We are live on ! Find out more
SPY icon

State Street SPDR S&P 500 ETF Trust
SPY

4,247 hedge funds and large institutions have $358B invested in State Street SPDR S&P 500 ETF Trust in 2025 Q3 according to their latest regulatory filings, with 196 funds opening new positions, 1,687 increasing their positions, 1,767 reducing their positions, and 104 closing their positions.

New
Increased
Maintained
Reduced
Closed

88% more first-time investments, than exits

New positions opened: 196 | Existing positions closed: 104

4% more capital invested

Capital invested by funds: $343B → $358B (+$14.7B)

0% more funds holding

Funds holding: 4,228 → 4,247 (+19)

5% less repeat investments, than reductions

Existing positions increased: 1,687 | Existing positions reduced: 1,767

1.43% less ownership

Funds ownership: 55.76% → 54.33% (-1.4%)

3% less funds holding in top 10

Funds holding in top 10: 1,098 → 1,064 (-34)

53% less call options, than puts

Call options by funds: $325B | Put options by funds: $684B

Holders
4,247
Holders Change
+19
Holders Change %
+0.45%
% of All Funds
55.73%
Holding in Top 10
1,064
Holding in Top 10 Change
-34
Holding in Top 10 Change %
-3.1%
% of All Funds
13.96%
New
196
Increased
1,687
Reduced
1,767
Closed
104
Calls
$325B
Puts
$684B
Net Calls
-$359B
Net Calls Change
-$70.6B

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$2.37B
2
Optiver Holding
Optiver Holding
Netherlands
+$2.09B
3
Focus Partners Wealth
Focus Partners Wealth
Massachusetts
+$861M
4
GAM
Gotham Asset Management
New York
+$809M
5
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
+$783M

Top Sellers

Rank Fund Capital Flow
1
PCP
Proficio Capital Partners
Massachusetts
-$8.16B
2
SC
Soundwatch Capital
Connecticut
-$7.41B
3
GFA
Gallagher Fiduciary Advisors
Illinois
-$6.32B
4
Wells Fargo
Wells Fargo
California
-$6.24B
5
FCM
Farallon Capital Management
California
-$3.53B
Name Holding Trade Value Shares
Change 		Change in
Stake
Truist Financial
26
Truist Financial
North Carolina
$2.12B -$17.7M -27,535 -0.9%
Ameriprise
27
Ameriprise
Minnesota
$2.11B +$21.9M +34,204 +1%
Mackenzie Financial
28
Mackenzie Financial
Ontario, Canada
$2.06B -$79.5M -124,070 -4%
CM
29
Capula Management
Cayman Islands
$2.03B -$84.6M -132,009 -4%
Creative Planning
30
Creative Planning
Kansas
$1.99B +$33.9M +52,929 +2%
BBVA
31
Banco Bilbao Vizcaya Argentaria
Spain
$1.92B +$735M +1,146,557 +65%
Bank of New York Mellon
32
Bank of New York Mellon
New York
$1.83B -$28.7M -44,764 -2%
TD Asset Management
33
TD Asset Management
Ontario, Canada
$1.78B -$1.71B -2,662,964 -50%
Rockefeller Capital Management
34
Rockefeller Capital Management
New York
$1.77B +$10.4M +16,187 +0.6%
Envestnet Asset Management
35
Envestnet Asset Management
Illinois
$1.74B -$41.1M -64,156 -2%
NMIFOAC
36
National Mutual Insurance Federation of Agricultural Cooperatives
Japan
$1.74B – – –
BA
37
Bridgewater Associates
Connecticut
$1.71B -$29M -45,272 -2%
AIMCA
38
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$1.6B -$45.5M -70,916 -3%
Canada Pension Plan Investment Board
39
Canada Pension Plan Investment Board
Ontario, Canada
$1.49B – – –
Pathstone Holdings
40
Pathstone Holdings
New Jersey
$1.47B -$93.5M -145,823 -6%
Focus Partners Wealth
41
Focus Partners Wealth
Massachusetts
$1.41B +$861M +1,343,882 +120%
BNP Paribas Financial Markets
42
BNP Paribas Financial Markets
France
$1.39B +$502M +783,428 +60%
HighTower Advisors
43
HighTower Advisors
Illinois
$1.35B +$31.8M +49,634 +3%
Cerity Partners
44
Cerity Partners
New York
$1.32B -$11.8M -18,369 -0.8%
SSA
45
Schonfeld Strategic Advisors
New York
$1.3B +$253M +394,074 +25%
Commonwealth Equity Services
46
Commonwealth Equity Services
Massachusetts
$1.22B -$60.1M -93,706 -5%
Cetera Investment Advisers
47
Cetera Investment Advisers
Illinois
$1.17B +$278M +433,829 +33%
Jane Street
48
Jane Street
New York
$1.17B +$509M +793,738 +82%
State Street
49
State Street
Massachusetts
$1.17B +$287M +447,027 +34%
BlackRock
50
BlackRock
New York
$1.14B -$36.6M -57,098 -3%
1
2
3 4 5

SPY Hedge Fund Activity: Q3 2025 in Review

4,247 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR S&P 500 ETF Trust (SPY) for Q3 2025, worth a combined $358B — up 4.3% from $343B a quarter earlier.

Buyers outnumbered sellers: 196 funds opened new SPY positions and 104 closed out — a net gain of 92 holders — while 1,687 added to existing stakes and 1,767 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $2.37B. The largest seller was Proficio Capital Partners, cutting an estimated $8.16B.

  • 4,247 institutional investors held State Street SPDR S&P 500 ETF Trust (SPY) as of Q3 2025, up from 4,228 in Q2 2025.
  • Funds reported $358B of State Street SPDR S&P 500 ETF Trust stock for Q3 2025, up 4.3% quarter-over-quarter.
  • 196 funds opened new State Street SPDR S&P 500 ETF Trust positions in Q3 2025 and 104 closed out, a net change of +92 holders.
  • The largest State Street SPDR S&P 500 ETF Trust buyer in Q3 2025 was Morgan Stanley, an estimated $2.37B added.
  • The largest State Street SPDR S&P 500 ETF Trust seller in Q3 2025 was Proficio Capital Partners, an estimated $8.16B sold.

Based on aggregated 13F filings for Q3 2025.