State Street SPDR S&P 500 ETF Trust
SPY
4,229 hedge funds and large institutions have $343B invested in State Street SPDR S&P 500 ETF Trust in 2025 Q2 according to their latest regulatory filings, with 260 funds opening new positions, 1,789 increasing their positions, 1,635 reducing their positions, and 148 closing their positions.
76% more first-time investments, than exits
New positions opened: 260 | Existing positions closed: 148
9% more capital invested
Capital invested by funds: $314B → $343B (+$29.4B)
2.34% more ownership
Funds ownership: 53.42% → 55.76% (+2.3%)
1% more funds holding
Funds holding: 4,173 → 4,229 (+56)
9% more repeat investments, than reductions
Existing positions increased: 1,789 | Existing positions reduced: 1,635
0% more funds holding in top 10
Funds holding in top 10: 1,095 → 1,098 (+3)
47% less call options, than puts
Call options by funds: $324B | Put options by funds: $613B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCP
Proficio Capital Partners
Newton,
Massachusetts
|
+$7.28B |
| 2 |
SC
Soundwatch Capital
Rowayton,
Connecticut
|
+$6.89B |
| 3 |
GFA
Gallagher Fiduciary Advisors
Rolling Meadows,
Illinois
|
+$5.63B |
| 4 |
Wells Fargo
San Francisco,
California
|
+$3.68B |
| 5 |
FCM
Farallon Capital Management
San Francisco,
California
|
+$3.14B |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$5.24B |
| 2 |
JP Morgan Chase
New York
|
-$4.6B |
| 3 |
Lido Advisors
Los Angeles,
California
|
-$1.94B |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$1.44B |
| 5 |
OMC
Old Mission Capital
Chicago,
Illinois
|
-$1.23B |
SPY Hedge Fund Activity: Q2 2025 in Review
4,229 of the 7,598 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR S&P 500 ETF Trust (SPY) for Q2 2025, worth a combined $343B — up 9.4% from $314B a quarter earlier.
Buyers outnumbered sellers: 260 funds opened new SPY positions and 148 closed out — a net gain of 112 holders — while 1,789 added to existing stakes and 1,635 trimmed.
The largest buyer was Proficio Capital Partners, adding an estimated $7.28B. The largest seller was Susquehanna International Group, cutting an estimated $5.24B.
- 4,229 institutional investors held State Street SPDR S&P 500 ETF Trust (SPY) as of Q2 2025, up from 4,173 in Q1 2025.
- Funds reported $343B of State Street SPDR S&P 500 ETF Trust stock for Q2 2025, up 9.4% quarter-over-quarter.
- 260 funds opened new State Street SPDR S&P 500 ETF Trust positions in Q2 2025 and 148 closed out, a net change of +112 holders.
- The largest State Street SPDR S&P 500 ETF Trust buyer in Q2 2025 was Proficio Capital Partners, an estimated $7.28B added.
- The largest State Street SPDR S&P 500 ETF Trust seller in Q2 2025 was Susquehanna International Group, an estimated $5.24B sold.
Based on aggregated 13F filings for Q2 2025.