L3VLUP
Quarter end
30 Sep 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 12 Nov 2025
Managers listing it
34
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q2 2025 and Q3 2025; 32 listed it in both
Shares listed
38,192,451
combined, among listed positions
Reported value
$25.4bn
combined, at the quarter end

Among the 95 comparable managers: 22 buyers (opened or added shares) and 14 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.

Managers listing SPY in Q3 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q2 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

34 of 34 holders

ActionFiling
Susquehanna International Group LLP13,087,684$8.7bn1.00%Trimmed-1,776,42914 Nov 2025 (the filing on sec.gov)
Fidelity (FMR LLC)3,973,641$2.6bn0.14%Added+18,89113 Nov 2025 (the filing on sec.gov)
D. E. Shaw & Co.3,326,503$2.2bn1.25%Trimmed-2,627,29114 Nov 2025 (the filing on sec.gov)
Bridgewater Associates LP2,565,088$1.7bn6.69%Trimmed-45,27213 Nov 2025 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC1,955,648$1.3bn7.40%Added+394,07414 Nov 2025 (the filing on sec.gov)
Jane Street Group LLC1,756,728$1.2bn0.18%Added+793,73814 Nov 2025 (the filing on sec.gov)
Millennium Management LLC1,549,399$1.0bn0.44%Added+275,47314 Nov 2025 (the filing on sec.gov)
Tudor Investment Corp1,453,780$968m1.67%Trimmed-534,0339 Dec 2025 (the filing on sec.gov)
Man Group PLC1,211,639$807m1.40%Trimmed-688,38514 Nov 2025 (the filing on sec.gov)
Citadel Advisors LLC1,193,614$795m0.12%Added+544,93214 Nov 2025 (the filing on sec.gov)
Arrowstreet Capital LP1,032,966$688m0.43%Added+906,90713 Nov 2025 (the filing on sec.gov)
AllianceBernstein LP1,031,740$687m0.22%Added+6,25014 Nov 2025 (the filing on sec.gov)
Two Sigma Investments LP1,021,373$680m1.01%Trimmed-136,22514 Nov 2025 (the filing on sec.gov)
AQR Capital Management LLC574,133$382m0.25%Added+175,13314 Nov 2025 (the filing on sec.gov)
Eisler Capital Management Ltd425,308$282m1.25%Added+324,03613 Nov 2025 (the filing on sec.gov)
Verition Fund Management LLC422,569$282m1.16%Added+91,06114 Nov 2025 (the filing on sec.gov)
Hudson Bay Capital Management LP387,000$258m0.86%Added+255,50115 Dec 2025 (the filing on sec.gov)
Jana Partners386,637$258m12.47%Trimmed-126,41614 Nov 2025 (the filing on sec.gov)
Neuberger Berman Group LLC217,412$145m0.11%Added+57827 Oct 2026 (the filing on sec.gov)
Moore Capital Management LP128,901$86m1.18%Added+22,57214 Nov 2025 (the filing on sec.gov)
Soros Fund Management LLC97,778$65m0.93%Added+50,00014 Nov 2025 (the filing on sec.gov)
Balyasny Asset Management LLC95,594$64m0.08%Trimmed-366,36514 Nov 2025 (the filing on sec.gov)
Woodline Partners LP89,607$60m0.28%Added+19,35214 Nov 2025 (the filing on sec.gov)
Holocene Advisors LP51,395$34m0.08%Added+39,20314 Nov 2025 (the filing on sec.gov)
Capital World Investors41,649$28munder 0.1%Added+13,19313 Nov 2025 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q2 2025 to Q3 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
32 in Q3 2024 to 32 in Q2 2026

Tracked managers listing it, at least.

0102030402014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
SPY by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201316$13.5bnn.a.n.a.
Q3 201314$8.0bnn.a.n.a.
Q4 201314$8.6bnn.a.n.a.
Q1 201417$8.3bnn.a.n.a.
Q2 201418$13.0bnn.a.n.a.
Q3 201417$14.8bnn.a.n.a.
Q4 201420$17.8bnn.a.n.a.
Q1 201519$15.6bnn.a.n.a.
Q2 201518$11.5bnn.a.n.a.
Q3 201515$11.4bnn.a.n.a.
Q4 201520$12.6bnn.a.n.a.
Q1 201623$13.6bnn.a.n.a.
Q2 201619$5.5bnn.a.n.a.
Q3 201625$8.9bnn.a.n.a.
Q4 201618$7.1bnn.a.n.a.
Q1 201718$7.7bnn.a.n.a.
Q2 201718$7.3bnn.a.n.a.
Q3 201720$6.8bnn.a.n.a.
Q4 201721$10.7bnn.a.n.a.
Q1 201821$9.0bnn.a.n.a.
Q2 201822$7.9bnn.a.n.a.
Q3 201822$7.9bnn.a.n.a.
Q4 201821$7.0bnn.a.n.a.
Q1 201917$6.6bnn.a.n.a.
Q2 201921$10.9bnn.a.n.a.
Q3 201926$11.1bnn.a.n.a.
Q4 201926$19.8bnn.a.n.a.
Q1 202026$15.2bnn.a.n.a.
Q2 202022$13.1bnn.a.n.a.
Q3 202024$13.1bnn.a.n.a.
Q4 202023$17.4bnn.a.n.a.
Q1 202124$13.8bnn.a.n.a.
Q2 202122$15.7bnn.a.n.a.
Q3 202124$16.6bnn.a.n.a.
Q4 202129$22.3bnn.a.n.a.
Q1 202222$17.3bnn.a.n.a.
Q2 202221$13.6bnn.a.n.a.
Q3 202229$14.0bnn.a.n.a.
Q4 202229$14.1bnn.a.n.a.
Q1 202325$15.8bnn.a.n.a.
Q2 202329$17.6bnn.a.n.a.
Q3 202328$27.8bnn.a.n.a.
Q4 202335$26.6bn2411
Q1 202430$25.9bn724
Q2 202431$22.9bn1713
Q3 202432$28.2bn2012
Q4 202436$31.8bn2117
Q1 202532$27.0bn1421
Q2 202535$28.6bn1621
Q3 202534$25.4bn2214
Q4 202532$32.9bn2514
Q1 202632$31.8bn1823
Q2 202632$71.4bn2419

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

Choose a stock to compare with SPY →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own SPY, latest filings →Back to the 13F Explorer →