Which funds own SPY
State Street SPDR S&P 500 ETF in the Q2 2026 filings. At least 28 of the 91 current managers on file reported a position, worth $71.0bn between them. At least a fifth of the current managers on file hold it, which is a crowd without being the whole market. The quarter went one way: 17 managers opened or added against 12 cutting.
- Managers holding
- 28
- at least, of 91 current
- Combined value
- $71.0bn
- as reported
- Opened
- 4
- new this quarter
- Added to
- 13
- already held
- Trimmed or sold out
- 12
- 2 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Jane Street Group LLC Quantitative · $1206bn book | $33.1bn | 2.7% | 44,258,657 | +$19.9bn+23,969,058 | Added |
| Susquehanna International Group LLP Quantitative · $1284bn book | $10.9bn | 0.8% | 14,608,579 | +$4.0bn+3,962,899 | Added |
| D. E. Shaw & Co. Quantitative · $210bn book | $10.5bn | 5.0% | 14,028,230 | +$10.0bn+13,282,720 | Added |
| Bridgewater Associates LP Macro · $24.4bn book | $4.0bn | 16% | 5,320,308 | +$1.1bn+955,446 | Added |
| Millennium Management LLC Multi-strategy · $276bn book | $3.6bn | 1.3% | 4,857,109 | +$3.2bn+4,234,187 | Added |
| Fidelity (FMR LLC) Long-only · $2304bn book | $3.1bn | 0.1% | 4,159,436 | +$396m-7,281 | Trimmed |
| Squarepoint Ops LLC Multi-strategy · $90.5bn book | $936m | 1.0% | 1,252,701 | +$777m+1,009,284 | Added |
| Man Group PLC Quantitative · $62.7bn book | $856m | 1.4% | 1,146,541 | opened1,146,541 | New |
| AQR Capital Management LLC Quantitative · $287bn book | $855m | 0.3% | 1,144,745 | +$259m+228,345 | Added |
| Verition Fund Management LLC Multi-strategy · $19.7bn book | $689m | 3.5% | 922,630 | +$146m+87,076 | Added |
| Balyasny Asset Management LLC Multi-strategy · $80.2bn book | $644m | 0.8% | 861,737 | +$566m+741,815 | Added |
| AllianceBernstein LP Long-only · $302bn book | $469m | 0.2% | 722,051 | +$6.8m+44,757 | Added |
| Tudor Investment Corp Macro · $71.9bn book | $313m | 0.4% | 418,921 | -$415m-700,192 | Trimmed |
| Jana Partners Activist · $1.9bn book | $256m | 13% | 342,965 | +$33m-700 | Trimmed |
| Neuberger Berman Group LLC Long-only · $150bn book | $184m | 0.1% | 245,690 | +$27m+5,066 | Added |
| Renaissance Technologies LLC Quantitative · $72.6bn book | $164m | 0.2% | 219,040 | opened219,040 | New |
| Walleye Capital LLC Multi-strategy · $28.0bn book | $141m | 0.5% | 188,548 | -$923m-1,447,604 | Trimmed |
| Hudson Bay Capital Management LP Multi-strategy · $36.8bn book | $107m | 0.3% | 143,000 | -$58m-110,545 | Trimmed |
| Holocene Advisors LP Long/short equity · $44.4bn book | $68m | 0.2% | 90,987 | +$6.8m-3,086 | Trimmed |
| Schonfeld Strategic Advisors LLC Multi-strategy · $27.9bn book | $52m | 0.2% | 70,040 | -$159m-255,350 | Trimmed |
| Element Capital Management LLC Macro · $3.2bn book | $37m | 1.2% | 50,000 | opened50,000 | New |
| Moore Capital Management LP Macro · $6.7bn book | $28m | 0.4% | 36,812 | +$27m+35,303 | Added |
| Soros Fund Management LLC Macro · $8.1bn book | $19m | 0.2% | 25,000 | +$2.4m0 | Held |
| Quantbot Technologies LP Quantitative · $2.5bn book | $7.9m | 0.3% | 10,526 | opened10,526 | New |
| Davidson Kempner Capital Management LP Long/short equity · $8.4bn book | $3.1m | 0.0% | 4,197 | -$500k-1,338 | Trimmed |
| Polen Capital Management LLC Long-only · $11.6bn book | $3.0m | 0.0% | 4,018 | +$600k+261 | Added |
| Harris Associates LP Value · $75.4bn book | $1.6m | 0.0% | 2,148 | -$3.4m-5,564 | Trimmed |
| ARK Investment Management LLC Long-only · $15.4bn book | $0 | 0.0% | 0 | unchanged-28 | Trimmed |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Freestone Grove Partners LP · Multi-strategy$366m held before
- First Eagle Investment Management LLC · Value$11m held before
Ownership through time
At least 32 of the 95 managers whose filings are on file listed SPY in Q2 2026, against 16 in Q2 2013. The same number as in Q1 2026: 3 started positions; 1 listed it again; 1 sold out, by its own filing; 3 no longer listed it among the positions read, which can mean a holding below the listed range, a filing that reported no holdings, or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q2 2013: 16
- Q3 2013: 14
- Q4 2013: 14
- Q1 2014: 17
- Q2 2014: 17
- Q3 2014: 16
- Q4 2014: 19
- Q1 2015: 18
- Q2 2015: 18
- Q3 2015: 15
- Q4 2015: 20
- Q1 2016: 23
- Q2 2016: 19
- Q3 2016: 25
- Q4 2016: 18
- Q1 2017: 18
- Q2 2017: 18
- Q3 2017: 20
- Q4 2017: 21
- Q1 2018: 21
- Q2 2018: 22
- Q3 2018: 22
- Q4 2018: 21
- Q1 2019: 17
- Q2 2019: 21
- Q3 2019: 26
- Q4 2019: 26
- Q1 2020: 26
- Q2 2020: 22
- Q3 2020: 24
- Q4 2020: 23
- Q1 2021: 24
- Q2 2021: 22
- Q3 2021: 24
- Q4 2021: 29
- Q1 2022: 22
- Q2 2022: 21
- Q3 2022: 29
- Q4 2022: 29
- Q1 2023: 25
- Q2 2023: 29
- Q3 2023: 28
- Q4 2023: 35
- Q1 2024: 30
- Q2 2024: 31
- Q3 2024: 32
- Q4 2024: 36
- Q1 2025: 32
- Q2 2025: 35
- Q3 2025: 34
- Q4 2025: 32
- Q1 2026: 32
- Q2 2026: 32
- Q2 2013: $13.5bn
- Q3 2013: $8.0bn
- Q4 2013: $8.6bn
- Q1 2014: $8.3bn
- Q2 2014: $12.3bn
- Q3 2014: $14.7bn
- Q4 2014: $16.6bn
- Q1 2015: $15.6bn
- Q2 2015: $11.5bn
- Q3 2015: $11.4bn
- Q4 2015: $12.6bn
- Q1 2016: $13.6bn
- Q2 2016: $5.5bn
- Q3 2016: $8.9bn
- Q4 2016: $7.1bn
- Q1 2017: $7.7bn
- Q2 2017: $7.3bn
- Q3 2017: $6.8bn
- Q4 2017: $10.7bn
- Q1 2018: $9.0bn
- Q2 2018: $7.9bn
- Q3 2018: $7.9bn
- Q4 2018: $7.0bn
- Q1 2019: $6.6bn
- Q2 2019: $10.9bn
- Q3 2019: $11.1bn
- Q4 2019: $19.8bn
- Q1 2020: $15.2bn
- Q2 2020: $13.1bn
- Q3 2020: $13.1bn
- Q4 2020: $17.4bn
- Q1 2021: $13.8bn
- Q2 2021: $15.7bn
- Q3 2021: $16.6bn
- Q4 2021: $22.3bn
- Q1 2022: $17.3bn
- Q2 2022: $13.6bn
- Q3 2022: $14.0bn
- Q4 2022: $14.1bn
- Q1 2023: $15.8bn
- Q2 2023: $17.6bn
- Q3 2023: $27.8bn
- Q4 2023: $26.6bn
- Q1 2024: $25.9bn
- Q2 2024: $22.9bn
- Q3 2024: $28.2bn
- Q4 2024: $31.8bn
- Q1 2025: $27.0bn
- Q2 2025: $28.6bn
- Q3 2025: $25.4bn
- Q4 2025: $32.9bn
- Q1 2026: $31.8bn
- Q2 2026: $71.4bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
Largest increases, by shares
- Jane Street Group LLC20,289,599 to 44,258,657 shares+$17.9bn
- D. E. Shaw & Co.745,510 to 14,028,230 shares+$9.9bn
- Millennium Management LLC622,922 to 4,857,109 shares+$3.2bn
- Susquehanna International Group LLP10,645,680 to 14,608,579 shares+$3.0bn
- Man Group PLCnew: 1,146,541 shares+$856m
Largest decreases, by shares
- Walleye Capital LLC1,636,152 to 188,548 shares-$1.1bn
- Tudor Investment Corp1,119,113 to 418,921 shares-$523m
- Schonfeld Strategic Advisors LLC325,390 to 70,040 shares-$191m
- Hudson Bay Capital Management LP253,545 to 143,000 shares-$83m
- Capital Research Global Investors42,207 to 18,193 shares-$18m
Left it
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Jane Street Group LLC | Q1 2014 | $33.1bn | $33.1bn | |
| Susquehanna International Group LLP | Q2 2013 | $13.4bn | $10.9bn | |
| D. E. Shaw & Co. | Q2 2013 | $10.5bn | $10.5bn | |
| Bridgewater Associates LP | Q2 2013 | $4.8bn | $4.0bn | |
| Millennium Management LLC | Q4 2013 | $4.1bn | $3.6bn | |
| Fidelity (FMR LLC) | Q2 2013 | $3.1bn | $3.1bn | |
| Squarepoint Ops LLC | Q2 2015 | $3.7bn | $935m | |
| Man Group PLC | Q2 2023 | $1.2bn | $856m | |
| AQR Capital Management LLC | Q4 2014 | $855m | $855m | |
| Verition Fund Management LLC | Q2 2013 | $1.3bn | $689m | |
| Balyasny Asset Management LLC | Q2 2013 | $656m | $644m | |
| AllianceBernstein LP | Q2 2013 | $2.5bn | $469m | |
| Citadel Advisors LLC | Q1 2016 | $3.0bn | $326m | |
| Tudor Investment Corp | Q1 2014 | $1.2bn | $313m | |
| Jana Partners | Q2 2013 | $356m | $256m | |
| Farallon Capital Management LLC | Q4 2024 | $3.4bn | last listed Q2 2025 | |
| Durable Capital Partners LP | Q4 2019 | $2.5bn | last listed Q1 2024 | |
| Voloridge Investment Management LLC | Q1 2014 | $2.2bn | last listed Q4 2021 | |
| Wellington Management Group LLP | Q2 2013 | $1.6bn | last listed Q2 2025 | |
| Two Sigma Investments LP | Q3 2013 | $1.5bn | last listed Q1 2026 | |
| Marshall Wace LLP | Q4 2015 | $1.1bn | last listed Q3 2024 | |
| Starboard Value LP | Q4 2019 | $822m | last listed Q3 2020 | |
| Arrowstreet Capital LP | Q1 2017 | $688m | last listed Q1 2026 | |
| Two Sigma Advisers LP | Q2 2013 | $649m | last listed Q1 2025 | |
| Oaktree Capital Management LP | Q2 2018 | $626m | last listed Q2 2018 |
Last reported earlier
These managers’ latest filings are from an earlier quarter, so they are not counted above.
- Eisler Capital Management Ltd · Q3 2025$282m · 1.2%
Reported as options rather than shares
A put or a call on a name is not a position in it, and the filing states the notional rather than what the option cost. These lines are listed apart for that reason and are not counted in anything above.
- Jane Street Group LLC · puts$116bn notional
- Susquehanna International Group LLP · puts$61.5bn notional
- Jane Street Group LLC · calls$54.4bn notional
- Susquehanna International Group LLP · calls$47.7bn notional
- Citadel Advisors LLC · calls$35.7bn notional
- Citadel Advisors LLC · puts$23.3bn notional
- Farallon Capital Management LLC · puts$4.5bn notional
- Millennium Management LLC · calls$3.5bn notional
- Millennium Management LLC · puts$3.2bn notional
- Squarepoint Ops LLC · puts$2.2bn notional
- Squarepoint Ops LLC · calls$2.1bn notional
- Balyasny Asset Management LLC · puts$1.7bn notional
- Point72 Asset Management LP · puts$1.2bn notional
- Point72 Asset Management LP · calls$1.1bn notional
- Oaktree Capital Management LP · puts$1.0bn notional
- Element Capital Management LLC · puts$665m notional
- Man Group PLC · calls$641m notional
- Man Group PLC · puts$577m notional
- Hudson Bay Capital Management LP · puts$569m notional
- Davidson Kempner Capital Management LP · puts$518m notional
- Two Sigma Investments LP · calls$408m notional
- Two Sigma Investments LP · puts$408m notional
- Artisan Partners LP · puts$329m notional
- Verition Fund Management LLC · puts$284m notional
- Walleye Capital LLC · puts$265m notional
- Marshall Wace LLP · puts$264m notional
- Balyasny Asset Management LLC · calls$255m notional
- Glenview Capital Management LLC · puts$194m notional
- Marshall Wace LLP · calls$174m notional
- Tudor Investment Corp · calls$112m notional
- Schonfeld Strategic Advisors LLC · calls$109m notional
- Schonfeld Strategic Advisors LLC · puts$80m notional
- Soros Fund Management LLC · puts$56m notional
- Moore Capital Management LP · puts$49m notional
- Third Point LLC · puts$29m notional
What is inside it
Knowing who bought a fund is half the question. The other half is what the fund holds, which is the manager’s actual exposure rather than the wrapper they reached for.
What SPY holdsHow much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More
The holdings, every quarter, and the week between
One email a week on what moved in the market and what it means for the people interviewing into it, with the 13F changes the quarter they are filed.
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