Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

State Str Spdr S&P 500 ETF T (SPY)

5K + Investors. Track Smart Money conviction in SPY. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +73
Streak
5Q ▲
Buyers last Q
50%

Smart Money Signals — SPY

Based on 4773 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 5 quarters in a row

last 6Q
For 5 consecutive quarters, more hedge funds added SPY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
4,773 hedge funds hold SPY right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +11% more funds vs a year ago

fund count last 6Q
+469 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 50% buying

2297 buying2336 selling
Last quarter: 2,297 funds bought or added vs 2,336 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~314 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 246 → 546 → 312 → 314. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

70% of holders stayed for 2+ years

■ 70% conviction (2yr+) ■ 16% medium ■ 14% new
3,356 out of 4,773 hedge funds have held SPY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +35% but shares only +15% — price-driven

Value
+35%
Shares
+14%
Last quarter: the total dollar value of institutional holdings rose +35%, but actual share count only changed +15%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📊

Peak discovery — momentum slowing

318 → 246 → 546 → 312 → 314 new funds/Q
New funds entering each quarter: 246 → 546 → 312 → 314. SPY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 71% veterans vs 16% newcomers

■ 71% veterans ■ 13% 1-2yr ■ 16% new
Entry-cohort mix of 5,209 holders: 3,711 (71%) are 2+ year veterans, 668 entered 1–2 years ago, and 830 (16%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 47% AUM from top-100 funds

47% from top-100 AUM funds
59 of 4651 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in SPY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — SPY

In 2026 Q2, 2297 hedge funds were net buyers of SPY (314 opened a new position, 1983 added to an existing one), while 2336 reduced or exited (2095 trimmed, 241 sold completely) — a 50% buyer ratio, indicating a slight buying edge. This marks 5 consecutive quarters of net institutional buying — a persistent conviction signal. 47% of total institutional value in SPY is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +73 funds (more new holders than closures). Total institutional holders: 4773.

Hedge Fund Ownership: SPY

How many hedge funds hold SPY — quarterly history vs. share price
Quarterly hedge fund ownership of SPY vs. share price

Market Analysis: SPY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SPY

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy State Str Spdr S&P 500 ETF T (SPY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much SPY has moved relative to its sector benchmark (SPY) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 73d ago
SPY
+2.1%
SPY
+2.1%

SPY outperformed SPY by +0.0% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 28d ago
SPY
-1.8%
SPY
-1.8%

Since the filing became public, SPY outperformed SPY by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Strong Institutional Conviction

Multiple high-quality funds hold meaningful positions with strong conviction.

92 top-rated funds 541 high-conviction
Consensus
8.5
/ 10
breadth
×
Elite
8.1
/ 10
conviction
Hedge Fund Positioning: SPY
5K + Investors

Track Smart Money conviction in SPY. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 4613 4700 -1.85%
13F Shares 1.58B 1.38B 14.68%
Total Value $1.22T $907.14B 35.02%
New Positions 292 312 -20
Increased Positions 1846 1728 +118
Closed Positions 258 278 -20
Reduced Positions 1945 2039 -94
Total Calls 187 193 -3.11%
Total Puts 347 335 3.58%
PUT/CALL Ratio 1.86 1.74 Bearish

Statistics: SPY

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Profit Margin --
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Total Cash (mrq) --
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Institutional Holders (2026 Q2)

5K + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in SPY. Verified SEC 13F-HR filings.

QUARTER:
Top 25 SPY holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Benjamin Joseph Floyd Dba Floyd Capital Management 100.00% 176,101 $131.5M
2 North Horizon Holdings Inc. 100.00% 169,775 $126.8M
3 Trustees of Columbia University in the City of New York 98.73% 618,565 $461.9M
4 Millbank Dartmoor Portsmouth LLC 97.73% 229,402 $171.7M
5 Power Alpha Investment Ltd 93.55% 1,244,951 $929.5M
6 Ramsey Quantitative Systems 85.02% 127,043 $94.9M
7 Little Harbor Advisors, LLC 79.53% 216,634 $161.8M
8 Freedom Together Foundation 73.00% 847,400 $632.8M
9 Greenfield FTC, Inc. 71.08% 699,141 $522.1M
10 Timelo Investment Management Inc. 70.70% 330,000 $246.4M
11 RPD Fund Management LLC 65.20% 190,000 $141.9M
12 Praxis Capital Management LLC 63.80% 53,910 $40.3M
13 III Capital Management 63.30% 333,951 $249.4M
14 Marest Capital, LLC 62.17% 167,232 $124.9M
15 Insight Wealth Partners, LLC 60.34% 601,827 $449.4M
16 Dow Chemical Co /de/ 59.94% 183,371 $136.9M
17 Carronade Capital Management, LP 58.20% 4,500,000 $3.36B
18 Karnit Road Accident Victims Compensation Fund 57.96% 136,578 $102.0M
19 Pacific Wealth Management 57.84% 174,694 $130.5M
20 Naman Capital Ltda 57.22% 247,568 $184.9M
21 Castle Hook Partners LP 56.52% 16,507,100 $12.33B
22 Navigation Wealth Management, Inc. 53.38% 51,893 $38.8M
23 Shulman DeMeo Asset Management LLC 51.96% 372,247 $278.0M
24 Trust Asset Management LLC 51.61% 1,204,074 $374.6M
25 Lepercq De Neuflize Asset Management LLC 51.54% 108,716 $81.2M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — State Str Spdr S&P 500 ETF T (SPY)

What does the Smart Money Trend signal show for SPY?

Buying streak — 5 quarters in a row: For 5 consecutive quarters, more hedge funds added SPY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for SPY?

Slight buying edge — 50% buying: Last quarter: 2,297 funds bought or added vs 2,336 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for SPY holders?

Elite ownership — 47% AUM from top-100 funds: 59 of 4651 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in SPY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held SPY?

70% of holders stayed for 2+ years: 3,356 out of 4,773 hedge funds have held SPY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy State Str Spdr S&P 500 ETF T (SPY) following the 2026 Q2 hedge fund 13F filings?

As of today, SPY has moved -1.8% since the 2026 Q2 13F filing date (August 14, 2026), compared to -1.8% for the SPY sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), SPY has gained +2.1% vs +2.1% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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