SPDR Bloomberg Convertible Securities ETF

CWB • ARCA

SPDR Bloomberg Convertible Securities ETF is an exchange-traded fund on ARCA. As of Q3 2025, 476 institutional investors hold shares in this ETF, with total holdings valued at $3.2B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $238.4M.

Overview

Overview of institutional ownership in CWB as of Q3 2025

All Institutions

Institutions: 476
Value Held: $3.2B
Shares Held: 35.3M
Avg Position: $6.7M
Median Position: $709.9K

Hedge Funds

Hedge Funds: 11
Value Held: $31.4M
Shares Held: 346.6K
Avg Position: $2.9M
Median Position: $2.2M

Biggest Investors

Institutions with the largest positions in CWB as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$238.4M 0.02% of portfolio	2.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$218.0M 0.06% of portfolio	2.4M shares	≤ Q2 2013 Held for 12y 5m+	$341.99B
Howard Capital Management Inc. Long Only Manager	Ronald Vance Howard CEO	$210.0M 2.78% of portfolio	2.3M shares	Q2 2023 Held for 2y 5m	$7.6B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$146.1M 0.01% of portfolio	1.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$144.9M 0.17% of portfolio	1.6M shares	Q3 2018 Held for 7y 2m	$85.4B
L LPL Financial LLC Institution	-	$139.7M 0.04% of portfolio	1.5M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$129.8M 0.03% of portfolio	1.4M shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
B BESSEMER GROUP INC Institution	-	$102.5M 0.16% of portfolio	1.1M shares	≤ Q2 2013 Held for 12y 5m+	$64.4B
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	Hyun Michael Kim CEO	$98.1M 0.21% of portfolio	1.1M shares	Q1 2017 Held for 8y 8m	$46.5B
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$81.4M 0.05% of portfolio	899.7K shares	Q3 2015 Held for 10y 2m	$149.83B

Net Capital Flow

Institutional buying and selling activity for CWB in Q3 2025

Traded: +$338.8M
Buyers: 205
Sellers: 194
Total Bought: +$471.0M
Total Sold: −$132.2M
Avg Position: $6.2M

Biggest Buyers

Institution	Net Bought	Current Position
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	+$97.8M +1.1M shares	$98.1M 1.1M shares
Wright Fund Managment, LLC Long Only Manager	+$51.9M +573.8K shares	$51.9M 573.8K shares
POTOMAC FUND MANAGEMENT INC /ADV Long Only Manager	+$42.5M +470.0K shares	$42.5M 470.0K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	+$34.1M +377.1K shares	$72.3M 798.7K shares
AMERIPRISE FINANCIAL INC Institution	+$31.4M +346.9K shares	$72.6M 802.5K shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	+$22.1M +244.7K shares	$81.4M 899.7K shares
Horizon Investments, LLC/SC Long Only Manager	+$19.5M +216.2K shares	$27.2M 301.0K shares
A Advisor Group Holdings, Inc. Institution	+$14.4M +160.7K shares	$30.7M 343.1K shares
E Estate Counselors, LLC Institution	+$11.6M +128.7K shares	$11.6M 128.7K shares
L LPL Financial LLC Institution	+$11.6M +128.3K shares	$139.7M 1.5M shares

Biggest Sellers

Institution	Net Sold	Current Position
A Allianz Asset Management AG Institution	−$17.6M −212.7K shares	Sold Off 0 shares
GOLDMAN SACHS GROUP INC Institution	−$12.3M −135.9K shares	$52.8M 583.6K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$11.1M −122.6K shares	$8.0M 88.5K shares
Kingsview Wealth Management, LLC RIA/Wealth	−$9.2M −110.8K shares	Sold Off 0 shares
NEW YORK LIFE INVESTMENT MANAGEMENT LLC Long Only Manager	−$8.9M −98.6K shares	$45.8M 506.5K shares
F Florin Court Capital LLP Institution	−$8.3M −92.0K shares	$7.0M 77.7K shares
MORGAN STANLEY RIA/Wealth	−$6.3M −69.7K shares	$146.1M 1.6M shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$5.5M −61.1K shares	$27.3M 301.9K shares
Simplicity Wealth,LLC RIA/Wealth	−$4.5M −49.9K shares	$2.1M 23.0K shares
Q Quadrature Capital Ltd Institution	−$4.0M −47.9K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CWB in Q3 2025

New Positions: 20
New Value: $11.5M
Exited Positions: 37
Exited Value: $38.9M

New Positions

Institution	Position Value
Y Yorktown Management & Research Co Inc Institution	$4.5M 50.0K shares
CX Institutional RIA/Wealth	$961.5K 10.6K shares
SMITHBRIDGE ASSET MANAGEMENT INC/DE RIA/Wealth	$958.4K 10.6K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	$918.6K 10.2K shares
Vestmark Advisory Solutions, Inc. Fund of Funds	$918.6K 10.2K shares
Maridea Wealth Management LLC RIA/Wealth	$706.5K 7.6K shares
Client First Investment Management LLC RIA/Wealth	$577.6K 6.4K shares
X XTX Topco Ltd Institution	$334.9K 3.7K shares
Discipline Wealth Solutions, LLC RIA/Wealth	$329.7K 3.6K shares
AXXCESS WEALTH MANAGEMENT, LLC RIA/Wealth	$264.4K 2.9K shares

Exited Positions

Institution	Previous Position
A Allianz Asset Management AG Institution	$17.6M 212.7K shares
Kingsview Wealth Management, LLC RIA/Wealth	$9.2M 110.8K shares
Q Quadrature Capital Ltd Institution	$4.0M 47.9K shares
P PRUDENTIAL PLC Institution	$1.7M 21.0K shares
B BlueCrest Capital Management Ltd Institution	$1.4M 16.4K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$826.6K 10.0K shares
T TWO SIGMA SECURITIES, LLC Institution	$542.8K 6.6K shares
KEYBANK NATIONAL ASSOCIATION/OH RIA/Wealth	$454.7K 5.5K shares
Almanack Investment Partners, LLC. RIA/Wealth	$377.4K 4.6K shares
WEDBUSH MORGAN SECURITIES INC RIA/Wealth	$359.3K 4.3K shares

Options Activity

Institutions with the largest Call and Put options positions in CWB as of Q3 2025

Call Positions: 2
Call Value: $814.5K
Put Positions: 2
Put Value: $6.1M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$524.9K 58.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$289.6K 32.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.8M 641.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$343.9K 38.0 contracts

Most Committed Institutions

Institutions with CWB as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
H H&H Retirement Design & Management INC RIA/Wealth	Andrew Joseph Kathol President	19.68% $37.0M	399.8K shares	Q1 2021 Held for 4y 8m	$188.1M
Goodman Advisory Group, LLC RIA/Wealth	Deborah Nicole Goodman President	12.65% $49.2M	543.3K shares	Q4 2022 Held for 2y 11m	$388.8M
Wealth Watch Advisors, INC RIA/Wealth	William Earl Gastl Managing Partner	9.35% $20.7M	228.6K shares	Q4 2024 Held for 11 months	$221.3M
William Mack & Associates, Inc. RIA/Wealth	William Mack President	7.24% $13.5M	148.8K shares	Q4 2024 Held for 11 months	$185.9M
FSC Wealth Advisors, LLC RIA/Wealth	James Michael Comblo Managing Partner	6.44% $11.2M	123.4K shares	Q4 2021 Held for 3y 11m	$173.3M
F Florin Court Capital LLP Institution	-	5.51% $7.0M	77.7K shares	Q2 2023 Held for 2y 5m	$127.6M
Anderson Financial Strategies, LLC RIA/Wealth	Shon P Anderson Managing Partner	5.25% $8.9M	97.9K shares	Q4 2024 Held for 11 months	$168.8M
Finward Bancorp Institution	Benjamin J. Bochnowski CEO	4.85% $6.4M	70.5K shares	Q4 2024 Held for 11 months	$131.6M
Lifestyle Asset Management, Inc. RIA/Wealth	Michael Allen Wegner President	3.88% $11.4M	125.5K shares	Q4 2024 Held for 11 months	$292.6M
Baron Financial Group, LLC RIA/Wealth	Victor Paul Cannillo Managing Partner	3.65% $6.7M	73.6K shares	Q3 2020 Held for 5y 2m	$182.5M

Hedge Fund Spotlight

Discover hedge funds investing in CWB

Solstein Capital, LLC

Hedge Fund • Value

Portfolio ManagerNadine F Terman

Portfolio Value: $218.5M
Positions: 447
Last Reported: Q3 2025

Sector Allocation

Position in SPDR Bloomberg Convertible Securities ETF

Market Value: $21.7K
Shares Held: 240.0
Portfolio Weight: 0.01%
Owned Since: 2021-Q1

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$18.6M	8.50%
2 Apple AAPL	Consumer Electronics Technology	$16.9M	7.73%
3 Microsoft MSFT	Software - Infrastructure Technology	$11.9M	5.44%