SPDR DOW JONES INDL AVRG ETF

CUSIP: 78467x109 Class: COM

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (1)

TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA

Value ($000) $48 Shares 100

Institution	Shares	Value ($000)
TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA	100	$48

Increased Positions (2)

Sequent Asset Management, LLC

Value ($000) $336 (+61.0%) Shares 700 (+55.6%)

SOL Capital Management CO

Value ($000) $1 (+12.3%) Shares 2,629 (+8.4%)

Institution	Prev Shares	Curr Shares	Change
Sequent Asset Management, LLC	450	700	+250 (+55.6%)
SOL Capital Management CO	2,425	2,629	+204 (+8.4%)

Decreased Positions (5)

CHARTIST INC /CA/

Value ($000) $29,306 (+2.6%) Shares 60,982 (-1.0%)

Pinnacle Holdings, LLC

Value ($000) $12,178 (+2.4%) Shares 25,340 (-1.2%)

MAGNOLIA CAPITAL MANAGEMENT LTD

Value ($000) $8 (+2.0%) Shares 16,171 (-1.5%)

L & S Advisors Inc

Value ($000) $14,717 (+2.1%) Shares 30,623 (-1.5%)

DUMONT & BLAKE INVESTMENT ADVISORS LLC

Value ($000) $1 (-99.9%) Shares 1,497 (-1.9%)

Institution	Prev Shares	Curr Shares	Change
CHARTIST INC /CA/	61,620	60,982	-638 (-1.0%)
Pinnacle Holdings, LLC	25,638	25,340	-298 (-1.2%)
MAGNOLIA CAPITAL MANAGEMENT LTD	16,425	16,171	-254 (-1.5%)
L & S Advisors Inc	31,093	30,623	-470 (-1.5%)
DUMONT & BLAKE INVESTMENT ADVISORS LLC	1,526	1,497	-29 (-1.9%)