SS Spdrb B 3-12M T-Bill ETFBILSETF

13F holders, Q1 2025 (March 31)
276holders +13
38new positions
18sold out
3famous investors
$99.44avg. 13F price*

At the end of Q1 2025, 276 institutions reported holding SS Spdrb B 3-12M T-Bill ETF (BILS) in their 13F filings, up 13 from Q4 2024. 38 opened new positions and 18 sold out. The largest holders were LPL Financial LLC ($285.6M), Cwm, LLC ($201.7M) and Bank of America Corp. ($141.6M). 3 famous investors held it, including Jim Simons / Peter Brown (0.1% of Renaissance Technologies's portfolio), Cliff Asness (0.0% of AQR Capital Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).

Company
SS Spdrb B 3-12M T-Bill ETF
Filed as
SPDR SER TR (Q1 2025)
CUSIP
78468R523
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300 Q1 2024: 242Q1 2024Q2 2024: 244Q2 2024Q3 2024: 237Q3 2024Q4 2024: 263Q4 2024Q1 2025: 276Q1 2025Q2 2025: 288Q2 2025Q3 2025: 266Q3 2025Q4 2025: 271Q4 2025Q1 2026: 278Q1 2026Q2 2026: 282Q2 2026

Total Exit/New Position Q4 2024 → Q1 2025

InstitutionsTotal Value
New Positions38$57.6M
Exits18$18.8M

All 13F filers, Q4 2024 → Q1 2025: 3,778,876 shares bought and 1,408,042 shares sold, net +2,370,834 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 276 holders

LPL Financial LLC 0.11% Add +11.6% 2,870,518 $285.6M
Cwm, LLC 0.80% Add +21.6% 2,027,560 $201.7M
Bank of America Corp. 0.01% Reduce -3.4% 1,422,940 $141.6M
Miller Investment Management, LP 12.19% Add +0.5% 1,107,724 $110.2M
Renaissance Technologies 0.14% Add +17.8% 958,400 $95.4M
Ameriprise Financial Inc. 0.02% Add +53.2% 857,137 $85.2M
Bell Bank 3.32% Reduce -1.3% 618,143 $61.5M
Proficio Capital Partners LLC 4.68% Reduce -5.0% 609,492 $60.5M
Partners Capital Investment Group, LLP 0.99% Add +16.1% 590,499 $58.7M
Sargent Investment Group, LLC 9.23% Add +5.3% 580,919 $57.8M
Osaic Holdings, Inc. 0.13% Reduce -29.0% 575,707 $57.3M
Ashton Thomas Private Wealth, LLC 1.88% Add +27.3% 493,133 $49.1M
Commonwealth Equity Services, LLC 0.06% Add +8.0% 451,717 $44.9M
Cetera Investment Advisers 0.08% Add +20.6% 427,265 $42.5M
Envestnet Asset Management Inc. 0.01% Add +23.1% 400,811 $39.9M
Royal Bank of Canada 0.01% Add +30.2% 392,615 $39.1M
Pecaut & Co. 12.75% Add +2.6% 376,233 $37.4M
UBS Group AG 0.01% Add +20.9% 371,860 $37.0M
Wells Fargo & Company 0.01% Add +6.6% 274,294 $27.3M
SoundView Advisors Inc. 11.00% Add +4.2% 268,025 $26.7M
CWA Asset Management Group, LLC 1.08% Reduce -1.1% 225,477 $22.4M
Peak Asset Management, LLC 3.72% Add +2.2% 196,402 $19.5M
Morgan Stanley 0.00% Add +82.1% 194,900 $19.4M
One Day In July LLC 1.82% Add +50.6% 182,923 $18.2M
Integrated Wealth Concepts LLC 0.20% Reduce -52.4% 173,279 $17.2M
Raymond James Financial Inc. 0.01% Add +17.6% 168,697 $16.8M
NDWM LLC 16.32% Add +1.7% 167,836 $16.7M
Armstrong Advisory Group, Inc. 1.32% No change 167,345 $16.6M
Truist Financial Corp. 0.03% Add +56.2% 164,250 $16.3M
NorthCoast Asset Management LLC 0.08% Reduce -18.8% 152,165 $15.1M
Castlekeep Investment Advisors LLC 7.04% Reduce -16.0% 137,815 $13.7M
MML Investors Services, LLC 0.05% Reduce -2.1% 137,073 $13.6M
NewEdge Advisors, LLC 0.08% Add +21.5% 135,975 $13.5M
Running Point Capital Advisors, LLC 4.28% Add +120.8% 135,483 $13.5M
AQR Capital Management 0.01% Add +829.3% 132,608 $13.2M
Financial Advocates Investment Management 0.92% Add +2.3% 131,146 $13.0M
Choate Investment Advisors 0.31% Add +35.5% 124,968 $12.4M
Austin Wealth Management, LLC 2.40% Reduce -0.9% 120,571 $12.0M
Birchcreek Wealth Management, LLC 7.50% Add +5.5% 119,508 $11.9M
Treasure Coast Financial Planning 7.28% Add +5.4% 117,993 $11.7M
Delos Wealth Advisors, LLC 9.22% Reduce -3.5% 117,019 $11.6M
Horizon Family Wealth, Inc. 7.74% Add +26.2% 116,686 $11.6M
WealthTrust Asset Management, LLC 8.33% Add +324.5% 112,950 $11.2M
Equitable Holdings, Inc. 0.10% Add +7.8% 111,123 $11.1M
DBK Financial Counsel, LLC 10.93% Add +1485.0% 109,605 $10.9M
Northwestern Mutual Wealth Management Co. 0.01% Add +36.6% 108,411 $10.8M
Altiora Financial Group, LLC 2.24% Add +7.9% 106,036 $10.5M
Private Advisor Group, LLC 0.06% Add +52.9% 103,773 $10.3M
MOKAN Wealth Management Inc. 6.19% Add +5.4% 103,310 $10.3M
Convergence Financial, LLC 1.97% Add +11.1% 100,590 $10.0M
Entrewealth, LLC 7.20% Add +25.3% 94,132 $9.4M
Fortis Group Advisors, LLC 1.75% Reduce -21.5% 90,748 $9.0M
Long Run Wealth Advisors, LLC 2.03% Add +85.5% 90,101 $9.0M
Anson Capital, Inc. 7.55% Reduce -0.4% 88,300 $8.8M
HighTower Advisors, LLC 0.01% Add +3.5% 84,678 $8.4M
Tidal Investments LLC 0.07% New 82,278 $8.2M
Beacon Capital Management, Inc. 0.39% Reduce -19.8% 79,278 $7.9M
Janney Montgomery Scott LLC 0.02% Reduce -8.7% 73,945 $7.4M
Valmark Advisers, Inc. 0.11% Add +133.4% 72,903 $7.3M
Waldron Private Wealth LLC 0.34% Reduce -14.3% 72,698 $7.2M
Rockefeller Capital Management L.P. 0.02% Add +2.4% 69,012 $6.9M
Citadel Advisors 0.01% New 65,825 $6.5M
Total Clarity Wealth Management, Inc. 2.12% No change 65,473 $6.5M
Money Concepts Capital Corp. 0.48% Add +580.5% 65,062 $6.5M
AlphaCore Capital LLC 0.55% New 64,701 $6.4M
Cerity Partners LLC 0.01% Add +9.1% 64,697 $6.4M
Stephens Inc. 0.09% Reduce -45.2% 61,258 $6.1M
Quadrant Capital Group LLC 0.21% Reduce -0.4% 57,617 $5.7M
EP Wealth Advisors, LLC 0.05% Reduce -5.9% 57,295 $5.7M
HM Payson & Co. 0.10% Reduce -0.7% 56,469 $5.6M
Portland Global Advisors LLC 0.69% Reduce -12.8% 55,382 $5.5M
Independent Financial Group, LLC 0.18% Add +3.3% 52,853 $5.3M
New Wave Wealth Advisors LLC 2.28% Add +275.3% 51,072 $5.1M
CoreCap Advisors, LLC 0.22% Add +87.8% 50,613 $5.0M
Ameritas Advisory Services, LLC 0.20% Add +11.3% 50,324 $5.0M
Stifel Financial Corp. 0.01% Add +110.9% 49,250 $4.9M
Cambridge Investment Research Advisors, Inc. 0.02% Add +109.8% 49,191 $4.9M
Old Mission Capital LLC 0.09% New 47,649 $4.7M
Promethium Advisors,llc 3.02% Add +49.1% 47,454 $4.7M
Wealthcare Advisory Partners LLC 0.12% Add +2.4% 44,289 $4.4M
Retirement Capital Strategies 1.72% Reduce -72.4% 44,180 $4.4M
GAMMA Investing LLC 0.33% Add +18.3% 43,565 $4.3M
Onyx Bridge Wealth Group LLC 0.62% Add +7.4% 43,407 $4.3M
Concurrent Investment Advisors, LLC 0.10% Add +116.6% 43,346 $4.3M
Magnolia Private Wealth, LLC 3.64% Add +6.9% 43,281 $4.3M
Stratos Wealth Partners, LTD. 0.07% Reduce -58.9% 43,124 $4.3M
Acorn Financial Advisory Services Inc. 0.75% Add +42.0% 41,710 $4.1M
Transcendent Capital Group LLC 2.33% Add +627.1% 41,590 $4.1M
Baird Financial Group, Inc. 0.01% Reduce -13.5% 40,993 $4.1M
Carrera Capital Advisors 0.90% Reduce -36.4% 40,806 $4.1M
Capstone Wealth Management Group LLC 3.18% Add +13.6% 39,993 $4.0M
Kestra Advisory Services, LLC 0.02% Add +25.7% 39,751 $4.0M
Jane Street Group, LLC 0.01% New 39,111 $3.9M
Orion Porfolio Solutions, LLC 0.04% Add +6.1% 38,768 $3.9M
Orion Portfolio Solutions, LLC 0.04% Add +6.1% 38,768 $3.9M
Caitlin John, LLC 3.74% Add +94.8% 38,305 $3.8M
Hibernia Wealth Partners, LLC 2.70% Add +95.6% 38,169 $3.8M
Pine Valley Investments Ltd Liability Co 0.24% Add +81.1% 37,292 $3.7M
Auour Investments LLC 1.30% Reduce -4.0% 36,023 $3.6M
Wooster Corthell Wealth Management, Inc. 0.72% Add +67.4% 35,597 $3.5M
KPP Advisory Services LLC 0.66% Reduce -3.2% 34,693 $3.5M
JPMorgan Chase & Co. 0.00% Add +102.8% 34,583 $3.4M
Calton & Associates, Inc. 0.78% New 34,575 $3.4M
Townsquare Capital LLC 0.03% Reduce -1.9% 32,805 $3.3M
Pacific Sage Partners, LLC 0.72% Add +1494.4% 32,366 $3.2M
Wedbush Securities Inc. 0.11% Add +3.0% 31,103 $3.1M
Wealth Enhancement Advisory Services, LLC 0.01% Add +0.8% 30,688 $3.1M
Iams Wealth Management, LLC 1.39% Reduce -7.2% 30,539 $3.0M
Advisor Resource Council 0.22% New 35,805 $2.7M
Susquehanna International Group, LLP 0.00% New 26,771 $2.7M
Carr Financial Group Corp 0.86% Add +3.8% 26,499 $2.6M
Farther Finance Advisors, LLC 0.07% Add +249.2% 26,226 $2.6M
Western Wealth Management, LLC 0.17% Add +12.2% 25,875 $2.6M
TFR Capital, LLC. 1.05% Reduce -8.9% 25,416 $2.5M
Ieq Capital, LLC 0.02% New 25,122 $2.5M
Blue Trust, Inc. 0.03% Add +41.9% 23,541 $2.3M
SeaBridge Investment Advisors LLC 0.49% New 23,011 $2.3M
Mariner, LLC 0.00% Add +53.7% 22,921 $2.3M
Mgo One Seven LLC 0.09% Add +78.9% 22,003 $2.2M
Stratos Wealth Advisors, LLC 0.12% Add +42.4% 21,432 $2.1M
EverSource Wealth Advisors, LLC 0.11% New 20,799 $2.1M
Centaurus Financial, Inc. 0.12% Reduce -19.1% 20,703 $2.1M
Goldman Sachs Group Inc. 0.00% Reduce -44.9% 20,589 $2.0M
Victory Financial Group, LLC 0.38% Add +36.7% 19,832 $2.0M
Flow Traders U.S. LLC 0.08% New 19,823 $2.0M
Capital Advisors, Ltd. LLC 0.26% Reduce -2.3% 19,589 $1.9M
Essex Financial Services, Inc. 0.14% Add +24.3% 19,029 $1.9M
Acas, LLC 1.41% Reduce -4.1% 18,651 $1.8M
Coldstream Capital Management Inc. 0.04% Reduce -53.3% 18,571 $1.8M
IFP Advisors, Inc 0.06% Reduce -40.5% 18,209 $1.8M
Studio Investment Management LLC 0.37% Reduce -60.9% 18,110 $1.8M
Sheets Smith Wealth Management 0.22% Add +6.0% 17,689 $1.8M
Focus Partners Wealth 0.00% Reduce -2.2% 17,595 $1.8M
Parsons Capital Management Inc. 0.09% Add +2.5% 17,327 $1.7M
Priebe Wealth Holdings LLC 1.05% Reduce -19.0% 16,889 $1.7M
Ausdal Financial Partners, Inc. 0.13% Add +37.9% 16,716 $1.7M
Steward Partners Investment Advisory, LLC 0.01% Add +3849.3% 16,271 $1.6M
Donor Advised Charitable Giving, Inc. 0.05% Reduce -35.3% 15,683 $1.6M
Kestra Private Wealth Services, LLC 0.03% Add +15.1% 15,283 $1.5M
WJ Wealth Management, LLC 0.53% Add +80.5% 14,982 $1.5M
C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.12% Add +8.4% 14,860 $1.5M
MCF Advisors LLC 0.11% Add +4.6% 14,810 $1.5M
Values First Advisors, Inc. 0.86% Add +2.9% 14,772 $1.5M
Gradient Capital Advisors, LLC 0.47% Reduce -18.6% 14,604 $1.5M
Prospera Financial Services Inc 0.03% Reduce -10.0% 13,953 $1.4M
Dakota Wealth Management 0.03% Add +4.0% 13,555 $1.3M
Avantax Advisory Services, Inc. 0.01% Add +0.9% 13,508 $1.3M
Barnes Wealth Management Group, Inc 0.82% Reduce -13.0% 12,819 $1.3M
Private Trust Co. NA 0.13% Add +12.1% 12,812 $1.3M
Collier Financial 1.05% Add +4.6% 12,432 $1.2M
Good Life Advisors, LLC 0.09% Add +35.9% 12,256 $1.2M
Atria Wealth Solutions, Inc. 0.01% Add +39.0% 11,665 $1.2M
&partners 0.01% Add +3.7% 11,577 $1.2M
GK Wealth Management LLC 1.37% Reduce -4.0% 11,015 $1.1M
Geneos Wealth Management Inc. 0.04% Add +46.2% 10,867 $1.1M
Flagship Harbor Advisors, LLC 0.06% Add +1.1% 10,731 $1.1M
O'shaughnessy Asset Management, LLC 0.01% New 10,517 $1.0M
Belpointe Asset Management LLC 0.05% New 10,468 $1.0M
Clear Creek Financial Management, LLC 0.11% Reduce -0.8% 10,409 $1.0M
Simplicity Wealth,LLC 0.08% Add +330.6% 10,228 $1.0M
Pacific Point Advisors, LLC 0.56% Add +0.7% 10,138 $1.0M
Alesco Advisors, LLC, An ESL Co 0.03% Reduce -28.5% 10,086 $1.0M
DGS Capital Management, LLC 0.26% Reduce -1.6% 9,756 $971K
TCFG Wealth Management, LLC 0.49% Reduce -0.6% 9,725 $968K
RiverTree Advisors, LLC 0.63% Add +11.1% 9,491 $944K
Phil A. Younker & Associates, Ltd. 0.93% Add +36.3% 9,475 $943K
Sightline Wealth Advisors, LLC 0.50% Add +166.9% 9,447 $940K
Sanctuary Advisors, LLC 0.01% Add +20.4% 9,397 $935K
Keystone Financial Group 0.09% Reduce -17.7% 9,306 $926K
Patten Group, Inc. 0.21% Reduce -1.2% 9,291 $924K
Lynx Investment Advisory 0.61% Reduce -7.2% 9,266 $922K
Great Valley Advisor Group, Inc. 0.02% Add +36.0% 8,743 $870K
Turning Point Benefit Group, Inc. 0.80% Add +56.6% 8,663 $860K
Gibbs Wealth Management 0.20% Reduce -1.2% 8,387 $834K
Petredis Investment Advisors LLC 0.09% New 8,385 $834K
Kohmann Bosshard Financial Services, LLC 0.10% Add +0.3% 8,225 $818K
Parallel Advisors, LLC 0.02% Add +136.5% 8,189 $815K
Synergy Asset Management, LLC 0.10% New 8,000 $796K
Embree Financial Group 0.13% Reduce -17.1% 7,793 $775K
Jefferies Financial Group Inc. 0.01% Reduce -13.9% 7,770 $773K
Tidemark, LLC 0.27% Reduce -11.0% 7,470 $743K
Avior Wealth Management, LLC 0.03% Add +13.6% 7,228 $719K
Insight 2811, Inc. 0.36% Reduce -3.4% 7,135 $710K
Ritholtz Wealth Management 0.02% New 6,994 $696K
Kings Path Partners LLC 0.34% New 6,970 $693K
Stokes Family Office, LLC 0.08% New 6,800 $677K
Sound Financial Strategies Group, LLC 0.59% No change 6,687 $665K
Bright Futures Wealth Management, LLC. 0.74% Add +139.3% 6,671 $663K
Opal Wealth Advisors, LLC 0.20% Reduce -30.1% 6,618 $658K
Opulen Financial Group LLC 0.59% Reduce -2.0% 6,490 $646K
Sykon Capital LLC 0.24% Reduce -22.5% 6,347 $631K
Pekin Hardy Strauss, Inc. 0.07% Reduce -15.3% 6,080 $605K
Nemes Rush Group LLC 0.07% Add +13.8% 5,914 $588K
Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.09% Add +41.8% 5,892 $586K
Woodard & Co. Asset Management Group Inc. 0.11% Reduce -82.6% 5,182 $516K
CacheTech Inc. 0.10% No change 5,125 $510K
PFG Investments, LLC 0.03% Add +66.0% 5,083 $506K
Modern Wealth Management, LLC 0.02% Add +47.5% 5,071 $504K
Advance Capital Management, Inc. 0.02% Reduce -12.8% 5,041 $502K
Marex Group Ltd 0.01% Reduce -54.5% 4,998 $497K
Bank of Montreal 0.00% New 4,785 $476K
StoneX Group Inc. 0.03% Add +83.3% 4,721 $470K
Prudential PLC 0.00% No change 4,713 $469K
Stonebridge Financial Planning Group, LLC 0.21% Reduce -15.8% 4,707 $468K
Sigma Planning Corp 0.01% New 4,605 $458K
Dynamic Advisor Solutions LLC 0.01% New 4,531 $451K
IHT Wealth Management, LLC 0.01% No change 4,450 $443K
Cresset Asset Management, LLC 0.00% Reduce -20.8% 4,432 $441K
Perigon Wealth Management, LLC 0.01% Add +0.7% 4,174 $415K
Financial Counselors Inc. 0.01% New 4,171 $415K
Mutual Advisors, LLC 0.01% Add +79.1% 4,088 $406K
Creative Planning 0.00% New 4,063 $404K
Moloney Securities Asset Management, LLC 0.05% Add +4.7% 4,035 $401K
Councilor Wealth, LLC 0.19% Add +4.7% 3,843 $382K
WBH Advisory Inc. 0.04% Reduce -32.9% 3,828 $381K
Stapp Wealth Management, PLLC 0.58% No change 3,814 $379K
Mercer Global Advisors Inc. 0.00% Reduce -31.9% 3,784 $377K
Legacy CG, LLC 0.12% Reduce -77.6% 3,664 $365K
Napa Wealth Management 0.20% Reduce -87.2% 3,625 $361K
O'ROURKE & COMPANY, Inc 0.18% Add +0.3% 3,607 $359K
Northwest Capital Management Inc 0.14% No change 3,430 $341K
ZynergyRetirementPlanningLLC 0.24% Reduce -46.9% 3,438 $341K
Astra Wealth Partners LLC 0.32% Reduce -58.5% 3,348 $333K
Portside Wealth Group, LLC 0.05% Reduce -2.7% 3,327 $331K
Hofer & Associates. Inc 0.22% Add +30.3% 3,327 $331K
Principle Wealth Partners LLC 0.02% New 3,122 $311K
Novem Group 0.04% Add +3.6% 3,066 $305K
Salomon & Ludwin, LLC 0.03% Reduce -18.4% 3,020 $300K
Premier Path Wealth Partners, LLC 0.05% Add +29.9% 3,014 $300K
Ridgeline Wealth Planning, LLC 0.28% Reduce -3.9% 2,888 $287K
Archford Capital Strategies, LLC 0.04% No change 2,888 $287K
Courier Capital LLC 0.02% Reduce -90.3% 2,721 $271K
Ogorek Anthony Joseph /NY/ 0.09% Add +124.9% 2,715 $270K
Focus Financial Network, Inc. 0.01% New 2,562 $255K
Destination Wealth Management 0.01% No change 2,547 $253K
Strategic Blueprint, LLC 0.01% New 2,536 $252K
Summit Investment Advisory Services, LLC 0.12% No change 2,517 $250K
Camelot Portfolios, LLC 0.15% New 2,500 $249K
Cary Street Partners Financial LLC 0.01% New 2,500 $249K
Tilia Fiduciary Partners, Inc. 0.16% Reduce -52.0% 2,416 $240K
Virtue Capital Management, LLC 0.03% New 2,413 $240K
Meridian Wealth Management, LLC 0.01% Add +4.8% 2,371 $236K
Freedom Investment Management, Inc. 0.02% Reduce -13.6% 2,351 $234K
Weaver Capital Management LLC 0.06% Add +6.4% 2,324 $231K
Vertex Planning Partners, LLC 0.05% Reduce -10.2% 2,311 $230K
Fourth Dimension Wealth, LLC 0.11% No change 2,268 $226K
Compound Planning, Inc. 0.01% New 2,267 $226K
Journey Strategic Wealth LLC 0.01% Reduce -53.0% 2,220 $221K
First Wilshire Securities Management Inc. 0.06% Reduce -3.1% 2,186 $218K
Eagle Bay Advisors LLC 0.17% Reduce -65.3% 2,060 $205K
Etesian Wealth Advisors, Inc. 0.09% New 2,024 $201K
AE Wealth Management LLC 0.00% Reduce -1.6% 1,998 $199K
Highline Wealth Partners LLC 0.06% Reduce -43.1% 1,821 $181K
Luminist Capital LLC 0.18% New 1,659 $165K
St Germain D J Co. Inc. 0.01% Reduce -96.7% 1,584 $158K
Clearstead Trust, LLC 0.03% No change 1,377 $137K
CIBC Private Wealth Group LLC 0.00% No change 1,372 $136K
Comerica Bank 0.00% No change 1,152 $115K
Spire Wealth Management 0.00% No change 1,000 $99K
Fifth Third Bancorp 0.00% Reduce -20.9% 852 $85K
Aptus Capital Advisors, LLC 0.00% Add +8.3% 629 $63K
NorthRock Partners, LLC 0.00% Reduce -8.8% 530 $53K
Financial Network Wealth Advisors LLC 0.07% Add +49.9% 523 $52K
MAI Capital Management 0.00% No change 479 $48K
Belmont Capital, LLC 0.00% New 221 $22K
Colonial Trust Co / SC 0.00% No change 191 $19K
JDM Financial Group LLC 0.01% No change 178 $18K
1620 Investment Advisors, Inc. 0.01% No change 100 $10K
Simplex Trading, LLC 0.00% New 100 $9K
Harbor Investment Advisory, LLC 0.00% Reduce -50.5% 51 $5K
Russell Investments Group, Ltd. 0.00% New 41 $4K
Principia Wealth Advisory, LLC 0.00% Add +111.1% 38 $4K
Creative Financial Designs Inc. 0.00% No change 26 $3K
Harbour Investments, Inc. 0.00% Reduce -81.3% 24 $2K
Tower Research Capital LLC (TRC) 0.00% New 8 $796
Bartlett & Co. Wealth Management LLC 0.00% New 7 $696

"% of holder's portfolio" is BILS's weight in each manager's 13F, not the share of SS Spdrb B 3-12M T-Bill ETF the manager owns.