SPMB vs SMBS overlap

SPMB and SMBS overlap 21.5% by weight, across 798 shared holdings.

SPMBSMBS

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21.5%

overlap by weight, across 798 shared holdings

SPMB48.4% of the fund is in shared holdings, of 2,699

SMBS28.9% of the fund is in shared holdings, of 4,196

Top shared holdings

Holding	SPMB	SMBS	Overlap
FR Sd8193	0.44%	0.27%	0.27%
FR Sd8106	0.33%	0.26%	0.26%
FR Rq0110	0.29%	0.25%	0.25%
G2 Mb0871	0.41%	0.24%	0.24%
FR Rq0041	0.76%	0.24%	0.24%
FR Sd8113	0.23%	0.22%	0.22%
G2 Mb0424	0.55%	0.21%	0.21%
G2 Ma7135	0.28%	0.20%	0.20%
G2 Mb0146	0.34%	0.19%	0.19%
G2 Ma7192G2	0.22%	0.19%	0.19%
FN Ma4255	0.26%	0.18%	0.18%
G2 Ma8267	0.18%	0.19%	0.18%
FR Sd8128	0.29%	0.18%	0.18%
G2 Ma7254	0.16%	0.16%	0.16%
FN Ma4378	0.30%	0.16%	0.16%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: SPMB, SEC Form N-PORT, June 30, 2026; SMBS, SEC Form N-PORT, May 31, 2026.

institutions report holding both, of 294 holding any

SPMB13.1% of its 13F dollars, 16.8% of its 256 holders

SMBS0.7% of its 13F dollars, 53.1% of its 81 holders

Largest institutions holding both

Firm	SPMB	SMBS
LPL Financial LLC	$500.2M	$1.0M
Bank of America Corp.	$50.1M	$667K
Goldman Sachs Group Inc.	$43.3M	$2.2M
Assetmark, Inc.	$43.8M	$5K
Morgan Stanley	$42.5M	$230K
Citadel Advisors LLC	$32.1M	$4.1M
JPMorgan Chase & Co	$33.8M	$2.3M
Summit Financial, LLC	$15.5M	$3.3M
Cetera Investment Advisers	$17.5M	$393K
CacheTech Inc.	$2.0M	$11.5M
Adams Wealth Management	$1.7M	$9.8M
Mariner, LLC	$8.8M	$368K
Integrated Wealth Concepts LLC	$8.5M	$26K
Northwestern Mutual Wealth Management Co	$5.0M	$114K
Osaic Holdings, Inc.	$3.8M	$131K

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: SPMB institutional holders, SMBS institutional holders.

Frequently asked questions

How much do SPMB and SMBS overlap?

21.5% by weight, with 798 holdings in common, using holdings for SPMB as of June 30, 2026 and SMBS as of May 31, 2026. The largest shared position is FR SD8193.

Do institutions hold both SPMB and SMBS?

43 Form 13F filers report positions in both, out of 294 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.