diff --git a/litellm/repositories/daily_activity_repository.py b/litellm/repositories/daily_activity_repository.py
index e9d8c3bd309..2e34582091a 100644
--- a/litellm/repositories/daily_activity_repository.py
+++ b/litellm/repositories/daily_activity_repository.py
@@ -282,13 +282,20 @@ class DailyActivityRepository:
             scope.timezone_offset_minutes,
             include_current_utc_day=scope.include_current_utc_day,
         )
-        entity_filter: Final = {
-            **({"in": list(scope.entity_ids)} if scope.entity_ids is not None else {}),
-            **({"not": {"in": list(scope.exclude_entity_ids)}} if scope.exclude_entity_ids else {}),
-        }
+        exclusion_filter: Final = (
+            {
+                "OR": [
+                    {scope.entity_id_field: None},
+                    {scope.entity_id_field: {"not": {"in": list(scope.exclude_entity_ids)}}},
+                ]
+            }
+            if scope.exclude_entity_ids
+            else {}
+        )
         conditions: Final = {
             "date": {"gte": adjusted_start, "lte": adjusted_end},
-            **({scope.entity_id_field: entity_filter} if entity_filter else {}),
+            **({scope.entity_id_field: {"in": list(scope.entity_ids)}} if scope.entity_ids is not None else {}),
+            **exclusion_filter,
             **({"model": scope.model} if scope.model else {}),
             **({"api_key": {"in": list(scope.api_keys)}} if scope.api_keys is not None else {}),
         }
diff --git a/litellm/repositories/daily_activity_sql.py b/litellm/repositories/daily_activity_sql.py
index 96920b55eb0..f12dc1be5ae 100644
--- a/litellm/repositories/daily_activity_sql.py
+++ b/litellm/repositories/daily_activity_sql.py
@@ -78,7 +78,14 @@ def build_where_clause(scope: DailyActivityScope, *, start_index: int = 1) -> tu
             if has_entity_array
             else ()
         ),
-        *((f'NOT ("{scope.entity_id_field}" = ANY(${exclusion_index}::text[]))',) if scope.exclude_entity_ids else ()),
+        *(
+            (
+                f'("{scope.entity_id_field}" IS NULL '
+                f'OR NOT ("{scope.entity_id_field}" = ANY(${exclusion_index}::text[])))',
+            )
+            if scope.exclude_entity_ids
+            else ()
+        ),
         *((f"model = ${model_index}",) if scope.model else ()),
         *(
             ("FALSE",)
diff --git a/tests/code_coverage_tests/unbounded_in_baseline.txt b/tests/code_coverage_tests/unbounded_in_baseline.txt
index 0a95ebfc01f..c42a6b0ddf5 100644
--- a/tests/code_coverage_tests/unbounded_in_baseline.txt
+++ b/tests/code_coverage_tests/unbounded_in_baseline.txt
@@ -138,7 +138,7 @@ litellm/proxy/utils.py PrismaClient.get_data prisma budget_id.in `budget_id_list
 litellm/proxy/utils.py PrismaClient.get_data prisma team_id.in `team_id_list` 0
 litellm/proxy/utils.py PrismaClient.get_data prisma user_id.in `user_id_list` 0
 litellm/proxy/utils.py prefetch_config_params prisma param_name.in `param_names` 0
-litellm/repositories/daily_activity_repository.py DailyActivityRepository.daily_rows prisma ?.in `list(scope.entity_ids)` 0
+litellm/repositories/daily_activity_repository.py DailyActivityRepository.daily_rows prisma [scope.entity_id_field].in `list(scope.entity_ids)` 0
 litellm/repositories/daily_activity_repository.py DailyActivityRepository.daily_rows prisma api_key.in `list(scope.api_keys)` 0
 litellm/repositories/daily_activity_repository.py DailyActivityRepository.daily_rows prisma not.in `list(scope.exclude_entity_ids)` 0
 litellm/router_utils/auto_router_model_naming.py <module> raw-sql classifier_type.IN `IN ({_LLM_CLASSIFIER_TYPES_SQL})` 0
diff --git a/tests/integration/spend/_daily_activity_fixtures.py b/tests/integration/spend/_daily_activity_fixtures.py
index d6e819edca6..9cde3ed0fb9 100644
--- a/tests/integration/spend/_daily_activity_fixtures.py
+++ b/tests/integration/spend/_daily_activity_fixtures.py
@@ -317,3 +317,25 @@ def seed_daily_team_unassigned_fixture(
             rows,
         )
     connection.commit()
+
+
+def seed_daily_team_exclusion_fixture(connection: psycopg.Connection, *, schema: str) -> None:
+    team_table: Final = sql.Identifier(schema, "LiteLLM_DailyTeamSpend")
+    rows: Final = (
+        ("exclusion-null", None, "key-excluded-null", 3.0),
+        ("exclusion-empty", "", "key-excluded-empty", 7.0),
+        ("exclusion-dashboard", "litellm-dashboard", "key-excluded-dashboard", 11.0),
+        ("exclusion-normal", "team-normal", "key-excluded-normal", 13.0),
+    )
+    with connection.cursor() as cursor:
+        cursor.executemany(
+            sql.SQL("""
+            INSERT INTO {}
+                (id, team_id, date, api_key, model, model_group, custom_llm_provider,
+                 mcp_namespaced_tool_name, endpoint, prompt_tokens, spend, api_requests, updated_at)
+            VALUES (%s, %s, '2026-06-04', %s, 'model-a', '', 'provider-a', NULL, '/v1/chat/completions',
+                    1, %s, 1, '2026-06-04 12:00:00')
+            """).format(team_table),
+            rows,
+        )
+    connection.commit()
diff --git a/tests/integration/spend/test_daily_activity_repository.py b/tests/integration/spend/test_daily_activity_repository.py
index c347e18bf64..c6ffeef2eba 100644
--- a/tests/integration/spend/test_daily_activity_repository.py
+++ b/tests/integration/spend/test_daily_activity_repository.py
@@ -15,6 +15,7 @@ from integration.spend._daily_activity_fixtures import (
     seed_daily_activity_fixture,
     seed_daily_tag_activity_fixture,
     seed_daily_tag_float_tie_fixture,
+    seed_daily_team_exclusion_fixture,
     seed_daily_team_unassigned_fixture,
 )
 from prisma import Prisma
@@ -91,6 +92,7 @@ async def _daily_activity_database(
     include_tag_activity: bool = False,
     include_tag_float_tie_activity: bool = False,
     include_team_unassigned_activity: bool = False,
+    include_team_exclusion_activity: bool = False,
 ) -> AsyncIterator[Prisma]:
     schema: Final = f"integration_{uuid.uuid4().hex}"
     url: Final = os.environ["DATABASE_URL"]
@@ -111,6 +113,8 @@ async def _daily_activity_database(
                     seed_daily_team_unassigned_fixture(
                         connection, schema=schema, ptu_sentinel_api_key=constants.PTU_SENTINEL_API_KEY
                     )
+                if include_team_exclusion_activity:
+                    seed_daily_team_exclusion_fixture(connection, schema=schema)
             database: Final = Prisma(datasource={"url": _scoped_url(url, schema)})
             await database.connect()
             try:
@@ -622,3 +626,38 @@ async def test_team_entity_rollups_merge_null_and_empty_entity_ids() -> None:
         keyed_rows: Final = tuple(row for row in aggregate.entity_rows or () if not row.api_key_rolled)
         assert {row.entity_id for row in keyed_rows} == {""}
         assert {row.api_key for row in keyed_rows} == {"key-unassigned-null", "key-unassigned-empty"}
+
+
+@pytest.mark.asyncio
+async def test_team_exclusion_keeps_null_and_empty_entity_rows() -> None:
+    async with _daily_activity_database(include_team_exclusion_activity=True) as database:
+        repository: Final = _repository(database)
+        scope: Final = DailyActivityScope(
+            table=DailyActivityTable.TEAM,
+            entity_id_field="team_id",
+            entity_ids=None,
+            exclude_entity_ids=("litellm-dashboard",),
+            api_keys=None,
+            start_date="2026-06-04",
+            end_date="2026-06-04",
+            model=None,
+            timezone_offset_minutes=None,
+        )
+        aggregate: Final = await repository.aggregated(scope, include_entity_breakdown=True, api_key_limit=10)
+
+        totals: Final = tuple(row for row in aggregate.grouping_rows if row.group_level == 127)
+        assert len(totals) == 1
+        assert totals[0].spend == 23.0
+        assert aggregate.distinct_api_keys == 3
+
+        keyed_rows: Final = tuple(row for row in aggregate.entity_rows or () if not row.api_key_rolled)
+        assert {row.api_key for row in keyed_rows} == {"key-excluded-null", "key-excluded-empty", "key-excluded-normal"}
+        assert {row.entity_id for row in keyed_rows} == {"", "team-normal"}
+
+        page: Final = await repository.key_page(scope, offset=0, limit=10)
+        assert page.total_api_keys == 3
+        assert {row.api_key for row in page.rows} == {"key-excluded-null", "key-excluded-empty", "key-excluded-normal"}
+
+        daily: Final = await repository.daily_rows(scope, page=1, page_size=10)
+        assert daily.total_count == 3
+        assert {row.api_key for row in daily.rows} == {"key-excluded-null", "key-excluded-empty", "key-excluded-normal"}
diff --git a/tests/integration/spend/test_daily_activity_routes.py b/tests/integration/spend/test_daily_activity_routes.py
index 7c8db96966e..9e4c16e573c 100644
--- a/tests/integration/spend/test_daily_activity_routes.py
+++ b/tests/integration/spend/test_daily_activity_routes.py
@@ -512,3 +512,37 @@ async def test_user_key_pages_and_details_respect_caller_scope() -> None:
             other_body: Final = JSON_OBJECT.validate_json(other_details.content)
             assert object_value(other_body["metadata"])["total_api_keys"] == 0
             assert _aggregate_top_keys(other_body["results"]) == frozenset()
+
+
+@pytest.mark.asyncio
+async def test_team_routes_exclusion_keeps_unassigned_keys() -> None:
+    async with _daily_activity_database(include_team_exclusion_activity=True) as database:
+        repository: Final = _repository(database)
+        app: Final = FastAPI()
+        app.include_router(daily_activity_router)
+        app.dependency_overrides[user_api_key_auth] = lambda: UserAPIKeyAuth(
+            user_id="integration-admin", user_role=LitellmUserRoles.PROXY_ADMIN
+        )
+        app.dependency_overrides[get_daily_activity_prisma_client] = lambda: _PrismaDatabase(database)
+        app.dependency_overrides[get_daily_activity_repository] = lambda: repository
+
+        async with httpx.AsyncClient(transport=httpx.ASGITransport(app=app), base_url="http://testserver") as client:
+            params: Final = {
+                "start_date": "2026-06-04",
+                "end_date": "2026-06-04",
+                "exclude_team_ids": "litellm-dashboard",
+            }
+            surviving_keys: Final = frozenset(("key-excluded-null", "key-excluded-empty", "key-excluded-normal"))
+
+            aggregated: Final = await client.get("/team/daily/activity/aggregated", params=params)
+            assert aggregated.status_code == 200, aggregated.text
+            aggregated_body: Final = JSON_OBJECT.validate_json(aggregated.content)
+            assert object_value(aggregated_body["metadata"])["total_spend"] == 23.0
+            assert object_value(aggregated_body["metadata"])["total_api_keys"] == 3
+            assert _aggregate_top_keys(aggregated_body["results"]) == surviving_keys
+
+            page: Final = await client.get("/team/daily/activity/aggregated/keys", params={**params, "limit": 10})
+            assert page.status_code == 200, page.text
+            page_body: Final = DailyActivityKeyPageResponse.model_validate_json(page.content)
+            assert page_body.total_api_keys == 3
+            assert frozenset(row.api_key for row in page_body.api_keys) == surviving_keys
diff --git a/tests/unit/repositories/test_daily_activity_repository.py b/tests/unit/repositories/test_daily_activity_repository.py
index f0bbfd32d2c..4bb833f2bc2 100644
--- a/tests/unit/repositories/test_daily_activity_repository.py
+++ b/tests/unit/repositories/test_daily_activity_repository.py
@@ -494,7 +494,8 @@ async def test_daily_rows_selects_the_table_and_applies_filters_and_pagination(
 
     expected_where: Final = {
         "date": {"gte": "2026-01-01", "lte": "2026-01-31"},
-        entity_field: {"in": ["entity-1"], "not": {"in": ["excluded-1"]}},
+        entity_field: {"in": ["entity-1"]},
+        "OR": [{entity_field: None}, {entity_field: {"not": {"in": ["excluded-1"]}}}],
         "model": "model-1",
         "api_key": {"in": ["key-1"]},
     }
@@ -516,6 +517,22 @@ async def test_daily_rows_selects_the_table_and_applies_filters_and_pagination(
     assert sum(len(daily_table.find_many_calls) for daily_table in tables.values()) == 1
 
 
+@pytest.mark.asyncio
+async def test_daily_rows_exclusion_without_entity_filter_keeps_null_entity_rows() -> None:
+    database = _FakeDatabase()
+    repository, _ = _repository(database)
+    scope = _scope(table=DailyActivityTable.TEAM, entity_ids=None, exclude_entity_ids=("litellm-dashboard",))
+
+    await repository.daily_rows(scope, page=1, page_size=10)
+
+    expected_where: Final = {
+        "date": {"gte": "2026-01-01", "lte": "2026-01-31"},
+        "OR": [{"team_id": None}, {"team_id": {"not": {"in": ["litellm-dashboard"]}}}],
+    }
+    assert database.litellm_dailyteamspend.count_calls == [expected_where]
+    assert database.litellm_dailyteamspend.find_many_calls == [expected_where]
+
+
 @pytest.mark.asyncio
 async def test_export_is_lazy_and_uses_the_last_row_as_the_next_cursor(monkeypatch: pytest.MonkeyPatch) -> None:
     monkeypatch.setattr(constants, "USAGE_EXPORT_BATCH_SIZE", 2)
diff --git a/tests/unit/repositories/test_daily_activity_sql.py b/tests/unit/repositories/test_daily_activity_sql.py
index 67f15712b11..c775dfd1f88 100644
--- a/tests/unit/repositories/test_daily_activity_sql.py
+++ b/tests/unit/repositories/test_daily_activity_sql.py
@@ -67,7 +67,7 @@ def test_where_clause_binds_each_filter_as_a_single_array_parameter() -> None:
 
     assert sql == (
         'date >= $1 AND date <= $2 AND "user_id" = ANY($3::text[]) '
-        'AND NOT ("user_id" = ANY($4::text[])) AND model = $5 AND api_key = ANY($6::text[])'
+        'AND ("user_id" IS NULL OR NOT ("user_id" = ANY($4::text[]))) AND model = $5 AND api_key = ANY($6::text[])'
     )
     assert params == (
         "2026-01-01",
@@ -79,6 +79,15 @@ def test_where_clause_binds_each_filter_as_a_single_array_parameter() -> None:
     )
 
 
+def test_where_clause_exclusion_keeps_null_entity_rows() -> None:
+    scope = _scope(table=DailyActivityTable.TEAM, entity_ids=None, exclude_entity_ids=("litellm-dashboard",))
+
+    sql, params = build_where_clause(scope)
+
+    assert sql == 'date >= $1 AND date <= $2 AND ("team_id" IS NULL OR NOT ("team_id" = ANY($3::text[])))'
+    assert params == ("2026-01-01", "2026-01-31", ["litellm-dashboard"])
+
+
 @pytest.mark.parametrize(
     ("entity_ids", "api_keys", "expected_sql", "expected_params"),
     [