Vault-13

VANGUARD SPECIALIZED FUNDS VIG

DIV APP ETF · ETP · CUSIP 921908844

2,026 institutional holders +196 vs Q3 2023
206,471,295206.5m shares reported held*
$35.2bnreported value*
110 new 789 added 684 reduced 46 sold out net bought ≈ $4.0bn (+23.8m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($122.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $170.41. Options: 4 managers hold calls ($46.0m notional), 5 hold puts ($14.3m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,649Q4 22: 1,796Q1 23: 1,785Q2 23: 1,800Q3 23: 1,830Q4 23: 2,0262,026Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 20221,649
Q4 20221,796
Q1 20231,785
Q2 20231,800
Q3 20231,830
Q4 20232,026

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1k01kQ4 22: 792 bought or addedQ4 22: 654 cut or sold outQ4 22Q1 23: 764 bought or addedQ1 23: 779 cut or sold outQ1 23Q2 23: 644 bought or addedQ2 23: 806 cut or sold outQ2 23Q3 23: 846 bought or addedQ3 23: 706 cut or sold outQ3 23Q4 23: 899 bought or addedQ4 23: 730 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022792654
Q1 2023764779
Q2 2023644806
Q3 2023846706
Q4 2023899730

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$25m$50m$75m$100mQ1 23 calls: $77.6mQ1 23 puts: $24.2mQ1 23P/C 0.31Q2 23 calls: $99.0mQ2 23 puts: $27.4mQ2 23P/C 0.28Q3 23 calls: $54.3mQ3 23 puts: $26.8mQ3 23P/C 0.49Q4 23 calls: $46.0mQ4 23 puts: $14.3mQ4 23P/C 0.31
Numbers
QuarterCallsPutsP/C
Q1 2023$77.6m$24.2m0.31
Q2 2023$99.0m$27.4m0.28
Q3 2023$54.3m$26.8m0.49
Q4 2023$46.0m$14.3m0.31

Biggest buyers

MORGAN STANLEY Added +11,941,534+11.9m
JPMORGAN CHASE & CO Added +4,747,371+4.7m
BANK OF AMERICA CORP /DE/ Added +3,436,566+3.4m
Wealthfront Advisers LLC Added +336,614+336.6k
VANGUARD GROUP INC Added +302,701+302.7k
WELLS FARGO & COMPANY/MN Added +293,336+293.3k
HB Wealth Management, LLC Added +254,175+254.2k
UBS Group AG Added +253,148+253.1k
Confluence Wealth Services, Inc. Added +242,983+243.0k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +240,572+240.6k

Biggest sellers

OSAIC HOLDINGS, INC. Reduced -447,592-447.6k
SYNOVUS FINANCIAL CORP Reduced -305,145-305.1k
Valence8 US LP Sold out -215,549-215.5k
Strategic Investment Solutions, Inc. /IL Reduced -198,429-198.4k
TORONTO DOMINION BANK Reduced -192,971-193.0k
EVOKE WEALTH, LLC Reduced -122,661-122.7k
TRUIST FINANCIAL CORP Reduced -110,301-110.3k
Clearstead Advisors, LLC Reduced -109,029-109.0k
Ancora Advisors LLC Reduced -105,490-105.5k
Ameritas Advisory Services, LLC Reduced -80,114-80.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $36.2m212.3k shares
CITADEL ADVISORS LLC Added $9.6m56.5k shares
Cutler Group LLC / CA Added $220.0k55.9k shares
BANK OF AMERICA CORP /DE/ New $17.0k100 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $11.1m65.4k shares
CITADEL ADVISORS LLC Reduced $1.8m10.3k shares
BANK OF AMERICA CORP /DE/ Unchanged $903.1k5.3k shares
WELLS FARGO & COMPANY/MN Added $528.2k3.1k shares
Cutler Group LLC / CA Added $2.0k6.1k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.51% of their portfolio CHARLOTTE, NC 26,487,61226.5m $4.5bn $4.5bn 0.51% Added +3.4m +3,436,566
2 MORGAN STANLEY 0.17% of their portfolio NEW YORK, NY 23,266,92023.3m $4.0bn $4.0bn 0.17% Added +11.9m +11,941,534
3 WELLS FARGO & COMPANY/MN 0.51% of their portfolio SAN FRANCISCO, CA 10,648,37210.6m $1.8bn $1.8bn 0.51% Added +293.3k +293,336
4 VANGUARD GROUP INC 0.03% of their portfolio Valley Forge, PA 8,168,8608.2m $1.4bn $1.4bn 0.03% Added +302.7k +302,701
5 Wealthfront Advisers LLC 4.32% of their portfolio Palo Alto, CA 6,594,7276.6m $1.1bn $1.1bn 4.32% Added +336.6k +336,614
6 UBS Group AG 0.44% of their portfolio ZURICH, V8 6,446,4946.4m $1.1bn $1.1bn 0.44% Added +253.1k +253,148
7 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 5,741,3545.7m $978.3m $978.3m 0.05% Added +4.7m +4,747,371
8 LPL Financial LLC 0.55% of their portfolio FORT MILL, SC 5,297,7645.3m $902.7m $902.7m 0.55% Added +98.4k +98,371
9 HB Wealth Management, LLC 9.42% of their portfolio Atlanta, GA 3,847,0283.8m $655.5m $655.5m 9.42% Added +254.2k +254,175
10 ROYAL BANK OF CANADA 0.16% of their portfolio TORONTO, A6 3,797,3273.8m $647.1m $647.1m 0.16% Added +190.8k +190,846
11 COMMONWEALTH EQUITY SERVICES, LLC 0.86% of their portfolio WALTHAM, MA 2,741,9692.7m $467.2m $467.2m 0.86% Added +87.2k +87,225
12 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 2,610,9142.6m $446.9m $446.9m 0.13% Added +121.0k +121,035
13 RAYMOND JAMES & ASSOCIATES 0.28% of their portfolio ST PETERSBURG, FL 2,228,0272.2m $379.7m $379.7m 0.28% Added +89.0k +89,008
14 HighTower Advisors, LLC 0.61% of their portfolio CHICAGO, IL 2,137,2512.1m $364.2m $364.2m 0.61% Added +116.8k +116,835
15 Bank of New York Mellon Corp 0.07% of their portfolio NEW YORK, NY 2,108,2282.1m $359.2m $359.2m 0.07% Reduced -30.4k -30,386
16 Raymond James Financial Services Advisors, Inc. 0.55% of their portfolio ST. PETERSBURG, FL 1,992,0412.0m $339.4m $339.4m 0.55% Added +46.8k +46,778
17 ENVESTNET ASSET MANAGEMENT INC 0.13% of their portfolio Berwyn, PA 1,903,4501.9m $324.3m $324.3m 0.13% Added +35.5k +35,549
18 SIGNATUREFD, LLC 7.31% of their portfolio ATLANTA, GA 1,857,8871.9m $316.6m $316.6m 7.31% Added +67.8k +67,833
19 TRUIST FINANCIAL CORP 0.43% of their portfolio CHARLOTTE, NC 1,570,1531.6m $267.6m $267.6m 0.43% Reduced -110.3k -110,301
20 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.29% of their portfolio MILWAUKEE, WI 1,522,7641.5m $259.5m $259.5m 0.29% Added +42.4k +42,406
21 OSAIC HOLDINGS, INC. 0.40% of their portfolio SCOTTSDALE, AZ 1,356,1131.4m $231.1m $231.1m 0.40% Reduced -447.6k -447,592
22 Mariner, LLC 0.53% of their portfolio Overland Park, KS 1,312,2621.3m $223.6m $223.6m 0.53% Reduced -16.3k -16,297
23 TRUST POINT INC. 18.47% of their portfolio LA CROSSE, WI 1,310,4541.3m $223.3m $223.3m 18.47% First filing
24 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.12% of their portfolio Toronto, A6 1,218,7111.2m $207.7m $207.7m 0.12% Added +27.9k +27,861
25 Modera Wealth Management, LLC 3.36% of their portfolio WESTWOOD, NJ 1,192,2701.2m $203.2m $203.2m 3.36% Added +80.6k +80,580
26 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio SAN FRANCISCO, CA 1,187,7331.2m $202.2m $202.2m 0.05% Added +240.6k +240,572
27 Joel Isaacson & Co., LLC 11.13% of their portfolio NEW YORK, NY 1,063,8571.1m $181.3m $181.3m 11.13% Added +25.7k +25,686
28 CAPTRUST FINANCIAL ADVISORS 0.62% of their portfolio RALEIGH, NC 1,051,7641.1m $179.2m $179.2m 0.62% Reduced -3.5k -3,454
29 Creative Planning 0.33% of their portfolio OVERLAND PARK, KS 1,047,6031.0m $178.5m $178.5m 0.33% Added +76.2k +76,214
30 Corient Private Wealth LP 0.32% of their portfolio MIAMI, FL 1,028,2361.0m $175.2m $175.2m 0.32% Added +9.0k +8,996
31 STIFEL FINANCIAL CORP 0.22% of their portfolio ST. LOUIS, MO 1,027,4861.0m $175.1m $175.1m 0.22% Added +56.7k +56,694
32 ASPIRIANT, LLC 7.47% of their portfolio San Francisco, CA 973,008973.0k $165.8m $165.8m 7.47% Added +23.0k +22,956
33 BANK OF MONTREAL /CAN/ 0.05% of their portfolio TORONTO, A6 897,937897.9k $153.3m $153.3m 0.05% Reduced -44.7k -44,690
34 BROWN ADVISORY INC 0.21% of their portfolio BALTIMORE, MD 866,175866.2k $147.6m $147.6m 0.21% Reduced -36.9k -36,916
35 Cambridge Investment Research Advisors, Inc. 0.63% of their portfolio FAIRFIELD, IA 862,597862.6k $147.0m $147.0m 0.63% Reduced -26.0k -26,030
36 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.39% of their portfolio PLYMOUTH, MN 796,526796.5k $135.7m $135.7m 0.39% Added +34.6k +34,572
37 LINCOLN NATIONAL CORP 2.27% of their portfolio RADNOR, PA 757,582757.6k $129.1m $129.1m 2.27% Added +14.0k +14,014
38 MAI Capital Management 1.67% of their portfolio INDEPENDENCE, OH 739,270739.3k $126.0m $126.0m 1.67% Added +35.6k +35,627
39 Nicholas Hoffman & Company, LLC. 7.42% of their portfolio ATLANTA, GA 723,070723.1k $123.2m $123.2m 7.42% Added +79.4k +79,388
40 BLAIR WILLIAM & CO/IL 0.40% of their portfolio CHICAGO, IL 697,480697.5k $118.9m $118.9m 0.40% Reduced -8.4k -8,439
41 Focus Partners Wealth 1.52% of their portfolio ST LOUIS, MO 681,364681.4k $116.1m $116.1m 1.52% First filing
42 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 671,939671.9k $114.5m $114.5m 0.03% Added +40.1k +40,084
43 Retirement Planning Group, LLC 10.24% of their portfolio LEAWOOD, KS 671,448671.4k $114.4m $114.4m 10.24% Added +5.7k +5,671
44 GLENMEDE TRUST CO NA 0.57% of their portfolio PHILADELPHIA, PA 642,203642.2k $109.4m $109.4m 0.57% Added +47.4k +47,395
45 FIFTH THIRD BANCORP 0.47% of their portfolio CINCINNATI, OH 641,796641.8k $109.4m $109.4m 0.47% Reduced -22.9k -22,905
46 Baird Financial Group, Inc. 0.24% of their portfolio MILWAUKEE, WI 621,457621.5k $105.9m $105.9m 0.24% Added +19.8k +19,761
47 Northeast Financial Consultants Inc 5.85% of their portfolio WESTPORT, CT 620,169620.2k $105.7m $105.7m 5.85% Added +28.8k +28,797
48 Rockefeller Capital Management L.P. 0.35% of their portfolio NEW YORK, NY 608,352608.4k $103.7m $103.7m 0.35% Added +57.0k +56,985
49 Waverly Advisors, LLC 3.57% of their portfolio BIRMINGHAM, AL 558,992559.0k $95.3m $95.3m 3.57% Added +65.5k +65,502
50 Performance Wealth Partners, LLC 4.13% of their portfolio HINSDALE, IL 551,701551.7k $94.0m $94.0m 4.13% Added +4.0k +4,028
51 Private Advisor Group, LLC 0.73% of their portfolio MORRISTOWN, NJ 549,599549.6k $93.7m $93.7m 0.73% Added +8.1k +8,061
52 Cerity Partners LLC 0.31% of their portfolio NEW YORK, NY 546,394546.4k $93.1m $93.1m 0.31% Added +43.1k +43,061
53 Stokes Family Office, LLC 12.33% of their portfolio NEW ORLEANS, LA 535,471535.5k $91.2m $91.2m 12.33% Reduced -66.2k -66,157
54 DAVENPORT & Co LLC 0.62% of their portfolio RICHMOND, VA 522,535522.5k $89.0m $89.0m 0.62% Added +26.8k +26,840
55 Janney Montgomery Scott LLC 0.28% of their portfolio PHILADELPHIA, PA 505,707505.7k $86.2m $86.2m 0.28% Reduced -50.0k -50,016
56 Annex Advisory Services, LLC 3.56% of their portfolio BROOKFIELD, WI 500,638500.6k $85.3m $85.3m 3.56% Reduced -3.5k -3,464
57 MML INVESTORS SERVICES, LLC 0.39% of their portfolio SPRINGFIELD, MA 498,088498.1k $84.9m $84.9m 0.39% Added +36.3k +36,285
58 Cresset Asset Management, LLC 0.51% of their portfolio Chicago, IL 496,031496.0k $84.5m $84.5m 0.51% Added +47.2k +47,205
59 FRANKLIN RESOURCES INC 0.04% of their portfolio San Mateo, CA 447,663447.7k $76.3m $76.3m 0.04% Reduced -7.1k -7,121
60 Cetera Advisor Networks LLC 0.41% of their portfolio EL SEGUNDO, CA 428,047428.0k $72.9m $72.9m 0.41% Added +3.9k +3,866
61 Confluence Wealth Services, Inc. 7.45% of their portfolio MCMURRAY, PA 398,995399.0k $68.0m $68.0m 7.45% Added +243.0k +242,983
62 PARK AVENUE SECURITIES LLC 0.92% of their portfolio NEW YORK, NY 391,767391.8k $66.8m $66.8m 0.92% Reduced -7.3k -7,332
63 JONES FINANCIAL COMPANIES LLLP 0.10% of their portfolio DES PERES, MO 390,923390.9k $66.6m $66.6m 0.10% Added +6.4k +6,418
64 Atria Wealth Solutions, Inc. 0.83% of their portfolio NEW YORK, NY 388,743388.7k $66.2m $66.2m 0.83% Added +14.2k +14,159
65 TD PRIVATE CLIENT WEALTH LLC 2.27% of their portfolio NEW YORK, NY 368,320368.3k $62.8m $62.8m 2.27% Added +19.7k +19,702
66 MERCER GLOBAL ADVISORS INC /ADV 0.18% of their portfolio DENVER, CO 358,852358.9k $61.1m $61.1m 0.18% Reduced -10.1k -10,089
67 Hubbell Strickland Wealth Management, LLC 33.38% of their portfolio NEW ORLEANS, LA 358,002358.0k $61.0m $61.0m 33.38% Added +2.0k +1,962
68 RATIONAL ADVISORS, INC. 6.20% of their portfolio San Juan, PR 357,204357.2k $60.9m $60.9m 6.20% Reduced -32.7k -32,656
69 Systematic Alpha Investments, LLC 2.70% of their portfolio PRINCETON, NJ 353,000353.0k $60.2m $60.2m 2.70% Unchanged
70 Paragon Capital Management Ltd 12.07% of their portfolio DENVER, CO 346,601346.6k $59.1m $59.1m 12.07% Reduced -156 -156
71 Kestra Advisory Services, LLC 0.47% of their portfolio AUSTIN, TX 341,540341.5k $58.2m $58.2m 0.47% Added +13.6k +13,570
72 Provenance Wealth Advisors, LLC 7.83% of their portfolio FORT LAUDERDALE, FL 341,057341.1k $58.1m $58.1m 7.83% Reduced -8.4k -8,363
73 Haverford Trust Co 0.60% of their portfolio Radnor, PA 316,177316.2k $53.9m $53.9m 0.60% Added +43.4k +43,394
74 Berkshire Money Management, Inc. 7.08% of their portfolio DALTON, MA 312,190312.2k $53.2m $53.2m 7.08% Reduced -38.3k -38,288
75 Advisor OS, LLC 6.79% of their portfolio CHICAGO, IL 306,037306.0k $52.1m $52.1m 6.79% Added +35.7k +35,716
76 IEQ CAPITAL, LLC 0.86% of their portfolio Foster City, CA 305,145305.1k $52.0m $52.0m 0.86% Added +4.3k +4,317
77 360 Financial, Inc. 22.80% of their portfolio WAYZATA, MN 303,240303.2k $51.7m $51.7m 22.80% Added +951 +951
78 Beacon Pointe Advisors, LLC 0.61% of their portfolio NEWPORT BEACH, CA 296,884296.9k $50.6m $50.6m 0.61% Reduced -47.0k -47,014
79 GLOBALT Investments LLC / GA 2.07% of their portfolio Atlanta, GA 292,860292.9k $49.9m $49.9m 2.07% First filing
80 Apollon Wealth Management, LLC 1.70% of their portfolio MOUNT PLEASANT, SC 288,154288.2k $49.1m $49.1m 1.70% Added +53.9k +53,852
81 Zions Bancorporation, N.A. 3.30% of their portfolio SALT LAKE CITY, UT 281,397281.4k $48.0m $48.0m 3.30% Added +189.5k +189,544
82 Brookstone Capital Management 0.90% of their portfolio WHEATON, IL 270,734270.7k $46.1m $46.1m 0.90% Added +13.4k +13,410
83 NewEdge Advisors, LLC 0.43% of their portfolio NEW ORLEANS, LA 264,742264.7k $45.5m $45.5m 0.43% Added +34.9k +34,895
84 D.A. DAVIDSON & CO. 0.44% of their portfolio GREAT FALLS, MT 262,241262.2k $44.7m $44.7m 0.44% Added +374 +374
85 Family Investment Center, Inc. 22.44% of their portfolio Saint Joseph, MO 261,981262.0k $44.6m $44.6m 22.44% Added +2.5k +2,481
86 Klaas Financial Asset Advisors, LLC 9.26% of their portfolio LOVES PARK, IL 260,434260.4k $44.4m $44.4m 9.26% Reduced -855 -855
87 VPR Management LLC 11.38% of their portfolio HOUSTON, TX 257,330257.3k $43.8m $43.8m 11.38% Unchanged
88 Principle Wealth Partners LLC 3.76% of their portfolio MADISON, CT 256,539256.5k $43.7m $43.7m 3.76% Reduced -1.7k -1,734
89 JNBA Financial Advisors 4.94% of their portfolio BLOOMINGTON, MN 254,743254.7k $43.4m $43.4m 4.94% Reduced -8.6k -8,648
90 WMS Partners, LLC 3.17% of their portfolio TOWSON, MD 253,281253.3k $43.2m $43.2m 3.17% Added +18.3k +18,252
91 PLANNING ALTERNATIVES LTD /ADV 7.54% of their portfolio BIRMINGHAM, MI 252,753252.8k $43.1m $43.1m 7.54% Reduced -188 -188
92 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 252,612252.6k $43.0m $43.0m 0.03% Reduced -2.8k -2,750
93 MJP ASSOCIATES INC /ADV 11.47% of their portfolio FARMINGTON, CT 252,566252.6k $43.0m $43.0m 11.47% Reduced -37.3k -37,296
94 Evensky & Katz LLC 3.21% of their portfolio CORAL GABLES, FL 250,776250.8k $42.7m $42.7m 3.21% Added +1.3k +1,271
95 Avantax Planning Partners, Inc. 1.63% of their portfolio DUBUQUE, IA 250,581250.6k $42.7m $42.7m 1.63% Added +27.1k +27,051
96 Pathstone Holdings, LLC 0.23% of their portfolio ENGLEWOOD, NJ 248,108248.1k $42.3m $42.3m 0.23% First filing
97 Baltimore-Washington Financial Advisors, Inc. 2.93% of their portfolio Columbia, MD 248,010248.0k $42.3m $42.3m 2.93% Added +15.5k +15,544
98 FMR LLC 0.00% of their portfolio BOSTON, MA 244,502244.5k $41.7m $41.7m 0.00% Added +19.0k +18,972
99 PDS Planning, Inc 4.70% of their portfolio DUBLIN, OH 242,224242.2k $41.3m $41.3m 4.70% Added +7.3k +7,277
100 Advisory Alpha, LLC 1.87% of their portfolio HOLLAND, MI 240,040240.0k $40.9m $40.9m 1.87% Reduced -2.9k -2,948