Vault-13

VANGUARD SPECIALIZED FUNDS VIG

DIV APP ETF · ETP · CUSIP 921908844

2,041 institutional holders +15 vs Q4 2023
215,154,753215.2m shares reported held*
$39.3bnreported value*
104 new 792 added 762 reduced 98 sold out net bought ≈ $1.5bn (+8.2m 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 ($75.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $182.52. Options: 6 managers hold calls ($116.1m notional), 7 hold puts ($49.6m).

Trends to Q1 2024

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: 2,026Q1 24: 2,0412,041Q3 22Q1 23Q3 23Q1 24
Numbers
QuarterHolders
Q3 20221,649
Q4 20221,796
Q1 20231,785
Q2 20231,800
Q3 20231,830
Q4 20232,026
Q1 20242,041

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 23Q1 24: 896 bought or addedQ1 24: 860 cut or sold outQ1 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022792654
Q1 2023764779
Q2 2023644806
Q3 2023846706
Q4 2023899730
Q1 2024896860

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ2 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 0.31Q1 24 calls: $116.1mQ1 24 puts: $49.6mQ1 24P/C 0.43
Numbers
QuarterCallsPutsP/C
Q2 2023$99.0m$27.4m0.28
Q3 2023$54.3m$26.8m0.49
Q4 2023$46.0m$14.3m0.31
Q1 2024$116.1m$49.6m0.43

Biggest buyers

MORGAN STANLEY Added +12,102,369+12.1m
RAYMOND JAMES & ASSOCIATES Added +1,309,672+1.3m
Cetera Investment Advisers Added +679,010+679.0k
HB Wealth Management, LLC Added +612,202+612.2k
JPMORGAN CHASE & CO Added +566,600+566.6k
VANGUARD GROUP INC Added +466,457+466.5k
Annex Advisory Services, LLC Added +398,116+398.1k
Wealthfront Advisers LLC Added +348,752+348.8k
Waverly Advisors, LLC Added +211,811+211.8k
EVOKE WEALTH, LLC Added +172,642+172.6k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -5,004,469-5.0m
TRUIST FINANCIAL CORP Reduced -544,485-544.5k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -530,793-530.8k
Cetera Advisor Networks LLC Sold out -428,047-428.0k
Apollon Wealth Management, LLC Reduced -223,733-223.7k
Cetera Advisors LLC Sold out -215,053-215.1k
AMERIPRISE FINANCIAL INC Reduced -202,047-202.0k
Zions Bancorporation, N.A. Reduced -195,127-195.1k
OAK HILL WEALTH ADVISORS, LLC Sold out -195,057-195.1k
Arlington Partners LLC Sold out -188,496-188.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $57.5m314.8k shares
Twin Tree Management, LP New $30.6m167.5k shares
CITADEL ADVISORS LLC Added $25.6m140.2k shares
WOLVERINE TRADING, LLC New $2.0m10.8k shares
Belvedere Trading LLC New $255.7k1.4k shares
Cutler Group LLC / CA Reduced $179.0k17.3k shares

Biggest puts

OAK HILL WEALTH ADVISORS, LLC New $36.0m197.2k shares
WOLVERINE TRADING, LLC New $5.2m28.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.4m24.3k shares
CITADEL ADVISORS LLC Added $2.4m13.3k shares
BANK OF AMERICA CORP /DE/ Unchanged $967.8k5.3k shares
Curated Wealth Partners LLC New $544.3k3.0k shares
Cutler Group LLC / CA Reduced $01.1k 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, Q1 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.17% of their portfolio NEW YORK, NY 35,369,28935.4m $6.5bn $6.5bn 0.17% Added +12.1m +12,102,369
2 BANK OF AMERICA CORP /DE/ 0.39% of their portfolio CHARLOTTE, NC 21,483,14321.5m $3.9bn $3.9bn 0.39% Reduced -5.0m -5,004,469
3 WELLS FARGO & COMPANY/MN 0.51% of their portfolio SAN FRANCISCO, CA 10,561,20110.6m $1.9bn $1.9bn 0.51% Reduced -87.2k -87,171
4 VANGUARD GROUP INC 0.03% of their portfolio Valley Forge, PA 8,635,3178.6m $1.6bn $1.6bn 0.03% Added +466.5k +466,457
5 Wealthfront Advisers LLC 4.44% of their portfolio Palo Alto, CA 6,943,4796.9m $1.3bn $1.3bn 4.44% Added +348.8k +348,752
6 UBS Group AG 0.39% of their portfolio ZURICH, V8 6,430,3546.4m $1.2bn $1.2bn 0.39% Reduced -16.1k -16,140
7 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 6,307,9546.3m $1.2bn $1.2bn 0.05% Added +566.6k +566,600
8 LPL Financial LLC 0.52% of their portfolio FORT MILL, SC 5,315,1665.3m $970.6m $970.6m 0.52% Added +17.4k +17,402
9 HB Wealth Management, LLC 10.25% of their portfolio Atlanta, GA 4,459,2304.5m $814.3m $814.3m 10.25% Added +612.2k +612,202
10 ROYAL BANK OF CANADA 0.17% of their portfolio TORONTO, A6 3,739,0243.7m $682.8m $682.8m 0.17% Reduced -58.3k -58,303
11 RAYMOND JAMES & ASSOCIATES 0.44% of their portfolio ST PETERSBURG, FL 3,537,6993.5m $646.0m $646.0m 0.44% Added +1.3m +1,309,672
12 COMMONWEALTH EQUITY SERVICES, LLC 0.85% of their portfolio WALTHAM, MA 2,807,3502.8m $512.6m $512.6m 0.85% Added +65.4k +65,381
13 AMERIPRISE FINANCIAL INC 0.12% of their portfolio MINNEAPOLIS, MN 2,408,8672.4m $440.3m $440.3m 0.12% Reduced -202.0k -202,047
14 HighTower Advisors, LLC 0.64% of their portfolio CHICAGO, IL 2,169,3762.2m $396.1m $396.1m 0.64% Added +32.1k +32,125
15 Bank of New York Mellon Corp 0.07% of their portfolio NEW YORK, NY 1,954,1262.0m $356.8m $356.8m 0.07% Reduced -154.1k -154,102
16 Raymond James Financial Services Advisors, Inc. 0.53% of their portfolio ST. PETERSBURG, FL 1,943,6971.9m $354.9m $354.9m 0.53% Reduced -48.3k -48,344
17 ENVESTNET ASSET MANAGEMENT INC 0.13% of their portfolio Berwyn, PA 1,936,8981.9m $353.7m $353.7m 0.13% Added +33.4k +33,448
18 SIGNATUREFD, LLC 7.23% of their portfolio ATLANTA, GA 1,875,6381.9m $342.5m $342.5m 7.23% Added +17.8k +17,751
19 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.29% of their portfolio MILWAUKEE, WI 1,543,4481.5m $281.8m $281.8m 0.29% Added +20.7k +20,684
20 OSAIC HOLDINGS, INC. 0.58% of their portfolio SCOTTSDALE, AZ 1,430,9511.4m $261.4m $261.4m 0.58% Added +74.8k +74,838
21 TRUST POINT INC. 18.42% of their portfolio LA CROSSE, WI 1,283,6441.3m $234.4m $234.4m 18.42% Reduced -26.8k -26,810
22 Modera Wealth Management, LLC 3.53% of their portfolio WESTWOOD, NJ 1,270,3011.3m $232.0m $232.0m 3.53% Added +78.0k +78,031
23 Mariner, LLC 0.47% of their portfolio Overland Park, KS 1,252,6681.3m $228.7m $228.7m 0.47% Reduced -59.6k -59,594
24 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.20% of their portfolio Toronto, A6 1,190,7641.2m $217.4m $217.4m 0.20% Reduced -27.9k -27,947
25 Joel Isaacson & Co., LLC 11.02% of their portfolio NEW YORK, NY 1,101,2411.1m $201.1m $201.1m 11.02% Added +37.4k +37,384
26 TRUIST FINANCIAL CORP 0.28% of their portfolio CHARLOTTE, NC 1,025,6681.0m $187.3m $187.3m 0.28% Reduced -544.5k -544,485
27 CAPTRUST FINANCIAL ADVISORS 0.67% of their portfolio RALEIGH, NC 1,005,3171.0m $183.6m $183.6m 0.67% Reduced -46.4k -46,447
28 STIFEL FINANCIAL CORP 0.21% of their portfolio ST. LOUIS, MO 1,004,8371.0m $183.5m $183.5m 0.21% Reduced -22.6k -22,649
29 Creative Planning 0.20% of their portfolio OVERLAND PARK, KS 982,964983.0k $179.5m $179.5m 0.20% Reduced -64.6k -64,639
30 ASPIRIANT, LLC 7.28% of their portfolio San Francisco, CA 962,404962.4k $175.8m $175.8m 7.28% Reduced -10.6k -10,604
31 Corient Private Wealth LP 0.30% of their portfolio MIAMI, FL 936,985937.0k $171.1m $171.1m 0.30% Reduced -91.3k -91,251
32 Annex Advisory Services, LLC 5.83% of their portfolio BROOKFIELD, WI 898,754898.8k $164.1m $164.1m 5.83% Added +398.1k +398,116
33 BANK OF MONTREAL /CAN/ 0.05% of their portfolio TORONTO, A6 885,227885.2k $161.4m $161.4m 0.05% Reduced -12.7k -12,710
34 BROWN ADVISORY INC 0.21% of their portfolio BALTIMORE, MD 879,038879.0k $160.5m $160.5m 0.21% Added +12.9k +12,863
35 MAI Capital Management 1.65% of their portfolio INDEPENDENCE, OH 866,506866.5k $158.2m $158.2m 1.65% Added +127.2k +127,236
36 Cambridge Investment Research Advisors, Inc. 0.58% of their portfolio FAIRFIELD, IA 830,337830.3k $151.6m $151.6m 0.58% Reduced -32.3k -32,260
37 Cetera Investment Advisers 0.35% of their portfolio SCHAUMBURG, IL 813,293813.3k $148.5m $148.5m 0.35% Added +679.0k +679,010
38 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.38% of their portfolio PLYMOUTH, MN 811,425811.4k $148.2m $148.2m 0.38% Added +14.9k +14,899
39 LINCOLN NATIONAL CORP 2.20% of their portfolio RADNOR, PA 773,325773.3k $141.2m $141.2m 2.20% Added +15.7k +15,743
40 Waverly Advisors, LLC 3.31% of their portfolio BIRMINGHAM, AL 770,803770.8k $140.8m $140.8m 3.31% Added +211.8k +211,811
41 Nicholas Hoffman & Company, LLC. 6.79% of their portfolio ATLANTA, GA 732,370732.4k $133.7m $133.7m 6.79% Added +9.3k +9,300
42 Rockefeller Capital Management L.P. 0.38% of their portfolio NEW YORK, NY 714,115714.1k $130.4m $130.4m 0.38% Added +105.8k +105,763
43 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 703,742703.7k $128.5m $128.5m 0.03% Added +31.8k +31,803
44 BLAIR WILLIAM & CO/IL 0.39% of their portfolio CHICAGO, IL 674,069674.1k $123.1m $123.1m 0.39% Reduced -23.4k -23,411
45 Retirement Planning Group, LLC 9.33% of their portfolio LEAWOOD, KS 666,701666.7k $121.7m $121.7m 9.33% Reduced -4.7k -4,747
46 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio SAN FRANCISCO, CA 656,940656.9k $120.0m $120.0m 0.03% Reduced -530.8k -530,793
47 Northeast Financial Consultants Inc 5.87% of their portfolio WESTPORT, CT 655,223655.2k $119.7m $119.7m 5.87% Added +35.1k +35,054
48 Focus Partners Wealth 0.97% of their portfolio ST LOUIS, MO 651,818651.8k $119.0m $119.0m 0.97% Reduced -29.5k -29,546
49 GLENMEDE TRUST CO NA 0.59% of their portfolio PHILADELPHIA, PA 642,377642.4k $117.3m $117.3m 0.59% Added +174 +174
50 FIFTH THIRD BANCORP 0.44% of their portfolio CINCINNATI, OH 618,218618.2k $112.9m $112.9m 0.44% Reduced -23.6k -23,578
51 Baird Financial Group, Inc. 0.23% of their portfolio MILWAUKEE, WI 600,574600.6k $109.7m $109.7m 0.23% Reduced -20.9k -20,883
52 Private Advisor Group, LLC 0.73% of their portfolio MORRISTOWN, NJ 556,294556.3k $101.6m $101.6m 0.73% Added +6.7k +6,695
53 Cerity Partners LLC 0.26% of their portfolio NEW YORK, NY 547,080547.1k $99.5m $99.5m 0.26% Added +686 +686
54 Performance Wealth Partners, LLC 4.17% of their portfolio HINSDALE, IL 543,708543.7k $99.3m $99.3m 4.17% Reduced -8.0k -7,993
55 Stokes Family Office, LLC 12.19% of their portfolio NEW ORLEANS, LA 534,328534.3k $97.6m $97.6m 12.19% Reduced -1.1k -1,143
56 Janney Montgomery Scott LLC 0.29% of their portfolio PHILADELPHIA, PA 533,479533.5k $97.4m $97.4m 0.29% Added +27.8k +27,772
57 MML INVESTORS SERVICES, LLC 0.38% of their portfolio SPRINGFIELD, MA 510,664510.7k $93.3m $93.3m 0.38% Added +12.6k +12,576
58 DAVENPORT & Co LLC 0.57% of their portfolio RICHMOND, VA 504,476504.5k $92.1m $92.1m 0.57% Reduced -18.1k -18,059
59 Cresset Asset Management, LLC 0.44% of their portfolio Chicago, IL 500,256500.3k $91.4m $91.4m 0.44% Added +4.2k +4,225
60 Confluence Wealth Services, Inc. 7.65% of their portfolio MCMURRAY, PA 474,402474.4k $86.6m $86.6m 7.65% Added +75.4k +75,407
61 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 439,201439.2k $80.2m $80.2m 0.03% Reduced -8.5k -8,462
62 JONES FINANCIAL COMPANIES LLLP 0.11% of their portfolio DES PERES, MO 430,595430.6k $78.6m $78.6m 0.11% Added +39.7k +39,672
63 Atria Wealth Solutions, Inc. 0.86% of their portfolio NEW YORK, NY 418,131418.1k $76.4m $76.4m 0.86% Added +29.4k +29,388
64 MERCER GLOBAL ADVISORS INC /ADV 0.22% of their portfolio DENVER, CO 413,646413.6k $75.7m $75.7m 0.22% Added +54.8k +54,794
65 TD PRIVATE CLIENT WEALTH LLC 2.36% of their portfolio NEW YORK, NY 393,919393.9k $71.9m $71.9m 2.36% Added +25.6k +25,599
66 Kestra Advisory Services, LLC 0.44% of their portfolio AUSTIN, TX 360,988361.0k $65.9m $65.9m 0.44% Added +19.4k +19,448
67 Hubbell Strickland Wealth Management, LLC 33.01% of their portfolio NEW ORLEANS, LA 357,368357.4k $65.3m $65.3m 33.01% Reduced -634 -634
68 Systematic Alpha Investments, LLC 2.58% of their portfolio PRINCETON, NJ 353,000353.0k $64.5m $64.5m 2.58% Unchanged
69 Paragon Capital Management Ltd 11.18% of their portfolio DENVER, CO 345,927345.9k $63.2m $63.2m 11.18% Reduced -674 -674
70 Haverford Trust Co 0.64% of their portfolio Radnor, PA 336,364336.4k $61.4m $61.4m 0.64% Added +20.2k +20,187
71 Provenance Wealth Advisors, LLC 8.51% of their portfolio FORT LAUDERDALE, FL 331,496331.5k $60.5m $60.5m 8.51% Reduced -9.6k -9,561
72 PARK AVENUE SECURITIES LLC 0.76% of their portfolio NEW YORK, NY 323,913323.9k $59.1m $59.1m 0.76% Reduced -67.9k -67,854
73 RATIONAL ADVISORS, INC. 5.42% of their portfolio San Juan, PR 320,269320.3k $58.5m $58.5m 5.42% Reduced -36.9k -36,935
74 360 Financial, Inc. 22.43% of their portfolio WAYZATA, MN 315,908315.9k $57.7m $57.7m 22.43% Added +12.7k +12,668
75 Berkshire Money Management, Inc. 6.77% of their portfolio DALTON, MA 307,039307.0k $56.1m $56.1m 6.77% Reduced -5.2k -5,151
76 Brookstone Capital Management 1.00% of their portfolio WHEATON, IL 304,989305.0k $55.7m $55.7m 1.00% Added +34.3k +34,255
77 IEQ CAPITAL, LLC 0.79% of their portfolio Foster City, CA 302,440302.4k $55.2m $55.2m 0.79% Reduced -2.7k -2,705
78 Beacon Pointe Advisors, LLC 0.59% of their portfolio NEWPORT BEACH, CA 292,308292.3k $53.4m $53.4m 0.59% Reduced -4.6k -4,576
79 GLOBALT Investments LLC / GA 2.10% of their portfolio Atlanta, GA 288,844288.8k $52.7m $52.7m 2.10% Reduced -4.0k -4,016
80 Steward Partners Investment Advisory, LLC 0.58% of their portfolio STAMFORD, CT 288,716288.7k $52.7m $52.7m 0.58% Added +63.7k +63,736
81 FMR LLC 0.00% of their portfolio BOSTON, MA 277,655277.7k $50.7m $50.7m 0.00% Added +33.2k +33,153
82 WMS Partners, LLC 3.47% of their portfolio TOWSON, MD 276,883276.9k $50.6m $50.6m 3.47% Added +23.6k +23,602
83 Advisor OS, LLC 5.68% of their portfolio CHICAGO, IL 270,728270.7k $49.4m $49.4m 5.68% Reduced -35.3k -35,309
84 Baltimore-Washington Financial Advisors, Inc. 3.00% of their portfolio Columbia, MD 264,037264.0k $48.2m $48.2m 3.00% Added +16.0k +16,027
85 Klaas Financial Asset Advisors, LLC 9.49% of their portfolio LOVES PARK, IL 260,510260.5k $47.6m $47.6m 9.49% Added +76 +76
86 Principle Wealth Partners LLC 3.67% of their portfolio MADISON, CT 257,438257.4k $47.0m $47.0m 3.67% Added +899 +899
87 D.A. DAVIDSON & CO. 0.42% of their portfolio GREAT FALLS, MT 253,164253.2k $46.2m $46.2m 0.42% Reduced -9.1k -9,077
88 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 253,140253.1k $46.2m $46.2m 0.03% Added +528 +528
89 PLANNING ALTERNATIVES LTD /ADV 7.57% of their portfolio BIRMINGHAM, MI 252,261252.3k $46.1m $46.1m 7.57% Reduced -492 -492
90 Evensky & Katz LLC 3.25% of their portfolio CORAL GABLES, FL 252,259252.3k $46.1m $46.1m 3.25% Added +1.5k +1,483
91 NewEdge Advisors, LLC 0.40% of their portfolio NEW ORLEANS, LA 250,232250.2k $45.7m $45.7m 0.40% Reduced -14.5k -14,510
92 MJP ASSOCIATES INC /ADV 9.93% of their portfolio FARMINGTON, CT 249,931249.9k $45.6m $45.6m 9.93% Reduced -2.6k -2,635
93 Pathstone Holdings, LLC 0.21% of their portfolio ENGLEWOOD, NJ 244,239244.2k $44.6m $44.6m 0.21% Reduced -3.9k -3,869
94 PDS Planning, Inc 4.68% of their portfolio DUBLIN, OH 244,140244.1k $44.6m $44.6m 4.68% Added +1.9k +1,916
95 Levy Wealth Management Group, LLC 11.20% of their portfolio PHILADELPHIA, PA 234,290234.3k $39.9m $39.9m 11.20% Unchanged
96 New England Private Wealth Advisors LLC 7.45% of their portfolio WELLESLEY, MA 232,689232.7k $42.4m $42.4m 7.45% Reduced -1.9k -1,912
97 Resonant Capital Advisors, LLC 3.63% of their portfolio Madison, WI 232,227232.2k $42.4m $42.4m 3.63% Added +6.1k +6,054
98 Wealth Architects, LLC 5.57% of their portfolio MOUNTAIN VIEW, CA 231,295231.3k $42.2m $42.2m 5.57% Reduced -4.6k -4,591
99 Avantax Planning Partners, Inc. 1.33% of their portfolio DUBUQUE, IA 224,233224.2k $40.9m $40.9m 1.33% Reduced -26.3k -26,348
100 Advisory Alpha, LLC 1.68% of their portfolio HOLLAND, MI 223,850223.8k $40.9m $40.9m 1.68% Reduced -16.2k -16,190