Vault-13

VANGUARD SPECIALIZED FUNDS VIG

DIV APP ETF · ETP · CUSIP 921908844

2,293 institutional holders -30 vs Q4 2024
204,397,189204.4m shares reported held*
$39.6bnreported value*
90 new 936 added 872 reduced 102 sold out net bought ≈ $36.6m (+168.1k 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 ($64.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $193.56. Options: 6 managers hold calls ($116.0m notional), 7 hold puts ($25.0m).

Trends to Q1 2025

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: 2,041Q2 24: 2,062Q3 24: 2,108Q4 24: 2,323Q1 25: 2,2932,293Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 20221,649
Q4 20221,796
Q1 20231,785
Q2 20231,800
Q3 20231,830
Q4 20232,026
Q1 20242,041
Q2 20242,062
Q3 20242,108
Q4 20242,323
Q1 20252,293

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ2 23: 644 bought or addedQ2 23: 806 cut or sold outQ3 23: 846 bought or addedQ3 23: 706 cut or sold outQ3 23Q4 23: 899 bought or addedQ4 23: 730 cut or sold outQ1 24: 896 bought or addedQ1 24: 860 cut or sold outQ1 24Q2 24: 788 bought or addedQ2 24: 859 cut or sold outQ3 24: 961 bought or addedQ3 24: 832 cut or sold outQ3 24Q4 24: 1,003 bought or addedQ4 24: 816 cut or sold outQ1 25: 1,026 bought or addedQ1 25: 974 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023644806
Q3 2023846706
Q4 2023899730
Q1 2024896860
Q2 2024788859
Q3 2024961832
Q4 20241,003816
Q1 20251,026974

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ2 24 calls: $81.5mQ2 24 puts: $12.3mQ2 24P/C 0.15Q3 24 calls: $105.8mQ3 24 puts: $68.5mQ3 24P/C 0.65Q4 24 calls: $109.7mQ4 24 puts: $37.5mQ4 24P/C 0.34Q1 25 calls: $116.0mQ1 25 puts: $25.0mQ1 25P/C 0.22
Numbers
QuarterCallsPutsP/C
Q2 2024$81.5m$12.3m0.15
Q3 2024$105.8m$68.5m0.65
Q4 2024$109.7m$37.5m0.34
Q1 2025$116.0m$25.0m0.22

Biggest buyers

PRUDENTIAL FINANCIAL INC Added +2,380,422+2.4m
Wealthfront Advisers LLC Added +738,441+738.4k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +694,758+694.8k
HB Wealth Management, LLC Added +480,314+480.3k
VANGUARD GROUP INC Added +451,169+451.2k
LPL Financial LLC Added +269,131+269.1k
JONES FINANCIAL COMPANIES LLLP Added +235,547+235.5k
Sequoia Financial Advisors, LLC Added +171,665+171.7k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +160,813+160.8k
COMMONWEALTH EQUITY SERVICES, LLC Added +144,010+144.0k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -2,868,467-2.9m
Retirement Planning Group, LLC Reduced -565,540-565.5k
3EDGE Asset Management, LP Sold out -550,500-550.5k
JPMORGAN CHASE & CO Reduced -525,921-525.9k
Focus Partners Wealth Reduced -466,146-466.1k
Independent Advisor Alliance Reduced -395,002-395.0k
PARK AVENUE SECURITIES LLC Sold out -363,179-363.2k
WMS Partners, LLC Sold out -353,195-353.2k
Bank of New York Mellon Corp Reduced -314,264-314.3k
Cerity Partners OCIO LLC Sold out -203,026-203.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $73.0m376.3k shares
CITADEL ADVISORS LLC Added $18.7m96.5k shares
JANE STREET GROUP, LLC Added $10.0m51.3k shares
Twin Tree Management, LP Unchanged $8.4m43.1k shares
Walleye Trading LLC Reduced $4.6m23.9k shares
WOLVERINE TRADING, LLC Added $1.3m7.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $9.6m49.4k shares
CITADEL ADVISORS LLC Reduced $8.2m42.4k shares
WOLVERINE TRADING, LLC Added $5.8m30.4k shares
Quaker Wealth Management, LLC First filing $1.1m5.8k shares
Walleye Trading LLC Reduced $194.0k1.0k shares
UBS Group AG New $19.4k100 shares
US BANCORP \DE\ Unchanged $4.1k272 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.38% of their portfolio CHARLOTTE, NC 21,874,92421.9m $4.2bn $4.2bn 0.38% Reduced -2.9m -2,868,467
2 MORGAN STANLEY 0.17% of their portfolio NEW YORK, NY 12,530,00312.5m $2.4bn $2.4bn 0.17% Added +106.5k +106,549
3 WELLS FARGO & COMPANY/MN 0.50% of their portfolio SAN FRANCISCO, CA 10,618,17410.6m $2.1bn $2.1bn 0.50% Added +97.8k +97,778
4 VANGUARD GROUP INC 0.04% of their portfolio Valley Forge, PA 10,160,43310.2m $2.0bn $2.0bn 0.04% Added +451.2k +451,169
5 Wealthfront Advisers LLC 3.96% of their portfolio Palo Alto, CA 7,603,2737.6m $1.5bn $1.5bn 3.96% Added +738.4k +738,441
6 UBS Group AG 0.28% of their portfolio ZURICH, V8 6,601,9936.6m $1.3bn $1.3bn 0.28% Added +42.6k +42,553
7 LPL Financial LLC 0.47% of their portfolio FORT MILL, SC 6,285,4256.3m $1.2bn $1.2bn 0.47% Added +269.1k +269,131
8 HB Wealth Management, LLC 8.63% of their portfolio Atlanta, GA 5,349,2435.3m $1.0bn $1.0bn 8.63% Added +480.3k +480,314
9 RAYMOND JAMES FINANCIAL INC 0.39% of their portfolio ST. PETERSBURG, FL 5,329,3915.3m $1.0bn $1.0bn 0.39% Added +99.8k +99,758
10 PRUDENTIAL FINANCIAL INC 1.10% of their portfolio NEWARK, NJ 3,985,1064.0m $773.1m $773.1m 1.10% Added +2.4m +2,380,422
11 ROYAL BANK OF CANADA 0.16% of their portfolio TORONTO, A6 3,739,4193.7m $725.4m $725.4m 0.16% Added +42.2k +42,185
12 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 3,180,2653.2m $616.9m $616.9m 0.05% Reduced -525.9k -525,921
13 COMMONWEALTH EQUITY SERVICES, LLC 0.83% of their portfolio WALTHAM, MA 3,021,3853.0m $586.1m $586.1m 0.83% Added +144.0k +144,010
14 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 2,495,9782.5m $485.6m $485.6m 0.13% Added +78.2k +78,241
15 ENVESTNET ASSET MANAGEMENT INC 0.14% of their portfolio Berwyn, PA 2,310,8422.3m $448.3m $448.3m 0.14% Added +34.9k +34,876
16 HighTower Advisors, LLC 0.58% of their portfolio CHICAGO, IL 2,197,8192.2m $426.4m $426.4m 0.58% Added +3.8k +3,771
17 SIGNATUREFD, LLC 7.22% of their portfolio ATLANTA, GA 1,962,9872.0m $380.8m $380.8m 7.22% Added +56.8k +56,760
18 Modera Wealth Management, LLC 3.88% of their portfolio WESTWOOD, NJ 1,477,9511.5m $286.7m $286.7m 3.88% Added +86.0k +86,017
19 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.23% of their portfolio MILWAUKEE, WI 1,447,0411.4m $280.7m $280.7m 0.23% Reduced -59.3k -59,317
20 OSAIC HOLDINGS, INC. 0.63% of their portfolio SCOTTSDALE, AZ 1,446,9541.4m $280.8m $280.8m 0.63% Added +15.9k +15,920
21 Mariner, LLC 0.46% of their portfolio Overland Park, KS 1,427,4871.4m $276.9m $276.9m 0.46% Reduced -2.5k -2,451
22 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.52% of their portfolio PLYMOUTH, MN 1,413,4641.4m $274.2m $274.2m 0.52% Added +160.8k +160,813
23 Joel Isaacson & Co., LLC 10.92% of their portfolio NEW YORK, NY 1,241,6731.2m $240.9m $240.9m 10.92% Added +40.0k +39,988
24 Howard Capital Management, LLC 5.89% of their portfolio Alpharetta, GA 1,208,2521.2m $234.4m $234.4m 5.89% Reduced -73 -73
25 TRUST POINT INC. 20.87% of their portfolio LA CROSSE, WI 1,179,4331.2m $228.8m $228.8m 20.87% Reduced -139.1k -139,075
26 CAPTRUST FINANCIAL ADVISORS 0.57% of their portfolio RALEIGH, NC 1,168,3491.2m $226.6m $226.6m 0.57% Added +132.5k +132,544
27 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 1,138,2491.1m $220.8m $220.8m 0.04% Reduced -314.3k -314,264
28 Creative Planning 0.20% of their portfolio OVERLAND PARK, KS 1,108,1521.1m $215.0m $215.0m 0.20% Added +4.8k +4,790
29 JONES FINANCIAL COMPANIES LLLP 0.19% of their portfolio DES PERES, MO 1,096,1981.1m $210.4m $210.4m 0.19% Added +235.5k +235,547
30 STIFEL FINANCIAL CORP 0.22% of their portfolio ST. LOUIS, MO 1,057,3411.1m $205.1m $205.1m 0.22% Added +18.5k +18,516
31 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.18% of their portfolio Toronto, A6 975,758975.8k $189.3m $189.3m 0.18% Added +19.3k +19,279
32 ASPIRIANT, LLC 6.43% of their portfolio San Francisco, CA 954,913954.9k $185.2m $185.2m 6.43% Added +3.5k +3,483
33 MAI Capital Management 1.37% of their portfolio INDEPENDENCE, OH 931,754931.8k $180.8m $180.8m 1.37% Added +2.5k +2,535
34 Cambridge Investment Research Advisors, Inc. 0.59% of their portfolio FAIRFIELD, IA 900,389900.4k $174.7m $174.7m 0.59% Added +2.5k +2,505
35 TRUIST FINANCIAL CORP 0.28% of their portfolio CHARLOTTE, NC 899,372899.4k $174.5m $174.5m 0.28% Reduced -24.3k -24,258
36 Waverly Advisors, LLC 2.11% of their portfolio BIRMINGHAM, AL 891,032891.0k $172.9m $172.9m 2.11% Added +50.9k +50,908
37 Cetera Investment Advisers 0.33% of their portfolio SCHAUMBURG, IL 869,891869.9k $168.8m $168.8m 0.33% Added +22.1k +22,074
38 Corient Private Wealth LP 0.27% of their portfolio MIAMI, FL 863,372863.4k $167.5m $167.5m 0.27% Reduced -77.3k -77,252
39 BANK OF MONTREAL /CAN/ 0.09% of their portfolio TORONTO, A6 823,026823.0k $159.7m $159.7m 0.09% Reduced -2.0k -1,965
40 BROWN ADVISORY INC 0.22% of their portfolio BALTIMORE, MD 792,142792.1k $153.7m $153.7m 0.22% Reduced -56.2k -56,186
41 Nicholas Hoffman & Company, LLC. 5.48% of their portfolio ATLANTA, GA 742,806742.8k $144.1m $144.1m 5.48% Reduced -61.5k -61,482
42 Rockefeller Capital Management L.P. 0.35% of their portfolio NEW YORK, NY 735,957736.0k $142.8m $142.8m 0.35% Added +37.7k +37,685
43 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 723,499723.5k $140.4m $140.4m 0.03% Reduced -37.4k -37,421
44 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.03% of their portfolio NEW YORK, NY 694,758694.8k $134.8m $134.8m 0.03% New
45 Cresset Asset Management, LLC 0.66% of their portfolio Chicago, IL 673,352673.4k $130.6m $130.6m 0.66% Added +41.9k +41,869
46 Robertson Stephens Wealth Management, LLC 4.83% of their portfolio San Francisco, CA 664,918664.9k $129.0m $129.0m 4.83% Added +77.6k +77,592
47 Confluence Wealth Services, Inc. 7.73% of their portfolio MCMURRAY, PA 660,392660.4k $122.7m $122.7m 7.73% Added +61.1k +61,141
48 BLAIR WILLIAM & CO/IL 0.38% of their portfolio CHICAGO, IL 641,881641.9k $124.5m $124.5m 0.38% Reduced -9.0k -9,044
49 Northeast Financial Consultants Inc 5.50% of their portfolio WESTPORT, CT 638,946638.9k $123.9m $123.9m 5.50% Reduced -31.1k -31,131
50 Cerity Partners LLC 0.25% of their portfolio NEW YORK, NY 631,052631.1k $122.4m $122.4m 0.25% Reduced -7.8k -7,825
51 DAVENPORT & Co LLC 0.71% of their portfolio RICHMOND, VA 617,400617.4k $119.8m $119.8m 0.71% Added +31.7k +31,657
52 Baird Financial Group, Inc. 0.23% of their portfolio MILWAUKEE, WI 609,741609.7k $118.3m $118.3m 0.23% Reduced -49.2k -49,191
53 GLENMEDE TRUST CO NA 0.63% of their portfolio PHILADELPHIA, PA 608,238608.2k $118.0m $118.0m 0.63% Added +5.5k +5,467
54 Private Advisor Group, LLC 0.71% of their portfolio MORRISTOWN, NJ 603,855603.9k $117.1m $117.1m 0.71% Added +7.7k +7,704
55 Focus Partners Wealth 0.29% of their portfolio ST LOUIS, MO 594,936594.9k $115.4m $115.4m 0.29% Reduced -466.1k -466,146
56 MML INVESTORS SERVICES, LLC 0.36% of their portfolio SPRINGFIELD, MA 564,731564.7k $109.6m $109.6m 0.36% Added +2.0k +1,974
57 Janney Montgomery Scott LLC 0.30% of their portfolio PHILADELPHIA, PA 542,274542.3k $105.2m $105.2m 0.30% Added +12.2k +12,173
58 FIFTH THIRD BANCORP 0.39% of their portfolio CINCINNATI, OH 534,881534.9k $103.8m $103.8m 0.39% Reduced -21.3k -21,296
59 Sanctuary Advisors, LLC 0.68% of their portfolio INDIANAPOLIS, IN 495,280495.3k $96.1m $96.1m 0.68% Added +44.9k +44,933
60 Stokes Family Office, LLC 10.74% of their portfolio NEW ORLEANS, LA 492,287492.3k $95.5m $95.5m 10.74% Reduced -13.3k -13,291
61 TD PRIVATE CLIENT WEALTH LLC 2.44% of their portfolio NEW YORK, NY 455,868455.9k $88.4m $88.4m 2.44% Added +9.8k +9,831
62 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 451,805451.8k $87.6m $87.6m 0.03% Added +5.1k +5,102
63 MERCER GLOBAL ADVISORS INC /ADV 0.20% of their portfolio DENVER, CO 446,466446.5k $86.6m $86.6m 0.20% Reduced -18.8k -18,761
64 Haverford Trust Co 0.80% of their portfolio Radnor, PA 410,638410.6k $79.7m $79.7m 0.80% Added +11.8k +11,767
65 &PARTNERS 0.83% of their portfolio NASHVILLE, TN 407,572407.6k $78.4m $78.4m 0.83% Added +107.2k +107,227
66 Steward Partners Investment Advisory, LLC 0.70% of their portfolio STAMFORD, CT 405,443405.4k $78.7m $78.7m 0.70% Added +11.0k +11,032
67 Kestra Advisory Services, LLC 0.37% of their portfolio AUSTIN, TX 395,984396.0k $76.8m $76.8m 0.37% Reduced -11.5k -11,504
68 FMR LLC 0.00% of their portfolio BOSTON, MA 383,520383.5k $74.4m $74.4m 0.00% Added +23.3k +23,336
69 Enclave Advisors LLC 12.24% of their portfolio AUSTIN, TX 369,568369.6k $71.7m $71.7m 12.24% Reduced -38.4k -38,355
70 Systematic Alpha Investments, LLC 2.62% of their portfolio PRINCETON, NJ 353,000353.0k $68.5m $68.5m 2.62% Unchanged
71 Hubbell Strickland Wealth Management, LLC 32.18% of their portfolio NEW ORLEANS, LA 350,443350.4k $68.0m $68.0m 32.18% Reduced -2.0k -1,996
72 IEQ CAPITAL, LLC 0.53% of their portfolio Foster City, CA 346,687346.7k $67.3m $67.3m 0.53% Added +41.0k +41,001
73 Demars Financial Group, LLC 0.05% of their portfolio SPOKANE VALLEY, WA 345,244345.2k $1.8k $1.8k 0.05% Reduced -7.5k -7,538
74 Atria Wealth Solutions, Inc. 0.80% of their portfolio NEW YORK, NY 340,714340.7k $66.1m $66.1m 0.80% Reduced -13.4k -13,363
75 CW Advisors, LLC 0.78% of their portfolio BOSTON, MA 335,492335.5k $65.1m $65.1m 0.78% Added +5.4k +5,353
76 Paragon Capital Management Ltd 13.21% of their portfolio DENVER, CO 332,409332.4k $64.5m $64.5m 13.21% Reduced -2.6k -2,637
77 Provenance Wealth Advisors, LLC 8.99% of their portfolio FORT LAUDERDALE, FL 322,371322.4k $62.5m $62.5m 8.99% Reduced -4.3k -4,296
78 Performance Wealth Partners, LLC 2.23% of their portfolio HINSDALE, IL 321,231321.2k $62.3m $62.3m 2.23% Added +10.6k +10,588
79 360 Financial, Inc. 22.46% of their portfolio WAYZATA, MN 319,930319.9k $62.1m $62.1m 22.46% Added +14.4k +14,441
80 NewEdge Advisors, LLC 0.37% of their portfolio NEW ORLEANS, LA 317,146317.1k $61.5m $61.5m 0.37% Reduced -2.8k -2,810
81 Brookstone Capital Management 0.86% of their portfolio WHEATON, IL 309,075309.1k $60.0m $60.0m 0.86% Reduced -27.5k -27,534
82 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 308,018308.0k $59.8m $59.8m 0.03% Added +16.4k +16,442
83 Baltimore-Washington Financial Advisors, Inc. 3.01% of their portfolio Columbia, MD 292,777292.8k $56.8m $56.8m 3.01% Added +2.9k +2,907
84 Berkshire Money Management, Inc. 6.17% of their portfolio DALTON, MA 283,545283.5k $55.0m $55.0m 6.17% Reduced -29.6k -29,607
85 Beacon Pointe Advisors, LLC 0.61% of their portfolio NEWPORT BEACH, CA 279,477279.5k $54.2m $54.2m 0.61% Added +2.7k +2,688
86 Advisor OS, LLC 6.08% of their portfolio CHICAGO, IL 275,467275.5k $53.4m $53.4m 6.08% Reduced -2.6k -2,604
87 PDS Planning, Inc 4.38% of their portfolio DUBLIN, OH 267,756267.8k $51.9m $51.9m 4.38% Added +4.8k +4,759
88 MJP ASSOCIATES INC /ADV 9.32% of their portfolio FARMINGTON, CT 266,297266.3k $51.7m $51.7m 9.32% Added +2.8k +2,814
89 PLANNING ALTERNATIVES LTD /ADV 7.90% of their portfolio BIRMINGHAM, MI 265,727265.7k $51.5m $51.5m 7.90% Added +10.5k +10,470
90 Resonant Capital Advisors, LLC 3.52% of their portfolio Madison, WI 260,256260.3k $50.5m $50.5m 3.52% Added +7.4k +7,422
91 Evensky & Katz LLC 3.35% of their portfolio CORAL GABLES, FL 257,343257.3k $49.9m $49.9m 3.35% Reduced -589 -589
92 GLOBALT Investments LLC / GA 2.04% of their portfolio Atlanta, GA 256,877256.9k $49.8m $49.8m 2.04% Reduced -9.9k -9,870
93 Equitable Holdings, Inc. 0.45% of their portfolio NEW YORK, NY 244,533244.5k $47.4m $47.4m 0.45% Added +14.7k +14,655
94 Principle Wealth Partners LLC 3.37% of their portfolio MADISON, CT 242,690242.7k $47.1m $47.1m 3.37% Reduced -7.2k -7,227
95 Wealth Architects, LLC 5.09% of their portfolio MOUNTAIN VIEW, CA 237,757237.8k $46.1m $46.1m 5.09% Reduced -8.2k -8,197
96 US BANCORP \DE\ 0.06% of their portfolio MINNEAPOLIS, MN 236,079236.1k $45.8m $45.8m 0.06% Added +4.8k +4,826
97 RATIONAL ADVISORS, INC. 4.59% of their portfolio San Juan, PR 234,703234.7k $45.5m $45.5m 4.59% Added +2.2k +2,238
98 Buska Wealth Management, LLC 14.09% of their portfolio WAUSAU, WI 231,757231.8k $45.0m $45.0m 14.09% Added +4.9k +4,908
99 Pathstone Holdings, LLC 0.19% of their portfolio ENGLEWOOD, NJ 230,157230.2k $44.6m $44.6m 0.19% Added +6.8k +6,815
100 New England Private Wealth Advisors LLC 6.84% of their portfolio WELLESLEY, MA 228,126228.1k $44.3m $44.3m 6.84% Reduced -5.6k -5,574