Vault-13

VANGUARD STAR FDS VXUS

VG TL INTL STK F · ETP · CUSIP 921909768

1,467 institutional holders +60 vs Q2 2025
356,000,944356.0m shares reported held*
$25.9bnreported value*
130 new 703 added 392 reduced 60 sold out net bought ≈ $68.4m (+1.1m 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 ($62.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $72.84. Options: 4 managers hold calls ($7.6m notional), 3 hold puts ($9.4m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 831Q4 22: 921Q1 23: 948Q2 23: 973Q3 23: 985Q4 23: 1,112Q1 24: 1,138Q2 24: 1,158Q3 24: 1,188Q4 24: 1,302Q1 25: 1,352Q2 25: 1,407Q3 25: 1,4671,467Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022831
Q4 2022921
Q1 2023948
Q2 2023973
Q3 2023985
Q4 20231,112
Q1 20241,138
Q2 20241,158
Q3 20241,188
Q4 20241,302
Q1 20251,352
Q2 20251,407
Q3 20251,467

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 23: 570 bought or addedQ4 23: 367 cut or sold outQ1 24: 642 bought or addedQ1 24: 391 cut or sold outQ1 24Q2 24: 615 bought or addedQ2 24: 424 cut or sold outQ3 24: 612 bought or addedQ3 24: 435 cut or sold outQ3 24Q4 24: 678 bought or addedQ4 24: 399 cut or sold outQ1 25: 715 bought or addedQ1 25: 504 cut or sold outQ1 25Q2 25: 785 bought or addedQ2 25: 484 cut or sold outQ3 25: 833 bought or addedQ3 25: 452 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023570367
Q1 2024642391
Q2 2024615424
Q3 2024612435
Q4 2024678399
Q1 2025715504
Q2 2025785484
Q3 2025833452

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ4 24 calls: $3.3mQ4 24 puts: $4.7mQ4 24P/C 1.43Q1 25 calls: $8.0mQ1 25 puts: $8.0mQ1 25P/C 1.00Q2 25 calls: $7.2mQ2 25 puts: $11.5mQ2 25P/C 1.60Q3 25 calls: $7.6mQ3 25 puts: $9.4mQ3 25P/C 1.23
Numbers
QuarterCallsPutsP/C
Q4 2024$3.3m$4.7m1.43
Q1 2025$8.0m$8.0m1.00
Q2 2025$7.2m$11.5m1.60
Q3 2025$7.6m$9.4m1.23

Biggest buyers

JANE STREET GROUP, LLC Added +5,286,387+5.3m
BANK OF AMERICA CORP /DE/ Added +2,841,876+2.8m
VANGUARD GROUP INC Added +2,780,967+2.8m
HighTower Advisors, LLC Added +1,432,968+1.4m
HB Wealth Management, LLC Added +790,874+790.9k
LPL Financial LLC Added +615,405+615.4k
Wealthspire Advisors, LLC Added +593,518+593.5k
AMERIPRISE FINANCIAL INC Added +564,715+564.7k
Sanctuary Advisors, LLC Added +509,841+509.8k
MORGAN STANLEY Added +485,188+485.2k

Biggest sellers

Corient Private Wealth LP Reduced -11,643,831-11.6m
ROYAL BANK OF CANADA Reduced -4,239,042-4.2m
JPMORGAN CHASE & CO Reduced -2,979,288-3.0m
Vestmark Advisory Solutions, Inc. Reduced -1,535,065-1.5m
Angeles Investment Advisors, LLC Reduced -840,445-840.4k
ENVESTNET ASSET MANAGEMENT INC Reduced -337,400-337.4k
PRUDENTIAL PLC Reduced -314,000-314.0k
Tenon Financial LLC Reduced -309,816-309.8k
Mosaic Advisors LLC Reduced -283,067-283.1k
BNP PARIBAS FINANCIAL MARKETS Reduced -222,720-222.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $5.6m76.1k shares
CITADEL ADVISORS LLC Reduced $1.3m17.6k shares
JANE STREET GROUP, LLC Reduced $455.5k6.2k shares
WOLVERINE TRADING, LLC New $277.9k3.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.9m66.8k shares
CITADEL ADVISORS LLC Added $4.1m55.9k shares
WOLVERINE TRADING, LLC New $373.0k5.1k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.09% of their portfolio Valley Forge, PA 84,434,74384.4m $6.2bn $6.2bn 0.09% Added +2.8m +2,780,967
2 BANK OF AMERICA CORP /DE/ 0.11% of their portfolio CHARLOTTE, NC 19,473,05919.5m $1.4bn $1.4bn 0.11% Added +2.8m +2,841,876
3 Rakuten Investment Management, Inc. 3.92% of their portfolio TOKYO, M0 15,070,90015.1m $1.1bn $1.1bn 3.92% First filing
4 ENVESTNET ASSET MANAGEMENT INC 0.26% of their portfolio Berwyn, PA 12,216,98112.2m $897.5m $897.5m 0.26% Reduced -337.4k -337,400
5 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 11,842,72811.8m $870.0m $870.0m 0.05% Added +485.2k +485,188
6 Wealthspire Advisors, LLC 4.24% of their portfolio NEW YORK, NY 11,032,15611.0m $810.4m $810.4m 4.24% Added +593.5k +593,518
7 HB Wealth Management, LLC 3.58% of their portfolio Atlanta, GA 7,209,0327.2m $526.7m $526.7m 3.58% Added +790.9k +790,874
8 Cetera Investment Advisers 0.56% of their portfolio SCHAUMBURG, IL 6,534,1526.5m $480.0m $480.0m 0.56% Reduced -42.9k -42,920
9 Cambridge Investment Research Advisors, Inc. 1.29% of their portfolio FAIRFIELD, IA 6,381,6116.4m $468.8m $468.8m 1.29% Reduced -27.9k -27,926
10 JANE STREET GROUP, LLC 0.48% of their portfolio NEW YORK, NY 5,618,9535.6m $412.8m $412.8m 0.48% Added +5.3m +5,286,387
11 AMERIPRISE FINANCIAL INC 0.08% of their portfolio MINNEAPOLIS, MN 4,585,9604.6m $336.9m $336.9m 0.08% Added +564.7k +564,715
12 Sageworth Trust Co 14.14% of their portfolio LANCASTER, PA 4,131,9634.1m $303.5m $303.5m 14.14% Reduced -17.9k -17,853
13 LPL Financial LLC 0.09% of their portfolio FORT MILL, SC 4,023,2814.0m $295.6m $295.6m 0.09% Added +615.4k +615,405
14 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 3,841,8083.8m $282.2m $282.2m 0.05% Reduced -4.2m -4,239,042
15 UBS Group AG 0.05% of their portfolio ZURICH, V8 3,815,2573.8m $280.3m $280.3m 0.05% Added +95.9k +95,871
16 Angeles Investment Advisors, LLC 15.94% of their portfolio SANTA MONICA, CA 3,303,7783.3m $242.7m $242.7m 15.94% Reduced -840.4k -840,445
17 HighTower Advisors, LLC 0.27% of their portfolio CHICAGO, IL 3,280,9623.3m $241.0m $241.0m 0.27% Added +1.4m +1,432,968
18 SIGNATUREFD, LLC 3.74% of their portfolio ATLANTA, GA 3,224,8213.2m $236.9m $236.9m 3.74% Added +12.8k +12,790
19 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.35% of their portfolio PLYMOUTH, MN 3,094,2103.1m $229.7m $229.7m 0.35% Added +20.5k +20,540
20 Wellspring Financial Advisors, LLC 0.27% of their portfolio CLEVELAND, OH 2,933,3852.9m $2.9m $2.9m 0.27% Unchanged
21 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 2,774,9902.8m $203.9m $203.9m 0.07% Added +58.2k +58,241
22 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 2,730,3002.7m $200.6m $200.6m 0.04% Added +116.4k +116,432
23 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,571,8782.6m $188.9m $188.9m 0.01% Reduced -3.0m -2,979,288
24 JANUS HENDERSON GROUP PLC 0.08% of their portfolio LONDON, X0 2,344,1592.3m $172.2m $172.2m 0.08% Added +14.1k +14,146
25 OSAIC HOLDINGS, INC. 0.21% of their portfolio SCOTTSDALE, AZ 2,098,9972.1m $151.7m $151.7m 0.21% Added +349.3k +349,316
26 UNIVEST FINANCIAL Corp 8.58% of their portfolio SOUDERTON, PA 2,086,7502.1m $153.3m $153.3m 8.58% Added +163.8k +163,824
27 Zhang Financial LLC 5.19% of their portfolio PORTAGE, MI 1,740,5741.7m $127.9m $127.9m 5.19% Added +178.0k +177,981
28 McKinley Carter Wealth Services, Inc. 6.64% of their portfolio WHEELING, WV 1,720,7481.7m $126.4m $126.4m 6.64% Added +9.8k +9,829
29 Vestmark Advisory Solutions, Inc. 2.40% of their portfolio Wakefield, MA 1,713,5111.7m $125.9m $125.9m 2.40% Reduced -1.5m -1,535,065
30 SEI INVESTMENTS CO 0.13% of their portfolio OAKS, PA 1,682,8241.7m $123.6m $123.6m 0.13% Added +100.5k +100,490
31 3EDGE Asset Management, LP 6.81% of their portfolio Naples, FL 1,643,6711.6m $120.6m $120.6m 6.81% Added +74.0k +73,993
32 First American Financial Corp 38.87% of their portfolio SANTA ANA, CA 1,614,3201.6m $118.6m $118.6m 38.87% Reduced -176.1k -176,085
33 Tidal Investments LLC 0.50% of their portfolio Milwaukee, WI 1,606,8481.6m $118.0m $118.0m 0.50% Added +142.9k +142,855
34 Cerity Partners LLC 0.19% of their portfolio NEW YORK, NY 1,584,1811.6m $116.4m $116.4m 0.19% Reduced -12.6k -12,643
35 Charter Oak Capital Management, LLC 9.02% of their portfolio PORTSMOUTH, NH 1,564,9911.6m $115.0m $115.0m 9.02% Added +171.1k +171,114
36 Envestnet Portfolio Solutions, Inc. 0.40% of their portfolio BERWYN, PA 1,478,9871.5m $108.6m $108.6m 0.40% Reduced -24.1k -24,077
37 LINCOLN NATIONAL CORP 3.04% of their portfolio RADNOR, PA 1,450,6301.5m $106.6m $106.6m 3.04% Added +19.6k +19,637
38 CAPTRUST FINANCIAL ADVISORS 0.21% of their portfolio RALEIGH, NC 1,380,5831.4m $101.4m $101.4m 0.21% Added +11.3k +11,327
39 Focus Partners Wealth 0.16% of their portfolio ST LOUIS, MO 1,367,0681.4m $100.7m $100.7m 0.16% Added +136.5k +136,465
40 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 1,292,9931.3m $95.0m $95.0m 0.03% Added +998 +998
41 ANGELES WEALTH MANAGEMENT, LLC 5.80% of their portfolio SANTA MONICA, CA 1,286,7401.3m $94.5m $94.5m 5.80% Added +44.5k +44,452
42 SENTINEL TRUST CO LBA 9.30% of their portfolio HOUSTON, TX 1,242,7721.2m $91.3m $91.3m 9.30% Added +44.2k +44,194
43 St. Louis Trust Co 11.14% of their portfolio SAINT LOUIS, MO 1,216,6731.2m $89.4m $89.4m 11.14% Added +96.2k +96,165
44 Gleason Group, Inc. 8.98% of their portfolio PROSPECT, KY 1,216,6191.2m $89.4m $89.4m 8.98% Added +97.7k +97,690
45 Global Endowment Management, LP 10.87% of their portfolio CHARLOTTE, NC 1,181,8721.2m $86.8m $86.8m 10.87% Reduced -70.6k -70,558
46 Capstone Financial Advisors, Inc. 4.56% of their portfolio DOWNERS GROVE, IL 1,146,2031.1m $84.2m $84.2m 4.56% Added +34 +34
47 Rockefeller Capital Management L.P. 0.16% of their portfolio NEW YORK, NY 1,117,0731.1m $82.1m $82.1m 0.16% Reduced -97.3k -97,339
48 COUNTRY CLUB BANK 4.82% of their portfolio KANSAS CITY, MO 1,111,8871.1m $81.3m $81.3m 4.82% Added +10.5k +10,510
49 Verus Financial Partners, Inc. 7.41% of their portfolio RICHMOND, VA 1,049,4531.0m $77.1m $77.1m 7.41% Reduced -26.8k -26,772
50 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 965,564965.6k $70.9m $70.9m 0.06% Added +29.9k +29,917
51 GREENWOOD GEARHART LLC 4.00% of their portfolio FAYETTEVILLE, AR 944,243944.2k $69.4m $69.4m 4.00% Added +26.7k +26,671
52 Roble, Belko & Company, Inc 9.22% of their portfolio SEWICKLEY, PA 925,561925.6k $68.0m $68.0m 9.22% Added +189.1k +189,064
53 COMMONWEALTH EQUITY SERVICES, LLC 0.09% of their portfolio WALTHAM, MA 921,878921.9k $67.7m $67.7m 0.09% Reduced -67.8k -67,822
54 IEQ CAPITAL, LLC 0.20% of their portfolio Foster City, CA 917,596917.6k $67.4m $67.4m 0.20% Added +68.8k +68,832
55 Mesirow Financial Investment Management, Inc. 1.14% of their portfolio CHICAGO, IL 869,407869.4k $63.9m $63.9m 1.14% Added +26.6k +26,642
56 Caprock Group, LLC 1.43% of their portfolio BOISE, ID 814,162814.2k $58.1m $58.1m 1.43% First filing
57 Towneley Capital Management, Inc / DE 12.96% of their portfolio LAGUNA HILLS, CA 812,159812.2k $59.7m $59.7m 12.96% Reduced -709 -709
58 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 804,960805.0k $59.1m $59.1m 0.01% Reduced -969 -969
59 Savant Capital, LLC 0.35% of their portfolio ROCKFORD, IL 791,412791.4k $58.1m $58.1m 0.35% Reduced -11.0k -10,972
60 Kestra Advisory Services, LLC 0.26% of their portfolio AUSTIN, TX 785,898785.9k $57.7m $57.7m 0.26% Reduced -41.5k -41,490
61 Luminvest Wealth Management LLC 18.60% of their portfolio SCOTTSDALE, AZ 776,939776.9k $57.1m $57.1m 18.60% Added +33.6k +33,573
62 D.A. DAVIDSON & CO. 0.36% of their portfolio GREAT FALLS, MT 775,547775.5k $57.0m $57.0m 0.36% Added +14.1k +14,057
63 Sanctuary Advisors, LLC 0.16% of their portfolio INDIANAPOLIS, IN 764,020764.0k $52.0m $52.0m 0.16% Added +509.8k +509,841
64 AMG National Trust Bank 1.34% of their portfolio GREENWOOD VILLAGE, CO 747,248747.2k $54.9m $54.9m 1.34% Added +34.3k +34,326
65 Haverford Trust Co 0.49% of their portfolio Radnor, PA 740,093740.1k $54.4m $54.4m 0.49% Reduced -7.0k -7,008
66 MML INVESTORS SERVICES, LLC 0.14% of their portfolio SPRINGFIELD, MA 734,100734.1k $53.9m $53.9m 0.14% Added +186.5k +186,542
67 SAM Advisors, LLC 17.35% of their portfolio OAKHURST, CA 732,827732.8k $53.8m $53.8m 17.35% Reduced -1.8k -1,750
68 MONETA GROUP INVESTMENT ADVISORS LLC 0.43% of their portfolio ST LOUIS, MO 729,446729.4k $53.6m $53.6m 0.43% Added +13.2k +13,232
69 Bogart Wealth, LLC 2.16% of their portfolio MCLEAN, VA 724,048724.0k $53.2m $53.2m 2.16% Reduced -4.3k -4,287
70 Creative Planning 0.04% of their portfolio OVERLAND PARK, KS 712,897712.9k $52.4m $52.4m 0.04% Added +37.5k +37,483
71 Private Advisor Group, LLC 0.25% of their portfolio MORRISTOWN, NJ 700,517700.5k $51.5m $51.5m 0.25% Added +150.3k +150,280
72 OKABENA INVESTMENT SERVICES INC 9.90% of their portfolio MINNEAPOLIS, MN 693,725693.7k $51.0m $51.0m 9.90% Added +56.3k +56,348
73 Provenance Wealth Advisors, LLC 6.52% of their portfolio FORT LAUDERDALE, FL 686,983687.0k $50.5m $50.5m 6.52% Added +7.3k +7,337
74 Equitable Holdings, Inc. 0.37% of their portfolio NEW YORK, NY 686,324686.3k $50.4m $50.4m 0.37% Added +44.3k +44,293
75 Corient Private Wealth LP 0.08% of their portfolio MIAMI, FL 675,100675.1k $49.6m $49.6m 0.08% Reduced -11.6m -11,643,831
76 Efficient Advisors, LLC 2.69% of their portfolio BEAVERTON, OR 650,241650.2k $47.8m $47.8m 2.69% Added +9.8k +9,752
77 COMERICA BANK 0.18% of their portfolio DALLAS, TX 644,491644.5k $47.3m $47.3m 0.18% Reduced -3.1k -3,054
78 Topsail Wealth Management, LLC 7.95% of their portfolio CHARLOTTE, NC 639,617639.6k $47.0m $47.0m 7.95% Added +25.9k +25,947
79 25 LLC 15.83% of their portfolio ST. LOUIS, MO 632,978633.0k $46.5m $46.5m 15.83% Added +10.1k +10,138
80 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 604,825604.8k $44.4m $44.4m 0.03% Added +44.3k +44,251
81 Peak Financial Management, Inc. 11.65% of their portfolio WELLESLEY, MA 599,979600.0k $44.1m $44.1m 11.65% Added +6.7k +6,743
82 GeoWealth Management, LLC 1.58% of their portfolio CHICAGO, IL 590,218590.2k $43.4m $43.4m 1.58% Reduced -19.5k -19,547
83 Allen Investment Management, LLC 0.48% of their portfolio NEW YORK, NY 588,106588.1k $43.2m $43.2m 0.48% Added +101.4k +101,417
84 PHILLIPS FINANCIAL MANAGEMENT, LLC 2.83% of their portfolio FORT WAYNE, IN 584,887584.9k $43.0m $43.0m 2.83% Reduced -9.2k -9,181
85 Dakota Wealth Management 0.86% of their portfolio PALM BEACH GARDENS, FL 583,680583.7k $42.9m $42.9m 0.86% Added +8.5k +8,533
86 White Lighthouse Investment Management Inc. 6.47% of their portfolio BEDFORD, MA 578,112578.1k $42.5m $42.5m 6.47% Added +13.9k +13,872
87 Greenline Partners, LLC 5.05% of their portfolio NEW YORK, NY 565,628565.6k $41.6m $41.6m 5.05% Added +54.8k +54,771
88 James J. Burns & Company, LLC 6.06% of their portfolio MELVILLE, NY 553,423553.4k $40.7m $40.7m 6.06% Added +1.2k +1,176
89 FMR LLC 0.00% of their portfolio BOSTON, MA 531,148531.1k $39.0m $39.0m 0.00% Added +66.1k +66,147
90 Mill Creek Capital Advisors, LLC 0.80% of their portfolio Conshohocken, PA 529,679529.7k $38.9m $38.9m 0.80% Added +17.9k +17,901
91 Estate Counselors, LLC 3.26% of their portfolio Thiensville, WI 517,325517.3k $38.0m $38.0m 3.26% Added +36.6k +36,635
92 N.E.W. Advisory Services LLC 3.38% of their portfolio DE PERE, WI 515,084515.1k $37.8m $37.8m 3.38% Added +23.6k +23,550
93 Mariner, LLC 0.05% of their portfolio Overland Park, KS 512,465512.5k $37.6m $37.6m 0.05% Added +32.9k +32,879
94 Standpoint Asset Management, LLC 8.50% of their portfolio SCOTTSDALE, AZ 512,200512.2k $37.6m $37.6m 8.50% Reduced -102.8k -102,800
95 Souders Financial Advisors 4.41% of their portfolio CINCINNATI, OH 505,153505.2k $37.1m $37.1m 4.41% Reduced -27.6k -27,604
96 CAHABA WEALTH MANAGEMENT, INC. 2.68% of their portfolio Atlanta, GA 503,966504.0k $37.0m $37.0m 2.68% Added +1.0k +1,031
97 BURRUS FINANCIAL SERVICES, INC. 16.81% of their portfolio SALT LAKE CITY, UT 498,906498.9k $36.6m $36.6m 16.81% Reduced -4.0k -4,010
98 BlackRock, Inc. 0.00% of their portfolio New York, NY 486,702486.7k $35.8m $35.8m 0.00% Reduced -40.5k -40,539
99 Penserra Capital Management LLC 0.42% of their portfolio ORINDA, CA 475,829475.8k $35.0m $35.0m 0.42% New
100 WBH ADVISORY INC 2.66% of their portfolio BALTIMORE, MD 473,930473.9k $34.8m $34.8m 2.66% Added +4.2k +4,229