Vault-13

VANGUARD STAR FDS VXUS

VG TL INTL STK F · ETP · CUSIP 921909768

1,727 institutional holders +76 vs Q4 2025
428,653,822428.7m shares reported held*
$32.7bnreported value*
169 new 865 added 428 reduced 85 sold out net bought ≈ $2.0bn (+25.4m 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 ($179.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $76.21. Options: 3 managers hold calls ($43.3m notional), 5 hold puts ($37.7m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 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: 1,467Q4 25: 1,651Q1 26: 1,7271,727Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q4 20251,651
Q1 20261,727

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ2 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 25Q4 25: 931 bought or addedQ4 25: 427 cut or sold outQ1 26: 1,034 bought or addedQ1 26: 513 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024615424
Q3 2024612435
Q4 2024678399
Q1 2025715504
Q2 2025785484
Q3 2025833452
Q4 2025931427
Q1 20261,034513

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ2 25 calls: $7.2mQ2 25 puts: $11.5mQ2 25P/C 1.60Q3 25 calls: $7.6mQ3 25 puts: $9.4mQ3 25P/C 1.23Q4 25 calls: $10.1mQ4 25 puts: $10.1mQ4 25P/C 0.99Q1 26 calls: $43.3mQ1 26 puts: $37.7mQ1 26P/C 0.87
Numbers
QuarterCallsPutsP/C
Q2 2025$7.2m$11.5m1.60
Q3 2025$7.6m$9.4m1.23
Q4 2025$10.1m$10.1m0.99
Q1 2026$43.3m$37.7m0.87

Biggest buyers

Rakuten Investment Management, Inc. Added +15,070,900+15.1m
BANK OF AMERICA CORP /DE/ Added +6,264,606+6.3m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +5,690,192+5.7m
SIGNATUREFD, LLC Added +1,940,139+1.9m
WELLS FARGO & COMPANY/MN Added +1,646,096+1.6m
UBS Group AG Added +1,234,400+1.2m
LPL Financial LLC Added +758,351+758.4k
Obermeyer Wealth Partners Added +747,714+747.7k
RAYMOND JAMES FINANCIAL INC Added +713,581+713.6k
FIFTH THIRD BANCORP Added +660,376+660.4k

Biggest sellers

FLOW TRADERS U.S. LLC Reduced -10,220,770-10.2m
JANE STREET GROUP, LLC Reduced -3,612,650-3.6m
Corient Private Wealth LP Reduced -2,502,968-2.5m
MORGAN STANLEY Reduced -2,441,502-2.4m
Penserra Capital Management LLC Sold out -1,187,606-1.2m
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -1,164,330-1.2m
McKinley Carter Wealth Services, Inc. Reduced -848,597-848.6k
Select Equity Group, L.P. Sold out -533,471-533.5k
3EDGE Asset Management, LP Reduced -482,489-482.5k
Envestnet Portfolio Solutions, Inc. Reduced -335,220-335.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $29.8m386.2k shares
CITADEL ADVISORS LLC Added $8.8m114.5k shares
Point72 Asset Management, L.P. New $4.7m60.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $28.8m373.6k shares
Point72 Asset Management, L.P. New $4.8m62.5k shares
CITADEL ADVISORS LLC Added $3.7m47.6k shares
LOGAN CAPITAL MANAGEMENT INC New $386.6k5.0k shares
Cetera Investment Advisers Unchanged $86200 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD ADVISERS INC 26.45% of their portfolio Malvern, PA 87,515,47987.5m $6.7bn $6.7bn 26.45% First filing
2 Rakuten Investment Management, Inc. 4.48% of their portfolio TOKYO, M0 30,141,80030.1m $2.2bn $2.2bn 4.48% Added +15.1m +15,070,900
3 BANK OF AMERICA CORP /DE/ 0.15% of their portfolio CHARLOTTE, NC 26,202,62026.2m $2.0bn $2.0bn 0.15% Added +6.3m +6,264,606
4 Narodna banka Slovenska 37.07% of their portfolio BRATISLAVA, 2B 14,913,13114.9m $1.1bn $1.1bn 37.07% First filing
5 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 14,053,16514.1m $1.1bn $1.1bn 0.07% Reduced -2.4m -2,441,502
6 ENVESTNET ASSET MANAGEMENT INC 0.25% of their portfolio Berwyn, PA 12,151,57612.2m $937.0m $937.0m 0.25% Added +274.7k +274,700
7 HB Wealth Management, LLC 4.01% of their portfolio Atlanta, GA 8,063,0988.1m $618.3m $618.3m 4.01% Added +454.2k +454,169
8 Cetera Investment Advisers 0.54% of their portfolio SCHAUMBURG, IL 6,609,7376.6m $509.7m $509.7m 0.54% Added +71.0k +70,953
9 Wealthspire Advisors, LLC 3.84% of their portfolio NEW YORK, NY 6,334,9626.3m $488.5m $488.5m 3.84% Added +451.7k +451,674
10 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.63% of their portfolio BALA CYNWYD, PA 6,333,3686.3m $488.4m $488.4m 0.63% Added +5.7m +5,690,192
11 Cambridge Investment Research Advisors, Inc. 1.23% of their portfolio FAIRFIELD, IA 6,180,5186.2m $476.6m $476.6m 1.23% Reduced -178.9k -178,864
12 Aptus Capital Advisors, LLC 3.62% of their portfolio FAIRHOPE, AL 5,581,5085.6m $430.4m $430.4m 3.62% Added +428.6k +428,582
13 UBS Group AG 0.07% of their portfolio ZURICH, V8 5,235,3685.2m $403.7m $403.7m 0.07% Added +1.2m +1,234,400
14 LPL Financial LLC 0.11% of their portfolio FORT MILL, SC 5,206,5075.2m $401.5m $401.5m 0.11% Added +758.4k +758,351
15 SIGNATUREFD, LLC 6.15% of their portfolio ATLANTA, GA 5,202,7595.2m $401.2m $401.2m 6.15% Added +1.9m +1,940,139
16 AMERIPRISE FINANCIAL INC 0.09% of their portfolio MINNEAPOLIS, MN 4,932,7064.9m $380.3m $380.3m 0.09% Added +51.4k +51,386
17 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 4,686,0694.7m $361.3m $361.3m 0.07% Added +508.9k +508,924
18 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 4,655,6104.7m $359.0m $359.0m 0.07% Added +1.6m +1,646,096
19 Sageworth Trust Co 13.10% of their portfolio LANCASTER, PA 3,952,3994.0m $304.8m $304.8m 13.10% Reduced -241.1k -241,136
20 HighTower Advisors, LLC 0.30% of their portfolio CHICAGO, IL 3,671,0743.7m $283.1m $283.1m 0.30% Added +243.7k +243,678
21 RAYMOND JAMES FINANCIAL INC 0.09% of their portfolio ST. PETERSBURG, FL 3,633,3553.6m $280.2m $280.2m 0.09% Added +713.6k +713,581
22 JANUS HENDERSON GROUP PLC 0.11% of their portfolio LONDON, X0 2,961,4403.0m $228.4m $228.4m 0.11% Added +313.4k +313,410
23 Angeles Investment Advisors, LLC 15.26% of their portfolio SANTA MONICA, CA 2,943,8792.9m $227.0m $227.0m 15.26% Added +101.1k +101,085
24 Wellspring Financial Advisors, LLC 0.22% of their portfolio CLEVELAND, OH 2,933,3852.9m $2.9m $2.9m 0.22% Unchanged
25 Vanguard National Trust Co 11.56% of their portfolio MALVERN, PA 2,379,2282.4m $183.5m $183.5m 11.56% First filing
26 OSAIC HOLDINGS, INC. 0.26% of their portfolio SCOTTSDALE, AZ 2,308,7352.3m $178.0m $178.0m 0.26% Added +240.4k +240,379
27 Corient Private Wealth LP 0.24% of their portfolio MIAMI, FL 2,145,5562.1m $165.4m $165.4m 0.24% Reduced -2.5m -2,502,968
28 UNIVEST FINANCIAL Corp 9.22% of their portfolio SOUDERTON, PA 2,129,2302.1m $164.2m $164.2m 9.22% Added +26.5k +26,520
29 First American Financial Corp 43.90% of their portfolio SANTA ANA, CA 2,105,4102.1m $162.3m $162.3m 43.90% Added +15.2k +15,250
30 Tidal Investments LLC 0.51% of their portfolio Milwaukee, WI 2,100,9752.1m $162.0m $162.0m 0.51% Added +110.2k +110,204
31 Zhang Financial LLC 5.55% of their portfolio PORTAGE, MI 2,082,5822.1m $160.6m $160.6m 5.55% Added +202.3k +202,295
32 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.34% of their portfolio PLYMOUTH, MN 2,026,6892.0m $155.2m $155.2m 0.34% Reduced -1.2m -1,164,330
33 SEI INVESTMENTS CO 0.13% of their portfolio OAKS, PA 1,890,8841.9m $145.8m $145.8m 0.13% Added +128.2k +128,214
34 Cerity Partners LLC 0.20% of their portfolio NEW YORK, NY 1,861,2871.9m $143.7m $143.7m 0.20% Added +215.7k +215,700
35 CAPTRUST FINANCIAL ADVISORS 0.24% of their portfolio RALEIGH, NC 1,767,7821.8m $136.3m $136.3m 0.24% Added +364.2k +364,154
36 Vestmark Advisory Solutions, Inc. 1.49% of their portfolio Wakefield, MA 1,743,7231.7m $134.5m $134.5m 1.49% Reduced -55.4k -55,423
37 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,689,1361.7m $126.1m $126.1m 0.01% Added +198.6k +198,564
38 Charter Oak Capital Management, LLC 10.03% of their portfolio PORTSMOUTH, NH 1,676,7141.7m $129.3m $129.3m 10.03% Added +13.2k +13,211
39 ANGELES WEALTH MANAGEMENT, LLC 6.89% of their portfolio SANTA MONICA, CA 1,643,2431.6m $126.7m $126.7m 6.89% Added +250.4k +250,388
40 Focus Partners Wealth 0.14% of their portfolio ST LOUIS, MO 1,622,9551.6m $125.2m $125.2m 0.14% Added +17.4k +17,385
41 Rockefeller Capital Management L.P. 0.21% of their portfolio NEW YORK, NY 1,507,4621.5m $116.2m $116.2m 0.21% Added +339.0k +339,009
42 LINCOLN NATIONAL CORP 3.24% of their portfolio RADNOR, PA 1,449,0591.4m $111.7m $111.7m 3.24% Reduced -31.1k -31,092
43 Global Endowment Management, LP 12.39% of their portfolio CHARLOTTE, NC 1,439,6391.4m $111.0m $111.0m 12.39% Added +247.8k +247,799
44 GREENWOOD GEARHART LLC 5.96% of their portfolio FAYETTEVILLE, AR 1,430,0751.4m $110.3m $110.3m 5.96% Added +448.9k +448,929
45 SENTINEL TRUST CO LBA 10.82% of their portfolio HOUSTON, TX 1,412,2131.4m $108.9m $108.9m 10.82% Added +47.2k +47,220
46 Gleason Group, Inc. 10.14% of their portfolio PROSPECT, KY 1,327,4741.3m $102.4m $102.4m 10.14% Added +59.1k +59,102
47 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 1,314,3671.3m $99.2m $99.2m 0.03% Added +24.1k +24,051
48 Allen Investment Management, LLC 1.15% of their portfolio NEW YORK, NY 1,203,0561.2m $92.8m $92.8m 1.15% Added +338.7k +338,746
49 St. Louis Trust Co 10.81% of their portfolio SAINT LOUIS, MO 1,200,7041.2m $92.6m $92.6m 10.81% Reduced -4.6k -4,641
50 Envestnet Portfolio Solutions, Inc. 0.50% of their portfolio BERWYN, PA 1,167,4181.2m $90.0m $90.0m 0.50% Reduced -335.2k -335,220
51 Capstone Financial Advisors, Inc. 4.78% of their portfolio DOWNERS GROVE, IL 1,149,8491.1m $88.7m $88.7m 4.78% Added +3.7k +3,690
52 FIRST NATIONAL BANK OF OMAHA 2.53% of their portfolio OMAHA, NE 1,099,3751.1m $82.1m $82.1m 2.53% Added +5.5k +5,541
53 STIFEL FINANCIAL CORP 0.08% of their portfolio ST. LOUIS, MO 1,078,3501.1m $83.2m $83.2m 0.08% Added +94.0k +93,987
54 Roble, Belko & Company, Inc 10.24% of their portfolio SEWICKLEY, PA 1,044,3861.0m $80.5m $80.5m 10.24% Added +115.4k +115,424
55 Dakota Wealth Management 1.71% of their portfolio PALM BEACH GARDENS, FL 1,025,0061.0m $79.0m $79.0m 1.71% Added +46.5k +46,458
56 Verus Financial Partners, Inc. 7.49% of their portfolio RICHMOND, VA 1,010,6091.0m $83.5m $83.5m 7.49% Reduced -6.3k -6,298
57 Provenance Wealth Advisors, LLC 8.17% of their portfolio FORT LAUDERDALE, FL 1,000,8121.0m $77.2m $77.2m 8.17% Reduced -27.2k -27,220
58 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.05% of their portfolio MILWAUKEE, WI 1,000,0411.0m $77.1m $77.1m 0.05% Added +306.6k +306,582
59 COMMONWEALTH EQUITY SERVICES, LLC 0.11% of their portfolio WALTHAM, MA 991,433991.4k $76.4m $76.4m 0.11% Added +12.7k +12,699
60 Mesirow Financial Investment Management, Inc. 1.21% of their portfolio CHICAGO, IL 972,639972.6k $75.0m $75.0m 1.21% Added +337.2k +337,247
61 IEQ CAPITAL, LLC 0.35% of their portfolio Foster City, CA 966,621966.6k $74.5m $74.5m 0.35% Added +3.9k +3,868
62 Creative Planning 0.05% of their portfolio OVERLAND PARK, KS 947,319947.3k $73.0m $73.0m 0.05% Added +195.6k +195,585
63 AMG National Trust Bank 1.57% of their portfolio GREENWOOD VILLAGE, CO 939,954940.0k $72.5m $72.5m 1.57% Added +92.6k +92,637
64 Luminvest Wealth Management LLC 18.92% of their portfolio SCOTTSDALE, AZ 926,464926.5k $72.4m $72.4m 18.92% Added +35.5k +35,486
65 Caprock Group, LLC 1.67% of their portfolio BOISE, ID 892,206892.2k $68.8m $68.8m 1.67% Added +5.6k +5,564
66 Private Advisor Group, LLC 0.30% of their portfolio MORRISTOWN, NJ 834,375834.4k $64.3m $64.3m 0.30% Added +131.2k +131,247
67 Towneley Capital Management, Inc / DE 13.24% of their portfolio LAGUNA HILLS, CA 820,572820.6k $63.3m $63.3m 13.24% Reduced -6.0k -6,022
68 FLOW TRADERS U.S. LLC 1.98% of their portfolio NEW YORK, NY 810,053810.1k $62.5m $62.5m 1.98% Reduced -10.2m -10,220,770
69 D.A. DAVIDSON & CO. 0.36% of their portfolio GREAT FALLS, MT 777,797777.8k $60.0m $60.0m 0.36% Added +5.0k +5,044
70 MONETA GROUP INVESTMENT ADVISORS LLC 0.45% of their portfolio ST LOUIS, MO 775,668775.7k $59.8m $59.8m 0.45% Added +46.1k +46,127
71 3EDGE Asset Management, LP 2.89% of their portfolio Naples, FL 774,479774.5k $59.7m $59.7m 2.89% Reduced -482.5k -482,489
72 Obermeyer Wealth Partners 2.71% of their portfolio ASPEN, CO 762,643762.6k $58.8m $58.8m 2.71% Added +747.7k +747,714
73 Greenline Partners, LLC 6.21% of their portfolio NEW YORK, NY 749,731749.7k $57.8m $57.8m 6.21% Added +89.7k +89,681
74 Mariner, LLC 0.07% of their portfolio Overland Park, KS 745,773745.8k $57.5m $57.5m 0.07% Added +181.2k +181,194
75 FMR LLC 0.00% of their portfolio BOSTON, MA 739,473739.5k $57.0m $57.0m 0.00% Added +160.0k +160,002
76 Equitable Holdings, Inc. 0.36% of their portfolio NEW YORK, NY 738,442738.4k $55.7m $55.7m 0.36% Added +14.2k +14,190
77 Haverford Trust Co 0.52% of their portfolio Radnor, PA 735,394735.4k $56.7m $56.7m 0.52% Added +7.7k +7,664
78 Beacon Pointe Advisors, LLC 0.30% of their portfolio NEWPORT BEACH, CA 729,817729.8k $56.3m $56.3m 0.30% Added +90.1k +90,068
79 SAM Advisors, LLC 17.51% of their portfolio OAKHURST, CA 724,431724.4k $55.9m $55.9m 17.51% Added +2.0k +1,993
80 Bogart Wealth, LLC 2.15% of their portfolio MCLEAN, VA 722,219722.2k $55.7m $55.7m 2.15% Reduced -2.5k -2,520
81 25 LLC 16.93% of their portfolio ST. LOUIS, MO 712,542712.5k $54.9m $54.9m 16.93% Added +25.1k +25,142
82 Topsail Wealth Management, LLC 7.83% of their portfolio CHARLOTTE, NC 688,440688.4k $53.1m $53.1m 7.83% Added +13.5k +13,506
83 MML INVESTORS SERVICES, LLC 0.15% of their portfolio SPRINGFIELD, MA 685,730685.7k $52.9m $52.9m 0.15% Reduced -118.8k -118,834
84 FIFTH THIRD BANCORP 0.09% of their portfolio CINCINNATI, OH 665,073665.1k $51.3m $51.3m 0.09% Added +660.4k +660,376
85 Kestra Advisory Services, LLC 0.19% of their portfolio AUSTIN, TX 659,613659.6k $50.9m $50.9m 0.19% Added +62.7k +62,652
86 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 645,976646.0k $48.2m $48.2m 0.02% Added +264.4k +264,381
87 White Lighthouse Investment Management Inc. 6.89% of their portfolio BEDFORD, MA 643,659643.7k $49.6m $49.6m 6.89% Added +50.2k +50,167
88 Wealthfront Advisers LLC 0.10% of their portfolio Palo Alto, CA 608,493608.5k $46.9m $46.9m 0.10% Added +120.9k +120,863
89 Savant Capital, LLC 0.22% of their portfolio ROCKFORD, IL 595,695595.7k $45.9m $45.9m 0.22% Added +350.1k +350,062
90 Peak Financial Management, Inc. 11.61% of their portfolio WELLESLEY, MA 593,252593.3k $45.7m $45.7m 11.61% Reduced -2.0k -2,000
91 Joel Isaacson & Co., LLC 1.49% of their portfolio NEW YORK, NY 582,869582.9k $44.9m $44.9m 1.49% Added +72.0k +71,974
92 GeoWealth Management, LLC 1.61% of their portfolio CHICAGO, IL 580,473580.5k $44.8m $44.8m 1.61% Reduced -3.8k -3,832
93 James J. Burns & Company, LLC 6.03% of their portfolio MELVILLE, NY 576,420576.4k $44.4m $44.4m 6.03% Added +2.7k +2,660
94 Tenon Financial LLC 17.15% of their portfolio METUCHEN, NJ 566,090566.1k $43.7m $43.7m 17.15% Added +63.8k +63,793
95 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 560,317560.3k $43.2m $43.2m 0.01% Added +25.4k +25,423
96 N.E.W. Advisory Services LLC 3.12% of their portfolio DE PERE, WI 541,563541.6k $41.8m $41.8m 3.12% Added +4.4k +4,388
97 Mill Creek Capital Advisors, LLC 0.84% of their portfolio Conshohocken, PA 529,718529.7k $40.8m $40.8m 0.84% Reduced -25 -25
98 McKinley Carter Wealth Services, Inc. 2.36% of their portfolio WHEELING, WV 529,601529.6k $40.8m $40.8m 2.36% Reduced -848.6k -848,597
99 Estate Counselors, LLC 3.58% of their portfolio Thiensville, WI 521,214521.2k $40.2m $40.2m 3.58% Reduced -5.8k -5,789
100 TRB Wealth Management, LLC 5.68% of their portfolio HOUSTON, TX 518,362518.4k $40.0m $40.0m 5.68% First filing