Vault-13

VANGUARD WELLINGTON FD VFMO

US MOMENTUM · ETP · CUSIP 921935508

161 institutional holders +21 vs Q3 2025
3,057,3903.1m shares reported held*
$589.5mreported value*
22 new 62 added 40 reduced 6 sold out net sold ≈ $48.3m (-253.0k 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 ($7.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $192.82.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 43Q4 22: 56Q1 23: 58Q2 23: 64Q3 23: 64Q4 23: 65Q1 24: 82Q2 24: 91Q3 24: 103Q4 24: 127Q1 25: 141Q2 25: 140Q3 25: 140Q4 25: 161161Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202243
Q4 202256
Q1 202358
Q2 202364
Q3 202364
Q4 202365
Q1 202482
Q2 202491
Q3 2024103
Q4 2024127
Q1 2025141
Q2 2025140
Q3 2025140
Q4 2025161

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 50 bought or addedQ1 24: 23 cut or sold outQ2 24: 53 bought or addedQ2 24: 29 cut or sold outQ2 24Q3 24: 51 bought or addedQ3 24: 39 cut or sold outQ4 24: 69 bought or addedQ4 24: 32 cut or sold outQ4 24Q1 25: 88 bought or addedQ1 25: 41 cut or sold outQ2 25: 69 bought or addedQ2 25: 60 cut or sold outQ2 25Q3 25: 77 bought or addedQ3 25: 50 cut or sold outQ4 25: 84 bought or addedQ4 25: 46 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20245023
Q2 20245329
Q3 20245139
Q4 20246932
Q1 20258841
Q2 20256960
Q3 20257750
Q4 20258446

Biggest buyers

RAYMOND JAMES FINANCIAL INC Added +44,136+44.1k
LPL Financial LLC Added +36,308+36.3k
Thrivent Financial for Lutherans New +29,592+29.6k
RITHOLTZ WEALTH MANAGEMENT Added +22,621+22.6k
UBS Group AG Added +21,256+21.3k
Farther Finance Advisors, LLC Added +14,481+14.5k
WIN ADVISORS, INC New +12,996+13.0k
Hobart Private Capital, LLC Added +10,375+10.4k
Financial Partners Group, Inc Added +9,152+9.2k
Merit Financial Group, LLC Added +7,673+7.7k

Biggest sellers

WELLS FARGO & COMPANY/MN Reduced -300,591-300.6k
GREAT VALLEY ADVISOR GROUP, INC. Reduced -184,324-184.3k
Tidal Investments LLC Reduced -18,782-18.8k
Systelligence, LLC Reduced -13,290-13.3k
SAGESPRING WEALTH PARTNERS, LLC Reduced -7,646-7.6k
ANDERSON HOAGLAND & CO Reduced -5,357-5.4k
ENVESTNET ASSET MANAGEMENT INC Reduced -4,688-4.7k
CITADEL ADVISORS LLC Sold out -3,930-3.9k
OLD MISSION CAPITAL LLC Reduced -3,758-3.8k
SCS Capital Management LLC Reduced -3,296-3.3k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 RITHOLTZ WEALTH MANAGEMENT 2.27% of their portfolio NEW YORK, NY 651,008651.0k $124.5m $124.5m 2.27% Added +22.6k +22,621
2 Strategic Financial Services, Inc. 2.70% of their portfolio UTICA, NY 284,153284.2k $58.5m $58.5m 2.70% Added +3.9k +3,874
3 GREAT VALLEY ADVISOR GROUP, INC. 0.58% of their portfolio WILMINGTON, DE 159,160159.2k $30.4m $30.4m 0.58% Reduced -184.3k -184,324
4 DAVIDSON INVESTMENT ADVISORS 1.17% of their portfolio GREAT FALLS, MT 146,589146.6k $28.0m $28.0m 1.17% Added +6.8k +6,811
5 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 140,128140.1k $26.8m $26.8m 0.01% Added +36.3k +36,308
6 CABOT WEALTH MANAGEMENT INC 2.42% of their portfolio BEVERLY, MA 114,327114.3k $21.9m $21.9m 2.42% Added +6.1k +6,098
7 ANDERSON HOAGLAND & CO 1.87% of their portfolio ST LOUIS, MO 113,683113.7k $21.7m $21.7m 1.87% Reduced -5.4k -5,357
8 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 113,298113.3k $21.7m $21.7m 0.01% Added +44.1k +44,136
9 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 0.36% of their portfolio Seattle, WA 106,121106.1k $20.3m $20.3m 0.36% Added +2.2k +2,204
10 Systelligence, LLC 3.83% of their portfolio BLOOMINGTON, MN 105,314105.3k $20.1m $20.1m 3.83% Reduced -13.3k -13,290
11 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 85,31185.3k $16.3m $16.3m 0.02% Added +2.2k +2,175
12 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 84,16284.2k $16.1m $16.1m 0.00% Reduced -4.7k -4,688
13 Financial Partners Group, Inc 1.16% of their portfolio Overland Park, KS 49,50749.5k $10.0m $10.0m 1.16% Added +9.2k +9,152
14 Armbruster Capital Management, Inc. 1.44% of their portfolio PITTSFORD, NY 44,99145.0k $8.6m $8.6m 1.44% Reduced -2.8k -2,759
15 UBS Group AG 0.00% of their portfolio ZURICH, V8 43,06643.1k $8.2m $8.2m 0.00% Added +21.3k +21,256
16 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 33,30733.3k $6.4m $6.4m 0.02% Added +993 +993
17 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 32,39332.4k $6.2m $6.2m 0.03% Added +2.0k +1,991
18 Hobart Private Capital, LLC 1.17% of their portfolio CHARLOTTE, NC 31,45831.5k $6.0m $6.0m 1.17% Added +10.4k +10,375
19 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 29,59229.6k $5.7m $5.7m 0.01% New
20 Merit Financial Group, LLC 0.04% of their portfolio ALPHARETTA, GA 26,87326.9k $5.1m $5.1m 0.04% Added +7.7k +7,673
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 26,80626.8k $5.1m $5.1m 0.00% Reduced -429 -429
22 &PARTNERS 0.03% of their portfolio NASHVILLE, TN 26,05626.1k $5.0m $5.0m 0.03% Added +7.7k +7,664
23 LINCOLN CAPITAL CORP 1.76% of their portfolio EAST GREENWICH, RI 25,87725.9k $4.9m $4.9m 1.76% Reduced -354 -354
24 Stratos Wealth Advisors, LLC 0.23% of their portfolio BEACHWOOD, OH 25,31325.3k $4.8m $4.8m 0.23% Added +570 +570
25 Redhawk Wealth Advisors, Inc. 0.49% of their portfolio MINNEAPOLIS, MN 22,67322.7k $4.3m $4.3m 0.49% Added +2.1k +2,053
26 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 21,37721.4k $4.1m $4.1m 0.01% Added +2.1k +2,141
27 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 20,84720.8k $4.0m $4.0m 0.01% Added +5.3k +5,276
28 Betterment LLC 0.01% of their portfolio NEW YORK, NY 20,78320.8k $4.0m $4.0m 0.01% Added +115 +115
29 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 19,70819.7k $3.8m $3.8m 0.01% Added +2.7k +2,675
30 UMB Bank, n.a. 0.05% of their portfolio Kansas City, MO 19,30819.3k $3.7m $3.7m 0.05% Reduced -2.3k -2,299
31 Financial Freedom, LLC 1.75% of their portfolio CINCINNATI, OH 18,42118.4k $3.5m $3.5m 1.75% Added +4.6k +4,641
32 Farther Finance Advisors, LLC 0.03% of their portfolio SAN FRANCISCO, CA 14,58114.6k $2.8m $2.8m 0.03% Added +14.5k +14,481
33 Payne Capital LLC 2.74% of their portfolio LAKE OSWEGO, OR 14,09214.1k $2.7m $2.7m 2.74% Added +22 +22
34 Wilkins Miller Wealth Management, LLC 1.57% of their portfolio MOBILE, AL 13,82513.8k $2.6m $2.6m 1.57% Added +2.3k +2,327
35 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 13,15213.2k $2.5m $2.5m 0.01% Reduced -539 -539
36 WIN ADVISORS, INC 1.06% of their portfolio PALM BEACH GARDENS, FL 12,99613.0k $2.5m $2.5m 1.06% New
37 Nova R Wealth, Inc. 0.84% of their portfolio OVERLAND PARK, KS 12,08212.1k $2.3m $2.3m 0.84% Reduced -215 -215
38 WEDBUSH SECURITIES INC 0.06% of their portfolio PASADENA, CA 11,14811.1k $2.1m $2.1m 0.06% Added +1.6k +1,588
39 Tidal Investments LLC 0.01% of their portfolio Milwaukee, WI 10,47010.5k $2.0m $2.0m 0.01% Reduced -18.8k -18,782
40 Aspect Partners, LLC 0.80% of their portfolio FAIRFAX, VA 9,5599.6k $1.8m $1.8m 0.80% Added +1.3k +1,340
41 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 9,2889.3k $1.8m $1.8m 0.00% Added +7.3k +7,283
42 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio ORLANDO, FL 9,2839.3k $1.8m $1.8m 0.12% Reduced -640 -640
43 Caitlin John, LLC 1.15% of their portfolio BRIGHTON, MI 9,1609.2k $1.8m $1.8m 1.15% Reduced -211 -211
44 Valued Retirements, Inc. 1.56% of their portfolio HOUSTON, TX 8,3378.3k $1.6m $1.6m 1.56% Added +3.7k +3,749
45 IAM Advisory, LLC 0.35% of their portfolio EASTON, PA 8,2768.3k $1.6m $1.6m 0.35% Reduced -99 -99
46 Compass Ion Advisors, LLC 0.15% of their portfolio CONSHOHOCKEN, PA 8,2428.2k $1.6m $1.6m 0.15% Added +2.1k +2,122
47 IEQ CAPITAL, LLC 0.00% of their portfolio Foster City, CA 8,1798.2k $1.6m $1.6m 0.00% Added +718 +718
48 COMERICA BANK 0.01% of their portfolio DALLAS, TX 8,1588.2k $1.6m $1.6m 0.01% Unchanged
49 BLB&B Advisors, LLC 0.06% of their portfolio MONTGOMERYVILLE, PA 7,2507.2k $1.4m $1.4m 0.06% Unchanged
50 Clearstead Advisors, LLC 0.02% of their portfolio CLEVELAND, OH 7,0517.1k $1.3m $1.3m 0.02% Reduced -1.2k -1,243
51 OPPENHEIMER & CO INC 0.02% of their portfolio NEW YORK, NY 6,6346.6k $1.3m $1.3m 0.02% New
52 PFG Advisors 0.06% of their portfolio Phoenix, AZ 6,4656.5k $1.2m $1.2m 0.06% Added +738 +738
53 Blom & Howell Financial Planning, Inc. 1.19% of their portfolio MODESTO, CA 6,2466.2k $1.2m $1.2m 1.19% First filing
54 THOROUGHBRED FINANCIAL SERVICES, LLC 0.07% of their portfolio BRENTWOOD, TN 6,1216.1k $1.2m $1.2m 0.07% Added +88 +88
55 TFB Advisors LLC 0.31% of their portfolio OVERLAND PARK, KS 5,8035.8k $1.1m $1.1m 0.31% Added +192 +192
56 Focus Partners Advisor Solutions, LLC 0.01% of their portfolio SAINT LOUIS, MO 5,6595.7k $1.1m $1.1m 0.01% Reduced -2.7k -2,703
57 Odyssey Capital Advisors, Inc. 0.95% of their portfolio BALA CYNWYD, PA 5,6025.6k $1.1m $1.1m 0.95% First filing
58 Wealthcare Advisory Partners LLC 0.02% of their portfolio WEST CHESTER, PA 5,1475.1k $984.3k $984.3k 0.02% Added +212 +212
59 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 5,0375.0k $963.3k $963.3k 0.00% Reduced -1 -1
60 Global Retirement Partners, LLC 0.02% of their portfolio San Rafael, CA 4,7354.7k $905.6k $905.6k 0.02% Reduced -159 -159
61 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio Stamford, CT 4,5714.6k $874.2k $874.2k 0.00% Added +581 +581
62 HARBOUR INVESTMENTS, INC. 0.02% of their portfolio MADISON, WI 4,2364.2k $810.2k $810.2k 0.02% Added +3 +3
63 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 4,0184.0k $769.0k $769.0k 0.00% Reduced -327 -327
64 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 3,9804.0k $761.2k $761.2k 0.00% Added +539 +539
65 Apollon Wealth Management, LLC 0.01% of their portfolio MOUNT PLEASANT, SC 3,9393.9k $753.3k $753.3k 0.01% Reduced -28 -28
66 Kathmere Capital Management, LLC 0.05% of their portfolio WAYNE, PA 3,8423.8k $734.8k $734.8k 0.05% Added +192 +192
67 Redwood Family Wealth LLC 0.72% of their portfolio ADDISON, TX 3,8263.8k $731.7k $731.7k 0.72% First filing
68 PRINCIPAL SECURITIES, INC. 0.01% of their portfolio DES MOINES, IA 3,7203.7k $711.4k $711.4k 0.01% Added +63 +63
69 Diversify Advisory Services, LLC 0.02% of their portfolio SANDY, UT 3,6713.7k $758.5k $758.5k 0.02% Added +21 +21
70 SMITH, MOORE & CO. 0.05% of their portfolio CLAYTON, MO 3,6013.6k $688.7k $688.7k 0.05% Reduced -325 -325
71 SAGESPRING WEALTH PARTNERS, LLC 0.01% of their portfolio FRANKLIN, TN 3,4673.5k $663.0k $663.0k 0.01% Reduced -7.6k -7,646
72 United Advisor Group, LLC 0.08% of their portfolio CINCINNATI, OH 3,3033.3k $631.7k $631.7k 0.08% Unchanged
73 OneDigital Investment Advisors LLC 0.01% of their portfolio OVERLAND PARK, KS 3,2873.3k $628.6k $628.6k 0.01% Reduced -391 -391
74 Signal Advisors Wealth, LLC 0.05% of their portfolio DETROIT, MI 3,2423.2k $620.1k $620.1k 0.05% Added +1.4k +1,353
75 LAZARI CAPITAL MANAGEMENT, INC. 0.20% of their portfolio WOODLAND HILLS, CA 3,0833.1k $589.7k $589.7k 0.20% Reduced -370 -370
76 Soltis Investment Advisors LLC 0.04% of their portfolio ST. GEORGE, UT 3,0663.1k $586.3k $586.3k 0.04% Reduced -776 -776
77 OLD MISSION CAPITAL LLC 0.02% of their portfolio CHICAGO, IL 2,9713.0k $568.2k $568.2k 0.02% Reduced -3.8k -3,758
78 Breakwater Capital Group 0.08% of their portfolio PARAMUS, NJ 2,8432.8k $543.7k $543.7k 0.08% New
79 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 2,8302.8k $541.2k $541.2k 0.01% Reduced -210 -210
80 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 2,7242.7k $521.0k $521.0k 0.00% Reduced -369 -369
81 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 2,6802.7k $512.6k $512.6k 0.00% New
82 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 2,6472.6k $506.2k $506.2k 0.00% New
83 PARK AVENUE SECURITIES LLC 0.00% of their portfolio NEW YORK, NY 2,6192.6k $501.0k $501.0k 0.00% Added +234 +234
84 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 2,5202.5k $481.9k $481.9k 0.01% New
85 Mariner, LLC 0.00% of their portfolio Overland Park, KS 2,4842.5k $475.1k $475.1k 0.00% Added +364 +364
86 PARTNERS WEALTH MANAGEMENT, LLC 0.49% of their portfolio CARMEL BY THE SEA, CA 2,4632.5k $471.1k $471.1k 0.49% Added +40 +40
87 Waverly Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 2,4122.4k $461.4k $461.4k 0.00% Unchanged
88 Virtus Family Office LLC 0.39% of their portfolio EL PASO, TX 2,3602.4k $451.4k $451.4k 0.39% Added +553 +553
89 TECTONIC ADVISORS LLC 0.02% of their portfolio FRISCO, TX 2,3372.3k $446.9k $446.9k 0.02% Reduced -35 -35
90 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 2,3362.3k $446.8k $446.8k 0.00% New
91 Seed Wealth Management, Inc. 0.31% of their portfolio EVANSTON, IL 2,3302.3k $445.6k $445.6k 0.31% Unchanged
92 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 2,2752.3k $435.0k $435.0k 0.00% Added +130 +130
93 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,2712.3k $434.3k $434.3k 0.00% Reduced -882 -882
94 FLAGSHIP WEALTH ADVISORS, LLC 0.13% of their portfolio WAKEFIELD, MA 2,2502.2k $430.3k $430.3k 0.13% Unchanged
95 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 2,2492.2k $430.1k $430.1k 0.01% Added +107 +107
96 DAVIDSON TRUST CO 0.18% of their portfolio SEATTLE, WA 2,2182.2k $424.2k $424.2k 0.18% Unchanged
97 Pacific Sun Financial Corp 0.20% of their portfolio LOS ANGELES, CA 2,1392.1k $409.1k $409.1k 0.20% Added +118 +118
98 Riverview Trust Co 0.49% of their portfolio VANCOUVER, WA 2,1282.1k $407.0k $407.0k 0.49% Unchanged
99 Chicago Partners Investment Group LLC 0.01% of their portfolio CHICAGO, IL 2,0722.1k $427.7k $427.7k 0.01% Added +1 +1
100 Clark Wealth Partners 0.23% of their portfolio O'FALLON, IL 2,0072.0k $383.8k $383.8k 0.23% Unchanged