Vault-13

VANGUARD WELLINGTON FD VTES

SHORT TRM TAX EX · ETP · CUSIP 921935870

242 institutional holders +35 vs Q3 2025
7,688,3847.7m shares reported held*
$782.1mreported value*
40 new 119 added 36 reduced 12 sold out net bought ≈ $93.1m (+916.6k 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. Holder counts are more reliable. Implied quarter-end price ≈ $101.72.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q1 23: 8Q2 23: 24Q3 23: 34Q4 23: 77Q1 24: 79Q2 24: 94Q3 24: 102Q4 24: 138Q1 25: 157Q2 25: 191Q3 25: 207Q4 25: 242242Q1 23Q4 23Q3 24Q2 25Q4 25
Numbers
QuarterHolders
Q1 20238
Q2 202324
Q3 202334
Q4 202377
Q1 202479
Q2 202494
Q3 2024102
Q4 2024138
Q1 2025157
Q2 2025191
Q3 2025207
Q4 2025242

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 53 bought or addedQ1 24: 26 cut or sold outQ2 24: 57 bought or addedQ2 24: 26 cut or sold outQ2 24Q3 24: 63 bought or addedQ3 24: 29 cut or sold outQ4 24: 87 bought or addedQ4 24: 28 cut or sold outQ4 24Q1 25: 106 bought or addedQ1 25: 34 cut or sold outQ2 25: 119 bought or addedQ2 25: 56 cut or sold outQ2 25Q3 25: 128 bought or addedQ3 25: 56 cut or sold outQ4 25: 159 bought or addedQ4 25: 48 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20245326
Q2 20245726
Q3 20246329
Q4 20248728
Q1 202510634
Q2 202511956
Q3 202512856
Q4 202515948

Calls vs puts

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

CallsPuts
$0$25k$50k$75k$100kQ1 25 calls: $0Q1 25 puts: $91.0kQ1 25P/C —Q2 25 calls: $0Q2 25 puts: $69.0kQ2 25P/C —Q3 25 calls: $0Q3 25 puts: $19.0kQ3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$0$91.0k—
Q2 2025$0$69.0k—
Q3 2025$0$19.0k—
Q4 2025$0$0—

Biggest buyers

Corient Private Wealth LP Added +149,630+149.6k
Bedel Financial Consulting, Inc. Added +142,165+142.2k
RAYMOND JAMES FINANCIAL INC Added +131,513+131.5k
COMMONWEALTH EQUITY SERVICES, LLC Added +56,375+56.4k
GOLDMAN SACHS GROUP INC Added +53,500+53.5k
Apella Capital, LLC New +50,462+50.5k
TRUIST FINANCIAL CORP Added +37,594+37.6k
WELLS FARGO & COMPANY/MN Added +37,069+37.1k
Wescott Financial Advisory Group, LLC Added +32,412+32.4k
TIAA TRUST, NATIONAL ASSOCIATION Added +31,200+31.2k

Biggest sellers

MERCER GLOBAL ADVISORS INC /ADV Reduced -61,259-61.3k
Karpus Management, Inc. Reduced -37,450-37.5k
Focus Partners Advisor Solutions, LLC Sold out -37,212-37.2k
CREATIVE FINANCIAL DESIGNS INC /ADV Reduced -31,349-31.3k
Aspire Private Capital, LLC Reduced -21,739-21.7k
Gleason Group, Inc. Reduced -20,925-20.9k
Elequin Capital, LP Sold out -18,697-18.7k
BROWN ADVISORY INC Reduced -16,044-16.0k
Physician Wealth Solutions Inc. Sold out -8,130-8.1k
Gutierrez Wealth Advisory, LLC Reduced -7,167-7.2k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MERCER GLOBAL ADVISORS INC /ADV 0.20% of their portfolio DENVER, CO 1,313,5151.3m $133.4m $133.4m 0.20% Reduced -61.3k -61,259
2 Wescott Financial Advisory Group, LLC 5.93% of their portfolio Philadelphia, PA 668,567668.6k $67.9m $67.9m 5.93% Added +32.4k +32,412
3 Corient Private Wealth LP 0.02% of their portfolio MIAMI, FL 313,110313.1k $31.8m $31.8m 0.02% Added +149.6k +149,630
4 Gleason Group, Inc. 2.82% of their portfolio PROSPECT, KY 283,444283.4k $28.8m $28.8m 2.82% Reduced -20.9k -20,925
5 TIAA TRUST, NATIONAL ASSOCIATION 0.07% of their portfolio CHARLOTTE, NC 281,168281.2k $28.6m $28.6m 0.07% Added +31.2k +31,200
6 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 279,031279.0k $28.3m $28.3m 0.00% Added +19.1k +19,068
7 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 273,615273.6k $27.8m $27.8m 0.01% Added +131.5k +131,513
8 Karpus Management, Inc. 0.82% of their portfolio Pittsford, NY 262,800262.8k $26.7m $26.7m 0.82% Reduced -37.5k -37,450
9 SEEDS INVESTOR LLC 3.69% of their portfolio NEW YORK, NY 189,558189.6k $19.3m $19.3m 3.69% Added +6.9k +6,858
10 Bedel Financial Consulting, Inc. 1.80% of their portfolio INDIANAPOLIS, IN 164,779164.8k $16.7m $16.7m 1.80% Added +142.2k +142,165
11 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 140,189140.2k $14.2m $14.2m 0.00% Added +37.1k +37,069
12 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 116,241116.2k $11.8m $11.8m 0.01% Reduced -1.7k -1,679
13 Savant Capital, LLC 0.06% of their portfolio ROCKFORD, IL 106,331106.3k $10.8m $10.8m 0.06% Added +12.2k +12,200
14 Beaird Harris Wealth Management, LLC 0.71% of their portfolio DALLAS, TX 101,454101.5k $10.3m $10.3m 0.71% Reduced -6.7k -6,688
15 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 97,86897.9k $10.0m $10.0m 0.01% Added +1.8k +1,848
16 Stonebridge Capital Advisors LLC 0.65% of their portfolio ST PAUL, MN 91,91591.9k $9.3m $9.3m 0.65% Added +7.1k +7,078
17 Beacon Bank & Trust 1.87% of their portfolio Boston, MA 90,51190.5k $9.2m $9.2m 1.87% Added +8.1k +8,098
18 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 87,64087.6k $8.9m $8.9m 0.01% Added +56.4k +56,375
19 Beacon Pointe Advisors, LLC 0.06% of their portfolio NEWPORT BEACH, CA 85,41185.4k $8.7m $8.7m 0.06% Added +2.6k +2,566
20 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 81,23381.2k $8.3m $8.3m 0.01% Added +37.6k +37,594
21 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 77,58177.6k $7.9m $7.9m 0.00% Added +53.5k +53,500
22 Capital Investment Services of America, Inc. 0.73% of their portfolio MILWAUKEE, WI 76,42076.4k $7.8m $7.8m 0.73% Added +50 +50
23 Hughes Financial Services, LLC 1.15% of their portfolio HERNDON, VA 72,14772.1k $7.3m $7.3m 1.15% Added +1.2k +1,158
24 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 70,41870.4k $7.2m $7.2m 0.00% Added +6.5k +6,510
25 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 67,35467.4k $6.8m $6.8m 0.00% Added +24.0k +24,035
26 Firestone Capital Management 1.18% of their portfolio SOUTH MIAMI, FL 54,69254.7k $5.6m $5.6m 1.18% Added +7.1k +7,082
27 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 52,13352.1k $5.3m $5.3m 0.00% Added +11.1k +11,079
28 Topsail Wealth Management, LLC 0.76% of their portfolio CHARLOTTE, NC 51,10551.1k $5.2m $5.2m 0.76% Added +3 +3
29 Apella Capital, LLC 0.10% of their portfolio WEST HARTFORD, CT 50,46250.5k $5.1m $5.1m 0.10% New
30 Legacy PCG, LLC 3.10% of their portfolio IRVINE, CA 49,22649.2k $5.0m $5.0m 3.10% Reduced -1.3k -1,330
31 ECLECTIC ASSOCIATES INC /ADV 0.78% of their portfolio FULLERTON, CA 48,97449.0k $5.0m $5.0m 0.78% Added +10.0k +9,951
32 Ashton Thomas Private Wealth, LLC 0.12% of their portfolio SCOTTSDALE, AZ 46,44946.4k $4.7m $4.7m 0.12% Added +13.1k +13,134
33 Altiora Financial Group, LLC 0.77% of their portfolio LEBANON, OH 44,15144.2k $4.5m $4.5m 0.77% Added +3.4k +3,420
34 Dakota Wealth Management 0.08% of their portfolio PALM BEACH GARDENS, FL 44,07944.1k $4.5m $4.5m 0.08% Added +9.1k +9,129
35 MAYPORT, LLC 0.85% of their portfolio NEWTON, MA 41,33741.3k $4.2m $4.2m 0.85% Added +10.9k +10,868
36 IF Advisors, LLC 3.30% of their portfolio SAN ANTONIO, TX 40,00040.0k $4.1m $4.1m 3.30% First filing
37 TCI Wealth Advisors, Inc. 0.22% of their portfolio Tucson, AZ 39,64939.6k $4.0m $4.0m 0.22% Added +149 +149
38 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 39,44139.4k $4.0m $4.0m 0.01% Added +2.5k +2,493
39 UBS Group AG 0.00% of their portfolio ZURICH, V8 39,37239.4k $4.0m $4.0m 0.00% Added +770 +770
40 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 36,03636.0k $3.7m $3.7m 0.02% Added +9.8k +9,835
41 Financial Engines Advisors L.L.C. 0.01% of their portfolio SANTA CLARA, CA 33,34433.3k $3.4m $3.4m 0.01% Reduced -529 -529
42 Haven Private, LLC 1.45% of their portfolio ORLANDO, FL 32,72432.7k $3.3m $3.3m 1.45% Added +794 +794
43 Sterling Financial Planning, Inc. 0.97% of their portfolio SPARTA, NJ 31,81031.8k $3.2m $3.2m 0.97% Added +1.7k +1,666
44 GENESIS PRIVATE WEALTH, LLC 0.97% of their portfolio ASHBURN, VA 30,81030.8k $3.1m $3.1m 0.97% Added +590 +590
45 BlueChip Wealth Advisors LLC 1.30% of their portfolio Milton, GA 30,42630.4k $3.1m $3.1m 1.30% Added +4.0k +3,978
46 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 29,88129.9k $3.0m $3.0m 0.00% Added +12.8k +12,828
47 GenTrust, LLC 0.13% of their portfolio MIAMI, FL 28,46328.5k $2.9m $2.9m 0.13% Added +6.3k +6,273
48 Aspire Private Capital, LLC 0.62% of their portfolio Cornelius, NC 27,56227.6k $2.8m $2.8m 0.62% Reduced -21.7k -21,739
49 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 26,92726.9k $2.7m $2.7m 0.00% Added +25.8k +25,766
50 S.A. Mason LLC 1.07% of their portfolio HOLLAND, MI 26,60626.6k $2.7m $2.7m 1.07% New
51 Burton Enright Welch 0.37% of their portfolio WALNUT CREEK, CA 25,98926.0k $2.6m $2.6m 0.37% Added +2.6k +2,616
52 Evanson Asset Management, LLC 0.14% of their portfolio CARMEL, CA 25,46825.5k $2.6m $2.6m 0.14% Reduced -325 -325
53 Haverford Trust Co 0.02% of their portfolio Radnor, PA 24,55024.6k $2.5m $2.5m 0.02% Added +4.9k +4,915
54 Clearstead Advisors, LLC 0.03% of their portfolio CLEVELAND, OH 24,18024.2k $2.5m $2.5m 0.03% Added +6.9k +6,879
55 BROWN WEALTH MANAGEMENT, LLC 0.62% of their portfolio NAPERVILLE, IL 23,31023.3k $2.4m $2.4m 0.62% Added +614 +614
56 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 23,19523.2k $2.4m $2.4m 0.00% New
57 Atria Investments, Inc 0.03% of their portfolio Charlotte, NC 21,98522.0k $2.2m $2.2m 0.03% Reduced -4.2k -4,235
58 Silver Oak Advisory Group, Inc. 1.01% of their portfolio PORTLAND, OR 21,94221.9k $2.2m $2.2m 1.01% Added +56 +56
59 Frankly Finances, LLC 2.05% of their portfolio WINTER PARK, FL 21,26821.3k $2.2m $2.2m 2.05% First filing
60 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 21,08221.1k $2.1m $2.1m 0.00% Added +10.6k +10,603
61 JACOBSON & SCHMITT ADVISORS, LLC 0.36% of their portfolio MIDDLETON, WI 20,76720.8k $2.1m $2.1m 0.36% Added +599 +599
62 HB Wealth Management, LLC 0.01% of their portfolio Atlanta, GA 20,34120.3k $2.1m $2.1m 0.01% Added +860 +860
63 Eaton-Cambridge Inc. 0.67% of their portfolio PHOENIX, AZ 20,10420.1k $2.0m $2.0m 0.67% Added +6.7k +6,662
64 Diversified Portfolios, Inc. 0.17% of their portfolio Bloomfield Hills, MI 19,90419.9k $2.0m $2.0m 0.17% Added +347 +347
65 DAYMARK WEALTH PARTNERS, LLC 0.06% of their portfolio CINCINNATI, OH 19,25919.3k $2.0m $2.0m 0.06% Added +5.8k +5,792
66 Allodium Investment Consultants, LLC 0.98% of their portfolio MINNEAPOLIS, MN 19,03619.0k $1.9m $1.9m 0.98% Added +3.2k +3,159
67 Passive Capital Management, LLC. 0.59% of their portfolio BALTIMORE, MD 18,63918.6k $1.9m $1.9m 0.59% Added +1.4k +1,433
68 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 18,39918.4k $1.9m $1.9m 0.00% Added +2.0k +1,968
69 Choate Investment Advisors 0.04% of their portfolio BOSTON, MA 17,81517.8k $1.8m $1.8m 0.04% Added +152 +152
70 Modern Wealth Management, LLC 0.03% of their portfolio KANSAS CITY, MO 17,46817.5k $1.8m $1.8m 0.03% Added +1.2k +1,218
71 Whitegate Investment Counselors, Inc. 0.55% of their portfolio CONCORD, NH 17,38017.4k $1.8m $1.8m 0.55% Unchanged
72 Avior Wealth Management, LLC 0.05% of their portfolio OMAHA, NE 16,93516.9k $1.7m $1.7m 0.05% Added +7.0k +6,995
73 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 16,29616.3k $1.7m $1.7m 0.02% Added +6.0k +5,952
74 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 16,14616.1k $1.6m $1.6m 0.00% Reduced -16.0k -16,044
75 EverSource Wealth Advisors, LLC 0.06% of their portfolio BIRMINGHAM, AL 15,72815.7k $1.6m $1.6m 0.06% Added +2.7k +2,693
76 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 15,01015.0k $1.5m $1.5m 0.01% Added +1.0k +1,027
77 Single Point Partners, LLC 0.29% of their portfolio BOSTON, MA 14,53714.5k $1.5m $1.5m 0.29% Added +710 +710
78 Laurel Wealth Advisors LLC 0.19% of their portfolio CHARLOTTE, NC 14,48314.5k $1.5m $1.5m 0.19% Added +6 +6
79 CARDIFF PARK ADVISORS, LLC 0.12% of their portfolio SAN MARCOS, CA 14,11514.1k $1.4m $1.4m 0.12% Added +3 +3
80 C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.08% of their portfolio Westlake, OH 13,96514.0k $1.4m $1.4m 0.08% Added +1.4k +1,375
81 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 13,94013.9k $1.4m $1.4m 0.01% Unchanged
82 Arax Advisory Partners 0.04% of their portfolio NEW YORK, NY 13,92513.9k $1.4m $1.4m 0.04% New
83 OneDigital Investment Advisors LLC 0.01% of their portfolio OVERLAND PARK, KS 13,91613.9k $1.4m $1.4m 0.01% Added +339 +339
84 Integrity Investment Advisors, LLC 0.77% of their portfolio FORT COLLINS, CO 13,78513.8k $1.4m $1.4m 0.77% Added +636 +636
85 BURNEY CO/ 0.04% of their portfolio RESTON, VA 12,25112.3k $1.2m $1.2m 0.04% Added +1.1k +1,086
86 SwitchPoint Financial Planning, LLC 0.84% of their portfolio LEHI, UT 11,85011.8k $1.2m $1.2m 0.84% Reduced -101 -101
87 FLAGSHIP HARBOR ADVISORS, LLC 0.05% of their portfolio BOSTON, MA 11,15611.2k $1.1m $1.1m 0.05% Added +1.8k +1,816
88 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 11,02511.0k $1.1m $1.1m 0.00% Reduced -25 -25
89 Ballast Rock Private Wealth LLC 0.70% of their portfolio CHARLESTON, SC 10,96911.0k $1.1m $1.1m 0.70% First filing
90 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 10,85410.9k $1.1m $1.1m 0.00% Added +1.9k +1,895
91 Alhambra Investment Management LLC 0.51% of their portfolio PALMETTO BAY, FL 10,80010.8k $1.1m $1.1m 0.51% Unchanged
92 KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio FORT WORTH, TX 10,79010.8k $1.1m $1.1m 0.00% Unchanged
93 Sunesis Advisors, LLC 0.49% of their portfolio OVERLAND PARK, KS 10,67410.7k $1.1m $1.1m 0.49% Unchanged
94 Planning Center, Inc. 0.11% of their portfolio MOLINE, IL 10,66410.7k $1.1m $1.1m 0.11% Unchanged
95 TAGStone Capital, Inc. 0.39% of their portfolio CHARLOTTE, NC 10,37310.4k $1.1m $1.1m 0.39% Reduced -765 -765
96 Tribridge Partners Financial LLC 0.43% of their portfolio COLUMBIA, MD 10,16310.2k $1.0m $1.0m 0.43% Added +2.3k +2,318
97 Pillar Financial Advisors, LLC 0.59% of their portfolio LOUISVILLE, KY 9,6989.7k $985.1k $985.1k 0.59% Added +1.2k +1,177
98 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 9,5439.5k $969.3k $969.3k 0.01% Reduced -38 -38
99 Rothschild Wealth LLC 0.09% of their portfolio OAK BROOK, IL 9,3579.4k $950.4k $950.4k 0.09% New
100 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 9,2959.3k $944.0k $944.0k 0.00% Reduced -5.8k -5,808