Vault-13

VANGUARD BD INDEX FDS BLV

LONG TERM BOND · ETP · CUSIP 921937793

365 institutional holders -8 vs Q1 2025
48,474,80148.5m shares reported held*
$3.4bnreported value*
38 new 151 added 131 reduced 45 sold out net bought ≈ $61.8m (+801.3k 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 ($122.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $69.66. Options: 2 managers hold calls ($2.8m notional), 2 hold puts ($771.9k).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 252Q4 22: 271Q1 23: 281Q2 23: 310Q3 23: 303Q4 23: 368Q1 24: 362Q2 24: 368Q3 24: 365Q4 24: 378Q1 25: 373Q2 25: 365365Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022252
Q4 2022271
Q1 2023281
Q2 2023310
Q3 2023303
Q4 2023368
Q1 2024362
Q2 2024368
Q3 2024365
Q4 2024378
Q1 2025373
Q2 2025365

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 166 bought or addedQ3 23: 130 cut or sold outQ4 23: 201 bought or addedQ4 23: 124 cut or sold outQ4 23Q1 24: 213 bought or addedQ1 24: 149 cut or sold outQ2 24: 197 bought or addedQ2 24: 152 cut or sold outQ2 24Q3 24: 218 bought or addedQ3 24: 149 cut or sold outQ4 24: 189 bought or addedQ4 24: 164 cut or sold outQ4 24Q1 25: 188 bought or addedQ1 25: 176 cut or sold outQ2 25: 189 bought or addedQ2 25: 176 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023166130
Q4 2023201124
Q1 2024213149
Q2 2024197152
Q3 2024218149
Q4 2024189164
Q1 2025188176
Q2 2025189176

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ3 24 calls: $2.0mQ3 24 puts: $11.8mQ3 24P/C 5.79Q4 24 calls: $1.2mQ4 24 puts: $1.9mQ4 24P/C 1.67Q1 25 calls: $4.9mQ1 25 puts: $809.8kQ1 25P/C 0.16Q2 25 calls: $2.8mQ2 25 puts: $771.9kQ2 25P/C 0.27
Numbers
QuarterCallsPutsP/C
Q3 2024$2.0m$11.8m5.79
Q4 2024$1.2m$1.9m1.67
Q1 2025$4.9m$809.8k0.16
Q2 2025$2.8m$771.9k0.27

Biggest buyers

ROYAL BANK OF CANADA Added +1,064,056+1.1m
LPL Financial LLC Added +934,229+934.2k
Karpus Management, Inc. Added +819,674+819.7k
EXCHANGE TRADED CONCEPTS, LLC New +742,706+742.7k
INCOME RESEARCH & MANAGEMENT New +720,997+721.0k
Metropolitan Life Insurance Co/NY New +599,208+599.2k
ENVESTNET ASSET MANAGEMENT INC Added +552,528+552.5k
Trilogy Capital Inc. New +424,610+424.6k
Penserra Capital Management LLC New +324,294+324.3k
Cetera Investment Advisers Added +223,557+223.6k

Biggest sellers

Beacon Capital Management, Inc. Reduced -4,749,724-4.7m
AMERIPRISE FINANCIAL INC Reduced -303,823-303.8k
Atria Wealth Solutions, Inc. Reduced -181,375-181.4k
BANK OF AMERICA CORP /DE/ Reduced -170,777-170.8k
JANE STREET GROUP, LLC Sold out -148,240-148.2k
Envestnet Portfolio Solutions, Inc. Reduced -139,376-139.4k
PFG Advisors Sold out -109,662-109.7k
MORGAN STANLEY Reduced -97,141-97.1k
Waterford Advisors, LLC Reduced -86,848-86.8k
CITADEL ADVISORS LLC Sold out -84,773-84.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.7m24.3k shares
CITADEL ADVISORS LLC Added $1.2m16.6k shares

Biggest puts

CITADEL ADVISORS LLC Reduced $479.8k6.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $292.1k4.2k 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.20% of their portfolio Berwyn, PA 10,051,57610.1m $699.0m $699.0m 0.20% Added +552.5k +552,528
2 LPL Financial LLC 0.09% of their portfolio FORT MILL, SC 3,675,6523.7m $255.6m $255.6m 0.09% Added +934.2k +934,229
3 LINCOLN NATIONAL CORP 5.07% of their portfolio RADNOR, PA 2,402,8022.4m $167.1m $167.1m 5.07% Added +22.0k +22,024
4 Envestnet Portfolio Solutions, Inc. 0.58% of their portfolio BERWYN, PA 2,255,4792.3m $156.8m $156.8m 0.58% Reduced -139.4k -139,376
5 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 2,084,5442.1m $145.0m $145.0m 0.01% Added +1.1m +1,064,056
6 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 2,009,3652.0m $139.7m $139.7m 0.03% Reduced -42.9k -42,870
7 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,345,9231.3m $93.6m $93.6m 0.02% Reduced -1.7k -1,672
8 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,088,6761.1m $75.7m $75.7m 0.01% Added +33.4k +33,362
9 Karpus Management, Inc. 2.09% of their portfolio Pittsford, NY 931,254931.3k $64.8m $64.8m 2.09% Added +819.7k +819,674
10 Kestra Advisory Services, LLC 0.31% of their portfolio AUSTIN, TX 911,555911.6k $63.4m $63.4m 0.31% Added +20.8k +20,754
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 877,134877.1k $61.0m $61.0m 0.00% Reduced -97.1k -97,141
12 Cetera Investment Advisers 0.10% of their portfolio SCHAUMBURG, IL 838,604838.6k $58.3m $58.3m 0.10% Added +223.6k +223,557
13 EXCHANGE TRADED CONCEPTS, LLC 0.66% of their portfolio Oklahoma City, OK 742,706742.7k $51.6m $51.6m 0.66% New
14 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 736,200736.2k $51.2m $51.2m 0.00% Reduced -170.8k -170,777
15 INCOME RESEARCH & MANAGEMENT 13.40% of their portfolio Boston, MA 720,997721.0k $50.1m $50.1m 13.40% New
16 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 707,731707.7k $49.2m $49.2m 0.01% Reduced -303.8k -303,823
17 Koss-Olinger Consulting, LLC 3.57% of their portfolio GAINESVILLE, FL 624,928624.9k $43.5m $43.5m 3.57% Reduced -59.7k -59,712
18 Cambridge Investment Research Advisors, Inc. 0.13% of their portfolio FAIRFIELD, IA 616,093616.1k $42.8m $42.8m 0.13% Reduced -2.1k -2,140
19 Beacon Capital Management, Inc. 2.18% of their portfolio DAYTON, OH 609,558609.6k $42.4m $42.4m 2.18% Reduced -4.7m -4,749,724
20 OSAIC HOLDINGS, INC. 0.08% of their portfolio SCOTTSDALE, AZ 609,056609.1k $42.4m $42.4m 0.08% Added +58.9k +58,948
21 Metropolitan Life Insurance Co/NY 12.45% of their portfolio New York, NY 599,208599.2k $41.7m $41.7m 12.45% New
22 Greystone Financial Group, LLC 5.72% of their portfolio BLOOMFIELD HILLS, MI 499,611499.6k $34.7m $34.7m 5.72% Added +216.6k +216,561
23 Janney Montgomery Scott LLC 0.08% of their portfolio PHILADELPHIA, PA 460,990461.0k $32.1m $32.1m 0.08% Added +4.3k +4,251
24 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 443,228443.2k $30.8m $30.8m 0.00% Added +954 +954
25 Trilogy Capital Inc. 1.44% of their portfolio IRVINE, CA 424,610424.6k $29.5m $29.5m 1.44% New
26 PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio DES MOINES, IA 363,108363.1k $25.3m $25.3m 0.01% Added +139 +139
27 Carolina Wealth Advisors, LLC 12.15% of their portfolio MYRTLE BEACH, SC 353,977354.0k $24.6m $24.6m 12.15% Reduced -23.7k -23,747
28 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 347,170347.2k $24.1m $24.1m 0.00% Reduced -32.9k -32,890
29 Penserra Capital Management LLC 0.31% of their portfolio ORINDA, CA 324,294324.3k $22.6m $22.6m 0.31% New
30 US BANCORP \DE\ 0.03% of their portfolio MINNEAPOLIS, MN 312,139312.1k $21.7m $21.7m 0.03% Reduced -6.8k -6,848
31 Capital Advisors Wealth Management, LLC 3.06% of their portfolio YAKIMA, WA 279,916279.9k $19.5m $19.5m 3.06% Added +48.9k +48,892
32 REGIONS FINANCIAL CORP 0.13% of their portfolio BIRMINGHAM, AL 269,599269.6k $18.7m $18.7m 0.13% Reduced -1.3k -1,284
33 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 255,342255.3k $17.8m $17.8m 0.05% Reduced -1.2k -1,200
34 ETF Portfolio Partners, Inc. 4.77% of their portfolio LEAWOOD, KS 247,486247.5k $17.2m $17.2m 4.77% Reduced -17.9k -17,917
35 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 242,310242.3k $16.9m $16.9m 0.01% Reduced -52.4k -52,418
36 Orion Porfolio Solutions, LLC 0.13% of their portfolio OMAHA, NE 218,564218.6k $15.2m $15.2m 0.13% Added +13.9k +13,917
37 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 206,497206.5k $14.4m $14.4m 0.02% Added +10.8k +10,781
38 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 201,580201.6k $14.0m $14.0m 0.01% Reduced -41.1k -41,149
39 Betterment LLC 0.03% of their portfolio NEW YORK, NY 195,623195.6k $13.6m $13.6m 0.03% Added +6.7k +6,694
40 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 191,712191.7k $13.3m $13.3m 0.02% Reduced -10.0k -10,031
41 Clark Asset Management, LLC 1.75% of their portfolio STRATHAM, NH 185,096185.1k $12.9m $12.9m 1.75% Added +15.9k +15,939
42 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 178,831178.8k $12.4m $12.4m 0.01% Reduced -39.8k -39,816
43 CreativeOne Wealth, LLC 0.33% of their portfolio OVERLAND PARK, KS 178,643178.6k $12.4m $12.4m 0.33% Reduced -52.2k -52,184
44 NewEdge Advisors, LLC 0.06% of their portfolio NEW ORLEANS, LA 174,874174.9k $12.2m $12.2m 0.06% Added +5.9k +5,901
45 WINCAP FINANCIAL LLC 8.83% of their portfolio BOSTON, MA 158,021158.0k $11.0m $11.0m 8.83% Added +36.8k +36,806
46 TD PRIVATE CLIENT WEALTH LLC 0.26% of their portfolio NEW YORK, NY 153,411153.4k $10.7m $10.7m 0.26% Added +11.0k +11,041
47 NYL Investors LLC 2.68% of their portfolio NEW YORK, NY 139,587139.6k $9.7m $9.7m 2.68% Added +3.2k +3,187
48 Trinity Legacy Partners, LLC 2.22% of their portfolio HOUSTON, TX 135,081135.1k $9.1m $9.1m 2.22% Added +2.3k +2,306
49 Platt Investment Counsel, LLC 8.76% of their portfolio CARY, NC 132,612132.6k $9.2m $9.2m 8.76% Added +42.5k +42,464
50 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 132,608132.6k $9.2m $9.2m 0.02% Added +58.4k +58,378
51 GREENUP STREET WEALTH MANAGEMENT LLC 1.59% of their portfolio OVERLAND PARK, KS 131,355131.4k $9.1m $9.1m 1.59% Reduced -5.3k -5,274
52 UBS Group AG 0.00% of their portfolio ZURICH, V8 129,416129.4k $9.0m $9.0m 0.00% Reduced -206 -206
53 Evergreen Wealth Management, LLC 5.02% of their portfolio Williamston, MI 128,657128.7k $8.9m $8.9m 5.02% Added +22.7k +22,736
54 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 123,436123.4k $8.6m $8.6m 0.01% Reduced -10.6k -10,582
55 Evolution Advisers, Inc. 4.17% of their portfolio RICHMOND, VA 122,333122.3k $8.5m $8.5m 4.17% Added +2.7k +2,665
56 Atria Investments, Inc 0.10% of their portfolio Charlotte, NC 120,068120.1k $8.3m $8.3m 0.10% Added +27.8k +27,777
57 Summit Wealth Group, LLC 2.11% of their portfolio WHITE RIVER JUNCTION, VT 118,158118.2k $8.2m $8.2m 2.11% Added +104.8k +104,823
58 EverSource Wealth Advisors, LLC 0.36% of their portfolio BIRMINGHAM, AL 113,983114.0k $7.9m $7.9m 0.36% Reduced -849 -849
59 Strong Tower Advisory Services 1.53% of their portfolio MINNEAPOLIS, MN 111,270111.3k $7.7m $7.7m 1.53% New
60 One Wealth Map LLC 4.08% of their portfolio LAS VEGAS, NV 109,019109.0k $7.4m $7.4m 4.08% Added +11.2k +11,240
61 PEAPACK GLADSTONE FINANCIAL CORP 0.10% of their portfolio BEDMINSTER, NJ 103,800103.8k $7.2m $7.2m 0.10% Reduced -42.3k -42,294
62 Parker Financial LLC 2.90% of their portfolio SILVERDALE, WA 96,56896.6k $6.7m $6.7m 2.90% Added +4.8k +4,797
63 Idaho Trust Co 2.34% of their portfolio BOISE, ID 94,27394.3k $6.6m $6.6m 2.34% Added +1.8k +1,788
64 &PARTNERS 0.05% of their portfolio NASHVILLE, TN 92,68292.7k $6.5m $6.5m 0.05% Added +8.1k +8,135
65 PFW Advisors LLC 1.96% of their portfolio ATLANTA, GA 91,51491.5k $6.4m $6.4m 1.96% Reduced -954 -954
66 Bay Harbor Wealth Management, LLC 1.82% of their portfolio Hunt Valley, MD 90,24990.2k $6.3m $6.3m 1.82% Reduced -1.2k -1,235
67 FLAGSTAR SECURITIES, INC 1.73% of their portfolio New York, NY 89,66089.7k $6.2m $6.2m 1.73% Added +8.3k +8,307
68 MassMutual Private Wealth & Trust, FSB 0.16% of their portfolio Windsor, CT 87,60987.6k $6.1m $6.1m 0.16% Added +4.4k +4,399
69 SigFig Wealth Management, LLC 0.19% of their portfolio SAN FRANCISCO, CA 84,74784.7k $5.8m $5.8m 0.19% Added +1.2k +1,196
70 Norris Financial Group, LLC 2.35% of their portfolio GREENVILLE, SC 82,48082.5k $5.7m $5.7m 2.35% New
71 CoreCap Advisors, LLC 0.21% of their portfolio SOUTHFIELD, MI 76,29976.3k $5.3m $5.3m 0.21% Added +1.7k +1,709
72 Mutual Advisors, LLC 0.13% of their portfolio OMAHA, NE 74,39774.4k $5.1m $5.1m 0.13% Added +9.9k +9,950
73 World Investment Advisors 0.12% of their portfolio LINCROFT, NJ 74,12774.1k $5.2m $5.2m 0.12% Reduced -7.7k -7,716
74 Leeward Financial Partners, LLC 1.60% of their portfolio Bellevue, WA 72,57372.6k $5.0m $5.0m 1.60% Reduced -7.3k -7,319
75 C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.32% of their portfolio Westlake, OH 71,21771.2k $5.0m $5.0m 0.32% Added +3.5k +3,536
76 Brookstone Capital Management 0.06% of their portfolio WHEATON, IL 71,05171.1k $4.9m $4.9m 0.06% Added +6.2k +6,167
77 ASSETMARK, INC 0.01% of their portfolio CONCORD, CA 69,93969.9k $4.9m $4.9m 0.01% Reduced -19.9k -19,923
78 Sellwood Investment Partners LLC 2.29% of their portfolio PORTLAND, OR 68,88868.9k $4.8m $4.8m 2.29% Added +4.4k +4,442
79 Atria Wealth Solutions, Inc. 0.11% of their portfolio NEW YORK, NY 68,81768.8k $4.8m $4.8m 0.11% Reduced -181.4k -181,375
80 Beacon Harbor Wealth Advisors, Inc. 1.19% of their portfolio VIRGINIA BEACH, VA 68,46968.5k $4.8m $4.8m 1.19% Reduced -6.8k -6,799
81 LIBERTY WEALTH MANAGEMENT LLC 0.73% of their portfolio OAKLAND, CA 66,52166.5k $4.6m $4.6m 0.73% Added +1.3k +1,303
82 MGO ONE SEVEN LLC 0.15% of their portfolio Beachwood, OH 66,44666.4k $4.6m $4.6m 0.15% Reduced -458 -458
83 Farther Finance Advisors, LLC 0.09% of their portfolio SAN FRANCISCO, CA 65,77065.8k $4.6m $4.6m 0.09% Added +8.3k +8,286
84 OAK HILL WEALTH ADVISORS, LLC 0.92% of their portfolio LANSDOWNE, VA 65,19565.2k $4.4m $4.4m 0.92% Added +6.0k +6,014
85 AVANTAX ADVISORY SERVICES, INC. 0.02% of their portfolio DALLAS, TX 65,17965.2k $4.5m $4.5m 0.02% Added +14.6k +14,582
86 Grey Fox Wealth Advisors, LLC 1.06% of their portfolio ROCKLAND, DE 64,15564.2k $4.5m $4.5m 1.06% Added +4.2k +4,179
87 SBI Securities Co., Ltd. 0.13% of their portfolio TOKYO, M0 63,14563.1k $4.4m $4.4m 0.13% Reduced -2.9k -2,857
88 Sovereign Financial Group, Inc. 0.89% of their portfolio STAMFORD, CT 61,99962.0k $4.3m $4.3m 0.89% Added +1.7k +1,664
89 Rochester Wealth Strategies, LLC 3.03% of their portfolio ROCHESTER, MI 60,81860.8k $4.2m $4.2m 3.03% Reduced -13.5k -13,470
90 Aspire Private Capital, LLC 0.96% of their portfolio Cornelius, NC 59,56059.6k $4.1m $4.1m 0.96% Reduced -2.7k -2,712
91 Arcadia Wealth Management, LLC 1.78% of their portfolio Manchester, NH 58,68558.7k $4.1m $4.1m 1.78% Added +3.5k +3,465
92 Main Line Retirement Advisors, LLC 2.32% of their portfolio WHITEFISH, MT 58,49458.5k $4.1m $4.1m 2.32% Added +2.0k +2,046
93 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 58,10558.1k $4.0m $4.0m 0.00% Added +8.9k +8,898
94 J.W. COLE ADVISORS, INC. 0.08% of their portfolio TAMPA, FL 56,91656.9k $4.0m $4.0m 0.08% Added +33.3k +33,332
95 Womack Financial LLC 3.21% of their portfolio DALLAS, TX 55,47455.5k $3.9m $3.9m 3.21% Reduced -287 -287
96 First Heartland Consultants, Inc. 0.30% of their portfolio LAKE ST. LOUIS, MO 48,94048.9k $3.4m $3.4m 0.30% Added +1.3k +1,318
97 Concurrent Investment Advisors, LLC 0.07% of their portfolio Tampa, FL 48,49448.5k $3.4m $3.4m 0.07% Added +4.5k +4,516
98 Elevated Capital Advisors, LLC 0.93% of their portfolio SANDY, UT 46,95447.0k $3.3m $3.3m 0.93% Unchanged
99 Secure Asset Management, LLC 0.61% of their portfolio Troy, MI 46,94846.9k $3.3m $3.3m 0.61% New
100 Level Financial Advisors 1.01% of their portfolio EAST AMHERST, NY 46,77346.8k $3.3m $3.3m 1.01% Added +4.0k +3,981