Vault-13

VANGUARD BD INDEX FDS BIV

INTERMED TERM · ETP · CUSIP 921937819

928 institutional holders -8 vs Q4 2024
187,645,132187.6m shares reported held*
$14.4bnreported value*
63 new 427 added 311 reduced 66 sold out net bought ≈ $1.1bn (+13.3m 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 ($16.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $76.55. Options: 1 managers hold calls ($658.5k notional), 1 hold puts ($459.4k).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 659Q4 22: 690Q1 23: 707Q2 23: 728Q3 23: 727Q4 23: 827Q1 24: 819Q2 24: 832Q3 24: 858Q4 24: 936Q1 25: 928928Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022659
Q4 2022690
Q1 2023707
Q2 2023728
Q3 2023727
Q4 2023827
Q1 2024819
Q2 2024832
Q3 2024858
Q4 2024936
Q1 2025928

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 23: 376 bought or addedQ2 23: 277 cut or sold outQ3 23: 377 bought or addedQ3 23: 318 cut or sold outQ3 23Q4 23: 395 bought or addedQ4 23: 337 cut or sold outQ1 24: 448 bought or addedQ1 24: 315 cut or sold outQ1 24Q2 24: 454 bought or addedQ2 24: 324 cut or sold outQ3 24: 510 bought or addedQ3 24: 278 cut or sold outQ3 24Q4 24: 508 bought or addedQ4 24: 295 cut or sold outQ1 25: 490 bought or addedQ1 25: 377 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023376277
Q3 2023377318
Q4 2023395337
Q1 2024448315
Q2 2024454324
Q3 2024510278
Q4 2024508295
Q1 2025490377

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ2 24 calls: $441.9kQ2 24 puts: $988.5kQ2 24P/C 2.24Q3 24 calls: $313.5kQ3 24 puts: $4.2mQ3 24P/C 13.29Q4 24 calls: $328.8kQ4 24 puts: $0Q4 24P/C 0.00Q1 25 calls: $658.5kQ1 25 puts: $459.4kQ1 25P/C 0.70
Numbers
QuarterCallsPutsP/C
Q2 2024$441.9k$988.5k2.24
Q3 2024$313.5k$4.2m13.29
Q4 2024$328.8k$00.00
Q1 2025$658.5k$459.4k0.70

Biggest buyers

Beacon Capital Management, Inc. Added +5,191,374+5.2m
ENVESTNET ASSET MANAGEMENT INC Added +1,238,612+1.2m
EP Wealth Advisors, LLC Added +819,212+819.2k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +772,609+772.6k
Zhang Financial LLC Added +479,115+479.1k
Everhart Financial Group, Inc. Added +457,120+457.1k
True Link Financial Advisors, LLC Added +449,895+449.9k
World Investment Advisors Added +397,022+397.0k
Family Investment Center, Inc. Added +383,368+383.4k
Geneos Wealth Management Inc. Added +360,820+360.8k

Biggest sellers

American Trust Sold out -926,492-926.5k
OSAIC HOLDINGS, INC. Reduced -503,917-503.9k
Williams Financial, LLC Sold out -308,672-308.7k
JANE STREET GROUP, LLC Sold out -258,107-258.1k
TIAA TRUST, NATIONAL ASSOCIATION Reduced -240,825-240.8k
CITADEL ADVISORS LLC Sold out -218,734-218.7k
Austin Private Wealth, LLC Reduced -183,024-183.0k
Keudell/Morrison Wealth Management Reduced -173,546-173.5k
TOWNSQUARE CAPITAL LLC Reduced -128,873-128.9k
BROWN WEALTH MANAGEMENT, LLC Reduced -128,315-128.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $658.5k8.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $459.4k6.0k 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.45% of their portfolio Berwyn, PA 18,092,41018.1m $1.4bn $1.4bn 0.45% Added +1.2m +1,238,612
2 WELLS FARGO & COMPANY/MN 0.23% of their portfolio SAN FRANCISCO, CA 12,254,68012.3m $938.3m $938.3m 0.23% Reduced -1.5k -1,534
3 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.54% of their portfolio MILWAUKEE, WI 8,645,5848.6m $662.0m $662.0m 0.54% Added +341.3k +341,298
4 GOLDMAN SACHS GROUP INC 0.12% of their portfolio NEW YORK, NY 7,972,4468.0m $610.5m $610.5m 0.12% Added +241.3k +241,266
5 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 6,490,9696.5m $497.0m $497.0m 0.04% Added +215.0k +215,028
6 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 6,256,4396.3m $479.1m $479.1m 0.03% Added +202.4k +202,408
7 Beacon Capital Management, Inc. 22.73% of their portfolio DAYTON, OH 6,022,9456.0m $456.7m $456.7m 22.73% Added +5.2m +5,191,374
8 EP Wealth Advisors, LLC 3.30% of their portfolio TORRANCE, CA 5,394,5205.4m $413.1m $413.1m 3.30% Added +819.2k +819,212
9 LPL Financial LLC 0.13% of their portfolio FORT MILL, SC 4,494,2504.5m $344.1m $344.1m 0.13% Reduced -42.7k -42,692
10 True Link Financial Advisors, LLC 25.16% of their portfolio SAN FRANCISCO, CA 4,402,8234.4m $337.1m $337.1m 25.16% Added +449.9k +449,895
11 AMERIPRISE FINANCIAL INC 0.08% of their portfolio MINNEAPOLIS, MN 3,930,8803.9m $300.9m $300.9m 0.08% Added +145.6k +145,566
12 Baird Financial Group, Inc. 0.50% of their portfolio MILWAUKEE, WI 3,375,7373.4m $258.5m $258.5m 0.50% Added +174.0k +173,957
13 MATHER GROUP, LLC. 2.69% of their portfolio CHICAGO, IL 3,043,2433.0m $233.0m $233.0m 2.69% Added +133.7k +133,665
14 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.91% of their portfolio IRVING, TX 2,905,9652.9m $222.5m $222.5m 1.91% Added +239.5k +239,473
15 Envestnet Portfolio Solutions, Inc. 0.69% of their portfolio BERWYN, PA 2,338,5502.3m $179.1m $179.1m 0.69% Added +98.5k +98,543
16 OSAIC HOLDINGS, INC. 0.36% of their portfolio SCOTTSDALE, AZ 2,092,2522.1m $160.2m $160.2m 0.36% Reduced -503.9k -503,917
17 LINCOLN NATIONAL CORP 4.98% of their portfolio RADNOR, PA 2,018,8682.0m $154.6m $154.6m 4.98% Added +24.6k +24,630
18 TIAA TRUST, NATIONAL ASSOCIATION 0.46% of their portfolio CHARLOTTE, NC 1,921,9281.9m $147.2m $147.2m 0.46% Reduced -240.8k -240,825
19 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,909,6701.9m $146.2m $146.2m 0.03% Added +113.2k +113,205
20 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.26% of their portfolio PLYMOUTH, MN 1,762,0451.8m $134.9m $134.9m 0.26% Added +53.5k +53,494
21 JONES FINANCIAL COMPANIES LLLP 0.11% of their portfolio DES PERES, MO 1,658,9801.7m $126.8m $126.8m 0.11% Added +150.2k +150,161
22 Mariner, LLC 0.21% of their portfolio Overland Park, KS 1,614,4831.6m $123.6m $123.6m 0.21% Added +43.0k +43,029
23 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 1,601,0971.6m $122.6m $122.6m 0.05% Added +204.1k +204,101
24 FMR LLC 0.01% of their portfolio BOSTON, MA 1,600,7331.6m $122.6m $122.6m 0.01% Reduced -89.7k -89,684
25 Retirement Investment Advisors, Inc. 12.10% of their portfolio OKLAHOMA CITY, OK 1,561,2291.6m $119.5m $119.5m 12.10% Added +122.4k +122,412
26 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,483,3931.5m $113.6m $113.6m 0.03% Added +324.2k +324,220
27 Diana Davis Spencer Foundation 37.94% of their portfolio BETHESDA, MD 1,426,0001.4m $109.2m $109.2m 37.94% Unchanged
28 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,328,6491.3m $101.7m $101.7m 0.02% Added +8.7k +8,683
29 Efficient Advisors, LLC 6.40% of their portfolio BEAVERTON, OR 1,283,3021.3m $98.3m $98.3m 6.40% Added +2.6k +2,556
30 COMERICA BANK 0.40% of their portfolio DALLAS, TX 1,257,0611.3m $96.3m $96.3m 0.40% Added +27.9k +27,930
31 Cetera Investment Advisers 0.18% of their portfolio SCHAUMBURG, IL 1,185,0391.2m $90.7m $90.7m 0.18% Added +169.7k +169,671
32 PEAPACK GLADSTONE FINANCIAL CORP 1.20% of their portfolio BEDMINSTER, NJ 1,055,5691.1m $80.8m $80.8m 1.20% Added +109.1k +109,126
33 TRUIST FINANCIAL CORP 0.12% of their portfolio CHARLOTTE, NC 955,445955.4k $73.2m $73.2m 0.12% Added +41.2k +41,241
34 COMMONWEALTH EQUITY SERVICES, LLC 0.10% of their portfolio WALTHAM, MA 954,044954.0k $73.1m $73.1m 0.10% Added +44.3k +44,294
35 US BANCORP \DE\ 0.09% of their portfolio MINNEAPOLIS, MN 904,759904.8k $69.3m $69.3m 0.09% Reduced -12.8k -12,767
36 Cambridge Investment Research Advisors, Inc. 0.23% of their portfolio FAIRFIELD, IA 883,966884.0k $67.7m $67.7m 0.23% Added +31.1k +31,118
37 BCM ADVISORS, LLC 14.87% of their portfolio LAFAYETTE, LA 861,593861.6k $65.6m $65.6m 14.87% Reduced -37.4k -37,440
38 WIT, LLC 1.96% of their portfolio DISTRICT OF COLUMBIA, DC 839,603839.6k $68.6m $68.6m 1.96% Added +128.7k +128,679
39 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.10% of their portfolio BALA CYNWYD, PA 812,017812.0k $62.2m $62.2m 0.10% Added +772.6k +772,609
40 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 810,553810.6k $62.1m $62.1m 0.03% Added +99.8k +99,804
41 Cerity Partners LLC 0.12% of their portfolio NEW YORK, NY 793,116793.1k $60.7m $60.7m 0.12% Added +76.4k +76,370
42 Geneos Wealth Management Inc. 0.78% of their portfolio ENGLEWOOD, CO 708,585708.6k $54.3m $54.3m 0.78% Added +360.8k +360,820
43 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 702,738702.7k $53.8m $53.8m 0.00% Added +70.4k +70,397
44 Reliant Wealth Planning 23.57% of their portfolio LOUISVILLE, KY 674,766674.8k $51.7m $51.7m 23.57% Added +16.8k +16,848
45 Sage Financial Management Group, Inc. 18.74% of their portfolio MCLEAN, VA 674,179674.2k $51.6m $51.6m 18.74% Added +34.6k +34,617
46 Zhang Financial LLC 2.68% of their portfolio PORTAGE, MI 660,669660.7k $50.6m $50.6m 2.68% Added +479.1k +479,115
47 Cranbrook Wealth Management, LLC 11.67% of their portfolio Bloomfield Hills, MI 656,177656.2k $50.2m $50.2m 11.67% Added +20.7k +20,682
48 Family Investment Center, Inc. 12.22% of their portfolio Saint Joseph, MO 652,901652.9k $50.0m $50.0m 12.22% Added +383.4k +383,368
49 MML INVESTORS SERVICES, LLC 0.16% of their portfolio SPRINGFIELD, MA 613,087613.1k $46.9m $46.9m 0.16% Added +36.1k +36,111
50 Francis Financial, Inc. 10.70% of their portfolio NEW YORK, NY 574,692574.7k $44.0m $44.0m 10.70% Added +46.9k +46,856
51 MFA WEALTH ADVISORS, LLC 10.67% of their portfolio PITTSBURGH, PA 563,041563.0k $43.1m $43.1m 10.67% Added +14.4k +14,420
52 Badgley Phelps Wealth Managers, LLC 1.01% of their portfolio SEATTLE, WA 545,884545.9k $41.8m $41.8m 1.01% Added +13.0k +13,047
53 Orion Portfolio Solutions, LLC 0.20% of their portfolio Omaha, NE 543,816543.8k $41.2m $41.2m 0.20% Added +300.1k +300,112
54 Verus Financial Partners, Inc. 4.69% of their portfolio RICHMOND, VA 542,936542.9k $41.2m $41.2m 4.69% Added +12.0k +12,045
55 World Investment Advisors 1.07% of their portfolio LINCROFT, NJ 535,493535.5k $41.0m $41.0m 1.07% Added +397.0k +397,022
56 BRIGHTON SECURITIES CORP. 19.69% of their portfolio ROCHESTER, NY 527,397527.4k $40.4m $40.4m 19.69% Added +52.8k +52,833
57 Farther Finance Advisors, LLC 1.03% of their portfolio SAN FRANCISCO, CA 526,783526.8k $40.3m $40.3m 1.03% Added +68.1k +68,067
58 HighTower Advisors, LLC 0.05% of their portfolio CHICAGO, IL 517,577517.6k $39.6m $39.6m 0.05% Added +76.7k +76,733
59 CARY STREET PARTNERS FINANCIAL LLC 1.14% of their portfolio RICHMOND, VA 508,805508.8k $36.0m $36.0m 1.14% Reduced -63.8k -63,764
60 Discipline Wealth Solutions, LLC 18.37% of their portfolio GREENVILLE, SC 502,557502.6k $38.5m $38.5m 18.37% Reduced -747 -747
61 Creative Planning 0.04% of their portfolio OVERLAND PARK, KS 502,421502.4k $38.5m $38.5m 0.04% Added +166.6k +166,575
62 Franklin, Parlapiano, Turner & Welch, LLC 9.96% of their portfolio HOUSTON, TX 482,257482.3k $36.9m $36.9m 9.96% Reduced -430 -430
63 Everhart Financial Group, Inc. 5.04% of their portfolio Dublin, OH 481,577481.6k $36.9m $36.9m 5.04% Added +457.1k +457,120
64 Willow Creek Wealth Management Inc. 3.57% of their portfolio Sebastopol, CA 478,170478.2k $36.6m $36.6m 3.57% Added +5.6k +5,622
65 Cornerstone Planning Group LLC 8.64% of their portfolio FAIRFIELD, NJ 476,356476.4k $36.1m $36.1m 8.64% Added +18.3k +18,263
66 Modera Wealth Management, LLC 0.49% of their portfolio WESTWOOD, NJ 474,666474.7k $36.3m $36.3m 0.49% Reduced -14.3k -14,316
67 Janney Montgomery Scott LLC 0.10% of their portfolio PHILADELPHIA, PA 469,660469.7k $36.0m $36.0m 0.10% Added +9.4k +9,388
68 Cannon Financial Strategists, Inc. 6.07% of their portfolio ATHENS, GA 461,713461.7k $35.4m $35.4m 6.07% Added +32.9k +32,935
69 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 444,836444.8k $34.1m $34.1m 0.04% Added +24.0k +23,983
70 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 443,529443.5k $34.0m $34.0m 0.02% Reduced -20.0k -19,973
71 Cooper Financial Group 4.42% of their portfolio IRVINE, CA 438,548438.5k $33.6m $33.6m 4.42% Added +38.2k +38,199
72 Burt Wealth Advisors 8.27% of their portfolio North Bethesda, MD 430,928430.9k $33.0m $33.0m 8.27% Added +16.7k +16,661
73 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 426,811426.8k $32.7m $32.7m 0.00% Added +47.2k +47,184
74 Seneschal Advisors, LLC 27.92% of their portfolio TACOMA, WA 424,754424.8k $32.5m $32.5m 27.92% Reduced -3.6k -3,623
75 Wealthfront Advisers LLC 0.09% of their portfolio Palo Alto, CA 418,947418.9k $32.1m $32.1m 0.09% Added +40.8k +40,769
76 Atria Wealth Solutions, Inc. 0.38% of their portfolio NEW YORK, NY 412,421412.4k $31.6m $31.6m 0.38% Added +17.3k +17,315
77 BetterWealth, LLC 8.71% of their portfolio SAN JOSE, CA 405,438405.4k $31.0m $31.0m 8.71% Added +8.5k +8,467
78 CAROLINAS WEALTH CONSULTING LLC 6.64% of their portfolio CHARLOTTE, NC 403,218403.2k $30.9m $30.9m 6.64% Reduced -2.0k -1,969
79 Rosenberg Matthew Hamilton 7.73% of their portfolio GRAND JUNCTION, CO 402,513402.5k $30.8m $30.8m 7.73% Added +23.5k +23,546
80 Financial Engines Advisors L.L.C. 0.07% of their portfolio SANTA CLARA, CA 402,197402.2k $30.8m $30.8m 0.07% Reduced -25.1k -25,080
81 Avior Wealth Management, LLC 1.13% of their portfolio OMAHA, NE 387,903387.9k $29.7m $29.7m 1.13% Reduced -7.0k -7,035
82 PINKERTON WEALTH, LLC 3.78% of their portfolio COEUR D ALENE, ID 380,628380.6k $29.1m $29.1m 3.78% Added +23.5k +23,535
83 Gordian Advisors LLC 23.15% of their portfolio TUCSON, AZ 380,584380.6k $29.1m $29.1m 23.15% Added +10.1k +10,069
84 LVW Advisors, LLC 3.48% of their portfolio PITTSFORD, NY 376,555376.6k $28.8m $28.8m 3.48% Added +116.0k +116,007
85 Farmers & Merchants Trust Co of Chambersburg PA 9.67% of their portfolio CHAMBERSBURG, PA 356,560356.6k $27.3m $27.3m 9.67% Added +49.4k +49,390
86 Roundview Capital LLC 1.91% of their portfolio PRINCETON, NJ 345,625345.6k $26.5m $26.5m 1.91% Reduced -4.8k -4,798
87 Strategic Advocates LLC 9.19% of their portfolio SACRAMENTO, CA 345,535345.5k $26.5m $26.5m 9.19% Added +7.7k +7,727
88 Private Advisor Group, LLC 0.16% of their portfolio MORRISTOWN, NJ 345,494345.5k $26.5m $26.5m 0.16% Reduced -25.1k -25,052
89 Ballentine Capital Advisors, Inc 12.73% of their portfolio GREENVILLE, SC 327,584327.6k $25.1m $25.1m 12.73% Added +18.1k +18,125
90 FIRST NATIONAL BANK & TRUST CO OF NEWTOWN 5.21% of their portfolio NEWTOWN, PA 323,574323.6k $24.8m $24.8m 5.21% Added +242 +242
91 FINANCIAL COUNSELORS INC 0.37% of their portfolio Overland Park, KS 322,637322.6k $24.7m $24.7m 0.37% Reduced -80.0k -80,010
92 Moisand Fitzgerald Tamayo, LLC 3.39% of their portfolio ORLANDO, FL 319,594319.6k $24.5m $24.5m 3.39% Reduced -102.1k -102,088
93 Scott Capital Advisors, LLC 7.25% of their portfolio PORTLAND, OR 317,359317.4k $24.3m $24.3m 7.25% Added +6.3k +6,327
94 Prime Capital Investment Advisors, LLC 0.28% of their portfolio OVERLAND PARK, KS 309,435309.4k $23.7m $23.7m 0.28% Added +36.8k +36,840
95 Greystone Financial Group, LLC 4.27% of their portfolio BLOOMFIELD HILLS, MI 306,982307.0k $23.5m $23.5m 4.27% Added +22.3k +22,270
96 SMI Advisory Services, LLC 5.25% of their portfolio COLUMBUS, IN 304,410304.4k $23.2m $23.2m 5.25% Reduced -62.7k -62,738
97 Windward Private Wealth Management Inc. 9.02% of their portfolio OVERLAND PARK, KS 302,242302.2k $23.1m $23.1m 9.02% Added +5.0k +5,014
98 Orion Porfolio Solutions, LLC 0.23% of their portfolio OMAHA, NE 300,112300.1k $23.0m $23.0m 0.23% Added +56.4k +56,408
99 ACORN CREEK CAPITAL LLC 11.07% of their portfolio FORT COLLINS, CO 289,632289.6k $22.2m $22.2m 11.07% Added +65.5k +65,519
100 Wescott Financial Advisory Group, LLC 2.24% of their portfolio Philadelphia, PA 282,413282.4k $21.6m $21.6m 2.24% Added +33.9k +33,934