Vault-13

VANGUARD BD INDEX FDS BSV

SHORT TRM BOND · ETP · CUSIP 921937827

1,233 institutional holders +14 vs Q1 2025
403,773,115403.8m shares reported held*
$31.8bnreported value*
85 new 483 added 482 reduced 81 sold out net bought ≈ $3.0bn (+37.6m 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 ($35.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $78.74. Options: 0 managers hold calls (— notional), 1 hold puts ($0).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,137Q4 22: 1,169Q1 23: 1,140Q2 23: 1,146Q3 23: 1,135Q4 23: 1,212Q1 24: 1,160Q2 24: 1,136Q3 24: 1,147Q4 24: 1,253Q1 25: 1,219Q2 25: 1,2331,233Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221,137
Q4 20221,169
Q1 20231,140
Q2 20231,146
Q3 20231,135
Q4 20231,212
Q1 20241,160
Q2 20241,136
Q3 20241,147
Q4 20241,253
Q1 20251,219
Q2 20251,233

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 23: 458 bought or addedQ3 23: 619 cut or sold outQ4 23: 483 bought or addedQ4 23: 601 cut or sold outQ4 23Q1 24: 531 bought or addedQ1 24: 579 cut or sold outQ2 24: 513 bought or addedQ2 24: 564 cut or sold outQ2 24Q3 24: 539 bought or addedQ3 24: 521 cut or sold outQ4 24: 591 bought or addedQ4 24: 475 cut or sold outQ4 24Q1 25: 593 bought or addedQ1 25: 548 cut or sold outQ2 25: 568 bought or addedQ2 25: 563 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023458619
Q4 2023483601
Q1 2024531579
Q2 2024513564
Q3 2024539521
Q4 2024591475
Q1 2025593548
Q2 2025568563

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ3 24 calls: $0Q3 24 puts: $7.6mQ3 24P/C —Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —
Numbers
QuarterCallsPutsP/C
Q3 2024$0$7.6m—
Q4 2024$0$0—
Q1 2025$0$0—
Q2 2025$0$0—

Biggest buyers

MORGAN STANLEY Added +22,673,541+22.7m
JPMORGAN CHASE & CO Added +11,848,817+11.8m
ROYAL BANK OF CANADA Added +3,007,921+3.0m
NORTHERN TRUST CORP Added +2,819,966+2.8m
MERCER GLOBAL ADVISORS INC /ADV Added +2,444,321+2.4m
CW Advisors, LLC Added +868,730+868.7k
ENVESTNET ASSET MANAGEMENT INC Added +852,175+852.2k
Empower Advisory Group, LLC Added +800,357+800.4k
TRUIST FINANCIAL CORP Added +681,335+681.3k
EXCHANGE TRADED CONCEPTS, LLC Added +511,910+511.9k

Biggest sellers

Beacon Capital Management, Inc. Reduced -4,912,947-4.9m
SEI INVESTMENTS CO Sold out -3,173,734-3.2m
BANK OF AMERICA CORP /DE/ Reduced -948,446-948.4k
RENAISSANCE TECHNOLOGIES LLC Reduced -577,200-577.2k
UNITED CAPITAL FINANCIAL ADVISORS, LLC Reduced -525,101-525.1k
Atria Wealth Solutions, Inc. Reduced -491,627-491.6k
Corient Private Wealth LP Reduced -340,057-340.1k
UNITED SERVICES AUTOMOBILE ASSOCIATION Reduced -336,687-336.7k
Envestnet Portfolio Solutions, Inc. Reduced -315,743-315.7k
WELLS FARGO & COMPANY/MN Reduced -313,570-313.6k

Biggest calls

None

Biggest puts

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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 1.26% of their portfolio Berwyn, PA 54,699,16854.7m $4.3bn $4.3bn 1.26% Added +852.2k +852,175
2 MORGAN STANLEY 0.19% of their portfolio NEW YORK, NY 37,597,58437.6m $3.0bn $3.0bn 0.19% Added +22.7m +22,673,541
3 MERCER GLOBAL ADVISORS INC /ADV 6.02% of their portfolio DENVER, CO 34,076,93234.1m $2.7bn $2.7bn 6.02% Added +2.4m +2,444,321
4 JPMORGAN CHASE & CO 0.17% of their portfolio NEW YORK, NY 32,198,34132.2m $2.5bn $2.5bn 0.17% Added +11.8m +11,848,817
5 Allworth Financial LP 7.05% of their portfolio FOLSOM, CA 18,685,79318.7m $1.5bn $1.5bn 7.05% Added +267.4k +267,419
6 Empower Advisory Group, LLC 4.27% of their portfolio Greenwood Village, CO 18,101,20118.1m $1.4bn $1.4bn 4.27% Added +800.4k +800,357
7 GOLDMAN SACHS GROUP INC 0.21% of their portfolio NEW YORK, NY 16,550,21516.6m $1.3bn $1.3bn 0.21% Reduced -2.8k -2,771
8 NORTHERN TRUST CORP 0.11% of their portfolio CHICAGO, IL 9,935,7599.9m $781.9m $781.9m 0.11% Added +2.8m +2,819,966
9 BANK OF AMERICA CORP /DE/ 0.05% of their portfolio CHARLOTTE, NC 7,468,7537.5m $587.8m $587.8m 0.05% Reduced -948.4k -948,446
10 LPL Financial LLC 0.18% of their portfolio FORT MILL, SC 6,747,8346.7m $531.1m $531.1m 0.18% Added +445.4k +445,359
11 Truepoint, Inc. 12.57% of their portfolio CINCINNATI, OH 6,415,7946.4m $504.9m $504.9m 12.57% Added +78.0k +77,960
12 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 5,931,3625.9m $466.8m $466.8m 0.05% Added +3.0m +3,007,921
13 CAPTRUST FINANCIAL ADVISORS 0.95% of their portfolio RALEIGH, NC 5,383,4455.4m $423.7m $423.7m 0.95% Added +348.3k +348,333
14 WELLS FARGO & COMPANY/MN 0.09% of their portfolio SAN FRANCISCO, CA 4,915,1094.9m $386.8m $386.8m 0.09% Reduced -313.6k -313,570
15 UNITED CAPITAL FINANCIAL ADVISORS, LLC 2.79% of their portfolio IRVING, TX 4,392,6174.4m $345.7m $345.7m 2.79% Reduced -525.1k -525,101
16 Envestnet Portfolio Solutions, Inc. 1.25% of their portfolio BERWYN, PA 4,311,0174.3m $339.3m $339.3m 1.25% Reduced -315.7k -315,743
17 UBS Group AG 0.06% of their portfolio ZURICH, V8 3,508,0603.5m $276.1m $276.1m 0.06% Added +106.2k +106,198
18 LINCOLN NATIONAL CORP 8.25% of their portfolio RADNOR, PA 3,457,1093.5m $272.1m $272.1m 8.25% Reduced -66.9k -66,926
19 RAYMOND JAMES FINANCIAL INC 0.09% of their portfolio ST. PETERSBURG, FL 3,281,2663.3m $258.2m $258.2m 0.09% Added +184.4k +184,413
20 COMMONWEALTH EQUITY SERVICES, LLC 0.33% of their portfolio WALTHAM, MA 3,127,9453.1m $246.2m $246.2m 0.33% Added +16.9k +16,894
21 Corient Private Wealth LP 0.30% of their portfolio MIAMI, FL 2,963,3993.0m $224.1m $224.1m 0.30% Reduced -340.1k -340,057
22 Cerity Partners LLC 0.37% of their portfolio NEW YORK, NY 2,604,2032.6m $205.0m $205.0m 0.37% Added +70.1k +70,079
23 Sequoia Financial Advisors, LLC 1.37% of their portfolio Akron, OH 2,532,8982.5m $199.3m $199.3m 1.37% Reduced -25.1k -25,145
24 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 2,495,7782.5m $196.4m $196.4m 0.04% Added +7.0k +7,004
25 MetLife Investment Management, LLC 1.08% of their portfolio Whippany, NJ 2,336,0002.3m $183.8m $183.8m 1.08% Added +130.0k +130,000
26 Beacon Capital Management, Inc. 9.15% of their portfolio DAYTON, OH 2,255,8712.3m $177.5m $177.5m 9.15% Reduced -4.9m -4,912,947
27 True Link Financial Advisors, LLC 11.43% of their portfolio SAN FRANCISCO, CA 2,104,4722.1m $165.6m $165.6m 11.43% Added +67.0k +67,033
28 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio SAN FRANCISCO, CA 2,021,2912.0m $159.1m $159.1m 0.03% Reduced -30.7k -30,721
29 Cetera Investment Advisers 0.25% of their portfolio SCHAUMBURG, IL 1,899,5211.9m $149.5m $149.5m 0.25% Added +72.9k +72,858
30 TRUIST FINANCIAL CORP 0.21% of their portfolio CHARLOTTE, NC 1,812,6001.8m $142.7m $142.7m 0.21% Added +681.3k +681,335
31 Focus Partners Wealth 0.30% of their portfolio ST LOUIS, MO 1,776,6601.8m $139.8m $139.8m 0.30% Added +36.5k +36,486
32 Apella Capital, LLC 3.44% of their portfolio WEST HARTFORD, CT 1,621,7271.6m $126.8m $126.8m 3.44% Reduced -76.9k -76,894
33 Willow Creek Wealth Management Inc. 10.01% of their portfolio Sebastopol, CA 1,414,1611.4m $111.3m $111.3m 10.01% Added +51.8k +51,835
34 Valmark Advisers, Inc. 1.54% of their portfolio AKRON, OH 1,408,8071.4m $110.9m $110.9m 1.54% Added +58.5k +58,517
35 Cambridge Investment Research Advisors, Inc. 0.31% of their portfolio FAIRFIELD, IA 1,313,0561.3m $103.3m $103.3m 0.31% Reduced -41.5k -41,530
36 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.08% of their portfolio MILWAUKEE, WI 1,310,9341.3m $103.2m $103.2m 0.08% Added +103.6k +103,643
37 Smithfield Trust Co 4.79% of their portfolio PITTSBURGH, PA 1,289,5161.3m $101.5m $101.5m 4.79% Reduced -29.8k -29,834
38 JONES FINANCIAL COMPANIES LLLP 0.08% of their portfolio DES PERES, MO 1,288,4931.3m $101.3m $101.3m 0.08% Added +111.3k +111,329
39 OSAIC HOLDINGS, INC. 0.16% of their portfolio SCOTTSDALE, AZ 1,176,7101.2m $92.6m $92.6m 0.16% Added +105.2k +105,151
40 RW Investment Management LLC 10.26% of their portfolio Eagle, ID 1,170,0181.2m $92.1m $92.1m 10.26% Added +1.4k +1,367
41 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,121,7491.1m $87.7m $87.7m 0.02% Added +123.9k +123,873
42 DAVENPORT & Co LLC 0.45% of their portfolio RICHMOND, VA 1,044,6901.0m $82.2m $82.2m 0.45% Added +4.0k +3,957
43 PEAPACK GLADSTONE FINANCIAL CORP 1.12% of their portfolio BEDMINSTER, NJ 1,005,7871.0m $79.2m $79.2m 1.12% Reduced -45.8k -45,825
44 RS CRUM INC. 18.48% of their portfolio Newport Beach, CA 979,150979.1k $77.1m $77.1m 18.48% Added +21.3k +21,349
45 MKP Capital Management, L.L.C. 3.92% of their portfolio New York, NY 970,000970.0k $76.3m $76.3m 3.92% Unchanged
46 Freestone Capital Holdings, LLC 2.47% of their portfolio Seattle, WA 921,258921.3k $72.5m $72.5m 2.47% Added +23.6k +23,650
47 CW Advisors, LLC 0.70% of their portfolio BOSTON, MA 918,429918.4k $72.3m $72.3m 0.70% Added +868.7k +868,730
48 D.A. DAVIDSON & CO. 0.51% of their portfolio GREAT FALLS, MT 913,931913.9k $71.9m $71.9m 0.51% Added +12.4k +12,409
49 World Investment Advisors 1.61% of their portfolio LINCROFT, NJ 898,178898.2k $70.7m $70.7m 1.61% Added +52.4k +52,394
50 Savant Capital, LLC 0.50% of their portfolio ROCKFORD, IL 890,919890.9k $70.1m $70.1m 0.50% Added +510.7k +510,741
51 Charter Oak Capital Management, LLC 5.85% of their portfolio PORTSMOUTH, NH 880,583880.6k $69.3m $69.3m 5.85% Added +48.3k +48,251
52 Janney Montgomery Scott LLC 0.18% of their portfolio PHILADELPHIA, PA 876,375876.4k $69.0m $69.0m 0.18% Added +13.3k +13,304
53 HighTower Advisors, LLC 0.09% of their portfolio CHICAGO, IL 862,306862.3k $67.9m $67.9m 0.09% Added +6.1k +6,100
54 FIFTH THIRD BANCORP 0.23% of their portfolio CINCINNATI, OH 847,680847.7k $66.7m $66.7m 0.23% Added +34.4k +34,394
55 WIT, LLC 1.65% of their portfolio DISTRICT OF COLUMBIA, DC 844,643844.6k $66.5m $66.5m 1.65% Unchanged
56 MML INVESTORS SERVICES, LLC 0.19% of their portfolio SPRINGFIELD, MA 826,927826.9k $65.1m $65.1m 0.19% Added +14.8k +14,821
57 &PARTNERS 0.48% of their portfolio NASHVILLE, TN 798,107798.1k $63.1m $63.1m 0.48% Added +220.4k +220,435
58 Martel Wealth Advisors LLC 11.62% of their portfolio VANCOUVER, WA 796,532796.5k $62.7m $62.7m 11.62% Added +15.7k +15,702
59 Efficient Advisors, LLC 3.71% of their portfolio BEAVERTON, OR 792,001792.0k $62.3m $62.3m 3.71% Reduced -5.4k -5,398
60 Berkshire Money Management, Inc. 6.56% of their portfolio DALTON, MA 791,653791.7k $62.3m $62.3m 6.56% Added +197.5k +197,511
61 Windward Private Wealth Management Inc. 22.46% of their portfolio OVERLAND PARK, KS 791,535791.5k $62.3m $62.3m 22.46% Added +19.2k +19,228
62 COMERICA BANK 0.24% of their portfolio DALLAS, TX 786,255786.3k $61.9m $61.9m 0.24% Added +83.9k +83,933
63 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 769,451769.5k $60.6m $60.6m 0.06% Added +14.5k +14,468
64 Integris Wealth Management, LLC 15.48% of their portfolio Monterey, CA 754,404754.4k $59.4m $59.4m 15.48% Reduced -5.5k -5,495
65 FIRST MERCHANTS CORP 2.28% of their portfolio Muncie, IN 749,453749.5k $59.0m $59.0m 2.28% Added +12.6k +12,559
66 US BANCORP \DE\ 0.07% of their portfolio MINNEAPOLIS, MN 744,272744.3k $58.6m $58.6m 0.07% Reduced -18.9k -18,937
67 National Philanthropic Trust 0.77% of their portfolio Jenkintown, PA 731,206731.2k $57.5m $57.5m 0.77% Added +63.9k +63,884
68 Jentner Corp 15.24% of their portfolio Akron, OH 722,651722.7k $56.9m $56.9m 15.24% Added +16.0k +15,981
69 TD Capital Management LLC 5.27% of their portfolio MEMPHIS, TN 709,937709.9k $55.9m $55.9m 5.27% Added +15.7k +15,702
70 Prime Capital Investment Advisors, LLC 0.74% of their portfolio OVERLAND PARK, KS 707,235707.2k $55.7m $55.7m 0.74% Reduced -125.6k -125,607
71 RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio NEW YORK, NY 706,900706.9k $55.6m $55.6m 0.07% Reduced -577.2k -577,200
72 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 702,335702.3k $55.3m $55.3m 0.00% Added +69.1k +69,097
73 Gemmer Asset Management LLC 4.75% of their portfolio WALNUT CREEK, CA 679,972680.0k $53.5m $53.5m 4.75% Added +35.7k +35,739
74 Penserra Capital Management LLC 0.71% of their portfolio ORINDA, CA 648,142648.1k $51.0m $51.0m 0.71% Added +46.4k +46,433
75 EXCHANGE TRADED CONCEPTS, LLC 0.64% of their portfolio Oklahoma City, OK 633,989634.0k $49.9m $49.9m 0.64% Added +511.9k +511,910
76 Arbor Investment Advisors, LLC 6.11% of their portfolio WINSTON SALEM, NC 605,839605.8k $47.7m $47.7m 6.11% Added +5.7k +5,706
77 International City Management Association Retirement Corp 25.18% of their portfolio WASHINGTON, DC 599,500599.5k $47.2m $47.2m 25.18% Unchanged
78 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 598,569598.6k $47.1m $47.1m 0.03% Added +156.8k +156,779
79 Focus Partners Advisor Solutions, LLC 0.60% of their portfolio SAINT LOUIS, MO 575,639575.6k $45.3m $45.3m 0.60% Reduced -41.5k -41,499
80 Betterment LLC 0.10% of their portfolio NEW YORK, NY 570,256570.3k $44.9m $44.9m 0.10% Added +33.1k +33,116
81 Composition Wealth, LLC 0.73% of their portfolio LOS ANGELES, CA 552,861552.9k $43.5m $43.5m 0.73% Added +67.4k +67,375
82 Capital Analysts, LLC 1.42% of their portfolio FORT WASHINGTON, PA 540,412540.4k $42.5m $42.5m 1.42% Reduced -15.8k -15,793
83 Annandale Capital, LLC 7.69% of their portfolio DALLAS, TX 529,737529.7k $41.7m $41.7m 7.69% Reduced -17.9k -17,899
84 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.07% of their portfolio PLYMOUTH, MN 528,638528.6k $41.4m $41.4m 0.07% Reduced -2.8k -2,773
85 Creative Planning 0.03% of their portfolio OVERLAND PARK, KS 513,072513.1k $40.4m $40.4m 0.03% Reduced -38.7k -38,694
86 BARR E S & CO 2.20% of their portfolio LEXINGTON, KY 488,355488.4k $38.4m $38.4m 2.20% Reduced -29.6k -29,595
87 TOBIAS FINANCIAL ADVISORS, INC. 6.33% of their portfolio Plantation, FL 470,019470.0k $37.0m $37.0m 6.33% Added +26.0k +25,967
88 PRESILIUM PRIVATE WEALTH, LLC 7.30% of their portfolio RADNOR, PA 453,153453.2k $35.7m $35.7m 7.30% Added +37.4k +37,442
89 Partners in Financial Planning 6.51% of their portfolio SALEM, VA 448,864448.9k $35.3m $35.3m 6.51% Added +16.7k +16,715
90 AVANTAX ADVISORY SERVICES, INC. 0.19% of their portfolio DALLAS, TX 435,969436.0k $34.3m $34.3m 0.19% Reduced -17.1k -17,099
91 Greystone Financial Group, LLC 5.63% of their portfolio BLOOMFIELD HILLS, MI 434,542434.5k $34.2m $34.2m 5.63% Added +138.1k +138,088
92 Trajan Wealth LLC 1.60% of their portfolio SCOTTSDALE, AZ 415,788415.8k $32.7m $32.7m 1.60% Added +64.7k +64,727
93 Blue Trust, Inc. 0.38% of their portfolio BRENTWOOD, TN 413,497413.5k $32.5m $32.5m 0.38% Added +19.6k +19,561
94 PDS Planning, Inc 2.41% of their portfolio DUBLIN, OH 411,345411.3k $32.4m $32.4m 2.41% Added +21.1k +21,091
95 Wealthquest Corp 2.54% of their portfolio CINCINNATI, OH 409,564409.6k $32.2m $32.2m 2.54% Added +21.2k +21,188
96 Human Investing LLC 5.02% of their portfolio LAKE OSWEGO, OR 405,079405.1k $31.9m $31.9m 5.02% Added +13.5k +13,524
97 ASSETMARK, INC 0.07% of their portfolio CONCORD, CA 403,260403.3k $31.7m $31.7m 0.07% Added +334.2k +334,178
98 Ancora Advisors LLC 0.66% of their portfolio Cleveland, OH 399,764399.8k $31.5m $31.5m 0.66% Reduced -8.7k -8,697
99 Orion Porfolio Solutions, LLC 0.26% of their portfolio OMAHA, NE 392,738392.7k $30.9m $30.9m 0.26% Added +17.0k +17,012
100 CreativeOne Wealth, LLC 0.81% of their portfolio OVERLAND PARK, KS 391,744391.7k $30.8m $30.8m 0.81% Reduced -278 -278