Vault-13

VANGUARD BD INDEX FDS BSV

SHORT TRM BOND · ETP · CUSIP 921937827

1,344 institutional holders +22 vs Q4 2025
443,121,148443.1m shares reported held*
$34.7bnreported value*
97 new 618 added 430 reduced 79 sold out net bought ≈ $1.7bn (+21.7m 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 ($58.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $78.39.

Trends to Q1 2026

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: 1,233Q3 25: 1,218Q4 25: 1,322Q1 26: 1,3441,344Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 20251,218
Q4 20251,322
Q1 20261,344

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 24: 513 bought or addedQ2 24: 564 cut or sold outQ3 24: 539 bought or addedQ3 24: 521 cut or sold outQ3 24Q4 24: 591 bought or addedQ4 24: 475 cut or sold outQ1 25: 593 bought or addedQ1 25: 548 cut or sold outQ1 25Q2 25: 568 bought or addedQ2 25: 563 cut or sold outQ3 25: 620 bought or addedQ3 25: 493 cut or sold outQ3 25Q4 25: 682 bought or addedQ4 25: 447 cut or sold outQ1 26: 715 bought or addedQ1 26: 509 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024513564
Q3 2024539521
Q4 2024591475
Q1 2025593548
Q2 2025568563
Q3 2025620493
Q4 2025682447
Q1 2026715509

Calls vs puts

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

CallsPuts
$0$250k$500k$750k$1mQ2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $811.7kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$811.7k$00.00
Q1 2026$0$0—

Biggest buyers

Creative Planning Added +11,278,076+11.3m
ENVESTNET ASSET MANAGEMENT INC Added +7,010,093+7.0m
MERCER GLOBAL ADVISORS INC /ADV Added +3,986,567+4.0m
BANK OF AMERICA CORP /DE/ Added +2,845,980+2.8m
Empower Advisory Group, LLC Added +1,573,272+1.6m
GOLDMAN SACHS GROUP INC Added +1,174,079+1.2m
WIT, LLC Added +885,260+885.3k
JPMORGAN CHASE & CO Added +884,330+884.3k
Purpose Unlimited Inc. Added +871,032+871.0k
National Philanthropic Trust Added +716,031+716.0k

Biggest sellers

MORGAN STANLEY Reduced -6,155,525-6.2m
Envestnet Portfolio Solutions, Inc. Reduced -3,566,035-3.6m
Corient Private Wealth LP Reduced -2,934,850-2.9m
Allworth Financial LP Reduced -2,099,297-2.1m
UNITED CAPITAL FINANCIAL ADVISORS, LLC Reduced -846,537-846.5k
Nearwater Capital Markets, Ltd Sold out -800,000-800.0k
Penserra Capital Management LLC Sold out -589,892-589.9k
US BANCORP \DE\ Reduced -542,431-542.4k
NATIONAL BANK OF CANADA /FI/ Reduced -353,466-353.5k
BANK OF NOVA SCOTIA Sold out -302,800-302.8k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MERCER GLOBAL ADVISORS INC /ADV 5.27% of their portfolio DENVER, CO 45,430,44645.4m $3.6bn $3.6bn 5.27% Added +4.0m +3,986,567
2 Creative Planning 1.99% of their portfolio OVERLAND PARK, KS 37,384,79137.4m $2.9bn $2.9bn 1.99% Added +11.3m +11,278,076
3 JPMORGAN CHASE & CO 0.18% of their portfolio NEW YORK, NY 33,221,96533.2m $2.6bn $2.6bn 0.18% Added +884.3k +884,330
4 ENVESTNET ASSET MANAGEMENT INC 0.66% of their portfolio Berwyn, PA 31,520,46231.5m $2.5bn $2.5bn 0.66% Added +7.0m +7,010,093
5 MORGAN STANLEY 0.12% of their portfolio NEW YORK, NY 24,398,04624.4m $1.9bn $1.9bn 0.12% Reduced -6.2m -6,155,525
6 Empower Advisory Group, LLC 4.59% of their portfolio Greenwood Village, CO 22,545,47022.5m $1.8bn $1.8bn 4.59% Added +1.6m +1,573,272
7 GOLDMAN SACHS GROUP INC 0.20% of their portfolio NEW YORK, NY 19,710,80419.7m $1.5bn $1.5bn 0.20% Added +1.2m +1,174,079
8 Allworth Financial LP 5.59% of their portfolio FOLSOM, CA 17,525,64117.5m $1.4bn $1.4bn 5.59% Reduced -2.1m -2,099,297
9 BANK OF AMERICA CORP /DE/ 0.07% of their portfolio CHARLOTTE, NC 12,644,33312.6m $991.4m $991.4m 0.07% Added +2.8m +2,845,980
10 NORTHERN TRUST CORP 0.12% of their portfolio CHICAGO, IL 11,574,33811.6m $907.5m $907.5m 0.12% Added +171.0k +170,977
11 Truepoint, Inc. 12.62% of their portfolio CINCINNATI, OH 7,217,9877.2m $566.0m $566.0m 12.62% Added +238.4k +238,431
12 LPL Financial LLC 0.15% of their portfolio FORT MILL, SC 7,122,0507.1m $558.4m $558.4m 0.15% Added +294.7k +294,671
13 CAPTRUST FINANCIAL ADVISORS 0.88% of their portfolio RALEIGH, NC 6,435,2126.4m $504.6m $504.6m 0.88% Added +145.5k +145,520
14 WELLS FARGO & COMPANY/MN 0.10% of their portfolio SAN FRANCISCO, CA 6,107,9686.1m $478.9m $478.9m 0.10% Added +89.5k +89,538
15 LINCOLN NATIONAL CORP 8.86% of their portfolio RADNOR, PA 3,904,0333.9m $306.1m $306.1m 8.86% Added +50.8k +50,808
16 RAYMOND JAMES FINANCIAL INC 0.09% of their portfolio ST. PETERSBURG, FL 3,901,4733.9m $305.9m $305.9m 0.09% Added +260.3k +260,281
17 UBS Group AG 0.05% of their portfolio ZURICH, V8 3,880,1953.9m $304.2m $304.2m 0.05% Added +298.7k +298,742
18 Corient Private Wealth LP 0.40% of their portfolio MIAMI, FL 3,615,3093.6m $282.4m $282.4m 0.40% Reduced -2.9m -2,934,850
19 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 3,461,2523.5m $271.4m $271.4m 0.05% Added +185.2k +185,165
20 Cerity Partners LLC 0.38% of their portfolio NEW YORK, NY 3,401,2733.4m $266.7m $266.7m 0.38% Added +108.1k +108,103
21 Sequoia Financial Advisors, LLC 1.49% of their portfolio Akron, OH 3,378,4813.4m $264.9m $264.9m 1.49% Added +450.5k +450,453
22 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 2,896,4762.9m $227.1m $227.1m 0.04% Added +135.6k +135,589
23 COMMONWEALTH EQUITY SERVICES, LLC 0.31% of their portfolio WALTHAM, MA 2,847,8732.8m $223.3m $223.3m 0.31% Reduced -48.6k -48,560
24 Cetera Investment Advisers 0.21% of their portfolio SCHAUMBURG, IL 2,562,5122.6m $200.9m $200.9m 0.21% Added +235.1k +235,146
25 True Link Financial Advisors, LLC 12.02% of their portfolio SAN FRANCISCO, CA 2,482,4872.5m $194.7m $194.7m 12.02% Added +92.9k +92,921
26 Purpose Unlimited Inc. 7.40% of their portfolio TORONTO, A6 2,281,1262.3m $178.9m $178.9m 7.40% Added +871.0k +871,032
27 MetLife Investment Management, LLC 0.91% of their portfolio Whippany, NJ 2,274,5002.3m $178.3m $178.3m 0.91% Reduced -61.5k -61,500
28 Focus Partners Wealth 0.19% of their portfolio ST LOUIS, MO 2,136,5032.1m $167.5m $167.5m 0.19% Added +69.1k +69,103
29 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 2,052,7042.1m $161.0m $161.0m 0.02% Added +868 +868
30 WIT, LLC 2.97% of their portfolio DISTRICT OF COLUMBIA, DC 2,007,4222.0m $157.4m $157.4m 2.97% Added +885.3k +885,260
31 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.93% of their portfolio IRVING, TX 1,922,9541.9m $150.7m $150.7m 0.93% Reduced -846.5k -846,537
32 TRUIST FINANCIAL CORP 0.20% of their portfolio CHARLOTTE, NC 1,876,8081.9m $147.2m $147.2m 0.20% Reduced -190.1k -190,101
33 JONES FINANCIAL COMPANIES LLLP 0.07% of their portfolio DES PERES, MO 1,832,7551.8m $143.2m $143.2m 0.07% Added +303.8k +303,802
34 OSAIC HOLDINGS, INC. 0.21% of their portfolio SCOTTSDALE, AZ 1,822,5931.8m $142.9m $142.9m 0.21% Added +147.9k +147,868
35 Apella Capital, LLC 1.93% of their portfolio WEST HARTFORD, CT 1,655,9821.7m $130.1m $130.1m 1.93% Reduced -5.6k -5,592
36 Valmark Advisers, Inc. 1.50% of their portfolio AKRON, OH 1,610,6391.6m $126.3m $126.3m 1.50% Added +75.7k +75,730
37 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.08% of their portfolio MILWAUKEE, WI 1,605,4631.6m $125.9m $125.9m 0.08% Added +95.7k +95,706
38 FIFTH THIRD BANCORP 0.23% of their portfolio CINCINNATI, OH 1,590,8421.6m $124.7m $124.7m 0.23% Added +710.1k +710,115
39 National Philanthropic Trust 1.29% of their portfolio Jenkintown, PA 1,539,7131.5m $120.7m $120.7m 1.29% Added +716.0k +716,031
40 Cambridge Investment Research Advisors, Inc. 0.29% of their portfolio FAIRFIELD, IA 1,419,4681.4m $111.3m $111.3m 0.29% Added +114.9k +114,859
41 RW Investment Management LLC 10.15% of their portfolio Eagle, ID 1,337,8471.3m $104.9m $104.9m 10.15% First filing
42 &PARTNERS 0.50% of their portfolio NASHVILLE, TN 1,296,4961.3m $101.8m $101.8m 0.50% Added +145.5k +145,508
43 Smithfield Trust Co 4.29% of their portfolio PITTSBURGH, PA 1,257,1041.3m $98.5m $98.5m 4.29% Reduced -11.2k -11,165
44 DAVENPORT & Co LLC 0.54% of their portfolio RICHMOND, VA 1,247,4851.2m $97.8m $97.8m 0.54% Added +87.9k +87,880
45 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,244,7751.2m $97.8m $97.8m 0.02% Added +64.4k +64,414
46 Beacon Pointe Advisors, LLC 0.51% of their portfolio NEWPORT BEACH, CA 1,227,0731.2m $96.2m $96.2m 0.51% Added +51.5k +51,463
47 RS CRUM INC. 18.08% of their portfolio Newport Beach, CA 1,192,2351.2m $93.5m $93.5m 18.08% Added +73.2k +73,202
48 Freestone Capital Holdings, LLC 2.81% of their portfolio Seattle, WA 1,178,1491.2m $92.4m $92.4m 2.81% Added +176.3k +176,295
49 World Investment Advisors 1.47% of their portfolio LINCROFT, NJ 1,165,0491.2m $91.4m $91.4m 1.47% Added +66.1k +66,140
50 D.A. DAVIDSON & CO. 0.50% of their portfolio GREAT FALLS, MT 1,059,7781.1m $83.1m $83.1m 0.50% Added +60.8k +60,808
51 EXCHANGE TRADED CONCEPTS, LLC 0.63% of their portfolio Oklahoma City, OK 1,051,2931.1m $82.4m $82.4m 0.63% Added +36.8k +36,844
52 Janney Montgomery Scott LLC 0.20% of their portfolio PHILADELPHIA, PA 1,047,7201.0m $82.2m $82.2m 0.20% Added +103.5k +103,470
53 PEAPACK GLADSTONE FINANCIAL CORP 1.03% of their portfolio BEDMINSTER, NJ 1,030,1651.0m $80.8m $80.8m 1.03% Reduced -1.1k -1,082
54 Martel Wealth Advisors LLC 12.52% of their portfolio VANCOUVER, WA 938,279938.3k $73.6m $73.6m 12.52% Added +53.9k +53,940
55 Wealthquest Corp 2.56% of their portfolio CINCINNATI, OH 891,942891.9k $70.1m $70.1m 2.56% Added +455.0k +455,014
56 Envestnet Portfolio Solutions, Inc. 0.38% of their portfolio BERWYN, PA 883,412883.4k $69.3m $69.3m 0.38% Reduced -3.6m -3,566,035
57 FIRST MERCHANTS CORP 2.63% of their portfolio Muncie, IN 883,399883.4k $69.3m $69.3m 2.63% Added +74.1k +74,086
58 Integris Wealth Management, LLC 15.37% of their portfolio Monterey, CA 852,779852.8k $66.9m $66.9m 15.37% Added +36.8k +36,824
59 HighTower Advisors, LLC 0.07% of their portfolio CHICAGO, IL 845,989846.0k $66.3m $66.3m 0.07% Added +579 +579
60 Windward Private Wealth Management Inc. 22.85% of their portfolio OVERLAND PARK, KS 843,187843.2k $66.1m $66.1m 22.85% Added +20.8k +20,811
61 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 840,618840.6k $65.9m $65.9m 0.06% Reduced -10.7k -10,713
62 Gemmer Asset Management LLC 5.08% of their portfolio WALNUT CREEK, CA 820,442820.4k $64.3m $64.3m 5.08% Added +75.2k +75,171
63 MML INVESTORS SERVICES, LLC 0.18% of their portfolio SPRINGFIELD, MA 820,049820.0k $64.3m $64.3m 0.18% Reduced -49.3k -49,289
64 Petersen Hastings Wealth Advisors Inc. 5.75% of their portfolio KENNEWICK, WA 800,052800.1k $62.7m $62.7m 5.75% Added +50.1k +50,095
65 VANGUARD ADVISERS INC 0.24% of their portfolio Malvern, PA 788,554788.6k $61.8m $61.8m 0.24% First filing
66 Capital Analysts, LLC 1.57% of their portfolio FORT WASHINGTON, PA 760,204760.2k $59.6m $59.6m 1.57% Added +46.6k +46,649
67 Savant Capital, LLC 0.28% of their portfolio ROCKFORD, IL 751,045751.0k $58.9m $58.9m 0.28% Added +216.4k +216,428
68 Focus Partners Advisor Solutions, LLC 0.59% of their portfolio SAINT LOUIS, MO 744,552744.6k $58.4m $58.4m 0.59% Added +481.3k +481,254
69 Prime Capital Investment Advisors, LLC 0.66% of their portfolio OVERLAND PARK, KS 725,647725.6k $56.9m $56.9m 0.66% Added +3.2k +3,239
70 Charter Oak Capital Management, LLC 4.29% of their portfolio PORTSMOUTH, NH 705,781705.8k $55.3m $55.3m 4.29% Reduced -76.4k -76,392
71 TD Capital Management LLC 4.90% of their portfolio MEMPHIS, TN 694,812694.8k $54.5m $54.5m 4.90% Reduced -13.1k -13,122
72 Composition Wealth, LLC 0.74% of their portfolio LOS ANGELES, CA 684,544684.5k $53.7m $53.7m 0.74% Added +6.0k +5,997
73 Trajan Wealth LLC 2.17% of their portfolio SCOTTSDALE, AZ 684,435684.4k $53.7m $53.7m 2.17% Added +61.6k +61,644
74 Efficient Advisors, LLC 3.56% of their portfolio BEAVERTON, OR 639,290639.3k $50.1m $50.1m 3.56% Reduced -131.3k -131,330
75 Vestmark Advisory Solutions, Inc. 0.55% of their portfolio Wakefield, MA 633,874633.9k $49.7m $49.7m 0.55% Added +20.5k +20,485
76 Arbor Investment Advisors, LLC 6.42% of their portfolio WINSTON SALEM, NC 628,847628.8k $49.3m $49.3m 6.42% Added +14.2k +14,154
77 Betterment LLC 0.09% of their portfolio NEW YORK, NY 628,308628.3k $49.3m $49.3m 0.09% Added +13.9k +13,911
78 Symmetry Partners, LLC 2.78% of their portfolio GLASTONBURY, CT 620,410620.4k $48.6m $48.6m 2.78% Reduced -1.5k -1,496
79 International City Management Association Retirement Corp 24.08% of their portfolio WASHINGTON, DC 599,500599.5k $47.0m $47.0m 24.08% Unchanged
80 Farther Finance Advisors, LLC 0.43% of their portfolio SAN FRANCISCO, CA 588,387588.4k $46.0m $46.0m 0.43% Added +109.6k +109,591
81 EverSource Wealth Advisors, LLC 1.35% of their portfolio BIRMINGHAM, AL 564,718564.7k $44.3m $44.3m 1.35% Added +217.4k +217,378
82 PRESILIUM PRIVATE WEALTH, LLC 7.60% of their portfolio RADNOR, PA 550,056550.1k $43.1m $43.1m 7.60% Added +25.7k +25,712
83 Annandale Capital, LLC 7.05% of their portfolio DALLAS, TX 547,601547.6k $42.9m $42.9m 7.05% Added +9.0k +9,044
84 TOBIAS FINANCIAL ADVISORS, INC. 5.93% of their portfolio Plantation, FL 543,467543.5k $42.6m $42.6m 5.93% Added +37.8k +37,773
85 Baird Financial Group, Inc. 0.06% of their portfolio MILWAUKEE, WI 517,565517.6k $40.6m $40.6m 0.06% Added +63.5k +63,454
86 Clark Asset Management, LLC 3.81% of their portfolio STRATHAM, NH 517,528517.5k $40.6m $40.6m 3.81% Added +49.1k +49,125
87 Old Peak Finance LLC 23.14% of their portfolio CHAPEL HILL, NC 505,452505.5k $39.6m $39.6m 23.14% Added +23.8k +23,814
88 Partners in Financial Planning 6.21% of their portfolio SALEM, VA 477,374477.4k $37.4m $37.4m 6.21% Added +11.9k +11,945
89 Orion Porfolio Solutions, LLC 0.32% of their portfolio OMAHA, NE 476,098476.1k $37.3m $37.3m 0.32% Added +67.1k +67,107
90 Mariner, LLC 0.04% of their portfolio Overland Park, KS 462,288462.3k $36.2m $36.2m 0.04% Added +38.7k +38,660
91 Human Investing LLC 5.13% of their portfolio LAKE OSWEGO, OR 449,426449.4k $35.2m $35.2m 5.13% Reduced -19.6k -19,643
92 Savvy Advisors, Inc. 0.93% of their portfolio NEW YORK, NY 440,801440.8k $34.6m $34.6m 0.93% Added +44.4k +44,356
93 Voya Financial Advisors, Inc. 3.40% of their portfolio WINDSOR, CT 436,375436.4k $34.1m $34.1m 3.40% Added +33.9k +33,856
94 PDS Planning, Inc 2.23% of their portfolio DUBLIN, OH 432,009432.0k $33.9m $33.9m 2.23% Added +21.5k +21,487
95 NewEdge Advisors, LLC 0.12% of their portfolio NEW ORLEANS, LA 424,838424.8k $33.3m $33.3m 0.12% Reduced -11.4k -11,421
96 Berkshire Money Management, Inc. 3.39% of their portfolio DALTON, MA 421,566421.6k $33.1m $33.1m 3.39% Added +14.7k +14,721
97 CreativeOne Wealth, LLC 0.77% of their portfolio OVERLAND PARK, KS 421,109421.1k $33.0m $33.0m 0.77% Reduced -3.5k -3,540
98 Cullen/Frost Bankers, Inc. 0.37% of their portfolio San Antonio, TX 412,409412.4k $32.3m $32.3m 0.37% Reduced -35.0k -34,986
99 BARR E S & CO 1.86% of their portfolio LEXINGTON, KY 407,575407.6k $32.0m $32.0m 1.86% Reduced -16.9k -16,900
100 PARK AVENUE SECURITIES LLC 0.24% of their portfolio NEW YORK, NY 396,953397.0k $31.1m $31.1m 0.24% Added +33.1k +33,115