Vault-13

VANGUARD BD INDEX FDS BND

TOTAL BND MRKT · ETP · CUSIP 921937835

1,456 institutional holders +168 vs Q3 2023
1,047,813,0641.0bn shares reported held*
$72.7bnreported value*
142 new 620 added 455 reduced 85 sold out net bought ≈ $16.2bn (+224.8m 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 ($125.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $69.35. Options: 3 managers hold calls ($3.9m notional), 5 hold puts ($2.6m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,157Q4 22: 1,253Q1 23: 1,267Q2 23: 1,282Q3 23: 1,288Q4 23: 1,4561,456Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 20221,157
Q4 20221,253
Q1 20231,267
Q2 20231,282
Q3 20231,288
Q4 20231,456

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 22: 602 bought or addedQ4 22: 553 cut or sold outQ4 22Q1 23: 640 bought or addedQ1 23: 566 cut or sold outQ1 23Q2 23: 673 bought or addedQ2 23: 523 cut or sold outQ2 23Q3 23: 707 bought or addedQ3 23: 530 cut or sold outQ3 23Q4 23: 762 bought or addedQ4 23: 540 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022602553
Q1 2023640566
Q2 2023673523
Q3 2023707530
Q4 2023762540

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ1 23 calls: $9.0mQ1 23 puts: $1.5mQ1 23P/C 0.16Q2 23 calls: $5.4mQ2 23 puts: $1.3mQ2 23P/C 0.24Q3 23 calls: $4.2mQ3 23 puts: $1.5mQ3 23P/C 0.35Q4 23 calls: $3.9mQ4 23 puts: $2.6mQ4 23P/C 0.66
Numbers
QuarterCallsPutsP/C
Q1 2023$9.0m$1.5m0.16
Q2 2023$5.4m$1.3m0.24
Q3 2023$4.2m$1.5m0.35
Q4 2023$3.9m$2.6m0.66

Biggest buyers

MORGAN STANLEY Added +87,118,349+87.1m
JPMORGAN CHASE & CO Added +86,811,040+86.8m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +10,669,034+10.7m
Morningstar Investment Services LLC Added +8,482,025+8.5m
TEXAS TREASURY SAFEKEEPING TRUST CO Added +6,121,670+6.1m
VANGUARD GROUP INC Added +5,792,806+5.8m
Creative Planning Added +5,594,165+5.6m
BANK OF AMERICA CORP /DE/ Added +4,621,526+4.6m
WELLS FARGO & COMPANY/MN Added +2,621,687+2.6m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +2,211,949+2.2m

Biggest sellers

JONES FINANCIAL COMPANIES LLLP Reduced -6,163,195-6.2m
US BANCORP \DE\ Reduced -2,969,020-3.0m
GenTrust, LLC Reduced -1,748,274-1.7m
RATIONAL ADVISORS, INC. Sold out -1,468,730-1.5m
FIL Ltd Reduced -1,325,813-1.3m
OSAIC HOLDINGS, INC. Reduced -1,153,872-1.2m
Metropolitan Life Insurance Co/NY Sold out -1,039,542-1.0m
TORONTO DOMINION BANK Reduced -1,030,460-1.0m
Keudell/Morrison Wealth Management Reduced -552,336-552.3k
Brookstone Capital Management Reduced -457,013-457.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.2m43.9k shares
CITADEL ADVISORS LLC Reduced $698.7k9.5k shares
Cutler Group LLC / CA Reduced $11.0k5.9k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.0m27.3k shares
CITADEL ADVISORS LLC Added $529.6k7.2k shares
SIMPLEX TRADING, LLC Reduced $66.0k1.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
Cutler Group LLC / CA Added $02.3k 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, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.72% of their portfolio NEW YORK, NY 192,676,084192.7m $14.2bn $14.2bn 0.72% Added +86.8m +86,811,040
2 MORGAN STANLEY 0.55% of their portfolio NEW YORK, NY 169,693,084169.7m $12.5bn $12.5bn 0.55% Added +87.1m +87,118,349
3 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 9.55% of their portfolio MILWAUKEE, WI 115,163,553115.2m $8.5bn $8.5bn 9.55% Added +10.7m +10,669,034
4 Creative Planning 0.04% of their portfolio OVERLAND PARK, KS 61,103,61361.1m $21.7m $21.7m 0.04% Added +5.6m +5,594,165
5 JONES FINANCIAL COMPANIES LLLP 4.04% of their portfolio DES PERES, MO 36,488,27536.5m $2.7bn $2.7bn 4.04% Reduced -6.2m -6,163,195
6 LPL Financial LLC 1.53% of their portfolio FORT MILL, SC 34,196,93034.2m $2.5bn $2.5bn 1.53% Added +655.2k +655,158
7 VANGUARD GROUP INC 0.05% of their portfolio Valley Forge, PA 31,073,53331.1m $2.3bn $2.3bn 0.05% Added +5.8m +5,792,806
8 BANK OF AMERICA CORP /DE/ 0.17% of their portfolio CHARLOTTE, NC 20,066,43920.1m $1.5bn $1.5bn 0.17% Added +4.6m +4,621,526
9 WELLS FARGO & COMPANY/MN 0.40% of their portfolio SAN FRANCISCO, CA 19,231,51019.2m $1.4bn $1.4bn 0.40% Added +2.6m +2,621,687
10 ENVESTNET ASSET MANAGEMENT INC 0.57% of their portfolio Berwyn, PA 18,752,17218.8m $1.4bn $1.4bn 0.57% Added +104.9k +104,945
11 Morningstar Investment Services LLC 7.43% of their portfolio CHICAGO, IL 17,898,07217.9m $1.3bn $1.3bn 7.43% Added +8.5m +8,482,025
12 SEI INVESTMENTS CO 1.93% of their portfolio OAKS, PA 16,312,97116.3m $1.2bn $1.2bn 1.93% Added +426.7k +426,673
13 Allworth Financial LP 8.85% of their portfolio FOLSOM, CA 15,736,15415.7m $1.2bn $1.2bn 8.85% Added +522.0k +521,958
14 GOLDMAN SACHS GROUP INC 0.25% of their portfolio NEW YORK, NY 15,342,51615.3m $1.1bn $1.1bn 0.25% Reduced -267.3k -267,259
15 BlackRock Inc. 0.02% of their portfolio New York, NY 12,753,28912.8m $938.0m $938.0m 0.02% Added +20.1k +20,093
16 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.45% of their portfolio Toronto, A6 10,166,18210.2m $747.7m $747.7m 0.45% Added +2.2m +2,211,949
17 TEXAS TREASURY SAFEKEEPING TRUST CO 45.38% of their portfolio AUSTIN, TX 6,896,6406.9m $507.2m $507.2m 45.38% Added +6.1m +6,121,670
18 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 5,890,4205.9m $434.9m $434.9m 0.13% Added +953.3k +953,270
19 Bank of New York Mellon Corp 0.09% of their portfolio NEW YORK, NY 5,725,1005.7m $421.1m $421.1m 0.09% Reduced -35.9k -35,894
20 Orgel Wealth Management, LLC 10.62% of their portfolio ALTOONA, WI 4,882,3614.9m $359.1m $359.1m 10.62% Added +39.3k +39,292
21 PNC Financial Services Group, Inc. 0.28% of their portfolio Pittsburgh, PA 4,876,4734.9m $358.7m $358.7m 0.28% Added +42.3k +42,301
22 UBS Group AG 0.14% of their portfolio ZURICH, V8 4,773,2664.8m $351.1m $351.1m 0.14% Added +536.4k +536,449
23 OSAIC HOLDINGS, INC. 0.56% of their portfolio SCOTTSDALE, AZ 4,377,7844.4m $322.0m $322.0m 0.56% Reduced -1.2m -1,153,872
24 Facet Wealth, Inc. 10.85% of their portfolio WEST PALM BEACH, FL 3,889,9913.9m $283.0m $283.0m 10.85% Added +734.7k +734,718
25 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 3,574,3633.6m $262.9m $262.9m 0.01% Added +1.4m +1,390,233
26 CBIZ Investment Advisory Services, LLC 20.00% of their portfolio INDEPENDENCE, OH 3,573,0213.6m $262.8m $262.8m 20.00% Added +125.0k +125,019
27 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.07% of their portfolio SAN FRANCISCO, CA 3,521,6383.5m $259.0m $259.0m 0.07% Reduced -319.8k -319,776
28 ROYAL BANK OF CANADA 0.06% of their portfolio TORONTO, A6 3,379,0943.4m $248.5m $248.5m 0.06% Added +695.9k +695,903
29 Pure Financial Advisors, LLC 8.45% of their portfolio SAN DIEGO, CA 3,329,0403.3m $244.9m $244.9m 8.45% Added +356.1k +356,118
30 Global Endowment Management, LP 24.95% of their portfolio CHARLOTTE, NC 3,047,9003.0m $224.2m $224.2m 24.95% Reduced -106.0k -106,000
31 Envestnet Portfolio Solutions, Inc. 0.89% of their portfolio BERWYN, PA 2,900,2242.9m $213.3m $213.3m 0.89% Added +907.1k +907,130
32 TRUIST FINANCIAL CORP 0.34% of their portfolio CHARLOTTE, NC 2,887,1552.9m $212.4m $212.4m 0.34% Added +78.3k +78,261
33 HighTower Advisors, LLC 0.35% of their portfolio CHICAGO, IL 2,864,2162.9m $210.7m $210.7m 0.35% Added +685.1k +685,127
34 M&T Bank Corp 0.76% of their portfolio BUFFALO, NY 2,803,4882.8m $206.2m $206.2m 0.76% Added +132.0k +132,045
35 Raymond James Financial Services Advisors, Inc. 0.32% of their portfolio ST. PETERSBURG, FL 2,711,3262.7m $199.4m $199.4m 0.32% Added +158.4k +158,416
36 ASSETMARK, INC 0.69% of their portfolio CONCORD, CA 2,596,0052.6m $190.9m $190.9m 0.69% Reduced -58.2k -58,240
37 Cambridge Investment Research Advisors, Inc. 0.71% of their portfolio FAIRFIELD, IA 2,262,7182.3m $166.4m $166.4m 0.71% Reduced -84.4k -84,449
38 RiverFront Investment Group, LLC 5.00% of their portfolio RICHMOND, VA 2,166,5752.2m $159.4m $159.4m 5.00% Reduced -31.3k -31,297
39 Cetera Investment Advisers 1.28% of their portfolio SCHAUMBURG, IL 2,146,6232.1m $157.9m $157.9m 1.28% Reduced -54.0k -54,036
40 First Financial Bankshares Inc 3.76% of their portfolio Abilene, TX 2,130,0192.1m $156.7m $156.7m 3.76% First filing
41 PRUDENTIAL FINANCIAL INC 0.23% of their portfolio NEWARK, NJ 2,064,0182.1m $151.8m $151.8m 0.23% Added +372.0k +372,045
42 MISSION WEALTH MANAGEMENT, LP 4.87% of their portfolio Santa Barbara, CA 2,009,6582.0m $147.8m $147.8m 4.87% Added +157.0k +157,040
43 TIAA TRUST, NATIONAL ASSOCIATION 0.49% of their portfolio CHARLOTTE, NC 1,982,2522.0m $146.0m $146.0m 0.49% Added +411.0k +411,031
44 RFG Advisory, LLC 5.66% of their portfolio BIRMINGHAM, AL 1,972,7562.0m $145.1m $145.1m 5.66% Reduced -52.9k -52,934
45 Corient Private Wealth LP 0.26% of their portfolio MIAMI, FL 1,892,5521.9m $139.2m $139.2m 0.26% Reduced -19.2k -19,226
46 Cetera Advisor Networks LLC 0.77% of their portfolio EL SEGUNDO, CA 1,872,0981.9m $137.7m $137.7m 0.77% Added +5.4k +5,430
47 COMMONWEALTH EQUITY SERVICES, LLC 0.24% of their portfolio WALTHAM, MA 1,791,6571.8m $131.8m $131.8m 0.24% Added +96.9k +96,915
48 Acropolis Investment Management, LLC 9.09% of their portfolio ST. LOUIS, MO 1,770,0691.8m $130.5m $130.5m 9.09% Added +27.5k +27,452
49 Foster Group, Inc. 7.34% of their portfolio WEST DES MOINES, IA 1,720,5591.7m $120.1m $120.1m 7.34% Unchanged
50 MCMORGAN & CO LLC 20.85% of their portfolio SAN FRANCISCO, CA 1,708,5161.7m $125.7m $125.7m 20.85% Added +41.7k +41,727
51 RAYMOND JAMES & ASSOCIATES 0.09% of their portfolio ST PETERSBURG, FL 1,707,6981.7m $125.6m $125.6m 0.09% Reduced -6.9k -6,939
52 Savant Capital, LLC 1.60% of their portfolio ROCKFORD, IL 1,691,8731.7m $124.4m $124.4m 1.60% Added +364.7k +364,668
53 Alaska Permanent Capital Management, LLC 10.30% of their portfolio ANCHORAGE, AK 1,691,7781.7m $124.4m $124.4m 10.30% Reduced -29.9k -29,949
54 Diana Davis Spencer Foundation 44.78% of their portfolio BETHESDA, MD 1,608,1001.6m $118.3m $118.3m 44.78% Unchanged
55 Bogart Wealth, LLC 6.20% of their portfolio MCLEAN, VA 1,494,0691.5m $109.9m $109.9m 6.20% Added +45.4k +45,437
56 OAKWORTH CAPITAL, INC. 8.79% of their portfolio BIRMINGHAM, AL 1,490,2181.5m $109.6m $109.6m 8.79% New
57 Alesco Advisors, LLC, An ESL Co 3.81% of their portfolio Pittsford, NY 1,477,6801.5m $108.7m $108.7m 3.81% Added +22.6k +22,640
58 Betterment LLC 0.31% of their portfolio NEW YORK, NY 1,474,1291.5m $108.4m $108.4m 0.31% Reduced -20.1k -20,075
59 Capstone Financial Advisors, Inc. 7.39% of their portfolio DOWNERS GROVE, IL 1,403,8791.4m $103.3m $103.3m 7.39% Added +92.1k +92,110
60 Mariner, LLC 0.24% of their portfolio Overland Park, KS 1,403,7281.4m $103.2m $103.2m 0.24% Added +95.7k +95,737
61 Cerity Partners LLC 0.34% of their portfolio NEW YORK, NY 1,393,9981.4m $102.5m $102.5m 0.34% Added +1.1m +1,113,608
62 Voya Financial Advisors, Inc. 12.21% of their portfolio WINDSOR, CT 1,375,9121.4m $101.4m $101.4m 12.21% Added +68.1k +68,081
63 Stairway Partners, LLC 10.01% of their portfolio MINNEAPOLIS, MN 1,349,8201.3m $99.3m $99.3m 10.01% Reduced -309.2k -309,190
64 AMG National Trust Bank 3.07% of their portfolio GREENWOOD VILLAGE, CO 1,331,1301.3m $97.9m $97.9m 3.07% Added +44.0k +43,966
65 MML INVESTORS SERVICES, LLC 0.45% of their portfolio SPRINGFIELD, MA 1,313,0011.3m $96.6m $96.6m 0.45% Reduced -53.3k -53,260
66 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 8.04% of their portfolio KNOXVILLE, TN 1,281,3761.3m $94.2m $94.2m 8.04% Added +84.0k +83,977
67 Verus Financial Partners, Inc. 11.46% of their portfolio RICHMOND, VA 1,274,6131.3m $92.7m $92.7m 11.46% Added +7.9k +7,933
68 Efficient Advisors, LLC 6.23% of their portfolio BEAVERTON, OR 1,253,4761.3m $92.2m $92.2m 6.23% Reduced -245.8k -245,755
69 Chandler Asset Management, Inc. 21.01% of their portfolio SAN DIEGO, CA 1,241,1271.2m $91.3m $91.3m 21.01% Added +81.5k +81,528
70 Composition Wealth, LLC 2.46% of their portfolio LOS ANGELES, CA 1,222,3131.2m $89.9m $89.9m 2.46% Added +139.9k +139,860
71 Martel Wealth Advisors LLC 19.56% of their portfolio VANCOUVER, WA 1,170,8181.2m $86.1m $86.1m 19.56% Added +27.5k +27,525
72 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 2.07% of their portfolio MINNEAPOLIS, MN 1,131,9521.1m $83.3m $83.3m 2.07% Added +48.3k +48,340
73 Pacific Life Fund Advisors LLC 8.21% of their portfolio NEWPORT BEACH, CA 1,115,1981.1m $82.0m $82.0m 8.21% Reduced -36.8k -36,834
74 Wealthfront Advisers LLC 0.31% of their portfolio Palo Alto, CA 1,101,4161.1m $81.0m $81.0m 0.31% Added +8.5k +8,454
75 ALPS ADVISORS INC 0.62% of their portfolio Denver, CO 1,079,1821.1m $79.4m $79.4m 0.62% Reduced -4.6k -4,615
76 Symmetry Partners, LLC 4.21% of their portfolio GLASTONBURY, CT 1,059,7981.1m $77.9m $77.9m 4.21% Added +75.1k +75,132
77 Prime Capital Investment Advisors, LLC 1.14% of their portfolio OVERLAND PARK, KS 1,024,2491.0m $75.3m $75.3m 1.14% Added +218.1k +218,140
78 Beacon Pointe Advisors, LLC 0.88% of their portfolio NEWPORT BEACH, CA 1,002,5251.0m $73.7m $73.7m 0.88% Reduced -168.0k -167,968
79 Lutz Financial Services LLC 6.87% of their portfolio OMAHA, NE 995,245995.2k $73.2m $73.2m 6.87% Reduced -36.0k -35,998
80 Stratos Wealth Partners, LTD. 1.35% of their portfolio BEACHWOOD, OH 981,966982.0k $72.2m $72.2m 1.35% Added +212.1k +212,143
81 Baker Avenue Asset Management, LP 3.17% of their portfolio SAN FRANCISCO, CA 980,922980.9k $72.1m $72.1m 3.17% Added +965.9k +965,920
82 HORIZON BANCORP INC /IN/ 34.32% of their portfolio MICHIGAN CITY, IN 954,268954.3k $70.2m $70.2m 34.32% Added +134.7k +134,715
83 COMERICA BANK 0.32% of their portfolio DALLAS, TX 953,676953.7k $70.1m $70.1m 0.32% Added +107.4k +107,381
84 MA Private Wealth 14.76% of their portfolio SAN CARLOS, CA 941,616941.6k $69.3m $69.3m 14.76% Reduced -62.2k -62,204
85 CITIGROUP INC 0.09% of their portfolio NEW YORK, NY 933,650933.6k $68.7m $68.7m 0.09% Reduced -242.8k -242,762
86 Retirement Systems of Alabama 0.29% of their portfolio MONTGOMERY, AL 914,767914.8k $67.3m $67.3m 0.29% Added +357.5k +357,523
87 Apella Capital, LLC 3.71% of their portfolio WEST HARTFORD, CT 912,352912.4k $66.6m $66.6m 3.71% Added +66.0k +65,955
88 Alaska Wealth Advisors, LLC 11.09% of their portfolio ANCHORAGE, AK 905,618905.6k $66.6m $66.6m 11.09% Reduced -42.0k -41,976
89 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 899,175899.2k $66.1m $66.1m 0.03% Added +36.5k +36,463
90 Financial Advisors Network, Inc. 13.31% of their portfolio TUSTIN, CA 898,850898.9k $66.1m $66.1m 13.31% Reduced -19.2k -19,183
91 RAFFA WEALTH MANAGEMENT, LLC 19.90% of their portfolio WASHINGTON, DC 890,688890.7k $65.5m $65.5m 19.90% Added +4.0k +4,029
92 BURRUS FINANCIAL SERVICES, INC. 34.07% of their portfolio SALT LAKE CITY, UT 877,211877.2k $64.5m $64.5m 34.07% Reduced -175.9k -175,889
93 Financial Engines Advisors L.L.C. 0.15% of their portfolio SANTA CLARA, CA 861,991862.0k $63.4m $63.4m 0.15% Added +37.4k +37,394
94 Great Waters Wealth Management 10.84% of their portfolio SHOREVIEW, MN 833,842833.8k $61.1m $61.1m 10.84% Reduced -63.4k -63,400
95 FIRST CITIZENS BANK & TRUST CO 1.10% of their portfolio RALEIGH, NC 824,002824.0k $60.6m $60.6m 1.10% Added +807.5k +807,540
96 Vestmark Advisory Solutions, Inc. 3.08% of their portfolio Wakefield, MA 823,407823.4k $60.6m $60.6m 3.08% Added +252.6k +252,573
97 Retirement Planning Group, LLC 5.24% of their portfolio LEAWOOD, KS 795,207795.2k $58.5m $58.5m 5.24% Added +54.1k +54,116
98 Gilbert & Cook, Inc. 8.14% of their portfolio WEST DES MOINES, IA 782,037782.0k $57.5m $57.5m 8.14% Added +84.1k +84,134
99 ARMSTRONG ADVISORY GROUP, INC 5.37% of their portfolio NEEDHAM, MA 751,915751.9k $55.3m $55.3m 5.37% Added +365.8k +365,827
100 ALM First Financial Advisors, LLC 9.37% of their portfolio DALLAS, TX 750,000750.0k $55.2m $55.2m 9.37% Unchanged