Vault-13

VANGUARD WHITEHALL FDS VYM

HIGH DIV YLD · ETP · CUSIP 921946406

1,808 institutional holders +2 vs Q1 2025
176,685,456176.7m shares reported held*
$22.2bnreported value*
89 new 778 added 589 reduced 82 sold out net bought ≈ $4.5m (+7.9m 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 ($15.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $125.60. Options: 9 managers hold calls ($283.0m notional), 6 hold puts ($28.7m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,327Q4 22: 1,470Q1 23: 1,441Q2 23: 1,460Q3 23: 1,450Q4 23: 1,576Q1 24: 1,607Q2 24: 1,595Q3 24: 1,659Q4 24: 1,806Q1 25: 1,806Q2 25: 1,8081,808Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221,327
Q4 20221,470
Q1 20231,441
Q2 20231,460
Q3 20231,450
Q4 20231,576
Q1 20241,607
Q2 20241,595
Q3 20241,659
Q4 20241,806
Q1 20251,806
Q2 20251,808

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 23: 607 bought or addedQ3 23: 655 cut or sold outQ4 23: 630 bought or addedQ4 23: 681 cut or sold outQ4 23Q1 24: 672 bought or addedQ1 24: 723 cut or sold outQ2 24: 701 bought or addedQ2 24: 674 cut or sold outQ2 24Q3 24: 789 bought or addedQ3 24: 592 cut or sold outQ4 24: 774 bought or addedQ4 24: 633 cut or sold outQ4 24Q1 25: 818 bought or addedQ1 25: 749 cut or sold outQ2 25: 867 bought or addedQ2 25: 671 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023607655
Q4 2023630681
Q1 2024672723
Q2 2024701674
Q3 2024789592
Q4 2024774633
Q1 2025818749
Q2 2025867671

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 24 calls: $246.6mQ3 24 puts: $64.9mQ3 24P/C 0.26Q4 24 calls: $112.7mQ4 24 puts: $41.0mQ4 24P/C 0.36Q1 25 calls: $266.9mQ1 25 puts: $40.0mQ1 25P/C 0.15Q2 25 calls: $283.0mQ2 25 puts: $28.7mQ2 25P/C 0.10
Numbers
QuarterCallsPutsP/C
Q3 2024$246.6m$64.9m0.26
Q4 2024$112.7m$41.0m0.36
Q1 2025$266.9m$40.0m0.15
Q2 2025$283.0m$28.7m0.10

Biggest buyers

Gallagher Fiduciary Advisors, LLC Added +7,917,178+7.9m
ROYAL BANK OF CANADA Added +2,413,501+2.4m
LPL Financial LLC Added +405,680+405.7k
Auto-Owners Insurance Co Added +402,667+402.7k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +314,494+314.5k
HANCOCK WHITNEY CORP Added +285,879+285.9k
JONES FINANCIAL COMPANIES LLLP Added +260,637+260.6k
Cetera Investment Advisers Added +187,017+187.0k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +181,413+181.4k
RAYMOND JAMES FINANCIAL INC Added +178,904+178.9k

Biggest sellers

SUMITOMO LIFE INSURANCE CO Sold out -5,773,322-5.8m
JPMORGAN CHASE & CO Reduced -230,424-230.4k
Atria Wealth Solutions, Inc. Reduced -222,004-222.0k
TOWNSQUARE CAPITAL LLC Reduced -160,047-160.0k
Penserra Capital Management LLC Sold out -151,537-151.5k
PFG Advisors Sold out -131,089-131.1k
GOLDMAN SACHS GROUP INC Reduced -104,064-104.1k
Steward Partners Investment Advisory, LLC Reduced -99,697-99.7k
Hippocratic Financial Advisors, LLC Reduced -95,068-95.1k
Arkos Global Advisors Reduced -77,367-77.4k

Biggest calls

JANE STREET GROUP, LLC Added $119.5m896.2k shares
CITADEL ADVISORS LLC Added $57.1m428.7k shares
Twin Tree Management, LP Unchanged $49.3m370.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $40.9m307.1k shares
Walleye Trading LLC Added $9.3m69.4k shares
IMC-Chicago, LLC Reduced $5.4m40.3k shares
WOLVERINE TRADING, LLC Reduced $1.3m9.6k shares
GROUP ONE TRADING LLC Unchanged $266.6k2.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Added $14.0m105.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $10.8m81.0k shares
WOLVERINE TRADING, LLC Added $2.2m16.6k shares
JANE STREET GROUP, LLC Added $1.6m11.9k shares
Walleye Trading LLC Reduced $106.6k800 shares
UBS Group AG Unchanged $26.7k200 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 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 12,077,37312.1m $1.6bn $1.6bn 0.13% Reduced -65.0k -64,979
2 MORGAN STANLEY 0.09% of their portfolio NEW YORK, NY 9,974,05910.0m $1.3bn $1.3bn 0.09% Added +74.3k +74,311
3 Gallagher Fiduciary Advisors, LLC 0.02% of their portfolio ROLLING MEADOWS, IL 7,981,6878.0m $401.0k $401.0k 0.02% Added +7.9m +7,917,178
4 RAYMOND JAMES FINANCIAL INC 0.34% of their portfolio ST. PETERSBURG, FL 7,491,0667.5m $998.6m $998.6m 0.34% Added +178.9k +178,904
5 LPL Financial LLC 0.27% of their portfolio FORT MILL, SC 6,165,9846.2m $822.0m $822.0m 0.27% Added +405.7k +405,680
6 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 5,239,0625.2m $698.4m $698.4m 0.05% Reduced -230.4k -230,424
7 WELLS FARGO & COMPANY/MN 0.15% of their portfolio SAN FRANCISCO, CA 5,082,0195.1m $677.5m $677.5m 0.15% Reduced -46.8k -46,781
8 ROYAL BANK OF CANADA 0.06% of their portfolio TORONTO, A6 4,809,0904.8m $641.1m $641.1m 0.06% Added +2.4m +2,413,501
9 ENVESTNET ASSET MANAGEMENT INC 0.18% of their portfolio Berwyn, PA 4,673,0364.7m $623.0m $623.0m 0.18% Added +149.6k +149,645
10 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 3,955,1354.0m $527.7m $527.7m 0.13% Added +138.3k +138,262
11 Creative Planning 0.41% of their portfolio OVERLAND PARK, KS 3,603,1543.6m $480.3m $480.3m 0.41% Reduced -16.7k -16,695
12 UBS Group AG 0.09% of their portfolio ZURICH, V8 3,204,1743.2m $427.1m $427.1m 0.09% Added +120.4k +120,448
13 Wellspring Financial Advisors, LLC 6.43% of their portfolio CLEVELAND, OH 2,787,9082.8m $64.0m $64.0m 6.43% Added +15.7k +15,677
14 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.32% of their portfolio Toronto, A6 2,683,5392.7m $357.7m $357.7m 0.32% Added +314.5k +314,494
15 MERCER GLOBAL ADVISORS INC /ADV 0.74% of their portfolio DENVER, CO 2,488,2492.5m $331.5m $331.5m 0.74% Added +158.5k +158,535
16 COMMONWEALTH EQUITY SERVICES, LLC 0.43% of their portfolio WALTHAM, MA 2,466,2802.5m $328.8m $328.8m 0.43% Reduced -24.2k -24,180
17 JONES FINANCIAL COMPANIES LLLP 0.22% of their portfolio DES PERES, MO 2,143,1962.1m $284.1m $284.1m 0.22% Added +260.6k +260,637
18 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 1,951,2372.0m $260.1m $260.1m 0.04% Reduced -104.1k -104,064
19 Janney Montgomery Scott LLC 0.64% of their portfolio PHILADELPHIA, PA 1,837,1971.8m $244.9m $244.9m 0.64% Added +12.8k +12,773
20 Cetera Investment Advisers 0.41% of their portfolio SCHAUMBURG, IL 1,809,7621.8m $241.3m $241.3m 0.41% Added +187.0k +187,017
21 SCS Capital Management LLC 2.26% of their portfolio BOSTON, MA 1,530,8261.5m $204.1m $204.1m 2.26% Reduced -9.8k -9,844
22 Pathstone Holdings, LLC 0.74% of their portfolio ENGLEWOOD, NJ 1,412,9751.4m $188.4m $188.4m 0.74% Reduced -2.0k -1,988
23 STIFEL FINANCIAL CORP 0.18% of their portfolio ST. LOUIS, MO 1,393,0121.4m $185.7m $185.7m 0.18% Added +106.0k +105,971
24 HighTower Advisors, LLC 0.22% of their portfolio CHICAGO, IL 1,314,6931.3m $175.3m $175.3m 0.22% Added +21.4k +21,445
25 Howard Capital Management, LLC 2.26% of their portfolio Alpharetta, GA 1,132,9571.1m $151.0m $151.0m 2.26% Added +88.7k +88,723
26 OSAIC HOLDINGS, INC. 0.26% of their portfolio SCOTTSDALE, AZ 1,102,2181.1m $146.9m $146.9m 0.26% Added +55.1k +55,113
27 Kestra Advisory Services, LLC 0.69% of their portfolio AUSTIN, TX 1,061,4351.1m $141.5m $141.5m 0.69% Added +92.5k +92,532
28 Joel Isaacson & Co., LLC 5.25% of their portfolio NEW YORK, NY 969,159969.2k $129.2m $129.2m 5.25% Added +22.0k +22,016
29 Cambridge Investment Research Advisors, Inc. 0.38% of their portfolio FAIRFIELD, IA 948,760948.8k $126.5m $126.5m 0.38% Added +73.2k +73,230
30 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 946,520946.5k $126.2m $126.2m 0.02% Added +181.4k +181,413
31 TRUIST FINANCIAL CORP 0.18% of their portfolio CHARLOTTE, NC 930,504930.5k $124.0m $124.0m 0.18% Reduced -27.3k -27,332
32 Wharton Business Group, LLC 5.03% of their portfolio MALVERN, PA 894,315894.3k $119.2m $119.2m 5.03% Added +3.8k +3,797
33 PNC Financial Services Group, Inc. 0.07% of their portfolio Pittsburgh, PA 858,293858.3k $114.4m $114.4m 0.07% Reduced -33.4k -33,434
34 Florida Trust Wealth Management Co 3.32% of their portfolio SANIBEL, FL 810,168810.2k $108.0m $108.0m 3.32% Reduced -6.9k -6,888
35 CAPTRUST FINANCIAL ADVISORS 0.24% of their portfolio RALEIGH, NC 791,471791.5k $105.5m $105.5m 0.24% Added +10.9k +10,859
36 Auto-Owners Insurance Co 2.15% of their portfolio LANSING, MI 724,200724.2k $96.5m $96.5m 2.15% Added +402.7k +402,667
37 Allworth Financial LP 0.46% of their portfolio FOLSOM, CA 714,531714.5k $95.3m $95.3m 0.46% Added +19.1k +19,069
38 Bell Bank 4.42% of their portfolio FARGO, ND 711,664711.7k $94.9m $94.9m 4.42% Added +30.8k +30,788
39 D.A. DAVIDSON & CO. 0.65% of their portfolio GREAT FALLS, MT 693,744693.7k $92.5m $92.5m 0.65% Added +37.0k +36,950
40 Martel Wealth Advisors LLC 17.11% of their portfolio VANCOUVER, WA 692,364692.4k $92.3m $92.3m 17.11% Added +21.6k +21,586
41 One Day In July LLC 8.12% of their portfolio BURLINGTON, VT 672,610672.6k $89.7m $89.7m 8.12% Added +25.3k +25,329
42 Stratos Wealth Partners, LTD. 1.16% of their portfolio BEACHWOOD, OH 646,359646.4k $86.2m $86.2m 1.16% Added +19.6k +19,582
43 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 644,693644.7k $85.9m $85.9m 0.04% Added +4.7k +4,745
44 HCR Wealth Advisors 9.82% of their portfolio LOS ANGELES, CA 625,930625.9k $83.4m $83.4m 9.82% Added +21.5k +21,493
45 SBI Securities Co., Ltd. 2.30% of their portfolio TOKYO, M0 600,248600.2k $80.0m $80.0m 2.30% Reduced -20.9k -20,906
46 Equitable Holdings, Inc. 0.65% of their portfolio NEW YORK, NY 590,407590.4k $78.7m $78.7m 0.65% Added +58.2k +58,195
47 Baird Financial Group, Inc. 0.14% of their portfolio MILWAUKEE, WI 587,355587.4k $78.3m $78.3m 0.14% Added +103.4k +103,441
48 MML INVESTORS SERVICES, LLC 0.22% of their portfolio SPRINGFIELD, MA 576,010576.0k $76.8m $76.8m 0.22% Added +35.7k +35,661
49 Mesirow Financial Investment Management, Inc. 1.48% of their portfolio CHICAGO, IL 570,074570.1k $76.0m $76.0m 1.48% Added +4.0k +3,995
50 ASSETMARK, INC 0.18% of their portfolio CONCORD, CA 569,534569.5k $75.9m $75.9m 0.18% Reduced -56.2k -56,243
51 Cerity Partners LLC 0.13% of their portfolio NEW YORK, NY 565,520565.5k $75.4m $75.4m 0.13% Reduced -41.7k -41,688
52 MARINO, STRAM & ASSOCIATES LLC 14.50% of their portfolio BRAINTREE, MA 538,915538.9k $71.8m $71.8m 14.50% Added +2.2k +2,192
53 Mariner, LLC 0.10% of their portfolio Overland Park, KS 538,670538.7k $71.8m $71.8m 0.10% Added +853 +853
54 PINNACLE ASSOCIATES LTD 1.02% of their portfolio NEW YORK, NY 528,524528.5k $70.5m $70.5m 1.02% Added +9.9k +9,891
55 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.11% of their portfolio PLYMOUTH, MN 489,308489.3k $66.5m $66.5m 0.11% Reduced -9.8k -9,825
56 Steward Partners Investment Advisory, LLC 0.49% of their portfolio STAMFORD, CT 473,178473.2k $63.1m $63.1m 0.49% Reduced -99.7k -99,697
57 Northeast Financial Consultants Inc 2.54% of their portfolio WESTPORT, CT 465,351465.4k $62.0m $62.0m 2.54% Reduced -11.7k -11,717
58 INSPIRION WEALTH ADVISORS, LLC 8.06% of their portfolio LIBERTYVILLE, IL 457,031457.0k $60.9m $60.9m 8.06% Reduced -15 -15
59 White Lighthouse Investment Management Inc. 9.89% of their portfolio BEDFORD, MA 456,116456.1k $60.8m $60.8m 9.89% Added +14.2k +14,242
60 CW Advisors, LLC 0.57% of their portfolio BOSTON, MA 441,958442.0k $58.9m $58.9m 0.57% Added +17.5k +17,465
61 Arlington Trust Co LLC 11.39% of their portfolio BIRMINGHAM, AL 437,601437.6k $58.3m $58.3m 11.39% Reduced -910 -910
62 Smithfield Trust Co 2.54% of their portfolio PITTSBURGH, PA 403,011403.0k $53.7m $53.7m 2.54% Added +15.1k +15,056
63 HANCOCK WHITNEY CORP 0.98% of their portfolio GULFPORT, MS 383,291383.3k $51.1m $51.1m 0.98% Added +285.9k +285,879
64 Private Advisor Group, LLC 0.27% of their portfolio MORRISTOWN, NJ 377,860377.9k $50.4m $50.4m 0.27% Added +1.2k +1,180
65 Operose Advisors LLC 13.26% of their portfolio MILWAUKEE, WI 352,758352.8k $47.0m $47.0m 13.26% Reduced -394 -394
66 Waldron Private Wealth LLC 2.04% of their portfolio BRIDGEVILLE, PA 350,620350.6k $46.7m $46.7m 2.04% Reduced -2.6k -2,620
67 Waverly Advisors, LLC 0.50% of their portfolio BIRMINGHAM, AL 339,085339.1k $45.2m $45.2m 0.50% Added +4.6k +4,558
68 Cornerstone Advisory, LLC 4.83% of their portfolio HUNT VALLEY, MD 337,113337.1k $44.9m $44.9m 4.83% Added +6.8k +6,845
69 MBM WEALTH CONSULTANTS, LLC 11.72% of their portfolio CHESTERFIELD, MO 328,449328.4k $43.8m $43.8m 11.72% Added +6.8k +6,831
70 Baltimore-Washington Financial Advisors, Inc. 2.00% of their portfolio Columbia, MD 322,077322.1k $42.9m $42.9m 2.00% Reduced -7.5k -7,512
71 AVANTAX ADVISORY SERVICES, INC. 0.23% of their portfolio DALLAS, TX 314,722314.7k $42.0m $42.0m 0.23% Added +18.0k +17,996
72 M&T Bank Corp 0.14% of their portfolio BUFFALO, NY 305,503305.5k $40.7m $40.7m 0.14% Reduced -6.1k -6,149
73 NewEdge Advisors, LLC 0.21% of their portfolio NEW ORLEANS, LA 301,244301.2k $40.2m $40.2m 0.21% Added +3.1k +3,134
74 Round Rock Advisors LLC 6.82% of their portfolio WILTON, CT 296,785296.8k $39.6m $39.6m 6.82% Added +4.3k +4,288
75 Pinnacle Wealth Management Advisory Group, LLC 3.28% of their portfolio RED BANK, NJ 296,759296.8k $39.6m $39.6m 3.28% Added +4.6k +4,596
76 Buska Wealth Management, LLC 10.81% of their portfolio WAUSAU, WI 296,671296.7k $39.5m $39.5m 10.81% Added +29.3k +29,310
77 Zhang Financial LLC 1.82% of their portfolio PORTAGE, MI 295,417295.4k $39.4m $39.4m 1.82% Added +8.5k +8,471
78 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 293,480293.5k $39.1m $39.1m 0.03% Added +20.6k +20,596
79 Twele Capital Management, Inc. 7.70% of their portfolio MINNETONKA, MN 291,113291.1k $38.8m $38.8m 7.70% Added +3.2k +3,248
80 Wealthspire Advisors, LLC 0.20% of their portfolio NEW YORK, NY 270,978271.0k $36.1m $36.1m 0.20% Reduced -2.4k -2,412
81 Iron Horse Wealth Management, LLC 10.55% of their portfolio JOHSTON, IA 268,260268.3k $35.8m $35.8m 10.55% Added +5.5k +5,493
82 MONETA GROUP INVESTMENT ADVISORS LLC 0.42% of their portfolio ST LOUIS, MO 264,309264.3k $35.2m $35.2m 0.42% Reduced -76.0k -75,975
83 Heartwood Wealth Advisors LLC 3.64% of their portfolio RICHMOND, VA 261,397261.4k $34.8m $34.8m 3.64% Added +6.0k +6,034
84 Merit Financial Group, LLC 0.39% of their portfolio ALPHARETTA, GA 259,882259.9k $34.6m $34.6m 0.39% Added +38.3k +38,314
85 DAVENPORT & Co LLC 0.19% of their portfolio RICHMOND, VA 256,112256.1k $34.1m $34.1m 0.19% Added +20.6k +20,609
86 SEI INVESTMENTS CO 0.04% of their portfolio OAKS, PA 255,312255.3k $34.0m $34.0m 0.04% Added +12.8k +12,814
87 KEYBANK NATIONAL ASSOCIATION/OH 0.13% of their portfolio BROOKLYN, OH 253,426253.4k $33.8m $33.8m 0.13% Added +4.8k +4,808
88 ACT WEALTH MANAGEMENT, LLC 14.24% of their portfolio PLANO, TX 252,805252.8k $33.7m $33.7m 14.24% Added +6.5k +6,546
89 Human Investing LLC 5.27% of their portfolio LAKE OSWEGO, OR 250,700250.7k $33.4m $33.4m 5.27% Added +2.8k +2,818
90 NEW ENGLAND ASSET MANAGEMENT INC 5.11% of their portfolio FARMINGTON, CT 246,580246.6k $32.9m $32.9m 5.11% Reduced -2.5k -2,460
91 OLD NATIONAL BANCORP /IN/ 0.57% of their portfolio EVANSVILLE, IN 239,739239.7k $32.0m $32.0m 0.57% Added +59.0k +59,046
92 Rockefeller Capital Management L.P. 0.04% of their portfolio NEW YORK, NY 238,922238.9k $31.9m $31.9m 0.04% Added +126.2k +126,156
93 Crews Bank & Trust 4.93% of their portfolio PORT CHARLOTTE, FL 235,149235.1k $31.3m $31.3m 4.93% Added +10.1k +10,139
94 Lido Advisors, LLC 0.16% of their portfolio Los Angeles, CA 229,488229.5k $30.6m $30.6m 0.16% Reduced -7.4k -7,358
95 Conservest Capital Advisors, Inc. 3.00% of their portfolio WYNNEWOOD, PA 228,187228.2k $30.4m $30.4m 3.00% Reduced -3.2k -3,239
96 Beacon Pointe Advisors, LLC 0.32% of their portfolio NEWPORT BEACH, CA 228,171228.2k $30.4m $30.4m 0.32% Reduced -5.3k -5,272
97 BANK OF HAWAII 1.60% of their portfolio HONOLULU, HI 227,158227.2k $30.3m $30.3m 1.60% Reduced -61.8k -61,799
98 FMR LLC 0.00% of their portfolio BOSTON, MA 223,959224.0k $29.9m $29.9m 0.00% Added +4.9k +4,889
99 DeDora Capital, Inc. 7.71% of their portfolio Napa, CA 221,680221.7k $29.6m $29.6m 7.71% Added +12.3k +12,293
100 BEACON FINANCIAL GROUP 3.05% of their portfolio DALLAS, TX 220,047220.0k $29.3m $29.3m 3.05% Reduced -13.8k -13,768