Vault-13

VANGUARD WHITEHALL FDS VYM

HIGH DIV YLD · ETP · CUSIP 921946406

1,841 institutional holders +33 vs Q2 2025
177,260,995177.3m shares reported held*
$24.6bnreported value*
102 new 755 added 620 reduced 49 sold out net bought ≈ $1.3bn (+1.4m 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 ($15.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $138.78. Options: 10 managers hold calls ($289.0m notional), 4 hold puts ($23.4m).

Trends to Q3 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: 1,808Q3 25: 1,8411,841Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 20251,841

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 23: 630 bought or addedQ4 23: 681 cut or sold outQ1 24: 672 bought or addedQ1 24: 723 cut or sold outQ1 24Q2 24: 701 bought or addedQ2 24: 674 cut or sold outQ3 24: 789 bought or addedQ3 24: 592 cut or sold outQ3 24Q4 24: 774 bought or addedQ4 24: 633 cut or sold outQ1 25: 818 bought or addedQ1 25: 749 cut or sold outQ1 25Q2 25: 867 bought or addedQ2 25: 671 cut or sold outQ3 25: 857 bought or addedQ3 25: 669 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023630681
Q1 2024672723
Q2 2024701674
Q3 2024789592
Q4 2024774633
Q1 2025818749
Q2 2025867671
Q3 2025857669

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ4 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 0.10Q3 25 calls: $289.0mQ3 25 puts: $23.4mQ3 25P/C 0.08
Numbers
QuarterCallsPutsP/C
Q4 2024$112.7m$41.0m0.36
Q1 2025$266.9m$40.0m0.15
Q2 2025$283.0m$28.7m0.10
Q3 2025$289.0m$23.4m0.08

Biggest buyers

JPMORGAN CHASE & CO Added +5,306,318+5.3m
VANTAGEPOINT INVESTMENT ADVISERS LLC New +2,246,744+2.2m
Cetera Investment Advisers Added +678,326+678.3k
Cornerstone Planning Group LLC Added +525,740+525.7k
WELLINGTON MANAGEMENT GROUP LLP Added +496,110+496.1k
Corient Private Wealth LP Added +475,408+475.4k
Sanctuary Advisors, LLC Added +430,117+430.1k
AQR CAPITAL MANAGEMENT LLC Added +359,136+359.1k
LPL Financial LLC Added +309,006+309.0k
OSAIC HOLDINGS, INC. Added +268,522+268.5k

Biggest sellers

Gallagher Fiduciary Advisors, LLC Reduced -7,957,494-8.0m
ROYAL BANK OF CANADA Reduced -2,322,016-2.3m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,249,915-1.2m
UBS Group AG Reduced -292,891-292.9k
BANK OF AMERICA CORP /DE/ Reduced -175,539-175.5k
Rockefeller Capital Management L.P. Reduced -120,977-121.0k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -93,955-94.0k
Composition Wealth, LLC Reduced -83,238-83.2k
Vestmark Advisory Solutions, Inc. Reduced -73,179-73.2k
Custos Family Office, LLC Sold out -55,319-55.3k

Biggest calls

CITADEL ADVISORS LLC Added $157.5m1.1m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $48.7m345.8k shares
Twin Tree Management, LP Reduced $39.9m283.1k shares
JANE STREET GROUP, LLC Reduced $27.3m193.4k shares
Walleye Trading LLC Reduced $6.9m49.0k shares
IMC-Chicago, LLC Reduced $5.1m36.3k shares
WOLVERINE TRADING, LLC Added $2.9m20.9k shares
GROUP ONE TRADING LLC Unchanged $281.9k2.0k shares
Cubist Systematic Strategies, LLC New $253.7k1.8k shares
JPMORGAN CHASE & CO New $112.8k800 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $13.5m95.6k shares
CITADEL ADVISORS LLC Reduced $8.4m59.4k shares
WOLVERINE TRADING, LLC Reduced $815.0k5.8k shares
JANE STREET GROUP, LLC Reduced $775.2k5.5k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 11,901,83411.9m $1.7bn $1.7bn 0.13% Reduced -175.5k -175,539
2 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 10,545,38010.5m $1.5bn $1.5bn 0.05% Added +5.3m +5,306,318
3 MORGAN STANLEY 0.09% of their portfolio NEW YORK, NY 10,041,68510.0m $1.4bn $1.4bn 0.09% Added +67.6k +67,626
4 RAYMOND JAMES FINANCIAL INC 0.34% of their portfolio ST. PETERSBURG, FL 7,445,2527.4m $1.0bn $1.0bn 0.34% Reduced -45.8k -45,814
5 LPL Financial LLC 0.27% of their portfolio FORT MILL, SC 6,474,9906.5m $912.6m $912.6m 0.27% Added +309.0k +309,006
6 WELLS FARGO & COMPANY/MN 0.15% of their portfolio SAN FRANCISCO, CA 5,301,7565.3m $747.3m $747.3m 0.15% Added +219.7k +219,737
7 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 4,019,2624.0m $566.5m $566.5m 0.13% Added +64.1k +64,127
8 Creative Planning 0.39% of their portfolio OVERLAND PARK, KS 3,575,0363.6m $503.9m $503.9m 0.39% Reduced -28.1k -28,118
9 ENVESTNET ASSET MANAGEMENT INC 0.14% of their portfolio Berwyn, PA 3,423,1213.4m $482.5m $482.5m 0.14% Reduced -1.2m -1,249,915
10 UBS Group AG 0.08% of their portfolio ZURICH, V8 2,911,2832.9m $410.3m $410.3m 0.08% Reduced -292.9k -292,891
11 Wellspring Financial Advisors, LLC 6.78% of their portfolio CLEVELAND, OH 2,908,4292.9m $73.8m $73.8m 6.78% Added +120.5k +120,521
12 MERCER GLOBAL ADVISORS INC /ADV 0.62% of their portfolio DENVER, CO 2,646,1992.6m $373.0m $373.0m 0.62% Added +157.9k +157,950
13 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.31% of their portfolio Toronto, A6 2,634,4222.6m $371.3m $371.3m 0.31% Reduced -49.1k -49,117
14 Cetera Investment Advisers 0.41% of their portfolio SCHAUMBURG, IL 2,488,0882.5m $350.7m $350.7m 0.41% Added +678.3k +678,326
15 ROYAL BANK OF CANADA 0.06% of their portfolio TORONTO, A6 2,487,0742.5m $350.6m $350.6m 0.06% Reduced -2.3m -2,322,016
16 COMMONWEALTH EQUITY SERVICES, LLC 0.43% of their portfolio WALTHAM, MA 2,372,3252.4m $334.4m $334.4m 0.43% Reduced -94.0k -93,955
17 JONES FINANCIAL COMPANIES LLLP 0.22% of their portfolio DES PERES, MO 2,343,3262.3m $329.9m $329.9m 0.22% Added +200.1k +200,130
18 VANTAGEPOINT INVESTMENT ADVISERS LLC 2.59% of their portfolio WASHINGTON, DC 2,246,7442.2m $316.7m $316.7m 2.59% New
19 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 2,019,8672.0m $284.7m $284.7m 0.04% Added +68.6k +68,630
20 Janney Montgomery Scott LLC 0.62% of their portfolio PHILADELPHIA, PA 1,852,5591.9m $261.1m $261.1m 0.62% Added +15.4k +15,362
21 SCS Capital Management LLC 2.32% of their portfolio BOSTON, MA 1,511,2501.5m $213.0m $213.0m 2.32% Reduced -19.6k -19,576
22 Rakuten Investment Management, Inc. 0.71% of their portfolio TOKYO, M0 1,418,5541.4m $199.3m $199.3m 0.71% First filing
23 Pathstone Holdings, LLC 0.76% of their portfolio ENGLEWOOD, NJ 1,404,4261.4m $198.0m $198.0m 0.76% Reduced -8.5k -8,549
24 OSAIC HOLDINGS, INC. 0.27% of their portfolio SCOTTSDALE, AZ 1,370,7401.4m $192.0m $192.0m 0.27% Added +268.5k +268,522
25 STIFEL FINANCIAL CORP 0.18% of their portfolio ST. LOUIS, MO 1,365,1391.4m $192.4m $192.4m 0.18% Reduced -27.9k -27,873
26 HighTower Advisors, LLC 0.22% of their portfolio CHICAGO, IL 1,356,7381.4m $191.2m $191.2m 0.22% Added +42.0k +42,045
27 Howard Capital Management, LLC 2.11% of their portfolio Alpharetta, GA 1,132,9571.1m $159.7m $159.7m 2.11% Unchanged
28 Kestra Advisory Services, LLC 0.69% of their portfolio AUSTIN, TX 1,072,8831.1m $151.2m $151.2m 0.69% Added +11.4k +11,448
29 Cambridge Investment Research Advisors, Inc. 0.39% of their portfolio FAIRFIELD, IA 1,007,0581.0m $141.9m $141.9m 0.39% Added +58.3k +58,298
30 Joel Isaacson & Co., LLC 4.97% of their portfolio NEW YORK, NY 977,909977.9k $137.8m $137.8m 4.97% Added +8.8k +8,750
31 TRUIST FINANCIAL CORP 0.18% of their portfolio CHARLOTTE, NC 938,746938.7k $132.3m $132.3m 0.18% Added +8.2k +8,242
32 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 899,898899.9k $126.8m $126.8m 0.02% Reduced -46.6k -46,622
33 Wharton Business Group, LLC 5.49% of their portfolio MALVERN, PA 892,211892.2k $125.8m $125.8m 5.49% Reduced -2.1k -2,104
34 PNC Financial Services Group, Inc. 0.08% of their portfolio Pittsburgh, PA 891,435891.4k $125.6m $125.6m 0.08% Added +33.1k +33,142
35 Florida Trust Wealth Management Co 3.25% of their portfolio SANIBEL, FL 808,684808.7k $114.0m $114.0m 3.25% Reduced -1.5k -1,484
36 CAPTRUST FINANCIAL ADVISORS 0.23% of their portfolio RALEIGH, NC 798,012798.0k $112.5m $112.5m 0.23% Added +6.5k +6,541
37 D.A. DAVIDSON & CO. 0.69% of their portfolio GREAT FALLS, MT 761,156761.2k $107.3m $107.3m 0.69% Added +67.4k +67,412
38 Allworth Financial LP 0.45% of their portfolio FOLSOM, CA 729,231729.2k $102.8m $102.8m 0.45% Added +14.7k +14,700
39 Auto-Owners Insurance Co 2.64% of their portfolio LANSING, MI 724,200724.2k $102.1m $102.1m 2.64% Unchanged
40 Bell Bank 4.40% of their portfolio FARGO, ND 721,199721.2k $101.7m $101.7m 4.40% Added +9.5k +9,535
41 Martel Wealth Advisors LLC 17.49% of their portfolio VANCOUVER, WA 708,503708.5k $99.9m $99.9m 17.49% Added +16.1k +16,139
42 Corient Private Wealth LP 0.15% of their portfolio MIAMI, FL 687,917687.9k $95.6m $95.6m 0.15% Added +475.4k +475,408
43 One Day In July LLC 8.16% of their portfolio BURLINGTON, VT 684,310684.3k $96.5m $96.5m 8.16% Added +11.7k +11,700
44 Stratos Wealth Partners, LTD. 1.07% of their portfolio BEACHWOOD, OH 646,597646.6k $91.1m $91.1m 1.07% Added +238 +238
45 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 644,803644.8k $90.9m $90.9m 0.04% Added +110 +110
46 HCR Wealth Advisors 9.31% of their portfolio LOS ANGELES, CA 637,963638.0k $89.9m $89.9m 9.31% Added +12.0k +12,033
47 Sanctuary Advisors, LLC 0.26% of their portfolio INDIANAPOLIS, IN 633,755633.8k $85.4m $85.4m 0.26% Added +430.1k +430,117
48 Equitable Holdings, Inc. 0.64% of their portfolio NEW YORK, NY 620,954621.0k $87.5m $87.5m 0.64% Added +30.5k +30,547
49 Baird Financial Group, Inc. 0.14% of their portfolio MILWAUKEE, WI 598,929598.9k $84.4m $84.4m 0.14% Added +11.6k +11,574
50 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 596,737596.7k $84.1m $84.1m 0.01% Added +496.1k +496,110
51 SBI Securities Co., Ltd. 2.13% of their portfolio TOKYO, M0 589,598589.6k $83.1m $83.1m 2.13% Reduced -10.7k -10,650
52 MML INVESTORS SERVICES, LLC 0.22% of their portfolio SPRINGFIELD, MA 580,196580.2k $81.8m $81.8m 0.22% Added +4.2k +4,186
53 ASSETMARK, INC 0.17% of their portfolio CONCORD, CA 571,500571.5k $80.6m $80.6m 0.17% Added +2.0k +1,966
54 Cerity Partners LLC 0.13% of their portfolio NEW YORK, NY 560,018560.0k $78.9m $78.9m 0.13% Reduced -5.5k -5,502
55 Mariner, LLC 0.10% of their portfolio Overland Park, KS 555,838555.8k $78.3m $78.3m 0.10% Added +17.2k +17,168
56 Mesirow Financial Investment Management, Inc. 1.38% of their portfolio CHICAGO, IL 548,452548.5k $77.3m $77.3m 1.38% Reduced -21.6k -21,622
57 MARINO, STRAM & ASSOCIATES LLC 13.78% of their portfolio BRAINTREE, MA 543,702543.7k $76.6m $76.6m 13.78% Added +4.8k +4,787
58 PINNACLE ASSOCIATES LTD 1.01% of their portfolio NEW YORK, NY 537,726537.7k $75.8m $75.8m 1.01% Added +9.2k +9,202
59 Cornerstone Planning Group LLC 6.60% of their portfolio FAIRFIELD, NJ 526,662526.7k $41.2m $41.2m 6.60% Added +525.7k +525,740
60 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.10% of their portfolio PLYMOUTH, MN 489,614489.6k $69.1m $69.1m 0.10% Added +306 +306
61 Steward Partners Investment Advisory, LLC 0.38% of their portfolio STAMFORD, CT 475,125475.1k $67.0m $67.0m 0.38% Added +1.9k +1,947
62 White Lighthouse Investment Management Inc. 9.95% of their portfolio BEDFORD, MA 462,928462.9k $65.2m $65.2m 9.95% Added +6.8k +6,812
63 REGIONS FINANCIAL CORP 0.19% of their portfolio BIRMINGHAM, AL 447,435447.4k $59.7m $59.7m 0.19% Added +242.1k +242,119
64 Arlington Trust Co LLC 11.17% of their portfolio BIRMINGHAM, AL 440,208440.2k $62.0m $62.0m 11.17% Added +2.6k +2,607
65 INSPIRION WEALTH ADVISORS, LLC 7.74% of their portfolio LIBERTYVILLE, IL 431,306431.3k $55.3m $55.3m 7.74% Reduced -25.7k -25,725
66 AQR CAPITAL MANAGEMENT LLC 0.04% of their portfolio Greenwich, CT 401,576401.6k $56.6m $56.6m 0.04% Added +359.1k +359,136
67 Smithfield Trust Co 2.49% of their portfolio PITTSBURGH, PA 395,220395.2k $55.7m $55.7m 2.49% Reduced -7.8k -7,791
68 Private Advisor Group, LLC 0.27% of their portfolio MORRISTOWN, NJ 383,952384.0k $54.1m $54.1m 0.27% Added +6.1k +6,092
69 HANCOCK WHITNEY CORP 0.95% of their portfolio GULFPORT, MS 369,198369.2k $52.0m $52.0m 0.95% Reduced -14.1k -14,093
70 Operose Advisors LLC 12.32% of their portfolio MILWAUKEE, WI 350,785350.8k $49.4m $49.4m 12.32% Reduced -2.0k -1,973
71 Cornerstone Advisory, LLC 4.80% of their portfolio HUNT VALLEY, MD 346,694346.7k $48.9m $48.9m 4.80% Added +9.6k +9,581
72 Waverly Advisors, LLC 0.49% of their portfolio BIRMINGHAM, AL 346,584346.6k $48.9m $48.9m 0.49% Added +7.5k +7,499
73 Waldron Private Wealth LLC 1.97% of their portfolio BRIDGEVILLE, PA 344,948344.9k $48.6m $48.6m 1.97% Reduced -5.7k -5,672
74 Baltimore-Washington Financial Advisors, Inc. 2.00% of their portfolio Columbia, MD 330,252330.3k $46.5m $46.5m 2.00% Added +8.2k +8,175
75 NewEdge Advisors, LLC 0.21% of their portfolio NEW ORLEANS, LA 327,516327.5k $46.2m $46.2m 0.21% Added +26.3k +26,272
76 MBM WEALTH CONSULTANTS, LLC 11.46% of their portfolio CHESTERFIELD, MO 327,366327.4k $46.1m $46.1m 11.46% Reduced -1.1k -1,083
77 Zhang Financial LLC 1.82% of their portfolio PORTAGE, MI 316,988317.0k $44.7m $44.7m 1.82% Added +21.6k +21,571
78 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 305,006305.0k $43.0m $43.0m 0.03% Added +11.5k +11,526
79 Round Rock Advisors LLC 6.77% of their portfolio WILTON, CT 303,037303.0k $42.7m $42.7m 6.77% Added +6.3k +6,252
80 Pinnacle Wealth Management Advisory Group, LLC 3.19% of their portfolio RED BANK, NJ 301,424301.4k $42.5m $42.5m 3.19% Added +4.7k +4,665
81 MONETA GROUP INVESTMENT ADVISORS LLC 0.34% of their portfolio ST LOUIS, MO 301,139301.1k $42.4m $42.4m 0.34% Added +36.8k +36,830
82 M&T Bank Corp 0.14% of their portfolio BUFFALO, NY 298,678298.7k $42.1m $42.1m 0.14% Reduced -6.8k -6,825
83 Twele Capital Management, Inc. 7.71% of their portfolio MINNETONKA, MN 296,573296.6k $41.8m $41.8m 7.71% Added +5.5k +5,460
84 Apella Capital, LLC 0.87% of their portfolio WEST HARTFORD, CT 280,579280.6k $39.1m $39.1m 0.87% Added +211.8k +211,809
85 Wealthspire Advisors, LLC 0.21% of their portfolio NEW YORK, NY 279,422279.4k $39.4m $39.4m 0.21% Added +8.4k +8,444
86 Merit Financial Group, LLC 0.35% of their portfolio ALPHARETTA, GA 271,703271.7k $38.3m $38.3m 0.35% Added +11.8k +11,821
87 SEI INVESTMENTS CO 0.04% of their portfolio OAKS, PA 269,949269.9k $38.0m $38.0m 0.04% Added +14.6k +14,637
88 DAVENPORT & Co LLC 0.20% of their portfolio RICHMOND, VA 269,703269.7k $38.0m $38.0m 0.20% Added +13.6k +13,591
89 Heartwood Wealth Advisors LLC 3.48% of their portfolio RICHMOND, VA 264,618264.6k $37.3m $37.3m 3.48% Added +3.2k +3,221
90 ACT WEALTH MANAGEMENT, LLC 13.05% of their portfolio PLANO, TX 264,209264.2k $37.2m $37.2m 13.05% Added +11.4k +11,404
91 FMR LLC 0.00% of their portfolio BOSTON, MA 264,117264.1k $37.2m $37.2m 0.00% Added +40.2k +40,158
92 KEYBANK NATIONAL ASSOCIATION/OH 0.13% of their portfolio BROOKLYN, OH 253,310253.3k $35.7m $35.7m 0.13% Reduced -116 -116
93 NEW ENGLAND ASSET MANAGEMENT INC 4.62% of their portfolio FARMINGTON, CT 250,940250.9k $35.4m $35.4m 4.62% Added +4.4k +4,360
94 Buska Wealth Management, LLC 10.57% of their portfolio WAUSAU, WI 249,951250.0k $35.2m $35.2m 10.57% Reduced -46.7k -46,720
95 Human Investing LLC 5.13% of their portfolio LAKE OSWEGO, OR 246,276246.3k $34.7m $34.7m 5.13% Reduced -4.4k -4,424
96 Crews Bank & Trust 4.95% of their portfolio PORT CHARLOTTE, FL 239,996240.0k $33.8m $33.8m 4.95% Added +4.8k +4,847
97 OLD NATIONAL BANCORP /IN/ 0.56% of their portfolio EVANSVILLE, IN 232,592232.6k $32.8m $32.8m 0.56% Reduced -7.1k -7,147
98 Lido Advisors, LLC 0.13% of their portfolio Los Angeles, CA 229,990230.0k $32.4m $32.4m 0.13% Added +502 +502
99 Conservest Capital Advisors, Inc. 2.99% of their portfolio WYNNEWOOD, PA 229,075229.1k $32.3m $32.3m 2.99% Added +888 +888
100 Beacon Pointe Advisors, LLC 0.27% of their portfolio NEWPORT BEACH, CA 227,071227.1k $32.0m $32.0m 0.27% Reduced -1.1k -1,100