Vault-13

VANGUARD WHITEHALL FDS VYM

HIGH DIV YLD · ETP · CUSIP 921946406

2,022 institutional holders +18 vs Q4 2025
188,440,319188.4m shares reported held*
$26.2bnreported value*
111 new 845 added 670 reduced 87 sold out net bought ≈ $421.9m (+11.8m 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 ($54.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $139.01. Options: 6 managers hold calls ($302.6m notional), 6 hold puts ($25.3m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 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: 1,841Q4 25: 2,004Q1 26: 2,0222,022Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q4 20252,004
Q1 20262,022

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 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 25Q4 25: 906 bought or addedQ4 25: 633 cut or sold outQ1 26: 956 bought or addedQ1 26: 757 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024701674
Q3 2024789592
Q4 2024774633
Q1 2025818749
Q2 2025867671
Q3 2025857669
Q4 2025906633
Q1 2026956757

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ2 25 calls: $283.0mQ2 25 puts: $28.7mQ2 25P/C 0.10Q3 25 calls: $289.0mQ3 25 puts: $23.4mQ3 25P/C 0.08Q4 25 calls: $249.6mQ4 25 puts: $24.0mQ4 25P/C 0.10Q1 26 calls: $302.6mQ1 26 puts: $25.3mQ1 26P/C 0.08
Numbers
QuarterCallsPutsP/C
Q2 2025$283.0m$28.7m0.10
Q3 2025$289.0m$23.4m0.08
Q4 2025$249.6m$24.0m0.10
Q1 2026$302.6m$25.3m0.08

Biggest buyers

Gallagher Fiduciary Advisors, LLC Added +8,750,384+8.8m
Rakuten Investment Management, Inc. Added +1,418,554+1.4m
UBS Group AG Added +844,133+844.1k
WELLS FARGO & COMPANY/MN Added +584,934+584.9k
JONES FINANCIAL COMPANIES LLLP Added +390,373+390.4k
Oasis Advisors, LLC New +262,386+262.4k
BANK OF AMERICA CORP /DE/ Added +229,521+229.5k
Creative Planning Added +220,398+220.4k
FIFTH THIRD BANCORP Added +218,605+218.6k
COMMERCE BANK Added +212,318+212.3k

Biggest sellers

CHARLES SCHWAB INVESTMENT MANAGEMENT INC Sold out -933,014-933.0k
Corient Private Wealth LP Reduced -729,546-729.5k
AMERIPRISE FINANCIAL INC Reduced -519,970-520.0k
UNITED SERVICES AUTOMOBILE ASSOCIATION Sold out -336,132-336.1k
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO Sold out -218,597-218.6k
IFG Advisory, LLC Reduced -216,018-216.0k
BNP PARIBAS FINANCIAL MARKETS Reduced -199,623-199.6k
AE Wealth Management LLC Reduced -171,671-171.7k
Ariston Services Group Reduced -157,818-157.8k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -147,712-147.7k

Biggest calls

JANE STREET GROUP, LLC Added $187.7m1.3m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $89.8m606.3k shares
CITADEL ADVISORS LLC Reduced $11.6m78.3k shares
IMC-Chicago, LLC Reduced $8.0m54.3k shares
Squarepoint Ops LLC New $3.3m22.1k shares
Point72 Asset Management, L.P. Reduced $2.2m14.8k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $15.7m106.2k shares
Squarepoint Ops LLC New $5.1m34.3k shares
CITADEL ADVISORS LLC Reduced $1.8m12.3k shares
Point72 Asset Management, L.P. Reduced $1.2m8.0k shares
JANE STREET GROUP, LLC Reduced $933.0k6.3k shares
LOGAN CAPITAL MANAGEMENT INC New $562.8k3.8k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.14% of their portfolio CHARLOTTE, NC 12,758,40112.8m $1.9bn $1.9bn 0.14% Added +229.5k +229,521
2 MORGAN STANLEY 0.09% of their portfolio NEW YORK, NY 10,354,56610.4m $1.5bn $1.5bn 0.09% Added +151.6k +151,570
3 Gallagher Fiduciary Advisors, LLC 0.01% of their portfolio ROLLING MEADOWS, IL 8,811,8818.8m $312.4k $312.4k 0.01% Added +8.8m +8,750,384
4 RAYMOND JAMES FINANCIAL INC 0.35% of their portfolio ST. PETERSBURG, FL 7,617,2637.6m $1.1bn $1.1bn 0.35% Reduced -102.7k -102,743
5 LPL Financial LLC 0.27% of their portfolio FORT MILL, SC 6,759,8866.8m $1.0bn $1.0bn 0.27% Reduced -60.2k -60,233
6 WELLS FARGO & COMPANY/MN 0.18% of their portfolio SAN FRANCISCO, CA 6,091,1916.1m $902.1m $902.1m 0.18% Added +584.9k +584,934
7 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 5,454,0005.5m $793.4m $793.4m 0.05% Added +91.0k +90,998
8 Creative Planning 0.39% of their portfolio OVERLAND PARK, KS 3,839,1523.8m $568.6m $568.6m 0.39% Added +220.4k +220,398
9 UBS Group AG 0.10% of their portfolio ZURICH, V8 3,722,3863.7m $551.3m $551.3m 0.10% Added +844.1k +844,133
10 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 3,667,8713.7m $543.4m $543.4m 0.13% Reduced -520.0k -519,970
11 ENVESTNET ASSET MANAGEMENT INC 0.14% of their portfolio Berwyn, PA 3,451,7293.5m $511.2m $511.2m 0.14% Added +967 +967
12 JONES FINANCIAL COMPANIES LLLP 0.21% of their portfolio DES PERES, MO 2,985,6573.0m $435.1m $435.1m 0.21% Added +390.4k +390,373
13 Wellspring Financial Advisors, LLC 5.03% of their portfolio CLEVELAND, OH 2,909,1772.9m $67.1m $67.1m 5.03% Reduced -69.3k -69,326
14 Rakuten Investment Management, Inc. 0.81% of their portfolio TOKYO, M0 2,837,1082.8m $398.6m $398.6m 0.81% Added +1.4m +1,418,554
15 MERCER GLOBAL ADVISORS INC /ADV 0.59% of their portfolio DENVER, CO 2,706,6552.7m $400.9m $400.9m 0.59% Reduced -45.1k -45,072
16 Cetera Investment Advisers 0.43% of their portfolio SCHAUMBURG, IL 2,699,9362.7m $399.9m $399.9m 0.43% Added +54.8k +54,785
17 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 2,476,6632.5m $366.8m $366.8m 0.07% Reduced -15.0k -14,967
18 COMMONWEALTH EQUITY SERVICES, LLC 0.50% of their portfolio WALTHAM, MA 2,392,9012.4m $354.4m $354.4m 0.50% Added +18.5k +18,527
19 VANTAGEPOINT INVESTMENT ADVISERS LLC 2.80% of their portfolio WASHINGTON, DC 2,229,0052.2m $330.1m $330.1m 2.80% Reduced -85.9k -85,906
20 Janney Montgomery Scott LLC 0.71% of their portfolio PHILADELPHIA, PA 1,949,8731.9m $288.8m $288.8m 0.71% Added +36.4k +36,434
21 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 1,860,6441.9m $275.6m $275.6m 0.04% Reduced -9.3k -9,256
22 SCS Capital Management LLC 2.30% of their portfolio BOSTON, MA 1,463,2171.5m $216.7m $216.7m 2.30% Reduced -42.0k -42,033
23 HighTower Advisors, LLC 0.23% of their portfolio CHICAGO, IL 1,455,1901.5m $215.5m $215.5m 0.23% Added +34.8k +34,835
24 Pathstone Holdings, LLC 0.82% of their portfolio ENGLEWOOD, NJ 1,399,1111.4m $207.2m $207.2m 0.82% Added +1.0k +1,004
25 OSAIC HOLDINGS, INC. 0.30% of their portfolio SCOTTSDALE, AZ 1,384,8421.4m $205.1m $205.1m 0.30% Reduced -70.2k -70,244
26 STIFEL FINANCIAL CORP 0.19% of their portfolio ST. LOUIS, MO 1,375,4661.4m $203.7m $203.7m 0.19% Reduced -91.2k -91,202
27 Kestra Advisory Services, LLC 0.71% of their portfolio AUSTIN, TX 1,260,8831.3m $186.7m $186.7m 0.71% Added +165.1k +165,083
28 Howard Capital Management, LLC 2.74% of their portfolio Alpharetta, GA 1,132,9571.1m $167.8m $167.8m 2.74% Unchanged
29 Cambridge Investment Research Advisors, Inc. 0.42% of their portfolio FAIRFIELD, IA 1,090,1121.1m $161.4m $161.4m 0.42% Reduced -118 -118
30 Joel Isaacson & Co., LLC 5.11% of their portfolio NEW YORK, NY 1,040,1531.0m $154.0m $154.0m 5.11% Added +12.4k +12,357
31 Auto-Owners Insurance Co 3.21% of their portfolio LANSING, MI 1,035,7001.0m $153.4m $153.4m 3.21% Unchanged
32 Baird Financial Group, Inc. 0.22% of their portfolio MILWAUKEE, WI 955,524955.5k $141.5m $141.5m 0.22% Added +26.7k +26,651
33 TRUIST FINANCIAL CORP 0.19% of their portfolio CHARLOTTE, NC 942,329942.3k $139.6m $139.6m 0.19% Added +7.2k +7,179
34 PNC Financial Services Group, Inc. 0.08% of their portfolio Pittsburgh, PA 913,105913.1k $135.2m $135.2m 0.08% Added +4.1k +4,105
35 Wharton Business Group, LLC 4.97% of their portfolio MALVERN, PA 889,433889.4k $131.7m $131.7m 4.97% Reduced -3.0k -3,034
36 D.A. DAVIDSON & CO. 0.78% of their portfolio GREAT FALLS, MT 868,479868.5k $128.6m $128.6m 0.78% Added +39.4k +39,369
37 CAPTRUST FINANCIAL ADVISORS 0.22% of their portfolio RALEIGH, NC 856,648856.6k $126.9m $126.9m 0.22% Added +36.4k +36,399
38 Florida Trust Wealth Management Co 3.27% of their portfolio SANIBEL, FL 789,676789.7k $117.0m $117.0m 3.27% Reduced -533 -533
39 Cerity Partners LLC 0.16% of their portfolio NEW YORK, NY 774,708774.7k $114.7m $114.7m 0.16% Added +13.1k +13,143
40 BANK OF MONTREAL /CAN/ 0.05% of their portfolio TORONTO, A6 752,342752.3k $111.4m $111.4m 0.05% Added +43.6k +43,621
41 Allworth Financial LP 0.45% of their portfolio FOLSOM, CA 749,545749.5k $111.0m $111.0m 0.45% Added +23.7k +23,701
42 Martel Wealth Advisors LLC 18.54% of their portfolio VANCOUVER, WA 735,340735.3k $108.9m $108.9m 18.54% Added +9.3k +9,339
43 One Day In July LLC 8.67% of their portfolio BURLINGTON, VT 731,082731.1k $108.3m $108.3m 8.67% Added +26.7k +26,695
44 Corient Private Wealth LP 0.15% of their portfolio MIAMI, FL 723,858723.9k $107.1m $107.1m 0.15% Reduced -729.5k -729,546
45 Equitable Holdings, Inc. 0.64% of their portfolio NEW YORK, NY 692,223692.2k $99.4m $99.4m 0.64% Added +39.0k +38,970
46 ASSETMARK, INC 0.20% of their portfolio CONCORD, CA 662,033662.0k $98.0m $98.0m 0.20% Reduced -36.0k -36,017
47 HCR Wealth Advisors 9.92% of their portfolio LOS ANGELES, CA 645,989646.0k $95.7m $95.7m 9.92% Added +3.9k +3,870
48 Stratos Wealth Partners, LTD. 1.06% of their portfolio BEACHWOOD, OH 627,878627.9k $93.0m $93.0m 1.06% Reduced -11.3k -11,306
49 INSPIRION WEALTH ADVISORS, LLC 10.83% of their portfolio LIBERTYVILLE, IL 586,809586.8k $86.9m $86.9m 10.83% Added +85.5k +85,485
50 SBI Securities Co., Ltd. 2.38% of their portfolio TOKYO, M0 586,333586.3k $86.8m $86.8m 2.38% Added +3.5k +3,533
51 Mariner, LLC 0.10% of their portfolio Overland Park, KS 583,072583.1k $86.3m $86.3m 0.10% Added +13.1k +13,104
52 MARINO, STRAM & ASSOCIATES LLC 14.89% of their portfolio BRAINTREE, MA 559,760559.8k $82.9m $82.9m 14.89% Added +10.0k +9,955
53 Mesirow Financial Investment Management, Inc. 1.32% of their portfolio CHICAGO, IL 552,464552.5k $81.8m $81.8m 1.32% Added +156.2k +156,199
54 PINNACLE ASSOCIATES LTD 1.05% of their portfolio NEW YORK, NY 550,774550.8k $81.6m $81.6m 1.05% Added +6.8k +6,845
55 Focus Partners Wealth 0.09% of their portfolio ST LOUIS, MO 527,222527.2k $78.1m $78.1m 0.09% Added +5.9k +5,939
56 MML INVESTORS SERVICES, LLC 0.21% of their portfolio SPRINGFIELD, MA 522,526522.5k $77.4m $77.4m 0.21% Reduced -104.6k -104,611
57 Steward Partners Investment Advisory, LLC 0.39% of their portfolio STAMFORD, CT 516,733516.7k $76.5m $76.5m 0.39% Added +36.5k +36,452
58 BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio PARIS, I0 501,305501.3k $74.2m $74.2m 0.05% Reduced -199.6k -199,623
59 Arlington Trust Co LLC 5.97% of their portfolio BIRMINGHAM, AL 457,412457.4k $67.7m $67.7m 5.97% Added +22.8k +22,776
60 AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio Greenwich, CT 439,845439.8k $65.1m $65.1m 0.03% Added +22.8k +22,783
61 Waverly Advisors, LLC 0.49% of their portfolio BIRMINGHAM, AL 437,000437.0k $64.7m $64.7m 0.49% Added +94.2k +94,199
62 Baltimore-Washington Financial Advisors, Inc. 2.69% of their portfolio Columbia, MD 421,193421.2k $62.4m $62.4m 2.69% Added +102.2k +102,237
63 Wealthcare Advisory Partners LLC 1.14% of their portfolio WEST CHESTER, PA 396,945396.9k $58.8m $58.8m 1.14% Added +77.5k +77,546
64 Smithfield Trust Co 2.55% of their portfolio PITTSBURGH, PA 396,206396.2k $58.7m $58.7m 2.55% Added +5.7k +5,697
65 White Lighthouse Investment Management Inc. 7.87% of their portfolio BEDFORD, MA 383,007383.0k $56.7m $56.7m 7.87% Reduced -88.8k -88,831
66 Private Advisor Group, LLC 0.27% of their portfolio MORRISTOWN, NJ 382,664382.7k $56.7m $56.7m 0.27% Added +5.8k +5,780
67 Waldron Private Wealth LLC 2.18% of their portfolio BRIDGEVILLE, PA 376,906376.9k $55.8m $55.8m 2.18% Added +39.6k +39,628
68 HANCOCK WHITNEY CORP 0.98% of their portfolio GULFPORT, MS 373,493373.5k $56.1m $56.1m 0.98% Added +2.3k +2,265
69 COMMERCE BANK 0.26% of their portfolio KANSAS CITY, MO 368,959369.0k $54.6m $54.6m 0.26% Added +212.3k +212,318
70 Cornerstone Advisory, LLC 4.96% of their portfolio HUNT VALLEY, MD 353,720353.7k $52.4m $52.4m 4.96% Added +8.2k +8,164
71 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 345,677345.7k $51.2m $51.2m 0.03% Added +22.6k +22,587
72 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.11% of their portfolio PLYMOUTH, MN 345,479345.5k $51.2m $51.2m 0.11% Reduced -147.7k -147,712
73 FMR LLC 0.00% of their portfolio BOSTON, MA 345,410345.4k $51.2m $51.2m 0.00% Added +49.7k +49,700
74 NewEdge Advisors, LLC 0.18% of their portfolio NEW ORLEANS, LA 337,471337.5k $50.0m $50.0m 0.18% Added +5.6k +5,644
75 DAVENPORT & Co LLC 0.28% of their portfolio RICHMOND, VA 335,331335.3k $49.7m $49.7m 0.28% Added +37.9k +37,928
76 MONETA GROUP INVESTMENT ADVISORS LLC 0.37% of their portfolio ST LOUIS, MO 332,863332.9k $49.3m $49.3m 0.37% Added +5.5k +5,475
77 MBM WEALTH CONSULTANTS, LLC 11.27% of their portfolio CHESTERFIELD, MO 331,376331.4k $49.1m $49.1m 11.27% Added +4.4k +4,386
78 KEYBANK NATIONAL ASSOCIATION/OH 0.18% of their portfolio BROOKLYN, OH 330,577330.6k $49.0m $49.0m 0.18% Added +51.1k +51,150
79 Zhang Financial LLC 1.69% of their portfolio PORTAGE, MI 329,681329.7k $48.8m $48.8m 1.69% Added +15.6k +15,633
80 Operose Advisors LLC 11.25% of their portfolio MILWAUKEE, WI 327,542327.5k $48.5m $48.5m 11.25% Reduced -13.1k -13,139
81 Round Rock Advisors LLC 7.09% of their portfolio WILTON, CT 312,896312.9k $46.3m $46.3m 7.09% Added +5.3k +5,263
82 Pinnacle Wealth Management Advisory Group, LLC 3.11% of their portfolio RED BANK, NJ 306,905306.9k $45.5m $45.5m 3.11% Added +1.9k +1,936
83 RWA WEALTH PARTNERS, LLC 0.49% of their portfolio BOSTON, MA 303,736303.7k $45.0m $45.0m 0.49% Added +14.5k +14,545
84 Twele Capital Management, Inc. 7.87% of their portfolio MINNETONKA, MN 298,225298.2k $44.2m $44.2m 7.87% Reduced -546 -546
85 Merit Financial Group, LLC 0.32% of their portfolio ALPHARETTA, GA 290,905290.9k $43.1m $43.1m 0.32% Added +12.4k +12,426
86 SEI INVESTMENTS CO 0.04% of their portfolio OAKS, PA 290,128290.1k $43.0m $43.0m 0.04% Added +9.1k +9,132
87 M&T Bank Corp 0.14% of their portfolio BUFFALO, NY 282,076282.1k $41.8m $41.8m 0.14% Reduced -29.1k -29,075
88 Apella Capital, LLC 0.63% of their portfolio WEST HARTFORD, CT 275,353275.4k $42.7m $42.7m 0.63% Reduced -14.1k -14,090
89 Heartwood Wealth Advisors LLC 3.47% of their portfolio RICHMOND, VA 268,922268.9k $39.8m $39.8m 3.47% Added +1.1k +1,118
90 ACT WEALTH MANAGEMENT, LLC 13.37% of their portfolio PLANO, TX 268,772268.8k $39.8m $39.8m 13.37% Reduced -1.9k -1,932
91 Beacon Pointe Advisors, LLC 0.21% of their portfolio NEWPORT BEACH, CA 267,243267.2k $39.6m $39.6m 0.21% Added +37.8k +37,806
92 Valmark Advisers, Inc. 0.46% of their portfolio AKRON, OH 263,015263.0k $39.0m $39.0m 0.46% Added +18.7k +18,683
93 Oasis Advisors, LLC 0.50% of their portfolio FOREST CITY, IA 262,386262.4k $2.6m $2.6m 0.50% New
94 Lido Advisors, LLC 0.15% of their portfolio Los Angeles, CA 258,466258.5k $38.3m $38.3m 0.15% Reduced -2.4k -2,361
95 NEW ENGLAND ASSET MANAGEMENT INC 4.85% of their portfolio FARMINGTON, CT 257,625257.6k $38.2m $38.2m 4.85% Added +6.7k +6,685
96 Alliance Wealth Advisors, LLC /UT 7.97% of their portfolio Centerville, UT 248,838248.8k $36.9m $36.9m 7.97% Added +98.0k +97,991
97 Human Investing LLC 5.35% of their portfolio LAKE OSWEGO, OR 247,921247.9k $36.7m $36.7m 5.35% Added +1.5k +1,458
98 Sanctuary Advisors, LLC 0.20% of their portfolio INDIANAPOLIS, IN 247,703247.7k $36.7m $36.7m 0.20% Added +3.9k +3,863
99 Crews Bank & Trust 5.29% of their portfolio PORT CHARLOTTE, FL 246,335246.3k $36.5m $36.5m 5.29% Reduced -1.7k -1,730
100 Focus Financial Network, Inc. 1.27% of their portfolio MINNEAPOLIS, MN 239,077239.1k $35.4m $35.4m 1.27% Added +6.8k +6,832