Vault-13

VANGUARD WHITEHALL FDS VWOB

EM MK GOV BD ETF · ETP · CUSIP 921946885

392 institutional holders +6 vs Q1 2025
61,845,23161.8m shares reported held*
$4.0bnreported value*
38 new 166 added 125 reduced 36 sold out net bought ≈ $132.0m (+2.0m 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 ($6.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $65.07. Options: 1 managers hold calls ($235.3k notional), 3 hold puts ($1.5m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 242Q4 22: 288Q1 23: 305Q2 23: 301Q3 23: 310Q4 23: 339Q1 24: 335Q2 24: 348Q3 24: 364Q4 24: 392Q1 25: 386Q2 25: 392392Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022242
Q4 2022288
Q1 2023305
Q2 2023301
Q3 2023310
Q4 2023339
Q1 2024335
Q2 2024348
Q3 2024364
Q4 2024392
Q1 2025386
Q2 2025392

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 153 bought or addedQ3 23: 127 cut or sold outQ4 23: 165 bought or addedQ4 23: 151 cut or sold outQ4 23Q1 24: 192 bought or addedQ1 24: 137 cut or sold outQ2 24: 190 bought or addedQ2 24: 137 cut or sold outQ2 24Q3 24: 198 bought or addedQ3 24: 144 cut or sold outQ4 24: 210 bought or addedQ4 24: 148 cut or sold outQ4 24Q1 25: 200 bought or addedQ1 25: 169 cut or sold outQ2 25: 204 bought or addedQ2 25: 161 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023153127
Q4 2023165151
Q1 2024192137
Q2 2024190137
Q3 2024198144
Q4 2024210148
Q1 2025200169
Q2 2025204161

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ3 24 calls: $0Q3 24 puts: $737.0kQ3 24P/C —Q4 24 calls: $0Q4 24 puts: $261.0kQ4 24P/C —Q1 25 calls: $0Q1 25 puts: $892.5kQ1 25P/C —Q2 25 calls: $235.3kQ2 25 puts: $1.5mQ2 25P/C 6.25
Numbers
QuarterCallsPutsP/C
Q3 2024$0$737.0k—
Q4 2024$0$261.0k—
Q1 2025$0$892.5k—
Q2 2025$235.3k$1.5m6.25

Biggest buyers

ROYAL BANK OF CANADA Added +3,265,701+3.3m
JONES FINANCIAL COMPANIES LLLP Added +604,578+604.6k
BANK OF AMERICA CORP /DE/ Added +373,680+373.7k
Kestra Investment Management, LLC Added +329,159+329.2k
ENVESTNET ASSET MANAGEMENT INC Added +294,023+294.0k
PNC Financial Services Group, Inc. Added +236,233+236.2k
Savant Capital, LLC Added +214,189+214.2k
JPMORGAN CHASE & CO Added +201,437+201.4k
Trust Co New +170,150+170.2k
MORGAN STANLEY Added +152,564+152.6k

Biggest sellers

Varma Mutual Pension Insurance Co Reduced -800,000-800.0k
EP Wealth Advisors, LLC Reduced -759,302-759.3k
AMERIPRISE FINANCIAL INC Reduced -707,997-708.0k
SUMITOMO LIFE INSURANCE CO Reduced -330,500-330.5k
POTOMAC FUND MANAGEMENT INC /ADV Sold out -269,193-269.2k
Sumitomo Mitsui DS Asset Management Company, Ltd Reduced -253,923-253.9k
Thrivent Financial for Lutherans Sold out -220,221-220.2k
Betterment LLC Reduced -187,101-187.1k
Onyx Bridge Wealth Group LLC Reduced -151,731-151.7k
ASSETMARK, INC Reduced -148,469-148.5k

Biggest calls

CITADEL ADVISORS LLC New $235.3k3.6k shares

Biggest puts

SIMPLEX TRADING, LLC Reduced $778.0k6.4k shares
CITADEL ADVISORS LLC New $692.7k10.6k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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 JONES FINANCIAL COMPANIES LLLP 0.74% of their portfolio DES PERES, MO 14,960,46815.0m $973.5m $973.5m 0.74% Added +604.6k +604,578
2 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 5,817,3405.8m $380.2m $380.2m 0.04% Added +3.3m +3,265,701
3 SEI INVESTMENTS CO 0.28% of their portfolio OAKS, PA 3,630,6123.6m $237.3m $237.3m 0.28% Added +126.4k +126,394
4 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 3,608,8313.6m $235.8m $235.8m 0.02% Added +201.4k +201,437
5 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 2,920,2632.9m $190.8m $190.8m 0.02% Added +373.7k +373,680
6 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 2,014,7922.0m $131.7m $131.7m 0.04% Added +294.0k +294,023
7 Betterment LLC 0.20% of their portfolio NEW YORK, NY 1,469,3001.5m $96.0m $96.0m 0.20% Reduced -187.1k -187,101
8 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,360,7081.4m $88.9m $88.9m 0.02% Reduced -16.1k -16,070
9 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 1,292,2261.3m $84.4m $84.4m 0.05% Added +236.2k +236,233
10 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,269,8701.3m $83.0m $83.0m 0.01% Added +152.6k +152,564
11 Varma Mutual Pension Insurance Co 0.60% of their portfolio Varma, H9 1,250,0001.2m $81.7m $81.7m 0.60% Reduced -800.0k -800,000
12 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,235,5011.2m $80.7m $80.7m 0.02% Reduced -1.2k -1,167
13 Savant Capital, LLC 0.56% of their portfolio ROCKFORD, IL 1,200,1261.2m $78.4m $78.4m 0.56% Added +214.2k +214,189
14 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,116,1181.1m $72.9m $72.9m 0.02% Reduced -708.0k -707,997
15 Bank Julius Baer & Co. Ltd, Zurich 0.17% of their portfolio ZURICH, V8 894,765894.8k $58.5m $58.5m 0.17% Unchanged
16 MATHER GROUP, LLC. 0.61% of their portfolio CHICAGO, IL 879,462879.5k $57.5m $57.5m 0.61% Added +22.4k +22,379
17 Sumitomo Mitsui DS Asset Management Company, Ltd 0.43% of their portfolio TOKYO, M0 721,520721.5k $47.2m $47.2m 0.43% Reduced -253.9k -253,923
18 UBS Group AG 0.01% of their portfolio ZURICH, V8 704,009704.0k $46.0m $46.0m 0.01% Reduced -11.3k -11,296
19 Kestra Investment Management, LLC 0.58% of their portfolio AUSTIN, TX 580,313580.3k $37.8m $37.8m 0.58% Added +329.2k +329,159
20 USS Investment Management Ltd 0.17% of their portfolio London, X0 420,000420.0k $27.4m $27.4m 0.17% Unchanged
21 Financial Gravity Companies, Inc. 2.48% of their portfolio Lakeway, TX 384,109384.1k $12.6m $12.6m 2.48% First filing
22 Allianz Investment Management U.S. LLC 1.07% of their portfolio Minneapolis, MN 377,100377.1k $24.6m $24.6m 1.07% Unchanged
23 Advisory Alpha, LLC 0.76% of their portfolio HOLLAND, MI 374,492374.5k $24.5m $24.5m 0.76% Reduced -7.3k -7,350
24 BlueSky Wealth Advisors, LLC 3.53% of their portfolio New Bern, NC 371,527371.5k $24.3m $24.3m 3.53% Reduced -819 -819
25 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 355,661355.7k $23.2m $23.2m 0.02% Reduced -113.8k -113,800
26 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 350,774350.8k $22.9m $22.9m 0.03% Reduced -95.2k -95,225
27 Full Sail Capital, LLC 1.28% of their portfolio OKLAHOMA CITY, OK 338,885338.9k $22.1m $22.1m 1.28% Added +17.8k +17,816
28 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 327,298327.3k $21.4m $21.4m 0.01% Added +39.0k +39,015
29 McIlrath & Eck, LLC 2.36% of their portfolio ARLINGTON, WA 315,795315.8k $20.6m $20.6m 2.36% Added +20.5k +20,468
30 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 307,750307.8k $20.1m $20.1m 0.01% Added +52.8k +52,798
31 CAPE COD FIVE CENTS SAVINGS BANK 1.70% of their portfolio HYANNIS, MA 279,578279.6k $18.6m $18.6m 1.70% Unchanged
32 Checchi Capital Advisers, LLC 1.18% of their portfolio BEVERLY HILLS, CA 258,306258.3k $16.9m $16.9m 1.18% Added +3.4k +3,397
33 Marotta Asset Management 3.18% of their portfolio CHARLOTTESVILLE, VA 242,492242.5k $15.8m $15.8m 3.18% Reduced -7.8k -7,836
34 REGIMEN WEALTH, LLC 4.51% of their portfolio ATLANTA, GA 222,180222.2k $14.5m $14.5m 4.51% Added +66.9k +66,859
35 Strategic Financial Services, Inc. 0.73% of their portfolio UTICA, NY 209,022209.0k $13.7m $13.7m 0.73% Added +2.9k +2,850
36 Keudell/Morrison Wealth Management 2.95% of their portfolio Salem, OR 203,772203.8k $13.3m $13.3m 2.95% Added +6.0k +5,980
37 BENJAMIN EDWARDS INC 0.17% of their portfolio Clayton, MO 203,579203.6k $13.3m $13.3m 0.17% Added +6.2k +6,208
38 Financial Alternatives, Inc 8.47% of their portfolio LA JOLLA, CA 199,070199.1k $13.0m $13.0m 8.47% Added +5.3k +5,319
39 Marion Wealth Management 3.12% of their portfolio MONROEVILLE, PA 190,847190.8k $12.5m $12.5m 3.12% Added +4.1k +4,107
40 Columbus Macro, LLC 1.51% of their portfolio NEW CASTLE, PA 189,360189.4k $12.4m $12.4m 1.51% Reduced -1.0k -1,012
41 ASSETMARK, INC 0.03% of their portfolio CONCORD, CA 180,414180.4k $11.8m $11.8m 0.03% Reduced -148.5k -148,469
42 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 178,067178.1k $11.6m $11.6m 0.02% Reduced -39 -39
43 Trust Co 1.25% of their portfolio MANHATTAN, KS 170,150170.2k $11.1m $11.1m 1.25% New
44 FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC 0.56% of their portfolio Greenbrae, CA 166,992167.0k $10.9m $10.9m 0.56% Reduced -2.3k -2,290
45 W.G. Shaheen & Associates DBA Whitney & Co 0.99% of their portfolio ROCHESTER, NY 152,761152.8k $10.0m $10.0m 0.99% Reduced -65.0k -65,021
46 TD PRIVATE CLIENT WEALTH LLC 0.24% of their portfolio NEW YORK, NY 150,058150.1k $9.8m $9.8m 0.24% Added +3.2k +3,176
47 Hurlow Wealth Management Group, Inc. 2.66% of their portfolio BLOOMINGTON, IN 144,191144.2k $9.4m $9.4m 2.66% Added +10.9k +10,883
48 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 140,800140.8k $9.2m $9.2m 0.01% Added +30.5k +30,500
49 Avior Wealth Management, LLC 0.31% of their portfolio OMAHA, NE 136,292136.3k $8.9m $8.9m 0.31% Added +3.1k +3,128
50 FLOW TRADERS U.S. LLC 0.32% of their portfolio NEW YORK, NY 132,952133.0k $8.7m $8.7m 0.32% Added +109.8k +109,818
51 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 131,111131.1k $8.6m $8.6m 0.01% Added +7.4k +7,386
52 Hilltop Partners LLC 2.48% of their portfolio MISHAWAKA, IN 125,526125.5k $8.2m $8.2m 2.48% Reduced -25.9k -25,863
53 North Ridge Wealth Advisors, Inc. 4.95% of their portfolio BEAVERTON, OR 123,320123.3k $8.1m $8.1m 4.95% Added +3.0k +2,963
54 BlackRock, Inc. 0.00% of their portfolio New York, NY 122,160122.2k $8.0m $8.0m 0.00% Added +1.5k +1,457
55 Mariner, LLC 0.01% of their portfolio Overland Park, KS 121,510121.5k $7.9m $7.9m 0.01% Reduced -1.9k -1,948
56 New York Life Investment Management LLC 0.07% of their portfolio New York, NY 118,572118.6k $7.7m $7.7m 0.07% Added +12.3k +12,342
57 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 112,709112.7k $7.4m $7.4m 0.02% Added +15.9k +15,902
58 Tidal Investments LLC 0.05% of their portfolio Milwaukee, WI 111,041111.0k $7.2m $7.2m 0.05% Added +83.9k +83,879
59 SUMITOMO LIFE INSURANCE CO 0.49% of their portfolio TOKYO, M0 110,200110.2k $7.2m $7.2m 0.49% Reduced -330.5k -330,500
60 Mirae Asset Global Investments Co., Ltd. 0.02% of their portfolio SEOUL, M5 109,000109.0k $7.1m $7.1m 0.02% Added +20.0k +20,000
61 City State Bank 2.21% of their portfolio NORWALK, IA 108,099108.1k $7.1m $7.1m 2.21% Added +160 +160
62 OneDigital Investment Advisors LLC 0.08% of their portfolio OVERLAND PARK, KS 104,216104.2k $6.8m $6.8m 0.08% Reduced -19.1k -19,134
63 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 103,236103.2k $6.7m $6.7m 0.01% Reduced -1.4k -1,370
64 NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio NEW YORK, NY 102,612102.6k $6.7m $6.7m 0.01% Reduced -19.0k -19,036
65 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 99,47199.5k $6.5m $6.5m 0.01% Added +87.7k +87,739
66 Robinswood Financial LLC 2.30% of their portfolio KIRKLAND, WA 99,47099.5k $6.5m $6.5m 2.30% Reduced -1.9k -1,888
67 EP Wealth Advisors, LLC 0.04% of their portfolio TORRANCE, CA 98,49098.5k $6.4m $6.4m 0.04% Reduced -759.3k -759,302
68 Simplicity Wealth,LLC 0.25% of their portfolio SUMMIT, NJ 91,98692.0k $6.0m $6.0m 0.25% Added +54.3k +54,333
69 Merit Financial Group, LLC 0.07% of their portfolio ALPHARETTA, GA 91,00291.0k $5.9m $5.9m 0.07% Added +55.8k +55,823
70 GP Brinson Investments LLC 2.41% of their portfolio Chicago, IL 86,48086.5k $5.7m $5.7m 2.41% Unchanged
71 BROWN WEALTH MANAGEMENT, LLC 1.71% of their portfolio NAPERVILLE, IL 84,49284.5k $5.5m $5.5m 1.71% Reduced -260 -260
72 Sanctuary Advisors, LLC 0.03% of their portfolio INDIANAPOLIS, IN 84,33484.3k $5.5m $5.5m 0.03% Added +1.5k +1,543
73 Custos Family Office, LLC 1.64% of their portfolio AUSTIN, TX 78,51878.5k $5.1m $5.1m 1.64% Reduced -273 -273
74 Ameraudi Asset Management, Inc. 2.64% of their portfolio New York, NY 76,99077.0k $5.0m $5.0m 2.64% Added +4.8k +4,835
75 L2 Asset Management, LLC 0.82% of their portfolio Wayland, MA 76,80676.8k $5.0m $5.0m 0.82% Added +3.5k +3,526
76 Versant Capital Management, Inc 0.73% of their portfolio PHOENIX, AZ 73,59173.6k $4.8m $4.8m 0.73% Reduced -54.5k -54,461
77 Royal Fund Management, LLC 0.50% of their portfolio Lady Lake, FL 71,25271.3k $4.7m $4.7m 0.50% Added +2.6k +2,566
78 AMERICAN FINANCIAL & TAX STRATEGIES INC 2.37% of their portfolio NEW YORK, NY 70,28670.3k $4.6m $4.6m 2.37% Reduced -723 -723
79 Nilsine Partners, LLC 0.46% of their portfolio GREENWOOD VILLAGE, CO 69,54169.5k $4.5m $4.5m 0.46% Added +3.0k +3,048
80 CWM, LLC 0.02% of their portfolio OMAHA, NE 68,65968.7k $4.5m $4.5m 0.02% Reduced -3.3k -3,317
81 LFA - Lugano Financial Advisors SA 2.61% of their portfolio LUGANO, V8 68,05768.1k $4.4m $4.4m 2.61% Reduced -2.9k -2,898
82 KITCHING PARTNERS, LLC 4.51% of their portfolio CONSHOHOCKEN, PA 67,95768.0k $4.4m $4.4m 4.51% Added +892 +892
83 Transamerica Financial Advisors, LLC 0.41% of their portfolio CEDAR RAPIDS, IA 66,81766.8k $4.4m $4.4m 0.41% Reduced -1.2k -1,182
84 David Kennon Inc 1.63% of their portfolio SARASOTA, FL 66,79566.8k $4.4m $4.4m 1.63% Added +40 +40
85 Modera Wealth Management, LLC 0.05% of their portfolio WESTWOOD, NJ 65,10665.1k $4.3m $4.3m 0.05% Reduced -1.3k -1,279
86 Perigon Wealth Management, LLC 0.09% of their portfolio SAN FRANCISCO, CA 61,93561.9k $4.0m $4.0m 0.09% Added +5.2k +5,204
87 DIVERSIFY WEALTH MANAGEMENT, LLC 0.25% of their portfolio SANDY, UT 60,85660.9k $4.0m $4.0m 0.25% Added +3.5k +3,489
88 GRIES FINANCIAL LLC 0.72% of their portfolio Cleveland, OH 60,36060.4k $3.9m $3.9m 0.72% Added +2.9k +2,946
89 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 59,23259.2k $3.9m $3.9m 0.02% Added +9.2k +9,206
90 Regal Investment Advisors LLC 0.28% of their portfolio KENTWOOD, MI 56,92056.9k $3.7m $3.7m 0.28% Reduced -382 -382
91 SAGE RHINO CAPITAL LLC 0.77% of their portfolio MENLO PARK, CA 55,93755.9k $3.7m $3.7m 0.77% Added +1.7k +1,674
92 Stablepoint Partners, LLC 0.60% of their portfolio BRAINTREE, MA 53,94053.9k $3.5m $3.5m 0.60% Added +192 +192
93 Verde Capital Management 0.87% of their portfolio CLARKSTON, MI 53,84553.8k $3.5m $3.5m 0.87% Added +2.0k +1,955
94 Scissortail Wealth Management, LLC 0.84% of their portfolio TULSA, OK 53,26353.3k $3.5m $3.5m 0.84% Reduced -1.6k -1,561
95 Virtus Family Office LLC 4.45% of their portfolio EL PASO, TX 53,17953.2k $3.5m $3.5m 4.45% Added +16.1k +16,119
96 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 52,52352.5k $3.4m $3.4m 0.01% Reduced -769 -769
97 CENTRAL BANK & TRUST CO 0.56% of their portfolio LEXINGTON, KY 52,38952.4k $3.4m $3.4m 0.56% Reduced -10.7k -10,689
98 GenTrust, LLC 0.16% of their portfolio MIAMI, FL 51,71051.7k $3.4m $3.4m 0.16% Reduced -14.1k -14,089
99 SWAN Capital LLC 1.46% of their portfolio PENSACOLA, FL 51,46551.5k $3.4m $3.4m 1.46% Reduced -52.0k -51,956
100 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 50,06050.1k $3.3m $3.3m 0.01% Added +11.7k +11,719