Vault-13

VANGUARD WHITEHALL FDS VWOB

EM MK GOV BD ETF · ETP · CUSIP 921946885

389 institutional holders -3 vs Q2 2025
56,363,04156.4m shares reported held*
$3.8bnreported value*
39 new 182 added 106 reduced 37 sold out net sold ≈ $328.8m (-4.9m 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 ($9.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $66.88. Options: 0 managers hold calls (— notional), 3 hold puts ($16.0m).

Trends to Q3 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: 392Q3 25: 389389Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025389

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 23: 165 bought or addedQ4 23: 151 cut or sold outQ1 24: 192 bought or addedQ1 24: 137 cut or sold outQ1 24Q2 24: 190 bought or addedQ2 24: 137 cut or sold outQ3 24: 198 bought or addedQ3 24: 144 cut or sold outQ3 24Q4 24: 210 bought or addedQ4 24: 148 cut or sold outQ1 25: 200 bought or addedQ1 25: 169 cut or sold outQ1 25Q2 25: 204 bought or addedQ2 25: 161 cut or sold outQ3 25: 221 bought or addedQ3 25: 143 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023165151
Q1 2024192137
Q2 2024190137
Q3 2024198144
Q4 2024210148
Q1 2025200169
Q2 2025204161
Q3 2025221143

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ4 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 6.25Q3 25 calls: $0Q3 25 puts: $16.0mQ3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$0$261.0k—
Q1 2025$0$892.5k—
Q2 2025$235.3k$1.5m6.25
Q3 2025$0$16.0m—

Biggest buyers

JPMORGAN CHASE & CO Added +4,570,381+4.6m
Betterment LLC Added +1,845,386+1.8m
BANK OF AMERICA CORP /DE/ Added +757,313+757.3k
MORGAN STANLEY Added +491,890+491.9k
AMERIPRISE FINANCIAL INC Added +484,959+485.0k
MERCER GLOBAL ADVISORS INC /ADV New +416,075+416.1k
ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORP New +387,800+387.8k
Greystone Financial Group, LLC New +325,004+325.0k
HighTower Advisors, LLC Added +312,857+312.9k
SUMITOMO LIFE INSURANCE CO Added +265,800+265.8k

Biggest sellers

JONES FINANCIAL COMPANIES LLLP Reduced -14,466,953-14.5m
ROYAL BANK OF CANADA Reduced -2,798,581-2.8m
Corient Private Wealth LP Sold out -350,774-350.8k
Kestra Investment Management, LLC Reduced -70,305-70.3k
Simplicity Wealth,LLC Reduced -47,584-47.6k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Sold out -43,815-43.8k
Geneos Wealth Management Inc. Sold out -42,324-42.3k
OVERSEA-CHINESE BANKING Corp Ltd Sold out -41,361-41.4k
Versant Capital Management, Inc Reduced -37,815-37.8k
Axiom Financial Strategies, LLC Sold out -36,875-36.9k

Biggest calls

None

Biggest puts

SIMPLEX TRADING, LLC Added $8.3m119.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $5.5m82.1k shares
CITADEL ADVISORS LLC Added $2.2m32.2k 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 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 8,179,2128.2m $547.2m $547.2m 0.02% Added +4.6m +4,570,381
2 SEI INVESTMENTS CO 0.27% of their portfolio OAKS, PA 3,755,9723.8m $251.3m $251.3m 0.27% Added +125.4k +125,360
3 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 3,677,5763.7m $246.0m $246.0m 0.02% Added +757.3k +757,313
4 Betterment LLC 0.44% of their portfolio NEW YORK, NY 3,314,6863.3m $221.8m $221.8m 0.44% Added +1.8m +1,845,386
5 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 3,018,7593.0m $202.0m $202.0m 0.04% Reduced -2.8m -2,798,581
6 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 2,059,2312.1m $137.8m $137.8m 0.04% Added +44.4k +44,439
7 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,761,7601.8m $117.9m $117.9m 0.01% Added +491.9k +491,890
8 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,601,0771.6m $107.1m $107.1m 0.02% Added +485.0k +484,959
9 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,346,9971.3m $90.1m $90.1m 0.02% Reduced -13.7k -13,711
10 Savant Capital, LLC 0.54% of their portfolio ROCKFORD, IL 1,328,9811.3m $88.9m $88.9m 0.54% Added +128.9k +128,855
11 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 1,307,9721.3m $87.5m $87.5m 0.05% Added +15.7k +15,746
12 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,284,5491.3m $85.9m $85.9m 0.02% Added +49.0k +49,048
13 Varma Mutual Pension Insurance Co 0.54% of their portfolio Varma, H9 1,250,0001.2m $83.6m $83.6m 0.54% Unchanged
14 Bank Julius Baer & Co. Ltd, Zurich 0.18% of their portfolio ZURICH, V8 934,174934.2k $62.5m $62.5m 0.18% Added +39.4k +39,409
15 MATHER GROUP, LLC. 0.61% of their portfolio CHICAGO, IL 909,109909.1k $60.8m $60.8m 0.61% Added +29.6k +29,647
16 Sumitomo Mitsui DS Asset Management Company, Ltd 0.48% of their portfolio TOKYO, M0 890,895890.9k $59.6m $59.6m 0.48% Added +169.4k +169,375
17 UBS Group AG 0.01% of their portfolio ZURICH, V8 721,563721.6k $48.3m $48.3m 0.01% Added +17.6k +17,554
18 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 577,461577.5k $38.6m $38.6m 0.03% Added +221.8k +221,800
19 Kestra Investment Management, LLC 0.92% of their portfolio AUSTIN, TX 510,008510.0k $34.1m $34.1m 0.92% Reduced -70.3k -70,305
20 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 493,515493.5k $33.0m $33.0m 0.02% Reduced -14.5m -14,466,953
21 USS Investment Management Ltd 0.14% of their portfolio London, X0 420,000420.0k $28.1m $28.1m 0.14% Unchanged
22 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 416,093416.1k $27.8m $27.8m 0.03% Added +312.9k +312,857
23 MERCER GLOBAL ADVISORS INC /ADV 0.05% of their portfolio DENVER, CO 416,075416.1k $27.8m $27.8m 0.05% New
24 Advisory Alpha, LLC 0.74% of their portfolio HOLLAND, MI 395,253395.3k $26.4m $26.4m 0.74% Added +20.8k +20,761
25 ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORP 1.13% of their portfolio Altamonte Springs, FL 387,800387.8k $25.9m $25.9m 1.13% New
26 BlueSky Wealth Advisors, LLC 3.41% of their portfolio New Bern, NC 377,876377.9k $25.3m $25.3m 3.41% Added +6.3k +6,349
27 Allianz Investment Management U.S. LLC 0.94% of their portfolio Minneapolis, MN 377,100377.1k $25.2m $25.2m 0.94% Unchanged
28 SUMITOMO LIFE INSURANCE CO 0.78% of their portfolio TOKYO, M0 376,000376.0k $25.2m $25.2m 0.78% Added +265.8k +265,800
29 McIlrath & Eck, LLC 2.39% of their portfolio ARLINGTON, WA 346,365346.4k $23.2m $23.2m 2.39% Added +30.6k +30,570
30 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 327,767327.8k $21.9m $21.9m 0.01% Added +469 +469
31 Full Sail Capital, LLC 1.21% of their portfolio OKLAHOMA CITY, OK 327,524327.5k $21.9m $21.9m 1.21% Reduced -11.4k -11,361
32 Greystone Financial Group, LLC 3.37% of their portfolio BLOOMFIELD HILLS, MI 325,004325.0k $21.7m $21.7m 3.37% New
33 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 317,558317.6k $21.2m $21.2m 0.01% Added +9.8k +9,808
34 Tidal Investments LLC 0.08% of their portfolio Milwaukee, WI 293,244293.2k $19.5m $19.5m 0.08% Added +182.2k +182,203
35 CAPE COD FIVE CENTS SAVINGS BANK 1.70% of their portfolio HYANNIS, MA 279,578279.6k $18.6m $18.6m 1.70% Unchanged
36 FLOW TRADERS U.S. LLC 0.75% of their portfolio NEW YORK, NY 278,225278.2k $18.6m $18.6m 0.75% Added +145.3k +145,273
37 Checchi Capital Advisers, LLC 1.28% of their portfolio BEVERLY HILLS, CA 278,209278.2k $18.6m $18.6m 1.28% Added +19.9k +19,903
38 ASSETMARK, INC 0.04% of their portfolio CONCORD, CA 273,950273.9k $18.3m $18.3m 0.04% Added +93.5k +93,536
39 Sanctuary Advisors, LLC 0.05% of their portfolio INDIANAPOLIS, IN 254,125254.1k $16.6m $16.6m 0.05% Added +169.8k +169,791
40 Trust Co 1.74% of their portfolio MANHATTAN, KS 253,799253.8k $17.0m $17.0m 1.74% Added +83.6k +83,649
41 Marotta Asset Management 3.06% of their portfolio CHARLOTTESVILLE, VA 243,449243.4k $16.3m $16.3m 3.06% Added +957 +957
42 REGIMEN WEALTH, LLC 4.49% of their portfolio ATLANTA, GA 226,161226.2k $15.1m $15.1m 4.49% Added +4.0k +3,981
43 BENJAMIN EDWARDS INC 0.16% of their portfolio Clayton, MO 215,216215.2k $14.4m $14.4m 0.16% Added +11.6k +11,637
44 Strategic Financial Services, Inc. 0.71% of their portfolio UTICA, NY 211,666211.7k $14.2m $14.2m 0.71% Added +2.6k +2,644
45 Columbus Macro, LLC 1.58% of their portfolio NEW CASTLE, PA 206,924206.9k $13.8m $13.8m 1.58% Added +17.6k +17,564
46 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 206,125206.1k $13.8m $13.8m 0.02% Added +28.1k +28,058
47 Financial Alternatives, Inc 8.35% of their portfolio LA JOLLA, CA 206,060206.1k $13.8m $13.8m 8.35% Added +7.0k +6,990
48 Financial Gravity Asset Management, Inc. 2.69% of their portfolio Lakeway, TX 204,305204.3k $13.7m $13.7m 2.69% First filing
49 Marion Wealth Management 3.07% of their portfolio MONROEVILLE, PA 193,260193.3k $12.9m $12.9m 3.07% Added +2.4k +2,413
50 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 176,414176.4k $11.8m $11.8m 0.02% Added +35.6k +35,614
51 FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC 0.55% of their portfolio Greenbrae, CA 162,202162.2k $10.9m $10.9m 0.55% Reduced -4.8k -4,790
52 NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio NEW YORK, NY 161,168161.2k $10.8m $10.8m 0.01% Added +58.6k +58,556
53 Hurlow Wealth Management Group, Inc. 2.70% of their portfolio BLOOMINGTON, IN 155,983156.0k $10.4m $10.4m 2.70% Added +11.8k +11,792
54 W.G. Shaheen & Associates DBA Whitney & Co 0.93% of their portfolio ROCHESTER, NY 153,861153.9k $10.3m $10.3m 0.93% Added +1.1k +1,100
55 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 141,306141.3k $9.5m $9.5m 0.01% Added +10.2k +10,195
56 Avior Wealth Management, LLC 0.30% of their portfolio OMAHA, NE 141,214141.2k $9.4m $9.4m 0.30% Added +4.9k +4,922
57 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 130,549130.5k $8.7m $8.7m 0.02% Added +17.8k +17,840
58 Hilltop Partners LLC 2.56% of their portfolio MISHAWAKA, IN 128,175128.2k $8.6m $8.6m 2.56% Added +2.6k +2,649
59 New York Life Investment Management LLC 0.08% of their portfolio New York, NY 127,840127.8k $8.6m $8.6m 0.08% Added +9.3k +9,268
60 TD PRIVATE CLIENT WEALTH LLC 0.19% of their portfolio NEW YORK, NY 126,322126.3k $8.5m $8.5m 0.19% Reduced -23.7k -23,736
61 North Ridge Wealth Advisors, Inc. 4.82% of their portfolio BEAVERTON, OR 125,980126.0k $8.4m $8.4m 4.82% Added +2.7k +2,660
62 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 124,192124.2k $8.3m $8.3m 0.02% New
63 Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio SEOUL, M5 124,000124.0k $8.3m $8.3m 0.03% Added +15.0k +15,000
64 Mariner, LLC 0.01% of their portfolio Overland Park, KS 123,513123.5k $8.3m $8.3m 0.01% Added +2.0k +2,003
65 BlackRock, Inc. 0.00% of their portfolio New York, NY 108,477108.5k $7.3m $7.3m 0.00% Reduced -13.7k -13,683
66 City State Bank 2.09% of their portfolio NORWALK, IA 107,906107.9k $7.2m $7.2m 2.09% Reduced -193 -193
67 Robinswood Financial LLC 2.30% of their portfolio KIRKLAND, WA 102,895102.9k $6.9m $6.9m 2.30% Added +3.4k +3,425
68 L2 Asset Management, LLC 0.94% of their portfolio Wayland, MA 97,13597.1k $6.5m $6.5m 0.94% Added +20.3k +20,329
69 OneDigital Investment Advisors LLC 0.06% of their portfolio OVERLAND PARK, KS 93,75993.8k $6.3m $6.3m 0.06% Reduced -10.5k -10,457
70 Calamos Advisors LLC 0.03% of their portfolio NAPERVILLE, IL 93,39993.4k $6.2m $6.2m 0.03% Added +50.1k +50,088
71 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 92,13392.1k $6.2m $6.2m 0.01% Reduced -7.3k -7,338
72 Merit Financial Group, LLC 0.06% of their portfolio ALPHARETTA, GA 90,97791.0k $6.1m $6.1m 0.06% Reduced -25 -25
73 BROWN WEALTH MANAGEMENT, LLC 1.66% of their portfolio NAPERVILLE, IL 88,10588.1k $5.9m $5.9m 1.66% Added +3.6k +3,613
74 Beacon Pointe Advisors, LLC 0.05% of their portfolio NEWPORT BEACH, CA 88,01988.0k $5.9m $5.9m 0.05% Added +81.5k +81,476
75 GP Brinson Investments LLC 2.36% of their portfolio Chicago, IL 86,48086.5k $5.8m $5.8m 2.36% Unchanged
76 Ameraudi Asset Management, Inc. 3.41% of their portfolio New York, NY 84,30284.3k $5.6m $5.6m 3.41% Added +7.3k +7,312
77 Onyx Bridge Wealth Group LLC 0.61% of their portfolio TARRYTOWN, NY 83,89583.9k $5.6m $5.6m 0.61% Added +80.1k +80,072
78 Private Advisor Group, LLC 0.03% of their portfolio MORRISTOWN, NJ 83,81183.8k $5.6m $5.6m 0.03% Added +80.2k +80,196
79 SWAN Capital LLC 2.25% of their portfolio PENSACOLA, FL 82,83482.8k $5.5m $5.5m 2.25% Added +31.4k +31,369
80 LFA - Lugano Financial Advisors SA 2.71% of their portfolio LUGANO, V8 77,22077.2k $5.1m $5.1m 2.71% Added +9.2k +9,163
81 Virtus Family Office LLC 4.81% of their portfolio EL PASO, TX 76,81376.8k $5.1m $5.1m 4.81% Added +23.6k +23,634
82 Nilsine Partners, LLC 0.46% of their portfolio GREENWOOD VILLAGE, CO 76,49776.5k $5.1m $5.1m 0.46% Added +7.0k +6,956
83 SageView Advisory Group, LLC 0.17% of their portfolio Newport Beach, CA 74,48174.5k $5.0m $5.0m 0.17% Added +67.6k +67,588
84 CWM, LLC 0.01% of their portfolio OMAHA, NE 70,72770.7k $4.7m $4.7m 0.01% Added +2.1k +2,068
85 AMERICAN FINANCIAL & TAX STRATEGIES INC 2.36% of their portfolio NEW YORK, NY 70,54870.5k $4.7m $4.7m 2.36% Added +262 +262
86 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 70,54870.5k $4.7m $4.7m 0.01% Added +35.5k +35,458
87 KITCHING PARTNERS, LLC 4.35% of their portfolio CONSHOHOCKEN, PA 68,89168.9k $4.6m $4.6m 4.35% Added +934 +934
88 Perigon Wealth Management, LLC 0.09% of their portfolio SAN FRANCISCO, CA 68,71868.7k $4.6m $4.6m 0.09% Added +6.8k +6,783
89 Asset Management One Co., Ltd. 0.01% of their portfolio TOKYO, M0 67,50067.5k $4.5m $4.5m 0.01% New
90 Transamerica Financial Advisors, LLC 0.37% of their portfolio CEDAR RAPIDS, IA 67,43767.4k $4.5m $4.5m 0.37% Added +620 +620
91 DIVERSIFY WEALTH MANAGEMENT, LLC 0.26% of their portfolio SANDY, UT 66,25166.3k $4.5m $4.5m 0.26% Added +5.4k +5,395
92 David Kennon Inc 1.59% of their portfolio SARASOTA, FL 65,89965.9k $4.4m $4.4m 1.59% Reduced -896 -896
93 Modera Wealth Management, LLC 0.05% of their portfolio WESTWOOD, NJ 64,62964.6k $4.3m $4.3m 0.05% Reduced -477 -477
94 Plan Group Financial, LLC 1.16% of their portfolio OKLAHOMA CITY, OK 64,36264.4k $4.3m $4.3m 1.16% Added +25.1k +25,131
95 Cambria Investment Management, L.P. 0.25% of their portfolio Manhattan Beach, CA 62,88262.9k $4.2m $4.2m 0.25% Added +19.1k +19,050
96 Virtue Capital Management, LLC 0.71% of their portfolio BRENTWOOD, TN 62,83062.8k $4.5m $4.5m 0.71% Added +55.8k +55,811
97 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 60,98461.0k $4.1m $4.1m 0.02% Added +1.8k +1,752
98 MMA ASSET MANAGEMENT LLC 1.36% of their portfolio New York, NY 60,69560.7k $4.1m $4.1m 1.36% New
99 Regal Investment Advisors LLC 0.26% of their portfolio KENTWOOD, MI 60,19260.2k $4.0m $4.0m 0.26% Added +3.3k +3,272
100 PLANWISER FINANCIAL, LLC 3.16% of their portfolio COLORADO SPRINGS, CO 58,99759.0k $4.0m $4.0m 3.16% New