Vault-13

VANGUARD MALVERN FDS VCRB

CORE BD ETF · ETP · CUSIP 922020748

276 institutional holders +29 vs Q4 2025
69,074,72769.1m shares reported held*
$5.3bnreported value*
43 new 178 added 29 reduced 15 sold out net bought ≈ $1.3bn (+16.3m 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 ($677.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $77.37.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0100200300Q4 23: 6Q1 24: 25Q2 24: 45Q3 24: 57Q4 24: 93Q1 25: 137Q2 25: 170Q3 25: 202Q4 25: 247Q1 26: 276276Q4 23Q2 24Q4 24Q2 25Q4 25Q1 26
Numbers
QuarterHolders
Q4 20236
Q1 202425
Q2 202445
Q3 202457
Q4 202493
Q1 2025137
Q2 2025170
Q3 2025202
Q4 2025247
Q1 2026276

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 24: 41 bought or addedQ2 24: 4 cut or sold outQ3 24: 46 bought or addedQ3 24: 8 cut or sold outQ3 24Q4 24: 66 bought or addedQ4 24: 12 cut or sold outQ1 25: 120 bought or addedQ1 25: 13 cut or sold outQ1 25Q2 25: 133 bought or addedQ2 25: 41 cut or sold outQ3 25: 167 bought or addedQ3 25: 35 cut or sold outQ3 25Q4 25: 179 bought or addedQ4 25: 45 cut or sold outQ1 26: 221 bought or addedQ1 26: 44 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024414
Q3 2024468
Q4 20246612
Q1 202512013
Q2 202513341
Q3 202516735
Q4 202517945
Q1 202622144

Biggest buyers

Bank of New York Mellon Corp Added +3,409,456+3.4m
NEPC LLC New +2,331,700+2.3m
HBK Sorce Advisory LLC Added +1,773,431+1.8m
Heartland Bank & Trust Co New +823,649+823.6k
BOK Financial Private Wealth, Inc. New +610,668+610.7k
New England Capital Financial Advisors LLC Added +526,076+526.1k
EVOLVE PRIVATE WEALTH, LLC New +466,879+466.9k
Advance Capital Management, Inc. Added +432,345+432.3k
SIGNATUREFD, LLC Added +411,422+411.4k
BANK OF AMERICA CORP /DE/ Added +411,031+411.0k

Biggest sellers

SMITHBRIDGE ASSET MANAGEMENT INC/DE Reduced -245,107-245.1k
Orion Porfolio Solutions, LLC Reduced -58,258-58.3k
Ethos Financial Group, LLC Reduced -47,786-47.8k
AXXCESS WEALTH MANAGEMENT, LLC Sold out -35,884-35.9k
Coppell Advisory Solutions LLC Sold out -32,081-32.1k
FLOW TRADERS U.S. LLC Sold out -17,250-17.2k
Corient Private Wealth LP Sold out -15,376-15.4k
Greenwich Wealth Management LLC Reduced -15,187-15.2k
EWA, LLC Reduced -10,969-11.0k
J.W. COLE ADVISORS, INC. Sold out -10,747-10.7k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HBK Sorce Advisory LLC 17.43% of their portfolio ERIE, PA 11,048,18411.0m $854.4m $854.4m 17.43% Added +1.8m +1,773,431
2 SIGNATUREFD, LLC 6.46% of their portfolio ATLANTA, GA 5,446,4615.4m $421.4m $421.4m 6.46% Added +411.4k +411,422
3 Advance Capital Management, Inc. 10.91% of their portfolio SOUTHFIELD, MI 3,721,6953.7m $288.0m $288.0m 10.91% Added +432.3k +432,345
4 Bank of New York Mellon Corp 0.05% of their portfolio NEW YORK, NY 3,446,1193.4m $266.7m $266.7m 0.05% Added +3.4m +3,409,456
5 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,425,5472.4m $187.7m $187.7m 0.01% Added +411.0k +411,031
6 NEPC LLC 3.59% of their portfolio Boston, MA 2,331,7002.3m $180.4m $180.4m 3.59% New
7 Forvis Mazars Wealth Advisors, LLC 3.01% of their portfolio Springfield, MO 2,051,1102.1m $158.7m $158.7m 3.01% Added +337.6k +337,584
8 Martel Wealth Advisors LLC 20.82% of their portfolio VANCOUVER, WA 1,580,7801.6m $122.3m $122.3m 20.82% Added +75.7k +75,672
9 ASSETMARK, INC 0.22% of their portfolio CONCORD, CA 1,384,8761.4m $107.2m $107.2m 0.22% Added +24.3k +24,268
10 Diversified Portfolios, Inc. 7.60% of their portfolio Bloomfield Hills, MI 1,194,6831.2m $92.4m $92.4m 7.60% Added +65.2k +65,205
11 Smith & Howard Wealth Management, LLC 18.22% of their portfolio ATLANTA, GA 1,088,8241.1m $84.3m $84.3m 18.22% Added +70.1k +70,112
12 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,064,0841.1m $82.3m $82.3m 0.02% Added +137.9k +137,912
13 Financial Engines Advisors L.L.C. 0.15% of their portfolio SANTA CLARA, CA 982,681982.7k $76.0m $76.0m 0.15% Added +53.4k +53,389
14 BLB&B Advisors, LLC 3.05% of their portfolio MONTGOMERYVILLE, PA 955,426955.4k $73.9m $73.9m 3.05% Added +82.7k +82,697
15 ALERUS FINANCIAL NA 3.63% of their portfolio GRAND FORKS, ND 948,779948.8k $73.4m $73.4m 3.63% Added +11.8k +11,834
16 Orion Porfolio Solutions, LLC 0.59% of their portfolio OMAHA, NE 891,844891.8k $69.0m $69.0m 0.59% Reduced -58.3k -58,258
17 ORRSTOWN FINANCIAL SERVICES INC 11.45% of their portfolio HARRISBURG, PA 883,723883.7k $68.4m $68.4m 11.45% Added +67.3k +67,261
18 Heartland Bank & Trust Co 14.41% of their portfolio BLOOMINGTON, IL 823,649823.6k $63.7m $63.7m 14.41% New
19 Magnolia Wealth Management, LLC 29.00% of their portfolio DOTHAN, AL 643,201643.2k $49.8m $49.8m 29.00% Added +5.7k +5,719
20 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 628,017628.0k $48.6m $48.6m 0.01% Added +69.0k +69,029
21 BOK Financial Private Wealth, Inc. 2.85% of their portfolio DENVER, CO 610,668610.7k $47.3m $47.3m 2.85% New
22 New England Capital Financial Advisors LLC 12.52% of their portfolio MERIDEN, CT 590,874590.9k $45.7m $45.7m 12.52% Added +526.1k +526,076
23 Tilson Financial Group, Inc. 13.00% of their portfolio NEW PROVIDENCE, NJ 559,754559.8k $43.3m $43.3m 13.00% Added +42.2k +42,190
24 Envestnet Portfolio Solutions, Inc. 0.23% of their portfolio BERWYN, PA 534,429534.4k $41.4m $41.4m 0.23% Added +2.0k +2,005
25 Zhang Financial LLC 1.41% of their portfolio PORTAGE, MI 525,359525.4k $40.7m $40.7m 1.41% Added +286.5k +286,495
26 HUB Investment Partners, LLC 0.97% of their portfolio AUSTIN, TX 513,210513.2k $39.7m $39.7m 0.97% Added +73.1k +73,080
27 Tull Financial Group, Inc. 16.65% of their portfolio CHESAPEAKE, VA 482,044482.0k $37.3m $37.3m 16.65% Added +6.1k +6,140
28 EVOLVE PRIVATE WEALTH, LLC 1.93% of their portfolio LOS ANGELES, CA 466,879466.9k $36.1m $36.1m 1.93% New
29 Essex LLC 6.34% of their portfolio DEER PARK, IL 464,036464.0k $35.9m $35.9m 6.34% Added +40.3k +40,333
30 Mills Wealth Advisors LLC 12.32% of their portfolio SOUTHLAKE, TX 455,705455.7k $35.3m $35.3m 12.32% Added +28.2k +28,198
31 First Citizens Asset Management, Inc. 12.49% of their portfolio RALEIGH, NC 455,264455.3k $35.2m $35.2m 12.49% Added +2.7k +2,704
32 Meeder Advisory Services, Inc. 1.47% of their portfolio DUBLIN, OH 453,083453.1k $35.1m $35.1m 1.47% Added +21.0k +21,012
33 SJS Investment Consulting Inc. 4.13% of their portfolio SYLVANIA, OH 437,209437.2k $33.8m $33.8m 4.13% Added +52.0k +52,033
34 AMI INVESTMENT MANAGEMENT INC 7.39% of their portfolio KENDALLVILLE, IN 424,563424.6k $32.9m $32.9m 7.39% Added +10.4k +10,384
35 Alaethes Wealth, LLC 9.22% of their portfolio GLENBROOK, NV 413,112413.1k $32.0m $32.0m 9.22% Added +6.0k +6,008
36 SACHEM HILL LLC 6.08% of their portfolio DENVER, CO 405,398405.4k $31.4m $31.4m 6.08% Added +18.4k +18,392
37 Verum Partners LLC 5.94% of their portfolio CHARLOTTE, NC 404,177404.2k $31.3m $31.3m 5.94% Added +79.5k +79,521
38 Leonard Rickey Investment Advisors P.L.L.C. 5.10% of their portfolio YAKIMA, WA 380,816380.8k $29.5m $29.5m 5.10% Added +265.2k +265,220
39 SoundView Advisors Inc. 10.48% of their portfolio OLYMPIA, WA 380,462380.5k $29.4m $29.4m 10.48% New
40 Momentous Wealth Management, Inc. 16.81% of their portfolio VANCOUVER, WA 380,075380.1k $29.4m $29.4m 16.81% Added +11.8k +11,821
41 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 377,773377.8k $29.2m $29.2m 0.04% Added +163.4k +163,442
42 Quantum Financial Planning Services, Inc. 10.26% of their portfolio SPOKANE, WA 369,041369.0k $28.6m $28.6m 10.26% Added +9.5k +9,533
43 Investment Planning Advisors, Inc. 7.78% of their portfolio CUMMING, GA 365,078365.1k $28.2m $28.2m 7.78% Added +74.4k +74,413
44 Mariner, LLC 0.03% of their portfolio Overland Park, KS 359,635359.6k $27.8m $27.8m 0.03% Reduced -8 -8
45 NewEdge Wealth, LLC 0.32% of their portfolio STAMFORD, CT 350,850350.9k $27.1m $27.1m 0.32% Added +20.7k +20,654
46 BCR Wealth Strategies, LLC 8.32% of their portfolio VESTAVIA, AL 343,078343.1k $26.5m $26.5m 8.32% Added +38.2k +38,164
47 RESOLUTE CAPITAL, LLC 10.63% of their portfolio GREENVILLE, SC 339,178339.2k $26.2m $26.2m 10.63% Added +3.2k +3,175
48 Cornerstone Wealth Group, LLC 1.67% of their portfolio HUNTERSVILLE, NC 332,723332.7k $25.8m $25.8m 1.67% Added +30.1k +30,146
49 SVB WEALTH LLC 1.65% of their portfolio BOSTON, MA 323,211323.2k $25.0m $25.0m 1.65% Added +47.9k +47,937
50 CGN Advisors LLC 1.96% of their portfolio MANHATTAN, KS 320,687320.7k $24.8m $24.8m 1.96% Added +41.4k +41,412
51 McIlrath & Eck, LLC 1.76% of their portfolio ARLINGTON, WA 307,236307.2k $23.8m $23.8m 1.76% Added +82.9k +82,882
52 Rise Advisors, LLC 8.19% of their portfolio ROCHESTER, NY 301,439301.4k $23.3m $23.3m 8.19% Added +14.6k +14,570
53 Burton Enright Welch 3.08% of their portfolio WALNUT CREEK, CA 292,700292.7k $22.6m $22.6m 3.08% Added +27.9k +27,874
54 Acropolis Investment Management, LLC 0.99% of their portfolio ST. LOUIS, MO 289,865289.9k $22.4m $22.4m 0.99% Added +67.7k +67,699
55 San Luis Wealth Advisors LLC 3.67% of their portfolio SAN LUIS OBISPO, CA 286,690286.7k $22.2m $22.2m 3.67% Added +38.2k +38,243
56 SMITHBRIDGE ASSET MANAGEMENT INC/DE 3.28% of their portfolio Chadds Ford, PA 285,481285.5k $22.1m $22.1m 3.28% Reduced -245.1k -245,107
57 NorthLanding Financial Partners, LLC 17.17% of their portfolio ROCHESTER, NY 275,164275.2k $21.3m $21.3m 17.17% Added +137.7k +137,747
58 Gross & Hartman Investments LLC 10.80% of their portfolio LEOLA, PA 268,309268.3k $20.8m $20.8m 10.80% Added +57.8k +57,824
59 Lansing Street Advisors 5.02% of their portfolio AMBLER, PA 257,291257.3k $19.9m $19.9m 5.02% Added +61.8k +61,803
60 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 253,047253.0k $19.6m $19.6m 0.00% Added +212.3k +212,332
61 Foundations Investment Advisors, LLC 0.24% of their portfolio PHOENIX, AZ 251,328251.3k $19.4m $19.4m 0.24% Added +32.9k +32,866
62 Crusonia Wealth Advisors LLC 3.93% of their portfolio DENVER, CO 246,198246.2k $19.1m $19.1m 3.93% Added +63.7k +63,741
63 D'Orazio & Associates, Inc. 2.45% of their portfolio VIENNA, VA 244,642244.6k $18.9m $18.9m 2.45% Added +38.7k +38,743
64 SCOTIA CAPITAL INC. 0.08% of their portfolio TORONTO, A6 240,096240.1k $18.6m $18.6m 0.08% Added +2.3k +2,279
65 Blume Capital Management, Inc. 3.05% of their portfolio BERKELEY, CA 231,850231.8k $17.9m $17.9m 3.05% Added +200.2k +200,210
66 KEELER & NADLER FINANCIAL PLANNING & WEALTH MANAGEMENT 5.88% of their portfolio Dublin, OH 224,174224.2k $17.3m $17.3m 5.88% Added +9.1k +9,074
67 Conservest Capital Advisors, Inc. 1.47% of their portfolio WYNNEWOOD, PA 209,080209.1k $16.2m $16.2m 1.47% Added +121.8k +121,835
68 Safe Harbor Family Capital, LLC 11.85% of their portfolio CHAPEL HILL, NC 195,826195.8k $15.2m $15.2m 11.85% Added +34.1k +34,133
69 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 191,741191.7k $14.8m $14.8m 0.02% Added +6.7k +6,716
70 Wolff Financial Management LLC 3.25% of their portfolio KALAMAZOO, MI 189,887189.9k $14.7m $14.7m 3.25% Added +16.2k +16,222
71 Compton Wealth Advisory Group, LLC 3.24% of their portfolio VIRGINIA BEACH, VA 188,341188.3k $14.5m $14.5m 3.24% Added +10.1k +10,100
72 Central Pacific Bank - Trust Division 1.85% of their portfolio HONOLULU, HI 187,617187.6k $14.5m $14.5m 1.85% New
73 ShankerValleau Wealth Advisors, Inc. 3.97% of their portfolio SKOKIE, IL 182,035182.0k $14.1m $14.1m 3.97% Added +2.6k +2,566
74 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 178,863178.9k $13.8m $13.8m 0.02% New
75 Addison Advisors LLC 3.02% of their portfolio MIDDLEBURY, VT 176,465176.5k $13.7m $13.7m 3.02% Added +10.6k +10,573
76 Chicago Partners Investment Group LLC 0.30% of their portfolio CHICAGO, IL 174,038174.0k $13.5m $13.5m 0.30% Added +29.6k +29,646
77 Olde Wealth Management, LLC 4.23% of their portfolio SAMMAMISH, WA 172,746172.7k $13.4m $13.4m 4.23% Added +1.3k +1,292
78 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 169,173169.2k $13.1m $13.1m 0.00% Added +93.7k +93,736
79 CFO4Life Group, LLC 1.96% of their portfolio COPPELL, TX 165,869165.9k $12.8m $12.8m 1.96% Added +2.6k +2,557
80 Private Advisor Group, LLC 0.06% of their portfolio MORRISTOWN, NJ 164,695164.7k $12.7m $12.7m 0.06% Added +21.1k +21,131
81 INVENIO WEALTH PARTNERS LLC 5.03% of their portfolio CORAL GABLES, FL 163,644163.6k $12.7m $12.7m 5.03% Added +2.2k +2,239
82 Boston Standard Wealth Management, LLC 1.89% of their portfolio WINCHESTER, MA 149,695149.7k $11.5m $11.5m 1.89% New
83 AJ Advisors, LLC 4.10% of their portfolio NASHVILLE, TN 142,747142.7k $11.0m $11.0m 4.10% Added +4.3k +4,297
84 Barry Investment Advisors, LLC 2.40% of their portfolio NEW BEDFORD, MA 140,730140.7k $10.9m $10.9m 2.40% Added +19.3k +19,299
85 TFO Wealth Partners, LLC 1.48% of their portfolio MAUMEE, OH 140,480140.5k $10.9m $10.9m 1.48% Added +88.5k +88,519
86 PRINCIPAL SECURITIES, INC. 0.15% of their portfolio DES MOINES, IA 134,993135.0k $10.4m $10.4m 0.15% Added +3.6k +3,563
87 NewEdge Advisors, LLC 0.04% of their portfolio NEW ORLEANS, LA 133,244133.2k $10.3m $10.3m 0.04% Added +11.0k +11,033
88 Madrid Wealth Management, LLC 7.74% of their portfolio ALBUQUERQUE, NM 132,551132.6k $10.3m $10.3m 7.74% Added +12.7k +12,656
89 Strategic Family Wealth Counselors, L.L.C. 2.59% of their portfolio FAIRFIELD, NJ 127,505127.5k $9.9m $9.9m 2.59% Added +18.9k +18,895
90 Kaizen Financial Strategies 4.17% of their portfolio CAMPBELL, CA 127,046127.0k $9.9m $9.9m 4.17% Reduced -2.1k -2,071
91 Gutierrez Wealth Advisory, LLC 6.00% of their portfolio LITTLE ROCK, AR 124,728124.7k $9.7m $9.7m 6.00% Added +3.0k +2,970
92 CreativeOne Wealth, LLC 0.22% of their portfolio OVERLAND PARK, KS 121,754121.8k $9.4m $9.4m 0.22% Added +22.9k +22,916
93 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 120,763120.8k $9.3m $9.3m 0.01% Added +5.5k +5,500
94 UP STRATEGIC WEALTH INVESTMENT ADVISORS LLC 5.85% of their portfolio PITTSBURGH, PA 120,396120.4k $9.3m $9.3m 5.85% Added +29.3k +29,276
95 GEN Financial Management, INC. 5.20% of their portfolio PLYMOUTH, MN 108,509108.5k $8.4m $8.4m 5.20% Added +5.9k +5,868
96 MISSION WEALTH MANAGEMENT, LP 0.17% of their portfolio Santa Barbara, CA 104,373104.4k $8.1m $8.1m 0.17% Added +23.3k +23,276
97 Tandem Investment Partners LLC 6.83% of their portfolio Bordentown, NJ 104,073104.1k $8.1m $8.1m 6.83% Added +9.2k +9,241
98 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 102,705102.7k $7.9m $7.9m 0.01% Added +9.7k +9,651
99 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 102,277102.3k $7.9m $7.9m 0.02% Added +24.0k +23,986
100 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 98,34998.3k $7.6m $7.6m 0.02% Added +5.0k +5,034