Vault-13

VANGUARD MALVERN FDS VTIP

STRM INFPROIDX · ETP · CUSIP 922020805

778 institutional holders -36 vs Q4 2022
151,525,979151.5m shares reported held*
$7.3bnreported value*
66 new 241 added 360 reduced 93 sold out net sold ≈ $1.2bn (-24.7m 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 ($19.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $48.09. Options: 6 managers hold calls ($5.8m notional), 4 hold puts ($2.0m).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 786Q4 22: 814Q1 23: 778778Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022786
Q4 2022814
Q1 2023778

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q4 22: 324 bought or addedQ4 22: 434 cut or sold outQ4 22Q1 23: 307 bought or addedQ1 23: 453 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022324434
Q1 2023307453

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ3 22 calls: $9.7mQ3 22 puts: $2.5mQ3 22P/C 0.26Q4 22 calls: $6.1mQ4 22 puts: $2.7mQ4 22P/C 0.43Q1 23 calls: $5.8mQ1 23 puts: $2.0mQ1 23P/C 0.35
Numbers
QuarterCallsPutsP/C
Q3 2022$9.7m$2.5m0.26
Q4 2022$6.1m$2.7m0.43
Q1 2023$5.8m$2.0m0.35

Biggest buyers

Hirtle & Co., LLC Added +1,077,727+1.1m
Litman Gregory Wealth Management LLC New +975,253+975.3k
Efficient Advisors, LLC New +694,721+694.7k
Simplicity Solutions, LLC Added +592,519+592.5k
BlueCrest Capital Management Ltd New +438,794+438.8k
One Wealth Map LLC New +412,648+412.6k
RETIREMENT CAPITAL STRATEGIES New +404,120+404.1k
STUDIO INVESTMENT MANAGEMENT LLC Added +364,109+364.1k
Alaska Permanent Capital Management, LLC Added +309,865+309.9k
Pasadena Private Wealth, LLC Added +298,936+298.9k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -9,557,685-9.6m
FMR LLC Reduced -3,239,011-3.2m
JANE STREET GROUP, LLC Reduced -1,871,810-1.9m
BANK OF AMERICA CORP /DE/ Reduced -1,198,269-1.2m
WELLS FARGO & COMPANY/MN Reduced -1,081,612-1.1m
Betterment LLC Reduced -1,008,955-1.0m
Campbell Wealth Management Reduced -1,006,047-1.0m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -628,173-628.2k
Park Avenue Institutional Advisers LLC Reduced -620,000-620.0k
LPL Financial LLC Reduced -563,366-563.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.9m82.2k shares
CITADEL ADVISORS LLC Reduced $1.3m28.2k shares
SIMPLEX TRADING, LLC Reduced $444.0k9.3k shares
GROUP ONE TRADING LLC Unchanged $52.6k1.1k shares
Belvedere Trading LLC New $38.3k800 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

Belvedere Trading LLC Reduced $1.5m30.5k shares
CITADEL ADVISORS LLC Reduced $301.3k6.3k shares
SIMPLEX TRADING, LLC New $272.0k5.7k 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, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.08% of their portfolio NEW YORK, NY 15,902,34015.9m $760.4m $760.4m 0.08% Reduced -435.5k -435,491
2 Betterment LLC 1.12% of their portfolio NEW YORK, NY 7,230,0787.2m $345.7m $345.7m 1.12% Reduced -1.0m -1,008,955
3 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 6,800,5846.8m $325.2m $325.2m 0.04% Reduced -1.2m -1,198,269
4 SEI INVESTMENTS CO 0.58% of their portfolio OAKS, PA 6,485,2606.5m $310.1m $310.1m 0.58% Added +260.9k +260,851
5 Valmark Advisers, Inc. 5.01% of their portfolio AKRON, OH 4,863,9324.9m $232.6m $232.6m 5.01% Added +145.6k +145,634
6 Heritage Wealth Advisors 11.56% of their portfolio RICHMOND, VA 4,340,1674.3m $207.5m $207.5m 11.56% Added +51.1k +51,148
7 UBS Group AG 0.09% of their portfolio ZURICH, V8 4,018,0694.0m $192.1m $192.1m 0.09% Reduced -536.6k -536,557
8 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 3,689,7403.7m $176.4m $176.4m 0.05% Reduced -1.1m -1,081,612
9 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 4.79% of their portfolio Seattle, WA 2,307,9072.3m $110.4m $110.4m 4.79% Added +3.0k +3,035
10 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 2,264,8132.3m $108.3m $108.3m 0.03% Reduced -9.6m -9,557,685
11 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.15% of their portfolio MILWAUKEE, WI 2,205,8602.2m $105.5m $105.5m 0.15% Reduced -628.2k -628,173
12 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 2,143,5092.1m $102.5m $102.5m 0.05% Added +91.2k +91,157
13 LPL Financial LLC 0.08% of their portfolio FORT MILL, SC 2,056,6842.1m $98.4m $98.4m 0.08% Reduced -563.4k -563,366
14 TD AMERITRADE INVESTMENT MANAGEMENT, LLC 1.00% of their portfolio OMAHA, NE 2,028,5802.0m $97.0m $97.0m 1.00% Reduced -139.7k -139,739
15 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,980,3792.0m $94.7m $94.7m 0.03% Reduced -195.0k -195,003
16 OSAIC HOLDINGS, INC. 0.16% of their portfolio SCOTTSDALE, AZ 1,737,2171.7m $83.1m $83.1m 0.16% Reduced -3.1k -3,091
17 Alesco Advisors, LLC, An ESL Co 3.04% of their portfolio Pittsford, NY 1,726,7851.7m $82.6m $82.6m 3.04% Added +14.1k +14,104
18 BUCKINGHAM STRATEGIC WEALTH, LLC 1.40% of their portfolio CLAYTON, MO 1,650,4931.7m $77.1m $77.1m 1.40% Unchanged
19 FRANKLIN RESOURCES INC 0.04% of their portfolio San Mateo, CA 1,500,1071.5m $71.7m $71.7m 0.04% Added +13.9k +13,924
20 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,388,3391.4m $66.4m $66.4m 0.02% Reduced -314.6k -314,617
21 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,381,4271.4m $66.1m $66.1m 0.01% Reduced -94.5k -94,454
22 Hirtle & Co., LLC 3.05% of their portfolio WEST CONSHOHOCKEN, PA 1,280,1011.3m $61.2m $61.2m 3.05% Added +1.1m +1,077,727
23 HighTower Advisors, LLC 0.13% of their portfolio CHICAGO, IL 1,267,7671.3m $60.6m $60.6m 0.13% Reduced -81.3k -81,265
24 Raymond James Financial Services Advisors, Inc. 0.11% of their portfolio ST. PETERSBURG, FL 1,215,0781.2m $58.1m $58.1m 0.11% Reduced -2.8k -2,776
25 Klingman & Associates, LLC 4.81% of their portfolio New York, NY 1,168,5061.2m $55.9m $55.9m 4.81% Added +45.3k +45,252
26 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,143,4051.1m $54.7m $54.7m 0.01% Reduced -345.8k -345,808
27 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 1,061,8161.1m $50.8m $50.8m 0.07% Reduced -71.5k -71,499
28 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 3.82% of their portfolio BOSTON, MA 1,033,1041.0m $49.4m $49.4m 3.82% Reduced -65.9k -65,870
29 Litman Gregory Wealth Management LLC 17.49% of their portfolio LARKSPUR, CA 975,253975.3k $47.0m $47.0m 17.49% New
30 SATOVSKY ASSET MANAGEMENT LLC 17.49% of their portfolio NEW YORK, NY 975,253975.3k $47.0m $47.0m 17.49% Added +58.9k +58,940
31 Adventist Health System/ West 9.56% of their portfolio Roseville, CA 966,530966.5k $46.2m $46.2m 9.56% Unchanged
32 Beaird Harris Wealth Management, LLC 8.22% of their portfolio DALLAS, TX 957,713957.7k $45.8m $45.8m 8.22% Added +28.0k +28,009
33 Corient Private Wealth LP 0.12% of their portfolio MIAMI, FL 913,957914.0k $43.7m $43.7m 0.12% Added +201.9k +201,885
34 GenTrust, LLC 3.06% of their portfolio MIAMI, FL 887,544887.5k $42.4m $42.4m 3.06% Added +41.9k +41,862
35 COMMONWEALTH EQUITY SERVICES, LLC 0.09% of their portfolio WALTHAM, MA 871,700871.7k $41.7m $41.7m 0.09% Reduced -107.0k -107,046
36 Alaska Permanent Capital Management, LLC 3.32% of their portfolio ANCHORAGE, AK 755,898755.9k $36.1m $36.1m 3.32% Added +309.9k +309,865
37 Focus Partners Advisor Solutions, LLC 2.28% of their portfolio SAINT LOUIS, MO 738,802738.8k $35.3m $35.3m 2.28% Added +129.3k +129,330
38 Park Avenue Institutional Advisers LLC 45.28% of their portfolio New York, NY 700,700700.7k $33.5m $33.5m 45.28% Reduced -620.0k -620,000
39 Efficient Advisors, LLC 2.32% of their portfolio BEAVERTON, OR 694,721694.7k $33.2m $33.2m 2.32% New
40 Simplicity Solutions, LLC 0.84% of their portfolio MINNEAPOLIS, MN 668,224668.2k $32.0m $32.0m 0.84% Added +592.5k +592,519
41 Bleakley Financial Group, LLC 1.05% of their portfolio PARSIPPANY, NJ 659,498659.5k $31.5m $31.5m 1.05% Reduced -13.2k -13,152
42 STUDIO INVESTMENT MANAGEMENT LLC 9.09% of their portfolio CHICAGO, IL 629,812629.8k $30.1m $30.1m 9.09% Added +364.1k +364,109
43 RAYMOND JAMES & ASSOCIATES 0.03% of their portfolio ST PETERSBURG, FL 617,000617.0k $29.5m $29.5m 0.03% Reduced -38.9k -38,882
44 FMR LLC 0.00% of their portfolio BOSTON, MA 591,466591.5k $28.3m $28.3m 0.00% Reduced -3.2m -3,239,011
45 Creative Planning 0.04% of their portfolio OVERLAND PARK, KS 588,478588.5k $28.1m $28.1m 0.04% Reduced -47.3k -47,253
46 Vectors Research Management, LLC 7.17% of their portfolio New York, NY 581,876581.9k $27.8m $27.8m 7.17% Added +9.0k +8,964
47 ASSETMARK, INC 0.11% of their portfolio CONCORD, CA 579,227579.2k $27.7m $27.7m 0.11% Reduced -12.4k -12,362
48 FIRST HAWAIIAN BANK 0.90% of their portfolio HONOLULU, HI 558,302558.3k $26.7m $26.7m 0.90% Reduced -14.6k -14,565
49 HNP Capital LLC 7.28% of their portfolio ROCHESTER, NY 546,875546.9k $26.2m $26.2m 7.28% Added +3.8k +3,755
50 Morningstar Investment Management LLC 3.75% of their portfolio CHICAGO, IL 533,630533.6k $25.5m $25.5m 3.75% Unchanged
51 Long Run Wealth Advisors, LLC 8.59% of their portfolio Lake Placid, NY 527,881527.9k $25.2m $25.2m 8.59% Added +15.4k +15,440
52 True Link Financial Advisors, LLC 3.15% of their portfolio SAN FRANCISCO, CA 525,949525.9k $25.2m $25.2m 3.15% Reduced -185.1k -185,055
53 Abbrea Capital, LLC 4.27% of their portfolio Greenbrae, CA 525,386525.4k $25.1m $25.1m 4.27% Reduced -66.1k -66,070
54 MML INVESTORS SERVICES, LLC 0.18% of their portfolio SPRINGFIELD, MA 525,159525.2k $25.1m $25.1m 0.18% Reduced -201.0k -201,022
55 MOLLER WEALTH PARTNERS 7.57% of their portfolio NORTHFIELD, IL 513,571513.6k $24.6m $24.6m 7.57% Added +9.1k +9,120
56 Avion Wealth 6.48% of their portfolio THE WOODLANDS, TX 508,281508.3k $23.7m $23.7m 6.48% Reduced -35.8k -35,786
57 Systematic Alpha Investments, LLC 1.24% of their portfolio PRINCETON, NJ 495,000495.0k $23.7m $23.7m 1.24% Unchanged
58 Cambridge Investment Research Advisors, Inc. 0.11% of their portfolio FAIRFIELD, IA 490,326490.3k $23.4m $23.4m 0.11% Reduced -126.1k -126,106
59 Deane Retirement Strategies, Inc. 12.87% of their portfolio NEW ORLEANS, LA 488,322488.3k $23.3m $23.3m 12.87% Added +7.3k +7,262
60 Compton Financial Group, LLC 9.14% of their portfolio TOWSON, MD 483,723483.7k $23.1m $23.1m 9.14% Added +6.8k +6,832
61 AdvisorNet Financial, Inc 2.07% of their portfolio MINNETONKA, MN 473,174473.2k $22.6m $22.6m 2.07% Added +56.8k +56,795
62 Column Capital Advisors, LLC 0.38% of their portfolio INDIANAPOLIS, IN 467,960468.0k $2.6m $2.6m 0.38% Reduced -261.5k -261,502
63 BlueCrest Capital Management Ltd 2.25% of their portfolio ST HELIER, Y9 438,794438.8k $21.0m $21.0m 2.25% New
64 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 435,563435.6k $20.8m $20.8m 0.03% Added +123.7k +123,669
65 Wealthfront Advisers LLC 0.09% of their portfolio Palo Alto, CA 432,454432.5k $20.7m $20.7m 0.09% Reduced -357.6k -357,635
66 Morningstar Investment Services LLC 0.27% of their portfolio CHICAGO, IL 422,585422.6k $20.1m $20.1m 0.27% Added +11.2k +11,198
67 Virtue Capital Management, LLC 3.31% of their portfolio BRENTWOOD, TN 422,504422.5k $20.2m $20.2m 3.31% Reduced -110.8k -110,785
68 One Wealth Map LLC 12.54% of their portfolio LAS VEGAS, NV 412,648412.6k $19.7m $19.7m 12.54% New
69 Rappaport Reiches Capital Management, LLC 8.63% of their portfolio SKOKIE`, IL 407,023407.0k $19.5m $19.5m 8.63% Added +55.0k +54,970
70 Cetera Advisor Networks LLC 0.14% of their portfolio EL SEGUNDO, CA 406,632406.6k $19.4m $19.4m 0.14% Added +25.7k +25,652
71 RETIREMENT CAPITAL STRATEGIES 9.39% of their portfolio SAN JOSE, CA 404,120404.1k $19.3m $19.3m 9.39% New
72 North Star Investment Management Corp. 1.58% of their portfolio CHICAGO, IL 399,284399.3k $19.1m $19.1m 1.58% Reduced -99.4k -99,413
73 AJ WEALTH STRATEGIES, LLC 0.99% of their portfolio NEW YORK, NY 396,951397.0k $19.0m $19.0m 0.99% Added +34.3k +34,284
74 TWIN FOCUS CAPITAL PARTNERS, LLC 3.74% of their portfolio Boston, MA 394,302394.3k $18.9m $18.9m 3.74% Added +14.1k +14,116
75 FARMERS & MERCHANTS INVESTMENTS INC 0.74% of their portfolio LINCOLN, NE 391,250391.2k $18.7m $18.7m 0.74% Added +17.8k +17,838
76 TRUST CO OF VERMONT 1.29% of their portfolio BRATTLEBORO, VT 386,189386.2k $18.5m $18.5m 1.29% Reduced -143.1k -143,050
77 Leonard Rickey Investment Advisors P.L.L.C. 7.20% of their portfolio YAKIMA, WA 386,005386.0k $18.5m $18.5m 7.20% Added +106.9k +106,897
78 FINANCIAL CONSULATE, INC 6.31% of their portfolio HUNT VALLEY, MD 378,111378.1k $18.1m $18.1m 6.31% Added +12.2k +12,236
79 ProVise Management Group, LLC 1.73% of their portfolio CLEARWATER, FL 377,527377.5k $18.1m $18.1m 1.73% Reduced -1.0k -1,017
80 Brickley Wealth Management 4.68% of their portfolio SAN MATEO, CA 357,265357.3k $17.1m $17.1m 4.68% Added +42.4k +42,431
81 Graves Light Lenhart Wealth, Inc. 2.63% of their portfolio HARRISONBURG, VA 355,299355.3k $17.0m $17.0m 2.63% Added +18.3k +18,282
82 VAN STRUM & TOWNE INC. 6.97% of their portfolio SAN FRANCISCO, CA 340,951341.0k $16.3m $16.3m 6.97% Reduced -22.2k -22,159
83 Wealthspire Advisors, LLC 0.28% of their portfolio NEW YORK, NY 340,871340.9k $16.3m $16.3m 0.28% Reduced -4.8k -4,791
84 Cypress Capital, LLC 5.09% of their portfolio FRANKLIN, TN 340,339340.3k $16.3m $16.3m 5.09% Added +15.0k +15,000
85 Elwood & Goetz Wealth Advisory Group, LLC 3.81% of their portfolio ATHENS, GA 334,171334.2k $16.0m $16.0m 3.81% Reduced -315.8k -315,804
86 EVOKE WEALTH, LLC 0.57% of their portfolio Los Angeles, CA 326,683326.7k $15.6m $15.6m 0.57% Added +123.8k +123,800
87 Executive Wealth Management, LLC 1.71% of their portfolio BRIGHTON, MI 322,672322.7k $15.4m $15.4m 1.71% Reduced -65.2k -65,191
88 Baron Financial Group, LLC 9.72% of their portfolio Fair Lawn, NJ 320,963321.0k $15.3m $15.3m 9.72% Reduced -12.0k -11,960
89 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 317,684317.7k $15.2m $15.2m 0.03% Reduced -10.8k -10,838
90 Cerity Partners LLC 0.04% of their portfolio NEW YORK, NY 311,558311.6k $14.9m $14.9m 0.04% Added +265.2k +265,196
91 Pasadena Private Wealth, LLC 4.23% of their portfolio PASADENA, CA 305,609305.6k $14.6m $14.6m 4.23% Added +298.9k +298,936
92 Atria Wealth Solutions, Inc. 0.22% of their portfolio NEW YORK, NY 303,945303.9k $14.5m $14.5m 0.22% Reduced -95.4k -95,408
93 Full Sail Capital, LLC 1.29% of their portfolio OKLAHOMA CITY, OK 298,825298.8k $14.3m $14.3m 1.29% Added +9.5k +9,461
94 Focus Financial Network, Inc. 0.88% of their portfolio MINNEAPOLIS, MN 295,292295.3k $14.1m $14.1m 0.88% New
95 Portland Global Advisors LLC 2.38% of their portfolio PORTLAND, ME 290,573290.6k $13.9m $13.9m 2.38% Added +14.2k +14,190
96 Symmetry Partners, LLC 0.76% of their portfolio GLASTONBURY, CT 286,626286.6k $13.7m $13.7m 0.76% New
97 Alaska Wealth Advisors, LLC 2.28% of their portfolio ANCHORAGE, AK 284,463284.5k $13.6m $13.6m 2.28% Added +101.4k +101,421
98 Cetera Investment Advisers 0.12% of their portfolio SCHAUMBURG, IL 275,187275.2k $13.2m $13.2m 0.12% Added +33.0k +33,001
99 Wavelength Capital Management, LLC 14.11% of their portfolio WESTPORT, CT 265,000265.0k $12.7m $12.7m 14.11% Reduced -300 -300
100 CHATHAM CAPITAL GROUP, INC. 2.81% of their portfolio SAVANNAH, GA 262,505262.5k $12.6m $12.6m 2.81% Reduced -10 -10