Vault-13

VANGUARD MALVERN FDS VTIP

STRM INFPROIDX · ETP · CUSIP 922020805

767 institutional holders -11 vs Q1 2023
147,548,938147.5m shares reported held*
$7.0bnreported value*
36 new 227 added 367 reduced 56 sold out net sold ≈ $254.6m (-5.3m 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 ($16.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $47.37. Options: 5 managers hold calls ($2.4m notional), 2 hold puts ($331.9k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 786Q4 22: 814Q1 23: 778Q2 23: 767767Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022786
Q4 2022814
Q1 2023778
Q2 2023767

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 23Q2 23: 263 bought or addedQ2 23: 423 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022324434
Q1 2023307453
Q2 2023263423

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 0.35Q2 23 calls: $2.4mQ2 23 puts: $331.9kQ2 23P/C 0.14
Numbers
QuarterCallsPutsP/C
Q3 2022$9.7m$2.5m0.26
Q4 2022$6.1m$2.7m0.43
Q1 2023$5.8m$2.0m0.35
Q2 2023$2.4m$331.9k0.14

Biggest buyers

JPMORGAN CHASE & CO Added +3,818,082+3.8m
Pacific Life Fund Advisors LLC New +696,155+696.2k
COURIER CAPITAL LLC New +462,767+462.8k
Focus Partners Advisor Solutions, LLC Added +283,915+283.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +277,489+277.5k
FLOW TRADERS U.S. LLC Added +276,146+276.1k
STIFEL FINANCIAL CORP Added +257,754+257.8k
Morningstar Investment Services LLC Added +239,411+239.4k
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management Added +213,614+213.6k
Valmark Advisers, Inc. Added +195,093+195.1k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -1,230,870-1.2m
Litman Gregory Wealth Management LLC Sold out -975,253-975.3k
Betterment LLC Reduced -928,264-928.3k
AMERIPRISE FINANCIAL INC Reduced -764,316-764.3k
UBS Group AG Reduced -699,505-699.5k
Park Avenue Institutional Advisers LLC Reduced -514,400-514.4k
Long Run Wealth Advisors, LLC Reduced -477,169-477.2k
BlueCrest Capital Management Ltd Sold out -438,794-438.8k
Morningstar Investment Management LLC Reduced -432,883-432.9k
OSAIC HOLDINGS, INC. Reduced -429,743-429.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.6m33.5k shares
CITADEL ADVISORS LLC Reduced $569.0k12.0k shares
SIMPLEX TRADING, LLC Reduced $275.0k5.8k shares
GROUP ONE TRADING LLC Reduced $9.5k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Added $331.9k7.0k 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 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 15,910,28915.9m $754.5m $754.5m 0.07% Added +7.9k +7,949
2 SEI INVESTMENTS CO 0.54% of their portfolio OAKS, PA 6,486,7956.5m $307.6m $307.6m 0.54% Added +1.5k +1,535
3 Betterment LLC 0.93% of their portfolio NEW YORK, NY 6,301,8146.3m $298.8m $298.8m 0.93% Reduced -928.3k -928,264
4 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 5,569,7145.6m $264.1m $264.1m 0.03% Reduced -1.2m -1,230,870
5 Valmark Advisers, Inc. 4.88% of their portfolio AKRON, OH 5,059,0255.1m $239.9m $239.9m 4.88% Added +195.1k +195,093
6 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 4,961,4875.0m $235.3m $235.3m 0.03% Added +3.8m +3,818,082
7 Heritage Wealth Advisors 10.77% of their portfolio RICHMOND, VA 4,292,4944.3m $203.6m $203.6m 10.77% Reduced -47.7k -47,673
8 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 3,501,5793.5m $166.0m $166.0m 0.05% Reduced -188.2k -188,161
9 UBS Group AG 0.07% of their portfolio ZURICH, V8 3,318,5643.3m $157.4m $157.4m 0.07% Reduced -699.5k -699,505
10 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 4.82% of their portfolio Seattle, WA 2,521,5212.5m $119.6m $119.6m 4.82% Added +213.6k +213,614
11 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 2,085,2762.1m $98.9m $98.9m 0.03% Reduced -179.5k -179,537
12 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 2,070,8212.1m $98.2m $98.2m 0.04% Reduced -72.7k -72,688
13 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 2,052,5952.1m $97.3m $97.3m 0.07% Reduced -4.1k -4,089
14 TD AMERITRADE INVESTMENT MANAGEMENT, LLC 0.96% of their portfolio OMAHA, NE 1,895,0811.9m $89.9m $89.9m 0.96% Reduced -133.5k -133,499
15 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.11% of their portfolio MILWAUKEE, WI 1,851,8961.9m $87.8m $87.8m 0.11% Reduced -354.0k -353,964
16 Alesco Advisors, LLC, An ESL Co 2.95% of their portfolio Pittsford, NY 1,732,1871.7m $82.1m $82.1m 2.95% Added +5.4k +5,402
17 BUCKINGHAM STRATEGIC WEALTH, LLC 1.14% of their portfolio CLAYTON, MO 1,681,9171.7m $79.8m $79.8m 1.14% Added +31.4k +31,424
18 Hirtle & Co., LLC 3.31% of their portfolio WEST CONSHOHOCKEN, PA 1,463,7351.5m $69.4m $69.4m 3.31% Added +183.6k +183,634
19 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,364,1101.4m $64.7m $64.7m 0.01% Reduced -17.3k -17,317
20 STIFEL FINANCIAL CORP 0.09% of their portfolio ST. LOUIS, MO 1,319,5701.3m $62.6m $62.6m 0.09% Added +257.8k +257,754
21 OSAIC HOLDINGS, INC. 0.11% of their portfolio SCOTTSDALE, AZ 1,307,4741.3m $62.0m $62.0m 0.11% Reduced -429.7k -429,743
22 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 1,294,0821.3m $61.4m $61.4m 0.03% Reduced -206.0k -206,025
23 HighTower Advisors, LLC 0.12% of their portfolio CHICAGO, IL 1,264,3351.3m $59.9m $59.9m 0.12% Reduced -3.4k -3,432
24 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,259,5531.3m $59.7m $59.7m 0.02% Reduced -128.8k -128,786
25 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,216,0631.2m $57.7m $57.7m 0.02% Reduced -764.3k -764,316
26 Klingman & Associates, LLC 4.65% of their portfolio New York, NY 1,215,1241.2m $57.6m $57.6m 4.65% Added +46.6k +46,618
27 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 4.16% of their portfolio BOSTON, MA 1,175,1081.2m $55.7m $55.7m 4.16% Added +142.0k +142,004
28 Raymond James Financial Services Advisors, Inc. 0.09% of their portfolio ST. PETERSBURG, FL 1,098,2291.1m $52.1m $52.1m 0.09% Reduced -116.8k -116,849
29 Corient Private Wealth LP 0.12% of their portfolio MIAMI, FL 1,052,5431.1m $49.9m $49.9m 0.12% Added +138.6k +138,586
30 Focus Partners Advisor Solutions, LLC 2.70% of their portfolio SAINT LOUIS, MO 1,022,7171.0m $48.5m $48.5m 2.70% Added +283.9k +283,915
31 SATOVSKY ASSET MANAGEMENT LLC 16.07% of their portfolio NEW YORK, NY 1,002,8691.0m $47.6m $47.6m 16.07% Added +27.6k +27,616
32 COMMONWEALTH EQUITY SERVICES, LLC 0.10% of their portfolio WALTHAM, MA 985,555985.6k $46.7m $46.7m 0.10% Added +113.9k +113,855
33 Adventist Health System/ West 8.99% of their portfolio Roseville, CA 966,530966.5k $45.8m $45.8m 8.99% Unchanged
34 GenTrust, LLC 3.11% of their portfolio MIAMI, FL 966,522966.5k $45.8m $45.8m 3.11% Added +79.0k +78,978
35 Alaska Permanent Capital Management, LLC 3.59% of their portfolio ANCHORAGE, AK 899,062899.1k $42.6m $42.6m 3.59% Added +143.2k +143,164
36 CoreCap Advisors, LLC 2.41% of their portfolio SOUTHFIELD, MI 714,787714.8k $33.9m $33.9m 2.41% First filing
37 Efficient Advisors, LLC 2.16% of their portfolio BEAVERTON, OR 697,917697.9k $33.1m $33.1m 2.16% Added +3.2k +3,196
38 Pacific Life Fund Advisors LLC 3.36% of their portfolio NEWPORT BEACH, CA 696,155696.2k $33.0m $33.0m 3.36% New
39 Simplicity Solutions, LLC 0.89% of their portfolio MINNEAPOLIS, MN 686,795686.8k $32.6m $32.6m 0.89% Added +18.6k +18,571
40 Bleakley Financial Group, LLC 1.02% of their portfolio PARSIPPANY, NJ 686,795686.8k $32.6m $32.6m 1.02% Added +27.3k +27,297
41 Beaird Harris Wealth Management, LLC 3.85% of their portfolio DALLAS, TX 677,869677.9k $32.1m $32.1m 3.85% Reduced -279.8k -279,844
42 Morningstar Investment Services LLC 0.40% of their portfolio CHICAGO, IL 661,996662.0k $31.4m $31.4m 0.40% Added +239.4k +239,411
43 STUDIO INVESTMENT MANAGEMENT LLC 8.71% of their portfolio CHICAGO, IL 656,320656.3k $31.1m $31.1m 8.71% Added +26.5k +26,508
44 ASSETMARK, INC 0.11% of their portfolio CONCORD, CA 597,280597.3k $28.3m $28.3m 0.11% Added +18.1k +18,053
45 Marotta Asset Management 6.29% of their portfolio CHARLOTTESVILLE, VA 594,930594.9k $28.2m $28.2m 6.29% First filing
46 True Link Financial Advisors, LLC 3.17% of their portfolio SAN FRANCISCO, CA 552,480552.5k $26.2m $26.2m 3.17% Added +26.5k +26,531
47 FIRST HAWAIIAN BANK 0.85% of their portfolio HONOLULU, HI 550,853550.9k $26.1m $26.1m 0.85% Reduced -7.4k -7,449
48 Avion Wealth 6.65% of their portfolio THE WOODLANDS, TX 534,904534.9k $25.4m $25.4m 6.65% Added +26.6k +26,623
49 AJ WEALTH STRATEGIES, LLC 1.22% of their portfolio NEW YORK, NY 531,106531.1k $25.2m $25.2m 1.22% Added +134.2k +134,155
50 Creative Planning 0.03% of their portfolio OVERLAND PARK, KS 513,085513.1k $24.3m $24.3m 0.03% Reduced -75.4k -75,393
51 MOLLER WEALTH PARTNERS 7.39% of their portfolio NORTHFIELD, IL 510,140510.1k $24.2m $24.2m 7.39% Reduced -3.4k -3,431
52 Cambridge Investment Research Advisors, Inc. 0.11% of their portfolio FAIRFIELD, IA 499,833499.8k $23.7m $23.7m 0.11% Added +9.5k +9,507
53 Vectors Research Management, LLC 6.73% of their portfolio New York, NY 498,925498.9k $23.7m $23.7m 6.73% Reduced -83.0k -82,951
54 Wealthfront Advisers LLC 0.10% of their portfolio Palo Alto, CA 495,567495.6k $23.5m $23.5m 0.10% Added +63.1k +63,113
55 Systematic Alpha Investments, LLC 1.14% of their portfolio PRINCETON, NJ 495,000495.0k $23.5m $23.5m 1.14% Unchanged
56 Compton Financial Group, LLC 8.84% of their portfolio TOWSON, MD 494,281494.3k $23.4m $23.4m 8.84% Added +10.6k +10,558
57 AdvisorNet Financial, Inc 2.00% of their portfolio MINNETONKA, MN 493,255493.3k $23.4m $23.4m 2.00% Added +20.1k +20,081
58 Deane Retirement Strategies, Inc. 12.73% of their portfolio NEW ORLEANS, LA 489,535489.5k $23.2m $23.2m 12.73% Added +1.2k +1,213
59 RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio ST PETERSBURG, FL 478,709478.7k $22.7m $22.7m 0.02% Reduced -138.3k -138,291
60 Column Capital Advisors, LLC 0.36% of their portfolio INDIANAPOLIS, IN 464,934464.9k $2.6m $2.6m 0.36% Reduced -3.0k -3,026
61 COURIER CAPITAL LLC 1.73% of their portfolio BUFFALO, NY 462,767462.8k $21.9m $21.9m 1.73% New
62 Abbrea Capital, LLC 3.24% of their portfolio Greenbrae, CA 444,521444.5k $21.1m $21.1m 3.24% Reduced -80.9k -80,865
63 Rappaport Reiches Capital Management, LLC 8.48% of their portfolio SKOKIE`, IL 428,549428.5k $20.3m $20.3m 8.48% Added +21.5k +21,526
64 Leonard Rickey Investment Advisors P.L.L.C. 7.13% of their portfolio YAKIMA, WA 399,521399.5k $18.9m $18.9m 7.13% Added +13.5k +13,516
65 FLOW TRADERS U.S. LLC 0.82% of their portfolio NEW YORK, NY 398,330398.3k $18.9m $18.9m 0.82% Added +276.1k +276,146
66 MML INVESTORS SERVICES, LLC 0.10% of their portfolio SPRINGFIELD, MA 395,821395.8k $18.8m $18.8m 0.10% Reduced -129.3k -129,338
67 TWIN FOCUS CAPITAL PARTNERS, LLC 3.77% of their portfolio Boston, MA 393,472393.5k $18.7m $18.7m 3.77% Reduced -830 -830
68 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 391,529391.5k $18.6m $18.6m 0.02% Reduced -44.0k -44,034
69 FARMERS & MERCHANTS INVESTMENTS INC 0.69% of their portfolio LINCOLN, NE 386,710386.7k $18.3m $18.3m 0.69% Reduced -4.5k -4,540
70 FINANCIAL CONSULATE, INC 7.68% of their portfolio HUNT VALLEY, MD 381,972382.0k $18.1m $18.1m 7.68% Added +3.9k +3,861
71 ProVise Management Group, LLC 1.64% of their portfolio CLEARWATER, FL 380,430380.4k $18.0m $18.0m 1.64% Added +2.9k +2,903
72 EVOKE WEALTH, LLC 0.61% of their portfolio Los Angeles, CA 372,286372.3k $17.7m $17.7m 0.61% Added +45.6k +45,603
73 Pasadena Private Wealth, LLC 4.96% of their portfolio PASADENA, CA 371,399371.4k $17.6m $17.6m 4.96% Added +65.8k +65,790
74 Graves Light Lenhart Wealth, Inc. 2.32% of their portfolio HARRISONBURG, VA 362,843362.8k $17.2m $17.2m 2.32% Added +7.5k +7,544
75 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio BALA CYNWYD, PA 358,392358.4k $17.0m $17.0m 0.03% Added +277.5k +277,489
76 TRUST CO OF VERMONT 1.11% of their portfolio BRATTLEBORO, VT 357,857357.9k $17.0m $17.0m 1.11% Reduced -28.3k -28,332
77 Brickley Wealth Management 4.28% of their portfolio SAN MATEO, CA 357,290357.3k $16.9m $16.9m 4.28% Added +25 +25
78 Cetera Advisor Networks LLC 0.12% of their portfolio EL SEGUNDO, CA 355,574355.6k $16.9m $16.9m 0.12% Reduced -51.1k -51,058
79 North Star Investment Management Corp. 1.36% of their portfolio CHICAGO, IL 353,957354.0k $16.8m $16.8m 1.36% Reduced -45.3k -45,327
80 One Wealth Map LLC 10.97% of their portfolio LAS VEGAS, NV 349,032349.0k $16.5m $16.5m 10.97% Reduced -63.6k -63,616
81 Focus Financial Network, Inc. 0.91% of their portfolio MINNEAPOLIS, MN 345,908345.9k $16.4m $16.4m 0.91% Added +50.6k +50,616
82 Elwood & Goetz Wealth Advisory Group, LLC 3.69% of their portfolio ATHENS, GA 341,182341.2k $16.2m $16.2m 3.69% Added +7.0k +7,011
83 Virtue Capital Management, LLC 2.73% of their portfolio BRENTWOOD, TN 340,884340.9k $16.0m $16.0m 2.73% Reduced -81.6k -81,620
84 Wealthspire Advisors, LLC 0.26% of their portfolio NEW YORK, NY 334,814334.8k $15.9m $15.9m 0.26% Reduced -6.1k -6,057
85 Cypress Capital, LLC 4.52% of their portfolio FRANKLIN, TN 331,151331.2k $15.7m $15.7m 4.52% Reduced -9.2k -9,188
86 Cerity Partners LLC 0.06% of their portfolio NEW YORK, NY 324,767324.8k $15.4m $15.4m 0.06% Added +13.2k +13,209
87 Atria Wealth Solutions, Inc. 0.21% of their portfolio NEW YORK, NY 323,721323.7k $15.4m $15.4m 0.21% Added +19.8k +19,776
88 VAN STRUM & TOWNE INC. 6.13% of their portfolio SAN FRANCISCO, CA 312,201312.2k $14.8m $14.8m 6.13% Reduced -28.8k -28,750
89 Executive Wealth Management, LLC 1.52% of their portfolio BRIGHTON, MI 310,512310.5k $14.7m $14.7m 1.52% Reduced -12.2k -12,160
90 Baron Financial Group, LLC 9.04% of their portfolio Fair Lawn, NJ 308,863308.9k $14.6m $14.6m 9.04% Reduced -12.1k -12,100
91 Bullseye Investment Management, LLC 10.54% of their portfolio CINCINNATI, OH 306,373306.4k $14.5m $14.5m 10.54% Added +145.5k +145,496
92 Portland Global Advisors LLC 2.35% of their portfolio PORTLAND, ME 302,073302.1k $14.3m $14.3m 2.35% Added +11.5k +11,500
93 Alaska Wealth Advisors, LLC 2.26% of their portfolio ANCHORAGE, AK 302,027302.0k $14.3m $14.3m 2.26% Added +17.6k +17,564
94 CreativeOne Wealth, LLC 0.33% of their portfolio OVERLAND PARK, KS 277,237277.2k $13.2m $13.2m 0.33% Added +113.4k +113,401
95 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 277,118277.1k $13.1m $13.1m 0.02% Reduced -40.6k -40,566
96 FMR LLC 0.00% of their portfolio BOSTON, MA 273,976274.0k $13.0m $13.0m 0.00% Reduced -317.5k -317,490
97 Symmetry Partners, LLC 0.68% of their portfolio GLASTONBURY, CT 270,980271.0k $12.8m $12.8m 0.68% Reduced -15.6k -15,646
98 CHATHAM CAPITAL GROUP, INC. 2.62% of their portfolio SAVANNAH, GA 262,085262.1k $12.4m $12.4m 2.62% Reduced -420 -420
99 Wavelength Capital Management, LLC 13.23% of their portfolio WESTPORT, CT 257,880257.9k $12.2m $12.2m 13.23% Reduced -7.1k -7,120
100 Ethos Financial Group, LLC 4.10% of their portfolio KING OF PRUSSIA, PA 253,862253.9k $12.1m $12.1m 4.10% Unchanged