Vault-13

VANGUARD MALVERN FDS VTIP

STRM INFPROIDX · ETP · CUSIP 922020805

766 institutional holders +32 vs Q3 2023
142,119,562142.1m shares reported held*
$6.8bnreported value*
64 new 237 added 338 reduced 84 sold out net sold ≈ $596.6m (-12.8m 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 ($7.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $47.51. Options: 6 managers hold calls ($2.4m notional), 2 hold puts ($1.3m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 786Q4 22: 814Q1 23: 778Q2 23: 767Q3 23: 734Q4 23: 766766Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022786
Q4 2022814
Q1 2023778
Q2 2023767
Q3 2023734
Q4 2023766

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 23Q3 23: 315 bought or addedQ3 23: 397 cut or sold outQ3 23Q4 23: 301 bought or addedQ4 23: 422 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022324434
Q1 2023307453
Q2 2023263423
Q3 2023315397
Q4 2023301422

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ1 23 calls: $5.8mQ1 23 puts: $2.0mQ1 23P/C 0.35Q2 23 calls: $2.4mQ2 23 puts: $331.9kQ2 23P/C 0.14Q3 23 calls: $2.0mQ3 23 puts: $66.0kQ3 23P/C 0.03Q4 23 calls: $2.4mQ4 23 puts: $1.3mQ4 23P/C 0.55
Numbers
QuarterCallsPutsP/C
Q1 2023$5.8m$2.0m0.35
Q2 2023$2.4m$331.9k0.14
Q3 2023$2.0m$66.0k0.03
Q4 2023$2.4m$1.3m0.55

Biggest buyers

MORGAN STANLEY Added +6,162,560+6.2m
Beacon Capital Management, Inc. New +1,413,005+1.4m
Wealthspire Advisors, LLC Added +926,461+926.5k
1832 Asset Management L.P. New +920,964+921.0k
Morningstar Investment Services LLC Added +639,201+639.2k
ENVESTNET ASSET MANAGEMENT INC Added +558,514+558.5k
Schorn Wealth LLC New +473,670+473.7k
RENAISSANCE TECHNOLOGIES LLC Added +306,600+306.6k
HighTower Advisors, LLC Added +240,207+240.2k
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management Added +228,055+228.1k

Biggest sellers

JPMORGAN CHASE & CO Reduced -5,108,751-5.1m
FMR LLC Reduced -4,746,465-4.7m
UBS Group AG Reduced -1,329,709-1.3m
GenTrust, LLC Reduced -1,325,152-1.3m
Wealthfront Advisers LLC Reduced -986,459-986.5k
SMI Advisory Services, LLC Reduced -657,439-657.4k
Betterment LLC Reduced -648,379-648.4k
Pacific Life Fund Advisors LLC Sold out -614,499-614.5k
WELLS FARGO & COMPANY/MN Reduced -559,380-559.4k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -513,513-513.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.0m41.7k shares
CITADEL ADVISORS LLC Reduced $289.7k6.1k shares
SIMPLEX TRADING, LLC Added $85.0k1.8k shares
Belvedere Trading LLC New $9.5k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
Cutler Group LLC / CA New $01.7k shares

Biggest puts

Belvedere Trading LLC New $1.3m26.6k shares
CITADEL ADVISORS LLC Reduced $33.2k700 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, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 13,341,13413.3m $633.6m $633.6m 0.03% Added +6.2m +6,162,560
2 FMR LLC 0.04% of their portfolio BOSTON, MA 11,262,93911.3m $534.9m $534.9m 0.04% Reduced -4.7m -4,746,465
3 SEI INVESTMENTS CO 0.50% of their portfolio OAKS, PA 6,598,7696.6m $313.4m $313.4m 0.50% Reduced -104.4k -104,439
4 Valmark Advisers, Inc. 4.65% of their portfolio AKRON, OH 5,232,0825.2m $248.5m $248.5m 4.65% Added +114.3k +114,300
5 Betterment LLC 0.65% of their portfolio NEW YORK, NY 4,724,3074.7m $224.4m $224.4m 0.65% Reduced -648.4k -648,379
6 Heritage Wealth Advisors 10.63% of their portfolio RICHMOND, VA 4,500,4714.5m $213.7m $213.7m 10.63% Added +160.0k +160,020
7 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 4,373,3284.4m $207.7m $207.7m 0.02% Reduced -291.0k -291,008
8 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 4.97% of their portfolio Seattle, WA 3,079,1633.1m $146.2m $146.2m 4.97% Added +228.1k +228,055
9 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 2,483,3932.5m $117.9m $117.9m 0.05% Added +558.5k +558,514
10 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 2,458,2402.5m $116.7m $116.7m 0.03% Reduced -559.4k -559,380
11 BUCKINGHAM STRATEGIC WEALTH, LLC 1.10% of their portfolio CLAYTON, MO 1,941,5681.9m $92.2m $92.2m 1.10% Added +108.5k +108,507
12 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,938,6311.9m $92.1m $92.1m 0.02% Reduced -8.8k -8,826
13 LPL Financial LLC 0.05% of their portfolio FORT MILL, SC 1,845,1001.8m $87.6m $87.6m 0.05% Reduced -98.2k -98,200
14 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,829,9071.8m $86.9m $86.9m 0.03% Reduced -1.3m -1,329,709
15 Alesco Advisors, LLC, An ESL Co 2.90% of their portfolio Pittsford, NY 1,741,0681.7m $82.7m $82.7m 2.90% Added +37.3k +37,283
16 HighTower Advisors, LLC 0.13% of their portfolio CHICAGO, IL 1,661,1501.7m $78.9m $78.9m 0.13% Added +240.2k +240,207
17 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,656,4361.7m $78.7m $78.7m 0.00% Reduced -5.1m -5,108,751
18 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 1,575,7181.6m $74.8m $74.8m 0.02% Reduced -158.7k -158,736
19 Wealthspire Advisors, LLC 1.05% of their portfolio NEW YORK, NY 1,555,5101.6m $73.9m $73.9m 1.05% Added +926.5k +926,461
20 Klingman & Associates, LLC 5.08% of their portfolio New York, NY 1,457,3261.5m $69.2m $69.2m 5.08% Added +137.2k +137,239
21 Beacon Capital Management, Inc. 2.71% of their portfolio DAYTON, OH 1,413,0051.4m $67.1m $67.1m 2.71% New
22 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,348,4401.3m $64.0m $64.0m 0.01% Reduced -10.6k -10,616
23 Morningstar Investment Services LLC 0.35% of their portfolio CHICAGO, IL 1,297,1311.3m $61.6m $61.6m 0.35% Added +639.2k +639,201
24 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 3.50% of their portfolio BOSTON, MA 1,242,2591.2m $59.0m $59.0m 3.50% Reduced -118.4k -118,383
25 Focus Partners Advisor Solutions, LLC 2.78% of their portfolio SAINT LOUIS, MO 1,220,7551.2m $58.0m $58.0m 2.78% Added +68.8k +68,768
26 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 1,210,1821.2m $57.5m $57.5m 0.03% Reduced -100.2k -100,200
27 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 1,201,8721.2m $57.1m $57.1m 0.06% Reduced -513.5k -513,513
28 OSAIC HOLDINGS, INC. 0.10% of their portfolio SCOTTSDALE, AZ 1,160,8331.2m $55.1m $55.1m 0.10% Reduced -400.2k -400,164
29 Corient Private Wealth LP 0.10% of their portfolio MIAMI, FL 1,136,5821.1m $54.0m $54.0m 0.10% Added +25.3k +25,328
30 SATOVSKY ASSET MANAGEMENT LLC 15.58% of their portfolio NEW YORK, NY 1,053,9691.1m $50.1m $50.1m 15.58% Added +25.5k +25,500
31 Adventist Health System/ West 8.89% of their portfolio Roseville, CA 966,530966.5k $45.9m $45.9m 8.89% Unchanged
32 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 938,907938.9k $44.6m $44.6m 0.01% Reduced -208.5k -208,520
33 1832 Asset Management L.P. 0.08% of their portfolio TORONTO, A6 920,964921.0k $43.7m $43.7m 0.08% New
34 Cerity Partners LLC 0.06% of their portfolio NEW YORK, NY 797,648797.6k $16.7m $16.7m 0.06% Reduced -56.9k -56,878
35 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 752,306752.3k $35.7m $35.7m 0.07% Reduced -173.1k -173,096
36 Beaird Harris Wealth Management, LLC 3.68% of their portfolio DALLAS, TX 738,742738.7k $35.1m $35.1m 3.68% Added +48.7k +48,686
37 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 706,051706.1k $33.5m $33.5m 0.01% Reduced -307.6k -307,560
38 ASSETMARK, INC 0.11% of their portfolio CONCORD, CA 664,666664.7k $31.6m $31.6m 0.11% Added +2.5k +2,461
39 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 662,150662.1k $31.4m $31.4m 0.04% Reduced -152.0k -152,018
40 True Link Financial Advisors, LLC 3.25% of their portfolio SAN FRANCISCO, CA 632,616632.6k $30.0m $30.0m 3.25% Added +43.6k +43,611
41 Bleakley Financial Group, LLC 0.91% of their portfolio PARSIPPANY, NJ 606,023606.0k $28.8m $28.8m 0.91% Reduced -107.6k -107,612
42 Marotta Asset Management 6.18% of their portfolio CHARLOTTESVILLE, VA 605,931605.9k $28.8m $28.8m 6.18% Reduced -13.7k -13,708
43 Simplicity Solutions, LLC 0.79% of their portfolio MINNEAPOLIS, MN 605,718605.7k $28.8m $28.8m 0.79% Reduced -107.9k -107,917
44 STUDIO INVESTMENT MANAGEMENT LLC 7.19% of their portfolio CHICAGO, IL 593,050593.0k $28.2m $28.2m 7.19% Reduced -47.3k -47,252
45 Efficient Advisors, LLC 1.88% of their portfolio BEAVERTON, OR 587,746587.7k $27.9m $27.9m 1.88% Reduced -121.7k -121,652
46 Cetera Advisor Networks LLC 0.15% of their portfolio EL SEGUNDO, CA 560,529560.5k $26.6m $26.6m 0.15% Added +30.8k +30,845
47 FIRST HAWAIIAN BANK 0.82% of their portfolio HONOLULU, HI 546,380546.4k $25.9m $25.9m 0.82% Reduced -5.1k -5,125
48 MOLLER WEALTH PARTNERS 7.23% of their portfolio NORTHFIELD, IL 540,303540.3k $25.7m $25.7m 7.23% Added +30.3k +30,323
49 Compton Financial Group, LLC 9.02% of their portfolio TOWSON, MD 536,748536.7k $25.5m $25.5m 9.02% Reduced -9.8k -9,786
50 Cambridge Investment Research Advisors, Inc. 0.10% of their portfolio FAIRFIELD, IA 499,201499.2k $23.7m $23.7m 0.10% Added +68.5k +68,474
51 Alaska Permanent Capital Management, LLC 1.96% of their portfolio ANCHORAGE, AK 498,676498.7k $23.7m $23.7m 1.96% Reduced -28.9k -28,864
52 DORVAL Corp 11.32% of their portfolio MAPLE GROVE, MN 498,144498.1k $23.7m $23.7m 11.32% First filing
53 Savant Capital, LLC 0.29% of their portfolio ROCKFORD, IL 480,319480.3k $22.8m $22.8m 0.29% Added +223.7k +223,674
54 Schorn Wealth LLC 9.57% of their portfolio ENGLEWOOD, FL 473,670473.7k $22.5m $22.5m 9.57% New
55 Rappaport Reiches Capital Management, LLC 8.08% of their portfolio SKOKIE`, IL 464,882464.9k $22.1m $22.1m 8.08% Added +24.5k +24,518
56 ProVise Management Group, LLC 1.76% of their portfolio CLEARWATER, FL 436,983437.0k $20.8m $20.8m 1.76% Added +43.6k +43,647
57 Leonard Rickey Investment Advisors P.L.L.C. 5.91% of their portfolio YAKIMA, WA 420,071420.1k $19.9m $19.9m 5.91% Added +10.8k +10,786
58 Hirtle & Co., LLC 0.88% of their portfolio WEST CONSHOHOCKEN, PA 408,576408.6k $19.4m $19.4m 0.88% Reduced -43.9k -43,872
59 Atria Wealth Solutions, Inc. 0.24% of their portfolio NEW YORK, NY 408,016408.0k $19.4m $19.4m 0.24% Added +96.9k +96,865
60 RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio NEW YORK, NY 396,100396.1k $18.8m $18.8m 0.03% Added +306.6k +306,600
61 CoreCap Advisors, LLC 1.18% of their portfolio SOUTHFIELD, MI 383,928383.9k $18.2m $18.2m 1.18% Reduced -119.0k -119,012
62 Abbrea Capital, LLC 2.61% of their portfolio Greenbrae, CA 383,040383.0k $18.2m $18.2m 2.61% Reduced -46.1k -46,133
63 FINANCIAL CONSULATE, INC 5.91% of their portfolio HUNT VALLEY, MD 378,182378.2k $18.0m $18.0m 5.91% Added +2.3k +2,313
64 Elwood & Goetz Wealth Advisory Group, LLC 3.72% of their portfolio ATHENS, GA 370,562370.6k $17.6m $17.6m 3.72% Added +3.4k +3,352
65 TWIN FOCUS CAPITAL PARTNERS, LLC 3.57% of their portfolio Boston, MA 369,269369.3k $17.5m $17.5m 3.57% Added +9.5k +9,531
66 Brickley Wealth Management 4.17% of their portfolio SAN MATEO, CA 363,560363.6k $17.3m $17.3m 4.17% Added +8.2k +8,153
67 FOCUS FINANCIAL NETWORK INC /ADV 0.64% of their portfolio Minneapolis, MN 358,288358.3k $17.0m $17.0m 0.64% First filing
68 FARMERS & MERCHANTS INVESTMENTS INC 0.61% of their portfolio LINCOLN, NE 350,098350.1k $16.6m $16.6m 0.61% Reduced -16.8k -16,842
69 Creative Planning 0.03% of their portfolio OVERLAND PARK, KS 349,493349.5k $16.6m $16.6m 0.03% Reduced -69.3k -69,259
70 Pallas Capital Advisors LLC 0.86% of their portfolio BRAINTREE, MA 339,077339.1k $16.1m $16.1m 0.86% Added +41.3k +41,313
71 Wealthfront Advisers LLC 0.06% of their portfolio Palo Alto, CA 330,282330.3k $15.7m $15.7m 0.06% Reduced -986.5k -986,459
72 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 327,336327.3k $15.5m $15.5m 0.01% Reduced -65.8k -65,751
73 Apollon Wealth Management, LLC 0.53% of their portfolio MOUNT PLEASANT, SC 325,882325.9k $15.5m $15.5m 0.53% Added +48.9k +48,900
74 AMG National Trust Bank 0.48% of their portfolio GREENWOOD VILLAGE, CO 319,760319.8k $15.2m $15.2m 0.48% Added +148.5k +148,518
75 Cypress Capital, LLC 4.24% of their portfolio FRANKLIN, TN 313,497313.5k $14.9m $14.9m 4.24% Reduced -16.5k -16,535
76 Raymond James Financial Services Advisors, Inc. 0.02% of their portfolio ST. PETERSBURG, FL 310,188310.2k $14.7m $14.7m 0.02% Reduced -322.9k -322,865
77 Portland Global Advisors LLC 2.17% of their portfolio PORTLAND, ME 305,247305.2k $14.5m $14.5m 2.17% Added +2.8k +2,824
78 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 301,801301.8k $14.3m $14.3m 0.02% Reduced -94.9k -94,889
79 Baron Financial Group, LLC 8.76% of their portfolio Fair Lawn, NJ 289,218289.2k $13.7m $13.7m 8.76% Reduced -11.2k -11,170
80 VAN STRUM & TOWNE INC. 5.31% of their portfolio SAN FRANCISCO, CA 285,126285.1k $13.5m $13.5m 5.31% Reduced -13.8k -13,845
81 Executive Wealth Management, LLC 1.27% of their portfolio BRIGHTON, MI 283,697283.7k $13.5m $13.5m 1.27% Reduced -11.2k -11,203
82 Ameritas Advisory Services, LLC 0.73% of their portfolio Lincoln, NE 280,786280.8k $13.3m $13.3m 0.73% Added +212.8k +212,845
83 Symmetry Partners, LLC 0.72% of their portfolio GLASTONBURY, CT 279,287279.3k $13.3m $13.3m 0.72% Added +19.1k +19,146
84 Money Design Co.,Ltd. 0.73% of their portfolio TOKYO, M0 271,096271.1k $12.9m $12.9m 0.73% Added +37.4k +37,428
85 Stratos Investment Management, LLC 1.45% of their portfolio BEACHWOOD, OH 257,731257.7k $12.2m $12.2m 1.45% Added +17.9k +17,868
86 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 252,626252.6k $12.0m $12.0m 0.02% Reduced -17.1k -17,086
87 TRUST CO OF VERMONT 0.80% of their portfolio BRATTLEBORO, VT 252,595252.6k $12.0m $12.0m 0.80% Reduced -59.6k -59,572
88 COURIER CAPITAL LLC 0.89% of their portfolio BUFFALO, NY 247,961248.0k $11.8m $11.8m 0.89% Reduced -125.4k -125,402
89 Apella Capital, LLC 0.65% of their portfolio WEST HARTFORD, CT 245,474245.5k $11.6m $11.6m 0.65% Added +23.2k +23,176
90 True Wealth Design, LLC 3.20% of their portfolio AKRON, OH 239,594239.6k $11.4m $11.4m 3.20% Added +9.7k +9,738
91 Mariner, LLC 0.03% of their portfolio Overland Park, KS 238,383238.4k $11.3m $11.3m 0.03% Reduced -23.4k -23,352
92 Cresset Asset Management, LLC 0.07% of their portfolio Chicago, IL 235,448235.4k $11.2m $11.2m 0.07% Added +187.5k +187,513
93 AXXCESS WEALTH MANAGEMENT, LLC 0.33% of their portfolio CARLSBAD, CA 234,190234.2k $11.1m $11.1m 0.33% Reduced -20.5k -20,482
94 Cetera Investment Advisers 0.09% of their portfolio SCHAUMBURG, IL 230,020230.0k $10.9m $10.9m 0.09% Added +37.2k +37,211
95 Chemistry Wealth Management LLC 3.29% of their portfolio NEW YORK, NY 229,360229.4k $10.9m $10.9m 3.29% Added +3.0k +2,979
96 Capital Asset Advisory Services LLC 0.67% of their portfolio Williamston, MI 228,421228.4k $10.8m $10.8m 0.67% Reduced -15.2k -15,201
97 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 224,526224.5k $10.7m $10.7m 0.05% Reduced -21.7k -21,660
98 Fairway Wealth LLC 8.11% of their portfolio INDEPENDENCE, OH 223,092223.1k $10.6m $10.6m 8.11% First filing
99 CHATHAM CAPITAL GROUP, INC. 2.13% of their portfolio SAVANNAH, GA 221,930221.9k $10.5m $10.5m 2.13% Reduced -27.2k -27,220
100 Alaska Wealth Advisors, LLC 1.74% of their portfolio ANCHORAGE, AK 219,883219.9k $10.4m $10.4m 1.74% Reduced -149.6k -149,596