Vault-13

VANGUARD MALVERN FDS VTIP

STRM INFPROIDX · ETP · CUSIP 922020805

794 institutional holders +23 vs Q4 2024
174,028,711174.0m shares reported held*
$8.7bnreported value*
78 new 332 added 256 reduced 51 sold out net bought ≈ $710.2m (-908.4m 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 ($19.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $49.79. Options: 2 managers hold calls ($748.5k notional), 0 hold puts (—).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 786Q4 22: 814Q1 23: 778Q2 23: 767Q3 23: 734Q4 23: 766Q1 24: 721Q2 24: 734Q3 24: 703Q4 24: 771Q1 25: 794794Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022786
Q4 2022814
Q1 2023778
Q2 2023767
Q3 2023734
Q4 2023766
Q1 2024721
Q2 2024734
Q3 2024703
Q4 2024771
Q1 2025794

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q2 23: 263 bought or addedQ2 23: 423 cut or sold outQ3 23: 315 bought or addedQ3 23: 397 cut or sold outQ3 23Q4 23: 301 bought or addedQ4 23: 422 cut or sold outQ1 24: 276 bought or addedQ1 24: 420 cut or sold outQ1 24Q2 24: 295 bought or addedQ2 24: 385 cut or sold outQ3 24: 307 bought or addedQ3 24: 373 cut or sold outQ3 24Q4 24: 378 bought or addedQ4 24: 281 cut or sold outQ1 25: 410 bought or addedQ1 25: 307 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023263423
Q3 2023315397
Q4 2023301422
Q1 2024276420
Q2 2024295385
Q3 2024307373
Q4 2024378281
Q1 2025410307

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ2 24 calls: $1.0mQ2 24 puts: $92.2kQ2 24P/C 0.09Q3 24 calls: $694.4kQ3 24 puts: $374.8kQ3 24P/C 0.54Q4 24 calls: $449.8kQ4 24 puts: $4.8kQ4 24P/C 0.01Q1 25 calls: $748.5kQ1 25 puts: $0Q1 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q2 2024$1.0m$92.2k0.09
Q3 2024$694.4k$374.8k0.54
Q4 2024$449.8k$4.8k0.01
Q1 2025$748.5k$00.00

Biggest buyers

LPL Financial LLC Added +13,187,463+13.2m
Wealthspire Advisors, LLC Added +3,374,033+3.4m
RENAISSANCE TECHNOLOGIES LLC Added +1,070,847+1.1m
HighTower Advisors, LLC Added +739,599+739.6k
Garde Capital, Inc. New +634,768+634.8k
Empowered Funds, LLC New +628,930+628.9k
MORGAN STANLEY Added +623,996+624.0k
Beacon Capital Management, Inc. Added +619,771+619.8k
Focus Partners Advisor Solutions, LLC Added +531,122+531.1k
Savant Capital, LLC Added +527,329+527.3k

Biggest sellers

VAN STRUM & TOWNE INC. Reduced -922,604,059-922.6m
Essential Planning, LLC. Reduced -6,714,863-6.7m
Focus Partners Wealth Reduced -2,762,176-2.8m
JPMORGAN CHASE & CO Reduced -2,527,299-2.5m
GOLDMAN SACHS GROUP INC Reduced -1,020,356-1.0m
Compton Financial Group, LLC Reduced -679,689-679.7k
Betterment LLC Reduced -499,168-499.2k
Corient Private Wealth LP Reduced -335,471-335.5k
COMERICA BANK Reduced -313,935-313.9k
FMR LLC Reduced -309,257-309.3k

Biggest calls

CITADEL ADVISORS LLC Added $748.5k15.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

None

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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.07% of their portfolio NEW YORK, NY 18,564,32318.6m $926.4m $926.4m 0.07% Reduced -2.5m -2,527,299
2 LPL Financial LLC 0.29% of their portfolio FORT MILL, SC 14,856,97014.9m $741.4m $741.4m 0.29% Added +13.2m +13,187,463
3 SEI INVESTMENTS CO 0.56% of their portfolio OAKS, PA 8,713,6878.7m $434.8m $434.8m 0.56% Added +71.5k +71,550
4 Wealthspire Advisors, LLC 1.83% of their portfolio NEW YORK, NY 6,124,3606.1m $305.6m $305.6m 1.83% Added +3.4m +3,374,033
5 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 6,118,6976.1m $305.3m $305.3m 0.06% Reduced -1.0m -1,020,356
6 Valmark Advisers, Inc. 4.52% of their portfolio AKRON, OH 5,999,8696.0m $299.4m $299.4m 4.52% Added +195.3k +195,252
7 FMR LLC 0.02% of their portfolio BOSTON, MA 5,478,6595.5m $273.4m $273.4m 0.02% Reduced -309.3k -309,257
8 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 6.08% of their portfolio BOSTON, MA 4,247,1774.2m $211.9m $211.9m 6.08% Added +166.9k +166,878
9 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,147,7014.1m $207.0m $207.0m 0.01% Added +624.0k +623,996
10 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 4.99% of their portfolio Seattle, WA 3,877,7403.9m $193.5m $193.5m 4.99% Added +148.6k +148,645
11 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 3,562,5993.6m $177.8m $177.8m 0.02% Added +166.0k +166,042
12 Focus Partners Advisor Solutions, LLC 2.43% of their portfolio SAINT LOUIS, MO 3,207,1953.2m $160.0m $160.0m 2.43% Added +531.1k +531,122
13 Focus Partners Wealth 0.39% of their portfolio ST LOUIS, MO 3,103,2603.1m $154.9m $154.9m 0.39% Reduced -2.8m -2,762,176
14 Savant Capital, LLC 1.13% of their portfolio ROCKFORD, IL 2,682,3362.7m $133.8m $133.8m 1.13% Added +527.3k +527,329
15 HighTower Advisors, LLC 0.16% of their portfolio CHICAGO, IL 2,394,6242.4m $119.5m $119.5m 0.16% Added +739.6k +739,599
16 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 2,277,1332.3m $113.6m $113.6m 0.04% Added +260.6k +260,620
17 Betterment LLC 0.24% of their portfolio NEW YORK, NY 2,015,4422.0m $100.6m $100.6m 0.24% Reduced -499.2k -499,168
18 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,973,5662.0m $98.5m $98.5m 0.02% Added +122.8k +122,828
19 Alesco Advisors, LLC, An ESL Co 2.93% of their portfolio Pittsford, NY 1,869,4981.9m $93.3m $93.3m 2.93% Added +626 +626
20 Beacon Capital Management, Inc. 4.42% of their portfolio DAYTON, OH 1,776,9971.8m $88.7m $88.7m 4.42% Added +619.8k +619,771
21 RENAISSANCE TECHNOLOGIES LLC 0.13% of their portfolio NEW YORK, NY 1,759,5001.8m $87.8m $87.8m 0.13% Added +1.1m +1,070,847
22 SATOVSKY ASSET MANAGEMENT LLC 16.95% of their portfolio NEW YORK, NY 1,517,0591.5m $75.8m $75.8m 16.95% Added +32.3k +32,287
23 STUDIO INVESTMENT MANAGEMENT LLC 15.29% of their portfolio CHICAGO, IL 1,482,6501.5m $74.0m $74.0m 15.29% Added +448.4k +448,355
24 Klingman & Associates, LLC 4.30% of their portfolio New York, NY 1,408,9161.4m $70.3m $70.3m 4.30% Added +102.2k +102,152
25 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 1,243,6641.2m $62.1m $62.1m 0.01% Reduced -62.2k -62,200
26 Fairway Wealth LLC 6.73% of their portfolio INDEPENDENCE, OH 1,064,6181.1m $18.2m $18.2m 6.73% Reduced -45.6k -45,615
27 Corient Private Wealth LP 0.08% of their portfolio MIAMI, FL 976,070976.1k $48.7m $48.7m 0.08% Reduced -335.5k -335,471
28 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 972,552972.6k $48.5m $48.5m 0.01% Added +527.1k +527,119
29 Adventist Health System/ West 7.61% of their portfolio Roseville, CA 966,530966.5k $48.2m $48.2m 7.61% Unchanged
30 UBS Group AG 0.01% of their portfolio ZURICH, V8 957,865957.9k $47.8m $47.8m 0.01% Reduced -65.8k -65,774
31 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 945,408945.4k $47.2m $47.2m 0.04% Added +84.3k +84,335
32 EVOKE WEALTH, LLC 1.21% of their portfolio Los Angeles, CA 932,697932.7k $46.5m $46.5m 1.21% Added +115.4k +115,445
33 True Link Financial Advisors, LLC 3.38% of their portfolio SAN FRANCISCO, CA 908,541908.5k $45.3m $45.3m 3.38% Added +111.9k +111,941
34 CW Advisors, LLC 0.52% of their portfolio BOSTON, MA 870,067870.1k $43.4m $43.4m 0.52% Added +14.8k +14,849
35 Beaird Harris Wealth Management, LLC 3.65% of their portfolio DALLAS, TX 861,176861.2k $43.0m $43.0m 3.65% Added +18.2k +18,160
36 ASSETMARK, INC 0.11% of their portfolio CONCORD, CA 798,543798.5k $39.8m $39.8m 0.11% Added +32.4k +32,391
37 Bleakley Financial Group, LLC 1.26% of their portfolio PARSIPPANY, NJ 783,812783.8k $39.1m $39.1m 1.26% Added +32.4k +32,424
38 New York Life Investment Management LLC 0.38% of their portfolio New York, NY 748,222748.2k $37.3m $37.3m 0.38% Reduced -262.5k -262,507
39 Strategic Financial Services, Inc. 2.19% of their portfolio UTICA, NY 748,143748.1k $37.3m $37.3m 2.19% Added +38.8k +38,811
40 Cetera Investment Advisers 0.07% of their portfolio SCHAUMBURG, IL 745,643745.6k $37.2m $37.2m 0.07% Added +3.7k +3,694
41 Wealthfront Advisers LLC 0.10% of their portfolio Palo Alto, CA 718,116718.1k $35.8m $35.8m 0.10% Reduced -39.6k -39,648
42 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.35% of their portfolio Madrid, U3 698,819698.8k $35.0m $35.0m 0.35% Reduced -64.1k -64,135
43 Efficient Advisors, LLC 2.10% of their portfolio BEAVERTON, OR 647,679647.7k $32.3m $32.3m 2.10% Reduced -3.1k -3,057
44 Marotta Asset Management 6.26% of their portfolio CHARLOTTESVILLE, VA 647,044647.0k $31.9m $31.9m 6.26% Added +7.7k +7,659
45 MOLLER WEALTH PARTNERS 7.89% of their portfolio NORTHFIELD, IL 639,687639.7k $31.9m $31.9m 7.89% Added +36.5k +36,489
46 Garde Capital, Inc. 1.81% of their portfolio SEATTLE, WA 634,768634.8k $31.7m $31.7m 1.81% New
47 Empowered Funds, LLC 0.45% of their portfolio NEWTOWN SQUARE, PA 628,930628.9k $31.3m $31.3m 0.45% New
48 Rappaport Reiches Capital Management, LLC 7.17% of their portfolio SKOKIE`, IL 574,887574.9k $28.7m $28.7m 7.17% Added +18.0k +17,972
49 Schorn Wealth LLC 9.29% of their portfolio ENGLEWOOD, FL 564,799564.8k $28.2m $28.2m 9.29% Added +12.9k +12,922
50 Cerity Partners LLC 0.06% of their portfolio NEW YORK, NY 561,808561.8k $28.0m $28.0m 0.06% Added +8.3k +8,312
51 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 529,054529.1k $26.4m $26.4m 0.01% Added +6.9k +6,945
52 Stratos Investment Management, LLC 1.41% of their portfolio BEACHWOOD, OH 528,523528.5k $26.4m $26.4m 1.41% Added +23.9k +23,907
53 Leonard Rickey Investment Advisors P.L.L.C. 5.42% of their portfolio YAKIMA, WA 506,506506.5k $25.2m $25.2m 5.42% Added +14.0k +13,983
54 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 501,396501.4k $25.0m $25.0m 0.01% Added +9.2k +9,229
55 Almanack Investment Partners, LLC. 4.92% of their portfolio WAYNE, PA 497,537497.5k $24.8m $24.8m 4.92% Added +419.6k +419,631
56 Apella Capital, LLC 0.80% of their portfolio WEST HARTFORD, CT 469,607469.6k $23.4m $23.4m 0.80% Reduced -15.5k -15,505
57 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 449,969450.0k $22.5m $22.5m 0.05% Added +96.0k +95,978
58 FINANCIAL CONSULATE, INC 5.65% of their portfolio HUNT VALLEY, MD 448,168448.2k $22.4m $22.4m 5.65% Added +13.3k +13,275
59 Alaska Permanent Capital Management, LLC 1.75% of their portfolio ANCHORAGE, AK 417,364417.4k $20.8m $20.8m 1.75% Reduced -52.2k -52,172
60 NORTHWEST WEALTH MANAGEMENT, LLC 4.15% of their portfolio SPENCER, IA 417,314417.3k $20.8m $20.8m 4.15% Added +62.3k +62,314
61 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 410,958411.0k $20.5m $20.5m 0.01% Reduced -24.5k -24,485
62 DEFINE FINANCIAL, LLC 15.51% of their portfolio SAN DIEGO, CA 410,764410.8k $20.4m $20.4m 15.51% Added +27.3k +27,260
63 Whelan Financial 7.91% of their portfolio FRESNO, CA 407,527407.5k $20.3m $20.3m 7.91% New
64 ProVise Management Group, LLC 1.69% of their portfolio CLEARWATER, FL 398,465398.5k $19.9m $19.9m 1.69% Reduced -6.6k -6,611
65 ALTFEST L J & CO INC 2.47% of their portfolio NEW YORK, NY 394,632394.6k $19.7m $19.7m 2.47% New
66 Arlington Financial Advisors, LLC 3.41% of their portfolio SANTA BARBARA, CA 388,776388.8k $19.4m $19.4m 3.41% Added +368.5k +368,465
67 Brickley Wealth Management 3.98% of their portfolio SAN MATEO, CA 384,857384.9k $19.2m $19.2m 3.98% Added +4.8k +4,847
68 Atria Wealth Solutions, Inc. 0.23% of their portfolio NEW YORK, NY 382,937382.9k $19.1m $19.1m 0.23% Added +45.2k +45,159
69 Money Design Co.,Ltd. 0.93% of their portfolio TOKYO, M0 375,169375.2k $18.7m $18.7m 0.93% Added +75.3k +75,287
70 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 370,224370.2k $18.5m $18.5m 0.02% Reduced -2.4k -2,409
71 Portland Global Advisors LLC 2.33% of their portfolio PORTLAND, ME 369,924369.9k $18.5m $18.5m 2.33% Added +5.6k +5,551
72 NKCFO LLC 8.40% of their portfolio GENEVA, IL 361,700361.7k $18.0m $18.0m 8.40% Added +175.2k +175,200
73 BENNINGFIELD FINANCIAL ADVISORS, LLC 17.19% of their portfolio SAN FRANCISCO, CA 358,581358.6k $17.9m $17.9m 17.19% Added +12.3k +12,315
74 AMG National Trust Bank 0.48% of their portfolio GREENWOOD VILLAGE, CO 345,638345.6k $17.2m $17.2m 0.48% Added +54.4k +54,402
75 Sellwood Investment Partners LLC 8.95% of their portfolio PORTLAND, OR 343,742343.7k $17.2m $17.2m 8.95% Added +11.6k +11,621
76 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 343,326343.3k $17.1m $17.1m 0.00% Reduced -21.1k -21,100
77 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 339,958340.0k $17.0m $17.0m 0.02% Added +5.3k +5,306
78 FARMERS & MERCHANTS INVESTMENTS INC 0.53% of their portfolio LINCOLN, NE 333,386333.4k $16.6m $16.6m 0.53% Reduced -1.2k -1,219
79 SILVER OAK WEALTH ADVISORS SERVICES, LLC 14.28% of their portfolio LOS ANGELES, CA 320,889320.9k $16.0m $16.0m 14.28% Reduced -33.2k -33,189
80 TWIN FOCUS CAPITAL PARTNERS, LLC 2.46% of their portfolio Boston, MA 317,210317.2k $15.8m $15.8m 2.46% Reduced -51.4k -51,432
81 TRUST CO OF VERMONT 0.79% of their portfolio BRATTLEBORO, VT 316,059316.1k $15.8m $15.8m 0.79% Added +40.8k +40,810
82 Stratos Wealth Advisors, LLC 0.86% of their portfolio BEACHWOOD, OH 314,049314.0k $15.7m $15.7m 0.86% Added +271.7k +271,711
83 VAN STRUM & TOWNE INC. 5.25% of their portfolio SAN FRANCISCO, CA 313,136313.1k $15.6m $15.6m 5.25% Reduced -922.6m -922,604,059
84 Emprise Bank 8.31% of their portfolio WICHITA, KS 311,252311.3k $15.5m $15.5m 8.31% Added +74.6k +74,646
85 Addison Advisors LLC 4.07% of their portfolio MIDDLEBURY, VT 298,745298.7k $14.9m $14.9m 4.07% Added +42.7k +42,678
86 Prosperity Planning, Inc. 4.57% of their portfolio NORTH KANSAS CITY, MO 292,640292.6k $14.6m $14.6m 4.57% Added +11.9k +11,904
87 Chemistry Wealth Management LLC 3.29% of their portfolio NEW YORK, NY 283,576283.6k $14.2m $14.2m 3.29% Added +18.7k +18,705
88 Lifeworks Advisors, LLC 2.33% of their portfolio GRAND RAPIDS, MI 281,118281.1k $14.0m $14.0m 2.33% Added +48.0k +48,013
89 Equitable Holdings, Inc. 0.13% of their portfolio NEW YORK, NY 277,709277.7k $13.9m $13.9m 0.13% Added +100.8k +100,772
90 Burton Enright Welch 2.81% of their portfolio WALNUT CREEK, CA 276,909276.9k $13.8m $13.8m 2.81% Added +13.7k +13,656
91 Private Wealth Asset Management, LLC 1.98% of their portfolio OMAHA, NE 275,416275.4k $13.7m $13.7m 1.98% First filing
92 JACKSON THORNTON WEALTH MANAGEMENT, LLC 1.79% of their portfolio MONTGOMERY, AL 270,485270.5k $13.5m $13.5m 1.79% Added +11.0k +10,968
93 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 268,622268.6k $13.4m $13.4m 0.02% Reduced -2.6k -2,625
94 Richmond Brothers, Inc. 8.40% of their portfolio JACKSON, MI 266,434266.4k $13.3m $13.3m 8.40% Added +169.9k +169,881
95 Deane Retirement Strategies, Inc. 6.28% of their portfolio NEW ORLEANS, LA 264,132264.1k $13.2m $13.2m 6.28% Added +8.1k +8,109
96 Baron Financial Group, LLC 8.23% of their portfolio Fair Lawn, NJ 262,175262.2k $13.1m $13.1m 8.23% Reduced -715 -715
97 ATMOS ADVISORY, LLC 8.60% of their portfolio PITTSBURGH, PA 256,705256.7k $12.8m $12.8m 8.60% Added +20.3k +20,257
98 LPWM LLC 4.12% of their portfolio MINNEAPOLIS, MN 256,453256.5k $12.8m $12.8m 4.12% Added +7.3k +7,266
99 SWAN Capital LLC 5.90% of their portfolio PENSACOLA, FL 255,996256.0k $12.8m $12.8m 5.90% Reduced -20.0k -19,979
100 Carnegie Investment Counsel 0.30% of their portfolio PEPPER PIKE, OH 254,689254.7k $12.7m $12.7m 0.30% New