Vault-13

VANGUARD MALVERN FDS VTIP

STRM INFPROIDX · ETP · CUSIP 922020805

836 institutional holders +42 vs Q1 2025
195,266,449195.3m shares reported held*
$9.8bnreported value*
82 new 373 added 254 reduced 47 sold out net bought ≈ $1.1bn (+21.6m 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 ($25.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $50.19. Options: 4 managers hold calls ($2.9m notional), 1 hold puts ($422.3k).

Trends to Q2 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: 794Q2 25: 836836Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 2025836

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q3 23: 315 bought or addedQ3 23: 397 cut or sold outQ4 23: 301 bought or addedQ4 23: 422 cut or sold outQ4 23Q1 24: 276 bought or addedQ1 24: 420 cut or sold outQ2 24: 295 bought or addedQ2 24: 385 cut or sold outQ2 24Q3 24: 307 bought or addedQ3 24: 373 cut or sold outQ4 24: 378 bought or addedQ4 24: 281 cut or sold outQ4 24Q1 25: 410 bought or addedQ1 25: 307 cut or sold outQ2 25: 455 bought or addedQ2 25: 301 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023315397
Q4 2023301422
Q1 2024276420
Q2 2024295385
Q3 2024307373
Q4 2024378281
Q1 2025410307
Q2 2025455301

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ3 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 0.00Q2 25 calls: $2.9mQ2 25 puts: $422.3kQ2 25P/C 0.15
Numbers
QuarterCallsPutsP/C
Q3 2024$694.4k$374.8k0.54
Q4 2024$449.8k$4.8k0.01
Q1 2025$748.5k$00.00
Q2 2025$2.9m$422.3k0.15

Biggest buyers

JPMORGAN CHASE & CO Added +7,272,592+7.3m
GOLDMAN SACHS GROUP INC Added +2,388,349+2.4m
ENVESTNET ASSET MANAGEMENT INC Added +1,805,350+1.8m
LPL Financial LLC Added +1,753,729+1.8m
Wealthspire Advisors, LLC Added +817,434+817.4k
Fund Evaluation Group, LLC New +811,905+811.9k
Greystone Financial Group, LLC Added +676,593+676.6k
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Added +563,446+563.4k
ROYAL BANK OF CANADA Added +557,802+557.8k
Pacific Sage Partners, LLC New +552,226+552.2k

Biggest sellers

RENAISSANCE TECHNOLOGIES LLC Reduced -703,800-703.8k
Empowered Funds, LLC Sold out -628,930-628.9k
Beacon Capital Management, Inc. Reduced -553,431-553.4k
Betterment LLC Reduced -282,335-282.3k
Adventist Health System/ West Reduced -200,520-200.5k
Roble, Belko & Company, Inc Reduced -190,493-190.5k
Richmond Brothers, Inc. Reduced -143,743-143.7k
FMR LLC Reduced -125,336-125.3k
Stratos Wealth Advisors, LLC Reduced -124,744-124.7k
SWAN Capital LLC Reduced -124,014-124.0k

Biggest calls

CITADEL ADVISORS LLC Added $2.6m52.1k shares
WOLVERINE TRADING, LLC New $231.1k4.6k shares
SIMPLEX TRADING, LLC New $10.0k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $422.3k8.4k 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.09% of their portfolio NEW YORK, NY 25,836,91525.8m $1.3bn $1.3bn 0.09% Added +7.3m +7,272,592
2 LPL Financial LLC 0.28% of their portfolio FORT MILL, SC 16,610,69916.6m $835.0m $835.0m 0.28% Added +1.8m +1,753,729
3 SEI INVESTMENTS CO 0.51% of their portfolio OAKS, PA 8,700,5928.7m $437.4m $437.4m 0.51% Reduced -13.1k -13,095
4 GOLDMAN SACHS GROUP INC 0.07% of their portfolio NEW YORK, NY 8,507,0468.5m $427.6m $427.6m 0.07% Added +2.4m +2,388,349
5 Wealthspire Advisors, LLC 1.96% of their portfolio NEW YORK, NY 6,941,7946.9m $349.0m $349.0m 1.96% Added +817.4k +817,434
6 Valmark Advisers, Inc. 4.30% of their portfolio AKRON, OH 6,137,7656.1m $308.5m $308.5m 4.30% Added +137.9k +137,896
7 FMR LLC 0.02% of their portfolio BOSTON, MA 5,353,3235.4m $269.1m $269.1m 0.02% Reduced -125.3k -125,336
8 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 5.33% of their portfolio BOSTON, MA 4,810,6234.8m $241.8m $241.8m 5.33% Added +563.4k +563,446
9 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,247,6164.2m $213.5m $213.5m 0.01% Added +99.9k +99,915
10 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 4.64% of their portfolio Seattle, WA 4,084,0924.1m $205.3m $205.3m 4.64% Added +206.4k +206,352
11 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 4,082,4834.1m $205.2m $205.2m 0.06% Added +1.8m +1,805,350
12 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 3,932,9993.9m $197.7m $197.7m 0.02% Added +370.4k +370,400
13 Focus Partners Wealth 0.35% of their portfolio ST LOUIS, MO 3,233,5503.2m $162.6m $162.6m 0.35% Added +130.3k +130,290
14 Savant Capital, LLC 1.14% of their portfolio ROCKFORD, IL 3,147,1243.1m $158.2m $158.2m 1.14% Added +464.8k +464,788
15 Focus Partners Advisor Solutions, LLC 2.09% of their portfolio SAINT LOUIS, MO 3,115,2383.1m $156.6m $156.6m 2.09% Reduced -92.0k -91,957
16 HighTower Advisors, LLC 0.15% of their portfolio CHICAGO, IL 2,413,9212.4m $121.3m $121.3m 0.15% Added +19.3k +19,297
17 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,976,5772.0m $99.4m $99.4m 0.02% Added +3.0k +3,011
18 Alesco Advisors, LLC, An ESL Co 2.72% of their portfolio Pittsford, NY 1,880,7721.9m $94.5m $94.5m 2.72% Added +11.3k +11,274
19 Betterment LLC 0.19% of their portfolio NEW YORK, NY 1,733,1071.7m $87.1m $87.1m 0.19% Reduced -282.3k -282,335
20 Klingman & Associates, LLC 4.49% of their portfolio New York, NY 1,618,8291.6m $81.4m $81.4m 4.49% Added +209.9k +209,913
21 STUDIO INVESTMENT MANAGEMENT LLC 15.77% of their portfolio CHICAGO, IL 1,562,6401.6m $78.6m $78.6m 15.77% Added +80.0k +79,990
22 SATOVSKY ASSET MANAGEMENT LLC 16.46% of their portfolio NEW YORK, NY 1,537,7811.5m $77.3m $77.3m 16.46% Added +20.7k +20,722
23 Beacon Capital Management, Inc. 3.17% of their portfolio DAYTON, OH 1,223,5661.2m $61.5m $61.5m 3.17% Reduced -553.4k -553,431
24 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 1,205,2641.2m $60.6m $60.6m 0.01% Reduced -38.4k -38,400
25 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,086,6901.1m $54.6m $54.6m 0.01% Added +128.8k +128,825
26 Fairway Wealth LLC 5.99% of their portfolio INDEPENDENCE, OH 1,077,5621.1m $18.7m $18.7m 5.99% Added +12.9k +12,944
27 EVOKE WEALTH, LLC 1.27% of their portfolio Los Angeles, CA 1,076,0001.1m $54.1m $54.1m 1.27% Added +143.3k +143,303
28 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,059,1981.1m $53.2m $53.2m 0.01% Added +557.8k +557,802
29 RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio NEW YORK, NY 1,055,7001.1m $53.1m $53.1m 0.07% Reduced -703.8k -703,800
30 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 994,827994.8k $50.0m $50.0m 0.04% Added +49.4k +49,419
31 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 977,328977.3k $49.1m $49.1m 0.01% Added +4.8k +4,776
32 New York Life Investment Management LLC 0.46% of their portfolio New York, NY 975,383975.4k $49.0m $49.0m 0.46% Added +227.2k +227,161
33 True Link Financial Advisors, LLC 3.23% of their portfolio SAN FRANCISCO, CA 931,707931.7k $46.8m $46.8m 3.23% Added +23.2k +23,166
34 CW Advisors, LLC 0.43% of their portfolio BOSTON, MA 891,034891.0k $44.8m $44.8m 0.43% Added +21.0k +20,967
35 Corient Private Wealth LP 0.06% of their portfolio MIAMI, FL 866,198866.2k $43.5m $43.5m 0.06% Reduced -109.9k -109,872
36 Beaird Harris Wealth Management, LLC 3.31% of their portfolio DALLAS, TX 851,922851.9k $42.8m $42.8m 3.31% Reduced -9.3k -9,254
37 ASSETMARK, INC 0.10% of their portfolio CONCORD, CA 822,502822.5k $41.3m $41.3m 0.10% Added +24.0k +23,959
38 Fund Evaluation Group, LLC 1.58% of their portfolio CINCINNATI, OH 811,905811.9k $40.8m $40.8m 1.58% New
39 Cetera Investment Advisers 0.07% of their portfolio SCHAUMBURG, IL 802,876802.9k $40.4m $40.4m 0.07% Added +57.2k +57,233
40 Bleakley Financial Group, LLC 1.02% of their portfolio PARSIPPANY, NJ 800,144800.1k $40.2m $40.2m 1.02% Added +16.3k +16,332
41 Adventist Health System/ West 5.72% of their portfolio Roseville, CA 766,010766.0k $38.5m $38.5m 5.72% Reduced -200.5k -200,520
42 Strategic Financial Services, Inc. 2.05% of their portfolio UTICA, NY 758,511758.5k $38.1m $38.1m 2.05% Added +10.4k +10,368
43 Wealthfront Advisers LLC 0.10% of their portfolio Palo Alto, CA 746,544746.5k $37.5m $37.5m 0.10% Added +28.4k +28,428
44 Garde Capital, Inc. 2.01% of their portfolio SEATTLE, WA 745,423745.4k $37.5m $37.5m 2.01% Added +110.7k +110,655
45 Greystone Financial Group, LLC 5.77% of their portfolio BLOOMFIELD HILLS, MI 697,461697.5k $35.1m $35.1m 5.77% Added +676.6k +676,593
46 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.31% of their portfolio Madrid, U3 690,314690.3k $34.6m $34.6m 0.31% Reduced -8.5k -8,505
47 MOLLER WEALTH PARTNERS 7.53% of their portfolio NORTHFIELD, IL 678,478678.5k $34.1m $34.1m 7.53% Added +38.8k +38,791
48 Efficient Advisors, LLC 1.90% of their portfolio BEAVERTON, OR 635,198635.2k $31.9m $31.9m 1.90% Reduced -12.5k -12,481
49 Marotta Asset Management 6.31% of their portfolio CHARLOTTESVILLE, VA 626,240626.2k $31.5m $31.5m 6.31% Reduced -20.8k -20,804
50 Cornerstone National Bank & Trust Co 13.04% of their portfolio PALATINE, IL 603,451603.5k $30.3m $30.3m 13.04% Added +368.5k +368,506
51 Cerity Partners LLC 0.05% of their portfolio NEW YORK, NY 600,944600.9k $30.2m $30.2m 0.05% Added +39.1k +39,136
52 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 586,133586.1k $29.5m $29.5m 0.01% Added +57.1k +57,079
53 Leonard Rickey Investment Advisors P.L.L.C. 5.81% of their portfolio YAKIMA, WA 578,366578.4k $29.1m $29.1m 5.81% Added +71.9k +71,860
54 SILVER OAK WEALTH ADVISORS SERVICES, LLC 20.21% of their portfolio LOS ANGELES, CA 557,845557.8k $28.0m $28.0m 20.21% Added +237.0k +236,956
55 Pacific Sage Partners, LLC 5.51% of their portfolio EDMONDS, WA 552,226552.2k $27.8m $27.8m 5.51% New
56 Stratos Investment Management, LLC 1.22% of their portfolio BEACHWOOD, OH 529,903529.9k $26.6m $26.6m 1.22% Added +1.4k +1,380
57 Arlington Financial Advisors, LLC 4.23% of their portfolio SANTA BARBARA, CA 513,725513.7k $25.8m $25.8m 4.23% Added +124.9k +124,949
58 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 512,211512.2k $25.7m $25.7m 0.01% Added +101.3k +101,253
59 Schorn Wealth LLC 8.35% of their portfolio ENGLEWOOD, FL 501,973502.0k $25.2m $25.2m 8.35% Reduced -62.8k -62,826
60 Almanack Investment Partners, LLC. 3.96% of their portfolio WAYNE, PA 495,257495.3k $24.9m $24.9m 3.96% Reduced -2.3k -2,280
61 Atria Wealth Solutions, Inc. 0.54% of their portfolio NEW YORK, NY 474,028474.0k $23.8m $23.8m 0.54% Added +91.1k +91,091
62 FINANCIAL CONSULATE, INC 4.65% of their portfolio HUNT VALLEY, MD 468,427468.4k $23.5m $23.5m 4.65% Added +20.3k +20,259
63 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 466,938466.9k $23.5m $23.5m 0.04% Added +17.0k +16,969
64 Apella Capital, LLC 0.59% of their portfolio WEST HARTFORD, CT 439,854439.9k $21.9m $21.9m 0.59% Reduced -29.8k -29,753
65 NORTHWEST WEALTH MANAGEMENT, LLC 3.94% of their portfolio SPENCER, IA 433,633433.6k $21.8m $21.8m 3.94% Added +16.3k +16,319
66 Alaska Permanent Capital Management, LLC 1.67% of their portfolio ANCHORAGE, AK 429,236429.2k $21.6m $21.6m 1.67% Added +11.9k +11,872
67 VAN STRUM & TOWNE INC. 6.69% of their portfolio SAN FRANCISCO, CA 421,711421.7k $21.2m $21.2m 6.69% Added +108.6k +108,575
68 DEFINE FINANCIAL, LLC 13.94% of their portfolio SAN DIEGO, CA 420,776420.8k $21.2m $21.2m 13.94% Added +10.0k +10,012
69 Whelan Financial 7.41% of their portfolio FRESNO, CA 407,733407.7k $20.5m $20.5m 7.41% Added +206 +206
70 ProVise Management Group, LLC 1.59% of their portfolio CLEARWATER, FL 401,347401.3k $20.2m $20.2m 1.59% Added +2.9k +2,882
71 Deane Retirement Strategies, Inc. 8.69% of their portfolio NEW ORLEANS, LA 385,767385.8k $19.4m $19.4m 8.69% Added +121.6k +121,635
72 Brickley Wealth Management 3.77% of their portfolio SAN MATEO, CA 383,581383.6k $19.3m $19.3m 3.77% Reduced -1.3k -1,276
73 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 380,854380.9k $19.1m $19.1m 0.02% Added +10.6k +10,630
74 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 376,151376.2k $18.9m $18.9m 0.01% Added +32.8k +32,825
75 BENNINGFIELD FINANCIAL ADVISORS, LLC 15.84% of their portfolio SAN FRANCISCO, CA 365,155365.2k $18.4m $18.4m 15.84% Added +6.6k +6,574
76 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 365,034365.0k $18.4m $18.4m 0.02% Added +96.4k +96,412
77 NKCFO LLC 7.59% of their portfolio GENEVA, IL 361,700361.7k $18.2m $18.2m 7.59% Unchanged
78 ALTFEST L J & CO INC 2.13% of their portfolio NEW YORK, NY 359,042359.0k $18.0m $18.0m 2.13% Reduced -35.6k -35,590
79 TRUST CO OF VERMONT 0.85% of their portfolio BRATTLEBORO, VT 358,303358.3k $18.0m $18.0m 0.85% Added +42.2k +42,244
80 Portland Global Advisors LLC 2.10% of their portfolio PORTLAND, ME 354,172354.2k $17.8m $17.8m 2.10% Reduced -15.8k -15,752
81 AMG National Trust Bank 0.46% of their portfolio GREENWOOD VILLAGE, CO 348,632348.6k $17.5m $17.5m 0.46% Added +3.0k +2,994
82 CONNABLE OFFICE INC 1.72% of their portfolio KALAMAZOO, MI 345,339345.3k $17.4m $17.4m 1.72% Added +221.1k +221,077
83 Sellwood Investment Partners LLC 8.15% of their portfolio PORTLAND, OR 339,441339.4k $17.1m $17.1m 8.15% Reduced -4.3k -4,301
84 FARMERS & MERCHANTS INVESTMENTS INC 0.49% of their portfolio LINCOLN, NE 335,992336.0k $16.9m $16.9m 0.49% Added +2.6k +2,606
85 Money Design Co.,Ltd. 0.78% of their portfolio TOKYO, M0 331,306331.3k $16.7m $16.7m 0.78% Reduced -43.9k -43,863
86 Addison Advisors LLC 4.06% of their portfolio MIDDLEBURY, VT 323,910323.9k $16.3m $16.3m 4.06% Added +25.2k +25,165
87 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 322,786322.8k $16.2m $16.2m 0.02% Reduced -17.2k -17,172
88 Emprise Bank 7.77% of their portfolio WICHITA, KS 322,208322.2k $16.2m $16.2m 7.77% Added +11.0k +10,956
89 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 318,516318.5k $17.1m $17.1m 0.02% Added +295.9k +295,935
90 TWIN FOCUS CAPITAL PARTNERS, LLC 2.23% of their portfolio Boston, MA 317,140317.1k $15.9m $15.9m 2.23% Reduced -70 -70
91 Equitable Holdings, Inc. 0.13% of their portfolio NEW YORK, NY 305,744305.7k $15.4m $15.4m 0.13% Added +28.0k +28,035
92 WEBSTER BANK, N. A. 1.59% of their portfolio WATERBURY, CT 305,470305.5k $15.4m $15.4m 1.59% Added +223.6k +223,638
93 Perigon Wealth Management, LLC 0.35% of their portfolio SAN FRANCISCO, CA 300,542300.5k $15.1m $15.1m 0.35% Added +64.8k +64,789
94 Cambridge Investment Research Advisors, Inc. 0.05% of their portfolio FAIRFIELD, IA 299,674299.7k $15.1m $15.1m 0.05% Added +70.7k +70,696
95 Private Wealth Asset Management, LLC 1.99% of their portfolio OMAHA, NE 298,392298.4k $15.0m $15.0m 1.99% Added +23.0k +22,976
96 Prosperity Planning, Inc. 4.32% of their portfolio NORTH KANSAS CITY, MO 297,865297.9k $15.0m $15.0m 4.32% Added +5.2k +5,225
97 Lifeworks Advisors, LLC 2.22% of their portfolio GRAND RAPIDS, MI 295,644295.6k $14.9m $14.9m 2.22% Added +14.5k +14,526
98 Chemistry Wealth Management LLC 3.19% of their portfolio NEW YORK, NY 295,521295.5k $14.9m $14.9m 3.19% Added +11.9k +11,945
99 Burton Enright Welch 2.58% of their portfolio WALNUT CREEK, CA 295,484295.5k $14.9m $14.9m 2.58% Added +18.6k +18,575
100 Financial & Tax Architects, LLC 3.46% of their portfolio ST LOUIS, MO 283,182283.2k $14.2m $14.2m 3.46% New