Vault-13

VANGUARD MALVERN FDS VTIP

STRM INFPROIDX · ETP · CUSIP 922020805

844 institutional holders +8 vs Q2 2025
232,195,562232.2m shares reported held*
$11.7bnreported value*
67 new 406 added 251 reduced 52 sold out net bought ≈ $2.0bn (+39.1m 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 ($24.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $50.55. Options: 4 managers hold calls ($3.6m notional), 0 hold puts (—).

Trends to Q3 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: 836Q3 25: 844844Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025844

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q4 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 25Q2 25: 455 bought or addedQ2 25: 301 cut or sold outQ3 25: 473 bought or addedQ3 25: 303 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023301422
Q1 2024276420
Q2 2024295385
Q3 2024307373
Q4 2024378281
Q1 2025410307
Q2 2025455301
Q3 2025473303

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ4 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 0.15Q3 25 calls: $3.6mQ3 25 puts: $0Q3 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q4 2024$449.8k$4.8k0.01
Q1 2025$748.5k$00.00
Q2 2025$2.9m$422.3k0.15
Q3 2025$3.6m$00.00

Biggest buyers

JPMORGAN CHASE & CO Added +31,553,399+31.6m
JANE STREET GROUP, LLC New +1,608,843+1.6m
BOK Financial Private Wealth, Inc. New +1,463,820+1.5m
LPL Financial LLC Added +840,059+840.1k
Wealthspire Advisors, LLC Added +645,690+645.7k
Focus Partners Advisor Solutions, LLC Added +628,505+628.5k
OSAIC HOLDINGS, INC. Added +454,023+454.0k
True Link Financial Advisors, LLC Added +428,623+428.6k
Fund Evaluation Group, LLC Added +382,219+382.2k
3EDGE Asset Management, LP New +358,688+358.7k

Biggest sellers

Corient Private Wealth LP Reduced -804,635-804.6k
New York Life Investment Management LLC Reduced -604,506-604.5k
ROYAL BANK OF CANADA Reduced -472,892-472.9k
Almanack Investment Partners, LLC. Reduced -413,231-413.2k
Beacon Capital Management, Inc. Reduced -362,185-362.2k
RENAISSANCE TECHNOLOGIES LLC Reduced -325,400-325.4k
Financial & Tax Architects, LLC Sold out -283,182-283.2k
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Reduced -269,730-269.7k
Beaird Harris Wealth Management, LLC Reduced -218,830-218.8k
ENVESTNET ASSET MANAGEMENT INC Reduced -209,539-209.5k

Biggest calls

CITADEL ADVISORS LLC Reduced $2.3m45.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $1.2m24.3k shares
GROUP ONE TRADING LLC New $20.3k400 shares
SIMPLEX TRADING, LLC Unchanged $10.0k200 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.09% of their portfolio NEW YORK, NY 57,390,31457.4m $2.9bn $2.9bn 0.09% Added +31.6m +31,553,399
2 LPL Financial LLC 0.26% of their portfolio FORT MILL, SC 17,450,75817.5m $883.5m $883.5m 0.26% Added +840.1k +840,059
3 SEI INVESTMENTS CO 0.47% of their portfolio OAKS, PA 8,584,4528.6m $434.6m $434.6m 0.47% Reduced -116.1k -116,140
4 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 8,488,8978.5m $429.8m $429.8m 0.06% Reduced -18.1k -18,149
5 Wealthspire Advisors, LLC 2.01% of their portfolio NEW YORK, NY 7,587,4847.6m $384.2m $384.2m 2.01% Added +645.7k +645,690
6 Valmark Advisers, Inc. 4.19% of their portfolio AKRON, OH 6,401,5756.4m $324.1m $324.1m 4.19% Added +263.8k +263,810
7 FMR LLC 0.01% of their portfolio BOSTON, MA 5,199,8765.2m $263.3m $263.3m 0.01% Reduced -153.4k -153,447
8 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 4.60% of their portfolio BOSTON, MA 4,957,3035.0m $250.8m $250.8m 4.60% Added +146.7k +146,680
9 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 4.38% of their portfolio Seattle, WA 4,300,5634.3m $217.7m $217.7m 4.38% Added +216.5k +216,471
10 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,267,9154.3m $216.1m $216.1m 0.01% Added +20.3k +20,299
11 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 3,872,9443.9m $196.1m $196.1m 0.06% Reduced -209.5k -209,539
12 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,806,1883.8m $192.7m $192.7m 0.01% Reduced -126.8k -126,811
13 Focus Partners Advisor Solutions, LLC 2.14% of their portfolio SAINT LOUIS, MO 3,743,7433.7m $188.4m $188.4m 2.14% Added +628.5k +628,505
14 Focus Partners Wealth 0.29% of their portfolio ST LOUIS, MO 3,584,8863.6m $181.7m $181.7m 0.29% Added +351.3k +351,336
15 Savant Capital, LLC 1.05% of their portfolio ROCKFORD, IL 3,420,9873.4m $173.2m $173.2m 1.05% Added +273.9k +273,863
16 HighTower Advisors, LLC 0.15% of their portfolio CHICAGO, IL 2,557,1432.6m $129.5m $129.5m 0.15% Added +143.2k +143,222
17 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 2,052,0772.1m $103.9m $103.9m 0.02% Added +75.5k +75,500
18 Alesco Advisors, LLC, An ESL Co 2.67% of their portfolio Pittsford, NY 1,946,6551.9m $98.6m $98.6m 2.67% Added +65.9k +65,883
19 Klingman & Associates, LLC 4.55% of their portfolio New York, NY 1,779,6601.8m $90.1m $90.1m 4.55% Added +160.8k +160,831
20 STUDIO INVESTMENT MANAGEMENT LLC 16.46% of their portfolio CHICAGO, IL 1,722,8491.7m $87.2m $87.2m 16.46% Added +160.2k +160,209
21 Betterment LLC 0.16% of their portfolio NEW YORK, NY 1,638,8381.6m $83.0m $83.0m 0.16% Reduced -94.3k -94,269
22 JANE STREET GROUP, LLC 0.10% of their portfolio NEW YORK, NY 1,608,8431.6m $81.5m $81.5m 0.10% New
23 SATOVSKY ASSET MANAGEMENT LLC 16.13% of their portfolio NEW YORK, NY 1,596,3791.6m $80.8m $80.8m 16.13% Added +58.6k +58,598
24 BOK Financial Private Wealth, Inc. 4.66% of their portfolio DENVER, CO 1,463,8201.5m $74.1m $74.1m 4.66% New
25 True Link Financial Advisors, LLC 4.43% of their portfolio SAN FRANCISCO, CA 1,360,3301.4m $68.9m $68.9m 4.43% Added +428.6k +428,623
26 EVOKE WEALTH, LLC 1.30% of their portfolio Los Angeles, CA 1,233,7381.2m $62.5m $62.5m 1.30% Added +157.7k +157,738
27 Fund Evaluation Group, LLC 2.19% of their portfolio CINCINNATI, OH 1,194,1241.2m $60.5m $60.5m 2.19% Added +382.2k +382,219
28 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 1,163,0611.2m $58.9m $58.9m 0.01% Reduced -42.2k -42,203
29 Fairway Wealth LLC 5.67% of their portfolio INDEPENDENCE, OH 1,109,1871.1m $20.2m $20.2m 5.67% Added +31.6k +31,625
30 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,087,2111.1m $55.0m $55.0m 0.01% Added +521 +521
31 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 1,058,1911.1m $53.6m $53.6m 0.04% Added +63.4k +63,364
32 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 971,000971.0k $49.2m $49.2m 0.01% Reduced -6.3k -6,328
33 OSAIC HOLDINGS, INC. 0.07% of their portfolio SCOTTSDALE, AZ 920,961921.0k $46.6m $46.6m 0.07% Added +454.0k +454,023
34 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 878,648878.6k $44.5m $44.5m 0.05% Added +75.8k +75,772
35 Bleakley Financial Group, LLC 1.02% of their portfolio PARSIPPANY, NJ 865,502865.5k $43.8m $43.8m 1.02% Added +65.4k +65,358
36 Beacon Capital Management, Inc. 2.08% of their portfolio DAYTON, OH 861,381861.4k $43.6m $43.6m 2.08% Reduced -362.2k -362,185
37 ASSETMARK, INC 0.09% of their portfolio CONCORD, CA 849,725849.7k $43.0m $43.0m 0.09% Added +27.2k +27,223
38 Garde Capital, Inc. 2.11% of their portfolio SEATTLE, WA 828,138828.1k $41.9m $41.9m 2.11% Added +82.7k +82,715
39 Strategic Financial Services, Inc. 1.98% of their portfolio UTICA, NY 777,530777.5k $39.4m $39.4m 1.98% Added +19.0k +19,019
40 Adventist Health System/ West 6.32% of their portfolio Roseville, CA 766,010766.0k $38.8m $38.8m 6.32% Unchanged
41 Wealthfront Advisers LLC 0.09% of their portfolio Palo Alto, CA 732,614732.6k $37.1m $37.1m 0.09% Reduced -13.9k -13,930
42 RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio NEW YORK, NY 730,300730.3k $37.0m $37.0m 0.05% Reduced -325.4k -325,400
43 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 729,732729.7k $36.9m $36.9m 0.01% Added +143.6k +143,599
44 MOLLER WEALTH PARTNERS 7.42% of their portfolio NORTHFIELD, IL 702,581702.6k $35.6m $35.6m 7.42% Added +24.1k +24,103
45 Efficient Advisors, LLC 1.98% of their portfolio BEAVERTON, OR 693,104693.1k $35.1m $35.1m 1.98% Added +57.9k +57,906
46 Cerity Partners LLC 0.05% of their portfolio NEW YORK, NY 651,001651.0k $33.0m $33.0m 0.05% Added +50.1k +50,057
47 Cornerstone National Bank & Trust Co 13.37% of their portfolio PALATINE, IL 647,390647.4k $32.8m $32.8m 13.37% Added +43.9k +43,939
48 Marotta Asset Management 6.03% of their portfolio CHARLOTTESVILLE, VA 640,500640.5k $32.0m $32.0m 6.03% Added +14.3k +14,260
49 ALTFEST L J & CO INC 3.62% of their portfolio NEW YORK, NY 640,169640.2k $32.4m $32.4m 3.62% Added +281.1k +281,127
50 Beaird Harris Wealth Management, LLC 2.27% of their portfolio DALLAS, TX 633,092633.1k $32.1m $32.1m 2.27% Reduced -218.8k -218,830
51 Pacific Sage Partners, LLC 5.21% of their portfolio EDMONDS, WA 614,052614.1k $31.1m $31.1m 5.21% Added +61.8k +61,826
52 Leonard Rickey Investment Advisors P.L.L.C. 5.76% of their portfolio YAKIMA, WA 604,231604.2k $30.6m $30.6m 5.76% Added +25.9k +25,865
53 SILVER OAK WEALTH ADVISORS SERVICES, LLC 19.99% of their portfolio LOS ANGELES, CA 599,179599.2k $30.3m $30.3m 19.99% Added +41.3k +41,334
54 Greystone Financial Group, LLC 4.65% of their portfolio BLOOMFIELD HILLS, MI 592,143592.1k $30.0m $30.0m 4.65% Reduced -105.3k -105,318
55 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 586,306586.3k $29.7m $29.7m 0.01% Reduced -472.9k -472,892
56 Stratos Investment Management, LLC 1.14% of their portfolio BEACHWOOD, OH 546,577546.6k $27.7m $27.7m 1.14% Added +16.7k +16,674
57 Arlington Financial Advisors, LLC 4.02% of their portfolio SANTA BARBARA, CA 540,009540.0k $27.3m $27.3m 4.02% Added +26.3k +26,284
58 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 501,653501.7k $25.4m $25.4m 0.01% Reduced -10.6k -10,558
59 Schorn Wealth LLC 7.68% of their portfolio ENGLEWOOD, FL 496,199496.2k $25.1m $25.1m 7.68% Reduced -5.8k -5,774
60 FINANCIAL CONSULATE, INC 3.53% of their portfolio HUNT VALLEY, MD 493,122493.1k $25.0m $25.0m 3.53% Added +24.7k +24,695
61 WEBSTER BANK, N. A. 2.23% of their portfolio WATERBURY, CT 457,708457.7k $23.2m $23.2m 2.23% Added +152.2k +152,238
62 TRUST CO OF VERMONT 0.99% of their portfolio BRATTLEBORO, VT 450,306450.3k $22.8m $22.8m 0.99% Added +92.0k +92,003
63 NORTHWEST WEALTH MANAGEMENT, LLC 3.73% of their portfolio SPENCER, IA 446,559446.6k $22.6m $22.6m 3.73% Added +12.9k +12,926
64 VAN STRUM & TOWNE INC. 6.60% of their portfolio SAN FRANCISCO, CA 443,497443.5k $22.5m $22.5m 6.60% Added +21.8k +21,786
65 DEFINE FINANCIAL, LLC 13.46% of their portfolio SAN DIEGO, CA 443,063443.1k $22.4m $22.4m 13.46% Added +22.3k +22,287
66 Alaska Permanent Capital Management, LLC 1.64% of their portfolio ANCHORAGE, AK 440,106440.1k $22.3m $22.3m 1.64% Added +10.9k +10,870
67 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.16% of their portfolio Madrid, U3 420,584420.6k $21.3m $21.3m 0.16% Reduced -269.7k -269,730
68 Whelan Financial 6.74% of their portfolio FRESNO, CA 420,283420.3k $21.3m $21.3m 6.74% Added +12.6k +12,550
69 ProVise Management Group, LLC 1.52% of their portfolio CLEARWATER, FL 406,839406.8k $20.6m $20.6m 1.52% Added +5.5k +5,492
70 Brickley Wealth Management 3.53% of their portfolio SAN MATEO, CA 399,483399.5k $20.2m $20.2m 3.53% Added +15.9k +15,902
71 Apella Capital, LLC 0.44% of their portfolio WEST HARTFORD, CT 395,091395.1k $19.8m $19.8m 0.44% Reduced -44.8k -44,763
72 BENNINGFIELD FINANCIAL ADVISORS, LLC 15.40% of their portfolio SAN FRANCISCO, CA 385,526385.5k $19.5m $19.5m 15.40% Added +20.4k +20,371
73 Deane Retirement Strategies, Inc. 8.32% of their portfolio NEW ORLEANS, LA 382,264382.3k $19.4m $19.4m 8.32% Reduced -3.5k -3,503
74 New York Life Investment Management LLC 0.17% of their portfolio New York, NY 370,877370.9k $18.8m $18.8m 0.17% Reduced -604.5k -604,506
75 Portland Global Advisors LLC 2.07% of their portfolio PORTLAND, ME 365,837365.8k $18.5m $18.5m 2.07% Added +11.7k +11,665
76 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 364,851364.9k $18.5m $18.5m 0.00% Reduced -11.3k -11,300
77 Addison Advisors LLC 4.25% of their portfolio MIDDLEBURY, VT 361,733361.7k $18.3m $18.3m 4.25% Added +37.8k +37,823
78 NKCFO LLC 5.51% of their portfolio GENEVA, IL 361,700361.7k $18.3m $18.3m 5.51% Unchanged
79 Sellwood Investment Partners LLC 7.28% of their portfolio PORTLAND, OR 361,210361.2k $18.3m $18.3m 7.28% Added +21.8k +21,769
80 3EDGE Asset Management, LP 1.02% of their portfolio Naples, FL 358,688358.7k $18.2m $18.2m 1.02% New
81 Emprise Bank 7.51% of their portfolio WICHITA, KS 343,777343.8k $17.4m $17.4m 7.51% Added +21.6k +21,569
82 Perigon Wealth Management, LLC 0.34% of their portfolio SAN FRANCISCO, CA 329,176329.2k $16.7m $16.7m 0.34% Added +28.6k +28,634
83 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 329,003329.0k $16.7m $16.7m 0.02% Added +6.2k +6,217
84 Equitable Holdings, Inc. 0.12% of their portfolio NEW YORK, NY 327,060327.1k $16.6m $16.6m 0.12% Added +21.3k +21,316
85 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 325,838325.8k $16.5m $16.5m 0.02% Reduced -39.2k -39,196
86 Private Wealth Asset Management, LLC 1.94% of their portfolio OMAHA, NE 325,060325.1k $16.5m $16.5m 1.94% Added +26.7k +26,668
87 TWIN FOCUS CAPITAL PARTNERS, LLC 2.09% of their portfolio Boston, MA 324,795324.8k $16.4m $16.4m 2.09% Added +7.7k +7,655
88 Chemistry Wealth Management LLC 3.08% of their portfolio NEW YORK, NY 315,025315.0k $15.9m $15.9m 3.08% Added +19.5k +19,504
89 Prosperity Planning, Inc. 4.27% of their portfolio NORTH KANSAS CITY, MO 312,837312.8k $15.8m $15.8m 4.27% Added +15.0k +14,972
90 Asset Management One Co., Ltd. 0.05% of their portfolio TOKYO, M0 311,587311.6k $15.8m $15.8m 0.05% New
91 Burton Enright Welch 2.36% of their portfolio WALNUT CREEK, CA 308,783308.8k $15.6m $15.6m 2.36% Added +13.3k +13,299
92 Beacon Pointe Advisors, LLC 0.13% of their portfolio NEWPORT BEACH, CA 307,140307.1k $15.6m $15.6m 0.13% Added +300.7k +300,711
93 Lifeworks Advisors, LLC 2.05% of their portfolio GRAND RAPIDS, MI 302,308302.3k $15.3m $15.3m 2.05% Added +6.7k +6,664
94 FARMERS & MERCHANTS INVESTMENTS INC 0.43% of their portfolio LINCOLN, NE 302,214302.2k $15.3m $15.3m 0.43% Reduced -33.8k -33,778
95 Advisory Services Network, LLC 0.22% of their portfolio ATLANTA, GA 300,957301.0k $15.2m $15.2m 0.22% Added +101.1k +101,064
96 JACKSON THORNTON WEALTH MANAGEMENT, LLC 1.51% of their portfolio MONTGOMERY, AL 296,849296.8k $14.9m $14.9m 1.51% Added +20.5k +20,545
97 Nova R Wealth, Inc. 6.21% of their portfolio OVERLAND PARK, KS 289,092289.1k $14.6m $14.6m 6.21% Added +128.7k +128,653
98 Carnegie Investment Counsel 0.27% of their portfolio PEPPER PIKE, OH 283,931283.9k $14.4m $14.4m 0.27% Added +20.7k +20,714
99 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 278,550278.6k $14.1m $14.1m 0.01% Added +17.4k +17,368
100 AMG National Trust Bank 0.34% of their portfolio GREENWOOD VILLAGE, CO 271,588271.6k $13.8m $13.8m 0.34% Reduced -77.0k -77,044