Vault-13

VANGUARD BD INDEX FDS VUSB

VANGUARD ULTRA · ETP · CUSIP 92203C303

436 institutional holders +49 vs Q3 2025
73,008,33873.0m shares reported held*
$3.6bnreported value*
58 new 187 added 100 reduced 28 sold out net sold ≈ $781.8m (-15.8m 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 ($292.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $49.98.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 242Q4 22: 270Q1 23: 275Q2 23: 284Q3 23: 285Q4 23: 296Q1 24: 300Q2 24: 301Q3 24: 302Q4 24: 318Q1 25: 343Q2 25: 360Q3 25: 387Q4 25: 436436Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022242
Q4 2022270
Q1 2023275
Q2 2023284
Q3 2023285
Q4 2023296
Q1 2024300
Q2 2024301
Q3 2024302
Q4 2024318
Q1 2025343
Q2 2025360
Q3 2025387
Q4 2025436

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 24: 141 bought or addedQ1 24: 131 cut or sold outQ2 24: 129 bought or addedQ2 24: 139 cut or sold outQ2 24Q3 24: 130 bought or addedQ3 24: 139 cut or sold outQ4 24: 137 bought or addedQ4 24: 133 cut or sold outQ4 24Q1 25: 186 bought or addedQ1 25: 132 cut or sold outQ2 25: 184 bought or addedQ2 25: 127 cut or sold outQ2 25Q3 25: 214 bought or addedQ3 25: 136 cut or sold outQ4 25: 245 bought or addedQ4 25: 128 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024141131
Q2 2024129139
Q3 2024130139
Q4 2024137133
Q1 2025186132
Q2 2025184127
Q3 2025214136
Q4 2025245128

Biggest buyers

Kensington Asset Management, LLC Added +916,533+916.5k
LPL Financial LLC Added +842,842+842.8k
Bramshill Investments, LLC Added +656,947+656.9k
Charter Oak Capital Management, LLC Added +571,471+571.5k
Fortitude Advisory Group L.L.C. New +508,287+508.3k
BANK OF AMERICA CORP /DE/ Added +474,757+474.8k
WELLS FARGO & COMPANY/MN Added +300,671+300.7k
CFO4Life Group, LLC New +296,102+296.1k
HighTower Advisors, LLC Added +292,884+292.9k
TITLEIST ASSET MANAGEMENT, LLC Added +199,803+199.8k

Biggest sellers

JPMORGAN CHASE & CO Reduced -23,053,577-23.1m
Alpine Bank Wealth Management Reduced -446,202-446.2k
Mesirow Financial Investment Management, Inc. Reduced -133,999-134.0k
Kintayl Capital LP Sold out -120,600-120.6k
David Kennon Inc Reduced -116,483-116.5k
Global Wealth Management, LLC Reduced -110,311-110.3k
McClarren Financial Advisors, Inc. Reduced -96,104-96.1k
Blue Trust, Inc. Reduced -71,161-71.2k
Aberdeen Wealth Management LLC Sold out -67,481-67.5k
PITCAIRN CO Sold out -65,155-65.2k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.08% of their portfolio NEW YORK, NY 25,077,86725.1m $1.2bn $1.2bn 0.08% Reduced -23.1m -23,053,577
2 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,260,1503.3m $162.5m $162.5m 0.01% Added +474.8k +474,757
3 Bramshill Investments, LLC 8.90% of their portfolio NAPLES, FL 3,159,9703.2m $157.5m $157.5m 8.90% Added +656.9k +656,947
4 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 2,847,4572.8m $141.9m $141.9m 0.03% Added +300.7k +300,671
5 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 2,011,5482.0m $100.3m $100.3m 0.03% Added +842.8k +842,842
6 Blue Trust, Inc. 1.10% of their portfolio BRENTWOOD, TN 1,945,0491.9m $96.9m $96.9m 1.10% Reduced -71.2k -71,161
7 HighTower Advisors, LLC 0.09% of their portfolio CHICAGO, IL 1,618,7221.6m $80.7m $80.7m 0.09% Added +292.9k +292,884
8 Wharton Business Group, LLC 2.69% of their portfolio MALVERN, PA 1,418,5341.4m $70.7m $70.7m 2.69% Added +50.6k +50,610
9 Avion Wealth 13.70% of their portfolio THE WOODLANDS, TX 1,310,1531.3m $65.3m $65.3m 13.70% Added +135.9k +135,885
10 Kensington Asset Management, LLC 2.85% of their portfolio AUSTIN, TX 1,105,5681.1m $55.1m $55.1m 2.85% Added +916.5k +916,533
11 Pacific Center for Financial Services 12.77% of their portfolio DANVILLE, CA 1,001,8371.0m $50.1m $50.1m 12.77% Unchanged
12 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 695,302695.3k $34.7m $34.7m 0.01% Added +134.5k +134,476
13 Red Wave Investments LLC 9.69% of their portfolio DILLSBURG, PA 653,738653.7k $32.6m $32.6m 9.69% Added +16.5k +16,465
14 Charter Oak Capital Management, LLC 2.20% of their portfolio PORTSMOUTH, NH 578,483578.5k $28.8m $28.8m 2.20% Added +571.5k +571,471
15 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 527,334527.3k $26.3m $26.3m 0.04% Added +136.4k +136,371
16 55 North Private Wealth, LLC 6.79% of their portfolio WINTER PARK, FL 516,915516.9k $25.8m $25.8m 6.79% First filing
17 Fortitude Advisory Group L.L.C. 10.76% of their portfolio GIG HARBOR, WA 508,287508.3k $25.3m $25.3m 10.76% New
18 Fonville Wealth Management LLC 4.92% of their portfolio RICHMOND, VA 482,882482.9k $24.1m $24.1m 4.92% Added +35.2k +35,231
19 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 480,692480.7k $24.0m $24.0m 0.06% Added +56.4k +56,421
20 Alpha Omega Wealth Management LLC 3.97% of their portfolio RICHMOND, VA 480,524480.5k $23.9m $23.9m 3.97% Added +33.1k +33,076
21 RAFFA WEALTH MANAGEMENT, LLC 3.49% of their portfolio WASHINGTON, DC 454,953455.0k $22.7m $22.7m 3.49% Reduced -31.8k -31,817
22 Spectrum Asset Management, Inc. (NB/CA) 7.52% of their portfolio NEWPORT BEACH, CA 452,395452.4k $22.5m $22.5m 7.52% Added +23.9k +23,928
23 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 444,386444.4k $22.1m $22.1m 0.00% Added +125.8k +125,822
24 Clarius Group, LLC 1.18% of their portfolio SEATTLE, WA 413,417413.4k $20.6m $20.6m 1.18% Added +105.3k +105,275
25 Waverly Advisors, LLC 0.17% of their portfolio BIRMINGHAM, AL 409,130409.1k $20.4m $20.4m 0.17% Reduced -9.8k -9,796
26 LOWE BROCKENBROUGH & CO INC 1.00% of their portfolio RICHMOND, VA 408,718408.7k $20.4m $20.4m 1.00% Added +70.6k +70,569
27 Eagle Capital Management, LLC 7.39% of their portfolio MANDEVILLE, LA 407,709407.7k $20.3m $20.3m 7.39% Added +36.7k +36,736
28 David Kennon Inc 6.95% of their portfolio SARASOTA, FL 392,286392.3k $19.6m $19.6m 6.95% Reduced -116.5k -116,483
29 Global Wealth Management, LLC 10.17% of their portfolio KINGSTON, NJ 379,070379.1k $18.9m $18.9m 10.17% Reduced -110.3k -110,311
30 NKCFO LLC 5.32% of their portfolio GENEVA, IL 369,250369.2k $18.4m $18.4m 5.32% Added +20.0k +20,000
31 Coyle Financial Counsel LLC 3.86% of their portfolio Glenview, IL 361,964362.0k $18.0m $18.0m 3.86% Added +16.1k +16,059
32 TITLEIST ASSET MANAGEMENT, LLC 1.44% of their portfolio SAN ANTONIO, TX 357,023357.0k $17.8m $17.8m 1.44% Added +199.8k +199,803
33 Valtinson Bruner Financial Planning LLC 4.94% of their portfolio NEW BRIGHTON, MN 344,647344.6k $17.2m $17.2m 4.94% Reduced -39.6k -39,560
34 Fortis Advisors, LLC 9.41% of their portfolio WAYNE, PA 342,921342.9k $17.1m $17.1m 9.41% Added +873 +873
35 HORIZON KINETICS ASSET MANAGEMENT LLC 0.23% of their portfolio NEW YORK, NY 342,542342.5k $17.1m $17.1m 0.23% Added +78.7k +78,720
36 Calder Financial LLC 16.19% of their portfolio DOWNINGTOWN, PA 330,867330.9k $16.5m $16.5m 16.19% First filing
37 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 302,648302.6k $15.1m $15.1m 0.01% Added +5.7k +5,666
38 CFO4Life Group, LLC 2.10% of their portfolio COPPELL, TX 296,102296.1k $14.8m $14.8m 2.10% New
39 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 286,989287.0k $14.3m $14.3m 0.02% Added +62.3k +62,323
40 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 285,481285.5k $14.2m $14.2m 0.02% Added +56.0k +56,016
41 OneDigital Investment Advisors LLC 0.14% of their portfolio OVERLAND PARK, KS 283,610283.6k $14.1m $14.1m 0.14% Added +147.6k +147,572
42 TruWealth Advisors, LLC 0.69% of their portfolio Metairie, LA 282,561282.6k $14.1m $14.1m 0.69% Added +16.6k +16,645
43 Blom & Howell Financial Planning, Inc. 13.92% of their portfolio MODESTO, CA 281,095281.1k $14.0m $14.0m 13.92% First filing
44 CAPTRUST FINANCIAL ADVISORS 0.03% of their portfolio RALEIGH, NC 278,733278.7k $13.9m $13.9m 0.03% Reduced -29.6k -29,648
45 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 267,512267.5k $13.3m $13.3m 0.02% Reduced -40.3k -40,334
46 Kestra Advisory Services, LLC 0.05% of their portfolio AUSTIN, TX 262,391262.4k $13.1m $13.1m 0.05% Added +19.2k +19,159
47 Colony Family Offices, LLC 3.11% of their portfolio CHARLOTTE, NC 249,692249.7k $12.4m $12.4m 3.11% Added +18.1k +18,061
48 FOUNDERS GROVE WEALTH PARTNERS, LLC 2.76% of their portfolio RICHMOND, VA 245,918245.9k $12.3m $12.3m 2.76% Added +24.2k +24,181
49 BlueChip Wealth Advisors LLC 4.99% of their portfolio Milton, GA 238,265238.3k $11.9m $11.9m 4.99% Added +6.1k +6,112
50 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 230,678230.7k $11.5m $11.5m 0.01% Added +108.4k +108,370
51 KITCHING PARTNERS, LLC 10.03% of their portfolio CONSHOHOCKEN, PA 220,459220.5k $11.0m $11.0m 10.03% Added +9.8k +9,849
52 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 216,893216.9k $10.8m $10.8m 0.01% Added +49.0k +49,036
53 ECLECTIC ASSOCIATES INC /ADV 1.64% of their portfolio FULLERTON, CA 210,456210.5k $10.5m $10.5m 1.64% Added +22.6k +22,566
54 SpringVest Wealth Management LLC 7.08% of their portfolio DALLAS, TX 203,716203.7k $10.2m $10.2m 7.08% Reduced -5.2k -5,173
55 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 189,411189.4k $9.4m $9.4m 0.00% Added +7.8k +7,820
56 Rothschild Wealth LLC 0.90% of their portfolio OAK BROOK, IL 188,217188.2k $9.4m $9.4m 0.90% Added +183.3k +183,325
57 AE Wealth Management LLC 0.05% of their portfolio TOPEKA, KS 185,722185.7k $9.3m $9.3m 0.05% Reduced -6.3k -6,322
58 Schulz Wealth, LTD. 5.67% of their portfolio MANSFIELD, TX 177,475177.5k $8.8m $8.8m 5.67% Added +7.8k +7,816
59 BLAIR WILLIAM & CO/IL 0.02% of their portfolio CHICAGO, IL 174,646174.6k $8.7m $8.7m 0.02% Reduced -750 -750
60 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 169,873169.9k $8.5m $8.5m 0.02% Added +9.6k +9,575
61 MorganRosel Wealth Management, LLC 2.10% of their portfolio HIGHLANDS RANCH, CO 168,282168.3k $8.4m $8.4m 2.10% Added +12.8k +12,790
62 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 166,321166.3k $8.3m $8.3m 0.01% New
63 Apella Capital, LLC 0.16% of their portfolio WEST HARTFORD, CT 159,273159.3k $7.9m $7.9m 0.16% Reduced -21.6k -21,598
64 NVWM, LLC 1.71% of their portfolio YARDLEY, PA 157,359157.4k $7.8m $7.8m 1.71% Added +914 +914
65 Leeward Financial Partners, LLC 2.19% of their portfolio Bellevue, WA 156,338156.3k $7.8m $7.8m 2.19% Added +65.3k +65,274
66 KEYNOTE FINANCIAL SERVICES LLC 4.10% of their portfolio VERNON, CT 147,214147.2k $7.3m $7.3m 4.10% Added +44.5k +44,533
67 Signature Wealth Management Group 2.92% of their portfolio ATLANTA, GA 143,856143.9k $7.2m $7.2m 2.92% Reduced -5.3k -5,284
68 Steward Partners Investment Advisory, LLC 0.04% of their portfolio STAMFORD, CT 142,574142.6k $7.1m $7.1m 0.04% Added +6.6k +6,596
69 HARBOUR INVESTMENT MANAGEMENT LLC 3.74% of their portfolio EDMONDS, WA 141,615141.6k $7.1m $7.1m 3.74% Added +40.8k +40,790
70 EVERETT HARRIS & CO /CA/ 0.08% of their portfolio LOS ANGELES, CA 139,400139.4k $6.9m $6.9m 0.08% New
71 Mesirow Financial Investment Management, Inc. 0.14% of their portfolio CHICAGO, IL 136,826136.8k $6.8m $6.8m 0.14% Reduced -134.0k -133,999
72 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 134,958135.0k $6.7m $6.7m 0.00% Reduced -2.5k -2,509
73 Crews Bank & Trust 0.95% of their portfolio PORT CHARLOTTE, FL 133,301133.3k $6.6m $6.6m 0.95% Added +14.8k +14,778
74 Mariner, LLC 0.01% of their portfolio Overland Park, KS 133,000133.0k $6.6m $6.6m 0.01% Added +28.2k +28,171
75 DeLarme Wealth Management, Inc. 4.59% of their portfolio PALOS VERDES ESTATES, CA 129,779129.8k $6.5m $6.5m 4.59% First filing
76 Chicago Partners Investment Group LLC 0.16% of their portfolio CHICAGO, IL 127,529127.5k $6.4m $6.4m 0.16% Added +31.8k +31,782
77 Capital Analysts, LLC 0.18% of their portfolio FORT WASHINGTON, PA 126,986127.0k $6.3m $6.3m 0.18% Reduced -16.5k -16,511
78 IHT Wealth Management, LLC 0.15% of their portfolio Chicago, IL 124,398124.4k $6.2m $6.2m 0.15% Added +54.4k +54,360
79 HTG Investment Advisors, Inc. 1.89% of their portfolio NEW CANAAN, CT 123,182123.2k $6.1m $6.1m 1.89% Added +19.1k +19,145
80 M Holdings Securities, Inc. 0.44% of their portfolio PORTLAND, OR 122,755122.8k $6.1m $6.1m 0.44% New
81 SAGE RHINO CAPITAL LLC 1.09% of their portfolio MENLO PARK, CA 115,748115.7k $5.8m $5.8m 1.09% Added +72.8k +72,803
82 Pine Harbor Wealth Management, LLC 1.71% of their portfolio FAIRFAX, VA 111,777111.8k $5.6m $5.6m 1.71% Added +7.7k +7,722
83 FOUNDERS FINANCIAL SECURITIES LLC 0.32% of their portfolio TOWSON, MD 108,485108.5k $5.4m $5.4m 0.32% Reduced -17.4k -17,450
84 MIdWestOne Financial Group, Inc. 0.59% of their portfolio Iowa City, IA 107,413107.4k $5.4m $5.4m 0.59% New
85 SALEM INVESTMENT COUNSELORS INC 0.14% of their portfolio WINSTON-SALEM, NC 102,239102.2k $5.1m $5.1m 0.14% Added +7.3k +7,333
86 Fischer Financial Services, Inc. 1.34% of their portfolio HARRISBURG, PA 101,900101.9k $5.1m $5.1m 1.34% Added +19.9k +19,935
87 Modera Wealth Management, LLC 0.06% of their portfolio WESTWOOD, NJ 101,386101.4k $5.1m $5.1m 0.06% Reduced -1.1k -1,117
88 ZAZOVE ASSOCIATES LLC 0.43% of their portfolio INCLINE VILLAGE, NV 100,000100.0k $5.0m $5.0m 0.43% Unchanged
89 CWC Advisors, LLC. 2.40% of their portfolio LAKE OSWEGO, OR 99,66199.7k $5.0m $5.0m 2.40% Added +1.9k +1,858
90 VERUS CAPITAL PARTNERS, LLC 0.33% of their portfolio SCOTTSDALE, AZ 98,81698.8k $4.9m $4.9m 0.33% New
91 Paragon Private Wealth Management, LLC 1.50% of their portfolio LEXINGTON, KY 97,86797.9k $4.9m $4.9m 1.50% Added +32.2k +32,186
92 Relyea Zuckerberg Hanson LLC 0.47% of their portfolio STAMFORD, CT 92,90692.9k $4.6m $4.6m 0.47% New
93 ASPIRIANT, LLC 0.13% of their portfolio San Francisco, CA 88,71188.7k $4.4m $4.4m 0.13% Added +1.8k +1,798
94 Beacon Pointe Advisors, LLC 0.03% of their portfolio NEWPORT BEACH, CA 88,69688.7k $4.4m $4.4m 0.03% Reduced -1.8k -1,787
95 Enclave Advisors LLC 0.62% of their portfolio AUSTIN, TX 87,54987.5k $4.4m $4.4m 0.62% Reduced -55.1k -55,123
96 Palisades Hudson Asset Management, L.P. 1.68% of their portfolio FORT LAUDERDALE, FL 86,83086.8k $4.3m $4.3m 1.68% Reduced -33.8k -33,782
97 WEBSTERROGERS FINANCIAL ADVISORS, LLC 1.24% of their portfolio FLORENCE, SC 85,92585.9k $4.3m $4.3m 1.24% Added +2.4k +2,380
98 Kathmere Capital Management, LLC 0.29% of their portfolio WAYNE, PA 85,29985.3k $4.3m $4.3m 0.29% Reduced -5.6k -5,629
99 CAMBIENT FAMILY OFFICE, LLC 0.60% of their portfolio ADA, MI 84,61884.6k $4.2m $4.2m 0.60% First filing
100 Focus Financial Network, Inc. 0.15% of their portfolio MINNEAPOLIS, MN 83,91783.9k $4.2m $4.2m 0.15% Added +1.0k +1,001