Vault-13

VANGUARD INTL EQUITY INDEX F VGK

FTSE EUROPE ETF · ETP · CUSIP 922042874

800 institutional holders +83 vs Q1 2025
187,414,819187.4m shares reported held*
$14.5bnreported value*
130 new 316 added 197 reduced 52 sold out net bought ≈ $1.2bn (+16.1m 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 ($60.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $77.46. Options: 6 managers hold calls ($13.6m notional), 7 hold puts ($34.9m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 534Q4 22: 572Q1 23: 585Q2 23: 597Q3 23: 574Q4 23: 627Q1 24: 634Q2 24: 636Q3 24: 640Q4 24: 637Q1 25: 717Q2 25: 800800Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022534
Q4 2022572
Q1 2023585
Q2 2023597
Q3 2023574
Q4 2023627
Q1 2024634
Q2 2024636
Q3 2024640
Q4 2024637
Q1 2025717
Q2 2025800

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q3 23: 219 bought or addedQ3 23: 278 cut or sold outQ4 23: 253 bought or addedQ4 23: 269 cut or sold outQ4 23Q1 24: 278 bought or addedQ1 24: 269 cut or sold outQ2 24: 282 bought or addedQ2 24: 252 cut or sold outQ2 24Q3 24: 248 bought or addedQ3 24: 284 cut or sold outQ4 24: 239 bought or addedQ4 24: 280 cut or sold outQ4 24Q1 25: 405 bought or addedQ1 25: 217 cut or sold outQ2 25: 446 bought or addedQ2 25: 249 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023219278
Q4 2023253269
Q1 2024278269
Q2 2024282252
Q3 2024248284
Q4 2024239280
Q1 2025405217
Q2 2025446249

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ3 24 calls: $10.2mQ3 24 puts: $17.5mQ3 24P/C 1.72Q4 24 calls: $5.3mQ4 24 puts: $11.0mQ4 24P/C 2.09Q1 25 calls: $8.6mQ1 25 puts: $18.3mQ1 25P/C 2.13Q2 25 calls: $13.6mQ2 25 puts: $34.9mQ2 25P/C 2.58
Numbers
QuarterCallsPutsP/C
Q3 2024$10.2m$17.5m1.72
Q4 2024$5.3m$11.0m2.09
Q1 2025$8.6m$18.3m2.13
Q2 2025$13.6m$34.9m2.58

Biggest buyers

MATHER GROUP, LLC. Added +5,947,219+5.9m
JPMORGAN CHASE & CO Added +3,167,220+3.2m
Municipal Employees' Retirement System of Michigan Added +2,400,165+2.4m
ROYAL BANK OF CANADA Added +2,031,658+2.0m
MORGAN STANLEY Added +1,371,361+1.4m
BANK OF AMERICA CORP /DE/ Added +939,927+939.9k
ALLIANCEBERNSTEIN L.P. Added +741,459+741.5k
RAYMOND JAMES FINANCIAL INC Added +527,738+527.7k
VANGUARD GROUP INC Added +465,518+465.5k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +444,102+444.1k

Biggest sellers

STATE STREET CORP Reduced -1,996,603-2.0m
Angeles Investment Advisors, LLC Reduced -1,384,485-1.4m
BARCLAYS PLC Reduced -473,500-473.5k
Blue Trust, Inc. Reduced -428,152-428.2k
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -395,257-395.3k
JANE STREET GROUP, LLC Sold out -320,001-320.0k
LIFE LINE WEALTH MANAGEMENT LLC Reduced -317,939-317.9k
CITADEL ADVISORS LLC Reduced -308,866-308.9k
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Reduced -279,092-279.1k
Hamilton Wealth, LLC Reduced -238,913-238.9k

Biggest calls

Walleye Trading LLC Added $6.3m80.7k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.9m63.4k shares
CITADEL ADVISORS LLC Reduced $1.2m16.1k shares
WOLVERINE TRADING, LLC New $440.7k5.7k shares
Cubist Systematic Strategies, LLC New $418.5k5.4k shares
JANE STREET GROUP, LLC New $286.8k3.7k shares

Biggest puts

SCOPUS ASSET MANAGEMENT, L.P. New $19.1m246.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $12.2m157.0k shares
Walleye Trading LLC Added $1.3m17.4k shares
CITADEL ADVISORS LLC Reduced $1.1m14.8k shares
GROUP ONE TRADING LLC Reduced $713.0k9.2k shares
SIMPLEX TRADING, LLC Reduced $468.0k6.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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 0.21% of their portfolio NEW YORK, NY 38,672,72538.7m $3.0bn $3.0bn 0.21% Added +3.2m +3,167,220
2 MORGAN STANLEY 0.10% of their portfolio NEW YORK, NY 19,401,49519.4m $1.5bn $1.5bn 0.10% Added +1.4m +1,371,361
3 GOLDMAN SACHS GROUP INC 0.14% of their portfolio NEW YORK, NY 10,955,61511.0m $849.1m $849.1m 0.14% Reduced -217.2k -217,245
4 Municipal Employees' Retirement System of Michigan 8.24% of their portfolio LANSING, MI 8,835,4518.8m $684.7m $684.7m 8.24% Added +2.4m +2,400,165
5 MATHER GROUP, LLC. 6.90% of their portfolio CHICAGO, IL 8,332,2948.3m $645.8m $645.8m 6.90% Added +5.9m +5,947,219
6 Asset Management One Co., Ltd. 1.44% of their portfolio TOKYO, M0 5,945,4555.9m $460.8m $460.8m 1.44% Reduced -93.3k -93,303
7 Fisher Asset Management, LLC 0.16% of their portfolio PLANO, TX 5,084,7225.1m $394.1m $394.1m 0.16% Added +186.0k +185,995
8 Blue Trust, Inc. 4.23% of their portfolio BRENTWOOD, TN 4,628,6374.6m $358.7m $358.7m 4.23% Reduced -428.2k -428,152
9 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 3,689,2163.7m $285.9m $285.9m 0.00% Added +465.5k +465,518
10 UBS Group AG 0.06% of their portfolio ZURICH, V8 3,491,9973.5m $270.6m $270.6m 0.06% Added +187.2k +187,249
11 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 3,109,2883.1m $241.0m $241.0m 0.02% Added +939.9k +939,927
12 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 2,652,0262.7m $205.5m $205.5m 0.02% Added +2.0m +2,031,658
13 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 2,090,8212.1m $162.0m $162.0m 0.04% Added +348.5k +348,492
14 Prime Capital Investment Advisors, LLC 2.13% of their portfolio OVERLAND PARK, KS 2,086,4902.1m $160.4m $160.4m 2.13% Reduced -104.8k -104,760
15 DEUTSCHE BANK AG\ 0.06% of their portfolio FRANKFURT AM MAIN, 2M 2,018,2522.0m $156.4m $156.4m 0.06% Reduced -109.3k -109,311
16 HighTower Advisors, LLC 0.19% of their portfolio CHICAGO, IL 1,948,4551.9m $151.0m $151.0m 0.19% Reduced -116.1k -116,117
17 ALLIANCEBERNSTEIN L.P. 0.05% of their portfolio NASHVILLE, TN 1,851,2401.9m $143.5m $143.5m 0.05% Added +741.5k +741,459
18 Elm Partners Management LLC 8.27% of their portfolio Philadelphia, PA 1,837,6171.8m $142.4m $142.4m 8.27% Reduced -100.3k -100,271
19 Money Design Co.,Ltd. 6.18% of their portfolio TOKYO, M0 1,708,0251.7m $132.4m $132.4m 6.18% Added +77.2k +77,214
20 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,702,8971.7m $132.0m $132.0m 0.00% Unchanged
21 Willis Johnson & Associates, Inc. 8.37% of their portfolio Houston, TX 1,588,0401.6m $123.1m $123.1m 8.37% Added +45.5k +45,528
22 FACTORY MUTUAL INSURANCE CO 1.20% of their portfolio WALTHAM, MA 1,412,5001.4m $109.5m $109.5m 1.20% Unchanged
23 Angeles Investment Advisors, LLC 5.92% of their portfolio SANTA MONICA, CA 1,350,0151.4m $104.6m $104.6m 5.92% Reduced -1.4m -1,384,485
24 LINCOLN NATIONAL CORP 2.97% of their portfolio RADNOR, PA 1,263,1321.3m $97.9m $97.9m 2.97% Reduced -33.9k -33,891
25 Sumitomo Mitsui DS Asset Management Company, Ltd 0.88% of their portfolio TOKYO, M0 1,256,4131.3m $97.4m $97.4m 0.88% Reduced -2 -2
26 BANK OF NOVA SCOTIA 0.20% of their portfolio TORONTO, A6 1,238,7001.2m $96.0m $96.0m 0.20% Added +370.3k +370,300
27 VICTORY CAPITAL MANAGEMENT INC 0.06% of their portfolio San Antonio, TX 1,216,9791.2m $94.3m $94.3m 0.06% Reduced -219.9k -219,945
28 Creative Planning 0.08% of their portfolio OVERLAND PARK, KS 1,155,6471.2m $89.6m $89.6m 0.08% Added +45.0k +44,996
29 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.08% of their portfolio Toronto, A6 1,153,8521.2m $89.4m $89.4m 0.08% Added +444.1k +444,102
30 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,147,0761.1m $88.9m $88.9m 0.02% Added +30.7k +30,725
31 Stairway Partners, LLC 4.83% of their portfolio MINNEAPOLIS, MN 1,099,7451.1m $85.2m $85.2m 4.83% Reduced -5.0k -5,018
32 Garde Capital, Inc. 3.87% of their portfolio SEATTLE, WA 934,060934.1k $72.4m $72.4m 3.87% Reduced -67.4k -67,387
33 COMERICA BANK 0.27% of their portfolio DALLAS, TX 912,682912.7k $70.7m $70.7m 0.27% Reduced -579 -579
34 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 867,675867.7k $67.2m $67.2m 0.02% Added +527.7k +527,738
35 Itau Unibanco Holding S.A. 2.49% of their portfolio SAO PAULO, D5 846,694846.7k $65.6m $65.6m 2.49% Added +6.1k +6,077
36 GenTrust, LLC 3.09% of their portfolio MIAMI, FL 844,660844.7k $65.5m $65.5m 3.09% Reduced -125.2k -125,206
37 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 821,856821.9k $63.7m $63.7m 0.02% Added +270.7k +270,661
38 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 815,540815.5k $63.2m $63.2m 0.06% Added +73.7k +73,666
39 Smithfield Trust Co 2.95% of their portfolio PITTSBURGH, PA 804,414804.4k $62.3m $62.3m 2.95% Reduced -35.1k -35,094
40 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 778,761778.8k $60.4m $60.4m 0.04% Reduced -72.0k -72,008
41 JANUS HENDERSON GROUP PLC 0.03% of their portfolio LONDON, X0 691,580691.6k $53.6m $53.6m 0.03% Reduced -122.9k -122,888
42 Chan Zuckerberg Initiative, LLC 66.33% of their portfolio Redwood City, CA 664,838664.8k $51.5m $51.5m 66.33% Unchanged
43 Cerity Partners LLC 0.09% of their portfolio NEW YORK, NY 658,459658.5k $51.0m $51.0m 0.09% Reduced -454 -454
44 ANGELES WEALTH MANAGEMENT, LLC 3.50% of their portfolio SANTA MONICA, CA 657,746657.7k $51.0m $51.0m 3.50% Added +213.3k +213,337
45 Haverford Trust Co 0.47% of their portfolio Radnor, PA 644,647644.6k $50.0m $50.0m 0.47% Reduced -14.0k -14,032
46 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 623,379623.4k $48.3m $48.3m 0.03% Added +45.2k +45,217
47 Mirae Asset Global Investments Co., Ltd. 0.17% of their portfolio SEOUL, M5 620,351620.4k $48.1m $48.1m 0.17% Reduced -45.1k -45,069
48 PRESILIUM PRIVATE WEALTH, LLC 8.90% of their portfolio RADNOR, PA 561,049561.0k $43.5m $43.5m 8.90% Added +20.2k +20,237
49 Efficient Advisors, LLC 2.53% of their portfolio BEAVERTON, OR 547,483547.5k $42.4m $42.4m 2.53% Reduced -41.6k -41,629
50 Ballentine Partners, LLC 0.62% of their portfolio Waltham, MA 531,525531.5k $41.2m $41.2m 0.62% Reduced -14.0k -14,035
51 PEAPACK GLADSTONE FINANCIAL CORP 0.58% of their portfolio BEDMINSTER, NJ 527,006527.0k $40.8m $40.8m 0.58% Reduced -1.8k -1,771
52 Impact Partnership Wealth, LLC 7.47% of their portfolio MARIETTA, GA 522,736522.7k $40.5m $40.5m 7.47% Added +137.4k +137,393
53 OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC 2.05% of their portfolio SAN FRANCISCO, CA 497,165497.2k $38.5m $38.5m 2.05% Added +5.4k +5,423
54 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 497,121497.1k $38.5m $38.5m 0.05% Added +14.1k +14,091
55 Banco Santander, S.A. 0.35% of their portfolio Madrid, U3 469,648469.6k $36.4m $36.4m 0.35% Added +391.4k +391,380
56 Penserra Capital Management LLC 0.49% of their portfolio ORINDA, CA 449,589449.6k $34.8m $34.8m 0.49% Added +218.6k +218,638
57 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 432,431432.4k $33.5m $33.5m 0.00% Reduced -2.0m -1,996,603
58 ATLAS CAPITAL ADVISORS INC. 3.99% of their portfolio JACKSON, WY 421,972422.0k $32.7m $32.7m 3.99% Added +52.2k +52,177
59 BESSEMER GROUP INC 0.05% of their portfolio WOODBRIDGE, NJ 397,040397.0k $30.8m $30.8m 0.05% Added +89.6k +89,554
60 Tanager Wealth Management LLP 3.37% of their portfolio Goring On Thames, X0 368,777368.8k $28.6m $28.6m 3.37% Added +5.3k +5,273
61 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 365,421365.4k $28.3m $28.3m 0.02% Added +123.5k +123,461
62 Accredited Investors Inc. 1.64% of their portfolio EDINA, MN 357,761357.8k $27.7m $27.7m 1.64% New
63 Galilei Investment Office LLP 13.56% of their portfolio LONDON, X0 349,528349.5k $26.7m $26.7m 13.56% Reduced -5.1k -5,087
64 Robertson Stephens Wealth Management, LLC 0.91% of their portfolio San Francisco, CA 337,528337.5k $26.2m $26.2m 0.91% Added +112.2k +112,209
65 LIFE LINE WEALTH MANAGEMENT LLC 8.41% of their portfolio Beverly Hills, CA 335,106335.1k $26.0m $26.0m 8.41% Reduced -317.9k -317,939
66 Allspring Global Investments Holdings, LLC 0.04% of their portfolio CHARLOTTE, NC 329,598329.6k $25.5m $25.5m 0.04% Added +205.0k +205,000
67 Janney Montgomery Scott LLC 0.07% of their portfolio PHILADELPHIA, PA 322,596322.6k $25.0m $25.0m 0.07% Added +33.9k +33,858
68 Equitable Holdings, Inc. 0.19% of their portfolio NEW YORK, NY 303,880303.9k $23.6m $23.6m 0.19% Added +4.0k +3,984
69 Rafferty Asset Management, LLC 0.08% of their portfolio New York, NY 303,125303.1k $23.5m $23.5m 0.08% Reduced -61.7k -61,730
70 Hilton Capital Management, LLC 1.85% of their portfolio Garden City, NY 299,524299.5k $23.2m $23.2m 1.85% Added +144.0k +143,953
71 BTG Pactual Asset Management US LLC 3.03% of their portfolio NEW YORK, NY 290,662290.7k $22.5m $22.5m 3.03% Added +237 +237
72 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 288,181288.2k $22.3m $22.3m 0.01% Added +85.8k +85,768
73 Wealthspire Advisors, LLC 0.12% of their portfolio NEW YORK, NY 286,190286.2k $22.2m $22.2m 0.12% Added +228.6k +228,560
74 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.20% of their portfolio Madrid, U3 281,865281.9k $21.8m $21.8m 0.20% Reduced -279.1k -279,092
75 COOPER/HAIMS ADVISORS, LLC 10.63% of their portfolio VICTOR, NY 278,540278.5k $21.6m $21.6m 10.63% Added +711 +711
76 Karpus Management, Inc. 0.68% of their portfolio Pittsford, NY 273,082273.1k $21.2m $21.2m 0.68% Added +1.9k +1,851
77 Madison Asset Management, LLC 0.23% of their portfolio MADISON, WI 269,918269.9k $20.9m $20.9m 0.23% Added +52.6k +52,595
78 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 269,874269.9k $21.5m $21.5m 0.03% Added +136.3k +136,320
79 ARMSTRONG ADVISORY GROUP, INC 1.55% of their portfolio NEEDHAM, MA 264,182264.2k $20.5m $20.5m 1.55% New
80 Allianz Asset Management GmbH 0.03% of their portfolio MUNICH, 2M 261,400261.4k $20.3m $20.3m 0.03% Reduced -27.7k -27,700
81 FPC INVESTMENT ADVISORY, INC. 11.81% of their portfolio PETALUMA, CA 244,345244.3k $18.9m $18.9m 11.81% Added +5.9k +5,885
82 NorthCoast Asset Management LLC 0.08% of their portfolio STAMFORD, CT 239,462239.5k $18.6m $18.6m 0.08% Added +225.6k +225,612
83 AGF MANAGEMENT LTD 0.08% of their portfolio TORONTO, A6 237,303237.3k $18.4m $18.4m 0.08% Added +7.7k +7,686
84 HENGEHOLD CAPITAL MANAGEMENT LLC 1.63% of their portfolio CINCINNATI, OH 230,776230.8k $17.9m $17.9m 1.63% New
85 COURIER CAPITAL LLC 1.08% of their portfolio BUFFALO, NY 229,670229.7k $17.8m $17.8m 1.08% Added +6.7k +6,721
86 SCOTIA CAPITAL INC. 0.08% of their portfolio TORONTO, A6 226,575226.6k $17.6m $17.6m 0.08% Added +26.9k +26,947
87 Obsido Oy 13.18% of their portfolio TAMPERE, H9 224,165224.2k $17.4m $17.4m 13.18% Added +585 +585
88 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 219,400219.4k $17.0m $17.0m 0.01% Reduced -13.4k -13,371
89 ANDERSON HOAGLAND & CO 1.56% of their portfolio ST LOUIS, MO 211,308211.3k $16.4m $16.4m 1.56% Added +462 +462
90 Zeit Capital LLC 11.43% of their portfolio GREENWOOD VILLAGE, CO 206,276206.3k $16.0m $16.0m 11.43% Reduced -1.7k -1,677
91 Journey Advisory Group, LLC 1.20% of their portfolio COVINGTON, KY 199,451199.5k $15.5m $15.5m 1.20% Reduced -2.5k -2,537
92 Stelac Advisory Services LLC 5.82% of their portfolio NEW YORK, NY 197,684197.7k $15.3m $15.3m 5.82% Added +1.2k +1,211
93 BFI Infinity Ltd. 12.81% of their portfolio ZURICH, V8 197,608197.6k $15.3m $15.3m 12.81% Added +26.7k +26,728
94 BigSur Wealth Management LLC 3.79% of their portfolio MIAMI, FL 193,610193.6k $15.0m $15.0m 3.79% Added +6.0k +6,000
95 CHURCHILL MANAGEMENT Corp 0.16% of their portfolio Los Angeles, CA 192,387192.4k $14.9m $14.9m 0.16% Reduced -2.8k -2,836
96 Greenline Partners, LLC 1.98% of their portfolio NEW YORK, NY 190,011190.0k $14.7m $14.7m 1.98% Added +2.5k +2,483
97 NISA INVESTMENT ADVISORS, LLC 0.07% of their portfolio ST. LOUIS, MO 190,000190.0k $14.7m $14.7m 0.07% Reduced -30.2k -30,200
98 Vident Advisory, LLC 0.16% of their portfolio Alpharetta, GA 188,701188.7k $14.6m $14.6m 0.16% Added +6.3k +6,312
99 Integris Wealth Management, LLC 3.81% of their portfolio Monterey, CA 188,564188.6k $14.6m $14.6m 3.81% Reduced -1.5k -1,454
100 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 181,872181.9k $14.1m $14.1m 0.02% Reduced -78.3k -78,298