Vault-13

VANGUARD INTL EQUITY INDEX F VGK

FTSE EUROPE ETF · ETP · CUSIP 922042874

799 institutional holders -1 vs Q2 2025
224,231,823224.2m shares reported held*
$17.9bnreported value*
60 new 332 added 211 reduced 47 sold out net bought ≈ $3.1bn (+38.9m 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 ($63.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $79.77. Options: 4 managers hold calls ($6.2m notional), 6 hold puts ($7.6m).

Trends to Q3 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: 800Q3 25: 799799Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025799

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q4 23: 253 bought or addedQ4 23: 269 cut or sold outQ1 24: 278 bought or addedQ1 24: 269 cut or sold outQ1 24Q2 24: 282 bought or addedQ2 24: 252 cut or sold outQ3 24: 248 bought or addedQ3 24: 284 cut or sold outQ3 24Q4 24: 239 bought or addedQ4 24: 280 cut or sold outQ1 25: 405 bought or addedQ1 25: 217 cut or sold outQ1 25Q2 25: 446 bought or addedQ2 25: 249 cut or sold outQ3 25: 392 bought or addedQ3 25: 258 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023253269
Q1 2024278269
Q2 2024282252
Q3 2024248284
Q4 2024239280
Q1 2025405217
Q2 2025446249
Q3 2025392258

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ4 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 2.58Q3 25 calls: $6.2mQ3 25 puts: $7.6mQ3 25P/C 1.22
Numbers
QuarterCallsPutsP/C
Q4 2024$5.3m$11.0m2.09
Q1 2025$8.6m$18.3m2.13
Q2 2025$13.6m$34.9m2.58
Q3 2025$6.2m$7.6m1.22

Biggest buyers

JPMORGAN CHASE & CO Added +41,160,449+41.2m
JANE STREET GROUP, LLC New +1,479,849+1.5m
STATE STREET CORP Added +591,988+592.0k
Qube Research & Technologies Ltd Added +366,284+366.3k
VANGUARD GROUP INC Added +340,902+340.9k
Asset Management One Co., Ltd. Added +308,346+308.3k
Impact Partnership Wealth, LLC Added +223,851+223.9k
Focus Partners Wealth Added +205,002+205.0k
NOMURA ASSET MANAGEMENT CO LTD Added +162,700+162.7k
Creative Planning Added +152,801+152.8k

Biggest sellers

Angeles Investment Advisors, LLC Reduced -1,310,185-1.3m
GOLDMAN SACHS GROUP INC Reduced -1,307,047-1.3m
ROYAL BANK OF CANADA Reduced -1,059,062-1.1m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -1,033,437-1.0m
VICTORY CAPITAL MANAGEMENT INC Reduced -673,311-673.3k
ALLIANCEBERNSTEIN L.P. Reduced -663,159-663.2k
BANK OF NOVA SCOTIA Reduced -387,200-387.2k
BNP PARIBAS FINANCIAL MARKETS Reduced -245,514-245.5k
MORGAN STANLEY Reduced -207,750-207.8k
Mirae Asset Global Investments Co., Ltd. Reduced -187,570-187.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.6m57.7k shares
CITADEL ADVISORS LLC Reduced $606.5k7.6k shares
JANE STREET GROUP, LLC Added $606.5k7.6k shares
WOLVERINE TRADING, LLC Reduced $396.1k5.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.8m59.9k shares
IMC-Chicago, LLC New $925.7k11.6k shares
SIMPLEX TRADING, LLC Added $714.0k8.9k shares
WOLVERINE TRADING, LLC New $649.5k8.2k shares
CITADEL ADVISORS LLC Reduced $279.3k3.5k shares
GROUP ONE TRADING LLC Reduced $239.4k3.0k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.20% of their portfolio NEW YORK, NY 79,833,17479.8m $6.4bn $6.4bn 0.20% Added +41.2m +41,160,449
2 MORGAN STANLEY 0.09% of their portfolio NEW YORK, NY 19,193,74519.2m $1.5bn $1.5bn 0.09% Reduced -207.8k -207,750
3 GOLDMAN SACHS GROUP INC 0.11% of their portfolio NEW YORK, NY 9,648,5689.6m $770.0m $770.0m 0.11% Reduced -1.3m -1,307,047
4 Municipal Employees' Retirement System of Michigan 8.16% of their portfolio LANSING, MI 8,835,4518.8m $705.1m $705.1m 8.16% Unchanged
5 MATHER GROUP, LLC. 6.83% of their portfolio CHICAGO, IL 8,480,8538.5m $676.8m $676.8m 6.83% Added +148.6k +148,559
6 Asset Management One Co., Ltd. 1.45% of their portfolio TOKYO, M0 6,253,8016.3m $499.1m $499.1m 1.45% Added +308.3k +308,346
7 Fisher Asset Management, LLC 0.15% of their portfolio PLANO, TX 5,039,9985.0m $402.2m $402.2m 0.15% Reduced -44.7k -44,724
8 Blue Trust, Inc. 4.04% of their portfolio BRENTWOOD, TN 4,509,7384.5m $359.9m $359.9m 4.04% Reduced -118.9k -118,899
9 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 4,030,1184.0m $321.6m $321.6m 0.00% Added +340.9k +340,902
10 UBS Group AG 0.05% of their portfolio ZURICH, V8 3,505,7883.5m $279.8m $279.8m 0.05% Added +13.8k +13,791
11 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 3,035,6563.0m $242.2m $242.2m 0.02% Reduced -73.6k -73,632
12 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 2,126,6932.1m $169.7m $169.7m 0.03% Added +35.9k +35,872
13 Prime Capital Investment Advisors, LLC 2.12% of their portfolio OVERLAND PARK, KS 2,115,2022.1m $168.8m $168.8m 2.12% Added +28.7k +28,712
14 HighTower Advisors, LLC 0.18% of their portfolio CHICAGO, IL 2,015,9662.0m $160.9m $160.9m 0.18% Added +67.5k +67,511
15 DEUTSCHE BANK AG\ 0.05% of their portfolio FRANKFURT AM MAIN, 2M 2,000,4742.0m $159.6m $159.6m 0.05% Reduced -17.8k -17,778
16 Elm Partners Management LLC 7.58% of their portfolio Philadelphia, PA 1,890,6741.9m $150.9m $150.9m 7.58% Added +53.1k +53,057
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,702,9871.7m $135.9m $135.9m 0.00% Added +90 +90
18 Willis Johnson & Associates, Inc. 8.03% of their portfolio Houston, TX 1,624,5131.6m $129.6m $129.6m 8.03% Added +36.5k +36,473
19 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,592,9641.6m $127.1m $127.1m 0.02% Reduced -1.1m -1,059,062
20 JANE STREET GROUP, LLC 0.14% of their portfolio NEW YORK, NY 1,479,8491.5m $118.1m $118.1m 0.14% New
21 FACTORY MUTUAL INSURANCE CO 1.10% of their portfolio WALTHAM, MA 1,412,5001.4m $112.7m $112.7m 1.10% Unchanged
22 Creative Planning 0.08% of their portfolio OVERLAND PARK, KS 1,308,4481.3m $104.4m $104.4m 0.08% Added +152.8k +152,801
23 LINCOLN NATIONAL CORP 2.96% of their portfolio RADNOR, PA 1,301,2561.3m $103.8m $103.8m 2.96% Added +38.1k +38,124
24 Sumitomo Mitsui DS Asset Management Company, Ltd 0.82% of their portfolio TOKYO, M0 1,267,9651.3m $101.2m $101.2m 0.82% Added +11.6k +11,552
25 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 1,188,0811.2m $94.8m $94.8m 0.03% Reduced -663.2k -663,159
26 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,107,8401.1m $88.4m $88.4m 0.02% Reduced -39.2k -39,236
27 Stairway Partners, LLC 4.66% of their portfolio MINNEAPOLIS, MN 1,098,6231.1m $87.7m $87.7m 4.66% Reduced -1.1k -1,122
28 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,024,4191.0m $81.7m $81.7m 0.00% Added +592.0k +591,988
29 Garde Capital, Inc. 3.86% of their portfolio SEATTLE, WA 962,408962.4k $76.8m $76.8m 3.86% Added +28.3k +28,348
30 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 943,428943.4k $75.3m $75.3m 0.02% Added +75.8k +75,753
31 COMERICA BANK 0.28% of their portfolio DALLAS, TX 939,117939.1k $74.9m $74.9m 0.28% Added +26.4k +26,435
32 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 883,499883.5k $70.5m $70.5m 0.02% Added +61.6k +61,643
33 BANK OF NOVA SCOTIA 0.12% of their portfolio TORONTO, A6 851,500851.5k $67.9m $67.9m 0.12% Reduced -387.2k -387,200
34 Itau Unibanco Holding S.A. 2.31% of their portfolio SAO PAULO, D5 850,566850.6k $67.9m $67.9m 2.31% Added +3.9k +3,872
35 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 847,057847.1k $67.6m $67.6m 0.06% Added +31.5k +31,517
36 GenTrust, LLC 2.96% of their portfolio MIAMI, FL 816,444816.4k $65.2m $65.2m 2.96% Reduced -28.2k -28,216
37 Smithfield Trust Co 2.81% of their portfolio PITTSBURGH, PA 787,959788.0k $62.9m $62.9m 2.81% Reduced -16.5k -16,455
38 Impact Partnership Wealth, LLC 8.86% of their portfolio MARIETTA, GA 746,587746.6k $59.6m $59.6m 8.86% Added +223.9k +223,851
39 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 741,301741.3k $59.2m $59.2m 0.04% Reduced -37.5k -37,460
40 ANGELES WEALTH MANAGEMENT, LLC 3.42% of their portfolio SANTA MONICA, CA 698,721698.7k $55.8m $55.8m 3.42% Added +41.0k +40,975
41 Chan Zuckerberg Initiative, LLC 56.65% of their portfolio Redwood City, CA 664,838664.8k $53.1m $53.1m 56.65% Unchanged
42 Cerity Partners LLC 0.08% of their portfolio NEW YORK, NY 651,511651.5k $52.0m $52.0m 0.08% Reduced -6.9k -6,948
43 JANUS HENDERSON GROUP PLC 0.02% of their portfolio LONDON, X0 647,921647.9k $51.7m $51.7m 0.02% Reduced -43.7k -43,659
44 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 633,314633.3k $50.5m $50.5m 0.03% Added +9.9k +9,935
45 Haverford Trust Co 0.44% of their portfolio Radnor, PA 617,525617.5k $49.3m $49.3m 0.44% Reduced -27.1k -27,122
46 PRESILIUM PRIVATE WEALTH, LLC 8.88% of their portfolio RADNOR, PA 586,272586.3k $46.8m $46.8m 8.88% Added +25.2k +25,223
47 Efficient Advisors, LLC 2.61% of their portfolio BEAVERTON, OR 580,918580.9k $46.4m $46.4m 2.61% Added +33.4k +33,435
48 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 543,668543.7k $43.4m $43.4m 0.03% Reduced -673.3k -673,311
49 PEAPACK GLADSTONE FINANCIAL CORP 0.54% of their portfolio BEDMINSTER, NJ 523,864523.9k $41.8m $41.8m 0.54% Reduced -3.1k -3,142
50 Penserra Capital Management LLC 0.49% of their portfolio ORINDA, CA 514,109514.1k $41.0m $41.0m 0.49% Added +64.5k +64,520
51 Ballentine Partners, LLC 0.57% of their portfolio Waltham, MA 511,255511.3k $40.8m $40.8m 0.57% Reduced -20.3k -20,270
52 OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC 2.03% of their portfolio SAN FRANCISCO, CA 500,058500.1k $39.9m $39.9m 2.03% Added +2.9k +2,893
53 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 483,968484.0k $38.6m $38.6m 0.05% Reduced -13.2k -13,153
54 Mirae Asset Global Investments Co., Ltd. 0.11% of their portfolio SEOUL, M5 432,781432.8k $34.5m $34.5m 0.11% Reduced -187.6k -187,570
55 Accredited Investors Inc. 1.91% of their portfolio EDINA, MN 428,900428.9k $34.2m $34.2m 1.91% Added +71.1k +71,139
56 Robertson Stephens Wealth Management, LLC 1.02% of their portfolio San Francisco, CA 424,618424.6k $33.9m $33.9m 1.02% Added +87.1k +87,090
57 BESSEMER GROUP INC 0.05% of their portfolio WOODBRIDGE, NJ 422,303422.3k $33.7m $33.7m 0.05% Added +25.3k +25,263
58 Abich Financial Wealth Management LLC 11.85% of their portfolio ASHBURN, VA 416,995417.0k $33.3m $33.3m 11.85% First filing
59 Banco Santander, S.A. 0.29% of their portfolio Madrid, U3 409,819409.8k $32.7m $32.7m 0.29% Reduced -59.8k -59,829
60 Tanager Wealth Management LLP 3.18% of their portfolio Goring On Thames, X0 379,390379.4k $30.3m $30.3m 3.18% Added +10.6k +10,613
61 Allspring Global Investments Holdings, LLC 0.05% of their portfolio CHARLOTTE, NC 379,198379.2k $30.3m $30.3m 0.05% Added +49.6k +49,600
62 Qube Research & Technologies Ltd 0.04% of their portfolio LONDON, X0 367,107367.1k $29.3m $29.3m 0.04% Added +366.3k +366,284
63 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.22% of their portfolio Madrid, U3 355,796355.8k $28.4m $28.4m 0.22% Added +73.9k +73,931
64 Galilei Investment Office LLP 13.15% of their portfolio LONDON, X0 347,831347.8k $27.4m $27.4m 13.15% Reduced -1.7k -1,697
65 Janney Montgomery Scott LLC 0.06% of their portfolio PHILADELPHIA, PA 330,341330.3k $26.4m $26.4m 0.06% Added +7.7k +7,745
66 LIFE LINE WEALTH MANAGEMENT LLC 8.00% of their portfolio Beverly Hills, CA 328,737328.7k $26.2m $26.2m 8.00% Reduced -6.4k -6,369
67 Wealthspire Advisors, LLC 0.13% of their portfolio NEW YORK, NY 310,818310.8k $24.8m $24.8m 0.13% Added +24.6k +24,628
68 BTG Pactual Asset Management US LLC 2.78% of their portfolio NEW YORK, NY 304,732304.7k $23.6m $23.6m 2.78% Added +14.1k +14,070
69 Equitable Holdings, Inc. 0.18% of their portfolio NEW YORK, NY 303,105303.1k $24.2m $24.2m 0.18% Reduced -775 -775
70 Focus Partners Wealth 0.04% of their portfolio ST LOUIS, MO 292,465292.5k $23.3m $23.3m 0.04% Added +205.0k +205,002
71 Karpus Management, Inc. 0.69% of their portfolio Pittsford, NY 272,924272.9k $21.8m $21.8m 0.69% Reduced -158 -158
72 ARMSTRONG ADVISORY GROUP, INC 1.54% of their portfolio NEEDHAM, MA 272,846272.8k $21.8m $21.8m 1.54% Added +8.7k +8,664
73 COOPER/HAIMS ADVISORS, LLC 10.17% of their portfolio VICTOR, NY 272,818272.8k $21.8m $21.8m 10.17% Reduced -5.7k -5,722
74 SG Americas Securities, LLC 0.08% of their portfolio NEW YORK, NY 270,199270.2k $21.6m $21.6m 0.08% Added +94.6k +94,584
75 Madison Asset Management, LLC 0.24% of their portfolio MADISON, WI 269,918269.9k $21.5m $21.5m 0.24% Unchanged
76 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 257,000257.0k $20.5m $20.5m 0.01% Reduced -31.2k -31,181
77 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 256,700256.7k $20.5m $20.5m 0.01% Added +37.3k +37,300
78 COURIER CAPITAL LLC 1.14% of their portfolio BUFFALO, NY 248,601248.6k $19.8m $19.8m 1.14% Added +18.9k +18,931
79 NorthCoast Asset Management LLC 0.08% of their portfolio STAMFORD, CT 247,752247.8k $19.8m $19.8m 0.08% Added +8.3k +8,290
80 FPC INVESTMENT ADVISORY, INC. 11.83% of their portfolio PETALUMA, CA 247,008247.0k $19.7m $19.7m 11.83% Added +2.7k +2,663
81 Allianz Asset Management GmbH 0.02% of their portfolio MUNICH, 2M 245,800245.8k $19.6m $19.6m 0.02% Reduced -15.6k -15,600
82 Obsido Oy 12.93% of their portfolio TAMPERE, H9 243,399243.4k $19.4m $19.4m 12.93% Added +19.2k +19,234
83 SCOTIA CAPITAL INC. 0.08% of their portfolio TORONTO, A6 239,264239.3k $19.1m $19.1m 0.08% Added +12.7k +12,689
84 AlTi Global, Inc. 0.45% of their portfolio NEW YORK, NY 238,238238.2k $19.0m $19.0m 0.45% Added +144.1k +144,143
85 AGF MANAGEMENT LTD 0.08% of their portfolio TORONTO, A6 238,144238.1k $19.0m $19.0m 0.08% Added +841 +841
86 HENGEHOLD CAPITAL MANAGEMENT LLC 1.61% of their portfolio CINCINNATI, OH 236,257236.3k $18.9m $18.9m 1.61% Added +5.5k +5,481
87 ANDERSON HOAGLAND & CO 1.68% of their portfolio ST LOUIS, MO 234,213234.2k $18.7m $18.7m 1.68% Added +22.9k +22,905
88 BFI Infinity Ltd. 11.65% of their portfolio ZURICH, V8 219,493219.5k $17.5m $17.5m 11.65% Added +21.9k +21,885
89 Hilton Capital Management, LLC 1.36% of their portfolio Garden City, NY 210,586210.6k $16.8m $16.8m 1.36% Reduced -88.9k -88,938
90 Zeit Capital LLC 11.06% of their portfolio GREENWOOD VILLAGE, CO 203,970204.0k $16.3m $16.3m 11.06% Reduced -2.3k -2,306
91 Stelac Advisory Services LLC 5.57% of their portfolio NEW YORK, NY 201,851201.9k $16.1m $16.1m 5.57% Added +4.2k +4,167
92 Journey Advisory Group, LLC 1.19% of their portfolio COVINGTON, KY 201,201201.2k $16.1m $16.1m 1.19% Added +1.8k +1,750
93 Mariner, LLC 0.02% of their portfolio Overland Park, KS 200,142200.1k $16.0m $16.0m 0.02% Added +22.0k +21,998
94 Rafferty Asset Management, LLC 0.05% of their portfolio New York, NY 199,147199.1k $15.9m $15.9m 0.05% Reduced -104.0k -103,978
95 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 197,262197.3k $15.6m $15.6m 0.02% Added +83.1k +83,132
96 BigSur Wealth Management LLC 3.77% of their portfolio MIAMI, FL 193,010193.0k $15.4m $15.4m 3.77% Reduced -600 -600
97 Greenline Partners, LLC 1.86% of their portfolio NEW YORK, NY 191,979192.0k $15.3m $15.3m 1.86% Added +2.0k +1,968
98 Vident Advisory, LLC 0.15% of their portfolio Alpharetta, GA 190,584190.6k $15.2m $15.2m 0.15% Added +1.9k +1,883
99 NISA INVESTMENT ADVISORS, LLC 0.06% of their portfolio ST. LOUIS, MO 190,000190.0k $15.2m $15.2m 0.06% Unchanged
100 Baird Financial Group, Inc. 0.02% of their portfolio MILWAUKEE, WI 185,340185.3k $14.8m $14.8m 0.02% Added +11.7k +11,682