Vault-13

VANGUARD SCOTTSDALE FDS VGSH

SHORT TERM TREAS · ETP · CUSIP 92206C102

1,065 institutional holders +16 vs Q4 2025
333,049,331333.0m shares reported held*
$19.5bnreported value*
110 new 486 added 316 reduced 86 sold out net bought ≈ $2.3bn (+39.5m 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 ($82.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $58.48.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 663Q4 22: 736Q1 23: 767Q2 23: 809Q3 23: 814Q4 23: 863Q1 24: 843Q2 24: 853Q3 24: 849Q4 24: 912Q1 25: 938Q2 25: 951Q3 25: 942Q4 25: 1,049Q1 26: 1,0651,065Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022663
Q4 2022736
Q1 2023767
Q2 2023809
Q3 2023814
Q4 2023863
Q1 2024843
Q2 2024853
Q3 2024849
Q4 2024912
Q1 2025938
Q2 2025951
Q3 2025942
Q4 20251,049
Q1 20261,065

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 24: 424 bought or addedQ2 24: 384 cut or sold outQ3 24: 440 bought or addedQ3 24: 361 cut or sold outQ3 24Q4 24: 435 bought or addedQ4 24: 353 cut or sold outQ1 25: 497 bought or addedQ1 25: 365 cut or sold outQ1 25Q2 25: 493 bought or addedQ2 25: 391 cut or sold outQ3 25: 515 bought or addedQ3 25: 371 cut or sold outQ3 25Q4 25: 546 bought or addedQ4 25: 361 cut or sold outQ1 26: 596 bought or addedQ1 26: 402 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024424384
Q3 2024440361
Q4 2024435353
Q1 2025497365
Q2 2025493391
Q3 2025515371
Q4 2025546361
Q1 2026596402

Calls vs puts

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

CallsPuts
$0$250k$500k$750k$1mQ2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $194.2kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $804.6kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$0$0—
Q3 2025$194.2k$00.00
Q4 2025$804.6k$00.00
Q1 2026$0$0—

Biggest buyers

JPMORGAN CHASE & CO Added +7,558,690+7.6m
MORGAN STANLEY Added +4,026,070+4.0m
UBS Group AG Added +3,868,882+3.9m
GOLDMAN SACHS GROUP INC Added +3,318,608+3.3m
Arlington Trust Co LLC Added +3,090,718+3.1m
WELLS FARGO & COMPANY/MN Added +1,929,878+1.9m
CITIGROUP INC Added +1,549,298+1.5m
RWA WEALTH PARTNERS, LLC Added +1,299,307+1.3m
Baird Financial Group, Inc. Added +1,195,456+1.2m
WIT, LLC New +1,189,666+1.2m

Biggest sellers

Orgel Wealth Management, LLC Reduced -2,246,145-2.2m
Corient Private Wealth LP Reduced -2,030,278-2.0m
Penserra Capital Management LLC Sold out -1,912,299-1.9m
M&T Bank Corp Reduced -1,227,661-1.2m
BROWN ADVISORY INC Reduced -1,126,141-1.1m
AE Wealth Management LLC Reduced -713,310-713.3k
New York Life Investment Management LLC Reduced -503,061-503.1k
49 WEALTH MANAGEMENT, LLC Reduced -491,306-491.3k
NORTHERN TRUST CORP Reduced -459,774-459.8k
Stratos Wealth Advisors, LLC Reduced -402,344-402.3k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.21% of their portfolio NEW YORK, NY 51,830,65151.8m $3.0bn $3.0bn 0.21% Added +7.6m +7,558,690
2 MORGAN STANLEY 0.10% of their portfolio NEW YORK, NY 27,795,73127.8m $1.6bn $1.6bn 0.10% Added +4.0m +4,026,070
3 BANK OF AMERICA CORP /DE/ 0.05% of their portfolio CHARLOTTE, NC 11,529,09411.5m $674.9m $674.9m 0.05% Added +1.1m +1,124,185
4 Baird Financial Group, Inc. 0.93% of their portfolio MILWAUKEE, WI 10,154,08810.2m $594.4m $594.4m 0.93% Added +1.2m +1,195,456
5 GOLDMAN SACHS GROUP INC 0.07% of their portfolio NEW YORK, NY 8,786,5408.8m $514.4m $514.4m 0.07% Added +3.3m +3,318,608
6 NORTHERN TRUST CORP 0.06% of their portfolio CHICAGO, IL 7,965,6018.0m $466.3m $466.3m 0.06% Reduced -459.8k -459,774
7 UBS Group AG 0.07% of their portfolio ZURICH, V8 6,384,2456.4m $373.7m $373.7m 0.07% Added +3.9m +3,868,882
8 Orgel Wealth Management, LLC 7.36% of their portfolio ALTOONA, WI 5,832,6725.8m $341.4m $341.4m 7.36% Reduced -2.2m -2,246,145
9 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 5,686,5355.7m $332.9m $332.9m 0.07% Added +1.9m +1,929,878
10 Cerity Partners LLC 0.44% of their portfolio NEW YORK, NY 5,265,9655.3m $308.3m $308.3m 0.44% Added +435.1k +435,051
11 RWA WEALTH PARTNERS, LLC 3.27% of their portfolio BOSTON, MA 5,100,9615.1m $298.6m $298.6m 3.27% Added +1.3m +1,299,307
12 NorthRock Partners, LLC 4.60% of their portfolio MINNEAPOLIS, MN 4,867,6884.9m $285.0m $285.0m 4.60% Added +135.5k +135,541
13 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 4,480,3764.5m $262.3m $262.3m 0.07% Added +979.8k +979,775
14 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 4,400,0004.4m $257.6m $257.6m 0.01% Unchanged
15 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 4,066,8264.1m $238.1m $238.1m 0.06% Added +820.4k +820,447
16 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 3,600,5613.6m $210.8m $210.8m 0.07% Added +178.1k +178,126
17 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 3,192,7703.2m $187.0m $187.0m 0.04% Reduced -233.8k -233,766
18 Arlington Trust Co LLC 15.95% of their portfolio BIRMINGHAM, AL 3,092,4433.1m $181.0m $181.0m 15.95% Added +3.1m +3,090,718
19 PARTNERS CAPITAL INVESTMENT GROUP, LLP 6.43% of their portfolio BOSTON, MA 2,917,1042.9m $170.8m $170.8m 6.43% Added +17.2k +17,175
20 Pure Financial Advisors, LLC 2.34% of their portfolio SAN DIEGO, CA 2,779,8082.8m $162.7m $162.7m 2.34% Added +226.7k +226,705
21 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 2,481,1502.5m $145.2m $145.2m 0.03% Added +227.6k +227,579
22 Corient Private Wealth LP 0.20% of their portfolio MIAMI, FL 2,437,7102.4m $142.7m $142.7m 0.20% Reduced -2.0m -2,030,278
23 CITIGROUP INC 0.09% of their portfolio NEW YORK, NY 2,434,2522.4m $142.5m $142.5m 0.09% Added +1.5m +1,549,298
24 New York Life Investment Management LLC 1.13% of their portfolio New York, NY 2,283,7132.3m $133.7m $133.7m 1.13% Reduced -503.1k -503,061
25 NewEdge Wealth, LLC 1.57% of their portfolio STAMFORD, CT 2,240,6092.2m $131.2m $131.2m 1.57% Added +266.0k +266,043
26 M&T Bank Corp 0.43% of their portfolio BUFFALO, NY 2,162,2152.2m $126.6m $126.6m 0.43% Reduced -1.2m -1,227,661
27 Smithfield Trust Co 5.42% of their portfolio PITTSBURGH, PA 2,126,3682.1m $124.5m $124.5m 5.42% Added +99.4k +99,449
28 TD PRIVATE CLIENT WEALTH LLC 2.51% of their portfolio NEW YORK, NY 2,070,2582.1m $121.2m $121.2m 2.51% Added +277.6k +277,650
29 NEPC LLC 2.32% of their portfolio Boston, MA 1,993,2992.0m $116.7m $116.7m 2.32% Unchanged
30 HighTower Advisors, LLC 0.12% of their portfolio CHICAGO, IL 1,902,7761.9m $111.4m $111.4m 0.12% Reduced -7.9k -7,887
31 MAI Capital Management 0.63% of their portfolio INDEPENDENCE, OH 1,885,4931.9m $110.4m $110.4m 0.63% Added +119.9k +119,920
32 OSAIC HOLDINGS, INC. 0.15% of their portfolio SCOTTSDALE, AZ 1,767,5041.8m $103.5m $103.5m 0.15% Added +301.7k +301,733
33 Blue Trust, Inc. 1.16% of their portfolio BRENTWOOD, TN 1,736,0491.7m $101.6m $101.6m 1.16% Added +235.2k +235,199
34 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 1.56% of their portfolio BOSTON, MA 1,673,9671.7m $98.0m $98.0m 1.56% Added +471.9k +471,874
35 Miller Investment Management, LP 9.73% of their portfolio WEST CONSHOHOCKEN, PA 1,673,9141.7m $98.0m $98.0m 9.73% Added +190.5k +190,524
36 NOMURA ASSET MANAGEMENT CO LTD 0.25% of their portfolio TOKYO, M0 1,644,6771.6m $96.3m $96.3m 0.25% Added +604.4k +604,400
37 TRUSTMARK BANK TRUST DEPARTMENT 5.79% of their portfolio JACKSON, MS 1,537,4581.5m $90.0m $90.0m 5.79% Added +458.8k +458,804
38 Focus Partners Wealth 0.10% of their portfolio ST LOUIS, MO 1,481,7471.5m $86.7m $86.7m 0.10% Added +108.9k +108,901
39 Beacon Pointe Advisors, LLC 0.45% of their portfolio NEWPORT BEACH, CA 1,442,6441.4m $84.5m $84.5m 0.45% Added +137.4k +137,445
40 COLDSTREAM CAPITAL MANAGEMENT INC 0.98% of their portfolio BELLEVUE, WA 1,365,5411.4m $79.9m $79.9m 0.98% Reduced -34.5k -34,490
41 Creative Planning 0.05% of their portfolio OVERLAND PARK, KS 1,363,1911.4m $79.8m $79.8m 0.05% Reduced -106.9k -106,883
42 First Financial Bankshares Inc 1.57% of their portfolio Abilene, TX 1,331,5291.3m $77.9m $77.9m 1.57% Added +29.0k +28,991
43 Evensky & Katz LLC 4.41% of their portfolio CORAL GABLES, FL 1,324,8561.3m $77.6m $77.6m 4.41% Added +58.7k +58,687
44 Valmark Advisers, Inc. 0.88% of their portfolio AKRON, OH 1,260,8981.3m $73.8m $73.8m 0.88% Reduced -87.4k -87,353
45 Oak Harvest Investment Services 7.50% of their portfolio HOUSTON, TX 1,227,2771.2m $71.8m $71.8m 7.50% Added +273.8k +273,755
46 Advisory Alpha, LLC 1.95% of their portfolio HOLLAND, MI 1,216,8711.2m $71.2m $71.2m 1.95% Reduced -84.5k -84,491
47 MAYPORT, LLC 13.12% of their portfolio NEWTON, MA 1,205,2231.2m $70.6m $70.6m 13.12% Added +112.2k +112,191
48 WIT, LLC 1.31% of their portfolio DISTRICT OF COLUMBIA, DC 1,189,6661.2m $69.6m $69.6m 1.31% New
49 Elm Partners Management LLC 2.96% of their portfolio Philadelphia, PA 1,165,9251.2m $68.2m $68.2m 2.96% Reduced -162.8k -162,784
50 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 1.17% of their portfolio Seattle, WA 1,150,1691.2m $67.3m $67.3m 1.17% Added +43.4k +43,422
51 Aptus Capital Advisors, LLC 0.56% of their portfolio FAIRHOPE, AL 1,140,6971.1m $66.8m $66.8m 0.56% Added +1.1m +1,052,413
52 Capital Investment Advisors, LLC 0.97% of their portfolio ATLANTA, GA 1,135,8601.1m $66.5m $66.5m 0.97% Added +1.0m +1,010,426
53 First Command Advisory Services, Inc. 0.43% of their portfolio FORT WORTH, TX 1,096,9471.1m $64.2m $64.2m 0.43% Reduced -29.0k -28,957
54 TRUIST FINANCIAL CORP 0.08% of their portfolio CHARLOTTE, NC 1,067,8881.1m $62.5m $62.5m 0.08% Reduced -40.8k -40,784
55 Chemistry Wealth Management LLC 10.92% of their portfolio NEW YORK, NY 1,061,0401.1m $62.1m $62.1m 10.92% Added +29.3k +29,256
56 Cornerstone Wealth Advisors, Inc. 14.18% of their portfolio EDINA, MN 1,051,8791.1m $61.6m $61.6m 14.18% Added +102.1k +102,059
57 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 1,028,5721.0m $60.2m $60.2m 0.01% Added +927.5k +927,477
58 PRESILIUM PRIVATE WEALTH, LLC 10.42% of their portfolio RADNOR, PA 1,009,4601.0m $59.1m $59.1m 10.42% Added +60.3k +60,308
59 Cetera Investment Advisers 0.06% of their portfolio SCHAUMBURG, IL 1,007,2961.0m $59.0m $59.0m 0.06% Added +74.1k +74,124
60 Retirement Planning Group, LLC 1.78% of their portfolio LEAWOOD, KS 979,118979.1k $57.3m $57.3m 1.78% Reduced -222.8k -222,774
61 Falcon Wealth Planning 3.87% of their portfolio Ontario, CA 969,208969.2k $56.7m $56.7m 3.87% Added +97.7k +97,655
62 CAPITAL ADVISORS INC/OK 0.88% of their portfolio TULSA, OK 935,053935.1k $54.7m $54.7m 0.88% Added +931.5k +931,530
63 Portland Global Advisors LLC 5.41% of their portfolio PORTLAND, ME 866,281866.3k $50.7m $50.7m 5.41% Added +52.3k +52,275
64 Foster Group, Inc. 1.51% of their portfolio WEST DES MOINES, IA 864,813864.8k $50.6m $50.6m 1.51% Added +49.9k +49,914
65 INSIGHT 2811, INC. 21.67% of their portfolio CHICAGO, IL 851,443851.4k $49.8m $49.8m 21.67% Added +27.7k +27,695
66 Strata Wealth Advisors, LLC 13.52% of their portfolio DALLAS, TX 842,394842.4k $49.3m $49.3m 13.52% Reduced -63.0k -62,954
67 Wealth Dimensions Group, Ltd. 9.70% of their portfolio CINCINNATI, OH 842,298842.3k $49.3m $49.3m 9.70% Added +36.3k +36,279
68 PATTEN & PATTEN INC/TN 2.96% of their portfolio CHATTANOOGA, TN 838,252838.3k $49.1m $49.1m 2.96% Added +22.0k +22,035
69 Wellspring Financial Advisors, LLC 3.38% of their portfolio CLEVELAND, OH 769,442769.4k $45.0m $45.0m 3.38% Added +286.9k +286,940
70 Beacon Capital Management, Inc. 2.51% of their portfolio DAYTON, OH 763,790763.8k $44.7m $44.7m 2.51% New
71 Klaas Financial Asset Advisors, LLC 5.99% of their portfolio LOVES PARK, IL 740,507740.5k $43.3m $43.3m 5.99% New
72 VANGUARD ADVISERS INC 0.17% of their portfolio Malvern, PA 732,573732.6k $42.9m $42.9m 0.17% First filing
73 Mariner, LLC 0.05% of their portfolio Overland Park, KS 723,029723.0k $42.3m $42.3m 0.05% Added +44.5k +44,460
74 Federation des caisses Desjardins du Quebec 0.15% of their portfolio LEVIS, A8 717,884717.9k $42.0m $42.0m 0.15% Reduced -13.6k -13,643
75 American Money Management, LLC 6.45% of their portfolio Rancho Santa Fe, CA 696,632696.6k $40.8m $40.8m 6.45% Added +23.6k +23,593
76 1834 INVESTMENT ADVISORS CO 5.04% of their portfolio Milwaukee, WI 690,209690.2k $40.4m $40.4m 5.04% Added +7.7k +7,745
77 ARMSTRONG ADVISORY GROUP, INC 2.60% of their portfolio NEEDHAM, MA 661,171661.2k $38.7m $38.7m 2.60% Added +123.1k +123,072
78 Warwick Investment Management, Inc. 5.52% of their portfolio BRYAN, TX 650,445650.4k $38.1m $38.1m 5.52% Added +247.2k +247,206
79 AMI INVESTMENT MANAGEMENT INC 8.42% of their portfolio KENDALLVILLE, IN 639,260639.3k $37.4m $37.4m 8.42% Added +19.4k +19,449
80 Pacific Sage Partners, LLC 5.88% of their portfolio EDMONDS, WA 637,238637.2k $37.3m $37.3m 5.88% Added +54.9k +54,882
81 OLD NATIONAL BANCORP /IN/ 0.62% of their portfolio EVANSVILLE, IN 630,940630.9k $36.9m $36.9m 0.62% Added +17.6k +17,610
82 Beacon Bank & Trust 7.45% of their portfolio Boston, MA 620,644620.6k $36.3m $36.3m 7.45% Added +12.1k +12,053
83 Johns Hopkins University 2.62% of their portfolio BALTIMORE, MD 616,877616.9k $36.1m $36.1m 2.62% Unchanged
84 Rockefeller Capital Management L.P. 0.06% of their portfolio NEW YORK, NY 608,779608.8k $35.6m $35.6m 0.06% Added +432 +432
85 GOULD ASSET MANAGEMENT LLC /CA/ 6.18% of their portfolio CLAREMONT, CA 608,248608.2k $35.6m $35.6m 6.18% Added +15.2k +15,188
86 Facet Wealth, Inc. 0.61% of their portfolio WEST PALM BEACH, FL 605,958606.0k $35.5m $35.5m 0.61% Added +48.1k +48,067
87 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 601,990602.0k $35.2m $35.2m 0.02% Reduced -20.0k -20,027
88 JOHNSON INVESTMENT COUNSEL INC 0.28% of their portfolio Cincinnati, OH 598,351598.4k $35.0m $35.0m 0.28% New
89 Westerkirk Capital Inc. 3.77% of their portfolio VICTORIA, A1 597,540597.5k $35.0m $35.0m 3.77% Reduced -270.6k -270,610
90 Arista Wealth Management, LLC 4.24% of their portfolio Las Vegas, NV 595,609595.6k $34.9m $34.9m 4.24% Added +15.8k +15,781
91 Strategic Financial Services, Inc. 1.64% of their portfolio UTICA, NY 589,560589.6k $34.5m $34.5m 1.64% Added +56.0k +56,031
92 BROWN ADVISORY INC 0.06% of their portfolio BALTIMORE, MD 588,276588.3k $34.4m $34.4m 0.06% Reduced -1.1m -1,126,141
93 Opus Capital Group, LLC 3.69% of their portfolio CINCINNATI, OH 586,072586.1k $34.3m $34.3m 3.69% Added +8.7k +8,701
94 Haverford Trust Co 0.31% of their portfolio Radnor, PA 582,508582.5k $34.1m $34.1m 0.31% Added +53.1k +53,150
95 Acropolis Investment Management, LLC 1.48% of their portfolio ST. LOUIS, MO 572,906572.9k $33.5m $33.5m 1.48% Reduced -298.0k -298,032
96 Talon Private Wealth, LLC 4.45% of their portfolio THE VILLAGES, FL 572,787572.8k $33.5m $33.5m 4.45% First filing
97 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 568,535568.5k $33.3m $33.3m 0.01% Added +26.9k +26,908
98 Bleakley Financial Group, LLC 0.52% of their portfolio PARSIPPANY, NJ 563,005563.0k $33.0m $33.0m 0.52% Added +39.2k +39,236
99 Cambridge Investment Research Advisors, Inc. 0.08% of their portfolio FAIRFIELD, IA 542,459542.5k $31.8m $31.8m 0.08% Added +207.9k +207,904
100 Concord Wealth Partners 4.11% of their portfolio ABINGDON, VA 541,322541.3k $31.7m $31.7m 4.11% Added +541.2k +541,151