Vault-13

VANGUARD SCOTTSDALE FDS VCSH

SHRT TRM CORP BD · ETP · CUSIP 92206C409

1,357 institutional holders -6 vs Q2 2025
302,763,422302.8m shares reported held*
$24.2bnreported value*
73 new 660 added 411 reduced 72 sold out net bought ≈ $114.5m (+1.4m 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 ($16.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $80.06.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,243Q4 22: 1,288Q1 23: 1,252Q2 23: 1,239Q3 23: 1,229Q4 23: 1,299Q1 24: 1,259Q2 24: 1,255Q3 24: 1,258Q4 24: 1,337Q1 25: 1,336Q2 25: 1,363Q3 25: 1,3571,357Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 20221,243
Q4 20221,288
Q1 20231,252
Q2 20231,239
Q3 20231,229
Q4 20231,299
Q1 20241,259
Q2 20241,255
Q3 20241,258
Q4 20241,337
Q1 20251,336
Q2 20251,363
Q3 20251,357

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 23: 470 bought or addedQ4 23: 671 cut or sold outQ1 24: 572 bought or addedQ1 24: 623 cut or sold outQ1 24Q2 24: 556 bought or addedQ2 24: 605 cut or sold outQ3 24: 565 bought or addedQ3 24: 588 cut or sold outQ3 24Q4 24: 632 bought or addedQ4 24: 523 cut or sold outQ1 25: 658 bought or addedQ1 25: 564 cut or sold outQ1 25Q2 25: 655 bought or addedQ2 25: 577 cut or sold outQ3 25: 733 bought or addedQ3 25: 483 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023470671
Q1 2024572623
Q2 2024556605
Q3 2024565588
Q4 2024632523
Q1 2025658564
Q2 2025655577
Q3 2025733483

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $28.3mQ1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$0$28.3m—
Q2 2025$0$0—
Q3 2025$0$0—

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +5,170,864+5.2m
D. E. Shaw & Co., Inc. Added +2,225,337+2.2m
MORGAN STANLEY Added +1,908,040+1.9m
Farther Finance Advisors, LLC Added +745,386+745.4k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +564,514+564.5k
WELLS FARGO & COMPANY/MN Added +497,955+498.0k
FLOW TRADERS U.S. LLC Added +403,556+403.6k
Employees' Retirement Fund of the City of Fort Worth Added +328,664+328.7k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +288,171+288.2k
GOLDMAN SACHS GROUP INC Added +262,855+262.9k

Biggest sellers

ROYAL BANK OF CANADA Reduced -5,900,314-5.9m
III Capital Management Sold out -2,160,000-2.2m
Japan Science & Technology Agency Sold out -2,070,000-2.1m
Corient Private Wealth LP Reduced -1,279,888-1.3m
Trans-Canada Capital Inc. Reduced -1,189,470-1.2m
ENVESTNET ASSET MANAGEMENT INC Reduced -994,390-994.4k
American Family Investments, Inc. Sold out -845,187-845.2k
MERCER GLOBAL ADVISORS INC /ADV Reduced -792,076-792.1k
iA Global Asset Management Inc. Reduced -601,330-601.3k
JANE STREET GROUP, LLC Reduced -517,221-517.2k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.41% of their portfolio CHARLOTTE, NC 69,198,32869.2m $5.5bn $5.5bn 0.41% Added +5.2m +5,170,864
2 MORGAN STANLEY 0.09% of their portfolio NEW YORK, NY 19,165,94719.2m $1.5bn $1.5bn 0.09% Added +1.9m +1,908,040
3 PRUDENTIAL PLC 7.30% of their portfolio LONDON, X0 12,425,46812.4m $993.2m $993.2m 7.30% Reduced -250.9k -250,925
4 ENVESTNET ASSET MANAGEMENT INC 0.15% of their portfolio Berwyn, PA 6,730,3346.7m $538.0m $538.0m 0.15% Reduced -994.4k -994,390
5 WELLS FARGO & COMPANY/MN 0.10% of their portfolio SAN FRANCISCO, CA 6,341,5906.3m $506.9m $506.9m 0.10% Added +498.0k +497,955
6 D. E. Shaw & Co., Inc. 0.40% of their portfolio New York, NY 6,241,0376.2m $498.8m $498.8m 0.40% Added +2.2m +2,225,337
7 ROYAL BANK OF CANADA 0.08% of their portfolio TORONTO, A6 5,367,9765.4m $429.1m $429.1m 0.08% Reduced -5.9m -5,900,314
8 UBS Group AG 0.08% of their portfolio ZURICH, V8 5,296,0985.3m $423.3m $423.3m 0.08% Added +24.7k +24,693
9 BARINGS LLC 7.77% of their portfolio CHARLOTTE, NC 5,108,5275.1m $408.3m $408.3m 7.77% Unchanged
10 NEPC LLC 10.54% of their portfolio Boston, MA 5,010,4115.0m $400.5m $400.5m 10.54% Reduced -38.6k -38,639
11 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.33% of their portfolio Toronto, A6 4,975,4705.0m $397.7m $397.7m 0.33% Added +564.5k +564,514
12 RAYMOND JAMES FINANCIAL INC 0.09% of their portfolio ST. PETERSBURG, FL 3,642,3553.6m $291.1m $291.1m 0.09% Added +240.2k +240,201
13 LPL Financial LLC 0.08% of their portfolio FORT MILL, SC 3,345,5583.3m $267.4m $267.4m 0.08% Added +46.8k +46,750
14 Sequoia Financial Advisors, LLC 1.61% of their portfolio Akron, OH 3,312,4313.3m $264.8m $264.8m 1.61% Added +158.4k +158,367
15 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 3,095,1573.1m $247.4m $247.4m 0.04% Added +262.9k +262,855
16 Financial Engines Advisors L.L.C. 0.45% of their portfolio SANTA CLARA, CA 2,954,7683.0m $236.2m $236.2m 0.45% Added +94.8k +94,816
17 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,918,2322.9m $233.3m $233.3m 0.01% Reduced -56.7k -56,739
18 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 2,781,7522.8m $222.3m $222.3m 0.04% Added +177.7k +177,665
19 MATHER GROUP, LLC. 2.05% of their portfolio CHICAGO, IL 2,536,4172.5m $202.7m $202.7m 2.05% Added +169.3k +169,308
20 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 2,464,9962.5m $196.8m $196.8m 0.05% Added +237.3k +237,290
21 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 3.76% of their portfolio Seattle, WA 2,336,6132.3m $186.8m $186.8m 3.76% Added +80.2k +80,235
22 Janney Montgomery Scott LLC 0.39% of their portfolio PHILADELPHIA, PA 2,049,9932.0m $163.9m $163.9m 0.39% Added +197.6k +197,619
23 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.10% of their portfolio MILWAUKEE, WI 1,888,5301.9m $151.0m $151.0m 0.10% Added +288.2k +288,171
24 TRUIST FINANCIAL CORP 0.18% of their portfolio CHARLOTTE, NC 1,656,8151.7m $132.4m $132.4m 0.18% Added +120.8k +120,756
25 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.98% of their portfolio Madrid, U3 1,597,9681.6m $127.6m $127.6m 0.98% Added +221.0k +221,024
26 Cerity Partners LLC 0.20% of their portfolio NEW YORK, NY 1,556,3381.6m $124.4m $124.4m 0.20% Added +113.4k +113,435
27 WestEnd Advisors, LLC 2.60% of their portfolio CHARLOTTE, NC 1,390,3641.4m $111.1m $111.1m 2.60% Added +155.3k +155,344
28 Cetera Investment Advisers 0.11% of their portfolio SCHAUMBURG, IL 1,184,4191.2m $94.7m $94.7m 0.11% Added +206.0k +206,004
29 RW Investment Management LLC 9.71% of their portfolio Eagle, ID 1,177,9991.2m $94.2m $94.2m 9.71% Added +81.5k +81,513
30 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 1,137,0271.1m $90.9m $90.9m 0.04% Reduced -23.0k -23,017
31 Creative Planning 0.07% of their portfolio OVERLAND PARK, KS 1,121,1451.1m $89.6m $89.6m 0.07% Added +190.1k +190,053
32 Steele Capital Management, Inc. 3.92% of their portfolio DUBUQUE, IA 1,105,1941.1m $88.3m $88.3m 3.92% Reduced -58.2k -58,151
33 KEYBANK NATIONAL ASSOCIATION/OH 0.31% of their portfolio BROOKLYN, OH 1,089,5601.1m $87.1m $87.1m 0.31% Added +14.0k +13,961
34 MAI Capital Management 0.53% of their portfolio INDEPENDENCE, OH 1,057,3041.1m $84.5m $84.5m 0.53% Added +65.9k +65,922
35 Strategic Financial Services, Inc. 4.24% of their portfolio UTICA, NY 1,056,6981.1m $84.5m $84.5m 4.24% Added +18.8k +18,774
36 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 999,899999.9k $79.9m $79.9m 0.07% Added +133.3k +133,279
37 Hilton Capital Management, LLC 6.46% of their portfolio Garden City, NY 998,558998.6k $79.8m $79.8m 6.46% Added +43.6k +43,647
38 First Financial Bankshares Inc 1.62% of their portfolio Abilene, TX 988,969989.0k $79.0m $79.0m 1.62% Reduced -9.7k -9,667
39 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 971,236971.2k $77.6m $77.6m 0.01% Reduced -34.0k -33,977
40 Smithfield Trust Co 3.44% of their portfolio PITTSBURGH, PA 962,288962.3k $76.9m $76.9m 3.44% Added +12.9k +12,868
41 Focus Partners Wealth 0.12% of their portfolio ST LOUIS, MO 950,607950.6k $76.0m $76.0m 0.12% Added +123.7k +123,748
42 Modera Wealth Management, LLC 0.86% of their portfolio WESTWOOD, NJ 930,653930.7k $74.4m $74.4m 0.86% Reduced -18.4k -18,402
43 Stonebridge Capital Advisors LLC 5.20% of their portfolio ST PAUL, MN 911,261911.3k $72.8m $72.8m 5.20% Added +72.0k +72,030
44 Busey Bank 2.02% of their portfolio URBANA, IL 905,374905.4k $72.4m $72.4m 2.02% Added +69.3k +69,303
45 RENAISSANCE TECHNOLOGIES LLC 0.09% of their portfolio NEW YORK, NY 898,400898.4k $71.8m $71.8m 0.09% Added +105.1k +105,100
46 Farther Finance Advisors, LLC 1.08% of their portfolio SAN FRANCISCO, CA 897,252897.3k $71.7m $71.7m 1.08% Added +745.4k +745,386
47 RiverFront Investment Group, LLC 1.21% of their portfolio RICHMOND, VA 864,561864.6k $69.1m $69.1m 1.21% Added +9.6k +9,634
48 Valeo Financial Advisors, LLC 1.57% of their portfolio CARMEL, IN 861,252861.3k $68.8m $68.8m 1.57% Added +8.5k +8,498
49 COMMONWEALTH EQUITY SERVICES, LLC 0.09% of their portfolio WALTHAM, MA 843,355843.4k $67.4m $67.4m 0.09% Added +57.1k +57,147
50 Corient Private Wealth LP 0.11% of their portfolio MIAMI, FL 841,457841.5k $67.3m $67.3m 0.11% Reduced -1.3m -1,279,888
51 Resonant Capital Advisors, LLC 3.83% of their portfolio Madison, WI 822,802822.8k $65.8m $65.8m 3.83% Added +199.7k +199,708
52 Kohmann Bosshard Financial Services, LLC 6.69% of their portfolio FAIRLAWN, OH 815,693815.7k $65.3m $65.3m 6.69% Added +27.2k +27,191
53 PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio DES MOINES, IA 814,704814.7k $65.1m $65.1m 0.03% Added +2.1k +2,124
54 Rockbridge Investment Management, LCC 6.41% of their portfolio Syracuse, NY 812,343812.3k $64.9m $64.9m 6.41% Added +55.7k +55,676
55 DAVENPORT & Co LLC 0.35% of their portfolio RICHMOND, VA 810,448810.4k $64.8m $64.8m 0.35% Added +34.1k +34,080
56 OAKWORTH CAPITAL, INC. 3.69% of their portfolio BIRMINGHAM, AL 798,712798.7k $63.8m $63.8m 3.69% Added +32.6k +32,573
57 OSAIC HOLDINGS, INC. 0.09% of their portfolio SCOTTSDALE, AZ 785,000785.0k $62.7m $62.7m 0.09% Added +153.2k +153,230
58 Quantum Financial Planning Services, Inc. 25.35% of their portfolio SPOKANE, WA 784,240784.2k $62.7m $62.7m 25.35% Added +50.0k +50,027
59 BlueSky Wealth Advisors, LLC 8.30% of their portfolio New Bern, NC 769,965770.0k $61.5m $61.5m 8.30% Added +27.7k +27,672
60 Mariner, LLC 0.08% of their portfolio Overland Park, KS 765,075765.1k $61.2m $61.2m 0.08% Added +44.6k +44,581
61 Lutz Financial Services LLC 4.31% of their portfolio OMAHA, NE 745,702745.7k $59.6m $59.6m 4.31% Added +56.4k +56,433
62 BEACON INVESTMENT ADVISORY SERVICES, INC. 2.47% of their portfolio MORRISTOWN, NJ 734,289734.3k $58.7m $58.7m 2.47% Added +6.2k +6,154
63 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.76% of their portfolio CINCINNATI, OH 716,739716.7k $57.3m $57.3m 0.76% Added +8.4k +8,449
64 Baird Financial Group, Inc. 0.09% of their portfolio MILWAUKEE, WI 687,735687.7k $55.0m $55.0m 0.09% Added +47.3k +47,337
65 BANK OF NOVA SCOTIA 0.10% of their portfolio TORONTO, A6 679,380679.4k $54.3m $54.3m 0.10% Added +236.4k +236,391
66 Retirement Systems of Alabama 0.18% of their portfolio MONTGOMERY, AL 674,310674.3k $53.9m $53.9m 0.18% Reduced -46.5k -46,525
67 TD PRIVATE CLIENT WEALTH LLC 1.20% of their portfolio NEW YORK, NY 664,443664.4k $53.1m $53.1m 1.20% Added +38.7k +38,694
68 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 660,944660.9k $52.8m $52.8m 0.03% Added +61.4k +61,426
69 Liquid Strategies, LLC 10.70% of their portfolio ATLANTA, GA 649,777649.8k $51.9m $51.9m 10.70% Added +29.2k +29,156
70 BENJAMIN EDWARDS INC 0.59% of their portfolio Clayton, MO 648,042648.0k $51.8m $51.8m 0.59% Added +39.0k +38,971
71 Total Wealth Planning, LLC 5.98% of their portfolio CINCINNATI, OH 646,376646.4k $51.7m $51.7m 5.98% Added +33.2k +33,182
72 Capital Investment Services of America, Inc. 4.58% of their portfolio MILWAUKEE, WI 645,632645.6k $51.6m $51.6m 4.58% Added +66.7k +66,688
73 FIRST NATIONAL BANK & TRUST CO OF NEWTOWN 9.41% of their portfolio NEWTOWN, PA 620,992621.0k $49.6m $49.6m 9.41% Added +938 +938
74 North Star Investment Management Corp. 3.13% of their portfolio CHICAGO, IL 608,786608.8k $48.7m $48.7m 3.13% Added +47.8k +47,784
75 MERCER GLOBAL ADVISORS INC /ADV 0.08% of their portfolio DENVER, CO 608,120608.1k $48.6m $48.6m 0.08% Reduced -792.1k -792,076
76 STEPHENS INC /AR/ 0.62% of their portfolio LITTLE ROCK, AR 605,788605.8k $48.4m $48.4m 0.62% Reduced -11.4k -11,375
77 Trans-Canada Capital Inc. 2.93% of their portfolio MONTREAL, A8 603,024603.0k $48.2m $48.2m 2.93% Reduced -1.2m -1,189,470
78 Eaton-Cambridge Inc. 15.94% of their portfolio PHOENIX, AZ 573,228573.2k $45.8m $45.8m 15.94% Added +30.1k +30,080
79 HighTower Advisors, LLC 0.05% of their portfolio CHICAGO, IL 563,677563.7k $45.1m $45.1m 0.05% Added +16.6k +16,570
80 PROFFITT & GOODSON INC 6.36% of their portfolio KNOXVILLE, TN 554,355554.4k $44.3m $44.3m 6.36% Added +22.3k +22,349
81 Rockefeller Capital Management L.P. 0.09% of their portfolio NEW YORK, NY 553,657553.7k $44.3m $44.3m 0.09% Reduced -486.4k -486,351
82 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 553,104553.1k $44.2m $44.2m 0.03% Reduced -328.8k -328,810
83 BCK Partners, Inc. 23.05% of their portfolio Corning, NY 535,492535.5k $42.8m $42.8m 23.05% Added +20.7k +20,748
84 Employees' Retirement Fund of the City of Fort Worth 10.42% of their portfolio FORT WORTH, TX 530,928530.9k $42.4m $42.4m 10.42% Added +328.7k +328,664
85 EXCHANGE TRADED CONCEPTS, LLC 0.39% of their portfolio Oklahoma City, OK 514,054514.1k $41.1m $41.1m 0.39% Added +189.9k +189,910
86 Zurich Insurance Group Ltd/FI 0.29% of their portfolio ZURICH, V8 512,721512.7k $41.0m $41.0m 0.29% Unchanged
87 FLOW TRADERS U.S. LLC 1.65% of their portfolio NEW YORK, NY 507,648507.6k $40.6m $40.6m 1.65% Added +403.6k +403,556
88 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 493,085493.1k $39.4m $39.4m 0.01% Added +11.9k +11,927
89 MML INVESTORS SERVICES, LLC 0.10% of their portfolio SPRINGFIELD, MA 487,297487.3k $38.9m $38.9m 0.10% Added +58.2k +58,231
90 AMI INVESTMENT MANAGEMENT INC 9.03% of their portfolio KENDALLVILLE, IN 486,906486.9k $38.9m $38.9m 9.03% Added +42.5k +42,498
91 William Mack & Associates, Inc. 20.60% of their portfolio TROY, MI 479,286479.3k $38.3m $38.3m 20.60% Added +45.6k +45,560
92 Allen Investment Management, LLC 0.43% of their portfolio NEW YORK, NY 479,139479.1k $38.3m $38.3m 0.43% Unchanged
93 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 2.49% of their portfolio KNOXVILLE, TN 477,368477.4k $38.2m $38.2m 2.49% Added +19.5k +19,479
94 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 446,638446.6k $35.6m $35.6m 0.05% Added +16.8k +16,794
95 Aptus Capital Advisors, LLC 0.32% of their portfolio FAIRHOPE, AL 444,871444.9k $35.6m $35.6m 0.32% Added +13.8k +13,780
96 Johnson Bixby & Associates, LLC 4.51% of their portfolio VANCOUVER, WA 439,799439.8k $35.2m $35.2m 4.51% Added +36.0k +36,043
97 Efficient Advisors, LLC 1.98% of their portfolio BEAVERTON, OR 438,956439.0k $35.1m $35.1m 1.98% Added +35.5k +35,457
98 Sunburst Financial Group, LLC 7.25% of their portfolio VESTAVIA HILLS, AL 430,590430.6k $34.4m $34.4m 7.25% Added +15.4k +15,360
99 Wealthspire Advisors, LLC 0.18% of their portfolio NEW YORK, NY 425,750425.8k $34.0m $34.0m 0.18% Added +13.1k +13,131
100 American Money Management, LLC 5.62% of their portfolio Rancho Santa Fe, CA 421,503421.5k $33.7m $33.7m 5.62% Added +11.6k +11,562