Vault-13

VANGUARD SCOTTSDALE FDS VCSH

SHRT TRM CORP BD · ETP · CUSIP 92206C409

1,450 institutional holders +93 vs Q3 2025
311,108,465311.1m shares reported held*
$24.8bnreported value*
89 new 696 added 407 reduced 72 sold out net bought ≈ $529.6m (+6.6m 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 ($27.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $79.81. Options: 1 managers hold calls ($2.2m notional), 0 hold puts (—).

Trends to Q4 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: 1,357Q4 25: 1,4501,450Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 20251,450

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 24: 572 bought or addedQ1 24: 623 cut or sold outQ2 24: 556 bought or addedQ2 24: 605 cut or sold outQ2 24Q3 24: 565 bought or addedQ3 24: 588 cut or sold outQ4 24: 632 bought or addedQ4 24: 523 cut or sold outQ4 24Q1 25: 658 bought or addedQ1 25: 564 cut or sold outQ2 25: 655 bought or addedQ2 25: 577 cut or sold outQ2 25Q3 25: 733 bought or addedQ3 25: 483 cut or sold outQ4 25: 785 bought or addedQ4 25: 479 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024572623
Q2 2024556605
Q3 2024565588
Q4 2024632523
Q1 2025658564
Q2 2025655577
Q3 2025733483
Q4 2025785479

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ1 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 —Q4 25 calls: $2.2mQ4 25 puts: $0Q4 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2025$0$28.3m—
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$2.2m$00.00

Biggest buyers

Corient Private Wealth LP Added +3,432,001+3.4m
BANK OF AMERICA CORP /DE/ Added +2,051,450+2.1m
South Dakota Investment Council New +1,638,348+1.6m
PRUDENTIAL PLC Added +1,063,112+1.1m
NEPC LLC Added +752,893+752.9k
CWM, LLC Added +624,795+624.8k
BARCLAYS PLC Added +615,000+615.0k
Marks Wealth, LLC New +411,182+411.2k
Focus Partners Wealth Added +405,126+405.1k
Rothschild Wealth LLC Added +395,395+395.4k

Biggest sellers

D. E. Shaw & Co., Inc. Sold out -6,241,037-6.2m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -1,757,912-1.8m
JPMORGAN CHASE & CO Reduced -1,375,688-1.4m
RENAISSANCE TECHNOLOGIES LLC Reduced -811,255-811.3k
Total Wealth Planning, LLC Reduced -605,322-605.3k
FLOW TRADERS U.S. LLC Reduced -498,592-498.6k
Employees' Retirement Fund of the City of Fort Worth Reduced -304,664-304.7k
ROYAL BANK OF CANADA Reduced -282,034-282.0k
Penserra Capital Management LLC Sold out -266,141-266.1k
Arax Advisory Partners Reduced -249,079-249.1k

Biggest calls

Capital Investment Advisors, LLC New $2.2m27.6k shares

Biggest puts

None

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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.41% of their portfolio CHARLOTTE, NC 71,249,77871.2m $5.7bn $5.7bn 0.41% Added +2.1m +2,051,450
2 MORGAN STANLEY 0.09% of their portfolio NEW YORK, NY 19,425,95619.4m $1.5bn $1.5bn 0.09% Added +260.0k +260,009
3 PRUDENTIAL PLC 8.61% of their portfolio LONDON, X0 13,488,58013.5m $1.1bn $1.1bn 8.61% Added +1.1m +1,063,112
4 ENVESTNET ASSET MANAGEMENT INC 0.16% of their portfolio Berwyn, PA 6,916,4636.9m $551.4m $551.4m 0.16% Added +186.1k +186,129
5 WELLS FARGO & COMPANY/MN 0.10% of their portfolio SAN FRANCISCO, CA 6,313,6086.3m $503.4m $503.4m 0.10% Reduced -28.0k -27,982
6 NEPC LLC 9.79% of their portfolio Boston, MA 5,763,3045.8m $459.5m $459.5m 9.79% Added +752.9k +752,893
7 UBS Group AG 0.08% of their portfolio ZURICH, V8 5,363,8955.4m $427.7m $427.7m 0.08% Added +67.8k +67,797
8 BARINGS LLC 7.51% of their portfolio CHARLOTTE, NC 5,108,5275.1m $407.3m $407.3m 7.51% Unchanged
9 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 5,085,9425.1m $405.5m $405.5m 0.07% Reduced -282.0k -282,034
10 Corient Private Wealth LP 0.23% of their portfolio MIAMI, FL 4,273,4584.3m $340.6m $340.6m 0.23% Added +3.4m +3,432,001
11 RAYMOND JAMES FINANCIAL INC 0.09% of their portfolio ST. PETERSBURG, FL 3,792,6743.8m $302.4m $302.4m 0.09% Added +150.3k +150,319
12 Sequoia Financial Advisors, LLC 1.54% of their portfolio Akron, OH 3,449,8143.4m $275.1m $275.1m 1.54% Added +137.4k +137,383
13 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 3,412,0353.4m $272.0m $272.0m 0.07% Added +66.5k +66,477
14 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 3,285,5893.3m $262.0m $262.0m 0.04% Added +190.4k +190,432
15 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.21% of their portfolio Toronto, A6 3,217,5583.2m $256.5m $256.5m 0.21% Reduced -1.8m -1,757,912
16 Financial Engines Advisors L.L.C. 0.45% of their portfolio SANTA CLARA, CA 2,972,9143.0m $237.0m $237.0m 0.45% Added +18.1k +18,146
17 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 2,936,1822.9m $234.1m $234.1m 0.04% Added +154.4k +154,430
18 MATHER GROUP, LLC. 2.21% of their portfolio CHICAGO, IL 2,691,3712.7m $214.6m $214.6m 2.21% Added +155.0k +154,954
19 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 2,669,3412.7m $212.8m $212.8m 0.05% Added +204.3k +204,345
20 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 3.47% of their portfolio Seattle, WA 2,429,0962.4m $193.7m $193.7m 3.47% Added +92.5k +92,483
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.11% of their portfolio MILWAUKEE, WI 2,243,5532.2m $178.9m $178.9m 0.11% Added +355.0k +355,023
22 Janney Montgomery Scott LLC 0.38% of their portfolio PHILADELPHIA, PA 2,100,5062.1m $167.5m $167.5m 0.38% Added +50.5k +50,513
23 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 1.10% of their portfolio Madrid, U3 1,979,9512.0m $158.2m $158.2m 1.10% Added +382.0k +381,983
24 Cerity Partners LLC 0.20% of their portfolio NEW YORK, NY 1,742,3931.7m $138.9m $138.9m 0.20% Added +186.1k +186,055
25 TRUIST FINANCIAL CORP 0.18% of their portfolio CHARLOTTE, NC 1,701,6411.7m $135.7m $135.7m 0.18% Added +44.8k +44,826
26 South Dakota Investment Council 2.49% of their portfolio SIOUX FALLS, SD 1,638,3481.6m $130.6m $130.6m 2.49% New
27 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,542,5441.5m $123.0m $123.0m 0.01% Reduced -1.4m -1,375,688
28 WestEnd Advisors, LLC 2.63% of their portfolio CHARLOTTE, NC 1,416,5131.4m $112.9m $112.9m 2.63% Added +26.1k +26,149
29 MAI Capital Management 0.63% of their portfolio INDEPENDENCE, OH 1,362,4241.4m $108.6m $108.6m 0.63% Added +305.1k +305,120
30 Focus Partners Wealth 0.12% of their portfolio ST LOUIS, MO 1,355,7331.4m $108.1m $108.1m 0.12% Added +405.1k +405,126
31 Cetera Investment Advisers 0.11% of their portfolio SCHAUMBURG, IL 1,255,1431.3m $100.1m $100.1m 0.11% Added +70.7k +70,724
32 Creative Planning 0.07% of their portfolio OVERLAND PARK, KS 1,227,3711.2m $97.9m $97.9m 0.07% Added +106.2k +106,226
33 STIFEL FINANCIAL CORP 0.09% of their portfolio ST. LOUIS, MO 1,215,1141.2m $96.9m $96.9m 0.09% Added +215.2k +215,215
34 OAKWORTH CAPITAL, INC. 5.13% of their portfolio BIRMINGHAM, AL 1,177,9361.2m $93.9m $93.9m 5.13% Added +379.2k +379,224
35 Strategic Financial Services, Inc. 4.30% of their portfolio UTICA, NY 1,166,6741.2m $93.2m $93.2m 4.30% Added +110.0k +109,976
36 Steele Capital Management, Inc. 3.98% of their portfolio DUBUQUE, IA 1,163,2151.2m $92.7m $92.7m 3.98% Added +58.0k +58,021
37 KEYBANK NATIONAL ASSOCIATION/OH 0.32% of their portfolio BROOKLYN, OH 1,127,3541.1m $89.9m $89.9m 0.32% Added +37.8k +37,794
38 Farther Finance Advisors, LLC 0.91% of their portfolio SAN FRANCISCO, CA 1,063,3351.1m $84.8m $84.8m 0.91% Added +166.1k +166,083
39 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 1,032,2691.0m $82.3m $82.3m 0.03% Reduced -104.8k -104,758
40 First Financial Bankshares Inc 1.65% of their portfolio Abilene, TX 1,026,0421.0m $81.8m $81.8m 1.65% Added +37.1k +37,073
41 CWM, LLC 0.22% of their portfolio OMAHA, NE 1,007,0331.0m $80.3m $80.3m 0.22% Added +624.8k +624,795
42 Hilton Capital Management, LLC 5.96% of their portfolio Garden City, NY 992,612992.6k $79.1m $79.1m 5.96% Reduced -5.9k -5,946
43 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 980,506980.5k $78.2m $78.2m 0.01% Added +9.3k +9,270
44 Busey Bank 2.03% of their portfolio URBANA, IL 968,022968.0k $77.2m $77.2m 2.03% Added +62.6k +62,648
45 Smithfield Trust Co 3.39% of their portfolio PITTSBURGH, PA 960,454960.5k $76.6m $76.6m 3.39% Reduced -1.8k -1,834
46 Stonebridge Capital Advisors LLC 5.25% of their portfolio ST PAUL, MN 949,785949.8k $75.7m $75.7m 5.25% Added +38.5k +38,524
47 Modera Wealth Management, LLC 0.84% of their portfolio WESTWOOD, NJ 913,153913.2k $72.8m $72.8m 0.84% Reduced -17.5k -17,500
48 Valeo Financial Advisors, LLC 1.50% of their portfolio CARMEL, IN 882,829882.8k $67.3m $67.3m 1.50% Added +21.6k +21,577
49 Kohmann Bosshard Financial Services, LLC 6.29% of their portfolio FAIRLAWN, OH 881,142881.1k $70.3m $70.3m 6.29% Added +65.4k +65,449
50 Rockbridge Investment Management, LCC 6.52% of their portfolio Syracuse, NY 879,717879.7k $70.1m $70.1m 6.52% Added +67.4k +67,374
51 RiverFront Investment Group, LLC 1.14% of their portfolio RICHMOND, VA 870,638870.6k $69.4m $69.4m 1.14% Added +6.1k +6,077
52 Resonant Capital Advisors, LLC 3.78% of their portfolio Madison, WI 863,328863.3k $68.8m $68.8m 3.78% Added +40.5k +40,526
53 EP Wealth Advisors, LLC 0.35% of their portfolio TORRANCE, CA 850,025850.0k $67.8m $67.8m 0.35% First filing
54 Baird Financial Group, Inc. 0.11% of their portfolio MILWAUKEE, WI 849,724849.7k $67.7m $67.7m 0.11% Added +162.0k +161,989
55 OSAIC HOLDINGS, INC. 0.10% of their portfolio SCOTTSDALE, AZ 822,535822.5k $65.6m $65.6m 0.10% Added +37.5k +37,535
56 BlueSky Wealth Advisors, LLC 8.64% of their portfolio New Bern, NC 822,153822.2k $65.6m $65.6m 8.64% Added +52.2k +52,188
57 BEACON INVESTMENT ADVISORY SERVICES, INC. 2.67% of their portfolio MORRISTOWN, NJ 821,288821.3k $65.5m $65.5m 2.67% Added +87.0k +86,999
58 Lutz Financial Services LLC 4.44% of their portfolio OMAHA, NE 819,525819.5k $65.3m $65.3m 4.44% Added +73.8k +73,823
59 DAVENPORT & Co LLC 0.35% of their portfolio RICHMOND, VA 818,555818.6k $65.3m $65.3m 0.35% Added +8.1k +8,107
60 Quantum Financial Planning Services, Inc. 23.35% of their portfolio SPOKANE, WA 808,104808.1k $64.4m $64.4m 23.35% Added +23.9k +23,864
61 Mariner, LLC 0.07% of their portfolio Overland Park, KS 780,501780.5k $62.2m $62.2m 0.07% Added +15.4k +15,426
62 COMMONWEALTH EQUITY SERVICES, LLC 0.08% of their portfolio WALTHAM, MA 775,950776.0k $61.9m $61.9m 0.08% Reduced -67.4k -67,405
63 Rockefeller Capital Management L.P. 0.11% of their portfolio NEW YORK, NY 731,349731.3k $58.3m $58.3m 0.11% Added +177.7k +177,692
64 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.74% of their portfolio CINCINNATI, OH 710,963711.0k $56.7m $56.7m 0.74% Reduced -5.8k -5,776
65 BENJAMIN EDWARDS INC 0.60% of their portfolio Clayton, MO 685,058685.1k $54.6m $54.6m 0.60% Added +37.0k +37,016
66 North Star Investment Management Corp. 3.32% of their portfolio CHICAGO, IL 663,614663.6k $52.9m $52.9m 3.32% Added +54.8k +54,828
67 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 662,912662.9k $52.9m $52.9m 0.03% Added +2.0k +1,968
68 Retirement Systems of Alabama 0.17% of their portfolio MONTGOMERY, AL 661,825661.8k $52.8m $52.8m 0.17% Reduced -12.5k -12,485
69 Capital Investment Services of America, Inc. 4.93% of their portfolio MILWAUKEE, WI 654,689654.7k $52.2m $52.2m 4.93% Added +9.1k +9,057
70 PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio DES MOINES, IA 642,407642.4k $51.2m $51.2m 0.03% Reduced -172.3k -172,297
71 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 633,761633.8k $50.5m $50.5m 0.02% Added +615.0k +615,000
72 TD PRIVATE CLIENT WEALTH LLC 1.08% of their portfolio NEW YORK, NY 633,324633.3k $50.5m $50.5m 1.08% Reduced -31.1k -31,119
73 Liquid Strategies, LLC 10.96% of their portfolio ATLANTA, GA 631,652631.7k $50.4m $50.4m 10.96% Reduced -18.1k -18,125
74 Eaton-Cambridge Inc. 16.18% of their portfolio PHOENIX, AZ 618,534618.5k $49.3m $49.3m 16.18% Added +45.3k +45,306
75 FIRST NATIONAL BANK & TRUST CO OF NEWTOWN 8.97% of their portfolio NEWTOWN, PA 614,077614.1k $49.0m $49.0m 8.97% Reduced -6.9k -6,915
76 HighTower Advisors, LLC 0.05% of their portfolio CHICAGO, IL 608,850608.9k $48.5m $48.5m 0.05% Added +45.2k +45,173
77 EXCHANGE TRADED CONCEPTS, LLC 0.40% of their portfolio Oklahoma City, OK 607,216607.2k $48.4m $48.4m 0.40% Added +93.2k +93,162
78 MERCER GLOBAL ADVISORS INC /ADV 0.07% of their portfolio DENVER, CO 603,041603.0k $48.1m $48.1m 0.07% Reduced -5.1k -5,079
79 Trans-Canada Capital Inc. 2.77% of their portfolio MONTREAL, A8 603,024603.0k $48.1m $48.1m 2.77% Unchanged
80 PROFFITT & GOODSON INC 6.62% of their portfolio KNOXVILLE, TN 593,862593.9k $47.3m $47.3m 6.62% Added +39.5k +39,507
81 STEPHENS INC /AR/ 0.57% of their portfolio LITTLE ROCK, AR 576,507576.5k $46.0m $46.0m 0.57% Reduced -29.3k -29,281
82 BCK Partners, Inc. 23.87% of their portfolio Corning, NY 554,016554.0k $44.2m $44.2m 23.87% Added +18.5k +18,524
83 William Mack & Associates, Inc. 20.44% of their portfolio TROY, MI 544,662544.7k $43.4m $43.4m 20.44% Added +65.4k +65,376
84 John A. Wolfe & Associates, Inc. 23.38% of their portfolio PORTAGE, MI 543,043543.0k $43.3m $43.3m 23.38% First filing
85 AMI INVESTMENT MANAGEMENT INC 9.44% of their portfolio KENDALLVILLE, IN 526,912526.9k $42.0m $42.0m 9.44% Added +40.0k +40,006
86 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 518,534518.5k $41.3m $41.3m 0.03% Reduced -34.6k -34,570
87 Johnson Bixby & Associates, LLC 5.07% of their portfolio VANCOUVER, WA 512,807512.8k $40.9m $40.9m 5.07% Added +73.0k +73,008
88 Zurich Insurance Group Ltd/FI 0.28% of their portfolio ZURICH, V8 512,721512.7k $40.9m $40.9m 0.28% Unchanged
89 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 510,154510.2k $40.7m $40.7m 0.01% Added +17.1k +17,069
90 MML INVESTORS SERVICES, LLC 0.10% of their portfolio SPRINGFIELD, MA 505,068505.1k $40.3m $40.3m 0.10% Added +17.8k +17,771
91 Allen Investment Management, LLC 0.44% of their portfolio NEW YORK, NY 494,036494.0k $39.4m $39.4m 0.44% Added +14.9k +14,897
92 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 493,398493.4k $39.4m $39.4m 0.05% Added +46.8k +46,760
93 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 2.49% of their portfolio KNOXVILLE, TN 492,687492.7k $39.3m $39.3m 2.49% Added +15.3k +15,319
94 FIDELIS iM, LLC 14.91% of their portfolio MEDFORD, OR 481,717481.7k $38.4m $38.4m 14.91% Added +368.4k +368,407
95 Wealthspire Advisors, LLC 0.30% of their portfolio NEW YORK, NY 465,783465.8k $37.1m $37.1m 0.30% Added +40.0k +40,033
96 Aptus Capital Advisors, LLC 0.31% of their portfolio FAIRHOPE, AL 456,427456.4k $36.4m $36.4m 0.31% Added +11.6k +11,556
97 BANK OF NOVA SCOTIA 0.05% of their portfolio TORONTO, A6 453,278453.3k $36.1m $36.1m 0.05% Reduced -226.1k -226,102
98 Efficient Advisors, LLC 2.07% of their portfolio BEAVERTON, OR 444,994445.0k $35.5m $35.5m 2.07% Added +6.0k +6,038
99 Sunburst Financial Group, LLC 7.13% of their portfolio VESTAVIA HILLS, AL 441,743441.7k $35.2m $35.2m 7.13% Added +11.2k +11,153
100 American Money Management, LLC 5.50% of their portfolio Rancho Santa Fe, CA 438,852438.9k $35.0m $35.0m 5.50% Added +17.3k +17,349