Vault-13

VANGUARD SCOTTSDALE FDS VTWO

VNG RUS2000IDX · ETP · CUSIP 92206C664

609 institutional holders +22 vs Q2 2025
86,512,71786.5m shares reported held*
$8.4bnreported value*
77 new 222 added 179 reduced 46 sold out net sold ≈ $1.0bn (-10.1m 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 ($1.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $97.12. Options: 5 managers hold calls ($12.5m notional), 3 hold puts ($7.2m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 376Q4 22: 415Q1 23: 409Q2 23: 414Q3 23: 409Q4 23: 466Q1 24: 477Q2 24: 500Q3 24: 539Q4 24: 605Q1 25: 587Q2 25: 587Q3 25: 609609Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022376
Q4 2022415
Q1 2023409
Q2 2023414
Q3 2023409
Q4 2023466
Q1 2024477
Q2 2024500
Q3 2024539
Q4 2024605
Q1 2025587
Q2 2025587
Q3 2025609

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 23: 241 bought or addedQ4 23: 146 cut or sold outQ1 24: 249 bought or addedQ1 24: 176 cut or sold outQ1 24Q2 24: 230 bought or addedQ2 24: 179 cut or sold outQ3 24: 296 bought or addedQ3 24: 171 cut or sold outQ3 24Q4 24: 300 bought or addedQ4 24: 188 cut or sold outQ1 25: 296 bought or addedQ1 25: 232 cut or sold outQ1 25Q2 25: 304 bought or addedQ2 25: 230 cut or sold outQ3 25: 299 bought or addedQ3 25: 225 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023241146
Q1 2024249176
Q2 2024230179
Q3 2024296171
Q4 2024300188
Q1 2025296232
Q2 2025304230
Q3 2025299225

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ4 24 calls: $7.4mQ4 24 puts: $6.0mQ4 24P/C 0.80Q1 25 calls: $10.1mQ1 25 puts: $2.3mQ1 25P/C 0.22Q2 25 calls: $30.4mQ2 25 puts: $11.7mQ2 25P/C 0.38Q3 25 calls: $12.5mQ3 25 puts: $7.2mQ3 25P/C 0.58
Numbers
QuarterCallsPutsP/C
Q4 2024$7.4m$6.0m0.80
Q1 2025$10.1m$2.3m0.22
Q2 2025$30.4m$11.7m0.38
Q3 2025$12.5m$7.2m0.58

Biggest buyers

NEOS Investment Management LLC Added +1,168,230+1.2m
JPMORGAN CHASE & CO Added +1,146,553+1.1m
GOLDMAN SACHS GROUP INC Added +777,722+777.7k
PKS Advisory Services, LLC Added +702,010+702.0k
NEUBERGER BERMAN GROUP LLC Added +403,442+403.4k
US BANCORP \DE\ Added +360,768+360.8k
Nuveen, LLC Added +223,760+223.8k
BANK OF AMERICA CORP /DE/ Added +207,948+207.9k
TRUIST FINANCIAL CORP Added +162,405+162.4k
WESBANCO BANK INC Added +123,430+123.4k

Biggest sellers

JONES FINANCIAL COMPANIES LLLP Reduced -7,979,085-8.0m
WELLS FARGO & COMPANY/MN Reduced -5,026,973-5.0m
NATIXIS ADVISORS, LLC Reduced -1,665,908-1.7m
Allianz SE Sold out -313,000-313.0k
ROYAL BANK OF CANADA Reduced -250,869-250.9k
FLOW TRADERS U.S. LLC Sold out -208,460-208.5k
Tower Research Capital LLC (TRC) Reduced -194,197-194.2k
TEXAS PERMANENT SCHOOL FUND CORP Reduced -179,327-179.3k
Rockefeller Capital Management L.P. Reduced -150,550-150.6k
TUDOR INVESTMENT CORP ET AL Sold out -126,221-126.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $7.6m77.7k shares
JANE STREET GROUP, LLC Reduced $2.4m24.4k shares
CITADEL ADVISORS LLC Reduced $1.8m18.7k shares
Pine Valley Investments Ltd Liability Co Unchanged $391.3k4.0k shares
WOLVERINE TRADING, LLC Added $293.0k3.0k shares

Biggest puts

CITADEL ADVISORS LLC Added $3.4m34.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.3m34.2k shares
JANE STREET GROUP, LLC Reduced $498.9k5.1k 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 BANK OF AMERICA CORP /DE/ 0.20% of their portfolio CHARLOTTE, NC 27,317,91227.3m $2.7bn $2.7bn 0.20% Added +207.9k +207,948
2 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 8,618,8748.6m $843.1m $843.1m 0.05% Added +88.7k +88,700
3 NATIXIS ADVISORS, LLC 0.80% of their portfolio Boston, MA 5,579,8715.6m $545.8m $545.8m 0.80% Reduced -1.7m -1,665,908
4 US BANCORP \DE\ 0.57% of their portfolio MINNEAPOLIS, MN 4,901,5874.9m $479.5m $479.5m 0.57% Added +360.8k +360,768
5 NEOS Investment Management LLC 2.57% of their portfolio Westport, CT 3,508,8503.5m $343.2m $343.2m 2.57% Added +1.2m +1,168,230
6 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 3,470,9573.5m $339.5m $339.5m 0.07% Reduced -5.0m -5,026,973
7 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 3,174,0943.2m $310.5m $310.5m 0.01% Added +1.1m +1,146,553
8 Envestnet Portfolio Solutions, Inc. 1.10% of their portfolio BERWYN, PA 3,061,3323.1m $299.5m $299.5m 1.10% Added +46.7k +46,720
9 JONES FINANCIAL COMPANIES LLLP 0.14% of their portfolio DES PERES, MO 2,089,4932.1m $203.9m $203.9m 0.14% Reduced -8.0m -7,979,085
10 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 1,949,4121.9m $190.7m $190.7m 0.03% Added +777.7k +777,722
11 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,598,8321.6m $156.4m $156.4m 0.03% Reduced -93.8k -93,757
12 STIFEL FINANCIAL CORP 0.13% of their portfolio ST. LOUIS, MO 1,453,4371.5m $142.2m $142.2m 0.13% Added +60.7k +60,658
13 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 953,784953.8k $93.3m $93.3m 0.03% Added +94.2k +94,233
14 PKS Advisory Services, LLC 0.58% of their portfolio ALBANY, NY 725,657725.7k $2.5m $2.5m 0.58% Added +702.0k +702,010
15 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 618,492618.5k $60.5m $60.5m 0.02% Added +36.2k +36,204
16 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 580,879580.9k $56.9m $56.9m 0.01% Reduced -8.7k -8,671
17 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 555,608555.6k $54.3m $54.3m 0.02% Added +23.0k +22,977
18 EVOKE WEALTH, LLC 1.00% of their portfolio Los Angeles, CA 489,987490.0k $47.9m $47.9m 1.00% Added +1.6k +1,573
19 Venturi Wealth Management, LLC 2.19% of their portfolio AUSTIN, TX 482,012482.0k $47.2m $47.2m 2.19% Reduced -14.3k -14,277
20 NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio NEW YORK, NY 452,351452.4k $44.2m $44.2m 0.03% Added +403.4k +403,442
21 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 442,894442.9k $43.3m $43.3m 0.06% Added +162.4k +162,405
22 FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.18% of their portfolio Cincinnati, OH 343,541343.5k $33.6m $33.6m 0.18% Reduced -29.4k -29,446
23 AMG National Trust Bank 0.79% of their portfolio GREENWOOD VILLAGE, CO 332,090332.1k $32.5m $32.5m 0.79% Added +24.1k +24,062
24 Lido Advisors, LLC 0.13% of their portfolio Los Angeles, CA 321,954322.0k $31.5m $31.5m 0.13% Added +7.4k +7,437
25 CSM Advisors, LLC 0.84% of their portfolio WARRENDALE, PA 308,876308.9k $30.2m $30.2m 0.84% Reduced -14.3k -14,281
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 304,258304.3k $29.8m $29.8m 0.04% Added +67.0k +66,993
27 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 289,960290.0k $28.4m $28.4m 0.01% Added +223.8k +223,760
28 Janney Montgomery Scott LLC 0.06% of their portfolio PHILADELPHIA, PA 272,845272.8k $26.7m $26.7m 0.06% Reduced -4.6k -4,552
29 AE Wealth Management LLC 0.17% of their portfolio TOPEKA, KS 271,188271.2k $26.5m $26.5m 0.17% Added +82.6k +82,566
30 Waverly Advisors, LLC 0.26% of their portfolio BIRMINGHAM, AL 268,838268.8k $26.3m $26.3m 0.26% Added +5.0k +5,020
31 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 254,883254.9k $24.9m $24.9m 0.00% Reduced -250.9k -250,869
32 S. R. Schill & Associates 15.87% of their portfolio MERCER ISLAND, WA 231,015231.0k $22.6m $22.6m 15.87% Reduced -274 -274
33 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 219,569219.6k $21.5m $21.5m 0.02% Added +71.6k +71,643
34 WESBANCO BANK INC 0.54% of their portfolio WHEELING, WV 196,698196.7k $19.2m $19.2m 0.54% Added +123.4k +123,430
35 Rockefeller Capital Management L.P. 0.04% of their portfolio NEW YORK, NY 184,658184.7k $18.1m $18.1m 0.04% Reduced -150.6k -150,550
36 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 177,859177.9k $17.0m $17.0m 0.02% Reduced -5.1k -5,078
37 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 177,073177.1k $17.3m $17.3m 0.01% Added +4.3k +4,334
38 MOODY NATIONAL BANK TRUST DIVISION 1.45% of their portfolio GALVESTON, TX 175,860175.9k $17.2m $17.2m 1.45% Reduced -914 -914
39 ALERUS FINANCIAL NA 0.85% of their portfolio GRAND FORKS, ND 170,402170.4k $16.7m $16.7m 0.85% Reduced -13.5k -13,467
40 FIRST CITIZENS BANK & TRUST CO 0.35% of their portfolio RALEIGH, NC 165,973166.0k $16.2m $16.2m 0.35% Reduced -24.6k -24,574
41 LBMC INVESTMENT ADVISORS, LLC 0.94% of their portfolio BRENTWOOD, TN 151,127151.1k $14.8m $14.8m 0.94% Reduced -11.2k -11,246
42 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 150,115150.1k $14.7m $14.7m 0.02% Added +11.3k +11,325
43 SVB WEALTH LLC 0.78% of their portfolio BOSTON, MA 147,326147.3k $14.4m $14.4m 0.78% Reduced -3.1k -3,142
44 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 143,707143.7k $14.1m $14.1m 0.01% Reduced -103.4k -103,444
45 CENTRAL VALLEY ADVISORS, LLC 4.14% of their portfolio SACRAMENTO, CA 136,633136.6k $13.4m $13.4m 4.14% Added +271 +271
46 Cadent Capital Advisors, LLC 3.54% of their portfolio TULSA, OK 136,392136.4k $13.3m $13.3m 3.54% Added +38.6k +38,601
47 Cresset Asset Management, LLC 0.06% of their portfolio Chicago, IL 134,164134.2k $13.1m $13.1m 0.06% Added +20.0k +19,975
48 CIBC WORLD MARKET INC. 0.03% of their portfolio TORONTO, A6 132,973133.0k $13.0m $13.0m 0.03% Reduced -1.7k -1,686
49 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 128,633128.6k $12.6m $12.6m 0.03% Added +4.0k +3,973
50 RED CEDAR INVESTMENT MANAGEMENT, LLC 1.42% of their portfolio GRAND RAPIDS, MI 123,734123.7k $12.1m $12.1m 1.42% Added +435 +435
51 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 121,067121.1k $11.8m $11.8m 0.01% Added +976 +976
52 Fusion Capital, LLC 3.46% of their portfolio MT. PLEASANT, SC 119,392119.4k $11.9m $11.9m 3.46% Added +6.8k +6,814
53 PARTNERS CAPITAL INVESTMENT GROUP, LLP 0.44% of their portfolio BOSTON, MA 114,119114.1k $11.2m $11.2m 0.44% Added +309 +309
54 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 107,768107.8k $10.5m $10.5m 0.02% Reduced -1.4k -1,432
55 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 106,911106.9k $10.5m $10.5m 0.01% New
56 Litman Gregory Wealth Management LLC 0.78% of their portfolio LARKSPUR, CA 106,695106.7k $10.4m $10.4m 0.78% Added +872 +872
57 LODESTAR PRIVATE ASSET MANAGEMENT LLC 1.07% of their portfolio ALAMO, CA 105,242105.2k $10.3m $10.3m 1.07% Added +1.4k +1,442
58 Zuckerman Investment Group, LLC 0.91% of their portfolio CHICAGO, IL 100,335100.3k $9.8m $9.8m 0.91% Added +3.7k +3,691
59 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.36% of their portfolio BETHESDA, MD 100,000100.0k $9.8m $9.8m 0.36% Unchanged
60 Pathstone Holdings, LLC 0.04% of their portfolio ENGLEWOOD, NJ 99,87099.9k $9.8m $9.8m 0.04% Reduced -1.3k -1,330
61 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 99,71099.7k $9.8m $9.8m 0.00% Added +29.4k +29,417
62 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 96,36696.4k $9.4m $9.4m 0.01% Added +808 +808
63 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 96,22796.2k $9.4m $9.4m 0.02% Reduced -10.0k -9,974
64 Financial Engines Advisors L.L.C. 0.02% of their portfolio SANTA CLARA, CA 95,94795.9k $9.4m $9.4m 0.02% Reduced -7.8k -7,835
65 Glenmede Investment Management, LP 0.04% of their portfolio PHILADELPHIA, PA 92,44192.4k $9.0m $9.0m 0.04% Added +86.7k +86,655
66 1900 WEALTH MANAGEMENT LLC 0.61% of their portfolio SAN ANTONIO, TX 92,28792.3k $9.0m $9.0m 0.61% Added +7 +7
67 NorthCoast Asset Management LLC 0.03% of their portfolio STAMFORD, CT 91,63691.6k $9.0m $9.0m 0.03% Added +18.2k +18,227
68 LifeWealth Investments, LLC 1.36% of their portfolio WINTER GARDEN, FL 90,88190.9k $8.9m $8.9m 1.36% Added +33.3k +33,311
69 D.A. DAVIDSON & CO. 0.06% of their portfolio GREAT FALLS, MT 90,81290.8k $8.9m $8.9m 0.06% Added +7.2k +7,187
70 COMERICA BANK 0.03% of their portfolio DALLAS, TX 89,00989.0k $8.7m $8.7m 0.03% Reduced -3.6k -3,576
71 MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio DENVER, CO 87,50787.5k $8.6m $8.6m 0.01% Reduced -52.6k -52,592
72 Vise Technologies, Inc. 0.32% of their portfolio NEW YORK, NY 87,12587.1k $8.5m $8.5m 0.32% Reduced -8.0k -8,029
73 First Western Trust Bank 0.38% of their portfolio Denver, CO 85,42085.4k $8.4m $8.4m 0.38% Reduced -5.0k -5,018
74 Heritage Investment Group, Inc. 1.33% of their portfolio POMPANO BEACH, FL 85,11985.1k $8.3m $8.3m 1.33% Reduced -1.6k -1,576
75 BLAIR WILLIAM & CO/IL 0.02% of their portfolio CHICAGO, IL 84,57184.6k $8.3m $8.3m 0.02% Reduced -7.3k -7,286
76 Rockbridge Investment Management, LCC 0.80% of their portfolio Syracuse, NY 83,12283.1k $8.1m $8.1m 0.80% Added +10.0k +10,024
77 PRAIRIEVIEW WEALTH PARTNERS, LLC 7.42% of their portfolio FRANKFORT, IL 80,69880.7k $7.9m $7.9m 7.42% Added +3.2k +3,172
78 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 76,98277.0k $7.5m $7.5m 0.02% Added +4.4k +4,445
79 Mariner, LLC 0.01% of their portfolio Overland Park, KS 74,12274.1k $7.3m $7.3m 0.01% Reduced -2.5k -2,548
80 Mesirow Financial Investment Management, Inc. 0.12% of their portfolio CHICAGO, IL 71,15871.2k $7.0m $7.0m 0.12% Reduced -608 -608
81 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 68,61368.6k $6.7m $6.7m 0.01% Added +2.4k +2,406
82 Farther Finance Advisors, LLC 0.10% of their portfolio SAN FRANCISCO, CA 67,94467.9k $6.6m $6.6m 0.10% Added +20.0k +19,972
83 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 67,78967.8k $6.0m $6.0m 0.02% Added +43.4k +43,358
84 First Citizens Asset Management, Inc. 2.32% of their portfolio RALEIGH, NC 66,96367.0k $6.6m $6.6m 2.32% Reduced -6.0k -5,998
85 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 66,84666.8k $6.5m $6.5m 0.00% Added +14 +14
86 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 64,23764.2k $6.3m $6.3m 0.01% Added +47.0k +46,982
87 FIRST CITIZENS INVESTOR SERVICES, INC. 2.41% of their portfolio RALEIGH, NC 63,68763.7k $6.2m $6.2m 2.41% First filing
88 Focus Partners Advisor Solutions, LLC 0.07% of their portfolio SAINT LOUIS, MO 63,30463.3k $6.2m $6.2m 0.07% Added +25.1k +25,131
89 St. Louis Trust Co 0.77% of their portfolio SAINT LOUIS, MO 62,81362.8k $6.1m $6.1m 0.77% Added +817 +817
90 CHOREO, LLC 0.08% of their portfolio ROCKFORD, IL 62,01462.0k $6.1m $6.1m 0.08% Added +2.6k +2,552
91 Kestra Advisory Services, LLC 0.03% of their portfolio AUSTIN, TX 61,90061.9k $6.1m $6.1m 0.03% Reduced -6.8k -6,850
92 Rathbones Group PLC 0.02% of their portfolio Liverpool, X0 61,58661.6k $6.0m $6.0m 0.02% Reduced -2.5k -2,463
93 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 60,18060.2k $5.9m $5.9m 0.01% Added +57.5k +57,467
94 Prosperity Consulting Group, LLC 0.29% of their portfolio OWINGS MILLS, MD 60,08060.1k $5.9m $5.9m 0.29% Reduced -20.1k -20,150
95 LJI Wealth Management, LLC 1.00% of their portfolio INDIANAPOLIS, IN 58,71658.7k $5.7m $5.7m 1.00% Reduced -5.7k -5,736
96 Windward Private Wealth Management Inc. 1.93% of their portfolio OVERLAND PARK, KS 57,20057.2k $5.6m $5.6m 1.93% Reduced -237 -237
97 Austin Private Wealth, LLC 0.43% of their portfolio Austin, TX 57,13357.1k $5.6m $5.6m 0.43% Reduced -595 -595
98 Brooklyn FI, LLC 1.21% of their portfolio NEW YORK, NY 55,40255.4k $5.4m $5.4m 1.21% Reduced -106 -106
99 LVW Advisors, LLC 0.54% of their portfolio PITTSFORD, NY 53,62653.6k $5.2m $5.2m 0.54% Reduced -2.3k -2,286
100 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 52,65352.7k $5.2m $5.2m 0.00% Reduced -3.2k -3,221