Vault-13

VANGUARD SCOTTSDALE FDS VTWO

VNG RUS2000IDX · ETP · CUSIP 92206C664

662 institutional holders +53 vs Q3 2025
93,809,77093.8m shares reported held*
$9.3bnreported value*
69 new 258 added 154 reduced 45 sold out net bought ≈ $806.0m (+7.4m 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 ($56.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $99.57. Options: 4 managers hold calls ($15.7m notional), 2 hold puts ($1.5m).

Trends to Q4 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: 609Q4 25: 662662Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025662

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 24: 249 bought or addedQ1 24: 176 cut or sold outQ2 24: 230 bought or addedQ2 24: 179 cut or sold outQ2 24Q3 24: 296 bought or addedQ3 24: 171 cut or sold outQ4 24: 300 bought or addedQ4 24: 188 cut or sold outQ4 24Q1 25: 296 bought or addedQ1 25: 232 cut or sold outQ2 25: 304 bought or addedQ2 25: 230 cut or sold outQ2 25Q3 25: 299 bought or addedQ3 25: 225 cut or sold outQ4 25: 327 bought or addedQ4 25: 199 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024249176
Q2 2024230179
Q3 2024296171
Q4 2024300188
Q1 2025296232
Q2 2025304230
Q3 2025299225
Q4 2025327199

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ1 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 0.58Q4 25 calls: $15.7mQ4 25 puts: $1.5mQ4 25P/C 0.09
Numbers
QuarterCallsPutsP/C
Q1 2025$10.1m$2.3m0.22
Q2 2025$30.4m$11.7m0.38
Q3 2025$12.5m$7.2m0.58
Q4 2025$15.7m$1.5m0.09

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +2,204,005+2.2m
GOLDMAN SACHS GROUP INC Added +1,413,762+1.4m
EXCHANGE TRADED CONCEPTS, LLC New +1,216,124+1.2m
NEOS Investment Management LLC Added +1,006,903+1.0m
HighTower Advisors, LLC Added +584,990+585.0k
Henshaw Capital LLC Added +566,400+566.4k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +516,485+516.5k
BNP PARIBAS FINANCIAL MARKETS Added +503,965+504.0k
NEUBERGER BERMAN GROUP LLC Added +385,879+385.9k
US BANCORP \DE\ Added +358,891+358.9k

Biggest sellers

JPMORGAN CHASE & CO Reduced -1,351,067-1.4m
JONES FINANCIAL COMPANIES LLLP Reduced -1,112,664-1.1m
PKS Advisory Services, LLC Reduced -699,432-699.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -299,274-299.3k
RHUMBLINE ADVISERS Reduced -97,879-97.9k
NorthCoast Asset Management LLC Sold out -91,636-91.6k
Nuveen, LLC Reduced -74,280-74.3k
FIRST CITIZENS INVESTOR SERVICES, INC. Reduced -63,687-63.7k
UBS Group AG Reduced -63,147-63.1k
Focus Partners Advisor Solutions, LLC Reduced -60,807-60.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $12.9m129.2k shares
CITADEL ADVISORS LLC Added $2.1m21.4k shares
Pine Valley Investments Ltd Liability Co Unchanged $398.1k4.0k shares
JANE STREET GROUP, LLC Reduced $348.3k3.5k shares

Biggest puts

CITADEL ADVISORS LLC Reduced $915.6k9.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $537.4k5.4k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.21% of their portfolio CHARLOTTE, NC 29,521,91729.5m $2.9bn $2.9bn 0.21% Added +2.2m +2,204,005
2 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 8,811,1958.8m $876.9m $876.9m 0.05% Added +192.3k +192,321
3 NATIXIS ADVISORS, LLC 0.83% of their portfolio Boston, MA 5,860,9505.9m $583.3m $583.3m 0.83% Added +281.1k +281,079
4 US BANCORP \DE\ 0.61% of their portfolio MINNEAPOLIS, MN 5,260,4785.3m $523.5m $523.5m 0.61% Added +358.9k +358,891
5 NEOS Investment Management LLC 2.60% of their portfolio Westport, CT 4,515,7534.5m $449.4m $449.4m 2.60% Added +1.0m +1,006,903
6 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 3,525,1853.5m $350.8m $350.8m 0.07% Added +54.2k +54,228
7 GOLDMAN SACHS GROUP INC 0.05% of their portfolio NEW YORK, NY 3,363,1743.4m $334.7m $334.7m 0.05% Added +1.4m +1,413,762
8 Envestnet Portfolio Solutions, Inc. 1.09% of their portfolio BERWYN, PA 3,109,8253.1m $309.5m $309.5m 1.09% Added +48.5k +48,493
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,823,0271.8m $181.4m $181.4m 0.01% Reduced -1.4m -1,351,067
10 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,535,6851.5m $152.8m $152.8m 0.03% Reduced -63.1k -63,147
11 STIFEL FINANCIAL CORP 0.13% of their portfolio ST. LOUIS, MO 1,448,8001.4m $144.2m $144.2m 0.13% Reduced -4.6k -4,637
12 EXCHANGE TRADED CONCEPTS, LLC 1.01% of their portfolio Oklahoma City, OK 1,216,1241.2m $121.0m $121.0m 1.01% New
13 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,003,3991.0m $99.9m $99.9m 0.03% Added +49.6k +49,615
14 JONES FINANCIAL COMPANIES LLLP 0.06% of their portfolio DES PERES, MO 976,829976.8k $97.2m $97.2m 0.06% Reduced -1.1m -1,112,664
15 NEUBERGER BERMAN GROUP LLC 0.06% of their portfolio NEW YORK, NY 838,230838.2k $83.4m $83.4m 0.06% Added +385.9k +385,879
16 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 643,653643.7k $64.1m $64.1m 0.02% Added +25.2k +25,161
17 TRUIST FINANCIAL CORP 0.09% of their portfolio CHARLOTTE, NC 640,914640.9k $63.8m $63.8m 0.09% Added +198.0k +198,020
18 HighTower Advisors, LLC 0.07% of their portfolio CHICAGO, IL 632,963633.0k $63.0m $63.0m 0.07% Added +585.0k +584,990
19 Henshaw Capital LLC 2.08% of their portfolio WOBURN, MA 582,050582.0k $57.9m $57.9m 2.08% Added +566.4k +566,400
20 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 566,220566.2k $56.4m $56.4m 0.01% Reduced -14.7k -14,659
21 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 528,965529.0k $52.6m $52.6m 0.03% Added +504.0k +503,965
22 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 516,485516.5k $51.4m $51.4m 0.01% New
23 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 516,386516.4k $51.4m $51.4m 0.02% Reduced -39.2k -39,222
24 EVOKE WEALTH, LLC 0.99% of their portfolio Los Angeles, CA 515,110515.1k $51.3m $51.3m 0.99% Added +25.1k +25,123
25 Venturi Wealth Management, LLC 2.04% of their portfolio AUSTIN, TX 461,606461.6k $45.9m $45.9m 2.04% Reduced -20.4k -20,406
26 AMG National Trust Bank 0.98% of their portfolio GREENWOOD VILLAGE, CO 417,552417.6k $41.6m $41.6m 0.98% Added +85.5k +85,462
27 CSM Advisors, LLC 0.98% of their portfolio WARRENDALE, PA 361,752361.8k $36.0m $36.0m 0.98% Added +52.9k +52,876
28 FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.18% of their portfolio Cincinnati, OH 345,054345.1k $34.3m $34.3m 0.18% Added +1.5k +1,513
29 Lido Advisors, LLC 0.12% of their portfolio Los Angeles, CA 321,648321.6k $31.6m $31.6m 0.12% Reduced -306 -306
30 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.05% of their portfolio TORONTO, A6 302,000302.0k $30.1m $30.1m 0.05% New
31 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 300,943300.9k $29.9m $29.9m 0.01% Added +46.1k +46,060
32 AE Wealth Management LLC 0.16% of their portfolio TOPEKA, KS 280,786280.8k $27.9m $27.9m 0.16% Added +9.6k +9,598
33 Janney Montgomery Scott LLC 0.06% of their portfolio PHILADELPHIA, PA 275,952276.0k $27.5m $27.5m 0.06% Added +3.1k +3,107
34 Waverly Advisors, LLC 0.22% of their portfolio BIRMINGHAM, AL 271,716271.7k $27.0m $27.0m 0.22% Added +2.9k +2,878
35 IMC-Chicago, LLC 0.42% of their portfolio CHICAGO, IL 239,506239.5k $23.8m $23.8m 0.42% New
36 RED CEDAR INVESTMENT MANAGEMENT, LLC 2.49% of their portfolio GRAND RAPIDS, MI 231,563231.6k $23.0m $23.0m 2.49% Added +107.8k +107,829
37 S. R. Schill & Associates 16.02% of their portfolio MERCER ISLAND, WA 228,041228.0k $22.7m $22.7m 16.02% Reduced -3.0k -2,974
38 WESBANCO BANK INC 0.62% of their portfolio WHEELING, WV 226,761226.8k $22.6m $22.6m 0.62% Added +30.1k +30,063
39 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 219,660219.7k $21.9m $21.9m 0.02% Added +91 +91
40 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 215,680215.7k $21.5m $21.5m 0.01% Reduced -74.3k -74,280
41 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 203,396203.4k $20.2m $20.2m 0.02% Added +95.6k +95,628
42 MOODY NATIONAL BANK TRUST DIVISION 1.85% of their portfolio GALVESTON, TX 193,160193.2k $19.2m $19.2m 1.85% Added +17.3k +17,300
43 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 190,729190.7k $19.0m $19.0m 0.03% Added +12.9k +12,870
44 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 185,892185.9k $18.5m $18.5m 0.01% Added +8.8k +8,819
45 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 184,346184.3k $18.3m $18.3m 0.01% Added +88.0k +87,980
46 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 180,397180.4k $18.0m $18.0m 0.03% Reduced -4.3k -4,261
47 FIRST CITIZENS BANK & TRUST CO 0.35% of their portfolio RALEIGH, NC 169,324169.3k $16.9m $16.9m 0.35% Added +3.4k +3,351
48 ALERUS FINANCIAL NA 0.82% of their portfolio GRAND FORKS, ND 167,452167.5k $16.7m $16.7m 0.82% Reduced -3.0k -2,950
49 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 156,139156.1k $15.5m $15.5m 0.02% Added +6.0k +6,024
50 SVB WEALTH LLC 0.89% of their portfolio BOSTON, MA 151,788151.8k $15.1m $15.1m 0.89% Added +4.5k +4,462
51 LBMC INVESTMENT ADVISORS, LLC 0.93% of their portfolio BRENTWOOD, TN 151,293151.3k $15.1m $15.1m 0.93% Added +166 +166
52 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 149,799149.8k $14.9m $14.9m 0.01% Added +6.1k +6,092
53 Brandywine Asset Management, Inc. 10.93% of their portfolio THORNTON, PA 147,940147.9k $15.6m $15.6m 10.93% First filing
54 Cadent Capital Advisors, LLC 3.74% of their portfolio TULSA, OK 142,182142.2k $14.1m $14.1m 3.74% Added +5.8k +5,790
55 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 141,865141.9k $14.1m $14.1m 0.03% Added +13.2k +13,232
56 Rathbones Group PLC 0.03% of their portfolio Liverpool, X0 138,740138.7k $13.8m $13.8m 0.03% Added +77.2k +77,154
57 CENTRAL VALLEY ADVISORS, LLC 4.11% of their portfolio SACRAMENTO, CA 138,261138.3k $13.8m $13.8m 4.11% Added +1.6k +1,628
58 Cresset Asset Management, LLC 0.06% of their portfolio Chicago, IL 134,880134.9k $13.4m $13.4m 0.06% Added +716 +716
59 GLENMEDE TRUST CO NA 0.06% of their portfolio PHILADELPHIA, PA 132,675132.7k $13.2m $13.2m 0.06% First filing
60 CIBC WORLD MARKET INC. 0.02% of their portfolio TORONTO, A6 127,035127.0k $12.6m $12.6m 0.02% Reduced -5.9k -5,938
61 Fusion Capital, LLC 3.54% of their portfolio MT. PLEASANT, SC 126,346126.3k $12.6m $12.6m 3.54% Added +7.0k +6,954
62 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 123,586123.6k $12.3m $12.3m 0.01% Added +2.5k +2,519
63 Pathstone Holdings, LLC 0.04% of their portfolio ENGLEWOOD, NJ 116,984117.0k $11.6m $11.6m 0.04% Added +17.1k +17,114
64 PARTNERS CAPITAL INVESTMENT GROUP, LLP 0.42% of their portfolio BOSTON, MA 114,466114.5k $11.4m $11.4m 0.42% Added +347 +347
65 LODESTAR PRIVATE ASSET MANAGEMENT LLC 1.06% of their portfolio ALAMO, CA 106,085106.1k $10.6m $10.6m 1.06% Added +843 +843
66 Litman Gregory Wealth Management LLC 0.75% of their portfolio LARKSPUR, CA 103,508103.5k $10.3m $10.3m 0.75% Reduced -3.2k -3,187
67 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 103,462103.5k $10.3m $10.3m 0.00% Added +3.8k +3,752
68 Zuckerman Investment Group, LLC 0.92% of their portfolio CHICAGO, IL 103,332103.3k $10.3m $10.3m 0.92% Added +3.0k +2,997
69 Rockbridge Investment Management, LCC 0.94% of their portfolio Syracuse, NY 101,531101.5k $10.1m $10.1m 0.94% Added +18.4k +18,409
70 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.33% of their portfolio BETHESDA, MD 100,000100.0k $10.0m $10.0m 0.33% Unchanged
71 FIRST NATIONAL BANK OF OMAHA 0.28% of their portfolio OMAHA, NE 95,65795.7k $9.6m $9.6m 0.28% Added +92.2k +92,174
72 D.A. DAVIDSON & CO. 0.06% of their portfolio GREAT FALLS, MT 95,53295.5k $9.5m $9.5m 0.06% Added +4.7k +4,720
73 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 94,35394.4k $9.4m $9.4m 0.01% Reduced -1.9k -1,874
74 Vise Technologies, Inc. 0.18% of their portfolio NEW YORK, NY 93,23193.2k $9.3m $9.3m 0.18% Added +6.1k +6,106
75 1900 WEALTH MANAGEMENT LLC 0.59% of their portfolio SAN ANTONIO, TX 92,29492.3k $9.2m $9.2m 0.59% Added +7 +7
76 Financial Engines Advisors L.L.C. 0.02% of their portfolio SANTA CLARA, CA 91,98592.0k $9.2m $9.2m 0.02% Reduced -4.0k -3,962
77 First Western Trust Bank 0.43% of their portfolio Denver, CO 86,90386.9k $8.6m $8.6m 0.43% Added +1.5k +1,483
78 COMERICA BANK 0.03% of their portfolio DALLAS, TX 86,43886.4k $8.6m $8.6m 0.03% Reduced -2.6k -2,571
79 Heritage Investment Group, Inc. 1.28% of their portfolio POMPANO BEACH, FL 84,45684.5k $8.4m $8.4m 1.28% Reduced -663 -663
80 PRAIRIEVIEW WEALTH PARTNERS, LLC 7.54% of their portfolio FRANKFORT, IL 83,48483.5k $8.3m $8.3m 7.54% Added +2.8k +2,786
81 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 82,16082.2k $8.2m $8.2m 0.01% Added +15.3k +15,314
82 BLAIR WILLIAM & CO/IL 0.02% of their portfolio CHICAGO, IL 80,15080.2k $8.0m $8.0m 0.02% Reduced -4.4k -4,421
83 EP Wealth Advisors, LLC 0.04% of their portfolio TORRANCE, CA 78,79778.8k $7.8m $7.8m 0.04% First filing
84 Mariner, LLC 0.01% of their portfolio Overland Park, KS 78,69378.7k $7.8m $7.8m 0.01% Added +4.6k +4,571
85 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 75,18175.2k $7.5m $7.5m 0.01% Added +31.9k +31,900
86 Farther Finance Advisors, LLC 0.08% of their portfolio SAN FRANCISCO, CA 73,21073.2k $7.3m $7.3m 0.08% Added +5.3k +5,266
87 Kingdom Financial Group LLC. 2.15% of their portfolio PEORIA, AZ 69,82769.8k $6.9m $6.9m 2.15% Added +41.5k +41,512
88 Mesirow Financial Investment Management, Inc. 0.14% of their portfolio CHICAGO, IL 69,22169.2k $6.9m $6.9m 0.14% Reduced -1.9k -1,937
89 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 68,89868.9k $6.9m $6.9m 0.02% Reduced -8.1k -8,084
90 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 68,73968.7k $6.8m $6.8m 0.01% Added +126 +126
91 CHOREO, LLC 0.09% of their portfolio ROCKFORD, IL 67,80367.8k $6.8m $6.8m 0.09% Added +5.8k +5,789
92 First Citizens Asset Management, Inc. 2.32% of their portfolio RALEIGH, NC 66,65266.7k $6.6m $6.6m 2.32% Reduced -311 -311
93 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 66,29366.3k $6.6m $6.6m 0.00% Added +2.1k +2,056
94 Financial & Tax Architects, LLC 1.48% of their portfolio ST LOUIS, MO 66,15766.2k $6.6m $6.6m 1.48% Added +23.8k +23,835
95 Kestra Advisory Services, LLC 0.03% of their portfolio AUSTIN, TX 63,68363.7k $6.3m $6.3m 0.03% Added +1.8k +1,783
96 St. Louis Trust Co 0.71% of their portfolio SAINT LOUIS, MO 62,24062.2k $6.2m $6.2m 0.71% Reduced -573 -573
97 Brooklyn FI, LLC 1.27% of their portfolio NEW YORK, NY 59,54059.5k $5.9m $5.9m 1.27% Added +4.1k +4,138
98 Operose Advisors LLC 1.37% of their portfolio MILWAUKEE, WI 59,02359.0k $5.9m $5.9m 1.37% Added +58.7k +58,683
99 LJI Wealth Management, LLC 0.87% of their portfolio INDIANAPOLIS, IN 57,21857.2k $5.7m $5.7m 0.87% Reduced -1.5k -1,498
100 Windward Private Wealth Management Inc. 1.92% of their portfolio OVERLAND PARK, KS 55,64955.6k $5.5m $5.5m 1.92% Reduced -1.6k -1,551