Vault-13

VANGUARD SCOTTSDALE FDS VCLT

LG-TERM COR BD · ETP · CUSIP 92206C813

328 institutional holders -15 vs Q1 2025
151,019,793151.0m shares reported held*
$7.0bnreported value*
34 new 137 added 107 reduced 49 sold out net sold ≈ $3.4bn (+14.8m 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 ($4.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $46.14. Options: 2 managers hold calls ($9.3m notional), 2 hold puts ($7.4m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 210Q4 22: 225Q1 23: 227Q2 23: 247Q3 23: 244Q4 23: 286Q1 24: 306Q2 24: 310Q3 24: 333Q4 24: 353Q1 25: 343Q2 25: 328328Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022210
Q4 2022225
Q1 2023227
Q2 2023247
Q3 2023244
Q4 2023286
Q1 2024306
Q2 2024310
Q3 2024333
Q4 2024353
Q1 2025343
Q2 2025328

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 122 bought or addedQ3 23: 118 cut or sold outQ4 23: 149 bought or addedQ4 23: 121 cut or sold outQ4 23Q1 24: 179 bought or addedQ1 24: 129 cut or sold outQ2 24: 165 bought or addedQ2 24: 133 cut or sold outQ2 24Q3 24: 206 bought or addedQ3 24: 98 cut or sold outQ4 24: 189 bought or addedQ4 24: 136 cut or sold outQ4 24Q1 25: 168 bought or addedQ1 25: 158 cut or sold outQ2 25: 171 bought or addedQ2 25: 156 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023122118
Q4 2023149121
Q1 2024179129
Q2 2024165133
Q3 202420698
Q4 2024189136
Q1 2025168158
Q2 2025171156

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ3 24 calls: $4.3mQ3 24 puts: $4.7mQ3 24P/C 1.11Q4 24 calls: $5.2mQ4 24 puts: $4.1mQ4 24P/C 0.78Q1 25 calls: $9.3mQ1 25 puts: $4.7mQ1 25P/C 0.51Q2 25 calls: $9.3mQ2 25 puts: $7.4mQ2 25P/C 0.80
Numbers
QuarterCallsPutsP/C
Q3 2024$4.3m$4.7m1.11
Q4 2024$5.2m$4.1m0.78
Q1 2025$9.3m$4.7m0.51
Q2 2025$9.3m$7.4m0.80

Biggest buyers

Gallagher Fiduciary Advisors, LLC Added +58,995,198+59.0m
CITIGROUP INC Added +1,328,981+1.3m
Capitolis Liquid Global Markets LLC New +670,500+670.5k
ROYAL BANK OF CANADA Added +443,113+443.1k
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC New +274,190+274.2k
CASTLEARK MANAGEMENT LLC New +236,450+236.4k
EXCHANGE TRADED CONCEPTS, LLC New +212,142+212.1k
TORONTO DOMINION BANK New +200,000+200.0k
STATE STREET CORP Added +191,387+191.4k
San Luis Wealth Advisors LLC New +169,348+169.3k

Biggest sellers

PRUDENTIAL PLC Reduced -44,199,735-44.2m
JANE STREET GROUP, LLC Reduced -657,096-657.1k
MORGAN STANLEY Reduced -502,764-502.8k
CoreCap Advisors, LLC Reduced -429,198-429.2k
OLD MISSION CAPITAL LLC Sold out -260,930-260.9k
CITADEL ADVISORS LLC Reduced -254,876-254.9k
BNP PARIBAS FINANCIAL MARKETS Reduced -200,000-200.0k
UNITED SERVICES AUTOMOBILE ASSOCIATION Reduced -189,350-189.3k
LPL Financial LLC Reduced -143,191-143.2k
Checchi Capital Advisers, LLC Reduced -136,500-136.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $8.8m115.8k shares
CITADEL ADVISORS LLC Added $508.5k6.7k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $6.2m82.2k shares
CITADEL ADVISORS LLC Added $1.2m15.8k 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Gallagher Fiduciary Advisors, LLC 0.03% of their portfolio ROLLING MEADOWS, IL 59,297,12459.3m $786.4k $786.4k 0.03% Added +59.0m +58,995,198
2 PRUDENTIAL PLC 18.75% of their portfolio LONDON, X0 40,444,80440.4m $3.1bn $3.1bn 18.75% Reduced -44.2m -44,199,735
3 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 5,324,9645.3m $404.2m $404.2m 0.03% Reduced -502.8k -502,764
4 Meiji Yasuda Life Insurance Co 6.40% of their portfolio TOKYO, M0 2,833,0002.8m $215.0m $215.0m 6.40% Unchanged
5 State of Tennessee, Department of Treasury 0.77% of their portfolio NASHVILLE, TN 2,827,9272.8m $214.6m $214.6m 0.77% Added +107.3k +107,304
6 Allianz Investment Management U.S. LLC 7.94% of their portfolio Minneapolis, MN 2,416,0122.4m $183.4m $183.4m 7.94% Unchanged
7 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,389,1582.4m $181.3m $181.3m 0.01% Added +11.0k +11,002
8 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio SAN FRANCISCO, CA 2,274,8192.3m $172.7m $172.7m 0.03% Added +58.1k +58,135
9 Angeles Investment Advisors, LLC 6.89% of their portfolio SANTA MONICA, CA 1,606,0001.6m $121.9m $121.9m 6.89% Unchanged
10 Varma Mutual Pension Insurance Co 0.89% of their portfolio Varma, H9 1,600,0001.6m $121.4m $121.4m 0.89% Unchanged
11 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 1,591,9041.6m $120.8m $120.8m 0.03% Reduced -77.9k -77,913
12 CITIGROUP INC 0.07% of their portfolio NEW YORK, NY 1,356,1141.4m $102.9m $102.9m 0.07% Added +1.3m +1,328,981
13 Ocean Park Asset Management, LLC 3.58% of their portfolio SANTA MONICA, CA 1,327,7001.3m $100.8m $100.8m 3.58% Unchanged
14 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,190,7201.2m $90.4m $90.4m 0.01% Added +443.1k +443,113
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,121,8461.1m $85.1m $85.1m 0.00% Added +191.4k +191,387
16 BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio PARIS, I0 902,723902.7k $68.5m $68.5m 0.05% Reduced -200.0k -200,000
17 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 732,016732.0k $55.5m $55.5m 0.01% Reduced -110.6k -110,619
18 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 694,259694.3k $52.7m $52.7m 0.02% Reduced -24.5k -24,526
19 Capitolis Liquid Global Markets LLC 0.37% of their portfolio NEW YORK, NY 670,500670.5k $50.9m $50.9m 0.37% New
20 UBS Group AG 0.01% of their portfolio ZURICH, V8 649,790649.8k $49.3m $49.3m 0.01% Added +13.5k +13,549
21 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 649,206649.2k $49.3m $49.3m 0.02% Reduced -143.2k -143,191
22 Allspring Global Investments Holdings, LLC 0.08% of their portfolio CHARLOTTE, NC 633,641633.6k $48.1m $48.1m 0.08% Added +140.8k +140,804
23 NYL Investors LLC 13.09% of their portfolio NEW YORK, NY 625,629625.6k $47.5m $47.5m 13.09% Added +6.5k +6,529
24 BlackRock, Inc. 0.00% of their portfolio New York, NY 622,629622.6k $47.3m $47.3m 0.00% Added +430 +430
25 GDS Wealth Management 3.14% of their portfolio FLOWER MOUND, TX 567,222567.2k $43.1m $43.1m 3.14% Reduced -49.4k -49,358
26 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 542,428542.4k $41.2m $41.2m 0.01% Added +1.5k +1,523
27 Advisory Alpha, LLC 1.19% of their portfolio HOLLAND, MI 503,551503.6k $38.2m $38.2m 1.19% Reduced -7.1k -7,107
28 Sanctuary Advisors, LLC 0.22% of their portfolio INDIANAPOLIS, IN 474,877474.9k $36.0m $36.0m 0.22% Reduced -3.8k -3,787
29 GLOBE LIFE INC. 9.87% of their portfolio MCKINNEY, TX 474,500474.5k $36.0m $36.0m 9.87% Unchanged
30 FIDUCIENT ADVISORS LLC 4.36% of their portfolio Chicago, IL 468,948468.9k $35.6m $35.6m 4.36% Added +18.9k +18,915
31 Diana Davis Spencer Foundation 11.99% of their portfolio BETHESDA, MD 461,000461.0k $35.0m $35.0m 11.99% Unchanged
32 BENJAMIN EDWARDS INC 0.42% of their portfolio Clayton, MO 436,328436.3k $33.1m $33.1m 0.42% Added +113.8k +113,839
33 Employees' Retirement Fund of the City of Fort Worth 14.44% of their portfolio FORT WORTH, TX 416,500416.5k $31.6m $31.6m 14.44% Unchanged
34 ALERUS FINANCIAL NA 2.24% of their portfolio GRAND FORKS, ND 409,515409.5k $31.1m $31.1m 2.24% Added +3.9k +3,911
35 MML INVESTORS SERVICES, LLC 0.08% of their portfolio SPRINGFIELD, MA 387,173387.2k $29.4m $29.4m 0.08% Reduced -22.9k -22,867
36 Insight Wealth Strategies, LLC 3.64% of their portfolio SAN RAMON, CA 380,395380.4k $28.8m $28.8m 3.64% Added +3.3k +3,253
37 1832 Asset Management L.P. 0.05% of their portfolio TORONTO, A6 357,866357.9k $27.2m $27.2m 0.05% Added +17.9k +17,875
38 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 336,965337.0k $25.6m $25.6m 0.01% Reduced -51.0k -51,040
39 Mirae Asset Global Investments Co., Ltd. 0.09% of their portfolio SEOUL, M5 324,336324.3k $24.6m $24.6m 0.09% Added +51.2k +51,171
40 Bramshill Investments, LLC 2.49% of their portfolio NAPLES, FL 314,098314.1k $23.8m $23.8m 2.49% Added +16.3k +16,319
41 Davidson Capital Management Inc. 5.34% of their portfolio CORPUS CHRISTI, TX 292,881292.9k $22.2m $22.2m 5.34% Added +52.9k +52,937
42 NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC 0.32% of their portfolio MILWAUKEE, WI 274,190274.2k $20.8m $20.8m 0.32% New
43 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 268,855268.9k $20.4m $20.4m 0.04% Added +45.9k +45,851
44 DOW CHEMICAL CO /DE/ 8.44% of their portfolio MIDLAND, MI 264,221264.2k $20.1m $20.1m 8.44% Unchanged
45 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 250,852250.9k $19.0m $19.0m 0.03% Reduced -657.1k -657,096
46 SWAN Capital LLC 8.09% of their portfolio PENSACOLA, FL 245,377245.4k $18.6m $18.6m 8.09% Reduced -15.4k -15,409
47 CASTLEARK MANAGEMENT LLC 0.54% of their portfolio CHICAGO, IL 236,450236.4k $17.9m $17.9m 0.54% New
48 MIdWestOne Financial Group, Inc. 2.16% of their portfolio Iowa City, IA 219,590219.6k $16.7m $16.7m 2.16% Reduced -78.3k -78,259
49 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 219,122219.1k $16.6m $16.6m 0.00% Reduced -130.6k -130,587
50 EXCHANGE TRADED CONCEPTS, LLC 0.21% of their portfolio Oklahoma City, OK 212,142212.1k $16.1m $16.1m 0.21% New
51 Berkeley Capital Partners, LLC 3.91% of their portfolio Milton, GA 202,842202.8k $15.4m $15.4m 3.91% Added +7.0k +7,007
52 TORONTO DOMINION BANK 0.03% of their portfolio TORONTO, ONTARIO, A6 200,000200.0k $15.2m $15.2m 0.03% New
53 UNITED SERVICES AUTOMOBILE ASSOCIATION 1.49% of their portfolio SAN ANTONIO, TX 189,350189.3k $14.4m $14.4m 1.49% Reduced -189.3k -189,350
54 NewEdge Wealth, LLC 0.22% of their portfolio STAMFORD, CT 187,172187.2k $14.2m $14.2m 0.22% Reduced -128.1k -128,054
55 NewEdge Advisors, LLC 0.07% of their portfolio NEW ORLEANS, LA 186,473186.5k $14.2m $14.2m 0.07% Added +65.5k +65,470
56 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 186,379186.4k $14.1m $14.1m 0.02% Reduced -111.6k -111,585
57 NISA INVESTMENT ADVISORS, LLC 0.06% of their portfolio ST. LOUIS, MO 183,600183.6k $13.9m $13.9m 0.06% Added +4.5k +4,536
58 AMG National Trust Bank 0.36% of their portfolio GREENWOOD VILLAGE, CO 180,805180.8k $13.7m $13.7m 0.36% Reduced -14.2k -14,227
59 San Luis Wealth Advisors LLC 2.76% of their portfolio SAN LUIS OBISPO, CA 169,348169.3k $12.9m $12.9m 2.76% New
60 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 163,392163.4k $12.4m $12.4m 0.01% Reduced -39.2k -39,250
61 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 154,519154.5k $11.7m $11.7m 0.02% Reduced -109.4k -109,392
62 Providence First Trust Co 3.93% of their portfolio SCOTTSDALE, AZ 146,640146.6k $11.1m $11.1m 3.93% Reduced -360 -360
63 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 146,574146.6k $11.1m $11.1m 0.01% Added +127.4k +127,404
64 Belpointe Asset Management LLC 0.46% of their portfolio RENO, NV 146,005146.0k $11.1m $11.1m 0.46% New
65 Northeast Financial Group, Inc. 3.34% of their portfolio Allentown, PA 139,065139.1k $10.6m $10.6m 3.34% Added +13.8k +13,787
66 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 131,038131.0k $9.9m $9.9m 0.02% Reduced -79.1k -79,103
67 Lighthouse Financial LLC 7.60% of their portfolio LARGO, FL 130,698130.7k $9.9m $9.9m 7.60% Reduced -556 -556
68 Marmo Financial Group, LLC 4.84% of their portfolio Johnson City, TN 127,911127.9k $9.7m $9.7m 4.84% Reduced -286 -286
69 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 124,487124.5k $9.4m $9.4m 0.02% Added +2.5k +2,488
70 GUGGENHEIM CAPITAL LLC 0.07% of their portfolio CHICAGO, IL 121,048121.0k $9.2m $9.2m 0.07% Added +33.3k +33,274
71 Prospect Financial Services LLC 5.68% of their portfolio MELVILLE, NY 119,970120.0k $9.1m $9.1m 5.68% Reduced -63.6k -63,580
72 Revisor Wealth Management LLC 3.24% of their portfolio AKRON, OH 119,517119.5k $9.0m $9.0m 3.24% Added +21.2k +21,216
73 BNP PARIBAS 0.29% of their portfolio NEW YORK, NY 118,378118.4k $9.0m $9.0m 0.29% Added +113.9k +113,884
74 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 112,500112.5k $8.5m $8.5m 0.03% Added +5.5k +5,535
75 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 109,647109.6k $8.3m $8.3m 0.00% Added +109.6k +109,636
76 One Wealth Map LLC 4.07% of their portfolio LAS VEGAS, NV 99,20799.2k $7.4m $7.4m 4.07% Added +8.6k +8,607
77 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 95,57795.6k $7.3m $7.3m 0.00% Reduced -62.6k -62,600
78 Sellwood Investment Partners LLC 3.32% of their portfolio PORTLAND, OR 91,60691.6k $7.0m $7.0m 3.32% Added +5.9k +5,865
79 WEBSTERROGERS FINANCIAL ADVISORS, LLC 2.11% of their portfolio FLORENCE, SC 87,63087.6k $6.7m $6.7m 2.11% Added +1.2k +1,223
80 FINANCIAL ADVISORY PARTNERS, LLC 2.02% of their portfolio WINTER PARK, FL 84,60584.6k $6.4m $6.4m 2.02% Added +6.1k +6,125
81 BANK OF HAWAII 0.34% of their portfolio HONOLULU, HI 84,16284.2k $6.4m $6.4m 0.34% Added +3.9k +3,937
82 SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.10% of their portfolio TOKYO, M0 81,69381.7k $6.2m $6.2m 0.10% Reduced -10.1k -10,058
83 White Lighthouse Investment Management Inc. 0.97% of their portfolio BEDFORD, MA 78,50278.5k $6.0m $6.0m 0.97% Added +9 +9
84 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 77,73777.7k $5.9m $5.9m 0.01% Reduced -254.9k -254,876
85 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 77,21777.2k $5.9m $5.9m 0.01% Reduced -2.4k -2,437
86 LeConte Wealth Management, LLC 3.90% of their portfolio Maryville, TN 75,99676.0k $5.8m $5.8m 3.90% Reduced -7.6k -7,646
87 Marion Wealth Management 1.43% of their portfolio MONROEVILLE, PA 75,28675.3k $5.7m $5.7m 1.43% Added +802 +802
88 Regal Investment Advisors LLC 0.42% of their portfolio KENTWOOD, MI 72,98273.0k $5.5m $5.5m 0.42% Added +362 +362
89 Antonelli Financial Advisors, LLC 4.00% of their portfolio GROSSE POINTE, MI 72,94372.9k $5.5m $5.5m 4.00% Added +9.5k +9,519
90 Econ Financial Services Corp 2.81% of their portfolio HARRISBURG, PA 71,98372.0k $5.5m $5.5m 2.81% Added +645 +645
91 Refined Wealth Management 3.43% of their portfolio SALT LAKE CITY, UT 65,66965.7k $5.0m $5.0m 3.43% Added +25 +25
92 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 64,98565.0k $4.9m $4.9m 0.00% Added +155 +155
93 RiverFront Investment Group, LLC 0.10% of their portfolio RICHMOND, VA 64,83964.8k $4.9m $4.9m 0.10% Reduced -62.3k -62,328
94 NewSquare Capital LLC 0.34% of their portfolio NEWTOWN SQUARE, PA 59,59759.6k $4.5m $4.5m 0.34% Added +1.7k +1,690
95 ASSETMARK, INC 0.01% of their portfolio CONCORD, CA 59,12059.1k $4.5m $4.5m 0.01% Reduced -89.5k -89,516
96 VICTORY FINANCIAL GROUP, LLC 0.70% of their portfolio AUSTIN, TX 57,99858.0k $4.4m $4.4m 0.70% Reduced -2.9k -2,921
97 &PARTNERS 0.03% of their portfolio NASHVILLE, TN 55,04655.0k $4.2m $4.2m 0.03% Reduced -8.3k -8,333
98 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 54,23654.2k $4.1m $4.1m 0.00% Added +4.2k +4,244
99 4Thought Financial Group Inc. 2.13% of their portfolio SYOSSET, NY 52,71252.7k $4.0m $4.0m 2.13% Added +3.1k +3,131
100 HORIZON FINANCIAL SERVICES, LLC 2.04% of their portfolio WINSTON SALEM, NC 50,79350.8k $3.9m $3.9m 2.04% Reduced -148 -148