Vault-13

VANGUARD SCOTTSDALE FDS VCLT

LG-TERM COR BD · ETP · CUSIP 92206C813

349 institutional holders -15 vs Q4 2025
126,593,940126.6m shares reported held*
$4.9bnreported value*
42 new 151 added 106 reduced 51 sold out net bought ≈ $1.0bn (+74.5m 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 ($24.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $38.55. Options: 2 managers hold calls ($11.4m notional), 2 hold puts ($8.0m).

Trends to Q1 2026

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: 328Q3 25: 338Q4 25: 364Q1 26: 349349Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025338
Q4 2025364
Q1 2026349

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 24: 165 bought or addedQ2 24: 133 cut or sold outQ3 24: 206 bought or addedQ3 24: 98 cut or sold outQ3 24Q4 24: 189 bought or addedQ4 24: 136 cut or sold outQ1 25: 168 bought or addedQ1 25: 158 cut or sold outQ1 25Q2 25: 171 bought or addedQ2 25: 156 cut or sold outQ3 25: 192 bought or addedQ3 25: 128 cut or sold outQ3 25Q4 25: 203 bought or addedQ4 25: 133 cut or sold outQ1 26: 193 bought or addedQ1 26: 157 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024165133
Q3 202420698
Q4 2024189136
Q1 2025168158
Q2 2025171156
Q3 2025192128
Q4 2025203133
Q1 2026193157

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ2 25 calls: $9.3mQ2 25 puts: $7.4mQ2 25P/C 0.80Q3 25 calls: $15.5mQ3 25 puts: $10.3mQ3 25P/C 0.67Q4 25 calls: $10.5mQ4 25 puts: $5.8mQ4 25P/C 0.55Q1 26 calls: $11.4mQ1 26 puts: $8.0mQ1 26P/C 0.70
Numbers
QuarterCallsPutsP/C
Q2 2025$9.3m$7.4m0.80
Q3 2025$15.5m$10.3m0.67
Q4 2025$10.5m$5.8m0.55
Q1 2026$11.4m$8.0m0.70

Biggest buyers

Gallagher Fiduciary Advisors, LLC Added +60,677,297+60.7m
MORGAN STANLEY Added +9,052,146+9.1m
UBS Group AG Added +1,549,641+1.5m
BNP PARIBAS FINANCIAL MARKETS New +1,501,253+1.5m
PNC Financial Services Group, Inc. Added +509,611+509.6k
STATE STREET CORP Added +474,489+474.5k
JANE STREET GROUP, LLC Added +409,705+409.7k
OLD MISSION CAPITAL LLC New +335,010+335.0k
Davidson Capital Management Inc. Added +283,226+283.2k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Added +213,680+213.7k

Biggest sellers

Jefferies Financial Group Inc. Reduced -534,259-534.3k
Diana Davis Spencer Foundation Sold out -461,000-461.0k
JPMORGAN CHASE & CO Reduced -390,729-390.7k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -251,158-251.2k
BANK OF AMERICA CORP /DE/ Reduced -232,399-232.4k
BARCLAYS PLC Reduced -220,659-220.7k
Destiny Wealth Partners, LLC Reduced -163,413-163.4k
Estate Counselors, LLC Sold out -141,405-141.4k
J.E. Simmons & Co., P.C. Reduced -111,301-111.3k
HRT FINANCIAL LP Sold out -96,604-96.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $8.7m116.6k shares
CITADEL ADVISORS LLC Added $2.7m36.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $6.5m87.1k shares
CITADEL ADVISORS LLC Added $1.4m19.4k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Gallagher Fiduciary Advisors, LLC 0.03% of their portfolio ROLLING MEADOWS, IL 61,523,02861.5m $823.4k $823.4k 0.03% Added +60.7m +60,677,297
2 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 16,328,91116.3m $1.2bn $1.2bn 0.07% Added +9.1m +9,052,146
3 State of Tennessee, Department of Treasury 0.79% of their portfolio NASHVILLE, TN 3,152,6973.2m $235.6m $235.6m 0.79% Added +40.7k +40,672
4 Meiji Yasuda Life Insurance Co 7.23% of their portfolio TOKYO, M0 2,833,0002.8m $211.7m $211.7m 7.23% Unchanged
5 Allianz SE 2.00% of their portfolio Munich, 2M 2,416,0122.4m $180.5m $180.5m 2.00% Unchanged
6 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,413,5292.4m $180.3m $180.3m 0.01% Reduced -232.4k -232,399
7 UBS Group AG 0.03% of their portfolio ZURICH, V8 2,407,3382.4m $179.9m $179.9m 0.03% Added +1.5m +1,549,641
8 COUNTRY TRUST BANK 2.65% of their portfolio Bloomington, IL 1,868,7931.9m $139.6m $139.6m 2.65% Unchanged
9 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 1,709,1531.7m $127.7m $127.7m 0.03% Reduced -10.5k -10,508
10 Varma Mutual Pension Insurance Co 0.70% of their portfolio Varma, H9 1,600,0001.6m $119.6m $119.6m 0.70% Unchanged
11 BNP PARIBAS FINANCIAL MARKETS 0.07% of their portfolio PARIS, I0 1,501,2531.5m $112.2m $112.2m 0.07% New
12 NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC 1.51% of their portfolio MILWAUKEE, WI 1,335,5901.3m $99.8m $99.8m 1.51% Added +69.7k +69,700
13 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 852,628852.6k $63.7m $63.7m 0.01% Added +213.0k +212,997
14 GDS Wealth Management 3.75% of their portfolio FLOWER MOUND, TX 834,243834.2k $62.3m $62.3m 3.75% Added +91.8k +91,838
15 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 818,695818.7k $61.2m $61.2m 0.02% Added +103.2k +103,193
16 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 751,858751.9k $56.2m $56.2m 0.00% Added +474.5k +474,489
17 Angeles Investment Advisors, LLC 3.58% of their portfolio SANTA MONICA, CA 712,400712.4k $53.2m $53.2m 3.58% Unchanged
18 Davidson Capital Management Inc. 9.56% of their portfolio CORPUS CHRISTI, TX 706,011706.0k $52.8m $52.8m 9.56% Added +283.2k +283,226
19 GLOBE LIFE INC. 13.82% of their portfolio MCKINNEY, TX 704,500704.5k $52.6m $52.6m 13.82% Unchanged
20 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 681,612681.6k $50.9m $50.9m 0.03% Added +509.6k +509,611
21 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 674,116674.1k $51.1m $51.1m 0.02% Added +114.0k +114,029
22 NYL Investors LLC 18.15% of their portfolio NEW YORK, NY 643,022643.0k $48.0m $48.0m 18.15% Added +4.2k +4,215
23 Sanctuary Advisors, LLC 0.24% of their portfolio INDIANAPOLIS, IN 594,398594.4k $44.4m $44.4m 0.24% Added +21.9k +21,885
24 BlackRock, Inc. 0.00% of their portfolio New York, NY 570,850570.9k $42.7m $42.7m 0.00% Unchanged
25 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 555,938555.9k $41.5m $41.5m 0.04% Added +409.7k +409,705
26 Advisory Alpha, LLC 1.08% of their portfolio HOLLAND, MI 527,959528.0k $39.5m $39.5m 1.08% Reduced -9.7k -9,720
27 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 526,351526.4k $39.3m $39.3m 0.01% Reduced -3.6k -3,619
28 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 508,800508.8k $38.0m $38.0m 0.01% Added +47.2k +47,203
29 BENJAMIN EDWARDS INC 0.38% of their portfolio Clayton, MO 507,413507.4k $37.9m $37.9m 0.38% Added +41.0k +41,009
30 Allspring Global Investments Holdings, LLC 0.06% of their portfolio CHARLOTTE, NC 506,872506.9k $37.9m $37.9m 0.06% Reduced -25.2k -25,234
31 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 504,278504.3k $37.7m $37.7m 0.01% Added +52.7k +52,655
32 Employees' Retirement Fund of the City of Fort Worth 14.97% of their portfolio FORT WORTH, TX 461,600461.6k $34.5m $34.5m 14.97% Unchanged
33 CASTLEARK MANAGEMENT LLC 1.11% of their portfolio CHICAGO, IL 448,330448.3k $33.5m $33.5m 1.11% Added +211.9k +211,880
34 ALERUS FINANCIAL NA 1.51% of their portfolio GRAND FORKS, ND 408,354408.4k $30.5m $30.5m 1.51% Added +17.1k +17,084
35 1832 Asset Management L.P. 0.04% of their portfolio TORONTO, A6 372,629372.6k $27.8m $27.8m 0.04% Added +12.5k +12,506
36 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 365,792365.8k $27.3m $27.3m 0.03% Added +31.3k +31,339
37 Insight Wealth Strategies, LLC 3.02% of their portfolio SAN RAMON, CA 361,651361.7k $27.0m $27.0m 3.02% Reduced -37.0k -36,999
38 FIDUCIENT ADVISORS LLC 3.45% of their portfolio Chicago, IL 353,323353.3k $26.4m $26.4m 3.45% Unchanged
39 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 348,245348.2k $26.0m $26.0m 0.00% Added +178.3k +178,313
40 DOW CHEMICAL CO /DE/ 10.51% of their portfolio MIDLAND, MI 335,912335.9k $25.1m $25.1m 10.51% Reduced -2.8k -2,834
41 OLD MISSION CAPITAL LLC 0.59% of their portfolio CHICAGO, IL 335,010335.0k $25.0m $25.0m 0.59% New
42 Mirae Asset Global Investments Co., Ltd. 0.07% of their portfolio SEOUL, M5 324,099324.1k $24.2m $24.2m 0.07% Added +6.9k +6,939
43 Bramshill Investments, LLC 2.02% of their portfolio NAPLES, FL 313,863313.9k $23.5m $23.5m 2.02% Reduced -9.5k -9,529
44 SWAN Capital LLC 7.64% of their portfolio PENSACOLA, FL 277,982278.0k $20.8m $20.8m 7.64% Reduced -4.2k -4,155
45 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 275,799275.8k $20.6m $20.6m 0.06% Reduced -69.0k -69,002
46 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 268,180268.2k $20.0m $20.0m 0.00% Added +213.7k +213,680
47 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 246,292246.3k $18.4m $18.4m 0.02% Added +69.4k +69,390
48 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 241,464241.5k $17.9m $17.9m 0.00% Reduced -390.7k -390,729
49 CWM, LLC 0.05% of their portfolio OMAHA, NE 235,808235.8k $17.6m $17.6m 0.05% Added +15.5k +15,458
50 Cambridge Investment Research Advisors, Inc. 0.04% of their portfolio FAIRFIELD, IA 233,178233.2k $17.4m $17.4m 0.04% Reduced -11.9k -11,939
51 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 224,815224.8k $16.8m $16.8m 0.02% Added +16.7k +16,715
52 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 224,641224.6k $16.8m $16.8m 0.02% Reduced -10.9k -10,936
53 Berkeley Capital Partners, LLC 3.85% of their portfolio Milton, GA 222,404222.4k $16.6m $16.6m 3.85% Added +9.5k +9,485
54 NICOLET BANKSHARES INC 0.57% of their portfolio GREEN BAY, WI 207,377207.4k $15.5m $15.5m 0.57% New
55 EXCHANGE TRADED CONCEPTS, LLC 0.11% of their portfolio Oklahoma City, OK 188,756188.8k $14.1m $14.1m 0.11% Added +7.0k +6,993
56 NewEdge Wealth, LLC 0.17% of their portfolio STAMFORD, CT 186,198186.2k $13.9m $13.9m 0.17% Added +7.7k +7,665
57 RFG Holdings, Inc. 3.42% of their portfolio Argyle, TX 181,784181.8k $13.6m $13.6m 3.42% New
58 UNITED SERVICES AUTOMOBILE ASSOCIATION 1.55% of their portfolio SAN ANTONIO, TX 176,839176.8k $13.2m $13.2m 1.55% Reduced -13.9k -13,860
59 Rakuten Investment Management, Inc. 0.03% of their portfolio TOKYO, M0 174,090174.1k $13.5m $13.5m 0.03% Added +87.0k +87,045
60 GUGGENHEIM CAPITAL LLC 0.10% of their portfolio CHICAGO, IL 173,899173.9k $13.0m $13.0m 0.10% Added +19.7k +19,683
61 RHL GROUP, LLC 10.52% of their portfolio HOLLY, MI 164,873164.9k $12.3m $12.3m 10.52% Added +83.5k +83,538
62 NISA INVESTMENT ADVISORS, LLC 0.05% of their portfolio ST. LOUIS, MO 163,707163.7k $12.2m $12.2m 0.05% Reduced -2.9k -2,895
63 Seven Springs Wealth Group, LLC 2.72% of their portfolio BRENTWOOD, TN 157,178157.2k $11.7m $11.7m 2.72% New
64 AMG National Trust Bank 0.25% of their portfolio GREENWOOD VILLAGE, CO 154,420154.4k $11.5m $11.5m 0.25% Reduced -13.2k -13,202
65 CHOREO, LLC 0.13% of their portfolio ROCKFORD, IL 146,447146.4k $10.9m $10.9m 0.13% New
66 Northeast Financial Group, Inc. 2.86% of their portfolio Allentown, PA 143,713143.7k $10.7m $10.7m 2.86% Reduced -14.2k -14,225
67 Providence First Trust Co 3.62% of their portfolio SCOTTSDALE, AZ 137,746137.7k $10.3m $10.3m 3.62% Reduced -3.1k -3,075
68 Cordoba Advisory Partners LLC 2.80% of their portfolio NEW YORK, NY 135,525135.5k $10.1m $10.1m 2.80% Added +9.6k +9,622
69 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 130,602130.6k $9.8m $9.8m 0.02% Reduced -8.2k -8,213
70 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 128,244128.2k $9.6m $9.6m 0.02% Added +59.8k +59,778
71 Prospect Financial Services LLC 5.78% of their portfolio MELVILLE, NY 126,645126.6k $9.5m $9.5m 5.78% Reduced -3.2k -3,219
72 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 123,997124.0k $9.3m $9.3m 0.01% Reduced -69.7k -69,737
73 LeConte Wealth Management, LLC 5.84% of their portfolio Maryville, TN 120,811120.8k $9.0m $9.0m 5.84% Reduced -3.1k -3,071
74 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.33% of their portfolio BETHESDA, MD 120,000120.0k $9.0m $9.0m 0.33% New
75 Revisor Wealth Management LLC 2.47% of their portfolio AKRON, OH 119,524119.5k $8.9m $8.9m 2.47% Reduced -15.9k -15,857
76 San Luis Wealth Advisors LLC 1.42% of their portfolio SAN LUIS OBISPO, CA 114,478114.5k $8.6m $8.6m 1.42% Added +16.2k +16,183
77 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 110,517110.5k $8.1m $8.1m 0.00% Added +16.7k +16,681
78 Lighthouse Financial LLC 4.92% of their portfolio LARGO, FL 109,138109.1k $8.2m $8.2m 4.92% Added +9 +9
79 NewEdge Advisors, LLC 0.03% of their portfolio NEW ORLEANS, LA 108,448108.4k $8.1m $8.1m 0.03% Reduced -11.1k -11,149
80 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 107,570107.6k $8.0m $8.0m 0.01% Added +8.5k +8,528
81 Sellwood Investment Partners LLC 3.10% of their portfolio PORTLAND, OR 105,314105.3k $7.9m $7.9m 3.10% Added +4.3k +4,268
82 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 103,930103.9k $7.8m $7.8m 0.01% Reduced -82.6k -82,555
83 Marmo Financial Group, LLC 3.81% of their portfolio Johnson City, TN 103,011103.0k $7.7m $7.7m 3.81% Reduced -3.2k -3,158
84 WEBSTERROGERS FINANCIAL ADVISORS, LLC 2.18% of their portfolio FLORENCE, SC 101,775101.8k $7.6m $7.6m 2.18% Added +3.2k +3,212
85 One Wealth Map LLC 3.69% of their portfolio LAS VEGAS, NV 101,681101.7k $7.6m $7.6m 3.69% Reduced -2.9k -2,913
86 MONETA GROUP INVESTMENT ADVISORS LLC 0.06% of their portfolio ST LOUIS, MO 100,309100.3k $7.5m $7.5m 0.06% Added +4.9k +4,918
87 Saba Capital Management, L.P. 0.24% of their portfolio NEW YORK, NY 100,000100.0k $7.5m $7.5m 0.24% New
88 Antonelli Financial Advisors, LLC 5.07% of their portfolio GROSSE POINTE, MI 98,13798.1k $7.3m $7.3m 5.07% Added +6.1k +6,081
89 McMill Wealth Management 1.98% of their portfolio NORFOLK, NE 93,99894.0k $7.5m $7.5m 1.98% New
90 BARINGS LLC 0.11% of their portfolio CHARLOTTE, NC 93,54593.5k $7.0m $7.0m 0.11% Reduced -96.5k -96,455
91 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 93,05193.1k $7.0m $7.0m 0.00% Added +30.0k +30,040
92 RiverFront Investment Group, LLC 0.11% of their portfolio RICHMOND, VA 91,04591.0k $6.8m $6.8m 0.11% Added +7.6k +7,556
93 SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.14% of their portfolio TOKYO, M0 89,92789.9k $6.7m $6.7m 0.14% Added +10.1k +10,139
94 Marion Wealth Management 1.42% of their portfolio MONROEVILLE, PA 85,40985.4k $6.4m $6.4m 1.42% Added +6.1k +6,131
95 Concurrent Investment Advisors, LLC 0.07% of their portfolio Tampa, FL 83,85783.9k $6.3m $6.3m 0.07% Reduced -4.3k -4,296
96 MANNING & NAPIER ADVISORS LLC 0.09% of their portfolio Fairport, NY 81,47181.5k $6.1m $6.1m 0.09% Added +67.0k +66,964
97 Purpose Unlimited Inc. 0.20% of their portfolio TORONTO, A6 64,73064.7k $4.8m $4.8m 0.20% Unchanged
98 Mechanics Bank Trust Department 0.67% of their portfolio Walnut Creek, CA 64,65864.7k $4.8m $4.8m 0.67% Added +7.5k +7,494
99 NewSquare Capital LLC 0.42% of their portfolio NEWTOWN SQUARE, PA 64,32364.3k $4.8m $4.8m 0.42% Added +3.3k +3,328
100 FINANCIAL ADVISORY PARTNERS, LLC 1.33% of their portfolio WINTER PARK, FL 62,78362.8k $4.7m $4.7m 1.33% Reduced -431 -431