Vault-13

VANGUARD SCOTTSDALE FDS VGLT

LONG TERM TREAS · ETP · CUSIP 92206C847

402 institutional holders -5 vs Q2 2025
112,315,623112.3m shares reported held*
$6.4bnreported value*
53 new 156 added 140 reduced 53 sold out net bought ≈ $5.3m (-792.8k 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 ($26.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $57.26. Options: 3 managers hold calls ($8.8m notional), 3 hold puts ($7.0m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 206Q4 22: 237Q1 23: 253Q2 23: 288Q3 23: 295Q4 23: 357Q1 24: 368Q2 24: 374Q3 24: 416Q4 24: 415Q1 25: 414Q2 25: 407Q3 25: 402402Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022206
Q4 2022237
Q1 2023253
Q2 2023288
Q3 2023295
Q4 2023357
Q1 2024368
Q2 2024374
Q3 2024416
Q4 2024415
Q1 2025414
Q2 2025407
Q3 2025402

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 23: 242 bought or addedQ4 23: 112 cut or sold outQ1 24: 237 bought or addedQ1 24: 146 cut or sold outQ1 24Q2 24: 218 bought or addedQ2 24: 163 cut or sold outQ3 24: 244 bought or addedQ3 24: 156 cut or sold outQ3 24Q4 24: 207 bought or addedQ4 24: 202 cut or sold outQ1 25: 217 bought or addedQ1 25: 197 cut or sold outQ1 25Q2 25: 223 bought or addedQ2 25: 191 cut or sold outQ3 25: 209 bought or addedQ3 25: 193 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023242112
Q1 2024237146
Q2 2024218163
Q3 2024244156
Q4 2024207202
Q1 2025217197
Q2 2025223191
Q3 2025209193

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ4 24 calls: $12.1mQ4 24 puts: $4.3mQ4 24P/C 0.35Q1 25 calls: $22.3mQ1 25 puts: $3.8mQ1 25P/C 0.17Q2 25 calls: $9.1mQ2 25 puts: $5.0mQ2 25P/C 0.55Q3 25 calls: $8.8mQ3 25 puts: $7.0mQ3 25P/C 0.80
Numbers
QuarterCallsPutsP/C
Q4 2024$12.1m$4.3m0.35
Q1 2025$22.3m$3.8m0.17
Q2 2025$9.1m$5.0m0.55
Q3 2025$8.8m$7.0m0.80

Biggest buyers

Empower Advisory Group, LLC Added +908,700+908.7k
JPMORGAN CHASE & CO Added +708,667+708.7k
Forum Financial Management, LP Added +621,492+621.5k
MERCER GLOBAL ADVISORS INC /ADV New +517,776+517.8k
Dunhill Financial, LLC New +458,020+458.0k
RETIREMENT FINANCIAL SOLUTIONS, LLC New +400,060+400.1k
NEPC LLC Added +364,232+364.2k
ASSETMARK, INC Added +346,348+346.3k
TIFF ADVISORY SERVICES, LLC Added +326,190+326.2k
ENVESTNET ASSET MANAGEMENT INC Added +324,238+324.2k

Biggest sellers

SCS Capital Management LLC Reduced -2,348,262-2.3m
AMERIPRISE FINANCIAL INC Reduced -2,240,962-2.2m
BANK OF AMERICA CORP /DE/ Reduced -731,793-731.8k
INCOME RESEARCH & MANAGEMENT Sold out -705,962-706.0k
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Reduced -617,404-617.4k
Dunhill Financial, LLC Sold out -503,149-503.1k
Calamos Wealth Management LLC Reduced -344,879-344.9k
ROYAL BANK OF CANADA Reduced -285,999-286.0k
ONE PLUS ONE WEALTH MANAGEMENT, LLC Sold out -245,276-245.3k
UBS Group AG Reduced -229,102-229.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.1m71.5k shares
JANE STREET GROUP, LLC Reduced $3.1m53.8k shares
CITADEL ADVISORS LLC Added $1.7m29.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $6.2m109.4k shares
JANE STREET GROUP, LLC Added $460.6k8.1k shares
CITADEL ADVISORS LLC New $324.1k5.7k 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 Empower Advisory Group, LLC 2.11% of their portfolio Greenwood Village, CO 13,394,10313.4m $761.6m $761.6m 2.11% Added +908.7k +908,700
2 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 9,331,2259.3m $530.6m $530.6m 0.03% Added +73.6k +73,592
3 AMERIPRISE FINANCIAL INC 0.12% of their portfolio MINNEAPOLIS, MN 8,784,4838.8m $505.4m $505.4m 0.12% Reduced -2.2m -2,240,962
4 VOYA INVESTMENT MANAGEMENT LLC 0.47% of their portfolio ATLANTA, GA 8,201,4978.2m $466.3m $466.3m 0.47% Added +212.2k +212,199
5 NEPC LLC 10.30% of their portfolio Boston, MA 6,884,1416.9m $391.4m $391.4m 10.30% Added +364.2k +364,232
6 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 6,305,2976.3m $358.5m $358.5m 0.03% Reduced -731.8k -731,793
7 Cassaday & Co Wealth Management LLC 5.97% of their portfolio MCLEAN, VA 4,554,5124.6m $259.0m $259.0m 5.97% Added +198.0k +197,956
8 Nan Shan Life Insurance Co., Ltd. 3.70% of their portfolio Taipei City, F5 3,063,5003.1m $174.2m $174.2m 3.70% Unchanged
9 Mirae Asset Global Investments Co., Ltd. 0.52% of their portfolio SEOUL, M5 2,907,5212.9m $165.3m $165.3m 0.52% Added +48.8k +48,822
10 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 2.34% of their portfolio BOSTON, MA 2,027,0182.0m $127.6m $127.6m 2.34% Reduced -617.4k -617,404
11 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 2,005,1452.0m $114.0m $114.0m 0.03% Added +324.2k +324,238
12 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,637,4591.6m $93.1m $93.1m 0.03% Reduced -7.3k -7,264
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,548,7401.5m $88.1m $88.1m 0.00% Added +708.7k +708,667
14 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 1,267,5751.3m $72.1m $72.1m 0.05% Added +16.5k +16,492
15 Corient Private Wealth LP 0.11% of their portfolio MIAMI, FL 1,213,2231.2m $69.0m $69.0m 0.11% Added +188.7k +188,694
16 Strategic Financial Services, Inc. 3.38% of their portfolio UTICA, NY 1,186,1491.2m $67.4m $67.4m 3.38% Added +11.7k +11,671
17 Hamilton Capital Partners Inc. 2.59% of their portfolio TORONTO, A6 1,101,2041.1m $62.6m $62.6m 2.59% Reduced -52.1k -52,146
18 COMERICA BANK 0.23% of their portfolio DALLAS, TX 1,058,9631.1m $60.2m $60.2m 0.23% Added +105.8k +105,808
19 Prime Capital Investment Advisors, LLC 0.75% of their portfolio OVERLAND PARK, KS 1,046,6551.0m $59.5m $59.5m 0.75% Added +109.8k +109,836
20 TRUIST FINANCIAL CORP 0.08% of their portfolio CHARLOTTE, NC 983,816983.8k $55.9m $55.9m 0.08% Added +104.7k +104,679
21 UBS Group AG 0.01% of their portfolio ZURICH, V8 866,976867.0k $49.3m $49.3m 0.01% Reduced -229.1k -229,102
22 Rainwater Charitable Foundation 30.36% of their portfolio FORT WORTH, TX 851,654851.7k $48.4m $48.4m 30.36% Unchanged
23 Forum Financial Management, LP 0.65% of their portfolio LOMBARD, IL 833,454833.5k $47.4m $47.4m 0.65% Added +621.5k +621,492
24 SCS Capital Management LLC 0.51% of their portfolio BOSTON, MA 825,848825.8k $47.0m $47.0m 0.51% Reduced -2.3m -2,348,262
25 ASSETMARK, INC 0.10% of their portfolio CONCORD, CA 807,278807.3k $45.9m $45.9m 0.10% Added +346.3k +346,348
26 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 788,984789.0k $44.9m $44.9m 0.01% Reduced -51.3k -51,267
27 Federation des caisses Desjardins du Quebec 0.17% of their portfolio LEVIS, A8 776,329776.3k $44.1m $44.1m 0.17% Added +20.0k +20,009
28 Ironwood Wealth Management, LLC. 14.41% of their portfolio CHANDLER, AZ 756,176756.2k $43.0m $43.0m 14.41% Added +65.5k +65,482
29 Harvest Portfolios Group Inc. 0.76% of their portfolio Oakville, A6 725,888725.9k $41.3m $41.3m 0.76% Reduced -65.7k -65,739
30 Focus Partners Wealth 0.07% of their portfolio ST LOUIS, MO 725,119725.1k $41.2m $41.2m 0.07% Added +23.7k +23,652
31 Barry Investment Advisors, LLC 9.47% of their portfolio NEW BEDFORD, MA 724,352724.4k $41.2m $41.2m 9.47% Added +13.6k +13,553
32 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 715,065715.1k $40.7m $40.7m 0.01% Reduced -117.5k -117,532
33 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 680,832680.8k $38.7m $38.7m 0.01% Reduced -107.3k -107,325
34 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 647,398647.4k $36.8m $36.8m 0.01% Added +91.5k +91,519
35 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 599,884599.9k $34.1m $34.1m 0.01% Reduced -108.6k -108,573
36 TIFF ADVISORY SERVICES, LLC 6.66% of their portfolio RADNOR, PA 562,361562.4k $32.0m $32.0m 6.66% Added +326.2k +326,190
37 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 1.15% of their portfolio BETHESDA, MD 550,000550.0k $31.3m $31.3m 1.15% Unchanged
38 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 529,317529.3k $30.1m $30.1m 0.02% Added +25.3k +25,282
39 MERCER GLOBAL ADVISORS INC /ADV 0.05% of their portfolio DENVER, CO 517,776517.8k $29.4m $29.4m 0.05% New
40 Wealthfront Advisers LLC 0.07% of their portfolio Palo Alto, CA 517,741517.7k $29.4m $29.4m 0.07% Added +112.6k +112,609
41 Facet Wealth, Inc. 0.56% of their portfolio WEST PALM BEACH, FL 476,322476.3k $27.1m $27.1m 0.56% Added +21.1k +21,072
42 Dunhill Financial, LLC 6.79% of their portfolio LONDON, X0 458,020458.0k $26.0m $26.0m 6.79% New
43 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.04% of their portfolio PLYMOUTH, MN 448,739448.7k $25.5m $25.5m 0.04% Reduced -5.5k -5,489
44 Tortoise Investment Management, LLC 2.16% of their portfolio WHITE PLAINS, NY 426,948426.9k $24.3m $24.3m 2.16% Reduced -12.9k -12,898
45 First Financial Bankshares Inc 0.48% of their portfolio Abilene, TX 410,388410.4k $23.3m $23.3m 0.48% Added +79.7k +79,734
46 RETIREMENT FINANCIAL SOLUTIONS, LLC 4.71% of their portfolio KNOXVILLE, TN 400,060400.1k $22.7m $22.7m 4.71% New
47 NOTTINGHAM ADVISORS, INC. 3.07% of their portfolio AMHERST, NY 388,379388.4k $22.1m $22.1m 3.07% Added +8.0k +8,036
48 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 379,500379.5k $21.6m $21.6m 0.02% Added +9.4k +9,400
49 Checchi Capital Advisers, LLC 1.45% of their portfolio BEVERLY HILLS, CA 370,069370.1k $21.0m $21.0m 1.45% Added +69.2k +69,157
50 PRINCIPAL SECURITIES, INC. 0.34% of their portfolio DES MOINES, IA 360,581360.6k $20.5m $20.5m 0.34% Added +16.9k +16,937
51 49 WEALTH MANAGEMENT, LLC 1.87% of their portfolio AUSTIN, TX 348,548348.5k $19.8m $19.8m 1.87% Added +19.1k +19,080
52 Gleason Group, Inc. 1.99% of their portfolio PROSPECT, KY 348,016348.0k $19.8m $19.8m 1.99% Added +8.4k +8,392
53 Betterment LLC 0.04% of their portfolio NEW YORK, NY 330,918330.9k $18.8m $18.8m 0.04% Added +1.1k +1,141
54 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 321,707321.7k $18.3m $18.3m 0.03% Added +241.6k +241,571
55 GenWealth Group, Inc. 3.40% of their portfolio Maplewood, NJ 321,272321.3k $18.3m $18.3m 3.40% Added +52.9k +52,890
56 Allworth Financial LP 0.08% of their portfolio FOLSOM, CA 313,963314.0k $17.9m $17.9m 0.08% Added +10.6k +10,563
57 MANNING & NAPIER ADVISORS LLC 0.23% of their portfolio Fairport, NY 309,745309.7k $17.6m $17.6m 0.23% Added +46.8k +46,755
58 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 307,839307.8k $17.5m $17.5m 0.00% Reduced -286.0k -285,999
59 Full Sail Capital, LLC 0.86% of their portfolio OKLAHOMA CITY, OK 274,853274.9k $15.6m $15.6m 0.86% Reduced -28.7k -28,702
60 HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.05% of their portfolio Los Angeles, CA 268,600268.6k $15.3m $15.3m 0.05% Reduced -12.4k -12,400
61 U.S. Capital Wealth Advisors, LLC 0.41% of their portfolio AUSTIN, TX 266,116266.1k $15.1m $15.1m 0.41% Added +2.7k +2,694
62 Wealthcare Advisory Partners LLC 0.30% of their portfolio WEST CHESTER, PA 257,091257.1k $14.6m $14.6m 0.30% Added +50.8k +50,763
63 Fort Point Capital Partners LLC 1.81% of their portfolio San Francisco, CA 250,140250.1k $14.2m $14.2m 1.81% Reduced -2.7k -2,741
64 KEYBANK NATIONAL ASSOCIATION/OH 0.05% of their portfolio BROOKLYN, OH 249,990250.0k $14.2m $14.2m 0.05% Reduced -21.1k -21,102
65 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 239,400239.4k $13.6m $13.6m 0.01% Added +184.8k +184,800
66 FINANCIAL LIFE ADVISORS 4.35% of their portfolio SAN ANTONIO, TX 238,154238.2k $13.5m $13.5m 4.35% Added +31.2k +31,241
67 AE Wealth Management LLC 0.09% of their portfolio TOPEKA, KS 235,078235.1k $13.4m $13.4m 0.09% Added +14.8k +14,780
68 NorthRock Partners, LLC 0.23% of their portfolio MINNEAPOLIS, MN 223,563223.6k $12.7m $12.7m 0.23% New
69 Tidal Investments LLC 0.05% of their portfolio Milwaukee, WI 221,111221.1k $12.6m $12.6m 0.05% New
70 Obermeyer Wealth Partners 0.59% of their portfolio ASPEN, CO 220,872220.9k $12.6m $12.6m 0.59% New
71 Peak Asset Management, LLC 2.05% of their portfolio LOUISVILLE, CO 206,095206.1k $11.7m $11.7m 2.05% Added +2.0k +2,025
72 Aurelius Family Office LLC 5.21% of their portfolio BEDFORD, NH 205,903205.9k $11.7m $11.7m 5.21% Added +13.3k +13,253
73 Vestmark Advisory Solutions, Inc. 0.22% of their portfolio Wakefield, MA 201,691201.7k $11.5m $11.5m 0.22% New
74 ELEVATION POINT WEALTH PARTNERS, LLC 0.80% of their portfolio DENVER, CO 201,691201.7k $11.5m $11.5m 0.80% Added +201.7k +201,676
75 Empowered Funds, LLC 0.11% of their portfolio NEWTOWN SQUARE, PA 191,517191.5k $10.9m $10.9m 0.11% Added +9.0k +8,961
76 Morningstar Investment Management LLC 0.40% of their portfolio CHICAGO, IL 191,515191.5k $10.9m $10.9m 0.40% Added +4.3k +4,304
77 HARBOUR INVESTMENTS, INC. 0.24% of their portfolio MADISON, WI 187,688187.7k $10.7m $10.7m 0.24% Reduced -8.1k -8,058
78 VICUS CAPITAL 0.80% of their portfolio STATE COLLEGE, PA 184,541184.5k $10.5m $10.5m 0.80% Added +19.8k +19,823
79 Beacon Pointe Advisors, LLC 0.08% of their portfolio NEWPORT BEACH, CA 174,166174.2k $9.9m $9.9m 0.08% Reduced -115.0k -114,997
80 Compass Advisory Group LLC 2.77% of their portfolio MELVILLE, NY 173,508173.5k $9.9m $9.9m 2.77% Added +28.5k +28,456
81 AmeriServ Wealth Advisors 4.94% of their portfolio Johnstown, PA 171,847171.8k $9.8m $9.8m 4.94% Added +13.0k +12,959
82 Westshore Wealth, LLC 3.20% of their portfolio NEWPORT BEACH, CA 164,951165.0k $9.4m $9.4m 3.20% Added +2.4k +2,421
83 O'Brien Wealth Partners LLC 1.26% of their portfolio Waltham, MA 164,084164.1k $9.3m $9.3m 1.26% Added +1.7k +1,670
84 OneDigital Investment Advisors LLC 0.09% of their portfolio OVERLAND PARK, KS 159,787159.8k $9.1m $9.1m 0.09% Reduced -3.0k -3,030
85 EXENCIAL WEALTH ADVISORS, LLC 0.28% of their portfolio OKLAHOMA CITY, OK 151,815151.8k $8.6m $8.6m 0.28% Reduced -16.5k -16,467
86 MATHER GROUP, LLC. 0.08% of their portfolio CHICAGO, IL 147,016147.0k $8.4m $8.4m 0.08% Added +10.6k +10,601
87 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 144,326144.3k $8.1m $8.1m 0.01% Reduced -11.3k -11,322
88 Global Retirement Partners, LLC 0.18% of their portfolio San Rafael, CA 139,991140.0k $8.0m $8.0m 0.18% Added +6.4k +6,391
89 WEBSTERROGERS FINANCIAL ADVISORS, LLC 2.37% of their portfolio FLORENCE, SC 139,159139.2k $7.9m $7.9m 2.37% Added +1.1k +1,061
90 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 135,423135.4k $7.7m $7.7m 0.02% New
91 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 133,696133.7k $7.6m $7.6m 0.01% Added +69.7k +69,685
92 Towneley Capital Management, Inc / DE 1.65% of their portfolio LAGUNA HILLS, CA 133,323133.3k $7.6m $7.6m 1.65% Added +3.4k +3,372
93 Red Tortoise LLC 3.29% of their portfolio ATLANTA, GA 131,787131.8k $7.5m $7.5m 3.29% Reduced -35.1k -35,120
94 Hennion & Walsh Asset Management, Inc. 0.27% of their portfolio Parsippany, NJ 131,279131.3k $7.5m $7.5m 0.27% Added +11.2k +11,212
95 Rinkey Investments 1.95% of their portfolio San Diego, CA 129,266129.3k $7.4m $7.4m 1.95% Added +6.8k +6,751
96 Tandem Financial, LLC 2.68% of their portfolio GREENWOOD VILLAGE, CO 126,534126.5k $7.2m $7.2m 2.68% Reduced -6.6k -6,598
97 INSIGHT 2811, INC. 3.16% of their portfolio CHICAGO, IL 124,818124.8k $7.1m $7.1m 3.16% Added +8.6k +8,604
98 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 123,757123.8k $7.0m $7.0m 0.01% Added +6.1k +6,118
99 NewEdge Wealth, LLC 0.10% of their portfolio STAMFORD, CT 123,255123.3k $7.0m $7.0m 0.10% Added +10.2k +10,229
100 First National Trust Co 0.24% of their portfolio Johnstown, PA 122,189122.2k $6.9m $6.9m 0.24% Reduced -1.8k -1,830