Vault-13

VANGUARD SCOTTSDALE FDS VGLT

LONG TERM TREAS · ETP · CUSIP 92206C847

448 institutional holders +46 vs Q3 2025
118,305,237118.3m shares reported held*
$6.6bnreported value*
59 new 188 added 123 reduced 36 sold out net bought ≈ $311.3m (+5.4m 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 ($20.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $56.19. Options: 3 managers hold calls ($7.6m notional), 3 hold puts ($2.8m).

Trends to Q4 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: 402Q4 25: 448448Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025448

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 24: 237 bought or addedQ1 24: 146 cut or sold outQ2 24: 218 bought or addedQ2 24: 163 cut or sold outQ2 24Q3 24: 244 bought or addedQ3 24: 156 cut or sold outQ4 24: 207 bought or addedQ4 24: 202 cut or sold outQ4 24Q1 25: 217 bought or addedQ1 25: 197 cut or sold outQ2 25: 223 bought or addedQ2 25: 191 cut or sold outQ2 25Q3 25: 209 bought or addedQ3 25: 193 cut or sold outQ4 25: 247 bought or addedQ4 25: 159 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024237146
Q2 2024218163
Q3 2024244156
Q4 2024207202
Q1 2025217197
Q2 2025223191
Q3 2025209193
Q4 2025247159

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ1 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 0.80Q4 25 calls: $7.6mQ4 25 puts: $2.8mQ4 25P/C 0.36
Numbers
QuarterCallsPutsP/C
Q1 2025$22.3m$3.8m0.17
Q2 2025$9.1m$5.0m0.55
Q3 2025$8.8m$7.0m0.80
Q4 2025$7.6m$2.8m0.36

Biggest buyers

MORGAN STANLEY Added +1,562,796+1.6m
Corient Private Wealth LP Added +1,424,930+1.4m
Empower Advisory Group, LLC Added +1,017,760+1.0m
NEPC LLC Added +878,866+878.9k
BANK OF AMERICA CORP /DE/ Added +862,922+862.9k
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Added +483,738+483.7k
LPL Financial LLC Added +460,456+460.5k
Rockefeller Capital Management L.P. Added +453,023+453.0k
UBS Group AG Added +367,090+367.1k
ENVESTNET ASSET MANAGEMENT INC Added +293,299+293.3k

Biggest sellers

AMERIPRISE FINANCIAL INC Reduced -1,989,130-2.0m
JPMORGAN CHASE & CO Reduced -951,795-951.8k
Fisher Asset Management, LLC Reduced -368,835-368.8k
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC Sold out -268,600-268.6k
Mirae Asset Global Investments Co., Ltd. Reduced -225,258-225.3k
Tidal Investments LLC Sold out -221,111-221.1k
Fort Point Capital Partners LLC Reduced -191,141-191.1k
NATIONAL BANK OF CANADA /FI/ Reduced -156,400-156.4k
Harvest Portfolios Group Inc. Reduced -142,980-143.0k
AmeriServ Wealth Advisors Reduced -105,757-105.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $5.0m90.1k shares
CITADEL ADVISORS LLC Reduced $1.3m23.5k shares
JANE STREET GROUP, LLC Reduced $1.3m22.9k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.2m22.4k shares
JANE STREET GROUP, LLC Added $909.5k16.3k shares
CITADEL ADVISORS LLC Added $597.1k10.7k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Empower Advisory Group, LLC 2.17% of their portfolio Greenwood Village, CO 14,411,86314.4m $804.2m $804.2m 2.17% Added +1.0m +1,017,760
2 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 10,894,02110.9m $607.9m $607.9m 0.04% Added +1.6m +1,562,796
3 VOYA INVESTMENT MANAGEMENT LLC 0.47% of their portfolio ATLANTA, GA 8,486,1848.5m $473.5m $473.5m 0.47% Added +284.7k +284,687
4 NEPC LLC 9.23% of their portfolio Boston, MA 7,763,0077.8m $433.2m $433.2m 9.23% Added +878.9k +878,866
5 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 7,168,2197.2m $400.0m $400.0m 0.03% Added +862.9k +862,922
6 AMERIPRISE FINANCIAL INC 0.09% of their portfolio MINNEAPOLIS, MN 6,795,3536.8m $379.0m $379.0m 0.09% Reduced -2.0m -1,989,130
7 Cassaday & Co Wealth Management LLC 5.55% of their portfolio MCLEAN, VA 4,720,3614.7m $263.4m $263.4m 5.55% Added +165.8k +165,849
8 Nan Shan Life Insurance Co., Ltd. 5.26% of their portfolio Taipei City, F5 3,063,5003.1m $170.9m $170.9m 5.26% Unchanged
9 Mirae Asset Global Investments Co., Ltd. 0.42% of their portfolio SEOUL, M5 2,682,2632.7m $149.7m $149.7m 0.42% Reduced -225.3k -225,258
10 Corient Private Wealth LP 0.10% of their portfolio MIAMI, FL 2,638,1532.6m $145.1m $145.1m 0.10% Added +1.4m +1,424,930
11 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 2.29% of their portfolio BOSTON, MA 2,510,7562.5m $140.1m $140.1m 2.29% Added +483.7k +483,738
12 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 2,298,4442.3m $128.3m $128.3m 0.04% Added +293.3k +293,299
13 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 2,097,9152.1m $117.1m $117.1m 0.03% Added +460.5k +460,456
14 Strategic Financial Services, Inc. 3.28% of their portfolio UTICA, NY 1,273,3531.3m $71.2m $71.2m 3.28% Added +87.2k +87,204
15 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,234,0661.2m $68.9m $68.9m 0.01% Added +367.1k +367,090
16 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 1,218,7701.2m $68.0m $68.0m 0.05% Reduced -48.8k -48,805
17 COMERICA BANK 0.27% of their portfolio DALLAS, TX 1,195,1871.2m $66.7m $66.7m 0.27% Added +136.2k +136,224
18 Hamilton Capital Partners Inc. 2.33% of their portfolio TORONTO, A6 1,135,1211.1m $63.3m $63.3m 2.33% Added +33.9k +33,917
19 Prime Capital Investment Advisors, LLC 0.71% of their portfolio OVERLAND PARK, KS 1,044,2781.0m $58.3m $58.3m 0.71% Reduced -2.4k -2,377
20 TRUIST FINANCIAL CORP 0.08% of their portfolio CHARLOTTE, NC 1,039,9251.0m $58.0m $58.0m 0.08% Added +56.1k +56,109
21 SCS Capital Management LLC 0.53% of their portfolio BOSTON, MA 894,920894.9k $49.9m $49.9m 0.53% Added +69.1k +69,072
22 Rainwater Charitable Foundation 29.19% of their portfolio FORT WORTH, TX 886,452886.5k $49.5m $49.5m 29.19% Added +34.8k +34,798
23 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 795,447795.4k $44.4m $44.4m 0.01% Added +6.5k +6,463
24 Ironwood Wealth Management, LLC. 12.97% of their portfolio CHANDLER, AZ 790,691790.7k $44.1m $44.1m 12.97% Added +34.5k +34,515
25 ASSETMARK, INC 0.09% of their portfolio CONCORD, CA 787,873787.9k $44.0m $44.0m 0.09% Reduced -19.4k -19,405
26 Federation des caisses Desjardins du Quebec 0.17% of their portfolio LEVIS, A8 778,838778.8k $43.5m $43.5m 0.17% Added +2.5k +2,509
27 Forum Financial Management, LP 0.54% of their portfolio LOMBARD, IL 743,010743.0k $41.5m $41.5m 0.54% Reduced -90.4k -90,444
28 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 738,080738.1k $41.2m $41.2m 0.01% Added +90.7k +90,682
29 Barry Investment Advisors, LLC 8.91% of their portfolio NEW BEDFORD, MA 717,499717.5k $40.0m $40.0m 8.91% Reduced -6.9k -6,853
30 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 716,063716.1k $40.0m $40.0m 0.01% Added +35.2k +35,231
31 Focus Partners Wealth 0.05% of their portfolio ST LOUIS, MO 714,454714.5k $39.9m $39.9m 0.05% Reduced -10.7k -10,665
32 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 699,465699.5k $39.0m $39.0m 0.01% Reduced -15.6k -15,600
33 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 596,945596.9k $33.3m $33.3m 0.00% Reduced -951.8k -951,795
34 Harvest Portfolios Group Inc. 0.57% of their portfolio Oakville, A6 582,908582.9k $32.5m $32.5m 0.57% Reduced -143.0k -142,980
35 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 571,084571.1k $31.9m $31.9m 0.02% Added +41.8k +41,767
36 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 1.06% of their portfolio BETHESDA, MD 570,000570.0k $31.8m $31.8m 1.06% Added +20.0k +20,000
37 Facet Wealth, Inc. 0.55% of their portfolio WEST PALM BEACH, FL 554,190554.2k $31.0m $31.0m 0.55% Added +77.9k +77,868
38 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.04% of their portfolio PLYMOUTH, MN 549,181549.2k $30.7m $30.7m 0.04% Added +100.4k +100,442
39 Dunhill Financial, LLC 7.66% of their portfolio LONDON, X0 548,133548.1k $31.3m $31.3m 7.66% Added +90.1k +90,113
40 TIFF ADVISORY SERVICES, LLC 5.15% of their portfolio RADNOR, PA 535,858535.9k $29.9m $29.9m 5.15% Reduced -26.5k -26,503
41 MERCER GLOBAL ADVISORS INC /ADV 0.04% of their portfolio DENVER, CO 494,909494.9k $27.7m $27.7m 0.04% Reduced -22.9k -22,867
42 Wealthfront Advisers LLC 0.06% of their portfolio Palo Alto, CA 485,671485.7k $27.1m $27.1m 0.06% Reduced -32.1k -32,070
43 MANNING & NAPIER ADVISORS LLC 0.35% of their portfolio Fairport, NY 475,368475.4k $26.7m $26.7m 0.35% Added +165.6k +165,623
44 Rockefeller Capital Management L.P. 0.05% of their portfolio NEW YORK, NY 472,822472.8k $26.4m $26.4m 0.05% Added +453.0k +453,023
45 Tortoise Investment Management, LLC 2.15% of their portfolio WHITE PLAINS, NY 438,668438.7k $24.5m $24.5m 2.15% Added +11.7k +11,720
46 First Financial Bankshares Inc 0.47% of their portfolio Abilene, TX 415,857415.9k $23.2m $23.2m 0.47% Added +5.5k +5,469
47 Checchi Capital Advisers, LLC 1.55% of their portfolio BEVERLY HILLS, CA 408,943408.9k $22.8m $22.8m 1.55% Added +38.9k +38,874
48 PRINCIPAL SECURITIES, INC. 0.33% of their portfolio DES MOINES, IA 379,952380.0k $21.2m $21.2m 0.33% Added +19.4k +19,371
49 49 WEALTH MANAGEMENT, LLC 1.64% of their portfolio AUSTIN, TX 360,513360.5k $20.1m $20.1m 1.64% Added +12.0k +11,965
50 NOTTINGHAM ADVISORS, INC. 2.76% of their portfolio AMHERST, NY 354,217354.2k $19.8m $19.8m 2.76% Reduced -34.2k -34,162
51 Gleason Group, Inc. 1.93% of their portfolio PROSPECT, KY 353,185353.2k $19.7m $19.7m 1.93% Added +5.2k +5,169
52 GenWealth Group, Inc. 3.36% of their portfolio Maplewood, NJ 353,013353.0k $19.7m $19.7m 3.36% Added +31.7k +31,741
53 Betterment LLC 0.04% of their portfolio NEW YORK, NY 336,442336.4k $18.8m $18.8m 0.04% Added +5.5k +5,524
54 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 330,834330.8k $18.5m $18.5m 0.03% Added +9.1k +9,127
55 RETIREMENT FINANCIAL SOLUTIONS, LLC 5.15% of their portfolio KNOXVILLE, TN 315,441315.4k $17.6m $17.6m 5.15% Reduced -84.6k -84,619
56 Allworth Financial LP 0.07% of their portfolio FOLSOM, CA 314,405314.4k $17.5m $17.5m 0.07% Added +442 +442
57 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 285,355285.4k $15.9m $15.9m 0.00% Reduced -22.5k -22,484
58 FINANCIAL LIFE ADVISORS 4.80% of their portfolio SAN ANTONIO, TX 279,169279.2k $15.6m $15.6m 4.80% Added +41.0k +41,015
59 WLTH Capital Management, LLC 12.27% of their portfolio CHANDLER, AZ 277,498277.5k $15.9m $15.9m 12.27% First filing
60 Wealthcare Advisory Partners LLC 0.29% of their portfolio WEST CHESTER, PA 268,447268.4k $15.0m $15.0m 0.29% Added +11.4k +11,356
61 HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.04% of their portfolio Los Angeles, CA 264,300264.3k $14.7m $14.7m 0.04% New
62 U.S. Capital Wealth Advisors, LLC 0.38% of their portfolio AUSTIN, TX 263,104263.1k $14.7m $14.7m 0.38% Reduced -3.0k -3,012
63 KEYBANK NATIONAL ASSOCIATION/OH 0.05% of their portfolio BROOKLYN, OH 258,799258.8k $14.4m $14.4m 0.05% Added +8.8k +8,809
64 Obermeyer Wealth Partners 0.65% of their portfolio ASPEN, CO 253,496253.5k $14.1m $14.1m 0.65% Added +32.6k +32,624
65 AE Wealth Management LLC 0.08% of their portfolio TOPEKA, KS 248,005248.0k $13.8m $13.8m 0.08% Added +12.9k +12,927
66 NorthRock Partners, LLC 0.22% of their portfolio MINNEAPOLIS, MN 233,126233.1k $13.0m $13.0m 0.22% Added +9.6k +9,563
67 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 231,049231.0k $12.9m $12.9m 0.00% Reduced -368.8k -368,835
68 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 225,900225.9k $12.6m $12.6m 0.01% Reduced -13.5k -13,500
69 Deane Retirement Strategies, Inc. 5.14% of their portfolio NEW ORLEANS, LA 223,976224.0k $12.4m $12.4m 5.14% New
70 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 223,100223.1k $12.4m $12.4m 0.01% Reduced -156.4k -156,400
71 Aurelius Family Office LLC 5.09% of their portfolio BEDFORD, NH 211,619211.6k $11.8m $11.8m 5.09% Added +5.7k +5,716
72 Peak Asset Management, LLC 1.96% of their portfolio LOUISVILLE, CO 206,083206.1k $11.5m $11.5m 1.96% Reduced -12 -12
73 HARBOUR INVESTMENTS, INC. 0.22% of their portfolio MADISON, WI 194,388194.4k $10.8m $10.8m 0.22% Added +6.7k +6,700
74 ELEVATION POINT WEALTH PARTNERS, LLC 0.52% of their portfolio DENVER, CO 193,340193.3k $10.8m $10.8m 0.52% Reduced -8.4k -8,351
75 Vestmark Advisory Solutions, Inc. 0.15% of their portfolio Wakefield, MA 193,339193.3k $10.8m $10.8m 0.15% Reduced -8.4k -8,352
76 O'Brien Wealth Partners LLC 1.41% of their portfolio Waltham, MA 191,387191.4k $10.7m $10.7m 1.41% Added +27.3k +27,303
77 VICUS CAPITAL 0.77% of their portfolio STATE COLLEGE, PA 184,531184.5k $10.3m $10.3m 0.77% Reduced -10 -10
78 Morningstar Investment Management LLC 0.60% of their portfolio CHICAGO, IL 181,237181.2k $10.1m $10.1m 0.60% Reduced -10.3k -10,278
79 Professional Financial Management, Inc. 11.05% of their portfolio APPLETON, WI 174,617174.6k $9.7m $9.7m 11.05% First filing
80 Beacon Pointe Advisors, LLC 0.07% of their portfolio NEWPORT BEACH, CA 174,485174.5k $9.7m $9.7m 0.07% Added +319 +319
81 Westshore Wealth, LLC 3.17% of their portfolio NEWPORT BEACH, CA 171,731171.7k $9.6m $9.6m 3.17% Added +6.8k +6,780
82 Compass Advisory Group LLC 2.59% of their portfolio MELVILLE, NY 171,616171.6k $9.6m $9.6m 2.59% Reduced -1.9k -1,892
83 Tandem Financial, LLC 10.26% of their portfolio GREENWOOD VILLAGE, CO 153,416153.4k $8.5m $8.5m 10.26% Added +26.9k +26,882
84 Vident Advisory, LLC 0.08% of their portfolio Alpharetta, GA 152,072152.1k $8.5m $8.5m 0.08% Added +102.7k +102,703
85 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 150,237150.2k $8.4m $8.4m 0.02% Added +64.6k +64,603
86 Global Retirement Partners, LLC 0.15% of their portfolio San Rafael, CA 147,995148.0k $8.3m $8.3m 0.15% Added +8.0k +8,004
87 Red Tortoise LLC 3.51% of their portfolio ATLANTA, GA 146,470146.5k $8.2m $8.2m 3.51% Added +14.7k +14,683
88 WEBSTERROGERS FINANCIAL ADVISORS, LLC 2.33% of their portfolio FLORENCE, SC 143,852143.9k $8.0m $8.0m 2.33% Added +4.7k +4,693
89 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 142,040142.0k $7.9m $7.9m 0.01% Added +8.3k +8,344
90 EXENCIAL WEALTH ADVISORS, LLC 0.25% of their portfolio OKLAHOMA CITY, OK 141,449141.4k $7.9m $7.9m 0.25% Reduced -10.4k -10,366
91 MATHER GROUP, LLC. 0.08% of their portfolio CHICAGO, IL 139,997140.0k $7.8m $7.8m 0.08% Reduced -7.0k -7,019
92 Hennion & Walsh Asset Management, Inc. 0.27% of their portfolio Parsippany, NJ 137,708137.7k $7.7m $7.7m 0.27% Added +6.4k +6,429
93 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 137,457137.5k $7.7m $7.7m 0.01% Added +13.7k +13,700
94 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 137,282137.3k $7.7m $7.7m 0.02% Added +1.9k +1,859
95 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 136,157136.2k $7.6m $7.6m 0.01% Reduced -8.2k -8,169
96 Empowered Funds, LLC 0.13% of their portfolio NEWTOWN SQUARE, PA 135,646135.6k $7.6m $7.6m 0.13% Reduced -55.9k -55,871
97 Towneley Capital Management, Inc / DE 1.59% of their portfolio LAGUNA HILLS, CA 134,733134.7k $7.5m $7.5m 1.59% Added +1.4k +1,410
98 COURIER CAPITAL LLC 0.41% of their portfolio BUFFALO, NY 131,332131.3k $7.3m $7.3m 0.41% Added +11.7k +11,666
99 NewEdge Wealth, LLC 0.08% of their portfolio STAMFORD, CT 129,304129.3k $7.2m $7.2m 0.08% Added +6.0k +6,049
100 INSIGHT 2811, INC. 3.17% of their portfolio CHICAGO, IL 128,648128.6k $7.2m $7.2m 3.17% Added +3.8k +3,830