Vault-13

VANGUARD MUN BD FDS VTEB

TAX EXEMPT BD · ETP · CUSIP 922907746

861 institutional holders +97 vs Q3 2022
369,254,299369.3m shares reported held*
$18.4bnreported value*
135 new 333 added 263 reduced 89 sold out net bought ≈ $4.9bn (+99.0m 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 ($18.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $49.82. Options: 2 managers hold calls ($91.1k notional), 1 hold puts ($435.5k).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 764Q4 22: 861861Q3 22Q4 22
Numbers
QuarterHolders
Q3 2022764
Q4 2022861

Calls vs puts

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

CallsPuts
$0$250k$500k$750k$1mQ3 22 calls: $875.0kQ3 22 puts: $828.0kQ3 22P/C 0.95Q4 22 calls: $91.1kQ4 22 puts: $435.5kQ4 22P/C 4.78
Numbers
QuarterCallsPutsP/C
Q3 2022$875.0k$828.0k0.95
Q4 2022$91.1k$435.5k4.78

Biggest buyers

JPMORGAN CHASE & CO Added +51,877,698+51.9m
Charles Schwab Investment Advisory, Inc. Added +9,119,195+9.1m
RWA WEALTH PARTNERS, LLC Added +4,488,039+4.5m
SEI INVESTMENTS CO Added +3,162,372+3.2m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +3,121,613+3.1m
FRANKLIN RESOURCES INC New +3,040,314+3.0m
TIAA, FSB Added +2,119,374+2.1m
FMR LLC Added +2,039,645+2.0m
Hirtle & Co., LLC Added +1,921,837+1.9m
NORTHERN TRUST CORP Added +1,734,916+1.7m

Biggest sellers

Wealthfront Advisers LLC Reduced -7,451,045-7.5m
Ackerman Capital Advisors, LLC Reduced -1,539,967-1.5m
Karpus Management, Inc. Sold out -826,491-826.5k
Mosaic Advisors LLC Reduced -497,911-497.9k
LWS Wealth Advisors, Inc. Sold out -476,081-476.1k
BSW Wealth Partners Reduced -449,069-449.1k
Composition Wealth, LLC Reduced -386,816-386.8k
CX Institutional Reduced -368,817-368.8k
Sequoia Financial Advisors, LLC Reduced -352,466-352.5k
HENGEHOLD CAPITAL MANAGEMENT LLC Reduced -332,477-332.5k

Biggest calls

CITADEL ADVISORS LLC New $49.5k1.0k shares
Paladin Advisory Group, LLC Reduced $41.6k840 shares

Biggest puts

CITADEL ADVISORS LLC Added $435.5k8.8k 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, Q4 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.43% of their portfolio NEW YORK, NY 60,925,76860.9m $3.0bn $3.0bn 0.43% Added +51.9m +51,877,698
2 Wealthfront Advisers LLC 6.72% of their portfolio Palo Alto, CA 28,033,48228.0m $1.4bn $1.4bn 6.72% Reduced -7.5m -7,451,045
3 Charles Schwab Investment Advisory, Inc. 2.15% of their portfolio SAN FRANCISCO, CA 25,773,15825.8m $1.3bn $1.3bn 2.15% Added +9.1m +9,119,195
4 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 1.52% of their portfolio MILWAUKEE, WI 20,304,04420.3m $1.0bn $1.0bn 1.52% Added +3.1m +3,121,613
5 Creative Planning 1.45% of their portfolio OVERLAND PARK, KS 19,531,72619.5m $966.6m $966.6m 1.45% Added +1.0m +1,030,407
6 RAYMOND JAMES & ASSOCIATES 0.64% of their portfolio ST PETERSBURG, FL 14,070,35714.1m $696.3m $696.3m 0.64% Added +176.5k +176,510
7 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 10,646,32610.6m $526.9m $526.9m 0.06% Added +494.1k +494,118
8 UBS Group AG 0.21% of their portfolio ZURICH, V8 8,760,1928.8m $433.5m $433.5m 0.21% Added +1.5m +1,520,973
9 FMR LLC 0.04% of their portfolio BOSTON, MA 8,542,8848.5m $422.8m $422.8m 0.04% Added +2.0m +2,039,645
10 SEI INVESTMENTS CO 0.92% of their portfolio OAKS, PA 8,322,1598.3m $411.9m $411.9m 0.92% Added +3.2m +3,162,372
11 NORTHERN TRUST CORP 0.08% of their portfolio CHICAGO, IL 8,024,2448.0m $397.1m $397.1m 0.08% Added +1.7m +1,734,916
12 RWA WEALTH PARTNERS, LLC 8.44% of their portfolio BOSTON, MA 6,744,1966.7m $339.4m $339.4m 8.44% Added +4.5m +4,488,039
13 Orgel Wealth Management, LLC 12.26% of their portfolio ALTOONA, WI 6,443,6876.4m $318.9m $318.9m 12.26% Added +1.4m +1,397,824
14 ENVESTNET ASSET MANAGEMENT INC 0.15% of their portfolio Berwyn, PA 5,684,8445.7m $281.3m $281.3m 0.15% Added +1.0m +1,002,804
15 WELLS FARGO & COMPANY/MN 0.09% of their portfolio SAN FRANCISCO, CA 5,631,3685.6m $278.7m $278.7m 0.09% Added +906.0k +905,984
16 ASPIRIANT, LLC 13.60% of their portfolio San Francisco, CA 5,392,4445.4m $266.9m $266.9m 13.60% Added +734.8k +734,786
17 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 5,353,0465.4m $264.9m $264.9m 0.03% Added +1.1m +1,143,805
18 SCS Capital Management LLC 7.11% of their portfolio BOSTON, MA 4,882,9524.9m $241.7m $241.7m 7.11% Added +530.5k +530,455
19 TIAA, FSB 0.94% of their portfolio ST. LOUIS, MO 4,809,7974.8m $238.0m $238.0m 0.94% Added +2.1m +2,119,374
20 Corient Private Wealth LP 0.86% of their portfolio MIAMI, FL 4,795,8534.8m $237.3m $237.3m 0.86% First filing
21 FRANKLIN RESOURCES INC 0.08% of their portfolio San Mateo, CA 3,040,3143.0m $150.5m $150.5m 0.08% New
22 US BANCORP \DE\ 0.25% of their portfolio MINNEAPOLIS, MN 2,829,8212.8m $140.0m $140.0m 0.25% Added +1.2m +1,206,903
23 PNC Financial Services Group, Inc. 0.13% of their portfolio Pittsburgh, PA 2,693,2172.7m $133.3m $133.3m 0.13% Added +1.2m +1,202,395
24 OSAIC HOLDINGS, INC. 0.26% of their portfolio SCOTTSDALE, AZ 2,589,3892.6m $128.2m $128.2m 0.26% Added +769.8k +769,786
25 MERCER GLOBAL ADVISORS INC /ADV 0.61% of their portfolio DENVER, CO 2,457,5142.5m $121.6m $121.6m 0.61% Added +948.6k +948,578
26 Mariner, LLC 0.35% of their portfolio Overland Park, KS 2,199,8732.2m $108.9m $108.9m 0.35% Reduced -247.5k -247,504
27 JONES FINANCIAL COMPANIES LLLP 0.19% of their portfolio DES PERES, MO 2,187,8142.2m $108.3m $108.3m 0.19% Added +160.0k +160,032
28 Merriman Wealth Management, LLC 5.21% of their portfolio SEATTLE, WA 2,055,4682.1m $101.7m $101.7m 5.21% Added +1.2m +1,228,344
29 Hirtle & Co., LLC 6.07% of their portfolio WEST CONSHOHOCKEN, PA 2,000,0872.0m $99.0m $99.0m 6.07% Added +1.9m +1,921,837
30 Baird Financial Group, Inc. 0.26% of their portfolio MILWAUKEE, WI 1,982,9802.0m $98.1m $98.1m 0.26% Added +265.2k +265,228
31 LPL Financial LLC 0.08% of their portfolio FORT MILL, SC 1,955,5832.0m $96.8m $96.8m 0.08% Added +311.9k +311,948
32 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,927,8391.9m $95.4m $95.4m 0.03% Added +284.4k +284,436
33 Raymond James Financial Services Advisors, Inc. 0.16% of their portfolio ST. PETERSBURG, FL 1,612,7731.6m $79.8m $79.8m 0.16% Added +145.2k +145,178
34 Bleakley Financial Group, LLC 2.61% of their portfolio PARSIPPANY, NJ 1,475,4461.5m $73.0m $73.0m 2.61% First filing
35 First Ascent Asset Management, LLC 10.68% of their portfolio DENVER, CO 1,412,2211.4m $69.9m $69.9m 10.68% Added +68.1k +68,104
36 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 2.59% of their portfolio MINNEAPOLIS, MN 1,409,2101.4m $69.7m $69.7m 2.59% New
37 Winthrop Advisory Group LLC 11.79% of their portfolio BOSTON, MA 1,255,5541.3m $62.1m $62.1m 11.79% Added +140.2k +140,208
38 Savant Capital, LLC 1.29% of their portfolio ROCKFORD, IL 1,072,9081.1m $53.1m $53.1m 1.29% Added +17.9k +17,900
39 Cerity Partners LLC 0.67% of their portfolio NEW YORK, NY 1,041,8821.0m $102.9m $102.9m 0.67% Added +198.8k +198,812
40 REGIONS FINANCIAL CORP 0.46% of their portfolio BIRMINGHAM, AL 1,000,2511.0m $49.5m $49.5m 0.46% Reduced -75.0k -74,983
41 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 995,021995.0k $49.2m $49.2m 0.01% Added +120.8k +120,806
42 BAKER BOYER NATIONAL BANK 19.92% of their portfolio WALLA WALLA, WA 958,902958.9k $47.5m $47.5m 19.92% Added +61.5k +61,514
43 COMMONWEALTH EQUITY SERVICES, LLC 0.11% of their portfolio WALTHAM, MA 951,223951.2k $47.1m $47.1m 0.11% Added +161.1k +161,070
44 Meeder Advisory Services, Inc. 5.86% of their portfolio DUBLIN, OH 936,679936.7k $46.4m $46.4m 5.86% First filing
45 Morningstar Investment Services LLC 0.62% of their portfolio CHICAGO, IL 919,511919.5k $45.8m $45.8m 0.62% Reduced -80.4k -80,433
46 Willow Creek Wealth Management Inc. 7.24% of their portfolio Sebastopol, CA 881,703881.7k $43.6m $43.6m 7.24% Added +443.5k +443,509
47 HBK Sorce Advisory LLC 1.12% of their portfolio ERIE, PA 840,052840.1k $41.6m $41.6m 1.12% Added +833.9k +833,868
48 M&T Bank Corp 0.16% of their portfolio BUFFALO, NY 817,398817.4k $40.5m $40.5m 0.16% Added +439.5k +439,534
49 Financial Engines Advisors L.L.C. 0.11% of their portfolio SANTA CLARA, CA 788,640788.6k $39.0m $39.0m 0.11% Added +24.7k +24,656
50 CWM, LLC 0.29% of their portfolio OMAHA, NE 783,414783.4k $38.8m $38.8m 0.29% Added +11.8k +11,787
51 HT Partners LLC 12.59% of their portfolio CENTERBROOK, CT 774,341774.3k $38.3m $38.3m 12.59% Added +3.0k +3,000
52 Lutz Financial Services LLC 4.52% of their portfolio OMAHA, NE 743,457743.5k $36.8m $36.8m 4.52% Added +632.6k +632,650
53 LAZARD ASSET MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 730,355730.4k $36.1m $36.1m 0.05% New
54 Waldron Private Wealth LLC 2.14% of their portfolio BRIDGEVILLE, PA 715,749715.7k $34.5m $34.5m 2.14% Unchanged
55 West Financial Advisors, LLC 9.80% of their portfolio DES MOINES, IA 709,103709.1k $35.1m $35.1m 9.80% New
56 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 702,068702.1k $34.7m $34.7m 0.05% Added +17.9k +17,868
57 MML INVESTORS SERVICES, LLC 0.22% of their portfolio SPRINGFIELD, MA 690,105690.1k $34.2m $34.2m 0.22% Added +328.1k +328,066
58 Independent Advisor Alliance 1.84% of their portfolio CHARLOTTE, NC 675,921675.9k $33.5m $33.5m 1.84% Added +58.2k +58,224
59 Sargent Bickham Lagudis LLC 2.74% of their portfolio Boulder, CO 675,456675.5k $33.4m $33.4m 2.74% Reduced -5.6k -5,565
60 Modera Wealth Management, LLC 1.26% of their portfolio WESTWOOD, NJ 625,681625.7k $31.0m $31.0m 1.26% Added +299.4k +299,439
61 Pinnacle Financial Partners Inc 0.89% of their portfolio Nashville, TN 622,364622.4k $30.8m $30.8m 0.89% Reduced -55.2k -55,199
62 UMB Bank, n.a. 0.49% of their portfolio Kansas City, MO 621,954622.0k $30.8m $30.8m 0.49% Added +621.2k +621,204
63 Bedel Financial Consulting, Inc. 7.50% of their portfolio INDIANAPOLIS, IN 609,678609.7k $30.2m $30.2m 7.50% Added +8.0k +8,013
64 Strata Wealth Advisors, LLC 16.24% of their portfolio DALLAS, TX 591,559591.6k $29.3m $29.3m 16.24% First filing
65 Callan Capital, LLC 3.55% of their portfolio LA JOLLA, CA 580,989581.0k $28.8m $28.8m 3.55% Added +568.8k +568,765
66 Wealthspire Advisors, LLC 0.51% of their portfolio NEW YORK, NY 562,772562.8k $27.9m $27.9m 0.51% Added +24.7k +24,655
67 Avidian Wealth Enterprises, LLC 1.75% of their portfolio Houston, TX 540,986541.0k $26.8m $26.8m 1.75% Reduced -63.0k -62,965
68 THOMPSON SIEGEL & WALMSLEY LLC 0.43% of their portfolio RICHMOND, VA 536,634536.6k $26.6m $26.6m 0.43% Added +113.2k +113,215
69 NISA INVESTMENT ADVISORS, LLC 0.21% of their portfolio ST. LOUIS, MO 526,200526.2k $26.0m $26.0m 0.21% New
70 BSW Wealth Partners 5.56% of their portfolio BOULDER, CO 522,823522.8k $25.9m $25.9m 5.56% Reduced -449.1k -449,069
71 Mosaic Advisors LLC 21.22% of their portfolio HOUSTON, TX 505,052505.1k $25.0m $25.0m 21.22% Reduced -497.9k -497,911
72 Simplicity Solutions, LLC 3.37% of their portfolio MINNEAPOLIS, MN 500,747500.7k $24.8m $24.8m 3.37% Added +182.9k +182,914
73 Passive Capital Management, LLC. 11.21% of their portfolio BALTIMORE, MD 497,936497.9k $24.6m $24.6m 11.21% Reduced -197.4k -197,410
74 JFS WEALTH ADVISORS, LLC 2.34% of their portfolio HERMITAGE, PA 483,649483.6k $23.9m $23.9m 2.34% Reduced -54.7k -54,660
75 Private Ocean, LLC 2.93% of their portfolio SAN RAFAEL, CA 477,120477.1k $23.6m $23.6m 2.93% Reduced -137.1k -137,072
76 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 473,494473.5k $23.4m $23.4m 0.04% Reduced -20.4k -20,437
77 Sequoia Financial Advisors, LLC 0.57% of their portfolio Akron, OH 470,066470.1k $23.3m $23.3m 0.57% Reduced -352.5k -352,466
78 Perigon Wealth Management, LLC 0.72% of their portfolio SAN FRANCISCO, CA 467,732467.7k $23.1m $23.1m 0.72% Added +264.6k +264,574
79 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 464,306464.3k $23.0m $23.0m 0.01% Reduced -282.3k -282,262
80 Full Sail Capital, LLC 2.11% of their portfolio OKLAHOMA CITY, OK 450,311450.3k $22.3m $22.3m 2.11% Reduced -157.7k -157,728
81 Manning & Napier Group, LLC 0.27% of their portfolio Fairport, NY 449,995450.0k $22.3m $22.3m 0.27% Added +42.6k +42,649
82 EP Wealth Advisors, LLC 0.39% of their portfolio TORRANCE, CA 437,800437.8k $21.7m $21.7m 0.39% Added +14.4k +14,391
83 RTD Financial Advisors, Inc. 3.49% of their portfolio Philadelphia, PA 432,683432.7k $21.4m $21.4m 3.49% New
84 Cetera Investment Advisers 0.20% of their portfolio SCHAUMBURG, IL 432,223432.2k $21.4m $21.4m 0.20% Added +366.3k +366,263
85 BlackRock Inc. 0.00% of their portfolio New York, NY 429,504429.5k $21.3m $21.3m 0.00% Reduced -153.4k -153,398
86 MATHER GROUP, LLC. 0.40% of their portfolio CHICAGO, IL 422,748422.7k $20.9m $20.9m 0.40% Reduced -4.0k -4,010
87 OneDigital Investment Advisors LLC 0.60% of their portfolio OVERLAND PARK, KS 417,343417.3k $20.7m $20.7m 0.60% Added +336.6k +336,585
88 Integrated Advisors Network LLC 1.32% of their portfolio DALLAS, TX 412,919412.9k $20.4m $20.4m 1.32% New
89 Leonard Rickey Investment Advisors P.L.L.C. 8.63% of their portfolio YAKIMA, WA 412,218412.2k $20.4m $20.4m 8.63% Reduced -97.9k -97,932
90 Heritage Investment Group, Inc. 6.44% of their portfolio POMPANO BEACH, FL 410,340410.3k $20.3m $20.3m 6.44% Added +293.8k +293,781
91 Windsor Wealth Management, Inc. 4.20% of their portfolio INDIANAPOLIS, IN 406,104406.1k $20.3m $20.3m 4.20% Reduced -65.4k -65,428
92 HENGEHOLD CAPITAL MANAGEMENT LLC 2.60% of their portfolio CINCINNATI, OH 378,440378.4k $18.7m $18.7m 2.60% Reduced -332.5k -332,477
93 Bragg Financial Advisors, Inc 1.10% of their portfolio CHARLOTTE, NC 366,608366.6k $18.1m $18.1m 1.10% Reduced -360 -360
94 BARON SILVER STEVENS FINANCIAL ADVISORS, LLC 4.43% of their portfolio Boca Raton, FL 363,574363.6k $18.0m $18.0m 4.43% Added +121.5k +121,511
95 Rockwood Wealth Management, LLC 4.15% of their portfolio New Hope, PA 358,922358.9k $17.8m $17.8m 4.15% Added +69.1k +69,108
96 BANK OF HAWAII 1.07% of their portfolio HONOLULU, HI 354,773354.8k $17.6m $17.6m 1.07% Reduced -16.5k -16,540
97 Crestwood Advisors Group, LLC 0.60% of their portfolio BOSTON, MA 353,877353.9k $17.5m $17.5m 0.60% Added +13.4k +13,370
98 Fort Point Capital Partners LLC 3.06% of their portfolio San Francisco, CA 351,239351.2k $17.4m $17.4m 3.06% Added +94.8k +94,793
99 Cetera Advisor Networks LLC 0.14% of their portfolio EL SEGUNDO, CA 347,647347.6k $17.2m $17.2m 0.14% Added +287.4k +287,399
100 Unison Advisors LLC 2.09% of their portfolio PROVIDENCE, RI 323,916323.9k $16.0m $16.0m 2.09% Added +313.8k +313,838