Vault-13

VANGUARD INDEX FDS VOE

MCAP VL IDXVIP · ETP · CUSIP 922908512

1,126 institutional holders +26 vs Q1 2025
69,847,53069.8m shares reported held*
$11.4bnreported value*
73 new 365 added 388 reduced 55 sold out net bought ≈ $595.0m (+3.6m 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 ($16.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $162.61. Options: 3 managers hold calls ($6.4m notional), 3 hold puts ($1.6m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 826Q4 22: 917Q1 23: 908Q2 23: 913Q3 23: 898Q4 23: 975Q1 24: 983Q2 24: 987Q3 24: 1,035Q4 24: 1,115Q1 25: 1,100Q2 25: 1,1261,126Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022826
Q4 2022917
Q1 2023908
Q2 2023913
Q3 2023898
Q4 2023975
Q1 2024983
Q2 2024987
Q3 20241,035
Q4 20241,115
Q1 20251,100
Q2 20251,126

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q3 23: 401 bought or addedQ3 23: 371 cut or sold outQ4 23: 403 bought or addedQ4 23: 381 cut or sold outQ4 23Q1 24: 438 bought or addedQ1 24: 418 cut or sold outQ2 24: 385 bought or addedQ2 24: 427 cut or sold outQ2 24Q3 24: 449 bought or addedQ3 24: 390 cut or sold outQ4 24: 491 bought or addedQ4 24: 355 cut or sold outQ4 24Q1 25: 490 bought or addedQ1 25: 439 cut or sold outQ2 25: 438 bought or addedQ2 25: 443 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023401371
Q4 2023403381
Q1 2024438418
Q2 2024385427
Q3 2024449390
Q4 2024491355
Q1 2025490439
Q2 2025438443

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ3 24 calls: $4.7mQ3 24 puts: $301.8kQ3 24P/C 0.06Q4 24 calls: $4.1mQ4 24 puts: $258.8kQ4 24P/C 0.06Q1 25 calls: $6.8mQ1 25 puts: $449.8kQ1 25P/C 0.07Q2 25 calls: $6.4mQ2 25 puts: $1.6mQ2 25P/C 0.25
Numbers
QuarterCallsPutsP/C
Q3 2024$4.7m$301.8k0.06
Q4 2024$4.1m$258.8k0.06
Q1 2025$6.8m$449.8k0.07
Q2 2025$6.4m$1.6m0.25

Biggest buyers

ROYAL BANK OF CANADA Added +2,209,268+2.2m
Rockefeller Capital Management L.P. Added +427,334+427.3k
OSAIC HOLDINGS, INC. Added +363,254+363.3k
Focus Partners Wealth Added +329,597+329.6k
ASSETMARK, INC Added +161,894+161.9k
EP Wealth Advisors, LLC Added +159,488+159.5k
WELLS FARGO & COMPANY/MN Added +120,852+120.9k
STEPHENS GROUP ASSET MANAGEMENT, LLC Added +98,460+98.5k
FIRST AMERICAN TRUST, FSB Added +86,625+86.6k
PICTON MAHONEY ASSET MANAGEMENT New +72,165+72.2k

Biggest sellers

ENVESTNET ASSET MANAGEMENT INC Reduced -313,200-313.2k
WoodTrust Financial Corp Sold out -176,059-176.1k
Betterment LLC Reduced -158,460-158.5k
World Investment Advisors Reduced -121,238-121.2k
Penserra Capital Management LLC Sold out -99,790-99.8k
PNC Financial Services Group, Inc. Reduced -95,385-95.4k
Ellevest, Inc. Reduced -93,424-93.4k
Roberts Financial Services LLC Reduced -85,285-85.3k
Christopher J. Hasenberg, Inc Sold out -82,604-82.6k
Geneos Wealth Management Inc. Reduced -70,222-70.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.4m26.8k shares
CITADEL ADVISORS LLC Added $1.6m10.0k shares
Belvedere Trading LLC Unchanged $328.9k2.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $822.3k5.0k shares
JANE STREET GROUP, LLC New $542.7k3.3k shares
CITADEL ADVISORS LLC Unchanged $213.8k1.3k 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 ROYAL BANK OF CANADA 0.09% of their portfolio TORONTO, A6 5,472,0645.5m $899.9m $899.9m 0.09% Added +2.2m +2,209,268
2 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 4,610,4614.6m $758.2m $758.2m 0.05% Added +36.2k +36,189
3 ASSETMARK, INC 1.66% of their portfolio CONCORD, CA 4,264,9484.3m $701.4m $701.4m 1.66% Added +161.9k +161,894
4 Betterment LLC 1.45% of their portfolio NEW YORK, NY 4,133,4644.1m $679.8m $679.8m 1.45% Reduced -158.5k -158,460
5 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 3,057,1393.1m $502.8m $502.8m 0.04% Reduced -23.1k -23,065
6 WELLS FARGO & COMPANY/MN 0.09% of their portfolio SAN FRANCISCO, CA 2,579,1522.6m $424.2m $424.2m 0.09% Added +120.9k +120,852
7 JONES FINANCIAL COMPANIES LLLP 0.30% of their portfolio DES PERES, MO 2,412,1592.4m $396.8m $396.8m 0.30% Reduced -41.9k -41,867
8 EP Wealth Advisors, LLC 1.81% of their portfolio TORRANCE, CA 1,674,9331.7m $275.5m $275.5m 1.81% Added +159.5k +159,488
9 TIAA TRUST, NATIONAL ASSOCIATION 0.72% of their portfolio CHARLOTTE, NC 1,674,3371.7m $275.4m $275.4m 0.72% Reduced -35.7k -35,701
10 PNC Financial Services Group, Inc. 0.16% of their portfolio Pittsburgh, PA 1,463,6831.5m $240.7m $240.7m 0.16% Reduced -95.4k -95,385
11 UBS Group AG 0.05% of their portfolio ZURICH, V8 1,456,3861.5m $239.5m $239.5m 0.05% Reduced -1.0k -1,009
12 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 1,197,3971.2m $196.9m $196.9m 0.06% Reduced -313.2k -313,200
13 STEPHENS GROUP ASSET MANAGEMENT, LLC 14.08% of their portfolio LITTLE ROCK, AR 1,190,3121.2m $195.8m $195.8m 14.08% Added +98.5k +98,460
14 LPL Financial LLC 0.06% of their portfolio FORT MILL, SC 1,063,9621.1m $175.0m $175.0m 0.06% Added +37.3k +37,337
15 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.12% of their portfolio MILWAUKEE, WI 1,013,1881.0m $166.6m $166.6m 0.12% Added +46.0k +46,042
16 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 984,816984.8k $161.8m $161.8m 0.04% Added +56.4k +56,426
17 Rockefeller Capital Management L.P. 0.18% of their portfolio NEW YORK, NY 959,276959.3k $157.8m $157.8m 0.18% Added +427.3k +427,334
18 FMR LLC 0.01% of their portfolio BOSTON, MA 883,771883.8k $145.3m $145.3m 0.01% Added +11.5k +11,521
19 MONETA GROUP INVESTMENT ADVISORS LLC 1.71% of their portfolio ST LOUIS, MO 873,129873.1k $143.6m $143.6m 1.71% Added +49.2k +49,225
20 Orgel Wealth Management, LLC 3.15% of their portfolio ALTOONA, WI 795,512795.5k $130.8m $130.8m 3.15% Added +54.3k +54,333
21 Wellspring Financial Advisors, LLC 0.13% of their portfolio CLEVELAND, OH 786,332786.3k $1.3m $1.3m 0.13% Reduced -617 -617
22 OSAIC HOLDINGS, INC. 0.20% of their portfolio SCOTTSDALE, AZ 676,811676.8k $110.3m $110.3m 0.20% Added +363.3k +363,254
23 Focus Partners Wealth 0.24% of their portfolio ST LOUIS, MO 667,416667.4k $109.8m $109.8m 0.24% Added +329.6k +329,597
24 STIFEL FINANCIAL CORP 0.10% of their portfolio ST. LOUIS, MO 644,364644.4k $106.0m $106.0m 0.10% Added +39.5k +39,467
25 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 624,697624.7k $102.7m $102.7m 0.04% Added +18.0k +17,970
26 Waverly Advisors, LLC 1.06% of their portfolio BIRMINGHAM, AL 588,184588.2k $96.7m $96.7m 1.06% Reduced -23.9k -23,892
27 Mariner, LLC 0.14% of their portfolio Overland Park, KS 587,936587.9k $96.7m $96.7m 0.14% Added +21.4k +21,372
28 Avior Wealth Management, LLC 3.08% of their portfolio OMAHA, NE 541,297541.3k $89.0m $89.0m 3.08% Added +3.4k +3,361
29 SYM FINANCIAL Corp 9.73% of their portfolio WINONA LAKE, IN 528,419528.4k $86.9m $86.9m 9.73% Added +8.6k +8,640
30 US BANCORP \DE\ 0.10% of their portfolio MINNEAPOLIS, MN 462,974463.0k $76.2m $76.2m 0.10% Added +46.8k +46,772
31 COMMONWEALTH EQUITY SERVICES, LLC 0.10% of their portfolio WALTHAM, MA 459,593459.6k $75.6m $75.6m 0.10% Reduced -45.7k -45,740
32 Creative Planning 0.06% of their portfolio OVERLAND PARK, KS 451,331451.3k $74.2m $74.2m 0.06% Added +3.5k +3,495
33 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 385,961386.0k $63.5m $63.5m 0.00% Reduced -10.0k -9,966
34 TRUIST FINANCIAL CORP 0.09% of their portfolio CHARLOTTE, NC 373,247373.2k $61.4m $61.4m 0.09% Reduced -1.5k -1,541
35 Rodgers & Associates, LTD 6.47% of their portfolio Lancaster, PA 358,122358.1k $58.9m $58.9m 6.47% Added +18.2k +18,163
36 HighTower Advisors, LLC 0.07% of their portfolio CHICAGO, IL 323,043323.0k $53.1m $53.1m 0.07% Added +41.0k +41,027
37 McAdam, LLC 2.79% of their portfolio Philadelphia, PA 309,883309.9k $51.0m $51.0m 2.79% Added +14.5k +14,510
38 Cetera Investment Advisers 0.08% of their portfolio SCHAUMBURG, IL 290,447290.4k $47.8m $47.8m 0.08% Added +24.7k +24,691
39 Equitable Holdings, Inc. 0.39% of their portfolio NEW YORK, NY 287,182287.2k $47.2m $47.2m 0.39% Added +16.3k +16,261
40 INSPIRION WEALTH ADVISORS, LLC 6.25% of their portfolio LIBERTYVILLE, IL 287,130287.1k $47.2m $47.2m 6.25% Reduced -2.5k -2,503
41 Private Advisor Group, LLC 0.24% of their portfolio MORRISTOWN, NJ 275,680275.7k $45.3m $45.3m 0.24% Added +9.4k +9,398
42 Trust Co 4.66% of their portfolio MANHATTAN, KS 250,916250.9k $41.3m $41.3m 4.66% Added +5.5k +5,483
43 1832 Asset Management L.P. 0.07% of their portfolio TORONTO, A6 248,134248.1k $40.8m $40.8m 0.07% Added +13.8k +13,791
44 MML INVESTORS SERVICES, LLC 0.12% of their portfolio SPRINGFIELD, MA 243,771243.8k $40.1m $40.1m 0.12% Reduced -1.4k -1,448
45 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.07% of their portfolio PLYMOUTH, MN 242,873242.9k $40.7m $40.7m 0.07% Reduced -2.6k -2,568
46 Krilogy Financial LLC 2.21% of their portfolio ST. LOUIS, MO 234,094234.1k $38.5m $38.5m 2.21% Added +10.9k +10,857
47 Summit Financial, LLC 0.85% of their portfolio PARSIPPANY, NJ 227,073227.1k $37.5m $37.5m 0.85% Added +49.4k +49,432
48 Marotta Asset Management 7.27% of their portfolio CHARLOTTESVILLE, VA 220,403220.4k $36.2m $36.2m 7.27% Reduced -16.6k -16,574
49 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 201,591201.6k $33.2m $33.2m 0.03% Added +36.6k +36,565
50 KWMG, LLC 2.96% of their portfolio OVERLAND PARK, KS 191,367191.4k $31.5m $31.5m 2.96% Added +5.2k +5,209
51 CONDOR CAPITAL MANAGEMENT 2.72% of their portfolio MARTINSVILLE, NJ 190,501190.5k $31.3m $31.3m 2.72% Added +478 +478
52 BENJAMIN EDWARDS INC 0.39% of their portfolio Clayton, MO 183,932183.9k $30.2m $30.2m 0.39% Added +4.4k +4,352
53 Kestra Advisory Services, LLC 0.15% of their portfolio AUSTIN, TX 183,769183.8k $30.2m $30.2m 0.15% Added +44.9k +44,883
54 NewEdge Advisors, LLC 0.16% of their portfolio NEW ORLEANS, LA 182,825182.8k $30.1m $30.1m 0.16% Added +25.7k +25,692
55 CARY STREET PARTNERS FINANCIAL LLC 0.73% of their portfolio RICHMOND, VA 182,387182.4k $26.1m $26.1m 0.73% Added +21.5k +21,507
56 Wilmington Savings Fund Society, FSB 0.50% of their portfolio WILMINGTON, DE 171,565171.6k $28.2m $28.2m 0.50% Added +20.5k +20,462
57 Shakespeare Wealth Management, LLC 7.48% of their portfolio Pewaukee, WI 170,565170.6k $28.1m $28.1m 7.48% Added +5.4k +5,367
58 Bragg Financial Advisors, Inc 1.00% of their portfolio CHARLOTTE, NC 169,666169.7k $27.9m $27.9m 1.00% Added +3.7k +3,741
59 Total Wealth Planning, LLC 3.50% of their portfolio CINCINNATI, OH 168,612168.6k $27.7m $27.7m 3.50% Added +4.9k +4,862
60 Avion Wealth 6.28% of their portfolio THE WOODLANDS, TX 167,618167.6k $27.6m $27.6m 6.28% Added +26.9k +26,910
61 Beacon Pointe Advisors, LLC 0.26% of their portfolio NEWPORT BEACH, CA 148,832148.8k $24.5m $24.5m 0.26% Added +12.1k +12,112
62 Mesirow Financial Investment Management, Inc. 0.46% of their portfolio CHICAGO, IL 144,648144.6k $23.8m $23.8m 0.46% Added +3.4k +3,387
63 Falcon Wealth Planning 2.39% of their portfolio Ontario, CA 143,637143.6k $23.6m $23.6m 2.39% Reduced -3.5k -3,477
64 BHK Investment Advisors, LLC 9.07% of their portfolio BIRMINGHAM, AL 140,887140.9k $23.2m $23.2m 9.07% Added +275 +275
65 Grove Street Fiduciary, LLC 10.84% of their portfolio PETERBOROUGH, NH 136,747136.7k $22.5m $22.5m 10.84% Reduced -2.6k -2,553
66 PRESILIUM PRIVATE WEALTH, LLC 4.58% of their portfolio RADNOR, PA 135,986136.0k $22.4m $22.4m 4.58% Added +9.6k +9,619
67 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 135,259135.3k $22.2m $22.2m 0.01% Added +5.8k +5,795
68 BLAIR WILLIAM & CO/IL 0.06% of their portfolio CHICAGO, IL 135,003135.0k $22.2m $22.2m 0.06% Added +5.1k +5,061
69 AIRE ADVISORS, LLC 3.96% of their portfolio BEVERLY HILLS, CA 124,417124.4k $20.5m $20.5m 3.96% Reduced -351 -351
70 CWM, LLC 0.07% of their portfolio OMAHA, NE 123,581123.6k $20.3m $20.3m 0.07% Added +59.1k +59,120
71 CAPTRUST FINANCIAL ADVISORS 0.04% of their portfolio RALEIGH, NC 120,148120.1k $19.8m $19.8m 0.04% Reduced -1.4k -1,421
72 MERCER GLOBAL ADVISORS INC /ADV 0.04% of their portfolio DENVER, CO 119,241119.2k $19.6m $19.6m 0.04% Added +18.0k +18,046
73 STEPHENS INC /AR/ 0.27% of their portfolio LITTLE ROCK, AR 117,557117.6k $19.3m $19.3m 0.27% Reduced -576 -576
74 Cambridge Investment Research Advisors, Inc. 0.06% of their portfolio FAIRFIELD, IA 116,111116.1k $19.1m $19.1m 0.06% Reduced -7.2k -7,212
75 FIRST AMERICAN TRUST, FSB 1.46% of their portfolio SANTA ANA, CA 111,470111.5k $18.3m $18.3m 1.46% Added +86.6k +86,625
76 &PARTNERS 0.14% of their portfolio NASHVILLE, TN 110,713110.7k $18.2m $18.2m 0.14% Added +31.2k +31,227
77 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 106,977107.0k $17.6m $17.6m 0.03% Added +3.1k +3,082
78 ARVEST INVESTMENTS, INC. 2.60% of their portfolio LOWELL, AR 105,243105.2k $17.3m $17.3m 2.60% Added +527 +527
79 Ledyard National Bank 1.63% of their portfolio HANOVER, NH 104,919104.9k $17.3m $17.3m 1.63% Added +43 +43
80 Praetorian Wealth Management, Inc. 3.97% of their portfolio CARMEL, CA 104,907104.9k $17.3m $17.3m 3.97% Reduced -30.8k -30,764
81 SAGE FINANCIAL GROUP INC 1.27% of their portfolio W. CONSHOHOCKEN, PA 104,478104.5k $17.2m $17.2m 1.27% Reduced -2.3k -2,292
82 NATIXIS ADVISORS, LLC 0.03% of their portfolio Boston, MA 104,261104.3k $17.1m $17.1m 0.03% Added +3.8k +3,812
83 PEAPACK GLADSTONE FINANCIAL CORP 0.23% of their portfolio BEDMINSTER, NJ 98,10998.1k $16.1m $16.1m 0.23% Reduced -783 -783
84 Asset Management Group, Inc. 2.73% of their portfolio STAMFORD, CT 95,31695.3k $15.7m $15.7m 2.73% Reduced -923 -923
85 Advisory Alpha, LLC 0.47% of their portfolio HOLLAND, MI 91,80791.8k $15.1m $15.1m 0.47% Added +4.2k +4,235
86 Roberts Financial Services LLC 5.16% of their portfolio MARQUETTE, MI 90,96391.0k $15.0m $15.0m 5.16% Reduced -85.3k -85,285
87 Lutz Financial Services LLC 1.16% of their portfolio OMAHA, NE 90,63890.6k $14.9m $14.9m 1.16% Added +18.9k +18,853
88 LMCG INVESTMENTS, LLC 0.93% of their portfolio BOSTON, MA 90,34490.3k $14.9m $14.9m 0.93% Reduced -3.6k -3,646
89 OLIO Financial Planning 4.63% of their portfolio MCLEAN, VA 89,30089.3k $14.7m $14.7m 4.63% Added +2.7k +2,713
90 Evensky & Katz LLC 0.89% of their portfolio CORAL GABLES, FL 88,47588.5k $14.6m $14.6m 0.89% Reduced -1.9k -1,879
91 FIFTH THIRD BANCORP 0.05% of their portfolio CINCINNATI, OH 88,25088.2k $14.5m $14.5m 0.05% Reduced -1.6k -1,602
92 Bryn Mawr Trust Advisors, LLC 0.79% of their portfolio PHILADELPHIA, PA 88,22088.2k $14.5m $14.5m 0.79% Added +15.7k +15,724
93 Strategic Investment Advisors / MI 1.41% of their portfolio FARMINGTON HILLS, MI 87,98088.0k $14.5m $14.5m 1.41% Added +7.3k +7,277
94 Compton Wealth Advisory Group, LLC 3.64% of their portfolio VIRGINIA BEACH, VA 87,60687.6k $14.4m $14.4m 3.64% Added +2.4k +2,381
95 Legacies Wealth LLC 9.28% of their portfolio MINNETONKA, MN 84,98385.0k $14.0m $14.0m 9.28% Added +7.1k +7,108
96 Modera Wealth Management, LLC 0.17% of their portfolio WESTWOOD, NJ 84,22384.2k $13.9m $13.9m 0.17% Reduced -928 -928
97 ProVise Management Group, LLC 1.09% of their portfolio CLEARWATER, FL 84,13884.1k $13.8m $13.8m 1.09% Reduced -389 -389
98 Chicago Partners Investment Group LLC 0.41% of their portfolio CHICAGO, IL 83,40983.4k $14.2m $14.2m 0.41% Added +387 +387
99 HUB Investment Partners, LLC 0.48% of their portfolio AUSTIN, TX 82,93582.9k $13.6m $13.6m 0.48% Reduced -58 -58
100 DAVENPORT & Co LLC 0.07% of their portfolio RICHMOND, VA 81,55381.6k $13.4m $13.4m 0.07% Added +5.1k +5,126