Vault-13

VANGUARD INDEX FDS VOE

MCAP VL IDXVIP · ETP · CUSIP 922908512

1,118 institutional holders -8 vs Q2 2025
67,214,02167.2m shares reported held*
$11.6bnreported value*
58 new 436 added 359 reduced 55 sold out net sold ≈ $180.2m (-1.0m 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 ($24.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $172.48. Options: 2 managers hold calls ($5.3m notional), 2 hold puts ($1.3m).

Trends to Q3 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: 1,126Q3 25: 1,1181,118Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 20251,118

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q4 23: 403 bought or addedQ4 23: 381 cut or sold outQ1 24: 438 bought or addedQ1 24: 418 cut or sold outQ1 24Q2 24: 385 bought or addedQ2 24: 427 cut or sold outQ3 24: 449 bought or addedQ3 24: 390 cut or sold outQ3 24Q4 24: 491 bought or addedQ4 24: 355 cut or sold outQ1 25: 490 bought or addedQ1 25: 439 cut or sold outQ1 25Q2 25: 438 bought or addedQ2 25: 443 cut or sold outQ3 25: 494 bought or addedQ3 25: 414 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023403381
Q1 2024438418
Q2 2024385427
Q3 2024449390
Q4 2024491355
Q1 2025490439
Q2 2025438443
Q3 2025494414

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ4 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 0.25Q3 25 calls: $5.3mQ3 25 puts: $1.3mQ3 25P/C 0.25
Numbers
QuarterCallsPutsP/C
Q4 2024$4.1m$258.8k0.06
Q1 2025$6.8m$449.8k0.07
Q2 2025$6.4m$1.6m0.25
Q3 2025$5.3m$1.3m0.25

Biggest buyers

VANTAGEPOINT INVESTMENT ADVISERS LLC New +600,253+600.3k
JPMORGAN CHASE & CO Added +339,593+339.6k
PICTON MAHONEY ASSET MANAGEMENT Added +334,159+334.2k
Corient Private Wealth LP Added +247,900+247.9k
WoodTrust Financial Corp New +173,202+173.2k
ASSETMARK, INC Added +149,897+149.9k
MORGAN STANLEY Added +145,068+145.1k
World Investment Advisors Added +113,739+113.7k
Cetera Investment Advisers Added +104,463+104.5k
JONES FINANCIAL COMPANIES LLLP Added +83,243+83.2k

Biggest sellers

ROYAL BANK OF CANADA Reduced -2,839,669-2.8m
Rockefeller Capital Management L.P. Reduced -440,544-440.5k
Betterment LLC Reduced -113,154-113.2k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -106,346-106.3k
STEPHENS GROUP ASSET MANAGEMENT, LLC Reduced -94,056-94.1k
TIAA TRUST, NATIONAL ASSOCIATION Reduced -76,133-76.1k
Summit Financial, LLC Reduced -61,235-61.2k
UBS Group AG Reduced -57,251-57.3k
SPC Financial, Inc. Reduced -50,890-50.9k
BNP PARIBAS FINANCIAL MARKETS Reduced -49,715-49.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.9m22.4k shares
CITADEL ADVISORS LLC Reduced $1.4m8.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $785.6k4.5k shares
JANE STREET GROUP, LLC Reduced $558.7k3.2k 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 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 4,755,5294.8m $830.2m $830.2m 0.05% Added +145.1k +145,068
2 ASSETMARK, INC 1.65% of their portfolio CONCORD, CA 4,414,8454.4m $770.7m $770.7m 1.65% Added +149.9k +149,897
3 Betterment LLC 1.39% of their portfolio NEW YORK, NY 4,020,3104.0m $701.9m $701.9m 1.39% Reduced -113.2k -113,154
4 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 3,037,2583.0m $530.2m $530.2m 0.04% Reduced -19.9k -19,881
5 WELLS FARGO & COMPANY/MN 0.09% of their portfolio SAN FRANCISCO, CA 2,639,0342.6m $460.7m $460.7m 0.09% Added +59.9k +59,882
6 ROYAL BANK OF CANADA 0.08% of their portfolio TORONTO, A6 2,632,3952.6m $459.6m $459.6m 0.08% Reduced -2.8m -2,839,669
7 JONES FINANCIAL COMPANIES LLLP 0.30% of their portfolio DES PERES, MO 2,495,4022.5m $435.5m $435.5m 0.30% Added +83.2k +83,243
8 TIAA TRUST, NATIONAL ASSOCIATION 0.68% of their portfolio CHARLOTTE, NC 1,598,2041.6m $279.0m $279.0m 0.68% Reduced -76.1k -76,133
9 PNC Financial Services Group, Inc. 0.15% of their portfolio Pittsburgh, PA 1,460,9091.5m $255.0m $255.0m 0.15% Reduced -2.8k -2,774
10 UBS Group AG 0.05% of their portfolio ZURICH, V8 1,399,1351.4m $244.3m $244.3m 0.05% Reduced -57.3k -57,251
11 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 1,162,4631.2m $202.9m $202.9m 0.06% Reduced -34.9k -34,934
12 STEPHENS GROUP ASSET MANAGEMENT, LLC 12.90% of their portfolio LITTLE ROCK, AR 1,096,2561.1m $191.4m $191.4m 12.90% Reduced -94.1k -94,056
13 LPL Financial LLC 0.05% of their portfolio FORT MILL, SC 1,075,4401.1m $187.8m $187.8m 0.05% Added +11.5k +11,478
14 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 1,052,8271.1m $183.8m $183.8m 0.04% Added +68.0k +68,011
15 FMR LLC 0.01% of their portfolio BOSTON, MA 925,977926.0k $161.7m $161.7m 0.01% Added +42.2k +42,206
16 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.11% of their portfolio MILWAUKEE, WI 906,842906.8k $158.3m $158.3m 0.11% Reduced -106.3k -106,346
17 MONETA GROUP INVESTMENT ADVISORS LLC 1.23% of their portfolio ST LOUIS, MO 886,534886.5k $154.8m $154.8m 1.23% Added +13.4k +13,405
18 Orgel Wealth Management, LLC 3.26% of their portfolio ALTOONA, WI 819,795819.8k $143.1m $143.1m 3.26% Added +24.3k +24,283
19 Wellspring Financial Advisors, LLC 0.12% of their portfolio CLEVELAND, OH 786,174786.2k $1.3m $1.3m 0.12% Reduced -158 -158
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 725,554725.6k $126.7m $126.7m 0.00% Added +339.6k +339,593
21 OSAIC HOLDINGS, INC. 0.17% of their portfolio SCOTTSDALE, AZ 702,325702.3k $122.2m $122.2m 0.17% Added +25.5k +25,514
22 Focus Partners Wealth 0.19% of their portfolio ST LOUIS, MO 682,195682.2k $119.1m $119.1m 0.19% Added +14.8k +14,779
23 STIFEL FINANCIAL CORP 0.11% of their portfolio ST. LOUIS, MO 671,100671.1k $117.2m $117.2m 0.11% Added +26.7k +26,736
24 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 654,641654.6k $114.3m $114.3m 0.04% Added +29.9k +29,944
25 VANTAGEPOINT INVESTMENT ADVISERS LLC 0.86% of their portfolio WASHINGTON, DC 600,253600.3k $104.8m $104.8m 0.86% New
26 Mariner, LLC 0.13% of their portfolio Overland Park, KS 582,615582.6k $101.7m $101.7m 0.13% Reduced -5.3k -5,321
27 Waverly Advisors, LLC 0.99% of their portfolio BIRMINGHAM, AL 570,947570.9k $99.7m $99.7m 0.99% Reduced -17.2k -17,237
28 SYM FINANCIAL Corp 10.23% of their portfolio WINONA LAKE, IN 547,508547.5k $95.6m $95.6m 10.23% Added +19.1k +19,089
29 Avior Wealth Management, LLC 3.02% of their portfolio OMAHA, NE 537,558537.6k $93.8m $93.8m 3.02% Reduced -3.7k -3,739
30 Rockefeller Capital Management L.P. 0.18% of their portfolio NEW YORK, NY 518,732518.7k $90.6m $90.6m 0.18% Reduced -440.5k -440,544
31 US BANCORP \DE\ 0.10% of their portfolio MINNEAPOLIS, MN 463,712463.7k $81.0m $81.0m 0.10% Added +738 +738
32 COMMONWEALTH EQUITY SERVICES, LLC 0.10% of their portfolio WALTHAM, MA 444,139444.1k $77.5m $77.5m 0.10% Reduced -15.5k -15,454
33 Creative Planning 0.06% of their portfolio OVERLAND PARK, KS 435,612435.6k $76.0m $76.0m 0.06% Reduced -15.7k -15,719
34 PICTON MAHONEY ASSET MANAGEMENT 0.90% of their portfolio Toronto, A6 406,324406.3k $70.9m $70.9m 0.90% Added +334.2k +334,159
35 Cetera Investment Advisers 0.08% of their portfolio SCHAUMBURG, IL 394,910394.9k $68.9m $68.9m 0.08% Added +104.5k +104,463
36 TRUIST FINANCIAL CORP 0.09% of their portfolio CHARLOTTE, NC 380,101380.1k $66.4m $66.4m 0.09% Added +6.9k +6,854
37 Rodgers & Associates, LTD 6.62% of their portfolio Lancaster, PA 367,997368.0k $64.2m $64.2m 6.62% Added +9.9k +9,875
38 McAdam, LLC 2.83% of their portfolio Philadelphia, PA 328,554328.6k $57.4m $57.4m 2.83% Added +18.7k +18,671
39 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 323,060323.1k $56.4m $56.4m 0.06% Added +17 +17
40 Berman McAleer LLC 7.23% of their portfolio TIMONIUM, MD 294,507294.5k $51.7m $51.7m 7.23% First filing
41 Krilogy Financial LLC 1.87% of their portfolio ST. LOUIS, MO 289,148289.1k $49.7m $49.7m 1.87% Added +55.1k +55,054
42 Private Advisor Group, LLC 0.25% of their portfolio MORRISTOWN, NJ 285,872285.9k $49.9m $49.9m 0.25% Added +10.2k +10,192
43 Equitable Holdings, Inc. 0.36% of their portfolio NEW YORK, NY 283,035283.0k $49.4m $49.4m 0.36% Reduced -4.1k -4,147
44 INSPIRION WEALTH ADVISORS, LLC 6.44% of their portfolio LIBERTYVILLE, IL 274,441274.4k $46.0m $46.0m 6.44% Reduced -12.7k -12,689
45 Corient Private Wealth LP 0.07% of their portfolio MIAMI, FL 262,678262.7k $45.9m $45.9m 0.07% Added +247.9k +247,900
46 Trust Co 4.55% of their portfolio MANHATTAN, KS 254,614254.6k $44.5m $44.5m 4.55% Added +3.7k +3,698
47 1832 Asset Management L.P. 0.07% of their portfolio TORONTO, A6 245,726245.7k $42.9m $42.9m 0.07% Reduced -2.4k -2,408
48 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.06% of their portfolio PLYMOUTH, MN 241,365241.4k $42.1m $42.1m 0.06% Reduced -1.5k -1,508
49 MML INVESTORS SERVICES, LLC 0.11% of their portfolio SPRINGFIELD, MA 231,072231.1k $40.3m $40.3m 0.11% Reduced -12.7k -12,699
50 Marotta Asset Management 7.32% of their portfolio CHARLOTTESVILLE, VA 223,279223.3k $38.9m $38.9m 7.32% Added +2.9k +2,876
51 KWMG, LLC 3.02% of their portfolio OVERLAND PARK, KS 197,125197.1k $34.4m $34.4m 3.02% Added +5.8k +5,758
52 NewEdge Advisors, LLC 0.15% of their portfolio NEW ORLEANS, LA 193,854193.9k $33.8m $33.8m 0.15% Added +11.0k +11,029
53 CARY STREET PARTNERS FINANCIAL LLC 0.77% of their portfolio RICHMOND, VA 193,147193.1k $29.6m $29.6m 0.77% Added +10.8k +10,760
54 BENJAMIN EDWARDS INC 0.37% of their portfolio Clayton, MO 189,333189.3k $33.1m $33.1m 0.37% Added +5.4k +5,401
55 Shakespeare Wealth Management, LLC 7.00% of their portfolio Pewaukee, WI 176,232176.2k $30.8m $30.8m 7.00% Added +5.7k +5,667
56 CONDOR CAPITAL MANAGEMENT 2.52% of their portfolio MARTINSVILLE, NJ 175,774175.8k $30.7m $30.7m 2.52% Reduced -14.7k -14,727
57 Total Wealth Planning, LLC 3.50% of their portfolio CINCINNATI, OH 173,377173.4k $30.3m $30.3m 3.50% Added +4.8k +4,765
58 WoodTrust Financial Corp 3.60% of their portfolio WISCONSIN RAPIDS, WI 173,202173.2k $30.2m $30.2m 3.60% New
59 Bragg Financial Advisors, Inc 0.98% of their portfolio CHARLOTTE, NC 169,713169.7k $29.6m $29.6m 0.98% Added +47 +47
60 Avion Wealth 6.27% of their portfolio THE WOODLANDS, TX 167,396167.4k $29.2m $29.2m 6.27% Reduced -222 -222
61 Wilmington Savings Fund Society, FSB 0.70% of their portfolio WILMINGTON, DE 167,106167.1k $29.2m $29.2m 0.70% Reduced -4.5k -4,459
62 Summit Financial, LLC 0.44% of their portfolio PARSIPPANY, NJ 165,838165.8k $29.0m $29.0m 0.44% Reduced -61.2k -61,235
63 Kestra Advisory Services, LLC 0.13% of their portfolio AUSTIN, TX 156,524156.5k $27.3m $27.3m 0.13% Reduced -27.2k -27,245
64 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 151,876151.9k $26.5m $26.5m 0.02% Reduced -49.7k -49,715
65 Falcon Wealth Planning 2.38% of their portfolio Ontario, CA 151,713151.7k $26.5m $26.5m 2.38% Added +8.1k +8,076
66 Mesirow Financial Investment Management, Inc. 0.46% of their portfolio CHICAGO, IL 146,499146.5k $25.6m $25.6m 0.46% Added +1.9k +1,851
67 PRESILIUM PRIVATE WEALTH, LLC 4.70% of their portfolio RADNOR, PA 141,799141.8k $24.8m $24.8m 4.70% Added +5.8k +5,813
68 BHK Investment Advisors, LLC 9.13% of their portfolio BIRMINGHAM, AL 140,041140.0k $24.4m $24.4m 9.13% Reduced -846 -846
69 BLAIR WILLIAM & CO/IL 0.06% of their portfolio CHICAGO, IL 137,951138.0k $24.1m $24.1m 0.06% Added +2.9k +2,948
70 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 134,575134.6k $23.5m $23.5m 0.01% Reduced -684 -684
71 Grove Street Fiduciary, LLC 10.91% of their portfolio PETERBOROUGH, NH 132,153132.2k $23.1m $23.1m 10.91% Reduced -4.6k -4,594
72 Beacon Pointe Advisors, LLC 0.19% of their portfolio NEWPORT BEACH, CA 127,334127.3k $22.2m $22.2m 0.19% Reduced -21.5k -21,498
73 AIRE ADVISORS, LLC 3.99% of their portfolio BEVERLY HILLS, CA 125,782125.8k $22.0m $22.0m 3.99% Added +1.4k +1,365
74 World Investment Advisors 0.43% of their portfolio LINCROFT, NJ 121,161121.2k $21.2m $21.2m 0.43% Added +113.7k +113,739
75 CAPTRUST FINANCIAL ADVISORS 0.04% of their portfolio RALEIGH, NC 120,364120.4k $21.0m $21.0m 0.04% Added +216 +216
76 &PARTNERS 0.13% of their portfolio NASHVILLE, TN 117,607117.6k $20.5m $20.5m 0.13% Added +6.9k +6,894
77 CWM, LLC 0.06% of their portfolio OMAHA, NE 117,047117.0k $20.4m $20.4m 0.06% Reduced -6.5k -6,534
78 STEPHENS INC /AR/ 0.25% of their portfolio LITTLE ROCK, AR 113,853113.9k $19.9m $19.9m 0.25% Reduced -3.7k -3,704
79 FIRST AMERICAN TRUST, FSB 1.42% of their portfolio SANTA ANA, CA 111,925111.9k $19.5m $19.5m 1.42% Added +455 +455
80 NATIXIS ADVISORS, LLC 0.03% of their portfolio Boston, MA 111,639111.6k $19.5m $19.5m 0.03% Added +7.4k +7,378
81 Sanctuary Advisors, LLC 0.06% of their portfolio INDIANAPOLIS, IN 109,421109.4k $18.4m $18.4m 0.06% Added +58.7k +58,681
82 ARVEST INVESTMENTS, INC. 2.72% of their portfolio LOWELL, AR 108,534108.5k $18.9m $18.9m 2.72% Added +3.3k +3,291
83 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 108,033108.0k $18.9m $18.9m 0.03% Added +1.1k +1,056
84 Cambridge Investment Research Advisors, Inc. 0.05% of their portfolio FAIRFIELD, IA 107,849107.8k $18.8m $18.8m 0.05% Reduced -8.3k -8,262
85 Praetorian Wealth Management, Inc. 3.75% of their portfolio CARMEL, CA 104,571104.6k $18.3m $18.3m 3.75% Reduced -336 -336
86 Ledyard National Bank 1.63% of their portfolio HANOVER, NH 104,350104.3k $18.2m $18.2m 1.63% Reduced -569 -569
87 MERCER GLOBAL ADVISORS INC /ADV 0.03% of their portfolio DENVER, CO 104,207104.2k $18.2m $18.2m 0.03% Reduced -15.0k -15,034
88 SAGE FINANCIAL GROUP INC 1.23% of their portfolio W. CONSHOHOCKEN, PA 103,501103.5k $18.1m $18.1m 1.23% Reduced -977 -977
89 Advisory Alpha, LLC 0.49% of their portfolio HOLLAND, MI 101,187101.2k $17.6m $17.6m 0.49% Added +9.4k +9,380
90 PEAPACK GLADSTONE FINANCIAL CORP 0.22% of their portfolio BEDMINSTER, NJ 96,50496.5k $16.8m $16.8m 0.22% Reduced -1.6k -1,605
91 Asset Management Group, Inc. 2.73% of their portfolio STAMFORD, CT 95,67195.7k $16.7m $16.7m 2.73% Added +355 +355
92 Bryn Mawr Trust Advisors, LLC 0.82% of their portfolio PHILADELPHIA, PA 95,01295.0k $16.6m $16.6m 0.82% Added +6.8k +6,792
93 OLIO Financial Planning 4.81% of their portfolio MCLEAN, VA 93,90293.9k $16.4m $16.4m 4.81% Added +4.6k +4,602
94 Roberts Financial Services LLC 5.26% of their portfolio MARQUETTE, MI 93,29693.3k $16.3m $16.3m 5.26% Added +2.3k +2,333
95 Lutz Financial Services LLC 1.13% of their portfolio OMAHA, NE 89,41889.4k $15.6m $15.6m 1.13% Reduced -1.2k -1,220
96 Legacies Wealth LLC 9.89% of their portfolio MINNETONKA, MN 87,94187.9k $15.4m $15.4m 9.89% Added +3.0k +2,958
97 Compton Wealth Advisory Group, LLC 3.54% of their portfolio VIRGINIA BEACH, VA 87,67787.7k $15.3m $15.3m 3.54% Added +71 +71
98 ProVise Management Group, LLC 1.13% of their portfolio CLEARWATER, FL 87,43787.4k $15.3m $15.3m 1.13% Added +3.3k +3,299
99 LMCG INVESTMENTS, LLC 0.89% of their portfolio BOSTON, MA 86,47786.5k $15.1m $15.1m 0.89% Reduced -3.9k -3,867
100 Chicago Partners Investment Group LLC 0.39% of their portfolio CHICAGO, IL 85,90285.9k $14.9m $14.9m 0.39% Added +2.5k +2,493