Vault-13

VANGUARD INDEX FDS VNQ

REAL ESTATE ETF · ETP · CUSIP 922908553

1,623 institutional holders +110 vs Q3 2022
238,269,250238.3m shares reported held*
$19.7bnreported value*
122 new 660 added 581 reduced 92 sold out net bought ≈ $764.0m (+7.7m 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 ($150.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $82.62. Options: 9 managers hold calls ($89.7m notional), 14 hold puts ($380.1m).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,513Q4 22: 1,6231,623Q3 22Q4 22
Numbers
QuarterHolders
Q3 20221,513
Q4 20221,623

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ3 22 calls: $64.4mQ3 22 puts: $280.2mQ3 22P/C 4.35Q4 22 calls: $89.7mQ4 22 puts: $380.1mQ4 22P/C 4.24
Numbers
QuarterCallsPutsP/C
Q3 2022$64.4m$280.2m4.35
Q4 2022$89.7m$380.1m4.24

Biggest buyers

Mivtachim The Workers Social Insurance Fund Ltd. (Under Special Management) New +6,424,154+6.4m
Caisse de depot et placement du Quebec New +1,507,000+1.5m
JPMORGAN CHASE & CO Added +1,226,894+1.2m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +927,882+927.9k
PERSONAL CAPITAL ADVISORS CORP Added +920,965+921.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +808,233+808.2k
GOLDMAN SACHS GROUP INC Added +786,749+786.7k
Squarepoint Ops LLC New +754,073+754.1k
ROYAL BANK OF CANADA Added +463,119+463.1k
Wealthfront Advisers LLC Added +427,672+427.7k

Biggest sellers

BANK OF MONTREAL /CAN/ Reduced -2,510,464-2.5m
FMR LLC Reduced -2,464,924-2.5m
CFS Investment Advisory Services, LLC Sold out -1,834,209-1.8m
BANK OF AMERICA CORP /DE/ Reduced -983,976-984.0k
MUFG Americas Holdings Corp Sold out -729,005-729.0k
VICTORY CAPITAL MANAGEMENT INC Reduced -423,592-423.6k
MILLENNIUM MANAGEMENT LLC Reduced -381,214-381.2k
WELLS FARGO & COMPANY/MN Reduced -378,002-378.0k
CITADEL ADVISORS LLC Reduced -354,518-354.5k
Conservest Capital Advisors, Inc. Sold out -318,188-318.2k

Biggest calls

CITADEL ADVISORS LLC Added $55.8m676.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $14.7m178.6k shares
PEAK6 Investments LLC Reduced $10.7m130.2k shares
CAPITAL FUND MANAGEMENT S.A. Added $4.1m49.8k shares
WOLVERINE TRADING, LLC Added $3.6m43.4k shares
Paladin Advisory Group, LLC Added $516.8k6.3k shares
Walleye Trading LLC New $107.2k1.3k shares
Cutler Group LLC / CA Added $37.0k15.9k shares
Parallax Volatility Advisers, L.P. Unchanged $24.7k300 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $168.1m2.0m shares
Elliott Investment Management L.P. Reduced $144.3m1.8m shares
CITADEL ADVISORS LLC Added $24.3m294.2k shares
CAPITAL FUND MANAGEMENT S.A. Added $10.8m130.8k shares
WOLVERINE TRADING, LLC Added $8.5m103.0k shares
KINGDON CAPITAL MANAGEMENT, L.L.C. New $8.2m100.0k shares
PEAK6 Investments LLC Reduced $7.3m88.7k shares
Parallax Volatility Advisers, L.P. Unchanged $3.5m43.0k shares
DigitalBridge Group, Inc. Added $3.4m40.8k shares
PRELUDE CAPITAL MANAGEMENT, LLC New $833.0k10.1k 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 Creative Planning 2.58% of their portfolio OVERLAND PARK, KS 20,831,07020.8m $1.7bn $1.7bn 2.58% Reduced -156.1k -156,072
2 MORGAN STANLEY 0.15% of their portfolio NEW YORK, NY 16,464,30716.5m $1.4bn $1.4bn 0.15% Added +194.3k +194,301
3 BANK OF AMERICA CORP /DE/ 0.14% of their portfolio CHARLOTTE, NC 13,903,93413.9m $1.1bn $1.1bn 0.14% Reduced -984.0k -983,976
4 WELLS FARGO & COMPANY/MN 0.26% of their portfolio SAN FRANCISCO, CA 9,800,8679.8m $808.4m $808.4m 0.26% Reduced -378.0k -378,002
5 PERSONAL CAPITAL ADVISORS CORP 3.48% of their portfolio Redwood City, CA 8,694,7598.7m $717.1m $717.1m 3.48% Added +921.0k +920,965
6 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.91% of their portfolio MILWAUKEE, WI 7,311,4337.3m $603.1m $603.1m 0.91% Added +927.9k +927,882
7 US BANCORP \DE\ 0.97% of their portfolio MINNEAPOLIS, MN 6,656,1306.7m $549.0m $549.0m 0.97% Added +416.2k +416,229
8 Wealthfront Advisers LLC 2.58% of their portfolio Palo Alto, CA 6,447,0126.4m $531.7m $531.7m 2.58% Added +427.7k +427,672
9 Mivtachim The Workers Social Insurance Fund Ltd. (Under Special Management) 27.58% of their portfolio Tel Aviv, L3 6,424,1546.4m $529.9m $529.9m 27.58% New
10 JPMORGAN CHASE & CO 0.06% of their portfolio NEW YORK, NY 5,359,8945.4m $442.1m $442.1m 0.06% Added +1.2m +1,226,894
11 GOLDMAN SACHS GROUP INC 0.11% of their portfolio NEW YORK, NY 4,843,8154.8m $399.5m $399.5m 0.11% Added +786.7k +786,749
12 UBS Group AG 0.18% of their portfolio ZURICH, V8 4,434,8554.4m $365.8m $365.8m 0.18% Added +34.2k +34,203
13 PRUDENTIAL FINANCIAL INC 0.60% of their portfolio NEWARK, NJ 4,295,6874.3m $354.3m $354.3m 0.60% Added +398.5k +398,525
14 PNC Financial Services Group, Inc. 0.31% of their portfolio Pittsburgh, PA 3,881,4243.9m $320.1m $320.1m 0.31% Reduced -24.2k -24,204
15 ROYAL BANK OF CANADA 0.09% of their portfolio TORONTO, A6 3,659,7113.7m $301.9m $301.9m 0.09% Added +463.1k +463,119
16 ENVESTNET ASSET MANAGEMENT INC 0.15% of their portfolio Berwyn, PA 3,512,2893.5m $289.7m $289.7m 0.15% Added +107.7k +107,748
17 Financial Engines Advisors L.L.C. 0.76% of their portfolio SANTA CLARA, CA 3,241,3283.2m $267.3m $267.3m 0.76% Added +109.8k +109,763
18 Bank of New York Mellon Corp 0.05% of their portfolio NEW YORK, NY 2,826,6912.8m $233.1m $233.1m 0.05% Added +395.1k +395,067
19 FIFTH THIRD BANCORP 1.10% of their portfolio CINCINNATI, OH 2,786,3422.8m $229.8m $229.8m 1.10% Reduced -266.2k -266,180
20 Vanderbilt University 50.47% of their portfolio NASHVILLE, TN 2,374,3562.4m $195.8m $195.8m 50.47% Added +32.9k +32,900
21 Millburn Ridgefield LLC /DE/ 6.13% of their portfolio New York, NY 1,942,0971.9m $160.2m $160.2m 6.13% Added +150.5k +150,549
22 Catalyst Capital Advisors LLC 5.21% of their portfolio San Juan, PR 1,942,0971.9m $160.2m $160.2m 5.21% Added +150.5k +150,549
23 State of Tennessee, Department of Treasury 0.74% of their portfolio NASHVILLE, TN 1,910,3191.9m $157.6m $157.6m 0.74% Added +269.4k +269,431
24 Mariner, LLC 0.49% of their portfolio Overland Park, KS 1,847,6691.8m $152.4m $152.4m 0.49% Added +75.5k +75,523
25 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.81% of their portfolio IRVING, TX 1,757,3741.8m $144.9m $144.9m 0.81% Added +74.2k +74,173
26 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 1.99% of their portfolio PLYMOUTH, MN 1,730,5281.7m $154.3m $154.3m 1.99% Added +97.7k +97,699
27 LPL Financial LLC 0.12% of their portfolio FORT MILL, SC 1,677,5791.7m $138.4m $138.4m 0.12% Reduced -43.7k -43,737
28 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.08% of their portfolio Toronto, A6 1,561,2411.6m $128.8m $128.8m 0.08% Added +315.9k +315,884
29 GLENMEDE TRUST CO NA 0.75% of their portfolio PHILADELPHIA, PA 1,556,0221.6m $128.3m $128.3m 0.75% Reduced -78.0k -78,019
30 Caisse de depot et placement du Quebec 0.38% of their portfolio Montreal, A8 1,507,0001.5m $124.3m $124.3m 0.38% New
31 J.P. Morgan Private Wealth Advisors LLC 0.27% of their portfolio SAN FRANCISCO, CA 1,449,0661.4m $119.5m $119.5m 0.27% Reduced -2.7k -2,673
32 Corient Private Wealth LP 0.43% of their portfolio MIAMI, FL 1,446,5161.4m $118.6m $118.6m 0.43% First filing
33 State of New Jersey Common Pension Fund D 0.37% of their portfolio TRENTON, NJ 1,200,0001.2m $99.0m $99.0m 0.37% Unchanged
34 HighTower Advisors, LLC 0.21% of their portfolio CHICAGO, IL 1,136,8931.1m $93.7m $93.7m 0.21% Added +94.6k +94,605
35 OSAIC HOLDINGS, INC. 0.18% of their portfolio SCOTTSDALE, AZ 1,099,8151.1m $90.7m $90.7m 0.18% Added +3.6k +3,641
36 VISTA CAPITAL PARTNERS, INC. 13.56% of their portfolio PORTLAND, OR 1,054,4611.1m $87.0m $87.0m 13.56% Added +57.9k +57,915
37 Gibson Capital, LLC 25.48% of their portfolio WEXFORD, PA 1,037,5951.0m $85.6m $85.6m 25.48% Added +21.7k +21,657
38 Pure Financial Advisors, LLC 4.41% of their portfolio SAN DIEGO, CA 1,036,2831.0m $85.5m $85.5m 4.41% Added +106.9k +106,897
39 MONETA GROUP INVESTMENT ADVISORS LLC 2.29% of their portfolio ST LOUIS, MO 915,846915.8k $83.4m $83.4m 2.29% Reduced -5.7k -5,696
40 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.14% of their portfolio BALA CYNWYD, PA 884,011884.0k $72.9m $72.9m 0.14% Added +808.2k +808,233
41 SYNOVUS FINANCIAL CORP 0.82% of their portfolio Columbus, GA 872,340872.3k $72.0m $72.0m 0.82% Reduced -18.5k -18,453
42 Valmark Advisers, Inc. 1.56% of their portfolio AKRON, OH 818,865818.9k $67.5m $67.5m 1.56% Reduced -256.9k -256,925
43 Raymond James Financial Services Advisors, Inc. 0.13% of their portfolio ST. PETERSBURG, FL 805,780805.8k $66.5m $66.5m 0.13% Reduced -41.7k -41,725
44 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 791,647791.6k $65.3m $65.3m 0.02% Added +2.0k +1,991
45 1832 Asset Management L.P. 0.13% of their portfolio TORONTO, A6 783,423783.4k $64.6m $64.6m 0.13% Added +25.2k +25,157
46 Squarepoint Ops LLC 0.41% of their portfolio NEW YORK, NY 754,073754.1k $62.5m $62.5m 0.41% New
47 AVANTAX ADVISORY SERVICES, INC. 0.83% of their portfolio DALLAS, TX 753,848753.8k $62.2m $62.2m 0.83% Reduced -235.8k -235,845
48 Seven Post Investment Office LP 21.84% of their portfolio San Francisco, CA 752,486752.5k $62.1m $62.1m 21.84% Added +606 +606
49 COMMONWEALTH EQUITY SERVICES, LLC 0.15% of their portfolio WALTHAM, MA 736,317736.3k $60.7m $60.7m 0.15% Added +769 +769
50 REBALANCE, LLC 5.91% of their portfolio PALO ALTO, CA 690,832690.8k $57.0m $57.0m 5.91% First filing
51 RTD Financial Advisors, Inc. 9.18% of their portfolio Philadelphia, PA 682,495682.5k $56.3m $56.3m 9.18% Added +38.8k +38,791
52 ASSETMARK, INC 0.24% of their portfolio CONCORD, CA 669,158669.2k $55.2m $55.2m 0.24% Reduced -22.3k -22,255
53 LAKE STREET ADVISORS GROUP, LLC 3.61% of their portfolio PORTSMOUTH, NH 664,697664.7k $54.8m $54.8m 3.61% Added +22.0k +21,992
54 STIFEL FINANCIAL CORP 0.08% of their portfolio ST. LOUIS, MO 624,733624.7k $51.5m $51.5m 0.08% Reduced -68.0k -68,033
55 TRUIST FINANCIAL CORP 0.09% of their portfolio CHARLOTTE, NC 597,033597.0k $49.2m $49.2m 0.09% Reduced -155.9k -155,950
56 MBB PUBLIC MARKETS I LLC 1.30% of their portfolio CHICAGO, IL 563,046563.0k $46.4m $46.4m 1.30% Added +12.3k +12,300
57 M&T Bank Corp 0.19% of their portfolio BUFFALO, NY 559,962560.0k $46.2m $46.2m 0.19% Reduced -3.8k -3,775
58 CITIZENS FINANCIAL GROUP INC/RI 1.75% of their portfolio PROVIDENCE, RI 544,392544.4k $44.9m $44.9m 1.75% Added +38.4k +38,436
59 Passive Capital Management, LLC. 20.07% of their portfolio BALTIMORE, MD 534,787534.8k $44.1m $44.1m 20.07% Added +68.2k +68,194
60 TWO SIGMA INVESTMENTS, LP 0.14% of their portfolio NEW YORK, NY 527,808527.8k $43.5m $43.5m 0.14% Added +116.1k +116,119
61 RAYMOND JAMES & ASSOCIATES 0.04% of their portfolio ST PETERSBURG, FL 512,672512.7k $42.3m $42.3m 0.04% Added +6.7k +6,675
62 LifeGuide Financial Advisors, LLC 35.52% of their portfolio MECHANICSBURG, PA 496,644496.6k $41.0m $41.0m 35.52% Added +22.6k +22,564
63 Sand Hill Global Advisors, LLC 2.14% of their portfolio Palo Alto, CA 459,963460.0k $37.9m $37.9m 2.14% Added +71.8k +71,830
64 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 1.76% of their portfolio Seattle, WA 453,203453.2k $37.4m $37.4m 1.76% Added +48.8k +48,792
65 Comprehensive Financial Management LLC 1.19% of their portfolio Los Gatos, CA 449,695449.7k $37.1m $37.1m 1.19% Unchanged
66 First Command Bank 4.69% of their portfolio FORT WORTH, TX 448,108448.1k $37.0m $37.0m 4.69% Added +2.1k +2,078
67 First Command Financial Services, Inc. 4.69% of their portfolio FORT WORTH, TX 448,108448.1k $37.0m $37.0m 4.69% Added +2.1k +2,078
68 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 436,974437.0k $36.1m $36.1m 0.02% Reduced -2.5m -2,510,464
69 Efficient Advisors, LLC 3.63% of their portfolio BEAVERTON, OR 433,619433.6k $35.8m $35.8m 3.63% Added +59.2k +59,177
70 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 431,906431.9k $35.6m $35.6m 0.00% Reduced -126.7k -126,667
71 BlackRock Inc. 0.00% of their portfolio New York, NY 402,454402.5k $33.2m $33.2m 0.00% Added +320.5k +320,485
72 CAPTRUST FINANCIAL ADVISORS 0.16% of their portfolio RALEIGH, NC 383,493383.5k $31.3m $31.3m 0.16% Reduced -30.9k -30,891
73 FUKOKU MUTUAL LIFE INSURANCE Co 2.66% of their portfolio TOKYO, M0 383,000383.0k $31.6m $31.6m 2.66% Unchanged
74 PATHSTONE FAMILY OFFICE, LLC 0.27% of their portfolio ENGLEWOOD, NJ 380,992381.0k $32.4m $32.4m 0.27% Reduced -251.7k -251,740
75 Baird Financial Group, Inc. 0.07% of their portfolio MILWAUKEE, WI 337,895337.9k $27.9m $27.9m 0.07% Added +15.7k +15,719
76 Balyasny Asset Management L.P. 0.10% of their portfolio Chicago, IL 335,654335.7k $27.7m $27.7m 0.10% Added +93.6k +93,576
77 OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC 2.14% of their portfolio SAN FRANCISCO, CA 330,366330.4k $27.2m $27.2m 2.14% Added +1.8k +1,830
78 CAPITAL ADVISORS INC/OK 0.76% of their portfolio TULSA, OK 326,451326.5k $26.9m $26.9m 0.76% Reduced -59.2k -59,214
79 Cerity Partners LLC 0.22% of their portfolio NEW YORK, NY 320,185320.2k $33.5m $33.5m 0.22% Added +69.0k +68,993
80 Conservest Capital Advisors, Inc. 3.35% of their portfolio WYNNEWOOD, PA 319,948319.9k $26.4m $26.4m 3.35% New
81 CONNABLE OFFICE INC 3.73% of their portfolio KALAMAZOO, MI 316,156316.2k $26.1m $26.1m 3.73% Added +65.9k +65,915
82 TIAA, FSB 0.10% of their portfolio ST. LOUIS, MO 313,842313.8k $25.9m $25.9m 0.10% Reduced -59.9k -59,939
83 CITIGROUP INC 0.04% of their portfolio NEW YORK, NY 312,648312.6k $25.8m $25.8m 0.04% Added +150.6k +150,617
84 Garde Capital, Inc. 3.06% of their portfolio SEATTLE, WA 308,702308.7k $25.5m $25.5m 3.06% Reduced -6.7k -6,659
85 Cetera Investment Advisers 0.23% of their portfolio SCHAUMBURG, IL 302,774302.8k $25.0m $25.0m 0.23% Added +163.3k +163,292
86 MIRABELLA FINANCIAL SERVICES LLP 2.21% of their portfolio London, X0 299,348299.3k $24.7m $24.7m 2.21% Reduced -94.2k -94,181
87 MassMutual Private Wealth & Trust, FSB 1.00% of their portfolio Windsor, CT 293,727293.7k $24.2m $24.2m 1.00% Reduced -13.6k -13,641
88 One Day In July LLC 4.97% of their portfolio BURLINGTON, VT 292,628292.6k $24.1m $24.1m 4.97% Added +7.8k +7,832
89 Chandler Asset Management, Inc. 6.69% of their portfolio SAN DIEGO, CA 289,560289.6k $23.2m $23.2m 6.69% Unchanged
90 Wealthcare Advisory Partners LLC 1.12% of their portfolio WEST CHESTER, PA 283,738283.7k $23.4m $23.4m 1.12% Added +35.9k +35,878
91 STEPHENS INC /AR/ 0.47% of their portfolio LITTLE ROCK, AR 280,965281.0k $23.2m $23.2m 0.47% Reduced -42.3k -42,317
92 Cambridge Investment Research Advisors, Inc. 0.12% of their portfolio FAIRFIELD, IA 275,864275.9k $22.8m $22.8m 0.12% Reduced -27.4k -27,383
93 TECTONIC ADVISORS LLC 3.52% of their portfolio FRISCO, TX 275,250275.2k $22.7m $22.7m 3.52% Reduced -41.9k -41,870
94 FACTORY MUTUAL INSURANCE CO 0.33% of their portfolio WALTHAM, MA 266,600266.6k $22.0m $22.0m 0.33% Unchanged
95 Tanglewood Wealth Management, Inc. 3.29% of their portfolio HOUSTON, TX 266,256266.3k $22.0m $22.0m 3.29% Added +32.5k +32,506
96 KWMG, LLC 3.08% of their portfolio OVERLAND PARK, KS 262,597262.6k $21.7m $21.7m 3.08% Added +15.8k +15,795
97 Ally Financial Inc. 3.35% of their portfolio Detroit, MI 261,000261.0k $21.5m $21.5m 3.35% Added +69.0k +69,000
98 MML INVESTORS SERVICES, LLC 0.14% of their portfolio SPRINGFIELD, MA 257,100257.1k $21.2m $21.2m 0.14% Added +20.3k +20,344
99 Crestone Asset Management LLC 4.40% of their portfolio BOULDER, CO 254,016254.0k $21.0m $21.0m 4.40% Reduced -103.6k -103,595
100 Cerity Partners OCIO LLC 0.67% of their portfolio New York, NY 251,995252.0k $20.8m $20.8m 0.67% Reduced -14.1k -14,051