Vault-13

VANGUARD INDEX FDS VNQ

REAL ESTATE ETF · ETP · CUSIP 922908553

1,803 institutional holders +16 vs Q1 2026
227,597,591227.6m shares reported held*
$22.0bnreported value*
119 new 755 added 621 reduced 92 sold out net bought ≈ $517.8m (-514.1k 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 ($21.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $96.63. Options: 10 managers hold calls ($99.5m notional), 9 hold puts ($77.9m).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,513Q4 22: 1,623Q1 23: 1,593Q2 23: 1,558Q3 23: 1,531Q4 23: 1,675Q1 24: 1,636Q2 24: 1,591Q3 24: 1,665Q4 24: 1,745Q1 25: 1,719Q2 25: 1,677Q3 25: 1,678Q4 25: 1,763Q1 26: 1,787Q2 26: 1,8031,803Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 20221,513
Q4 20221,623
Q1 20231,593
Q2 20231,558
Q3 20231,531
Q4 20231,675
Q1 20241,636
Q2 20241,591
Q3 20241,665
Q4 20241,745
Q1 20251,719
Q2 20251,677
Q3 20251,678
Q4 20251,763
Q1 20261,787
Q2 20261,803

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 24: 769 bought or addedQ3 24: 722 cut or sold outQ4 24: 784 bought or addedQ4 24: 717 cut or sold outQ4 24Q1 25: 770 bought or addedQ1 25: 793 cut or sold outQ2 25: 731 bought or addedQ2 25: 797 cut or sold outQ2 25Q3 25: 794 bought or addedQ3 25: 690 cut or sold outQ4 25: 826 bought or addedQ4 25: 684 cut or sold outQ4 25Q1 26: 882 bought or addedQ1 26: 725 cut or sold outQ2 26: 874 bought or addedQ2 26: 713 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024769722
Q4 2024784717
Q1 2025770793
Q2 2025731797
Q3 2025794690
Q4 2025826684
Q1 2026882725
Q2 2026874713

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ3 25 calls: $95.4mQ3 25 puts: $124.0mQ3 25P/C 1.30Q4 25 calls: $81.6mQ4 25 puts: $90.2mQ4 25P/C 1.10Q1 26 calls: $145.5mQ1 26 puts: $71.5mQ1 26P/C 0.49Q2 26 calls: $99.5mQ2 26 puts: $77.9mQ2 26P/C 0.78
Numbers
QuarterCallsPutsP/C
Q3 2025$95.4m$124.0m1.30
Q4 2025$81.6m$90.2m1.10
Q1 2026$145.5m$71.5m0.49
Q2 2026$99.5m$77.9m0.78

Biggest buyers

NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +4,118,355+4.1m
PRICE T ROWE ASSOCIATES INC /MD/ New +1,300,407+1.3m
SBI Okasan Asset Management Co.Ltd. New +853,650+853.6k
AMERIPRISE FINANCIAL INC Added +813,491+813.5k
PRUDENTIAL FINANCIAL INC Added +722,085+722.1k
Empower Advisory Group, LLC Added +711,156+711.2k
D. E. Shaw & Co., Inc. New +523,931+523.9k
ASSETMARK, INC Added +486,579+486.6k
Cambridge Investment Research Advisors, Inc. Added +451,104+451.1k
SUMITOMO LIFE INSURANCE CO Added +405,811+405.8k

Biggest sellers

Gallagher Fiduciary Advisors, LLC Reduced -6,011,728-6.0m
TWO SIGMA INVESTMENTS, LP Reduced -3,380,500-3.4m
Vanderbilt University Sold out -865,645-865.6k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -540,000-540.0k
US BANCORP \DE\ Reduced -490,866-490.9k
MORGAN STANLEY Reduced -487,882-487.9k
Creative Planning Reduced -363,691-363.7k
Steward Partners Investment Advisory, LLC Reduced -327,767-327.8k
Corient Private Wealth LP Reduced -289,275-289.3k
Midwest Trust Co Reduced -286,719-286.7k

Biggest calls

JANE STREET GROUP, LLC Added $30.7m318.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $26.1m270.4k shares
CITADEL ADVISORS LLC Reduced $13.0m134.5k shares
Walleye Trading LLC Added $10.7m111.1k shares
Twin Tree Management, LP New $10.6m110.1k shares
CAPITAL FUND MANAGEMENT S.A. New $2.8m28.6k shares
PEAK6 LLC Added $2.1m22.0k shares
Point72 Asset Management, L.P. New $1.7m17.6k shares
GOLDMAN SACHS GROUP INC New $1.1m11.5k shares
UBS Group AG Added $774.5k8.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $23.6m244.5k shares
GOLDMAN SACHS GROUP INC Unchanged $19.3m200.0k shares
Lighthouse Investment Partners, LLC New $13.1m136.0k shares
CITADEL ADVISORS LLC Added $12.5m129.4k shares
JANE STREET GROUP, LLC Reduced $3.8m39.7k shares
Walleye Trading LLC Unchanged $2.2m22.5k shares
PEAK6 LLC Added $1.5m15.2k shares
CAPITAL FUND MANAGEMENT S.A. New $1.1m11.0k shares
Point72 Asset Management, L.P. New $945.0k9.8k 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, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Empower Advisory Group, LLC 4.05% of their portfolio Greenwood Village, CO 17,590,23517.6m $1.7bn $1.7bn 4.05% Added +711.2k +711,156
2 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.87% of their portfolio MILWAUKEE, WI 16,949,84616.9m $1.6bn $1.6bn 0.87% Added +4.1m +4,118,355
3 Creative Planning 0.69% of their portfolio OVERLAND PARK, KS 12,196,89412.2m $1.2bn $1.2bn 0.69% Reduced -363.7k -363,691
4 Wealthfront Advisers LLC 1.88% of their portfolio Palo Alto, CA 10,163,86710.2m $980.1m $980.1m 1.88% Added +93.7k +93,687
5 BANK OF AMERICA CORP /DE/ 0.06% of their portfolio CHARLOTTE, NC 9,829,1109.8m $947.8m $947.8m 0.06% Reduced -286.6k -286,634
6 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 9,292,1209.3m $896.0m $896.0m 0.05% Reduced -487.9k -487,882
7 State of New Jersey Common Pension Fund D 2.83% of their portfolio TRENTON, NJ 8,598,8698.6m $829.2m $829.2m 2.83% Unchanged
8 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 7,569,5397.6m $743.0m $743.0m 0.04% Added +218.7k +218,659
9 US BANCORP \DE\ 0.53% of their portfolio MINNEAPOLIS, MN 5,030,4395.0m $485.1m $485.1m 0.53% Reduced -490.9k -490,866
10 PRUDENTIAL FINANCIAL INC 0.52% of their portfolio NEWARK, NJ 4,918,7064.9m $474.3m $474.3m 0.52% Added +722.1k +722,085
11 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 3,989,5794.0m $384.7m $384.7m 0.07% Reduced -148.8k -148,755
12 Bank of New York Mellon Corp 0.05% of their portfolio NEW YORK, NY 3,430,9933.4m $330.9m $330.9m 0.05% Reduced -405 -405
13 Financial Engines Advisors L.L.C. 0.58% of their portfolio SANTA CLARA, CA 3,358,1643.4m $323.8m $323.8m 0.58% Reduced -802 -802
14 Cetera Investment Advisers 0.21% of their portfolio SCHAUMBURG, IL 2,439,2392.4m $235.2m $235.2m 0.21% Added +76.4k +76,352
15 LPL Financial LLC 0.05% of their portfolio FORT MILL, SC 2,331,6122.3m $224.8m $224.8m 0.05% Added +54.6k +54,607
16 Pure Financial Advisors, LLC 2.81% of their portfolio SAN DIEGO, CA 2,286,3352.3m $220.5m $220.5m 2.81% Added +73.8k +73,850
17 Mariner, LLC 0.23% of their portfolio Overland Park, KS 2,222,7992.2m $214.4m $214.4m 0.23% Added +102.8k +102,780
18 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 2,209,2952.2m $213.0m $213.0m 0.05% Added +54.9k +54,884
19 State of Tennessee, Department of Treasury 0.62% of their portfolio NASHVILLE, TN 2,181,1572.2m $210.3m $210.3m 0.62% Reduced -52.9k -52,866
20 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,765,9741.8m $170.3m $170.3m 0.02% Added +17.4k +17,410
21 Sand Hill Global Advisors, LLC 5.09% of their portfolio Palo Alto, CA 1,754,4121.8m $169.2m $169.2m 5.09% Added +13.0k +13,004
22 FIFTH THIRD BANCORP 0.26% of their portfolio CINCINNATI, OH 1,644,8291.6m $158.6m $158.6m 0.26% Reduced -32.9k -32,865
23 Ballentine Partners, LLC 1.90% of their portfolio Waltham, MA 1,609,9241.6m $155.2m $155.2m 1.90% Added +51.2k +51,246
24 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,591,5581.6m $153.5m $153.5m 0.03% Added +22.6k +22,650
25 VISTA CAPITAL PARTNERS, INC. 12.71% of their portfolio PORTLAND, OR 1,506,9761.5m $145.3m $145.3m 12.71% Added +58.6k +58,570
26 UBS Group AG 0.02% of their portfolio ZURICH, V8 1,506,5771.5m $145.3m $145.3m 0.02% Added +5.6k +5,623
27 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,502,9691.5m $144.9m $144.9m 0.03% Added +813.5k +813,491
28 Gibson Capital, LLC 22.07% of their portfolio WEXFORD, PA 1,395,2821.4m $134.5m $134.5m 22.07% Added +7.7k +7,672
29 Millburn Ridgefield LLC /DE/ 2.52% of their portfolio New York, NY 1,378,5751.4m $132.9m $132.9m 2.52% Reduced -14.6k -14,572
30 Catalyst Capital Advisors LLC 2.21% of their portfolio San Juan, PR 1,378,5751.4m $132.9m $132.9m 2.21% Reduced -14.6k -14,572
31 ASSETMARK, INC 0.22% of their portfolio CONCORD, CA 1,351,4591.4m $130.3m $130.3m 0.22% Added +486.6k +486,579
32 PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio BALTIMORE, MD 1,300,4071.3m $125.4m $125.4m 0.01% New
33 RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio ST. PETERSBURG, FL 1,259,8881.3m $121.5m $121.5m 0.03% Reduced -20.2k -20,166
34 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.08% of their portfolio Toronto, A6 1,059,7301.1m $102.2m $102.2m 0.08% Added +198.5k +198,524
35 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 1,027,6671.0m $99.1m $99.1m 0.05% Reduced -9.4k -9,444
36 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.15% of their portfolio PLYMOUTH, MN 937,292937.3k $89.8m $89.8m 0.15% Reduced -13.3k -13,344
37 Beacon Capital Management, Inc. 5.23% of their portfolio DAYTON, OH 896,485896.5k $86.4m $86.4m 5.23% Reduced -126.0k -125,987
38 Seven Post Investment Office LP 23.47% of their portfolio San Francisco, CA 857,363857.4k $82.7m $82.7m 23.47% Added +7.4k +7,423
39 SBI Okasan Asset Management Co.Ltd. 2.75% of their portfolio TOKYO, M0 853,650853.6k $83.8m $83.8m 2.75% New
40 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 842,116842.1k $81.2m $81.2m 0.03% Added +201.2k +201,230
41 Jefferies Financial Group Inc. 0.74% of their portfolio NEW YORK, NY 831,143831.1k $80.1m $80.1m 0.74% Added +29.0k +29,006
42 Cambridge Investment Research Advisors, Inc. 0.09% of their portfolio FAIRFIELD, IA 785,208785.2k $75.7m $75.7m 0.09% Added +451.1k +451,104
43 EVERGREEN CAPITAL MANAGEMENT LLC 1.32% of their portfolio Bellevue, WA 781,642781.6k $75.4m $75.4m 1.32% Added +22.0k +21,951
44 GLENMEDE TRUST CO NA 0.33% of their portfolio PHILADELPHIA, PA 775,853775.9k $74.8m $74.8m 0.33% Reduced -5.9k -5,941
45 Cerity Partners LLC 0.09% of their portfolio NEW YORK, NY 771,016771.0k $74.4m $74.4m 0.09% Added +145.0k +145,009
46 HighTower Advisors, LLC 0.07% of their portfolio CHICAGO, IL 741,178741.2k $71.5m $71.5m 0.07% Added +74.9k +74,860
47 Capital Investment Advisors, LLC 0.93% of their portfolio ATLANTA, GA 730,166730.2k $70.4m $70.4m 0.93% Added +36.5k +36,496
48 Pathstone Holdings, LLC 0.20% of their portfolio ENGLEWOOD, NJ 726,100726.1k $70.0m $70.0m 0.20% Added +46.4k +46,412
49 Corient Private Wealth LP 0.10% of their portfolio MIAMI, FL 719,290719.3k $69.4m $69.4m 0.10% Reduced -289.3k -289,275
50 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 718,232718.2k $69.3m $69.3m 0.06% Added +26.6k +26,605
51 OSAIC HOLDINGS, INC. 0.08% of their portfolio SCOTTSDALE, AZ 710,144710.1k $68.5m $68.5m 0.08% Added +87.4k +87,366
52 SUMITOMO LIFE INSURANCE CO 1.06% of their portfolio TOKYO, M0 671,894671.9k $64.8m $64.8m 1.06% Added +405.8k +405,811
53 COMMONWEALTH EQUITY SERVICES, LLC 0.08% of their portfolio WALTHAM, MA 631,341631.3k $60.9m $60.9m 0.08% Reduced -29.5k -29,470
54 REBALANCE, LLC 3.10% of their portfolio PALO ALTO, CA 613,696613.7k $59.2m $59.2m 3.10% Added +29.4k +29,401
55 Pennsylvania State University 22.98% of their portfolio University Park, PA 592,234592.2k $57.1m $57.1m 22.98% Unchanged
56 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.31% of their portfolio IRVING, TX 584,158584.2k $56.3m $56.3m 0.31% Reduced -20.9k -20,878
57 Glenview Trust Co 0.75% of their portfolio Louisville, KY 564,978565.0k $54.5m $54.5m 0.75% Added +20.4k +20,415
58 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 524,486524.5k $50.6m $50.6m 0.00% Added +267.8k +267,787
59 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 523,931523.9k $50.5m $50.5m 0.03% New
60 Rockefeller Capital Management L.P. 0.08% of their portfolio NEW YORK, NY 519,210519.2k $50.1m $50.1m 0.08% Added +10.1k +10,135
61 CITIZENS FINANCIAL GROUP INC/RI 0.57% of their portfolio PROVIDENCE, RI 492,781492.8k $47.5m $47.5m 0.57% Added +5.9k +5,929
62 PEAPACK GLADSTONE FINANCIAL CORP 0.54% of their portfolio BEDMINSTER, NJ 490,211490.2k $47.3m $47.3m 0.54% Added +12.4k +12,378
63 Savant Capital, LLC 0.14% of their portfolio ROCKFORD, IL 486,552486.6k $46.9m $46.9m 0.14% Added +397.2k +397,244
64 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 0.68% of their portfolio Seattle, WA 479,864479.9k $46.3m $46.3m 0.68% Added +24.4k +24,402
65 SCS Capital Management LLC 0.43% of their portfolio BOSTON, MA 473,126473.1k $45.6m $45.6m 0.43% Reduced -1.2k -1,211
66 MAI Capital Management 0.17% of their portfolio INDEPENDENCE, OH 471,382471.4k $45.5m $45.5m 0.17% Added +204.7k +204,709
67 MONETA GROUP INVESTMENT ADVISORS LLC 0.34% of their portfolio ST LOUIS, MO 470,354470.4k $45.4m $45.4m 0.34% Added +17.4k +17,359
68 OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC 2.49% of their portfolio SAN FRANCISCO, CA 464,333464.3k $44.8m $44.8m 2.49% Reduced -21.1k -21,138
69 Falcon Wealth Planning 2.83% of their portfolio Ontario, CA 463,481463.5k $44.7m $44.7m 2.83% Added +20.9k +20,936
70 Passive Capital Management, LLC. 12.00% of their portfolio BALTIMORE, MD 433,672433.7k $38.4m $38.4m 12.00% Reduced -78 -78
71 M&T Bank Corp 0.12% of their portfolio BUFFALO, NY 429,929429.9k $41.5m $41.5m 0.12% Added +69.1k +69,109
72 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 427,805427.8k $41.3m $41.3m 0.01% Added +15.2k +15,167
73 CAPTRUST FINANCIAL ADVISORS 0.06% of their portfolio RALEIGH, NC 425,480425.5k $41.0m $41.0m 0.06% Added +8.4k +8,351
74 PGIM Custom Harvest LLC 0.51% of their portfolio NEWARK, NJ 424,203424.2k $40.9m $40.9m 0.51% Added +10.1k +10,079
75 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 414,149414.1k $39.9m $39.9m 0.05% Added +5.6k +5,608
76 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 399,883399.9k $38.6m $38.6m 0.03% Added +1.0k +1,016
77 Empowered Funds, LLC 0.20% of their portfolio NEWTOWN SQUARE, PA 399,081399.1k $38.5m $38.5m 0.20% Added +153.5k +153,518
78 First Command Advisory Services, Inc. 0.22% of their portfolio FORT WORTH, TX 384,757384.8k $37.1m $37.1m 0.22% Reduced -186.1k -186,084
79 Garde Capital, Inc. 1.66% of their portfolio SEATTLE, WA 384,725384.7k $37.1m $37.1m 1.66% Added +8.9k +8,856
80 Focus Partners Wealth 0.04% of their portfolio ST LOUIS, MO 368,036368.0k $35.5m $35.5m 0.04% Reduced -7.0k -7,011
81 Prime Capital Investment Advisors, LLC 0.34% of their portfolio OVERLAND PARK, KS 361,861361.9k $34.9m $34.9m 0.34% Added +11.9k +11,921
82 Chandler Asset Management, Inc. 4.78% of their portfolio SAN DIEGO, CA 352,018352.0k $33.9m $33.9m 4.78% Reduced -6.2k -6,240
83 Ameritas Advisory Services, LLC 0.67% of their portfolio Lincoln, NE 342,483342.5k $33.0m $33.0m 0.67% Added +108.6k +108,632
84 Kestra Advisory Services, LLC 0.10% of their portfolio AUSTIN, TX 330,263330.3k $31.8m $31.8m 0.10% Added +147.6k +147,642
85 Comprehensive Financial Management LLC 1.04% of their portfolio Los Gatos, CA 328,338328.3k $31.7m $31.7m 1.04% Unchanged
86 HHM Wealth Advisors, LLC 3.09% of their portfolio CHATTANOOGA, TN 318,158318.2k $30.7m $30.7m 3.09% Added +13.9k +13,909
87 1832 Asset Management L.P. 0.04% of their portfolio TORONTO, A6 315,651315.7k $30.4m $30.4m 0.04% New
88 FOSTER & MOTLEY INC 1.39% of their portfolio CINCINNATI, OH 312,740312.7k $30.2m $30.2m 1.39% Added +13.1k +13,124
89 Steward Partners Investment Advisory, LLC 0.15% of their portfolio STAMFORD, CT 309,861309.9k $29.9m $29.9m 0.15% Reduced -327.8k -327,767
90 SAGE FINANCIAL GROUP INC 1.63% of their portfolio W. CONSHOHOCKEN, PA 305,846305.8k $29.5m $29.5m 1.63% Added +15.9k +15,882
91 First Financial Bankshares Inc 0.55% of their portfolio Abilene, TX 302,072302.1k $29.1m $29.1m 0.55% Added +3.7k +3,715
92 BECKER CAPITAL MANAGEMENT INC 0.78% of their portfolio Portland, OR 301,372301.4k $29.1m $29.1m 0.78% Reduced -2.1k -2,141
93 PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio DES MOINES, IA 299,656299.7k $28.9m $28.9m 0.01% Reduced -92.7k -92,720
94 Beacon Pointe Advisors, LLC 0.13% of their portfolio NEWPORT BEACH, CA 295,599295.6k $28.5m $28.5m 0.13% Reduced -8.3k -8,278
95 Kohmann Bosshard Financial Services, LLC 2.40% of their portfolio FAIRLAWN, OH 293,410293.4k $28.3m $28.3m 2.40% Added +15.5k +15,501
96 DecisionPoint Financial, LLC 5.26% of their portfolio MESA, AZ 293,151293.2k $28.4m $28.4m 5.26% Added +23.4k +23,436
97 PRESILIUM PRIVATE WEALTH, LLC 4.29% of their portfolio RADNOR, PA 289,502289.5k $27.9m $27.9m 4.29% Added +11.3k +11,306
98 Employees' Retirement Fund of the City of Fort Worth 9.74% of their portfolio FORT WORTH, TX 283,000283.0k $27.3m $27.3m 9.74% Added +200.0k +200,000
99 Man Group plc 0.05% of their portfolio LONDON, X0 282,369282.4k $27.2m $27.2m 0.05% Added +256.6k +256,634
100 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 280,100280.1k $27.0m $27.0m 0.02% Reduced -3.4m -3,380,500