Vault-13

VANGUARD INDEX FDS VBR

SM CP VAL ETF · ETP · CUSIP 922908611

1,386 institutional holders +145 vs Q3 2023
92,907,76592.9m shares reported held*
$16.7bnreported value*
101 new 505 added 470 reduced 57 sold out net bought ≈ $729.1m (+4.1m 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 ($52.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $179.85. Options: 3 managers hold calls ($31.7m notional), 3 hold puts ($6.1m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,090Q4 22: 1,221Q1 23: 1,209Q2 23: 1,239Q3 23: 1,241Q4 23: 1,3861,386Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 20221,090
Q4 20221,221
Q1 20231,209
Q2 20231,239
Q3 20231,241
Q4 20231,386

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 22: 586 bought or addedQ4 22: 426 cut or sold outQ4 22Q1 23: 569 bought or addedQ1 23: 498 cut or sold outQ1 23Q2 23: 555 bought or addedQ2 23: 522 cut or sold outQ2 23Q3 23: 565 bought or addedQ3 23: 494 cut or sold outQ3 23Q4 23: 606 bought or addedQ4 23: 527 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022586426
Q1 2023569498
Q2 2023555522
Q3 2023565494
Q4 2023606527

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ1 23 calls: $10.7mQ1 23 puts: $2.4mQ1 23P/C 0.22Q2 23 calls: $9.6mQ2 23 puts: $7.5mQ2 23P/C 0.78Q3 23 calls: $10.0mQ3 23 puts: $3.4mQ3 23P/C 0.34Q4 23 calls: $31.7mQ4 23 puts: $6.1mQ4 23P/C 0.19
Numbers
QuarterCallsPutsP/C
Q1 2023$10.7m$2.4m0.22
Q2 2023$9.6m$7.5m0.78
Q3 2023$10.0m$3.4m0.34
Q4 2023$31.7m$6.1m0.19

Biggest buyers

MORGAN STANLEY Added +4,685,076+4.7m
GOLDMAN SACHS GROUP INC Added +907,771+907.8k
JPMORGAN CHASE & CO Added +797,144+797.1k
1832 Asset Management L.P. Added +319,942+319.9k
CAPTRUST FINANCIAL ADVISORS Added +301,942+301.9k
Atria Investments, Inc Added +174,214+174.2k
ASSETMARK, INC Added +147,945+147.9k
Bishop & Co Investment Management, LLC Added +123,383+123.4k
JMG Financial Group, Ltd. Added +101,352+101.4k
Cerity Partners LLC Added +100,357+100.4k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -861,705-861.7k
Hackensack Meridian Health, Inc. Sold out -780,201-780.2k
ENVESTNET ASSET MANAGEMENT INC Reduced -454,897-454.9k
OSAIC HOLDINGS, INC. Reduced -394,531-394.5k
UNITED CAPITAL FINANCIAL ADVISORS, LLC Reduced -331,027-331.0k
BESSEMER GROUP INC Reduced -304,898-304.9k
PNC Financial Services Group, Inc. Reduced -259,751-259.8k
Pacific Life Fund Advisors LLC Sold out -199,779-199.8k
Retirement Investment Advisors, Inc. Reduced -169,872-169.9k
UBS Group AG Reduced -114,671-114.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $29.7m165.2k shares
CITADEL ADVISORS LLC Reduced $1.9m10.7k shares
Cutler Group LLC / CA Reduced $90.0k6.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $4.6m25.8k shares
CITADEL ADVISORS LLC Added $1.5m8.3k shares
Cutler Group LLC / CA Added $1.0k1.9k 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 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.22% of their portfolio CHARLOTTE, NC 10,734,78910.7m $1.9bn $1.9bn 0.22% Reduced -861.7k -861,705
2 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 8,567,8608.6m $1.5bn $1.5bn 0.07% Added +4.7m +4,685,076
3 Betterment LLC 4.18% of their portfolio NEW YORK, NY 8,075,7118.1m $1.5bn $1.5bn 4.18% Added +76.4k +76,390
4 ASSETMARK, INC 2.16% of their portfolio CONCORD, CA 3,319,0943.3m $597.3m $597.3m 2.16% Added +147.9k +147,945
5 JONES FINANCIAL COMPANIES LLLP 0.88% of their portfolio DES PERES, MO 3,255,2773.3m $585.9m $585.9m 0.88% Reduced -20.4k -20,430
6 ENVESTNET ASSET MANAGEMENT INC 0.19% of their portfolio Berwyn, PA 2,578,7882.6m $464.1m $464.1m 0.19% Reduced -454.9k -454,897
7 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 2,011,2052.0m $362.0m $362.0m 0.08% Added +907.8k +907,771
8 WELLS FARGO & COMPANY/MN 0.08% of their portfolio SAN FRANCISCO, CA 1,534,2131.5m $276.1m $276.1m 0.08% Reduced -20.2k -20,180
9 UBS Group AG 0.11% of their portfolio ZURICH, V8 1,488,2331.5m $267.8m $267.8m 0.11% Reduced -114.7k -114,671
10 MATHER GROUP, LLC. 4.07% of their portfolio CHICAGO, IL 1,440,2321.4m $259.2m $259.2m 4.07% Reduced -2.7k -2,710
11 SEI INVESTMENTS CO 0.35% of their portfolio OAKS, PA 1,207,3151.2m $217.3m $217.3m 0.35% Added +52.4k +52,424
12 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,108,3621.1m $199.5m $199.5m 0.01% Added +797.1k +797,144
13 LPL Financial LLC 0.12% of their portfolio FORT MILL, SC 1,101,0531.1m $198.2m $198.2m 0.12% Added +23.6k +23,592
14 PNC Financial Services Group, Inc. 0.14% of their portfolio Pittsburgh, PA 1,023,6851.0m $184.2m $184.2m 0.14% Reduced -259.8k -259,751
15 CHOREO, LLC 4.60% of their portfolio ROCKFORD, IL 943,255943.3k $169.8m $169.8m 4.60% Reduced -1.2k -1,189
16 OSAIC HOLDINGS, INC. 0.29% of their portfolio SCOTTSDALE, AZ 935,559935.6k $168.4m $168.4m 0.29% Reduced -394.5k -394,531
17 HighTower Advisors, LLC 0.23% of their portfolio CHICAGO, IL 769,151769.2k $138.4m $138.4m 0.23% Reduced -64.0k -64,040
18 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 760,577760.6k $136.9m $136.9m 0.04% Added +49.6k +49,572
19 ASPIRIANT, LLC 6.09% of their portfolio San Francisco, CA 750,786750.8k $135.1m $135.1m 6.09% Added +25.9k +25,950
20 Allworth Financial LP 0.94% of their portfolio FOLSOM, CA 680,439680.4k $122.5m $122.5m 0.94% Reduced -3.1k -3,101
21 TIAA TRUST, NATIONAL ASSOCIATION 0.39% of their portfolio CHARLOTTE, NC 651,149651.1k $117.2m $117.2m 0.39% Added +49.7k +49,710
22 Efficient Advisors, LLC 7.32% of their portfolio BEAVERTON, OR 602,531602.5k $108.4m $108.4m 7.32% Reduced -29.9k -29,879
23 COMMONWEALTH EQUITY SERVICES, LLC 0.20% of their portfolio WALTHAM, MA 599,820599.8k $108.0m $108.0m 0.20% Added +1.1k +1,108
24 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 530,283530.3k $95.4m $95.4m 0.02% Reduced -18.3k -18,295
25 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 506,077506.1k $92.1m $92.1m 0.03% Reduced -7.8k -7,804
26 CAPTRUST FINANCIAL ADVISORS 0.31% of their portfolio RALEIGH, NC 503,513503.5k $90.6m $90.6m 0.31% Added +301.9k +301,942
27 Symmetry Partners, LLC 4.82% of their portfolio GLASTONBURY, CT 494,803494.8k $89.2m $89.2m 4.82% Added +4.4k +4,382
28 Mill Creek Capital Advisors, LLC 2.60% of their portfolio Conshohocken, PA 488,210488.2k $87.9m $87.9m 2.60% Added +1.5k +1,516
29 Raymond James Financial Services Advisors, Inc. 0.14% of their portfolio ST. PETERSBURG, FL 473,267473.3k $85.2m $85.2m 0.14% Reduced -53.4k -53,448
30 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.69% of their portfolio IRVING, TX 460,968461.0k $83.0m $83.0m 0.69% Reduced -331.0k -331,027
31 Savant Capital, LLC 1.01% of their portfolio ROCKFORD, IL 436,366436.4k $78.5m $78.5m 1.01% Reduced -4.8k -4,794
32 RAYMOND JAMES & ASSOCIATES 0.06% of their portfolio ST PETERSBURG, FL 417,822417.8k $75.2m $75.2m 0.06% Added +61.4k +61,389
33 Rockefeller Capital Management L.P. 0.25% of their portfolio NEW YORK, NY 412,445412.4k $74.2m $74.2m 0.25% Added +11.9k +11,870
34 Cetera Advisor Networks LLC 0.41% of their portfolio EL SEGUNDO, CA 410,063410.1k $73.8m $73.8m 0.41% Reduced -17.4k -17,375
35 Foster Group, Inc. 3.97% of their portfolio WEST DES MOINES, IA 407,226407.2k $64.9m $64.9m 3.97% Unchanged
36 Retirement Systems of Alabama 0.29% of their portfolio MONTGOMERY, AL 382,480382.5k $68.8m $68.8m 0.29% Unchanged
37 Comprehensive Financial Management LLC 2.40% of their portfolio Los Gatos, CA 377,147377.1k $67.9m $67.9m 2.40% Reduced -121 -121
38 STEPHENS GROUP ASSET MANAGEMENT, LLC 6.54% of their portfolio LITTLE ROCK, AR 372,799372.8k $67.1m $67.1m 6.54% Added +6.5k +6,518
39 Mariner, LLC 0.16% of their portfolio Overland Park, KS 368,110368.1k $66.2m $66.2m 0.16% Reduced -7.6k -7,620
40 RWA WEALTH PARTNERS, LLC 0.93% of their portfolio BOSTON, MA 360,429360.4k $64.9m $64.9m 0.93% Added +10.8k +10,762
41 PDS Planning, Inc 7.30% of their portfolio DUBLIN, OH 356,056356.1k $64.1m $64.1m 7.30% Added +9.3k +9,299
42 EXENCIAL WEALTH ADVISORS, LLC 2.51% of their portfolio OKLAHOMA CITY, OK 341,425341.4k $61.4m $61.4m 2.51% Added +1.2k +1,175
43 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 340,739340.7k $61.3m $61.3m 0.02% Reduced -24.7k -24,699
44 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.07% of their portfolio MILWAUKEE, WI 338,094338.1k $60.8m $60.8m 0.07% Reduced -77.8k -77,804
45 1832 Asset Management L.P. 0.11% of their portfolio TORONTO, A6 320,100320.1k $57.6m $57.6m 0.11% Added +319.9k +319,942
46 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.17% of their portfolio PLYMOUTH, MN 316,439316.4k $56.9m $56.9m 0.17% Reduced -3.4k -3,380
47 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 298,940298.9k $53.8m $53.8m 0.07% Added +15.0k +15,011
48 Rodgers & Associates, LTD 7.23% of their portfolio Lancaster, PA 296,187296.2k $53.3m $53.3m 7.23% Added +11.4k +11,356
49 Verus Financial Partners, Inc. 6.42% of their portfolio RICHMOND, VA 291,207291.2k $51.9m $51.9m 6.42% Reduced -12.9k -12,855
50 JMG Financial Group, Ltd. 2.17% of their portfolio DOWNERS GROVE, IL 287,067287.1k $51.7m $51.7m 2.17% Added +101.4k +101,352
51 Mason Investment Advisory Services, Inc. 3.72% of their portfolio RESTON, VA 281,119281.1k $50.6m $50.6m 3.72% Reduced -3.1k -3,095
52 Modera Wealth Management, LLC 0.83% of their portfolio WESTWOOD, NJ 279,987280.0k $50.4m $50.4m 0.83% Added +2.6k +2,615
53 Retirement Investment Advisors, Inc. 7.00% of their portfolio OKLAHOMA CITY, OK 271,724271.7k $48.9m $48.9m 7.00% Reduced -169.9k -169,872
54 Mokosak Advisory Group, LLC 17.02% of their portfolio URBANDALE, IA 263,688263.7k $47.5m $47.5m 17.02% Added +6.2k +6,224
55 MML INVESTORS SERVICES, LLC 0.22% of their portfolio SPRINGFIELD, MA 262,575262.6k $47.3m $47.3m 0.22% Added +23.5k +23,524
56 LINCOLN NATIONAL CORP 0.82% of their portfolio RADNOR, PA 260,501260.5k $46.9m $46.9m 0.82% Added +10.2k +10,167
57 Bragg Financial Advisors, Inc 2.18% of their portfolio CHARLOTTE, NC 254,828254.8k $45.9m $45.9m 2.18% Added +9.6k +9,568
58 PARK AVENUE SECURITIES LLC 0.63% of their portfolio NEW YORK, NY 253,609253.6k $45.6m $45.6m 0.63% Added +13.4k +13,360
59 MONETA GROUP INVESTMENT ADVISORS LLC 0.90% of their portfolio ST LOUIS, MO 253,245253.2k $45.6m $45.6m 0.90% Added +41.2k +41,184
60 Zhang Financial LLC 3.79% of their portfolio PORTAGE, MI 245,495245.5k $44.2m $44.2m 3.79% Reduced -7.7k -7,711
61 Cresset Asset Management, LLC 0.27% of their portfolio Chicago, IL 243,006243.0k $43.7m $43.7m 0.27% Added +21.5k +21,503
62 Creative Planning 0.08% of their portfolio OVERLAND PARK, KS 242,409242.4k $43.6m $43.6m 0.08% Added +1.1k +1,057
63 Focus Partners Wealth 0.57% of their portfolio ST LOUIS, MO 240,438240.4k $43.3m $43.3m 0.57% First filing
64 Center for Financial Planning, Inc. 7.84% of their portfolio SOUTHFIED, MI 236,969237.0k $42.6m $42.6m 7.84% Added +21.1k +21,075
65 Equitable Holdings, Inc. 0.52% of their portfolio NEW YORK, NY 235,534235.5k $42.4m $42.4m 0.52% Added +35.4k +35,417
66 Cerity Partners LLC 0.14% of their portfolio NEW YORK, NY 232,324232.3k $41.8m $41.8m 0.14% Added +100.4k +100,357
67 Cambridge Investment Research Advisors, Inc. 0.18% of their portfolio FAIRFIELD, IA 231,905231.9k $41.7m $41.7m 0.18% Reduced -3.0k -3,016
68 Merriman Wealth Management, LLC 2.02% of their portfolio SEATTLE, WA 230,287230.3k $41.4m $41.4m 2.02% Reduced -40.4k -40,397
69 BAILARD, INC. 1.22% of their portfolio Foster City, CA 228,133228.1k $41.1m $41.1m 1.22% Added +6.8k +6,850
70 THOMPSON SIEGEL & WALMSLEY LLC 0.66% of their portfolio RICHMOND, VA 225,466225.5k $40.6m $40.6m 0.66% Reduced -186 -186
71 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 217,899217.9k $39.2m $39.2m 0.06% Reduced -199 -199
72 BUCKINGHAM STRATEGIC WEALTH, LLC 0.46% of their portfolio CLAYTON, MO 213,717213.7k $38.5m $38.5m 0.46% Added +1.4k +1,380
73 INSPIRION WEALTH ADVISORS, LLC 6.76% of their portfolio LIBERTYVILLE, IL 208,849208.8k $37.5m $37.5m 6.76% Added +6.6k +6,631
74 Atria Investments, Inc 0.57% of their portfolio Charlotte, NC 204,039204.0k $36.7m $36.7m 0.57% Added +174.2k +174,214
75 Waldron Private Wealth LLC 1.72% of their portfolio BRIDGEVILLE, PA 200,967201.0k $36.2m $36.2m 1.72% Added +10.7k +10,679
76 STEPHENS INC /AR/ 0.61% of their portfolio LITTLE ROCK, AR 195,584195.6k $35.2m $35.2m 0.61% Reduced -8.5k -8,510
77 Abacus Planning Group, Inc. 7.40% of their portfolio COLUMBIA, SC 195,028195.0k $35.1m $35.1m 7.40% Added +2.6k +2,631
78 Summit Financial, LLC 2.28% of their portfolio PARSIPPANY, NJ 193,647193.6k $34.9m $34.9m 2.28% Reduced -3.7k -3,663
79 Gallagher Fiduciary Advisors, LLC 1.18% of their portfolio ROLLING MEADOWS, IL 190,829190.8k $34.3m $34.3m 1.18% Reduced -6.3k -6,291
80 25 LLC 16.43% of their portfolio ST. LOUIS, MO 177,212177.2k $31.9m $31.9m 16.43% Added +5.2k +5,222
81 Henshaw Capital LLC 1.66% of their portfolio WOBURN, MA 177,150177.2k $31.9m $31.9m 1.66% Unchanged
82 Shepherd Financial Partners LLC 4.36% of their portfolio WINCHESTER, MA 170,550170.6k $30.7m $30.7m 4.36% Added +6.5k +6,536
83 Corient Private Wealth LP 0.06% of their portfolio MIAMI, FL 170,413170.4k $30.7m $30.7m 0.06% Added +40.6k +40,638
84 MERCER GLOBAL ADVISORS INC /ADV 0.09% of their portfolio DENVER, CO 160,319160.3k $28.9m $28.9m 0.09% Reduced -1.3k -1,291
85 Strategies Wealth Advisors, LLC 4.59% of their portfolio GRAND RAPIDS, MI 149,310149.3k $26.9m $26.9m 4.59% Added +6.0k +6,034
86 Coastline Trust Co 3.50% of their portfolio PROVIDENCE, RI 146,129146.1k $26.3m $26.3m 3.50% Added +5.1k +5,075
87 US BANCORP \DE\ 0.04% of their portfolio MINNEAPOLIS, MN 145,360145.4k $26.2m $26.2m 0.04% Reduced -20.1k -20,117
88 NewEdge Advisors, LLC 0.24% of their portfolio NEW ORLEANS, LA 143,301143.3k $25.6m $25.6m 0.24% Added +10.8k +10,752
89 Cetera Investment Advisers 0.21% of their portfolio SCHAUMBURG, IL 141,846141.8k $25.5m $25.5m 0.21% Added +3.9k +3,927
90 COMERICA BANK 0.12% of their portfolio DALLAS, TX 138,879138.9k $25.0m $25.0m 0.12% Added +2.5k +2,501
91 Asset Management Group, Inc. 4.98% of their portfolio STAMFORD, CT 138,046138.0k $24.8m $24.8m 4.98% Reduced -964 -964
92 PRUDENTIAL FINANCIAL INC 0.04% of their portfolio NEWARK, NJ 136,608136.6k $24.6m $24.6m 0.04% Reduced -12.6k -12,643
93 MBB PUBLIC MARKETS I LLC 1.52% of their portfolio CHICAGO, IL 136,543136.5k $24.6m $24.6m 1.52% Reduced -50.5k -50,471
94 Baird Financial Group, Inc. 0.06% of their portfolio MILWAUKEE, WI 135,320135.3k $24.4m $24.4m 0.06% Added +5.3k +5,296
95 Wealth Architects, LLC 3.41% of their portfolio MOUNTAIN VIEW, CA 134,867134.9k $24.3m $24.3m 3.41% Reduced -714 -714
96 Marotta Asset Management 5.18% of their portfolio CHARLOTTESVILLE, VA 134,058134.1k $24.1m $24.1m 5.18% Reduced -177 -177
97 Northwest Quadrant Wealth Management, LLC 5.94% of their portfolio BEND, OR 127,675127.7k $23.0m $23.0m 5.94% Reduced -148 -148
98 FIFTH THIRD BANCORP 0.10% of their portfolio CINCINNATI, OH 126,832126.8k $22.8m $22.8m 0.10% Reduced -2.4k -2,415
99 AE Wealth Management LLC 0.11% of their portfolio TOPEKA, KS 126,279126.3k $22.5m $22.5m 0.11% Added +4.7k +4,720
100 Bishop & Co Investment Management, LLC 9.34% of their portfolio Erie, PA 123,383123.4k $22.2m $22.2m 9.34% Added +123.4k +123,383