Vault-13

VANGUARD INDEX FDS VBR

SM CP VAL ETF · ETP · CUSIP 922908611

1,533 institutional holders -61 vs Q4 2024
87,538,27587.5m shares reported held*
$16.2bnreported value*
69 new 593 added 582 reduced 119 sold out net sold ≈ $603.3m (-2.9m 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 ($10.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $185.44. Options: 3 managers hold calls ($7.2m notional), 3 hold puts ($1.3m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,090Q4 22: 1,221Q1 23: 1,209Q2 23: 1,239Q3 23: 1,241Q4 23: 1,386Q1 24: 1,379Q2 24: 1,372Q3 24: 1,433Q4 24: 1,594Q1 25: 1,5331,533Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 20221,090
Q4 20221,221
Q1 20231,209
Q2 20231,239
Q3 20231,241
Q4 20231,386
Q1 20241,379
Q2 20241,372
Q3 20241,433
Q4 20241,594
Q1 20251,533

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 23: 555 bought or addedQ2 23: 522 cut or sold outQ3 23: 565 bought or addedQ3 23: 494 cut or sold outQ3 23Q4 23: 606 bought or addedQ4 23: 527 cut or sold outQ1 24: 595 bought or addedQ1 24: 603 cut or sold outQ1 24Q2 24: 550 bought or addedQ2 24: 602 cut or sold outQ3 24: 645 bought or addedQ3 24: 557 cut or sold outQ3 24Q4 24: 714 bought or addedQ4 24: 511 cut or sold outQ1 25: 662 bought or addedQ1 25: 701 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023555522
Q3 2023565494
Q4 2023606527
Q1 2024595603
Q2 2024550602
Q3 2024645557
Q4 2024714511
Q1 2025662701

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ2 24 calls: $7.4mQ2 24 puts: $3.8mQ2 24P/C 0.51Q3 24 calls: $9.8mQ3 24 puts: $4.5mQ3 24P/C 0.45Q4 24 calls: $10.3mQ4 24 puts: $1.9mQ4 24P/C 0.18Q1 25 calls: $7.2mQ1 25 puts: $1.3mQ1 25P/C 0.18
Numbers
QuarterCallsPutsP/C
Q2 2024$7.4m$3.8m0.51
Q3 2024$9.8m$4.5m0.45
Q4 2024$10.3m$1.9m0.18
Q1 2025$7.2m$1.3m0.18

Biggest buyers

SOA Wealth Advisors, LLC. Added +366,047+366.0k
ASPIRIANT, LLC Added +317,301+317.3k
Wealthspire Advisors, LLC Added +182,424+182.4k
ASSETMARK, INC Added +176,559+176.6k
LPL Financial LLC Added +101,988+102.0k
Corient Private Wealth LP Added +80,050+80.0k
HighTower Advisors, LLC Added +76,483+76.5k
MORGAN STANLEY Added +75,488+75.5k
SEI INVESTMENTS CO Added +70,433+70.4k
Cetera Investment Advisers Added +68,145+68.1k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -1,451,913-1.5m
JONES FINANCIAL COMPANIES LLLP Reduced -1,089,005-1.1m
PARK AVENUE SECURITIES LLC Sold out -331,455-331.5k
Focus Partners Wealth Reduced -316,976-317.0k
OSAIC HOLDINGS, INC. Reduced -239,294-239.3k
Betterment LLC Reduced -193,719-193.7k
Henshaw Capital LLC Sold out -177,150-177.2k
Christopher J. Hasenberg, Inc Reduced -130,728-130.7k
Savant Capital, LLC Reduced -125,283-125.3k
BANK OF MONTREAL /CAN/ Reduced -117,385-117.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $5.1m27.2k shares
CITADEL ADVISORS LLC Reduced $1.2m6.2k shares
JANE STREET GROUP, LLC Added $968.7k5.2k shares

Biggest puts

CITADEL ADVISORS LLC Reduced $745.2k4.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $428.5k2.3k shares
BANK OF AMERICA CORP /DE/ New $130.4k700 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.28% of their portfolio CHARLOTTE, NC 17,000,30917.0m $3.2bn $3.2bn 0.28% Reduced -1.5m -1,451,913
2 ASSETMARK, INC 2.14% of their portfolio CONCORD, CA 4,174,7654.2m $777.7m $777.7m 2.14% Added +176.6k +176,559
3 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 3,932,7053.9m $732.6m $732.6m 0.05% Added +75.5k +75,488
4 Betterment LLC 1.48% of their portfolio NEW YORK, NY 3,353,0533.4m $624.6m $624.6m 1.48% Reduced -193.7k -193,719
5 WELLS FARGO & COMPANY/MN 0.08% of their portfolio SAN FRANCISCO, CA 1,798,0461.8m $335.0m $335.0m 0.08% Added +16.8k +16,816
6 ENVESTNET ASSET MANAGEMENT INC 0.11% of their portfolio Berwyn, PA 1,773,5781.8m $330.4m $330.4m 0.11% Reduced -104.8k -104,802
7 CAPTRUST FINANCIAL ADVISORS 0.82% of their portfolio RALEIGH, NC 1,752,2271.8m $326.4m $326.4m 0.82% Added +58.2k +58,237
8 UBS Group AG 0.07% of their portfolio ZURICH, V8 1,670,8511.7m $311.3m $311.3m 0.07% Reduced -51.6k -51,623
9 ASPIRIANT, LLC 9.97% of their portfolio San Francisco, CA 1,541,4321.5m $287.2m $287.2m 9.97% Added +317.3k +317,301
10 LPL Financial LLC 0.10% of their portfolio FORT MILL, SC 1,389,8271.4m $258.9m $258.9m 0.10% Added +102.0k +101,988
11 SEI INVESTMENTS CO 0.33% of their portfolio OAKS, PA 1,385,3321.4m $258.1m $258.1m 0.33% Added +70.4k +70,433
12 JONES FINANCIAL COMPANIES LLLP 0.22% of their portfolio DES PERES, MO 1,311,5871.3m $243.4m $243.4m 0.22% Reduced -1.1m -1,089,005
13 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 967,699967.7k $180.3m $180.3m 0.07% Reduced -15.2k -15,170
14 MATHER GROUP, LLC. 1.89% of their portfolio CHICAGO, IL 876,639876.6k $163.3m $163.3m 1.89% Added +18.3k +18,311
15 PNC Financial Services Group, Inc. 0.08% of their portfolio Pittsburgh, PA 798,111798.1k $148.7m $148.7m 0.08% Added +6.7k +6,657
16 CHOREO, LLC 2.29% of their portfolio ROCKFORD, IL 792,246792.2k $147.6m $147.6m 2.29% Reduced -30.0k -29,966
17 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 779,514779.5k $145.2m $145.2m 0.04% Added +23.0k +22,992
18 TIAA TRUST, NATIONAL ASSOCIATION 0.45% of their portfolio CHARLOTTE, NC 774,998775.0k $144.4m $144.4m 0.45% Added +13.4k +13,403
19 HighTower Advisors, LLC 0.20% of their portfolio CHICAGO, IL 773,070773.1k $144.0m $144.0m 0.20% Added +76.5k +76,483
20 COMMONWEALTH EQUITY SERVICES, LLC 0.20% of their portfolio WALTHAM, MA 748,249748.2k $139.4m $139.4m 0.20% Added +33.6k +33,605
21 Allworth Financial LP 0.76% of their portfolio FOLSOM, CA 745,659745.7k $134.0m $134.0m 0.76% Added +2.6k +2,642
22 Cetera Investment Advisers 0.26% of their portfolio SCHAUMBURG, IL 718,232718.2k $133.8m $133.8m 0.26% Added +68.1k +68,145
23 Focus Partners Wealth 0.31% of their portfolio ST LOUIS, MO 667,709667.7k $124.4m $124.4m 0.31% Reduced -317.0k -316,976
24 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 648,984649.0k $120.9m $120.9m 0.01% Added +34.7k +34,660
25 Efficient Advisors, LLC 6.89% of their portfolio BEAVERTON, OR 567,895567.9k $105.8m $105.8m 6.89% Added +15.4k +15,376
26 Mill Creek Capital Advisors, LLC 2.22% of their portfolio Conshohocken, PA 491,142491.1k $91.5m $91.5m 2.22% Added +601 +601
27 OSAIC HOLDINGS, INC. 0.20% of their portfolio SCOTTSDALE, AZ 486,159486.2k $90.7m $90.7m 0.20% Reduced -239.3k -239,294
28 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 485,487485.5k $90.4m $90.4m 0.02% Added +11.7k +11,687
29 Mariner, LLC 0.13% of their portfolio Overland Park, KS 435,333435.3k $81.1m $81.1m 0.13% Added +15.1k +15,093
30 RWA WEALTH PARTNERS, LLC 1.02% of their portfolio BOSTON, MA 432,678432.7k $80.6m $80.6m 1.02% Added +21.6k +21,632
31 Rockefeller Capital Management L.P. 0.19% of their portfolio NEW YORK, NY 420,364420.4k $78.3m $78.3m 0.19% Reduced -1.8k -1,813
32 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 411,206411.2k $76.6m $76.6m 0.04% Reduced -117.4k -117,385
33 STEPHENS GROUP ASSET MANAGEMENT, LLC 6.07% of their portfolio LITTLE ROCK, AR 403,995404.0k $75.3m $75.3m 6.07% Added +21.4k +21,401
34 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.64% of their portfolio IRVING, TX 402,781402.8k $75.0m $75.0m 0.64% Reduced -18.7k -18,692
35 MONETA GROUP INVESTMENT ADVISORS LLC 1.01% of their portfolio ST LOUIS, MO 391,713391.7k $73.0m $73.0m 1.01% Added +4.5k +4,466
36 SOA Wealth Advisors, LLC. 0.77% of their portfolio NEW YORK, NY 382,521382.5k $3.7m $3.7m 0.77% Added +366.0k +366,047
37 Retirement Systems of Alabama 0.28% of their portfolio MONTGOMERY, AL 382,480382.5k $71.3m $71.3m 0.28% Unchanged
38 Wealthspire Advisors, LLC 0.39% of their portfolio NEW YORK, NY 354,264354.3k $66.0m $66.0m 0.39% Added +182.4k +182,424
39 Retirement Investment Advisors, Inc. 6.68% of their portfolio OKLAHOMA CITY, OK 354,102354.1k $66.0m $66.0m 6.68% Added +19.2k +19,208
40 Modera Wealth Management, LLC 0.88% of their portfolio WESTWOOD, NJ 350,900350.9k $65.4m $65.4m 0.88% Reduced -3.5k -3,489
41 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.05% of their portfolio MILWAUKEE, WI 336,371336.4k $62.7m $62.7m 0.05% Added +20.5k +20,516
42 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 327,501327.5k $61.0m $61.0m 0.01% Added +4.9k +4,879
43 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.12% of their portfolio PLYMOUTH, MN 326,772326.8k $60.9m $60.9m 0.12% Reduced -4.6k -4,573
44 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 322,604322.6k $60.1m $60.1m 0.06% Added +6.7k +6,662
45 Creative Planning 0.06% of their portfolio OVERLAND PARK, KS 320,032320.0k $59.6m $59.6m 0.06% Reduced -7.9k -7,914
46 Cresset Asset Management, LLC 0.29% of their portfolio Chicago, IL 308,620308.6k $57.5m $57.5m 0.29% Added +14.1k +14,116
47 Rodgers & Associates, LTD 6.88% of their portfolio Lancaster, PA 303,094303.1k $56.5m $56.5m 6.88% Added +9.3k +9,323
48 1832 Asset Management L.P. 0.11% of their portfolio TORONTO, A6 299,276299.3k $55.8m $55.8m 0.11% Added +16.3k +16,274
49 Mokosak Advisory Group, LLC 17.11% of their portfolio URBANDALE, IA 297,399297.4k $55.4m $55.4m 17.11% Added +8.2k +8,239
50 Verus Financial Partners, Inc. 5.79% of their portfolio RICHMOND, VA 292,782292.8k $50.7m $50.7m 5.79% Added +960 +960
51 Bragg Financial Advisors, Inc 2.23% of their portfolio CHARLOTTE, NC 290,993291.0k $54.2m $54.2m 2.23% Added +13.4k +13,410
52 JMG Financial Group, Ltd. 1.80% of their portfolio DOWNERS GROVE, IL 286,017286.0k $53.3m $53.3m 1.80% Added +4.4k +4,421
53 Mason Investment Advisory Services, Inc. 3.18% of their portfolio RESTON, VA 282,919282.9k $52.7m $52.7m 3.18% Added +310 +310
54 Financial Advisory Corp 8.28% of their portfolio Grand Rapids, MI 268,595268.6k $50.0m $50.0m 8.28% Added +22.5k +22,504
55 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 268,573268.6k $50.0m $50.0m 0.01% Reduced -10.9k -10,884
56 STEPHENS INC /AR/ 0.72% of their portfolio LITTLE ROCK, AR 265,559265.6k $49.5m $49.5m 0.72% Added +35.9k +35,856
57 EXENCIAL WEALTH ADVISORS, LLC 1.81% of their portfolio OKLAHOMA CITY, OK 262,816262.8k $49.0m $49.0m 1.81% Reduced -2.3k -2,299
58 Savant Capital, LLC 0.41% of their portfolio ROCKFORD, IL 261,507261.5k $48.7m $48.7m 0.41% Reduced -125.3k -125,283
59 BAILARD, INC. 1.18% of their portfolio Foster City, CA 245,790245.8k $45.8m $45.8m 1.18% Added +9.3k +9,272
60 Zhang Financial LLC 2.41% of their portfolio PORTAGE, MI 245,033245.0k $45.6m $45.6m 2.41% Added +2.4k +2,405
61 Center for Financial Planning, Inc. 5.82% of their portfolio SOUTHFIED, MI 244,343244.3k $45.5m $45.5m 5.82% Reduced -3.1k -3,051
62 MML INVESTORS SERVICES, LLC 0.15% of their portfolio SPRINGFIELD, MA 242,949242.9k $45.3m $45.3m 0.15% Reduced -22.4k -22,423
63 Cerity Partners LLC 0.09% of their portfolio NEW YORK, NY 241,559241.6k $45.0m $45.0m 0.09% Reduced -14.7k -14,734
64 THOMPSON SIEGEL & WALMSLEY LLC 0.75% of their portfolio RICHMOND, VA 238,493238.5k $44.4m $44.4m 0.75% Added +244 +244
65 INSPIRION WEALTH ADVISORS, LLC 6.07% of their portfolio LIBERTYVILLE, IL 234,633234.6k $43.7m $43.7m 6.07% Added +3.5k +3,488
66 MERCER GLOBAL ADVISORS INC /ADV 0.10% of their portfolio DENVER, CO 228,959229.0k $42.6m $42.6m 0.10% Added +47.6k +47,570
67 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 221,825221.8k $41.3m $41.3m 0.07% Reduced -8.9k -8,859
68 Corient Private Wealth LP 0.07% of their portfolio MIAMI, FL 220,963221.0k $41.2m $41.2m 0.07% Added +80.0k +80,050
69 Abacus Planning Group, Inc. 7.09% of their portfolio COLUMBIA, SC 217,207217.2k $40.5m $40.5m 7.09% Reduced -5.1k -5,143
70 University of Maryland Foundation, Inc. 24.75% of their portfolio ADELPHI, MD 208,177208.2k $38.8m $38.8m 24.75% Unchanged
71 Foster Group, Inc. 1.43% of their portfolio WEST DES MOINES, IA 205,279205.3k $38.2m $38.2m 1.43% Reduced -4.4k -4,430
72 Summit Financial, LLC 1.00% of their portfolio PARSIPPANY, NJ 191,374191.4k $35.7m $35.7m 1.00% Reduced -6.1k -6,133
73 Cambridge Investment Research Advisors, Inc. 0.12% of their portfolio FAIRFIELD, IA 185,397185.4k $34.5m $34.5m 0.12% Added +7.2k +7,232
74 25 LLC 14.21% of their portfolio ST. LOUIS, MO 184,400184.4k $34.4m $34.4m 14.21% Added +4.2k +4,157
75 Comprehensive Financial Management LLC 1.08% of their portfolio Los Gatos, CA 184,376184.4k $34.3m $34.3m 1.08% Unchanged
76 Equitable Holdings, Inc. 0.33% of their portfolio NEW YORK, NY 183,902183.9k $34.3m $34.3m 0.33% Reduced -22.1k -22,085
77 Opal Wealth Advisors, LLC 9.93% of their portfolio JERICHO, NY 172,892172.9k $32.2m $32.2m 9.93% Added +49.9k +49,884
78 Strategies Wealth Advisors, LLC 3.89% of their portfolio GRAND RAPIDS, MI 170,901170.9k $31.8m $31.8m 3.89% Added +5.9k +5,920
79 Waldron Private Wealth LLC 1.48% of their portfolio BRIDGEVILLE, PA 168,213168.2k $31.3m $31.3m 1.48% Reduced -4.8k -4,761
80 FMR LLC 0.00% of their portfolio BOSTON, MA 165,087165.1k $30.8m $30.8m 0.00% Reduced -4.8k -4,827
81 Sanctuary Advisors, LLC 0.20% of their portfolio INDIANAPOLIS, IN 152,824152.8k $28.5m $28.5m 0.20% Added +3.9k +3,867
82 Asset Management Group, Inc. 5.19% of their portfolio STAMFORD, CT 150,689150.7k $28.1m $28.1m 5.19% Added +3.2k +3,225
83 US BANCORP \DE\ 0.04% of their portfolio MINNEAPOLIS, MN 146,003146.0k $27.2m $27.2m 0.04% Added +8.7k +8,671
84 NATIXIS ADVISORS, LLC 0.05% of their portfolio Boston, MA 143,598143.6k $26.8m $26.8m 0.05% Reduced -18.0k -18,026
85 NewEdge Advisors, LLC 0.16% of their portfolio NEW ORLEANS, LA 141,903141.9k $26.4m $26.4m 0.16% Added +1.1k +1,118
86 Focus Partners Advisor Solutions, LLC 0.40% of their portfolio SAINT LOUIS, MO 140,545140.5k $26.2m $26.2m 0.40% Added +7.1k +7,069
87 COMERICA BANK 0.11% of their portfolio DALLAS, TX 140,535140.5k $26.2m $26.2m 0.11% Reduced -364 -364
88 Sequoia Financial Advisors, LLC 0.20% of their portfolio Akron, OH 140,404140.4k $26.2m $26.2m 0.20% Reduced -40.8k -40,849
89 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 140,346140.3k $26.1m $26.1m 0.05% Reduced -12.7k -12,736
90 Coastline Trust Co 3.24% of their portfolio PROVIDENCE, RI 139,824139.8k $26.0m $26.0m 3.24% Reduced -975 -975
91 Marotta Asset Management 5.40% of their portfolio CHARLOTTESVILLE, VA 137,007137.0k $27.5m $27.5m 5.40% Added +6.9k +6,872
92 Sepio Capital, LP 2.01% of their portfolio Salt Lake City, UT 136,478136.5k $25.4m $25.4m 2.01% Added +8.7k +8,683
93 Northwest Quadrant Wealth Management, LLC 5.89% of their portfolio BEND, OR 134,635134.6k $25.1m $25.1m 5.89% Added +808 +808
94 Safeguard Financial, LLC 5.40% of their portfolio MINOCQUA, WI 132,402132.4k $24.7m $24.7m 5.40% Added +6.1k +6,147
95 Wealth Architects, LLC 2.62% of their portfolio MOUNTAIN VIEW, CA 127,552127.6k $23.8m $23.8m 2.62% Reduced -2.0k -2,014
96 McAdam, LLC 1.46% of their portfolio Philadelphia, PA 126,938126.9k $23.6m $23.6m 1.46% Reduced -1.1k -1,073
97 Private Advisor Group, LLC 0.14% of their portfolio MORRISTOWN, NJ 126,174126.2k $23.5m $23.5m 0.14% Added +4.2k +4,158
98 Pasadena Private Wealth, LLC 4.47% of their portfolio PASADENA, CA 124,442124.4k $23.2m $23.2m 4.47% Added +6.6k +6,596
99 Brickley Wealth Management 4.78% of their portfolio SAN MATEO, CA 123,659123.7k $23.0m $23.0m 4.78% Added +168 +168
100 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 0.59% of their portfolio Seattle, WA 123,224123.2k $23.0m $23.0m 0.59% Added +7.3k +7,312