Vault-13

VANGUARD INDEX FDS VBR

SM CP VAL ETF · ETP · CUSIP 922908611

1,715 institutional holders +55 vs Q4 2025
85,205,21585.2m shares reported held*
$18.4bnreported value*
114 new 664 added 599 reduced 54 sold out net sold ≈ $506.1m (-2.7m 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 ($40.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $216.42. Options: 3 managers hold calls ($12.6m notional), 2 hold puts ($3.9m).

Trends to Q1 2026

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: 1,533Q2 25: 1,567Q3 25: 1,580Q4 25: 1,660Q1 26: 1,7151,715Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q2 20251,567
Q3 20251,580
Q4 20251,660
Q1 20261,715

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 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 25Q2 25: 623 bought or addedQ2 25: 706 cut or sold outQ3 25: 681 bought or addedQ3 25: 658 cut or sold outQ3 25Q4 25: 727 bought or addedQ4 25: 593 cut or sold outQ1 26: 778 bought or addedQ1 26: 653 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024550602
Q3 2024645557
Q4 2024714511
Q1 2025662701
Q2 2025623706
Q3 2025681658
Q4 2025727593
Q1 2026778653

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ2 25 calls: $10.5mQ2 25 puts: $604.5kQ2 25P/C 0.06Q3 25 calls: $13.7mQ3 25 puts: $1.7mQ3 25P/C 0.12Q4 25 calls: $11.7mQ4 25 puts: $2.4mQ4 25P/C 0.20Q1 26 calls: $12.6mQ1 26 puts: $3.9mQ1 26P/C 0.31
Numbers
QuarterCallsPutsP/C
Q2 2025$10.5m$604.5k0.06
Q3 2025$13.7m$1.7m0.12
Q4 2025$11.7m$2.4m0.20
Q1 2026$12.6m$3.9m0.31

Biggest buyers

PARK AVENUE SECURITIES LLC New +517,535+517.5k
ENVESTNET ASSET MANAGEMENT INC Added +265,870+265.9k
OSAIC HOLDINGS, INC. Added +200,249+200.2k
Discipline Wealth Solutions, LLC Added +150,327+150.3k
JONES FINANCIAL COMPANIES LLLP Added +138,935+138.9k
FIFTH THIRD BANCORP Added +138,931+138.9k
ASPIRIANT, LLC Added +118,821+118.8k
TrueWealth Financial Partners New +94,707+94.7k
UBS Group AG Added +85,254+85.3k
STEPHENS GROUP ASSET MANAGEMENT, LLC Added +81,618+81.6k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -2,598,354-2.6m
TIAA TRUST, NATIONAL ASSOCIATION Reduced -696,800-696.8k
Align Financial, LLC Reduced -457,758-457.8k
Corient Private Wealth LP Reduced -354,098-354.1k
ASSETMARK, INC Reduced -300,432-300.4k
Efficient Advisors, LLC Reduced -170,053-170.1k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -130,560-130.6k
SHUFRO ROSE & CO LLC Reduced -115,633-115.6k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -103,868-103.9k
Betterment LLC Reduced -102,538-102.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $6.5m29.8k shares
CITADEL ADVISORS LLC Added $4.5m20.8k shares
JANE STREET GROUP, LLC Added $1.6m7.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.1m9.6k shares
CITADEL ADVISORS LLC Added $1.8m8.4k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.21% of their portfolio CHARLOTTE, NC 13,400,99413.4m $2.9bn $2.9bn 0.21% Reduced -2.6m -2,598,354
2 ASSETMARK, INC 1.81% of their portfolio CONCORD, CA 4,079,0014.1m $886.2m $886.2m 1.81% Reduced -300.4k -300,432
3 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 3,816,6573.8m $829.2m $829.2m 0.05% Added +43.8k +43,823
4 Betterment LLC 1.20% of their portfolio NEW YORK, NY 2,917,1282.9m $633.7m $633.7m 1.20% Reduced -102.5k -102,538
5 ASPIRIANT, LLC 10.76% of their portfolio San Francisco, CA 1,739,5291.7m $377.9m $377.9m 10.76% Added +118.8k +118,821
6 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 1,690,0121.7m $367.2m $367.2m 0.07% Reduced -20.4k -20,374
7 ENVESTNET ASSET MANAGEMENT INC 0.09% of their portfolio Berwyn, PA 1,613,1571.6m $350.5m $350.5m 0.09% Added +265.9k +265,870
8 SEI INVESTMENTS CO 0.30% of their portfolio OAKS, PA 1,486,5611.5m $323.0m $323.0m 0.30% Reduced -6.2k -6,236
9 LPL Financial LLC 0.09% of their portfolio FORT MILL, SC 1,481,2101.5m $321.8m $321.8m 0.09% Added +42.5k +42,495
10 UBS Group AG 0.06% of their portfolio ZURICH, V8 1,476,4051.5m $320.7m $320.7m 0.06% Added +85.3k +85,254
11 CAPTRUST FINANCIAL ADVISORS 0.49% of their portfolio RALEIGH, NC 1,289,9201.3m $280.2m $280.2m 0.49% Added +53.9k +53,907
12 Cetera Investment Advisers 0.27% of their portfolio SCHAUMBURG, IL 1,164,8531.2m $253.1m $253.1m 0.27% Added +31.6k +31,607
13 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 1,023,4251.0m $222.3m $222.3m 0.07% Reduced -31.1k -31,127
14 JONES FINANCIAL COMPANIES LLLP 0.10% of their portfolio DES PERES, MO 984,444984.4k $209.9m $209.9m 0.10% Added +138.9k +138,935
15 PNC Financial Services Group, Inc. 0.11% of their portfolio Pittsburgh, PA 846,309846.3k $183.9m $183.9m 0.11% Added +21.1k +21,114
16 Focus Partners Wealth 0.20% of their portfolio ST LOUIS, MO 829,355829.4k $180.2m $180.2m 0.20% Reduced -20.2k -20,179
17 CHOREO, LLC 2.19% of their portfolio ROCKFORD, IL 822,036822.0k $178.6m $178.6m 2.19% Added +22.0k +21,991
18 Allworth Financial LP 0.72% of their portfolio FOLSOM, CA 817,672817.7k $177.6m $177.6m 0.72% Reduced -5.3k -5,272
19 OSAIC HOLDINGS, INC. 0.26% of their portfolio SCOTTSDALE, AZ 809,258809.3k $176.0m $176.0m 0.26% Added +200.2k +200,249
20 HighTower Advisors, LLC 0.18% of their portfolio CHICAGO, IL 770,962771.0k $167.5m $167.5m 0.18% Reduced -41.0k -40,973
21 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 752,625752.6k $159.8m $159.8m 0.01% Added +4.3k +4,280
22 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 675,388675.4k $146.8m $146.8m 0.03% Reduced -37.9k -37,916
23 TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC 0.55% of their portfolio CHARLOTTE, NC 652,542652.5k $141.8m $141.8m 0.55% First filing
24 MATHER GROUP, LLC. 1.36% of their portfolio CHICAGO, IL 629,499629.5k $136.8m $136.8m 1.36% Reduced -5.5k -5,483
25 COMMONWEALTH EQUITY SERVICES, LLC 0.17% of their portfolio WALTHAM, MA 563,135563.1k $122.3m $122.3m 0.17% Reduced -22.8k -22,779
26 RWA WEALTH PARTNERS, LLC 1.24% of their portfolio BOSTON, MA 522,808522.8k $113.6m $113.6m 1.24% Added +26.1k +26,084
27 PARK AVENUE SECURITIES LLC 0.88% of their portfolio NEW YORK, NY 517,535517.5k $112.4m $112.4m 0.88% New
28 MONETA GROUP INVESTMENT ADVISORS LLC 0.81% of their portfolio ST LOUIS, MO 495,314495.3k $107.6m $107.6m 0.81% Added +26.6k +26,614
29 Mill Creek Capital Advisors, LLC 2.18% of their portfolio Conshohocken, PA 488,482488.5k $106.1m $106.1m 2.18% Added +5.2k +5,249
30 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 482,517482.5k $104.8m $104.8m 0.02% Reduced -3.6k -3,628
31 Mariner, LLC 0.12% of their portfolio Overland Park, KS 473,557473.6k $102.8m $102.8m 0.12% Added +2.3k +2,274
32 Rockefeller Capital Management L.P. 0.18% of their portfolio NEW YORK, NY 464,272464.3k $100.9m $100.9m 0.18% Reduced -10.6k -10,560
33 STEPHENS GROUP ASSET MANAGEMENT, LLC 6.41% of their portfolio LITTLE ROCK, AR 462,819462.8k $100.5m $100.5m 6.41% Added +81.6k +81,618
34 Efficient Advisors, LLC 6.14% of their portfolio BEAVERTON, OR 397,932397.9k $86.5m $86.5m 6.14% Reduced -170.1k -170,053
35 Retirement Investment Advisors, Inc. 6.72% of their portfolio OKLAHOMA CITY, OK 393,959394.0k $83.4m $83.4m 6.72% Added +244 +244
36 JMG Financial Group, Ltd. 2.35% of their portfolio DOWNERS GROVE, IL 392,210392.2k $85.2m $85.2m 2.35% Added +4.1k +4,125
37 Retirement Systems of Alabama 0.28% of their portfolio MONTGOMERY, AL 382,480382.5k $83.1m $83.1m 0.28% Unchanged
38 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.05% of their portfolio MILWAUKEE, WI 379,793379.8k $82.5m $82.5m 0.05% Added +13.0k +13,013
39 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 374,081374.1k $81.3m $81.3m 0.03% Added +24.6k +24,578
40 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 371,224371.2k $80.7m $80.7m 0.07% Added +13.6k +13,571
41 SOA Wealth Advisors, LLC. 1.36% of their portfolio NEW YORK, NY 355,538355.5k $7.2m $7.2m 1.36% Added +111 +111
42 Corient Private Wealth LP 0.11% of their portfolio MIAMI, FL 339,841339.8k $73.5m $73.5m 0.11% Reduced -354.1k -354,098
43 Modera Wealth Management, LLC 0.88% of their portfolio WESTWOOD, NJ 339,227339.2k $73.7m $73.7m 0.88% Reduced -8.1k -8,142
44 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.16% of their portfolio PLYMOUTH, MN 324,522324.5k $70.9m $70.9m 0.16% Reduced -130.6k -130,560
45 Mokosak Advisory Group, LLC 17.65% of their portfolio URBANDALE, IA 324,494324.5k $70.5m $70.5m 17.65% Added +1.1k +1,076
46 Rodgers & Associates, LTD 7.02% of their portfolio Lancaster, PA 317,351317.4k $68.9m $68.9m 7.02% Reduced -1.7k -1,717
47 Cresset Asset Management, LLC 0.30% of their portfolio Chicago, IL 317,127317.1k $68.9m $68.9m 0.30% Added +9.1k +9,058
48 Creative Planning 0.05% of their portfolio OVERLAND PARK, KS 315,100315.1k $68.5m $68.5m 0.05% Added +3.1k +3,051
49 1832 Asset Management L.P. 0.09% of their portfolio TORONTO, A6 297,406297.4k $64.6m $64.6m 0.09% Reduced -4.2k -4,160
50 Bragg Financial Advisors, Inc 2.04% of their portfolio CHARLOTTE, NC 296,360296.4k $64.4m $64.4m 2.04% Added +1.1k +1,076
51 Financial Advisory Corp 8.59% of their portfolio Grand Rapids, MI 284,691284.7k $61.8m $61.8m 8.59% Reduced -45 -45
52 Mason Investment Advisory Services, Inc. 2.84% of their portfolio RESTON, VA 283,035283.0k $61.5m $61.5m 2.84% Reduced -2.2k -2,159
53 Savant Capital, LLC 0.29% of their portfolio ROCKFORD, IL 278,034278.0k $60.4m $60.4m 0.29% Reduced -3.7k -3,674
54 STEPHENS INC /AR/ 0.74% of their portfolio LITTLE ROCK, AR 273,733273.7k $59.5m $59.5m 0.74% Added +5.9k +5,889
55 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.36% of their portfolio IRVING, TX 271,341271.3k $58.9m $58.9m 0.36% Reduced -37.1k -37,111
56 Cerity Partners LLC 0.08% of their portfolio NEW YORK, NY 267,392267.4k $58.1m $58.1m 0.08% Added +1.2k +1,206
57 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 263,924263.9k $57.3m $57.3m 0.01% Reduced -52.7k -52,746
58 EXENCIAL WEALTH ADVISORS, LLC 1.72% of their portfolio OKLAHOMA CITY, OK 255,432255.4k $55.5m $55.5m 1.72% Reduced -8.0k -8,035
59 BAILARD, INC. 1.27% of their portfolio Foster City, CA 253,684253.7k $55.1m $55.1m 1.27% Added +4.5k +4,453
60 WIT, LLC 1.03% of their portfolio DISTRICT OF COLUMBIA, DC 250,167250.2k $54.3m $54.3m 1.03% Unchanged
61 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 248,140248.1k $53.9m $53.9m 0.07% Added +20.9k +20,923
62 THOMPSON SIEGEL & WALMSLEY LLC 0.91% of their portfolio RICHMOND, VA 237,827237.8k $51.7m $51.7m 0.91% Reduced -2.0k -2,020
63 Discipline Wealth Solutions, LLC 5.44% of their portfolio GREENVILLE, SC 237,724237.7k $51.6m $51.6m 5.44% Added +150.3k +150,327
64 Zhang Financial LLC 1.70% of their portfolio PORTAGE, MI 226,556226.6k $49.2m $49.2m 1.70% Reduced -314 -314
65 FIFTH THIRD BANCORP 0.09% of their portfolio CINCINNATI, OH 223,342223.3k $48.5m $48.5m 0.09% Added +138.9k +138,931
66 Summit Financial, LLC 0.60% of their portfolio PARSIPPANY, NJ 215,831215.8k $46.9m $46.9m 0.60% Added +19.5k +19,510
67 Abacus Planning Group, Inc. 6.22% of their portfolio COLUMBIA, SC 212,551212.6k $46.2m $46.2m 6.22% Reduced -3.0k -2,999
68 Wealthspire Advisors, LLC 0.35% of their portfolio NEW YORK, NY 205,310205.3k $44.6m $44.6m 0.35% Added +7.3k +7,311
69 Opal Wealth Advisors, LLC 9.73% of their portfolio JERICHO, NY 198,088198.1k $43.0m $43.0m 9.73% Added +5.3k +5,320
70 Kestra Advisory Services, LLC 0.16% of their portfolio AUSTIN, TX 193,564193.6k $42.1m $42.1m 0.16% Added +15.9k +15,929
71 Foster Group, Inc. 1.21% of their portfolio WEST DES MOINES, IA 186,794186.8k $40.6m $40.6m 1.21% Added +391 +391
72 Comprehensive Financial Management LLC 1.33% of their portfolio Los Gatos, CA 184,376184.4k $40.1m $40.1m 1.33% Unchanged
73 CWM, LLC 0.11% of their portfolio OMAHA, NE 184,349184.3k $40.0m $40.0m 0.11% Added +10.4k +10,401
74 MERCER GLOBAL ADVISORS INC /ADV 0.06% of their portfolio DENVER, CO 180,680180.7k $39.3m $39.3m 0.06% Added +18.2k +18,245
75 Beacon Pointe Advisors, LLC 0.21% of their portfolio NEWPORT BEACH, CA 179,371179.4k $39.0m $39.0m 0.21% Added +21.5k +21,458
76 US BANCORP \DE\ 0.05% of their portfolio MINNEAPOLIS, MN 176,107176.1k $38.3m $38.3m 0.05% Added +20.6k +20,621
77 Cambridge Investment Research Advisors, Inc. 0.10% of their portfolio FAIRFIELD, IA 175,837175.8k $38.2m $38.2m 0.10% Added +10.1k +10,114
78 Strategies Wealth Advisors, LLC 3.82% of their portfolio GRAND RAPIDS, MI 174,938174.9k $38.0m $38.0m 3.82% Reduced -5.2k -5,235
79 MML INVESTORS SERVICES, LLC 0.10% of their portfolio SPRINGFIELD, MA 173,964174.0k $37.8m $37.8m 0.10% Reduced -28.3k -28,299
80 Sanctuary Advisors, LLC 0.20% of their portfolio INDIANAPOLIS, IN 169,301169.3k $36.8m $36.8m 0.20% Added +928 +928
81 NATIXIS ADVISORS, LLC 0.05% of their portfolio Boston, MA 160,387160.4k $34.8m $34.8m 0.05% Added +334 +334
82 FMR LLC 0.00% of their portfolio BOSTON, MA 159,980160.0k $34.8m $34.8m 0.00% Added +16.0k +15,995
83 WALLER FINANCIAL PLANNING GROUP, INC 7.54% of their portfolio COLUMBUS, OH 157,323157.3k $34.2m $34.2m 7.54% Added +10.1k +10,069
84 Waldron Private Wealth LLC 1.33% of their portfolio BRIDGEVILLE, PA 157,252157.3k $34.2m $34.2m 1.33% Reduced -5.1k -5,122
85 Pathstone Holdings, LLC 0.14% of their portfolio ENGLEWOOD, NJ 157,156157.2k $34.1m $34.1m 0.14% Added +9.7k +9,731
86 NewEdge Advisors, LLC 0.12% of their portfolio NEW ORLEANS, LA 153,935153.9k $33.4m $33.4m 0.12% Added +6.3k +6,299
87 Asset Management Group, Inc. 5.36% of their portfolio STAMFORD, CT 152,663152.7k $33.2m $33.2m 5.36% Added +2.7k +2,745
88 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 151,976152.0k $33.0m $33.0m 0.05% Added +8.0k +7,994
89 Equitable Holdings, Inc. 0.21% of their portfolio NEW YORK, NY 151,784151.8k $32.2m $32.2m 0.21% Reduced -41.3k -41,343
90 Aaron Wealth Advisors LLC 1.89% of their portfolio Chicago, IL 150,977151.0k $32.8m $32.8m 1.89% Added +12.7k +12,726
91 Marotta Asset Management 5.94% of their portfolio CHARLOTTESVILLE, VA 147,767147.8k $32.2m $32.2m 5.94% Added +3.9k +3,871
92 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 142,620142.6k $31.0m $31.0m 0.00% Reduced -103.9k -103,868
93 Merit Financial Group, LLC 0.23% of their portfolio ALPHARETTA, GA 141,395141.4k $30.7m $30.7m 0.23% Reduced -2.5k -2,494
94 Grove Street Fiduciary, LLC 13.18% of their portfolio PETERBOROUGH, NH 137,682137.7k $29.9m $29.9m 13.18% Reduced -3.8k -3,817
95 Northwest Quadrant Wealth Management, LLC 6.16% of their portfolio BEND, OR 136,500136.5k $29.7m $29.7m 6.16% Added +796 +796
96 Verus Financial Partners, Inc. 2.76% of their portfolio RICHMOND, VA 134,671134.7k $30.7m $30.7m 2.76% Reduced -3.1k -3,149
97 McAdam, LLC 1.31% of their portfolio Philadelphia, PA 133,535133.5k $29.0m $29.0m 1.31% Reduced -315 -315
98 Focus Partners Advisor Solutions, LLC 0.29% of their portfolio SAINT LOUIS, MO 131,877131.9k $28.7m $28.7m 0.29% Reduced -1.7k -1,742
99 Wealth Architects, LLC 2.55% of their portfolio MOUNTAIN VIEW, CA 131,722131.7k $28.6m $28.6m 2.55% Reduced -1.2k -1,214
100 25 LLC 8.80% of their portfolio ST. LOUIS, MO 131,383131.4k $28.5m $28.5m 8.80% Reduced -1.3k -1,326