Vault-13

VANGUARD INDEX FDS VXF

EXTEND MKT ETF · ETP · CUSIP 922908652

994 institutional holders +82 vs Q3 2025
50,449,12250.4m shares reported held*
$10.4bnreported value*
68 new 360 added 240 reduced 46 sold out net bought ≈ $322.4m (+1.5m 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 ($69.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $207.07. Options: 3 managers hold calls ($3.4m notional), 2 hold puts ($271.9k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 616Q4 22: 672Q1 23: 664Q2 23: 694Q3 23: 688Q4 23: 769Q1 24: 776Q2 24: 788Q3 24: 815Q4 24: 905Q1 25: 872Q2 25: 902Q3 25: 912Q4 25: 994994Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022616
Q4 2022672
Q1 2023664
Q2 2023694
Q3 2023688
Q4 2023769
Q1 2024776
Q2 2024788
Q3 2024815
Q4 2024905
Q1 2025872
Q2 2025902
Q3 2025912
Q4 2025994

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q1 24: 323 bought or addedQ1 24: 293 cut or sold outQ2 24: 308 bought or addedQ2 24: 301 cut or sold outQ2 24Q3 24: 337 bought or addedQ3 24: 296 cut or sold outQ4 24: 348 bought or addedQ4 24: 325 cut or sold outQ4 24Q1 25: 372 bought or addedQ1 25: 362 cut or sold outQ2 25: 378 bought or addedQ2 25: 327 cut or sold outQ2 25Q3 25: 380 bought or addedQ3 25: 325 cut or sold outQ4 25: 428 bought or addedQ4 25: 286 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024323293
Q2 2024308301
Q3 2024337296
Q4 2024348325
Q1 2025372362
Q2 2025378327
Q3 2025380325
Q4 2025428286

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ1 25 calls: $2.7mQ1 25 puts: $568.5kQ1 25P/C 0.21Q2 25 calls: $2.4mQ2 25 puts: $269.8kQ2 25P/C 0.11Q3 25 calls: $3.2mQ3 25 puts: $795.5kQ3 25P/C 0.25Q4 25 calls: $3.4mQ4 25 puts: $271.9kQ4 25P/C 0.08
Numbers
QuarterCallsPutsP/C
Q1 2025$2.7m$568.5k0.21
Q2 2025$2.4m$269.8k0.11
Q3 2025$3.2m$795.5k0.25
Q4 2025$3.4m$271.9k0.08

Biggest buyers

MORGAN STANLEY Added +293,651+293.7k
NEPC LLC Added +254,531+254.5k
MERCER GLOBAL ADVISORS INC /ADV Added +239,786+239.8k
CAPTRUST FINANCIAL ADVISORS Added +219,063+219.1k
WELLS FARGO & COMPANY/MN Added +193,176+193.2k
HCR Wealth Advisors New +178,116+178.1k
BANK OF AMERICA CORP /DE/ Added +154,522+154.5k
Thrivent Financial for Lutherans Added +151,710+151.7k
ENVESTNET ASSET MANAGEMENT INC Added +147,937+147.9k
FIFTH THIRD BANCORP Added +102,717+102.7k

Biggest sellers

Wealthspire Advisors, LLC Reduced -811,241-811.2k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -149,805-149.8k
US BANCORP \DE\ Reduced -142,520-142.5k
BNP PARIBAS FINANCIAL MARKETS Reduced -121,412-121.4k
Stratos Wealth Partners, LTD. Reduced -100,752-100.8k
OSAIC HOLDINGS, INC. Reduced -85,182-85.2k
NATIXIS ADVISORS, LLC Reduced -64,705-64.7k
JPMORGAN CHASE & CO Reduced -60,254-60.3k
CITIGROUP INC Reduced -58,460-58.5k
Investment Planning Advisors, Inc. Reduced -56,796-56.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.3m10.8k shares
Belvedere Trading LLC Reduced $857.4k4.1k shares
LPL Financial LLC New $313.7k1.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $209.1k1.0k shares
Belvedere Trading LLC Reduced $62.7k300 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 3,936,4643.9m $823.2m $823.2m 0.05% Added +293.7k +293,651
2 Wealthfront Advisers LLC 1.59% of their portfolio Palo Alto, CA 3,395,0963.4m $710.0m $710.0m 1.59% Reduced -14.6k -14,591
3 ENVESTNET ASSET MANAGEMENT INC 0.19% of their portfolio Berwyn, PA 3,035,9983.0m $634.9m $634.9m 0.19% Added +147.9k +147,937
4 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 1,883,9161.9m $394.0m $394.0m 0.03% Added +154.5k +154,522
5 FIFTH THIRD BANCORP 0.93% of their portfolio CINCINNATI, OH 1,393,7171.4m $291.5m $291.5m 0.93% Added +102.7k +102,717
6 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,381,6821.4m $288.9m $288.9m 0.00% Added +88.3k +88,303
7 ASSETMARK, INC 0.52% of their portfolio CONCORD, CA 1,223,0761.2m $255.8m $255.8m 0.52% Added +43.9k +43,928
8 MERCER GLOBAL ADVISORS INC /ADV 0.39% of their portfolio DENVER, CO 1,213,0061.2m $253.4m $253.4m 0.39% Added +239.8k +239,786
9 LPL Financial LLC 0.06% of their portfolio FORT MILL, SC 1,029,5671.0m $215.3m $215.3m 0.06% Added +15.9k +15,875
10 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 977,926977.9k $204.5m $204.5m 0.04% Added +55.2k +55,195
11 Focus Partners Wealth 0.22% of their portfolio ST LOUIS, MO 920,011920.0k $192.3m $192.3m 0.22% Added +40.2k +40,211
12 US BANCORP \DE\ 0.21% of their portfolio MINNEAPOLIS, MN 840,415840.4k $175.7m $175.7m 0.21% Reduced -142.5k -142,520
13 Wealthspire Advisors, LLC 1.39% of their portfolio NEW YORK, NY 835,091835.1k $174.6m $174.6m 1.39% Reduced -811.2k -811,241
14 Cerity Partners LLC 0.25% of their portfolio NEW YORK, NY 811,830811.8k $169.8m $169.8m 0.25% Added +99.4k +99,417
15 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 779,630779.6k $163.0m $163.0m 0.03% Added +193.2k +193,176
16 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 774,025774.0k $161.9m $161.9m 0.05% Added +75.3k +75,282
17 Plante Moran Financial Advisors, LLC 10.12% of their portfolio SOUTHFIELD, MI 764,572764.6k $159.9m $159.9m 10.12% Added +31.1k +31,142
18 Envestnet Portfolio Solutions, Inc. 0.54% of their portfolio BERWYN, PA 738,542738.5k $154.4m $154.4m 0.54% Added +12.4k +12,367
19 SageView Advisory Group, LLC 4.59% of their portfolio Newport Beach, CA 648,820648.8k $135.7m $135.7m 4.59% Added +28.7k +28,661
20 UBS Group AG 0.03% of their portfolio ZURICH, V8 646,302646.3k $135.2m $135.2m 0.03% Reduced -2.2k -2,173
21 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 635,355635.4k $132.9m $132.9m 0.02% Reduced -56.3k -56,291
22 NEPC LLC 2.79% of their portfolio Boston, MA 626,535626.5k $131.0m $131.0m 2.79% Added +254.5k +254,531
23 Gleason Group, Inc. 12.47% of their portfolio PROSPECT, KY 608,152608.2k $127.2m $127.2m 12.47% Added +2.3k +2,268
24 Align Financial, LLC 0.32% of their portfolio HERMANTOWN, MN 545,803545.8k $545.8k $545.8k 0.32% First filing
25 TD PRIVATE CLIENT WEALTH LLC 2.30% of their portfolio NEW YORK, NY 517,375517.4k $108.2m $108.2m 2.30% Added +66.2k +66,246
26 DIVERSIFIED TRUST CO 1.94% of their portfolio MEMPHIS, TN 503,116503.1k $105.2m $105.2m 1.94% Added +21.8k +21,776
27 Creative Planning 0.07% of their portfolio OVERLAND PARK, KS 496,103496.1k $103.7m $103.7m 0.07% Added +3.6k +3,584
28 Cambridge Investment Research Advisors, Inc. 0.24% of their portfolio FAIRFIELD, IA 431,867431.9k $90.3m $90.3m 0.24% Reduced -56.5k -56,451
29 Stratos Wealth Partners, LTD. 0.87% of their portfolio BEACHWOOD, OH 367,584367.6k $76.9m $76.9m 0.87% Reduced -100.8k -100,752
30 Charter Oak Capital Management, LLC 5.71% of their portfolio PORTSMOUTH, NH 358,062358.1k $74.9m $74.9m 5.71% Reduced -4.1k -4,059
31 OSAIC HOLDINGS, INC. 0.11% of their portfolio SCOTTSDALE, AZ 349,556349.6k $73.1m $73.1m 0.11% Reduced -85.2k -85,182
32 Van Cleef Asset Management,Inc 7.40% of their portfolio BEACHWOOD, OH 348,871348.9k $73.0m $73.0m 7.40% Reduced -1.9k -1,939
33 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 341,882341.9k $71.5m $71.5m 0.05% Reduced -58.5k -58,460
34 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 337,129337.1k $70.5m $70.5m 0.02% Added +11.8k +11,807
35 CAPTRUST FINANCIAL ADVISORS 0.13% of their portfolio RALEIGH, NC 316,950316.9k $66.3m $66.3m 0.13% Added +219.1k +219,063
36 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 306,533306.5k $64.1m $64.1m 0.04% Reduced -51.3k -51,322
37 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 276,670276.7k $57.9m $57.9m 0.02% Added +11.5k +11,454
38 JONES FINANCIAL COMPANIES LLLP 0.03% of their portfolio DES PERES, MO 273,217273.2k $57.1m $57.1m 0.03% Added +39.9k +39,942
39 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 272,131272.1k $56.9m $56.9m 0.04% Reduced -121.4k -121,412
40 Cetera Investment Advisers 0.06% of their portfolio SCHAUMBURG, IL 250,665250.7k $52.4m $52.4m 0.06% Reduced -1.7k -1,687
41 Rockefeller Capital Management L.P. 0.09% of their portfolio NEW YORK, NY 236,880236.9k $49.5m $49.5m 0.09% Added +4.3k +4,268
42 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 236,664236.7k $49.5m $49.5m 0.07% Reduced -49.1k -49,057
43 Blue Trust, Inc. 0.56% of their portfolio BRENTWOOD, TN 236,617236.6k $49.5m $49.5m 0.56% Reduced -20.0k -19,954
44 NATIXIS ADVISORS, LLC 0.07% of their portfolio Boston, MA 234,211234.2k $49.0m $49.0m 0.07% Reduced -64.7k -64,705
45 Mariner, LLC 0.06% of their portfolio Overland Park, KS 229,859229.9k $48.1m $48.1m 0.06% Added +5.7k +5,722
46 Tenon Financial LLC 20.16% of their portfolio METUCHEN, NJ 228,681228.7k $47.8m $47.8m 20.16% Added +51.5k +51,451
47 UNITED SERVICES AUTOMOBILE ASSOCIATION 2.97% of their portfolio SAN ANTONIO, TX 224,143224.1k $46.9m $46.9m 2.97% Added +69.2k +69,222
48 GeoWealth Management, LLC 1.70% of their portfolio CHICAGO, IL 221,084221.1k $46.2m $46.2m 1.70% Added +6.2k +6,171
49 Voya Financial Advisors, Inc. 4.23% of their portfolio WINDSOR, CT 207,817207.8k $44.1m $44.1m 4.23% Reduced -5.6k -5,580
50 ACT WEALTH MANAGEMENT, LLC 13.91% of their portfolio PLANO, TX 203,414203.4k $42.5m $42.5m 13.91% Added +4.1k +4,125
51 James J. Burns & Company, LLC 5.79% of their portfolio MELVILLE, NY 200,791200.8k $42.0m $42.0m 5.79% Added +3.7k +3,740
52 COLDSTREAM CAPITAL MANAGEMENT INC 0.53% of their portfolio BELLEVUE, WA 196,301196.3k $41.1m $41.1m 0.53% Reduced -42.0k -41,954
53 Thrivent Financial for Lutherans 0.07% of their portfolio Minneapolis, MN 182,975183.0k $38.3m $38.3m 0.07% Added +151.7k +151,710
54 HCR Wealth Advisors 3.69% of their portfolio LOS ANGELES, CA 178,116178.1k $37.2m $37.2m 3.69% New
55 MAYPORT, LLC 7.33% of their portfolio NEWTON, MA 174,035174.0k $36.4m $36.4m 7.33% Added +3.9k +3,895
56 Legacy Private Trust Co. 2.14% of their portfolio NEENAH, WI 173,257173.3k $36.2m $36.2m 2.14% Reduced -35 -35
57 LINCOLN NATIONAL CORP 1.04% of their portfolio RADNOR, PA 170,604170.6k $35.7m $35.7m 1.04% Added +3.2k +3,183
58 MOODY NATIONAL BANK TRUST DIVISION 3.24% of their portfolio GALVESTON, TX 160,820160.8k $33.6m $33.6m 3.24% Added +6.3k +6,338
59 Lido Advisors, LLC 0.12% of their portfolio Los Angeles, CA 149,857149.9k $31.4m $31.4m 0.12% Added +36 +36
60 MATHER GROUP, LLC. 0.31% of their portfolio CHICAGO, IL 144,174144.2k $30.1m $30.1m 0.31% Reduced -1.4k -1,449
61 MML INVESTORS SERVICES, LLC 0.07% of their portfolio SPRINGFIELD, MA 143,730143.7k $30.1m $30.1m 0.07% Reduced -6.7k -6,693
62 Valmark Advisers, Inc. 0.36% of their portfolio AKRON, OH 140,926140.9k $29.5m $29.5m 0.36% Added +6.5k +6,497
63 Firestone Capital Management 6.11% of their portfolio SOUTH MIAMI, FL 137,811137.8k $28.8m $28.8m 6.11% Added +2.1k +2,067
64 SlateStone Wealth, LLC 2.34% of their portfolio JUPITER, FL 133,986134.0k $28.0m $28.0m 2.34% Added +12.5k +12,489
65 FC Advisory LLC 7.93% of their portfolio WEST CHESTER, PA 132,051132.1k $27.6m $27.6m 7.93% Added +1.4k +1,432
66 Beacon Harbor Wealth Advisors, Inc. 5.98% of their portfolio VIRGINIA BEACH, VA 129,036129.0k $27.0m $27.0m 5.98% Added +3.0k +3,006
67 New England Private Wealth Advisors LLC 3.14% of their portfolio WELLESLEY, MA 120,631120.6k $25.2m $25.2m 3.14% Added +1.3k +1,272
68 CIBC Private Wealth Group LLC 0.04% of their portfolio ATLANTA, GA 118,093118.1k $24.7m $24.7m 0.04% Added +25.3k +25,332
69 BLAIR WILLIAM & CO/IL 0.07% of their portfolio CHICAGO, IL 117,770117.8k $24.6m $24.6m 0.07% Added +40.4k +40,389
70 Corient Private Wealth LP 0.02% of their portfolio MIAMI, FL 115,086115.1k $24.2m $24.2m 0.02% Added +79.6k +79,639
71 BIP Wealth, LLC 0.85% of their portfolio ATLANTA, GA 114,569114.6k $24.0m $24.0m 0.85% Added +51 +51
72 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 114,294114.3k $23.9m $23.9m 0.02% Added +4.1k +4,092
73 CYPRESS FINANCIAL PLANNING LLC 6.65% of their portfolio HADDON HEIGHTS, NJ 112,660112.7k $23.8m $23.8m 6.65% Added +424 +424
74 HARBOUR INVESTMENTS, INC. 0.47% of their portfolio MADISON, WI 111,596111.6k $23.3m $23.3m 0.47% Added +9.9k +9,904
75 Investment Planning Advisors, Inc. 6.51% of their portfolio CUMMING, GA 106,880106.9k $22.4m $22.4m 6.51% Reduced -56.8k -56,796
76 FIRST HAWAIIAN BANK 2.97% of their portfolio HONOLULU, HI 106,655106.7k $22.3m $22.3m 2.97% Added +8.2k +8,158
77 Continuum Advisory, LLC 2.23% of their portfolio EAGLE, ID 106,521106.5k $22.3m $22.3m 2.23% Added +3.3k +3,284
78 EARNEST PARTNERS LLC 0.09% of their portfolio ATLANTA, GA 96,45896.5k $20.2m $20.2m 0.09% Added +45.6k +45,607
79 BROWN ADVISORY INC 0.03% of their portfolio BALTIMORE, MD 93,63393.6k $19.6m $19.6m 0.03% Reduced -17.4k -17,379
80 Private Advisor Group, LLC 0.09% of their portfolio MORRISTOWN, NJ 91,52291.5k $19.1m $19.1m 0.09% Added +3.6k +3,561
81 Winthrop Advisory Group LLC 1.61% of their portfolio BOSTON, MA 90,60890.6k $18.9m $18.9m 1.61% Added +5.2k +5,202
82 Fairway Wealth LLC 5.09% of their portfolio INDEPENDENCE, OH 90,20590.2k $18.9m $18.9m 5.09% Added +1.1k +1,136
83 BlackRock, Inc. 0.00% of their portfolio New York, NY 90,02390.0k $18.8m $18.8m 0.00% Added +61.8k +61,765
84 Strategic Investment Advisors / MI 1.63% of their portfolio FARMINGTON HILLS, MI 90,01290.0k $18.8m $18.8m 1.63% Added +7.6k +7,575
85 FMR LLC 0.00% of their portfolio BOSTON, MA 84,63384.6k $17.7m $17.7m 0.00% Added +4.3k +4,255
86 BESSEMER GROUP INC 0.03% of their portfolio WOODBRIDGE, NJ 84,53184.5k $17.7m $17.7m 0.03% Added +6.4k +6,390
87 SOL Capital Management CO 1.59% of their portfolio ROCKVILLE, MD 84,48284.5k $17.7m $17.7m 1.59% Reduced -4.5k -4,491
88 Affiance Financial, LLC 2.72% of their portfolio ST. LOUIS PARK, MN 80,69480.7k $16.9m $16.9m 2.72% Reduced -639 -639
89 D.A. DAVIDSON & CO. 0.10% of their portfolio GREAT FALLS, MT 80,64380.6k $16.9m $16.9m 0.10% Added +2.3k +2,318
90 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 80,30080.3k $16.8m $16.8m 0.02% Added +9.9k +9,900
91 N.E.W. Advisory Services LLC 1.24% of their portfolio DE PERE, WI 79,91779.9k $16.7m $16.7m 1.24% Added +4.6k +4,606
92 Keel Point, LLC 1.00% of their portfolio HUNTSVILLE, AL 79,54779.5k $16.6m $16.6m 1.00% Added +3.6k +3,609
93 J.W. COLE ADVISORS, INC. 0.40% of their portfolio TAMPA, FL 79,02479.0k $16.4m $16.4m 0.40% Added +978 +978
94 Summit Wealth Group, LLC 3.83% of their portfolio WHITE RIVER JUNCTION, VT 78,49578.5k $16.4m $16.4m 3.83% Added +29 +29
95 NewEdge Advisors, LLC 0.06% of their portfolio NEW ORLEANS, LA 78,28378.3k $16.4m $16.4m 0.06% Added +1.2k +1,173
96 Aurdan Capital Management, LLC 4.97% of their portfolio Wayne, PA 77,07877.1k $16.1m $16.1m 4.97% Added +2.6k +2,649
97 PRINCIPAL SECURITIES, INC. 0.24% of their portfolio DES MOINES, IA 73,63473.6k $15.4m $15.4m 0.24% Reduced -72 -72
98 BRIGHTON SECURITIES CORP. 7.12% of their portfolio ROCHESTER, NY 69,00369.0k $14.4m $14.4m 7.12% Added +693 +693
99 Topsail Wealth Management, LLC 2.11% of their portfolio CHARLOTTE, NC 68,86968.9k $14.4m $14.4m 2.11% Added +22.0k +22,038
100 Asio Capital, LLC 2.02% of their portfolio LEXINGTON, KY 68,55068.5k $14.3m $14.3m 2.02% Added +1.5k +1,459