Vault-13

VANGUARD INDEX FDS VUG

GROWTH ETF · ETP · CUSIP 922908736

2,504 institutional holders +49 vs Q1 2025
259,684,351259.7m shares reported held*
$113.4bnreported value*
145 new 965 added 896 reduced 94 sold out net bought ≈ $3.4bn (+7.7m 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 ($334.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $436.65. Options: 4 managers hold calls ($155.9m notional), 6 hold puts ($202.5m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,558Q4 22: 1,671Q1 23: 1,722Q2 23: 1,828Q3 23: 1,839Q4 23: 2,049Q1 24: 2,099Q2 24: 2,164Q3 24: 2,229Q4 24: 2,508Q1 25: 2,455Q2 25: 2,5042,504Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221,558
Q4 20221,671
Q1 20231,722
Q2 20231,828
Q3 20231,839
Q4 20232,049
Q1 20242,099
Q2 20242,164
Q3 20242,229
Q4 20242,508
Q1 20252,455
Q2 20252,504

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ3 23: 842 bought or addedQ3 23: 735 cut or sold outQ4 23: 931 bought or addedQ4 23: 712 cut or sold outQ4 23Q1 24: 942 bought or addedQ1 24: 904 cut or sold outQ2 24: 925 bought or addedQ2 24: 865 cut or sold outQ2 24Q3 24: 1,002 bought or addedQ3 24: 868 cut or sold outQ4 24: 1,081 bought or addedQ4 24: 852 cut or sold outQ4 24Q1 25: 1,097 bought or addedQ1 25: 1,048 cut or sold outQ2 25: 1,110 bought or addedQ2 25: 990 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023842735
Q4 2023931712
Q1 2024942904
Q2 2024925865
Q3 20241,002868
Q4 20241,081852
Q1 20251,0971,048
Q2 20251,110990

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 24 calls: $89.8mQ3 24 puts: $59.0mQ3 24P/C 0.66Q4 24 calls: $81.1mQ4 24 puts: $111.2mQ4 24P/C 1.37Q1 25 calls: $116.2mQ1 25 puts: $111.8mQ1 25P/C 0.96Q2 25 calls: $155.9mQ2 25 puts: $202.5mQ2 25P/C 1.30
Numbers
QuarterCallsPutsP/C
Q3 2024$89.8m$59.0m0.66
Q4 2024$81.1m$111.2m1.37
Q1 2025$116.2m$111.8m0.96
Q2 2025$155.9m$202.5m1.30

Biggest buyers

JONES FINANCIAL COMPANIES LLLP Added +2,786,822+2.8m
ROYAL BANK OF CANADA Added +2,078,800+2.1m
BANK OF AMERICA CORP /DE/ Added +851,110+851.1k
MORGAN STANLEY Added +538,111+538.1k
ALLIANCEBERNSTEIN L.P. Added +424,342+424.3k
Rockefeller Capital Management L.P. Added +410,292+410.3k
LPL Financial LLC Added +371,595+371.6k
Merit Financial Group, LLC Added +347,412+347.4k
CITIGROUP INC Added +242,233+242.2k
Kensington Asset Management, LLC New +217,710+217.7k

Biggest sellers

MERCER GLOBAL ADVISORS INC /ADV Sold out -418,422-418.4k
Smith Anglin Financial, LLC Reduced -364,864-364.9k
Venturi Wealth Management, LLC Reduced -339,045-339.0k
RWA WEALTH PARTNERS, LLC Reduced -305,580-305.6k
GOLDMAN SACHS GROUP INC Reduced -282,191-282.2k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -211,791-211.8k
CSM Advisors, LLC Reduced -195,887-195.9k
Atria Wealth Solutions, Inc. Reduced -182,456-182.5k
RAYMOND JAMES FINANCIAL INC Reduced -165,597-165.6k
Corient Private Wealth LP Reduced -148,239-148.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $79.7m181.9k shares
CITADEL ADVISORS LLC Reduced $39.1m89.1k shares
JANE STREET GROUP, LLC Added $32.7m74.7k shares
Belvedere Trading LLC Reduced $4.3m9.9k shares

Biggest puts

MERCER GLOBAL ADVISORS INC /ADV New $162.2m372.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $26.8m61.1k shares
CITADEL ADVISORS LLC Reduced $6.7m15.2k shares
Twin Tree Management, LP New $4.3m9.8k shares
JANE STREET GROUP, LLC Added $2.5m5.6k shares
WELLS FARGO & COMPANY/MN New $87.7k200 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 1.75% of their portfolio CHARLOTTE, NC 49,386,99049.4m $21.7bn $21.7bn 1.75% Added +851.1k +851,110
2 JONES FINANCIAL COMPANIES LLLP 11.60% of their portfolio DES PERES, MO 35,058,92335.1m $15.3bn $15.3bn 11.60% Added +2.8m +2,786,822
3 MORGAN STANLEY 0.42% of their portfolio NEW YORK, NY 14,559,21514.6m $6.4bn $6.4bn 0.42% Added +538.1k +538,111
4 ENVESTNET ASSET MANAGEMENT INC 1.04% of their portfolio Berwyn, PA 8,127,1398.1m $3.6bn $3.6bn 1.04% Added +79.1k +79,107
5 Financial Engines Advisors L.L.C. 6.35% of their portfolio SANTA CLARA, CA 7,251,5067.3m $3.2bn $3.2bn 6.35% Reduced -47.9k -47,880
6 UBS Group AG 0.54% of their portfolio ZURICH, V8 5,916,4415.9m $2.6bn $2.6bn 0.54% Added +40.3k +40,308
7 LPL Financial LLC 0.78% of their portfolio FORT MILL, SC 5,335,7975.3m $2.3bn $2.3bn 0.78% Added +371.6k +371,595
8 WELLS FARGO & COMPANY/MN 0.40% of their portfolio SAN FRANCISCO, CA 4,121,9014.1m $1.8bn $1.8bn 0.40% Added +199.0k +198,975
9 ROYAL BANK OF CANADA 0.17% of their portfolio TORONTO, A6 4,086,5804.1m $1.8bn $1.8bn 0.17% Added +2.1m +2,078,800
10 AMERIPRISE FINANCIAL INC 0.42% of their portfolio MINNEAPOLIS, MN 3,886,1183.9m $1.7bn $1.7bn 0.42% Added +16.2k +16,250
11 TIAA TRUST, NATIONAL ASSOCIATION 4.13% of their portfolio CHARLOTTE, NC 3,619,7233.6m $1.6bn $1.6bn 4.13% Reduced -1.5k -1,487
12 EP Wealth Advisors, LLC 9.98% of their portfolio TORRANCE, CA 3,463,1133.5m $1.5bn $1.5bn 9.98% Added +126.6k +126,649
13 FMR LLC 0.07% of their portfolio BOSTON, MA 2,689,8002.7m $1.2bn $1.2bn 0.07% Reduced -119.3k -119,340
14 Mill Creek Capital Advisors, LLC 24.88% of their portfolio Conshohocken, PA 2,559,7742.6m $1.1bn $1.1bn 24.88% Reduced -60.0k -60,005
15 RAYMOND JAMES FINANCIAL INC 0.37% of their portfolio ST. PETERSBURG, FL 2,471,4812.5m $1.1bn $1.1bn 0.37% Reduced -165.6k -165,597
16 PNC Financial Services Group, Inc. 0.66% of their portfolio Pittsburgh, PA 2,329,1752.3m $1.0bn $1.0bn 0.66% Added +9.3k +9,301
17 RWA WEALTH PARTNERS, LLC 11.94% of their portfolio BOSTON, MA 2,176,2162.2m $954.1m $954.1m 11.94% Reduced -305.6k -305,580
18 Bank of New York Mellon Corp 0.16% of their portfolio NEW YORK, NY 1,956,2142.0m $857.6m $857.6m 0.16% Reduced -39.4k -39,442
19 COMMONWEALTH EQUITY SERVICES, LLC 1.04% of their portfolio WALTHAM, MA 1,792,6001.8m $785.9m $785.9m 1.04% Reduced -63.8k -63,793
20 Mariner, LLC 1.13% of their portfolio Overland Park, KS 1,786,8161.8m $783.3m $783.3m 1.13% Added +40.9k +40,881
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.57% of their portfolio MILWAUKEE, WI 1,785,5391.8m $782.8m $782.8m 0.57% Added +38.0k +38,032
22 D.A. DAVIDSON & CO. 5.43% of their portfolio GREAT FALLS, MT 1,758,3371.8m $770.9m $770.9m 5.43% Added +45.0k +45,008
23 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 1,731,7341.7m $759.2m $759.2m 0.05% Reduced -64.1k -64,099
24 HighTower Advisors, LLC 0.85% of their portfolio CHICAGO, IL 1,552,0721.6m $680.4m $680.4m 0.85% Added +73.3k +73,292
25 CAPTRUST FINANCIAL ADVISORS 1.45% of their portfolio RALEIGH, NC 1,486,4471.5m $651.7m $651.7m 1.45% Added +51.1k +51,114
26 SEI INVESTMENTS CO 0.75% of their portfolio OAKS, PA 1,468,3031.5m $643.7m $643.7m 0.75% Reduced -59.8k -59,783
27 Provida Pension Fund Administrator 11.26% of their portfolio LAS CONDES, SANTIAGO, F3 1,417,5181.4m $621.5m $621.5m 11.26% Added +30.2k +30,230
28 Cetera Investment Advisers 0.98% of their portfolio SCHAUMBURG, IL 1,326,3141.3m $581.5m $581.5m 0.98% Added +206.4k +206,407
29 Balentine LLC 22.28% of their portfolio ATLANTA, GA 1,305,5131.3m $572.3m $572.3m 22.28% Reduced -3.2k -3,172
30 Performance Wealth Partners, LLC 18.10% of their portfolio HINSDALE, IL 1,290,6911.3m $565.8m $565.8m 18.10% Reduced -1.9k -1,923
31 Modera Wealth Management, LLC 6.49% of their portfolio WESTWOOD, NJ 1,195,2241.2m $524.0m $524.0m 6.49% Added +16.4k +16,381
32 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 1,185,0891.2m $519.5m $519.5m 0.08% Reduced -282.2k -282,191
33 TWO SIGMA INVESTMENTS, LP 0.82% of their portfolio NEW YORK, NY 1,042,9001.0m $457.2m $457.2m 0.82% Added +22.0k +22,000
34 MISSION WEALTH MANAGEMENT, LP 9.88% of their portfolio Santa Barbara, CA 1,033,3081.0m $453.0m $453.0m 9.88% Added +36.6k +36,604
35 TRUIST FINANCIAL CORP 0.66% of their portfolio CHARLOTTE, NC 1,030,6541.0m $451.8m $451.8m 0.66% Added +38.9k +38,903
36 CHOREO, LLC 6.27% of their portfolio ROCKFORD, IL 1,024,3921.0m $449.6m $449.6m 6.27% Added +449 +449
37 SIGNATURE ESTATE & INVESTMENT ADVISORS LLC 10.33% of their portfolio LOS ANGELES, CA 1,022,8671.0m $448.4m $448.4m 10.33% Added +135.9k +135,936
38 Wellspring Financial Advisors, LLC 0.95% of their portfolio CLEVELAND, OH 942,653942.7k $9.5m $9.5m 0.95% Reduced -1.1k -1,129
39 OSAIC HOLDINGS, INC. 0.72% of their portfolio SCOTTSDALE, AZ 924,632924.6k $402.2m $402.2m 0.72% Added +140.0k +139,952
40 CBIZ Investment Advisory Services, LLC 17.55% of their portfolio INDEPENDENCE, OH 903,783903.8k $396.2m $396.2m 17.55% Added +35.6k +35,565
41 Wealthspire Advisors, LLC 2.21% of their portfolio NEW YORK, NY 896,976897.0k $393.2m $393.2m 2.21% Reduced -22.6k -22,580
42 CITIGROUP INC 0.26% of their portfolio NEW YORK, NY 871,186871.2k $381.9m $381.9m 0.26% Added +242.2k +242,233
43 MONETA GROUP INVESTMENT ADVISORS LLC 4.54% of their portfolio ST LOUIS, MO 869,661869.7k $381.3m $381.3m 4.54% Added +60.2k +60,174
44 Equitable Holdings, Inc. 3.07% of their portfolio NEW YORK, NY 849,857849.9k $372.6m $372.6m 3.07% Added +10.3k +10,336
45 Merit Financial Group, LLC 4.00% of their portfolio ALPHARETTA, GA 817,453817.5k $358.4m $358.4m 4.00% Added +347.4k +347,412
46 MML INVESTORS SERVICES, LLC 0.99% of their portfolio SPRINGFIELD, MA 785,410785.4k $344.3m $344.3m 0.99% Added +56.3k +56,301
47 Northeast Financial Consultants Inc 13.89% of their portfolio WESTPORT, CT 774,827774.8k $339.7m $339.7m 13.89% Added +4.8k +4,808
48 STIFEL FINANCIAL CORP 0.31% of their portfolio ST. LOUIS, MO 735,886735.9k $322.7m $322.7m 0.31% Added +4.0k +3,985
49 ALLIANCEBERNSTEIN L.P. 0.10% of their portfolio NASHVILLE, TN 722,843722.8k $316.9m $316.9m 0.10% Added +424.3k +424,342
50 Sanctuary Advisors, LLC 1.95% of their portfolio INDIANAPOLIS, IN 718,677718.7k $315.1m $315.1m 1.95% Reduced -20.3k -20,295
51 Waverly Advisors, LLC 3.45% of their portfolio BIRMINGHAM, AL 716,569716.6k $314.1m $314.1m 3.45% Added +39.8k +39,758
52 Rockefeller Capital Management L.P. 0.37% of their portfolio NEW YORK, NY 713,750713.8k $312.9m $312.9m 0.37% Added +410.3k +410,292
53 LINCOLN NATIONAL CORP 9.28% of their portfolio RADNOR, PA 698,089698.1k $306.0m $306.0m 9.28% Added +1.2k +1,171
54 NATIXIS ADVISORS, LLC 0.48% of their portfolio Boston, MA 694,588694.6k $304.5m $304.5m 0.48% Added +116.6k +116,600
55 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio SAN FRANCISCO, CA 686,901686.9k $301.1m $301.1m 0.05% Reduced -68.0k -68,025
56 AVANTAX ADVISORY SERVICES, INC. 1.63% of their portfolio DALLAS, TX 676,316676.3k $296.5m $296.5m 1.63% Added +2.8k +2,783
57 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.44% of their portfolio PLYMOUTH, MN 601,004601.0k $265.6m $265.6m 0.44% Added +1.6k +1,640
58 Bell Bank 11.98% of their portfolio FARGO, ND 586,269586.3k $257.0m $257.0m 11.98% Added +25.8k +25,849
59 Cullen/Frost Bankers, Inc. 3.17% of their portfolio San Antonio, TX 576,028576.0k $252.5m $252.5m 3.17% Reduced -10.1k -10,133
60 Waldron Private Wealth LLC 10.69% of their portfolio BRIDGEVILLE, PA 558,569558.6k $245.2m $245.2m 10.69% Added +21.3k +21,292
61 Money Design Co.,Ltd. 11.35% of their portfolio TOKYO, M0 554,153554.2k $242.9m $242.9m 11.35% Added +11.4k +11,409
62 Focus Partners Wealth 0.53% of their portfolio ST LOUIS, MO 554,038554.0k $242.9m $242.9m 0.53% Added +14.1k +14,104
63 MATHER GROUP, LLC. 2.57% of their portfolio CHICAGO, IL 548,423548.4k $240.4m $240.4m 2.57% Added +17.6k +17,575
64 CWM, LLC 0.82% of their portfolio OMAHA, NE 532,190532.2k $233.3m $233.3m 0.82% Added +55 +55
65 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.88% of their portfolio IRVING, TX 531,327531.3k $232.9m $232.9m 1.88% Added +1.0k +1,004
66 Retirement Investment Advisors, Inc. 20.90% of their portfolio OKLAHOMA CITY, OK 529,933529.9k $232.3m $232.3m 20.90% Added +25.6k +25,596
67 ASSETMARK, INC 0.53% of their portfolio CONCORD, CA 514,034514.0k $225.4m $225.4m 0.53% Reduced -8.2k -8,248
68 Kestra Advisory Services, LLC 1.09% of their portfolio AUSTIN, TX 507,886507.9k $222.7m $222.7m 1.09% Added +52.7k +52,660
69 Cambridge Investment Research Advisors, Inc. 0.64% of their portfolio FAIRFIELD, IA 482,195482.2k $211.4m $211.4m 0.64% Added +25.3k +25,295
70 COLDSTREAM CAPITAL MANAGEMENT INC 3.43% of their portfolio BELLEVUE, WA 477,680477.7k $209.5m $209.5m 3.43% Added +181.9k +181,918
71 Corient Private Wealth LP 0.28% of their portfolio MIAMI, FL 473,262473.3k $207.5m $207.5m 0.28% Reduced -148.2k -148,239
72 Baird Financial Group, Inc. 0.36% of their portfolio MILWAUKEE, WI 469,987470.0k $206.0m $206.0m 0.36% Added +8.8k +8,784
73 Garde Capital, Inc. 10.83% of their portfolio SEATTLE, WA 461,551461.6k $202.3m $202.3m 10.83% Reduced -12.7k -12,741
74 Avior Wealth Management, LLC 6.77% of their portfolio OMAHA, NE 447,094447.1k $195.9m $195.9m 6.77% Added +1.8k +1,790
75 Private Advisor Group, LLC 1.03% of their portfolio MORRISTOWN, NJ 438,014438.0k $192.0m $192.0m 1.03% Added +2.7k +2,747
76 Truepoint, Inc. 4.64% of their portfolio CINCINNATI, OH 425,519425.5k $186.5m $186.5m 4.64% Added +7.6k +7,648
77 NewEdge Advisors, LLC 0.94% of their portfolio NEW ORLEANS, LA 413,727413.7k $181.4m $181.4m 0.94% Added +12.4k +12,386
78 WOODMONT INVESTMENT COUNSEL LLC 11.88% of their portfolio NASHVILLE, TN 410,717410.7k $180.1m $180.1m 11.88% Added +10.7k +10,679
79 INVICTUS PRIVATE WEALTH, LLC 12.27% of their portfolio Denver, CO 408,774408.8k $179.2m $179.2m 12.27% Added +8.9k +8,851
80 BOK Financial Private Wealth, Inc. 11.72% of their portfolio DENVER, CO 400,378400.4k $175.7m $175.7m 11.72% Added +1.2k +1,196
81 Cerity Partners LLC 0.31% of their portfolio NEW YORK, NY 394,581394.6k $173.0m $173.0m 0.31% Added +31.2k +31,158
82 Brookstone Capital Management 2.22% of their portfolio WHEATON, IL 386,221386.2k $169.3m $169.3m 2.22% Reduced -6.8k -6,815
83 Cornerstone Management, Inc. 27.11% of their portfolio DULUTH, GA 355,735355.7k $156.0m $156.0m 27.11% Reduced -3.0k -3,003
84 STEPHENS GROUP ASSET MANAGEMENT, LLC 10.74% of their portfolio LITTLE ROCK, AR 340,519340.5k $149.3m $149.3m 10.74% Added +31.8k +31,815
85 Beacon Pointe Advisors, LLC 1.49% of their portfolio NEWPORT BEACH, CA 324,941324.9k $142.5m $142.5m 1.49% Added +12.2k +12,247
86 Rezny Wealth Management, Inc. 32.03% of their portfolio Fort Myers, FL 323,948323.9k $142.0m $142.0m 32.03% Added +4.2k +4,222
87 MOSAIC FAMILY WEALTH PARTNERS, LLC 18.02% of their portfolio ST. LOUIS, MO 322,237322.2k $141.3m $141.3m 18.02% Added +6.7k +6,743
88 BANK OF HAWAII 7.45% of their portfolio HONOLULU, HI 321,923321.9k $141.1m $141.1m 7.45% Reduced -5.8k -5,786
89 US BANCORP \DE\ 0.17% of their portfolio MINNEAPOLIS, MN 302,853302.9k $132.8m $132.8m 0.17% Reduced -3.2k -3,245
90 Permanens Capital L.P. 18.07% of their portfolio NEW YORK, NY 301,987302.0k $132.5m $132.5m 18.07% Reduced -52.7k -52,726
91 Howard Capital Management, LLC 1.98% of their portfolio Alpharetta, GA 301,367301.4k $132.3m $132.3m 1.98% Reduced -12.7k -12,741
92 Creative Planning 0.11% of their portfolio OVERLAND PARK, KS 296,917296.9k $130.2m $130.2m 0.11% Reduced -461 -461
93 Betterment LLC 0.27% of their portfolio NEW YORK, NY 290,155290.2k $127.2m $127.2m 0.27% Added +22.6k +22,648
94 Mountain Capital Investment Advisors Inc. 23.84% of their portfolio WESTMINSTER, CO 285,908285.9k $124.1m $124.1m 23.84% Added +21.4k +21,406
95 SIMON QUICK ADVISORS, LLC 6.28% of their portfolio MORRISTOWN, NJ 283,250283.2k $124.2m $124.2m 6.28% Reduced -1.7k -1,693
96 Strategies Wealth Advisors, LLC 13.17% of their portfolio GRAND RAPIDS, MI 274,919274.9k $120.5m $120.5m 13.17% Reduced -8.1k -8,092
97 Orion Porfolio Solutions, LLC 1.01% of their portfolio OMAHA, NE 268,637268.6k $117.8m $117.8m 1.01% Added +15.8k +15,791
98 Financial Synergies Wealth Advisors, Inc. 12.38% of their portfolio HOUSTON, TX 259,284259.3k $113.7m $113.7m 12.38% Added +2.3k +2,312
99 Sumitomo Mitsui DS Asset Management Company, Ltd 0.99% of their portfolio TOKYO, M0 251,650251.7k $110.3m $110.3m 0.99% Unchanged
100 Pathstone Holdings, LLC 0.38% of their portfolio ENGLEWOOD, NJ 250,803250.8k $96.8m $96.8m 0.38% Added +69.9k +69,940