Vault-13

VANGUARD INDEX FDS VUG

GROWTH ETF · ETP · CUSIP 922908736

2,610 institutional holders +106 vs Q2 2025
257,791,214257.8m shares reported held*
$122.7bnreported value*
180 new 964 added 930 reduced 61 sold out net bought ≈ $1.8bn (+4.0m 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 ($301.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $475.88. Options: 5 managers hold calls ($162.6m notional), 9 hold puts ($87.2m).

Trends to Q3 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: 2,504Q3 25: 2,6102,610Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 20252,610

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ4 23: 931 bought or addedQ4 23: 712 cut or sold outQ1 24: 942 bought or addedQ1 24: 904 cut or sold outQ1 24Q2 24: 925 bought or addedQ2 24: 865 cut or sold outQ3 24: 1,002 bought or addedQ3 24: 868 cut or sold outQ3 24Q4 24: 1,081 bought or addedQ4 24: 852 cut or sold outQ1 25: 1,097 bought or addedQ1 25: 1,048 cut or sold outQ1 25Q2 25: 1,110 bought or addedQ2 25: 990 cut or sold outQ3 25: 1,144 bought or addedQ3 25: 991 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023931712
Q1 2024942904
Q2 2024925865
Q3 20241,002868
Q4 20241,081852
Q1 20251,0971,048
Q2 20251,110990
Q3 20251,144991

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ4 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 1.30Q3 25 calls: $162.6mQ3 25 puts: $87.2mQ3 25P/C 0.54
Numbers
QuarterCallsPutsP/C
Q4 2024$81.1m$111.2m1.37
Q1 2025$116.2m$111.8m0.96
Q2 2025$155.9m$202.5m1.30
Q3 2025$162.6m$87.2m0.54

Biggest buyers

JPMORGAN CHASE & CO Added +1,748,686+1.7m
VANTAGEPOINT INVESTMENT ADVISERS LLC Added +1,066,150+1.1m
Corient Private Wealth LP Added +932,235+932.2k
Cetera Investment Advisers Added +749,235+749.2k
Sanctuary Advisors, LLC Added +685,599+685.6k
MONETA GROUP INVESTMENT ADVISORS LLC Added +503,034+503.0k
Japan Science & Technology Agency New +350,953+351.0k
MERCER GLOBAL ADVISORS INC /ADV New +334,163+334.2k
Venturi Wealth Management, LLC Added +279,625+279.6k
MORGAN STANLEY Added +214,375+214.4k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -2,298,992-2.3m
ROYAL BANK OF CANADA Reduced -1,912,747-1.9m
Financial Engines Advisors L.L.C. Reduced -435,057-435.1k
Rockefeller Capital Management L.P. Reduced -291,959-292.0k
Arax Advisory Partners Sold out -181,207-181.2k
TWO SIGMA INVESTMENTS, LP Reduced -176,800-176.8k
ALLIANCEBERNSTEIN L.P. Reduced -173,045-173.0k
Thrivent Financial for Lutherans Reduced -125,721-125.7k
UBS Group AG Reduced -112,173-112.2k
TIAA TRUST, NATIONAL ASSOCIATION Reduced -107,876-107.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $113.9m237.4k shares
JANE STREET GROUP, LLC Reduced $23.9m49.8k shares
CITADEL ADVISORS LLC Reduced $22.1m46.1k shares
WOLVERINE TRADING, LLC New $2.6m5.4k shares
Belvedere Trading LLC Reduced $191.8k400 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $39.5m82.4k shares
CITADEL ADVISORS LLC Added $22.4m46.8k shares
JANE STREET GROUP, LLC Added $15.6m32.5k shares
Garde Capital, Inc. New $3.8m7.9k shares
WOLVERINE TRADING, LLC New $3.2m6.6k shares
Belvedere Trading LLC New $2.4m5.0k shares
BANK OF AMERICA CORP /DE/ New $191.8k400 shares
WELLS FARGO & COMPANY/MN Unchanged $95.9k200 shares
RAYMOND JAMES FINANCIAL INC New $42.5k100 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 1.69% of their portfolio CHARLOTTE, NC 47,087,99847.1m $22.6bn $22.6bn 1.69% Reduced -2.3m -2,298,992
2 JONES FINANCIAL COMPANIES LLLP 11.43% of their portfolio DES PERES, MO 35,215,11035.2m $16.8bn $16.8bn 11.43% Added +156.2k +156,187
3 MORGAN STANLEY 0.43% of their portfolio NEW YORK, NY 14,773,59014.8m $7.1bn $7.1bn 0.43% Added +214.4k +214,375
4 ENVESTNET ASSET MANAGEMENT INC 1.15% of their portfolio Berwyn, PA 8,318,5388.3m $4.0bn $4.0bn 1.15% Added +191.4k +191,399
5 Financial Engines Advisors L.L.C. 6.24% of their portfolio SANTA CLARA, CA 6,816,4496.8m $3.3bn $3.3bn 6.24% Reduced -435.1k -435,057
6 UBS Group AG 0.54% of their portfolio ZURICH, V8 5,804,2685.8m $2.8bn $2.8bn 0.54% Reduced -112.2k -112,173
7 LPL Financial LLC 0.77% of their portfolio FORT MILL, SC 5,466,7525.5m $2.6bn $2.6bn 0.77% Added +131.0k +130,955
8 WELLS FARGO & COMPANY/MN 0.41% of their portfolio SAN FRANCISCO, CA 4,212,7004.2m $2.0bn $2.0bn 0.41% Added +90.8k +90,799
9 AMERIPRISE FINANCIAL INC 0.43% of their portfolio MINNEAPOLIS, MN 3,868,0933.9m $1.9bn $1.9bn 0.43% Reduced -18.0k -18,025
10 TIAA TRUST, NATIONAL ASSOCIATION 4.09% of their portfolio CHARLOTTE, NC 3,511,8473.5m $1.7bn $1.7bn 4.09% Reduced -107.9k -107,876
11 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 3,480,4203.5m $1.7bn $1.7bn 0.05% Added +1.7m +1,748,686
12 FMR LLC 0.07% of their portfolio BOSTON, MA 2,621,4432.6m $1.3bn $1.3bn 0.07% Reduced -68.4k -68,357
13 RAYMOND JAMES FINANCIAL INC 0.39% of their portfolio ST. PETERSBURG, FL 2,543,1202.5m $1.2bn $1.2bn 0.39% Added +71.6k +71,639
14 Mill Creek Capital Advisors, LLC 24.95% of their portfolio Conshohocken, PA 2,525,6902.5m $1.2bn $1.2bn 24.95% Reduced -34.1k -34,084
15 PNC Financial Services Group, Inc. 0.68% of their portfolio Pittsburgh, PA 2,328,4232.3m $1.1bn $1.1bn 0.68% Reduced -752 -752
16 ROYAL BANK OF CANADA 0.19% of their portfolio TORONTO, A6 2,173,8332.2m $1.0bn $1.0bn 0.19% Reduced -1.9m -1,912,747
17 RWA WEALTH PARTNERS, LLC 11.77% of their portfolio BOSTON, MA 2,161,1082.2m $1.0bn $1.0bn 11.77% Reduced -15.1k -15,108
18 Cetera Investment Advisers 1.16% of their portfolio SCHAUMBURG, IL 2,075,5492.1m $995.5m $995.5m 1.16% Added +749.2k +749,235
19 Bank of New York Mellon Corp 0.17% of their portfolio NEW YORK, NY 1,931,3551.9m $926.3m $926.3m 0.17% Reduced -24.9k -24,859
20 Mariner, LLC 1.11% of their portfolio Overland Park, KS 1,789,0121.8m $858.0m $858.0m 1.11% Added +2.2k +2,196
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.57% of their portfolio MILWAUKEE, WI 1,776,1061.8m $851.8m $851.8m 0.57% Reduced -9.4k -9,433
22 D.A. DAVIDSON & CO. 5.44% of their portfolio GREAT FALLS, MT 1,773,9731.8m $850.8m $850.8m 5.44% Added +15.6k +15,636
23 COMMONWEALTH EQUITY SERVICES, LLC 1.06% of their portfolio WALTHAM, MA 1,711,8151.7m $821.0m $821.0m 1.06% Reduced -80.8k -80,785
24 HighTower Advisors, LLC 0.87% of their portfolio CHICAGO, IL 1,596,6771.6m $765.9m $765.9m 0.87% Added +44.6k +44,605
25 Balentine LLC 26.76% of their portfolio ATLANTA, GA 1,514,4801.5m $726.4m $726.4m 26.76% Added +209.0k +208,967
26 Provida Pension Fund Administrator 12.55% of their portfolio LAS CONDES, SANTIAGO, F3 1,501,4031.5m $720.5m $720.5m 12.55% Added +83.9k +83,885
27 CAPTRUST FINANCIAL ADVISORS 1.43% of their portfolio RALEIGH, NC 1,466,5911.5m $703.4m $703.4m 1.43% Reduced -19.9k -19,856
28 SEI INVESTMENTS CO 0.76% of their portfolio OAKS, PA 1,464,8911.5m $702.6m $702.6m 0.76% Reduced -3.4k -3,412
29 Corient Private Wealth LP 1.06% of their portfolio MIAMI, FL 1,405,4971.4m $673.8m $673.8m 1.06% Added +932.2k +932,235
30 Sanctuary Advisors, LLC 1.80% of their portfolio INDIANAPOLIS, IN 1,404,2761.4m $593.1m $593.1m 1.80% Added +685.6k +685,599
31 MONETA GROUP INVESTMENT ADVISORS LLC 5.23% of their portfolio ST LOUIS, MO 1,372,6951.4m $658.4m $658.4m 5.23% Added +503.0k +503,034
32 Performance Wealth Partners, LLC 17.27% of their portfolio HINSDALE, IL 1,290,6661.3m $619.0m $619.0m 17.27% Reduced -25 -25
33 Modera Wealth Management, LLC 6.77% of their portfolio WESTWOOD, NJ 1,218,8541.2m $584.6m $584.6m 6.77% Added +23.6k +23,630
34 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 1,168,4821.2m $560.4m $560.4m 0.08% Reduced -16.6k -16,607
35 VANTAGEPOINT INVESTMENT ADVISERS LLC 4.21% of their portfolio WASHINGTON, DC 1,074,6501.1m $515.4m $515.4m 4.21% Added +1.1m +1,066,150
36 TRUIST FINANCIAL CORP 0.69% of their portfolio CHARLOTTE, NC 1,055,2721.1m $506.1m $506.1m 0.69% Added +24.6k +24,618
37 Wellspring Financial Advisors, LLC 0.93% of their portfolio CLEVELAND, OH 1,035,3341.0m $10.1m $10.1m 0.93% Added +92.7k +92,681
38 MISSION WEALTH MANAGEMENT, LP 10.04% of their portfolio Santa Barbara, CA 1,022,9161.0m $490.6m $490.6m 10.04% Reduced -10.4k -10,392
39 SIGNATURE ESTATE & INVESTMENT ADVISORS LLC 10.42% of their portfolio LOS ANGELES, CA 1,018,4621.0m $488.5m $488.5m 10.42% Reduced -4.4k -4,405
40 CHOREO, LLC 6.37% of their portfolio ROCKFORD, IL 1,017,9561.0m $488.7m $488.7m 6.37% Reduced -6.4k -6,436
41 OSAIC HOLDINGS, INC. 0.67% of their portfolio SCOTTSDALE, AZ 1,007,5121.0m $475.9m $475.9m 0.67% Added +82.9k +82,880
42 Wealthspire Advisors, LLC 2.31% of their portfolio NEW YORK, NY 922,884922.9k $442.6m $442.6m 2.31% Added +25.9k +25,908
43 CITIGROUP INC 0.29% of their portfolio NEW YORK, NY 878,018878.0k $421.1m $421.1m 0.29% Added +6.8k +6,832
44 TWO SIGMA INVESTMENTS, LP 0.64% of their portfolio NEW YORK, NY 866,100866.1k $415.4m $415.4m 0.64% Reduced -176.8k -176,800
45 Equitable Holdings, Inc. 3.05% of their portfolio NEW YORK, NY 865,136865.1k $414.9m $414.9m 3.05% Added +15.3k +15,279
46 CBIZ Investment Advisory Services, LLC 15.54% of their portfolio INDEPENDENCE, OH 827,656827.7k $397.0m $397.0m 15.54% Reduced -76.1k -76,127
47 Merit Financial Group, LLC 3.58% of their portfolio ALPHARETTA, GA 810,877810.9k $388.9m $388.9m 3.58% Reduced -6.6k -6,576
48 NATIXIS ADVISORS, LLC 0.05% of their portfolio Boston, MA 752,659752.7k $37.2m $37.2m 0.05% Added +58.1k +58,071
49 STIFEL FINANCIAL CORP 0.33% of their portfolio ST. LOUIS, MO 746,838746.8k $358.2m $358.2m 0.33% Added +11.0k +10,952
50 MML INVESTORS SERVICES, LLC 0.94% of their portfolio SPRINGFIELD, MA 737,447737.4k $353.7m $353.7m 0.94% Reduced -48.0k -47,963
51 Waverly Advisors, LLC 3.51% of their portfolio BIRMINGHAM, AL 733,236733.2k $351.7m $351.7m 3.51% Added +16.7k +16,667
52 LINCOLN NATIONAL CORP 9.22% of their portfolio RADNOR, PA 674,151674.2k $323.3m $323.3m 9.22% Reduced -23.9k -23,938
53 COLDSTREAM CAPITAL MANAGEMENT INC 4.16% of their portfolio BELLEVUE, WA 644,559644.6k $309.2m $309.2m 4.16% Added +166.9k +166,879
54 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio SAN FRANCISCO, CA 609,832609.8k $292.5m $292.5m 0.05% Reduced -77.1k -77,069
55 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.43% of their portfolio PLYMOUTH, MN 593,913593.9k $286.3m $286.3m 0.43% Reduced -7.1k -7,091
56 Baird Financial Group, Inc. 0.45% of their portfolio MILWAUKEE, WI 589,938589.9k $282.9m $282.9m 0.45% Added +120.0k +119,951
57 Cullen/Frost Bankers, Inc. 3.22% of their portfolio San Antonio, TX 577,506577.5k $277.0m $277.0m 3.22% Added +1.5k +1,478
58 Cerity Partners LLC 0.45% of their portfolio NEW YORK, NY 572,552572.6k $274.6m $274.6m 0.45% Added +178.0k +177,971
59 Focus Partners Wealth 0.44% of their portfolio ST LOUIS, MO 570,440570.4k $273.6m $273.6m 0.44% Added +16.4k +16,402
60 Waldron Private Wealth LLC 11.10% of their portfolio BRIDGEVILLE, PA 570,283570.3k $273.8m $273.8m 11.10% Added +11.7k +11,714
61 Bell Bank 11.81% of their portfolio FARGO, ND 568,297568.3k $272.6m $272.6m 11.81% Reduced -18.0k -17,972
62 ALLIANCEBERNSTEIN L.P. 0.08% of their portfolio NASHVILLE, TN 549,798549.8k $263.7m $263.7m 0.08% Reduced -173.0k -173,045
63 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.84% of their portfolio IRVING, TX 533,498533.5k $255.9m $255.9m 1.84% Added +2.2k +2,171
64 Retirement Investment Advisors, Inc. 21.07% of their portfolio OKLAHOMA CITY, OK 528,530528.5k $253.5m $253.5m 21.07% Reduced -1.4k -1,403
65 CWM, LLC 0.75% of their portfolio OMAHA, NE 518,983519.0k $248.9m $248.9m 0.75% Reduced -13.2k -13,207
66 Kestra Advisory Services, LLC 1.11% of their portfolio AUSTIN, TX 505,191505.2k $242.3m $242.3m 1.11% Reduced -2.7k -2,695
67 Cambridge Investment Research Advisors, Inc. 0.66% of their portfolio FAIRFIELD, IA 500,639500.6k $240.1m $240.1m 0.66% Added +18.4k +18,444
68 ASSETMARK, INC 0.51% of their portfolio CONCORD, CA 494,567494.6k $237.2m $237.2m 0.51% Reduced -19.5k -19,467
69 MATHER GROUP, LLC. 2.37% of their portfolio CHICAGO, IL 488,865488.9k $234.5m $234.5m 2.37% Reduced -59.6k -59,558
70 Beacon Pointe Advisors, LLC 1.93% of their portfolio NEWPORT BEACH, CA 473,296473.3k $227.0m $227.0m 1.93% Added +148.4k +148,355
71 Garde Capital, Inc. 10.95% of their portfolio SEATTLE, WA 454,355454.4k $217.9m $217.9m 10.95% Reduced -7.2k -7,196
72 Private Advisor Group, LLC 1.04% of their portfolio MORRISTOWN, NJ 442,476442.5k $212.2m $212.2m 1.04% Added +4.5k +4,462
73 Avior Wealth Management, LLC 6.81% of their portfolio OMAHA, NE 440,664440.7k $211.3m $211.3m 6.81% Reduced -6.4k -6,430
74 Rockefeller Capital Management L.P. 0.40% of their portfolio NEW YORK, NY 421,791421.8k $202.3m $202.3m 0.40% Reduced -292.0k -291,959
75 Truepoint, Inc. 4.69% of their portfolio CINCINNATI, OH 420,472420.5k $201.7m $201.7m 4.69% Reduced -5.0k -5,047
76 INVICTUS PRIVATE WEALTH, LLC 12.42% of their portfolio Denver, CO 413,490413.5k $198.3m $198.3m 12.42% Added +4.7k +4,716
77 NewEdge Advisors, LLC 0.88% of their portfolio NEW ORLEANS, LA 401,968402.0k $192.8m $192.8m 0.88% Reduced -11.8k -11,759
78 Brookstone Capital Management 2.30% of their portfolio WHEATON, IL 401,576401.6k $192.6m $192.6m 2.30% Added +15.4k +15,355
79 BOK Financial Private Wealth, Inc. 11.88% of their portfolio DENVER, CO 393,235393.2k $188.8m $188.8m 11.88% Reduced -7.1k -7,143
80 WOODMONT INVESTMENT COUNSEL LLC 12.47% of their portfolio NASHVILLE, TN 392,927392.9k $188.5m $188.5m 12.47% Reduced -17.8k -17,790
81 Japan Science & Technology Agency 3.00% of their portfolio TOKYO, M0 350,953351.0k $168.3m $168.3m 3.00% New
82 BANK OF HAWAII 8.16% of their portfolio HONOLULU, HI 340,774340.8k $163.4m $163.4m 8.16% Added +18.9k +18,851
83 MERCER GLOBAL ADVISORS INC /ADV 0.27% of their portfolio DENVER, CO 334,163334.2k $159.4m $159.4m 0.27% New
84 Cornerstone Management, Inc. 26.22% of their portfolio DULUTH, GA 330,607330.6k $158.6m $158.6m 26.22% Reduced -25.1k -25,128
85 MOSAIC FAMILY WEALTH PARTNERS, LLC 18.35% of their portfolio ST. LOUIS, MO 327,191327.2k $156.4m $156.4m 18.35% Added +5.0k +4,954
86 Rezny Wealth Management, Inc. 31.70% of their portfolio Fort Myers, FL 316,726316.7k $151.9m $151.9m 31.70% Reduced -7.2k -7,222
87 STEPHENS GROUP ASSET MANAGEMENT, LLC 10.22% of their portfolio LITTLE ROCK, AR 316,235316.2k $151.7m $151.7m 10.22% Reduced -24.3k -24,284
88 Creative Planning 0.11% of their portfolio OVERLAND PARK, KS 310,408310.4k $148.9m $148.9m 0.11% Added +13.5k +13,491
89 Betterment LLC 0.29% of their portfolio NEW YORK, NY 305,906305.9k $146.7m $146.7m 0.29% Added +15.8k +15,751
90 US BANCORP \DE\ 0.17% of their portfolio MINNEAPOLIS, MN 301,465301.5k $144.6m $144.6m 0.17% Reduced -1.4k -1,388
91 Howard Capital Management, LLC 1.88% of their portfolio Alpharetta, GA 297,144297.1k $142.5m $142.5m 1.88% Reduced -4.2k -4,223
92 Venturi Wealth Management, LLC 6.46% of their portfolio AUSTIN, TX 290,158290.2k $139.2m $139.2m 6.46% Added +279.6k +279,625
93 Orion Porfolio Solutions, LLC 1.07% of their portfolio OMAHA, NE 288,443288.4k $138.3m $138.3m 1.07% Added +19.8k +19,806
94 SIMON QUICK ADVISORS, LLC 6.18% of their portfolio MORRISTOWN, NJ 284,638284.6k $136.5m $136.5m 6.18% Added +1.4k +1,388
95 Sequoia Financial Advisors, LLC 0.78% of their portfolio Akron, OH 267,789267.8k $128.4m $128.4m 0.78% Added +100.6k +100,566
96 Strategies Wealth Advisors, LLC 13.21% of their portfolio GRAND RAPIDS, MI 264,826264.8k $127.0m $127.0m 13.21% Reduced -10.1k -10,093
97 Everhart Financial Group, Inc. 12.62% of their portfolio Dublin, OH 262,574262.6k $125.9m $125.9m 12.62% Added +11.8k +11,802
98 Financial Synergies Wealth Advisors, Inc. 12.71% of their portfolio HOUSTON, TX 261,760261.8k $125.5m $125.5m 12.71% Added +2.5k +2,476
99 Permanens Capital L.P. 18.17% of their portfolio NEW YORK, NY 253,775253.8k $121.8m $121.8m 18.17% Reduced -48.2k -48,212
100 BECKER CAPITAL MANAGEMENT INC 3.53% of their portfolio Portland, OR 251,839251.8k $120.9m $120.9m 3.53% Added +12.8k +12,771