Vault-13

VANGUARD INDEX FDS VTV

VALUE ETF · ETP · CUSIP 922908744

2,412 institutional holders +38 vs Q1 2025
548,317,975548.3m shares reported held*
$96.8bnreported value*
116 new 989 added 840 reduced 81 sold out net bought ≈ $1.8bn (+9.9m 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 ($215.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $176.53. Options: 6 managers hold calls ($36.9m notional), 4 hold puts ($10.2m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,647Q4 22: 1,829Q1 23: 1,800Q2 23: 1,830Q3 23: 1,843Q4 23: 2,043Q1 24: 2,063Q2 24: 2,070Q3 24: 2,146Q4 24: 2,370Q1 25: 2,374Q2 25: 2,4122,412Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221,647
Q4 20221,829
Q1 20231,800
Q2 20231,830
Q3 20231,843
Q4 20232,043
Q1 20242,063
Q2 20242,070
Q3 20242,146
Q4 20242,370
Q1 20252,374
Q2 20252,412

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ3 23: 906 bought or addedQ3 23: 744 cut or sold outQ4 23: 916 bought or addedQ4 23: 788 cut or sold outQ4 23Q1 24: 957 bought or addedQ1 24: 921 cut or sold outQ2 24: 942 bought or addedQ2 24: 856 cut or sold outQ2 24Q3 24: 1,096 bought or addedQ3 24: 776 cut or sold outQ4 24: 1,129 bought or addedQ4 24: 787 cut or sold outQ4 24Q1 25: 1,233 bought or addedQ1 25: 884 cut or sold outQ2 25: 1,105 bought or addedQ2 25: 921 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023906744
Q4 2023916788
Q1 2024957921
Q2 2024942856
Q3 20241,096776
Q4 20241,129787
Q1 20251,233884
Q2 20251,105921

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ3 24 calls: $164.6mQ3 24 puts: $46.3mQ3 24P/C 0.28Q4 24 calls: $90.5mQ4 24 puts: $15.7mQ4 24P/C 0.17Q1 25 calls: $30.6mQ1 25 puts: $11.1mQ1 25P/C 0.36Q2 25 calls: $36.9mQ2 25 puts: $10.2mQ2 25P/C 0.28
Numbers
QuarterCallsPutsP/C
Q3 2024$164.6m$46.3m0.28
Q4 2024$90.5m$15.7m0.17
Q1 2025$30.6m$11.1m0.36
Q2 2025$36.9m$10.2m0.28

Biggest buyers

ROYAL BANK OF CANADA Added +5,540,552+5.5m
BANK OF AMERICA CORP /DE/ Added +3,837,576+3.8m
ALLIANCEBERNSTEIN L.P. Added +1,005,350+1.0m
Rockefeller Capital Management L.P. Added +879,688+879.7k
BRANDES INVESTMENT PARTNERS, LP Added +848,997+849.0k
Saudi Central Bank New +756,686+756.7k
CITIGROUP INC Added +736,741+736.7k
COLDSTREAM CAPITAL MANAGEMENT INC Added +689,815+689.8k
Merit Financial Group, LLC Added +686,148+686.1k
Cetera Investment Advisers Added +684,546+684.5k

Biggest sellers

Caisse de depot et placement du Quebec Sold out -4,853,562-4.9m
JONES FINANCIAL COMPANIES LLLP Reduced -1,798,040-1.8m
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -1,573,216-1.6m
PARTNERS CAPITAL INVESTMENT GROUP, LLP Reduced -1,000,237-1.0m
RWA WEALTH PARTNERS, LLC Reduced -695,410-695.4k
Russell Investments Group, Ltd. Reduced -472,314-472.3k
GOLDMAN SACHS GROUP INC Reduced -433,244-433.2k
CSM Advisors, LLC Reduced -357,098-357.1k
Atria Wealth Solutions, Inc. Reduced -346,696-346.7k
Envestnet Portfolio Solutions, Inc. Reduced -284,485-284.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $18.3m103.4k shares
JANE STREET GROUP, LLC Added $9.5m54.0k shares
CITADEL ADVISORS LLC Added $5.9m33.5k shares
Twin Tree Management, LP Unchanged $2.2m12.4k shares
Lavaca Capital LLC Unchanged $530.0k300 shares
Belvedere Trading LLC Unchanged $441.9k2.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $8.3m47.0k shares
CITADEL ADVISORS LLC Reduced $1.4m8.0k shares
JANE STREET GROUP, LLC New $371.2k2.1k shares
UBS Group AG Unchanged $70.7k400 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/ 1.83% of their portfolio CHARLOTTE, NC 128,140,618128.1m $22.6bn $22.6bn 1.83% Added +3.8m +3,837,576
2 JONES FINANCIAL COMPANIES LLLP 7.00% of their portfolio DES PERES, MO 52,282,31252.3m $9.2bn $9.2bn 7.00% Reduced -1.8m -1,798,040
3 MORGAN STANLEY 0.38% of their portfolio NEW YORK, NY 32,675,34332.7m $5.8bn $5.8bn 0.38% Added +559.7k +559,749
4 ENVESTNET ASSET MANAGEMENT INC 1.07% of their portfolio Berwyn, PA 20,792,24720.8m $3.7bn $3.7bn 1.07% Added +578.5k +578,461
5 UBS Group AG 0.51% of their portfolio ZURICH, V8 13,769,82413.8m $2.4bn $2.4bn 0.51% Added +343.9k +343,858
6 ROYAL BANK OF CANADA 0.19% of their portfolio TORONTO, A6 10,857,00410.9m $1.9bn $1.9bn 0.19% Added +5.5m +5,540,552
7 AMERIPRISE FINANCIAL INC 0.46% of their portfolio MINNEAPOLIS, MN 10,632,65510.6m $1.9bn $1.9bn 0.46% Reduced -50.4k -50,407
8 LPL Financial LLC 0.61% of their portfolio FORT MILL, SC 10,341,42210.3m $1.8bn $1.8bn 0.61% Added +356.4k +356,413
9 WELLS FARGO & COMPANY/MN 0.29% of their portfolio SAN FRANCISCO, CA 7,528,2657.5m $1.3bn $1.3bn 0.29% Added +407.1k +407,065
10 RAYMOND JAMES FINANCIAL INC 0.45% of their portfolio ST. PETERSBURG, FL 7,446,5857.4m $1.3bn $1.3bn 0.45% Reduced -237.1k -237,146
11 TIAA TRUST, NATIONAL ASSOCIATION 3.01% of their portfolio CHARLOTTE, NC 6,541,3186.5m $1.2bn $1.2bn 3.01% Added +42.1k +42,087
12 CAPTRUST FINANCIAL ADVISORS 2.31% of their portfolio RALEIGH, NC 5,865,6165.9m $1.0bn $1.0bn 2.31% Added +220.9k +220,861
13 D.A. DAVIDSON & CO. 6.61% of their portfolio GREAT FALLS, MT 5,309,0405.3m $938.3m $938.3m 6.61% Added +124.2k +124,233
14 Mill Creek Capital Advisors, LLC 20.70% of their portfolio Conshohocken, PA 5,282,7745.3m $933.7m $933.7m 20.70% Reduced -94.7k -94,701
15 Betterment LLC 1.96% of their portfolio NEW YORK, NY 5,196,5805.2m $918.4m $918.4m 1.96% Reduced -28.9k -28,896
16 Mariner, LLC 1.19% of their portfolio Overland Park, KS 4,659,8474.7m $823.6m $823.6m 1.19% Added +177.1k +177,082
17 FMR LLC 0.05% of their portfolio BOSTON, MA 4,567,1674.6m $807.2m $807.2m 0.05% Reduced -83.3k -83,287
18 PNC Financial Services Group, Inc. 0.49% of their portfolio Pittsburgh, PA 4,265,9504.3m $754.0m $754.0m 0.49% Added +39.8k +39,828
19 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.49% of their portfolio MILWAUKEE, WI 3,780,6753.8m $668.2m $668.2m 0.49% Added +421.9k +421,903
20 RWA WEALTH PARTNERS, LLC 8.15% of their portfolio BOSTON, MA 3,684,3073.7m $651.2m $651.2m 8.15% Reduced -695.4k -695,410
21 SEI INVESTMENTS CO 0.73% of their portfolio OAKS, PA 3,563,0403.6m $629.7m $629.7m 0.73% Added +79.8k +79,844
22 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 3,537,6383.5m $625.2m $625.2m 0.04% Reduced -27.1k -27,110
23 Bank of New York Mellon Corp 0.12% of their portfolio NEW YORK, NY 3,533,1653.5m $624.5m $624.5m 0.12% Reduced -8.1k -8,053
24 COMMONWEALTH EQUITY SERVICES, LLC 0.79% of their portfolio WALTHAM, MA 3,401,7893.4m $601.2m $601.2m 0.79% Reduced -33.2k -33,172
25 AVANTAX ADVISORY SERVICES, INC. 3.21% of their portfolio DALLAS, TX 3,301,0153.3m $583.4m $583.4m 3.21% Reduced -1.4k -1,357
26 TRUIST FINANCIAL CORP 0.84% of their portfolio CHARLOTTE, NC 3,235,7903.2m $571.9m $571.9m 0.84% Added +185.1k +185,077
27 Cetera Investment Advisers 0.94% of their portfolio SCHAUMBURG, IL 3,136,5893.1m $554.4m $554.4m 0.94% Added +684.5k +684,546
28 HighTower Advisors, LLC 0.69% of their portfolio CHICAGO, IL 3,133,9733.1m $553.9m $553.9m 0.69% Added +209.0k +208,979
29 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 2,885,7932.9m $510.0m $510.0m 0.08% Reduced -433.2k -433,244
30 CHURCHILL MANAGEMENT Corp 4.91% of their portfolio Los Angeles, CA 2,561,7372.6m $452.8m $452.8m 4.91% Added +4.6k +4,637
31 Provida Pension Fund Administrator 8.04% of their portfolio LAS CONDES, SANTIAGO, F3 2,511,4232.5m $443.9m $443.9m 8.04% Reduced -283.3k -283,310
32 MISSION WEALTH MANAGEMENT, LP 8.97% of their portfolio Santa Barbara, CA 2,325,1792.3m $411.0m $411.0m 8.97% Added +60.4k +60,397
33 CITIGROUP INC 0.28% of their portfolio NEW YORK, NY 2,246,6302.2m $397.1m $397.1m 0.28% Added +736.7k +736,741
34 EP Wealth Advisors, LLC 2.60% of their portfolio TORRANCE, CA 2,234,8732.2m $395.0m $395.0m 2.60% Reduced -148.2k -148,224
35 OSAIC HOLDINGS, INC. 0.68% of their portfolio SCOTTSDALE, AZ 2,156,1302.2m $380.7m $380.7m 0.68% Added +324.1k +324,124
36 CHOREO, LLC 5.23% of their portfolio ROCKFORD, IL 2,109,7402.1m $374.9m $374.9m 5.23% Reduced -34.0k -34,043
37 CBIZ Investment Advisory Services, LLC 16.10% of their portfolio INDEPENDENCE, OH 2,056,5352.1m $363.6m $363.6m 16.10% Added +53.7k +53,682
38 MONETA GROUP INVESTMENT ADVISORS LLC 3.79% of their portfolio ST LOUIS, MO 1,801,4051.8m $318.4m $318.4m 3.79% Added +15.0k +14,953
39 Richard Bernstein Advisors LLC 7.62% of their portfolio NEW YORK, NY 1,747,7711.7m $308.9m $308.9m 7.62% Reduced -73.9k -73,885
40 Modera Wealth Management, LLC 3.61% of their portfolio WESTWOOD, NJ 1,651,0801.7m $291.8m $291.8m 3.61% Reduced -11.7k -11,664
41 STIFEL FINANCIAL CORP 0.27% of their portfolio ST. LOUIS, MO 1,551,3041.6m $274.2m $274.2m 0.27% Added +57.8k +57,820
42 Members Trust Co 9.18% of their portfolio TAMPA, FL 1,507,1961.5m $266.4m $266.4m 9.18% Reduced -119.8k -119,792
43 Rockefeller Capital Management L.P. 0.30% of their portfolio NEW YORK, NY 1,467,1261.5m $259.3m $259.3m 0.30% Added +879.7k +879,688
44 LINCOLN NATIONAL CORP 7.83% of their portfolio RADNOR, PA 1,461,3821.5m $258.3m $258.3m 7.83% Added +34.9k +34,905
45 Waldron Private Wealth LLC 11.23% of their portfolio BRIDGEVILLE, PA 1,449,4161.4m $257.6m $257.6m 11.23% Added +5.5k +5,535
46 ASSETMARK, INC 0.60% of their portfolio CONCORD, CA 1,433,0861.4m $253.3m $253.3m 0.60% Reduced -153.2k -153,204
47 Facet Wealth, Inc. 5.76% of their portfolio WEST PALM BEACH, FL 1,430,6681.4m $253.3m $253.3m 5.76% Reduced -214.1k -214,098
48 Baird Financial Group, Inc. 0.44% of their portfolio MILWAUKEE, WI 1,426,3401.4m $252.1m $252.1m 0.44% Added +11.6k +11,636
49 Bell Bank 11.61% of their portfolio FARGO, ND 1,409,1491.4m $249.1m $249.1m 11.61% Added +175.9k +175,941
50 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.98% of their portfolio IRVING, TX 1,388,0951.4m $245.3m $245.3m 1.98% Reduced -5.5k -5,473
51 Money Design Co.,Ltd. 11.43% of their portfolio TOKYO, M0 1,384,9811.4m $244.8m $244.8m 11.43% Added +65.8k +65,773
52 Retirement Investment Advisors, Inc. 20.86% of their portfolio OKLAHOMA CITY, OK 1,312,1431.3m $231.9m $231.9m 20.86% Added +65.2k +65,179
53 MML INVESTORS SERVICES, LLC 0.66% of their portfolio SPRINGFIELD, MA 1,302,7511.3m $230.2m $230.2m 0.66% Reduced -38.5k -38,503
54 ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio NASHVILLE, TN 1,278,5631.3m $226.0m $226.0m 0.07% Added +1.0m +1,005,350
55 MATHER GROUP, LLC. 2.34% of their portfolio CHICAGO, IL 1,238,9541.2m $219.0m $219.0m 2.34% Added +25.0k +25,034
56 Sanctuary Advisors, LLC 1.30% of their portfolio INDIANAPOLIS, IN 1,183,9581.2m $209.3m $209.3m 1.30% Reduced -16.6k -16,574
57 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.35% of their portfolio PLYMOUTH, MN 1,179,6061.2m $211.9m $211.9m 0.35% Added +18.5k +18,498
58 Foster Group, Inc. 7.11% of their portfolio WEST DES MOINES, IA 1,174,7921.2m $207.6m $207.6m 7.11% Reduced -4.7k -4,698
59 Equitable Holdings, Inc. 1.64% of their portfolio NEW YORK, NY 1,125,8241.1m $199.0m $199.0m 1.64% Reduced -109.3k -109,334
60 NorthCoast Asset Management LLC 0.84% of their portfolio STAMFORD, CT 1,114,5811.1m $197.0m $197.0m 0.84% Added +34.3k +34,268
61 SCS Capital Management LLC 2.16% of their portfolio BOSTON, MA 1,100,8111.1m $194.6m $194.6m 2.16% Reduced -3.2k -3,196
62 Garde Capital, Inc. 10.07% of their portfolio SEATTLE, WA 1,064,9411.1m $188.2m $188.2m 10.07% Reduced -33.4k -33,369
63 Private Advisor Group, LLC 1.00% of their portfolio MORRISTOWN, NJ 1,045,5861.0m $184.8m $184.8m 1.00% Added +20.3k +20,315
64 CIBC Private Wealth Group LLC 0.31% of their portfolio ATLANTA, GA 993,221993.2k $175.5m $175.5m 0.31% Reduced -7.1k -7,085
65 Cambridge Investment Research Advisors, Inc. 0.52% of their portfolio FAIRFIELD, IA 959,938959.9k $169.7m $169.7m 0.52% Added +5.6k +5,554
66 COLDSTREAM CAPITAL MANAGEMENT INC 2.78% of their portfolio BELLEVUE, WA 957,799957.8k $169.9m $169.9m 2.78% Added +689.8k +689,815
67 STEPHENS GROUP ASSET MANAGEMENT, LLC 11.81% of their portfolio LITTLE ROCK, AR 928,740928.7k $164.1m $164.1m 11.81% Added +80.6k +80,555
68 NewEdge Advisors, LLC 0.83% of their portfolio NEW ORLEANS, LA 914,543914.5k $161.6m $161.6m 0.83% Added +41.8k +41,758
69 Beacon Pointe Advisors, LLC 1.68% of their portfolio NEWPORT BEACH, CA 911,360911.4k $161.1m $161.1m 1.68% Added +46.2k +46,233
70 Wellspring Financial Advisors, LLC 1.38% of their portfolio CLEVELAND, OH 911,306911.3k $13.7m $13.7m 1.38% Reduced -6.3k -6,348
71 Brookstone Capital Management 2.10% of their portfolio WHEATON, IL 907,305907.3k $160.4m $160.4m 2.10% Added +16.2k +16,186
72 Systematic Alpha Investments, LLC 5.62% of their portfolio PRINCETON, NJ 894,868894.9k $158.2m $158.2m 5.62% Unchanged
73 Cerity Partners LLC 0.28% of their portfolio NEW YORK, NY 892,606892.6k $157.8m $157.8m 0.28% Added +139.6k +139,577
74 US BANCORP \DE\ 0.20% of their portfolio MINNEAPOLIS, MN 884,249884.2k $156.3m $156.3m 0.20% Reduced -7.9k -7,926
75 Merit Financial Group, LLC 1.73% of their portfolio ALPHARETTA, GA 875,974876.0k $154.8m $154.8m 1.73% Added +686.1k +686,148
76 BRANDES INVESTMENT PARTNERS, LP 1.36% of their portfolio LA JOLLA, CA 850,835850.8k $150.4m $150.4m 1.36% Added +849.0k +848,997
77 BNP PARIBAS FINANCIAL MARKETS 0.12% of their portfolio PARIS, I0 847,671847.7k $149.8m $149.8m 0.12% Added +675.3k +675,283
78 BLAIR WILLIAM & CO/IL 0.40% of their portfolio CHICAGO, IL 823,862823.9k $145.6m $145.6m 0.40% Added +58.1k +58,110
79 Kestra Advisory Services, LLC 0.69% of their portfolio AUSTIN, TX 797,777797.8k $141.0m $141.0m 0.69% Reduced -44.7k -44,668
80 Permanens Capital L.P. 19.31% of their portfolio NEW YORK, NY 797,030797.0k $141.6m $141.6m 19.31% Added +9.2k +9,202
81 VISTA CAPITAL PARTNERS, INC. 15.12% of their portfolio PORTLAND, OR 781,419781.4k $138.1m $138.1m 15.12% Reduced -15.1k -15,106
82 Thrive Wealth Management, LLC 22.10% of their portfolio AUDUBON, PA 774,481774.5k $136.9m $136.9m 22.10% Added +23.4k +23,392
83 Saudi Central Bank 5.48% of their portfolio Riyadh, T0 756,686756.7k $134.5m $134.5m 5.48% New
84 WOODMONT INVESTMENT COUNSEL LLC 8.79% of their portfolio NASHVILLE, TN 753,725753.7k $133.2m $133.2m 8.79% Added +24.3k +24,282
85 Prime Capital Investment Advisors, LLC 1.68% of their portfolio OVERLAND PARK, KS 716,208716.2k $126.6m $126.6m 1.68% Reduced -266.2k -266,207
86 Mountain Capital Investment Advisors Inc. 24.13% of their portfolio WESTMINSTER, CO 703,338703.3k $125.6m $125.6m 24.13% Reduced -25.4k -25,354
87 Creative Planning 0.11% of their portfolio OVERLAND PARK, KS 699,001699.0k $123.5m $123.5m 0.11% Added +10.3k +10,338
88 Strategies Wealth Advisors, LLC 13.28% of their portfolio GRAND RAPIDS, MI 687,740687.7k $121.6m $121.6m 13.28% Reduced -1.4k -1,377
89 Everhart Financial Group, Inc. 14.01% of their portfolio Dublin, OH 685,866685.9k $121.2m $121.2m 14.01% Added +66.7k +66,673
90 Sequoia Financial Advisors, LLC 0.82% of their portfolio Akron, OH 679,337679.3k $120.1m $120.1m 0.82% Reduced -51.3k -51,253
91 BRANDYWINE OAK PRIVATE WEALTH LLC 11.01% of their portfolio Kennett Square, PA 672,510672.5k $118.9m $118.9m 11.01% Added +17.0k +16,969
92 CITIZENS FINANCIAL GROUP INC/RI 1.91% of their portfolio PROVIDENCE, RI 670,761670.8k $119.1m $119.1m 1.91% Reduced -3.3k -3,332
93 Clearstead Advisors, LLC 1.66% of their portfolio CLEVELAND, OH 667,781667.8k $118.0m $118.0m 1.66% Added +9.9k +9,872
94 PARTNERS CAPITAL INVESTMENT GROUP, LLP 4.69% of their portfolio BOSTON, MA 662,810662.8k $117.1m $117.1m 4.69% Reduced -1.0m -1,000,237
95 Focus Partners Wealth 0.25% of their portfolio ST LOUIS, MO 659,963660.0k $116.8m $116.8m 0.25% Reduced -3.8k -3,765
96 NEPC LLC 2.95% of their portfolio Boston, MA 659,573659.6k $116.6m $116.6m 2.95% Reduced -101.6k -101,593
97 Envestnet Portfolio Solutions, Inc. 0.42% of their portfolio BERWYN, PA 649,083649.1k $114.7m $114.7m 0.42% Reduced -284.5k -284,485
98 Brickley Wealth Management 22.15% of their portfolio SAN MATEO, CA 640,266640.3k $113.2m $113.2m 22.15% Added +2.7k +2,684
99 Focused Wealth Management, Inc 13.46% of their portfolio Newburgh, NY 624,174624.2k $110.3m $110.3m 13.46% Reduced -3.6k -3,633
100 Thrivent Financial for Lutherans 0.24% of their portfolio Minneapolis, MN 622,416622.4k $110.0m $110.0m 0.24% Added +297.4k +297,392