Vault-13

VANGUARD INDEX FDS VTV

VALUE ETF · ETP · CUSIP 922908744

2,457 institutional holders +45 vs Q2 2025
559,277,568559.3m shares reported held*
$104.2bnreported value*
144 new 1,090 added 821 reduced 86 sold out net bought ≈ $4.1bn (+21.7m 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 ($249.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $186.28. Options: 6 managers hold calls ($28.7m notional), 5 hold puts ($6.7m).

Trends to Q3 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: 2,412Q3 25: 2,4572,457Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 20252,457

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ4 23: 916 bought or addedQ4 23: 788 cut or sold outQ1 24: 957 bought or addedQ1 24: 921 cut or sold outQ1 24Q2 24: 942 bought or addedQ2 24: 856 cut or sold outQ3 24: 1,096 bought or addedQ3 24: 776 cut or sold outQ3 24Q4 24: 1,129 bought or addedQ4 24: 787 cut or sold outQ1 25: 1,233 bought or addedQ1 25: 884 cut or sold outQ1 25Q2 25: 1,105 bought or addedQ2 25: 921 cut or sold outQ3 25: 1,234 bought or addedQ3 25: 907 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023916788
Q1 2024957921
Q2 2024942856
Q3 20241,096776
Q4 20241,129787
Q1 20251,233884
Q2 20251,105921
Q3 20251,234907

Calls vs puts

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

CallsPuts
$0$25m$50m$75m$100mQ4 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 0.28Q3 25 calls: $28.7mQ3 25 puts: $6.7mQ3 25P/C 0.23
Numbers
QuarterCallsPutsP/C
Q4 2024$90.5m$15.7m0.17
Q1 2025$30.6m$11.1m0.36
Q2 2025$36.9m$10.2m0.28
Q3 2025$28.7m$6.7m0.23

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +5,667,887+5.7m
Cetera Investment Advisers Added +4,200,716+4.2m
JPMORGAN CHASE & CO Added +3,507,490+3.5m
Focus Partners Wealth Added +2,550,844+2.6m
JONES FINANCIAL COMPANIES LLLP Added +1,684,472+1.7m
MONETA GROUP INVESTMENT ADVISORS LLC Added +1,428,525+1.4m
Sanctuary Advisors, LLC Added +1,215,156+1.2m
VANTAGEPOINT INVESTMENT ADVISERS LLC Added +1,164,799+1.2m
ENVESTNET ASSET MANAGEMENT INC Added +1,103,718+1.1m
COLDSTREAM CAPITAL MANAGEMENT INC Added +733,387+733.4k

Biggest sellers

ROYAL BANK OF CANADA Reduced -5,314,624-5.3m
BRANDES INVESTMENT PARTNERS, LP Reduced -847,518-847.5k
Rockefeller Capital Management L.P. Reduced -600,069-600.1k
NATIONAL BANK OF CANADA /FI/ Reduced -568,742-568.7k
Foster Group, Inc. Reduced -545,955-546.0k
Balentine LLC Reduced -545,288-545.3k
Thrivent Financial for Lutherans Reduced -534,015-534.0k
Provida Pension Fund Administrator Reduced -398,770-398.8k
Arax Advisory Partners Sold out -276,615-276.6k
MIDLAND WEALTH ADVISORS, LLC Reduced -215,520-215.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $12.9m69.1k shares
JANE STREET GROUP, LLC Reduced $8.9m47.9k shares
CITADEL ADVISORS LLC Reduced $6.1m32.9k shares
Belvedere Trading LLC Unchanged $466.2k2.5k shares
Cubist Systematic Strategies, LLC New $261.1k1.4k shares
Lavaca Capital LLC Unchanged $55.9k300 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.5m24.3k shares
CITADEL ADVISORS LLC Reduced $988.4k5.3k shares
Garde Capital, Inc. New $895.2k4.8k shares
Smith & Howard Wealth Management, LLC New $161.6k900 shares
UBS Group AG Added $130.5k700 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/ 1.87% of their portfolio CHARLOTTE, NC 133,808,505133.8m $25.0bn $25.0bn 1.87% Added +5.7m +5,667,887
2 JONES FINANCIAL COMPANIES LLLP 6.86% of their portfolio DES PERES, MO 53,966,78454.0m $10.1bn $10.1bn 6.86% Added +1.7m +1,684,472
3 MORGAN STANLEY 0.38% of their portfolio NEW YORK, NY 33,213,04333.2m $6.2bn $6.2bn 0.38% Added +537.7k +537,700
4 ENVESTNET ASSET MANAGEMENT INC 1.17% of their portfolio Berwyn, PA 21,895,96521.9m $4.1bn $4.1bn 1.17% Added +1.1m +1,103,718
5 UBS Group AG 0.50% of their portfolio ZURICH, V8 13,601,00013.6m $2.5bn $2.5bn 0.50% Reduced -168.8k -168,824
6 AMERIPRISE FINANCIAL INC 0.48% of their portfolio MINNEAPOLIS, MN 11,112,52111.1m $2.1bn $2.1bn 0.48% Added +479.9k +479,866
7 LPL Financial LLC 0.58% of their portfolio FORT MILL, SC 10,583,26410.6m $2.0bn $2.0bn 0.58% Added +241.8k +241,842
8 RAYMOND JAMES FINANCIAL INC 0.48% of their portfolio ST. PETERSBURG, FL 7,922,6867.9m $1.5bn $1.5bn 0.48% Added +476.1k +476,101
9 WELLS FARGO & COMPANY/MN 0.29% of their portfolio SAN FRANCISCO, CA 7,704,9937.7m $1.4bn $1.4bn 0.29% Added +176.7k +176,728
10 Cetera Investment Advisers 1.59% of their portfolio SCHAUMBURG, IL 7,337,3057.3m $1.4bn $1.4bn 1.59% Added +4.2m +4,200,716
11 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 7,045,1287.0m $1.3bn $1.3bn 0.04% Added +3.5m +3,507,490
12 TIAA TRUST, NATIONAL ASSOCIATION 2.95% of their portfolio CHARLOTTE, NC 6,514,6426.5m $1.2bn $1.2bn 2.95% Reduced -26.7k -26,676
13 CAPTRUST FINANCIAL ADVISORS 2.37% of their portfolio RALEIGH, NC 6,230,0666.2m $1.2bn $1.2bn 2.37% Added +364.4k +364,450
14 ROYAL BANK OF CANADA 0.18% of their portfolio TORONTO, A6 5,542,3805.5m $1.0bn $1.0bn 0.18% Reduced -5.3m -5,314,624
15 D.A. DAVIDSON & CO. 6.51% of their portfolio GREAT FALLS, MT 5,458,4625.5m $1.0bn $1.0bn 6.51% Added +149.4k +149,422
16 Mill Creek Capital Advisors, LLC 20.16% of their portfolio Conshohocken, PA 5,249,3745.2m $979.0m $979.0m 20.16% Reduced -33.4k -33,400
17 Betterment LLC 1.87% of their portfolio NEW YORK, NY 5,080,0355.1m $947.4m $947.4m 1.87% Reduced -116.5k -116,545
18 Mariner, LLC 1.14% of their portfolio Overland Park, KS 4,720,3564.7m $880.3m $880.3m 1.14% Added +60.5k +60,509
19 FMR LLC 0.04% of their portfolio BOSTON, MA 4,527,7614.5m $844.4m $844.4m 0.04% Reduced -39.4k -39,406
20 PNC Financial Services Group, Inc. 0.49% of their portfolio Pittsburgh, PA 4,305,5944.3m $803.0m $803.0m 0.49% Added +39.6k +39,644
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.48% of their portfolio MILWAUKEE, WI 3,866,0853.9m $721.0m $721.0m 0.48% Added +85.4k +85,410
22 RWA WEALTH PARTNERS, LLC 7.91% of their portfolio BOSTON, MA 3,735,1113.7m $696.6m $696.6m 7.91% Added +50.8k +50,804
23 SEI INVESTMENTS CO 0.73% of their portfolio OAKS, PA 3,656,1203.7m $681.8m $681.8m 0.73% Added +93.1k +93,080
24 Bank of New York Mellon Corp 0.12% of their portfolio NEW YORK, NY 3,514,1823.5m $655.4m $655.4m 0.12% Reduced -19.0k -18,983
25 TRUIST FINANCIAL CORP 0.84% of their portfolio CHARLOTTE, NC 3,322,7393.3m $619.7m $619.7m 0.84% Added +86.9k +86,949
26 COMMONWEALTH EQUITY SERVICES, LLC 0.79% of their portfolio WALTHAM, MA 3,284,6353.3m $612.6m $612.6m 0.79% Reduced -117.2k -117,154
27 HighTower Advisors, LLC 0.69% of their portfolio CHICAGO, IL 3,252,2123.3m $606.5m $606.5m 0.69% Added +118.2k +118,239
28 MONETA GROUP INVESTMENT ADVISORS LLC 4.79% of their portfolio ST LOUIS, MO 3,229,9303.2m $602.3m $602.3m 4.79% Added +1.4m +1,428,525
29 Focus Partners Wealth 0.97% of their portfolio ST LOUIS, MO 3,210,8073.2m $598.9m $598.9m 0.97% Added +2.6m +2,550,844
30 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 2,929,7762.9m $546.4m $546.4m 0.08% Added +44.0k +43,983
31 CITIGROUP INC 0.32% of their portfolio NEW YORK, NY 2,486,1482.5m $463.6m $463.6m 0.32% Added +239.5k +239,518
32 MISSION WEALTH MANAGEMENT, LP 9.17% of their portfolio Santa Barbara, CA 2,403,7352.4m $448.3m $448.3m 9.17% Added +78.6k +78,556
33 Sanctuary Advisors, LLC 1.31% of their portfolio INDIANAPOLIS, IN 2,399,1142.4m $430.9m $430.9m 1.31% Added +1.2m +1,215,156
34 OSAIC HOLDINGS, INC. 0.62% of their portfolio SCOTTSDALE, AZ 2,388,2202.4m $441.7m $441.7m 0.62% Added +232.1k +232,090
35 Provida Pension Fund Administrator 6.86% of their portfolio LAS CONDES, SANTIAGO, F3 2,112,6532.1m $394.0m $394.0m 6.86% Reduced -398.8k -398,770
36 CHOREO, LLC 5.11% of their portfolio ROCKFORD, IL 2,094,1652.1m $392.5m $392.5m 5.11% Reduced -15.6k -15,575
37 CBIZ Investment Advisory Services, LLC 15.16% of their portfolio INDEPENDENCE, OH 2,076,2632.1m $387.3m $387.3m 15.16% Added +19.7k +19,728
38 Modera Wealth Management, LLC 3.68% of their portfolio WESTWOOD, NJ 1,702,3821.7m $317.5m $317.5m 3.68% Added +51.3k +51,302
39 Richard Bernstein Advisors LLC 8.99% of their portfolio NEW YORK, NY 1,692,4631.7m $315.1m $315.1m 8.99% Reduced -55.3k -55,308
40 COLDSTREAM CAPITAL MANAGEMENT INC 4.26% of their portfolio BELLEVUE, WA 1,691,1861.7m $316.1m $316.1m 4.26% Added +733.4k +733,387
41 STIFEL FINANCIAL CORP 0.27% of their portfolio ST. LOUIS, MO 1,583,6811.6m $295.3m $295.3m 0.27% Added +32.4k +32,377
42 Waldron Private Wealth LLC 11.50% of their portfolio BRIDGEVILLE, PA 1,514,4641.5m $283.9m $283.9m 11.50% Added +65.0k +65,048
43 Members Trust Co 9.19% of their portfolio TAMPA, FL 1,498,8911.5m $279.5m $279.5m 9.19% Reduced -8.3k -8,305
44 Facet Wealth, Inc. 5.73% of their portfolio WEST PALM BEACH, FL 1,485,2181.5m $277.0m $277.0m 5.73% Added +54.5k +54,550
45 LINCOLN NATIONAL CORP 7.87% of their portfolio RADNOR, PA 1,480,4691.5m $276.1m $276.1m 7.87% Added +19.1k +19,087
46 Bell Bank 11.76% of their portfolio FARGO, ND 1,456,4041.5m $271.6m $271.6m 11.76% Added +47.3k +47,255
47 Baird Financial Group, Inc. 0.44% of their portfolio MILWAUKEE, WI 1,453,5901.5m $271.1m $271.1m 0.44% Added +27.2k +27,250
48 ASSETMARK, INC 0.58% of their portfolio CONCORD, CA 1,448,1641.4m $270.1m $270.1m 0.58% Added +15.1k +15,078
49 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.90% of their portfolio IRVING, TX 1,418,6921.4m $264.6m $264.6m 1.90% Added +30.6k +30,597
50 Retirement Investment Advisors, Inc. 20.90% of their portfolio OKLAHOMA CITY, OK 1,347,9671.3m $251.4m $251.4m 20.90% Added +35.8k +35,824
51 MML INVESTORS SERVICES, LLC 0.64% of their portfolio SPRINGFIELD, MA 1,288,5931.3m $240.3m $240.3m 0.64% Reduced -14.2k -14,158
52 ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio NASHVILLE, TN 1,267,0941.3m $236.3m $236.3m 0.07% Reduced -11.5k -11,469
53 Equitable Holdings, Inc. 1.69% of their portfolio NEW YORK, NY 1,230,2061.2m $229.4m $229.4m 1.69% Added +104.4k +104,382
54 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.35% of their portfolio PLYMOUTH, MN 1,221,7131.2m $228.7m $228.7m 0.35% Added +42.1k +42,107
55 VANTAGEPOINT INVESTMENT ADVISERS LLC 1.83% of their portfolio WASHINGTON, DC 1,202,5191.2m $224.3m $224.3m 1.83% Added +1.2m +1,164,799
56 MATHER GROUP, LLC. 2.20% of their portfolio CHICAGO, IL 1,170,6601.2m $218.3m $218.3m 2.20% Reduced -68.3k -68,294
57 SCS Capital Management LLC 2.28% of their portfolio BOSTON, MA 1,121,0991.1m $209.2m $209.2m 2.28% Added +20.3k +20,288
58 NorthCoast Asset Management LLC 0.80% of their portfolio STAMFORD, CT 1,106,2651.1m $206.3m $206.3m 0.80% Reduced -8.3k -8,316
59 NewEdge Advisors, LLC 0.93% of their portfolio NEW ORLEANS, LA 1,094,7981.1m $204.2m $204.2m 0.93% Added +180.3k +180,255
60 Garde Capital, Inc. 10.12% of their portfolio SEATTLE, WA 1,079,3191.1m $201.3m $201.3m 10.12% Added +14.4k +14,378
61 Corient Private Wealth LP 0.32% of their portfolio MIAMI, FL 1,078,5421.1m $201.2m $201.2m 0.32% Added +468.2k +468,228
62 Cerity Partners LLC 0.31% of their portfolio NEW YORK, NY 1,016,8391.0m $189.6m $189.6m 0.31% Added +124.2k +124,233
63 Cambridge Investment Research Advisors, Inc. 0.51% of their portfolio FAIRFIELD, IA 986,565986.6k $184.0m $184.0m 0.51% Added +26.6k +26,627
64 Private Advisor Group, LLC 0.90% of their portfolio MORRISTOWN, NJ 983,454983.5k $183.4m $183.4m 0.90% Reduced -62.1k -62,132
65 STEPHENS GROUP ASSET MANAGEMENT, LLC 12.15% of their portfolio LITTLE ROCK, AR 966,322966.3k $180.2m $180.2m 12.15% Added +37.6k +37,582
66 Brookstone Capital Management 2.15% of their portfolio WHEATON, IL 964,897964.9k $179.9m $179.9m 2.15% Added +57.6k +57,592
67 CIBC Private Wealth Group LLC 0.30% of their portfolio ATLANTA, GA 952,759952.8k $177.7m $177.7m 0.30% Reduced -40.5k -40,462
68 Wellspring Financial Advisors, LLC 1.19% of their portfolio CLEVELAND, OH 903,246903.2k $12.9m $12.9m 1.19% Reduced -8.1k -8,060
69 Systematic Alpha Investments, LLC 5.49% of their portfolio PRINCETON, NJ 894,868894.9k $166.9m $166.9m 5.49% Unchanged
70 Merit Financial Group, LLC 1.53% of their portfolio ALPHARETTA, GA 892,908892.9k $166.5m $166.5m 1.53% Added +16.9k +16,934
71 BNP PARIBAS FINANCIAL MARKETS 0.13% of their portfolio PARIS, I0 874,002874.0k $163.0m $163.0m 0.13% Added +26.3k +26,331
72 Rockefeller Capital Management L.P. 0.32% of their portfolio NEW YORK, NY 867,057867.1k $161.7m $161.7m 0.32% Reduced -600.1k -600,069
73 US BANCORP \DE\ 0.19% of their portfolio MINNEAPOLIS, MN 840,174840.2k $156.7m $156.7m 0.19% Reduced -44.1k -44,075
74 Beacon Pointe Advisors, LLC 1.29% of their portfolio NEWPORT BEACH, CA 817,059817.1k $152.4m $152.4m 1.29% Reduced -94.3k -94,301
75 BLAIR WILLIAM & CO/IL 0.40% of their portfolio CHICAGO, IL 804,306804.3k $150.0m $150.0m 0.40% Reduced -19.6k -19,556
76 Thrive Wealth Management, LLC 22.55% of their portfolio AUDUBON, PA 801,260801.3k $149.4m $149.4m 22.55% Added +26.8k +26,779
77 Kestra Advisory Services, LLC 0.68% of their portfolio AUSTIN, TX 792,300792.3k $147.8m $147.8m 0.68% Reduced -5.5k -5,477
78 VISTA CAPITAL PARTNERS, INC. 14.80% of their portfolio PORTLAND, OR 780,311780.3k $145.5m $145.5m 14.80% Reduced -1.1k -1,108
79 Saudi Central Bank 5.39% of their portfolio Riyadh, T0 756,686756.7k $141.8m $141.8m 5.39% Unchanged
80 Everhart Financial Group, Inc. 14.11% of their portfolio Dublin, OH 754,754754.8k $140.8m $140.8m 14.11% Added +68.9k +68,888
81 RMG Wealth Management LLC 19.01% of their portfolio PLATTEVILLE, WI 722,136722.1k $135.0m $135.0m 19.01% Added +720.4k +720,357
82 Prime Capital Investment Advisors, LLC 1.69% of their portfolio OVERLAND PARK, KS 721,058721.1k $134.5m $134.5m 1.69% Added +4.8k +4,850
83 Creative Planning 0.10% of their portfolio OVERLAND PARK, KS 717,909717.9k $133.9m $133.9m 0.10% Added +18.9k +18,908
84 WOODMONT INVESTMENT COUNSEL LLC 8.74% of their portfolio NASHVILLE, TN 708,345708.3k $132.1m $132.1m 8.74% Reduced -45.4k -45,380
85 Sequoia Financial Advisors, LLC 0.79% of their portfolio Akron, OH 697,392697.4k $130.1m $130.1m 0.79% Added +18.1k +18,055
86 Strategies Wealth Advisors, LLC 13.49% of their portfolio GRAND RAPIDS, MI 695,635695.6k $129.7m $129.7m 13.49% Added +7.9k +7,895
87 BRANDYWINE OAK PRIVATE WEALTH LLC 11.15% of their portfolio Kennett Square, PA 687,779687.8k $128.3m $128.3m 11.15% Added +15.3k +15,269
88 Clearstead Advisors, LLC 1.85% of their portfolio CLEVELAND, OH 680,828680.8k $127.0m $127.0m 1.85% Added +13.0k +13,047
89 Mountain Capital Investment Advisors Inc. 21.66% of their portfolio WESTMINSTER, CO 658,072658.1k $123.0m $123.0m 21.66% Reduced -45.3k -45,266
90 CITIZENS FINANCIAL GROUP INC/RI 1.69% of their portfolio PROVIDENCE, RI 657,583657.6k $123.2m $123.2m 1.69% Reduced -13.2k -13,178
91 Permanens Capital L.P. 18.35% of their portfolio NEW YORK, NY 656,355656.4k $123.0m $123.0m 18.35% Reduced -140.7k -140,675
92 Focused Wealth Management, Inc 13.22% of their portfolio Newburgh, NY 655,219655.2k $122.2m $122.2m 13.22% Added +31.0k +31,045
93 Capitolis Liquid Global Markets LLC 0.97% of their portfolio NEW YORK, NY 654,500654.5k $122.1m $122.1m 0.97% Added +344.4k +344,400
94 CARY STREET PARTNERS FINANCIAL LLC 3.15% of their portfolio RICHMOND, VA 651,348651.3k $121.5m $121.5m 3.15% Added +35.7k +35,660
95 Brickley Wealth Management 20.87% of their portfolio SAN MATEO, CA 642,107642.1k $119.7m $119.7m 20.87% Added +1.8k +1,841
96 Envestnet Portfolio Solutions, Inc. 0.44% of their portfolio BERWYN, PA 633,514633.5k $118.1m $118.1m 0.44% Reduced -15.6k -15,569
97 Foster Group, Inc. 3.68% of their portfolio WEST DES MOINES, IA 628,837628.8k $117.3m $117.3m 3.68% Reduced -546.0k -545,955
98 PARTNERS CAPITAL INVESTMENT GROUP, LLP 4.57% of their portfolio BOSTON, MA 616,349616.3k $114.9m $114.9m 4.57% Reduced -46.5k -46,461
99 SIMON QUICK ADVISORS, LLC 5.02% of their portfolio MORRISTOWN, NJ 595,203595.2k $111.0m $111.0m 5.02% Added +14.4k +14,395
100 Sumitomo Mitsui DS Asset Management Company, Ltd 0.89% of their portfolio TOKYO, M0 587,713587.7k $109.6m $109.6m 0.89% Added +27.8k +27,764