Vault-13

VANGUARD INDEX FDS VTV

VALUE ETF · ETP · CUSIP 922908744

2,673 institutional holders +216 vs Q3 2025
591,281,576591.3m shares reported held*
$110.7bnreported value*
131 new 1,174 added 771 reduced 82 sold out net bought ≈ $1.8bn (+9.6m 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 ($274.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $187.17. Options: 5 managers hold calls ($30.6m notional), 6 hold puts ($11.7m).

Trends to Q4 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: 2,457Q4 25: 2,6732,673Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 20252,673

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ1 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 25Q3 25: 1,234 bought or addedQ3 25: 907 cut or sold outQ4 25: 1,305 bought or addedQ4 25: 853 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024957921
Q2 2024942856
Q3 20241,096776
Q4 20241,129787
Q1 20251,233884
Q2 20251,105921
Q3 20251,234907
Q4 20251,305853

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ1 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 0.23Q4 25 calls: $30.6mQ4 25 puts: $11.7mQ4 25P/C 0.38
Numbers
QuarterCallsPutsP/C
Q1 2025$30.6m$11.1m0.36
Q2 2025$36.9m$10.2m0.28
Q3 2025$28.7m$6.7m0.23
Q4 2025$30.6m$11.7m0.38

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +2,340,458+2.3m
BlackRock, Inc. Added +1,449,836+1.4m
Corient Private Wealth LP Added +1,379,779+1.4m
JONES FINANCIAL COMPANIES LLLP Added +1,306,280+1.3m
Focus Partners Wealth Added +1,101,815+1.1m
Caisse de depot et placement du Quebec New +1,046,001+1.0m
RAYMOND JAMES FINANCIAL INC Added +836,994+837.0k
TIAA TRUST, NATIONAL ASSOCIATION Added +617,155+617.2k
IFC Advisors LLC New +571,755+571.8k
Gotham Asset Management, LLC Added +566,649+566.6k

Biggest sellers

JPMORGAN CHASE & CO Reduced -3,295,985-3.3m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,612,916-1.6m
Sanctuary Advisors, LLC Reduced -1,141,952-1.1m
NorthCoast Asset Management LLC Reduced -1,104,282-1.1m
UBS Group AG Reduced -959,013-959.0k
TRUIST FINANCIAL CORP Reduced -713,851-713.9k
Capitolis Liquid Global Markets LLC Sold out -654,500-654.5k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -571,833-571.8k
BNP PARIBAS FINANCIAL MARKETS Reduced -535,415-535.4k
WELLINGTON MANAGEMENT GROUP LLP Sold out -370,513-370.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $13.2m69.0k shares
JANE STREET GROUP, LLC Added $10.9m56.9k shares
CITADEL ADVISORS LLC Reduced $6.0m31.5k shares
Point72 Asset Management, L.P. New $458.4k2.4k shares
Lavaca Capital LLC Unchanged $57.3k300 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $7.7m40.1k shares
CITADEL ADVISORS LLC Added $2.8m14.7k shares
Point72 Asset Management, L.P. New $630.3k3.3k shares
JANE STREET GROUP, LLC New $496.6k2.6k shares
Smith & Howard Wealth Management, LLC Reduced $92.5k500 shares
UBS Group AG Reduced $57.3k300 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 BANK OF AMERICA CORP /DE/ 1.89% of their portfolio CHARLOTTE, NC 136,148,963136.1m $26.0bn $26.0bn 1.89% Added +2.3m +2,340,458
2 JONES FINANCIAL COMPANIES LLLP 6.44% of their portfolio DES PERES, MO 55,273,06455.3m $10.6bn $10.6bn 6.44% Added +1.3m +1,306,280
3 MORGAN STANLEY 0.38% of their portfolio NEW YORK, NY 33,171,92233.2m $6.3bn $6.3bn 0.38% Reduced -41.1k -41,121
4 ENVESTNET ASSET MANAGEMENT INC 1.15% of their portfolio Berwyn, PA 20,283,04920.3m $3.9bn $3.9bn 1.15% Reduced -1.6m -1,612,916
5 UBS Group AG 0.48% of their portfolio ZURICH, V8 12,641,98712.6m $2.4bn $2.4bn 0.48% Reduced -959.0k -959,013
6 AMERIPRISE FINANCIAL INC 0.48% of their portfolio MINNEAPOLIS, MN 11,182,86411.2m $2.1bn $2.1bn 0.48% Added +70.3k +70,343
7 Align Financial, LLC 6.46% of their portfolio HERMANTOWN, MN 11,146,36711.1m $11.1m $11.1m 6.46% First filing
8 LPL Financial LLC 0.56% of their portfolio FORT MILL, SC 10,741,63110.7m $2.1bn $2.1bn 0.56% Added +158.4k +158,367
9 RAYMOND JAMES FINANCIAL INC 0.52% of their portfolio ST. PETERSBURG, FL 8,759,6808.8m $1.7bn $1.7bn 0.52% Added +837.0k +836,994
10 WELLS FARGO & COMPANY/MN 0.31% of their portfolio SAN FRANCISCO, CA 8,241,4548.2m $1.6bn $1.6bn 0.31% Added +536.5k +536,461
11 EP Wealth Advisors, LLC 7.86% of their portfolio TORRANCE, CA 7,915,9107.9m $1.5bn $1.5bn 7.86% First filing
12 Cetera Investment Advisers 1.55% of their portfolio SCHAUMBURG, IL 7,443,4317.4m $1.4bn $1.4bn 1.55% Added +106.1k +106,126
13 TIAA TRUST, NATIONAL ASSOCIATION 3.26% of their portfolio CHARLOTTE, NC 7,131,7977.1m $1.4bn $1.4bn 3.26% Added +617.2k +617,155
14 CAPTRUST FINANCIAL ADVISORS 2.32% of their portfolio RALEIGH, NC 6,385,2436.4m $1.2bn $1.2bn 2.32% Added +155.2k +155,177
15 ROYAL BANK OF CANADA 0.19% of their portfolio TORONTO, A6 5,780,9935.8m $1.1bn $1.1bn 0.19% Added +238.6k +238,613
16 D.A. DAVIDSON & CO. 6.51% of their portfolio GREAT FALLS, MT 5,564,4625.6m $1.1bn $1.1bn 6.51% Added +106.0k +106,000
17 Mill Creek Capital Advisors, LLC 20.32% of their portfolio Conshohocken, PA 5,221,0265.2m $997.2m $997.2m 20.32% Reduced -28.3k -28,348
18 Mariner, LLC 1.15% of their portfolio Overland Park, KS 5,055,3795.1m $965.6m $965.6m 1.15% Added +335.0k +335,023
19 Betterment LLC 1.81% of their portfolio NEW YORK, NY 4,973,9905.0m $950.0m $950.0m 1.81% Reduced -106.0k -106,045
20 FMR LLC 0.04% of their portfolio BOSTON, MA 4,522,8594.5m $863.8m $863.8m 0.04% Reduced -4.9k -4,902
21 Focus Partners Wealth 0.94% of their portfolio ST LOUIS, MO 4,312,6224.3m $823.6m $823.6m 0.94% Added +1.1m +1,101,815
22 PNC Financial Services Group, Inc. 0.44% of their portfolio Pittsburgh, PA 4,243,3414.2m $810.4m $810.4m 0.44% Reduced -62.3k -62,253
23 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.49% of their portfolio MILWAUKEE, WI 4,093,4004.1m $781.8m $781.8m 0.49% Added +227.3k +227,315
24 SEI INVESTMENTS CO 0.71% of their portfolio OAKS, PA 3,765,7103.8m $719.2m $719.2m 0.71% Added +109.6k +109,590
25 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 3,749,1433.7m $716.0m $716.0m 0.05% Reduced -3.3m -3,295,985
26 RWA WEALTH PARTNERS, LLC 7.66% of their portfolio BOSTON, MA 3,669,8693.7m $700.9m $700.9m 7.66% Reduced -65.2k -65,242
27 Bank of New York Mellon Corp 0.12% of their portfolio NEW YORK, NY 3,497,1333.5m $667.9m $667.9m 0.12% Reduced -17.0k -17,049
28 HighTower Advisors, LLC 0.72% of their portfolio CHICAGO, IL 3,460,9613.5m $661.0m $661.0m 0.72% Added +208.7k +208,749
29 MONETA GROUP INVESTMENT ADVISORS LLC 4.74% of their portfolio ST LOUIS, MO 3,277,7703.3m $626.0m $626.0m 4.74% Added +47.8k +47,840
30 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 2,988,7093.0m $570.8m $570.8m 0.08% Added +58.9k +58,933
31 COMMONWEALTH EQUITY SERVICES, LLC 0.69% of their portfolio WALTHAM, MA 2,712,8022.7m $518.1m $518.1m 0.69% Reduced -571.8k -571,833
32 CITIGROUP INC 0.35% of their portfolio NEW YORK, NY 2,652,8462.7m $506.7m $506.7m 0.35% Added +166.7k +166,698
33 TRUIST FINANCIAL CORP 0.67% of their portfolio CHARLOTTE, NC 2,608,8882.6m $498.3m $498.3m 0.67% Reduced -713.9k -713,851
34 Corient Private Wealth LP 0.29% of their portfolio MIAMI, FL 2,458,3212.5m $434.6m $434.6m 0.29% Added +1.4m +1,379,779
35 MISSION WEALTH MANAGEMENT, LP 9.36% of their portfolio Santa Barbara, CA 2,404,9102.4m $459.3m $459.3m 9.36% Added +1.2k +1,175
36 OSAIC HOLDINGS, INC. 0.66% of their portfolio SCOTTSDALE, AZ 2,366,6622.4m $452.2m $452.2m 0.66% Reduced -21.6k -21,558
37 CHOREO, LLC 5.19% of their portfolio ROCKFORD, IL 2,117,9422.1m $407.4m $407.4m 5.19% Added +23.8k +23,777
38 CBIZ Investment Advisory Services, LLC 15.24% of their portfolio INDEPENDENCE, OH 2,109,5042.1m $402.9m $402.9m 15.24% Added +33.2k +33,241
39 BlackRock, Inc. 0.01% of their portfolio New York, NY 1,916,5751.9m $366.0m $366.0m 0.01% Added +1.4m +1,449,836
40 Provida Pension Fund Administrator 6.28% of their portfolio LAS CONDES, SANTIAGO, F3 1,900,1181.9m $362.9m $362.9m 6.28% Reduced -212.5k -212,535
41 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.46% of their portfolio PLYMOUTH, MN 1,734,2261.7m $340.4m $340.4m 0.46% Added +512.5k +512,513
42 COLDSTREAM CAPITAL MANAGEMENT INC 4.26% of their portfolio BELLEVUE, WA 1,729,9771.7m $330.4m $330.4m 4.26% Added +38.8k +38,791
43 Modera Wealth Management, LLC 3.76% of their portfolio WESTWOOD, NJ 1,703,6881.7m $325.4m $325.4m 3.76% Added +1.3k +1,306
44 STIFEL FINANCIAL CORP 0.29% of their portfolio ST. LOUIS, MO 1,674,5381.7m $319.8m $319.8m 0.29% Added +90.9k +90,857
45 Richard Bernstein Advisors LLC 9.33% of their portfolio NEW YORK, NY 1,662,2541.7m $317.5m $317.5m 9.33% Reduced -30.2k -30,209
46 Bell Bank 13.09% of their portfolio FARGO, ND 1,604,0851.6m $306.4m $306.4m 13.09% Added +147.7k +147,681
47 Waldron Private Wealth LLC 11.94% of their portfolio BRIDGEVILLE, PA 1,581,2581.6m $302.0m $302.0m 11.94% Added +66.8k +66,794
48 Facet Wealth, Inc. 5.39% of their portfolio WEST PALM BEACH, FL 1,535,0581.5m $304.4m $304.4m 5.39% Added +49.8k +49,840
49 LINCOLN NATIONAL CORP 8.35% of their portfolio RADNOR, PA 1,494,6711.5m $285.5m $285.5m 8.35% Added +14.2k +14,202
50 Members Trust Co 9.26% of their portfolio TAMPA, FL 1,486,6821.5m $283.9m $283.9m 9.26% Reduced -12.2k -12,209
51 Baird Financial Group, Inc. 0.44% of their portfolio MILWAUKEE, WI 1,486,2601.5m $283.9m $283.9m 0.44% Added +32.7k +32,670
52 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.67% of their portfolio IRVING, TX 1,451,5341.5m $277.2m $277.2m 1.67% Added +32.8k +32,842
53 ASSETMARK, INC 0.56% of their portfolio CONCORD, CA 1,440,2531.4m $275.1m $275.1m 0.56% Reduced -7.9k -7,911
54 MML INVESTORS SERVICES, LLC 0.65% of their portfolio SPRINGFIELD, MA 1,386,6981.4m $264.8m $264.8m 0.65% Added +98.1k +98,105
55 Retirement Investment Advisors, Inc. 21.18% of their portfolio OKLAHOMA CITY, OK 1,375,8491.4m $262.8m $262.8m 21.18% Added +27.9k +27,882
56 Rockefeller Capital Management L.P. 0.46% of their portfolio NEW YORK, NY 1,347,2981.3m $257.3m $257.3m 0.46% Added +480.2k +480,241
57 Cerity Partners LLC 0.37% of their portfolio NEW YORK, NY 1,333,0211.3m $254.6m $254.6m 0.37% Added +316.2k +316,182
58 Equitable Holdings, Inc. 1.70% of their portfolio NEW YORK, NY 1,302,2801.3m $248.7m $248.7m 1.70% Added +72.1k +72,074
59 Sanctuary Advisors, LLC 1.31% of their portfolio INDIANAPOLIS, IN 1,257,1621.3m $240.1m $240.1m 1.31% Reduced -1.1m -1,141,952
60 NewEdge Advisors, LLC 0.85% of their portfolio NEW ORLEANS, LA 1,220,2721.2m $233.1m $233.1m 0.85% Added +125.5k +125,474
61 MATHER GROUP, LLC. 2.29% of their portfolio CHICAGO, IL 1,166,1661.2m $222.7m $222.7m 2.29% Reduced -4.5k -4,494
62 VANTAGEPOINT INVESTMENT ADVISERS LLC 1.72% of their portfolio WASHINGTON, DC 1,117,0891.1m $213.4m $213.4m 1.72% Reduced -85.4k -85,430
63 ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio NASHVILLE, TN 1,111,1701.1m $212.2m $212.2m 0.07% Reduced -155.9k -155,924
64 Garde Capital, Inc. 12.34% of their portfolio SEATTLE, WA 1,090,2711.1m $208.2m $208.2m 12.34% Added +11.0k +10,952
65 Private Advisor Group, LLC 0.96% of their portfolio MORRISTOWN, NJ 1,069,6071.1m $204.3m $204.3m 0.96% Added +86.2k +86,153
66 Caisse de depot et placement du Quebec 0.34% of their portfolio Montreal, A8 1,046,0011.0m $199.8m $199.8m 0.34% New
67 SCS Capital Management LLC 2.11% of their portfolio BOSTON, MA 1,042,8721.0m $199.2m $199.2m 2.11% Reduced -78.2k -78,227
68 Brookstone Capital Management 2.27% of their portfolio WHEATON, IL 1,037,1931.0m $198.1m $198.1m 2.27% Added +72.3k +72,296
69 Beacon Pointe Advisors, LLC 1.33% of their portfolio NEWPORT BEACH, CA 993,992994.0k $189.8m $189.8m 1.33% Added +176.9k +176,933
70 CIBC Private Wealth Group LLC 0.31% of their portfolio ATLANTA, GA 972,047972.0k $185.7m $185.7m 0.31% Added +19.3k +19,288
71 STEPHENS GROUP ASSET MANAGEMENT, LLC 12.39% of their portfolio LITTLE ROCK, AR 971,407971.4k $185.5m $185.5m 12.39% Added +5.1k +5,085
72 Merit Financial Group, LLC 1.49% of their portfolio ALPHARETTA, GA 969,104969.1k $185.1m $185.1m 1.49% Added +76.2k +76,196
73 Cambridge Investment Research Advisors, Inc. 0.48% of their portfolio FAIRFIELD, IA 946,946946.9k $180.9m $180.9m 0.48% Reduced -39.6k -39,619
74 Creative Planning 0.13% of their portfolio OVERLAND PARK, KS 938,262938.3k $179.2m $179.2m 0.13% Added +220.4k +220,353
75 Kestra Advisory Services, LLC 0.73% of their portfolio AUSTIN, TX 931,476931.5k $177.9m $177.9m 0.73% Added +139.2k +139,176
76 Wellspring Financial Advisors, LLC 1.10% of their portfolio CLEVELAND, OH 906,888906.9k $13.9m $13.9m 1.10% Added +3.6k +3,642
77 BLAIR WILLIAM & CO/IL 0.46% of their portfolio CHICAGO, IL 898,024898.0k $171.5m $171.5m 0.46% Added +93.7k +93,718
78 Systematic Alpha Investments, LLC 5.33% of their portfolio PRINCETON, NJ 894,868894.9k $170.9m $170.9m 5.33% Unchanged
79 CWM, LLC 0.45% of their portfolio OMAHA, NE 859,845859.8k $164.2m $164.2m 0.45% Added +303.7k +303,741
80 Thrive Wealth Management, LLC 23.35% of their portfolio AUDUBON, PA 832,005832.0k $158.9m $158.9m 23.35% Added +30.7k +30,745
81 US BANCORP \DE\ 0.19% of their portfolio MINNEAPOLIS, MN 831,903831.9k $158.9m $158.9m 0.19% Reduced -8.3k -8,271
82 Everhart Financial Group, Inc. 14.39% of their portfolio Dublin, OH 813,302813.3k $155.3m $155.3m 14.39% Added +58.5k +58,548
83 71 West Capital Partners 7.08% of their portfolio BOSTON, MA 805,934805.9k $153.9m $153.9m 7.08% First filing
84 RMG Wealth Management LLC 19.94% of their portfolio PLATTEVILLE, WI 775,119775.1k $154.0m $154.0m 19.94% Added +53.0k +52,983
85 VISTA CAPITAL PARTNERS, INC. 14.59% of their portfolio PORTLAND, OR 773,840773.8k $147.8m $147.8m 14.59% Reduced -6.5k -6,471
86 Gotham Asset Management, LLC 0.53% of their portfolio NEW YORK, NY 766,649766.6k $146.4m $146.4m 0.53% Added +566.6k +566,649
87 Saudi Central Bank 5.40% of their portfolio Riyadh, T0 756,686756.7k $144.5m $144.5m 5.40% Unchanged
88 WOODMONT INVESTMENT COUNSEL LLC 8.96% of their portfolio NASHVILLE, TN 748,472748.5k $143.0m $143.0m 8.96% Added +40.1k +40,127
89 Sequoia Financial Advisors, LLC 0.79% of their portfolio Akron, OH 741,134741.1k $141.5m $141.5m 0.79% Added +43.7k +43,742
90 Strategies Wealth Advisors, LLC 13.93% of their portfolio GRAND RAPIDS, MI 727,968728.0k $139.0m $139.0m 13.93% Added +32.3k +32,333
91 NEPC LLC 2.87% of their portfolio Boston, MA 704,920704.9k $134.6m $134.6m 2.87% Added +117.5k +117,518
92 BRANDYWINE OAK PRIVATE WEALTH LLC 11.28% of their portfolio Kennett Square, PA 703,637703.6k $134.4m $134.4m 11.28% Added +15.9k +15,858
93 Prime Capital Investment Advisors, LLC 1.62% of their portfolio OVERLAND PARK, KS 696,914696.9k $133.1m $133.1m 1.62% Reduced -24.1k -24,144
94 Clearstead Advisors, LLC 1.67% of their portfolio CLEVELAND, OH 694,349694.3k $132.6m $132.6m 1.67% Added +13.5k +13,521
95 Mountain Capital Investment Advisors Inc. 21.78% of their portfolio WESTMINSTER, CO 683,529683.5k $135.1m $135.1m 21.78% Added +25.5k +25,457
96 Focused Wealth Management, Inc 13.81% of their portfolio Newburgh, NY 680,890680.9k $130.0m $130.0m 13.81% Added +25.7k +25,671
97 Envestnet Portfolio Solutions, Inc. 0.44% of their portfolio BERWYN, PA 659,149659.1k $125.9m $125.9m 0.44% Added +25.6k +25,635
98 CARY STREET PARTNERS FINANCIAL LLC 3.06% of their portfolio RICHMOND, VA 647,557647.6k $123.7m $123.7m 3.06% Reduced -3.8k -3,791
99 Brickley Wealth Management 20.65% of their portfolio SAN MATEO, CA 641,354641.4k $122.5m $122.5m 20.65% Reduced -753 -753
100 CITIZENS FINANCIAL GROUP INC/RI 1.63% of their portfolio PROVIDENCE, RI 637,292637.3k $121.7m $121.7m 1.63% Reduced -20.3k -20,291