Vault-13

VANGUARD INDEX FDS VB

SMALL CP ETF · ETP · CUSIP 922908751

2,170 institutional holders +7 vs Q1 2025
161,864,390161.9m shares reported held*
$38.3bnreported value*
111 new 885 added 821 reduced 102 sold out net bought ≈ $820.1m (+2.0m 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 ($31.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $236.69. Options: 3 managers hold calls ($17.3m notional), 3 hold puts ($3.9m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,540Q4 22: 1,663Q1 23: 1,647Q2 23: 1,676Q3 23: 1,677Q4 23: 1,879Q1 24: 1,900Q2 24: 1,922Q3 24: 1,978Q4 24: 2,190Q1 25: 2,163Q2 25: 2,1702,170Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221,540
Q4 20221,663
Q1 20231,647
Q2 20231,676
Q3 20231,677
Q4 20231,879
Q1 20241,900
Q2 20241,922
Q3 20241,978
Q4 20242,190
Q1 20252,163
Q2 20252,170

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ3 23: 821 bought or addedQ3 23: 655 cut or sold outQ4 23: 896 bought or addedQ4 23: 667 cut or sold outQ4 23Q1 24: 938 bought or addedQ1 24: 755 cut or sold outQ2 24: 842 bought or addedQ2 24: 787 cut or sold outQ2 24Q3 24: 1,009 bought or addedQ3 24: 717 cut or sold outQ4 24: 1,019 bought or addedQ4 24: 752 cut or sold outQ4 24Q1 25: 1,034 bought or addedQ1 25: 908 cut or sold outQ2 25: 996 bought or addedQ2 25: 923 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023821655
Q4 2023896667
Q1 2024938755
Q2 2024842787
Q3 20241,009717
Q4 20241,019752
Q1 20251,034908
Q2 2025996923

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ3 24 calls: $24.0mQ3 24 puts: $25.4mQ3 24P/C 1.06Q4 24 calls: $17.8mQ4 24 puts: $12.2mQ4 24P/C 0.68Q1 25 calls: $17.2mQ1 25 puts: $11.7mQ1 25P/C 0.68Q2 25 calls: $17.3mQ2 25 puts: $3.9mQ2 25P/C 0.22
Numbers
QuarterCallsPutsP/C
Q3 2024$24.0m$25.4m1.06
Q4 2024$17.8m$12.2m0.68
Q1 2025$17.2m$11.7m0.68
Q2 2025$17.3m$3.9m0.22

Biggest buyers

CHURCHILL MANAGEMENT Corp New +946,160+946.2k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +540,546+540.5k
Rockefeller Capital Management L.P. Added +357,030+357.0k
JANUS HENDERSON GROUP PLC New +332,896+332.9k
FMR LLC Added +309,807+309.8k
JONES FINANCIAL COMPANIES LLLP Added +306,921+306.9k
ENVESTNET ASSET MANAGEMENT INC Added +215,390+215.4k
MERCER GLOBAL ADVISORS INC /ADV Added +187,144+187.1k
AMERIPRISE FINANCIAL INC Added +173,325+173.3k
Pathstone Holdings, LLC Added +170,996+171.0k

Biggest sellers

WIT, LLC Reduced -2,003,539-2.0m
Auto-Owners Insurance Co Reduced -663,722-663.7k
ROYAL BANK OF CANADA Reduced -351,567-351.6k
Financiere des Professionnels - Fonds d'investissement inc. Sold out -269,200-269.2k
WELLINGTON MANAGEMENT GROUP LLP Reduced -203,652-203.7k
1832 Asset Management L.P. Reduced -172,227-172.2k
Starr Indemnity & Liability Co Sold out -151,073-151.1k
SIGNATUREFD, LLC Reduced -150,822-150.8k
DAVIDSON INVESTMENT ADVISORS Reduced -138,196-138.2k
Ellevest, Inc. Reduced -125,200-125.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $10.0m42.2k shares
JANE STREET GROUP, LLC Added $5.8m24.3k shares
CITADEL ADVISORS LLC Reduced $1.5m6.5k shares

Biggest puts

CITADEL ADVISORS LLC Reduced $2.0m8.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.2m5.0k shares
JANE STREET GROUP, LLC Added $639.8k2.7k 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/ 0.46% of their portfolio CHARLOTTE, NC 24,253,00024.3m $5.7bn $5.7bn 0.46% Added +165.4k +165,416
2 MORGAN STANLEY 0.12% of their portfolio NEW YORK, NY 7,744,9227.7m $1.8bn $1.8bn 0.12% Added +88.8k +88,846
3 JONES FINANCIAL COMPANIES LLLP 1.25% of their portfolio DES PERES, MO 6,964,5297.0m $1.7bn $1.7bn 1.25% Added +306.9k +306,921
4 WELLS FARGO & COMPANY/MN 0.31% of their portfolio SAN FRANCISCO, CA 5,868,1855.9m $1.4bn $1.4bn 0.31% Added +51.3k +51,278
5 ENVESTNET ASSET MANAGEMENT INC 0.36% of their portfolio Berwyn, PA 5,176,0565.2m $1.2bn $1.2bn 0.36% Added +215.4k +215,390
6 ROYAL BANK OF CANADA 0.11% of their portfolio TORONTO, A6 4,620,9564.6m $1.1bn $1.1bn 0.11% Reduced -351.6k -351,567
7 UBS Group AG 0.20% of their portfolio ZURICH, V8 4,098,4964.1m $971.3m $971.3m 0.20% Added +35.4k +35,405
8 LPL Financial LLC 0.31% of their portfolio FORT MILL, SC 3,925,1113.9m $930.2m $930.2m 0.31% Added +98.9k +98,858
9 MERCER GLOBAL ADVISORS INC /ADV 1.50% of their portfolio DENVER, CO 2,822,0572.8m $668.8m $668.8m 1.50% Added +187.1k +187,144
10 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.44% of their portfolio MILWAUKEE, WI 2,551,4612.6m $604.6m $604.6m 0.44% Added +540.5k +540,546
11 CAPTRUST FINANCIAL ADVISORS 1.26% of their portfolio RALEIGH, NC 2,388,4562.4m $566.0m $566.0m 1.26% Added +129.4k +129,418
12 AMERIPRISE FINANCIAL INC 0.14% of their portfolio MINNEAPOLIS, MN 2,342,6932.3m $554.8m $554.8m 0.14% Added +173.3k +173,325
13 RAYMOND JAMES FINANCIAL INC 0.18% of their portfolio ST. PETERSBURG, FL 2,213,6412.2m $524.6m $524.6m 0.18% Added +64.0k +63,999
14 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio SAN FRANCISCO, CA 2,017,3992.0m $478.1m $478.1m 0.08% Added +93.5k +93,453
15 Creative Planning 0.40% of their portfolio OVERLAND PARK, KS 1,965,4402.0m $465.8m $465.8m 0.40% Reduced -33.1k -33,107
16 PNC Financial Services Group, Inc. 0.29% of their portfolio Pittsburgh, PA 1,917,0601.9m $454.3m $454.3m 0.29% Added +24.5k +24,453
17 Bank of New York Mellon Corp 0.08% of their portfolio NEW YORK, NY 1,820,5161.8m $431.4m $431.4m 0.08% Reduced -12.4k -12,424
18 GOLDMAN SACHS GROUP INC 0.07% of their portfolio NEW YORK, NY 1,711,1461.7m $405.5m $405.5m 0.07% Reduced -113.5k -113,490
19 Mariner, LLC 0.58% of their portfolio Overland Park, KS 1,709,5291.7m $405.1m $405.1m 0.58% Added +139.4k +139,444
20 Wealthfront Advisers LLC 0.90% of their portfolio Palo Alto, CA 1,467,8551.5m $347.9m $347.9m 0.90% Added +13.0k +13,004
21 WELLINGTON MANAGEMENT GROUP LLP 0.05% of their portfolio Boston, MA 1,262,1151.3m $299.1m $299.1m 0.05% Reduced -203.7k -203,652
22 CIBC Private Wealth Group LLC 0.50% of their portfolio ATLANTA, GA 1,180,4801.2m $279.8m $279.8m 0.50% Reduced -33.2k -33,180
23 FMR LLC 0.02% of their portfolio BOSTON, MA 1,151,9531.2m $273.0m $273.0m 0.02% Added +309.8k +309,807
24 STIFEL FINANCIAL CORP 0.26% of their portfolio ST. LOUIS, MO 1,114,3811.1m $264.1m $264.1m 0.26% Added +20.1k +20,098
25 COMMONWEALTH EQUITY SERVICES, LLC 0.34% of their portfolio WALTHAM, MA 1,099,1911.1m $260.5m $260.5m 0.34% Reduced -27.8k -27,800
26 MISSION WEALTH MANAGEMENT, LP 5.59% of their portfolio Santa Barbara, CA 1,081,3271.1m $256.3m $256.3m 5.59% Added +24.8k +24,781
27 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 1,063,0511.1m $251.9m $251.9m 0.02% Added +8.2k +8,195
28 CHURCHILL MANAGEMENT Corp 2.43% of their portfolio Los Angeles, CA 946,160946.2k $224.2m $224.2m 2.43% New
29 TIAA TRUST, NATIONAL ASSOCIATION 0.58% of their portfolio CHARLOTTE, NC 942,231942.2k $223.3m $223.3m 0.58% Reduced -14.2k -14,235
30 HighTower Advisors, LLC 0.26% of their portfolio CHICAGO, IL 859,492859.5k $203.7m $203.7m 0.26% Reduced -56.1k -56,096
31 Glenmede Investment Management, LP 1.03% of their portfolio PHILADELPHIA, PA 858,315858.3k $203.4m $203.4m 1.03% First filing
32 Wealthspire Advisors, LLC 1.07% of their portfolio NEW YORK, NY 801,260801.3k $189.9m $189.9m 1.07% Added +52.6k +52,608
33 Baird Financial Group, Inc. 0.32% of their portfolio MILWAUKEE, WI 775,674775.7k $183.8m $183.8m 0.32% Added +78.4k +78,416
34 OSAIC HOLDINGS, INC. 0.31% of their portfolio SCOTTSDALE, AZ 739,391739.4k $174.6m $174.6m 0.31% Added +104.9k +104,852
35 Nicholas Hoffman & Company, LLC. 4.28% of their portfolio ATLANTA, GA 699,404699.4k $165.7m $165.7m 4.28% Added +150.3k +150,303
36 BANK OF MONTREAL /CAN/ 0.08% of their portfolio TORONTO, A6 665,898665.9k $157.8m $157.8m 0.08% Reduced -10.9k -10,886
37 Cetera Investment Advisers 0.26% of their portfolio SCHAUMBURG, IL 657,402657.4k $155.8m $155.8m 0.26% Added +70.1k +70,144
38 Cerity Partners LLC 0.27% of their portfolio NEW YORK, NY 628,562628.6k $149.0m $149.0m 0.27% Added +51.1k +51,128
39 1832 Asset Management L.P. 0.26% of their portfolio TORONTO, A6 618,335618.3k $146.5m $146.5m 0.26% Reduced -172.2k -172,227
40 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 612,034612.0k $145.0m $145.0m 0.00% Added +46.2k +46,170
41 Pathstone Holdings, LLC 0.47% of their portfolio ENGLEWOOD, NJ 586,082586.1k $119.5m $119.5m 0.47% Added +171.0k +170,996
42 GRIMES & Co WEALTH MANAGEMENT, LLC 3.76% of their portfolio WESTBOROUGH, MA 583,423583.4k $138.3m $138.3m 3.76% Added +7.2k +7,233
43 Rockefeller Capital Management L.P. 0.16% of their portfolio NEW YORK, NY 567,338567.3k $134.4m $134.4m 0.16% Added +357.0k +357,030
44 NATIXIS ADVISORS, LLC 0.21% of their portfolio Boston, MA 562,385562.4k $133.3m $133.3m 0.21% Added +17.9k +17,890
45 Badgley Phelps Wealth Managers, LLC 2.94% of their portfolio SEATTLE, WA 557,930557.9k $132.6m $132.6m 2.94% Added +16.3k +16,263
46 Cullen/Frost Bankers, Inc. 1.62% of their portfolio San Antonio, TX 546,104546.1k $129.4m $129.4m 1.62% Added +60.6k +60,620
47 Clearstead Advisors, LLC 1.78% of their portfolio CLEVELAND, OH 534,238534.2k $126.6m $126.6m 1.78% Added +47.5k +47,476
48 DAVIS R M INC 2.26% of their portfolio PORTLAND, ME 515,318515.3k $122.1m $122.1m 2.26% Added +147 +147
49 MONETA GROUP INVESTMENT ADVISORS LLC 1.35% of their portfolio ST LOUIS, MO 477,756477.8k $113.2m $113.2m 1.35% Added +11.4k +11,444
50 Corient Private Wealth LP 0.15% of their portfolio MIAMI, FL 477,608477.6k $113.2m $113.2m 0.15% Added +17.0k +16,999
51 TRUIST FINANCIAL CORP 0.16% of their portfolio CHARLOTTE, NC 449,593449.6k $106.5m $106.5m 0.16% Reduced -34.3k -34,305
52 PINNACLE ASSOCIATES LTD 1.51% of their portfolio NEW YORK, NY 441,387441.4k $104.6m $104.6m 1.51% Reduced -7.2k -7,168
53 Gibraltar Capital Management, Inc. 13.08% of their portfolio TULSA, OK 440,412440.4k $67.0m $67.0m 13.08% Added +161.3k +161,268
54 Efficient Advisors, LLC 6.13% of their portfolio BEAVERTON, OR 434,073434.1k $102.9m $102.9m 6.13% Added +34.1k +34,143
55 Fusion Family Wealth, LLC 8.26% of their portfolio WOODBURY, NY 412,456412.5k $97.7m $97.7m 8.26% Added +15.8k +15,751
56 MML INVESTORS SERVICES, LLC 0.27% of their portfolio SPRINGFIELD, MA 396,389396.4k $93.9m $93.9m 0.27% Added +14.2k +14,241
57 Provida Pension Fund Administrator 1.67% of their portfolio LAS CONDES, SANTIAGO, F3 389,898389.9k $92.4m $92.4m 1.67% Reduced -58.5k -58,540
58 PEAPACK GLADSTONE FINANCIAL CORP 1.29% of their portfolio BEDMINSTER, NJ 385,547385.5k $91.4m $91.4m 1.29% Added +2.9k +2,876
59 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.15% of their portfolio PLYMOUTH, MN 384,718384.7k $93.6m $93.6m 0.15% Added +133.7k +133,693
60 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 383,669383.7k $91.2m $91.2m 0.00% Added +90.8k +90,799
61 Baker Avenue Asset Management, LP 2.57% of their portfolio SAN FRANCISCO, CA 381,556381.6k $90.4m $90.4m 2.57% Added +334 +334
62 Private Advisor Group, LLC 0.46% of their portfolio MORRISTOWN, NJ 356,700356.7k $84.5m $84.5m 0.46% Added +8.9k +8,945
63 Equitable Holdings, Inc. 0.69% of their portfolio NEW YORK, NY 353,069353.1k $83.7m $83.7m 0.69% Added +36.1k +36,120
64 INVICTUS PRIVATE WEALTH, LLC 5.66% of their portfolio Denver, CO 348,766348.8k $82.7m $82.7m 5.66% Added +18.2k +18,227
65 Heartwood Wealth Advisors LLC 8.56% of their portfolio RICHMOND, VA 345,967346.0k $82.0m $82.0m 8.56% Added +4.8k +4,805
66 Millburn Ridgefield LLC /DE/ 1.95% of their portfolio New York, NY 341,352341.4k $80.9m $80.9m 1.95% Reduced -23.7k -23,723
67 Catalyst Capital Advisors LLC 1.63% of their portfolio San Juan, PR 341,352341.4k $80.9m $80.9m 1.63% Reduced -23.7k -23,723
68 TRUSTMARK BANK TRUST DEPARTMENT 5.51% of their portfolio JACKSON, MS 336,725336.7k $79.8m $79.8m 5.51% Reduced -42.8k -42,814
69 AVANTAX ADVISORY SERVICES, INC. 0.43% of their portfolio DALLAS, TX 333,977334.0k $79.1m $79.1m 0.43% Reduced -8.1k -8,065
70 JANUS HENDERSON GROUP PLC 0.04% of their portfolio LONDON, X0 332,896332.9k $78.9m $78.9m 0.04% New
71 Cambridge Investment Research Advisors, Inc. 0.24% of their portfolio FAIRFIELD, IA 327,277327.3k $77.6m $77.6m 0.24% Reduced -54.9k -54,911
72 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 325,006325.0k $77.0m $77.0m 0.05% Reduced -10.0k -9,990
73 Karpus Management, Inc. 2.48% of their portfolio Pittsford, NY 324,978325.0k $77.0m $77.0m 2.48% Reduced -1.3k -1,260
74 ASSETMARK, INC 0.18% of their portfolio CONCORD, CA 320,964321.0k $76.1m $76.1m 0.18% Added +29.6k +29,566
75 COMERICA BANK 0.29% of their portfolio DALLAS, TX 316,725316.7k $75.1m $75.1m 0.29% Added +13.8k +13,769
76 M&T Bank Corp 0.25% of their portfolio BUFFALO, NY 311,926311.9k $73.9m $73.9m 0.25% Added +31.5k +31,461
77 FIFTH THIRD BANCORP 0.25% of their portfolio CINCINNATI, OH 308,790308.8k $73.2m $73.2m 0.25% Reduced -14.9k -14,919
78 TEACHER RETIREMENT SYSTEM OF TEXAS 0.30% of their portfolio AUSTIN, TX 299,349299.3k $70.9m $70.9m 0.30% Unchanged
79 LINCOLN NATIONAL CORP 2.10% of their portfolio RADNOR, PA 292,062292.1k $69.2m $69.2m 2.10% Added +11.4k +11,399
80 US BANCORP \DE\ 0.08% of their portfolio MINNEAPOLIS, MN 279,894279.9k $66.3m $66.3m 0.08% Reduced -1.8k -1,837
81 Chandler Asset Management, Inc. 11.30% of their portfolio SAN DIEGO, CA 268,285268.3k $63.6m $63.6m 11.30% Reduced -19.3k -19,330
82 PARK AVENUE SECURITIES LLC 0.58% of their portfolio NEW YORK, NY 267,629267.6k $63.4m $63.4m 0.58% Added +14.4k +14,355
83 VISTA CAPITAL PARTNERS, INC. 6.89% of their portfolio PORTLAND, OR 265,630265.6k $62.9m $62.9m 6.89% Reduced -7.1k -7,082
84 Center for Financial Planning, Inc. 7.13% of their portfolio SOUTHFIED, MI 262,478262.5k $62.2m $62.2m 7.13% Added +107.3k +107,311
85 Smithfield Trust Co 2.89% of their portfolio PITTSBURGH, PA 258,797258.8k $61.3m $61.3m 2.89% Added +7.0k +7,005
86 PITTENGER & ANDERSON INC 2.18% of their portfolio LINCOLN, NE 251,260251.3k $59.5m $59.5m 2.18% Reduced -127 -127
87 Auto-Owners Insurance Co 1.32% of their portfolio LANSING, MI 249,028249.0k $59.0m $59.0m 1.32% Reduced -663.7k -663,722
88 BESSEMER GROUP INC 0.09% of their portfolio WOODBRIDGE, NJ 246,587246.6k $58.4m $58.4m 0.09% Added +36.5k +36,490
89 WIT, LLC 1.44% of their portfolio DISTRICT OF COLUMBIA, DC 244,855244.9k $58.0m $58.0m 1.44% Reduced -2.0m -2,003,539
90 Betterment LLC 0.12% of their portfolio NEW YORK, NY 244,160244.2k $57.9m $57.9m 0.12% Added +84.0k +83,985
91 Pandi, LLC 7.38% of their portfolio KANSAS CITY, MO 232,630232.6k $55.1m $55.1m 7.38% Unchanged
92 Employees Retirement System of Texas 0.44% of their portfolio AUSTIN, TX 226,425226.4k $53.7m $53.7m 0.44% Unchanged
93 First Command Advisory Services, Inc. 0.45% of their portfolio FORT WORTH, TX 219,271219.3k $52.0m $52.0m 0.45% Added +7.2k +7,205
94 Thrivent Financial for Lutherans 0.11% of their portfolio Minneapolis, MN 218,533218.5k $51.8m $51.8m 0.11% Added +45.5k +45,522
95 Merit Financial Group, LLC 0.56% of their portfolio ALPHARETTA, GA 213,314213.3k $50.6m $50.6m 0.56% Added +35.4k +35,428
96 COLDSTREAM CAPITAL MANAGEMENT INC 0.81% of their portfolio BELLEVUE, WA 208,643208.6k $49.5m $49.5m 0.81% Added +125.1k +125,121
97 COUNTRY TRUST BANK 1.11% of their portfolio Bloomington, IL 208,064208.1k $49.3m $49.3m 1.11% Added +35.5k +35,494
98 CX Institutional 1.71% of their portfolio AUBURN, IN 207,192207.2k $49.1m $49.1m 1.71% Reduced -19.0k -19,022
99 Kestra Advisory Services, LLC 0.24% of their portfolio AUSTIN, TX 206,386206.4k $48.9m $48.9m 0.24% Added +5.4k +5,421
100 Ellenbecker Investment Group 7.67% of their portfolio WAUKESHA, WI 200,427200.4k $47.5m $47.5m 7.67% Reduced -4.1k -4,114