Vault-13

VANGUARD INDEX FDS VTI

TOTAL STK MKT · ETP · CUSIP 922908769

3,225 institutional holders +62 vs Q1 2025
602,802,643602.8m shares reported held*
$135.7bnreported value*
161 new 1,361 added 1,159 reduced 95 sold out net bought ≈ $4.6bn (+164.3m 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 ($236.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $225.24. Options: 6 managers hold calls ($435.7m notional), 13 hold puts ($668.2m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

02k4kQ3 22: 2,151Q4 22: 2,307Q1 23: 2,335Q2 23: 2,387Q3 23: 2,411Q4 23: 2,686Q1 24: 2,738Q2 24: 2,784Q3 24: 2,854Q4 24: 3,180Q1 25: 3,163Q2 25: 3,2253,225Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20222,151
Q4 20222,307
Q1 20232,335
Q2 20232,387
Q3 20232,411
Q4 20232,686
Q1 20242,738
Q2 20242,784
Q3 20242,854
Q4 20243,180
Q1 20253,163
Q2 20253,225

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ3 23: 1,156 bought or addedQ3 23: 948 cut or sold outQ4 23: 1,236 bought or addedQ4 23: 951 cut or sold outQ4 23Q1 24: 1,337 bought or addedQ1 24: 1,105 cut or sold outQ2 24: 1,263 bought or addedQ2 24: 1,078 cut or sold outQ2 24Q3 24: 1,339 bought or addedQ3 24: 1,113 cut or sold outQ4 24: 1,426 bought or addedQ4 24: 1,111 cut or sold outQ4 24Q1 25: 1,514 bought or addedQ1 25: 1,322 cut or sold outQ2 25: 1,522 bought or addedQ2 25: 1,254 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231,156948
Q4 20231,236951
Q1 20241,3371,105
Q2 20241,2631,078
Q3 20241,3391,113
Q4 20241,4261,111
Q1 20251,5141,322
Q2 20251,5221,254

Calls vs puts

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

CallsPuts
$0$200m$400m$600m$800mQ3 24 calls: $508.7mQ3 24 puts: $163.2mQ3 24P/C 0.32Q4 24 calls: $372.7mQ4 24 puts: $313.3mQ4 24P/C 0.84Q1 25 calls: $309.2mQ1 25 puts: $235.8mQ1 25P/C 0.76Q2 25 calls: $435.7mQ2 25 puts: $668.2mQ2 25P/C 1.53
Numbers
QuarterCallsPutsP/C
Q3 2024$508.7m$163.2m0.32
Q4 2024$372.7m$313.3m0.84
Q1 2025$309.2m$235.8m0.76
Q2 2025$435.7m$668.2m1.53

Biggest buyers

Gallagher Fiduciary Advisors, LLC Added +149,842,394+149.8m
VANGUARD GROUP INC Added +2,851,931+2.9m
State of New Jersey Common Pension Fund D Added +1,800,000+1.8m
ROYAL BANK OF CANADA Added +1,494,683+1.5m
CW Advisors, LLC Added +1,234,445+1.2m
Wealthfront Advisers LLC Added +1,224,122+1.2m
WealthNavi Inc. Added +895,647+895.6k
JPMORGAN CHASE & CO Added +813,240+813.2k
ASSETMARK, INC Added +769,314+769.3k
Vestmark Advisory Solutions, Inc. Added +687,281+687.3k

Biggest sellers

MERCER GLOBAL ADVISORS INC /ADV Sold out -1,384,395-1.4m
Balyasny Asset Management L.P. Sold out -1,344,381-1.3m
Ellevest, Inc. Reduced -1,085,132-1.1m
Auto-Owners Insurance Co Reduced -821,316-821.3k
HB Wealth Management, LLC Reduced -690,926-690.9k
Wealthspire Advisors, LLC Reduced -294,620-294.6k
WELLS FARGO & COMPANY/MN Reduced -207,247-207.2k
TAIYO LIFE INSURANCE CO Reduced -199,000-199.0k
University of Maryland Foundation, Inc. Sold out -194,208-194.2k
Creative Planning Reduced -188,609-188.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $234.8m772.7k shares
JANE STREET GROUP, LLC Added $122.8m404.0k shares
CITADEL ADVISORS LLC Added $73.5m241.9k shares
Walleye Trading LLC Added $3.7m12.1k shares
Squarepoint Ops LLC Unchanged $638.3k2.1k shares
DLD Asset Management, LP New $212.8k700 shares

Biggest puts

MERCER GLOBAL ADVISORS INC /ADV New $560.7m1.8m shares
CITADEL ADVISORS LLC Reduced $44.3m145.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $43.2m142.0k shares
JANE STREET GROUP, LLC Added $10.6m35.0k shares
Walleye Trading LLC Added $5.8m19.1k shares
Avestar Capital, LLC Added $1.5m4.8k shares
Weaver Capital Management LLC Unchanged $607.9k2.0k shares
Squarepoint Ops LLC Unchanged $455.9k1.5k shares
RAYMOND JAMES FINANCIAL INC Unchanged $275.0k1.1k shares
DLD Asset Management, LP New $273.6k900 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 Gallagher Fiduciary Advisors, LLC 0.07% of their portfolio ROLLING MEADOWS, IL 150,330,714150.3m $1.9m $1.9m 0.07% Added +149.8m +149,842,394
2 VANGUARD GROUP INC 0.29% of their portfolio Valley Forge, PA 58,768,33258.8m $17.9bn $17.9bn 0.29% Added +2.9m +2,851,931
3 Betterment LLC 17.02% of their portfolio NEW YORK, NY 26,303,68726.3m $8.0bn $8.0bn 17.02% Added +209.1k +209,074
4 Wealthfront Advisers LLC 13.46% of their portfolio Palo Alto, CA 17,195,56117.2m $5.2bn $5.2bn 13.46% Added +1.2m +1,224,122
5 MORGAN STANLEY 0.27% of their portfolio NEW YORK, NY 13,620,31413.6m $4.1bn $4.1bn 0.27% Added +231.1k +231,129
6 LPL Financial LLC 1.37% of their portfolio FORT MILL, SC 13,517,19813.5m $4.1bn $4.1bn 1.37% Added +520.5k +520,478
7 BANK OF AMERICA CORP /DE/ 0.33% of their portfolio CHARLOTTE, NC 13,496,40013.5m $4.1bn $4.1bn 0.33% Added +321.7k +321,716
8 WealthNavi Inc. 37.81% of their portfolio Shinagawa-ku, TOKYO, M0 12,352,85912.4m $3.8bn $3.8bn 37.81% Added +895.6k +895,647
9 NORTHERN TRUST CORP 0.40% of their portfolio CHICAGO, IL 9,634,0099.6m $2.9bn $2.9bn 0.40% Reduced -129.7k -129,658
10 Allworth Financial LP 12.16% of their portfolio FOLSOM, CA 8,339,7588.3m $2.5bn $2.5bn 12.16% Added +156.2k +156,244
11 HB Wealth Management, LLC 18.89% of their portfolio Atlanta, GA 7,767,5097.8m $2.4bn $2.4bn 18.89% Reduced -690.9k -690,926
12 Creative Planning 1.65% of their portfolio OVERLAND PARK, KS 6,351,1636.4m $1.9bn $1.9bn 1.65% Reduced -188.6k -188,609
13 Wellspring Financial Advisors, LLC 5.94% of their portfolio CLEVELAND, OH 6,180,6046.2m $59.1m $59.1m 5.94% Added +2.6k +2,640
14 Ballentine Partners, LLC 27.36% of their portfolio Waltham, MA 5,974,8166.0m $1.8bn $1.8bn 27.36% Added +118.3k +118,297
15 ENVESTNET ASSET MANAGEMENT INC 0.53% of their portfolio Berwyn, PA 5,922,0935.9m $1.8bn $1.8bn 0.53% Reduced -111.6k -111,577
16 ROYAL BANK OF CANADA 0.17% of their portfolio TORONTO, A6 5,865,4965.9m $1.8bn $1.8bn 0.17% Added +1.5m +1,494,683
17 WELLS FARGO & COMPANY/MN 0.38% of their portfolio SAN FRANCISCO, CA 5,677,5595.7m $1.7bn $1.7bn 0.38% Reduced -207.2k -207,247
18 JPMORGAN CHASE & CO 0.11% of their portfolio NEW YORK, NY 5,237,6435.2m $1.6bn $1.6bn 0.11% Added +813.2k +813,240
19 Forvis Mazars Wealth Advisors, LLC 30.34% of their portfolio Springfield, MO 4,627,4264.6m $1.4bn $1.4bn 30.34% Added +168.7k +168,669
20 UBS Group AG 0.26% of their portfolio ZURICH, V8 4,170,6674.2m $1.3bn $1.3bn 0.26% Added +8.3k +8,336
21 NISSAY ASSET MANAGEMENT CORP /JAPAN 7.02% of their portfolio Tokyo, M0 3,944,2053.9m $1.2bn $1.2bn 7.02% Unchanged
22 Sequoia Financial Advisors, LLC 7.41% of their portfolio Akron, OH 3,555,2363.6m $1.1bn $1.1bn 7.41% Added +96.6k +96,600
23 State of New Jersey Common Pension Fund D 4.14% of their portfolio TRENTON, NJ 3,514,9703.5m $1.1bn $1.1bn 4.14% Added +1.8m +1,800,000
24 RAYMOND JAMES FINANCIAL INC 0.32% of their portfolio ST. PETERSBURG, FL 3,042,1063.0m $924.6m $924.6m 0.32% Reduced -102.7k -102,724
25 Cetera Investment Advisers 1.49% of their portfolio SCHAUMBURG, IL 2,900,5292.9m $881.6m $881.6m 1.49% Added +590.4k +590,376
26 SCS Capital Management LLC 9.13% of their portfolio BOSTON, MA 2,709,4602.7m $823.8m $823.8m 9.13% Added +141.6k +141,616
27 National Mutual Insurance Federation of Agricultural Cooperatives 6.61% of their portfolio TOKYO, JAPAN, M0 2,686,8002.7m $816.6m $816.6m 6.61% Unchanged
28 PNC Financial Services Group, Inc. 0.50% of their portfolio Pittsburgh, PA 2,549,4792.5m $774.9m $774.9m 0.50% Added +141 +141
29 COMMONWEALTH EQUITY SERVICES, LLC 0.98% of their portfolio WALTHAM, MA 2,446,4552.4m $743.6m $743.6m 0.98% Reduced -114.4k -114,390
30 GOLDMAN SACHS GROUP INC 0.11% of their portfolio NEW YORK, NY 2,328,1922.3m $707.6m $707.6m 0.11% Reduced -14.9k -14,925
31 AMERIPRISE FINANCIAL INC 0.17% of their portfolio MINNEAPOLIS, MN 2,261,8162.3m $687.7m $687.7m 0.17% Reduced -180.1k -180,070
32 US BANCORP \DE\ 0.82% of their portfolio MINNEAPOLIS, MN 2,144,8302.1m $651.9m $651.9m 0.82% Reduced -72.2k -72,248
33 Bank of New York Mellon Corp 0.12% of their portfolio NEW YORK, NY 2,134,1752.1m $648.6m $648.6m 0.12% Reduced -24.7k -24,703
34 Cambridge Investment Research Advisors, Inc. 1.89% of their portfolio FAIRFIELD, IA 2,040,3622.0m $620.1m $620.1m 1.89% Added +32.4k +32,443
35 Wealthspire Advisors, LLC 3.37% of their portfolio NEW YORK, NY 1,972,3042.0m $599.4m $599.4m 3.37% Reduced -294.6k -294,620
36 BROWN ADVISORY INC 0.76% of their portfolio BALTIMORE, MD 1,895,4441.9m $576.1m $576.1m 0.76% Added +14.2k +14,223
37 Facet Wealth, Inc. 13.39% of their portfolio WEST PALM BEACH, FL 1,895,3681.9m $589.3m $589.3m 13.39% Added +112.4k +112,414
38 Mariner, LLC 0.78% of their portfolio Overland Park, KS 1,774,1821.8m $539.2m $539.2m 0.78% Added +142.4k +142,368
39 HighTower Advisors, LLC 0.65% of their portfolio CHICAGO, IL 1,717,7281.7m $522.1m $522.1m 0.65% Added +99.4k +99,382
40 Cerity Partners LLC 0.91% of their portfolio NEW YORK, NY 1,671,2021.7m $508.0m $508.0m 0.91% Added +40.3k +40,323
41 State of Tennessee, Department of Treasury 1.80% of their portfolio NASHVILLE, TN 1,654,5711.7m $502.9m $502.9m 1.80% Reduced -6.8k -6,850
42 Summit Financial, LLC 11.36% of their portfolio PARSIPPANY, NJ 1,648,4431.6m $502.5m $502.5m 11.36% Added +130.5k +130,542
43 Savant Capital, LLC 3.55% of their portfolio ROCKFORD, IL 1,627,3511.6m $494.6m $494.6m 3.55% Added +177.8k +177,780
44 Empower Advisory Group, LLC 1.46% of their portfolio Greenwood Village, CO 1,599,2211.6m $486.1m $486.1m 1.46% Added +45.8k +45,762
45 OSAIC HOLDINGS, INC. 0.80% of their portfolio SCOTTSDALE, AZ 1,483,4521.5m $450.9m $450.9m 0.80% Reduced -174.1k -174,124
46 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 30.72% of their portfolio KNOXVILLE, TN 1,460,0971.5m $443.8m $443.8m 30.72% Added +15.3k +15,310
47 Focus Partners Wealth 0.95% of their portfolio ST LOUIS, MO 1,446,5951.4m $439.7m $439.7m 0.95% Added +323.8k +323,766
48 Foster Group, Inc. 13.78% of their portfolio WEST DES MOINES, IA 1,324,1991.3m $402.5m $402.5m 13.78% Added +49.8k +49,808
49 RITHOLTZ WEALTH MANAGEMENT 8.79% of their portfolio NEW YORK, NY 1,310,0491.3m $398.2m $398.2m 8.79% Added +245.5k +245,476
50 CW Advisors, LLC 3.83% of their portfolio BOSTON, MA 1,301,3211.3m $395.5m $395.5m 3.83% Added +1.2m +1,234,445
51 Vestmark Advisory Solutions, Inc. 5.59% of their portfolio Wakefield, MA 1,273,7661.3m $387.1m $387.1m 5.59% Added +687.3k +687,281
52 Rockefeller Capital Management L.P. 0.45% of their portfolio NEW YORK, NY 1,253,1021.3m $383.2m $383.2m 0.45% Added +638.9k +638,935
53 FMR LLC 0.02% of their portfolio BOSTON, MA 1,227,5701.2m $373.1m $373.1m 0.02% Added +48.9k +48,856
54 Truepoint, Inc. 9.21% of their portfolio CINCINNATI, OH 1,217,2721.2m $370.0m $370.0m 9.21% Reduced -13.1k -13,141
55 Sageworth Trust Co 20.30% of their portfolio LANCASTER, PA 1,206,1281.2m $366.6m $366.6m 20.30% Added +28.6k +28,590
56 Prime Capital Investment Advisors, LLC 4.82% of their portfolio OVERLAND PARK, KS 1,192,9351.2m $362.6m $362.6m 4.82% Reduced -53.5k -53,513
57 WEALTHCARE CAPITAL MANAGEMENT LLC 37.99% of their portfolio RICHMOND, VA 1,182,3711.2m $359.4m $359.4m 37.99% Reduced -50.7k -50,698
58 Corient Private Wealth LP 0.48% of their portfolio MIAMI, FL 1,176,9511.2m $357.7m $357.7m 0.48% Added +44.3k +44,337
59 Private Advisor Group, LLC 1.91% of their portfolio MORRISTOWN, NJ 1,165,8631.2m $354.3m $354.3m 1.91% Added +50.7k +50,739
60 VISTA CAPITAL PARTNERS, INC. 37.08% of their portfolio PORTLAND, OR 1,114,2651.1m $338.7m $338.7m 37.08% Reduced -17.3k -17,328
61 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.55% of their portfolio PLYMOUTH, MN 1,078,6451.1m $332.3m $332.3m 0.55% Added +7.7k +7,742
62 ASSETMARK, INC 0.76% of their portfolio CONCORD, CA 1,059,3901.1m $322.0m $322.0m 0.76% Added +769.3k +769,314
63 Symetra Investment Management Co 82.96% of their portfolio Farmington, CT 1,042,1401.0m $316.7m $316.7m 82.96% Added +95.0k +95,000
64 NOVO HOLDINGS A/S 22.28% of their portfolio HELLERUP, G7 1,038,5501.0m $315.6m $315.6m 22.28% Unchanged
65 Capstone Financial Advisors, Inc. 16.60% of their portfolio DOWNERS GROVE, IL 942,276942.3k $286.4m $286.4m 16.60% Reduced -18.6k -18,628
66 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.20% of their portfolio MILWAUKEE, WI 917,699917.7k $278.9m $278.9m 0.20% Added +30.2k +30,237
67 BANK OF MONTREAL /CAN/ 0.14% of their portfolio TORONTO, A6 910,754910.8k $276.8m $276.8m 0.14% Added +13.5k +13,527
68 First Business Financial Services, Inc. 24.72% of their portfolio MADISON, WI 902,062902.1k $274.2m $274.2m 24.72% Reduced -397 -397
69 Gibson Capital, LLC 53.00% of their portfolio WEXFORD, PA 883,252883.3k $268.4m $268.4m 53.00% Reduced -4.9k -4,945
70 NorthCoast Asset Management LLC 1.14% of their portfolio STAMFORD, CT 877,260877.3k $266.9m $266.9m 1.14% Reduced -25.6k -25,605
71 OXFORD FINANCIAL GROUP, LTD. LLC 15.73% of their portfolio INDIANAPOLIS, IN 871,095871.1k $264.8m $264.8m 15.73% Added +63.9k +63,873
72 Moss Adams Wealth Advisors LLC 24.04% of their portfolio SEATTLE, WA 869,024869.0k $264.7m $264.7m 24.04% Added +44.4k +44,444
73 Elm Partners Management LLC 14.89% of their portfolio Philadelphia, PA 844,068844.1k $256.5m $256.5m 14.89% Added +438.7k +438,708
74 LINCOLN NATIONAL CORP 7.70% of their portfolio RADNOR, PA 834,850834.9k $253.7m $253.7m 7.70% Added +12.4k +12,401
75 CITIGROUP INC 0.18% of their portfolio NEW YORK, NY 832,914832.9k $253.1m $253.1m 0.18% Added +1.3k +1,316
76 TIAA TRUST, NATIONAL ASSOCIATION 0.65% of their portfolio CHARLOTTE, NC 818,117818.1k $248.7m $248.7m 0.65% Reduced -77.9k -77,897
77 Plancorp, LLC 8.55% of their portfolio SAINT LOUIS, MO 811,834811.8k $246.7m $246.7m 8.55% Added +217.1k +217,078
78 Cresset Asset Management, LLC 1.20% of their portfolio Chicago, IL 788,258788.3k $240.3m $240.3m 1.20% Reduced -61.2k -61,165
79 Baird Financial Group, Inc. 0.42% of their portfolio MILWAUKEE, WI 787,131787.1k $239.2m $239.2m 0.42% Added +28.0k +27,984
80 Provida Pension Fund Administrator 4.31% of their portfolio LAS CONDES, SANTIAGO, F3 783,348783.3k $238.2m $238.2m 4.31% Added +168.1k +168,100
81 Hardy Reed LLC 18.60% of their portfolio TUPELO, MS 763,615763.6k $232.1m $232.1m 18.60% Reduced -10.9k -10,859
82 Verus Financial Partners, Inc. 23.84% of their portfolio RICHMOND, VA 760,857760.9k $234.0m $234.0m 23.84% Added +14.7k +14,741
83 Pathstone Holdings, LLC 0.91% of their portfolio ENGLEWOOD, NJ 758,593758.6k $230.7m $230.7m 0.91% Added +81.2k +81,173
84 REBALANCE, LLC 15.37% of their portfolio PALO ALTO, CA 744,523744.5k $226.3m $226.3m 15.37% Added +85.6k +85,635
85 IEQ CAPITAL, LLC 1.37% of their portfolio Foster City, CA 736,279736.3k $223.8m $223.8m 1.37% Added +60.0k +59,999
86 Tidal Investments LLC 1.46% of their portfolio Milwaukee, WI 735,324735.3k $223.5m $223.5m 1.46% Reduced -7.7k -7,670
87 Investure, LLC 16.83% of their portfolio CHARLOTTESVILLE, VA 726,409726.4k $220.8m $220.8m 16.83% Reduced -64.0k -63,992
88 TRUIST FINANCIAL CORP 0.32% of their portfolio CHARLOTTE, NC 722,572722.6k $219.6m $219.6m 0.32% Added +37.3k +37,348
89 STEPHENS INC /AR/ 2.97% of their portfolio LITTLE ROCK, AR 711,937711.9k $216.4m $216.4m 2.97% Reduced -105.7k -105,681
90 STIFEL FINANCIAL CORP 0.21% of their portfolio ST. LOUIS, MO 697,285697.3k $211.9m $211.9m 0.21% Added +8.3k +8,256
91 CAPTRUST FINANCIAL ADVISORS 0.47% of their portfolio RALEIGH, NC 693,095693.1k $210.7m $210.7m 0.47% Added +26.8k +26,789
92 Cabot-Wellington, LLC 71.12% of their portfolio BOSTON, MA 679,335679.3k $206.5m $206.5m 71.12% Reduced -19.2k -19,212
93 Boston Standard Wealth Management, LLC 37.06% of their portfolio WINCHESTER, MA 676,828676.8k $205.7m $205.7m 37.06% Added +34.1k +34,076
94 AQR CAPITAL MANAGEMENT LLC 0.17% of their portfolio Greenwich, CT 669,343669.3k $203.4m $203.4m 0.17% Added +58.6k +58,632
95 N.E.W. Advisory Services LLC 19.18% of their portfolio DE PERE, WI 650,245650.2k $197.6m $197.6m 19.18% Reduced -103.8k -103,774
96 Trilogy Capital Inc. 9.49% of their portfolio IRVINE, CA 641,878641.9k $195.1m $195.1m 9.49% Added +36.4k +36,369
97 AGF MANAGEMENT LTD 0.88% of their portfolio TORONTO, A6 641,572641.6k $195.1m $195.1m 0.88% Added +439 +439
98 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 4.29% of their portfolio BOSTON, MA 640,269640.3k $194.7m $194.7m 4.29% Added +78.7k +78,735
99 SBI Securities Co., Ltd. 5.46% of their portfolio TOKYO, M0 624,292624.3k $189.7m $189.7m 5.46% Reduced -16.1k -16,125
100 Allen Investment Management, LLC 2.01% of their portfolio NEW YORK, NY 605,721605.7k $184.1m $184.1m 2.01% Added +68 +68