Vault-13

VANGUARD INDEX FDS VTI

TOTAL STK MKT · ETP · CUSIP 922908769

3,256 institutional holders +31 vs Q2 2025
510,488,092510.5m shares reported held*
$165.3bnreported value*
135 new 1,400 added 1,211 reduced 81 sold out net bought ≈ $3.9bn (-138.1m 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 ($226.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $323.76. Options: 8 managers hold calls ($477.4m notional), 10 hold puts ($200.4m).

Trends to Q3 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: 3,225Q3 25: 3,2563,256Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 20253,256

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ4 23: 1,236 bought or addedQ4 23: 951 cut or sold outQ1 24: 1,337 bought or addedQ1 24: 1,105 cut or sold outQ1 24Q2 24: 1,263 bought or addedQ2 24: 1,078 cut or sold outQ3 24: 1,339 bought or addedQ3 24: 1,113 cut or sold outQ3 24Q4 24: 1,426 bought or addedQ4 24: 1,111 cut or sold outQ1 25: 1,514 bought or addedQ1 25: 1,322 cut or sold outQ1 25Q2 25: 1,522 bought or addedQ2 25: 1,254 cut or sold outQ3 25: 1,535 bought or addedQ3 25: 1,292 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
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
Q3 20251,5351,292

Calls vs puts

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

CallsPuts
$0$200m$400m$600m$800mQ4 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 1.53Q3 25 calls: $477.4mQ3 25 puts: $200.4mQ3 25P/C 0.42
Numbers
QuarterCallsPutsP/C
Q4 2024$372.7m$313.3m0.84
Q1 2025$309.2m$235.8m0.76
Q2 2025$435.7m$668.2m1.53
Q3 2025$477.4m$200.4m0.42

Biggest buyers

JPMORGAN CHASE & CO Added +4,827,421+4.8m
MERCER GLOBAL ADVISORS INC /ADV New +1,997,096+2.0m
VANGUARD GROUP INC Added +1,561,779+1.6m
OSAIC HOLDINGS, INC. Added +1,256,924+1.3m
Provida Pension Fund Administrator Added +1,186,140+1.2m
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Added +1,054,550+1.1m
HB Wealth Management, LLC Added +784,397+784.4k
Savant Capital, LLC Added +716,582+716.6k
Norinchukin Bank, The New +687,500+687.5k
Wealthfront Advisers LLC Added +666,450+666.5k

Biggest sellers

Gallagher Fiduciary Advisors, LLC Reduced -150,320,330-150.3m
State of New Jersey Common Pension Fund D Sold out -3,514,970-3.5m
ROYAL BANK OF CANADA Reduced -2,906,130-2.9m
Vestmark Advisory Solutions, Inc. Reduced -600,252-600.3k
Betterment LLC Reduced -521,287-521.3k
STUART INVESTMENT ADVISORS, INC. Sold out -327,890-327.9k
Rockefeller Capital Management L.P. Reduced -297,525-297.5k
NISSAY ASSET MANAGEMENT CORP /JAPAN Reduced -281,200-281.2k
University of Massachusetts Foundation, Inc. Sold out -242,779-242.8k
RAYMOND JAMES FINANCIAL INC Reduced -192,398-192.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $248.1m755.9k shares
JANE STREET GROUP, LLC Reduced $118.6m361.5k shares
CITADEL ADVISORS LLC Reduced $73.0m222.3k shares
WOLVERINE TRADING, LLC New $27.5m84.1k shares
OLD MISSION CAPITAL LLC New $6.0m140.5k shares
Walleye Trading LLC Reduced $3.4m10.4k shares
Squarepoint Ops LLC Unchanged $689.2k2.1k shares
Omega Financial Group, LLC New $131.3k400 shares

Biggest puts

CITADEL ADVISORS LLC Added $95.2m290.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $37.9m115.5k shares
BANK OF AMERICA CORP /DE/ Added $32.8m100.0k shares
JANE STREET GROUP, LLC Added $16.5m50.4k shares
WOLVERINE TRADING, LLC New $11.2m34.2k shares
Walleye Trading LLC Reduced $4.0m12.1k shares
FRANKLIN RESOURCES INC New $1.6m4.9k shares
Weaver Capital Management LLC Unchanged $656.3k2.0k shares
Squarepoint Ops LLC Unchanged $492.3k1.5k shares
OLD MISSION CAPITAL LLC New $69.7k19.3k 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 VANGUARD GROUP INC 0.30% of their portfolio Valley Forge, PA 60,330,11160.3m $19.8bn $19.8bn 0.30% Added +1.6m +1,561,779
2 Rakuten Investment Management, Inc. 55.28% of their portfolio TOKYO, M0 47,479,73847.5m $15.5bn $15.5bn 55.28% First filing
3 Betterment LLC 16.72% of their portfolio NEW YORK, NY 25,782,40025.8m $8.5bn $8.5bn 16.72% Reduced -521.3k -521,287
4 Wealthfront Advisers LLC 13.76% of their portfolio Palo Alto, CA 17,862,01117.9m $5.9bn $5.9bn 13.76% Added +666.5k +666,450
5 BANK OF AMERICA CORP /DE/ 0.34% of their portfolio CHARLOTTE, NC 13,942,11213.9m $4.6bn $4.6bn 0.34% Added +445.7k +445,712
6 MORGAN STANLEY 0.27% of their portfolio NEW YORK, NY 13,805,60013.8m $4.5bn $4.5bn 0.27% Added +185.3k +185,286
7 LPL Financial LLC 1.32% of their portfolio FORT MILL, SC 13,801,84113.8m $4.5bn $4.5bn 1.32% Added +284.6k +284,643
8 WealthNavi Inc. 37.60% of their portfolio Shinagawa-ku, TOKYO, M0 12,362,76212.4m $4.1bn $4.1bn 37.60% Added +9.9k +9,903
9 JPMORGAN CHASE & CO 0.11% of their portfolio NEW YORK, NY 10,065,06410.1m $3.3bn $3.3bn 0.11% Added +4.8m +4,827,421
10 NORTHERN TRUST CORP 0.40% of their portfolio CHICAGO, IL 9,528,4939.5m $3.1bn $3.1bn 0.40% Reduced -105.5k -105,516
11 HB Wealth Management, LLC 18.21% of their portfolio Atlanta, GA 8,551,9068.6m $2.7bn $2.7bn 18.21% Added +784.4k +784,397
12 Allworth Financial LP 12.29% of their portfolio FOLSOM, CA 8,463,5298.5m $2.8bn $2.8bn 12.29% Added +123.8k +123,771
13 Creative Planning 1.56% of their portfolio OVERLAND PARK, KS 6,204,2696.2m $2.0bn $2.0bn 1.56% Reduced -146.9k -146,894
14 Wellspring Financial Advisors, LLC 5.60% of their portfolio CLEVELAND, OH 6,173,3446.2m $61.0m $61.0m 5.60% Reduced -7.3k -7,260
15 Ballentine Partners, LLC 27.71% of their portfolio Waltham, MA 6,081,7246.1m $2.0bn $2.0bn 27.71% Added +106.9k +106,908
16 ENVESTNET ASSET MANAGEMENT INC 0.55% of their portfolio Berwyn, PA 5,799,9865.8m $1.9bn $1.9bn 0.55% Reduced -122.1k -122,107
17 WELLS FARGO & COMPANY/MN 0.38% of their portfolio SAN FRANCISCO, CA 5,642,3935.6m $1.9bn $1.9bn 0.38% Reduced -35.2k -35,166
18 Forvis Mazars Wealth Advisors, LLC 30.70% of their portfolio Springfield, MO 4,710,3634.7m $1.5bn $1.5bn 30.70% Added +82.9k +82,937
19 UBS Group AG 0.26% of their portfolio ZURICH, V8 4,089,9464.1m $1.3bn $1.3bn 0.26% Reduced -80.7k -80,721
20 NISSAY ASSET MANAGEMENT CORP /JAPAN 6.64% of their portfolio Tokyo, M0 3,663,0053.7m $1.2bn $1.2bn 6.64% Reduced -281.2k -281,200
21 Sequoia Financial Advisors, LLC 7.30% of their portfolio Akron, OH 3,647,3443.6m $1.2bn $1.2bn 7.30% Added +92.1k +92,108
22 Cetera Investment Advisers 1.23% of their portfolio SCHAUMBURG, IL 3,228,9733.2m $1.1bn $1.1bn 1.23% Added +328.4k +328,444
23 ROYAL BANK OF CANADA 0.17% of their portfolio TORONTO, A6 2,959,3663.0m $971.2m $971.2m 0.17% Reduced -2.9m -2,906,130
24 RAYMOND JAMES FINANCIAL INC 0.30% of their portfolio ST. PETERSBURG, FL 2,849,7082.8m $935.2m $935.2m 0.30% Reduced -192.4k -192,398
25 OSAIC HOLDINGS, INC. 1.25% of their portfolio SCOTTSDALE, AZ 2,740,3762.7m $889.9m $889.9m 1.25% Added +1.3m +1,256,924
26 National Mutual Insurance Federation of Agricultural Cooperatives 6.69% of their portfolio TOKYO, JAPAN, M0 2,686,8002.7m $881.7m $881.7m 6.69% Unchanged
27 SCS Capital Management LLC 9.18% of their portfolio BOSTON, MA 2,565,1782.6m $842.1m $842.1m 9.18% Reduced -144.3k -144,282
28 COMMONWEALTH EQUITY SERVICES, LLC 1.08% of their portfolio WALTHAM, MA 2,551,3232.6m $837.3m $837.3m 1.08% Added +104.9k +104,868
29 PNC Financial Services Group, Inc. 0.49% of their portfolio Pittsburgh, PA 2,459,0082.5m $807.0m $807.0m 0.49% Reduced -90.5k -90,471
30 GOLDMAN SACHS GROUP INC 0.11% of their portfolio NEW YORK, NY 2,382,8982.4m $782.0m $782.0m 0.11% Added +54.7k +54,706
31 Savant Capital, LLC 4.67% of their portfolio ROCKFORD, IL 2,343,9332.3m $769.2m $769.2m 4.67% Added +716.6k +716,582
32 AMERIPRISE FINANCIAL INC 0.17% of their portfolio MINNEAPOLIS, MN 2,237,8902.2m $734.6m $734.6m 0.17% Reduced -23.9k -23,926
33 HighTower Advisors, LLC 0.81% of their portfolio CHICAGO, IL 2,182,5922.2m $716.3m $716.3m 0.81% Added +464.9k +464,864
34 Bank of New York Mellon Corp 0.12% of their portfolio NEW YORK, NY 2,110,7802.1m $692.7m $692.7m 0.12% Reduced -23.4k -23,395
35 Cambridge Investment Research Advisors, Inc. 1.90% of their portfolio FAIRFIELD, IA 2,106,8712.1m $691.4m $691.4m 1.90% Added +66.5k +66,509
36 US BANCORP \DE\ 0.82% of their portfolio MINNEAPOLIS, MN 2,098,7772.1m $688.8m $688.8m 0.82% Reduced -46.1k -46,053
37 Wealthspire Advisors, LLC 3.45% of their portfolio NEW YORK, NY 2,009,4442.0m $659.4m $659.4m 3.45% Added +37.1k +37,140
38 MERCER GLOBAL ADVISORS INC /ADV 1.09% of their portfolio DENVER, CO 1,997,0962.0m $655.2m $655.2m 1.09% New
39 Facet Wealth, Inc. 13.42% of their portfolio WEST PALM BEACH, FL 1,975,8282.0m $648.4m $648.4m 13.42% Added +80.5k +80,460
40 Provida Pension Fund Administrator 11.26% of their portfolio LAS CONDES, SANTIAGO, F3 1,969,4882.0m $646.4m $646.4m 11.26% Added +1.2m +1,186,140
41 BROWN ADVISORY INC 0.81% of their portfolio BALTIMORE, MD 1,889,1941.9m $620.0m $620.0m 0.81% Reduced -6.2k -6,250
42 Mariner, LLC 0.76% of their portfolio Overland Park, KS 1,797,8721.8m $589.9m $589.9m 0.76% Added +23.7k +23,690
43 Focus Partners Wealth 0.94% of their portfolio ST LOUIS, MO 1,764,3291.8m $581.8m $581.8m 0.94% Added +317.7k +317,734
44 Corient Private Wealth LP 0.89% of their portfolio MIAMI, FL 1,729,1641.7m $566.5m $566.5m 0.89% Added +552.2k +552,213
45 Cerity Partners LLC 0.91% of their portfolio NEW YORK, NY 1,710,8731.7m $561.4m $561.4m 0.91% Added +39.7k +39,671
46 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 10.20% of their portfolio BOSTON, MA 1,694,8191.7m $556.2m $556.2m 10.20% Added +1.1m +1,054,550
47 Summit Financial, LLC 8.23% of their portfolio PARSIPPANY, NJ 1,642,8671.6m $539.1m $539.1m 8.23% Reduced -5.6k -5,576
48 State of Tennessee, Department of Treasury 1.72% of their portfolio NASHVILLE, TN 1,572,4491.6m $516.0m $516.0m 1.72% Reduced -82.1k -82,122
49 Empower Advisory Group, LLC 1.42% of their portfolio Greenwood Village, CO 1,561,8201.6m $512.5m $512.5m 1.42% Reduced -37.4k -37,401
50 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 31.31% of their portfolio KNOXVILLE, TN 1,462,7591.5m $480.0m $480.0m 31.31% Added +2.7k +2,662
51 RITHOLTZ WEALTH MANAGEMENT 8.77% of their portfolio NEW YORK, NY 1,374,3521.4m $451.0m $451.0m 8.77% Added +64.3k +64,303
52 Foster Group, Inc. 13.70% of their portfolio WEST DES MOINES, IA 1,330,0481.3m $436.5m $436.5m 13.70% Added +5.8k +5,849
53 FMR LLC 0.02% of their portfolio BOSTON, MA 1,295,7181.3m $425.2m $425.2m 0.02% Added +68.1k +68,148
54 Truepoint, Inc. 9.23% of their portfolio CINCINNATI, OH 1,208,8811.2m $396.7m $396.7m 9.23% Reduced -8.4k -8,391
55 Prime Capital Investment Advisors, LLC 4.86% of their portfolio OVERLAND PARK, KS 1,180,5301.2m $387.4m $387.4m 4.86% Reduced -12.4k -12,405
56 Sageworth Trust Co 17.85% of their portfolio LANCASTER, PA 1,167,2881.2m $383.1m $383.1m 17.85% Reduced -38.8k -38,840
57 Private Advisor Group, LLC 1.87% of their portfolio MORRISTOWN, NJ 1,160,2401.2m $380.8m $380.8m 1.87% Reduced -5.6k -5,623
58 Symetra Investment Management Co 83.23% of their portfolio Farmington, CT 1,154,0951.2m $378.7m $378.7m 83.23% Added +112.0k +111,955
59 WEALTHCARE CAPITAL MANAGEMENT LLC 37.94% of their portfolio RICHMOND, VA 1,138,7621.1m $373.7m $373.7m 37.94% Reduced -43.6k -43,609
60 VISTA CAPITAL PARTNERS, INC. 37.08% of their portfolio PORTLAND, OR 1,110,7821.1m $364.5m $364.5m 37.08% Reduced -3.5k -3,483
61 IEQ CAPITAL, LLC 1.08% of their portfolio Foster City, CA 1,088,4291.1m $357.2m $357.2m 1.08% Added +352.1k +352,150
62 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.54% of their portfolio PLYMOUTH, MN 1,078,2331.1m $355.4m $355.4m 0.54% Reduced -412 -412
63 Moss Adams Wealth Advisors LLC 26.93% of their portfolio SEATTLE, WA 1,050,3231.1m $345.5m $345.5m 26.93% Added +181.3k +181,299
64 NOVO HOLDINGS A/S 21.97% of their portfolio HELLERUP, G7 1,038,5501.0m $340.8m $340.8m 21.97% Unchanged
65 ASSETMARK, INC 0.72% of their portfolio CONCORD, CA 1,029,4871.0m $337.8m $337.8m 0.72% Reduced -29.9k -29,903
66 Rockefeller Capital Management L.P. 0.61% of their portfolio NEW YORK, NY 955,577955.6k $313.6m $313.6m 0.61% Reduced -297.5k -297,525
67 Capstone Financial Advisors, Inc. 16.81% of their portfolio DOWNERS GROVE, IL 944,996945.0k $310.1m $310.1m 16.81% Added +2.7k +2,720
68 Elm Partners Management LLC 15.51% of their portfolio Philadelphia, PA 941,228941.2k $308.9m $308.9m 15.51% Added +97.2k +97,160
69 Plancorp, LLC 9.62% of their portfolio SAINT LOUIS, MO 934,354934.4k $306.6m $306.6m 9.62% Added +122.5k +122,520
70 BANK OF MONTREAL /CAN/ 0.13% of their portfolio TORONTO, A6 933,098933.1k $306.2m $306.2m 0.13% Added +22.3k +22,344
71 AQR CAPITAL MANAGEMENT LLC 0.19% of their portfolio Greenwich, CT 898,646898.6k $294.9m $294.9m 0.19% Added +229.3k +229,303
72 NorthCoast Asset Management LLC 1.14% of their portfolio STAMFORD, CT 886,410886.4k $291.1m $291.1m 1.14% Added +9.2k +9,150
73 Caprock Group, LLC 6.89% of their portfolio BOISE, ID 879,552879.6k $279.9m $279.9m 6.89% First filing
74 Gibson Capital, LLC 52.94% of their portfolio WEXFORD, PA 874,626874.6k $287.0m $287.0m 52.94% Reduced -8.6k -8,626
75 OXFORD FINANCIAL GROUP, LTD. LLC 15.94% of their portfolio INDIANAPOLIS, IN 858,659858.7k $281.8m $281.8m 15.94% Reduced -12.4k -12,436
76 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.19% of their portfolio MILWAUKEE, WI 858,114858.1k $281.6m $281.6m 0.19% Reduced -59.6k -59,585
77 LINCOLN NATIONAL CORP 7.69% of their portfolio RADNOR, PA 821,992822.0k $269.8m $269.8m 7.69% Reduced -12.9k -12,858
78 CITIGROUP INC 0.18% of their portfolio NEW YORK, NY 811,996812.0k $266.5m $266.5m 0.18% Reduced -20.9k -20,918
79 Baird Financial Group, Inc. 0.43% of their portfolio MILWAUKEE, WI 808,239808.2k $265.2m $265.2m 0.43% Added +21.1k +21,108
80 Cresset Asset Management, LLC 1.17% of their portfolio Chicago, IL 807,319807.3k $265.7m $265.7m 1.17% Added +19.1k +19,061
81 First Business Financial Services, Inc. 24.30% of their portfolio MADISON, WI 807,129807.1k $264.9m $264.9m 24.30% Reduced -94.9k -94,933
82 TIAA TRUST, NATIONAL ASSOCIATION 0.63% of their portfolio CHARLOTTE, NC 795,814795.8k $261.2m $261.2m 0.63% Reduced -22.3k -22,303
83 Pathstone Holdings, LLC 0.98% of their portfolio ENGLEWOOD, NJ 783,752783.8k $257.4m $257.4m 0.98% Added +25.2k +25,159
84 Tidal Investments LLC 1.07% of their portfolio Milwaukee, WI 764,090764.1k $250.8m $250.8m 1.07% Added +28.8k +28,766
85 Verus Financial Partners, Inc. 24.12% of their portfolio RICHMOND, VA 764,057764.1k $250.7m $250.7m 24.12% Added +3.2k +3,200
86 Hardy Reed LLC 18.37% of their portfolio TUPELO, MS 760,075760.1k $249.4m $249.4m 18.37% Reduced -3.5k -3,540
87 REBALANCE, LLC 14.90% of their portfolio PALO ALTO, CA 752,559752.6k $247.0m $247.0m 14.90% Added +8.0k +8,036
88 TRUIST FINANCIAL CORP 0.33% of their portfolio CHARLOTTE, NC 749,536749.5k $246.0m $246.0m 0.33% Added +27.0k +26,964
89 STIFEL FINANCIAL CORP 0.22% of their portfolio ST. LOUIS, MO 723,061723.1k $237.3m $237.3m 0.22% Added +25.8k +25,776
90 STEPHENS INC /AR/ 2.93% of their portfolio LITTLE ROCK, AR 699,470699.5k $229.5m $229.5m 2.93% Reduced -12.5k -12,467
91 CAPTRUST FINANCIAL ADVISORS 0.47% of their portfolio RALEIGH, NC 699,064699.1k $229.4m $229.4m 0.47% Added +6.0k +5,969
92 Investure, LLC 13.99% of their portfolio CHARLOTTESVILLE, VA 689,272689.3k $226.2m $226.2m 13.99% Reduced -37.1k -37,137
93 Norinchukin Bank, The 3.03% of their portfolio TOKYO, M0 687,500687.5k $225.6m $225.6m 3.03% New
94 Orion Porfolio Solutions, LLC 1.74% of their portfolio OMAHA, NE 682,064682.1k $223.8m $223.8m 1.74% Added +188.6k +188,569
95 Cabot-Wellington, LLC 71.52% of their portfolio BOSTON, MA 673,701673.7k $221.1m $221.1m 71.52% Reduced -5.6k -5,634
96 Vestmark Advisory Solutions, Inc. 4.21% of their portfolio Wakefield, MA 673,514673.5k $221.0m $221.0m 4.21% Reduced -600.3k -600,252
97 N.E.W. Advisory Services LLC 19.66% of their portfolio DE PERE, WI 670,519670.5k $220.0m $220.0m 19.66% Added +20.3k +20,274
98 Boston Standard Wealth Management, LLC 36.79% of their portfolio WINCHESTER, MA 666,665666.7k $218.8m $218.8m 36.79% Reduced -10.2k -10,163
99 Quantinno Capital Management LP 0.59% of their portfolio NEW YORK, NY 658,237658.2k $216.0m $216.0m 0.59% Added +361.1k +361,070
100 Focus Partners Advisor Solutions, LLC 2.48% of their portfolio SAINT LOUIS, MO 657,016657.0k $218.5m $218.5m 2.48% Added +56.7k +56,687