Vanguard Small-Cap Growth

VBK • ARCA

Vanguard Small-Cap Growth is an exchange-traded fund on ARCA. As of Q3 2025, 1,093 institutional investors hold shares in this ETF, with total holdings valued at $11.8B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $3.0B.

Overview

Overview of institutional ownership in VBK as of Q3 2025

All Institutions

Institutions: 1,093
Value Held: $11.8B
Shares Held: 39.6M
Avg Position: $10.8M
Median Position: $747.1K

Hedge Funds

Hedge Funds: 10
Value Held: $227.2M
Shares Held: 763.3K
Avg Position: $22.7M
Median Position: $1.5M

Biggest Investors

Institutions with the largest positions in VBK as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$3.0B 0.22% of portfolio	10.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$574.9M 0.03% of portfolio	1.9M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	Hyun Michael Kim CEO	$461.5M 0.99% of portfolio	1.6M shares	Q3 2013 Held for 12y 2m	$46.5B
S SEI INVESTMENTS CO Institution	-	$282.7M 0.30% of portfolio	949.9K shares	Q4 2014 Held for 10y 11m	$93.0B
L LPL Financial LLC Institution	-	$267.8M 0.08% of portfolio	899.8K shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
C CI Private Wealth, LLC RIA/Wealth	Kurt Macalpine CEO	$266.1M 0.42% of portfolio	894.2K shares	Q4 2022 Held for 2y 11m	$63.4B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$259.7M 0.05% of portfolio	872.6K shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
UBS Group AG Institution	Sergio P. Ermotti CEO	$228.7M 0.04% of portfolio	768.4K shares	Q4 2014 Held for 10y 11m	$511.54B
PNC FINANCIAL SERVICES GROUP, INC. Institution	William S. Demchak CEO	$203.6M 0.12% of portfolio	683.9K shares	≤ Q2 2013 Held for 12y 5m+	$164.83B
C Cohen Klingenstein, LLC Hedge Fund•Sector	Thomas Davis Klingenstein Managing Partner	$199.5M 6.25% of portfolio	670.4K shares	Q1 2016 Held for 9y 8m	$3.2B

Net Capital Flow

Institutional buying and selling activity for VBK in Q3 2025

Traded: +$155.7M
Buyers: 483
Sellers: 412
Total Bought: +$405.8M
Total Sold: −$250.2M
Avg Position: $10.3M

Biggest Buyers

Institution	Net Bought	Current Position
C CI Private Wealth, LLC RIA/Wealth	+$40.1M +134.9K shares	$266.1M 894.2K shares
Cetera Investment Advisers RIA/Wealth	+$28.0M +94.0K shares	$137.2M 461.1K shares
Beacon Pointe Advisors, LLC RIA/Wealth	+$26.1M +87.7K shares	$48.9M 164.4K shares
STEPHENS GROUP ASSET MANAGEMENT, LLC RIA/Wealth	+$19.3M +65.0K shares	$34.8M 116.9K shares
Wright Fund Managment, LLC Long Only Manager	+$15.9M +53.4K shares	$15.9M 53.4K shares
MORGAN STANLEY RIA/Wealth	+$14.8M +49.8K shares	$574.9M 1.9M shares
Vawter Financial, Ltd. RIA/Wealth	+$14.7M +49.4K shares	$15.6M 52.5K shares
A Advisor Group Holdings, Inc. Institution	+$12.6M +42.7K shares	$105.9M 357.6K shares
BANK OF AMERICA CORP /DE/ Institution	+$10.8M +36.4K shares	$3.0B 10.0M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$10.1M +34.0K shares	$12.0M 40.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
J JONES FINANCIAL COMPANIES LLLP Institution	−$37.7M −126.5K shares	$167.7M 562.4K shares
Pensionmark Financial Group, LLC Pension/Endowment	−$15.6M −52.5K shares	$1.6M 5.5K shares
UBS Group AG Institution	−$14.7M −49.3K shares	$228.7M 768.4K shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	−$13.5M −45.5K shares	$67.0M 225.2K shares
W WESBANCO BANK INC Institution	−$10.7M −36.0K shares	$3.9M 13.3K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$8.9M −29.9K shares	$2.4M 7.9K shares
SRS Capital Advisors, Inc. RIA/Wealth	−$8.9M −28.7K shares	Sold Off 0 shares
T TIAA TRUST, NATIONAL ASSOCIATION Institution	−$7.3M −24.4K shares	$139.5M 468.8K shares
A Adventist Health System/ West Institution	−$5.2M −17.6K shares	$11.4M 38.1K shares
Larson Financial Group LLC RIA/Wealth	−$5.2M −17.4K shares	$10.1M 34.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited VBK in Q3 2025

New Positions: 39
New Value: $10.5M
Exited Positions: 49
Exited Value: $37.4M

New Positions

Institution	Position Value
Sonoma Allocations LLC RIA/Wealth	$2.2M 7.3K shares
Cornerstone Planning Group LLC RIA/Wealth	$1.3M 17.2K shares
Maridea Wealth Management LLC RIA/Wealth	$639.5K 2.1K shares
Discipline Wealth Solutions, LLC RIA/Wealth	$595.9K 2.0K shares
Enclave Advisors LLC RIA/Wealth	$485.7K 1.6K shares
Gilbert & Cook, Inc. RIA/Wealth	$370.7K 1.2K shares
F FIRST CITIZENS BANK & TRUST CO Institution	$326.2K 1.1K shares
Alteri Wealth LLC RIA/Wealth	$316.1K 1.1K shares
Sepio Capital, LLC RIA/Wealth	$278.9K 937.0 shares
T TWIN FOCUS CAPITAL PARTNERS, LLC Family Office	$261.9K 880.0 shares

Exited Positions

Institution	Previous Position
SRS Capital Advisors, Inc. RIA/Wealth	$8.9M 28.7K shares
J JANE STREET GROUP, LLC Institution	$4.7M 17.1K shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	$4.0M 14.4K shares
H HRT FINANCIAL LLC Institution	$3.6M 13.0K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	$3.2M 11.4K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$2.5M 9.1K shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$2.4M 8.6K shares
Vestmark Advisory Solutions, Inc. Fund of Funds	$2.0M 7.2K shares
B Brendel Financial Advisors LLC RIA/Wealth	$574.1K 2.1K shares
Venturi Wealth Management, LLC RIA/Wealth	$395.7K 1.4K shares

Options Activity

Institutions with the largest Call and Put options positions in VBK as of Q3 2025

Call Positions: 5
Call Value: $13.1M
Put Positions: 4
Put Value: $7.7M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$6.0M 203.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.7M 125.0 contracts
J JANE STREET GROUP, LLC Institution	$2.3M 76.0 contracts
C Cubist Systematic Strategies, LLC Institution	$654.8K 22.0 contracts
B Belvedere Trading LLC Institution	$446.4K 15.0 contracts

Put Positions

Institution	Position Value
C Cubist Systematic Strategies, LLC Institution	$5.4M 181.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.3M 43.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$773.8K 26.0 contracts
J JANE STREET GROUP, LLC Institution	$267.9K 9.0 contracts

Most Committed Institutions

Institutions with VBK as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
BHK Investment Advisors, LLC RIA/Wealth	Meredyth Roberts Hazzard CEO	9.28% $24.8M	83.4K shares	Q4 2017 Held for 7y 11m	$267.7M
Gladwyn Financial Advisors, Inc. RIA/Wealth	Timothy Terrence Murray President	7.56% $10.5M	35.4K shares	Q2 2025 Held for 5 months	$139.3M
Vawter Financial, Ltd. RIA/Wealth	Gary Lynn Vawter President	7.10% $15.6M	52.5K shares	Q4 2022 Held for 2y 11m	$220.3M
C Cohen Klingenstein, LLC Hedge Fund•Sector	Thomas Davis Klingenstein Managing Partner	6.25% $199.5M	670.4K shares	Q1 2016 Held for 9y 8m	$3.2B
Fee-Only Financial Planning, L.C. RIA/Wealth	Andrew Michael Hudick Managing Partner	5.25% $9.0M	30.2K shares	Q4 2022 Held for 2y 11m	$171.4M
Brickley Wealth Management RIA/Wealth	Stephen Mark Brickley CCO	5.22% $30.0M	100.6K shares	Q4 2017 Held for 7y 11m	$573.8M
American Financial Advisors, LLC RIA/Wealth	Michael David Stark CEO	4.91% $38.0M	127.6K shares	Q4 2018 Held for 6y 11m	$774.4M
Whitaker-Myers Wealth Managers, LTD. RIA/Wealth	John-Mark Collier Young President	4.76% $21.1M	71.0K shares	Q4 2022 Held for 2y 11m	$443.7M
Strategies Wealth Advisors, LLC RIA/Wealth	Michael Thomas Berkemeier Managing Partner	4.37% $42.1M	141.3K shares	Q4 2022 Held for 2y 11m	$961.5M
MOSAIC FAMILY WEALTH PARTNERS, LLC RIA/Wealth	Duncan Scott Highmark President	4.26% $36.4M	121.8K shares	Q4 2022 Held for 2y 11m	$852.4M