Vanguard FTSE Developed Markets

VEA • ARCA

Vanguard FTSE Developed Markets is an exchange-traded fund on ARCA. As of Q3 2025, 2,496 institutional investors hold shares in this ETF, with total holdings valued at $134.76B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $12.1B.

Overview

Overview of institutional ownership in VEA as of Q3 2025

All Institutions

Institutions: 2,496
Value Held: $134.76B
Shares Held: 2.25B
Avg Position: $54.0M
Median Position: $2.2M

Hedge Funds

Hedge Funds: 30
Value Held: $680.5M
Shares Held: 11.3M
Avg Position: $22.7M
Median Position: $1.8M

Biggest Investors

Institutions with the largest positions in VEA 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	$12.1B 0.91% of portfolio	201.5M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
Betterment LLC RIA/Wealth	Sarah Kirshbaum Levy CEO	$8.2B 17.41% of portfolio	137.4M shares	Q4 2014 Held for 10y 11m	$47.3B
Creative Planning RIA/Wealth	Peter Alex Mallouk CEO	$7.7B 5.87% of portfolio	128.1M shares	≤ Q2 2013 Held for 12y 5m+	$130.86B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$5.0B 1.45% of portfolio	82.8M shares	≤ Q2 2013 Held for 12y 5m+	$341.99B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$3.8B 0.78% of portfolio	63.5M shares	Q1 2020 Held for 5y 8m	$488.61B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$3.8B 0.23% of portfolio	62.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
Wealthfront Advisers LLC RIA/Wealth	Andrew Samuel Rachleff CEO	$3.5B 8.20% of portfolio	58.3M shares	Q4 2018 Held for 6y 11m	$42.6B
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$3.5B 2.32% of portfolio	58.1M shares	≤ Q2 2013 Held for 12y 5m+	$149.83B
J JONES FINANCIAL COMPANIES LLLP Institution	-	$3.0B 2.08% of portfolio	51.3M shares	Q1 2016 Held for 9y 8m	$146.70B
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$2.9B 0.38% of portfolio	49.0M shares	≤ Q2 2013 Held for 12y 5m+	$782.01B

Net Capital Flow

Institutional buying and selling activity for VEA in Q3 2025

Net Flow: +$2.1B
Buyers: 1,294
Sellers: 856
Total Bought: +$6.3B
Total Sold: −$4.2B
Avg Position: $54.7M

Biggest Buyers

Institution	Net Bought	Current Position
MONETA GROUP INVESTMENT ADVISORS LLC RIA/Wealth	+$587.4M +9.8M shares	$652.4M 10.9M shares
BANK OF AMERICA CORP /DE/ Institution	+$414.9M +6.9M shares	$12.1B 201.5M shares
J Jasper Ridge Partners, L.P. Fund of Funds	+$326.7M +5.5M shares	$1.2B 20.8M shares
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Fund of Funds	+$307.2M +5.1M shares	$508.7M 8.5M shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$287.5M +4.8M shares	$2.0B 33.4M shares
CAPTRUST FINANCIAL ADVISORS RIA/Wealth	+$212.4M +3.5M shares	$1.7B 28.5M shares
C CI Private Wealth, LLC RIA/Wealth	+$201.8M +3.4M shares	$1.5B 24.4M shares
Betterment LLC RIA/Wealth	+$201.6M +3.4M shares	$8.2B 137.4M shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	+$184.4M +3.1M shares	$3.5B 58.1M shares
NORTHERN TRUST CORP Institution	+$138.4M +2.3M shares	$2.9B 49.0M shares

Biggest Sellers

Institution	Net Sold	Current Position
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$1.0B −16.9M shares	$5.0B 82.8M shares
Gallagher Fiduciary Advisors, LLC Pension/Endowment	−$712.6M −11.9M shares	$518.3K 8.7K shares
Creative Planning RIA/Wealth	−$238.8M −4.0M shares	$7.7B 128.1M shares
MORGAN STANLEY RIA/Wealth	−$178.4M −3.0M shares	$3.8B 62.8M shares
J JANE STREET GROUP, LLC Institution	−$172.9M −2.9M shares	$29.9M 498.6K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$134.7M −2.4M shares	Sold Off 0 shares
T TECTONIC ADVISORS LLC RIA/Wealth	−$127.9M −2.1M shares	$42.8M 713.8K shares
Empowered Funds, LLC ETF Provider	−$118.1M −2.0M shares	$740.6K 12.4K shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$109.6M −1.8M shares	$16.5M 276.1K shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$100.6M −1.8M shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 55
New Value: $140.9M
Exited Positions: 70
Exited Value: $360.6M

New Positions

Institution	Position Value
I Inherent Management Corp. Institution	$70.2M 1.2M shares
R Rede Wealth, LLC RIA/Wealth	$12.6M 211.0K shares
Integrity Advisory Solutions, LLC RIA/Wealth	$11.4M 191.1K shares
Atom Investors LP Hedge Fund•Market Neutral	$5.4M 90.0K shares
Northern Financial Advisors Inc RIA/Wealth	$5.3M 88.3K shares
Employees' Retirement Fund of the City of Fort Worth RIA/Wealth	$4.7M 79.1K shares
Dynamic Wealth Strategies, LLC RIA/Wealth	$4.5M 75.8K shares
a16z Perennial Management, L.P. Fund of Funds	$2.9M 48.8K shares
Tandem Financial, LLC RIA/Wealth	$2.7M 44.3K shares
Walker Financial Services, Inc. RIA/Wealth	$2.6M 42.6K shares

Exited Positions

Institution	Previous Position
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$134.7M 2.4M shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	$100.6M 1.8M shares
BANK OF NOVA SCOTIA / Institution	$73.8M 1.3M shares
AlphaStar Capital Management, LLC RIA/Wealth	$9.2M 160.8K shares
Victrix Investment Advisors RIA/Wealth	$7.4M 130.5K shares
P PRUDENTIAL PLC Institution	$4.0M 69.6K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$3.9M 69.1K shares
Financial Advocates Investment Management RIA/Wealth	$3.9M 68.4K shares
T TABLEAUX LLC Institution	$3.1M 44.8K shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$2.8M 49.5K shares

Options Activity

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

Call Positions: 5
Call Value: $12.5M
Put Positions: 7
Put Value: $8.7M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$9.0M 1.5K contracts
J JANE STREET GROUP, LLC Institution	$1.9M 314.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.1M 189.0 contracts
C Cubist Systematic Strategies, LLC Institution	$263.6K 44.0 contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$227.7K 38.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.3M 723.0 contracts
J JANE STREET GROUP, LLC Institution	$1.6M 271.0 contracts
WELLS FARGO & COMPANY/MN Institution	$1.2M 200.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$988.7K 165.0 contracts
C Cubist Systematic Strategies, LLC Institution	$461.4K 77.0 contracts
BANK OF AMERICA CORP /DE/ Institution	$77.9K 13.0 contracts
B Belvedere Trading LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
TFO-TDC, LLC RIA/Wealth	Christopher Edward Erblich CEO	43.15% $262.8M	4.4M shares	Q4 2019 Held for 5y 11m	$609.1M
I Inherent Management Corp. Institution	-	40.25% $70.2M	1.2M shares	Q3 2025 Held for 2 months	$174.4M
E Ebor Charitable Trust Institution	-	30.17% $12.0M	226.8K shares	Q4 2019 Held for 5y 11m	$39.7M
W WealthNavi Inc. Institution	-	29.22% $2.9B	48.8M shares	Q1 2019 Held for 6y 8m	$10.0B
B Bakala Capital Management LLC Institution	-	29.16% $5.4M	90.1K shares	Q4 2023 Held for 1y 11m	$18.5M
J Jasper Ridge Partners, L.P. Fund of Funds	Raymond Lee Durham CFO	28.02% $1.2B	20.8M shares	Q3 2015 Held for 10y 2m	$4.4B
NDVR, Inc. RIA/Wealth	Amber Dawn Baker CCO	23.18% $27.8M	464.1K shares	Q4 2023 Held for 1y 11m	$120.0M
Axos Invest Inc. RIA/Wealth	John D Thompson President	21.98% $29.3M	489.7K shares	Q3 2024 Held for 1y 2m	$133.5M
Keener Financial Planning LLC RIA/Wealth	Kelli Hinton Director	21.71% $46.1M	769.1K shares	Q4 2023 Held for 1y 11m	$212.2M
PACK Private Wealth, LLC RIA/Wealth	Derek Joel Swedberg Managing Partner	20.51% $43.5M	726.5K shares	Q4 2021 Held for 3y 11m	$212.3M

Hedge Fund Spotlight

Discover hedge funds investing in VEA

EAGLE GLOBAL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerSteven Samuel Russo

Portfolio Value: $2.6B
Positions: 275
Last Reported: Q3 2025

Sector Allocation

Position in Vanguard FTSE Developed Markets

Market Value: $754.6K
Shares Held: 12.6K
Portfolio Weight: 0.03%
Owned Since: 2018-Q4

Top Holding	Sector	Market Value	Weight
1 Apple AAPL	Consumer Electronics Technology	$273.0M	10.46%
2 Energy Transfer ET	Oil & Gas Midstream Energy	$111.0M	4.25%
3 MPLX MPLX	Oil & Gas Midstream Energy	$96.8M	3.71%