Vanguard FTSE All-World Ex-US ETF

VEU • ARCA

Vanguard FTSE All-World Ex-US ETF is an exchange-traded fund on ARCA. As of Q3 2025, 1,360 institutional investors hold shares in this ETF, with total holdings valued at $23.1B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $1.7B.

Overview

Overview of institutional ownership in VEU as of Q3 2025

All Institutions

Institutions: 1,360
Value Held: $23.1B
Shares Held: 323.3M
Avg Position: $17.0M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 19
Value Held: $138.7M
Shares Held: 1.9M
Avg Position: $7.3M
Median Position: $1.2M

Biggest Investors

Institutions with the largest positions in VEU 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	$1.7B 0.13% of portfolio	24.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$1.7B 0.10% of portfolio	23.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$1.2B 0.15% of portfolio	16.7M shares	≤ Q2 2013 Held for 12y 5m+	$782.01B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$708.2M 0.21% of portfolio	9.9M shares	≤ Q2 2013 Held for 12y 5m+	$341.99B
Sanders Capital, LLC Long Only Manager	Lewis Alan Sanders CEO	$645.3M 0.79% of portfolio	9.0M shares	Q4 2011 Held for 13y 11m	$81.3B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$620.6M 0.13% of portfolio	8.7M shares	≤ Q2 2013 Held for 12y 5m+	$488.61B
PNC FINANCIAL SERVICES GROUP, INC. Institution	William S. Demchak CEO	$548.4M 0.33% of portfolio	7.7M shares	≤ Q2 2013 Held for 12y 5m+	$164.83B
BKD Wealth Advisors, LLC RIA/Wealth	Michael William Murray CEO	$512.2M 10.17% of portfolio	7.2M shares	Q3 2013 Held for 12y 2m	$5.0B
UBS Group AG Institution	Sergio P. Ermotti CEO	$487.0M 0.10% of portfolio	6.8M shares	Q4 2014 Held for 10y 11m	$511.54B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$441.6M 0.14% of portfolio	6.2M shares	Q4 2024 Held for 11 months	$310.43B

Net Capital Flow

Institutional buying and selling activity for VEU in Q3 2025

Net Flow: +$1.5B
Buyers: 583
Sellers: 462
Total Bought: +$2.1B
Total Sold: −$619.1M
Avg Position: $17.5M

Biggest Buyers

Institution	Net Bought	Current Position
WELLS FARGO & COMPANY/MN Institution	+$471.5M +6.6M shares	$620.6M 8.7M shares
Sanders Capital, LLC Long Only Manager	+$418.7M +5.9M shares	$645.3M 9.0M shares
BANK OF AMERICA CORP /DE/ Institution	+$269.3M +3.8M shares	$1.7B 24.0M shares
J JANE STREET GROUP, LLC Institution	+$85.9M +1.2M shares	$100.0M 1.4M shares
MORGAN STANLEY RIA/Wealth	+$48.9M +684.8K shares	$1.7B 23.2M shares
L LPL Financial LLC Institution	+$35.4M +496.5K shares	$238.8M 3.3M shares
NORTHERN TRUST CORP Institution	+$33.3M +466.2K shares	$1.2B 16.7M shares
E Euclidean Capital LLC Institution	+$31.1M +435.5K shares	$184.0M 2.6M shares
HighTower Advisors, LLC RIA/Wealth	+$24.0M +336.5K shares	$291.3M 4.1M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$23.0M +322.6K shares	$24.4M 342.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
Allspring Global Investments Holdings, LLC Long Only Manager	−$98.0M −1.4M shares	$16.6M 230.8K shares
VANGUARD GROUP INC Institution	−$73.4M −1.0M shares	$284.0M 4.0M shares
D DT Investment Partners, LLC RIA/Wealth	−$40.2M −563.0K shares	$2.8M 39.3K shares
C Capitolis Liquid Global Markets LLC Private Equity	−$37.5M −525.7K shares	$40.2M 563.4K shares
C CI Private Wealth, LLC RIA/Wealth	−$27.5M −388.7K shares	$76.5M 1.1M shares
Myriad Asset Management US LP Hedge Fund•Global Macro	−$19.4M −289.1K shares	Sold Off 0 shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$13.8M −192.9K shares	$708.2M 9.9M shares
TORONTO DOMINION BANK Institution	−$13.4M −200.0K shares	Sold Off 0 shares
G GREENLEAF TRUST Institution	−$12.6M −176.6K shares	$7.8M 109.8K shares
C CBIZ Investment Advisory Services, LLC RIA/Wealth	−$12.4M −173.1K shares	$380.8M 5.3M shares

Entry and Exit Activity

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

New Positions: 55
New Value: $104.3M
Exited Positions: 46
Exited Value: $79.1M

New Positions

Institution	Position Value
J.Safra Asset Management Corp Fund of Funds	$72.2M 1.0M shares
Strategic Wealth Designers RIA/Wealth	$5.7M 79.2K shares
M My Personal CFO, LLC RIA/Wealth	$4.3M 60.2K shares
M Mosaic Advisors LLC Family Office	$3.7M 52.3K shares
ABSOLUTE CAPITAL MANAGEMENT, LLC RIA/Wealth	$3.1M 42.9K shares
V Vise Technologies, Inc. Institution	$1.9M 26.4K shares
E EASTERN BANK Institution	$1.1M 15.9K shares
Harpswell Capital Advisors, LLC Fund of Funds	$1.1M 15.6K shares
Kendall Capital Management RIA/Wealth	$927.4K 13.0K shares
Summit Global Investments Long Only Manager	$726.3K 10.2K shares

Exited Positions

Institution	Previous Position
Myriad Asset Management US LP Hedge Fund•Global Macro	$19.4M 289.1K shares
TORONTO DOMINION BANK Institution	$13.4M 200.0K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	$12.2M 181.7K shares
Ridgepath Capital Management LLC RIA/Wealth	$8.2M 122.1K shares
C CITY OF LONDON INVESTMENT MANAGEMENT CO LTD Long Only Manager	$6.3M 93.3K shares
MARQUETTE ASSOCIATES, INC. Fund of Funds	$3.5M 52.0K shares
Siligmueller & Norvid Wealth Advisors LLC RIA/Wealth	$1.9M 28.6K shares
L.M. KOHN & COMPANY RIA/Wealth	$1.9M 28.0K shares
Retireful, LLC ETF Provider	$1.4M 21.0K shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$1.3M 19.0K shares

Options Activity

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

Call Positions: 2
Call Value: $7.0M
Put Positions: 2
Put Value: $1.5M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$6.6M 930.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$342.6K 48.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.5M 210.0 contracts
W WOLVERINE TRADING, LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
E Euclidean Capital LLC Institution	-	77.31% $184.0M	2.6M shares	Q3 2024 Held for 1y 2m	$238.0M
Flower City Capital RIA/Wealth	Vincent Joseph Crane COO	29.58% $54.9M	769.9K shares	Q3 2022 Held for 3y 2m	$185.8M
Somnio Financial Group, LLC RIA/Wealth	Robert Norman Roy CCO	19.15% $28.2M	395.7K shares	Q2 2025 Held for 5 months	$147.5M
5th Street Advisors, LLC RIA/Wealth	Cesar Gonzalez Manent Managing Partner	18.09% $36.5M	512.0K shares	Q4 2021 Held for 3y 11m	$202.0M
Wrenne Financial Planning LLC RIA/Wealth	Daniel Bryan Wrenne CEO	16.31% $37.1M	519.3K shares	Q4 2023 Held for 1y 11m	$227.2M
G Granby Capital Management, LLC Institution	-	16.23% $29.1M	408.0K shares	Q4 2020 Held for 4y 11m	$179.4M
Journey Beyond Wealth, LLC RIA/Wealth	Andrew Jacob Avera President	15.35% $18.7M	261.5K shares	Q4 2024 Held for 11 months	$121.6M
Strid Group, LLC RIA/Wealth	Paul Flick Strid Managing Partner	15.03% $118.3M	1.7M shares	Q1 2020 Held for 5y 8m	$787.0M
C CBIZ Investment Advisory Services, LLC RIA/Wealth	James Andrew King President	14.91% $380.8M	5.3M shares	Q4 2019 Held for 5y 11m	$2.6B
Five Pine Wealth Management RIA/Wealth	Benjamin Edward Holzhauser Founder	12.88% $19.1M	266.9K shares	Q4 2024 Held for 11 months	$147.9M

Hedge Fund Spotlight

Discover hedge funds investing in VEU

Carmel Capital Partners, LLC

Hedge Fund • Value

Portfolio ManagerRussell Gavin Silberstein

Portfolio Value: $239.6M
Positions: 105
Last Reported: Q3 2025

Sector Allocation

Position in Vanguard FTSE All-World Ex-US ETF

Market Value: $384.7K
Shares Held: 5.4K
Portfolio Weight: 0.16%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Home Depot HD	Home Improvement Consumer Cyclical	$32.1M	13.39%
2 WisdomTree Floating Rate Treasury Fund USFR	ETF ETF	$27.2M	11.33%
3 Palantir Technologies Inc. PLTR	Software - Infrastructure Technology	$20.7M	8.63%