Vanguard U.S. Value Factor

VFVA • BATS

Vanguard U.S. Value Factor is an exchange-traded fund on BATS. As of Q3 2025, 88 institutional investors hold shares in this ETF, with total holdings valued at $338.5M. VANTAGEPOINT INVESTMENT ADVISERS LLC is the largest holder with a position valued at $64.6M.

Overview

Overview of institutional ownership in VFVA as of Q3 2025

All Institutions

Institutions: 88
Value Held: $338.5M
Shares Held: 2.7M
Avg Position: $3.8M
Median Position: $547.8K

Hedge Funds

Hedge Funds: 1
Value Held: $1.7M
Shares Held: 13.1K
Avg Position: $1.7M
Median Position: $1.7M

Biggest Investors

Institutions with the largest positions in VFVA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
V VANTAGEPOINT INVESTMENT ADVISERS LLC Institution	-	$64.6M 0.53% of portfolio	506.8K shares	Q3 2025 Held for 2 months	$12.2B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$57.4M 0.00% of portfolio	449.9K shares	Q2 2024 Held for 1y 5m	$1.33T
A Armbruster Capital Management, Inc. RIA/Wealth	Mark Edward Armbruster CEO	$54.6M 9.29% of portfolio	427.8K shares	Q3 2019 Held for 6y 2m	$587.6M
ANDERSON HOAGLAND & CO RIA/Wealth	David C. Anderson Chairman	$31.8M 2.86% of portfolio	249.7K shares	Q4 2020 Held for 4y 11m	$1.1B
Equitable Holdings, Inc. Institution	Robin M. Raju CEO	$21.0M 0.15% of portfolio	164.7K shares	Q1 2025 Held for 8 months	$13.6B
Adviser Investments LLC Family Office	Michelle Ann Knight CEO	$11.9M 0.14% of portfolio	93.4K shares	Q2 2022 Held for 3y 5m	$8.8B
MENORA MIVTACHIM HOLDINGS LTD. Private Equity	Edward Joseph Keefe CFO	$11.4M 0.06% of portfolio	89.4K shares	Q1 2025 Held for 8 months	$19.7B
Sterling Manor Financial, LLC RIA/Wealth	Adam Fletcher Doig Managing Partner	$8.0M 5.71% of portfolio	62.7K shares	Q1 2024 Held for 1y 8m	$140.1M
L LPL Financial LLC Institution	-	$7.3M 0.00% of portfolio	57.4K shares	Q4 2020 Held for 4y 11m	$340.07B
U UMB BANK N A/MO Institution	-	$6.3M 0.09% of portfolio	49.2K shares	Q4 2021 Held for 3y 11m	$6.8B

Net Capital Flow

Institutional buying and selling activity for VFVA in Q3 2025

Traded: +$120.3M
Buyers: 39
Sellers: 44
Total Bought: +$137.5M
Total Sold: −$17.2M
Avg Position: $3.5M

Biggest Buyers

Institution	Net Bought	Current Position
V VANTAGEPOINT INVESTMENT ADVISERS LLC Institution	+$64.6M +506.8K shares	$64.6M 506.8K shares
BANK OF AMERICA CORP /DE/ Institution	+$56.4M +442.5K shares	$57.4M 449.9K shares
Capital Advisors Wealth Management, LLC RIA/Wealth	+$5.3M +41.6K shares	$5.3M 41.6K shares
Equitable Holdings, Inc. Institution	+$4.7M +36.8K shares	$21.0M 164.7K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$1.7M +13.1K shares	$1.7M 13.1K shares
Savant Capital, LLC RIA/Wealth	+$1.1M +8.6K shares	$1.1M 8.6K shares
Glenmede Investment Management, LP Long Only Manager	+$741.0K +5.8K shares	$741.0K 5.8K shares
A Armbruster Capital Management, Inc. RIA/Wealth	+$546.1K +4.3K shares	$54.6M 427.8K shares
L LPL Financial LLC Institution	+$428.2K +3.4K shares	$7.3M 57.4K shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	+$271.0K +2.1K shares	$271.0K 2.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
Adviser Investments LLC Family Office	−$3.4M −27.0K shares	$11.9M 93.4K shares
UBS Group AG Institution	−$2.9M −22.7K shares	$3.7M 29.2K shares
ANDERSON HOAGLAND & CO RIA/Wealth	−$1.8M −13.8K shares	$31.8M 249.7K shares
Cresset Asset Management, LLC RIA/Wealth	−$1.5M −12.3K shares	Sold Off 0 shares
Fortis Advisors, LLC Family Office	−$1.0M −8.1K shares	$820.8K 6.4K shares
Sterling Manor Financial, LLC RIA/Wealth	−$1.0M −8.0K shares	$8.0M 62.7K shares
F FLOW TRADERS U.S. LLC Institution	−$772.0K −6.5K shares	Sold Off 0 shares
U UMB BANK N A/MO Institution	−$650.7K −5.1K shares	$6.3M 49.2K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$636.3K −5.4K shares	Sold Off 0 shares
T Tower Research Capital LLC Institution	−$539.6K −4.6K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 10
New Value: $71.6M
Exited Positions: 10
Exited Value: $4.2M

New Positions

Institution	Position Value
V VANTAGEPOINT INVESTMENT ADVISERS LLC Institution	$64.6M 506.8K shares
Capital Advisors Wealth Management, LLC RIA/Wealth	$5.3M 41.6K shares
Glenmede Investment Management, LP Long Only Manager	$741.0K 5.8K shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$271.0K 2.1K shares
E Exit Wealth Advisors, LLC. RIA/Wealth	$256.3K 2.0K shares
L Leonard Rickey Investment Advisors P.L.L.C. RIA/Wealth	$202.2K 1.6K shares
MANNING & NAPIER ADVISORS LLC RIA/Wealth	$120.7K 946.0 shares
R Root Financial Partners, LLC RIA/Wealth	$32.1K 252.0 shares
Triumph Capital Management RIA/Wealth	$1.3K 10.0 shares
P Perkins Coie Trust Co Institution	$1.3K 10.0 shares

Exited Positions

Institution	Previous Position
Cresset Asset Management, LLC RIA/Wealth	$1.5M 12.3K shares
F FLOW TRADERS U.S. LLC Institution	$772.0K 6.5K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	$636.3K 5.4K shares
T Tower Research Capital LLC Institution	$539.6K 4.6K shares
Gotham Asset Management, LLC Hedge Fund•Long/Short	$290.3K 18.6K shares
T TWO SIGMA SECURITIES, LLC Institution	$273.0K 2.3K shares
MorganRosel Wealth Management, LLC RIA/Wealth	$129.3K 1.1K shares
Ameritas Advisory Services, LLC RIA/Wealth	$41.8K 353.0 shares
J JONES FINANCIAL COMPANIES LLLP Institution	$36.2K 306.0 shares
A AMERIFLEX GROUP, INC. Institution	$4.9K 42.0 shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
A Armbruster Capital Management, Inc. RIA/Wealth	Mark Edward Armbruster CEO	9.29% $54.6M	427.8K shares	Q3 2019 Held for 6y 2m	$587.6M
Sterling Manor Financial, LLC RIA/Wealth	Adam Fletcher Doig Managing Partner	5.71% $8.0M	62.7K shares	Q1 2024 Held for 1y 8m	$140.1M
ANDERSON HOAGLAND & CO RIA/Wealth	David C. Anderson Chairman	2.86% $31.8M	249.7K shares	Q4 2020 Held for 4y 11m	$1.1B
C CoreFirst Bank & Trust Institution	-	0.85% $1.6M	12.3K shares	Q4 2023 Held for 1y 11m	$184.9M
Capital Advisors Wealth Management, LLC RIA/Wealth	Edward Charles Reinhart Managing Partner	0.76% $5.3M	41.6K shares	Q3 2025 Held for 2 months	$700.7M
Lebenthal Global Advisors, LLC RIA/Wealth	Dominick Tavella President	0.65% $3.7M	29.0K shares	Q4 2024 Held for 11 months	$570.8M
V VANTAGEPOINT INVESTMENT ADVISERS LLC Institution	-	0.53% $64.6M	506.8K shares	Q3 2025 Held for 2 months	$12.2B
Long Island Wealth Management, Inc. RIA/Wealth	Jeffrey Joseph Myers CCO	0.49% $998.8K	7.8K shares	Q4 2023 Held for 1y 11m	$205.4M
Fortis Advisors, LLC Family Office	Sanjiv Kumar Founder	0.47% $820.8K	6.4K shares	Q1 2021 Held for 4y 8m	$174.1M
Rockingstone Advisors LLC RIA/Wealth	Eric Richard Katzman CIO	0.45% $904.5K	7.1K shares	Q4 2022 Held for 2y 11m	$202.7M

Hedge Fund Spotlight

Discover hedge funds investing in VFVA

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerScott David Hoffman

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in Vanguard U.S. Value Factor

Market Value: $1.7M
Shares Held: 13.1K
Portfolio Weight: 0.00%
Owned Since: 2023-Q3

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%