Vanguard Long-Term Treasury

VGLT • NASDAQ

Vanguard Long-Term Treasury is an exchange-traded fund on NASDAQ. As of Q3 2025, 388 institutional investors hold shares in this ETF, with total holdings valued at $6.3B. Empower Advisory Group, LLC is the largest holder with a position valued at $761.6M.

Overview

Overview of institutional ownership in VGLT as of Q3 2025

All Institutions

Institutions: 388
Value Held: $6.3B
Shares Held: 110.8M
Avg Position: $16.3M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 3
Value Held: $3.2M
Shares Held: 57.0K
Avg Position: $1.1M
Median Position: $280.7K

Biggest Investors

Institutions with the largest positions in VGLT as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Empower Advisory Group, LLC RIA/Wealth	Jonathan David Kreider CEO	$761.6M 2.11% of portfolio	13.4M shares	Q4 2023 Held for 1y 11m	$36.1B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$530.6M 0.03% of portfolio	9.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$505.4M 0.12% of portfolio	8.8M shares	Q2 2016 Held for 9y 5m	$433.11B
ING INVESTMENT MANAGEMENT LLC Insurance Manager	Matthew Nmn Toms CEO	$466.3M 0.53% of portfolio	8.2M shares	Q2 2023 Held for 2y 5m	$88.4B
NEPC LLC Fund of Funds	Michael Patrick Manning CEO	$391.4M 10.33% of portfolio	6.9M shares	Q3 2023 Held for 2y 2m	$3.8B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$358.5M 0.03% of portfolio	6.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
Cassaday & Co Wealth Management LLC RIA/Wealth	Stephan Quinn Cassaday President	$259.0M 5.97% of portfolio	4.6M shares	Q3 2023 Held for 2y 2m	$4.3B
N Nan Shan Life Insurance Co., Ltd. Institution	-	$174.2M 3.70% of portfolio	3.1M shares	Q4 2021 Held for 3y 11m	$4.7B
Mirae Asset Global Investments Co., Ltd. Long Only Manager	Wanyoun Cho CEO	$165.3M 0.52% of portfolio	2.9M shares	Q2 2021 Held for 4y 5m	$31.7B
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Fund of Funds	David Ryan Druley CEO	$127.6M 2.36% of portfolio	2.0M shares	Q4 2019 Held for 5y 11m	$5.4B

Net Capital Flow

Institutional buying and selling activity for VGLT in Q3 2025

Traded: −$64.3M
Buyers: 211
Sellers: 189
Total Bought: +$484.7M
Total Sold: −$548.9M
Avg Position: $14.3M

Biggest Buyers

Institution	Net Bought	Current Position
Empower Advisory Group, LLC RIA/Wealth	+$51.7M +908.7K shares	$761.6M 13.4M shares
Forum Financial Management, LP RIA/Wealth	+$35.3M +621.5K shares	$47.4M 833.5K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$29.4M +517.8K shares	$29.4M 517.8K shares
NEPC LLC Fund of Funds	+$20.7M +364.2K shares	$391.4M 6.9M shares
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	+$19.7M +346.3K shares	$45.9M 807.3K shares
TIFF ADVISORY SERVICES INC Fund of Funds	+$18.5M +326.2K shares	$32.0M 562.4K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$18.4M +324.2K shares	$114.0M 2.0M shares
Baird Financial Group, Inc. Private Equity	+$13.7M +241.6K shares	$18.3M 321.7K shares
NorthRock Partners, LLC RIA/Wealth	+$12.7M +223.1K shares	$12.7M 223.6K shares
Toroso Investments, LLC ETF Provider	+$12.6M +221.1K shares	$12.6M 221.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
SCS Capital Management LLC RIA/Wealth	−$133.5M −2.3M shares	$47.0M 825.8K shares
AMERIPRISE FINANCIAL INC Institution	−$128.9M −2.2M shares	$505.4M 8.8M shares
BANK OF AMERICA CORP /DE/ Institution	−$41.6M −731.8K shares	$358.5M 6.3M shares
INCOME RESEARCH & MANAGEMENT Long Only Manager	−$39.6M −706.0K shares	Sold Off 0 shares
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Fund of Funds	−$38.9M −617.4K shares	$127.6M 2.0M shares
C Calamos Wealth Management LLC RIA/Wealth	−$19.6M −344.9K shares	$3.8M 66.4K shares
ONE + ONE WEALTH MANAGEMENT, LLC RIA/Wealth	−$13.8M −245.3K shares	Sold Off 0 shares
UBS Group AG Institution	−$13.0M −229.1K shares	$49.3M 867.0K shares
Stratos Wealth Advisors, LLC RIA/Wealth	−$8.0M −142.8K shares	Sold Off 0 shares
POWER WEALTH MANAGEMENT LLC RIA/Wealth	−$6.8M −120.5K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 31
New Value: $38.0M
Exited Positions: 54
Exited Value: $86.4M

New Positions

Institution	Position Value
Vestmark Advisory Solutions, Inc. Fund of Funds	$11.5M 201.7K shares
Summit Financial, LLC RIA/Wealth	$6.4M 112.9K shares
B BANK OF HAWAII Institution	$5.5M 97.2K shares
C Capitolis Liquid Global Markets LLC Private Equity	$5.4M 95.0K shares
Axiom Financial Strategies, LLC RIA/Wealth	$3.9M 69.4K shares
Werba Rubin Papier Wealth Management RIA/Wealth	$950.9K 16.7K shares
Mittelman Wealth Management RIA/Wealth	$580.1K 10.2K shares
BAM Wealth Management, LLC RIA/Wealth	$452.8K 8.0K shares
ARKANSAS FINANCIAL GROUP, INC. RIA/Wealth	$440.2K 7.7K shares
D.B. Root & Company, LLC RIA/Wealth	$402.8K 7.1K shares

Exited Positions

Institution	Previous Position
INCOME RESEARCH & MANAGEMENT Long Only Manager	$39.6M 706.0K shares
ONE + ONE WEALTH MANAGEMENT, LLC RIA/Wealth	$13.8M 245.3K shares
Stratos Wealth Advisors, LLC RIA/Wealth	$8.0M 142.8K shares
POWER WEALTH MANAGEMENT LLC RIA/Wealth	$6.8M 120.5K shares
N Nekton Capital Ltd. Institution	$3.3M 58.3K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.9M 34.2K shares
Beta Wealth Group, Inc. RIA/Wealth	$1.8M 32.5K shares
Duncan Williams Asset Management, LLC RIA/Wealth	$1.3M 22.6K shares
Retireful, LLC ETF Provider	$1.2M 20.6K shares
Pathstone Holdings, LLC Family Office	$1.0M 18.3K shares

Options Activity

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

Call Positions: 3
Call Value: $8.8M
Put Positions: 3
Put Value: $7.0M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.1M 715.0 contracts
J JANE STREET GROUP, LLC Institution	$3.1M 538.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.7M 292.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$6.2M 1.1K contracts
J JANE STREET GROUP, LLC Institution	$460.6K 81.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$324.1K 57.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
R Rainwater Charitable Foundation Institution	-	30.36% $48.4M	851.7K shares	Q4 2023 Held for 1y 11m	$159.5M
Ironwood Wealth Management, LLC. RIA/Wealth	Cean Nicholas Kenefick-Rogers CEO	14.41% $43.0M	756.2K shares	Q3 2023 Held for 2y 2m	$298.4M
NEPC LLC Fund of Funds	Michael Patrick Manning CEO	10.33% $391.4M	6.9M shares	Q3 2023 Held for 2y 2m	$3.8B
Barry Investment Advisors, LLC RIA/Wealth	Kathy Ann Alves President	9.47% $41.2M	724.4K shares	Q4 2024 Held for 11 months	$434.7M
D Dunhill Financial, LLC RIA/Wealth	Kamaljit Singh Somal CIO	6.81% $26.0M	458.1K shares	Q1 2024 Held for 1y 8m	$382.5M
TIFF ADVISORY SERVICES INC Fund of Funds	Clarence Kane Brenan CEO	6.66% $32.0M	562.4K shares	Q4 2023 Held for 1y 11m	$480.3M
Cassaday & Co Wealth Management LLC RIA/Wealth	Stephan Quinn Cassaday President	5.97% $259.0M	4.6M shares	Q3 2023 Held for 2y 2m	$4.3B
R RETIREMENT FINANCIAL SOLUTIONS, LLC RIA/Wealth	Clark Calvin Shofner Managing Partner	5.79% $9.5M	166.7K shares	Q3 2025 Held for 2 months	$163.7M
A Aurelius Family Office LLC Family Office	Brenda Lee Winslow CCO	5.21% $11.7M	205.9K shares	Q4 2024 Held for 11 months	$224.8M
WEST CHESTER CAPITAL ADVISORS, INC RIA/Wealth	Frank Joseph Lapinsky CEO	4.94% $9.8M	171.8K shares	Q4 2024 Held for 11 months	$197.9M

Hedge Fund Spotlight

Discover hedge funds investing in VGLT

AQR CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Gary Kabiller

Portfolio Value: $156.17B
Positions: 3,453
Last Reported: Q3 2025

Sector Allocation

Position in Vanguard Long-Term Treasury

Market Value: $2.8M
Shares Held: 48.5K
Portfolio Weight: 0.00%
Owned Since: 2025-Q2

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