Vanguard Short-Term Treasury

VGSH • NASDAQ

Vanguard Short-Term Treasury is an exchange-traded fund on NASDAQ. As of Q3 2025, 916 institutional investors hold shares in this ETF, with total holdings valued at $14.7B. JPMORGAN CHASE & CO is the largest holder with a position valued at $1.5B.

Overview

Overview of institutional ownership in VGSH as of Q3 2025

All Institutions

Institutions: 916
Value Held: $14.7B
Shares Held: 250.2M
Avg Position: $16.1M
Median Position: $1.2M

Hedge Funds

Hedge Funds: 12
Value Held: $82.7M
Shares Held: 1.4M
Avg Position: $6.9M
Median Position: $2.7M

Biggest Investors

Institutions with the largest positions in VGSH as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$1.5B 0.10% of portfolio	25.6M shares	Q3 2018 Held for 7y 3m	$1.56T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$1.3B 0.08% of portfolio	22.1M shares	≤ Q2 2013 Held for 12y 6m+	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$582.6M 0.04% of portfolio	9.9M shares	≤ Q2 2013 Held for 12y 6m+	$1.33T
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$476.0M 0.06% of portfolio	8.1M shares	Q3 2021 Held for 4y 3m	$782.03B
Orgel Wealth Management, LLC RIA/Wealth	Mark Alan Orgel Chairman	$442.9M 10.64% of portfolio	7.5M shares	Q3 2022 Held for 3y 3m	$4.2B
Baird Financial Group, Inc. Private Equity	Paul Lee Schultz General Counsel	$394.2M 0.63% of portfolio	6.7M shares	Q2 2018 Held for 7y 6m	$62.1B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$320.8M 0.05% of portfolio	5.5M shares	Q1 2014 Held for 11y 9m	$691.37B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$258.9M 0.01% of portfolio	4.4M shares	Q2 2019 Held for 6y 6m	$2.88T
NorthRock Partners, LLC RIA/Wealth	Robert Dean Nelson CEO	$258.4M 5.10% of portfolio	4.4M shares	Q2 2023 Held for 2y 6m	$5.1B
Adviser Investments LLC Family Office	Michelle Ann Knight CEO	$252.1M 2.86% of portfolio	4.3M shares	Q1 2022 Held for 3y 9m	$8.8B

Net Capital Flow

Institutional buying and selling activity for VGSH in Q3 2025

Traded: +$454.2M
Buyers: 521
Sellers: 347
Total Bought: +$1.2B
Total Sold: −$756.7M
Avg Position: $14.9M

Biggest Buyers

Institution	Net Bought	Current Position
MORGAN STANLEY RIA/Wealth	+$94.5M +1.6M shares	$1.3B 22.1M shares
NORTHERN TRUST CORP Institution	+$82.2M +1.4M shares	$476.0M 8.1M shares
BANK OF AMERICA CORP /DE/ Institution	+$68.4M +1.2M shares	$582.6M 9.9M shares
Retirement Planning Group RIA/Wealth	+$62.2M +1.1M shares	$67.3M 1.1M shares
Baird Financial Group, Inc. Private Equity	+$55.7M +946.5K shares	$394.2M 6.7M shares
Penserra Capital Management LLC ETF Provider	+$53.3M +905.5K shares	$74.5M 1.3M shares
AMERIPRISE FINANCIAL INC Institution	+$40.5M +689.2K shares	$196.7M 3.3M shares
4 49 WEALTH MANAGEMENT, LLC Institution	+$35.4M +602.1K shares	$43.2M 734.6K shares
E Elm Partners Management LLC Institution	+$27.6M +469.6K shares	$49.4M 840.0K shares
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV Fund of Funds	+$23.2M +394.3K shares	$74.2M 1.3M shares

Biggest Sellers

Institution	Net Sold	Current Position
C CI Private Wealth, LLC RIA/Wealth	−$69.3M −1.2M shares	$17.6M 298.3K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$65.7M −1.1M shares	Sold Off 0 shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	−$57.3M −973.6K shares	$29.5M 501.6K shares
Cetera Investment Advisers RIA/Wealth	−$56.3M −957.2K shares	$62.9M 1.1M shares
NEW YORK LIFE INVESTMENT MANAGEMENT LLC Long Only Manager	−$39.3M −668.3K shares	$50.9M 865.8K shares
N NOMURA ASSET MANAGEMENT CO LTD Long Only Manager	−$35.2M −598.6K shares	$50.3M 854.5K shares
Merit Financial Group, LLC RIA/Wealth	−$32.7M −555.1K shares	$6.1M 103.0K shares
Alaethes Wealth LLC RIA/Wealth	−$29.7M −504.6K shares	Sold Off 0 shares
GOLDMAN SACHS GROUP INC Institution	−$29.4M −499.0K shares	$320.8M 5.5M shares
CWA Asset Management Group, LLC RIA/Wealth	−$19.4M −330.4K shares	$6.5M 111.1K shares

Entry and Exit Activity

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

New Positions: 43
New Value: $38.8M
Exited Positions: 73
Exited Value: $161.4M

New Positions

Institution	Position Value
Forefront Wealth Partners, LLC RIA/Wealth	$9.2M 156.8K shares
Kassira Wealth Management LLC RIA/Wealth	$3.6M 61.5K shares
SoundView Advisors Inc. RIA/Wealth	$3.1M 52.4K shares
Sellwood Investment Partners LLC Fund of Funds	$2.6M 44.2K shares
Saxony Capital Management, LLC RIA/Wealth	$2.5M 42.3K shares
M MONOGRAPH WEALTH ADVISORS, LLC RIA/Wealth	$2.4M 41.5K shares
Noble Family Wealth, LLC RIA/Wealth	$2.2M 36.6K shares
FINANCIAL ADVISORY CORP /UT/ /ADV RIA/Wealth	$1.9M 32.5K shares
ABSOLUTE CAPITAL MANAGEMENT, LLC RIA/Wealth	$1.2M 20.9K shares
Intrua Financial, LLC RIA/Wealth	$888.8K 15.1K shares

Exited Positions

Institution	Previous Position
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$65.7M 1.1M shares
Alaethes Wealth LLC RIA/Wealth	$29.7M 504.6K shares
Eqis Capital Management, Inc. RIA/Wealth	$7.5M 126.8K shares
AllGen Financial Advisors, Inc. RIA/Wealth	$6.2M 106.2K shares
H Hirtle Callaghan & Co LLC Fund of Funds	$6.2M 105.2K shares
D Diligent Investors, LLC RIA/Wealth	$5.9M 100.0K shares
F FLOW TRADERS U.S. LLC Institution	$3.9M 67.1K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$3.4M 58.2K shares
DOVER ADVISORS, LLC RIA/Wealth	$3.2M 54.2K shares
G GTS SECURITIES LLC Institution	$2.2M 37.9K shares

Options Activity

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

Call Positions: 1
Call Value: $194.2K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
Brooklands Fund Management Ltd Hedge Fund•Multi-Strategy	$194.2K 33.0 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
I INSIGHT 2811, INC. RIA/Wealth	Jeffrey Richardson Keen President	21.26% $47.7M	810.7K shares	Q1 2019 Held for 6y 9m	$224.4M
Drum Hill Capital, LLC RIA/Wealth	David Cleaves Nightingale CIO	15.01% $13.6M	231.3K shares	Q4 2024 Held for 1 year	$90.7M
American Assets Capital Advisers Real Assets	Burland Bland East CEO	14.34% $13.6M	230.9K shares	Q1 2025 Held for 9 months	$94.7M
Vernal Point Advisors, LLC Family Office	Mark David Guinney CIO	13.82% $32.0M	544.6K shares	Q4 2023 Held for 2 years	$231.9M
Strata Wealth Advisors, LLC RIA/Wealth	Kenneth Roy Painter CEO	13.75% $52.3M	888.9K shares	Q3 2023 Held for 2y 3m	$380.4M
C Cordant, Inc. Institution	-	12.84% $28.2M	478.7K shares	Q4 2019 Held for 6 years	$219.5M
C Cornerstone Wealth Advisors, Inc. RIA/Wealth	Jane Mathieu President	12.81% $52.9M	899.2K shares	Q1 2021 Held for 4y 9m	$413.1M
MAYPORT, LLC RIA/Wealth	Adam M Grossman Founder	12.02% $55.5M	943.0K shares	Q4 2021 Held for 4 years	$461.6M
F Five Oceans Advisors RIA/Wealth	Spencer David Rand CCO	11.82% $32.1M	546.1K shares	Q3 2021 Held for 4y 3m	$271.8M
A Alta Advisers Ltd Institution	-	11.59% $37.9M	663.0K shares	Q4 2018 Held for 7 years	$326.9M

Hedge Fund Spotlight

Discover hedge funds investing in VGSH

Solstein Capital, LLC

Hedge Fund • Value

Portfolio ManagerNadine F Terman

Portfolio Value: $218.5M
Positions: 447
Last Reported: Q3 2025

Sector Allocation

Position in Vanguard Short-Term Treasury

Market Value: $942.0
Shares Held: 16.0
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$18.6M	8.50%
2 Apple AAPL	Consumer Electronics Technology	$16.9M	7.73%
3 Microsoft MSFT	Software - Infrastructure Technology	$11.9M	5.44%