Vanguard Health Care

VHT • ARCA

Vanguard Health Care is an exchange-traded fund on ARCA. As of Q3 2025, 990 institutional investors hold shares in this ETF, with total holdings valued at $5.4B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $424.7M.

Overview

Overview of institutional ownership in VHT as of Q3 2025

All Institutions

Institutions: 990
Value Held: $5.4B
Shares Held: 20.7M
Avg Position: $5.4M
Median Position: $552.0K

Hedge Funds

Hedge Funds: 15
Value Held: $39.2M
Shares Held: 152.0K
Avg Position: $2.6M
Median Position: $1.1M

Biggest Investors

Institutions with the largest positions in VHT 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	$424.7M 0.03% of portfolio	1.6M shares	≤ Q2 2013 Held for 12y 6m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$382.8M 0.02% of portfolio	1.5M shares	≤ Q2 2013 Held for 12y 6m+	$1.65T
Green Harvest Asset Management LLC Long Only Manager	Stuart Sherman Parker CEO	$343.5M 5.26% of portfolio	1.3M shares	Q4 2022 Held for 3 years	$6.5B
UBS Group AG Institution	Sergio P. Ermotti CEO	$338.8M 0.07% of portfolio	1.3M shares	Q4 2014 Held for 11 years	$511.60B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$211.8M 0.04% of portfolio	815.7K shares	≤ Q2 2013 Held for 12y 6m+	$488.52B
H Harel Insurance Investments & Financial Services Ltd. Institution	-	$197.1M 2.00% of portfolio	759.1K shares	Q4 2015 Held for 10 years	$9.8B
L LPL Financial LLC Institution	-	$195.9M 0.06% of portfolio	754.8K shares	≤ Q2 2013 Held for 12y 6m+	$340.07B
E EVERETT HARRIS & CO /CA/ RIA/Wealth	Oliver Northcote Crary CEO	$189.7M 2.36% of portfolio	730.9K shares	Q3 2014 Held for 11y 3m	$8.1B
R ROYAL BANK OF CANADA Institution	-	$108.7M 0.02% of portfolio	418.9K shares	≤ Q2 2013 Held for 12y 6m+	$542.04B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$105.9M 0.03% of portfolio	407.9K shares	Q4 2024 Held for 1 year	$310.44B

Net Capital Flow

Institutional buying and selling activity for VHT in Q3 2025

Traded: −$291.5M
Buyers: 339
Sellers: 489
Total Bought: +$296.4M
Total Sold: −$587.8M
Avg Position: $5.1M

Biggest Buyers

Institution	Net Bought	Current Position
Steward Partners Investment Advisory, LLC RIA/Wealth	+$42.7M +164.5K shares	$48.6M 187.1K shares
A Advisor Group Holdings, Inc. Institution	+$28.7M +111.3K shares	$70.1M 272.2K shares
Lido Advisors, LLC RIA/Wealth	+$28.6M +110.1K shares	$28.6M 110.1K shares
UBS Group AG Institution	+$27.3M +105.1K shares	$338.8M 1.3M shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$26.0M +100.3K shares	$32.6M 125.4K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$25.0M +96.2K shares	$31.5M 121.6K shares
Cetera Investment Advisers RIA/Wealth	+$15.1M +58.1K shares	$93.4M 359.6K shares
G GTS SECURITIES LLC Institution	+$4.6M +17.9K shares	$5.2M 20.1K shares
BANK OF MONTREAL /CAN/ Institution	+$4.5M +17.4K shares	$11.1M 42.9K shares
Curran Financial Partners, LLC RIA/Wealth	+$4.4M +16.8K shares	$4.9M 18.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
Morningstar Investment Management LLC Long Only Manager	−$91.8M −353.7K shares	$13.4M 51.5K shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$79.5M −320.1K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$73.5M −283.1K shares	$424.7M 1.6M shares
WELLS FARGO & COMPANY/MN Institution	−$25.5M −98.2K shares	$211.8M 815.7K shares
R ROYAL BANK OF CANADA Institution	−$19.5M −75.3K shares	$108.7M 418.9K shares
L Laurel Wealth Advisors LLC RIA/Wealth	−$18.5M −74.5K shares	Sold Off 0 shares
Janney Montgomery Scott LLC RIA/Wealth	−$14.9M −57.2K shares	$49.7M 191.5K shares
KCM INVESTMENT ADVISORS LLC RIA/Wealth	−$12.9M −49.6K shares	$14.5M 55.8K shares
ALTFEST L J & CO INC RIA/Wealth	−$12.7M −48.9K shares	$2.6M 9.9K shares
Rockefeller Capital Management L.P. Long Only Manager	−$12.1M −46.4K shares	$25.1M 96.6K shares

Entry and Exit Activity

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

New Positions: 27
New Value: $11.6M
Exited Positions: 62
Exited Value: $146.7M

New Positions

Institution	Position Value
Sovran Advisors, LLC RIA/Wealth	$2.1M 7.9K shares
E Eisler Capital Management Ltd. Institution	$1.6M 6.3K shares
E Ensign Peak Advisors, Inc Institution	$1.6M 6.0K shares
ENDEAVOR PRIVATE WEALTH, INC. RIA/Wealth	$1.1M 4.2K shares
Kassira Wealth Management LLC RIA/Wealth	$1.0M 4.0K shares
O One Capital Management, LLC RIA/Wealth	$636.8K 2.5K shares
X XTX Topco Ltd Institution	$601.2K 2.3K shares
LMG Wealth Partners, LLC RIA/Wealth	$417.1K 1.6K shares
B BCGM Wealth Management, LLC Institution	$360.6K 1.4K shares
FLORIDA FINANCIAL ADVISORS, LLC RIA/Wealth	$297.8K 1.1K shares

Exited Positions

Institution	Previous Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	$79.5M 320.1K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$18.5M 74.5K shares
Nicholas Investment Partners, LP Long Only Manager	$9.4M 38.1K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$9.4M 37.9K shares
P Polianta Ltd Institution	$7.1M 28.7K shares
A ASB Consultores, LLC RIA/Wealth	$3.2M 12.8K shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	$2.3M 9.4K shares
ALEXANDER LABRUNERIE & CO., INC. RIA/Wealth	$2.2M 9.0K shares
SRS Capital Advisors, Inc. RIA/Wealth	$1.8M 7.1K shares
F First American Bank Institution	$1.3M 5.2K shares

Options Activity

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

Call Positions: 4
Call Value: $7.9M
Put Positions: 3
Put Value: $7.8M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.8M 186.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.4M 93.0 contracts
C Cubist Systematic Strategies, LLC Institution	$337.5K 13.0 contracts
W WOLVERINE TRADING, LLC Institution	$279.3K 11.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.3M 283.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$467.3K 18.0 contracts
C Cubist Systematic Strategies, LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Wheelhouse Advisory Group LLC RIA/Wealth	Rishi Ghosh Managing Partner	8.81% $20.4M	78.8K shares	Q4 2023 Held for 2 years	$232.2M
Allied Investment Advisors, LLC RIA/Wealth	Eric Allen Vermulm CIO	6.76% $42.5M	163.5K shares	Q4 2017 Held for 8 years	$628.3M
L Lakeshore Financial Planning, Inc. RIA/Wealth	Jeffrey Francis Brayton President	5.29% $14.3M	54.9K shares	Q1 2025 Held for 9 months	$269.4M
Green Harvest Asset Management LLC Long Only Manager	Stuart Sherman Parker CEO	5.26% $343.5M	1.3M shares	Q4 2022 Held for 3 years	$6.5B
PARAGON FINANCIAL PARTNERS, INC. RIA/Wealth	Evan Floyd Shorten President	4.81% $7.6M	29.4K shares	Q4 2021 Held for 4 years	$158.4M
Paradigm Capital Management, LLC/NV RIA/Wealth	John William Nunn CIO	4.33% $3.7M	14.4K shares	Q3 2024 Held for 1y 3m	$86.5M
Adaptive Financial Consulting, LLC RIA/Wealth	Jonathan Ian Grundman CIO	4.32% $10.8M	41.6K shares	Q4 2019 Held for 6 years	$250.1M
TrueWealth Financial Partners RIA/Wealth	Glenn Marshall Rossman Managing Partner	4.05% $7.9M	30.6K shares	Q1 2025 Held for 9 months	$196.0M
Beacon Capital Management, Inc. RIA/Wealth	Emily Marlene Damman President	3.90% $81.6M	314.4K shares	Q4 2013 Held for 12 years	$2.1B
DMKC Advisory Services, LLC RIA/Wealth	Daniel Michael Kelly President	3.73% $7.4M	28.3K shares	Q4 2024 Held for 1 year	$197.1M