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Vanguard Total Bond Market
BND

1,651 hedge funds and large institutions have $80.4B invested in Vanguard Total Bond Market in 2025 Q3 according to their latest regulatory filings, with 135 funds opening new positions, 827 increasing their positions, 508 reducing their positions, and 87 closing their positions.

New
Increased
Maintained
Reduced
Closed

282% more call options, than puts

Call options by funds: $7.43M | Put options by funds: $1.95M

63% more repeat investments, than reductions

Existing positions increased: 827 | Existing positions reduced: 508

55% more first-time investments, than exits

New positions opened: 135 | Existing positions closed: 87

6% more capital invested

Capital invested by funds: $76.2B → $80.4B (+$4.21B)

1% more funds holding

Funds holding: 1,639 → 1,651 (+12)

0.66% less ownership

Funds ownership: 60.2% → 59.53% (-0.66%)

3% less funds holding in top 10

Funds holding in top 10: 270 → 263 (-7)

Holders
1,651
Holders Change
+12
Holders Change %
+0.73%
% of All Funds
21.67%
Holding in Top 10
263
Holding in Top 10 Change
-7
Holding in Top 10 Change %
-2.59%
% of All Funds
3.45%
New
135
Increased
827
Reduced
508
Closed
87
Calls
$7.43M
Puts
$1.95M
Net Calls
+$5.49M
Net Calls Change
+$765K

Top Buyers

Rank Fund Capital Flow
1
Creative Planning
Creative Planning
Kansas
+$740M
2
JP Morgan Chase
JP Morgan Chase
New York
+$403M
3
Vanguard Group
Vanguard Group
Pennsylvania
+$347M
4
Bank of America
Bank of America
North Carolina
+$345M
5
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$310M

Top Sellers

Rank Fund Capital Flow
1
State Street
State Street
Massachusetts
-$248M
2
GFA
Gallagher Fiduciary Advisors
Illinois
-$215M
3
VAS
Vestmark Advisory Solutions
Massachusetts
-$108M
4
Corient Private Wealth
Corient Private Wealth
Florida
-$72.7M
5
Cerity Partners
Cerity Partners
New York
-$58.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
OC
51
Oakworth Capital
Alabama
$142M +$6.06M +82,258 +4%
OPAM
52
Ocean Park Asset Management
California
$140M +$139M +1,888,600 New
APCM
53
Alaska Permanent Capital Management
Alaska
$138M +$3.82M +51,928 +3%
CL
54
Choreo LLC
Illinois
$137M +$26.7M +363,164 +25%
Betterment LLC
55
Betterment LLC
New York
$137M -$1.32M -17,938 -1%
RWM
56
Ritholtz Wealth Management
New York
$129M +$5.51M +74,817 +5%
CFA
57
Capstone Financial Advisors
Illinois
$128M +$2.36M +32,058 +2%
PIMG
58
Patriot Investment Management Group
Tennessee
$127M +$4.67M +63,435 +4%
CAM
59
Chandler Asset Management
California
$125M +$6.7M +91,000 +6%
Wealthfront Advisers
60
Wealthfront Advisers
California
$124M +$10.8M +146,011 +10%
Commonwealth Equity Services
61
Commonwealth Equity Services
Massachusetts
$124M -$14M -190,380 -10%
VFP
62
Verus Financial Partners
Virginia
$122M +$3.92M +53,276 +3%
VAS
63
Vestmark Advisory Solutions
Massachusetts
$122M -$108M -1,472,057 -47%
AC
64
Apella Capital
Connecticut
$121M +$5.36M +72,770 +5%
DDSF
65
Diana Davis Spencer Foundation
Maryland
$120M – – –
BC
66
Bricktown Capital
Michigan
$119M +$24.8M +337,381 +27%
Mariner
67
Mariner
Kansas
$119M +$2.16M +29,373 +2%
GC
68
Garde Capital
Washington
$117M +$5.45M +74,045 +5%
BWL
69
Bogart Wealth LLC
Virginia
$116M +$3.38M +45,937 +3%
SWP
70
Stratos Wealth Partners
Ohio
$113M +$4.34M +58,975 +4%
EA
71
Efficient Advisors
Ohio
$112M +$3.56M +48,329 +3%
OWM
72
Orgel Wealth Management
Wisconsin
$111M +$1.87M +25,370 +2%
Envestnet Portfolio Solutions
73
Envestnet Portfolio Solutions
Illinois
$107M -$2.72M -37,005 -3%
ANTB
74
AMG National Trust Bank
Colorado
$106M +$2.36M +32,035 +2%
Wealth Enhancement Advisory Services
75
Wealth Enhancement Advisory Services
Minnesota
$106M -$6.73M -91,389 -6%
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BND Hedge Fund Activity: Q3 2025 in Review

1,651 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Vanguard Total Bond Market (BND) for Q3 2025, worth a combined $80.4B — up 5.5% from $76.2B a quarter earlier.

Buyers outnumbered sellers: 135 funds opened new BND positions and 87 closed out — a net gain of 48 holders — while 827 added to existing stakes and 508 trimmed.

The largest buyer was Creative Planning, adding an estimated $740M. The largest seller was State Street, cutting an estimated $248M.

  • 1,651 institutional investors held Vanguard Total Bond Market (BND) as of Q3 2025, up from 1,639 in Q2 2025.
  • Funds reported $80.4B of Vanguard Total Bond Market stock for Q3 2025, up 5.5% quarter-over-quarter.
  • 135 funds opened new Vanguard Total Bond Market positions in Q3 2025 and 87 closed out, a net change of +48 holders.
  • The largest Vanguard Total Bond Market buyer in Q3 2025 was Creative Planning, an estimated $740M added.
  • The largest Vanguard Total Bond Market seller in Q3 2025 was State Street, an estimated $248M sold.

Based on aggregated 13F filings for Q3 2025.