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Vanguard Total Bond Market
BND

1,610 hedge funds and large institutions have $74.4B invested in Vanguard Total Bond Market in 2025 Q1 according to their latest regulatory filings, with 127 funds opening new positions, 739 increasing their positions, 594 reducing their positions, and 88 closing their positions.

New
Increased
Maintained
Reduced
Closed

52% more call options, than puts

Call options by funds: $3.81M | Put options by funds: $2.51M

44% more first-time investments, than exits

New positions opened: 127 | Existing positions closed: 88

24% more repeat investments, than reductions

Existing positions increased: 739 | Existing positions reduced: 594

6% more funds holding in top 10

Funds holding in top 10: 258 → 273 (+15)

0% more funds holding

Funds holding: 1,606 → 1,610 (+4)

4% less capital invested

Capital invested by funds: $77.8B → $74.4B (-$3.45B)

3.14% less ownership

Funds ownership: 62.23% → 59.09% (-3.1%)

Holders
1,610
Holders Change
+4
Holders Change %
+0.25%
% of All Funds
21.58%
Holding in Top 10
273
Holding in Top 10 Change
+15
Holding in Top 10 Change %
+5.81%
% of All Funds
3.66%
New
127
Increased
739
Reduced
594
Closed
88
Calls
$3.81M
Puts
$2.51M
Net Calls
+$1.29M
Net Calls Change
-$3.9M

Top Buyers

Rank Fund Capital Flow
1
Mastercard Foundation Asset Management (MFAM)
Mastercard Foundation Asset Management (MFAM)
Ontario, Canada
+$643M
2
Morgan Stanley
Morgan Stanley
New York
+$629M
3
Creative Planning
Creative Planning
Kansas
+$580M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$344M
5
JP Morgan Chase
JP Morgan Chase
New York
+$300M

Top Sellers

Rank Fund Capital Flow
1
EP
Essential Planning
New Hampshire
-$3.27B
2
TTSTC
Texas Treasury Safekeeping Trust Company
Texas
-$297M
3
Bank of America
Bank of America
North Carolina
-$288M
4
MWM
Mission Wealth Management
California
-$193M
5
Osaic Holdings
Osaic Holdings
Arizona
-$129M
Name Holding Trade Value Shares
Change 		Change in
Stake
IWP
1576
IAG Wealth Partners
Wisconsin
$9.03K +$363 +5 +4%
ANBT
1577
American National Bank & Trust
Texas
$8.81K -$2.9K -40 -25%
GWMI
1578
Guardian Wealth Management (Illinois)
Illinois
$8.45K – – –
EWM
1579
Evermay Wealth Management
Virginia
$8.3K +$8.2K +113 New
AI
1580
Arvest Investments
Arkansas
$8.23K – – –
FFC
1581
First Financial Corp
Indiana
$8.08K – – –
RAM
1582
Riggs Asset Management
Pennsylvania
$8.08K – – –
MAFA
1583
MJT & Associates Financial Advisory
Minnesota
$7.86K +$7.84K +108 New
CAM
1584
Costello Asset Management
Pennsylvania
$7.34K +$7.26K +100 New
EDRH
1585
Edmond de Rothschild Holding
Switzerland
$7.27K – – –
CT
1586
Coastline Trust
Rhode Island
$7.13K – – –
WA
1587
Whipplewood Advisors
Colorado
$6.83K +$2.24M +30,925 +33,253%
MA
1588
Montag & Associates
Georgia
$6.39K – – –
EAM
1589
Eukles Asset Management
Ohio
$6.24K – – –
PCA
1590
PMV Capital Advisers
Texas
$5.88K -$19.3K -266 -77%
SHIM
1591
Stone House Investment Management
Pennsylvania
$5.21K +$5.15K +71 New
WWM
1592
Wolff Wiese Magana
California
$5K – – –
RCM
1593
Richardson Capital Management
Wisconsin
$4.72K -$1.02K -14 -18%
PPA
1594
Painted Porch Advisors
California
$4.58K – – –
LRWM
1595
Lord & Richards Wealth Management
Colorado
$4.48K +$4.43K +61 New
MHR
1596
Matthew Hamilton Rosenberg
$4.41K – – –
BWM
1597
Bernard Wealth Management
Michigan
$4.33K – – –
HIW
1598
Holos Integrated Wealth
Pennsylvania
$4.11K – – –
MHIP
1599
Mountain Hill Investment Partners
New Jersey
$3.89K – – –
BAM
1600
Byrne Asset Management
New Jersey
$3.67K – – –
62 63
64
65 66

BND Hedge Fund Activity: Q1 2025 in Review

1,610 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Vanguard Total Bond Market (BND) for Q1 2025, worth a combined $74.4B — down 4.4% from $77.8B a quarter earlier.

Buyers outnumbered sellers: 127 funds opened new BND positions and 88 closed out — a net gain of 39 holders — while 739 added to existing stakes and 594 trimmed.

The largest buyer was Mastercard Foundation Asset Management (MFAM), opening a new position worth an estimated $643M. The largest seller was Essential Planning, cutting an estimated $3.27B.

  • 1,610 institutional investors held Vanguard Total Bond Market (BND) as of Q1 2025, up from 1,606 in Q4 2024.
  • Funds reported $74.4B of Vanguard Total Bond Market stock for Q1 2025, down 4.4% quarter-over-quarter.
  • 127 funds opened new Vanguard Total Bond Market positions in Q1 2025 and 88 closed out, a net change of +39 holders.
  • The largest Vanguard Total Bond Market buyer in Q1 2025 was Mastercard Foundation Asset Management (MFAM), an estimated $643M added.
  • The largest Vanguard Total Bond Market seller in Q1 2025 was Essential Planning, an estimated $3.27B sold.

Based on aggregated 13F filings for Q1 2025.