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Vanguard Total Bond Market
BND

1,640 hedge funds and large institutions have $76.2B invested in Vanguard Total Bond Market in 2025 Q2 according to their latest regulatory filings, with 143 funds opening new positions, 723 increasing their positions, 623 reducing their positions, and 88 closing their positions.

New
Increased
Maintained
Reduced
Closed

312% more call options, than puts

Call options by funds: $6.24M | Put options by funds: $1.51M

63% more first-time investments, than exits

New positions opened: 143 | Existing positions closed: 88

16% more repeat investments, than reductions

Existing positions increased: 723 | Existing positions reduced: 623

2% more funds holding

Funds holding: 1,610 → 1,640 (+30)

1.16% more ownership

Funds ownership: 59.09% → 60.25% (+1.2%)

2% more capital invested

Capital invested by funds: $74.4B → $76.2B (+$1.85B)

1% less funds holding in top 10

Funds holding in top 10: 273 → 271 (-2)

Holders
1,640
Holders Change
+30
Holders Change %
+1.86%
% of All Funds
21.59%
Holding in Top 10
271
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-0.73%
% of All Funds
3.57%
New
143
Increased
723
Reduced
623
Closed
88
Calls
$6.24M
Puts
$1.51M
Net Calls
+$4.72M
Net Calls Change
+$3.42M

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$1.65B
2
Creative Planning
Creative Planning
Kansas
+$461M
3
SEI Investments
SEI Investments
Pennsylvania
+$362M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$321M
5
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$253M

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$1.51B
2
TTSTC
Texas Treasury Safekeeping Trust Company
Texas
-$553M
3
RA
RFG Advisory
Alabama
-$154M
4
Ameriprise
Ameriprise
Minnesota
-$97.7M
5
Jane Street
Jane Street
New York
-$83M
Name Holding Trade Value Shares
Change 		Change in
Stake
AFG
151
Atomi Financial Group
New York
$37.9M +$7.05M +96,958 +23%
JAG
152
Journey Advisory Group
Kentucky
$37.9M +$2.16M +29,642 +6%
GWWM
153
Great Waters Wealth Management
Minnesota
$37.8M -$2.58M -35,488 -6%
TCM
154
TD Capital Management
Tennessee
$37.1M +$632K +8,687 +2%
SCM
155
Stordahl Capital Management
Colorado
$36.7M +$465K +6,391 +1%
DADC
156
D.A. Davidson & Co
Montana
$36.5M +$1.28M +17,555 +4%
DAS
157
Dynamic Advisor Solutions
Arizona
$35.9M -$1.86M -25,621 -5%
CST
158
Charles Schwab Trust
Nevada
$35.8M +$119K +1,634 +0.3%
ASW
159
Astoria Strategic Wealth
Texas
$35.5M +$2.25M +30,938 +7%
SFP
160
Sherwood Financial Partners
California
$35M +$847K +11,652 +3%
FMP
161
Financial Management Professionals
Texas
$34.8M -$3.78M -52,012 -10%
P
162
&Partners
Tennessee
$34.6M -$2.81M -38,593 -8%
Allspring Global Investments
163
Allspring Global Investments
North Carolina
$34.5M +$1.53M +20,982 +5%
Fidelity Investments
164
Fidelity Investments
Massachusetts
$34.3M -$523K -7,196 -2%
RBC
165
Roble Belko & Company
Pennsylvania
$34M -$4.46M -61,292 -12%
MWM
166
Meridian Wealth Management
Kentucky
$34M +$1.81M +24,919 +6%
MPW
167
MA Private Wealth
California
$34M -$33.5M -460,432 -50%
AWM
168
Avior Wealth Management
Nebraska
$33.1M -$2.52M -34,675 -7%
TFA
169
Transamerica Financial Advisors
Florida
$32.9M -$296K -4,074 -0.9%
MNA
170
Manning & Napier Advisors
New York
$32.8M +$94.8K +1,303 +0.3%
IFA
171
Index Fund Advisors
California
$32.8M +$51.5K +708 +0.2%
Victory Capital Management
172
Victory Capital Management
Texas
$32.4M +$6.73M +92,522 +27%
HI
173
Harbour Investments
Wisconsin
$32.2M +$358K +4,926 +1%
SCM
174
Steele Capital Management
Iowa
$32.1M +$99.1K +1,363 +0.3%
EPM
175
Elm Partners Management
Pennsylvania
$31.9M -$13.7M -188,898 -30%
5 6
7
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BND Hedge Fund Activity: Q2 2025 in Review

1,640 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Vanguard Total Bond Market (BND) for Q2 2025, worth a combined $76.2B — up 2.5% from $74.4B a quarter earlier.

Buyers outnumbered sellers: 143 funds opened new BND positions and 88 closed out — a net gain of 55 holders — while 723 added to existing stakes and 623 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $1.65B. The largest seller was Morgan Stanley, cutting an estimated $1.51B.

  • 1,640 institutional investors held Vanguard Total Bond Market (BND) as of Q2 2025, up from 1,610 in Q1 2025.
  • Funds reported $76.2B of Vanguard Total Bond Market stock for Q2 2025, up 2.5% quarter-over-quarter.
  • 143 funds opened new Vanguard Total Bond Market positions in Q2 2025 and 88 closed out, a net change of +55 holders.
  • The largest Vanguard Total Bond Market buyer in Q2 2025 was JP Morgan Chase, an estimated $1.65B added.
  • The largest Vanguard Total Bond Market seller in Q2 2025 was Morgan Stanley, an estimated $1.51B sold.

Based on aggregated 13F filings for Q2 2025.