Vanguard Total Bond Market
BND
1,798 hedge funds and large institutions have $84B invested in Vanguard Total Bond Market in 2025 Q4 according to their latest regulatory filings, with 276 funds opening new positions, 880 increasing their positions, 485 reducing their positions, and 95 closing their positions.
310% more call options, than puts
Call options by funds: $3.72M | Put options by funds: $907K
191% more first-time investments, than exits
New positions opened: 276 | Existing positions closed: 95
81% more repeat investments, than reductions
Existing positions increased: 880 | Existing positions reduced: 485
9% more funds holding in top 10
Funds holding in top 10: 264 → 288 (+24)
9% more funds holding
Funds holding: 1,656 → 1,798 (+142)
4% more capital invested
Capital invested by funds: $80.5B → $84B (+$3.49B)
0.34% less ownership
Funds ownership: 59.63% → 59.28% (-0.34%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$1.21B |
| 2 |
JP Morgan Chase
New York
|
+$616M |
| 3 |
Vanguard Group
Malvern,
Pennsylvania
|
+$520M |
| 4 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
+$319M |
| 5 |
Corient Private Wealth
Miami,
Florida
|
+$103M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Creative Planning
Overland Park,
Kansas
|
-$533M |
| 2 |
GC
Garde Capital
Seattle,
Washington
|
-$117M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$110M |
| 4 |
AIM
Acropolis Investment Management
St. Louis,
Missouri
|
-$88.8M |
| 5 |
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
|
-$52.4M |
BND Hedge Fund Activity: Q4 2025 in Review
1,798 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in Vanguard Total Bond Market (BND) for Q4 2025, worth a combined $84B — up 4.3% from $80.5B a quarter earlier.
Buyers outnumbered sellers: 276 funds opened new BND positions and 95 closed out — a net gain of 181 holders — while 880 added to existing stakes and 485 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $1.21B. The largest seller was Creative Planning, cutting an estimated $533M.
- 1,798 institutional investors held Vanguard Total Bond Market (BND) as of Q4 2025, up from 1,656 in Q3 2025.
- Funds reported $84B of Vanguard Total Bond Market stock for Q4 2025, up 4.3% quarter-over-quarter.
- 276 funds opened new Vanguard Total Bond Market positions in Q4 2025 and 95 closed out, a net change of +181 holders.
- The largest Vanguard Total Bond Market buyer in Q4 2025 was Morgan Stanley, an estimated $1.21B added.
- The largest Vanguard Total Bond Market seller in Q4 2025 was Creative Planning, an estimated $533M sold.
Based on aggregated 13F filings for Q4 2025.