DaveManuel.com · Institutional Ownership · Who Owns It
VANGUARD MUN BD FDS (VSDM)
Institutional ownership reported to the SEC as of Q2 2026, across 8 quarters.
124
Reporting holders
$283.0M
Reported value
0.0%
Calls
0.0%
Puts
+24
Holder change
Calls and puts are the parts of reported value carried in derivative lines rather than shares, and they point in opposite directions: a manager holding calls is positioned for the security, one holding puts against it - or hedging shares they already own, which is why index funds carry so many. Most sites add the two together and report one figure, which averages away the only interesting part.
Holders
| Filer | Value | Shares | Their book | Held | Change |
|---|---|---|---|---|---|
| Capital Investment Services of America, Inc. | $21.5M | 280,929 | 2.11% | 7q | +9.7%+$1.9M |
| TRUIST FINANCIAL CORP | $19.2M | 251,105 | 0.02% | 3q | +66.6%+$7.7M |
| Mills Wealth Advisors LLC | $12.6M | 164,926 | 3.98% | 7q | -3.0%-$389.7K |
| S.A. Mason LLC | $12.6M | 163,888 | 3.86% | 3q | +37.7%+$3.4M |
| Opus Capital Group, LLC | $11.4M | 148,913 | 1.11% | 6q | +10.8%+$1.1M |
| Keystone Financial Group, Inc. | $10.9M | 142,196 | 5.72% | 5q | +26.8%+$2.3M |
| Kestra Investment Management, LLC | $10.7M | 139,319 | 0.21% | new | NEW |
| American Investment Services, Inc. | $9.9M | 128,709 | 2.08% | 3q | +10.5%+$938.3K |
| MOSAIC FAMILY WEALTH PARTNERS, LLC | $9.7M | 126,587 | 0.65% | 3q | +116.0%+$5.2M |
| CGN Advisors LLC | $9.5M | 124,154 | 0.69% | 5q | +19.2%+$1.5M |
| Quantinno Capital Management LP | $7.5M | 98,000 | 0.01% | new | NEW |
| Frisch Financial Group, Inc. | $7.5M | 98,000 | 1.29% | new | NEW |
| Acumen Wealth Advisors, LLC | $6.3M | 82,467 | 1.34% | 3q | +645.4%+$5.5M |
| Beaird Harris Wealth Management, LLC | $5.7M | 74,692 | 0.36% | 2q | +191.3%+$3.8M |
| RW Investment Management LLC | $5.4M | 70,309 | 0.47% | 2q | +40.7%+$1.6M |
| IRON Financial LLC | $5.0M | 65,840 | 2.08% | 2q | +45.5%+$1.6M |
| COMMONWEALTH EQUITY SERVICES, LLC | $5.0M | 65,487 | 0.01% | 6q | +71.4%+$2.1M |
| MASTER'S WEALTH MANAGEMENT INC. | $4.7M | 61,689 | 1.42% | 3q | +17.0%+$688.0K |
| Rialto Wealth Management, LLC | $4.7M | 61,252 | 0.93% | 4q | +67.4%+$1.9M |
| JONES FINANCIAL COMPANIES LLLP | $3.9M | 50,496 | 0.00% | 3q | +96.4%+$1.9M |
| Belpointe Asset Management LLC | $3.9M | 50,421 | 0.13% | 2q | +24.1%+$751.0K |
| Alliance Private Wealth, LLC | $3.5M | 45,501 | 1.21% | 3q | -17.2%-$723.1K |
| TD Capital Management LLC | $3.3M | 43,473 | 0.27% | new | NEW |
| Bank of New York Mellon Corp | $3.2M | 41,724 | 0.00% | 2q | -2.4%-$78.5K |
| Topsail Wealth Management, LLC | $3.1M | 40,843 | 0.40% | 4q | +26.6%+$657.6K |
| GSG Advisors LLC | $3.0M | 39,200 | 0.66% | new | NEW |
| Professional Financial Advisors, LLC | $2.9M | 38,255 | 0.51% | 2q | +17.5%+$436.0K |
| Timmons Wealth Management, LLC | $2.9M | 37,636 | 2.11% | 3q | +389.9%+$2.3M |
| LPL Financial LLC | $2.9M | 37,512 | 0.00% | 3q | +82.5%+$1.3M |
| Platt Wealth Management LLC | $2.8M | 36,742 | 2.26% | 3q | +36.3%+$749.5K |
| Dakota Wealth Management | $2.7M | 35,875 | 0.05% | 3q | +9.8%+$245.3K |
| GREAT VALLEY ADVISOR GROUP, INC. | $2.5M | 32,858 | 0.04% | 2q | +243.9%+$1.8M |
| Bedel Financial Consulting, Inc. | $2.3M | 30,560 | 0.22% | new | NEW |
| JPMORGAN CHASE & CO | $2.2M | 28,573 | 0.00% | 4q | +28473.0%+$2.2M |
| Aprio Wealth Management, LLC | $2.1M | 27,970 | 0.11% | 3q | +3.8%+$78.5K |
| MBM WEALTH CONSULTANTS, LLC | $2.1M | 27,594 | 0.41% | new | NEW |
| Harbor Group, Inc. | $2.0M | 25,899 | 0.23% | 5q | -17.7%-$426.0K |
| Stonebridge Financial Group, LLC | $1.8M | 23,716 | 0.14% | 3q | +59.9%+$681.1K |
| Verum Partners LLC | $1.8M | 23,102 | 0.26% | 5q | +7.4%+$122.7K |
| Burton Enright Welch | $1.6M | 21,387 | 0.19% | 5q | +38.0%+$451.5K |
| Karpus Management, Inc. | $1.6M | 21,000 | 0.05% | new | NEW |
| BOSTON FAMILY OFFICE LLC | $1.6M | 20,487 | 0.10% | 4q | +34.5%+$402.5K |
| Financial Engines Advisors L.L.C. | $1.5M | 19,906 | 0.00% | 5q | +5.8%+$83.4K |
| HighTower Advisors, LLC | $1.5M | 18,959 | 0.00% | new | NEW |
| CRA Financial Services, LLC | $1.4M | 17,988 | 0.16% | 7q | -1.8%-$25.7K |
| Essex Financial Services, Inc. | $1.4M | 17,622 | 0.07% | 6q | +18.9%+$214.2K |
| Pandowealth. LLC | $1.3M | 16,754 | 1.06% | 2q | +84.0%+$586.2K |
| Baker Ellis Asset Management LLC | $1.3M | 16,400 | 0.13% | 7q | +6.5%+$76.6K |
| Integrated Wealth Concepts LLC | $1.2M | 16,016 | 0.01% | 2q | +83.8%+$559.5K |
| NEUBERGER BERMAN GROUP LLC | $1.2M | 15,910 | 0.00% | 2q | HELD |
| TCI Wealth Advisors, Inc. | $1.2M | 15,420 | 0.05% | new | NEW |
| &PARTNERS | $1.1M | 14,377 | 0.00% | 2q | +30.7%+$258.8K |
| MFA Wealth Services | $1.1M | 14,082 | 0.64% | 7q | -5.9%-$67.6K |
| NATIXIS ADVISORS, LLC | $1.0M | 13,198 | 0.00% | new | NEW |
| Wedmont Private Capital | $1.0M | 13,156 | 0.03% | new | NEW |
| Composition Wealth, LLC | $1.0M | 13,106 | 0.01% | new | NEW |
| JANE STREET GROUP, LLC | $888.8K | 11,599 | 0.00% | 7q | +52.8%+$307.1K |
| Signal Advisors Wealth, LLC | $855.6K | 11,165 | 0.04% | 2q | HELD |
| Kelman-Lazarov, Inc. | $810.0K | 10,570 | 0.11% | 6q | HELD |
| PARSONS CAPITAL MANAGEMENT INC/RI | $786.4K | 10,262 | 0.04% | new | NEW |
| Quantum Financial Planning Services, Inc. | $782.4K | 10,211 | 0.24% | 3q | +35.2%+$203.8K |
| Cascade Wealth Advisors, Inc | $772.3K | 10,140 | 0.31% | new | NEW |
| PEAPACK GLADSTONE FINANCIAL CORP | $743.0K | 9,700 | 0.01% | 3q | HELD |
| Prospera Capital Management, LLC | $714.6K | 9,342 | 0.22% | 5q | HELD |
| VSM Wealth Advisory, LLC | $708.0K | 6,989 | 0.19% | new | NEW |
| Breakwater Capital Group | $679.2K | 8,864 | 0.08% | 6q | -41.0%-$472.3K |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $657.5K | 8,608 | 0.00% | new | NEW |
| CFS Investment Advisory Services, LLC | $647.1K | 8,463 | 0.04% | 2q | +171.4%+$408.7K |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $643.4K | 8,396 | 0.00% | 3q | +78.1%+$282.2K |
| New England Private Wealth Advisors LLC | $637.4K | 8,393 | 0.06% | 3q | HELD |
| Donalies Financial Planning, LLC | $637.1K | 8,314 | 0.47% | new | NEW |
| Equitable Holdings, Inc. | $558.2K | 7,285 | 0.00% | 2q | HELD |
| Bryn Mawr Trust Advisors, LLC | $553.4K | 7,222 | 0.02% | 3q | +29.7%+$126.7K |
| Janney Montgomery Scott LLC | $536.0K | 7,000 | 0.00% | 2q | HELD |
| Gutierrez Wealth Advisory, LLC | $512.2K | 6,684 | 0.30% | 5q | HELD |
| Conservest Capital Advisors, Inc. | $504.8K | 6,588 | 0.04% | 6q | +80.2%+$224.8K |
| Forum Financial Management, LP | $503.2K | 6,567 | 0.01% | new | NEW |
| Corient Private Wealth LP | $500.9K | 6,537 | 0.00% | 4q | -9.8%-$54.4K |
| L. Roy Papp & Associates, LLP | $499.6K | 6,520 | 0.05% | 2q | HELD |
| OakTrust Wealth Advisors, LLC | $498.8K | 6,509 | 0.43% | new | NEW |
| Cambridge Investment Research Advisors, Inc. | $498.0K | 6,494 | 0.00% | 2q | +127.9%+$279.5K |
| Soltis Investment Advisors LLC | $488.2K | 6,371 | 0.03% | 3q | -9.3%-$50.2K |
| PENNSYLVANIA CAPITAL MANAGEMENT INC /ADV | $466.8K | 6,092 | 0.12% | new | NEW |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC | $462.0K | 6,030 | 0.02% | 4q | +77.4%+$201.5K |
| Waverly Advisors, LLC | $448.3K | 5,850 | 0.00% | 3q | HELD |
| EverSource Wealth Advisors, LLC | $438.5K | 5,722 | 0.01% | 2q | +264.0%+$318.0K |
| N.E.W. Advisory Services LLC | $419.1K | 5,470 | 0.03% | 5q | +0.8%+$3.2K |
| Sugar Maple Asset Management, LLC | $411.3K | 5,367 | 0.27% | 3q | +0.8%+$3.1K |
| Betterment LLC | $393.0K | 5,125 | 0.00% | new | NEW |
| Worth Asset Management, LLC | $353.6K | 4,614 | 0.11% | new | NEW |
| Strategic Financial Concepts, LLC | $351.5K | 4,587 | 0.10% | new | NEW |
| Financial Planning Hawaii, Inc. | $348.0K | 4,541 | 0.19% | 3q | HELD |
| Ascent Group, LLC | $315.9K | 4,122 | 0.01% | 3q | HELD |
| Stratos Wealth Partners, LTD. | $309.2K | 4,034 | 0.00% | 2q | +0.8%+$2.4K |
| Kestra Advisory Services, LLC | $301.3K | 3,932 | 0.00% | 4q | +15.5%+$40.5K |
| Advyzon Investment Management, LLC | $292.3K | 3,815 | 0.02% | 5q | -0.7%-$2.1K |
| Cherry Tree Wealth Management, LLC | $277.5K | 3,621 | 0.05% | 2q | HELD |
| Beacon Pointe Advisors, LLC | $275.9K | 3,600 | 0.00% | 4q | -26.5%-$99.6K |
| Foundry Financial LLC | $236.2K | 3,082 | 0.08% | 2q | HELD |
| TAGStone Capital, Inc. | $234.9K | 3,066 | 0.07% | new | NEW |
Showing the largest 100 of 124 reported holders.
Quarter by quarter
Coverage begins with the quarter ending 2018-12-31. Earlier filings exist only as occasional late amendments, too sparse to describe a market, so they are not shown.
| Quarter | Holders | Value | Shares | New | Added | Trimmed | Options |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 59 | $110.4M | 1,483,447 | 20 | 24 | 8 | 0.0% |
| Q2 2026 | 124 | $283.0M | 3,690,559 | 34 | 56 | 11 | 0.0% |
| Q1 2026 | 100 | $178.7M | 2,340,348 | 30 | 45 | 9 | 0.0% |
| Q4 2025 | 75 | $119.0M | 1,556,151 | 28 | 26 | 5 | 0.0% |
| Q3 2025 | 48 | $85.7M | 1,117,225 | 17 | 22 | 4 | 0.0% |
| Q2 2025 | 32 | $55.0M | 726,898 | 17 | 9 | 5 | 0.0% |
| Q1 2025 | 16 | $29.7M | 394,314 | 9 | 6 | 1 | 0.0% |
| Q4 2024 | 9 | $35.9M | 479,382 | 8 | 0 | 0 | 0.0% |