VANGUARD HIGH DVD YIELD ETF

VYM Q1 2026 institutional ownership is a $25.0B book across 1,954 holders. Bank of America is the largest holder at $1.89B (12.8M shares, +0.7%, + $91M) -- the largest add. Morgan Stanley $1.53B (10.4M shares, +0.7%, + $69M). Wells Fargo $902M (6.1M shares, +2.0%, + $112M) -- second-largest add. JPMorgan $793M (5.5M shares, +0.4%, + $24M). Creative Planning $569M (3.8M shares, +1.4%, + $49M). UBS Group $551M (3.7M shares, +4.8%, + $138M). Envestnet $511M (3.5M shares, +0.1%, UNCHANGED). Rakuten Investment $399M (2.8M shares, +100%, + $199M) -- doubling its position (parallels SCHD pattern). Jones Financial (Edward Jones) $435M (3.0M shares, +2.4%, + $63M). Cetera Investment $400M (2.7M shares, +0.8%, + $20M). LPL Financial $1.00B (6.8M shares, -0.6%, - $22M). Raymond James $1.13B (7.6M shares, -0.3%, - $20M). Mercer Global Advisors $401M (2.7M shares, -1.0%, - $28M). Ameriprise $543M (3.7M shares, -13.9%, - $58M) -- the largest seller. VantagePoint Investment $330M (2.2M shares, -0.6%). Goldman Sachs $276M (1.9M shares, -0.2%). Stifel $204M (1.4M shares, -0.5%). OSAIC $205M (1.4M shares, -0.3%). Commonwealth Equity $354M (2.4M shares). SCS Capital $217M (1.5M shares, -0.4%). MML Investors $165M (1.1M shares, -1.0%). RBC $367M (2.5M shares, -0.4%). Northwestern Mutual $107M (not significant). Wealthfront not significant. Keystone not significant. HighTower $216M (1.5M shares, +0.5%, + $12M). Jane Street (market_maker) $189M (1.3M shares, +2.9%, + $32M). New positions: none. Sellers: Ameriprise - $58M, Raymond James - $20M, LPL - $22M, Mercer - $28M, VantagePoint - $2.1M, Stifel - $7M. Buyers: Wells Fargo + $112M, UBS Group + $138M, Rakuten + $199M, BofA + $91M, Jones Financial + $63M, Creative Planning + $49M, JPMorgan + $24M, Cetera + $20M, Kestra + $29M, HighTower + $12M, Jane Street(MM) + $32M. The 75.50 whaleScore reflects AUM. Smart-money read: lean-bullish on dividend/quality. Rakuten doubling VYM (parallels SCHD) is a strong signal that Japan-based insurers are rotating into US dividend equities broadly, not just SCHD. Wells Fargo + $112M and UBS Group + $138M are meaningful adds from active managers. The seller cohort is small: Ameriprise - $22M, Mercer - $28M. Net read: cautiously bullish on VYM -- dividend/quality factor receiving broad institutional support; Rakuten parallel with SCHD suggests a structural allocator move into US dividend yield rather than a single-ETF preference.