Warwick Loads Up On the Vanguard Total Corporate Bond ETF (VTC) With 86,000 Shares in Q3 Buy
Key Points
Warwick Investment Management, Inc. added 85,836 shares of the Vanguard Total Corporate Bond ETF in an estimated $6.65 million transaction based on the quarterly average price for Q3 2025.
This transaction represents 1.15% of 13F reportable assets under management as of Q3 2025.
Post-trade, the stake stands at 90,685 shares, valued at $7.11 million, as of Q3 2025.
The position accounts for 1.23% of the fund's AUM as of Q3 2025, which places it outside the fund's top five holdings.
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Warwick Investment Management, Inc. disclosed a buy of 85,836 shares of the Vanguard Total Corporate Bond ETF in an estimated $6.65 million transaction.
What happened
According to an SEC filing dated October 24, 2025, Warwick Investment Management Inc. acquired 85,836 additional shares of Vanguard Scottsdale Funds - Vanguard Total Corporate Bond ETF (NASDAQ:VTC) during Q3 2025. This raised its stake to 90,685 shares, and the estimated transaction size was $6.65 million. The post-transaction position was valued at $7.11 million.
What else to know
Warwick increased its VTC stake, which now represents 1.23% of its $576.11 million in reportable U.S. equity assets as of Q3 2025. Post-trade, VTC is placed outside of the fund's top five holdings.
Top holdings after the filing:
- UNK:SCHK: $112.40 million (19.5% of AUM) as of September 30, 2025
- UNK:DFAC: $94.27 million (16.4% of AUM) as of September 30, 2025
- UNK:VTV: $49.13 million (8.5% of AUM) as of September 30, 2025
- NASDAQ:QQQ: $22.30 million (3.9% of AUM) as of September 30, 2025
- UNK:XLRE: $19.02 million (3.3% of AUM) as of September 30, 2025
As of October 23, 2025, shares were priced at $78.95, up 2.3% over the year ending October 23, 2025 and underperforming the S&P 500 by 8.13 percentage points for the same period.
The ETF reported a trailing 12-month dividend yield of 4.64% as of October 24, 2025, and shares were 0.09% below their 52-week high on October 23, 2025.
ETF overview
| Metric | Value |
|---|---|
| AUM | $1.31 billion |
| Dividend yield | 4.64% |
| Price (as of market close 2025-10-23) | $78.95 |
| 1-year total return | 2.33% |
ETF snapshot
Investment strategy: The Vanguard Total Corporate Bond ETF seeks to track the performance of the Bloomberg U.S. Corporate Bond Index using an indexing approach and a fund-of-funds structure.
Underlying holdings: The fund comprises U.S. dollar-denominated, investment-grade corporate bonds issued by industrial, utility, and financial companies.
Expense ratio and structure: The ETF operates with a diversified portfolio, offering investors broad exposure to the U.S. corporate bond market. It has an expense ratio of 0.03%.
The Vanguard Total Corporate Bond ETF provides investors with diversified access to the U.S. investment-grade corporate bond market through a passively managed, index-tracking strategy.
By focusing on high-quality, fixed-rate bonds across multiple sectors, the ETF seeks to provide stable income.
Foolish take
Warwick Investment Management, Inc. substantially increased its stake in the Vanguard Total Corporate Bond ETF, jumping from 4,849 shares in Q2 to 90,685 shares in Q3.
Investing more heavily in bonds can sometimes suggest that confidence in the market is slipping, but it can also be a way to balance risk. Warwick's top five holdings are heavily focused on equities, with some -- particularly QQQ and SCHK -- weighted more significantly toward the technology industry.
Bond ETFs can help mitigate some of the risks of equities while also providing dividend income, and institutional buys like this can be a reminder for everyday investors of the importance of maintaining a diversified portfolio.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC if above a certain threshold.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding assets like stocks or bonds.
Fund-of-funds structure: An investment approach where a fund invests in other funds rather than directly in securities.
Indexing approach: A strategy aiming to replicate the performance of a specific market index by holding similar securities.
Investment-grade: Bonds rated as relatively low risk of default by credit rating agencies, typically BBB- or higher.
Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.
Trailing twelve-month (TTM) dividend yield: Dividend yield calculated using dividends paid over the past twelve months.
Expense ratio: The annual fee, as a percentage of assets, that a fund charges to manage investors' money.
Corporate bond: A debt security issued by a corporation to raise capital, typically paying fixed interest to investors.
Reportable U.S. equity assets: U.S. stock holdings that investment managers must disclose in regulatory filings.
Top holdings: The largest individual investments within a fund's portfolio, often representing significant portions of its assets.
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Katie Brockman has positions in Vanguard Index Funds - Vanguard Value ETF. The Motley Fool has positions in and recommends Vanguard Index Funds - Vanguard Value ETF. The Motley Fool has a disclosure policy.
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