SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Betterment LLC

CIK 0001633901 · 450 WEST 33RD STREET, FL 11, NEW YORK, NY, 10001 · 212-228-1328

Reported Value
$19.4B
Q4 2019
Positions
112
Filings on Record
30
2019–present window
Filed
Jan 31, 2020
original filing

Summary

Betterment LLC reported $19.4B in U.S.-listed holdings across 112 positions for Q4 2019.

The portfolio is heavily concentrated: VTI alone accounts for 37.2% of reported value.

Compared with Q3 2019, the fund opened 3 new positions and exited 2.

Portfolio Metrics

Turnover
+2.7%
vs prior filed quarter
Top-10 Concentration
+98.1%
share of reported value
Largest Position
+37.2%
Vanguard Index Fds
New / Exited
3 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $14.2BQ4 ’18Q1 ’19: $16.5BQ2 ’19: $17.6BQ3 ’19: $17.6BQ4 ’19: $19.4BQ4 ’19Q1 ’20: $16.1BQ2 ’20: $18.8BQ3 ’20: $20.4BQ4 ’20: $23.9BQ4 ’20Q2 ’21: $29.4BQ3 ’21: $29.9BQ4 ’21: $32.1BQ1 ’22: $31.4BQ1 ’22Q2 ’22: $28.0BQ3 ’22: $28.0BQ4 ’22: $29.2BQ1 ’23: $30.9BQ1 ’23Q2 ’23: $32.3BQ3 ’23: $31.6BQ4 ’23: $34.7BQ1 ’24: $37.3BQ1 ’24Q2 ’24: $38.6BQ3 ’24: $41.9BQ4 ’24: $41.9BQ1 ’25: $42.2BQ1 ’25Q2 ’25: $47.0BQ3 ’25: $50.6BQ4 ’25: $52.5BQ1 ’26: $52.8BQ1 ’26filingsflow.com

Portfolio Composition

By security type
ETP: 100.0%
  • ETP · 100.0% · $19.4B

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TLTISHARES TRNEW+6.4K6.4K+$861,000$861,000
PFFISHARES TRNEW+6.1K6.1K+$230,000$230,000
VIOOVANGUARD ADMIRAL FDS INCNEW+1.5K1.5K+$224,000$224,000
ETFS GOLD TRADDED+50.1K56.3K−$21,000$823,000
GTIPGoldman SachsADDED+19.5K28.0K+$1M$1M
ITOTISHARES TRADDED+526.6K907.0K+$41M$66M
GIGBGoldman SachsADDED+105.5K198.4K+$6M$10M
COMBGraniteShares Bloomberg Commodity Broad StrategADDED+11.4K21.6K+$280,000$524,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

30 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VTIVANGUARD INDEX FDSCommon37.22%$7.2B49.67M
2VEAVANGUARD TAX MANAGED INTL FDhistory →Common17.69%$3.4B77.70M
3MUBISHARES TRCommon14.52%$2.8B25.51M
4VWOVANGUARD INTL EQUITY INDEX FCommon10.46%$2.0B45.52M
5SCHFSCHWAB STRATEGIC TRCommon6.14%$1.2B25.60M
6BNDXVANGUARD CHARLOTTE FDShistory →Common5.98%$1.2B20.47M
7IEMGISHARES INCCommon2.51%$486M8.45M
8VTIPVANGUARD MALVERN FDShistory →Common1.70%$329M6.67M
9BNDVANGUARD BD INDEX FD INCCommon1.07%$208M2.50M
10TFISPDR SERIES TRUSTCommon0.84%$163M3.22M
11GSLCGoldman SachsCommon0.81%$156M3.15M
12VWOBVANGUARD WHITEHALL FDS INCCommon0.59%$114M1.40M
13GMOMCAMBRIA ETF TRCommon0.18%$35M1.38M
14VCITVANGUARD SCOTTSDALE FDSCommon0.07%$14M148.1K
15XLRESPDR State Street Global AdvisorsCommon0.07%$13M318.7K
16WTMFWISDOMTREE TRCommon0.03%$5M130.2K
17VOTVanguardCommon0.03%$5M29.9K
18PCYInvescoCommon0.02%$4M202.9K
19EMLPFIRST TR EXCHANGE TRADED FDCommon0.02%$3M122.5K
20XTRACKERSCommon0.01%$1M22.8K
21VXUSVANGUARD STAR FDCommon0.01%$1M19.5K
22INDEXIQ ETF TRCommon0.01%$1M34.3K
23EMLCVANECK VECTORS TRCommon0.00%$858,00025.2K
24ETFS GOLD TRCommon0.00%$823,00056.3K
25SPYSPDR SP 500 ETF TRCommon0.00%$672,0002.1K
26COMBGraniteShares Bloomberg Commodity Broad StrategCommon0.00%$524,00021.6K
27HYDMARKET VECTORS ETF TRCommon0.00%$481,0007.5K
28VIGVANGUARD SPECIALIZED PORTFOLCommon0.00%$347,0002.8K
29DBX ETF TRCommon0.00%$326,00011.0K
30VIOOVANGUARD ADMIRAL FDS INCCommon0.00%$224,0001.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$52.8B615May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$52.5B551Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$50.6B522Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$47.0B497Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$42.2B458May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$41.9B444Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$41.9B421Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$38.6B392Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$37.3B352May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$34.7B313Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$31.6B296Nov 9, 202313F-HRchanges · EDGAR ↗
Q2 2023$32.3B281Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$30.9B265May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$29.2B252Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$28.0B223Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$28.0B223Aug 10, 202213F-HRchanges · EDGAR ↗
Q1 2022$31.4B224May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$32.1B202Feb 15, 202213F-HRchanges · EDGAR ↗
Q3 2021$29.9B184Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$29.4B163Aug 10, 202113F-HRchanges · EDGAR ↗
Q4 2020$23.9B125Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$20.4B112Nov 10, 202013F-HRchanges · EDGAR ↗
Q2 2020$18.8B115Aug 11, 202013F-HRchanges · EDGAR ↗
Q1 2020$16.1B111May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$19.4B112Jan 31, 202013F-HRchanges · EDGAR ↗
Q3 2019$17.6B111Nov 7, 201913F-HRchanges · EDGAR ↗
Q2 2019$17.6B111Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$16.5B109Apr 11, 201913F-HRchanges · EDGAR ↗
Q4 2018$14.2B104Feb 6, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.