SEC 13F Intelligence

Managers / Q1 2020 · view latest →

Betterment LLC

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

Reported Value
$16.1B
Q1 2020
Positions
111
Filings on Record
30
2019–present window
Filed
May 14, 2020
original filing

Summary

Betterment LLC reported $16.1B in U.S.-listed holdings across 111 positions for Q1 2020.

The portfolio is heavily concentrated: VTI alone accounts for 30.0% of reported value.

Compared with Q4 2019, the fund opened 10 new positions and exited 11.

Portfolio Metrics

Turnover
+9.2%
vs prior filed quarter
Top-10 Concentration
+97.5%
share of reported value
Largest Position
+30.0%
Vanguard Index Fds
New / Exited
10 / 11
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
Q1 ’19: $16.5BQ1 ’19Q2 ’19: $17.6BQ3 ’19: $17.6BQ4 ’19: $19.4BQ1 ’20: $16.1BQ1 ’20Q2 ’20: $18.8BQ3 ’20: $20.4BQ4 ’20: $23.9BQ2 ’21: $29.4BQ2 ’21Q3 ’21: $29.9BQ4 ’21: $32.1BQ1 ’22: $31.4BQ2 ’22: $28.0BQ2 ’22Q3 ’22: $28.0BQ4 ’22: $29.2BQ1 ’23: $30.9BQ2 ’23: $32.3BQ2 ’23Q3 ’23: $31.6BQ4 ’23: $34.7BQ1 ’24: $37.3BQ2 ’24: $38.6BQ2 ’24Q3 ’24: $41.9BQ4 ’24: $41.9BQ1 ’25: $42.2BQ2 ’25: $47.0BQ2 ’25Q3 ’25: $50.6BQ4 ’25: $52.5BQ1 ’26: $52.8Bfilingsflow.com

Portfolio Composition

By security type
ETP: 100.0%
  • ETP · 100.0% · $16.1B

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JPSTJP MorganNEW+1.43M1.43M+$71M$71M
ESGDiSharesNEW+684.3K684.3K+$36M$36M
SPDR State Street Global AdvisorsNEW+210.6K210.6K+$6M$6M
IAGGISHARES TRNEW+7.2K7.2K+$392,000$392,000
IWBISHARES TRNEW+2.7K2.7K+$376,000$376,000
IWOiSharesNEW+1.8K1.8K+$284,000$284,000
ISTBISHARES TRNEW+5.0K5.0K+$250,000$250,000
PEXProSharesNEW+10.8K10.8K+$230,000$230,000

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

Holdings — Q1 2020

31 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VTIVANGUARD INDEX FDSCommon29.99%$4.8B44.86M
2SHVISHARES TRCommon21.77%$3.5B41.75M
3VEAVANGUARD TAX MANAGED INTL FDhistory →Common14.77%$2.4B71.35M
4VWOVANGUARD INTL EQUITY INDEX FCommon9.50%$1.5B45.62M
5SCHFSCHWAB STRATEGIC TRCommon7.76%$1.3B37.51M
6BNDXVANGUARD CHARLOTTE FDShistory →Common6.40%$1.0B18.32M
7IEMGISHARES INCCommon3.10%$500M10.73M
8VTIPVANGUARD MALVERN FDShistory →Common1.81%$292M5.99M
9TFISPDR SERIES TRUSTCommon1.26%$202M4.05M
10BNDVANGUARD BD INDEX FD INCCommon1.16%$187M2.22M
11GSLCGoldman SachsCommon0.73%$117M3.00M
12VWOBVANGUARD WHITEHALL FDS INCCommon0.69%$111M1.58M
13JPSTJP Morganhistory →Common0.44%$71M1.43M
14SPDR State Street Global AdvisorsCommon0.24%$39M1.21M
15GMOMCAMBRIA ETF TRCommon0.16%$26M1.26M
16VCITVANGUARD SCOTTSDALE FDSCommon0.07%$11M123.7K
17PCYInvescoCommon0.05%$8M378.0K
18VOTVanguardCommon0.03%$4M32.7K
19WTMFWISDOMTREE TRCommon0.02%$4M105.9K
20EMLPFIRST TR EXCHANGE TRADED FDCommon0.01%$2M98.1K
21INDEXIQ ETF TRCommon0.01%$950,00033.4K
22XTRACKERSCommon0.01%$850,00019.3K
23COMBGraniteSharesCommon0.00%$721,00038.9K
24SPYSPDR SP 500 ETF TRCommon0.00%$493,0001.9K
25VXUSVANGUARD STAR FDCommon0.00%$453,00010.8K
26EMLCVANECK VECTORS TRCommon0.00%$441,00015.5K
27HYDMARKET VECTORS ETF TRCommon0.00%$429,0008.2K
28ETFS GOLD TRCommon0.00%$409,00027.0K
29VIOOVANGUARD ADMIRAL FDS INCCommon0.00%$377,0003.7K
30DBX ETF TRCommon0.00%$283,00010.9K
31PEXProSharesCommon0.00%$230,00010.8K

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 ↗

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 ↗.