SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Betterment LLC

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

Reported Value
$23.9B
Q4 2020
Positions
125
Filings on Record
29
2019–present window
Filed
Feb 12, 2021
original filing

Summary

Betterment LLC reported $23.9B in U.S.-listed holdings across 125 positions for Q4 2020.

The portfolio is heavily concentrated: VTI alone accounts for 34.2% of reported value.

Compared with Q3 2020, the fund opened 15 new positions and exited 2.

Portfolio Metrics

Turnover
+0.5%
vs prior filed quarter
Top-10 Concentration
+97.6%
share of reported value
Largest Position
+34.2%
Vanguard Index Fds
New / Exited
15 / 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
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% · $23.9B

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
iSharesNEW+326.1K326.1K+$49M$49M
SPDR State Street Global AdvisorsNEW+236.2K236.2K+$22M$22M
BGRNiSharesNEW+227.2K227.2K+$13M$13M
EFAXSPDR State Street Global AdvisorsNEW+112.6K112.6K+$9M$9M
SPDR State Street Global AdvisorsNEW+70.3K70.3K+$5M$5M
EAGGiSharesNEW+58.2K58.2K+$3M$3M
SHYGiSharesNEW+65.4K65.4K+$3M$3M
GCORGoldman SachsNEW+30.2K30.2K+$2M$2M

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

Holdings — Q4 2020

32 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VTIVANGUARD INDEX FDSCommon34.24%$8.2B51.63M
2SHVISHARES TRCommon20.37%$4.9B47.64M
3VEAVANGUARD TAX MANAGED INTL FDhistory →Common14.67%$3.5B74.14M
4VWOVANGUARD INTL EQUITY INDEX FCommon10.23%$2.4B48.72M
5BNDXVANGUARD CHARLOTTE FDShistory →Common5.78%$1.4B23.56M
6SCHFSCHWAB STRATEGIC TRCommon5.51%$1.3B27.94M
7IEMGISHARES INCCommon3.30%$788M11.88M
8VTIPVANGUARD MALVERN FDShistory →Common1.60%$382M7.48M
9GSLCGoldman SachsCommon1.02%$244M4.52M
10TFISPDR SERIES TRUSThistory →Common0.86%$205M3.90M
11BNDVANGUARD BD INDEX FD INCCommon0.80%$191M2.21M
12JPSTJP Morganhistory →Common0.68%$161M3.18M
13VWOBVANGUARD WHITEHALL FDS INCCommon0.36%$86M1.04M
14EFAXSPDR State Street Global AdvisorsCommon0.30%$72M1.20M
15GMOMCAMBRIA ETF TRCommon0.12%$28M1.08M
16VCLTVANGUARD SCOTTSDALE FDSCommon0.05%$12M110.8K
17VOTVanguardCommon0.03%$7M33.7K
18PCYInvescoCommon0.02%$5M213.6K
19WTMFWISDOMTREE TRCommon0.02%$4M101.6K
20EMLPFIRST TR EXCHANGE TRADED FDCommon0.01%$2M87.0K
21XTRACKERSCommon0.01%$2M31.0K
22INDEXIQ ETF TRCommon0.01%$1M37.4K
23Impact SharesCommon0.00%$1M36.0K
24COMBGraniteSharesCommon0.00%$873,00037.1K
25SPYSPDR SP 500 ETF TRCommon0.00%$798,0002.1K
26VXUSVANGUARD STAR FDCommon0.00%$709,00011.8K
27HYDMARKET VECTORS ETF TRCommon0.00%$553,0009.0K
28ETFS GOLD TRCommon0.00%$552,00030.2K
29VIGVANGUARD SPECIALIZED PORTFOLCommon0.00%$549,0003.9K
30EMLCVANECK VECTORS TRCommon0.00%$476,00014.3K
31VIOOVANGUARD ADMIRAL FDS INCCommon0.00%$433,0002.6K
32DBX ETF TRCommon0.00%$288,0007.2K

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 ↗.