Managers / Q1 2023 · view latest →
Betterment LLC
CIK 0001633901 · 450 WEST 33RD STREET, FL 11, NEW YORK, NY, 10001 · 212-228-1328
Reported Value
$30.9B
Q1 2023
Positions
265
Filings on Record
29
2019–present window
Filed
May 15, 2023
original filing
Summary
Betterment LLC reported $30.9B in U.S.-listed holdings across 265 positions for Q1 2023.
The portfolio is heavily concentrated: VTI alone accounts for 33.8% of reported value.
Compared with Q4 2022, the fund opened 24 new positions and exited 11.
Portfolio Metrics
Turnover
+0.4%
vs prior filed quarter
Top-10 Concentration
+96.4%
share of reported value
Largest Position
+33.8%
Vanguard Index Fds
New / Exited
24 / 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
Portfolio Composition
By security type
- ETP · 100.0% · $30.9B
- Other · 0.0% · $807,000
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PSKSPDR SERIES TRUST | NEW | +23.0K | 23.0K | +$781,000 | $781,000 |
| DUHPDimensional Fund Advisors LP | NEW | +25.1K | 25.1K | +$631,000 | $631,000 |
| PFEBINNOVATOR ETFS TR | NEW | +20.8K | 20.8K | +$607,000 | $607,000 |
| DFISDimensional Fund Advisors LP | NEW | +19.4K | 19.4K | +$445,000 | $445,000 |
| BONDPIMCO ETF TR | NEW | +3.4K | 3.4K | +$318,000 | $318,000 |
| IUSGISHARES TR | NEW | +3.4K | 3.4K | +$300,000 | $300,000 |
| IDMOInvesco | NEW | +8.1K | 8.1K | +$262,000 | $262,000 |
| DISVDimensional Fund Advisors LP | NEW | +10.9K | 10.9K | +$260,000 | $260,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
68 positions (from 265 filing rows — )
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | VTIVANGUARD INDEX FDS | TOTAL STK MKT · VALUE ETF · MCAP VL IDXVIP · SM CP VAL ETF · S&P 500 ETF SHS · GROWTH ETF · SMALL CP ETF · 500 GRTH IDX F · 500 VAL IDX FD · REAL ESTATE ETF · MID CAP ETF | 33.78% | $10.4B | 60.07M |
| 2 | ITOTISHARES TR | CORE S&P TTL STK · NATIONAL MUN ETF · CORE MSCI EAFE · JPMORGAN USD EMG · CORE US AGGBD ET · SHORT TREAS BD · RUS MDCP VAL ETF · RUS 2000 VAL ETF · S&P 500 VAL ETF · MBS ETF · 7-10 YR TRSY BD · IBOXX INV CP ETF · S&P MC 400VL ETF · ISHS 1-5YR INVS · NEW YORK MUN ETF · CALIF MUN BD ETF · 1 3 YR TREAS BD · CORE S&P500 ETF · CORE 1 5 YR USD · TIPS BD ETF · INTRM GOV CR ETF · CORE INTL AGGR · CORE S&P MCP ETF · 3 7 YR TREAS BD · CORE S&P SCP ETF · RUSSELL 3000 ETF · S&P 500 GRWT ETF · 10-20 YR TRS ETF · RUS 1000 ETF · USD INV GRDE ETF · 20 YR TR BD ETF · 10+ YR INVST GRD · MSCI AC ASIA ETF · CORE S&P US GWT · MSCI EAFE ETF · EAFE VALUE ETF · SP SMCP600VL ETF · RUS 1000 VAL ETF | 18.42% | $5.7B | 61.93M |
| 3 | VEAVANGUARD TAX MANAGED INTL FDhistory → | VAN FTSE DEV MKT | 15.16% | $4.7B | 103.66M |
| 4 | VWOVANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF · GLB EX US ETF · FTSE SMCAP ETF | 9.51% | $2.9B | 72.66M |
| 5 | BNDXVANGUARD CHARLOTTE FDShistory → | TOTAL INT BD ETF | 5.61% | $1.7B | 35.44M |
| 6 | IEMGISHARES INC | CORE MSCI EMKT · ESG AW MSCI EAFE · ESG AWR MSCI USA · MSCI LW CRB TG · 0-5 YR TIPS ETF · ESG AWR MSCI EM · MSCI KLD400 SOC · USD GRN BOND ETF · MSCI USA ESG SLC · ESG AWR US AGRGT · ESG AWRE USD ETF · FALN ANGLS USD · FLTG RATE NT ETF · 0-5YR HI YL CP · CORE MSCI INTL · BLACKROCK ST MAT · MSCI GBL MIN VOL · JP MRGN EM HI BD · MSCI EMERG MRKT · BROAD USD HIGH · ESG AWRE 1 5 YR · MSCI USA MMENTM · ESG ADV TTL USD · CORE MSCI TOTAL · CORE LT USDB ETF · MSCI INTL MOMENT · MSCI USA QLT FCT · MSCI INTL QUALTY · SHRT NAT MUN ETF · MSCI USA MIN VOL · CORE TOTAL USD · RUS 2000 GRW ETF · ESG EAFE ETF · ESG MSCI USA ETF · US TREAS BD ETF · MSCI USA VALUE · EAFE GRWTH ETF · RUS TP200 GR ETF · MSCI GBL ETF NEW · CRE U S REIT ETF · MSCI ACWI EX US · RUS MID CAP ETF | 5.16% | $1.6B | 25.55M |
| 7 | SCHFSCHWAB STRATEGIC TR | INTL EQTY ETF · US BRD MKT ETF · US LCAP VA ETF · US REIT ETF · US LRG CAP ETF · EMRG MKTEQ ETF · US TIPS ETF · US LCAP GR ETF · SCHWB FDT INT LG · US DIVIDEND EQ · US SML CAP ETF | 3.36% | $1.0B | 25.54M |
| 8 | GBILGoldman Sachs | ACCES TREASURY · ACTIVEBETA US LG · ACTIVEBETA INT · ACCESS US AGRAT · ACTIVEBETA EME · ACCESS INVT GR · ACCESS INFLATI | 3.29% | $1.0B | 14.96M |
| 9 | VTIPVANGUARD MALVERN FDShistory → | STRM INFPROIDX | 1.12% | $346M | 7.23M |
| 10 | EFAXSPDR State Street Global Advisors | PRTFLO S&P500 VL · SPDR S&P 500 ETF · MSCI EAFE FS ETF · PORTFOLIO EMG MK · MSCI EMR MKT ETF · S&P 600 SMCP VAL · SPDR MSCI USA GE · SPDR GLD MINIS · PORTFOLIO DEVLPD · PORTFOLIO S&P500 · PRTFLO S&P500 GW · SPDR S&P1500VL · RL EST SEL SEC · MSCI EAFE STRTGC | 0.94% | $290M | 7.76M |
| 11 | TFISPDR SERIES TRUST | NUVEEN BLMBRG MU · PORTFOLIO LN TSR · ICE PFD SEC ETF · BLOOMBERG 1-3 MO · PORTFOLIO INTRMD · BLOOMBERG HIGH Y | 0.86% | $266M | 5.76M |
| 12 | JPSTJP Morganhistory → | ULTRA SHRT INC | 0.63% | $193M | 3.84M |
| 13 | BNDVANGUARD BD INDEX FD INC | TOTAL BND MRKT · SHORT TRM BOND · INTERMED TERM · MTG-BKD SECS ETF · LONG TERM BOND · LONG TERM TREAS · TAX EXEMPT BD | 0.52% | $161M | 2.24M |
| 14 | VWOBVANGUARD WHITEHALL FDS INC | EM MK GOV BD ETF · HIGH DIV YLD | 0.44% | $135M | 2.15M |
| 15 | ESGVVANGUARD | ESG US STK ETF · ESG INTL STK ETF · MCAP GR IDXVIP · SHRT TRM CORP BD · INTL DVD ETF · SML CP GRW ETF · SHORT TERM TREAS · EXTEND MKT ETF · MIDCP 400 GRTH · INTER TERM TREAS · TT WRLD ST ETF · CONSUM STP ETF · MEGA GRWTH IND · INTL HIGH ETF · ALLWRLD EX US | 0.23% | $73M | 5.07M |
| 16 | DFAUDimensional Fund Advisors | US CORE EQT MKT · INTL CORE EQT MK · WORLD EX US CORE · CORE FIXED INCOM · EMGR CRE EQT MNG · INTL CORE EQUITY · SHORT DURATION F · EMERGING MKTS CO · US SMALL CAP VAL · US REAL ESTATE E · US HIGH PROFITAB · INTERNATNAL VAL · INTL SMALL CAP E · INTL SMALL CAP V · INTL HIGH PROFIT · EMERGING MKTS HI · US MKTWIDE VALUE · EMERGING MKTS VA | 0.15% | $46M | 1.67M |
| 17 | KOMPState Street Global Advisors Inchistory → | S&P KENSHO NEW | 0.15% | $45M | 1.05M |
| 18 | VOTEEngine No. 1history → | TRANSFRM 500 ETF | 0.14% | $44M | 927.6K |
| 19 | DFACDimensional | US CORE EQUITY 2 · US TARGETED VLU · US EQUITY ETF · US SMALL CAP ETF | 0.08% | $24M | 901.5K |
| 20 | GMOMCAMBRIA ETF TR | GLB MOMENT ETF · VALUE MOMENTUM · GLOBAL VALUE ETF · SHSHLD YIELD ETF · CAMBRIA FGN SHR · EMRG SHAREHLDR | 0.07% | $21M | 785.1K |
| 21 | ESMLBlackRock Fund Advisorshistory → | ESG AWARE MSCI | 0.04% | $12M | 359.9K |
| 22 | QQQINVESCO QQQ TRhistory → | UNIT SER 1 | 0.03% | $11M | 32.8K |
| 23 | COMBGraniteShares | BBG COMMD K 1 | 0.03% | $9M | 438.9K |
| 24 | PCYInvesco | EMRNG MKT SVRG · GBL LISTED PVT · S&P500 EQL WGT · OPTIMUM YIELD · FTSE RAFI DEV · S&P INTL MOMNT · S&P 500 HB ETF · S&P 500 MOMNTM · DIVID ACHIEVEV | 0.03% | $8M | 445.1K |
| 25 | GEMDGoldman Sachs Asset Management LP | ACCESS EMNG MKTS | 0.03% | $8M | 198.8K |
| 26 | XSOEWisdomTree | EM EX ST-OWNED · US LARGECAP FUND · YIELD ENHANCD US · INTL SMCAP DIV · US MIDCAP DIVID · US SMALLCAP FUND | 0.02% | $7M | 207.3K |
| 27 | LTPZPIMCO | 15+ YR US TIPS | 0.02% | $6M | 97.0K |
| 28 | XTRACKERS | XTRACK USD HIGH | 0.02% | $6M | 162.0K |
| 29 | WTMFWISDOMTREE TR | FUTRE STRAT FD · EMG MKTS SMCAP · WISDOMTREE US VA | 0.01% | $4M | 118.8K |
| 30 | FNDASchwab | SCHWAB FDT US SC · SCHWB FDT EMK LG | 0.01% | $4M | 83.5K |
| 31 | VCITVANGUARD SCOTTSDALE FDS | INT-TERM CORP · LG-TERM COR BD | 0.01% | $3M | 41.5K |
| 32 | Impact Shares | NAACP MINO ETF | 0.01% | $3M | 101.0K |
| 33 | VUSBVANGUARD BD INDEX FDS | VANGUARD ULTRA | 0.01% | $3M | 51.6K |
| 34 | ANGLVan Eck | FALLEN ANGEL HG · OIL SERVICES ETF | 0.01% | $2M | 70.2K |
| 35 | FIXDFirst Trust Exchange-Traded Fund VIII | TCW OPPORTUNIS | 0.01% | $2M | 47.9K |
| 36 | VIGVANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 0.01% | $2M | 12.9K |
| 37 | ARKWArk ETF Trust | NEXT GNRTN INTER · INNOVATION ETF | 0.01% | $2M | 40.2K |
| 38 | AVUSAMERICAN CENTY ETF TR | US EQT ETF | 0.01% | $2M | 22.7K |
| 39 | INDEXIQ ETF TR | HEDGE MLTI ETF | 0.01% | $2M | 54.7K |
| 40 | SPYSPDR S&P 500 ETF TR | TR UNIT | 0.00% | $2M | 3.7K |
| 41 | Avantis | US SML CP VALU | 0.00% | $1M | 20.0K |
| 42 | UOCTInnovator Capital Management LLC | US EQTY ULTRA B · US EQTY PWR BUF · US EQTY BUF OCT | 0.00% | $1M | 45.9K |
| 43 | VIOOVANGUARD ADMIRAL FDS INC | SMLLCP 600 IDX | 0.00% | $1M | 15.3K |
| 44 | VXUSVANGUARD STAR FD | VG TL INTL STK F | 0.00% | $1M | 23.6K |
| 45 | EMLCVANECK VECTORS TR | JP MRGAN EM LOC | 0.00% | $1M | 47.2K |
| 46 | EA Series Trust | US QUAN VALUE · INTL QUAN VALUE · INTL QUAN MOMNTM | 0.00% | $1M | 40.1K |
| 47 | PFEBINNOVATOR ETFS TR | US EQTY PWR BUF | 0.00% | $1M | 34.1K |
| 48 | EMLPFIRST TR EXCHANGE TRADED FD | NO AMER ENERGY | 0.00% | $1M | 38.7K |
| 49 | RDVYFirst Trust | RISNG DIVD ACHIV | 0.00% | $895,000 | 20.0K |
| 50 | BLDGCambria Funds | GBL REAL EST ETF | 0.00% | $888,000 | 35.7K |
| 51 | XLESELECT SECTOR SPDR TR | ENERGY | 0.00% | $836,000 | 10.1K |
| 52 | Exchange Traded Concepts LLC | BITWISE CRYPTO | 0.00% | $807,000 | 137.5K |
| 53 | SGOVWestern Asset Management Co | 0-3 MNTH TREASRY | 0.00% | $725,000 | 7.2K |
| 54 | AVDVAVANTIS INTL | INTL SMCP VLU | 0.00% | $722,000 | 12.4K |
| 55 | HYDMARKET VECTORS ETF TR | HIGH YLD MUNIETF | 0.00% | $703,000 | 13.6K |
| 56 | QQQMINVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 0.00% | $563,000 | 4.3K |
| 57 | COWZPacer | US CASH COWS 100 | 0.00% | $545,000 | 11.6K |
| 58 | ETFS GOLD TR | PHYSCL GOLD SHS | 0.00% | $535,000 | 28.4K |
| 59 | SCHOSchwab ETFs | SHT TM US TRES · INT-TRM U.S TRES | 0.00% | $507,000 | 10.3K |
| 60 | JHMMJohn Hancock | MULTIFACTOR MI | 0.00% | $502,000 | 10.5K |
| 61 | BITOProshare Capital Management LLC | BITCOIN STRATE | 0.00% | $334,000 | 19.0K |
| 62 | DBX ETF TR | XTRACK HRVST CSI | 0.00% | $323,000 | 10.9K |
| 63 | BONDPIMCO ETF TR | ACTIVE BD ETF | 0.00% | $318,000 | 3.4K |
| 64 | PEXProShares | PRIV EQTY-LSTD | 0.00% | $258,000 | 9.6K |
| 65 | SPUCSimplify Asset Management Inc | US EQT PLS UPSID | 0.00% | $223,000 | 7.9K |
| 66 | Legg Mason | FRANKLIN US LOW | 0.00% | $220,000 | 5.9K |
| 67 | GUNRFlexshares Trust | MORNSTAR UPSTR | 0.00% | $217,000 | 5.1K |
| 68 | MSOSADVISORSHARES TR | PURE US CANNABIS | 0.00% | $60,000 | 10.5K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $52.8B | 615 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $52.5B | 551 | Feb 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $50.6B | 522 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $47.0B | 497 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $42.2B | 458 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $41.9B | 444 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $41.9B | 421 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $38.6B | 392 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $37.3B | 352 | May 10, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $34.7B | 313 | Feb 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $31.6B | 296 | Nov 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $32.3B | 281 | Aug 7, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $30.9B | 265 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $29.2B | 252 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $28.0B | 223 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $28.0B | 223 | Aug 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $31.4B | 224 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $32.1B | 202 | Feb 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $29.9B | 184 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $29.4B | 163 | Aug 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $23.9B | 125 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $20.4B | 112 | Nov 10, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $18.8B | 115 | Aug 11, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $16.1B | 111 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $19.4B | 112 | Jan 31, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $17.6B | 111 | Nov 7, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $17.6B | 111 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $16.5B | 109 | Apr 11, 2019 | 13F-HR | changes · 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 ↗.