Managers / Q3 2023 · view latest →
Betterment LLC
CIK 0001633901 · 450 WEST 33RD STREET, FL 11, NEW YORK, NY, 10001 · 212-228-1328
Reported Value
$31.6B
Q3 2023
Positions
296
Filings on Record
29
2019–present window
Filed
Nov 9, 2023
original filing
Summary
Betterment LLC reported $31.6B in U.S.-listed holdings across 296 positions for Q3 2023.
The portfolio is heavily concentrated: VTI alone accounts for 34.6% of reported value.
Compared with Q2 2023, the fund opened 22 new positions and exited 7.
Portfolio Metrics
Turnover
+0.5%
vs prior filed quarter
Top-10 Concentration
+96.4%
share of reported value
Largest Position
+34.6%
Vanguard Index Fds
New / Exited
22 / 7
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% · $31.6B
- Common Stock · 0.0% · $799,000
- Other · 0.0% · $732,000
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| TFLOiShares | NEW | +138.2K | 138.2K | +$7M | $7M |
| FTSMFirst Trust | NEW | +26.6K | 26.6K | +$2M | $2M |
| PSPInvesco | NEW | +12.0K | 12.0K | +$620,000 | $620,000 |
| AAPLAPPLE INC | NEW | +3.4K | 3.4K | +$575,000 | $575,000 |
| SLViShares | NEW | +19.1K | 19.1K | +$388,000 | $388,000 |
| IJSISHARES TR | NEW | +4.2K | 4.2K | +$374,000 | $374,000 |
| SPDR State Street Global Advisors | NEW | +7.1K | 7.1K | +$373,000 | $373,000 |
| FNDXSchwab | NEW | +6.3K | 6.3K | +$352,000 | $352,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
72 positions
| # | 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 VAL IDX FD · 500 GRTH IDX F · REAL ESTATE ETF · MID CAP ETF · VNG RUS1000GRW | 34.57% | $10.9B | 61.73M |
| 2 | ITOTISHARES TR | CORE S&P TTL STK · NATIONAL MUN ETF · CORE US AGGBD ET · JPMORGAN USD EMG · CORE MSCI EAFE · SHORT TREAS BD · RUS MDCP VAL ETF · RUS 2000 VAL ETF · S&P 500 VAL ETF · IBOXX INV CP ETF · MBS ETF · CORE S&P500 ETF · 7-10 YR TRSY BD · S&P MC 400VL ETF · CALIF MUN BD ETF · NEW YORK MUN ETF · ISHS 1-5YR INVS · 20 YR TR BD ETF · TIPS BD ETF · CORE 1 5 YR USD · CORE S&P SCP ETF · INTRM GOV CR ETF · CORE S&P MCP ETF · 1 3 YR TREAS BD · CORE INTL AGGR · EAFE VALUE ETF · PFD AND INCM SEC · MSCI EAFE ETF · RUSSELL 3000 ETF · S&P 500 GRWT ETF · RUS 1000 VAL ETF · MSCI AC ASIA ETF · 10-20 YR TRS ETF · RUSSELL 2000 ETF · USD INV GRDE ETF · CORE S&P US GWT · SP SMCP600VL ETF · RUS 1000 ETF · IBOXX HI YD ETF · 3 7 YR TREAS BD · 10+ YR INVST GRD · ISHS 5-10YR INVT | 17.79% | $5.6B | 62.61M |
| 3 | VEAVANGUARD TAX MANAGED INTL FDhistory → | VAN FTSE DEV MKT | 15.00% | $4.7B | 108.00M |
| 4 | VWOVANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF · GLB EX US ETF · FTSE SMCAP ETF | 9.66% | $3.0B | 77.76M |
| 5 | BNDXVANGUARD CHARLOTTE FDShistory → | TOTAL INT BD ETF | 5.65% | $1.8B | 37.27M |
| 6 | IEMGISHARES INC | CORE MSCI EMKT · 0-5 YR TIPS ETF · ESG AW MSCI EAFE · ESG AWR MSCI USA · MSCI LW CRB TG · ESG AWR MSCI EM · USD GRN BOND ETF · MSCI KLD400 SOC · MSCI USA ESG SLC · ESG AWR US AGRGT · FLTG RATE NT ETF · ESG AWRE USD ETF · TRS FLT RT BD · 0-5YR HI YL CP · FALN ANGLS USD · BLACKROCK ST MAT · MSCI USA MMENTM · BROAD USD HIGH · JP MRGN EM HI BD · MSCI USA QLT FCT · MSCI INTL QUALTY · ESG ADV TTL USD · MSCI INTL MOMENT · CORE MSCI TOTAL · CORE TOTAL USD · EAFE GRWTH ETF · MSCI USA MIN VOL · RUS 1000 GRW ETF · RUS TP200 GR ETF · SHRT NAT MUN ETF · CORE LT USDB ETF · RUS 2000 GRW ETF · US TREAS BD ETF · CRE U S REIT ETF · CORE DIV GRWTH · MSCI USA VALUE · ISHARES · ESG EAFE ETF · ESG MSCI USA ETF · S&P MC 400GR ETF · U.S. TECH ETF · MSCI ACWI EX US · ESG AWRE 1 5 YR · CORE S&P US VLU · GLOBAL REIT ETF · RUS MID CAP ETF · RUS MD CP GR ETF | 5.39% | $1.7B | 26.95M |
| 7 | GBILGoldman Sachs | ACCES TREASURY · ACTIVEBETA US LG · ACTIVEBETA INT · ACTIVEBETA EME · ACCESS US AGRAT · ACCESS INVT GR · ACCESS INFLATI | 3.46% | $1.1B | 16.90M |
| 8 | 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 LCAP GR ETF · US DIVIDEND EQ · SCHWB FDT INT LG · DIV APP ETF · US AGGREGATE B · US SML CAP ETF · US MID-CAP ETF | 3.11% | $980M | 24.17M |
| 9 | EFAXSPDR State Street Global Advisors | PRTFLO S&P500 VL · SPDR S&P 500 ETF · MSCI EAFE FS ETF · MSCI EMR MKT ETF · PORTFOLIO EMG MK · S&P 600 SMCP VAL · SPDR MSCI USA GE · PORTFOLIO DEVLPD · PORTFOLIO S&P500 · PORTFOLIO SHORT · NUVEEN BLOOMBERG · PRTFLO S&P500 GW · MSCI EAFE STRTGC · SPDR GLD MINIS · PORTFOLI S&P1500 · SBI INT-UTILS · BLOOMBERG INVT | 0.95% | $301M | 8.07M |
| 10 | VTIPVANGUARD MALVERN FDShistory → | STRM INFPROIDX | 0.80% | $254M | 5.37M |
| 11 | TFISPDR SERIES TRUST | NUVEEN BLMBRG MU · BLOOMBERG 1-3 MO · BLOOMBERG HIGH Y · PORTFOLIO INTRMD · PORTFOLIO LN TSR | 0.72% | $228M | 5.20M |
| 12 | JPSTJP Morganhistory → | ULTRA SHRT INC | 0.58% | $184M | 3.67M |
| 13 | BNDVANGUARD BD INDEX FD INC | TOTAL BND MRKT · SHORT TRM BOND · INTERMED TERM · LONG TERM BOND · MTG-BKD SECS ETF · LONG TERM TREAS · TAX EXEMPT BD | 0.52% | $164M | 2.44M |
| 14 | VWOBVANGUARD WHITEHALL FDS INC | EM MK GOV BD ETF · HIGH DIV YLD | 0.41% | $128M | 2.15M |
| 15 | DFAUDimensional Fund Advisors | US CORE EQT MKT · INTL CORE EQT MK · CORE FIXED INCOM · INTL CORE EQUITY · EMGR CRE EQT MNG · WORLD EX US CORE · SHORT DURATION F · EMERGING MKTS CO · US REAL ESTATE E · INTERNATNAL VAL · INTL SMALL CAP E · US SMALL CAP VAL · EMERGING MKTS VA · US HIGH PROFITAB · EMERGING MKTS HI · INTL SMALL CAP V · US MKTWIDE VALUE · INTL HIGH PROFIT · US LARGE CAP VAL · NATL MUN BD ETF | 0.27% | $86M | 3.08M |
| 16 | ESGVVANGUARD | ESG US STK ETF · MCAP GR IDXVIP · INTL DVD ETF · SML CP GRW ETF · SHORT TERM TREAS · SHRT TRM CORP BD · TT WRLD ST ETF · ALLWRLD EX US · CONSUM STP ETF · EXTEND MKT ETF · MIDCP 400 GRTH · INTL HIGH ETF · HEALTH CAR ETF · MEGA GRWTH IND · ESG INTL STK ETF · INTER TERM TREAS · VNG RUS1000IDX · MEGA CAP VAL ETF | 0.20% | $62M | 714.1K |
| 17 | KOMPState Street Global Advisors Inchistory → | S&P KENSHO NEW | 0.17% | $53M | 1.33M |
| 18 | VOTEEngine No. 1history → | TRANSFRM 500 ETF | 0.15% | $48M | 965.6K |
| 19 | DFACDimensional | US CORE EQUITY 2 · US TARGETED VLU · US EQUITY ETF · US SMALL CAP ETF | 0.11% | $35M | 1.24M |
| 20 | GMOMCAMBRIA ETF TR | GLB MOMENT ETF · VALUE MOMENTUM · GLOBAL VALUE ETF · SHSHLD YIELD ETF · CAMBRIA FGN SHR · EMRG SHAREHLDR | 0.07% | $21M | 757.0K |
| 21 | QQQInvesco | UNIT SER 1 · EMRNG MKT SVRG · GBL LISTED PVT · OPTIMUM YIELD · FTSE RAFI DEV · S&P INTL MOMNT · S&P 500 MOMNTM · S&P 500 HB ETF · S&P500 EQL WGT | 0.06% | $20M | 375.1K |
| 22 | ESMLBlackRock Fund Advisorshistory → | ESG AWARE MSCI | 0.05% | $15M | 443.5K |
| 23 | VUSBVANGUARD BD INDEX FDShistory → | VANGUARD ULTRA | 0.03% | $11M | 223.7K |
| 24 | GEMDGoldman Sachs Asset Management LP | ACCESS EMNG MKTS | 0.03% | $10M | 259.2K |
| 25 | COMBGraniteShares | BBG COMMD K 1 | 0.03% | $10M | 457.3K |
| 26 | XSOEWisdomTree | EM EX ST-OWNED · US LARGECAP FUND · YIELD ENHANCD US · INTL SMCAP DIV · US MIDCAP DIVID · US SMALLCAP FUND · FLOATNG RAT TREA | 0.02% | $8M | 229.1K |
| 27 | XTRACKERS | XTRACK USD HIGH | 0.02% | $7M | 198.7K |
| 28 | WTMFWISDOMTREE TR | FUTRE STRAT FD · EMG MKTS SMCAP · WISDOMTREE US VA | 0.01% | $4M | 114.0K |
| 29 | ANGLVan Eck | FALLEN ANGEL HG · OIL SERVICES ETF · MRNGSTR WDE MOAT | 0.01% | $3M | 87.2K |
| 30 | VCITVANGUARD SCOTTSDALE FDS | INT-TERM CORP · LG-TERM COR BD | 0.01% | $3M | 41.2K |
| 31 | Impact Shares | NAACP MINO ETF | 0.01% | $3M | 98.8K |
| 32 | SGOVWestern Asset Management Co | 0-3 MNTH TREASRY | 0.01% | $3M | 28.6K |
| 33 | FIXDFirst Trust Exchange-Traded Fund VIII | TCW OPPORTUNIS | 0.01% | $3M | 61.8K |
| 34 | FTSMFirst Trust | FIRST TR ENH NEW · RISNG DIVD ACHIV | 0.01% | $3M | 46.7K |
| 35 | FNDASchwab | SCHWAB FDT US SC · SCHWB FDT EMK LG · SCHWAB FDT US LG | 0.01% | $2M | 58.4K |
| 36 | Avantis | US SML CP VALU | 0.01% | $2M | 28.3K |
| 37 | VIGVANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 0.01% | $2M | 13.2K |
| 38 | ARKWArk ETF Trust | NEXT GNRTN INTER · INNOVATION ETF | 0.01% | $2M | 41.5K |
| 39 | VXUSVANGUARD STAR FD | VG TL INTL STK F | 0.00% | $1M | 27.5K |
| 40 | PFEBINNOVATOR ETFS TR | US EQTY PWR BUF | 0.00% | $1M | 44.9K |
| 41 | UOCTInnovator Capital Management LLC | US EQTY ULTRA B · US EQTY PWR BUF · US EQTY BUF OCT | 0.00% | $1M | 43.3K |
| 42 | SPYSPDR S&P 500 ETF TR | TR UNIT | 0.00% | $1M | 3.1K |
| 43 | EA Series Trust | US QUAN VALUE · INTL QUAN VALUE · INTL QUAN MOMNTM | 0.00% | $1M | 45.4K |
| 44 | VIOOVANGUARD ADMIRAL FDS INC | SMLLCP 600 IDX | 0.00% | $1M | 14.2K |
| 45 | AVUSAMERICAN CENTY ETF TR | US EQT ETF | 0.00% | $1M | 16.6K |
| 46 | XLESELECT SECTOR SPDR TR | ENERGY | 0.00% | $1M | 12.2K |
| 47 | GLDSPDR GOLD TRUST | GOLD SHS | 0.00% | $1M | 6.4K |
| 48 | EMLPFIRST TR EXCHANGE TRADED FD | NO AMER ENERGY | 0.00% | $1M | 41.4K |
| 49 | EMLCVANECK VECTORS TR | JP MRGAN EM LOC | 0.00% | $1M | 42.0K |
| 50 | AVDVAVANTIS INTL | INTL SMCP VLU | 0.00% | $983,000 | 17.0K |
| 51 | INDEXIQ ETF TR | HEDGE MLTI ETF | 0.00% | $966,000 | 32.2K |
| 52 | BLDGCambria Funds | GBL REAL EST ETF | 0.00% | $870,000 | 38.0K |
| 53 | BONDPIMCO ETF TR | ACTIVE BD ETF · ENHAN SHRT MA AC | 0.00% | $840,000 | 9.2K |
| 54 | HYDVANECK ETF TRUST | HIGH YLD MUNIETF | 0.00% | $812,000 | 16.6K |
| 55 | Exchange Traded Concepts LLC | BITWISE CRYPTO | 0.00% | $732,000 | 109.3K |
| 56 | COWZPacer | US CASH COWS 100 | 0.00% | $703,000 | 14.2K |
| 57 | JHMMJohn Hancock | MULTIFACTOR MI | 0.00% | $667,000 | 14.1K |
| 58 | JEPIJ P MORGAN EXCHANGE TRADED | EQUITY PREMIUM · SHORT DURA CORE | 0.00% | $612,000 | 12.2K |
| 59 | SCHRSchwab ETFs | INT-TRM U.S TRES · SHT TM US TRES | 0.00% | $592,000 | 12.3K |
| 60 | AAPLAPPLE INC | COM | 0.00% | $575,000 | 3.4K |
| 61 | QQQMINVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 0.00% | $555,000 | 3.8K |
| 62 | ETFS GOLD TR | PHYSCL GOLD SHS | 0.00% | $469,000 | 26.5K |
| 63 | PEXProShares | PRIV EQTY-LSTD · S&P 500 DV ARIST | 0.00% | $442,000 | 11.1K |
| 64 | SIVRABRDN SILVER ETF TRUST | PHYSCL SILVR SHS | 0.00% | $406,000 | 19.1K |
| 65 | Legg Mason | FRANKLIN US LOW | 0.00% | $370,000 | 10.9K |
| 66 | BITOProshare Capital Management LLC | BITCOIN STRATE | 0.00% | $336,000 | 24.4K |
| 67 | XLVHealth | SBI HEALTHCARE | 0.00% | $332,000 | 2.6K |
| 68 | IAUISHARES GOLD TRUST | ISHARES NEW | 0.00% | $283,000 | 8.1K |
| 69 | DBX ETF TR | XTRACK HRVST CSI | 0.00% | $277,000 | 10.6K |
| 70 | PACER FDS TR | PACER US SMALL | 0.00% | $235,000 | 5.6K |
| 71 | MSFTMICROSOFT CORP | COM | 0.00% | $224,000 | 711 |
| 72 | SPUCSimplify Asset Management Inc | US EQT PLS UPSID | 0.00% | $223,000 | 7.7K |
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 ↗.