Managers / Q4 2023 · view latest →
Betterment LLC
CIK 0001633901 · 450 WEST 33RD STREET, FL 11, NEW YORK, NY, 10001 · 212-228-1328
Reported Value
$34.7B
Q4 2023
Positions
313
Filings on Record
29
2019–present window
Filed
Feb 9, 2024
original filing
Summary
Betterment LLC reported $34.7B in U.S.-listed holdings across 313 positions for Q4 2023.
The portfolio is heavily concentrated: VTI alone accounts for 34.9% of reported value.
Compared with Q3 2023, the fund opened 25 new positions and exited 8.
Portfolio Metrics
Turnover
+0.2%
vs prior filed quarter
Top-10 Concentration
+96.2%
share of reported value
Largest Position
+34.9%
Vanguard Index Fds
New / Exited
25 / 8
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% · $34.7B
- Other · 0.0% · $1M
- Common Stock · 0.0% · $977,000
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| IGEBISHARES TR | NEW | +202.1K | 202.1K | +$9M | $9M |
| iShares | NEW | +128.8K | 128.8K | +$8M | $8M |
| PSKSPDR SERIES TRUST | NEW | +23.8K | 23.8K | +$799,000 | $799,000 |
| PAUGINNOVATOR ETFS TR | NEW | +22.4K | 22.4K | +$748,000 | $748,000 |
| DFGRDimensional Fund Advisors LP | NEW | +27.2K | 27.2K | +$708,000 | $708,000 |
| OEFiShares | NEW | +2.3K | 2.3K | +$514,000 | $514,000 |
| PULSPGIM ETF TR | NEW | +9.4K | 9.4K | +$463,000 | $463,000 |
| VIOVVanguard | NEW | +4.4K | 4.4K | +$394,000 | $394,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
80 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 | 34.93% | $12.1B | 61.80M |
| 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 · INVESTMENT GRADE · S&P MC 400VL ETF · CORE S&P500 ETF · 7-10 YR TRSY BD · CALIF MUN BD ETF · NEW YORK MUN ETF · ISHS 1-5YR INVS · TIPS BD ETF · CORE S&P SCP ETF · CORE S&P MCP ETF · CORE 1 5 YR USD · INTRM GOV CR ETF · CORE INTL AGGR · 20 YR TR BD ETF · MSCI EAFE ETF · EAFE VALUE ETF · S&P 500 GRWT ETF · RUSSELL 3000 ETF · RUS 1000 VAL ETF · 3 7 YR TREAS BD · RUSSELL 2000 ETF · MSCI AC ASIA ETF · 10-20 YR TRS ETF · CORE S&P US GWT · SP SMCP600VL ETF · RUS 1000 ETF · ISHS 5-10YR INVT · USD INV GRDE ETF · IBOXX HI YD ETF · EAFE SML CP ETF · PFD AND INCM SEC | 17.25% | $6.0B | 61.93M |
| 3 | VEAVANGUARD TAX MANAGED INTL FDhistory → | VAN FTSE DEV MKT | 15.14% | $5.3B | 109.76M |
| 4 | VWOVANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF · GLB EX US ETF · FTSE SMCAP ETF | 9.57% | $3.3B | 80.90M |
| 5 | BNDXVANGUARD CHARLOTTE FDShistory → | TOTAL INT BD ETF | 5.47% | $1.9B | 38.51M |
| 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 · ESG AWRE USD ETF · FLTG RATE NT ETF · EXPONENTIAL TECH · TRS FLT RT BD · 0-5YR HI YL CP · FALN ANGLS USD · BLACKROCK SH DUR · MSCI USA MMENTM · BROAD USD HIGH · JP MRGN EM HI BD · MSCI USA QLT FCT · ESG ADV TTL USD · SHRT NAT MUN ETF · MSCI INTL MOMENT · MSCI INTL QUALTY · RUS TP200 GR ETF · CORE MSCI TOTAL · RUS 1000 GRW ETF · RUS 2000 GRW ETF · EAFE GRWTH ETF · CORE LT USDB ETF · CORE TOTAL USD · S&P 100 ETF · CORE DIV GRWTH · ESG EAFE ETF · US TREAS BD ETF · CRE U S REIT ETF · S&P MC 400GR ETF · ESG MSCI USA ETF · U.S. TECH ETF · MSCI USA MIN VOL · MSCI EMRG CHN · ISHARES · MSCI ACWI EX US · ESG AWRE 1 5 YR · MSCI USA VALUE · RUS MD CP GR ETF · RUS MID CAP ETF · CORE S&P US VLU · S&P SML 600 GWT · GLOBAL REIT ETF · MRGSTR MD CP GRW · INTERNATIONAL SL | 5.44% | $1.9B | 27.66M |
| 7 | GBILGoldman Sachs | ACCES TREASURY · ACTIVEBETA US LG · ACTIVEBETA INT · ACTIVEBETA EME · ACCESS US AGRAT · ACCESS INVT GR · ACCESS INFLATI | 3.48% | $1.2B | 17.82M |
| 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 · SCHWB FDT INT LG · US AGGREGATE B · US DIVIDEND EQ · US TIPS ETF · US SML CAP ETF · US MID-CAP ETF | 3.01% | $1.0B | 23.44M |
| 9 | TFISPDR SERIES TRUST | NUVEEN BLMBRG MU · BLOOMBERG 1-3 MO · BLOOMBERG HIGH Y · ICE PFD SEC ETF · PORTFOLIO LN TSR · PORTFOLIO INTRMD | 0.99% | $344M | 7.30M |
| 10 | SPDWSPDR State Street Global Advisors | PRTFLO S&P500 VL · SPDR S&P 500 ETF · PORTFOLIO EMG MK · PORTFOLIO DEVLPD · NUVEEN BLOOMBERG · S&P 600 SMCP VAL · PORTFOLIO S&P500 · SPDR MSCI USA GE · PORTFOLIO SHORT · PRTFLO S&P500 GW · MSCI EAFE STRTGC · PORTFOLI S&P1500 · PORTFOLIO S&P600 · SBI INT-UTILS · INDL · BLOOMBERG INVT · MULT ASS RLRTN | 0.90% | $314M | 7.46M |
| 11 | VTIPVANGUARD MALVERN FDShistory → | STRM INFPROIDX | 0.65% | $224M | 4.72M |
| 12 | JPSTJP Morganhistory → | ULTRA SHRT INC | 0.52% | $179M | 3.57M |
| 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 | 0.50% | $172M | 2.42M |
| 14 | VWOBVANGUARD WHITEHALL FDS INC | EM MK GOV BD ETF · HIGH DIV YLD | 0.41% | $143M | 2.23M |
| 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 · EMERGING MKTS CO · SHORT DURATION F · INTERNATNAL VAL · US REAL ESTATE E · INTL SMALL CAP E · US SMALL CAP VAL · EMERGING MKTS VA · US HIGH PROFITAB · US LARGE CAP VAL · GLOBAL REAL EST · EMERGING MKTS HI · INTL SMALL CAP V · NATL MUN BD ETF · INTL HIGH PROFIT | 0.34% | $119M | 3.96M |
| 16 | EFAXSPDR INDEX SHS FDS | MSCI EAFE FS ETF · MSCI EMR MKT ETF | 0.21% | $75M | 2.10M |
| 17 | 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 · MEGA GRWTH IND · EXTEND MKT ETF · MIDCP 400 GRTH · INTL HIGH ETF · ESG INTL STK ETF · INTER TERM TREAS · VNG RUS1000IDX · SMLCP 600 VAL · INF TECH ETF · MEGA CAP VAL ETF · MEGA CAP INDEX | 0.20% | $69M | 718.7K |
| 18 | KOMPState Street Global Advisors Inchistory → | S&P KENSHO NEW | 0.17% | $59M | 1.27M |
| 19 | VOTEEngine No. 1history → | TRANSFRM 500 ETF | 0.15% | $54M | 964.6K |
| 20 | DFACDimensional | US CORE EQUITY 2 · US TARGETED VLU · US EQUITY ETF · US SMALL CAP ETF | 0.15% | $52M | 1.62M |
| 21 | GMOMCAMBRIA ETF TR | GLB MOMENT ETF · VALUE MOMENTUM · GLOBAL VALUE ETF · SHSHLD YIELD ETF · CAMBRIA FGN SHR · EMRG SHAREHLDR | 0.06% | $20M | 699.0K |
| 22 | ESMLBlackRock Fund Advisorshistory → | ESG AWARE MSCI | 0.05% | $16M | 430.7K |
| 23 | QQQINVESCO QQQ TRhistory → | UNIT SER 1 | 0.04% | $13M | 32.5K |
| 24 | VUSBVANGUARD BD INDEX FDShistory → | VANGUARD ULTRA | 0.03% | $12M | 235.2K |
| 25 | GEMDGoldman Sachs Asset Management LPhistory → | ACCESS EMNG MKTS | 0.03% | $11M | 281.0K |
| 26 | COMBGraniteShares | BBG COMMD K 1 | 0.03% | $9M | 481.3K |
| 27 | 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 | 233.6K |
| 28 | XTRACKERS | XTRACK USD HIGH | 0.02% | $8M | 229.2K |
| 29 | PCYInvesco | EMRNG MKT SVRG · GBL LISTED PVT · S&P500 EQL WGT · OPTIMUM YIELD · S&P 500 MOMNTM · FTSE RAFI DEV · S&P 500 HB ETF | 0.02% | $8M | 312.1K |
| 30 | VIGVANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 0.02% | $6M | 37.0K |
| 31 | WTMFWISDOMTREE TR | FUTRE STRAT FD · EMG MKTS SMCAP · WISDOMTREE US VA | 0.01% | $4M | 107.2K |
| 32 | ANGLVan Eck | FALLEN ANGEL HG · OIL SERVICES ETF · MRNGSTR WDE MOAT | 0.01% | $3M | 91.9K |
| 33 | Impact Shares | NAACP MINO ETF | 0.01% | $3M | 98.8K |
| 34 | VCITVANGUARD SCOTTSDALE FDS | INT-TERM CORP | 0.01% | $3M | 41.2K |
| 35 | SGOVWestern Asset Management Co | 0-3 MNTH TREASRY | 0.01% | $3M | 31.9K |
| 36 | FNDASchwab | SCHWAB FDT US SC · SCHWB FDT EMK LG · SCHWAB FDT US LG | 0.01% | $3M | 68.3K |
| 37 | FIXDFirst Trust Exchange-Traded Fund VIII | TCW OPPORTUNIS | 0.01% | $3M | 65.1K |
| 38 | FTSMFirst Trust | FIRST TR ENH NEW · RISNG DIVD ACHIV | 0.01% | $3M | 47.3K |
| 39 | ARKWArk ETF Trust | NEXT GNRTN INTER · INNOVATION ETF | 0.01% | $3M | 41.3K |
| 40 | Avantis | US SML CP VALU | 0.01% | $3M | 29.1K |
| 41 | PAUGINNOVATOR ETFS TR | US EQTY PWR BF · US EQTY PWR BUF | 0.01% | $2M | 70.1K |
| 42 | VIOOVANGUARD ADMIRAL FDS INC | SMLLCP 600 IDX | 0.01% | $2M | 19.6K |
| 43 | SPYSPDR S&P 500 ETF TR | TR UNIT | 0.01% | $2M | 4.0K |
| 44 | EA Series Trust | US QUAN VALUE · INTL QUAN VALUE · INTL QUAN MOMNTM · FREEDOM 100 EM | 0.01% | $2M | 58.6K |
| 45 | UOCTInnovator Capital Management LLC | US EQTY ULTRA B · US EQTY PWR BUF · US EQTY BUF OCT | 0.00% | $2M | 45.4K |
| 46 | VXUSVANGUARD STAR FD | VG TL INTL STK F | 0.00% | $2M | 26.7K |
| 47 | HYDMARKET VECTORS ETF TR | HIGH YLD MUNIETF | 0.00% | $1M | 24.4K |
| 48 | QQQMINVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF · S&P INTL MOMNT | 0.00% | $1M | 14.3K |
| 49 | BONDPIMCO ETF TR | ACTIVE BD ETF · ENHAN SHRT MA AC | 0.00% | $1M | 13.1K |
| 50 | EMLPFIRST TR EXCHANGE TRADED FD | NO AMER ENERGY | 0.00% | $1M | 41.6K |
| 51 | GLDSPDR GOLD TRUST | GOLD SHS | 0.00% | $1M | 5.9K |
| 52 | COWZPacer | US CASH COWS 100 | 0.00% | $1M | 21.4K |
| 53 | AVDVAVANTIS INTL | INTL SMCP VLU | 0.00% | $1M | 17.3K |
| 54 | AVUSAMERICAN CENTY ETF TR | US EQT ETF | 0.00% | $1M | 13.0K |
| 55 | Exchange Traded Concepts LLC | BITWISE CRYPTO | 0.00% | $1M | 89.8K |
| 56 | XLESELECT SECTOR SPDR TR | ENERGY | 0.00% | $1M | 12.0K |
| 57 | EMLCVANECK VECTORS TR | JP MRGAN EM LOC | 0.00% | $988,000 | 39.0K |
| 58 | BLDGCambria Funds | GBL REAL EST ETF | 0.00% | $931,000 | 36.8K |
| 59 | INDEXIQ ETF TR | HEDGE MLTI ETF | 0.00% | $873,000 | 29.0K |
| 60 | JHMMJohn Hancock | MULTIFACTOR MI | 0.00% | $835,000 | 15.9K |
| 61 | SCHRSchwab ETFs | INT-TRM U.S TRES · SHT TM US TRES | 0.00% | $727,000 | 14.8K |
| 62 | AAPLAPPLE INC | COM | 0.00% | $663,000 | 3.4K |
| 63 | NOBLProShares | S&P 500 DV ARIST · PRIV EQTY-LSTD | 0.00% | $574,000 | 11.8K |
| 64 | BITOProshare Capital Management LLC | BITCOIN STRATE | 0.00% | $539,000 | 26.3K |
| 65 | CGDVCapital Research and Management Co | SHS CREATION UNI | 0.00% | $521,000 | 17.9K |
| 66 | ETFS GOLD TR | PHYSCL GOLD SHS | 0.00% | $489,000 | 24.8K |
| 67 | PULSPGIM ETF TR | PGIM ULTRA SH BD | 0.00% | $463,000 | 9.4K |
| 68 | SIVRABRDN SILVER ETF TRUST | PHYSCL SILVR SHS | 0.00% | $443,000 | 19.4K |
| 69 | GLDMWORLD GOLD TR | SPDR GLD MINIS | 0.00% | $425,000 | 10.4K |
| 70 | PACER FDS TR | PACER US SMALL | 0.00% | $405,000 | 8.4K |
| 71 | IAUISHARES GOLD TRUST | ISHARES NEW | 0.00% | $353,000 | 9.0K |
| 72 | XLVHealth | SBI HEALTHCARE | 0.00% | $317,000 | 2.3K |
| 73 | PGPROCTER AND GAMBLE CO | COM | 0.00% | $314,000 | 2.1K |
| 74 | JEPIJ P MORGAN EXCHANGE TRADED | EQUITY PREMIUM | 0.00% | $246,000 | 4.5K |
| 75 | SPUCSimplify Asset Management Inc | US EQT PLS UPSID | 0.00% | $246,000 | 7.5K |
| 76 | DBX ETF TR | XTRACK HRVST CSI | 0.00% | $245,000 | 10.3K |
| 77 | American Century Investment Management Inc | AVANTIS CORE FI | 0.00% | $243,000 | 5.8K |
| 78 | ETF SER SOLUTIONS | NATIONWIDE NASDQ | 0.00% | $234,000 | 10.5K |
| 79 | Legg Mason | FRANKLIN US LOW | 0.00% | $230,000 | 6.3K |
| 80 | BBUSBETABUILDRS US | BETABUILDRS US | 0.00% | $226,000 | 2.6K |
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 ↗.