During the third quarter, First Citizens Bank & Trust Co. expanded its holdings in Vanguard S&P 500 ETF by 4.0%, acquiring an additional 1,886 shares to bring its total to 49,191 shares. This stake represents 0.5% of the bank’s overall portfolio and ranks as its 23rd largest holding. As of the most recent SEC filing, the position was valued at $30.12 million, underscoring the firm’s continued confidence in the broad U.S. large-cap exposure provided by the ETF.

TRB Advisors LP emerged as the ETF’s largest single holding in its portfolio after boosting its position by 72.7% in the third quarter. The firm added 200,000 shares, lifting its total to 475,000 shares, which account for 57.5% of its assets under management. At the end of the quarter, this position carried a market value of $290.88 million, reflecting a strategic shift toward passive S&P 500 tracking as a core allocation.

Several other institutional investors and hedge funds also adjusted their allocations during the period. Cheviot Value Management LLC increased its stake by 19.4%, acquiring 634 additional shares for a total of 3,896 shares valued at $2.46 million. 1834 Investment Advisors Co. added 648 shares to reach 36,562 shares ($22.39 million), while Patten & Patten Inc. TN grew its position by 23.7% to 21,380 shares ($13.09 million). Smaller managers like Winebrenner Capital Management LLC and Mendel Capital Management LLC raised their stakes by 22.9% and 3.7%, respectively, reflecting widespread appetite across the institutional spectrum for index-based large-cap strategies.