13F filer · CIK 2100119 ↗
Vanguard Capital Management
You are looking at Q4 2016. See the latest, Q2 2026 →
Reported value
$1.79T
+5.3% on the quarter before
Positions
4,079
136 new · 141 sold out
Top 10
12.8%
of the value
Est. gain
+$51.65B
on stocks held all quarter
Est. return
+3.1%
on those stocks since Q3 2016
Positions as of Dec 31, 2016, from Vanguard Capital Management's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
The 24 largest positions, 23% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2016. Striped tiles are options.
Largest buys
Since Q3 2016, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Mid Amer Apt Cmntys Inc~$750.6MAdded · 0.1% → 0.1%+7,665,872 shares
- Arconic Inc~$747.5MNew · 0.0% → 0.0%+40,317,253 shares
- Coty Inc~$712.0MAdded · 0.0% → 0.0%+38,888,364 shares
- Microsoft~$702.5MAdded · 1.7% → 1.8%+11,304,390 shares
- Envision Healthcare Corp~$685.6MNew · 0.0% → 0.0%+10,833,225 shares
- Exxon Mobil Corp~$596.5MAdded · 1.4% → 1.5%+6,608,355 shares
- Meta~$480.6MAdded · 1.1% → 1.0%+4,177,119 shares
- Berkshire Hathaway Inc Del~$480.3MAdded · 0.9% → 1.0%+2,946,935 shares
- Agnc Invt Corp~$464.4MNew · 0.0% → 0.0%+25,617,302 shares
- Lamb Weston Hldgs Inc~$458.8MNew · 0.0% → 0.0%+12,122,801 shares
Largest sells
Since Q3 2016, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Alcoa~$1.24BSold out · 0.1% → 0.0%−122,440,642 shares
- Linkedin Corp~$1.07BSold out · 0.1% → 0.0%−5,593,788 shares
- Nvidia~$691.9MCut · 0.2% → 0.2%−6,481,789 shares
- Post Pptys Inc~$547.4MSold out · 0.0% → 0.0%−8,277,828 shares
- Itc Hldgs Corp~$534.4MSold out · 0.0% → 0.0%−11,497,091 shares
- American Capital Agency Corp~$481.9MSold out · 0.0% → 0.0%−24,664,321 shares
- Piedmont Nat Gas Inc~$424.1MSold out · 0.0% → 0.0%−7,064,414 shares
- Ingram Micro Inc~$412.1MSold out · 0.0% → 0.0%−11,556,479 shares
- Twenty First Centy Fox Inc~$390.6MCut · 0.1% → 0.1%−13,929,796 shares
- Liberty Interactive Corp~$383.7MSold out · 0.0% → 0.0%−9,623,526 shares
Holdings
As of Dec 31, 2016. Changes are in shares against Sep 30, 2016, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +1.0% · price +2.5% | 2.2% | $39.09B | +$925.8M | ||||||||
| MicrosoftCOM · shares +2.2% · price +7.9% | 1.8% | $32.65B | +$2.33B | ||||||||
| Exxon Mobil CorpCOM · shares +2.3% · price +3.4% | 1.5% | $26.06B | +$840.6M | ||||||||
| Johnson & JohnsonCOM · shares +1.3% · price −2.5% | 1.2% | $22.03B | −$550.9M | ||||||||
| Jpmorgan Chase & CoCOM · shares +1.7% · price +29.6% | 1.1% | $20.52B | +$4.61B | ||||||||
| AmazonCOM · shares +2.2% · price −10.4% | 1.1% | $18.85B | −$2.15B | ||||||||
| General Electric CoCOM · shares +0.9% · price +6.7% | 1.0% | $18.37B | +$1.14B | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares +2.7% · price +12.8% | 1.0% | $18.24B | +$2.02B | ||||||||
| MetaCL A · shares +2.8% · price −10.3% | 0.97% | $17.40B | −$1.94B | ||||||||
| AT&TCOM · shares +2.2% · price +4.7% | 0.96% | $17.13B | +$756.6M | ||||||||
| Wells Fargo & Co NewCOM · shares +2.4% · price +24.5% | 0.92% | $16.57B | +$3.18B | ||||||||
| Chevron Corp NewCOM · shares +2.3% · price +14.4% | 0.86% | $15.43B | +$1.89B | ||||||||
| AlphabetCAP STK CL A · shares +2.8% · price −1.4% | 0.85% | $15.23B | −$217.2M | ||||||||
| Procter And Gamble CoCOM · shares +2.6% · price −6.3% | 0.83% | $14.91B | −$980.5M | ||||||||
| AlphabetCAP STK CL C · shares +2.2% · price −0.7% | 0.82% | $14.74B | −$102.2M | ||||||||
| Verizon Communications IncCOM · shares +2.1% · price +2.7% | 0.80% | $14.36B | +$368.9M | ||||||||
| Bank Amer CorpCOM · shares +1.6% · price +41.2% | 0.78% | $13.99B | +$4.02B | ||||||||
| Pfizer IncCOM · shares +2.2% · price −4.1% | 0.73% | $13.06B | −$546.7M | ||||||||
| Coca Cola CoCOM · shares +1.9% · price −2.0% | 0.66% | $11.85B | −$241.3M | ||||||||
| IntelCOM · shares +2.6% · price −3.9% | 0.64% | $11.43B | −$454.5M | ||||||||
| Pepsico IncCOM · shares +2.5% · price −3.8% | 0.62% | $11.10B | −$428.5M | ||||||||
| Merck & Co IncCOM · shares +2.6% · price −5.7% | 0.61% | $10.88B | −$637.1M | ||||||||
| Citigroup IncCOM NEW · shares +2.4% · price +25.8% | 0.59% | $10.63B | +$2.13B | ||||||||
| Comcast Corp NewCL A · shares +1.3% · price +4.1% | 0.58% | $10.35B | +$401.3M | ||||||||
| Home Depot IncCOM · shares +0.5% · price +4.2% | 0.58% | $10.35B | +$414.5M | ||||||||
| Total · 4,079 positions | 100% | $1.79T | +$51.65B |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q3 2016 to Q4 2016: 3,942 stocks held throughout, up $51.65B (+3.1%).
- Jpmorgan Chase & Co+$4.61B+30%
- Bank Amer Corp+$4.02B+41%
- Wells Fargo & Co New+$3.18B+24%
- Microsoft+$2.33B+8%
- Citigroup Inc+$2.13B+26%
- Procter And Gamble Co−$980.5M−6%
- Simon Ppty Group Inc New−$1.30B−14%
- Medtronic Plc−$1.47B−18%
- Meta−$1.94B−10%
- Amazon−$2.15B−10%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 5 splits read into the share counts.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 13, 2026 | $4.68T+17% | SEC ↗ |
| Q1 2026 | May 15, 2026 (amended) | $4.00T−42% | SEC ↗ |
| Q4 2025 | Jan 29, 2026 | $6.90T+3% | SEC ↗ |
| Q3 2025 | Nov 7, 2025 | $6.68T+8% | SEC ↗ |
| Q2 2025 | Aug 11, 2025 | $6.18T+12% | SEC ↗ |
| Q1 2025 | May 9, 2025 | $5.53T−4% | SEC ↗ |
| Q4 2024 | Feb 11, 2025 | $5.74T+3% | SEC ↗ |
| Q3 2024 | Nov 13, 2024 | $5.58T+7% | SEC ↗ |
| Q2 2024 | Aug 13, 2024 | $5.21T+3% | SEC ↗ |
| Q1 2024 | May 10, 2024 | $5.05T+10% | SEC ↗ |
| Q4 2023 | Mar 11, 2024 (amended) | $4.58T+12% | SEC ↗ |
| Q3 2023 | Dec 18, 2023 (amended) | $4.07T−3% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $4.22T+7% | SEC ↗ |
| Q1 2023 | Jul 14, 2023 (amended) | $3.93T+7% | SEC ↗ |
| Q4 2022 | Feb 10, 2023 | $3.67T+8% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $3.40T−4% | SEC ↗ |
| Q2 2022 | Aug 12, 2022 | $3.56T−16% | SEC ↗ |
| Q1 2022 | May 13, 2022 | $4.23T−4% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $4.40T+9% | SEC ↗ |
| Q3 2021 | Nov 12, 2021 | $4.03T+0% | SEC ↗ |
| Q2 2021 | Aug 13, 2021 | $4.02T+9% | SEC ↗ |
| Q1 2021 | May 14, 2021 | $3.70T+7% | SEC ↗ |
| Q4 2020 | Feb 12, 2021 | $3.45T+14% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $3.02T+7% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $2.82T+20% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $2.35T−20% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $2.93T+9% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $2.70T+1% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $2.66T+4% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $2.55T+15% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $2.23T−13% | SEC ↗ |
| Q3 2018 | Dec 13, 2018 (amended) | $2.56T+7% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 | $2.39T+5% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $2.29T−0% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $2.29T+7% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 | $2.14T+5% | SEC ↗ |
| Q2 2017 | Aug 24, 2017 (amended) | $2.03T+4% | SEC ↗ |
| Q1 2017 | May 12, 2017 | $1.95T+9% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $1.79T+5% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 | $1.70T+6% | SEC ↗ |
| Q2 2016 | Aug 10, 2016 | $1.61T+4% | SEC ↗ |
| Q1 2016 | May 13, 2016 | $1.54T | SEC ↗ |