13F filer · CIK 2100119 ↗
Vanguard Capital Management
You are looking at Q4 2017. See the latest, Q2 2026 →
Reported value
$2.29T
+6.9% on the quarter before
Positions
4,063
132 new · 143 sold out
Top 10
14.1%
of the value
Est. gain
+$117.25B
on stocks held all quarter
Est. return
+5.5%
on those stocks since Q3 2017
Positions as of Dec 31, 2017, 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, 24% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2017. Striped tiles are options.
Largest buys
Since Q3 2017, 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.
- Aptiv Plc~$1.88BNew · 0.0% → 0.1%+22,171,304 shares
- IQVIA~$1.58BNew · 0.0% → 0.1%+16,165,869 shares
- Alibaba~$1.50BAdded · 0.1% → 0.2%+8,699,995 shares
- Tapestry Inc~$1.30BNew · 0.0% → 0.1%+29,350,959 shares
- Invitation Homes Inc~$948.7MAdded · 0.0% → 0.0%+40,250,206 shares
- Microsoft~$853.0MAdded · 2.0% → 2.2%+9,971,960 shares
- Centurylink Inc~$733.9MAdded · 0.1% → 0.1%+43,999,282 shares
- Becton Dickinson & Co~$703.8MAdded · 0.2% → 0.2%+3,287,957 shares
- Meta~$692.9MAdded · 1.3% → 1.3%+3,926,622 shares
- Apple~$656.5MAdded · 2.5% → 2.6%+3,879,342 shares
Largest sells
Since Q3 2017, 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.
- Bard C R Inc~$2.53BSold out · 0.1% → 0.0%−7,903,919 shares
- Delphi Automotive Plc~$2.17BSold out · 0.1% → 0.0%−22,005,191 shares
- Level 3 Communications Inc~$1.58BSold out · 0.1% → 0.0%−29,713,713 shares
- Quintiles Ims Holdings Inc~$1.54BSold out · 0.1% → 0.0%−16,173,438 shares
- Coach Inc~$1.25BSold out · 0.1% → 0.0%−31,051,466 shares
- Kite Pharma Inc~$736.1MSold out · 0.0% → 0.0%−4,094,002 shares
- Starwood Waypoint Homes~$725.2MSold out · 0.0% → 0.0%−19,939,731 shares
- Lam Research~$423.8MCut · 0.1% → 0.1%−2,302,524 shares
- Brocade Communications Sys I~$417.5MSold out · 0.0% → 0.0%−34,936,322 shares
- Rice Energy Inc~$399.4MSold out · 0.0% → 0.0%−13,802,223 shares
Holdings
As of Dec 31, 2017. Changes are in shares against Sep 30, 2017, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +1.1% · price +9.8% | 2.6% | $58.97B | +$5.21B | ||||||||
| MicrosoftCOM · shares +1.7% · price +14.8% | 2.2% | $49.78B | +$6.32B | ||||||||
| AmazonCOM · shares +1.9% · price +21.6% | 1.4% | $32.60B | +$5.69B | ||||||||
| MetaCL A · shares +2.4% · price +3.3% | 1.3% | $29.97B | +$927.5M | ||||||||
| Johnson & JohnsonCOM · shares +1.3% · price +7.5% | 1.2% | $28.57B | +$1.96B | ||||||||
| Jpmorgan Chase & CoCOM · shares +0.01% · price +12.0% | 1.2% | $26.93B | +$2.88B | ||||||||
| Exxon Mobil CorpCOM · shares +1.3% · price +2.0% | 1.2% | $26.57B | +$520.4M | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares +1.5% · price +8.1% | 1.1% | $24.63B | +$1.82B | ||||||||
| AlphabetCAP STK CL C · shares +2.0% · price +9.1% | 0.98% | $22.40B | +$1.83B | ||||||||
| AlphabetCAP STK CL A · shares +2.0% · price +8.2% | 0.98% | $22.36B | +$1.66B | ||||||||
| Bank Amer CorpCOM · shares +1.0% · price +16.5% | 0.86% | $19.78B | +$2.77B | ||||||||
| Wells Fargo Co NewCOM · shares +0.5% · price +10.0% | 0.85% | $19.38B | +$1.75B | ||||||||
| Chevron Corp NewCOM · shares +0.8% · price +6.5% | 0.78% | $17.87B | +$1.09B | ||||||||
| AT&TCOM · shares +1.0% · price −0.7% | 0.75% | $17.08B | −$126.2M | ||||||||
| Procter And Gamble CoCOM · shares +1.0% · price +1.0% | 0.75% | $17.04B | +$165.3M | ||||||||
| IntelCOM · shares +1.1% · price +21.2% | 0.69% | $15.80B | +$2.74B | ||||||||
| Pfizer IncCOM · shares +1.9% · price +1.5% | 0.69% | $15.68B | +$221.0M | ||||||||
| Verizon Communications IncCOM · shares +0.9% · price +7.0% | 0.67% | $15.36B | +$989.4M | ||||||||
| Home Depot IncCOM · shares +0.5% · price +15.9% | 0.67% | $15.35B | +$2.09B | ||||||||
| Visa Inc.COM CL A · shares +0.9% · price +8.3% | 0.64% | $14.73B | +$1.12B | ||||||||
| Unitedhealth Group IncCOM · shares +1.5% · price +12.6% | 0.64% | $14.72B | +$1.62B | ||||||||
| CiscoCOM · shares +0.6% · price +13.9% | 0.60% | $13.79B | +$1.67B | ||||||||
| Pepsico IncCOM · shares +1.1% · price +7.6% | 0.60% | $13.79B | +$966.2M | ||||||||
| Citigroup IncCOM NEW · shares −1.5% · price +2.3% | 0.59% | $13.50B | +$303.0M | ||||||||
| Coca Cola CoCOM · shares +1.7% · price +1.9% | 0.57% | $13.04B | +$243.3M | ||||||||
| Total · 4,063 positions | 100% | $2.29T | +$117.25B |
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 2017 to Q4 2017: 3,929 stocks held throughout, up $117.25B (+5.5%).
- Microsoft+$6.32B+15%
- Amazon+$5.69B+22%
- Apple+$5.21B+10%
- Jpmorgan Chase & Co+$2.88B+12%
- Bank Amer Corp+$2.77B+16%
- Pg&E Corp−$906.0M−34%
- Allergan Plc−$950.7M−20%
- Merck & Co Inc−$1.53B−12%
- Celgene Corp−$2.26B−28%
- General Electric Co−$4.08B−28%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 7 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 ↗ |