13F filer · CIK 2100119 ↗
Vanguard Capital Management
You are looking at Q3 2018. See the latest, Q2 2026 →
Reported value
$2.56T
+7.0% on the quarter before
Positions
4,169
129 new · 89 sold out
Top 10
15.5%
of the value
Est. gain
+$143.47B
on stocks held all quarter
Est. return
+6.1%
on those stocks since Q2 2018
Positions as of Sep 30, 2018, 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, 25% of the reported value, each sized by its share, colored by what the fund did with it since Q2 2018. Striped tiles are options.
Largest buys
Since Q2 2018, 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.
- Amazon~$1.04BAdded · 2.1% → 2.3%+516,913 shares
- Kkr & Co Inc~$1.03BNew · 0.0% → 0.0%+37,674,357 shares
- Microsoft~$1.01BAdded · 2.3% → 2.6%+8,820,439 shares
- Concho Res Inc~$821.9MAdded · 0.1% → 0.1%+5,380,400 shares
- Prologis~$820.0MAdded · 0.2% → 0.2%+12,095,509 shares
- Williams Companies~$816.5MAdded · 0.1% → 0.1%+30,031,200 shares
- Berkshire Hathaway Inc Del~$650.5MAdded · 1.0% → 1.1%+3,037,951 shares
- Brookfield Property Reit Inc~$535.9MNew · 0.0% → 0.0%+25,604,581 shares
- American Tower~$520.1MAdded · 0.3% → 0.3%+3,579,249 shares
- Broadcom~$516.9MAdded · 0.3% → 0.3%+2,094,847 shares
Largest sells
Since Q2 2018, 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.
- Apple~$2.06BCut · 2.7% → 3.0%−9,125,559 shares
- Dr Pepper Snapple Group Inc~$1.88BSold out · 0.1% → 0.0%−15,369,757 shares
- Ggp Inc~$1.69BSold out · 0.1% → 0.0%−82,774,612 shares
- Xl Group Ltd~$1.48BSold out · 0.1% → 0.0%−26,437,189 shares
- Dct Industrial Trust Inc~$901.8MSold out · 0.0% → 0.0%−13,514,085 shares
- Andeavor~$706.8MCut · 0.1% → 0.1%−4,604,259 shares
- Ross Stores Inc~$547.4MCut · 0.1% → 0.1%−5,523,285 shares
- Bank Of The Ozarks~$516.5MSold out · 0.0% → 0.0%−11,468,153 shares
- Boeing Co~$508.3MCut · 0.6% → 0.6%−1,366,666 shares
- Cavium Inc~$501.1MSold out · 0.0% → 0.0%−5,793,393 shares
Holdings
As of Sep 30, 2018. Changes are in shares against Jun 30, 2018, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares −2.6% · price +21.9% | 3.0% | $76.47B | +$13.76B | ||||||||
| MicrosoftCOM · shares +1.6% · price +16.0% | 2.6% | $66.09B | +$8.97B | ||||||||
| AmazonCOM · shares +1.8% · price +17.8% | 2.3% | $59.29B | +$8.82B | ||||||||
| Johnson & JohnsonCOM · shares +1.5% · price +13.9% | 1.2% | $29.49B | +$3.54B | ||||||||
| Jpmorgan Chase & CoCOM · shares +0.03% · price +8.3% | 1.1% | $28.77B | +$2.20B | ||||||||
| MetaCL A · shares −0.3% · price −15.4% | 1.1% | $28.36B | −$5.15B | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares +2.4% · price +14.7% | 1.1% | $28.27B | +$3.54B | ||||||||
| Exxon Mobil CorpCOM · shares +1.0% · price +2.8% | 1.1% | $28.02B | +$747.2M | ||||||||
| AlphabetCAP STK CL C · shares −0.3% · price +7.0% | 1.0% | $25.88B | +$1.69B | ||||||||
| AlphabetCAP STK CL A · shares −0.7% · price +6.9% | 1.0% | $25.76B | +$1.66B | ||||||||
| Visa Inc.COM CL A · shares +0.5% · price +13.3% | 0.78% | $19.97B | +$2.34B | ||||||||
| Bank Amer CorpCOM · shares −0.2% · price +4.5% | 0.77% | $19.80B | +$853.7M | ||||||||
| Pfizer IncCOM · shares +1.5% · price +21.5% | 0.76% | $19.47B | +$3.39B | ||||||||
| Unitedhealth Group IncCOM · shares +1.6% · price +8.4% | 0.72% | $18.45B | +$1.41B | ||||||||
| Chevron Corp NewCOM · shares +1.3% · price −3.3% | 0.72% | $18.33B | −$614.1M | ||||||||
| AT&TCOM · shares +0.6% · price +4.6% | 0.70% | $17.83B | +$775.6M | ||||||||
| CiscoCOM · shares +0.2% · price +13.1% | 0.68% | $17.40B | +$2.01B | ||||||||
| Home Depot IncCOM · shares +0.3% · price +6.2% | 0.67% | $17.19B | +$996.6M | ||||||||
| Wells Fargo Co NewCOM · shares +0.1% · price −5.2% | 0.67% | $17.18B | −$939.8M | ||||||||
| IntelCOM · shares +0.8% · price −4.9% | 0.66% | $16.95B | −$860.2M | ||||||||
| Verizon Communications IncCOM · shares +1.3% · price +6.1% | 0.63% | $16.22B | +$923.6M | ||||||||
| Procter And Gamble CoCOM · shares +0.5% · price +6.6% | 0.61% | $15.68B | +$969.6M | ||||||||
| Boeing CoCOM · shares −3.2% · price +10.8% | 0.60% | $15.48B | +$1.51B | ||||||||
| MastercardCL A · shares +0.9% · price +13.3% | 0.60% | $15.43B | +$1.79B | ||||||||
| Merck & Co IncCOM · shares +0.5% · price +16.9% | 0.56% | $14.39B | +$2.07B | ||||||||
| Total · 4,169 positions | 100% | $2.56T | +$143.47B |
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 Q2 2018 to Q3 2018: 4,039 stocks held throughout, up $143.47B (+6.1%).
- Apple+$13.76B+22%
- Microsoft+$8.97B+16%
- Amazon+$8.82B+18%
- Berkshire Hathaway Inc Del+$3.54B+15%
- Johnson & Johnson+$3.54B+14%
- Intel−$860.2M−5%
- Wells Fargo Co New−$939.8M−5%
- Twitter Inc−$1.04B−35%
- General Electric Co−$1.46B−17%
- Meta−$5.15B−15%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 4 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 ↗ |