13F filer · CIK 2100119 ↗
Vanguard Capital Management
You are looking at Q1 2023. See the latest, Q2 2026 →
Reported value
$3.93T
+6.9% on the quarter before
Positions
4,554
191 new · 163 sold out
Top 10
20.4%
of the value
Est. gain
+$218.07B
on stocks held all quarter
Est. return
+6.0%
on those stocks since Q4 2022
Positions as of Mar 31, 2023, 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, 31% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2022. Striped tiles are options.
Largest buys
Since Q4 2022, 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.
- Linde Plc~$15.70BNew · 0.0% → 0.4%+44,182,248 shares
- Apple~$5.22BAdded · 4.5% → 5.5%+31,628,350 shares
- GE HealthCare~$2.96BNew · 0.0% → 0.1%+36,035,581 shares
- Exxon Mobil Corp~$2.66BAdded · 1.1% → 1.1%+24,265,716 shares
- Microsoft~$1.98BAdded · 4.2% → 4.8%+6,879,405 shares
- Merck & Co Inc~$1.78BAdded · 0.7% → 0.7%+16,739,145 shares
- Paccar Inc~$1.72BAdded · 0.1% → 0.1%+23,544,870 shares
- Berkshire Hathaway Inc Del~$1.41BAdded · 1.2% → 1.1%+4,555,840 shares
- Vanguard Index Fds~$1.22BAdded · 0.1% → 0.2%+5,997,359 shares
- Amazon~$1.15BAdded · 1.6% → 1.9%+11,121,318 shares
Largest sells
Since Q4 2022, 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.
- Linde Plc~$15.22BSold out · 0.4% → 0.0%−46,650,053 shares
- Svb Financial Group~$1.53BSold out · 0.0% → 0.0%−6,657,712 shares
- Store Cap Corp~$1.21BSold out · 0.0% → 0.0%−37,659,141 shares
- Eli Lilly~$1.18BCut · 0.7% → 0.6%−3,432,481 shares
- Valero Energy Corp~$893.5MCut · 0.1% → 0.1%−6,400,569 shares
- Cadence~$846.4MCut · 0.1% → 0.2%−4,028,803 shares
- Signature Bk New York N Y~$840.1MSold out · 0.0% → 0.0%−7,291,217 shares
- Phillips 66~$802.3MCut · 0.1% → 0.1%−7,913,499 shares
- Trip Com Group Ltd~$596.3MCut · 0.0% → 0.0%−15,828,799 shares
- Coupa Software Inc~$570.5MSold out · 0.0% → 0.0%−7,206,556 shares
Holdings
As of Mar 31, 2023. Changes are in shares against Dec 31, 2022, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +2.5% · price +26.9% | 5.5% | $216.00B | +$44.70B | ||||||||
| MicrosoftCOM · shares +1.1% · price +20.2% | 4.8% | $187.26B | +$31.16B | ||||||||
| AmazonCOM · shares +1.6% · price +23.0% | 1.9% | $74.70B | +$13.74B | ||||||||
| NvidiaCOM · shares +0.5% · price +90.1% | 1.5% | $57.13B | +$26.93B | ||||||||
| AlphabetCAP STK CL A · shares +1.0% · price +17.6% | 1.3% | $50.50B | +$7.48B | ||||||||
| TeslaCOM · shares +1.3% · price +68.4% | 1.2% | $45.77B | +$18.36B | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares +3.3% · price −0.0% | 1.1% | $44.09B | −$18.0M | ||||||||
| AlphabetCAP STK CL C · shares −0.8% · price +17.2% | 1.1% | $43.60B | +$6.40B | ||||||||
| Exxon Mobil CorpCOM · shares +6.6% · price −0.6% | 1.1% | $43.09B | −$235.9M | ||||||||
| Unitedhealth Group IncCOM · shares +0.4% · price −10.9% | 1.0% | $39.86B | −$4.84B | ||||||||
| MetaCL A · shares +0.1% · price +76.1% | 0.98% | $38.34B | +$16.55B | ||||||||
| Johnson & JohnsonCOM · shares +0.04% · price −12.3% | 0.97% | $38.27B | −$5.34B | ||||||||
| Jpmorgan Chase & CoCOM · shares +0.3% · price −2.8% | 0.91% | $35.88B | −$1.04B | ||||||||
| Procter And Gamble CoCOM · shares −0.1% · price −1.9% | 0.85% | $33.52B | −$647.1M | ||||||||
| Visa Inc.COM CL A · shares −0.3% · price +8.5% | 0.84% | $33.11B | +$2.60B | ||||||||
| MastercardCL A · shares −0.6% · price +4.5% | 0.72% | $28.26B | +$1.22B | ||||||||
| Home Depot IncCOM · shares −0.4% · price −6.6% | 0.71% | $28.03B | −$1.97B | ||||||||
| Chevron Corp NewCOM · shares +1.0% · price −9.1% | 0.67% | $26.21B | −$2.60B | ||||||||
| Merck & Co IncCOM · shares +7.4% · price −4.1% | 0.66% | $25.95B | −$1.04B | ||||||||
| BroadcomCOM · shares +2.9% · price +14.7% | 0.66% | $25.76B | +$3.22B | ||||||||
| Abbvie IncCOM · shares +1.4% · price −1.4% | 0.65% | $25.57B | −$354.6M | ||||||||
| Eli LillyCOM · shares −4.7% · price −6.1% | 0.61% | $24.04B | −$1.57B | ||||||||
| Pepsico IncCOM · shares +0.7% · price +0.9% | 0.61% | $23.95B | +$214.0M | ||||||||
| Coca Cola CoCOM · shares +0.5% · price −2.5% | 0.58% | $22.96B | −$581.7M | ||||||||
| Pfizer IncCOM · shares +1.3% · price −20.4% | 0.53% | $20.74B | −$5.24B | ||||||||
| Total · 4,554 positions | 100% | $3.93T | +$218.07B |
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 Q4 2022 to Q1 2023: 4,363 stocks held throughout, up $218.07B (+6.0%).
- Apple+$44.70B+27%
- Microsoft+$31.16B+20%
- Nvidia+$26.93B+90%
- Tesla+$18.36B+68%
- Meta+$16.55B+76%
- Bank America Corp−$2.75B−14%
- Schwab Charles Corp−$3.89B−37%
- Unitedhealth Group Inc−$4.84B−11%
- Pfizer Inc−$5.24B−20%
- Johnson & Johnson−$5.34B−12%
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 ↗ |