13F filer · CIK 2100119 ↗
Vanguard Capital Management
You are looking at Q4 2023. See the latest, Q2 2026 →
Reported value
$4.58T
+12% on the quarter before
Positions
4,497
134 new · 173 sold out
Top 10
23.4%
of the value
Est. gain
+$467.55B
on stocks held all quarter
Est. return
+11.6%
on those stocks since Q3 2023
Positions as of Dec 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, 34% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2023. Striped tiles are options.
Largest buys
Since Q3 2023, 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.
- Microsoft~$5.90BAdded · 5.0% → 5.5%+15,701,937 shares
- Apple~$3.48BAdded · 5.5% → 5.5%+18,067,216 shares
- Broadcom~$3.45BAdded · 0.8% → 1.1%+3,089,798 shares
- Uber~$2.66BAdded · 0.1% → 0.2%+43,275,830 shares
- Veralto Corp~$2.13BNew · 0.0% → 0.0%+25,861,055 shares
- Amazon~$2.00BAdded · 2.4% → 2.6%+13,134,632 shares
- Bunge Global Sa~$1.91BNew · 0.0% → 0.0%+18,954,832 shares
- Newmont Corp~$1.50BAdded · 0.1% → 0.1%+36,170,995 shares
- Lululemon Athletica Inc~$1.21BAdded · 0.1% → 0.1%+2,369,119 shares
- Meta~$1.10BAdded · 1.4% → 1.4%+3,104,550 shares
Largest sells
Since Q3 2023, 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.
- Activision Blizzard Inc~$5.64BSold out · 0.1% → 0.0%−60,267,366 shares
- Seagen Inc~$2.83BSold out · 0.1% → 0.0%−13,321,042 shares
- Vmware Inc~$2.60BSold out · 0.1% → 0.0%−15,640,289 shares
- Horizon Therapeutics Pub L~$2.50BSold out · 0.1% → 0.0%−21,587,441 shares
- Bunge Limited~$1.99BSold out · 0.0% → 0.0%−18,376,767 shares
- National Instrs Corp~$825.6MSold out · 0.0% → 0.0%−13,848,115 shares
- Hostess Brands Inc~$507.9MSold out · 0.0% → 0.0%−15,248,613 shares
- New Relic Inc~$476.6MSold out · 0.0% → 0.0%−5,566,383 shares
- Denbury Inc~$472.6MSold out · 0.0% → 0.0%−4,821,902 shares
- Cnh Indl N V~$381.7MCut · 0.0% → 0.0%−31,335,576 shares
Holdings
As of Dec 31, 2023. Changes are in shares against Sep 30, 2023, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +1.4% · price +12.5% | 5.5% | $253.77B | +$27.72B | ||||||||
| MicrosoftCOM · shares +2.4% · price +19.1% | 5.5% | $250.03B | +$39.14B | ||||||||
| AmazonCOM · shares +1.7% · price +19.5% | 2.6% | $117.16B | +$18.81B | ||||||||
| NvidiaCOM · shares +0.4% · price +13.8% | 2.2% | $101.28B | +$12.27B | ||||||||
| AlphabetCAP STK CL A · shares +1.3% · price +6.7% | 1.5% | $68.98B | +$4.30B | ||||||||
| MetaCL A · shares +1.7% · price +17.9% | 1.4% | $65.96B | +$9.85B | ||||||||
| AlphabetCAP STK CL C · shares +0.2% · price +6.9% | 1.3% | $57.92B | +$3.72B | ||||||||
| TeslaCOM · shares +1.7% · price −0.7% | 1.2% | $57.10B | −$393.1M | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares +0.4% · price +1.8% | 1.1% | $51.90B | +$921.3M | ||||||||
| BroadcomCOM · shares +7.7% · price +34.4% | 1.1% | $48.39B | +$11.50B | ||||||||
| Jpmorgan Chase & CoCOM · shares +0.03% · price +17.3% | 1.0% | $46.34B | +$6.83B | ||||||||
| Unitedhealth Group IncCOM · shares +0.3% · price +4.4% | 0.96% | $44.15B | +$1.86B | ||||||||
| Eli LillyCOM · shares +1.5% · price +8.5% | 0.91% | $41.74B | +$3.23B | ||||||||
| Exxon Mobil CorpCOM · shares +0.3% · price −15.0% | 0.85% | $38.85B | −$6.82B | ||||||||
| Visa Inc.COM CL A · shares +0.3% · price +13.2% | 0.80% | $36.82B | +$4.28B | ||||||||
| Johnson & JohnsonCOM · shares +0.04% · price +0.6% | 0.79% | $35.95B | +$227.0M | ||||||||
| Procter And Gamble CoCOM · shares −0.2% · price +0.5% | 0.72% | $32.96B | +$153.0M | ||||||||
| Home Depot IncCOM · shares +0.04% · price +14.7% | 0.72% | $32.74B | +$4.19B | ||||||||
| MastercardCL A · shares +1.0% · price +7.7% | 0.70% | $32.10B | +$2.28B | ||||||||
| Merck & Co IncCOM · shares +0.5% · price +5.9% | 0.58% | $26.69B | +$1.48B | ||||||||
| Costco Whsl Corp NewCOM · shares +1.2% · price +16.8% | 0.58% | $26.64B | +$3.79B | ||||||||
| Abbvie IncCOM · shares −0.2% · price +4.0% | 0.54% | $24.86B | +$948.0M | ||||||||
| Chevron Corp NewCOM · shares −0.2% · price −11.5% | 0.53% | $24.09B | −$3.14B | ||||||||
| AdobeCOM · shares +1.5% · price +17.0% | 0.52% | $24.02B | +$3.44B | ||||||||
| Pepsico IncCOM · shares +0.08% · price +0.2% | 0.49% | $22.30B | +$52.5M | ||||||||
| Total · 4,497 positions | 100% | $4.58T | +$467.55B |
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 2023 to Q4 2023: 4,363 stocks held throughout, up $467.55B (+11.6%).
- Microsoft+$39.14B+19%
- Apple+$27.72B+12%
- Amazon+$18.81B+20%
- Nvidia+$12.27B+14%
- Broadcom+$11.50B+34%
- Cisco−$1.24B−6%
- Bristol-Myers Squibb Co−$1.33B−12%
- Pfizer Inc−$2.22B−13%
- Chevron Corp New−$3.14B−12%
- Exxon Mobil Corp−$6.82B−15%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 2 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 ↗ |