13F filer · CIK 2100119 ↗
Vanguard Capital Management
You are looking at Q2 2025. See the latest, Q2 2026 →
Reported value
$6.18T
+12% on the quarter before
Positions
4,274
145 new · 151 sold out
Top 10
28.8%
of the value
Est. gain
+$557.00B
on stocks held all quarter
Est. return
+10.1%
on those stocks since Q1 2025
Positions as of Jun 30, 2025, 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, 39% of the reported value, each sized by its share, colored by what the fund did with it since Q1 2025. Striped tiles are options.
Largest buys
Since Q1 2025, 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~$6.81BAdded · 4.7% → 5.7%+13,691,572 shares
- Nvidia~$6.24BAdded · 4.3% → 5.7%+39,465,689 shares
- Capital One Finl Corp~$5.13BAdded · 0.1% → 0.2%+24,129,990 shares
- Flutter Entmt Plc~$3.95BAdded · 0.0% → 0.1%+13,822,673 shares
- Amazon~$3.83BAdded · 2.9% → 3.0%+17,447,045 shares
- Apple~$3.11BAdded · 5.6% → 4.7%+15,141,995 shares
- Coinbase~$1.72BAdded · 0.1% → 0.1%+4,914,407 shares
- Broadcom~$1.72BAdded · 1.4% → 2.2%+6,222,802 shares
- Barrick Mng Corp~$1.46BNew · 0.0% → 0.0%+70,110,624 shares
- Tesla~$1.43BAdded · 1.2% → 1.3%+4,502,976 shares
Largest sells
Since Q1 2025, 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.
- Discover Finl Svcs~$5.32BSold out · 0.1% → 0.0%−31,151,624 shares
- Amphenol~$1.43BCut · 0.2% → 0.2%−14,465,908 shares
- Barrick Gold Corp~$1.34BSold out · 0.0% → 0.0%−68,861,295 shares
- Intra-Cellular Therapies Inc~$1.26BSold out · 0.0% → 0.0%−9,519,968 shares
- Welltower Inc~$1.02BCut · 0.3% → 0.2%−6,603,846 shares
- Microstrategy Inc~$827.6MCut · 0.1% → 0.1%−2,047,255 shares
- United States Stl Corp New~$824.7MSold out · 0.0% → 0.0%−19,516,084 shares
- Berry Global Group Inc~$794.9MSold out · 0.0% → 0.0%−11,386,915 shares
- Rocket Lab Usa Inc~$715.7MSold out · 0.0% → 0.0%−40,029,546 shares
- Azek Co Inc~$701.5MCut · 0.0% → 0.0%−12,907,807 shares
Holdings
As of Jun 30, 2025. Changes are in shares against Mar 31, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| NvidiaCOM · shares +1.8% · price +45.8% | 5.7% | $352.70B | +$108.79B | ||||||||
| MicrosoftCOM · shares +2.0% · price +32.5% | 5.7% | $350.71B | +$84.36B | ||||||||
| AppleCOM · shares +1.1% · price −7.6% | 4.7% | $290.51B | −$23.76B | ||||||||
| AmazonCOM · shares +2.1% · price +15.3% | 3.0% | $186.42B | +$24.24B | ||||||||
| MetaCL A · shares +0.8% · price +28.1% | 2.3% | $142.15B | +$30.90B | ||||||||
| BroadcomCOM · shares +1.3% · price +64.6% | 2.2% | $133.26B | +$51.64B | ||||||||
| AlphabetCAP STK CL A · shares +1.3% · price +14.0% | 1.5% | $91.03B | +$11.01B | ||||||||
| TeslaCOM · shares +1.8% · price +22.6% | 1.3% | $79.86B | +$14.44B | ||||||||
| Jpmorgan Chase & Co.COM · shares −0.3% · price +18.2% | 1.3% | $78.84B | +$12.13B | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares +1.7% · price −8.8% | 1.2% | $74.38B | −$7.05B | ||||||||
| AlphabetCAP STK CL C · shares +1.3% · price +13.5% | 1.2% | $73.93B | +$8.71B | ||||||||
| Eli LillyCOM · shares +1.5% · price −5.6% | 1.0% | $62.68B | −$3.67B | ||||||||
| Visa Inc.COM CL A · shares +0.9% · price +1.3% | 0.93% | $57.71B | +$739.4M | ||||||||
| NetflixCOM · shares +1.0% · price +43.6% | 0.83% | $51.39B | +$15.45B | ||||||||
| Exxon Mobil CorpCOM · shares +0.3% · price −9.4% | 0.75% | $46.47B | −$4.79B | ||||||||
| MastercardCL A · shares +1.2% · price +2.5% | 0.71% | $44.10B | +$1.07B | ||||||||
| Costco Whsl Corp NewCOM · shares +1.7% · price +4.7% | 0.69% | $42.92B | +$1.88B | ||||||||
| Walmart IncCOM · shares +1.4% · price +11.4% | 0.68% | $42.22B | +$4.26B | ||||||||
| Procter And Gamble CoCOM · shares +1.4% · price −6.5% | 0.60% | $37.16B | −$2.55B | ||||||||
| Johnson & JohnsonCOM · shares +1.3% · price −7.9% | 0.59% | $36.21B | −$3.06B | ||||||||
| Home Depot IncCOM · shares +1.5% · price +0.0% | 0.58% | $35.92B | +$14.5M | ||||||||
| OracleCOM · shares +2.1% · price +56.4% | 0.58% | $35.92B | +$12.68B | ||||||||
| Abbvie IncCOM · shares +1.9% · price −11.4% | 0.53% | $32.91B | −$4.16B | ||||||||
| Bank America CorpCOM · shares −0.3% · price +13.4% | 0.49% | $30.24B | +$3.57B | ||||||||
| Unitedhealth Group IncCOM · shares +0.2% · price −40.4% | 0.46% | $28.36B | −$19.21B | ||||||||
| Total · 4,274 positions | 100% | $6.18T | +$557.00B |
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 Q1 2025 to Q2 2025: 4,129 stocks held throughout, up $557.00B (+10.1%).
- Nvidia+$108.79B+46%
- Microsoft+$84.36B+33%
- Broadcom+$51.64B+65%
- Meta+$30.90B+28%
- Amazon+$24.24B+15%
- Abbvie Inc−$4.16B−11%
- Exxon Mobil Corp−$4.79B−9%
- Berkshire Hathaway Inc Del−$7.05B−9%
- Unitedhealth Group Inc−$19.21B−40%
- Apple−$23.76B−8%
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 ↗ |