13F filer · CIK 2100119 ↗
Vanguard Capital Management
You are looking at Q3 2025. See the latest, Q2 2026 →
Reported value
$6.68T
+8.1% on the quarter before
Positions
4,344
212 new · 142 sold out
Top 10
30.6%
of the value
Est. gain
+$471.77B
on stocks held all quarter
Est. return
+7.7%
on those stocks since Q2 2025
Positions as of Sep 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, 41% of the reported value, each sized by its share, colored by what the fund did with it since Q2 2025. Striped tiles are options.
Largest buys
Since Q2 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.
- AppLovin~$5.07BAdded · 0.1% → 0.3%+7,051,663 shares
- Chevron Corp New~$4.34BAdded · 0.4% → 0.4%+27,961,463 shares
- Robinhood~$2.70BAdded · 0.1% → 0.2%+18,824,923 shares
- Synopsys~$1.54BAdded · 0.1% → 0.1%+3,120,401 shares
- Palantir~$1.49BAdded · 0.5% → 0.6%+8,168,604 shares
- Datadog~$1.39BAdded · 0.1% → 0.1%+9,748,738 shares
- Oracle~$1.32BAdded · 0.6% → 0.7%+4,681,626 shares
- Marvell Technology Inc~$1.28BAdded · 0.1% → 0.1%+15,166,976 shares
- Schlumberger Ltd~$1.20BAdded · 0.1% → 0.1%+35,057,313 shares
- Southstate Bk Corp~$1.07BNew · 0.0% → 0.0%+10,775,431 shares
Largest sells
Since Q2 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.
- Hess Corp~$4.76BSold out · 0.1% → 0.0%−34,341,648 shares
- Apple~$4.20BCut · 4.7% → 5.3%−16,505,642 shares
- Ansys Inc~$3.90BSold out · 0.1% → 0.0%−11,117,754 shares
- Jpmorgan Chase & Co.~$1.91BCut · 1.3% → 1.3%−6,059,595 shares
- Amphenol~$1.89BCut · 0.2% → 0.2%−15,302,056 shares
- Juniper Networks Inc~$1.74BSold out · 0.0% → 0.0%−43,504,086 shares
- Nvidia~$1.66BCut · 5.7% → 6.2%−8,911,158 shares
- Microsoft~$1.60BCut · 5.7% → 5.4%−3,091,104 shares
- Broadcom~$1.54BCut · 2.2% → 2.4%−4,655,352 shares
- Southstate Corporation~$979.7MSold out · 0.0% → 0.0%−10,645,073 shares
Holdings
As of Sep 30, 2025. Changes are in shares against Jun 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| NvidiaCOM · shares −0.4% · price +18.1% | 6.2% | $414.87B | +$63.57B | ||||||||
| MicrosoftCOM · shares −0.4% · price +4.1% | 5.4% | $363.59B | +$14.42B | ||||||||
| AppleCOM · shares −1.2% · price +24.1% | 5.3% | $356.34B | +$69.22B | ||||||||
| AmazonCOM · shares +0.07% · price +0.1% | 2.8% | $186.71B | +$152.9M | ||||||||
| BroadcomCOM · shares −1.0% · price +19.7% | 2.4% | $157.96B | +$25.98B | ||||||||
| MetaCL A · shares +0.07% · price −0.5% | 2.1% | $141.53B | −$714.5M | ||||||||
| AlphabetCAP STK CL A · shares −0.02% · price +37.9% | 1.9% | $125.55B | +$34.53B | ||||||||
| TeslaCOM · shares +0.4% · price +40.0% | 1.7% | $112.24B | +$31.94B | ||||||||
| AlphabetCAP STK CL C · shares −0.9% · price +37.3% | 1.5% | $100.56B | +$27.32B | ||||||||
| Jpmorgan Chase & Co.COM · shares −2.2% · price +8.8% | 1.3% | $83.87B | +$6.79B | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares +0.8% · price +3.5% | 1.2% | $77.59B | +$2.60B | ||||||||
| Eli LillyCOM · shares +0.7% · price −2.1% | 0.92% | $61.77B | −$1.33B | ||||||||
| Visa Inc.COM CL A · shares −1.6% · price −3.9% | 0.82% | $54.59B | −$2.19B | ||||||||
| Exxon Mobil CorpCOM · shares −0.4% · price +4.6% | 0.72% | $48.42B | +$2.13B | ||||||||
| OracleCOM · shares +2.8% · price +28.6% | 0.71% | $47.52B | +$10.29B | ||||||||
| NetflixCOM · shares +0.4% · price −10.5% | 0.69% | $46.18B | −$5.38B | ||||||||
| MastercardCL A · shares +1.2% · price +1.2% | 0.68% | $45.18B | +$539.1M | ||||||||
| Walmart IncCOM · shares +0.9% · price +5.4% | 0.67% | $44.90B | +$2.28B | ||||||||
| Johnson & JohnsonCOM · shares −0.2% · price +21.4% | 0.66% | $43.87B | +$7.73B | ||||||||
| Abbvie IncCOM · shares +0.3% · price +24.7% | 0.62% | $41.16B | +$8.14B | ||||||||
| Costco Whsl Corp NewCOM · shares +0.2% · price −6.5% | 0.60% | $40.22B | −$2.79B | ||||||||
| Home Depot IncCOM · shares +0.3% · price +10.5% | 0.60% | $39.83B | +$3.78B | ||||||||
| PalantirCL A · shares +4.0% · price +33.8% | 0.58% | $39.02B | +$9.48B | ||||||||
| Procter And Gamble CoCOM · shares +0.6% · price −3.6% | 0.54% | $36.05B | −$1.32B | ||||||||
| Bank America CorpCOM · shares −1.8% · price +9.0% | 0.48% | $32.38B | +$2.68B | ||||||||
| Total · 4,344 positions | 100% | $6.68T | +$471.77B |
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 2025 to Q3 2025: 4,132 stocks held throughout, up $471.77B (+7.7%).
- Apple+$69.22B+24%
- Nvidia+$63.57B+18%
- Alphabet+$34.53B+38%
- Tesla+$31.94B+40%
- Alphabet+$27.32B+37%
- Intuit−$2.90B−13%
- Salesforce−$3.17B−13%
- Intuitive Surgical−$3.21B−18%
- Accenture Plc Ireland−$3.41B−17%
- Netflix−$5.38B−10%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 8 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 ↗ |