VNQ · VANGUARD REAL ESTATE INDEX FUND · Holdings ETF

$91.98 -0.30 (-0.33%)

Volume · Oct 21 1.08M Avg daily vol (3M) 3.61M

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP →

Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.

Quarter:

Holders: 439

Total Value: $1,288,385,482

Total Shares: 14,374,492

Showing 1–100 of 439 holdings by value · page 1 of 5

Institutional Ownership Trend

27 quarters

Holder Concentration

Across 439 13F filers · Δ vs Jun 30, 2026

Top Holder

6.7%

−1.0 pts

Top 5

21.1%

−8.0 pts

Top 10

29.9%

−14.6 pts

HHI

161

Broadly held−94

Who Holds VNQ

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 1,811 filers, like-for-like change -0.3%; actively managed books -0.1%; index-like books -0.7%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	47.6%	1,232	-5.2%	82	55
Exempt adviser	0.0%	3	+93.6%	1	1
Adviser	1.0%	12	+36.5%	0	0
Bank	17.5%	55	-0.5%	2	0
Insurer	2.3%	3	+13.7%	0	0
Broker-dealer	1.0%	2	+0.4%	0	1
Benefit plan	0.0%	3	+3.2%	1	0
Non-US	0.3%	7	-26.4%	1	0
Holding company	5.7%	9	-4.2%	0	0
Unknown	24.5%	485	+10.0%	34	31

Style	Share	Filers	Change	New	Exited
Index-like	10.9%	15	-0.7%	0	0
Systematic-like	0.5%	12	-74.1%	6	5
Concentrated	26.5%	870	-7.6%	54	42
Diversified active	61.7%	911	+5.9%	61	39
Unknown	0.4%	3	-18.5%	0	2
Not measured	0.0%	0	—	0	0

Turnover	Share	Filers	Change	New	Exited
Low turnover	89.3%	1,362	+0.5%	70	40
Medium turnover	7.0%	219	+5.7%	21	17
High turnover	1.2%	39	-55.2%	13	15
Unknown	2.4%	191	+26.8%	17	16
Not measured	0.0%	0	—	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	2.5%	189	+26.4%	24	22
Medium horizon	5.7%	424	-30.3%	33	20
Long horizon	90.7%	1,159	+3.6%	56	40
Unknown	1.1%	39	-56.2%	8	6
Not measured	0.0%	0	—	0	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	12.2%	1,096	-1.5%	82	63
$1B to $10B	16.4%	543	-12.5%	23	18
$10B to $100B	34.2%	122	+3.4%	14	5
$100B or more	37.1%	50	+3.2%	2	2
Not measured	0.0%	0	—	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	43.4%	1,103	+2.4%	69	40
Pooled investment vehicles	0.4%	16	-77.9%	7	8
Registered funds and BDCs	1.5%	15	+59.9%	1	2
Pension and profit sharing plans	0.4%	20	-87.5%	0	0
Insurance companies	0.1%	4	+2.1%	0	1
Charitable organizations	0.1%	10	+15.6%	0	0
Governments and sovereign funds	0.2%	6	+5.8%	2	0
Banks and thrifts	0.0%	3	-5.9%	0	1
Corporations	0.1%	5	+6.1%	0	0
Other investment advisers	0.1%	10	+19.2%	1	1
Other	0.4%	4	+0.5%	0	0
Diversified	0.8%	33	-6.2%	2	2
Unknown	52.4%	582	+4.7%	39	33

Private funds	Share	Filers	Change	New	Exited
Hedge funds	1.2%	54	-54.8%	9	6
Private equity funds	8.4%	52	-1.6%	3	2
Venture capital funds	0.1%	7	-14.2%	0	0
Real estate funds	0.5%	17	+29.0%	1	1
Securitized asset funds	0.0%	1	-27.3%	0	0
Other private funds	2.8%	45	+44.9%	4	2
Mixed private funds	0.1%	11	-28.3%	0	1
Private funds, type not stated	0.2%	12	+26.2%	1	2
No private funds	34.4%	1,035	-5.4%	65	42
Unknown	52.4%	577	+4.7%	38	32

Location	Share	Filers	Change	New	Exited
United States	96.3%	1,755	-1.0%	110	82
Outside the US	3.7%	56	+25.3%	11	6

The Sep 30, 2026 filing window is still open, so its bar shows only the filers that have filed so far.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Excluded 21 holders with no observed 2026-03-31 13F and 29 holders with no observed 2026-06-30 13F. Compared across CIK changes: 4 filers continue as Evelyn Partners Group Ltd.

Conviction and Crowding

1,811 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

297

16.4% of filers hold it in their top 10

Mar 31, 2026: 357

Holders above 5%

median weight 0.101%

Mar 31, 2026: 53

Crowding

—

shares outstanding is an issuer-wide count, not one listing's

Private-fund advisers

—

of shares outstanding

Institutional ownership

—

shares outstanding is an issuer-wide count, not one listing's

Top 10 holders

44.9%

of 13F shares, Herfindahl 0.026

Active holders

-0.1%

like-for-like share change of active filers

5% stakes on record

0 13D, 0 13G

How long holders have held it value-weighted 22.1 quarters

Under 1 year 4.79% 1 to 3 years 6.69% 3 years or more 88.5% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$91.24

estimated per share

Mar 31, 2026: $89.60

Quarter-end price

$96.40

implied by 13F values

Estimated gain or loss

+5.7%

price against the estimated cost

Estimated at a loss

0.636%

of costed 13F value

Estimated cost covers 9.18% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Fund Ownership of VNQ by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 0 shares.

Fund type	Shares	Funds
Index funds	0	0
Index ETFs	0	0
Active ETFs	448,336	3
Active funds	155,159	3
Unclassified	132,456	1
All registered funds	735,951	7

How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Quarterly Activity

vs Jun 30, 2026

New

Increased

192

Decreased

154

Sold Out

Unchanged

New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.

Holder count: -1,382

Institutional value: -94.2%

Shares held: -93.7%

Top Buyers

vs Jun 30, 2026

Institution	Added	Now Holds
Mid Trilogy Capital Inc.	+59,353	234,304
Small ENCOMPASS WEALTH ADVISORS, LLC	+36,935	72,556
Small DEFINE FINANCIAL, LLC	+28,427	256,795
Large WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	+24,553	961,845
Small Brindle & Bay Financial Advisors, LLC	+22,087	63,507

Top Sellers

vs Jun 30, 2026

Institution	Sold	Now Holds
Small CAMBRIDGE CAPITAL MANAGEMENT, LLC	−81,629	107,970
Small FIDELIS iM, LLC	−61,172	4,112
Mid Avior Wealth Management, LLC	−37,577	133,376
Mid Beacon Capital Management, Inc.	−35,379	861,106
Small Westwind Capital	−25,805	2,755

Top New Positions

vs Jun 30, 2026

Institution	Acquired	Value (USD)
Small Vavra Capital Management, LLC	15,264	$1,368,112
Small Murphy, Middleton, Hinkle & Parker, Inc.	8,321	$745,811
Small Bison Wealth, LLC	7,290	$653,402
Mid Copeland Capital Management, LLC	4,228	$378,955
Small GEN Financial Management, INC.	3,628	$325,177

Top Sold-Out Positions

vs Jun 30, 2026

Institution	Previously Held	Last Value (USD)
Micro Newport Capital Group, LLC	16,794	$1,619,445
Small RETIREMENT FINANCIAL SOLUTIONS, LLC	15,263	$1,471,811
Small Harpswell Capital Advisors, LLC	6,980	$673,081
Mid Y-Intercept (Hong Kong) Ltd	5,649	$544,733
Small JUNCTURE WEALTH STRATEGIES, LLC	5,636	$543,479

Filter: New 14 Increased 192 Reduced 154 Sold out 29 Unchanged 73

Holder type: Registered adviser 291 Adviser 1 Bank 8 Unknown 139

Showing 100 of 439

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

WEALTH ENHANCEMENT ADVISORY SERVICES, LLC VNQ

$86,210,167

6.69%

961,845

Beacon Capital Management, Inc. VNQ

$77,180,930

5.99%

861,106

Pennsylvania State University VNQ

$53,081,933

4.12%

592,234

Prime Capital Investment Advisors, LLC VNQ

$32,176,004

2.50%

358,987

PATRIOT INVESTMENT MANAGEMENT GROUP, INC. VNQ

$23,401,944

1.82%

261,095

COMMUNITY TRUST & INVESTMENT CO VNQ

$23,368,421

1.81%

260,721

DEFINE FINANCIAL, LLC VNQ

$23,016,535

1.79%

256,795

KWMG, LLC VNQ

$22,955,945

1.78%

256,119

Rodgers & Associates, LTD VNQ

$22,371,199

1.74%

249,595

Trilogy Capital Inc. VNQ

$21,000,667

1.63%

234,304

CYPRESS FINANCIAL PLANNING LLC VNQ

$18,326,108

1.42%

204,464

SACHEM HILL LLC VNQ

$18,112,609

1.41%

202,082

TCV Trust & Wealth Management, Inc. VNQ

$17,646,712

1.37%

196,884

AA Financial Advisors, LLC VNQ

$17,250,727

1.34%

192,466

ACT WEALTH MANAGEMENT, LLC VNQ

$15,491,918

1.20%

172,843

Allodium Investment Consultants, LLC VNQ

$14,668,845

1.14%

163,660

Farther Finance Advisors, LLC VNQ

$14,543,811

1.13%

162,265

BLUESTEM FINANCIAL ADVISORS, LLC VNQ

$13,930,473

1.08%

155,422

Magnolia Wealth Management, LLC VNQ

$12,545,421

0.97%

139,969

FC Advisory LLC VNQ

$12,088,398

0.94%

134,870

Avior Wealth Management, LLC VNQ

$11,954,490

0.93%

133,376

Discipline Wealth Solutions, LLC VNQ

$11,778,816

0.91%

131,416

Financial Advisory Corp VNQ

$10,981,288

0.85%

122,518

Horizons Wealth Management VNQ

$10,920,608

0.85%

121,841

Prairiewood Capital, LLC VNQ

$10,744,754

0.83%

119,879

ATMOS ADVISORY, LLC VNQ

$10,480,256

0.81%

116,928

Advisory Solutions Group, LLC VNQ

$10,473,265

0.81%

116,850

Krilogy Financial LLC VNQ

$10,267,026

0.80%

114,549

Galvin, Gaustad & Stein, LLC VNQ

$10,217,730

0.79%

113,999

Vertex Investment Solutions Co., Ltd. VNQ

$9,835,637

0.76%

109,736

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Daiichi Life Group, Inc.	109,736	$9,835,637	100.0%	Defined

CAMBRIDGE CAPITAL MANAGEMENT, LLC VNQ

$9,677,351

0.75%

107,970

MOLLER WEALTH PARTNERS VNQ

$9,543,264

0.74%

106,474

Peterson Wealth Advisors, LLC VNQ

$9,473,263

0.74%

105,693

Keudell/Morrison Wealth Management VNQ

$9,062,130

0.70%

101,106

Marathon Strategic Advisors, LLC VNQ

$8,877,851

0.69%

99,050

AWM CAPITAL, LLC VNQ

$8,530,624

0.66%

95,176

Cambridge Advisors Inc. VNQ

$8,134,729

0.63%

90,759

BluePrint Investing LLC VNQ

$7,727,898

0.60%

86,220

WestHill Financial Advisors, Inc. VNQ

$7,686,489

0.60%

85,758

Financial Futures Ltd Liability Co. VNQ

$7,670,176

0.60%

85,576

MISSION WEALTH MANAGEMENT, LP VNQ

$7,650,368

0.59%

85,355

David Kennon Inc VNQ

$7,575,617

0.59%

84,521

HARBOR INVESTMENT ADVISORY, LLC VNQ

$7,564,682

0.59%

84,399

BAILARD, INC. VNQ

$7,420,019

0.58%

82,785

Ariston Services Group VNQ

$7,149,157

0.55%

79,763

PATTON FUND MANAGEMENT, INC. VNQ

$7,026,364

0.55%

78,393

KANAWHA CAPITAL MANAGEMENT LLC VNQ

$6,897,835

0.54%

76,959

Aletheian Wealth Advisors LLC VNQ

$6,845,222

0.53%

76,372

Connecticut Wealth Management, LLC VNQ

$6,777,999

0.53%

75,622

ENCOMPASS WEALTH ADVISORS, LLC VNQ

$6,503,194

0.50%

72,556

Investment Planning Advisors, Inc. VNQ

$6,311,654

0.49%

70,419

Factor Wealth Management LTD VNQ

$6,257,428

0.49%

69,814

Capital Advisors Wealth Management, LLC VNQ

$6,154,981

0.48%

68,671

Rainwater Charitable Foundation VNQ

$6,133,201

0.48%

68,428

DAVENPORT & Co LLC VNQ

$5,885,374

0.46%

65,663

LPWM LLC VNQ

$5,855,527

0.45%

65,330

Neumann Capital Management, LLC VNQ

$5,735,154

0.45%

63,987

Brindle & Bay Financial Advisors, LLC VNQ

$5,692,132

0.44%

63,507

Baron Financial Group, LLC VNQ

$5,665,691

0.44%

63,212

Everhart Financial Group, Inc. VNQ

$5,398,056

0.42%

60,226

ARK & TLK INVESTMENTS, LLC VNQ

$5,341,141

0.41%

59,591

Klingman & Associates, LLC VNQ

$5,112,495

0.40%

57,040

Kagan Cocozza Asset Management VNQ

$5,040,432

0.39%

56,236

Traveka Wealth, LLC VNQ

$4,978,767

0.39%

55,548

Concurrent Investment Advisors, LLC VNQ

$4,915,398

0.38%

54,841

Cherry Tree Wealth Management, LLC VNQ

$4,871,121

0.38%

54,347

PHILLIPS FINANCIAL MANAGEMENT, LLC VNQ

$4,861,441

0.38%

54,239

BOS Asset Management, LLC VNQ

$4,850,237

0.38%

54,114

Zeit Capital LLC VNQ

$4,817,612

0.37%

53,750

Financial & Tax Architects, LLC VNQ

$4,653,679

0.36%

51,921

Alhambra Investment Management LLC VNQ

$4,461,153

0.35%

49,773

Human Investing LLC VNQ

$4,369,731

0.34%

48,753

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Betterment LLC	1,613	$144,573	3.3%	Defined
Held directly	47,140	$4,225,158	96.7%	Sole

FAMILY WEALTH PARTNERS, LLC VNQ

$4,338,898

0.34%

48,409

INDEPENDENT FINANCIAL GROUP, LLC VNQ

$4,296,324

0.33%

47,934

Cordoba Advisory Partners LLC VNQ

$4,292,649

0.33%

47,893

LifeGuide Financial Advisors, LLC VNQ

$4,246,848

0.33%

47,382

Matrix Trust Co VNQ

$4,213,058

0.33%

47,005

IFG Advisors, LLC VNQ

$4,159,549

0.32%

46,408

MFA Wealth Services VNQ

$4,074,579

0.32%

45,460

Atria Investments, Inc VNQ

$4,043,209

0.31%

45,110

Marotta Asset Management VNQ

$3,977,600

0.31%

44,378

CHERRYDALE WEALTH MANAGEMENT, LLC VNQ

$3,891,555

0.30%

43,418

WOLFF WIESE MAGANA LLC VNQ

$3,860,722

0.30%

43,074

PARK NATIONAL CORP /OH/ VNQ

$3,856,330

0.30%

43,025

DWR WEALTH MANAGEMENT, LLC VNQ

$3,829,710

0.30%

42,728

Apella Capital, LLC VNQ

$3,822,181

0.30%

42,644

Intergy Private Wealth, LLC VNQ

$3,776,111

0.29%

42,130

Decker Retirement Planning Inc. VNQ

$3,706,469

0.29%

41,353

Grove Bank & Trust VNQ

$3,669,989

0.28%

40,946

Kure Advisory, LLC VNQ

$3,654,752

0.28%

40,776

BLUELINE ADVISORS LLC VNQ

$3,594,073

0.28%

40,099

RIVER'S EDGE WEALTH MANAGEMENT, LLC VNQ

$3,579,374

0.28%

39,935

Integrated Advisors Network LLC VNQ

$3,550,154

0.28%

39,609

Praetorian Wealth Management, Inc. VNQ

$3,520,218

0.27%

39,275

My Personal CFO, LLC VNQ

$3,517,618

0.27%

39,246

E&R Wealth Management, LLC VNQ

$3,483,738

0.27%

38,868

TMB Capital Partners, LLC VNQ

$3,481,856

0.27%

38,847

Plus Group Wealth Advisors LLC VNQ

$3,470,294

0.27%

38,718

Frisco Financial Planning LLC VNQ

$3,431,843

0.27%

38,289

Aureum Wealth Management, LLC VNQ

$3,378,692

0.26%

37,696

Showing the top 100 of 439 holders. Create a free account to see every holder, past quarters, search, filters and CSV export.