VANGUARD GROUP INC

Registered adviser

CIK

102909

Location

Valley Forge, PA

Portfolio Value

Mega $6,893,928,712,606

Diversification

Diversified

Reports for

VANGUARD FIDUCIARY TRUST CO Vanguard Investments Australia, Ltd. VANGUARD ADVISERS INC Vanguard Global Advisers, LLC Vanguard National Trust Co VANGUARD ASSET MANAGEMENT, Ltd

Files via

Vanguard Personalized Indexing Management, LLC

Filing Date

Global Rank

#1 / 8,853 — · as of Dec 2025

Top Industry

Semiconductors 11.1%

Period ended 10 months ago

Filed Jan 29, 2026 · 9mo

24 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 105958

Roster of Nov 1, 2026

Regulatory AUM

$11,092,665,107,962

Main clients

Registered funds and BDCs (100% of AUM)

Registered funds advised

186 series (101 index, 98 ETFs)

$10,019,665,507,856 net assets· N-CEN Jan 31, 2026

LEI

5493002789CX3L0CJP65

Private funds on Schedule D 7.B.(1)

As filed Dec 18, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$276,012,482 gross assets in 1 fund Hedge funds $276,012,482 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$11,092,665,107,962	Registered funds and BDCs (100%)
Apr 2025 to Mar 2026	$10,246,596,045,633	Registered funds and BDCs (100%)
Apr 2024 to Mar 2025	$7,909,760,294,676	Registered funds and BDCs (100%)
May 2023 to Mar 2024	$6,649,219,111,273	Registered funds and BDCs (100%)
Apr 2023	$6,649,219,111,273	Registered funds and BDCs (100%)
Apr 2022 to Mar 2023	$7,796,091,304,104	Registered funds and BDCs (100%)

3 earlier changes not shown.

13F reports continue under

Vanguard Investments Australia, Ltd. from Mar 31, 2026 VANGUARD ASSET MANAGEMENT, Ltd from Mar 31, 2026 Vanguard Global Advisers, LLC from Mar 31, 2026 Vanguard National Trust Co from Mar 31, 2026 VANGUARD CAPITAL MANAGEMENT LLC from Mar 31, 2026 VANGUARD PORTFOLIO MANAGEMENT LLC from Mar 31, 2026 VANGUARD MARKETING CORPORATION from Mar 31, 2026 VANGUARD FIDUCIARY TRUST CO from Mar 31, 2026 VANGUARD ADVISERS INC from Mar 31, 2026

Schedule 13D/13G stakes

Stakes of 5% or more disclosed on Schedule 13D or 13G, each on the filer's latest filing for the security. These are event-dated stakes, not the quarter-end 13F portfolio below.

Company	Schedule	Event date	Filed	Shares	% of class	Change	Status
SAVE now FLYYQ Spirit Aviation Holdings, Inc.	13G/A	Sep 30, 2024	1y	6,134,851	5.6%	-4,284,052 since Dec 29, 2023	Unconfirmed since Sep 30, 2024
ACGP Associated Capital Group, Inc.	13G/A	Dec 29, 2023	2y	162,902	6.17%	—	Unconfirmed since Dec 29, 2023
AEL now ANG-PD American National Group Inc.	13G/A	Dec 29, 2023	2y	8,636,001	10.93%	—	Unconfirmed since Dec 29, 2023
BCOW 1895 Bancorp of Wisconsin, Inc.	13G/A	Dec 29, 2023	2y	450,277	7.37%	—	Unconfirmed since Dec 29, 2023
PINC now AAAD PGIM ETF Trust	13G/A	Dec 29, 2023	2y	14,213,088	11.88%	—	Unconfirmed since Dec 29, 2023

A 13D or 13G stays in force until its filer amends it and no amendment is due without a material change, so a stake with no filing in 24 months reads unconfirmed, never sold. An amendment reporting under 5% ends the filer's duty to amend, not necessarily the holding. Shares are restated onto today's split basis. Show 2,694 exited, below-5% or retired stakes

Portfolio style

Measured from the filed 13F common-share book for Dec 31, 2025, never from the firm's own description.

Style

Index-like

Active share 10.5% against the Russell 1000 as of 2025-12-31, across 4,161 stocks (index-like at 20% or less with 100+ stocks)

Turnover

Low turnover

2.0% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 23.3 quarters (12+), a floor since 92.6% of the book was already held when coverage starts

Closest benchmark: the Russell 1000 as of 2025-12-31, active share 10.5%; sector active share 11.2% against the combined 13F book's sector weights.

Over time 24 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

4,312 tracked positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

6.1%

−0.1 pts

Top 5

23.9%

+0.7 pts

Top 10

32.5%

+0.7 pts

HHI

152

Diversified+5

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Technology	31.9%	$2,201,513,412,143	601
Financial Services	13.5%	$927,581,437,493	631
Consumer Cyclical	9.9%	$682,768,444,346	432
Healthcare	9.8%	$673,878,240,530	839
Communication Services	9.0%	$621,612,205,186	184
Industrials	8.8%	$606,763,895,711	536
Consumer Defensive	4.5%	$307,853,311,925	178
Energy	3.4%	$231,574,109,623	177
Real Estate	3.2%	$222,179,557,801	238
Utilities	2.5%	$174,909,659,490	89
Basic Materials	2.3%	$155,786,636,092	197
Unclassified	1.3%	$87,507,802,266	210

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NFLX	Netflix Inc	+351,493,659	390,014,981	$36,567,804,615
NOW	ServiceNow, Inc.	+81,752,460	101,963,384	$15,619,770,792
RKT	Rocket Companies, Inc.	+64,311,040	87,256,540	$1,689,286,613
NVDA	Nvidia Corp	+43,149,475	2,266,683,275	$422,736,430,787
OPEN	Opendoor Technologies Inc.	+42,069,898	110,258,796	$642,808,778
BN	BROOKFIELD Corp	+31,543,313	92,103,120	$4,226,612,175
ASST	Strive, Inc.	+27,154,515	27,637,577	$20,396,530
AAPL	Apple Inc.	+26,856,752	1,426,283,914	$387,749,544,856
FLEX	Flex Ltd.	+25,662,586	38,746,330	$2,341,053,255
BAC	Bank Of America Corp	+23,351,183	651,076,825	$35,809,225,375
BURU	Nuburu, Inc.	+21,327,606	22,050,356	$3,506,007
GPUS	Hyperscale Data, Inc.	+20,620,043	20,941,119	$3,922,691
CRWV	CoreWeave, Inc.	+20,487,478	27,920,979	$1,999,421,304
PLUG	Plug Power Inc	+19,967,339	129,599,295	$255,310,609
BYND	Beyond Meat, Inc.	+19,746,631	24,526,676	$20,111,872
CMG	Chipotle Mexican Grill Inc	+18,660,882	144,588,220	$5,349,764,140
AUR	Aurora Innovation, Inc.	+17,818,179	160,567,323	$616,578,517
MSFT	Microsoft Corp	+15,955,898	717,942,580	$347,211,390,536
OMC	Omnicom Group Inc.	+15,220,444	38,934,118	$3,143,930,026
CRH	Crh Public Ltd Co	+14,623,673	79,117,664	$9,873,884,465
HBAN	Huntington Bancshares Inc	+14,338,222	191,319,041	$3,319,385,358
INTC	Intel Corp	+13,692,624	404,522,308	$14,926,873,163
GOOGL	Alphabet Inc.	+12,531,695	528,969,322	$165,567,397,786
UEC	Uranium Energy Corp	+11,521,597	47,247,813	$551,854,454
DNN	Denison Mines Corp.	+10,696,852	23,960,755	$63,735,605
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
LXP	LXP Industrial Trust	−36,790,102	8,907,954	$441,656,356
HPP	Hudson Pacific Properties, Inc.	−32,907,860	5,546,116	$60,064,435
SENS	Senseonics Holdings, Inc.	−32,386,260	1,833,224	$10,119,395
SABR	Sabre Corp	−6,032,681	27,800,161	$37,808,216
AGL	agilon health, inc.	−5,970,795	18,321,808	$12,623,724
HL	Hecla Mining Co	−5,685,267	65,663,792	$1,260,088,166
OPK	Opko Health, Inc.	−5,078,109	32,457,788	$40,896,811
AMZN	Amazon Com Inc	−4,937,929	845,400,528	$195,135,349,870
BDN	Brandywine Realty Trust	−4,161,801	21,770,712	$63,570,476
—		−4,128,296	297,247	$2,696,031
WMG	Warner Music Group Corp.	−4,073,639	12,840,938	$393,831,567
FUBO	FuboTV Inc.	−4,023,577	21,923,236	$55,246,552
TLRY	Tilray Brands, Inc.	−3,606,309	436,921	$3,945,395
HAL	Halliburton Co	−3,551,883	101,025,255	$2,854,973,703
CDE	Coeur Mining, Inc.	−3,509,328	58,216,676	$1,038,003,330
—		−3,455,280	375,187	$1,451,972
STRO	Sutro Biopharma, Inc.	−3,307,200	375,786	$4,347,842
JCI	Johnson Controls International plc	−3,250,013	66,022,552	$7,906,200,600
LKQ	Lkq Corp	−3,151,770	27,322,787	$825,148,165
ACET	Adicet Bio, Inc.	−2,981,245	291,277	$2,452,551
SCWO	374Water Inc.	−2,953,949	326,940	$666,956
—		−2,789,159	96,202,408	$2,532,047,378
URG	Ur-Energy Inc	−2,781,754	17,151,291	$23,840,293
—		−2,741,917	9,153,668	$53,548,958
RWT	Redwood Trust Inc	−2,613,936	11,666,505	$64,515,771
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
TTE	TotalEnergies SE	81,863,403	$5,355,503,821
Q	Qnity Electronics, Inc.	27,270,370	$2,226,625,707
SOLS	Solstice Advanced Materials Inc.	18,387,717	$893,275,291
MDLN	Medline Inc.	18,887,568	$793,277,856
CWK	Cushman & Wakefield Ltd.	36,211,897	$586,270,610
LLYVK	Liberty Live Holdings, Inc.	4,721,823	$392,666,798
MICC	Magnum Ice Cream Co N.V.	21,667,455	$343,429,158
BGSI	Boyd Group Services Inc.	1,175,631	$187,278,016
LLYVA	Liberty Live Holdings, Inc.	2,003,440	$163,280,358
BETA	BETA Technologies, Inc.	2,732,701	$77,089,493
ALH	Alliance Laundry Holdings Inc.	3,742,560	$76,161,095
NAVN	Navan, Inc.	3,328,317	$56,847,653
NP	Neptune Insurance Holdings Inc.	1,613,955	$47,062,926
DEC	Diversified Energy Co	2,948,967	$42,701,039
BNDP	Vanguard Core-Plus Bond Index ETF	525,000	$39,409,125
BLLN	BillionToOne, Inc.	352,368	$28,837,796
NBIS	Nebius Group N.V.	313,203	$26,216,656
LBRX	Lb Pharmaceuticals Inc	1,112,978	$24,774,888
KDK	Kodiak AI, Inc.	1,455,300	$15,891,874
MPLT	MapLight Therapeutics, Inc.	869,668	$15,275,717
JRVR	James River Group Holdings, Inc.	2,264,383	$14,401,475
BULL	Webull Corp	1,675,316	$13,017,205
IMSR	Terrestrial Energy Inc.	1,849,446	$11,300,114
CBK	Commercial Bancgroup, Inc.	416,721	$10,234,666
EVMN	Evommune, Inc.	502,574	$8,604,066
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
—		44,436,576	$1,240,224,837
LNW	Light & Wonder, Inc.	7,934,380	$666,011,857
—		6,286,072	$417,395,182
—		10,705,044	$413,214,699
—		12,451,434	$309,293,619
—		5,824,993	$304,821,884
—		37,638,560	$248,038,111
—		4,526,920	$214,938,161
—		9,871,338	$169,787,015
—		16,923,321	$168,387,044
—		25,344,848	$165,755,305
—		3,649,846	$122,379,336
—		5,187,003	$118,834,240
—		8,053,459	$118,385,847
—		7,851,971	$113,225,422
—		14,222,659	$110,225,607
—		9,043,380	$91,971,174
—		1,536,068	$76,450,105
—		3,691,156	$73,564,739
—		1,387,994	$59,655,385
—		1,783,992	$49,684,179
—		3,863,936	$48,364,886
—		2,267,671	$38,300,963
—		1,631,108	$30,893,185
—		3,976,003	$30,734,504
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

4,312 tracked positions · $6,893,928,712,606 total · filing declares 17,686 positions · $6,897,676,080,637 · as of Dec 31, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 4,312 positions by value · page 1 of 87

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NVDA	Nvidia Corp Technology	Added	2,266,683,275	+43,149,475	$422,736,430,787	+1.9%	24+	before history	6.13%
AAPL	Apple Inc. Technology	Added	1,426,283,914	+26,856,752	$387,749,544,856	+8.8%	24+	before history	5.62%
MSFT	Microsoft Corp Technology	Added	717,942,580	+15,955,898	$347,211,390,536	−4.5%	24+	before history	5.04%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	845,400,528	-4,937,929	$195,135,349,870	+4.5%	24+	before history	2.83%
AVGO	Broadcom Inc. Technology	Added	482,707,302	+3,919,715	$167,064,997,220	+5.8%	24+	before history	2.42%
GOOGL	Alphabet Inc. Communication Services	Added	528,969,322	+12,531,695	$165,567,397,786	+31.9%	24+	before history	2.40%
GOOG	Alphabet Inc. Communication Services	Added	421,013,782	+8,128,234	$132,114,124,787	+31.4%	24+	before history	1.92%
META	Meta Platforms, Inc. Communication Services	Added	199,995,630	+7,269,279	$132,015,115,403	−6.7%	24+	before history	1.91%
TSLA	Tesla, Inc. Consumer Cyclical	Added	258,925,024	+6,538,720	$116,443,761,791	+3.7%	24+	before history	1.69%
LLY	ELI LILLY & Co Healthcare	Added	81,965,974	+1,006,885	$88,087,201,131	+42.6%	24+	before history	1.28%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	265,758,185	-136,410	$85,632,602,368	+2.1%	24+	before history	1.24%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	157,103,196	+2,777,083	$78,967,921,467	+1.8%	24+	before history	1.15%
V	Visa Inc. Financial Services	Added	160,975,832	+1,054,343	$56,455,834,036	+3.4%	24+	before history	0.82%
XOM	ExxonMobil Holdings Corp Energy	Added	429,761,518	+287,990	$51,717,501,073	+6.8%	24+	before history	0.75%
JNJ	Johnson & Johnson Healthcare	Added	240,349,660	+3,731,074	$49,740,362,135	+13.4%	24+	before history	0.72%
WMT	Walmart Inc. Consumer Defensive	Added	439,957,146	+4,304,436	$49,015,625,634	+9.2%	24+	before history	0.71%
MA	Mastercard Inc Financial Services	Added	79,897,854	+466,514	$45,612,086,889	+1.0%	24+	before history	0.66%
ABBV	AbbVie Inc. Healthcare	Added	180,779,699	+3,032,438	$41,306,353,421	+0.4%	24+	before history	0.60%
PLTR	Palantir Technologies Inc. Technology	Added	215,444,098	+1,557,828	$38,295,188,417	−1.9%	22	unpriced	0.56%
COST	Costco Wholesale Corp Consumer Defensive	Added	43,620,717	+165,349	$37,615,889,095	−6.5%	24+	before history	0.55%
NFLX	Netflix Inc Communication Services	Added	390,014,981	+351,493,659	$36,567,804,615	−20.8%	24+	before history	0.53%
BAC	Bank Of America Corp Financial Services	Added	651,076,825	+23,351,183	$35,809,225,375	+10.6%	24+	before history	0.52%
HD	Home Depot, Inc. Consumer Cyclical	Added	99,635,779	+1,325,748	$34,284,671,551	−13.9%	24+	before history	0.50%
ORCL	Oracle Corp Technology	Added	174,802,084	+5,841,584	$34,070,674,189	−28.3%	24+	before history	0.49%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	237,459,756	+2,829,151	$34,030,357,630	−5.6%	24+	before history	0.49%
AMD	Advanced Micro Devices Inc Technology	Added	158,522,860	+2,525,109	$33,949,255,693	+34.5%	24+	before history	0.49%
CSCO	Cisco Systems, Inc. Technology	Added	398,943,293	+4,049,893	$30,730,601,858	+13.7%	24+	before history	0.45%
MU	Micron Technology Inc Technology	Added	106,608,094	+1,954,644	$30,427,016,106	+73.8%	24+	before history	0.44%
UNH	Unitedhealth Group Inc Healthcare	Added	91,600,260	+995,210	$30,238,161,825	−3.3%	24+	before history	0.44%
IBM	International Business Machines Corp Technology	Added	97,216,131	+1,439,824	$28,796,390,160	+6.6%	24+	before history	0.42%
GE	General Electric Co Industrials	Added	92,731,541	+699,364	$28,564,096,571	+3.2%	24+	before history	0.41%
CVX	Chevron Corp Energy	Reduced	182,961,533	-828,495	$27,885,167,242	−2.3%	24+	before history	0.40%
WFC	Wells Fargo & Company Financial Services	Reduced	296,419,877	-2,108,595	$27,626,332,535	+10.4%	24+	before history	0.40%
MRK	Merck & Co., Inc. Healthcare	Added	254,322,763	+2,185,853	$26,770,014,031	+26.5%	24+	before history	0.39%
CAT	Caterpillar Inc Industrials	Added	46,385,185	+442,164	$26,572,680,928	+21.2%	24+	before history	0.39%
KO	Coca Cola Co Consumer Defensive	Added	374,771,512	+5,886,352	$26,200,276,399	+7.1%	24+	before history	0.38%
GS	Goldman Sachs Group Inc Financial Services	Added	29,014,431	+418,820	$25,503,684,849	+12.0%	24+	before history	0.37%
VOO	VANGUARD 500 INDEX FUND	Added	39,068,508	+1,141,931	$24,501,033,421	+5.5%	24+	before history	0.36%
CRM	Salesforce, Inc. Technology	Added	89,843,166	+270,913	$23,800,353,101	+12.1%	24+	before history	0.35%
PM	Philip Morris International Inc. Consumer Defensive	Added	145,262,397	+1,793,949	$23,300,088,476	+0.1%	24+	before history	0.34%
RTX	RTX Corp Industrials	Added	124,986,171	+2,210,950	$22,922,463,759	+11.6%	23	unpriced	0.33%
LRCX	Lam Research Corp Technology	Added	131,185,330	+211,116	$22,456,304,786	+28.0%	24+	before history	0.33%
MCD	Mcdonalds Corp Consumer Cyclical	Added	72,351,127	+703,458	$22,112,674,941	+1.6%	24+	before history	0.32%
ABT	Abbott Laboratories Healthcare	Added	175,556,716	+2,402,408	$21,995,500,945	−5.2%	24+	before history	0.32%
MS	Morgan Stanley Financial Services	Added	119,718,100	+1,361,940	$21,253,554,291	+13.0%	24+	before history	0.31%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Added	62,622,049	+2,291,938	$20,995,294,367	+6.0%	24+	before history	0.30%
PEP	Pepsico Inc Consumer Defensive	Added	138,483,870	+1,612,652	$19,875,205,019	+3.4%	24+	before history	0.29%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	34,133,702	+288,296	$19,778,773,621	+20.5%	24+	before history	0.29%
AMAT	Applied Materials Inc Technology	Added	76,779,340	+330,197	$19,731,522,583	+26.1%	24+	before history	0.29%
QCOM	Qualcomm Inc Technology	Added	114,144,068	+647,076	$19,524,342,828	+3.4%	24+	before history	0.28%

Showing the top 50 of 4,312 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.