Who owns VANGUARD REAL ESTATE INDEX FUND (VNQ)
Which tracked institutional funds hold VNQ, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See VNQ company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-26). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on VNQ is one-sided between 2026-Q1 and 2026-Q2: 11 added or opened and 1073 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
VNQ’s largest tracked holder by dollar value, Empower Advisory Group, LLC, sizes it at 3.9% of its own reported 13F book, while the median holder sizes it at 0.3% of theirs — a 3.6pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in VNQ divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 1761 tracked filers holding VNQ, 892 increased or opened the position and 759 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in VNQ between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 6
- PRICE T ROWE ASSOCIATES INC /MD/$125M
- D. E. Shaw & Co., Inc.$51M
- RENAISSANCE TECHNOLOGIES LLC$17M
- Point72 Asset Management, L.P.$4M
- Verition Fund Management LLC$2M
- TUDOR INVESTMENT CORP ET AL$973K
Full exits 1071
- Empower Advisory Group, LLC$1.5B
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$1.1B
- Creative Planning$1.1B
- BANK OF AMERICA CORP /DE/$897M
- Wealthfront Advisers LLC$893M
- MORGAN STANLEY$867M
Largest adds
- STATE STREET CORP$28M
- BlackRock, Inc.$3M
- FMR LLC$2M
- Hudson Bay Capital Management LP$1M
- AQR CAPITAL MANAGEMENT LLC$572K
Largest trims
- TWO SIGMA INVESTMENTS, LP$298M
- MILLENNIUM MANAGEMENT LLC$2M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Empower Advisory Group, LLC added | 16,879,079 | $1.5B | 9.4% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 12,831,491 | $1.1B | 7.2% | 2026-Q1 |
| Creative Planning trimmed | 12,560,585 | $1.1B | 7.0% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 10,115,744 | $897M | 5.6% | 2026-Q1 |
| Wealthfront Advisers LLC added | 10,070,180 | $893M | 5.6% | 2026-Q1 |
| MORGAN STANLEY trimmed | 9,780,002 | $867M | 5.5% | 2026-Q1 |
| State of New Jersey Common Pension Fund D | 8,598,869 | $763M | 4.8% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 7,350,880 | $642M | 4.0% | 2026-Q1 |
| US BANCORP \DE\ added | 5,521,305 | $493M | 3.1% | 2026-Q1 |
| PRUDENTIAL FINANCIAL INC trimmed | 4,196,621 | $372M | 2.3% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 4,138,334 | $367M | 2.3% | 2026-Q1 |
| Bank of New York Mellon Corp added | 3,431,398 | $304M | 1.9% | 2026-Q1 |
| Financial Engines Advisors L.L.C. trimmed | 3,358,966 | $298M | 1.9% | 2026-Q1 |
| Cetera Investment Advisers added | 2,362,887 | $210M | 1.3% | 2026-Q1 |
| LPL Financial LLC added | 2,277,005 | $202M | 1.3% | 2026-Q1 |
| State of Tennessee, Department of Treasury trimmed | 2,234,023 | $198M | 1.2% | 2026-Q1 |
| Pure Financial Advisors, LLC added | 2,212,485 | $196M | 1.2% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 2,154,411 | $191M | 1.2% | 2026-Q1 |
| Mariner, LLC added | 2,120,019 | $188M | 1.2% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 1,748,564 | $155M | 1.0% | 2026-Q1 |
| Sand Hill Global Advisors, LLC added | 1,741,408 | $154M | 1.0% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 1,677,694 | $149M | 0.9% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 1,568,908 | $139M | 0.9% | 2026-Q1 |
| Ballentine Partners, LLC added | 1,558,678 | $138M | 0.9% | 2026-Q1 |
| UBS Group AG added | 1,500,954 | $133M | 0.8% | 2026-Q1 |
| VISTA CAPITAL PARTNERS, INC. added | 1,448,406 | $128M | 0.8% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 1,300,407 | $125M | 0.8% | 2026-Q2 |
| Millburn Ridgefield LLC /DE/ added | 1,393,147 | $124M | 0.8% | 2026-Q1 |
| Catalyst Capital Advisors LLC added | 1,393,147 | $124M | 0.8% | 2026-Q1 |
| Gibson Capital, LLC added | 1,387,610 | $123M | 0.8% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 1,280,054 | $114M | 0.7% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. trimmed | 1,037,111 | $92M | 0.6% | 2026-Q1 |
| Beacon Capital Management, Inc. added | 1,022,472 | $91M | 0.6% | 2026-Q1 |
| Corient Private Wealth LLC trimmed | 1,008,565 | $89M | 0.6% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 950,636 | $84M | 0.5% | 2026-Q1 |
| Vanderbilt University added | 865,645 | $77M | 0.5% | 2026-Q1 |
| ASSETMARK, INC added | 864,880 | $77M | 0.5% | 2026-Q1 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 861,206 | $76M | 0.5% | 2026-Q1 |
| Seven Post Investment Office LP added | 849,940 | $75M | 0.5% | 2026-Q1 |
| Jefferies Financial Group Inc. added | 802,137 | $71M | 0.4% | 2026-Q1 |
| GLENMEDE TRUST CO NA trimmed | 781,794 | $69M | 0.4% | 2026-Q1 |
| EVERGREEN CAPITAL MANAGEMENT LLC added | 759,691 | $67M | 0.4% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND trimmed | 700,000 | $62M | 0.4% | 2026-Q1 |
| Capital Investment Advisors, LLC added | 693,670 | $62M | 0.4% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 691,627 | $61M | 0.4% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 689,478 | $61M | 0.4% | 2026-Q1 |
| Pathstone Holdings, LLC trimmed | 679,688 | $60M | 0.4% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 666,318 | $59M | 0.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 660,811 | $59M | 0.4% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ trimmed | 640,886 | $57M | 0.4% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC added | 637,628 | $57M | 0.4% | 2026-Q1 |
| Cerity Partners LLC added | 626,007 | $56M | 0.3% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 622,778 | $55M | 0.3% | 2026-Q1 |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC trimmed | 605,036 | $54M | 0.3% | 2026-Q1 |
| Pennsylvania State University | 592,234 | $53M | 0.3% | 2026-Q1 |
| REBALANCE, LLC added | 584,295 | $52M | 0.3% | 2026-Q1 |
| First Command Advisory Services, Inc. trimmed | 570,841 | $51M | 0.3% | 2026-Q1 |
| STATE STREET CORP added | 524,486 | $51M | 0.3% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 523,931 | $51M | 0.3% | 2026-Q2 |
| Glenview Trust Co added | 544,563 | $48M | 0.3% | 2026-Q1 |
| Efficient Advisors, LLC trimmed | 537,829 | $48M | 0.3% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 509,075 | $45M | 0.3% | 2026-Q1 |
| CITIZENS FINANCIAL GROUP INC/RI added | 486,852 | $43M | 0.3% | 2026-Q1 |
| OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC added | 485,471 | $43M | 0.3% | 2026-Q1 |
| PEAPACK GLADSTONE FINANCIAL CORP added | 477,833 | $42M | 0.3% | 2026-Q1 |
| SCS Capital Management LLC added | 474,337 | $42M | 0.3% | 2026-Q1 |
| Empirical Financial Services, LLC d.b.a. Empirical Wealth Management added | 455,462 | $40M | 0.3% | 2026-Q1 |
| MONETA GROUP INVESTMENT ADVISORS LLC added | 452,995 | $40M | 0.3% | 2026-Q1 |
| Falcon Wealth Planning added | 442,545 | $39M | 0.2% | 2026-Q1 |
| Passive Capital Management, LLC. added | 433,750 | $38M | 0.2% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS added | 417,129 | $37M | 0.2% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV added | 416,776 | $37M | 0.2% | 2026-Q1 |
| PGIM Custom Harvest LLC added | 414,124 | $37M | 0.2% | 2026-Q1 |
| Nuveen, LLC added | 412,638 | $37M | 0.2% | 2026-Q1 |
| Baird Financial Group, Inc. added | 408,541 | $36M | 0.2% | 2026-Q1 |
| SEI INVESTMENTS CO added | 398,867 | $35M | 0.2% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC trimmed | 392,376 | $35M | 0.2% | 2026-Q1 |
| Focus Partners Wealth trimmed | 375,047 | $33M | 0.2% | 2026-Q1 |
| Garde Capital, Inc. added | 375,869 | $33M | 0.2% | 2026-Q1 |
| Midwest Trust Co trimmed | 375,744 | $33M | 0.2% | 2026-Q1 |
| M&T Bank Corp trimmed | 360,820 | $32M | 0.2% | 2026-Q1 |
| Chandler Asset Management, Inc. trimmed | 358,258 | $32M | 0.2% | 2026-Q1 |
| Prime Capital Investment Advisors, LLC trimmed | 349,940 | $31M | 0.2% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 334,104 | $30M | 0.2% | 2026-Q1 |
| Comprehensive Financial Management LLC | 328,338 | $29M | 0.2% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP trimmed | 280,100 | $27M | 0.2% | 2026-Q2 |
| HHM Wealth Advisors, LLC added | 304,249 | $27M | 0.2% | 2026-Q1 |
| Beacon Pointe Advisors, LLC added | 303,877 | $27M | 0.2% | 2026-Q1 |
| BECKER CAPITAL MANAGEMENT INC added | 303,513 | $27M | 0.2% | 2026-Q1 |
| FOSTER & MOTLEY INC added | 299,616 | $27M | 0.2% | 2026-Q1 |
| First Financial Bankshares Inc trimmed | 298,357 | $26M | 0.2% | 2026-Q1 |
| SAGE FINANCIAL GROUP INC added | 289,964 | $26M | 0.2% | 2026-Q1 |
| FMR LLC trimmed | 263,601 | $25M | 0.2% | 2026-Q2 |
| PRESILIUM PRIVATE WEALTH, LLC added | 278,196 | $25M | 0.2% | 2026-Q1 |
| Caisse de depot et placement du Quebec added | 1,223,000 | $112M | 0.7% | 2025-Q3 stale |
| AVANTAX ADVISORY SERVICES, INC. added | 936,792 | $83M | 0.5% | 2025-Q2 stale |
| Glenmede Investment Management, LP trimmed | 865,398 | $79M | 0.5% | 2025-Q3 stale |
| 1832 Asset Management L.P. added | 659,938 | $60M | 0.4% | 2025-Q3 stale |
| Quadrature Capital Ltd added | 445,840 | $40M | 0.3% | 2025-Q1 stale |
| CW Advisors, LLC added | 377,695 | $34M | 0.2% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.