Vanguard Specialized Funds - Vanguard Real Estate ETF
US ˙ ARCA ˙ US9229085538

SecurityVNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF
InstitutionAspiriant, Llc
Latest Disclosed Ownership37,162 shares
Latest Disclosed Value $ 3,296,312
Aspiriant, Llc reports 2.16% decrease in ownership of VNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF

On May 12, 2026 - Aspiriant, Llc filed a 13F-HR form disclosing ownership of 37,162 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF (US:VNQ) valued at $3,296,269 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 20, 2026 disclosing 37,981 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF. This represents a change in shares of -2.16% during the quarter. The current value of the position is $3,596,910 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-12 2026-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 37,162 -819 -2.16 3,296 -1.93 0.0939
2026-01-20 2025-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 37,981 863 2.33 3,361 -0.94 0.0966
2025-10-24 2025-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 37,118 105 0.28 3,393 2.94 0.1038
2025-07-29 2025-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 37,013 -423 -1.13 3,296 -2.74 0.1048
2025-04-21 2025-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 37,436 -845 -2.21 3,389 -0.62 0.1177
2025-01-16 2024-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 38,281 -1,614 -4.05 3,410 -12.25 0.1231
2024-10-17 2024-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 39,895 -17 -0.04 3,887 16.24 0.1475
2024-07-15 2024-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 39,912 1,484 3.86 3,343 0.60 0.1363
2024-04-15 2024-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 38,428 -2,165 -5.33 3,323 -7.36 0.1376
2024-01-26 2023-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 40,593 7,730 23.52 3,587 44.29 0.1615
2023-10-18 2023-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 32,863 -1,633 -4.73 2,487 -13.74 0.1272
2023-07-19 2023-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 34,496 -2,037 -5.58 2,883 -4.98 0.1457
2023-04-27 2023-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 36,533 -10,527 -22.37 3,034 -21.85 0.1588
2023-01-23 2022-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 47,060 -2,943 -5.89 3,882 -3.14 0.1978
2022-10-28 2022-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 50,003 -344 -0.68 4,007 -12.63 0.1960
2022-07-25 2022-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 50,347 15,424 44.17 4,586 21.23 0.2213
2022-05-06 2022-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 34,923 241 0.69 3,783 -5.97 0.2080
2022-02-14 2021-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 34,682 -553 -1.57 4,023 12.16 0.2150
2021-10-27 2021-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 35,235 399 1.15 3,587 1.21 0.2107
2021-08-13 2021-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 34,836 2,610 8.10 3,544 19.73 0.2004
2021-05-11 2021-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 32,226 4,690 17.03 2,960 26.50 0.1891
2021-02-01 2020-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 27,536 -8,526 -23.64 2,340 -17.89 0.1597
2020-10-29 2020-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 36,062 -16,640 -31.57 2,850 -31.04 0.2229
2020-08-06 2020-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 52,702 -347,974 -86.85 4,133 -85.23 0.3838
2020-05-05 2020-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 400,676 24,431 6.49 27,976 -19.85 2.7550
2020-01-27 2019-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 376,245 -1,312 -0.35 34,903 -0.83 3.2303
2019-11-04 2019-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 377,557 -201,205 -34.76 35,194 -30.40 3.1530
2019-08-06 2019-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 578,762 51,646 9.80 50,569 10.42 4.2193
2019-08-06 2019-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 527,116 27,626 5.53 45,796 22.90 3.7409
2019-05-03 2019-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 528,089 28,599 45,880
2019-02-04 2018-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 499,490 1,895 0.38 37,263 -7.19 2.8255
2018-10-26 2018-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 497,595 18,133 3.78 40,151 2.81 3.4326
2018-08-07 2018-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 479,462 18,495 4.01 39,052 12.25 3.3439
2018-05-04 2018-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 460,967 308,092 201.53 34,789 174.23 3.0348
2018-01-31 2017-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 152,875 -295,164 -65.88 12,686 -65.92 3.7240
2017-11-13 2017-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 448,039 -22,806 -4.84 37,228 -5.00 3.1204
2017-08-03 2017-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 470,845 88,557 23.16 39,188 24.12 3.4084
2017-05-12 2017-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 382,288 -17,744 -4.44 31,573 -4.37 2.6886
2017-02-10 2016-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 400,032 334,210 507.75 33,015 478.30 2.9895
2016-11-10 2016-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 65,822 -1,100 -1.64 5,709 -2.39 0.5682
2016-08-09 2016-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 66,922 -9,887 -12.87 5,849 -9.13 0.5526
2016-05-12 2016-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 76,809 -16,488 -17.67 6,437 -13.47 0.6142
2016-02-08 2015-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 93,297 -92,565 -49.80 7,439 -46.69 0.8177
2015-11-09 2015-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 185,862 84,965 84.21 13,954 85.16 1.1599
2015-08-06 2015-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 100,897 56,802 128.82 7,536 102.69 0.7352
2015-05-08 2015-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 44,095 -11,119 -20.14 3,718 -16.86 0.4823
2015-02-13 2014-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 55,214 -645 -1.15 4,472 11.44 0.5981
2014-11-12 2014-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 55,859 -8,319 -12.96 4,013 -16.45 0.5604
2014-08-12 2014-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 64,178 -4,296 -6.27 4,803 -0.68 0.6617
2014-05-07 2014-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 68,474 -5,202 -7.06 4,836 1.66 0.7007
2014-02-11 2013-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 73,676 59,489 419.32 4,757 407.14 0.7412
2013-11-08 2013-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 14,187 -4,722 -24.97 938 -27.79 0.1680
2013-08-06 2013-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 18,909 18,909 1,299 0.2040
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.