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

SecurityVNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF
InstitutionBaird Financial Group, Inc.
Latest Disclosed Ownership408,541 shares
Latest Disclosed Value $ 36,237,650
Baird Financial Group, Inc. reports 4.49% increase in ownership of VNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF

On May 14, 2026 - Baird Financial Group, Inc. filed a 13F-HR form disclosing ownership of 408,541 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF (US:VNQ) valued at $36,237,587 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 390,977 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF. This represents a change in shares of 4.49% during the quarter. The current value of the position is $39,542,683 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)
2026-05-14 2026-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 408,541 17,564 4.49 36,238 4.74 0.0305
2026-02-13 2025-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF COMMON 922908553 390,977 14,280 3.79 34,598 0.46 0.0539
2025-11-13 2025-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF COMMON 922908553 376,697 53,031 16.38 34,438 19.47 0.0554
2025-08-13 2025-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF COMMON 922908553 323,666 -9,201 -2.76 28,826 -4.35 0.0505
2025-05-15 2025-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF COMMON 922908553 332,867 -10,191 -2.97 30,138 -1.38 0.0580
2025-02-14 2024-12-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 343,058 55,687 19.38 30,560 9.16 0.0584
2024-11-14 2024-09-30 13F VNGRD REAL EST INDX ETF COMMON 922908553 287,371 8,902 3.20 27,996 20.03 0.0544
2024-08-14 2024-06-30 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 278,469 -46,402 -14.28 23,325 -16.98 0.0484
2024-05-14 2024-03-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 324,871 -10,628 -3.17 28,095 -5.23 0.0589
2024-02-14 2023-12-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 335,499 47,315 16.42 29,645 35.96 0.0676
2023-11-13 2023-09-30 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 288,184 -6,077 -2.07 21,804 -11.32 0.0595
2023-08-11 2023-06-30 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 294,261 -31,917 -9.79 24,588 -9.22 0.0649
2023-05-15 2023-03-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 326,178 -11,717 -3.47 27,086 100,214.81 0.0668
2023-02-13 2022-12-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 337,895 15,719 4.88 28 -99.90 0.0734
2022-11-15 2022-09-30 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 322,176 12,096 3.90 25,829 -8.57 0.0761
2022-08-08 2022-06-30 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 310,080 -396,842 -56.14 28,251 -63.12 0.0784
2022-05-13 2022-03-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 706,922 27,509 4.05 76,610 -2.80 0.1893
2022-02-09 2021-12-31 13F VANGUARD REAL ESTATE ETF COMMON 922908553 679,413 22,405 3.41 78,819 17.87 0.1843
2021-11-12 2021-09-30 13F VANGUARD REAL ESTATE ETF COMMON 922908553 657,008 37,354 6.03 66,870 6.02 0.1710
2021-08-11 2021-06-30 13F VANGUARD REAL ESTATE ETF COMMON 922908553 619,654 29,966 5.08 63,075 16.44 0.1639
2021-05-13 2021-03-31 13F VANGUARD REAL ESTATE ETF COMMON 922908553 589,688 308,899 110.01 54,169 127.14 0.1519
2021-02-11 2020-12-31 13F VANGUARD REAL ESTATE ETF COMMON 922908553 280,789 -16,019 -5.40 23,848 1.76 0.0713
2020-11-12 2020-09-30 13F VANGUARD REAL ESTATE ETF COMMON 922908553 296,808 -36,012 -10.82 23,436 -10.33 0.0803
2020-10-22 2020-06-30 13F/A-1 VANGUARD REAL ESTATE ETF COMMON 922908553 332,820 -473,040 -58.70 26,137 -53.57 0.0985
2020-08-14 2020-06-30 13F VANGUARD REAL ESTATE ETF COMMON 922908553 585,832 -220,028 53,434 105,894.0480
2020-05-14 2020-03-31 13F VANGUARD REAL ESTATE ETF COMMON 922908553 805,860 21,856 2.79 56,290 -22.62 0.2571
2020-02-14 2019-12-31 13F VANGUARD REAL ESTATE ETF COMMON 922908553 784,004 -66,015 -7.77 72,748 -8.22 0.2611
2019-11-14 2019-09-30 13F VANGUARD INDEX FDS ETF Common 922908553 850,019 5,998 0.71 79,264 7.45 0.3122
2019-08-14 2019-06-30 13F VANGUARD INDEX FDS ETF COMMON 922908553 844,021 467,163 123.96 73,767 125.22 0.2868
2019-05-14 2019-03-31 13F VANGUARD INDEX REIT ETF COMMON 922908553 376,858 -34,356 -8.35 32,753 6.81 0.1915
2019-02-14 2018-12-31 13F VANGUARD INDEX REIT ETF COMMON 922908553 411,214 -34,263 -7.69 30,664 -14.30 0.2081
2018-11-13 2018-09-30 13F Vanguard REIT ETF COMMON 922908553 445,477 189,518 74.04 35,782 71.63 0.2242
2018-08-13 2018-06-30 13F VANGUARD INDEX REIT ETF COMMON 922908553 255,959 130,737 104.40 20,848 120.59 0.1415
2018-05-14 2018-03-31 13F VANGUARD INDEX REIT ETF COMMON 922908553 125,222 -71,535 -36.36 9,451 -42.11 0.0665
2018-02-09 2017-12-31 13F VANGUARD INDEX REIT ETF COMMON 922908553 196,757 3,639 1.88 16,327 1.75 0.1156
2017-11-14 2017-09-30 13F VANGUARD INDEX REIT ETF COMMON 922908553 193,118 11,156 6.13 16,046 5.95 0.1210
2017-08-14 2017-06-30 13F VANGUARD INDEX REIT ETF COMMON 922908553 181,962 4,773 2.69 15,145 3.49 0.1187
2017-06-19 2017-03-31 13F/A-1 VANGUARD INDEX REIT ETF COMMON 922908553 177,189 30,482 20.78 14,634 20.86 0.1184
2017-05-09 2017-03-31 13F VANGUARD INDEX REIT ETF COMMON 922908553 177,189 14,634
2017-02-10 2016-12-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 146,707 2,365 1.64 12,108 -3.29 0.1051
2016-11-10 2016-09-30 13F VANGUARD INDEX REIT ETF COMMON 922908553 144,342 38,100 35.86 12,520 32.85 0.1121
2016-08-11 2016-06-30 13F VANGUARD INDEX REIT ETF COMMON 922908553 106,242 -5,361 -4.80 9,424 0.77 0.0864
2016-05-12 2016-03-31 13F VANGUARD INDEX REIT ETF ETF - E 922908553 111,603 -12,119 -9.80 9,352 -5.19 0.0895
2016-02-11 2015-12-31 13F VANGUARD INDEX FUNDS REIT ETF COMMON 922908553 123,722 30,259 32.38 9,864 39.72 0.0987
2015-11-12 2015-09-30 13F VANGUARD INDEX REIT ETF COMMON 922908553 93,463 3,970 4.44 7,060 5.63 0.0751
2015-08-14 2015-06-30 13F VANGUARD INDEX REIT ETF COMMON 922908553 89,493 89,493 6,684 0.0658
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.