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

SecurityVNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF
InstitutionCwm, Llc
Latest Disclosed Ownership155,424 shares
Latest Disclosed Value $ 13,786,122
Cwm, Llc reports 6.87% increase in ownership of VNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF

On May 14, 2026 - Cwm, Llc filed a 13F-HR form disclosing ownership of 155,424 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF (US:VNQ) valued at $13,786,109 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 145,426 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF. This represents a change in shares of 6.87% during the quarter. The current value of the position is $14,673,580 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 155,424 9,998 6.87 13,786 114,783.33 0.0358
2026-01-26 2025-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 145,426 61,633 73.55 13 71.43 0.0349
2025-10-15 2025-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 83,793 9,115 12.21 8 16.67 0.0230
2025-07-25 2025-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 74,678 7,577 11.29 7 0.00 0.0235
2025-05-01 2025-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 67,101 45,528 211.04 6 500.00 0.0242
2025-02-04 2024-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 21,573 -168 -0.77 2 -50.00 0.0080
2024-10-08 2024-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 21,741 -3,956 -15.39 2 0.00 0.0091
2024-07-10 2024-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 25,697 -1,318 -4.88 2 0.00 0.0101
2024-04-05 2024-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 27,015 -3,134 -10.40 2 0.00 0.0114
2024-02-01 2023-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 30,149 8,813 41.31 3 100.00 0.0143
2023-10-11 2023-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 21,336 60 0.28 2 0.00 0.0099
2023-08-03 2023-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 21,276 -2,038 -8.74 2 0.00 0.0110
2023-05-01 2023-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 23,314 -36,205 -60.83 2 -75.00 0.0131
2023-02-01 2022-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 59,519 -6,023 -9.19 5 -99.92 0.0362
2022-10-27 2022-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 65,542 -21,445 -24.65 5,255 -33.69 0.0417
2022-07-28 2022-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 86,987 5,670 6.97 7,925 -10.07 0.0614
2022-04-21 2022-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 81,317 32,120 65.29 8,812 54.41 0.0625
2022-01-31 2021-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 49,197 22,862 86.81 5,707 112.87 0.0402
2021-09-15 2021-06-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2021-07-29 2021-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 2,681 0.0214
2021-09-15 2021-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2021-04-27 2021-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 20,322 -6,013 1,867 0.0164
2021-09-15 2020-12-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2021-01-27 2020-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 15,167 -11,168 1,288 0.0121
2021-09-15 2020-09-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2020-10-19 2020-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 17,328 -9,007 1,368 0.0152
2021-09-15 2020-06-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2020-07-22 2020-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 7,808 -18,527 613 0.0073
2021-09-15 2020-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2020-04-28 2020-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,629 -13,706 882 0.0131
2021-09-14 2019-12-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2020-01-27 2019-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 32,054 5,719 2,974 0.0380
2021-09-14 2019-09-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2019-10-22 2019-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 18,193 -8,142 1,696 0.0247
2021-09-14 2019-06-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 0 0.00 2,681 0.00 0.0214
2019-07-31 2019-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,645 310 2,329 0.0385
2021-09-02 2019-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 26,335 7,153 37.29 2,681 87.48 0.0214
2019-04-22 2019-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 28,302 9,120 2,460 0.0493
2019-01-25 2018-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 19,182 2,629 15.88 1,430 7.12 0.0357
2018-10-29 2018-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 16,553 -6,561 -28.39 1,335 -29.10 0.0341
2018-07-31 2018-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 23,114 15,482 202.86 1,883 226.91 0.0620
2018-04-26 2018-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 7,632 993 14.96 576 4.54 0.0229
2018-01-16 2017-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 6,639 -82 -1.22 551 -1.25 0.0245
2017-10-16 2017-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 6,721 -152 -2.21 558 -2.45 0.0264
2017-07-17 2017-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 6,873 -2,839 -29.23 572 -28.68 0.0293
2017-04-17 2017-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 9,712 2,234 29.87 802 29.98 0.0453
2017-01-19 2016-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 7,478 -673 -8.26 617 -12.73 0.0378
2016-10-17 2016-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 8,151 817 11.14 707 8.77 0.0488
2016-07-21 2016-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 7,334 0 0.00 650 5.69 0.0474
2016-04-18 2016-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 7,334 7,307 27,062.96 615 30,650.00 0.0540
2016-02-01 2015-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 27 0 0.00 2 0.00 0.0002
2015-10-30 2015-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 27 27 2 0.0002
2014-02-14 2013-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 0 -260 -100.00 0 -100.00
2013-11-14 2013-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 260 260 17 0.0045
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.