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

SecurityVNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF
InstitutionMorgan Stanley
Latest Disclosed Ownership9,780,002 shares
Latest Disclosed Value $ 867,486,419
Morgan Stanley reports 1.12% decrease in ownership of VNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 9,780,002 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF (US:VNQ) valued at $867,486,177 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 9,890,313 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF. This represents a change in shares of -1.12% during the quarter. The current value of the position is $946,606,394 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)
2026-05-15 2026-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 9,780,002 -110,311 -1.12 867,486 -0.88 0.0523
2026-05-27 2025-12-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 9,890,313 111,978 1.15 875,194 -2.10 0.0523
2026-02-13 2025-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 9,890,313 111,978 875,194
2026-05-27 2025-09-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 9,778,335 65,252 0.67 893,936 3.34 0.0541
2025-11-14 2025-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 9,778,335 65,252 893,936 0.0541
2025-08-15 2025-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 9,713,083 -2,253,066 -18.83 865,047 -20.16 0.0564
2025-05-15 2025-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 11,966,149 -407,483 -3.29 1,083,415 -1.71 0.0775
2025-05-15 2024-12-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,373,632 70,200 0.57 1,102,243 -8.04 0.0772
2025-02-14 2024-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,373,632 70,200 1,102,243 0.0772
2025-05-14 2024-09-30 13F/A-2 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,303,432 331,803 2.77 1,198,601 19.53 0.0869
2025-02-14 2024-09-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,303,432 331,803 1,198,601 0.0869
2024-11-14 2024-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,303,432 331,803 1,198,601 0.0103
2025-05-14 2024-06-30 13F/A-2 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 11,971,629 -386,279 -3.13 1,002,744 -6.17 0.0776
2024-10-17 2024-06-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 11,971,629 -386,279 1,002,744 0.0776
2024-08-14 2024-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 11,971,629 -386,279 1,002,744 0.0776
2024-10-17 2024-03-31 13F/A-2 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,357,908 -486,018 -3.78 1,068,712 -5.83 0.0857
2024-08-16 2024-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,357,908 -486,018 1,068,712 0.0100
2024-05-15 2024-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,357,908 -486,018 1,068,712 0.0858
2024-08-16 2023-12-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,843,926 -2,819,643 -18.00 1,134,889 -4.24 0.1000
2024-02-13 2023-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,843,926 -2,819,643 1,134,889 0.1000
2023-11-15 2023-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 15,663,569 5,113 0.03 1,185,106 -9.42 0.1205
2023-08-14 2023-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 15,658,456 -464,843 -2.88 1,308,421 -2.27 0.1290
2023-05-15 2023-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 16,123,299 -341,008 -2.07 1,338,879 -1.41 0.1436
2023-02-14 2022-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 16,464,307 194,301 1.19 1,357,976 4.11 0.1542
2022-11-14 2022-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 16,270,006 -64,816 -0.40 1,304,367 -12.36 0.1778
2022-10-27 2022-06-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 16,334,822 5,645,999 52.82 1,488,266 28.48 0.1932
2022-08-15 2022-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 16,334,822 5,645,999 1,488,266 0.0390
2022-10-27 2022-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 10,688,823 1,886,392 21.43 1,158,349 13.43 0.1562
2022-05-13 2022-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 10,688,823 1,886,392 1,158,349 0.1562
2022-02-14 2021-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,802,431 455,050 5.45 1,021,170 20.19 0.1261
2021-11-15 2021-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,347,381 799,555 10.59 849,596 10.58 0.1144
2021-08-23 2021-06-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 7,547,826 1,550,631 25.86 768,293 39.46 0.1013
2021-08-16 2021-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 7,547,826 1,550,631 768,293 0.0211
2021-05-17 2021-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 5,997,195 331,431 5.85 550,903 14.49 0.0809
2021-02-16 2020-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 5,665,764 -674,944 -10.64 481,193 -3.89 0.0743
2020-11-13 2020-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,340,708 669,303 11.80 500,662 12.41 0.0968
2020-08-14 2020-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 5,671,405 -1,157,324 -16.95 445,375 -6.63 0.0986
2020-05-26 2020-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,828,729 774,240 12.79 476,987 -15.10 0.1296
2020-05-15 2020-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,828,729 774,240 476,987 36,642.5451
2020-02-14 2019-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,054,489 -265,935 -4.21 561,796 -4.68 0.1306
2019-11-14 2019-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,320,424 -165,293 -2.55 589,380 3.97 0.1560
2019-08-14 2019-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,485,717 -105,442 -1.60 566,853 -1.04 0.1509
2019-05-15 2019-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,591,159 40,858 0.62 572,838 17.28 0.1622
2019-02-14 2018-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 6,550,301 -1,977,211 -23.19 488,456 -29.00 0.1462
2019-04-23 2018-09-30 13F/A-2 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,527,512 16,968 0.20 688,000 -0.75 0.1722
2018-11-20 2018-09-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,527,512 0 688,000 0.1722
2018-11-14 2018-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,527,512 16,968 688,000
2019-04-23 2018-06-30 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,510,544 78,683 0.93 693,184 8.93 0.1873
2018-08-14 2018-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,510,544 78,683 693,184
2019-04-23 2018-03-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,431,861 1,809,957 27.33 636,354 15.81 0.1766
2018-05-14 2018-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 8,431,861 1,809,957 636,354
2019-04-23 2017-12-31 13F/A-1 VANGUARD INDEX FDS REIT ETF 922908553 6,621,904 614,769 10.23 549,486 10.09 0.1504
2018-02-14 2017-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 6,621,904 614,769 549,486
2017-11-14 2017-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 6,007,135 -155,174 -2.52 499,133 -2.68 0.1495
2017-08-11 2017-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 6,162,309 -509,433 -7.64 512,890 -6.92 0.1549
2017-05-22 2017-03-31 13F/A-1 VANGUARD INDEX FDS REIT ETF 922908553 6,671,742 222,692 3.45 551,019 3.53 0.1694
2017-05-12 2017-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 6,671,742 551,019
2017-02-22 2016-12-31 13F/A-1 VANGUARD INDEX FDS REIT ETF 922908553 6,449,050 116,162 1.83 532,239 -3.11 0.1742
2017-02-13 2016-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 6,449,050 532,239
2016-11-10 2016-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 6,332,888 20,209 0.32 549,314 -1.86 0.1876
2016-08-12 2016-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 6,312,679 460,910 7.88 559,746 14.15 0.2022
2016-05-12 2016-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 5,851,769 -1,077,765 -15.55 490,380 -11.24 0.1887
2016-02-09 2015-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 6,929,534 350,290 5.32 552,491 11.17 0.2000
2016-02-08 2015-09-30 13F/A-1 VANGUARD INDEX FDS REIT ETF 922908553 6,579,244 -1,125,857 -14.61 496,995 -13.64 0.1837
2015-11-09 2015-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 6,579,244 496,995
2015-08-12 2015-06-30 13F VANGUARD INDEX FDS REIT ETF 922908553 7,705,101 -871,507 -10.16 575,495 -20.41 0.1995
2015-05-14 2015-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 8,576,608 -1,155,982 -11.88 723,095 -8.28 0.2663
2015-02-13 2014-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 9,732,590 -534,127 -5.20 788,339 6.87 0.2883
2014-12-16 2014-09-30 13F/A-1 VANGUARD INDEX FDS REIT ETF 922908553 10,266,717 1,604,653 18.53 737,663 20.59 0.2836
2014-11-14 2014-09-30 13F VANGUARD INDEX FDS REIT ETF 922908553 10,266,717 737,663
2014-05-13 2014-03-31 13F VANGUARD INDEX FDS REIT ETF 922908553 8,662,064 257,019 3.06 611,714 12.73 0.2562
2014-02-13 2013-12-31 13F VANGUARD INDEX FDS REIT ETF 922908553 8,405,045 -268,895 -3.10 542,629 -5.42 0.2308
2013-11-13 2013-09-30 13F VANGUARD REIT ETF COM 922908553 8,673,940 -214,341 -2.41 573,695 -6.08 0.2712
2013-08-08 2013-06-30 13F VANGUARD REIT ETF COM 922908553 8,888,281 8,888,281 610,802 0.3081
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.