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

SecurityVNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF
InstitutionTfo-tdc, Llc
Latest Disclosed Ownership95,970 shares
Latest Disclosed Value $ 8,512,524
Tfo-tdc, Llc reports 51.90% increase in ownership of VNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF

On May 8, 2026 - Tfo-tdc, Llc filed a 13F-HR form disclosing ownership of 95,970 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF (US:VNQ) valued at $8,512,539 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 5, 2026 disclosing 63,181 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF. This represents a change in shares of 51.90% during the quarter. The current value of the position is $9,288,936 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)
2026-05-08 2026-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 95,970 32,789 51.90 8,513 52.27 1.1576
2026-02-05 2025-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 63,181 13,994 28.45 5,591 24.33 0.8367
2025-10-21 2025-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 49,187 5,639 12.95 4,497 15.94 0.7330
2025-08-07 2025-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,548 62 0.14 3,878 -1.50 0.6826
2025-05-08 2025-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,486 43,486 3,937 0.7808
2025-02-07 2024-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 0 -43,115 -100.00 0 -100.00
2024-11-12 2024-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,115 19 0.04 4,200 16.38 0.7711
2024-08-15 2024-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,096 35 0.08 3,610 -3.06 0.7059
2024-05-14 2024-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,061 -39 -0.09 3,724 -2.23 0.7223
2024-02-14 2023-12-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,100 99 0.23 3,808 5.98 0.7752
2024-02-12 2023-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,100 99 3,808 0.7752
2023-11-02 2023-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,001 0 0.00 3,593 0.00 0.7510
2023-08-14 2023-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,001 -87 -0.20 3,593 0.42 0.7578
2023-05-03 2023-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 43,088 34,750 416.77 3,578 22.16 0.7848
2023-02-03 2022-12-31 13F Vanguard 500 ETF COM 922908553 8,338 -34,362 -80.47 2,930 -14.43 0.6763
2022-11-08 2022-09-30 13F Vanguard REIT ETF COM 922908553 42,700 -34 -0.08 3,423 -12.10 0.8552
2022-07-18 2022-06-30 13F Vanguard REIT ETF COM 922908553 42,734 -1,346 -3.05 3,894 -18.48 0.8766
2022-04-25 2022-03-31 13F Vanguard REIT ETF COM 922908553 44,080 760 1.75 4,777 -1.36 0.9465
2022-01-21 2021-12-31 13F Vanguard REIT ETF COM 922908553 43,320 -1,286 -2.88 4,843 6.67 0.9287
2021-11-10 2021-09-30 13F Vanguard REIT ETF COM 922908553 44,606 391 0.88 4,540 0.33 0.8972
2021-07-14 2021-06-30 13F Vanguard REIT ETF COM 922908553 44,215 -2,453 -5.26 4,525 5.55 0.8949
2021-04-22 2021-03-31 13F Vanguard REIT ETF COM 922908553 46,668 4,886 11.69 4,287 20.79 1.2867
2021-01-29 2020-12-31 13F Vanguard REIT ETF COM 922908553 41,782 578 1.40 3,549 9.10 1.1288
2020-10-14 2020-09-30 13F Vanguard REIT ETF COM 922908553 41,204 890 2.21 3,253 2.75 1.2536
2020-07-17 2020-06-30 13F Vanguard REIT ETF COM 922908553 40,314 -45 -0.11 3,166 12.31 1.2475
2020-04-20 2020-03-31 13F Vanguard REIT ETF COM 922908553 40,359 -1,420 -3.40 2,819 -27.27 1.2126
2020-01-27 2019-12-31 13F Vanguard REIT ETF COM 922908553 41,779 41,779 3,876 3.5659
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.