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Vanguard Real Estate ETF
VNQ

1,712 hedge funds and large institutions have $19.7B invested in Vanguard Real Estate ETF in 2025 Q1 according to their latest regulatory filings, with 114 funds opening new positions, 679 increasing their positions, 690 reducing their positions, and 94 closing their positions.

New
Increased
Maintained
Reduced
Closed

21% more first-time investments, than exits

New positions opened: 114 | Existing positions closed: 94

2% more funds holding in top 10

Funds holding in top 10: 107 → 109 (+2)

9% more call options, than puts

Call options by funds: $125M | Put options by funds: $115M

0.24% more ownership

Funds ownership: 56.21% → 56.46% (+0.24%)

1% less capital invested

Capital invested by funds: $19.9B → $19.7B (-$224M)

2% less repeat investments, than reductions

Existing positions increased: 679 | Existing positions reduced: 690

1% less funds holding

Funds holding: 1,734 → 1,712 (-22)

Holders
1,712
Holders Change
-22
Holders Change %
-1.27%
% of All Funds
22.96%
Holding in Top 10
109
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+1.87%
% of All Funds
1.46%
New
114
Increased
679
Reduced
690
Closed
94
Calls
$125M
Puts
$115M
Net Calls
+$9.95M
Net Calls Change
+$25.4M

Top Buyers

Rank Fund Capital Flow
1
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
+$364M
2
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$242M
3
Empower Advisory Group
Empower Advisory Group
Colorado
+$187M
4
Goldman Sachs
Goldman Sachs
New York
+$107M
5
Citigroup
Citigroup
New York
+$74.5M

Top Sellers

Rank Fund Capital Flow
1
Caisse de Depot et Placement du Quebec (CDPQ)
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
-$228M
2
BCMIO
Beacon Capital Management Inc (Ohio)
Ohio
-$146M
3
JP Morgan Chase
JP Morgan Chase
New York
-$83.6M
4
FI
FIDELIS iM
Oregon
-$65.3M
5
Creative Planning
Creative Planning
Kansas
-$61.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
FRA
501
Frank Rimerman Advisors
California
$2.52M -$136K -1,495 -5%
PWM
502
Praetorian Wealth Management
California
$2.52M +$1.09M +12,056 +77%
KA
503
Kure Advisory
Minnesota
$2.52M +$2.52M +27,794 New
PFM
504
Patton Fund Management
Texas
$2.52M +$418K +4,606 +20%
FFA
505
Fi3 Financial Advisors
Indiana
$2.51M -$1.18M -12,985 -32%
HB
506
Horizon Bancorp
Indiana
$2.5M -$256K -2,818 -9%
EH
507
Equitable Holdings
New York
$2.5M -$768K -8,463 -23%
WCP
508
Wealthcare Capital Partners
Pennsylvania
$2.5M -$98.7K -1,087 -4%
CGPCS
509
Capital Group Private Client Services
California
$2.5M +$4.81K +53 +0.2%
FWA
510
FSC Wealth Advisors
New York
$2.49M +$482K +5,306 +24%
PAS
511
Park Avenue Securities
New York
$2.49M +$127K +1,396 +5%
SWA
512
Sax Wealth Advisors
New Jersey
$2.48M +$522K +5,751 +27%
DADC
513
D.A. Davidson & Co
Montana
$2.47M -$899K -9,909 -27%
CL
514
Cabana LLC
Arkansas
$2.45M +$2.46M +27,112 New
SIS
515
Sound Income Strategies
Florida
$2.45M +$60.5K +667 +3%
CFFNO
516
Common Fund For Nonprofit Organizations
Connecticut
$2.45M +$16.1K +177 +0.7%
WPC
517
Waters Parkerson & Co
Louisiana
$2.44M – – –
BRG
518
Bay Rivers Group
Virginia
$2.44M +$4.27K +47 +0.2%
AIM
519
AMI Investment Management
Indiana
$2.44M +$86.6K +954 +4%
AI
520
Axos Invest
Nevada
$2.44M -$148K -1,634 -6%
AF
521
Allworth Financial
California
$2.4M -$70.7K -779 -3%
Kayne Anderson Rudnick Investment Management
522
Kayne Anderson Rudnick Investment Management
California
$2.4M -$2.37M -26,071 -50%
CCA
523
Clarity Capital Advisors
Florida
$2.39M +$59.8K +659 +3%
TRCT
524
Tower Research Capital (TRC)
New York
$2.36M -$4.29M -47,292 -64%
FHA
525
Flagship Harbor Advisors
Massachusetts
$2.36M -$263K -2,896 -10%
19 20
21
22 23

VNQ Hedge Fund Activity: Q1 2025 in Review

1,712 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Vanguard Real Estate ETF (VNQ) for Q1 2025, worth a combined $19.7B — down 1.1% from $19.9B a quarter earlier.

Buyers outnumbered sellers: 114 funds opened new VNQ positions and 94 closed out — a net gain of 20 holders — while 679 added to existing stakes and 690 trimmed.

The largest buyer was State of New Jersey Common Pension Fund D, adding an estimated $364M. The largest seller was Caisse de Depot et Placement du Quebec (CDPQ), cutting an estimated $228M.

  • 1,712 institutional investors held Vanguard Real Estate ETF (VNQ) as of Q1 2025, down from 1,734 in Q4 2024.
  • Funds reported $19.7B of Vanguard Real Estate ETF stock for Q1 2025, down 1.1% quarter-over-quarter.
  • 114 funds opened new Vanguard Real Estate ETF positions in Q1 2025 and 94 closed out, a net change of +20 holders.
  • The largest Vanguard Real Estate ETF buyer in Q1 2025 was State of New Jersey Common Pension Fund D, an estimated $364M added.
  • The largest Vanguard Real Estate ETF seller in Q1 2025 was Caisse de Depot et Placement du Quebec (CDPQ), an estimated $228M sold.

Based on aggregated 13F filings for Q1 2025.