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Vanguard Real Estate ETF
VNQ

1,670 hedge funds and large institutions have $18.8B invested in Vanguard Real Estate ETF in 2025 Q2 according to their latest regulatory filings, with 93 funds opening new positions, 658 increasing their positions, 686 reducing their positions, and 112 closing their positions.

New
Increased
Maintained
Reduced
Closed

4.96% more ownership

Funds ownership: 56.46% → 61.42% (+5%)

4% less repeat investments, than reductions

Existing positions increased: 658 | Existing positions reduced: 686

5% less capital invested

Capital invested by funds: $19.7B → $18.8B (-$932M)

2% less funds holding

Funds holding: 1,712 → 1,670 (-42)

8% less funds holding in top 10

Funds holding in top 10: 109 → 100 (-9)

17% less first-time investments, than exits

New positions opened: 93 | Existing positions closed: 112

38% less call options, than puts

Call options by funds: $75.8M | Put options by funds: $122M

Holders
1,670
Holders Change
-42
Holders Change %
-2.45%
% of All Funds
21.99%
Holding in Top 10
100
Holding in Top 10 Change
-9
Holding in Top 10 Change %
-8.26%
% of All Funds
1.32%
New
93
Increased
658
Reduced
686
Closed
112
Calls
$75.8M
Puts
$122M
Net Calls
-$46.3M
Net Calls Change
-$56.2M

Top Buyers

Rank Fund Capital Flow
1
PCP
Proficio Capital Partners
Massachusetts
+$1.24B
2
GFA
Gallagher Fiduciary Advisors
Illinois
+$499M
3
State Street
State Street
Massachusetts
+$124M
4
BCMIO
Beacon Capital Management Inc (Ohio)
Ohio
+$83M
5
Empower Advisory Group
Empower Advisory Group
Colorado
+$50.9M

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$199M
2
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$195M
3
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$77.8M
4
Goldman Sachs
Goldman Sachs
New York
-$66.4M
5
JP Morgan Chase
JP Morgan Chase
New York
-$56.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
MSRPS
1676
Maryland State Retirement & Pension System
Maryland
– -$19.4M -214,500 Closed
Citadel Advisors
1677
Citadel Advisors
Florida
– -$15.9M -180,610 Closed
EBT
1678
Enterprise Bank & Trust
Massachusetts
– -$8.33M -92,028 Closed
PL
1679
Polianta Ltd
Jersey
– -$7.18M -79,300 Closed
HF
1680
HRT Financial
New York
– -$6.06M -66,961 Closed
FTUS
1681
Flow Traders U.S.
New York
– -$5.32M -58,748 Closed
PCM
1682
Penserra Capital Management
California
– -$3.87M -42,748 Closed
VM
1683
VPR Management
Texas
– -$3.59M -39,600 Closed
ARC
1684
Advisor Resource Council
Texas
– -$3.31M -37,102 Closed
VF
1685
Virtu Financial
New York
– -$3.12M -34,450 Closed
FTA
1686
Financial & Tax Architects
Missouri
– -$2.62M -28,918 Closed
Mitsubishi UFJ Trust & Banking
1687
Mitsubishi UFJ Trust & Banking
Japan
– -$2.44K -27,000 Closed
TC
1688
TownSquare Capital
Utah
– -$2.08M -22,923 Closed
RAM
1689
Readystate Asset Management
Illinois
– -$1.75M -19,279 Closed
TSS
1690
Two Sigma Securities
New York
– -$1.66M -18,302 Closed
NAM
1691
Nissay Asset Management
Japan
– -$1.64M -18,060 Closed
Walleye Capital
1692
Walleye Capital
New York
– -$1.32M -14,571 Closed
SSA
1693
Schonfeld Strategic Advisors
New York
– -$1.26M -13,931 Closed
PG
1694
Prostatis Group
Maryland
– -$1.19M -13,196 Closed
CCMG
1695
Clark Capital Management Group
Pennsylvania
– -$1.14M -12,575 Closed
MHS
1696
M Holdings Securities
Oregon
– -$1.13M -12,530 Closed
RTC
1697
Riverview Trust Company
Washington
– -$1.1M -12,198 Closed
KC
1698
Kinloch Capital
Virginia
– -$1.08M -11,945 Closed
CWC
1699
Carolinas Wealth Consulting
North Carolina
– -$1.07M -11,813 Closed
Millennium Management
1700
Millennium Management
New York
– -$917K -10,132 Closed
66 67
68
69 70

VNQ Hedge Fund Activity: Q2 2025 in Review

1,670 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Vanguard Real Estate ETF (VNQ) for Q2 2025, worth a combined $18.8B — down 4.7% from $19.7B a quarter earlier.

Sellers outnumbered buyers: 112 funds closed out of VNQ and 93 opened new positions — a net loss of 19 holders — while 686 trimmed existing stakes and 658 added.

The largest buyer was Proficio Capital Partners, opening a new position worth an estimated $1.24B. The largest seller was Morgan Stanley, cutting an estimated $199M.

  • 1,670 institutional investors held Vanguard Real Estate ETF (VNQ) as of Q2 2025, down from 1,712 in Q1 2025.
  • Funds reported $18.8B of Vanguard Real Estate ETF stock for Q2 2025, down 4.7% quarter-over-quarter.
  • 93 funds opened new Vanguard Real Estate ETF positions in Q2 2025 and 112 closed out, a net change of -19 holders.
  • The largest Vanguard Real Estate ETF buyer in Q2 2025 was Proficio Capital Partners, an estimated $1.24B added.
  • The largest Vanguard Real Estate ETF seller in Q2 2025 was Morgan Stanley, an estimated $199M sold.

Based on aggregated 13F filings for Q2 2025.