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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
Empower Advisory Group
1
Empower Advisory Group
Colorado
$1.29B +$50.9M +577,515 +4%
Creative Planning
2
Creative Planning
Kansas
$1.22B -$47.3M -535,948 -4%
Bank of America
3
Bank of America
North Carolina
$906M -$48.6M -551,217 -5%
Northwestern Mutual Wealth Management
4
Northwestern Mutual Wealth Management
Wisconsin
$901M +$50.3M +570,141 +6%
Morgan Stanley
5
Morgan Stanley
New York
$865M -$199M -2,253,066 -19%
Wealthfront Advisers
6
Wealthfront Advisers
California
$782M +$19.1M +216,763 +3%
State of New Jersey Common Pension Fund D
7
State of New Jersey Common Pension Fund D
New Jersey
$766M – – –
JP Morgan Chase
8
JP Morgan Chase
New York
$716M -$56.4M -638,949 -7%
US Bancorp
9
US Bancorp
Minnesota
$450M +$906K +10,274 +0.2%
Wells Fargo
10
Wells Fargo
California
$387M -$16.4M -186,380 -4%
Prudential Financial
11
Prudential Financial
New Jersey
$379M +$7.28M +82,520 +2%
Goldman Sachs
12
Goldman Sachs
New York
$351M -$66.4M -752,746 -16%
Financial Engines Advisors
13
Financial Engines Advisors
California
$293M +$2.1M +23,782 +0.7%
Bank of New York Mellon
14
Bank of New York Mellon
New York
$247M +$718K +8,142 +0.3%
Envestnet Asset Management
15
Envestnet Asset Management
Illinois
$205M -$34.3M -388,398 -14%
State of Tennessee, Department of Treasury
16
State of Tennessee, Department of Treasury
Tennessee
$188M +$5.14M +58,287 +3%
LPL Financial
17
LPL Financial
California
$187M +$32M +362,885 +21%
Mariner
18
Mariner
Kansas
$177M -$1.9M -21,492 -1%
PFA
19
Pure Financial Advisors
California
$167M +$4.44M +50,377 +3%
UBS Group
20
UBS Group
Switzerland
$159M +$13.9M +157,632 +10%
Manulife (Manufacturers Life Insurance)
21
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$143M +$12M +136,014 +9%
State Street
22
State Street
Massachusetts
$142M +$124M +1,402,196 +735%
Fifth Third Bancorp
23
Fifth Third Bancorp
Ohio
$139M -$13.6M -154,322 -9%
Royal Bank of Canada
24
Royal Bank of Canada
Ontario, Canada
$125M -$7.75M -87,869 -6%
BP
25
Ballentine Partners
Massachusetts
$123M +$6.79M +76,937 +6%
1
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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.