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Vanguard Real Estate ETF
VNQ

1,673 hedge funds and large institutions have $19.7B invested in Vanguard Real Estate ETF in 2025 Q3 according to their latest regulatory filings, with 100 funds opening new positions, 712 increasing their positions, 614 reducing their positions, and 71 closing their positions.

New
Increased
Maintained
Reduced
Closed

41% more first-time investments, than exits

New positions opened: 100 | Existing positions closed: 71

16% more repeat investments, than reductions

Existing positions increased: 712 | Existing positions reduced: 614

5% more capital invested

Capital invested by funds: $18.8B → $19.7B (+$897M)

0% more funds holding

Funds holding: 1,670 → 1,673 (+3)

3% less funds holding in top 10

Funds holding in top 10: 100 → 97 (-3)

3.93% less ownership

Funds ownership: 61.42% → 57.5% (-3.9%)

23% less call options, than puts

Call options by funds: $91.3M | Put options by funds: $119M

Holders
1,673
Holders Change
+3
Holders Change %
+0.18%
% of All Funds
21.96%
Holding in Top 10
97
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-3%
% of All Funds
1.27%
New
100
Increased
712
Reduced
614
Closed
71
Calls
$91.3M
Puts
$119M
Net Calls
-$27.6M
Net Calls Change
+$18.7M

Top Buyers

1
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$76.8M
2
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$75M
3
SHGA
Sand Hill Global Advisors
California
+$69.5M
4
Empower Advisory Group
Empower Advisory Group
Colorado
+$52.6M
5
Wealthfront Advisers
Wealthfront Advisers
California
+$51.3M

Top Sellers

1
State Street
State Street
Massachusetts
-$112M
2
Goldman Sachs
Goldman Sachs
New York
-$95.9M
3
Creative Planning
Creative Planning
Kansas
-$37.9M
4
Citigroup
Citigroup
New York
-$27.7M
5
PCP
Proficio Capital Partners
Massachusetts
-$15.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
Empower Advisory Group
1
Empower Advisory Group
Colorado
$1.37B +$52.6M +580,206 +4%
Creative Planning
2
Creative Planning
Kansas
$1.21B -$37.9M -417,419 -3%
Northwestern Mutual Wealth Management
3
Northwestern Mutual Wealth Management
Wisconsin
$1B +$76.8M +847,016 +8%
Bank of America
4
Bank of America
North Carolina
$925M -$5.18M -57,075 -0.6%
Morgan Stanley
5
Morgan Stanley
New York
$894M +$5.92M +65,252 +0.7%
Wealthfront Advisers
6
Wealthfront Advisers
California
$854M +$51.3M +565,655 +6%
State of New Jersey Common Pension Fund D
7
State of New Jersey Common Pension Fund D
New Jersey
$786M – – –
JP Morgan Chase
8
JP Morgan Chase
New York
$780M +$45.2M +498,006 +6%
US Bancorp
9
US Bancorp
Minnesota
$473M +$11.3M +124,389 +2%
Prudential Financial
10
Prudential Financial
New Jersey
$428M +$38.5M +424,073 +10%
Wells Fargo
11
Wells Fargo
California
$395M -$2.58M -28,437 -0.7%
Financial Engines Advisors
12
Financial Engines Advisors
California
$303M +$2.92M +32,240 +1%
Goldman Sachs
13
Goldman Sachs
New York
$264M -$95.9M -1,057,240 -27%
Bank of New York Mellon
14
Bank of New York Mellon
New York
$245M -$8.34M -91,971 -3%
State of Tennessee, Department of Treasury
15
State of Tennessee, Department of Treasury
Tennessee
$220M +$26.4M +290,638 +14%
LPL Financial
16
LPL Financial
California
$205M +$13.1M +144,710 +7%
Envestnet Asset Management
17
Envestnet Asset Management
Illinois
$199M -$11.2M -122,949 -5%
Cetera Investment Advisers
18
Cetera Investment Advisers
Illinois
$186M +$75M +827,124 +68%
Mariner
19
Mariner
Kansas
$182M +$469K +5,174 +0.3%
PFA
20
Pure Financial Advisors
California
$181M +$9.87M +108,867 +6%
UBS Group
21
UBS Group
Switzerland
$174M +$11.2M +123,629 +7%
SHGA
22
Sand Hill Global Advisors
California
$148M +$69.5M +766,582 +89%
Manulife (Manufacturers Life Insurance)
23
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$145M -$2.03M -22,357 -1%
Fifth Third Bancorp
24
Fifth Third Bancorp
Ohio
$140M -$3.41M -37,568 -2%
BP
25
Ballentine Partners
Massachusetts
$134M +$8.04M +88,660 +6%
1
2 3 4 5

VNQ Hedge Fund Activity: Q3 2025 in Review

1,673 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Vanguard Real Estate ETF (VNQ) for Q3 2025, worth a combined $19.7B — up 4.8% from $18.8B a quarter earlier.

Buyers outnumbered sellers: 100 funds opened new VNQ positions and 71 closed out — a net gain of 29 holders — while 712 added to existing stakes and 614 trimmed.

The largest buyer was Northwestern Mutual Wealth Management, adding an estimated $76.8M. The largest seller was State Street, cutting an estimated $112M.

  • 1,673 institutional investors held Vanguard Real Estate ETF (VNQ) as of Q3 2025, up from 1,670 in Q2 2025.
  • Funds reported $19.7B of Vanguard Real Estate ETF stock for Q3 2025, up 4.8% quarter-over-quarter.
  • 100 funds opened new Vanguard Real Estate ETF positions in Q3 2025 and 71 closed out, a net change of +29 holders.
  • The largest Vanguard Real Estate ETF buyer in Q3 2025 was Northwestern Mutual Wealth Management, an estimated $76.8M added.
  • The largest Vanguard Real Estate ETF seller in Q3 2025 was State Street, an estimated $112M sold.

Based on aggregated 13F filings for Q3 2025.