Vanguard Real Estate ETF
1,759 hedge funds and large institutions have $19.6B invested in Vanguard Real Estate ETF in 2025 Q4 according to their latest regulatory filings, with 220 funds opening new positions, 722 increasing their positions, 588 reducing their positions, and 95 closing their positions.
132% more first-time investments, than exits
New positions opened: 220 | Existing positions closed: 95
23% more repeat investments, than reductions
Existing positions increased: 722 | Existing positions reduced: 588
6% more funds holding in top 10
Funds holding in top 10: 97 → 103 (+6)
5% more funds holding
Funds holding: 1,677 → 1,759 (+82)
1.32% more ownership
Funds ownership: 57.51% → 58.83% (+1.3%)
0% less capital invested
Capital invested by funds: $19.7B → $19.6B (-$58.8M)
12% less call options, than puts
Call options by funds: $78.8M | Put options by funds: $89.6M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
+$321M |
| 2 |
Corient Private Wealth
Miami,
Florida
|
+$109M |
| 3 |
Empower Advisory Group
Greenwood Village,
Colorado
|
+$102M |
| 4 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
+$92.9M |
| 5 |
Wealthfront Advisers
Palo Alto,
California
|
+$62.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BNP Paribas Financial Markets
Paris,
France
|
-$123M |
| 2 |
Caisse de Depot et Placement du Quebec (CDPQ)
Montreal,
Quebec, Canada
|
-$112M |
| 3 |
D.E. Shaw & Co
New York
|
-$62.3M |
| 4 |
1832 Asset Management
Toronto,
Ontario, Canada
|
-$60.3M |
| 5 |
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
|
-$59.9M |
VNQ Hedge Fund Activity: Q4 2025 in Review
1,759 institutional investors reported a position in Vanguard Real Estate ETF (VNQ) for Q4 2025, worth a combined $19.6B — down 0.3% from $19.7B a quarter earlier.
Buyers outnumbered sellers: 220 funds opened new VNQ positions and 95 closed out — a net gain of 125 holders — while 722 added to existing stakes and 588 trimmed.
The largest buyer was Two Sigma Investments, opening a new position worth an estimated $321M. The largest seller was BNP Paribas Financial Markets, cutting an estimated $123M.
- 1,759 institutional investors held Vanguard Real Estate ETF (VNQ) as of Q4 2025, up from 1,677 in Q3 2025.
- Funds reported $19.6B of Vanguard Real Estate ETF stock for Q4 2025, down 0.3% quarter-over-quarter.
- 220 funds opened new Vanguard Real Estate ETF positions in Q4 2025 and 95 closed out, a net change of +125 holders.
- The largest Vanguard Real Estate ETF buyer in Q4 2025 was Two Sigma Investments, an estimated $321M added.
- The largest Vanguard Real Estate ETF seller in Q4 2025 was BNP Paribas Financial Markets, an estimated $123M sold.
Based on aggregated 13F filings for Q4 2025.