VANGUARD PORTFOLIO MANAGEMENT LLC

CIK 0002100121 · Q2 2026

13F Equity AUM

$2.2T

+15.9% QoQ

Positions

2,930

+126 QoQ

AUM Rank

Top 0.1%

Skill Alpha (FF)

—

Building track record (1q)

Quarters Tracked

~0 years

Portfolio Concentration

Top 5: 15.6%Top 10: 21.6%Top 20: 29.0%

NVDA4.7%

AAPL4.4%

MSFT2.8%

AVGO2.2%

GOOGL1.6%

AMZN1.3%

MU1.3%

GOOG1.3%

LLY1.1%

AMD1.0%

Others (2920)78.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology33.0%

Financial Services11.3%

Industrials10.7%

Healthcare9.6%

Consumer Cyclical7.5%

Communication Services5.9%

Real Estate5.7%

Energy4.0%

Other12.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 2930Median: 0.01%Avg: 0.03%

0–0.5%

2906(68.8%)

0.5–1%

15(10.6%)

1–3%

7(11.6%)

3–5%

2(9.0%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 2,930vs 20 funds

0%Low

2,930

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New198Increased2080Decreased855Exited151

New Positions

CARNIVAL CORP LTD0.1%

+62.4M

HONEYWELL INTL INC0.1%

+7.9M

SPACE EXPLORATION TE…0.1%

+10.2M

HONEYWELL AEROSPACE …0.1%

+7.5M

DUPONT DE NEMOURS IN…0.0%

+6.4M

FEDEX FGHT HLDG CO I…0.0%

+4.9M

CEREBRAS SYSTEMS INC0.0%

+1.6M

MADISON AIR SOLUTION…0.0%

+3.1M

VERSIGENT PLC0.0%

+4.2M

AXTI0.0%

+1.8M

Increased

KLAC0.5%

+35.4M(+878%)

CVNA0.1%

+25.8M(+407%)

HPO0.0%

+24.8M(+309%)

DVN0.1%

+22.9M(+67%)

TFC0.1%

+17.8M(+74%)

NKE0.1%

+17.3M(+61%)

BKNG0.1%

+13.9M(+2353%)

BMNR0.0%

+13.7M(+160%)

ONDS0.0%

+12.3M(+8906%)

CDE0.0%

+10.9M(+36%)

Decreased

MRVL0.3%

-12,202,610(-37%)

PINS0.0%

-9,664,088(-33%)

GLW0.2%

-9,351,670(-33%)

OWL0.0%

-8,653,778(-24%)

SEM0.0%

-6,721,423(-100%)

OGN0.0%

-6,713,918(-31%)

ALIT0.0%

-6,659,001(-41%)

IBKR0.0%

-6,260,253(-42%)

AMZN1.3%

-5,385,950(-4%)

AUR0.0%

-5,361,033(-6%)

Exited

HON

-15,650,414

CCL

-54,775,945

CTRA

-36,976,013

-19,304,309

HOLX

-9,620,600

3M4

-2,006,861

CWAN

-18,293,833

-6,249,290

SEE

-8,492,252

-10,569,892

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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