VANGUARD WINDSOR II FUND
Actively managed U.S. stock fund
Vanguard Windsor II Fund (the Fund) seeks to provide long-term capital appreciation and income.
The fund employs multiple independent advisors who actively select large- and mid-cap stocks believed to be undervalued relative to earnings and book value, often favoring those with above-average dividend yields. The fund may invest up to 30% of assets in foreign securities. Because returns depend on each advisor's security selections and their divergence from market consensus, performance will vary with the skill of those selections.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 3.63% | $2.36B | — | — |
GOOGAlphabet Inc | 3.41% | $2.22B | 5.8M | $381.94 |
Taiwan Semiconductor Manufacturing Co Ltd | 2.43% | $1.58B | 4.0M | $396.06 |
AMZNAmazon.com Inc | 2.21% | $1.44B | 5.4M | $265.06 |
MSFTMicrosoft Corp | 2.08% | $1.35B | 3.3M | $407.78 |
1.90% | $1.24B | 3.3M | $376.42 | |
1.67% | $1.08B | 6.1M | $176.53 | |
1.59% | $1.04B | 13.8M | $74.80 | |
1.50% | $971.63M | 1.6M | $611.91 | |
CTVACorteva Inc | 1.45% | $942.65M | 11.6M | $81.01 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 181 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 96.67% |
| Cash & short-term | 3.63% |
| Derivatives | 0.05% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Financials
- 18.3%
- Information Technology
- 14.5%
- Health Care
- 11.0%
- Industrials
- 9.6%
- 10 other sectors
- 46.6%
- Financials
- 18.3%
- Information Technology
- 14.5%
- Health Care
- 11.0%
- Industrials
- 9.6%
- Communication Services
- 8.4%
- Other
- 8.2%
- Consumer Discretionary
- 6.5%
- Energy
- 5.0%
- Materials
- 4.4%
- Consumer Staples
- 4.3%
- International
- 3.7%
- Cash
- 3.6%
- Utilities
- 2.1%
- Real Estate
- 0.5%
How it has done
VWNFX share class · total returns with dividends reinvested
Volatility over the last 12 months: 10.05%. Past returns are a record, not a forecast.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.33% | +28.51% | +62.22% | +65.70% | -8.06% | |
| 0.24% | +28.64% | +62.63% | +66.39% | -8.03% |
These classes hold the same portfolio, so the 0.69pp spread over 5 years is the cost difference between them — roughly 0.14pp a year — not a difference in what they own.
Fees & fund details
VANGUARD WINDSOR II FUND is an actively managed U.S. equity fund. 7% of VWNFX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 87% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.24% – 0.33%· VWNFX 0.33%
- Portfolio turnover
- 22.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
13 new· the largest 8
13 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — VWNFX, QQQ and the fund in my 401(k)?”
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