VANGUARD CAPITAL OPPORTUNITY FUND
VANGUARD HORIZON FUNDS · Series S000002594 · 2 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q1
Vanguard Capital Opportunity Fund (the Fund) seeks to provide long-term capital appreciation.
The fund uses fundamental research to identify U.S. stocks expected to outperform the market over a three- to five-year horizon at attractive valuations, with an emphasis on mid-cap companies but flexibility across the capitalization spectrum and up to 25% in foreign securities. Because returns depend on the manager's security selection, the fund's performance may diverge materially from the broader market.
| Share class | Expense ratio |
|---|---|
| VHCOX | 0.40% |
| VHCAX | 0.32% |
Portfolio turnover 11.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 97.28% |
| Cash & short-term | 3.52% |
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +44.31% | +85.24% | +75.21% | 16.17% | -9.50% | |
| +44.43% | +85.64% | +75.83% | 16.16% | -9.48% |
These classes hold the same portfolio, so the 0.63pp spread over 5 years is the cost difference between them — roughly 0.13pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| MU | Micron Technology IncMU | 12.30% | $1,154.29 | $4.02B | 3.5M |
| LLY | Eli Lilly & CoLLY | 6.40% | $1,199.43 | $2.09B | 1.7M |
| FLEX | Flex LtdFLEX | 4.75% | $162.07 | $1.55B | 9.6M |
| — | Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 3.52% | — | $1.15B | — |
| INTC | Intel CorpINTC | 3.25% | $139.63 | $1.06B | 7.6M |
| KLAC | KLA CorpKLAC | 3.19% | $301.71 | $1.04B | 3.5M |
| NVDA | NVIDIA CorpNVDA | 2.11% | $200.09 | $689.56M | 3.4M |
| GOOGL | Alphabet IncGOOGL | 2.00% | $357.37 | $653.22M | 1.8M |
| BIIB | Biogen IncBIIB | 1.73% | $216.06 | $567.01M | 2.6M |
| GOOG | Alphabet IncGOOG | 1.63% | $353.33 | $531.59M | 1.5M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 40.87% of net assets, top 25 60.42%, across 194 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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