VANGUARD CAPITAL OPPORTUNITY FUND
Actively managed U.S. stock fund
As of its 2026 Q2 report, VANGUARD CAPITAL OPPORTUNITY FUND held 195 positions with $32.70B in net assets. Its ten largest holdings made up 40.9% of the fund. The VHCOX share class costs 0.4% a year. Over the 12 months to May 2026, VHCOX returned 56.1%, with dividends reinvested. In 2026 Q2 it added 8 new positions and exited 3.
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.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
12.30% | $4.02B | 3.5M | $1,154.29 | |
6.40% | $2.09B | 1.7M | $1,199.43 | |
FLEXFlex Ltd | 4.75% | $1.55B | 9.6M | $162.07 |
Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 3.52% | $1.15B | — | — |
INTCIntel Corp | 3.25% | $1.06B | 7.6M | $139.63 |
KLACKLA Corp | 3.19% | $1.04B | 3.5M | $301.71 |
NVDANVIDIA Corp | 2.11% | $689.56M | 3.4M | $200.09 |
GOOGLAlphabet Inc | 2.00% | $653.22M | 1.8M | $357.37 |
BIIBBiogen Inc | 1.73% | $567.01M | 2.6M | $216.06 |
GOOGAlphabet Inc | 1.63% | $531.59M | 1.5M | $353.33 |
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.
All 195 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 | 97.28% |
| Cash & short-term | 3.52% |
By sector
- Information Technology
- 40.5%
- Health Care
- 19.0%
- Industrials
- 11.4%
- Financials
- 6.2%
- 10 other sectors
- 22.8%
- Information Technology
- 40.5%
- Health Care
- 19.0%
- Industrials
- 11.4%
- Financials
- 6.2%
- Consumer Discretionary
- 5.9%
- Other
- 5.5%
- Communication Services
- 4.3%
- Cash
- 3.5%
- Energy
- 1.4%
- International
- 1.2%
- Consumer Staples
- 0.8%
- Real Estate
- 0.1%
- Materials
- 0.1%
- Utilities
- 0.0%
How it has done
VHCOX share class · total returns with dividends reinvested
Volatility over the last 12 months: 19.19%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.40% | +56.13% | +107.58% | +96.39% | -9.50% | |
| 0.32% | +56.25% | +108.03% | +97.07% | -9.48% |
These classes hold the same portfolio, so the 0.68pp 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 CAPITAL OPPORTUNITY FUND is an actively managed U.S. equity fund. 20% of VHCOX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 89% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.32% – 0.40%· VHCOX 0.40%
- Portfolio turnover
- 11.00% 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.
8 new
3 exited
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 — VHCOX, QQQ and the fund in my 401(k)?”
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