VANGUARD EXPLORER FUND
VANGUARD EXPLORER FUND · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
VANGUARD EXPLORER FUND is an actively managed U.S. equity fund. 44% of VEXPX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 91% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
Vanguard Explorer Fund (the Fund) seeks to provide long-term capital appreciation.
The fund employs multiple independent advisors who actively select stocks of small and mid-size companies expected to deliver superior growth, typically offering little or no dividend income. Because each advisor maintains a separate portfolio, the fund's overall holdings and performance will reflect the distinct choices and timing of multiple managers rather than a single unified strategy.
| Share class | Expense ratio |
|---|---|
| VEXPX | 0.39% |
| VEXRX | 0.28% |
Portfolio turnover 51.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 97.76% |
| Cash & short-term | 2.77% |
| Derivatives | 0.03% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Industrials | 23.2% |
| Information Technology | 19.1% |
| Health Care | 15.3% |
| Financials | 11.0% |
| 10 smaller | 31.2% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
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 |
|---|---|---|---|---|---|
| +32.98% | +48.95% | +25.29% | 13.39% | -17.09% | |
| +33.12% | +49.44% | +25.98% | 13.39% | -17.05% |
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.
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 |
|---|---|---|---|---|---|
| — | Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 2.27% | — | $494.22M | — |
| BE | Bloom Energy CorpBE | 1.48% | $283.36 | $321.24M | 1.1M |
| CRDO | Credo Technology Group Holding LtdCRDO | 1.47% | $174.01 | $320.54M | 1.8M |
| FIX | Comfort Systems USA IncFIX | 1.19% | $1,840.25 | $258.85M | 140.7K |
| FN | FabrinetFN | 0.96% | $683.47 | $210.11M | 307.4K |
| MTSI | MACOM Technology Solutions Holdings IncMTSI | 0.94% | $281.61 | $204.49M | 726.1K |
| PR | Prc Newco IncPR | 0.91% | $21.62 | $198.57M | 9.2M |
| GWRE | Guidewire Software IncGWRE | 0.89% | $138.39 | $192.70M | 1.4M |
| VNOM | Viper Energy IncVNOM | 0.85% | $49.38 | $185.39M | 3.8M |
| SNDK | Sandisk CorpSNDK | 0.85% | $1,096.51 | $184.36M | 168.1K |
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.
Top 10 positions are 11.81% of net assets, top 25 22.94%, across 717 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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