VANGUARD GLOBAL CAPITAL CYCLES FUND
VANGUARD SPECIALIZED FUNDS · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
VANGUARD GLOBAL CAPITAL CYCLES FUND is an actively managed global equity fund.
- Asset class
- Equity
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
Fund profile
As filed in the prospectus · 2026 Q2
Vanguard Global Capital Cycles Fund (the Fund) seeks to provide long-term capital appreciation.
The fund employs active management to select U.S. and foreign equities across market capitalizations and developed and emerging markets, focusing on companies and industries where capital spending is declining and seeking those with differentiated offerings, low-cost advantages, or durable competitive positions that cannot be easily replicated. As a nondiversified fund, it may invest a greater percentage of assets in particular issuers than diversified funds. The fund concentrates at least 25% of net assets in precious metals and mining industry securities.
| Share class | Expense ratio |
|---|---|
| VGPMX | 0.42% |
Portfolio turnover 50.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.33% |
| Cash & short-term | 4.08% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 61.6% |
| Other | 14.8% |
| Health Care | 9.7% |
| Cash | 4.0% |
| 7 smaller | 9.9% |
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).
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
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 |
|---|---|---|---|---|---|
| — | Anglo American PLC | 4.14% | $49.48 | $160.10M | 3.2M |
| — | Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 4.08% | — | $157.55M | — |
| — | Glencore PLC | 3.68% | $7.77 | $142.33M | 18.3M |
| — | Anglogold Ashanti Plc | 3.26% | $93.73 | $126.03M | 1.3M |
| TECK | Teck Resources LtdTECK | 3.00% | $58.38 | $116.13M | 2.0M |
| — | SK Telecom Co Ltd | 2.93% | $64.80 | $113.12M | 1.7M |
| MOH | Molina Healthcare IncMOH | 2.83% | $194.62 | $109.57M | 563.0K |
| SSNLF | Samsung Electronics Co LtdSSNLF | 2.55% | $150.59 | $98.69M | 655.4K |
| AWK | American Water Works Co IncAWK | 2.48% | $128.42 | $95.67M | 745.0K |
| — | Taiwan Semiconductor Manufacturing Co Ltd | 2.44% | $396.06 | $94.35M | 238.2K |
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 31.40% of net assets, top 25 57.93%, across 87 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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