VANGUARD HEALTH CARE FUND
VANGUARD SPECIALIZED FUNDS · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
VANGUARD HEALTH CARE FUND is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
Fund profile
As filed in the prospectus · 2026 Q2
Vanguard Health Care Fund (the Fund) seeks to provide long-term capital appreciation.
The fund pursues long-term capital appreciation through active management, investing at least 80% of assets in stocks of companies engaged in health care development, production, or distribution—including pharmaceutical firms, medical suppliers, hospitals, and research-focused businesses—while seeking balanced representation across health care subsectors. The fund is nondiversified under the Investment Company Act of 1940, meaning it may invest a greater percentage of its assets in particular issuers than diversified funds, and it concentrates more than 25% of assets in health care securities as a matter of fundamental policy. Up to 50% of assets may be invested in foreign stocks.
| Share class | Expense ratio |
|---|---|
| VGHCX | 0.33% |
| VGHAX | 0.27% |
Portfolio turnover 47.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.41% |
| Cash & short-term | 1.31% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Health Care | 75.6% |
| International | 21.0% |
| Other | 3.1% |
| Financials | 0.3% |
| Cash | 0.1% |
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
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +13.41% | +14.03% | +29.37% | 15.18% | -20.62% | |
| +13.47% | +14.18% | +29.69% | 15.17% | -20.58% |
These classes hold the same portfolio, so the 0.32pp spread over 5 years is the cost difference between them — roughly 0.06pp 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 |
|---|---|---|---|---|---|
| LLY | Eli Lilly & CoLLY | 9.08% | $934.60 | $3.35B | 3.6M |
| MRK | Merck & Co IncMRK | 5.41% | $109.18 | $2.00B | 18.3M |
| — | AstraZeneca PLC | 5.09% | $189.72 | $1.88B | 9.9M |
| UNH | UnitedHealth Group IncUNH | 3.92% | $370.48 | $1.44B | 3.9M |
| JNJ | Johnson & JohnsonJNJ | 3.45% | $229.85 | $1.27B | 5.5M |
| EW | Edwards Lifesciences CorpEW | 3.21% | $83.50 | $1.18B | 14.2M |
| — | GSK PLC | 3.13% | $26.22 | $1.15B | 44.0M |
| ISRG | Intuitive Surgical IncISRG | 2.71% | $457.61 | $1.00B | 2.2M |
| BSX | Boston Scientific CorpBSX | 2.35% | $57.61 | $868.21M | 15.1M |
| DHR | Danaher CorpDHR | 2.35% | $178.95 | $865.49M | 4.8M |
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 40.71% of net assets, top 25 66.52%, across 98 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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