VANGUARD STRATEGIC SMALL-CAP EQUITY FUND

VANGUARD HORIZON FUNDS · 1 share class

Actively managed U.S. equity fund
One fund, 1 share class:VSTCX
$3.13B NAV
658 positions · as of 2026-06-30 · filed 2026-08-28

Fund classification

Classified from what the fund holds · as of 2026 Q2

VANGUARD STRATEGIC SMALL-CAP EQUITY FUND is an actively managed U.S. equity fund. 19% of VSTCX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 97% 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 Strategic Small-Cap Equity Fund (the Fund) seeks to provide long-term capital appreciation.

Strategy · summarised

The fund employs active management to select small-cap U.S. stocks, targeting companies within the market-capitalization range of the MSCI US Small Cap 1750 Index. The fund invests at least 80% of its net assets in small-cap equity securities. Because the fund's performance depends on the manager's security selection decisions, returns may diverge from those of its benchmark index.

Expenses
0.21%one share class
Share classExpense ratio
VSTCX0.21%

Portfolio turnover 66.00% · as of 2026 Q1

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

99.92%
of net assets
Stocks99.20%
Cash & short-term0.71%
Derivatives0.01%

Derivatives are shown at market value, not notional exposure.

Sector allocation

The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2

100%
of net assets
Industrials18.1%
Financials18.0%
Information Technology16.1%
Health Care14.9%
9 smaller32.9%

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).

Portfolio growth profile

How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2

Revenue growth
19%of stock holdings in top-quartile growers
covering 97% of the fund’s equity

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

2026Q2 vs 2026Q1: 102 new80 exited

Largest new: ARW, NPO, REPX, RXRX, BTSG, ETSY, ECVT, CHE

Largest exited: LEG, BTU, HWC, Apellis Pharmaceuticals Inc, HUN, OGN, NTRA, HLIT

Return profile

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

1-year
+48.83%
3-year
+82.38%
5-year
+74.97%
Volatility
13.91%
Worst 3-yr fall
-18.24%
Cumulative return· Jul 2023 – Apr 2026

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

Issuer%NAVValue
Jazz Pharmaceuticals PLCJAZZ0.78%$24.27M
Extreme Networks IncEXTR0.77%$24.10M
MKS Instruments IncMKSI0.76%$23.64M
EnerSysENS0.74%$23.28M
Popular IncBPOP0.74%$23.25M
Zions Bancorp NAZION0.74%$23.24M
Affiliated Managers Group IncAMG0.72%$22.47M
Vanguard Cmt Funds-Vanguard Market Liquidity Fund0.71%$22.19M
MYR Group IncMYRG0.68%$21.27M
Virtu Financial IncVIRT0.66%$20.53M
Showing 10 of 658Sign in to see more

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 7.30% of net assets, top 25 15.66%, across 658 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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