VANGUARD TAX-MANAGED CAPITAL APPRECIATION FUND
VANGUARD TAX-MANAGED FUNDS · Series S000004384 · 2 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
Vanguard Tax-Managed Capital Appreciation Fund (the Fund) seeks to provide a tax-efficient return consisting of long-term capital appreciation while tracking the performance of a benchmark index that measures the investment return of large- and mid-capitalization stocks.
The fund tracks the Russell 1000 Index using statistical sampling, holding a range of large- and mid-capitalization stocks that approximate the index's characteristics and performance while pursuing tax efficiency. Because the fund samples rather than fully replicates the index, its returns may diverge from the index.
| Share class | Expense ratio |
|---|---|
| VTCLX | 0.05% |
| VTCIX | 0.03% |
Portfolio turnover 6.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.58% |
| Cash & short-term | 0.36% |
| Derivatives | 0.00% |
Derivatives are shown at market value, not notional exposure.
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 |
|---|---|---|---|---|---|
| +30.54% | +78.41% | +78.56% | 12.97% | -8.59% | |
| +30.57% | +78.56% | +78.82% | 12.96% | -8.57% |
These classes hold the same portfolio, so the 0.26pp spread over 5 years is the cost difference between them — roughly 0.05pp a year — not a difference in what they own.
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
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| NVDA | NVIDIA CorpNVDA | 6.80% | $200.09 | $2.03B | 10.2M |
| AAPL | Apple IncAAPL | 6.08% | $289.36 | $1.82B | 6.3M |
| MSFT | Microsoft CorpMSFT | 3.93% | $373.02 | $1.17B | 3.1M |
| AMZN | Amazon.com IncAMZN | 3.31% | $238.34 | $989.15M | 4.2M |
| GOOGL | Alphabet IncGOOGL | 2.91% | $357.37 | $870.60M | 2.4M |
| AVGO | Broadcom IncAVGO | 2.52% | $377.75 | $752.24M | 2.0M |
| GOOG | Alphabet IncGOOG | 2.46% | $353.33 | $735.30M | 2.1M |
| MU | Micron Technology IncMU | 1.85% | $1,154.29 | $552.31M | 478.5K |
| META | Meta Platforms IncMETA | 1.79% | $563.29 | $535.77M | 951.1K |
| TSLA | Tesla IncTSLA | 1.75% | $420.60 | $523.95M | 1.2M |
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 33.41% of net assets, top 25 47.40%, across 878 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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