VANGUARD WINDSOR FUND
Actively managed U.S. stock fund
As of its 2026 Q2 report, VANGUARD WINDSOR FUND held 141 positions with $24.25B in net assets. Its ten largest holdings made up 17.6% of the fund. The VWNDX share class costs 0.29% a year. Over the 12 months to May 2026, VWNDX returned 22.1%, with dividends reinvested. In 2026 Q3 it added 10 new positions and exited 18.
Vanguard Windsor Fund (the Fund) seeks to provide long-term capital appreciation and income.
The fund employs multiple independent advisors who actively select large- and mid-cap stocks they believe are undervalued relative to earnings and book value, often favoring those with above-average dividend yields. The fund may invest up to 30% of its assets in foreign securities. Because each advisor independently constructs its own portfolio, the fund's overall holdings and performance will reflect the divergent views and security selections of its multiple managers.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
AMZNAmazon.com Inc | 2.40% | $580.87M | 2.2M | $265.06 |
GOOGLAlphabet Inc | 2.32% | $563.17M | 1.5M | $384.80 |
1.93% | $468.39M | 7.3M | $64.07 | |
Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 1.83% | $443.03M | — | — |
1.61% | $390.88M | 2.1M | $190.59 | |
SLBSLB Ltd | 1.52% | $368.44M | 6.5M | $56.88 |
1.51% | $365.67M | 4.4M | $82.23 | |
1.50% | $364.96M | 1.1M | $327.00 | |
MSFTMicrosoft Corp | 1.49% | $360.17M | 883.2K | $407.78 |
1.47% | $357.39M | 3.3M | $109.18 |
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.
All 141 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 97.47% |
| Cash & short-term | 2.54% |
| Derivatives | 0.03% |
Derivatives are shown at market value, not notional exposure.
By sector
- Financials
- 21.5%
- Health Care
- 13.2%
- Information Technology
- 11.7%
- Consumer Discretionary
- 10.2%
- 10 other sectors
- 43.3%
- Financials
- 21.5%
- Health Care
- 13.2%
- Information Technology
- 11.7%
- Consumer Discretionary
- 10.2%
- Industrials
- 9.3%
- Other
- 7.6%
- Energy
- 5.2%
- Consumer Staples
- 4.8%
- Materials
- 4.1%
- Communication Services
- 3.1%
- Real Estate
- 2.9%
- International
- 2.4%
- Utilities
- 2.3%
- Cash
- 1.7%
How it has done
VWNDX share class · total returns with dividends reinvested
Volatility over the last 12 months: 10.44%. Past returns are a record, not a forecast.
Jun 2026 and Jul 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.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.29% | +22.05% | +53.36% | +57.51% | -10.05% | |
| 0.18% | +22.15% | +53.80% | +58.30% | -10.03% |
These classes hold the same portfolio, so the 0.80pp spread over 5 years is the cost difference between them — roughly 0.16pp a year — not a difference in what they own.
Fees & fund details
VANGUARD WINDSOR FUND is an actively managed U.S. equity fund. 12% of VWNDX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 87% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.18% – 0.29%· VWNDX 0.29%
- Portfolio turnover
- 45.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
10 new· the largest 8
18 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — VWNDX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”