VANGUARD WINDSOR II FUND
VANGUARD WINDSOR FUNDS · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
VANGUARD WINDSOR II FUND is an actively managed U.S. equity fund. 7% of VWNFX’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
Fund profile
As filed in the prospectus · 2026 Q1
Vanguard Windsor II 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 believed to be undervalued relative to earnings and book value, often favoring those with above-average dividend yields. The fund may invest up to 30% of assets in foreign securities. Because returns depend on each advisor's security selections and their divergence from market consensus, performance will vary with the skill of those selections.
| Share class | Expense ratio |
|---|---|
| VWNFX | 0.33% |
| VWNAX | 0.24% |
Portfolio turnover 22.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 96.67% |
| Cash & short-term | 3.63% |
| Derivatives | 0.05% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Financials | 18.3% |
| Information Technology | 14.5% |
| Health Care | 11.0% |
| Industrials | 9.6% |
| 10 smaller | 46.6% |
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
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
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 |
|---|---|---|---|---|---|
| +28.51% | +62.22% | +65.70% | 10.05% | -8.06% | |
| +28.64% | +62.63% | +66.39% | 10.04% | -8.03% |
These classes hold the same portfolio, so the 0.69pp spread over 5 years is the cost difference between them — roughly 0.14pp 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 |
|---|---|---|---|---|---|
| — | Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 3.63% | — | $2.36B | — |
| GOOG | Alphabet IncGOOG | 3.41% | $381.94 | $2.22B | 5.8M |
| — | Taiwan Semiconductor Manufacturing Co Ltd | 2.43% | $396.06 | $1.58B | 4.0M |
| AMZN | Amazon.com IncAMZN | 2.21% | $265.06 | $1.44B | 5.4M |
| MSFT | Microsoft CorpMSFT | 2.08% | $407.78 | $1.35B | 3.3M |
| ELV | Elevance Health IncELV | 1.90% | $376.42 | $1.24B | 3.3M |
| CRM | Salesforce IncCRM | 1.67% | $176.53 | $1.08B | 6.1M |
| AIG | American International Group IncAIG | 1.59% | $74.80 | $1.04B | 13.8M |
| META | Meta Platforms IncMETA | 1.50% | $611.91 | $971.63M | 1.6M |
| CTVA | Corteva IncCTVA | 1.45% | $81.01 | $942.65M | 11.6M |
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 21.88% of net assets, top 25 38.75%, across 178 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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