FUND-LEVEL 13F POSITIONING DASHBOARD

Vanguard · 单基金13F持仓深度分析

聚焦增减仓路径、核心底仓结构与行业配置迁移，识别季度内仓位重构信号。

披露季度: 2026Q1 对比基准: 2025Q4 净市值: $16.6B 标的数: 2,234 仓位变动率: 46.6%
Panel 1: 增仓与建仓
标的发行人全称增持/建仓额
▸ 大幅增持 (Top 10)
ISHARES TR ISHARES TR +$56M+20049.5%
SCHWAB STRAT SCHWAB STRATEGIC TR +$17M+1022.3%
TAIWAN SEMIC TAIWAN SEMICONDUCTOR MANUFAC +$11M+34.4%
BANCO SANTAN BANCO SANTANDER SA +$7M+3691.8%
ISHARES INC ISHARES INC +$2M+604.5%
DIMENSIONAL DIMENSIONAL ETF TRUST +$2M+187.6%
GOLDMAN SACH GOLDMAN SACHS ETF TR +$1M+509.9%
J P MORGAN E J P MORGAN EXCHANGE TRADED F +$1M+454.8%
TAKEDA PHARM TAKEDA PHARMACEUTICAL CO LTD +$858K+54.0%
SPDR INDEX S SPDR INDEX SHS FDS +$695K+151.7%
▸ 新建仓位 (Top 5)
ASML HLDG NVNEW ASML HLDG NV 首次建仓市值 $28M
NOVARTIS AGNEW NOVARTIS AG 首次建仓市值 $18M
ASTRAZENECA NEW ASTRAZENECA PLC 首次建仓市值 $14M
SHELL PLCNEW SHELL PLC 首次建仓市值 $13M
HSBC HLDGS PNEW HSBC HLDGS PLC 首次建仓市值 $11M
Panel 2: 减持与清仓
标的发行人全称减持/清仓额
▸ 大幅减持 (Top 10)
NVIDIA CORPO NVIDIA CORPORATION $-422.1B-99.8%
APPLE INC APPLE INC $-387.2B-99.8%
MICROSOFT CO MICROSOFT CORP $-346.8B-99.9%
AMAZON COM I AMAZON COM INC $-194.8B-99.9%
BROADCOM INC BROADCOM INC $-166.8B-99.9%
ALPHABET INC ALPHABET INC $-165.1B-99.7%
META PLATFOR META PLATFORMS INC $-131.8B-99.9%
TESLA INC TESLA INC $-116.3B-99.9%
ELI LILLY AM ELI LILLY AMP CO $-88.0B-99.9%
JPMORGAN CHA JPMORGAN CHASE AMP CO $-85.5B-99.8%
▸ 已清仓 (Top 5)
VANGUARD STAEXIT VANGUARD STAR FDS -100.0%
VANGUARD CHAEXIT VANGUARD CHARLOTTE FDS -100.0%
VANGUARD SPEEXIT VANGUARD SPECIALIZED FUNDS -100.0%
EXACT SCIENCEXIT EXACT SCIENCES CORP -100.0%
VANGUARD TAXEXIT VANGUARD TAX MANAGED FDS -100.0%
Panel 3: 核心底仓与行业矩阵（前100持仓）
前 5 大核心重仓股
1. RTX CORPORATION
13.12%
2. QUANTA SVCS INC
4.22%
3. NVIDIA CORPORATION
3.93%
4. APPLE INC
3.61%
5. TRAVELERS COMPANIES INC
3.26%
行业配置矩阵演变 (2025Q4 → 2026Q1)
核心行业
权重交叠 (2025Q4 → 2026Q1)
最新占比
Technology / TMT
-22.3%
2025Q4: 61.9%
2026Q1: 39.6%
Industrials / Energy
+17.3%
2025Q4: 7.2%
2026Q1: 24.5%
Financials
+2.0%
2025Q4: 11.0%
2026Q1: 13.1%
Healthcare
+3.1%
2025Q4: 9.3%
2026Q1: 12.3%
Consumer / Retail
+0.9%
2025Q4: 7.6%
2026Q1: 8.5%
Real Estate
-0.4%
2025Q4: 1.1%
2026Q1: 0.6%
ETF / Index Funds
-0.5%
2025Q4: 0.9%
2026Q1: 0.5%
Communications / Telecom
-0.3%
2025Q4: 0.7%
2026Q1: 0.4%
Mining / Commodities
-0.1%
2025Q4: 0.3%
2026Q1: 0.3%
浅色底层=2025Q4历史 · 深色覆盖=2026Q1最新分布

Panel 1 增仓复盘

本季度增仓积极，共10个仓位显著增持（合计+$100M），5个全新建仓（合计$84M）。增量资金集中涌入ETF板块（7/15笔），代表标的：ISHARES TR、SCHWAB STRATEGIC TR。

Panel 2 减仓复盘

防御性减仓显著：10个仓位减持（-$2120.6B），5个完全清仓（-$16.3B），防御姿态明确。减仓高度集中于Technology板块（8/15笔），代表标的：NVIDIA CORPORATION、APPLE INC、MICROSOFT CORP。

Panel 3 结构轮动特征

板块轮动特征显著：Industrials +17.3%，Financials+2.0%；Technology -22.3%。结构分化清晰。

宏观操盘风格与归因

大幅减持TMT(-22pp)，转向工业(+17pp)与消费(+1pp)，风格切向价值周期

SEC Form 13F DATA | BUYSIDE TRACER DASHBOARD V3.1 | Vanguard 2026Q1 | 2026-05-27 19:08