Vanguard Specialized Funds - Vanguard Real Estate ETF
US ˙ ARCA ˙ US9229085538

SecurityVNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF
InstitutionKovack Advisors, Inc.
Latest Disclosed Ownership14,607 shares
Latest Disclosed Value $ 1,300,285
Kovack Advisors, Inc. reports 32.10% decrease in ownership of VNQ / Vanguard Specialized Funds - Vanguard Real Estate ETF

On May 12, 2026 - Kovack Advisors, Inc. filed a 13F-HR form disclosing ownership of 14,607 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF (US:VNQ) valued at $1,295,641 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on February 17, 2026 disclosing 21,514 shares of Vanguard Specialized Funds - Vanguard Real Estate ETF. This represents a change in shares of -32.10% during the quarter. The current value of the position is $1,413,812 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-12 2026-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 14,607 -6,907 -32.10 1,300 -31.69 0.0694
2026-02-17 2025-12-31 13F/A-1 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 21,514 8,446 64.63 1,904 59.38 0.0885
2026-02-12 2025-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 21,514 8,446 1,225
2025-11-10 2025-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 13,068 112 0.86 1,195 3.56 0.1125
2025-08-04 2025-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,956 136 1.06 1,154 -0.60 0.1131
2025-05-06 2025-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,820 538 4.38 1,161 6.03 0.1229
2025-02-05 2024-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 12,282 749 6.49 1,094 -2.58 0.1074
2024-11-05 2024-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 11,533 300 2.67 1,124 19.47 0.1190
2024-08-05 2024-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 11,233 207 1.88 941 -1.36 0.1035
2024-04-19 2024-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 11,026 306 2.85 954 0.63 0.1155
2024-02-02 2023-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 10,720 -3 -0.03 947 16.77 0.1125
2023-10-19 2023-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 10,723 -132 -1.22 811 -10.58 0.1132
2023-07-21 2023-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 10,855 256 2.42 907 3.07 0.1162
2023-04-21 2023-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF 922908553 10,599 511 5.07 880 5.77 0.1200
2023-02-22 2022-12-31 13F VANGUARD REAL ESTATE ETF ETF 922908553 10,088 307 3.14 832 6.12 0.1216
2022-11-14 2022-09-30 13F VANGUARD REAL ESTATE ETF ETF 922908553 9,781 -565 -5.46 784 -16.86 0.1151
2022-08-10 2022-06-30 13F VANGUARD REAL ESTATE ETF ETF 922908553 10,346 -99 -0.95 943 -16.62 0.1244
2022-05-16 2022-03-31 13F VANGUARD REAL ESTATE ETF ETF 922908553 10,445 -436 -4.01 1,131 -10.38 0.1162
2022-01-18 2021-12-31 13F VANGUARD REAL ESTATE ETF ETF 922908553 10,881 2,935 36.94 1,262 56.00 0.1219
2021-11-03 2021-09-30 13F VANGUARD REAL ESTATE ETF ETF 922908553 7,946 496 6.66 809 6.73 0.0879
2021-07-29 2021-06-30 13F VANGUARD REAL ESTATE ETF ETF 922908553 7,450 754 11.26 758 23.25 0.0863
2021-05-04 2021-03-31 13F VANGUARD REAL ESTATE ETF ETF 922908553 6,696 134 2.04 615 10.41 0.0799
2021-01-14 2020-12-31 13F VANGUARD REAL ESTATE ETF ETF 922908553 6,562 -5,733 -46.63 557 -42.64 0.0802
2020-11-02 2020-09-30 13F VANGUARD REAL ESTATE ETF REAL ESTATE ETF 922908553 12,295 -1,211 -8.97 971 -8.48 0.1728
2020-07-31 2020-06-30 13F VANGUARD REAL ESTATE ETF ETF 922908553 13,506 -657 -4.64 1,061 7.28 0.2066
2020-04-30 2020-03-31 13F VANGUARD REAL ESTATE ETF REAL ESTATE ETF 922908553 14,163 -11,935 -45.73 989 -59.17 0.2284
2020-01-29 2019-12-31 13F VANGUARD REAL ESTATE ETF REAL ESTATE ETF 922908553 26,098 -812 -3.02 2,422 -3.47 0.4329
2019-10-31 2019-09-30 13F VANGUARD REAL ESTATE ETF REAL ESTATE ETF 922908553 26,910 1,776 7.07 2,509 14.20 0.5148
2019-08-14 2019-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 25,134 1,102 4.59 2,197 5.17 0.5022
2019-05-03 2019-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 24,032 405 1.71 2,089 18.56 0.5209
2019-02-06 2018-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF INDEX FDS REAL ESTATE ETF 922908553 23,627 -930 -3.79 1,762 -11.06 0.5152
2018-10-09 2018-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 24,557 515 2.14 1,981 1.17 0.5109
2018-08-01 2018-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 24,042 -587 -2.38 1,958 5.33 0.5469
2018-05-15 2018-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 24,629 1,357 5.83 1,859 -3.73 0.4664
2018-05-15 2017-12-31 13F/A-1 VANGUARD INDEX FDS REIT ETF 922908553 23,272 -310 -1.31 1,931 -1.43 0.4880
2018-08-02 2017-09-30 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 23,582 1,277 5.73 1,959 5.55 0.6498
2018-08-30 2017-06-30 13F VANGUARD INDEX FDS REAL ESTATE ETF INDEX FDS REAL ESTATE ETF 922908553 22,305 5,036 29.16 1,856 30.15 0.5857
2018-09-05 2017-03-31 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 17,269 8,986 108.49 1,426 108.48 0.5552
2018-09-10 2016-12-31 13F VANGUARD INDEX FDS REAL ESTATE ETF REAL ESTATE ETF 922908553 8,283 8,283 684 0.3255
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.