# Portfolio overlap — VTCIX vs PBUS

Comparing **VANGUARD TAX-MANAGED CAPITAL APPRECIATION FUND** (2026-03-31) and **Invesco MSCI USA ETF** (2026-02-28).

- Shared positions: 504
- VANGUARD TAX-MANAGED CAPITAL APPRECIATION FUND covered by Invesco MSCI USA ETF: 0.8759031297788994364726650005
- Invesco MSCI USA ETF covered by VANGUARD TAX-MANAGED CAPITAL APPRECIATION FUND: 0.8759031297788994364726650005

## VANGUARD TAX-MANAGED CAPITAL APPRECIATION FUND — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| NVIDIA CORP | 0.068105 | ✓ |
| APPLE INC | 0.061321 | ✓ |
| MICROSOFT CORP | 0.045699 | ✓ |
| AMAZON.COM INC | 0.032853 | ✓ |
| ALPHABET INC CL A | 0.026937 | ✓ |
| ALPHABET INC CL C | 0.023793 | ✓ |
| BROADCOM INC | 0.023614 | ✓ |
| META PLATFORMS INC CL A | 0.020924 | ✓ |
| TESLA INC | 0.017274 | ✓ |
| BERKSHIRE HATH-B | 0.016306 | ✓ |
| JPMORGAN CHASE and CO | 0.013507 | ✓ |
| LILLY ELI and CO | 0.012344 | ✓ |
| EXXON MOBIL CORP | 0.011733 | ✓ |
| JOHNSON&JOHNSON | 0.009421 | ✓ |
| WALMART INC | 0.009201 | ✓ |
| VISA INC-CLASS A | 0.008374 | ✓ |
| COSTCO WHOLESALE CORP | 0.007602 | ✓ |
| NETFLIX INC | 0.007094 | ✓ |
| MASTERCARD INC CL A | 0.006833 | ✓ |
| CHEVRON CORP | 0.006711 | ✓ |
| MICRON TECHNOLOGY INC | 0.006035 | ✓ |
| ABBVIE INC | 0.006013 | ✓ |
| LAM RESEARCH CORP | 0.005804 | ✓ |
| BANK OF AMERICA CORPORATION | 0.005633 | ✓ |
| PROCTER & GAMBLE | 0.005625 | ✓ |
| ADV MICRO DEVICE | 0.005306 | ✓ |
| CATERPILLAR INC | 0.005194 | ✓ |
| PALANTIR TECHNOLOGIES INC | 0.005162 | ✓ |
| HOME DEPOT INC | 0.005081 | ✓ |
| GENERAL ELECTRIC CO | 0.004958 | ✓ |
| CISCO SYSTEMS INC | 0.004817 | ✓ |
| MERCK & CO | 0.004771 | ✓ |
| MORGAN STANLEY | 0.004691 | ✓ |
| COCA-COLA CO/THE | 0.004679 | ✓ |
| APPLIED MATERIALS INC | 0.004543 | ✓ |
| RTX CORP | 0.004512 | ✓ |
| KLA CORP | 0.004511 | ✓ |
| WELLS FARGO & CO | 0.004255 | ✓ |
| GE VERNOVA LLC | 0.004178 | ✓ |
| ORACLE CORP | 0.004064 | ✓ |
| GOLDMAN SACHS GROUP INC | 0.004020 | ✓ |
| LINDE PLC | 0.003918 | ✓ |
| Vanguard Market Liquidity Fund | 0.003824 |  |
| PROGRESSIVE CORP OHIO | 0.003722 | ✓ |
| UNITEDHEALTH GRP | 0.003718 | ✓ |
| PHILIP MORRIS INTL INC | 0.003493 | ✓ |
| NEXTERA ENERGY INC | 0.003442 | ✓ |
| THERMO FISHER SCIENTIFIC INC | 0.003396 | ✓ |
| PEPSICO INC | 0.003343 | ✓ |
| MCDONALDS CORP | 0.003322 | ✓ |

## Invesco MSCI USA ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| NVIDIA CORP | 0.070835 | ✓ |
| APPLE INC | 0.064490 | ✓ |
| MICROSOFT CORP | 0.045614 | ✓ |
| AMAZON.COM INC | 0.033156 | ✓ |
| ALPHABET INC CL A | 0.029833 | ✓ |
| ALPHABET INC CL C | 0.025040 | ✓ |
| BROADCOM INC | 0.023581 | ✓ |
| META PLATFORMS INC CL A | 0.023134 | ✓ |
| TESLA INC | 0.018714 | ✓ |
| LILLY ELI and CO | 0.013918 | ✓ |
| JPMORGAN CHASE and CO | 0.013584 | ✓ |
| BERKSHIRE HATH-B | 0.011452 | ✓ |
| Invesco Private Prime Fund | 0.011152 |  |
| EXXON MOBIL CORP | 0.010688 | ✓ |
| JOHNSON&JOHNSON | 0.009846 | ✓ |
| WALMART INC | 0.009233 | ✓ |
| VISA INC-CLASS A | 0.008948 | ✓ |
| MICRON TECHNOLOGY INC | 0.007605 | ✓ |
| COSTCO WHOLESALE CORP | 0.007373 | ✓ |
| MASTERCARD INC CL A | 0.007251 | ✓ |
| ABBVIE INC | 0.006746 | ✓ |
| NETFLIX INC | 0.006730 | ✓ |
| PROCTER & GAMBLE | 0.006440 | ✓ |
| HOME DEPOT INC | 0.006234 | ✓ |
| GENERAL ELECTRIC CO | 0.005975 | ✓ |
| CHEVRON CORP | 0.005926 | ✓ |
| BANK OF AMERICA CORPORATION | 0.005770 | ✓ |
| CATERPILLAR INC | 0.005726 | ✓ |
| COCA-COLA CO/THE | 0.005488 | ✓ |
| ADV MICRO DEVICE | 0.005345 | ✓ |
| CISCO SYSTEMS INC | 0.005170 | ✓ |
| PALANTIR TECHNOLOGIES INC | 0.005138 | ✓ |
| MERCK & CO | 0.005089 | ✓ |
| APPLIED MATERIALS INC | 0.004880 | ✓ |
| LAM RESEARCH CORP | 0.004854 | ✓ |
| PHILIP MORRIS INTL INC | 0.004785 | ✓ |
| Invesco Private Government Fund | 0.004499 |  |
| RTX CORP | 0.004464 | ✓ |
| UNITEDHEALTH GRP | 0.004371 | ✓ |
| WELLS FARGO & CO | 0.004294 | ✓ |
| GOLDMAN SACHS GROUP INC | 0.004238 | ✓ |
| ORACLE CORP | 0.004093 | ✓ |
| MCDONALDS CORP | 0.004001 | ✓ |
| GE VERNOVA LLC | 0.003911 | ✓ |
| LINDE PLC | 0.003911 | ✓ |
| PEPSICO INC | 0.003820 | ✓ |
| INTL BUS MACH CORP | 0.003681 | ✓ |
| VERIZON COMMUNICATIONS INC | 0.003479 | ✓ |
| AMGEN INC | 0.003441 | ✓ |
| INTEL CORP | 0.003392 | ✓ |


## Sources

- N-PORT (fund A) — accession `0000923202-26-000099` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/923202/000092320226000099/0000923202-26-000099-index.htm>
- N-PORT (fund B) — accession `0001378872-26-000866` (as of 2026-02-28)
  <https://www.sec.gov/Archives/edgar/data/1378872/000137887226000866/0001378872-26-000866-index.htm>

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