FundWatcher
VMNFX
VANGUARD MARKET NEUTRAL FUND
VANGUARD MONTGOMERY FUNDS

Allocation breakdown

As of March 31, 2026 · N-PORT

By asset class

By country

By sector

By industry (SIC code)

As of March 31, 2026 · N-PORT

How we map holdings to the sectors above: each holding's issuer carries a U.S. SIC industry code in its EDGAR filer record, and each SIC code rolls up to a sector. Expand a sector to see its industries, and click a SIC code to list this fund's positions in that industry. Bonds and foreign or private issuers with no SEC filer record fall into Unclassified.

Fire, Marine & Casualty Insurance 3.51%
State Commercial Banks 3.17%
National Commercial Banks 1.92%
Surety Insurance 1.84%
Security Brokers, Dealers & Flotation Companies 1.79%
Personal Credit Institutions 1.71%
Commercial Banks, NEC 0.71%
Investment Advice 0.70%
Life Insurance 0.67%
Savings Institution, Federally Chartered 0.51%
Accident & Health Insurance 0.42%
Patent Owners & Lessors 0.18%
Security & Commodity Brokers, Dealers, Exchanges & Services 0.10%
Mortgage Bankers & Loan Correspondents 0.09%
Finance Services 0.04%
Water, Sewer, Pipeline, Comm & Power Line Construction 1.53%
Air Transportation, Scheduled 1.40%
Water Transportation 0.94%
Household Furniture 0.89%
Special Industry Machinery, NEC 0.85%
General Bldg Contractors - Nonresidential Bldgs 0.71%
Oil & Gas Field Machinery & Equipment 0.70%
Services-Educational Services 0.70%
Services-Engineering Services 0.67%
Services-Commercial Physical & Biological Research 0.67%
Metal Doors, Sash, Frames, Moldings & Trim 0.65%
Transportation Services 0.61%
Engines & Turbines 0.57%
Mobile Homes 0.52%
Electrical Work 0.47%
Operative Builders 0.44%
Fabricated Structural Metal Products 0.32%
Office Furniture 0.31%
Railroad Equipment 0.22%
Air Transportation, Nonscheduled 0.22%
Services-Facilities Support Management Services 0.16%
Deep Sea Foreign Transportation of Freight 0.14%
Services-Management Consulting Services 0.14%
Aircraft Parts & Auxiliary Equipment, NEC 0.13%
Wholesale-Drugs, Proprietaries & Druggists' Sundries 0.13%
Machine Tools, Metal Cutting Types 0.12%
Construction Machinery & Equip 0.11%
Heavy Construction Other Than Bldg Const - Contractors 0.09%
Wholesale-Machinery, Equipment & Supplies 0.08%
Services-Prepackaged Software 4.20%
Semiconductors & Related Devices 2.04%
Services-Computer Processing & Data Preparation 1.74%
Telephone & Telegraph Apparatus 1.30%
Electronic Components, NEC 1.02%
Computer Communications Equipment 0.70%
Motors & Generators 0.68%
Optical Instruments & Lenses 0.43%
Services-Computer Programming, Data Processing, Etc. 0.42%
Electronic & Other Electrical Equipment (No Computer Equip) 0.37%
Household Audio & Video Equipment 0.35%
Electronic Computers 0.23%
Computer Storage Devices 0.20%
Services-Computer Integrated Systems Design 0.20%
Laboratory Analytical Instruments 0.09%
Pharmaceutical Preparations 5.18%
Biological Products, (No Diagnostic Substances) 1.54%
Services-General Medical & Surgical Hospitals, NEC 1.21%
Surgical & Medical Instruments & Apparatus 0.57%
Services-Offices & Clinics of Doctors of Medicine 0.49%
Orthopedic, Prosthetic & Surgical Appliances & Supplies 0.44%
Ophthalmic Goods 0.43%
In Vitro & In Vivo Diagnostic Substances 0.42%
Services-Hospitals 0.29%
Services-Medical Laboratories 0.25%
Services-Nursing & Personal Care Facilities 0.24%
Services-Health Services 0.09%
Hotels & Motels 2.49%
Services-Business Services, NEC 1.36%
Retail-Family Clothing Stores 0.72%
Retail-Catalog & Mail-Order Houses 0.68%
Retail-Variety Stores 0.64%
Retail-Eating Places 0.62%
Carpets & Rugs 0.40%
Retail-Retail Stores, NEC 0.39%
Search, Detection, Navigation, Guidance, Aeronautical Sys 0.35%
Apparel & Other Finishd Prods of Fabrics & Similar Matl 0.33%
Services-Detective, Guard & Armored Car Services 0.33%
Retail-Jewelry Stores 0.23%
Services-To Dwellings & Other Buildings 0.23%
Men's & Boys' Furnishgs, Work Clothg, & Allied Garments 0.22%
Services-Equipment Rental & Leasing, NEC 0.22%
Retail-Department Stores 0.20%
Truck & Bus Bodies 0.16%
Motor Vehicles & Passenger Car Bodies 0.10%
Services-Consumer Credit Reporting, Collection Agencies 0.07%
Real Estate Investment Trusts 6.47%
Real Estate 0.90%
Real Estate Agents & Managers (For Others) 0.35%
Opeators of Nonresidential Buildings 0.34%
Primary Production of Aluminum 1.08%
Secondary Smelting & Refining of Nonferrous Metals 0.75%
Leather & Leather Products 0.56%
Rolling Drawing & Extruding of Nonferrous Metals 0.55%
Metal Mining 0.51%
Steel Pipe & Tubes 0.48%
Plastic Materials, Synth Resins & Nonvulcan Elastomers 0.44%
Mining & Quarrying of Nonmetallic Minerals (No Fuels) 0.43%
Industrial Organic Chemicals 0.35%
Chemicals & Allied Products 0.32%
Gold and Silver Ores 0.28%
Industrial Inorganic Chemicals 0.26%
Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) 0.20%
Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) 0.19%
Paperboard Mills 0.15%
Glass Containers 0.10%
Electric Services 1.79%
Natural Gas Distribution 1.28%
Electric & Other Services Combined 0.70%
Water Supply 0.43%
Gas & Other Services Combined 0.11%
Cable & Other Pay Television Services 0.73%
Newspapers: Publishing or Publishing & Printing 0.40%
Telephone Communications (No Radiotelephone) 0.37%
Television Broadcasting Stations 0.35%
Communications Services, NEC 0.32%
Radio Broadcasting Stations 0.16%
Services-Motion Picture & Video Tape Production 0.16%
Blankbooks, Looseleaf Binders & Bookbindg & Relatd Work 0.07%
Oil & Gas Field Services, NEC 0.93%
Drilling Oil & Gas Wells 0.70%
Bituminous Coal & Lignite Surface Mining 0.49%
Petroleum Refining 0.22%
Silver Ores 0.10%
Crude Petroleum & Natural Gas 0.09%
Bottled & Canned Soft Drinks & Carbonated Waters 0.70%
Canned, Fruits, Veg, Preserves, Jams & Jellies 0.23%
Tobacco Products 0.22%
Cigarettes 0.14%
Malt Beverages 0.13%
Poultry Slaughtering and Processing 0.09%
— Unclassified 7.70%

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