Investment objective & strategy
As of March 27, 2026 · prospectusObjective. Vanguard Wellington Fund (the Fund) seeks to provide long-term capital appreciation and moderate current income.
Strategy. The Fund employs an active management approach, typically investing 60%-70% of its assets in dividend-paying and, to a lesser extent, non-dividend-paying common stocks of established large companies. In choosing these stocks, the Funds advisor seeks to invest in stocks of durable businesses that appear to be undervalued but have prospects for improvement. These stocks are commonly referred to as value stocks. The Fund typically invests the remaining 30% to 40% of its assets mainly in fixed income securities that the advisor believes will generate a moderate level of current income. These securities include investment-grade corporate bonds, with some exposure to U.S. Treasury bonds, government agency bonds, and mortgage-backed securities. The Fund employs an active management approach, typically investing 60%-70% of its assets in dividend-paying and, to a lesser extent, non-dividend-paying common stocks of established large companies. In choosing these stocks, the Funds advisor seeks to invest in stocks of durable businesses that appear to be undervalued but have prospects for improvement. These stocks are commonly referred to as value stocks. The Fund typically invests the remaining 30% to 40% of its assets mainly in fixed income securities that the advisor believes will generate a moderate level of current income. These securities include investment-grade corporate bonds, with some exposure to U.S. Treasury bonds, government agency bonds, and mortgage-backed securities.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $6.47B | 5.40% |
| ALPHABET INC CL A | — | $5.02B | 4.19% |
| APPLE INC | — | $4.85B | 4.05% |
| MICROSOFT CORP | — | $4.70B | 3.92% |
| AMAZON.COM INC | — | $3.40B | 2.84% |
| WELLS FARGO & CO | — | $2.01B | 1.68% |
| BROADCOM INC | — | $1.96B | 1.64% |
| META PLATFORMS INC CL A | — | $1.91B | 1.59% |
| LILLY ELI and CO | — | $1.48B | 1.24% |
| MERCK & CO | — | $1.41B | 1.17% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| BALANCED PORTFOLIO | 86% | 0.20% |
| JNL/WMC Balanced Fund | 65% | 0.41% |
| Large Cap Core Stock Portfolio | 43% | 0.43% |
Advisers
| Firm | Role |
|---|---|
| Wellington Management Company LLP | Adviser |
Footnotes
- Expense ratio as of March 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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