PRIMECAP team

Vanguard PRIMECAP·growth·Retail & diversified funds

VPMCX

~13% (40y) since 1984

Portfolio value

$94.6B

Positions

169

Top 5 concentration

35%

New buys this quarter

Track record vs S&P 500

$VPMCX · total return since 2003

$10k grew to

$162k

CAGR

12.9%

vs S&P 500

+2.1%/yr

See the full comparison chart

Quarterly activity

What PRIMECAP team bought and sold each quarter.

Jun 2026vs Mar 2026

Bought (25)

$AZN.LNew buy2.4%$SIE.DENew buy1.9%$BABANew buy1.1%$GSKNew buy1%$SONYNew buy0.8%$NVSNew buy0.7%$ONCNew buy0.7%$IFX.DENew buy0.5%$AIR.DENew buy0.4%$ERICNew buy0.4%$FDXFNew buy0.4%$GLEN.LNew buy0.3%$ROP.SWNew buy0.3%$UMG.ASNew buy0.2%$VIKNew buy0.1%$FLUTNew buy0.1%$RYAAYNew buy0%$SAPNew buy0%$HONANew buy0%$SHL.DENew buy0%$MCKNew buy0%$SDZ.SWNew buy0%$7974.TNew buy0%$KLACAdded+724.2%$BSXAdded+46.4%

Sold (18)

$DDTrimmed-75.5%$QCOMTrimmed-75.3%$HONTrimmed-50%$DOWTrimmed-48.4%$TERTrimmed-22.5%$AMGNTrimmed-21.3%$WDCTrimmed-14.7%$WFCTrimmed-13.6%$UNHTrimmed-12.7%$TXNTrimmed-12%$MUTrimmed-11.8%$METATrimmed-9.7%$GOOGTrimmed-9.3%$AMATTrimmed-8.3%$NTRSTrimmed-8.2%$FCXTrimmed-6.7%$PMTrimmed-5.9%$UNPTrimmed-5.2%

Mar 2026vs Dec 2025

Bought (20)

$BANew buy0.2%$WMNew buy0.1%$LHXNew buy0.1%$XELNew buy0%$ILMNNew buy0%$ADBEAdded+21.1%$PYPLAdded+21.1%$NFLXAdded+14.8%$SNPSAdded+10.5%$HPQAdded+25.4%$CARRAdded+31.1%$MAAdded+7.2%$FICOAdded+23.3%$MRSHAdded+27.4%$SPOTAdded+28.1%$AMDAdded+23.4%$OKTAAdded+5.6%$NKEAdded+6.4%$DKSAdded+10%$ITAdded+6.4%

Sold (16)

$QCOMTrimmed-66.2%$TERTrimmed-57%$RIGN.SWTrimmed-35.9%$CSXTrimmed-27.4%$UBERTrimmed-27.2%$WDCTrimmed-25.5%$FCXTrimmed-25%$XOMTrimmed-22.6%$HPETrimmed-16.1%$KLACTrimmed-14.8%$UNPTrimmed-13%$MUTrimmed-12.9%$ALBTrimmed-7.1%$WFCTrimmed-6.6%$GLWTrimmed-6.6%$NWLTrimmed-6.4%

Dec 2025vs Sep 2025

Bought (22)

$BNYNew buy0.3%$QNew buy0.1%$SOLSNew buy0%$AMZNAdded+15.4%$SCHWAdded+12.2%$BMYAdded+18.5%$COPAdded+8.4%$SNPSAdded+698.1%$LINAdded+56.3%$PYPLAdded+28.1%$BAHAdded+108.2%$IEXAdded+541.2%$FICOAdded+42.9%$NFLXAdded+1885.4%$JBLAdded+11.8%$AMDAdded+133.1%$BURLAdded+44%$SPOTAdded+27.5%$NKEAdded+26.6%$WSCAdded+217.8%$HONAdded+13.7%$ITAdded+18.1%

Sold (25)

$TERTrimmed-96.5%$FCXTrimmed-95.1%$WATTrimmed-87.2%$MRSHTrimmed-70.6%$CVXTrimmed-65.6%$TXTTrimmed-64.2%$CRMTrimmed-58.7%$RIGN.SWTrimmed-57.3%$EOGTrimmed-47.8%$WFCTrimmed-45.9%$ROKTrimmed-43.1%$TDGTrimmed-38.6%$NWLTrimmed-35.1%$CATTrimmed-31.6%$AMATTrimmed-30.7%$NTRSTrimmed-27.9%$WMTTrimmed-25.9%$WDCTrimmed-23%$METATrimmed-21.8%$MUTrimmed-20.4%$JBHTTrimmed-20.3%$KLACTrimmed-20.1%$UBERTrimmed-20.1%$ORCLTrimmed-18.9%$MSFTTrimmed-16.9%

Sep 2025vs Jun 2025

Bought (20)

$CVXNew buy0.9%$FICONew buy0.2%$HONNew buy0.1%$IEXNew buy0.1%$AMZNAdded+61.6%$SCHWAdded+12.9%$COPAdded+47%$DHRAdded+10.3%$PYPLAdded+5.8%$DLTRAdded+13.7%$BAHAdded+38.1%$CARRAdded+26.2%$AMDAdded+110.1%$BURLAdded+8.1%$SNPSAdded+10.8%$DKSAdded+41.7%$WSCAdded+32.8%$ITAdded+237%$TSNAdded+11.3%$WMTAdded+9.1%

Sold (25)

$HESSold out$XOMTrimmed-97.8%$UNHTrimmed-49.8%$GOOGTrimmed-42.6%$QCOMTrimmed-39%$NKETrimmed-37.8%$ORCLTrimmed-34%$JPMTrimmed-26.9%$TXTTrimmed-24.9%$TERTrimmed-24.5%$KLACTrimmed-22.8%$SPOTTrimmed-19.1%$AAPLTrimmed-18.5%$NTAPTrimmed-18.1%$GDTrimmed-18.1%$ROG.SWTrimmed-17.9%$WFCTrimmed-16.9%$INTUTrimmed-16.1%$UBERTrimmed-15%$IQVTrimmed-14.5%$DETrimmed-13.5%$DALTrimmed-13.1%$HPETrimmed-12.9%$ZBHTrimmed-12.1%$CRMTrimmed-12.1%

Jun 2025vs Mar 2025

Bought (25)

$LINNew buy0.3%$PMNew buy0.2%$GENew buy0.1%$AMDNew buy0%$DKSNew buy0%$KONew buy0%$GOOGLAdded+6%$ORCLAdded+6.2%$SCHWAdded+43.2%$JPMAdded+7.4%$AMZNAdded+20%$VAdded+14.7%$HESAdded+9%$RJFAdded+5.7%$TDGAdded+21.8%$METAAdded+20.7%$COPAdded+81.1%$NTRSAdded+44.8%$ELANAdded+7.7%$PYPLAdded+11%$CMEAdded+28.4%$USFDAdded+67.5%$NSCAdded+67.1%$MAAdded+25.4%$OTISAdded+34.2%

Sold (25)

$GSKSold out$NVSSold out$SIE.DESold out$AZNSold out$BABASold out$ONCSold out$SONYSold out$FTNTTrimmed-89.9%$BACTrimmed-75.9%$WATTrimmed-69.1%$ITTrimmed-67.7%$BBWITrimmed-57.7%$GLWTrimmed-45.7%$LYFTTrimmed-43%$RIGN.SWTrimmed-42.7%$CHTRTrimmed-36.5%$NVTTrimmed-30.2%$MRSHTrimmed-27.7%$AMATTrimmed-27.3%$UNPTrimmed-26.2%$ADBETrimmed-26.1%$XOMTrimmed-21.8%$WFCTrimmed-19.8%$LLYTrimmed-18.8%$MDTTrimmed-18.8%

Mar 2025vs Dec 2024

Bought (22)

$MRSHNew buy0.9%$ONCNew buy0.9%$METANew buy0.4%$NKENew buy0.1%$RIGN.SWNew buy0.1%$ALC.SWNew buy0.1%$OPTUNew buy0%$SNPSNew buy0%$BAHNew buy0%$VSXYNew buy0%$WELLNew buy0%$SCHWAdded+177.1%$NSCAdded+6.2%$MRVLAdded+7.6%$SPOTAdded+18.6%$USFDAdded+462.7%$BAAdded+18%$NWLAdded+6%$JBLAdded+5.4%$DHRAdded+40.3%$WSCAdded+16.6%$WMTAdded+34.9%

Sold (24)

$BGNESold out$MMCSold out$BBWITrimmed-77%$CMCSATrimmed-42.7%$HONTrimmed-38.2%$MOTrimmed-31.9%$FISTrimmed-31.3%$RNGTrimmed-25%$UPSTrimmed-20%$WFCTrimmed-12.1%$ORCLTrimmed-11.7%$LLYTrimmed-10.9%$SYYTrimmed-10.8%$QCOMTrimmed-10%$SIE.DETrimmed-9.9%$RCLTrimmed-7.6%$ENTGTrimmed-7.6%$FCXTrimmed-7.6%$HESTrimmed-7%$RJFTrimmed-6.5%$GDTrimmed-5.7%$BABATrimmed-5.7%$SONYTrimmed-5.6%$KLACTrimmed-5.4%

Dec 2024vs Sep 2024

Bought (20)

$FBNew buy0.2%$SPOTNew buy0.1%$WMTNew buy0%$USFDNew buy0%$SONYAdded+387.6%$AMZNAdded+23.1%$GSKAdded+73%$AALAdded+9.6%$SCHWAdded+341.2%$NSCAdded+51.7%$CARRAdded+7.8%$PANWAdded+99.4%$DLTRAdded+56.3%$MRVLAdded+17.1%$TERAdded+11.7%$IFX.DEAdded+204.3%$EWAdded+25.8%$UBERAdded+64.4%$ANETAdded+300%$TSNAdded+15%

Sold (25)

$VSCOTrimmed-90%$UNHTrimmed-89.8%$SLBTrimmed-81.4%$MOTrimmed-48.7%$UTrimmed-31%$DOWTrimmed-30.6%$WFCTrimmed-20.1%$CTVATrimmed-16.2%$ALBTrimmed-13.7%$FISTrimmed-12.4%$MDTTrimmed-11.3%$INTUTrimmed-11.2%$HONTrimmed-10.4%$TSLATrimmed-9.6%$QCOMTrimmed-7.7%$NTAPTrimmed-7.5%$AMGNTrimmed-7.3%$HPETrimmed-7.1%$GOOGLTrimmed-7%$ROG.SWTrimmed-6.7%$JPMTrimmed-6%$IQVTrimmed-5.9%$GOOGTrimmed-5.3%$EOGTrimmed-5.1%$ADSKTrimmed-5.1%

Sep 2024vs Jun 2024

Bought (16)

$TSNNew buy0%$SYYAdded+10.6%$COPAdded+30.6%$PYPLAdded+20%$METAAdded+5.8%$ADSKAdded+5.4%$NWLAdded+9.1%$AVGOAdded+900%$DLTRAdded+6.9%$RYAAYAdded+150%$UBERAdded+9%$UMG.ASAdded+116.3%$JBLAdded+27.2%$IFX.DEAdded+340.1%$UAdded+190%$NICEAdded+200%

Sold (6)

$ROG.SWTrimmed-33.1%$WFCTrimmed-13.6%$XOMTrimmed-11%$LLYTrimmed-7.9%$GSTrimmed-6.5%$CATTrimmed-6.1%

Quarter-over-quarter change in disclosed positions. Diversified book — only the larger sell-outs are shown.

Holdings

Stock	Move	% of portfolio	Quarter-end px	Now	Since quarter-end
$MU Micron Technology Inc	Trimmed	13.7%	$1154.29	$1016.59	-11.9%
$INTC Intel Corp	Held	6.9%	$139.63	$95.80	-31.4%
$LLY Eli Lilly & Co	Held	6.9%	$1199.43	$1148.20	-4.3%
$KLAC KLA Corp	Added	3.9%	$301.71	$185.60	-38.5%
$GOOGL Alphabet Inc	Held	3.6%	$357.37	$338.46	-5.3%
$AZN.L AstraZeneca PLC	New buy	2.4%	$189.62	$12006.00	+6231.6%
$NVDA NVIDIA Corp	Held	2.4%	$200.09	$230.36	+15.1%
$AMZN Amazon.com Inc	Held	2.1%	$238.34	$258.51	+8.5%
$TSLA Tesla Inc	Held	1.9%	$420.60	$354.08	-15.8%
$BIIB Biogen Inc	Held	1.9%	$216.06	$220.83	+2.2%
$SIE.DE Siemens AG	New buy	1.9%	$321.51	$272.65	-15.2%
$TXN Texas Instruments Inc	Trimmed	1.9%	$298.07	$258.44	-13.3%
$FDX FedEx Corp	Held	1.7%	$313.13	$322.52	+3%
$MSFT Microsoft Corp	Held	1.7%	$373.02	$499.70	+34%
$AMGN Amgen Inc	Trimmed	1.7%	$362.12	$437.23	+20.7%
$SCHW Charles Schwab Corp/The	Held	1.5%	$92.27	$109.29	+18.4%
$ROST Ross Stores Inc	Held	1.5%	$212.85	$230.69	+8.4%
$LUV Southwest Airlines Co	Added	1.4%	$51.42	$39.62	-22.9%
$BSX Boston Scientific Corp	Added	1.4%	$42.68	$47.80	+12%
$UAL United Airlines Holdings Inc	Held	1.3%	$135.99	$111.38	-18.1%
$BABA Alibaba Group Holding Ltd	New buy	1.1%	$95.98	$113.24	+18%
$GSK GSK PLC	New buy	1%	$52.42	$49.89	-4.8%
$V Visa Inc	Added	1%	$343.09	$375.07	+9.3%
$ADI Analog Devices Inc	Held	0.9%	$397.17	$362.25	-8.8%
$TJX TJX Cos Inc/The	Held	0.9%	$151.50	$132.08	-12.8%
$DAL Delta Air Lines Inc	Held	0.9%	$93.66	$80.17	-14.4%
$GOOG Alphabet Inc	Trimmed	0.9%	$353.33	$335.31	-5.1%
$BMY Bristol-Myers Squibb Co	Held	0.9%	$57.62	$66.82	+16%
$NTAP NetApp Inc	Held	0.9%	$154.76	$185.59	+19.9%
$CAT Caterpillar Inc	Held	0.8%	$1064.90	$813.94	-23.6%
$JPM JPMorgan Chase & Co	Held	0.8%	$327.33	$358.64	+9.6%
$BIDU Baidu Inc	Held	0.8%	$114.29	$99.47	-13%
$SONY Sony Group Corp	New buy	0.8%	$20.06	$24.56	+22.4%
$COP ConocoPhillips	Held	0.7%	$103.96	$134.26	+29.1%
$ADBE Adobe Inc	Added	0.7%	$205.02	$266.51	+30%
$ONC BeOne Medicines Ltd	New buy	0.7%	$284.97	$358.26	+25.7%
$NVS Novartis AG	New buy	0.7%	$156.72	$159.99	+2.1%
$TMO Thermo Fisher Scientific Inc	Held	0.7%	$501.36	$613.78	+22.4%
$RJF Raymond James Financial Inc	Held	0.6%	$152.03	$178.29	+17.3%
$ORCL Oracle Corp	Held	0.6%	$146.55	$158.83	+8.4%
$MRVL Marvell Technology Inc	Held	0.6%	$297.89	$223.55	-25%
$AAL American Airlines Group Inc	Added	0.6%	$18.07	$13.13	-27.3%
$DIS Walt Disney Co/The	Added	0.5%	$96.25	$105.29	+9.4%
$IFX.DE Infineon Technologies AG	New buy	0.5%	$94.20	$56.86	-39.6%
$CSCO Cisco Systems Inc	Held	0.5%	$117.46	$109.20	-7%
$ELAN Elanco Animal Health Inc	Held	0.5%	$24.61	$24.50	-0.4%
$RCL Royal Caribbean Cruises Ltd	Held	0.4%	$317.53	$265.19	-16.5%
$AAPL Apple Inc	Held	0.4%	$289.36	$319.97	+10.6%
$GLW Corning Inc	Held	0.4%	$255.43	$154.29	-39.6%
$FDXF Fedex Freight Holding Co Inc	New buy	0.4%	$151.00	$129.45	-14.3%

Showing top 50 of 169 equity positions (this fund runs a diversified book).

Track PRIMECAP team between filings

13Fs land once a quarter. We email you when a tracked manager files a Form 4, a 13D stake or a Form 144 notice of sale — days after it happens, not months.

Source: SEC N-PORT via FMP · holdings as of Jun 2026 · monthly portfolio, public with a delay. Long equity positions only. Not financial advice.