Vanguard Total Stock Market ETF (VTI) Holdings Analysis
Portfolio Allocation, Sector Weights, and Core Holdings
Updated June 2026Expert ReviewedInvestSnips Data
3,484Total Stocks Held
36.95%Technology Exposure
$660.7 BillionShare Class AUM
0.03%Annual Expense Ratio
For informational purposes only. Not investment advice. Data from public ETF filings updated regularly.
The Vanguard Total Stock Market ETF tracks the CRSP US Total Market Index and currently holds 3,484 stocks, with NVIDIA Corp. representing its largest individual exposure at 6.70% of total assets. For investors seeking immediate diversification across the entire United States equity market, this single fund delivers exposure to micro, small, mid, and large-cap stocks with a low annual expense ratio of 0.03%, translating to just $3 per year for every $10,000 invested.
While standard index platforms often gate access to the complete basket of underlying equities, we examine all holdings, highlighting a concentrated 34.61% top-ten allocation and a massive 82% overlap in market exposure shared with the S&P 500 Index. This analysis details VTI’s specific sector weights, the quarterly index reconstitution process that completed on June 22, 2026, and how its structure differs from competing total-market portfolios like the iShares Core S&P Total U.S. Stock Market ETF, which also carries a 0.03% fee, equating to $3 annually per $10,000 invested.
Key Facts
What You Need to Know
01Mutual Fund Share Class Structure
VTI is not structured as a standalone exchange-traded fund. Instead, it operates as a unique ETF share class of the broader Vanguard Total Stock Market Index Fund, which oversees $2.31 Trillion in total joint assets across all combined share classes. Vanguard patented this multi-class structure to transfer assets internally via heartbeat trades, effectively shielding both mutual fund and ETF shareholders from paying capital gains distributions for over two decades.
02Deep Micro-Cap Market Access
While mainstream index funds limit their universe to multi-billion dollar enterprises, VTI holds stocks with market capitalizations as tiny as $15 million. This enables the portfolio to span 3,484 total equity listings, capturing nearly 100% of the investable domestic economy. In contrast, the S&P 500 limits exposure strictly to the top 500 highly liquid companies, missing out entirely on these micro-cap market segments.
03Multi-Million Dollar Fee Savings
VTI did not always track its current CRSP US Total Market Index. Prior to 2013, Vanguard utilized costly proprietary benchmarks from MSCI and Dow Jones, paying massive recurring licensing fees. By strategically switching the underlying benchmark to CRSP, Vanguard eliminated substantial licensing overhead and directly passed those operational savings down to retail investors in the form of a 0.03% expense ratio, meaning investors keep $9,997 of every $10,000 invested.
04Packeting Strategy Controls Friction
To prevent predatory high-frequency traders from front-running stock transitions between market-cap buckets, VTI relies on a proprietary packeting system. During the quarterly reconstitution period, which most recently occurred from June 16 to June 22, 2026, CRSP gradually moves half-shares of transitioning equities over a five-day window. This staggered mechanism limits market-impact costs and reduces trading tracking error far better than traditional single-day reconstitution schedules.
Portfolio
Vanguard Total Stock Market ETF (VTI) Holdings Analysis — Top Holdings
Click any column to sort. Holdings and weights updated June 2026.
#
Company
Ticker
Weight %
Sector
RANK
COMPANY NAME
TICKER
WEIGHT%
SECTOR
1
NVIDIA Corp.
NVDA
6.70%
Technology
2
Apple Inc.
AAPL
6.29%
Technology
3
Microsoft Corp.
MSFT
4.60%
Technology
4
Amazon.com Inc.
AMZN
3.59%
Consumer Cyclical
5
Alphabet Inc. Class A
GOOGL
3.04%
Communication Services
6
Broadcom Inc.
AVGO
2.91%
Technology
7
Alphabet Inc. Class C
GOOG
2.39%
Communication Services
8
Meta Platforms Inc.
META
1.90%
Communication Services
9
Tesla Inc.
TSLA
1.69%
Consumer Cyclical
10
Micron Technology Inc.
MU
1.50%
Technology
Source: ETF issuer public filings. Weights approximate and subject to change.
Allocation
Sector Breakdown
Sector
Weight %
SECTOR NAME
WEIGHT%
Technology
36.95%
Financial Services
11.26%
Communication Services
9.82%
Consumer Cyclical
9.74%
Industrials
9.36%
Healthcare
8.98%
Consumer Defensive
4.27%
Energy
3.30%
Real Estate
2.29%
Utilities
2.11%
Basic Materials
1.92%
Common Questions
Frequently Asked Questions
As of May 31, 2026, the largest position inside VTI is NVIDIA Corp. representing 6.70% of total fund assets, followed closely by Apple Inc. at 6.29% and Microsoft Corp. at 4.60%. The remaining top ten holdings include Amazon.com Inc. at 3.59%, Alphabet Inc. Class A at 3.04%, Broadcom Inc. at 2.91%, Alphabet Inc. Class C at 2.39%, Meta Platforms Inc. at 1.90%, Tesla Inc. at 1.69%, and Micron Technology Inc. at 1.50%. Together, these top ten companies account for a concentrated 34.61% of the total assets under management. This massive concentration means VTI’s performance is heavily influenced by the mega-cap tech industry despite the fund holding thousands of other smaller businesses.
VTI currently holds exactly 3,484 individual stocks in its portfolio as of May 31, 2026. This extensive list spans the entire capital spectrum of the United States stock market, including large-cap, mid-cap, small-cap, and micro-cap companies. Because the fund uses a market-capitalization weighting model, the largest companies still make up the majority of the fund’s overall value. However, having 3,484 stocks ensures that investors gain exposure to early-stage growth enterprises that are completely absent from larger indexes like the S&P 500.
The core difference is that VOO holds approximately 500 large-cap US stocks while VTI holds 3,484 stocks across all market capitalizations. Because VTI is market-cap weighted, large-caps still dominate the fund, creating an estimated 82% overlap in actual dollar exposure between the two portfolios. While VOO completely excludes smaller firms, VTI provides additional exposure to small-cap and micro-cap equities down to a $15 million market valuation. This slight variation can lead to performance differences during periods of small-cap market leadership.
Yes, VTI holds small-cap and micro-cap stocks, covering companies with market valuations starting as low as $15 million. While large-cap companies like NVIDIA and Apple dominate the overall fund weight, roughly 10% to 15% of the total index is allocated to mid-cap, small-cap, and micro-cap equities. This represents over 2,900 smaller corporations that are completely absent from S&P 500 tracker funds like VOO. Consequently, VTI provides a broader representation of the aggregate domestic economy than typical large-cap portfolios.
VTI is heavily weighted toward the Technology sector, which commands 36.95% of the entire portfolio. Financial Services represents the second-largest sector exposure at 11.26%, while Communication Services makes up 9.82%, and Consumer Cyclical stands at 9.74%. This significant technology and communication concentration means that the portfolio is heavily influenced by software, hardware, and digital consumer trends. However, it remains more diversified than tech-specific ETFs such as QQQ, which charges a higher 0.20% expense ratio, equating to $20 annually per $10,000 portfolio.
VTI updates its daily portfolio metrics to reflect market movements, while the underlying CRSP US Total Market Index undergoes a formal rebalancing on a quarterly basis. The most recent quarterly index reconstitution took place over a five-day transitional phase from June 16, 2026, through June 22, 2026. This staggered transition period is designed to prevent market participants from front-running trading activity. As a result, Vanguard keeps overall portfolio transaction costs remarkably low for index shareholders.
Yes, VTI pays a quarterly dividend to its shareholders, which is compiled from the underlying distributions paid by the 3,484 companies held within the portfolio. This dividend yield fluctuates over time based on the cash payout policies of corporate giants like Apple, Microsoft, and NVIDIA, alongside thousands of smaller dividend-paying components. Vanguard processes and distributes these dividend payments four times per year, typically in March, June, September, and December. Shareholders can choose to receive these payouts in cash or automatically reinvest them to purchase more fractional shares of the ETF.
Determining whether VTI is better than VOO for long-term investing depends entirely on an investor’s preference for broader market capitalization coverage. VTI owns 3,484 stocks including micro-caps, whereas VOO owns only about 500 of the largest domestic enterprises. Because both portfolios charge incredibly low expense ratios of 0.03%, or $3 per year on $10,000, and share an 82% holding overlap, their long-term performance tends to track very closely. VTI offers a slight structural advantage if small-caps outperform, while VOO may edge ahead during periods where mega-caps dominate market returns.
