Exchange Traded Concepts, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 14, 2026), Exchange Traded Concepts, LLC reported 1,583 stock positions worth $12.0 billion. Its top holding was Ste STR SPDR PT S&P 500 ETF (SPYM) at 3.6% of the portfolio, followed by Nvidia (NVDA, 2.8%) and Microsoft (MSFT, 2.5%). Compared with Q3 2025, it opened 205 new positions, sold out of 49, added to 732 and reduced 624. The biggest buy was Roundhill Magnificent Seven (MAGS, shares +99%) and the biggest sale an exit from SS SPDR P S&P 400 Midcap ETF (SPMD).
- Most Recent 13F
- Q2 2026
- Location
- Oklahoma City, OK
- CIK
- 0001457320
- Portfolio Value
- $12.0B (Q4 2025)
- SEC Filing
- 0001213900-26-004218 ↗ filed Jan 14, 2026
Holdings Value
Holdings 1,583 stocks · $12.0B
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.64% | 5,443,284 | $436.7M | Add +9.9% |
| NVDA Nvidia Corp. | 2.84% | 1,825,278 | $340.4M | Add +43.0% |
| MSFT Microsoft Corp. | 2.53% | 627,662 | $303.5M | Add +44.1% |
| META Meta Platforms Inc. Class A | 2.50% | 455,018 | $300.4M | Add +41.6% |
| MAGS Roundhill Magnificent Seven | 2.35% | 4,267,718 | $281.5M | Add +98.7% |
| TSLA Tesla Inc. | 2.31% | 616,269 | $277.1M | Add +53.8% |
| AAPL Apple Inc. | 2.24% | 986,913 | $268.3M | Add +18.2% |
| AMZN Amazon.com Inc. | 2.19% | 1,138,911 | $262.9M | Add +4.5% |
| VOO Vanguard S&P 500 ETF | 2.12% | 405,962 | $254.6M | Add +1.1% |
| GOOGL Alphabet Inc. Class A | 2.02% | 776,168 | $242.9M | Add +32.0% |
| AGG iShares Core U.S. Aggregate | 1.93% | 2,323,410 | $232.1M | Add +16.4% |
| SPAB SS SPDR P Agg Bond ETF | 1.52% | 7,081,541 | $182.3M | Add +1.6% |
| VTWO Vanguard Russell 2000 ETF | 1.01% | 1,216,124 | $121.0M | New |
| BLV Vanguard Long-Term Bond ETF | 0.96% | 1,659,604 | $115.4M | Add +58.8% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.88% | 994,160 | $106.1M | Add +10.0% |
| SCHR Schwab Intermediate-Term US | 0.84% | 4,029,634 | $101.1M | Add +46.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.73% | 180,365 | $88.0M | Add +10.3% |
| WEEK Roundhill Weekly T-Bill ETF | 0.72% | 862,813 | $86.3M | No change |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.69% | 1,875,811 | $83.3M | Add +10.9% |
| PLTR Palantir Technologies Inc. Class A | 0.68% | 458,616 | $81.5M | Add +22.5% |
| BSV Vanguard Short-Term Bond ETF | 0.67% | 1,014,449 | $79.9M | Add +15.0% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.60% | 1,261,026 | $71.6M | Add +11.4% |
| CEG Constellation Energy | 0.56% | 190,771 | $67.4M | Add +16.2% |
| CCJ Cameco Corp. | 0.55% | 723,301 | $66.2M | Add +16.3% |
| MBB iShares MBS ETF | 0.55% | 688,174 | $65.5M | Add +16.5% |
| ISCV iShares Morningstar Small-Ca | 0.52% | 908,467 | $62.2M | Add +12.5% |
| QCOM Qualcomm Inc. | 0.51% | 360,638 | $61.7M | Reduce -6.2% |
| SCHV Schwab US Large-Cap Value | 0.50% | 2,035,286 | $60.3M | Add +11.4% |
| SCHG Schwab US Large-Cap Growth | 0.48% | 1,764,116 | $57.5M | Add +15.6% |
| OKE Oneok Inc. | 0.48% | 776,943 | $57.1M | Add +10.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.47% | 186,382 | $56.6M | Add +60.8% |
| WMB Williams Cos Inc. | 0.46% | 926,429 | $55.7M | Reduce -0.1% |
| VEA Vanguard Ftse Developed ETF | 0.46% | 888,805 | $55.5M | Add +10.9% |
| KMI Kinder Morgan Inc. | 0.46% | 2,018,969 | $55.5M | Add +3.0% |
| IEMG iShares Core MSCI Emerging | 0.46% | 821,543 | $55.2M | Add +10.9% |
| TRP TC Energy Corp. | 0.46% | 995,991 | $54.8M | Reduce -1.4% |
| QQQM Invesco Nasdaq 100 ETF | 0.46% | 216,233 | $54.7M | Add +17.9% |
| ENB Enbridge Inc. | 0.45% | 1,121,715 | $53.7M | Add +3.9% |
| MO Altria Group Inc. | 0.43% | 895,944 | $51.7M | Add +10.9% |
| LNG Cheniere Energy Inc. | 0.43% | 264,618 | $51.4M | Add +24.2% |
| ILCB iShares Morningstar U.S. Equ | 0.41% | 519,869 | $49.1M | Add +10.4% |
| PM Philip Morris International | 0.41% | 305,617 | $49.0M | Reduce -11.4% |
| COIN Coinbase Global Inc. Class A | 0.40% | 214,904 | $48.6M | Add +28.6% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.40% | 607,216 | $48.4M | Add +18.1% |
| XOM Exxon Mobil Corp. | 0.39% | 393,051 | $47.3M | Add +5.4% |
| MELI MercadoLibre Inc. | 0.37% | 21,806 | $43.9M | Add +55.9% |
| DUK Duke Energy Corp. | 0.35% | 359,829 | $42.2M | Add +4.1% |
| VONV Vanguard Russell 1000 Value | 0.34% | 442,063 | $40.8M | Add +11.4% |
| SPHY SS SPDR P High Yield ETF | 0.34% | 1,707,784 | $40.4M | Add +24.3% |
| SPBO SS SPDR P Corp. Bond ETF | 0.34% | 1,373,620 | $40.3M | Reduce -41.8% |
| CRCL Circle Internet Group Inc. | 0.33% | 506,971 | $40.2M | Add +252.5% |
| VZ Verizon Communications Inc. | 0.33% | 978,394 | $39.8M | Add +5.5% |
| PEP Pepsico Inc. | 0.33% | 274,354 | $39.4M | Reduce -4.2% |
| AVGO Broadcom Inc. | 0.32% | 111,530 | $38.6M | Reduce -1.5% |
| XLK SS Technology Select Sector | 0.32% | 263,406 | $37.9M | Add +51.1% |
| EMR Emerson Electric Co. | 0.31% | 284,090 | $37.7M | Reduce -16.9% |
| EWY iShares MSCI South Korea ETF | 0.31% | 385,237 | $37.5M | Add +36038.6% |
| T AT&T Inc. | 0.31% | 1,507,610 | $37.4M | Reduce -23.2% |
| MSTR Strategy Inc. | 0.31% | 242,170 | $36.8M | Add +104.2% |
| LMT Lockheed Martin Corp. | 0.30% | 75,206 | $36.4M | Add +68.2% |
| BOND PIMCO Active Bond Exchange-T | 0.30% | 389,552 | $36.3M | Add +5.7% |
| ICSH iShares Ultra Short Duration | 0.30% | 707,334 | $35.8M | Reduce -9.6% |
| SE Sea Ltd.-ADR | 0.30% | 278,742 | $35.6M | Add +68.2% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.29% | 2,075,844 | $34.7M | Reduce -12.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.28% | 287,293 | $33.4M | Add +4.9% |
| MRK Merck & Co. Inc. | 0.28% | 314,728 | $33.1M | Add +230.8% |
| GOOG Alphabet Inc. Class C | 0.27% | 103,600 | $32.5M | Reduce -0.4% |
| NEM Newmont Corp. | 0.27% | 324,375 | $32.4M | Add +26.7% |
| USB US Bancorp | 0.27% | 603,635 | $32.2M | Add +3.3% |
| AAAU Goldman Sachs Physical Gold | 0.26% | 747,358 | $31.8M | Add +45.8% |
| TRGP Targa Resources Corp. | 0.26% | 167,998 | $31.0M | Reduce -5.7% |
| AMD Advanced Micro Devices | 0.26% | 143,534 | $30.7M | Add +1.6% |
| ET Energy Transfer LP | 0.26% | 1,860,369 | $30.7M | Add +15.8% |
| EPD Enterprise Products Partners | 0.25% | 952,560 | $30.5M | Add +7.7% |
| ISRG Intuitive Surgical Inc. | 0.25% | 53,411 | $30.2M | Reduce -2.0% |
| ORCL Oracle Corp. | 0.25% | 155,118 | $30.2M | Add +75.1% |
| B Barrick Mining Corp. | 0.25% | 689,661 | $30.0M | Add +24.8% |
| GILD Gilead Sciences Inc. | 0.25% | 243,532 | $29.9M | Add +45.7% |
| MPLX MPLX LP | 0.25% | 558,737 | $29.8M | Add +47.3% |
| AMT American Tower Corp. | 0.24% | 166,795 | $29.3M | Add +25.7% |
| ATO Atmos Energy Corp. | 0.24% | 173,708 | $29.1M | Reduce -2.5% |
| LLY Eli Lilly & Co. | 0.24% | 27,060 | $29.1M | Add +106.5% |
| NI Nisource Inc. | 0.24% | 682,330 | $28.5M | Reduce -2.2% |
| PDD PDD Holdings Inc. | 0.23% | 242,722 | $27.5M | Add +10.1% |
| PFE Pfizer Inc. | 0.23% | 1,101,978 | $27.4M | Reduce -5.2% |
| ADSK Autodesk Inc. | 0.23% | 92,115 | $27.3M | Add +13.4% |
| VONG Vanguard Russell 1000 Growth | 0.23% | 223,600 | $27.2M | Add +10.0% |
| TER Teradyne Inc. | 0.23% | 139,802 | $27.1M | Reduce -28.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.22% | 234,272 | $26.7M | Add +106.8% |
| COST Costco Wholesale Corp. | 0.22% | 30,688 | $26.5M | Add +30.9% |
| JPST JPMorgan Ultra-Short Income | 0.22% | 519,628 | $26.3M | Add +0.9% |
| IVV iShares Core S&P 500 ETF | 0.22% | 38,342 | $26.3M | Add +61.1% |
| ILMN Illumina Inc. | 0.21% | 195,389 | $25.6M | Reduce -10.8% |
| WPM Wheaton Precious Metals Corp. | 0.21% | 216,652 | $25.5M | Add +16.5% |
| GEV GE Vernova Inc. | 0.21% | 38,400 | $25.1M | Add +10.8% |
| BDX Becton Dickinson and Co. | 0.21% | 129,286 | $25.1M | Add +56.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.21% | 274,555 | $25.1M | Reduce -0.3% |
| AMBA Ambarella Inc. | 0.21% | 353,101 | $25.0M | Add +30.1% |
| JNJ Johnson & Johnson | 0.20% | 116,600 | $24.1M | Reduce -17.9% |
| ABBV Abbvie Inc. | 0.20% | 104,415 | $23.9M | Add +150.9% |
Options reported separately and not counted above: SPY puts ($315.5M), IBIT calls ($224.9M), SPY calls ($190.8M), EETH calls ($80.9M), QQQ puts ($77.6M), QQQ calls ($75.9M), MSTR calls ($74.8M), TLT puts ($46.3M), ETHA calls ($28.0M), SNOW puts ($10.8M), MSFT puts ($6.7M), XYZ puts ($4.2M), and 2 more.
Portfolio Sells Q3 2025 → Q4 2025
| SPMD SS SPDR P S&P 400 Midcap ETF | Sold out | 0.00% | −1.03 |
| IREN Iren Ltd. | Reduce -57.9% | 0.15% | −0.35 |
| SPBO SS SPDR P Corp. Bond ETF | Reduce -41.8% | 0.34% | −0.33 |
| SCHW Schwab (charles) Corp. | Reduce -89.6% | 0.02% | −0.24 |
| BMY Bristol-Myers Squibb Co. | Reduce -81.8% | 0.05% | −0.22 |
| XLP SS Consumer Staples Sel Sect | Reduce -57.8% | 0.13% | −0.22 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -98.1% | 0.00% | −0.22 |
| T AT&T Inc. | Reduce -23.2% | 0.31% | −0.22 |
| CL Colgate-Palmolive Co. | Reduce -65.2% | 0.09% | −0.21 |
| CMCSA Comcast Corp. Class A | Reduce -54.6% | 0.12% | −0.20 |
| ILF iShares Latin America 40 ETF | Sold out | 0.00% | −0.20 |
| VNQ Vanguard Real Estate ETF | Reduce -86.1% | 0.02% | −0.18 |
| MP MP Materials Corp. | Sold out | 0.00% | −0.15 |
| NFLX Netflix Inc. | Reduce -37.4% | 0.11% | −0.15 |
| XLY SS Consumer Disc Select Sect | Reduce -100.0% | 0.00% | −0.14 |
| HOOD Robinhood Markets Inc. Class A | Reduce -35.9% | 0.11% | −0.13 |
| XLI SS Industrial Select Sector | Sold out | 0.00% | −0.13 |
| PM Philip Morris International | Reduce -11.4% | 0.41% | −0.13 |
| COP Conocophillips | Reduce -75.2% | 0.03% | −0.12 |
| BKNG Booking Holdings Inc. | Reduce -79.5% | 0.03% | −0.12 |
| DE Deere & Co. | Reduce -39.6% | 0.14% | −0.12 |
| AZTA Azenta Inc. | Sold out | 0.00% | −0.12 |
| PYPL PayPal Holdings Inc. | Reduce -56.7% | 0.06% | −0.12 |
| WFC Wells Fargo & Co. | Reduce -82.5% | 0.02% | −0.12 |
| VCLT Vanguard Long-Term Corp. Bond | Reduce -41.7% | 0.11% | −0.12 |
| EMR Emerson Electric Co. | Reduce -16.9% | 0.31% | −0.11 |
| AMGN Amgen Inc. | Reduce -64.9% | 0.06% | −0.11 |
| LOW Lowe's Cos Inc. | Reduce -75.3% | 0.03% | −0.10 |
| CLSK Cleanspark Inc. | Reduce -18.8% | 0.10% | −0.10 |
| CVX Chevron Corp. | Reduce -45.5% | 0.09% | −0.10 |
| QCOM Qualcomm Inc. | Reduce -6.2% | 0.51% | −0.10 |
| WMB Williams Cos Inc. | Reduce -0.1% | 0.46% | −0.10 |
| JEPI JPMorgan Equity Premium Inco | Sold out | 0.00% | −0.09 |
| ICSH iShares Ultra Short Duration | Reduce -9.6% | 0.30% | −0.08 |
| AM Antero Midstream Corp. | Reduce -24.6% | 0.12% | −0.08 |
| CART Maplebear Inc. | Reduce -74.3% | 0.03% | −0.08 |
| APLD Applied Digital Corp. | Reduce -32.2% | 0.13% | −0.08 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -12.1% | 0.29% | −0.07 |
| TPR Tapestry Inc. | Reduce -84.4% | 0.01% | −0.07 |
| PAVE Global X US Infrastructure | Sold out | 0.00% | −0.07 |
| TRP TC Energy Corp. | Reduce -1.4% | 0.46% | −0.07 |
| XLF SS Financial Select Sector | Reduce -35.3% | 0.09% | −0.07 |
| VWO Vanguard Ftse Emerging Marke | Reduce -90.5% | 0.01% | −0.06 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -18.7% | 0.16% | −0.06 |
| CCL Carnival Corp. | Reduce -96.0% | 0.00% | −0.06 |
| RKLB Rocket Lab Corp. | Reduce -89.9% | 0.01% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -8.2% | 0.18% | −0.06 |
| BLSH Bullish | Reduce -18.8% | 0.04% | −0.06 |
| GRAB Grab Holdings Ltd. Class A | Reduce -37.1% | 0.05% | −0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| MAGS Roundhill Magnificent Seven | Add +98.7% | 2.35% | +1.02 |
| VTWO Vanguard Russell 2000 ETF | New | 1.01% | +1.01 |
| GOOGL Alphabet Inc. Class A | Add +32.0% | 2.02% | +0.66 |
| TSLA Tesla Inc. | Add +53.8% | 2.31% | +0.61 |
| NVDA Nvidia Corp. | Add +43.0% | 2.84% | +0.56 |
| MSFT Microsoft Corp. | Add +44.1% | 2.53% | +0.38 |
| EWY iShares MSCI South Korea ETF | Add +36038.6% | 0.31% | +0.31 |
| BLV Vanguard Long-Term Bond ETF | Add +58.8% | 0.96% | +0.25 |
| META Meta Platforms Inc. Class A | Add +41.6% | 2.50% | +0.25 |
| AAPL Apple Inc. | Add +18.2% | 2.24% | +0.21 |
| MRK Merck & Co. Inc. | Add +230.8% | 0.28% | +0.20 |
| SCHR Schwab Intermediate-Term US | Add +46.6% | 0.84% | +0.18 |
| TSM Taiwan Semiconductor-SP ADR | Add +60.8% | 0.47% | +0.16 |
| ONDS Ondas Inc. | New | 0.16% | +0.16 |
| UBEW Roundhill Uber Weeklypay ETF | New | 0.16% | +0.16 |
| COSW Roundhill Cost Weeklypay ETF | New | 0.16% | +0.16 |
| UNHW Roundhill Unh Weeklypay ETF | New | 0.15% | +0.15 |
| CRCL Circle Internet Group Inc. | Add +252.5% | 0.33% | +0.15 |
| BABW Roundhill Baba Weeklypay ETF | New | 0.15% | +0.15 |
| LLY Eli Lilly & Co. | Add +106.5% | 0.24% | +0.15 |
| ARMW Roundhill Arm Weeklypay ETF | New | 0.14% | +0.14 |
| XLV SS Health Care Select Sector | Add +240.1% | 0.20% | +0.14 |
| IEF iShares 7-10 Year Treasury B | Add +266.3% | 0.19% | +0.13 |
| AXP American Express Co. | Add +197.5% | 0.19% | +0.13 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +244.2% | 0.18% | +0.12 |
| CAT Caterpillar Inc. | Add +468.8% | 0.13% | +0.11 |
| UBER Uber Technologies Inc. | Add +365.4% | 0.16% | +0.11 |
| ABBV Abbvie Inc. | Add +150.9% | 0.20% | +0.11 |
| GS Goldman Sachs Group Inc. | Add +263.4% | 0.14% | +0.10 |
| MMM 3M Co. | Add +2656.6% | 0.10% | +0.10 |
| RTX RTX Corp. | Add +368.1% | 0.13% | +0.10 |
| DIS The Walt Disney Co. | Add +106.8% | 0.22% | +0.10 |
| XLE SS Energy Select Sector | Add +192925.4% | 0.10% | +0.10 |
| MET Metlife Inc. | Add +1170.0% | 0.10% | +0.09 |
| EWT iShares MSCI Taiwan ETF | Add +13656.2% | 0.09% | +0.09 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | New | 0.09% | +0.09 |
| LMT Lockheed Martin Corp. | Add +68.2% | 0.30% | +0.09 |
| IBM Intl Business Machines Corp. | Add +112.7% | 0.18% | +0.09 |
| XLK SS Technology Select Sector | Add +51.1% | 0.32% | +0.08 |
| TOAK Twin Oak SHRT HRZ Abs RTRN | New | 0.08% | +0.08 |
| GOOW Roundhill Googl Weklypay ETF | Add +96.3% | 0.16% | +0.08 |
| AMZW Roundhill Amzn Weeklypay ETF | Add +146.7% | 0.16% | +0.08 |
| AAAU Goldman Sachs Physical Gold | Add +45.8% | 0.26% | +0.08 |
| AVGW Roundhill Avgo Weeklypay ETF | Add +157.4% | 0.16% | +0.08 |
| B Barrick Mining Corp. | Add +24.8% | 0.25% | +0.08 |
| METW Roundhill Meta Weeklypay ETF | Add +194.4% | 0.15% | +0.08 |
| INDA iShares MSCI India ETF | New | 0.07% | +0.07 |
| GILD Gilead Sciences Inc. | Add +45.7% | 0.25% | +0.07 |
| BRKW Roundhill BRKB Weeklypay ETF | Add +126.1% | 0.16% | +0.07 |
| NFLW Roundhill NFLX Weeklypay ETF | Add +230.3% | 0.15% | +0.07 |
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +1.6% | 462,600 | $315.5M |
| IBIT iShares Bitcoin Trust ETF | call | Reduce -12.9% | 4,530,100 | $224.9M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +37.6% | 279,800 | $190.8M |
| EETH Proshares Ether ETF-Usd Inc. | call | Add +37.3% | 2,174,500 | $80.9M |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -1.8% | 126,400 | $77.6M |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -3.6% | 123,600 | $75.9M |
| MSTR Strategy Inc. | call | Add +45.5% | 492,300 | $74.8M |
| TLT iShares 20+ Year Treasury BD | put | Add +4.8% | 531,400 | $46.3M |
| CART Maplebear Inc. | put | Sold out | 220,500 | $8.1Mbefore exit |
| NTRA Natera Inc. | put | Sold out | 31,300 | $5.0Mbefore exit |
| NU Nu Holdings Ltd./Cayman Isl-A | put | Sold out | 189,500 | $3.0Mbefore exit |
| UBER Uber Technologies Inc. | put | Sold out | 5,600 | $549Kbefore exit |
| PDD PDD Holdings Inc. | put | Sold out | 3,200 | $423Kbefore exit |
| EB Eventbrite Inc. Class A | put | Sold out | 81,500 | $205Kbefore exit |
| SPYM Ste STR SPDR PT S&P 500 ETF | call | Reduce -70.5% | 2,300 | $185K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 1,559 | $20.2B | SNDK, WDC, STX, MU, SPYM |
| Q1 2026 | 1,510 | $13.0B | SPYM, VOO, NVDA, XBOX, MSFT |
| Q4 2025 | 1,583 | $12.0B | SPYM, NVDA, MSFT, META, MAGS |
| Q3 2025 | 1,425 | $10.5B | SPYM, VOO, AMZN, NVDA, META |
| Q2 2025 | 1,389 | $7.8B | VOO, AAPL, GOOGL, SPYM, NVDA |
| Q1 2025 | 1,249 | $5.6B | VOO, NVDA, META, AAPL, AMZN |
| Q4 2024 | 1,389 | $4.9B | META, NVDA, AAPL, MSFT, GOOGL |
| Q3 2024 | 1,317 | $4.2B | NVDA, AAPL, QQQM, META, XLV |
| Q2 2024 | 1,207 | $3.9B | QQQM, XLE, XLV, NVDA, AAPL |
| Q1 2024 | 1,231 | $3.9B | HYMB, NVDA, AAPL, VNQ, GOOGL |