diff --git a/app/models/simplefin_account/investments/holdings_processor.rb b/app/models/simplefin_account/investments/holdings_processor.rb
index 856b2c69d..3274b4b9d 100644
--- a/app/models/simplefin_account/investments/holdings_processor.rb
+++ b/app/models/simplefin_account/investments/holdings_processor.rb
@@ -42,9 +42,12 @@ class SimplefinAccount::Investments::HoldingsProcessor
         end
 
         # Parse provider data with robust fallbacks across SimpleFin sources
+        # NOTE: "value" is intentionally excluded from the market_value fallback chain
+        # because some brokerages (e.g. Vanguard, Fidelity) use "value" to mean cost basis,
+        # which would cause the system to display average cost as current price. (GH #1182)
         qty = parse_decimal(any_of(simplefin_holding, %w[shares quantity qty units]))
-        market_value = parse_decimal(any_of(simplefin_holding, %w[market_value value current_value]))
-        cost_basis = parse_decimal(any_of(simplefin_holding, %w[cost_basis basis total_cost]))
+        market_value = parse_decimal(any_of(simplefin_holding, %w[market_value current_value]))
+        cost_basis = parse_decimal(any_of(simplefin_holding, %w[cost_basis basis total_cost value]))
 
         # Derive price from market_value when possible; otherwise fall back to any price field
         fallback_price = parse_decimal(any_of(simplefin_holding, %w[purchase_price price unit_price average_cost avg_cost]))
diff --git a/test/jobs/simplefin_holdings_apply_job_test.rb b/test/jobs/simplefin_holdings_apply_job_test.rb
index 55a4e644e..7cc7b4c6c 100644
--- a/test/jobs/simplefin_holdings_apply_job_test.rb
+++ b/test/jobs/simplefin_holdings_apply_job_test.rb
@@ -61,4 +61,70 @@ class SimplefinHoldingsApplyJobTest < ActiveSupport::TestCase
     newco_sec = Security.find_by(ticker: "NEWCO")
     refute_nil newco_sec, "should create NEWCO security via resolver when missing"
   end
+
+  test "uses market_value for price and does not confuse value with market_value" do
+    # Regression test for GH #1182: some brokerages (Vanguard, Fidelity) include a
+    # "value" field that represents cost basis, not market value. The processor must
+    # use "market_value" for price derivation and treat "value" as a cost_basis fallback.
+    @account.holdings.delete_all
+
+    @sfa.update!(
+      raw_holdings_payload: [
+        {
+          "id" => "h_vanguard",
+          "symbol" => "VFIAX",
+          "shares" => 50,
+          "market_value" => 22626.42,
+          "cost_basis" => 22004.40,
+          "value" => 22004.40,
+          "currency" => "USD"
+        }
+      ]
+    )
+
+    assert_difference "Holding.where(account: @account).count", 1 do
+      SimplefinHoldingsApplyJob.perform_now(@sfa.id)
+    end
+
+    holding = @account.holdings.find_by(external_id: "simplefin_h_vanguard")
+    refute_nil holding
+
+    # Price should be derived from market_value / shares, NOT from value / shares
+    expected_price = BigDecimal("22626.42") / BigDecimal("50")
+    assert_in_delta expected_price.to_f, holding.price.to_f, 0.01,
+      "price should be market_value/qty (#{expected_price}), not value/qty"
+
+    # Amount should reflect market_value, not cost basis
+    assert_in_delta 22626.42, holding.amount.to_f, 0.01
+  end
+
+  test "falls back to value for cost_basis when cost_basis field is absent" do
+    @account.holdings.delete_all
+
+    @sfa.update!(
+      raw_holdings_payload: [
+        {
+          "id" => "h_fallback",
+          "symbol" => "FXAIX",
+          "shares" => 100,
+          "market_value" => 50000,
+          "value" => 45000,
+          "currency" => "USD"
+        }
+      ]
+    )
+
+    assert_difference "Holding.where(account: @account).count", 1 do
+      SimplefinHoldingsApplyJob.perform_now(@sfa.id)
+    end
+
+    holding = @account.holdings.find_by(external_id: "simplefin_h_fallback")
+    refute_nil holding
+
+    # Price derived from market_value
+    assert_in_delta 500.0, holding.price.to_f, 0.01
+
+    # cost_basis should fall back to "value" field (45000)
+    assert_in_delta 45000.0, holding.cost_basis.to_f, 0.01
+  end
 end