Vanguard® Advice Select Dividend Growth Fund
Schedule of Investments (unaudited)
As of January 31, 2024
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
Shares | Market Value ($000) | |||||
Common Stocks (98.1%) | ||||||
Consumer Discretionary (11.9%) | ||||||
TJX Cos. Inc. | 341,299 | 32,393 | ||||
McDonald's Corp. | 86,988 | 25,463 | ||||
NIKE Inc. Class B | 180,739 | 18,350 | ||||
76,206 | ||||||
Consumer Staples (13.3%) | ||||||
Procter & Gamble Co. | 164,681 | 25,878 | ||||
PepsiCo Inc. | 152,346 | 25,675 | ||||
Colgate-Palmolive Co. | 273,988 | 23,070 | ||||
Coca-Cola Co. | 183,454 | 10,913 | ||||
85,536 | ||||||
Financials (17.9%) | ||||||
Visa Inc. Class A | 114,239 | 31,217 | ||||
American Express Co. | 150,591 | 30,230 | ||||
Chubb Ltd. | 111,557 | 27,332 | ||||
Marsh & McLennan Cos. Inc. | 132,235 | 25,632 | ||||
114,411 | ||||||
Health Care (20.0%) | ||||||
Danaher Corp. | 134,589 | 32,289 | ||||
UnitedHealth Group Inc. | 61,684 | 31,566 | ||||
Stryker Corp. | 78,677 | 26,395 | ||||
Johnson & Johnson | 136,866 | 21,748 | ||||
Medtronic plc | 181,892 | 15,923 | ||||
127,921 | ||||||
Industrials (12.7%) | ||||||
Northrop Grumman Corp. | 69,949 | 31,250 | ||||
Honeywell International Inc. | 131,874 | 26,673 | ||||
Union Pacific Corp. | 52,630 | 12,838 | ||||
Lockheed Martin Corp. | 24,037 | 10,322 | ||||
81,083 | ||||||
Information Technology (13.6%) | ||||||
Microsoft Corp. | 84,378 | 33,547 | ||||
Accenture plc Class A | 75,492 | 27,470 | ||||
Texas Instruments Inc. | 162,360 | 25,997 | ||||
87,014 | ||||||
Materials (4.1%) | ||||||
Linde plc | 65,701 | 26,598 |
Shares | Market Value ($000) | |||||
Real Estate (4.6%) | ||||||
American Tower Corp. | 149,570 | 29,263 | ||||
Total Common Stocks (Cost $567,042) | 628,032 | |||||
Coupon | ||||||
Temporary Cash Investments (2.2%) | ||||||
Money Market Fund (2.2%) | ||||||
1 | Vanguard Market Liquidity Fund (Cost $14,126) | 5.410% | 141,295 | 14,128 | ||
Total Investments (100.3%) (Cost $581,168) | 642,160 | |||||
Other Assets and Liabilities—Net (-0.3%) | (2,177) | |||||
Net Assets (100%) | 639,983 |
Cost is in $000. |
1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
B. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.
At January 31, 2024, 100% of the market value of the fund's investments was determined based on Level 1 inputs.