UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-07803
Name of Registrant: | Vanguard Scottsdale Funds | |
Address of Registrant: | P.O. Box 2600 | |
Valley Forge, PA 19482 |
Name and address of agent for service: | Anne E. Robinson, Esquire | |
P.O. Box 876 | ||
Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: August 31
Date of reporting period: September 1, 2022—August 31, 2023
Item 1: Reports to Shareholders
Your Fund’s Performance at a Glance | 1 |
Advisors' Report | 2 |
About Your Fund’s Expenses | 8 |
Performance Summary | 10 |
Financial Statements | 12 |
Liquidity Risk Management | 27 |
• | For the 12 months ended August 31, 2023, Vanguard Explorer Value Fund returned 7.43%, outpacing the 5.74% return of its benchmark, the Russell 2500 Value Index. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks, including the Federal Reserve, fanned fears of recession, the economy proved more resilient than expected. |
• | For the benchmark index, five industry sectors posted double-digit gains. Industrials was the standout, gaining about 24%. Five industry sectors, including financials and real estate, posted negative returns. |
• | Compared with its benchmark index, security selection in a number of sectors, including industrials, information technology, consumer staples, and consumer discretionary, added value. The fund’s holdings in communication services detracted the most from relative performance. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
Fund Assets Managed | |||
Investment Advisor | % | $ Million | Investment Strategy |
Frontier Capital Management Co., LLC | 45 | 429 | The advisor selects stocks by identifying companies it believes are underpriced relative to their long-term value. These companies are generally inexpensive and have low price-to-book and price-to-earnings ratios. |
Cardinal Capital Management, L.L.C. | 37 | 356 | The advisor seeks stocks that are able to generate excess cash flow and reinvest the cash to increase shareholder value. |
Ariel Investments, LLC | 17 | 160 | The advisor seeks to take advantage of the market’s short-term view to drive long-term results for shareholders. It favors companies with strong brands and franchises that produce or deliver high-quality products or services. |
Cash Investments | 1 | 14 | These short-term reserves are invested by Vanguard in equity index products to simulate investment in stocks. Each advisor may also maintain a modest cash position. |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Explorer Value Fund | Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period |
Based on Actual Fund Return | $1,000.00 | $1,001.50 | $2.47 |
Based on Hypothetical 5% Yearly Return | 1,000.00 | 1,022.74 | 2.50 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Explorer Value Fund | 7.43% | 4.20% | 8.08% | $21,751 | |
Russell 2500 Value Index | 5.74 | 4.81 | 8.07 | 21,734 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
Communication Services | 6.0% |
Consumer Discretionary | 13.0 |
Consumer Staples | 2.3 |
Energy | 5.9 |
Financials | 14.5 |
Health Care | 7.0 |
Industrials | 20.8 |
Information Technology | 9.8 |
Materials | 9.6 |
Real Estate | 10.0 |
Utilities | 1.1 |
Shares | Market Value• ($000) | ||
Common Stocks (95.3%) | |||
Communication Services (5.7%) | |||
Nexstar Media Group Inc. | 106,926 | 17,408 | |
* | Ziff Davis Inc. | 172,726 | 11,512 |
Interpublic Group of Cos. Inc. | 150,917 | 4,921 | |
1 | Manchester United plc Class A | 194,969 | 4,447 |
John Wiley & Sons Inc. Class A | 114,357 | 4,250 | |
* | Madison Square Garden Entertainment Corp. | 104,754 | 3,362 |
* | Sphere Entertainment Co. | 92,795 | 3,253 |
Madison Square Garden Sports Corp. | 16,358 | 2,912 | |
Paramount Global Inc. Class B | 187,272 | 2,826 | |
54,891 | |||
Consumer Discretionary (12.4%) | |||
Lithia Motors Inc. | 45,531 | 14,024 | |
* | Modine Manufacturing Co. | 204,316 | 9,723 |
* | Royal Caribbean Cruises Ltd. | 84,516 | 8,362 |
* | Adtalem Global Education Inc. | 180,950 | 7,934 |
* | OneSpaWorld Holdings Ltd. | 659,627 | 7,546 |
Kontoor Brands Inc. | 152,694 | 6,992 | |
LCI Industries | 52,637 | 6,594 | |
* | Victoria's Secret & Co. | 328,715 | 6,305 |
* | Mattel Inc. | 273,639 | 6,064 |
Cheesecake Factory Inc. | 176,724 | 5,629 | |
Boyd Gaming Corp. | 70,401 | 4,708 | |
* | Asbury Automotive Group Inc. | 18,400 | 4,232 |
Gentex Corp. | 126,453 | 4,130 | |
* | Helen of Troy Ltd. | 32,475 | 3,992 |
* | Leslie's Inc. | 570,748 | 3,573 |
Perdoceo Education Corp. | 214,508 | 3,554 | |
ADT Inc. | 549,536 | 3,528 | |
* | Mohawk Industries Inc. | 30,661 | 3,109 |
* | Stoneridge Inc. | 149,495 | 3,072 |
* | LGI Homes Inc. | 22,746 | 2,800 |
* | Under Armour Inc. Class A | 230,724 | 1,763 |
* | Lands' End Inc. | 198,403 | 1,528 |
119,162 | |||
Consumer Staples (2.2%) | |||
Spectrum Brands Holdings Inc. | 171,648 | 14,276 |
Shares | Market Value• ($000) | ||
* | US Foods Holding Corp. | 132,334 | 5,350 |
J M Smucker Co. | 7,928 | 1,149 | |
20,775 | |||
Energy (5.6%) | |||
DTE Midstream LLC | 251,290 | 13,140 | |
TechnipFMC plc | 480,320 | 9,146 | |
SM Energy Co. | 201,036 | 8,506 | |
Magnolia Oil & Gas Corp. Class A | 340,184 | 7,756 | |
Matador Resources Co. | 103,765 | 6,589 | |
* | Weatherford International plc | 54,239 | 4,801 |
Core Laboratories Inc. | 146,091 | 3,512 | |
53,450 | |||
Financials (13.8%) | |||
Starwood Property Trust Inc. | 563,408 | 11,510 | |
* | Bancorp Inc. | 274,039 | 10,060 |
BGC Group Inc. Class A | 1,718,972 | 8,492 | |
First BanCorp (XNYS) | 438,369 | 6,076 | |
* | NMI Holdings Inc. Class A | 205,016 | 5,868 |
Wintrust Financial Corp. | 73,773 | 5,725 | |
Popular Inc. | 83,232 | 5,683 | |
* | Euronet Worldwide Inc. | 60,689 | 5,302 |
Columbia Banking System Inc. | 257,336 | 5,270 | |
First Merchants Corp. | 164,512 | 4,909 | |
Washington Federal Inc. | 169,826 | 4,616 | |
Evercore Inc. Class A | 31,583 | 4,423 | |
Northern Trust Corp. | 55,890 | 4,251 | |
Carlyle Group Inc. | 128,531 | 4,158 | |
Pinnacle Financial Partners Inc. | 59,737 | 3,976 | |
Pacific Premier Bancorp Inc. | 170,769 | 3,931 | |
Flushing Financial Corp. | 277,316 | 3,916 | |
First American Financial Corp. | 61,239 | 3,777 | |
WSFS Financial Corp. | 95,494 | 3,753 | |
Renasant Corp. | 126,161 | 3,514 | |
BOK Financial Corp. | 41,768 | 3,471 | |
Lazard Ltd. Class A | 96,057 | 3,337 | |
Affiliated Managers Group Inc. | 24,093 | 3,229 | |
Webster Financial Corp. | 73,774 | 3,129 | |
PacWest Bancorp | 366,759 | 2,916 | |
PJT Partners Inc. Class A | 35,601 | 2,812 | |
BankUnited Inc. | 78,673 | 2,065 | |
Janus Henderson Group plc | 50,771 | 1,395 |
Shares | Market Value• ($000) | ||
* | Green Dot Corp. Class A | 70,640 | 1,048 |
132,612 | |||
Health Care (6.7%) | |||
* | Envista Holdings Corp. | 290,153 | 9,291 |
* | Enovis Corp. | 138,293 | 7,750 |
* | LivaNova plc | 106,014 | 5,889 |
* | Pacira BioSciences Inc. | 164,278 | 5,799 |
* | Varex Imaging Corp. | 273,559 | 5,381 |
* | Globus Medical Inc. Class A | 80,284 | 4,343 |
* | Elanco Animal Health Inc. (XNYS) | 353,293 | 4,310 |
* | QuidelOrtho Corp. | 47,728 | 3,931 |
* | Charles River Laboratories International Inc. | 18,574 | 3,841 |
Laboratory Corp. of America Holdings | 17,507 | 3,643 | |
* | Merit Medical Systems Inc. | 45,538 | 2,973 |
* | Prestige Consumer Healthcare Inc. | 49,623 | 2,895 |
* | Acadia Healthcare Co. Inc. | 27,635 | 2,131 |
* | Bio-Rad Laboratories Inc. Class A | 3,966 | 1,587 |
* | Fortrea Holdings Inc. | 17,507 | 482 |
64,246 | |||
Industrials (19.8%) | |||
* | GXO Logistics Inc. | 230,658 | 14,755 |
BWX Technologies Inc. | 195,476 | 14,418 | |
* | XPO Inc. | 184,978 | 13,805 |
* | OPENLANE Inc. | 730,619 | 11,405 |
Esab Corp. | 137,674 | 9,936 | |
* | Beacon Roofing Supply Inc. | 110,210 | 8,800 |
FTAI Aviation Ltd. | 232,897 | 8,608 | |
KBR Inc. | 138,994 | 8,551 | |
* | Array Technologies Inc. | 314,921 | 7,832 |
MDU Resources Group Inc. | 374,348 | 7,622 | |
* | Verra Mobility Corp. | 406,659 | 7,234 |
Applied Industrial Technologies Inc. | 46,680 | 7,206 | |
EnerSys | 65,748 | 6,902 | |
* | MRC Global Inc. | 689,127 | 6,423 |
* | Stericycle Inc. | 118,211 | 5,226 |
nVent Electric plc | 90,303 | 5,106 | |
Interface Inc. | 432,285 | 4,466 | |
Kennametal Inc. | 168,561 | 4,462 | |
Masco Corp. | 72,931 | 4,304 | |
* | Resideo Technologies Inc. | 237,322 | 4,001 |
Brink's Co. | 51,264 | 3,886 | |
RB Global Inc. | 62,752 | 3,873 | |
* | Generac Holdings Inc. | 31,854 | 3,785 |
* | Builders FirstSource Inc. | 24,330 | 3,529 |
WESCO International Inc. | 19,229 | 3,112 | |
Kaman Corp. | 120,927 | 2,712 | |
Timken Co. | 33,838 | 2,586 | |
Greenbrier Cos. Inc. | 48,380 | 2,059 | |
Simpson Manufacturing Co. Inc. | 12,121 | 1,936 | |
Snap-on Inc. | 6,977 | 1,874 | |
190,414 | |||
Information Technology (9.4%) | |||
* | Verint Systems Inc. | 322,186 | 10,436 |
Jabil Inc. | 88,537 | 10,130 | |
* | Insight Enterprises Inc. | 58,139 | 9,308 |
Belden Inc. | 85,356 | 8,015 | |
* | Fabrinet | 48,355 | 7,774 |
MKS Instruments Inc. | 68,018 | 6,817 | |
* | Ultra Clean Holdings Inc. | 167,476 | 5,888 |
Shares | Market Value• ($000) | ||
TD SYNNEX Corp. | 57,186 | 5,819 | |
* | Zebra Technologies Corp. Class A | 19,086 | 5,249 |
* | Teledyne Technologies Inc. | 12,424 | 5,197 |
* | ACI Worldwide Inc. | 178,960 | 4,345 |
* | Teradata Corp. | 72,075 | 3,335 |
* | Consensus Cloud Solutions Inc. | 89,817 | 2,868 |
* | Keysight Technologies Inc. | 18,124 | 2,416 |
* | MACOM Technology Solutions Holdings Inc. | 27,036 | 2,286 |
89,883 | |||
Materials (9.2%) | |||
Silgan Holdings Inc. | 544,617 | 24,579 | |
* | Axalta Coating Systems Ltd. | 511,796 | 14,484 |
Ashland Inc. | 116,565 | 10,098 | |
Eagle Materials Inc. | 50,974 | 9,650 | |
FMC Corp. | 101,464 | 8,749 | |
Carpenter Technology Corp. | 103,339 | 6,472 | |
Pactiv Evergreen Inc. | 465,384 | 3,826 | |
* | ATI Inc. | 79,138 | 3,587 |
Graphic Packaging Holding Co. | 152,844 | 3,399 | |
* | Knife River Corp. | 61,954 | 3,188 |
88,032 | |||
Real Estate (9.5%) | |||
Gaming and Leisure Properties Inc. | 336,932 | 15,970 | |
STAG Industrial Inc. | 180,473 | 6,593 | |
1 | Medical Properties Trust Inc. | 908,878 | 6,562 |
Corporate Office Properties Trust | 249,678 | 6,462 | |
Agree Realty Corp. | 103,433 | 6,394 | |
SITE Centers Corp. | 469,707 | 6,271 | |
LXP Industrial Trust | 630,524 | 6,192 | |
Independence Realty Trust Inc. | 343,950 | 5,789 | |
Spirit Realty Capital Inc. | 145,753 | 5,627 | |
DigitalBridge Group Inc. | 310,308 | 5,405 | |
Equity Commonwealth | 226,654 | 4,313 | |
NETSTREIT Corp. | 238,623 | 4,040 | |
Newmark Group Inc. Class A | 530,175 | 3,759 | |
* | Jones Lang LaSalle Inc. | 20,994 | 3,628 |
* | CBRE Group Inc. Class A | 41,453 | 3,526 |
RPT Realty | 30,003 | 340 | |
90,871 | |||
Utilities (1.0%) | |||
ALLETE Inc. | 74,491 | 4,090 | |
Portland General Electric Co. | 79,375 | 3,481 | |
Unitil Corp. | 51,547 | 2,517 | |
10,088 | |||
Total Common Stocks (Cost $771,197) | 914,424 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (5.4%) | |||
Money Market Fund (5.4%) | |||
2,3 | Vanguard Market Liquidity Fund, 5.384% (Cost $51,541) | 515,538 | 51,549 |
Total Investments (100.7%) (Cost $822,738) | 965,973 | ||
Other Assets and Liabilities—Net (-0.7%) | (6,575) | ||
Net Assets (100%) | 959,398 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $7,389,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $7,993,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2023 | 153 | 14,547 | (95) |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $771,197) | 914,424 |
Affiliated Issuers (Cost $51,541) | 51,549 |
Total Investments in Securities | 965,973 |
Investment in Vanguard | 33 |
Cash Collateral Pledged—Futures Contracts | 1,010 |
Receivables for Investment Securities Sold | 5,058 |
Receivables for Accrued Income | 1,262 |
Receivables for Capital Shares Issued | 118 |
Total Assets | 973,454 |
Liabilities | |
Due to Custodian | 1 |
Payables for Investment Securities Purchased | 4,821 |
Collateral for Securities on Loan | 7,993 |
Payables to Investment Advisor | 642 |
Payables for Capital Shares Redeemed | 473 |
Payables to Vanguard | 91 |
Variation Margin Payable—Futures Contracts | 35 |
Total Liabilities | 14,056 |
Net Assets | 959,398 |
1 Includes $7,389,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 805,592 |
Total Distributable Earnings (Loss) | 153,806 |
Net Assets | 959,398 |
Net Assets | |
Applicable to 23,199,820 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 959,398 |
Net Asset Value Per Share | $41.35 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 17,416 |
Interest2 | 2,463 |
Securities Lending—Net | 41 |
Total Income | 19,920 |
Expenses | |
Investment Advisory Fees—Note B | |
Basic Fee | 3,094 |
Performance Adjustment | (388) |
The Vanguard Group—Note C | |
Management and Administrative | 2,016 |
Marketing and Distribution | 69 |
Custodian Fees | 30 |
Auditing Fees | 42 |
Shareholders’ Reports | 56 |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 17 |
Total Expenses | 4,937 |
Expenses Paid Indirectly | (6) |
Net Expenses | 4,931 |
Net Investment Income | 14,989 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | 11,386 |
Futures Contracts | 431 |
Realized Net Gain (Loss) | 11,817 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 41,078 |
Futures Contracts | (1,431) |
Change in Unrealized Appreciation (Depreciation) | 39,647 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 66,453 |
1 | Dividends are net of foreign withholding taxes of $56,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $2,394,000, $10,000, less than $1,000, and $2,000, respectively. Purchases and sales are for temporary cash investment purposes. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 14,989 | 12,097 |
Realized Net Gain (Loss) | 11,817 | 25,613 |
Change in Unrealized Appreciation (Depreciation) | 39,647 | (159,680) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 66,453 | (121,970) |
Distributions | ||
Total Distributions | (39,564) | (47,190) |
Capital Share Transactions | ||
Issued | 101,865 | 260,809 |
Issued in Lieu of Cash Distributions | 37,424 | 44,561 |
Redeemed | (289,315) | (218,148) |
Net Increase (Decrease) from Capital Share Transactions | (150,026) | 87,222 |
Total Increase (Decrease) | (123,137) | (81,938) |
Net Assets | ||
Beginning of Period | 1,082,535 | 1,164,473 |
End of Period | 959,398 | 1,082,535 |
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $39.93 | $46.26 | $30.32 | $33.49 | $40.53 |
Investment Operations | |||||
Net Investment Income1 | .586 | .461 | .351 | .400 | .494 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.308 | (4.910) | 15.911 | (3.032) | (4.921) |
Total from Investment Operations | 2.894 | (4.449) | 16.262 | (2.632) | (4.427) |
Distributions | |||||
Dividends from Net Investment Income | (.495) | (.352) | (.322) | (.538) | (.366) |
Distributions from Realized Capital Gains | (.979) | (1.529) | — | — | (2.247) |
Total Distributions | (1.474) | (1.881) | (.322) | (.538) | (2.613) |
Net Asset Value, End of Period | $41.35 | $39.93 | $46.26 | $30.32 | $33.49 |
Total Return2 | 7.43% | -10.05% | 53.90% | -8.12% | -10.10% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $959 | $1,083 | $1,164 | $563 | $655 |
Ratio of Total Expenses to Average Net Assets3 | 0.49%4 | 0.53%4 | 0.52% | 0.64% | 0.55% |
Ratio of Net Investment Income to Average Net Assets | 1.48% | 1.05% | 0.85% | 1.28% | 1.45% |
Portfolio Turnover Rate | 23% | 31% | 41% | 42% | 27% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Includes performance-based investment advisory fee increases (decreases) of (0.04%), 0.02%, 0.01%, 0.09%, and 0.01%. |
4 | The ratio of expenses to average net assets for the period net of reduction from broker commission abatement arrangements was 0.49% and 0.53%, respectively. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | The investment advisory firms Frontier Capital Management Co., LLC, Cardinal Capital Management, L.L.C., and Ariel Investments, LLC, each provide investment advisory services to a portion of the fund for a fee calculated at an annual percentage rate of average net assets managed by the advisor. The basic fee of Frontier Capital Management Co., LLC, is subject to quarterly adjustments based on performance relative to the Russell 2000 Value Index for the preceding three years. The basic fee of Cardinal Capital Management, L.L.C., is subject to quarterly adjustments based on performance relative to the Russell 3000 Value Custom Index for periods prior to June 23, 2022, and to the new Russell 2500 Value Index, beginning June 23, 2022, for the preceding three years. The benchmark change will be fully phased in by August 2025. The basic fee of Ariel Investments, LLC, is subject to quarterly adjustments based on performance relative to the Russell 2500 Value Index since February 28, 2022. |
C. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund corporate management, administrative, marketing, distribution and cash management services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
D. | The fund has asked its investment advisors to direct certain security trades, subject to obtaining the best price and execution, to brokers who have agreed to rebate to the fund part of the commissions generated. Such rebates are used solely to reduce the fund’s management and administrative expenses. For the year ended August 31, 2023, these arrangements reduced the fund’s expenses by $6,000 (an annual rate of less than 0.01% of average net assets). |
E. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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. |
F. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable passive foreign investment companies and distributions in connection with fund share redemptions were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 193 |
Total Distributable Earnings (Loss) | (193) |
Amount ($000) | |
Undistributed Ordinary Income | 11,551 |
Undistributed Long-Term Gains | 7,415 |
Net Unrealized Gains (Losses) | 134,840 |
Capital Loss Carryforwards | — |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 153,806 |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 15,414 | 12,337 |
Long-Term Capital Gains | 24,150 | 34,853 |
Total | 39,564 | 47,190 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 831,133 |
Gross Unrealized Appreciation | 227,349 |
Gross Unrealized Depreciation | (92,509) |
Net Unrealized Appreciation (Depreciation) | 134,840 |
G. | During the year ended August 31, 2023, the fund purchased $217,630,000 of investment securities and sold $378,602,000 of investment securities, other than temporary cash investments. |
H. | Capital shares issued and redeemed were: |
Year Ended August 31, | ||
2023 Shares (000) | 2022 Shares (000) | |
Issued | 2,542 | 5,932 |
Issued in Lieu of Cash Distributions | 950 | 997 |
Redeemed | (7,404) | (4,988) |
Net Increase (Decrease) in Shares Outstanding | (3,912) | 1,941 |
I. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
J. | Management has determined that no events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
October 19, 2023
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
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Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Vanguard Russell 1000 Index Fund |
Vanguard Russell 1000 Value Index Fund |
Vanguard Russell 1000 Growth Index Fund |
Your Fund’s Performance at a Glance | 1 |
About Your Fund’s Expenses | 2 |
Russell 1000 Index Fund | 4 |
Russell 1000 Value Index Fund | 28 |
Russell 1000 Growth Index Fund | 52 |
Trustees Approve Advisory Arrangements | 74 |
Liquidity Risk Management | 76 |
• | For the 12 months ended August 31, 2023, returns for the three Vanguard Russell 1000 Index Funds ranged from 8.55% for Vanguard Russell 1000 Value Index Fund ETF Shares to 21.87% for Vanguard Russell 1000 Growth Index Fund ETF Shares. (ETF returns are based on net asset value.) Vanguard Russell 1000 Index Fund returned 15.34% for ETF Shares. Each fund closely tracked its target index. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks including the Federal Reserve fanned fears of recession, the economy proved more resilient than expected. |
• | Large-capitalization stocks performed better than their mid- and small-cap counterparts, and growth stocks performed better than value. |
• | Returns were positive in nine of the 11 industry sectors represented, led by technology, which returned more than 30% and was the top contributor in each of the Russell 1000 Funds. Industrials also contributed strong returns, followed by health care and consumer discretionary in both the Index Fund and the Growth Index Fund, and by energy and financials in the Value Index Fund. Real estate and utilities were detractors for all three funds. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Russell 1000 Index Fund | |||
ETF Shares | $1,000.00 | $1,138.20 | $0.43 |
Institutional Shares | 1,000.00 | 1,138.20 | 0.38 |
Russell 1000 Value Index Fund | |||
ETF Shares | $1,000.00 | $1,043.30 | $0.41 |
Institutional Shares | 1,000.00 | 1,043.30 | 0.36 |
Russell 1000 Growth Index Fund | |||
ETF Shares | $1,000.00 | $1,234.10 | $0.45 |
Institutional Shares | 1,000.00 | 1,234.20 | 0.39 |
Based on Hypothetical 5% Yearly Return | |||
Russell 1000 Index Fund | |||
ETF Shares | $1,000.00 | $1,024.80 | $0.41 |
Institutional Shares | 1,000.00 | 1,024.85 | 0.36 |
Russell 1000 Value Index Fund | |||
ETF Shares | $1,000.00 | $1,024.80 | $0.41 |
Institutional Shares | 1,000.00 | 1,024.85 | 0.36 |
Russell 1000 Growth Index Fund | |||
ETF Shares | $1,000.00 | $1,024.80 | $0.41 |
Institutional Shares | 1,000.00 | 1,024.85 | 0.36 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Russell 1000 Index Fund ETF Shares Net Asset Value | 15.34% | 10.70% | 12.43% | $32,280 | |
Russell 1000 Index Fund ETF Shares Market Price | 15.39 | 10.70 | 12.44 | 32,306 | |
Russell 1000 Index | 15.40 | 10.77 | 12.55 | 32,629 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Russell 1000 Index Fund Institutional Shares | 15.35% | 10.72% | 12.47% | $16,188,803 | |
Russell 1000 Index | 15.40 | 10.77 | 12.55 | 16,314,610 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 15,730,560 |
One Year | Five Years | Ten Years | |
Russell 1000 Index Fund ETF Shares Market Price | 15.39% | 66.27% | 223.06% |
Russell 1000 Index Fund ETF Shares Net Asset Value | 15.34 | 66.22 | 222.80 |
Russell 1000 Index | 15.40 | 66.78 | 226.29 |
Basic Materials | 1.9% |
Consumer Discretionary | 14.6 |
Consumer Staples | 5.1 |
Energy | 4.4 |
Financials | 10.1 |
Health Care | 12.5 |
Industrials | 12.8 |
Real Estate | 2.8 |
Technology | 30.9 |
Telecommunications | 2.3 |
Utilities | 2.6 |
Shares | Market Value• ($000) | ||
Common Stocks (99.7%) | |||
Basic Materials (1.9%) | |||
Linde plc | 68,262 | 26,420 | |
Air Products and Chemicals Inc. | 30,860 | 9,119 | |
Freeport-McMoRan Inc. | 198,620 | 7,927 | |
Ecolab Inc. | 34,568 | 6,354 | |
Nucor Corp. | 35,001 | 6,024 | |
Dow Inc. | 98,488 | 5,373 | |
Fastenal Co. | 79,428 | 4,573 | |
Newmont Corp. | 110,687 | 4,363 | |
LyondellBasell Industries NV Class A | 35,996 | 3,555 | |
Albemarle Corp. | 16,278 | 3,235 | |
International Flavors & Fragrances Inc. | 35,487 | 2,500 | |
Steel Dynamics Inc. | 22,282 | 2,375 | |
Reliance Steel & Aluminum Co. | 8,102 | 2,309 | |
Avery Dennison Corp. | 11,164 | 2,103 | |
CF Industries Holdings Inc. | 27,037 | 2,084 | |
Mosaic Co. | 46,371 | 1,801 | |
Celanese Corp. | 13,862 | 1,752 | |
International Paper Co. | 47,697 | 1,666 | |
FMC Corp. | 17,207 | 1,484 | |
Eastman Chemical Co. | 16,635 | 1,414 | |
* | Cleveland-Cliffs Inc. | 71,289 | 1,090 |
Olin Corp. | 18,150 | 1,053 | |
Royal Gold Inc. | 9,192 | 1,030 | |
United States Steel Corp. | 31,550 | 981 | |
Southern Copper Corp. | 11,973 | 966 | |
* | RBC Bearings Inc. | 3,866 | 891 |
Hexcel Corp. | 11,821 | 866 | |
Valvoline Inc. | 24,116 | 831 | |
Alcoa Corp. | 24,351 | 732 | |
Chemours Co. | 20,865 | 710 | |
Timken Co. | 8,759 | 669 | |
Huntsman Corp. | 23,896 | 666 | |
Element Solutions Inc. | 30,900 | 637 | |
Ashland Inc. | 6,867 | 595 | |
Westlake Corp. | 4,492 | 588 | |
SSR Mining Inc. (XTSE) | 29,300 | 435 | |
NewMarket Corp. | 883 | 415 | |
Scotts Miracle-Gro Co. | 5,604 | 318 | |
* | MP Materials Corp. | 14,172 | 297 |
SSR Mining Inc. | 52 | 1 | |
110,202 |
Shares | Market Value• ($000) | ||
Consumer Discretionary (14.5%) | |||
* | Amazon.com Inc. | 1,253,457 | 172,990 |
* | Tesla Inc. | 383,871 | 99,069 |
Home Depot Inc. | 140,888 | 46,535 | |
Costco Wholesale Corp. | 61,642 | 33,859 | |
Walmart Inc. | 198,608 | 32,296 | |
McDonald's Corp. | 101,516 | 28,541 | |
* | Netflix Inc. | 61,007 | 26,458 |
* | Walt Disney Co. | 254,459 | 21,293 |
Lowe's Cos. Inc. | 83,000 | 19,130 | |
NIKE Inc. Class B | 165,408 | 16,824 | |
* | Booking Holdings Inc. | 5,163 | 16,031 |
Starbucks Corp. | 157,010 | 15,299 | |
TJX Cos. Inc. | 160,161 | 14,812 | |
* | Uber Technologies Inc. | 269,746 | 12,740 |
Activision Blizzard Inc. | 108,439 | 9,975 | |
Target Corp. | 63,968 | 8,095 | |
* | O'Reilly Automotive Inc. | 8,484 | 7,972 |
* | Airbnb Inc. Class A | 56,382 | 7,417 |
* | Chipotle Mexican Grill Inc. | 3,822 | 7,364 |
Marriott International Inc. Class A | 35,116 | 7,146 | |
Ford Motor Co. | 545,923 | 6,622 | |
General Motors Co. | 193,061 | 6,469 | |
* | AutoZone Inc. | 2,552 | 6,460 |
* | Lululemon Athletica Inc. | 15,469 | 5,898 |
Ross Stores Inc. | 46,653 | 5,683 | |
* | Copart Inc. | 119,288 | 5,348 |
Hilton Worldwide Holdings Inc. | 35,775 | 5,318 | |
DR Horton Inc. | 43,242 | 5,147 | |
Estee Lauder Cos. Inc. Class A | 31,971 | 5,132 | |
Yum! Brands Inc. | 38,973 | 5,042 | |
* | Trade Desk Inc. Class A | 61,269 | 4,903 |
Electronic Arts Inc. | 38,097 | 4,571 | |
Dollar General Corp. | 30,463 | 4,219 | |
Lennar Corp. Class A | 35,231 | 4,196 | |
* | Warner Bros Discovery Inc. | 306,245 | 4,024 |
Delta Air Lines Inc. | 89,347 | 3,831 | |
* | Aptiv plc | 37,676 | 3,822 |
* | Dollar Tree Inc. | 28,931 | 3,540 |
eBay Inc. | 74,211 | 3,323 | |
Tractor Supply Co. | 15,203 | 3,322 | |
* | Take-Two Interactive Software Inc. | 22,904 | 3,257 |
* | Royal Caribbean Cruises Ltd. | 32,488 | 3,214 |
Genuine Parts Co. | 19,601 | 3,013 |
Shares | Market Value• ($000) | ||
* | Spotify Technology SA | 19,470 | 2,998 |
* | Coupang Inc. | 152,111 | 2,887 |
* | Ulta Beauty Inc. | 6,949 | 2,884 |
* | NVR Inc. | 412 | 2,627 |
Southwest Airlines Co. | 82,644 | 2,612 | |
Darden Restaurants Inc. | 16,772 | 2,608 | |
Las Vegas Sands Corp. | 45,965 | 2,522 | |
PulteGroup Inc. | 30,679 | 2,518 | |
* | United Airlines Holdings Inc. | 45,309 | 2,257 |
Garmin Ltd. | 21,280 | 2,256 | |
Omnicom Group Inc. | 27,401 | 2,220 | |
* | Carnival Corp. | 137,844 | 2,181 |
* | Expedia Group Inc. | 19,904 | 2,157 |
Best Buy Co. Inc. | 26,952 | 2,060 | |
LKQ Corp. | 36,754 | 1,931 | |
* | Liberty Media Corp.-Liberty Formula One Class C | 27,937 | 1,922 |
Pool Corp. | 5,252 | 1,920 | |
* | Deckers Outdoor Corp. | 3,621 | 1,916 |
Domino's Pizza Inc. | 4,884 | 1,892 | |
* | Live Nation Entertainment Inc. | 21,650 | 1,830 |
MGM Resorts International | 41,471 | 1,824 | |
* | Roblox Corp. Class A | 63,642 | 1,800 |
* | CarMax Inc. | 21,812 | 1,782 |
Interpublic Group of Cos. Inc. | 53,349 | 1,740 | |
* | DraftKings Inc. Class A | 57,679 | 1,710 |
* | Rivian Automotive Inc. Class A | 71,300 | 1,621 |
* | Caesars Entertainment Inc. | 28,878 | 1,596 |
RB Global Inc. | 25,030 | 1,545 | |
* | Burlington Stores Inc. | 9,064 | 1,471 |
* | Floor & Decor Holdings Inc. Class A | 14,598 | 1,455 |
Wynn Resorts Ltd. | 14,307 | 1,450 | |
Fox Corp. Class A | 40,311 | 1,333 | |
* | Five Below Inc. | 7,682 | 1,321 |
Service Corp. International | 20,892 | 1,319 | |
* | American Airlines Group Inc. | 89,487 | 1,318 |
BorgWarner Inc. (XNYS) | 32,072 | 1,307 | |
Hasbro Inc. | 17,946 | 1,292 | |
Williams-Sonoma Inc. | 9,032 | 1,275 | |
* | Etsy Inc. | 17,221 | 1,267 |
Toll Brothers Inc. | 15,425 | 1,264 | |
* | BJ's Wholesale Club Holdings Inc. | 18,645 | 1,256 |
Vail Resorts Inc. | 5,493 | 1,243 | |
Rollins Inc. | 30,992 | 1,226 | |
Churchill Downs Inc. | 9,770 | 1,224 | |
Aramark | 32,602 | 1,212 | |
Paramount Global Inc. Class B | 79,736 | 1,203 | |
News Corp. Class A | 55,379 | 1,190 | |
Bath & Body Works Inc. | 32,150 | 1,185 | |
Lithia Motors Inc. | 3,796 | 1,169 | |
Lear Corp. | 8,072 | 1,163 | |
* | Mattel Inc. | 49,468 | 1,096 |
Tapestry Inc. | 32,412 | 1,080 | |
Gentex Corp. | 32,851 | 1,073 | |
Tempur Sealy International Inc. | 22,917 | 1,071 | |
* | SiteOne Landscape Supply Inc. | 6,226 | 1,066 |
Whirlpool Corp. | 7,488 | 1,048 |
Shares | Market Value• ($000) | ||
New York Times Co. Class A | 22,294 | 987 | |
Dick's Sporting Goods Inc. | 8,427 | 980 | |
Texas Roadhouse Inc. | 9,371 | 976 | |
VF Corp. | 49,077 | 970 | |
* | Skechers USA Inc. Class A | 19,265 | 969 |
* | Norwegian Cruise Line Holdings Ltd. | 58,248 | 965 |
* | Capri Holdings Ltd. | 16,751 | 879 |
Wyndham Hotels & Resorts Inc. | 11,574 | 873 | |
Murphy USA Inc. | 2,709 | 861 | |
Polaris Inc. | 7,578 | 849 | |
* | RH | 2,299 | 840 |
H&R Block Inc. | 20,877 | 835 | |
* | Crocs Inc. | 8,556 | 833 |
*,1 | Wayfair Inc. Class A | 11,545 | 798 |
* | Bright Horizons Family Solutions Inc. | 8,095 | 764 |
Nexstar Media Group Inc. | 4,682 | 762 | |
Thor Industries Inc. | 7,184 | 753 | |
* | Alaska Air Group Inc. | 17,527 | 736 |
Hyatt Hotels Corp. Class A | 6,521 | 733 | |
* | Planet Fitness Inc. Class A | 11,959 | 727 |
PVH Corp. | 8,591 | 718 | |
*,1 | GameStop Corp. Class A | 37,577 | 697 |
Boyd Gaming Corp. | 10,395 | 695 | |
* | AutoNation Inc. | 4,310 | 677 |
Wingstop Inc. | 4,202 | 675 | |
Ralph Lauren Corp. | 5,697 | 664 | |
* | Ollie's Bargain Outlet Holdings Inc. | 8,399 | 647 |
*,1 | Lucid Group Inc. | 102,162 | 642 |
* | Avis Budget Group Inc. | 2,885 | 616 |
Harley-Davidson Inc. | 18,142 | 612 | |
* | YETI Holdings Inc. | 11,859 | 592 |
* | Coty Inc. Class A | 50,626 | 585 |
World Wrestling Entertainment Inc. Class A | 6,040 | 583 | |
Advance Auto Parts Inc. | 8,454 | 582 | |
Newell Brands Inc. | 54,274 | 574 | |
Fox Corp. Class B | 18,716 | 571 | |
U-Haul Holding Co. | 10,451 | 556 | |
Choice Hotels International Inc. | 4,315 | 548 | |
Marriott Vacations Worldwide Corp. | 5,026 | 546 | |
* | Liberty Media Corp. - Liberty SiriusXM Class C | 21,965 | 537 |
* | Lyft Inc. Class A | 43,341 | 511 |
Leggett & Platt Inc. | 18,053 | 509 | |
* | Penn Entertainment Inc. | 21,396 | 507 |
* | Grand Canyon Education Inc. | 4,126 | 484 |
Wendy's Co. | 24,087 | 477 | |
Macy's Inc. | 38,159 | 467 | |
Madison Square Garden Sports Corp. | 2,570 | 457 | |
Penske Automotive Group Inc. | 2,757 | 453 | |
Travel & Leisure Co. | 10,096 | 406 | |
Kohl's Corp. | 15,090 | 402 | |
1 | Sirius XM Holdings Inc. | 87,049 | 383 |
Carter's Inc. | 5,238 | 375 | |
Columbia Sportswear Co. | 5,077 | 372 | |
News Corp. Class B | 14,348 | 316 | |
Gap Inc. | 26,961 | 312 |
Shares | Market Value• ($000) | ||
* | Hertz Global Holdings Inc. | 18,335 | 311 |
* | QuantumScape Corp. | 39,804 | 284 |
* | Peloton Interactive Inc. Class A | 41,817 | 267 |
Nordstrom Inc. | 15,778 | 256 | |
* | Under Armour Inc. Class A | 32,788 | 251 |
* | Liberty Media Corp.-Liberty SiriusXM Class A | 10,027 | 241 |
* | TripAdvisor Inc. | 15,873 | 240 |
* | Liberty Media Corp.-Liberty Live Class C | 6,687 | 225 |
* | Victoria's Secret & Co. | 10,823 | 208 |
* | Phinia Inc. | 6,540 | 182 |
* | Under Armour Inc. Class C | 18,533 | 128 |
* | Liberty Media Corp.-Liberty Formula One Class A | 2,060 | 125 |
* | Driven Brands Holdings Inc. | 8,100 | 122 |
Lennar Corp. Class B | 1,119 | 119 | |
*,1 | AMC Entertainment Holdings Inc. Class A | 8,453 | 106 |
1 | U-Haul Holding Co. (XNYS) | 1,738 | 99 |
* | Liberty Media Corp.-Liberty Live Class A | 2,593 | 86 |
* | Mister Car Wash Inc. | 11,554 | 84 |
* | Petco Health & Wellness Co. Inc. | 11,226 | 57 |
1 | Paramount Global Class A | 2,317 | 43 |
* | Playtika Holding Corp. | 3,222 | 31 |
843,896 | |||
Consumer Staples (5.1%) | |||
Procter & Gamble Co. | 327,561 | 50,556 | |
PepsiCo Inc. | 191,725 | 34,112 | |
Coca-Cola Co. | 542,067 | 32,432 | |
Philip Morris International Inc. | 215,880 | 20,737 | |
Mondelez International Inc. Class A | 189,082 | 13,474 | |
CVS Health Corp. | 178,096 | 11,607 | |
Altria Group Inc. | 248,541 | 10,991 | |
Colgate-Palmolive Co. | 114,324 | 8,399 | |
McKesson Corp. | 19,056 | 7,857 | |
Kimberly-Clark Corp. | 46,944 | 6,048 | |
Archer-Daniels-Midland Co. | 75,398 | 5,979 | |
* | Monster Beverage Corp. | 103,446 | 5,939 |
Constellation Brands Inc. Class A | 21,265 | 5,541 | |
General Mills Inc. | 81,687 | 5,527 | |
Corteva Inc. | 99,229 | 5,012 | |
Kenvue Inc. | 213,758 | 4,927 | |
Sysco Corp. | 70,594 | 4,917 | |
Keurig Dr Pepper Inc. | 132,618 | 4,463 | |
Hershey Co. | 20,439 | 4,392 | |
Kroger Co. | 90,780 | 4,211 | |
Cencora Inc. | 22,487 | 3,957 | |
Kraft Heinz Co. | 111,702 | 3,696 | |
Church & Dwight Co. Inc. | 33,833 | 3,274 | |
McCormick & Co. Inc. | 34,862 | 2,861 | |
Clorox Co. | 17,123 | 2,679 | |
Walgreens Boots Alliance Inc. | 99,189 | 2,510 | |
Bunge Ltd. | 20,677 | 2,364 | |
Kellogg Co. | 36,048 | 2,200 | |
J M Smucker Co. | 14,270 | 2,068 | |
Tyson Foods Inc. Class A | 38,449 | 2,048 | |
Conagra Brands Inc. | 65,900 | 1,969 | |
Lamb Weston Holdings Inc. | 20,135 | 1,961 |
Shares | Market Value• ($000) | ||
Brown-Forman Corp. Class B | 24,489 | 1,619 | |
Hormel Foods Corp. | 40,646 | 1,569 | |
Molson Coors Beverage Co. Class B | 24,065 | 1,528 | |
* | Celsius Holdings Inc. | 7,629 | 1,496 |
* | Darling Ingredients Inc. | 22,235 | 1,373 |
* | Performance Food Group Co. | 21,463 | 1,334 |
Albertsons Cos. Inc. Class A | 57,101 | 1,279 | |
Casey's General Stores Inc. | 5,218 | 1,275 | |
* | US Foods Holding Corp. | 31,123 | 1,258 |
Campbell Soup Co. | 26,911 | 1,122 | |
Ingredion Inc. | 9,239 | 951 | |
* | Post Holdings Inc. | 7,394 | 663 |
Flowers Foods Inc. | 26,517 | 625 | |
Brown-Forman Corp. Class A | 7,707 | 518 | |
* | Freshpet Inc. | 6,506 | 491 |
Spectrum Brands Holdings Inc. | 5,664 | 471 | |
* | Boston Beer Co. Inc. Class A | 1,282 | 469 |
* | Grocery Outlet Holding Corp. | 13,295 | 410 |
Reynolds Consumer Products Inc. | 7,412 | 202 | |
* | Pilgrim's Pride Corp. | 6,188 | 156 |
Seaboard Corp. | 36 | 136 | |
* | Olaplex Holdings Inc. | 17,257 | 47 |
297,700 | |||
Energy (4.4%) | |||
Exxon Mobil Corp. | 565,174 | 62,842 | |
Chevron Corp. | 246,205 | 39,664 | |
ConocoPhillips | 168,705 | 20,081 | |
Schlumberger NV | 198,125 | 11,681 | |
EOG Resources Inc. | 81,768 | 10,517 | |
Marathon Petroleum Corp. | 61,409 | 8,767 | |
Pioneer Natural Resources Co. | 32,381 | 7,704 | |
Phillips 66 | 64,117 | 7,320 | |
Valero Energy Corp. | 50,149 | 6,514 | |
Occidental Petroleum Corp. | 97,046 | 6,094 | |
Hess Corp. | 38,628 | 5,968 | |
Williams Cos. Inc. | 169,424 | 5,850 | |
Cheniere Energy Inc. | 33,733 | 5,505 | |
Baker Hughes Co. | 140,758 | 5,094 | |
Halliburton Co. | 124,762 | 4,818 | |
Kinder Morgan Inc. | 272,964 | 4,700 | |
Devon Energy Corp. | 89,139 | 4,554 | |
ONEOK Inc. | 62,148 | 4,052 | |
Diamondback Energy Inc. | 25,178 | 3,822 | |
Coterra Energy Inc. | 105,191 | 2,965 | |
* | First Solar Inc. | 14,764 | 2,792 |
Targa Resources Corp. | 31,004 | 2,674 | |
* | Enphase Energy Inc. | 18,477 | 2,338 |
Marathon Oil Corp. | 85,953 | 2,265 | |
EQT Corp. | 49,873 | 2,156 | |
APA Corp. | 42,846 | 1,878 | |
Ovintiv Inc. (XNYS) | 34,021 | 1,598 | |
Chesapeake Energy Corp. | 17,460 | 1,540 | |
Texas Pacific Land Corp. | 802 | 1,512 | |
TechnipFMC plc | 61,548 | 1,172 | |
NOV Inc. | ���55,015 | 1,162 |
Shares | Market Value• ($000) | ||
* | Antero Resources Corp. | 39,657 | 1,097 |
HF Sinclair Corp. | 19,851 | 1,094 | |
Range Resources Corp. | 32,120 | 1,040 | |
* | Southwestern Energy Co. | 151,104 | 1,025 |
DTE Midstream LLC | 13,689 | 716 | |
* | Plug Power Inc. | 73,265 | 620 |
Antero Midstream Corp. | 47,600 | 577 | |
*,1 | ChargePoint Holdings Inc. | 39,797 | 285 |
New Fortress Energy Inc. | 8,821 | 274 | |
256,327 | |||
Financials (10.1%) | |||
* | Berkshire Hathaway Inc. Class B | 254,807 | 91,781 |
JPMorgan Chase & Co. | 406,776 | 59,524 | |
Bank of America Corp. | 969,161 | 27,786 | |
Wells Fargo & Co. | 525,867 | 21,713 | |
S&P Global Inc. | 44,637 | 17,447 | |
Goldman Sachs Group Inc. | 44,929 | 14,724 | |
BlackRock Inc. | 20,684 | 14,490 | |
Morgan Stanley | 167,297 | 14,245 | |
Marsh & McLennan Cos. Inc. | 68,890 | 13,433 | |
Charles Schwab Corp. | 206,183 | 12,196 | |
Chubb Ltd. | 57,362 | 11,522 | |
Citigroup Inc. | 270,685 | 11,177 | |
Progressive Corp. | 81,307 | 10,852 | |
Blackstone Inc. | 98,116 | 10,437 | |
CME Group Inc. | 49,969 | 10,128 | |
Aon plc Class A (XNYS) | 28,133 | 9,379 | |
Intercontinental Exchange Inc. | 77,139 | 9,102 | |
US Bancorp | 213,156 | 7,787 | |
Moody's Corp. | 22,085 | 7,438 | |
Arthur J Gallagher & Co. | 29,454 | 6,789 | |
PNC Financial Services Group Inc. | 55,408 | 6,689 | |
Apollo Global Management Inc. | 72,501 | 6,332 | |
Aflac Inc. | 83,753 | 6,245 | |
American International Group Inc. | 102,026 | 5,971 | |
MSCI Inc. | 10,811 | 5,877 | |
MetLife Inc. | 89,948 | 5,697 | |
KKR & Co. Inc. | 89,751 | 5,637 | |
Truist Financial Corp. | 184,469 | 5,636 | |
Travelers Cos. Inc. | 32,095 | 5,175 | |
Ameriprise Financial Inc. | 14,623 | 4,936 | |
Bank of New York Mellon Corp. | 109,964 | 4,934 | |
Prudential Financial Inc. | 51,037 | 4,832 | |
Allstate Corp. | 36,464 | 3,931 | |
* | Arch Capital Group Ltd. | 49,734 | 3,823 |
T Rowe Price Group Inc. | 30,651 | 3,440 | |
State Street Corp. | 46,361 | 3,187 | |
Discover Financial Services | 35,223 | 3,173 | |
Willis Towers Watson plc | 14,829 | 3,066 | |
Hartford Financial Services Group Inc. | 42,219 | 3,032 | |
Broadridge Financial Solutions Inc. | 16,271 | 3,030 | |
M&T Bank Corp. | 22,946 | 2,869 | |
Raymond James Financial Inc. | 27,129 | 2,837 | |
* | Markel Group Inc. | 1,821 | 2,693 |
Principal Financial Group Inc. | 33,535 | 2,606 | |
Fifth Third Bancorp | 94,074 | 2,498 |
Shares | Market Value• ($000) | ||
LPL Financial Holdings Inc. | 10,817 | 2,494 | |
Nasdaq Inc. | 47,364 | 2,486 | |
Brown & Brown Inc. | 32,864 | 2,435 | |
Regions Financial Corp. | 130,816 | 2,399 | |
Ares Management Corp. Class A | 22,449 | 2,322 | |
FactSet Research Systems Inc. | 5,308 | 2,316 | |
Cincinnati Financial Corp. | 21,253 | 2,248 | |
Huntington Bancshares Inc. | 198,914 | 2,206 | |
Cboe Global Markets Inc. | 14,535 | 2,176 | |
Northern Trust Corp. | 28,348 | 2,156 | |
Everest Group Ltd. | 5,853 | 2,111 | |
First Citizens BancShares Inc. Class A | 1,500 | 2,041 | |
Citizens Financial Group Inc. | 66,636 | 1,874 | |
* | Coinbase Global Inc. Class A | 23,089 | 1,838 |
W R Berkley Corp. | 29,309 | 1,813 | |
Loews Corp. | 26,461 | 1,643 | |
Fidelity National Financial Inc. | 36,360 | 1,505 | |
KeyCorp | 128,198 | 1,453 | |
Equitable Holdings Inc. | 49,181 | 1,416 | |
Tradeweb Markets Inc. Class A | 16,092 | 1,391 | |
Globe Life Inc. | 12,405 | 1,384 | |
Annaly Capital Management Inc. | 68,021 | 1,379 | |
Unum Group | 26,961 | 1,326 | |
RenaissanceRe Holdings Ltd. | 6,883 | 1,293 | |
Reinsurance Group of America Inc. | 9,313 | 1,291 | |
Interactive Brokers Group Inc. Class A | 13,976 | 1,273 | |
MarketAxess Holdings Inc. | 5,193 | 1,251 | |
New York Community Bancorp Inc. | 99,822 | 1,226 | |
Kinsale Capital Group Inc. | 3,059 | 1,219 | |
* | XP Inc. Class A | 46,601 | 1,181 |
American Financial Group Inc. | 10,182 | 1,180 | |
* | SoFi Technologies Inc. | 128,713 | 1,115 |
East West Bancorp Inc. | 19,681 | 1,089 | |
Franklin Resources Inc. | 39,857 | 1,066 | |
Ally Financial Inc. | 37,966 | 1,051 | |
Webster Financial Corp. | 24,424 | 1,036 | |
Assurant Inc. | 7,424 | 1,034 | |
Primerica Inc. | 5,083 | 1,021 | |
Old Republic International Corp. | 37,199 | 1,017 | |
* | Robinhood Markets Inc. Class A | 93,103 | 1,014 |
Jefferies Financial Group Inc. | 27,912 | 996 | |
Voya Financial Inc. | 13,747 | 958 | |
Stifel Financial Corp. | 14,472 | 941 | |
Carlyle Group Inc. | 29,011 | 939 | |
First Horizon Corp. | 73,092 | 917 | |
Comerica Inc. | 18,454 | 888 | |
First American Financial Corp. | 14,129 | 871 | |
SEI Investments Co. | 13,959 | 866 | |
1 | Starwood Property Trust Inc. | 41,488 | 848 |
Shares | Market Value• ($000) | ||
Invesco Ltd. | 52,387 | 834 | |
Morningstar Inc. | ���3,525 | 820 | |
AGNC Investment Corp. | 80,727 | 800 | |
Commerce Bancshares Inc. | 16,140 | 792 | |
Cullen/Frost Bankers Inc. | 8,113 | 767 | |
Western Alliance Bancorp | 15,170 | 759 | |
Blue Owl Capital Inc. | 61,292 | 732 | |
RLI Corp. | 5,473 | 720 | |
Zions Bancorp NA | 20,190 | 717 | |
Houlihan Lokey Inc. | 6,767 | 713 | |
MGIC Investment Corp. | 40,433 | 711 | |
Pinnacle Financial Partners Inc. | 10,670 | 710 | |
Evercore Inc. Class A | 4,951 | 693 | |
Rithm Capital Corp. | 66,201 | 683 | |
Prosperity Bancshares Inc. | 11,995 | 681 | |
Popular Inc. | 9,952 | 680 | |
Wintrust Financial Corp. | 8,522 | 661 | |
OneMain Holdings Inc. | 15,710 | 652 | |
Affiliated Managers Group Inc. | 4,856 | 651 | |
* | Ryan Specialty Holdings Inc. | 13,037 | 636 |
Synovus Financial Corp. | 20,487 | 634 | |
Bank OZK | 15,157 | 609 | |
Axis Capital Holdings Ltd. | 10,888 | 597 | |
Lincoln National Corp. | 23,061 | 592 | |
Columbia Banking System Inc. | 28,328 | 580 | |
FNB Corp. | 49,768 | 579 | |
White Mountains Insurance Group Ltd. | 336 | 534 | |
Lazard Ltd. Class A | 14,899 | 518 | |
Hanover Insurance Group Inc. | 4,809 | 513 | |
Janus Henderson Group plc | 18,231 | 501 | |
SLM Corp. | 33,705 | 480 | |
Assured Guaranty Ltd. | 8,021 | 472 | |
* | Brighthouse Financial Inc. | 9,176 | 456 |
* | Credit Acceptance Corp. | 889 | 446 |
Kemper Corp. | 8,513 | 400 | |
Corebridge Financial Inc. | 20,424 | 364 | |
BOK Financial Corp. | 3,998 | 332 | |
First Hawaiian Inc. | 17,295 | 327 | |
TPG Inc. | 8,718 | 245 | |
Virtu Financial Inc. Class A | 12,654 | 237 | |
* | Rocket Cos. Inc. Class A | 16,351 | 175 |
CNA Financial Corp. | 3,716 | 146 | |
TFS Financial Corp. | 6,765 | 92 | |
1 | UWM Holdings Corp. | 11,001 | 66 |
586,396 | |||
Health Care (12.5%) | |||
Eli Lilly & Co. | 117,740 | 65,252 | |
UnitedHealth Group Inc. | 129,316 | 61,629 | |
Johnson & Johnson | 335,332 | 54,217 | |
Merck & Co. Inc. | 353,410 | 38,515 | |
AbbVie Inc. | 245,537 | 36,084 | |
Thermo Fisher Scientific Inc. | 53,684 | 29,907 | |
Pfizer Inc. | 786,198 | 27,816 | |
Abbott Laboratories | 240,890 | 24,788 | |
Danaher Corp. | 91,588 | 24,271 | |
Amgen Inc. | 74,338 | 19,056 | |
Bristol-Myers Squibb Co. | 292,543 | 18,035 | |
* | Intuitive Surgical Inc. | 48,591 | 15,193 |
Shares | Market Value• ($000) | ||
Medtronic plc | 184,845 | 15,065 | |
Elevance Health Inc. | 32,970 | 14,573 | |
Stryker Corp. | 49,437 | 14,018 | |
Gilead Sciences Inc. | 173,935 | 13,303 | |
* | Vertex Pharmaceuticals Inc. | 35,852 | 12,489 |
Zoetis Inc. | 64,390 | 12,267 | |
* | Regeneron Pharmaceuticals Inc. | 14,416 | 11,915 |
Cigna Group | 40,601 | 11,216 | |
Becton Dickinson & Co. | 39,442 | 11,022 | |
* | Boston Scientific Corp. | 199,850 | 10,780 |
Humana Inc. | 17,372 | 8,019 | |
HCA Healthcare Inc. | 28,426 | 7,883 | |
* | Edwards Lifesciences Corp. | 83,790 | 6,407 |
* | IDEXX Laboratories Inc. | 11,455 | 5,858 |
* | IQVIA Holdings Inc. | 25,647 | 5,710 |
* | DexCom Inc. | 53,782 | 5,431 |
* | Biogen Inc. | 20,043 | 5,359 |
* | Moderna Inc. | 46,769 | 5,288 |
Agilent Technologies Inc. | 41,103 | 4,976 | |
* | Centene Corp. | 76,212 | 4,698 |
* | Veeva Systems Inc. Class A | 20,106 | 4,196 |
West Pharmaceutical Services Inc. | 10,293 | 4,188 | |
* | Seagen Inc. | 19,493 | 4,017 |
* | Align Technology Inc. | 10,605 | 3,925 |
GE Healthcare Inc. | 54,237 | 3,821 | |
* | Illumina Inc. | 21,978 | 3,631 |
* | Horizon Therapeutics plc | 31,159 | 3,513 |
Zimmer Biomet Holdings Inc. | 29,242 | 3,483 | |
* | Alnylam Pharmaceuticals Inc. | 17,169 | 3,396 |
ResMed Inc. | 20,204 | 3,224 | |
STERIS plc | 13,772 | 3,162 | |
Cardinal Health Inc. | 35,795 | 3,126 | |
* | ICON plc | 11,298 | 2,937 |
Baxter International Inc. | 70,176 | 2,849 | |
Laboratory Corp. of America Holdings | 12,260 | 2,551 | |
* | Hologic Inc. | 33,739 | 2,522 |
Cooper Cos. Inc. | 6,744 | 2,495 | |
* | Molina Healthcare Inc. | 8,006 | 2,483 |
* | BioMarin Pharmaceutical Inc. | 25,912 | 2,368 |
* | Exact Sciences Corp. | 24,742 | 2,070 |
Revvity Inc. | 17,466 | 2,044 | |
Quest Diagnostics Inc. | 15,493 | 2,037 | |
* | Avantor Inc. | 93,363 | 2,021 |
* | Insulet Corp. | 9,596 | 1,840 |
Viatris Inc. | 164,894 | 1,773 | |
Bio-Techne Corp. | 21,480 | 1,684 | |
* | Incyte Corp. | 25,407 | 1,640 |
Royalty Pharma plc Class A | 51,157 | 1,526 | |
* | Sarepta Therapeutics Inc. | 12,313 | 1,490 |
* | Charles River Laboratories International Inc. | 7,123 | 1,473 |
* | Neurocrine Biosciences Inc. | 13,289 | 1,447 |
* | QIAGEN NV | 31,284 | 1,423 |
Teleflex Inc. | 6,587 | 1,401 | |
* | United Therapeutics Corp. | 6,206 | 1,392 |
* | Henry Schein Inc. | 17,926 | 1,372 |
* | Repligen Corp. | 7,791 | 1,355 |
* | Penumbra Inc. | 5,001 | 1,323 |
Shares | Market Value• ($000) | ||
* | Catalent Inc. | 25,236 | 1,261 |
* | Jazz Pharmaceuticals plc | 8,554 | 1,226 |
* | Bio-Rad Laboratories Inc. Class A | 2,948 | 1,180 |
Universal Health Services Inc. Class B | 8,496 | 1,144 | |
* | Shockwave Medical Inc. | 5,088 | 1,121 |
* | Tenet Healthcare Corp. | 14,163 | 1,099 |
DENTSPLY SIRONA Inc. | 29,056 | 1,078 | |
Chemed Corp. | 2,053 | 1,050 | |
* | Exelixis Inc. | 45,006 | 1,008 |
Encompass Health Corp. | 13,831 | 983 | |
Bruker Corp. | 14,900 | 977 | |
* | Acadia Healthcare Co. Inc. | 12,572 | 969 |
* | Karuna Therapeutics Inc. | 4,992 | 937 |
* | Inspire Medical Systems Inc. | 4,032 | 915 |
* | Globus Medical Inc. Class A | 16,468 | 891 |
* | Medpace Holdings Inc. | 3,185 | 861 |
* | Natera Inc. | 14,604 | 858 |
* | Elanco Animal Health Inc. (XNYS) | 67,207 | 820 |
* | Ionis Pharmaceuticals Inc. | 20,000 | 805 |
Organon & Co. | 35,844 | 787 | |
* | DaVita Inc. | 7,614 | 780 |
* | Masimo Corp. | 6,663 | 761 |
* | Envista Holdings Corp. | 22,950 | 735 |
* | agilon health Inc. | 39,191 | 694 |
* | 10X Genomics Inc. Class A | 12,884 | 668 |
Perrigo Co. plc | 18,914 | 662 | |
* | Syneos Health Inc. | 14,528 | 621 |
* | QuidelOrtho Corp. | 7,281 | 600 |
* | Apellis Pharmaceuticals Inc. | 13,994 | 591 |
* | Azenta Inc. | 9,391 | 530 |
* | Teladoc Health Inc. | 23,305 | 528 |
* | Ginkgo Bioworks Holdings Inc. | 208,736 | 488 |
* | Amedisys Inc. | 4,573 | 429 |
* | Integra LifeSciences Holdings Corp. | 9,815 | 418 |
* | Enovis Corp. | 7,214 | 404 |
* | ICU Medical Inc. | 2,740 | 397 |
* | Roivant Sciences Ltd. | 33,134 | 383 |
Premier Inc. Class A | 16,939 | 365 | |
* | R1 RCM Inc. | 20,826 | 359 |
* | Doximity Inc. Class A | 14,677 | 350 |
* | Ultragenyx Pharmaceutical Inc. | 9,394 | 346 |
* | Fortrea Holdings Inc. | 12,415 | 342 |
* | Novocure Ltd. | 14,722 | 325 |
* | Certara Inc. | 16,476 | 266 |
* | Mirati Therapeutics Inc. | 6,374 | 237 |
* | Tandem Diabetes Care Inc. | 8,522 | 233 |
* | Sotera Health Co. | 13,728 | 222 |
* | Maravai LifeSciences Holdings Inc. Class A | 14,345 | 148 |
725,090 | |||
Industrials (12.8%) | |||
Visa Inc. Class A | 225,324 | 55,358 | |
Mastercard Inc. Class A | 116,746 | 48,174 | |
Accenture plc Class A | 87,919 | 28,466 | |
Caterpillar Inc. | 71,849 | 20,199 | |
Union Pacific Corp. | 84,793 | 18,703 | |
RTX Corp. | 203,307 | 17,493 |
Shares | Market Value• ($000) | ||
Honeywell International Inc. | 92,647 | 17,412 | |
* | Boeing Co. | 77,570 | 17,378 |
General Electric Co. | 150,807 | 17,261 | |
United Parcel Service Inc. Class B (XNYS) | 100,746 | 17,066 | |
Deere & Co. | 37,941 | 15,591 | |
Automatic Data Processing Inc. | 57,554 | 14,654 | |
Lockheed Martin Corp. | 31,475 | 14,112 | |
American Express Co. | 82,292 | 13,001 | |
Eaton Corp. plc | 55,356 | 12,752 | |
Illinois Tool Works Inc. | 42,208 | 10,440 | |
* | Fiserv Inc. | 85,553 | 10,385 |
* | PayPal Holdings Inc. | 156,187 | 9,763 |
Sherwin-Williams Co. | 33,091 | 8,991 | |
Northrop Grumman Corp. | 19,919 | 8,627 | |
CSX Corp. | 282,272 | 8,525 | |
FedEx Corp. | 32,250 | 8,418 | |
3M Co. | 76,470 | 8,157 | |
Emerson Electric Co. | 79,340 | 7,795 | |
General Dynamics Corp. | 34,066 | 7,721 | |
Parker-Hannifin Corp. | 17,766 | 7,407 | |
Carrier Global Corp. | 115,815 | 6,654 | |
* | TransDigm Group Inc. | 7,284 | 6,584 |
Trane Technologies plc | 31,671 | 6,501 | |
Norfolk Southern Corp. | 31,586 | 6,475 | |
Cintas Corp. | 12,053 | 6,077 | |
PACCAR Inc. | 71,324 | 5,869 | |
Old Dominion Freight Line Inc. | 13,707 | 5,858 | |
Johnson Controls International plc | 95,558 | 5,644 | |
Paychex Inc. | 44,830 | 5,480 | |
Capital One Financial Corp. | 52,674 | 5,393 | |
AMETEK Inc. | 31,899 | 5,088 | |
Rockwell Automation Inc. | 15,953 | 4,979 | |
Otis Worldwide Corp. | 57,542 | 4,923 | |
DuPont de Nemours Inc. | 63,858 | 4,910 | |
Verisk Analytics Inc. | 19,852 | 4,809 | |
L3Harris Technologies Inc. | 26,304 | 4,684 | |
Ferguson plc | 28,703 | 4,637 | |
PPG Industries Inc. | 32,648 | 4,628 | |
Global Payments Inc. | 36,373 | 4,608 | |
Fidelity National Information Services Inc. | 82,240 | 4,594 | |
United Rentals Inc. | 9,535 | 4,544 | |
Cummins Inc. | 19,720 | 4,536 | |
WW Grainger Inc. | 6,205 | 4,431 | |
* | Block Inc. (XNYS) | 75,356 | 4,344 |
Quanta Services Inc. | 19,993 | 4,196 | |
Vulcan Materials Co. | 18,421 | 4,020 | |
Ingersoll Rand Inc. (XYNS) | 56,183 | 3,911 | |
Fortive Corp. | 49,194 | 3,879 | |
Martin Marietta Materials Inc. | 8,578 | 3,829 | |
* | Mettler-Toledo International Inc. | 3,033 | 3,680 |
Equifax Inc. | 16,941 | 3,502 | |
Xylem Inc. | 32,992 | 3,416 | |
* | Keysight Technologies Inc. | 24,699 | 3,292 |
* | Fair Isaac Corp. | 3,367 | 3,046 |
Dover Corp. | 19,371 | 2,873 | |
Westinghouse Air Brake Technologies Corp. | 24,765 | 2,787 | |
* | Teledyne Technologies Inc. | 6,475 | 2,708 |
* | FleetCor Technologies Inc. | 9,951 | 2,704 |
Shares | Market Value• ($000) | ||
Howmet Aerospace Inc. | 52,566 | 2,600 | |
* | Builders FirstSource Inc. | 17,633 | 2,557 |
Expeditors International of Washington Inc. | 21,327 | 2,489 | |
Hubbell Inc. | 7,417 | 2,418 | |
IDEX Corp. | 10,475 | 2,372 | |
Jacobs Solutions Inc. | 17,416 | 2,348 | |
Ball Corp. | 42,712 | 2,326 | |
* | Waters Corp. | 8,112 | 2,278 |
* | NU Holdings Ltd. Class A | 319,621 | 2,189 |
TransUnion | 26,740 | 2,172 | |
JB Hunt Transport Services Inc. | 11,519 | 2,164 | |
Textron Inc. | 27,821 | 2,162 | |
* | Axon Enterprise Inc. | 9,610 | 2,046 |
Booz Allen Hamilton Holding Corp. | 17,973 | 2,037 | |
Stanley Black & Decker Inc. | 21,192 | 2,000 | |
Amcor plc | 204,656 | 1,993 | |
* | Zebra Technologies Corp. Class A | 7,095 | 1,951 |
Snap-on Inc. | 7,196 | 1,933 | |
Nordson Corp. | 7,906 | 1,930 | |
Synchrony Financial | 58,896 | 1,901 | |
* | Trimble Inc. | 34,038 | 1,865 |
CNH Industrial NV | 135,265 | 1,864 | |
Carlisle Cos. Inc. | 6,988 | 1,838 | |
Masco Corp. | 31,035 | 1,831 | |
Graco Inc. | 23,091 | 1,823 | |
Packaging Corp. of America | 12,204 | 1,820 | |
Owens Corning | 12,364 | 1,779 | |
RPM International Inc. | 17,515 | 1,747 | |
Watsco Inc. | 4,575 | �� 1,668 | |
Lennox International Inc. | 4,403 | 1,659 | |
* | Bill Holdings Inc. | 14,179 | 1,635 |
Pentair plc | 22,996 | 1,616 | |
AECOM | 18,338 | 1,609 | |
* | Saia Inc. | 3,721 | 1,586 |
Jack Henry & Associates Inc. | 10,017 | 1,570 | |
Lincoln Electric Holdings Inc. | 7,820 | 1,505 | |
Regal Rexnord Corp. | 9,276 | 1,504 | |
Toro Co. | 14,589 | 1,493 | |
HEICO Corp. Class A | 10,972 | 1,486 | |
CH Robinson Worldwide Inc. | 16,109 | 1,457 | |
EMCOR Group Inc. | 6,434 | 1,443 | |
Allegion plc | 12,301 | 1,400 | |
Crown Holdings Inc. | 14,865 | 1,377 | |
nVent Electric plc | 23,059 | 1,304 | |
* | TopBuild Corp. | 4,435 | 1,287 |
A O Smith Corp. | 17,197 | 1,247 | |
Fortune Brands Innovations Inc. | 17,717 | 1,223 | |
AptarGroup Inc. | 9,152 | 1,213 | |
Huntington Ingalls Industries Inc. | 5,494 | 1,210 | |
Knight-Swift Transportation Holdings Inc. | 21,816 | 1,196 | |
* | XPO Inc. | 15,975 | 1,192 |
ITT Inc. | 11,615 | 1,188 | |
* | Paylocity Holding Corp. | 5,892 | 1,181 |
* | WEX Inc. | 6,000 | 1,177 |
Westrock Co. | 35,563 | 1,163 | |
Tetra Tech Inc. | 7,318 | 1,151 |
Shares | Market Value• ($000) | ||
Cognex Corp. | 24,235 | 1,141 | |
AGCO Corp. | 8,771 | 1,136 | |
* | WillScot Mobile Mini Holdings Corp. | 27,572 | 1,131 |
Advanced Drainage Systems Inc. | 8,735 | 1,119 | |
Curtiss-Wright Corp. | 5,348 | 1,112 | |
Berry Global Group Inc. | 17,006 | 1,111 | |
* | Trex Co. Inc. | 15,291 | 1,091 |
Robert Half Inc. | 14,737 | 1,090 | |
* | Middleby Corp. | 7,454 | 1,085 |
Woodward Inc. | 8,295 | 1,073 | |
HEICO Corp. | 6,334 | 1,069 | |
Donaldson Co. Inc. | 16,681 | 1,065 | |
* | GXO Logistics Inc. | 16,403 | 1,049 |
* | Generac Holdings Inc. | 8,534 | 1,014 |
WESCO International Inc. | 6,225 | 1,008 | |
Graphic Packaging Holding Co. | 42,651 | 949 | |
BWX Technologies Inc. | 12,796 | 944 | |
MSA Safety Inc. | 5,162 | 943 | |
Genpact Ltd. | 25,199 | 941 | |
MKS Instruments Inc. | 9,307 | 933 | |
Eagle Materials Inc. | 4,925 | 932 | |
Landstar System Inc. | 4,911 | 932 | |
Oshkosh Corp. | 8,917 | 926 | |
Littelfuse Inc. | 3,393 | 906 | |
* | Axalta Coating Systems Ltd. | 31,027 | 878 |
* | MasTec Inc. | 8,714 | 867 |
* | FTI Consulting Inc. | 4,578 | 851 |
Brunswick Corp. | 9,994 | 791 | |
Sonoco Products Co. | 13,682 | 786 | |
Sensata Technologies Holding plc | 20,841 | 784 | |
Allison Transmission Holdings Inc. | 12,466 | 754 | |
* | Mohawk Industries Inc. | 7,407 | 751 |
Sealed Air Corp. | 19,798 | 734 | |
Flowserve Corp. | 18,421 | 729 | |
Acuity Brands Inc. | 4,459 | 719 | |
Valmont Industries Inc. | 2,838 | 719 | |
* | Kirby Corp. | 8,073 | 669 |
Vontier Corp. | 21,257 | 668 | |
Western Union Co. | 52,540 | 649 | |
MSC Industrial Direct Co. Inc. Class A | 6,247 | 638 | |
Ryder System Inc. | 6,242 | 629 | |
* | Affirm Holdings Inc. | 30,073 | 626 |
Crane Co. | 6,691 | 610 | |
* | AZEK Co. Inc. | 17,197 | 585 |
* | Euronet Worldwide Inc. | 6,638 | 580 |
Air Lease Corp. | 14,052 | 573 | |
Esab Corp. | 7,764 | 560 | |
MDU Resources Group Inc. | 27,267 | 555 | |
ManpowerGroup Inc. | 6,945 | 548 | |
Louisiana-Pacific Corp. | 8,725 | 545 | |
Silgan Holdings Inc. | 11,371 | 513 | |
Armstrong World Industries Inc. | 6,256 | 479 | |
* | Shift4 Payments Inc. Class A | 7,408 | 421 |
Crane NXT Co. | 6,832 | 406 | |
* | Core & Main Inc. Class A | 11,958 | 393 |
Spirit AeroSystems Holdings Inc. Class A | 14,835 | 316 | |
* | Hayward Holdings Inc. | 18,965 | 281 |
Shares | Market Value• ($000) | ||
* | Mercury Systems Inc. | 6,674 | 262 |
Schneider National Inc. Class B | 7,929 | 229 | |
* | Gates Industrial Corp. plc | 17,214 | 211 |
ADT Inc. | 28,834 | 185 | |
Ardagh Metal Packaging SA | 20,809 | 75 | |
Ardagh Group SA | 2,011 | 16 | |
741,400 | |||
Real Estate (2.7%) | |||
Prologis Inc. | 128,320 | 15,937 | |
American Tower Corp. | 64,759 | 11,742 | |
Equinix Inc. | 12,984 | 10,145 | |
Crown Castle Inc. | 60,172 | 6,047 | |
Public Storage | 21,797 | 6,024 | |
Welltower Inc. | 69,096 | 5,727 | |
Digital Realty Trust Inc. | 40,409 | 5,323 | |
Realty Income Corp. | 91,894 | 5,150 | |
Simon Property Group Inc. | 45,109 | 5,119 | |
* | CoStar Group Inc. | 56,180 | 4,606 |
VICI Properties Inc. | 139,664 | 4,307 | |
Extra Space Storage Inc. | 29,046 | 3,738 | |
* | CBRE Group Inc. Class A | 43,017 | 3,659 |
AvalonBay Communities Inc. | 19,433 | 3,572 | |
Equity Residential | 51,838 | 3,361 | |
SBA Communications Corp. | 14,926 | 3,351 | |
Weyerhaeuser Co. | 101,812 | 3,334 | |
Invitation Homes Inc. | 84,869 | 2,893 | |
Alexandria Real Estate Equities Inc. | 23,804 | 2,769 | |
Iron Mountain Inc. | 40,191 | 2,554 | |
Ventas Inc. | 55,498 | 2,424 | |
Mid-America Apartment Communities Inc. | 16,113 | 2,340 | |
Essex Property Trust Inc. | 8,832 | 2,105 | |
Sun Communities Inc. | 17,029 | 2,085 | |
WP Carey Inc. | 29,299 | 1,906 | |
UDR Inc. | 45,336 | 1,809 | |
American Homes 4 Rent Class A | 45,869 | 1,653 | |
Gaming and Leisure Properties Inc. | 34,668 | 1,643 | |
Equity LifeStyle Properties Inc. | 24,470 | 1,639 | |
Kimco Realty Corp. | 83,330 | 1,578 | |
Healthpeak Properties Inc. | 76,687 | 1,578 | |
Regency Centers Corp. | 25,292 | 1,573 | |
Camden Property Trust | 14,533 | 1,564 | |
Host Hotels & Resorts Inc. | 97,562 | 1,540 | |
Rexford Industrial Realty Inc. | 28,071 | 1,501 | |
Boston Properties Inc. | 21,746 | 1,452 | |
CubeSmart | 30,734 | 1,282 | |
Americold Realty Trust Inc. | 37,855 | 1,274 | |
* | Jones Lang LaSalle Inc. | 6,648 | 1,149 |
Lamar Advertising Co. Class A | 12,188 | 1,112 | |
Federal Realty Investment Trust | 11,330 | 1,110 | |
EastGroup Properties Inc. | 6,161 | 1,107 | |
* | Zillow Group Inc. Class C | 20,695 | 1,079 |
Omega Healthcare Investors Inc. | 32,838 | 1,045 | |
NNN REIT Inc. | 24,836 | 978 |
Shares | Market Value• ($000) | ||
First Industrial Realty Trust Inc. | 18,459 | 959 | |
Healthcare Realty Trust Inc. | 53,245 | 933 | |
STAG Industrial Inc. | 25,310 | 925 | |
Brixmor Property Group Inc. | 41,933 | 922 | |
Spirit Realty Capital Inc. | 19,478 | 752 | |
Agree Realty Corp. | 12,147 | 751 | |
Apartment Income REIT Corp. | 20,915 | 712 | |
Rayonier Inc. | 20,633 | 617 | |
Kilroy Realty Corp. | 16,619 | 614 | |
Medical Properties Trust Inc. | 83,612 | 604 | |
Vornado Realty Trust | 24,061 | 578 | |
Cousins Properties Inc. | 21,134 | 497 | |
EPR Properties | 10,353 | 464 | |
* | Zillow Group Inc. Class A | 8,441 | 430 |
Park Hotels & Resorts Inc. | 31,055 | 398 | |
* | Howard Hughes Holdings Inc. | 4,835 | 380 |
National Storage Affiliates Trust | 10,889 | 366 | |
Highwoods Properties Inc. | 14,942 | 356 | |
159,142 | |||
Technology (30.8%) | |||
Apple Inc. | 2,076,349 | 390,084 | |
Microsoft Corp. | 1,035,434 | 339,374 | |
NVIDIA Corp. | 330,585 | 163,160 | |
* | Alphabet Inc. Class A | 826,282 | 112,515 |
* | Alphabet Inc. Class C | 717,015 | 98,482 |
* | Meta Platforms Inc. Class A | 307,737 | 91,056 |
Broadcom Inc. | 56,792 | 52,413 | |
* | Adobe Inc. | 63,746 | 35,656 |
* | Salesforce Inc. | 131,685 | 29,163 |
Oracle Corp. | 211,538 | 25,467 | |
* | Advanced Micro Devices Inc. | 223,002 | 23,576 |
Texas Instruments Inc. | 126,351 | 21,235 | |
Intuit Inc. | 38,004 | 20,591 | |
Intel Corp. | 580,839 | 20,411 | |
International Business Machines Corp. | 126,461 | 18,568 | |
Applied Materials Inc. | 117,458 | 17,943 | |
QUALCOMM Inc. | 155,243 | 17,780 | |
* | ServiceNow Inc. | 28,324 | 16,678 |
Lam Research Corp. | 18,665 | 13,110 | |
Analog Devices Inc. | 70,353 | 12,789 | |
Micron Technology Inc. | 152,060 | 10,635 | |
* | Palo Alto Networks Inc. | 41,484 | 10,093 |
* | Synopsys Inc. | 21,131 | 9,697 |
KLA Corp. | 19,089 | 9,580 | |
* | Cadence Design Systems Inc. | 37,602 | 9,041 |
Roper Technologies Inc. | 14,709 | 7,341 | |
Amphenol Corp. Class A | 81,174 | 7,174 | |
Marvell Technology Inc. | 118,828 | 6,922 | |
* | Snowflake Inc. Class A | 43,092 | 6,759 |
* | Workday Inc. Class A | 27,499 | 6,724 |
* | Autodesk Inc. | 29,887 | 6,633 |
Microchip Technology Inc. | 74,822 | 6,123 | |
* | ON Semiconductor Corp. | 59,960 | 5,904 |
* | Fortinet Inc. | 91,335 | 5,499 |
Cognizant Technology Solutions Corp. Class A | 70,681 | 5,061 | |
* | VMware Inc. Class A | 29,928 | 5,051 |
Shares | Market Value• ($000) | ||
* | Crowdstrike Holdings Inc. Class A | 29,256 | 4,770 |
* | Atlassian Corp. Ltd. Class A | 20,113 | 4,104 |
CDW Corp. | 18,803 | 3,970 | |
* | Palantir Technologies Inc. Class A | 260,353 | 3,900 |
* | ANSYS Inc. | 12,065 | 3,847 |
* | Gartner Inc. | 10,686 | 3,737 |
* | Datadog Inc. Class A | 37,949 | 3,661 |
HP Inc. | 120,445 | 3,578 | |
* | DoorDash Inc. Class A | 41,900 | 3,525 |
* | MongoDB Inc. | 9,124 | 3,479 |
Corning Inc. | 105,827 | 3,473 | |
* | HubSpot Inc. | 6,341 | 3,465 |
Monolithic Power Systems Inc. | 6,299 | 3,283 | |
Hewlett Packard Enterprise Co. | 179,865 | 3,056 | |
* | Splunk Inc. | 22,357 | 2,711 |
* | VeriSign Inc. | 12,574 | 2,613 |
* | Cloudflare Inc. Class A | 39,908 | 2,595 |
* | Zoom Video Communications Inc. Class A | 34,291 | 2,436 |
Skyworks Solutions Inc. | 22,051 | 2,398 | |
* | PTC Inc. | 15,923 | 2,343 |
Teradyne Inc. | 21,594 | 2,329 | |
* | Tyler Technologies Inc. | 5,769 | 2,299 |
NetApp Inc. | 29,649 | 2,274 | |
* | Pinterest Inc. Class A | 82,313 | 2,263 |
* | Akamai Technologies Inc. | 21,272 | 2,235 |
Paycom Software Inc. | 7,142 | 2,106 | |
Entegris Inc. | 20,695 | 2,096 | |
Jabil Inc. | 17,902 | 2,048 | |
* | EPAM Systems Inc. | 7,685 | 1,990 |
* | Western Digital Corp. | 44,088 | 1,984 |
Vertiv Holdings Co. | 47,995 | 1,891 | |
* | Zscaler Inc. | 12,059 | 1,882 |
Leidos Holdings Inc. | 18,841 | 1,837 | |
* | Lattice Semiconductor Corp. | 18,817 | 1,830 |
* | Match Group Inc. | 38,476 | 1,803 |
* | Okta Inc. | 21,075 | 1,760 |
* | Manhattan Associates Inc. | 8,506 | 1,724 |
SS&C Technologies Holdings Inc. | 30,008 | 1,723 | |
* | Black Knight Inc. | 21,653 | 1,640 |
Gen Digital Inc. (XNGS) | 77,610 | 1,572 | |
* | GoDaddy Inc. Class A | 21,612 | 1,567 |
* | Ceridian HCM Holding Inc. | 20,697 | 1,501 |
Amdocs Ltd. | 16,664 | 1,486 | |
* | Twilio Inc. Class A | 23,311 | 1,485 |
* | Qorvo Inc. | 13,719 | 1,473 |
* | Unity Software Inc. | 39,698 | 1,472 |
* | Dynatrace Inc. | 30,157 | 1,454 |
* | DocuSign Inc. | 28,391 | 1,428 |
* | Pure Storage Inc. Class A | 38,709 | 1,416 |
* | F5 Inc. | 8,286 | 1,356 |
* | AppLovin Corp. Class A | 31,360 | 1,355 |
Bentley Systems Inc. Class B | 26,969 | 1,346 | |
KBR Inc. | 18,949 | 1,166 | |
* | Globant SA | 5,677 | 1,161 |
* | Toast Inc. Class A | 49,727 | 1,102 |
National Instruments Corp. | 18,364 | 1,095 | |
* | Arrow Electronics Inc. | 8,030 | 1,071 |
Shares | Market Value• ($000) | ||
Universal Display Corp. | 6,559 | 1,066 | |
* | CACI International Inc. Class A | 3,159 | 1,036 |
* | Dropbox Inc. Class A | 36,725 | 1,021 |
* | Nutanix Inc. Class A | 31,458 | 978 |
* | Guidewire Software Inc. | 11,305 | 977 |
Science Applications International Corp. | 7,521 | 885 | |
* | Confluent Inc. Class A | 25,980 | 860 |
* | UiPath Inc. Class A | 52,713 | 833 |
* | Wolfspeed Inc. | 17,398 | 832 |
* | ZoomInfo Technologies Inc. | 43,764 | 789 |
* | Procore Technologies Inc. | 11,087 | 749 |
* | Aspen Technology Inc. | 3,832 | 743 |
* | Smartsheet Inc. Class A | 17,604 | 735 |
* | Five9 Inc. | 9,978 | 722 |
Dolby Laboratories Inc. Class A | 8,116 | 686 | |
* | Elastic NV | 10,919 | 676 |
* | Teradata Corp. | 14,334 | 663 |
Avnet Inc. | 12,745 | 647 | |
* | DXC Technology Co. | 31,203 | 647 |
* | New Relic Inc. | 7,600 | 647 |
* | Coherent Corp. | 16,505 | 621 |
* | Cirrus Logic Inc. | 7,534 | 618 |
*,1 | GLOBALFOUNDRIES Inc. | 11,108 | 614 |
* | IAC Inc. | 10,622 | 588 |
* | DoubleVerify Holdings Inc. | 17,362 | 587 |
TD SYNNEX Corp. | 5,670 | 577 | |
* | NCR Corp. | 18,139 | 558 |
Concentrix Corp. | 6,186 | 494 | |
* | Kyndryl Holdings Inc. | 28,445 | 480 |
* | Clarivate plc | 64,052 | 476 |
* | SentinelOne Inc. Class A | 26,819 | 446 |
* | IPG Photonics Corp. | 4,069 | 441 |
Dun & Bradstreet Holdings Inc. | 37,834 | 412 | |
* | HashiCorp Inc. Class A | 12,634 | 368 |
* | RingCentral Inc. Class A | 11,859 | 367 |
* | Allegro MicroSystems Inc. | 9,443 | 361 |
* | nCino Inc. | 9,762 | 321 |
* | Gitlab Inc. Class A | 6,640 | 315 |
* | CCC Intelligent Solutions Holdings Inc. | 27,375 | 293 |
Pegasystems Inc. | 5,691 | 283 | |
* | Alteryx Inc. Class A | 8,650 | 255 |
* | Paycor HCM Inc. | 8,088 | 190 |
* | Informatica Inc. Class A | 6,408 | 134 |
1,793,443 | |||
Telecommunications (2.3%) | |||
Cisco Systems Inc. | 570,495 | 32,718 | |
Comcast Corp. Class A | 575,441 | 26,908 | |
Verizon Communications Inc. | 585,339 | 20,475 | |
AT&T Inc. | 995,650 | 14,726 | |
* | T-Mobile US Inc. | 75,558 | 10,295 |
* | Arista Networks Inc. | 34,864 | 6,807 |
Motorola Solutions Inc. | 22,989 | 6,519 | |
* | Charter Communications Inc. Class A | 14,263 | 6,249 |
* | Liberty Broadband Corp. Class C | 16,100 | 1,506 |
* | Roku Inc. | 17,295 | 1,404 |
Juniper Networks Inc. | 44,688 | 1,301 | |
* | Ciena Corp. | 20,834 | 1,041 |
Iridium Communications Inc. | 17,481 | 856 |
Shares | Market Value• ($000) | ||
* | Frontier Communications Parent Inc. | 34,760 | 557 |
Cable One Inc. | 777 | 505 | |
* | Lumentum Holdings Inc. | 9,336 | 505 |
* | ViaSat Inc. | 10,035 | 278 |
* | Liberty Broadband Corp. Class A | 2,252 | 211 |
* | DISH Network Corp. Class A | 33,860 | 203 |
Ubiquiti Inc. | 621 | 109 | |
*,2 | GCI Liberty Inc. | 11,885 | — |
133,173 | |||
Utilities (2.6%) | |||
NextEra Energy Inc. | 281,657 | 18,815 | |
Southern Co. | 151,619 | 10,269 | |
Duke Energy Corp. | 107,266 | 9,525 | |
Waste Management Inc. | 56,605 | 8,875 | |
Sempra Energy (XNYS) | 87,604 | 6,152 | |
Dominion Energy Inc. | 116,243 | 5,642 | |
American Electric Power Co. Inc. | 71,686 | 5,620 | |
Exelon Corp. | 138,350 | 5,551 | |
Constellation Energy Corp. | 45,548 | 4,744 | |
Xcel Energy Inc. | 76,535 | 4,372 | |
Consolidated Edison Inc. | 48,297 | 4,297 | |
Public Service Enterprise Group Inc. | 69,300 | 4,233 | |
Republic Services Inc. | 28,747 | 4,143 | |
* | PG&E Corp. | 250,124 | 4,077 |
American Water Works Co. Inc. | 27,085 | 3,758 | |
WEC Energy Group Inc. | 43,850 | 3,689 | |
Edison International | 52,447 | 3,611 | |
Eversource Energy | 48,315 | 3,083 | |
DTE Energy Co. | 28,661 | 2,963 | |
Ameren Corp. | 36,366 | 2,883 | |
Entergy Corp. | 29,358 | 2,796 | |
FirstEnergy Corp. | 75,563 | 2,726 | |
PPL Corp. | 102,439 | 2,553 | |
CenterPoint Energy Inc. | 87,468 | 2,439 | |
Atmos Energy Corp. | 19,974 | 2,316 | |
CMS Energy Corp. | 40,247 | 2,261 | |
Alliant Energy Corp. | 35,184 | 1,765 | |
Evergy Inc. | 30,720 | 1,689 | |
AES Corp. | 93,585 | 1,678 | |
Vistra Corp. | 51,712 | 1,625 | |
NiSource Inc. | 57,866 | 1,549 |
Shares | Market Value• ($000) | ||
Essential Utilities Inc. | 34,013 | 1,255 | |
Pinnacle West Capital Corp. | 15,850 | 1,225 | |
* | Clean Harbors Inc. | 7,193 | 1,218 |
NRG Energy Inc. | 32,379 | 1,216 | |
OGE Energy Corp. | 27,956 | 952 | |
UGI Corp. | 29,405 | 740 | |
IDACORP Inc. | 7,086 | 679 | |
National Fuel Gas Co. | 12,436 | 668 | |
* | Stericycle Inc. | 13,046 | 577 |
Brookfield Renewable Corp. Class A | 18,158 | 508 | |
* | Sunrun Inc. | 28,755 | 449 |
Clearway Energy Inc. Class C | 15,613 | 387 | |
Avangrid Inc. | 9,539 | 329 | |
Hawaiian Electric Industries Inc. | 15,436 | 216 | |
150,118 | |||
Total Common Stocks (Cost $4,251,659) | 5,796,887 | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
3,4 | Vanguard Market Liquidity Fund, 5.384% (Cost $10,364) | 103,671 | 10,366 |
Total Investments (99.9%) (Cost $4,262,023) | 5,807,253 | ||
Other Assets and Liabilities—Net (0.1%) | 6,196 | ||
Net Assets (100%) | 5,813,449 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,859,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
4 | Collateral of $3,022,000 was received for securities on loan. |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2023 | 68 | 15,354 | (105) |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $4,251,659) | 5,796,887 |
Affiliated Issuers (Cost $10,364) | 10,366 |
Total Investments in Securities | 5,807,253 |
Investment in Vanguard | 195 |
Cash Collateral Pledged—Futures Contracts | 770 |
Receivables for Investment Securities Sold | 47 |
Receivables for Accrued Income | 8,612 |
Receivables for Capital Shares Issued | 251 |
Total Assets | 5,817,128 |
Liabilities | |
Due to Custodian | 41 |
Payables for Investment Securities Purchased | 359 |
Collateral for Securities on Loan | 3,022 |
Payables for Capital Shares Redeemed | 37 |
Payables to Vanguard | 192 |
Variation Margin Payable—Futures Contracts | 28 |
Total Liabilities | 3,679 |
Net Assets | 5,813,449 |
1 Includes $2,859,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 4,526,436 |
Total Distributable Earnings (Loss) | 1,287,013 |
Net Assets | 5,813,449 |
ETF Shares—Net Assets | |
Applicable to 18,475,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,784,931 |
Net Asset Value Per Share—ETF Shares | $204.87 |
Institutional Shares—Net Assets | |
Applicable to 5,111,129 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,028,518 |
Net Asset Value Per Share—Institutional Shares | $396.88 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 89,732 |
Interest2 | 364 |
Securities Lending—Net | 650 |
Total Income | 90,746 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 125 |
Management and Administrative—ETF Shares | 2,091 |
Management and Administrative—Institutional Shares | 1,110 |
Marketing and Distribution—ETF Shares | 192 |
Marketing and Distribution—Institutional Shares | 69 |
Custodian Fees | 431 |
Auditing Fees | 28 |
Shareholders’ Reports—ETF Shares | 67 |
Shareholders’ Reports—Institutional Shares | 1 |
Trustees’ Fees and Expenses | 3 |
Other Expenses | 24 |
Total Expenses | 4,141 |
Net Investment Income | 86,605 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 516,264 |
Futures Contracts | 733 |
Realized Net Gain (Loss) | 516,997 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 226,031 |
Futures Contracts | 592 |
Change in Unrealized Appreciation (Depreciation) | 226,623 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 830,225 |
1 | Dividends are net of foreign withholding taxes of $9,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $344,000, $20,000, and $2,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $597,036,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 86,605 | 73,532 |
Realized Net Gain (Loss) | 516,997 | 158,644 |
Change in Unrealized Appreciation (Depreciation) | 226,623 | (956,508) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 830,225 | (724,332) |
Distributions | ||
ETF Shares | (52,340) | (37,346) |
Institutional Shares | (31,653) | (34,230) |
Total Distributions | (83,993) | (71,576) |
Capital Share Transactions | ||
ETF Shares | 562,506 | 455,983 |
Institutional Shares | (389,779) | (268,964) |
Net Increase (Decrease) from Capital Share Transactions | 172,727 | 187,019 |
Total Increase (Decrease) | 918,959 | (608,889) |
Net Assets | ||
Beginning of Period | 4,894,490 | 5,503,379 |
End of Period | 5,813,449 | 4,894,490 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $180.47 | $210.32 | $161.36 | $134.37 | $133.57 |
Investment Operations | |||||
Net Investment Income1 | 2.956 | 2.757 | 2.459 | 2.525 | 2.395 |
Net Realized and Unrealized Gain (Loss) on Investments | 24.306 | (29.909) | 48.925 | 27.028 | .759 |
Total from Investment Operations | 27.262 | (27.152) | 51.384 | 29.553 | 3.154 |
Distributions | |||||
Dividends from Net Investment Income | (2.862) | (2.698) | (2.424) | (2.563) | (2.354) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (2.862) | (2.698) | (2.424) | (2.563) | (2.354) |
Net Asset Value, End of Period | $204.87 | $180.47 | $210.32 | $161.36 | $134.37 |
Total Return | 15.34% | -13.02% | 32.14% | 22.39% | 2.45% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $3,785 | $2,721 | $2,682 | $1,678 | $1,196 |
Ratio of Total Expenses to Average Net Assets | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 1.59% | 1.39% | 1.34% | 1.79% | 1.85% |
Portfolio Turnover Rate2 | 8% | 10% | 6% | 9% | 6% |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $349.62 | $407.44 | $312.59 | $260.26 | $258.75 |
Investment Operations | |||||
Net Investment Income1 | 5.737 | 5.354 | 4.807 | 4.927 | 4.645 |
Net Realized and Unrealized Gain (Loss) on Investments | 47.099 | (57.922) | 94.766 | 52.362 | 1.483 |
Total from Investment Operations | 52.836 | (52.568) | 99.573 | 57.289 | 6.128 |
Distributions | |||||
Dividends from Net Investment Income | (5.576) | (5.252) | (4.723) | (4.959) | (4.618) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (5.576) | (5.252) | (4.723) | (4.959) | (4.618) |
Net Asset Value, End of Period | $396.88 | $349.62 | $407.44 | $312.59 | $260.26 |
Total Return | 15.35% | -13.01% | 32.16% | 22.45% | 2.45% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $2,029 | $2,174 | $2,822 | $2,523 | $2,323 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.60% | 1.39% | 1.36% | 1.81% | 1.86% |
Portfolio Turnover Rate2 | 8% | 10% | 6% | 9% | 6% |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 5,796,871 | 16 | — | 5,796,887 |
Temporary Cash Investments | 10,366 | — | — | 10,366 |
Total | 5,807,237 | 16 | — | 5,807,253 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 105 | — | — | 105 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
D. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions and passive foreign investment companies were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 596,899 |
Total Distributable Earnings (Loss) | (596,899) |
Amount ($000) | |
Undistributed Ordinary Income | 17,672 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 1,509,784 |
Capital Loss Carryforwards | (240,443) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 1,287,013 |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 83,993 | 71,576 |
Long-Term Capital Gains | — | — |
Total | 83,993 | 71,576 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 4,297,469 |
Gross Unrealized Appreciation | 1,818,732 |
Gross Unrealized Depreciation | (308,948) |
Net Unrealized Appreciation (Depreciation) | 1,509,784 |
E. | During the year ended August 31, 2023, the fund purchased $1,793,723,000 of investment securities and sold $1,621,484,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,333,946,000 and $1,104,706,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 1,669,809 | 9,325 | 905,986 | 4,600 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,107,303) | (5,925) | (450,003) | (2,275) | |
Net Increase (Decrease)—ETF Shares | 562,506 | 3,400 | 455,983 | 2,325 |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 419,440 | 1,152 | 475,942 | 1,253 | |
Issued in Lieu of Cash Distributions | 28,506 | 82 | 32,013 | 83 | |
Redeemed | (837,725) | (2,341) | (776,919) | (2,044) | |
Net Increase (Decrease)—Institutional Shares | (389,779) | (1,107) | (268,964) | (708) |
G. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
H. | Management has determined that no events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Russell 1000 Value Index Fund ETF Shares Net Asset Value | 8.55% | 7.04% | 9.03% | $23,749 | |
Russell 1000 Value Index Fund ETF Shares Market Price | 8.60 | 7.04 | 9.04 | 23,758 | |
Russell 1000 Value Index | 8.59 | 7.11 | 9.15 | 23,993 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Russell 1000 Value Index Fund Institutional Shares | 8.55% | 7.06% | 9.07% | $11,912,103 | |
Russell 1000 Value Index | 8.59 | 7.11 | 9.15 | 11,996,619 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 15,730,560 |
One Year | Five Years | Ten Years | |
Russell 1000 Value Index Fund ETF Shares Market Price | 8.60% | 40.50% | 137.58% |
Russell 1000 Value Index Fund ETF Shares Net Asset Value | 8.55 | 40.50 | 137.49 |
Russell 1000 Value Index | 8.59 | 40.98 | 139.93 |
Basic Materials | 3.6% |
Consumer Discretionary | 9.0 |
Consumer Staples | 7.7 |
Energy | 8.7 |
Financials | 18.9 |
Health Care | 14.7 |
Industrials | 15.4 |
Real Estate | 4.9 |
Technology | 7.7 |
Telecommunications | 4.2 |
Utilities | 5.2 |
Shares | Market Value• ($000) | ||
Common Stocks (99.8%) | |||
Basic Materials (3.6%) | |||
Linde plc | 185,842 | 71,928 | |
Air Products and Chemicals Inc. | 92,859 | 27,439 | |
Freeport-McMoRan Inc. | 598,144 | 23,872 | |
Nucor Corp. | 105,400 | 18,139 | |
Dow Inc. | 296,297 | 16,166 | |
Newmont Corp. | 333,126 | 13,132 | |
LyondellBasell Industries NV Class A | 108,524 | 10,719 | |
Albemarle Corp. | 48,981 | 9,733 | |
International Flavors & Fragrances Inc. | 106,322 | 7,490 | |
Steel Dynamics Inc. | 66,790 | 7,119 | |
Reliance Steel & Aluminum Co. | 24,285 | 6,920 | |
CF Industries Holdings Inc. | 81,161 | 6,255 | |
Mosaic Co. | 139,060 | 5,403 | |
Celanese Corp. | 40,918 | 5,170 | |
International Paper Co. | 145,474 | 5,080 | |
Avery Dennison Corp. | 22,794 | 4,294 | |
Ecolab Inc. | 23,274 | 4,278 | |
Eastman Chemical Co. | 48,963 | 4,162 | |
FMC Corp. | 43,850 | 3,781 | |
Fastenal Co. | 59,043 | 3,400 | |
* | Cleveland-Cliffs Inc. | 214,597 | 3,281 |
Olin Corp. | 54,369 | 3,155 | |
Royal Gold Inc. | 27,575 | 3,091 | |
United States Steel Corp. | 94,602 | 2,941 | |
* | RBC Bearings Inc. | 11,940 | 2,753 |
Hexcel Corp. | 34,460 | 2,526 | |
Alcoa Corp. | 74,804 | 2,250 | |
Chemours Co. | 62,503 | 2,126 | |
Huntsman Corp. | 73,440 | 2,047 | |
Timken Co. | 26,325 | 2,012 | |
Element Solutions Inc. | 93,886 | 1,936 | |
Valvoline Inc. | 53,113 | 1,829 | |
Ashland Inc. | 21,076 | 1,826 | |
Westlake Corp. | 13,625 | 1,785 | |
SSR Mining Inc. (XTSE) | 86,664 | 1,287 | |
NewMarket Corp. | 2,628 | 1,234 | |
* | MP Materials Corp. | 43,739 | 916 |
291,475 | |||
Consumer Discretionary (9.0%) | |||
Walmart Inc. | 597,333 | 97,132 | |
* | Walt Disney Co. | 763,880 | 63,921 |
McDonald's Corp. | 179,025 | 50,333 |
Shares | Market Value• ($000) | ||
Activision Blizzard Inc. | 326,184 | 30,006 | |
NIKE Inc. Class B | 232,682 | 23,666 | |
Ford Motor Co. | 1,638,081 | 19,870 | |
General Motors Co. | 577,694 | 19,359 | |
DR Horton Inc. | 130,430 | 15,524 | |
Lowe's Cos. Inc. | 66,719 | 15,377 | |
Electronic Arts Inc. | 114,595 | 13,749 | |
Lennar Corp. Class A | 104,718 | 12,471 | |
* | Warner Bros Discovery Inc. | 921,892 | 12,114 |
* | Aptiv plc | 113,346 | 11,499 |
Delta Air Lines Inc. | 255,404 | 10,952 | |
* | Dollar Tree Inc. | 87,293 | 10,681 |
Estee Lauder Cos. Inc. Class A | 65,866 | 10,573 | |
* | Take-Two Interactive Software Inc. | 68,785 | 9,781 |
eBay Inc. | 209,081 | 9,363 | |
Genuine Parts Co. | 58,809 | 9,041 | |
Hilton Worldwide Holdings Inc. | 58,264 | 8,661 | |
Southwest Airlines Co. | 247,806 | 7,831 | |
PulteGroup Inc. | 92,293 | 7,574 | |
* | NVR Inc. | 1,106 | 7,053 |
Garmin Ltd. | 63,892 | 6,774 | |
* | United Airlines Holdings Inc. | 135,936 | 6,771 |
* | Royal Caribbean Cruises Ltd. | 68,100 | 6,738 |
Omnicom Group Inc. | 82,149 | 6,655 | |
* | Carnival Corp. | 414,031 | 6,550 |
LKQ Corp. | 111,670 | 5,866 | |
* | Liberty Media Corp.-Liberty Formula One Class C | 84,861 | 5,838 |
MGM Resorts International | 124,337 | 5,468 | |
Best Buy Co. Inc. | 70,484 | 5,388 | |
Interpublic Group of Cos. Inc. | 160,028 | 5,218 | |
* | CarMax Inc. | 62,460 | 5,102 |
* | Rivian Automotive Inc. Class A | 217,207 | 4,937 |
* | Live Nation Entertainment Inc. | 50,978 | 4,309 |
Darden Restaurants Inc. | 26,576 | 4,133 | |
Wynn Resorts Ltd. | 40,311 | 4,087 | |
Fox Corp. Class A | 123,052 | 4,068 | |
Hasbro Inc. | 54,953 | 3,957 | |
BorgWarner Inc. (XNYS) | 96,378 | 3,927 | |
Toll Brothers Inc. | 45,924 | 3,763 | |
1 | Paramount Global Inc. Class B | 246,433 | 3,719 |
Shares | Market Value• ($000) | ||
Aramark | 96,787 | 3,599 | |
News Corp. Class A | 166,788 | 3,584 | |
* | O'Reilly Automotive Inc. | 3,807 | 3,577 |
Bath & Body Works Inc. | 96,414 | 3,555 | |
Lithia Motors Inc. | 11,330 | 3,490 | |
Lear Corp. | 24,141 | 3,478 | |
Williams-Sonoma Inc. | 23,848 | 3,367 | |
Vail Resorts Inc. | 14,752 | 3,339 | |
* | Mattel Inc. | 147,939 | 3,278 |
Gentex Corp. | 98,569 | 3,219 | |
* | AutoZone Inc. | 1,243 | 3,146 |
Whirlpool Corp. | 22,016 | 3,081 | |
Tapestry Inc. | 90,871 | 3,028 | |
New York Times Co. Class A | 68,050 | 3,013 | |
VF Corp. | 146,925 | 2,903 | |
* | Caesars Entertainment Inc. | 51,173 | 2,828 |
Dick's Sporting Goods Inc. | 23,394 | 2,722 | |
* | Capri Holdings Ltd. | 51,406 | 2,698 |
* | Skechers USA Inc. Class A | 52,796 | 2,656 |
Tempur Sealy International Inc. | 55,944 | 2,614 | |
* | American Airlines Group Inc. | 172,422 | 2,540 |
Service Corp. International | 39,796 | 2,512 | |
Wyndham Hotels & Resorts Inc. | 32,825 | 2,475 | |
* | BJ's Wholesale Club Holdings Inc. | 36,593 | 2,466 |
Polaris Inc. | 20,605 | 2,310 | |
Thor Industries Inc. | 21,580 | 2,262 | |
* | Norwegian Cruise Line Holdings Ltd. | 135,012 | 2,237 |
* | Alaska Air Group Inc. | 52,544 | 2,205 |
Hyatt Hotels Corp. Class A | 19,532 | 2,196 | |
PVH Corp. | 26,248 | 2,194 | |
* | SiteOne Landscape Supply Inc. | 12,711 | 2,176 |
*,1 | GameStop Corp. Class A | 112,628 | 2,089 |
* | RH | 5,691 | 2,078 |
Boyd Gaming Corp. | 30,928 | 2,068 | |
* | AutoNation Inc. | 12,826 | 2,015 |
* | Bright Horizons Family Solutions Inc. | 21,177 | 2,000 |
Ralph Lauren Corp. | 17,097 | 1,994 | |
*,1 | Lucid Group Inc. | 313,334 | 1,968 |
Yum! Brands Inc. | 14,387 | 1,861 | |
Harley-Davidson Inc. | 55,098 | 1,860 | |
* | Coty Inc. Class A | 151,667 | 1,753 |
* | Expedia Group Inc. | 16,151 | 1,751 |
Newell Brands Inc. | 159,940 | 1,692 | |
Advance Auto Parts Inc. | 24,249 | 1,669 | |
* | Etsy Inc. | 22,678 | 1,668 |
* | Liberty Media Corp. - Liberty SiriusXM Class C | 68,221 | 1,667 |
Marriott Vacations Worldwide Corp. | 15,321 | 1,665 | |
Fox Corp. Class B | 53,820 | 1,643 | |
Leggett & Platt Inc. | 55,683 | 1,570 | |
* | Wayfair Inc. Class A | 22,514 | 1,556 |
Nexstar Media Group Inc. | 9,443 | 1,537 | |
* | Penn Entertainment Inc. | 64,491 | 1,528 |
Madison Square Garden Sports Corp. | 7,840 | 1,396 | |
Macy's Inc. | 113,700 | 1,391 | |
Penske Automotive Group Inc. | 8,443 | 1,387 |
Shares | Market Value• ($000) | ||
* | Ollie's Bargain Outlet Holdings Inc. | 17,606 | 1,357 |
Kohl's Corp. | 46,438 | 1,237 | |
* | Avis Budget Group Inc. | 5,620 | 1,199 |
1 | Sirius XM Holdings Inc. | 270,995 | 1,192 |
Ross Stores Inc. | 9,421 | 1,148 | |
* | Planet Fitness Inc. Class A | 18,750 | 1,140 |
U-Haul Holding Co. | 21,173 | 1,127 | |
RB Global Inc. | 17,964 | 1,109 | |
Carter's Inc. | 15,388 | 1,101 | |
Columbia Sportswear Co. | 14,926 | 1,095 | |
* | Grand Canyon Education Inc. | 9,160 | 1,074 |
* | Hertz Global Holdings Inc. | 56,587 | 959 |
Gap Inc. | 81,606 | 945 | |
News Corp. Class B | 41,746 | 918 | |
H&R Block Inc. | 22,544 | 901 | |
* | QuantumScape Corp. | 119,933 | 856 |
Nordstrom Inc. | 47,952 | 778 | |
* | Under Armour Inc. Class A | 98,332 | 751 |
* | Liberty Media Corp.-Liberty Live Class C | 20,679 | 696 |
Travel & Leisure Co. | 17,124 | 688 | |
* | TripAdvisor Inc. | 44,721 | 676 |
* | Liberty Media Corp.-Liberty SiriusXM Class A | 25,212 | 606 |
Lennar Corp. Class B | 5,257 | 561 | |
* | Phinia Inc. | 19,597 | 545 |
Las Vegas Sands Corp. | 9,456 | 519 | |
* | Under Armour Inc. Class C | 56,851 | 392 |
* | Driven Brands Holdings Inc. | 24,342 | 366 |
* | Victoria's Secret & Co. | 18,213 | 349 |
* | Liberty Media Corp.-Liberty Formula One Class A | 5,558 | 337 |
*,1 | AMC Entertainment Holdings Inc. Class A | 24,727 | 310 |
* | Mister Car Wash Inc. | 31,603 | 229 |
* | Liberty Media Corp.-Liberty Live Class A | 6,552 | 218 |
* | Petco Health & Wellness Co. Inc. | 29,074 | 148 |
Murphy USA Inc. | 420 | 133 | |
1 | U-Haul Holding Co. (XNYS) | 2,104 | 120 |
736,133 | |||
Consumer Staples (7.6%) | |||
Procter & Gamble Co. | 799,879 | 123,453 | |
Philip Morris International Inc. | 648,647 | 62,309 | |
Coca-Cola Co. | 821,130 | 49,128 | |
Mondelez International Inc. Class A | 568,070 | 40,481 | |
CVS Health Corp. | 534,528 | 34,835 | |
Altria Group Inc. | 746,147 | 32,995 | |
PepsiCo Inc. | 177,973 | 31,665 | |
Colgate-Palmolive Co. | 343,618 | 25,246 | |
Archer-Daniels-Midland Co. | 226,885 | 17,992 | |
General Mills Inc. | 246,036 | 16,647 | |
Corteva Inc. | 298,338 | 15,069 | |
Constellation Brands Inc. Class A | 57,412 | 14,959 | |
McKesson Corp. | 35,520 | 14,646 | |
Keurig Dr Pepper Inc. | 397,802 | 13,386 | |
Kroger Co. | 273,207 | 12,674 | |
Kraft Heinz Co. | 335,627 | 11,106 | |
Kenvue Inc. | 424,919 | 9,794 | |
McCormick & Co. Inc. | 104,811 | 8,603 |
Shares | Market Value• ($000) | ||
Walgreens Boots Alliance Inc. | 298,005 | 7,543 | |
Bunge Ltd. | 62,639 | 7,161 | |
Kellogg Co. | 107,983 | 6,589 | |
Tyson Foods Inc. Class A | 116,611 | 6,212 | |
J M Smucker Co. | 42,762 | 6,198 | |
Conagra Brands Inc. | 196,647 | 5,876 | |
Hormel Foods Corp. | 121,587 | 4,692 | |
Molson Coors Beverage Co. Class B | 73,559 | 4,670 | |
* | Darling Ingredients Inc. | 66,636 | 4,115 |
* | US Foods Holding Corp. | 93,439 | 3,778 |
Albertsons Cos. Inc. Class A | 160,178 | 3,588 | |
Hershey Co. | 15,935 | 3,424 | |
Campbell Soup Co. | 80,467 | 3,355 | |
Casey's General Stores Inc. | 13,415 | 3,279 | |
Ingredion Inc. | 27,734 | 2,854 | |
* | Performance Food Group Co. | 34,106 | 2,119 |
* | Post Holdings Inc. | 22,486 | 2,017 |
Flowers Foods Inc. | 78,910 | 1,859 | |
Spectrum Brands Holdings Inc. | 16,923 | 1,408 | |
* | Grocery Outlet Holding Corp. | 38,058 | 1,174 |
Brown-Forman Corp. Class B | 17,086 | 1,130 | |
Kimberly-Clark Corp. | 8,410 | 1,083 | |
* | Freshpet Inc. | 13,921 | 1,051 |
Church & Dwight Co. Inc. | 10,613 | 1,027 | |
Reynolds Consumer Products Inc. | 22,326 | 609 | |
* | Pilgrim's Pride Corp. | 17,275 | 435 |
Seaboard Corp. | 110 | 415 | |
Lamb Weston Holdings Inc. | 3,341 | 325 | |
Brown-Forman Corp. Class A | 3,019 | 203 | |
* | Olaplex Holdings Inc. | 55,055 | 149 |
* | Boston Beer Co. Inc. Class A | 237 | 87 |
623,413 | |||
Energy (8.7%) | |||
Exxon Mobil Corp. | 1,698,588 | 188,866 | |
Chevron Corp. | 739,868 | 119,193 | |
ConocoPhillips | 506,638 | 60,305 | |
Schlumberger NV | 594,305 | 35,040 | |
EOG Resources Inc. | 246,038 | 31,645 | |
Marathon Petroleum Corp. | 184,268 | 26,308 | |
Pioneer Natural Resources Co. | 97,289 | 23,148 | |
Phillips 66 | 192,918 | 22,023 | |
Valero Energy Corp. | 150,868 | 19,598 | |
Occidental Petroleum Corp. | 291,979 | 18,333 | |
Williams Cos. Inc. | 509,836 | 17,605 | |
Baker Hughes Co. | 423,849 | 15,339 | |
Kinder Morgan Inc. | 817,176 | 14,072 | |
Devon Energy Corp. | 265,702 | 13,575 | |
Halliburton Co. | 299,731 | 11,576 | |
Diamondback Energy Inc. | 75,786 | 11,503 | |
ONEOK Inc. | 176,021 | 11,477 | |
Coterra Energy Inc. | 315,385 | 8,891 | |
* | First Solar Inc. | 44,402 | 8,397 |
Hess Corp. | 51,340 | 7,932 | |
Marathon Oil Corp. | 257,961 | 6,797 | |
EQT Corp. | 151,536 | 6,549 |
Shares | Market Value• ($000) | ||
Chesapeake Energy Corp. | 53,341 | 4,705 | |
TechnipFMC plc | 184,510 | 3,513 | |
NOV Inc. | 165,046 | 3,487 | |
* | Antero Resources Corp. | 118,905 | 3,290 |
HF Sinclair Corp. | 59,400 | 3,272 | |
Range Resources Corp. | 98,462 | 3,188 | |
* | Southwestern Energy Co. | 460,867 | 3,125 |
Ovintiv Inc. (XNYS) | 56,833 | 2,669 | |
DTE Midstream LLC | 40,788 | 2,133 | |
*,1 | Plug Power Inc. | 218,522 | 1,849 |
Antero Midstream Corp. | 94,769 | 1,149 | |
APA Corp. | 14,906 | 653 | |
711,205 | |||
Financials (18.9%) | |||
* | Berkshire Hathaway Inc. Class B | 765,910 | 275,881 |
JPMorgan Chase & Co. | 1,222,835 | 178,937 | |
Bank of America Corp. | 2,911,663 | 83,477 | |
Wells Fargo & Co. | 1,580,070 | 65,241 | |
S&P Global Inc. | 123,116 | 48,121 | |
Goldman Sachs Group Inc. | 134,884 | 44,203 | |
BlackRock Inc. | 62,208 | 43,579 | |
Morgan Stanley | 502,176 | 42,760 | |
Charles Schwab Corp. | 619,182 | 36,625 | |
Chubb Ltd. | 172,103 | 34,570 | |
Citigroup Inc. | 812,787 | 33,560 | |
CME Group Inc. | 149,908 | 30,383 | |
Aon plc Class A (XNYS) | 84,613 | 28,209 | |
Intercontinental Exchange Inc. | 231,925 | 27,365 | |
US Bancorp | 641,603 | 23,438 | |
PNC Financial Services Group Inc. | 165,918 | 20,031 | |
Arthur J Gallagher & Co. | 83,613 | 19,271 | |
Aflac Inc. | 251,916 | 18,785 | |
American International Group Inc. | 306,495 | 17,936 | |
MetLife Inc. | 270,645 | 17,143 | |
Truist Financial Corp. | 554,243 | 16,932 | |
Travelers Cos. Inc. | 96,519 | 15,562 | |
Bank of New York Mellon Corp. | 330,704 | 14,839 | |
Prudential Financial Inc. | 153,598 | 14,541 | |
KKR & Co. Inc. | 204,006 | 12,814 | |
Allstate Corp. | 109,528 | 11,808 | |
T Rowe Price Group Inc. | 92,528 | 10,384 | |
* | Arch Capital Group Ltd. | 128,193 | 9,853 |
Discover Financial Services | 106,153 | 9,561 | |
State Street Corp. | 139,003 | 9,555 | |
Hartford Financial Services Group Inc. | 127,898 | 9,186 | |
MSCI Inc. | 16,234 | 8,825 | |
M&T Bank Corp. | 68,987 | 8,627 | |
Raymond James Financial Inc. | 81,412 | 8,515 | |
Progressive Corp. | 61,085 | 8,153 | |
* | Markel Group Inc. | 5,498 | 8,131 |
Marsh & McLennan Cos. Inc. | 41,065 | 8,007 | |
Willis Towers Watson plc | 38,724 | 8,007 | |
Principal Financial Group Inc. | 100,664 | 7,823 | |
Nasdaq Inc. | 143,205 | 7,515 | |
Fifth Third Bancorp | 282,115 | 7,490 | |
Regions Financial Corp. | 387,888 | 7,114 | |
Cincinnati Financial Corp. | 64,253 | 6,797 |
Shares | Market Value• ($000) | ||
Huntington Bancshares Inc. | 597,593 | 6,627 | |
Cboe Global Markets Inc. | 43,601 | 6,527 | |
Northern Trust Corp. | 85,679 | 6,518 | |
Citizens Financial Group Inc. | 200,015 | 5,626 | |
Everest Group Ltd. | 15,370 | 5,544 | |
* | Coinbase Global Inc. Class A | 69,198 | 5,508 |
W R Berkley Corp. | 89,023 | 5,507 | |
First Citizens BancShares Inc. Class A | 3,974 | 5,406 | |
Loews Corp. | 78,293 | 4,861 | |
Fidelity National Financial Inc. | 108,846 | 4,506 | |
Brown & Brown Inc. | 59,605 | 4,417 | |
KeyCorp | 389,488 | 4,413 | |
Annaly Capital Management Inc. | 207,713 | 4,210 | |
Globe Life Inc. | 36,608 | 4,084 | |
Unum Group | 82,679 | 4,067 | |
Reinsurance Group of America Inc. | 27,983 | 3,879 | |
Interactive Brokers Group Inc. Class A | 41,928 | 3,819 | |
New York Community Bancorp Inc. | 299,041 | 3,672 | |
American Financial Group Inc. | 30,609 | 3,548 | |
* | SoFi Technologies Inc. | 380,123 | 3,292 |
East West Bancorp Inc. | 59,013 | 3,266 | |
* | XP Inc. Class A | 128,085 | 3,246 |
Franklin Resources Inc. | 119,760 | 3,202 | |
Ally Financial Inc. | 113,679 | 3,148 | |
Old Republic International Corp. | 114,212 | 3,124 | |
Assurant Inc. | 22,268 | 3,103 | |
Webster Financial Corp. | 72,574 | 3,078 | |
* | Robinhood Markets Inc. Class A | 279,204 | 3,041 |
Jefferies Financial Group Inc. | 84,505 | 3,016 | |
RenaissanceRe Holdings Ltd. | 15,152 | 2,847 | |
First Horizon Corp. | 224,682 | 2,820 | |
Stifel Financial Corp. | 43,142 | 2,805 | |
Voya Financial Inc. | 40,098 | 2,794 | |
Carlyle Group Inc. | 86,293 | 2,792 | |
Tradeweb Markets Inc. Class A | 31,543 | 2,726 | |
Comerica Inc. | 55,373 | 2,664 | |
SEI Investments Co. | 42,730 | 2,652 | |
First American Financial Corp. | 42,146 | 2,600 | |
1 | Starwood Property Trust Inc. | 123,864 | 2,531 |
Invesco Ltd. | 151,391 | 2,410 | |
AGNC Investment Corp. | 241,121 | 2,390 | |
Commerce Bancshares Inc. | 47,999 | 2,356 | |
Cullen/Frost Bankers Inc. | 24,903 | 2,354 | |
Western Alliance Bancorp | 45,510 | 2,276 | |
Zions Bancorp NA | 61,200 | 2,173 | |
MGIC Investment Corp. | 120,942 | 2,126 | |
Pinnacle Financial Partners Inc. | 31,658 | 2,107 | |
Evercore Inc. Class A | 14,951 | 2,094 | |
Prosperity Bancshares Inc. | 36,601 | 2,079 |
Shares | Market Value• ($000) | ||
Houlihan Lokey Inc. | 19,336 | 2,037 | |
Rithm Capital Corp. | 196,517 | 2,026 | |
Popular Inc. | 29,542 | 2,017 | |
Affiliated Managers Group Inc. | 14,942 | 2,002 | |
Wintrust Financial Corp. | 25,512 | 1,980 | |
Moody's Corp. | 5,859 | 1,973 | |
OneMain Holdings Inc. | 46,673 | 1,937 | |
Blue Owl Capital Inc. | 159,934 | 1,911 | |
Synovus Financial Corp. | 60,818 | 1,883 | |
Bank OZK | 46,347 | 1,862 | |
Axis Capital Holdings Ltd. | 32,670 | 1,792 | |
Columbia Banking System Inc. | 87,473 | 1,791 | |
FNB Corp. | 150,090 | 1,746 | |
RLI Corp. | 13,192 | 1,735 | |
Lincoln National Corp. | 65,207 | 1,673 | |
Lazard Ltd. Class A | 46,052 | 1,600 | |
White Mountains Insurance Group Ltd. | 1,007 | 1,600 | |
Hanover Insurance Group Inc. | 14,897 | 1,590 | |
Janus Henderson Group plc | 56,265 | 1,546 | |
Broadridge Financial Solutions Inc. | 8,133 | 1,514 | |
Assured Guaranty Ltd. | 23,838 | 1,403 | |
* | Credit Acceptance Corp. | 2,535 | 1,272 |
* | Brighthouse Financial Inc. | 25,139 | 1,248 |
Kemper Corp. | 25,266 | 1,187 | |
Corebridge Financial Inc. | 62,146 | 1,108 | |
Primerica Inc. | 5,342 | 1,074 | |
First Hawaiian Inc. | 53,333 | 1,009 | |
BOK Financial Corp. | 11,944 | 993 | |
SLM Corp. | 61,237 | 872 | |
Virtu Financial Inc. Class A | 37,269 | 698 | |
TPG Inc. | 19,151 | 539 | |
CNA Financial Corp. | 10,877 | 428 | |
* | Rocket Cos. Inc. Class A | 33,823 | 361 |
TFS Financial Corp. | 21,381 | 291 | |
UWM Holdings Corp. | 25,005 | 149 | |
1,542,252 | |||
Health Care (14.7%) | |||
Johnson & Johnson | 1,007,953 | 162,966 | |
Merck & Co. Inc. | 866,905 | 94,475 | |
Pfizer Inc. | 2,362,424 | 83,583 | |
Danaher Corp. | 275,058 | 72,890 | |
Abbott Laboratories | 678,227 | 69,790 | |
Bristol-Myers Squibb Co. | 878,959 | 54,188 | |
Medtronic plc | 555,311 | 45,258 | |
Gilead Sciences Inc. | 522,320 | 39,947 | |
Elevance Health Inc. | 86,031 | 38,027 | |
Thermo Fisher Scientific Inc. | 62,045 | 34,565 | |
* | Regeneron Pharmaceuticals Inc. | 40,352 | 33,350 |
Becton Dickinson & Co. | 118,669 | 33,162 | |
* | Boston Scientific Corp. | 600,195 | 32,374 |
Stryker Corp. | 110,757 | 31,405 | |
Cigna Group | 113,197 | 31,272 | |
UnitedHealth Group Inc. | 61,877 | 29,489 | |
HCA Healthcare Inc. | 67,969 | 18,848 | |
Amgen Inc. | 71,574 | 18,347 | |
* | Biogen Inc. | 60,308 | 16,124 |
* | Moderna Inc. | 140,713 | 15,910 |
* | Centene Corp. | 229,385 | 14,142 |
Humana Inc. | 29,579 | 13,655 |
Shares | Market Value• ($000) | ||
GE Healthcare Inc. | 150,839 | 10,627 | |
Zimmer Biomet Holdings Inc. | 87,488 | 10,422 | |
STERIS plc | 41,365 | 9,497 | |
Baxter International Inc. | 210,816 | 8,559 | |
Laboratory Corp. of America Holdings | 36,843 | 7,667 | |
* | Illumina Inc. | 46,186 | 7,631 |
* | Hologic Inc. | 101,212 | 7,565 |
* | ICON plc | 29,052 | 7,552 |
Cooper Cos. Inc. | 20,325 | 7,520 | |
* | BioMarin Pharmaceutical Inc. | 69,220 | 6,325 |
Revvity Inc. | 52,935 | 6,195 | |
Quest Diagnostics Inc. | 47,056 | 6,188 | |
* | Avantor Inc. | 279,335 | 6,048 |
Viatris Inc. | 502,058 | 5,397 | |
Cardinal Health Inc. | 52,947 | 4,624 | |
Royalty Pharma plc Class A | 153,451 | 4,576 | |
* | QIAGEN NV | 95,668 | 4,352 |
* | Charles River Laboratories International Inc. | 21,015 | 4,346 |
* | United Therapeutics Corp. | 18,957 | 4,253 |
Teleflex Inc. | 19,408 | 4,129 | |
* | Henry Schein Inc. | 53,836 | 4,121 |
* | Exact Sciences Corp. | 48,153 | 4,029 |
* | Catalent Inc. | 75,631 | 3,779 |
* | Bio-Rad Laboratories Inc. Class A | 8,647 | 3,461 |
* | Molina Healthcare Inc. | 11,039 | 3,423 |
Universal Health Services Inc. Class B | 24,907 | 3,355 | |
DENTSPLY SIRONA Inc. | 88,959 | 3,299 | |
* | Tenet Healthcare Corp. | 41,483 | 3,217 |
* | Vertex Pharmaceuticals Inc. | 9,218 | 3,211 |
* | Acadia Healthcare Co. Inc. | 37,701 | 2,907 |
Agilent Technologies Inc. | 23,254 | 2,815 | |
Encompass Health Corp. | 39,003 | 2,771 | |
* | Elanco Animal Health Inc. (XNYS) | 201,833 | 2,462 |
Organon & Co. | 107,396 | 2,358 | |
* | Repligen Corp. | 13,059 | 2,271 |
* | Envista Holdings Corp. | 68,881 | 2,206 |
* | Alnylam Pharmaceuticals Inc. | 10,239 | 2,025 |
Perrigo Co. plc | 56,642 | 1,982 | |
* | Globus Medical Inc. Class A | 35,488 | 1,920 |
* | QuidelOrtho Corp. | 22,585 | 1,860 |
* | Syneos Health Inc. | 43,360 | 1,853 |
* | Jazz Pharmaceuticals plc | 12,385 | 1,775 |
* | Azenta Inc. | 28,633 | 1,616 |
* | Teladoc Health Inc. | 63,320 | 1,434 |
*,1 | Ginkgo Bioworks Holdings Inc. | 587,023 | 1,374 |
* | Incyte Corp. | 20,286 | 1,309 |
* | Integra LifeSciences Holdings Corp. | 29,992 | 1,276 |
* | Amedisys Inc. | 13,481 | 1,264 |
* | IQVIA Holdings Inc. | 5,657 | 1,259 |
* | Enovis Corp. | 22,068 | 1,237 |
* | ICU Medical Inc. | 8,523 | 1,236 |
* | Horizon Therapeutics plc | 10,889 | 1,228 |
* | R1 RCM Inc. | 64,333 | 1,109 |
Premier Inc. Class A | 49,820 | 1,073 | |
* | Fortrea Holdings Inc. | 37,222 | 1,025 |
Chemed Corp. | 1,745 | 892 | |
* | Exelixis Inc. | 35,319 | 791 |
Shares | Market Value• ($000) | ||
* | Mirati Therapeutics Inc. | 18,598 | 692 |
* | Tandem Diabetes Care Inc. | 23,441 | 641 |
* | Doximity Inc. Class A | 25,017 | 596 |
* | Certara Inc. | 32,161 | 520 |
* | Ionis Pharmaceuticals Inc. | 8,335 | 336 |
Bio-Techne Corp. | 3,655 | 287 | |
* | agilon health Inc. | 12,567 | 223 |
* | Karuna Therapeutics Inc. | ��1,099 | 206 |
* | Maravai LifeSciences Holdings Inc. Class A | 19,446 | 201 |
* | Sotera Health Co. | 12,402 | 200 |
* | Roivant Sciences Ltd. | 8,367 | 97 |
1,200,462 | |||
Industrials (15.4%) | |||
RTX Corp. | 610,806 | 52,554 | |
General Electric Co. | 452,967 | 51,847 | |
Honeywell International Inc. | 242,135 | 45,507 | |
* | Boeing Co. | 201,385 | 45,116 |
Eaton Corp. plc | 166,255 | 38,300 | |
United Parcel Service Inc. Class B (XNYS) | 218,713 | 37,050 | |
Union Pacific Corp. | 145,967 | 32,196 | |
American Express Co. | 166,550 | 26,313 | |
FedEx Corp. | 96,981 | 25,314 | |
3M Co. | 230,219 | 24,557 | |
Northrop Grumman Corp. | 56,410 | 24,431 | |
Emerson Electric Co. | 238,211 | 23,404 | |
General Dynamics Corp. | 102,504 | 23,232 | |
CSX Corp. | 755,384 | 22,813 | |
* | Fiserv Inc. | 186,113 | 22,592 |
Parker-Hannifin Corp. | 53,485 | 22,298 | |
Norfolk Southern Corp. | 95,063 | 19,489 | |
PACCAR Inc. | 213,834 | 17,596 | |
TransDigm Group Inc. | 18,256 | 16,501 | |
Capital One Financial Corp. | 158,719 | 16,251 | |
Carrier Global Corp. | 278,821 | 16,018 | |
AMETEK Inc. | 96,180 | 15,342 | |
Caterpillar Inc. | 54,051 | 15,195 | |
DuPont de Nemours Inc. | 192,188 | 14,777 | |
Johnson Controls International plc | 239,700 | 14,157 | |
L3Harris Technologies Inc. | 79,141 | 14,094 | |
Otis Worldwide Corp. | 162,995 | 13,944 | |
Global Payments Inc. | 109,589 | 13,884 | |
Fidelity National Information Services Inc. | 246,986 | 13,797 | |
Trane Technologies plc | 67,041 | 13,761 | |
Cummins Inc. | 59,395 | 13,663 | |
Ferguson plc | 81,684 | 13,197 | |
Ingersoll Rand Inc. (XYNS) | 169,313 | 11,786 | |
Fortive Corp. | 148,048 | 11,674 | |
Martin Marietta Materials Inc. | 25,843 | 11,537 | |
United Rentals Inc. | 22,716 | 10,825 | |
PPG Industries Inc. | 73,659 | 10,442 | |
Vulcan Materials Co. | 42,656 | 9,310 | |
Quanta Services Inc. | 44,134 | 9,262 | |
Xylem Inc. | 87,166 | 9,025 | |
Dover Corp. | 58,420 | 8,664 | |
Westinghouse Air Brake Technologies Corp. | 74,695 | 8,405 | |
* | Block Inc. (XNYS) | 141,815 | 8,176 |
* | Teledyne Technologies Inc. | 19,525 | 8,167 |
Howmet Aerospace Inc. | 159,047 | 7,868 | |
* | Builders FirstSource Inc. | 52,931 | 7,677 |
* | Keysight Technologies Inc. | 54,860 | 7,313 |
Shares | Market Value• ($000) | ||
Jacobs Solutions Inc. | 52,245 | 7,044 | |
Ball Corp. | 128,242 | 6,983 | |
TransUnion | 81,011 | 6,580 | |
IDEX Corp. | 28,802 | 6,521 | |
Textron Inc. | 83,532 | 6,491 | |
Expeditors International of Washington Inc. | 55,294 | 6,453 | |
Automatic Data Processing Inc. | 24,387 | 6,209 | |
Stanley Black & Decker Inc. | 63,517 | 5,995 | |
Amcor plc | 614,511 | 5,985 | |
Snap-on Inc. | 21,867 | 5,873 | |
Nordson Corp. | 23,717 | 5,790 | |
Synchrony Financial | 178,956 | 5,777 | |
Illinois Tool Works Inc. | 23,232 | 5,746 | |
Carlisle Cos. Inc. | 21,313 | 5,606 | |
CNH Industrial NV | 405,615 | 5,589 | |
* | Trimble Inc. | 101,414 | 5,556 |
Packaging Corp. of America | 37,157 | 5,540 | |
Masco Corp. | 93,246 | 5,502 | |
Owens Corning | 37,734 | 5,430 | |
JB Hunt Transport Services Inc. | 27,357 | 5,140 | |
Lennox International Inc. | 13,442 | 5,065 | |
* | Bill Holdings Inc. | 43,106 | 4,970 |
AECOM | 55,057 | 4,831 | |
* | Zebra Technologies Corp. Class A | 17,381 | 4,780 |
Pentair plc | 67,794 | 4,763 | |
Regal Rexnord Corp. | 27,798 | 4,509 | |
Sherwin-Williams Co. | 16,387 | 4,453 | |
RPM International Inc. | 42,310 | 4,220 | |
* | Saia Inc. | 9,896 | 4,218 |
Crown Holdings Inc. | 44,651 | 4,137 | |
Hubbell Inc. | 12,048 | 3,928 | |
nVent Electric plc | 69,156 | 3,910 | |
Watsco Inc. | 10,245 | 3,735 | |
AptarGroup Inc. | 27,513 | 3,647 | |
Fortune Brands Innovations Inc. | 52,038 | 3,592 | |
* | XPO Inc. | 47,886 | 3,574 |
Huntington Ingalls Industries Inc. | 16,170 | 3,563 | |
ITT Inc. | 34,708 | 3,550 | |
* | TopBuild Corp. | 12,197 | 3,538 |
Knight-Swift Transportation Holdings Inc. | 63,765 | 3,496 | |
Westrock Co. | 106,837 | 3,495 | |
Cognex Corp. | 71,178 | 3,351 | |
A O Smith Corp. | 46,115 | 3,343 | |
Berry Global Group Inc. | 51,107 | 3,339 | |
AGCO Corp. | 25,762 | 3,337 | |
Curtiss-Wright Corp. | 15,992 | 3,326 | |
Graco Inc. | 41,544 | 3,280 | |
Robert Half Inc. | 44,291 | 3,276 | |
Equifax Inc. | 15,833 | 3,273 | |
Jack Henry & Associates Inc. | 20,828 | 3,265 | |
* | Middleby Corp. | 22,398 | 3,261 |
Woodward Inc. | 24,931 | 3,225 | |
* | GXO Logistics Inc. | 49,234 | 3,150 |
Deere & Co. | 7,509 | 3,086 | |
* | Generac Holdings Inc. | 25,533 | 3,034 |
WESCO International Inc. | 18,617 | 3,013 | |
EMCOR Group Inc. | 12,909 | 2,895 |
Shares | Market Value• ($000) | ||
Tetra Tech Inc. | 18,363 | 2,889 | |
Oshkosh Corp. | 27,421 | 2,847 | |
MKS Instruments Inc. | 27,919 | 2,798 | |
* | PayPal Holdings Inc. | 44,422 | 2,777 |
Littelfuse Inc. | 10,153 | 2,712 | |
* | MasTec Inc. | 26,188 | 2,605 |
* | WillScot Mobile Mini Holdings Corp. | 61,846 | 2,537 |
Sensata Technologies Holding plc | 63,461 | 2,387 | |
Sonoco Products Co. | 41,131 | 2,363 | |
MSA Safety Inc. | 12,897 | 2,356 | |
* | Axalta Coating Systems Ltd. | 83,152 | 2,353 |
BWX Technologies Inc. | 31,848 | 2,349 | |
* | Mohawk Industries Inc. | 22,264 | 2,257 |
Flowserve Corp. | 55,031 | 2,178 | |
Acuity Brands Inc. | 13,395 | 2,160 | |
Genpact Ltd. | 56,664 | 2,115 | |
Brunswick Corp. | 26,676 | 2,111 | |
* | FTI Consulting Inc. | 11,359 | 2,111 |
* | NU Holdings Ltd. Class A | 305,733 | 2,094 |
Allison Transmission Holdings Inc. | 34,452 | 2,083 | |
* | Kirby Corp. | 24,938 | 2,066 |
Valmont Industries Inc. | 7,987 | 2,025 | |
Cintas Corp. | 3,915 | 1,974 | |
MSC Industrial Direct Co. Inc. Class A | 19,282 | 1,968 | |
Ryder System Inc. | 19,267 | 1,940 | |
* | WEX Inc. | 9,739 | 1,911 |
* | Affirm Holdings Inc. | 91,512 | 1,904 |
Donaldson Co. Inc. | 29,722 | 1,898 | |
Crane Co. | 20,138 | 1,835 | |
Air Lease Corp. | 43,469 | 1,772 | |
* | AZEK Co. Inc. | 51,568 | 1,754 |
MDU Resources Group Inc. | 84,783 | 1,726 | |
Esab Corp. | 23,710 | 1,711 | |
Louisiana-Pacific Corp. | 27,021 | 1,688 | |
ManpowerGroup Inc. | 21,202 | 1,672 | |
Western Union Co. | 134,226 | 1,658 | |
Silgan Holdings Inc. | 35,142 | 1,586 | |
Vontier Corp. | 43,294 | 1,360 | |
Graphic Packaging Holding Co. | 59,575 | 1,325 | |
Crane NXT Co. | 20,180 | 1,198 | |
Old Dominion Freight Line Inc. | 2,799 | 1,196 | |
* | Core & Main Inc. Class A | 35,694 | 1,172 |
Armstrong World Industries Inc. | 13,347 | 1,022 | |
Sealed Air Corp. | 27,114 | 1,005 | |
Eagle Materials Inc. | 5,102 | 966 | |
CH Robinson Worldwide Inc. | 10,659 | 964 | |
* | Euronet Worldwide Inc. | 9,949 | 869 |
Spirit AeroSystems Holdings Inc. Class A | 39,396 | 840 | |
* | Hayward Holdings Inc. | 55,310 | 819 |
* | Mercury Systems Inc. | 20,796 | 816 |
Schneider National Inc. Class B | 22,623 | 654 | |
* | Gates Industrial Corp. plc | 49,757 | 611 |
Landstar System Inc. | 2,986 | 567 | |
* | FleetCor Technologies Inc. | 2,070 | 562 |
ADT Inc. | 84,613 | 543 | |
HEICO Corp. | 2,485 | 419 |
Shares | Market Value• ($000) | ||
HEICO Corp. Class A | 2,425 | 328 | |
Allegion plc | 2,721 | 310 | |
Lincoln Electric Holdings Inc. | 1,489 | 287 | |
* | Ardagh Group SA | 8,833 | 71 |
Ardagh Metal Packaging SA | 4,262 | 15 | |
1,253,648 | |||
Real Estate (4.8%) | |||
Prologis Inc. | 385,117 | 47,831 | |
Welltower Inc. | 207,081 | 17,163 | |
Crown Castle Inc. | 161,967 | 16,278 | |
Digital Realty Trust Inc. | 121,677 | 16,027 | |
Realty Income Corp. | 276,867 | 15,516 | |
Equinix Inc. | 19,456 | 15,202 | |
VICI Properties Inc. | 419,834 | 12,948 | |
Simon Property Group Inc. | 105,653 | 11,991 | |
Extra Space Storage Inc. | 87,630 | 11,276 | |
* | CBRE Group Inc. Class A | 129,507 | 11,015 |
AvalonBay Communities Inc. | 58,618 | 10,775 | |
Equity Residential | 156,214 | 10,127 | |
Weyerhaeuser Co. | 306,155 | 10,027 | |
SBA Communications Corp. | 40,334 | 9,056 | |
Invitation Homes Inc. | 253,281 | 8,634 | |
Alexandria Real Estate Equities Inc. | 71,839 | 8,358 | |
* | CoStar Group Inc. | 95,966 | 7,868 |
Public Storage | 27,299 | 7,545 | |
Ventas Inc. | 166,476 | 7,272 | |
Mid-America Apartment Communities Inc. | 48,291 | 7,013 | |
Essex Property Trust Inc. | 26,550 | 6,329 | |
WP Carey Inc. | 88,620 | 5,765 | |
UDR Inc. | 130,452 | 5,205 | |
Gaming and Leisure Properties Inc. | 105,722 | 5,011 | |
American Homes 4 Rent Class A | 137,890 | 4,970 | |
Sun Communities Inc. | 39,866 | 4,880 | |
Kimco Realty Corp. | 250,612 | 4,747 | |
Regency Centers Corp. | 75,572 | 4,701 | |
Healthpeak Properties Inc. | 226,385 | 4,659 | |
Host Hotels & Resorts Inc. | 292,919 | 4,625 | |
Camden Property Trust | 42,900 | 4,617 | |
Rexford Industrial Realty Inc. | 82,780 | 4,426 | |
Boston Properties Inc. | 65,876 | 4,398 | |
Iron Mountain Inc. | 61,544 | 3,910 | |
CubeSmart | 92,316 | 3,850 | |
Americold Realty Trust Inc. | 113,621 | 3,823 | |
* | Jones Lang LaSalle Inc. | 19,901 | 3,439 |
Equity LifeStyle Properties Inc. | 50,344 | 3,371 | |
Federal Realty Investment Trust | 33,988 | 3,329 | |
EastGroup Properties Inc. | 18,456 | 3,315 | |
Omega Healthcare Investors Inc. | 98,478 | 3,134 | |
NNN REIT Inc. | 76,213 | 3,002 | |
First Industrial Realty Trust Inc. | 55,538 | 2,885 | |
* | Zillow Group Inc. Class A | 55,303 | 2,816 |
Healthcare Realty Trust Inc. | 160,091 | 2,805 | |
Brixmor Property Group Inc. | 125,971 | 2,769 |
Shares | Market Value• ($000) | ||
STAG Industrial Inc. | 75,498 | 2,758 | |
Agree Realty Corp. | 37,384 | 2,311 | |
Spirit Realty Capital Inc. | 59,267 | 2,288 | |
Apartment Income REIT Corp. | 61,769 | 2,104 | |
Rayonier Inc. | 61,716 | 1,845 | |
Kilroy Realty Corp. | 48,986 | 1,810 | |
1 | Medical Properties Trust Inc. | 249,613 | 1,802 |
Vornado Realty Trust | 74,356 | 1,786 | |
* | Zillow Group Inc. Class C | 33,837 | 1,765 |
Cousins Properties Inc. | 63,651 | 1,496 | |
EPR Properties | 31,238 | 1,399 | |
Park Hotels & Resorts Inc. | 92,432 | 1,186 | |
National Storage Affiliates Trust | 33,566 | 1,128 | |
* | Howard Hughes Holdings Inc. | 14,135 | 1,112 |
Highwoods Properties Inc. | 43,695 | 1,041 | |
Lamar Advertising Co. Class A | 8,416 | 768 | |
395,302 | |||
Technology (7.7%) | |||
Intel Corp. | 1,745,828 | 61,348 | |
International Business Machines Corp. | 379,697 | 55,751 | |
Oracle Corp. | 374,855 | 45,129 | |
Analog Devices Inc. | 211,181 | 38,389 | |
Texas Instruments Inc. | 224,508 | 37,731 | |
Micron Technology Inc. | 456,420 | 31,922 | |
* | Advanced Micro Devices Inc. | 289,273 | 30,582 |
Roper Technologies Inc. | 44,134 | 22,026 | |
* | Salesforce Inc. | 97,403 | 21,571 |
Marvell Technology Inc. | 356,648 | 20,775 | |
* | ON Semiconductor Corp. | 180,423 | 17,764 |
Cognizant Technology Solutions Corp. Class A | 211,087 | 15,116 | |
Amphenol Corp. Class A | 121,407 | 10,730 | |
Corning Inc. | 318,353 | 10,448 | |
Hewlett Packard Enterprise Co. | 537,400 | 9,130 | |
HP Inc. | 286,900 | 8,524 | |
Applied Materials Inc. | 54,553 | 8,334 | |
* | VeriSign Inc. | 35,748 | 7,428 |
* | Zoom Video Communications Inc. Class A | 103,685 | 7,365 |
Skyworks Solutions Inc. | 66,143 | 7,192 | |
QUALCOMM Inc. | 60,098 | 6,883 | |
* | Akamai Technologies Inc. | 64,534 | 6,782 |
* | Western Digital Corp. | 133,932 | 6,027 |
Entegris Inc. | 59,414 | 6,017 | |
Leidos Holdings Inc. | 56,511 | 5,510 | |
Microchip Technology Inc. | 64,029 | 5,240 | |
Vertiv Holdings Co. | 132,573 | 5,222 | |
SS&C Technologies Holdings Inc. | 89,790 | 5,156 | |
* | Okta Inc. | 59,184 | 4,942 |
* | Black Knight Inc. | 65,059 | 4,929 |
* | Qorvo Inc. | 41,947 | 4,505 |
Amdocs Ltd. | 49,995 | 4,460 | |
NetApp Inc. | 54,244 | 4,161 | |
* | F5 Inc. | 25,293 | 4,139 |
* | Ceridian HCM Holding Inc. | 56,547 | 4,101 |
Gen Digital Inc. (XNGS) | 196,349 | 3,976 | |
* | Twilio Inc. Class A | 59,586 | 3,796 |
Shares | Market Value• ($000) | ||
* | PTC Inc. | 22,093 | 3,251 |
* | Arrow Electronics Inc. | 23,643 | 3,155 |
* | CACI International Inc. Class A | 9,501 | 3,116 |
* | AppLovin Corp. Class A | 71,190 | 3,077 |
* | Guidewire Software Inc. | 34,266 | 2,962 |
* | Unity Software Inc. | 73,318 | 2,718 |
Science Applications International Corp. | 22,628 | 2,662 | |
* | Wolfspeed Inc. | 52,144 | 2,494 |
* | DoorDash Inc. Class A | 27,563 | 2,319 |
Jabil Inc. | 20,191 | 2,310 | |
* | Nutanix Inc. Class A | 73,187 | 2,276 |
* | Aspen Technology Inc. | 11,701 | 2,270 |
KBR Inc. | 36,228 | 2,229 | |
Dolby Laboratories Inc. Class A | 24,826 | 2,097 | |
Lam Research Corp. | 2,925 | 2,055 | |
* | ANSYS Inc. | 6,352 | 2,025 |
* | DXC Technology Co. | 95,477 | 1,980 |
Avnet Inc. | 38,141 | 1,936 | |
* | Cirrus Logic Inc. | 23,204 | 1,904 |
* | Coherent Corp. | 50,161 | 1,888 |
* | GoDaddy Inc. Class A | 25,557 | 1,853 |
*,1 | GLOBALFOUNDRIES Inc. | 32,986 | 1,822 |
* | IAC Inc. | 32,358 | 1,790 |
TD SYNNEX Corp. | 17,485 | 1,779 | |
Universal Display Corp. | 10,727 | 1,744 | |
* | NCR Corp. | 53,624 | 1,649 |
* | Tyler Technologies Inc. | 3,969 | 1,581 |
Concentrix Corp. | 18,485 | 1,476 | |
* | Clarivate plc | 197,988 | 1,471 |
* | Kyndryl Holdings Inc. | 86,160 | 1,454 |
* | IPG Photonics Corp. | 12,635 | 1,369 |
Dun & Bradstreet Holdings Inc. | 111,312 | 1,213 | |
Teradyne Inc. | 10,903 | 1,176 | |
* | ZoomInfo Technologies Inc. | 63,421 | 1,143 |
* | SentinelOne Inc. Class A | 68,612 | 1,141 |
* | Pure Storage Inc. Class A | 25,747 | 942 |
* | CCC Intelligent Solutions Holdings Inc. | 84,507 | 904 |
* | nCino Inc. | 26,693 | 877 |
National Instruments Corp. | 12,030 | 717 | |
CDW Corp. | 3,218 | 679 | |
* | UiPath Inc. Class A | 36,857 | 583 |
* | Match Group Inc. | 11,701 | 548 |
* | Informatica Inc. Class A | 17,924 | 376 |
* | HashiCorp Inc. Class A | 12,397 | 362 |
* | Dropbox Inc. Class A | 12,312 | 342 |
* | Paycor HCM Inc. | 12,697 | 298 |
Bentley Systems Inc. Class B | 5,895 | 294 | |
631,408 | |||
Telecommunications (4.2%) | |||
Cisco Systems Inc. | 1,714,853 | 98,347 | |
Comcast Corp. Class A | 1,728,836 | 80,840 | |
Verizon Communications Inc. | 1,759,006 | 61,530 | |
AT&T Inc. | 2,990,063 | 44,223 | |
* | T-Mobile US Inc. | 227,329 | 30,974 |
* | Liberty Broadband Corp. Class C | 42,194 | 3,948 |
Juniper Networks Inc. | 133,818 | 3,897 | |
* | Roku Inc. | 45,444 | 3,690 |
* | Ciena Corp. | 62,365 | 3,117 |
Shares | Market Value• ($000) | ||
* | Frontier Communications Parent Inc. | 102,939 | 1,649 |
Motorola Solutions Inc. | 5,548 | 1,573 | |
* | Lumentum Holdings Inc. | 28,728 | 1,555 |
Cable One Inc. | 2,151 | 1,399 | |
* | ViaSat Inc. | 30,221 | 838 |
* | DISH Network Corp. Class A | 104,075 | 625 |
* | Liberty Broadband Corp. Class A | 1,989 | 186 |
Iridium Communications Inc. | 3,266 | 160 | |
Ubiquiti Inc. | 275 | 48 | |
*,2 | GCI Liberty Inc. | 26,959 | — |
338,599 | |||
Utilities (5.2%) | |||
NextEra Energy Inc. | 846,191 | 56,526 | |
Southern Co. | 455,570 | 30,856 | |
Duke Energy Corp. | 322,358 | 28,625 | |
Sempra Energy (XNYS) | 263,221 | 18,483 | |
American Electric Power Co. Inc. | 216,022 | 16,936 | |
Dominion Energy Inc. | 348,675 | 16,925 | |
Exelon Corp. | 415,673 | 16,677 | |
Constellation Energy Corp. | 136,920 | 14,262 | |
Xcel Energy Inc. | 230,935 | 13,193 | |
Consolidated Edison Inc. | 145,094 | 12,908 | |
Public Service Enterprise Group Inc. | 208,048 | 12,708 | |
Republic Services Inc. | 86,376 | 12,449 | |
* | PG&E Corp. | 753,768 | 12,286 |
American Water Works Co. Inc. | 81,454 | 11,301 | |
WEC Energy Group Inc. | 131,753 | 11,083 | |
Edison International | 158,326 | 10,901 | |
Eversource Energy | 146,041 | 9,320 | |
DTE Energy Co. | 85,917 | 8,882 | |
Ameren Corp. | 109,184 | 8,655 | |
Entergy Corp. | 88,262 | 8,407 | |
FirstEnergy Corp. | 227,135 | 8,193 | |
PPL Corp. | 307,416 | 7,661 | |
CenterPoint Energy Inc. | 262,849 | 7,331 | |
Atmos Energy Corp. | 59,897 | 6,945 | |
CMS Energy Corp. | 122,490 | 6,883 | |
Alliant Energy Corp. | 104,208 | 5,228 | |
Evergy Inc. | 92,338 | 5,076 | |
NiSource Inc. | 171,010 | 4,576 | |
Essential Utilities Inc. | 102,214 | 3,772 | |
Pinnacle West Capital Corp. | 47,678 | 3,684 | |
NRG Energy Inc. | 96,709 | 3,631 | |
* | Clean Harbors Inc. | 21,148 | 3,581 |
Vistra Corp. | 111,616 | 3,507 | |
OGE Energy Corp. | 84,074 | 2,863 | |
Waste Management Inc. | 17,308 | 2,713 | |
UGI Corp. | 87,814 | 2,211 | |
IDACORP Inc. | 21,274 | 2,039 | |
National Fuel Gas Co. | 37,290 | 2,004 | |
AES Corp. | 109,315 | 1,960 | |
* | Stericycle Inc. | 38,678 | 1,710 |
Brookfield Renewable Corp. Class A | 53,633 | 1,499 | |
* | Sunrun Inc. | 88,753 | 1,387 |
Clearway Energy Inc. Class C | 47,636 | 1,180 | |
Avangrid Inc. | 29,801 | 1,028 |
Shares | Market Value• ($000) | ||
Hawaiian Electric Industries Inc. | 46,088 | 646 | |
422,691 | |||
Total Common Stocks (Cost $7,859,301) | 8,146,588 | ||
Temporary Cash Investments (0.1%) | |||
Money Market Fund (0.1%) | |||
3,4 | Vanguard Market Liquidity Fund, 5.384% (Cost $13,910) | 139,143 | 13,913 |
Total Investments (99.9%) (Cost $7,873,211) | 8,160,501 | ||
Other Assets and Liabilities—Net (0.1%) | 4,294 | ||
Net Assets (100%) | 8,164,795 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $11,109,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
4 | Collateral of $11,947,000 was received for securities on loan. |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2023 | 49 | 11,064 | 198 |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Carrier Global Corp. | 8/30/24 | BANA | 4,021 | (5.320) | — | — |
Johnson Controls International plc | 8/30/24 | BANA | 2,835 | (5.320) | — | — |
— | — |
1 | Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $7,859,301) | 8,146,588 |
Affiliated Issuers (Cost $13,910) | 13,913 |
Total Investments in Securities | 8,160,501 |
Investment in Vanguard | 272 |
Cash Collateral Pledged—Futures Contracts | 550 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 540 |
Receivables for Investment Securities Sold | 10,760 |
Receivables for Accrued Income | 18,314 |
Receivables for Capital Shares Issued | 396 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | — |
Total Assets | 8,191,333 |
Liabilities | |
Due to Custodian | 374 |
Payables for Investment Securities Purchased | 881 |
Collateral for Securities on Loan | 11,947 |
Payables for Capital Shares Redeemed | 13,040 |
Payables to Vanguard | 276 |
Variation Margin Payable—Futures Contracts | 20 |
Total Liabilities | 26,538 |
Net Assets | 8,164,795 |
1 Includes $11,109,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 8,721,418 |
Total Distributable Earnings (Loss) | (556,623) |
Net Assets | 8,164,795 |
ETF Shares—Net Assets | |
Applicable to 96,977,615 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,759,973 |
Net Asset Value Per Share—ETF Shares | $69.71 |
Institutional Shares—Net Assets | |
Applicable to 5,159,772 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,404,822 |
Net Asset Value Per Share—Institutional Shares | $272.26 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 186,130 |
Interest2 | 317 |
Securities Lending—Net | 1,732 |
Total Income | 188,179 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 188 |
Management and Administrative—ETF Shares | 4,208 |
Management and Administrative—Institutional Shares | 891 |
Marketing and Distribution—ETF Shares | 373 |
Marketing and Distribution—Institutional Shares | 56 |
Custodian Fees | 336 |
Auditing Fees | 28 |
Shareholders’ Reports—ETF Shares | 151 |
Shareholders’ Reports—Institutional Shares | 3 |
Trustees’ Fees and Expenses | 4 |
Other Expenses | 24 |
Total Expenses | 6,262 |
Net Investment Income | 181,917 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 295,825 |
Futures Contracts | (54) |
Swap Contracts | (653) |
Realized Net Gain (Loss) | 295,118 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 169,474 |
Futures Contracts | 314 |
Swap Contracts | — |
Change in Unrealized Appreciation (Depreciation) | 169,788 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 646,823 |
1 | Dividends are net of foreign withholding taxes of $23,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $300,000, $7,000, less than $1,000, and $2,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $571,777,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 181,917 | 171,881 |
Realized Net Gain (Loss) | 295,118 | 542,488 |
Change in Unrealized Appreciation (Depreciation) | 169,788 | (1,252,050) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 646,823 | (537,681) |
Distributions | ||
ETF Shares | (145,415) | (132,812) |
Institutional Shares | (34,279) | (34,153) |
Total Distributions | (179,694) | (166,965) |
Capital Share Transactions | ||
ETF Shares | 400,261 | (28,099) |
Institutional Shares | (290,991) | (20,655) |
Net Increase (Decrease) from Capital Share Transactions | 109,270 | (48,754) |
Total Increase (Decrease) | 576,399 | (753,400) |
Net Assets | ||
Beginning of Period | 7,588,396 | 8,341,796 |
End of Period | 8,164,795 | 7,588,396 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 20211 | 20201 | 20191 | |
Net Asset Value, Beginning of Period | $65.70 | $71.54 | $53.52 | $54.61 | $55.60 |
Investment Operations | |||||
Net Investment Income2 | 1.523 | 1.415 | 1.282 | 1.408 | 1.357 |
Net Realized and Unrealized Gain (Loss) on Investments | 3.964 | (5.875) | 17.932 | (1.056) | (1.054) |
Total from Investment Operations | 5.487 | (4.460) | 19.214 | .352 | .303 |
Distributions | |||||
Dividends from Net Investment Income | (1.477) | (1.380) | (1.194) | (1.442) | (1.293) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (1.477) | (1.380) | (1.194) | (1.442) | (1.293) |
Net Asset Value, End of Period | $69.71 | $65.70 | $71.54 | $53.52 | $54.61 |
Total Return | 8.55% | -6.32% | 36.32% | 0.75% | 0.60% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $6,760 | $5,980 | $6,569 | $2,646 | $1,914 |
Ratio of Total Expenses to Average Net Assets | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 2.27% | 2.02% | 1.99% | 2.65% | 2.51% |
Portfolio Turnover Rate3 | 15% | 14% | 19% | 24% | 17% |
1 | Adjusted to reflect a 2-for-1 share split effective at the beginning of trading on April 20, 2021. |
2 | Calculated based on average shares outstanding. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $256.61 | $279.40 | $209.00 | $213.25 | $217.14 |
Investment Operations | |||||
Net Investment Income1 | 5.952 | 5.555 | 5.002 | 5.594 | 5.294 |
Net Realized and Unrealized Gain (Loss) on Investments | 15.489 | (22.930) | 70.071 | (4.226) | (4.087) |
Total from Investment Operations | 21.441 | (17.375) | 75.073 | 1.368 | 1.207 |
Distributions | |||||
Dividends from Net Investment Income | (5.791) | (5.415) | (4.673) | (5.618) | (5.097) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (5.791) | (5.415) | (4.673) | (5.618) | (5.097) |
Net Asset Value, End of Period | $272.26 | $256.61 | $279.40 | $209.00 | $213.25 |
Total Return | 8.55% | -6.30% | 36.35% | 0.81% | 0.61% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,405 | $1,608 | $1,773 | $1,207 | $1,889 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.27% | 2.03% | 2.01% | 2.64% | 2.52% |
Portfolio Turnover Rate2 | 15% | 14% | 19% | 24% | 17% |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 8,146,517 | 71 | — | 8,146,588 |
Temporary Cash Investments | 13,913 | — | — | 13,913 |
Total | 8,160,430 | 71 | — | 8,160,501 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 198 | — | — | 198 |
Swap Contracts | — | — | — | — |
Total | 198 | — | — | 198 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
D. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions, passive foreign investment companies, and swap agreements were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 571,491 |
Total Distributable Earnings (Loss) | (571,491) |
Amount ($000) | |
Undistributed Ordinary Income | 36,473 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 269,337 |
Capital Loss Carryforwards | (862,433) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (556,623) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 179,694 | 166,965 |
Long-Term Capital Gains | — | — |
Total | 179,694 | 166,965 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 7,891,163 |
Gross Unrealized Appreciation | 921,269 |
Gross Unrealized Depreciation | (651,932) |
Net Unrealized Appreciation (Depreciation) | 269,337 |
E. | During the year ended August 31, 2023, the fund purchased $3,723,108,000 of investment securities and sold $3,614,180,000 of investment securities, other than temporary cash investments. Purchases and sales include $2,487,714,000 and $2,218,555,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 2,616,326 | 39,050 | 2,456,832 | 35,376 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,216,065) | (33,100) | (2,484,931) | (36,175) | |
Net Increase (Decrease)—ETF Shares | 400,261 | 5,950 | (28,099) | (799) | |
Institutional Shares | |||||
Issued | 283,411 | 1,096 | 344,309 | 1,268 | |
Issued in Lieu of Cash Distributions | 29,613 | 117 | 29,650 | 110 | |
Redeemed | (604,015) | (2,319) | (394,614) | (1,457) | |
Net Increase (Decrease)—Institutional Shares | (290,991) | (1,106) | (20,655) | (79) |
G. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
H. | Management has determined that no events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Russell 1000 Growth Index Fund ETF Shares Net Asset Value | 21.87% | 13.72% | 15.51% | $42,299 | |
Russell 1000 Growth Index Fund ETF Shares Market Price | 21.95 | 13.72 | 15.52 | 42,319 | |
Russell 1000 Growth Index | 21.94 | 13.81 | 15.63 | 42,713 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Russell 1000 Growth Index Fund Institutional Shares | 21.86% | 13.74% | 15.55% | $21,209,402 | |
Russell 1000 Growth Index | 21.94 | 13.81 | 15.63 | 21,356,711 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 15,730,560 |
One Year | Five Years | Ten Years | |
Russell 1000 Growth Index Fund ETF Shares Market Price | 21.95% | 90.23% | 323.19% |
Russell 1000 Growth Index Fund ETF Shares Net Asset Value | 21.87 | 90.18 | 322.99 |
Russell 1000 Growth Index | 21.94 | 90.93 | 327.13 |
Basic Materials | 0.4% |
Consumer Discretionary | 19.4 |
Consumer Staples | 2.9 |
Energy | 0.6 |
Financials | 2.4 |
Health Care | 10.6 |
Industrials | 10.5 |
Real Estate | 0.9 |
Technology | 51.3 |
Telecommunications | 0.7 |
Utilities | 0.3 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Basic Materials (0.4%) | |||
Ecolab Inc. | 150,946 | 27,745 | |
Fastenal Co. | 334,052 | 19,235 | |
Linde plc | 36,065 | 13,959 | |
Southern Copper Corp. | 66,541 | 5,367 | |
Avery Dennison Corp. | 20,712 | 3,902 | |
Scotts Miracle-Gro Co. | 32,083 | 1,818 | |
FMC Corp. | 14,577 | 1,257 | |
Valvoline Inc. | 35,192 | 1,212 | |
74,495 | |||
Consumer Discretionary (19.4%) | |||
* | Amazon.com Inc. | 7,050,823 | 973,084 |
* | Tesla Inc. | 2,159,351 | 557,285 |
Home Depot Inc. | 792,389 | 261,726 | |
Costco Wholesale Corp. | 346,846 | 190,516 | |
* | Netflix Inc. | 343,052 | 148,775 |
* | Booking Holdings Inc. | 29,054 | 90,213 |
Starbucks Corp. | 883,053 | 86,045 | |
TJX Cos. Inc. | 902,177 | 83,433 | |
Lowe's Cos. Inc. | 342,783 | 79,005 | |
* | Uber Technologies Inc. | 1,519,402 | 71,761 |
McDonald's Corp. | 235,784 | 66,291 | |
NIKE Inc. Class B | 496,863 | 50,536 | |
Target Corp. | 360,654 | 45,641 | |
* | Airbnb Inc. Class A | 317,738 | 41,798 |
* | Chipotle Mexican Grill Inc. | 21,500 | 41,423 |
Marriott International Inc. Class A | 198,019 | 40,299 | |
* | O'Reilly Automotive Inc. | 40,582 | 38,135 |
* | Lululemon Athletica Inc. | 86,883 | 33,125 |
* | AutoZone Inc. | 12,006 | 30,391 |
* | Copart Inc. | 673,846 | 30,208 |
Ross Stores Inc. | 244,803 | 29,819 | |
* | Trade Desk Inc. Class A | 344,076 | 27,536 |
Yum! Brands Inc. | 193,459 | 25,030 | |
Dollar General Corp. | 171,095 | 23,697 | |
Tractor Supply Co. | 85,526 | 18,687 | |
* | Spotify Technology SA | 109,536 | 16,865 |
* | Coupang Inc. | 855,482 | 16,237 |
* | Ulta Beauty Inc. | 39,044 | 16,204 |
Hilton Worldwide Holdings Inc. | 91,994 | 13,675 | |
Las Vegas Sands Corp. | 240,773 | 13,209 | |
Pool Corp. | 29,625 | 10,831 | |
* | Deckers Outdoor Corp. | 20,439 | 10,814 |
Domino's Pizza Inc. | 27,638 | 10,707 |
Shares | Market Value• ($000) | ||
* | Roblox Corp. Class A | 358,874 | 10,153 |
* | DraftKings Inc. Class A | 326,223 | 9,672 |
Estee Lauder Cos. Inc. Class A | 56,556 | 9,079 | |
* | Expedia Group Inc. | 82,108 | 8,900 |
* | Burlington Stores Inc. | 50,385 | 8,175 |
* | Floor & Decor Holdings Inc. Class A | 80,939 | 8,070 |
* | Five Below Inc. | 42,620 | 7,329 |
Churchill Downs Inc. | 55,523 | 6,956 | |
Darden Restaurants Inc. | 44,082 | 6,855 | |
Rollins Inc. | 171,864 | 6,801 | |
RB Global Inc. | 108,407 | 6,691 | |
* | Royal Caribbean Cruises Ltd. | 55,030 | 5,445 |
Texas Roadhouse Inc. | 52,111 | 5,425 | |
Murphy USA Inc. | 14,685 | 4,664 | |
* | Crocs Inc. | 47,479 | 4,622 |
* | Etsy Inc. | 53,765 | 3,955 |
Wingstop Inc. | 23,300 | 3,743 | |
* | Caesars Entertainment Inc. | 65,581 | 3,624 |
* | YETI Holdings Inc. | 68,845 | 3,439 |
World Wrestling Entertainment Inc. Class A | 34,320 | 3,314 | |
H&R Block Inc. | 76,759 | 3,069 | |
Choice Hotels International Inc. | 23,628 | 2,998 | |
* | Lyft Inc. Class A | 238,954 | 2,815 |
* | American Airlines Group Inc. | 188,109 | 2,771 |
Wendy's Co. | 137,488 | 2,721 | |
Service Corp. International | 42,240 | 2,666 | |
* | BJ's Wholesale Club Holdings Inc. | 35,947 | 2,422 |
* | Live Nation Entertainment Inc. | 27,570 | 2,330 |
* | Planet Fitness Inc. Class A | 31,643 | 1,924 |
* | SiteOne Landscape Supply Inc. | 11,130 | 1,905 |
Best Buy Co. Inc. | 20,846 | 1,594 | |
*,1 | Wayfair Inc. Class A | 22,379 | 1,547 |
* | Peloton Interactive Inc. Class A | 239,963 | 1,531 |
Nexstar Media Group Inc. | 8,988 | 1,463 |
Shares | Market Value• ($000) | ||
* | Norwegian Cruise Line Holdings Ltd. | 79,256 | 1,313 |
* | NVR Inc. | 203 | 1,295 |
Tempur Sealy International Inc. | 26,442 | 1,235 | |
* | Ollie's Bargain Outlet Holdings Inc. | 15,491 | 1,194 |
eBay Inc. | 25,928 | 1,161 | |
* | Avis Budget Group Inc. | 5,397 | 1,152 |
Delta Air Lines Inc. | 25,605 | 1,098 | |
Travel & Leisure Co. | 26,215 | 1,054 | |
U-Haul Holding Co. | 19,293 | 1,027 | |
Williams-Sonoma Inc. | 6,463 | 913 | |
* | Grand Canyon Education Inc. | 6,462 | 758 |
* | RH | 2,042 | 746 |
Vail Resorts Inc. | 3,030 | 686 | |
* | CarMax Inc. | 6,763 | 552 |
* | Victoria's Secret & Co. | 27,162 | 521 |
* | Bright Horizons Family Solutions Inc. | 5,438 | 513 |
Wynn Resorts Ltd. | 4,849 | 492 | |
Polaris Inc. | 3,562 | 399 | |
Dick's Sporting Goods Inc. | 3,423 | 398 | |
Tapestry Inc. | 11,754 | 392 | |
1 | U-Haul Holding Co. (XNYS) | 6,725 | 383 |
* | Skechers USA Inc. Class A | 7,497 | 377 |
Wyndham Hotels & Resorts Inc. | 4,563 | 344 | |
* | Playtika Holding Corp. | 15,463 | 151 |
3,369,823 | |||
Consumer Staples (2.9%) | |||
PepsiCo Inc. | 744,583 | 132,476 | |
Coca-Cola Co. | 1,511,849 | 90,454 | |
Procter & Gamble Co. | 345,862 | 53,380 | |
* | Monster Beverage Corp. | 584,084 | 33,532 |
Kimberly-Clark Corp. | 248,857 | 32,060 | |
Sysco Corp. | 398,661 | 27,767 | |
Cencora Inc. | 126,931 | 22,337 | |
Hershey Co. | 85,384 | 18,346 | |
McKesson Corp. | 40,734 | 16,795 | |
Church & Dwight Co. Inc. | 170,913 | 16,539 | |
Clorox Co. | 96,514 | 15,100 | |
Lamb Weston Holdings Inc. | 107,079 | 10,431 | |
Kenvue Inc. | 406,651 | 9,373 | |
* | Celsius Holdings Inc. | 42,356 | 8,304 |
Brown-Forman Corp. Class B | 120,770 | 7,987 | |
* | Performance Food Group Co. | 56,196 | 3,491 |
Constellation Brands Inc. Class A | 11,893 | 3,099 | |
* | Boston Beer Co. Inc. Class A | 6,735 | 2,461 |
Brown-Forman Corp. Class A | 23,430 | 1,575 | |
Casey's General Stores Inc. | 4,118 | 1,007 | |
* | Freshpet Inc. | 9,755 | 737 |
Shares | Market Value• ($000) | ||
Albertsons Cos. Inc. Class A | 28,140 | 630 | |
507,881 | |||
Energy (0.6%) | |||
Cheniere Energy Inc. | 189,432 | 30,915 | |
Hess Corp. | 122,327 | 18,900 | |
Targa Resources Corp. | 174,505 | 15,051 | |
* | Enphase Energy Inc. | 103,912 | 13,148 |
APA Corp. | 214,620 | 9,409 | |
Texas Pacific Land Corp. | 4,437 | 8,363 | |
Halliburton Co. | 141,045 | 5,447 | |
Ovintiv Inc. (XNYS) | 84,004 | 3,945 | |
*,1 | ChargePoint Holdings Inc. | 224,761 | 1,609 |
New Fortress Energy Inc. | 50,419 | 1,565 | |
ONEOK Inc. | 19,204 | 1,252 | |
Antero Midstream Corp. | 88,337 | 1,071 | |
110,675 | |||
Financials (2.4%) | |||
Marsh & McLennan Cos. Inc. | 310,741 | 60,591 | |
Blackstone Inc. | 553,041 | 58,827 | |
Progressive Corp. | 343,388 | 45,832 | |
Moody's Corp. | 113,556 | 38,246 | |
�� | Apollo Global Management Inc. | 409,700 | 35,783 |
Ameriprise Financial Inc. | 82,652 | 27,902 | |
MSCI Inc. | 30,318 | 16,482 | |
Broadridge Financial Solutions Inc. | 76,491 | 14,243 | |
LPL Financial Holdings Inc. | 60,836 | 14,028 | |
FactSet Research Systems Inc. | 29,942 | 13,067 | |
Ares Management Corp. Class A | 125,045 | 12,935 | |
S&P Global Inc. | 20,784 | 8,124 | |
Equitable Holdings Inc. | 278,971 | 8,034 | |
KKR & Co. Inc. | 124,039 | 7,791 | |
MarketAxess Holdings Inc. | 28,906 | 6,964 | |
Kinsale Capital Group Inc. | 17,063 | 6,802 | |
Brown & Brown Inc. | 72,233 | 5,353 | |
Morningstar Inc. | 20,038 | 4,662 | |
Primerica Inc. | 18,392 | 3,696 | |
* | Ryan Specialty Holdings Inc. | 73,111 | 3,564 |
* | Arch Capital Group Ltd. | 39,365 | 3,026 |
Tradeweb Markets Inc. Class A | 31,019 | 2,681 | |
Willis Towers Watson plc | 10,390 | 2,148 | |
Arthur J Gallagher & Co. | 9,116 | 2,101 | |
RenaissanceRe Holdings Ltd. | 10,133 | 1,904 | |
Everest Group Ltd. | 4,362 | 1,573 | |
First Citizens BancShares Inc. Class A | 911 | 1,239 | |
SLM Corp. | 74,098 | 1,055 | |
RLI Corp. | 6,815 | 896 |
Shares | Market Value• ($000) | ||
Blue Owl Capital Inc. | 51,606 | 617 | |
* | XP Inc. Class A | 21,439 | 543 |
* | Rocket Cos. Inc. Class A | 43,251 | 462 |
TPG Inc. | 14,536 | 409 | |
Lincoln National Corp. | 12,000 | 308 | |
Houlihan Lokey Inc. | 2,827 | 298 | |
* | Brighthouse Financial Inc. | 5,381 | 267 |
1 | UWM Holdings Corp. | 25,577 | 152 |
412,605 | |||
Health Care (10.6%) | |||
Eli Lilly & Co. | 662,366 | 367,083 | |
UnitedHealth Group Inc. | 611,732 | 291,539 | |
AbbVie Inc. | 1,380,863 | 202,932 | |
Thermo Fisher Scientific Inc. | 186,123 | 103,689 | |
* | Intuitive Surgical Inc. | 273,453 | 85,503 |
Amgen Inc. | 284,633 | 72,963 | |
Zoetis Inc. | 362,749 | 69,107 | |
* | Vertex Pharmaceuticals Inc. | 184,361 | 64,220 |
Merck & Co. Inc. | 365,191 | 39,799 | |
* | Edwards Lifesciences Corp. | 472,137 | 36,104 |
* | IDEXX Laboratories Inc. | 64,653 | 33,064 |
* | DexCom Inc. | 303,399 | 30,637 |
* | IQVIA Holdings Inc. | 133,874 | 29,804 |
* | Veeva Systems Inc. Class A | 113,306 | 23,647 |
West Pharmaceutical Services Inc. | 57,777 | 23,509 | |
Agilent Technologies Inc. | 187,568 | 22,709 | |
* | Seagen Inc. | 110,014 | 22,671 |
* | Align Technology Inc. | 59,569 | 22,049 |
Stryker Corp. | 70,456 | 19,978 | |
Humana Inc. | 42,279 | 19,517 | |
ResMed Inc. | 113,392 | 18,096 | |
* | Horizon Therapeutics plc | 154,610 | 17,431 |
* | Alnylam Pharmaceuticals Inc. | 77,596 | 15,350 |
Elevance Health Inc. | 24,691 | 10,914 | |
* | Insulet Corp. | 54,155 | 10,382 |
HCA Healthcare Inc. | 32,986 | 9,147 | |
Cardinal Health Inc. | 103,136 | 9,007 | |
Bio-Techne Corp. | 114,536 | 8,980 | |
Abbott Laboratories | 85,257 | 8,773 | |
* | Sarepta Therapeutics Inc. | 69,767 | 8,442 |
* | Neurocrine Biosciences Inc. | 75,284 | 8,198 |
* | Molina Healthcare Inc. | 24,590 | 7,626 |
* | Penumbra Inc. | 28,179 | 7,453 |
* | Incyte Corp. | 106,274 | 6,858 |
* | Shockwave Medical Inc. | 28,303 | 6,238 |
* | Illumina Inc. | 36,803 | 6,081 |
Bruker Corp. | 82,919 | 5,439 | |
* | Inspire Medical Systems Inc. | 22,381 | 5,078 |
* | Medpace Holdings Inc. | 18,196 | 4,918 |
* | Natera Inc. | 80,706 | 4,740 |
* | Karuna Therapeutics Inc. | 24,878 | 4,671 |
Cigna Group | 16,899 | 4,669 |
Shares | Market Value• ($000) | ||
* | Regeneron Pharmaceuticals Inc. | 5,424 | 4,483 |
* | DaVita Inc. | 42,055 | 4,307 |
* | Masimo Corp. | 37,098 | 4,240 |
* | Exelixis Inc. | 184,947 | 4,141 |
Chemed Corp. | 8,056 | 4,120 | |
* | Exact Sciences Corp. | 48,355 | 4,046 |
* | Ionis Pharmaceuticals Inc. | 95,715 | 3,854 |
* | 10X Genomics Inc. Class A | 71,659 | 3,716 |
* | Jazz Pharmaceuticals plc | 24,741 | 3,547 |
* | agilon health Inc. | 194,963 | 3,455 |
* | Repligen Corp. | 19,136 | 3,328 |
* | Apellis Pharmaceuticals Inc. | 77,809 | 3,284 |
* | ICON plc | 9,322 | 2,423 |
* | Roivant Sciences Ltd. | 180,109 | 2,084 |
* | Ultragenyx Pharmaceutical Inc. | 52,813 | 1,943 |
* | Novocure Ltd. | 82,623 | 1,823 |
GE Healthcare Inc. | 23,075 | 1,626 | |
* | BioMarin Pharmaceutical Inc. | 17,314 | 1,582 |
* | Globus Medical Inc. Class A | 26,323 | 1,424 |
* | Sotera Health Co. | 54,117 | 873 |
* | Doximity Inc. Class A | 36,603 | 873 |
* | Certara Inc. | 33,603 | 543 |
* | Maravai LifeSciences Holdings Inc. Class A | 49,515 | 512 |
Encompass Health Corp. | 5,114 | 363 | |
* | Ginkgo Bioworks Holdings Inc. | 127,089 | 297 |
* | Tandem Diabetes Care Inc. | 6,583 | 180 |
1,832,082 | |||
Industrials (10.4%) | |||
Visa Inc. Class A | 1,267,104 | 311,302 | |
Mastercard Inc. Class A | 656,351 | 270,837 | |
Accenture plc Class A | 494,381 | 160,066 | |
Caterpillar Inc. | 303,522 | 85,329 | |
Deere & Co. | 199,708 | 82,068 | |
Lockheed Martin Corp. | 177,181 | 79,439 | |
Automatic Data Processing Inc. | 277,968 | 70,773 | |
* | PayPal Holdings Inc. | 797,328 | 49,841 |
Illinois Tool Works Inc. | 193,743 | 47,922 | |
Union Pacific Corp. | 204,574 | 45,123 | |
Sherwin-Williams Co. | 155,361 | 42,215 | |
Paychex Inc. | 252,950 | 30,918 | |
Old Dominion Freight Line Inc. | 71,789 | 30,680 | |
Cintas Corp. | 60,194 | 30,348 | |
Rockwell Automation Inc. | 90,097 | 28,117 | |
Verisk Analytics Inc. | 111,484 | 27,004 | |
United Parcel Service Inc. Class B (XNYS) | 156,691 | 26,543 | |
WW Grainger Inc. | 35,139 | 25,094 | |
American Express Co. | 151,663 | 23,961 | |
* | Mettler-Toledo International Inc. | 17,041 | 20,679 |
* | Fair Isaac Corp. | 18,919 | 17,114 |
* | Fiserv Inc. | 131,646 | 15,981 |
Shares | Market Value• ($000) | ||
* | FleetCor Technologies Inc. | 52,099 | 14,157 |
Equifax Inc. | 65,845 | 13,610 | |
* | Boeing Co. | 59,216 | 13,266 |
* | Waters Corp. | 45,747 | 12,846 |
Honeywell International Inc. | 67,114 | 12,613 | |
* | Axon Enterprise Inc. | 54,349 | 11,571 |
Booz Allen Hamilton Holding Corp. | 101,583 | 11,510 | |
Trane Technologies plc | 52,572 | 10,791 | |
* | Block Inc. (XNYS) | 157,529 | 9,082 |
* | NU Holdings Ltd. Class A | 1,233,811 | 8,452 |
Toro Co. | 81,321 | 8,321 | |
Lincoln Electric Holdings Inc. | 40,696 | 7,832 | |
HEICO Corp. Class A | 57,078 | 7,730 | |
Allegion plc | 63,447 | 7,221 | |
* | Paylocity Holding Corp. | 32,881 | 6,593 |
PPG Industries Inc. | 45,998 | 6,521 | |
CH Robinson Worldwide Inc. | 69,857 | 6,317 | |
Hubbell Inc. | 19,037 | 6,207 | |
Advanced Drainage Systems Inc. | 48,368 | 6,199 | |
Quanta Services Inc. | 29,509 | 6,193 | |
* | TransDigm Group Inc. | 6,804 | 6,150 |
* | Trex Co. Inc. | 84,756 | 6,049 |
CSX Corp. | 176,255 | 5,323 | |
HEICO Corp. | 30,997 | 5,230 | |
United Rentals Inc. | 10,956 | 5,221 | |
Vulcan Materials Co. | 22,732 | 4,961 | |
* | Keysight Technologies Inc. | 35,499 | 4,732 |
Graco Inc. | 53,437 | 4,218 | |
Landstar System Inc. | 22,184 | 4,211 | |
Eagle Materials Inc. | 18,359 | 3,476 | |
* | WEX Inc. | 15,322 | 3,006 |
EMCOR Group Inc. | 12,633 | 2,833 | |
Graphic Packaging Holding Co. | 127,083 | 2,826 | |
Jack Henry & Associates Inc. | 17,994 | 2,821 | |
Northrop Grumman Corp. | 6,283 | 2,721 | |
Donaldson Co. Inc. | 39,265 | 2,508 | |
* | Shift4 Payments Inc. Class A | 43,191 | 2,453 |
JB Hunt Transport Services Inc. | 12,600 | 2,367 | |
Watsco Inc. | 6,344 | 2,313 | |
Sealed Air Corp. | 62,039 | 2,299 | |
Xylem Inc. | 21,968 | 2,275 | |
* | Zebra Technologies Corp. Class A | 7,061 | 1,942 |
Expeditors International of Washington Inc. | 16,255 | 1,897 | |
RPM International Inc. | 18,932 | 1,888 | |
Otis Worldwide Corp. | 18,870 | 1,614 | |
* | Euronet Worldwide Inc. | 18,393 | 1,607 |
* | WillScot Mobile Mini Holdings Corp. | 38,635 | 1,585 |
Ferguson plc | 8,570 | 1,385 | |
Genpact Ltd. | 34,905 | 1,303 | |
Vontier Corp. | 40,967 | 1,287 | |
Tetra Tech Inc. | 7,356 | 1,157 | |
IDEX Corp. | 4,704 | 1,065 |
Shares | Market Value• ($000) | ||
BWX Technologies Inc. | 13,727 | 1,013 | |
* | Saia Inc. | 2,238 | 954 |
* | FTI Consulting Inc. | 4,727 | 878 |
MSA Safety Inc. | 4,787 | 875 | |
Armstrong World Industries Inc. | 10,203 | 781 | |
A O Smith Corp. | 10,271 | 745 | |
Western Union Co. | 42,855 | 529 | |
* | Axalta Coating Systems Ltd. | 18,354 | 519 |
* | TopBuild Corp. | 1,576 | 457 |
Allison Transmission Holdings Inc. | 6,643 | 402 | |
Ardagh Metal Packaging SA | 103,369 | 371 | |
Brunswick Corp. | 4,237 | 335 | |
Valmont Industries Inc. | 1,046 | 265 | |
Spirit AeroSystems Holdings Inc. Class A | 8,176 | 174 | |
1,811,407 | |||
Real Estate (0.9%) | |||
American Tower Corp. | 364,671 | 66,122 | |
Equinix Inc. | 36,627 | 28,620 | |
Public Storage | 71,040 | 19,634 | |
* | CoStar Group Inc. | 135,697 | 11,126 |
Iron Mountain Inc. | 111,968 | 7,114 | |
Simon Property Group Inc. | 55,282 | 6,274 | |
Lamar Advertising Co. Class A | 52,303 | 4,771 | |
Crown Castle Inc. | 35,824 | 3,600 | |
Equity LifeStyle Properties Inc. | 45,409 | 3,041 | |
Sun Communities Inc. | 20,856 | 2,553 | |
SBA Communications Corp. | 8,301 | 1,864 | |
UDR Inc. | 14,469 | 577 | |
155,296 | |||
Technology (51.3%) | |||
Apple Inc. | 11,679,395 | 2,194,208 | |
Microsoft Corp. | 5,824,421 | 1,909,012 | |
NVIDIA Corp. | 1,859,623 | 917,817 | |
* | Alphabet Inc. Class A | 4,648,804 | 633,028 |
* | Alphabet Inc. Class C | 4,032,497 | 553,863 |
* | Meta Platforms Inc. Class A | 1,731,123 | 512,222 |
Broadcom Inc. | 319,453 | 294,820 | |
* | Adobe Inc. | 358,593 | 200,575 |
* | Salesforce Inc. | 558,320 | 123,646 |
Intuit Inc. | 213,698 | 115,784 | |
* | ServiceNow Inc. | 159,340 | 93,824 |
QUALCOMM Inc. | 761,551 | 87,220 | |
Applied Materials Inc. | 557,785 | 85,207 | |
* | Advanced Micro Devices Inc. | 714,694 | 75,557 |
Lam Research Corp. | 99,487 | 69,880 | |
Oracle Corp. | 488,290 | 58,785 | |
* | Palo Alto Networks Inc. | 233,656 | 56,848 |
* | Synopsys Inc. | 119,018 | 54,616 |
KLA Corp. | 107,504 | 53,953 | |
* | Cadence Design Systems Inc. | 211,889 | 50,947 |
Texas Instruments Inc. | 289,238 | 48,609 | |
* | Snowflake Inc. Class A | 242,960 | 38,108 |
* | Workday Inc. Class A | 155,212 | 37,949 |
* | Autodesk Inc. | 167,972 | 37,280 |
* | Fortinet Inc. | 515,148 | 31,017 |
Shares | Market Value• ($000) | ||
* | VMware Inc. Class A | 168,087 | 28,370 |
* | Crowdstrike Holdings Inc. Class A | 164,322 | 26,789 |
Microchip Technology Inc. | 299,438 | 24,506 | |
* | Atlassian Corp. Ltd. Class A | 113,013 | 23,061 |
* | Palantir Technologies Inc. Class A | 1,462,732 | 21,912 |
CDW Corp. | 99,326 | 20,973 | |
* | Gartner Inc. | 59,911 | 20,950 |
* | Datadog Inc. Class A | 213,190 | 20,569 |
Amphenol Corp. Class A | 229,063 | 20,245 | |
* | MongoDB Inc. | 51,225 | 19,532 |
* | HubSpot Inc. | 35,692 | 19,506 |
Monolithic Power Systems Inc. | 35,463 | 18,484 | |
* | ANSYS Inc. | 55,928 | 17,834 |
* | DoorDash Inc. Class A | 184,359 | 15,510 |
* | Splunk Inc. | 125,602 | 15,230 |
* | Cloudflare Inc. Class A | 224,411 | 14,593 |
* | Pinterest Inc. Class A | 463,174 | 12,733 |
Paycom Software Inc. | 40,272 | 11,874 | |
* | EPAM Systems Inc. | 43,824 | 11,350 |
Teradyne Inc. | 101,386 | 10,936 | |
* | Zscaler Inc. | 68,843 | 10,743 |
* | Lattice Semiconductor Corp. | 106,264 | 10,335 |
* | Tyler Technologies Inc. | 24,628 | 9,813 |
* | Manhattan Associates Inc. | 48,106 | 9,747 |
* | Match Group Inc. | 196,049 | 9,189 |
* | Dynatrace Inc. | 170,558 | 8,221 |
* | DocuSign Inc. | 158,452 | 7,970 |
Jabil Inc. | 63,458 | 7,261 | |
Bentley Systems Inc. Class B | 139,067 | 6,941 | |
* | PTC Inc. | 46,889 | 6,901 |
* | Globant SA | 32,117 | 6,567 |
* | Pure Storage Inc. Class A | 171,585 | 6,278 |
* | Toast Inc. Class A | 276,380 | 6,127 |
* | GoDaddy Inc. Class A | 73,090 | 5,300 |
NetApp Inc. | 66,447 | 5,096 | |
* | Dropbox Inc. Class A | 181,562 | 5,046 |
* | Confluent Inc. Class A | 144,349 | 4,777 |
National Instruments Corp. | 79,917 | 4,763 | |
* | Procore Technologies Inc. | 61,158 | 4,131 |
HP Inc. | 137,571 | 4,087 | |
* | Smartsheet Inc. Class A | 97,820 | 4,082 |
* | Five9 Inc. | 56,276 | 4,073 |
* | Elastic NV | 62,063 | 3,840 |
* | Teradata Corp. | 79,293 | 3,669 |
* | New Relic Inc. | 42,818 | 3,644 |
* | UiPath Inc. Class A | 224,765 | 3,554 |
* | DoubleVerify Holdings Inc. | 97,718 | 3,304 |
* | Unity Software Inc. | 88,287 | 3,273 |
Universal Display Corp. | 16,512 | 2,684 | |
KBR Inc. | 38,426 | 2,364 | |
* | ZoomInfo Technologies Inc. | 125,750 | 2,266 |
* | RingCentral Inc. Class A | 68,756 | 2,127 |
* | Allegro MicroSystems Inc. | 53,132 | 2,032 |
Shares | Market Value• ($000) | ||
* | AppLovin Corp. Class A | 45,647 | 1,973 |
* | Gitlab Inc. Class A | 38,103 | 1,805 |
Pegasystems Inc. | 33,085 | 1,643 | |
* | HashiCorp Inc. Class A | 49,457 | 1,442 |
* | Alteryx Inc. Class A | 48,495 | 1,432 |
* | Twilio Inc. Class A | 21,739 | 1,385 |
Gen Digital Inc. (XNGS) | 67,354 | 1,364 | |
* | Nutanix Inc. Class A | 43,592 | 1,356 |
* | VeriSign Inc. | 3,735 | 776 |
Vertiv Holdings Co. | 19,597 | 772 | |
* | Ceridian HCM Holding Inc. | 9,852 | 714 |
* | Okta Inc. | 7,367 | 615 |
Entegris Inc. | 5,923 | 600 | |
* | Paycor HCM Inc. | 19,624 | 461 |
* | SentinelOne Inc. Class A | 19,498 | 324 |
* | nCino Inc. | 4,682 | 154 |
* | Informatica Inc. Class A | 4,724 | 99 |
8,906,852 | |||
Telecommunications (0.7%) | |||
* | Arista Networks Inc. | 195,925 | 38,250 |
* | Charter Communications Inc. Class A | 80,424 | 35,235 |
Motorola Solutions Inc. | 119,226 | 33,809 | |
Iridium Communications Inc. | 91,109 | 4,460 | |
* | Liberty Broadband Corp. Class C | 21,289 | 1,992 |
* | Roku Inc. | 11,820 | 960 |
Ubiquiti Inc. | 2,677 | 468 | |
Cable One Inc. | 304 | 198 | |
115,372 | |||
Utilities (0.3%) | |||
Waste Management Inc. | 286,692 | 44,948 | |
AES Corp. | 318,099 | 5,703 | |
Vistra Corp. | 85,083 | 2,673 | |
53,324 | |||
Total Common Stocks (Cost $11,988,336) | 17,349,812 | ||
Temporary Cash Investments (0.0%) | |||
Money Market Fund (0.0%) | |||
2,3 | Vanguard Market Liquidity Fund, 5.384% (Cost $5,750) | 57,517 | 5,751 |
Total Investments (99.9%) (Cost $11,994,086) | 17,355,563 | ||
Other Assets and Liabilities—Net (0.1%) | 9,589 | ||
Net Assets (100%) | 17,365,152 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $3,409,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $3,647,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2023 | 62 | 14,000 | 152 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $11,988,336) | 17,349,812 |
Affiliated Issuers (Cost $5,750) | 5,751 |
Total Investments in Securities | 17,355,563 |
Investment in Vanguard | 569 |
Cash | 71 |
Cash Collateral Pledged—Futures Contracts | 690 |
Receivables for Investment Securities Sold | 10,011 |
Receivables for Accrued Income | 13,422 |
Receivables for Capital Shares Issued | 2,169 |
Total Assets | 17,382,495 |
Liabilities | |
Payables for Investment Securities Purchased | 1,529 |
Collateral for Securities on Loan | 3,647 |
Payables for Capital Shares Redeemed | 11,571 |
Payables to Vanguard | 571 |
Variation Margin Payable—Futures Contracts | 25 |
Total Liabilities | 17,343 |
Net Assets | 17,365,152 |
1 Includes $3,409,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 12,936,476 |
Total Distributable Earnings (Loss) | 4,428,676 |
Net Assets | 17,365,152 |
ETF Shares—Net Assets | |
Applicable to 188,281,844 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 13,651,725 |
Net Asset Value Per Share—ETF Shares | $72.51 |
Institutional Shares—Net Assets | |
Applicable to 6,658,163 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,713,427 |
Net Asset Value Per Share—Institutional Shares | $557.73 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 135,936 |
Interest2 | 334 |
Securities Lending—Net | 556 |
Total Income | 136,826 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 321 |
Management and Administrative—ETF Shares | 7,048 |
Management and Administrative—Institutional Shares | 1,929 |
Marketing and Distribution—ETF Shares | 581 |
Marketing and Distribution—Institutional Shares | 97 |
Custodian Fees | 233 |
Auditing Fees | 28 |
Shareholders’ Reports—ETF Shares | 299 |
Shareholders’ Reports—Institutional Shares | 8 |
Trustees’ Fees and Expenses | 7 |
Other Expenses | 24 |
Total Expenses | 10,575 |
Net Investment Income | 126,251 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 382,771 |
Futures Contracts | 401 |
Realized Net Gain (Loss) | 383,172 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 2,713,649 |
Futures Contracts | 345 |
Change in Unrealized Appreciation (Depreciation) | 2,713,994 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 3,223,417 |
1 | Dividends are net of foreign withholding taxes of $8,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $314,000, $5,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $642,276,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 126,251 | 81,178 |
Realized Net Gain (Loss) | 383,172 | 54,479 |
Change in Unrealized Appreciation (Depreciation) | 2,713,994 | (2,333,788) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 3,223,417 | (2,198,131) |
Distributions | ||
ETF Shares | (90,542) | (52,400) |
Institutional Shares | (27,545) | (23,165) |
Total Distributions | (118,087) | (75,565) |
Capital Share Transactions | ||
ETF Shares | 3,874,680 | 1,452,751 |
Institutional Shares | 320,229 | (142,339) |
Net Increase (Decrease) from Capital Share Transactions | 4,194,909 | 1,310,412 |
Total Increase (Decrease) | 7,300,239 | (963,284) |
Net Assets | ||
Beginning of Period | 10,064,913 | 11,028,197 |
End of Period | 17,365,152 | 10,064,913 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 20211 | 20201 | 20191 | |
Net Asset Value, Beginning of Period | $60.05 | $74.77 | $58.66 | $41.14 | $39.89 |
Investment Operations | |||||
Net Investment Income2 | .578 | .523 | .460 | .475 | .481 |
Net Realized and Unrealized Gain (Loss) on Investments | 12.437 | (14.754) | 16.099 | 17.530 | 1.177 |
Total from Investment Operations | 13.015 | (14.231) | 16.559 | 18.005 | 1.658 |
Distributions | |||||
Dividends from Net Investment Income | (.555) | (.489) | (.449) | (.485) | (.408) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (.555) | (.489) | (.449) | (.485) | (.408) |
Net Asset Value, End of Period | $72.51 | $60.05 | $74.77 | $58.66 | $41.14 |
Total Return | 21.87% | -19.11% | 28.40% | 44.18% | 4.20% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $13,652 | $7,311 | $7,455 | $4,951 | $2,872 |
Ratio of Total Expenses to Average Net Assets | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 0.92% | 0.77% | 0.72% | 1.04% | 1.25% |
Portfolio Turnover Rate3 | 14% | 13% | 14% | 14% | 17% |
1 | Adjusted to reflect a 4-for-1 share split effective at the beginning of trading on April 20, 2021. |
2 | Calculated based on average shares outstanding. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $461.93 | $575.10 | $451.15 | $316.39 | $306.82 |
Investment Operations | |||||
Net Investment Income1 | 4.482 | 4.036 | 3.573 | 3.695 | 3.711 |
Net Realized and Unrealized Gain (Loss) on Investments | 95.622 | (113.399) | 123.861 | 134.792 | 9.061 |
Total from Investment Operations | 100.104 | (109.363) | 127.434 | 138.487 | 12.772 |
Distributions | |||||
Dividends from Net Investment Income | (4.304) | (3.807) | (3.484) | (3.727) | (3.202) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (4.304) | (3.807) | (3.484) | (3.727) | (3.202) |
Net Asset Value, End of Period | $557.73 | $461.93 | $575.10 | $451.15 | $316.39 |
Total Return | 21.86% | -19.09% | 28.42% | 44.24% | 4.21% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $3,713 | $2,754 | $3,573 | $3,542 | $3,076 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.94% | 0.77% | 0.74% | 1.06% | 1.26% |
Portfolio Turnover Rate2 | 14% | 13% | 14% | 14% | 17% |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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. |
D. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 642,062 |
Total Distributable Earnings (Loss) | (642,062) |
Amount ($000) | |
Undistributed Ordinary Income | 27,043 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 5,347,226 |
Capital Loss Carryforwards | (945,593) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 4,428,676 |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 118,087 | 75,565 |
Long-Term Capital Gains | — | — |
Total | 118,087 | 75,565 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 12,008,337 |
Gross Unrealized Appreciation | 5,632,972 |
Gross Unrealized Depreciation | (285,746) |
Net Unrealized Appreciation (Depreciation) | 5,347,226 |
E. | During the year ended August 31, 2023, the fund purchased $7,628,441,000 of investment securities and sold $3,435,285,000 of investment securities, other than temporary cash investments. Purchases and sales include $5,239,217,000 and $1,457,907,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 5,340,020 | 88,875 | 2,316,585 | 34,850 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,465,340) | (22,325) | (863,834) | (12,825) | |
Net Increase (Decrease)—ETF Shares | 3,874,680 | 66,550 | 1,452,751 | 22,025 | |
Institutional Shares | |||||
Issued | 877,284 | 1,872 | 370,624 | 724 | |
Issued in Lieu of Cash Distributions | 24,974 | 54 | 21,117 | 40 | |
Redeemed | (582,029) | (1,231) | (534,080) | (1,014) | |
Net Increase (Decrease)—Institutional Shares | 320,229 | 695 | (142,339) | (250) |
G. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
H. | Management has determined that no events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
October 18, 2023
Fund | Percentage |
Russell 1000 Index Fund | 94.0% |
Russell 1000 Value Index Fund | 91.9 |
Russell 1000 Growth Index Fund | 100.0 |
Fund | ($000) |
Russell 1000 Index Fund | 83,200 |
Russell 1000 Value Index Fund | 173,174 |
Russell 1000 Growth Index Fund | 118,086 |
Fund | ($000) |
Russell 1000 Index Fund | 793 |
Russell 1000 Value Index Fund | 5,169 |
Russell 1000 Growth Index Fund | — |
Fund | ($000) |
Russell 1000 Index Fund | 111 |
Russell 1000 Value Index Fund | 98 |
Russell 1000 Growth Index Fund | 98 |
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Vanguard Russell 2000 Index Fund |
Vanguard Russell 2000 Value Index Fund |
Vanguard Russell 2000 Growth Index Fund |
Your Fund’s Performance at a Glance | 1 |
About Your Fund’s Expenses | 2 |
Russell 2000 Index Fund | 4 |
Russell 2000 Value Index Fund | 39 |
Russell 2000 Growth Index Fund | 67 |
Trustees Approve Advisory Arrangements | 94 |
Liquidity Risk Management | 96 |
• | For the 12 months ended August 31, 2023, returns for the three Vanguard Russell 2000 Index Funds ranged from just over 2% for Vanguard Russell 2000 Value Index Fund to nearly 7% for Vanguard Russell 2000 Growth Index Fund. Vanguard Russell 2000 Index Fund returned almost 5%. Each fund closely tracked its target index. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks including the Federal Reserve fanned fears of recession, the economy proved more resilient than expected. |
• | Large-capitalization stocks outperformed their mid- and small-cap counterparts, and growth stocks performed better than value. |
• | All three funds saw positive returns in five of the 11 industry sectors represented. Industrials led performance in all three funds; technology, energy, and consumer discretionary also performed well across the board. Financials and health care were the biggest detractors. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Russell 2000 Index Fund | |||
ETF Shares | $1,000.00 | $1,010.20 | $0.51 |
Institutional Shares | 1,000.00 | 1,010.30 | 0.41 |
Russell 2000 Value Index Fund | |||
ETF Shares | $1,000.00 | $980.50 | $0.75 |
Institutional Shares | 1,000.00 | 980.80 | 0.40 |
Russell 2000 Growth Index Fund | |||
ETF Shares | $1,000.00 | $1,036.50 | $0.77 |
Institutional Shares | 1,000.00 | 1,036.80 | 0.41 |
Based on Hypothetical 5% Yearly Return | |||
Russell 2000 Index Fund | |||
ETF Shares | $1,000.00 | $1,024.70 | $0.51 |
Institutional Shares | 1,000.00 | 1,024.80 | 0.41 |
Russell 2000 Value Index Fund | |||
ETF Shares | $1,000.00 | $1,024.45 | $0.77 |
Institutional Shares | 1,000.00 | 1,024.80 | 0.41 |
Russell 2000 Growth Index Fund | |||
ETF Shares | $1,000.00 | $1,024.45 | $0.77 |
Institutional Shares | 1,000.00 | 1,024.80 | 0.41 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Russell 2000 Index Fund ETF Shares Net Asset Value | 4.75% | 3.21% | 8.00% | $21,598 | |
Russell 2000 Index Fund ETF Shares Market Price | 4.72 | 3.20 | 8.00 | 21,594 | |
Russell 2000 Index | 4.65 | 3.14 | 7.96 | 21,510 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Russell 2000 Index Fund Institutional Shares | 4.76% | 3.22% | 8.05% | $10,846,650 | |
Russell 2000 Index | 4.65 | 3.14 | 7.96 | 10,755,140 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 15,730,560 |
One Year | Five Years | Ten Years | |
Russell 2000 Index Fund ETF Shares Market Price | 4.72% | 17.08% | 115.94% |
Russell 2000 Index Fund ETF Shares Net Asset Value | 4.75 | 17.09 | 115.98 |
Russell 2000 Index | 4.65 | 16.73 | 115.10 |
Basic Materials | 3.9% |
Consumer Discretionary | 13.2 |
Consumer Staples | 3.0 |
Energy | 8.3 |
Financials | 14.8 |
Health Care | 14.9 |
Industrials | 18.5 |
Real Estate | 6.3 |
Technology | 12.6 |
Telecommunications | 1.5 |
Utilities | 3.0 |
Other | 0.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Basic Materials (3.8%) | |||
Commercial Metals Co. | 337,959 | 19,024 | |
UFP Industries Inc. | 173,323 | 18,086 | |
Balchem Corp. | 92,320 | 12,971 | |
Boise Cascade Co. | 114,649 | 12,539 | |
Mueller Industries Inc. | 161,792 | 12,484 | |
Cabot Corp. | 159,943 | 11,589 | |
* | Livent Corp. | 521,432 | 11,195 |
Avient Corp. | 261,301 | 10,481 | |
Carpenter Technology Corp. | 138,978 | 8,704 | |
Innospec Inc. | 71,998 | 7,734 | |
Hecla Mining Co. | 1,733,007 | 7,608 | |
Sensient Technologies Corp. | 121,438 | 7,482 | |
Quaker Chemical Corp. | 40,083 | 7,114 | |
Worthington Industries Inc. | 88,850 | 6,688 | |
* | Constellium SE | 365,440 | 6,578 |
Materion Corp. | 59,259 | 6,447 | |
* | Ingevity Corp. | 107,795 | 5,809 |
Minerals Technologies Inc. | 94,024 | 5,745 | |
Stepan Co. | 61,524 | 5,369 | |
Tronox Holdings plc | 337,306 | 4,601 | |
*,1 | Uranium Energy Corp. | 1,061,186 | 4,584 |
Sylvamo Corp. | 105,213 | 4,395 | |
Orion SA | 161,740 | 3,659 | |
Kaiser Aluminum Corp. | 46,064 | 3,497 | |
Hawkins Inc. | 55,865 | 3,474 | |
*,1 | Energy Fuels Inc. | 454,664 | 3,242 |
Compass Minerals International Inc. | 98,864 | 2,981 | |
* | Novagold Resources Inc. | 698,593 | 2,878 |
* | Ecovyst Inc. | 275,296 | 2,819 |
* | TimkenSteel Corp. | 125,772 | 2,756 |
* | US Silica Holdings Inc. | 217,944 | 2,687 |
* | Perimeter Solutions SA | 453,472 | 2,680 |
Mativ Holdings Inc. | 157,800 | 2,588 | |
AdvanSix Inc. | 76,718 | 2,538 | |
*,1 | Ivanhoe Electric Inc. | 161,397 | 2,523 |
Schnitzer Steel Industries Inc. Class A | 74,405 | 2,470 | |
* | Piedmont Lithium Inc. | 51,542 | 2,307 |
Koppers Holdings Inc. | 58,081 | 2,224 | |
* | Coeur Mining Inc. | 919,076 | 2,215 |
Ryerson Holding Corp. | 64,910 | 2,021 | |
GrafTech International Ltd. | 557,326 | 1,973 | |
* | Clearwater Paper Corp. | 48,302 | 1,849 |
Shares | Market Value• ($000) | ||
Haynes International Inc. | 36,093 | 1,762 | |
* | LSB Industries Inc. | 158,501 | 1,604 |
Olympic Steel Inc. | 28,504 | 1,526 | |
* | Century Aluminum Co. | 152,618 | 1,135 |
*,1 | i-80 Gold Corp. | 561,496 | 1,112 |
American Vanguard Corp. | 78,187 | 1,081 | |
*,1 | Encore Energy Corp. | 407,644 | 1,048 |
* | Northwest Pipe Co. | 28,121 | 930 |
* | Intrepid Potash Inc. | 30,934 | 830 |
Omega Flex Inc. | 9,397 | 786 | |
* | Rayonier Advanced Materials Inc. | 185,686 | 655 |
FutureFuel Corp. | 74,654 | 529 | |
Caledonia Mining Corp. plc | 46,862 | 485 | |
* | Dakota Gold Corp. | 155,393 | 447 |
* | Origin Materials Inc. | 302,740 | 415 |
*,1 | LanzaTech Global Inc. | 58,830 | 389 |
Tredegar Corp. | 75,322 | 379 | |
*,1 | Perpetua Resources Corp. | 107,836 | 357 |
*,1 | 5e Advanced Materials Inc. | 112,191 | 287 |
* | Glatfelter Corp. | 126,126 | 252 |
* | Polymet Mining Corp. | 97,406 | 203 |
* | Contango ORE Inc. | 10,650 | 194 |
Valhi Inc. | 6,984 | 92 | |
* | NioCorp Developments Ltd. | 10,255 | 38 |
267,144 | |||
Consumer Discretionary (13.2%) | |||
* | Light & Wonder Inc. | 263,724 | 20,220 |
* | elf Beauty Inc. | 144,982 | 20,110 |
Meritage Homes Corp. | 105,113 | 14,615 | |
* | Asbury Automotive Group Inc. | 62,570 | 14,391 |
* | Taylor Morrison Home Corp. | 303,375 | 14,380 |
*,1 | Carvana Co. | 277,026 | 13,948 |
* | Fox Factory Holding Corp. | 123,202 | 13,652 |
* | Duolingo Inc. | 82,777 | 12,181 |
Academy Sports & Outdoors Inc. | 215,667 | 11,769 | |
* | Visteon Corp. | 81,228 | 11,313 |
* | Skyline Champion Corp. | 154,778 | 11,031 |
KB Home | 213,895 | 10,866 | |
* | Adient plc | 276,013 | 10,811 |
TEGNA Inc. | 646,536 | 10,687 | |
Group 1 Automotive Inc. | 40,203 | 10,630 |
Shares | Market Value• ($000) | ||
* | Goodyear Tire & Rubber Co. | 812,313 | 10,487 |
* | Hilton Grand Vacations Inc. | 235,026 | 10,275 |
International Game Technology plc | 313,605 | 10,042 | |
Signet Jewelers Ltd. | 128,571 | 9,643 | |
American Eagle Outfitters Inc. | 527,175 | 8,941 | |
LCI Industries | 71,292 | 8,931 | |
* | Tri Pointe Homes Inc. | 286,570 | 8,912 |
* | Helen of Troy Ltd. | 69,574 | 8,552 |
MDC Holdings Inc. | 169,668 | 8,051 | |
* | Boot Barn Holdings Inc. | 85,844 | 7,876 |
* | Frontdoor Inc. | 237,340 | 7,790 |
Papa John's International Inc. | 100,891 | 7,637 | |
* | M/I Homes Inc. | 77,683 | 7,627 |
* | Shake Shack Inc. Class A | 108,951 | 7,627 |
* | Abercrombie & Fitch Co. Class A | 140,995 | 7,578 |
Steven Madden Ltd. | 217,154 | 7,492 | |
Rush Enterprises Inc. Class A | 179,485 | 7,432 | |
Inter Parfums Inc. | 52,976 | 7,402 | |
* | LGI Homes Inc. | 60,081 | 7,396 |
Kontoor Brands Inc. | 160,524 | 7,350 | |
* | Topgolf Callaway Brands Corp. | 415,786 | 7,251 |
Bloomin' Brands Inc. | 252,853 | 7,095 | |
* | Cavco Industries Inc. | 25,245 | 7,056 |
* | Coursera Inc. | 376,577 | 6,549 |
* | SkyWest Inc. | 139,576 | 6,295 |
Graham Holdings Co. Class B | 10,712 | 6,281 | |
* | Dorman Products Inc. | 76,064 | 6,276 |
* | ACV Auctions Inc. Class A | 367,238 | 6,173 |
* | Urban Outfitters Inc. | 184,379 | 6,123 |
Century Communities Inc. | 82,195 | 6,103 | |
Dana Inc. | 377,249 | 6,077 | |
Red Rock Resorts Inc. Class A | 137,507 | 6,041 | |
PriceSmart Inc. | 74,659 | 5,934 | |
* | Gentherm Inc. | 95,680 | 5,761 |
* | Adtalem Global Education Inc. | 130,926 | 5,741 |
* | JetBlue Airways Corp. | 955,797 | 5,658 |
* | SeaWorld Entertainment Inc. | 115,222 | 5,611 |
Winnebago Industries Inc. | 85,532 | 5,547 | |
* | XPEL Inc. | 65,298 | 5,439 |
Hanesbrands Inc. | 1,019,079 | 5,350 | |
Acushnet Holdings Corp. | 90,208 | 5,282 | |
Laureate Education Inc. | 378,417 | 5,271 | |
Cracker Barrel Old Country Store Inc. | 63,763 | 5,256 | |
Spirit Airlines Inc. | 317,370 | 5,237 | |
* | Stride Inc. | 122,544 | 5,207 |
* | Cinemark Holdings Inc. | 317,531 | 5,169 |
Strategic Education Inc. | 65,427 | 5,071 | |
* | Sonos Inc. | 367,328 | 5,062 |
* | Dave & Buster's Entertainment Inc. | 125,093 | 4,912 |
* | ODP Corp. | 99,000 | 4,883 |
* | OPENLANE Inc. | 312,367 | 4,876 |
Upbound Group Inc. | 159,243 | 4,876 | |
Jack in the Box Inc. | 59,856 | 4,811 |
Shares | Market Value• ($000) | ||
* | Six Flags Entertainment Corp. | 208,146 | 4,779 |
* | Vista Outdoor Inc. | 162,371 | 4,749 |
*,1 | Sabre Corp. | 944,396 | 4,722 |
Foot Locker Inc. | 237,446 | 4,659 | |
* | Atlanta Braves Holdings Inc. Class C | 126,125 | 4,646 |
* | Central Garden & Pet Co. Class A | 113,493 | 4,631 |
* | PROG Holdings Inc. | 133,844 | 4,591 |
John Wiley & Sons Inc. Class A | 123,389 | 4,585 | |
*,1 | Luminar Technologies Inc. | 788,121 | 4,540 |
Cheesecake Factory Inc. | 140,133 | 4,463 | |
HNI Corp. | 133,538 | 4,375 | |
Oxford Industries Inc. | 43,311 | 4,374 | |
MillerKnoll Inc. | 219,633 | 4,195 | |
* | Knowles Corp. | 259,151 | 4,154 |
* | Brinker International Inc. | 126,399 | 4,137 |
* | National Vision Holdings Inc. | 224,634 | 4,113 |
Allegiant Travel Co. | 45,532 | 4,045 | |
* | Madison Square Garden Entertainment Corp. | 125,001 | 4,011 |
* | Sweetgreen Inc. Class A | 278,223 | 3,995 |
La-Z-Boy Inc. | 125,627 | 3,876 | |
* | Green Brick Partners Inc. | 76,089 | 3,763 |
Matthews International Corp. Class A | 85,644 | 3,612 | |
Dillard's Inc. Class A | 10,461 | 3,610 | |
Scholastic Corp. | 82,664 | 3,592 | |
* | Cars.com Inc. | 191,645 | 3,582 |
* | PowerSchool Holdings Inc. Class A | 161,684 | 3,576 |
* | Everi Holdings Inc. | 243,448 | 3,520 |
* | Chegg Inc. | 340,988 | 3,482 |
* | Overstock.com Inc. | 130,279 | 3,402 |
Krispy Kreme Inc. | 252,826 | 3,385 | |
*,1 | Fisker Inc. | 567,398 | 3,331 |
Buckle Inc. | 88,175 | 3,222 | |
Perdoceo Education Corp. | 193,951 | 3,214 | |
* | Leslie's Inc. | 512,360 | 3,207 |
* | Sally Beauty Holdings Inc. | 309,746 | 3,147 |
Winmark Corp. | 8,254 | 3,141 | |
* | iRobot Corp. | 79,314 | 3,085 |
1 | Camping World Holdings Inc. Class A | 120,738 | 2,986 |
Monro Inc. | 90,034 | 2,948 | |
Caleres Inc. | 100,430 | 2,879 | |
* | Malibu Boats Inc. Class A | 58,902 | 2,860 |
* | Sphere Entertainment Co. | 75,457 | 2,646 |
Monarch Casino & Resort Inc. | 38,758 | 2,612 | |
Sturm Ruger & Co. Inc. | 50,599 | 2,610 | |
* | Udemy Inc. | 246,837 | 2,557 |
* | Lions Gate Entertainment Corp. Class B | 338,137 | 2,519 |
* | Beazer Homes USA Inc. | 85,236 | 2,498 |
* | American Axle & Manufacturing Holdings Inc. | 330,487 | 2,495 |
Dine Brands Global Inc. | 45,118 | 2,472 | |
* | Imax Corp. | 129,183 | 2,471 |
* | Arlo Technologies Inc. | 250,101 | 2,444 |
* | G-III Apparel Group Ltd. | 122,205 | 2,426 |
Sonic Automotive Inc. Class A | 45,143 | 2,407 |
Shares | Market Value• ($000) | ||
* | OneSpaWorld Holdings Ltd. | 209,926 | 2,402 |
Steelcase Inc. Class A | 253,825 | 2,302 | |
* | Figs Inc. Class A | 367,473 | 2,271 |
Standard Motor Products Inc. | 60,945 | 2,257 | |
* | Portillo's Inc. Class A | 122,411 | 2,245 |
* | Life Time Group Holdings Inc. | 128,793 | 2,215 |
Golden Entertainment Inc. | 58,226 | 2,120 | |
* | Clean Energy Fuels Corp. | 488,102 | 2,079 |
Ethan Allen Interiors Inc. | 65,709 | 2,062 | |
* | MarineMax Inc. | 61,517 | 2,047 |
*,1 | Dream Finders Homes Inc. Class A | 69,709 | 2,009 |
Guess? Inc. | 83,055 | 1,998 | |
* | Chuy's Holdings Inc. | 51,988 | 1,981 |
* | BJ's Restaurants Inc. | 65,477 | 1,926 |
Gray Television Inc. | 238,372 | 1,921 | |
* | America's Car-Mart Inc. | 16,925 | 1,884 |
A-Mark Precious Metals Inc. | 54,778 | 1,869 | |
* | Accel Entertainment Inc. | 155,451 | 1,848 |
* | Thryv Holdings Inc. | 89,219 | 1,819 |
* | Rover Group Inc. | 267,722 | 1,812 |
Wolverine World Wide Inc. | 223,384 | 1,805 | |
* | Chico's FAS Inc. | 350,991 | 1,801 |
Arko Corp. | 237,338 | 1,787 | |
* | Revolve Group Inc. | 118,146 | 1,731 |
Interface Inc. | 165,315 | 1,708 | |
* | Stagwell Inc. | 313,477 | 1,708 |
*,1 | European Wax Center Inc. Class A | 98,366 | 1,708 |
Hibbett Inc. | 36,309 | 1,681 | |
* | Corsair Gaming Inc. | 106,500 | 1,674 |
* | Viad Corp. | 58,699 | 1,666 |
* | Hovnanian Enterprises Inc. Class A | 13,941 | 1,657 |
* | Cardlytics Inc. | 97,614 | 1,626 |
* | Sun Country Airlines Holdings Inc. | 108,761 | 1,619 |
RCI Hospitality Holdings Inc. | 24,727 | 1,614 | |
* | Sleep Number Corp. | 61,696 | 1,578 |
* | Stoneridge Inc. | 76,297 | 1,568 |
* | Integral Ad Science Holding Corp. | 109,027 | 1,556 |
* | Clear Channel Outdoor Holdings Inc. | 1,070,395 | 1,552 |
Smith & Wesson Brands Inc. | 131,873 | 1,548 | |
* | Xponential Fitness Inc. Class A | 71,316 | 1,545 |
* | WW International Inc. | 157,377 | 1,528 |
* | Denny's Corp. | 157,584 | 1,502 |
Designer Brands Inc. Class A | 142,555 | 1,498 | |
*,1 | Super Group SGHC Ltd. | 395,308 | 1,494 |
* | QuinStreet Inc. | 149,930 | 1,484 |
* | Kura Sushi USA Inc. Class A | 16,910 | 1,477 |
* | Instructure Holdings Inc. | 56,304 | 1,459 |
* | Bally's Corp. | 86,500 | 1,436 |
* | GoPro Inc. Class A | 374,153 | 1,360 |
* | EW Scripps Co. Class A | 174,325 | 1,332 |
Shares | Market Value• ($000) | ||
Haverty Furniture Cos. Inc. | 42,352 | 1,326 | |
* | Lions Gate Entertainment Corp. Class A | 165,548 | 1,311 |
1 | Cricut Inc. Class A | 137,804 | 1,304 |
Sinclair Inc. | 101,770 | 1,284 | |
Global Industrial Co. | 37,867 | 1,281 | |
* | Hawaiian Holdings Inc. | 149,199 | 1,280 |
Rush Enterprises Inc. Class B | 27,371 | 1,258 | |
* | Vizio Holding Corp. Class A | 219,157 | 1,258 |
* | Central Garden & Pet Co. | 28,369 | 1,252 |
* | Liquidity Services Inc. | 68,623 | 1,252 |
Movado Group Inc. | 44,369 | 1,214 | |
* | Gannett Co. Inc. | 416,915 | 1,213 |
* | Atlanta Braves Holdings Inc. Class A | 28,910 | 1,210 |
* | Genesco Inc. | 35,108 | 1,204 |
Carriage Services Inc. | 38,934 | 1,200 | |
* | Boston Omaha Corp. Class A | 66,758 | 1,180 |
* | Daily Journal Corp. | 3,884 | 1,145 |
Shoe Carnival Inc. | 48,532 | 1,123 | |
Bluegreen Vacations Holding Corp. | 31,319 | 1,123 | |
Aaron's Co. Inc. | 91,537 | 1,105 | |
* | MasterCraft Boat Holdings Inc. | 50,731 | 1,104 |
* | iHeartMedia Inc. Class A | 299,092 | 1,080 |
*,1 | Stitch Fix Inc. Class A | 245,527 | 1,078 |
Marcus Corp. | 70,207 | 1,066 | |
* | Quotient Technology Inc. | 262,533 | 1,048 |
* | AMC Networks Inc. Class A | 89,612 | 1,043 |
Build-A-Bear Workshop Inc. | 38,602 | 1,018 | |
* | Bowlero Corp. | 85,450 | 940 |
* | Lovesac Co. | 40,808 | 935 |
* | Children's Place Inc. | 34,641 | 918 |
* | Lindblad Expeditions Holdings Inc. | 101,196 | 916 |
* | Playstudios Inc. | 249,059 | 887 |
Johnson Outdoors Inc. Class A | 15,703 | 878 | |
* | OneWater Marine Inc. Class A | 33,550 | 876 |
* | Zumiez Inc. | 45,529 | 865 |
* | Holley Inc. | 151,713 | 865 |
*,1 | Mondee Holdings Inc. | 131,922 | 854 |
* | First Watch Restaurant Group Inc. | 44,028 | 842 |
* | Inspired Entertainment Inc. | 63,228 | 833 |
* | Rush Street Interactive Inc. | 180,727 | 831 |
* | ThredUP Inc. Class A | 204,954 | 816 |
* | Nerdy Inc. | 171,268 | 802 |
El Pollo Loco Holdings Inc. | 83,555 | 795 | |
Alta Equipment Group Inc. | 55,678 | 792 | |
* | Destination XL Group Inc. | 170,517 | 778 |
* | SES AI Corp. | 356,413 | 752 |
* | Universal Technical Institute Inc. | 93,619 | 746 |
* | CarParts.com Inc. | 152,874 | 738 |
Shares | Market Value• ($000) | ||
* | Carrols Restaurant Group Inc. | 104,920 | 732 |
* | Eastman Kodak Co. | 162,743 | 727 |
* | Cooper-Standard Holdings Inc. | 48,219 | 720 |
* | PlayAGS Inc. | 105,425 | 720 |
* | 2U Inc. | 226,035 | 717 |
* | Funko Inc. Class A | 99,303 | 692 |
*,1 | Vuzix Corp. | 172,143 | 689 |
* | Frontier Group Holdings Inc. | 108,746 | 683 |
Hooker Furnishings Corp. | 31,433 | 677 | |
* | Outbrain Inc. | 117,151 | 669 |
Entravision Communications Corp. Class A | 171,743 | 658 | |
* | Legacy Housing Corp. | 28,338 | 642 |
Clarus Corp. | 83,510 | 600 | |
* | Potbelly Corp. | 74,575 | 596 |
*,1 | AMMO Inc. | 257,075 | 589 |
Nathan's Famous Inc. | 8,017 | 583 | |
* | Lincoln Educational Services Corp. | 67,678 | 577 |
* | Tilly's Inc. Class A | 63,967 | 575 |
* | 1-800-Flowers.com Inc. Class A | 74,377 | 560 |
* | Vera Bradley Inc. | 74,976 | 538 |
* | Sportsman's Warehouse Holdings Inc. | 108,073 | 520 |
*,1 | Blink Charging Co. | 131,994 | 520 |
* | Century Casinos Inc. | 78,532 | 510 |
Climb Global Solutions Inc. | 11,827 | 509 | |
Big Lots Inc. | 81,263 | 504 | |
*,1 | BARK Inc. | 311,783 | 499 |
1 | Big 5 Sporting Goods Corp. | 61,378 | 487 |
* | Tile Shop Holdings Inc. | 82,276 | 487 |
* | Turtle Beach Corp. | 44,594 | 485 |
* | Snap One Holdings Corp. | 52,757 | 483 |
* | Selectquote Inc. | 389,420 | 475 |
* | Red Robin Gourmet Burgers Inc. | 45,376 | 471 |
* | Full House Resorts Inc. | 93,763 | 453 |
* | Traeger Inc. | 100,968 | 451 |
* | ONE Group Hospitality Inc. | 64,837 | 444 |
Weyco Group Inc. | 16,985 | 434 | |
* | Gambling.com Group Ltd. | 30,357 | 430 |
Escalade Inc. | 28,444 | 426 | |
* | Lazydays Holdings Inc. | 36,162 | 426 |
* | Fiesta Restaurant Group Inc. | 50,525 | 425 |
* | Latham Group Inc. | 110,916 | 410 |
* | JAKKS Pacific Inc. | 20,672 | 407 |
1 | Purple Innovation Inc. | 186,806 | 405 |
* | Biglari Holdings Inc. Class B | 2,114 | 393 |
Cato Corp. Class A | 49,704 | 385 | |
* | Landsea Homes Corp. | 38,444 | 373 |
Rocky Brands Inc. | 20,399 | 363 | |
*,1 | Livewire Group Inc. | 31,421 | 351 |
* | Solo Brands Inc. Class A | 62,612 | 350 |
* | Allbirds Inc. Class A | 271,435 | 350 |
* | VOXX International Corp. | 39,681 | 343 |
*,1 | ContextLogic Inc. Class A | 63,026 | 338 |
Marine Products Corp. | 24,061 | 337 | |
* | Lands' End Inc. | 42,852 | 330 |
Shares | Market Value• ($000) | ||
* | J Jill Inc. | 13,012 | 327 |
Townsquare Media Inc. Class A | 33,313 | 322 | |
* | Noodles & Co. | 114,608 | 319 |
* | Reservoir Media Inc. | 56,675 | 309 |
* | Fossil Group Inc. | 134,242 | 285 |
* | Duluth Holdings Inc. Class B | 39,943 | 254 |
* | Urban One Inc. | 35,779 | 193 |
* | Emerald Holding Inc. | 44,505 | 188 |
*,1 | Rent the Runway Inc. Class A | 134,308 | 185 |
* | United Homes Group Inc. | 17,593 | 147 |
* | Urban One Inc. (XNCM) | 24,964 | 139 |
NL Industries Inc. | 24,678 | 128 | |
* | Savers Value Village Inc. | 4,471 | 111 |
* | Envela Corp. | 21,651 | 110 |
CompX International Inc. | 4,673 | 99 | |
*,1 | Cava Group Inc. | 2,111 | 94 |
* | Loop Media Inc. | 104,113 | 91 |
*,1 | Torrid Holdings Inc. | 34,546 | 78 |
* | Liberty TripAdvisor Holdings Inc. Class B | 1,413 | 44 |
* | Qurate Retail Inc. Class B | 1,003 | 6 |
912,595 | |||
Consumer Staples (3.0%) | |||
* | BellRing Brands Inc. | 386,770 | 16,051 |
* | Sprouts Farmers Market Inc. | 299,063 | 12,199 |
* | Hostess Brands Inc. | 383,611 | 10,925 |
Coca-Cola Consolidated Inc. | 13,796 | 9,642 | |
* | Simply Good Foods Co. | 261,967 | 9,452 |
Lancaster Colony Corp. | 56,442 | 9,324 | |
WD-40 Co. | 39,175 | 8,418 | |
Energizer Holdings Inc. | 207,091 | 7,114 | |
J & J Snack Foods Corp. | 43,465 | 7,047 | |
* | TreeHouse Foods Inc. | 148,728 | 6,919 |
Primo Water Corp. | 451,575 | 6,891 | |
Edgewell Personal Care Co. | 148,093 | 5,710 | |
MGP Ingredients Inc. | 45,814 | 5,493 | |
Cal-Maine Foods Inc. | 110,215 | 5,267 | |
Andersons Inc. | 92,715 | 4,762 | |
Vector Group Ltd. | 420,261 | 4,501 | |
* | Herbalife Ltd. | 285,728 | 4,292 |
* | National Beverage Corp. | 68,355 | 3,507 |
* | United Natural Foods Inc. | 171,062 | 3,444 |
Nu Skin Enterprises Inc. Class A | 143,737 | 3,434 | |
Universal Corp. | 69,548 | 3,312 | |
Utz Brands Inc. | 207,721 | 3,207 | |
Ingles Markets Inc. Class A | 40,552 | 3,168 | |
Weis Markets Inc. | 47,577 | 3,086 | |
* | Chefs' Warehouse Inc. | 101,744 | 2,904 |
* | Hain Celestial Group Inc. | 258,931 | 2,742 |
B&G Foods Inc. | 205,689 | 2,631 | |
Medifast Inc. | 31,019 | 2,616 | |
John B Sanfilippo & Son Inc. | 25,916 | 2,601 | |
* | Sovos Brands Inc. | 114,106 | 2,556 |
Fresh Del Monte Produce Inc. | 98,504 | 2,517 | |
1 | Dole plc | 207,003 | 2,467 |
* | Vita Coco Co. Inc. | 82,306 | 2,328 |
SpartanNash Co. | 100,489 | 2,187 |
Shares | Market Value• ($000) | ||
* | USANA Health Sciences Inc. | 32,714 | 2,103 |
*,1 | Beyond Meat Inc. | 170,582 | 2,013 |
Calavo Growers Inc. | 49,934 | 1,646 | |
* | Duckhorn Portfolio Inc. | 126,700 | 1,576 |
* | Beauty Health Co. | 236,311 | 1,456 |
ACCO Brands Corp. | 266,836 | 1,422 | |
* | Mission Produce Inc. | 139,889 | 1,332 |
Turning Point Brands Inc. | 49,603 | 1,221 | |
* | SunOpta Inc. | 263,117 | 1,155 |
* | Vital Farms Inc. | 88,537 | 1,043 |
Oil-Dri Corp. of America | 14,289 | 963 | |
*,1 | Westrock Coffee Co. | 81,116 | 814 |
Limoneira Co. | 50,000 | 771 | |
* | Seneca Foods Corp. Class A | 15,300 | 738 |
PetMed Express Inc. | 58,604 | 660 | |
* | Nature's Sunshine Products Inc. | 37,616 | 632 |
* | HF Foods Group Inc. | 117,354 | 555 |
* | GrowGeneration Corp. | 170,776 | 555 |
Village Super Market Inc. Class A | 24,407 | 550 | |
*,1 | Brookfield Realty Capital Corp. Class A | 106,411 | 481 |
Alico Inc. | 20,384 | 480 | |
*,1 | Waldencast plc Class A | 57,083 | 449 |
Natural Grocers by Vitamin Cottage Inc. | 27,683 | 349 | |
* | Benson Hill Inc. | 494,323 | 316 |
* | Zevia PBC Class A | 71,226 | 183 |
*,1 | Forafric Global plc | 14,899 | 166 |
206,343 | |||
Energy (8.2%) | |||
Matador Resources Co. | 327,219 | 20,778 | |
ChampionX Corp. | 574,289 | 20,726 | |
Chord Energy Corp. | 120,676 | 19,489 | |
Murphy Oil Corp. | 428,965 | 19,475 | |
* | Weatherford International plc | 205,484 | 18,189 |
Civitas Resources Inc. | 199,880 | 16,434 | |
Noble Corp. plc | 310,789 | 16,391 | |
PBF Energy Inc. Class A | 335,810 | 15,746 | |
SM Energy Co. | 346,726 | 14,670 | |
* | Valaris Ltd. | 177,254 | 13,351 |
* | Denbury Inc. | 145,123 | 13,290 |
Equitrans Midstream Corp. | 1,261,643 | 12,112 | |
Magnolia Oil & Gas Corp. Class A | 529,290 | 12,068 | |
Helmerich & Payne Inc. | 290,059 | 11,599 | |
California Resources Corp. | 207,254 | 11,573 | |
Arcosa Inc. | 140,113 | 10,960 | |
* | Array Technologies Inc. | 437,534 | 10,881 |
* | CNX Resources Corp. | 470,315 | 10,512 |
Permian Resources Corp. | 733,360 | 10,399 | |
Cactus Inc. Class A | 186,739 | 9,961 | |
* | Shoals Technologies Group Inc. Class A | 494,636 | 9,734 |
* | Kosmos Energy Ltd. | 1,316,892 | 9,587 |
Northern Oil and Gas Inc. | 216,913 | 9,073 | |
* | Tidewater Inc. | 137,215 | 8,923 |
Patterson-UTI Energy Inc. | 599,978 | 8,484 | |
CONSOL Energy Inc. | 97,936 | 8,426 | |
Liberty Energy Inc. | 493,856 | 7,877 | |
Peabody Energy Corp. | 360,134 | 7,772 |
Shares | Market Value• ($000) | ||
Alpha Metallurgical Resources Inc. | 37,459 | 7,598 | |
* | Seadrill Ltd. | 145,817 | 7,094 |
* | Callon Petroleum Co. | 176,859 | 6,938 |
Arch Resources Inc. | 52,797 | 6,895 | |
* | Oceaneering International Inc. | 290,227 | 6,614 |
Golar LNG Ltd. | 292,454 | 6,463 | |
* | Expro Group Holdings NV | 254,818 | 5,991 |
* | NexTier Oilfield Solutions Inc. | 560,093 | 5,943 |
Sitio Royalties Corp. Class A | 233,397 | 5,928 | |
Warrior Met Coal Inc. | 149,446 | 5,912 | |
* | Talos Energy Inc. | 323,095 | 5,564 |
* | Par Pacific Holdings Inc. | 159,542 | 5,480 |
* | NEXTracker Inc. Class A | 125,840 | 5,300 |
* | Green Plains Inc. | 168,173 | 5,220 |
Archrock Inc. | 401,525 | 5,136 | |
Delek US Holdings Inc. | 192,200 | 4,949 | |
*,1 | Borr Drilling Ltd. | 661,475 | 4,624 |
* | Diamond Offshore Drilling Inc. | 294,208 | 4,375 |
* | Helix Energy Solutions Group Inc. | 414,773 | 4,206 |
* | Ameresco Inc. Class A | 92,626 | 4,028 |
World Kinect Corp. | 178,471 | 3,909 | |
* | NOW Inc. | 316,454 | 3,535 |
* | Gulfport Energy Corp. | 28,991 | 3,421 |
* | Earthstone Energy Inc. Class A | 165,012 | 3,363 |
Core Laboratories Inc. | 135,411 | 3,255 | |
1 | Comstock Resources Inc. | 265,311 | 3,253 |
*,1 | Fluence Energy Inc. | 113,719 | 2,996 |
* | Vital Energy Inc. | 48,808 | 2,943 |
* | Nabors Industries Ltd. (XNYS) | 26,411 | 2,923 |
CVR Energy Inc. | 85,646 | 2,801 | |
* | ProPetro Holding Corp. | 285,060 | 2,748 |
* | Dril-Quip Inc. | 98,462 | 2,716 |
* | MRC Global Inc. | 241,513 | 2,251 |
SunCoke Energy Inc. | 240,485 | 2,237 | |
* | SilverBow Resources Inc. | 50,902 | 2,178 |
*,1 | Stem Inc. | 409,559 | 2,085 |
* | TETRA Technologies Inc. | 360,974 | 1,982 |
Select Water Solutions Inc. | 245,279 | 1,975 | |
RPC Inc. | 244,880 | 1,957 | |
* | Bristow Group Inc. | 68,063 | 1,885 |
Berry Corp. | 219,840 | 1,884 | |
* | Montauk Renewables Inc. | 192,332 | 1,837 |
*,1 | SunPower Corp. | 251,311 | 1,799 |
* | REX American Resources Corp. | 44,684 | 1,765 |
1 | Kinetik Holdings Inc. | 49,564 | 1,740 |
* | Tellurian Inc. | 1,533,248 | 1,717 |
* | Centrus Energy Corp. Class A | 35,510 | 1,685 |
Vitesse Energy Inc. | 72,319 | 1,681 | |
*,1 | FuelCell Energy Inc. | 1,178,864 | 1,650 |
1 | Crescent Energy Co. Class A | 110,469 | 1,506 |
SandRidge Energy Inc. | 92,132 | 1,473 | |
* | Oil States International Inc. | 182,259 | 1,429 |
* | DMC Global Inc. | 56,172 | 1,349 |
* | Newpark Resources Inc. | 220,019 | 1,316 |
VAALCO Energy Inc. | 311,143 | 1,288 |
Shares | Market Value• ($000) | ||
* | W&T Offshore Inc. | 284,039 | 1,159 |
*,1 | Maxeon Solar Technologies Ltd. | 73,193 | 1,154 |
Atlas Energy Solutions Inc. Class A | 47,309 | 1,007 | |
Solaris Oilfield Infrastructure Inc. Class A | 93,485 | 983 | |
*,1 | Solid Power Inc. | 449,945 | 954 |
*,1 | Energy Vault Holdings Inc. | 285,176 | 910 |
*,1 | Gevo Inc. | 679,029 | 890 |
Riley Exploration Permian Inc. | 25,777 | 863 | |
*,1 | EVgo Inc. | 208,103 | 837 |
Enviva Inc. | 90,972 | 837 | |
* | SEACOR Marine Holdings Inc. | 70,225 | 807 |
* | ProFrac Holding Corp. Class A | 70,455 | 775 |
Evolution Petroleum Corp. | 90,036 | 762 | |
* | Hallador Energy Co. | 66,673 | 716 |
* | Amplify Energy Corp. | 103,577 | 677 |
* | Forum Energy Technologies Inc. | 28,049 | 664 |
* | Ring Energy Inc. | 342,398 | 647 |
* | TPI Composites Inc. | 119,557 | 604 |
1 | Granite Ridge Resources Inc. | 74,188 | 549 |
*,1 | NextDecade Corp. | 87,436 | 531 |
Ranger Energy Services Inc. | 44,310 | 528 | |
1 | Ramaco Resources Inc. Class A | 64,209 | 503 |
1 | HighPeak Energy Inc. | 30,308 | 446 |
NACCO Industries Inc. Class A | 11,936 | 389 | |
* | KLX Energy Services Holdings Inc. | 36,168 | 376 |
*,1 | ESS Tech Inc. | 260,350 | 372 |
* | FTC Solar Inc. | 181,548 | 341 |
* | Mammoth Energy Services Inc. | 66,497 | 308 |
* | Empire Petroleum Corp. | 28,922 | 253 |
1 | Ramaco Resources Inc. Class B | 20,561 | 223 |
* | PrimeEnergy Resources Corp. | 2,207 | 214 |
* | Kodiak Gas Services Inc. | 7,798 | 143 |
*,1 | Verde Clean Fuels Inc. | 12,169 | 51 |
* | Baytex Energy Corp. | 1 | — |
571,743 | |||
Financials (14.8%) | |||
Selective Insurance Group Inc. | 173,725 | 17,235 | |
SouthState Corp. | 219,739 | 15,887 | |
Essent Group Ltd. | 305,405 | 15,337 | |
Old National Bancorp | 845,513 | 12,903 | |
Radian Group Inc. | 453,881 | 12,291 | |
Home BancShares Inc. | 550,462 | 12,209 | |
Cadence Bank | 526,590 | 12,048 | |
* | American Equity Investment Life Holding Co. | 224,384 | 12,045 |
Valley National Bancorp | 1,245,698 | 11,436 | |
United Bankshares Inc. | 377,848 | 11,366 | |
1 | Blackstone Mortgage Trust Inc. Class A | 497,769 | 10,961 |
* | Mr Cooper Group Inc. | 192,450 | 10,904 |
Shares | Market Value• ($000) | ||
First Financial Bankshares Inc. | 376,731 | 10,820 | |
Hancock Whitney Corp. | 250,747 | 10,343 | |
Hamilton Lane Inc. Class A | 105,526 | 9,792 | |
Glacier Bancorp Inc. | 321,934 | 9,726 | |
FirstCash Holdings Inc. | 108,795 | 9,718 | |
Moelis & Co. Class A | 193,004 | 9,150 | |
United Community Banks Inc. | 333,508 | 9,005 | |
*,2 | Focus Financial Partners Inc. Class A | 168,810 | 8,947 |
Jackson Financial Inc. Class A | 235,150 | 8,842 | |
* | Enstar Group Ltd. | 34,465 | 8,730 |
* | Texas Capital Bancshares Inc. | 138,187 | 8,628 |
1 | Arbor Realty Trust Inc. | 518,517 | 8,276 |
ServisFirst Bancshares Inc. | 147,057 | 8,241 | |
* | Genworth Financial Inc. Class A | 1,401,608 | 8,115 |
UMB Financial Corp. | 127,797 | 8,078 | |
Walker & Dunlop Inc. | 91,843 | 7,838 | |
Ameris Bancorp | 191,088 | 7,787 | |
CNO Financial Group Inc. | 328,251 | 7,681 | |
Associated Banc-Corp. | 437,561 | 7,583 | |
Piper Sandler Cos. | 50,115 | 7,466 | |
Community Bank System Inc. | 153,685 | 7,308 | |
Cathay General Bancorp | 200,886 | 7,158 | |
First BanCorp (XNYS) | 512,566 | 7,104 | |
* | Axos Financial Inc. | 164,061 | 7,069 |
International Bancshares Corp. | 155,298 | 6,954 | |
WSFS Financial Corp. | 176,771 | 6,947 | |
Independent Bank Corp. (XNGS) | 127,587 | 6,892 | |
Artisan Partners Asset Management Inc. Class A | 177,233 | 6,809 | |
* | NMI Holdings Inc. Class A | 236,769 | 6,776 |
CVB Financial Corp. | 384,907 | 6,720 | |
*,1 | Upstart Holdings Inc. | 207,997 | 6,691 |
Simmons First National Corp. Class A | 364,626 | 6,498 | |
Atlantic Union Bankshares Corp. | 216,843 | 6,438 | |
Pacific Premier Bancorp Inc. | 274,889 | 6,328 | |
Fulton Financial Corp. | 469,689 | 6,261 | |
First Interstate BancSystem Inc. Class A | 238,477 | 6,179 | |
*,1 | Marathon Digital Holdings Inc. | 485,800 | 6,107 |
Bank of Hawaii Corp. | 113,408 | 6,095 | |
BancFirst Corp. | 63,599 | 6,079 | |
Eastern Bankshares Inc. | 448,480 | 6,037 | |
Seacoast Banking Corp. of Florida | 242,823 | 5,733 | |
* | Bancorp Inc. | 154,571 | 5,674 |
First Financial Bancorp | 272,174 | 5,656 | |
BankUnited Inc. | 215,287 | 5,651 | |
PJT Partners Inc. Class A | 70,287 | 5,552 | |
PennyMac Financial Services Inc. | 73,750 | 5,293 | |
*,1 | Riot Platforms Inc. | 461,869 | 5,242 |
Shares | Market Value• ($000) | ||
Washington Federal Inc. | 188,835 | 5,133 | |
First Merchants Corp. | 170,543 | 5,089 | |
Ready Capital Corp. | 462,916 | 5,055 | |
Cohen & Steers Inc. | 75,094 | 4,895 | |
* | StoneX Group Inc. | 51,583 | 4,843 |
StepStone Group Inc. Class A | 156,067 | 4,818 | |
Towne Bank | 202,485 | 4,779 | |
Navient Corp. | 267,183 | 4,716 | |
NBT Bancorp Inc. | 132,386 | 4,557 | |
* | BRP Group Inc. Class A | 171,078 | 4,549 |
BGC Group Inc. Class A | 908,494 | 4,488 | |
Apollo Commercial Real Estate Finance Inc. | 409,182 | 4,468 | |
Renasant Corp. | 159,646 | 4,446 | |
Federal Agricultural Mortgage Corp. Class C | 26,354 | 4,436 | |
* | Enova International Inc. | 87,918 | 4,435 |
Independent Bank Group Inc. | 104,231 | 4,399 | |
* | Goosehead Insurance Inc. Class A | 62,113 | 4,339 |
Banner Corp. | 98,892 | 4,307 | |
WesBanco Inc. | 166,905 | 4,233 | |
Bank of NT Butterfield & Son Ltd. | 144,879 | 4,219 | |
Park National Corp. | 41,379 | 4,211 | |
Virtus Investment Partners Inc. | 20,031 | 4,148 | |
* | Triumph Financial Inc. | 64,300 | 4,130 |
Hilltop Holdings Inc. | 135,026 | 4,103 | |
Chimera Investment Corp. | 672,586 | 4,069 | |
OFG Bancorp | 134,780 | 4,065 | |
Enterprise Financial Services Corp. | 104,947 | 4,063 | |
Trustmark Corp. | 175,945 | 4,054 | |
Northwest Bancshares Inc. | 368,401 | 4,052 | |
* | Cannae Holdings Inc. | 206,107 | 4,046 |
City Holding Co. | 44,012 | 4,021 | |
Pathward Financial Inc. | 79,152 | 3,900 | |
First Commonwealth Financial Corp. | 296,107 | 3,870 | |
Nelnet Inc. Class A | 42,135 | 3,870 | |
Two Harbors Investment Corp. | 280,311 | 3,860 | |
Compass Diversified Holdings | 181,925 | 3,757 | |
Heartland Financial USA Inc. | 121,773 | 3,731 | |
Lakeland Financial Corp. | 71,573 | 3,731 | |
* | Palomar Holdings Inc. | 70,562 | 3,599 |
Stock Yards Bancorp Inc. | 78,207 | 3,582 | |
Ladder Capital Corp. | 326,684 | 3,580 | |
Stewart Information Services Corp. | 77,143 | 3,573 | |
Provident Financial Services Inc. | 211,583 | 3,487 | |
PennyMac Mortgage Investment Trust | 254,982 | 3,419 | |
First Bancorp (XNGS) | 114,724 | 3,400 | |
Horace Mann Educators Corp. | 118,559 | 3,398 | |
*,1 | Trupanion Inc. | 114,237 | 3,396 |
Franklin BSP Realty Trust Inc. REIT | 239,865 | 3,392 |
Shares | Market Value• ($000) | ||
National Bank Holdings Corp. Class A | 106,184 | 3,349 | |
Westamerica BanCorp | 75,438 | 3,322 | |
MFA Financial Inc. REIT | 295,483 | 3,239 | |
Hope Bancorp Inc. | 333,080 | 3,221 | |
S&T Bancorp Inc. | 112,215 | 3,179 | |
Live Oak Bancshares Inc. | 97,315 | 3,147 | |
* | Encore Capital Group Inc. | 67,007 | 3,140 |
FB Financial Corp. | 102,321 | 3,109 | |
TriCo Bancshares | 89,643 | 3,078 | |
Employers Holdings Inc. | 77,358 | 3,035 | |
First Busey Corp. | 149,874 | 3,027 | |
Claros Mortgage Trust Inc. | 262,885 | 2,994 | |
Stellar Bancorp Inc. | 140,427 | 2,987 | |
National Western Life Group Inc. Class A | 6,564 | 2,984 | |
* | SiriusPoint Ltd. | 264,389 | 2,924 |
WisdomTree Inc. | 399,067 | 2,913 | |
* | Customers Bancorp Inc. | 82,682 | 2,905 |
Safety Insurance Group Inc. | 41,438 | 2,854 | |
Veritex Holdings Inc. | 151,737 | 2,854 | |
AMERISAFE Inc. | 55,083 | 2,853 | |
OceanFirst Financial Corp. | 167,606 | 2,828 | |
Sandy Spring Bancorp Inc. | 126,801 | 2,820 | |
Nicolet Bankshares Inc. | 37,150 | 2,816 | |
* | Oscar Health Inc. Class A | 446,968 | 2,802 |
ARMOUR Residential REIT Inc. | 567,090 | 2,784 | |
B Riley Financial Inc. | 54,077 | 2,769 | |
ProAssurance Corp. | 156,415 | 2,765 | |
PacWest Bancorp | 347,448 | 2,762 | |
Victory Capital Holdings Inc. Class A | 80,159 | 2,759 | |
Argo Group International Holdings Ltd. | 92,424 | 2,750 | |
Berkshire Hills Bancorp Inc. | 127,495 | 2,665 | |
Redwood Trust Inc. | 327,582 | 2,624 | |
Origin Bancorp Inc. | 84,657 | 2,598 | |
BrightSpire Capital Inc. | 370,450 | 2,578 | |
Southside Bancshares Inc. | 85,034 | 2,560 | |
Peoples Bancorp Inc. | 97,980 | 2,525 | |
Ellington Financial Inc. | 187,878 | 2,512 | |
QCR Holdings Inc. | 47,774 | 2,506 | |
First Bancshares Inc. | 87,989 | 2,498 | |
New York Mortgage Trust Inc. | 261,809 | 2,492 | |
Enact Holdings Inc. | 86,886 | 2,490 | |
Lakeland Bancorp Inc. | 179,444 | 2,424 | |
Brookline Bancorp Inc. | 253,231 | 2,423 | |
Preferred Bank | 38,561 | 2,395 | |
* | Avantax Inc. | 113,874 | 2,382 |
* | Open Lending Corp. Class A | 286,291 | 2,362 |
German American Bancorp Inc. | 81,235 | 2,350 | |
1 | Patria Investments Ltd. Class A | 156,412 | 2,255 |
Mercury General Corp. | 77,169 | 2,208 | |
* | PRA Group Inc. | 111,120 | 2,165 |
1st Source Corp. | 48,316 | 2,159 | |
Dime Community Bancshares Inc. | 100,653 | 2,145 | |
* | LendingClub Corp. | 306,373 | 2,132 |
KKR Real Estate Finance Trust Inc. | 169,636 | 2,122 |
Shares | Market Value• ($000) | ||
Eagle Bancorp Inc. | 88,161 | 2,121 | |
Bank First Corp. | 27,008 | 2,097 | |
Capitol Federal Financial Inc. | 367,312 | 2,083 | |
Tompkins Financial Corp. | 39,930 | 2,074 | |
ConnectOne Bancorp Inc. | 106,668 | 2,040 | |
Dynex Capital Inc. | 155,834 | 2,020 | |
*,1 | Lemonade Inc. | 145,831 | 2,007 |
Banc of California Inc. | 156,971 | 1,967 | |
Brightsphere Investment Group Inc. | 93,883 | 1,944 | |
Premier Financial Corp. | 101,783 | 1,918 | |
Banco Latinoamericano de Comercio Exterior SA Class E | 79,286 | 1,871 | |
* | Assetmark Financial Holdings Inc. | 63,332 | 1,830 |
Old Second Bancorp Inc. | 124,954 | 1,808 | |
Heritage Financial Corp. | 99,984 | 1,722 | |
* | Ambac Financial Group Inc. | 127,597 | 1,643 |
Community Trust Bancorp Inc. | 44,755 | 1,589 | |
First Community Bankshares Inc. | 50,845 | 1,573 | |
James River Group Holdings Ltd. | 106,783 | 1,555 | |
First Mid Bancshares Inc. | 55,216 | 1,544 | |
F&G Annuities & Life Inc. | 54,088 | 1,531 | |
TrustCo Bank Corp. NY | 53,720 | 1,529 | |
Hanmi Financial Corp. | 87,789 | 1,521 | |
Byline Bancorp Inc. | 71,515 | 1,515 | |
Mercantile Bank Corp. | 45,228 | 1,510 | |
Univest Financial Corp. | 83,697 | 1,506 | |
TPG RE Finance Trust Inc. | 200,078 | 1,505 | |
P10 Inc. Class A | 124,157 | 1,496 | |
Heritage Commerce Corp. | 171,073 | 1,483 | |
* | Columbia Financial Inc. | 85,701 | 1,471 |
* | World Acceptance Corp. | 10,795 | 1,455 |
Business First Bancshares Inc. | 69,332 | 1,418 | |
Diamond Hill Investment Group Inc. | 8,338 | 1,407 | |
Amerant Bancorp Inc. | 74,525 | 1,399 | |
Horizon Bancorp Inc. | 124,617 | 1,394 | |
* | CrossFirst Bankshares Inc. | 128,640 | 1,383 |
* | Coastal Financial Corp. | 31,329 | 1,380 |
Midland States Bancorp Inc. | 61,562 | 1,367 | |
Washington Trust Bancorp Inc. | 48,792 | 1,366 | |
1 | Invesco Mortgage Capital Inc. REIT | 121,371 | 1,365 |
Camden National Corp. | 41,202 | 1,351 | |
Peapack-Gladstone Financial Corp. | 49,332 | 1,345 | |
Farmers National Banc Corp. | 105,747 | 1,343 | |
Merchants Bancorp | 45,905 | 1,339 | |
1 | Brookfield Business Corp. Class A | 75,091 | 1,326 |
Great Southern Bancorp Inc. | 26,109 | 1,318 | |
Central Pacific Financial Corp. | 76,783 | 1,303 | |
Perella Weinberg Partners | 123,312 | 1,298 |
Shares | Market Value• ($000) | ||
Northfield Bancorp Inc. | 119,868 | 1,263 | |
First Financial Corp. | 34,064 | 1,251 | |
Kearny Financial Corp. | 165,787 | 1,228 | |
Tiptree Inc. | 69,536 | 1,225 | |
HarborOne Bancorp Inc. | 121,491 | 1,211 | |
1 | NewtekOne Inc. | 67,464 | 1,208 |
* | Metropolitan Bank Holding Corp. | 30,257 | 1,205 |
United Fire Group Inc. | 60,962 | 1,205 | |
Cambridge Bancorp | 22,012 | 1,171 | |
First Foundation Inc. | 148,540 | 1,168 | |
American National Bankshares Inc. | 29,750 | 1,166 | |
Capital City Bank Group Inc. | 38,198 | 1,165 | |
Flushing Financial Corp. | 81,615 | 1,152 | |
Independent Bank Corp. | 58,533 | 1,117 | |
Republic Bancorp Inc. Class A | 24,979 | 1,110 | |
* | MBIA Inc. | 140,100 | 1,105 |
1 | Orchid Island Capital Inc. | 114,504 | 1,098 |
CNB Financial Corp. | 60,060 | 1,094 | |
Equity Bancshares Inc. Class A | 43,098 | 1,078 | |
Bar Harbor Bankshares | 43,321 | 1,076 | |
Southern Missouri Bancorp Inc. | 24,967 | 1,056 | |
SmartFinancial Inc. | 45,995 | 1,047 | |
Metrocity Bankshares Inc. | 52,947 | 1,032 | |
Alerus Financial Corp. | 52,809 | 1,030 | |
HomeTrust Bancshares Inc. | 44,625 | 1,020 | |
1 | HCI Group Inc. | 18,652 | 994 |
* | Carter Bankshares Inc. | 68,668 | 983 |
Shore Bancshares Inc. | 86,826 | 962 | |
Northeast Bank | 22,485 | 955 | |
Universal Insurance Holdings Inc. | 73,501 | 931 | |
Esquire Financial Holdings Inc. | 19,886 | 930 | |
1 | Burke & Herbert Financial Services Corp. | 18,679 | 924 |
GCM Grosvenor Inc. Class A | 120,629 | 922 | |
Amalgamated Financial Corp. | 51,420 | 921 | |
South Plains Financial Inc. | 34,970 | 917 | |
Mid Penn Bancorp Inc. | 41,352 | 905 | |
MidWestOne Financial Group Inc. | 41,040 | 877 | |
West BanCorp Inc. | 47,199 | 874 | |
Peoples Financial Services Corp. | 19,953 | 870 | |
Bank of Marin Bancorp | 45,721 | 860 | |
Hingham Institution for Savings | 4,306 | 858 | |
1 | NexPoint Diversified Real Estate Trust | 90,082 | 852 |
Sculptor Capital Management Inc. | 72,692 | 845 | |
* | Greenlight Capital Re Ltd. Class A | 75,288 | 830 |
Five Star Bancorp | 37,214 | 814 | |
Sierra Bancorp | 40,317 | 802 | |
First of Long Island Corp. | 60,867 | 795 | |
Enterprise Bancorp Inc. | 27,397 | 793 | |
Summit Financial Group Inc. | 31,921 | 785 |
Shares | Market Value• ($000) | ||
Citizens & Northern Corp. | 43,228 | 781 | |
MVB Financial Corp. | 33,173 | 781 | |
Granite Point Mortgage Trust Inc. | 145,910 | 779 | |
*,1 | Forge Global Holdings Inc. | 313,697 | 769 |
Civista Bancshares Inc. | 45,093 | 766 | |
Financial Institutions Inc. | 43,327 | 758 | |
ACNB Corp. | 23,818 | 758 | |
Farmers & Merchants Bancorp Inc. | 39,075 | 746 | |
Arrow Financial Corp. | 41,943 | 739 | |
Capstar Financial Holdings Inc. | 55,980 | 731 | |
* | Skyward Specialty Insurance Group Inc. | 29,716 | 723 |
Chicago Atlantic Real Estate Finance Inc. | 47,687 | 721 | |
HBT Financial Inc. | 38,366 | 717 | |
* | Third Coast Bancshares Inc. | 37,618 | 708 |
First Bank | 61,746 | 706 | |
First Business Financial Services Inc. | 22,391 | 706 | |
Guaranty Bancshares Inc. | 24,463 | 706 | |
Orange County Bancorp Inc. | 14,935 | 694 | |
First Bancorp Inc. (XNGS) | 27,950 | 688 | |
Macatawa Bank Corp. | 75,130 | 688 | |
Citizens Financial Services Inc. | 12,469 | 683 | |
Home Bancorp Inc. | 20,726 | 677 | |
Northrim BanCorp Inc. | 16,031 | 666 | |
Waterstone Financial Inc. | 52,669 | 654 | |
* | Blue Foundry Bancorp | 70,634 | 653 |
RBB Bancorp | 47,833 | 652 | |
Red River Bancshares Inc. | 13,778 | 651 | |
BayCom Corp. | 33,461 | 645 | |
Donegal Group Inc. Class A | 43,829 | 640 | |
AFC Gamma Inc. | 47,865 | 635 | |
John Marshall Bancorp Inc. | 35,886 | 634 | |
Fidelity D&D Bancorp Inc. | 13,355 | 633 | |
Orrstown Financial Services Inc. | 29,201 | 631 | |
Regional Management Corp. | 22,520 | 619 | |
* | Southern First Bancshares Inc. | 21,886 | 615 |
Timberland Bancorp Inc. | 21,549 | 611 | |
* | Bridgewater Bancshares Inc. | 58,331 | 610 |
Northeast Community Bancorp Inc. | 38,267 | 607 | |
Greene County Bancorp Inc. | 20,240 | 583 | |
Middlefield Banc Corp. | 22,401 | 581 | |
Norwood Financial Corp. | 21,089 | 572 | |
* | FVCBankcorp Inc. | 46,836 | 570 |
* | LendingTree Inc. | 29,954 | 566 |
Plumas Bancorp | 16,051 | 561 | |
FS Bancorp Inc. | 18,880 | 560 | |
Codorus Valley Bancorp Inc. | 27,435 | 556 | |
* | Ocwen Financial Corp. | 18,335 | 555 |
* | eHealth Inc. | 69,690 | 545 |
Capital Bancorp Inc. | 28,084 | 538 |
Shares | Market Value• ($000) | ||
Silvercrest Asset Management Group Inc. Class A | 27,298 | 526 | |
Penns Woods Bancorp Inc. | 20,135 | 524 | |
Parke Bancorp Inc. | 30,236 | 522 | |
Unity Bancorp Inc. | 21,365 | 516 | |
Investors Title Co. | 3,563 | 513 | |
Primis Financial Corp. | 57,817 | 513 | |
C&F Financial Corp. | 9,437 | 503 | |
HomeStreet Inc. | 52,867 | 500 | |
PCB Bancorp | 31,176 | 500 | |
Southern States Bancshares Inc. | 21,422 | 491 | |
BCB Bancorp Inc. | 43,096 | 490 | |
Colony Bankcorp Inc. | 47,079 | 490 | |
ChoiceOne Financial Services Inc. | 19,995 | 481 | |
Oak Valley Bancorp | 19,165 | 481 | |
* | Ponce Financial Group Inc. | 58,369 | 466 |
* | First Western Financial Inc. | 22,818 | 464 |
MainStreet Bancshares Inc. | 19,905 | 450 | |
LCNB Corp. | 30,126 | 449 | |
Virginia National Bankshares Corp. | 13,520 | 447 | |
Bankwell Financial Group Inc. | 17,020 | 443 | |
Crawford & Co. Class A | 41,322 | 443 | |
* | Maiden Holdings Ltd. | 259,163 | 443 |
Ames National Corp. | 24,596 | 442 | |
*,1 | AlTi Global Inc. | 60,099 | 439 |
National Bankshares Inc. | 16,555 | 436 | |
Princeton Bancorp Inc. | 14,503 | 425 | |
Evans Bancorp Inc. | 14,926 | 423 | |
*,1 | American Coastal Insurance Corp. Class C | 56,020 | 420 |
Central Valley Community Bancorp | 28,534 | 417 | |
Blue Ridge Bankshares Inc. | 51,124 | 405 | |
Nexpoint Real Estate Finance Inc. | 23,601 | 403 | |
ESSA Bancorp Inc. | 24,821 | 395 | |
Chemung Financial Corp. | 10,030 | 394 | |
First Community Corp. | 21,063 | 364 | |
* | Sterling Bancorp Inc. | 60,201 | 355 |
* | USCB Financial Holdings Inc. | 29,970 | 329 |
1 | Angel Oak Mortgage REIT Inc. | 33,637 | 314 |
* | Velocity Financial Inc. | 25,258 | 313 |
* | Pioneer Bancorp Inc. | 34,091 | 307 |
* | NI Holdings Inc. | 23,616 | 301 |
* | Hippo Holdings Inc. | 29,864 | 298 |
* | Security National Financial Corp. Class A | 35,640 | 292 |
*,1 | Bakkt Holdings Inc. | 198,831 | 274 |
Bank7 Corp. | 10,658 | 268 | |
* | Kingsway Financial Services Inc. | 30,325 | 268 |
Luther Burbank Corp. | 29,240 | 266 | |
*,1 | Consumer Portfolio Services Inc. | 26,310 | 244 |
* | Finance of America Cos. Inc. Class A | 152,492 | 217 |
Shares | Market Value• ($000) | ||
* | GoHealth Inc. Class A | 11,177 | 178 |
*,1 | SWK Holdings Corp. | 10,902 | 172 |
Value Line Inc. | 2,400 | 128 | |
MarketWise Inc. | 90,426 | 122 | |
* | OppFi Inc. | 29,881 | 77 |
1,023,308 | |||
Health Care (14.9%) | |||
* | Option Care Health Inc. | 491,105 | 17,105 |
* | Halozyme Therapeutics Inc. | 385,430 | 16,404 |
* | HealthEquity Inc. | 242,727 | 16,396 |
Ensign Group Inc. | 157,355 | 15,770 | |
* | Intra-Cellular Therapies Inc. | 270,169 | 15,000 |
* | Neogen Corp. | 629,214 | 14,547 |
* | Alkermes plc | 478,890 | 13,979 |
* | Reata Pharmaceuticals Inc. Class A | 82,474 | 13,938 |
* | Vaxcyte Inc. | 265,091 | 13,764 |
* | Lantheus Holdings Inc. | 196,459 | 13,446 |
* | Haemonetics Corp. | 144,747 | 12,988 |
* | Guardant Health Inc. | 320,625 | 12,530 |
* | ImmunoGen Inc. | 699,785 | 11,085 |
* | Merit Medical Systems Inc. | 164,108 | 10,713 |
* | Amicus Therapeutics Inc. | 810,376 | 10,389 |
* | Glaukos Corp. | 135,148 | 10,155 |
* | Inari Medical Inc. | 149,445 | 9,956 |
* | REVOLUTION Medicines Inc. | 292,502 | 9,936 |
* | Bridgebio Pharma Inc. | 330,133 | 9,874 |
CONMED Corp. | 88,572 | 9,872 | |
* | Intellia Therapeutics Inc. | 254,705 | 9,546 |
* | ACADIA Pharmaceuticals Inc. | 349,468 | 9,443 |
* | Cytokinetics Inc. | 269,299 | 9,409 |
* | iRhythm Technologies Inc. | 88,480 | 9,146 |
Select Medical Holdings Corp. | 299,758 | 8,756 | |
* | Blueprint Medicines Corp. | 175,529 | 8,752 |
* | Inmode Ltd. | 223,323 | 8,730 |
* | LivaNova plc | 156,417 | 8,689 |
* | Progyny Inc. | 226,609 | 8,462 |
* | Prestige Consumer Healthcare Inc. | 143,718 | 8,383 |
* | Insmed Inc. | 381,256 | 8,346 |
* | Pacific Biosciences of California Inc. | 727,040 | 8,201 |
* | Integer Holdings Corp. | 95,941 | 8,185 |
* | Arrowhead Pharmaceuticals Inc. | 295,705 | 8,173 |
* | Axonics Inc. | 141,509 | 8,108 |
* | Evolent Health Inc. Class A | 317,843 | 8,108 |
* | PTC Therapeutics Inc. | 204,420 | 8,075 |
* | Denali Therapeutics Inc. | 341,560 | 7,887 |
* | Krystal Biotech Inc. | 62,357 | 7,762 |
* | Axsome Therapeutics Inc. | 95,014 | 7,677 |
Patterson Cos. Inc. | 254,057 | 7,632 | |
* | Corcept Therapeutics Inc. | 231,417 | 7,574 |
* | Omnicell Inc. | 129,647 | 7,372 |
* | Madrigal Pharmaceuticals Inc. | 39,332 | 7,080 |
* | Surgery Partners Inc. | 195,193 | 7,078 |
* | Akero Therapeutics Inc. | 129,781 | 6,441 |
* | Prothena Corp. plc | 119,795 | 6,328 |
* | STAAR Surgical Co. | 140,522 | 6,093 |
Shares | Market Value• ($000) | ||
* | AtriCure Inc. | 134,718 | 6,083 |
* | TransMedics Group Inc. | 91,646 | 6,015 |
* | Amphastar Pharmaceuticals Inc. | 109,716 | 5,849 |
* | Veracyte Inc. | 210,627 | 5,561 |
* | NeoGenomics Inc. | 367,068 | 5,517 |
* | CorVel Corp. | 25,162 | 5,446 |
* | Dynavax Technologies Corp. | 374,738 | 5,381 |
* | Privia Health Group Inc. | 195,319 | 5,127 |
* | Morphic Holding Inc. | 87,641 | 4,827 |
* | RadNet Inc. | 142,653 | 4,766 |
* | SpringWorks Therapeutics Inc. | 168,619 | 4,752 |
* | Apollo Medical Holdings Inc. | 123,863 | 4,689 |
* | Pacira BioSciences Inc. | 131,685 | 4,648 |
* | Ideaya Biosciences Inc. | 156,845 | 4,605 |
* | Beam Therapeutics Inc. | 196,873 | 4,564 |
* | Ventyx Biosciences Inc. | 135,269 | 4,532 |
* | Supernus Pharmaceuticals Inc. | 142,127 | 4,525 |
* | Vericel Corp. | 137,762 | 4,523 |
* | Agios Pharmaceuticals Inc. | 160,108 | 4,392 |
* | Cerevel Therapeutics Holdings Inc. | 179,037 | 4,243 |
* | Revance Therapeutics Inc. | 240,168 | 4,234 |
* | Phreesia Inc. | 147,186 | 4,190 |
* | Myriad Genetics Inc. | 233,618 | 4,170 |
* | TG Therapeutics Inc. | 396,497 | 4,151 |
* | Arvinas Inc. | 141,992 | 4,006 |
* | Addus HomeCare Corp. | 45,260 | 3,969 |
* | Arcellx Inc. | 109,662 | 3,930 |
* | Catalyst Pharmaceuticals Inc. | 277,816 | 3,901 |
* | Cymabay Therapeutics Inc. | 283,318 | 3,896 |
* | BioCryst Pharmaceuticals Inc. | 545,829 | 3,881 |
* | Rhythm Pharmaceuticals Inc. | 148,343 | 3,858 |
* | Viking Therapeutics Inc. | 277,163 | 3,828 |
US Physical Therapy Inc. | 37,518 | 3,783 | |
* | Zentalis Pharmaceuticals Inc. | 142,037 | 3,773 |
* | Celldex Therapeutics Inc. | 133,873 | 3,735 |
* | Xencor Inc. | 167,177 | 3,675 |
* | Alphatec Holdings Inc. | 222,662 | 3,641 |
* | Iovance Biotherapeutics Inc. | 601,379 | 3,632 |
* | Owens & Minor Inc. | 213,829 | 3,614 |
* | Twist Bioscience Corp. | 164,093 | 3,608 |
* | UFP Technologies Inc. | 20,498 | 3,602 |
* | PROCEPT BioRobotics Corp. | 104,049 | 3,549 |
* | Immunovant Inc. | 155,825 | 3,539 |
* | Aurinia Pharmaceuticals Inc. | 389,869 | 3,536 |
* | Ironwood Pharmaceuticals Inc. | 399,796 | 3,518 |
* | Syndax Pharmaceuticals Inc. | 189,900 | 3,515 |
* | Geron Corp. (XNGS) | 1,434,057 | 3,485 |
* | Harmony Biosciences Holdings Inc. | 95,276 | 3,454 |
* | Pediatrix Medical Group Inc. | 242,633 | 3,428 |
Shares | Market Value• ($000) | ||
* | MannKind Corp. | 742,121 | 3,421 |
* | Recursion Pharmaceuticals Inc. Class A | 392,885 | 3,418 |
LeMaitre Vascular Inc. | 57,010 | 3,296 | |
* | Amylyx Pharmaceuticals Inc. | 147,062 | 3,171 |
* | Ligand Pharmaceuticals Inc. | 48,059 | 3,161 |
* | Nuvalent Inc. Class A | 69,301 | 3,158 |
* | Arcus Biosciences Inc. | 152,690 | 3,130 |
* | Protagonist Therapeutics Inc. | 156,634 | 3,104 |
* | Biohaven Ltd. | 168,326 | 3,079 |
* | Vir Biotechnology Inc. | 242,608 | 3,071 |
* | 89bio Inc. | 178,558 | 3,060 |
Embecta Corp. | 166,657 | 3,055 | |
* | Sage Therapeutics Inc. | 152,388 | 3,048 |
* | Travere Therapeutics Inc. | 211,463 | 3,020 |
* | Warby Parker Inc. Class A | 245,202 | 2,945 |
* | NextGen Healthcare Inc. | 156,629 | 2,852 |
* | Avanos Medical Inc. | 133,710 | 2,813 |
* | Pliant Therapeutics Inc. | 163,709 | 2,763 |
* | Quanterix Corp. | 101,899 | 2,731 |
* | Relay Therapeutics Inc. | 262,210 | 2,680 |
* | Crinetics Pharmaceuticals Inc. | 153,589 | 2,660 |
* | Cytek Biosciences Inc. | 349,013 | 2,652 |
* | Ardelyx Inc. | 612,388 | 2,609 |
* | Accolade Inc. | 191,300 | 2,581 |
* | AdaptHealth Corp. | 212,859 | 2,539 |
* | Rocket Pharmaceuticals Inc. | 161,342 | 2,525 |
* | LifeStance Health Group Inc. | 307,141 | 2,522 |
Healthcare Services Group Inc. | 215,371 | 2,488 | |
* | MiMedx Group Inc. | 329,700 | 2,446 |
* | Cogent Biosciences Inc. | 198,427 | 2,423 |
*,1 | Cassava Sciences Inc. | 114,434 | 2,400 |
* | Replimune Group Inc. | 117,126 | 2,392 |
* | ANI Pharmaceuticals Inc. | 37,068 | 2,387 |
* | Hims & Hers Health Inc. | 353,710 | 2,373 |
National HealthCare Corp. | 35,929 | 2,370 | |
* | Collegium Pharmaceutical Inc. | 99,707 | 2,335 |
* | ADMA Biologics Inc. | 605,779 | 2,332 |
* | SI-BONE Inc. | 100,112 | 2,291 |
* | Innoviva Inc. | 179,596 | 2,290 |
* | Keros Therapeutics Inc. | 64,751 | 2,273 |
* | RxSight Inc. | 77,931 | 2,261 |
* | Adaptive Biotechnologies Corp. | 326,821 | 2,213 |
* | Varex Imaging Corp. | 112,420 | 2,211 |
* | Viridian Therapeutics Inc. | 121,329 | 2,205 |
* | Orthofix Medical Inc. | 101,237 | 2,142 |
* | Silk Road Medical Inc. | 110,481 | 2,134 |
* | Inhibrx Inc. | 99,524 | 2,130 |
* | OPKO Health Inc. | 1,160,908 | 2,124 |
* | Deciphera Pharmaceuticals Inc. | 150,908 | 2,119 |
* | Avid Bioservices Inc. | 178,436 | 2,106 |
* | EQRx Inc. | 918,445 | 2,103 |
* | Brookdale Senior Living Inc. | 490,490 | 2,085 |
* | Kymera Therapeutics Inc. | 109,290 | 2,085 |
* | REGENXBIO Inc. | 117,166 | 2,074 |
Shares | Market Value• ($000) | ||
*,1 | Point Biopharma Global Inc. | 260,295 | 2,072 |
* | Nevro Corp. | 102,203 | 2,048 |
* | Arcturus Therapeutics Holdings Inc. | 67,121 | 2,037 |
* | Mirum Pharmaceuticals Inc. | 77,021 | 2,036 |
* | Treace Medical Concepts Inc. | 130,088 | 2,023 |
*,1 | Novavax Inc. | 250,900 | 2,007 |
* | DocGo Inc. | 223,638 | 2,002 |
* | Outset Medical Inc. | 142,099 | 1,934 |
* | Fulgent Genetics Inc. | 58,924 | 1,930 |
* | Artivion Inc. | 113,421 | 1,919 |
* | Day One Biopharmaceuticals Inc. | 141,841 | 1,913 |
* | Health Catalyst Inc. | 160,640 | 1,878 |
* | Verve Therapeutics Inc. | 145,803 | 1,876 |
* | Kura Oncology Inc. | 187,650 | 1,863 |
* | Multiplan Corp. | 1,089,133 | 1,862 |
* | Enhabit Inc. | 145,059 | 1,858 |
Atrion Corp. | 3,980 | 1,851 | |
* | Paragon 28 Inc. | 126,484 | 1,813 |
* | Editas Medicine Inc. | 200,601 | 1,787 |
* | OrthoPediatrics Corp. | 45,785 | 1,750 |
National Research Corp. | 41,440 | 1,732 | |
*,1 | Vera Therapeutics Inc. | 97,514 | 1,725 |
*,1 | Theravance Biopharma Inc. | 180,064 | 1,714 |
* | Rapt Therapeutics Inc. | 84,985 | 1,623 |
*,1 | Anavex Life Sciences Corp. | 202,231 | 1,598 |
* | Kiniksa Pharmaceuticals Ltd. Class A | 90,579 | 1,561 |
*,1 | OmniAb Inc. | 268,929 | 1,560 |
* | Avidity Biosciences Inc. | 203,599 | 1,539 |
*,1 | ProKidney Corp. | 177,495 | 1,523 |
*,1 | Prime Medicine Inc. | 114,340 | 1,514 |
* | PetIQ Inc. | 78,904 | 1,505 |
* | Aclaris Therapeutics Inc. | 200,240 | 1,498 |
HealthStream Inc. | 70,341 | 1,479 | |
* | 4D Molecular Therapeutics Inc. | 90,870 | 1,479 |
* | Surmodics Inc. | 39,761 | 1,464 |
* | Amneal Pharmaceuticals Inc. | 352,489 | 1,442 |
* | Alignment Healthcare Inc. | 245,466 | 1,434 |
* | Castle Biosciences Inc. | 71,878 | 1,433 |
*,1 | Sana Biotechnology Inc. | 267,436 | 1,431 |
* | CareDx Inc. | 150,431 | 1,401 |
* | Dyne Therapeutics Inc. | 122,920 | 1,401 |
* | OraSure Technologies Inc. | 215,179 | 1,390 |
* | Agenus Inc. | 992,327 | 1,369 |
* | BioLife Solutions Inc. | 100,765 | 1,331 |
* | Tactile Systems Technology Inc. | 67,278 | 1,275 |
* | Arcutis Biotherapeutics Inc. | 148,821 | 1,271 |
* | Community Health Systems Inc. | 363,738 | 1,229 |
* | Lyell Immunopharma Inc. | 502,715 | 1,201 |
* | Tarsus Pharmaceuticals Inc. | 68,336 | 1,197 |
* | Coherus Biosciences Inc. | 222,602 | 1,186 |
* | Avita Medical Inc. | 72,783 | 1,186 |
* | Evolus Inc. | 119,846 | 1,185 |
* | Disc Medicine Inc. | 22,378 | 1,185 |
* | ModivCare Inc. | 36,834 | 1,182 |
Shares | Market Value• ($000) | ||
* | Nurix Therapeutics Inc. | 137,666 | 1,170 |
*,1 | Bluebird Bio Inc. | 309,785 | 1,168 |
* | Harrow Health Inc. | 75,258 | 1,142 |
* | Alpine Immune Sciences Inc. | 91,842 | 1,134 |
*,1 | Zymeworks Inc. | 154,665 | 1,120 |
* | Pulmonx Corp. | 106,593 | 1,115 |
*,1 | Nano-X Imaging Ltd. | 132,784 | 1,105 |
* | AnaptysBio Inc. | 55,123 | 1,085 |
*,1 | Enliven Therapeutics Inc. | 67,709 | 1,058 |
* | Cabaletta Bio Inc. | 74,166 | 1,050 |
* | Marinus Pharmaceuticals Inc. | 144,839 | 1,030 |
*,1 | Phathom Pharmaceuticals Inc. | 71,373 | 1,027 |
* | ORIC Pharmaceuticals Inc. | 113,254 | 1,015 |
* | Aldeyra Therapeutics Inc. | 135,225 | 1,009 |
* | Pennant Group Inc. | 84,079 | 1,007 |
* | Alector Inc. | 183,473 | 1,000 |
* | American Well Corp. Class A | 703,320 | 999 |
*,1 | UroGen Pharma Ltd. | 56,641 | 990 |
iRadimed Corp. | 21,249 | 982 | |
* | Cerus Corp. | 516,762 | 977 |
* | Seres Therapeutics Inc. | 282,522 | 975 |
* | Biomea Fusion Inc. | 57,797 | 975 |
* | Caribou Biosciences Inc. | 164,930 | 971 |
* | SomaLogic Inc. | 439,491 | 971 |
* | Liquidia Corp. | 137,886 | 947 |
* | Taro Pharmaceutical Industries Ltd. | 23,627 | 936 |
* | MaxCyte Inc. | 254,622 | 932 |
* | Allogene Therapeutics Inc. | 238,696 | 929 |
* | Voyager Therapeutics Inc. | 92,349 | 925 |
*,1 | Entrada Therapeutics Inc. | 62,086 | 914 |
Utah Medical Products Inc. | 9,832 | 901 | |
* | Zimvie Inc. | 75,172 | 887 |
* | AngioDynamics Inc. | 109,657 | 881 |
* | Xeris Biopharma Holdings Inc. | 388,148 | 881 |
* | iTeos Therapeutics Inc. | 72,469 | 874 |
* | Enanta Pharmaceuticals Inc. | 58,193 | 864 |
* | Vanda Pharmaceuticals Inc. | 165,133 | 857 |
* | Ocular Therapeutix Inc. | 226,533 | 856 |
* | Sharecare Inc. | 900,933 | 854 |
* | Assertio Holdings Inc. | 258,458 | 848 |
* | Sutro Biopharma Inc. | 177,473 | 843 |
*,1 | Tango Therapeutics Inc. | 129,830 | 843 |
* | Aura Biosciences Inc. | 80,353 | 834 |
* | Agiliti Inc. | 86,093 | 831 |
* | 23andMe Holding Co. Class A | 755,868 | 831 |
Phibro Animal Health Corp. Class A | 59,438 | 829 | |
* | MacroGenics Inc. | 177,174 | 826 |
* | HilleVax Inc. | 61,888 | 826 |
* | Savara Inc. | 222,228 | 804 |
* | PMV Pharmaceuticals Inc. | 110,876 | 801 |
* | Viemed Healthcare Inc. | 99,601 | 788 |
* | KalVista Pharmaceuticals Inc. | 72,105 | 782 |
* | Olema Pharmaceuticals Inc. | 76,599 | 777 |
Shares | Market Value• ($000) | ||
* | Edgewise Therapeutics Inc. | 122,122 | 763 |
* | Accuray Inc. | 266,259 | 759 |
* | Intercept Pharmaceuticals Inc. | 69,997 | 758 |
* | EyePoint Pharmaceuticals Inc. | 76,208 | 755 |
* | Arbutus Biopharma Corp. | 370,326 | 752 |
* | Atea Pharmaceuticals Inc. | 223,737 | 752 |
* | Anika Therapeutics Inc. | 41,828 | 747 |
* | Axogen Inc. | 118,990 | 745 |
* | 2seventy bio Inc. | 143,379 | 744 |
* | WaVe Life Sciences Ltd. | 168,812 | 734 |
*,1 | Invitae Corp. | 764,476 | 706 |
*,1 | Butterfly Network Inc. | 398,146 | 705 |
* | Cullinan Oncology Inc. | 67,951 | 703 |
* | Nuvation Bio Inc. | 415,657 | 682 |
*,1 | Quipt Home Medical Corp. | 115,213 | 681 |
* | Computer Programs and Systems Inc. | 41,608 | 677 |
* | Emergent BioSolutions Inc. | 144,364 | 677 |
* | Precigen Inc. | 385,595 | 675 |
* | Humacyte Inc. | 175,740 | 673 |
*,1 | Quantum-Si Inc. | 286,604 | 671 |
* | Astria Therapeutics Inc. | 72,894 | 649 |
* | Terns Pharmaceuticals Inc. | 122,344 | 645 |
*,1 | scPharmaceuticals Inc. | 82,231 | 632 |
*,1 | Tyra Biosciences Inc. | 40,880 | 623 |
* | Generation Bio Co. | 129,248 | 618 |
* | Icosavax Inc. | 78,636 | 609 |
* | Fate Therapeutics Inc. | 241,849 | 607 |
* | Compass Therapeutics Inc. | 260,500 | 607 |
SIGA Technologies Inc. | 131,488 | 604 | |
*,1 | Omeros Corp. | 173,775 | 601 |
* | Erasca Inc. | 230,288 | 596 |
* | MeiraGTx Holdings plc | 93,084 | 585 |
* | Ovid therapeutics Inc. | 170,207 | 573 |
* | Organogenesis Holdings Inc. | 200,461 | 561 |
* | Rigel Pharmaceuticals Inc. | 488,402 | 557 |
* | CVRx Inc. | 31,778 | 551 |
* | Allakos Inc. | 189,780 | 547 |
* | Janux Therapeutics Inc. | 49,403 | 543 |
* | Cutera Inc. | 47,530 | 541 |
*,1 | Summit Therapeutics Inc. (XNMS) | 330,786 | 536 |
* | Y-mAbs Therapeutics Inc. | 104,972 | 532 |
*,1 | InfuSystem Holdings Inc. | 51,798 | 532 |
1 | Carisma Therapeutics Inc. | 76,092 | 527 |
* | Immuneering Corp. Class A | 57,886 | 522 |
* | CorMedix Inc. | 127,350 | 518 |
* | Monte Rosa Therapeutics Inc. | 87,015 | 511 |
* | Mineralys Therapeutics Inc. | 39,814 | 511 |
* | Tenaya Therapeutics Inc. | 131,236 | 508 |
*,1 | ImmunityBio Inc. | 314,649 | 507 |
* | Scholar Rock Holding Corp. | 80,943 | 506 |
* | Zevra Therapeutics Inc. | 98,992 | 502 |
* | Eagle Pharmaceuticals Inc. | 29,498 | 500 |
* | Harvard Bioscience Inc. | 111,669 | 492 |
Shares | Market Value• ($000) | ||
* | ARS Pharmaceuticals Inc. | 69,196 | 491 |
* | Lineage Cell Therapeutics Inc. | 368,344 | 486 |
*,1 | Heron Therapeutics Inc. | 294,571 | 483 |
* | CareMax Inc. | 214,500 | 478 |
* | Inozyme Pharma Inc. | 96,657 | 474 |
* | Celcuity Inc. | 49,248 | 469 |
*,1 | PDS Biotechnology Corp. | 79,802 | 468 |
* | Rallybio Corp. | 87,226 | 464 |
* | Nautilus Biotechnology Inc. | 143,171 | 462 |
* | Gritstone bio Inc. | 250,544 | 456 |
*,1 | Aerovate Therapeutics Inc. | 28,727 | 456 |
* | Lexicon Pharmaceuticals Inc. | 264,396 | 455 |
* | X4 Pharmaceuticals Inc. | 351,475 | 450 |
* | 908 Devices Inc. | 62,531 | 450 |
*,1 | Actinium Pharmaceuticals Inc. | 74,283 | 446 |
* | Stoke Therapeutics Inc. | 78,745 | 443 |
* | Seer Inc. | 167,294 | 440 |
*,1 | Foghorn Therapeutics Inc. | 57,994 | 439 |
* | Tela Bio Inc. | 45,361 | 438 |
*,1 | Zynex Inc. | 56,293 | 433 |
*,3 | Scilex Holding Co. (Acquired 1/6/23, Cost $1,735) | 165,557 | 428 |
*,1 | Fennec Pharmaceuticals Inc. | 51,761 | 422 |
* | Thorne HealthTech Inc. | 41,153 | 417 |
* | Karyopharm Therapeutics Inc. | 323,248 | 414 |
* | Inogen Inc. | 66,471 | 413 |
* | Selecta Biosciences Inc. | 331,523 | 408 |
* | Poseida Therapeutics Inc. | 194,012 | 405 |
* | OptimizeRx Corp. | 47,429 | 404 |
* | Sight Sciences Inc. | 61,652 | 404 |
* | Sangamo Therapeutics Inc. | 412,994 | 400 |
* | Atara Biotherapeutics Inc. | 272,586 | 398 |
* | Sanara Medtech Inc. | 10,835 | 392 |
* | ClearPoint Neuro Inc. | 65,403 | 380 |
* | Joint Corp. | 40,594 | 377 |
* | Semler Scientific Inc. | 14,283 | 377 |
*,1 | Allovir Inc. | 119,580 | 374 |
* | Merrimack Pharmaceuticals Inc. | 29,837 | 364 |
* | Annexon Inc. | 130,272 | 358 |
* | Altimmune Inc. | 141,077 | 357 |
* | NanoString Technologies Inc. | 134,910 | 345 |
* | Cara Therapeutics Inc. | 133,911 | 344 |
* | Third Harmonic Bio Inc. | 55,553 | 337 |
* | Codexis Inc. | 190,279 | 331 |
*,1 | Citius Pharmaceuticals Inc. | 350,803 | 320 |
* | Mersana Therapeutics Inc. | 286,390 | 318 |
* | BioAtla Inc. | 126,261 | 317 |
*,1 | Protalix BioTherapeutics Inc. | 160,371 | 303 |
* | Kezar Life Sciences Inc. | 203,669 | 303 |
* | Innovage Holding Corp. | 54,001 | 296 |
* | Aadi Bioscience Inc. | 46,895 | 295 |
* | XOMA Corp. | 20,904 | 293 |
* | Acrivon Therapeutics Inc. | 24,440 | 286 |
* | Ikena Oncology Inc. | 60,710 | 282 |
*,1 | Nuvectis Pharma Inc. | 19,494 | 279 |
* | Vigil Neuroscience Inc. | 45,914 | 277 |
Shares | Market Value• ($000) | ||
* | Larimar Therapeutics Inc. | 73,166 | 272 |
*,1 | Verrica Pharmaceuticals Inc. | 59,612 | 271 |
* | Akoya Biosciences Inc. | 51,844 | 270 |
* | Vor BioPharma Inc. | 107,573 | 269 |
* | Cue Biopharma Inc. | 98,635 | 267 |
*,1 | AirSculpt Technologies Inc. | 34,797 | 267 |
* | ALX Oncology Holdings Inc. | 61,722 | 263 |
*,1 | Trevi Therapeutics Inc. | 118,827 | 263 |
* | KORU Medical Systems Inc. | 99,813 | 262 |
* | Longboard Pharmaceuticals Inc. | 44,421 | 257 |
*,1 | Omega Therapeutics Inc. | 69,527 | 255 |
* | FibroGen Inc. | 259,470 | 249 |
* | Optinose Inc. | 208,123 | 248 |
*,1 | Vaxxinity Inc. Class A | 121,693 | 246 |
* | IGM Biosciences Inc. | 34,007 | 243 |
* | NGM Biopharmaceuticals Inc. | 126,189 | 238 |
* | Design Therapeutics Inc. | 93,523 | 232 |
* | P3 Health Partners Inc. | 113,446 | 225 |
* | Beyond Air Inc. | 72,923 | 222 |
*,1 | Pulse Biosciences Inc. | 46,146 | 217 |
* | Aveanna Healthcare Holdings Inc. | 147,575 | 213 |
*,1 | Cano Health Inc. | 681,874 | 211 |
*,1 | Bioxcel Therapeutics Inc. | 54,714 | 207 |
* | Kodiak Sciences Inc. | 92,606 | 204 |
* | Biote Corp. Class A | 39,951 | 197 |
* | Genelux Corp. | 7,870 | 190 |
* | Vicarious Surgical Inc. | 199,964 | 185 |
*,1 | Theseus Pharmaceuticals Inc. | 57,756 | 181 |
* | PepGen Inc. | 28,685 | 181 |
* | Graphite Bio Inc. | 79,954 | 177 |
*,1 | Adicet Bio Inc. | 86,705 | 173 |
* | Reneo Pharmaceuticals Inc. | 27,688 | 167 |
* | Century Therapeutics Inc. | 66,835 | 166 |
* | Eyenovia Inc. | 79,400 | 150 |
* | Nkarta Inc. | 86,278 | 148 |
*,1 | Zura Bio Ltd. | 21,584 | 148 |
*,1 | Ocean Biomedical Inc. | 24,793 | 112 |
* | Prelude Therapeutics Inc. | 28,319 | 106 |
*,1 | Outlook Therapeutics Inc. | 442,680 | 101 |
*,1 | Bright Green Corp. | 172,241 | 80 |
* | Orchestra BioMed Holdings Inc. | 11,907 | 74 |
* | Rain Oncology Inc. | 48,473 | 51 |
* | Sagimet Biosciences Inc. Class A | 3,628 | 44 |
* | Apogee Therapeutics Inc. | 1,939 | 44 |
* | Turnstone Biologics Corp. | 3,779 | 41 |
*,1 | BioVie Inc. | 9,536 | 30 |
*,1,2 | Tobira Therapeutics Inc. CVR | 6,227 | 28 |
*,2 | PDL BioPharma Inc. | 712 | 1 |
*,2 | Achillion Pharmaceuticals Inc. | 1,085 | 1 |
*,2 | Synergy Pharmaceuticals LLC | 224,815 | — |
*,2 | Flexion Therape CVR | 111 | — |
*,2 | OmniAb Inc. 12.5 Earnout | 14,203 | — |
*,2 | OmniAb Inc. 15 Earnout | 14,203 | — |
* | ATI Physical Therapy Inc. | 5 | — |
Shares | Market Value• ($000) | ||
* | Vistagen Therapeutics Inc. | 1 | — |
1,032,021 | |||
Industrials (18.4%) | |||
* | Chart Industries Inc. | 121,910 | 22,014 |
Simpson Manufacturing Co. Inc. | 123,895 | 19,793 | |
Comfort Systems USA Inc. | 102,207 | 18,864 | |
* | Atkore Inc. | 114,356 | 17,607 |
Applied Industrial Technologies Inc. | 111,411 | 17,198 | |
* | API Group Corp. | 603,908 | 17,000 |
* | ATI Inc. | 372,288 | 16,876 |
Watts Water Technologies Inc. Class A | 78,943 | 14,902 | |
* | Fluor Corp. | 411,974 | 14,415 |
Maximus Inc. | 175,499 | 14,184 | |
Badger Meter Inc. | 84,934 | 14,106 | |
* | ExlService Holdings Inc. | 466,887 | 13,647 |
Triton International Ltd. | 157,187 | 13,190 | |
Exponent Inc. | 146,197 | 13,137 | |
* | Summit Materials Inc. Class A | 344,848 | 12,901 |
Franklin Electric Co. Inc. | 133,376 | 12,899 | |
Zurn Elkay Water Solutions Corp. | 427,346 | 12,658 | |
EnerSys | 119,186 | 12,512 | |
* | Beacon Roofing Supply Inc. | 155,774 | 12,439 |
AAON Inc. | 195,621 | 12,336 | |
GATX Corp. | 102,459 | 12,104 | |
*,1 | TriNet Group Inc. | 108,725 | 12,061 |
Terex Corp. | 194,115 | 11,765 | |
Belden Inc. | 122,735 | 11,525 | |
* | ASGN Inc. | 139,298 | 11,445 |
HB Fuller Co. | 156,237 | 11,332 | |
Insperity Inc. | 105,212 | 10,661 | |
FTAI Aviation Ltd. | 287,493 | 10,626 | |
Herc Holdings Inc. | 81,567 | 10,615 | |
Federal Signal Corp. | 173,092 | 10,550 | |
* | AMN Healthcare Services Inc. | 117,161 | 10,355 |
* | StoneCo. Ltd. Class A | 840,951 | 10,310 |
Brink's Co. | 133,316 | 10,107 | |
John Bean Technologies Corp. | 91,875 | 10,098 | |
* | SPX Technologies Inc. | 127,391 | 10,066 |
Installed Building Products Inc. | 68,459 | 9,908 | |
Otter Tail Corp. | 119,265 | 9,824 | |
Hillenbrand Inc. | 199,246 | 9,651 | |
* | Flywire Corp. | 277,272 | 9,588 |
Moog Inc. Class A | 81,896 | 9,513 | |
Matson Inc. | 102,795 | 9,034 | |
* | Itron Inc. | 131,417 | 8,990 |
* | O-I Glass Inc. | 448,105 | 8,899 |
* | Alight Inc. Class A | 1,148,779 | 8,777 |
* | Marqeta Inc. Class A | 1,414,776 | 8,701 |
ABM Industries Inc. | 191,299 | 8,689 | |
Albany International Corp. Class A | 90,398 | 8,382 | |
* | Bloom Energy Corp. Class A | 556,258 | 8,338 |
* | GMS Inc. | 120,090 | 8,327 |
* | Dycom Industries Inc. | 82,681 | 8,262 |
EnPro Industries Inc. | 60,554 | 8,259 | |
CSW Industrials Inc. | 44,540 | 8,001 |
Shares | Market Value• ($000) | ||
Encore Wire Corp. | 48,305 | 7,961 | |
ESCO Technologies Inc. | 73,862 | 7,904 | |
* | CBIZ Inc. | 138,458 | 7,769 |
Korn Ferry | 150,773 | 7,686 | |
Scorpio Tankers Inc. | 151,998 | 7,677 | |
UniFirst Corp. | 43,281 | 7,623 | |
Werner Enterprises Inc. | 182,963 | 7,613 | |
* | ACI Worldwide Inc. | 312,962 | 7,599 |
* | Knife River Corp. | 146,933 | 7,561 |
EVERTEC Inc. | 188,855 | 7,473 | |
Kadant Inc. | 33,729 | 7,412 | |
* | Hub Group Inc. Class A | 94,893 | 7,405 |
ArcBest Corp. | 69,619 | 7,351 | |
ICF International Inc. | 54,039 | 7,298 | |
McGrath RentCorp. | 71,267 | 7,205 | |
* | Verra Mobility Corp. | 403,440 | 7,177 |
* | Sterling Infrastructure Inc. | 86,474 | 7,157 |
* | Resideo Technologies Inc. | 422,575 | 7,125 |
* | Modine Manufacturing Co. | 148,542 | 7,069 |
* | AeroVironment Inc. | 72,388 | 7,024 |
* | MYR Group Inc. | 47,444 | 6,740 |
* | Gibraltar Industries Inc. | 89,544 | 6,718 |
* | Masonite International Corp. | 64,187 | 6,593 |
Veritiv Corp. | 37,812 | 6,365 | |
Mueller Water Products Inc. Class A | 447,998 | 6,326 | |
* | OSI Systems Inc. | 45,788 | 6,243 |
Kennametal Inc. | 233,455 | 6,180 | |
* | AAR Corp. | 99,712 | 6,142 |
* | Remitly Global Inc. | 243,698 | 6,129 |
* | RXO Inc. | 335,458 | 6,065 |
*,1 | Joby Aviation Inc. | 805,662 | 6,002 |
Trinity Industries Inc. | 234,624 | 5,882 | |
* | Kratos Defense & Security Solutions Inc. | 362,254 | 5,829 |
Barnes Group Inc. | 141,432 | 5,558 | |
* | Huron Consulting Group Inc. | 55,007 | 5,498 |
Helios Technologies Inc. | 94,731 | 5,483 | |
Bread Financial Holdings Inc. | 145,723 | 5,476 | |
*,1 | Enovix Corp. | 395,723 | 5,453 |
Primoris Services Corp. | 153,417 | 5,426 | |
Forward Air Corp. | 75,551 | 5,351 | |
Griffon Corp. | 126,924 | 5,314 | |
Granite Construction Inc. | 127,456 | 5,263 | |
Standex International Corp. | 34,085 | 5,236 | |
Greif Inc. Class A | 71,848 | 5,215 | |
Patrick Industries Inc. | 61,666 | 5,158 | |
* | PagSeguro Digital Ltd. Class A | 573,031 | 5,146 |
*,1 | Rocket Lab USA Inc. | 806,690 | 5,090 |
International Seaways Inc. | 117,352 | 5,043 | |
Alamo Group Inc. | 29,173 | 5,008 | |
* | Mirion Technologies Inc. | 578,807 | 4,943 |
Textainer Group Holdings Ltd. | 124,635 | 4,939 | |
* | Masterbrand Inc. | 374,951 | 4,803 |
* | Payoneer Global Inc. | 766,304 | 4,743 |
* | PGT Innovations Inc. | 168,003 | 4,736 |
* | Hillman Solutions Corp. | 499,748 | 4,523 |
* | AvidXchange Holdings Inc. | 432,193 | 4,443 |
Tennant Co. | 53,385 | 4,401 |
Shares | Market Value• ($000) | ||
* | Energy Recovery Inc. | 161,132 | 4,380 |
* | Vicor Corp. | 64,110 | 4,345 |
Enerpac Tool Group Corp. | 165,528 | 4,337 | |
H&E Equipment Services Inc. | 92,655 | 4,199 | |
* | Construction Partners Inc. Class A | 116,042 | 4,032 |
* | NV5 Global Inc. | 39,164 | 3,986 |
Lindsay Corp. | 31,874 | 3,956 | |
Greenbrier Cos. Inc. | 90,889 | 3,868 | |
SFL Corp. Ltd. | 332,146 | 3,753 | |
* | American Woodmark Corp. | 47,985 | 3,727 |
* | JELD-WEN Holding Inc. | 245,202 | 3,698 |
DHT Holdings Inc. | 395,458 | 3,658 | |
Astec Industries Inc. | 65,830 | 3,609 | |
* | CoreCivic Inc. | 328,028 | 3,530 |
* | Donnelley Financial Solutions Inc. | 71,400 | 3,518 |
AZZ Inc. | 71,633 | 3,517 | |
Marten Transport Ltd. | 167,434 | 3,516 | |
* | Air Transport Services Group Inc. | 162,570 | 3,505 |
Kforce Inc. | 55,828 | 3,498 | |
* | LegalZoom.Com Inc. | 299,848 | 3,421 |
* | Cimpress plc | 51,408 | 3,321 |
Apogee Enterprises Inc. | 63,819 | 3,220 | |
TriMas Corp. | 119,830 | 3,140 | |
* | Montrose Environmental Group Inc. | 80,673 | 3,101 |
Wabash National Corp. | 137,027 | 3,090 | |
Columbus McKinnon Corp. | 81,575 | 3,073 | |
*,1 | Archer Aviation Inc. Class A | 439,063 | 3,060 |
* | ZipRecruiter Inc. Class A | 201,103 | 3,055 |
*,1 | PureCycle Technologies Inc. | 335,379 | 2,995 |
* | CIRCOR International Inc. | 52,529 | 2,925 |
* | Janus International Group Inc. | 245,584 | 2,812 |
Teekay Tankers Ltd. Class A | 69,091 | 2,811 | |
* | Aurora Innovation Inc. | 879,868 | 2,789 |
Chase Corp. | 21,922 | 2,773 | |
* | Thermon Group Holdings Inc. | 96,952 | 2,664 |
1 | Flex LNG Ltd. | 86,177 | 2,609 |
1 | Golden Ocean Group Ltd. | 356,161 | 2,604 |
Quanex Building Products Corp. | 95,650 | 2,581 | |
* | Cross Country Healthcare Inc. | 99,645 | 2,567 |
Deluxe Corp. | 126,022 | 2,548 | |
* | Leonardo DRS Inc. | 145,201 | 2,486 |
Dorian LPG Ltd. | 92,780 | 2,394 | |
Nordic American Tankers Ltd. | 594,265 | 2,324 | |
* | Evolv Technologies Holdings Inc. | 324,469 | 2,268 |
Napco Security Technologies Inc. | 91,356 | 2,264 | |
* | BlueLinx Holdings Inc. | 25,186 | 2,248 |
* | Proto Labs Inc. | 75,922 | 2,240 |
Powell Industries Inc. | 26,374 | 2,215 | |
First Advantage Corp. | 158,439 | 2,210 | |
* | SP Plus Corp. | 56,289 | 2,205 |
* | Transcat Inc. | 21,280 | 2,170 |
Shares | Market Value• ($000) | ||
* | Repay Holdings Corp. | 233,961 | 2,157 |
CRA International Inc. | 19,674 | 2,137 | |
Mesa Laboratories Inc. | 14,830 | 2,126 | |
Gorman-Rupp Co. | 65,927 | 2,119 | |
Heartland Express Inc. | 134,878 | 2,035 | |
*,1 | Nikola Corp. | 1,712,335 | 2,021 |
* | Green Dot Corp. Class A | 133,693 | 1,984 |
Myers Industries Inc. | 105,284 | 1,980 | |
Douglas Dynamics Inc. | 64,966 | 1,966 | |
* | Titan International Inc. | 151,116 | 1,903 |
Insteel Industries Inc. | 54,083 | 1,879 | |
Barrett Business Services Inc. | 19,229 | 1,840 | |
* | Titan Machinery Inc. | 59,299 | 1,839 |
*,1 | Virgin Galactic Holdings Inc. | 726,141 | 1,830 |
Kaman Corp. | 81,107 | 1,819 | |
* | IES Holdings Inc. | 23,616 | 1,771 |
Kelly Services Inc. Class A | 95,104 | 1,758 | |
* | Triumph Group Inc. | 185,983 | 1,750 |
VSE Corp. | 30,799 | 1,748 | |
* | CryoPort Inc. | 123,635 | 1,743 |
1 | Eagle Bulk Shipping Inc. | 39,352 | 1,722 |
* | Manitowoc Co. Inc. | 100,563 | 1,702 |
* | Great Lakes Dredge & Dock Corp. | 189,230 | 1,671 |
* | V2X Inc. | 33,218 | 1,671 |
TTEC Holdings Inc. | 56,074 | 1,669 | |
Pitney Bowes Inc. | 505,952 | 1,665 | |
Genco Shipping & Trading Ltd. | 121,355 | 1,659 | |
Ennis Inc. | 73,491 | 1,565 | |
* | Conduent Inc. | 496,426 | 1,559 |
Shyft Group Inc. | 99,380 | 1,558 | |
Argan Inc. | 36,605 | 1,555 | |
* | International Money Express Inc. | 89,095 | 1,541 |
* | I3 Verticals Inc. Class A | 65,080 | 1,539 |
* | Hudson Technologies Inc. | 126,923 | 1,531 |
Heidrick & Struggles International Inc. | 57,274 | 1,517 | |
Cass Information Systems Inc. | 39,535 | 1,516 | |
* | Franklin Covey Co. | 35,229 | 1,503 |
Cadre Holdings Inc. | 56,090 | 1,482 | |
* | DXP Enterprises Inc. | 41,643 | 1,481 |
* | Ducommun Inc. | 32,490 | 1,477 |
1 | Ardmore Shipping Corp. | 118,500 | 1,474 |
*,1 | Desktop Metal Inc. Class A | 808,469 | 1,455 |
Resources Connection Inc. | 93,681 | 1,453 | |
Costamare Inc. | 139,891 | 1,442 | |
* | Target Hospitality Corp. | 90,469 | 1,438 |
Hyster-Yale Materials Handling Inc. | 31,428 | 1,435 | |
Allient Inc. | 40,054 | 1,363 | |
* | TrueBlue Inc. | 87,895 | 1,330 |
* | Astronics Corp. | 75,232 | 1,319 |
* | Cantaloupe Inc. | 165,964 | 1,314 |
* | Vishay Precision Group Inc. | 35,874 | 1,292 |
Miller Industries Inc. | 32,195 | 1,288 | |
United States Lime & Minerals Inc. | 5,929 | 1,284 | |
REV Group Inc. | 91,612 | 1,244 | |
* | Teekay Corp. | 192,913 | 1,237 |
* | Paysafe Ltd. | 93,937 | 1,231 |
Shares | Market Value• ($000) | ||
Preformed Line Products Co. | 7,200 | 1,220 | |
Covenant Logistics Group Inc. | 24,665 | 1,213 | |
LSI Industries Inc. | 76,056 | 1,198 | |
* | CECO Environmental Corp. | 86,047 | 1,186 |
National Presto Industries Inc. | 14,931 | 1,118 | |
* | Blue Bird Corp. | 50,963 | 1,114 |
* | Custom Truck One Source Inc. | 165,604 | 1,111 |
* | Aersale Corp. | 74,499 | 1,103 |
* | Tutor Perini Corp. | 123,186 | 1,095 |
Greif Inc. Class B | 14,639 | 1,091 | |
Trinseo plc | 101,428 | 1,068 | |
* | Forrester Research Inc. | 34,017 | 1,042 |
*,1 | Eos Energy Enterprises Inc. | 311,923 | 1,014 |
FTAI Infrastructure Inc. | 287,378 | 1,000 | |
* | BrightView Holdings Inc. | 120,486 | 998 |
* | Limbach Holdings Inc. | 26,733 | 966 |
Pactiv Evergreen Inc. | 116,981 | 962 | |
Luxfer Holdings plc | 79,873 | 961 | |
* | Sterling Check Corp. | 68,570 | 956 |
* | FARO Technologies Inc. | 58,297 | 925 |
* | Aspen Aerogels Inc. | 149,070 | 908 |
* | Babcock & Wilcox Enterprises Inc. | 172,157 | 904 |
* | Bowman Consulting Group Ltd. | 29,234 | 863 |
* | Commercial Vehicle Group Inc. | 93,623 | 862 |
* | Willdan Group Inc. | 34,966 | 844 |
* | Ranpak Holdings Corp. | 123,749 | 783 |
Park Aerospace Corp. | 56,146 | 765 | |
Eneti Inc. | 70,450 | 764 | |
* | Overseas Shipholding Group Inc. Class A | 168,784 | 743 |
* | Radiant Logistics Inc. | 107,915 | 728 |
* | Advantage Solutions Inc. | 252,725 | 708 |
* | Distribution Solutions Group Inc. | 12,994 | 670 |
*,1 | Microvast Holdings Inc. | 299,952 | 669 |
1 | Safe Bulkers Inc. | 207,056 | 665 |
* | Luna Innovations Inc. | 91,684 | 632 |
* | Global Business Travel Group I | 92,155 | 622 |
* | Daseke Inc. | 115,579 | 613 |
* | CS Disco Inc. | 64,506 | 613 |
* | IBEX Holdings Ltd. | 31,273 | 612 |
* | Core Molding Technologies Inc. | 22,102 | 599 |
* | TuSimple Holdings Inc. Class A | 471,436 | 589 |
1 | Pangaea Logistics Solutions Ltd. | 104,025 | 587 |
* | Concrete Pumping Holdings Inc. | 74,039 | 565 |
* | Iteris Inc. | 121,969 | 560 |
* | SoundThinking Inc. | 25,545 | 548 |
Universal Logistics Holdings Inc. | 19,925 | 540 | |
*,1 | Blade Air Mobility Inc. | 166,714 | 532 |
Kronos Worldwide Inc. | 63,033 | 529 | |
Information Services Group Inc. | 100,185 | 521 | |
* | Hyliion Holdings Corp. | 421,305 | 514 |
Shares | Market Value• ($000) | ||
* | DHI Group Inc. | 130,952 | 494 |
*,1 | Danimer Scientific Inc. | 250,451 | 488 |
* | Atlanticus Holdings Corp. | 13,267 | 463 |
*,1 | BlackSky Technology Inc. | 337,459 | 459 |
* | Quad/Graphics Inc. | 88,764 | 454 |
* | Performant Financial Corp. | 192,109 | 451 |
Park-Ohio Holdings Corp. | 24,027 | 450 | |
*,1 | Tingo Group Inc. | 348,645 | 450 |
* | Hireright Holdings Corp. | 42,816 | 448 |
* | Gencor Industries Inc. | 30,045 | 429 |
* | Acacia Research Corp. | 108,448 | 413 |
* | PAM Transportation Services Inc. | 17,627 | 406 |
Karat Packaging Inc. | 16,226 | 404 | |
*,1 | Velo3D Inc. | 254,058 | 401 |
*,1 | Himalaya Shipping Ltd. | 77,990 | 387 |
*,1 | Eve Holding Inc. | 51,483 | 380 |
*,1 | Workhorse Group Inc. | 473,487 | 373 |
* | Mayville Engineering Co. Inc. | 31,579 | 371 |
* | EVI Industries Inc. | 13,579 | 359 |
* | Willis Lease Finance Corp. | 8,054 | 343 |
* | Mistras Group Inc. | 59,464 | 318 |
* | Skillsoft Corp. | 228,525 | 299 |
*,1 | Terran Orbital Corp. | 243,269 | 297 |
*,1 | CompoSecure Inc. | 46,948 | 295 |
Hirequest Inc. | 15,262 | 290 | |
* | SKYX Platforms Corp. | 162,296 | 284 |
* | 374Water Inc. | 169,085 | 254 |
*,1 | CPI Card Group Inc. | 12,099 | 250 |
* | Paysign Inc. | 93,200 | 210 |
* | INNOVATE Corp. | 131,079 | 210 |
* | Priority Technology Holdings Inc. | 51,711 | 192 |
* | Atmus Filtration Technologies Inc. | 3,705 | 85 |
*,1 | Ispire Technology Inc. | 7,769 | 77 |
*,1 | Amprius Technologies Inc. | 15,310 | 75 |
*,1 | Dragonfly Energy Holdings Corp. | 43,451 | 75 |
*,1 | Southland Holdings Inc. | 10,731 | 73 |
*,1 | Redwire Corp. | 22,423 | 72 |
1,273,567 | |||
Other (0.0%)4 | |||
*,2 | Aduro Biotech Inc. CVR | 17,431 | 3 |
*,2 | GTX Inc. CVR | 846 | 1 |
*,2 | Chinook Therapeutics Inc. CVR | 704 | — |
4 | |||
Real Estate (6.3%) | |||
Terreno Realty Corp. | 236,067 | 14,374 | |
Kite Realty Group Trust | 628,919 | 14,195 | |
Ryman Hospitality Properties Inc. | 166,728 | 14,177 | |
Phillips Edison & Co. Inc. | 340,489 | 11,529 | |
Independence Realty Trust Inc. | 652,083 | 10,975 | |
PotlatchDeltic Corp. | 228,406 | 10,794 | |
Essential Properties Realty Trust Inc. | 429,666 | 10,321 | |
Physicians Realty Trust | 687,276 | 9,560 | |
Apple Hospitality REIT Inc. | 622,721 | 9,353 | |
Broadstone Net Lease Inc. | 543,068 | 8,781 |
Shares | Market Value• ($000) | ||
Corporate Office Properties Trust | 325,252 | 8,418 | |
Sabra Health Care REIT Inc. | 667,832 | 8,368 | |
LXP Industrial Trust | 835,799 | 8,208 | |
DigitalBridge Group Inc. | 467,182 | 8,138 | |
1 | SL Green Realty Corp. | 190,576 | 7,482 |
SITE Centers Corp. | 549,884 | 7,341 | |
Macerich Co. | 625,389 | 7,311 | |
Innovative Industrial Properties Inc. | 80,616 | 7,036 | |
Tanger Factory Outlet Centers Inc. | 294,789 | 6,854 | |
Douglas Emmett Inc. | 491,302 | 6,716 | |
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 299,154 | 6,692 | |
Four Corners Property Trust Inc. | 250,171 | 6,294 | |
National Health Investors Inc. | 120,535 | 6,163 | |
St. Joe Co. | 99,536 | 6,145 | |
*,1 | Opendoor Technologies Inc. | 1,573,065 | 6,135 |
CareTrust REIT Inc. | 289,410 | 5,832 | |
Equity Commonwealth | 303,270 | 5,771 | |
Kennedy-Wilson Holdings Inc. | 344,914 | 5,508 | |
Urban Edge Properties | 332,418 | 5,438 | |
Sunstone Hotel Investors Inc. | 602,358 | 5,409 | |
Pebblebrook Hotel Trust | 351,408 | 5,085 | |
JBG SMITH Properties | 322,272 | 5,053 | |
DiamondRock Hospitality Co. | 607,251 | 4,894 | |
Outfront Media Inc. | 426,573 | 4,842 | |
Retail Opportunity Investments Corp. | 355,494 | 4,785 | |
InvenTrust Properties Corp. | 196,728 | 4,704 | |
RLJ Lodging Trust | 459,984 | 4,595 | |
* | Cushman & Wakefield plc | 481,339 | 4,424 |
* | Veris Residential Inc. | 227,956 | 4,242 |
Acadia Realty Trust | 270,436 | 4,027 | |
Service Properties Trust | 477,159 | 3,941 | |
LTC Properties Inc. | 118,662 | 3,899 | |
Elme Communities | 253,196 | 3,894 | |
Getty Realty Corp. | 129,661 | 3,892 | |
eXp World Holdings Inc. | 199,387 | 3,832 | |
Xenia Hotels & Resorts Inc. | 321,558 | 3,794 | |
Alexander & Baldwin Inc. | 208,991 | 3,764 | |
Uniti Group Inc. | 688,241 | 3,696 | |
* | Radius Global Infrastructure Inc. Class A (XNMS) | 244,669 | 3,650 |
Easterly Government Properties Inc. | 266,863 | 3,568 | |
Global Net Lease Inc. | 302,206 | 3,430 | |
Empire State Realty Trust Inc. Class A | 381,619 | 3,332 | |
Apartment Investment and Management Co. Class A | 427,832 | 3,256 | |
* | Compass Inc. Class A | 863,058 | 3,107 |
American Assets Trust Inc. | 140,395 | 3,006 |
Shares | Market Value• ($000) | ||
NETSTREIT Corp. | 177,189 | 3,000 | |
Necessity Retail REIT Inc. | 390,406 | 2,928 | |
* | Redfin Corp. | 307,133 | 2,924 |
Plymouth Industrial REIT Inc. | 123,536 | 2,830 | |
Centerspace | 43,703 | 2,829 | |
RPT Realty | 247,187 | 2,803 | |
Newmark Group Inc. Class A | 389,533 | 2,762 | |
Paramount Group Inc. | 536,591 | 2,758 | |
Hudson Pacific Properties Inc. | 397,720 | 2,708 | |
* | GEO Group Inc. | 344,697 | 2,496 |
Brandywine Realty Trust | 490,575 | 2,453 | |
Piedmont Office Realty Trust Inc. Class A | 355,500 | 2,442 | |
NexPoint Residential Trust Inc. | 64,915 | 2,438 | |
Community Healthcare Trust Inc. | 73,386 | 2,436 | |
UMH Properties Inc. | 158,248 | 2,366 | |
Marcus & Millichap Inc. | 69,394 | 2,311 | |
Armada Hoffler Properties Inc. | 193,793 | 2,207 | |
* | Anywhere Real Estate Inc. | 310,160 | 2,035 |
Diversified Healthcare Trust | 687,816 | 1,867 | |
Safehold Inc. | 85,890 | 1,828 | |
Summit Hotel Properties Inc. | 302,186 | 1,756 | |
Universal Health Realty Income Trust | 37,069 | 1,729 | |
Global Medical REIT Inc. | 175,859 | 1,702 | |
CBL & Associates Properties Inc. | 77,583 | 1,659 | |
1 | Farmland Partners Inc. | 145,894 | 1,619 |
1 | Peakstone Realty Trust | 80,266 | 1,577 |
Ares Commercial Real Estate Corp. | 150,605 | 1,559 | |
Gladstone Commercial Corp. | 116,139 | 1,527 | |
Gladstone Land Corp. | 96,751 | 1,522 | |
* | Forestar Group Inc. | 52,858 | 1,507 |
Whitestone REIT | 140,503 | 1,405 | |
Chatham Lodging Trust | 139,515 | 1,364 | |
Saul Centers Inc. | 33,699 | 1,266 | |
Alexander's Inc. | 6,179 | 1,185 | |
RMR Group Inc. Class A | 44,652 | 1,129 | |
CTO Realty Growth Inc. | 63,726 | 1,123 | |
* | FRP Holdings Inc. | 19,101 | 1,088 |
Office Properties Income Trust | 140,875 | 1,042 | |
* | Tejon Ranch Co. | 61,530 | 1,026 |
Orion Office REIT Inc. | 166,927 | 973 | |
One Liberty Properties Inc. | 46,413 | 912 | |
Hersha Hospitality Trust Class A | 91,133 | 895 | |
RE/MAX Holdings Inc. Class A | 49,925 | 809 | |
Postal Realty Trust Inc. Class A | 53,784 | 776 | |
Alpine Income Property Trust Inc. | 37,144 | 646 | |
BRT Apartments Corp. | 33,992 | 634 | |
Douglas Elliman Inc. | 231,277 | 581 | |
City Office REIT Inc. | 111,376 | 561 |
Shares | Market Value• ($000) | ||
Braemar Hotels & Resorts Inc. | 187,262 | 509 | |
* | Star Holdings | 36,901 | 503 |
Stratus Properties Inc. | 16,016 | 443 | |
* | Maui Land & Pineapple Co. Inc. | 21,531 | 297 |
Clipper Realty Inc. | 38,477 | 237 | |
* | Transcontinental Realty Investors Inc. | 5,354 | 184 |
* | American Realty Investors Inc. | 4,201 | 84 |
436,280 | |||
Technology (12.5%) | |||
* | Super Micro Computer Inc. | 133,917 | 36,838 |
* | SPS Commerce Inc. | 105,946 | 19,720 |
* | Onto Innovation Inc. | 141,388 | 19,650 |
* | Axcelis Technologies Inc. | 94,084 | 18,078 |
* | Rambus Inc. | 314,787 | 17,776 |
* | Novanta Inc. | 103,405 | 17,267 |
* | Fabrinet | 106,294 | 17,089 |
* | Qualys Inc. | 107,377 | 16,713 |
* | Workiva Inc. | 141,198 | 15,793 |
* | Tenable Holdings Inc. | 329,743 | 14,960 |
Power Integrations Inc. | 163,928 | 13,773 | |
* | MACOM Technology Solutions Holdings Inc. | 156,925 | 13,270 |
* | Insight Enterprises Inc. | 82,836 | 13,261 |
Advanced Energy Industries Inc. | 108,672 | 12,831 | |
* | Silicon Laboratories Inc. | 91,694 | 12,366 |
*,1 | MicroStrategy Inc. Class A | 31,916 | 11,411 |
* | Box Inc. Class A | 406,770 | 10,771 |
* | Appfolio Inc. Class A | 55,478 | 10,694 |
* | Diodes Inc. | 130,416 | 10,675 |
* | Altair Engineering Inc. Class A | 155,169 | 10,316 |
* | Freshworks Inc. Class A | 467,494 | 10,224 |
Vishay Intertechnology Inc. | 372,398 | 10,219 | |
* | Varonis Systems Inc. | 313,651 | 10,015 |
* | Synaptics Inc. | 114,006 | 9,980 |
* | Blackline Inc. | 162,647 | 9,769 |
* | Blackbaud Inc. | 125,811 | 9,575 |
* | Sanmina Corp. | 166,569 | 9,278 |
* | Ziff Davis Inc. | 135,857 | 9,055 |
* | CommVault Systems Inc. | 128,968 | 8,810 |
* | Rapid7 Inc. | 173,074 | 8,721 |
* | Yelp Inc. | 194,352 | 8,328 |
Kulicke & Soffa Industries Inc. | 160,412 | 8,298 | |
Amkor Technology Inc. | 295,507 | 8,262 | |
* | Fastly Inc. Class A | 342,528 | 8,149 |
* | Alarm.com Holdings Inc. | 138,200 | 8,094 |
* | Plexus Corp. | 79,192 | 8,042 |
*,1 | IonQ Inc. | 464,338 | 7,982 |
* | Envestnet Inc. | 144,546 | 7,897 |
* | FormFactor Inc. | 222,681 | 7,865 |
Progress Software Corp. | 125,762 | 7,651 | |
* | Sprout Social Inc. Class A | 138,066 | 7,392 |
* | Rogers Corp. | 49,972 | 7,221 |
* | Parsons Corp. | 119,182 | 6,796 |
* | Sitime Corp. | 49,640 | 6,587 |
* | Ambarella Inc. | 105,359 | 6,548 |
* | PagerDuty Inc. | 246,606 | 6,353 |
* | Perficient Inc. | 99,043 | 6,318 |
Shares | Market Value• ($000) | ||
* | LiveRamp Holdings Inc. | 184,341 | 5,962 |
* | Verint Systems Inc. | 182,584 | 5,914 |
* | Schrodinger Inc. | 157,424 | 5,807 |
* | Appian Corp. Class A | 118,735 | 5,782 |
* | Q2 Holdings Inc. | 164,688 | 5,667 |
* | NetScout Systems Inc. | 196,848 | 5,636 |
* | Upwork Inc. | 357,737 | 5,298 |
Xerox Holdings Corp. | 331,832 | 5,273 | |
*,1 | C3.ai Inc. Class A | 169,018 | 5,243 |
Clear Secure Inc. Class A | 240,895 | 5,237 | |
* | Cargurus Inc. | 281,912 | 5,105 |
* | ePlus Inc. | 76,816 | 5,099 |
* | MaxLinear Inc. | 215,161 | 5,056 |
* | Cohu Inc. | 134,940 | 5,045 |
*,1 | DigitalOcean Holdings Inc. | 183,245 | 4,957 |
* | Asana Inc. Class A | 229,958 | 4,942 |
* | Bumble Inc. Class A | 293,140 | 4,919 |
CSG Systems International Inc. | 90,059 | 4,891 | |
* | Semtech Corp. | 184,813 | 4,833 |
* | Credo Technology Group Holding Ltd. | 282,014 | 4,642 |
* | PROS Holdings Inc. | 129,212 | 4,634 |
* | Braze Inc. Class A | 99,480 | 4,602 |
* | Ultra Clean Holdings Inc. | 128,583 | 4,521 |
* | Impinj Inc. | 66,447 | 4,423 |
* | TTM Technologies Inc. | 295,870 | 4,408 |
* | Veeco Instruments Inc. | 147,048 | 4,292 |
* | Photronics Inc. | 176,557 | 4,195 |
* | Veradigm Inc. | 312,059 | 4,175 |
* | Agilysys Inc. | 57,774 | 4,076 |
CTS Corp. | 90,372 | 4,035 | |
* | Squarespace Inc. Class A | 128,761 | 3,882 |
* | Aehr Test Systems | 74,618 | 3,806 |
* | Sprinklr Inc. Class A | 251,492 | 3,805 |
* | SMART Global Holdings Inc. | 139,499 | 3,603 |
* | Jamf Holding Corp. | 201,520 | 3,398 |
*,1 | PAR Technology Corp. | 77,046 | 3,350 |
Methode Electronics Inc. | 102,055 | 3,291 | |
* | Zuora Inc. Class A | 358,007 | 3,261 |
* | PDF Solutions Inc. | 88,297 | 3,209 |
* | Magnite Inc. | 385,539 | 3,181 |
* | Zeta Global Holdings Corp. Class A | 388,159 | 3,156 |
Adeia Inc. | 308,938 | 3,108 | |
* | AvePoint Inc. | 443,713 | 3,079 |
* | Cerence Inc. | 116,600 | 3,043 |
A10 Networks Inc. | 203,951 | 3,037 | |
* | Ichor Holdings Ltd. | 82,448 | 3,020 |
Shutterstock Inc. | 71,189 | 2,998 | |
* | Everbridge Inc. | 117,782 | 2,922 |
* | Model N Inc. | 107,708 | 2,908 |
* | E2open Parent Holdings Inc. | 573,970 | 2,772 |
* | Yext Inc. | 309,501 | 2,711 |
* | N-Able Inc. | 202,273 | 2,704 |
* | indie Semiconductor Inc. Class A | 398,532 | 2,670 |
Sapiens International Corp. NV | 88,839 | 2,655 | |
Benchmark Electronics Inc. | 102,340 | 2,634 | |
* | Avid Technology Inc. | 98,448 | 2,625 |
* | Navitas Semiconductor Corp. | 293,384 | 2,591 |
Shares | Market Value• ($000) | ||
* | EngageSmart Inc. | 139,769 | 2,475 |
* | Digital Turbine Inc. | 274,334 | 2,444 |
* | ACM Research Inc. Class A | 138,637 | 2,434 |
* | ScanSource Inc. | 72,469 | 2,376 |
* | 3D Systems Corp. | 366,754 | 2,314 |
* | Amplitude Inc. Class A | 194,832 | 2,276 |
* | Eventbrite Inc. Class A | 222,423 | 2,253 |
* | TechTarget Inc. | 75,054 | 2,158 |
* | Alpha & Omega Semiconductor Ltd. | 66,683 | 2,104 |
* | Kimball Electronics Inc. | 69,007 | 2,083 |
* | BigCommerce Holdings Inc. Series 1 | 193,435 | 2,050 |
Simulations Plus Inc. | 45,645 | 2,031 | |
* | Alkami Technology Inc. | 113,875 | 1,984 |
* | Matterport Inc. | 722,541 | 1,936 |
* | Olo Inc. Class A | 297,784 | 1,921 |
*,1 | Xometry Inc. Class A | 97,928 | 1,866 |
* | Grid Dynamics Holdings Inc. | 159,875 | 1,859 |
* | Consensus Cloud Solutions Inc. | 57,537 | 1,837 |
*,1 | SmartRent Inc. | 531,263 | 1,806 |
* | Planet Labs PBC | 549,760 | 1,787 |
PC Connection Inc. | 32,997 | 1,753 | |
* | Vimeo Inc. | 438,675 | 1,746 |
* | PubMatic Inc. Class A | 124,754 | 1,734 |
Hackett Group Inc. | 72,115 | 1,700 | |
* | Couchbase Inc. | 98,197 | 1,679 |
* | Intapp Inc. | 45,083 | 1,650 |
* | SolarWinds Corp. | 146,935 | 1,565 |
* | CEVA Inc. | 67,105 | 1,558 |
* | nLight Inc. | 127,432 | 1,454 |
* | OneSpan Inc. | 115,922 | 1,420 |
* | Mitek Systems Inc. | 123,365 | 1,378 |
* | MeridianLink Inc. | 75,943 | 1,345 |
*,1 | Digimarc Corp. | 41,030 | 1,343 |
* | Thoughtworks Holding Inc. | 267,687 | 1,330 |
*,1 | MicroVision Inc. | 511,140 | 1,288 |
Ebix Inc. | 76,564 | 1,279 | |
* | Definitive Healthcare Corp. | 130,526 | 1,227 |
NVE Corp. | 13,858 | 1,226 | |
*,1 | Applied Digital Corp. | 195,935 | 1,183 |
* | Cleanspark Inc. | 219,554 | 1,082 |
American Software Inc. Class A | 92,618 | 1,068 | |
*,1 | SoundHound AI Inc. Class A | 406,591 | 1,025 |
* | Bandwidth Inc. Class A | 68,139 | 979 |
* | Weave Communications Inc. | 94,974 | 970 |
* | Innodata Inc. | 73,198 | 952 |
* | Daktronics Inc. | 113,560 | 949 |
* | Domo Inc. Class B | 88,417 | 943 |
* | Nextdoor Holdings Inc. | 425,422 | 923 |
* | NerdWallet Inc. Class A | 99,629 | 897 |
* | SEMrush Holdings Inc. Class A | 91,353 | 863 |
* | Unisys Corp. | 194,050 | 782 |
* | LivePerson Inc. | 181,212 | 761 |
* | EverCommerce Inc. | 66,656 | 705 |
* | Asure Software Inc. | 54,037 | 678 |
* | Expensify Inc. Class A | 157,712 | 677 |
* | Tucows Inc. Class A | 28,360 | 671 |
*,1 | NextNav Inc. | 154,514 | 668 |
Shares | Market Value• ($000) | ||
*,1 | Red Violet Inc. | 31,820 | 654 |
ON24 Inc. | 93,314 | 640 | |
Immersion Corp. | 89,423 | 628 | |
* | Enfusion Inc. Class A | 72,868 | 622 |
* | TrueCar Inc. | 251,680 | 602 |
*,1 | Grindr Inc. | 117,085 | 602 |
* | Rackspace Technology Inc. | 224,938 | 562 |
* | inTEST Corp. | 30,651 | 537 |
* | Vivid Seats Inc. Class A | 72,706 | 528 |
* | Mediaalpha Inc. Class A | 61,835 | 519 |
*,1 | Bit Digital Inc. | 206,421 | 485 |
* | Brightcove Inc. | 123,988 | 477 |
* | CoreCard Corp. | 20,717 | 440 |
Richardson Electronics Ltd. | 34,135 | 430 | |
* | eGain Corp. | 61,035 | 406 |
*,1 | FiscalNote Holdings Inc. | 177,744 | 393 |
*,1 | Cipher Mining Inc. | 122,225 | 390 |
*,1 | Atomera Inc. | 60,119 | 382 |
* | EverQuote Inc. Class A | 59,957 | 371 |
* | Rimini Street Inc. | 139,292 | 337 |
* | SkyWater Technology Inc. | 50,250 | 337 |
*,1 | Terawulf Inc. | 143,763 | 300 |
* | Viant Technology Inc. Class A | 43,726 | 274 |
* | Intevac Inc. | 72,864 | 253 |
*,1 | Veritone Inc. | 74,805 | 230 |
* | Aeva Technologies Inc. | 226,769 | 214 |
* | Transphorm Inc. | 77,128 | 211 |
* | LiveVox Holdings Inc. | 62,967 | 203 |
* | System1 Inc. | 70,754 | 126 |
*,1 | BigBear.ai Holdings Inc. | 76,629 | 126 |
* | Presto Automation Inc. | 9,164 | 31 |
*,1 | CXApp Inc. | 5,638 | 22 |
* | ForgeRock Inc. Class A | 190 | 4 |
866,550 | |||
Telecommunications (1.5%) | |||
* | Extreme Networks Inc. | 363,931 | 9,990 |
Cogent Communications Holdings Inc. | 125,062 | 8,827 | |
* | Calix Inc. | 170,364 | 7,924 |
InterDigital Inc. | 78,168 | 6,778 | |
* | Viavi Solutions Inc. | 644,998 | 6,740 |
Telephone and Data Systems Inc. | 285,870 | 6,143 | |
* | Lumen Technologies Inc. | 2,915,103 | 4,635 |
* | Liberty Latin America Ltd. Class C | 416,440 | 3,731 |
* | Harmonic Inc. | 317,854 | 3,395 |
* | Digi International Inc. | 101,476 | 3,387 |
Shenandoah Telecommunications Co. | 140,697 | 3,199 | |
* | Globalstar Inc. | 1,998,039 | 2,877 |
* | Infinera Corp. | 574,237 | 2,687 |
* | Gogo Inc. | 190,662 | 2,164 |
*,1 | Lightwave Logic Inc. | 330,004 | 2,082 |
* | CommScope Holding Co. Inc. | 596,852 | 1,994 |
Adtran Holdings Inc. | 225,099 | 1,925 | |
* | Anterix Inc. | 53,051 | 1,755 |
* | EchoStar Corp. Class A | 96,837 | 1,683 |
Bel Fuse Inc. Class B | 30,184 | 1,579 | |
* | Xperi Inc. | 123,304 | 1,455 |
*,1 | fuboTV Inc. | 588,399 | 1,377 |
* | Clearfield Inc. | 37,739 | 1,327 |
Shares | Market Value• ($000) | ||
* | WideOpenWest Inc. | 149,049 | 1,207 |
ATN International Inc. | 31,905 | 1,144 | |
* | Aviat Networks Inc. | 32,180 | 1,134 |
* | NETGEAR Inc. | 83,139 | 1,096 |
* | 8x8 Inc. | 328,141 | 1,067 |
* | IDT Corp. Class B | 45,081 | 1,054 |
* | Ooma Inc. | 69,240 | 976 |
* | Liberty Latin America Ltd. Class A | 103,426 | 925 |
* | Consolidated Communications Holdings Inc. | 217,161 | 858 |
Comtech Telecommunications Corp. | 79,590 | 800 | |
* | Ribbon Communications Inc. | 250,748 | 742 |
Spok Holdings Inc. | 50,733 | 722 | |
*,1 | AST SpaceMobile Inc. | 172,981 | 678 |
* | Kaltura Inc. | 235,950 | 446 |
* | Cambium Networks Corp. | 34,769 | 320 |
* | Akoustis Technologies Inc. | 198,123 | 299 |
* | KVH Industries Inc. | 53,615 | 284 |
* | Charge Enterprises Inc. | 387,684 | 211 |
* | DZS Inc. | 64,930 | 151 |
101,768 | |||
Utilities (2.9%) | |||
* | Casella Waste Systems Inc. Class A | 160,655 | 12,655 |
Portland General Electric Co. | 280,166 | 12,288 | |
New Jersey Resources Corp. | 280,406 | 11,825 | |
Ormat Technologies Inc. (XNYS) | 154,440 | 11,728 | |
ONE Gas Inc. | 159,353 | 11,548 | |
1 | Brookfield Infrastructure Corp. Class A (XTSE) | 284,674 | 11,060 |
Southwest Gas Holdings Inc. | 178,465 | 11,052 | |
PNM Resources Inc. | 247,286 | 10,957 | |
Black Hills Corp. | 192,293 | 10,576 | |
ALLETE Inc. | 166,986 | 9,168 | |
American States Water Co. | 106,937 | 9,005 | |
NorthWestern Corp. | 173,873 | 8,763 | |
Spire Inc. | 148,895 | 8,697 | |
California Water Service Group | 162,126 | 8,147 | |
MGE Energy Inc. | 105,305 | 7,627 | |
Avista Corp. | 217,625 | 7,245 | |
SJW Group | 89,561 | 5,890 | |
Chesapeake Utilities Corp. | 50,549 | 5,565 | |
Northwest Natural Holding Co. | 103,474 | 4,064 | |
*,1 | Sunnova Energy International Inc. | 290,905 | 4,046 |
Shares | Market Value• ($000) | ||
Middlesex Water Co. | 50,760 | 3,820 | |
Unitil Corp. | 45,947 | 2,243 | |
* | Heritage-Crystal Clean Inc. | 45,160 | 2,037 |
*,1 | Li-Cycle Holdings Corp. | 397,124 | 1,763 |
* | Enviri Corp. | 227,634 | 1,696 |
York Water Co. | 41,131 | 1,676 | |
*,1 | Altus Power Inc. | 185,155 | 1,196 |
Consolidated Water Co. Ltd. | 43,606 | 1,162 | |
Artesian Resources Corp. Class A | 24,036 | 1,110 | |
Excelerate Energy Inc. Class A | 52,491 | 976 | |
*,1 | NuScale Power Corp. | 155,340 | 927 |
Aris Water Solution Inc. Class A | 87,075 | 892 | |
Genie Energy Ltd. Class B | 57,585 | 882 | |
*,1 | Vertex Energy Inc. | 196,657 | 834 |
* | Pure Cycle Corp. | 55,829 | 614 |
* | Cadiz Inc. | 115,771 | 464 |
RGC Resources Inc. | 22,811 | 412 | |
Global Water Resources Inc. | 32,408 | 361 | |
204,971 | |||
Total Common Stocks (Cost $7,882,706) | 6,896,294 | ||
Temporary Cash Investments (3.2%) | |||
Money Market Fund (3.2%) | |||
5,6 | Vanguard Market Liquidity Fund, 5.384% (Cost $223,031) | 2,230,964 | 223,074 |
Total Investments (102.7%) (Cost $8,105,737) | 7,119,368 | ||
Other Assets and Liabilities—Net (-2.7%) | (190,477) | ||
Net Assets (100%) | 6,928,891 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $164,678,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Restricted securities totaling $428,000, representing 0.0% of net assets. |
4 | “Other” represents securities that are not classified by the fund’s benchmark index. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
6 | Collateral of $183,512,000 was received for securities on loan. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2023 | 439 | 41,740 | (289) |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $7,882,706) | 6,896,294 |
Affiliated Issuers (Cost $223,031) | 223,074 |
Total Investments in Securities | 7,119,368 |
Investment in Vanguard | 236 |
Cash Collateral Pledged—Futures Contracts | 2,890 |
Receivables for Investment Securities Sold | 12,015 |
Receivables for Accrued Income | 6,747 |
Receivables for Capital Shares Issued | 99 |
Total Assets | 7,141,355 |
Liabilities | |
Due to Custodian | 7,081 |
Payables for Investment Securities Purchased | 21,154 |
Collateral for Securities on Loan | 183,512 |
Payables for Capital Shares Redeemed | 308 |
Payables to Vanguard | 292 |
Variation Margin Payable—Futures Contracts | 117 |
Total Liabilities | 212,464 |
Net Assets | 6,928,891 |
1 Includes $164,678,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 8,981,600 |
Total Distributable Earnings (Loss) | (2,052,709) |
Net Assets | 6,928,891 |
ETF Shares—Net Assets | |
Applicable to 84,625,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,454,865 |
Net Asset Value Per Share—ETF Shares | $76.28 |
Institutional Shares—Net Assets | |
Applicable to 1,624,173 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 474,026 |
Net Asset Value Per Share—Institutional Shares | $291.86 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 97,191 |
Interest2 | 1,230 |
Securities Lending—Net | 10,555 |
Total Income | 108,976 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 148 |
Management and Administrative—ETF Shares | 4,288 |
Management and Administrative—Institutional Shares | 297 |
Marketing and Distribution—ETF Shares | 333 |
Marketing and Distribution—Institutional Shares | 19 |
Custodian Fees | 583 |
Auditing Fees | 28 |
Shareholders’ Reports—ETF Shares | 442 |
Shareholders’ Reports—Institutional Shares | 6 |
Trustees’ Fees and Expenses | 3 |
Other Expenses | 25 |
Total Expenses | 6,172 |
Expenses Paid Indirectly | (26) |
Net Expenses | 6,146 |
Net Investment Income | 102,830 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | (40,647) |
Futures Contracts | 260 |
Realized Net Gain (Loss) | (40,387) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 226,217 |
Futures Contracts | (5) |
Change in Unrealized Appreciation (Depreciation) | 226,212 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 288,655 |
1 | Dividends are net of foreign withholding taxes of $132,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,149,000, $19,000, less than $1,000, and $24,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $310,191,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 102,830 | 86,559 |
Realized Net Gain (Loss) | (40,387) | 330,884 |
Change in Unrealized Appreciation (Depreciation) | 226,212 | (1,857,512) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 288,655 | (1,440,069) |
Distributions | ||
ETF Shares | (89,739) | (79,883) |
Institutional Shares | (7,681) | (7,288) |
Total Distributions | (97,420) | (87,171) |
Capital Share Transactions | ||
ETF Shares | 1,021,035 | 439,553 |
Institutional Shares | (25,904) | (12,117) |
Net Increase (Decrease) from Capital Share Transactions | 995,131 | 427,436 |
Total Increase (Decrease) | 1,186,366 | (1,099,804) |
Net Assets | ||
Beginning of Period | 5,742,525 | 6,842,329 |
End of Period | 6,928,891 | 5,742,525 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 20211 | 20201 | 20191 | |
Net Asset Value, Beginning of Period | $74.02 | $91.28 | $62.69 | $59.88 | $69.56 |
Investment Operations | |||||
Net Investment Income2 | 1.207 | 1.030 | .865 | .810 | .797 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.207 | (17.254) | 28.550 | 2.815 | (9.704) |
Total from Investment Operations | 3.414 | (16.224) | 29.415 | 3.625 | (8.907) |
Distributions | |||||
Dividends from Net Investment Income | (1.154) | (1.036) | (.825) | (.815) | (.773) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (1.154) | (1.036) | (.825) | (.815) | (.773) |
Net Asset Value, End of Period | $76.28 | $74.02 | $91.28 | $62.69 | $59.88 |
Total Return | 4.75% | -17.88% | 47.15% | 6.12% | -12.83% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $6,455 | $5,255 | $6,223 | $1,802 | $1,464 |
Ratio of Total Expenses to Average Net Assets | 0.10%3 | 0.10%3 | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.64% | 1.26% | 1.02% | 1.37% | 1.30% |
Portfolio Turnover Rate4 | 15% | 19% | 23% | 19% | 16% |
1 | Adjusted to reflect a 2-for-1 share split effective at the beginning of trading on April 20, 2021. |
2 | Calculated based on average shares outstanding. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.10%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $283.22 | $349.26 | $239.84 | $229.03 | $266.12 |
Investment Operations | |||||
Net Investment Income1 | 4.671 | 4.063 | 3.360 | 3.208 | 3.078 |
Net Realized and Unrealized Gain (Loss) on Investments | 8.434 | (66.085) | 109.242 | 10.710 | (37.106) |
Total from Investment Operations | 13.105 | (62.022) | 112.602 | 13.918 | (34.028) |
Distributions | |||||
Dividends from Net Investment Income | (4.465) | (4.018) | (3.182) | (3.108) | (3.062) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (4.465) | (4.018) | (3.182) | (3.108) | (3.062) |
Net Asset Value, End of Period | $291.86 | $283.22 | $349.26 | $239.84 | $229.03 |
Total Return | 4.76% | -17.88% | 47.19% | 6.15% | -12.83% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $474 | $487 | $619 | $630 | $859 |
Ratio of Total Expenses to Average Net Assets | 0.08%2 | 0.08%2 | 0.08% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 1.67% | 1.29% | 1.08% | 1.41% | 1.32% |
Portfolio Turnover Rate3 | 15% | 19% | 23% | 19% | 16% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended August 31, 2023, custodian fee offset arrangements reduced the fund’s expenses by $26,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 6,886,885 | 428 | 8,981 | 6,896,294 |
Temporary Cash Investments | 223,074 | — | — | 223,074 |
Total | 7,109,959 | 428 | 8,981 | 7,119,368 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 289 | — | — | 289 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions and passive foreign investment companies were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 297,284 |
Total Distributable Earnings (Loss) | (297,284) |
Amount ($000) | |
Undistributed Ordinary Income | 25,436 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (1,013,951) |
Capital Loss Carryforwards | (1,064,194) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (2,052,709) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 97,420 | 87,171 |
Long-Term Capital Gains | — | — |
Total | 97,420 | 87,171 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 8,133,319 |
Gross Unrealized Appreciation | 786,422 |
Gross Unrealized Depreciation | (1,800,373) |
Net Unrealized Appreciation (Depreciation) | (1,013,951) |
F. | During the year ended August 31, 2023, the fund purchased $3,530,504,000 of investment securities and sold $2,526,596,000 of investment securities, other than temporary cash investments. Purchases and sales include $2,612,739,000 and $1,604,294,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital share transactions for each class of shares were: |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 2,621,028 | 35,700 | 3,768,327 | 46,000 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,599,993) | (22,075) | (3,328,774) | (43,175) | |
Net Increase (Decrease)—ETF Shares | 1,021,035 | 13,625 | 439,553 | 2,825 |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 142,600 | 509 | 137,297 | 417 | |
Issued in Lieu of Cash Distributions | 7,193 | 27 | 6,909 | 22 | |
Redeemed | (175,697) | (632) | (156,323) | (492) | |
Net Increase (Decrease)—Institutional Shares | (25,904) | (96) | (12,117) | (53) |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Russell 2000 Value Index Fund ETF Shares Net Asset Value | 2.19% | 3.15% | 7.28% | $20,200 | |
Russell 2000 Value Index Fund ETF Shares Market Price | 2.17 | 3.14 | 7.27 | 20,183 | |
Russell 2000 Value Index | 2.17 | 3.18 | 7.36 | 20,345 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Russell 2000 Value Index Fund Institutional Shares | 2.26% | 3.22% | 7.39% | $10,196,767 | |
Russell 2000 Value Index | 2.17 | 3.18 | 7.36 | 10,172,462 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 15,730,560 |
One Year | Five Years | Ten Years | |
Russell 2000 Value Index Fund ETF Shares Market Price | 2.17% | 16.71% | 101.83% |
Russell 2000 Value Index Fund ETF Shares Net Asset Value | 2.19 | 16.76 | 102.00 |
Russell 2000 Value Index | 2.17 | 16.92 | 103.45 |
Basic Materials | 4.3% |
Consumer Discretionary | 13.5 |
Consumer Staples | 2.5 |
Energy | 10.2 |
Financials | 24.1 |
Health Care | 8.8 |
Industrials | 14.7 |
Real Estate | 10.9 |
Technology | 5.7 |
Telecommunications | 1.2 |
Utilities | 4.1 |
Other | 0.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Basic Materials (4.3%) | |||
Commercial Metals Co. | 92,654 | 5,216 | |
UFP Industries Inc. | 40,196 | 4,194 | |
Boise Cascade Co. | 31,438 | 3,438 | |
Avient Corp. | 71,498 | 2,868 | |
Carpenter Technology Corp. | 38,287 | 2,398 | |
Mueller Industries Inc. | 25,084 | 1,935 | |
Worthington Industries Inc. | 24,332 | 1,831 | |
Hecla Mining Co. | 376,170 | 1,651 | |
Minerals Technologies Inc. | 25,689 | 1,570 | |
Stepan Co. | 14,911 | 1,301 | |
*,1 | Uranium Energy Corp. | 293,908 | 1,270 |
Tronox Holdings plc | 92,594 | 1,263 | |
* | TimkenSteel Corp. | 34,517 | 756 |
* | US Silica Holdings Inc. | 59,821 | 738 |
* | Perimeter Solutions SA | 124,318 | 735 |
Mativ Holdings Inc. | 43,173 | 708 | |
AdvanSix Inc. | 21,184 | 701 | |
* | Constellium SE | 38,301 | 689 |
Schnitzer Steel Industries Inc. Class A | 20,528 | 682 | |
Koppers Holdings Inc. | 16,008 | 613 | |
* | Coeur Mining Inc. | 254,096 | 612 |
* | Ecovyst Inc. | 59,293 | 607 |
Ryerson Holding Corp. | 16,782 | 523 | |
* | Clearwater Paper Corp. | 13,365 | 512 |
Haynes International Inc. | 9,775 | 477 | |
* | LSB Industries Inc. | 43,247 | 438 |
* | Piedmont Lithium Inc. | 9,255 | 414 |
Olympic Steel Inc. | 7,711 | 413 | |
* | Encore Energy Corp. | 111,378 | 286 |
*,1 | i-80 Gold Corp. | 142,089 | 281 |
* | Northwest Pipe Co. | 7,697 | 255 |
Innospec Inc. | 2,331 | 250 | |
American Vanguard Corp. | 17,541 | 242 | |
GrafTech International Ltd. | 66,494 | 235 | |
* | Intrepid Potash Inc. | 8,300 | 223 |
* | Rayonier Advanced Materials Inc. | 49,827 | 176 |
FutureFuel Corp. | 20,420 | 145 | |
Caledonia Mining Corp. plc | 12,919 | 134 | |
*,1 | Energy Fuels Inc. | 16,894 | 120 |
* | Origin Materials Inc. | 83,198 | 114 |
Tredegar Corp. | 20,599 | 104 | |
* | Glatfelter Corp. | 34,561 | 69 |
* | Polymet Mining Corp. | 26,569 | 55 |
Kaiser Aluminum Corp. | 652 | 50 | |
* | Dakota Gold Corp. | 13,838 | 40 |
Shares | Market Value• ($000) | ||
Valhi Inc. | 2,149 | 28 | |
* | Contango ORE Inc. | 1,510 | 28 |
* | 5e Advanced Materials Inc. | 4,164 | 11 |
41,399 | |||
Consumer Discretionary (13.5%) | |||
Meritage Homes Corp. | 28,824 | 4,008 | |
* | Asbury Automotive Group Inc. | 17,172 | 3,950 |
* | Taylor Morrison Home Corp. | 83,110 | 3,939 |
KB Home | 58,626 | 2,978 | |
* | Adient plc | 75,421 | 2,954 |
* | Light & Wonder Inc. | 38,482 | 2,950 |
TEGNA Inc. | 177,429 | 2,933 | |
Group 1 Automotive Inc. | 11,024 | 2,915 | |
* | Goodyear Tire & Rubber Co. | 222,570 | 2,873 |
Signet Jewelers Ltd. | 35,238 | 2,643 | |
* | Tri Pointe Homes Inc. | 78,334 | 2,436 |
* | Helen of Troy Ltd. | 19,032 | 2,339 |
MDC Holdings Inc. | 46,371 | 2,200 | |
* | Carvana Co. | 42,531 | 2,141 |
* | M/I Homes Inc. | 21,282 | 2,090 |
Rush Enterprises Inc. Class A | 48,786 | 2,020 | |
* | Topgolf Callaway Brands Corp. | 113,553 | 1,980 |
American Eagle Outfitters Inc. | 111,769 | 1,896 | |
* | LGI Homes Inc. | 15,219 | 1,874 |
* | SkyWest Inc. | 38,328 | 1,729 |
Graham Holdings Co. Class B | 2,938 | 1,723 | |
Century Communities Inc. | 22,543 | 1,674 | |
Dana Inc. | 103,278 | 1,664 | |
* | Adtalem Global Education Inc. | 35,975 | 1,578 |
* | JetBlue Airways Corp. | 262,838 | 1,556 |
LCI Industries | 12,223 | 1,531 | |
Winnebago Industries Inc. | 23,406 | 1,518 | |
Spirit Airlines Inc. | 86,672 | 1,430 | |
Strategic Education Inc. | 17,844 | 1,383 | |
* | Skyline Champion Corp. | 18,815 | 1,341 |
* | ODP Corp. | 27,115 | 1,337 |
* | OPENLANE Inc. | 85,417 | 1,333 |
* | Vista Outdoor Inc. | 44,468 | 1,301 |
* | Central Garden & Pet Co. Class A | 31,322 | 1,278 |
Foot Locker Inc. | 64,973 | 1,275 | |
John Wiley & Sons Inc. Class A | 34,148 | 1,269 | |
* | Knowles Corp. | 72,247 | 1,158 |
MillerKnoll Inc. | 59,968 | 1,145 | |
* | Urban Outfitters Inc. | 33,754 | 1,121 |
HNI Corp. | 33,154 | 1,086 |
Shares | Market Value• ($000) | ||
La-Z-Boy Inc. | 34,241 | 1,056 | |
* | National Vision Holdings Inc. | 57,047 | 1,045 |
* | PROG Holdings Inc. | 29,484 | 1,011 |
* | Abercrombie & Fitch Co. Class A | 18,675 | 1,004 |
Allegiant Travel Co. | 11,245 | 999 | |
Scholastic Corp. | 22,576 | 981 | |
* | Sabre Corp. | 195,057 | 975 |
* | Overstock.com Inc. | 35,650 | 931 |
Perdoceo Education Corp. | 53,102 | 880 | |
Winmark Corp. | 2,276 | 866 | |
Monro Inc. | 24,604 | 806 | |
* | Leslie's Inc. | 127,756 | 800 |
Caleres Inc. | 27,313 | 783 | |
Red Rock Resorts Inc. Class A | 17,230 | 757 | |
Matthews International Corp. Class A | 17,371 | 733 | |
* | Sphere Entertainment Co. | 20,641 | 724 |
* | Green Brick Partners Inc. | 14,121 | 698 |
* | Beazer Homes USA Inc. | 23,382 | 685 |
* | American Axle & Manufacturing Holdings Inc. | 90,612 | 684 |
* | G-III Apparel Group Ltd. | 33,466 | 664 |
Sonic Automotive Inc. Class A | 12,444 | 664 | |
Steelcase Inc. Class A | 70,016 | 635 | |
Krispy Kreme Inc. | 47,329 | 634 | |
Standard Motor Products Inc. | 16,800 | 622 | |
* | Clean Energy Fuels Corp. | 135,346 | 577 |
Ethan Allen Interiors Inc. | 18,146 | 569 | |
* | MarineMax Inc. | 16,996 | 566 |
* | America's Car-Mart Inc. | 4,675 | 520 |
A-Mark Precious Metals Inc. | 15,146 | 517 | |
* | Thryv Holdings Inc. | 24,818 | 506 |
Gray Television Inc. | 62,006 | 500 | |
* | Chico's FAS Inc. | 95,732 | 491 |
Hanesbrands Inc. | 92,490 | 486 | |
PriceSmart Inc. | 6,089 | 484 | |
Guess? Inc. | 20,061 | 483 | |
Interface Inc. | 45,026 | 465 | |
* | Stagwell Inc. | 84,771 | 462 |
Papa John's International Inc. | 6,020 | 456 | |
* | Hovnanian Enterprises Inc. Class A | 3,793 | 451 |
* | Cardlytics Inc. | 26,396 | 440 |
Smith & Wesson Brands Inc. | 36,492 | 428 | |
* | Clear Channel Outdoor Holdings Inc. | 289,714 | 420 |
* | WW International Inc. | 42,577 | 413 |
* | Life Time Group Holdings Inc. | 24,020 | 413 |
Designer Brands Inc. Class A | 38,767 | 408 | |
* | GoPro Inc. Class A | 104,882 | 381 |
Haverty Furniture Cos. Inc. | 11,723 | 367 | |
* | Everi Holdings Inc. | 24,548 | 355 |
* | Stoneridge Inc. | 17,295 | 355 |
* | Hawaiian Holdings Inc. | 41,165 | 353 |
Rush Enterprises Inc. Class B | 7,469 | 343 | |
* | Central Garden & Pet Co. | 7,646 | 338 |
Movado Group Inc. | 12,317 | 337 | |
* | Gannett Co. Inc. | 112,688 | 328 |
* | Dream Finders Homes Inc. Class A | 11,326 | 326 |
* | Genesco Inc. | 9,431 | 323 |
Shoe Carnival Inc. | 13,108 | 303 | |
* | Boston Omaha Corp. Class A | 16,866 | 298 |
* | Malibu Boats Inc. Class A | 6,129 | 298 |
Shares | Market Value• ($000) | ||
Aaron's Co. Inc. | 24,698 | 298 | |
Sinclair Inc. | 23,279 | 294 | |
* | iHeartMedia Inc. Class A | 80,102 | 289 |
Marcus Corp. | 18,947 | 288 | |
Oxford Industries Inc. | 2,854 | 288 | |
* | Six Flags Entertainment Corp. | 12,439 | 286 |
* | Quotient Technology Inc. | 70,754 | 282 |
* | AMC Networks Inc. Class A | 24,142 | 281 |
* | Daily Journal Corp. | 855 | 252 |
* | Children's Place Inc. | 9,355 | 248 |
Johnson Outdoors Inc. Class A | 4,402 | 246 | |
* | Playstudios Inc. | 67,124 | 239 |
* | Holley Inc. | 41,532 | 237 |
* | Zumiez Inc. | 12,443 | 236 |
* | OneWater Marine Inc. Class A | 9,020 | 236 |
* | Cinemark Holdings Inc. | 14,322 | 233 |
* | Lindblad Expeditions Holdings Inc. | 24,855 | 225 |
Laureate Education Inc. | 15,964 | 222 | |
* | Lions Gate Entertainment Corp. Class B | 29,585 | 220 |
El Pollo Loco Holdings Inc. | 22,403 | 213 | |
* | Sweetgreen Inc. Class A | 14,811 | 213 |
* | Destination XL Group Inc. | 45,709 | 208 |
* | Carrols Restaurant Group Inc. | 28,913 | 202 |
* | Sleep Number Corp. | 7,817 | 200 |
* | Eastman Kodak Co. | 44,540 | 199 |
* | Sun Country Airlines Holdings Inc. | 13,147 | 196 |
* | BJ's Restaurants Inc. | 6,515 | 192 |
* | SES AI Corp. | 89,271 | 188 |
* | EW Scripps Co. Class A | 24,453 | 187 |
* | Outbrain Inc. | 32,824 | 187 |
Hooker Furnishings Corp. | 8,650 | 186 | |
* | 2U Inc. | 58,748 | 186 |
*,1 | Vuzix Corp. | 46,382 | 186 |
* | Legacy Housing Corp. | 8,133 | 184 |
* | ThredUP Inc. Class A | 46,099 | 184 |
* | Bally's Corp. | 10,312 | 171 |
* | Universal Technical Institute Inc. | 21,201 | 169 |
*,1 | AMMO Inc. | 70,445 | 161 |
* | Madison Square Garden Entertainment Corp. | 4,980 | 160 |
* | Lincoln Educational Services Corp. | 18,631 | 159 |
* | Tilly's Inc. Class A | 17,484 | 157 |
* | 1-800-Flowers.com Inc. Class A | 20,344 | 153 |
Clarus Corp. | 21,187 | 152 | |
*,1 | Stitch Fix Inc. Class A | 34,424 | 151 |
* | Vera Bradley Inc. | 20,629 | 148 |
* | Sportsman's Warehouse Holdings Inc. | 29,572 | 142 |
* | Liquidity Services Inc. | 7,613 | 139 |
Big Lots Inc. | 22,225 | 138 | |
* | Cooper-Standard Holdings Inc. | 9,191 | 137 |
*,1 | BARK Inc. | 85,504 | 137 |
* | Turtle Beach Corp. | 12,286 | 134 |
1 | Big 5 Sporting Goods Corp. | 16,792 | 133 |
* | Tile Shop Holdings Inc. | 22,506 | 133 |
* | First Watch Restaurant Group Inc. | 6,910 | 132 |
* | Snap One Holdings Corp. | 14,290 | 131 |
* | Selectquote Inc. | 106,556 | 130 |
Shares | Market Value• ($000) | ||
* | Chegg Inc. | 12,644 | 129 |
* | Traeger Inc. | 27,443 | 123 |
Weyco Group Inc. | 4,639 | 119 | |
* | Fiesta Restaurant Group Inc. | 13,919 | 117 |
* | Lazydays Holdings Inc. | 9,962 | 117 |
* | Latham Group Inc. | 30,558 | 113 |
* | Biglari Holdings Inc. Class B | 603 | 112 |
Escalade Inc. | 7,444 | 112 | |
* | JAKKS Pacific Inc. | 5,680 | 112 |
* | Lions Gate Entertainment Corp. Class A | 13,906 | 110 |
Purple Innovation Inc. | 50,213 | 109 | |
Cato Corp. Class A | 13,581 | 105 | |
* | Landsea Homes Corp. | 10,525 | 102 |
* | Chuy's Holdings Inc. | 2,574 | 98 |
* | Allbirds Inc. Class A | 74,345 | 96 |
* | VOXX International Corp. | 10,931 | 95 |
*,1 | ContextLogic Inc. Class A | 17,668 | 95 |
* | Brinker International Inc. | 2,773 | 91 |
* | Denny's Corp. | 9,574 | 91 |
* | Lands' End Inc. | 11,718 | 90 |
Rocky Brands Inc. | 5,070 | 90 | |
* | J Jill Inc. | 3,578 | 90 |
* | Reservoir Media Inc. | 15,615 | 85 |
Upbound Group Inc. | 2,687 | 82 | |
* | Fossil Group Inc. | 37,186 | 79 |
* | iRobot Corp. | 2,028 | 79 |
* | SeaWorld Entertainment Inc. | 1,582 | 77 |
* | Arlo Technologies Inc. | 7,810 | 76 |
Hibbett Inc. | 1,643 | 76 | |
Global Industrial Co. | 2,197 | 74 | |
* | Figs Inc. Class A | 11,661 | 72 |
Dine Brands Global Inc. | 1,231 | 67 | |
*,1 | Blink Charging Co. | 16,957 | 67 |
* | Duluth Holdings Inc. Class B | 9,962 | 63 |
* | Funko Inc. Class A | 8,531 | 60 |
* | Xponential Fitness Inc. Class A | 2,765 | 60 |
Build-A-Bear Workshop Inc. | 2,253 | 59 | |
Bluegreen Vacations Holding Corp. | 1,647 | 59 | |
Sturm Ruger & Co. Inc. | 1,026 | 53 | |
* | Emerald Holding Inc. | 12,302 | 52 |
* | Urban One Inc. | 9,423 | 51 |
* | Sally Beauty Holdings Inc. | 4,859 | 49 |
* | Rent the Runway Inc. Class A | 35,545 | 49 |
Wolverine World Wide Inc. | 5,869 | 47 | |
* | United Homes Group Inc. | 4,841 | 41 |
NL Industries Inc. | 7,326 | 38 | |
* | Vizio Holding Corp. Class A | 6,503 | 37 |
* | Urban One Inc. (XNCM) | 6,562 | 37 |
* | Bowlero Corp. | 3,212 | 35 |
* | Mondee Holdings Inc. | 5,042 | 33 |
* | European Wax Center Inc. Class A | 1,749 | 30 |
CompX International Inc. | 1,360 | 29 | |
Climb Global Solutions Inc. | 558 | 24 | |
* | Solo Brands Inc. Class A | 4,288 | 24 |
* | Century Casinos Inc. | 2,847 | 19 |
Nathan's Famous Inc. | 223 | 16 | |
* | Full House Resorts Inc. | 3,331 | 16 |
* | Savers Value Village Inc. | 376 | 9 |
* | Cava Group Inc. | 184 | 8 |
* | Liberty TripAdvisor Holdings Inc. Class B | 225 | 7 |
130,179 |
Shares | Market Value• ($000) | ||
Consumer Staples (2.5%) | |||
* | BellRing Brands Inc. | 77,600 | 3,220 |
* | Hostess Brands Inc. | 85,458 | 2,434 |
* | TreeHouse Foods Inc. | 35,834 | 1,667 |
Primo Water Corp. | 106,392 | 1,624 | |
Edgewell Personal Care Co. | 40,541 | 1,563 | |
Andersons Inc. | 25,398 | 1,304 | |
Vector Group Ltd. | 94,819 | 1,016 | |
Nu Skin Enterprises Inc. Class A | 39,460 | 943 | |
* | United Natural Foods Inc. | 46,788 | 942 |
Universal Corp. | 19,280 | 918 | |
Ingles Markets Inc. Class A | 11,111 | 868 | |
Weis Markets Inc. | 13,026 | 845 | |
* | Hain Celestial Group Inc. | 70,953 | 751 |
B&G Foods Inc. | 56,350 | 721 | |
Fresh Del Monte Produce Inc. | 26,993 | 690 | |
SpartanNash Co. | 27,687 | 602 | |
ACCO Brands Corp. | 74,007 | 394 | |
* | Duckhorn Portfolio Inc. | 27,842 | 346 |
* | Mission Produce Inc. | 32,628 | 311 |
* | Herbalife Ltd. | 20,585 | 309 |
Dole plc | 24,385 | 291 | |
Limoneira Co. | 13,777 | 212 | |
* | Seneca Foods Corp. Class A | 4,096 | 198 |
Oil-Dri Corp. of America | 2,862 | 193 | |
PetMed Express Inc. | 16,139 | 182 | |
* | Nature's Sunshine Products Inc. | 10,306 | 173 |
Village Super Market Inc. Class A | 6,896 | 155 | |
* | HF Foods Group Inc. | 31,467 | 149 |
* | GrowGeneration Corp. | 45,963 | 149 |
Alico Inc. | 5,568 | 131 | |
*,1 | Waldencast plc Class A | 15,770 | 124 |
Natural Grocers by Vitamin Cottage Inc. | 7,339 | 93 | |
Cal-Maine Foods Inc. | 1,881 | 90 | |
* | Benson Hill Inc. | 135,758 | 87 |
*,1 | Forafric Global plc | 4,123 | 46 |
* | Zevia PBC Class A | 8,381 | 22 |
* | SunOpta Inc. | 3,817 | 17 |
* | Brookfield Realty Capital Corp. Class A | 2,301 | 10 |
23,790 | |||
Energy (10.2%) | |||
Murphy Oil Corp. | 117,920 | 5,354 | |
Chord Energy Corp. | 33,082 | 5,343 | |
Matador Resources Co. | 73,733 | 4,682 | |
Civitas Resources Inc. | 54,697 | 4,497 | |
PBF Energy Inc. Class A | 92,024 | 4,315 | |
SM Energy Co. | 94,890 | 4,015 | |
California Resources Corp. | 56,838 | 3,174 | |
Helmerich & Payne Inc. | 79,317 | 3,172 | |
Arcosa Inc. | 38,333 | 2,998 | |
* | CNX Resources Corp. | 129,101 | 2,885 |
Permian Resources Corp. | 170,482 | 2,417 | |
Equitrans Midstream Corp. | 245,081 | 2,353 | |
Patterson-UTI Energy Inc. | 163,893 | 2,317 | |
CONSOL Energy Inc. | 26,826 | 2,308 | |
Peabody Energy Corp. | 98,780 | 2,132 | |
Liberty Energy Inc. | 127,763 | 2,038 | |
* | Seadrill Ltd. | 39,970 | 1,945 |
Alpha Metallurgical Resources Inc. | 9,551 | 1,937 | |
* | Callon Petroleum Co. | 48,441 | 1,900 |
Arch Resources Inc. | 14,476 | 1,891 |
Shares | Market Value• ($000) | ||
Golar LNG Ltd. | 75,002 | 1,658 | |
Warrior Met Coal Inc. | 40,970 | 1,621 | |
* | Talos Energy Inc. | 88,576 | 1,525 |
* | NexTier Oilfield Solutions Inc. | 131,840 | 1,399 |
Delek US Holdings Inc. | 52,700 | 1,357 | |
* | Diamond Offshore Drilling Inc. | 80,192 | 1,192 |
* | Green Plains Inc. | 37,895 | 1,176 |
* | Helix Energy Solutions Group Inc. | 113,491 | 1,151 |
Archrock Inc. | 89,869 | 1,149 | |
World Kinect Corp. | 49,085 | 1,075 | |
* | Expro Group Holdings NV | 43,738 | 1,028 |
* | NOW Inc. | 86,661 | 968 |
* | Gulfport Energy Corp. | 7,989 | 943 |
* | Par Pacific Holdings Inc. | 26,793 | 920 |
* | Earthstone Energy Inc. Class A | 44,948 | 916 |
Sitio Royalties Corp. Class A | 35,508 | 902 | |
Comstock Resources Inc. | 72,342 | 887 | |
* | Vital Energy Inc. | 13,293 | 801 |
Noble Corp. plc | 14,742 | 778 | |
* | ProPetro Holding Corp. | 78,195 | 754 |
* | Dril-Quip Inc. | 27,290 | 753 |
SunCoke Energy Inc. | 66,381 | 617 | |
Core Laboratories Inc. | 25,095 | 603 | |
*,1 | Stem Inc. | 111,997 | 570 |
Select Water Solutions Inc. | 67,380 | 542 | |
RPC Inc. | 66,944 | 535 | |
* | SilverBow Resources Inc. | 12,431 | 532 |
* | Bristow Group Inc. | 18,902 | 524 |
Berry Corp. | 60,284 | 517 | |
Vitesse Energy Inc. | 19,718 | 458 | |
* | Centrus Energy Corp. Class A | 9,597 | 456 |
* | FuelCell Energy Inc. | 321,562 | 450 |
* | Tellurian Inc. | 395,121 | 443 |
Kinetik Holdings Inc. | 12,257 | 430 | |
* | MRC Global Inc. | 43,582 | 406 |
SandRidge Energy Inc. | 25,110 | 402 | |
* | Oil States International Inc. | 49,282 | 386 |
* | REX American Resources Corp. | 9,250 | 365 |
* | Newpark Resources Inc. | 59,290 | 355 |
VAALCO Energy Inc. | 75,446 | 312 | |
Northern Oil and Gas Inc. | 6,982 | 292 | |
* | Solid Power Inc. | 121,463 | 258 |
* | DMC Global Inc. | 10,520 | 253 |
Crescent Energy Co. Class A | 18,286 | 249 | |
Solaris Oilfield Infrastructure Inc. Class A | 23,431 | 247 | |
*,1 | Energy Vault Holdings Inc. | 77,113 | 246 |
*,1 | Gevo Inc. | 182,032 | 238 |
Atlas Energy Solutions Inc. Class A | 10,602 | 226 | |
* | SEACOR Marine Holdings Inc. | 18,949 | 218 |
Magnolia Oil & Gas Corp. Class A | 9,231 | 210 | |
* | Hallador Energy Co. | 17,968 | 193 |
* | EVgo Inc. | 48,068 | 193 |
* | Amplify Energy Corp. | 28,498 | 186 |
* | Forum Energy Technologies Inc. | 7,723 | 183 |
* | Ring Energy Inc. | 94,037 | 178 |
* | ProFrac Holding Corp. Class A | 14,534 | 160 |
Granite Ridge Resources Inc. | 20,444 | 151 | |
Ranger Energy Services Inc. | 12,224 | 146 |
Shares | Market Value• ($000) | ||
Ramaco Resources Inc. Class A | 17,742 | 139 | |
NACCO Industries Inc. Class A | 3,279 | 107 | |
*,1 | Maxeon Solar Technologies Ltd. | 6,556 | 103 |
* | ESS Tech Inc. | 71,674 | 103 |
* | KLX Energy Services Holdings Inc. | 8,945 | 93 |
* | Mammoth Energy Services Inc. | 18,336 | 85 |
* | Nabors Industries Ltd. (XNYS) | 703 | 78 |
CVR Energy Inc. | 2,024 | 66 | |
* | PrimeEnergy Resources Corp. | 580 | 56 |
Ramaco Resources Inc. Class B | 3,545 | 38 | |
1 | HighPeak Energy Inc. | 1,357 | 20 |
*,1 | Verde Clean Fuels Inc. | 3,379 | 14 |
* | Kodiak Gas Services Inc. | 672 | 12 |
98,270 | |||
Financials (24.1%) | |||
SouthState Corp. | 60,103 | 4,345 | |
Essent Group Ltd. | 83,689 | 4,203 | |
Old National Bancorp | 231,765 | 3,537 | |
Radian Group Inc. | 123,960 | 3,357 | |
Home BancShares Inc. | 150,866 | 3,346 | |
* | American Equity Investment Life Holding Co. | 61,525 | 3,303 |
Cadence Bank | 144,177 | 3,299 | |
Valley National Bancorp | 341,696 | 3,137 | |
United Bankshares Inc. | 103,552 | 3,115 | |
Blackstone Mortgage Trust Inc. Class A | 136,751 | 3,011 | |
* | Mr Cooper Group Inc. | 52,616 | 2,981 |
Hancock Whitney Corp. | 68,619 | 2,831 | |
Glacier Bancorp Inc. | 88,256 | 2,666 | |
United Community Banks Inc. | 91,629 | 2,474 | |
Jackson Financial Inc. Class A | 64,342 | 2,419 | |
* | Enstar Group Ltd. | 9,427 | 2,388 |
* | Texas Capital Bancshares Inc. | 37,894 | 2,366 |
1 | Arbor Realty Trust Inc. | 142,546 | 2,275 |
* | Genworth Financial Inc. Class A | 383,896 | 2,223 |
UMB Financial Corp. | 35,049 | 2,215 | |
Walker & Dunlop Inc. | 25,185 | 2,149 | |
Ameris Bancorp | 52,380 | 2,134 | |
CNO Financial Group Inc. | 89,853 | 2,103 | |
Associated Banc-Corp. | 119,591 | 2,072 | |
Community Bank System Inc. | 42,212 | 2,007 | |
Cathay General Bancorp | 54,926 | 1,957 | |
International Bancshares Corp. | 42,554 | 1,906 | |
WSFS Financial Corp. | 48,469 | 1,905 | |
Independent Bank Corp. (XNGS) | 34,942 | 1,888 | |
CVB Financial Corp. | 105,367 | 1,840 | |
Simmons First National Corp. Class A | 99,786 | 1,778 | |
First BanCorp (XNYS) | 128,179 | 1,777 | |
Atlantic Union Bankshares Corp. | 59,499 | 1,767 | |
Pacific Premier Bancorp Inc. | 75,277 | 1,733 | |
Fulton Financial Corp. | 128,855 | 1,718 | |
* | NMI Holdings Inc. Class A | 59,767 | 1,711 |
* | Axos Financial Inc. | 39,450 | 1,700 |
First Interstate BancSystem Inc. Class A | 65,325 | 1,693 |
Shares | Market Value• ($000) | ||
Bank of Hawaii Corp. | 31,058 | 1,669 | |
Eastern Bankshares Inc. | 122,707 | 1,652 | |
Seacoast Banking Corp. of Florida | 66,743 | 1,576 | |
BankUnited Inc. | 58,918 | 1,547 | |
First Financial Bancorp | 74,340 | 1,545 | |
ServisFirst Bancshares Inc. | 26,722 | 1,497 | |
BancFirst Corp. | 15,013 | 1,435 | |
Washington Federal Inc. | 51,951 | 1,412 | |
First Merchants Corp. | 46,588 | 1,390 | |
Ready Capital Corp. | 126,295 | 1,379 | |
PennyMac Financial Services Inc. | 18,963 | 1,361 | |
Towne Bank | 55,471 | 1,309 | |
Navient Corp. | 73,106 | 1,290 | |
Apollo Commercial Real Estate Finance Inc. | 112,036 | 1,223 | |
Renasant Corp. | 43,665 | 1,216 | |
Independent Bank Group Inc. | 28,736 | 1,213 | |
* | Enova International Inc. | 23,961 | 1,209 |
* | StoneX Group Inc. | 12,546 | 1,178 |
Banner Corp. | 26,971 | 1,175 | |
WesBanco Inc. | 45,663 | 1,158 | |
Park National Corp. | 11,342 | 1,154 | |
NBT Bancorp Inc. | 33,117 | 1,140 | |
* | Triumph Financial Inc. | 17,641 | 1,133 |
* | Cannae Holdings Inc. | 57,315 | 1,125 |
Chimera Investment Corp. | 185,983 | 1,125 | |
Hilltop Holdings Inc. | 36,966 | 1,123 | |
Enterprise Financial Services Corp. | 28,731 | 1,112 | |
Northwest Bancshares Inc. | 100,933 | 1,110 | |
OFG Bancorp | 36,745 | 1,108 | |
Trustmark Corp. | 48,043 | 1,107 | |
Hamilton Lane Inc. Class A | 11,754 | 1,091 | |
Bank of NT Butterfield & Son Ltd. | 36,760 | 1,070 | |
Nelnet Inc. Class A | 11,591 | 1,065 | |
Two Harbors Investment Corp. | 76,730 | 1,057 | |
First Commonwealth Financial Corp. | 80,707 | 1,055 | |
Moelis & Co. Class A | 22,018 | 1,044 | |
Compass Diversified Holdings | 50,575 | 1,044 | |
Heartland Financial USA Inc. | 33,359 | 1,022 | |
City Holding Co. | 11,052 | 1,010 | |
Federal Agricultural Mortgage Corp. Class C | 6,000 | 1,010 | |
Virtus Investment Partners Inc. | 4,780 | 990 | |
Stewart Information Services Corp. | 21,124 | 978 | |
Ladder Capital Corp. | 89,071 | 976 | |
Lakeland Financial Corp. | 18,449 | 962 | |
Provident Financial Services Inc. | 57,956 | 955 | |
PennyMac Mortgage Investment Trust | 69,914 | 938 | |
First Bancorp (XNGS) | 31,415 | 931 | |
Franklin BSP Realty Trust Inc. REIT | 65,861 | 931 | |
Horace Mann Educators Corp. | 32,455 | 930 | |
National Bank Holdings Corp. Class A | 29,249 | 922 | |
MFA Financial Inc. REIT | 80,885 | 886 | |
Hope Bancorp Inc. | 91,151 | 881 | |
S&T Bancorp Inc. | 30,923 | 876 |
Shares | Market Value• ($000) | ||
* | Encore Capital Group Inc. | 18,360 | 860 |
Live Oak Bancshares Inc. | 26,436 | 855 | |
FB Financial Corp. | 28,026 | 851 | |
TriCo Bancshares | 24,538 | 843 | |
Employers Holdings Inc. | 21,318 | 836 | |
First Busey Corp. | 40,842 | 825 | |
Claros Mortgage Trust Inc. | 72,470 | 825 | |
National Western Life Group Inc. Class A | 1,790 | 814 | |
* | Customers Bancorp Inc. | 22,637 | 795 |
Veritex Holdings Inc. | 41,656 | 784 | |
Safety Insurance Group Inc. | 11,360 | 782 | |
OceanFirst Financial Corp. | 46,072 | 777 | |
Stellar Bancorp Inc. | 36,522 | 777 | |
Nicolet Bankshares Inc. | 10,206 | 774 | |
Sandy Spring Bancorp Inc. | 34,678 | 771 | |
ProAssurance Corp. | 42,747 | 756 | |
ARMOUR Residential REIT Inc. | 153,574 | 754 | |
PacWest Bancorp | 94,366 | 750 | |
Argo Group International Holdings Ltd. | 25,158 | 748 | |
Berkshire Hills Bancorp Inc. | 34,915 | 730 | |
* | SiriusPoint Ltd. | 65,709 | 727 |
Redwood Trust Inc. | 90,457 | 725 | |
Pathward Financial Inc. | 14,491 | 714 | |
Origin Bancorp Inc. | 23,160 | 711 | |
* | Oscar Health Inc. Class A | 112,088 | 703 |
BrightSpire Capital Inc. | 100,891 | 702 | |
Southside Bancshares Inc. | 23,287 | 701 | |
New York Mortgage Trust Inc. | 73,391 | 699 | |
Ellington Financial Inc. | 52,230 | 698 | |
Peoples Bancorp Inc. | 26,667 | 687 | |
QCR Holdings Inc. | 13,066 | 685 | |
First Bancshares Inc. | 24,070 | 683 | |
Enact Holdings Inc. | 23,797 | 682 | |
Lakeland Bancorp Inc. | 49,448 | 668 | |
Brookline Bancorp Inc. | 69,227 | 662 | |
Preferred Bank | 10,610 | 659 | |
German American Bancorp Inc. | 22,253 | 644 | |
BGC Group Inc. Class A | 128,756 | 636 | |
Westamerica BanCorp | 14,424 | 635 | |
Mercury General Corp. | 21,526 | 616 | |
* | PRA Group Inc. | 30,677 | 598 |
* | LendingClub Corp. | 85,144 | 593 |
Dime Community Bancshares Inc. | 27,845 | 593 | |
KKR Real Estate Finance Trust Inc. | 47,103 | 589 | |
1st Source Corp. | 13,150 | 588 | |
Eagle Bancorp Inc. | 24,316 | 585 | |
Bank First Corp. | 7,429 | 577 | |
Capitol Federal Financial Inc. | 101,533 | 576 | |
Tompkins Financial Corp. | 11,008 | 572 | |
ConnectOne Bancorp Inc. | 29,459 | 563 | |
Dynex Capital Inc. | 42,963 | 557 | |
Banc of California Inc. | 43,492 | 545 | |
Premier Financial Corp. | 28,097 | 529 | |
Banco Latinoamericano de Comercio Exterior SA Class E | 21,734 | 513 | |
Artisan Partners Asset Management Inc. Class A | 13,273 | 510 | |
Old Second Bancorp Inc. | 34,556 | 500 | |
Heritage Financial Corp. | 27,652 | 476 | |
*,1 | Lemonade Inc. | 33,805 | 465 |
Shares | Market Value• ($000) | ||
* | Ambac Financial Group Inc. | 35,292 | 455 |
Community Trust Bancorp Inc. | 12,280 | 436 | |
*,1 | Riot Platforms Inc. | 38,438 | 436 |
First Community Bankshares Inc. | 13,963 | 432 | |
James River Group Holdings Ltd. | 29,531 | 430 | |
First Mid Bancshares Inc. | 15,315 | 428 | |
Hanmi Financial Corp. | 24,346 | 422 | |
Mercantile Bank Corp. | 12,549 | 419 | |
TrustCo Bank Corp. NY | 14,711 | 419 | |
Univest Financial Corp. | 23,183 | 417 | |
Byline Bancorp Inc. | 19,350 | 410 | |
Heritage Commerce Corp. | 47,336 | 410 | |
TPG RE Finance Trust Inc. | 53,989 | 406 | |
Business First Bancshares Inc. | 19,229 | 393 | |
F&G Annuities & Life Inc. | 13,894 | 393 | |
Amerant Bancorp Inc. | 20,677 | 388 | |
Horizon Bancorp Inc. | 34,560 | 387 | |
* | CrossFirst Bankshares Inc. | 35,685 | 384 |
Invesco Mortgage Capital Inc. REIT | 33,984 | 382 | |
AMERISAFE Inc. | 7,324 | 379 | |
Midland States Bancorp Inc. | 17,077 | 379 | |
Washington Trust Bancorp Inc. | 13,552 | 379 | |
Farmers National Banc Corp. | 29,574 | 376 | |
Camden National Corp. | 11,436 | 375 | |
* | World Acceptance Corp. | 2,728 | 368 |
Peapack-Gladstone Financial Corp. | 13,334 | 364 | |
Central Pacific Financial Corp. | 21,333 | 362 | |
Great Southern Bancorp Inc. | 7,168 | 362 | |
Merchants Bancorp | 12,402 | 362 | |
Piper Sandler Cos. | 2,428 | 362 | |
Northfield Bancorp Inc. | 32,847 | 346 | |
Kearny Financial Corp. | 46,077 | 341 | |
First Financial Corp. | 9,185 | 337 | |
HarborOne Bancorp Inc. | 33,777 | 337 | |
1 | NewtekOne Inc. | 18,330 | 328 |
Cambridge Bancorp | 6,123 | 326 | |
American National Bankshares Inc. | 8,279 | 325 | |
United Fire Group Inc. | 16,428 | 325 | |
Brightsphere Investment Group Inc. | 15,651 | 324 | |
Flushing Financial Corp. | 22,721 | 321 | |
First Foundation Inc. | 40,009 | 314 | |
CNB Financial Corp. | 16,744 | 305 | |
Republic Bancorp Inc. Class A | 6,849 | 304 | |
Independent Bank Corp. | 15,787 | 301 | |
Bar Harbor Bankshares | 12,069 | 300 | |
* | MBIA Inc. | 37,778 | 298 |
* | Metropolitan Bank Holding Corp. | 7,481 | 298 |
Orchid Island Capital Inc. | 30,758 | 295 | |
Equity Bancshares Inc. Class A | 11,616 | 291 | |
Southern Missouri Bancorp Inc. | 6,705 | 284 | |
SmartFinancial Inc. | 12,384 | 282 | |
Alerus Financial Corp. | 14,422 | 281 | |
Metrocity Bankshares Inc. | 14,300 | 279 | |
* | Carter Bankshares Inc. | 18,453 | 264 |
Northeast Bank | 6,126 | 260 | |
Shore Bancshares Inc. | 23,330 | 258 | |
Amalgamated Financial Corp. | 14,347 | 257 |
Shares | Market Value• ($000) | ||
Mid Penn Bancorp Inc. | 11,556 | 253 | |
South Plains Financial Inc. | 9,632 | 253 | |
Tiptree Inc. | 14,122 | 249 | |
MidWestOne Financial Group Inc. | 11,569 | 247 | |
Bank of Marin Bancorp | 12,807 | 241 | |
West BanCorp Inc. | 12,946 | 240 | |
Peoples Financial Services Corp. | 5,451 | 238 | |
* | Columbia Financial Inc. | 13,670 | 235 |
Burke & Herbert Financial Services Corp. | 4,687 | 232 | |
Hingham Institution for Savings | 1,161 | 231 | |
NexPoint Diversified Real Estate Trust | 24,136 | 228 | |
First of Long Island Corp. | 17,389 | 227 | |
* | Greenlight Capital Re Ltd. Class A | 20,176 | 223 |
Sierra Bancorp | 11,079 | 220 | |
Citizens & Northern Corp. | 12,090 | 218 | |
Financial Institutions Inc. | 12,407 | 217 | |
Enterprise Bancorp Inc. | 7,481 | 216 | |
HomeTrust Bancshares Inc. | 9,471 | 216 | |
Civista Bancshares Inc. | 12,648 | 215 | |
Summit Financial Group Inc. | 8,730 | 215 | |
Granite Point Mortgage Trust Inc. | 39,910 | 213 | |
*,1 | Forge Global Holdings Inc. | 86,431 | 212 |
Capital City Bank Group Inc. | 6,899 | 210 | |
Capstar Financial Holdings Inc. | 16,050 | 210 | |
ACNB Corp. | 6,509 | 207 | |
Arrow Financial Corp. | 11,717 | 206 | |
Farmers & Merchants Bancorp Inc. | 10,639 | 203 | |
HBT Financial Inc. | 10,722 | 200 | |
Universal Insurance Holdings Inc. | 15,466 | 196 | |
First Bank | 16,977 | 194 | |
First Business Financial Services Inc. | 6,141 | 194 | |
MVB Financial Corp. | 8,251 | 194 | |
Chicago Atlantic Real Estate Finance Inc. | 12,858 | 194 | |
First Bancorp Inc. (XNGS) | 7,841 | 193 | |
Macatawa Bank Corp. | 21,110 | 193 | |
Guaranty Bancshares Inc. | 6,601 | 191 | |
RBB Bancorp | 13,700 | 187 | |
Orange County Bancorp Inc. | 4,020 | 187 | |
Home Bancorp Inc. | 5,662 | 185 | |
Donegal Group Inc. Class A | 12,334 | 180 | |
Northrim BanCorp Inc. | 4,331 | 180 | |
Waterstone Financial Inc. | 14,393 | 179 | |
* | Blue Foundry Bancorp | 19,318 | 179 |
Red River Bancshares Inc. | 3,771 | 178 | |
* | Third Coast Bancshares Inc. | 9,367 | 176 |
Timberland Bancorp Inc. | 6,142 | 174 | |
Fidelity D&D Bancorp Inc. | 3,668 | 174 | |
Orrstown Financial Services Inc. | 8,004 | 173 | |
John Marshall Bancorp Inc. | 9,741 | 172 | |
AFC Gamma Inc. | 12,808 | 170 | |
* | Southern First Bancshares Inc. | 5,991 | 168 |
* | Bridgewater Bancshares Inc. | 15,996 | 167 |
Northeast Community Bancorp Inc. | 10,535 | 167 |
Shares | Market Value• ($000) | ||
BayCom Corp. | 8,349 | 161 | |
Middlefield Banc Corp. | 6,186 | 160 | |
Norwood Financial Corp. | 5,805 | 157 | |
Codorus Valley Bancorp Inc. | 7,541 | 153 | |
* | FVCBankcorp Inc. | 12,547 | 153 |
* | Ocwen Financial Corp. | 5,048 | 153 |
Citizens Financial Services Inc. | 2,770 | 152 | |
Parke Bancorp Inc. | 8,464 | 146 | |
Regional Management Corp. | 5,305 | 146 | |
Penns Woods Bancorp Inc. | 5,581 | 145 | |
Capital Bancorp Inc. | 7,541 | 144 | |
Unity Bancorp Inc. | 5,927 | 143 | |
* | Skyward Specialty Insurance Group Inc. | 5,850 | 142 |
Primis Financial Corp. | 15,817 | 140 | |
C&F Financial Corp. | 2,590 | 138 | |
PCB Bancorp | 8,520 | 137 | |
Southern States Bancshares Inc. | 5,905 | 135 | |
BCB Bancorp Inc. | 11,778 | 134 | |
HomeStreet Inc. | 14,138 | 134 | |
Colony Bankcorp Inc. | 12,875 | 134 | |
Oak Valley Bancorp | 5,300 | 133 | |
ChoiceOne Financial Services Inc. | 5,494 | 132 | |
Plumas Bancorp | 3,752 | 131 | |
* | Ponce Financial Group Inc. | 16,086 | 129 |
* | First Western Financial Inc. | 6,257 | 127 |
Ames National Corp. | 7,042 | 126 | |
FS Bancorp Inc. | 4,201 | 125 | |
Five Star Bancorp | 5,733 | 125 | |
LCNB Corp. | 8,321 | 124 | |
MainStreet Bancshares Inc. | 5,479 | 124 | |
Virginia National Bankshares Corp. | 3,716 | 123 | |
* | Maiden Holdings Ltd. | 71,379 | 122 |
Bankwell Financial Group Inc. | 4,600 | 120 | |
National Bankshares Inc. | 4,545 | 120 | |
Stock Yards Bancorp Inc. | 2,621 | 120 | |
* | LendingTree Inc. | 6,296 | 119 |
Evans Bancorp Inc. | 4,123 | 117 | |
Princeton Bancorp Inc. | 4,000 | 117 | |
* | American Coastal Insurance Corp. Class C | 15,424 | 116 |
Central Valley Community Bancorp | 7,857 | 115 | |
Investors Title Co. | 776 | 112 | |
ESSA Bancorp Inc. | 6,841 | 109 | |
Blue Ridge Bankshares Inc. | 13,749 | 109 | |
Chemung Financial Corp. | 2,755 | 108 | |
Nexpoint Real Estate Finance Inc. | 6,306 | 108 | |
First Community Corp. | 5,798 | 100 | |
* | eHealth Inc. | 12,573 | 98 |
* | Sterling Bancorp Inc. | 16,581 | 98 |
Sculptor Capital Management Inc. | 8,403 | 98 | |
* | USCB Financial Holdings Inc. | 8,222 | 90 |
*,1 | Bakkt Holdings Inc. | 62,733 | 87 |
1 | Angel Oak Mortgage REIT Inc. | 9,236 | 86 |
* | Velocity Financial Inc. | 6,814 | 84 |
* | NI Holdings Inc. | 6,446 | 82 |
* | Pioneer Bancorp Inc. | 9,131 | 82 |
* | Security National Financial Corp. Class A | 9,836 | 81 |
* | Hippo Holdings Inc. | 8,148 | 81 |
Shares | Market Value• ($000) | ||
Greene County Bancorp Inc. | 2,627 | 76 | |
Victory Capital Holdings Inc. Class A | 2,139 | 74 | |
* | Avantax Inc. | 3,467 | 73 |
Luther Burbank Corp. | 8,010 | 73 | |
Bank7 Corp. | 2,768 | 70 | |
* | Consumer Portfolio Services Inc. | 7,240 | 67 |
* | Finance of America Cos. Inc. Class A | 41,793 | 59 |
* | Open Lending Corp. Class A | 6,186 | 51 |
* | GoHealth Inc. Class A | 3,085 | 49 |
* | SWK Holdings Corp. | 3,014 | 47 |
MarketWise Inc. | 24,851 | 34 | |
Esquire Financial Holdings Inc. | 622 | 29 | |
GCM Grosvenor Inc. Class A | 3,508 | 27 | |
*,1 | OppFi Inc. | 6,514 | 17 |
Value Line Inc. | 50 | 3 | |
232,747 | |||
Health Care (8.8%) | |||
* | Neogen Corp. | 172,105 | 3,979 |
* | Reata Pharmaceuticals Inc. Class A | 22,620 | 3,823 |
* | Prestige Consumer Healthcare Inc. | 39,346 | 2,295 |
* | Intellia Therapeutics Inc. | 59,828 | 2,242 |
* | Integer Holdings Corp. | 26,152 | 2,231 |
* | LivaNova plc | 40,122 | 2,229 |
Patterson Cos. Inc. | 54,553 | 1,639 | |
* | Veracyte Inc. | 57,920 | 1,529 |
* | NeoGenomics Inc. | 91,969 | 1,382 |
* | ImmunoGen Inc. | 80,342 | 1,273 |
* | Agios Pharmaceuticals Inc. | 44,813 | 1,229 |
* | Myriad Genetics Inc. | 63,789 | 1,139 |
* | Omnicell Inc. | 17,997 | 1,023 |
* | Pacific Biosciences of California Inc. | 90,485 | 1,021 |
* | Iovance Biotherapeutics Inc. | 164,944 | 996 |
* | Owens & Minor Inc. | 58,759 | 993 |
* | Twist Bioscience Corp. | 44,665 | 982 |
* | Recursion Pharmaceuticals Inc. Class A | 107,994 | 940 |
* | Pediatrix Medical Group Inc. | 66,487 | 939 |
* | Biohaven Ltd. | 46,185 | 845 |
* | Bridgebio Pharma Inc. | 27,569 | 825 |
* | Vir Biotechnology Inc. | 63,074 | 799 |
* | Avanos Medical Inc. | 36,664 | 771 |
* | Celldex Therapeutics Inc. | 27,432 | 765 |
* | Ligand Pharmaceuticals Inc. | 11,342 | 746 |
Embecta Corp. | 40,553 | 743 | |
* | Relay Therapeutics Inc. | 71,772 | 734 |
* | MiMedx Group Inc. | 90,400 | 671 |
* | Replimune Group Inc. | 32,395 | 662 |
National HealthCare Corp. | 9,924 | 654 | |
* | Quanterix Corp. | 23,495 | 630 |
* | Crinetics Pharmaceuticals Inc. | 35,627 | 617 |
* | Varex Imaging Corp. | 30,794 | 606 |
* | Arcus Biosciences Inc. | 29,429 | 603 |
* | Ironwood Pharmaceuticals Inc. | 67,218 | 592 |
* | Orthofix Medical Inc. | 27,993 | 592 |
* | OPKO Health Inc. | 320,344 | 586 |
* | Alphatec Holdings Inc. | 35,729 | 584 |
* | REGENXBIO Inc. | 32,595 | 577 |
* | Addus HomeCare Corp. | 6,552 | 575 |
* | Brookdale Senior Living Inc. | 135,367 | 575 |
Shares | Market Value• ($000) | ||
* | EQRx Inc. | 249,844 | 572 |
* | Point Biopharma Global Inc. | 71,145 | 566 |
* | Innoviva Inc. | 44,112 | 562 |
* | Fulgent Genetics Inc. | 16,271 | 533 |
* | Kura Oncology Inc. | 51,910 | 515 |
* | Multiplan Corp. | 301,231 | 515 |
* | Verve Therapeutics Inc. | 39,678 | 511 |
* | Arcturus Therapeutics Holdings Inc. | 16,734 | 508 |
* | Enhabit Inc. | 39,610 | 507 |
* | Editas Medicine Inc. | 54,367 | 484 |
*,1 | Theravance Biopharma Inc. | 48,464 | 461 |
* | AtriCure Inc. | 10,169 | 459 |
* | Xencor Inc. | 20,684 | 455 |
* | Ideaya Biosciences Inc. | 15,162 | 445 |
* | Artivion Inc. | 26,248 | 444 |
* | Kiniksa Pharmaceuticals Ltd. Class A | 24,670 | 425 |
* | OmniAb Inc. | 72,954 | 423 |
* | PTC Therapeutics Inc. | 10,661 | 421 |
* | Avidity Biosciences Inc. | 55,242 | 418 |
* | Amneal Pharmaceuticals Inc. | 95,870 | 392 |
* | CareDx Inc. | 40,938 | 381 |
* | OraSure Technologies Inc. | 58,302 | 377 |
* | Deciphera Pharmaceuticals Inc. | 26,656 | 374 |
* | Nevro Corp. | 18,415 | 369 |
* | 4D Molecular Therapeutics Inc. | 22,582 | 368 |
* | Sana Biotechnology Inc. | 67,421 | 361 |
* | AdaptHealth Corp. | 28,402 | 339 |
* | Community Health Systems Inc. | 98,192 | 332 |
* | NextGen Healthcare Inc. | 18,114 | 330 |
* | Lyell Immunopharma Inc. | 135,535 | 324 |
* | Tarsus Pharmaceuticals Inc. | 18,436 | 323 |
* | Agenus Inc. | 228,485 | 315 |
* | Bluebird Bio Inc. | 83,587 | 315 |
* | Protagonist Therapeutics Inc. | 15,788 | 313 |
* | Nurix Therapeutics Inc. | 36,593 | 311 |
*,1 | ProKidney Corp. | 36,112 | 310 |
* | LifeStance Health Group Inc. | 37,690 | 309 |
* | Zymeworks Inc. | 41,981 | 304 |
* | Cogent Biosciences Inc. | 24,533 | 300 |
* | ADMA Biologics Inc. | 77,233 | 297 |
*,1 | Enliven Therapeutics Inc. | 18,362 | 287 |
* | ORIC Pharmaceuticals Inc. | 30,696 | 275 |
* | American Well Corp. Class A | 191,608 | 272 |
* | Dyne Therapeutics Inc. | 23,592 | 269 |
*,1 | Nano-X Imaging Ltd. | 31,992 | 266 |
* | Caribou Biosciences Inc. | 44,403 | 262 |
* | SomaLogic Inc. | 118,087 | 261 |
* | BioCryst Pharmaceuticals Inc. | 36,346 | 258 |
* | Taro Pharmaceutical Industries Ltd. | 6,434 | 255 |
* | Allogene Therapeutics Inc. | 64,177 | 250 |
*,1 | Entrada Therapeutics Inc. | 16,833 | 248 |
* | Ardelyx Inc. | 57,801 | 246 |
* | Zimvie Inc. | 20,734 | 245 |
* | Vera Therapeutics Inc. | 13,765 | 244 |
* | AngioDynamics Inc. | 29,478 | 237 |
* | Castle Biosciences Inc. | 11,880 | 237 |
HealthStream Inc. | 11,229 | 236 | |
* | Dynavax Technologies Corp. | 16,312 | 234 |
* | iTeos Therapeutics Inc. | 19,360 | 234 |
* | MaxCyte Inc. | 63,417 | 232 |
* | Health Catalyst Inc. | 19,758 | 231 |
Shares | Market Value• ($000) | ||
* | Geron Corp. (XNGS) | 94,847 | 230 |
* | Vanda Pharmaceuticals Inc. | 44,117 | 229 |
* | Assertio Holdings Inc. | 69,622 | 228 |
* | Tango Therapeutics Inc. | 34,847 | 226 |
* | 23andMe Holding Co. Class A | 203,495 | 224 |
* | Aura Biosciences Inc. | 21,602 | 224 |
* | Sutro Biopharma Inc. | 47,003 | 223 |
* | PMV Pharmaceuticals Inc. | 30,122 | 217 |
*,1 | Sharecare Inc. | 228,551 | 217 |
* | Olema Pharmaceuticals Inc. | 21,117 | 214 |
* | KalVista Pharmaceuticals Inc. | 19,239 | 209 |
* | Edgewise Therapeutics Inc. | 33,444 | 209 |
* | Phathom Pharmaceuticals Inc. | 14,404 | 207 |
* | Anika Therapeutics Inc. | 11,429 | 204 |
* | 2seventy bio Inc. | 39,296 | 204 |
* | Savara Inc. | 56,193 | 203 |
* | Enanta Pharmaceuticals Inc. | 13,633 | 202 |
* | WaVe Life Sciences Ltd. | 46,503 | 202 |
* | Atea Pharmaceuticals Inc. | 59,837 | 201 |
* | Inhibrx Inc. | 9,128 | 195 |
* | Cytokinetics Inc. | 5,523 | 193 |
*,1 | Butterfly Network Inc. | 109,019 | 193 |
* | Cullinan Oncology Inc. | 18,582 | 192 |
* | Surgery Partners Inc. | 5,273 | 191 |
* | Inari Medical Inc. | 2,835 | 189 |
* | Nuvation Bio Inc. | 114,992 | 189 |
* | Precigen Inc. | 106,147 | 186 |
* | Emergent BioSolutions Inc. | 39,514 | 185 |
* | MannKind Corp. | 39,713 | 183 |
*,1 | Quantum-Si Inc. | 78,397 | 183 |
* | Computer Programs and Systems Inc. | 11,157 | 182 |
* | HilleVax Inc. | 12,782 | 171 |
* | Generation Bio Co. | 35,344 | 169 |
* | Icosavax Inc. | 21,683 | 168 |
* | Fate Therapeutics Inc. | 66,646 | 167 |
* | Erasca Inc. | 63,047 | 163 |
Phibro Animal Health Corp. Class A | 11,455 | 160 | |
* | ANI Pharmaceuticals Inc. | 2,461 | 158 |
* | Ovid therapeutics Inc. | 46,901 | 158 |
* | Adaptive Biotechnologies Corp. | 23,254 | 157 |
* | Syndax Pharmaceuticals Inc. | 8,401 | 156 |
* | MacroGenics Inc. | 33,123 | 154 |
* | Allakos Inc. | 52,290 | 151 |
* | Morphic Holding Inc. | 2,733 | 151 |
* | Compass Therapeutics Inc. | 64,537 | 150 |
1 | Carisma Therapeutics Inc. | 20,967 | 145 |
* | Alpine Immune Sciences Inc. | 11,599 | 143 |
* | Monte Rosa Therapeutics Inc. | 23,819 | 140 |
* | Scholar Rock Holding Corp. | 22,310 | 139 |
* | Beam Therapeutics Inc. | 5,989 | 139 |
* | Janux Therapeutics Inc. | 12,650 | 139 |
* | Eagle Pharmaceuticals Inc. | 8,135 | 138 |
* | Zevra Therapeutics Inc. | 27,280 | 138 |
* | Tenaya Therapeutics Inc. | 35,760 | 138 |
* | Organogenesis Holdings Inc. | 48,782 | 137 |
* | Cutera Inc. | 11,478 | 131 |
* | CareMax Inc. | 58,779 | 131 |
* | Inozyme Pharma Inc. | 26,625 | 130 |
* | Celcuity Inc. | 13,560 | 129 |
*,2 | Scilex Holding Co. (Acquired 1/6/23, Cost $525) | 50,101 | 129 |
*,1 | Rallybio Corp. | 24,022 | 128 |
* | Viridian Therapeutics Inc. | 7,015 | 127 |
Shares | Market Value• ($000) | ||
* | Nautilus Biotechnology Inc. | 39,435 | 127 |
* | Gritstone bio Inc. | 69,022 | 126 |
* | 908 Devices Inc. | 17,525 | 126 |
* | Sangamo Therapeutics Inc. | 129,067 | 125 |
* | Stoke Therapeutics Inc. | 21,570 | 121 |
* | Seer Inc. | 45,814 | 121 |
* | Inogen Inc. | 18,210 | 113 |
* | Poseida Therapeutics Inc. | 53,446 | 112 |
* | Rapt Therapeutics Inc. | 5,636 | 108 |
* | Tyra Biosciences Inc. | 6,980 | 106 |
* | ARS Pharmaceuticals Inc. | 14,855 | 105 |
* | Mineralys Therapeutics Inc. | 8,126 | 104 |
* | Allovir Inc. | 32,787 | 103 |
*,1 | Novavax Inc. | 12,454 | 100 |
* | Annexon Inc. | 35,893 | 99 |
*,1 | Omeros Corp. | 28,344 | 98 |
* | Altimmune Inc. | 38,875 | 98 |
* | Atara Biotherapeutics Inc. | 66,587 | 97 |
* | Cara Therapeutics Inc. | 36,507 | 94 |
* | EyePoint Pharmaceuticals Inc. | 9,352 | 93 |
* | Third Harmonic Bio Inc. | 15,278 | 93 |
* | Seres Therapeutics Inc. | 25,546 | 88 |
* | Fennec Pharmaceuticals Inc. | 10,615 | 87 |
* | BioAtla Inc. | 34,785 | 87 |
* | Protalix BioTherapeutics Inc. | 44,183 | 84 |
* | Selecta Biosciences Inc. | 67,660 | 83 |
* | Kezar Life Sciences Inc. | 55,826 | 83 |
* | XOMA Corp. | 5,749 | 81 |
* | Codexis Inc. | 45,791 | 80 |
* | Aadi Bioscience Inc. | 12,748 | 80 |
* | Acrivon Therapeutics Inc. | 6,813 | 80 |
* | Rocket Pharmaceuticals Inc. | 5,051 | 79 |
*,1 | Citius Pharmaceuticals Inc. | 86,129 | 79 |
* | Y-mAbs Therapeutics Inc. | 15,397 | 78 |
* | Ikena Oncology Inc. | 16,718 | 78 |
* | IGM Biosciences Inc. | 10,687 | 76 |
* | Vigil Neuroscience Inc. | 12,645 | 76 |
* | Arbutus Biopharma Corp. | 36,795 | 75 |
* | Larimar Therapeutics Inc. | 20,173 | 75 |
* | Liquidia Corp. | 10,876 | 75 |
* | Travere Therapeutics Inc. | 5,159 | 74 |
* | Vor BioPharma Inc. | 29,634 | 74 |
* | ALX Oncology Holdings Inc. | 16,894 | 72 |
* | Trevi Therapeutics Inc. | 32,735 | 72 |
* | FibroGen Inc. | 71,454 | 69 |
* | Lexicon Pharmaceuticals Inc. | 39,855 | 69 |
* | Arvinas Inc. | 2,405 | 68 |
* | Sage Therapeutics Inc. | 3,360 | 67 |
* | PetIQ Inc. | 3,483 | 66 |
* | NGM Biopharmaceuticals Inc. | 34,175 | 65 |
* | Design Therapeutics Inc. | 25,590 | 63 |
* | X4 Pharmaceuticals Inc. | 48,408 | 62 |
* | Terns Pharmaceuticals Inc. | 11,454 | 60 |
* | Coherus Biosciences Inc. | 11,003 | 59 |
* | Kodiak Sciences Inc. | 25,318 | 56 |
* | OrthoPediatrics Corp. | 1,473 | 56 |
*,1 | Cano Health Inc. | 173,816 | 54 |
* | AnaptysBio Inc. | 2,589 | 51 |
* | Thorne HealthTech Inc. | 5,002 | 51 |
* | UroGen Pharma Ltd. | 2,799 | 49 |
* | Graphite Bio Inc. | 22,043 | 49 |
* | Theseus Pharmaceuticals Inc. | 15,673 | 49 |
* | Adicet Bio Inc. | 23,729 | 47 |
* | Longboard Pharmaceuticals Inc. | 8,029 | 47 |
*,1 | Pulse Biosciences Inc. | 9,456 | 45 |
* | Century Therapeutics Inc. | 17,627 | 44 |
Shares | Market Value• ($000) | ||
* | Aveanna Healthcare Holdings Inc. | 30,106 | 43 |
* | Day One Biopharmaceuticals Inc. | 3,217 | 43 |
* | MeiraGTx Holdings plc | 6,600 | 42 |
* | Nkarta Inc. | 23,585 | 41 |
*,1 | Zura Bio Ltd. | 5,959 | 41 |
* | Accolade Inc. | 2,924 | 39 |
* | Genelux Corp. | 1,623 | 39 |
* | PepGen Inc. | 5,965 | 38 |
* | Mersana Therapeutics Inc. | 30,263 | 34 |
* | Immuneering Corp. Class A | 3,768 | 34 |
Healthcare Services Group Inc. | 2,765 | 32 | |
* | Cabaletta Bio Inc. | 2,195 | 31 |
*,1 | Ocean Biomedical Inc. | 6,827 | 31 |
* | BioLife Solutions Inc. | 2,201 | 29 |
* | Prelude Therapeutics Inc. | 7,794 | 29 |
* | Biote Corp. Class A | 5,937 | 29 |
* | Rigel Pharmaceuticals Inc. | 24,503 | 28 |
* | Agiliti Inc. | 2,931 | 28 |
* | Vicarious Surgical Inc. | 29,095 | 27 |
*,1 | Invitae Corp. | 26,698 | 25 |
* | ImmunityBio Inc. | 14,864 | 24 |
* | Humacyte Inc. | 6,114 | 23 |
* | Astria Therapeutics Inc. | 2,452 | 22 |
Utah Medical Products Inc. | 232 | 21 | |
* | ClearPoint Neuro Inc. | 3,579 | 21 |
* | Disc Medicine Inc. | 392 | 21 |
* | CVRx Inc. | 1,117 | 19 |
* | NanoString Technologies Inc. | 7,174 | 18 |
* | Reneo Pharmaceuticals Inc. | 2,649 | 16 |
*,1 | Heron Therapeutics Inc. | 8,114 | 13 |
* | Accuray Inc. | 3,836 | 11 |
* | Rain Oncology Inc. | 10,022 | 11 |
* | CorMedix Inc. | 2,520 | 10 |
* | AirSculpt Technologies Inc. | 1,326 | 10 |
* | Beyond Air Inc. | 2,595 | 8 |
* | Actinium Pharmaceuticals Inc. | 1,159 | 7 |
* | Sagimet Biosciences Inc. Class A | 317 | 4 |
* | Apogee Therapeutics Inc. | 166 | 4 |
* | Turnstone Biologics Corp. | 287 | 3 |
*,3 | PDL BioPharma Inc. | 270 | 1 |
*,3 | OmniAb Inc. 12.5 Earnout | 4,268 | — |
*,3 | OmniAb Inc. 15 Earnout | 4,268 | — |
* | ATI Physical Therapy Inc. | 1 | — |
85,332 | |||
Industrials (14.7%) | |||
* | Summit Materials Inc. Class A | 94,517 | 3,536 |
GATX Corp. | 26,345 | 3,112 | |
Triton International Ltd. | 36,624 | 3,073 | |
* | Beacon Roofing Supply Inc. | 38,195 | 3,050 |
Zurn Elkay Water Solutions Corp. | 93,618 | 2,773 | |
Matson Inc. | 28,162 | 2,475 | |
* | Alight Inc. Class A | 313,898 | 2,398 |
ABM Industries Inc. | 52,306 | 2,376 | |
* | Chart Industries Inc. | 12,899 | 2,329 |
* | ASGN Inc. | 28,059 | 2,305 |
EnPro Industries Inc. | 16,607 | 2,265 | |
* | Itron Inc. | 32,520 | 2,225 |
Encore Wire Corp. | 13,250 | 2,184 | |
Korn Ferry | 41,245 | 2,103 | |
Scorpio Tankers Inc. | 41,622 | 2,102 |
Shares | Market Value• ($000) | ||
UniFirst Corp. | 11,869 | 2,090 | |
Moog Inc. Class A | 17,917 | 2,081 | |
* | Knife River Corp. | 40,276 | 2,073 |
* | Marqeta Inc. Class A | 336,870 | 2,072 |
* | Hub Group Inc. Class A | 25,929 | 2,024 |
* | Resideo Technologies Inc. | 115,802 | 1,952 |
Werner Enterprises Inc. | 42,758 | 1,779 | |
Veritiv Corp. | 10,369 | 1,745 | |
Kennametal Inc. | 63,925 | 1,692 | |
* | AAR Corp. | 27,415 | 1,689 |
* | Kratos Defense & Security Solutions Inc. | 99,316 | 1,598 |
* | GMS Inc. | 22,381 | 1,552 |
* | API Group Corp. | 54,136 | 1,524 |
Barnes Group Inc. | 38,662 | 1,519 | |
Bread Financial Holdings Inc. | 39,975 | 1,502 | |
Greif Inc. Class A | 19,269 | 1,399 | |
Primoris Services Corp. | 39,182 | 1,386 | |
International Seaways Inc. | 32,185 | 1,383 | |
* | Mirion Technologies Inc. | 159,425 | 1,361 |
Textainer Group Holdings Ltd. | 34,275 | 1,358 | |
Terex Corp. | 22,351 | 1,355 | |
* | Masterbrand Inc. | 102,845 | 1,317 |
Trinity Industries Inc. | 52,394 | 1,314 | |
Otter Tail Corp. | 15,360 | 1,265 | |
Patrick Industries Inc. | 14,880 | 1,245 | |
Granite Construction Inc. | 30,117 | 1,244 | |
* | Hillman Solutions Corp. | 136,818 | 1,238 |
ArcBest Corp. | 11,534 | 1,218 | |
Belden Inc. | 12,750 | 1,197 | |
* | StoneCo. Ltd. Class A | 90,318 | 1,107 |
* | Joby Aviation Inc. | 147,957 | 1,102 |
Greenbrier Cos. Inc. | 24,897 | 1,060 | |
SFL Corp. Ltd. | 90,929 | 1,028 | |
* | JELD-WEN Holding Inc. | 67,514 | 1,018 |
Astec Industries Inc. | 18,339 | 1,005 | |
DHT Holdings Inc. | 108,196 | 1,001 | |
* | CoreCivic Inc. | 89,817 | 966 |
AZZ Inc. | 19,602 | 962 | |
* | Air Transport Services Group Inc. | 44,593 | 961 |
* | American Woodmark Corp. | 12,317 | 957 |
ESCO Technologies Inc. | 8,533 | 913 | |
TriMas Corp. | 32,786 | 859 | |
*,1 | Archer Aviation Inc. Class A | 121,191 | 845 |
Columbus McKinnon Corp. | 22,315 | 841 | |
* | Gibraltar Industries Inc. | 10,734 | 805 |
Teekay Tankers Ltd. Class A | 18,914 | 769 | |
* | Aurora Innovation Inc. | 239,218 | 758 |
Quanex Building Products Corp. | 26,668 | 720 | |
1 | Golden Ocean Group Ltd. | 97,457 | 712 |
Deluxe Corp. | 34,532 | 698 | |
* | Modine Manufacturing Co. | 14,533 | 692 |
* | Thermon Group Holdings Inc. | 23,498 | 646 |
Nordic American Tankers Ltd. | 162,685 | 636 | |
*,1 | PureCycle Technologies Inc. | 71,076 | 635 |
* | BlueLinx Holdings Inc. | 6,949 | 620 |
* | Proto Labs Inc. | 20,973 | 619 |
Powell Industries Inc. | 7,303 | 613 | |
* | Repay Holdings Corp. | 64,967 | 599 |
* | Cross Country Healthcare Inc. | 23,002 | 593 |
Griffon Corp. | 14,058 | 589 | |
Tennant Co. | 6,949 | 573 | |
Heartland Express Inc. | 37,221 | 562 | |
*,1 | Nikola Corp. | 466,873 | 551 |
First Advantage Corp. | 39,490 | 551 |
Shares | Market Value• ($000) | ||
* | PagSeguro Digital Ltd. Class A | 61,105 | 549 |
* | Green Dot Corp. Class A | 36,931 | 548 |
Apogee Enterprises Inc. | 10,764 | 543 | |
* | Titan International Inc. | 41,254 | 519 |
Insteel Industries Inc. | 14,752 | 513 | |
* | Titan Machinery Inc. | 16,421 | 509 |
Kaman Corp. | 22,489 | 504 | |
* | Evolv Technologies Holdings Inc. | 71,857 | 502 |
Kelly Services Inc. Class A | 26,309 | 486 | |
* | SPX Technologies Inc. | 6,155 | 486 |
VSE Corp. | 8,547 | 485 | |
* | Manitowoc Co. Inc. | 28,131 | 476 |
1 | Eagle Bulk Shipping Inc. | 10,875 | 476 |
* | Triumph Group Inc. | 50,344 | 474 |
* | Great Lakes Dredge & Dock Corp. | 52,684 | 465 |
* | V2X Inc. | 9,188 | 462 |
Genco Shipping & Trading Ltd. | 33,605 | 459 | |
Gorman-Rupp Co. | 14,227 | 457 | |
Ennis Inc. | 20,336 | 433 | |
Argan Inc. | 10,134 | 430 | |
* | Conduent Inc. | 134,432 | 422 |
* | DXP Enterprises Inc. | 11,549 | 411 |
Heidrick & Struggles International Inc. | 15,497 | 411 | |
Ardmore Shipping Corp. | 32,808 | 408 | |
Costamare Inc. | 38,764 | 400 | |
* | Ducommun Inc. | 8,784 | 399 |
* | Desktop Metal Inc. Class A | 219,136 | 394 |
Resources Connection Inc. | 25,337 | 393 | |
* | Cimpress plc | 6,087 | 393 |
* | TrueBlue Inc. | 23,752 | 359 |
* | Astronics Corp. | 20,309 | 356 |
* | O-I Glass Inc. | 17,944 | 356 |
* | Vishay Precision Group Inc. | 9,678 | 349 |
* | Hudson Technologies Inc. | 28,893 | 348 |
* | Teekay Corp. | 53,556 | 343 |
* | Paysafe Ltd. | 26,015 | 341 |
Covenant Logistics Group Inc. | 6,836 | 336 | |
REV Group Inc. | 24,716 | 336 | |
Miller Industries Inc. | 8,357 | 334 | |
HB Fuller Co. | 4,556 | 330 | |
Greif Inc. Class B | 4,397 | 328 | |
* | CECO Environmental Corp. | 23,349 | 322 |
National Presto Industries Inc. | 4,034 | 302 | |
* | ACI Worldwide Inc. | 12,212 | 297 |
* | Aersale Corp. | 19,998 | 296 |
* | Tutor Perini Corp. | 33,164 | 295 |
Trinseo plc | 27,333 | 288 | |
Albany International Corp. Class A | 3,084 | 286 | |
* | Blue Bird Corp. | 12,798 | 280 |
* | Donnelley Financial Solutions Inc. | 5,579 | 275 |
Dorian LPG Ltd. | 10,580 | 273 | |
FTAI Infrastructure Inc. | 77,833 | 271 | |
* | Fluor Corp. | 7,678 | 269 |
Standex International Corp. | 1,749 | 269 | |
* | BrightView Holdings Inc. | 32,303 | 267 |
Luxfer Holdings plc | 21,488 | 259 | |
Pactiv Evergreen Inc. | 31,265 | 257 | |
* | Aspen Aerogels Inc. | 40,183 | 245 |
* | Sterling Check Corp. | 17,398 | 243 |
* | Sterling Infrastructure Inc. | 2,918 | 241 |
Flex LNG Ltd. | 7,793 | 236 |
Shares | Market Value• ($000) | ||
* | Willdan Group Inc. | 9,570 | 231 |
EnerSys | 2,193 | 230 | |
* | FARO Technologies Inc. | 14,498 | 230 |
* | Babcock & Wilcox Enterprises Inc. | 41,946 | 220 |
* | RXO Inc. | 12,159 | 220 |
* | Virgin Galactic Holdings Inc. | 86,332 | 218 |
* | Ranpak Holdings Corp. | 33,864 | 214 |
* | Limbach Holdings Inc. | 5,915 | 214 |
Park Aerospace Corp. | 15,353 | 209 | |
Eneti Inc. | 19,288 | 209 | |
* | Commercial Vehicle Group Inc. | 22,459 | 207 |
* | Overseas Shipholding Group Inc. Class A | 45,410 | 200 |
* | Radiant Logistics Inc. | 28,904 | 195 |
Marten Transport Ltd. | 9,096 | 191 | |
* | Advantage Solutions Inc. | 67,872 | 190 |
* | CS Disco Inc. | 19,217 | 183 |
*,1 | Microvast Holdings Inc. | 82,283 | 183 |
Preformed Line Products Co. | 1,047 | 177 | |
Safe Bulkers Inc. | 55,194 | 177 | |
* | TuSimple Holdings Inc. Class A | 130,113 | 163 |
Pangaea Logistics Solutions Ltd. | 28,657 | 162 | |
* | Core Molding Technologies Inc. | 5,649 | 153 |
Kronos Worldwide Inc. | 17,361 | 146 | |
*,1 | Blade Air Mobility Inc. | 45,714 | 146 |
Universal Logistics Holdings Inc. | 5,329 | 145 | |
* | Hyliion Holdings Corp. | 115,318 | 141 |
*,1 | Danimer Scientific Inc. | 68,507 | 134 |
* | DHI Group Inc. | 34,200 | 129 |
* | BlackSky Technology Inc. | 92,952 | 126 |
Park-Ohio Holdings Corp. | 6,602 | 124 | |
* | Quad/Graphics Inc. | 24,268 | 124 |
*,1 | Tingo Group Inc. | 96,069 | 124 |
* | Hireright Holdings Corp. | 11,792 | 123 |
* | Atlanticus Holdings Corp. | 3,435 | 120 |
* | Gencor Industries Inc. | 8,296 | 118 |
* | Acacia Research Corp. | 29,882 | 114 |
* | Cantaloupe Inc. | 14,392 | 114 |
* | NV5 Global Inc. | 1,075 | 109 |
Chase Corp. | 855 | 108 | |
* | AvidXchange Holdings Inc. | 9,901 | 102 |
*,1 | Workhorse Group Inc. | 123,805 | 98 |
* | PAM Transportation Services Inc. | 4,232 | 98 |
* | Willis Lease Finance Corp. | 2,234 | 95 |
* | Mayville Engineering Co. Inc. | 7,918 | 93 |
* | CIRCOR International Inc. | 1,608 | 90 |
*,1 | Himalaya Shipping Ltd. | 17,787 | 88 |
* | Mistras Group Inc. | 16,385 | 87 |
* | Skillsoft Corp. | 62,539 | 82 |
LSI Industries Inc. | 4,984 | 79 | |
* | Terran Orbital Corp. | 62,019 | 76 |
* | Iteris Inc. | 15,417 | 71 |
* | CryoPort Inc. | 4,803 | 68 |
Information Services Group Inc. | 12,576 | 65 | |
* | Concrete Pumping Holdings Inc. | 8,381 | 64 |
* | INNOVATE Corp. | 29,686 | 48 |
Cass Information Systems Inc. | 1,231 | 47 | |
Barrett Business Services Inc. | 394 | 38 |
Shares | Market Value• ($000) | ||
* | Performant Financial Corp. | 13,336 | 31 |
* | Eos Energy Enterprises Inc. | 8,455 | 27 |
*,1 | Southland Holdings Inc. | 2,809 | 19 |
* | Distribution Solutions Group Inc. | 343 | 18 |
* | EVI Industries Inc. | 621 | 16 |
*,1 | CompoSecure Inc. | 1,627 | 10 |
* | Atmus Filtration Technologies Inc. | 334 | 8 |
142,077 | |||
Other (0.0%)4 | |||
*,3 | Aduro Biotech Inc. CVR | 724 | — |
Real Estate (10.8%) | |||
Terreno Realty Corp. | 64,706 | 3,940 | |
Kite Realty Group Trust | 172,679 | 3,897 | |
Independence Realty Trust Inc. | 178,661 | 3,007 | |
PotlatchDeltic Corp. | 62,580 | 2,958 | |
Physicians Realty Trust | 188,516 | 2,622 | |
Phillips Edison & Co. Inc. | 77,347 | 2,619 | |
Apple Hospitality REIT Inc. | 170,258 | 2,557 | |
Essential Properties Realty Trust Inc. | 104,756 | 2,516 | |
Broadstone Net Lease Inc. | 148,452 | 2,401 | |
Corporate Office Properties Trust | 89,016 | 2,304 | |
Sabra Health Care REIT Inc. | 182,950 | 2,292 | |
LXP Industrial Trust | 229,195 | 2,251 | |
1 | SL Green Realty Corp. | 52,580 | 2,064 |
SITE Centers Corp. | 150,854 | 2,014 | |
Macerich Co. | 171,034 | 1,999 | |
Innovative Industrial Properties Inc. | 22,100 | 1,929 | |
Douglas Emmett Inc. | 134,673 | 1,841 | |
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 75,464 | 1,688 | |
* | Opendoor Technologies Inc. | 410,955 | 1,603 |
Equity Commonwealth | 83,343 | 1,586 | |
Four Corners Property Trust Inc. | 61,040 | 1,536 | |
DigitalBridge Group Inc. | 87,890 | 1,531 | |
National Health Investors Inc. | 29,886 | 1,528 | |
Kennedy-Wilson Holdings Inc. | 94,520 | 1,510 | |
Urban Edge Properties | 90,526 | 1,481 | |
Sunstone Hotel Investors Inc. | 164,602 | 1,478 | |
CareTrust REIT Inc. | 72,069 | 1,452 | |
JBG SMITH Properties | 89,215 | 1,399 | |
Pebblebrook Hotel Trust | 96,415 | 1,395 | |
DiamondRock Hospitality Co. | 165,946 | 1,338 | |
Retail Opportunity Investments Corp. | 96,935 | 1,305 | |
InvenTrust Properties Corp. | 53,711 | 1,284 | |
RLJ Lodging Trust | 125,897 | 1,258 | |
* | Cushman & Wakefield plc | 130,711 | 1,201 |
* | Veris Residential Inc. | 62,637 | 1,166 |
Acadia Realty Trust | 73,822 | 1,099 | |
Service Properties Trust | 130,156 | 1,075 | |
Getty Realty Corp. | 35,541 | 1,067 | |
Elme Communities | 69,315 | 1,066 | |
LTC Properties Inc. | 32,351 | 1,063 | |
Xenia Hotels & Resorts Inc. | 88,206 | 1,041 | |
Alexander & Baldwin Inc. | 57,223 | 1,031 | |
Uniti Group Inc. | 188,699 | 1,013 | |
* | Radius Global Infrastructure Inc. Class A (XNMS) | 67,011 | 1,000 |
Shares | Market Value• ($000) | ||
Tanger Factory Outlet Centers Inc. | 42,792 | 995 | |
Easterly Government Properties Inc. | 73,024 | 976 | |
Global Net Lease Inc. | 82,585 | 937 | |
Empire State Realty Trust Inc. Class A | 104,374 | 911 | |
Apartment Investment and Management Co. Class A | 117,549 | 895 | |
American Assets Trust Inc. | 38,583 | 826 | |
NETSTREIT Corp. | 48,493 | 821 | |
Necessity Retail REIT Inc. | 106,872 | 802 | |
Plymouth Industrial REIT Inc. | 34,093 | 781 | |
Centerspace | 11,966 | 775 | |
RPT Realty | 68,142 | 773 | |
Paramount Group Inc. | 149,292 | 767 | |
Newmark Group Inc. Class A | 106,827 | 757 | |
Hudson Pacific Properties Inc. | 108,695 | 740 | |
Outfront Media Inc. | 61,899 | 703 | |
* | GEO Group Inc. | 94,388 | 683 |
Brandywine Realty Trust | 135,220 | 676 | |
Piedmont Office Realty Trust Inc. Class A | 97,974 | 673 | |
Armada Hoffler Properties Inc. | 53,470 | 609 | |
UMH Properties Inc. | 35,794 | 535 | |
Diversified Healthcare Trust | 190,207 | 516 | |
* | Anywhere Real Estate Inc. | 78,124 | 513 |
Safehold Inc. | 23,309 | 496 | |
Summit Hotel Properties Inc. | 83,599 | 486 | |
Global Medical REIT Inc. | 48,921 | 474 | |
NexPoint Residential Trust Inc. | 12,497 | 469 | |
1 | Farmland Partners Inc. | 40,384 | 448 |
1 | Peakstone Realty Trust | 21,884 | 430 |
Gladstone Land Corp. | 26,898 | 423 | |
Ares Commercial Real Estate Corp. | 40,613 | 420 | |
* | Forestar Group Inc. | 14,347 | 409 |
Marcus & Millichap Inc. | 11,704 | 390 | |
Chatham Lodging Trust | 38,943 | 381 | |
Whitestone REIT | 38,020 | 380 | |
Gladstone Commercial Corp. | 27,091 | 356 | |
CTO Realty Growth Inc. | 17,704 | 312 | |
* | FRP Holdings Inc. | 5,322 | 303 |
Office Properties Income Trust | 37,609 | 278 | |
* | Tejon Ranch Co. | 16,359 | 273 |
Orion Office REIT Inc. | 44,649 | 260 | |
One Liberty Properties Inc. | 13,172 | 259 | |
Hersha Hospitality Trust Class A | 24,462 | 240 | |
RE/MAX Holdings Inc. Class A | 13,644 | 221 | |
Community Healthcare Trust Inc. | 6,612 | 219 | |
Postal Realty Trust Inc. Class A | 14,693 | 212 | |
Alpine Income Property Trust Inc. | 10,238 | 178 | |
BRT Apartments Corp. | 9,309 | 174 | |
Douglas Elliman Inc. | 63,323 | 159 | |
City Office REIT Inc. | 30,455 | 154 | |
Braemar Hotels & Resorts Inc. | 51,241 | 139 | |
* | Star Holdings | 10,124 | 138 |
Stratus Properties Inc. | 4,395 | 121 | |
* | Compass Inc. Class A | 33,599 | 121 |
Shares | Market Value• ($000) | ||
CBL & Associates Properties Inc. | 5,600 | 120 | |
RMR Group Inc. Class A | 3,596 | 91 | |
* | Transcontinental Realty Investors Inc. | 1,482 | 51 |
Saul Centers Inc. | 741 | 28 | |
* | American Realty Investors Inc. | 1,103 | 22 |
* | Maui Land & Pineapple Co. Inc. | 677 | 9 |
Clipper Realty Inc. | 1,310 | 8 | |
104,721 | |||
Technology (5.7%) | |||
Vishay Intertechnology Inc. | 101,915 | 2,797 | |
* | Synaptics Inc. | 28,698 | 2,512 |
* | Sanmina Corp. | 43,181 | 2,405 |
Amkor Technology Inc. | 80,976 | 2,264 | |
* | Ziff Davis Inc. | 28,626 | 1,908 |
* | IonQ Inc. | 106,913 | 1,838 |
* | LiveRamp Holdings Inc. | 50,547 | 1,635 |
* | NetScout Systems Inc. | 53,988 | 1,546 |
Xerox Holdings Corp. | 90,704 | 1,441 | |
* | Cohu Inc. | 36,879 | 1,379 |
* | Bumble Inc. Class A | 80,351 | 1,348 |
* | Semtech Corp. | 50,912 | 1,331 |
* | ePlus Inc. | 19,875 | 1,319 |
* | Ultra Clean Holdings Inc. | 35,245 | 1,239 |
* | TTM Technologies Inc. | 80,737 | 1,203 |
* | Veeco Instruments Inc. | 40,290 | 1,176 |
* | Photronics Inc. | 48,391 | 1,150 |
* | Veradigm Inc. | 85,812 | 1,148 |
* | Parsons Corp. | 17,733 | 1,011 |
Methode Electronics Inc. | 27,926 | 901 | |
* | PAR Technology Corp. | 19,683 | 856 |
* | Cerence Inc. | 32,046 | 836 |
* | Ichor Holdings Ltd. | 22,710 | 832 |
* | E2open Parent Holdings Inc. | 159,830 | 772 |
* | SMART Global Holdings Inc. | 29,770 | 769 |
* | Onto Innovation Inc. | 5,513 | 766 |
* | Squarespace Inc. Class A | 24,349 | 734 |
Benchmark Electronics Inc. | 28,020 | 721 | |
* | Ambarella Inc. | 11,145 | 693 |
Kulicke & Soffa Industries Inc. | 13,014 | 673 | |
* | ScanSource Inc. | 20,008 | 656 |
* | 3D Systems Corp. | 101,912 | 643 |
* | Diodes Inc. | 7,702 | 630 |
* | Navitas Semiconductor Corp. | 67,617 | 597 |
* | Alpha & Omega Semiconductor Ltd. | 18,215 | 575 |
* | ACM Research Inc. Class A | 32,203 | 566 |
* | Matterport Inc. | 197,031 | 528 |
* | Rogers Corp. | 3,637 | 526 |
* | Digital Turbine Inc. | 56,860 | 507 |
* | Magnite Inc. | 60,333 | 498 |
* | SmartRent Inc. | 144,972 | 493 |
PC Connection Inc. | 9,125 | 485 | |
*,1 | Xometry Inc. Class A | 23,687 | 451 |
* | Kimball Electronics Inc. | 14,250 | 430 |
* | SolarWinds Corp. | 39,835 | 424 |
* | Vimeo Inc. | 104,269 | 415 |
* | nLight Inc. | 34,437 | 393 |
* | PubMatic Inc. Class A | 27,882 | 388 |
* | Fastly Inc. Class A | 15,056 | 358 |
* | PROS Holdings Inc. | 9,876 | 354 |
*,1 | C3.ai Inc. Class A | 10,885 | 338 |
* | Cleanspark Inc. | 52,332 | 258 |
* | Daktronics Inc. | 30,730 | 257 |
Shares | Market Value• ($000) | ||
Ebix Inc. | 15,305 | 256 | |
* | Plexus Corp. | 2,463 | 250 |
* | Definitive Healthcare Corp. | 23,645 | 222 |
* | Olo Inc. Class A | 34,110 | 220 |
* | Consensus Cloud Solutions Inc. | 6,745 | 215 |
* | Avid Technology Inc. | 7,906 | 211 |
* | Unisys Corp. | 52,202 | 210 |
* | Bandwidth Inc. Class A | 14,059 | 202 |
ON24 Inc. | 25,501 | 175 | |
Immersion Corp. | 24,627 | 173 | |
* | TrueCar Inc. | 68,850 | 165 |
* | Rackspace Technology Inc. | 62,338 | 156 |
* | Asure Software Inc. | 12,227 | 153 |
* | CommVault Systems Inc. | 2,142 | 146 |
* | Brightcove Inc. | 33,894 | 131 |
* | Verint Systems Inc. | 4,004 | 130 |
Richardson Electronics Ltd. | 9,411 | 118 | |
* | MeridianLink Inc. | 6,646 | 118 |
*,1 | Bit Digital Inc. | 47,726 | 112 |
* | Tucows Inc. Class A | 4,683 | 111 |
Adeia Inc. | 10,665 | 107 | |
* | Nextdoor Holdings Inc. | 46,089 | 100 |
* | Vivid Seats Inc. Class A | 13,737 | 100 |
* | Grid Dynamics Holdings Inc. | 8,464 | 98 |
*,1 | Cipher Mining Inc. | 30,506 | 97 |
* | FiscalNote Holdings Inc. | 39,031 | 86 |
* | Terawulf Inc. | 39,950 | 84 |
* | N-Able Inc. | 5,473 | 73 |
* | Intevac Inc. | 20,086 | 70 |
American Software Inc. Class A | 5,226 | 60 | |
* | Eventbrite Inc. Class A | 5,774 | 59 |
* | Aeva Technologies Inc. | 61,968 | 58 |
* | CEVA Inc. | 2,250 | 52 |
* | Planet Labs PBC | 14,874 | 48 |
* | indie Semiconductor Inc. Class A | 7,044 | 47 |
* | EverCommerce Inc. | 3,904 | 41 |
NVE Corp. | 436 | 39 | |
Hackett Group Inc. | 1,568 | 37 | |
* | System1 Inc. | 19,465 | 35 |
* | Atomera Inc. | 4,778 | 30 |
* | OneSpan Inc. | 2,229 | 27 |
* | Mediaalpha Inc. Class A | 2,948 | 25 |
* | Mitek Systems Inc. | 1,604 | 18 |
* | NextNav Inc. | 3,523 | 15 |
* | EverQuote Inc. Class A | 1,433 | 9 |
54,862 | |||
Telecommunications (1.2%) | |||
Telephone and Data Systems Inc. | 78,417 | 1,685 | |
* | Lumen Technologies Inc. | 798,699 | 1,270 |
* | Liberty Latin America Ltd. Class C | 115,309 | 1,033 |
Cogent Communications Holdings Inc. | 12,693 | 896 | |
Shenandoah Telecommunications Co. | 38,439 | 874 | |
* | Gogo Inc. | 47,936 | 544 |
Adtran Holdings Inc. | 61,370 | 525 | |
* | EchoStar Corp. Class A | 26,762 | 465 |
Bel Fuse Inc. Class B | 7,607 | 398 | |
* | Xperi Inc. | 32,980 | 389 |
*,1 | fuboTV Inc. | 159,029 | 372 |
* | WideOpenWest Inc. | 40,313 | 327 |
* | Viavi Solutions Inc. | 30,837 | 322 |
Shares | Market Value• ($000) | ||
ATN International Inc. | 8,603 | 309 | |
* | Aviat Networks Inc. | 8,654 | 305 |
* | NETGEAR Inc. | 22,339 | 294 |
* | Liberty Latin America Ltd. Class A | 28,236 | 253 |
Comtech Telecommunications Corp. | 21,334 | 214 | |
* | Ribbon Communications Inc. | 71,267 | 211 |
* | Consolidated Communications Holdings Inc. | 51,460 | 203 |
Spok Holdings Inc. | 13,988 | 199 | |
* | Digi International Inc. | 2,979 | 100 |
* | Globalstar Inc. | 67,867 | 98 |
* | KVH Industries Inc. | 14,786 | 78 |
* | IDT Corp. Class B | 2,833 | 66 |
* | Anterix Inc. | 1,261 | 42 |
* | DZS Inc. | 17,143 | 40 |
11,512 | |||
Utilities (4.1%) | |||
Portland General Electric Co. | 76,819 | 3,369 | |
ONE Gas Inc. | 43,724 | 3,169 | |
Southwest Gas Holdings Inc. | 48,804 | 3,022 | |
Black Hills Corp. | 52,738 | 2,901 | |
1 | Brookfield Infrastructure Corp. Class A (XTSE) | 70,299 | 2,731 |
PNM Resources Inc. | 60,471 | 2,680 | |
ALLETE Inc. | 45,799 | 2,514 | |
NorthWestern Corp. | 47,241 | 2,381 | |
Spire Inc. | 40,666 | 2,375 | |
Avista Corp. | 59,709 | 1,988 | |
SJW Group | 24,520 | 1,613 | |
New Jersey Resources Corp. | 36,661 | 1,546 | |
California Water Service Group | 30,194 | 1,517 | |
Ormat Technologies Inc. (XNYS) | 15,083 | 1,145 | |
Northwest Natural Holding Co. | 28,545 | 1,121 | |
MGE Energy Inc. | 14,187 | 1,028 | |
*,1 | Sunnova Energy International Inc. | 41,607 | 579 |
Chesapeake Utilities Corp. | 4,944 | 544 | |
*,1 | Li-Cycle Holdings Corp. | 108,058 | 480 |
* | Enviri Corp. | 63,323 | 472 |
* | Heritage-Crystal Clean Inc. | 10,474 | 472 |
Unitil Corp. | 9,062 | 442 | |
*,1 | Altus Power Inc. | 49,924 | 323 |
Consolidated Water Co. Ltd. | 8,423 | 224 | |
Aris Water Solution Inc. Class A | 21,907 | 224 | |
Genie Energy Ltd. Class B | 7,361 | 113 | |
RGC Resources Inc. | 5,975 | 108 | |
Artesian Resources Corp. Class A | 1,767 | 82 | |
Excelerate Energy Inc. Class A | 3,028 | 56 | |
39,219 | |||
Total Common Stocks (Cost $1,044,601) | 964,108 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (1.6%) | |||
Money Market Fund (1.6%) | |||
5,6 | Vanguard Market Liquidity Fund, 5.384% (Cost $15,507) | 155,122 | 15,510 |
Total Investments (101.5%) (Cost $1,060,108) | 979,618 | ||
Other Assets and Liabilities—Net (-1.5%) | (14,552) | ||
Net Assets (100%) | 965,066 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $12,821,000. |
2 | Restricted securities totaling $129,000, representing 0.0% of net assets. |
3 | Security value determined using significant unobservable inputs. |
4 | “Other” represents securities that are not classified by the fund’s benchmark index. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
6 | Collateral of $14,435,000 was received for securities on loan. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2023 | 10 | 951 | (10) |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $1,044,601) | 964,108 |
Affiliated Issuers (Cost $15,507) | 15,510 |
Total Investments in Securities | 979,618 |
Investment in Vanguard | 33 |
Cash Collateral Pledged—Futures Contracts | 140 |
Receivables for Investment Securities Sold | 1,107 |
Receivables for Accrued Income | 1,386 |
Receivables for Capital Shares Issued | 1 |
Total Assets | 982,285 |
Liabilities | |
Due to Custodian | 998 |
Payables for Investment Securities Purchased | 1,715 |
Collateral for Securities on Loan | 14,435 |
Payables for Capital Shares Redeemed | 10 |
Payables to Vanguard | 56 |
Variation Margin Payable—Futures Contracts | 5 |
Total Liabilities | 17,219 |
Net Assets | 965,066 |
1 Includes $12,821,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 1,309,145 |
Total Distributable Earnings (Loss) | (344,079) |
Net Assets | 965,066 |
ETF Shares—Net Assets | |
Applicable to 6,225,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 788,457 |
Net Asset Value Per Share—ETF Shares | $126.66 |
Institutional Shares—Net Assets | |
Applicable to 706,921 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 176,609 |
Net Asset Value Per Share—Institutional Shares | $249.83 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 22,648 |
Interest2 | 47 |
Securities Lending—Net | 1,261 |
Total Income | 23,956 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 23 |
Management and Administrative—ETF Shares | 971 |
Management and Administrative—Institutional Shares | 105 |
Marketing and Distribution—ETF Shares | 46 |
Marketing and Distribution—Institutional Shares | 7 |
Custodian Fees | 91 |
Auditing Fees | 28 |
Shareholders’ Reports—ETF Shares | 62 |
Shareholders’ Reports—Institutional Shares | 1 |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 24 |
Total Expenses | 1,359 |
Expenses Paid Indirectly | (1) |
Net Expenses | 1,358 |
Net Investment Income | 22,598 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | (46,083) |
Futures Contracts | (92) |
Realized Net Gain (Loss) | (46,175) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 38,659 |
Futures Contracts | 45 |
Change in Unrealized Appreciation (Depreciation) | 38,704 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 15,127 |
1 | Dividends are net of foreign withholding taxes of $21,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $43,000, $2,000, less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $47,457,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 22,598 | 20,250 |
Realized Net Gain (Loss) | (46,175) | 123,769 |
Change in Unrealized Appreciation (Depreciation) | 38,704 | (276,196) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 15,127 | (132,177) |
Distributions | ||
ETF Shares | (18,223) | (17,288) |
Institutional Shares | (4,018) | (3,679) |
Total Distributions | (22,241) | (20,967) |
Capital Share Transactions | ||
ETF Shares | (41,552) | (71,282) |
Institutional Shares | (7,012) | 7,217 |
Net Increase (Decrease) from Capital Share Transactions | (48,564) | (64,065) |
Total Increase (Decrease) | (55,678) | (217,209) |
Net Assets | ||
Beginning of Period | 1,020,744 | 1,237,953 |
End of Period | 965,066 | 1,020,744 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $126.77 | $143.88 | $91.76 | $99.51 | $119.05 |
Investment Operations | |||||
Net Investment Income1 | 2.816 | 2.353 | 1.998 | 1.868 | 1.912 |
Net Realized and Unrealized Gain (Loss) on Investments | (.234) | (16.986) | 51.982 | (7.771) | (19.589) |
Total from Investment Operations | 2.582 | (14.633) | 53.980 | (5.903) | (17.677) |
Distributions | |||||
Dividends from Net Investment Income | (2.692) | (2.477) | (1.860) | (1.847) | (1.863) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (2.692) | (2.477) | (1.860) | (1.847) | (1.863) |
Net Asset Value, End of Period | $126.66 | $126.77 | $143.88 | $91.76 | $99.51 |
Total Return | 2.19% | -10.28% | 59.34% | -6.05% | -14.93% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $788 | $837 | $1,036 | $303 | $251 |
Ratio of Total Expenses to Average Net Assets | 0.15%2 | 0.15% | 0.15% | 0.15% | 0.15% |
Ratio of Net Investment Income to Average Net Assets | 2.27% | 1.71% | 1.52% | 1.99% | 1.83% |
Portfolio Turnover Rate3 | 27% | 28% | 45% | 38% | 27% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.15%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $250.04 | $283.82 | $180.98 | $196.24 | $234.81 |
Investment Operations | |||||
Net Investment Income1 | 5.717 | 4.918 | 4.212 | 3.783 | 3.966 |
Net Realized and Unrealized Gain (Loss) on Investments | (.456) | (33.609) | 102.428 | (15.303) | (38.670) |
Total from Investment Operations | 5.261 | (28.691) | 106.640 | (11.520) | (34.704) |
Distributions | |||||
Dividends from Net Investment Income | (5.471) | (5.089) | (3.800) | (3.740) | (3.866) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (5.471) | (5.089) | (3.800) | (3.740) | (3.866) |
Net Asset Value, End of Period | $249.83 | $250.04 | $283.82 | $180.98 | $196.24 |
Total Return | 2.26% | -10.23% | 59.46% | -5.97% | -14.88% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $177 | $184 | $202 | $88 | $140 |
Ratio of Total Expenses to Average Net Assets | 0.08%2 | 0.08% | 0.08% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 2.34% | 1.82% | 1.67% | 2.04% | 1.90% |
Portfolio Turnover Rate3 | 27% | 28% | 45% | 38% | 27% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended August 31, 2023, custodian fee offset arrangements reduced the fund’s expenses by $1,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 963,978 | 129 | 1 | 964,108 |
Temporary Cash Investments | 15,510 | — | — | 15,510 |
Total | 979,488 | 129 | 1 | 979,618 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 10 | — | — | 10 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions and passive foreign investment companies were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 47,449 |
Total Distributable Earnings (Loss) | (47,449) |
Amount ($000) | |
Undistributed Ordinary Income | 5,014 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (84,478) |
Capital Loss Carryforwards | (264,615) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (344,079) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 22,241 | 20,967 |
Long-Term Capital Gains | — | — |
Total | 22,241 | 20,967 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 1,064,096 |
Gross Unrealized Appreciation | 102,538 |
Gross Unrealized Depreciation | (187,016) |
Net Unrealized Appreciation (Depreciation) | (84,478) |
F. | During the year ended August 31, 2023, the fund purchased $484,130,000 of investment securities and sold $528,275,000 of investment securities, other than temporary cash investments. Purchases and sales include $187,232,000 and $263,708,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital share transactions for each class of shares were: |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 223,537 | 1,825 | 678,843 | 4,950 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (265,089) | (2,200) | (750,125) | (5,550) | |
Net Increase (Decrease)—ETF Shares | (41,552) | (375) | (71,282) | (600) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 25,641 | 108 | 14,097 | 50 | |
Issued in Lieu of Cash Distributions | 4,016 | 17 | 3,678 | 14 | |
Redeemed | (36,669) | (154) | (10,558) | (40) | |
Net Increase (Decrease)—Institutional Shares | (7,012) | (29) | 7,217 | 24 |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no material events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Russell 2000 Growth Index Fund ETF Shares Net Asset Value | 6.87% | 2.50% | 8.20% | $22,002 | |
Russell 2000 Growth Index Fund ETF Shares Market Price | 6.88 | 2.51 | 8.21 | 22,006 | |
Russell 2000 Growth Index | 6.78 | 2.46 | 8.17 | 21,936 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Russell 2000 Growth Index Fund Institutional Shares | 6.94% | 2.58% | 8.31% | $11,105,989 | |
Russell 2000 Growth Index | 6.78 | 2.46 | 8.17 | 10,967,992 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 15,730,560 |
One Year | Five Years | Ten Years | |
Russell 2000 Growth Index Fund ETF Shares Market Price | 6.88% | 13.17% | 120.06% |
Russell 2000 Growth Index Fund ETF Shares Net Asset Value | 6.87 | 13.16 | 120.02 |
Russell 2000 Growth Index | 6.78 | 12.94 | 119.36 |
Basic Materials | 3.4% |
Consumer Discretionary | 13.0 |
Consumer Staples | 3.5 |
Energy | 6.3 |
Financials | 5.2 |
Health Care | 21.3 |
Industrials | 22.4 |
Real Estate | 1.6 |
Technology | 19.7 |
Telecommunications | 1.8 |
Utilities | 1.8 |
Other | 0.0 |
Shares | Market Value• ($000) | ||
Common Stocks (100.1%) | |||
Basic Materials (3.4%) | |||
Balchem Corp. | 27,880 | 3,917 | |
Cabot Corp. | 48,307 | 3,500 | |
* | Livent Corp. | 157,409 | 3,380 |
Sensient Technologies Corp. | 36,721 | 2,262 | |
Quaker Chemical Corp. | 12,116 | 2,150 | |
Innospec Inc. | 19,157 | 2,058 | |
Materion Corp. | 17,879 | 1,945 | |
* | Ingevity Corp. | 32,553 | 1,754 |
Mueller Industries Inc. | 21,186 | 1,635 | |
Sylvamo Corp. | 31,726 | 1,325 | |
* | Constellium SE | 68,189 | 1,228 |
Orion SA | 48,874 | 1,106 | |
Hawkins Inc. | 16,861 | 1,049 | |
Kaiser Aluminum Corp. | 13,178 | 1,001 | |
Compass Minerals International Inc. | 29,855 | 900 | |
* | Novagold Resources Inc. | 210,719 | 868 |
*,1 | Energy Fuels Inc. | 117,995 | 841 |
UFP Industries Inc. | 8,012 | 836 | |
*,1 | Ivanhoe Electric Inc. | 48,585 | 759 |
Hecla Mining Co. | 109,903 | 483 | |
* | Century Aluminum Co. | 46,202 | 344 |
GrafTech International Ltd. | 94,717 | 335 | |
Omega Flex Inc. | 2,858 | 239 | |
* | Piedmont Lithium Inc. | 5,286 | 237 |
Stepan Co. | 2,186 | 191 | |
* | Ecovyst Inc. | 18,006 | 184 |
*,1 | LanzaTech Global Inc. | 17,620 | 117 |
* | Perpetua Resources Corp. | 32,470 | 108 |
* | Dakota Gold Corp. | 30,926 | 89 |
*,1 | 5e Advanced Materials Inc. | 29,409 | 75 |
American Vanguard Corp. | 3,985 | 55 | |
Ryerson Holding Corp. | 1,292 | 40 | |
* | Contango ORE Inc. | 1,543 | 28 |
* | i-80 Gold Corp. | 10,677 | 21 |
* | NioCorp Developments Ltd. | 1,912 | 7 |
35,067 | |||
Consumer Discretionary (13.0%) | |||
* | elf Beauty Inc. | 43,768 | 6,071 |
* | Fox Factory Holding Corp. | 37,198 | 4,122 |
* | Duolingo Inc. | 25,019 | 3,682 |
Academy Sports & Outdoors Inc. | 65,109 | 3,553 | |
* | Visteon Corp. | 24,529 | 3,416 |
* | Hilton Grand Vacations Inc. | 70,951 | 3,102 |
Shares | Market Value• ($000) | ||
International Game Technology plc | 94,630 | 3,030 | |
* | Light & Wonder Inc. | 37,335 | 2,862 |
* | Boot Barn Holdings Inc. | 25,947 | 2,381 |
* | Frontdoor Inc. | 71,743 | 2,355 |
* | Shake Shack Inc. Class A | 32,932 | 2,305 |
Steven Madden Ltd. | 65,632 | 2,264 | |
Inter Parfums Inc. | 16,010 | 2,237 | |
Kontoor Brands Inc. | 48,518 | 2,222 | |
Bloomin' Brands Inc. | 76,429 | 2,145 | |
* | Cavco Industries Inc. | 7,631 | 2,133 |
* | Coursera Inc. | 113,580 | 1,975 |
* | Dorman Products Inc. | 22,984 | 1,896 |
* | ACV Auctions Inc. Class A | 110,884 | 1,864 |
* | Skyline Champion Corp. | 26,143 | 1,863 |
* | Carvana Co. | 36,845 | 1,855 |
Papa John's International Inc. | 23,736 | 1,797 | |
* | Gentherm Inc. | 28,899 | 1,740 |
* | XPEL Inc. | 19,683 | 1,640 |
* | SeaWorld Entertainment Inc. | 32,931 | 1,604 |
Acushnet Holdings Corp. | 27,189 | 1,592 | |
Cracker Barrel Old Country Store Inc. | 19,208 | 1,583 | |
* | Stride Inc. | 36,944 | 1,570 |
* | Sonos Inc. | 110,600 | 1,524 |
* | Dave & Buster's Entertainment Inc. | 37,755 | 1,483 |
Jack in the Box Inc. | 18,085 | 1,454 | |
Upbound Group Inc. | 45,023 | 1,379 | |
* | Atlanta Braves Holdings Inc. Class C | 37,374 | 1,377 |
*,1 | Luminar Technologies Inc. | 237,056 | 1,365 |
Cheesecake Factory Inc. | 42,252 | 1,346 | |
Laureate Education Inc. | 96,339 | 1,342 | |
* | Cinemark Holdings Inc. | 79,778 | 1,299 |
PriceSmart Inc. | 15,865 | 1,261 | |
* | Abercrombie & Fitch Co. Class A | 22,032 | 1,184 |
* | Brinker International Inc. | 35,125 | 1,150 |
* | Six Flags Entertainment Corp. | 49,915 | 1,146 |
Dillard's Inc. Class A | 3,155 | 1,089 | |
* | Cars.com Inc. | 57,980 | 1,084 |
* | PowerSchool Holdings Inc. Class A | 48,831 | 1,080 |
Hanesbrands Inc. | 204,947 | 1,076 | |
* | Madison Square Garden Entertainment Corp. | 32,171 | 1,032 |
Shares | Market Value• ($000) | ||
LCI Industries | 8,120 | 1,017 | |
*,1 | Fisker Inc. | 170,882 | 1,003 |
Oxford Industries Inc. | 9,862 | 996 | |
Red Rock Resorts Inc. Class A | 22,349 | 982 | |
Buckle Inc. | 26,616 | 973 | |
* | Sweetgreen Inc. Class A | 67,760 | 973 |
* | Chegg Inc. | 88,915 | 908 |
Camping World Holdings Inc. Class A | 36,421 | 901 | |
* | Sally Beauty Holdings Inc. | 88,088 | 895 |
* | iRobot Corp. | 21,627 | 841 |
Monarch Casino & Resort Inc. | 11,734 | 791 | |
* | Udemy Inc. | 74,750 | 774 |
* | Imax Corp. | 39,154 | 749 |
Sturm Ruger & Co. Inc. | 14,099 | 727 | |
* | OneSpaWorld Holdings Ltd. | 63,554 | 727 |
* | Portillo's Inc. Class A | 37,009 | 679 |
Dine Brands Global Inc. | 12,255 | 671 | |
* | Everi Holdings Inc. | 46,108 | 667 |
* | Arlo Technologies Inc. | 66,624 | 651 |
Golden Entertainment Inc. | 17,634 | 642 | |
* | Urban Outfitters Inc. | 18,683 | 620 |
American Eagle Outfitters Inc. | 35,826 | 608 | |
* | Figs Inc. Class A | 98,324 | 608 |
* | Accel Entertainment Inc. | 46,971 | 558 |
* | Rover Group Inc. | 81,010 | 548 |
Arko Corp. | 71,781 | 541 | |
* | Malibu Boats Inc. Class A | 10,940 | 531 |
* | Revolve Group Inc. | 35,760 | 524 |
* | Corsair Gaming Inc. | 32,219 | 506 |
* | Lions Gate Entertainment Corp. Class B | 67,699 | 504 |
* | Viad Corp. | 17,763 | 504 |
Wolverine World Wide Inc. | 61,205 | 495 | |
* | Chuy's Holdings Inc. | 12,964 | 494 |
RCI Hospitality Holdings Inc. | 7,457 | 487 | |
* | European Wax Center Inc. Class A | 27,945 | 485 |
* | Integral Ad Science Holding Corp. | 32,926 | 470 |
* | QuinStreet Inc. | 45,279 | 448 |
*,1 | Super Group SGHC Ltd. | 118,328 | 447 |
* | Kura Sushi USA Inc. Class A | 5,100 | 446 |
* | Instructure Holdings Inc. | 16,883 | 437 |
Hibbett Inc. | 9,131 | 423 | |
* | Xponential Fitness Inc. Class A | 18,382 | 398 |
* | Atlanta Braves Holdings Inc. Class A | 9,494 | 397 |
1 | Cricut Inc. Class A | 41,410 | 392 |
* | Green Brick Partners Inc. | 7,545 | 373 |
* | BJ's Restaurants Inc. | 12,393 | 364 |
Carriage Services Inc. | 11,629 | 358 | |
* | Sabre Corp. | 71,398 | 357 |
* | Denny's Corp. | 36,873 | 351 |
* | Vizio Holding Corp. Class A | 58,495 | 336 |
* | MasterCraft Boat Holdings Inc. | 15,181 | 330 |
Krispy Kreme Inc. | 24,315 | 326 | |
Global Industrial Co. | 8,927 | 302 | |
Matthews International Corp. Class A | 6,863 | 289 | |
* | Lions Gate Entertainment Corp. Class A | 35,395 | 280 |
Shares | Market Value• ($000) | ||
* | Lovesac Co. | 12,233 | 280 |
* | Sun Country Airlines Holdings Inc. | 18,206 | 271 |
Bluegreen Vacations Holding Corp. | 7,519 | 270 | |
* | PROG Holdings Inc. | 7,755 | 266 |
* | Sleep Number Corp. | 9,901 | ��� 253 |
* | Inspired Entertainment Inc. | 18,934 | 250 |
* | Rush Street Interactive Inc. | 54,318 | 250 |
*,1 | Dream Finders Homes Inc. Class A | 8,599 | 248 |
* | Nerdy Inc. | 51,889 | 243 |
Build-A-Bear Workshop Inc. | 9,157 | 241 | |
* | Bowlero Corp. | 21,929 | 241 |
Alta Equipment Group Inc. | 16,615 | 236 | |
* | Bally's Corp. | 14,115 | 234 |
* | CarParts.com Inc. | 46,315 | 224 |
* | Liquidity Services Inc. | 12,200 | 223 |
* | PlayAGS Inc. | 32,283 | 221 |
*,1 | Mondee Holdings Inc. | 34,106 | 221 |
* | Frontier Group Holdings Inc. | 33,329 | 209 |
* | Life Time Group Holdings Inc. | 12,130 | 209 |
Entravision Communications Corp. Class A | 52,709 | 202 | |
* | EW Scripps Co. Class A | 24,556 | 188 |
* | Potbelly Corp. | 22,918 | 183 |
* | LGI Homes Inc. | 1,395 | 172 |
Nathan's Famous Inc. | 2,246 | 163 | |
*,1 | Stitch Fix Inc. Class A | 35,252 | 155 |
* | Funko Inc. Class A | 20,523 | 143 |
* | Red Robin Gourmet Burgers Inc. | 13,672 | 142 |
* | Century Casinos Inc. | 20,623 | 134 |
* | ONE Group Hospitality Inc. | 19,476 | 133 |
* | Gambling.com Group Ltd. | 9,125 | 129 |
Climb Global Solutions Inc. | 2,948 | 127 | |
HNI Corp. | 3,747 | 123 | |
Allegiant Travel Co. | 1,378 | 122 | |
* | Full House Resorts Inc. | 25,304 | 122 |
* | First Watch Restaurant Group Inc. | 5,526 | 106 |
*,1 | Livewire Group Inc. | 9,423 | 105 |
Marine Products Corp. | 7,367 | 103 | |
Townsquare Media Inc. Class A | 9,988 | 96 | |
* | Noodles & Co. | 34,287 | 95 |
* | Stoneridge Inc. | 4,287 | 88 |
* | National Vision Holdings Inc. | 4,678 | 86 |
*,1 | Blink Charging Co. | 21,218 | 84 |
* | Leslie's Inc. | 13,060 | 82 |
* | Solo Brands Inc. Class A | 13,973 | 78 |
Guess? Inc. | 2,813 | 68 | |
* | Cooper-Standard Holdings Inc. | 4,504 | 67 |
* | Daily Journal Corp. | 212 | 63 |
Sinclair Inc. | 4,814 | 61 | |
* | ThredUP Inc. Class A | 11,323 | 45 |
* | Universal Technical Institute Inc. | 4,988 | 40 |
Gray Television Inc. | 4,676 | 38 | |
* | Envela Corp. | 6,497 | 33 |
* | Loop Media Inc. | 31,161 | 27 |
* | Lindblad Expeditions Holdings Inc. | 2,748 | 25 |
Shares | Market Value• ($000) | ||
* | Boston Omaha Corp. Class A | 1,324 | 23 |
*,1 | Torrid Holdings Inc. | 9,985 | 23 |
* | SES AI Corp. | 9,696 | 20 |
* | Savers Value Village Inc. | 763 | 19 |
* | Cava Group Inc. | 346 | 15 |
Clarus Corp. | 1,934 | 14 | |
* | 2U Inc. | 3,635 | 12 |
Rocky Brands Inc. | 497 | 9 | |
* | Qurate Retail Inc. Class B | 1,495 | 9 |
* | Liberty TripAdvisor Holdings Inc. Class B | 225 | 7 |
Escalade Inc. | 304 | 5 | |
* | Duluth Holdings Inc. Class B | 705 | 4 |
* | Rent the Runway Inc. Class A | 2,924 | 4 |
132,016 | |||
Consumer Staples (3.5%) | |||
* | Sprouts Farmers Market Inc. | 90,309 | 3,684 |
Coca-Cola Consolidated Inc. | 4,163 | 2,910 | |
* | Simply Good Foods Co. | 79,171 | 2,857 |
Lancaster Colony Corp. | 17,034 | 2,814 | |
WD-40 Co. | 11,841 | 2,544 | |
Energizer Holdings Inc. | 62,533 | 2,148 | |
J & J Snack Foods Corp. | 13,113 | 2,126 | |
MGP Ingredients Inc. | 13,806 | 1,655 | |
Cal-Maine Foods Inc. | 31,168 | 1,490 | |
* | BellRing Brands Inc. | 31,182 | 1,294 |
* | National Beverage Corp. | 20,658 | 1,060 |
Utz Brands Inc. | 62,726 | 968 | |
* | Herbalife Ltd. | 63,137 | 948 |
* | Chefs' Warehouse Inc. | 30,674 | 875 |
Medifast Inc. | 9,353 | 789 | |
John B Sanfilippo & Son Inc. | 7,810 | 784 | |
* | Sovos Brands Inc. | 34,585 | 775 |
* | Vita Coco Co. Inc. | 24,902 | 704 |
* | USANA Health Sciences Inc. | 9,904 | 637 |
* | Hostess Brands Inc. | 21,593 | 615 |
*,1 | Beyond Meat Inc. | 51,642 | 609 |
Calavo Growers Inc. | 15,082 | 497 | |
* | Beauty Health Co. | 71,347 | 440 |
Dole plc | 35,483 | 423 | |
Turning Point Brands Inc. | 14,843 | 365 | |
* | SunOpta Inc. | 75,387 | 331 |
* | Vital Farms Inc. | 26,599 | 313 |
Primo Water Corp. | 18,946 | 289 | |
* | TreeHouse Foods Inc. | 5,437 | 253 |
* | Westrock Coffee Co. | 24,743 | 248 |
Vector Group Ltd. | 21,978 | 235 | |
* | Brookfield Realty Capital Corp. Class A | 29,385 | 133 |
* | Duckhorn Portfolio Inc. | 7,277 | 91 |
Oil-Dri Corp. of America | 1,092 | 74 | |
* | Mission Produce Inc. | 5,851 | 56 |
* | Zevia PBC Class A | 12,216 | 31 |
36,065 | |||
Energy (6.3%) | |||
ChampionX Corp. | 173,451 | 6,260 | |
* | Weatherford International plc | 62,052 | 5,493 |
Noble Corp. plc | 77,811 | 4,104 | |
* | Valaris Ltd. | 53,529 | 4,032 |
* | Denbury Inc. | 43,833 | 4,014 |
Shares | Market Value• ($000) | ||
Magnolia Oil & Gas Corp. Class A | 149,636 | 3,412 | |
* | Array Technologies Inc. | 132,068 | 3,285 |
Cactus Inc. Class A | 56,389 | 3,008 | |
* | Shoals Technologies Group Inc. Class A | 149,534 | 2,943 |
* | Kosmos Energy Ltd. | 398,052 | 2,898 |
* | Tidewater Inc. | 41,429 | 2,694 |
Northern Oil and Gas Inc. | 57,726 | 2,415 | |
* | Oceaneering International Inc. | 87,682 | 1,998 |
* | NEXTracker Inc. Class A | 37,886 | 1,596 |
* | Borr Drilling Ltd. | 199,284 | 1,393 |
* | Ameresco Inc. Class A | 28,012 | 1,218 |
Matador Resources Co. | 17,475 | 1,110 | |
Equitrans Midstream Corp. | 110,388 | 1,060 | |
* | Fluence Energy Inc. | 34,276 | 903 |
* | Nabors Industries Ltd. (XNYS) | 7,202 | 797 |
Sitio Royalties Corp. Class A | 31,005 | 787 | |
CVR Energy Inc. | 23,581 | 771 | |
* | Expro Group Holdings NV | 28,818 | 677 |
* | Par Pacific Holdings Inc. | 18,484 | 635 |
* | TETRA Technologies Inc. | 109,301 | 600 |
* | Montauk Renewables Inc. | 58,104 | 555 |
*,1 | SunPower Corp. | 76,092 | 545 |
Permian Resources Corp. | 34,954 | 496 | |
* | W&T Offshore Inc. | 85,332 | 348 |
Core Laboratories Inc. | 13,077 | 314 | |
Archrock Inc. | 21,689 | 277 | |
* | Green Plains Inc. | 8,865 | 275 |
Riley Exploration Permian Inc. | 7,710 | 258 | |
* | NexTier Oilfield Solutions Inc. | 23,582 | 250 |
Enviva Inc. | 27,181 | 250 | |
*,1 | Maxeon Solar Technologies Ltd. | 14,844 | 234 |
Evolution Petroleum Corp. | 27,492 | 233 | |
* | MRC Global Inc. | 24,948 | 232 |
* | TPI Composites Inc. | 36,988 | 187 |
Crescent Energy Co. Class A | 13,181 | 180 | |
*,1 | NextDecade Corp. | 27,035 | 164 |
Alpha Metallurgical Resources Inc. | 790 | 160 | |
Liberty Energy Inc. | 9,089 | 145 | |
* | REX American Resources Corp. | 3,385 | 134 |
Golar LNG Ltd. | 5,749 | 127 | |
* | DMC Global Inc. | 5,172 | 124 |
1 | HighPeak Energy Inc. | 7,625 | 112 |
* | FTC Solar Inc. | 54,693 | 103 |
* | Empire Petroleum Corp. | 8,830 | 77 |
* | SilverBow Resources Inc. | 1,604 | 69 |
Kinetik Holdings Inc. | 1,592 | 56 | |
* | ProFrac Holding Corp. Class A | 4,764 | 52 |
Atlas Energy Solutions Inc. Class A | 2,397 | 51 | |
VAALCO Energy Inc. | 10,124 | 42 | |
* | EVgo Inc. | 8,581 | 34 |
* | Tellurian Inc. | 26,399 | 30 |
* | Kodiak Gas Services Inc. | 1,320 | 24 |
Solaris Oilfield Infrastructure Inc. Class A | 2,059 | 22 |
Shares | Market Value• ($000) | ||
* | KLX Energy Services Holdings Inc. | 1,149 | 12 |
64,275 | |||
Financials (5.2%) | |||
Selective Insurance Group Inc. | 52,483 | 5,207 | |
First Financial Bankshares Inc. | 113,933 | 3,272 | |
FirstCash Holdings Inc. | 32,849 | 2,934 | |
*,2 | Focus Financial Partners Inc. Class A | 51,043 | 2,705 |
*,1 | Upstart Holdings Inc. | 62,862 | 2,022 |
Piper Sandler Cos. | 12,507 | 1,863 | |
*,1 | Marathon Digital Holdings Inc. | 146,845 | 1,846 |
Hamilton Lane Inc. Class A | 18,855 | 1,750 | |
* | Bancorp Inc. | 46,706 | 1,715 |
PJT Partners Inc. Class A | 21,180 | 1,673 | |
Moelis & Co. Class A | 34,197 | 1,621 | |
Artisan Partners Asset Management Inc. Class A | 38,688 | 1,486 | |
Cohen & Steers Inc. | 22,645 | 1,476 | |
StepStone Group Inc. Class A | 46,975 | 1,450 | |
* | BRP Group Inc. Class A | 51,477 | 1,369 |
* | Goosehead Insurance Inc. Class A | 18,765 | 1,311 |
*,1 | Riot Platforms Inc. | 97,158 | 1,103 |
* | Palomar Holdings Inc. | 21,246 | 1,084 |
*,1 | Trupanion Inc. | 34,484 | 1,025 |
Stock Yards Bancorp Inc. | 20,707 | 948 | |
WisdomTree Inc. | 120,169 | 877 | |
ServisFirst Bancshares Inc. | 15,004 | 841 | |
B Riley Financial Inc. | 16,283 | 834 | |
Victory Capital Holdings Inc. Class A | 21,689 | 747 | |
Patria Investments Ltd. Class A | 47,352 | 683 | |
* | Open Lending Corp. Class A | 79,839 | 659 |
BGC Group Inc. Class A | 130,604 | 645 | |
* | Avantax Inc. | 30,426 | 636 |
* | Assetmark Financial Holdings Inc. | 19,181 | 554 |
P10 Inc. Class A | 37,639 | 454 | |
AMERISAFE Inc. | 8,508 | 441 | |
Diamond Hill Investment Group Inc. | 2,543 | 429 | |
* | Coastal Financial Corp. | 9,421 | 415 |
Brookfield Business Corp. Class A | 22,527 | 398 | |
Pathward Financial Inc. | 8,003 | 394 | |
Perella Weinberg Partners | 36,907 | 389 | |
Westamerica BanCorp | 6,916 | 304 | |
HCI Group Inc. | 5,586 | 298 | |
* | Axos Financial Inc. | 5,963 | 257 |
BancFirst Corp. | 2,655 | 254 | |
Esquire Financial Holdings Inc. | 5,303 | 248 | |
GCM Grosvenor Inc. Class A | 32,235 | 246 | |
Brightsphere Investment Group Inc. | 11,069 | 229 | |
Federal Agricultural Mortgage Corp. Class C | 1,315 | 221 | |
First BanCorp (XNYS) | 13,530 | 188 | |
* | Columbia Financial Inc. | 10,610 | 182 |
* | NMI Holdings Inc. Class A | 5,790 | 166 |
Shares | Market Value• ($000) | ||
Virtus Investment Partners Inc. | 787 | 163 | |
Silvercrest Asset Management Group Inc. Class A | 8,390 | 162 | |
* | StoneX Group Inc. | 1,718 | 161 |
Sculptor Capital Management Inc. | 12,351 | 144 | |
Crawford & Co. Class A | 12,398 | 133 | |
*,1 | AlTi Global Inc. | 17,981 | 131 |
Capital City Bank Group Inc. | 3,909 | 119 | |
NBT Bancorp Inc. | 3,433 | 118 | |
Tiptree Inc. | 5,881 | 104 | |
Five Star Bancorp | 4,649 | 102 | |
* | Lemonade Inc. | 7,309 | 101 |
City Holding Co. | 1,099 | 100 | |
PennyMac Financial Services Inc. | 1,372 | 98 | |
Bank of NT Butterfield & Son Ltd. | 3,112 | 91 | |
Greene County Bancorp Inc. | 3,126 | 90 | |
* | SiriusPoint Ltd. | 7,862 | 87 |
* | Kingsway Financial Services Inc. | 9,081 | 80 |
Lakeland Financial Corp. | 1,383 | 72 | |
HomeTrust Bancshares Inc. | 2,952 | 67 | |
* | Oscar Health Inc. Class A | 10,276 | 64 |
Universal Insurance Holdings Inc. | 4,824 | 61 | |
* | Skyward Specialty Insurance Group Inc. | 2,492 | 61 |
* | eHealth Inc. | 7,350 | 57 |
Stellar Bancorp Inc. | 2,132 | 45 | |
* | LendingTree Inc. | 2,162 | 41 |
Citizens Financial Services Inc. | 703 | 38 | |
Value Line Inc. | 699 | 37 | |
FS Bancorp Inc. | 1,108 | 33 | |
* | Metropolitan Bank Holding Corp. | 819 | 33 |
* | World Acceptance Corp. | 222 | 30 |
Investors Title Co. | 183 | 26 | |
F&G Annuities & Life Inc. | 905 | 26 | |
Regional Management Corp. | 903 | 25 | |
Plumas Bancorp | 608 | 21 | |
Burke & Herbert Financial Services Corp. | 415 | 21 | |
BayCom Corp. | 866 | 17 | |
MVB Financial Corp. | 682 | 16 | |
* | Third Coast Bancshares Inc. | 742 | 14 |
Bank7 Corp. | 178 | 4 | |
52,642 | |||
Health Care (21.4%) | |||
* | Option Care Health Inc. | 148,260 | 5,164 |
* | Halozyme Therapeutics Inc. | 116,354 | 4,952 |
* | HealthEquity Inc. | 73,273 | 4,950 |
Ensign Group Inc. | 47,517 | 4,762 | |
* | Intra-Cellular Therapies Inc. | 81,655 | 4,533 |
* | Alkermes plc | 144,569 | 4,220 |
* | Vaxcyte Inc. | 80,122 | 4,160 |
* | Lantheus Holdings Inc. | 59,294 | 4,058 |
* | Haemonetics Corp. | 43,696 | 3,921 |
* | Guardant Health Inc. | 96,913 | 3,787 |
* | Merit Medical Systems Inc. | 49,556 | 3,235 |
* | Amicus Therapeutics Inc. | 244,474 | 3,134 |
Shares | Market Value• ($000) | ||
* | Glaukos Corp. | 40,845 | 3,069 |
* | REVOLUTION Medicines Inc. | 88,401 | 3,003 |
CONMED Corp. | 26,716 | 2,978 | |
* | ACADIA Pharmaceuticals Inc. | 105,615 | 2,854 |
* | Inari Medical Inc. | 42,010 | 2,799 |
* | iRhythm Technologies Inc. | 26,745 | 2,765 |
Select Medical Holdings Corp. | 90,632 | 2,647 | |
* | Blueprint Medicines Corp. | 53,038 | 2,644 |
* | Inmode Ltd. | 67,508 | 2,639 |
* | Cytokinetics Inc. | 75,092 | 2,624 |
* | Progyny Inc. | 68,483 | 2,557 |
* | Insmed Inc. | 115,003 | 2,517 |
* | Arrowhead Pharmaceuticals Inc. | 89,379 | 2,470 |
* | Axonics Inc. | 42,763 | 2,450 |
* | Evolent Health Inc. Class A | 96,034 | 2,450 |
* | Denali Therapeutics Inc. | 103,052 | 2,379 |
* | Krystal Biotech Inc. | 18,843 | 2,346 |
* | Axsome Therapeutics Inc. | 28,678 | 2,317 |
*,1 | Corcept Therapeutics Inc. | 69,961 | 2,290 |
* | Madrigal Pharmaceuticals Inc. | 11,871 | 2,137 |
* | Bridgebio Pharma Inc. | 69,485 | 2,078 |
* | PTC Therapeutics Inc. | 49,858 | 1,969 |
* | ImmunoGen Inc. | 123,152 | 1,951 |
* | Akero Therapeutics Inc. | 39,170 | 1,944 |
* | Surgery Partners Inc. | 53,469 | 1,939 |
* | Prothena Corp. plc | 36,145 | 1,909 |
* | STAAR Surgical Co. | 42,400 | 1,838 |
* | TransMedics Group Inc. | 27,674 | 1,816 |
* | Amphastar Pharmaceuticals Inc. | 33,053 | 1,762 |
* | CorVel Corp. | 7,594 | 1,644 |
* | Privia Health Group Inc. | 58,876 | 1,545 |
* | RadNet Inc. | 42,991 | 1,436 |
* | SpringWorks Therapeutics Inc. | 50,703 | 1,429 |
* | Apollo Medical Holdings Inc. | 37,290 | 1,412 |
* | Pacira BioSciences Inc. | 39,658 | 1,400 |
* | Ventyx Biosciences Inc. | 40,742 | 1,365 |
* | Supernus Pharmaceuticals Inc. | 42,794 | 1,363 |
* | Dynavax Technologies Corp. | 94,769 | 1,361 |
* | Vericel Corp. | 41,460 | 1,361 |
* | Pacific Biosciences of California Inc. | 120,229 | 1,356 |
* | AtriCure Inc. | 29,195 | 1,318 |
* | Morphic Holding Inc. | 23,448 | 1,291 |
* | Revance Therapeutics Inc. | 72,619 | 1,280 |
* | Cerevel Therapeutics Holdings Inc. | 53,872 | 1,277 |
* | Phreesia Inc. | 44,471 | 1,266 |
* | TG Therapeutics Inc. | 119,487 | 1,251 |
* | Beam Therapeutics Inc. | 53,753 | 1,246 |
* | Arcellx Inc. | 33,053 | 1,185 |
* | Catalyst Pharmaceuticals Inc. | 83,978 | 1,179 |
* | Cymabay Therapeutics Inc. | 85,412 | 1,174 |
* | Rhythm Pharmaceuticals Inc. | 44,743 | 1,164 |
* | Viking Therapeutics Inc. | 83,742 | 1,156 |
* | Arvinas Inc. | 40,542 | 1,144 |
US Physical Therapy Inc. | 11,293 | 1,139 |
Shares | Market Value• ($000) | ||
* | Zentalis Pharmaceuticals Inc. | 42,790 | 1,136 |
* | Omnicell Inc. | 19,376 | 1,102 |
* | UFP Technologies Inc. | 6,173 | 1,085 |
* | PROCEPT BioRobotics Corp. | 31,423 | 1,072 |
* | Aurinia Pharmaceuticals Inc. | 117,932 | 1,070 |
* | Immunovant Inc. | 46,985 | 1,067 |
* | Harmony Biosciences Holdings Inc. | 28,719 | 1,041 |
LeMaitre Vascular Inc. | 17,191 | 994 | |
* | Amylyx Pharmaceuticals Inc. | 44,229 | 954 |
* | Nuvalent Inc. Class A | 20,885 | 952 |
* | 89bio Inc. | 53,833 | 923 |
* | Ideaya Biosciences Inc. | 30,453 | 894 |
* | Warby Parker Inc. Class A | 73,842 | 887 |
* | BioCryst Pharmaceuticals Inc. | 124,493 | 885 |
* | Syndax Pharmaceuticals Inc. | 47,804 | 885 |
* | Sage Therapeutics Inc. | 43,148 | 863 |
* | Travere Therapeutics Inc. | 58,830 | 840 |
* | MannKind Corp. | 182,103 | 839 |
* | Pliant Therapeutics Inc. | 49,208 | 831 |
* | Cytek Biosciences Inc. | 105,503 | 802 |
* | Geron Corp. (XNGS) | 328,044 | 797 |
* | Accolade Inc. | 54,273 | 732 |
*,1 | Cassava Sciences Inc. | 34,633 | 726 |
* | Hims & Hers Health Inc. | 106,423 | 714 |
Healthcare Services Group Inc. | 61,569 | 711 | |
* | Collegium Pharmaceutical Inc. | 30,178 | 707 |
* | SI-BONE Inc. | 30,275 | 693 |
* | Keros Therapeutics Inc. | 19,612 | 689 |
* | RxSight Inc. | 23,591 | 684 |
* | Rocket Pharmaceuticals Inc. | 43,204 | 676 |
* | Silk Road Medical Inc. | 33,455 | 646 |
* | Avid Bioservices Inc. | 54,055 | 638 |
* | Kymera Therapeutics Inc. | 33,097 | 631 |
* | Mirum Pharmaceuticals Inc. | 23,287 | 615 |
* | Treace Medical Concepts Inc. | 39,369 | 612 |
* | DocGo Inc. | 67,714 | 606 |
* | Xencor Inc. | 27,492 | 604 |
* | Protagonist Therapeutics Inc. | 29,650 | 588 |
* | Outset Medical Inc. | 43,033 | 586 |
* | Addus HomeCare Corp. | 6,443 | 565 |
Atrion Corp. | 1,197 | 557 | |
* | ANI Pharmaceuticals Inc. | 8,622 | 555 |
* | Paragon 28 Inc. | 38,300 | 549 |
* | Day One Biopharmaceuticals Inc. | 39,201 | 529 |
National Research Corp. | 12,576 | 526 | |
* | Viridian Therapeutics Inc. | 28,967 | 526 |
* | Ardelyx Inc. | 121,497 | 518 |
Patterson Cos. Inc. | 16,544 | 497 | |
*,1 | Novavax Inc. | 62,034 | 496 |
* | Adaptive Biotechnologies Corp. | 72,607 | 492 |
* | NextGen Healthcare Inc. | 26,792 | 488 |
*,1 | Anavex Life Sciences Corp. | 61,285 | 484 |
* | OrthoPediatrics Corp. | 12,219 | 467 |
*,1 | Prime Medicine Inc. | 34,261 | 454 |
* | Aclaris Therapeutics Inc. | 60,475 | 452 |
Shares | Market Value• ($000) | ||
* | Alphatec Holdings Inc. | 27,660 | 452 |
* | Surmodics Inc. | 12,052 | 444 |
* | Alignment Healthcare Inc. | 74,338 | 434 |
* | Ironwood Pharmaceuticals Inc. | 49,110 | 432 |
* | Inhibrx Inc. | 19,809 | 424 |
* | LifeStance Health Group Inc. | 50,574 | 415 |
* | Intellia Therapeutics Inc. | 10,999 | 412 |
* | AdaptHealth Corp. | 33,346 | 398 |
* | Cogent Biosciences Inc. | 32,325 | 395 |
* | Tactile Systems Technology Inc. | 20,253 | 384 |
* | Arcutis Biotherapeutics Inc. | 44,791 | 382 |
* | PetIQ Inc. | 19,816 | 378 |
* | ADMA Biologics Inc. | 96,685 | 372 |
* | Rapt Therapeutics Inc. | 19,306 | 369 |
* | BioLife Solutions Inc. | 27,829 | 368 |
* | Avita Medical Inc. | 21,895 | 357 |
* | ModivCare Inc. | 11,128 | 357 |
* | Evolus Inc. | 35,937 | 355 |
* | Harrow Health Inc. | 22,795 | 346 |
* | Pulmonx Corp. | 32,109 | 336 |
* | Disc Medicine Inc. | 6,306 | 334 |
* | Health Catalyst Inc. | 26,308 | 308 |
* | Marinus Pharmaceuticals Inc. | 43,171 | 307 |
* | Alector Inc. | 55,733 | 304 |
* | Aldeyra Therapeutics Inc. | 40,592 | 303 |
* | Pennant Group Inc. | 25,215 | 302 |
* | Coherus Biosciences Inc. | 55,100 | 294 |
iRadimed Corp. | 6,363 | 294 | |
* | Cerus Corp. | 154,561 | 292 |
* | Biomea Fusion Inc. | 17,313 | 292 |
* | Celldex Therapeutics Inc. | 10,406 | 290 |
* | Arcus Biosciences Inc. | 13,834 | 284 |
* | Cabaletta Bio Inc. | 19,906 | 282 |
* | Voyager Therapeutics Inc. | 27,688 | 277 |
* | AnaptysBio Inc. | 13,570 | 267 |
* | Xeris Biopharma Holdings Inc. | 116,250 | 264 |
* | Ocular Therapeutix Inc. | 67,966 | 257 |
Utah Medical Products Inc. | 2,810 | 257 | |
* | Vera Therapeutics Inc. | 14,220 | 252 |
*,1 | UroGen Pharma Ltd. | 14,021 | 245 |
* | Viemed Healthcare Inc. | 29,796 | 236 |
* | Intercept Pharmaceuticals Inc. | 21,525 | 233 |
* | Axogen Inc. | 35,618 | 223 |
* | Deciphera Pharmaceuticals Inc. | 15,919 | 223 |
* | Accuray Inc. | 77,303 | 220 |
* | Agiliti Inc. | 22,449 | 217 |
* | Nevro Corp. | 10,615 | 213 |
* | Quipt Home Medical Corp. | 35,399 | 209 |
* | Liquidia Corp. | 29,447 | 202 |
* | Seres Therapeutics Inc. | 56,979 | 197 |
*,1 | scPharmaceuticals Inc. | 25,339 | 195 |
SIGA Technologies Inc. | 40,452 | 186 | |
HealthStream Inc. | 8,789 | 185 | |
*,1 | Invitae Corp. | 199,760 | 185 |
* | Alpine Immune Sciences Inc. | 14,825 | 183 |
* | Humacyte Inc. | 47,091 | 180 |
* | Astria Therapeutics Inc. | 19,809 | 176 |
* | LivaNova plc | 3,057 | 170 |
* | Castle Biosciences Inc. | 8,440 | 168 |
Shares | Market Value• ($000) | ||
*,1 | Summit Therapeutics Inc. (XNMS) | 101,894 | 165 |
*,1 | InfuSystem Holdings Inc. | 15,985 | 164 |
* | Harvard Bioscience Inc. | 34,577 | 152 |
* | Lineage Cell Therapeutics Inc. | 113,808 | 150 |
* | CorMedix Inc. | 36,656 | 149 |
* | CVRx Inc. | 8,578 | 149 |
* | Ligand Pharmaceuticals Inc. | 2,183 | 144 |
* | NeoGenomics Inc. | 9,589 | 144 |
* | PDS Biotechnology Corp. | 24,010 | 141 |
* | Arbutus Biopharma Corp. | 68,732 | 140 |
*,1 | Heron Therapeutics Inc. | 83,969 | 138 |
* | Rigel Pharmaceuticals Inc. | 119,791 | 137 |
*,1 | Aerovate Therapeutics Inc. | 8,605 | 137 |
*,1 | Foghorn Therapeutics Inc. | 17,998 | 136 |
* | Zynex Inc. | 17,498 | 135 |
* | Crinetics Pharmaceuticals Inc. | 7,624 | 132 |
* | Tela Bio Inc. | 13,569 | 131 |
* | Quanterix Corp. | 4,813 | 129 |
* | MeiraGTx Holdings plc | 20,576 | 129 |
* | Actinium Pharmaceuticals Inc. | 21,189 | 127 |
* | Terns Pharmaceuticals Inc. | 24,186 | 127 |
* | Sight Sciences Inc. | 19,149 | 126 |
* | Karyopharm Therapeutics Inc. | 97,324 | 125 |
* | ImmunityBio Inc. | 77,500 | 125 |
* | EyePoint Pharmaceuticals Inc. | 12,508 | 124 |
* | OptimizeRx Corp. | 14,223 | 121 |
* | Dyne Therapeutics Inc. | 10,502 | 120 |
* | Immuneering Corp. Class A | 13,248 | 119 |
* | Joint Corp. | 12,666 | 118 |
* | Sanara Medtech Inc. | 3,236 | 117 |
* | ProKidney Corp. | 13,504 | 116 |
* | Semler Scientific Inc. | 4,275 | 113 |
* | Merrimack Pharmaceuticals Inc. | 8,955 | 109 |
* | ClearPoint Neuro Inc. | 18,402 | 107 |
Embecta Corp. | 5,283 | 97 | |
* | NanoString Technologies Inc. | 37,544 | 96 |
* | Innovage Holding Corp. | 16,172 | 89 |
* | Artivion Inc. | 5,108 | 86 |
* | Akoya Biosciences Inc. | 16,321 | 85 |
* | Nuvectis Pharma Inc. | 5,859 | 84 |
* | Cue Biopharma Inc. | 29,723 | 81 |
* | Verrica Pharmaceuticals Inc. | 17,843 | 81 |
* | KORU Medical Systems Inc. | 29,882 | 78 |
* | Phathom Pharmaceuticals Inc. | 5,381 | 77 |
* | Omega Therapeutics Inc. | 20,944 | 77 |
* | Y-mAbs Therapeutics Inc. | 14,716 | 75 |
* | MacroGenics Inc. | 15,780 | 74 |
* | Optinose Inc. | 62,241 | 74 |
* | Vaxxinity Inc. Class A | 36,419 | 74 |
* | AirSculpt Technologies Inc. | 9,694 | 74 |
*,1 | Omeros Corp. | 21,233 | 73 |
Phibro Animal Health Corp. Class A | 5,003 | 70 | |
* | X4 Pharmaceuticals Inc. | 52,899 | 68 |
* | Thorne HealthTech Inc. | 6,581 | 67 |
* | P3 Health Partners Inc. | 34,063 | 67 |
* | Innoviva Inc. | 5,085 | 65 |
* | Tyra Biosciences Inc. | 4,292 | 65 |
Shares | Market Value• ($000) | ||
Agenus Inc. | 45,384 | 63 | |
* | Lexicon Pharmaceuticals Inc. | 35,546 | 61 |
*,1 | Bioxcel Therapeutics Inc. | 16,234 | 61 |
* | Mersana Therapeutics Inc. | 52,530 | 58 |
* | Beyond Air Inc. | 19,074 | 58 |
* | HilleVax Inc. | 4,302 | 57 |
* | Arcturus Therapeutics Holdings Inc. | 1,733 | 53 |
* | Vir Biotechnology Inc. | 3,648 | 46 |
* | Eyenovia Inc. | 24,090 | 46 |
* | Mineralys Therapeutics Inc. | 3,052 | 39 |
* | 4D Molecular Therapeutics Inc. | 2,284 | 37 |
* | Nano-X Imaging Ltd. | 4,240 | 35 |
* | Reneo Pharmaceuticals Inc. | 5,445 | 33 |
* | Selecta Biosciences Inc. | 25,650 | 32 |
* | Fennec Pharmaceuticals Inc. | 3,963 | 32 |
* | ARS Pharmaceuticals Inc. | 4,582 | 32 |
* | Sana Biotechnology Inc. | 6,007 | 32 |
* | Enanta Pharmaceuticals Inc. | 2,118 | 31 |
*,1 | Outlook Therapeutics Inc. | 136,332 | 31 |
* | Longboard Pharmaceuticals Inc. | 4,592 | 27 |
* | Biote Corp. Class A | 5,510 | 27 |
* | Vicarious Surgical Inc. | 28,245 | 26 |
* | Bright Green Corp. | 51,534 | 24 |
*,3 | Scilex Holding Co. (Acquired 1/6/23, Cost $90) | 8,622 | 22 |
* | Orchestra BioMed Holdings Inc. | 3,579 | 22 |
* | Cutera Inc. | 1,760 | 20 |
* | Organogenesis Holdings Inc. | 7,019 | 20 |
* | MaxCyte Inc. | 5,177 | 19 |
*,1,2 | Tobira Therapeutics Inc. CVR | 3,989 | 18 |
* | Compass Therapeutics Inc. | 7,869 | 18 |
* | Pulse Biosciences Inc. | 3,531 | 17 |
* | Savara Inc. | 4,105 | 15 |
* | PepGen Inc. | 2,389 | 15 |
* | Genelux Corp. | 606 | 15 |
* | Aveanna Healthcare Holdings Inc. | 9,851 | 14 |
* | Atara Biotherapeutics Inc. | 9,090 | 13 |
* | Codexis Inc. | 7,570 | 13 |
*,1 | Sharecare Inc. | 13,433 | 13 |
* | Citius Pharmaceuticals Inc. | 11,397 | 10 |
* | Janux Therapeutics Inc. | 927 | 10 |
* | BioVie Inc. | 2,880 | 9 |
* | Sagimet Biosciences Inc. Class A | 634 | 8 |
* | Apogee Therapeutics Inc. | 333 | 8 |
* | Turnstone Biologics Corp. | 598 | 6 |
*,1 | Cano Health Inc. | 15,276 | 5 |
* | Rain Oncology Inc. | 3,579 | 4 |
*,1,2 | Synergy Pharmaceuticals LLC | 124,654 | — |
*,2 | Prevail Therapeutics Inc. CVR | 58 | — |
*,2 | OmniAb Inc. 12.5 Earnout | 532 | — |
*,2 | OmniAb Inc. 15 Earnout | 532 | — |
217,535 |
Shares | Market Value• ($000) | ||
Industrials (22.4%) | |||
Simpson Manufacturing Co. Inc. | 37,405 | 5,976 | |
Comfort Systems USA Inc. | 30,857 | 5,695 | |
* | Atkore Inc. | 34,524 | 5,316 |
Applied Industrial Technologies Inc. | 33,637 | 5,193 | |
* | ATI Inc. | 112,442 | 5,097 |
Watts Water Technologies Inc. Class A | 23,840 | 4,500 | |
Maximus Inc. | 53,011 | 4,284 | |
Badger Meter Inc. | 25,644 | 4,259 | |
* | ExlService Holdings Inc. | 140,990 | 4,121 |
* | Chart Industries Inc. | 22,603 | 4,082 |
* | Fluor Corp. | 115,788 | 4,051 |
Exponent Inc. | 44,159 | 3,968 | |
Franklin Electric Co. Inc. | 40,282 | 3,896 | |
AAON Inc. | 59,052 | 3,724 | |
*,1 | TriNet Group Inc. | 32,819 | 3,641 |
EnerSys | 33,500 | 3,517 | |
* | API Group Corp. | 122,476 | 3,448 |
Insperity Inc. | 31,779 | 3,220 | |
Herc Holdings Inc. | 24,662 | 3,210 | |
FTAI Aviation Ltd. | 86,761 | 3,207 | |
Federal Signal Corp. | 52,256 | 3,185 | |
* | AMN Healthcare Services Inc. | 35,367 | 3,126 |
John Bean Technologies Corp. | 27,788 | 3,054 | |
HB Fuller Co. | 42,093 | 3,053 | |
Brink's Co. | 40,232 | 3,050 | |
Installed Building Products Inc. | 20,657 | 2,990 | |
Hillenbrand Inc. | 60,264 | 2,919 | |
* | Flywire Corp. | 83,805 | 2,898 |
* | Bloom Energy Corp. Class A | 168,120 | 2,520 |
* | SPX Technologies Inc. | 31,778 | 2,511 |
* | Dycom Industries Inc. | 24,999 | 2,498 |
CSW Industrials Inc. | 13,439 | 2,414 | |
* | CBIZ Inc. | 41,797 | 2,345 |
* | O-I Glass Inc. | 115,422 | 2,292 |
EVERTEC Inc. | 56,996 | 2,255 | |
Kadant Inc. | 10,203 | 2,242 | |
Albany International Corp. Class A | 23,831 | 2,210 | |
ICF International Inc. | 16,332 | 2,206 | |
McGrath RentCorp. | 21,540 | 2,178 | |
* | Verra Mobility Corp. | 121,722 | 2,165 |
Belden Inc. | 22,954 | 2,155 | |
* | AeroVironment Inc. | 21,878 | 2,123 |
Terex Corp. | 34,001 | 2,061 | |
* | MYR Group Inc. | 14,342 | 2,038 |
* | Masonite International Corp. | 19,344 | 1,987 |
* | ACI Worldwide Inc. | 81,672 | 1,983 |
Mueller Water Products Inc. Class A | 135,463 | 1,913 | |
* | Sterling Infrastructure Inc. | 22,869 | 1,893 |
* | StoneCo. Ltd. Class A | 154,160 | 1,890 |
* | OSI Systems Inc. | 13,836 | 1,887 |
* | Remitly Global Inc. | 73,584 | 1,851 |
* | Huron Consulting Group Inc. | 16,574 | 1,657 |
Helios Technologies Inc. | 28,525 | 1,651 | |
*,1 | Enovix Corp. | 119,140 | 1,642 |
Forward Air Corp. | 22,838 | 1,617 | |
* | RXO Inc. | 87,725 | 1,586 |
Shares | Market Value• ($000) | ||
Otter Tail Corp. | 19,055 | 1,570 | |
*,1 | Rocket Lab USA Inc. | 242,653 | 1,531 |
Alamo Group Inc. | 8,790 | 1,509 | |
* | PGT Innovations Inc. | 50,669 | 1,428 |
* | Payoneer Global Inc. | 230,767 | 1,428 |
ESCO Technologies Inc. | 12,897 | 1,380 | |
* | Modine Manufacturing Co. | 28,695 | 1,366 |
* | Energy Recovery Inc. | 48,510 | 1,318 |
Enerpac Tool Group Corp. | 50,054 | 1,311 | |
* | Vicor Corp. | 19,316 | 1,309 |
Standex International Corp. | 8,327 | 1,279 | |
H&E Equipment Services Inc. | 28,013 | 1,270 | |
* | AvidXchange Holdings Inc. | 119,079 | 1,224 |
* | Construction Partners Inc. Class A | 35,010 | 1,217 |
Lindsay Corp. | 9,632 | 1,195 | |
* | Gibraltar Industries Inc. | 15,181 | 1,139 |
* | NV5 Global Inc. | 10,646 | 1,084 |
Kforce Inc. | 16,887 | 1,058 | |
* | LegalZoom.Com Inc. | 90,726 | 1,035 |
Griffon Corp. | 22,829 | 956 | |
* | PagSeguro Digital Ltd. Class A | 105,362 | 946 |
* | Montrose Environmental Group Inc. | 24,314 | 935 |
Wabash National Corp. | 41,351 | 932 | |
* | ZipRecruiter Inc. Class A | 60,776 | 923 |
* | ASGN Inc. | 11,094 | 911 |
ArcBest Corp. | 8,282 | 874 | |
Marten Transport Ltd. | 40,435 | 849 | |
* | Janus International Group Inc. | 74,010 | 847 |
* | GMS Inc. | 11,449 | 794 |
* | CIRCOR International Inc. | 14,103 | 785 |
Zurn Elkay Water Solutions Corp. | 25,680 | 761 | |
* | Donnelley Financial Solutions Inc. | 15,363 | 757 |
* | Leonardo DRS Inc. | 43,990 | 753 |
Chase Corp. | 5,621 | 711 | |
Tennant Co. | 8,509 | 701 | |
Napco Security Technologies Inc. | 27,499 | 681 | |
* | SP Plus Corp. | 17,058 | 668 |
* | Transcat Inc. | 6,435 | 656 |
CRA International Inc. | 5,923 | 643 | |
Mesa Laboratories Inc. | 4,486 | 643 | |
Triton International Ltd. | 7,227 | 606 | |
* | Joby Aviation Inc. | 81,156 | 605 |
Myers Industries Inc. | 31,854 | 599 | |
Douglas Dynamics Inc. | 19,668 | 595 | |
Moog Inc. Class A | 4,999 | 581 | |
* | Cimpress plc | 8,794 | 568 |
* | IES Holdings Inc. | 7,155 | 536 |
Flex LNG Ltd. | 17,512 | 530 | |
Barrett Business Services Inc. | 5,394 | 516 | |
TTEC Holdings Inc. | 16,950 | 504 | |
Pitney Bowes Inc. | 152,955 | 503 | |
Shyft Group Inc. | 30,026 | 471 | |
* | I3 Verticals Inc. Class A | 19,763 | 467 |
* | International Money Express Inc. | 26,908 | 465 |
* | Franklin Covey Co. | 10,652 | 455 |
* | CryoPort Inc. | 32,042 | 452 |
Cadre Holdings Inc. | 17,031 | 450 |
Shares | Market Value• ($000) | ||
* | Target Hospitality Corp. | 27,382 | 435 |
Hyster-Yale Materials Handling Inc. | 9,503 | 434 | |
Dorian LPG Ltd. | 16,342 | 422 | |
Allient Inc. | 12,010 | 409 | |
Cass Information Systems Inc. | 10,496 | 402 | |
* | Beacon Roofing Supply Inc. | 4,892 | 391 |
United States Lime & Minerals Inc. | 1,785 | 387 | |
Apogee Enterprises Inc. | 7,346 | 371 | |
* | Marqeta Inc. Class A | 56,384 | 347 |
Werner Enterprises Inc. | 8,042 | 335 | |
* | Custom Truck One Source Inc. | 49,480 | 332 |
Trinity Industries Inc. | 12,890 | 323 | |
* | Forrester Research Inc. | 10,245 | 314 |
* | Virgin Galactic Holdings Inc. | 123,684 | 312 |
*,1 | Eos Energy Enterprises Inc. | 84,635 | 275 |
LSI Industries Inc. | 17,282 | 272 | |
* | Cantaloupe Inc. | 33,773 | 267 |
* | Itron Inc. | 3,775 | 258 |
* | Bowman Consulting Group Ltd. | 8,752 | 258 |
GATX Corp. | 1,958 | 231 | |
Granite Construction Inc. | 5,329 | 220 | |
*,1 | PureCycle Technologies Inc. | 22,466 | 201 |
* | Luna Innovations Inc. | 28,170 | 194 |
Patrick Industries Inc. | 2,302 | 193 | |
* | Global Business Travel Group I | 28,384 | 192 |
* | Daseke Inc. | 35,550 | 188 |
* | IBEX Holdings Ltd. | 9,612 | 188 |
* | Distribution Solutions Group Inc. | 3,598 | 185 |
Preformed Line Products Co. | 1,009 | 171 | |
* | SoundThinking Inc. | 7,901 | 170 |
Gorman-Rupp Co. | 4,325 | 139 | |
* | Evolv Technologies Holdings Inc. | 18,122 | 127 |
* | Cross Country Healthcare Inc. | 4,841 | 125 |
Karat Packaging Inc. | 4,900 | 122 | |
*,1 | Velo3D Inc. | 76,429 | 121 |
*,1 | Eve Holding Inc. | 15,472 | 114 |
Primoris Services Corp. | 3,009 | 106 | |
* | Performant Financial Corp. | 43,031 | 101 |
* | Concrete Pumping Holdings Inc. | 12,910 | 98 |
* | Iteris Inc. | 19,756 | 91 |
* | Thermon Group Holdings Inc. | 3,305 | 91 |
* | EVI Industries Inc. | 3,384 | 89 |
Hirequest Inc. | 4,582 | 87 | |
Information Services Group Inc. | 16,267 | 85 | |
* | SKYX Platforms Corp. | 48,614 | 85 |
*,1 | CompoSecure Inc. | 12,509 | 79 |
* | 374Water Inc. | 50,643 | 76 |
* | American Woodmark Corp. | 966 | 75 |
* | CPI Card Group Inc. | 3,637 | 75 |
* | Hudson Technologies Inc. | 6,079 | 73 |
* | Paysign Inc. | 27,893 | 63 |
First Advantage Corp. | 4,267 | 60 | |
* | Priority Technology Holdings Inc. | 15,931 | 59 |
* | Limbach Holdings Inc. | 1,464 | 53 |
Shares | Market Value• ($000) | ||
* | Commercial Vehicle Group Inc. | 3,118 | 29 |
Miller Industries Inc. | 698 | 28 | |
* | Babcock & Wilcox Enterprises Inc. | 4,671 | 25 |
* | Blue Bird Corp. | 1,126 | 25 |
* | FARO Technologies Inc. | 1,585 | 25 |
*,1 | Redwire Corp. | 7,009 | 23 |
*,1 | Amprius Technologies Inc. | 4,598 | 23 |
*,1 | Ispire Technology Inc. | 2,337 | 23 |
*,1 | Dragonfly Energy Holdings Corp. | 13,004 | 22 |
* | Himalaya Shipping Ltd. | 4,077 | 20 |
* | Sterling Check Corp. | 1,332 | 19 |
* | PAM Transportation Services Inc. | 681 | 16 |
* | Atmus Filtration Technologies Inc. | 605 | 14 |
* | Core Molding Technologies Inc. | 493 | 13 |
* | INNOVATE Corp. | 6,959 | 11 |
* | Mayville Engineering Co. Inc. | 886 | 10 |
* | Atlanticus Holdings Corp. | 219 | 8 |
* | Workhorse Group Inc. | 7,389 | 6 |
* | Terran Orbital Corp. | 4,327 | 5 |
227,946 | |||
Other (0.0%)4 | |||
*,2 | Aduro Biotech Inc. CVR | 9,451 | 2 |
*,1,2 | GTX Inc. CVR | 530 | — |
2 | |||
Real Estate (1.6%) | |||
Ryman Hospitality Properties Inc. | 50,342 | 4,281 | |
St. Joe Co. | 29,982 | 1,851 | |
eXp World Holdings Inc. | 60,307 | 1,159 | |
Tanger Factory Outlet Centers Inc. | 41,681 | 969 | |
* | Redfin Corp. | 92,648 | 882 |
* | Compass Inc. Class A | 223,042 | 803 |
DigitalBridge Group Inc. | 44,569 | 776 | |
Outfront Media Inc. | 60,410 | 686 | |
Phillips Edison & Co. Inc. | 17,473 | 592 | |
Universal Health Realty Income Trust | 11,243 | 524 | |
Community Healthcare Trust Inc. | 14,891 | 494 | |
CBL & Associates Properties Inc. | 17,522 | 375 | |
Alexander's Inc. | 1,875 | 360 | |
Saul Centers Inc. | 9,358 | 351 | |
Essential Properties Realty Trust Inc. | 14,299 | 343 | |
Marcus & Millichap Inc. | 8,102 | 270 | |
RMR Group Inc. Class A | 9,439 | 239 | |
NexPoint Residential Trust Inc. | 5,846 | 220 | |
Four Corners Property Trust Inc. | 8,141 | 205 | |
National Health Investors Inc. | 3,601 | 184 | |
CareTrust REIT Inc. | 8,140 | 164 | |
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 6,942 | 155 | |
UMH Properties Inc. | 8,090 | 121 | |
* | Opendoor Technologies Inc. | 24,717 | 96 |
Shares | Market Value• ($000) | ||
* | Maui Land & Pineapple Co. Inc. | 6,077 | 84 |
Gladstone Commercial Corp. | 6,041 | 79 | |
Clipper Realty Inc. | 10,146 | 62 | |
* | Anywhere Real Estate Inc. | 8,639 | 57 |
16,382 | |||
Technology (19.7%) | |||
* | Super Micro Computer Inc. | 40,433 | 11,122 |
* | SPS Commerce Inc. | 31,987 | 5,954 |
* | Axcelis Technologies Inc. | 28,408 | 5,459 |
* | Rambus Inc. | 95,053 | 5,368 |
* | Novanta Inc. | 31,218 | 5,213 |
* | Fabrinet | 32,093 | 5,160 |
* | Onto Innovation Inc. | 36,589 | 5,085 |
* | Qualys Inc. | 32,423 | 5,047 |
* | Workiva Inc. | 42,625 | 4,768 |
* | Tenable Holdings Inc. | 99,542 | 4,516 |
Power Integrations Inc. | 49,520 | 4,161 | |
* | MACOM Technology Solutions Holdings Inc. | 47,394 | 4,008 |
* | Insight Enterprises Inc. | 25,016 | 4,005 |
Advanced Energy Industries Inc. | 32,807 | 3,873 | |
* | Silicon Laboratories Inc. | 27,692 | 3,735 |
* | MicroStrategy Inc. Class A | 9,635 | 3,445 |
* | Box Inc. Class A | 122,794 | 3,252 |
* | Appfolio Inc. Class A | 16,740 | 3,227 |
* | Altair Engineering Inc. Class A | 46,817 | 3,112 |
* | Freshworks Inc. Class A | 141,259 | 3,089 |
* | Varonis Systems Inc. | 94,789 | 3,027 |
* | Blackline Inc. | 49,157 | 2,952 |
* | Blackbaud Inc. | 37,958 | 2,889 |
* | Rapid7 Inc. | 52,316 | 2,636 |
* | Diodes Inc. | 30,912 | 2,530 |
* | Yelp Inc. | 58,747 | 2,517 |
* | CommVault Systems Inc. | 36,697 | 2,507 |
* | Alarm.com Holdings Inc. | 41,772 | 2,447 |
* | Envestnet Inc. | 43,676 | 2,386 |
* | FormFactor Inc. | 67,293 | 2,377 |
Progress Software Corp. | 37,948 | 2,309 | |
* | Sprout Social Inc. Class A | 41,669 | 2,231 |
* | Plexus Corp. | 21,150 | 2,148 |
* | Fastly Inc. Class A | 86,463 | 2,057 |
* | Sitime Corp. | 14,986 | 1,988 |
* | PagerDuty Inc. | 74,418 | 1,917 |
* | Perficient Inc. | 29,943 | 1,910 |
Kulicke & Soffa Industries Inc. | 33,922 | 1,755 | |
* | Schrodinger Inc. | 47,544 | 1,754 |
* | Appian Corp. Class A | 35,820 | 1,744 |
* | Q2 Holdings Inc. | 49,687 | 1,710 |
* | Verint Systems Inc. | 51,094 | 1,655 |
* | Rogers Corp. | 11,052 | 1,597 |
* | Upwork Inc. | 107,706 | 1,595 |
Clear Secure Inc. Class A | 72,560 | 1,577 | |
* | Cargurus Inc. | 85,155 | 1,542 |
* | MaxLinear Inc. | 64,944 | 1,526 |
*,1 | DigitalOcean Holdings Inc. | 55,194 | 1,493 |
* | Asana Inc. Class A | 69,167 | 1,486 |
CSG Systems International Inc. | 27,148 | 1,474 | |
* | Credo Technology Group Holding Ltd. | 84,986 | 1,399 |
* | Braze Inc. Class A | 30,058 | 1,390 |
* | Impinj Inc. | 20,026 | 1,333 |
Shares | Market Value• ($000) | ||
* | Agilysys Inc. | 17,459 | 1,232 |
CTS Corp. | 27,331 | 1,220 | |
* | Ambarella Inc. | 19,459 | 1,209 |
*,1 | C3.ai Inc. Class A | 38,935 | 1,208 |
* | Aehr Test Systems | 22,523 | 1,149 |
* | Sprinklr Inc. Class A | 75,788 | 1,147 |
* | Jamf Holding Corp. | 60,868 | 1,026 |
* | PROS Holdings Inc. | 27,925 | 1,001 |
* | Zuora Inc. Class A | 107,792 | 982 |
* | PDF Solutions Inc. | 26,682 | 970 |
* | Zeta Global Holdings Corp. Class A | 116,916 | 951 |
* | Parsons Corp. | 16,443 | 938 |
* | AvePoint Inc. | 133,570 | 927 |
A10 Networks Inc. | 61,527 | 916 | |
Shutterstock Inc. | 21,499 | 905 | |
* | Everbridge Inc. | 35,449 | 879 |
* | Model N Inc. | 32,513 | 878 |
Adeia Inc. | 81,377 | 819 | |
* | Yext Inc. | 93,249 | 817 |
Sapiens International Corp. NV | 26,768 | 800 | |
* | indie Semiconductor Inc. Class A | 112,222 | 752 |
* | EngageSmart Inc. | 42,319 | 749 |
* | N-Able Inc. | 54,822 | 733 |
* | Amplitude Inc. Class A | 58,995 | 689 |
* | TechTarget Inc. | 22,724 | 653 |
* | Ziff Davis Inc. | 9,481 | 632 |
* | BigCommerce Holdings Inc. Series 1 | 58,563 | 621 |
* | Eventbrite Inc. Class A | 60,919 | 617 |
Simulations Plus Inc. | 13,812 | 614 | |
* | Alkami Technology Inc. | 34,533 | 602 |
* | Avid Technology Inc. | 20,817 | 555 |
* | Couchbase Inc. | 29,625 | 507 |
* | Intapp Inc. | 13,658 | 500 |
*,1 | Planet Labs PBC | 149,847 | 487 |
Hackett Group Inc. | 20,058 | 473 | |
* | Grid Dynamics Holdings Inc. | 39,142 | 455 |
* | CEVA Inc. | 17,899 | 416 |
* | Magnite Inc. | 49,542 | 409 |
*,1 | Digimarc Corp. | 12,419 | 407 |
* | Thoughtworks Holding Inc. | 80,661 | 401 |
* | OneSpan Inc. | 32,500 | 398 |
* | Mitek Systems Inc. | 34,865 | 389 |
*,1 | MicroVision Inc. | 154,112 | 388 |
* | IonQ Inc. | 21,998 | 378 |
*,1 | Applied Digital Corp. | 59,417 | 359 |
* | Squarespace Inc. Class A | 11,787 | 355 |
* | Olo Inc. Class A | 51,574 | 333 |
NVE Corp. | 3,677 | 325 | |
* | Consensus Cloud Solutions Inc. | 9,769 | 312 |
*,1 | SoundHound AI Inc. Class A | 122,162 | 308 |
* | Weave Communications Inc. | 28,592 | 292 |
* | Innodata Inc. | 21,972 | 286 |
* | Domo Inc. Class B | 26,694 | 285 |
* | MeridianLink Inc. | 15,535 | 275 |
* | NerdWallet Inc. Class A | 29,838 | 269 |
* | SEMrush Holdings Inc. Class A | 27,373 | 259 |
American Software Inc. Class A | 21,902 | 253 | |
* | Synaptics Inc. | 2,788 | 244 |
Shares | Market Value• ($000) | ||
* | SMART Global Holdings Inc. | 9,178 | 237 |
* | LivePerson Inc. | 55,787 | 234 |
* | Expensify Inc. Class A | 48,275 | 207 |
*,1 | Red Violet Inc. | 9,756 | 201 |
* | Digital Turbine Inc. | 21,589 | 192 |
* | Enfusion Inc. Class A | 22,443 | 192 |
* | NextNav Inc. | 44,051 | 190 |
*,1 | Grindr Inc. | 36,017 | 185 |
* | EverCommerce Inc. | 16,105 | 170 |
* | inTEST Corp. | 9,295 | 163 |
* | Nextdoor Holdings Inc. | 74,645 | 162 |
* | Kimball Electronics Inc. | 5,045 | 152 |
* | Sanmina Corp. | 2,660 | 148 |
* | CoreCard Corp. | 6,196 | 132 |
* | Mediaalpha Inc. Class A | 15,337 | 129 |
* | Definitive Healthcare Corp. | 13,439 | 126 |
* | eGain Corp. | 18,286 | 122 |
* | Navitas Semiconductor Corp. | 13,843 | 122 |
* | ACM Research Inc. Class A | 6,887 | 121 |
* | EverQuote Inc. Class A | 16,720 | 103 |
* | Rimini Street Inc. | 41,732 | 101 |
* | SkyWater Technology Inc. | 15,126 | 101 |
Ebix Inc. | 5,827 | 97 | |
* | PubMatic Inc. Class A | 6,659 | 93 |
* | ePlus Inc. | 1,273 | 84 |
*,1 | Atomera Inc. | 13,022 | 83 |
* | Tucows Inc. Class A | 3,404 | 80 |
* | Viant Technology Inc. Class A | 12,746 | 80 |
* | PAR Technology Corp. | 1,774 | 77 |
* | Bandwidth Inc. Class A | 4,815 | 69 |
*,1 | Veritone Inc. | 22,575 | 69 |
* | Vimeo Inc. | 17,194 | 68 |
* | Transphorm Inc. | 23,102 | 63 |
*,1 | Xometry Inc. Class A | 3,279 | 62 |
* | LiveVox Holdings Inc. | 19,083 | 61 |
* | Vivid Seats Inc. Class A | 7,110 | 52 |
* | Cleanspark Inc. | 8,185 | 40 |
*,1 | BigBear.ai Holdings Inc. | 22,951 | 38 |
* | Asure Software Inc. | 2,895 | 36 |
*,1 | Bit Digital Inc. | 10,114 | 24 |
* | FiscalNote Holdings Inc. | 10,790 | 24 |
* | Presto Automation Inc. | 2,716 | 9 |
*,1 | Cipher Mining Inc. | 2,581 | 8 |
*,1 | CXApp Inc. | 1,667 | 7 |
201,125 | |||
Telecommunications (1.8%) | |||
* | Extreme Networks Inc. | 109,987 | 3,019 |
* | Calix Inc. | 51,433 | 2,392 |
InterDigital Inc. | 23,641 | 2,050 | |
* | Viavi Solutions Inc. | 160,918 | 1,681 |
Cogent Communications Holdings Inc. | 23,766 | 1,677 | |
* | Harmonic Inc. | 95,945 | 1,025 |
* | Digi International Inc. | 27,191 | 908 |
* | Infinera Corp. | 173,773 | 813 |
* | Globalstar Inc. | 525,483 | 757 |
*,1 | Lightwave Logic Inc. | 99,958 | 631 |
* | CommScope Holding Co. Inc. | 180,572 | 603 |
* | Anterix Inc. | 14,604 | 483 |
* | Clearfield Inc. | 11,431 | 402 |
* | 8x8 Inc. | 98,624 | 320 |
* | Ooma Inc. | 20,756 | 292 |
* | IDT Corp. Class B | 10,470 | 245 |
Shares | Market Value• ($000) | ||
*,1 | AST SpaceMobile Inc. | 53,099 | 208 |
* | Kaltura Inc. | 73,515 | 139 |
* | Cambium Networks Corp. | 10,606 | 98 |
* | Akoustis Technologies Inc. | 59,356 | 90 |
*,1 | Charge Enterprises Inc. | 118,382 | 64 |
* | Gogo Inc. | 5,168 | 59 |
Bel Fuse Inc. Class B | 687 | 36 | |
* | Consolidated Communications Holdings Inc. | 7,793 | 31 |
18,023 | |||
Utilities (1.8%) | |||
* | Casella Waste Systems Inc. Class A | 48,507 | 3,821 |
American States Water Co. | 32,281 | 2,718 | |
Ormat Technologies Inc. (XNYS) | 29,946 | 2,274 | |
New Jersey Resources Corp. | 44,467 | 1,875 | |
MGE Energy Inc. | 16,163 | 1,171 | |
Middlesex Water Co. | 15,300 | 1,152 | |
Chesapeake Utilities Corp. | 9,807 | 1,080 | |
California Water Service Group | 15,428 | 775 | |
*,1 | Sunnova Energy International Inc. | 42,663 | 594 |
York Water Co. | 12,431 | 507 | |
PNM Resources Inc. | 7,883 | 349 | |
1 | Brookfield Infrastructure Corp. Class A (XTSE) | 8,355 | 325 |
*,1 | NuScale Power Corp. | 46,725 | 279 |
* | Vertex Energy Inc. | 58,808 | 249 |
Artesian Resources Corp. Class A | 5,349 | 247 | |
Excelerate Energy Inc. Class A | 12,328 | 229 | |
Unitil Corp. | 4,014 | 196 | |
* | Pure Cycle Corp. | 17,145 | 188 |
* | Cadiz Inc. | 35,964 | 144 |
Genie Energy Ltd. Class B | 9,231 | 141 |
Shares | Market Value• ($000) | ||
Global Water Resources Inc. | 9,707 | 108 | |
Consolidated Water Co. Ltd. | 3,705 | 99 | |
* | Heritage-Crystal Clean Inc. | 2,174 | 98 |
Aris Water Solution Inc. Class A | 1,730 | 18 | |
RGC Resources Inc. | 461 | 8 | |
18,645 | |||
Total Common Stocks (Cost $889,166) | 1,019,723 | ||
Temporary Cash Investments (2.3%) | |||
Money Market Fund (2.3%) | |||
5,6 | Vanguard Market Liquidity Fund, 5.384% (Cost $23,295) | 233,030 | 23,301 |
Total Investments (102.4%) (Cost $912,461) | 1,043,024 | ||
Other Assets and Liabilities—Net (-2.4%) | (24,489) | ||
Net Assets (100%) | 1,018,535 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $19,962,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Restricted securities totaling $22,000, representing 0.0% of net assets. |
4 | “Other” represents securities that are not classified by the fund’s benchmark index. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
6 | Collateral of $22,273,000 was received for securities on loan. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2023 | 16 | 1,521 | 7 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $889,166) | 1,019,723 |
Affiliated Issuers (Cost $23,295) | 23,301 |
Total Investments in Securities | 1,043,024 |
Investment in Vanguard | 35 |
Cash Collateral Pledged—Futures Contracts | 100 |
Receivables for Investment Securities Sold | 3,824 |
Receivables for Accrued Income | 522 |
Receivables for Capital Shares Issued | 44 |
Total Assets | 1,047,549 |
Liabilities | |
Due to Custodian | 2,311 |
Payables for Investment Securities Purchased | 4,314 |
Collateral for Securities on Loan | 22,273 |
Payables for Capital Shares Redeemed | 53 |
Payables to Vanguard | 59 |
Variation Margin Payable—Futures Contracts | 4 |
Total Liabilities | 29,014 |
Net Assets | 1,018,535 |
1 Includes $19,962,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 1,269,839 |
Total Distributable Earnings (Loss) | (251,304) |
Net Assets | 1,018,535 |
ETF Shares—Net Assets | |
Applicable to 4,475,393 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 783,865 |
Net Asset Value Per Share—ETF Shares | $175.15 |
Institutional Shares—Net Assets | |
Applicable to 703,241 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 234,670 |
Net Asset Value Per Share—Institutional Shares | $333.70 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 7,967 |
Interest2 | 34 |
Securities Lending—Net | 2,020 |
Total Income | 10,021 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 22 |
Management and Administrative—ETF Shares | 844 |
Management and Administrative—Institutional Shares | 151 |
Marketing and Distribution—ETF Shares | 40 |
Marketing and Distribution—Institutional Shares | 8 |
Custodian Fees | 78 |
Auditing Fees | 28 |
Shareholders’ Reports—ETF Shares | 49 |
Shareholders’ Reports—Institutional Shares | 4 |
Trustees’ Fees and Expenses | — |
Other Expenses | 24 |
Total Expenses | 1,248 |
Expenses Paid Indirectly | (1) |
Net Expenses | 1,247 |
Net Investment Income | 8,774 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | (2,664) |
Futures Contracts | (133) |
Realized Net Gain (Loss) | (2,797) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 56,526 |
Futures Contracts | 35 |
Change in Unrealized Appreciation (Depreciation) | 56,561 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 62,538 |
1 | Dividends are net of foreign withholding taxes of $18,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $31,000, $1,000, less than $1,000, and $3,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $74,348,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 8,774 | 7,025 |
Realized Net Gain (Loss) | (2,797) | 31,212 |
Change in Unrealized Appreciation (Depreciation) | 56,561 | (327,709) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 62,538 | (289,472) |
Distributions | ||
ETF Shares | (6,440) | (3,596) |
Institutional Shares | (2,474) | (3,487) |
Total Distributions | (8,914) | (7,083) |
Capital Share Transactions | ||
ETF Shares | 87,971 | 102,858 |
Institutional Shares | (35,435) | (380,738) |
Net Increase (Decrease) from Capital Share Transactions | 52,536 | (277,880) |
Total Increase (Decrease) | 106,160 | (574,435) |
Net Assets | ||
Beginning of Period | 912,375 | 1,486,810 |
End of Period | 1,018,535 | 912,375 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $165.45 | $222.64 | $164.83 | $141.63 | $160.12 |
Investment Operations | |||||
Net Investment Income1 | 1.499 | 1.137 | .839 | 1.097 | .971 |
Net Realized and Unrealized Gain (Loss) on Investments | 9.702 | (57.266) | 57.852 | 23.237 | (18.527) |
Total from Investment Operations | 11.201 | (56.129) | 58.691 | 24.334 | (17.556) |
Distributions | |||||
Dividends from Net Investment Income | (1.501) | (1.061) | (.881) | (1.134) | (.934) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (1.501) | (1.061) | (.881) | (1.134) | (.934) |
Net Asset Value, End of Period | $175.15 | $165.45 | $222.64 | $164.83 | $141.63 |
Total Return | 6.87% | -25.28% | 35.67% | 17.32% | -10.97% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $784 | $658 | $735 | $371 | $301 |
Ratio of Total Expenses to Average Net Assets | 0.15%2 | 0.15% | 0.15% | 0.15% | 0.15% |
Ratio of Net Investment Income to Average Net Assets | 0.90% | 0.61% | 0.40% | 0.75% | 0.68% |
Portfolio Turnover Rate3 | 32% | 33% | 47% | 38% | 28% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.15%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $315.20 | $424.16 | $314.01 | $269.76 | $305.04 |
Investment Operations | |||||
Net Investment Income1 | 3.090 | 2.706 | 1.912 | 2.275 | 2.021 |
Net Realized and Unrealized Gain (Loss) on Investments | 18.463 | (109.390) | 110.162 | 44.269 | (35.267) |
Total from Investment Operations | 21.553 | (106.684) | 112.074 | 46.544 | (33.246) |
Distributions | |||||
Dividends from Net Investment Income | (3.053) | (2.276) | (1.924) | (2.294) | (2.034) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (3.053) | (2.276) | (1.924) | (2.294) | (2.034) |
Net Asset Value, End of Period | $333.70 | $315.20 | $424.16 | $314.01 | $269.76 |
Total Return | 6.94% | -25.24% | 35.77% | 17.42% | -10.91% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $235 | $255 | $752 | $500 | $472 |
Ratio of Total Expenses to Average Net Assets | 0.08%2 | 0.08% | 0.08% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 0.98% | 0.72% | 0.48% | 0.82% | 0.75% |
Portfolio Turnover Rate3 | 32% | 33% | 47% | 38% | 28% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended August 31, 2023, custodian fee offset arrangements reduced the fund’s expenses by $1,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 1,016,976 | 22 | 2,725 | 1,019,723 |
Temporary Cash Investments | 23,301 | — | — | 23,301 |
Total | 1,040,277 | 22 | 2,725 | 1,043,024 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 7 | — | — | 7 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions and passive foreign investment companies were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 74,192 |
Total Distributable Earnings (Loss) | (74,192) |
Amount ($000) | |
Undistributed Ordinary Income | 2,466 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 123,995 |
Capital Loss Carryforwards | (377,765) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (251,304) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 8,914 | 7,083 |
Long-Term Capital Gains | — | — |
Total | 8,914 | 7,083 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 919,030 |
Gross Unrealized Appreciation | 223,717 |
Gross Unrealized Depreciation | (99,722) |
Net Unrealized Appreciation (Depreciation) | 123,995 |
F. | During the year ended August 31, 2023, the fund purchased $572,595,000 of investment securities and sold $517,561,000 of investment securities, other than temporary cash investments. Purchases and sales include $264,373,000 and $180,699,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital share transactions for each class of shares were: |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 268,511 | 1,575 | 578,438 | 3,075 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (180,540) | (1,075) | (475,580) | (2,400) | |
Net Increase (Decrease)—ETF Shares | 87,971 | 500 | 102,858 | 675 |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 49,602 | 158 | 29,035 | 81 | |
Issued in Lieu of Cash Distributions | 2,350 | 8 | 3,298 | 9 | |
Redeemed | (87,387) | (271) | (413,071) | (1,055) | |
Net Increase (Decrease)—Institutional Shares | (35,435) | (105) | (380,738) | (965) |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
October 19, 2023
Fund | Percentage |
Russell 2000 Index Fund | 64.8% |
Russell 2000 Value Index Fund | 65.6 |
Russell 2000 Growth Index Fund | 71.0 |
Fund | ($000) |
Russell 2000 Index Fund | 74,623 |
Russell 2000 Value Index Fund | 17,334 |
Russell 2000 Growth Index Fund | 7,724 |
Fund | ($000) |
Russell 2000 Index Fund | 366 |
Russell 2000 Value Index Fund | 14 |
Russell 2000 Growth Index Fund | 9 |
Fund | ($000) |
Russell 2000 Index Fund | 11,680 |
Russell 2000 Value Index Fund | 3,469 |
Russell 2000 Growth Index Fund | 571 |
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Your Fund’s Performance at a Glance | 1 |
About Your Fund’s Expenses | 2 |
Performance Summary | 4 |
Financial Statements | 7 |
Trustees Approve Advisory Arrangement | 47 |
Liquidity Risk Management | 49 |
• | For the 12 months ended August 31, 2023, Vanguard Russell 3000 Index Fund, which represents the broad U.S. stock market, returned 14.68% for ETF Shares (based on net asset value) and 14.70% for Institutional Shares. The fund’s returns closely tracked its target index. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks including the Federal Reserve fanned fears of recession, the economy proved more resilient than expected. |
• | Large-capitalization stocks outperformed their mid- and small-cap counterparts, and growth stocks performed better than value. |
• | Returns for nine of the 11 industry sectors represented in the fund were positive, led by technology, which had the largest weighting as well as a return above 30%. Industrials, consumer discretionary, and health care were also top performers. Real estate and utilities were detractors. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Russell 3000 Index Fund | |||
ETF Shares | $1,000.00 | $1,130.10 | $0.54 |
Institutional Shares | 1,000.00 | 1,130.20 | 0.43 |
Based on Hypothetical 5% Yearly Return | |||
Russell 3000 Index Fund | |||
ETF Shares | $1,000.00 | $1,024.70 | $0.51 |
Institutional Shares | 1,000.00 | 1,024.80 | 0.41 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Russell 3000 Index Fund ETF Shares Net Asset Value | 14.68% | 10.16% | 12.10% | $31,342 | |
Russell 3000 Index Fund ETF Shares Market Price | 14.72 | 10.16 | 12.11 | 31,357 | |
Russell 3000 Index | 14.76 | 10.25 | 12.23 | 31,713 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 31,461 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Russell 3000 Index Fund Institutional Shares | 14.70% | 10.19% | 12.16% | $15,748,065 | |
Russell 3000 Index | 14.76 | 10.25 | 12.23 | 15,856,728 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 14.75 | 10.12 | 12.14 | 15,730,560 |
One Year | Five Years | Ten Years | |
Russell 3000 Index Fund ETF Shares Market Price | 14.72% | 62.21% | 213.57% |
Russell 3000 Index Fund ETF Shares Net Asset Value | 14.68 | 62.20 | 213.42 |
Russell 3000 Index | 14.76 | 62.89 | 217.13 |
Basic Materials | 2.0% |
Consumer Discretionary | 14.5 |
Consumer Staples | 5.0 |
Energy | 4.6 |
Financials | 10.4 |
Health Care | 12.6 |
Industrials | 13.1 |
Real Estate | 2.9 |
Technology | 30.0 |
Telecommunications | 2.3 |
Utilities | 2.6 |
Other | 0.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Basic Materials (2.0%) | |||
Linde plc | 31,859 | 12,331 | |
Air Products and Chemicals Inc. | 14,379 | 4,249 | |
Freeport-McMoRan Inc. | 92,970 | 3,710 | |
Ecolab Inc. | 16,079 | 2,956 | |
Nucor Corp. | 16,334 | 2,811 | |
Dow Inc. | 45,910 | 2,505 | |
Fastenal Co. | 36,896 | 2,124 | |
Newmont Corp. | 51,682 | 2,037 | |
LyondellBasell Industries NV Class A | 16,785 | 1,658 | |
Albemarle Corp. | 7,606 | 1,511 | |
International Flavors & Fragrances Inc. | 16,959 | 1,195 | |
Steel Dynamics Inc. | 10,454 | 1,114 | |
Reliance Steel & Aluminum Co. | 3,807 | 1,085 | |
Avery Dennison Corp. | 5,268 | 992 | |
CF Industries Holdings Inc. | 12,678 | 977 | |
Mosaic Co. | 21,501 | 835 | |
Celanese Corp. | 6,446 | 815 | |
International Paper Co. | 22,486 | 785 | |
FMC Corp. | 8,042 | 693 | |
Eastman Chemical Co. | 7,745 | 658 | |
* | Cleveland-Cliffs Inc. | 33,358 | 510 |
Olin Corp. | 8,440 | 490 | |
Royal Gold Inc. | 4,202 | 471 | |
United States Steel Corp. | 14,420 | 448 | |
Southern Copper Corp. | 5,478 | 442 | |
* | RBC Bearings Inc. | 1,867 | 430 |
Commercial Metals Co. | 7,461 | 420 | |
UFP Industries Inc. | 3,817 | 398 | |
Hexcel Corp. | 5,368 | 394 | |
Valvoline Inc. | 10,996 | 379 | |
Timken Co. | 4,591 | 351 | |
Alcoa Corp. | 11,321 | 341 | |
Element Solutions Inc. | 16,183 | 334 | |
Chemours Co. | 9,448 | 321 | |
Huntsman Corp. | 11,200 | 312 | |
Balchem Corp. | 2,029 | 285 | |
Ashland Inc. | 3,244 | 281 | |
Boise Cascade Co. | 2,537 | 277 | |
Mueller Industries Inc. | 3,577 | 276 | |
Westlake Corp. | 2,058 | 270 | |
Cabot Corp. | 3,546 | 257 | |
* | Livent Corp. | 11,410 | 245 |
Avient Corp. | 5,791 | 232 |
Shares | Market Value• ($000) | ||
NewMarket Corp. | 420 | 197 | |
SSR Mining Inc. (XTSE) | 13,197 | 196 | |
Carpenter Technology Corp. | 3,050 | 191 | |
Innospec Inc. | 1,580 | 170 | |
Hecla Mining Co. | 38,057 | 167 | |
Sensient Technologies Corp. | 2,675 | 165 | |
Quaker Chemical Corp. | 865 | 154 | |
Worthington Industries Inc. | 1,999 | 150 | |
Scotts Miracle-Gro Co. | 2,581 | 146 | |
* | Constellium SE | 8,069 | 145 |
Materion Corp. | 1,304 | 142 | |
* | MP Materials Corp. | 6,617 | 139 |
* | Ingevity Corp. | 2,397 | 129 |
Minerals Technologies Inc. | 2,066 | 126 | |
Stepan Co. | 1,367 | 119 | |
Sylvamo Corp. | 2,487 | 104 | |
Tronox Holdings plc | 7,414 | 101 | |
*,1 | Uranium Energy Corp. | 22,457 | 97 |
Orion SA | 3,512 | 79 | |
Kaiser Aluminum Corp. | 1,011 | 77 | |
Hawkins Inc. | 1,219 | 76 | |
* | Energy Fuels Inc. | 9,793 | 70 |
Schnitzer Steel Industries Inc. Class A | 2,049 | 68 | |
Compass Minerals International Inc. | 2,156 | 65 | |
* | Novagold Resources Inc. | 15,007 | 62 |
* | Ecovyst Inc. | 5,959 | 61 |
* | TimkenSteel Corp. | 2,667 | 58 |
* | US Silica Holdings Inc. | 4,684 | 58 |
* | Perimeter Solutions SA | 9,714 | 57 |
Mativ Holdings Inc. | 3,389 | 56 | |
* | Ivanhoe Electric Inc. | 3,515 | 55 |
AdvanSix Inc. | 1,645 | 54 | |
* | Piedmont Lithium Inc. | 1,095 | 49 |
* | Coeur Mining Inc. | 20,049 | 48 |
Koppers Holdings Inc. | 1,222 | 47 | |
* | Clearwater Paper Corp. | 1,198 | 46 |
Ryerson Holding Corp. | 1,400 | 44 | |
GrafTech International Ltd. | 11,855 | 42 | |
Haynes International Inc. | 739 | 36 | |
* | LSB Industries Inc. | 3,521 | 36 |
Olympic Steel Inc. | 670 | 36 | |
* | Northwest Pipe Co. | 774 | 26 |
* | Century Aluminum Co. | 3,243 | 24 |
* | i-80 Gold Corp. | 12,037 | 24 |
* | Intrepid Potash Inc. | 844 | 23 |
* | Encore Energy Corp. | 8,780 | 23 |
American Vanguard Corp. | 1,428 | 20 |
Shares | Market Value• ($000) | ||
Omega Flex Inc. | 208 | 17 | |
* | Rayonier Advanced Materials Inc. | 4,611 | 16 |
FutureFuel Corp. | 1,670 | 12 | |
Tredegar Corp. | 2,137 | 11 | |
Caledonia Mining Corp. plc | 1,021 | 11 | |
* | Origin Materials Inc. | 7,576 | 10 |
*,1 | Dakota Gold Corp. | 3,098 | 9 |
* | Perpetua Resources Corp. | 2,379 | 8 |
* | LanzaTech Global Inc. | 1,173 | 8 |
*,1 | 5e Advanced Materials Inc. | 1,816 | 5 |
* | Glatfelter Corp. | 2,180 | 4 |
* | Contango ORE Inc. | 235 | 4 |
Valhi Inc. | 130 | 2 | |
57,380 | |||
Consumer Discretionary (14.5%) | |||
* | Amazon.com Inc. | 585,187 | 80,762 |
* | Tesla Inc. | 179,246 | 46,260 |
Home Depot Inc. | 65,733 | 21,712 | |
Costco Wholesale Corp. | 28,766 | 15,801 | |
Walmart Inc. | 92,436 | 15,031 | |
McDonald's Corp. | 47,261 | 13,287 | |
* | Netflix Inc. | 28,512 | 12,365 |
* | Walt Disney Co. | 118,643 | 9,928 |
Lowe's Cos. Inc. | 38,814 | 8,946 | |
NIKE Inc. Class B | 77,136 | 7,846 | |
* | Booking Holdings Inc. | 2,412 | 7,489 |
Starbucks Corp. | 73,322 | 7,145 | |
TJX Cos. Inc. | 74,946 | 6,931 | |
* | Uber Technologies Inc. | 125,928 | 5,948 |
Activision Blizzard Inc. | 50,699 | 4,664 | |
Target Corp. | 29,908 | 3,785 | |
* | O'Reilly Automotive Inc. | 3,965 | 3,726 |
* | Airbnb Inc. Class A | 26,337 | 3,465 |
* | Chipotle Mexican Grill Inc. | 1,782 | 3,433 |
Marriott International Inc. Class A | 16,373 | 3,332 | |
Ford Motor Co. | 255,197 | 3,096 | |
* | AutoZone Inc. | 1,193 | 3,020 |
General Motors Co. | 90,037 | 3,017 | |
* | Lululemon Athletica Inc. | 7,224 | 2,754 |
Ross Stores Inc. | 21,842 | 2,661 | |
* | Copart Inc. | 55,677 | 2,496 |
Hilton Worldwide Holdings Inc. | 16,774 | 2,493 | |
DR Horton Inc. | 20,202 | 2,404 | |
Estee Lauder Cos. Inc. Class A | 14,977 | 2,404 | |
Yum! Brands Inc. | 18,152 | 2,349 | |
* | Trade Desk Inc. Class A | 28,664 | 2,294 |
Electronic Arts Inc. | 17,742 | 2,129 | |
Dollar General Corp. | 14,275 | 1,977 | |
Lennar Corp. Class A | 16,065 | 1,913 | |
* | Warner Bros Discovery Inc. | 143,627 | 1,887 |
* | Aptiv plc | 17,667 | 1,792 |
Delta Air Lines Inc. | 41,763 | 1,791 | |
* | Dollar Tree Inc. | 13,615 | 1,666 |
eBay Inc. | 34,881 | 1,562 | |
Tractor Supply Co. | 7,149 | 1,562 | |
* | Take-Two Interactive Software Inc. | 10,750 | 1,529 |
* | Royal Caribbean Cruises Ltd. | 15,258 | 1,510 |
Genuine Parts Co. | 9,373 | 1,441 | |
* | Spotify Technology SA | 9,164 | 1,411 |
* | Ulta Beauty Inc. | 3,262 | 1,354 |
* | Coupang Inc. | 70,774 | 1,343 |
Darden Restaurants Inc. | 7,854 | 1,221 |
Shares | Market Value• ($000) | ||
Southwest Airlines Co. | 38,580 | 1,219 | |
* | NVR Inc. | 191 | 1,218 |
PulteGroup Inc. | 14,467 | 1,187 | |
Las Vegas Sands Corp. | 21,409 | 1,175 | |
* | United Airlines Holdings Inc. | 21,296 | 1,061 |
Garmin Ltd. | 9,958 | 1,056 | |
* | Carnival Corp. | 65,945 | 1,043 |
Omnicom Group Inc. | 12,862 | 1,042 | |
* | Expedia Group Inc. | 9,348 | 1,013 |
* | Liberty Media Corp.-Liberty Formula One Class C | 14,268 | 982 |
Best Buy Co. Inc. | 12,720 | 972 | |
LKQ Corp. | 17,389 | 913 | |
* | Deckers Outdoor Corp. | 1,706 | 903 |
Pool Corp. | 2,450 | 896 | |
Domino's Pizza Inc. | 2,293 | 888 | |
MGM Resorts International | 19,669 | 865 | |
* | Live Nation Entertainment Inc. | 10,215 | 863 |
* | Roblox Corp. Class A | 29,983 | 848 |
* | CarMax Inc. | 10,189 | 832 |
Interpublic Group of Cos. Inc. | 24,899 | 812 | |
* | DraftKings Inc. Class A | 27,402 | 812 |
* | Rivian Automotive Inc. Class A | 33,230 | 755 |
* | Caesars Entertainment Inc. | 13,315 | 736 |
RB Global Inc. | 11,850 | 731 | |
Wynn Resorts Ltd. | 6,792 | 689 | |
* | Burlington Stores Inc. | 4,238 | 688 |
* | Floor & Decor Holdings Inc. Class A | 6,849 | 683 |
Fox Corp. Class A | 19,456 | 643 | |
* | American Airlines Group Inc. | 42,389 | 624 |
BorgWarner Inc. (XNYS) | 15,270 | 622 | |
* | Five Below Inc. | 3,609 | 621 |
Hasbro Inc. | 8,612 | 620 | |
Service Corp. International | 9,754 | 616 | |
Williams-Sonoma Inc. | 4,270 | 603 | |
Toll Brothers Inc. | 7,265 | 595 | |
* | Etsy Inc. | 8,073 | 594 |
Vail Resorts Inc. | 2,625 | 594 | |
Aramark | 15,910 | 592 | |
* | BJ's Wholesale Club Holdings Inc. | 8,706 | 587 |
Churchill Downs Inc. | 4,602 | 577 | |
Rollins Inc. | 14,185 | 561 | |
Lear Corp. | 3,813 | 549 | |
News Corp. Class A | 25,435 | 547 | |
Bath & Body Works Inc. | 14,697 | 542 | |
Lithia Motors Inc. | 1,731 | 533 | |
Tapestry Inc. | 15,445 | 515 | |
Gentex Corp. | 15,428 | 504 | |
Paramount Global Inc. Class B | 33,367 | 504 | |
* | SiteOne Landscape Supply Inc. | 2,930 | 502 |
* | Mattel Inc. | 22,504 | 499 |
Tempur Sealy International Inc. | 10,672 | 499 | |
* | Norwegian Cruise Line Holdings Ltd. | 28,909 | 479 |
Whirlpool Corp. | 3,406 | 477 | |
New York Times Co. Class A | 10,482 | 464 | |
Dick's Sporting Goods Inc. | 3,946 | 459 | |
* | Skechers USA Inc. Class A | 9,048 | 455 |
* | Light & Wonder Inc. | 5,804 | 445 |
Texas Roadhouse Inc. | 4,277 | 445 |
Shares | Market Value• ($000) | ||
* | elf Beauty Inc. | 3,202 | 444 |
VF Corp. | 22,358 | 442 | |
* | Capri Holdings Ltd. | 8,329 | 437 |
Wyndham Hotels & Resorts Inc. | 5,381 | 406 | |
Murphy USA Inc. | 1,264 | 402 | |
H&R Block Inc. | 9,753 | 390 | |
Polaris Inc. | 3,443 | 386 | |
* | RH | 1,043 | 381 |
* | Crocs Inc. | 3,869 | 377 |
* | Wayfair Inc. Class A | 5,250 | 363 |
Nexstar Media Group Inc. | 2,191 | 357 | |
* | Taylor Morrison Home Corp. | 7,424 | 352 |
* | Bright Horizons Family Solutions Inc. | 3,684 | 348 |
Thor Industries Inc. | 3,283 | 344 | |
* | Alaska Air Group Inc. | 7,961 | 334 |
Hyatt Hotels Corp. Class A | 2,975 | 334 | |
PVH Corp. | 3,957 | 331 | |
* | Planet Fitness Inc. Class A | 5,444 | 331 |
Meritage Homes Corp. | 2,324 | 323 | |
* | GameStop Corp. Class A | 17,200 | 319 |
* | Asbury Automotive Group Inc. | 1,380 | 317 |
Boyd Gaming Corp. | 4,712 | 315 | |
* | Ollie's Bargain Outlet Holdings Inc. | 3,993 | 308 |
* | AutoNation Inc. | 1,954 | 307 |
Wingstop Inc. | 1,913 | 307 | |
* | Carvana Co. | 6,082 | 306 |
Ralph Lauren Corp. | 2,598 | 303 | |
* | Fox Factory Holding Corp. | 2,705 | 300 |
U-Haul Holding Co. | 5,637 | 300 | |
* | Lucid Group Inc. | 47,507 | 298 |
Harley-Davidson Inc. | 8,359 | 282 | |
* | Coty Inc. Class A | 24,201 | 280 |
* | Avis Budget Group Inc. | 1,306 | 279 |
* | YETI Holdings Inc. | 5,517 | 276 |
* | Duolingo Inc. | 1,815 | 267 |
World Wrestling Entertainment Inc. Class A | 2,759 | 266 | |
Advance Auto Parts Inc. | 3,792 | 261 | |
Academy Sports & Outdoors Inc. | 4,710 | 257 | |
Newell Brands Inc. | 24,097 | 255 | |
Marriott Vacations Worldwide Corp. | 2,340 | 254 | |
Fox Corp. Class B | 8,209 | 251 | |
* | Liberty Media Corp. - Liberty SiriusXM Class C | 10,189 | 249 |
Choice Hotels International Inc. | 1,946 | 247 | |
* | Visteon Corp. | 1,776 | 247 |
* | Skyline Champion Corp. | 3,397 | 242 |
KB Home | 4,722 | 240 | |
Leggett & Platt Inc. | 8,507 | 240 | |
* | Adient plc | 6,050 | 237 |
Group 1 Automotive Inc. | 890 | 235 | |
* | Penn Entertainment Inc. | 9,902 | 235 |
TEGNA Inc. | 14,186 | 235 | |
* | Goodyear Tire & Rubber Co. | 17,879 | 231 |
* | Grand Canyon Education Inc. | 1,968 | 231 |
* | Lyft Inc. Class A | 19,639 | 231 |
* | Hilton Grand Vacations Inc. | 5,185 | 227 |
International Game Technology plc | 6,817 | 218 | |
Wendy's Co. | 10,934 | 216 |
Shares | Market Value• ($000) | ||
Signet Jewelers Ltd. | 2,854 | 214 | |
Penske Automotive Group Inc. | 1,295 | 213 | |
Madison Square Garden Sports Corp. | 1,193 | 212 | |
Macy's Inc. | 17,268 | 211 | |
LCI Industries | 1,583 | 198 | |
* | Tri Pointe Homes Inc. | 6,347 | 197 |
American Eagle Outfitters Inc. | 11,522 | 195 | |
Travel & Leisure Co. | 4,792 | 193 | |
Kohl's Corp. | 7,002 | 187 | |
* | Helen of Troy Ltd. | 1,518 | 187 |
Carter's Inc. | 2,596 | 186 | |
1 | Sirius XM Holdings Inc. | 41,241 | 181 |
MDC Holdings Inc. | 3,723 | 177 | |
* | Frontdoor Inc. | 5,281 | 173 |
* | Boot Barn Holdings Inc. | 1,877 | 172 |
Rush Enterprises Inc. Class A | 4,122 | 171 | |
Steven Madden Ltd. | 4,895 | 169 | |
Columbia Sportswear Co. | 2,288 | 168 | |
* | M/I Homes Inc. | 1,716 | 168 |
* | Shake Shack Inc. Class A | 2,388 | 167 |
Papa John's International Inc. | 2,190 | 166 | |
* | Abercrombie & Fitch Co. Class A | 3,071 | 165 |
Kontoor Brands Inc. | 3,548 | 162 | |
Inter Parfums Inc. | 1,150 | 161 | |
* | LGI Homes Inc. | 1,310 | 161 |
Bloomin' Brands Inc. | 5,582 | 157 | |
* | Cavco Industries Inc. | 557 | 156 |
News Corp. Class B | 7,106 | 156 | |
* | Topgolf Callaway Brands Corp. | 8,885 | 155 |
* | Hertz Global Holdings Inc. | 8,664 | 147 |
Gap Inc. | 12,418 | 144 | |
* | Coursera Inc. | 8,195 | 143 |
* | SkyWest Inc. | 3,144 | 142 |
* | Dorman Products Inc. | 1,681 | 139 |
Graham Holdings Co. Class B | 231 | 135 | |
* | Urban Outfitters Inc. | 4,053 | 135 |
* | ACV Auctions Inc. Class A | 8,059 | 135 |
Century Communities Inc. | 1,801 | 134 | |
Red Rock Resorts Inc. Class A | 3,047 | 134 | |
* | QuantumScape Corp. | 18,771 | 134 |
Dana Inc. | 8,169 | 132 | |
PriceSmart Inc. | 1,631 | 130 | |
* | Gentherm Inc. | 2,100 | 126 |
* | Peloton Interactive Inc. Class A | 19,728 | 126 |
* | Adtalem Global Education Inc. | 2,852 | 125 |
* | JetBlue Airways Corp. | 21,076 | 125 |
* | Atlanta Braves Holdings Inc. Class C | 3,406 | 125 |
* | SeaWorld Entertainment Inc. | 2,533 | 123 |
Winnebago Industries Inc. | 1,880 | 122 | |
* | XPEL Inc. | 1,444 | 120 |
Laureate Education Inc. | 8,469 | 118 | |
Cracker Barrel Old Country Store Inc. | 1,411 | 116 | |
Hanesbrands Inc. | 22,152 | 116 | |
Nordstrom Inc. | 7,153 | 116 | |
Acushnet Holdings Corp. | 1,958 | 115 | |
Spirit Airlines Inc. | 6,845 | 113 | |
* | Cinemark Holdings Inc. | 6,891 | 112 |
Shares | Market Value• ($000) | ||
* | Sonos Inc. | 8,116 | 112 |
* | Stride Inc. | 2,646 | 112 |
Strategic Education Inc. | 1,418 | 110 | |
* | ODP Corp. | 2,195 | 108 |
* | Dave & Buster's Entertainment Inc. | 2,718 | 107 |
* | OPENLANE Inc. | 6,883 | 107 |
Jack in the Box Inc. | 1,316 | 106 | |
Upbound Group Inc. | 3,455 | 106 | |
* | TripAdvisor Inc. | 7,016 | 106 |
* | Under Armour Inc. Class C | 15,233 | 105 |
* | Liberty Media Corp.-Liberty Live Class C | 3,129 | 105 |
* | Six Flags Entertainment Corp. | 4,492 | 103 |
* | Liberty Media Corp.-Liberty SiriusXM Class A | 4,296 | 103 |
Lennar Corp. Class B | 953 | 102 | |
* | Sabre Corp. | 20,318 | 102 |
* | Vista Outdoor Inc. | 3,502 | 102 |
Foot Locker Inc. | 5,129 | 101 | |
* | PROG Holdings Inc. | 2,939 | 101 |
* | Luminar Technologies Inc. | 17,288 | 100 |
John Wiley & Sons Inc. Class A | 2,677 | 99 | |
* | Victoria's Secret & Co. | 5,164 | 99 |
Cheesecake Factory Inc. | 3,058 | 97 | |
HNI Corp. | 2,898 | 95 | |
Oxford Industries Inc. | 945 | 95 | |
La-Z-Boy Inc. | 3,061 | 94 | |
* | Under Armour Inc. Class A | 12,274 | 94 |
MillerKnoll Inc. | 4,787 | 91 | |
* | National Vision Holdings Inc. | 4,947 | 91 |
* | Brinker International Inc. | 2,754 | 90 |
* | Knowles Corp. | 5,583 | 90 |
Allegiant Travel Co. | 989 | 88 | |
* | Sweetgreen Inc. Class A | 6,162 | 88 |
* | Madison Square Garden Entertainment Corp. | 2,710 | 87 |
* | Central Garden & Pet Co. | 1,915 | 85 |
* | Green Brick Partners Inc. | 1,726 | 85 |
Perdoceo Education Corp. | 5,004 | 83 | |
* | Phinia Inc. | 2,936 | 82 |
* | Chegg Inc. | 7,864 | 80 |
Dillard's Inc. Class A | 231 | 80 | |
Scholastic Corp. | 1,844 | 80 | |
Winmark Corp. | 209 | 80 | |
Matthews International Corp. Class A | 1,878 | 79 | |
* | Cars.com Inc. | 4,159 | 78 |
* | Everi Holdings Inc. | 5,418 | 78 |
* | PowerSchool Holdings Inc. Class A | 3,510 | 78 |
Krispy Kreme Inc. | 5,425 | 73 | |
*,1 | Fisker Inc. | 12,295 | 72 |
* | Leslie's Inc. | 11,140 | 70 |
* | Overstock.com Inc. | 2,653 | 69 |
Buckle Inc. | 1,868 | 68 | |
1 | Paramount Global Class A | 3,635 | 67 |
Camping World Holdings Inc. Class A | 2,682 | 66 | |
* | Sally Beauty Holdings Inc. | 6,469 | 66 |
* | iRobot Corp. | 1,669 | 65 |
Monro Inc. | 1,947 | 64 | |
* | Malibu Boats Inc. Class A | 1,277 | 62 |
Caleres Inc. | 2,092 | 60 | |
* | Driven Brands Holdings Inc. | 3,968 | 60 |
Shares | Market Value• ($000) | ||
Monarch Casino & Resort Inc. | 825 | 56 | |
Sonic Automotive Inc. Class A | 1,051 | 56 | |
* | Beazer Homes USA Inc. | 1,865 | 55 |
Ethan Allen Interiors Inc. | 1,741 | 55 | |
Sturm Ruger & Co. Inc. | 1,073 | 55 | |
* | Sphere Entertainment Co. | 1,561 | 55 |
* | Udemy Inc. | 5,336 | 55 |
* | American Axle & Manufacturing Holdings Inc. | 7,120 | 54 |
Dine Brands Global Inc. | 989 | 54 | |
* | Arlo Technologies Inc. | 5,452 | 53 |
Steelcase Inc. Class A | 5,828 | 53 | |
* | G-III Apparel Group Ltd. | 2,639 | 52 |
* | Imax Corp. | 2,705 | 52 |
* | OneSpaWorld Holdings Ltd. | 4,537 | 52 |
* | Lions Gate Entertainment Corp. Class B | 6,884 | 51 |
* | Figs Inc. Class A | 8,046 | 50 |
* | Central Garden & Pet Co. Class A | 1,182 | 48 |
* | Portillo's Inc. Class A | 2,628 | 48 |
*,1 | AMC Entertainment Holdings Inc. Class A | 3,775 | 47 |
* | Clean Energy Fuels Corp. | 10,556 | 45 |
Golden Entertainment Inc. | 1,236 | 45 | |
Standard Motor Products Inc. | 1,219 | 45 | |
* | Life Time Group Holdings Inc. | 2,633 | 45 |
* | Cardlytics Inc. | 2,612 | 44 |
* | Chuy's Holdings Inc. | 1,161 | 44 |
*,1 | Dream Finders Homes Inc. Class A | 1,493 | 43 |
* | Chico's FAS Inc. | 8,104 | 42 |
Gray Television Inc. | 5,071 | 41 | |
* | BJ's Restaurants Inc. | 1,354 | 40 |
Guess? Inc. | 1,671 | 40 | |
* | MarineMax Inc. | 1,205 | 40 |
* | Corsair Gaming Inc. | 2,541 | 40 |
* | America's Car-Mart Inc. | 351 | 39 |
Hibbett Inc. | 833 | 39 | |
Interface Inc. | 3,745 | 39 | |
Wolverine World Wide Inc. | 4,831 | 39 | |
A-Mark Precious Metals Inc. | 1,154 | 39 | |
Rush Enterprises Inc. Class B | 836 | 38 | |
* | Accel Entertainment Inc. | 3,218 | 38 |
Arko Corp. | 5,043 | 38 | |
* | QuinStreet Inc. | 3,737 | 37 |
Smith & Wesson Brands Inc. | 3,140 | 37 | |
* | Stagwell Inc. | 6,726 | 37 |
*,1 | European Wax Center Inc. Class A | 2,107 | 37 |
* | Rover Group Inc. | 5,537 | 37 |
* | Hovnanian Enterprises Inc. Class A | 303 | 36 |
RCI Hospitality Holdings Inc. | 554 | 36 | |
* | Revolve Group Inc. | 2,425 | 36 |
* | Sleep Number Corp. | 1,417 | 36 |
* | Thryv Holdings Inc. | 1,768 | 36 |
* | Sun Country Airlines Holdings Inc. | 2,384 | 36 |
* | Kura Sushi USA Inc. Class A | 395 | 35 |
* | Bally's Corp. | 2,084 | 35 |
* | Instructure Holdings Inc. | 1,365 | 35 |
* | Liberty Media Corp.-Liberty Live Class A | 1,058 | 35 |
* | Viad Corp. | 1,184 | 34 |
Shares | Market Value• ($000) | ||
* | Integral Ad Science Holding Corp. | 2,387 | 34 |
* | Denny's Corp. | 3,480 | 33 |
* | Liquidity Services Inc. | 1,795 | 33 |
* | Xponential Fitness Inc. Class A | 1,539 | 33 |
* | WW International Inc. | 3,267 | 32 |
* | Gannett Co. Inc. | 10,957 | 32 |
* | Super Group SGHC Ltd. | 8,455 | 32 |
Carriage Services Inc. | 1,004 | 31 | |
* | Clear Channel Outdoor Holdings Inc. | 21,594 | 31 |
* | Mister Car Wash Inc. | 4,327 | 31 |
Designer Brands Inc. Class A | 2,901 | 30 | |
* | GoPro Inc. Class A | 8,192 | 30 |
* | Lions Gate Entertainment Corp. Class A | 3,818 | 30 |
* | Stoneridge Inc. | 1,456 | 30 |
Global Industrial Co. | 894 | 30 | |
* | Daily Journal Corp. | 99 | 29 |
* | Boston Omaha Corp. Class A | 1,587 | 28 |
Haverty Furniture Cos. Inc. | 893 | 28 | |
Marcus Corp. | 1,834 | 28 | |
Cricut Inc. Class A | 2,993 | 28 | |
Sinclair Inc. | 2,213 | 28 | |
* | Hawaiian Holdings Inc. | 3,192 | 27 |
* | Stitch Fix Inc. Class A | 6,173 | 27 |
* | Vizio Holding Corp. Class A | 4,695 | 27 |
* | EW Scripps Co. Class A | 3,464 | 26 |
Shoe Carnival Inc. | 1,121 | 26 | |
Bluegreen Vacations Holding Corp. | 712 | 26 | |
* | Genesco Inc. | 731 | 25 |
Movado Group Inc. | 932 | 25 | |
* | Petco Health & Wellness Co. Inc. | 4,881 | 25 |
* | MasterCraft Boat Holdings Inc. | 1,121 | 24 |
Johnson Outdoors Inc. Class A | 413 | 23 | |
* | Quotient Technology Inc. | 5,787 | 23 |
* | Zumiez Inc. | 1,236 | 23 |
* | iHeartMedia Inc. Class A | 6,426 | 23 |
Aaron's Co. Inc. | 1,892 | 23 | |
* | Rush Street Interactive Inc. | 5,041 | 23 |
* | First Watch Restaurant Group Inc. | 1,216 | 23 |
* | OneWater Marine Inc. Class A | 854 | 22 |
* | Inspired Entertainment Inc. | 1,641 | 22 |
* | Lovesac Co. | 911 | 21 |
* | AMC Networks Inc. Class A | 1,777 | 21 |
Build-A-Bear Workshop Inc. | 765 | 20 | |
* | Holley Inc. | 3,560 | 20 |
Entravision Communications Corp. Class A | 4,868 | 19 | |
* | Lindblad Expeditions Holdings Inc. | 2,047 | 19 |
* | Children's Place Inc. | 692 | 18 |
* | Legacy Housing Corp. | 798 | 18 |
* | CarParts.com Inc. | 3,721 | 18 |
* | Outbrain Inc. | 3,144 | 18 |
*,1 | Playstudios Inc. | 5,032 | 18 |
* | Bowlero Corp. | 1,639 | 18 |
* | Mondee Holdings Inc. | 2,844 | 18 |
* | Carrols Restaurant Group Inc. | 2,303 | 16 |
Shares | Market Value• ($000) | ||
* | Cooper-Standard Holdings Inc. | 1,054 | 16 |
El Pollo Loco Holdings Inc. | 1,665 | 16 | |
* | PlayAGS Inc. | 2,270 | 16 |
* | Universal Technical Institute Inc. | 1,991 | 16 |
* | AMMO Inc. | 6,813 | 16 |
* | Nerdy Inc. | 3,366 | 16 |
* | SES AI Corp. | 7,730 | 16 |
* | Century Casinos Inc. | 2,301 | 15 |
Clarus Corp. | 2,124 | 15 | |
* | Sportsman's Warehouse Holdings Inc. | 3,203 | 15 |
* | Destination XL Group Inc. | 3,357 | 15 |
* | Playtika Holding Corp. | 1,583 | 15 |
* | Eastman Kodak Co. | 3,188 | 14 |
* | Funko Inc. Class A | 2,050 | 14 |
* | 2U Inc. | 4,423 | 14 |
Alta Equipment Group Inc. | 960 | 14 | |
* | ThredUP Inc. Class A | 3,501 | 14 |
* | Frontier Group Holdings Inc. | 2,210 | 14 |
* | Traeger Inc. | 3,150 | 14 |
Hooker Furnishings Corp. | 597 | 13 | |
* | Potbelly Corp. | 1,596 | 13 |
* | Vuzix Corp. | 3,223 | 13 |
* | Blink Charging Co. | 3,333 | 13 |
* | ONE Group Hospitality Inc. | 1,914 | 13 |
* | 1-800-Flowers.com Inc. Class A | 1,608 | 12 |
* | Lincoln Educational Services Corp. | 1,410 | 12 |
1 | U-Haul Holding Co. (XNYS) | 195 | 11 |
* | Tile Shop Holdings Inc. | 1,892 | 11 |
* | Vera Bradley Inc. | 1,521 | 11 |
Climb Global Solutions Inc. | 252 | 11 | |
Nathan's Famous Inc. | 158 | 11 | |
1 | Big Lots Inc. | 1,538 | 10 |
* | Red Robin Gourmet Burgers Inc. | 989 | 10 |
* | Tilly's Inc. Class A | 1,108 | 10 |
Purple Innovation Inc. | 4,588 | 10 | |
* | BARK Inc. | 6,166 | 10 |
* | Snap One Holdings Corp. | 1,146 | 10 |
* | Allbirds Inc. Class A | 7,898 | 10 |
1 | Big 5 Sporting Goods Corp. | 1,099 | 9 |
Escalade Inc. | 574 | 9 | |
* | Lazydays Holdings Inc. | 759 | 9 |
* | Latham Group Inc. | 2,536 | 9 |
* | JAKKS Pacific Inc. | 432 | 9 |
* | ContextLogic Inc. Class A | 1,765 | 9 |
Cato Corp. Class A | 1,059 | 8 | |
* | Fiesta Restaurant Group Inc. | 999 | 8 |
Weyco Group Inc. | 309 | 8 | |
* | Selectquote Inc. | 6,723 | 8 |
* | Full House Resorts Inc. | 1,743 | 8 |
* | J Jill Inc. | 326 | 8 |
* | Gambling.com Group Ltd. | 588 | 8 |
* | Biglari Holdings Inc. Class B | 37 | 7 |
* | Turtle Beach Corp. | 677 | 7 |
* | Urban One Inc. | 1,235 | 7 |
* | VOXX International Corp. | 839 | 7 |
Townsquare Media Inc. Class A | 703 | 7 | |
* | Livewire Group Inc. | 653 | 7 |
Rocky Brands Inc. | 352 | 6 | |
* | Emerald Holding Inc. | 1,517 | 6 |
* | Landsea Homes Corp. | 645 | 6 |
Shares | Market Value• ($000) | ||
* | Reservoir Media Inc. | 1,024 | 6 |
* | Duluth Holdings Inc. Class B | 760 | 5 |
* | Lands' End Inc. | 694 | 5 |
* | Noodles & Co. | 1,842 | 5 |
Marine Products Corp. | 357 | 5 | |
* | Solo Brands Inc. Class A | 936 | 5 |
* | United Homes Group Inc. | 629 | 5 |
* | Cava Group Inc. | 59 | 3 |
* | Savers Value Village Inc. | 129 | 3 |
* | Loop Media Inc. | 2,276 | 2 |
* | Torrid Holdings Inc. | 617 | 1 |
414,237 | |||
Consumer Staples (5.0%) | |||
Procter & Gamble Co. | 152,600 | 23,552 | |
PepsiCo Inc. | 89,150 | 15,862 | |
Coca-Cola Co. | 252,007 | 15,078 | |
Philip Morris International Inc. | 100,679 | 9,671 | |
Mondelez International Inc. Class A | 88,157 | 6,282 | |
CVS Health Corp. | 83,095 | 5,415 | |
Altria Group Inc. | 116,217 | 5,139 | |
Colgate-Palmolive Co. | 53,230 | 3,911 | |
McKesson Corp. | 8,916 | 3,676 | |
Kimberly-Clark Corp. | 21,845 | 2,814 | |
Archer-Daniels-Midland Co. | 35,229 | 2,794 | |
* | Monster Beverage Corp. | 48,530 | 2,786 |
Constellation Brands Inc. Class A | 10,060 | 2,621 | |
General Mills Inc. | 38,097 | 2,578 | |
Corteva Inc. | 46,382 | 2,343 | |
Kenvue Inc. | 99,430 | 2,292 | |
Sysco Corp. | 32,883 | 2,290 | |
Keurig Dr Pepper Inc. | 61,989 | 2,086 | |
Hershey Co. | 9,526 | 2,047 | |
Kroger Co. | 42,302 | 1,962 | |
Cencora Inc. | 10,589 | 1,863 | |
Kraft Heinz Co. | 51,918 | 1,718 | |
Church & Dwight Co. Inc. | 16,203 | 1,568 | |
McCormick & Co. Inc. | 16,433 | 1,349 | |
Clorox Co. | 8,101 | 1,267 | |
Walgreens Boots Alliance Inc. | 47,087 | 1,192 | |
Bunge Ltd. | 9,739 | 1,113 | |
Kellogg Co. | 16,984 | 1,036 | |
Tyson Foods Inc. Class A | 18,162 | 968 | |
J M Smucker Co. | 6,651 | 964 | |
Conagra Brands Inc. | 31,080 | 929 | |
Lamb Weston Holdings Inc. | 9,421 | 918 | |
Brown-Forman Corp. Class B | 13,062 | 864 | |
Hormel Foods Corp. | 19,052 | 735 | |
Molson Coors Beverage Co. Class B | 11,565 | 734 | |
* | Celsius Holdings Inc. | 3,491 | 684 |
* | Darling Ingredients Inc. | 10,377 | 641 |
* | Performance Food Group Co. | 9,984 | 620 |
Albertsons Cos. Inc. Class A | 27,027 | 605 | |
* | US Foods Holding Corp. | 14,804 | 599 |
Casey's General Stores Inc. | 2,436 | 595 | |
Campbell Soup Co. | 12,358 | 515 | |
Ingredion Inc. | 4,339 | 447 | |
* | BellRing Brands Inc. | 8,557 | 355 |
* | Post Holdings Inc. | 3,446 | 309 |
Flowers Foods Inc. | 11,998 | 283 | |
* | Sprouts Farmers Market Inc. | 6,564 | 268 |
* | Hostess Brands Inc. | 8,508 | 242 |
* | Simply Good Foods Co. | 6,681 | 241 |
Shares | Market Value• ($000) | ||
* | Boston Beer Co. Inc. Class A | 605 | 221 |
* | Freshpet Inc. | 2,911 | 220 |
Spectrum Brands Holdings Inc. | 2,550 | 212 | |
Coca-Cola Consolidated Inc. | 300 | 210 | |
Lancaster Colony Corp. | 1,240 | 205 | |
WD-40 Co. | 871 | 187 | |
* | Grocery Outlet Holding Corp. | 6,035 | 186 |
Brown-Forman Corp. Class A | 2,491 | 168 | |
J & J Snack Foods Corp. | 970 | 157 | |
Energizer Holdings Inc. | 4,528 | 156 | |
Primo Water Corp. | 10,044 | 153 | |
* | TreeHouse Foods Inc. | 3,229 | 150 |
Edgewell Personal Care Co. | 3,295 | 127 | |
MGP Ingredients Inc. | 997 | 120 | |
Andersons Inc. | 2,241 | 115 | |
Cal-Maine Foods Inc. | 2,405 | 115 | |
Vector Group Ltd. | 9,144 | 98 | |
* | Herbalife Ltd. | 6,251 | 94 |
Reynolds Consumer Products Inc. | 3,451 | 94 | |
Universal Corp. | 1,623 | 77 | |
* | National Beverage Corp. | 1,482 | 76 |
* | United Natural Foods Inc. | 3,759 | 76 |
Nu Skin Enterprises Inc. Class A | 3,132 | 75 | |
Ingles Markets Inc. Class A | 909 | 71 | |
Utz Brands Inc. | 4,507 | 70 | |
* | Pilgrim's Pride Corp. | 2,605 | 66 |
Weis Markets Inc. | 1,024 | 66 | |
* | Chefs' Warehouse Inc. | 2,139 | 61 |
Seaboard Corp. | 16 | 60 | |
* | Hain Celestial Group Inc. | 5,570 | 59 |
Medifast Inc. | 693 | 58 | |
* | Sovos Brands Inc. | 2,538 | 57 |
B&G Foods Inc. | 4,387 | 56 | |
John B Sanfilippo & Son Inc. | 556 | 56 | |
Fresh Del Monte Produce Inc. | 2,124 | 54 | |
Dole plc | 4,440 | 53 | |
* | Vita Coco Co. Inc. | 1,706 | 48 |
*,1 | Beyond Meat Inc. | 3,829 | 45 |
SpartanNash Co. | 1,999 | 44 | |
* | USANA Health Sciences Inc. | 667 | 43 |
* | Duckhorn Portfolio Inc. | 3,128 | 39 |
Calavo Growers Inc. | 1,120 | 37 | |
* | Beauty Health Co. | 5,520 | 34 |
ACCO Brands Corp. | 5,861 | 31 | |
* | Mission Produce Inc. | 2,930 | 28 |
Turning Point Brands Inc. | 1,062 | 26 | |
* | SunOpta Inc. | 5,301 | 23 |
* | Vital Farms Inc. | 1,875 | 22 |
* | Olaplex Holdings Inc. | 8,126 | 22 |
Oil-Dri Corp. of America | 301 | 20 | |
PetMed Express Inc. | 1,610 | 18 | |
* | Westrock Coffee Co. | 1,786 | 18 |
Limoneira Co. | 1,084 | 17 | |
Village Super Market Inc. Class A | 770 | 17 | |
* | Seneca Foods Corp. Class A | 320 | 15 |
Alico Inc. | 633 | 15 | |
* | GrowGeneration Corp. | 4,609 | 15 |
* | Nature's Sunshine Products Inc. | 687 | 12 |
* | Brookfield Realty Capital Corp. Class A | 2,584 | 12 |
* | HF Foods Group Inc. | 2,064 | 10 |
Shares | Market Value• ($000) | ||
*,1 | Waldencast plc Class A | 1,232 | 10 |
*,1 | Benson Hill Inc. | 12,664 | 8 |
Natural Grocers by Vitamin Cottage Inc. | 575 | 7 | |
* | Forafric Global plc | 599 | 7 |
* | Zevia PBC Class A | 1,559 | 4 |
143,547 | |||
Energy (4.6%) | |||
Exxon Mobil Corp. | 263,742 | 29,325 | |
Chevron Corp. | 114,820 | 18,498 | |
ConocoPhillips | 78,864 | 9,387 | |
Schlumberger NV | 92,559 | 5,457 | |
EOG Resources Inc. | 38,132 | 4,905 | |
Marathon Petroleum Corp. | 28,602 | 4,084 | |
Pioneer Natural Resources Co. | 15,175 | 3,611 | |
Phillips 66 | 29,996 | 3,424 | |
Valero Energy Corp. | 23,350 | 3,033 | |
Occidental Petroleum Corp. | 45,262 | 2,842 | |
Hess Corp. | 18,330 | 2,832 | |
Williams Cos. Inc. | 79,047 | 2,729 | |
Cheniere Energy Inc. | 15,707 | 2,563 | |
Baker Hughes Co. | 65,891 | 2,385 | |
Halliburton Co. | 58,495 | 2,259 | |
Kinder Morgan Inc. | 127,024 | 2,187 | |
Devon Energy Corp. | 41,650 | 2,128 | |
ONEOK Inc. | 29,128 | 1,899 | |
Diamondback Energy Inc. | 11,846 | 1,798 | |
Coterra Energy Inc. | 49,308 | 1,390 | |
* | First Solar Inc. | 6,935 | 1,312 |
Targa Resources Corp. | 14,823 | 1,278 | |
* | Enphase Energy Inc. | 8,645 | 1,094 |
Marathon Oil Corp. | 40,146 | 1,058 | |
EQT Corp. | 23,372 | 1,010 | |
APA Corp. | 20,216 | 886 | |
Ovintiv Inc. (XNYS) | 15,764 | 740 | |
Chesapeake Energy Corp. | 8,221 | 725 | |
Texas Pacific Land Corp. | 377 | 711 | |
NOV Inc. | 25,937 | 548 | |
TechnipFMC plc | 28,718 | 547 | |
HF Sinclair Corp. | 9,211 | 507 | |
* | Antero Resources Corp. | 18,099 | 501 |
Range Resources Corp. | 15,322 | 496 | |
ChampionX Corp. | 13,636 | 492 | |
* | Southwestern Energy Co. | 71,626 | 486 |
Matador Resources Co. | 7,176 | 456 | |
Chord Energy Corp. | 2,740 | 443 | |
Murphy Oil Corp. | 9,399 | 427 | |
* | Weatherford International plc | 4,514 | 400 |
Civitas Resources Inc. | 4,418 | 363 | |
Noble Corp. plc | 6,796 | 358 | |
PBF Energy Inc. Class A | 7,389 | 346 | |
SM Energy Co. | 7,670 | 325 | |
DTE Midstream LLC | 6,190 | 324 | |
* | Denbury Inc. | 3,198 | 293 |
* | Valaris Ltd. | 3,884 | 293 |
Magnolia Oil & Gas Corp. Class A | 12,373 | 282 | |
*,1 | Plug Power Inc. | 33,254 | 281 |
Equitrans Midstream Corp. | 27,643 | 265 | |
Antero Midstream Corp. | 21,477 | 260 | |
California Resources Corp. | 4,588 | 256 | |
Helmerich & Payne Inc. | 6,386 | 255 | |
Arcosa Inc. | 3,097 | 242 | |
* | Array Technologies Inc. | 9,614 | 239 |
* | CNX Resources Corp. | 10,380 | 232 |
Permian Resources Corp. | 16,092 | 228 |
Shares | Market Value• ($000) | ||
Cactus Inc. Class A | 4,150 | 221 | |
* | Shoals Technologies Group Inc. Class A | 10,857 | 214 |
Northern Oil and Gas Inc. | 5,048 | 211 | |
* | Kosmos Energy Ltd. | 28,805 | 210 |
* | Tidewater Inc. | 2,980 | 194 |
CONSOL Energy Inc. | 2,194 | 189 | |
Patterson-UTI Energy Inc. | 13,092 | 185 | |
Liberty Energy Inc. | 11,562 | 184 | |
Peabody Energy Corp. | 7,868 | 170 | |
Alpha Metallurgical Resources Inc. | 823 | 167 | |
* | Seadrill Ltd. | 3,201 | 156 |
* | Callon Petroleum Co. | 3,862 | 152 |
Arch Resources Inc. | 1,157 | 151 | |
* | Oceaneering International Inc. | 6,346 | 145 |
Golar LNG Ltd. | 6,428 | 142 | |
Warrior Met Coal Inc. | 3,301 | 131 | |
* | NexTier Oilfield Solutions Inc. | 12,214 | 130 |
* | Expro Group Holdings NV | 5,490 | 129 |
Sitio Royalties Corp. Class A | 5,093 | 129 | |
*,1 | ChargePoint Holdings Inc. | 17,861 | 128 |
New Fortress Energy Inc. | 4,093 | 127 | |
Archrock Inc. | 9,598 | 123 | |
* | Talos Energy Inc. | 6,995 | 120 |
* | Par Pacific Holdings Inc. | 3,448 | 118 |
* | NEXTracker Inc. Class A | 2,740 | 115 |
* | Green Plains Inc. | 3,665 | 114 |
Delek US Holdings Inc. | 4,109 | 106 | |
* | Borr Drilling Ltd. | 14,480 | 101 |
* | Diamond Offshore Drilling Inc. | 6,422 | 95 |
* | Helix Energy Solutions Group Inc. | 8,957 | 91 |
* | Ameresco Inc. Class A | 2,005 | 87 |
World Kinect Corp. | 3,846 | 84 | |
* | NOW Inc. | 6,970 | 78 |
* | Gulfport Energy Corp. | 639 | 75 |
* | Earthstone Energy Inc. Class A | 3,614 | 74 |
* | Vital Energy Inc. | 1,214 | 73 |
Core Laboratories Inc. | 2,925 | 70 | |
Comstock Resources Inc. | 5,547 | 68 | |
* | Fluence Energy Inc. | 2,580 | 68 |
* | Nabors Industries Ltd. (XNYS) | 564 | 62 |
* | ProPetro Holding Corp. | 6,032 | 58 |
CVR Energy Inc. | 1,730 | 57 | |
* | Dril-Quip Inc. | 2,049 | 57 |
SunCoke Energy Inc. | 5,545 | 52 | |
* | TETRA Technologies Inc. | 9,139 | 50 |
* | MRC Global Inc. | 5,259 | 49 |
* | SilverBow Resources Inc. | 1,134 | 49 |
*,1 | Stem Inc. | 9,025 | 46 |
Select Water Solutions Inc. | 5,314 | 43 | |
RPC Inc. | 5,182 | 41 | |
* | REX American Resources Corp. | 1,037 | 41 |
* | SunPower Corp. | 5,687 | 41 |
Kinetik Holdings Inc. | 1,169 | 41 | |
* | Bristow Group Inc. | 1,474 | 41 |
* | Montauk Renewables Inc. | 4,337 | 41 |
Berry Corp. | 4,683 | 40 | |
*,1 | Tellurian Inc. | 33,460 | 37 |
Vitesse Energy Inc. | 1,609 | 37 |
Shares | Market Value• ($000) | ||
* | Centrus Energy Corp. Class A | 768 | 36 |
* | DMC Global Inc. | 1,489 | 36 |
SandRidge Energy Inc. | 2,266 | 36 | |
* | FuelCell Energy Inc. | 25,558 | 36 |
Crescent Energy Co. Class A | 2,405 | 33 | |
* | Oil States International Inc. | 4,101 | 32 |
* | Newpark Resources Inc. | 5,019 | 30 |
VAALCO Energy Inc. | 7,002 | 29 | |
* | Maxeon Solar Technologies Ltd. | 1,590 | 25 |
* | W&T Offshore Inc. | 5,569 | 23 |
Solaris Oilfield Infrastructure Inc. Class A | 1,951 | 21 | |
Atlas Energy Solutions Inc. Class A | 985 | 21 | |
* | EVgo Inc. | 5,085 | 20 |
*,1 | Solid Power Inc. | 9,314 | 20 |
* | Energy Vault Holdings Inc. | 6,124 | 20 |
* | Gevo Inc. | 14,728 | 19 |
Riley Exploration Permian Inc. | 553 | 19 | |
* | ProFrac Holding Corp. Class A | 1,689 | 19 |
Enviva Inc. | 1,918 | 18 | |
* | Ring Energy Inc. | 8,850 | 17 |
* | SEACOR Marine Holdings Inc. | 1,488 | 17 |
Evolution Petroleum Corp. | 1,919 | 16 | |
* | Amplify Energy Corp. | 2,289 | 15 |
* | Hallador Energy Co. | 1,420 | 15 |
* | Forum Energy Technologies Inc. | 602 | 14 |
* | TPI Composites Inc. | 2,617 | 13 |
* | NextDecade Corp. | 1,980 | 12 |
Granite Ridge Resources Inc. | 1,589 | 12 | |
Ranger Energy Services Inc. | 935 | 11 | |
Ramaco Resources Inc. Class A | 1,227 | 10 | |
1 | HighPeak Energy Inc. | 644 | 9 |
* | FTC Solar Inc. | 4,875 | 9 |
* | Empire Petroleum Corp. | 1,016 | 9 |
* | KLX Energy Services Holdings Inc. | 802 | 8 |
* | Mammoth Energy Services Inc. | 1,431 | 7 |
NACCO Industries Inc. Class A | 206 | 7 | |
* | PrimeEnergy Resources Corp. | 70 | 7 |
* | ESS Tech Inc. | 4,038 | 6 |
Ramaco Resources Inc. Class B | 387 | 4 | |
* | Kodiak Gas Services Inc. | 216 | 4 |
132,418 | |||
Financials (10.4%) | |||
* | Berkshire Hathaway Inc. Class B | 118,763 | 42,778 |
JPMorgan Chase & Co. | 189,680 | 27,756 | |
Bank of America Corp. | 451,654 | 12,949 | |
Wells Fargo & Co. | 245,177 | 10,123 | |
S&P Global Inc. | 20,838 | 8,145 | |
Goldman Sachs Group Inc. | 20,959 | 6,868 | |
BlackRock Inc. | 9,658 | 6,766 | |
Morgan Stanley | 78,050 | 6,646 | |
Marsh & McLennan Cos. Inc. | 32,035 | 6,247 | |
Charles Schwab Corp. | 96,194 | 5,690 |
Shares | Market Value• ($000) | ||
Chubb Ltd. | 26,794 | 5,382 | |
Citigroup Inc. | 126,040 | 5,204 | |
Progressive Corp. | 37,929 | 5,062 | |
Blackstone Inc. | 45,804 | 4,872 | |
CME Group Inc. | 23,326 | 4,728 | |
Aon plc Class A (XNYS) | 13,140 | 4,381 | |
Intercontinental Exchange Inc. | 35,860 | 4,231 | |
US Bancorp | 99,412 | 3,632 | |
Moody's Corp. | 10,311 | 3,473 | |
Arthur J Gallagher & Co. | 13,726 | 3,164 | |
PNC Financial Services Group Inc. | 25,760 | 3,110 | |
Apollo Global Management Inc. | 33,986 | 2,968 | |
Aflac Inc. | 39,091 | 2,915 | |
American International Group Inc. | 47,625 | 2,787 | |
MSCI Inc. | 5,041 | 2,740 | |
MetLife Inc. | 42,040 | 2,663 | |
KKR & Co. Inc. | 42,113 | 2,645 | |
Truist Financial Corp. | 86,025 | 2,628 | |
Travelers Cos. Inc. | 14,925 | 2,406 | |
Ameriprise Financial Inc. | 6,824 | 2,304 | |
Bank of New York Mellon Corp. | 51,207 | 2,298 | |
Prudential Financial Inc. | 23,856 | 2,258 | |
Allstate Corp. | 17,122 | 1,846 | |
* | Arch Capital Group Ltd. | 23,239 | 1,786 |
T Rowe Price Group Inc. | 14,318 | 1,607 | |
State Street Corp. | 21,707 | 1,492 | |
Discover Financial Services | 16,506 | 1,487 | |
Hartford Financial Services Group Inc. | 19,967 | 1,434 | |
Willis Towers Watson plc | 6,913 | 1,429 | |
Broadridge Financial Solutions Inc. | 7,617 | 1,418 | |
M&T Bank Corp. | 10,743 | 1,343 | |
Raymond James Financial Inc. | 12,729 | 1,331 | |
* | Markel Group Inc. | 852 | 1,260 |
Principal Financial Group Inc. | 16,185 | 1,258 | |
LPL Financial Holdings Inc. | 5,069 | 1,169 | |
Nasdaq Inc. | 22,182 | 1,164 | |
Fifth Third Bancorp | 43,747 | 1,161 | |
Brown & Brown Inc. | 15,431 | 1,143 | |
Regions Financial Corp. | 60,403 | 1,108 | |
Ares Management Corp. Class A | 10,580 | 1,094 | |
FactSet Research Systems Inc. | 2,501 | 1,091 | |
Cincinnati Financial Corp. | 9,998 | 1,058 | |
Huntington Bancshares Inc. | 93,055 | 1,032 | |
Cboe Global Markets Inc. | 6,818 | 1,021 | |
Northern Trust Corp. | 13,391 | 1,019 | |
Everest Group Ltd. | 2,748 | 991 | |
First Citizens BancShares Inc. Class A | 702 | 955 | |
Citizens Financial Group Inc. | 31,272 | 880 | |
* | Coinbase Global Inc. Class A | 10,843 | 863 |
W R Berkley Corp. | 13,846 | 857 | |
Loews Corp. | 12,109 | 752 | |
Equitable Holdings Inc. | 24,352 | 701 | |
KeyCorp | 61,017 | 691 | |
Fidelity National Financial Inc. | 16,639 | 689 | |
Annaly Capital Management Inc. | 32,202 | 653 | |
Globe Life Inc. | 5,804 | 648 |
Shares | Market Value• ($000) | ||
Tradeweb Markets Inc. Class A | 7,486 | 647 | |
Unum Group | 12,864 | 633 | |
Reinsurance Group of America Inc. | 4,335 | 601 | |
RenaissanceRe Holdings Ltd. | 3,149 | 592 | |
Interactive Brokers Group Inc. Class A | 6,487 | 591 | |
MarketAxess Holdings Inc. | 2,388 | 575 | |
New York Community Bancorp Inc. | 46,610 | 572 | |
Kinsale Capital Group Inc. | 1,399 | 558 | |
* | XP Inc. Class A | 21,743 | 551 |
American Financial Group Inc. | 4,694 | 544 | |
* | SoFi Technologies Inc. | 60,238 | 522 |
Webster Financial Corp. | 12,023 | 510 | |
East West Bancorp Inc. | 9,147 | 506 | |
Ally Financial Inc. | 17,841 | 494 | |
Franklin Resources Inc. | 18,264 | 488 | |
* | Robinhood Markets Inc. Class A | 43,810 | 477 |
Old Republic International Corp. | 17,420 | 476 | |
Assurant Inc. | 3,411 | 475 | |
Jefferies Financial Group Inc. | 13,110 | 468 | |
Primerica Inc. | 2,323 | 467 | |
Voya Financial Inc. | 6,510 | 454 | |
Carlyle Group Inc. | 13,732 | 444 | |
First Horizon Corp. | 35,026 | 440 | |
Stifel Financial Corp. | 6,560 | 427 | |
Comerica Inc. | 8,670 | 417 | |
SEI Investments Co. | 6,615 | 411 | |
First American Financial Corp. | 6,476 | 399 | |
Starwood Property Trust Inc. | 19,369 | 396 | |
Morningstar Inc. | 1,688 | 393 | |
Invesco Ltd. | 24,009 | 382 | |
Selective Insurance Group Inc. | 3,813 | 378 | |
Cullen/Frost Bankers Inc. | 3,879 | 367 | |
AGNC Investment Corp. | 36,883 | 366 | |
SouthState Corp. | 4,951 | 358 | |
Commerce Bancshares Inc. | 7,259 | 356 | |
MGIC Investment Corp. | 20,087 | 353 | |
RLI Corp. | 2,655 | 349 | |
Western Alliance Bancorp | 6,963 | 348 | |
Wintrust Financial Corp. | 4,463 | 346 | |
Blue Owl Capital Inc. | 28,385 | 339 | |
Essent Group Ltd. | 6,738 | 338 | |
Houlihan Lokey Inc. | 3,169 | 334 | |
Zions Bancorp NA | 9,319 | 331 | |
Rithm Capital Corp. | 31,667 | 326 | |
Evercore Inc. Class A | 2,287 | 320 | |
Pinnacle Financial Partners Inc. | 4,777 | 318 | |
Prosperity Bancshares Inc. | 5,576 | 317 | |
Popular Inc. | 4,535 | 310 | |
Affiliated Managers Group Inc. | 2,301 | 308 | |
OneMain Holdings Inc. | 7,193 | 299 | |
* | Ryan Specialty Holdings Inc. | 5,860 | 286 |
Synovus Financial Corp. | 9,213 | 285 | |
Old National Bancorp | 18,611 | 284 | |
Bank OZK | 7,020 | 282 | |
Lincoln National Corp. | 10,837 | 278 | |
American Equity Investment Life Holding Co. | 5,134 | 276 |
Shares | Market Value• ($000) | ||
Axis Capital Holdings Ltd. | 4,991 | 274 | |
Radian Group Inc. | 10,081 | 273 | |
Columbia Banking System Inc. | 13,221 | 271 | |
FNB Corp. | 22,749 | 265 | |
Home BancShares Inc. | 11,919 | 264 | |
Cadence Bank | 11,494 | 263 | |
Lazard Ltd. Class A | 7,518 | 261 | |
White Mountains Insurance Group Ltd. | 160 | 254 | |
Valley National Bancorp | 27,306 | 251 | |
United Bankshares Inc. | 8,264 | 249 | |
Blackstone Mortgage Trust Inc. Class A | 11,080 | 244 | |
* | Mr Cooper Group Inc. | 4,284 | 243 |
Hanover Insurance Group Inc. | 2,269 | 242 | |
Janus Henderson Group plc | 8,783 | 241 | |
First Financial Bankshares Inc. | 8,237 | 237 | |
Hancock Whitney Corp. | 5,479 | 226 | |
SLM Corp. | 15,431 | 220 | |
United Community Banks Inc. | 8,032 | 217 | |
Assured Guaranty Ltd. | 3,683 | 217 | |
FirstCash Holdings Inc. | 2,411 | 215 | |
Glacier Bancorp Inc. | 7,052 | 213 | |
Hamilton Lane Inc. Class A | 2,297 | 213 | |
* | Brighthouse Financial Inc. | 4,267 | 212 |
* | Credit Acceptance Corp. | 411 | 206 |
Moelis & Co. Class A | 4,217 | 200 | |
*,2 | Focus Financial Partners Inc. Class A | 3,730 | 198 |
Jackson Financial Inc. Class A | 5,140 | 193 | |
* | Texas Capital Bancshares Inc. | 3,077 | 192 |
Walker & Dunlop Inc. | 2,230 | 190 | |
* | Enstar Group Ltd. | 741 | 188 |
* | Genworth Financial Inc. Class A | 31,620 | 183 |
Kemper Corp. | 3,866 | 182 | |
Arbor Realty Trust Inc. | 11,334 | 181 | |
ServisFirst Bancshares Inc. | 3,178 | 178 | |
UMB Financial Corp. | 2,799 | 177 | |
CNO Financial Group Inc. | 7,304 | 171 | |
Ameris Bancorp | 4,182 | 170 | |
Corebridge Financial Inc. | 9,335 | 166 | |
Piper Sandler Cos. | 1,108 | 165 | |
Associated Banc-Corp. | 9,464 | 164 | |
Community Bank System Inc. | 3,377 | 161 | |
First BanCorp (XNYS) | 11,449 | 159 | |
Simmons First National Corp. Class A | 8,921 | 159 | |
* | Axos Financial Inc. | 3,651 | 157 |
Cathay General Bancorp | 4,415 | 157 | |
Independent Bank Corp. (XNGS) | 2,888 | 156 | |
First Hawaiian Inc. | 8,130 | 154 | |
BOK Financial Corp. | 1,838 | 153 | |
WSFS Financial Corp. | 3,887 | 153 | |
International Bancshares Corp. | 3,405 | 152 | |
* | NMI Holdings Inc. Class A | 5,252 | 150 |
Artisan Partners Asset Management Inc. Class A | 3,847 | 148 | |
CVB Financial Corp. | 8,412 | 147 | |
* | Upstart Holdings Inc. | 4,525 | 146 |
Shares | Market Value• ($000) | ||
Atlantic Union Bankshares Corp. | 4,739 | 141 | |
Fulton Financial Corp. | 10,405 | 139 | |
First Interstate BancSystem Inc. Class A | 5,316 | 138 | |
Bank of Hawaii Corp. | 2,528 | 136 | |
Pacific Premier Bancorp Inc. | 5,895 | 136 | |
* | Marathon Digital Holdings Inc. | 10,672 | 134 |
BancFirst Corp. | 1,369 | 131 | |
Eastern Bankshares Inc. | 9,712 | 131 | |
* | Bancorp Inc. | 3,469 | 127 |
BankUnited Inc. | 4,793 | 126 | |
First Financial Bancorp | 5,909 | 123 | |
Seacoast Banking Corp. of Florida | 5,189 | 123 | |
PJT Partners Inc. Class A | 1,506 | 119 | |
PennyMac Financial Services Inc. | 1,599 | 115 | |
* | Riot Platforms Inc. | 10,098 | 115 |
TPG Inc. | 4,029 | 113 | |
NBT Bancorp Inc. | 3,223 | 111 | |
Washington Federal Inc. | 4,087 | 111 | |
Ready Capital Corp. | 9,945 | 109 | |
First Merchants Corp. | 3,608 | 108 | |
Cohen & Steers Inc. | 1,631 | 106 | |
Virtu Financial Inc. Class A | 5,639 | 106 | |
StepStone Group Inc. Class A | 3,436 | 106 | |
Ladder Capital Corp. | 9,588 | 105 | |
* | StoneX Group Inc. | 1,116 | 105 |
Navient Corp. | 5,905 | 104 | |
Northwest Bancshares Inc. | 9,243 | 102 | |
Towne Bank | 4,337 | 102 | |
* | BRP Group Inc. Class A | 3,818 | 102 |
Apollo Commercial Real Estate Finance Inc. | 9,052 | 99 | |
* | Enova International Inc. | 1,972 | 99 |
BGC Group Inc. Class A | 19,964 | 99 | |
Federal Agricultural Mortgage Corp. Class C | 577 | 97 | |
Renasant Corp. | 3,456 | 96 | |
Banner Corp. | 2,157 | 94 | |
* | Goosehead Insurance Inc. Class A | 1,348 | 94 |
Independent Bank Group Inc. | 2,236 | 94 | |
* | Triumph Financial Inc. | 1,444 | 93 |
Chimera Investment Corp. | 15,224 | 92 | |
Park National Corp. | 907 | 92 | |
WesBanco Inc. | 3,613 | 92 | |
Hilltop Holdings Inc. | 3,010 | 91 | |
Virtus Investment Partners Inc. | 439 | 91 | |
Bank of NT Butterfield & Son Ltd. | 3,138 | 91 | |
* | Cannae Holdings Inc. | 4,522 | 89 |
OFG Bancorp | 2,908 | 88 | |
Trustmark Corp. | 3,822 | 88 | |
Enterprise Financial Services Corp. | 2,210 | 86 | |
Nelnet Inc. Class A | 939 | 86 | |
Pathward Financial Inc. | 1,716 | 85 | |
* | Rocket Cos. Inc. Class A | 7,966 | 85 |
City Holding Co. | 922 | 84 | |
First Commonwealth Financial Corp. | 6,423 | 84 | |
Two Harbors Investment Corp. | 6,030 | 83 |
Shares | Market Value• ($000) | ||
S&T Bancorp Inc. | 2,865 | 81 | |
Compass Diversified Holdings | 3,853 | 80 | |
Heartland Financial USA Inc. | 2,586 | 79 | |
Lakeland Financial Corp. | 1,515 | 79 | |
PennyMac Mortgage Investment Trust | 5,883 | 79 | |
Stock Yards Bancorp Inc. | 1,725 | 79 | |
* | Palomar Holdings Inc. | 1,532 | 78 |
Stewart Information Services Corp. | 1,673 | 77 | |
National Western Life Group Inc. Class A | 163 | 74 | |
Provident Financial Services Inc. | 4,513 | 74 | |
Franklin BSP Realty Trust Inc. REIT | 5,261 | 74 | |
Horace Mann Educators Corp. | 2,556 | 73 | |
*,1 | Trupanion Inc. | 2,461 | 73 |
First Bancorp (XNGS) | 2,419 | 72 | |
MFA Financial Inc. REIT | 6,485 | 71 | |
Westamerica BanCorp | 1,591 | 70 | |
* | Encore Capital Group Inc. | 1,464 | 69 |
National Bank Holdings Corp. Class A | 2,200 | 69 | |
* | Customers Bancorp Inc. | 1,924 | 68 |
FB Financial Corp. | 2,232 | 68 | |
Hope Bancorp Inc. | 7,083 | 68 | |
Employers Holdings Inc. | 1,704 | 67 | |
CNA Financial Corp. | 1,682 | 66 | |
Live Oak Bancshares Inc. | 2,036 | 66 | |
Preferred Bank | 1,066 | 66 | |
Claros Mortgage Trust Inc. | 5,772 | 66 | |
KKR Real Estate Finance Trust Inc. | 5,163 | 65 | |
TriCo Bancshares | 1,881 | 65 | |
Stellar Bancorp Inc. | 3,074 | 65 | |
Safety Insurance Group Inc. | 935 | 64 | |
* | SiriusPoint Ltd. | 5,790 | 64 |
First Busey Corp. | 3,055 | 62 | |
WisdomTree Inc. | 8,543 | 62 | |
B Riley Financial Inc. | 1,182 | 61 | |
Banc of California Inc. | 4,852 | 61 | |
ProAssurance Corp. | 3,457 | 61 | |
Veritex Holdings Inc. | 3,258 | 61 | |
* | Oscar Health Inc. Class A | 9,717 | 61 |
AMERISAFE Inc. | 1,155 | 60 | |
Redwood Trust Inc. | 7,538 | 60 | |
Sandy Spring Bancorp Inc. | 2,705 | 60 | |
ARMOUR Residential REIT Inc. | 12,068 | 59 | |
PacWest Bancorp | 7,274 | 58 | |
QCR Holdings Inc. | 1,113 | 58 | |
Victory Capital Holdings Inc. Class A | 1,676 | 58 | |
Nicolet Bankshares Inc. | 758 | 57 | |
Argo Group International Holdings Ltd. | 1,926 | 57 | |
OceanFirst Financial Corp. | 3,330 | 56 | |
BrightSpire Capital Inc. | 7,977 | 56 | |
Lakeland Bancorp Inc. | 4,088 | 55 | |
Enact Holdings Inc. | 1,914 | 55 | |
* | Open Lending Corp. Class A | 6,603 | 54 |
Berkshire Hills Bancorp Inc. | 2,540 | 53 | |
* | Avantax Inc. | 2,523 | ��� 53 |
1 | Ellington Financial Inc. | 3,959 | 53 |
Origin Bancorp Inc. | 1,729 | 53 |
Shares | Market Value• ($000) | ||
Southside Bancshares Inc. | 1,773 | 53 | |
Brightsphere Investment Group Inc. | 2,562 | 53 | |
Premier Financial Corp. | 2,822 | 53 | |
Brookline Bancorp Inc. | 5,483 | 52 | |
Eagle Bancorp Inc. | 2,142 | 52 | |
Peoples Bancorp Inc. | 2,009 | 52 | |
First Bancshares Inc. | 1,781 | 51 | |
First Community Bankshares Inc. | 1,656 | 51 | |
German American Bancorp Inc. | 1,758 | 51 | |
Tompkins Financial Corp. | 975 | 51 | |
New York Mortgage Trust Inc. | 5,381 | 51 | |
Dime Community Bancshares Inc. | 2,343 | 50 | |
Patria Investments Ltd. Class A | 3,317 | 48 | |
1st Source Corp. | 1,026 | 46 | |
*,1 | Lemonade Inc. | 3,319 | 46 |
* | Assetmark Financial Holdings Inc. | 1,571 | 45 |
Business First Bancshares Inc. | 2,223 | 45 | |
ConnectOne Bancorp Inc. | 2,339 | 45 | |
Mercury General Corp. | 1,581 | 45 | |
* | PRA Group Inc. | 2,330 | 45 |
* | Ambac Financial Group Inc. | 3,431 | 44 |
Bank First Corp. | 563 | 44 | |
Heritage Financial Corp. | 2,471 | 43 | |
* | LendingClub Corp. | 6,228 | 43 |
Capitol Federal Financial Inc. | 7,376 | 42 | |
Dynex Capital Inc. | 3,265 | 42 | |
TFS Financial Corp. | 3,048 | 41 | |
Granite Point Mortgage Trust Inc. | 7,548 | 40 | |
Old Second Bancorp Inc. | 2,752 | 40 | |
Byline Bancorp Inc. | 1,799 | 38 | |
Banco Latinoamericano de Comercio Exterior SA Class E | 1,590 | 38 | |
Hanmi Financial Corp. | 2,136 | 37 | |
Colony Bankcorp Inc. | 3,539 | 37 | |
* | CrossFirst Bankshares Inc. | 3,318 | 36 |
F&G Annuities & Life Inc. | 1,281 | 36 | |
Camden National Corp. | 1,064 | 35 | |
Great Southern Bancorp Inc. | 684 | 35 | |
Horizon Bancorp Inc. | 3,118 | 35 | |
Midland States Bancorp Inc. | 1,585 | 35 | |
Peapack-Gladstone Financial Corp. | 1,268 | 35 | |
James River Group Holdings Ltd. | 2,391 | 35 | |
* | Coastal Financial Corp. | 801 | 35 |
TrustCo Bank Corp. NY | 1,238 | 35 | |
Capital Bancorp Inc. | 1,789 | 34 | |
UWM Holdings Corp. | 5,734 | 34 | |
American National Bankshares Inc. | 844 | 33 | |
* | Columbia Financial Inc. | 1,926 | 33 |
Diamond Hill Investment Group Inc. | 198 | 33 | |
Heritage Commerce Corp. | 3,766 | 33 | |
Northfield Bancorp Inc. | 3,091 | 33 | |
Amerant Bancorp Inc. | 1,698 | 32 | |
First Financial Corp. | 865 | 32 | |
First Mid Bancshares Inc. | 1,138 | 32 | |
Flushing Financial Corp. | 2,185 | 31 |
Shares | Market Value• ($000) | ||
P10 Inc. Class A | 2,574 | 31 | |
Central Pacific Financial Corp. | 1,744 | 30 | |
Donegal Group Inc. Class A | 2,043 | 30 | |
First Foundation Inc. | 3,824 | 30 | |
Mercantile Bank Corp. | 905 | 30 | |
TPG RE Finance Trust Inc. | 3,977 | 30 | |
* | World Acceptance Corp. | 220 | 30 |
Capital City Bank Group Inc. | 954 | 29 | |
Community Trust Bancorp Inc. | 827 | 29 | |
Kearny Financial Corp. | 3,943 | 29 | |
Merchants Bancorp | 997 | 29 | |
Washington Trust Bancorp Inc. | 1,021 | 29 | |
Invesco Mortgage Capital Inc. REIT | 2,621 | 29 | |
Cambridge Bancorp | 528 | 28 | |
Equity Bancshares Inc. Class A | 1,101 | 28 | |
Farmers National Banc Corp. | 2,219 | 28 | |
HarborOne Bancorp Inc. | 2,781 | 28 | |
Independent Bank Corp. | 1,446 | 28 | |
SmartFinancial Inc. | 1,222 | 28 | |
Univest Financial Corp. | 1,554 | 28 | |
Metrocity Bankshares Inc. | 1,420 | 28 | |
Brookfield Business Corp. Class A | 1,586 | 28 | |
HomeTrust Bancshares Inc. | 1,202 | 27 | |
Tiptree Inc. | 1,513 | 27 | |
Bar Harbor Bankshares | 1,058 | 26 | |
ESSA Bancorp Inc. | 1,647 | 26 | |
* | MBIA Inc. | 3,232 | 26 |
Southern Missouri Bancorp Inc. | 619 | 26 | |
NewtekOne Inc. | 1,454 | 26 | |
* | Metropolitan Bank Holding Corp. | 631 | 25 |
Alerus Financial Corp. | 1,281 | 25 | |
Perella Weinberg Partners | 2,352 | 25 | |
CNB Financial Corp. | 1,305 | 24 | |
Hingham Institution for Savings | 119 | 24 | |
Republic Bancorp Inc. Class A | 541 | 24 | |
1 | HCI Group Inc. | 435 | 23 |
Amalgamated Financial Corp. | 1,283 | 23 | |
MVB Financial Corp. | 926 | 22 | |
MidWestOne Financial Group Inc. | 1,027 | 22 | |
Peoples Financial Services Corp. | 513 | 22 | |
Shore Bancshares Inc. | 1,990 | 22 | |
Sierra Bancorp | 1,116 | 22 | |
United Fire Group Inc. | 1,119 | 22 | |
* | Carter Bankshares Inc. | 1,543 | 22 |
Bank of Marin Bancorp | 1,117 | 21 | |
Citizens & Northern Corp. | 1,172 | 21 | |
First Business Financial Services Inc. | 675 | 21 | |
First of Long Island Corp. | 1,596 | 21 | |
Macatawa Bank Corp. | 2,274 | 21 | |
Esquire Financial Holdings Inc. | 443 | 21 | |
Capstar Financial Holdings Inc. | 1,601 | 21 | |
GCM Grosvenor Inc. Class A | 2,814 | 21 | |
Orchid Island Capital Inc. | 2,217 | 21 | |
First Bancorp Inc. (XNGS) | 807 | 20 |
Shares | Market Value• ($000) | ||
Waterstone Financial Inc. | 1,582 | 20 | |
West BanCorp Inc. | 1,089 | 20 | |
* | Greenlight Capital Re Ltd. Class A | 1,800 | 20 |
AFC Gamma Inc. | 1,519 | 20 | |
* | Blue Foundry Bancorp | 2,108 | 20 |
Burke & Herbert Financial Services Corp. | 397 | 20 | |
Civista Bancshares Inc. | 1,128 | 19 | |
Financial Institutions Inc. | 1,084 | 19 | |
Guaranty Bancshares Inc. | 672 | 19 | |
Home Bancorp Inc. | 592 | 19 | |
Northeast Bank | 457 | 19 | |
Orrstown Financial Services Inc. | 876 | 19 | |
Sculptor Capital Management Inc. | 1,635 | 19 | |
Mid Penn Bancorp Inc. | 888 | 19 | |
South Plains Financial Inc. | 706 | 19 | |
Farmers & Merchants Bancorp Inc. | 957 | 18 | |
* | Sterling Bancorp Inc. | 2,972 | 18 |
Summit Financial Group Inc. | 747 | 18 | |
Universal Insurance Holdings Inc. | 1,385 | 18 | |
* | Southern First Bancshares Inc. | 624 | 18 |
HBT Financial Inc. | 942 | 18 | |
Red River Bancshares Inc. | 373 | 18 | |
Five Star Bancorp | 802 | 18 | |
* | Skyward Specialty Insurance Group Inc. | 751 | 18 |
* | Bridgewater Bancshares Inc. | 1,592 | 17 |
HomeStreet Inc. | 1,749 | 17 | |
RBB Bancorp | 1,256 | 17 | |
* | Forge Global Holdings Inc. | 6,863 | 17 |
NexPoint Diversified Real Estate Trust | 1,845 | 17 | |
Arrow Financial Corp. | 932 | 16 | |
Enterprise Bancorp Inc. | 556 | 16 | |
John Marshall Bancorp Inc. | 924 | 16 | |
BCB Bancorp Inc. | 1,278 | 15 | |
ACNB Corp. | 478 | 15 | |
Chicago Atlantic Real Estate Finance Inc. | 976 | 15 | |
* | Pioneer Bancorp Inc. | 1,559 | 14 |
Orange County Bancorp Inc. | 298 | 14 | |
Citizens Financial Services Inc. | 262 | 14 | |
* | LendingTree Inc. | 711 | 13 |
Fidelity D&D Bancorp Inc. | 269 | 13 | |
Greene County Bancorp Inc. | 436 | 13 | |
BayCom Corp. | 639 | 12 | |
Middlefield Banc Corp. | 448 | 12 | |
Northrim BanCorp Inc. | 285 | 12 | |
Regional Management Corp. | 447 | 12 | |
* | Ocwen Financial Corp. | 403 | 12 |
* | Third Coast Bancshares Inc. | 639 | 12 |
First Bank | 943 | 11 | |
* | NI Holdings Inc. | 871 | 11 |
Norwood Financial Corp. | 423 | 11 | |
* | American Coastal Insurance Corp. Class C | 1,455 | 11 |
Plumas Bancorp | 319 | 11 | |
Primis Financial Corp. | 1,278 | 11 | |
Northeast Community Bancorp Inc. | 722 | 11 | |
C&F Financial Corp. | 186 | 10 |
Shares | Market Value• ($000) | ||
Codorus Valley Bancorp Inc. | 476 | 10 | |
* | eHealth Inc. | 1,328 | 10 |
FS Bancorp Inc. | 353 | 10 | |
PCB Bancorp | 605 | 10 | |
Timberland Bancorp Inc. | 369 | 10 | |
Silvercrest Asset Management Group Inc. Class A | 521 | 10 | |
* | AlTi Global Inc. | 1,317 | 10 |
Crawford & Co. Class A | 861 | 9 | |
* | FVCBankcorp Inc. | 760 | 9 |
Investors Title Co. | 63 | 9 | |
Parke Bancorp Inc. | 518 | 9 | |
Penns Woods Bancorp Inc. | 360 | 9 | |
Unity Bancorp Inc. | 361 | 9 | |
* | Maiden Holdings Ltd. | 5,350 | 9 |
ChoiceOne Financial Services Inc. | 384 | 9 | |
Oak Valley Bancorp | 375 | 9 | |
Southern States Bancshares Inc. | 397 | 9 | |
Central Valley Community Bancorp | 562 | 8 | |
Evans Bancorp Inc. | 268 | 8 | |
LCNB Corp. | 557 | 8 | |
National Bankshares Inc. | 321 | 8 | |
MainStreet Bancshares Inc. | 366 | 8 | |
* | First Western Financial Inc. | 405 | 8 |
Angel Oak Mortgage REIT Inc. | 891 | 8 | |
Virginia National Bankshares Corp. | 244 | 8 | |
* | Ponce Financial Group Inc. | 1,061 | 8 |
Princeton Bancorp Inc. | 261 | 8 | |
Bankwell Financial Group Inc. | 288 | 7 | |
Chemung Financial Corp. | 172 | 7 | |
First Community Corp. | 378 | 7 | |
Bank7 Corp. | 277 | 7 | |
* | Consumer Portfolio Services Inc. | 721 | 7 |
* | Security National Financial Corp. Class A | 810 | 7 |
Ames National Corp. | 404 | 7 | |
Nexpoint Real Estate Finance Inc. | 424 | 7 | |
Blue Ridge Bankshares Inc. | 839 | 7 | |
* | Bakkt Holdings Inc. | 4,913 | 7 |
* | Kingsway Financial Services Inc. | 775 | 7 |
* | Hippo Holdings Inc. | 685 | 7 |
* | USCB Financial Holdings Inc. | 564 | 6 |
Luther Burbank Corp. | 600 | 5 | |
* | Velocity Financial Inc. | 431 | 5 |
* | SWK Holdings Corp. | 300 | 5 |
* | Finance of America Cos. Inc. Class A | 3,215 | 5 |
* | GoHealth Inc. Class A | 342 | 5 |
MarketWise Inc. | 1,554 | 2 | |
296,613 | |||
Health Care (12.6%) | |||
Eli Lilly & Co. | 54,975 | 30,467 | |
UnitedHealth Group Inc. | 60,372 | 28,772 | |
Johnson & Johnson | 156,496 | 25,302 | |
Merck & Co. Inc. | 165,065 | 17,989 | |
AbbVie Inc. | 114,638 | 16,847 | |
Thermo Fisher Scientific Inc. | 25,071 | 13,967 | |
Pfizer Inc. | 367,049 | 12,986 |
Shares | Market Value• ($000) | ||
Abbott Laboratories | 112,461 | 11,572 | |
Danaher Corp. | 42,783 | 11,337 | |
Amgen Inc. | 34,708 | 8,897 | |
Bristol-Myers Squibb Co. | 136,610 | 8,422 | |
* | Intuitive Surgical Inc. | 22,673 | 7,089 |
Medtronic plc | 86,331 | 7,036 | |
Elevance Health Inc. | 15,390 | 6,803 | |
Stryker Corp. | 23,092 | 6,548 | |
Gilead Sciences Inc. | 81,113 | 6,204 | |
* | Vertex Pharmaceuticals Inc. | 16,729 | 5,827 |
Zoetis Inc. | 30,067 | 5,728 | |
* | Regeneron Pharmaceuticals Inc. | 6,725 | 5,558 |
Cigna Group | 18,960 | 5,238 | |
Becton Dickinson & Co. | 18,380 | 5,136 | |
* | Boston Scientific Corp. | 93,115 | 5,023 |
Humana Inc. | 8,112 | 3,745 | |
HCA Healthcare Inc. | 13,265 | 3,678 | |
* | Edwards Lifesciences Corp. | 39,114 | 2,991 |
* | IDEXX Laboratories Inc. | 5,352 | 2,737 |
* | IQVIA Holdings Inc. | 11,977 | 2,666 |
* | DexCom Inc. | 25,137 | 2,538 |
* | Biogen Inc. | 9,375 | 2,506 |
* | Moderna Inc. | 21,861 | 2,472 |
Agilent Technologies Inc. | 19,195 | 2,324 | |
* | Centene Corp. | 35,304 | 2,176 |
* | Veeva Systems Inc. Class A | 9,446 | 1,971 |
West Pharmaceutical Services Inc. | 4,802 | 1,954 | |
* | Seagen Inc. | 9,113 | 1,878 |
* | Align Technology Inc. | 4,971 | 1,840 |
GE Healthcare Inc. | 25,339 | 1,785 | |
* | Illumina Inc. | 10,316 | 1,704 |
* | Horizon Therapeutics plc | 14,541 | 1,639 |
Zimmer Biomet Holdings Inc. | 13,638 | 1,625 | |
* | Alnylam Pharmaceuticals Inc. | 8,119 | 1,606 |
ResMed Inc. | 9,456 | 1,509 | |
STERIS plc | 6,455 | 1,482 | |
Cardinal Health Inc. | 16,783 | 1,466 | |
* | ICON plc | 5,310 | 1,380 |
Baxter International Inc. | 33,457 | 1,358 | |
Laboratory Corp. of America Holdings | 5,738 | 1,194 | |
* | Hologic Inc. | 15,831 | 1,183 |
Cooper Cos. Inc. | 3,170 | 1,173 | |
* | Molina Healthcare Inc. | 3,755 | 1,165 |
* | BioMarin Pharmaceutical Inc. | 12,238 | 1,118 |
* | Exact Sciences Corp. | 11,598 | 970 |
Quest Diagnostics Inc. | 7,305 | 961 | |
* | Avantor Inc. | 44,032 | 953 |
Revvity Inc. | 8,133 | 952 | |
* | Insulet Corp. | 4,535 | 869 |
Viatris Inc. | 77,741 | 836 | |
Bio-Techne Corp. | 10,163 | 797 | |
* | Incyte Corp. | 12,082 | 780 |
Royalty Pharma plc Class A | 24,264 | 724 | |
* | Sarepta Therapeutics Inc. | 5,891 | 713 |
* | Neurocrine Biosciences Inc. | 6,347 | 691 |
* | Charles River Laboratories International Inc. | 3,311 | 685 |
* | QIAGEN NV | 14,866 | 676 |
* | United Therapeutics Corp. | 2,957 | 663 |
Teleflex Inc. | 3,075 | 654 | |
* | Henry Schein Inc. | 8,499 | 651 |
* | Penumbra Inc. | 2,388 | 632 |
* | Repligen Corp. | 3,635 | 632 |
* | Catalent Inc. | 11,772 | 588 |
Shares | Market Value• ($000) | ||
* | Jazz Pharmaceuticals plc | 3,962 | 568 |
* | Bio-Rad Laboratories Inc. Class A | 1,346 | 539 |
Universal Health Services Inc. Class B | 3,890 | 524 | |
DENTSPLY SIRONA Inc. | 14,011 | 520 | |
* | Shockwave Medical Inc. | 2,323 | 512 |
* | Tenet Healthcare Corp. | 6,459 | 501 |
Chemed Corp. | 948 | 485 | |
Encompass Health Corp. | 6,501 | 462 | |
* | Exelixis Inc. | 20,514 | 459 |
* | Acadia Healthcare Co. Inc. | 5,925 | 457 |
Bruker Corp. | 6,783 | 445 | |
* | Inspire Medical Systems Inc. | 1,901 | 431 |
* | Karuna Therapeutics Inc. | 2,272 | 427 |
* | Globus Medical Inc. Class A | 7,677 | 415 |
* | Medpace Holdings Inc. | 1,493 | 404 |
* | Elanco Animal Health Inc. (XNYS) | 32,654 | 398 |
* | Natera Inc. | 6,606 | 388 |
* | Option Care Health Inc. | 11,133 | 388 |
* | HealthEquity Inc. | 5,528 | 373 |
* | Ionis Pharmaceuticals Inc. | 9,057 | 365 |
* | Halozyme Therapeutics Inc. | 8,493 | 361 |
Organon & Co. | 16,326 | 359 | |
* | DaVita Inc. | 3,465 | 355 |
* | Masimo Corp. | 3,085 | 353 |
Ensign Group Inc. | 3,438 | 345 | |
* | Envista Holdings Corp. | 10,428 | 334 |
* | Intra-Cellular Therapies Inc. | 5,939 | 330 |
* | Alkermes plc | 11,033 | 322 |
* | Neogen Corp. | 13,801 | 319 |
* | agilon health Inc. | 17,616 | 312 |
* | Reata Pharmaceuticals Inc. Class A | 1,833 | 310 |
* | 10X Genomics Inc. Class A | 5,897 | 306 |
* | Lantheus Holdings Inc. | 4,415 | 302 |
* | Vaxcyte Inc. | 5,816 | 302 |
Perrigo Co. plc | 8,595 | 301 | |
* | Haemonetics Corp. | 3,195 | 287 |
* | Syneos Health Inc. | 6,562 | 280 |
* | Teladoc Health Inc. | 12,379 | 280 |
* | QuidelOrtho Corp. | 3,402 | 280 |
* | Guardant Health Inc. | 7,004 | 274 |
* | Apellis Pharmaceuticals Inc. | 6,371 | 269 |
* | Amicus Therapeutics Inc. | 20,368 | 261 |
* | Azenta Inc. | 4,373 | 247 |
* | ImmunoGen Inc. | 15,296 | 242 |
* | Glaukos Corp. | 3,147 | 236 |
* | Merit Medical Systems Inc. | 3,576 | 233 |
* | Ginkgo Bioworks Holdings Inc. | 98,184 | 230 |
* | REVOLUTION Medicines Inc. | 6,422 | 218 |
* | Inari Medical Inc. | 3,279 | 218 |
* | Bridgebio Pharma Inc. | 7,264 | 217 |
CONMED Corp. | 1,943 | 217 | |
* | Intellia Therapeutics Inc. | 5,590 | 210 |
* | ACADIA Pharmaceuticals Inc. | 7,667 | 207 |
* | Cytokinetics Inc. | 5,908 | 206 |
* | iRhythm Technologies Inc. | 1,920 | 198 |
* | Integra LifeSciences Holdings Corp. | 4,644 | 198 |
* | Blueprint Medicines Corp. | 3,900 | 194 |
Select Medical Holdings Corp. | 6,641 | 194 | |
* | Amedisys Inc. | 2,048 | 192 |
* | Inmode Ltd. | 4,905 | 192 |
Shares | Market Value• ($000) | ||
* | LivaNova plc | 3,417 | 190 |
* | ICU Medical Inc. | 1,293 | 188 |
* | Insmed Inc. | 8,580 | 188 |
* | Enovis Corp. | 3,356 | 188 |
* | Progyny Inc. | 4,995 | 187 |
* | Prestige Consumer Healthcare Inc. | 3,176 | 185 |
* | Arrowhead Pharmaceuticals Inc. | 6,557 | 181 |
* | Roivant Sciences Ltd. | 15,599 | 180 |
* | Axonics Inc. | 3,120 | 179 |
* | Integer Holdings Corp. | 2,101 | 179 |
* | Evolent Health Inc. Class A | 6,969 | 178 |
* | Pacific Biosciences of California Inc. | 15,795 | 178 |
* | PTC Therapeutics Inc. | 4,476 | 177 |
* | Denali Therapeutics Inc. | 7,482 | 173 |
*,1 | Axsome Therapeutics Inc. | 2,117 | 171 |
* | Krystal Biotech Inc. | 1,360 | 169 |
* | Corcept Therapeutics Inc. | 5,115 | 167 |
Patterson Cos. Inc. | 5,546 | 167 | |
* | Doximity Inc. Class A | 6,953 | 166 |
* | R1 RCM Inc. | 9,569 | 165 |
Premier Inc. Class A | 7,534 | 162 | |
* | Ultragenyx Pharmaceutical Inc. | 4,398 | 162 |
* | Omnicell Inc. | 2,819 | 160 |
* | Madrigal Pharmaceuticals Inc. | 863 | 155 |
* | Surgery Partners Inc. | 4,268 | 155 |
* | Fortrea Holdings Inc. | 5,548 | 153 |
* | Novocure Ltd. | 6,629 | 146 |
* | Akero Therapeutics Inc. | 2,847 | 141 |
* | Prothena Corp. plc | 2,631 | 139 |
* | STAAR Surgical Co. | 3,061 | 133 |
* | TransMedics Group Inc. | 2,030 | 133 |
* | AtriCure Inc. | 2,903 | 131 |
* | Amphastar Pharmaceuticals Inc. | 2,439 | 130 |
* | NeoGenomics Inc. | 8,026 | 121 |
* | Veracyte Inc. | 4,572 | 121 |
* | Certara Inc. | 7,472 | 121 |
* | CorVel Corp. | 556 | 120 |
* | Dynavax Technologies Corp. | 8,079 | 116 |
* | Privia Health Group Inc. | 4,300 | 113 |
* | Tandem Diabetes Care Inc. | 4,081 | 112 |
* | Mirati Therapeutics Inc. | 2,831 | 105 |
* | RadNet Inc. | 3,153 | 105 |
* | Morphic Holding Inc. | 1,912 | 105 |
* | SpringWorks Therapeutics Inc. | 3,649 | 103 |
* | Xencor Inc. | 4,651 | 102 |
* | Apollo Medical Holdings Inc. | 2,680 | 101 |
* | Beam Therapeutics Inc. | 4,340 | 101 |
* | Sotera Health Co. | 6,231 | 101 |
* | Pacira BioSciences Inc. | 2,837 | 100 |
* | Ideaya Biosciences Inc. | 3,408 | 100 |
* | Supernus Pharmaceuticals Inc. | 3,122 | 99 |
* | Vericel Corp. | 2,974 | 98 |
* | Ventyx Biosciences Inc. | 2,937 | 98 |
* | Revance Therapeutics Inc. | 5,351 | 94 |
* | Agios Pharmaceuticals Inc. | 3,399 | 93 |
* | Cerevel Therapeutics Holdings Inc. | 3,888 | 92 |
* | TG Therapeutics Inc. | 8,739 | 91 |
* | Myriad Genetics Inc. | 5,032 | 90 |
Shares | Market Value• ($000) | ||
* | Phreesia Inc. | 3,137 | 89 |
* | Catalyst Pharmaceuticals Inc. | 6,227 | 87 |
* | Arvinas Inc. | 3,049 | 86 |
* | Addus HomeCare Corp. | 971 | 85 |
* | Cymabay Therapeutics Inc. | 6,168 | 85 |
* | Viking Therapeutics Inc. | 6,145 | 85 |
* | Arcellx Inc. | 2,384 | 85 |
* | Rhythm Pharmaceuticals Inc. | 3,237 | 84 |
* | Zentalis Pharmaceuticals Inc. | 3,173 | 84 |
* | BioCryst Pharmaceuticals Inc. | 11,649 | 83 |
* | Alphatec Holdings Inc. | 5,010 | 82 |
* | Celldex Therapeutics Inc. | 2,892 | 81 |
US Physical Therapy Inc. | 807 | 81 | |
* | Iovance Biotherapeutics Inc. | 13,054 | 79 |
* | Owens & Minor Inc. | 4,645 | 78 |
* | Twist Bioscience Corp. | 3,541 | 78 |
*,1 | PROCEPT BioRobotics Corp. | 2,275 | 78 |
* | Ironwood Pharmaceuticals Inc. | 8,695 | 77 |
* | Immunovant Inc. | 3,391 | 77 |
* | Aurinia Pharmaceuticals Inc. | 8,454 | 77 |
* | Geron Corp. (XNGS) | 31,348 | 76 |
* | Syndax Pharmaceuticals Inc. | 4,117 | 76 |
* | UFP Technologies Inc. | 429 | 75 |
* | Recursion Pharmaceuticals Inc. Class A | 8,610 | 75 |
* | MannKind Corp. | 15,965 | 74 |
* | Harmony Biosciences Holdings Inc. | 2,045 | 74 |
* | Pediatrix Medical Group Inc. | 5,141 | 73 |
* | Maravai LifeSciences Holdings Inc. Class A | 6,984 | 72 |
LeMaitre Vascular Inc. | 1,228 | 71 | |
* | Nuvalent Inc. Class A | 1,506 | 69 |
* | Ligand Pharmaceuticals Inc. | 1,040 | 68 |
* | Protagonist Therapeutics Inc. | 3,412 | 68 |
* | Amylyx Pharmaceuticals Inc. | 3,174 | 68 |
* | 89bio Inc. | 3,891 | 67 |
* | Biohaven Ltd. | 3,684 | 67 |
* | Arcus Biosciences Inc. | 3,205 | 66 |
* | Sage Therapeutics Inc. | 3,317 | 66 |
* | Vir Biotechnology Inc. | 5,238 | 66 |
* | Travere Therapeutics Inc. | 4,556 | 65 |
Embecta Corp. | 3,543 | 65 | |
* | NextGen Healthcare Inc. | 3,489 | 64 |
* | Warby Parker Inc. Class A | 5,214 | 63 |
* | Avanos Medical Inc. | 2,900 | 61 |
* | Quanterix Corp. | 2,285 | 61 |
* | Cytek Biosciences Inc. | 8,004 | 61 |
* | Pliant Therapeutics Inc. | 3,537 | 60 |
* | Relay Therapeutics Inc. | 5,880 | 60 |
* | Accolade Inc. | 4,330 | 58 |
* | Ardelyx Inc. | 13,423 | 57 |
* | MiMedx Group Inc. | 7,645 | 57 |
* | Crinetics Pharmaceuticals Inc. | 3,251 | 56 |
* | Rocket Pharmaceuticals Inc. | 3,501 | 55 |
* | Cogent Biosciences Inc. | 4,536 | 55 |
* | LifeStance Health Group Inc. | 6,664 | 55 |
Healthcare Services Group Inc. | 4,674 | 54 | |
* | Replimune Group Inc. | 2,584 | 53 |
* | AdaptHealth Corp. | 4,395 | 52 |
* | ANI Pharmaceuticals Inc. | 797 | 51 |
* | Hims & Hers Health Inc. | 7,658 | 51 |
* | ADMA Biologics Inc. | 13,072 | 50 |
Shares | Market Value• ($000) | ||
*,1 | Cassava Sciences Inc. | 2,403 | 50 |
* | RxSight Inc. | 1,715 | 50 |
* | Brookdale Senior Living Inc. | 11,567 | 49 |
* | Collegium Pharmaceutical Inc. | 2,107 | 49 |
* | SI-BONE Inc. | 2,141 | 49 |
* | Keros Therapeutics Inc. | 1,403 | 49 |
National HealthCare Corp. | 735 | 48 | |
* | Arcturus Therapeutics Holdings Inc. | 1,579 | 48 |
* | Viridian Therapeutics Inc. | 2,652 | 48 |
* | Adaptive Biotechnologies Corp. | 6,967 | 47 |
* | Innoviva Inc. | 3,687 | 47 |
* | Orthofix Medical Inc. | 2,198 | 47 |
* | OPKO Health Inc. | 25,212 | 46 |
* | Silk Road Medical Inc. | 2,360 | 46 |
* | DocGo Inc. | 5,115 | 46 |
* | Avid Bioservices Inc. | 3,853 | 45 |
* | Varex Imaging Corp. | 2,265 | 45 |
* | Kymera Therapeutics Inc. | 2,371 | 45 |
* | EQRx Inc. | 19,850 | 45 |
* | Deciphera Pharmaceuticals Inc. | 3,115 | 44 |
* | Editas Medicine Inc. | 4,888 | 44 |
* | Nevro Corp. | 2,196 | 44 |
* | Mirum Pharmaceuticals Inc. | 1,673 | 44 |
* | Inhibrx Inc. | 2,049 | 44 |
* | Treace Medical Concepts Inc. | 2,852 | 44 |
* | Point Biopharma Global Inc. | 5,466 | 44 |
* | Health Catalyst Inc. | 3,653 | 43 |
* | REGENXBIO Inc. | 2,454 | 43 |
* | Multiplan Corp. | 24,915 | 43 |
* | Fulgent Genetics Inc. | 1,297 | 42 |
* | Novavax Inc. | 5,149 | 41 |
* | Outset Medical Inc. | 3,044 | 41 |
* | Day One Biopharmaceuticals Inc. | 3,067 | 41 |
* | Verve Therapeutics Inc. | 3,178 | 41 |
* | Enhabit Inc. | 3,201 | 41 |
Atrion Corp. | 85 | 40 | |
* | Kura Oncology Inc. | 4,026 | 40 |
* | OrthoPediatrics Corp. | 1,025 | 39 |
* | Artivion Inc. | 2,263 | 38 |
* | PetIQ Inc. | 1,991 | 38 |
* | Vera Therapeutics Inc. | 2,121 | 38 |
* | Paragon 28 Inc. | 2,670 | 38 |
*,1 | Theravance Biopharma Inc. | 3,902 | 37 |
* | Anavex Life Sciences Corp. | 4,597 | 36 |
* | Aclaris Therapeutics Inc. | 4,691 | 35 |
* | CareDx Inc. | 3,803 | 35 |
National Research Corp. | 837 | 35 | |
* | OraSure Technologies Inc. | 5,358 | 35 |
* | Avidity Biosciences Inc. | 4,653 | 35 |
* | Alignment Healthcare Inc. | 5,921 | 35 |
* | Rapt Therapeutics Inc. | 1,723 | 33 |
* | ProKidney Corp. | 3,879 | 33 |
* | Prime Medicine Inc. | 2,469 | 33 |
* | Agenus Inc. | 23,047 | 32 |
* | Amneal Pharmaceuticals Inc. | 7,570 | 31 |
* | Coherus Biosciences Inc. | 5,751 | 31 |
* | Kiniksa Pharmaceuticals Ltd. Class A | 1,775 | 31 |
* | OmniAb Inc. | 5,277 | 31 |
* | Surmodics Inc. | 821 | 30 |
* | 4D Molecular Therapeutics Inc. | 1,840 | 30 |
Shares | Market Value• ($000) | ||
* | Sana Biotechnology Inc. | 5,543 | 30 |
HealthStream Inc. | 1,357 | 29 | |
* | Dyne Therapeutics Inc. | 2,565 | 29 |
* | BioLife Solutions Inc. | 2,110 | 28 |
* | Community Health Systems Inc. | 8,373 | 28 |
* | Castle Biosciences Inc. | 1,381 | 28 |
* | ModivCare Inc. | 863 | 28 |
* | AnaptysBio Inc. | 1,347 | 27 |
* | Arcutis Biotherapeutics Inc. | 3,209 | 27 |
* | Nurix Therapeutics Inc. | 3,153 | 27 |
* | Lyell Immunopharma Inc. | 11,179 | 27 |
* | Tactile Systems Technology Inc. | 1,389 | 26 |
* | Avita Medical Inc. | 1,580 | 26 |
* | Pulmonx Corp. | 2,489 | 26 |
* | Nano-X Imaging Ltd. | 3,096 | 26 |
* | Disc Medicine Inc. | 486 | 26 |
* | Harrow Health Inc. | 1,635 | 25 |
* | Pennant Group Inc. | 2,075 | 25 |
* | American Well Corp. Class A | 17,265 | 25 |
* | Tarsus Pharmaceuticals Inc. | 1,433 | 25 |
* | Evolus Inc. | 2,392 | 24 |
* | Alector Inc. | 4,381 | 24 |
* | Alpine Immune Sciences Inc. | 1,983 | 24 |
* | Caribou Biosciences Inc. | 3,996 | 24 |
* | Tango Therapeutics Inc. | 3,681 | 24 |
* | Zymeworks Inc. | 3,333 | 24 |
* | Allogene Therapeutics Inc. | 5,833 | 23 |
* | Bluebird Bio Inc. | 6,227 | 23 |
iRadimed Corp. | 504 | 23 | |
* | Cabaletta Bio Inc. | 1,612 | 23 |
* | PMV Pharmaceuticals Inc. | 3,120 | 23 |
* | Enliven Therapeutics Inc. | 1,464 | 23 |
* | Aldeyra Therapeutics Inc. | 2,922 | 22 |
* | UroGen Pharma Ltd. | 1,231 | 22 |
* | Liquidia Corp. | 3,158 | 22 |
* | iTeos Therapeutics Inc. | 1,783 | 22 |
* | ORIC Pharmaceuticals Inc. | 2,444 | 22 |
* | Marinus Pharmaceuticals Inc. | 3,127 | 22 |
* | SomaLogic Inc. | 10,146 | 22 |
* | Enanta Pharmaceuticals Inc. | 1,388 | 21 |
* | Seres Therapeutics Inc. | 6,113 | 21 |
Utah Medical Products Inc. | 224 | 21 | |
* | Phathom Pharmaceuticals Inc. | 1,458 | 21 |
* | Biomea Fusion Inc. | 1,250 | 21 |
* | 23andMe Holding Co. Class A | 18,973 | 21 |
* | Cerus Corp. | 10,325 | 20 |
* | KalVista Pharmaceuticals Inc. | 1,804 | 20 |
* | Voyager Therapeutics Inc. | 1,989 | 20 |
* | Arbutus Biopharma Corp. | 9,636 | 20 |
* | Precigen Inc. | 11,243 | 20 |
* | Taro Pharmaceutical Industries Ltd. | 493 | 20 |
* | EyePoint Pharmaceuticals Inc. | 1,971 | 20 |
* | Entrada Therapeutics Inc. | 1,340 | 20 |
* | Anika Therapeutics Inc. | 1,066 | 19 |
* | Ocular Therapeutix Inc. | 5,132 | 19 |
* | Vanda Pharmaceuticals Inc. | 3,703 | 19 |
* | Sutro Biopharma Inc. | 4,045 | 19 |
* | MaxCyte Inc. | 5,264 | 19 |
* | Agiliti Inc. | 1,954 | 19 |
* | Assertio Holdings Inc. | 5,938 | 19 |
* | Humacyte Inc. | 4,936 | 19 |
Shares | Market Value• ($000) | ||
* | Zimvie Inc. | 1,622 | 19 |
* | AngioDynamics Inc. | 2,187 | 18 |
Phibro Animal Health Corp. Class A | 1,323 | 18 | |
* | Atea Pharmaceuticals Inc. | 5,308 | 18 |
* | Edgewise Therapeutics Inc. | 2,838 | 18 |
* | Nuvation Bio Inc. | 11,056 | 18 |
* | Xeris Biopharma Holdings Inc. | 7,859 | 18 |
* | Aura Biosciences Inc. | 1,740 | 18 |
* | 2seventy bio Inc. | 3,394 | 18 |
* | HilleVax Inc. | 1,316 | 18 |
* | Accuray Inc. | 5,917 | 17 |
* | Computer Programs and Systems Inc. | 1,064 | 17 |
* | MacroGenics Inc. | 3,547 | 17 |
* | Savara Inc. | 4,762 | 17 |
* | Viemed Healthcare Inc. | 2,115 | ���17 |
* | Olema Pharmaceuticals Inc. | 1,676 | 17 |
*,1 | Butterfly Network Inc. | 9,649 | 17 |
* | Sharecare Inc. | 18,064 | 17 |
* | Intercept Pharmaceuticals Inc. | 1,452 | 16 |
*,1 | Invitae Corp. | 17,063 | 16 |
* | WaVe Life Sciences Ltd. | 3,693 | 16 |
* | Axogen Inc. | 2,452 | 15 |
* | Emergent BioSolutions Inc. | 3,133 | 15 |
* | Organogenesis Holdings Inc. | 5,493 | 15 |
* | Quipt Home Medical Corp. | 2,507 | 15 |
* | Fate Therapeutics Inc. | 5,747 | 14 |
* | Heron Therapeutics Inc. | 8,276 | 14 |
SIGA Technologies Inc. | 3,123 | 14 | |
* | scPharmaceuticals Inc. | 1,809 | 14 |
* | Cullinan Oncology Inc. | 1,349 | 14 |
*,1 | Terns Pharmaceuticals Inc. | 2,691 | 14 |
*,1 | Monte Rosa Therapeutics Inc. | 2,381 | 14 |
* | Astria Therapeutics Inc. | 1,605 | 14 |
* | Omeros Corp. | 3,823 | 13 |
* | Ovid therapeutics Inc. | 3,730 | 13 |
* | Generation Bio Co. | 2,696 | 13 |
* | Aerovate Therapeutics Inc. | 835 | 13 |
* | Erasca Inc. | 4,924 | 13 |
* | Icosavax Inc. | 1,727 | 13 |
* | Tenaya Therapeutics Inc. | 3,378 | 13 |
* | Compass Therapeutics Inc. | 5,698 | 13 |
*,3 | Scilex Holding Co. (Acquired 1/6/23, Cost $51) | 4,893 | 13 |
* | Allakos Inc. | 4,153 | 12 |
* | Sangamo Therapeutics Inc. | 12,115 | 12 |
* | Y-mAbs Therapeutics Inc. | 2,309 | 12 |
* | Seer Inc. | 4,572 | 12 |
*,1 | Summit Therapeutics Inc. (XNMS) | 7,283 | 12 |
* | CVRx Inc. | 707 | 12 |
*,1 | Janux Therapeutics Inc. | 1,071 | 12 |
* | Mineralys Therapeutics Inc. | 945 | 12 |
Carisma Therapeutics Inc. | 1,666 | 12 | |
* | Atara Biotherapeutics Inc. | 7,597 | 11 |
* | CorMedix Inc. | 2,787 | 11 |
* | Cutera Inc. | 954 | 11 |
* | Harvard Bioscience Inc. | 2,448 | 11 |
* | Rigel Pharmaceuticals Inc. | 9,581 | 11 |
* | Scholar Rock Holding Corp. | 1,771 | 11 |
* | MeiraGTx Holdings plc | 1,738 | 11 |
* | InfuSystem Holdings Inc. | 1,102 | 11 |
* | 908 Devices Inc. | 1,472 | 11 |
Shares | Market Value• ($000) | ||
* | ARS Pharmaceuticals Inc. | 1,508 | 11 |
* | Zevra Therapeutics Inc. | 2,148 | 11 |
* | Immuneering Corp. Class A | 1,273 | 11 |
* | Quantum-Si Inc. | 4,654 | 11 |
* | CareMax Inc. | 4,992 | 11 |
*,1 | Thorne HealthTech Inc. | 1,058 | 11 |
* | Tyra Biosciences Inc. | 746 | 11 |
* | Gritstone bio Inc. | 5,496 | 10 |
* | Inogen Inc. | 1,612 | 10 |
* | Lexicon Pharmaceuticals Inc. | 5,760 | 10 |
* | Lineage Cell Therapeutics Inc. | 7,878 | 10 |
* | X4 Pharmaceuticals Inc. | 7,756 | 10 |
* | PDS Biotechnology Corp. | 1,758 | 10 |
* | Actinium Pharmaceuticals Inc. | 1,639 | 10 |
* | Celcuity Inc. | 1,065 | 10 |
* | Inozyme Pharma Inc. | 2,120 | 10 |
* | Tela Bio Inc. | 1,028 | 10 |
* | ImmunityBio Inc. | 6,432 | 10 |
* | Rallybio Corp. | 1,916 | 10 |
* | Cara Therapeutics Inc. | 3,537 | 9 |
* | Eagle Pharmaceuticals Inc. | 545 | 9 |
* | Selecta Biosciences Inc. | 7,231 | 9 |
* | Stoke Therapeutics Inc. | 1,608 | 9 |
*,1 | Allovir Inc. | 2,948 | 9 |
* | Poseida Therapeutics Inc. | 4,233 | 9 |
*,1 | Fennec Pharmaceuticals Inc. | 1,155 | 9 |
* | Sanara Medtech Inc. | 243 | 9 |
* | Codexis Inc. | 4,706 | 8 |
* | Joint Corp. | 826 | 8 |
* | Karyopharm Therapeutics Inc. | 6,216 | 8 |
* | Merrimack Pharmaceuticals Inc. | 660 | 8 |
* | Mersana Therapeutics Inc. | 7,272 | 8 |
* | NanoString Technologies Inc. | 3,306 | 8 |
* | OptimizeRx Corp. | 904 | 8 |
* | Zynex Inc. | 989 | 8 |
* | ClearPoint Neuro Inc. | 1,460 | 8 |
* | Altimmune Inc. | 3,066 | 8 |
* | Annexon Inc. | 2,844 | 8 |
* | Nautilus Biotechnology Inc. | ��2,441 | 8 |
* | Semler Scientific Inc. | 316 | 8 |
* | Acrivon Therapeutics Inc. | 699 | 8 |
* | Optinose Inc. | 5,697 | 7 |
* | IGM Biosciences Inc. | 1,031 | 7 |
* | Larimar Therapeutics Inc. | 1,954 | 7 |
* | Protalix BioTherapeutics Inc. | 3,534 | 7 |
*,1 | Foghorn Therapeutics Inc. | 947 | 7 |
* | BioAtla Inc. | 2,751 | 7 |
* | Citius Pharmaceuticals Inc. | 7,653 | 7 |
* | Sight Sciences Inc. | 1,077 | 7 |
* | Vaxxinity Inc. Class A | 3,228 | 7 |
* | AirSculpt Technologies Inc. | 912 | 7 |
* | Cue Biopharma Inc. | 2,162 | 6 |
* | FibroGen Inc. | 5,900 | 6 |
* | Verrica Pharmaceuticals Inc. | 1,312 | 6 |
* | XOMA Corp. | 452 | 6 |
* | KORU Medical Systems Inc. | 2,233 | 6 |
* | Kezar Life Sciences Inc. | 4,176 | 6 |
* | Vor BioPharma Inc. | 2,318 | 6 |
* | Design Therapeutics Inc. | 2,331 | 6 |
* | Ikena Oncology Inc. | 1,327 | 6 |
* | Longboard Pharmaceuticals Inc. | 976 | 6 |
* | Omega Therapeutics Inc. | 1,539 | 6 |
Shares | Market Value• ($000) | ||
* | Vigil Neuroscience Inc. | 1,012 | 6 |
* | Trevi Therapeutics Inc. | 2,569 | 6 |
* | Third Harmonic Bio Inc. | 949 | 6 |
* | Nuvectis Pharma Inc. | 426 | 6 |
* | Kodiak Sciences Inc. | 2,453 | 5 |
* | Beyond Air Inc. | 1,613 | 5 |
* | Pulse Biosciences Inc. | 1,117 | 5 |
* | Bioxcel Therapeutics Inc. | 1,261 | 5 |
* | NGM Biopharmaceuticals Inc. | 2,868 | 5 |
* | Eyenovia Inc. | 2,701 | 5 |
* | Innovage Holding Corp. | 929 | 5 |
* | Reneo Pharmaceuticals Inc. | 867 | 5 |
* | Century Therapeutics Inc. | 1,931 | 5 |
* | Graphite Bio Inc. | 2,370 | 5 |
*,1 | Cano Health Inc. | 16,385 | 5 |
* | Aadi Bioscience Inc. | 737 | 5 |
* | Theseus Pharmaceuticals Inc. | 1,508 | 5 |
* | P3 Health Partners Inc. | 2,505 | 5 |
* | Biote Corp. Class A | 1,095 | 5 |
* | Ocean Biomedical Inc. | 1,001 | 5 |
* | ALX Oncology Holdings Inc. | 1,000 | 4 |
* | Nkarta Inc. | 2,230 | 4 |
*,2 | Tobira Therapeutics Inc. CVR | 937 | 4 |
* | Adicet Bio Inc. | 2,249 | 4 |
* | Akoya Biosciences Inc. | 865 | 4 |
* | PepGen Inc. | 617 | 4 |
* | Genelux Corp. | 178 | 4 |
* | Zura Bio Ltd. | 583 | 4 |
* | Aveanna Healthcare Holdings Inc. | 1,874 | 3 |
* | Vicarious Surgical Inc. | 2,781 | 3 |
*,1 | Bright Green Corp. | 7,238 | 3 |
* | Outlook Therapeutics Inc. | 8,892 | 2 |
* | Sagimet Biosciences Inc. Class A | 106 | 1 |
* | Turnstone Biologics Corp. | 120 | 1 |
*,2 | Synergy Pharmaceuticals LLC | 12,927 | — |
*,2 | OmniAb Inc. 12.5 Earnout | 408 | — |
*,2 | OmniAb Inc. 15 Earnout | 408 | — |
361,415 | |||
Industrials (13.1%) | |||
Visa Inc. Class A | 105,091 | 25,819 | |
Mastercard Inc. Class A | 54,422 | 22,457 | |
Accenture plc Class A | 41,056 | 13,293 | |
Caterpillar Inc. | 33,602 | 9,447 | |
Union Pacific Corp. | 39,629 | 8,741 | |
RTX Corp. | 94,786 | 8,155 | |
Honeywell International Inc. | 43,170 | 8,113 | |
* | Boeing Co. | 36,194 | 8,109 |
General Electric Co. | 70,394 | 8,057 | |
United Parcel Service Inc. Class B (XNYS) | 47,042 | 7,969 | |
Deere & Co. | 17,750 | 7,294 | |
Automatic Data Processing Inc. | 26,858 | 6,838 | |
Lockheed Martin Corp. | 14,686 | 6,584 | |
American Express Co. | 38,375 | 6,063 | |
Eaton Corp. plc | 25,862 | 5,958 | |
Illinois Tool Works Inc. | 19,757 | 4,887 | |
* | Fiserv Inc. | 39,913 | 4,845 |
* | PayPal Holdings Inc. | 72,917 | 4,558 |
Sherwin-Williams Co. | 15,414 | 4,188 | |
Northrop Grumman Corp. | 9,280 | 4,019 | |
CSX Corp. | 131,704 | 3,977 |
Shares | Market Value• ($000) | ||
FedEx Corp. | 15,040 | 3,926 | |
3M Co. | 35,831 | 3,822 | |
Emerson Electric Co. | 37,003 | 3,636 | |
General Dynamics Corp. | 15,826 | 3,587 | |
Parker-Hannifin Corp. | 8,310 | 3,464 | |
Carrier Global Corp. | 54,092 | 3,108 | |
* | TransDigm Group Inc. | 3,416 | 3,088 |
Trane Technologies plc | 14,855 | 3,049 | |
Norfolk Southern Corp. | 14,746 | 3,023 | |
Cintas Corp. | 5,605 | 2,826 | |
Old Dominion Freight Line Inc. | 6,413 | 2,741 | |
PACCAR Inc. | 33,203 | 2,732 | |
Johnson Controls International plc | 44,500 | 2,628 | |
Paychex Inc. | 20,926 | 2,558 | |
Capital One Financial Corp. | 24,668 | 2,526 | |
AMETEK Inc. | 14,920 | 2,380 | |
Rockwell Automation Inc. | 7,478 | 2,334 | |
DuPont de Nemours Inc. | 29,834 | 2,294 | |
Otis Worldwide Corp. | 26,774 | 2,291 | |
Verisk Analytics Inc. | 9,249 | 2,240 | |
L3Harris Technologies Inc. | 12,310 | 2,192 | |
Fidelity National Information Services Inc. | 39,088 | 2,183 | |
PPG Industries Inc. | 15,255 | 2,163 | |
Ferguson plc | 13,371 | 2,160 | |
Global Payments Inc. | 17,024 | 2,157 | |
United Rentals Inc. | 4,469 | 2,130 | |
Cummins Inc. | 9,204 | 2,117 | |
WW Grainger Inc. | 2,886 | 2,061 | |
* | Block Inc. (XNYS) | 35,294 | 2,035 |
Quanta Services Inc. | 9,339 | 1,960 | |
Vulcan Materials Co. | 8,565 | 1,869 | |
Ingersoll Rand Inc. (XYNS) | 26,396 | 1,837 | |
Fortive Corp. | 22,993 | 1,813 | |
Martin Marietta Materials Inc. | 4,000 | 1,786 | |
* | Mettler-Toledo International Inc. | 1,415 | 1,717 |
Equifax Inc. | 7,933 | 1,640 | |
Xylem Inc. | 15,412 | 1,596 | |
* | Keysight Technologies Inc. | 11,570 | 1,542 |
* | Fair Isaac Corp. | 1,574 | 1,424 |
Dover Corp. | 9,099 | 1,349 | |
Westinghouse Air Brake Technologies Corp. | 11,636 | 1,309 | |
* | FleetCor Technologies Inc. | 4,704 | 1,278 |
* | Teledyne Technologies Inc. | 3,048 | 1,275 |
Howmet Aerospace Inc. | 24,535 | 1,214 | |
* | Builders FirstSource Inc. | 8,262 | 1,198 |
Expeditors International of Washington Inc. | 10,028 | 1,170 | |
Hubbell Inc. | 3,491 | 1,138 | |
IDEX Corp. | 4,904 | 1,110 | |
Jacobs Solutions Inc. | 8,179 | 1,103 | |
Ball Corp. | 20,090 | 1,094 | |
* | Waters Corp. | 3,812 | 1,070 |
* | NU Holdings Ltd. Class A | 149,956 | 1,027 |
Textron Inc. | 13,034 | 1,013 | |
TransUnion | 12,464 | 1,012 | |
JB Hunt Transport Services Inc. | 5,307 | 997 | |
Stanley Black & Decker Inc. | 10,304 | 972 | |
* | Axon Enterprise Inc. | 4,535 | 966 |
Booz Allen Hamilton Holding Corp. | 8,436 | 956 |
Shares | Market Value• ($000) | ||
Amcor plc | 95,921 | 934 | |
Snap-on Inc. | 3,381 | 908 | |
* | Zebra Technologies Corp. Class A | 3,297 | 907 |
Nordson Corp. | 3,700 | 903 | |
Synchrony Financial | 27,702 | 894 | |
CNH Industrial NV | 63,487 | 875 | |
* | Trimble Inc. | 15,890 | 871 |
Masco Corp. | 14,744 | 870 | |
Carlisle Cos. Inc. | 3,288 | 865 | |
Graco Inc. | 10,847 | 856 | |
Packaging Corp. of America | 5,741 | 856 | |
Owens Corning | 5,877 | 846 | |
RPM International Inc. | 8,262 | 824 | |
Watsco Inc. | 2,154 | 785 | |
* | Bill Holdings Inc. | 6,722 | 775 |
Lennox International Inc. | 2,053 | 774 | |
Pentair plc | 10,675 | 750 | |
AECOM | 8,538 | 749 | |
Jack Henry & Associates Inc. | 4,756 | 746 | |
* | Saia Inc. | 1,739 | 741 |
Regal Rexnord Corp. | 4,336 | 703 | |
Lincoln Electric Holdings Inc. | 3,639 | 700 | |
HEICO Corp. | 4,087 | 690 | |
Toro Co. | 6,724 | 688 | |
CH Robinson Worldwide Inc. | 7,484 | 677 | |
EMCOR Group Inc. | 3,021 | 677 | |
Allegion plc | 5,658 | 644 | |
Crown Holdings Inc. | 6,938 | 643 | |
nVent Electric plc | 10,830 | 612 | |
* | TopBuild Corp. | 2,076 | 602 |
A O Smith Corp. | 8,030 | 582 | |
Fortune Brands Innovations Inc. | 8,264 | 570 | |
Huntington Ingalls Industries Inc. | 2,564 | 565 | |
Knight-Swift Transportation Holdings Inc. | 10,298 | 565 | |
AptarGroup Inc. | 4,239 | 562 | |
* | XPO Inc. | 7,463 | 557 |
* | WEX Inc. | 2,835 | 556 |
ITT Inc. | 5,431 | 555 | |
* | Paylocity Holding Corp. | 2,767 | 555 |
Westrock Co. | 16,833 | 551 | |
Tetra Tech Inc. | 3,470 | 546 | |
Cognex Corp. | 11,380 | 536 | |
AGCO Corp. | 4,100 | 531 | |
* | WillScot Mobile Mini Holdings Corp. | 12,907 | 529 |
Berry Global Group Inc. | 7,860 | 514 | |
Advanced Drainage Systems Inc. | 3,993 | 512 | |
Curtiss-Wright Corp. | 2,450 | 510 | |
HEICO Corp. Class A | 3,758 | 509 | |
* | Trex Co. Inc. | 7,136 | 509 |
Robert Half Inc. | 6,871 | 508 | |
* | Middleby Corp. | 3,484 | 507 |
Woodward Inc. | 3,920 | 507 | |
Donaldson Co. Inc. | 7,880 | 503 | |
* | GXO Logistics Inc. | 7,737 | 495 |
* | Chart Industries Inc. | 2,673 | 483 |
WESCO International Inc. | 2,908 | 471 | |
* | Generac Holdings Inc. | 3,887 | 462 |
MKS Instruments Inc. | 4,611 | 462 | |
MSA Safety Inc. | 2,440 | 446 | |
Graphic Packaging Holding Co. | 19,997 | 445 |
Shares | Market Value• ($000) | ||
Oshkosh Corp. | 4,284 | 445 | |
Simpson Manufacturing Co. Inc. | 2,729 | 436 | |
Eagle Materials Inc. | 2,296 | 435 | |
Landstar System Inc. | 2,286 | 434 | |
BWX Technologies Inc. | 5,847 | 431 | |
Genpact Ltd. | 11,442 | 427 | |
Comfort Systems USA Inc. | 2,244 | 414 | |
Littelfuse Inc. | 1,548 | 413 | |
* | Axalta Coating Systems Ltd. | 14,119 | 400 |
* | FTI Consulting Inc. | 2,125 | 395 |
* | MasTec Inc. | 3,971 | 395 |
* | Atkore Inc. | 2,519 | 388 |
* | API Group Corp. | 13,796 | 388 |
* | ATI Inc. | 8,509 | 386 |
Applied Industrial Technologies Inc. | 2,447 | 378 | |
Sensata Technologies Holding plc | 9,770 | 368 | |
Brunswick Corp. | 4,541 | 359 | |
Sonoco Products Co. | 6,252 | 359 | |
Allison Transmission Holdings Inc. | 5,804 | 351 | |
* | Mohawk Industries Inc. | 3,358 | 340 |
Sealed Air Corp. | 9,180 | 340 | |
Acuity Brands Inc. | 2,100 | 339 | |
Valmont Industries Inc. | 1,326 | 336 | |
Flowserve Corp. | 8,349 | 330 | |
Watts Water Technologies Inc. Class A | 1,748 | 330 | |
* | Fluor Corp. | 9,070 | 317 |
* | Kirby Corp. | 3,822 | 317 |
Maximus Inc. | 3,862 | 312 | |
Vontier Corp. | 9,925 | 312 | |
Badger Meter Inc. | 1,866 | 310 | |
MSC Industrial Direct Co. Inc. Class A | 2,977 | 304 | |
* | ExlService Holdings Inc. | 10,315 | 302 |
Ryder System Inc. | 2,949 | 297 | |
Western Union Co. | 23,930 | 296 | |
* | Affirm Holdings Inc. | 14,160 | 295 |
Triton International Ltd. | 3,462 | 290 | |
Crane Co. | 3,179 | 290 | |
Exponent Inc. | 3,212 | 289 | |
* | ASGN Inc. | 3,495 | 287 |
Zurn Elkay Water Solutions Corp. | 9,703 | 287 | |
Franklin Electric Co. Inc. | 2,947 | 285 | |
* | Summit Materials Inc. Class A | 7,595 | 284 |
* | Beacon Roofing Supply Inc. | 3,536 | 282 |
Air Lease Corp. | 6,693 | 273 | |
EnerSys | 2,604 | 273 | |
AAON Inc. | 4,299 | 271 | |
* | AZEK Co. Inc. | 7,954 | 271 |
GATX Corp. | 2,249 | 266 | |
* | Euronet Worldwide Inc. | 3,030 | 265 |
* | TriNet Group Inc. | 2,388 | 265 |
MDU Resources Group Inc. | 12,965 | 264 | |
Esab Corp. | 3,640 | 263 | |
Terex Corp. | 4,263 | 258 | |
Louisiana-Pacific Corp. | 4,118 | 257 | |
Belden Inc. | 2,718 | 255 | |
ManpowerGroup Inc. | 3,226 | 254 | |
HB Fuller Co. | 3,434 | 249 | |
Silgan Holdings Inc. | 5,408 | 244 | |
Federal Signal Corp. | 3,819 | 233 |
Shares | Market Value• ($000) | ||
FTAI Aviation Ltd. | 6,295 | 233 | |
Insperity Inc. | 2,291 | 232 | |
Herc Holdings Inc. | 1,777 | 231 | |
* | AMN Healthcare Services Inc. | 2,582 | 228 |
* | StoneCo. Ltd. Class A | 18,443 | 226 |
Armstrong World Industries Inc. | 2,914 | 223 | |
John Bean Technologies Corp. | 2,016 | 222 | |
* | SPX Technologies Inc. | 2,793 | 221 |
Brink's Co. | 2,904 | 220 | |
Installed Building Products Inc. | 1,516 | 219 | |
Otter Tail Corp. | 2,627 | 216 | |
Hillenbrand Inc. | 4,420 | 214 | |
Moog Inc. Class A | 1,822 | 212 | |
* | Flywire Corp. | 6,092 | 211 |
Matson Inc. | 2,281 | 200 | |
Crane NXT Co. | 3,360 | 199 | |
* | Shift4 Payments Inc. Class A | 3,475 | 197 |
* | Itron Inc. | 2,870 | 196 |
* | O-I Glass Inc. | 9,851 | 196 |
ABM Industries Inc. | 4,255 | 193 | |
* | Alight Inc. Class A | 25,231 | 193 |
* | Marqeta Inc. Class A | 31,049 | 191 |
* | GMS Inc. | 2,687 | 186 |
Albany International Corp. Class A | 1,989 | 184 | |
* | Dycom Industries Inc. | 1,845 | 184 |
* | Bloom Energy Corp. Class A | 12,198 | 183 |
EnPro Industries Inc. | 1,324 | 181 | |
* | Core & Main Inc. Class A | 5,520 | 181 |
Encore Wire Corp. | 1,068 | 176 | |
ESCO Technologies Inc. | 1,645 | 176 | |
CSW Industrials Inc. | 974 | 175 | |
* | CBIZ Inc. | 3,025 | 170 |
Korn Ferry | 3,340 | 170 | |
UniFirst Corp. | 960 | 169 | |
* | Sterling Infrastructure Inc. | 2,034 | 168 |
Werner Enterprises Inc. | 4,032 | 168 | |
Scorpio Tankers Inc. | 3,332 | 168 | |
* | Knife River Corp. | 3,239 | 167 |
* | ACI Worldwide Inc. | 6,842 | 166 |
* | Modine Manufacturing Co. | 3,455 | 164 |
EVERTEC Inc. | 4,107 | 163 | |
Kadant Inc. | 741 | 163 | |
ArcBest Corp. | 1,537 | 162 | |
* | Hub Group Inc. Class A | 2,065 | 161 |
* | Verra Mobility Corp. | 8,954 | 159 |
ICF International Inc. | 1,170 | 158 | |
* | AAR Corp. | 2,572 | 158 |
McGrath RentCorp. | 1,553 | 157 | |
* | Resideo Technologies Inc. | 9,213 | 155 |
* | AeroVironment Inc. | 1,567 | 152 |
* | MYR Group Inc. | 1,047 | 149 |
* | Gibraltar Industries Inc. | 1,978 | 148 |
* | Masonite International Corp. | 1,420 | 146 |
Spirit AeroSystems Holdings Inc. Class A | 6,680 | 142 | |
Mueller Water Products Inc. Class A | 9,953 | 141 | |
Veritiv Corp. | 830 | 140 | |
Kennametal Inc. | 5,205 | 138 | |
* | OSI Systems Inc. | 1,012 | 138 |
* | Remitly Global Inc. | 5,409 | 136 |
Trinity Industries Inc. | 5,238 | 131 |
Shares | Market Value• ($000) | ||
* | Hayward Holdings Inc. | 8,849 | 131 |
* | RXO Inc. | 7,272 | 131 |
* | Joby Aviation Inc. | 17,341 | 129 |
* | Huron Consulting Group Inc. | 1,251 | 125 |
* | Kratos Defense & Security Solutions Inc. | 7,775 | 125 |
Barnes Group Inc. | 3,124 | 123 | |
* | Mercury Systems Inc. | 3,126 | 123 |
Helios Technologies Inc. | 2,071 | 120 | |
* | Enovix Corp. | 8,688 | 120 |
Bread Financial Holdings Inc. | 3,161 | 119 | |
Primoris Services Corp. | 3,352 | 119 | |
Granite Construction Inc. | 2,799 | 116 | |
Forward Air Corp. | 1,624 | 115 | |
Griffon Corp. | 2,756 | 115 | |
Patrick Industries Inc. | 1,375 | 115 | |
* | PagSeguro Digital Ltd. Class A | 12,580 | 113 |
Standex International Corp. | 731 | 112 | |
International Seaways Inc. | 2,592 | 111 | |
*,1 | Rocket Lab USA Inc. | 17,629 | 111 |
Alamo Group Inc. | 642 | 110 | |
Textainer Group Holdings Ltd. | 2,778 | 110 | |
* | Mirion Technologies Inc. | 12,520 | 107 |
Greif Inc. Class A | 1,452 | 105 | |
* | Masterbrand Inc. | 8,134 | 104 |
* | PGT Innovations Inc. | 3,659 | 103 |
* | Payoneer Global Inc. | 16,626 | 103 |
Schneider National Inc. Class B | 3,461 | 100 | |
Tennant Co. | 1,187 | 98 | |
* | Hillman Solutions Corp. | 10,709 | 97 |
Enerpac Tool Group Corp. | 3,609 | 95 | |
* | AvidXchange Holdings Inc. | 9,232 | 95 |
* | Energy Recovery Inc. | 3,470 | 94 |
* | Vicor Corp. | 1,389 | 94 |
H&E Equipment Services Inc. | 2,019 | 91 | |
* | Gates Industrial Corp. plc | 7,275 | 89 |
AZZ Inc. | 1,799 | 88 | |
* | Construction Partners Inc. Class A | 2,513 | 87 |
Lindsay Corp. | 692 | 86 | |
* | NV5 Global Inc. | 847 | 86 |
Greenbrier Cos. Inc. | 1,995 | 85 | |
ADT Inc. | 13,168 | 85 | |
* | American Woodmark Corp. | 1,043 | 81 |
SFL Corp. Ltd. | 7,173 | 81 | |
DHT Holdings Inc. | 8,635 | 80 | |
* | Donnelley Financial Solutions Inc. | 1,610 | 79 |
* | JELD-WEN Holding Inc. | 5,256 | 79 |
* | CoreCivic Inc. | 7,226 | 78 |
Marten Transport Ltd. | 3,644 | 77 | |
Astec Industries Inc. | 1,395 | 76 | |
Kforce Inc. | 1,220 | 76 | |
* | Thermon Group Holdings Inc. | 2,746 | 75 |
* | LegalZoom.Com Inc. | 6,549 | 75 |
* | Air Transport Services Group Inc. | 3,331 | 72 |
* | Cimpress plc | 1,114 | 72 |
* | ZipRecruiter Inc. Class A | 4,593 | 70 |
Apogee Enterprises Inc. | 1,367 | 69 | |
Deluxe Corp. | 3,379 | 68 | |
TriMas Corp. | 2,582 | 68 | |
Wabash National Corp. | 3,024 | 68 |
Shares | Market Value• ($000) | ||
* | Montrose Environmental Group Inc. | 1,733 | 67 |
* | PureCycle Technologies Inc. | 7,371 | 66 |
Columbus McKinnon Corp. | 1,730 | 65 | |
*,1 | Archer Aviation Inc. Class A | 9,025 | 63 |
* | Janus International Group Inc. | 5,453 | 62 |
* | CIRCOR International Inc. | 1,091 | 61 |
* | Aurora Innovation Inc. | 19,093 | 61 |
Chase Corp. | 471 | 60 | |
National Presto Industries Inc. | 795 | 60 | |
* | Cross Country Healthcare Inc. | 2,216 | 57 |
Teekay Tankers Ltd. Class A | 1,409 | 57 | |
Quanex Building Products Corp. | 2,065 | 56 | |
Golden Ocean Group Ltd. | 7,680 | 56 | |
Flex LNG Ltd. | 1,806 | 55 | |
* | Leonardo DRS Inc. | 3,168 | 54 |
Dorian LPG Ltd. | 2,012 | 52 | |
Nordic American Tankers Ltd. | 12,940 | 51 | |
* | Proto Labs Inc. | 1,684 | 50 |
* | Evolv Technologies Holdings Inc. | 7,089 | 50 |
* | BlueLinx Holdings Inc. | 545 | 49 |
Napco Security Technologies Inc. | 1,988 | 49 | |
Powell Industries Inc. | 582 | 49 | |
Argan Inc. | 1,125 | 48 | |
* | SP Plus Corp. | 1,229 | 48 |
* | Transcat Inc. | 469 | 48 |
CRA International Inc. | 429 | 47 | |
First Advantage Corp. | 3,356 | 47 | |
Mesa Laboratories Inc. | 319 | 46 | |
Barrett Business Services Inc. | 475 | 45 | |
Gorman-Rupp Co. | 1,399 | 45 | |
Heidrick & Struggles International Inc. | 1,713 | 45 | |
Myers Industries Inc. | 2,324 | 44 | |
* | Nikola Corp. | 37,327 | 44 |
* | Titan Machinery Inc. | 1,371 | 43 |
Douglas Dynamics Inc. | 1,389 | 42 | |
Heartland Express Inc. | 2,765 | 42 | |
Kaman Corp. | 1,859 | 42 | |
* | Repay Holdings Corp. | 4,610 | 42 |
* | Green Dot Corp. Class A | 2,762 | 41 |
Insteel Industries Inc. | 1,172 | 41 | |
* | Titan International Inc. | 3,265 | 41 |
VSE Corp. | 715 | 41 | |
* | Virgin Galactic Holdings Inc. | 16,314 | 41 |
Ennis Inc. | 1,864 | 40 | |
* | CryoPort Inc. | 2,772 | 39 |
* | Ducommun Inc. | 829 | 38 |
* | Hudson Technologies Inc. | 3,147 | 38 |
* | Triumph Group Inc. | 4,050 | 38 |
* | IES Holdings Inc. | 492 | 37 |
Pitney Bowes Inc. | 11,314 | 37 | |
1 | Eagle Bulk Shipping Inc. | 856 | 37 |
Cadre Holdings Inc. | 1,392 | 37 | |
Kelly Services Inc. Class A | 1,922 | 36 | |
* | Manitowoc Co. Inc. | 2,112 | 36 |
* | V2X Inc. | 707 | 36 |
* | Conduent Inc. | 11,184 | 35 |
* | Franklin Covey Co. | 826 | 35 |
Shares | Market Value• ($000) | ||
* | Great Lakes Dredge & Dock Corp. | 3,998 | 35 |
* | Target Hospitality Corp. | 2,207 | 35 |
TTEC Holdings Inc. | 1,162 | 35 | |
Genco Shipping & Trading Ltd. | 2,530 | 35 | |
Greif Inc. Class B | 460 | 34 | |
Resources Connection Inc. | 2,215 | 34 | |
* | International Money Express Inc. | 1,971 | 34 |
* | Desktop Metal Inc. Class A | 18,973 | 34 |
Cass Information Systems Inc. | 864 | 33 | |
Hyster-Yale Materials Handling Inc. | 679 | 31 | |
Shyft Group Inc. | 1,995 | 31 | |
Ardmore Shipping Corp. | 2,459 | 31 | |
* | Paysafe Ltd. | 2,353 | 31 |
Covenant Logistics Group Inc. | 616 | 30 | |
* | DXP Enterprises Inc. | 844 | 30 |
* | I3 Verticals Inc. Class A | 1,252 | 30 |
Costamare Inc. | 2,899 | 30 | |
* | TrueBlue Inc. | 1,922 | 29 |
United States Lime & Minerals Inc. | 134 | 29 | |
Allient Inc. | 828 | 28 | |
REV Group Inc. | 2,082 | 28 | |
Ardagh Metal Packaging SA | 7,776 | 28 | |
Miller Industries Inc. | 679 | 27 | |
Preformed Line Products Co. | 161 | 27 | |
* | Astronics Corp. | 1,461 | 26 |
* | Vishay Precision Group Inc. | 716 | 26 |
* | CECO Environmental Corp. | 1,835 | 25 |
LSI Industries Inc. | 1,614 | 25 | |
* | Cantaloupe Inc. | 3,173 | 25 |
* | Sterling Check Corp. | 1,811 | 25 |
* | Teekay Corp. | 3,624 | 23 |
* | Aersale Corp. | 1,555 | 23 |
* | Blue Bird Corp. | 986 | 22 |
* | FARO Technologies Inc. | 1,357 | 22 |
* | Eos Energy Enterprises Inc. | 6,780 | 22 |
Trinseo plc | 2,072 | 22 | |
* | Forrester Research Inc. | 688 | 21 |
Park Aerospace Corp. | 1,569 | 21 | |
* | Tutor Perini Corp. | 2,392 | 21 |
Luxfer Holdings plc | 1,767 | 21 | |
* | Limbach Holdings Inc. | 576 | 21 |
Pactiv Evergreen Inc. | 2,495 | 21 | |
FTAI Infrastructure Inc. | 6,138 | 21 | |
* | BrightView Holdings Inc. | 2,467 | 20 |
* | Aspen Aerogels Inc. | 3,116 | 19 |
* | Custom Truck One Source Inc. | 2,861 | 19 |
* | Babcock & Wilcox Enterprises Inc. | 3,348 | 18 |
* | Commercial Vehicle Group Inc. | 1,955 | 18 |
* | Advantage Solutions Inc. | 6,500 | 18 |
* | Bowman Consulting Group Ltd. | 626 | 18 |
Eneti Inc. | 1,613 | 17 | |
* | Overseas Shipholding Group Inc. Class A | 3,578 | 16 |
* | Willdan Group Inc. | 671 | 16 |
* | CS Disco Inc. | 1,646 | 16 |
* | Radiant Logistics Inc. | 2,268 | 15 |
* | SoundThinking Inc. | 693 | 15 |
Shares | Market Value• ($000) | ||
* | Blade Air Mobility Inc. | 4,858 | 15 |
*,1 | Microvast Holdings Inc. | 6,743 | 15 |
* | Daseke Inc. | 2,552 | 14 |
* | Ranpak Holdings Corp. | 2,165 | 14 |
* | Luna Innovations Inc. | 2,002 | 14 |
Safe Bulkers Inc. | 4,305 | 14 | |
* | Skillsoft Corp. | 10,316 | 14 |
* | Core Molding Technologies Inc. | 472 | 13 |
* | IBEX Holdings Ltd. | 659 | 13 |
* | Hyliion Holdings Corp. | 10,961 | 13 |
* | Global Business Travel Group I | 1,974 | 13 |
* | Iteris Inc. | 2,617 | 12 |
Pangaea Logistics Solutions Ltd. | 2,203 | 12 | |
* | Danimer Scientific Inc. | 6,206 | 12 |
* | TuSimple Holdings Inc. Class A | 9,418 | 12 |
* | Concrete Pumping Holdings Inc. | 1,463 | 11 |
* | Distribution Solutions Group Inc. | 210 | 11 |
Universal Logistics Holdings Inc. | 411 | 11 | |
* | Workhorse Group Inc. | 13,365 | 11 |
* | Hireright Holdings Corp. | 1,008 | 11 |
Information Services Group Inc. | 1,830 | 10 | |
Kronos Worldwide Inc. | 1,203 | 10 | |
* | Tingo Group Inc. | 7,712 | 10 |
* | Performant Financial Corp. | 4,180 | 10 |
*,1 | Velo3D Inc. | 6,622 | 10 |
* | BlackSky Technology Inc. | 7,353 | 10 |
* | Acacia Research Corp. | 2,318 | 9 |
* | Gencor Industries Inc. | 618 | 9 |
Park-Ohio Holdings Corp. | 499 | 9 | |
* | Quad/Graphics Inc. | 1,804 | 9 |
* | PAM Transportation Services Inc. | 385 | 9 |
* | DHI Group Inc. | 2,151 | 8 |
* | EVI Industries Inc. | 295 | 8 |
* | Atlanticus Holdings Corp. | 225 | 8 |
* | Mayville Engineering Co. Inc. | 676 | 8 |
* | Eve Holding Inc. | 1,141 | 8 |
*,1 | Himalaya Shipping Ltd. | 1,661 | 8 |
* | Mistras Group Inc. | 1,253 | 7 |
* | Willis Lease Finance Corp. | 157 | 7 |
* | Ardagh Group SA | 848 | 7 |
Karat Packaging Inc. | 268 | 7 | |
* | INNOVATE Corp. | 4,291 | 7 |
* | Paysign Inc. | 2,701 | 6 |
Hirequest Inc. | 327 | 6 | |
* | CPI Card Group Inc. | 267 | 6 |
* | CompoSecure Inc. | 993 | 6 |
* | Terran Orbital Corp. | 4,983 | 6 |
* | SKYX Platforms Corp. | 3,581 | 6 |
* | 374Water Inc. | 3,713 | 6 |
* | Priority Technology Holdings Inc. | 713 | 3 |
* | Atmus Filtration Technologies Inc. | 111 | 3 |
374,484 | |||
Other (0.0%)4 | |||
*,2 | Aduro Biotech Inc. CVR | 656 | — |
Shares | Market Value• ($000) | ||
Real Estate (2.9%) | |||
Prologis Inc. | 59,841 | 7,432 | |
American Tower Corp. | 30,214 | 5,478 | |
Equinix Inc. | 6,053 | 4,730 | |
Crown Castle Inc. | 28,093 | 2,823 | |
Public Storage | 10,187 | 2,815 | |
Welltower Inc. | 32,254 | 2,673 | |
Digital Realty Trust Inc. | 18,906 | 2,490 | |
Realty Income Corp. | 42,948 | 2,407 | |
Simon Property Group Inc. | 21,040 | 2,388 | |
* | CoStar Group Inc. | 26,262 | 2,153 |
VICI Properties Inc. | 65,380 | 2,016 | |
Extra Space Storage Inc. | 13,598 | 1,750 | |
* | CBRE Group Inc. Class A | 20,152 | 1,714 |
AvalonBay Communities Inc. | 9,072 | 1,668 | |
Equity Residential | 24,243 | 1,572 | |
SBA Communications Corp. | 6,996 | 1,571 | |
Weyerhaeuser Co. | 47,526 | 1,556 | |
Invitation Homes Inc. | 39,686 | 1,353 | |
Alexandria Real Estate Equities Inc. | 11,347 | 1,320 | |
Iron Mountain Inc. | 18,791 | 1,194 | |
Ventas Inc. | 25,911 | 1,132 | |
Mid-America Apartment Communities Inc. | 7,520 | 1,092 | |
Essex Property Trust Inc. | 4,139 | 987 | |
Sun Communities Inc. | 7,987 | 978 | |
WP Carey Inc. | 13,815 | 899 | |
UDR Inc. | 21,381 | 853 | |
Equity LifeStyle Properties Inc. | 11,598 | 777 | |
American Homes 4 Rent Class A | 21,436 | 773 | |
Gaming and Leisure Properties Inc. | 16,169 | 766 | |
Kimco Realty Corp. | 38,982 | 738 | |
Regency Centers Corp. | 11,809 | 735 | |
Host Hotels & Resorts Inc. | 46,022 | 727 | |
Healthpeak Properties Inc. | 35,226 | 725 | |
Camden Property Trust | 6,665 | 717 | |
Rexford Industrial Realty Inc. | 13,149 | 703 | |
Boston Properties Inc. | 10,328 | 690 | |
CubeSmart | 14,380 | 600 | |
Americold Realty Trust Inc. | 17,657 | 594 | |
* | Jones Lang LaSalle Inc. | 3,193 | 552 |
* | Zillow Group Inc. Class C | 10,409 | 543 |
Federal Realty Investment Trust | 5,294 | 518 | |
EastGroup Properties Inc. | 2,850 | 512 | |
Lamar Advertising Co. Class A | 5,553 | 507 | |
Omega Healthcare Investors Inc. | 15,075 | 480 | |
NNN REIT Inc. | 11,675 | 460 | |
First Industrial Realty Trust Inc. | 8,421 | 437 | |
Healthcare Realty Trust Inc. | 24,260 | 425 | |
Brixmor Property Group Inc. | 19,171 | 421 | |
STAG Industrial Inc. | 11,515 | 421 | |
Agree Realty Corp. | 5,827 | 360 | |
Spirit Realty Capital Inc. | 9,285 | 358 | |
Apartment Income REIT Corp. | 9,722 | 331 | |
Terreno Realty Corp. | 5,153 | 314 | |
Kite Realty Group Trust | 13,872 | 313 | |
Ryman Hospitality Properties Inc. | 3,683 | 313 | |
Rayonier Inc. | 9,329 | 279 |
Shares | Market Value• ($000) | ||
Kilroy Realty Corp. | 7,420 | 274 | |
Medical Properties Trust Inc. | 38,010 | 274 | |
Vornado Realty Trust | 11,211 | 269 | |
Phillips Edison & Co. Inc. | 7,459 | 253 | |
Independence Realty Trust Inc. | 14,311 | 241 | |
PotlatchDeltic Corp. | 5,081 | 240 | |
Physicians Realty Trust | 16,720 | 233 | |
Cousins Properties Inc. | 9,658 | 227 | |
Essential Properties Realty Trust Inc. | 9,325 | 224 | |
EPR Properties | 4,753 | 213 | |
Apple Hospitality REIT Inc. | 13,739 | 206 | |
Broadstone Net Lease Inc. | 11,710 | 189 | |
Corporate Office Properties Trust | 7,214 | 187 | |
Park Hotels & Resorts Inc. | 14,317 | 184 | |
Sabra Health Care REIT Inc. | 14,632 | 183 | |
* | Zillow Group Inc. Class A | 3,557 | 181 |
SL Green Realty Corp. | 4,568 | 179 | |
LXP Industrial Trust | 18,080 | 178 | |
National Storage Affiliates Trust | 5,210 | 175 | |
DigitalBridge Group Inc. | 10,031 | 175 | |
* | Howard Hughes Holdings Inc. | 2,194 | 173 |
SITE Centers Corp. | 12,282 | 164 | |
Macerich Co. | 13,686 | 160 | |
Highwoods Properties Inc. | 6,647 | 158 | |
Innovative Industrial Properties Inc. | 1,774 | 155 | |
Tanger Factory Outlet Centers Inc. | 6,490 | 151 | |
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 6,602 | 148 | |
Douglas Emmett Inc. | 10,716 | 146 | |
National Health Investors Inc. | 2,664 | 136 | |
Four Corners Property Trust Inc. | 5,379 | 135 | |
St. Joe Co. | 2,176 | 134 | |
* | Opendoor Technologies Inc. | 34,094 | 133 |
CareTrust REIT Inc. | 6,345 | 128 | |
Equity Commonwealth | 6,723 | 128 | |
Alexander & Baldwin Inc. | 6,930 | 125 | |
Sunstone Hotel Investors Inc. | 13,569 | 122 | |
Kennedy-Wilson Holdings Inc. | 7,508 | 120 | |
Urban Edge Properties | 7,234 | 118 | |
Elme Communities | 7,252 | 112 | |
Pebblebrook Hotel Trust | 7,671 | 111 | |
DiamondRock Hospitality Co. | 13,305 | 107 | |
JBG SMITH Properties | 6,827 | 107 | |
Outfront Media Inc. | 9,358 | 106 | |
RLJ Lodging Trust | 10,177 | 102 | |
InvenTrust Properties Corp. | 4,281 | 102 | |
Getty Realty Corp. | 3,349 | 101 | |
Retail Opportunity Investments Corp. | 7,523 | 101 | |
RPT Realty | 8,696 | 99 | |
* | Veris Residential Inc. | 5,033 | 94 |
Acadia Realty Trust | 6,211 | 92 | |
* | Cushman & Wakefield plc | 9,995 | 92 |
Service Properties Trust | 10,379 | 86 | |
Xenia Hotels & Resorts Inc. | 7,243 | 85 | |
1 | eXp World Holdings Inc. | 4,395 | 84 |
LTC Properties Inc. | 2,565 | 84 |
Shares | Market Value• ($000) | ||
Easterly Government Properties Inc. | 6,221 | 83 | |
Uniti Group Inc. | 14,978 | 80 | |
* | Radius Global Infrastructure Inc. Class A (XNMS) | 5,281 | 79 |
Global Net Lease Inc. | 6,471 | 73 | |
Apartment Investment and Management Co. Class A | 9,545 | 73 | |
American Assets Trust Inc. | 3,293 | 71 | |
Empire State Realty Trust Inc. Class A | 7,858 | 69 | |
* | Compass Inc. Class A | 18,894 | 68 |
* | Redfin Corp. | 6,688 | 64 |
NETSTREIT Corp. | 3,686 | 62 | |
Centerspace | 961 | 62 | |
Necessity Retail REIT Inc. | 8,126 | 61 | |
Plymouth Industrial REIT Inc. | 2,658 | 61 | |
Newmark Group Inc. Class A | 8,448 | 60 | |
Paramount Group Inc. | 11,250 | 58 | |
Hudson Pacific Properties Inc. | 8,151 | 56 | |
UMH Properties Inc. | 3,718 | 56 | |
Piedmont Office Realty Trust Inc. Class A | 7,992 | 55 | |
* | GEO Group Inc. | 7,517 | 54 |
Armada Hoffler Properties Inc. | 4,640 | 53 | |
NexPoint Residential Trust Inc. | 1,423 | 53 | |
Brandywine Realty Trust | 10,382 | 52 | |
Chatham Lodging Trust | 5,175 | 51 | |
Community Healthcare Trust Inc. | 1,532 | 51 | |
Marcus & Millichap Inc. | 1,466 | 49 | |
* | Anywhere Real Estate Inc. | 7,081 | 46 |
Diversified Healthcare Trust | 16,657 | 45 | |
Global Medical REIT Inc. | 4,481 | 43 | |
Safehold Inc. | 1,933 | 41 | |
1 | Farmland Partners Inc. | 3,474 | 39 |
Gladstone Commercial Corp. | 2,939 | 39 | |
Universal Health Realty Income Trust | 833 | 39 | |
CBL & Associates Properties Inc. | 1,753 | 37 | |
Ares Commercial Real Estate Corp. | 3,316 | 34 | |
* | Forestar Group Inc. | 1,192 | 34 |
Summit Hotel Properties Inc. | 5,884 | 34 | |
Peakstone Realty Trust | 1,751 | 34 | |
Saul Centers Inc. | 888 | 33 | |
CTO Realty Growth Inc. | 1,687 | 30 | |
Alexander's Inc. | 148 | 28 | |
Gladstone Land Corp. | 1,746 | 27 | |
Hersha Hospitality Trust Class A | 2,607 | 26 | |
Whitestone REIT | 2,506 | 25 | |
* | FRP Holdings Inc. | 413 | 24 |
RMR Group Inc. Class A | 942 | 24 | |
Office Properties Income Trust | 3,078 | 23 | |
* | Tejon Ranch Co. | 1,292 | 22 |
Orion Office REIT Inc. | 3,807 | 22 | |
One Liberty Properties Inc. | 933 | 18 | |
RE/MAX Holdings Inc. Class A | 1,114 | 18 | |
City Office REIT Inc. | 3,154 | 16 | |
Douglas Elliman Inc. | 5,968 | 15 | |
BRT Apartments Corp. | 726 | 14 |
Shares | Market Value• ($000) | ||
* | Star Holdings | 1,044 | 14 |
Postal Realty Trust Inc. Class A | 918 | 13 | |
Braemar Hotels & Resorts Inc. | 4,387 | 12 | |
Alpine Income Property Trust Inc. | 619 | 11 | |
Clipper Realty Inc. | 1,258 | 8 | |
Stratus Properties Inc. | 305 | 8 | |
* | Maui Land & Pineapple Co. Inc. | 466 | 6 |
* | Transcontinental Realty Investors Inc. | 137 | 5 |
84,078 | |||
Technology (29.9%) | |||
Apple Inc. | 969,065 | 182,058 | |
Microsoft Corp. | 483,320 | 158,413 | |
NVIDIA Corp. | 154,332 | 76,171 | |
* | Alphabet Inc. Class A | 385,947 | 52,554 |
* | Alphabet Inc. Class C | 334,479 | 45,941 |
* | Meta Platforms Inc. Class A | 143,680 | 42,513 |
Broadcom Inc. | 26,506 | 24,462 | |
* | Adobe Inc. | 29,786 | 16,661 |
* | Salesforce Inc. | 61,526 | 13,626 |
Oracle Corp. | 98,805 | 11,895 | |
* | Advanced Micro Devices Inc. | 104,240 | 11,020 |
Texas Instruments Inc. | 58,881 | 9,896 | |
Intuit Inc. | 17,723 | 9,603 | |
Intel Corp. | 271,356 | 9,535 | |
International Business Machines Corp. | 58,952 | 8,656 | |
Applied Materials Inc. | 54,909 | 8,388 | |
QUALCOMM Inc. | 72,505 | 8,304 | |
* | ServiceNow Inc. | 13,207 | 7,777 |
Lam Research Corp. | 8,704 | 6,114 | |
Analog Devices Inc. | 32,877 | 5,976 | |
Micron Technology Inc. | 70,962 | 4,963 | |
* | Palo Alto Networks Inc. | 19,347 | 4,707 |
* | Synopsys Inc. | 9,856 | 4,523 |
KLA Corp. | 8,901 | 4,467 | |
* | Cadence Design Systems Inc. | 17,540 | 4,217 |
Roper Technologies Inc. | 6,877 | 3,432 | |
Amphenol Corp. Class A | 37,921 | 3,351 | |
Marvell Technology Inc. | 55,552 | 3,236 | |
* | Snowflake Inc. Class A | 20,139 | 3,159 |
* | Workday Inc. Class A | 12,863 | 3,145 |
* | Autodesk Inc. | 13,952 | 3,097 |
Microchip Technology Inc. | 34,941 | 2,860 | |
* | ON Semiconductor Corp. | 28,038 | 2,761 |
* | Fortinet Inc. | 42,639 | 2,567 |
Cognizant Technology Solutions Corp. Class A | 32,930 | 2,358 | |
* | VMware Inc. Class A | 13,937 | 2,352 |
* | Crowdstrike Holdings Inc. Class A | 13,725 | 2,238 |
* | Atlassian Corp. Ltd. Class A | 9,418 | 1,922 |
CDW Corp. | 8,814 | 1,861 | |
* | Palantir Technologies Inc. Class A | 121,834 | 1,825 |
* | ANSYS Inc. | 5,648 | 1,801 |
* | Gartner Inc. | 4,993 | 1,746 |
* | Datadog Inc. Class A | 17,670 | 1,705 |
HP Inc. | 56,214 | 1,670 | |
* | DoorDash Inc. Class A | 19,682 | 1,656 |
* | MongoDB Inc. | 4,275 | 1,630 |
Corning Inc. | 49,631 | 1,629 |
Shares | Market Value• ($000) | ||
* | HubSpot Inc. | 2,975 | 1,626 |
Monolithic Power Systems Inc. | 2,963 | 1,544 | |
Hewlett Packard Enterprise Co. | 84,525 | 1,436 | |
* | Splunk Inc. | 10,499 | 1,273 |
* | VeriSign Inc. | 5,868 | 1,219 |
* | Cloudflare Inc. Class A | 18,632 | 1,212 |
* | Zoom Video Communications Inc. Class A | 16,151 | 1,147 |
Skyworks Solutions Inc. | 10,329 | 1,123 | |
Teradyne Inc. | 10,199 | 1,100 | |
* | PTC Inc. | 7,462 | 1,098 |
* | Tyler Technologies Inc. | 2,680 | 1,068 |
NetApp Inc. | 13,879 | 1,065 | |
* | Pinterest Inc. Class A | 38,619 | 1,062 |
* | Akamai Technologies Inc. | 9,976 | 1,048 |
Paycom Software Inc. | 3,457 | 1,019 | |
Entegris Inc. | 9,769 | 989 | |
Jabil Inc. | 8,415 | 963 | |
* | Western Digital Corp. | 21,009 | 945 |
* | EPAM Systems Inc. | 3,619 | 937 |
* | Zscaler Inc. | 5,711 | 891 |
Vertiv Holdings Co. | 22,426 | 883 | |
* | Lattice Semiconductor Corp. | 8,906 | 866 |
Leidos Holdings Inc. | 8,860 | 864 | |
* | Match Group Inc. | 18,214 | 854 |
* | Super Micro Computer Inc. | 2,992 | 823 |
* | Okta Inc. | 9,823 | 820 |
* | Manhattan Associates Inc. | 4,012 | 813 |
SS&C Technologies Holdings Inc. | 14,079 | 808 | |
* | Black Knight Inc. | 9,758 | 739 |
Gen Digital Inc. (XNGS) | 36,020 | 729 | |
* | GoDaddy Inc. Class A | 9,931 | 720 |
* | Twilio Inc. Class A | 11,080 | 706 |
* | Ceridian HCM Holding Inc. | 9,720 | 705 |
* | Qorvo Inc. | 6,501 | 698 |
* | Unity Software Inc. | 18,784 | 696 |
* | Dynatrace Inc. | 14,237 | 686 |
Amdocs Ltd. | 7,639 | 681 | |
* | Pure Storage Inc. Class A | 18,458 | 675 |
* | DocuSign Inc. | 13,226 | 665 |
* | AppLovin Corp. Class A | 14,875 | 643 |
* | F5 Inc. | 3,904 | 639 |
Bentley Systems Inc. Class B | 12,594 | 629 | |
* | Globant SA | 2,705 | 553 |
KBR Inc. | 8,889 | 547 | |
* | Toast Inc. Class A | 23,289 | 516 |
* | Arrow Electronics Inc. | 3,778 | 504 |
National Instruments Corp. | 8,404 | 501 | |
Universal Display Corp. | 3,060 | 497 | |
* | Guidewire Software Inc. | 5,715 | 494 |
* | CACI International Inc. Class A | 1,446 | 474 |
* | Dropbox Inc. Class A | 16,800 | 467 |
* | Nutanix Inc. Class A | 14,726 | 458 |
* | SPS Commerce Inc. | 2,400 | 447 |
* | Onto Innovation Inc. | 3,113 | 433 |
Science Applications International Corp. | 3,450 | 406 | |
* | Axcelis Technologies Inc. | 2,081 | 400 |
* | Rambus Inc. | 6,951 | 393 |
* | Confluent Inc. Class A | 11,813 | 391 |
* | UiPath Inc. Class A | 24,118 | 381 |
* | Novanta Inc. | 2,263 | 378 |
* | Fabrinet | 2,354 | 378 |
Shares | Market Value• ($000) | ||
* | Wolfspeed Inc. | 7,890 | 377 |
* | Qualys Inc. | 2,367 | 368 |
* | ZoomInfo Technologies Inc. | 19,873 | 358 |
* | Workiva Inc. | 3,102 | 347 |
* | Aspen Technology Inc. | 1,775 | 344 |
* | Tenable Holdings Inc. | 7,519 | 341 |
* | Five9 Inc. | 4,702 | 340 |
* | Procore Technologies Inc. | 4,995 | 337 |
* | Smartsheet Inc. Class A | 7,971 | 333 |
Dolby Laboratories Inc. Class A | 3,797 | 321 | |
* | Elastic NV | 4,963 | 307 |
Power Integrations Inc. | 3,619 | 304 | |
* | Teradata Corp. | 6,555 | 303 |
* | DXC Technology Co. | 14,485 | 300 |
* | New Relic Inc. | 3,519 | 300 |
Avnet Inc. | 5,847 | 297 | |
* | Insight Enterprises Inc. | 1,832 | 293 |
* | MACOM Technology Solutions Holdings Inc. | 3,467 | 293 |
* | Cirrus Logic Inc. | 3,517 | 289 |
* | Coherent Corp. | 7,600 | 286 |
Advanced Energy Industries Inc. | 2,399 | 283 | |
* | DoubleVerify Holdings Inc. | 8,151 | 276 |
*,1 | GLOBALFOUNDRIES Inc. | 4,987 | 276 |
* | Silicon Laboratories Inc. | 2,017 | 272 |
TD SYNNEX Corp. | 2,675 | 272 | |
* | IAC Inc. | 4,902 | 271 |
* | NCR Corp. | 8,245 | 254 |
* | MicroStrategy Inc. Class A | 699 | 250 |
* | Box Inc. Class A | 8,921 | 236 |
* | Appfolio Inc. Class A | 1,209 | 233 |
* | Diodes Inc. | 2,848 | 233 |
Concentrix Corp. | 2,919 | 233 | |
* | Altair Engineering Inc. Class A | 3,405 | 226 |
Vishay Intertechnology Inc. | 8,171 | 224 | |
* | Clarivate plc | 30,080 | 224 |
* | Freshworks Inc. Class A | 10,217 | 223 |
* | Synaptics Inc. | 2,528 | 221 |
* | Kyndryl Holdings Inc. | 13,032 | 220 |
* | Varonis Systems Inc. | 6,811 | 218 |
* | Ziff Davis Inc. | 3,228 | 215 |
* | Blackbaud Inc. | 2,801 | 213 |
* | Blackline Inc. | 3,521 | 211 |
* | IPG Photonics Corp. | 1,927 | 209 |
* | Sanmina Corp. | 3,643 | 203 |
* | SentinelOne Inc. Class A | 12,221 | 203 |
* | CommVault Systems Inc. | 2,839 | 194 |
* | Rapid7 Inc. | 3,760 | 189 |
Dun & Bradstreet Holdings Inc. | 17,262 | 188 | |
Kulicke & Soffa Industries Inc. | 3,567 | 185 | |
* | Yelp Inc. | 4,293 | 184 |
* | Fastly Inc. Class A | 7,650 | 182 |
Amkor Technology Inc. | 6,490 | 181 | |
* | Alarm.com Holdings Inc. | 3,059 | 179 |
* | Plexus Corp. | 1,755 | 178 |
* | Envestnet Inc. | 3,222 | 176 |
* | IonQ Inc. | 10,165 | 175 |
* | FormFactor Inc. | 4,915 | 174 |
* | HashiCorp Inc. Class A | 5,920 | 173 |
* | RingCentral Inc. Class A | 5,453 | 169 |
Progress Software Corp. | 2,750 | 167 | |
* | Allegro MicroSystems Inc. | 4,269 | 163 |
Shares | Market Value• ($000) | ||
* | Rogers Corp. | 1,104 | 160 |
* | Sprout Social Inc. Class A | 2,982 | 160 |
* | nCino Inc. | 4,544 | 149 |
* | Gitlab Inc. Class A | 3,119 | 148 |
* | Ambarella Inc. | 2,364 | 147 |
* | Sitime Corp. | 1,089 | 145 |
* | Parsons Corp. | 2,527 | 144 |
* | PagerDuty Inc. | 5,512 | 142 |
* | Perficient Inc. | 2,180 | 139 |
* | CCC Intelligent Solutions Holdings Inc. | 12,612 | 135 |
* | Verint Systems Inc. | 4,127 | 134 |
Pegasystems Inc. | 2,646 | 131 | |
* | LiveRamp Holdings Inc. | 4,000 | 129 |
* | Schrodinger Inc. | 3,440 | 127 |
* | Appian Corp. Class A | 2,550 | 124 |
* | NetScout Systems Inc. | 4,308 | 123 |
* | Q2 Holdings Inc. | 3,545 | 122 |
*,1 | C3.ai Inc. Class A | 3,795 | 118 |
Xerox Holdings Corp. | 7,271 | 116 | |
Clear Secure Inc. Class A | 5,278 | 115 | |
* | Alteryx Inc. Class A | 3,844 | 113 |
* | Upwork Inc. | 7,619 | 113 |
* | Cargurus Inc. | 6,183 | 112 |
* | Cohu Inc. | 2,999 | 112 |
* | ePlus Inc. | 1,666 | 111 |
*,1 | DigitalOcean Holdings Inc. | 4,059 | 110 |
* | MaxLinear Inc. | 4,611 | 108 |
* | Asana Inc. Class A | 4,997 | 107 |
* | Bumble Inc. Class A | 6,359 | 107 |
CSG Systems International Inc. | 1,952 | 106 | |
* | PROS Holdings Inc. | 2,837 | 102 |
* | Semtech Corp. | 3,893 | 102 |
* | Credo Technology Group Holding Ltd. | 6,176 | 102 |
* | Ultra Clean Holdings Inc. | 2,844 | 100 |
* | Braze Inc. Class A | 2,163 | 100 |
* | Impinj Inc. | 1,450 | 97 |
* | TTM Technologies Inc. | 6,349 | 95 |
* | Veeco Instruments Inc. | 3,205 | 94 |
* | Veradigm Inc. | 6,836 | 91 |
* | Photronics Inc. | 3,789 | 90 |
CTS Corp. | 1,997 | 89 | |
* | Agilysys Inc. | 1,251 | 88 |
* | Squarespace Inc. Class A | 2,788 | 84 |
* | Aehr Test Systems | 1,630 | 83 |
* | Paycor HCM Inc. | 3,528 | 83 |
* | Sprinklr Inc. Class A | 5,420 | 82 |
* | SMART Global Holdings Inc. | 3,068 | 79 |
Methode Electronics Inc. | 2,229 | 72 | |
* | Zuora Inc. Class A | 7,902 | 72 |
* | PAR Technology Corp. | 1,615 | 70 |
* | Jamf Holding Corp. | 4,156 | 70 |
* | PDF Solutions Inc. | 1,902 | 69 |
* | Magnite Inc. | 8,351 | 69 |
* | Zeta Global Holdings Corp. Class A | 8,443 | 69 |
A10 Networks Inc. | 4,476 | 67 | |
Shutterstock Inc. | 1,587 | 67 | |
* | AvePoint Inc. | 9,615 | 67 |
* | Cerence Inc. | 2,531 | 66 |
Adeia Inc. | 6,560 | 66 | |
* | Model N Inc. | 2,351 | 64 |
* | Ichor Holdings Ltd. | 1,723 | 63 |
* | Everbridge Inc. | 2,516 | 62 |
* | Avid Technology Inc. | 2,195 | 59 |
Shares | Market Value• ($000) | ||
Sapiens International Corp. NV | 1,989 | 59 | |
* | E2open Parent Holdings Inc. | 12,276 | 59 |
* | N-Able Inc. | 4,304 | 58 |
* | indie Semiconductor Inc. Class A | 8,662 | 58 |
* | Yext Inc. | 6,542 | 57 |
* | Navitas Semiconductor Corp. | 6,421 | 57 |
* | Informatica Inc. Class A | 2,655 | 56 |
Benchmark Electronics Inc. | 2,055 | 53 | |
* | Digital Turbine Inc. | 5,920 | 53 |
* | ACM Research Inc. Class A | 3,037 | 53 |
* | EngageSmart Inc. | 3,001 | 53 |
* | 3D Systems Corp. | 7,908 | 50 |
* | ScanSource Inc. | 1,491 | 49 |
* | Amplitude Inc. Class A | 4,217 | 49 |
* | TechTarget Inc. | 1,656 | 48 |
* | Kimball Electronics Inc. | 1,555 | 47 |
* | Eventbrite Inc. Class A | 4,575 | 46 |
Simulations Plus Inc. | 1,036 | 46 | |
* | Grid Dynamics Holdings Inc. | 3,921 | 46 |
* | Alpha & Omega Semiconductor Ltd. | 1,406 | 44 |
* | Alkami Technology Inc. | 2,455 | 43 |
PC Connection Inc. | 793 | 42 | |
* | BigCommerce Holdings Inc. Series 1 | 3,937 | 42 |
* | Olo Inc. Class A | 6,442 | 42 |
*,1 | Xometry Inc. Class A | 2,220 | 42 |
* | Matterport Inc. | 15,700 | 42 |
* | SmartRent Inc. | 11,550 | 39 |
Hackett Group Inc. | 1,626 | 38 | |
* | SolarWinds Corp. | 3,526 | 38 |
*,1 | Planet Labs PBC | 11,578 | 38 |
* | PubMatic Inc. Class A | 2,696 | 37 |
* | Consensus Cloud Solutions Inc. | 1,173 | 37 |
* | Couchbase Inc. | 2,125 | 36 |
* | Vimeo Inc. | 8,633 | 34 |
* | Intapp Inc. | 918 | 34 |
* | OneSpan Inc. | 2,627 | 32 |
* | Mitek Systems Inc. | 2,750 | 31 |
* | nLight Inc. | 2,693 | 31 |
* | CEVA Inc. | 1,256 | 29 |
*,1 | Digimarc Corp. | 851 | 28 |
* | MicroVision Inc. | 11,180 | 28 |
* | MeridianLink Inc. | 1,606 | 28 |
American Software Inc. Class A | 2,322 | 27 | |
Ebix Inc. | 1,636 | 27 | |
* | Thoughtworks Holding Inc. | 5,432 | 27 |
NVE Corp. | 294 | 26 | |
* | Definitive Healthcare Corp. | 2,800 | 26 |
* | Applied Digital Corp. | 4,272 | 26 |
* | Bandwidth Inc. Class A | 1,703 | 24 |
* | Cleanspark Inc. | 4,525 | 22 |
* | SoundHound AI Inc. Class A | 8,818 | 22 |
* | Innodata Inc. | 1,584 | 21 |
* | Daktronics Inc. | 2,427 | 20 |
* | Domo Inc. Class B | 1,888 | 20 |
* | Weave Communications Inc. | 2,002 | 20 |
* | NerdWallet Inc. Class A | 2,127 | 19 |
* | Nextdoor Holdings Inc. | 8,922 | 19 |
* | Red Violet Inc. | 895 | 18 |
* | SEMrush Holdings Inc. Class A | 1,941 | 18 |
* | Unisys Corp. | 4,230 | 17 |
Shares | Market Value• ($000) | ||
* | Mediaalpha Inc. Class A | 1,977 | 17 |
* | Asure Software Inc. | 1,181 | 15 |
* | Brightcove Inc. | 3,823 | 15 |
* | LivePerson Inc. | 3,618 | 15 |
* | Tucows Inc. Class A | 649 | 15 |
ON24 Inc. | 2,209 | 15 | |
* | EverCommerce Inc. | 1,398 | 15 |
* | Expensify Inc. Class A | 3,439 | 15 |
* | NextNav Inc. | 3,566 | 15 |
Immersion Corp. | 1,921 | 14 | |
* | eGain Corp. | 1,965 | 13 |
* | Enfusion Inc. Class A | 1,461 | 13 |
* | Grindr Inc. | 2,516 | 13 |
* | TrueCar Inc. | 5,015 | 12 |
* | inTEST Corp. | 679 | 12 |
* | Rackspace Technology Inc. | 4,643 | 12 |
*,1 | Cipher Mining Inc. | 3,610 | 12 |
* | EverQuote Inc. Class A | 1,754 | 11 |
* | Bit Digital Inc. | 4,561 | 11 |
* | Rimini Street Inc. | 3,927 | 10 |
* | Viant Technology Inc. Class A | 1,513 | 10 |
* | Vivid Seats Inc. Class A | 1,407 | 10 |
* | CoreCard Corp. | 435 | 9 |
Richardson Electronics Ltd. | 731 | 9 | |
* | LiveVox Holdings Inc. | 2,648 | 9 |
* | FiscalNote Holdings Inc. | 3,899 | 9 |
* | Atomera Inc. | 1,030 | 7 |
* | Terawulf Inc. | 3,274 | 7 |
* | Intevac Inc. | 1,761 | 6 |
* | SkyWater Technology Inc. | 962 | 6 |
* | Aeva Technologies Inc. | 5,329 | 5 |
* | BigBear.ai Holdings Inc. | 2,825 | 5 |
*,1 | Veritone Inc. | 1,183 | 4 |
* | System1 Inc. | 1,497 | 3 |
856,400 | |||
Telecommunications (2.3%) | |||
Cisco Systems Inc. | 266,094 | 15,260 | |
Comcast Corp. Class A | 268,586 | 12,559 | |
Verizon Communications Inc. | 273,517 | 9,568 | |
AT&T Inc. | 465,374 | 6,883 | |
* | T-Mobile US Inc. | 35,192 | 4,795 |
* | Arista Networks Inc. | 16,296 | 3,181 |
Motorola Solutions Inc. | 10,750 | 3,048 | |
* | Charter Communications Inc. Class A | 6,656 | 2,916 |
* | Liberty Broadband Corp. Class C | 7,506 | 702 |
* | Roku Inc. | 8,056 | 654 |
Juniper Networks Inc. | 21,001 | 612 | |
* | Ciena Corp. | 10,278 | 514 |
Iridium Communications Inc. | 7,976 | 390 | |
* | Frontier Communications Parent Inc. | 15,686 | 251 |
* | Lumentum Holdings Inc. | 4,357 | 236 |
Cable One Inc. | 358 | 233 | |
* | Extreme Networks Inc. | 8,060 | 221 |
Cogent Communications Holdings Inc. | 2,742 | 194 | |
* | Calix Inc. | 3,668 | 171 |
InterDigital Inc. | 1,734 | 150 | |
* | Viavi Solutions Inc. | 14,282 | 149 |
Telephone and Data Systems Inc. | 6,782 | 146 | |
* | ViaSat Inc. | 4,647 | 129 |
* | Liberty Broadband Corp. Class A | 1,179 | 110 |
* | Lumen Technologies Inc. | 65,533 | 104 |
Shares | Market Value• ($000) | ||
* | DISH Network Corp. Class A | 15,956 | 96 |
* | Harmonic Inc. | 6,914 | 74 |
* | Digi International Inc. | 2,191 | 73 |
Shenandoah Telecommunications Co. | 2,891 | 66 | |
* | Liberty Latin America Ltd. Class C | 7,410 | 66 |
* | Globalstar Inc. | 42,555 | 61 |
* | Infinera Corp. | 12,105 | 57 |
* | Gogo Inc. | 4,112 | 47 |
Ubiquiti Inc. | 259 | 45 | |
* | Lightwave Logic Inc. | 7,102 | 45 |
* | CommScope Holding Co. Inc. | 12,795 | 43 |
* | EchoStar Corp. Class A | 2,424 | 42 |
Adtran Holdings Inc. | 4,742 | 41 | |
* | Anterix Inc. | 1,198 | 40 |
* | Liberty Latin America Ltd. Class A | 4,092 | 37 |
Bel Fuse Inc. Class B | 655 | 34 | |
* | fuboTV Inc. | 13,472 | 32 |
* | Clearfield Inc. | 861 | 30 |
* | Xperi Inc. | 2,527 | 30 |
* | WideOpenWest Inc. | 3,435 | 28 |
* | NETGEAR Inc. | 2,068 | 27 |
ATN International Inc. | 729 | 26 | |
* | IDT Corp. Class B | 1,131 | 26 |
* | 8x8 Inc. | 7,672 | 25 |
* | Ooma Inc. | 1,790 | 25 |
* | Aviat Networks Inc. | 681 | 24 |
Comtech Telecommunications Corp. | 2,022 | 20 | |
* | Ribbon Communications Inc. | 6,111 | 18 |
Spok Holdings Inc. | 1,081 | 15 | |
* | AST SpaceMobile Inc. | 3,781 | 15 |
* | Consolidated Communications Holdings Inc. | 3,667 | 14 |
* | Kaltura Inc. | 5,162 | 10 |
* | Cambium Networks Corp. | 952 | 9 |
* | Akoustis Technologies Inc. | 4,997 | 8 |
* | KVH Industries Inc. | 1,109 | 6 |
* | Charge Enterprises Inc. | 10,774 | 6 |
* | DZS Inc. | 1,615 | 4 |
*,2 | GCI Liberty Inc. | 5,064 | — |
64,441 | |||
Utilities (2.6%) | |||
NextEra Energy Inc. | 131,347 | 8,774 | |
Southern Co. | 70,715 | 4,790 | |
Duke Energy Corp. | 50,009 | 4,441 | |
Waste Management Inc. | 26,419 | 4,142 | |
Sempra Energy (XNYS) | 40,690 | 2,857 | |
Dominion Energy Inc. | 54,144 | 2,628 | |
American Electric Power Co. Inc. | 33,413 | 2,620 | |
Exelon Corp. | 64,654 | 2,594 | |
Constellation Energy Corp. | 21,278 | 2,216 | |
Xcel Energy Inc. | 35,731 | 2,041 | |
Consolidated Edison Inc. | 22,495 | 2,001 | |
Public Service Enterprise Group Inc. | 32,197 | 1,967 | |
Republic Services Inc. | 13,480 | 1,943 | |
* | PG&E Corp. | 116,818 | 1,904 |
American Water Works Co. Inc. | 12,666 | 1,757 | |
WEC Energy Group Inc. | 20,423 | 1,718 | |
Edison International | 24,451 | 1,683 |
Shares | Market Value• ($000) | ||
Eversource Energy | 22,853 | 1,458 | |
DTE Energy Co. | 13,350 | 1,380 | |
Ameren Corp. | 17,090 | 1,355 | |
Entergy Corp. | 13,781 | 1,313 | |
FirstEnergy Corp. | 35,684 | 1,287 | |
PPL Corp. | 47,795 | 1,191 | |
CenterPoint Energy Inc. | 41,203 | 1,149 | |
Atmos Energy Corp. | 9,295 | 1,078 | |
CMS Energy Corp. | 19,124 | 1,075 | |
Alliant Energy Corp. | 16,217 | 814 | |
Evergy Inc. | 14,466 | 795 | |
AES Corp. | 43,087 | 773 | |
Vistra Corp. | 24,383 | 766 | |
NiSource Inc. | 27,083 | 725 | |
Essential Utilities Inc. | 15,803 | 583 | |
NRG Energy Inc. | 15,258 | 573 | |
Pinnacle West Capital Corp. | 7,406 | 572 | |
* | Clean Harbors Inc. | 3,369 | 571 |
OGE Energy Corp. | 12,790 | 435 | |
UGI Corp. | 13,370 | 337 | |
National Fuel Gas Co. | 5,886 | 316 | |
IDACORP Inc. | 3,223 | 309 | |
* | Casella Waste Systems Inc. Class A | 3,674 | 289 |
Portland General Electric Co. | 6,415 | 281 | |
ONE Gas Inc. | 3,612 | 262 | |
* | Stericycle Inc. | 5,891 | 260 |
New Jersey Resources Corp. | 6,143 | 259 | |
Ormat Technologies Inc. (XNYS) | 3,342 | 254 | |
Southwest Gas Holdings Inc. | 4,002 | 248 | |
Black Hills Corp. | 4,460 | 245 | |
1 | Brookfield Infrastructure Corp. Class A (XTSE) | 6,282 | 244 |
PNM Resources Inc. | 5,462 | 242 | |
Brookfield Renewable Corp. Class A | 8,204 | 229 | |
* | Sunrun Inc. | 13,342 | 209 |
ALLETE Inc. | 3,650 | 200 | |
American States Water Co. | 2,338 | 197 | |
NorthWestern Corp. | 3,805 | 192 | |
Spire Inc. | 3,245 | 190 | |
California Water Service Group | 3,589 | 180 | |
MGE Energy Inc. | 2,327 | 169 | |
Avista Corp. | 4,699 | 156 | |
Avangrid Inc. | 4,460 | 154 | |
SJW Group | 1,990 | 131 | |
Chesapeake Utilities Corp. | 1,111 | 122 | |
Clearway Energy Inc. Class C | 4,718 | 117 | |
Hawaiian Electric Industries Inc. | 6,964 | 98 | |
*,1 | Sunnova Energy International Inc. | 6,285 | 87 |
Northwest Natural Holding Co. | 2,202 | 86 | |
Middlesex Water Co. | 1,132 | 85 | |
Clearway Energy Inc. Class A | 2,832 | 66 | |
Unitil Corp. | 987 | 48 | |
York Water Co. | 1,050 | 43 | |
* | Heritage-Crystal Clean Inc. | 921 | 42 |
*,1 | Li-Cycle Holdings Corp. | 9,005 | 40 |
* | Enviri Corp. | 4,566 | 34 |
* | Altus Power Inc. | 4,776 | 31 |
Consolidated Water Co. Ltd. | 964 | 26 | |
Artesian Resources Corp. Class A | 469 | 22 |
Shares | Market Value• ($000) | ||
Excelerate Energy Inc. Class A | 1,070 | 20 | |
*,1 | NuScale Power Corp. | 3,353 | 20 |
Genie Energy Ltd. Class B | 1,253 | 19 | |
Aris Water Solution Inc. Class A | 1,895 | 19 | |
* | Vertex Energy Inc. | 4,210 | 18 |
* | Pure Cycle Corp. | 1,166 | 13 |
* | Cadiz Inc. | 2,631 | 11 |
RGC Resources Inc. | 516 | 9 | |
Global Water Resources Inc. | 712 | 8 | |
74,606 | |||
Total Common Stocks (Cost $2,193,400) | 2,859,619 | ||
Temporary Cash Investments (0.1%) | |||
Money Market Fund (0.1%) | |||
5,6 | Vanguard Market Liquidity Fund, 5.384% (Cost $3,141) | 31,425 | 3,142 |
Total Investments (100.0%) (Cost $2,196,541) | 2,862,761 | ||
Other Assets and Liabilities—Net (0.0%) | 609 | ||
Net Assets (100%) | 2,863,370 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,802,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Restricted securities totaling $13,000, representing 0.0% of net assets. |
4 | “Other” represents securities that are not classified by the fund’s benchmark index. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
6 | Collateral of $3,060,000 was received for securities on loan. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2023 | 6 | 570 | — |
E-mini S&P 500 Index | September 2023 | 15 | 3,387 | 12 |
12 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $2,193,400) | 2,859,619 |
Affiliated Issuers (Cost $3,141) | 3,142 |
Total Investments in Securities | 2,862,761 |
Investment in Vanguard | 94 |
Cash Collateral Pledged—Futures Contracts | 30 |
Receivables for Investment Securities Sold | 518 |
Receivables for Accrued Income | 4,113 |
Receivables for Capital Shares Issued | 6,601 |
Variation Margin Receivable—Futures Contracts | 1 |
Total Assets | 2,874,118 |
Liabilities | |
Due to Custodian | 3,743 |
Payables for Investment Securities Purchased | 3,826 |
Collateral for Securities on Loan | 3,060 |
Payables for Capital Shares Redeemed | 6 |
Payables to Vanguard | 113 |
Total Liabilities | 10,748 |
Net Assets | 2,863,370 |
1 Includes $2,802,000 of securities on loan. | |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 2,352,512 |
Total Distributable Earnings (Loss) | 510,858 |
Net Assets | 2,863,370 |
ETF Shares—Net Assets | |
Applicable to 8,975,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,801,875 |
Net Asset Value Per Share—ETF Shares | $200.77 |
Institutional Shares—Net Assets | |
Applicable to 2,731,382 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,061,495 |
Net Asset Value Per Share—Institutional Shares | $388.63 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 48,608 |
Interest2 | 394 |
Securities Lending—Net | 570 |
Total Income | 49,572 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 67 |
Management and Administrative—ETF Shares | 866 |
Management and Administrative—Institutional Shares | 708 |
Marketing and Distribution—ETF Shares | 90 |
Marketing and Distribution—Institutional Shares | 55 |
Custodian Fees | 771 |
Auditing Fees | 28 |
Shareholders’ Reports—ETF Shares | 44 |
Shareholders’ Reports—Institutional Shares | 2 |
Trustees’ Fees and Expenses | 2 |
Other Expenses | 25 |
Total Expenses | 2,658 |
Expenses Paid Indirectly | (4) |
Net Expenses | 2,654 |
Net Investment Income | 46,918 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 51,302 |
Futures Contracts | 15 |
Realized Net Gain (Loss) | 51,317 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 334,276 |
Futures Contracts | 340 |
Change in Unrealized Appreciation (Depreciation) | 334,616 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 432,851 |
1 | Dividends are net of foreign withholding taxes of $8,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $371,000, ($4,000), less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $141,418,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 46,918 | 30,384 |
Realized Net Gain (Loss) | 51,317 | 197,184 |
Change in Unrealized Appreciation (Depreciation) | 334,616 | (538,691) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 432,851 | (311,123) |
Distributions | ||
ETF Shares | (23,996) | (15,187) |
Institutional Shares | (21,655) | (13,526) |
Total Distributions | (45,651) | (28,713) |
Capital Share Transactions | ||
ETF Shares | 368,504 | 275,640 |
Institutional Shares | (556,884) | 450,842 |
Net Increase (Decrease) from Capital Share Transactions | (188,380) | 726,482 |
Total Increase (Decrease) | 198,820 | 386,646 |
Net Assets | ||
Beginning of Period | 2,664,550 | 2,277,904 |
End of Period | 2,863,370 | 2,664,550 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $177.97 | $208.13 | $158.71 | $133.26 | $133.98 |
Investment Operations | |||||
Net Investment Income1 | 2.897 | 2.662 | 2.385 | 2.416 | 2.312 |
Net Realized and Unrealized Gain (Loss) on Investments | 22.832 | (30.247) | 49.386 | 25.494 | (.730) |
Total from Investment Operations | 25.729 | (27.585) | 51.771 | 27.910 | 1.582 |
Distributions | |||||
Dividends from Net Investment Income | (2.929) | (2.575) | (2.351) | (2.460) | (2.302) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (2.929) | (2.575) | (2.351) | (2.460) | (2.302) |
Net Asset Value, End of Period | $200.77 | $177.97 | $208.13 | $158.71 | $133.26 |
Total Return | 14.68% | -13.36% | 32.90% | 21.31% | 1.25% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,802 | $1,219 | $1,124 | $710 | $463 |
Ratio of Total Expenses to Average Net Assets | 0.10%2 | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.58% | 1.36% | 1.31% | 1.74% | 1.79% |
Portfolio Turnover Rate3 | 11% | 8% | 10% | 8% | 10% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.10%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $344.48 | $402.86 | $307.19 | $257.87 | $259.33 |
Investment Operations | |||||
Net Investment Income1 | 5.690 | 5.323 | 4.689 | 4.739 | 4.499 |
Net Realized and Unrealized Gain (Loss) on Investments | 44.177 | (58.648) | 95.580 | 49.347 | (1.394) |
Total from Investment Operations | 49.867 | (53.325) | 100.269 | 54.086 | 3.105 |
Distributions | |||||
Dividends from Net Investment Income | (5.717) | (5.055) | (4.599) | (4.766) | (4.565) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (5.717) | (5.055) | (4.599) | (4.766) | (4.565) |
Net Asset Value, End of Period | $388.63 | $344.48 | $402.86 | $307.19 | $257.87 |
Total Return | 14.70% | -13.34% | 32.94% | 21.38% | 1.27% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,061 | $1,445 | $1,154 | $1,018 | $871 |
Ratio of Total Expenses to Average Net Assets | 0.08%2 | 0.08% | 0.08% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 1.62% | 1.40% | 1.34% | 1.76% | 1.81% |
Portfolio Turnover Rate3 | 11% | 8% | 10% | 8% | 10% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended August 31, 2023, custodian fee offset arrangements reduced the fund’s expenses by $4,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 2,859,397 | 20 | 202 | 2,859,619 |
Temporary Cash Investments | 3,142 | — | — | 3,142 |
Total | 2,862,539 | 20 | 202 | 2,862,761 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 12 | — | — | 12 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions and passive foreign investment companies were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 141,373 |
Total Distributable Earnings (Loss) | (141,373) |
Amount ($000) | |
Undistributed Ordinary Income | 8,599 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 658,076 |
Capital Loss Carryforwards | (155,817) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 510,858 |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 45,651 | 28,713 |
Long-Term Capital Gains | — | — |
Total | 45,651 | 28,713 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 2,204,685 |
Gross Unrealized Appreciation | 786,297 |
Gross Unrealized Depreciation | (128,221) |
Net Unrealized Appreciation (Depreciation) | 658,076 |
F. | During the year ended August 31, 2023, the fund purchased $913,366,000 of investment securities and sold $1,094,612,000 of investment securities, other than temporary cash investments. Purchases and sales include $584,022,000 and $281,289,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital share transactions for each class of shares were: |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 652,179 | 3,700 | 604,261 | 3,075 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (283,675) | (1,575) | (328,621) | (1,625) | |
Net Increase (Decrease)—ETF Shares | 368,504 | 2,125 | 275,640 | 1,450 |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 296,740 | 834 | 858,256 | 2,365 | |
Issued in Lieu of Cash Distributions | 19,707 | 58 | 11,990 | 31 | |
Redeemed | (873,331) | (2,357) | (419,404) | (1,064) | |
Net Increase (Decrease)—Institutional Shares | (556,884) | (1,465) | 450,842 | 1,332 |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to August 31, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
October 19, 2023
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Vanguard Short-Term Treasury Index Fund |
Vanguard Intermediate-Term Treasury Index Fund |
Vanguard Long-Term Treasury Index Fund |
1 | |
2 | |
4 | |
21 | |
38 | |
57 | |
59 |
• | For the 12 months ended August 31, 2023, returns for the three Vanguard Treasury bond index funds ranged from –9.73% for Admiral Shares of the Long-Term Treasury Index Fund to 1.23% for ETF Shares (based on net asset value) of the Short-Term Treasury Index Fund. The returns of all share classes were in line with their target indexes. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks, including the Federal Reserve, fanned fears of recession and weighed on bond prices, the economy proved more resilient than expected. |
• | Yields of U.S. Treasuries rose across the maturity spectrum, with more movement at the shorter end of the yield curve. The broad U.S. investment-grade bond market returned –1.05%, as measured by the Bloomberg U.S. Aggregate Float Adjusted Index. |
• | Treasuries, as measured by the Bloomberg U.S. Treasury Index, returned –2.07%. Corporate bonds, as measured by the Bloomberg U.S. Corporate Bond Index, returned 0.90%. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Short-Term Treasury Index Fund | |||
ETF Shares | $1,000.00 | $1,017.40 | $0.20 |
Admiral™ Shares | 1,000.00 | 1,017.30 | 0.36 |
Institutional Shares | 1,000.00 | 1,017.20 | 0.25 |
Intermediate-Term Treasury Index Fund | |||
ETF Shares | $1,000.00 | $1,011.70 | $0.20 |
Admiral Shares | 1,000.00 | 1,011.90 | 0.35 |
Institutional Shares | 1,000.00 | 1,011.40 | 0.25 |
Long-Term Treasury Index Fund | |||
ETF Shares | $1,000.00 | $973.60 | $0.20 |
Admiral Shares | 1,000.00 | 973.40 | 0.35 |
Institutional Shares | 1,000.00 | 973.80 | 0.25 |
Based on Hypothetical 5% Yearly Return | |||
Short-Term Treasury Index Fund | |||
ETF Shares | $1,000.00 | $1,025.00 | $0.20 |
Admiral Shares | 1,000.00 | 1,024.85 | 0.36 |
Institutional Shares | 1,000.00 | 1,024.95 | 0.26 |
Intermediate-Term Treasury Index Fund | |||
ETF Shares | $1,000.00 | $1,025.00 | $0.20 |
Admiral Shares | 1,000.00 | 1,024.85 | 0.36 |
Institutional Shares | 1,000.00 | 1,024.95 | 0.26 |
Long-Term Treasury Index Fund | |||
ETF Shares | $1,000.00 | $1,025.00 | $0.20 |
Admiral Shares | 1,000.00 | 1,024.85 | 0.36 |
Institutional Shares | 1,000.00 | 1,024.95 | 0.26 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Short-Term Treasury Index Fund ETF Shares Net Asset Value | 1.23% | 0.97% | 0.76% | $10,790 | |
Short-Term Treasury Index Fund ETF Shares Market Price | 1.28 | 0.98 | 0.77 | 10,796 | |
Spliced Bloomberg U.S. Treasury 1–3 Year Index | 1.27 | 1.01 | 0.83 | 10,857 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Short-Term Treasury Index Fund Admiral Shares | 1.22% | 0.95% | 0.75% | $10,777 | |
Spliced Bloomberg U.S. Treasury 1–3 Year Index | 1.27 | 1.01 | 0.83 | 10,857 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Short-Term Treasury Index Fund Institutional Shares | 1.21% | 0.97% | 0.77% | $5,399,331 | |
Spliced Bloomberg U.S. Treasury 1–3 Year Index | 1.27 | 1.01 | 0.83 | 5,428,402 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 5,805,239 |
Cumulative Returns of ETF Shares: August 31, 2013, Through August 31, 2023 | |||
One Year | Five Years | Ten Years | |
Short-Term Treasury Index Fund ETF Shares Market Price | 1.28% | 5.00% | 7.96% |
Short-Term Treasury Index Fund ETF Shares Net Asset Value | 1.23 | 4.96 | 7.90 |
Spliced Bloomberg U.S. Treasury 1–3 Year Index | 1.27 | 5.17 | 8.57 |
1 - 2 Years | 55.6% |
2 - 3 Years | 44.4 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (99.2%) | ||||||
U.S. Government Securities (99.2%) | ||||||
United States Treasury Note/Bond | 0.375% | 9/15/24 | 419,405 | 398,435 | ||
United States Treasury Note/Bond | 1.500% | 9/30/24 | 228,086 | 218,927 | ||
United States Treasury Note/Bond | 2.125% | 9/30/24 | 190,744 | 184,336 | ||
United States Treasury Note/Bond | 4.250% | 9/30/24 | 331,688 | 327,956 | ||
United States Treasury Note/Bond | 0.625% | 10/15/24 | 475,300 | 451,164 | ||
United States Treasury Note/Bond | 1.500% | 10/31/24 | 212,382 | 203,356 | ||
United States Treasury Note/Bond | 2.250% | 10/31/24 | 153,934 | 148,667 | ||
United States Treasury Note/Bond | 4.375% | 10/31/24 | 324,069 | 320,626 | ||
United States Treasury Note/Bond | 0.750% | 11/15/24 | 400,985 | 379,933 | ||
United States Treasury Note/Bond | 2.250% | 11/15/24 | 439,859 | 424,258 | ||
United States Treasury Note/Bond | 7.500% | 11/15/24 | 8,585 | 8,801 | ||
United States Treasury Note/Bond | 1.500% | 11/30/24 | 196,301 | 187,406 | ||
United States Treasury Note/Bond | 2.125% | 11/30/24 | 137,481 | 132,304 | ||
United States Treasury Note/Bond | 4.500% | 11/30/24 | 350,107 | 346,825 | ||
United States Treasury Note/Bond | 1.000% | 12/15/24 | 425,726 | 403,442 | ||
United States Treasury Note/Bond | 1.750% | 12/31/24 | 209,799 | 200,522 | ||
United States Treasury Note/Bond | 2.250% | 12/31/24 | 213,810 | 205,725 | ||
United States Treasury Note/Bond | 4.250% | 12/31/24 | 323,912 | 319,914 | ||
United States Treasury Note/Bond | 1.125% | 1/15/25 | 423,357 | 400,800 | ||
United States Treasury Note/Bond | 1.375% | 1/31/25 | 223,859 | 212,386 | ||
United States Treasury Note/Bond | 2.500% | 1/31/25 | 225,596 | 217,418 | ||
United States Treasury Note/Bond | 4.125% | 1/31/25 | 302,862 | 298,556 | ||
United States Treasury Note/Bond | 1.500% | 2/15/25 | 359,968 | 341,688 | ||
United States Treasury Note/Bond | 2.000% | 2/15/25 | 425,190 | 406,588 | ||
United States Treasury Note/Bond | 7.625% | 2/15/25 | 10,088 | 10,416 | ||
United States Treasury Note/Bond | 1.125% | 2/28/25 | 247,255 | 233,154 | ||
United States Treasury Note/Bond | 2.750% | 2/28/25 | 181,077 | 174,937 | ||
United States Treasury Note/Bond | 4.625% | 2/28/25 | 323,914 | 321,636 | ||
United States Treasury Note/Bond | 1.750% | 3/15/25 | 381,131 | 362,432 | ||
United States Treasury Note/Bond | 0.500% | 3/31/25 | 302,957 | 282,129 | ||
United States Treasury Note/Bond | 2.625% | 3/31/25 | 100,663 | 96,935 | ||
United States Treasury Note/Bond | 3.875% | 3/31/25 | 322,497 | 316,652 | ||
United States Treasury Note/Bond | 2.625% | 4/15/25 | 451,915 | 434,968 | ||
United States Treasury Note/Bond | 0.375% | 4/30/25 | 325,949 | 301,961 | ||
United States Treasury Note/Bond | 2.875% | 4/30/25 | 189,419 | 182,937 | ||
United States Treasury Note/Bond | 3.875% | 4/30/25 | 324,529 | 318,647 | ||
United States Treasury Note/Bond | 2.125% | 5/15/25 | 374,356 | 356,866 | ||
United States Treasury Note/Bond | 2.750% | 5/15/25 | 448,732 | 432,325 | ||
United States Treasury Note/Bond | 0.250% | 5/31/25 | 291,171 | 268,287 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Note/Bond | 2.875% | 5/31/25 | 181,106 | 174,711 | ||
United States Treasury Note/Bond | 4.250% | 5/31/25 | 242,784 | 239,825 | ||
United States Treasury Note/Bond | 2.875% | 6/15/25 | 352,876 | 340,360 | ||
United States Treasury Note/Bond | 0.250% | 6/30/25 | 343,111 | 315,287 | ||
United States Treasury Note/Bond | 2.750% | 6/30/25 | 97,399 | 93,686 | ||
United States Treasury Note/Bond | 4.625% | 6/30/25 | 323,786 | 322,015 | ||
United States Treasury Note/Bond | 3.000% | 7/15/25 | 332,649 | 321,214 | ||
United States Treasury Note/Bond | 0.250% | 7/31/25 | 350,457 | 320,942 | ||
United States Treasury Note/Bond | 2.875% | 7/31/25 | 163,342 | 157,293 | ||
United States Treasury Note/Bond | 4.750% | 7/31/25 | 322,670 | 321,813 | ||
United States Treasury Note/Bond | 2.000% | 8/15/25 | 400,120 | 378,739 | ||
United States Treasury Note/Bond | 3.125% | 8/15/25 | 326,521 | 315,858 | ||
United States Treasury Note/Bond | 6.875% | 8/15/25 | 8,269 | 8,551 | ||
United States Treasury Note/Bond | 0.250% | 8/31/25 | 341,299 | 311,542 | ||
United States Treasury Note/Bond | 2.750% | 8/31/25 | 150,476 | 144,433 | ||
United States Treasury Note/Bond | 5.000% | 8/31/25 | 300,630 | 301,475 | ||
United States Treasury Note/Bond | 3.500% | 9/15/25 | 318,129 | 309,828 | ||
United States Treasury Note/Bond | 0.250% | 9/30/25 | 392,057 | 357,139 | ||
United States Treasury Note/Bond | 3.000% | 9/30/25 | 171,967 | 165,733 | ||
United States Treasury Note/Bond | 4.250% | 10/15/25 | 320,820 | 317,211 | ||
United States Treasury Note/Bond | 0.250% | 10/31/25 | 373,800 | 339,340 | ||
United States Treasury Note/Bond | 3.000% | 10/31/25 | 150,438 | 144,891 | ||
United States Treasury Note/Bond | 2.250% | 11/15/25 | 450,414 | 426,626 | ||
United States Treasury Note/Bond | 4.500% | 11/15/25 | 309,857 | 307,920 | ||
United States Treasury Note/Bond | 0.375% | 11/30/25 | 386,140 | 350,422 | ||
United States Treasury Note/Bond | 2.875% | 11/30/25 | 205,822 | 197,589 | ||
United States Treasury Note/Bond | 4.000% | 12/15/25 | 382,284 | 376,072 | ||
United States Treasury Note/Bond | 0.375% | 12/31/25 | 319,330 | 289,293 | ||
United States Treasury Note/Bond | 2.625% | 12/31/25 | 167,786 | 160,026 | ||
United States Treasury Note/Bond | 3.875% | 1/15/26 | 312,630 | 306,719 | ||
United States Treasury Note/Bond | 0.375% | 1/31/26 | 463,334 | 418,087 | ||
United States Treasury Note/Bond | 2.625% | 1/31/26 | 197,901 | 188,563 | ||
United States Treasury Note/Bond | 1.625% | 2/15/26 | 374,588 | 348,133 | ||
United States Treasury Note/Bond | 4.000% | 2/15/26 | 336,540 | 331,176 | ||
United States Treasury Note/Bond | 6.000% | 2/15/26 | 37,208 | 38,179 | ||
United States Treasury Note/Bond | 0.500% | 2/28/26 | 463,968 | 418,876 | ||
United States Treasury Note/Bond | 2.500% | 2/28/26 | 201,032 | 190,855 | ||
United States Treasury Note/Bond | 4.625% | 3/15/26 | 323,791 | 323,538 | ||
United States Treasury Note/Bond | 0.750% | 3/31/26 | 425,815 | 386,427 | ||
United States Treasury Note/Bond | 2.250% | 3/31/26 | 198,753 | 187,387 | ||
United States Treasury Note/Bond | 3.750% | 4/15/26 | 310,966 | 304,212 | ||
United States Treasury Note/Bond | 0.750% | 4/30/26 | 413,587 | 374,038 | ||
United States Treasury Note/Bond | 2.375% | 4/30/26 | 149,811 | 141,478 | ||
United States Treasury Note/Bond | 1.625% | 5/15/26 | 392,974 | 363,378 | ||
United States Treasury Note/Bond | 3.625% | 5/15/26 | 309,501 | 301,812 | ||
United States Treasury Note/Bond | 0.750% | 5/31/26 | 455,075 | 410,421 | ||
United States Treasury Note/Bond | 2.125% | 5/31/26 | 161,913 | 151,692 | ||
United States Treasury Note/Bond | 4.125% | 6/15/26 | 308,370 | 304,804 | ||
United States Treasury Note/Bond | 0.875% | 6/30/26 | 399,686 | 361,279 | ||
United States Treasury Note/Bond | 1.875% | 6/30/26 | 182,558 | 169,750 | ||
United States Treasury Note/Bond | 4.500% | 7/15/26 | 307,320 | 306,792 | ||
United States Treasury Note/Bond | 0.625% | 7/31/26 | 427,708 | 382,398 | ||
United States Treasury Note/Bond | 1.875% | 7/31/26 | 184,815 | 171,474 | ||
United States Treasury Note/Bond | 1.500% | 8/15/26 | 415,407 | 380,746 | ||
United States Treasury Note/Bond | 4.375% | 8/15/26 | 280,595 | 279,324 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Note/Bond | 6.750% | 8/15/26 | 27,951 | 29,541 | ||
United States Treasury Note/Bond | 0.750% | 8/31/26 | 459,431 | 411,334 | ||
United States Treasury Note/Bond | 1.375% | 8/31/26 | 177,870 | 162,251 | ||
Total U.S. Government and Agency Obligations (Cost $27,291,612) | 26,788,813 | |||||
Shares | ||||||
Temporary Cash Investments (0.2%) | ||||||
Money Market Fund (0.2%) | ||||||
1 | Vanguard Market Liquidity Fund (Cost $59,595) | 5.384% | 596,026 | 59,596 | ||
Total Investments (99.4%) (Cost $27,351,207) | 26,848,409 | |||||
Other Assets and Liabilities—Net (0.6%) | 150,276 | |||||
Net Assets (100%) | 26,998,685 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
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. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $27,291,612) | 26,788,813 |
Affiliated Issuers (Cost $59,595) | 59,596 |
Total Investments in Securities | 26,848,409 |
Investment in Vanguard | 890 |
Receivables for Investment Securities Sold | 2,598,393 |
Receivables for Accrued Income | 138,054 |
Receivables for Capital Shares Issued | 2,426 |
Total Assets | 29,588,172 |
Liabilities | |
Due to Custodian | 213 |
Payables for Investment Securities Purchased | 2,583,342 |
Payables for Capital Shares Redeemed | 3,082 |
Payables for Distributions | 2,335 |
Payables to Vanguard | 515 |
Total Liabilities | 2,589,487 |
Net Assets | 26,998,685 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 28,065,383 |
Total Distributable Earnings (Loss) | (1,066,698) |
Net Assets | 26,998,685 |
ETF Shares—Net Assets | |
Applicable to 389,249,303 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 22,488,015 |
Net Asset Value Per Share—ETF Shares | $57.77 |
Admiral Shares—Net Assets | |
Applicable to 152,213,490 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,924,939 |
Net Asset Value Per Share—Admiral Shares | $19.22 |
Institutional Shares—Net Assets | |
Applicable to 65,685,340 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,585,731 |
Net Asset Value Per Share—Institutional Shares | $24.14 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 678,572 |
Total Income | 678,572 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 527 |
Management and Administrative—ETF Shares | 5,811 |
Management and Administrative—Admiral Shares | 1,796 |
Management and Administrative—Institutional Shares | 588 |
Marketing and Distribution—ETF Shares | 1,125 |
Marketing and Distribution—Admiral Shares | 165 |
Marketing and Distribution—Institutional Shares | 57 |
Custodian Fees | 104 |
Auditing Fees | 40 |
Shareholders’ Reports—ETF Shares | 357 |
Shareholders’ Reports—Admiral Shares | 21 |
Shareholders’ Reports—Institutional Shares | 1 |
Trustees’ Fees and Expenses | 13 |
Other Expenses | 20 |
Total Expenses | 10,625 |
Expenses Paid Indirectly | (44) |
Net Expenses | 10,581 |
Net Investment Income | 667,991 |
Realized Net Gain (Loss) on Investment Securities Sold1,2 | (493,042) |
Change in Unrealized Appreciation (Depreciation) of Investment Securities1 | 152,410 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 327,359 |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $2,107,000, $2,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $1,345,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 667,991 | 105,867 |
Realized Net Gain (Loss) | (493,042) | (147,549) |
Change in Unrealized Appreciation (Depreciation) | 152,410 | (676,009) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 327,359 | (717,691) |
Distributions | ||
ETF Shares | (497,478) | (116,564) |
Admiral Shares | (79,631) | (20,209) |
Institutional Shares | (38,287) | (10,271) |
Total Distributions | (615,396) | (147,044) |
Capital Share Transactions | ||
ETF Shares | 7,152,585 | 2,863,266 |
Admiral Shares | 457,577 | 190,909 |
Institutional Shares | 513,042 | 12,395 |
Net Increase (Decrease) from Capital Share Transactions | 8,123,204 | 3,066,570 |
Total Increase (Decrease) | 7,835,167 | 2,201,835 |
Net Assets | ||
Beginning of Period | 19,163,518 | 16,961,683 |
End of Period | 26,998,685 | 19,163,518 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $58.51 | $61.50 | $62.13 | $61.12 | $59.89 |
Investment Operations | |||||
Net Investment Income1 | 1.625 | .368 | .288 | .956 | 1.430 |
Net Realized and Unrealized Gain (Loss) on Investments | (.919) | (2.860) | (.220) | 1.115 | 1.165 |
Total from Investment Operations | .706 | (2.492) | .068 | 2.071 | 2.595 |
Distributions | |||||
Dividends from Net Investment Income | (1.446) | (.310) | (.325) | (1.061) | (1.365) |
Distributions from Realized Capital Gains | — | (.188) | (.373) | — | — |
Total Distributions | (1.446) | (.498) | (.698) | (1.061) | (1.365) |
Net Asset Value, End of Period | $57.77 | $58.51 | $61.50 | $62.13 | $61.12 |
Total Return | 1.23% | -4.07% | 0.11% | 3.43% | 4.39% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $22,488 | $15,565 | $13,394 | $9,140 | $5,334 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04%2 | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.81% | 0.61% | 0.47% | 1.55% | 2.37% |
Portfolio Turnover Rate3 | 81% | 59% | 66% | 67% | 55% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $19.50 | $20.51 | $20.71 | $20.35 | $19.95 |
Investment Operations | |||||
Net Investment Income1 | .529 | .114 | .095 | .312 | .472 |
Net Realized and Unrealized Gain (Loss) on Investments | (.294) | (.949) | (.078) | .375 | .384 |
Total from Investment Operations | .235 | (.835) | .017 | .687 | .856 |
Distributions | |||||
Dividends from Net Investment Income | (.515) | (.112) | (.093) | (.327) | (.456) |
Distributions from Realized Capital Gains | — | (.063) | (.124) | — | — |
Total Distributions | (.515) | (.175) | (.217) | (.327) | (.456) |
Net Asset Value, End of Period | $19.22 | $19.50 | $20.51 | $20.71 | $20.35 |
Total Return2 | 1.22% | -4.09% | 0.08% | 3.41% | 4.34% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $2,925 | $2,506 | $2,430 | $2,748 | $1,596 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.74% | 0.57% | 0.46% | 1.52% | 2.35% |
Portfolio Turnover Rate4 | 81% | 59% | 66% | 67% | 55% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $24.50 | $25.77 | $26.02 | $25.57 | $25.06 |
Investment Operations | |||||
Net Investment Income1 | .680 | .145 | .120 | .421 | .598 |
Net Realized and Unrealized Gain (Loss) on Investments | (.389) | (1.191) | (.092) | .445 | .490 |
Total from Investment Operations | .291 | (1.046) | .028 | .866 | 1.088 |
Distributions | |||||
Dividends from Net Investment Income | (.651) | (.145) | (.122) | (.416) | (.578) |
Distributions from Realized Capital Gains | — | (.079) | (.156) | — | — |
Total Distributions | (.651) | (.224) | (.278) | (.416) | (.578) |
Net Asset Value, End of Period | $24.14 | $24.50 | $25.77 | $26.02 | $25.57 |
Total Return | 1.21% | -4.08% | 0.11% | 3.42% | 4.40% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,586 | $1,092 | $1,138 | $1,104 | $974 |
Ratio of Total Expenses to Average Net Assets | 0.05%2 | 0.05%2 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.80% | 0.58% | 0.47% | 1.63% | 2.37% |
Portfolio Turnover Rate3 | 81% | 59% | 66% | 67% | 55% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 26,788,813 | — | 26,788,813 |
Temporary Cash Investments | 59,596 | — | — | 59,596 |
Total | 59,596 | 26,788,813 | — | 26,848,409 |
Amount ($000) | |
Paid-in Capital | 1,343 |
Total Distributable Earnings (Loss) | (1,343) |
Amount ($000) | |
Undistributed Ordinary Income | 70,721 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (504,199) |
Capital Loss Carryforwards | (630,886) |
Qualified Late-Year Losses | — |
Other Temporary Differences | (2,334) |
Total | (1,066,698) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 615,396 | 100,391 |
Long-Term Capital Gains | — | 46,653 |
Total | 615,396 | 147,044 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 27,352,608 |
Gross Unrealized Appreciation | 1,287 |
Gross Unrealized Depreciation | (505,486) |
Net Unrealized Appreciation (Depreciation) | (504,199) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 10,084,732 | 173,852 | 7,645,151 | 128,173 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,932,147) | (50,650) | (4,781,885) | (79,925) | |
Net Increase (Decrease)—ETF Shares | 7,152,585 | 123,202 | 2,863,266 | 48,248 | |
Admiral Shares | |||||
Issued | 2,114,007 | 109,455 | 1,386,561 | 69,862 | |
Issued in Lieu of Cash Distributions | 60,002 | 3,110 | 15,276 | 765 | |
Redeemed | (1,716,432) | (88,878) | (1,210,928) | (60,577) | |
Net Increase (Decrease)—Admiral Shares | 457,577 | 23,687 | 190,909 | 10,050 | |
Institutional Shares | |||||
Issued | 1,023,295 | 42,143 | 585,141 | 23,322 | |
Issued in Lieu of Cash Distributions | 35,147 | 1,450 | 8,407 | 335 | |
Redeemed | (545,400) | (22,488) | (581,153) | (23,235) | |
Net Increase (Decrease)—Institutional Shares | 513,042 | 21,105 | 12,395 | 422 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Intermediate-Term Treasury Index Fund ETF Shares Net Asset Value | -1.25% | 0.57% | 1.09% | $11,141 | |
Intermediate-Term Treasury Index Fund ETF Shares Market Price | -1.18 | 0.59 | 1.09 | 11,148 | |
Spliced Bloomberg U.S.Treasury 3–10 Year Index | -1.20 | 0.60 | 1.14 | 11,201 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Intermediate-Term Treasury Index Fund Admiral Shares | -1.24% | 0.55% | 1.08% | $11,131 | |
Spliced Bloomberg U.S.Treasury 3–10 Year Index | -1.20 | 0.60 | 1.14 | 11,201 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Intermediate-Term Treasury Index Fund Institutional Shares | -1.27% | 0.56% | 1.10% | $5,575,316 | |
Spliced Bloomberg U.S.Treasury 3–10 Year Index | -1.20 | 0.60 | 1.14 | 5,600,504 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 5,805,239 |
Cumulative Returns of ETF Shares: August 31, 2013, Through August 31, 2023 | |||
One Year | Five Years | Ten Years | |
Intermediate-Term Treasury Index Fund ETF Shares Market Price | -1.18% | 2.98% | 11.48% |
Intermediate-Term Treasury Index Fund ETF Shares Net Asset Value | -1.25 | 2.90 | 11.41 |
Spliced Bloomberg U.S.Treasury 3–10 Year Index | -1.20 | 3.05 | 12.01 |
2 - 4 Years | 22.3% |
4 - 6 Years | 42.6 |
6 - 8 Years | 20.7 |
8 - 10 Years | 14.4 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (99.3%) | ||||||
U.S. Government Securities (99.3%) | ||||||
United States Treasury Note/Bond | 0.875% | 9/30/26 | 236,717 | 212,380 | ||
United States Treasury Note/Bond | 1.625% | 9/30/26 | 84,370 | 77,462 | ||
United States Treasury Note/Bond | 1.125% | 10/31/26 | 252,889 | 227,956 | ||
United States Treasury Note/Bond | 1.625% | 10/31/26 | 109,028 | 99,829 | ||
United States Treasury Note/Bond | 2.000% | 11/15/26 | 246,985 | 228,693 | ||
United States Treasury Note/Bond | 6.500% | 11/15/26 | 31,036 | 32,772 | ||
United States Treasury Note/Bond | 1.250% | 11/30/26 | 267,625 | 241,699 | ||
United States Treasury Note/Bond | 1.625% | 11/30/26 | 102,345 | 93,582 | ||
United States Treasury Note/Bond | 1.250% | 12/31/26 | 263,869 | 237,977 | ||
United States Treasury Note/Bond | 1.750% | 12/31/26 | 95,970 | 87,977 | ||
United States Treasury Note/Bond | 1.500% | 1/31/27 | 352,756 | 320,016 | ||
United States Treasury Note/Bond | 2.250% | 2/15/27 | 210,777 | 195,957 | ||
United States Treasury Note/Bond | 6.625% | 2/15/27 | 13,172 | 14,034 | ||
United States Treasury Note/Bond | 1.125% | 2/28/27 | 67,524 | 60,360 | ||
United States Treasury Note/Bond | 1.875% | 2/28/27 | 265,266 | 243,340 | ||
United States Treasury Note/Bond | 0.625% | 3/31/27 | 103,934 | 90,958 | ||
United States Treasury Note/Bond | 2.500% | 3/31/27 | 235,588 | 220,716 | ||
United States Treasury Note/Bond | 0.500% | 4/30/27 | 164,907 | 143,211 | ||
United States Treasury Note/Bond | 2.750% | 4/30/27 | 230,547 | 217,615 | ||
United States Treasury Note/Bond | 2.375% | 5/15/27 | 254,696 | 237,026 | ||
United States Treasury Note/Bond | 0.500% | 5/31/27 | 164,035 | 142,070 | ||
United States Treasury Note/Bond | 2.625% | 5/31/27 | 222,501 | 208,873 | ||
United States Treasury Note/Bond | 0.500% | 6/30/27 | 190,242 | 164,351 | ||
United States Treasury Note/Bond | 3.250% | 6/30/27 | 231,966 | 222,687 | ||
United States Treasury Note/Bond | 0.375% | 7/31/27 | 201,357 | 172,538 | ||
United States Treasury Note/Bond | 2.750% | 7/31/27 | 216,997 | 204,248 | ||
United States Treasury Note/Bond | 2.250% | 8/15/27 | 203,753 | 188,089 | ||
United States Treasury Note/Bond | 6.375% | 8/15/27 | 27,119 | 28,971 | ||
United States Treasury Note/Bond | 0.500% | 8/31/27 | 173,498 | 149,046 | ||
United States Treasury Note/Bond | 3.125% | 8/31/27 | 208,454 | 198,911 | ||
United States Treasury Note/Bond | 0.375% | 9/30/27 | 220,728 | 188,102 | ||
United States Treasury Note/Bond | 4.125% | 9/30/27 | 199,643 | 197,771 | ||
United States Treasury Note/Bond | 0.500% | 10/31/27 | 217,688 | 185,987 | ||
United States Treasury Note/Bond | 4.125% | 10/31/27 | 177,947 | 176,307 | ||
United States Treasury Note/Bond | 2.250% | 11/15/27 | 205,817 | 189,255 | ||
United States Treasury Note/Bond | 6.125% | 11/15/27 | 35,345 | 37,665 | ||
United States Treasury Note/Bond | 0.625% | 11/30/27 | 232,463 | 199,228 | ||
United States Treasury Note/Bond | 3.875% | 11/30/27 | 200,553 | 196,887 | ||
United States Treasury Note/Bond | 0.625% | 12/31/27 | 255,161 | 218,083 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Note/Bond | 3.875% | 12/31/27 | 199,729 | 196,078 | ||
United States Treasury Note/Bond | 0.750% | 1/31/28 | 283,271 | 242,905 | ||
United States Treasury Note/Bond | 3.500% | 1/31/28 | 171,452 | 165,826 | ||
United States Treasury Note/Bond | 2.750% | 2/15/28 | 274,370 | 256,965 | ||
United States Treasury Note/Bond | 1.125% | 2/29/28 | 303,230 | 263,952 | ||
United States Treasury Note/Bond | 4.000% | 2/29/28 | 196,957 | 194,526 | ||
United States Treasury Note/Bond | 1.250% | 3/31/28 | 259,922 | 227,107 | ||
United States Treasury Note/Bond | 3.625% | 3/31/28 | 182,319 | 177,220 | ||
United States Treasury Note/Bond | 1.250% | 4/30/28 | 285,128 | 248,640 | ||
United States Treasury Note/Bond | 3.500% | 4/30/28 | 121,998 | 117,957 | ||
United States Treasury Note/Bond | 2.875% | 5/15/28 | 294,482 | 276,767 | ||
United States Treasury Note/Bond | 1.250% | 5/31/28 | 304,601 | 265,098 | ||
United States Treasury Note/Bond | 3.625% | 5/31/28 | 149,735 | 145,641 | ||
United States Treasury Note/Bond | 1.250% | 6/30/28 | 262,798 | 228,306 | ||
United States Treasury Note/Bond | 4.000% | 6/30/28 | 126,657 | 125,153 | ||
United States Treasury Note/Bond | 1.000% | 7/31/28 | 280,895 | 240,385 | ||
United States Treasury Note/Bond | 4.125% | 7/31/28 | 169,370 | 168,391 | ||
United States Treasury Note/Bond | 2.875% | 8/15/28 | 266,332 | 249,686 | ||
United States Treasury Note/Bond | 5.500% | 8/15/28 | 35,924 | 37,776 | ||
United States Treasury Note/Bond | 1.125% | 8/31/28 | 302,829 | 260,244 | ||
United States Treasury Note/Bond | 4.375% | 8/31/28 | 225,462 | 226,836 | ||
United States Treasury Note/Bond | 1.250% | 9/30/28 | 295,026 | 254,598 | ||
United States Treasury Note/Bond | 1.375% | 10/31/28 | 282,149 | 244,544 | ||
United States Treasury Note/Bond | 3.125% | 11/15/28 | 274,007 | 259,364 | ||
United States Treasury Note/Bond | 5.250% | 11/15/28 | 53,269 | 55,533 | ||
United States Treasury Note/Bond | 1.500% | 11/30/28 | 264,985 | 230,827 | ||
United States Treasury Note/Bond | 1.375% | 12/31/28 | 257,044 | 222,022 | ||
United States Treasury Note/Bond | 1.750% | 1/31/29 | 256,192 | 225,249 | ||
United States Treasury Note/Bond | 2.625% | 2/15/29 | 287,817 | 264,972 | ||
United States Treasury Note/Bond | 5.250% | 2/15/29 | 26,461 | 27,610 | ||
United States Treasury Note/Bond | 1.875% | 2/28/29 | 248,952 | 220,128 | ||
United States Treasury Note/Bond | 2.375% | 3/31/29 | 235,725 | 213,736 | ||
United States Treasury Note/Bond | 2.875% | 4/30/29 | 204,219 | 190,019 | ||
United States Treasury Note/Bond | 2.375% | 5/15/29 | 242,841 | 219,923 | ||
United States Treasury Note/Bond | 2.750% | 5/31/29 | 194,666 | 179,762 | ||
United States Treasury Note/Bond | 3.250% | 6/30/29 | 200,563 | 190,159 | ||
United States Treasury Note/Bond | 2.625% | 7/31/29 | 189,446 | 173,461 | ||
United States Treasury Note/Bond | 1.625% | 8/15/29 | 201,939 | 174,835 | ||
United States Treasury Note/Bond | 6.125% | 8/15/29 | 27,786 | 30,443 | ||
United States Treasury Note/Bond | 3.125% | 8/31/29 | 184,409 | 173,517 | ||
United States Treasury Note/Bond | 3.875% | 9/30/29 | 169,595 | 166,150 | ||
United States Treasury Note/Bond | 4.000% | 10/31/29 | 172,084 | 169,745 | ||
United States Treasury Note/Bond | 1.750% | 11/15/29 | 156,226 | 135,819 | ||
United States Treasury Note/Bond | 3.875% | 11/30/29 | 173,107 | 169,618 | ||
United States Treasury Note/Bond | 3.875% | 12/31/29 | 176,664 | 173,075 | ||
United States Treasury Note/Bond | 3.500% | 1/31/30 | 170,727 | 163,738 | ||
United States Treasury Note/Bond | 1.500% | 2/15/30 | 247,967 | 210,307 | ||
United States Treasury Note/Bond | 4.000% | 2/28/30 | 184,584 | 182,219 | ||
United States Treasury Note/Bond | 3.625% | 3/31/30 | 165,258 | 159,629 | ||
United States Treasury Note/Bond | 3.500% | 4/30/30 | 152,087 | 145,813 | ||
United States Treasury Note/Bond | 0.625% | 5/15/30 | 377,769 | 299,618 | ||
United States Treasury Note/Bond | 6.250% | 5/15/30 | 29,750 | 33,185 | ||
United States Treasury Note/Bond | 3.750% | 5/31/30 | 187,624 | 182,552 | ||
United States Treasury Note/Bond | 3.750% | 6/30/30 | 129,940 | 126,448 | ||
United States Treasury Note/Bond | 4.000% | 7/31/30 | 153,578 | 151,730 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Note/Bond | 0.625% | 8/15/30 | 479,980 | 378,134 | ||
United States Treasury Note/Bond | 4.125% | 8/31/30 | 175,363 | 174,596 | ||
United States Treasury Note/Bond | 0.875% | 11/15/30 | 482,830 | 386,415 | ||
United States Treasury Note/Bond | 1.125% | 2/15/31 | 443,757 | 360,483 | ||
United States Treasury Note/Bond | 5.375% | 2/15/31 | 36,796 | 39,521 | ||
United States Treasury Note/Bond | 1.625% | 5/15/31 | 443,334 | 371,292 | ||
United States Treasury Note/Bond | 1.250% | 8/15/31 | 512,942 | 414,201 | ||
United States Treasury Note/Bond | 1.375% | 11/15/31 | 517,917 | 419,675 | ||
United States Treasury Note/Bond | 1.875% | 2/15/32 | 501,425 | 421,432 | ||
United States Treasury Note/Bond | 2.875% | 5/15/32 | 488,588 | 443,928 | ||
United States Treasury Note/Bond | 2.750% | 8/15/32 | 463,295 | 415,807 | ||
United States Treasury Note/Bond | 4.125% | 11/15/32 | 459,626 | 459,339 | ||
United States Treasury Note/Bond | 3.500% | 2/15/33 | 449,125 | 427,721 | ||
United States Treasury Note/Bond | 3.375% | 5/15/33 | 446,090 | 420,231 | ||
United States Treasury Note/Bond | 3.875% | 8/15/33 | 186,363 | 183,014 | ||
Total U.S. Government and Agency Obligations (Cost $23,755,217) | 22,204,225 | |||||
Shares | ||||||
Temporary Cash Investments (0.3%) | ||||||
Money Market Fund (0.3%) | ||||||
1 | Vanguard Market Liquidity Fund (Cost $76,198) | 5.384% | 762,072 | 76,200 | ||
Total Investments (99.6%) (Cost $23,831,415) | 22,280,425 | |||||
Other Assets and Liabilities—Net (0.4%) | 82,017 | |||||
Net Assets (100%) | 22,362,442 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
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. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $23,755,217) | 22,204,225 |
Affiliated Issuers (Cost $76,198) | 76,200 |
Total Investments in Securities | 22,280,425 |
Investment in Vanguard | 694 |
Receivables for Investment Securities Sold | 1,166,121 |
Receivables for Accrued Income | 105,567 |
Receivables for Capital Shares Issued | 9,018 |
Total Assets | 23,561,825 |
Liabilities | |
Due to Custodian | 174 |
Payables for Investment Securities Purchased | 1,193,335 |
Payables for Capital Shares Redeemed | 4,275 |
Payables for Distributions | 1,166 |
Payables to Vanguard | 433 |
Total Liabilities | 1,199,383 |
Net Assets | 22,362,442 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 24,478,593 |
Total Distributable Earnings (Loss) | (2,116,151) |
Net Assets | 22,362,442 |
ETF Shares—Net Assets | |
Applicable to 292,008,221 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,995,308 |
Net Asset Value Per Share—ETF Shares | $58.20 |
Admiral Shares—Net Assets | |
Applicable to 161,318,413 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,164,626 |
Net Asset Value Per Share—Admiral Shares | $19.62 |
Institutional Shares—Net Assets | |
Applicable to 90,471,809 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,202,508 |
Net Asset Value Per Share—Institutional Shares | $24.34 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 469,867 |
Total Income | 469,867 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 409 |
Management and Administrative—ETF Shares | 3,894 |
Management and Administrative—Admiral Shares | 1,801 |
Management and Administrative—Institutional Shares | 819 |
Marketing and Distribution—ETF Shares | 775 |
Marketing and Distribution—Admiral Shares | 166 |
Marketing and Distribution—Institutional Shares | 81 |
Custodian Fees | 100 |
Auditing Fees | 40 |
Shareholders’ Reports—ETF Shares | 361 |
Shareholders’ Reports—Admiral Shares | 28 |
Shareholders’ Reports—Institutional Shares | 36 |
Trustees’ Fees and Expenses | 10 |
Other Expenses | 20 |
Total Expenses | 8,540 |
Expenses Paid Indirectly | (42) |
Net Expenses | 8,498 |
Net Investment Income | 461,369 |
Realized Net Gain (Loss) on Investment Securities Sold1,2 | (333,139) |
Change in Unrealized Appreciation (Depreciation) of Investment Securities1 | (331,014) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (202,784) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,034,000, ($1,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $26,775,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 461,369 | 181,505 |
Realized Net Gain (Loss) | (333,139) | (248,281) |
Change in Unrealized Appreciation (Depreciation) | (331,014) | (1,386,084) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (202,784) | (1,452,860) |
Distributions | ||
ETF Shares | (317,690) | (165,364) |
Admiral Shares | (72,063) | (48,477) |
Institutional Shares | (49,079) | (33,566) |
Total Distributions | (438,832) | (247,407) |
Capital Share Transactions | ||
ETF Shares | 5,733,607 | 4,723,604 |
Admiral Shares | 389,104 | 574,795 |
Institutional Shares | 569,217 | 195,879 |
Net Increase (Decrease) from Capital Share Transactions | 6,691,928 | 5,494,278 |
Total Increase (Decrease) | 6,050,312 | 3,794,011 |
Net Assets | ||
Beginning of Period | 16,312,130 | 12,518,119 |
End of Period | 22,362,442 | 16,312,130 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $60.34 | $68.27 | $70.46 | $67.26 | $62.67 |
Investment Operations | |||||
Net Investment Income1 | 1.473 | .858 | .809 | 1.239 | 1.515 |
Net Realized and Unrealized Gain (Loss) on Investments | (2.221) | (7.617) | (1.692) | 3.248 | 4.552 |
Total from Investment Operations | (.748) | (6.759) | (.883) | 4.487 | 6.067 |
Distributions | |||||
Dividends from Net Investment Income | (1.392) | (.805) | (.820) | (1.287) | (1.477) |
Distributions from Realized Capital Gains | — | (.366) | (.487) | — | — |
Total Distributions | (1.392) | (1.171) | (1.307) | (1.287) | (1.477) |
Net Asset Value, End of Period | $58.20 | $60.34 | $68.27 | $70.46 | $67.26 |
Total Return | -1.25% | -10.01% | -1.26% | 6.76% | 9.84% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $16,995 | $11,726 | $8,147 | $6,547 | $4,353 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04%2 | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.50% | 1.34% | 1.18% | 1.80% | 2.36% |
Portfolio Turnover Rate3 | 36% | 36% | 33% | 28% | 29% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $20.35 | $23.04 | $23.78 | $22.68 | $21.13 |
Investment Operations | |||||
Net Investment Income1 | .490 | .283 | .267 | .416 | .507 |
Net Realized and Unrealized Gain (Loss) on Investments | (.741) | (2.575) | (.577) | 1.101 | 1.540 |
Total from Investment Operations | (.251) | (2.292) | (.310) | 1.517 | 2.047 |
Distributions | |||||
Dividends from Net Investment Income | (.479) | (.274) | (.265) | (.417) | (.497) |
Distributions from Realized Capital Gains | — | (.124) | (.165) | — | — |
Total Distributions | (.479) | (.398) | (.430) | (.417) | (.497) |
Net Asset Value, End of Period | $19.62 | $20.35 | $23.04 | $23.78 | $22.68 |
Total Return2 | -1.24% | -10.05% | -1.31% | 6.76% | 9.83% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $3,165 | $2,886 | $2,646 | $2,740 | $1,887 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.46% | 1.31% | 1.15% | 1.79% | 2.34% |
Portfolio Turnover Rate4 | 36% | 36% | 33% | 28% | 29% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $25.26 | $28.60 | $29.51 | $28.15 | $26.23 |
Investment Operations | |||||
Net Investment Income1 | .615 | .355 | .337 | .527 | .634 |
Net Realized and Unrealized Gain (Loss) on Investments | (.935) | (3.195) | (.709) | 1.355 | 1.908 |
Total from Investment Operations | (.320) | (2.840) | (.372) | 1.882 | 2.542 |
Distributions | |||||
Dividends from Net Investment Income | (.600) | (.346) | (.334) | (.522) | (.622) |
Distributions from Realized Capital Gains | — | (.154) | (.204) | — | — |
Total Distributions | (.600) | (.500) | (.538) | (.522) | (.622) |
Net Asset Value, End of Period | $24.34 | $25.26 | $28.60 | $29.51 | $28.15 |
Total Return | -1.27% | -10.03% | -1.26% | 6.76% | 9.83% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $2,203 | $1,700 | $1,725 | $1,558 | $1,183 |
Ratio of Total Expenses to Average Net Assets | 0.05%2 | 0.05%2 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.49% | 1.32% | 1.17% | 1.83% | 2.36% |
Portfolio Turnover Rate3 | 36% | 36% | 33% | 28% | 29% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 22,204,225 | — | 22,204,225 |
Temporary Cash Investments | 76,200 | — | — | 76,200 |
Total | 76,200 | 22,204,225 | — | 22,280,425 |
Amount ($000) | |
Paid-in Capital | 26,775 |
Total Distributable Earnings (Loss) | (26,775) |
Amount ($000) | |
Undistributed Ordinary Income | 41,118 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (1,565,764) |
Capital Loss Carryforwards | (590,339) |
Qualified Late-Year Losses | — |
Other Temporary Differences | (1,166) |
Total | (2,116,151) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 438,832 | 171,935 |
Long-Term Capital Gains | — | 75,472 |
Total | 438,832 | 247,407 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 23,846,189 |
Gross Unrealized Appreciation | 6,383 |
Gross Unrealized Depreciation | (1,572,147) |
Net Unrealized Appreciation (Depreciation) | (1,565,764) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 9,621,840 | 163,663 | 7,033,079 | 111,240 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,888,233) | (66,000) | (2,309,475) | (36,225) | |
Net Increase (Decrease)—ETF Shares | 5,733,607 | 97,663 | 4,723,604 | 75,015 | |
Admiral Shares | |||||
Issued | 1,307,777 | 65,770 | 1,661,411 | 77,397 | |
Issued in Lieu of Cash Distributions | 64,124 | 3,227 | 42,941 | 1,980 | |
Redeemed | (982,797) | (49,462) | (1,129,557) | (52,417) | |
Net Increase (Decrease)—Admiral Shares | 389,104 | 19,535 | 574,795 | 26,960 | |
Institutional Shares | |||||
Issued | 846,843 | 34,426 | 737,363 | 27,430 | |
Issued in Lieu of Cash Distributions | 45,259 | 1,835 | 30,431 | 1,128 | |
Redeemed | (322,885) | (13,101) | (571,915) | (21,578) | |
Net Increase (Decrease)—Institutional Shares | 569,217 | 23,160 | 195,879 | 6,980 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Long-Term Treasury Index Fund ETF Shares Net Asset Value | -9.70% | -1.88% | 1.54% | $11,651 | |
Long-Term Treasury Index Fund ETF Shares Market Price | -9.66 | -1.87 | 1.54 | 11,655 | |
Spliced Bloomberg U.S. Long Treasury Index | -9.69 | -1.88 | 1.55 | 11,668 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Long-Term Treasury Index Fund Admiral Shares | -9.73% | -1.90% | 1.53% | $11,634 | |
Spliced Bloomberg U.S. Long Treasury Index | -9.69 | -1.88 | 1.55 | 11,668 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Long-Term Treasury Index Fund Institutional Shares | -9.68% | -1.88% | 1.55% | $5,832,102 | |
Spliced Bloomberg U.S. Long Treasury Index | -9.69 | -1.88 | 1.55 | 5,834,117 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 5,805,239 |
Cumulative Returns of ETF Shares: August 31, 2013, Through August 31, 2023 | |||
One Year | Five Years | Ten Years | |
Long-Term Treasury Index Fund ETF Shares Market Price | -9.66% | -9.00% | 16.55% |
Long-Term Treasury Index Fund ETF Shares Net Asset Value | -9.70 | -9.05 | 16.51 |
Spliced Bloomberg U.S. Long Treasury Index | -9.69 | -9.07 | 16.68 |
10 - 15 Years | 1.5% |
15 - 20 Years | 38.0 |
20 - 25 Years | 20.8 |
Over 25 Years | 39.7 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (99.1%) | ||||||
U.S. Government Securities (99.1%) | ||||||
United States Treasury Note/Bond | 4.500% | 2/15/36 | 45,732 | 47,769 | ||
United States Treasury Note/Bond | 4.750% | 2/15/37 | 17,066 | 18,218 | ||
United States Treasury Note/Bond | 5.000% | 5/15/37 | 30,620 | 33,462 | ||
United States Treasury Note/Bond | 4.375% | 2/15/38 | 31,852 | 32,598 | ||
United States Treasury Note/Bond | 4.500% | 5/15/38 | 38,845 | 40,217 | ||
United States Treasury Note/Bond | 3.500% | 2/15/39 | 40,199 | 36,939 | ||
United States Treasury Note/Bond | 4.250% | 5/15/39 | 65,088 | 65,231 | ||
United States Treasury Note/Bond | 4.500% | 8/15/39 | 65,234 | 67,191 | ||
United States Treasury Note/Bond | 4.375% | 11/15/39 | 73,798 | 74,801 | ||
United States Treasury Note/Bond | 4.625% | 2/15/40 | 70,404 | 73,462 | ||
United States Treasury Note/Bond | 1.125% | 5/15/40 | 236,936 | 146,530 | ||
United States Treasury Note/Bond | 4.375% | 5/15/40 | 68,148 | 68,926 | ||
United States Treasury Note/Bond | 1.125% | 8/15/40 | 284,216 | 174,349 | ||
United States Treasury Note/Bond | 3.875% | 8/15/40 | 73,751 | 69,960 | ||
United States Treasury Note/Bond | 1.375% | 11/15/40 | 327,297 | 208,805 | ||
United States Treasury Note/Bond | 4.250% | 11/15/40 | 66,620 | 66,287 | ||
United States Treasury Note/Bond | 1.875% | 2/15/41 | 381,310 | 264,415 | ||
United States Treasury Note/Bond | 4.750% | 2/15/41 | 71,857 | 75,854 | ||
United States Treasury Note/Bond | 2.250% | 5/15/41 | 333,790 | 245,805 | ||
United States Treasury Note/Bond | 4.375% | 5/15/41 | 66,194 | 66,629 | ||
United States Treasury Note/Bond | 1.750% | 8/15/41 | 434,368 | 291,706 | ||
United States Treasury Note/Bond | 3.750% | 8/15/41 | 76,089 | 70,429 | ||
United States Treasury Note/Bond | 2.000% | 11/15/41 | 361,359 | 252,725 | ||
United States Treasury Note/Bond | 3.125% | 11/15/41 | 81,364 | 68,600 | ||
United States Treasury Note/Bond | 2.375% | 2/15/42 | 294,885 | 219,321 | ||
United States Treasury Note/Bond | 3.125% | 2/15/42 | 80,599 | 67,652 | ||
United States Treasury Note/Bond | 3.000% | 5/15/42 | 74,508 | 61,097 | ||
United States Treasury Note/Bond | 3.250% | 5/15/42 | 262,850 | 224,367 | ||
United States Treasury Note/Bond | 2.750% | 8/15/42 | 90,252 | 70,904 | ||
United States Treasury Note/Bond | 3.375% | 8/15/42 | 216,707 | 188,027 | ||
United States Treasury Note/Bond | 2.750% | 11/15/42 | 124,105 | 97,228 | ||
United States Treasury Note/Bond | 4.000% | 11/15/42 | 210,462 | 199,610 | ||
United States Treasury Note/Bond | 3.125% | 2/15/43 | 103,096 | 85,570 | ||
United States Treasury Note/Bond | 3.875% | 2/15/43 | 211,213 | 196,494 | ||
United States Treasury Note/Bond | 2.875% | 5/15/43 | 161,634 | 128,600 | ||
United States Treasury Note/Bond | 3.875% | 5/15/43 | 206,697 | 192,228 | ||
United States Treasury Note/Bond | 3.625% | 8/15/43 | 117,119 | 104,565 | ||
United States Treasury Note/Bond | 4.375% | 8/15/43 | 80,044 | 79,831 | ||
United States Treasury Note/Bond | 3.750% | 11/15/43 | 118,987 | 108,129 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Note/Bond | 3.625% | 2/15/44 | 127,522 | 113,654 | ||
United States Treasury Note/Bond | 3.375% | 5/15/44 | 116,437 | 99,754 | ||
United States Treasury Note/Bond | 3.125% | 8/15/44 | 146,765 | 120,623 | ||
United States Treasury Note/Bond | 3.000% | 11/15/44 | 127,017 | 102,129 | ||
United States Treasury Note/Bond | 2.500% | 2/15/45 | 172,031 | 126,201 | ||
United States Treasury Note/Bond | 3.000% | 5/15/45 | 85,126 | 68,154 | ||
United States Treasury Note/Bond | 2.875% | 8/15/45 | 118,136 | 92,331 | ||
United States Treasury Note/Bond | 3.000% | 11/15/45 | 66,462 | 53,066 | ||
United States Treasury Note/Bond | 2.500% | 2/15/46 | 144,556 | 105,029 | ||
United States Treasury Note/Bond | 2.500% | 5/15/46 | 145,207 | 105,389 | ||
United States Treasury Note/Bond | 2.250% | 8/15/46 | 179,109 | 123,305 | ||
United States Treasury Note/Bond | 2.875% | 11/15/46 | 85,565 | 66,500 | ||
United States Treasury Note/Bond | 3.000% | 2/15/47 | 168,785 | 134,131 | ||
United States Treasury Note/Bond | 3.000% | 5/15/47 | 131,962 | 104,828 | ||
United States Treasury Note/Bond | 2.750% | 8/15/47 | 185,190 | 140,281 | ||
United States Treasury Note/Bond | 2.750% | 11/15/47 | 186,502 | 141,159 | ||
United States Treasury Note/Bond | 3.000% | 2/15/48 | 211,538 | 167,842 | ||
United States Treasury Note/Bond | 3.125% | 5/15/48 | 229,005 | 185,923 | ||
United States Treasury Note/Bond | 3.000% | 8/15/48 | 248,160 | 196,861 | ||
United States Treasury Note/Bond | 3.375% | 11/15/48 | 255,038 | 216,663 | ||
United States Treasury Note/Bond | 3.000% | 2/15/49 | 266,784 | 211,676 | ||
United States Treasury Note/Bond | 2.875% | 5/15/49 | 257,301 | 199,489 | ||
United States Treasury Note/Bond | 2.250% | 8/15/49 | 237,747 | 161,668 | ||
United States Treasury Note/Bond | 2.375% | 11/15/49 | 223,128 | 155,980 | ||
United States Treasury Note/Bond | 2.000% | 2/15/50 | 279,588 | 178,937 | ||
United States Treasury Note/Bond | 1.250% | 5/15/50 | 320,895 | 167,668 | ||
United States Treasury Note/Bond | 1.375% | 8/15/50 | 368,705 | 199,158 | ||
United States Treasury Note/Bond | 1.625% | 11/15/50 | 366,061 | 211,572 | ||
United States Treasury Note/Bond | 1.875% | 2/15/51 | 409,722 | 252,683 | ||
United States Treasury Note/Bond | 2.375% | 5/15/51 | 420,224 | 292,056 | ||
United States Treasury Note/Bond | 2.000% | 8/15/51 | 411,876 | 261,348 | ||
United States Treasury Note/Bond | 1.875% | 11/15/51 | 383,386 | 235,483 | ||
United States Treasury Note/Bond | 2.250% | 2/15/52 | 350,227 | 236,294 | ||
United States Treasury Note/Bond | 2.875% | 5/15/52 | 336,759 | 261,409 | ||
United States Treasury Note/Bond | 3.000% | 8/15/52 | 320,480 | 255,432 | ||
United States Treasury Note/Bond | 4.000% | 11/15/52 | 313,075 | 302,117 | ||
United States Treasury Note/Bond | 3.625% | 2/15/53 | 320,918 | 289,127 | ||
United States Treasury Note/Bond | 3.625% | 5/15/53 | 320,835 | 289,303 | ||
United States Treasury Note/Bond | 4.125% | 8/15/53 | 127,846 | 126,128 | ||
Total U.S. Government and Agency Obligations (Cost $13,998,053) | 11,335,882 |
Coupon | Shares | Market Value• ($000) | ||||
Temporary Cash Investments (1.0%) | ||||||
Money Market Fund (1.0%) | ||||||
1 | Vanguard Market Liquidity Fund (Cost $111,453) | 5.384% | 1,114,657 | 111,454 | ||
Total Investments (100.1%) (Cost $14,109,506) | 11,447,336 | |||||
Other Assets and Liabilities—Net (-0.1%) | (9,552) | |||||
Net Assets (100%) | 11,437,784 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
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. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $13,998,053) | 11,335,882 |
Affiliated Issuers (Cost $111,453) | 111,454 |
Total Investments in Securities | 11,447,336 |
Investment in Vanguard | 382 |
Receivables for Investment Securities Sold | 132,597 |
Receivables for Accrued Income | 69,117 |
Receivables for Capital Shares Issued | 16,042 |
Total Assets | 11,665,474 |
Liabilities | |
Due to Custodian | 1,428 |
Payables for Investment Securities Purchased | 206,439 |
Payables for Capital Shares Redeemed | 18,815 |
Payables for Distributions | 783 |
Payables to Vanguard | 225 |
Total Liabilities | 227,690 |
Net Assets | 11,437,784 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 14,880,415 |
Total Distributable Earnings (Loss) | (3,442,631) |
Net Assets | 11,437,784 |
ETF Shares—Net Assets | |
Applicable to 122,072,143 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 7,322,322 |
Net Asset Value Per Share—ETF Shares | $59.98 |
Admiral Shares—Net Assets | |
Applicable to 54,139,358 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,089,284 |
Net Asset Value Per Share—Admiral Shares | $20.12 |
Institutional Shares—Net Assets | |
Applicable to 118,507,718 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,026,178 |
Net Asset Value Per Share—Institutional Shares | $25.54 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 283,200 |
Total Income | 283,200 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 194 |
Management and Administrative—ETF Shares | 1,312 |
Management and Administrative—Admiral Shares | 674 |
Management and Administrative—Institutional Shares | 1,190 |
Marketing and Distribution—ETF Shares | 287 |
Marketing and Distribution—Admiral Shares | 63 |
Marketing and Distribution—Institutional Shares | 115 |
Custodian Fees | 47 |
Auditing Fees | 40 |
Shareholders’ Reports—ETF Shares | 203 |
Shareholders’ Reports—Admiral Shares | 20 |
Shareholders’ Reports—Institutional Shares | 1 |
Trustees’ Fees and Expenses | 5 |
Other Expenses | 20 |
Total Expenses | 4,171 |
Expenses Paid Indirectly | (17) |
Net Expenses | 4,154 |
Net Investment Income | 279,046 |
Realized Net Gain (Loss) on Investment Securities Sold1,2 | (525,315) |
Change in Unrealized Appreciation (Depreciation) of Investment Securities1 | (756,078) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (1,002,347) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $980,000, ($10,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes ($1,424,000) of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 279,046 | 157,575 |
Realized Net Gain (Loss) | (525,315) | (183,420) |
Change in Unrealized Appreciation (Depreciation) | (756,078) | (1,918,080) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (1,002,347) | (1,943,925) |
Distributions | ||
ETF Shares | (144,706) | (71,135) |
Admiral Shares | (34,189) | (33,426) |
Institutional Shares | (86,373) | (48,139) |
Total Distributions | (265,268) | (152,700) |
Capital Share Transactions | ||
ETF Shares | 4,221,359 | 2,485,336 |
Admiral Shares | (94,992) | (145,223) |
Institutional Shares | 810,730 | 1,174,488 |
Net Increase (Decrease) from Capital Share Transactions | 4,937,097 | 3,514,601 |
Total Increase (Decrease) | 3,669,482 | 1,417,976 |
Net Assets | ||
Beginning of Period | 7,768,302 | 6,350,326 |
End of Period | 11,437,784 | 7,768,302 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $68.45 | $90.37 | $98.93 | $90.17 | $74.33 |
Investment Operations | |||||
Net Investment Income1 | 2.008 | 1.718 | 1.645 | 1.915 | 2.115 |
Net Realized and Unrealized Gain (Loss) on Investments | (8.567) | (21.974) | (8.289) | 8.772 | 15.798 |
Total from Investment Operations | (6.559) | (20.256) | (6.644) | 10.687 | 17.913 |
Distributions | |||||
Dividends from Net Investment Income | (1.911) | (1.664) | (1.625) | (1.927) | (2.073) |
Distributions from Realized Capital Gains | — | — | (.291) | — | — |
Total Distributions | (1.911) | (1.664) | (1.916) | (1.927) | (2.073) |
Net Asset Value, End of Period | $59.98 | $68.45 | $90.37 | $98.93 | $90.17 |
Total Return | -9.70% | -22.69% | -6.73% | 12.02% | 24.69% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $7,322 | $3,813 | $2,366 | $2,138 | $1,282 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04%2 | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 3.19% | 2.19% | 1.81% | 2.03% | 2.75% |
Portfolio Turnover Rate3 | 20% | 19% | 22% | 29% | 16% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $22.98 | $30.35 | $33.24 | $30.28 | $24.95 |
Investment Operations | |||||
Net Investment Income1 | .659 | .565 | .545 | .637 | .706 |
Net Realized and Unrealized Gain (Loss) on Investments | (2.873) | (7.380) | (2.799) | 2.955 | 5.316 |
Total from Investment Operations | (2.214) | (6.815) | (2.254) | 3.592 | 6.022 |
Distributions | |||||
Dividends from Net Investment Income | (.646) | (.555) | (.538) | (.632) | (.692) |
Distributions from Realized Capital Gains | — | — | (.098) | — | — |
Total Distributions | (.646) | (.555) | (.636) | (.632) | (.692) |
Net Asset Value, End of Period | $20.12 | $22.98 | $30.35 | $33.24 | $30.28 |
Total Return2 | -9.73% | -22.69% | -6.78% | 12.00% | 24.67% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,089 | $1,369 | $1,947 | $1,800 | $1,053 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 3.10% | 2.09% | 1.79% | 2.01% | 2.73% |
Portfolio Turnover Rate4 | 20% | 19% | 22% | 29% | 16% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $29.16 | $38.52 | $42.19 | $38.43 | $31.66 |
Investment Operations | |||||
Net Investment Income1 | .847 | .727 | .699 | .822 | .902 |
Net Realized and Unrealized Gain (Loss) on Investments | (3.641) | (9.376) | (3.554) | 3.748 | 6.753 |
Total from Investment Operations | (2.794) | (8.649) | (2.855) | 4.570 | 7.655 |
Distributions | |||||
Dividends from Net Investment Income | (.826) | (.711) | (.691) | (.810) | (.885) |
Distributions from Realized Capital Gains | — | — | (.124) | — | — |
Total Distributions | (.826) | (.711) | (.815) | (.810) | (.885) |
Net Asset Value, End of Period | $25.54 | $29.16 | $38.52 | $42.19 | $38.43 |
Total Return | -9.68% | -22.69% | -6.77% | 12.03% | 24.71% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $3,026 | $2,586 | $2,038 | $1,234 | $1,054 |
Ratio of Total Expenses to Average Net Assets | 0.05%2 | 0.05%2 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 3.14% | 2.15% | 1.82% | 2.06% | 2.75% |
Portfolio Turnover Rate3 | 20% | 19% | 22% | 29% | 16% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 11,335,882 | — | 11,335,882 |
Temporary Cash Investments | 111,454 | — | — | 111,454 |
Total | 111,454 | 11,335,882 | — | 11,447,336 |
Amount ($000) | |
Paid-in Capital | (1,424) |
Total Distributable Earnings (Loss) | 1,424 |
Amount ($000) | |
Undistributed Ordinary Income | 23,233 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (2,759,590) |
Capital Loss Carryforwards | (705,491) |
Qualified Late-Year Losses | — |
Other Temporary Differences | (783) |
Total | (3,442,631) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 265,268 | 152,700 |
Long-Term Capital Gains | — | — |
Total | 265,268 | 152,700 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 14,206,926 |
Gross Unrealized Appreciation | 1,958 |
Gross Unrealized Depreciation | (2,761,548) |
Net Unrealized Appreciation (Depreciation) | (2,759,590) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 5,332,779 | 84,159 | 4,802,980 | 59,507 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,111,420) | (17,800) | (2,317,644) | (29,975) | |
Net Increase (Decrease)—ETF Shares | 4,221,359 | 66,359 | 2,485,336 | 29,532 | |
Admiral Shares | |||||
Issued | 586,170 | 27,686 | 630,037 | 24,179 | |
Issued in Lieu of Cash Distributions | 26,126 | 1,235 | 21,430 | 814 | |
Redeemed | (707,288) | (34,371) | (796,690) | (29,534) | |
Net Increase (Decrease)—Admiral Shares | (94,992) | (5,450) | (145,223) | (4,541) | |
Institutional Shares | |||||
Issued | 1,131,496 | 41,642 | 1,496,186 | 44,963 | |
Issued in Lieu of Cash Distributions | 85,634 | 3,189 | 47,733 | 1,439 | |
Redeemed | (406,400) | (14,995) | (369,431) | (10,630) | |
Net Increase (Decrease)—Institutional Shares | 810,730 | 29,836 | 1,174,488 | 35,772 |
Philadelphia, Pennsylvania
October 19, 2023
Fund | ($000) |
Short-Term Treasury Index Fund | 666,015 |
Intermediate-Term Treasury Index Fund | 459,962 |
Long-Term Treasury Index Fund | 278,035 |
Fund | Percentage |
Short-Term Treasury Index Fund | 100.0% |
Intermediate-Term Treasury Index Fund | 100.0 |
Long-Term Treasury Index Fund | 100.0 |
Fund | Percentage |
Short-Term Treasury Index Fund | 100.0% |
Intermediate-Term Treasury Index Fund | 100.0 |
Long-Term Treasury Index Fund | 100.0 |
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. McIsaac | Lauren Valente |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Vanguard Short-Term Corporate Bond Index Fund |
Vanguard Intermediate-Term Corporate Bond Index Fund |
Vanguard Long-Term Corporate Bond Index Fund |
Your Fund’s Performance at a Glance | 1 |
About Your Fund's Expenses | 2 |
Short-Term Corporate Bond Index Fund | 4 |
Intermediate-Term Corporate Bond Index Fund | 39 |
Long-Term Corporate Bond Index Fund | 69 |
Trustees Approve Advisory Arrangements | 107 |
Liquidity Risk Management | 108 |
• | For the 12 months ended August 31, 2023, returns for the three Vanguard Corporate Bond Index Funds ranged from –2.26% for Institutional Shares of the Long-Term Corporate Bond Index Fund to 2.23% for ETF Shares of the Short-Term Corporate Bond Index Fund (based on net asset value). All three funds closely tracked their expense-free target indexes. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors, including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks including the Federal Reserve fanned fears of recession and weighed on bond prices, the economy proved more resilient than expected. |
• | The yield of the bellwether 10-year U.S. Treasury bond rose significantly over the period, from 3.19% to 4.11%, and corporate bonds outperformed both Treasuries and mortgage-backed securities. |
• | By maturity, shorter-term corporates outpaced their longer-term counterparts. By credit quality, lower-quality bonds did the best. |
• | By sector, bonds issued by financial institutions and industrial companies outperformed those of utilities. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Short-Term Corporate Bond Index Fund | |||
ETF Shares | $1,000.00 | $1,021.50 | $0.20 |
Admiral™ Shares | 1,000.00 | 1,021.30 | 0.36 |
Institutional Shares | 1,000.00 | 1,021.60 | 0.25 |
Intermediate-Term Corporate Bond Index Fund | |||
ETF Shares | $1,000.00 | $1,023.30 | $0.20 |
Admiral Shares | 1,000.00 | 1,023.30 | 0.36 |
Institutional Shares | 1,000.00 | 1,023.40 | 0.26 |
Long-Term Corporate Bond Index Fund | |||
ETF Shares | $1,000.00 | $1,016.30 | $0.20 |
Admiral Shares | 1,000.00 | 1,016.40 | 0.36 |
Institutional Shares | 1,000.00 | 1,016.00 | 0.25 |
Based on Hypothetical 5% Yearly Return | |||
Short-Term Corporate Bond Index Fund | |||
ETF Shares | $1,000.00 | $1,025.00 | $0.20 |
Admiral Shares | 1,000.00 | 1,024.85 | 0.36 |
Institutional Shares | 1,000.00 | 1,024.95 | 0.26 |
Intermediate-Term Corporate Bond Index Fund | |||
ETF Shares | $1,000.00 | $1,025.00 | $0.20 |
Admiral Shares | 1,000.00 | 1,024.85 | 0.36 |
Institutional Shares | 1,000.00 | 1,024.95 | 0.26 |
Long-Term Corporate Bond Index Fund | |||
ETF Shares | $1,000.00 | $1,025.00 | $0.20 |
Admiral Shares | 1,000.00 | 1,024.85 | 0.36 |
Institutional Shares | 1,000.00 | 1,024.95 | 0.26 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Short-Term Corporate Bond Index Fund ETF Shares Net Asset Value | 2.23% | 1.72% | 1.86% | $12,021 | |
Short-Term Corporate Bond Index Fund ETF Shares Market Price | 2.40 | 1.71 | 1.83 | 11,989 | |
Bloomberg U.S. 1–5 Year Corporate Bond Index | 2.26 | 1.80 | 1.96 | 12,137 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Short-Term Corporate Bond Index Fund Admiral Shares | 2.17% | 1.70% | 1.84% | $12,002 | |
Bloomberg U.S. 1–5 Year Corporate Bond Index | 2.26 | 1.80 | 1.96 | 12,137 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Short-Term Corporate Bond Index Fund Institutional Shares | 2.22% | 1.72% | 1.87% | $6,016,590 | |
Bloomberg U.S. 1–5 Year Corporate Bond Index | 2.26 | 1.80 | 1.96 | 6,068,443 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 5,805,239 |
Cumulative Returns of ETF Shares: August 31, 2013, Through August 31, 2023 | |||
One Year | Five Years | Ten Years | |
Short-Term Corporate Bond Index Fund ETF Shares Market Price | 2.40% | 8.84% | 19.89% |
Short-Term Corporate Bond Index Fund ETF Shares Net Asset Value | 2.23 | 8.92 | 20.21 |
Bloomberg U.S. 1–5 Year Corporate Bond Index | 2.26 | 9.35 | 21.37 |
Corporate Bonds – Communications | 5.0% |
Corporate Bonds – Consumer Discretionary | 6.8 |
Corporate Bonds – Consumer Staples | 5.5 |
Corporate Bonds – Energy | 5.3 |
Corporate Bonds – Financials | 43.1 |
Corporate Bonds – Health Care | 8.3 |
Corporate Bonds – Industrials | 6.2 |
Corporate Bonds – Materials | 1.9 |
Corporate Bonds – Real Estate | 3.9 |
Corporate Bonds – Technology | 7.8 |
Corporate Bonds – Utilities | 5.8 |
U.S. Government and Agency Obligations | 0.4 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (0.4%) | ||||||
U.S. Government Securities (0.4%) | ||||||
1 | United States Treasury Note/Bond | 5.000% | 8/31/25 | 5,000 | 5,014 | |
United States Treasury Note/Bond | 4.125% | 7/31/28 | 33,275 | 33,083 | ||
United States Treasury Note/Bond | 4.375% | 8/31/28 | 150,000 | 150,914 | ||
Total U.S. Government and Agency Obligations (Cost $189,010) | 189,011 | |||||
Corporate Bonds (98.4%) | ||||||
Communications (4.9%) | ||||||
Activision Blizzard Inc. | 3.400% | 9/15/26 | 19,358 | 18,496 | ||
Activision Blizzard Inc. | 3.400% | 6/15/27 | 4,308 | 4,072 | ||
Alphabet Inc. | 0.450% | 8/15/25 | 13,297 | 12,202 | ||
Alphabet Inc. | 1.998% | 8/15/26 | 46,925 | 43,429 | ||
Alphabet Inc. | 0.800% | 8/15/27 | 8,813 | 7,642 | ||
AT&T Inc. | 3.875% | 1/15/26 | 23,255 | 22,405 | ||
AT&T Inc. | 5.539% | 2/20/26 | 19,924 | 19,886 | ||
AT&T Inc. | 1.700% | 3/25/26 | 61,811 | 56,346 | ||
AT&T Inc. | 2.950% | 7/15/26 | 5,112 | 4,770 | ||
AT&T Inc. | 3.800% | 2/15/27 | 4,685 | 4,457 | ||
AT&T Inc. | 4.250% | 3/1/27 | 29,658 | 28,569 | ||
AT&T Inc. | 2.300% | 6/1/27 | 49,321 | 44,155 | ||
AT&T Inc. | 1.650% | 2/1/28 | 39,855 | 34,066 | ||
2 | AT&T Inc. | 4.100% | 2/15/28 | 29,910 | 28,377 | |
Baidu Inc. | 3.875% | 9/29/23 | 9,959 | 9,945 | ||
Baidu Inc. | 3.075% | 4/7/25 | 18,051 | 17,310 | ||
Baidu Inc. | 4.125% | 6/30/25 | 5,850 | 5,681 | ||
Baidu Inc. | 1.720% | 4/9/26 | 5,974 | 5,412 | ||
Baidu Inc. | 1.625% | 2/23/27 | 3,171 | 2,797 | ||
Baidu Inc. | 3.625% | 7/6/27 | 12,260 | 11,516 | ||
Baidu Inc. | 4.375% | 3/29/28 | 8,671 | 8,313 | ||
Booking Holdings Inc. | 3.650% | 3/15/25 | 7,763 | 7,572 | ||
Booking Holdings Inc. | 3.600% | 6/1/26 | 12,847 | 12,345 | ||
Booking Holdings Inc. | 3.550% | 3/15/28 | 7,389 | 6,972 | ||
Charter Communications Operating LLC | 4.908% | 7/23/25 | 79,442 | 78,021 | ||
Charter Communications Operating LLC | 3.750% | 2/15/28 | 41,695 | 38,116 | ||
Comcast Corp. | 3.375% | 8/15/25 | 10,759 | 10,400 | ||
Comcast Corp. | 3.950% | 10/15/25 | 63,597 | 61,936 | ||
Comcast Corp. | 3.150% | 3/1/26 | 28,627 | 27,338 | ||
Comcast Corp. | 2.350% | 1/15/27 | 28,869 | 26,471 | ||
Comcast Corp. | 3.300% | 2/1/27 | 35,750 | 33,799 | ||
Comcast Corp. | 3.300% | 4/1/27 | 13,501 | 12,736 | ||
Comcast Corp. | 5.350% | 11/15/27 | 31,740 | 32,183 | ||
Comcast Corp. | 3.150% | 2/15/28 | 19,564 | 18,158 | ||
Comcast Corp. | 3.550% | 5/1/28 | 17,804 | 16,807 | ||
Discovery Communications LLC | 3.900% | 11/15/24 | 12,823 | 12,487 | ||
Discovery Communications LLC | 3.450% | 3/15/25 | 7,919 | 7,620 | ||
Discovery Communications LLC | 3.950% | 6/15/25 | 9,228 | 8,926 | ||
Discovery Communications LLC | 4.900% | 3/11/26 | 7,426 | 7,295 | ||
Discovery Communications LLC | 3.950% | 3/20/28 | 36,583 | 34,012 | ||
Electronic Arts Inc. | 4.800% | 3/1/26 | 12,640 | 12,500 | ||
Expedia Group Inc. | 5.000% | 2/15/26 | 21,968 | 21,698 | ||
Expedia Group Inc. | 4.625% | 8/1/27 | 13,055 | 12,654 | ||
FactSet Research Systems Inc. | 2.900% | 3/1/27 | 11,082 | 10,219 | ||
Fox Corp. | 3.050% | 4/7/25 | 9,315 | 8,956 | ||
Meta Platforms Inc. | 3.500% | 8/15/27 | 48,240 | 45,956 | ||
Meta Platforms Inc. | 4.600% | 5/15/28 | 30,431 | 30,144 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Netflix Inc. | 4.375% | 11/15/26 | 18,463 | 17,952 | ||
Netflix Inc. | 4.875% | 4/15/28 | 30,408 | 29,971 | ||
Netflix Inc. | 5.875% | 11/15/28 | 7,717 | 7,936 | ||
Omnicom Group Inc. | 3.650% | 11/1/24 | 16,546 | 16,161 | ||
Omnicom Group Inc. | 3.600% | 4/15/26 | 18,205 | 17,415 | ||
Paramount Global | 4.750% | 5/15/25 | 12,737 | 12,483 | ||
Paramount Global | 4.000% | 1/15/26 | 10,703 | 10,276 | ||
Paramount Global | 2.900% | 1/15/27 | 17,644 | 15,899 | ||
Paramount Global | 3.375% | 2/15/28 | 6,145 | 5,453 | ||
Paramount Global | 3.700% | 6/1/28 | 8,520 | 7,628 | ||
Rogers Communications Inc. | 2.950% | 3/15/25 | 13,699 | 13,057 | ||
Rogers Communications Inc. | 3.625% | 12/15/25 | 19,381 | 18,443 | ||
Rogers Communications Inc. | 2.900% | 11/15/26 | 3,475 | 3,200 | ||
Rogers Communications Inc. | 3.200% | 3/15/27 | 15,505 | 14,322 | ||
Sprint Capital Corp. | 6.875% | 11/15/28 | 5,307 | 5,607 | ||
Sprint LLC | 7.875% | 9/15/23 | 8,000 | 8,005 | ||
Sprint LLC | 7.625% | 2/15/25 | 21,703 | 22,136 | ||
Sprint LLC | 7.625% | 3/1/26 | 16,729 | 17,346 | ||
Take-Two Interactive Software Inc. | 3.550% | 4/14/25 | 15,631 | 15,111 | ||
Take-Two Interactive Software Inc. | 5.000% | 3/28/26 | 14,858 | 14,681 | ||
Take-Two Interactive Software Inc. | 3.700% | 4/14/27 | 6,578 | 6,233 | ||
Take-Two Interactive Software Inc. | 4.950% | 3/28/28 | 10,060 | 9,908 | ||
TCI Communications Inc. | 7.875% | 2/15/26 | 11,342 | 12,009 | ||
Telefonica Emisiones SA | 4.103% | 3/8/27 | 30,165 | 28,713 | ||
TELUS Corp. | 2.800% | 2/16/27 | 11,192 | 10,370 | ||
Tencent Music Entertainment Group | 1.375% | 9/3/25 | 3,702 | 3,391 | ||
Thomson Reuters Corp. | 3.350% | 5/15/26 | 4,840 | 4,598 | ||
T-Mobile USA Inc. | 3.500% | 4/15/25 | 61,599 | 59,552 | ||
T-Mobile USA Inc. | 1.500% | 2/15/26 | 22,084 | 20,106 | ||
T-Mobile USA Inc. | 2.250% | 2/15/26 | 9,964 | 9,221 | ||
T-Mobile USA Inc. | 2.625% | 4/15/26 | 24,225 | 22,510 | ||
T-Mobile USA Inc. | 3.750% | 4/15/27 | 70,884 | 67,127 | ||
T-Mobile USA Inc. | 5.375% | 4/15/27 | 8,275 | 8,256 | ||
T-Mobile USA Inc. | 4.750% | 2/1/28 | 24,085 | 23,411 | ||
T-Mobile USA Inc. | 2.050% | 2/15/28 | 53,929 | 47,082 | ||
T-Mobile USA Inc. | 4.950% | 3/15/28 | 8,540 | 8,415 | ||
T-Mobile USA Inc. | 4.800% | 7/15/28 | 12,435 | 12,160 | ||
2 | TWDC Enterprises 18 Corp. | 3.150% | 9/17/25 | 17,844 | 17,129 | |
TWDC Enterprises 18 Corp. | 3.000% | 2/13/26 | 22,608 | 21,524 | ||
2 | TWDC Enterprises 18 Corp. | 1.850% | 7/30/26 | 18,207 | 16,675 | |
2 | TWDC Enterprises 18 Corp. | 2.950% | 6/15/27 | 6,240 | 5,852 | |
Verizon Communications Inc. | 3.376% | 2/15/25 | 16,615 | 16,115 | ||
Verizon Communications Inc. | 0.850% | 11/20/25 | 34,024 | 30,852 | ||
Verizon Communications Inc. | 1.450% | 3/20/26 | 38,990 | 35,361 | ||
Verizon Communications Inc. | 2.625% | 8/15/26 | 33,412 | 31,117 | ||
Verizon Communications Inc. | 4.125% | 3/16/27 | 53,030 | 51,071 | ||
Verizon Communications Inc. | 3.000% | 3/22/27 | 23,877 | 22,196 | ||
Verizon Communications Inc. | 2.100% | 3/22/28 | 58,544 | 51,163 | ||
Vodafone Group plc | 4.125% | 5/30/25 | 12,073 | 11,798 | ||
Vodafone Group plc | 4.375% | 5/30/28 | 13,060 | 12,815 | ||
Walt Disney Co. | 3.700% | 9/15/24 | 5,751 | 5,644 | ||
Walt Disney Co. | 3.350% | 3/24/25 | 33,268 | 32,289 | ||
Walt Disney Co. | 3.700% | 10/15/25 | 11,959 | 11,608 | ||
Walt Disney Co. | 1.750% | 1/13/26 | 24,308 | 22,491 | ||
Walt Disney Co. | 3.375% | 11/15/26 | 4,613 | 4,382 | ||
Walt Disney Co. | 3.700% | 3/23/27 | 4,469 | 4,305 | ||
Walt Disney Co. | 2.200% | 1/13/28 | 6,649 | 5,986 | ||
Warnermedia Holdings Inc. | 3.638% | 3/15/25 | 32,385 | 31,334 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Warnermedia Holdings Inc. | 3.788% | 3/15/25 | 6,873 | 6,644 | ||
Warnermedia Holdings Inc. | 3.755% | 3/15/27 | 71,048 | 66,599 | ||
WPP Finance 2010 | 3.750% | 9/19/24 | 8,415 | 8,182 | ||
2,134,443 | ||||||
Consumer Discretionary (6.7%) | ||||||
Advance Auto Parts Inc. | 5.950% | 3/9/28 | 5,521 | 5,461 | ||
Alibaba Group Holding Ltd. | 3.600% | 11/28/24 | 35,846 | 34,918 | ||
Alibaba Group Holding Ltd. | 3.400% | 12/6/27 | 44,130 | 40,995 | ||
Amazon.com Inc. | 0.450% | 5/12/24 | 63,450 | 61,306 | ||
Amazon.com Inc. | 4.700% | 11/29/24 | 9,119 | 9,057 | ||
Amazon.com Inc. | 3.800% | 12/5/24 | 6,585 | 6,467 | ||
Amazon.com Inc. | 3.000% | 4/13/25 | 17,552 | 16,992 | ||
Amazon.com Inc. | 0.800% | 6/3/25 | 37,808 | 35,104 | ||
Amazon.com Inc. | 4.600% | 12/1/25 | 11,749 | 11,666 | ||
Amazon.com Inc. | 5.200% | 12/3/25 | 9,386 | 9,417 | ||
Amazon.com Inc. | 1.000% | 5/12/26 | 41,301 | 37,315 | ||
Amazon.com Inc. | 3.300% | 4/13/27 | 67,438 | 64,185 | ||
Amazon.com Inc. | 1.200% | 6/3/27 | 21,960 | 19,330 | ||
Amazon.com Inc. | 3.150% | 8/22/27 | 64,567 | 60,719 | ||
Amazon.com Inc. | 4.550% | 12/1/27 | 47,688 | 47,477 | ||
Amazon.com Inc. | 1.650% | 5/12/28 | 30,893 | 26,985 | ||
2 | American Honda Finance Corp. | 3.550% | 1/12/24 | 18,853 | 18,702 | |
2 | American Honda Finance Corp. | 2.150% | 9/10/24 | 22,093 | 21,327 | |
2 | American Honda Finance Corp. | 4.600% | 4/17/25 | 14,365 | 14,181 | |
2 | American Honda Finance Corp. | 1.200% | 7/8/25 | 4,765 | 4,417 | |
2 | American Honda Finance Corp. | 1.000% | 9/10/25 | 11,006 | 10,089 | |
2 | American Honda Finance Corp. | 5.250% | 7/7/26 | 9,854 | 9,870 | |
2 | American Honda Finance Corp. | 1.300% | 9/9/26 | 7,026 | 6,269 | |
2 | American Honda Finance Corp. | 2.300% | 9/9/26 | 14,849 | 13,649 | |
2 | American Honda Finance Corp. | 2.350% | 1/8/27 | 26,042 | 23,834 | |
2 | American Honda Finance Corp. | 2.000% | 3/24/28 | 16,203 | 14,176 | |
2 | American Honda Finance Corp. | 5.125% | 7/7/28 | 24,373 | 24,396 | |
Aptiv plc | 2.396% | 2/18/25 | 12,442 | 11,847 | ||
AutoNation Inc. | 3.500% | 11/15/24 | 2,391 | 2,316 | ||
AutoNation Inc. | 4.500% | 10/1/25 | 10,572 | 10,243 | ||
AutoNation Inc. | 3.800% | 11/15/27 | 5,458 | 5,033 | ||
AutoZone Inc. | 3.250% | 4/15/25 | 4,835 | 4,663 | ||
AutoZone Inc. | 3.625% | 4/15/25 | 6,596 | 6,397 | ||
AutoZone Inc. | 3.125% | 4/21/26 | 12,032 | 11,411 | ||
AutoZone Inc. | 5.050% | 7/15/26 | 7,845 | 7,793 | ||
AutoZone Inc. | 3.750% | 6/1/27 | 12,462 | 11,863 | ||
AutoZone Inc. | 4.500% | 2/1/28 | 12,934 | 12,583 | ||
Block Financial LLC | 5.250% | 10/1/25 | 6,841 | 6,740 | ||
BorgWarner Inc. | 3.375% | 3/15/25 | 12,142 | 11,719 | ||
BorgWarner Inc. | 2.650% | 7/1/27 | 23,221 | 21,042 | ||
Darden Restaurants Inc. | 3.850% | 5/1/27 | 9,378 | 8,897 | ||
DR Horton Inc. | 2.500% | 10/15/24 | 7,210 | 6,952 | ||
DR Horton Inc. | 2.600% | 10/15/25 | 17,009 | 15,974 | ||
DR Horton Inc. | 1.300% | 10/15/26 | 10,061 | 8,870 | ||
DR Horton Inc. | 1.400% | 10/15/27 | 5,868 | 5,037 | ||
eBay Inc. | 1.900% | 3/11/25 | 24,965 | 23,646 | ||
eBay Inc. | 5.900% | 11/22/25 | 3,550 | 3,578 | ||
eBay Inc. | 1.400% | 5/10/26 | 14,674 | 13,227 | ||
eBay Inc. | 3.600% | 6/5/27 | 6,016 | 5,677 | ||
eBay Inc. | 5.950% | 11/22/27 | 3,414 | 3,498 | ||
Fortune Brands Innovations Inc. | 4.000% | 6/15/25 | 9,598 | 9,285 | ||
General Motors Co. | 4.000% | 4/1/25 | 13,768 | 13,389 | ||
General Motors Co. | 6.125% | 10/1/25 | 38,116 | 38,298 | ||
General Motors Co. | 4.200% | 10/1/27 | 11,174 | 10,530 | ||
General Motors Co. | 6.800% | 10/1/27 | 25,479 | 26,266 | ||
General Motors Financial Co. Inc. | 1.200% | 10/15/24 | 29,718 | 28,195 | ||
General Motors Financial Co. Inc. | 3.500% | 11/7/24 | 24,913 | 24,197 | ||
General Motors Financial Co. Inc. | 4.000% | 1/15/25 | 7,303 | 7,100 | ||
General Motors Financial Co. Inc. | 2.900% | 2/26/25 | 39,990 | 38,200 | ||
General Motors Financial Co. Inc. | 3.800% | 4/7/25 | 11,213 | 10,833 | ||
General Motors Financial Co. Inc. | 4.350% | 4/9/25 | 39,099 | 38,180 | ||
General Motors Financial Co. Inc. | 2.750% | 6/20/25 | 31,477 | 29,735 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
General Motors Financial Co. Inc. | 4.300% | 7/13/25 | 5,095 | 4,949 | ||
General Motors Financial Co. Inc. | 1.250% | 1/8/26 | 10,494 | 9,426 | ||
General Motors Financial Co. Inc. | 5.250% | 3/1/26 | 7,122 | 7,017 | ||
General Motors Financial Co. Inc. | 5.400% | 4/6/26 | 21,043 | 20,785 | ||
General Motors Financial Co. Inc. | 1.500% | 6/10/26 | 9,937 | 8,821 | ||
General Motors Financial Co. Inc. | 4.000% | 10/6/26 | 12,212 | 11,540 | ||
General Motors Financial Co. Inc. | 4.350% | 1/17/27 | 46,179 | 43,936 | ||
General Motors Financial Co. Inc. | 2.350% | 2/26/27 | 20,628 | 18,342 | ||
General Motors Financial Co. Inc. | 5.000% | 4/9/27 | 49,941 | 48,639 | ||
General Motors Financial Co. Inc. | 2.700% | 8/20/27 | 4,652 | 4,137 | ||
General Motors Financial Co. Inc. | 6.000% | 1/9/28 | 28,900 | 28,966 | ||
General Motors Financial Co. Inc. | 5.800% | 6/23/28 | 36,755 | 36,447 | ||
Genuine Parts Co. | 1.750% | 2/1/25 | 8,326 | 7,870 | ||
Harley-Davidson Inc. | 3.500% | 7/28/25 | 8,765 | 8,414 | ||
Hasbro Inc. | 3.000% | 11/19/24 | 12,778 | 12,354 | ||
Hasbro Inc. | 3.550% | 11/19/26 | 19,881 | 18,684 | ||
Home Depot Inc. | 2.700% | 4/15/25 | �� 5,810 | 5,582 | ||
Home Depot Inc. | 3.350% | 9/15/25 | 15,199 | 14,682 | ||
Home Depot Inc. | 4.000% | 9/15/25 | 7,875 | 7,713 | ||
Home Depot Inc. | 3.000% | 4/1/26 | 24,098 | 23,017 | ||
Home Depot Inc. | 2.125% | 9/15/26 | 16,316 | 15,047 | ||
Home Depot Inc. | 2.500% | 4/15/27 | 39,558 | 36,558 | ||
Home Depot Inc. | 2.875% | 4/15/27 | 13,840 | 12,976 | ||
Home Depot Inc. | 2.800% | 9/14/27 | 33,961 | 31,536 | ||
Home Depot Inc. | 1.500% | 9/15/28 | 6,875 | 5,869 | ||
Honda Motor Co. Ltd. | 2.271% | 3/10/25 | 20,454 | 19,550 | ||
Honda Motor Co. Ltd. | 2.534% | 3/10/27 | 32,724 | 30,085 | ||
Hyatt Hotels Corp. | 1.800% | 10/1/24 | 2,580 | 2,469 | ||
Hyatt Hotels Corp. | 5.375% | 4/23/25 | 14,770 | 14,642 | ||
Hyatt Hotels Corp. | 4.850% | 3/15/26 | 13,391 | 13,120 | ||
Hyatt Hotels Corp. | 5.750% | 1/30/27 | 5,585 | 5,597 | ||
JD.com Inc. | 3.875% | 4/29/26 | 8,803 | 8,425 | ||
Leggett & Platt Inc. | 3.800% | 11/15/24 | 4,846 | 4,722 | ||
Leggett & Platt Inc. | 3.500% | 11/15/27 | 9,213 | 8,494 | ||
Leland Stanford Junior University | 1.289% | 6/1/27 | 7,554 | 6,687 | ||
Lennar Corp. | 4.875% | 12/15/23 | 14,782 | 14,729 | ||
Lennar Corp. | 4.750% | 5/30/25 | 7,613 | 7,474 | ||
Lennar Corp. | 5.250% | 6/1/26 | 4,690 | 4,667 | ||
Lennar Corp. | 5.000% | 6/15/27 | 4,634 | 4,562 | ||
Lennar Corp. | 4.750% | 11/29/27 | 8,388 | 8,129 | ||
3 | LKQ Corp. | 5.750% | 6/15/28 | 14,310 | 14,197 | |
Lowe's Cos. Inc. | 3.125% | 9/15/24 | 3,551 | 3,466 | ||
Lowe's Cos. Inc. | 4.000% | 4/15/25 | 6,688 | 6,538 | ||
Lowe's Cos. Inc. | 4.400% | 9/8/25 | 19,769 | 19,427 | ||
Lowe's Cos. Inc. | 3.375% | 9/15/25 | 11,863 | 11,388 | ||
Lowe's Cos. Inc. | 2.500% | 4/15/26 | 8,167 | 7,630 | ||
Lowe's Cos. Inc. | 3.350% | 4/1/27 | 21,954 | 20,656 | ||
Lowe's Cos. Inc. | 3.100% | 5/3/27 | 45,146 | 42,031 | ||
Lowe's Cos. Inc. | 1.300% | 4/15/28 | 17,605 | 14,881 | ||
Magna International Inc. | 4.150% | 10/1/25 | 4,129 | 4,012 | ||
Marriott International Inc. | 3.750% | 3/15/25 | 5,944 | 5,768 | ||
2 | Marriott International Inc. | 5.750% | 5/1/25 | 11,441 | 11,460 | |
Marriott International Inc. | 3.750% | 10/1/25 | 6,148 | 5,927 | ||
2 | Marriott International Inc. | 3.125% | 6/15/26 | 6,259 | 5,879 | |
Marriott International Inc. | 5.000% | 10/15/27 | 18,395 | 18,209 | ||
2 | Marriott International Inc. | 4.000% | 4/15/28 | 10,295 | 9,669 | |
Masco Corp. | 3.500% | 11/15/27 | 6,183 | 5,748 | ||
Masco Corp. | 1.500% | 2/15/28 | 4,658 | 3,967 | ||
2 | McDonald's Corp. | 3.375% | 5/26/25 | 15,815 | 15,312 | |
2 | McDonald's Corp. | 3.300% | 7/1/25 | 23,529 | 22,743 | |
2 | McDonald's Corp. | 1.450% | 9/1/25 | 4,663 | 4,331 | |
2 | McDonald's Corp. | 3.700% | 1/30/26 | 35,251 | 34,093 | |
2 | McDonald's Corp. | 3.500% | 3/1/27 | 17,795 | 16,935 | |
2 | McDonald's Corp. | 3.500% | 7/1/27 | 13,665 | 12,970 | |
2 | McDonald's Corp. | 3.800% | 4/1/28 | 15,725 | 15,032 | |
McDonald's Corp. | 4.800% | 8/14/28 | 15,020 | 14,944 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3 | Mercedes-Benz Finance North America LLC | 0.750% | 3/1/24 | 5,000 | 4,879 | |
NIKE Inc. | 2.375% | 11/1/26 | 20,128 | 18,644 | ||
NIKE Inc. | 2.750% | 3/27/27 | 33,726 | 31,506 | ||
O'Reilly Automotive Inc. | 3.550% | 3/15/26 | 16,782 | 16,077 | ||
O'Reilly Automotive Inc. | 3.600% | 9/1/27 | 15,591 | 14,767 | ||
Owens Corning | 4.200% | 12/1/24 | 7,116 | 6,973 | ||
Owens Corning | 3.400% | 8/15/26 | 9,696 | 9,159 | ||
PulteGroup Inc. | 5.500% | 3/1/26 | 10,420 | 10,401 | ||
PulteGroup Inc. | 5.000% | 1/15/27 | 7,413 | 7,305 | ||
PVH Corp. | 4.625% | 7/10/25 | 7,777 | 7,522 | ||
Ralph Lauren Corp. | 3.750% | 9/15/25 | 8,654 | 8,382 | ||
Ross Stores Inc. | 4.600% | 4/15/25 | 16,350 | 16,057 | ||
Ross Stores Inc. | 0.875% | 4/15/26 | 3,732 | 3,330 | ||
Sands China Ltd. | 5.375% | 8/8/25 | 31,640 | 30,656 | ||
Sands China Ltd. | 4.300% | 1/8/26 | 14,265 | 13,363 | ||
Sands China Ltd. | 2.800% | 3/8/27 | 12,200 | 10,622 | ||
Sands China Ltd. | 5.650% | 8/8/28 | 21,295 | 20,096 | ||
Snap-on Inc. | 3.250% | 3/1/27 | 2,641 | 2,495 | ||
Stanley Black & Decker Inc. | 3.400% | 3/1/26 | 5,513 | 5,236 | ||
2 | Stanley Black & Decker Inc. | 4.000% | 3/15/60 | 14,624 | 11,533 | |
Starbucks Corp. | 3.800% | 8/15/25 | 28,633 | 27,845 | ||
Starbucks Corp. | 4.750% | 2/15/26 | 11,077 | 10,977 | ||
Starbucks Corp. | 2.450% | 6/15/26 | 9,694 | 9,043 | ||
Starbucks Corp. | 2.000% | 3/12/27 | 5,051 | 4,557 | ||
Starbucks Corp. | 3.500% | 3/1/28 | 10,367 | 9,727 | ||
Tapestry Inc. | 4.125% | 7/15/27 | 9,131 | 8,526 | ||
TJX Cos. Inc. | 2.250% | 9/15/26 | 12,874 | 11,871 | ||
Toll Brothers Finance Corp. | 4.875% | 11/15/25 | 11,160 | 10,920 | ||
Toll Brothers Finance Corp. | 4.350% | 2/15/28 | 8,040 | 7,544 | ||
Toyota Motor Corp. | 1.339% | 3/25/26 | 5,115 | 4,659 | ||
Toyota Motor Corp. | 5.275% | 7/13/26 | 9,285 | 9,334 | ||
Toyota Motor Corp. | 5.118% | 7/13/28 | 12,800 | 12,924 | ||
Toyota Motor Corp. | 2.760% | 7/2/29 | 7,438 | 6,681 | ||
Toyota Motor Credit Corp. | 3.350% | 1/8/24 | 7,691 | 7,625 | ||
Toyota Motor Credit Corp. | 0.625% | 9/13/24 | 18,459 | 17,569 | ||
2 | Toyota Motor Credit Corp. | 4.400% | 9/20/24 | 27,498 | 27,198 | |
2 | Toyota Motor Credit Corp. | 2.000% | 10/7/24 | 10,318 | 9,939 | |
Toyota Motor Credit Corp. | 4.800% | 1/10/25 | 14,986 | 14,890 | ||
2 | Toyota Motor Credit Corp. | 1.450% | 1/13/25 | 14,305 | 13,581 | |
2 | Toyota Motor Credit Corp. | 1.800% | 2/13/25 | 47,853 | 45,491 | |
2 | Toyota Motor Credit Corp. | 3.000% | 4/1/25 | 35,902 | 34,651 | |
2 | Toyota Motor Credit Corp. | 3.400% | 4/14/25 | 17,385 | 16,882 | |
Toyota Motor Credit Corp. | 3.950% | 6/30/25 | 17,445 | 17,040 | ||
2 | Toyota Motor Credit Corp. | 0.800% | 10/16/25 | 16,003 | 14,595 | |
2 | Toyota Motor Credit Corp. | 0.800% | 1/9/26 | 8,406 | 7,617 | |
Toyota Motor Credit Corp. | 4.450% | 5/18/26 | 15,144 | 14,936 | ||
2 | Toyota Motor Credit Corp. | 1.125% | 6/18/26 | 28,420 | 25,541 | |
2 | Toyota Motor Credit Corp. | 5.000% | 8/14/26 | 4,365 | 4,364 | |
2 | Toyota Motor Credit Corp. | 3.200% | 1/11/27 | 31,353 | 29,593 | |
2 | Toyota Motor Credit Corp. | 1.900% | 1/13/27 | 13,321 | 12,050 | |
2 | Toyota Motor Credit Corp. | 3.050% | 3/22/27 | 7,484 | 7,023 | |
2 | Toyota Motor Credit Corp. | 1.150% | 8/13/27 | 11,409 | 9,870 | |
2 | Toyota Motor Credit Corp. | 4.550% | 9/20/27 | 24,115 | 23,747 | |
Toyota Motor Credit Corp. | 5.450% | 11/10/27 | 22,128 | 22,534 | ||
Toyota Motor Credit Corp. | 4.625% | 1/12/28 | 2,634 | 2,608 | ||
2 | Toyota Motor Credit Corp. | 1.900% | 4/6/28 | 13,602 | 12,001 | |
VF Corp. | 2.400% | 4/23/25 | 10,218 | 9,644 | ||
VF Corp. | 2.800% | 4/23/27 | 9,432 | 8,567 | ||
Whirlpool Corp. | 3.700% | 5/1/25 | 6,070 | 5,885 | ||
2 | Yale University | 0.873% | 4/15/25 | 10,906 | 10,183 | |
2,894,625 | ||||||
Consumer Staples (5.4%) | ||||||
Altria Group Inc. | 2.350% | 5/6/25 | 17,541 | 16,618 | ||
Altria Group Inc. | 4.400% | 2/14/26 | 13,544 | 13,247 | ||
Altria Group Inc. | 2.625% | 9/16/26 | 4,989 | 4,626 | ||
2 | Anheuser-Busch Cos. LLC | 3.650% | 2/1/26 | 49,840 | 48,163 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Anheuser-Busch InBev Worldwide Inc. | 4.000% | 4/13/28 | 51,285 | 49,378 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.750% | 1/23/29 | 19,950 | 19,769 | ||
Archer-Daniels-Midland Co. | 2.500% | 8/11/26 | 15,444 | 14,498 | ||
Avery Dennison Corp. | 4.875% | 12/6/28 | 10,242 | 10,011 | ||
BAT Capital Corp. | 2.789% | 9/6/24 | 8,029 | 7,790 | ||
BAT Capital Corp. | 3.215% | 9/6/26 | 19,400 | 18,112 | ||
BAT Capital Corp. | 4.700% | 4/2/27 | 15,181 | 14,716 | ||
BAT Capital Corp. | 3.557% | 8/15/27 | 15,454 | 14,332 | ||
BAT Capital Corp. | 2.259% | 3/25/28 | 35,956 | 30,943 | ||
BAT International Finance plc | 1.668% | 3/25/26 | 34,796 | 31,514 | ||
BAT International Finance plc | 4.448% | 3/16/28 | 19,141 | 18,156 | ||
BAT International Finance plc | 5.931% | 2/2/29 | 5,000 | 4,980 | ||
Brown-Forman Corp. | 3.500% | 4/15/25 | 5,729 | 5,561 | ||
Bunge Ltd. Finance Corp. | 1.630% | 8/17/25 | 9,369 | 8,676 | ||
Bunge Ltd. Finance Corp. | 3.250% | 8/15/26 | 22,501 | 21,183 | ||
Campbell Soup Co. | 3.950% | 3/15/25 | 23,627 | 23,014 | ||
Campbell Soup Co. | 3.300% | 3/19/25 | 6,861 | 6,615 | ||
Campbell Soup Co. | 4.150% | 3/15/28 | 24,460 | 23,289 | ||
Church & Dwight Co. Inc. | 3.150% | 8/1/27 | 8,160 | 7,677 | ||
Clorox Co. | 3.100% | 10/1/27 | 5,982 | 5,531 | ||
Clorox Co. | 4.400% | 5/1/29 | 7,183 | 6,951 | ||
Coca-Cola Co. | 1.750% | 9/6/24 | 17,696 | 17,059 | ||
Coca-Cola Co. | 3.375% | 3/25/27 | 25,559 | 24,466 | ||
Coca-Cola Co. | 2.900% | 5/25/27 | 6,089 | 5,724 | ||
Coca-Cola Co. | 1.450% | 6/1/27 | 36,423 | 32,521 | ||
Coca-Cola Consolidated Inc. | 3.800% | 11/25/25 | 7,340 | 7,100 | ||
Colgate-Palmolive Co. | 4.800% | 3/2/26 | 10,847 | 10,858 | ||
Colgate-Palmolive Co. | 3.100% | 8/15/27 | 16,813 | 15,986 | ||
Colgate-Palmolive Co. | 4.600% | 3/1/28 | 9,655 | 9,688 | ||
Conagra Brands Inc. | 4.300% | 5/1/24 | 15,826 | 15,652 | ||
Conagra Brands Inc. | 4.600% | 11/1/25 | 26,199 | 25,644 | ||
Conagra Brands Inc. | 1.375% | 11/1/27 | 7,360 | 6,251 | ||
Constellation Brands Inc. | 4.750% | 11/15/24 | 6,893 | 6,824 | ||
Constellation Brands Inc. | 4.400% | 11/15/25 | 13,880 | 13,579 | ||
Constellation Brands Inc. | 4.750% | 12/1/25 | 9,931 | 9,780 | ||
Constellation Brands Inc. | 5.000% | 2/2/26 | 4,451 | 4,393 | ||
Constellation Brands Inc. | 3.700% | 12/6/26 | 12,590 | 11,980 | ||
Constellation Brands Inc. | 3.500% | 5/9/27 | 21,653 | 20,369 | ||
Constellation Brands Inc. | 4.350% | 5/9/27 | 15,245 | 14,754 | ||
Constellation Brands Inc. | 3.600% | 2/15/28 | 4,354 | 4,061 | ||
Constellation Brands Inc. | 4.650% | 11/15/28 | 4,720 | 4,587 | ||
Costco Wholesale Corp. | 2.750% | 5/18/24 | 24,732 | 24,238 | ||
Costco Wholesale Corp. | 3.000% | 5/18/27 | 14,388 | 13,591 | ||
Costco Wholesale Corp. | 1.375% | 6/20/27 | 33,146 | 29,302 | ||
Diageo Capital plc | 2.125% | 10/24/24 | 3,126 | 3,008 | ||
Diageo Capital plc | 1.375% | 9/29/25 | 17,033 | 15,726 | ||
Diageo Capital plc | 5.300% | 10/24/27 | 21,830 | 22,106 | ||
Diageo Capital plc | 3.875% | 5/18/28 | 2,940 | 2,829 | ||
Diageo Capital plc | 2.375% | 10/24/29 | 5,000 | 4,320 | ||
Dollar General Corp. | 4.250% | 9/20/24 | 25,240 | 24,807 | ||
Dollar General Corp. | 4.150% | 11/1/25 | 8,899 | 8,654 | ||
Dollar General Corp. | 3.875% | 4/15/27 | 9,472 | 9,040 | ||
Dollar General Corp. | 4.625% | 11/1/27 | 14,185 | 13,828 | ||
Dollar General Corp. | 4.125% | 5/1/28 | 9,528 | 9,058 | ||
Dollar General Corp. | 5.200% | 7/5/28 | 6,575 | 6,511 | ||
Dollar Tree Inc. | 4.000% | 5/15/25 | 21,829 | 21,184 | ||
Dollar Tree Inc. | 4.200% | 5/15/28 | 21,809 | 20,682 | ||
Estee Lauder Cos. Inc. | 2.000% | 12/1/24 | 15,557 | 14,927 | ||
Estee Lauder Cos. Inc. | 3.150% | 3/15/27 | 7,057 | 6,675 | ||
Estee Lauder Cos. Inc. | 4.375% | 5/15/28 | 12,350 | 12,051 | ||
Flowers Foods Inc. | 3.500% | 10/1/26 | 6,959 | 6,537 | ||
General Mills Inc. | 4.000% | 4/17/25 | 16,925 | 16,494 | ||
General Mills Inc. | 3.200% | 2/10/27 | 17,805 | 16,735 | ||
General Mills Inc. | 4.200% | 4/17/28 | 29,832 | 28,626 | ||
Haleon UK Capital plc | 3.125% | 3/24/25 | 24,716 | 23,764 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Haleon US Capital LLC | 3.375% | 3/24/27 | 26,371 | 24,793 | ||
Haleon US Capital LLC | 3.375% | 3/24/29 | 6,278 | 5,739 | ||
Hershey Co. | 2.050% | 11/15/24 | 2,941 | 2,831 | ||
Hershey Co. | 0.900% | 6/1/25 | 5,636 | 5,232 | ||
Hershey Co. | 3.200% | 8/21/25 | 2,433 | 2,349 | ||
Hershey Co. | 2.300% | 8/15/26 | 2,902 | 2,716 | ||
Hershey Co. | 4.250% | 5/4/28 | 4,600 | 4,537 | ||
Hormel Foods Corp. | 1.700% | 6/3/28 | 13,141 | 11,370 | ||
Ingredion Inc. | 3.200% | 10/1/26 | 9,874 | 9,317 | ||
J M Smucker Co. | 3.500% | 3/15/25 | 10,539 | 10,213 | ||
J M Smucker Co. | 3.375% | 12/15/27 | 3,228 | 3,015 | ||
JBS USA LUX SA | 2.500% | 1/15/27 | 26,852 | 24,141 | ||
JBS USA LUX SA | 5.125% | 2/1/28 | 11,685 | 11,358 | ||
Kellogg Co. | 2.650% | 12/1/23 | 12,172 | 12,074 | ||
Kellogg Co. | 3.250% | 4/1/26 | 3,975 | 3,782 | ||
Kellogg Co. | 4.300% | 5/15/28 | 6,799 | 6,537 | ||
3 | Kenvue Inc. | 5.500% | 3/22/25 | 13,310 | 13,351 | |
3 | Kenvue Inc. | 5.350% | 3/22/26 | 9,420 | 9,467 | |
3 | Kenvue Inc. | 5.050% | 3/22/28 | 24,875 | 24,937 | |
Keurig Dr Pepper Inc. | 3.130% | 12/15/23 | 8,800 | 8,731 | ||
Keurig Dr Pepper Inc. | 4.417% | 5/25/25 | 3,433 | 3,365 | ||
Keurig Dr Pepper Inc. | 3.400% | 11/15/25 | 10,831 | 10,360 | ||
Keurig Dr Pepper Inc. | 2.550% | 9/15/26 | 11,831 | 10,920 | ||
Keurig Dr Pepper Inc. | 3.430% | 6/15/27 | 3,533 | 3,317 | ||
Keurig Dr Pepper Inc. | 4.597% | 5/25/28 | 25,000 | 24,390 | ||
Kimberly-Clark Corp. | 3.050% | 8/15/25 | 7,135 | 6,862 | ||
Kimberly-Clark Corp. | 2.750% | 2/15/26 | 2,234 | 2,129 | ||
Kraft Heinz Foods Co. | 3.000% | 6/1/26 | 33,483 | 31,563 | ||
Kraft Heinz Foods Co. | 3.875% | 5/15/27 | 34,203 | 32,672 | ||
Kroger Co. | 3.500% | 2/1/26 | 4,127 | 3,942 | ||
Kroger Co. | 2.650% | 10/15/26 | 21,634 | 20,008 | ||
Kroger Co. | 3.700% | 8/1/27 | 2,999 | 2,848 | ||
McCormick & Co. Inc. | 0.900% | 2/15/26 | 2,319 | 2,087 | ||
McCormick & Co. Inc. | 3.400% | 8/15/27 | 14,273 | 13,368 | ||
Mead Johnson Nutrition Co. | 4.125% | 11/15/25 | 23,374 | 22,758 | ||
Molson Coors Beverage Co. | 3.000% | 7/15/26 | 19,982 | 18,723 | ||
Mondelez International Inc. | 1.500% | 5/4/25 | 8,792 | 8,223 | ||
Mondelez International Inc. | 2.625% | 3/17/27 | 6,455 | 5,933 | ||
Mondelez International Inc. | 4.125% | 5/7/28 | 161 | 156 | ||
PepsiCo Inc. | 2.250% | 3/19/25 | 22,394 | 21,434 | ||
PepsiCo Inc. | 2.750% | 4/30/25 | 26,393 | 25,382 | ||
PepsiCo Inc. | 3.500% | 7/17/25 | 17,823 | 17,320 | ||
PepsiCo Inc. | 2.850% | 2/24/26 | 22,660 | 21,577 | ||
PepsiCo Inc. | 2.375% | 10/6/26 | 19,569 | 18,324 | ||
PepsiCo Inc. | 2.625% | 3/19/27 | 18,061 | 16,830 | ||
PepsiCo Inc. | 3.000% | 10/15/27 | 21,608 | 20,300 | ||
PepsiCo Inc. | 3.600% | 2/18/28 | 6,798 | 6,512 | ||
PepsiCo Inc. | 4.450% | 5/15/28 | 4,305 | 4,287 | ||
Philip Morris International Inc. | 2.875% | 5/1/24 | 16,532 | 16,223 | ||
Philip Morris International Inc. | 3.250% | 11/10/24 | 5,281 | 5,142 | ||
Philip Morris International Inc. | 5.125% | 11/15/24 | 22,535 | 22,424 | ||
Philip Morris International Inc. | 1.500% | 5/1/25 | 6,818 | 6,403 | ||
Philip Morris International Inc. | 3.375% | 8/11/25 | 13,470 | 12,991 | ||
Philip Morris International Inc. | 5.000% | 11/17/25 | 10,921 | 10,854 | ||
Philip Morris International Inc. | 4.875% | 2/13/26 | 16,515 | 16,354 | ||
Philip Morris International Inc. | 2.750% | 2/25/26 | 16,622 | 15,678 | ||
Philip Morris International Inc. | 0.875% | 5/1/26 | 14,995 | 13,427 | ||
Philip Morris International Inc. | 5.125% | 11/17/27 | 47,932 | 47,812 | ||
Philip Morris International Inc. | 4.875% | 2/15/28 | 44,094 | 43,473 | ||
Procter & Gamble Co. | 0.550% | 10/29/25 | 21,957 | 20,006 | ||
Procter & Gamble Co. | 2.700% | 2/2/26 | 10,669 | 10,169 | ||
Procter & Gamble Co. | 2.450% | 11/3/26 | 29,378 | 27,499 | ||
Procter & Gamble Co. | 1.900% | 2/1/27 | 8,826 | 8,070 | ||
Procter & Gamble Co. | 2.800% | 3/25/27 | 10,834 | 10,161 | ||
Procter & Gamble Co. | 2.850% | 8/11/27 | 11,343 | 10,626 | ||
Procter & Gamble Co. | 3.950% | 1/26/28 | 9,675 | 9,499 | ||
Reynolds American Inc. | 4.450% | 6/12/25 | 31,911 | 31,217 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Sysco Corp. | 3.750% | 10/1/25 | 17,205 | 16,632 | ||
Sysco Corp. | 3.300% | 7/15/26 | 25,043 | 23,762 | ||
Sysco Corp. | 3.250% | 7/15/27 | 6,010 | 5,602 | ||
Target Corp. | 2.250% | 4/15/25 | 18,488 | 17,665 | ||
Target Corp. | 2.500% | 4/15/26 | 7,269 | 6,884 | ||
Target Corp. | 1.950% | 1/15/27 | 33,676 | 30,684 | ||
Tyson Foods Inc. | 4.000% | 3/1/26 | 3,842 | 3,713 | ||
Tyson Foods Inc. | 3.550% | 6/2/27 | 26,645 | 25,036 | ||
Unilever Capital Corp. | 2.600% | 5/5/24 | 10,248 | 10,034 | ||
Unilever Capital Corp. | 3.375% | 3/22/25 | 4,371 | 4,249 | ||
Unilever Capital Corp. | 3.100% | 7/30/25 | 7,294 | 7,035 | ||
Unilever Capital Corp. | 2.000% | 7/28/26 | ���12,555 | 11,610 | ||
Unilever Capital Corp. | 2.900% | 5/5/27 | 13,636 | 12,727 | ||
Unilever Capital Corp. | 3.500% | 3/22/28 | 9,898 | 9,405 | ||
Walgreens Boots Alliance Inc. | 3.800% | 11/18/24 | 22,466 | 21,929 | ||
Walgreens Boots Alliance Inc. | 3.450% | 6/1/26 | 22,304 | 21,066 | ||
Walmart Inc. | 2.650% | 12/15/24 | 6,583 | 6,375 | ||
Walmart Inc. | 3.550% | 6/26/25 | 17,162 | 16,703 | ||
Walmart Inc. | 3.900% | 9/9/25 | 24,771 | 24,240 | ||
Walmart Inc. | 4.000% | 4/15/26 | 7,979 | 7,825 | ||
Walmart Inc. | 3.050% | 7/8/26 | 12,831 | 12,261 | ||
Walmart Inc. | 1.050% | 9/17/26 | 29,155 | 26,120 | ||
Walmart Inc. | 3.950% | 9/9/27 | 22,822 | 22,285 | ||
Walmart Inc. | 3.900% | 4/15/28 | 17,325 | 16,805 | ||
Walmart Inc. | 3.700% | 6/26/28 | 27,195 | 26,209 | ||
2,338,283 | ||||||
Energy (5.2%) | ||||||
Baker Hughes Holdings LLC | 2.061% | 12/15/26 | 12,081 | 10,924 | ||
Baker Hughes Holdings LLC | 3.337% | 12/15/27 | 23,741 | 22,023 | ||
Boardwalk Pipelines LP | 4.950% | 12/15/24 | 4,437 | 4,373 | ||
Boardwalk Pipelines LP | 5.950% | 6/1/26 | 8,047 | 8,060 | ||
Boardwalk Pipelines LP | 4.450% | 7/15/27 | 4,038 | 3,848 | ||
BP Capital Markets America Inc. | 3.796% | 9/21/25 | 22,810 | 22,205 | ||
BP Capital Markets America Inc. | 3.410% | 2/11/26 | 22,922 | 22,032 | ||
2 | BP Capital Markets America Inc. | 3.119% | 5/4/26 | 23,743 | 22,574 | |
2 | BP Capital Markets America Inc. | 3.017% | 1/16/27 | 10,060 | 9,440 | |
BP Capital Markets America Inc. | 3.543% | 4/6/27 | 16,564 | 15,801 | ||
2 | BP Capital Markets America Inc. | 3.588% | 4/14/27 | 16,911 | 16,110 | |
BP Capital Markets America Inc. | 3.937% | 9/21/28 | 4,050 | 3,870 | ||
BP Capital Markets plc | 3.279% | 9/19/27 | 11,799 | 11,110 | ||
BP Capital Markets plc | 3.723% | 11/28/28 | 3,132 | 2,944 | ||
Canadian Natural Resources Ltd. | 3.900% | 2/1/25 | 6,214 | 6,041 | ||
Canadian Natural Resources Ltd. | 2.050% | 7/15/25 | 15,583 | 14,600 | ||
Canadian Natural Resources Ltd. | 3.850% | 6/1/27 | 33,415 | 31,620 | ||
Cenovus Energy Inc. | 4.250% | 4/15/27 | 14,080 | 13,528 | ||
Cheniere Corpus Christi Holdings LLC | 5.875% | 3/31/25 | 34,841 | 34,734 | ||
Cheniere Corpus Christi Holdings LLC | 5.125% | 6/30/27 | 17,125 | 16,948 | ||
Chevron Corp. | 1.554% | 5/11/25 | 53,487 | 50,321 | ||
Chevron Corp. | 3.326% | 11/17/25 | 15,305 | 14,801 | ||
Chevron Corp. | 2.954% | 5/16/26 | 27,207 | 25,927 | ||
Chevron Corp. | 1.995% | 5/11/27 | 16,974 | 15,386 | ||
Chevron USA Inc. | 3.900% | 11/15/24 | 3,720 | 3,656 | ||
Chevron USA Inc. | 0.687% | 8/12/25 | 21,038 | 19,352 | ||
Chevron USA Inc. | 1.018% | 8/12/27 | 7,599 | 6,596 | ||
Chevron USA Inc. | 3.850% | 1/15/28 | 5,122 | 4,949 | ||
Columbia Pipeline Group Inc. | 4.500% | 6/1/25 | 17,587 | 17,165 | ||
ConocoPhillips Co. | 2.400% | 3/7/25 | 1,283 | 1,230 | ||
Continental Resources Inc. | 4.375% | 1/15/28 | 20,000 | 18,821 | ||
Coterra Energy Inc. | 3.900% | 5/15/27 | 24,769 | 23,530 | ||
DCP Midstream Operating LP | 5.375% | 7/15/25 | 6,320 | 6,263 | ||
DCP Midstream Operating LP | 5.625% | 7/15/27 | 12,210 | 12,222 | ||
Devon Energy Corp. | 5.250% | 9/15/24 | 8,690 | 8,639 | ||
Devon Energy Corp. | 5.850% | 12/15/25 | 13,062 | 13,122 | ||
Diamondback Energy Inc. | 3.250% | 12/1/26 | 22,795 | 21,434 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | Eastern Gas Transmission & Storage Inc. | 3.600% | 12/15/24 | 3,581 | 3,451 | |
Enbridge Energy Partners LP | 5.875% | 10/15/25 | 8,593 | 8,635 | ||
Enbridge Inc. | 2.500% | 1/15/25 | 6,315 | 6,048 | ||
Enbridge Inc. | 2.500% | 2/14/25 | 4,803 | 4,588 | ||
Enbridge Inc. | 1.600% | 10/4/26 | 4,626 | 4,147 | ||
Enbridge Inc. | 4.250% | 12/1/26 | 23,894 | 23,062 | ||
Enbridge Inc. | 3.700% | 7/15/27 | 4,208 | 3,968 | ||
Energy Transfer LP | 4.050% | 3/15/25 | 25,312 | 24,642 | ||
Energy Transfer LP | 2.900% | 5/15/25 | 26,540 | 25,228 | ||
Energy Transfer LP | 5.950% | 12/1/25 | 8,558 | 8,573 | ||
Energy Transfer LP | 4.750% | 1/15/26 | 12,131 | 11,881 | ||
Energy Transfer LP | 3.900% | 7/15/26 | 6,572 | 6,277 | ||
Energy Transfer LP | 4.400% | 3/15/27 | 20,067 | 19,234 | ||
Energy Transfer LP | 4.200% | 4/15/27 | 16,950 | 16,151 | ||
2 | Energy Transfer LP | 5.500% | 6/1/27 | 26,019 | 25,871 | |
Energy Transfer LP | 4.000% | 10/1/27 | 4,602 | 4,322 | ||
Energy Transfer LP | 5.550% | 2/15/28 | 22,616 | 22,542 | ||
Energy Transfer LP | 4.950% | 5/15/28 | 9,016 | 8,761 | ||
Energy Transfer LP | 4.950% | 6/15/28 | 11,958 | 11,579 | ||
Enterprise Products Operating LLC | 3.750% | 2/15/25 | 33,453 | 32,550 | ||
Enterprise Products Operating LLC | 5.050% | 1/10/26 | 5,649 | 5,621 | ||
Enterprise Products Operating LLC | 3.700% | 2/15/26 | 20,576 | 19,849 | ||
Enterprise Products Operating LLC | 3.950% | 2/15/27 | 14,370 | 13,816 | ||
2 | Enterprise Products Operating LLC | 5.250% | 8/16/77 | 17,716 | 15,598 | |
2 | Enterprise Products Operating LLC | 5.375% | 2/15/78 | 13,900 | 11,552 | |
EOG Resources Inc. | 3.150% | 4/1/25 | 10,762 | 10,409 | ||
EOG Resources Inc. | 4.150% | 1/15/26 | 15,618 | 15,290 | ||
EQT Corp. | 6.125% | 2/1/25 | 11,045 | 11,025 | ||
EQT Corp. | 3.900% | 10/1/27 | 18,758 | 17,545 | ||
EQT Corp. | 5.700% | 4/1/28 | 4,815 | 4,800 | ||
Exxon Mobil Corp. | 2.709% | 3/6/25 | 28,711 | 27,694 | ||
Exxon Mobil Corp. | 2.992% | 3/19/25 | 59,472 | 57,582 | ||
Exxon Mobil Corp. | 3.043% | 3/1/26 | 53,101 | 50,733 | ||
Exxon Mobil Corp. | 2.275% | 8/16/26 | 19,045 | 17,741 | ||
Exxon Mobil Corp. | 3.294% | 3/19/27 | 13,605 | 12,974 | ||
Halliburton Co. | 3.800% | 11/15/25 | 9,467 | 9,227 | ||
Hess Corp. | 4.300% | 4/1/27 | 23,525 | 22,631 | ||
HF Sinclair Corp. | 5.875% | 4/1/26 | 18,297 | 18,368 | ||
Kinder Morgan Energy Partners LP | 4.250% | 9/1/24 | 13,471 | 13,256 | ||
Kinder Morgan Inc. | 4.300% | 6/1/25 | 22,454 | 21,951 | ||
Kinder Morgan Inc. | 1.750% | 11/15/26 | 8,694 | 7,780 | ||
Kinder Morgan Inc. | 4.300% | 3/1/28 | 16,651 | 15,869 | ||
Magellan Midstream Partners LP | 5.000% | 3/1/26 | 16,252 | 16,059 | ||
Marathon Oil Corp. | 4.400% | 7/15/27 | 23,312 | 22,227 | ||
Marathon Petroleum Corp. | 3.625% | 9/15/24 | 5,386 | 5,269 | ||
Marathon Petroleum Corp. | 4.700% | 5/1/25 | 32,005 | 31,451 | ||
Marathon Petroleum Corp. | 5.125% | 12/15/26 | 14,405 | 14,338 | ||
Marathon Petroleum Corp. | 3.800% | 4/1/28 | 5,943 | 5,554 | ||
MPLX LP | 4.875% | 12/1/24 | 21,590 | 21,314 | ||
MPLX LP | 4.000% | 2/15/25 | 3,954 | 3,851 | ||
MPLX LP | 4.875% | 6/1/25 | 27,960 | 27,522 | ||
MPLX LP | 1.750% | 3/1/26 | 17,682 | 16,106 | ||
MPLX LP | 4.125% | 3/1/27 | 31,412 | 30,094 | ||
MPLX LP | 4.250% | 12/1/27 | 3,478 | 3,311 | ||
MPLX LP | 4.000% | 3/15/28 | 22,651 | 21,264 | ||
Northwest Pipeline LLC | 4.000% | 4/1/27 | 2,328 | 2,215 | ||
Occidental Petroleum Corp. | 5.875% | 9/1/25 | 10,826 | 10,807 | ||
Occidental Petroleum Corp. | 5.500% | 12/1/25 | 8,316 | 8,239 | ||
Occidental Petroleum Corp. | 5.550% | 3/15/26 | 15,238 | 15,105 | ||
Occidental Petroleum Corp. | 8.500% | 7/15/27 | 8,558 | 9,251 | ||
ONEOK Inc. | 2.750% | 9/1/24 | 2,339 | 2,267 | ||
ONEOK Inc. | 2.200% | 9/15/25 | 7,778 | 7,240 | ||
ONEOK Inc. | 5.850% | 1/15/26 | 12,858 | 12,924 | ||
ONEOK Inc. | 5.550% | 11/1/26 | 2,783 | 2,784 | ||
ONEOK Inc. | 4.000% | 7/13/27 | 13,116 | 12,417 | ||
ONEOK Inc. | 4.550% | 7/15/28 | 8,525 | 8,129 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
ONEOK Partners LP | 4.900% | 3/15/25 | 17,280 | 17,007 | ||
Ovintiv Inc. | 5.375% | 1/1/26 | 17,950 | 17,817 | ||
Ovintiv Inc. | 5.650% | 5/15/28 | 13,518 | 13,434 | ||
Phillips 66 | 3.850% | 4/9/25 | 11,871 | 11,553 | ||
Phillips 66 | 1.300% | 2/15/26 | 2,581 | 2,342 | ||
Phillips 66 | 3.900% | 3/15/28 | 5,770 | 5,465 | ||
Phillips 66 Co. | 2.450% | 12/15/24 | 3,251 | 3,122 | ||
Phillips 66 Co. | 3.605% | 2/15/25 | 12,312 | 11,966 | ||
Phillips 66 Co. | 3.550% | 10/1/26 | 9,755 | 9,229 | ||
Phillips 66 Co. | 4.950% | 12/1/27 | 16,098 | 15,923 | ||
Pioneer Natural Resources Co. | 1.125% | 1/15/26 | 7,430 | 6,733 | ||
Plains All American Pipeline LP | 3.600% | 11/1/24 | 6,000 | 5,843 | ||
Plains All American Pipeline LP | 4.650% | 10/15/25 | 18,109 | 17,653 | ||
Plains All American Pipeline LP | 4.500% | 12/15/26 | 17,431 | 16,861 | ||
Sabine Pass Liquefaction LLC | 5.625% | 3/1/25 | 52,957 | 52,807 | ||
Sabine Pass Liquefaction LLC | 5.875% | 6/30/26 | 21,391 | 21,489 | ||
Sabine Pass Liquefaction LLC | 5.000% | 3/15/27 | 32,881 | 32,324 | ||
Sabine Pass Liquefaction LLC | 4.200% | 3/15/28 | 24,280 | 23,008 | ||
Schlumberger Finance Canada Ltd. | 1.400% | 9/17/25 | 8,056 | 7,450 | ||
Schlumberger Investment SA | 3.650% | 12/1/23 | 1 | 1 | ||
Schlumberger Investment SA | 4.500% | 5/15/28 | 10,071 | 9,887 | ||
Shell International Finance BV | 2.000% | 11/7/24 | 8,530 | 8,202 | ||
Shell International Finance BV | 3.250% | 5/11/25 | 49,931 | 48,354 | ||
Shell International Finance BV | 2.875% | 5/10/26 | 30,729 | 29,141 | ||
Shell International Finance BV | 2.500% | 9/12/26 | 21,432 | 19,931 | ||
Spectra Energy Partners LP | 3.500% | 3/15/25 | 9,163 | 8,848 | ||
Spectra Energy Partners LP | 3.375% | 10/15/26 | 12,781 | 12,034 | ||
Targa Resources Corp. | 5.200% | 7/1/27 | 5,203 | 5,151 | ||
Targa Resources Partners LP | 6.500% | 7/15/27 | 19,225 | 19,330 | ||
Targa Resources Partners LP | 5.000% | 1/15/28 | 12,328 | 11,881 | ||
TC PipeLines LP | 4.375% | 3/13/25 | 5,836 | 5,689 | ||
TC PipeLines LP | 3.900% | 5/25/27 | 11,173 | 10,550 | ||
Tennessee Gas Pipeline Co. LLC | 7.000% | 3/15/27 | 3,443 | 3,587 | ||
TotalEnergies Capital International SA | 2.434% | 1/10/25 | 15,184 | 14,605 | ||
TransCanada PipeLines Ltd. | 1.000% | 10/12/24 | 8,041 | 7,628 | ||
TransCanada PipeLines Ltd. | 4.875% | 1/15/26 | 21,583 | 21,310 | ||
TransCanada PipeLines Ltd. | 4.250% | 5/15/28 | 24,601 | 23,426 | ||
Transcontinental Gas Pipe Line Co. LLC | 7.850% | 2/1/26 | 11,689 | 12,215 | ||
Transcontinental Gas Pipe Line Co. LLC | 4.000% | 3/15/28 | 4,486 | 4,235 | ||
Valero Energy Corp. | 2.150% | 9/15/27 | 5,825 | 5,187 | ||
Valero Energy Corp. | 4.350% | 6/1/28 | 12,779 | 12,222 | ||
Valero Energy Partners LP | 4.500% | 3/15/28 | 15,307 | 14,736 | ||
Western Midstream Operating LP | 3.100% | 2/1/25 | 13,398 | 12,835 | ||
Western Midstream Operating LP | 4.500% | 3/1/28 | 7,304 | 6,881 | ||
Western Midstream Operating LP | 4.750% | 8/15/28 | 2,544 | 2,409 | ||
Williams Cos. Inc. | 3.900% | 1/15/25 | 10,048 | 9,800 | ||
Williams Cos. Inc. | 4.000% | 9/15/25 | 23,094 | 22,360 | ||
Williams Cos. Inc. | 5.400% | 3/2/26 | 7,498 | 7,487 | ||
Williams Cos. Inc. | 3.750% | 6/15/27 | 34,055 | 32,065 | ||
Williams Cos. Inc. | 5.300% | 8/15/28 | 13,834 | 13,769 | ||
2,246,540 | ||||||
Financials (42.6%) | ||||||
2 | Aegon NV | 5.500% | 4/11/48 | 13,825 | 13,000 | |
AerCap Ireland Capital DAC | 1.650% | 10/29/24 | 72,253 | 68,658 | ||
2 | AerCap Ireland Capital DAC | 1.750% | 10/29/24 | 20,935 | 19,895 | |
AerCap Ireland Capital DAC | 3.500% | 1/15/25 | 25,273 | 24,395 | ||
AerCap Ireland Capital DAC | 6.500% | 7/15/25 | 16,750 | 16,828 | ||
AerCap Ireland Capital DAC | 4.450% | 10/1/25 | 21,526 | 20,845 | ||
AerCap Ireland Capital DAC | 1.750% | 1/30/26 | 6,437 | 5,829 | ||
AerCap Ireland Capital DAC | 4.450% | 4/3/26 | 2,492 | 2,401 | ||
AerCap Ireland Capital DAC | 2.450% | 10/29/26 | 96,085 | 86,430 | ||
AerCap Ireland Capital DAC | 3.650% | 7/21/27 | 23,166 | 21,329 | ||
AerCap Ireland Capital DAC | 3.875% | 1/23/28 | 3,291 | 3,029 | ||
AerCap Ireland Capital DAC | 5.750% | 6/6/28 | 7,375 | 7,303 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
AerCap Ireland Capital DAC | 3.000% | 10/29/28 | 5,000 | 4,333 | ||
Affiliated Managers Group Inc. | 3.500% | 8/1/25 | 10,839 | 10,343 | ||
Aflac Inc. | 1.125% | 3/15/26 | 19,344 | 17,435 | ||
Air Lease Corp. | 4.250% | 9/15/24 | 11,568 | 11,349 | ||
2 | Air Lease Corp. | 2.300% | 2/1/25 | 15,634 | 14,807 | |
Air Lease Corp. | 3.250% | 3/1/25 | 14,140 | 13,548 | ||
Air Lease Corp. | 3.375% | 7/1/25 | 10,639 | 10,141 | ||
2 | Air Lease Corp. | 2.875% | 1/15/26 | 20,281 | 18,954 | |
2 | Air Lease Corp. | 3.750% | 6/1/26 | 13,341 | 12,689 | |
Air Lease Corp. | 1.875% | 8/15/26 | 29,821 | 26,677 | ||
Air Lease Corp. | 2.200% | 1/15/27 | 7,554 | 6,748 | ||
Air Lease Corp. | 3.625% | 4/1/27 | 4,399 | 4,087 | ||
Air Lease Corp. | 3.625% | 12/1/27 | 8,405 | 7,721 | ||
Air Lease Corp. | 5.850% | 12/15/27 | 9,340 | 9,344 | ||
Air Lease Corp. | 5.300% | 2/1/28 | 13,148 | 12,921 | ||
Aircastle Ltd. | 4.250% | 6/15/26 | 14,801 | 14,042 | ||
Allied World Assurance Co. Holdings Ltd. | 4.350% | 10/29/25 | 9,525 | 9,113 | ||
Allstate Corp. | 0.750% | 12/15/25 | 7,090 | 6,397 | ||
Allstate Corp. | 3.280% | 12/15/26 | 2,966 | 2,803 | ||
Ally Financial Inc. | 5.125% | 9/30/24 | 20,726 | 20,408 | ||
Ally Financial Inc. | 4.625% | 3/30/25 | 17,188 | 16,621 | ||
Ally Financial Inc. | 5.800% | 5/1/25 | 7,725 | 7,609 | ||
Ally Financial Inc. | 4.750% | 6/9/27 | 6,789 | 6,355 | ||
Ally Financial Inc. | 7.100% | 11/15/27 | 15,595 | 15,802 | ||
Ally Financial Inc. | 6.992% | 6/13/29 | 13,030 | 13,008 | ||
American Equity Investment Life Holding Co. | 5.000% | 6/15/27 | 13,903 | 13,334 | ||
American Express Co. | 3.000% | 10/30/24 | 30,076 | 29,200 | ||
American Express Co. | 3.625% | 12/5/24 | 15,613 | 15,204 | ||
American Express Co. | 2.250% | 3/4/25 | 45,662 | 43,414 | ||
American Express Co. | 3.950% | 8/1/25 | 28,144 | 27,312 | ||
American Express Co. | 4.200% | 11/6/25 | 15,847 | 15,432 | ||
American Express Co. | 4.990% | 5/1/26 | 24,240 | 23,897 | ||
American Express Co. | 3.125% | 5/20/26 | 6,253 | 5,911 | ||
American Express Co. | 1.650% | 11/4/26 | 26,694 | 23,808 | ||
American Express Co. | 2.550% | 3/4/27 | 37,111 | 33,744 | ||
American Express Co. | 3.300% | 5/3/27 | 55,154 | 51,389 | ||
American Express Co. | 5.389% | 7/28/27 | 17,990 | 17,888 | ||
American Express Co. | 5.850% | 11/5/27 | 10,972 | 11,203 | ||
American Express Co. | 5.282% | 7/27/29 | 26,865 | 26,571 | ||
2 | American Express Credit Corp. | 3.300% | 5/3/27 | 3,857 | 3,600 | |
American International Group Inc. | 2.500% | 6/30/25 | 24,242 | 22,945 | ||
American International Group Inc. | 3.900% | 4/1/26 | 13,685 | 13,201 | ||
American International Group Inc. | 4.200% | 4/1/28 | 1,901 | 1,816 | ||
2 | American International Group Inc. | 5.750% | 4/1/48 | 12,230 | 11,599 | |
Ameriprise Financial Inc. | 3.700% | 10/15/24 | 2,532 | 2,477 | ||
Ameriprise Financial Inc. | 3.000% | 4/2/25 | 6,887 | 6,621 | ||
Ameriprise Financial Inc. | 2.875% | 9/15/26 | 7,344 | 6,870 | ||
2 | Aon Corp. | 8.205% | 1/1/27 | 6,026 | 6,339 | |
Aon Corp. | 2.850% | 5/28/27 | 6,034 | 5,550 | ||
Aon Global Ltd. | 3.875% | 12/15/25 | 22,811 | 22,075 | ||
Arch Capital Finance LLC | 4.011% | 12/15/26 | 6,449 | 6,153 | ||
Ares Capital Corp. | 4.250% | 3/1/25 | 5,884 | 5,661 | ||
Ares Capital Corp. | 3.250% | 7/15/25 | 19,691 | 18,461 | ||
Ares Capital Corp. | 3.875% | 1/15/26 | 27,675 | 25,894 | ||
Ares Capital Corp. | 2.150% | 7/15/26 | 25,582 | 22,499 | ||
Ares Capital Corp. | 2.875% | 6/15/27 | 7,738 | 6,813 | ||
Ares Capital Corp. | 2.875% | 6/15/28 | 23,991 | 20,270 | ||
Assurant Inc. | 4.900% | 3/27/28 | 4,603 | 4,449 | ||
Assured Guaranty US Holdings Inc. | 6.125% | 9/15/28 | 4,000 | 4,044 | ||
Athene Holding Ltd. | 4.125% | 1/12/28 | 17,191 | 16,057 | ||
Australia & New Zealand Banking Group Ltd. | 5.375% | 7/3/25 | 17,100 | 17,109 | ||
2 | Australia & New Zealand Banking Group Ltd. | 3.700% | 11/16/25 | 12,216 | 11,815 | |
Australia & New Zealand Banking Group Ltd. | 5.088% | 12/8/25 | 20,635 | 20,542 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
AXIS Specialty Finance plc | 4.000% | 12/6/27 | 5,910 | 5,542 | ||
Bain Capital Specialty Finance Inc. | 2.950% | 3/10/26 | 5,538 | 4,954 | ||
Bain Capital Specialty Finance Inc. | 2.550% | 10/13/26 | 8,223 | 7,111 | ||
Banco Bilbao Vizcaya Argentaria SA | 1.125% | 9/18/25 | 14,497 | 13,224 | ||
Banco Bilbao Vizcaya Argentaria SA | 5.862% | 9/14/26 | 17,505 | 17,360 | ||
Banco Bilbao Vizcaya Argentaria SA | 6.138% | 9/14/28 | 17,590 | 17,661 | ||
Banco Santander SA | 2.746% | 5/28/25 | 44,643 | 42,253 | ||
Banco Santander SA | 5.147% | 8/18/25 | 41,170 | 40,501 | ||
Banco Santander SA | 5.179% | 11/19/25 | 11,525 | 11,268 | ||
Banco Santander SA | 1.849% | 3/25/26 | 17,912 | 16,187 | ||
Banco Santander SA | 4.250% | 4/11/27 | 19,315 | 18,263 | ||
Banco Santander SA | 5.294% | 8/18/27 | 46,755 | 45,791 | ||
Banco Santander SA | 1.722% | 9/14/27 | 26,078 | 22,909 | ||
Banco Santander SA | 3.800% | 2/23/28 | 8,949 | 8,194 | ||
Banco Santander SA | 4.175% | 3/24/28 | 36,170 | 33,884 | ||
Banco Santander SA | 4.379% | 4/12/28 | 12,305 | 11,557 | ||
Banco Santander SA | 5.588% | 8/8/28 | 26,000 | 25,773 | ||
2 | Bank of America Corp. | 4.000% | 1/22/25 | 73,094 | 71,273 | |
2 | Bank of America Corp. | 3.950% | 4/21/25 | 52,968 | 51,306 | |
2 | Bank of America Corp. | 3.875% | 8/1/25 | 20,237 | 19,691 | |
2 | Bank of America Corp. | 0.981% | 9/25/25 | 25,803 | 24,424 | |
2 | Bank of America Corp. | 3.093% | 10/1/25 | 58,079 | 56,277 | |
2 | Bank of America Corp. | 2.456% | 10/22/25 | 16,790 | 16,135 | |
2 | Bank of America Corp. | 1.530% | 12/6/25 | 33,507 | 31,692 | |
2 | Bank of America Corp. | 3.366% | 1/23/26 | 26,228 | 25,281 | |
2 | Bank of America Corp. | 2.015% | 2/13/26 | 27,791 | 26,213 | |
2 | Bank of America Corp. | 4.450% | 3/3/26 | 42,862 | 41,671 | |
2 | Bank of America Corp. | 3.384% | 4/2/26 | 44,409 | 42,688 | |
2 | Bank of America Corp. | 3.500% | 4/19/26 | 71,585 | 68,115 | |
2 | Bank of America Corp. | 1.319% | 6/19/26 | 48,542 | 44,659 | |
2 | Bank of America Corp. | 4.827% | 7/22/26 | 16,513 | 16,204 | |
Bank of America Corp. | 6.220% | 9/15/26 | 8,710 | 8,897 | ||
2 | Bank of America Corp. | 4.250% | 10/22/26 | 20,632 | 19,795 | |
2 | Bank of America Corp. | 1.197% | 10/24/26 | 41,408 | 37,528 | |
Bank of America Corp. | 5.080% | 1/20/27 | 23,526 | 23,217 | ||
2 | Bank of America Corp. | 1.658% | 3/11/27 | 72,962 | 65,903 | |
2 | Bank of America Corp. | 3.559% | 4/23/27 | 57,204 | 54,197 | |
Bank of America Corp. | 1.734% | 7/22/27 | 105,015 | 93,976 | ||
2 | Bank of America Corp. | 3.248% | 10/21/27 | 9,559 | 8,905 | |
2 | Bank of America Corp. | 4.183% | 11/25/27 | 30,568 | 29,011 | |
2 | Bank of America Corp. | 3.824% | 1/20/28 | 30,870 | 29,096 | |
2 | Bank of America Corp. | 2.551% | 2/4/28 | 31,986 | 28,935 | |
2 | Bank of America Corp. | 3.705% | 4/24/28 | 23,649 | 22,130 | |
Bank of America Corp. | 4.376% | 4/27/28 | 57,282 | 54,931 | ||
2 | Bank of America Corp. | 3.593% | 7/21/28 | 39,666 | 36,895 | |
2 | Bank of America Corp. | 4.948% | 7/22/28 | 87,014 | 85,168 | |
Bank of America Corp. | 6.204% | 11/10/28 | 40,078 | 41,020 | ||
2 | Bank of America Corp. | 3.419% | 12/20/28 | 97,882 | 89,707 | |
2 | Bank of America Corp. | 3.970% | 3/5/29 | 45,439 | 42,393 | |
Bank of America Corp. | 5.202% | 4/25/29 | 65,495 | 64,469 | ||
2 | Bank of America Corp. | 2.087% | 6/14/29 | 46,763 | 39,869 | |
2 | Bank of America Corp. | 4.271% | 7/23/29 | 55,047 | 51,929 | |
Bank of America NA | 5.650% | 8/18/25 | 35,760 | 35,899 | ||
Bank of America NA | 5.526% | 8/18/26 | 35,000 | 35,180 | ||
2 | Bank of Montreal | 4.250% | 9/14/24 | 18,771 | 18,473 | |
Bank of Montreal | 5.200% | 12/12/24 | 8,935 | 8,885 | ||
2 | Bank of Montreal | 1.500% | 1/10/25 | 29,033 | 27,470 | |
2 | Bank of Montreal | 1.850% | 5/1/25 | 44,428 | 41,739 | |
2 | Bank of Montreal | 3.700% | 6/7/25 | 36,841 | 35,603 | |
Bank of Montreal | 5.300% | 6/5/26 | 16,390 | 16,329 | ||
2 | Bank of Montreal | 1.250% | 9/15/26 | 14,838 | 13,147 | |
2 | Bank of Montreal | 0.949% | 1/22/27 | 5,681 | 5,098 | |
2 | Bank of Montreal | 2.650% | 3/8/27 | 30,164 | 27,530 | |
2 | Bank of Montreal | 4.700% | 9/14/27 | 22,348 | 21,806 | |
Bank of Montreal | 5.203% | 2/1/28 | 20,775 | 20,607 | ||
2 | Bank of Montreal | 3.803% | 12/15/32 | 14,416 | 12,731 | |
2 | Bank of New York Mellon Corp. | 3.250% | 9/11/24 | 4,567 | 4,457 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | Bank of New York Mellon Corp. | 2.100% | 10/24/24 | 20,717 | 19,970 | |
2 | Bank of New York Mellon Corp. | 3.000% | 2/24/25 | 20,050 | 19,317 | |
2 | Bank of New York Mellon Corp. | 1.600% | 4/24/25 | 29,642 | 27,841 | |
2 | Bank of New York Mellon Corp. | 3.950% | 11/18/25 | 11,762 | 11,372 | |
2 | Bank of New York Mellon Corp. | 5.224% | 11/21/25 | 7,159 | 7,120 | |
2 | Bank of New York Mellon Corp. | 0.750% | 1/28/26 | 3,197 | 2,884 | |
2 | Bank of New York Mellon Corp. | 2.800% | 5/4/26 | 22,072 | 20,723 | |
2 | Bank of New York Mellon Corp. | 5.148% | 5/22/26 | 23,334 | 23,185 | |
Bank of New York Mellon Corp. | 4.414% | 7/24/26 | 25,831 | 25,267 | ||
2 | Bank of New York Mellon Corp. | 2.450% | 8/17/26 | 16,924 | 15,670 | |
2 | Bank of New York Mellon Corp. | 1.050% | 10/15/26 | 2,680 | 2,358 | |
2 | Bank of New York Mellon Corp. | 2.050% | 1/26/27 | 8,856 | 8,000 | |
Bank of New York Mellon Corp. | 4.947% | 4/26/27 | 18,024 | 17,737 | ||
2 | Bank of New York Mellon Corp. | 3.250% | 5/16/27 | 25,050 | 23,504 | |
2 | Bank of New York Mellon Corp. | 3.400% | 1/29/28 | 4,365 | 4,068 | |
2 | Bank of New York Mellon Corp. | 3.442% | 2/7/28 | 39,036 | 36,762 | |
2 | Bank of New York Mellon Corp. | 3.992% | 6/13/28 | 5,901 | 5,638 | |
2 | Bank of New York Mellon Corp. | 1.650% | 7/14/28 | 10,403 | 8,884 | |
2 | Bank of New York Mellon Corp. | 5.802% | 10/25/28 | 23,820 | 24,091 | |
Bank of New York Mellon Corp. | 4.543% | 2/1/29 | 13,918 | 13,512 | ||
Bank of Nova Scotia | 0.650% | 7/31/24 | 25,129 | 23,993 | ||
Bank of Nova Scotia | 5.250% | 12/6/24 | 20,731 | 20,620 | ||
Bank of Nova Scotia | 1.450% | 1/10/25 | 10,779 | 10,194 | ||
Bank of Nova Scotia | 2.200% | 2/3/25 | 29,153 | 27,776 | ||
2 | Bank of Nova Scotia | 3.450% | 4/11/25 | 38,716 | 37,396 | |
Bank of Nova Scotia | 1.300% | 6/11/25 | 14,680 | 13,598 | ||
Bank of Nova Scotia | 5.450% | 6/12/25 | 31,595 | 31,433 | ||
Bank of Nova Scotia | 4.500% | 12/16/25 | 24,151 | 23,407 | ||
Bank of Nova Scotia | 1.050% | 3/2/26 | 3,377 | 3,028 | ||
Bank of Nova Scotia | 1.350% | 6/24/26 | 24,993 | 22,333 | ||
Bank of Nova Scotia | 2.700% | 8/3/26 | 33,259 | 30,902 | ||
Bank of Nova Scotia | 1.300% | 9/15/26 | 20,834 | 18,450 | ||
Bank of Nova Scotia | 1.950% | 2/2/27 | 13,455 | 12,032 | ||
Bank of Nova Scotia | 2.951% | 3/11/27 | 5,279 | 4,870 | ||
Bank of Nova Scotia | 5.250% | 6/12/28 | 9,788 | 9,701 | ||
BankUnited Inc. | 4.875% | 11/17/25 | 9,071 | 8,560 | ||
2 | Barclays Bank plc | 3.750% | 5/15/24 | 13,323 | 13,129 | |
Barclays plc | 4.375% | 9/11/24 | 4,247 | 4,154 | ||
Barclays plc | 3.650% | 3/16/25 | 53,642 | 51,758 | ||
2 | Barclays plc | 3.932% | 5/7/25 | 43,644 | 43,000 | |
Barclays plc | 4.375% | 1/12/26 | 37,801 | 36,437 | ||
2 | Barclays plc | 2.852% | 5/7/26 | 50,733 | 47,954 | |
Barclays plc | 5.200% | 5/12/26 | 32,321 | 31,386 | ||
Barclays plc | 5.304% | 8/9/26 | 23,096 | 22,746 | ||
Barclays plc | 7.325% | 11/2/26 | 18,162 | 18,571 | ||
Barclays plc | 5.829% | 5/9/27 | 28,560 | 28,312 | ||
Barclays plc | 2.279% | 11/24/27 | 16,035 | 14,245 | ||
Barclays plc | 4.836% | 5/9/28 | 41,389 | 38,325 | ||
Barclays plc | 5.501% | 8/9/28 | 35,492 | 34,600 | ||
Barclays plc | 7.385% | 11/2/28 | 49,601 | 51,647 | ||
2 | Barclays plc | 4.972% | 5/16/29 | 24,724 | 23,484 | |
Berkshire Hathaway Finance Corp. | 2.300% | 3/15/27 | 6,750 | 6,257 | ||
Berkshire Hathaway Inc. | 3.125% | 3/15/26 | 45,885 | 43,977 | ||
BGC Partners Inc. | 3.750% | 10/1/24 | 2,360 | 2,273 | ||
3 | BGC Partners Inc. | 8.000% | 5/25/28 | 7,925 | 7,858 | |
BlackRock Inc. | 3.200% | 3/15/27 | 5,110 | 4,854 | ||
Blackstone Private Credit Fund | 2.350% | 11/22/24 | 15,744 | 14,956 | ||
Blackstone Private Credit Fund | 2.700% | 1/15/25 | 8,800 | 8,324 | ||
Blackstone Private Credit Fund | 7.050% | 9/29/25 | 9,517 | 9,583 | ||
Blackstone Private Credit Fund | 2.625% | 12/15/26 | 21,902 | 18,844 | ||
Blackstone Private Credit Fund | 3.250% | 3/15/27 | 28,718 | 25,020 | ||
Blackstone Secured Lending Fund | 3.625% | 1/15/26 | 15,169 | 14,056 | ||
Blackstone Secured Lending Fund | 2.750% | 9/16/26 | 17,643 | 15,577 | ||
Blackstone Secured Lending Fund | 2.125% | 2/15/27 | 12,355 | 10,488 | ||
Blue Owl Capital Corp. | 4.000% | 3/30/25 | 2,908 | 2,766 | ||
Blue Owl Capital Corp. | 3.750% | 7/22/25 | 3,046 | 2,855 | ||
Blue Owl Capital Corp. | 4.250% | 1/15/26 | 8,832 | 8,283 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Blue Owl Capital Corp. | 3.400% | 7/15/26 | 26,264 | 23,646 | ||
Blue Owl Capital Corp. | 2.625% | 1/15/27 | 7,222 | 6,253 | ||
Blue Owl Capital Corp. | 2.875% | 6/11/28 | 15,085 | 12,510 | ||
2 | Blue Owl Credit Income Corp. | 5.500% | 3/21/25 | 9,071 | 8,791 | |
2 | Blue Owl Credit Income Corp. | 3.125% | 9/23/26 | 2,455 | 2,166 | |
2 | Blue Owl Credit Income Corp. | 4.700% | 2/8/27 | 9,255 | 8,476 | |
2 | Blue Owl Credit Income Corp. | 7.750% | 9/16/27 | 13,795 | 13,729 | |
3 | Blue Owl Credit Income Corp. | 7.950% | 6/13/28 | 11,705 | 11,743 | |
Blue Owl Technology Finance Corp. | 2.500% | 1/15/27 | 4,011 | 3,376 | ||
2 | BNP Paribas SA | 4.250% | 10/15/24 | 9,002 | 8,811 | |
3 | BNP Paribas SA | 2.819% | 11/19/25 | 1,160 | 1,113 | |
2 | BPCE SA | 3.375% | 12/2/26 | 8,874 | 8,274 | |
Brighthouse Financial Inc. | 3.700% | 6/22/27 | 12,489 | 11,544 | ||
Brookfield Corp. | 4.000% | 1/15/25 | 8,945 | 8,705 | ||
Brookfield Finance Inc. | 4.250% | 6/2/26 | 10,772 | 10,362 | ||
Brookfield Finance Inc. | 3.900% | 1/25/28 | 14,968 | 13,987 | ||
Brown & Brown Inc. | 4.200% | 9/15/24 | 4,464 | 4,385 | ||
Canadian Imperial Bank of Commerce | 1.000% | 10/18/24 | 6,534 | 6,199 | ||
Canadian Imperial Bank of Commerce | 2.250% | 1/28/25 | 18,371 | 17,520 | ||
Canadian Imperial Bank of Commerce | 3.300% | 4/7/25 | 19,605 | 18,893 | ||
Canadian Imperial Bank of Commerce | 5.144% | 4/28/25 | 15,757 | 15,630 | ||
Canadian Imperial Bank of Commerce | 3.945% | 8/4/25 | 33,372 | 32,333 | ||
Canadian Imperial Bank of Commerce | 1.250% | 6/22/26 | 9,683 | 8,632 | ||
Canadian Imperial Bank of Commerce | 5.615% | 7/17/26 | 4,000 | 4,010 | ||
Canadian Imperial Bank of Commerce | 3.450% | 4/7/27 | 19,240 | 17,970 | ||
Canadian Imperial Bank of Commerce | 5.001% | 4/28/28 | 23,070 | 22,597 | ||
Capital One Financial Corp. | 3.300% | 10/30/24 | 32,945 | 32,005 | ||
Capital One Financial Corp. | 3.200% | 2/5/25 | 24,448 | 23,453 | ||
Capital One Financial Corp. | 4.250% | 4/30/25 | 7,439 | 7,211 | ||
Capital One Financial Corp. | 4.200% | 10/29/25 | 27,373 | 26,312 | ||
Capital One Financial Corp. | 2.636% | 3/3/26 | 10,589 | 10,005 | ||
Capital One Financial Corp. | 4.985% | 7/24/26 | 8,710 | 8,512 | ||
Capital One Financial Corp. | 3.750% | 7/28/26 | 29,715 | 27,788 | ||
Capital One Financial Corp. | 3.750% | 3/9/27 | 28,422 | 26,447 | ||
Capital One Financial Corp. | 3.650% | 5/11/27 | 38,393 | 35,704 | ||
Capital One Financial Corp. | 1.878% | 11/2/27 | 28,291 | 24,804 | ||
Capital One Financial Corp. | 4.927% | 5/10/28 | 30,774 | 29,583 | ||
Capital One Financial Corp. | 5.468% | 2/1/29 | 36,006 | 34,888 | ||
Capital One Financial Corp. | 6.312% | 6/8/29 | 20,775 | 20,764 | ||
2 | Capital One NA | 2.280% | 1/28/26 | 3,732 | 3,528 | |
Cboe Global Markets Inc. | 3.650% | 1/12/27 | 10,468 | 10,012 | ||
Charles Schwab Corp. | 3.000% | 3/10/25 | 10,702 | 10,260 | ||
Charles Schwab Corp. | 4.200% | 3/24/25 | 7,511 | 7,337 | ||
Charles Schwab Corp. | 3.625% | 4/1/25 | 9,250 | 8,959 | ||
Charles Schwab Corp. | 3.850% | 5/21/25 | 21,319 | 20,658 | ||
Charles Schwab Corp. | 3.450% | 2/13/26 | 11,695 | 11,102 | ||
Charles Schwab Corp. | 0.900% | 3/11/26 | 10,928 | 9,751 | ||
Charles Schwab Corp. | 1.150% | 5/13/26 | 27,443 | 24,429 | ||
Charles Schwab Corp. | 3.200% | 3/2/27 | 2,312 | 2,140 | ||
Charles Schwab Corp. | 2.450% | 3/3/27 | 33,031 | 29,737 | ||
Charles Schwab Corp. | 3.300% | 4/1/27 | 8,048 | 7,492 | ||
Charles Schwab Corp. | 3.200% | 1/25/28 | 16,715 | 15,236 | ||
Charles Schwab Corp. | 2.000% | 3/20/28 | 17,460 | 15,041 | ||
Charles Schwab Corp. | 5.643% | 5/19/29 | 25,360 | 25,314 | ||
Chubb INA Holdings Inc. | 3.350% | 5/15/24 | — | 1 | ||
Chubb INA Holdings Inc. | 3.150% | 3/15/25 | 23,088 | 22,338 | ||
Chubb INA Holdings Inc. | 3.350% | 5/3/26 | 35,299 | 33,816 | ||
2 | Cincinnati Financial Corp. | 6.920% | 5/15/28 | 6,625 | 7,066 | |
Citigroup Inc. | 3.875% | 3/26/25 | 40,672 | 39,415 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Citigroup Inc. | 3.300% | 4/27/25 | 16,582 | 16,019 | ||
Citigroup Inc. | 4.400% | 6/10/25 | 58,617 | 57,156 | ||
Citigroup Inc. | 5.500% | 9/13/25 | 25,033 | 24,896 | ||
Citigroup Inc. | 1.281% | 11/3/25 | 27,232 | 25,757 | ||
Citigroup Inc. | 3.700% | 1/12/26 | 39,292 | 37,670 | ||
Citigroup Inc. | 2.014% | 1/25/26 | 57,408 | 54,322 | ||
Citigroup Inc. | 4.600% | 3/9/26 | 32,521 | 31,652 | ||
2 | Citigroup Inc. | 3.106% | 4/8/26 | 68,780 | 65,823 | |
Citigroup Inc. | 3.400% | 5/1/26 | 25,584 | 24,211 | ||
Citigroup Inc. | 5.610% | 9/29/26 | 59,036 | 58,766 | ||
Citigroup Inc. | 3.200% | 10/21/26 | 65,953 | 61,505 | ||
Citigroup Inc. | 4.300% | 11/20/26 | 6,094 | 5,847 | ||
Citigroup Inc. | 1.122% | 1/28/27 | 26,177 | 23,454 | ||
Citigroup Inc. | 1.462% | 6/9/27 | 31,750 | 28,272 | ||
Citigroup Inc. | 4.450% | 9/29/27 | 68,415 | 65,398 | ||
2 | Citigroup Inc. | 3.887% | 1/10/28 | 41,369 | 39,081 | |
2 | Citigroup Inc. | 3.070% | 2/24/28 | 82,326 | 75,598 | |
Citigroup Inc. | 4.658% | 5/24/28 | 26,702 | 25,999 | ||
2 | Citigroup Inc. | 3.668% | 7/24/28 | 58,315 | 54,238 | |
Citigroup Inc. | 4.125% | 7/25/28 | 29,601 | 27,608 | ||
2 | Citigroup Inc. | 3.520% | 10/27/28 | 20,999 | 19,359 | |
2 | Citigroup Inc. | 4.075% | 4/23/29 | 27,308 | 25,605 | |
2 | Citizens Bank NA | 2.250% | 4/28/25 | 8,331 | 7,725 | |
Citizens Bank NA | 6.064% | 10/24/25 | 11,815 | 11,430 | ||
2 | Citizens Bank NA | 3.750% | 2/18/26 | 3,396 | 3,159 | |
Citizens Bank NA | 4.575% | 8/9/28 | 18,010 | 16,786 | ||
Citizens Financial Group Inc. | 4.300% | 12/3/25 | 5,352 | 5,056 | ||
Citizens Financial Group Inc. | 2.850% | 7/27/26 | 14,263 | 12,932 | ||
Citizens Financial Group Inc. | 4.300% | 2/11/31 | 2,336 | 1,952 | ||
CME Group Inc. | 3.000% | 3/15/25 | 14,724 | 14,227 | ||
CME Group Inc. | 3.750% | 6/15/28 | 7,495 | 7,215 | ||
CNA Financial Corp. | 4.500% | 3/1/26 | 9,177 | 8,939 | ||
CNA Financial Corp. | 3.450% | 8/15/27 | 8,437 | 7,879 | ||
CNO Financial Group Inc. | 5.250% | 5/30/25 | 14,308 | 14,021 | ||
2 | Comerica Bank | 4.000% | 7/27/25 | 1,495 | 1,402 | |
Commonwealth Bank of Australia | 5.079% | 1/10/25 | 22,260 | 22,192 | ||
Cooperatieve Rabobank UA | 1.375% | 1/10/25 | 26,761 | 25,326 | ||
2 | Cooperatieve Rabobank UA | 3.375% | 5/21/25 | 15,451 | 14,909 | |
2 | Cooperatieve Rabobank UA | 5.500% | 7/18/25 | 10,369 | 10,373 | |
Cooperatieve Rabobank UA | 4.375% | 8/4/25 | 20,775 | 20,138 | ||
2 | Cooperatieve Rabobank UA | 3.750% | 7/21/26 | 33,786 | 31,725 | |
Corebridge Financial Inc. | 3.650% | 4/5/27 | 48,374 | 45,478 | ||
Corebridge Financial Inc. | 6.875% | 12/15/52 | 17,875 | 17,276 | ||
2 | Credit Suisse AG | 3.625% | 9/9/24 | 82,705 | 80,541 | |
Credit Suisse AG | 7.950% | 1/9/25 | 4,280 | 4,369 | ||
2 | Credit Suisse AG | 3.700% | 2/21/25 | 10,051 | 9,696 | |
Credit Suisse AG | 2.950% | 4/9/25 | 15,419 | 14,645 | ||
Credit Suisse AG | 1.250% | 8/7/26 | 19,377 | 17,009 | ||
Credit Suisse AG | 5.000% | 7/9/27 | 25,162 | 24,515 | ||
Credit Suisse AG | 7.500% | 2/15/28 | 47,030 | 50,300 | ||
Deutsche Bank AG | 4.500% | 4/1/25 | 36,022 | 34,673 | ||
2 | Deutsche Bank AG | 3.961% | 11/26/25 | 27,735 | 26,764 | |
Deutsche Bank AG | 4.100% | 1/13/26 | 4,491 | 4,299 | ||
2 | Deutsche Bank AG | 4.100% | 1/13/26 | 11,763 | 11,188 | |
Deutsche Bank AG | 1.686% | 3/19/26 | 15,505 | 14,077 | ||
Deutsche Bank AG | 6.119% | 7/14/26 | 32,073 | 31,870 | ||
Deutsche Bank AG | 2.129% | 11/24/26 | 16,926 | 15,352 | ||
Deutsche Bank AG | 7.146% | 7/13/27 | 21,725 | 22,039 | ||
Deutsche Bank AG | 5.371% | 9/9/27 | 7,040 | 6,978 | ||
Deutsche Bank AG | 2.311% | 11/16/27 | 33,802 | 29,629 | ||
Deutsche Bank AG | 2.552% | 1/7/28 | 21,399 | 18,893 | ||
Deutsche Bank AG | 6.720% | 1/18/29 | 29,557 | 29,890 | ||
Deutsche Bank AG | 4.875% | 12/1/32 | 18,903 | 16,554 | ||
Discover Bank | 2.450% | 9/12/24 | 3,666 | 3,512 | ||
2 | Discover Bank | 4.250% | 3/13/26 | 3,310 | 3,146 | |
2 | Discover Bank | 3.450% | 7/27/26 | 27,234 | 24,942 | |
Discover Financial Services | 3.950% | 11/6/24 | 2,193 | 2,135 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Discover Financial Services | 3.750% | 3/4/25 | 6,718 | 6,440 | ||
Discover Financial Services | 4.500% | 1/30/26 | 21,828 | 20,964 | ||
Discover Financial Services | 4.100% | 2/9/27 | 20,935 | 19,416 | ||
Eaton Vance Corp. | 3.500% | 4/6/27 | 2,780 | 2,611 | ||
Enstar Finance LLC | 5.750% | 9/1/40 | 949 | 829 | ||
Enstar Finance LLC | 5.500% | 1/15/42 | 8,354 | 6,615 | ||
Enstar Group Ltd. | 4.950% | 6/1/29 | 1,714 | 1,604 | ||
Equitable Holdings Inc. | 4.350% | 4/20/28 | 29,549 | 27,966 | ||
3 | F&G Annuities & Life Inc. | 7.400% | 1/13/28 | 8,760 | 8,920 | |
Fairfax Financial Holdings Ltd. | 4.850% | 4/17/28 | 10,740 | 10,341 | ||
Fidelity National Financial Inc. | 4.500% | 8/15/28 | 4,194 | 3,942 | ||
Fifth Third Bancorp | 2.375% | 1/28/25 | 11,422 | 10,866 | ||
Fifth Third Bancorp | 2.550% | 5/5/27 | 20,133 | 17,999 | ||
Fifth Third Bancorp | 1.707% | 11/1/27 | 16,032 | 13,933 | ||
Fifth Third Bancorp | 4.055% | 4/25/28 | 3,714 | 3,471 | ||
Fifth Third Bancorp | 6.361% | 10/27/28 | 30,797 | 31,038 | ||
Fifth Third Bancorp | 6.339% | 7/27/29 | 22,428 | 22,692 | ||
2 | Fifth Third Bank NA | 3.950% | 7/28/25 | 9,402 | 9,070 | |
Fifth Third Bank NA | 5.852% | 10/27/25 | 18,254 | 17,992 | ||
2 | Fifth Third Bank NA | 3.850% | 3/15/26 | 12,996 | 12,122 | |
2 | Fifth Third Bank NA | 2.250% | 2/1/27 | 9,622 | 8,539 | |
First American Financial Corp. | 4.600% | 11/15/24 | 5,019 | 4,928 | ||
First Horizon Corp. | 4.000% | 5/26/25 | 10,386 | 9,816 | ||
2 | First-Citizens Bank & Trust Co. | 2.969% | 9/27/25 | 2,364 | 2,260 | |
First-Citizens Bank & Trust Co. | 6.125% | 3/9/28 | 6,515 | 6,547 | ||
Franklin BSP Lending Corp. | 3.250% | 3/30/26 | 2,321 | 2,083 | ||
Franklin Resources Inc. | 2.850% | 3/30/25 | 10,284 | 9,865 | ||
FS KKR Capital Corp. | 4.125% | 2/1/25 | 5,106 | 4,909 | ||
FS KKR Capital Corp. | 3.400% | 1/15/26 | 33,666 | 30,877 | ||
FS KKR Capital Corp. | 2.625% | 1/15/27 | 7,659 | 6,611 | ||
GATX Corp. | 3.250% | 3/30/25 | 3,895 | 3,736 | ||
GATX Corp. | 3.250% | 9/15/26 | 5,679 | 5,274 | ||
GATX Corp. | 3.850% | 3/30/27 | 5,716 | 5,358 | ||
GE Capital Funding LLC | 3.450% | 5/15/25 | 26,478 | 25,351 | ||
Global Payments Inc. | 1.500% | 11/15/24 | 17,823 | 16,893 | ||
Global Payments Inc. | 2.650% | 2/15/25 | 23,469 | 22,406 | ||
Global Payments Inc. | 1.200% | 3/1/26 | 26,371 | 23,572 | ||
Global Payments Inc. | 4.800% | 4/1/26 | 20,473 | 20,020 | ||
Global Payments Inc. | 2.150% | 1/15/27 | 9,308 | 8,301 | ||
Global Payments Inc. | 4.950% | 8/15/27 | 9,266 | 9,029 | ||
Globe Life Inc. | 4.550% | 9/15/28 | 1,409 | 1,365 | ||
Goldman Sachs BDC Inc. | 3.750% | 2/10/25 | 6,482 | 6,266 | ||
Goldman Sachs BDC Inc. | 2.875% | 1/15/26 | 5,238 | 4,863 | ||
Goldman Sachs Group Inc. | 5.700% | 11/1/24 | 7,931 | 7,917 | ||
Goldman Sachs Group Inc. | 3.500% | 1/23/25 | 50,025 | 48,470 | ||
Goldman Sachs Group Inc. | 3.500% | 4/1/25 | 81,047 | 78,227 | ||
Goldman Sachs Group Inc. | 3.750% | 5/22/25 | 32,702 | 31,601 | ||
2 | Goldman Sachs Group Inc. | 3.272% | 9/29/25 | 29,156 | 28,292 | |
Goldman Sachs Group Inc. | 4.250% | 10/21/25 | 37,417 | 36,278 | ||
Goldman Sachs Group Inc. | 0.855% | 2/12/26 | 16,028 | 14,874 | ||
Goldman Sachs Group Inc. | 3.750% | 2/25/26 | 41,381 | 39,669 | ||
Goldman Sachs Group Inc. | 5.798% | 8/10/26 | 31,234 | 31,128 | ||
Goldman Sachs Group Inc. | 3.500% | 11/16/26 | 45,678 | 42,938 | ||
2 | Goldman Sachs Group Inc. | 1.093% | 12/9/26 | 29,181 | 26,190 | |
Goldman Sachs Group Inc. | 5.950% | 1/15/27 | 11,511 | 11,623 | ||
Goldman Sachs Group Inc. | 3.850% | 1/26/27 | 47,654 | 45,221 | ||
Goldman Sachs Group Inc. | 1.431% | 3/9/27 | 40,834 | 36,607 | ||
Goldman Sachs Group Inc. | 4.387% | 6/15/27 | 14,283 | 13,854 | ||
Goldman Sachs Group Inc. | 1.542% | 9/10/27 | 47,697 | 42,089 | ||
Goldman Sachs Group Inc. | 1.948% | 10/21/27 | 83,479 | 74,281 | ||
Goldman Sachs Group Inc. | 2.640% | 2/24/28 | 79,834 | 72,227 | ||
Goldman Sachs Group Inc. | 3.615% | 3/15/28 | 63,951 | 59,818 | ||
2 | Goldman Sachs Group Inc. | 3.691% | 6/5/28 | 42,867 | 40,130 | |
Goldman Sachs Group Inc. | 4.482% | 8/23/28 | 60,349 | 58,063 | ||
2 | Goldman Sachs Group Inc. | 3.814% | 4/23/29 | 33,039 | 30,562 | |
2 | Goldman Sachs Group Inc. | 4.223% | 5/1/29 | 52,855 | 49,751 | |
Golub Capital BDC Inc. | 2.500% | 8/24/26 | 13,819 | 12,145 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Golub Capital BDC Inc. | 2.050% | 2/15/27 | 4,141 | 3,497 | ||
Hanover Insurance Group Inc. | 4.500% | 4/15/26 | 3,906 | 3,792 | ||
Hercules Capital Inc. | 2.625% | 9/16/26 | 2,453 | 2,143 | ||
HSBC Holdings plc | 4.250% | 8/18/25 | 27,321 | 26,342 | ||
2 | HSBC Holdings plc | 2.633% | 11/7/25 | 33,113 | 31,751 | |
HSBC Holdings plc | 4.180% | 12/9/25 | 22,512 | 21,934 | ||
HSBC Holdings plc | 4.300% | 3/8/26 | 48,218 | 46,598 | ||
HSBC Holdings plc | 2.999% | 3/10/26 | 46,941 | 44,799 | ||
2 | HSBC Holdings plc | 1.645% | 4/18/26 | 54,586 | 50,838 | |
HSBC Holdings plc | 3.900% | 5/25/26 | 31,781 | 30,265 | ||
2 | HSBC Holdings plc | 2.099% | 6/4/26 | 60,349 | 56,246 | |
2 | HSBC Holdings plc | 4.292% | 9/12/26 | 70,414 | 67,902 | |
HSBC Holdings plc | 7.336% | 11/3/26 | 31,349 | 32,254 | ||
HSBC Holdings plc | 4.375% | 11/23/26 | 35,720 | 34,025 | ||
HSBC Holdings plc | 1.589% | 5/24/27 | 23,843 | 21,197 | ||
HSBC Holdings plc | 5.887% | 8/14/27 | 16,660 | 16,609 | ||
HSBC Holdings plc | 2.251% | 11/22/27 | 49,059 | 43,718 | ||
2 | HSBC Holdings plc | 4.041% | 3/13/28 | 43,975 | 41,274 | |
HSBC Holdings plc | 4.755% | 6/9/28 | 28,843 | 27,658 | ||
HSBC Holdings plc | 5.210% | 8/11/28 | 33,817 | 32,994 | ||
2 | HSBC Holdings plc | 2.013% | 9/22/28 | 20,883 | 17,932 | |
HSBC Holdings plc | 7.390% | 11/3/28 | 45,403 | 47,692 | ||
HSBC Holdings plc | 6.161% | 3/9/29 | 39,516 | 39,781 | ||
2 | HSBC Holdings plc | 4.583% | 6/19/29 | 50,285 | 47,467 | |
HSBC Holdings plc | 2.206% | 8/17/29 | 39,875 | 33,398 | ||
Huntington Bancshares Inc. | 4.000% | 5/15/25 | 11,359 | 10,942 | ||
Huntington Bancshares Inc. | 4.443% | 8/4/28 | 16,525 | 15,542 | ||
Huntington Bancshares Inc. | 6.208% | 8/21/29 | 22,940 | 23,090 | ||
Huntington National Bank | 5.699% | 11/18/25 | 25,067 | 24,593 | ||
Huntington National Bank | 4.552% | 5/17/28 | 10,475 | 9,913 | ||
ING Groep NV | 3.869% | 3/28/26 | 19,933 | 19,303 | ||
ING Groep NV | 3.950% | 3/29/27 | 41,736 | 39,593 | ||
ING Groep NV | 1.726% | 4/1/27 | 5,703 | 5,130 | ||
ING Groep NV | 4.017% | 3/28/28 | 17,625 | 16,585 | ||
Intercontinental Exchange Inc. | 3.650% | 5/23/25 | 35,715 | 34,631 | ||
Intercontinental Exchange Inc. | 3.750% | 12/1/25 | 31,178 | 30,094 | ||
Intercontinental Exchange Inc. | 3.100% | 9/15/27 | 9,485 | 8,782 | ||
Intercontinental Exchange Inc. | 4.000% | 9/15/27 | 26,786 | 25,664 | ||
Invesco Finance plc | 3.750% | 1/15/26 | 9,598 | 9,236 | ||
Janus Henderson US Holdings Inc. | 4.875% | 8/1/25 | 2,759 | 2,703 | ||
Jefferies Financial Group Inc. | 4.850% | 1/15/27 | 7,942 | 7,724 | ||
Jefferies Financial Group Inc. | 6.450% | 6/8/27 | 9,287 | 9,447 | ||
Jefferies Financial Group Inc. | 5.875% | 7/21/28 | 17,475 | 17,285 | ||
JPMorgan Chase & Co. | 3.875% | 2/1/24 | 1 | 1 | ||
JPMorgan Chase & Co. | 3.875% | 9/10/24 | 54,919 | 53,804 | ||
JPMorgan Chase & Co. | 3.125% | 1/23/25 | 53,438 | 51,703 | ||
JPMorgan Chase & Co. | 3.900% | 7/15/25 | 35,760 | 34,749 | ||
2 | JPMorgan Chase & Co. | 2.301% | 10/15/25 | 23,020 | 22,080 | |
JPMorgan Chase & Co. | 1.561% | 12/10/25 | 52,635 | 49,713 | ||
JPMorgan Chase & Co. | 5.546% | 12/15/25 | 59,948 | 59,735 | ||
JPMorgan Chase & Co. | 2.595% | 2/24/26 | 19,911 | 19,013 | ||
2 | JPMorgan Chase & Co. | 2.005% | 3/13/26 | 63,481 | 59,885 | |
JPMorgan Chase & Co. | 3.300% | 4/1/26 | 38,346 | 36,425 | ||
2 | JPMorgan Chase & Co. | 2.083% | 4/22/26 | 58,632 | 55,161 | |
JPMorgan Chase & Co. | 4.080% | 4/26/26 | 52,080 | 50,780 | ||
JPMorgan Chase & Co. | 3.200% | 6/15/26 | 35,384 | 33,522 | ||
JPMorgan Chase & Co. | 2.950% | 10/1/26 | 49,981 | 46,676 | ||
JPMorgan Chase & Co. | 7.625% | 10/15/26 | 11,536 | 12,263 | ||
JPMorgan Chase & Co. | 1.045% | 11/19/26 | 43,119 | 38,903 | ||
JPMorgan Chase & Co. | 4.125% | 12/15/26 | 41,008 | 39,465 | ||
2 | JPMorgan Chase & Co. | 3.960% | 1/29/27 | 22,911 | 22,036 | |
JPMorgan Chase & Co. | 1.040% | 2/4/27 | 27,892 | 24,925 | ||
JPMorgan Chase & Co. | 1.578% | 4/22/27 | 66,332 | 59,567 | ||
JPMorgan Chase & Co. | 8.000% | 4/29/27 | 16,603 | 18,210 | ||
JPMorgan Chase & Co. | 1.470% | 9/22/27 | 49,854 | 44,031 | ||
JPMorgan Chase & Co. | 4.250% | 10/1/27 | 6,128 | 5,926 | ||
2 | JPMorgan Chase & Co. | 3.782% | 2/1/28 | 52,469 | 49,543 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
JPMorgan Chase & Co. | 2.947% | 2/24/28 | 38,638 | 35,436 | ||
JPMorgan Chase & Co. | 4.323% | 4/26/28 | 64,810 | 62,329 | ||
2 | JPMorgan Chase & Co. | 3.540% | 5/1/28 | 82,043 | 76,612 | |
2 | JPMorgan Chase & Co. | 2.182% | 6/1/28 | 9,301 | 8,260 | |
JPMorgan Chase & Co. | 4.851% | 7/25/28 | 67,512 | 66,166 | ||
2 | JPMorgan Chase & Co. | 3.509% | 1/23/29 | 34,125 | 31,453 | |
2 | JPMorgan Chase & Co. | 4.005% | 4/23/29 | 51,858 | 48,620 | |
JPMorgan Chase & Co. | 2.069% | 6/1/29 | 34,960 | 29,981 | ||
2 | JPMorgan Chase & Co. | 4.203% | 7/23/29 | 40,343 | 38,092 | |
JPMorgan Chase & Co. | 5.299% | 7/24/29 | 37,163 | 36,951 | ||
Kemper Corp. | 4.350% | 2/15/25 | 8,298 | 8,060 | ||
2 | KeyBank NA | 3.300% | 6/1/25 | 10,512 | 9,837 | |
2 | KeyBank NA | 4.150% | 8/8/25 | 24,030 | 22,729 | |
KeyBank NA | 4.700% | 1/26/26 | 3,600 | 3,432 | ||
2 | KeyBank NA | 3.400% | 5/20/26 | 8,895 | 7,940 | |
2 | KeyBank NA | 5.850% | 11/15/27 | 10,939 | 10,562 | |
2 | KeyBank NA | 4.390% | 12/14/27 | 11,600 | 10,575 | |
2 | KeyBank NA | 6.950% | 2/1/28 | 5,000 | 4,922 | |
2 | KeyCorp | 3.878% | 5/23/25 | 3,169 | 3,021 | |
2 | KeyCorp | 4.150% | 10/29/25 | 8,597 | 8,125 | |
2 | KeyCorp | 2.250% | 4/6/27 | 22,895 | 19,657 | |
2 | KeyCorp | 4.100% | 4/30/28 | 10,471 | 9,402 | |
Lazard Group LLC | 3.750% | 2/13/25 | 11,459 | 11,077 | ||
Lazard Group LLC | 3.625% | 3/1/27 | 10,167 | 9,423 | ||
Legg Mason Inc. | 4.750% | 3/15/26 | 2,720 | 2,674 | ||
Lincoln National Corp. | 3.350% | 3/9/25 | 2,337 | 2,242 | ||
Lincoln National Corp. | 3.625% | 12/12/26 | 4,869 | 4,559 | ||
Lincoln National Corp. | 3.800% | 3/1/28 | 8,200 | 7,519 | ||
Lloyds Bank plc | 3.500% | 5/14/25 | 3,384 | 3,248 | ||
Lloyds Banking Group plc | 4.500% | 11/4/24 | 31,409 | 30,712 | ||
Lloyds Banking Group plc | 4.450% | 5/8/25 | 23,255 | 22,691 | ||
Lloyds Banking Group plc | 4.582% | 12/10/25 | 36,684 | 35,308 | ||
2 | Lloyds Banking Group plc | 2.438% | 2/5/26 | 33,634 | 31,898 | |
Lloyds Banking Group plc | 3.511% | 3/18/26 | 6,300 | 6,058 | ||
Lloyds Banking Group plc | 4.650% | 3/24/26 | 9,610 | 9,275 | ||
Lloyds Banking Group plc | 4.716% | 8/11/26 | 25,374 | 24,802 | ||
Lloyds Banking Group plc | 3.750% | 1/11/27 | 15,946 | 14,984 | ||
Lloyds Banking Group plc | 1.627% | 5/11/27 | 7,539 | 6,732 | ||
Lloyds Banking Group plc | 3.750% | 3/18/28 | 21,740 | 20,221 | ||
Lloyds Banking Group plc | 4.375% | 3/22/28 | 35,384 | 33,498 | ||
Lloyds Banking Group plc | 4.550% | 8/16/28 | 7,360 | 6,979 | ||
2 | Lloyds Banking Group plc | 3.574% | 11/7/28 | 13,570 | 12,319 | |
Lloyds Banking Group plc | 5.871% | 3/6/29 | 50,547 | 50,181 | ||
Loews Corp. | 3.750% | 4/1/26 | 8,830 | 8,504 | ||
M&T Bank Corp. | 4.553% | 8/16/28 | 6,557 | 6,138 | ||
Main Street Capital Corp. | 3.000% | 7/14/26 | 10,321 | 9,146 | ||
2 | Manufacturers & Traders Trust Co. | 2.900% | 2/6/25 | 13,756 | 13,066 | |
Manufacturers & Traders Trust Co. | 5.400% | 11/21/25 | 11,461 | 11,191 | ||
Manufacturers & Traders Trust Co. | 4.650% | 1/27/26 | 21,190 | 20,271 | ||
2 | Manufacturers & Traders Trust Co. | 3.400% | 8/17/27 | 13,405 | 11,950 | |
Manufacturers & Traders Trust Co. | 4.700% | 1/27/28 | 27,509 | 25,687 | ||
Manulife Financial Corp. | 4.150% | 3/4/26 | 14,213 | 13,812 | ||
Manulife Financial Corp. | 2.484% | 5/19/27 | 11,560 | 10,587 | ||
2 | Manulife Financial Corp. | 4.061% | 2/24/32 | 13,392 | 12,538 | |
Markel Group Inc. | 3.500% | 11/1/27 | 5,769 | 5,384 | ||
Marsh & McLennan Cos. Inc. | 3.500% | 3/10/25 | 16,661 | 16,181 | ||
Marsh & McLennan Cos. Inc. | 3.750% | 3/14/26 | 7,233 | 6,988 | ||
Mastercard Inc. | 2.000% | 3/3/25 | 21,356 | 20,399 | ||
Mastercard Inc. | 2.950% | 11/21/26 | 13,826 | 13,037 | ||
Mastercard Inc. | 3.300% | 3/26/27 | 13,581 | 12,919 | ||
Mastercard Inc. | 4.875% | 3/9/28 | 24,725 | 24,805 | ||
Mercury General Corp. | 4.400% | 3/15/27 | 8,425 | 7,906 | ||
MetLife Inc. | 3.000% | 3/1/25 | 14,584 | 14,069 | ||
MetLife Inc. | 3.600% | 11/13/25 | 10,697 | 10,346 | ||
Mitsubishi UFJ Financial Group Inc. | 2.193% | 2/25/25 | 63,424 | 60,189 | ||
Mitsubishi UFJ Financial Group Inc. | 3.777% | 3/2/25 | 7,615 | 7,393 | ||
Mitsubishi UFJ Financial Group Inc. | 1.412% | 7/17/25 | 27,590 | 25,480 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Mitsubishi UFJ Financial Group Inc. | 5.063% | 9/12/25 | 17,578 | 17,412 | ||
Mitsubishi UFJ Financial Group Inc. | 0.962% | 10/11/25 | 4,738 | 4,470 | ||
Mitsubishi UFJ Financial Group Inc. | 5.719% | 2/20/26 | 14,467 | 14,433 | ||
Mitsubishi UFJ Financial Group Inc. | 3.850% | 3/1/26 | 27,020 | 25,940 | ||
Mitsubishi UFJ Financial Group Inc. | 3.837% | 4/17/26 | 1,746 | 1,689 | ||
Mitsubishi UFJ Financial Group Inc. | 5.541% | 4/17/26 | 6,696 | 6,663 | ||
Mitsubishi UFJ Financial Group Inc. | 2.757% | 9/13/26 | 5,839 | 5,384 | ||
Mitsubishi UFJ Financial Group Inc. | 3.677% | 2/22/27 | 19,972 | 19,009 | ||
Mitsubishi UFJ Financial Group Inc. | 1.538% | 7/20/27 | 71,150 | 63,373 | ||
Mitsubishi UFJ Financial Group Inc. | 3.287% | 7/25/27 | 18,031 | 16,755 | ||
Mitsubishi UFJ Financial Group Inc. | 1.640% | 10/13/27 | 16,832 | 14,919 | ||
Mitsubishi UFJ Financial Group Inc. | 2.341% | 1/19/28 | 39,996 | 35,880 | ||
Mitsubishi UFJ Financial Group Inc. | 3.961% | 3/2/28 | 6,981 | 6,646 | ||
Mitsubishi UFJ Financial Group Inc. | 4.080% | 4/19/28 | 4,656 | 4,423 | ||
Mitsubishi UFJ Financial Group Inc. | 5.017% | 7/20/28 | 32,508 | 31,832 | ||
Mitsubishi UFJ Financial Group Inc. | 5.354% | 9/13/28 | 26,170 | 25,935 | ||
Mitsubishi UFJ Financial Group Inc. | 5.422% | 2/22/29 | 29,989 | 29,843 | ||
Mitsubishi UFJ Financial Group Inc. | 5.242% | 4/19/29 | 18,805 | 18,553 | ||
2 | Mizuho Financial Group Inc. | 2.555% | 9/13/25 | 6,749 | 6,499 | |
Mizuho Financial Group Inc. | 2.651% | 5/22/26 | 3,446 | 3,247 | ||
2 | Mizuho Financial Group Inc. | 2.226% | 5/25/26 | 18,834 | 17,612 | |
Mizuho Financial Group Inc. | 2.839% | 9/13/26 | 14,078 | 12,954 | ||
Mizuho Financial Group Inc. | 3.663% | 2/28/27 | 7,658 | 7,213 | ||
Mizuho Financial Group Inc. | 1.234% | 5/22/27 | 25,627 | 22,673 | ||
Mizuho Financial Group Inc. | 1.554% | 7/9/27 | 7,197 | 6,390 | ||
Mizuho Financial Group Inc. | 4.018% | 3/5/28 | 25,025 | 23,593 | ||
Mizuho Financial Group Inc. | 5.414% | 9/13/28 | 31,426 | 31,122 | ||
Mizuho Financial Group Inc. | 5.667% | 5/27/29 | 13,458 | 13,424 | ||
Mizuho Financial Group Inc. | 5.778% | 7/6/29 | 25,640 | 25,670 | ||
2 | Morgan Stanley | 3.700% | 10/23/24 | 43,372 | 42,440 | |
2 | Morgan Stanley | 4.000% | 7/23/25 | 64,791 | 62,869 | |
2 | Morgan Stanley | 0.864% | 10/21/25 | 15,523 | 14,607 | |
2 | Morgan Stanley | 1.164% | 10/21/25 | 24,834 | 23,421 | |
Morgan Stanley | 5.000% | 11/24/25 | 26,056 | 25,651 | ||
2 | Morgan Stanley | 3.875% | 1/27/26 | 74,755 | 71,940 | |
2 | Morgan Stanley | 2.630% | 2/18/26 | 18,924 | 18,029 | |
2 | Morgan Stanley | 2.188% | 4/28/26 | 45,419 | 42,823 | |
Morgan Stanley | 4.679% | 7/17/26 | 30,230 | 29,594 | ||
2 | Morgan Stanley | 3.125% | 7/27/26 | 65,316 | 61,140 | |
2 | Morgan Stanley | 6.250% | 8/9/26 | 6,300 | 6,435 | |
2 | Morgan Stanley | 4.350% | 9/8/26 | 50,097 | 48,242 | |
Morgan Stanley | 6.138% | 10/16/26 | 6,936 | 6,983 | ||
Morgan Stanley | 0.985% | 12/10/26 | 24,095 | 21,605 | ||
Morgan Stanley | 3.625% | 1/20/27 | 66,098 | 62,439 | ||
Morgan Stanley | 5.050% | 1/28/27 | 25,505 | 25,237 | ||
Morgan Stanley | 3.950% | 4/23/27 | 31,114 | 29,327 | ||
Morgan Stanley | 1.593% | 5/4/27 | 90,250 | 80,907 | ||
2 | Morgan Stanley | 1.512% | 7/20/27 | 76,398 | 67,820 | |
Morgan Stanley | 2.475% | 1/21/28 | 36,714 | 33,118 | ||
Morgan Stanley | 4.210% | 4/20/28 | 30,420 | 29,054 | ||
2 | Morgan Stanley | 3.591% | 7/22/28 | 42,165 | 38,993 | |
Morgan Stanley | 6.296% | 10/18/28 | 39,911 | 40,893 | ||
2 | Morgan Stanley | 3.772% | 1/24/29 | 36,082 | 33,453 | |
Morgan Stanley | 5.123% | 2/1/29 | 64,095 | 62,791 | ||
2 | Morgan Stanley | 5.164% | 4/20/29 | 55,680 | 54,617 | |
Morgan Stanley | 5.449% | 7/20/29 | 38,825 | 38,593 | ||
Morgan Stanley Bank NA | 5.479% | 7/16/25 | 20,555 | 20,597 | ||
2 | Morgan Stanley Bank NA | 4.754% | 4/21/26 | 16,260 | 16,060 | |
Morgan Stanley Direct Lending Fund | 4.500% | 2/11/27 | 3,372 | 3,149 | ||
Nasdaq Inc. | 5.650% | 6/28/25 | 8,878 | 8,889 | ||
Nasdaq Inc. | 3.850% | 6/30/26 | 12,330 | 11,865 | ||
Nasdaq Inc. | 5.350% | 6/28/28 | 22,680 | 22,675 | ||
National Australia Bank Ltd. | 5.132% | 11/22/24 | 27,336 | 27,220 | ||
National Australia Bank Ltd. | 5.200% | 5/13/25 | 21,238 | 21,199 | ||
National Australia Bank Ltd. | 4.966% | 1/12/26 | 23,955 | 23,802 | ||
National Australia Bank Ltd. | 3.375% | 1/14/26 | 19,547 | 18,738 | ||
2 | National Australia Bank Ltd. | 2.500% | 7/12/26 | 22,918 | 21,294 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
National Australia Bank Ltd. | 3.905% | 6/9/27 | 14,526 | 13,888 | ||
National Australia Bank Ltd. | 4.944% | 1/12/28 | 23,095 | 22,921 | ||
National Australia Bank Ltd. | 4.900% | 6/13/28 | 21,065 | 20,812 | ||
National Bank of Canada | 5.250% | 1/17/25 | 19,677 | 19,590 | ||
NatWest Group plc | 4.800% | 4/5/26 | 32,036 | 31,199 | ||
NatWest Group plc | 7.472% | 11/10/26 | 36,138 | 37,206 | ||
NatWest Group plc | 5.847% | 3/2/27 | 17,571 | 17,469 | ||
NatWest Group plc | 1.642% | 6/14/27 | 28,468 | 25,285 | ||
2 | NatWest Group plc | 3.073% | 5/22/28 | 13,617 | 12,281 | |
NatWest Group plc | 5.516% | 9/30/28 | 21,467 | 21,081 | ||
2 | NatWest Group plc | 4.892% | 5/18/29 | 33,033 | 31,469 | |
2 | NatWest Group plc | 3.754% | 11/1/29 | 14,392 | 13,708 | |
Nomura Holdings Inc. | 2.648% | 1/16/25 | 23,578 | 22,530 | ||
Nomura Holdings Inc. | 5.099% | 7/3/25 | 15,382 | 15,119 | ||
Nomura Holdings Inc. | 1.851% | 7/16/25 | 35,812 | 33,101 | ||
Nomura Holdings Inc. | 5.709% | 1/9/26 | 1,655 | 1,643 | ||
Nomura Holdings Inc. | 1.653% | 7/14/26 | 16,928 | 15,010 | ||
Nomura Holdings Inc. | 2.329% | 1/22/27 | 36,165 | 32,051 | ||
Nomura Holdings Inc. | 5.386% | 7/6/27 | 2,495 | 2,446 | ||
Nomura Holdings Inc. | 6.070% | 7/12/28 | 23,080 | 23,186 | ||
Nomura Holdings Inc. | 2.172% | 7/14/28 | 17,528 | 14,739 | ||
Northern Trust Corp. | 3.950% | 10/30/25 | 5,948 | 5,756 | ||
Northern Trust Corp. | 4.000% | 5/10/27 | 22,110 | 21,220 | ||
Northern Trust Corp. | 3.650% | 8/3/28 | 8,496 | 8,006 | ||
2 | Northern Trust Corp. | 3.375% | 5/8/32 | 5,337 | 4,761 | |
Oaktree Specialty Lending Corp. | 3.500% | 2/25/25 | 10,081 | 9,597 | ||
Oaktree Specialty Lending Corp. | 2.700% | 1/15/27 | 5,194 | 4,515 | ||
Old Republic International Corp. | 4.875% | 10/1/24 | 7,163 | 7,064 | ||
Old Republic International Corp. | 3.875% | 8/26/26 | 10,725 | 10,193 | ||
ORIX Corp. | 3.250% | 12/4/24 | 12,180 | 11,771 | ||
ORIX Corp. | 3.700% | 7/18/27 | 1,410 | 1,332 | ||
ORIX Corp. | 5.000% | 9/13/27 | 12,240 | 12,101 | ||
PayPal Holdings Inc. | 2.400% | 10/1/24 | 25,890 | 25,038 | ||
PayPal Holdings Inc. | 1.650% | 6/1/25 | 22,742 | 21,306 | ||
PayPal Holdings Inc. | 2.650% | 10/1/26 | 40,229 | 37,474 | ||
2 | PNC Bank NA | 3.300% | 10/30/24 | 19,492 | 18,938 | |
2 | PNC Bank NA | 2.950% | 2/23/25 | 11,745 | 11,273 | |
2 | PNC Bank NA | 3.875% | 4/10/25 | 16,225 | 15,688 | |
2 | PNC Bank NA | 3.250% | 6/1/25 | 7,014 | 6,707 | |
2 | PNC Bank NA | 4.200% | 11/1/25 | 14,416 | 13,885 | |
2 | PNC Bank NA | 3.100% | 10/25/27 | 14,324 | 13,071 | |
2 | PNC Bank NA | 3.250% | 1/22/28 | 6,584 | 6,024 | |
2 | PNC Bank NA | 4.050% | 7/26/28 | 18,379 | 16,974 | |
PNC Financial Services Group Inc. | 2.200% | 11/1/24 | 19,954 | 19,149 | ||
PNC Financial Services Group Inc. | 5.671% | 10/28/25 | 21,358 | 21,266 | ||
PNC Financial Services Group Inc. | 5.812% | 6/12/26 | 18,550 | 18,531 | ||
PNC Financial Services Group Inc. | 2.600% | 7/23/26 | 24,424 | 22,691 | ||
PNC Financial Services Group Inc. | 1.150% | 8/13/26 | 12,821 | 11,375 | ||
PNC Financial Services Group Inc. | 4.758% | 1/26/27 | 8,422 | 8,264 | ||
PNC Financial Services Group Inc. | 3.150% | 5/19/27 | 7,158 | 6,627 | ||
PNC Financial Services Group Inc. | 5.354% | 12/2/28 | 16,405 | 16,138 | ||
PNC Financial Services Group Inc. | 5.582% | 6/12/29 | 49,719 | 49,301 | ||
Principal Financial Group Inc. | 3.400% | 5/15/25 | 6,485 | 6,245 | ||
Principal Financial Group Inc. | 3.100% | 11/15/26 | 4,507 | 4,192 | ||
Progressive Corp. | 2.450% | 1/15/27 | 23,336 | 21,509 | ||
Progressive Corp. | 2.500% | 3/15/27 | 14,637 | 13,463 | ||
Prospect Capital Corp. | 3.706% | 1/22/26 | 6,949 | 6,301 | ||
Prospect Capital Corp. | 3.364% | 11/15/26 | 5,253 | 4,546 | ||
2 | Prudential Financial Inc. | 1.500% | 3/10/26 | 5,378 | 4,921 | |
2 | Prudential Financial Inc. | 5.375% | 5/15/45 | 7,530 | 7,365 | |
2 | Prudential Financial Inc. | 4.500% | 9/15/47 | 19,646 | 17,651 | |
Regions Financial Corp. | 2.250% | 5/18/25 | 7,962 | 7,442 | ||
Regions Financial Corp. | 1.800% | 8/12/28 | 12,869 | 10,669 | ||
Reinsurance Group of America Inc. | 3.950% | 9/15/26 | 4,566 | 4,348 | ||
RenaissanceRe Finance Inc. | 3.700% | 4/1/25 | 3,895 | 3,772 | ||
RenaissanceRe Finance Inc. | 3.450% | 7/1/27 | 6,258 | 5,829 | ||
2 | Royal Bank of Canada | 0.750% | 10/7/24 | 17,456 | 16,545 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | Royal Bank of Canada | 5.660% | 10/25/24 | 23,082 | 23,078 | |
2 | Royal Bank of Canada | 2.250% | 11/1/24 | 31,644 | 30,423 | |
2 | Royal Bank of Canada | 1.600% | 1/21/25 | 11,385 | 10,792 | |
Royal Bank of Canada | 3.375% | 4/14/25 | 19,067 | 18,445 | ||
2 | Royal Bank of Canada | 4.950% | 4/25/25 | 24,050 | 23,782 | |
2 | Royal Bank of Canada | 1.150% | 6/10/25 | 45,022 | 41,682 | |
2 | Royal Bank of Canada | 0.875% | 1/20/26 | 29,595 | 26,634 | |
2 | Royal Bank of Canada | 4.650% | 1/27/26 | 38,886 | 38,173 | |
Royal Bank of Canada | 1.200% | 4/27/26 | 42,090 | 37,728 | ||
2 | Royal Bank of Canada | 1.150% | 7/14/26 | 15,767 | 14,019 | |
2 | Royal Bank of Canada | 1.400% | 11/2/26 | 16,907 | 14,975 | |
2 | Royal Bank of Canada | 2.050% | 1/21/27 | 9,133 | 8,222 | |
Royal Bank of Canada | 3.625% | 5/4/27 | 11,029 | 10,397 | ||
2 | Royal Bank of Canada | 4.240% | 8/3/27 | 25,584 | 24,604 | |
2 | Royal Bank of Canada | 6.000% | 11/1/27 | 16,618 | 17,006 | |
2 | Royal Bank of Canada | 4.900% | 1/12/28 | 20,881 | 20,573 | |
2 | Royal Bank of Canada | 5.200% | 8/1/28 | 17,648 | 17,540 | |
Santander Holdings USA Inc. | 3.450% | 6/2/25 | 15,991 | 15,251 | ||
Santander Holdings USA Inc. | 4.500% | 7/17/25 | 12,208 | 11,910 | ||
Santander Holdings USA Inc. | 5.807% | 9/9/26 | 13,380 | 13,230 | ||
Santander Holdings USA Inc. | 3.244% | 10/5/26 | 36,997 | 33,884 | ||
Santander Holdings USA Inc. | 4.400% | 7/13/27 | 27,699 | 26,226 | ||
Santander Holdings USA Inc. | 2.490% | 1/6/28 | 18,062 | 15,830 | ||
Santander Holdings USA Inc. | 6.499% | 3/9/29 | 13,410 | 13,350 | ||
2 | Santander UK Group Holdings plc | 1.532% | 8/21/26 | 8,446 | 7,658 | |
Santander UK Group Holdings plc | 6.833% | 11/21/26 | 18,054 | 18,276 | ||
Santander UK Group Holdings plc | 1.673% | 6/14/27 | 21,029 | 18,500 | ||
Santander UK Group Holdings plc | 2.469% | 1/11/28 | 33,531 | 29,500 | ||
2 | Santander UK Group Holdings plc | 3.823% | 11/3/28 | 13,403 | 12,091 | |
Santander UK Group Holdings plc | 6.534% | 1/10/29 | 23,828 | 24,012 | ||
Sixth Street Specialty Lending Inc. | 3.875% | 11/1/24 | 2,416 | 2,342 | ||
Sixth Street Specialty Lending Inc. | 2.500% | 8/1/26 | 6,482 | 5,733 | ||
Sixth Street Specialty Lending Inc. | 6.950% | 8/14/28 | 3,378 | 3,367 | ||
3 | Standard Chartered plc | 2.819% | 1/30/26 | 1,350 | 1,285 | |
State Street Corp. | 3.300% | 12/16/24 | 11,566 | 11,228 | ||
State Street Corp. | 3.550% | 8/18/25 | 32,536 | 31,405 | ||
2 | State Street Corp. | 2.354% | 11/1/25 | 25,630 | 24,607 | |
State Street Corp. | 4.857% | 1/26/26 | 15,358 | 15,159 | ||
State Street Corp. | 2.901% | 3/30/26 | 15,246 | 14,592 | ||
State Street Corp. | 5.104% | 5/18/26 | 17,945 | 17,786 | ||
State Street Corp. | 2.650% | 5/19/26 | 15,959 | 15,010 | ||
State Street Corp. | 5.272% | 8/3/26 | 8,050 | 8,052 | ||
State Street Corp. | 5.751% | 11/4/26 | 10,385 | 10,398 | ||
State Street Corp. | 2.203% | 2/7/28 | 13,945 | 12,658 | ||
State Street Corp. | 5.820% | 11/4/28 | 9,590 | 9,736 | ||
2 | Sumitomo Mitsui Banking Corp. | 3.650% | 7/23/25 | 2,519 | 2,423 | |
Sumitomo Mitsui Financial Group Inc. | 2.448% | 9/27/24 | 18,670 | 18,020 | ||
Sumitomo Mitsui Financial Group Inc. | 2.348% | 1/15/25 | 26,687 | 25,481 | ||
Sumitomo Mitsui Financial Group Inc. | 1.474% | 7/8/25 | 63,828 | 59,123 | ||
Sumitomo Mitsui Financial Group Inc. | 0.948% | 1/12/26 | 15,283 | 13,727 | ||
Sumitomo Mitsui Financial Group Inc. | 3.784% | 3/9/26 | 8,537 | 8,175 | ||
Sumitomo Mitsui Financial Group Inc. | 5.880% | 7/13/26 | 6,050 | 6,096 | ||
Sumitomo Mitsui Financial Group Inc. | 2.632% | 7/14/26 | 23,183 | 21,390 | ||
Sumitomo Mitsui Financial Group Inc. | 1.402% | 9/17/26 | 60,163 | 53,251 | ||
Sumitomo Mitsui Financial Group Inc. | 3.010% | 10/19/26 | 35,430 | 32,836 | ||
Sumitomo Mitsui Financial Group Inc. | 3.446% | 1/11/27 | 37,289 | 34,902 | ||
Sumitomo Mitsui Financial Group Inc. | 2.174% | 1/14/27 | 8,451 | 7,581 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Sumitomo Mitsui Financial Group Inc. | 3.364% | 7/12/27 | 15,632 | 14,498 | ||
Sumitomo Mitsui Financial Group Inc. | 5.520% | 1/13/28 | 51,078 | 51,000 | ||
Sumitomo Mitsui Financial Group Inc. | 5.800% | 7/13/28 | 23,545 | 23,833 | ||
Sumitomo Mitsui Financial Group Inc. | 3.944% | 7/19/28 | 6,725 | 6,286 | ||
Sumitomo Mitsui Financial Group Inc. | 1.902% | 9/17/28 | 19,425 | 16,322 | ||
2 | Synchrony Bank | 5.400% | 8/22/25 | 15,019 | 14,515 | |
Synchrony Bank | 5.625% | 8/23/27 | 15,570 | 14,746 | ||
Synchrony Financial | 4.500% | 7/23/25 | 27,350 | 26,089 | ||
Synchrony Financial | 3.700% | 8/4/26 | 17,258 | 15,720 | ||
Synchrony Financial | 3.950% | 12/1/27 | 11,172 | 9,972 | ||
Synovus Bank | 5.625% | 2/15/28 | 6,514 | 6,023 | ||
2 | Toronto-Dominion Bank | 4.285% | 9/13/24 | 26,378 | 25,985 | |
Toronto-Dominion Bank | 1.250% | 12/13/24 | 8,676 | 8,206 | ||
2 | Toronto-Dominion Bank | 1.450% | 1/10/25 | 19,615 | 18,587 | |
Toronto-Dominion Bank | 3.766% | 6/6/25 | 42,357 | 41,117 | ||
2 | Toronto-Dominion Bank | 1.150% | 6/12/25 | 32,872 | 30,485 | |
2 | Toronto-Dominion Bank | 0.750% | 9/11/25 | 6,614 | 6,031 | |
2 | Toronto-Dominion Bank | 0.750% | 1/6/26 | 9,043 | 8,120 | |
2 | Toronto-Dominion Bank | 1.200% | 6/3/26 | 25,006 | 22,298 | |
2 | Toronto-Dominion Bank | 5.532% | 7/17/26 | 10,025 | 10,045 | |
2 | Toronto-Dominion Bank | 1.250% | 9/10/26 | 36,263 | 32,138 | |
2 | Toronto-Dominion Bank | 1.950% | 1/12/27 | 16,010 | 14,380 | |
2 | Toronto-Dominion Bank | 2.800% | 3/10/27 | 7,408 | 6,794 | |
Toronto-Dominion Bank | 4.108% | 6/8/27 | 14,739 | 14,070 | ||
2 | Toronto-Dominion Bank | 4.693% | 9/15/27 | 49,425 | 48,165 | |
Toronto-Dominion Bank | 5.156% | 1/10/28 | 17,908 | 17,739 | ||
2 | Toronto-Dominion Bank | 5.523% | 7/17/28 | 20,370 | 20,453 | |
2 | Toronto-Dominion Bank | 3.625% | 9/15/31 | 34,630 | 32,321 | |
Trinity Acquisition plc | 4.400% | 3/15/26 | 7,584 | 7,328 | ||
2 | Truist Bank | 2.150% | 12/6/24 | 44,894 | 42,861 | |
2 | Truist Bank | 1.500% | 3/10/25 | 26,580 | 24,793 | |
2 | Truist Bank | 3.625% | 9/16/25 | 26,000 | 24,641 | |
2 | Truist Bank | 4.050% | 11/3/25 | 5,259 | 5,052 | |
2 | Truist Bank | 3.300% | 5/15/26 | 7,877 | 7,313 | |
2 | Truist Bank | 3.800% | 10/30/26 | 13,777 | 12,720 | |
2 | Truist Bank | 2.636% | 9/17/29 | 3,731 | 3,470 | |
2 | Truist Financial Corp. | 2.850% | 10/26/24 | 16,491 | 15,912 | |
Truist Financial Corp. | 4.000% | 5/1/25 | 26,462 | 25,643 | ||
2 | Truist Financial Corp. | 3.700% | 6/5/25 | 22,828 | 21,999 | |
2 | Truist Financial Corp. | 1.200% | 8/5/25 | 6,822 | 6,258 | |
2 | Truist Financial Corp. | 4.260% | 7/28/26 | 14,066 | 13,585 | |
2 | Truist Financial Corp. | 5.900% | 10/28/26 | 26,197 | 26,117 | |
2 | Truist Financial Corp. | 1.267% | 3/2/27 | 5,679 | 5,066 | |
2 | Truist Financial Corp. | 6.047% | 6/8/27 | 27,730 | 27,713 | |
2 | Truist Financial Corp. | 1.125% | 8/3/27 | 4,291 | 3,628 | |
2 | Truist Financial Corp. | 4.123% | 6/6/28 | 16,935 | 15,973 | |
2 | Truist Financial Corp. | 4.873% | 1/26/29 | 28,335 | 27,166 | |
2 | Truist Financial Corp. | 1.887% | 6/7/29 | 17,240 | 14,391 | |
UBS Group AG | 3.750% | 3/26/25 | 44,812 | 43,274 | ||
UBS Group AG | 4.550% | 4/17/26 | 36,054 | 34,891 | ||
2 | US Bancorp | 3.600% | 9/11/24 | 11,009 | 10,772 | |
US Bancorp | 1.450% | 5/12/25 | 18,072 | 16,906 | ||
2 | US Bancorp | 3.950% | 11/17/25 | 11,237 | 10,879 | |
2 | US Bancorp | 3.100% | 4/27/26 | 23,951 | 22,473 | |
2 | US Bancorp | 2.375% | 7/22/26 | 18,016 | 16,599 | |
US Bancorp | 5.727% | 10/21/26 | 16,324 | 16,313 | ||
2 | US Bancorp | 3.150% | 4/27/27 | 19,740 | 18,286 | |
2 | US Bancorp | 2.215% | 1/27/28 | 8,954 | 7,988 | |
2 | US Bancorp | 3.900% | 4/26/28 | 17,641 | 16,560 | |
2 | US Bancorp | 4.548% | 7/22/28 | 38,598 | 36,858 | |
US Bancorp | 4.653% | 2/1/29 | 33,845 | 32,296 | ||
US Bancorp | 5.775% | 6/12/29 | 30,745 | 30,671 | ||
2 | US Bank NA | 2.050% | 1/21/25 | 15,278 | 14,532 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | US Bank NA | 2.800% | 1/27/25 | 36,774 | 35,308 | |
Visa Inc. | 3.150% | 12/14/25 | 96,354 | 92,421 | ||
Visa Inc. | 1.900% | 4/15/27 | 32,142 | 29,131 | ||
Visa Inc. | 0.750% | 8/15/27 | 4,853 | 4,196 | ||
Visa Inc. | 2.750% | 9/15/27 | 4,768 | 4,421 | ||
Voya Financial Inc. | 3.650% | 6/15/26 | 14,883 | 14,056 | ||
2 | Voya Financial Inc. | 4.700% | 1/23/48 | 7,000 | 5,652 | |
Wachovia Corp. | 7.574% | 8/1/26 | 948 | 991 | ||
2 | Wells Fargo & Co. | 3.300% | 9/9/24 | 35,441 | 34,592 | |
2 | Wells Fargo & Co. | 3.000% | 2/19/25 | 82,538 | 79,445 | |
2 | Wells Fargo & Co. | 3.550% | 9/29/25 | 59,199 | 56,795 | |
2 | Wells Fargo & Co. | 2.406% | 10/30/25 | 41,430 | 39,746 | |
2 | Wells Fargo & Co. | 2.164% | 2/11/26 | 59,204 | 55,985 | |
Wells Fargo & Co. | 3.000% | 4/22/26 | 46,032 | 43,116 | ||
2 | Wells Fargo & Co. | 3.908% | 4/25/26 | 56,177 | 54,332 | |
2 | Wells Fargo & Co. | 2.188% | 4/30/26 | 36,627 | 34,449 | |
2 | Wells Fargo & Co. | 4.100% | 6/3/26 | 30,622 | 29,363 | |
2 | Wells Fargo & Co. | 4.540% | 8/15/26 | 39,587 | 38,651 | |
Wells Fargo & Co. | 3.000% | 10/23/26 | 80,826 | 74,845 | ||
2 | Wells Fargo & Co. | 3.196% | 6/17/27 | 36,108 | 33,752 | |
2 | Wells Fargo & Co. | 4.300% | 7/22/27 | 52,265 | 50,047 | |
2 | Wells Fargo & Co. | 3.526% | 3/24/28 | 82,592 | 76,868 | |
2 | Wells Fargo & Co. | 3.584% | 5/22/28 | 57,998 | 53,834 | |
2 | Wells Fargo & Co. | 2.393% | 6/2/28 | 50,643 | 45,040 | |
2 | Wells Fargo & Co. | 4.808% | 7/25/28 | 47,352 | 45,943 | |
2 | Wells Fargo & Co. | 5.574% | 7/25/29 | 74,732 | 74,399 | |
2 | Wells Fargo Bank NA | 5.550% | 8/1/25 | 21,740 | 21,783 | |
2 | Wells Fargo Bank NA | 5.450% | 8/7/26 | 37,085 | 37,212 | |
Western Union Co. | 2.850% | 1/10/25 | 17,769 | 17,026 | ||
Western Union Co. | 1.350% | 3/15/26 | 2,622 | 2,345 | ||
Westpac Banking Corp. | 5.350% | 10/18/24 | 13,713 | 13,690 | ||
Westpac Banking Corp. | 1.019% | 11/18/24 | 14,168 | 13,431 | ||
Westpac Banking Corp. | 2.350% | 2/19/25 | 33,473 | 32,112 | ||
Westpac Banking Corp. | 2.850% | 5/13/26 | 33,806 | 31,857 | ||
Westpac Banking Corp. | 1.150% | 6/3/26 | 19,574 | 17,592 | ||
Westpac Banking Corp. | 2.700% | 8/19/26 | 24,551 | 22,907 | ||
Westpac Banking Corp. | 3.350% | 3/8/27 | 19,682 | 18,581 | ||
Westpac Banking Corp. | 5.457% | 11/18/27 | 33,004 | 33,488 | ||
Westpac Banking Corp. | 1.953% | 11/20/28 | 4,400 | 3,778 | ||
2 | Westpac Banking Corp. | 2.894% | 2/4/30 | 25,219 | 23,819 | |
2 | Westpac Banking Corp. | 4.322% | 11/23/31 | 36,919 | 34,463 | |
Willis North America Inc. | 4.650% | 6/15/27 | 22,095 | 21,404 | ||
Willis North America Inc. | 4.500% | 9/15/28 | 709 | 675 | ||
18,426,295 | ||||||
Health Care (8.2%) | ||||||
Abbott Laboratories | 2.950% | 3/15/25 | 10,653 | 10,312 | ||
Abbott Laboratories | 3.875% | 9/15/25 | 4,378 | 4,274 | ||
4 | Abbott Laboratories | 3.750% | 11/30/26 | 46,292 | 44,860 | |
Abbott Laboratories | 1.150% | 1/30/28 | 10,540 | 9,091 | ||
AbbVie Inc. | 2.600% | 11/21/24 | 68,572 | 66,186 | ||
AbbVie Inc. | 3.800% | 3/15/25 | 52,677 | 51,291 | ||
AbbVie Inc. | 3.600% | 5/14/25 | 69,727 | 67,616 | ||
AbbVie Inc. | 3.200% | 5/14/26 | 41,303 | 39,268 | ||
AbbVie Inc. | 2.950% | 11/21/26 | 68,724 | 64,302 | ||
Advocate Health & Hospitals Corp. | 3.829% | 8/15/28 | 6,174 | 5,865 | ||
Aetna Inc. | 3.500% | 11/15/24 | 3,871 | 3,770 | ||
Agilent Technologies Inc. | 3.050% | 9/22/26 | 7,325 | 6,846 | ||
Amgen Inc. | 3.625% | 5/22/24 | 32,512 | 32,021 | ||
Amgen Inc. | 1.900% | 2/21/25 | 5,560 | 5,287 | ||
Amgen Inc. | 5.250% | 3/2/25 | 47,276 | 47,076 | ||
Amgen Inc. | 3.125% | 5/1/25 | 6,110 | 5,876 | ||
Amgen Inc. | 5.507% | 3/2/26 | 15,175 | 15,171 | ||
Amgen Inc. | 2.600% | 8/19/26 | 26,518 | 24,655 | ||
Amgen Inc. | 2.200% | 2/21/27 | 30,815 | 27,998 | ||
Amgen Inc. | 5.150% | 3/2/28 | 82,495 | 82,395 | ||
Amgen Inc. | 1.650% | 8/15/28 | 21,600 | 18,425 | ||
AstraZeneca Finance LLC | 1.200% | 5/28/26 | 21,451 | 19,361 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
AstraZeneca Finance LLC | 4.875% | 3/3/28 | 34,148 | 34,020 | ||
AstraZeneca Finance LLC | 1.750% | 5/28/28 | 19,824 | 17,191 | ||
AstraZeneca plc | 3.375% | 11/16/25 | 45,411 | 43,627 | ||
AstraZeneca plc | 0.700% | 4/8/26 | 9,821 | 8,795 | ||
AstraZeneca plc | 3.125% | 6/12/27 | 13,102 | 12,274 | ||
Baxalta Inc. | 4.000% | 6/23/25 | 15,514 | 15,086 | ||
Baxter International Inc. | 1.322% | 11/29/24 | 16,234 | 15,378 | ||
Baxter International Inc. | 2.600% | 8/15/26 | 14,350 | 13,250 | ||
Baxter International Inc. | 1.915% | 2/1/27 | 35,348 | 31,443 | ||
Becton Dickinson & Co. | 3.363% | 6/6/24 | 9,000 | 8,831 | ||
Becton Dickinson & Co. | 3.734% | 12/15/24 | 7,308 | 7,133 | ||
Becton Dickinson & Co. | 3.700% | 6/6/27 | 33,852 | 32,111 | ||
Becton Dickinson & Co. | 4.693% | 2/13/28 | 14,120 | 13,873 | ||
Biogen Inc. | 4.050% | 9/15/25 | 14,764 | 14,320 | ||
Bio-Rad Laboratories Inc. | 3.300% | 3/15/27 | 5,496 | 5,153 | ||
Boston Scientific Corp. | 1.900% | 6/1/25 | 23,431 | 22,046 | ||
Bristol-Myers Squibb Co. | 3.625% | 5/15/24 | 1,775 | 1,751 | ||
Bristol-Myers Squibb Co. | 0.750% | 11/13/25 | 8,497 | 7,742 | ||
Bristol-Myers Squibb Co. | 3.200% | 6/15/26 | 42,957 | 40,934 | ||
Bristol-Myers Squibb Co. | 3.250% | 2/27/27 | 11,907 | 11,379 | ||
Bristol-Myers Squibb Co. | 1.125% | 11/13/27 | 4,987 | 4,328 | ||
Bristol-Myers Squibb Co. | 3.450% | 11/15/27 | 16,200 | 15,413 | ||
Bristol-Myers Squibb Co. | 3.900% | 2/20/28 | 28,219 | 27,079 | ||
Cardinal Health Inc. | 3.500% | 11/15/24 | 2,359 | 2,292 | ||
Cardinal Health Inc. | 3.750% | 9/15/25 | 8,120 | 7,841 | ||
Cardinal Health Inc. | 3.410% | 6/15/27 | 25,700 | 24,066 | ||
Cencora Inc. | 3.250% | 3/1/25 | 12,117 | 11,725 | ||
Cencora Inc. | 3.450% | 12/15/27 | 4,620 | 4,338 | ||
Centene Corp. | 4.250% | 12/15/27 | 51,785 | 48,412 | ||
Centene Corp. | 2.450% | 7/15/28 | 36,300 | 31,052 | ||
2 | CHRISTUS Health | 4.341% | 7/1/28 | 2,298 | 2,205 | |
2 | Cigna Group | 3.500% | 6/15/24 | 13,976 | 13,742 | |
2 | Cigna Group | 3.250% | 4/15/25 | 15,641 | 15,065 | |
Cigna Group | 4.125% | 11/15/25 | 45,711 | 44,506 | ||
2 | Cigna Group | 4.500% | 2/25/26 | 7,976 | 7,814 | |
Cigna Group | 1.250% | 3/15/26 | 6,471 | 5,846 | ||
2 | Cigna Group | 3.400% | 3/1/27 | 41,678 | 39,160 | |
Cigna Group | 4.375% | 10/15/28 | 5,075 | 4,883 | ||
CommonSpirit Health | 2.760% | 10/1/24 | 3,102 | 3,000 | ||
CommonSpirit Health | 1.547% | 10/1/25 | 12,205 | 11,204 | ||
CommonSpirit Health | 6.073% | 11/1/27 | 7,700 | 7,871 | ||
CVS Health Corp. | 4.100% | 3/25/25 | 16,480 | 16,137 | ||
CVS Health Corp. | 3.875% | 7/20/25 | 52,654 | 51,073 | ||
CVS Health Corp. | 5.000% | 2/20/26 | 34,065 | 33,810 | ||
CVS Health Corp. | 2.875% | 6/1/26 | 27,801 | 26,034 | ||
CVS Health Corp. | 3.000% | 8/15/26 | 13,915 | 13,028 | ||
CVS Health Corp. | 3.625% | 4/1/27 | 14,597 | 13,815 | ||
CVS Health Corp. | 1.300% | 8/21/27 | 21,692 | 18,670 | ||
CVS Health Corp. | 4.300% | 3/25/28 | 101,800 | 97,838 | ||
CVS Health Corp. | 3.250% | 8/15/29 | 4,775 | 4,264 | ||
Danaher Corp. | 3.350% | 9/15/25 | 9,851 | 9,508 | ||
DH Europe Finance II Sarl | 2.200% | 11/15/24 | 5,286 | 5,084 | ||
Edwards Lifesciences Corp. | 4.300% | 6/15/28 | 10,575 | 10,182 | ||
Elevance Health Inc. | 3.350% | 12/1/24 | 23,584 | 22,942 | ||
Elevance Health Inc. | 2.375% | 1/15/25 | 31,359 | 29,989 | ||
Elevance Health Inc. | 5.350% | 10/15/25 | 7,567 | 7,553 | ||
Elevance Health Inc. | 4.900% | 2/8/26 | 6,427 | 6,344 | ||
Elevance Health Inc. | 1.500% | 3/15/26 | 21,325 | 19,361 | ||
Elevance Health Inc. | 3.650% | 12/1/27 | 19,658 | 18,527 | ||
Elevance Health Inc. | 4.101% | 3/1/28 | 24,543 | 23,505 | ||
Eli Lilly & Co. | 2.750% | 6/1/25 | 8,393 | 8,063 | ||
Eli Lilly & Co. | 5.500% | 3/15/27 | 7,000 | 7,212 | ||
GE HealthCare Technologies Inc. | 5.550% | 11/15/24 | 24,905 | 24,837 | ||
GE HealthCare Technologies Inc. | 5.600% | 11/15/25 | 23,152 | 23,154 | ||
GE HealthCare Technologies Inc. | 5.650% | 11/15/27 | 38,355 | 38,812 | ||
Gilead Sciences Inc. | 3.500% | 2/1/25 | 35,504 | 34,557 | ||
Gilead Sciences Inc. | 3.650% | 3/1/26 | 40,671 | 39,115 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Gilead Sciences Inc. | 2.950% | 3/1/27 | 31,281 | 29,148 | ||
Gilead Sciences Inc. | 1.200% | 10/1/27 | 6,615 | 5,688 | ||
GlaxoSmithKline Capital Inc. | 3.625% | 5/15/25 | 22,130 | 21,575 | ||
HCA Inc. | 5.375% | 2/1/25 | 37,994 | 37,753 | ||
HCA Inc. | 5.250% | 4/15/25 | 44,314 | 43,936 | ||
HCA Inc. | 5.875% | 2/15/26 | 12,714 | 12,731 | ||
HCA Inc. | 5.250% | 6/15/26 | 11,979 | 11,832 | ||
HCA Inc. | 5.375% | 9/1/26 | 19,217 | 19,073 | ||
HCA Inc. | 4.500% | 2/15/27 | 23,754 | 22,957 | ||
HCA Inc. | 3.125% | 3/15/27 | 44,479 | 40,874 | ||
HCA Inc. | 5.200% | 6/1/28 | 5,730 | 5,644 | ||
HCA Inc. | 5.625% | 9/1/28 | 2,500 | 2,494 | ||
Humana Inc. | 3.850% | 10/1/24 | 6,606 | 6,469 | ||
Humana Inc. | 4.500% | 4/1/25 | 17,982 | 17,717 | ||
Humana Inc. | 1.350% | 2/3/27 | 8,749 | 7,698 | ||
Humana Inc. | 3.950% | 3/15/27 | 5,482 | 5,263 | ||
Humana Inc. | 5.750% | 3/1/28 | 6,428 | 6,545 | ||
Illumina Inc. | 5.800% | 12/12/25 | 8,875 | 8,877 | ||
Illumina Inc. | 5.750% | 12/13/27 | 12,882 | 12,859 | ||
Johnson & Johnson | 2.625% | 1/15/25 | 13,338 | 12,924 | ||
Johnson & Johnson | 0.550% | 9/1/25 | 11,203 | 10,262 | ||
Johnson & Johnson | 2.450% | 3/1/26 | 48,612 | 45,884 | ||
Johnson & Johnson | 2.950% | 3/3/27 | 25,027 | 23,692 | ||
Johnson & Johnson | 2.900% | 1/15/28 | 10,390 | 9,735 | ||
Kaiser Foundation Hospitals | 3.150% | 5/1/27 | 2,572 | 2,428 | ||
Laboratory Corp. of America Holdings | 3.250% | 9/1/24 | 7,900 | 7,695 | ||
Laboratory Corp. of America Holdings | 2.300% | 12/1/24 | 4,924 | 4,708 | ||
Laboratory Corp. of America Holdings | 3.600% | 2/1/25 | 21,451 | 20,805 | ||
Laboratory Corp. of America Holdings | 1.550% | 6/1/26 | 6,440 | 5,795 | ||
McKesson Corp. | 0.900% | 12/3/25 | 15,715 | 14,233 | ||
McKesson Corp. | 5.250% | 2/15/26 | 7,883 | 7,852 | ||
McKesson Corp. | 1.300% | 8/15/26 | 4,411 | 3,951 | ||
McKesson Corp. | 3.950% | 2/16/28 | 5,245 | 5,006 | ||
McKesson Corp. | 4.900% | 7/15/28 | 2,929 | 2,897 | ||
Medtronic Global Holdings SCA | 4.250% | 3/30/28 | 22,242 | 21,627 | ||
Merck & Co. Inc. | 2.750% | 2/10/25 | 37,067 | 35,835 | ||
Merck & Co. Inc. | 0.750% | 2/24/26 | 22,321 | 20,206 | ||
Merck & Co. Inc. | 1.700% | 6/10/27 | 34,158 | 30,622 | ||
Merck & Co. Inc. | 4.050% | 5/17/28 | 8,277 | 8,075 | ||
Mylan Inc. | 4.550% | 4/15/28 | 24,482 | 23,030 | ||
Novartis Capital Corp. | 3.400% | 5/6/24 | 45,070 | 44,390 | ||
Novartis Capital Corp. | 1.750% | 2/14/25 | 8,495 | 8,083 | ||
Novartis Capital Corp. | 3.000% | 11/20/25 | 35,777 | 34,212 | ||
Novartis Capital Corp. | 2.000% | 2/14/27 | 3,769 | 3,439 | ||
Novartis Capital Corp. | 3.100% | 5/17/27 | 19,185 | 18,134 | ||
2 | PeaceHealth Obligated Group | 1.375% | 11/15/25 | 4,130 | 3,763 | |
Pfizer Inc. | 0.800% | 5/28/25 | 12,448 | 11,548 | ||
Pfizer Inc. | 2.750% | 6/3/26 | 12,193 | 11,501 | ||
Pfizer Inc. | 3.000% | 12/15/26 | 33,569 | 31,786 | ||
Pfizer Investment Enterprises Pte. Ltd. | 4.650% | 5/19/25 | 54,438 | 53,903 | ||
Pfizer Investment Enterprises Pte. Ltd. | 4.450% | 5/19/26 | 58,143 | 57,193 | ||
Pfizer Investment Enterprises Pte. Ltd. | 4.450% | 5/19/28 | 74,371 | 72,941 | ||
2 | Providence St. Joseph Health Obligated Group | 2.746% | 10/1/26 | 5,258 | 4,829 | |
Quest Diagnostics Inc. | 3.500% | 3/30/25 | 17,624 | 17,049 | ||
Quest Diagnostics Inc. | 3.450% | 6/1/26 | 14,335 | 13,685 | ||
Revvity Inc. | 0.850% | 9/15/24 | 2,885 | 2,734 | ||
Royalty Pharma plc | 1.200% | 9/2/25 | 25,177 | 22,934 | ||
Royalty Pharma plc | 1.750% | 9/2/27 | 19,272 | 16,627 | ||
Sanofi | 3.625% | 6/19/28 | 17,164 | 16,552 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Shire Acquisitions Investments Ireland DAC | 3.200% | 9/23/26 | 52,073 | 48,873 | ||
2 | SSM Health Care Corp. | 3.823% | 6/1/27 | 10,402 | 9,870 | |
SSM Health Care Corp. | 4.894% | 6/1/28 | 4,925 | 4,868 | ||
Stryker Corp. | 1.150% | 6/15/25 | 7,037 | 6,535 | ||
Stryker Corp. | 3.375% | 11/1/25 | 27,528 | 26,410 | ||
Stryker Corp. | 3.500% | 3/15/26 | 3,650 | 3,501 | ||
Stryker Corp. | 3.650% | 3/7/28 | 11,000 | 10,434 | ||
2 | Sutter Health | 1.321% | 8/15/25 | 2,114 | 1,936 | |
2 | Sutter Health | 3.695% | 8/15/28 | 6,000 | 5,637 | |
Thermo Fisher Scientific Inc. | 1.215% | 10/18/24 | 27,622 | 26,328 | ||
Thermo Fisher Scientific Inc. | 4.800% | 11/21/27 | 20,635 | 20,659 | ||
Thermo Fisher Scientific Inc. | 1.750% | 10/15/28 | 5,250 | 4,520 | ||
UnitedHealth Group Inc. | 5.000% | 10/15/24 | 12,851 | 12,813 | ||
UnitedHealth Group Inc. | 3.750% | 7/15/25 | 40,688 | 39,647 | ||
UnitedHealth Group Inc. | 5.150% | 10/15/25 | 14,390 | 14,383 | ||
UnitedHealth Group Inc. | 3.700% | 12/15/25 | 6,359 | 6,156 | ||
UnitedHealth Group Inc. | 1.250% | 1/15/26 | 8,109 | 7,418 | ||
UnitedHealth Group Inc. | 3.100% | 3/15/26 | 19,473 | 18,601 | ||
UnitedHealth Group Inc. | 1.150% | 5/15/26 | 22,168 | 20,038 | ||
UnitedHealth Group Inc. | 3.450% | 1/15/27 | 28,516 | 27,203 | ||
UnitedHealth Group Inc. | 3.375% | 4/15/27 | 12,675 | 12,013 | ||
UnitedHealth Group Inc. | 3.700% | 5/15/27 | 5,283 | 5,072 | ||
UnitedHealth Group Inc. | 2.950% | 10/15/27 | 6,480 | 6,009 | ||
UnitedHealth Group Inc. | 5.250% | 2/15/28 | 19,670 | 20,052 | ||
UnitedHealth Group Inc. | 3.850% | 6/15/28 | 17,159 | 16,422 | ||
Universal Health Services Inc. | 1.650% | 9/1/26 | 12,329 | 10,950 | ||
2 | UPMC | 3.600% | 4/3/25 | 2,375 | 2,290 | |
Utah Acquisition Sub Inc. | 3.950% | 6/15/26 | 26,945 | 25,454 | ||
Viatris Inc. | 1.650% | 6/22/25 | 12,956 | 11,997 | ||
Viatris Inc. | 2.300% | 6/22/27 | 13,115 | 11,469 | ||
Zimmer Biomet Holdings Inc. | 1.450% | 11/22/24 | 6,342 | 6,019 | ||
Zimmer Biomet Holdings Inc. | 3.550% | 4/1/25 | 8,160 | 7,892 | ||
Zimmer Biomet Holdings Inc. | 3.050% | 1/15/26 | 29,296 | 27,763 | ||
Zoetis Inc. | 4.500% | 11/13/25 | 19,897 | 19,584 | ||
Zoetis Inc. | 5.400% | 11/14/25 | 19,339 | 19,348 | ||
Zoetis Inc. | 3.900% | 8/20/28 | 1,501 | 1,435 | ||
3,544,836 | ||||||
Industrials (6.2%) | ||||||
3M Co. | 2.000% | 2/14/25 | 11,215 | 10,651 | ||
2 | 3M Co. | 3.000% | 8/7/25 | 4,905 | 4,705 | |
2 | 3M Co. | 2.250% | 9/19/26 | 7,900 | 7,271 | |
3M Co. | 2.875% | 10/15/27 | 14,186 | 13,064 | ||
Allegion US Holding Co. Inc. | 3.200% | 10/1/24 | 3,257 | 3,155 | ||
Allegion US Holding Co. Inc. | 3.550% | 10/1/27 | 3,580 | 3,315 | ||
2 | American Airlines Pass-Through Trust Class AA Series 2016-2 | 3.200% | 6/15/28 | 6,622 | 5,993 | |
2 | American Airlines Pass-Through Trust Class AA Series 2016-3 | 3.000% | 10/15/28 | 6,572 | 5,875 | |
Amphenol Corp. | 2.050% | 3/1/25 | 3,929 | 3,736 | ||
2 | BNSF Funding Trust I | 6.613% | 12/15/55 | 7,486 | 7,311 | |
Boeing Co. | 2.850% | 10/30/24 | 6,804 | 6,562 | ||
Boeing Co. | 4.875% | 5/1/25 | 59,697 | 58,861 | ||
Boeing Co. | 2.600% | 10/30/25 | 6,055 | 5,680 | ||
Boeing Co. | 2.750% | 2/1/26 | 34,053 | 31,945 | ||
Boeing Co. | 2.196% | 2/4/26 | 104,504 | 96,420 | ||
Boeing Co. | 3.100% | 5/1/26 | 15,930 | 14,999 | ||
Boeing Co. | 2.250% | 6/15/26 | 5,121 | 4,691 | ||
Boeing Co. | 2.700% | 2/1/27 | 15,096 | 13,802 | ||
Boeing Co. | 2.800% | 3/1/27 | 10,273 | 9,385 | ||
Boeing Co. | 5.040% | 5/1/27 | 43,922 | 43,414 | ||
Boeing Co. | 3.250% | 2/1/28 | 11,643 | 10,671 | ||
Burlington Northern Santa Fe LLC | 3.400% | 9/1/24 | 20,839 | 20,403 | ||
Burlington Northern Santa Fe LLC | 3.000% | 4/1/25 | 8,824 | 8,521 | ||
Burlington Northern Santa Fe LLC | 3.650% | 9/1/25 | 12,327 | 11,982 | ||
Burlington Northern Santa Fe LLC | 7.000% | 12/15/25 | 5,799 | ���6,022 | ||
Burlington Northern Santa Fe LLC | 3.250% | 6/15/27 | 8,908 | 8,448 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Canadian National Railway Co. | 2.950% | 11/21/24 | 5,837 | 5,658 | ||
Canadian National Railway Co. | 2.750% | 3/1/26 | 4,484 | 4,238 | ||
Canadian Pacific Railway Co. | 1.350% | 12/2/24 | 25,489 | 24,155 | ||
Canadian Pacific Railway Co. | 2.900% | 2/1/25 | 15,923 | 15,331 | ||
Canadian Pacific Railway Co. | 1.750% | 12/2/26 | 30,385 | 27,286 | ||
Carrier Global Corp. | 2.242% | 2/15/25 | 15,953 | 15,177 | ||
Carrier Global Corp. | 2.493% | 2/15/27 | 28,431 | 25,865 | ||
2 | Caterpillar Financial Services Corp. | 2.850% | 5/17/24 | 14,903 | 14,611 | |
2 | Caterpillar Financial Services Corp. | 0.600% | 9/13/24 | 13,709 | 13,049 | |
2 | Caterpillar Financial Services Corp. | 2.150% | 11/8/24 | 20,751 | 19,979 | |
2 | Caterpillar Financial Services Corp. | 3.250% | 12/1/24 | 17,717 | 17,264 | |
2 | Caterpillar Financial Services Corp. | 4.900% | 1/17/25 | 10,996 | 10,954 | |
2 | Caterpillar Financial Services Corp. | 1.450% | 5/15/25 | 20,418 | 19,150 | |
Caterpillar Financial Services Corp. | 5.150% | 8/11/25 | 9,615 | 9,616 | ||
2 | Caterpillar Financial Services Corp. | 3.650% | 8/12/25 | 16,787 | 16,298 | |
2 | Caterpillar Financial Services Corp. | 0.800% | 11/13/25 | 11,142 | 10,149 | |
Caterpillar Financial Services Corp. | 0.900% | 3/2/26 | 7,334 | 6,636 | ||
2 | Caterpillar Financial Services Corp. | 4.350% | 5/15/26 | 13,570 | 13,352 | |
Caterpillar Financial Services Corp. | 2.400% | 8/9/26 | 4,110 | 3,826 | ||
2 | Caterpillar Financial Services Corp. | 1.150% | 9/14/26 | 22,982 | 20,550 | |
2 | Caterpillar Financial Services Corp. | 1.700% | 1/8/27 | 9,551 | 8,652 | |
2 | Caterpillar Financial Services Corp. | 3.600% | 8/12/27 | 20,798 | 19,889 | |
Caterpillar Inc. | 3.400% | 5/15/24 | 20,674 | 20,378 | ||
CH Robinson Worldwide Inc. | 4.200% | 4/15/28 | 10,700 | 10,181 | ||
CNH Industrial Capital LLC | 5.450% | 10/14/25 | 3,357 | 3,346 | ||
CNH Industrial Capital LLC | 1.875% | 1/15/26 | 15,631 | 14,354 | ||
CNH Industrial Capital LLC | 1.450% | 7/15/26 | 4,506 | 4,031 | ||
CNH Industrial Capital LLC | 4.550% | 4/10/28 | 24,050 | 23,258 | ||
2 | Continental Airlines Pass-Through Trust Class A Series 2012-2 | 4.000% | 10/29/24 | 4,881 | 4,766 | |
CSX Corp. | 3.350% | 11/1/25 | 9,663 | 9,289 | ||
CSX Corp. | 2.600% | 11/1/26 | 16,053 | 14,871 | ||
CSX Corp. | 3.250% | 6/1/27 | 24,743 | 23,276 | ||
Cummins Inc. | 0.750% | 9/1/25 | 8,755 | 8,016 | ||
Deere & Co. | 2.750% | 4/15/25 | 20,130 | 19,390 | ||
3 | Delta Air Lines Inc. | 4.750% | 10/20/28 | 14,500 | 13,917 | |
Dover Corp. | 3.150% | 11/15/25 | 7,077 | 6,736 | ||
Eaton Corp. | 3.103% | 9/15/27 | 9,980 | 9,357 | ||
Emerson Electric Co. | 3.150% | 6/1/25 | 6,891 | 6,656 | ||
Emerson Electric Co. | 0.875% | 10/15/26 | 15,155 | 13,415 | ||
Emerson Electric Co. | 1.800% | 10/15/27 | 3,176 | 2,817 | ||
FedEx Corp. | 3.250% | 4/1/26 | 7,016 | 6,700 | ||
Fortive Corp. | 3.150% | 6/15/26 | 18,128 | 17,042 | ||
General Dynamics Corp. | 3.250% | 4/1/25 | 10,893 | 10,555 | ||
General Dynamics Corp. | 3.500% | 5/15/25 | 12,938 | 12,564 | ||
General Dynamics Corp. | 2.125% | 8/15/26 | 10,537 | 9,733 | ||
General Dynamics Corp. | 3.500% | 4/1/27 | 20,879 | 19,876 | ||
General Dynamics Corp. | 2.625% | 11/15/27 | 4,855 | 4,432 | ||
General Dynamics Corp. | 3.750% | 5/15/28 | 19,030 | 18,178 | ||
GXO Logistics Inc. | 1.650% | 7/15/26 | 6,021 | 5,330 | ||
HEICO Corp. | 5.250% | 8/1/28 | 4,940 | 4,899 | ||
Hexcel Corp. | 4.200% | 2/15/27 | 7,865 | 7,391 | ||
Honeywell International Inc. | 4.850% | 11/1/24 | 12,295 | 12,233 | ||
Honeywell International Inc. | 1.350% | 6/1/25 | 23,037 | 21,581 | ||
Honeywell International Inc. | 2.500% | 11/1/26 | 31,869 | 29,740 | ||
Honeywell International Inc. | 1.100% | 3/1/27 | 10,852 | 9,603 | ||
Honeywell International Inc. | 4.950% | 2/15/28 | 12,550 | 12,674 | ||
Huntington Ingalls Industries Inc. | 3.483% | 12/1/27 | 5,379 | 4,957 | ||
Illinois Tool Works Inc. | 2.650% | 11/15/26 | 18,897 | 17,698 | ||
Ingersoll Rand Inc. | 5.400% | 8/14/28 | 5,585 | 5,601 | ||
Jacobs Engineering Group Inc. | 6.350% | 8/18/28 | 11,030 | 11,219 | ||
JB Hunt Transport Services Inc. | 3.875% | 3/1/26 | 22,720 | 21,994 | ||
2 | John Deere Capital Corp. | 0.625% | 9/10/24 | 2,497 | 2,377 | |
2 | John Deere Capital Corp. | 2.050% | 1/9/25 | 6,069 | 5,821 | |
2 | John Deere Capital Corp. | 1.250% | 1/10/25 | 8,350 | 7,916 | |
2 | John Deere Capital Corp. | 3.450% | 3/13/25 | 13,115 | 12,777 | |
2 | John Deere Capital Corp. | 3.400% | 6/6/25 | 10,359 | 10,046 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | John Deere Capital Corp. | 4.950% | 6/6/25 | 12,825 | 12,768 | |
2 | John Deere Capital Corp. | 4.050% | 9/8/25 | 18,349 | 17,980 | |
2 | John Deere Capital Corp. | 3.400% | 9/11/25 | 4,395 | 4,246 | |
2 | John Deere Capital Corp. | 0.700% | 1/15/26 | 18,166 | 16,440 | |
2 | John Deere Capital Corp. | 5.050% | 3/3/26 | 5,150 | 5,153 | |
2 | John Deere Capital Corp. | 4.750% | 6/8/26 | 7,280 | 7,240 | |
2 | John Deere Capital Corp. | 2.650% | 6/10/26 | 7,856 | 7,376 | |
2 | John Deere Capital Corp. | 1.050% | 6/17/26 | 4,935 | 4,435 | |
2 | John Deere Capital Corp. | 2.250% | 9/14/26 | 12,100 | 11,202 | |
2 | John Deere Capital Corp. | 1.300% | 10/13/26 | 3,066 | 2,745 | |
2 | John Deere Capital Corp. | 1.700% | 1/11/27 | 6,021 | 5,428 | |
2 | John Deere Capital Corp. | 2.350% | 3/8/27 | 17,550 | 16,100 | |
2 | John Deere Capital Corp. | 1.750% | 3/9/27 | 11,372 | 10,214 | |
2 | John Deere Capital Corp. | 4.150% | 9/15/27 | 45,055 | 43,959 | |
2 | John Deere Capital Corp. | 4.750% | 1/20/28 | 30,415 | 30,294 | |
2 | John Deere Capital Corp. | 4.900% | 3/3/28 | 21,079 | 21,119 | |
2 | John Deere Capital Corp. | 4.950% | 7/14/28 | 32,017 | 32,125 | |
2 | Johnson Controls International plc | 3.900% | 2/14/26 | 10,813 | 10,414 | |
Keysight Technologies Inc. | 4.550% | 10/30/24 | 3,905 | 3,843 | ||
Keysight Technologies Inc. | 4.600% | 4/6/27 | 18,735 | 18,320 | ||
Kirby Corp. | 4.200% | 3/1/28 | 4,865 | 4,569 | ||
L3Harris Technologies Inc. | 3.950% | 5/28/24 | 8,010 | 7,895 | ||
L3Harris Technologies Inc. | 3.832% | 4/27/25 | 12,170 | 11,844 | ||
L3Harris Technologies Inc. | 3.850% | 12/15/26 | 7,205 | 6,880 | ||
L3Harris Technologies Inc. | 5.400% | 1/15/27 | 7,843 | 7,862 | ||
L3Harris Technologies Inc. | 4.400% | 6/15/28 | 14,069 | 13,519 | ||
2 | L3Harris Technologies Inc. | 4.400% | 6/15/28 | 15,011 | 14,432 | |
Lennox International Inc. | 1.350% | 8/1/25 | 2,962 | 2,730 | ||
Lockheed Martin Corp. | 4.950% | 10/15/25 | 10,369 | 10,342 | ||
Lockheed Martin Corp. | 3.550% | 1/15/26 | 19,734 | 19,097 | ||
Lockheed Martin Corp. | 5.100% | 11/15/27 | 19,300 | 19,508 | ||
Lockheed Martin Corp. | 4.450% | 5/15/28 | 20,450 | 20,128 | ||
3 | Mileage Plus Holdings LLC | 6.500% | 6/20/27 | 13,929 | 13,900 | |
Norfolk Southern Corp. | 3.650% | 8/1/25 | 2,280 | 2,205 | ||
Norfolk Southern Corp. | 2.900% | 6/15/26 | 13,344 | 12,576 | ||
Norfolk Southern Corp. | 7.800% | 5/15/27 | 3,412 | 3,724 | ||
Norfolk Southern Corp. | 3.150% | 6/1/27 | 6,845 | 6,391 | ||
Norfolk Southern Corp. | 3.800% | 8/1/28 | 3,742 | 3,540 | ||
Northrop Grumman Corp. | 2.930% | 1/15/25 | 26,806 | 25,907 | ||
Northrop Grumman Corp. | 3.200% | 2/1/27 | 19,813 | 18,706 | ||
Northrop Grumman Corp. | 3.250% | 1/15/28 | 47,348 | 44,092 | ||
Oshkosh Corp. | 4.600% | 5/15/28 | 4,675 | 4,565 | ||
Otis Worldwide Corp. | 2.056% | 4/5/25 | 29,653 | 28,104 | ||
Otis Worldwide Corp. | 2.293% | 4/5/27 | 11,629 | 10,566 | ||
Otis Worldwide Corp. | 5.250% | 8/16/28 | 15,625 | 15,731 | ||
2 | PACCAR Financial Corp. | 0.900% | 11/8/24 | 11,206 | 10,631 | |
2 | PACCAR Financial Corp. | 1.800% | 2/6/25 | 9,910 | 9,432 | |
2 | PACCAR Financial Corp. | 5.050% | 8/10/26 | 5,500 | 5,513 | |
PACCAR Financial Corp. | 4.600% | 1/10/28 | 9,439 | 9,362 | ||
2 | PACCAR Financial Corp. | 4.950% | 8/10/28 | 5,330 | 5,354 | |
2 | Parker-Hannifin Corp. | 3.300% | 11/21/24 | 9,246 | 8,985 | |
Parker-Hannifin Corp. | 3.250% | 3/1/27 | 7,095 | 6,676 | ||
Parker-Hannifin Corp. | 4.250% | 9/15/27 | 36,991 | 35,914 | ||
Parker-Hannifin Corp. | 4.500% | 9/15/29 | 6,828 | 6,600 | ||
Precision Castparts Corp. | 3.250% | 6/15/25 | 25,037 | 24,249 | ||
3 | Regal Rexnord Corp. | 6.050% | 2/15/26 | 19,011 | 18,900 | |
3 | Regal Rexnord Corp. | 6.050% | 4/15/28 | 22,003 | 21,779 | |
Republic Services Inc. | 3.200% | 3/15/25 | 6,950 | 6,717 | ||
Republic Services Inc. | 0.875% | 11/15/25 | 8,575 | 7,771 | ||
Republic Services Inc. | 2.900% | 7/1/26 | 5,340 | 5,017 | ||
Republic Services Inc. | 3.375% | 11/15/27 | 13,411 | 12,476 | ||
Republic Services Inc. | 3.950% | 5/15/28 | 4,346 | 4,128 | ||
Rockwell Automation Inc. | 2.875% | 3/1/25 | 5,777 | 5,577 | ||
RTX Corp. | 3.950% | 8/16/25 | 31,562 | 30,689 | ||
RTX Corp. | 5.000% | 2/27/26 | 6,055 | 6,027 | ||
RTX Corp. | 2.650% | 11/1/26 | 965 | 895 | ||
RTX Corp. | 3.500% | 3/15/27 | 26,831 | 25,332 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
RTX Corp. | 3.125% | 5/4/27 | 19,049 | 17,753 | ||
RTX Corp. | 4.125% | 11/16/28 | 30,210 | 28,824 | ||
2 | Ryder System Inc. | 2.500% | 9/1/24 | 4,717 | 4,559 | |
2 | Ryder System Inc. | 4.625% | 6/1/25 | 3,297 | 3,232 | |
2 | Ryder System Inc. | 3.350% | 9/1/25 | 13,223 | 12,648 | |
2 | Ryder System Inc. | 1.750% | 9/1/26 | 2,586 | 2,329 | |
2 | Ryder System Inc. | 2.900% | 12/1/26 | 10,482 | 9,639 | |
2 | Ryder System Inc. | 2.850% | 3/1/27 | 7,687 | 7,067 | |
2 | Ryder System Inc. | 5.650% | 3/1/28 | 12,713 | 12,737 | |
2 | Ryder System Inc. | 5.250% | 6/1/28 | 17,589 | 17,359 | |
Southwest Airlines Co. | 5.250% | 5/4/25 | 33,802 | 33,565 | ||
Southwest Airlines Co. | 3.000% | 11/15/26 | 3,978 | 3,706 | ||
Southwest Airlines Co. | 5.125% | 6/15/27 | 21,104 | 20,840 | ||
Southwest Airlines Co. | 3.450% | 11/16/27 | 5,624 | 5,198 | ||
Teledyne Technologies Inc. | 1.600% | 4/1/26 | 14,215 | 12,958 | ||
Teledyne Technologies Inc. | 2.250% | 4/1/28 | 17,221 | 15,016 | ||
Textron Inc. | 3.875% | 3/1/25 | 4,947 | 4,817 | ||
Textron Inc. | 4.000% | 3/15/26 | 12,667 | 12,221 | ||
Textron Inc. | 3.650% | 3/15/27 | 5,293 | 4,980 | ||
Timken Co. | 3.875% | 9/1/24 | 2,869 | 2,806 | ||
Trane Technologies Global Holding Co. Ltd. | 3.750% | 8/21/28 | 9,315 | 8,745 | ||
Trane Technologies Luxembourg Finance SA | 3.550% | 11/1/24 | 2,431 | 2,377 | ||
Trane Technologies Luxembourg Finance SA | 3.500% | 3/21/26 | 8,763 | 8,389 | ||
Trimble Inc. | 4.750% | 12/1/24 | 7,152 | 7,039 | ||
Trimble Inc. | 4.900% | 6/15/28 | 7,991 | 7,768 | ||
Tyco Electronics Group SA | 4.500% | 2/13/26 | 9,477 | 9,318 | ||
Tyco Electronics Group SA | 3.700% | 2/15/26 | 9,350 | 9,027 | ||
Tyco Electronics Group SA | 3.125% | 8/15/27 | 15,732 | 14,679 | ||
Union Pacific Corp. | 3.250% | 1/15/25 | 2,922 | 2,841 | ||
Union Pacific Corp. | 3.750% | 7/15/25 | 4,698 | 4,565 | ||
Union Pacific Corp. | 3.250% | 8/15/25 | 10,566 | 10,177 | ||
Union Pacific Corp. | 2.750% | 3/1/26 | 15,371 | 14,529 | ||
2 | United Airlines Pass-Through Trust Class A Series 2013-1 | 4.300% | 8/15/25 | 7,143 | 6,860 | |
2 | United Airlines Pass-Through Trust Class A Series 2014-1 | 4.000% | 4/11/26 | 8,687 | 8,254 | |
2 | United Airlines Pass-Through Trust Class A Series 2014-2 | 3.750% | 9/3/26 | 7,290 | 6,836 | |
2 | United Airlines Pass-Through Trust Class A Series 2020-1 | 5.875% | 10/15/27 | 36,873 | 36,714 | |
2 | United Airlines Pass-Through Trust Class B Series 2020-1 | 4.875% | 1/15/26 | 12,306 | 11,948 | |
United Parcel Service Inc. | 2.200% | 9/1/24 | 9,080 | 8,795 | ||
United Parcel Service Inc. | 2.800% | 11/15/24 | 17,473 | 16,955 | ||
United Parcel Service Inc. | 3.900% | 4/1/25 | 2,218 | 2,174 | ||
United Parcel Service Inc. | 2.400% | 11/15/26 | 4,219 | 3,926 | ||
United Parcel Service Inc. | 3.050% | 11/15/27 | 19,408 | 18,183 | ||
United Parcel Service Inc. | 3.400% | 3/15/29 | 4,410 | 4,127 | ||
Vontier Corp. | 1.800% | 4/1/26 | 8,756 | 7,871 | ||
Waste Management Inc. | 0.750% | 11/15/25 | 11,720 | 10,654 | ||
Waste Management Inc. | 3.150% | 11/15/27 | 11,475 | 10,696 | ||
Waste Management Inc. | 2.000% | 6/1/29 | 5,030 | 4,261 | ||
Westinghouse Air Brake Technologies Corp. | 3.200% | 6/15/25 | 13,637 | 13,008 | ||
Westinghouse Air Brake Technologies Corp. | 3.450% | 11/15/26 | 14,808 | 13,938 | ||
WW Grainger Inc. | 1.850% | 2/15/25 | 8,556 | 8,131 | ||
Xylem Inc. | 3.250% | 11/1/26 | 11,405 | 10,732 | ||
Xylem Inc. | 1.950% | 1/30/28 | 9,000 | 7,898 | ||
2,671,465 | ||||||
Materials (1.9%) | ||||||
Air Products and Chemicals Inc. | 1.500% | 10/15/25 | 6,321 | 5,864 | ||
Air Products and Chemicals Inc. | 1.850% | 5/15/27 | 5,691 | 5,122 | ||
Albemarle Corp. | 4.650% | 6/1/27 | 11,810 | 11,421 | ||
Amcor Finance USA Inc. | 3.625% | 4/28/26 | 6,044 | 5,729 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Amcor Flexibles North America Inc. | 4.000% | 5/17/25 | 14,290 | 13,861 | ||
ArcelorMittal SA | 4.550% | 3/11/26 | 7,391 | 7,235 | ||
ArcelorMittal SA | 6.550% | 11/29/27 | 18,706 | 19,158 | ||
Berry Global Inc. | 1.570% | 1/15/26 | 14,948 | 13,588 | ||
Berry Global Inc. | 1.650% | 1/15/27 | 8,835 | 7,663 | ||
3 | Berry Global Inc. | 5.500% | 4/15/28 | 9,250 | 9,087 | |
BHP Billiton Finance USA Ltd. | 4.875% | 2/27/26 | 13,770 | 13,667 | ||
BHP Billiton Finance USA Ltd. | 6.420% | 3/1/26 | 8,230 | 8,448 | ||
BHP Billiton Finance USA Ltd. | 4.750% | 2/28/28 | 21,125 | 20,928 | ||
Carlisle Cos. Inc. | 3.500% | 12/1/24 | 8,725 | 8,456 | ||
Carlisle Cos. Inc. | 3.750% | 12/1/27 | 11,200 | 10,566 | ||
Celanese US Holdings LLC | 6.050% | 3/15/25 | 10,554 | 10,562 | ||
Celanese US Holdings LLC | 1.400% | 8/5/26 | 4,338 | 3,788 | ||
Celanese US Holdings LLC | 6.165% | 7/15/27 | 42,380 | 42,429 | ||
Celulosa Arauco y Constitucion SA | 3.875% | 11/2/27 | 8,800 | 8,043 | ||
DuPont de Nemours Inc. | 4.493% | 11/15/25 | 42,104 | 41,242 | ||
Eastman Chemical Co. | 3.800% | 3/15/25 | 18,760 | 18,247 | ||
Ecolab Inc. | 2.700% | 11/1/26 | 12,821 | 12,002 | ||
Ecolab Inc. | 1.650% | 2/1/27 | 8,903 | 7,981 | ||
Ecolab Inc. | 3.250% | 12/1/27 | 10,394 | 9,747 | ||
Ecolab Inc. | 5.250% | 1/15/28 | 8,267 | 8,376 | ||
EIDP Inc. | 1.700% | 7/15/25 | 4,577 | 4,268 | ||
EIDP Inc. | 4.500% | 5/15/26 | 10,775 | 10,562 | ||
Fibria Overseas Finance Ltd. | 4.000% | 1/14/25 | 8,748 | 8,508 | ||
Fibria Overseas Finance Ltd. | 5.500% | 1/17/27 | 15,763 | 15,745 | ||
FMC Corp. | 5.150% | 5/18/26 | 5,606 | 5,555 | ||
FMC Corp. | 3.200% | 10/1/26 | 12,456 | 11,530 | ||
Freeport-McMoRan Inc. | 4.550% | 11/14/24 | 2,167 | 2,131 | ||
Freeport-McMoRan Inc. | 5.000% | 9/1/27 | 12,022 | 11,572 | ||
Freeport-McMoRan Inc. | 4.125% | 3/1/28 | 8,635 | 8,023 | ||
3 | Georgia-Pacific LLC | 2.100% | 4/30/27 | 3,760 | 3,414 | |
Kinross Gold Corp. | 4.500% | 7/15/27 | 8,626 | 8,312 | ||
Linde Inc. | 4.800% | 12/5/24 | 3,265 | 3,247 | ||
Linde Inc. | 2.650% | 2/5/25 | 6,962 | 6,694 | ||
Linde Inc. | 4.700% | 12/5/25 | 11,215 | 11,117 | ||
Linde Inc. | 3.200% | 1/30/26 | 15,492 | 14,905 | ||
LYB International Finance II BV | 3.500% | 3/2/27 | 7,526 | 7,094 | ||
LYB International Finance III LLC | 1.250% | 10/1/25 | 5,755 | 5,251 | ||
Martin Marietta Materials Inc. | 3.450% | 6/1/27 | 10,357 | 9,723 | ||
Martin Marietta Materials Inc. | 3.500% | 12/15/27 | 6,741 | 6,306 | ||
Mosaic Co. | 4.050% | 11/15/27 | 14,160 | 13,502 | ||
Nucor Corp. | 3.950% | 5/23/25 | 7,139 | 6,940 | ||
Nucor Corp. | 2.000% | 6/1/25 | 19,606 | 18,444 | ||
Nucor Corp. | 4.300% | 5/23/27 | 4,672 | 4,531 | ||
Nucor Corp. | 3.950% | 5/1/28 | 4,915 | 4,672 | ||
Nutrien Ltd. | 5.900% | 11/7/24 | 5,945 | 5,943 | ||
Nutrien Ltd. | 3.000% | 4/1/25 | 7,617 | 7,298 | ||
Nutrien Ltd. | 5.950% | 11/7/25 | 8,293 | 8,343 | ||
Nutrien Ltd. | 4.000% | 12/15/26 | 14,570 | 13,920 | ||
Nutrien Ltd. | 4.900% | 3/27/28 | 14,422 | 14,098 | ||
Packaging Corp. of America | 3.650% | 9/15/24 | 7,498 | 7,327 | ||
Packaging Corp. of America | 3.400% | 12/15/27 | 8,923 | 8,315 | ||
PPG Industries Inc. | 1.200% | 3/15/26 | 17,008 | 15,342 | ||
PPG Industries Inc. | 3.750% | 3/15/28 | 4,700 | 4,429 | ||
Reliance Steel & Aluminum Co. | 1.300% | 8/15/25 | 5,925 | 5,446 | ||
Rio Tinto Finance USA Ltd. | 7.125% | 7/15/28 | 13,052 | 14,245 | ||
RPM International Inc. | 3.750% | 3/15/27 | 14,592 | 13,684 | ||
Sherwin-Williams Co. | 3.450% | 8/1/25 | 8,695 | 8,370 | ||
Sherwin-Williams Co. | 4.250% | 8/8/25 | 3,427 | 3,353 | ||
Sherwin-Williams Co. | 3.450% | 6/1/27 | 16,825 | 15,860 | ||
Sonoco Products Co. | 2.250% | 2/1/27 | �� 8,398 | 7,507 | ||
Southern Copper Corp. | 3.875% | 4/23/25 | 8,695 | 8,431 | ||
Steel Dynamics Inc. | 2.800% | 12/15/24 | 14,897 | 14,352 | ||
Steel Dynamics Inc. | 2.400% | 6/15/25 | 18,693 | 17,601 | ||
Vulcan Materials Co. | 4.500% | 4/1/25 | 7,256 | 7,132 | ||
Vulcan Materials Co. | 3.900% | 4/1/27 | 9,747 | 9,329 | ||
Westlake Corp. | 3.600% | 8/15/26 | 18,751 | 17,775 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
WRKCo Inc. | 3.000% | 9/15/24 | 3,156 | 3,056 | ||
WRKCo Inc. | 3.750% | 3/15/25 | 24,065 | 23,354 | ||
WRKCo Inc. | 4.650% | 3/15/26 | 6,888 | 6,701 | ||
WRKCo Inc. | 4.000% | 3/15/28 | 10,448 | 9,749 | ||
WRKCo Inc. | 3.900% | 6/1/28 | 12,838 | 11,915 | ||
808,131 | ||||||
Real Estate (3.9%) | ||||||
Agree LP | 2.000% | 6/15/28 | 4,376 | 3,672 | ||
Alexandria Real Estate Equities Inc. | 3.450% | 4/30/25 | 15,616 | 15,069 | ||
Alexandria Real Estate Equities Inc. | 4.300% | 1/15/26 | 6,946 | 6,724 | ||
Alexandria Real Estate Equities Inc. | 3.800% | 4/15/26 | 7,251 | 6,958 | ||
Alexandria Real Estate Equities Inc. | 3.950% | 1/15/27 | 8,743 | 8,276 | ||
Alexandria Real Estate Equities Inc. | 3.950% | 1/15/28 | 5,032 | 4,723 | ||
American Homes 4 Rent LP | 4.250% | 2/15/28 | 10,808 | 10,236 | ||
American Tower Corp. | 2.950% | 1/15/25 | 16,965 | 16,314 | ||
American Tower Corp. | 2.400% | 3/15/25 | 15,120 | 14,363 | ||
American Tower Corp. | 4.000% | 6/1/25 | 17,527 | 16,995 | ||
American Tower Corp. | 1.300% | 9/15/25 | 5,783 | 5,304 | ||
American Tower Corp. | 4.400% | 2/15/26 | 11,084 | 10,782 | ||
American Tower Corp. | 1.600% | 4/15/26 | 2,419 | 2,185 | ||
American Tower Corp. | 1.450% | 9/15/26 | 6,889 | 6,102 | ||
American Tower Corp. | 3.375% | 10/15/26 | 25,912 | 24,286 | ||
American Tower Corp. | 2.750% | 1/15/27 | 6,893 | 6,299 | ||
American Tower Corp. | 3.125% | 1/15/27 | 5,895 | 5,431 | ||
American Tower Corp. | 3.650% | 3/15/27 | 8,834 | 8,291 | ||
American Tower Corp. | 3.550% | 7/15/27 | 21,865 | 20,270 | ||
American Tower Corp. | 3.600% | 1/15/28 | 3,957 | 3,650 | ||
American Tower Corp. | 1.500% | 1/31/28 | 4,527 | 3,800 | ||
American Tower Corp. | 5.500% | 3/15/28 | 19,943 | 19,851 | ||
American Tower Corp. | 5.250% | 7/15/28 | 12,625 | 12,429 | ||
2 | AvalonBay Communities Inc. | 3.500% | 11/15/24 | 7,355 | 7,187 | |
2 | AvalonBay Communities Inc. | 3.450% | 6/1/25 | 9,744 | 9,432 | |
2 | AvalonBay Communities Inc. | 3.500% | 11/15/25 | 3,080 | 2,946 | |
2 | AvalonBay Communities Inc. | 2.950% | 5/11/26 | 9,711 | 9,150 | |
2 | AvalonBay Communities Inc. | 2.900% | 10/15/26 | 2,097 | 1,943 | |
2 | AvalonBay Communities Inc. | 3.350% | 5/15/27 | 4,155 | 3,886 | |
2 | AvalonBay Communities Inc. | 3.200% | 1/15/28 | 8,751 | 8,082 | |
Boston Properties LP | 3.200% | 1/15/25 | 15,872 | 15,225 | ||
Boston Properties LP | 3.650% | 2/1/26 | 26,691 | 25,149 | ||
Boston Properties LP | 2.750% | 10/1/26 | 16,611 | 14,985 | ||
Boston Properties LP | 6.750% | 12/1/27 | 18,635 | 19,045 | ||
Brandywine Operating Partnership LP | 4.100% | 10/1/24 | 4,822 | 4,619 | ||
Brandywine Operating Partnership LP | 3.950% | 11/15/27 | 6,223 | 5,124 | ||
Brandywine Operating Partnership LP | 7.550% | 3/15/28 | 4,955 | 4,652 | ||
Brixmor Operating Partnership LP | 3.850% | 2/1/25 | 15,822 | 15,260 | ||
Brixmor Operating Partnership LP | 4.125% | 6/15/26 | 10,336 | 9,794 | ||
Brixmor Operating Partnership LP | 3.900% | 3/15/27 | 5,524 | 5,134 | ||
Brixmor Operating Partnership LP | 2.250% | 4/1/28 | 5,017 | 4,275 | ||
CBRE Services Inc. | 4.875% | 3/1/26 | 11,104 | 10,859 | ||
Corporate Office Properties LP | 2.250% | 3/15/26 | 12,130 | 10,954 | ||
Crown Castle Inc. | 3.200% | 9/1/24 | 24,396 | 23,753 | ||
Crown Castle Inc. | 1.350% | 7/15/25 | 2,959 | 2,732 | ||
Crown Castle Inc. | 4.450% | 2/15/26 | 15,660 | 15,257 | ||
Crown Castle Inc. | 3.700% | 6/15/26 | 11,385 | 10,843 | ||
Crown Castle Inc. | 1.050% | 7/15/26 | 14,869 | 13,117 | ||
Crown Castle Inc. | 4.000% | 3/1/27 | 12,056 | 11,449 | ||
Crown Castle Inc. | 2.900% | 3/15/27 | 10,329 | 9,484 | ||
Crown Castle Inc. | 5.000% | 1/11/28 | 38,200 | 37,509 | ||
Crown Castle Inc. | 3.800% | 2/15/28 | 14,595 | 13,580 | ||
Crown Castle Inc. | 4.800% | 9/1/28 | 5,325 | 5,170 | ||
CubeSmart LP | 4.000% | 11/15/25 | 8,251 | 7,904 | ||
CubeSmart LP | 3.125% | 9/1/26 | 2,515 | 2,331 | ||
Digital Realty Trust LP | 3.700% | 8/15/27 | 12,809 | 11,944 | ||
Digital Realty Trust LP | 5.550% | 1/15/28 | 24,490 | 24,448 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Digital Realty Trust LP | 4.450% | 7/15/28 | 4,620 | 4,374 | ||
EPR Properties | 4.500% | 4/1/25 | 5,114 | 4,905 | ||
EPR Properties | 4.500% | 6/1/27 | 19,960 | 18,008 | ||
EPR Properties | 4.950% | 4/15/28 | 2,065 | 1,851 | ||
Equinix Inc. | 2.625% | 11/18/24 | 24,058 | 23,189 | ||
Equinix Inc. | 1.250% | 7/15/25 | 5,263 | 4,854 | ||
Equinix Inc. | 1.000% | 9/15/25 | 13,363 | 12,189 | ||
Equinix Inc. | 1.450% | 5/15/26 | 13,676 | 12,289 | ||
Equinix Inc. | 2.900% | 11/18/26 | 3,167 | 2,931 | ||
Equinix Inc. | 1.800% | 7/15/27 | 3,341 | 2,919 | ||
Equinix Inc. | 1.550% | 3/15/28 | 3,073 | 2,597 | ||
Equinix Inc. | 2.000% | 5/15/28 | 6,830 | 5,834 | ||
ERP Operating LP | 3.375% | 6/1/25 | 15,809 | 15,238 | ||
ERP Operating LP | 2.850% | 11/1/26 | 8,714 | 8,117 | ||
ERP Operating LP | 3.250% | 8/1/27 | 4,027 | 3,727 | ||
Essex Portfolio LP | 3.875% | 5/1/24 | 8,120 | 7,984 | ||
Essex Portfolio LP | 3.500% | 4/1/25 | 17,814 | 17,210 | ||
Essex Portfolio LP | 3.375% | 4/15/26 | 3,055 | 2,900 | ||
Essex Portfolio LP | 3.625% | 5/1/27 | 10,097 | 9,418 | ||
Essex Portfolio LP | 1.700% | 3/1/28 | 8,019 | 6,803 | ||
Extra Space Storage LP | 3.500% | 7/1/26 | 8,286 | 7,795 | ||
Extra Space Storage LP | 5.700% | 4/1/28 | 11,069 | 11,127 | ||
Federal Realty OP LP | 1.250% | 2/15/26 | 7,535 | 6,788 | ||
Federal Realty OP LP | 3.250% | 7/15/27 | 9,755 | 8,968 | ||
Federal Realty OP LP | 5.375% | 5/1/28 | 6,695 | 6,598 | ||
GLP Capital LP | 3.350% | 9/1/24 | 6,663 | 6,465 | ||
GLP Capital LP | 5.250% | 6/1/25 | 18,985 | 18,651 | ||
GLP Capital LP | 5.375% | 4/15/26 | 17,366 | 17,005 | ||
GLP Capital LP | 5.750% | 6/1/28 | 10,000 | 9,715 | ||
Healthcare Realty Holdings LP | 3.500% | 8/1/26 | 15,304 | 14,286 | ||
Healthcare Realty Holdings LP | 3.750% | 7/1/27 | 9,480 | 8,798 | ||
Healthpeak OP LLC | 3.400% | 2/1/25 | 9,605 | 9,285 | ||
Healthpeak OP LLC | 4.000% | 6/1/25 | 5,318 | 5,175 | ||
Healthpeak OP LLC | 3.250% | 7/15/26 | 5,201 | 4,919 | ||
Healthpeak OP LLC | 1.350% | 2/1/27 | 5,860 | 5,142 | ||
Highwoods Realty LP | 3.875% | 3/1/27 | 9,923 | 9,116 | ||
Highwoods Realty LP | 4.125% | 3/15/28 | 3,800 | 3,417 | ||
2 | Host Hotels & Resorts LP | 4.000% | 6/15/25 | 11,950 | 11,539 | |
2 | Host Hotels & Resorts LP | 4.500% | 2/1/26 | 10,873 | 10,487 | |
Hudson Pacific Properties LP | 3.950% | 11/1/27 | 6,926 | 5,493 | ||
Hudson Pacific Properties LP | 5.950% | 2/15/28 | 6,855 | 5,792 | ||
Kilroy Realty LP | 3.450% | 12/15/24 | 6,580 | 6,344 | ||
Kilroy Realty LP | 4.375% | 10/1/25 | 6,997 | 6,667 | ||
Kimco Realty OP LLC | 3.300% | 2/1/25 | 14,793 | 14,251 | ||
Kimco Realty OP LLC | 2.800% | 10/1/26 | 4,743 | 4,363 | ||
Kimco Realty OP LLC | 3.800% | 4/1/27 | 10,930 | 10,229 | ||
Kimco Realty OP LLC | 1.900% | 3/1/28 | 5,678 | 4,810 | ||
Kite Realty Group LP | 4.000% | 10/1/26 | 10,576 | 9,649 | ||
Kite Realty Group Trust | 4.000% | 3/15/25 | 3,400 | 3,265 | ||
Mid-America Apartments LP | 4.000% | 11/15/25 | 11,800 | 11,476 | ||
Mid-America Apartments LP | 1.100% | 9/15/26 | 4,849 | 4,284 | ||
Mid-America Apartments LP | 3.600% | 6/1/27 | 15,206 | 14,393 | ||
Mid-America Apartments LP | 4.200% | 6/15/28 | 5,990 | 5,704 | ||
NNN REIT Inc. | 4.000% | 11/15/25 | 11,582 | 11,144 | ||
NNN REIT Inc. | 3.600% | 12/15/26 | 6,310 | 5,893 | ||
NNN REIT Inc. | 3.500% | 10/15/27 | 3,600 | 3,312 | ||
NNN REIT Inc. | 4.300% | 10/15/28 | 711 | 667 | ||
Omega Healthcare Investors Inc. | 4.500% | 1/15/25 | 4,783 | 4,663 | ||
Omega Healthcare Investors Inc. | 5.250% | 1/15/26 | 12,362 | 12,161 | ||
Omega Healthcare Investors Inc. | 4.500% | 4/1/27 | 14,789 | 13,988 | ||
Omega Healthcare Investors Inc. | 4.750% | 1/15/28 | 9,260 | 8,700 | ||
Physicians Realty LP | 4.300% | 3/15/27 | 6,964 | 6,664 | ||
Physicians Realty LP | 3.950% | 1/15/28 | 3,210 | 2,942 | ||
Piedmont Operating Partnership LP | 9.250% | 7/20/28 | 7,137 | 7,298 | ||
Prologis LP | 3.250% | 6/30/26 | 9,117 | 8,645 | ||
Prologis LP | 3.250% | 10/1/26 | 11,359 | 10,733 | ||
Prologis LP | 2.125% | 4/15/27 | 10,576 | 9,532 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Prologis LP | 3.375% | 12/15/27 | 9,020 | 8,413 | ||
Prologis LP | 4.875% | 6/15/28 | 14,364 | 14,217 | ||
Public Storage Operating Co. | 0.875% | 2/15/26 | 6,423 | 5,786 | ||
Public Storage Operating Co. | 1.500% | 11/9/26 | 14,571 | 13,112 | ||
Public Storage Operating Co. | 3.094% | 9/15/27 | 5,986 | 5,586 | ||
Public Storage Operating Co. | 1.850% | 5/1/28 | 3,928 | 3,413 | ||
Public Storage Operating Co. | 1.950% | 11/9/28 | 5,553 | 4,777 | ||
Public Storage Operating Co. | 5.125% | 1/15/29 | 2,295 | 2,291 | ||
Realty Income Corp. | 3.875% | 4/15/25 | 14,248 | 13,876 | ||
Realty Income Corp. | 4.625% | 11/1/25 | 11,479 | 11,296 | ||
Realty Income Corp. | 0.750% | 3/15/26 | 2,226 | 1,977 | ||
Realty Income Corp. | 4.875% | 6/1/26 | 15,361 | 15,180 | ||
Realty Income Corp. | 4.125% | 10/15/26 | 9,322 | 9,006 | ||
Realty Income Corp. | 3.000% | 1/15/27 | 14,928 | 13,868 | ||
Realty Income Corp. | 3.950% | 8/15/27 | 7,026 | 6,700 | ||
Realty Income Corp. | 3.400% | 1/15/28 | 16,924 | 15,693 | ||
Realty Income Corp. | 2.200% | 6/15/28 | 9,359 | 8,124 | ||
Regency Centers LP | 3.600% | 2/1/27 | 9,785 | 9,226 | ||
Regency Centers LP | 4.125% | 3/15/28 | 5,009 | 4,704 | ||
Rexford Industrial Realty LP | 5.000% | 6/15/28 | 4,055 | 3,943 | ||
Sabra Health Care LP | 5.125% | 8/15/26 | 7,867 | 7,603 | ||
Simon Property Group LP | 2.000% | 9/13/24 | 20,975 | 20,182 | ||
Simon Property Group LP | 3.375% | 10/1/24 | 6,603 | 6,441 | ||
Simon Property Group LP | 3.500% | 9/1/25 | 31,299 | 30,157 | ||
Simon Property Group LP | 3.300% | 1/15/26 | 13,392 | 12,767 | ||
Simon Property Group LP | 3.250% | 11/30/26 | 20,092 | 18,846 | ||
Simon Property Group LP | 1.375% | 1/15/27 | 2,516 | 2,217 | ||
Simon Property Group LP | 3.375% | 6/15/27 | 8,845 | 8,252 | ||
Simon Property Group LP | 3.375% | 12/1/27 | 6,383 | 5,907 | ||
Simon Property Group LP | 1.750% | 2/1/28 | 13,671 | 11,743 | ||
SITE Centers Corp. | 3.625% | 2/1/25 | 7,288 | 6,935 | ||
SITE Centers Corp. | 4.250% | 2/1/26 | 2,472 | 2,317 | ||
SITE Centers Corp. | 4.700% | 6/1/27 | 9,941 | 9,341 | ||
Spirit Realty LP | 4.450% | 9/15/26 | 4,997 | 4,769 | ||
Spirit Realty LP | 3.200% | 1/15/27 | 2,549 | 2,321 | ||
Spirit Realty LP | 2.100% | 3/15/28 | 3,821 | 3,259 | ||
STORE Capital Corp. | 4.500% | 3/15/28 | 5,515 | 4,935 | ||
Sun Communities Operating LP | 2.300% | 11/1/28 | 4,133 | 3,477 | ||
Tanger Properties LP | 3.125% | 9/1/26 | 3,194 | 2,907 | ||
Tanger Properties LP | 3.875% | 7/15/27 | 6,308 | 5,649 | ||
2 | UDR Inc. | 2.950% | 9/1/26 | 3,923 | 3,626 | |
Ventas Realty LP | 2.650% | 1/15/25 | 6,287 | 5,994 | ||
Ventas Realty LP | 3.500% | 2/1/25 | 7,155 | 6,887 | ||
Ventas Realty LP | 4.125% | 1/15/26 | 13,546 | 13,035 | ||
Ventas Realty LP | 3.250% | 10/15/26 | 9,404 | 8,689 | ||
Ventas Realty LP | 3.850% | 4/1/27 | 9,851 | 9,248 | ||
Ventas Realty LP | 4.000% | 3/1/28 | 7,527 | 6,995 | ||
VICI Properties LP | 4.375% | 5/15/25 | 12,760 | 12,408 | ||
VICI Properties LP | 4.750% | 2/15/28 | 22,895 | 21,793 | ||
Vornado Realty LP | 3.500% | 1/15/25 | 9,567 | 9,076 | ||
Vornado Realty LP | 2.150% | 6/1/26 | 2,410 | 2,077 | ||
Welltower OP LLC | 4.000% | 6/1/25 | 22,005 | 21,338 | ||
Welltower OP LLC | 4.250% | 4/1/26 | 8,728 | 8,450 | ||
Welltower OP LLC | 2.700% | 2/15/27 | 12,418 | 11,387 | ||
Welltower OP LLC | 4.250% | 4/15/28 | 13,277 | 12,561 | ||
Weyerhaeuser Co. | 4.750% | 5/15/26 | 9,847 | 9,691 | ||
WP Carey Inc. | 4.000% | 2/1/25 | 10,054 | 9,792 | ||
WP Carey Inc. | 4.250% | 10/1/26 | 4,406 | 4,236 | ||
1,683,403 | ||||||
Technology (7.7%) | ||||||
Adobe Inc. | 1.900% | 2/1/25 | 6,716 | 6,421 | ||
Adobe Inc. | 3.250% | 2/1/25 | 20,735 | 20,187 | ||
Adobe Inc. | 2.150% | 2/1/27 | 8,438 | 7,746 | ||
Analog Devices Inc. | 2.950% | 4/1/25 | 11,078 | 10,689 | ||
Analog Devices Inc. | 3.500% | 12/5/26 | 7,754 | 7,425 | ||
3 | Analog Devices Inc. | 3.450% | 6/15/27 | 10,583 | 9,997 | |
Apple Inc. | 1.800% | 9/11/24 | 5,702 | 5,503 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Apple Inc. | 2.750% | 1/13/25 | 34,457 | 33,379 | ||
Apple Inc. | 2.500% | 2/9/25 | 32,337 | 31,170 | ||
Apple Inc. | 1.125% | 5/11/25 | 44,944 | 42,046 | ||
Apple Inc. | 3.200% | 5/13/25 | 31,064 | 30,136 | ||
Apple Inc. | 0.550% | 8/20/25 | 17,932 | 16,478 | ||
Apple Inc. | 0.700% | 2/8/26 | 34,206 | 30,933 | ||
Apple Inc. | 3.250% | 2/23/26 | 62,858 | 60,436 | ||
Apple Inc. | 2.450% | 8/4/26 | 33,510 | 31,372 | ||
Apple Inc. | 2.050% | 9/11/26 | 27,463 | 25,359 | ||
Apple Inc. | 3.350% | 2/9/27 | 33,306 | 31,825 | ||
Apple Inc. | 3.200% | 5/11/27 | 51,230 | 48,647 | ||
Apple Inc. | 3.000% | 6/20/27 | 28,934 | 27,301 | ||
Apple Inc. | 2.900% | 9/12/27 | 32,386 | 30,298 | ||
Apple Inc. | 3.000% | 11/13/27 | 28,690 | 26,923 | ||
Apple Inc. | 1.200% | 2/8/28 | 33,754 | 29,154 | ||
Apple Inc. | 4.000% | 5/10/28 | 34,130 | 33,337 | ||
Apple Inc. | 1.400% | 8/5/28 | 40,893 | 35,174 | ||
Applied Materials Inc. | 3.900% | 10/1/25 | 15,470 | 15,082 | ||
Applied Materials Inc. | 3.300% | 4/1/27 | 13,608 | 12,927 | ||
Arrow Electronics Inc. | 3.250% | 9/8/24 | 8,687 | 8,447 | ||
Arrow Electronics Inc. | 4.000% | 4/1/25 | 6,230 | 6,050 | ||
Arrow Electronics Inc. | 3.875% | 1/12/28 | 10,950 | 10,123 | ||
Autodesk Inc. | 4.375% | 6/15/25 | 6,114 | 5,996 | ||
Autodesk Inc. | 3.500% | 6/15/27 | 10,081 | 9,524 | ||
Automatic Data Processing Inc. | 3.375% | 9/15/25 | 28,046 | 27,133 | ||
Automatic Data Processing Inc. | 1.700% | 5/15/28 | 14,282 | 12,502 | ||
Avnet Inc. | 4.625% | 4/15/26 | 4,040 | 3,910 | ||
Avnet Inc. | 6.250% | 3/15/28 | 10,350 | 10,431 | ||
Broadcom Corp. | 3.875% | 1/15/27 | 68,310 | 64,889 | ||
Broadcom Corp. | 3.500% | 1/15/28 | 9,475 | 8,735 | ||
Broadcom Inc. | 3.625% | 10/15/24 | 5,681 | 5,556 | ||
Broadcom Inc. | 3.150% | 11/15/25 | 9,419 | 8,959 | ||
Broadcom Inc. | 3.459% | 9/15/26 | 14,108 | 13,354 | ||
Broadcom Inc. | 4.110% | 9/15/28 | 15,000 | 14,110 | ||
Broadridge Financial Solutions Inc. | 3.400% | 6/27/26 | 5,298 | 5,013 | ||
Cadence Design Systems Inc. | 4.375% | 10/15/24 | 4,475 | 4,415 | ||
CDW LLC | 4.125% | 5/1/25 | 13,299 | 12,874 | ||
CDW LLC | 2.670% | 12/1/26 | 10,493 | 9,540 | ||
CGI Inc. | 1.450% | 9/14/26 | 11,658 | 10,312 | ||
Cintas Corp. No. 2 | 3.700% | 4/1/27 | 26,059 | 24,983 | ||
Cisco Systems Inc. | 3.500% | 6/15/25 | 4,296 | 4,179 | ||
Cisco Systems Inc. | 2.950% | 2/28/26 | 19,015 | 18,241 | ||
Cisco Systems Inc. | 2.500% | 9/20/26 | 26,067 | 24,399 | ||
Concentrix Corp. | 6.650% | 8/2/26 | 15,750 | 15,747 | ||
Concentrix Corp. | 6.600% | 8/2/28 | 16,000 | 15,667 | ||
Dell International LLC | 5.850% | 7/15/25 | 2,899 | 2,904 | ||
Dell International LLC | 6.020% | 6/15/26 | 59,335 | 59,938 | ||
Dell International LLC | 4.900% | 10/1/26 | 35,923 | 35,259 | ||
Dell International LLC | 6.100% | 7/15/27 | 11,241 | 11,502 | ||
Dell International LLC | 5.250% | 2/1/28 | 22,670 | 22,617 | ||
DXC Technology Co. | 1.800% | 9/15/26 | 10,035 | 8,809 | ||
Equifax Inc. | 2.600% | 12/1/24 | 25,190 | 24,209 | ||
Equifax Inc. | 2.600% | 12/15/25 | 13,927 | 13,011 | ||
Equifax Inc. | 5.100% | 12/15/27 | 7,378 | 7,277 | ||
Equifax Inc. | 5.100% | 6/1/28 | 21,882 | 21,409 | ||
Fidelity National Information Services Inc. | 4.500% | 7/15/25 | 17,589 | 17,243 | ||
Fidelity National Information Services Inc. | 1.150% | 3/1/26 | 24,387 | 21,950 | ||
Fidelity National Information Services Inc. | 4.700% | 7/15/27 | 7,638 | 7,497 | ||
Fidelity National Information Services Inc. | 1.650% | 3/1/28 | 11,695 | 10,030 | ||
Fiserv Inc. | 3.850% | 6/1/25 | 7,465 | 7,244 | ||
Fiserv Inc. | 3.200% | 7/1/26 | 40,610 | 38,308 | ||
Fiserv Inc. | 2.250% | 6/1/27 | 22,876 | 20,514 | ||
Fiserv Inc. | 5.450% | 3/2/28 | 15,948 | 16,038 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Fiserv Inc. | 5.375% | 8/21/28 | 4,291 | 4,303 | ||
Flex Ltd. | 4.750% | 6/15/25 | 12,989 | 12,730 | ||
Flex Ltd. | 3.750% | 2/1/26 | 18,757 | 17,911 | ||
Fortinet Inc. | 1.000% | 3/15/26 | 9,265 | 8,274 | ||
Genpact Luxembourg Sarl | 3.375% | 12/1/24 | 9,857 | 9,507 | ||
Harman International Industries Inc. | 4.150% | 5/15/25 | 2,893 | 2,816 | ||
Hewlett Packard Enterprise Co. | 5.900% | 10/1/24 | 15,414 | 15,442 | ||
Hewlett Packard Enterprise Co. | 4.900% | 10/15/25 | 39,639 | 39,106 | ||
Hewlett Packard Enterprise Co. | 1.750% | 4/1/26 | 18,654 | 17,017 | ||
Hewlett Packard Enterprise Co. | 5.250% | 7/1/28 | 14,725 | 14,601 | ||
HP Inc. | 2.200% | 6/17/25 | 29,786 | 28,075 | ||
HP Inc. | 1.450% | 6/17/26 | 7,179 | 6,468 | ||
HP Inc. | 3.000% | 6/17/27 | 17,177 | 15,789 | ||
HP Inc. | 4.750% | 1/15/28 | 18,081 | 17,610 | ||
Hubbell Inc. | 3.350% | 3/1/26 | 10,695 | 10,194 | ||
Hubbell Inc. | 3.150% | 8/15/27 | 3,695 | 3,428 | ||
Hubbell Inc. | 3.500% | 2/15/28 | 3,125 | 2,933 | ||
Intel Corp. | 3.400% | 3/25/25 | 35,093 | 34,069 | ||
Intel Corp. | 3.700% | 7/29/25 | 49,608 | 48,189 | ||
Intel Corp. | 2.600% | 5/19/26 | 10,532 | 9,924 | ||
Intel Corp. | 3.750% | 3/25/27 | 22,101 | 21,217 | ||
Intel Corp. | 3.150% | 5/11/27 | 24,745 | 23,167 | ||
Intel Corp. | 3.750% | 8/5/27 | 7,421 | 7,093 | ||
Intel Corp. | 4.875% | 2/10/28 | 56,483 | 56,118 | ||
Intel Corp. | 1.600% | 8/12/28 | 6,900 | 5,930 | ||
International Business Machines Corp. | 4.000% | 7/27/25 | 18,830 | 18,398 | ||
International Business Machines Corp. | 7.000% | 10/30/25 | 10,578 | 10,949 | ||
International Business Machines Corp. | 4.500% | 2/6/26 | 19,250 | 18,937 | ||
International Business Machines Corp. | 3.450% | 2/19/26 | 9,206 | 8,825 | ||
International Business Machines Corp. | 3.300% | 5/15/26 | 46,160 | 43,999 | ||
International Business Machines Corp. | 3.300% | 1/27/27 | 9,770 | 9,232 | ||
International Business Machines Corp. | 1.700% | 5/15/27 | 36,207 | 32,063 | ||
International Business Machines Corp. | 4.150% | 7/27/27 | 13,107 | 12,663 | ||
International Business Machines Corp. | 6.220% | 8/1/27 | 6,412 | 6,740 | ||
International Business Machines Corp. | 4.500% | 2/6/28 | 30,760 | 30,121 | ||
Intuit Inc. | 0.950% | 7/15/25 | 15,594 | 14,406 | ||
Jabil Inc. | 1.700% | 4/15/26 | 6,281 | 5,670 | ||
Jabil Inc. | 4.250% | 5/15/27 | 7,955 | 7,604 | ||
Juniper Networks Inc. | 1.200% | 12/10/25 | 13,544 | 12,250 | ||
KLA Corp. | 4.650% | 11/1/24 | 8,410 | 8,333 | ||
Kyndryl Holdings Inc. | 2.050% | 10/15/26 | 11,895 | 10,458 | ||
Lam Research Corp. | 3.800% | 3/15/25 | 13,808 | 13,486 | ||
Lam Research Corp. | 3.750% | 3/15/26 | 11,054 | 10,717 | ||
Legrand France SA | 8.500% | 2/15/25 | 8,325 | 8,671 | ||
Leidos Inc. | 3.625% | 5/15/25 | 5,130 | 4,943 | ||
Marvell Technology Inc. | 1.650% | 4/15/26 | 4,121 | 3,740 | ||
Marvell Technology Inc. | 2.450% | 4/15/28 | 12,999 | 11,419 | ||
2 | Marvell Technology Inc. | 4.875% | 6/22/28 | 8,737 | 8,487 | |
Microchip Technology Inc. | 4.250% | 9/1/25 | 25,520 | 24,804 | ||
Micron Technology Inc. | 4.975% | 2/6/26 | 3,475 | 3,424 | ||
Micron Technology Inc. | 4.185% | 2/15/27 | 11,579 | 11,026 | ||
Micron Technology Inc. | 5.375% | 4/15/28 | 20,440 | 20,097 | ||
Microsoft Corp. | 2.700% | 2/12/25 | 21,325 | 20,622 | ||
Microsoft Corp. | 3.125% | 11/3/25 | 56,361 | 54,392 | ||
Microsoft Corp. | 2.400% | 8/8/26 | 79,503 | 74,533 | ||
Microsoft Corp. | 3.300% | 2/6/27 | 77,342 | 74,310 | ||
Moody's Corp. | 3.750% | 3/24/25 | 7,284 | 7,091 | ||
Motorola Solutions Inc. | 4.000% | 9/1/24 | 1,920 | 1,878 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Motorola Solutions Inc. | 4.600% | 2/23/28 | 6,226 | 6,035 | ||
NetApp Inc. | 3.300% | 9/29/24 | 2,214 | 2,151 | ||
NetApp Inc. | 1.875% | 6/22/25 | 7,347 | 6,880 | ||
NetApp Inc. | 2.375% | 6/22/27 | 11,623 | 10,525 | ||
Nokia OYJ | 4.375% | 6/12/27 | 8,950 | 8,441 | ||
NVIDIA Corp. | 3.200% | 9/16/26 | 26,908 | 25,686 | ||
NXP BV | 2.700% | 5/1/25 | 9,325 | 8,879 | ||
NXP BV | 5.350% | 3/1/26 | 4,816 | 4,785 | ||
NXP BV | 3.875% | 6/18/26 | 16,546 | 15,868 | ||
NXP BV | 3.150% | 5/1/27 | 14,739 | 13,651 | ||
NXP BV | 4.400% | 6/1/27 | 8,786 | 8,451 | ||
Oracle Corp. | 2.950% | 11/15/24 | 33,839 | 32,777 | ||
Oracle Corp. | 2.500% | 4/1/25 | 77,502 | 73,809 | ||
Oracle Corp. | 2.950% | 5/15/25 | 52,680 | 50,434 | ||
Oracle Corp. | 1.650% | 3/25/26 | 60,588 | 55,204 | ||
Oracle Corp. | 2.650% | 7/15/26 | 44,790 | 41,591 | ||
Oracle Corp. | 2.800% | 4/1/27 | 37,446 | 34,388 | ||
Oracle Corp. | 3.250% | 11/15/27 | 29,964 | 27,761 | ||
Oracle Corp. | 2.300% | 3/25/28 | 63,190 | 55,605 | ||
3 | Qorvo Inc. | 1.750% | 12/15/24 | 7,658 | 7,200 | |
QUALCOMM Inc. | 3.450% | 5/20/25 | 24,704 | 23,996 | ||
QUALCOMM Inc. | 3.250% | 5/20/27 | 49,227 | 46,480 | ||
Quanta Services Inc. | 0.950% | 10/1/24 | 2,027 | 1,921 | ||
Roper Technologies Inc. | 2.350% | 9/15/24 | 2,791 | 2,696 | ||
Roper Technologies Inc. | 1.000% | 9/15/25 | 20,605 | 18,868 | ||
Roper Technologies Inc. | 3.850% | 12/15/25 | 4,400 | 4,248 | ||
Roper Technologies Inc. | 3.800% | 12/15/26 | 16,944 | 16,170 | ||
S&P Global Inc. | 2.950% | 1/22/27 | 13,800 | 12,922 | ||
S&P Global Inc. | 2.450% | 3/1/27 | 19,831 | 18,289 | ||
S&P Global Inc. | 4.750% | 8/1/28 | 12,200 | 12,075 | ||
Salesforce Inc. | 3.700% | 4/11/28 | 30,765 | 29,458 | ||
Salesforce Inc. | 1.500% | 7/15/28 | 16,167 | 13,905 | ||
Skyworks Solutions Inc. | 1.800% | 6/1/26 | 21,097 | 18,914 | ||
TD SYNNEX Corp. | 1.750% | 8/9/26 | 17,208 | 15,170 | ||
Texas Instruments Inc. | 1.375% | 3/12/25 | 11,973 | 11,297 | ||
Texas Instruments Inc. | 1.125% | 9/15/26 | 5,288 | 4,743 | ||
Texas Instruments Inc. | 4.600% | 2/15/28 | 6,155 | 6,124 | ||
Texas Instruments Inc. | 2.250% | 9/4/29 | 8,687 | 7,563 | ||
TSMC Arizona Corp. | 1.750% | 10/25/26 | 41,048 | 36,930 | ||
TSMC Arizona Corp. | 3.875% | 4/22/27 | 3,710 | 3,568 | ||
Verisk Analytics Inc. | 4.000% | 6/15/25 | 25,662 | 24,958 | ||
VMware Inc. | 4.500% | 5/15/25 | 8,043 | 7,875 | ||
VMware Inc. | 1.400% | 8/15/26 | 28,852 | 25,577 | ||
VMware Inc. | 4.650% | 5/15/27 | 7,560 | 7,346 | ||
VMware Inc. | 3.900% | 8/21/27 | 32,161 | 30,268 | ||
VMware Inc. | 1.800% | 8/15/28 | 4,700 | 3,939 | ||
Western Digital Corp. | 4.750% | 2/15/26 | 47,065 | 44,844 | ||
Workday Inc. | 3.500% | 4/1/27 | 18,367 | 17,347 | ||
3,354,604 | ||||||
Utilities (5.7%) | ||||||
AEP Transmission Co. LLC | 3.100% | 12/1/26 | 8,666 | 8,156 | ||
AES Corp. | 1.375% | 1/15/26 | 3,815 | 3,429 | ||
AES Corp. | 5.450% | 6/1/28 | 16,360 | 16,054 | ||
Alabama Power Co. | 3.750% | 9/1/27 | 12,161 | 11,606 | ||
Ameren Corp. | 2.500% | 9/15/24 | 10,046 | 9,691 | ||
Ameren Corp. | 3.650% | 2/15/26 | 7,795 | 7,455 | ||
Ameren Corp. | 1.950% | 3/15/27 | 9,823 | 8,832 | ||
Ameren Corp. | 1.750% | 3/15/28 | 8,025 | 6,893 | ||
Ameren Illinois Co. | 3.250% | 3/1/25 | 2,222 | 2,155 | ||
2 | American Electric Power Co. Inc. | 1.000% | 11/1/25 | 2,895 | 2,630 | |
American Electric Power Co. Inc. | 5.750% | 11/1/27 | 5,404 | 5,499 | ||
2 | American Electric Power Co. Inc. | 4.300% | 12/1/28 | 5,740 | 5,469 | |
American Electric Power Co. Inc. | 3.875% | 2/15/62 | 15,719 | 12,698 | ||
American Water Capital Corp. | 3.400% | 3/1/25 | 4,141 | 4,011 | ||
American Water Capital Corp. | 2.950% | 9/1/27 | 12,385 | 11,421 | ||
Appalachian Power Co. | 3.400% | 6/1/25 | 9,537 | 9,164 | ||
2 | Appalachian Power Co. | 3.300% | 6/1/27 | 10,486 | 9,751 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Arizona Public Service Co. | 3.150% | 5/15/25 | 2,069 | 1,992 | ||
Atmos Energy Corp. | 3.000% | 6/15/27 | 17,902 | 16,780 | ||
Avangrid Inc. | 3.150% | 12/1/24 | 13,612 | 13,135 | ||
Avangrid Inc. | 3.200% | 4/15/25 | 7,767 | 7,436 | ||
Baltimore Gas & Electric Co. | 2.400% | 8/15/26 | 5,890 | 5,452 | ||
Berkshire Hathaway Energy Co. | 3.500% | 2/1/25 | 6,304 | 6,129 | ||
Berkshire Hathaway Energy Co. | 4.050% | 4/15/25 | 17,954 | 17,569 | ||
Berkshire Hathaway Energy Co. | 3.250% | 4/15/28 | 14,690 | 13,515 | ||
Black Hills Corp. | 3.950% | 1/15/26 | 2,565 | 2,458 | ||
Black Hills Corp. | 3.150% | 1/15/27 | 8,399 | 7,800 | ||
Black Hills Corp. | 5.950% | 3/15/28 | 5,117 | 5,192 | ||
2 | CenterPoint Energy Houston Electric LLC | 2.400% | 9/1/26 | 9,328 | 8,606 | |
2 | CenterPoint Energy Houston Electric LLC | 3.000% | 2/1/27 | 7,698 | 7,186 | |
CenterPoint Energy Inc. | 2.500% | 9/1/24 | 12,360 | 11,932 | ||
CenterPoint Energy Inc. | 1.450% | 6/1/26 | 4,987 | 4,478 | ||
CenterPoint Energy Inc. | 5.250% | 8/10/26 | 2,920 | 2,910 | ||
CenterPoint Energy Resources Corp. | 5.250% | 3/1/28 | 22,410 | 22,374 | ||
Cleco Corporate Holdings LLC | 3.743% | 5/1/26 | 12,773 | 11,997 | ||
CMS Energy Corp. | 3.000% | 5/15/26 | 12,755 | 11,975 | ||
Commonwealth Edison Co. | 2.550% | 6/15/26 | 3,284 | 3,068 | ||
Commonwealth Edison Co. | 3.700% | 8/15/28 | 2,041 | 1,926 | ||
2 | Connecticut Light & Power Co. | 0.750% | 12/1/25 | 7,048 | 6,387 | |
2 | Connecticut Light & Power Co. | 3.200% | 3/15/27 | 19,375 | 18,220 | |
2 | Consolidated Edison Co. of New York Inc. | 3.125% | 11/15/27 | 4,415 | 4,099 | |
Constellation Energy Generation LLC | 3.250% | 6/1/25 | 10,916 | 10,448 | ||
Constellation Energy Generation LLC | 5.600% | 3/1/28 | 8,777 | 8,828 | ||
Consumers Energy Co. | 4.650% | 3/1/28 | 10,495 | 10,397 | ||
Consumers Energy Co. | 4.900% | 2/15/29 | 7,500 | 7,446 | ||
2 | Dominion Energy Inc. | 3.300% | 3/15/25 | 7,222 | 6,973 | |
Dominion Energy Inc. | 3.900% | 10/1/25 | 15,723 | 15,197 | ||
2 | Dominion Energy Inc. | 1.450% | 4/15/26 | 13,277 | 11,976 | |
2 | Dominion Energy Inc. | 2.850% | 8/15/26 | 9,784 | 9,098 | |
2 | Dominion Energy Inc. | 3.600% | 3/15/27 | 6,376 | 6,009 | |
2 | Dominion Energy Inc. | 5.750% | 10/1/54 | 5,920 | 5,689 | |
DTE Electric Co. | 3.375% | 3/1/25 | 8,346 | 8,099 | ||
2 | DTE Electric Co. | 1.900% | 4/1/28 | 4,307 | 3,778 | |
2 | DTE Energy Co. | 2.529% | 10/1/24 | 23,359 | 22,544 | |
DTE Energy Co. | 4.220% | 11/1/24 | 21,965 | 21,545 | ||
2 | DTE Energy Co. | 1.050% | 6/1/25 | 21,587 | 19,905 | |
DTE Energy Co. | 2.850% | 10/1/26 | 10,841 | 10,029 | ||
DTE Energy Co. | 4.875% | 6/1/28 | 12,245 | 11,981 | ||
2 | DTE Energy Co. | 3.400% | 6/15/29 | 8,064 | 7,227 | |
Duke Energy Carolinas LLC | 2.950% | 12/1/26 | 4,684 | 4,414 | ||
Duke Energy Corp. | 0.900% | 9/15/25 | 11,274 | 10,292 | ||
Duke Energy Corp. | 5.000% | 12/8/25 | 7,101 | 7,031 | ||
Duke Energy Corp. | 2.650% | 9/1/26 | 35,609 | 32,945 | ||
Duke Energy Corp. | 5.000% | 12/8/27 | 24,644 | 24,472 | ||
Duke Energy Corp. | 4.300% | 3/15/28 | 5,325 | 5,126 | ||
Duke Energy Corp. | 3.250% | 1/15/82 | 10,375 | 7,671 | ||
Duke Energy Florida LLC | 3.200% | 1/15/27 | 25,164 | 23,792 | ||
Duke Energy Progress LLC | 3.250% | 8/15/25 | 2,444 | 2,356 | ||
2 | Eastern Energy Gas Holdings LLC | 2.500% | 11/15/24 | 5,796 | 5,577 | |
Eastern Energy Gas Holdings LLC | 3.600% | 12/15/24 | 6,899 | 6,702 | ||
Edison International | 3.550% | 11/15/24 | 15,934 | 15,474 | ||
Edison International | 4.950% | 4/15/25 | 6,811 | 6,709 | ||
Edison International | 5.750% | 6/15/27 | 15,182 | 15,218 | ||
Emera US Finance LP | 3.550% | 6/15/26 | 18,991 | 17,955 | ||
Enel Americas SA | 4.000% | 10/25/26 | 10,133 | 9,589 | ||
Enel Chile SA | 4.875% | 6/12/28 | 17,338 | 16,563 | ||
Entergy Arkansas LLC | 3.500% | 4/1/26 | 15,946 | 15,284 | ||
Entergy Corp. | 0.900% | 9/15/25 | 18,614 | 16,907 | ||
Entergy Corp. | 2.950% | 9/1/26 | 18,047 | 16,764 | ||
Entergy Louisiana LLC | 0.950% | 10/1/24 | 11,570 | 10,984 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Entergy Louisiana LLC | 5.590% | 10/1/24 | 5,273 | 5,274 | ||
Entergy Louisiana LLC | 5.400% | 11/1/24 | 7,038 | 7,016 | ||
Entergy Louisiana LLC | 2.400% | 10/1/26 | 3,806 | 3,487 | ||
Evergy Inc. | 2.450% | 9/15/24 | 10,853 | 10,469 | ||
Evergy Kansas Central Inc. | 2.550% | 7/1/26 | 12,590 | 11,721 | ||
Evergy Kansas Central Inc. | 3.100% | 4/1/27 | 4,033 | 3,770 | ||
Evergy Metro Inc. | 3.650% | 8/15/25 | 2,140 | 2,064 | ||
2 | Eversource Energy | 3.800% | 12/1/23 | 6,000 | 5,968 | |
2 | Eversource Energy | 2.900% | 10/1/24 | 4,131 | 4,007 | |
2 | Eversource Energy | 0.800% | 8/15/25 | 8,475 | 7,733 | |
2 | Eversource Energy | 1.400% | 8/15/26 | 1,732 | 1,542 | |
Eversource Energy | 2.900% | 3/1/27 | 19,140 | 17,625 | ||
Eversource Energy | 4.600% | 7/1/27 | 13,819 | 13,447 | ||
2 | Eversource Energy | 3.300% | 1/15/28 | 7,027 | 6,466 | |
Eversource Energy | 5.450% | 3/1/28 | 38,050 | 38,187 | ||
2 | Exelon Corp. | 3.950% | 6/15/25 | 19,338 | 18,766 | |
Exelon Corp. | 3.400% | 4/15/26 | 8,051 | 7,655 | ||
Exelon Corp. | 2.750% | 3/15/27 | 18,594 | 17,072 | ||
Exelon Corp. | 5.150% | 3/15/28 | 22,918 | 22,767 | ||
Florida Power & Light Co. | 2.850% | 4/1/25 | 11,691 | 11,245 | ||
Florida Power & Light Co. | 3.125% | 12/1/25 | 10,599 | 10,152 | ||
Florida Power & Light Co. | 4.450% | 5/15/26 | 6,890 | 6,782 | ||
Florida Power & Light Co. | 5.050% | 4/1/28 | 22,495 | 22,618 | ||
Florida Power & Light Co. | 4.400% | 5/15/28 | 25,315 | 24,765 | ||
Fortis Inc. | 3.055% | 10/4/26 | 23,788 | 22,081 | ||
2 | Georgia Power Co. | 2.200% | 9/15/24 | 5,761 | 5,548 | |
Georgia Power Co. | 3.250% | 4/1/26 | 9,545 | 9,059 | ||
Georgia Power Co. | 3.250% | 3/30/27 | 11,491 | 10,706 | ||
Georgia Power Co. | 4.650% | 5/16/28 | 25,770 | 25,139 | ||
2 | Gulf Power Co. | 3.300% | 5/30/27 | 10,733 | 10,074 | |
Iberdrola International BV | 5.810% | 3/15/25 | 9,111 | 9,129 | ||
Interstate Power & Light Co. | 3.250% | 12/1/24 | 8,942 | 8,684 | ||
IPALCO Enterprises Inc. | 3.700% | 9/1/24 | 8,388 | 8,166 | ||
ITC Holdings Corp. | 3.250% | 6/30/26 | 13,284 | 12,544 | ||
ITC Holdings Corp. | 3.350% | 11/15/27 | 9,190 | 8,535 | ||
2 | Louisville Gas & Electric Co. | 3.300% | 10/1/25 | 3,566 | 3,427 | |
MidAmerican Energy Co. | 3.500% | 10/15/24 | 8,059 | 7,875 | ||
MidAmerican Energy Co. | 3.100% | 5/1/27 | 13,153 | 12,250 | ||
Mississippi Power Co. | 3.950% | 3/30/28 | 5,375 | 5,061 | ||
National Fuel Gas Co. | 5.200% | 7/15/25 | 2,342 | 2,302 | ||
National Fuel Gas Co. | 5.500% | 1/15/26 | 17,944 | 17,739 | ||
National Fuel Gas Co. | 5.500% | 10/1/26 | 2,255 | 2,235 | ||
National Grid plc | 5.602% | 6/12/28 | 10,766 | 10,792 | ||
2 | National Rural Utilities Cooperative Finance Corp. | 1.000% | 10/18/24 | 4,346 | 4,126 | |
National Rural Utilities Cooperative Finance Corp. | 2.850% | 1/27/25 | 13,086 | 12,636 | ||
2 | National Rural Utilities Cooperative Finance Corp. | 3.450% | 6/15/25 | 8,364 | 8,067 | |
National Rural Utilities Cooperative Finance Corp. | 5.450% | 10/30/25 | 11,743 | 11,777 | ||
2 | National Rural Utilities Cooperative Finance Corp. | 3.250% | 11/1/25 | 6,718 | 6,429 | |
2 | National Rural Utilities Cooperative Finance Corp. | 1.000% | 6/15/26 | 5,808 | 5,189 | |
National Rural Utilities Cooperative Finance Corp. | 3.050% | 4/25/27 | 12,594 | 11,745 | ||
National Rural Utilities Cooperative Finance Corp. | 3.400% | 2/7/28 | 13,295 | 12,398 | ||
National Rural Utilities Cooperative Finance Corp. | 4.800% | 3/15/28 | 13,884 | 13,730 | ||
2 | National Rural Utilities Cooperative Finance Corp. | 5.050% | 9/15/28 | 9,675 | 9,657 | |
2 | National Rural Utilities Cooperative Finance Corp. | 5.250% | 4/20/46 | 4,245 | 4,033 | |
NextEra Energy Capital Holdings Inc. | 4.255% | 9/1/24 | 27,289 | 26,840 | ||
NextEra Energy Capital Holdings Inc. | 6.051% | 3/1/25 | 15,252 | 15,315 | ||
NextEra Energy Capital Holdings Inc. | 4.450% | 6/20/25 | 13,391 | 13,115 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
NextEra Energy Capital Holdings Inc. | 5.749% | 9/1/25 | 24,585 | 24,656 | ||
NextEra Energy Capital Holdings Inc. | 1.875% | 1/15/27 | 15,012 | 13,421 | ||
NextEra Energy Capital Holdings Inc. | 3.550% | 5/1/27 | 37,503 | 35,347 | ||
NextEra Energy Capital Holdings Inc. | 4.625% | 7/15/27 | 18,350 | 17,891 | ||
NextEra Energy Capital Holdings Inc. | 4.900% | 2/28/28 | 35,605 | 35,021 | ||
NextEra Energy Capital Holdings Inc. | 1.900% | 6/15/28 | 27,459 | 23,597 | ||
NextEra Energy Capital Holdings Inc. | 3.800% | 3/15/82 | 19,280 | 16,312 | ||
NiSource Inc. | 0.950% | 8/15/25 | 34,868 | 31,954 | ||
NiSource Inc. | 3.490% | 5/15/27 | 24,254 | 22,761 | ||
NiSource Inc. | 5.250% | 3/30/28 | 17,187 | 17,123 | ||
NSTAR Electric Co. | 3.200% | 5/15/27 | 15,205 | 14,245 | ||
Oncor Electric Delivery Co. LLC | 2.950% | 4/1/25 | 7,900 | 7,585 | ||
Oncor Electric Delivery Co. LLC | 0.550% | 10/1/25 | 8,417 | 7,656 | ||
3 | Oncor Electric Delivery Co. LLC | 4.300% | 5/15/28 | 12,536 | 12,155 | |
Pacific Gas & Electric Co. | 4.950% | 6/8/25 | 5,315 | 5,201 | ||
Pacific Gas & Electric Co. | 3.500% | 6/15/25 | 15,889 | 15,136 | ||
Pacific Gas & Electric Co. | 3.450% | 7/1/25 | 27,086 | 25,746 | ||
Pacific Gas & Electric Co. | 3.150% | 1/1/26 | 43,817 | 40,792 | ||
Pacific Gas & Electric Co. | 2.100% | 8/1/27 | 20,581 | 17,727 | ||
Pacific Gas & Electric Co. | 3.300% | 12/1/27 | 12,180 | 10,860 | ||
Pacific Gas & Electric Co. | 3.750% | 7/1/28 | 20,305 | 18,248 | ||
Pacific Gas & Electric Co. | 6.100% | 1/15/29 | 10,000 | 9,881 | ||
PECO Energy Co. | 3.150% | 10/15/25 | 2,580 | 2,474 | ||
Pinnacle West Capital Corp. | 1.300% | 6/15/25 | 5,064 | 4,681 | ||
PPL Capital Funding Inc. | 3.100% | 5/15/26 | 16,218 | 15,317 | ||
2 | Public Service Electric & Gas Co. | 3.000% | 5/15/25 | 2,383 | 2,293 | |
2 | Public Service Electric & Gas Co. | 0.950% | 3/15/26 | 5,006 | 4,545 | |
2 | Public Service Electric & Gas Co. | 2.250% | 9/15/26 | 4,220 | 3,890 | |
2 | Public Service Electric & Gas Co. | 3.000% | 5/15/27 | 8,021 | 7,516 | |
2 | Public Service Electric & Gas Co. | 3.700% | 5/1/28 | 2,753 | 2,613 | |
Public Service Enterprise Group Inc. | 0.800% | 8/15/25 | 5,016 | 4,580 | ||
Public Service Enterprise Group Inc. | 5.850% | 11/15/27 | 14,205 | 14,476 | ||
Puget Energy Inc. | 3.650% | 5/15/25 | 5,910 | 5,673 | ||
Puget Energy Inc. | 2.379% | 6/15/28 | 7,017 | 6,057 | ||
San Diego Gas & Electric Co. | 2.500% | 5/15/26 | 4,380 | 4,077 | ||
San Diego Gas & Electric Co. | 4.950% | 8/15/28 | 6,000 | 5,950 | ||
Sempra | 3.300% | 4/1/25 | 14,670 | 14,134 | ||
Sempra | 3.250% | 6/15/27 | 21,011 | 19,413 | ||
Sempra | 3.400% | 2/1/28 | 9,725 | 8,999 | ||
Sempra | 4.125% | 4/1/52 | 16,516 | 13,372 | ||
Sierra Pacific Power Co. | 2.600% | 5/1/26 | 2,970 | 2,764 | ||
2 | Southern California Edison Co. | 3.700% | 8/1/25 | 24,851 | 24,018 | |
2 | Southern California Edison Co. | 1.200% | 2/1/26 | 8,905 | 8,090 | |
2 | Southern California Edison Co. | 4.700% | 6/1/27 | 8,830 | 8,681 | |
Southern California Edison Co. | 5.850% | 11/1/27 | 19,167 | 19,629 | ||
Southern California Edison Co. | 5.300% | 3/1/28 | 21,510 | 21,603 | ||
Southern California Gas Co. | 3.150% | 9/15/24 | 3,071 | 2,996 | ||
Southern California Gas Co. | 3.200% | 6/15/25 | 5,668 | 5,455 | ||
2 | Southern California Gas Co. | 2.600% | 6/15/26 | 4,233 | 3,951 | |
Southern California Gas Co. | 2.950% | 4/15/27 | 14,407 | 13,386 | ||
Southern Co. | 5.150% | 10/6/25 | 5,191 | 5,163 | ||
Southern Co. | 3.250% | 7/1/26 | 29,448 | 27,859 | ||
Southern Co. | 4.850% | 6/15/28 | 13,720 | 13,436 | ||
2 | Southern Co. | 4.000% | 1/15/51 | 23,378 | 21,721 | |
2 | Southern Co. | 3.750% | 9/15/51 | 26,632 | 22,984 | |
Southern Co. Gas Capital Corp. | 3.250% | 6/15/26 | 8,860 | 8,358 | ||
Southern Power Co. | 4.150% | 12/1/25 | 20,334 | 19,796 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Southern Power Co. | 0.900% | 1/15/26 | 3,753 | 3,385 | ||
Southwest Gas Corp. | 5.800% | 12/1/27 | 5,315 | 5,368 | ||
Southwest Gas Corp. | 5.450% | 3/23/28 | 12,420 | 12,380 | ||
2 | Southwestern Electric Power Co. | 1.650% | 3/15/26 | 9,939 | 9,045 | |
2 | Southwestern Electric Power Co. | 2.750% | 10/1/26 | 8,770 | 8,095 | |
2 | Southwestern Electric Power Co. | 4.100% | 9/15/28 | 10,000 | 9,468 | |
Tucson Electric Power Co. | 3.050% | 3/15/25 | 5,083 | 4,898 | ||
Union Electric Co. | 2.950% | 6/15/27 | 12,801 | 11,903 | ||
2 | Virginia Electric & Power Co. | 3.100% | 5/15/25 | 4,178 | 4,010 | |
2 | Virginia Electric & Power Co. | 3.150% | 1/15/26 | 33,003 | 31,421 | |
2 | Virginia Electric & Power Co. | 2.950% | 11/15/26 | 2,024 | 1,887 | |
2 | Virginia Electric & Power Co. | 3.500% | 3/15/27 | 15,578 | 14,721 | |
2 | Virginia Electric & Power Co. | 3.750% | 5/15/27 | 5,870 | 5,603 | |
2 | Virginia Electric & Power Co. | 3.800% | 4/1/28 | 7,096 | 6,719 | |
2 | Virginia Electric & Power Co. | 2.875% | 7/15/29 | 5,000 | 4,440 | |
WEC Energy Group Inc. | 3.550% | 6/15/25 | 3,083 | 2,944 | ||
WEC Energy Group Inc. | 5.000% | 9/27/25 | 2,446 | 2,423 | ||
WEC Energy Group Inc. | 4.750% | 1/9/26 | 8,338 | 8,227 | ||
WEC Energy Group Inc. | 5.150% | 10/1/27 | 16,291 | 16,241 | ||
WEC Energy Group Inc. | 4.750% | 1/15/28 | 13,850 | 13,566 | ||
Wisconsin Electric Power Co. | 2.050% | 12/15/24 | 10,122 | 9,674 | ||
Wisconsin Power & Light Co. | 3.050% | 10/15/27 | 5,564 | 5,203 | ||
Wisconsin Public Service Corp. | 5.350% | 11/10/25 | 5,535 | 5,540 | ||
Xcel Energy Inc. | 3.300% | 6/1/25 | 14,518 | 13,956 | ||
Xcel Energy Inc. | 3.350% | 12/1/26 | 12,362 | 11,585 | ||
Xcel Energy Inc. | 1.750% | 3/15/27 | 14,694 | 13,027 | ||
Xcel Energy Inc. | 4.000% | 6/15/28 | 5,656 | 5,359 | ||
2,477,878 | ||||||
Total Corporate Bonds (Cost $44,686,260) | 42,580,503 | |||||
Shares | ||||||
Temporary Cash Investments (0.3%) | ||||||
Money Market Fund (0.3%) | ||||||
5 | Vanguard Market Liquidity Fund (Cost $120,850) | 5.384% | 1,208,656 | 120,853 | ||
Total Investments (99.1%) (Cost $44,996,120) | 42,890,367 | |||||
Other Assets and Liabilities—Net (0.9%) | 406,685 | |||||
Net Assets (100%) | 43,297,052 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | Securities with a value of $3,851,000 have been segregated as initial margin for open centrally cleared swap contracts. |
2 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
3 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2023, the aggregate value was $208,099,000, representing 0.5% of net assets. |
4 | Securities with a value of $4,136,000 have been segregated as initial margin for open futures contracts. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
DAC—Designated Activity Company. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
2-Year U.S. Treasury Note | December 2023 | 369 | 75,204 | 179 |
Centrally Cleared Credit Default Swaps | ||||||
Reference Entity | Termination Date | Notional Amount (000) | Periodic Premium Received (Paid)1 (%) | Value ($000) | Unrealized Appreciation (Depreciation) ($000) | |
Credit Protection Purchased | ||||||
CDX-NA-IG-S40-V1 | 6/20/28 | USD | 300,000 | (1.000) | (5,247) | (520) |
1 Periodic premium received/paid quarterly. |
USD—U.S. dollar. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $44,875,270) | 42,769,514 |
Affiliated Issuers (Cost $120,850) | 120,853 |
Total Investments in Securities | 42,890,367 |
Investment in Vanguard | 1,417 |
Cash | 236 |
Receivables for Investment Securities Sold | 482,983 |
Receivables for Accrued Income | 428,769 |
Receivables for Capital Shares Issued | 5,217 |
Variation Margin Receivable—Centrally Cleared Swap Contracts | 116 |
Total Assets | 43,809,105 |
Liabilities | |
Payables for Investment Securities Purchased | 502,243 |
Payables for Capital Shares Redeemed | 6,430 |
Payables for Distributions | 2,252 |
Payables to Vanguard | 814 |
Variation Margin Payable—Futures Contracts | 314 |
Total Liabilities | 512,053 |
Net Assets | 43,297,052 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 46,103,504 |
Total Distributable Earnings (Loss) | (2,806,452) |
Net Assets | 43,297,052 |
ETF Shares—Net Assets | |
Applicable to 485,688,458 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 36,793,055 |
Net Asset Value Per Share—ETF Shares | $75.75 |
Admiral Shares—Net Assets | |
Applicable to 197,327,265 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,059,942 |
Net Asset Value Per Share—Admiral Shares | $20.57 |
Institutional Shares—Net Assets | |
Applicable to 97,039,421 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,444,055 |
Net Asset Value Per Share—Institutional Shares | $25.19 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 1,275,628 |
Total Income | 1,275,628 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,006 |
Management and Administrative—ETF Shares | 11,295 |
Management and Administrative—Admiral Shares | 2,610 |
Management and Administrative—Institutional Shares | 1,017 |
Marketing and Distribution—ETF Shares | 2,160 |
Marketing and Distribution—Admiral Shares | 236 |
Marketing and Distribution—Institutional Shares | 93 |
Custodian Fees | 172 |
Auditing Fees | 56 |
Shareholders’ Reports—ETF Shares | 946 |
Shareholders’ Reports—Admiral Shares | 46 |
Shareholders’ Reports—Institutional Shares | 1 |
Trustees’ Fees and Expenses | 23 |
Other Expenses | 37 |
Total Expenses | 19,698 |
Expenses Paid Indirectly | (76) |
Net Expenses | 19,622 |
Net Investment Income | 1,256,006 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | (1,297,774) |
Futures Contracts | (178) |
Swap Contracts | 1,149 |
Realized Net Gain (Loss) | (1,296,803) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 948,696 |
Futures Contracts | 131 |
Swap Contracts | (520) |
Change in Unrealized Appreciation (Depreciation) | 948,307 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 907,510 |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $5,100,000, $25,000, less than $1,000, and ($3,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes ($689,715,000) of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 1,256,006 | 812,838 |
Realized Net Gain (Loss) | (1,296,803) | (170,013) |
Change in Unrealized Appreciation (Depreciation) | 948,307 | (3,795,036) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 907,510 | (3,152,211) |
Distributions | ||
ETF Shares | (1,047,846) | (762,716) |
Admiral Shares | (117,989) | (93,551) |
Institutional Shares | (66,109) | (41,778) |
Total Distributions | (1,231,944) | (898,045) |
Capital Share Transactions | ||
ETF Shares | (6,648,044) | 5,597,297 |
Admiral Shares | (555,646) | (365,977) |
Institutional Shares | 216,450 | 166,453 |
Net Increase (Decrease) from Capital Share Transactions | (6,987,240) | 5,397,773 |
Total Increase (Decrease) | (7,311,674) | 1,347,517 |
Net Assets | ||
Beginning of Period | 50,608,726 | 49,261,209 |
End of Period | 43,297,052 | 50,608,726 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $76.14 | $82.67 | $82.95 | $81.18 | $78.32 |
Investment Operations | |||||
Net Investment Income1 | 2.094 | 1.319 | 1.433 | 2.127 | 2.311 |
Net Realized and Unrealized Gain (Loss) on Investments | (.441) | (6.388) | (.250) | 1.815 | 2.826 |
Total from Investment Operations | 1.653 | (5.069) | 1.183 | 3.942 | 5.137 |
Distributions | |||||
Dividends from Net Investment Income | (2.043) | (1.279) | (1.463) | (2.172) | (2.277) |
Distributions from Realized Capital Gains | — | (.182) | — | — | — |
Total Distributions | (2.043) | (1.461) | (1.463) | (2.172) | (2.277) |
Net Asset Value, End of Period | $75.75 | $76.14 | $82.67 | $82.95 | $81.18 |
Total Return | 2.23% | -6.19% | 1.44% | 4.95% | 6.68% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $36,793 | $43,723 | $41,569 | $31,797 | $24,537 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04%2 | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.78% | 1.67% | 1.73% | 2.62% | 2.92% |
Portfolio Turnover Rate3 | 63% | 50% | 42% | 56% | 51% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $20.70 | $22.49 | $22.55 | $22.06 | $21.28 |
Investment Operations | |||||
Net Investment Income1 | .566 | .351 | .385 | .578 | .625 |
Net Realized and Unrealized Gain (Loss) on Investments | (.126) | (1.741) | (.063) | .485 | .777 |
Total from Investment Operations | .440 | (1.390) | .322 | 1.063 | 1.402 |
Distributions | |||||
Dividends from Net Investment Income | (.570) | (.350) | (.382) | (.573) | (.622) |
Distributions from Realized Capital Gains | — | (.050) | — | — | — |
Total Distributions | (.570) | (.400) | (.382) | (.573) | (.622) |
Net Asset Value, End of Period | $20.57 | $20.70 | $22.49 | $22.55 | $22.06 |
Total Return2 | 2.17% | -6.24% | 1.44% | 4.90% | 6.70% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $4,060 | $4,647 | $5,435 | $4,703 | $4,312 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.75% | 1.63% | 1.71% | 2.61% | 2.90% |
Portfolio Turnover Rate4 | 63% | 50% | 42% | 56% | 51% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $25.34 | $27.53 | $27.61 | $27.00 | $26.06 |
Investment Operations | |||||
Net Investment Income1 | .702 | .436 | .473 | .713 | .768 |
Net Realized and Unrealized Gain (Loss) on Investments | (.149) | (2.131) | (.080) | .604 | .939 |
Total from Investment Operations | .553 | (1.695) | .393 | 1.317 | 1.707 |
Distributions | |||||
Dividends from Net Investment Income | (.703) | (.434) | (.473) | (.707) | (.767) |
Distributions from Realized Capital Gains | — | (.061) | — | — | — |
Total Distributions | (.703) | (.495) | (.473) | (.707) | (.767) |
Net Asset Value, End of Period | $25.19 | $25.34 | $27.53 | $27.61 | $27.00 |
Total Return | 2.22% | -6.21% | 1.44% | 4.96% | 6.66% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $2,444 | $2,239 | $2,258 | $1,661 | $1,633 |
Ratio of Total Expenses to Average Net Assets | 0.05%2 | 0.05%2 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.79% | 1.65% | 1.72% | 2.63% | 2.92% |
Portfolio Turnover Rate3 | 63% | 50% | 42% | 56% | 51% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 189,011 | — | 189,011 |
Corporate Bonds | — | 42,580,503 | — | 42,580,503 |
Temporary Cash Investments | 120,853 | — | — | 120,853 |
Total | 120,853 | 42,769,514 | — | 42,890,367 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 179 | — | — | 179 |
Liabilities | ||||
Swap Contracts | 5201 | — | — | 520 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Statement of Assets and Liabilities | Interest Rate Contracts ($000) | Credit Contracts ($000) | Total ($000) |
Unrealized Appreciation—Futures Contracts1 | 179 | — | 179 |
Total Assets | 179 | — | 179 |
Unrealized Depreciation—Centrally Cleared Swap Contracts1 | — | 520 | 520 |
Total Liabilities | — | 520 | 520 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized Net Gain (Loss) on Derivatives | Interest Rate Contracts ($000) | Credit Contracts ($000) | Total ($000) |
Futures Contracts | (178) | — | (178) |
Swap Contracts | — | 1,149 | 1,149 |
Realized Net Gain (Loss) on Derivatives | (178) | 1,149 | 971 |
Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
Futures Contracts | 131 | — | 131 |
Swap Contracts | — | (520) | (520) |
Change in Unrealized Appreciation (Depreciation) on Derivatives | 131 | (520) | (389) |
Amount ($000) | |
Paid-in Capital | (689,732) |
Total Distributable Earnings (Loss) | 689,732 |
Amount ($000) | |
Undistributed Ordinary Income | 105,668 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (2,113,630) |
Capital Loss Carryforwards | (796,238) |
Qualified Late-Year Losses | — |
Other Temporary Differences | (2,252) |
Total | (2,806,452) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 1,231,944 | 787,576 |
Long-Term Capital Gains | — | 110,469 |
Total | 1,231,944 | 898,045 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 45,003,477 |
Gross Unrealized Appreciation | 30,858 |
Gross Unrealized Depreciation | (2,144,488) |
Net Unrealized Appreciation (Depreciation) | (2,113,630) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 12,515,077 | 165,960 | 16,731,847 | 212,128 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (19,163,121) | (254,500) | (11,134,550) | (140,700) | |
Net Increase (Decrease)—ETF Shares | (6,648,044) | (88,540) | 5,597,297 | 71,428 |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 1,301,379 | 63,432 | 1,793,345 | 83,336 | |
Issued in Lieu of Cash Distributions | 96,193 | 4,684 | 75,187 | 3,492 | |
Redeemed | (1,953,218) | (95,281) | (2,234,509) | (104,008) | |
Net Increase (Decrease)—Admiral Shares | (555,646) | (27,165) | (365,977) | (17,180) | |
Institutional Shares | |||||
Issued | 811,976 | 32,436 | 623,048 | 23,568 | |
Issued in Lieu of Cash Distributions | 64,112 | 2,550 | 39,344 | 1,494 | |
Redeemed | (659,638) | (26,302) | (495,939) | (18,721) | |
Net Increase (Decrease)—Institutional Shares | 216,450 | 8,684 | 166,453 | 6,341 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Intermediate-Term Corporate Bond Index Fund ETF Shares Net Asset Value | 1.55% | 1.75% | 2.80% | $13,184 | |
Intermediate-Term Corporate Bond Index Fund ETF Shares Market Price | 1.82 | 1.72 | 2.78 | 13,156 | |
Bloomberg U.S. 5–10 Year Corporate Bond Index | 1.64 | 1.82 | 2.87 | 13,273 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Intermediate-Term Corporate Bond Index Fund Admiral Shares | 1.30% | 1.68% | 2.77% | $13,145 | |
Bloomberg U.S. 5–10 Year Corporate Bond Index | 1.64 | 1.82 | 2.87 | 13,273 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Intermediate-Term Corporate Bond Index Fund Institutional Shares | 1.28% | 1.69% | 2.79% | $6,583,508 | |
Bloomberg U.S. 5–10 Year Corporate Bond Index | 1.64 | 1.82 | 2.87 | 6,636,372 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 5,805,239 |
Cumulative Returns of ETF Shares: August 31, 2013, Through August 31, 2023 | |||
One Year | Five Years | Ten Years | |
Intermediate-Term Corporate Bond Index Fund ETF Shares Market Price | 1.82% | 8.91% | 31.56% |
Intermediate-Term Corporate Bond Index Fund ETF Shares Net Asset Value | 1.55 | 9.06 | 31.84 |
Bloomberg U.S. 5–10 Year Corporate Bond Index | 1.64 | 9.45 | 32.73 |
Corporate Bonds – Communications | 8.5% |
Corporate Bonds – Consumer Discretionary | 6.0 |
Corporate Bonds – Consumer Staples | 7.1 |
Corporate Bonds – Energy | 6.6 |
Corporate Bonds – Financials | 30.2 |
Corporate Bonds – Health Care | 9.6 |
Corporate Bonds – Industrials | 6.2 |
Corporate Bonds – Materials | 3.1 |
Corporate Bonds – Real Estate | 6.2 |
Corporate Bonds – Technology | 8.3 |
Corporate Bonds – Utilities | 8.2 |
U.S. Government and Agency Obligations | 0.0 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (0.1%) | ||||||
U.S. Government Securities (0.1%) | ||||||
United States Treasury Note/Bond (Cost $19,335) | 3.875% | 8/15/33 | 19,690 | 19,336 | ||
Corporate Bonds (98.5%) | ||||||
Communications (8.4%) | ||||||
Activision Blizzard Inc. | 1.350% | 9/15/30 | 14,890 | 11,890 | ||
Alphabet Inc. | 1.100% | 8/15/30 | 51,875 | 41,553 | ||
America Movil SAB de CV | 3.625% | 4/22/29 | 14,357 | 13,144 | ||
America Movil SAB de CV | 2.875% | 5/7/30 | 34,573 | 29,825 | ||
America Movil SAB de CV | 4.700% | 7/21/32 | 17,105 | 16,288 | ||
AT&T Inc. | 4.350% | 3/1/29 | 72,154 | 68,251 | ||
1 | AT&T Inc. | 4.300% | 2/15/30 | 78,341 | 73,014 | |
AT&T Inc. | 2.750% | 6/1/31 | 73,574 | 60,689 | ||
AT&T Inc. | 2.250% | 2/1/32 | 62,737 | 48,930 | ||
Baidu Inc. | 4.875% | 11/14/28 | 14,273 | 13,923 | ||
Baidu Inc. | 3.425% | 4/7/30 | 10,702 | 9,413 | ||
Baidu Inc. | 2.375% | 10/9/30 | 4,351 | 3,530 | ||
Baidu Inc. | 2.375% | 8/23/31 | 17,593 | 13,947 | ||
Bell Telephone Co. of Canada or Bell Canada | 5.100% | 5/11/33 | 30,711 | 29,622 | ||
Booking Holdings Inc. | 4.625% | 4/13/30 | 37,391 | 36,553 | ||
British Telecommunications plc | 5.125% | 12/4/28 | 5,803 | 5,680 | ||
British Telecommunications plc | 9.625% | 12/15/30 | 59,157 | 72,035 | ||
Charter Communications Operating LLC | 2.250% | 1/15/29 | 29,765 | 24,694 | ||
Charter Communications Operating LLC | 5.050% | 3/30/29 | 34,024 | 32,366 | ||
Charter Communications Operating LLC | 2.800% | 4/1/31 | 38,323 | 30,854 | ||
Charter Communications Operating LLC | 2.300% | 2/1/32 | 24,750 | 18,659 | ||
Charter Communications Operating LLC | 4.400% | 4/1/33 | 23,961 | 21,090 | ||
Comcast Corp. | 4.150% | 10/15/28 | 90,144 | 86,876 | ||
Comcast Corp. | 4.550% | 1/15/29 | 30,456 | 29,844 | ||
Comcast Corp. | 2.650% | 2/1/30 | 50,213 | 43,642 | ||
Comcast Corp. | 3.400% | 4/1/30 | 42,556 | 38,745 | ||
Comcast Corp. | 4.250% | 10/15/30 | 45,753 | 43,515 | ||
Comcast Corp. | 1.950% | 1/15/31 | 31,595 | 25,545 | ||
Comcast Corp. | 1.500% | 2/15/31 | 44,685 | 34,944 | ||
Comcast Corp. | 5.500% | 11/15/32 | 34,387 | 35,252 | ||
Comcast Corp. | 4.250% | 1/15/33 | 36,223 | 34,000 | ||
Comcast Corp. | 4.650% | 2/15/33 | 27,028 | 26,367 | ||
Comcast Corp. | 4.800% | 5/15/33 | 25,177 | 24,616 | ||
Deutsche Telekom International Finance BV | 8.750% | 6/15/30 | 90,524 | 106,464 | ||
Deutsche Telekom International Finance BV | 9.250% | 6/1/32 | 9,467 | 11,905 | ||
Discovery Communications LLC | 4.125% | 5/15/29 | 15,523 | 14,249 | ||
Discovery Communications LLC | 3.625% | 5/15/30 | 34,034 | 29,870 | ||
Electronic Arts Inc. | 1.850% | 2/15/31 | 13,407 | 10,721 | ||
Expedia Group Inc. | 3.250% | 2/15/30 | 25,508 | 22,209 | ||
Expedia Group Inc. | 2.950% | 3/15/31 | 16,228 | 13,571 | ||
FactSet Research Systems Inc. | 3.450% | 3/1/32 | 12,345 | 10,451 | ||
Fox Corp. | 4.709% | 1/25/29 | 49,451 | 47,667 | ||
Fox Corp. | 3.500% | 4/8/30 | 15,332 | 13,695 | ||
Grupo Televisa SAB | 8.500% | 3/11/32 | 4,505 | 5,235 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Interpublic Group of Cos. Inc. | 4.650% | 10/1/28 | 4,333 | 4,146 | ||
Interpublic Group of Cos. Inc. | 4.750% | 3/30/30 | 20,896 | 19,926 | ||
Interpublic Group of Cos. Inc. | 2.400% | 3/1/31 | 6,837 | 5,521 | ||
Koninklijke KPN NV | 8.375% | 10/1/30 | 14,434 | 16,418 | ||
Meta Platforms Inc. | 4.800% | 5/15/30 | 26,508 | 26,376 | ||
Meta Platforms Inc. | 3.850% | 8/15/32 | 75,885 | 69,635 | ||
Meta Platforms Inc. | 4.950% | 5/15/33 | 44,955 | 44,698 | ||
Netflix Inc. | 5.875% | 11/15/28 | 37,255 | 38,310 | ||
Netflix Inc. | 6.375% | 5/15/29 | 27,647 | 29,097 | ||
Omnicom Group Inc. | 2.450% | 4/30/30 | 15,560 | 12,897 | ||
Omnicom Group Inc. | 4.200% | 6/1/30 | 20,089 | 18,546 | ||
Omnicom Group Inc. | 2.600% | 8/1/31 | 6,648 | 5,439 | ||
Orange SA | 9.000% | 3/1/31 | 56,628 | 68,656 | ||
Paramount Global | 4.200% | 6/1/29 | 13,517 | 12,077 | ||
Paramount Global | 7.875% | 7/30/30 | 22,477 | 23,780 | ||
Paramount Global | 4.950% | 1/15/31 | 31,437 | 28,078 | ||
Paramount Global | 4.200% | 5/19/32 | 23,723 | 19,735 | ||
Paramount Global | 5.500% | 5/15/33 | 11,610 | 10,506 | ||
Rogers Communications Inc. | 3.800% | 3/15/32 | 46,220 | 39,507 | ||
Sprint Capital Corp. | 6.875% | 11/15/28 | 60,785 | 64,223 | ||
Sprint Capital Corp. | 8.750% | 3/15/32 | 48,579 | 57,883 | ||
Take-Two Interactive Software Inc. | 4.000% | 4/14/32 | 14,630 | 13,136 | ||
Telefonica Europe BV | 8.250% | 9/15/30 | 34,798 | 39,677 | ||
TELUS Corp. | 3.400% | 5/13/32 | 22,583 | 18,991 | ||
Tencent Music Entertainment Group | 2.000% | 9/3/30 | 12,386 | 9,640 | ||
Time Warner Cable Enterprises LLC | 8.375% | 7/15/33 | 12,927 | 14,368 | ||
T-Mobile USA Inc. | 2.625% | 2/15/29 | 7,201 | 6,239 | ||
T-Mobile USA Inc. | 2.400% | 3/15/29 | 14,641 | 12,593 | ||
T-Mobile USA Inc. | 3.375% | 4/15/29 | 51,625 | 46,301 | ||
T-Mobile USA Inc. | 3.875% | 4/15/30 | 187,438 | 170,710 | ||
T-Mobile USA Inc. | 2.550% | 2/15/31 | 56,823 | 46,806 | ||
T-Mobile USA Inc. | 2.875% | 2/15/31 | 29,261 | 24,625 | ||
T-Mobile USA Inc. | 3.500% | 4/15/31 | 72,104 | 62,958 | ||
T-Mobile USA Inc. | 2.250% | 11/15/31 | 7,587 | 6,018 | ||
T-Mobile USA Inc. | 2.700% | 3/15/32 | 40,716 | 33,092 | ||
T-Mobile USA Inc. | 5.200% | 1/15/33 | 32,842 | 32,185 | ||
T-Mobile USA Inc. | 5.050% | 7/15/33 | 55,708 | 53,758 | ||
1 | TWDC Enterprises 18 Corp. | 7.000% | 3/1/32 | 8,579 | 9,621 | |
VeriSign Inc. | 2.700% | 6/15/31 | 20,380 | 16,694 | ||
Verizon Communications Inc. | 4.329% | 9/21/28 | 95,191 | 91,142 | ||
Verizon Communications Inc. | 3.875% | 2/8/29 | 24,235 | 22,622 | ||
Verizon Communications Inc. | 4.016% | 12/3/29 | 111,055 | 103,135 | ||
Verizon Communications Inc. | 3.150% | 3/22/30 | 29,281 | 25,661 | ||
Verizon Communications Inc. | 1.500% | 9/18/30 | 9,811 | 7,657 | ||
Verizon Communications Inc. | 1.680% | 10/30/30 | 34,237 | 26,784 | ||
Verizon Communications Inc. | 7.750% | 12/1/30 | 17,629 | 20,150 | ||
Verizon Communications Inc. | 1.750% | 1/20/31 | 52,757 | 41,032 | ||
Verizon Communications Inc. | 2.550% | 3/21/31 | 94,830 | 78,040 | ||
Verizon Communications Inc. | 2.355% | 3/15/32 | 112,551 | 89,010 | ||
Verizon Communications Inc. | 5.050% | 5/9/33 | 27,348 | 26,523 | ||
Verizon Communications Inc. | 4.500% | 8/10/33 | 51,000 | 47,121 | ||
Vodafone Group plc | 7.875% | 2/15/30 | 17,863 | 20,120 | ||
Vodafone Group plc | 6.250% | 11/30/32 | 12,740 | 13,332 | ||
Walt Disney Co. | 2.000% | 9/1/29 | 44,375 | 37,631 | ||
Walt Disney Co. | 3.800% | 3/22/30 | 25,916 | 24,236 | ||
Walt Disney Co. | 2.650% | 1/13/31 | 56,924 | 48,740 | ||
Walt Disney Co. | 6.550% | 3/15/33 | 6,225 | 6,877 | ||
Warnermedia Holdings Inc. | 4.054% | 3/15/29 | 36,551 | 33,604 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Warnermedia Holdings Inc. | 4.279% | 3/15/32 | 120,075 | 105,946 | ||
Weibo Corp. | 3.375% | 7/8/30 | 18,301 | 14,335 | ||
WPP Finance 2010 | 3.750% | 9/19/24 | 1 | — | ||
3,501,897 | ||||||
Consumer Discretionary (6.0%) | ||||||
Advance Auto Parts Inc. | 3.900% | 4/15/30 | 12,272 | 10,615 | ||
Advance Auto Parts Inc. | 3.500% | 3/15/32 | 6,712 | 5,398 | ||
Alibaba Group Holding Ltd. | 2.125% | 2/9/31 | 40,642 | 32,573 | ||
Amazon.com Inc. | 3.450% | 4/13/29 | 16,484 | 15,501 | ||
Amazon.com Inc. | 4.650% | 12/1/29 | 42,809 | 42,647 | ||
Amazon.com Inc. | 1.500% | 6/3/30 | 46,483 | 37,761 | ||
Amazon.com Inc. | 2.100% | 5/12/31 | 88,230 | 73,202 | ||
Amazon.com Inc. | 3.600% | 4/13/32 | 58,082 | 53,392 | ||
Amazon.com Inc. | 4.700% | 12/1/32 | 70,417 | 69,946 | ||
1 | American Honda Finance Corp. | 2.250% | 1/12/29 | 19,935 | 17,366 | |
American Honda Finance Corp. | 4.600% | 4/17/30 | 18,784 | 18,268 | ||
1 | American Honda Finance Corp. | 1.800% | 1/13/31 | 14,141 | 11,329 | |
Aptiv plc | 4.350% | 3/15/29 | 7,421 | 7,153 | ||
Aptiv plc | 3.250% | 3/1/32 | 19,237 | 16,296 | ||
AutoNation Inc. | 4.750% | 6/1/30 | 14,182 | 13,196 | ||
AutoNation Inc. | 2.400% | 8/1/31 | 17,495 | 13,457 | ||
AutoNation Inc. | 3.850% | 3/1/32 | 17,448 | 14,757 | ||
AutoZone Inc. | 3.750% | 4/18/29 | 19,406 | 17,873 | ||
AutoZone Inc. | 4.000% | 4/15/30 | 10,273 | 9,509 | ||
AutoZone Inc. | 1.650% | 1/15/31 | 17,200 | 13,365 | ||
AutoZone Inc. | 4.750% | 8/1/32 | 23,367 | 22,348 | ||
AutoZone Inc. | 4.750% | 2/1/33 | 15,392 | 14,581 | ||
AutoZone Inc. | 5.200% | 8/1/33 | 10,370 | 10,130 | ||
Best Buy Co. Inc. | 4.450% | 10/1/28 | 10,078 | 9,747 | ||
Best Buy Co. Inc. | 1.950% | 10/1/30 | 12,663 | 10,147 | ||
Block Financial LLC | 3.875% | 8/15/30 | 17,821 | 15,740 | ||
BorgWarner Inc. | 3.375% | 3/15/25 | 1 | 1 | ||
BorgWarner Inc. | 2.650% | 7/1/27 | 1 | — | ||
Brunswick Corp. | 2.400% | 8/18/31 | 19,927 | 15,276 | ||
Brunswick Corp. | 4.400% | 9/15/32 | 6,032 | 5,178 | ||
Choice Hotels International Inc. | 3.700% | 12/1/29 | 10,141 | 8,962 | ||
Choice Hotels International Inc. | 3.700% | 1/15/31 | 12,867 | 11,038 | ||
Dick's Sporting Goods Inc. | 3.150% | 1/15/32 | 18,571 | 14,797 | ||
eBay Inc. | 2.700% | 3/11/30 | 26,938 | 22,961 | ||
eBay Inc. | 2.600% | 5/10/31 | 7,864 | 6,502 | ||
eBay Inc. | 6.300% | 11/22/32 | 16,459 | 17,345 | ||
1 | Emory University | 2.143% | 9/1/30 | 10,320 | 8,589 | |
Fortune Brands Innovations Inc. | 3.250% | 9/15/29 | 13,765 | 12,125 | ||
Fortune Brands Innovations Inc. | 4.000% | 3/25/32 | 11,331 | 9,971 | ||
Fortune Brands Innovations Inc. | 5.875% | 6/1/33 | 15,425 | 15,375 | ||
General Motors Co. | 5.000% | 10/1/28 | 14,069 | 13,647 | ||
General Motors Co. | 5.400% | 10/15/29 | 20,230 | 19,555 | ||
General Motors Co. | 5.600% | 10/15/32 | 38,504 | 37,152 | ||
General Motors Financial Co. Inc. | 2.400% | 10/15/28 | 24,992 | 21,142 | ||
General Motors Financial Co. Inc. | 5.650% | 1/17/29 | 20,281 | 19,937 | ||
General Motors Financial Co. Inc. | 4.300% | 4/6/29 | 34,135 | 31,205 | ||
General Motors Financial Co. Inc. | 5.850% | 4/6/30 | 12,485 | 12,205 | ||
General Motors Financial Co. Inc. | 3.600% | 6/21/30 | 22,525 | 19,345 | ||
General Motors Financial Co. Inc. | 2.350% | 1/8/31 | 9,208 | 7,152 | ||
General Motors Financial Co. Inc. | 2.700% | 6/10/31 | 27,371 | 21,595 | ||
General Motors Financial Co. Inc. | 3.100% | 1/12/32 | 36,310 | 29,018 | ||
General Motors Financial Co. Inc. | 6.400% | 1/9/33 | 28,351 | 28,568 | ||
Genuine Parts Co. | 1.875% | 11/1/30 | 12,662 | 9,920 | ||
Genuine Parts Co. | 2.750% | 2/1/32 | 5,299 | 4,309 | ||
Hasbro Inc. | 3.900% | 11/19/29 | 26,147 | 23,747 | ||
Home Depot Inc. | 1.500% | 9/15/28 | 17,566 | 14,995 | ||
Home Depot Inc. | 3.900% | 12/6/28 | 7,217 | 6,938 | ||
Home Depot Inc. | 2.950% | 6/15/29 | 31,374 | 28,501 | ||
Home Depot Inc. | 2.700% | 4/15/30 | 34,677 | 30,472 | ||
Home Depot Inc. | 1.375% | 3/15/31 | 39,053 | 30,545 | ||
Home Depot Inc. | 1.875% | 9/15/31 | 43,391 | 34,891 | ||
Home Depot Inc. | 3.250% | 4/15/32 | 54,322 | 48,248 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Home Depot Inc. | 4.500% | 9/15/32 | 21,964 | 21,437 | ||
Honda Motor Co. Ltd. | 2.967% | 3/10/32 | 17,016 | 14,853 | ||
Hyatt Hotels Corp. | 4.375% | 9/15/28 | 7,076 | 6,674 | ||
Hyatt Hotels Corp. | 5.750% | 4/23/30 | 11,082 | 11,093 | ||
JD.com Inc. | 3.375% | 1/14/30 | 17,138 | 15,081 | ||
1 | Johns Hopkins University | 4.705% | 7/1/32 | 6,390 | 6,346 | |
Lear Corp. | 4.250% | 5/15/29 | 11,484 | 10,673 | ||
Lear Corp. | 3.500% | 5/30/30 | 8,475 | 7,401 | ||
Lear Corp. | 2.600% | 1/15/32 | 3,320 | 2,589 | ||
Leggett & Platt Inc. | 4.400% | 3/15/29 | 17,270 | 16,321 | ||
2 | LKQ Corp. | 6.250% | 6/15/33 | 13,547 | 13,443 | |
Lowe's Cos. Inc. | 1.700% | 9/15/28 | 30,861 | 26,280 | ||
Lowe's Cos. Inc. | 3.650% | 4/5/29 | 42,187 | 39,171 | ||
Lowe's Cos. Inc. | 4.500% | 4/15/30 | 35,645 | 34,318 | ||
Lowe's Cos. Inc. | 1.700% | 10/15/30 | 32,269 | 25,617 | ||
Lowe's Cos. Inc. | 2.625% | 4/1/31 | 38,094 | 31,921 | ||
Lowe's Cos. Inc. | 3.750% | 4/1/32 | 25,542 | 22,889 | ||
Lowe's Cos. Inc. | 5.150% | 7/1/33 | 30,950 | 30,584 | ||
Magna International Inc. | 2.450% | 6/15/30 | 18,066 | 15,208 | ||
Magna International Inc. | 5.500% | 3/21/33 | 12,215 | 12,367 | ||
1 | Marriott International Inc. | 4.650% | 12/1/28 | 6,968 | 6,707 | |
Marriott International Inc. | 4.900% | 4/15/29 | 27,446 | 26,707 | ||
1 | Marriott International Inc. | 4.625% | 6/15/30 | 22,088 | 20,918 | |
1 | Marriott International Inc. | 2.850% | 4/15/31 | 23,683 | 19,665 | |
1 | Marriott International Inc. | 3.500% | 10/15/32 | 15,319 | 13,011 | |
1 | Marriott International Inc. | 2.750% | 10/15/33 | 385 | 301 | |
Masco Corp. | 2.000% | 10/1/30 | 8,939 | 7,071 | ||
Masco Corp. | 2.000% | 2/15/31 | 15,053 | 11,890 | ||
1 | McDonald's Corp. | 2.625% | 9/1/29 | 33,888 | 29,982 | |
1 | McDonald's Corp. | 2.125% | 3/1/30 | 4,071 | 3,433 | |
1 | McDonald's Corp. | 3.600% | 7/1/30 | 32,823 | 30,203 | |
1 | McDonald's Corp. | 4.600% | 9/9/32 | 4,698 | 4,587 | |
McDonald's Corp. | 4.950% | 8/14/33 | 20,000 | 19,806 | ||
MDC Holdings Inc. | 2.500% | 1/15/31 | 17,706 | 13,726 | ||
2 | Mercedes-Benz Finance North America LLC | 3.100% | 8/15/29 | 12,937 | 11,593 | |
Mercedes-Benz Finance North America LLC | 8.500% | 1/18/31 | 32,438 | 39,563 | ||
2 | Mercedes-Benz Finance North America LLC | 2.450% | 3/2/31 | 6,720 | 5,623 | |
Mohawk Industries Inc. | 3.625% | 5/15/30 | 12,350 | 11,099 | ||
NIKE Inc. | 2.850% | 3/27/30 | 33,750 | 30,086 | ||
NVR Inc. | 3.000% | 5/15/30 | 22,287 | 19,081 | ||
O'Reilly Automotive Inc. | 3.900% | 6/1/29 | 14,675 | 13,776 | ||
O'Reilly Automotive Inc. | 4.200% | 4/1/30 | 17,761 | 16,654 | ||
O'Reilly Automotive Inc. | 1.750% | 3/15/31 | 5,597 | 4,405 | ||
O'Reilly Automotive Inc. | 4.700% | 6/15/32 | 18,575 | 17,746 | ||
Owens Corning | 3.950% | 8/15/29 | 10,966 | 10,205 | ||
Owens Corning | 3.875% | 6/1/30 | 8,796 | 8,003 | ||
PulteGroup Inc. | 7.875% | 6/15/32 | 7,287 | 8,332 | ||
PulteGroup Inc. | 6.375% | 5/15/33 | 8,772 | 9,128 | ||
Ralph Lauren Corp. | 2.950% | 6/15/30 | 18,176 | 15,979 | ||
Ross Stores Inc. | 1.875% | 4/15/31 | 13,300 | 10,442 | ||
Sands China Ltd. | 3.350% | 3/8/29 | 15,775 | 13,136 | ||
Sands China Ltd. | 4.875% | 6/18/30 | 16,725 | 14,604 | ||
Sands China Ltd. | 3.500% | 8/8/31 | 14,275 | 11,426 | ||
Stanley Black & Decker Inc. | 4.250% | 11/15/28 | 7,642 | 7,261 | ||
Stanley Black & Decker Inc. | 2.300% | 3/15/30 | 17,565 | 14,550 | ||
Stanley Black & Decker Inc. | 3.000% | 5/15/32 | 9,276 | 7,798 | ||
Starbucks Corp. | 4.000% | 11/15/28 | 24,178 | 23,155 | ||
Starbucks Corp. | 3.550% | 8/15/29 | 24,068 | 22,295 | ||
Starbucks Corp. | 2.250% | 3/12/30 | 14,962 | 12,615 | ||
Starbucks Corp. | 2.550% | 11/15/30 | 39,728 | 33,683 | ||
Starbucks Corp. | 3.000% | 2/14/32 | 22,423 | 19,233 | ||
Starbucks Corp. | 4.800% | 2/15/33 | 10,888 | 10,627 | ||
Tapestry Inc. | 3.050% | 3/15/32 | 10,045 | 7,703 | ||
TJX Cos. Inc. | 3.875% | 4/15/30 | 12,513 | 11,806 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
TJX Cos. Inc. | 1.600% | 5/15/31 | 4,118 | 3,306 | ||
Toll Brothers Finance Corp. | 3.800% | 11/1/29 | 10,385 | 9,261 | ||
Toyota Motor Corp. | 2.760% | 7/2/29 | 10,432 | 9,370 | ||
Toyota Motor Corp. | 2.362% | 3/25/31 | 10,626 | 8,937 | ||
Toyota Motor Corp. | 5.123% | 7/13/33 | 10,475 | 10,585 | ||
Toyota Motor Credit Corp. | 3.650% | 1/8/29 | 14,102 | 13,308 | ||
1 | Toyota Motor Credit Corp. | 4.450% | 6/29/29 | 22,292 | 21,857 | |
1 | Toyota Motor Credit Corp. | 2.150% | 2/13/30 | 15,198 | 12,899 | |
1 | Toyota Motor Credit Corp. | 3.375% | 4/1/30 | 27,414 | 24,933 | |
Toyota Motor Credit Corp. | 4.550% | 5/17/30 | 15,598 | 15,192 | ||
1 | Toyota Motor Credit Corp. | 1.650% | 1/10/31 | 13,450 | 10,722 | |
Toyota Motor Credit Corp. | 1.900% | 9/12/31 | 12,178 | 9,736 | ||
1 | Toyota Motor Credit Corp. | 2.400% | 1/13/32 | 4,913 | 4,062 | |
Toyota Motor Credit Corp. | 4.700% | 1/12/33 | 12,845 | 12,593 | ||
Tractor Supply Co. | 1.750% | 11/1/30 | 15,868 | 12,414 | ||
Tractor Supply Co. | 5.250% | 5/15/33 | 18,032 | 17,635 | ||
VF Corp. | 2.950% | 4/23/30 | 18,433 | 15,299 | ||
Whirlpool Corp. | 4.750% | 2/26/29 | 16,933 | 16,474 | ||
Whirlpool Corp. | 2.400% | 5/15/31 | 2,863 | 2,319 | ||
Whirlpool Corp. | 4.700% | 5/14/32 | 7,314 | 6,916 | ||
Whirlpool Corp. | 5.500% | 3/1/33 | 5,000 | 4,959 | ||
1 | Yale University | 1.482% | 4/15/30 | 12,790 | 10,474 | |
2,484,635 | ||||||
Consumer Staples (7.0%) | ||||||
Ahold Finance USA LLC | 6.875% | 5/1/29 | 7,108 | 7,596 | ||
Altria Group Inc. | 4.800% | 2/14/29 | 49,265 | 47,734 | ||
Altria Group Inc. | 3.400% | 5/6/30 | 6,165 | 5,422 | ||
Altria Group Inc. | 2.450% | 2/4/32 | 46,097 | 35,970 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.750% | 1/23/29 | 117,833 | 116,761 | ||
Anheuser-Busch InBev Worldwide Inc. | 3.500% | 6/1/30 | 40,737 | 37,466 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.900% | 1/23/31 | 12,616 | 12,657 | ||
Archer-Daniels-Midland Co. | 3.250% | 3/27/30 | 20,379 | 18,529 | ||
Archer-Daniels-Midland Co. | 2.900% | 3/1/32 | 14,163 | 12,218 | ||
Archer-Daniels-Midland Co. | 5.935% | 10/1/32 | 4,505 | 4,797 | ||
Avery Dennison Corp. | 4.875% | 12/6/28 | 6,374 | 6,231 | ||
Avery Dennison Corp. | 2.650% | 4/30/30 | 21,852 | 18,207 | ||
Avery Dennison Corp. | 2.250% | 2/15/32 | 4,806 | 3,719 | ||
Avery Dennison Corp. | 5.750% | 3/15/33 | 9,550 | 9,637 | ||
BAT Capital Corp. | 3.462% | 9/6/29 | 4,345 | 3,789 | ||
BAT Capital Corp. | 4.906% | 4/2/30 | 28,749 | 27,063 | ||
BAT Capital Corp. | 6.343% | 8/2/30 | 24,735 | 24,896 | ||
BAT Capital Corp. | 2.726% | 3/25/31 | 30,020 | 23,761 | ||
BAT Capital Corp. | 4.742% | 3/16/32 | 29,196 | 26,355 | ||
BAT Capital Corp. | 7.750% | 10/19/32 | 16,551 | 17,947 | ||
BAT Capital Corp. | 6.421% | 8/2/33 | 24,500 | 24,445 | ||
BAT International Finance plc | 5.931% | 2/2/29 | 9,735 | 9,696 | ||
Brown-Forman Corp. | 4.750% | 4/15/33 | 13,832 | 13,673 | ||
Bunge Ltd. Finance Corp. | 2.750% | 5/14/31 | 25,522 | 21,352 | ||
Campbell Soup Co. | 2.375% | 4/24/30 | 18,363 | 15,294 | ||
Church & Dwight Co. Inc. | 5.600% | 11/15/32 | 21,565 | 22,305 | ||
Clorox Co. | 4.400% | 5/1/29 | 12,151 | 11,758 | ||
Clorox Co. | 1.800% | 5/15/30 | 9,764 | 7,932 | ||
Clorox Co. | 4.600% | 5/1/32 | 19,055 | 18,426 | ||
Coca-Cola Co. | 2.125% | 9/6/29 | 14,095 | 12,305 | ||
Coca-Cola Co. | 3.450% | 3/25/30 | 31,870 | 29,617 | ||
Coca-Cola Co. | 1.650% | 6/1/30 | 43,005 | 35,421 | ||
Coca-Cola Co. | 2.000% | 3/5/31 | 31,834 | 26,456 | ||
Coca-Cola Co. | 1.375% | 3/15/31 | 47,257 | 37,286 | ||
Coca-Cola Co. | 2.250% | 1/5/32 | 45,232 | 37,936 | ||
Coca-Cola Femsa SAB de CV | 2.750% | 1/22/30 | 27,536 | 24,164 | ||
Coca-Cola Femsa SAB de CV | 1.850% | 9/1/32 | 16,580 | 12,781 | ||
Colgate-Palmolive Co. | 3.250% | 8/15/32 | 9,490 | 8,573 | ||
Colgate-Palmolive Co. | 4.600% | 3/1/33 | 15,076 | 15,081 | ||
Conagra Brands Inc. | 4.850% | 11/1/28 | 32,739 | 31,854 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Constellation Brands Inc. | 4.650% | 11/15/28 | 13,604 | 13,219 | ||
Constellation Brands Inc. | 3.150% | 8/1/29 | 22,844 | 20,412 | ||
Constellation Brands Inc. | 2.875% | 5/1/30 | 21,214 | 18,279 | ||
Constellation Brands Inc. | 2.250% | 8/1/31 | 23,429 | 18,830 | ||
Constellation Brands Inc. | 4.750% | 5/9/32 | 14,625 | 14,015 | ||
Constellation Brands Inc. | 4.900% | 5/1/33 | 18,415 | 17,750 | ||
Costco Wholesale Corp. | 1.600% | 4/20/30 | 33,399 | 27,549 | ||
Costco Wholesale Corp. | 1.750% | 4/20/32 | 39,128 | 31,044 | ||
Diageo Capital plc | 2.375% | 10/24/29 | 23,463 | 20,272 | ||
Diageo Capital plc | 2.000% | 4/29/30 | 30,206 | 25,190 | ||
Diageo Capital plc | 2.125% | 4/29/32 | 17,638 | 14,179 | ||
Diageo Capital plc | 5.500% | 1/24/33 | 17,679 | 18,350 | ||
Dollar General Corp. | 3.500% | 4/3/30 | 34,014 | 30,208 | ||
Dollar General Corp. | 5.000% | 11/1/32 | 16,238 | 15,438 | ||
Dollar General Corp. | 5.450% | 7/5/33 | 20,699 | 20,065 | ||
Dollar Tree Inc. | 2.650% | 12/1/31 | 20,015 | 16,141 | ||
Estee Lauder Cos. Inc. | 2.375% | 12/1/29 | 7,538 | 6,456 | ||
Estee Lauder Cos. Inc. | 2.600% | 4/15/30 | 26,526 | 22,874 | ||
Estee Lauder Cos. Inc. | 1.950% | 3/15/31 | 19,813 | 15,992 | ||
Estee Lauder Cos. Inc. | 4.650% | 5/15/33 | 18,789 | 18,188 | ||
Flowers Foods Inc. | 2.400% | 3/15/31 | 12,141 | 9,829 | ||
General Mills Inc. | 2.875% | 4/15/30 | 10,996 | 9,594 | ||
General Mills Inc. | 2.250% | 10/14/31 | 11,838 | 9,551 | ||
General Mills Inc. | 4.950% | 3/29/33 | 32,742 | 31,903 | ||
Haleon US Capital LLC | 3.375% | 3/24/29 | 24,439 | 22,340 | ||
Haleon US Capital LLC | 3.625% | 3/24/32 | 48,843 | 43,319 | ||
Hershey Co. | 1.700% | 6/1/30 | 7,399 | 6,067 | ||
Hershey Co. | 4.500% | 5/4/33 | 10,428 | 10,189 | ||
Hormel Foods Corp. | 1.800% | 6/11/30 | 24,606 | 20,341 | ||
Ingredion Inc. | 2.900% | 6/1/30 | 14,681 | 12,576 | ||
J M Smucker Co. | 2.375% | 3/15/30 | 2,600 | 2,191 | ||
J M Smucker Co. | 2.125% | 3/15/32 | 9,970 | 7,907 | ||
JBS USA LUX SA | 5.500% | 1/15/30 | 34,497 | 33,344 | ||
JBS USA LUX SA | 3.750% | 12/1/31 | 17,847 | 14,824 | ||
JBS USA LUX SA | 3.625% | 1/15/32 | 21,957 | 17,999 | ||
2 | JBS USA LUX SA | 3.000% | 5/15/32 | 275 | 214 | |
JBS USA LUX SA | 3.000% | 5/15/32 | 17,526 | 13,660 | ||
JBS USA LUX SA | 5.750% | 4/1/33 | 58,577 | 56,089 | ||
Kellogg Co. | 2.100% | 6/1/30 | 18,762 | 15,360 | ||
1 | Kellogg Co. | 7.450% | 4/1/31 | 6,009 | 6,774 | |
Kellogg Co. | 5.250% | 3/1/33 | 5,689 | 5,616 | ||
2 | Kenvue Inc. | 5.000% | 3/22/30 | 19,817 | 19,824 | |
2 | Kenvue Inc. | 4.900% | 3/22/33 | 30,610 | 30,431 | |
Keurig Dr Pepper Inc. | 3.950% | 4/15/29 | 32,523 | 30,630 | ||
Keurig Dr Pepper Inc. | 3.200% | 5/1/30 | 15,930 | 14,088 | ||
Keurig Dr Pepper Inc. | 2.250% | 3/15/31 | 14,921 | 12,167 | ||
Keurig Dr Pepper Inc. | 4.050% | 4/15/32 | 24,578 | 22,509 | ||
Kimberly-Clark Corp. | 3.950% | 11/1/28 | 5,290 | 5,125 | ||
Kimberly-Clark Corp. | 3.200% | 4/25/29 | 6,475 | 6,002 | ||
Kimberly-Clark Corp. | 3.100% | 3/26/30 | 24,508 | 22,110 | ||
Kimberly-Clark Corp. | 2.000% | 11/2/31 | 11,450 | 9,387 | ||
Kraft Heinz Foods Co. | 4.625% | 1/30/29 | 10,785 | 10,538 | ||
Kraft Heinz Foods Co. | 3.750% | 4/1/30 | 24,001 | 21,969 | ||
Kraft Heinz Foods Co. | 4.250% | 3/1/31 | 15,399 | 14,413 | ||
Kraft Heinz Foods Co. | 6.750% | 3/15/32 | 6,496 | 7,062 | ||
Kroger Co. | 4.500% | 1/15/29 | 16,507 | 15,954 | ||
1 | Kroger Co. | 7.700% | 6/1/29 | 1,805 | 2,010 | |
Kroger Co. | 2.200% | 5/1/30 | 9,809 | 8,054 | ||
Kroger Co. | 1.700% | 1/15/31 | 14,217 | 11,038 | ||
Kroger Co. | 7.500% | 4/1/31 | 7,128 | 8,006 | ||
McCormick & Co. Inc. | 2.500% | 4/15/30 | 7,742 | 6,528 | ||
McCormick & Co. Inc. | 1.850% | 2/15/31 | 8,999 | 7,083 | ||
McCormick & Co. Inc. | 4.950% | 4/15/33 | 13,270 | 12,832 | ||
Mondelez International Inc. | 2.750% | 4/13/30 | 14,671 | 12,671 | ||
Mondelez International Inc. | 1.500% | 2/4/31 | 14,244 | 11,043 | ||
Mondelez International Inc. | 3.000% | 3/17/32 | 21,374 | 18,257 | ||
Mondelez International Inc. | 1.875% | 10/15/32 | 14,345 | 11,071 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
PepsiCo Inc. | 7.000% | 3/1/29 | 15,430 | 17,169 | ||
PepsiCo Inc. | 2.625% | 7/29/29 | 22,035 | 19,733 | ||
PepsiCo Inc. | 2.750% | 3/19/30 | 47,612 | 42,355 | ||
PepsiCo Inc. | 1.625% | 5/1/30 | 40,926 | 33,658 | ||
PepsiCo Inc. | 1.400% | 2/25/31 | 21,077 | 16,753 | ||
PepsiCo Inc. | 1.950% | 10/21/31 | 25,520 | 20,806 | ||
PepsiCo Inc. | 3.900% | 7/18/32 | 39,033 | 37,000 | ||
Philip Morris International Inc. | 3.375% | 8/15/29 | 23,931 | 21,512 | ||
Philip Morris International Inc. | 5.625% | 11/17/29 | 36,705 | 37,039 | ||
Philip Morris International Inc. | 5.125% | 2/15/30 | 36,146 | 35,731 | ||
Philip Morris International Inc. | 2.100% | 5/1/30 | 22,986 | 18,849 | ||
Philip Morris International Inc. | 1.750% | 11/1/30 | 21,360 | 16,735 | ||
Philip Morris International Inc. | 5.750% | 11/17/32 | 39,225 | 39,746 | ||
Philip Morris International Inc. | 5.375% | 2/15/33 | 68,214 | 67,345 | ||
Pilgrim's Pride Corp. | 4.250% | 4/15/31 | 24,614 | 21,308 | ||
Pilgrim's Pride Corp. | 3.500% | 3/1/32 | 25,948 | 20,876 | ||
Pilgrim's Pride Corp. | 6.250% | 7/1/33 | 17,365 | 17,228 | ||
Procter & Gamble Co. | 3.000% | 3/25/30 | 39,409 | 35,997 | ||
Procter & Gamble Co. | 1.200% | 10/29/30 | 39,769 | 31,771 | ||
Procter & Gamble Co. | 1.950% | 4/23/31 | 17,453 | 14,634 | ||
Procter & Gamble Co. | 2.300% | 2/1/32 | 4,923 | 4,208 | ||
Procter & Gamble Co. | 4.050% | 1/26/33 | 14,131 | 13,733 | ||
Sysco Corp. | 2.400% | 2/15/30 | 7,417 | 6,264 | ||
Sysco Corp. | 5.950% | 4/1/30 | 25,598 | 26,486 | ||
Sysco Corp. | 2.450% | 12/14/31 | 6,031 | 4,874 | ||
Target Corp. | 3.375% | 4/15/29 | 32,340 | 30,230 | ||
Target Corp. | 2.350% | 2/15/30 | 8,246 | 7,097 | ||
Target Corp. | 2.650% | 9/15/30 | 6,733 | 5,853 | ||
Target Corp. | 4.500% | 9/15/32 | 27,723 | 26,723 | ||
Target Corp. | 4.400% | 1/15/33 | 9,525 | 9,093 | ||
Tyson Foods Inc. | 4.350% | 3/1/29 | 20,091 | 19,009 | ||
Unilever Capital Corp. | 2.125% | 9/6/29 | 13,958 | 12,135 | ||
Unilever Capital Corp. | 1.375% | 9/14/30 | 9,730 | 7,746 | ||
Unilever Capital Corp. | 1.750% | 8/12/31 | 15,388 | 12,309 | ||
Unilever Capital Corp. | 5.900% | 11/15/32 | 20,185 | 21,929 | ||
Walgreens Boots Alliance Inc. | 3.200% | 4/15/30 | 7,835 | 6,643 | ||
Walmart Inc. | 1.500% | 9/22/28 | 24,189 | 20,891 | ||
Walmart Inc. | 3.250% | 7/8/29 | 27,510 | 25,616 | ||
Walmart Inc. | 2.375% | 9/24/29 | 7,572 | 6,759 | ||
Walmart Inc. | 7.550% | 2/15/30 | 215 | 249 | ||
Walmart Inc. | 4.000% | 4/15/30 | 7,250 | 7,001 | ||
Walmart Inc. | 1.800% | 9/22/31 | 42,697 | 34,934 | ||
Walmart Inc. | 4.150% | 9/9/32 | 29,350 | 28,430 | ||
Walmart Inc. | 4.100% | 4/15/33 | 50,101 | 47,704 | ||
2,914,211 | ||||||
Energy (6.5%) | ||||||
Apache Corp. | 4.375% | 10/15/28 | 2,124 | 1,957 | ||
Apache Corp. | 4.250% | 1/15/30 | 9,241 | 8,431 | ||
Baker Hughes Holdings LLC | 4.486% | 5/1/30 | 17,936 | 17,261 | ||
Boardwalk Pipelines LP | 3.400% | 2/15/31 | 16,599 | 14,147 | ||
Boardwalk Pipelines LP | 3.600% | 9/1/32 | 10,321 | 8,685 | ||
BP Capital Markets America Inc. | 3.937% | 9/21/28 | 22,101 | 21,116 | ||
BP Capital Markets America Inc. | 4.234% | 11/6/28 | 53,304 | 51,447 | ||
BP Capital Markets America Inc. | 3.633% | 4/6/30 | 41,000 | 37,854 | ||
BP Capital Markets America Inc. | 1.749% | 8/10/30 | 26,026 | 21,107 | ||
BP Capital Markets America Inc. | 2.721% | 1/12/32 | 44,129 | 36,937 | ||
BP Capital Markets America Inc. | 4.812% | 2/13/33 | 58,261 | 56,380 | ||
BP Capital Markets America Inc. | 4.893% | 9/11/33 | 4,000 | 3,894 | ||
BP Capital Markets plc | 3.723% | 11/28/28 | 22,349 | 21,005 | ||
Burlington Resources LLC | 7.200% | 8/15/31 | 3,159 | 3,582 | ||
Burlington Resources LLC | 7.400% | 12/1/31 | 6,017 | 6,927 | ||
Canadian Natural Resources Ltd. | 2.950% | 7/15/30 | 7,566 | 6,457 | ||
Canadian Natural Resources Ltd. | 7.200% | 1/15/32 | 13,410 | 14,576 | ||
Canadian Natural Resources Ltd. | 6.450% | 6/30/33 | 3,469 | 3,571 | ||
Cenovus Energy Inc. | 2.650% | 1/15/32 | 8,718 | 7,012 | ||
Cheniere Corpus Christi Holdings LLC | 3.700% | 11/15/29 | 34,341 | 31,214 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Cheniere Energy Inc. | 4.625% | 10/15/28 | 36,540 | 34,409 | ||
Cheniere Energy Partners LP | 4.500% | 10/1/29 | 13,781 | 12,723 | ||
Cheniere Energy Partners LP | 4.000% | 3/1/31 | 44,698 | 39,412 | ||
Cheniere Energy Partners LP | 3.250% | 1/31/32 | 36,989 | 30,514 | ||
2 | Cheniere Energy Partners LP | 5.950% | 6/30/33 | 35,570 | 35,510 | |
Chevron Corp. | 2.236% | 5/11/30 | 41,215 | 35,317 | ||
Chevron USA Inc. | 3.250% | 10/15/29 | 10,438 | 9,566 | ||
Conoco Funding Co. | 7.250% | 10/15/31 | 9,898 | 11,249 | ||
ConocoPhillips | 2.400% | 2/15/31 | 21,222 | 17,280 | ||
ConocoPhillips | 5.900% | 10/15/32 | 7,511 | 8,031 | ||
ConocoPhillips Co. | 6.950% | 4/15/29 | 34,608 | 38,061 | ||
ConocoPhillips Co. | 5.050% | 9/15/33 | 1,500 | 1,491 | ||
Coterra Energy Inc. | 4.375% | 3/15/29 | 8,860 | 8,333 | ||
DCP Midstream Operating LP | 5.125% | 5/15/29 | 15,920 | 15,547 | ||
DCP Midstream Operating LP | 3.250% | 2/15/32 | 13,884 | 11,578 | ||
Devon Energy Corp. | 4.500% | 1/15/30 | 18,118 | 16,940 | ||
Devon Energy Corp. | 7.875% | 9/30/31 | 14,818 | 16,654 | ||
Devon Energy Corp. | 7.950% | 4/15/32 | 7,413 | 8,412 | ||
Diamondback Energy Inc. | 3.500% | 12/1/29 | 26,952 | 24,381 | ||
Diamondback Energy Inc. | 3.125% | 3/24/31 | 16,596 | 14,261 | ||
Diamondback Energy Inc. | 6.250% | 3/15/33 | 30,819 | 31,853 | ||
Eastern Gas Transmission & Storage Inc. | 3.000% | 11/15/29 | 8,681 | 7,546 | ||
Enbridge Inc. | 3.125% | 11/15/29 | 27,051 | 23,897 | ||
Enbridge Inc. | 5.700% | 3/8/33 | 65,190 | 65,221 | ||
Enbridge Inc. | 2.500% | 8/1/33 | 14,170 | 10,989 | ||
Energy Transfer LP | 5.250% | 4/15/29 | 46,932 | 45,832 | ||
Energy Transfer LP | 4.150% | 9/15/29 | 17,129 | 15,772 | ||
Energy Transfer LP | 3.750% | 5/15/30 | 39,869 | 35,633 | ||
Energy Transfer LP | 5.750% | 2/15/33 | 38,686 | 38,420 | ||
Enterprise Products Operating LLC | 4.150% | 10/16/28 | 25,283 | 24,154 | ||
Enterprise Products Operating LLC | 3.125% | 7/31/29 | 23,746 | 21,269 | ||
Enterprise Products Operating LLC | 2.800% | 1/31/30 | 34,106 | 29,572 | ||
Enterprise Products Operating LLC | 5.350% | 1/31/33 | 24,123 | 24,242 | ||
1 | Enterprise Products Operating LLC | 6.875% | 3/1/33 | 14,563 | 16,157 | |
EOG Resources Inc. | 4.375% | 4/15/30 | 16,985 | 16,509 | ||
EQT Corp. | 5.000% | 1/15/29 | 8,999 | 8,549 | ||
EQT Corp. | 7.000% | 2/1/30 | 13,226 | 13,873 | ||
Exxon Mobil Corp. | 2.440% | 8/16/29 | 29,665 | 26,163 | ||
Exxon Mobil Corp. | 3.482% | 3/19/30 | 51,781 | 47,905 | ||
Exxon Mobil Corp. | 2.610% | 10/15/30 | 40,397 | 35,000 | ||
Halliburton Co. | 2.920% | 3/1/30 | 29,508 | 25,747 | ||
Helmerich & Payne Inc. | 2.900% | 9/29/31 | 12,108 | 9,840 | ||
Hess Corp. | 7.875% | 10/1/29 | 7,936 | 8,765 | ||
Hess Corp. | 7.300% | 8/15/31 | 5,335 | 5,817 | ||
Hess Corp. | 7.125% | 3/15/33 | 13,075 | 14,267 | ||
HF Sinclair Corp. | 4.500% | 10/1/30 | 8,943 | 8,023 | ||
Kinder Morgan Energy Partners LP | 7.400% | 3/15/31 | 3,374 | 3,654 | ||
Kinder Morgan Energy Partners LP | 7.300% | 8/15/33 | 673 | 732 | ||
Kinder Morgan Inc. | 2.000% | 2/15/31 | 27,714 | 21,781 | ||
1 | Kinder Morgan Inc. | 7.800% | 8/1/31 | 4,558 | 5,088 | |
1 | Kinder Morgan Inc. | 7.750% | 1/15/32 | 21,299 | 23,811 | |
Kinder Morgan Inc. | 4.800% | 2/1/33 | 19,029 | 17,736 | ||
Kinder Morgan Inc. | 5.200% | 6/1/33 | 49,963 | 47,854 | ||
Magellan Midstream Partners LP | 3.250% | 6/1/30 | 5,697 | 4,972 | ||
Marathon Oil Corp. | 6.800% | 3/15/32 | 13,680 | 14,260 | ||
MPLX LP | 4.800% | 2/15/29 | 18,643 | 17,956 | ||
MPLX LP | 2.650% | 8/15/30 | 40,963 | 33,990 | ||
MPLX LP | 4.950% | 9/1/32 | 31,994 | 30,161 | ||
MPLX LP | 5.000% | 3/1/33 | 25,079 | 23,671 | ||
NOV Inc. | 3.600% | 12/1/29 | 11,594 | 10,388 | ||
Occidental Petroleum Corp. | 6.375% | 9/1/28 | 13,237 | 13,458 | ||
Occidental Petroleum Corp. | 8.875% | 7/15/30 | 24,083 | 27,614 | ||
Occidental Petroleum Corp. | 6.625% | 9/1/30 | 35,069 | 36,194 | ||
Occidental Petroleum Corp. | 6.125% | 1/1/31 | 27,775 | 28,002 | ||
Occidental Petroleum Corp. | 7.500% | 5/1/31 | 21,128 | 22,878 | ||
Occidental Petroleum Corp. | 7.875% | 9/15/31 | 11,795 | 13,077 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
ONEOK Inc. | 5.650% | 11/1/28 | 11,000 | 11,019 | ||
ONEOK Inc. | 4.350% | 3/15/29 | 25,859 | 24,189 | ||
ONEOK Inc. | 3.400% | 9/1/29 | 11,562 | 10,204 | ||
ONEOK Inc. | 3.100% | 3/15/30 | 22,253 | 19,102 | ||
ONEOK Inc. | 5.800% | 11/1/30 | 11,000 | 11,034 | ||
ONEOK Inc. | 6.350% | 1/15/31 | 9,038 | 9,278 | ||
ONEOK Inc. | 6.100% | 11/15/32 | 19,465 | 19,759 | ||
Ovintiv Inc. | 8.125% | 9/15/30 | 4,602 | 5,106 | ||
Ovintiv Inc. | 7.200% | 11/1/31 | 16,036 | 16,908 | ||
Ovintiv Inc. | 7.375% | 11/1/31 | 12,924 | 13,849 | ||
Ovintiv Inc. | 6.250% | 7/15/33 | 11,440 | 11,415 | ||
Phillips 66 | 2.150% | 12/15/30 | 14,624 | 11,847 | ||
Phillips 66 Co. | 3.150% | 12/15/29 | 19,369 | 17,063 | ||
Phillips 66 Co. | 5.300% | 6/30/33 | 11,780 | 11,657 | ||
Pioneer Natural Resources Co. | 1.900% | 8/15/30 | 35,917 | 28,979 | ||
Pioneer Natural Resources Co. | 2.150% | 1/15/31 | 30,800 | 24,946 | ||
Plains All American Pipeline LP | 3.550% | 12/15/29 | 29,460 | 25,932 | ||
Plains All American Pipeline LP | 3.800% | 9/15/30 | 18,788 | 16,633 | ||
Sabine Pass Liquefaction LLC | 4.500% | 5/15/30 | 44,591 | 41,971 | ||
Schlumberger Investment SA | 2.650% | 6/26/30 | 26,774 | 23,151 | ||
Schlumberger Investment SA | 4.850% | 5/15/33 | 12,847 | 12,550 | ||
Shell International Finance BV | 3.875% | 11/13/28 | 38,966 | 37,369 | ||
Shell International Finance BV | 2.375% | 11/7/29 | 36,379 | 31,610 | ||
Shell International Finance BV | 2.750% | 4/6/30 | 39,704 | 34,989 | ||
Suncor Energy Inc. | 7.150% | 2/1/32 | 20,114 | 21,589 | ||
Targa Resources Corp. | 4.200% | 2/1/33 | 16,745 | 14,758 | ||
Targa Resources Corp. | 6.125% | 3/15/33 | 23,186 | 23,574 | ||
Targa Resources Partners LP | 6.875% | 1/15/29 | 17,484 | 17,706 | ||
Targa Resources Partners LP | 5.500% | 3/1/30 | 24,500 | 23,534 | ||
Targa Resources Partners LP | 4.875% | 2/1/31 | 24,798 | 22,806 | ||
Targa Resources Partners LP | 4.000% | 1/15/32 | 19,858 | 17,208 | ||
Tennessee Gas Pipeline Co. LLC | 7.000% | 10/15/28 | 5,499 | 5,832 | ||
Texas Eastern Transmission LP | 7.000% | 7/15/32 | 2,285 | 2,522 | ||
TotalEnergies Capital International SA | 3.455% | 2/19/29 | 28,188 | 26,213 | ||
TotalEnergies Capital International SA | 2.829% | 1/10/30 | 28,601 | 25,392 | ||
TotalEnergies Capital SA | 3.883% | 10/11/28 | 19,755 | 18,839 | ||
TransCanada PipeLines Ltd. | 4.100% | 4/15/30 | 31,939 | 29,275 | ||
TransCanada PipeLines Ltd. | 2.500% | 10/12/31 | 18,306 | 14,585 | ||
Transcontinental Gas Pipe Line Co. LLC | 3.250% | 5/15/30 | 18,668 | 16,473 | ||
Valero Energy Corp. | 4.000% | 4/1/29 | 2,700 | 2,545 | ||
Valero Energy Corp. | 2.800% | 12/1/31 | 27,378 | 22,465 | ||
Valero Energy Corp. | 7.500% | 4/15/32 | 8,179 | 9,155 | ||
Western Midstream Operating LP | 4.750% | 8/15/28 | 2,531 | 2,397 | ||
Western Midstream Operating LP | 4.050% | 2/1/30 | 29,339 | 26,153 | ||
Western Midstream Operating LP | 6.150% | 4/1/33 | 18,513 | 18,419 | ||
Williams Cos. Inc. | 3.500% | 11/15/30 | 27,509 | 24,359 | ||
1 | Williams Cos. Inc. | 7.500% | 1/15/31 | 3,288 | 3,597 | |
Williams Cos. Inc. | 2.600% | 3/15/31 | 46,248 | 37,938 | ||
Williams Cos. Inc. | 8.750% | 3/15/32 | 15,495 | 18,141 | ||
Williams Cos. Inc. | 4.650% | 8/15/32 | 15,703 | 14,751 | ||
Williams Cos. Inc. | 5.650% | 3/15/33 | 16,670 | 16,732 | ||
2,719,039 | ||||||
Financials (29.7%) | ||||||
ACE Capital Trust II | 9.700% | 4/1/30 | 3,596 | 4,275 | ||
1 | Aegon NV | 5.500% | 4/11/48 | 14,431 | 13,570 | |
AerCap Ireland Capital DAC | 3.000% | 10/29/28 | 92,485 | 80,156 | ||
AerCap Ireland Capital DAC | 3.300% | 1/30/32 | 113,041 | 91,888 | ||
Affiliated Managers Group Inc. | 3.300% | 6/15/30 | 7,787 | 6,584 | ||
3 | Aflac Inc. | 3.600% | 4/1/30 | 30,374 | 27,653 | |
Air Lease Corp. | 2.100% | 9/1/28 | 17,405 | 14,652 | ||
Air Lease Corp. | 4.625% | 10/1/28 | 11,043 | 10,409 | ||
Air Lease Corp. | 3.250% | 10/1/29 | 13,127 | 11,449 | ||
1 | Air Lease Corp. | 3.000% | 2/1/30 | 18,995 | 15,963 | |
Air Lease Corp. | 3.125% | 12/1/30 | 16,113 | 13,454 | ||
1 | Air Lease Corp. | 2.875% | 1/15/32 | 6,325 | 5,042 | |
Alleghany Corp. | 3.625% | 5/15/30 | 12,189 | 11,257 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Allstate Corp. | 1.450% | 12/15/30 | 10,810 | 8,282 | ||
Allstate Corp. | 5.250% | 3/30/33 | 24,909 | 24,396 | ||
Allstate Corp. | 5.350% | 6/1/33 | 5,437 | 5,375 | ||
Ally Financial Inc. | 2.200% | 11/2/28 | 17,921 | 14,490 | ||
1 | Ally Financial Inc. | 8.000% | 11/1/31 | 49,745 | 51,508 | |
Ally Financial Inc. | 8.000% | 11/1/31 | 9,654 | 10,031 | ||
American Express Co. | 4.050% | 5/3/29 | 32,549 | 30,919 | ||
American Express Co. | 4.989% | 5/26/33 | 10,029 | 9,513 | ||
American Express Co. | 4.420% | 8/3/33 | 34,459 | 31,964 | ||
American Express Co. | 5.043% | 5/1/34 | 30,448 | 29,258 | ||
American Express Co. | 5.625% | 7/28/34 | 11,955 | 11,775 | ||
American Financial Group Inc. | 5.250% | 4/2/30 | 7,142 | 6,993 | ||
American International Group Inc. | 4.250% | 3/15/29 | 4,511 | 4,235 | ||
American International Group Inc. | 3.400% | 6/30/30 | 5,047 | 4,446 | ||
American International Group Inc. | 5.125% | 3/27/33 | 18,272 | 17,635 | ||
1 | American International Group Inc. | 5.750% | 4/1/48 | 11,310 | 10,727 | |
Ameriprise Financial Inc. | 4.500% | 5/13/32 | 9,818 | 9,287 | ||
Ameriprise Financial Inc. | 5.150% | 5/15/33 | 19,798 | 19,358 | ||
1 | Andrew W Mellon Foundation | 0.947% | 8/1/27 | 3,190 | 2,745 | |
Aon Corp. | 4.500% | 12/15/28 | 10,665 | 10,321 | ||
Aon Corp. | 3.750% | 5/2/29 | 20,787 | 19,339 | ||
Aon Corp. | 2.800% | 5/15/30 | 31,991 | 27,453 | ||
Aon Corp. | 2.050% | 8/23/31 | 6,249 | 4,938 | ||
Aon Corp. | 2.600% | 12/2/31 | 5,271 | 4,325 | ||
Aon Corp. | 5.000% | 9/12/32 | 17,160 | 16,741 | ||
Aon Corp. | 5.350% | 2/28/33 | 13,446 | 13,413 | ||
Ares Capital Corp. | 3.200% | 11/15/31 | 14,002 | 10,897 | ||
Arthur J Gallagher & Co. | 2.400% | 11/9/31 | 6,428 | 5,097 | ||
Arthur J Gallagher & Co. | 5.500% | 3/2/33 | 8,800 | 8,735 | ||
Assurant Inc. | 4.900% | 3/27/28 | 7,630 | 7,374 | ||
Assurant Inc. | 3.700% | 2/22/30 | 11,794 | 10,188 | ||
Assured Guaranty US Holdings Inc. | 3.150% | 6/15/31 | 9,455 | 8,033 | ||
Athene Holding Ltd. | 6.150% | 4/3/30 | 11,470 | 11,582 | ||
Athene Holding Ltd. | 3.500% | 1/15/31 | 24,405 | 20,421 | ||
Athene Holding Ltd. | 6.650% | 2/1/33 | 915 | 940 | ||
AXA SA | 8.600% | 12/15/30 | 17,793 | 21,491 | ||
AXIS Specialty Finance LLC | 3.900% | 7/15/29 | 16,291 | 14,781 | ||
1 | AXIS Specialty Finance LLC | 4.900% | 1/15/40 | 2,171 | 1,736 | |
Banco Santander SA | 3.306% | 6/27/29 | 23,280 | 20,601 | ||
Banco Santander SA | 3.490% | 5/28/30 | 17,659 | 15,282 | ||
Banco Santander SA | 2.749% | 12/3/30 | 54,393 | 42,128 | ||
Banco Santander SA | 2.958% | 3/25/31 | 14,465 | 11,896 | ||
Banco Santander SA | 3.225% | 11/22/32 | 9,288 | 7,282 | ||
Banco Santander SA | 6.921% | 8/8/33 | 45,000 | 45,017 | ||
1 | Bank of America Corp. | 3.419% | 12/20/28 | 1 | 1 | |
1 | Bank of America Corp. | 3.974% | 2/7/30 | 86,282 | 79,412 | |
1 | Bank of America Corp. | 3.194% | 7/23/30 | 53,495 | 46,969 | |
1 | Bank of America Corp. | 2.884% | 10/22/30 | 56,522 | 48,442 | |
1 | Bank of America Corp. | 2.496% | 2/13/31 | 100,033 | 83,134 | |
1 | Bank of America Corp. | 2.592% | 4/29/31 | 67,145 | 55,895 | |
1 | Bank of America Corp. | 1.898% | 7/23/31 | 56,202 | 44,305 | |
1 | Bank of America Corp. | 1.922% | 10/24/31 | 69,197 | 54,206 | |
1 | Bank of America Corp. | 2.651% | 3/11/32 | 44,969 | 36,865 | |
Bank of America Corp. | 2.687% | 4/22/32 | 98,839 | 80,784 | ||
Bank of America Corp. | 2.299% | 7/21/32 | 89,882 | 70,875 | ||
Bank of America Corp. | 2.572% | 10/20/32 | 85,826 | 68,781 | ||
1 | Bank of America Corp. | 2.972% | 2/4/33 | 79,333 | 65,273 | |
Bank of America Corp. | 4.571% | 4/27/33 | 89,366 | 82,755 | ||
1 | Bank of America Corp. | 5.015% | 7/22/33 | 127,818 | 122,913 | |
Bank of America Corp. | 5.288% | 4/25/34 | 131,273 | 128,124 | ||
Bank of America Corp. | 2.482% | 9/21/36 | 53,852 | 40,936 | ||
Bank of America Corp. | 3.846% | 3/8/37 | 50,205 | 42,512 | ||
Bank of Montreal | 3.088% | 1/10/37 | 32,745 | 25,266 | ||
1 | Bank of New York Mellon Corp. | 3.000% | 10/30/28 | 13,533 | 12,156 | |
1 | Bank of New York Mellon Corp. | 3.300% | 8/23/29 | 25,157 | 22,462 | |
Bank of New York Mellon Corp. | 4.596% | 7/26/30 | 19,869 | 19,051 | ||
1 | Bank of New York Mellon Corp. | 1.650% | 1/28/31 | 3,854 | 3,067 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Bank of New York Mellon Corp. | 1.800% | 7/28/31 | 21,354 | 16,801 | |
Bank of New York Mellon Corp. | 2.500% | 1/26/32 | 6,000 | 4,878 | ||
1 | Bank of New York Mellon Corp. | 4.289% | 6/13/33 | 25,553 | 23,499 | |
1 | Bank of New York Mellon Corp. | 5.834% | 10/25/33 | 38,970 | 39,925 | |
Bank of New York Mellon Corp. | 4.706% | 2/1/34 | 8,661 | 8,152 | ||
1 | Bank of New York Mellon Corp. | 4.967% | 4/26/34 | 20,560 | 19,739 | |
Bank of Nova Scotia | 4.850% | 2/1/30 | 41,925 | 40,560 | ||
Bank of Nova Scotia | 2.150% | 8/1/31 | 6,581 | 5,233 | ||
Bank of Nova Scotia | 2.450% | 2/2/32 | 8,198 | 6,646 | ||
Bank of Nova Scotia | 4.588% | 5/4/37 | 29,985 | 25,846 | ||
BankUnited Inc. | 5.125% | 6/11/30 | 8,076 | 6,895 | ||
1 | Barclays plc | 5.088% | 6/20/30 | 33,952 | 31,082 | |
Barclays plc | 2.645% | 6/24/31 | 7,453 | 5,934 | ||
Barclays plc | 2.667% | 3/10/32 | 24,508 | 19,170 | ||
Barclays plc | 2.894% | 11/24/32 | 29,167 | 22,737 | ||
Barclays plc | 5.746% | 8/9/33 | 41,362 | 39,647 | ||
Barclays plc | 7.437% | 11/2/33 | 55,796 | 59,648 | ||
Barclays plc | 6.224% | 5/9/34 | 35,215 | 34,789 | ||
Barclays plc | 7.119% | 6/27/34 | 38,795 | 38,722 | ||
Barclays plc | 3.564% | 9/23/35 | 24,350 | 19,315 | ||
Berkshire Hathaway Finance Corp. | 1.850% | 3/12/30 | 11,337 | 9,531 | ||
Berkshire Hathaway Finance Corp. | 1.450% | 10/15/30 | 17,198 | 13,813 | ||
Berkshire Hathaway Finance Corp. | 2.875% | 3/15/32 | 23,706 | 20,709 | ||
BlackRock Inc. | 3.250% | 4/30/29 | 29,171 | 26,948 | ||
BlackRock Inc. | 2.400% | 4/30/30 | 25,776 | 22,104 | ||
BlackRock Inc. | 1.900% | 1/28/31 | 29,155 | 23,636 | ||
BlackRock Inc. | 2.100% | 2/25/32 | 18,520 | 14,751 | ||
BlackRock Inc. | 4.750% | 5/25/33 | 35,725 | 34,672 | ||
Blackstone Private Credit Fund | 4.000% | 1/15/29 | 16,408 | 14,080 | ||
Blackstone Secured Lending Fund | 2.850% | 9/30/28 | 15,254 | 12,598 | ||
Brighthouse Financial Inc. | 5.625% | 5/15/30 | 10,955 | 10,579 | ||
Brookfield Capital Finance LLC | 6.087% | 6/14/33 | 17,321 | 17,358 | ||
Brookfield Finance I UK plc | 2.340% | 1/30/32 | 6,563 | 5,076 | ||
Brookfield Finance Inc. | 4.850% | 3/29/29 | 31,702 | 30,333 | ||
Brookfield Finance Inc. | 4.350% | 4/15/30 | 14,877 | 13,735 | ||
Brookfield Finance Inc. | 2.724% | 4/15/31 | 12,093 | 9,880 | ||
Brown & Brown Inc. | 4.500% | 3/15/29 | 10,822 | 10,182 | ||
Brown & Brown Inc. | 2.375% | 3/15/31 | 17,252 | 13,784 | ||
Brown & Brown Inc. | 4.200% | 3/17/32 | 23,014 | 20,608 | ||
Canadian Imperial Bank of Commerce | 3.600% | 4/7/32 | 24,540 | 21,846 | ||
Capital One Financial Corp. | 3.800% | 1/31/28 | 356 | 327 | ||
Capital One Financial Corp. | 5.468% | 2/1/29 | 576 | 558 | ||
Capital One Financial Corp. | 3.273% | 3/1/30 | 26,500 | 22,737 | ||
Capital One Financial Corp. | 5.247% | 7/26/30 | 5,300 | 5,039 | ||
Capital One Financial Corp. | 2.359% | 7/29/32 | 26,870 | 19,139 | ||
Capital One Financial Corp. | 2.618% | 11/2/32 | 18,932 | 14,462 | ||
Capital One Financial Corp. | 5.268% | 5/10/33 | 37,117 | 34,502 | ||
Capital One Financial Corp. | 5.817% | 2/1/34 | 37,784 | 35,890 | ||
Capital One Financial Corp. | 6.377% | 6/8/34 | 33,327 | 32,917 | ||
Cboe Global Markets Inc. | 1.625% | 12/15/30 | 14,455 | 11,367 | ||
Cboe Global Markets Inc. | 3.000% | 3/16/32 | 7,370 | 6,228 | ||
Charles Schwab Corp. | 4.000% | 2/1/29 | 14,980 | 14,087 | ||
Charles Schwab Corp. | 3.250% | 5/22/29 | 24,204 | 21,522 | ||
Charles Schwab Corp. | 2.750% | 10/1/29 | 10,919 | 9,400 | ||
Charles Schwab Corp. | 4.625% | 3/22/30 | 7,039 | 6,837 | ||
Charles Schwab Corp. | 1.650% | 3/11/31 | 19,404 | 14,862 | ||
Charles Schwab Corp. | 2.300% | 5/13/31 | 37,146 | 29,859 | ||
Charles Schwab Corp. | 1.950% | 12/1/31 | 10,174 | 7,807 | ||
Charles Schwab Corp. | 2.900% | 3/3/32 | 6,126 | 5,055 | ||
Charles Schwab Corp. | 5.853% | 5/19/34 | 30,645 | 30,691 | ||
Charles Schwab Corp. | 6.136% | 8/24/34 | 36,790 | 37,441 | ||
Chubb INA Holdings Inc. | 1.375% | 9/15/30 | 34,849 | 27,421 | ||
CI Financial Corp. | 3.200% | 12/17/30 | 23,671 | 18,220 | ||
1 | Citigroup Inc. | 3.980% | 3/20/30 | 50,203 | 46,204 | |
1 | Citigroup Inc. | 2.976% | 11/5/30 | 47,764 | 41,067 | |
1 | Citigroup Inc. | 2.666% | 1/29/31 | 62,115 | 52,001 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Citigroup Inc. | 4.412% | 3/31/31 | 113,072 | 104,972 | |
1 | Citigroup Inc. | 2.572% | 6/3/31 | 82,557 | 68,181 | |
Citigroup Inc. | 2.561% | 5/1/32 | 63,891 | 51,397 | ||
Citigroup Inc. | 6.625% | 6/15/32 | 25,087 | 26,142 | ||
Citigroup Inc. | 2.520% | 11/3/32 | 32,594 | 25,815 | ||
Citigroup Inc. | 3.057% | 1/25/33 | 80,565 | 66,362 | ||
Citigroup Inc. | 3.785% | 3/17/33 | 86,188 | 74,994 | ||
Citigroup Inc. | 4.910% | 5/24/33 | 52,963 | 50,377 | ||
Citigroup Inc. | 6.270% | 11/17/33 | 65,120 | 67,867 | ||
Citigroup Inc. | 6.174% | 5/25/34 | 85,565 | 85,373 | ||
Citizens Financial Group Inc. | 2.500% | 2/6/30 | 8,429 | 6,770 | ||
Citizens Financial Group Inc. | 3.250% | 4/30/30 | 22,962 | 19,211 | ||
Citizens Financial Group Inc. | 2.638% | 9/30/32 | 3,593 | 2,619 | ||
Citizens Financial Group Inc. | 5.641% | 5/21/37 | 10,202 | 9,002 | ||
CME Group Inc. | 2.650% | 3/15/32 | 13,843 | 11,605 | ||
CNA Financial Corp. | 3.900% | 5/1/29 | 14,425 | 13,422 | ||
CNA Financial Corp. | 2.050% | 8/15/30 | 5,253 | 4,206 | ||
CNO Financial Group Inc. | 5.250% | 5/30/29 | 12,574 | 11,993 | ||
Comerica Bank | 5.332% | 8/25/33 | 11,895 | 10,358 | ||
Comerica Inc. | 4.000% | 2/1/29 | 12,870 | 11,076 | ||
Corebridge Financial Inc. | 3.850% | 4/5/29 | 24,633 | 22,571 | ||
Corebridge Financial Inc. | 3.900% | 4/5/32 | 45,366 | 39,635 | ||
Credit Suisse USA Inc. | 7.125% | 7/15/32 | 16,944 | 18,834 | ||
Deutsche Bank AG | 5.882% | 7/8/31 | 12,221 | 11,031 | ||
1 | Deutsche Bank AG | 3.547% | 9/18/31 | 24,391 | 20,422 | |
Deutsche Bank AG | 3.729% | 1/14/32 | 31,301 | 24,166 | ||
Deutsche Bank AG | 3.035% | 5/28/32 | 28,976 | 23,021 | ||
Deutsche Bank AG | 3.742% | 1/7/33 | 31,474 | 23,573 | ||
Deutsche Bank AG | 7.079% | 2/10/34 | 36,730 | 34,927 | ||
1 | Discover Bank | 4.650% | 9/13/28 | 31,846 | 29,197 | |
1 | Discover Bank | 2.700% | 2/6/30 | 5,089 | 4,077 | |
Discover Financial Services | 6.700% | 11/29/32 | 16,100 | 16,016 | ||
Enstar Group Ltd. | 4.950% | 6/1/29 | 7,936 | 7,428 | ||
Enstar Group Ltd. | 3.100% | 9/1/31 | 21,562 | 16,792 | ||
Equitable Holdings Inc. | 5.594% | 1/11/33 | 12,125 | 11,882 | ||
Fairfax Financial Holdings Ltd. | 4.625% | 4/29/30 | 20,193 | 18,554 | ||
Fairfax Financial Holdings Ltd. | 3.375% | 3/3/31 | 14,440 | 12,107 | ||
Fairfax Financial Holdings Ltd. | 5.625% | 8/16/32 | 16,567 | 15,977 | ||
Fidelity National Financial Inc. | 4.500% | 8/15/28 | 17,468 | 16,418 | ||
Fidelity National Financial Inc. | 3.400% | 6/15/30 | 7,028 | 6,106 | ||
Fidelity National Financial Inc. | 2.450% | 3/15/31 | 14,543 | 11,567 | ||
Fifth Third Bancorp | 4.772% | 7/28/30 | 21,215 | 19,824 | ||
Fifth Third Bancorp | 4.337% | 4/25/33 | 15,811 | 13,973 | ||
First American Financial Corp. | 4.000% | 5/15/30 | 11,499 | 10,001 | ||
First American Financial Corp. | 2.400% | 8/15/31 | 16,356 | 12,537 | ||
1 | First Horizon Bank | 5.750% | 5/1/30 | 10,608 | 9,843 | |
Franklin Resources Inc. | 1.600% | 10/30/30 | 21,484 | 16,836 | ||
FS KKR Capital Corp. | 3.250% | 7/15/27 | 1 | 1 | ||
FS KKR Capital Corp. | 3.125% | 10/12/28 | 19,638 | 16,051 | ||
GATX Corp. | 4.550% | 11/7/28 | 11,594 | 11,010 | ||
GATX Corp. | 4.700% | 4/1/29 | 11,965 | 11,371 | ||
GATX Corp. | 4.000% | 6/30/30 | 16,505 | 14,994 | ||
GATX Corp. | 1.900% | 6/1/31 | 8,723 | 6,632 | ||
GATX Corp. | 3.500% | 6/1/32 | 6,607 | 5,553 | ||
GATX Corp. | 5.450% | 9/15/33 | 9,000 | 8,804 | ||
GE Capital Funding LLC | 4.550% | 5/15/32 | 20,446 | 19,498 | ||
Global Payments Inc. | 3.200% | 8/15/29 | 33,502 | 29,187 | ||
Global Payments Inc. | 5.300% | 8/15/29 | 2,936 | 2,873 | ||
Global Payments Inc. | 2.900% | 5/15/30 | 36,621 | 30,920 | ||
Global Payments Inc. | 2.900% | 11/15/31 | 24,806 | 20,293 | ||
Global Payments Inc. | 5.400% | 8/15/32 | 11,551 | 11,331 | ||
Globe Life Inc. | 4.550% | 9/15/28 | 16,875 | 16,343 | ||
Globe Life Inc. | 2.150% | 8/15/30 | 3,331 | 2,664 | ||
Globe Life Inc. | 4.800% | 6/15/32 | 9,890 | 9,381 | ||
Goldman Sachs Group Inc. | 2.600% | 2/7/30 | 40,497 | 34,184 | ||
Goldman Sachs Group Inc. | 3.800% | 3/15/30 | 59,269 | 53,935 | ||
Goldman Sachs Group Inc. | 1.992% | 1/27/32 | 50,185 | 39,087 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Goldman Sachs Group Inc. | 2.615% | 4/22/32 | 111,531 | 90,284 | ||
Goldman Sachs Group Inc. | 2.383% | 7/21/32 | 103,068 | 81,350 | ||
Goldman Sachs Group Inc. | 2.650% | 10/21/32 | 71,599 | 57,451 | ||
Goldman Sachs Group Inc. | 6.125% | 2/15/33 | 17,035 | 18,076 | ||
Goldman Sachs Group Inc. | 3.102% | 2/24/33 | 95,803 | 79,719 | ||
Hanover Insurance Group Inc. | 2.500% | 9/1/30 | 4,421 | 3,492 | ||
Hartford Financial Services Group Inc. | 2.800% | 8/19/29 | 14,754 | 12,906 | ||
HSBC Holdings plc | 4.950% | 3/31/30 | 48,834 | 46,984 | ||
1 | HSBC Holdings plc | 3.973% | 5/22/30 | 66,058 | 59,462 | |
1 | HSBC Holdings plc | 2.848% | 6/4/31 | 34,223 | 28,220 | |
1 | HSBC Holdings plc | 2.357% | 8/18/31 | 32,345 | 25,648 | |
1 | HSBC Holdings plc | 7.625% | 5/17/32 | 2,390 | 2,507 | |
HSBC Holdings plc | 2.804% | 5/24/32 | 77,192 | 61,640 | ||
HSBC Holdings plc | 2.871% | 11/22/32 | 41,405 | 32,918 | ||
HSBC Holdings plc | 4.762% | 3/29/33 | 57,806 | 51,313 | ||
HSBC Holdings plc | 5.402% | 8/11/33 | 59,575 | 56,817 | ||
HSBC Holdings plc | 8.113% | 11/3/33 | 41,367 | 44,948 | ||
HSBC Holdings plc | 6.254% | 3/9/34 | 60,031 | 60,682 | ||
HSBC Holdings plc | 6.547% | 6/20/34 | 50,817 | 49,727 | ||
Huntington Bancshares Inc. | 2.550% | 2/4/30 | 20,447 | 16,678 | ||
Huntington Bancshares Inc. | 5.023% | 5/17/33 | 14,845 | 13,743 | ||
Huntington Bancshares Inc. | 2.487% | 8/15/36 | 7,162 | 5,283 | ||
Huntington National Bank | 5.650% | 1/10/30 | 21,733 | 21,198 | ||
ING Groep NV | 4.550% | 10/2/28 | 31,689 | 30,396 | ||
ING Groep NV | 4.050% | 4/9/29 | 9,627 | 8,947 | ||
ING Groep NV | 2.727% | 4/1/32 | 15,758 | 12,850 | ||
ING Groep NV | 4.252% | 3/28/33 | 33,800 | 30,387 | ||
Intercontinental Exchange Inc. | 3.750% | 9/21/28 | 22,634 | 21,399 | ||
Intercontinental Exchange Inc. | 4.350% | 6/15/29 | 39,548 | 37,908 | ||
Intercontinental Exchange Inc. | 2.100% | 6/15/30 | 31,476 | 25,938 | ||
Intercontinental Exchange Inc. | 1.850% | 9/15/32 | 35,338 | 26,895 | ||
Intercontinental Exchange Inc. | 4.600% | 3/15/33 | 33,525 | 32,006 | ||
Jackson Financial Inc. | 3.125% | 11/23/31 | 9,374 | 7,354 | ||
Jackson Financial Inc. | 5.670% | 6/8/32 | 2,484 | 2,372 | ||
Jefferies Financial Group Inc. | 4.150% | 1/23/30 | 29,834 | 26,890 | ||
Jefferies Financial Group Inc. | 2.625% | 10/15/31 | 26,451 | 20,629 | ||
Jefferies Financial Group Inc. | 2.750% | 10/15/32 | 11,584 | 8,865 | ||
JPMorgan Chase & Co. | 3.875% | 9/10/24 | 1 | 1 | ||
JPMorgan Chase & Co. | 1.040% | 2/4/27 | 82 | 73 | ||
1 | JPMorgan Chase & Co. | 4.452% | 12/5/29 | 64,605 | 61,567 | |
1 | JPMorgan Chase & Co. | 3.702% | 5/6/30 | 43,756 | 39,931 | |
JPMorgan Chase & Co. | 4.565% | 6/14/30 | 48,821 | 46,569 | ||
1 | JPMorgan Chase & Co. | 2.739% | 10/15/30 | 96,048 | 82,317 | |
1 | JPMorgan Chase & Co. | 4.493% | 3/24/31 | 76,324 | 72,390 | |
1 | JPMorgan Chase & Co. | 2.522% | 4/22/31 | 48,329 | 40,509 | |
1 | JPMorgan Chase & Co. | 2.956% | 5/13/31 | 79,005 | 67,085 | |
JPMorgan Chase & Co. | 1.764% | 11/19/31 | 31,718 | 24,789 | ||
JPMorgan Chase & Co. | 1.953% | 2/4/32 | 73,337 | 57,790 | ||
JPMorgan Chase & Co. | 2.580% | 4/22/32 | 98,555 | 80,643 | ||
JPMorgan Chase & Co. | 2.545% | 11/8/32 | 88,972 | 71,745 | ||
JPMorgan Chase & Co. | 2.963% | 1/25/33 | 101,962 | 84,521 | ||
JPMorgan Chase & Co. | 4.586% | 4/26/33 | 54,701 | 51,151 | ||
JPMorgan Chase & Co. | 4.912% | 7/25/33 | 135,956 | 130,561 | ||
JPMorgan Chase & Co. | 5.717% | 9/14/33 | 78,908 | 78,880 | ||
JPMorgan Chase & Co. | 5.350% | 6/1/34 | 72,618 | 71,825 | ||
Kemper Corp. | 2.400% | 9/30/30 | 10,202 | 7,831 | ||
Kemper Corp. | 3.800% | 2/23/32 | 9,776 | 7,905 | ||
1 | KeyBank NA | 3.900% | 4/13/29 | 14,548 | 11,912 | |
1 | KeyBank NA | 4.900% | 8/8/32 | 18,552 | 15,330 | |
KeyBank NA | 5.000% | 1/26/33 | 17,380 | 15,115 | ||
1 | KeyCorp | 2.550% | 10/1/29 | 19,973 | 15,803 | |
1 | KeyCorp | 4.789% | 6/1/33 | 14,318 | 12,340 | |
Lazard Group LLC | 4.500% | 9/19/28 | 10,069 | 9,562 | ||
Lazard Group LLC | 4.375% | 3/11/29 | 4,816 | 4,521 | ||
Lincoln National Corp. | 3.050% | 1/15/30 | 15,714 | 13,216 | ||
Lincoln National Corp. | 3.400% | 1/15/31 | 8,254 | 6,961 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Lincoln National Corp. | 3.400% | 3/1/32 | 7,056 | 5,737 | ||
Lloyds Banking Group plc | 4.976% | 8/11/33 | 29,410 | 27,183 | ||
Lloyds Banking Group plc | 7.953% | 11/15/33 | 25,887 | 27,755 | ||
Loews Corp. | 3.200% | 5/15/30 | 11,915 | 10,532 | ||
M&T Bank Corp. | 5.053% | 1/27/34 | 27,041 | 24,602 | ||
Manulife Financial Corp. | 3.703% | 3/16/32 | 18,242 | 16,362 | ||
Markel Group Inc. | 3.350% | 9/17/29 | 7,324 | 6,558 | ||
Marsh & McLennan Cos. Inc. | 4.375% | 3/15/29 | 35,563 | 34,418 | ||
Marsh & McLennan Cos. Inc. | 2.250% | 11/15/30 | 23,684 | 19,551 | ||
Marsh & McLennan Cos. Inc. | 2.375% | 12/15/31 | 8,873 | 7,220 | ||
Marsh & McLennan Cos. Inc. | 5.750% | 11/1/32 | 19,752 | 20,490 | ||
Mastercard Inc. | 2.950% | 6/1/29 | 24,697 | 22,396 | ||
Mastercard Inc. | 3.350% | 3/26/30 | 45,275 | 41,625 | ||
Mastercard Inc. | 1.900% | 3/15/31 | 11,521 | 9,444 | ||
Mastercard Inc. | 2.000% | 11/18/31 | 20,873 | 16,955 | ||
Mastercard Inc. | 4.850% | 3/9/33 | 18,680 | 18,768 | ||
MetLife Inc. | 4.550% | 3/23/30 | 32,716 | 31,800 | ||
MetLife Inc. | 6.500% | 12/15/32 | 7,953 | 8,622 | ||
MetLife Inc. | 5.375% | 7/15/33 | 24,100 | 23,983 | ||
Mitsubishi UFJ Financial Group Inc. | 4.050% | 9/11/28 | 6,436 | 6,110 | ||
Mitsubishi UFJ Financial Group Inc. | 3.741% | 3/7/29 | 33,283 | 30,798 | ||
Mitsubishi UFJ Financial Group Inc. | 3.195% | 7/18/29 | 44,728 | 39,534 | ||
Mitsubishi UFJ Financial Group Inc. | 2.559% | 2/25/30 | 31,866 | 26,816 | ||
Mitsubishi UFJ Financial Group Inc. | 2.048% | 7/17/30 | 37,343 | 29,980 | ||
Mitsubishi UFJ Financial Group Inc. | 2.309% | 7/20/32 | 62,060 | 49,085 | ||
Mitsubishi UFJ Financial Group Inc. | 2.494% | 10/13/32 | 22,541 | 17,980 | ||
Mitsubishi UFJ Financial Group Inc. | 2.852% | 1/19/33 | 27,847 | 22,711 | ||
Mitsubishi UFJ Financial Group Inc. | 4.315% | 4/19/33 | 17,113 | 15,764 | ||
Mitsubishi UFJ Financial Group Inc. | 5.133% | 7/20/33 | 43,776 | 42,474 | ||
Mitsubishi UFJ Financial Group Inc. | 5.472% | 9/13/33 | 19,456 | 19,301 | ||
Mitsubishi UFJ Financial Group Inc. | 5.441% | 2/22/34 | 14,766 | 14,589 | ||
Mitsubishi UFJ Financial Group Inc. | 5.406% | 4/19/34 | 24,067 | 23,725 | ||
1 | Mizuho Financial Group Inc. | 4.254% | 9/11/29 | 18,174 | 16,969 | |
1 | Mizuho Financial Group Inc. | 3.153% | 7/16/30 | 27,568 | 23,842 | |
1 | Mizuho Financial Group Inc. | 2.869% | 9/13/30 | 21,925 | 18,616 | |
1 | Mizuho Financial Group Inc. | 2.591% | 5/25/31 | 4,502 | 3,694 | |
Mizuho Financial Group Inc. | 5.739% | 5/27/31 | 21,497 | 21,311 | ||
1 | Mizuho Financial Group Inc. | 2.201% | 7/10/31 | 25,488 | 20,250 | |
1 | Mizuho Financial Group Inc. | 1.979% | 9/8/31 | 30,347 | 23,635 | |
Mizuho Financial Group Inc. | 2.564% | 9/13/31 | 21,184 | 16,480 | ||
Mizuho Financial Group Inc. | 2.172% | 5/22/32 | 12,945 | 10,010 | ||
Mizuho Financial Group Inc. | 2.260% | 7/9/32 | 8,385 | 6,506 | ||
Mizuho Financial Group Inc. | 5.669% | 9/13/33 | 18,822 | 18,653 | ||
Mizuho Financial Group Inc. | 5.754% | 5/27/34 | 16,570 | 16,465 | ||
Mizuho Financial Group Inc. | 5.748% | 7/6/34 | 27,250 | 26,990 | ||
Morgan Stanley | 1.593% | 5/4/27 | 11 | 10 | ||
1 | Morgan Stanley | 4.431% | 1/23/30 | 60,345 | 57,266 | |
1 | Morgan Stanley | 2.699% | 1/22/31 | 76,445 | 64,381 | |
1 | Morgan Stanley | 3.622% | 4/1/31 | 60,270 | 53,571 | |
1 | Morgan Stanley | 1.794% | 2/13/32 | 61,327 | 47,143 | |
Morgan Stanley | 7.250% | 4/1/32 | 24,090 | 27,392 | ||
1 | Morgan Stanley | 1.928% | 4/28/32 | 67,356 | 51,924 | |
1 | Morgan Stanley | 2.239% | 7/21/32 | 84,352 | 66,179 | |
1 | Morgan Stanley | 2.511% | 10/20/32 | 58,422 | 46,550 | |
Morgan Stanley | 2.943% | 1/21/33 | 55,962 | 45,892 | ||
Morgan Stanley | 4.889% | 7/20/33 | 53,499 | 50,610 | ||
Morgan Stanley | 6.342% | 10/18/33 | 85,594 | 89,676 | ||
1 | Morgan Stanley | 5.250% | 4/21/34 | 83,319 | 80,876 | |
1 | Morgan Stanley | 5.424% | 7/21/34 | 56,570 | 55,595 | |
Morgan Stanley | 2.484% | 9/16/36 | 82,000 | 61,779 | ||
Morgan Stanley | 5.297% | 4/20/37 | 34,803 | 32,393 | ||
Morgan Stanley | 5.948% | 1/19/38 | 55,246 | 53,761 | ||
Nasdaq Inc. | 1.650% | 1/15/31 | 17,040 | 13,327 | ||
NatWest Group plc | 5.808% | 9/13/29 | 20,000 | 19,830 | ||
1 | NatWest Group plc | 5.076% | 1/27/30 | 41,460 | 39,498 | |
1 | NatWest Group plc | 4.445% | 5/8/30 | 34,491 | 31,680 | |
NatWest Group plc | 6.016% | 3/2/34 | 30,126 | 29,946 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | NatWest Group plc | 3.032% | 11/28/35 | 17,938 | 13,850 | |
Nomura Holdings Inc. | 2.710% | 1/22/29 | 8,326 | 7,067 | ||
Nomura Holdings Inc. | 5.605% | 7/6/29 | 1,781 | 1,748 | ||
Nomura Holdings Inc. | 3.103% | 1/16/30 | 50,741 | 42,989 | ||
Nomura Holdings Inc. | 2.679% | 7/16/30 | 19,117 | 15,545 | ||
Nomura Holdings Inc. | 2.608% | 7/14/31 | 23,832 | 18,729 | ||
Nomura Holdings Inc. | 2.999% | 1/22/32 | 32,146 | 25,737 | ||
Nomura Holdings Inc. | 6.181% | 1/18/33 | 12,782 | 12,937 | ||
Nomura Holdings Inc. | 6.087% | 7/12/33 | 6,629 | 6,641 | ||
Northern Trust Corp. | 3.150% | 5/3/29 | 16,271 | 14,784 | ||
Northern Trust Corp. | 1.950% | 5/1/30 | 23,247 | 19,143 | ||
Northern Trust Corp. | 6.125% | 11/2/32 | 23,948 | 24,449 | ||
ORIX Corp. | 3.700% | 7/18/27 | 1 | 1 | ||
ORIX Corp. | 2.250% | 3/9/31 | 12,201 | 9,898 | ||
ORIX Corp. | 4.000% | 4/13/32 | 14,663 | 13,369 | ||
ORIX Corp. | 5.200% | 9/13/32 | 11,612 | 11,548 | ||
PartnerRe Finance B LLC | 3.700% | 7/2/29 | 13,617 | 12,330 | ||
PartnerRe Finance B LLC | 4.500% | 10/1/50 | 12,241 | 10,324 | ||
PayPal Holdings Inc. | 2.850% | 10/1/29 | 39,947 | 35,267 | ||
PayPal Holdings Inc. | 2.300% | 6/1/30 | 27,302 | 22,947 | ||
PayPal Holdings Inc. | 4.400% | 6/1/32 | 27,491 | 26,243 | ||
1 | PNC Bank NA | 2.700% | 10/22/29 | 15,913 | 13,346 | |
PNC Financial Services Group Inc. | 3.450% | 4/23/29 | 48,293 | 43,535 | ||
PNC Financial Services Group Inc. | 2.550% | 1/22/30 | 29,636 | 24,860 | ||
PNC Financial Services Group Inc. | 2.307% | 4/23/32 | 23,861 | 19,220 | ||
PNC Financial Services Group Inc. | 4.626% | 6/6/33 | 19,484 | 17,626 | ||
PNC Financial Services Group Inc. | 6.037% | 10/28/33 | 44,912 | 45,638 | ||
PNC Financial Services Group Inc. | 5.068% | 1/24/34 | 35,315 | 33,477 | ||
PNC Financial Services Group Inc. | 5.939% | 8/18/34 | 18,395 | 18,611 | ||
Primerica Inc. | 2.800% | 11/19/31 | 16,319 | 13,417 | ||
Principal Financial Group Inc. | 3.700% | 5/15/29 | 17,521 | 16,058 | ||
Principal Financial Group Inc. | 2.125% | 6/15/30 | 4,342 | 3,542 | ||
Principal Financial Group Inc. | 5.375% | 3/15/33 | 13,240 | 13,108 | ||
Progressive Corp. | 4.000% | 3/1/29 | 10,989 | 10,565 | ||
Progressive Corp. | 6.625% | 3/1/29 | 6,328 | 6,895 | ||
Progressive Corp. | 3.200% | 3/26/30 | 10,231 | 9,132 | ||
Progressive Corp. | 3.000% | 3/15/32 | 14,599 | 12,699 | ||
Progressive Corp. | 6.250% | 12/1/32 | 5,479 | 5,880 | ||
Progressive Corp. | 4.950% | 6/15/33 | 12,072 | 11,855 | ||
Prospect Capital Corp. | 3.437% | 10/15/28 | 7,613 | 5,996 | ||
1 | Prudential Financial Inc. | 2.100% | 3/10/30 | 4,231 | 3,544 | |
1 | Prudential Financial Inc. | 5.750% | 7/15/33 | 8,559 | 9,005 | |
1 | Prudential Financial Inc. | 5.700% | 9/15/48 | 12,567 | 11,880 | |
1 | Prudential Financial Inc. | 3.700% | 10/1/50 | 24,195 | 20,566 | |
Prudential Financial Inc. | 5.125% | 3/1/52 | 30,853 | 27,569 | ||
Prudential Financial Inc. | 6.000% | 9/1/52 | 25,150 | 24,061 | ||
Prudential Financial Inc. | 6.750% | 3/1/53 | 7,292 | 7,205 | ||
Prudential Funding Asia plc | 3.125% | 4/14/30 | 20,537 | 18,083 | ||
Prudential Funding Asia plc | 3.625% | 3/24/32 | 8,602 | 7,577 | ||
Raymond James Financial Inc. | 4.650% | 4/1/30 | 12,683 | 12,263 | ||
Reinsurance Group of America Inc. | 3.900% | 5/15/29 | 19,598 | 17,952 | ||
Reinsurance Group of America Inc. | 3.150% | 6/15/30 | 8,301 | 7,090 | ||
Reinsurance Group of America Inc. | 6.000% | 9/15/33 | 3,000 | 3,015 | ||
RenaissanceRe Holdings Ltd. | 3.600% | 4/15/29 | 2,480 | 2,221 | ||
RenaissanceRe Holdings Ltd. | 5.750% | 6/5/33 | 21,594 | 20,975 | ||
1 | Royal Bank of Canada | 2.300% | 11/3/31 | 39,066 | 31,382 | |
Royal Bank of Canada | 3.875% | 5/4/32 | 23,265 | 21,103 | ||
1 | Royal Bank of Canada | 5.000% | 2/1/33 | 42,405 | 41,103 | |
1 | Royal Bank of Canada | 5.000% | 5/2/33 | 26,910 | 26,033 | |
Santander UK Group Holdings plc | 2.896% | 3/15/32 | 14,308 | 11,436 | ||
1 | State Street Corp. | 4.141% | 12/3/29 | 9,604 | 9,201 | |
State Street Corp. | 2.400% | 1/24/30 | 24,902 | 21,268 | ||
State Street Corp. | 2.200% | 3/3/31 | 26,618 | 21,197 | ||
State Street Corp. | 3.152% | 3/30/31 | 13,486 | 11,844 | ||
State Street Corp. | 4.421% | 5/13/33 | 14,313 | 13,305 | ||
State Street Corp. | 4.164% | 8/4/33 | 18,803 | 17,103 | ||
State Street Corp. | 4.821% | 1/26/34 | 16,190 | 15,359 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
State Street Corp. | 5.159% | 5/18/34 | 27,335 | 26,534 | ||
1 | State Street Corp. | 3.031% | 11/1/34 | 7,898 | 6,794 | |
Stewart Information Services Corp. | 3.600% | 11/15/31 | 15,316 | 11,545 | ||
Stifel Financial Corp. | 4.000% | 5/15/30 | 11,345 | 9,867 | ||
Sumitomo Mitsui Financial Group Inc. | 1.902% | 9/17/28 | 66,522 | 55,897 | ||
Sumitomo Mitsui Financial Group Inc. | 4.306% | 10/16/28 | 9,290 | 8,811 | ||
Sumitomo Mitsui Financial Group Inc. | 3.040% | 7/16/29 | 70,016 | 61,107 | ||
Sumitomo Mitsui Financial Group Inc. | 3.202% | 9/17/29 | 9,572 | 8,375 | ||
Sumitomo Mitsui Financial Group Inc. | 2.724% | 9/27/29 | 5,877 | 5,011 | ||
Sumitomo Mitsui Financial Group Inc. | 5.710% | 1/13/30 | 34,480 | 34,627 | ||
Sumitomo Mitsui Financial Group Inc. | 2.750% | 1/15/30 | 32,604 | 27,721 | ||
Sumitomo Mitsui Financial Group Inc. | 2.130% | 7/8/30 | 49,835 | 40,126 | ||
Sumitomo Mitsui Financial Group Inc. | 2.142% | 9/23/30 | 30,668 | 24,226 | ||
Sumitomo Mitsui Financial Group Inc. | 1.710% | 1/12/31 | 6,098 | 4,690 | ||
Sumitomo Mitsui Financial Group Inc. | 2.222% | 9/17/31 | 10,740 | 8,489 | ||
Sumitomo Mitsui Financial Group Inc. | 5.766% | 1/13/33 | 36,881 | 37,315 | ||
Sumitomo Mitsui Financial Group Inc. | 5.776% | 7/13/33 | 30,011 | 30,376 | ||
Synchrony Financial | 5.150% | 3/19/29 | 16,257 | 14,910 | ||
Synchrony Financial | 2.875% | 10/28/31 | 17,282 | 12,808 | ||
1 | Toronto-Dominion Bank | 2.000% | 9/10/31 | 9,580 | 7,581 | |
1 | Toronto-Dominion Bank | 2.450% | 1/12/32 | 17,258 | 13,951 | |
1 | Toronto-Dominion Bank | 3.200% | 3/10/32 | 37,679 | 32,055 | |
Toronto-Dominion Bank | 4.456% | 6/8/32 | 57,479 | 53,567 | ||
Travelers Property Casualty Corp. | 6.375% | 3/15/33 | 1,832 | 2,011 | ||
1 | Truist Bank | 2.250% | 3/11/30 | 32,973 | 26,164 | |
1 | Truist Financial Corp. | 3.875% | 3/19/29 | 19,046 | 17,027 | |
1 | Truist Financial Corp. | 1.950% | 6/5/30 | 11,133 | 8,825 | |
1 | Truist Financial Corp. | 4.916% | 7/28/33 | 24,212 | 21,596 | |
1 | Truist Financial Corp. | 6.123% | 10/28/33 | 26,865 | 27,029 | |
1 | Truist Financial Corp. | 5.122% | 1/26/34 | 29,015 | 27,205 | |
1 | Truist Financial Corp. | 5.867% | 6/8/34 | 42,360 | 42,003 | |
Unum Group | 4.000% | 6/15/29 | 10,214 | 9,365 | ||
1 | US Bancorp | 3.000% | 7/30/29 | 17,594 | 15,066 | |
1 | US Bancorp | 1.375% | 7/22/30 | 26,357 | 19,974 | |
1 | US Bancorp | 2.677% | 1/27/33 | 19,894 | 15,812 | |
1 | US Bancorp | 4.967% | 7/22/33 | 31,128 | 28,364 | |
US Bancorp | 5.850% | 10/21/33 | 39,403 | 39,210 | ||
US Bancorp | 4.839% | 2/1/34 | 51,750 | 47,998 | ||
US Bancorp | 5.836% | 6/12/34 | 36,640 | 36,550 | ||
US Bancorp | 2.491% | 11/3/36 | 35,395 | 26,072 | ||
Visa Inc. | 2.050% | 4/15/30 | 32,054 | 27,184 | ||
Visa Inc. | 1.100% | 2/15/31 | 20,727 | 16,115 | ||
Webster Financial Corp. | 4.100% | 3/25/29 | 7,522 | 6,575 | ||
1 | Wells Fargo & Co. | 3.196% | 6/17/27 | 184 | 172 | |
1 | Wells Fargo & Co. | 4.150% | 1/24/29 | 57,395 | 54,017 | |
1 | Wells Fargo & Co. | 7.950% | 11/15/29 | 3,518 | 3,834 | |
1 | Wells Fargo & Co. | 2.879% | 10/30/30 | 88,992 | 76,134 | |
1 | Wells Fargo & Co. | 2.572% | 2/11/31 | 81,680 | 68,186 | |
1 | Wells Fargo & Co. | 4.478% | 4/4/31 | 70,646 | 66,079 | |
1 | Wells Fargo & Co. | 3.350% | 3/2/33 | 87,619 | 73,814 | |
1 | Wells Fargo & Co. | 4.897% | 7/25/33 | 103,138 | 97,040 | |
Wells Fargo & Co. | 5.389% | 4/24/34 | 95,355 | 92,894 | ||
1 | Wells Fargo & Co. | 5.557% | 7/25/34 | 97,284 | 96,018 | |
Western Union Co. | 2.750% | 3/15/31 | 6,566 | 5,159 | ||
Westpac Banking Corp. | 1.953% | 11/20/28 | 28,737 | 24,677 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Westpac Banking Corp. | 2.650% | 1/16/30 | 18,405 | 16,081 | ||
Westpac Banking Corp. | 2.150% | 6/3/31 | 30,784 | 25,261 | ||
Westpac Banking Corp. | 5.405% | 8/10/33 | 16,779 | 15,793 | ||
Westpac Banking Corp. | 4.110% | 7/24/34 | 38,956 | 34,160 | ||
Westpac Banking Corp. | 2.668% | 11/15/35 | 29,177 | 22,421 | ||
Westpac Banking Corp. | 3.020% | 11/18/36 | 34,751 | 26,570 | ||
Willis North America Inc. | 4.500% | 9/15/28 | 14,671 | 13,964 | ||
Willis North America Inc. | 2.950% | 9/15/29 | 19,374 | 16,791 | ||
Willis North America Inc. | 5.350% | 5/15/33 | 17,349 | 16,754 | ||
Wintrust Financial Corp. | 4.850% | 6/6/29 | 7,001 | 6,233 | ||
Zions Bancorp NA | 3.250% | 10/29/29 | 11,915 | 9,347 | ||
12,412,300 | ||||||
Health Care (9.5%) | ||||||
Abbott Laboratories | 1.400% | 6/30/30 | 6,472 | 5,271 | ||
AbbVie Inc. | 4.250% | 11/14/28 | 42,820 | 41,444 | ||
AbbVie Inc. | 3.200% | 11/21/29 | 135,476 | 122,127 | ||
Adventist Health System | 2.952% | 3/1/29 | 5,184 | 4,508 | ||
Adventist Health System | 5.430% | 3/1/32 | 8,575 | 8,509 | ||
Advocate Health & Hospitals Corp. | 3.829% | 8/15/28 | 6,838 | 6,496 | ||
1 | Advocate Health & Hospitals Corp. | 2.211% | 6/15/30 | 9,183 | 7,612 | |
Agilent Technologies Inc. | 2.750% | 9/15/29 | 5,883 | 5,141 | ||
Agilent Technologies Inc. | 2.100% | 6/4/30 | 12,433 | 10,180 | ||
Agilent Technologies Inc. | 2.300% | 3/12/31 | 19,254 | 15,753 | ||
Amgen Inc. | 3.000% | 2/22/29 | 19,438 | 17,570 | ||
Amgen Inc. | 4.050% | 8/18/29 | 36,887 | 34,836 | ||
Amgen Inc. | 2.450% | 2/21/30 | 32,287 | 27,455 | ||
Amgen Inc. | 5.250% | 3/2/30 | 66,189 | 66,222 | ||
Amgen Inc. | 2.300% | 2/25/31 | 29,098 | 24,006 | ||
Amgen Inc. | 2.000% | 1/15/32 | 13,691 | 10,727 | ||
Amgen Inc. | 3.350% | 2/22/32 | 28,960 | 25,233 | ||
Amgen Inc. | 4.200% | 3/1/33 | 4,135 | 3,801 | ||
Amgen Inc. | 5.250% | 3/2/33 | 119,618 | 118,939 | ||
1 | Ascension Health | 2.532% | 11/15/29 | 14,865 | 12,830 | |
AstraZeneca Finance LLC | 2.250% | 5/28/31 | 20,643 | 17,179 | ||
AstraZeneca Finance LLC | 4.875% | 3/3/33 | 13,539 | 13,543 | ||
AstraZeneca plc | 4.000% | 1/17/29 | 28,360 | 27,196 | ||
AstraZeneca plc | 1.375% | 8/6/30 | 39,083 | 31,062 | ||
Banner Health | 2.338% | 1/1/30 | 6,310 | 5,346 | ||
Banner Health | 1.897% | 1/1/31 | 8,110 | 6,491 | ||
Baxter International Inc. | 2.272% | 12/1/28 | 36,036 | 30,849 | ||
Baxter International Inc. | 3.950% | 4/1/30 | 20,309 | 18,598 | ||
Baxter International Inc. | 1.730% | 4/1/31 | 3,737 | 2,879 | ||
Baxter International Inc. | 2.539% | 2/1/32 | 42,182 | 33,838 | ||
1 | Baylor Scott & White Holdings | 1.777% | 11/15/30 | 3,203 | 2,553 | |
Becton Dickinson & Co. | 2.823% | 5/20/30 | 13,373 | 11,554 | ||
Becton Dickinson & Co. | 1.957% | 2/11/31 | 31,958 | 25,698 | ||
Becton Dickinson & Co. | 4.298% | 8/22/32 | 6,121 | 5,716 | ||
Biogen Inc. | 2.250% | 5/1/30 | 34,814 | 28,634 | ||
Bio-Rad Laboratories Inc. | 3.700% | 3/15/32 | 19,488 | 17,068 | ||
1 | Bon Secours Mercy Health Inc. | 3.464% | 6/1/30 | 13,477 | 12,054 | |
1 | Bon Secours Mercy Health Inc. | 2.095% | 6/1/31 | 7,028 | 5,607 | |
Boston Scientific Corp. | 2.650% | 6/1/30 | 34,377 | 29,480 | ||
Bristol-Myers Squibb Co. | 3.400% | 7/26/29 | 61,506 | 56,933 | ||
Bristol-Myers Squibb Co. | 1.450% | 11/13/30 | 22,890 | 18,152 | ||
Bristol-Myers Squibb Co. | 2.950% | 3/15/32 | 46,525 | 40,295 | ||
1 | Cedars-Sinai Health System | 2.288% | 8/15/31 | 7,900 | 6,399 | |
Cencora Inc. | 2.800% | 5/15/30 | 11,727 | 10,106 | ||
Cencora Inc. | 2.700% | 3/15/31 | 22,802 | 19,166 | ||
Centene Corp. | 4.625% | 12/15/29 | 84,331 | 77,542 | ||
Centene Corp. | 3.375% | 2/15/30 | 35,255 | 30,151 | ||
Centene Corp. | 3.000% | 10/15/30 | 68,793 | 57,255 | ||
Centene Corp. | 2.500% | 3/1/31 | 61,873 | 49,334 | ||
Centene Corp. | 2.625% | 8/1/31 | 31,227 | 24,823 | ||
1 | CHRISTUS Health | 4.341% | 7/1/28 | 4,393 | 4,215 | |
Cigna Group | 4.375% | 10/15/28 | 91,523 | 88,062 | ||
Cigna Group | 2.400% | 3/15/30 | 28,986 | 24,384 | ||
Cigna Group | 2.375% | 3/15/31 | 36,743 | 30,221 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Cigna Group | 5.400% | 3/15/33 | 24,370 | 24,461 | ||
CommonSpirit Health | 3.347% | 10/1/29 | 33,089 | 29,484 | ||
CVS Health Corp. | 5.000% | 1/30/29 | 21,811 | 21,467 | ||
CVS Health Corp. | 3.250% | 8/15/29 | 29,822 | 26,633 | ||
CVS Health Corp. | 5.125% | 2/21/30 | 42,501 | 41,842 | ||
CVS Health Corp. | 3.750% | 4/1/30 | 46,456 | 42,249 | ||
CVS Health Corp. | 1.750% | 8/21/30 | 27,335 | 21,673 | ||
CVS Health Corp. | 5.250% | 1/30/31 | 20,620 | 20,354 | ||
CVS Health Corp. | 1.875% | 2/28/31 | 42,085 | 32,997 | ||
CVS Health Corp. | 2.125% | 9/15/31 | 11,774 | 9,283 | ||
CVS Health Corp. | 5.250% | 2/21/33 | 50,383 | 49,262 | ||
CVS Health Corp. | 5.300% | 6/1/33 | 24,000 | 23,506 | ||
DENTSPLY SIRONA Inc. | 3.250% | 6/1/30 | 18,485 | 15,855 | ||
DH Europe Finance II Sarl | 2.600% | 11/15/29 | 16,498 | 14,526 | ||
Elevance Health Inc. | 4.101% | 3/1/28 | 1 | 1 | ||
Elevance Health Inc. | 2.875% | 9/15/29 | 31,539 | 27,820 | ||
Elevance Health Inc. | 2.250% | 5/15/30 | 27,942 | 23,330 | ||
Elevance Health Inc. | 2.550% | 3/15/31 | 32,808 | 27,444 | ||
Elevance Health Inc. | 4.100% | 5/15/32 | 6,642 | 6,118 | ||
Elevance Health Inc. | 5.500% | 10/15/32 | 8,243 | 8,397 | ||
Elevance Health Inc. | 4.750% | 2/15/33 | 25,594 | 24,770 | ||
Eli Lilly & Co. | 3.375% | 3/15/29 | 19,628 | 18,355 | ||
Eli Lilly & Co. | 4.700% | 2/27/33 | 23,681 | 23,626 | ||
GE HealthCare Technologies Inc. | 5.857% | 3/15/30 | 30,380 | 30,865 | ||
GE HealthCare Technologies Inc. | 5.905% | 11/22/32 | 42,536 | 43,609 | ||
Gilead Sciences Inc. | 1.650% | 10/1/30 | 21,308 | 17,121 | ||
GlaxoSmithKline Capital Inc. | 3.875% | 5/15/28 | 1 | 1 | ||
GlaxoSmithKline Capital plc | 3.375% | 6/1/29 | 24,483 | 22,777 | ||
HCA Inc. | 5.625% | 9/1/28 | 31,256 | 31,184 | ||
HCA Inc. | 5.875% | 2/1/29 | 24,085 | 24,231 | ||
HCA Inc. | 3.375% | 3/15/29 | 12,143 | 10,826 | ||
HCA Inc. | 4.125% | 6/15/29 | 49,688 | 45,877 | ||
HCA Inc. | 3.500% | 9/1/30 | 57,823 | 50,502 | ||
HCA Inc. | 2.375% | 7/15/31 | 29,656 | 23,439 | ||
HCA Inc. | 3.625% | 3/15/32 | 50,292 | 43,261 | ||
HCA Inc. | 5.500% | 6/1/33 | 30,781 | 30,282 | ||
Humana Inc. | 3.700% | 3/23/29 | 9,135 | 8,458 | ||
Humana Inc. | 3.125% | 8/15/29 | 20,488 | 18,214 | ||
Humana Inc. | 4.875% | 4/1/30 | 17,388 | 16,855 | ||
Humana Inc. | 2.150% | 2/3/32 | 22,417 | 17,568 | ||
Humana Inc. | 5.875% | 3/1/33 | 13,891 | 14,368 | ||
Illumina Inc. | 2.550% | 3/23/31 | 12,391 | 9,930 | ||
Johnson & Johnson | 6.950% | 9/1/29 | 3,833 | 4,383 | ||
Johnson & Johnson | 1.300% | 9/1/30 | 37,738 | 30,594 | ||
Johnson & Johnson | 4.950% | 5/15/33 | 11,962 | 12,424 | ||
Laboratory Corp. of America Holdings | 2.950% | 12/1/29 | 9,247 | 8,118 | ||
Laboratory Corp. of America Holdings | 2.700% | 6/1/31 | 18,700 | 15,602 | ||
Medtronic Global Holdings SCA | 4.500% | 3/30/33 | 31,667 | 30,597 | ||
Merck & Co. Inc. | 1.900% | 12/10/28 | 20,287 | 17,619 | ||
Merck & Co. Inc. | 3.400% | 3/7/29 | 48,337 | 44,995 | ||
Merck & Co. Inc. | 4.300% | 5/17/30 | 20,866 | 20,210 | ||
Merck & Co. Inc. | 1.450% | 6/24/30 | 25,428 | 20,500 | ||
Merck & Co. Inc. | 2.150% | 12/10/31 | 58,101 | 47,487 | ||
Merck & Co. Inc. | 4.500% | 5/17/33 | 39,039 | 38,024 | ||
Novartis Capital Corp. | 2.200% | 8/14/30 | 39,217 | 33,412 | ||
1 | Ochsner LSU Health System of North Louisiana | 2.510% | 5/15/31 | 8,265 | 5,969 | |
OhioHealth Corp. | 2.297% | 11/15/31 | 7,740 | 6,303 | ||
Pfizer Inc. | 3.600% | 9/15/28 | 13,779 | 13,120 | ||
Pfizer Inc. | 3.450% | 3/15/29 | 51,353 | 48,142 | ||
Pfizer Inc. | 2.625% | 4/1/30 | 41,717 | 36,636 | ||
Pfizer Inc. | 1.700% | 5/28/30 | 23,884 | 19,676 | ||
Pfizer Inc. | 1.750% | 8/18/31 | 19,206 | 15,449 | ||
Pfizer Investment Enterprises Pte. Ltd. | 4.650% | 5/19/30 | 71,995 | 70,862 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Pfizer Investment Enterprises Pte. Ltd. | 4.750% | 5/19/33 | 123,827 | 121,841 | ||
Pharmacia LLC | 6.600% | 12/1/28 | 14,801 | 15,940 | ||
1 | Piedmont Healthcare Inc. | 2.044% | 1/1/32 | 6,426 | 5,043 | |
1 | Providence St. Joseph Health Obligated Group | 2.532% | 10/1/29 | 15,102 | 12,802 | |
Quest Diagnostics Inc. | 4.200% | 6/30/29 | 12,959 | 12,402 | ||
Quest Diagnostics Inc. | 2.950% | 6/30/30 | 26,314 | 22,801 | ||
Quest Diagnostics Inc. | 2.800% | 6/30/31 | 8,168 | 6,931 | ||
Regeneron Pharmaceuticals Inc. | 1.750% | 9/15/30 | 30,411 | 24,188 | ||
Revvity Inc. | 1.900% | 9/15/28 | 11,300 | 9,566 | ||
Revvity Inc. | 3.300% | 9/15/29 | 20,693 | 18,395 | ||
Revvity Inc. | 2.550% | 3/15/31 | 12,065 | 9,864 | ||
Revvity Inc. | 2.250% | 9/15/31 | 8,199 | 6,465 | ||
Royalty Pharma plc | 2.200% | 9/2/30 | 14,633 | 11,665 | ||
Royalty Pharma plc | 2.150% | 9/2/31 | 24,659 | 19,094 | ||
1 | Rush Obligated Group | 3.922% | 11/15/29 | 8,106 | 7,496 | |
Smith & Nephew plc | 2.032% | 10/14/30 | 24,547 | 19,420 | ||
1 | Stanford Health Care | 3.310% | 8/15/30 | 7,540 | 6,726 | |
STERIS Irish FinCo Unltd. Co. | 2.700% | 3/15/31 | 14,913 | 12,319 | ||
Stryker Corp. | 1.950% | 6/15/30 | 19,666 | 16,230 | ||
1 | Sutter Health | 3.695% | 8/15/28 | 3,286 | 3,087 | |
1 | Sutter Health | 2.294% | 8/15/30 | 17,350 | 14,341 | |
Sutter Health | 5.164% | 8/15/33 | 2,750 | 2,709 | ||
Takeda Pharmaceutical Co. Ltd. | 5.000% | 11/26/28 | 49,770 | 49,320 | ||
Takeda Pharmaceutical Co. Ltd. | 2.050% | 3/31/30 | 50,881 | 41,838 | ||
Thermo Fisher Scientific Inc. | 1.750% | 10/15/28 | 27,975 | 24,083 | ||
Thermo Fisher Scientific Inc. | 2.600% | 10/1/29 | 18,200 | 15,960 | ||
Thermo Fisher Scientific Inc. | 2.000% | 10/15/31 | 35,875 | 28,897 | ||
Thermo Fisher Scientific Inc. | 4.950% | 11/21/32 | 18,103 | 18,065 | ||
Thermo Fisher Scientific Inc. | 5.086% | 8/10/33 | 24,000 | 24,114 | ||
UnitedHealth Group Inc. | 3.875% | 12/15/28 | 20,272 | 19,361 | ||
UnitedHealth Group Inc. | 4.250% | 1/15/29 | 31,153 | 30,194 | ||
UnitedHealth Group Inc. | 4.000% | 5/15/29 | 9,558 | 9,125 | ||
UnitedHealth Group Inc. | 2.875% | 8/15/29 | 36,274 | 32,569 | ||
UnitedHealth Group Inc. | 5.300% | 2/15/30 | 35,032 | 35,742 | ||
UnitedHealth Group Inc. | 2.000% | 5/15/30 | 15,904 | 13,268 | ||
UnitedHealth Group Inc. | 2.300% | 5/15/31 | 50,087 | 41,816 | ||
UnitedHealth Group Inc. | 4.200% | 5/15/32 | 37,301 | 35,224 | ||
UnitedHealth Group Inc. | 5.350% | 2/15/33 | 32,120 | 32,949 | ||
UnitedHealth Group Inc. | 4.500% | 4/15/33 | 38,640 | 37,211 | ||
Universal Health Services Inc. | 2.650% | 10/15/30 | 16,163 | 13,003 | ||
Universal Health Services Inc. | 2.650% | 1/15/32 | 12,294 | 9,552 | ||
UPMC | 5.035% | 5/15/33 | 12,130 | 11,901 | ||
Viatris Inc. | 2.700% | 6/22/30 | 32,114 | 26,065 | ||
Zimmer Biomet Holdings Inc. | 2.600% | 11/24/31 | 17,988 | 14,656 | ||
Zoetis Inc. | 3.900% | 8/20/28 | 8,656 | 8,274 | ||
Zoetis Inc. | 2.000% | 5/15/30 | 21,791 | 17,944 | ||
Zoetis Inc. | 5.600% | 11/16/32 | 22,867 | 23,582 | ||
3,958,024 | ||||||
Industrials (6.1%) | ||||||
1 | 3M Co. | 3.625% | 9/14/28 | 5,815 | 5,440 | |
1 | 3M Co. | 3.375% | 3/1/29 | 20,048 | 18,352 | |
3M Co. | 2.375% | 8/26/29 | 19,645 | 16,883 | ||
3M Co. | 3.050% | 4/15/30 | 14,579 | 13,013 | ||
Acuity Brands Lighting Inc. | 2.150% | 12/15/30 | 12,462 | 9,978 | ||
Allegion plc | 3.500% | 10/1/29 | 13,386 | 11,940 | ||
Allegion US Holding Co. Inc. | 5.411% | 7/1/32 | 14,455 | 14,075 | ||
1 | American Airlines Pass-Through Trust Class A Series 2021-1 | 2.875% | 7/11/34 | 3,644 | 3,008 | |
1 | American Airlines Pass-Through Trust Class AA Series 2016-3 | 3.000% | 10/15/28 | 6,610 | 5,909 | |
1 | American Airlines Pass-Through Trust Class AA Series 2017-1 | 3.650% | 2/15/29 | 9,573 | 8,734 | |
1 | American Airlines Pass-Through Trust Class AA Series 2017-2 | 3.350% | 10/15/29 | 9,812 | 8,808 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | American Airlines Pass-Through Trust Class AA Series 2019-1 | 3.150% | 2/15/32 | 10,973 | 9,533 | |
Amphenol Corp. | 4.350% | 6/1/29 | 13,546 | 13,039 | ||
Amphenol Corp. | 2.800% | 2/15/30 | 24,993 | 21,770 | ||
Amphenol Corp. | 2.200% | 9/15/31 | 16,236 | 13,130 | ||
Boeing Co. | 3.450% | 11/1/28 | 9,387 | 8,598 | ||
Boeing Co. | 3.200% | 3/1/29 | 33,167 | 29,813 | ||
Boeing Co. | 2.950% | 2/1/30 | 16,382 | 14,179 | ||
Boeing Co. | 5.150% | 5/1/30 | 134,142 | 131,939 | ||
Boeing Co. | 3.625% | 2/1/31 | 26,889 | 24,006 | ||
Canadian National Railway Co. | 3.850% | 8/5/32 | 15,353 | 14,154 | ||
Canadian Pacific Railway Co. | 2.875% | 11/15/29 | 11,399 | 10,027 | ||
Canadian Pacific Railway Co. | 2.050% | 3/5/30 | 28,365 | 23,534 | ||
Canadian Pacific Railway Co. | 7.125% | 10/15/31 | 8,543 | 9,512 | ||
Canadian Pacific Railway Co. | 2.450% | 12/2/31 | 37,572 | 33,325 | ||
Carrier Global Corp. | 2.722% | 2/15/30 | 54,394 | 46,619 | ||
Carrier Global Corp. | 2.700% | 2/15/31 | 13,295 | 11,148 | ||
Caterpillar Inc. | 2.600% | 9/19/29 | 6,810 | 6,091 | ||
Caterpillar Inc. | 2.600% | 4/9/30 | 28,827 | 25,355 | ||
Caterpillar Inc. | 1.900% | 3/12/31 | 3,939 | 3,306 | ||
CSX Corp. | 4.250% | 3/15/29 | 30,675 | 29,582 | ||
CSX Corp. | 2.400% | 2/15/30 | 8,657 | 7,396 | ||
CSX Corp. | 4.100% | 11/15/32 | 30,879 | 28,988 | ||
Cummins Inc. | 1.500% | 9/1/30 | 15,312 | 12,307 | ||
Deere & Co. | 5.375% | 10/16/29 | 11,721 | 12,094 | ||
Deere & Co. | 3.100% | 4/15/30 | 30,743 | 27,808 | ||
1 | Delta Air Lines Pass-Through Trust Class AA Series 2020-1 | 2.000% | 6/10/28 | 13,873 | 12,235 | |
Dover Corp. | 2.950% | 11/4/29 | 5,719 | 5,030 | ||
Eaton Corp. | 4.000% | 11/2/32 | 21,303 | 19,904 | ||
Eaton Corp. | 4.150% | 3/15/33 | 33,934 | 31,946 | ||
Emerson Electric Co. | 2.000% | 12/21/28 | 33,025 | 28,695 | ||
Emerson Electric Co. | 1.950% | 10/15/30 | ��15,381 | 12,659 | ||
Emerson Electric Co. | 2.200% | 12/21/31 | 19,580 | 16,097 | ||
FedEx Corp. | 4.200% | 10/17/28 | 10,049 | 9,685 | ||
FedEx Corp. | 3.100% | 8/5/29 | 19,661 | 17,609 | ||
FedEx Corp. | 4.250% | 5/15/30 | 9,861 | 9,347 | ||
FedEx Corp. | 2.400% | 5/15/31 | 20,389 | 16,834 | ||
Flowserve Corp. | 3.500% | 10/1/30 | 23,575 | 20,197 | ||
General Dynamics Corp. | 3.625% | 4/1/30 | 33,505 | 31,173 | ||
General Dynamics Corp. | 2.250% | 6/1/31 | 9,474 | 7,916 | ||
GXO Logistics Inc. | 2.650% | 7/15/31 | 3,693 | 2,890 | ||
HEICO Corp. | 5.350% | 8/1/33 | 15,390 | 15,247 | ||
Honeywell International Inc. | 4.250% | 1/15/29 | 14,960 | 14,530 | ||
Honeywell International Inc. | 2.700% | 8/15/29 | 13,950 | 12,416 | ||
Honeywell International Inc. | 1.950% | 6/1/30 | 26,783 | 22,279 | ||
Honeywell International Inc. | 1.750% | 9/1/31 | 20,760 | 16,486 | ||
Honeywell International Inc. | 5.000% | 2/15/33 | 22,863 | 23,040 | ||
Honeywell International Inc. | 4.500% | 1/15/34 | 21,310 | 20,586 | ||
Huntington Ingalls Industries Inc. | 4.200% | 5/1/30 | 5,641 | 5,216 | ||
IDEX Corp. | 3.000% | 5/1/30 | 23,411 | 20,337 | ||
Ingersoll Rand Inc. | 5.700% | 8/14/33 | 24,000 | 24,328 | ||
Jacobs Engineering Group Inc. | 5.900% | 3/1/33 | 10,614 | 10,495 | ||
1 | JetBlue Pass-Through Trust Class A Series 2020-1 | 4.000% | 11/15/32 | 8,723 | 7,998 | |
1 | JetBlue Pass-Through Trust Class AA Series 2019-1 | 2.750% | 5/15/32 | 3,405 | 2,891 | |
1 | John Deere Capital Corp. | 3.450% | 3/7/29 | 23,988 | 22,332 | |
1 | John Deere Capital Corp. | 3.350% | 4/18/29 | 2,350 | 2,182 | |
1 | John Deere Capital Corp. | 2.800% | 7/18/29 | 18,235 | 16,445 | |
1 | John Deere Capital Corp. | 2.450% | 1/9/30 | 14,330 | 12,481 | |
1 | John Deere Capital Corp. | 4.700% | 6/10/30 | 26,850 | 26,511 | |
John Deere Capital Corp. | 1.450% | 1/15/31 | 13,690 | 10,847 | ||
1 | John Deere Capital Corp. | 3.900% | 6/7/32 | 21,467 | 19,998 | |
1 | John Deere Capital Corp. | 4.350% | 9/15/32 | 18,200 | 17,648 | |
Johnson Controls International plc | 1.750% | 9/15/30 | 21,014 | 16,826 | ||
Johnson Controls International plc | 2.000% | 9/16/31 | 3,582 | 2,823 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Johnson Controls International plc | 4.900% | 12/1/32 | 5,829 | 5,731 | ||
Kennametal Inc. | 2.800% | 3/1/31 | 4,698 | 3,764 | ||
Keysight Technologies Inc. | 3.000% | 10/30/29 | 10,299 | 9,019 | ||
L3Harris Technologies Inc. | 1.800% | 1/15/31 | 20,922 | 16,470 | ||
L3Harris Technologies Inc. | 5.400% | 7/31/33 | 21,230 | 21,269 | ||
Lockheed Martin Corp. | 1.850% | 6/15/30 | 13,687 | 11,349 | ||
Lockheed Martin Corp. | 3.900% | 6/15/32 | 24,713 | 22,952 | ||
Lockheed Martin Corp. | 5.250% | 1/15/33 | 33,514 | 34,362 | ||
Norfolk Southern Corp. | 2.550% | 11/1/29 | 15,439 | 13,313 | ||
Norfolk Southern Corp. | 5.050% | 8/1/30 | 16,115 | 15,951 | ||
Norfolk Southern Corp. | 2.300% | 5/15/31 | 8,131 | 6,703 | ||
Norfolk Southern Corp. | 3.000% | 3/15/32 | 16,118 | 13,715 | ||
Northrop Grumman Corp. | 4.400% | 5/1/30 | 15,994 | 15,375 | ||
Northrop Grumman Corp. | 4.700% | 3/15/33 | 30,741 | 29,761 | ||
nVent Finance Sarl | 2.750% | 11/15/31 | 7,389 | 5,830 | ||
nVent Finance Sarl | 5.650% | 5/15/33 | 12,312 | 11,914 | ||
Oshkosh Corp. | 3.100% | 3/1/30 | 8,496 | 7,475 | ||
Otis Worldwide Corp. | 2.565% | 2/15/30 | 46,315 | 39,594 | ||
Parker-Hannifin Corp. | 3.250% | 6/14/29 | 41,080 | 37,142 | ||
Parker-Hannifin Corp. | 4.500% | 9/15/29 | 30,164 | 29,156 | ||
Pentair Finance Sarl | 4.500% | 7/1/29 | 15,079 | 14,095 | ||
Pentair Finance Sarl | 5.900% | 7/15/32 | 9,694 | 9,807 | ||
2 | Regal Rexnord Corp. | 6.300% | 2/15/30 | 27,585 | 27,428 | |
2 | Regal Rexnord Corp. | 6.400% | 4/15/33 | 28,291 | 27,977 | |
Republic Services Inc. | 4.875% | 4/1/29 | 11,105 | 10,948 | ||
Republic Services Inc. | 2.300% | 3/1/30 | 22,432 | 18,988 | ||
Republic Services Inc. | 1.450% | 2/15/31 | 24,066 | 18,618 | ||
Republic Services Inc. | 1.750% | 2/15/32 | 12,541 | 9,702 | ||
Republic Services Inc. | 5.000% | 4/1/34 | 14,575 | 14,314 | ||
Rockwell Automation Inc. | 3.500% | 3/1/29 | 13,868 | 12,998 | ||
Rockwell Automation Inc. | 1.750% | 8/15/31 | 5,410 | 4,298 | ||
RTX Corp. | 4.125% | 11/16/28 | 33,653 | 32,109 | ||
RTX Corp. | 2.250% | 7/1/30 | 25,067 | 20,795 | ||
RTX Corp. | 1.900% | 9/1/31 | 15,719 | 12,305 | ||
RTX Corp. | 2.375% | 3/15/32 | 46,391 | 37,296 | ||
RTX Corp. | 5.150% | 2/27/33 | 47,047 | 46,463 | ||
Southwest Airlines Co. | 2.625% | 2/10/30 | 15,942 | 13,457 | ||
1 | Spirit Airlines Pass-Through Trust Class A Series 2015-1 | 4.100% | 4/1/28 | 1,841 | 1,696 | |
Teledyne Technologies Inc. | 2.750% | 4/1/31 | 34,674 | 28,908 | ||
Textron Inc. | 3.900% | 9/17/29 | 13,667 | 12,568 | ||
Textron Inc. | 3.000% | 6/1/30 | 11,818 | 10,231 | ||
Textron Inc. | 2.450% | 3/15/31 | 12,373 | 10,159 | ||
Timken Co. | 4.500% | 12/15/28 | 9,743 | 9,232 | ||
Timken Co. | 4.125% | 4/1/32 | 9,705 | 8,661 | ||
Trane Technologies Financing Ltd. | 5.250% | 3/3/33 | 16,800 | 16,772 | ||
Trane Technologies Luxembourg Finance SA | 3.800% | 3/21/29 | 9,028 | 8,423 | ||
Trimble Inc. | 6.100% | 3/15/33 | 21,195 | 21,419 | ||
2 | Triton Container International Ltd. | 3.150% | 6/15/31 | 10,045 | 7,724 | |
Triton Container International Ltd. | 3.250% | 3/15/32 | 9,092 | 7,053 | ||
Tyco Electronics Group SA | 2.500% | 2/4/32 | 10,890 | 9,075 | ||
Union Pacific Corp. | 3.950% | 9/10/28 | 21,615 | 20,807 | ||
Union Pacific Corp. | 6.625% | 2/1/29 | 6,066 | 6,574 | ||
Union Pacific Corp. | 3.700% | 3/1/29 | 14,991 | 14,201 | ||
Union Pacific Corp. | 2.400% | 2/5/30 | 21,817 | 18,757 | ||
Union Pacific Corp. | 2.375% | 5/20/31 | 18,980 | 15,928 | ||
Union Pacific Corp. | 2.800% | 2/14/32 | 25,609 | 21,866 | ||
Union Pacific Corp. | 4.500% | 1/20/33 | 18,616 | 18,034 | ||
Union Pacific Corp. | 2.891% | 4/6/36 | 3,400 | 2,682 | ||
1 | United Airlines Pass-Through Trust Class A Series 2023-1 | 5.800% | 1/15/36 | 12,500 | 12,462 | |
1 | United Airlines Pass-Through Trust Class AA Series 2016-2 | 2.875% | 10/7/28 | 7,517 | 6,658 | |
1 | United Airlines Pass-Through Trust Class AA Series 2018-1 | 3.500% | 3/1/30 | 3,616 | 3,240 | |
1 | United Airlines Pass-Through Trust Class AA Series 2019-1 | 4.150% | 8/25/31 | 7,044 | 6,488 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | United Airlines Pass-Through Trust Class AA Series 2019-2 | 2.700% | 5/1/32 | 9,866 | 8,304 | |
United Parcel Service Inc. | 3.400% | 3/15/29 | 19,231 | 17,995 | ||
United Parcel Service Inc. | 2.500% | 9/1/29 | 11,026 | 9,771 | ||
United Parcel Service Inc. | 4.450% | 4/1/30 | 25,501 | 25,111 | ||
United Parcel Service Inc. | 4.875% | 3/3/33 | 25,670 | 25,612 | ||
1 | US Airways Pass-Through Trust Class A Series 2012-1 | 5.900% | 10/1/24 | 432 | 430 | |
Vontier Corp. | 2.950% | 4/1/31 | 17,048 | 13,507 | ||
Waste Connections Inc. | 4.250% | 12/1/28 | 12,031 | 11,564 | ||
Waste Connections Inc. | 3.500% | 5/1/29 | 7,127 | 6,573 | ||
Waste Connections Inc. | 2.600% | 2/1/30 | 13,774 | 11,858 | ||
Waste Connections Inc. | 2.200% | 1/15/32 | 17,505 | 13,962 | ||
Waste Connections Inc. | 3.200% | 6/1/32 | 8,809 | 7,559 | ||
Waste Connections Inc. | 4.200% | 1/15/33 | 18,291 | 16,890 | ||
Waste Management Inc. | 4.875% | 2/15/29 | 10,047 | 9,946 | ||
Waste Management Inc. | 2.000% | 6/1/29 | 9,569 | 8,107 | ||
Waste Management Inc. | 4.625% | 2/15/30 | 13,673 | 13,365 | ||
Waste Management Inc. | 1.500% | 3/15/31 | 24,605 | 19,161 | ||
Waste Management Inc. | 4.150% | 4/15/32 | 26,183 | 24,536 | ||
Waste Management Inc. | 4.625% | 2/15/33 | 11,322 | 10,884 | ||
Waste Management Inc. | 4.875% | 2/15/34 | 5,000 | 4,882 | ||
Westinghouse Air Brake Technologies Corp. | 4.950% | 9/15/28 | 29,137 | 28,100 | ||
Xylem Inc. | 2.250% | 1/30/31 | 12,588 | 10,341 | ||
2,550,071 | ||||||
Materials (3.1%) | ||||||
Air Products and Chemicals Inc. | 2.050% | 5/15/30 | 23,057 | 19,463 | ||
Air Products and Chemicals Inc. | 4.800% | 3/3/33 | 16,354 | 16,244 | ||
Albemarle Corp. | 5.050% | 6/1/32 | 15,841 | 14,917 | ||
Amcor Finance USA Inc. | 5.625% | 5/26/33 | 14,322 | 14,236 | ||
1 | Amcor Flexibles North America Inc. | 3.100% | 9/15/26 | 6,123 | 5,627 | |
Amcor Flexibles North America Inc. | 2.630% | 6/19/30 | 15,229 | 12,536 | ||
Amcor Flexibles North America Inc. | 2.690% | 5/25/31 | 13,970 | 11,384 | ||
AngloGold Ashanti Holdings plc | 3.375% | 11/1/28 | 16,825 | 14,517 | ||
AngloGold Ashanti Holdings plc | 3.750% | 10/1/30 | 16,421 | 13,614 | ||
AptarGroup Inc. | 3.600% | 3/15/32 | 6,020 | 5,126 | ||
ArcelorMittal SA | 4.250% | 7/16/29 | 15,063 | 14,265 | ||
ArcelorMittal SA | 6.800% | 11/29/32 | 23,285 | 23,954 | ||
BHP Billiton Finance USA Ltd. | 4.900% | 2/28/33 | 22,459 | 22,130 | ||
Cabot Corp. | 4.000% | 7/1/29 | 6,460 | 5,954 | ||
Cabot Corp. | 5.000% | 6/30/32 | 11,143 | 10,503 | ||
Carlisle Cos. Inc. | 3.750% | 12/1/27 | 4,305 | 4,061 | ||
Carlisle Cos. Inc. | 2.750% | 3/1/30 | 12,835 | 10,866 | ||
Carlisle Cos. Inc. | 2.200% | 3/1/32 | 13,610 | 10,711 | ||
Celanese US Holdings LLC | 6.350% | 11/15/28 | 20,000 | 20,065 | ||
Celanese US Holdings LLC | 6.330% | 7/15/29 | 21,302 | 21,170 | ||
Celanese US Holdings LLC | 6.550% | 11/15/30 | 21,000 | 21,005 | ||
Celanese US Holdings LLC | 6.379% | 7/15/32 | 24,937 | 24,686 | ||
Dow Chemical Co. | 4.800% | 11/30/28 | 10,589 | 10,434 | ||
Dow Chemical Co. | 7.375% | 11/1/29 | 23,465 | 25,738 | ||
Dow Chemical Co. | 2.100% | 11/15/30 | 5,069 | 4,134 | ||
Dow Chemical Co. | 6.300% | 3/15/33 | 14,174 | 15,019 | ||
DuPont de Nemours Inc. | 4.725% | 11/15/28 | 43,207 | 42,629 | ||
Eagle Materials Inc. | 2.500% | 7/1/31 | 18,683 | 15,096 | ||
Eastman Chemical Co. | 4.500% | 12/1/28 | 5,130 | 4,904 | ||
Eastman Chemical Co. | 5.750% | 3/8/33 | 15,805 | 15,555 | ||
Ecolab Inc. | 4.800% | 3/24/30 | 18,912 | 18,790 | ||
Ecolab Inc. | 1.300% | 1/30/31 | 13,481 | 10,507 | ||
Ecolab Inc. | 2.125% | 2/1/32 | 15,594 | 12,698 | ||
EIDP Inc. | 2.300% | 7/15/30 | 12,580 | 10,429 | ||
EIDP Inc. | 4.800% | 5/15/33 | 14,615 | 14,053 | ||
FMC Corp. | 3.450% | 10/1/29 | 11,726 | 10,220 | ||
FMC Corp. | 5.650% | 5/18/33 | 15,337 | 14,606 | ||
Freeport-McMoRan Inc. | 5.250% | 9/1/29 | 16,579 | 16,069 | ||
Freeport-McMoRan Inc. | 4.250% | 3/1/30 | 14,393 | 13,072 | ||
Freeport-McMoRan Inc. | 4.625% | 8/1/30 | 5,570 | 5,146 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Georgia-Pacific LLC | 7.750% | 11/15/29 | 19,849 | 22,332 | ||
2 | Georgia-Pacific LLC | 2.300% | 4/30/30 | 3,567 | 2,995 | |
Georgia-Pacific LLC | 8.875% | 5/15/31 | 2,492 | 3,033 | ||
Huntsman International LLC | 4.500% | 5/1/29 | 19,909 | 18,435 | ||
Huntsman International LLC | 2.950% | 6/15/31 | 8,495 | 6,781 | ||
International Flavors & Fragrances Inc. | 4.450% | 9/26/28 | 5,897 | 5,511 | ||
2 | Kinross Gold Corp. | 6.250% | 7/15/33 | 9,426 | 9,298 | |
Linde Inc. | 1.100% | 8/10/30 | 15,573 | 12,286 | ||
LYB International Finance III LLC | 2.250% | 10/1/30 | 12,939 | 10,508 | ||
LYB International Finance III LLC | 5.625% | 5/15/33 | 12,095 | 11,973 | ||
1 | Martin Marietta Materials Inc. | 2.500% | 3/15/30 | 10,346 | 8,690 | |
Martin Marietta Materials Inc. | 2.400% | 7/15/31 | 9,541 | 7,713 | ||
NewMarket Corp. | 2.700% | 3/18/31 | 9,175 | 7,444 | ||
Newmont Corp. | 2.800% | 10/1/29 | 4,533 | 3,911 | ||
Newmont Corp. | 2.250% | 10/1/30 | 30,378 | 24,680 | ||
Newmont Corp. | 2.600% | 7/15/32 | 27,839 | 22,373 | ||
Nucor Corp. | 2.700% | 6/1/30 | 13,687 | 11,730 | ||
Nucor Corp. | 3.125% | 4/1/32 | 13,229 | 11,266 | ||
Nutrien Ltd. | 4.200% | 4/1/29 | 26,464 | 24,895 | ||
Nutrien Ltd. | 2.950% | 5/13/30 | 3,356 | 2,893 | ||
Packaging Corp. of America | 3.000% | 12/15/29 | 12,221 | 10,669 | ||
PPG Industries Inc. | 2.800% | 8/15/29 | 9,938 | 8,762 | ||
PPG Industries Inc. | 2.550% | 6/15/30 | 12,534 | 10,610 | ||
Reliance Steel & Aluminum Co. | 2.150% | 8/15/30 | 12,449 | 10,057 | ||
Rio Tinto Alcan Inc. | 7.250% | 3/15/31 | 11,712 | 13,171 | ||
Rio Tinto Finance USA plc | 5.000% | 3/9/33 | 13,300 | 13,212 | ||
Rohm & Haas Co. | 7.850% | 7/15/29 | 22,331 | 24,696 | ||
RPM International Inc. | 4.550% | 3/1/29 | 9,022 | 8,465 | ||
RPM International Inc. | 2.950% | 1/15/32 | 7,072 | 5,672 | ||
Sherwin-Williams Co. | 2.950% | 8/15/29 | 18,702 | 16,482 | ||
Sherwin-Williams Co. | 2.300% | 5/15/30 | 14,705 | 12,254 | ||
Sherwin-Williams Co. | 2.200% | 3/15/32 | 8,938 | 7,092 | ||
Sonoco Products Co. | 3.125% | 5/1/30 | 16,810 | 14,510 | ||
Sonoco Products Co. | 2.850% | 2/1/32 | 15,002 | 12,295 | ||
Steel Dynamics Inc. | 3.450% | 4/15/30 | 13,934 | 12,367 | ||
Steel Dynamics Inc. | 3.250% | 1/15/31 | 17,418 | 15,176 | ||
Suzano Austria GmbH | 2.500% | 9/15/28 | 10,027 | 8,554 | ||
Suzano Austria GmbH | 6.000% | 1/15/29 | 41,469 | 41,177 | ||
Suzano Austria GmbH | 5.000% | 1/15/30 | 29,168 | 27,102 | ||
Suzano Austria GmbH | 3.750% | 1/15/31 | 27,346 | 23,176 | ||
1 | Suzano Austria GmbH | 3.125% | 1/15/32 | 22,353 | 17,651 | |
Teck Resources Ltd. | 3.900% | 7/15/30 | 13,472 | 11,993 | ||
Vale Overseas Ltd. | 3.750% | 7/8/30 | 36,608 | 32,080 | ||
Vale Overseas Ltd. | 6.125% | 6/12/33 | 36,520 | 36,243 | ||
Vulcan Materials Co. | 3.500% | 6/1/30 | 18,059 | 16,179 | ||
Westlake Corp. | 3.375% | 6/15/30 | 7,472 | 6,473 | ||
WestRock MWV LLC | 8.200% | 1/15/30 | 7,564 | 8,544 | ||
WestRock MWV LLC | 7.950% | 2/15/31 | 6,547 | 7,359 | ||
WRKCo Inc. | 4.900% | 3/15/29 | 26,529 | 25,543 | ||
WRKCo Inc. | 4.200% | 6/1/32 | 4,636 | 4,224 | ||
WRKCo Inc. | 3.000% | 6/15/33 | 14,937 | 12,095 | ||
Yamana Gold Inc. | 2.630% | 8/15/31 | 7,111 | 5,607 | ||
1,284,370 | ||||||
Real Estate (6.1%) | ||||||
Agree LP | 2.900% | 10/1/30 | 5,262 | 4,362 | ||
Agree LP | 4.800% | 10/1/32 | 13,148 | 12,108 | ||
Alexandria Real Estate Equities Inc. | 3.950% | 1/15/28 | 1 | 1 | ||
Alexandria Real Estate Equities Inc. | 4.500% | 7/30/29 | 9,822 | 9,296 | ||
Alexandria Real Estate Equities Inc. | 2.750% | 12/15/29 | 18,143 | 15,375 | ||
Alexandria Real Estate Equities Inc. | 4.700% | 7/1/30 | 15,092 | 14,287 | ||
Alexandria Real Estate Equities Inc. | 4.900% | 12/15/30 | 14,774 | 14,294 | ||
Alexandria Real Estate Equities Inc. | 3.375% | 8/15/31 | 7,754 | 6,685 | ||
Alexandria Real Estate Equities Inc. | 2.000% | 5/18/32 | 19,137 | 14,496 | ||
Alexandria Real Estate Equities Inc. | 1.875% | 2/1/33 | 20,941 | 15,429 | ||
American Assets Trust LP | 3.375% | 2/1/31 | 14,050 | 10,864 | ||
American Homes 4 Rent LP | 4.900% | 2/15/29 | 14,108 | 13,565 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
American Homes 4 Rent LP | 2.375% | 7/15/31 | 17,069 | 13,506 | ||
American Homes 4 Rent LP | 3.625% | 4/15/32 | 22,088 | 18,899 | ||
American Tower Corp. | 3.950% | 3/15/29 | 12,994 | 11,959 | ||
American Tower Corp. | 3.800% | 8/15/29 | 40,353 | 36,683 | ||
American Tower Corp. | 2.900% | 1/15/30 | 22,735 | 19,381 | ||
American Tower Corp. | 2.100% | 6/15/30 | 21,154 | 16,900 | ||
American Tower Corp. | 1.875% | 10/15/30 | 18,632 | 14,503 | ||
American Tower Corp. | 2.700% | 4/15/31 | 12,647 | 10,333 | ||
American Tower Corp. | 2.300% | 9/15/31 | 2,592 | 2,028 | ||
American Tower Corp. | 4.050% | 3/15/32 | 18,599 | 16,594 | ||
American Tower Corp. | 5.650% | 3/15/33 | 23,566 | 23,474 | ||
American Tower Corp. | 5.550% | 7/15/33 | 24,241 | 23,995 | ||
AvalonBay Communities Inc. | 1.900% | 12/1/28 | 18,188 | 15,542 | ||
1 | AvalonBay Communities Inc. | 3.300% | 6/1/29 | 5,272 | 4,773 | |
1 | AvalonBay Communities Inc. | 2.300% | 3/1/30 | 8,609 | 7,194 | |
1 | AvalonBay Communities Inc. | 2.450% | 1/15/31 | 10,090 | 8,386 | |
AvalonBay Communities Inc. | 2.050% | 1/15/32 | 8,412 | 6,743 | ||
AvalonBay Communities Inc. | 5.000% | 2/15/33 | 8,723 | 8,634 | ||
Boston Properties LP | 4.500% | 12/1/28 | 17,089 | 15,772 | ||
Boston Properties LP | 3.400% | 6/21/29 | 26,079 | 22,333 | ||
Boston Properties LP | 2.900% | 3/15/30 | 20,525 | 16,698 | ||
Boston Properties LP | 3.250% | 1/30/31 | 45,610 | 37,135 | ||
Boston Properties LP | 2.550% | 4/1/32 | 14,815 | 11,097 | ||
Brandywine Operating Partnership LP | 4.550% | 10/1/29 | 8,620 | 6,769 | ||
Brixmor Operating Partnership LP | 4.125% | 5/15/29 | 17,006 | 15,471 | ||
Brixmor Operating Partnership LP | 4.050% | 7/1/30 | 12,659 | 11,447 | ||
Brixmor Operating Partnership LP | 2.500% | 8/16/31 | 14,900 | 11,713 | ||
Broadstone Net Lease LLC | 2.600% | 9/15/31 | 10,050 | 7,236 | ||
Camden Property Trust | 4.100% | 10/15/28 | 11,338 | 10,792 | ||
Camden Property Trust | 3.150% | 7/1/29 | 4,339 | 3,899 | ||
Camden Property Trust | 2.800% | 5/15/30 | 17,748 | 15,405 | ||
CBRE Services Inc. | 2.500% | 4/1/31 | 12,715 | 10,199 | ||
Corporate Office Properties LP | 2.000% | 1/15/29 | 3,652 | 2,879 | ||
Corporate Office Properties LP | 2.750% | 4/15/31 | 19,014 | 14,654 | ||
Crown Castle Inc. | 4.800% | 9/1/28 | 17,650 | 17,136 | ||
Crown Castle Inc. | 4.300% | 2/15/29 | 3,723 | 3,499 | ||
Crown Castle Inc. | 3.100% | 11/15/29 | 9,323 | 8,112 | ||
Crown Castle Inc. | 3.300% | 7/1/30 | 26,500 | 23,035 | ||
Crown Castle Inc. | 2.250% | 1/15/31 | 22,389 | 17,960 | ||
Crown Castle Inc. | 2.100% | 4/1/31 | 28,736 | 22,637 | ||
Crown Castle Inc. | 2.500% | 7/15/31 | 18,649 | 15,036 | ||
Crown Castle Inc. | 5.100% | 5/1/33 | 19,913 | 19,150 | ||
CubeSmart LP | 2.250% | 12/15/28 | 17,913 | 15,201 | ||
CubeSmart LP | 4.375% | 2/15/29 | 11,587 | 10,849 | ||
CubeSmart LP | 3.000% | 2/15/30 | 7,685 | 6,558 | ||
CubeSmart LP | 2.000% | 2/15/31 | 16,480 | 12,806 | ||
CubeSmart LP | 2.500% | 2/15/32 | 5,498 | 4,332 | ||
Digital Realty Trust LP | 3.600% | 7/1/29 | 22,945 | 20,656 | ||
EPR Properties | 3.750% | 8/15/29 | 12,498 | 10,207 | ||
EPR Properties | 3.600% | 11/15/31 | 9,766 | 7,472 | ||
Equinix Inc. | 3.200% | 11/18/29 | 26,104 | 22,886 | ||
Equinix Inc. | 2.150% | 7/15/30 | 24,620 | 19,860 | ||
Equinix Inc. | 2.500% | 5/15/31 | 25,062 | 20,326 | ||
Equinix Inc. | 3.900% | 4/15/32 | 28,391 | 25,262 | ||
ERP Operating LP | 4.150% | 12/1/28 | 11,497 | 10,948 | ||
ERP Operating LP | 3.000% | 7/1/29 | 16,430 | 14,601 | ||
ERP Operating LP | 2.500% | 2/15/30 | 10,466 | 8,881 | ||
ERP Operating LP | 1.850% | 8/1/31 | 16,248 | 12,684 | ||
Essential Properties LP | 2.950% | 7/15/31 | 10,324 | 7,733 | ||
Essex Portfolio LP | 4.000% | 3/1/29 | 14,727 | 13,591 | ||
Essex Portfolio LP | 3.000% | 1/15/30 | 11,806 | 10,066 | ||
Essex Portfolio LP | 1.650% | 1/15/31 | 10,191 | 7,694 | ||
Essex Portfolio LP | 2.550% | 6/15/31 | 3,509 | 2,808 | ||
Essex Portfolio LP | 2.650% | 3/15/32 | 17,178 | 13,668 | ||
Extra Space Storage LP | 3.900% | 4/1/29 | 7,542 | 6,904 | ||
Extra Space Storage LP | 4.000% | 6/15/29 | 12,680 | 11,590 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Extra Space Storage LP | 5.500% | 7/1/30 | 8,025 | 7,953 | ||
Extra Space Storage LP | 2.200% | 10/15/30 | 5,214 | 4,159 | ||
Extra Space Storage LP | 2.550% | 6/1/31 | 16,375 | 13,132 | ||
Extra Space Storage LP | 2.400% | 10/15/31 | 14,777 | 11,597 | ||
Extra Space Storage LP | 2.350% | 3/15/32 | 14,704 | 11,427 | ||
Federal Realty OP LP | 3.200% | 6/15/29 | 8,482 | 7,320 | ||
Federal Realty OP LP | 3.500% | 6/1/30 | 10,013 | 8,756 | ||
GLP Capital LP | 5.300% | 1/15/29 | 18,270 | 17,251 | ||
GLP Capital LP | 4.000% | 1/15/30 | 21,396 | 18,696 | ||
GLP Capital LP | 4.000% | 1/15/31 | 15,848 | 13,577 | ||
GLP Capital LP | 3.250% | 1/15/32 | 16,904 | 13,625 | ||
Healthcare Realty Holdings LP | 3.100% | 2/15/30 | 15,820 | 13,490 | ||
Healthcare Realty Holdings LP | 2.000% | 3/15/31 | 16,424 | 12,658 | ||
Healthpeak OP LLC | 2.125% | 12/1/28 | 4,447 | 3,799 | ||
Healthpeak OP LLC | 3.500% | 7/15/29 | 15,819 | 14,219 | ||
Healthpeak OP LLC | 3.000% | 1/15/30 | 26,727 | 23,156 | ||
Healthpeak OP LLC | 2.875% | 1/15/31 | 14,704 | 12,311 | ||
Healthpeak OP LLC | 5.250% | 12/15/32 | 18,077 | 17,482 | ||
Highwoods Realty LP | 4.200% | 4/15/29 | 3,554 | 3,030 | ||
Highwoods Realty LP | 3.050% | 2/15/30 | 17,527 | 13,704 | ||
Highwoods Realty LP | 2.600% | 2/1/31 | 6,786 | 4,992 | ||
1 | Host Hotels & Resorts LP | 3.375% | 12/15/29 | 4,715 | 4,022 | |
1 | Host Hotels & Resorts LP | 3.500% | 9/15/30 | 21,636 | 18,457 | |
1 | Host Hotels & Resorts LP | 2.900% | 12/15/31 | 15,688 | 12,364 | |
Hudson Pacific Properties LP | 4.650% | 4/1/29 | 13,795 | 10,519 | ||
Hudson Pacific Properties LP | 3.250% | 1/15/30 | 7,962 | 5,407 | ||
Invitation Homes Operating Partnership LP | 2.300% | 11/15/28 | 19,132 | 16,265 | ||
Invitation Homes Operating Partnership LP | 5.450% | 8/15/30 | 2,251 | 2,205 | ||
Invitation Homes Operating Partnership LP | 2.000% | 8/15/31 | 6,604 | 5,053 | ||
Invitation Homes Operating Partnership LP | 4.150% | 4/15/32 | 18,351 | 16,327 | ||
Invitation Homes Operating Partnership LP | 5.500% | 8/15/33 | 6,693 | 6,482 | ||
Kilroy Realty LP | 4.750% | 12/15/28 | 11,492 | 10,349 | ||
Kilroy Realty LP | 4.250% | 8/15/29 | 419 | 363 | ||
Kilroy Realty LP | 3.050% | 2/15/30 | 15,331 | 12,249 | ||
Kilroy Realty LP | 2.500% | 11/15/32 | 1,873 | 1,320 | ||
Kimco Realty OP LLC | 2.700% | 10/1/30 | 4,025 | 3,318 | ||
Kimco Realty OP LLC | 2.250% | 12/1/31 | 7,783 | 6,036 | ||
Kimco Realty OP LLC | 3.200% | 4/1/32 | 23,377 | 19,378 | ||
Kimco Realty OP LLC | 4.600% | 2/1/33 | 18,979 | 17,420 | ||
Kite Realty Group Trust | 4.750% | 9/15/30 | 9,913 | 9,067 | ||
LXP Industrial Trust | 2.700% | 9/15/30 | 10,266 | 8,122 | ||
LXP Industrial Trust | 2.375% | 10/1/31 | 9,709 | 7,344 | ||
Mid-America Apartments LP | 3.950% | 3/15/29 | 14,799 | 13,892 | ||
Mid-America Apartments LP | 2.750% | 3/15/30 | 6,917 | 5,968 | ||
Mid-America Apartments LP | 1.700% | 2/15/31 | 8,374 | 6,601 | ||
National Health Investors Inc. | 3.000% | 2/1/31 | 11,888 | 9,013 | ||
NNN REIT Inc. | 4.300% | 10/15/28 | 7,035 | 6,604 | ||
NNN REIT Inc. | 2.500% | 4/15/30 | 6,158 | 5,095 | ||
NNN REIT Inc. | 5.600% | 10/15/33 | 5,594 | 5,489 | ||
Omega Healthcare Investors Inc. | 3.625% | 10/1/29 | 19,584 | 16,585 | ||
Omega Healthcare Investors Inc. | 3.375% | 2/1/31 | 10,571 | 8,523 | ||
Omega Healthcare Investors Inc. | 3.250% | 4/15/33 | 15,212 | 11,358 | ||
Phillips Edison Grocery Center Operating Partnership I LP | 2.625% | 11/15/31 | 7,013 | 5,256 | ||
Physicians Realty LP | 2.625% | 11/1/31 | 5,377 | 4,174 | ||
Piedmont Operating Partnership LP | 3.150% | 8/15/30 | 8,139 | 5,877 | ||
Piedmont Operating Partnership LP | 2.750% | 4/1/32 | 7,306 | 4,919 | ||
Prologis LP | 3.875% | 9/15/28 | 9,621 | 9,093 | ||
Prologis LP | 4.000% | 9/15/28 | 17,155 | 16,321 | ||
Prologis LP | 2.875% | 11/15/29 | 16,372 | 14,345 | ||
Prologis LP | 2.250% | 4/15/30 | 26,850 | 22,533 | ||
Prologis LP | 1.750% | 7/1/30 | 8,491 | 6,785 | ||
Prologis LP | 1.250% | 10/15/30 | 12,210 | 9,390 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Prologis LP | 1.750% | 2/1/31 | 8,802 | 6,945 | ||
Prologis LP | 1.625% | 3/15/31 | 9,596 | 7,454 | ||
Prologis LP | 2.250% | 1/15/32 | 14,970 | 12,000 | ||
Prologis LP | 4.625% | 1/15/33 | 17,443 | 16,730 | ||
Prologis LP | 4.750% | 6/15/33 | 18,847 | 18,062 | ||
Public Storage Operating Co. | 1.950% | 11/9/28 | 8,166 | 7,024 | ||
Public Storage Operating Co. | 5.125% | 1/15/29 | 4,179 | 4,172 | ||
Public Storage Operating Co. | 3.385% | 5/1/29 | 20,278 | 18,611 | ||
Public Storage Operating Co. | 2.300% | 5/1/31 | 8,590 | 7,061 | ||
Public Storage Operating Co. | 2.250% | 11/9/31 | 33,305 | 26,961 | ||
Public Storage Operating Co. | 5.100% | 8/1/33 | 9,700 | 9,617 | ||
Rayonier LP | 2.750% | 5/17/31 | 5,040 | 4,027 | ||
Realty Income Corp. | 3.650% | 1/15/28 | 1,395 | 1,306 | ||
Realty Income Corp. | 3.250% | 6/15/29 | 4,969 | 4,479 | ||
Realty Income Corp. | 3.100% | 12/15/29 | 4,794 | 4,237 | ||
Realty Income Corp. | 4.850% | 3/15/30 | 15,474 | 15,018 | ||
Realty Income Corp. | 3.250% | 1/15/31 | 21,869 | 18,885 | ||
Realty Income Corp. | 5.625% | 10/13/32 | 37,435 | 37,412 | ||
Realty Income Corp. | 2.850% | 12/15/32 | 20,278 | 16,433 | ||
Realty Income Corp. | 4.900% | 7/15/33 | 15,324 | 14,542 | ||
Regency Centers LP | 2.950% | 9/15/29 | 10,744 | 9,285 | ||
Regency Centers LP | 3.700% | 6/15/30 | 13,080 | 11,717 | ||
Rexford Industrial Realty LP | 2.125% | 12/1/30 | 9,140 | 7,134 | ||
Rexford Industrial Realty LP | 2.150% | 9/1/31 | 13,410 | 10,350 | ||
Sabra Health Care LP | 3.900% | 10/15/29 | 18,528 | 15,653 | ||
Sabra Health Care LP | 3.200% | 12/1/31 | 20,120 | 15,350 | ||
Safehold GL Holdings LLC | 2.800% | 6/15/31 | 11,575 | 8,919 | ||
Safehold GL Holdings LLC | 2.850% | 1/15/32 | 5,488 | 4,165 | ||
Simon Property Group LP | 3.375% | 6/15/27 | 5,672 | 5,292 | ||
Simon Property Group LP | 2.450% | 9/13/29 | 21,730 | 18,396 | ||
Simon Property Group LP | 2.650% | 7/15/30 | 22,450 | 18,890 | ||
Simon Property Group LP | 2.200% | 2/1/31 | 18,192 | 14,489 | ||
Simon Property Group LP | 2.250% | 1/15/32 | 13,175 | 10,195 | ||
Simon Property Group LP | 2.650% | 2/1/32 | 10,300 | 8,277 | ||
Simon Property Group LP | 5.500% | 3/8/33 | 8,365 | 8,227 | ||
Spirit Realty LP | 3.200% | 1/15/27 | 9 | 8 | ||
Spirit Realty LP | 4.000% | 7/15/29 | 16,587 | 14,896 | ||
Spirit Realty LP | 3.400% | 1/15/30 | 12,356 | 10,615 | ||
Spirit Realty LP | 3.200% | 2/15/31 | 7,429 | 6,124 | ||
Spirit Realty LP | 2.700% | 2/15/32 | 7,044 | 5,510 | ||
STORE Capital Corp. | 4.625% | 3/15/29 | 8,695 | 7,473 | ||
STORE Capital Corp. | 2.750% | 11/18/30 | 8,664 | 6,365 | ||
STORE Capital Corp. | 2.700% | 12/1/31 | 10,655 | 7,474 | ||
Sun Communities Operating LP | 2.300% | 11/1/28 | 10,240 | 8,615 | ||
Sun Communities Operating LP | 2.700% | 7/15/31 | 25,506 | 20,253 | ||
Sun Communities Operating LP | 4.200% | 4/15/32 | 13,785 | 12,118 | ||
Sun Communities Operating LP | 5.700% | 1/15/33 | 11,942 | 11,656 | ||
Tanger Properties LP | 2.750% | 9/1/31 | 10,121 | 7,521 | ||
1 | UDR Inc. | 4.400% | 1/26/29 | 14,612 | 13,675 | |
1 | UDR Inc. | 3.200% | 1/15/30 | 14,726 | 12,962 | |
UDR Inc. | 3.000% | 8/15/31 | 12,612 | 10,581 | ||
1 | UDR Inc. | 2.100% | 8/1/32 | 9,337 | 7,004 | |
1 | UDR Inc. | 1.900% | 3/15/33 | 5,170 | 3,773 | |
1 | UDR Inc. | 2.100% | 6/15/33 | 3,441 | 2,527 | |
Ventas Realty LP | 4.400% | 1/15/29 | 26,988 | 25,344 | ||
Ventas Realty LP | 3.000% | 1/15/30 | 19,985 | 17,027 | ||
Ventas Realty LP | 4.750% | 11/15/30 | 8,549 | 8,019 | ||
Ventas Realty LP | 2.500% | 9/1/31 | 8,201 | 6,463 | ||
VICI Properties LP | 4.950% | 2/15/30 | 24,343 | 22,891 | ||
VICI Properties LP | 5.125% | 5/15/32 | 31,517 | 29,219 | ||
Vornado Realty LP | 3.400% | 6/1/31 | 8,536 | 6,278 | ||
Welltower OP LLC | 4.125% | 3/15/29 | 19,241 | 17,877 | ||
Welltower OP LLC | 3.100% | 1/15/30 | 18,105 | 15,732 | ||
Welltower OP LLC | 2.750% | 1/15/31 | 12,118 | 9,999 | ||
Welltower OP LLC | 2.800% | 6/1/31 | 18,567 | 15,299 | ||
Welltower OP LLC | 2.750% | 1/15/32 | 14,361 | 11,604 | ||
Welltower OP LLC | 3.850% | 6/15/32 | 11,751 | 10,324 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Weyerhaeuser Co. | 4.000% | 11/15/29 | 24,167 | 22,277 | ||
Weyerhaeuser Co. | 4.000% | 4/15/30 | 27,436 | 25,073 | ||
Weyerhaeuser Co. | 7.375% | 3/15/32 | 11,335 | 12,755 | ||
Weyerhaeuser Co. | 3.375% | 3/9/33 | 9,701 | 8,255 | ||
WP Carey Inc. | 3.850% | 7/15/29 | 8,577 | 7,726 | ||
WP Carey Inc. | 2.400% | 2/1/31 | 12,391 | 9,902 | ||
WP Carey Inc. | 2.450% | 2/1/32 | 8,605 | 6,703 | ||
WP Carey Inc. | 2.250% | 4/1/33 | 4,010 | 2,985 | ||
2,532,375 | ||||||
Technology (8.1%) | ||||||
Adobe Inc. | 2.300% | 2/1/30 | 31,203 | 27,065 | ||
Advanced Micro Devices Inc. | 3.924% | 6/1/32 | 23,958 | 22,322 | ||
Amdocs Ltd. | 2.538% | 6/15/30 | 15,830 | 13,001 | ||
Analog Devices Inc. | 1.700% | 10/1/28 | 24,035 | 20,638 | ||
Analog Devices Inc. | 2.100% | 10/1/31 | 19,371 | 15,821 | ||
Analog Devices Inc. | 4.250% | 10/1/32 | 2,000 | 1,892 | ||
Apple Inc. | 1.400% | 8/5/28 | 9,388 | 8,075 | ||
Apple Inc. | 3.250% | 8/8/29 | 35,868 | 33,358 | ||
Apple Inc. | 2.200% | 9/11/29 | 33,724 | 29,478 | ||
Apple Inc. | 4.150% | 5/10/30 | 14,576 | 14,252 | ||
Apple Inc. | 1.650% | 5/11/30 | 33,470 | 27,900 | ||
Apple Inc. | 1.250% | 8/20/30 | 34,566 | 27,788 | ||
Apple Inc. | 1.650% | 2/8/31 | 71,653 | 58,679 | ||
Apple Inc. | 1.700% | 8/5/31 | 29,630 | 24,102 | ||
Apple Inc. | 3.350% | 8/8/32 | 32,609 | 29,912 | ||
Apple Inc. | 4.300% | 5/10/33 | 24,863 | 24,392 | ||
Applied Materials Inc. | 1.750% | 6/1/30 | 9,149 | 7,529 | ||
Autodesk Inc. | 2.850% | 1/15/30 | 6,882 | 5,997 | ||
Autodesk Inc. | 2.400% | 12/15/31 | 24,155 | 19,595 | ||
Automatic Data Processing Inc. | 1.250% | 9/1/30 | 25,605 | 20,400 | ||
Avnet Inc. | 3.000% | 5/15/31 | 8,871 | 7,078 | ||
Avnet Inc. | 5.500% | 6/1/32 | 7,848 | 7,433 | ||
Booz Allen Hamilton Inc. | 5.950% | 8/4/33 | 16,000 | 16,178 | ||
Broadcom Inc. | 4.110% | 9/15/28 | 27,342 | 25,719 | ||
2 | Broadcom Inc. | 4.000% | 4/15/29 | 18,761 | 17,309 | |
Broadcom Inc. | 4.750% | 4/15/29 | 40,223 | 38,726 | ||
Broadcom Inc. | 5.000% | 4/15/30 | 19,407 | 19,085 | ||
Broadcom Inc. | 4.150% | 11/15/30 | 51,932 | 47,440 | ||
2 | Broadcom Inc. | 2.450% | 2/15/31 | 70,720 | 56,996 | |
2 | Broadcom Inc. | 4.150% | 4/15/32 | 21,515 | 19,270 | |
Broadcom Inc. | 4.300% | 11/15/32 | 45,181 | 40,827 | ||
2 | Broadcom Inc. | 2.600% | 2/15/33 | 41,808 | 32,282 | |
2 | Broadcom Inc. | 3.419% | 4/15/33 | 55,024 | 45,513 | |
Broadridge Financial Solutions Inc. | 2.900% | 12/1/29 | 11,749 | 10,128 | ||
Broadridge Financial Solutions Inc. | 2.600% | 5/1/31 | 32,752 | 26,725 | ||
CDW LLC | 3.250% | 2/15/29 | 24,816 | 21,633 | ||
CDW LLC | 3.569% | 12/1/31 | 25,347 | 21,445 | ||
2 | CGI Inc. | 2.300% | 9/14/31 | 1 | — | |
CGI Inc. | 2.300% | 9/14/31 | 4,123 | 3,202 | ||
Cintas Corp. No. 2 | 4.000% | 5/1/32 | 17,240 | 16,099 | ||
Concentrix Corp. | 6.850% | 8/2/33 | 11,200 | 10,723 | ||
Dell International LLC | 5.300% | 10/1/29 | 45,700 | 45,118 | ||
Dell International LLC | 6.200% | 7/15/30 | 18,245 | 18,768 | ||
Dell International LLC | 5.750% | 2/1/33 | 23,340 | 23,313 | ||
DXC Technology Co. | 2.375% | 9/15/28 | 15,081 | 12,442 | ||
Equifax Inc. | 3.100% | 5/15/30 | 14,703 | 12,562 | ||
Equifax Inc. | 2.350% | 9/15/31 | 26,791 | 21,016 | ||
Fidelity National Information Services Inc. | 3.750% | 5/21/29 | 13,312 | 12,326 | ||
Fidelity National Information Services Inc. | 2.250% | 3/1/31 | 41,140 | 33,157 | ||
Fidelity National Information Services Inc. | 5.100% | 7/15/32 | 15,930 | 15,609 | ||
Fiserv Inc. | 4.200% | 10/1/28 | 28,722 | 27,407 | ||
Fiserv Inc. | 3.500% | 7/1/29 | 72,451 | 66,152 | ||
Fiserv Inc. | 2.650% | 6/1/30 | 23,290 | 19,599 | ||
Fiserv Inc. | 5.600% | 3/2/33 | 20,039 | 20,127 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Fiserv Inc. | 5.625% | 8/21/33 | 31,000 | 31,225 | ||
Flex Ltd. | 4.875% | 6/15/29 | 17,399 | 16,618 | ||
Flex Ltd. | 4.875% | 5/12/30 | 18,144 | 17,368 | ||
Fortinet Inc. | 2.200% | 3/15/31 | 12,313 | 9,680 | ||
HP Inc. | 4.000% | 4/15/29 | 27,801 | 25,947 | ||
HP Inc. | 3.400% | 6/17/30 | 14,613 | 12,767 | ||
HP Inc. | 2.650% | 6/17/31 | 21,850 | 17,632 | ||
HP Inc. | 4.200% | 4/15/32 | 16,130 | 14,404 | ||
HP Inc. | 5.500% | 1/15/33 | 26,229 | 25,460 | ||
Hubbell Inc. | 2.300% | 3/15/31 | 3,465 | 2,832 | ||
Intel Corp. | 4.000% | 8/5/29 | 28,116 | 26,741 | ||
Intel Corp. | 2.450% | 11/15/29 | 43,994 | 38,180 | ||
Intel Corp. | 5.125% | 2/10/30 | 41,319 | 41,343 | ||
Intel Corp. | 3.900% | 3/25/30 | 24,531 | 22,944 | ||
Intel Corp. | 2.000% | 8/12/31 | 49,035 | 39,587 | ||
Intel Corp. | 4.150% | 8/5/32 | 45,021 | 42,347 | ||
Intel Corp. | 5.200% | 2/10/33 | 59,429 | 59,326 | ||
International Business Machines Corp. | 3.500% | 5/15/29 | 73,882 | 68,113 | ||
International Business Machines Corp. | 1.950% | 5/15/30 | 33,622 | 27,705 | ||
International Business Machines Corp. | 2.720% | 2/9/32 | 3,287 | 2,783 | ||
International Business Machines Corp. | 4.400% | 7/27/32 | 15,080 | 14,359 | ||
International Business Machines Corp. | 4.750% | 2/6/33 | 28,249 | 27,555 | ||
Intuit Inc. | 1.650% | 7/15/30 | 12,232 | 9,838 | ||
Jabil Inc. | 5.450% | 2/1/29 | 7,305 | 7,219 | ||
Jabil Inc. | 3.600% | 1/15/30 | 12,800 | 11,439 | ||
Jabil Inc. | 3.000% | 1/15/31 | 14,630 | 12,212 | ||
Juniper Networks Inc. | 3.750% | 8/15/29 | 8,432 | 7,664 | ||
Juniper Networks Inc. | 2.000% | 12/10/30 | 12,711 | 9,819 | ||
KLA Corp. | 4.100% | 3/15/29 | 15,496 | 14,894 | ||
KLA Corp. | 4.650% | 7/15/32 | 23,714 | 23,252 | ||
Kyndryl Holdings Inc. | 2.700% | 10/15/28 | 9,809 | 8,196 | ||
Kyndryl Holdings Inc. | 3.150% | 10/15/31 | 15,634 | 12,146 | ||
Lam Research Corp. | 4.000% | 3/15/29 | 25,776 | 24,708 | ||
Lam Research Corp. | 1.900% | 6/15/30 | 18,054 | 14,908 | ||
Leidos Inc. | 4.375% | 5/15/30 | 18,647 | 17,201 | ||
Leidos Inc. | 2.300% | 2/15/31 | 24,322 | 19,268 | ||
Leidos Inc. | 5.750% | 3/15/33 | 18,730 | 18,610 | ||
Marvell Technology Inc. | 2.950% | 4/15/31 | 22,772 | 19,001 | ||
Micron Technology Inc. | 5.327% | 2/6/29 | 11,574 | 11,340 | ||
Micron Technology Inc. | 6.750% | 11/1/29 | 30,489 | 31,705 | ||
Micron Technology Inc. | 4.663% | 2/15/30 | 20,013 | 18,742 | ||
Micron Technology Inc. | 2.703% | 4/15/32 | 15,901 | 12,516 | ||
Micron Technology Inc. | 5.875% | 2/9/33 | 27,423 | 27,148 | ||
Moody's Corp. | 4.250% | 2/1/29 | 4,972 | 4,788 | ||
Moody's Corp. | 2.000% | 8/19/31 | 12,249 | 9,852 | ||
Moody's Corp. | 4.250% | 8/8/32 | 16,709 | 15,687 | ||
Motorola Solutions Inc. | 4.600% | 5/23/29 | 18,434 | 17,757 | ||
Motorola Solutions Inc. | 2.300% | 11/15/30 | 10,408 | 8,280 | ||
Motorola Solutions Inc. | 2.750% | 5/24/31 | 17,311 | 14,026 | ||
Motorola Solutions Inc. | 5.600% | 6/1/32 | 18,431 | 18,153 | ||
NetApp Inc. | 2.700% | 6/22/30 | 17,141 | 14,289 | ||
NVIDIA Corp. | 2.850% | 4/1/30 | 36,512 | 32,745 | ||
NVIDIA Corp. | 2.000% | 6/15/31 | 27,866 | 23,052 | ||
NXP BV | 5.550% | 12/1/28 | 14,205 | 14,239 | ||
NXP BV | 4.300% | 6/18/29 | 35,485 | 33,243 | ||
NXP BV | 3.400% | 5/1/30 | 18,989 | 16,687 | ||
NXP BV | 2.500% | 5/11/31 | 38,815 | 31,372 | ||
NXP BV | 2.650% | 2/15/32 | 7,096 | 5,680 | ||
NXP BV | 5.000% | 1/15/33 | 24,595 | 23,331 | ||
Oracle Corp. | 6.150% | 11/9/29 | 32,287 | 33,580 | ||
Oracle Corp. | 2.950% | 4/1/30 | 71,074 | 61,527 | ||
Oracle Corp. | 4.650% | 5/6/30 | 20,445 | 19,616 | ||
Oracle Corp. | 3.250% | 5/15/30 | 12,163 | 10,713 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Oracle Corp. | 2.875% | 3/25/31 | 81,564 | 68,904 | ||
Oracle Corp. | 6.250% | 11/9/32 | 50,294 | 52,628 | ||
Oracle Corp. | 4.900% | 2/6/33 | 37,410 | 35,724 | ||
Qorvo Inc. | 4.375% | 10/15/29 | 20,895 | 18,918 | ||
QUALCOMM Inc. | 2.150% | 5/20/30 | 27,972 | 23,768 | ||
QUALCOMM Inc. | 1.650% | 5/20/32 | 19,290 | 14,951 | ||
QUALCOMM Inc. | 4.250% | 5/20/32 | 14,338 | 13,755 | ||
QUALCOMM Inc. | 5.400% | 5/20/33 | 16,850 | 17,436 | ||
Quanta Services Inc. | 2.900% | 10/1/30 | 24,353 | 20,506 | ||
Quanta Services Inc. | 2.350% | 1/15/32 | 5,107 | 4,036 | ||
RELX Capital Inc. | 4.000% | 3/18/29 | 26,409 | 25,083 | ||
RELX Capital Inc. | 3.000% | 5/22/30 | 19,093 | 16,767 | ||
RELX Capital Inc. | 4.750% | 5/20/32 | 12,870 | 12,400 | ||
Roper Technologies Inc. | 4.200% | 9/15/28 | 6,360 | 6,059 | ||
Roper Technologies Inc. | 2.950% | 9/15/29 | 11,861 | 10,479 | ||
Roper Technologies Inc. | 2.000% | 6/30/30 | 11,247 | 9,159 | ||
Roper Technologies Inc. | 1.750% | 2/15/31 | 29,565 | 23,187 | ||
S&P Global Inc. | 2.700% | 3/1/29 | 30,890 | 27,605 | ||
S&P Global Inc. | 4.250% | 5/1/29 | 33,211 | 31,983 | ||
S&P Global Inc. | 2.500% | 12/1/29 | 7,702 | 6,690 | ||
S&P Global Inc. | 1.250% | 8/15/30 | 7,238 | 5,693 | ||
S&P Global Inc. | 2.900% | 3/1/32 | 35,942 | 30,778 | ||
Salesforce Inc. | 1.950% | 7/15/31 | 39,139 | 31,834 | ||
ServiceNow Inc. | 1.400% | 9/1/30 | 33,621 | 26,443 | ||
Skyworks Solutions Inc. | 3.000% | 6/1/31 | 8,256 | 6,729 | ||
TD SYNNEX Corp. | 2.650% | 8/9/31 | 13,632 | 10,498 | ||
Teledyne FLIR LLC | 2.500% | 8/1/30 | 13,656 | 11,270 | ||
Texas Instruments Inc. | 2.250% | 9/4/29 | 13,721 | 11,946 | ||
Texas Instruments Inc. | 1.750% | 5/4/30 | 22,570 | 18,777 | ||
Texas Instruments Inc. | 1.900% | 9/15/31 | 12,851 | 10,467 | ||
Texas Instruments Inc. | 3.650% | 8/16/32 | 5,625 | 5,135 | ||
Texas Instruments Inc. | 4.900% | 3/14/33 | 21,050 | 21,124 | ||
TSMC Arizona Corp. | 4.125% | 4/22/29 | 12,301 | 11,738 | ||
TSMC Arizona Corp. | 2.500% | 10/25/31 | 39,458 | 32,778 | ||
TSMC Arizona Corp. | 4.250% | 4/22/32 | 11,040 | 10,470 | ||
Verisk Analytics Inc. | 4.125% | 3/15/29 | 14,850 | 14,124 | ||
Verisk Analytics Inc. | 5.750% | 4/1/33 | 12,275 | 12,517 | ||
VMware Inc. | 4.700% | 5/15/30 | 32,910 | 30,994 | ||
VMware Inc. | 2.200% | 8/15/31 | 16,694 | 12,991 | ||
Western Digital Corp. | 2.850% | 2/1/29 | 13,951 | 11,238 | ||
Western Digital Corp. | 3.100% | 2/1/32 | 12,185 | 9,076 | ||
Workday Inc. | 3.700% | 4/1/29 | 23,144 | 21,379 | ||
Workday Inc. | 3.800% | 4/1/32 | 25,278 | 22,420 | ||
Xilinx Inc. | 2.375% | 6/1/30 | 9,083 | 7,766 | ||
3,397,185 | ||||||
Utilities (8.0%) | ||||||
1 | AEP Texas Inc. | 2.100% | 7/1/30 | 14,502 | 11,754 | |
AEP Texas Inc. | 4.700% | 5/15/32 | 5,221 | 4,940 | ||
AEP Texas Inc. | 5.400% | 6/1/33 | 11,000 | 10,880 | ||
AES Corp. | 2.450% | 1/15/31 | 24,970 | 19,832 | ||
1 | Alabama Power Co. | 1.450% | 9/15/30 | 16,146 | 12,672 | |
Alabama Power Co. | 3.050% | 3/15/32 | 11,149 | 9,567 | ||
Alabama Power Co. | 3.940% | 9/1/32 | 19,812 | 18,031 | ||
Ameren Corp. | 3.500% | 1/15/31 | 19,656 | 17,342 | ||
Ameren Illinois Co. | 1.550% | 11/15/30 | 12,029 | 9,387 | ||
Ameren Illinois Co. | 3.850% | 9/1/32 | 13,996 | 12,660 | ||
Ameren Illinois Co. | 4.950% | 6/1/33 | 19,415 | 19,008 | ||
1 | American Electric Power Co. Inc. | 4.300% | 12/1/28 | 9,042 | 8,615 | |
American Electric Power Co. Inc. | 2.300% | 3/1/30 | 9,431 | 7,762 | ||
American Electric Power Co. Inc. | 5.950% | 11/1/32 | 3,521 | 3,620 | ||
American Electric Power Co. Inc. | 5.625% | 3/1/33 | 24,049 | 24,096 | ||
American Water Capital Corp. | 3.750% | 9/1/28 | 6,230 | 5,907 | ||
American Water Capital Corp. | 3.450% | 6/1/29 | 8,944 | 8,201 | ||
American Water Capital Corp. | 2.800% | 5/1/30 | 10,910 | 9,458 | ||
American Water Capital Corp. | 2.300% | 6/1/31 | 15,610 | 12,808 | ||
American Water Capital Corp. | 4.450% | 6/1/32 | 24,833 | 23,595 | ||
1 | Appalachian Power Co. | 2.700% | 4/1/31 | 16,317 | 13,541 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Appalachian Power Co. | 4.500% | 8/1/32 | 18,843 | 17,507 | |
Arizona Public Service Co. | 2.600% | 8/15/29 | 7,698 | 6,677 | ||
Arizona Public Service Co. | 6.350% | 12/15/32 | 12,712 | 13,387 | ||
Arizona Public Service Co. | 5.550% | 8/1/33 | 12,300 | 12,322 | ||
Atlantic City Electric Co. | 4.000% | 10/15/28 | 5,649 | 5,358 | ||
Atlantic City Electric Co. | 2.300% | 3/15/31 | 12,400 | 10,140 | ||
Atmos Energy Corp. | 2.625% | 9/15/29 | 12,403 | 10,906 | ||
Atmos Energy Corp. | 1.500% | 1/15/31 | 14,667 | 11,441 | ||
Atmos Energy Corp. | 5.450% | 10/15/32 | 5,788 | 5,921 | ||
Avangrid Inc. | 3.800% | 6/1/29 | 19,081 | 17,306 | ||
Baltimore Gas & Electric Co. | 2.250% | 6/15/31 | 13,856 | 11,358 | ||
Berkshire Hathaway Energy Co. | 3.700% | 7/15/30 | 25,470 | 23,201 | ||
Berkshire Hathaway Energy Co. | 1.650% | 5/15/31 | 13,042 | 10,084 | ||
Black Hills Corp. | 3.050% | 10/15/29 | 9,583 | 8,241 | ||
Black Hills Corp. | 2.500% | 6/15/30 | 6,001 | 4,920 | ||
1 | CenterPoint Energy Houston Electric LLC | 2.350% | 4/1/31 | 12,507 | 10,357 | |
1 | CenterPoint Energy Houston Electric LLC | 3.000% | 3/1/32 | 8,062 | 6,881 | |
1 | CenterPoint Energy Houston Electric LLC | 4.450% | 10/1/32 | 17,411 | 16,495 | |
CenterPoint Energy Houston Electric LLC | 4.950% | 4/1/33 | 29,896 | 29,357 | ||
CenterPoint Energy Inc. | 2.950% | 3/1/30 | 14,862 | 12,788 | ||
CenterPoint Energy Inc. | 2.650% | 6/1/31 | 11,815 | 9,698 | ||
CenterPoint Energy Resources Corp. | 1.750% | 10/1/30 | 11,717 | 9,311 | ||
CenterPoint Energy Resources Corp. | 5.400% | 3/1/33 | 28,134 | 28,140 | ||
Cleco Corporate Holdings LLC | 3.375% | 9/15/29 | 1,330 | 1,127 | ||
1 | CMS Energy Corp. | 4.750% | 6/1/50 | 14,709 | 12,830 | |
CMS Energy Corp. | 3.750% | 12/1/50 | 2,953 | 2,231 | ||
Commonwealth Edison Co. | 2.200% | 3/1/30 | 4,749 | 3,973 | ||
1 | Commonwealth Edison Co. | 3.150% | 3/15/32 | 5,231 | 4,523 | |
Commonwealth Edison Co. | 4.900% | 2/1/33 | 5,316 | 5,225 | ||
1 | Connecticut Light & Power Co. | 2.050% | 7/1/31 | 6,203 | 4,997 | |
Connecticut Light & Power Co. | 4.900% | 7/1/33 | 6,620 | 6,519 | ||
1 | Consolidated Edison Co. of New York Inc. | 4.000% | 12/1/28 | 10,296 | 9,836 | |
1 | Consolidated Edison Co. of New York Inc. | 3.350% | 4/1/30 | 16,281 | 14,691 | |
Consolidated Edison Co. of New York Inc. | 2.400% | 6/15/31 | 8,138 | 6,749 | ||
Consolidated Edison Co. of New York Inc. | 5.200% | 3/1/33 | 8,152 | 8,141 | ||
Constellation Energy Generation LLC | 5.800% | 3/1/33 | 8,952 | 9,118 | ||
Consumers Energy Co. | 3.800% | 11/15/28 | 2,221 | 2,092 | ||
Consumers Energy Co. | 3.600% | 8/15/32 | 10,027 | 8,992 | ||
Consumers Energy Co. | 4.625% | 5/15/33 | 19,624 | 19,024 | ||
1 | Dominion Energy Inc. | 3.375% | 4/1/30 | 42,927 | 37,874 | |
1 | Dominion Energy Inc. | 2.250% | 8/15/31 | 12,925 | 10,293 | |
1 | Dominion Energy Inc. | 4.350% | 8/15/32 | 14,629 | 13,519 | |
Dominion Energy Inc. | 5.375% | 11/15/32 | 34,731 | 34,194 | ||
1 | Dominion Energy South Carolina Inc. | 2.300% | 12/1/31 | 16,642 | 13,362 | |
Dominion Energy South Carolina Inc. | 6.625% | 2/1/32 | 4,560 | 4,963 | ||
Dominion Energy South Carolina Inc. | 5.300% | 5/15/33 | 4,050 | 4,065 | ||
DTE Electric Co. | 2.250% | 3/1/30 | 14,198 | 12,049 | ||
1 | DTE Electric Co. | 2.625% | 3/1/31 | 15,312 | 13,030 | |
1 | DTE Electric Co. | 3.000% | 3/1/32 | 7,255 | 6,192 | |
DTE Electric Co. | 5.200% | 4/1/33 | 14,643 | 14,678 | ||
1 | DTE Energy Co. | 3.400% | 6/15/29 | 15,147 | 13,575 | |
DTE Energy Co. | 2.950% | 3/1/30 | 15,481 | 13,308 | ||
Duke Energy Carolinas LLC | 3.950% | 11/15/28 | 23,691 | 22,561 | ||
1 | Duke Energy Carolinas LLC | 6.000% | 12/1/28 | 5,340 | 5,548 | |
Duke Energy Carolinas LLC | 2.450% | 8/15/29 | 7,488 | 6,461 | ||
Duke Energy Carolinas LLC | 2.450% | 2/1/30 | 5,137 | 4,408 | ||
Duke Energy Carolinas LLC | 2.550% | 4/15/31 | 22,289 | 18,877 | ||
Duke Energy Carolinas LLC | 2.850% | 3/15/32 | 4,956 | 4,181 | ||
Duke Energy Carolinas LLC | 4.950% | 1/15/33 | 35,419 | 34,866 | ||
Duke Energy Corp. | 3.400% | 6/15/29 | 8,700 | 7,874 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Duke Energy Corp. | 2.450% | 6/1/30 | 15,545 | 12,936 | ||
Duke Energy Corp. | 2.550% | 6/15/31 | 29,066 | 23,719 | ||
Duke Energy Corp. | 4.500% | 8/15/32 | 29,990 | 27,873 | ||
Duke Energy Florida LLC | 2.500% | 12/1/29 | 16,115 | 13,905 | ||
Duke Energy Florida LLC | 1.750% | 6/15/30 | 24,344 | 19,616 | ||
Duke Energy Florida LLC | 2.400% | 12/15/31 | 19,144 | 15,606 | ||
Duke Energy Ohio Inc. | 3.650% | 2/1/29 | 17,472 | 16,293 | ||
Duke Energy Ohio Inc. | 2.125% | 6/1/30 | 10,354 | 8,521 | ||
Duke Energy Ohio Inc. | 5.250% | 4/1/33 | 11,493 | 11,499 | ||
Duke Energy Progress LLC | 3.700% | 9/1/28 | 10,376 | 9,776 | ||
Duke Energy Progress LLC | 3.450% | 3/15/29 | 14,744 | 13,556 | ||
Duke Energy Progress LLC | 2.000% | 8/15/31 | 22,114 | 17,574 | ||
Duke Energy Progress LLC | 5.250% | 3/15/33 | 9,060 | 9,065 | ||
2 | East Ohio Gas Co. | 2.000% | 6/15/30 | 1,875 | 1,496 | |
Edison International | 6.950% | 11/15/29 | 11,986 | 12,629 | ||
Emera US Finance LP | 2.639% | 6/15/31 | 13,576 | 10,813 | ||
Entergy Arkansas LLC | 5.150% | 1/15/33 | 12,320 | 12,208 | ||
Entergy Arkansas LLC | 5.300% | 9/15/33 | 9,000 | 8,983 | ||
Entergy Corp. | 1.900% | 6/15/28 | 7,000 | 5,996 | ||
Entergy Corp. | 2.800% | 6/15/30 | 12,259 | 10,346 | ||
Entergy Corp. | 2.400% | 6/15/31 | 17,773 | 14,188 | ||
Entergy Louisiana LLC | 1.600% | 12/15/30 | 11,237 | 8,695 | ||
Entergy Louisiana LLC | 3.050% | 6/1/31 | 10,165 | 8,720 | ||
Entergy Louisiana LLC | 2.350% | 6/15/32 | 6,550 | 5,205 | ||
Entergy Texas Inc. | 4.000% | 3/30/29 | 14,061 | 13,156 | ||
Entergy Texas Inc. | 1.750% | 3/15/31 | 12,573 | 9,846 | ||
Essential Utilities Inc. | 3.566% | 5/1/29 | 11,029 | 10,102 | ||
Essential Utilities Inc. | 2.704% | 4/15/30 | 16,644 | 13,994 | ||
Essential Utilities Inc. | 2.400% | 5/1/31 | 2,415 | 1,930 | ||
Evergy Inc. | 2.900% | 9/15/29 | 14,580 | 12,675 | ||
1 | Evergy Metro Inc. | 2.250% | 6/1/30 | 8,808 | 7,289 | |
Evergy Metro Inc. | 4.950% | 4/15/33 | 7,530 | 7,315 | ||
1 | Eversource Energy | 4.250% | 4/1/29 | 16,867 | 16,018 | |
1 | Eversource Energy | 1.650% | 8/15/30 | 14,588 | 11,466 | |
Eversource Energy | 2.550% | 3/15/31 | 14,311 | 11,748 | ||
Eversource Energy | 3.375% | 3/1/32 | 20,929 | 17,948 | ||
Eversource Energy | 5.125% | 5/15/33 | 15,398 | 14,892 | ||
Exelon Corp. | 4.050% | 4/15/30 | 31,860 | 29,447 | ||
Exelon Corp. | 3.350% | 3/15/32 | 31,746 | 27,251 | ||
Exelon Corp. | 5.300% | 3/15/33 | 22,464 | 22,165 | ||
Florida Power & Light Co. | 4.625% | 5/15/30 | 13,417 | 13,144 | ||
Florida Power & Light Co. | 2.450% | 2/3/32 | 24,050 | 19,943 | ||
Florida Power & Light Co. | 5.100% | 4/1/33 | 24,723 | 24,754 | ||
Florida Power & Light Co. | 4.800% | 5/15/33 | 18,874 | 18,433 | ||
1 | Georgia Power Co. | 2.650% | 9/15/29 | 4,179 | 3,605 | |
Georgia Power Co. | 4.700% | 5/15/32 | 14,135 | 13,473 | ||
Georgia Power Co. | 4.950% | 5/17/33 | 25,487 | 24,662 | ||
Interstate Power & Light Co. | 4.100% | 9/26/28 | 16,459 | 15,679 | ||
Interstate Power & Light Co. | 3.600% | 4/1/29 | 5,642 | 5,187 | ||
Interstate Power & Light Co. | 2.300% | 6/1/30 | 9,970 | 8,185 | ||
IPALCO Enterprises Inc. | 4.250% | 5/1/30 | 12,549 | 11,302 | ||
1 | Kentucky Utilities Co. | 5.450% | 4/15/33 | 8,530 | 8,609 | |
1 | Louisville Gas & Electric Co. | 5.450% | 4/15/33 | 6,080 | 6,142 | |
MidAmerican Energy Co. | 3.650% | 4/15/29 | 29,309 | 27,304 | ||
MidAmerican Energy Co. | 6.750% | 12/30/31 | 7,505 | 8,231 | ||
National Fuel Gas Co. | 4.750% | 9/1/28 | 5,613 | 5,316 | ||
National Fuel Gas Co. | 2.950% | 3/1/31 | 13,438 | 10,822 | ||
National Grid plc | 5.809% | 6/12/33 | 22,148 | 22,212 | ||
1 | National Rural Utilities Cooperative Finance Corp. | 5.050% | 9/15/28 | 8,500 | 8,484 | |
National Rural Utilities Cooperative Finance Corp. | 3.900% | 11/1/28 | 3,739 | 3,528 | ||
National Rural Utilities Cooperative Finance Corp. | 3.700% | 3/15/29 | 18,076 | 16,785 | ||
National Rural Utilities Cooperative Finance Corp. | 2.400% | 3/15/30 | 14,474 | 12,207 | ||
National Rural Utilities Cooperative Finance Corp. | 1.350% | 3/15/31 | 14,098 | 10,654 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | National Rural Utilities Cooperative Finance Corp. | 1.650% | 6/15/31 | 9,174 | 7,030 | |
1 | National Rural Utilities Cooperative Finance Corp. | 8.000% | 3/1/32 | 11,500 | 13,407 | |
National Rural Utilities Cooperative Finance Corp. | 2.750% | 4/15/32 | 10,192 | 8,350 | ||
National Rural Utilities Cooperative Finance Corp. | 4.023% | 11/1/32 | 3,825 | 3,468 | ||
National Rural Utilities Cooperative Finance Corp. | 5.800% | 1/15/33 | 28,498 | 29,414 | ||
1 | Nevada Power Co. | 3.700% | 5/1/29 | 18,802 | 17,448 | |
1 | Nevada Power Co. | 2.400% | 5/1/30 | 4,134 | 3,466 | |
NextEra Energy Capital Holdings Inc. | 3.500% | 4/1/29 | 23,385 | 21,366 | ||
NextEra Energy Capital Holdings Inc. | 2.750% | 11/1/29 | 17,252 | 14,922 | ||
NextEra Energy Capital Holdings Inc. | 2.250% | 6/1/30 | 45,240 | 37,210 | ||
NextEra Energy Capital Holdings Inc. | 2.440% | 1/15/32 | 21,590 | 17,296 | ||
NextEra Energy Capital Holdings Inc. | 5.000% | 7/15/32 | 27,807 | 26,879 | ||
NextEra Energy Capital Holdings Inc. | 5.050% | 2/28/33 | 28,414 | 27,488 | ||
1 | NextEra Energy Capital Holdings Inc. | 4.800% | 12/1/77 | 10,326 | 9,147 | |
1 | NextEra Energy Capital Holdings Inc. | 5.650% | 5/1/79 | 4,089 | 3,805 | |
NiSource Inc. | 2.950% | 9/1/29 | 11,805 | 10,388 | ||
NiSource Inc. | 3.600% | 5/1/30 | 33,612 | 30,104 | ||
NiSource Inc. | 1.700% | 2/15/31 | 18,593 | 14,366 | ||
NiSource Inc. | 5.400% | 6/30/33 | 6,734 | 6,671 | ||
Northern States Power Co. | 2.250% | 4/1/31 | 2,277 | 1,882 | ||
NSTAR Electric Co. | 3.250% | 5/15/29 | 9,552 | 8,751 | ||
NSTAR Electric Co. | 3.950% | 4/1/30 | 13,778 | 12,829 | ||
1 | Ohio Power Co. | 2.600% | 4/1/30 | 6,727 | 5,698 | |
1 | Ohio Power Co. | 1.625% | 1/15/31 | 15,956 | 12,476 | |
Ohio Power Co. | 5.000% | 6/1/33 | 9,740 | 9,482 | ||
Oklahoma Gas & Electric Co. | 3.300% | 3/15/30 | 7,742 | 6,881 | ||
Oklahoma Gas & Electric Co. | 3.250% | 4/1/30 | 7,291 | 6,432 | ||
Oklahoma Gas & Electric Co. | 5.400% | 1/15/33 | 6,512 | 6,509 | ||
Oncor Electric Delivery Co. LLC | 3.700% | 11/15/28 | 11,258 | 10,613 | ||
Oncor Electric Delivery Co. LLC | 5.750% | 3/15/29 | 9,590 | 9,881 | ||
Oncor Electric Delivery Co. LLC | 2.750% | 5/15/30 | 22,929 | 19,800 | ||
Oncor Electric Delivery Co. LLC | 7.000% | 5/1/32 | 6,454 | 7,214 | ||
Oncor Electric Delivery Co. LLC | 4.150% | 6/1/32 | 20,494 | 19,107 | ||
Oncor Electric Delivery Co. LLC | 4.550% | 9/15/32 | 24,520 | 23,341 | ||
ONE Gas Inc. | 2.000% | 5/15/30 | 7,506 | 6,148 | ||
ONE Gas Inc. | 4.250% | 9/1/32 | 3,248 | 3,025 | ||
Pacific Gas & Electric Co. | 6.100% | 1/15/29 | 10,684 | 10,557 | ||
Pacific Gas & Electric Co. | 4.200% | 3/1/29 | 3,231 | 2,904 | ||
Pacific Gas & Electric Co. | 4.550% | 7/1/30 | 72,667 | 65,300 | ||
Pacific Gas & Electric Co. | 2.500% | 2/1/31 | 52,935 | 41,283 | ||
Pacific Gas & Electric Co. | 3.250% | 6/1/31 | 20,859 | 16,914 | ||
Pacific Gas & Electric Co. | 4.400% | 3/1/32 | 12,833 | 11,060 | ||
Pacific Gas & Electric Co. | 5.900% | 6/15/32 | 26,187 | 25,072 | ||
Pacific Gas & Electric Co. | 6.150% | 1/15/33 | 25,655 | 24,982 | ||
Pacific Gas & Electric Co. | 6.400% | 6/15/33 | 19,619 | 19,364 | ||
PacifiCorp | 3.500% | 6/15/29 | 17,719 | 16,039 | ||
PacifiCorp | 2.700% | 9/15/30 | 10,586 | 8,824 | ||
PECO Energy Co. | 4.900% | 6/15/33 | 20,275 | 19,935 | ||
Piedmont Natural Gas Co. Inc. | 3.500% | 6/1/29 | 12,115 | 10,986 | ||
Piedmont Natural Gas Co. Inc. | 2.500% | 3/15/31 | 9,832 | 7,965 | ||
Piedmont Natural Gas Co. Inc. | 5.400% | 6/15/33 | 9,138 | 9,003 | ||
PPL Electric Utilities Corp. | 5.000% | 5/15/33 | 20,625 | 20,406 | ||
Progress Energy Inc. | 7.750% | 3/1/31 | 20,310 | 22,756 | ||
Progress Energy Inc. | 7.000% | 10/30/31 | 15,552 | 16,848 | ||
1 | Public Service Co. of Colorado | 1.900% | 1/15/31 | 7,801 | 6,193 | |
Public Service Co. of Colorado | 1.875% | 6/15/31 | 20,304 | 16,011 | ||
1 | Public Service Co. of Colorado | 4.100% | 6/1/32 | 14,784 | 13,567 | |
Public Service Co. of Oklahoma | 5.250% | 1/15/33 | 8,545 | 8,383 | ||
1 | Public Service Electric & Gas Co. | 3.650% | 9/1/28 | 7,723 | 7,261 | |
1 | Public Service Electric & Gas Co. | 3.200% | 5/15/29 | 11,837 | 10,755 | |
1 | Public Service Electric & Gas Co. | 2.450% | 1/15/30 | 6,228 | 5,341 | |
1 | Public Service Electric & Gas Co. | 1.900% | 8/15/31 | 11,340 | 9,064 | |
1 | Public Service Electric & Gas Co. | 3.100% | 3/15/32 | 21,780 | 18,891 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Public Service Electric & Gas Co. | 4.900% | 12/15/32 | 10,229 | 10,099 | |
1 | Public Service Electric & Gas Co. | 4.650% | 3/15/33 | 10,181 | 9,859 | |
Public Service Electric & Gas Co. | 5.200% | 8/1/33 | 10,000 | 10,094 | ||
Public Service Enterprise Group Inc. | 1.600% | 8/15/30 | 12,335 | 9,700 | ||
Public Service Enterprise Group Inc. | 2.450% | 11/15/31 | 18,735 | 15,065 | ||
Puget Energy Inc. | 4.100% | 6/15/30 | 19,764 | 17,661 | ||
Puget Energy Inc. | 4.224% | 3/15/32 | 9,838 | 8,675 | ||
1 | San Diego Gas & Electric Co. | 1.700% | 10/1/30 | 17,874 | 14,214 | |
1 | San Diego Gas & Electric Co. | 3.000% | 3/15/32 | 12,361 | 10,511 | |
Sempra | 3.700% | 4/1/29 | 14,539 | 13,264 | ||
Sempra | 5.500% | 8/1/33 | 7,500 | 7,438 | ||
1 | Southern California Edison Co. | 4.200% | 3/1/29 | 18,458 | 17,513 | |
Southern California Edison Co. | 6.650% | 4/1/29 | 7,269 | 7,542 | ||
Southern California Edison Co. | 2.850% | 8/1/29 | 7,327 | 6,447 | ||
Southern California Edison Co. | 2.250% | 6/1/30 | 18,928 | 15,729 | ||
1 | Southern California Edison Co. | 2.500% | 6/1/31 | 15,962 | 13,119 | |
Southern California Edison Co. | 2.750% | 2/1/32 | 10,033 | 8,321 | ||
Southern California Edison Co. | 5.950% | 11/1/32 | 16,631 | 17,241 | ||
1 | Southern California Gas Co. | 2.550% | 2/1/30 | 20,478 | 17,423 | |
Southern California Gas Co. | 5.200% | 6/1/33 | 11,915 | 11,697 | ||
1 | Southern Co. | 3.700% | 4/30/30 | 15,401 | 13,949 | |
Southern Co. | 5.700% | 10/15/32 | 18,500 | 18,775 | ||
Southern Co. | 5.200% | 6/15/33 | 32,050 | 31,181 | ||
1 | Southern Co. Gas Capital Corp. | 1.750% | 1/15/31 | 18,551 | 14,436 | |
Southern Co. Gas Capital Corp. | 5.150% | 9/15/32 | 12,018 | 11,731 | ||
Southwest Gas Corp. | 2.200% | 6/15/30 | 5,832 | 4,715 | ||
Southwest Gas Corp. | 4.050% | 3/15/32 | 15,026 | 13,463 | ||
1 | Southwestern Electric Power Co. | 4.100% | 9/15/28 | 16,236 | 15,372 | |
Southwestern Electric Power Co. | 5.300% | 4/1/33 | 10,286 | 10,069 | ||
Spire Missouri Inc. | 4.800% | 2/15/33 | 8,242 | 8,013 | ||
Tampa Electric Co. | 2.400% | 3/15/31 | 10,035 | 8,180 | ||
Tucson Electric Power Co. | 1.500% | 8/1/30 | 5,549 | 4,334 | ||
Tucson Electric Power Co. | 3.250% | 5/15/32 | 7,481 | 6,420 | ||
Union Electric Co. | 3.500% | 3/15/29 | 18,950 | 17,446 | ||
Union Electric Co. | 2.950% | 3/15/30 | 10,233 | 8,978 | ||
Union Electric Co. | 2.150% | 3/15/32 | 3,041 | 2,405 | ||
1 | Virginia Electric & Power Co. | 2.875% | 7/15/29 | 19,935 | 17,703 | |
Virginia Electric & Power Co. | 2.300% | 11/15/31 | 10,531 | 8,483 | ||
Virginia Electric & Power Co. | 2.400% | 3/30/32 | 15,327 | 12,355 | ||
Virginia Electric & Power Co. | 5.000% | 4/1/33 | 28,595 | 27,813 | ||
Virginia Electric & Power Co. | 5.300% | 8/15/33 | 12,105 | 11,992 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
WEC Energy Group Inc. | 2.200% | 12/15/28 | 7,988 | 6,899 | ||
WEC Energy Group Inc. | 1.800% | 10/15/30 | 12,746 | 9,998 | ||
Wisconsin Electric Power Co. | 4.750% | 9/30/32 | 12,203 | 11,923 | ||
Wisconsin Electric Power Co. | 5.625% | 5/15/33 | 5,875 | 6,037 | ||
Wisconsin Power & Light Co. | 3.000% | 7/1/29 | 8,568 | 7,662 | ||
Wisconsin Power & Light Co. | 1.950% | 9/16/31 | 3,282 | 2,587 | ||
Wisconsin Power & Light Co. | 3.950% | 9/1/32 | 13,403 | 12,205 | ||
Wisconsin Power & Light Co. | 4.950% | 4/1/33 | 7,113 | 6,903 | ||
Xcel Energy Inc. | 2.600% | 12/1/29 | 8,611 | 7,369 | ||
Xcel Energy Inc. | 3.400% | 6/1/30 | 11,003 | 9,757 | ||
Xcel Energy Inc. | 2.350% | 11/15/31 | 3,050 | 2,405 | ||
Xcel Energy Inc. | 4.600% | 6/1/32 | 22,579 | 21,089 | ||
Xcel Energy Inc. | 5.450% | 8/15/33 | 20,000 | 19,682 | ||
3,348,438 | ||||||
Total Corporate Bonds (Cost $45,747,508) | 41,102,545 | |||||
Shares | ||||||
Temporary Cash Investments (0.1%) | ||||||
Money Market Fund (0.1%) | ||||||
4 | Vanguard Market Liquidity Fund (Cost $56,905) | 5.384% | 569,108 | 56,906 | ||
Total Investments (98.7%) (Cost $45,823,748) | 41,178,787 | |||||
Other Assets and Liabilities—Net (1.3%) | 537,823 | |||||
Net Assets (100%) | 41,716,610 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2023, the aggregate value was $364,926,000, representing 0.9% of net assets. |
3 | Securities with a value of $5,518,000 have been segregated as initial margin for open futures contracts. |
4 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
DAC—Designated Activity Company. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Ultra 10-Year U.S. Treasury Note | December 2023 | 710 | 82,438 | 28 |
Short Futures Contracts | ||||
10-Year U.S. Treasury Note | December 2023 | (669) | (74,280) | (470) |
(442) |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $45,766,843) | 41,121,881 |
Affiliated Issuers (Cost $56,905) | 56,906 |
Total Investments in Securities | 41,178,787 |
Investment in Vanguard | 1,366 |
Cash | 45 |
Receivables for Investment Securities Sold | 674,447 |
Receivables for Accrued Income | 482,520 |
Receivables for Capital Shares Issued | 6,880 |
Total Assets | 42,344,045 |
Liabilities | |
Payables for Investment Securities Purchased | 622,621 |
Payables for Capital Shares Redeemed | 2,706 |
Payables for Distributions | 1,131 |
Payables to Vanguard | 736 |
Variation Margin Payable—Futures Contracts | 241 |
Total Liabilities | 627,435 |
Net Assets | 41,716,610 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 48,614,843 |
Total Distributable Earnings (Loss) | (6,898,233) |
Net Assets | 41,716,610 |
ETF Shares—Net Assets | |
Applicable to 514,404,655 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 40,262,343 |
Net Asset Value Per Share—ETF Shares | $78.27 |
Admiral Shares—Net Assets | |
Applicable to 54,889,143 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,155,869 |
Net Asset Value Per Share—Admiral Shares | $21.06 |
Institutional Shares—Net Assets | |
Applicable to 11,468,697 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 298,398 |
Net Asset Value Per Share—Institutional Shares | $26.02 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 1,491,068 |
Total Income | 1,491,068 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 909 |
Management and Administrative—ETF Shares | 11,381 |
Management and Administrative—Admiral Shares | 700 |
Management and Administrative—Institutional Shares | 126 |
Marketing and Distribution—ETF Shares | 2,246 |
Marketing and Distribution—Admiral Shares | 54 |
Marketing and Distribution—Institutional Shares | 10 |
Custodian Fees | 248 |
Auditing Fees | 52 |
Shareholders’ Reports—ETF Shares | 1,145 |
Shareholders’ Reports—Admiral Shares | 10 |
Shareholders’ Reports—Institutional Shares | — |
Trustees’ Fees and Expenses | 21 |
Other Expenses | 33 |
Total Expenses | 16,935 |
Expenses Paid Indirectly | (105) |
Net Expenses | 16,830 |
Net Investment Income | 1,474,238 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | (2,268,473) |
Futures Contracts | (8,129) |
Realized Net Gain (Loss) | (2,276,602) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 1,444,124 |
Futures Contracts | (1,647) |
Change in Unrealized Appreciation (Depreciation) | 1,442,477 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 640,113 |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $3,250,000, ($9,000), less than $1,000, and ($1,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes ($673,115,000) of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 1,474,238 | 1,152,633 |
Realized Net Gain (Loss) | (2,276,602) | (1,034,828) |
Change in Unrealized Appreciation (Depreciation) | 1,442,477 | (7,147,932) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 640,113 | (7,030,127) |
Distributions | ||
ETF Shares | (1,395,436) | (1,391,106) |
Admiral Shares | (40,629) | (42,805) |
Institutional Shares | (10,435) | (11,765) |
Total Distributions | (1,446,500) | (1,445,676) |
Capital Share Transactions | ||
ETF Shares | (21,734) | 2,345,913 |
Admiral Shares | 41,155 | (199,618) |
Institutional Shares | (31,538) | (38,320) |
Net Increase (Decrease) from Capital Share Transactions | (12,117) | 2,107,975 |
Total Increase (Decrease) | (818,504) | (6,367,828) |
Net Assets | ||
Beginning of Period | 42,535,114 | 48,902,942 |
End of Period | 41,716,610 | 42,535,114 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $79.83 | $95.57 | $95.98 | $91.82 | $84.02 |
Investment Operations | |||||
Net Investment Income1 | 2.808 | 2.171 | 2.163 | 2.761 | 3.132 |
Net Realized and Unrealized Gain (Loss) on Investments | (1.605) | (15.176) | (.205) | 4.205 | 7.768 |
Total from Investment Operations | 1.203 | (13.005) | 1.958 | 6.966 | 10.900 |
Distributions | |||||
Dividends from Net Investment Income | (2.763) | (2.141) | (2.169) | (2.806) | (3.100) |
Distributions from Realized Capital Gains | — | (.594) | (.199) | — | — |
Total Distributions | (2.763) | (2.735) | (2.368) | (2.806) | (3.100) |
Net Asset Value, End of Period | $78.27 | $79.83 | $95.57 | $95.98 | $91.82 |
Total Return | 1.55% | -13.86% | 2.08% | 7.78% | 13.33% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $40,262 | $41,058 | $46,873 | $38,944 | $24,080 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04%2 | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 3.58% | 2.48% | 2.27% | 2.99% | 3.65% |
Portfolio Turnover Rate3 | 76% | 58% | 53% | 72% | 59% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $21.49 | $25.75 | $25.86 | $24.71 | $22.61 |
Investment Operations | |||||
Net Investment Income1 | .752 | .577 | .578 | .747 | .839 |
Net Realized and Unrealized Gain (Loss) on Investments | (.429) | (4.098) | (.062) | 1.138 | 2.097 |
Total from Investment Operations | .323 | (3.521) | .516 | 1.885 | 2.936 |
Distributions | |||||
Dividends from Net Investment Income | (.753) | (.579) | (.572) | (.735) | (.836) |
Distributions from Realized Capital Gains | — | (.160) | (.054) | — | — |
Total Distributions | (.753) | (.739) | (.626) | (.735) | (.836) |
Net Asset Value, End of Period | $21.06 | $21.49 | $25.75 | $25.86 | $24.71 |
Total Return2 | 1.55% | -13.90% | 2.03% | 7.79% | 13.30% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,156 | $1,139 | $1,587 | $1,549 | $1,381 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 3.56% | 2.44% | 2.25% | 3.01% | 3.63% |
Portfolio Turnover Rate4 | 76% | 58% | 53% | 72% | 59% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction and account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $26.56 | $31.82 | $31.95 | $30.53 | $27.94 |
Investment Operations | |||||
Net Investment Income1 | .934 | .720 | .720 | .940 | 1.044 |
Net Realized and Unrealized Gain (Loss) on Investments | (.538) | (5.061) | (.070) | 1.394 | 2.584 |
Total from Investment Operations | .396 | (4.341) | .650 | 2.334 | 3.628 |
Distributions | |||||
Dividends from Net Investment Income | (.936) | (.721) | (.714) | (.914) | (1.038) |
Distributions from Realized Capital Gains | — | (.198) | (.066) | — | — |
Total Distributions | (.936) | (.919) | (.780) | (.914) | (1.038) |
Net Asset Value, End of Period | $26.02 | $26.56 | $31.82 | $31.95 | $30.53 |
Total Return2 | 1.54% | -13.87% | 2.07% | 7.81% | 13.30% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $298 | $338 | $443 | $357 | $406 |
Ratio of Total Expenses to Average Net Assets | 0.05%3 | 0.05%3 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 3.57% | 2.46% | 2.27% | 3.07% | 3.65% |
Portfolio Turnover Rate4 | 76% | 58% | 53% | 72% | 59% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 19,336 | — | 19,336 |
Corporate Bonds | — | 41,102,545 | — | 41,102,545 |
Temporary Cash Investments | 56,906 | — | — | 56,906 |
Total | 56,906 | 41,121,881 | — | 41,178,787 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 28 | — | — | 28 |
Liabilities | ||||
Futures Contracts1 | 470 | — | — | 470 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Paid-in Capital | (674,107) |
Total Distributable Earnings (Loss) | 674,107 |
Amount ($000) | |
Undistributed Ordinary Income | 135,515 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (4,658,500) |
Capital Loss Carryforwards | (2,374,117) |
Qualified Late-Year Losses | — |
Other Temporary Differences | (1,131) |
Total | (6,898,233) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 1,446,500 | 1,156,420 |
Long-Term Capital Gains | — | 289,256 |
Total | 1,446,500 | 1,445,676 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 45,837,287 |
Gross Unrealized Appreciation | 47,077 |
Gross Unrealized Depreciation | (4,705,577) |
Net Unrealized Appreciation (Depreciation) | (4,658,500) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued1 | 14,317,759 | 183,108 | 14,929,685 | 172,762 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (14,339,493) | (183,000) | (12,583,772) | (148,900) | |
Net Increase (Decrease)—ETF Shares | (21,734) | 108 | 2,345,913 | 23,862 | |
Admiral Shares | |||||
Issued1 | 270,804 | 12,775 | 209,913 | 8,814 | |
Issued in Lieu of Cash Distributions | 31,974 | 1,513 | 34,023 | 1,432 | |
Redeemed | (261,623) | (12,393) | (443,554) | (18,893) | |
Net Increase (Decrease)—Admiral Shares | 41,155 | 1,895 | (199,618) | (8,647) | |
Institutional Shares | |||||
Issued1 | 33,180 | 1,266 | 56,884 | 1,961 | |
Issued in Lieu of Cash Distributions | 7,005 | 268 | 8,074 | 277 | |
Redeemed | (71,723) | (2,804) | (103,278) | (3,421) | |
Net Increase (Decrease)—Institutional Shares | (31,538) | (1,270) | (38,320) | (1,183) |
1 | Includes purchase fees for fiscal 2023 and 2022 of $735,000 and $653,000, respectively (fund totals). |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Long-Term Corporate Bond Index Fund ETF Shares Net Asset Value | -1.27% | 0.80% | 3.33% | $13,875 | |
Long-Term Corporate Bond Index Fund ETF Shares Market Price | -0.84 | 0.78 | 3.36 | 13,919 | |
Bloomberg U.S. 10+ Year Corporate Bond Index | -1.21 | 0.80 | 3.30 | 13,837 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Long-Term Corporate Bond Index Fund Admiral Shares | -2.24% | 0.58% | 3.22% | $13,733 | |
Bloomberg U.S. 10+ Year Corporate Bond Index | -1.21 | 0.80 | 3.30 | 13,837 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Long-Term Corporate Bond Index Fund Institutional Shares | -2.26% | 0.59% | 3.24% | $6,874,677 | |
Bloomberg U.S. 10+ Year Corporate Bond Index | -1.21 | 0.80 | 3.30 | 6,918,415 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 5,805,239 |
Cumulative Returns of ETF Shares: August 31, 2013, Through August 31, 2023 | |||
One Year | Five Years | Ten Years | |
Long-Term Corporate Bond Index Fund ETF Shares Market Price | -0.84% | 3.95% | 39.19% |
Long-Term Corporate Bond Index Fund ETF Shares Net Asset Value | -1.27 | 4.05 | 38.75 |
Bloomberg U.S. 10+ Year Corporate Bond Index | -1.21 | 4.06 | 38.37 |
Corporate Bonds – Communications | 12.3% |
Corporate Bonds – Consumer Discretionary | 5.8 |
Corporate Bonds – Consumer Staples | 7.8 |
Corporate Bonds – Energy | 9.2 |
Corporate Bonds – Financials | 13.8 |
Corporate Bonds – Health Care | 15.9 |
Corporate Bonds – Industrials | 8.6 |
Corporate Bonds – Materials | 3.6 |
Corporate Bonds – Real Estate | 1.5 |
Corporate Bonds – Technology | 9.1 |
Corporate Bonds – Utilities | 12.4 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Corporate Bonds (98.2%) | ||||||
Communications (12.1%) | ||||||
Activision Blizzard Inc. | 4.500% | 6/15/47 | 1,362 | 1,251 | ||
Activision Blizzard Inc. | 2.500% | 9/15/50 | 5,089 | 3,236 | ||
Alphabet Inc. | 1.900% | 8/15/40 | 5,250 | 3,521 | ||
Alphabet Inc. | 2.050% | 8/15/50 | 7,980 | 4,775 | ||
Alphabet Inc. | 2.250% | 8/15/60 | 6,670 | 3,890 | ||
America Movil SAB de CV | 6.375% | 3/1/35 | 1,790 | 1,929 | ||
America Movil SAB de CV | 6.125% | 11/15/37 | 1,664 | 1,736 | ||
America Movil SAB de CV | 6.125% | 3/30/40 | 7,095 | 7,356 | ||
America Movil SAB de CV | 4.375% | 7/16/42 | 3,504 | 2,970 | ||
America Movil SAB de CV | 4.375% | 4/22/49 | 3,540 | 2,989 | ||
AT&T Inc. | 2.550% | 12/1/33 | 10,616 | 8,099 | ||
AT&T Inc. | 5.400% | 2/15/34 | 5,785 | 5,617 | ||
AT&T Inc. | 4.500% | 5/15/35 | 11,499 | 10,208 | ||
AT&T Inc. | 5.250% | 3/1/37 | 4,900 | 4,639 | ||
AT&T Inc. | 4.900% | 8/15/37 | 5,219 | 4,722 | ||
AT&T Inc. | 4.850% | 3/1/39 | 5,007 | 4,449 | ||
AT&T Inc. | 5.350% | 9/1/40 | 1,732 | 1,613 | ||
AT&T Inc. | 3.500% | 6/1/41 | 9,836 | 7,209 | ||
AT&T Inc. | 4.300% | 12/15/42 | 6,419 | 5,202 | ||
AT&T Inc. | 3.100% | 2/1/43 | 1,601 | 1,116 | ||
AT&T Inc. | 4.650% | 6/1/44 | 1,065 | 880 | ||
AT&T Inc. | 4.350% | 6/15/45 | 2,838 | 2,236 | ||
AT&T Inc. | 4.750% | 5/15/46 | 6,233 | 5,183 | ||
1 | AT&T Inc. | 5.150% | 11/15/46 | 5,548 | 4,868 | |
AT&T Inc. | 5.450% | 3/1/47 | 1,066 | 987 | ||
AT&T Inc. | 4.500% | 3/9/48 | 9,923 | 7,918 | ||
AT&T Inc. | 4.550% | 3/9/49 | 6,474 | 5,198 | ||
AT&T Inc. | 5.150% | 2/15/50 | 2,644 | 2,331 | ||
AT&T Inc. | 3.650% | 6/1/51 | 8,951 | 6,122 | ||
AT&T Inc. | 3.500% | 9/15/53 | 23,622 | 15,546 | ||
AT&T Inc. | 3.550% | 9/15/55 | 26,226 | 17,114 | ||
AT&T Inc. | 3.800% | 12/1/57 | 24,741 | 16,658 | ||
AT&T Inc. | 3.650% | 9/15/59 | 19,576 | 12,668 | ||
AT&T Inc. | 3.850% | 6/1/60 | 3,819 | 2,596 | ||
AT&T Inc. | 3.500% | 2/1/61 | 1,060 | 683 | ||
Bell Telephone Co. of Canada or Bell Canada | 4.464% | 4/1/48 | 3,770 | 3,092 | ||
Bell Telephone Co. of Canada or Bell Canada | 4.300% | 7/29/49 | 1,852 | 1,476 | ||
1 | Bell Telephone Co. of Canada or Bell Canada | 3.650% | 3/17/51 | 1,798 | 1,289 | |
1 | Bell Telephone Co. of Canada or Bell Canada | 3.200% | 2/15/52 | 1,930 | 1,266 | |
Bell Telephone Co. of Canada or Bell Canada | 3.650% | 8/15/52 | 2,132 | 1,521 | ||
Charter Communications Operating LLC | 6.384% | 10/23/35 | 5,773 | 5,597 | ||
Charter Communications Operating LLC | 5.375% | 4/1/38 | 2,566 | 2,168 | ||
Charter Communications Operating LLC | 3.500% | 6/1/41 | 5,912 | 3,906 | ||
Charter Communications Operating LLC | 3.500% | 3/1/42 | 4,764 | 3,110 | ||
Charter Communications Operating LLC | 6.484% | 10/23/45 | 11,847 | 10,877 | ||
Charter Communications Operating LLC | 5.375% | 5/1/47 | 8,463 | 6,751 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Charter Communications Operating LLC | 5.750% | 4/1/48 | 5,148 | 4,335 | ||
Charter Communications Operating LLC | 5.125% | 7/1/49 | 2,658 | 2,044 | ||
Charter Communications Operating LLC | 4.800% | 3/1/50 | 9,385 | 6,926 | ||
Charter Communications Operating LLC | 3.700% | 4/1/51 | 5,766 | 3,573 | ||
Charter Communications Operating LLC | 3.900% | 6/1/52 | 8,040 | 5,132 | ||
Charter Communications Operating LLC | 5.250% | 4/1/53 | 7,084 | 5,600 | ||
Charter Communications Operating LLC | 6.834% | 10/23/55 | 2,380 | 2,219 | ||
Charter Communications Operating LLC | 3.850% | 4/1/61 | 5,781 | 3,451 | ||
Charter Communications Operating LLC | 4.400% | 12/1/61 | 4,413 | 2,904 | ||
Charter Communications Operating LLC | 3.950% | 6/30/62 | 2,598 | 1,564 | ||
Charter Communications Operating LLC | 5.500% | 4/1/63 | 5,920 | 4,654 | ||
Comcast Corp. | 7.050% | 3/15/33 | 27 | 30 | ||
Comcast Corp. | 4.200% | 8/15/34 | 4,528 | 4,137 | ||
Comcast Corp. | 5.650% | 6/15/35 | 3,588 | 3,714 | ||
Comcast Corp. | 4.400% | 8/15/35 | 2,628 | 2,430 | ||
Comcast Corp. | 6.500% | 11/15/35 | 1,800 | 1,991 | ||
Comcast Corp. | 3.200% | 7/15/36 | 1,557 | 1,258 | ||
Comcast Corp. | 6.450% | 3/15/37 | 473 | 516 | ||
Comcast Corp. | 6.950% | 8/15/37 | 840 | 949 | ||
Comcast Corp. | 3.900% | 3/1/38 | 5,110 | 4,349 | ||
Comcast Corp. | 4.600% | 10/15/38 | 2,461 | 2,262 | ||
Comcast Corp. | 6.550% | 7/1/39 | 2,593 | 2,851 | ||
Comcast Corp. | 3.250% | 11/1/39 | 3,080 | 2,372 | ||
Comcast Corp. | 3.750% | 4/1/40 | 5,046 | 4,150 | ||
Comcast Corp. | 4.650% | 7/15/42 | 2,497 | 2,240 | ||
Comcast Corp. | 4.600% | 8/15/45 | 4,663 | 4,086 | ||
Comcast Corp. | 3.400% | 7/15/46 | 1,846 | 1,349 | ||
Comcast Corp. | 4.000% | 8/15/47 | 4,550 | 3,647 | ||
Comcast Corp. | 3.969% | 11/1/47 | 5,662 | 4,538 | ||
Comcast Corp. | 4.000% | 3/1/48 | 2,592 | 2,083 | ||
Comcast Corp. | 4.700% | 10/15/48 | 5,046 | 4,571 | ||
Comcast Corp. | 3.999% | 11/1/49 | 6,209 | 4,945 | ||
Comcast Corp. | 3.450% | 2/1/50 | 5,598 | 4,083 | ||
Comcast Corp. | 2.800% | 1/15/51 | 6,661 | 4,208 | ||
Comcast Corp. | 2.887% | 11/1/51 | 17,959 | 11,476 | ||
Comcast Corp. | 2.450% | 8/15/52 | 994 | 582 | ||
Comcast Corp. | 4.049% | 11/1/52 | 6,624 | 5,296 | ||
Comcast Corp. | 5.350% | 5/15/53 | 6,660 | 6,516 | ||
Comcast Corp. | 2.937% | 11/1/56 | 17,929 | 11,140 | ||
Comcast Corp. | 4.950% | 10/15/58 | 1,345 | 1,239 | ||
Comcast Corp. | 2.650% | 8/15/62 | 3,486 | 1,994 | ||
Comcast Corp. | 2.987% | 11/1/63 | 13,740 | 8,288 | ||
Comcast Corp. | 5.500% | 5/15/64 | 7,150 | 6,966 | ||
Discovery Communications LLC | 5.000% | 9/20/37 | 957 | 816 | ||
Discovery Communications LLC | 6.350% | 6/1/40 | 2,024 | 1,939 | ||
Discovery Communications LLC | 4.875% | 4/1/43 | 1,684 | 1,336 | ||
Discovery Communications LLC | 5.200% | 9/20/47 | 4,988 | 4,036 | ||
Discovery Communications LLC | 5.300% | 5/15/49 | 1,200 | 977 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Discovery Communications LLC | 4.650% | 5/15/50 | 3,768 | 2,814 | ||
Discovery Communications LLC | 4.000% | 9/15/55 | 4,325 | 2,818 | ||
Electronic Arts Inc. | 2.950% | 2/15/51 | 3,188 | 2,055 | ||
Fox Corp. | 5.476% | 1/25/39 | 3,443 | 3,113 | ||
Fox Corp. | 5.576% | 1/25/49 | 5,320 | 4,739 | ||
Grupo Televisa SAB | 6.625% | 1/15/40 | 1,612 | 1,647 | ||
Grupo Televisa SAB | 5.000% | 5/13/45 | 2,495 | 2,075 | ||
Grupo Televisa SAB | 6.125% | 1/31/46 | 3,380 | 3,255 | ||
Grupo Televisa SAB | 5.250% | 5/24/49 | 1,995 | 1,734 | ||
Interpublic Group of Cos. Inc. | 3.375% | 3/1/41 | 2,421 | 1,707 | ||
Interpublic Group of Cos. Inc. | 5.400% | 10/1/48 | 1,617 | 1,471 | ||
Meta Platforms Inc. | 4.450% | 8/15/52 | 9,361 | 7,935 | ||
Meta Platforms Inc. | 5.600% | 5/15/53 | 8,311 | 8,339 | ||
Meta Platforms Inc. | 4.650% | 8/15/62 | 4,705 | 3,998 | ||
Meta Platforms Inc. | 5.750% | 5/15/63 | 5,929 | 5,979 | ||
NBCUniversal Media LLC | 6.400% | 4/30/40 | 482 | 522 | ||
NBCUniversal Media LLC | 5.950% | 4/1/41 | 2,988 | 3,121 | ||
�� | NBCUniversal Media LLC | 4.450% | 1/15/43 | 3,360 | 2,939 | |
Orange SA | 5.375% | 1/13/42 | 2,839 | 2,720 | ||
Orange SA | 5.500% | 2/6/44 | 2,496 | 2,434 | ||
Paramount Global | 6.875% | 4/30/36 | 4,078 | 3,926 | ||
Paramount Global | 5.900% | 10/15/40 | 591 | 494 | ||
Paramount Global | 4.850% | 7/1/42 | 3,174 | 2,300 | ||
Paramount Global | 4.375% | 3/15/43 | 3,051 | 2,102 | ||
Paramount Global | 5.850% | 9/1/43 | 3,949 | 3,267 | ||
Paramount Global | 5.250% | 4/1/44 | 1,232 | 923 | ||
Paramount Global | 4.900% | 8/15/44 | 1,531 | 1,091 | ||
Paramount Global | 4.600% | 1/15/45 | 1,374 | 952 | ||
Paramount Global | 4.950% | 5/19/50 | 3,797 | 2,775 | ||
Rogers Communications Inc. | 7.500% | 8/15/38 | 1,578 | 1,699 | ||
Rogers Communications Inc. | 4.500% | 3/15/42 | 2,530 | 2,034 | ||
Rogers Communications Inc. | 4.500% | 3/15/43 | 1,549 | 1,235 | ||
Rogers Communications Inc. | 5.450% | 10/1/43 | 1,595 | 1,427 | ||
Rogers Communications Inc. | 5.000% | 3/15/44 | 3,332 | 2,829 | ||
Rogers Communications Inc. | 4.300% | 2/15/48 | 2,548 | 1,898 | ||
Rogers Communications Inc. | 4.350% | 5/1/49 | 4,227 | 3,195 | ||
Rogers Communications Inc. | 3.700% | 11/15/49 | 2,992 | 2,028 | ||
Rogers Communications Inc. | 4.550% | 3/15/52 | 6,697 | 5,183 | ||
Telefonica Emisiones SA | 7.045% | 6/20/36 | 7,704 | 8,222 | ||
Telefonica Emisiones SA | 4.665% | 3/6/38 | 3,245 | 2,684 | ||
Telefonica Emisiones SA | 5.213% | 3/8/47 | 7,869 | 6,598 | ||
Telefonica Emisiones SA | 4.895% | 3/6/48 | 5,829 | 4,653 | ||
Telefonica Emisiones SA | 5.520% | 3/1/49 | 2,551 | 2,226 | ||
TELUS Corp. | 4.600% | 11/16/48 | 2,449 | 2,022 | ||
TELUS Corp. | 4.300% | 6/15/49 | 1,410 | 1,096 | ||
Thomson Reuters Corp. | 5.500% | 8/15/35 | 1,320 | 1,291 | ||
Thomson Reuters Corp. | 5.850% | 4/15/40 | 1,394 | 1,363 | ||
Thomson Reuters Corp. | 5.650% | 11/23/43 | 893 | 812 | ||
Time Warner Cable LLC | 6.550% | 5/1/37 | 5,041 | 4,784 | ||
Time Warner Cable LLC | 7.300% | 7/1/38 | 5,139 | 5,193 | ||
Time Warner Cable LLC | 6.750% | 6/15/39 | 3,859 | 3,723 | ||
Time Warner Cable LLC | 5.875% | 11/15/40 | 3,798 | 3,292 | ||
Time Warner Cable LLC | 5.500% | 9/1/41 | 5,295 | 4,342 | ||
Time Warner Cable LLC | 4.500% | 9/15/42 | 5,334 | 3,899 | ||
T-Mobile USA Inc. | 4.375% | 4/15/40 | 6,535 | 5,608 | ||
T-Mobile USA Inc. | 3.000% | 2/15/41 | 5,486 | 3,867 | ||
T-Mobile USA Inc. | 4.500% | 4/15/50 | 9,974 | 8,237 | ||
T-Mobile USA Inc. | 3.300% | 2/15/51 | 8,663 | 5,804 | ||
T-Mobile USA Inc. | 3.400% | 10/15/52 | 6,841 | 4,631 | ||
T-Mobile USA Inc. | 5.650% | 1/15/53 | 9,416 | 9,175 | ||
T-Mobile USA Inc. | 5.750% | 1/15/54 | 6,122 | 6,048 | ||
T-Mobile USA Inc. | 3.600% | 11/15/60 | 3,406 | 2,279 | ||
T-Mobile USA Inc. | 5.800% | 9/15/62 | 2,842 | 2,755 | ||
TWDC Enterprises 18 Corp. | 4.375% | 8/16/41 | 1,823 | 1,590 | ||
1 | TWDC Enterprises 18 Corp. | 4.125% | 12/1/41 | 2,716 | 2,310 | |
1 | TWDC Enterprises 18 Corp. | 3.700% | 12/1/42 | 1,243 | 990 | |
1 | TWDC Enterprises 18 Corp. | 4.125% | 6/1/44 | 3,940 | 3,312 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | TWDC Enterprises 18 Corp. | 3.000% | 7/30/46 | 1,372 | 939 | |
Verizon Communications Inc. | 6.400% | 9/15/33 | 455 | 478 | ||
Verizon Communications Inc. | 4.400% | 11/1/34 | 5,736 | 5,190 | ||
Verizon Communications Inc. | 5.850% | 9/15/35 | 200 | 201 | ||
Verizon Communications Inc. | 4.272% | 1/15/36 | 5,487 | 4,870 | ||
Verizon Communications Inc. | 5.250% | 3/16/37 | 5,647 | 5,498 | ||
Verizon Communications Inc. | 4.812% | 3/15/39 | 7,788 | 7,069 | ||
Verizon Communications Inc. | 2.650% | 11/20/40 | 6,510 | 4,334 | ||
Verizon Communications Inc. | 3.400% | 3/22/41 | 10,699 | 7,945 | ||
Verizon Communications Inc. | 2.850% | 9/3/41 | 4,465 | 3,044 | ||
Verizon Communications Inc. | 4.750% | 11/1/41 | 2,930 | 2,635 | ||
Verizon Communications Inc. | 3.850% | 11/1/42 | 1,933 | 1,500 | ||
Verizon Communications Inc. | 6.550% | 9/15/43 | 2,908 | 3,237 | ||
Verizon Communications Inc. | 4.125% | 8/15/46 | 619 | 492 | ||
Verizon Communications Inc. | 4.862% | 8/21/46 | 8,946 | 7,860 | ||
Verizon Communications Inc. | 5.500% | 3/16/47 | 2,368 | 2,297 | ||
Verizon Communications Inc. | 4.522% | 9/15/48 | 3,684 | 3,094 | ||
Verizon Communications Inc. | 4.000% | 3/22/50 | 5,552 | 4,244 | ||
Verizon Communications Inc. | 2.875% | 11/20/50 | 11,052 | 6,775 | ||
Verizon Communications Inc. | 3.550% | 3/22/51 | 17,875 | 12,498 | ||
Verizon Communications Inc. | 3.875% | 3/1/52 | 1,143 | 855 | ||
Verizon Communications Inc. | 5.012% | 8/21/54 | 4,040 | 3,588 | ||
Verizon Communications Inc. | 4.672% | 3/15/55 | 4,094 | 3,451 | ||
Verizon Communications Inc. | 2.987% | 10/30/56 | 9,799 | 5,852 | ||
Verizon Communications Inc. | 3.000% | 11/20/60 | 4,694 | 2,756 | ||
Verizon Communications Inc. | 3.700% | 3/22/61 | 9,781 | 6,652 | ||
Vodafone Group plc | 6.150% | 2/27/37 | 7,048 | 7,217 | ||
Vodafone Group plc | 5.000% | 5/30/38 | 250 | 232 | ||
Vodafone Group plc | 4.375% | 2/19/43 | 4,515 | 3,678 | ||
Vodafone Group plc | 5.250% | 5/30/48 | 4,170 | 3,763 | ||
Vodafone Group plc | 4.875% | 6/19/49 | 5,897 | 4,998 | ||
Vodafone Group plc | 4.250% | 9/17/50 | 6,952 | 5,345 | ||
Vodafone Group plc | 5.625% | 2/10/53 | 2,269 | 2,143 | ||
Vodafone Group plc | 5.125% | 6/19/59 | 1,126 | 961 | ||
Vodafone Group plc | 5.750% | 2/10/63 | 1,925 | 1,788 | ||
Walt Disney Co. | 6.200% | 12/15/34 | 1,793 | 1,943 | ||
Walt Disney Co. | 6.400% | 12/15/35 | 3,223 | 3,532 | ||
Walt Disney Co. | 6.150% | 3/1/37 | 847 | 893 | ||
Walt Disney Co. | 6.650% | 11/15/37 | 5,137 | 5,785 | ||
Walt Disney Co. | 4.625% | 3/23/40 | 3,972 | 3,684 | ||
Walt Disney Co. | 3.500% | 5/13/40 | 5,295 | 4,242 | ||
Walt Disney Co. | 6.150% | 2/15/41 | 1,983 | 2,125 | ||
Walt Disney Co. | 5.400% | 10/1/43 | 1,285 | 1,278 | ||
Walt Disney Co. | 4.750% | 9/15/44 | 2,444 | 2,234 | ||
Walt Disney Co. | 4.950% | 10/15/45 | 1,701 | 1,572 | ||
Walt Disney Co. | 7.750% | 12/1/45 | 1,786 | 2,270 | ||
Walt Disney Co. | 4.750% | 11/15/46 | 2,156 | 1,956 | ||
Walt Disney Co. | 2.750% | 9/1/49 | 6,616 | 4,245 | ||
Walt Disney Co. | 4.700% | 3/23/50 | 5,025 | 4,569 | ||
Walt Disney Co. | 3.600% | 1/13/51 | 6,439 | 4,831 | ||
Walt Disney Co. | 3.800% | 5/13/60 | 4,908 | 3,699 | ||
Warnermedia Holdings Inc. | 5.050% | 3/15/42 | 14,571 | 11,985 | ||
Warnermedia Holdings Inc. | 5.141% | 3/15/52 | 24,402 | 19,440 | ||
Warnermedia Holdings Inc. | 5.391% | 3/15/62 | 10,986 | 8,706 | ||
844,377 | ||||||
Consumer Discretionary (5.7%) | ||||||
Alibaba Group Holding Ltd. | 4.500% | 11/28/34 | 2,452 | 2,200 | ||
Alibaba Group Holding Ltd. | 4.000% | 12/6/37 | 3,729 | 3,026 | ||
Alibaba Group Holding Ltd. | 2.700% | 2/9/41 | 3,571 | 2,279 | ||
Alibaba Group Holding Ltd. | 4.200% | 12/6/47 | 6,045 | 4,503 | ||
Alibaba Group Holding Ltd. | 3.150% | 2/9/51 | 3,276 | 1,984 | ||
Alibaba Group Holding Ltd. | 4.400% | 12/6/57 | 3,961 | 2,922 | ||
Alibaba Group Holding Ltd. | 3.250% | 2/9/61 | 3,151 | 1,818 | ||
Amazon.com Inc. | 4.800% | 12/5/34 | 4,330 | 4,345 | ||
Amazon.com Inc. | 3.875% | 8/22/37 | 7,713 | 6,955 | ||
Amazon.com Inc. | 2.875% | 5/12/41 | 4,105 | 3,074 | ||
Amazon.com Inc. | 4.950% | 12/5/44 | 6,461 | 6,370 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Amazon.com Inc. | 4.050% | 8/22/47 | 10,656 | 9,202 | ||
Amazon.com Inc. | 2.500% | 6/3/50 | 5,415 | 3,448 | ||
Amazon.com Inc. | 3.100% | 5/12/51 | 10,251 | 7,314 | ||
Amazon.com Inc. | 3.950% | 4/13/52 | 12,723 | 10,611 | ||
Amazon.com Inc. | 4.250% | 8/22/57 | 9,734 | 8,420 | ||
Amazon.com Inc. | 2.700% | 6/3/60 | 3,566 | 2,194 | ||
Amazon.com Inc. | 3.250% | 5/12/61 | 4,909 | 3,405 | ||
Amazon.com Inc. | 4.100% | 4/13/62 | 6,736 | 5,583 | ||
1 | American University | 3.672% | 4/1/49 | 1,321 | 1,020 | |
Aptiv plc | 4.400% | 10/1/46 | 175 | 133 | ||
Aptiv plc | 5.400% | 3/15/49 | 1,468 | 1,287 | ||
Aptiv plc | 3.100% | 12/1/51 | 2,268 | 1,381 | ||
Aptiv plc | 4.150% | 5/1/52 | 4,135 | 3,071 | ||
BorgWarner Inc. | 4.375% | 3/15/45 | 1,303 | 1,029 | ||
1 | Brown University | 2.924% | 9/1/50 | 1,237 | 860 | |
Brunswick Corp. | 5.100% | 4/1/52 | 955 | 702 | ||
1 | California Endowment | 2.498% | 4/1/51 | 960 | 597 | |
California Institute of Technology | 4.321% | 8/1/45 | 787 | 695 | ||
California Institute of Technology | 4.700% | 11/1/11 | 913 | 759 | ||
California Institute of Technology | 3.650% | 9/1/19 | 1,814 | 1,172 | ||
1 | Case Western Reserve University | 5.405% | 6/1/22 | 1,005 | 947 | |
Claremont Mckenna College | 3.775% | 1/1/22 | 874 | 574 | ||
Cleveland Clinic Foundation | 4.858% | 1/1/14 | 1,130 | 990 | ||
Darden Restaurants Inc. | 4.550% | 2/15/48 | 724 | 589 | ||
Dick's Sporting Goods Inc. | 4.100% | 1/15/52 | 2,805 | 1,820 | ||
1 | Duke University | 2.682% | 10/1/44 | 816 | 580 | |
1 | Duke University | 2.757% | 10/1/50 | 1,050 | 703 | |
1 | Duke University | 2.832% | 10/1/55 | 2,459 | 1,624 | |
eBay Inc. | 4.000% | 7/15/42 | 2,466 | 1,929 | ||
eBay Inc. | 3.650% | 5/10/51 | 3,052 | 2,176 | ||
1 | Emory University | 2.969% | 9/1/50 | 1,385 | 951 | |
1 | Ford Foundation | 2.415% | 6/1/50 | 350 | 220 | |
1 | Ford Foundation | 2.815% | 6/1/70 | 3,948 | 2,369 | |
Fortune Brands Innovations Inc. | 4.500% | 3/25/52 | 1,405 | 1,081 | ||
General Motors Co. | 5.000% | 4/1/35 | 1,245 | 1,112 | ||
General Motors Co. | 6.600% | 4/1/36 | 3,915 | 3,941 | ||
General Motors Co. | 5.150% | 4/1/38 | 3,254 | 2,835 | ||
General Motors Co. | 6.250% | 10/2/43 | 5,500 | 5,170 | ||
General Motors Co. | 5.200% | 4/1/45 | 4,520 | 3,712 | ||
General Motors Co. | 6.750% | 4/1/46 | 3,063 | 3,020 | ||
General Motors Co. | 5.400% | 4/1/48 | 2,697 | 2,248 | ||
General Motors Co. | 5.950% | 4/1/49 | 3,030 | 2,714 | ||
1 | George Washington University | 4.300% | 9/15/44 | 385 | 333 | |
George Washington University | 4.868% | 9/15/45 | 1,667 | 1,555 | ||
1 | George Washington University | 4.126% | 9/15/48 | 2,212 | 1,874 | |
1 | Georgetown University | 4.315% | 4/1/49 | 1,367 | 1,168 | |
1 | Georgetown University | 2.943% | 4/1/50 | 617 | 407 | |
Georgetown University | 5.115% | 4/1/53 | 990 | 952 | ||
1 | Georgetown University | 5.215% | 10/1/18 | 1,029 | 919 | |
Harley-Davidson Inc. | 4.625% | 7/28/45 | 1,251 | 958 | ||
Hasbro Inc. | 6.350% | 3/15/40 | 2,475 | 2,499 | ||
Hasbro Inc. | 5.100% | 5/15/44 | 899 | 782 | ||
Home Depot Inc. | 5.875% | 12/16/36 | 9,022 | 9,679 | ||
Home Depot Inc. | 3.300% | 4/15/40 | 4,960 | 3,916 | ||
Home Depot Inc. | 5.400% | 9/15/40 | 2,171 | 2,183 | ||
Home Depot Inc. | 5.950% | 4/1/41 | 3,497 | 3,752 | ||
Home Depot Inc. | 4.200% | 4/1/43 | 3,037 | 2,654 | ||
Home Depot Inc. | 4.875% | 2/15/44 | 3,211 | 3,039 | ||
Home Depot Inc. | 4.400% | 3/15/45 | 4,474 | 3,916 | ||
Home Depot Inc. | 4.250% | 4/1/46 | 4,963 | 4,252 | ||
Home Depot Inc. | 3.900% | 6/15/47 | 4,258 | 3,457 | ||
Home Depot Inc. | 4.500% | 12/6/48 | 5,970 | 5,337 | ||
Home Depot Inc. | 3.125% | 12/15/49 | 1,989 | 1,393 | ||
Home Depot Inc. | 3.350% | 4/15/50 | 7,696 | 5,616 | ||
Home Depot Inc. | 2.375% | 3/15/51 | 1,215 | 721 | ||
Home Depot Inc. | 2.750% | 9/15/51 | 1,363 | 876 | ||
Home Depot Inc. | 3.625% | 4/15/52 | 8,664 | 6,593 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Home Depot Inc. | 4.950% | 9/15/52 | 5,390 | 5,147 | ||
Home Depot Inc. | 3.500% | 9/15/56 | 371 | 272 | ||
1 | Howard University | 5.209% | 10/1/52 | 901 | 774 | |
JD.com Inc. | 4.125% | 1/14/50 | 999 | 735 | ||
1 | Johns Hopkins University | 4.083% | 7/1/53 | 1,137 | 970 | |
1 | Johns Hopkins University | 2.813% | 1/1/60 | 1,500 | 954 | |
Lear Corp. | 5.250% | 5/15/49 | 2,090 | 1,818 | ||
Lear Corp. | 3.550% | 1/15/52 | 1,120 | 732 | ||
Leggett & Platt Inc. | 3.500% | 11/15/51 | 1,619 | 1,114 | ||
Leland Stanford Junior University | 3.647% | 5/1/48 | 2,137 | 1,750 | ||
Leland Stanford Junior University | 2.413% | 6/1/50 | 2,030 | 1,279 | ||
Lowe's Cos. Inc. | 5.500% | 10/15/35 | 1,220 | 1,227 | ||
Lowe's Cos. Inc. | 5.000% | 4/15/40 | 1,049 | 969 | ||
Lowe's Cos. Inc. | 2.800% | 9/15/41 | 3,565 | 2,446 | ||
Lowe's Cos. Inc. | 4.650% | 4/15/42 | 762 | 667 | ||
Lowe's Cos. Inc. | 4.250% | 9/15/44 | 347 | 268 | ||
Lowe's Cos. Inc. | 4.375% | 9/15/45 | 1,250 | 1,026 | ||
Lowe's Cos. Inc. | 3.700% | 4/15/46 | 2,915 | 2,180 | ||
Lowe's Cos. Inc. | 4.050% | 5/3/47 | 3,040 | 2,372 | ||
Lowe's Cos. Inc. | 4.550% | 4/5/49 | 2,750 | 2,307 | ||
Lowe's Cos. Inc. | 5.125% | 4/15/50 | 2,375 | 2,172 | ||
Lowe's Cos. Inc. | 3.000% | 10/15/50 | 2,095 | 1,326 | ||
Lowe's Cos. Inc. | 3.500% | 4/1/51 | 1,111 | 769 | ||
Lowe's Cos. Inc. | 4.250% | 4/1/52 | 6,726 | 5,306 | ||
Lowe's Cos. Inc. | 5.625% | 4/15/53 | 4,476 | 4,345 | ||
Lowe's Cos. Inc. | 5.750% | 7/1/53 | 2,090 | 2,067 | ||
Lowe's Cos. Inc. | 4.450% | 4/1/62 | 1,628 | 1,270 | ||
Lowe's Cos. Inc. | 5.800% | 9/15/62 | 6,091 | 5,883 | ||
Lowe's Cos. Inc. | 5.850% | 4/1/63 | 3,302 | 3,220 | ||
1 | Marriott International Inc. | 2.750% | 10/15/33 | 2,242 | 1,751 | |
Masco Corp. | 4.500% | 5/15/47 | 1,313 | 1,030 | ||
Masco Corp. | 3.125% | 2/15/51 | 934 | 577 | ||
1 | Massachusetts Institute of Technology | 3.959% | 7/1/38 | 1,584 | 1,410 | |
1 | Massachusetts Institute of Technology | 2.989% | 7/1/50 | 1,897 | 1,367 | |
1 | Massachusetts Institute of Technology | 2.294% | 7/1/51 | 1,219 | 740 | |
Massachusetts Institute of Technology | 3.067% | 4/1/52 | 2,730 | 1,970 | ||
Massachusetts Institute of Technology | 5.600% | 7/1/11 | 2,776 | 2,979 | ||
Massachusetts Institute of Technology | 4.678% | 7/1/14 | 1,123 | 1,012 | ||
Massachusetts Institute of Technology | 3.885% | 7/1/16 | 1,695 | 1,265 | ||
1 | McDonald's Corp. | 4.700% | 12/9/35 | 2,439 | 2,329 | |
1 | McDonald's Corp. | 6.300% | 10/15/37 | 2,416 | 2,624 | |
1 | McDonald's Corp. | 6.300% | 3/1/38 | 1,783 | 1,943 | |
1 | McDonald's Corp. | 5.700% | 2/1/39 | 1,856 | 1,885 | |
1 | McDonald's Corp. | 4.875% | 7/15/40 | 907 | 841 | |
1 | McDonald's Corp. | 3.700% | 2/15/42 | 1,607 | 1,273 | |
1 | McDonald's Corp. | 3.625% | 5/1/43 | 668 | 521 | |
1 | McDonald's Corp. | 4.600% | 5/26/45 | 2,148 | 1,900 | |
1 | McDonald's Corp. | 4.875% | 12/9/45 | 6,254 | 5,768 | |
1 | McDonald's Corp. | 4.450% | 3/1/47 | 4,307 | 3,726 | |
1 | McDonald's Corp. | 4.450% | 9/1/48 | 1,746 | 1,518 | |
1 | McDonald's Corp. | 3.625% | 9/1/49 | 6,139 | 4,633 | |
1 | McDonald's Corp. | 4.200% | 4/1/50 | 1,923 | 1,596 | |
1 | McDonald's Corp. | 5.150% | 9/9/52 | 3,574 | 3,421 | |
McDonald's Corp. | 5.450% | 8/14/53 | 2,700 | 2,700 | ||
MDC Holdings Inc. | 6.000% | 1/15/43 | 2,314 | 2,024 | ||
NIKE Inc. | 3.250% | 3/27/40 | 3,228 | 2,605 | ||
NIKE Inc. | 3.625% | 5/1/43 | 855 | 712 | ||
NIKE Inc. | 3.875% | 11/1/45 | 2,638 | 2,253 | ||
NIKE Inc. | 3.375% | 11/1/46 | 1,995 | 1,543 | ||
NIKE Inc. | 3.375% | 3/27/50 | 5,825 | 4,497 | ||
1 | Northeastern University | 2.894% | 10/1/50 | 740 | 489 | |
1 | Northwestern University | 4.643% | 12/1/44 | 1,705 | 1,607 | |
1 | Northwestern University | 2.640% | 12/1/50 | 1,335 | 874 | |
1 | Northwestern University | 3.662% | 12/1/57 | 1,055 | 824 | |
Owens Corning | 7.000% | 12/1/36 | 1,262 | 1,387 | ||
Owens Corning | 4.300% | 7/15/47 | 2,019 | 1,622 | ||
Owens Corning | 4.400% | 1/30/48 | 1,783 | 1,447 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
President & Fellows of Harvard College | 4.875% | 10/15/40 | 466 | 459 | ||
President & Fellows of Harvard College | 3.150% | 7/15/46 | 2,040 | 1,510 | ||
President & Fellows of Harvard College | 2.517% | 10/15/50 | 1,245 | 807 | ||
President & Fellows of Harvard College | 3.745% | 11/15/52 | 1,472 | 1,204 | ||
President & Fellows of Harvard College | 3.300% | 7/15/56 | 1,936 | 1,396 | ||
PulteGroup Inc. | 6.000% | 2/15/35 | 1,190 | 1,196 | ||
1 | Rockefeller Foundation | 2.492% | 10/1/50 | 2,633 | 1,650 | |
Snap-on Inc. | 4.100% | 3/1/48 | 498 | 419 | ||
Snap-on Inc. | 3.100% | 5/1/50 | 1,950 | 1,377 | ||
Stanley Black & Decker Inc. | 5.200% | 9/1/40 | 759 | 692 | ||
Stanley Black & Decker Inc. | 4.850% | 11/15/48 | 828 | 703 | ||
Stanley Black & Decker Inc. | 2.750% | 11/15/50 | 3,946 | 2,297 | ||
Starbucks Corp. | 4.300% | 6/15/45 | 1,937 | 1,620 | ||
Starbucks Corp. | 3.750% | 12/1/47 | 2,372 | 1,802 | ||
Starbucks Corp. | 4.500% | 11/15/48 | 3,492 | 2,993 | ||
Starbucks Corp. | 4.450% | 8/15/49 | 3,477 | 2,951 | ||
Starbucks Corp. | 3.350% | 3/12/50 | 1,648 | 1,158 | ||
Starbucks Corp. | 3.500% | 11/15/50 | 3,503 | 2,535 | ||
Thomas Jefferson University | 3.847% | 11/1/57 | 1,798 | 1,263 | ||
TJX Cos. Inc. | 4.500% | 4/15/50 | 988 | 889 | ||
1 | Trustees of Boston College | 3.129% | 7/1/52 | 787 | 556 | |
1 | Trustees of Boston University | 4.061% | 10/1/48 | 1,118 | 941 | |
Trustees of Princeton University | 5.700% | 3/1/39 | 1,405 | 1,510 | ||
1 | Trustees of Princeton University | 2.516% | 7/1/50 | 1,264 | 829 | |
Trustees of Princeton University | 4.201% | 3/1/52 | 599 | 532 | ||
1 | Trustees of the University of Pennsylvania | 2.396% | 10/1/50 | 1,368 | 844 | |
Trustees of the University of Pennsylvania | 4.674% | 9/1/12 | 549 | 468 | ||
Trustees of the University of Pennsylvania | 3.610% | 2/15/19 | 1,166 | 809 | ||
1 | University of Chicago | 2.761% | 4/1/45 | 1,050 | 787 | |
1 | University of Chicago | 2.547% | 4/1/50 | 1,905 | 1,263 | |
University of Chicago | 3.000% | 10/1/52 | 1,134 | 790 | ||
1 | University of Chicago | 4.003% | 10/1/53 | 718 | 596 | |
1 | University of Miami | 4.063% | 4/1/52 | 1,598 | 1,313 | |
1 | University of Notre Dame du Lac | 3.438% | 2/15/45 | 1,078 | 847 | |
1 | University of Notre Dame du Lac | 3.394% | 2/15/48 | 2,653 | 2,075 | |
1 | University of Southern California | 3.028% | 10/1/39 | 2,955 | 2,360 | |
1 | University of Southern California | 3.841% | 10/1/47 | 578 | 479 | |
University of Southern California | 2.805% | 10/1/50 | 1,199 | 793 | ||
1 | University of Southern California | 2.945% | 10/1/51 | 1,768 | 1,204 | |
University of Southern California | 4.976% | 10/1/53 | 1,315 | 1,288 | ||
University of Southern California | 5.250% | 10/1/11 | 994 | 949 | ||
1 | University of Southern California | 3.226% | 10/1/20 | 1,175 | 693 | |
1 | Washington University | 3.524% | 4/15/54 | 1,845 | 1,429 | |
Washington University | 4.349% | 4/15/22 | 1,465 | 1,186 | ||
Whirlpool Corp. | 4.500% | 6/1/46 | 1,178 | 953 | ||
Whirlpool Corp. | 4.600% | 5/15/50 | 2,435 | 1,994 | ||
1 | William Marsh Rice University | 3.574% | 5/15/45 | 1,545 | 1,235 | |
1 | William Marsh Rice University | 3.774% | 5/15/55 | 938 | 756 | |
1 | Yale University | 2.402% | 4/15/50 | 2,584 | 1,631 | |
400,554 | ||||||
Consumer Staples (7.6%) | ||||||
Altria Group Inc. | 5.800% | 2/14/39 | 4,649 | 4,518 | ||
Altria Group Inc. | 3.400% | 2/4/41 | 2,295 | 1,562 | ||
Altria Group Inc. | 4.250% | 8/9/42 | 1,252 | 947 | ||
Altria Group Inc. | 4.500% | 5/2/43 | 5,151 | 4,019 | ||
Altria Group Inc. | 5.375% | 1/31/44 | 3,577 | 3,327 | ||
Altria Group Inc. | 3.875% | 9/16/46 | 5,504 | 3,786 | ||
Altria Group Inc. | 5.950% | 2/14/49 | 8,878 | 8,256 | ||
Altria Group Inc. | 4.450% | 5/6/50 | 3,162 | 2,340 | ||
Altria Group Inc. | 3.700% | 2/4/51 | 4,988 | 3,252 | ||
Altria Group Inc. | 6.200% | 2/14/59 | 360 | 364 | ||
Altria Group Inc. | 4.000% | 2/4/61 | 3,650 | 2,471 | ||
1 | Anheuser-Busch Cos. LLC | 4.700% | 2/1/36 | 18,033 | 17,258 | |
1 | Anheuser-Busch Cos. LLC | 4.900% | 2/1/46 | 32,331 | 30,050 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Anheuser-Busch InBev Finance Inc. | 4.700% | 2/1/36 | 3,517 | 3,373 | ||
Anheuser-Busch InBev Finance Inc. | 4.625% | 2/1/44 | 3,571 | 3,243 | ||
Anheuser-Busch InBev Finance Inc. | 4.900% | 2/1/46 | 5,735 | 5,309 | ||
Anheuser-Busch InBev Worldwide Inc. | 5.875% | 6/15/35 | 1,030 | 1,091 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.375% | 4/15/38 | 6,664 | 6,089 | ||
Anheuser-Busch InBev Worldwide Inc. | 8.200% | 1/15/39 | 3,665 | 4,686 | ||
Anheuser-Busch InBev Worldwide Inc. | 5.450% | 1/23/39 | 5,321 | 5,399 | ||
Anheuser-Busch InBev Worldwide Inc. | 8.000% | 11/15/39 | 2,871 | 3,558 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.350% | 6/1/40 | 4,344 | 3,886 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.950% | 1/15/42 | 2,551 | 2,431 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.600% | 4/15/48 | 9,168 | 8,251 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.439% | 10/6/48 | 3,179 | 2,781 | ||
Anheuser-Busch InBev Worldwide Inc. | 5.550% | 1/23/49 | 14,197 | 14,537 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.500% | 6/1/50 | 5,592 | 4,978 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.750% | 4/15/58 | 4,646 | 4,157 | ||
Anheuser-Busch InBev Worldwide Inc. | 5.800% | 1/23/59 | 5,468 | 5,733 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.600% | 6/1/60 | 387 | 337 | ||
Archer-Daniels-Midland Co. | 5.935% | 10/1/32 | 440 | 469 | ||
Archer-Daniels-Midland Co. | 4.500% | 8/15/33 | 1,480 | 1,430 | ||
Archer-Daniels-Midland Co. | 5.375% | 9/15/35 | 1,103 | 1,123 | ||
Archer-Daniels-Midland Co. | 3.750% | 9/15/47 | 827 | 659 | ||
Archer-Daniels-Midland Co. | 4.500% | 3/15/49 | 3,473 | 3,112 | ||
Archer-Daniels-Midland Co. | 2.700% | 9/15/51 | 1,522 | 981 | ||
BAT Capital Corp. | 4.390% | 8/15/37 | 7,988 | 6,314 | ||
BAT Capital Corp. | 3.734% | 9/25/40 | 2,548 | 1,775 | ||
BAT Capital Corp. | 7.079% | 8/2/43 | 2,500 | 2,486 | ||
BAT Capital Corp. | 4.540% | 8/15/47 | 7,340 | 5,336 | ||
BAT Capital Corp. | 4.758% | 9/6/49 | 3,612 | 2,676 | ||
BAT Capital Corp. | 5.282% | 4/2/50 | 4,010 | 3,212 | ||
BAT Capital Corp. | 3.984% | 9/25/50 | 3,264 | 2,156 | ||
BAT Capital Corp. | 5.650% | 3/16/52 | 1,661 | 1,388 | ||
BAT Capital Corp. | 7.081% | 8/2/53 | 3,300 | 3,247 | ||
Brown-Forman Corp. | 4.000% | 4/15/38 | 963 | 831 | ||
Brown-Forman Corp. | 4.500% | 7/15/45 | 1,001 | 897 | ||
Campbell Soup Co. | 4.800% | 3/15/48 | 3,284 | 2,839 | ||
Campbell Soup Co. | 3.125% | 4/24/50 | 2,629 | 1,721 | ||
Church & Dwight Co. Inc. | 3.950% | 8/1/47 | 1,373 | 1,114 | ||
Church & Dwight Co. Inc. | 5.000% | 6/15/52 | 1,690 | 1,597 | ||
Coca-Cola Co. | 2.500% | 6/1/40 | 3,801 | 2,741 | ||
Coca-Cola Co. | 2.875% | 5/5/41 | 2,931 | 2,214 | ||
Coca-Cola Co. | 4.200% | 3/25/50 | 2,368 | 2,128 | ||
Coca-Cola Co. | 2.600% | 6/1/50 | 4,552 | 3,017 | ||
Coca-Cola Co. | 3.000% | 3/5/51 | 4,785 | 3,451 | ||
Coca-Cola Co. | 2.500% | 3/15/51 | 4,205 | 2,715 | ||
Coca-Cola Co. | 2.750% | 6/1/60 | 3,400 | 2,206 | ||
Coca-Cola Femsa SAB de CV | 5.250% | 11/26/43 | 1,435 | 1,387 | ||
1 | Colgate-Palmolive Co. | 4.000% | 8/15/45 | 3,304 | 2,916 | |
1 | Colgate-Palmolive Co. | 3.700% | 8/1/47 | 2,902 | 2,433 | |
Conagra Brands Inc. | 5.300% | 11/1/38 | 4,831 | 4,459 | ||
Conagra Brands Inc. | 5.400% | 11/1/48 | 2,524 | 2,289 | ||
Constellation Brands Inc. | 4.500% | 5/9/47 | 902 | 755 | ||
Constellation Brands Inc. | 4.100% | 2/15/48 | 3,168 | 2,515 | ||
Constellation Brands Inc. | 5.250% | 11/15/48 | 3,189 | 2,975 | ||
Constellation Brands Inc. | 3.750% | 5/1/50 | 740 | 560 | ||
Delhaize America LLC | 9.000% | 4/15/31 | 110 | 129 | ||
Diageo Capital plc | 5.875% | 9/30/36 | 1,519 | 1,604 | ||
Diageo Capital plc | 3.875% | 4/29/43 | 2,056 | 1,693 | ||
Diageo Investment Corp. | 7.450% | 4/15/35 | 2,659 | 3,180 | ||
Diageo Investment Corp. | 4.250% | 5/11/42 | 787 | 689 | ||
Dollar General Corp. | 4.125% | 4/3/50 | 3,342 | 2,470 | ||
Dollar Tree Inc. | 3.375% | 12/1/51 | 1,575 | 1,019 | ||
Estee Lauder Cos. Inc. | 6.000% | 5/15/37 | 1,177 | 1,251 | ||
Estee Lauder Cos. Inc. | 4.375% | 6/15/45 | 2,295 | 1,969 | ||
Estee Lauder Cos. Inc. | 4.150% | 3/15/47 | 1,072 | 902 | ||
Estee Lauder Cos. Inc. | 3.125% | 12/1/49 | 2,803 | 1,942 | ||
Estee Lauder Cos. Inc. | 5.150% | 5/15/53 | 2,425 | 2,349 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Fomento Economico Mexicano SAB de CV | 3.500% | 1/16/50 | 6,459 | 4,709 | ||
General Mills Inc. | 5.400% | 6/15/40 | 1,368 | 1,331 | ||
General Mills Inc. | 4.700% | 4/17/48 | 500 | 449 | ||
General Mills Inc. | 3.000% | 2/1/51 | 3,286 | 2,206 | ||
Haleon US Capital LLC | 4.000% | 3/24/52 | 3,445 | 2,758 | ||
Hershey Co. | 3.375% | 8/15/46 | 2,053 | 1,512 | ||
Hershey Co. | 3.125% | 11/15/49 | 1,952 | 1,387 | ||
Hormel Foods Corp. | 3.050% | 6/3/51 | 1,367 | 939 | ||
Ingredion Inc. | 3.900% | 6/1/50 | 1,206 | 860 | ||
J M Smucker Co. | 4.250% | 3/15/35 | 2,976 | 2,663 | ||
J M Smucker Co. | 2.750% | 9/15/41 | 695 | 471 | ||
J M Smucker Co. | 3.550% | 3/15/50 | 575 | 403 | ||
JBS USA LUX SA | 4.375% | 2/2/52 | 3,770 | 2,658 | ||
JBS USA LUX SA | 6.500% | 12/1/52 | 3,865 | 3,675 | ||
Kellogg Co. | 4.500% | 4/1/46 | 1,691 | 1,453 | ||
2 | Kenvue Inc. | 5.100% | 3/22/43 | 2,410 | 2,361 | |
2 | Kenvue Inc. | 5.050% | 3/22/53 | 5,130 | 5,020 | |
2 | Kenvue Inc. | 5.200% | 3/22/63 | 2,650 | 2,594 | |
Keurig Dr Pepper Inc. | 4.500% | 11/15/45 | 2,692 | 2,294 | ||
Keurig Dr Pepper Inc. | 4.420% | 12/15/46 | 2,604 | 2,161 | ||
Keurig Dr Pepper Inc. | 3.800% | 5/1/50 | 3,072 | 2,326 | ||
Keurig Dr Pepper Inc. | 3.350% | 3/15/51 | 2,672 | 1,833 | ||
Keurig Dr Pepper Inc. | 4.500% | 4/15/52 | 2,249 | 1,911 | ||
Kimberly-Clark Corp. | 6.625% | 8/1/37 | 3,271 | 3,759 | ||
Kimberly-Clark Corp. | 5.300% | 3/1/41 | 827 | 837 | ||
Kimberly-Clark Corp. | 3.200% | 7/30/46 | 1,230 | 895 | ||
Kimberly-Clark Corp. | 3.900% | 5/4/47 | 1,060 | 874 | ||
Kimberly-Clark Corp. | 2.875% | 2/7/50 | 589 | 408 | ||
Koninklijke Ahold Delhaize NV | 5.700% | 10/1/40 | 1,173 | 1,158 | ||
Kraft Heinz Foods Co. | 5.000% | 7/15/35 | 3,070 | 2,981 | ||
Kraft Heinz Foods Co. | 6.875% | 1/26/39 | 2,708 | 2,966 | ||
Kraft Heinz Foods Co. | 6.500% | 2/9/40 | 2,840 | 3,002 | ||
Kraft Heinz Foods Co. | 5.000% | 6/4/42 | 4,848 | 4,412 | ||
Kraft Heinz Foods Co. | 5.200% | 7/15/45 | 5,567 | 5,119 | ||
Kraft Heinz Foods Co. | 4.375% | 6/1/46 | 9,671 | 7,999 | ||
Kraft Heinz Foods Co. | 4.875% | 10/1/49 | 5,633 | 4,979 | ||
Kraft Heinz Foods Co. | 5.500% | 6/1/50 | 2,616 | 2,524 | ||
Kroger Co. | 6.900% | 4/15/38 | 1,443 | 1,579 | ||
Kroger Co. | 5.400% | 7/15/40 | 1,473 | 1,384 | ||
Kroger Co. | 5.000% | 4/15/42 | 1,233 | 1,094 | ||
Kroger Co. | 5.150% | 8/1/43 | 3,011 | 2,710 | ||
Kroger Co. | 3.875% | 10/15/46 | 785 | 587 | ||
Kroger Co. | 4.450% | 2/1/47 | 4,753 | 3,957 | ||
Kroger Co. | 4.650% | 1/15/48 | 2,119 | 1,805 | ||
Kroger Co. | 3.950% | 1/15/50 | 2,382 | 1,840 | ||
McCormick & Co. Inc. | 4.200% | 8/15/47 | 800 | 642 | ||
Mead Johnson Nutrition Co. | 5.900% | 11/1/39 | 1,885 | 1,930 | ||
Molson Coors Beverage Co. | 5.000% | 5/1/42 | 5,223 | 4,718 | ||
Molson Coors Beverage Co. | 4.200% | 7/15/46 | 4,703 | 3,724 | ||
Mondelez International Inc. | 2.625% | 9/4/50 | 3,650 | 2,280 | ||
PepsiCo Inc. | 3.500% | 3/19/40 | 769 | 631 | ||
PepsiCo Inc. | 2.625% | 10/21/41 | 5,301 | 3,845 | ||
PepsiCo Inc. | 4.000% | 3/5/42 | 1,718 | 1,489 | ||
PepsiCo Inc. | 3.600% | 8/13/42 | 1,205 | 1,004 | ||
PepsiCo Inc. | 4.250% | 10/22/44 | 1,203 | 1,045 | ||
PepsiCo Inc. | 4.450% | 4/14/46 | 4,534 | 4,221 | ||
PepsiCo Inc. | 3.450% | 10/6/46 | 3,548 | 2,820 | ||
PepsiCo Inc. | 4.000% | 5/2/47 | 2,105 | 1,856 | ||
PepsiCo Inc. | 3.375% | 7/29/49 | 3,195 | 2,464 | ||
PepsiCo Inc. | 2.875% | 10/15/49 | 3,579 | 2,533 | ||
PepsiCo Inc. | 3.625% | 3/19/50 | 4,560 | 3,669 | ||
PepsiCo Inc. | 2.750% | 10/21/51 | 2,673 | 1,806 | ||
PepsiCo Inc. | 4.200% | 7/18/52 | 2,586 | 2,298 | ||
PepsiCo Inc. | 4.650% | 2/15/53 | 668 | 639 | ||
PepsiCo Inc. | 3.875% | 3/19/60 | 1,625 | 1,331 | ||
Philip Morris International Inc. | 6.375% | 5/16/38 | 6,364 | 6,837 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Philip Morris International Inc. | 4.375% | 11/15/41 | 847 | 701 | ||
Philip Morris International Inc. | 4.500% | 3/20/42 | 2,193 | 1,860 | ||
Philip Morris International Inc. | 3.875% | 8/21/42 | 2,050 | 1,600 | ||
Philip Morris International Inc. | 4.125% | 3/4/43 | 4,366 | 3,471 | ||
Philip Morris International Inc. | 4.875% | 11/15/43 | 4,179 | 3,672 | ||
Philip Morris International Inc. | 4.250% | 11/10/44 | 1,565 | 1,266 | ||
Procter & Gamble Co. | 5.800% | 8/15/34 | 799 | 884 | ||
Procter & Gamble Co. | 5.550% | 3/5/37 | 2,225 | 2,406 | ||
Procter & Gamble Co. | 3.550% | 3/25/40 | 1,440 | 1,236 | ||
Procter & Gamble Co. | 3.500% | 10/25/47 | 553 | 446 | ||
Procter & Gamble Co. | 3.600% | 3/25/50 | 2,165 | 1,775 | ||
Reynolds American Inc. | 5.700% | 8/15/35 | 3,698 | 3,414 | ||
Reynolds American Inc. | 7.250% | 6/15/37 | 2,010 | 2,105 | ||
Reynolds American Inc. | 6.150% | 9/15/43 | 1,356 | 1,241 | ||
Reynolds American Inc. | 5.850% | 8/15/45 | 5,777 | 5,010 | ||
Sysco Corp. | 5.375% | 9/21/35 | 571 | 565 | ||
Sysco Corp. | 6.600% | 4/1/40 | 1,725 | 1,828 | ||
Sysco Corp. | 4.850% | 10/1/45 | 1,189 | 1,021 | ||
Sysco Corp. | 4.500% | 4/1/46 | 1,046 | 870 | ||
Sysco Corp. | 4.450% | 3/15/48 | 2,095 | 1,730 | ||
Sysco Corp. | 3.300% | 2/15/50 | 478 | 328 | ||
Sysco Corp. | 6.600% | 4/1/50 | 3,330 | 3,658 | ||
Sysco Corp. | 3.150% | 12/14/51 | 4,280 | 2,838 | ||
Target Corp. | 6.500% | 10/15/37 | 804 | 894 | ||
Target Corp. | 7.000% | 1/15/38 | 2,014 | 2,337 | ||
Target Corp. | 4.000% | 7/1/42 | 2,125 | 1,848 | ||
Target Corp. | 3.625% | 4/15/46 | 2,251 | 1,765 | ||
Target Corp. | 3.900% | 11/15/47 | 457 | 374 | ||
Target Corp. | 2.950% | 1/15/52 | 4,168 | 2,776 | ||
Target Corp. | 4.800% | 1/15/53 | 4,110 | 3,774 | ||
Tyson Foods Inc. | 4.875% | 8/15/34 | 1,353 | 1,285 | ||
Tyson Foods Inc. | 5.150% | 8/15/44 | 1,110 | 988 | ||
Tyson Foods Inc. | 4.550% | 6/2/47 | 1,640 | 1,310 | ||
Tyson Foods Inc. | 5.100% | 9/28/48 | 5,760 | 4,991 | ||
1 | Unilever Capital Corp. | 2.625% | 8/12/51 | 955 | 630 | |
Walgreens Boots Alliance Inc. | 4.800% | 11/18/44 | 2,119 | 1,654 | ||
Walgreens Boots Alliance Inc. | 4.100% | 4/15/50 | 3,167 | 2,160 | ||
Walmart Inc. | 5.250% | 9/1/35 | 4,541 | 4,746 | ||
Walmart Inc. | 6.200% | 4/15/38 | 2,779 | 3,159 | ||
Walmart Inc. | 3.950% | 6/28/38 | 1,245 | 1,118 | ||
Walmart Inc. | 5.625% | 4/1/40 | 3,241 | 3,498 | ||
Walmart Inc. | 5.000% | 10/25/40 | 1,888 | 1,909 | ||
Walmart Inc. | 5.625% | 4/15/41 | 1,736 | 1,857 | ||
Walmart Inc. | 2.500% | 9/22/41 | 4,118 | 2,938 | ||
Walmart Inc. | 4.000% | 4/11/43 | 2,727 | 2,385 | ||
Walmart Inc. | 3.625% | 12/15/47 | 927 | 749 | ||
Walmart Inc. | 4.050% | 6/29/48 | 4,902 | 4,302 | ||
Walmart Inc. | 2.950% | 9/24/49 | 1,958 | 1,388 | ||
Walmart Inc. | 2.650% | 9/22/51 | 1,427 | 960 | ||
Walmart Inc. | 4.500% | 9/9/52 | 5,720 | 5,317 | ||
Walmart Inc. | 4.500% | 4/15/53 | 6,579 | 6,122 | ||
533,094 | ||||||
Energy (9.0%) | ||||||
Apache Corp. | 6.000% | 1/15/37 | 1,485 | 1,390 | ||
Apache Corp. | 5.100% | 9/1/40 | 4,702 | 3,922 | ||
Apache Corp. | 5.250% | 2/1/42 | 1,065 | 875 | ||
Apache Corp. | 4.750% | 4/15/43 | 1,425 | 1,089 | ||
Apache Corp. | 5.350% | 7/1/49 | 1,359 | 1,092 | ||
Baker Hughes Holdings LLC | 5.125% | 9/15/40 | 3,959 | 3,743 | ||
Baker Hughes Holdings LLC | 4.080% | 12/15/47 | 3,746 | 2,979 | ||
BP Capital Markets America Inc. | 4.893% | 9/11/33 | 3,993 | 3,887 | ||
BP Capital Markets America Inc. | 3.060% | 6/17/41 | 4,776 | 3,496 | ||
BP Capital Markets America Inc. | 3.000% | 2/24/50 | 9,814 | 6,534 | ||
BP Capital Markets America Inc. | 2.772% | 11/10/50 | 6,314 | 3,982 | ||
BP Capital Markets America Inc. | 2.939% | 6/4/51 | 8,463 | 5,532 | ||
BP Capital Markets America Inc. | 3.001% | 3/17/52 | 5,792 | 3,803 | ||
BP Capital Markets America Inc. | 3.379% | 2/8/61 | 5,924 | 3,981 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Canadian Natural Resources Ltd. | 5.850% | 2/1/35 | 789 | 767 | ||
Canadian Natural Resources Ltd. | 6.500% | 2/15/37 | 1,584 | 1,604 | ||
Canadian Natural Resources Ltd. | 6.250% | 3/15/38 | 3,285 | 3,312 | ||
Canadian Natural Resources Ltd. | 6.750% | 2/1/39 | 1,515 | 1,557 | ||
1 | Canadian Natural Resources Ltd. | 4.950% | 6/1/47 | 2,884 | 2,504 | |
Cenovus Energy Inc. | 5.250% | 6/15/37 | 1,643 | 1,505 | ||
Cenovus Energy Inc. | 6.800% | 9/15/37 | 2,233 | 2,302 | ||
Cenovus Energy Inc. | 6.750% | 11/15/39 | 1,696 | 1,759 | ||
Cenovus Energy Inc. | 5.400% | 6/15/47 | 3,380 | 3,037 | ||
Cenovus Energy Inc. | 3.750% | 2/15/52 | 2,671 | 1,873 | ||
Cheniere Corpus Christi Holdings LLC | 2.742% | 12/31/39 | 1,409 | 1,091 | ||
Chevron Corp. | 3.078% | 5/11/50 | 4,745 | 3,370 | ||
Chevron USA Inc. | 5.250% | 11/15/43 | 1,134 | 1,116 | ||
Chevron USA Inc. | 2.343% | 8/12/50 | 2,697 | 1,638 | ||
Columbia Pipeline Group Inc. | 5.800% | 6/1/45 | 1,868 | 1,730 | ||
ConocoPhillips | 5.900% | 5/15/38 | 2,486 | 2,592 | ||
ConocoPhillips | 6.500% | 2/1/39 | 3,669 | 4,087 | ||
ConocoPhillips | 4.875% | 10/1/47 | 907 | 831 | ||
ConocoPhillips Co. | 5.050% | 9/15/33 | 3,200 | 3,181 | ||
ConocoPhillips Co. | 3.758% | 3/15/42 | 4,541 | 3,679 | ||
ConocoPhillips Co. | 4.300% | 11/15/44 | 3,606 | 3,092 | ||
ConocoPhillips Co. | 3.800% | 3/15/52 | 5,340 | 4,116 | ||
ConocoPhillips Co. | 5.300% | 5/15/53 | 2,425 | 2,369 | ||
ConocoPhillips Co. | 5.550% | 3/15/54 | 3,200 | 3,209 | ||
ConocoPhillips Co. | 4.025% | 3/15/62 | 7,035 | 5,385 | ||
ConocoPhillips Co. | 5.700% | 9/15/63 | 1,250 | 1,259 | ||
Continental Resources Inc. | 4.900% | 6/1/44 | 1,874 | 1,437 | ||
DCP Midstream Operating LP | 5.600% | 4/1/44 | 1,345 | 1,249 | ||
Devon Energy Corp. | 5.600% | 7/15/41 | 3,499 | 3,246 | ||
Devon Energy Corp. | 4.750% | 5/15/42 | 1,857 | 1,549 | ||
Devon Energy Corp. | 5.000% | 6/15/45 | 2,305 | 1,974 | ||
Diamondback Energy Inc. | 4.400% | 3/24/51 | 2,126 | 1,651 | ||
Diamondback Energy Inc. | 4.250% | 3/15/52 | 3,025 | 2,271 | ||
Diamondback Energy Inc. | 6.250% | 3/15/53 | 2,189 | 2,182 | ||
1 | Eastern Gas Transmission & Storage Inc. | 4.800% | 11/1/43 | 958 | 812 | |
1 | Eastern Gas Transmission & Storage Inc. | 4.600% | 12/15/44 | 650 | 533 | |
1 | Eastern Gas Transmission & Storage Inc. | 3.900% | 11/15/49 | 825 | 578 | |
1 | Enbridge Energy Partners LP | 7.500% | 4/15/38 | 2,106 | 2,323 | |
Enbridge Energy Partners LP | 5.500% | 9/15/40 | 2,233 | 2,078 | ||
Enbridge Energy Partners LP | 7.375% | 10/15/45 | 1,921 | 2,169 | ||
Enbridge Inc. | 4.500% | 6/10/44 | 1,156 | 944 | ||
Enbridge Inc. | 5.500% | 12/1/46 | 2,497 | 2,318 | ||
Enbridge Inc. | 4.000% | 11/15/49 | 1,595 | 1,196 | ||
Enbridge Inc. | 3.400% | 8/1/51 | 3,241 | 2,177 | ||
Energy Transfer LP | 4.900% | 3/15/35 | 1,252 | 1,143 | ||
Energy Transfer LP | 6.625% | 10/15/36 | 2,963 | 3,030 | ||
1 | Energy Transfer LP | 5.800% | 6/15/38 | 282 | 267 | |
Energy Transfer LP | 7.500% | 7/1/38 | 1,064 | 1,156 | ||
Energy Transfer LP | 6.050% | 6/1/41 | 2,034 | 1,916 | ||
Energy Transfer LP | 6.500% | 2/1/42 | 4,450 | 4,428 | ||
Energy Transfer LP | 6.100% | 2/15/42 | 1,004 | 940 | ||
Energy Transfer LP | 4.950% | 1/15/43 | 1,913 | 1,563 | ||
Energy Transfer LP | 5.150% | 2/1/43 | 4,325 | 3,635 | ||
Energy Transfer LP | 5.950% | 10/1/43 | 3,258 | 2,979 | ||
Energy Transfer LP | 5.300% | 4/1/44 | 1,612 | 1,370 | ||
Energy Transfer LP | 5.000% | 5/15/44 | 839 | 685 | ||
Energy Transfer LP | 5.150% | 3/15/45 | 4,889 | 4,116 | ||
Energy Transfer LP | 5.350% | 5/15/45 | 2,944 | 2,516 | ||
Energy Transfer LP | 6.125% | 12/15/45 | 6,470 | 6,070 | ||
Energy Transfer LP | 5.300% | 4/15/47 | 2,648 | 2,245 | ||
Energy Transfer LP | 5.400% | 10/1/47 | 2,967 | 2,555 | ||
Energy Transfer LP | 6.000% | 6/15/48 | 3,255 | 3,006 | ||
Energy Transfer LP | 6.250% | 4/15/49 | 4,333 | 4,142 | ||
Energy Transfer LP | 5.000% | 5/15/50 | 3,839 | 3,159 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Enterprise Products Operating LLC | 6.650% | 10/15/34 | 817 | 884 | |
Enterprise Products Operating LLC | 7.550% | 4/15/38 | 1,116 | 1,280 | ||
Enterprise Products Operating LLC | 6.125% | 10/15/39 | 3,616 | 3,758 | ||
Enterprise Products Operating LLC | 6.450% | 9/1/40 | 1,205 | 1,280 | ||
Enterprise Products Operating LLC | 5.950% | 2/1/41 | 3,563 | 3,640 | ||
Enterprise Products Operating LLC | 5.700% | 2/15/42 | 770 | 758 | ||
Enterprise Products Operating LLC | 4.850% | 8/15/42 | 3,506 | 3,147 | ||
Enterprise Products Operating LLC | 4.450% | 2/15/43 | 4,230 | 3,594 | ||
Enterprise Products Operating LLC | 4.850% | 3/15/44 | ���4,192 | 3,741 | ||
Enterprise Products Operating LLC | 5.100% | 2/15/45 | 5,654 | 5,183 | ||
Enterprise Products Operating LLC | 4.250% | 2/15/48 | 1,127 | 918 | ||
Enterprise Products Operating LLC | 4.800% | 2/1/49 | 7,191 | 6,318 | ||
Enterprise Products Operating LLC | 4.200% | 1/31/50 | 6,720 | 5,378 | ||
Enterprise Products Operating LLC | 3.700% | 1/31/51 | 2,354 | 1,723 | ||
Enterprise Products Operating LLC | 3.200% | 2/15/52 | 2,066 | 1,397 | ||
Enterprise Products Operating LLC | 3.300% | 2/15/53 | 4,032 | 2,759 | ||
Enterprise Products Operating LLC | 4.950% | 10/15/54 | 3,169 | 2,807 | ||
Enterprise Products Operating LLC | 3.950% | 1/31/60 | 419 | 310 | ||
EOG Resources Inc. | 3.900% | 4/1/35 | 2,237 | 1,977 | ||
EOG Resources Inc. | 4.950% | 4/15/50 | 2,397 | 2,268 | ||
Exxon Mobil Corp. | 2.995% | 8/16/39 | 2,198 | 1,692 | ||
Exxon Mobil Corp. | 4.227% | 3/19/40 | 5,612 | 5,015 | ||
Exxon Mobil Corp. | 3.567% | 3/6/45 | 4,583 | 3,572 | ||
Exxon Mobil Corp. | 4.114% | 3/1/46 | 6,942 | 5,894 | ||
Exxon Mobil Corp. | 3.095% | 8/16/49 | 3,778 | 2,652 | ||
Exxon Mobil Corp. | 4.327% | 3/19/50 | 11,457 | 9,918 | ||
Exxon Mobil Corp. | 3.452% | 4/15/51 | 8,657 | 6,439 | ||
Halliburton Co. | 4.850% | 11/15/35 | 5,364 | 5,025 | ||
Halliburton Co. | 6.700% | 9/15/38 | 1,815 | 1,996 | ||
Halliburton Co. | 7.450% | 9/15/39 | 1,166 | 1,361 | ||
Halliburton Co. | 4.500% | 11/15/41 | 2,469 | 2,079 | ||
Halliburton Co. | 4.750% | 8/1/43 | 3,220 | 2,783 | ||
Halliburton Co. | 5.000% | 11/15/45 | 7,569 | 6,820 | ||
Hess Corp. | 6.000% | 1/15/40 | 1,517 | 1,488 | ||
Hess Corp. | 5.600% | 2/15/41 | 4,197 | 3,951 | ||
Hess Corp. | 5.800% | 4/1/47 | 2,939 | 2,813 | ||
Kinder Morgan Energy Partners LP | 5.800% | 3/15/35 | 2,105 | 2,059 | ||
Kinder Morgan Energy Partners LP | 6.500% | 2/1/37 | 1,613 | 1,612 | ||
1 | Kinder Morgan Energy Partners LP | 6.950% | 1/15/38 | 4,141 | 4,431 | |
Kinder Morgan Energy Partners LP | 6.500% | 9/1/39 | 1,875 | 1,888 | ||
Kinder Morgan Energy Partners LP | 6.550% | 9/15/40 | 753 | 748 | ||
Kinder Morgan Energy Partners LP | 7.500% | 11/15/40 | 2,276 | 2,479 | ||
Kinder Morgan Energy Partners LP | 5.625% | 9/1/41 | 1,035 | 940 | ||
Kinder Morgan Energy Partners LP | 5.000% | 8/15/42 | 2,010 | 1,686 | ||
Kinder Morgan Energy Partners LP | 4.700% | 11/1/42 | 2,039 | 1,656 | ||
Kinder Morgan Energy Partners LP | 5.000% | 3/1/43 | 2,553 | 2,162 | ||
Kinder Morgan Energy Partners LP | 5.500% | 3/1/44 | 5,082 | 4,536 | ||
Kinder Morgan Energy Partners LP | 5.400% | 9/1/44 | 1,769 | 1,541 | ||
Kinder Morgan Inc. | 5.300% | 12/1/34 | 4,749 | 4,520 | ||
Kinder Morgan Inc. | 5.550% | 6/1/45 | 5,023 | 4,544 | ||
Kinder Morgan Inc. | 5.050% | 2/15/46 | 1,143 | 962 | ||
Kinder Morgan Inc. | 5.200% | 3/1/48 | 1,686 | 1,452 | ||
Kinder Morgan Inc. | 3.250% | 8/1/50 | 1,887 | 1,188 | ||
Kinder Morgan Inc. | 3.600% | 2/15/51 | 2,663 | 1,792 | ||
Kinder Morgan Inc. | 5.450% | 8/1/52 | 3,295 | 2,943 | ||
Magellan Midstream Partners LP | 5.150% | 10/15/43 | 1,645 | 1,394 | ||
Magellan Midstream Partners LP | 4.250% | 9/15/46 | 390 | 287 | ||
Magellan Midstream Partners LP | 4.200% | 10/3/47 | 1,592 | 1,173 | ||
Magellan Midstream Partners LP | 4.850% | 2/1/49 | 1,574 | 1,277 | ||
Magellan Midstream Partners LP | 3.950% | 3/1/50 | 1,723 | 1,206 | ||
Marathon Oil Corp. | 6.600% | 10/1/37 | 2,153 | 2,167 | ||
Marathon Oil Corp. | 5.200% | 6/1/45 | 2,999 | 2,476 | ||
Marathon Petroleum Corp. | 6.500% | 3/1/41 | 3,440 | 3,513 | ||
Marathon Petroleum Corp. | 4.750% | 9/15/44 | 4,119 | 3,429 | ||
Marathon Petroleum Corp. | 4.500% | 4/1/48 | 1,132 | 887 | ||
Marathon Petroleum Corp. | 5.000% | 9/15/54 | 1,178 | 962 | ||
MPLX LP | 4.500% | 4/15/38 | 5,201 | 4,406 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
MPLX LP | 5.200% | 3/1/47 | 3,602 | 3,104 | ||
MPLX LP | 5.200% | 12/1/47 | 2,833 | 2,429 | ||
MPLX LP | 4.700% | 4/15/48 | 5,123 | 4,114 | ||
MPLX LP | 5.500% | 2/15/49 | 6,668 | 5,938 | ||
MPLX LP | 4.950% | 3/14/52 | 2,221 | 1,829 | ||
MPLX LP | 5.650% | 3/1/53 | 1,499 | 1,359 | ||
MPLX LP | 4.900% | 4/15/58 | 1,764 | 1,403 | ||
NOV Inc. | 3.950% | 12/1/42 | 3,346 | 2,475 | ||
Occidental Petroleum Corp. | 6.450% | 9/15/36 | 5,820 | 5,952 | ||
Occidental Petroleum Corp. | 7.950% | 6/15/39 | 1,095 | 1,228 | ||
Occidental Petroleum Corp. | 6.200% | 3/15/40 | 2,316 | 2,284 | ||
Occidental Petroleum Corp. | 6.600% | 3/15/46 | 3,678 | 3,781 | ||
Occidental Petroleum Corp. | 4.400% | 4/15/46 | 1,435 | 1,103 | ||
Occidental Petroleum Corp. | 4.200% | 3/15/48 | 946 | 697 | ||
ONEOK Inc. | 6.050% | 9/1/33 | 4,700 | 4,737 | ||
ONEOK Inc. | 6.000% | 6/15/35 | 281 | 276 | ||
ONEOK Inc. | 4.950% | 7/13/47 | 3,096 | 2,545 | ||
ONEOK Inc. | 5.200% | 7/15/48 | 4,293 | 3,672 | ||
ONEOK Inc. | 4.450% | 9/1/49 | 2,285 | 1,714 | ||
ONEOK Inc. | 4.500% | 3/15/50 | 1,690 | 1,269 | ||
ONEOK Inc. | 7.150% | 1/15/51 | 970 | 1,027 | ||
ONEOK Inc. | 6.625% | 9/1/53 | 5,800 | 5,851 | ||
ONEOK Partners LP | 6.650% | 10/1/36 | 1,156 | 1,187 | ||
ONEOK Partners LP | 6.850% | 10/15/37 | 1,683 | 1,763 | ||
ONEOK Partners LP | 6.125% | 2/1/41 | 1,864 | 1,800 | ||
ONEOK Partners LP | 6.200% | 9/15/43 | 1,265 | 1,227 | ||
Ovintiv Inc. | 6.500% | 8/15/34 | 2,591 | 2,626 | ||
Ovintiv Inc. | 6.625% | 8/15/37 | 2,514 | 2,503 | ||
Ovintiv Inc. | 6.500% | 2/1/38 | 1,296 | 1,275 | ||
Ovintiv Inc. | 7.100% | 7/15/53 | 1,350 | 1,397 | ||
Phillips 66 | 4.650% | 11/15/34 | 4,887 | 4,582 | ||
Phillips 66 | 5.875% | 5/1/42 | 3,519 | 3,591 | ||
Phillips 66 | 4.875% | 11/15/44 | 6,156 | 5,555 | ||
Phillips 66 | 3.300% | 3/15/52 | 1,777 | 1,187 | ||
Phillips 66 Co. | 4.680% | 2/15/45 | 1,802 | 1,521 | ||
Phillips 66 Co. | 4.900% | 10/1/46 | 3,979 | 3,484 | ||
Plains All American Pipeline LP | 6.650% | 1/15/37 | 1,990 | 2,020 | ||
Plains All American Pipeline LP | 5.150% | 6/1/42 | 1,411 | 1,167 | ||
Plains All American Pipeline LP | 4.300% | 1/31/43 | 1,112 | 830 | ||
Plains All American Pipeline LP | 4.700% | 6/15/44 | 1,508 | 1,181 | ||
Plains All American Pipeline LP | 4.900% | 2/15/45 | 3,285 | 2,626 | ||
Sabine Pass Liquefaction LLC | 5.900% | 9/15/37 | 1,335 | 1,332 | ||
Shell International Finance BV | 4.125% | 5/11/35 | 7,847 | 7,158 | ||
Shell International Finance BV | 6.375% | 12/15/38 | 7,060 | 7,765 | ||
Shell International Finance BV | 5.500% | 3/25/40 | 4,403 | 4,498 | ||
Shell International Finance BV | 2.875% | 11/26/41 | 1,406 | 1,008 | ||
Shell International Finance BV | 3.625% | 8/21/42 | 1,448 | 1,163 | ||
Shell International Finance BV | 4.550% | 8/12/43 | 4,001 | 3,594 | ||
Shell International Finance BV | 4.375% | 5/11/45 | 11,566 | 10,027 | ||
Shell International Finance BV | 4.000% | 5/10/46 | 7,004 | 5,749 | ||
Shell International Finance BV | 3.750% | 9/12/46 | 3,781 | 2,967 | ||
Shell International Finance BV | 3.125% | 11/7/49 | 1,645 | 1,144 | ||
Shell International Finance BV | 3.250% | 4/6/50 | 8,719 | 6,191 | ||
Shell International Finance BV | 3.000% | 11/26/51 | 2,169 | 1,453 | ||
Spectra Energy Partners LP | 5.950% | 9/25/43 | 443 | 424 | ||
Spectra Energy Partners LP | 4.500% | 3/15/45 | 3,085 | 2,480 | ||
Suncor Energy Inc. | 5.950% | 12/1/34 | 992 | 982 | ||
Suncor Energy Inc. | 6.800% | 5/15/38 | 3,000 | 3,129 | ||
Suncor Energy Inc. | 6.500% | 6/15/38 | 5,658 | 5,785 | ||
Suncor Energy Inc. | 6.850% | 6/1/39 | 1,853 | 1,935 | ||
Suncor Energy Inc. | 4.000% | 11/15/47 | 1,808 | 1,354 | ||
Suncor Energy Inc. | 3.750% | 3/4/51 | 2,368 | 1,676 | ||
Targa Resources Corp. | 4.950% | 4/15/52 | 3,920 | 3,181 | ||
Targa Resources Corp. | 6.250% | 7/1/52 | 1,705 | 1,638 | ||
Targa Resources Corp. | 6.500% | 2/15/53 | 2,775 | 2,775 | ||
TotalEnergies Capital International SA | 2.986% | 6/29/41 | 2,642 | 1,935 | ||
TotalEnergies Capital International SA | 3.461% | 7/12/49 | 1,585 | 1,179 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
TotalEnergies Capital International SA | 3.127% | 5/29/50 | 10,243 | 7,087 | ||
TransCanada PipeLines Ltd. | 4.625% | 3/1/34 | 3,465 | 3,135 | ||
TransCanada PipeLines Ltd. | 5.600% | 3/31/34 | 561 | 543 | ||
TransCanada PipeLines Ltd. | 5.850% | 3/15/36 | 2,712 | 2,690 | ||
TransCanada PipeLines Ltd. | 6.200% | 10/15/37 | 2,813 | 2,852 | ||
TransCanada PipeLines Ltd. | 4.750% | 5/15/38 | 963 | 842 | ||
TransCanada PipeLines Ltd. | 7.250% | 8/15/38 | 2,141 | 2,380 | ||
TransCanada PipeLines Ltd. | 7.625% | 1/15/39 | 3,678 | 4,185 | ||
TransCanada PipeLines Ltd. | 6.100% | 6/1/40 | 1,659 | 1,670 | ||
TransCanada PipeLines Ltd. | 5.000% | 10/16/43 | 746 | 646 | ||
TransCanada PipeLines Ltd. | 4.875% | 5/15/48 | 5,570 | 4,733 | ||
TransCanada PipeLines Ltd. | 5.100% | 3/15/49 | 2,564 | 2,250 | ||
Transcontinental Gas Pipe Line Co. LLC | 5.400% | 8/15/41 | 1,505 | 1,407 | ||
Transcontinental Gas Pipe Line Co. LLC | 4.450% | 8/1/42 | 350 | 291 | ||
Transcontinental Gas Pipe Line Co. LLC | 4.600% | 3/15/48 | 2,172 | 1,812 | ||
Transcontinental Gas Pipe Line Co. LLC | 3.950% | 5/15/50 | 749 | 562 | ||
Valero Energy Corp. | 6.625% | 6/15/37 | 3,842 | 4,088 | ||
Valero Energy Corp. | 3.650% | 12/1/51 | 2,701 | 1,842 | ||
Valero Energy Corp. | 4.000% | 6/1/52 | 1,670 | 1,220 | ||
Western Midstream Operating LP | 5.450% | 4/1/44 | 1,929 | 1,618 | ||
Western Midstream Operating LP | 5.300% | 3/1/48 | 2,550 | 2,087 | ||
Western Midstream Operating LP | 5.500% | 8/15/48 | 1,362 | 1,130 | ||
Western Midstream Operating LP | 5.250% | 2/1/50 | 3,377 | 2,729 | ||
Williams Cos. Inc. | 6.300% | 4/15/40 | 3,240 | 3,322 | ||
Williams Cos. Inc. | 5.800% | 11/15/43 | 2,269 | 2,177 | ||
Williams Cos. Inc. | 5.400% | 3/4/44 | 2,192 | 1,977 | ||
Williams Cos. Inc. | 5.750% | 6/24/44 | 332 | 315 | ||
Williams Cos. Inc. | 4.900% | 1/15/45 | 2,191 | 1,866 | ||
Williams Cos. Inc. | 5.100% | 9/15/45 | 4,727 | 4,162 | ||
Williams Cos. Inc. | 4.850% | 3/1/48 | 2,700 | 2,301 | ||
Williams Cos. Inc. | 3.500% | 10/15/51 | 2,224 | 1,493 | ||
Williams Cos. Inc. | 5.300% | 8/15/52 | 3,016 | 2,718 | ||
628,773 | ||||||
Financials (13.6%) | ||||||
AerCap Ireland Capital DAC | 3.400% | 10/29/33 | 6,323 | 5,017 | ||
AerCap Ireland Capital DAC | 3.850% | 10/29/41 | 4,936 | 3,657 | ||
Aflac Inc. | 4.000% | 10/15/46 | 1,083 | 838 | ||
Aflac Inc. | 4.750% | 1/15/49 | 1,914 | 1,705 | ||
Alleghany Corp. | 4.900% | 9/15/44 | 997 | 918 | ||
Alleghany Corp. | 3.250% | 8/15/51 | 1,609 | 1,122 | ||
Allstate Corp. | 5.550% | 5/9/35 | 957 | 952 | ||
Allstate Corp. | 5.950% | 4/1/36 | 2,455 | 2,528 | ||
Allstate Corp. | 4.500% | 6/15/43 | 2,206 | 1,852 | ||
Allstate Corp. | 4.200% | 12/15/46 | 1,699 | 1,342 | ||
Allstate Corp. | 3.850% | 8/10/49 | 3,703 | 2,776 | ||
1 | Allstate Corp. | 6.500% | 5/15/57 | 986 | 943 | |
American Express Co. | 4.050% | 12/3/42 | 4,261 | 3,647 | ||
American Financial Group Inc. | 4.500% | 6/15/47 | 1,323 | 1,047 | ||
American International Group Inc. | 3.875% | 1/15/35 | 892 | 771 | ||
American International Group Inc. | 4.700% | 7/10/35 | 936 | 817 | ||
American International Group Inc. | 6.250% | 5/1/36 | 842 | 866 | ||
American International Group Inc. | 4.500% | 7/16/44 | 681 | 578 | ||
American International Group Inc. | 4.800% | 7/10/45 | 2,631 | 2,322 | ||
American International Group Inc. | 4.750% | 4/1/48 | 3,625 | 3,189 | ||
American International Group Inc. | 4.375% | 6/30/50 | 4,993 | 4,131 | ||
Aon Corp. | 6.250% | 9/30/40 | 1,677 | 1,746 | ||
Aon Corp. | 2.900% | 8/23/51 | 2,721 | 1,727 | ||
Aon Corp. | 3.900% | 2/28/52 | 2,651 | 2,029 | ||
Aon Global Ltd. | 4.600% | 6/14/44 | 1,745 | 1,494 | ||
Aon Global Ltd. | 4.750% | 5/15/45 | 2,506 | 2,184 | ||
Arch Capital Finance LLC | 5.031% | 12/15/46 | 1,579 | 1,385 | ||
Arch Capital Group Ltd. | 7.350% | 5/1/34 | 994 | 1,109 | ||
Arch Capital Group Ltd. | 3.635% | 6/30/50 | 3,525 | 2,541 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Arch Capital Group US Inc. | 5.144% | 11/1/43 | 630 | 559 | ||
Arthur J Gallagher & Co. | 3.500% | 5/20/51 | 2,215 | 1,530 | ||
Arthur J Gallagher & Co. | 3.050% | 3/9/52 | 1,040 | 653 | ||
Arthur J Gallagher & Co. | 5.750% | 3/2/53 | 2,475 | 2,422 | ||
Assured Guaranty US Holdings Inc. | 3.600% | 9/15/51 | 1,254 | 831 | ||
Athene Holding Ltd. | 3.950% | 5/25/51 | 1,277 | 886 | ||
Athene Holding Ltd. | 3.450% | 5/15/52 | 1,856 | 1,175 | ||
Bank of America Corp. | 6.110% | 1/29/37 | 6,143 | 6,356 | ||
1 | Bank of America Corp. | 4.244% | 4/24/38 | 4,702 | 4,087 | |
Bank of America Corp. | 7.750% | 5/14/38 | 6,656 | 7,786 | ||
1 | Bank of America Corp. | 4.078% | 4/23/40 | 7,805 | 6,558 | |
1 | Bank of America Corp. | 2.676% | 6/19/41 | 13,868 | 9,549 | |
1 | Bank of America Corp. | 5.875% | 2/7/42 | 7,298 | 7,554 | |
Bank of America Corp. | 3.311% | 4/22/42 | 9,033 | 6,762 | ||
1 | Bank of America Corp. | 5.000% | 1/21/44 | 6,892 | 6,554 | |
1 | Bank of America Corp. | 4.875% | 4/1/44 | 2,533 | 2,372 | |
1 | Bank of America Corp. | 4.750% | 4/21/45 | 1,926 | 1,733 | |
1 | Bank of America Corp. | 4.443% | 1/20/48 | 7,762 | 6,621 | |
1 | Bank of America Corp. | 3.946% | 1/23/49 | 639 | 502 | |
1 | Bank of America Corp. | 4.330% | 3/15/50 | 14,604 | 12,362 | |
1 | Bank of America Corp. | 4.083% | 3/20/51 | 16,259 | 13,063 | |
1 | Bank of America Corp. | 2.831% | 10/24/51 | 735 | 471 | |
1 | Bank of America Corp. | 3.483% | 3/13/52 | 2,343 | 1,706 | |
Bank of America Corp. | 2.972% | 7/21/52 | 6,613 | 4,364 | ||
1 | Bank of America NA | 6.000% | 10/15/36 | 5,037 | 5,282 | |
Barclays plc | 3.811% | 3/10/42 | 430 | 301 | ||
Barclays plc | 3.330% | 11/24/42 | 3,359 | 2,291 | ||
Barclays plc | 5.250% | 8/17/45 | 5,486 | 4,914 | ||
Barclays plc | 4.950% | 1/10/47 | 7,398 | 6,385 | ||
Berkshire Hathaway Finance Corp. | 5.750% | 1/15/40 | 1,829 | 1,979 | ||
Berkshire Hathaway Finance Corp. | 4.400% | 5/15/42 | 3,850 | 3,563 | ||
Berkshire Hathaway Finance Corp. | 4.300% | 5/15/43 | 3,644 | 3,262 | ||
Berkshire Hathaway Finance Corp. | 4.200% | 8/15/48 | 9,156 | 7,968 | ||
Berkshire Hathaway Finance Corp. | 4.250% | 1/15/49 | 7,712 | 6,788 | ||
Berkshire Hathaway Finance Corp. | 2.850% | 10/15/50 | 6,053 | 4,061 | ||
Berkshire Hathaway Finance Corp. | 2.500% | 1/15/51 | 2,193 | 1,367 | ||
Berkshire Hathaway Finance Corp. | 3.850% | 3/15/52 | 8,224 | 6,532 | ||
Berkshire Hathaway Inc. | 4.500% | 2/11/43 | 1,721 | 1,612 | ||
Brighthouse Financial Inc. | 4.700% | 6/22/47 | 2,441 | 1,814 | ||
Brighthouse Financial Inc. | 3.850% | 12/22/51 | 2,815 | 1,765 | ||
Brookfield Finance Inc. | 4.700% | 9/20/47 | 2,814 | 2,322 | ||
Brookfield Finance Inc. | 3.500% | 3/30/51 | 1,146 | 748 | ||
Brookfield Finance Inc. | 3.625% | 2/15/52 | 2,176 | 1,449 | ||
Brookfield Finance LLC | 3.450% | 4/15/50 | 2,282 | 1,479 | ||
Brown & Brown Inc. | 4.950% | 3/17/52 | 741 | 625 | ||
Chubb Corp. | 6.000% | 5/11/37 | 2,024 | 2,153 | ||
1 | Chubb Corp. | 6.500% | 5/15/38 | 3,262 | 3,633 | |
Chubb INA Holdings Inc. | 6.700% | 5/15/36 | 2,028 | 2,270 | ||
Chubb INA Holdings Inc. | 4.150% | 3/13/43 | 739 | 632 | ||
Chubb INA Holdings Inc. | 4.350% | 11/3/45 | 2,623 | 2,292 | ||
Chubb INA Holdings Inc. | 2.850% | 12/15/51 | 1,895 | 1,262 | ||
Chubb INA Holdings Inc. | 3.050% | 12/15/61 | 2,172 | 1,407 | ||
CI Financial Corp. | 4.100% | 6/15/51 | 3,043 | 1,841 | ||
Cincinnati Financial Corp. | 6.125% | 11/1/34 | 1,219 | 1,254 | ||
Citigroup Inc. | 6.000% | 10/31/33 | 2,563 | 2,580 | ||
Citigroup Inc. | 6.125% | 8/25/36 | 1,774 | 1,813 | ||
1 | Citigroup Inc. | 3.878% | 1/24/39 | 3,554 | 2,915 | |
Citigroup Inc. | 8.125% | 7/15/39 | 6,125 | 7,634 | ||
1 | Citigroup Inc. | 5.316% | 3/26/41 | 4,233 | 4,018 | |
Citigroup Inc. | 5.875% | 1/30/42 | 2,942 | 2,988 | ||
Citigroup Inc. | 2.904% | 11/3/42 | 2,491 | 1,714 | ||
Citigroup Inc. | 6.675% | 9/13/43 | 4,479 | 4,707 | ||
Citigroup Inc. | 5.300% | 5/6/44 | 2,232 | 2,036 | ||
Citigroup Inc. | 4.650% | 7/30/45 | 2,777 | 2,392 | ||
Citigroup Inc. | 4.750% | 5/18/46 | 6,578 | 5,501 | ||
1 | Citigroup Inc. | 4.281% | 4/24/48 | 2,849 | 2,380 | |
Citigroup Inc. | 4.650% | 7/23/48 | 10,035 | 8,702 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
CME Group Inc. | 5.300% | 9/15/43 | 2,758 | 2,793 | ||
CME Group Inc. | 4.150% | 6/15/48 | 1,497 | 1,316 | ||
1 | Cooperatieve Rabobank UA | 5.250% | 5/24/41 | 5,629 | 5,730 | |
Cooperatieve Rabobank UA | 5.750% | 12/1/43 | 3,646 | 3,565 | ||
Cooperatieve Rabobank UA | 5.250% | 8/4/45 | 2,874 | 2,629 | ||
Corebridge Financial Inc. | 4.350% | 4/5/42 | 1,874 | 1,484 | ||
Corebridge Financial Inc. | 4.400% | 4/5/52 | 4,395 | 3,395 | ||
Equitable Holdings Inc. | 5.000% | 4/20/48 | 4,995 | 4,207 | ||
Everest Reinsurance Holdings Inc. | 4.868% | 6/1/44 | 1,357 | 1,183 | ||
Everest Reinsurance Holdings Inc. | 3.500% | 10/15/50 | 3,264 | 2,236 | ||
Everest Reinsurance Holdings Inc. | 3.125% | 10/15/52 | 3,038 | 1,937 | ||
Fidelity National Financial Inc. | 3.200% | 9/17/51 | 1,453 | 852 | ||
Fifth Third Bancorp | 8.250% | 3/1/38 | 3,517 | 3,971 | ||
Franklin Resources Inc. | 2.950% | 8/12/51 | 634 | 390 | ||
GATX Corp. | 5.450% | 9/15/33 | 1,425 | 1,394 | ||
GATX Corp. | 5.200% | 3/15/44 | 1,019 | 889 | ||
GATX Corp. | 3.100% | 6/1/51 | 1,984 | 1,230 | ||
Global Payments Inc. | 4.150% | 8/15/49 | 2,236 | 1,640 | ||
Global Payments Inc. | 5.950% | 8/15/52 | 3,413 | 3,243 | ||
Goldman Sachs Capital I | 6.345% | 2/15/34 | 2,325 | 2,338 | ||
Goldman Sachs Group Inc. | 6.450% | 5/1/36 | 3,320 | 3,454 | ||
Goldman Sachs Group Inc. | 6.750% | 10/1/37 | 19,658 | 20,844 | ||
1 | Goldman Sachs Group Inc. | 4.017% | 10/31/38 | 6,258 | 5,193 | |
1 | Goldman Sachs Group Inc. | 4.411% | 4/23/39 | 6,216 | 5,367 | |
Goldman Sachs Group Inc. | 6.250% | 2/1/41 | 8,786 | 9,281 | ||
Goldman Sachs Group Inc. | 3.210% | 4/22/42 | 5,673 | 4,075 | ||
Goldman Sachs Group Inc. | 2.908% | 7/21/42 | 3,584 | 2,477 | ||
Goldman Sachs Group Inc. | 3.436% | 2/24/43 | 7,950 | 5,859 | ||
1 | Goldman Sachs Group Inc. | 4.800% | 7/8/44 | 7,533 | 6,712 | |
Goldman Sachs Group Inc. | 5.150% | 5/22/45 | 5,433 | 4,997 | ||
Goldman Sachs Group Inc. | 4.750% | 10/21/45 | 4,554 | 4,089 | ||
Hartford Financial Services Group Inc. | 5.950% | 10/15/36 | 1,046 | 1,064 | ||
Hartford Financial Services Group Inc. | 6.100% | 10/1/41 | 1,634 | 1,650 | ||
Hartford Financial Services Group Inc. | 4.300% | 4/15/43 | 390 | 310 | ||
Hartford Financial Services Group Inc. | 4.400% | 3/15/48 | 1,022 | 850 | ||
Hartford Financial Services Group Inc. | 3.600% | 8/19/49 | 2,833 | 2,067 | ||
Hartford Financial Services Group Inc. | 2.900% | 9/15/51 | 2,005 | 1,276 | ||
1 | HSBC Bank USA NA | 5.625% | 8/15/35 | 1,165 | 1,107 | |
1 | HSBC Bank USA NA | 7.000% | 1/15/39 | 3,679 | 3,973 | |
HSBC Holdings plc | 8.113% | 11/3/33 | 2,533 | 2,752 | ||
1 | HSBC Holdings plc | 6.500% | 5/2/36 | 5,394 | 5,278 | |
HSBC Holdings plc | 6.500% | 9/15/37 | 4,631 | 4,734 | ||
1 | HSBC Holdings plc | 6.500% | 9/15/37 | 4,655 | 4,540 | |
1 | HSBC Holdings plc | 6.800% | 6/1/38 | 2,040 | 2,045 | |
HSBC Holdings plc | 6.100% | 1/14/42 | 2,822 | 2,955 | ||
HSBC Holdings plc | 6.332% | 3/9/44 | 9,757 | 9,829 | ||
HSBC Holdings plc | 5.250% | 3/14/44 | 4,738 | 4,157 | ||
Intercontinental Exchange Inc. | 2.650% | 9/15/40 | 5,318 | 3,709 | ||
Intercontinental Exchange Inc. | 4.250% | 9/21/48 | 4,960 | 4,177 | ||
Intercontinental Exchange Inc. | 3.000% | 6/15/50 | 4,520 | 3,015 | ||
Intercontinental Exchange Inc. | 4.950% | 6/15/52 | 4,775 | 4,448 | ||
Intercontinental Exchange Inc. | 3.000% | 9/15/60 | 4,280 | 2,660 | ||
Intercontinental Exchange Inc. | 5.200% | 6/15/62 | 3,082 | 2,929 | ||
Invesco Finance plc | 5.375% | 11/30/43 | 1,558 | 1,464 | ||
Jackson Financial Inc. | 4.000% | 11/23/51 | 1,670 | 1,112 | ||
Jefferies Financial Group Inc. | 6.250% | 1/15/36 | 904 | 915 | ||
Jefferies Financial Group Inc. | 6.500% | 1/20/43 | 1,669 | 1,665 | ||
JPMorgan Chase & Co. | 6.400% | 5/15/38 | 9,746 | 10,719 | ||
1 | JPMorgan Chase & Co. | 3.882% | 7/24/38 | 5,060 | 4,269 | |
JPMorgan Chase & Co. | 5.500% | 10/15/40 | 2,715 | 2,732 | ||
1 | JPMorgan Chase & Co. | 3.109% | 4/22/41 | 7,864 | 5,801 | |
JPMorgan Chase & Co. | 5.600% | 7/15/41 | 8,869 | 8,983 | ||
JPMorgan Chase & Co. | 2.525% | 11/19/41 | 3,407 | 2,294 | ||
JPMorgan Chase & Co. | 5.400% | 1/6/42 | 6,766 | 6,750 | ||
JPMorgan Chase & Co. | 3.157% | 4/22/42 | 3,973 | 2,910 | ||
JPMorgan Chase & Co. | 5.625% | 8/16/43 | 4,162 | 4,138 | ||
JPMorgan Chase & Co. | 4.850% | 2/1/44 | 3,784 | 3,549 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
JPMorgan Chase & Co. | 4.950% | 6/1/45 | 5,694 | 5,207 | ||
1 | JPMorgan Chase & Co. | 4.260% | 2/22/48 | 5,177 | 4,338 | |
1 | JPMorgan Chase & Co. | 4.032% | 7/24/48 | 1,742 | 1,404 | |
1 | JPMorgan Chase & Co. | 3.964% | 11/15/48 | 9,607 | 7,612 | |
1 | JPMorgan Chase & Co. | 3.897% | 1/23/49 | 5,399 | 4,230 | |
1 | JPMorgan Chase & Co. | 3.109% | 4/22/51 | 9,025 | 6,112 | |
JPMorgan Chase & Co. | 3.328% | 4/22/52 | 14,599 | 10,255 | ||
Legg Mason Inc. | 5.625% | 1/15/44 | 1,808 | 1,750 | ||
Lincoln National Corp. | 6.300% | 10/9/37 | 989 | 985 | ||
Lincoln National Corp. | 7.000% | 6/15/40 | 1,778 | 1,867 | ||
Lincoln National Corp. | 4.350% | 3/1/48 | 811 | 588 | ||
Lloyds Banking Group plc | 5.300% | 12/1/45 | 1,386 | 1,215 | ||
Lloyds Banking Group plc | 3.369% | 12/14/46 | 3,608 | 2,359 | ||
Lloyds Banking Group plc | 4.344% | 1/9/48 | 7,156 | 5,334 | ||
Loews Corp. | 4.125% | 5/15/43 | 1,521 | 1,250 | ||
Manulife Financial Corp. | 5.375% | 3/4/46 | 2,470 | 2,376 | ||
Markel Group Inc. | 5.000% | 4/5/46 | 1,357 | 1,178 | ||
Markel Group Inc. | 4.300% | 11/1/47 | 1,518 | 1,171 | ||
Markel Group Inc. | 5.000% | 5/20/49 | 1,598 | 1,402 | ||
Markel Group Inc. | 4.150% | 9/17/50 | 1,341 | 1,012 | ||
Markel Group Inc. | 3.450% | 5/7/52 | 2,315 | 1,566 | ||
Marsh & McLennan Cos. Inc. | 4.750% | 3/15/39 | 1,280 | 1,186 | ||
Marsh & McLennan Cos. Inc. | 4.350% | 1/30/47 | 3,000 | 2,542 | ||
Marsh & McLennan Cos. Inc. | 4.200% | 3/1/48 | 1,317 | 1,090 | ||
Marsh & McLennan Cos. Inc. | 4.900% | 3/15/49 | 5,367 | 4,928 | ||
Marsh & McLennan Cos. Inc. | 2.900% | 12/15/51 | 1,225 | 793 | ||
Marsh & McLennan Cos. Inc. | 6.250% | 11/1/52 | 2,235 | 2,442 | ||
Marsh & McLennan Cos. Inc. | 5.450% | 3/15/53 | 1,407 | 1,388 | ||
Mastercard Inc. | 3.950% | 2/26/48 | 2,050 | 1,741 | ||
Mastercard Inc. | 3.650% | 6/1/49 | 4,249 | 3,401 | ||
Mastercard Inc. | 3.850% | 3/26/50 | 4,508 | 3,739 | ||
Mastercard Inc. | 2.950% | 3/15/51 | 3,355 | 2,344 | ||
MetLife Inc. | 6.375% | 6/15/34 | 2,555 | 2,744 | ||
MetLife Inc. | 5.700% | 6/15/35 | 5,371 | 5,498 | ||
1 | MetLife Inc. | 6.400% | 12/15/36 | 2,169 | 2,159 | |
1 | MetLife Inc. | 10.750% | 8/1/39 | 1,581 | 2,028 | |
MetLife Inc. | 5.875% | 2/6/41 | 1,697 | 1,746 | ||
MetLife Inc. | 4.125% | 8/13/42 | 1,721 | 1,426 | ||
MetLife Inc. | 4.875% | 11/13/43 | 3,983 | 3,632 | ||
MetLife Inc. | 4.721% | 12/15/44 | 877 | 769 | ||
MetLife Inc. | 4.050% | 3/1/45 | 3,809 | 3,114 | ||
MetLife Inc. | 4.600% | 5/13/46 | 380 | 333 | ||
MetLife Inc. | 5.000% | 7/15/52 | 4,697 | 4,274 | ||
MetLife Inc. | 5.250% | 1/15/54 | 1,260 | 1,193 | ||
Mitsubishi UFJ Financial Group Inc. | 4.286% | 7/26/38 | 545 | 482 | ||
Mitsubishi UFJ Financial Group Inc. | 4.153% | 3/7/39 | 2,504 | 2,177 | ||
Mitsubishi UFJ Financial Group Inc. | 3.751% | 7/18/39 | 6,266 | 5,170 | ||
1 | Morgan Stanley | 3.971% | 7/22/38 | 10,844 | 9,039 | |
1 | Morgan Stanley | 4.457% | 4/22/39 | 4,834 | 4,258 | |
Morgan Stanley | 3.217% | 4/22/42 | 6,916 | 5,093 | ||
Morgan Stanley | 6.375% | 7/24/42 | 5,131 | 5,596 | ||
Morgan Stanley | 4.300% | 1/27/45 | 6,265 | 5,326 | ||
Morgan Stanley | 4.375% | 1/22/47 | 8,241 | 7,050 | ||
1 | Morgan Stanley | 5.597% | 3/24/51 | 5,343 | 5,371 | |
1 | Morgan Stanley | 2.802% | 1/25/52 | 4,432 | 2,806 | |
Nasdaq Inc. | 5.550% | 2/15/34 | 4,067 | 4,051 | ||
Nasdaq Inc. | 2.500% | 12/21/40 | 1,859 | 1,222 | ||
Nasdaq Inc. | 3.250% | 4/28/50 | 1,875 | 1,245 | ||
Nasdaq Inc. | 3.950% | 3/7/52 | 1,875 | 1,404 | ||
Nasdaq Inc. | 5.950% | 8/15/53 | 2,700 | 2,678 | ||
Nasdaq Inc. | 6.100% | 6/28/63 | 2,777 | 2,740 | ||
1 | Nationwide Financial Services Inc. | 6.750% | 5/15/37 | 1,022 | 981 | |
Old Republic International Corp. | 3.850% | 6/11/51 | 2,055 | 1,430 | ||
PayPal Holdings Inc. | 3.250% | 6/1/50 | 5,968 | 4,238 | ||
PayPal Holdings Inc. | 5.050% | 6/1/52 | 1,068 | 1,032 | ||
PayPal Holdings Inc. | 5.250% | 6/1/62 | 1,855 | 1,765 | ||
Principal Financial Group Inc. | 6.050% | 10/15/36 | 1,575 | 1,617 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Principal Financial Group Inc. | 4.625% | 9/15/42 | 987 | ��� 826 | ||
Principal Financial Group Inc. | 4.350% | 5/15/43 | 1,396 | 1,119 | ||
Principal Financial Group Inc. | 4.300% | 11/15/46 | 1,525 | 1,197 | ||
Principal Financial Group Inc. | 5.500% | 3/15/53 | 1,355 | 1,263 | ||
Progressive Corp. | 6.625% | 3/1/29 | 1 | 1 | ||
Progressive Corp. | 4.350% | 4/25/44 | 1,490 | 1,251 | ||
Progressive Corp. | 3.700% | 1/26/45 | 1,560 | 1,176 | ||
Progressive Corp. | 4.125% | 4/15/47 | 3,663 | 3,043 | ||
Progressive Corp. | 4.200% | 3/15/48 | 1,755 | 1,471 | ||
Progressive Corp. | 3.950% | 3/26/50 | 897 | 718 | ||
Progressive Corp. | 3.700% | 3/15/52 | 1,241 | 947 | ||
1 | Prudential Financial Inc. | 5.700% | 12/14/36 | 3,848 | 3,925 | |
1 | Prudential Financial Inc. | 6.625% | 12/1/37 | 1,446 | 1,598 | |
1 | Prudential Financial Inc. | 3.000% | 3/10/40 | 2,117 | 1,562 | |
1 | Prudential Financial Inc. | 6.625% | 6/21/40 | 1,091 | 1,182 | |
1 | Prudential Financial Inc. | 5.100% | 8/15/43 | 516 | 462 | |
1 | Prudential Financial Inc. | 4.600% | 5/15/44 | 2,151 | 1,896 | |
Prudential Financial Inc. | 3.905% | 12/7/47 | 3,120 | 2,424 | ||
1 | Prudential Financial Inc. | 4.418% | 3/27/48 | 2,091 | 1,754 | |
Prudential Financial Inc. | 3.935% | 12/7/49 | 5,709 | 4,385 | ||
1 | Prudential Financial Inc. | 4.350% | 2/25/50 | 1,088 | 905 | |
1 | Prudential Financial Inc. | 3.700% | 3/13/51 | 4,459 | 3,323 | |
Raymond James Financial Inc. | 4.950% | 7/15/46 | 2,572 | 2,244 | ||
Raymond James Financial Inc. | 3.750% | 4/1/51 | 2,697 | 1,962 | ||
1 | Regions Bank | 6.450% | 6/26/37 | 1,575 | 1,548 | |
Regions Financial Corp. | 7.375% | 12/10/37 | 980 | 1,038 | ||
Reinsurance Group of America Inc. | 6.000% | 9/15/33 | 1,200 | 1,206 | ||
Selective Insurance Group Inc. | 5.375% | 3/1/49 | 910 | 818 | ||
Sumitomo Mitsui Financial Group Inc. | 2.296% | 1/12/41 | 1,580 | 1,021 | ||
Sumitomo Mitsui Financial Group Inc. | 2.930% | 9/17/41 | 398 | 276 | ||
Sumitomo Mitsui Financial Group Inc. | 3.050% | 1/14/42 | 1,625 | 1,187 | ||
Sumitomo Mitsui Financial Group Inc. | 6.184% | 7/13/43 | 5,079 | 5,109 | ||
Transatlantic Holdings Inc. | 8.000% | 11/30/39 | 1,348 | 1,646 | ||
Travelers Cos. Inc. | 6.750% | 6/20/36 | 1,911 | 2,173 | ||
1 | Travelers Cos. Inc. | 6.250% | 6/15/37 | 2,815 | 3,073 | |
Travelers Cos. Inc. | 5.350% | 11/1/40 | 2,237 | 2,233 | ||
Travelers Cos. Inc. | 4.300% | 8/25/45 | 3,235 | 2,737 | ||
Travelers Cos. Inc. | 3.750% | 5/15/46 | 822 | 635 | ||
Travelers Cos. Inc. | 4.000% | 5/30/47 | 3,144 | 2,586 | ||
Travelers Cos. Inc. | 4.050% | 3/7/48 | 962 | 797 | ||
Travelers Cos. Inc. | 4.100% | 3/4/49 | 2,726 | 2,256 | ||
Travelers Cos. Inc. | 2.550% | 4/27/50 | 1,475 | 924 | ||
Travelers Cos. Inc. | 3.050% | 6/8/51 | 2,805 | 1,934 | ||
Travelers Cos. Inc. | 5.450% | 5/25/53 | 1,145 | 1,158 | ||
UBS Group AG | 4.875% | 5/15/45 | 5,908 | 5,254 | ||
Unum Group | 5.750% | 8/15/42 | 1,454 | 1,327 | ||
Unum Group | 4.500% | 12/15/49 | 1,668 | 1,256 | ||
Unum Group | 4.125% | 6/15/51 | 1,926 | 1,361 | ||
Visa Inc. | 4.150% | 12/14/35 | 6,132 | 5,785 | ||
Visa Inc. | 2.700% | 4/15/40 | 2,983 | 2,225 | ||
Visa Inc. | 4.300% | 12/14/45 | 10,991 | 9,936 | ||
Visa Inc. | 3.650% | 9/15/47 | 2,533 | 2,066 | ||
Visa Inc. | 2.000% | 8/15/50 | 4,963 | 2,935 | ||
Voya Financial Inc. | 5.700% | 7/15/43 | 1,562 | 1,443 | ||
Voya Financial Inc. | 4.800% | 6/15/46 | 597 | 473 | ||
W R Berkley Corp. | 4.750% | 8/1/44 | 1,149 | 979 | ||
W R Berkley Corp. | 4.000% | 5/12/50 | 2,280 | 1,733 | ||
W R Berkley Corp. | 3.150% | 9/30/61 | 1,158 | 691 | ||
Wachovia Corp. | 7.500% | 4/15/35 | 305 | 342 | ||
Wachovia Corp. | 5.500% | 8/1/35 | 2,694 | 2,600 | ||
1 | Wells Fargo & Co. | 3.068% | 4/30/41 | 12,454 | 8,916 | |
Wells Fargo & Co. | 5.375% | 11/2/43 | 9,449 | 8,695 | ||
Wells Fargo & Co. | 5.606% | 1/15/44 | 11,307 | 10,647 | ||
1 | Wells Fargo & Co. | 4.650% | 11/4/44 | 10,862 | 8,983 | |
Wells Fargo & Co. | 3.900% | 5/1/45 | 4,871 | 3,812 | ||
1 | Wells Fargo & Co. | 4.900% | 11/17/45 | 5,202 | 4,462 | |
1 | Wells Fargo & Co. | 4.400% | 6/14/46 | 4,863 | 3,855 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Wells Fargo & Co. | 4.750% | 12/7/46 | 3,618 | 3,002 | |
1 | Wells Fargo & Co. | 5.013% | 4/4/51 | 16,226 | 14,636 | |
1 | Wells Fargo & Co. | 4.611% | 4/25/53 | 14,397 | 12,174 | |
Wells Fargo Bank NA | 5.950% | 8/26/36 | 1,136 | 1,130 | ||
1 | Wells Fargo Bank NA | 5.850% | 2/1/37 | 1,848 | 1,840 | |
1 | Wells Fargo Bank NA | 6.600% | 1/15/38 | 4,666 | 4,927 | |
Western Union Co. | 6.200% | 11/17/36 | 1,492 | 1,496 | ||
Westpac Banking Corp. | 4.421% | 7/24/39 | 2,918 | 2,349 | ||
Westpac Banking Corp. | 2.963% | 11/16/40 | 3,202 | 2,074 | ||
Westpac Banking Corp. | 3.133% | 11/18/41 | 2,175 | 1,417 | ||
Willis North America Inc. | 5.050% | 9/15/48 | 1,859 | 1,561 | ||
Willis North America Inc. | 3.875% | 9/15/49 | 1,789 | 1,263 | ||
XL Group Ltd. | 5.250% | 12/15/43 | 1,497 | 1,417 | ||
948,459 | ||||||
Health Care (15.6%) | ||||||
3 | Abbott Laboratories | 4.750% | 11/30/36 | 4,981 | 4,941 | |
Abbott Laboratories | 6.150% | 11/30/37 | 2,023 | 2,243 | ||
Abbott Laboratories | 6.000% | 4/1/39 | 2,290 | 2,526 | ||
Abbott Laboratories | 5.300% | 5/27/40 | 2,421 | 2,485 | ||
Abbott Laboratories | 4.750% | 4/15/43 | 1,134 | 1,086 | ||
Abbott Laboratories | 4.900% | 11/30/46 | 9,966 | 9,707 | ||
AbbVie Inc. | 4.550% | 3/15/35 | 4,791 | 4,528 | ||
AbbVie Inc. | 4.500% | 5/14/35 | 9,552 | 8,985 | ||
AbbVie Inc. | 4.300% | 5/14/36 | 5,181 | 4,751 | ||
AbbVie Inc. | 4.050% | 11/21/39 | 13,595 | 11,656 | ||
AbbVie Inc. | 4.625% | 10/1/42 | 744 | 660 | ||
AbbVie Inc. | 4.400% | 11/6/42 | 8,994 | 7,852 | ||
AbbVie Inc. | 4.850% | 6/15/44 | 6,796 | 6,207 | ||
AbbVie Inc. | 4.750% | 3/15/45 | 2,445 | 2,194 | ||
AbbVie Inc. | 4.700% | 5/14/45 | 9,011 | 8,089 | ||
AbbVie Inc. | 4.450% | 5/14/46 | 3,414 | 2,953 | ||
AbbVie Inc. | 4.875% | 11/14/48 | 3,433 | 3,165 | ||
AbbVie Inc. | 4.250% | 11/21/49 | 19,294 | 16,245 | ||
1 | AdventHealth Obligated Group | 2.795% | 11/15/51 | 401 | 256 | |
Adventist Health System | 3.630% | 3/1/49 | 896 | 630 | ||
Advocate Health & Hospitals Corp. | 4.272% | 8/15/48 | 855 | 726 | ||
Advocate Health & Hospitals Corp. | 3.387% | 10/15/49 | 1,445 | 1,046 | ||
1 | Advocate Health & Hospitals Corp. | 3.008% | 6/15/50 | 2,223 | 1,483 | |
Aetna Inc. | 6.625% | 6/15/36 | 1,244 | 1,335 | ||
Aetna Inc. | 6.750% | 12/15/37 | 1,772 | 1,931 | ||
Aetna Inc. | 4.500% | 5/15/42 | 2,595 | 2,166 | ||
Aetna Inc. | 4.125% | 11/15/42 | 1,976 | 1,568 | ||
Aetna Inc. | 4.750% | 3/15/44 | 3,229 | 2,776 | ||
Aetna Inc. | 3.875% | 8/15/47 | 3,806 | 2,849 | ||
AHS Hospital Corp. | 5.024% | 7/1/45 | 1,418 | 1,333 | ||
1 | AHS Hospital Corp. | 2.780% | 7/1/51 | 1,365 | 854 | |
1 | Allina Health System | 3.887% | 4/15/49 | 1,122 | 892 | |
1 | Allina Health System | 2.902% | 11/15/51 | 1,185 | 758 | |
Amgen Inc. | 6.375% | 6/1/37 | 455 | 485 | ||
Amgen Inc. | 6.400% | 2/1/39 | 1,084 | 1,155 | ||
Amgen Inc. | 3.150% | 2/21/40 | 5,469 | 4,079 | ||
Amgen Inc. | 5.750% | 3/15/40 | 1,559 | 1,537 | ||
Amgen Inc. | 2.800% | 8/15/41 | 3,681 | 2,538 | ||
Amgen Inc. | 4.950% | 10/1/41 | 718 | 656 | ||
Amgen Inc. | 5.150% | 11/15/41 | 1,425 | 1,332 | ||
Amgen Inc. | 5.650% | 6/15/42 | 2,307 | 2,266 | ||
Amgen Inc. | 5.600% | 3/2/43 | 10,703 | 10,505 | ||
Amgen Inc. | 4.400% | 5/1/45 | 7,524 | 6,316 | ||
Amgen Inc. | 4.563% | 6/15/48 | 1,991 | 1,697 | ||
Amgen Inc. | 3.375% | 2/21/50 | 7,993 | 5,596 | ||
Amgen Inc. | 4.663% | 6/15/51 | 12,081 | 10,380 | ||
Amgen Inc. | 3.000% | 1/15/52 | 2,494 | 1,621 | ||
Amgen Inc. | 4.200% | 2/22/52 | 1,920 | 1,528 | ||
Amgen Inc. | 4.875% | 3/1/53 | 3,522 | 3,118 | ||
Amgen Inc. | 5.650% | 3/2/53 | 15,470 | 15,336 | ||
Amgen Inc. | 2.770% | 9/1/53 | 3,294 | 1,970 | ||
Amgen Inc. | 4.400% | 2/22/62 | 3,033 | 2,401 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Amgen Inc. | 5.750% | 3/2/63 | 11,580 | 11,423 | ||
1 | Ascension Health | 3.106% | 11/15/39 | 2,059 | 1,561 | |
Ascension Health | 3.945% | 11/15/46 | 4,038 | 3,290 | ||
1 | Ascension Health | 4.847% | 11/15/53 | 530 | 491 | |
AstraZeneca plc | 6.450% | 9/15/37 | 9,032 | 10,156 | ||
AstraZeneca plc | 4.000% | 9/18/42 | 3,861 | 3,320 | ||
AstraZeneca plc | 4.375% | 11/16/45 | 4,271 | 3,795 | ||
AstraZeneca plc | 4.375% | 8/17/48 | 1,892 | 1,692 | ||
AstraZeneca plc | 2.125% | 8/6/50 | 1,130 | 671 | ||
AstraZeneca plc | 3.000% | 5/28/51 | 3,090 | 2,180 | ||
Banner Health | 2.907% | 1/1/42 | 1,035 | 737 | ||
1 | Banner Health | 3.181% | 1/1/50 | 990 | 681 | |
Banner Health | 2.913% | 1/1/51 | 1,664 | 1,062 | ||
1 | Baptist Health South Florida Obligated Group | 3.115% | 11/15/71 | 875 | 506 | |
1 | Baptist Healthcare System Obligated Group | 3.540% | 8/15/50 | 1,700 | 1,214 | |
Baxalta Inc. | 5.250% | 6/23/45 | 2,210 | 2,087 | ||
Baxter International Inc. | 3.500% | 8/15/46 | 1,729 | 1,164 | ||
Baxter International Inc. | 3.132% | 12/1/51 | 2,522 | 1,604 | ||
1 | BayCare Health System Inc. | 3.831% | 11/15/50 | 1,958 | 1,540 | |
Baylor Scott & White Holdings | 4.185% | 11/15/45 | 1,866 | 1,578 | ||
Baylor Scott & White Holdings | 3.967% | 11/15/46 | 1,108 | 906 | ||
1 | Baylor Scott & White Holdings | 2.839% | 11/15/50 | 3,422 | 2,256 | |
Becton Dickinson & Co. | 4.685% | 12/15/44 | 2,194 | 1,944 | ||
Becton Dickinson & Co. | 4.669% | 6/6/47 | 5,736 | 5,070 | ||
Becton Dickinson & Co. | 3.794% | 5/20/50 | 2,444 | 1,890 | ||
1 | Beth Israel Lahey Health Inc. | 3.080% | 7/1/51 | 1,320 | 810 | |
Biogen Inc. | 5.200% | 9/15/45 | 3,205 | 3,008 | ||
Biogen Inc. | 3.150% | 5/1/50 | 5,629 | 3,674 | ||
Biogen Inc. | 3.250% | 2/15/51 | 2,300 | 1,529 | ||
1 | Bon Secours Mercy Health Inc. | 3.205% | 6/1/50 | 1,010 | 682 | |
Boston Scientific Corp. | 6.500% | 11/15/35 | 1,690 | 1,833 | ||
Boston Scientific Corp. | 4.550% | 3/1/39 | 306 | 276 | ||
Boston Scientific Corp. | 7.375% | 1/15/40 | 1,412 | 1,634 | ||
Boston Scientific Corp. | 4.700% | 3/1/49 | 2,357 | 2,111 | ||
Bristol-Myers Squibb Co. | 4.125% | 6/15/39 | 4,566 | 4,030 | ||
Bristol-Myers Squibb Co. | 2.350% | 11/13/40 | 2,697 | 1,819 | ||
Bristol-Myers Squibb Co. | 3.550% | 3/15/42 | 3,490 | 2,770 | ||
Bristol-Myers Squibb Co. | 3.250% | 8/1/42 | 438 | 327 | ||
Bristol-Myers Squibb Co. | 4.500% | 3/1/44 | 840 | 746 | ||
Bristol-Myers Squibb Co. | 4.625% | 5/15/44 | 4,032 | 3,652 | ||
Bristol-Myers Squibb Co. | 4.350% | 11/15/47 | 5,876 | 5,064 | ||
Bristol-Myers Squibb Co. | 4.550% | 2/20/48 | 6,573 | 5,824 | ||
Bristol-Myers Squibb Co. | 4.250% | 10/26/49 | 12,212 | 10,307 | ||
Bristol-Myers Squibb Co. | 2.550% | 11/13/50 | 1,855 | 1,134 | ||
Bristol-Myers Squibb Co. | 3.700% | 3/15/52 | 6,607 | 5,079 | ||
Bristol-Myers Squibb Co. | 3.900% | 3/15/62 | 5,452 | 4,132 | ||
Cardinal Health Inc. | 4.600% | 3/15/43 | 695 | 565 | ||
Cardinal Health Inc. | 4.500% | 11/15/44 | 1,011 | 809 | ||
Cardinal Health Inc. | 4.900% | 9/15/45 | 2,108 | 1,765 | ||
Cardinal Health Inc. | 4.368% | 6/15/47 | 1,144 | 915 | ||
1 | Catholic Health Services of Long Island Obligated Group | 3.368% | 7/1/50 | 945 | 615 | |
Cencora Inc. | 4.250% | 3/1/45 | 1,173 | 949 | ||
Cencora Inc. | 4.300% | 12/15/47 | 2,820 | 2,346 | ||
Children's Health System of Texas | 2.511% | 8/15/50 | 1,530 | 916 | ||
1 | Children's Hospital | 2.928% | 7/15/50 | 1,005 | 633 | |
1 | Children's Hospital Corp. | 4.115% | 1/1/47 | 1,114 | 940 | |
1 | Children's Hospital Corp. | 2.585% | 2/1/50 | 719 | 442 | |
Children's Hospital Medical Center | 4.268% | 5/15/44 | 886 | 771 | ||
1 | Children's Hospital of Philadelphia | 2.704% | 7/1/50 | 1,252 | 794 | |
Cigna Group | 4.800% | 8/15/38 | 7,874 | 7,234 | ||
Cigna Group | 3.200% | 3/15/40 | 2,780 | 2,067 | ||
1 | Cigna Group | 6.125% | 11/15/41 | 333 | 346 | |
1 | Cigna Group | 4.800% | 7/15/46 | 4,841 | 4,286 | |
1 | Cigna Group | 3.875% | 10/15/47 | 3,333 | 2,539 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Cigna Group | 4.900% | 12/15/48 | 10,143 | 9,022 | ||
Cigna Group | 3.400% | 3/15/50 | 3,580 | 2,501 | ||
Cigna Group | 3.400% | 3/15/51 | 4,263 | 2,974 | ||
1 | City of Hope | 5.623% | 11/15/43 | 1,041 | 993 | |
1 | City of Hope | 4.378% | 8/15/48 | 1,205 | 975 | |
1 | CommonSpirit Health | 4.350% | 11/1/42 | 2,323 | 1,945 | |
CommonSpirit Health | 3.817% | 10/1/49 | 2,370 | 1,768 | ||
CommonSpirit Health | 4.187% | 10/1/49 | 2,344 | 1,869 | ||
CommonSpirit Health | 3.910% | 10/1/50 | 906 | 681 | ||
CommonSpirit Health | 6.461% | 11/1/52 | 900 | 1,003 | ||
1 | Community Health Network Inc. | 3.099% | 5/1/50 | 1,493 | 967 | |
1 | Corewell Health Obligated Group | 3.487% | 7/15/49 | 1,135 | 823 | |
1 | Cottage Health Obligated Group | 3.304% | 11/1/49 | 1,644 | 1,165 | |
CVS Health Corp. | 4.875% | 7/20/35 | 2,318 | 2,157 | ||
CVS Health Corp. | 4.780% | 3/25/38 | 17,314 | 15,517 | ||
CVS Health Corp. | 6.125% | 9/15/39 | 1,425 | 1,440 | ||
CVS Health Corp. | 4.125% | 4/1/40 | 3,176 | 2,583 | ||
CVS Health Corp. | 2.700% | 8/21/40 | 5,263 | 3,521 | ||
CVS Health Corp. | 5.300% | 12/5/43 | 2,521 | 2,307 | ||
CVS Health Corp. | 5.125% | 7/20/45 | 13,284 | 11,828 | ||
CVS Health Corp. | 5.050% | 3/25/48 | 23,948 | 21,029 | ||
CVS Health Corp. | 4.250% | 4/1/50 | 2,330 | 1,840 | ||
CVS Health Corp. | 5.625% | 2/21/53 | 5,525 | 5,230 | ||
CVS Health Corp. | 5.875% | 6/1/53 | 4,419 | 4,313 | ||
CVS Health Corp. | 6.000% | 6/1/63 | 2,417 | 2,366 | ||
Danaher Corp. | 4.375% | 9/15/45 | 1,560 | 1,376 | ||
Danaher Corp. | 2.600% | 10/1/50 | 3,365 | 2,147 | ||
Danaher Corp. | 2.800% | 12/10/51 | 3,293 | 2,167 | ||
1 | Dartmouth-Hitchcock Health | 4.178% | 8/1/48 | 625 | 484 | |
DH Europe Finance II Sarl | 3.250% | 11/15/39 | 1,950 | 1,549 | ||
DH Europe Finance II Sarl | 3.400% | 11/15/49 | 3,465 | 2,585 | ||
Dignity Health | 4.500% | 11/1/42 | 1,548 | 1,314 | ||
Dignity Health | 5.267% | 11/1/64 | 1,305 | 1,178 | ||
1 | Duke University Health System Inc. | 3.920% | 6/1/47 | 2,132 | 1,729 | |
Elevance Health Inc. | 5.950% | 12/15/34 | 1,509 | 1,545 | ||
Elevance Health Inc. | 5.850% | 1/15/36 | 253 | 255 | ||
Elevance Health Inc. | 4.625% | 5/15/42 | 3,177 | 2,821 | ||
Elevance Health Inc. | 4.650% | 1/15/43 | 3,037 | 2,698 | ||
Elevance Health Inc. | 5.100% | 1/15/44 | 4,710 | 4,339 | ||
Elevance Health Inc. | 4.650% | 8/15/44 | 2,381 | 2,077 | ||
Elevance Health Inc. | 4.375% | 12/1/47 | 3,680 | 3,104 | ||
Elevance Health Inc. | 4.550% | 3/1/48 | 4,765 | 4,100 | ||
Elevance Health Inc. | 3.700% | 9/15/49 | 4,257 | 3,173 | ||
Elevance Health Inc. | 3.125% | 5/15/50 | 3,527 | 2,379 | ||
Elevance Health Inc. | 3.600% | 3/15/51 | 4,319 | 3,166 | ||
Elevance Health Inc. | 4.550% | 5/15/52 | 444 | 382 | ||
Elevance Health Inc. | 6.100% | 10/15/52 | 1,737 | 1,841 | ||
Elevance Health Inc. | 5.125% | 2/15/53 | 3,585 | 3,357 | ||
Eli Lilly & Co. | 5.550% | 3/15/37 | 1,400 | 1,483 | ||
Eli Lilly & Co. | 3.700% | 3/1/45 | 540 | 446 | ||
Eli Lilly & Co. | 3.950% | 5/15/47 | 750 | 646 | ||
Eli Lilly & Co. | 3.950% | 3/15/49 | 1,603 | 1,379 | ||
Eli Lilly & Co. | 2.250% | 5/15/50 | 5,050 | 3,110 | ||
Eli Lilly & Co. | 4.875% | 2/27/53 | 5,215 | 5,127 | ||
Eli Lilly & Co. | 4.150% | 3/15/59 | 1,577 | 1,339 | ||
Eli Lilly & Co. | 2.500% | 9/15/60 | 1,845 | 1,098 | ||
Eli Lilly & Co. | 4.950% | 2/27/63 | 3,630 | 3,545 | ||
1 | Franciscan Missionaries of Our Lady Health System Inc. | 3.914% | 7/1/49 | 1,030 | 733 | |
1 | Fred Hutchinson Cancer Center | 4.966% | 1/1/52 | 960 | 893 | |
GE HealthCare Technologies Inc. | 6.377% | 11/22/52 | 3,600 | 3,868 | ||
Gilead Sciences Inc. | 4.600% | 9/1/35 | 4,834 | 4,591 | ||
Gilead Sciences Inc. | 4.000% | 9/1/36 | 3,454 | 3,055 | ||
Gilead Sciences Inc. | 2.600% | 10/1/40 | 4,194 | 2,920 | ||
Gilead Sciences Inc. | 5.650% | 12/1/41 | 4,953 | 5,055 | ||
Gilead Sciences Inc. | 4.800% | 4/1/44 | 6,856 | 6,303 | ||
Gilead Sciences Inc. | 4.500% | 2/1/45 | 2,346 | 2,060 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Gilead Sciences Inc. | 4.750% | 3/1/46 | 6,255 | 5,708 | ||
Gilead Sciences Inc. | 4.150% | 3/1/47 | 4,972 | 4,154 | ||
Gilead Sciences Inc. | 2.800% | 10/1/50 | 5,271 | 3,383 | ||
GlaxoSmithKline Capital Inc. | 6.375% | 5/15/38 | 9,098 | 10,356 | ||
GlaxoSmithKline Capital Inc. | 4.200% | 3/18/43 | 1,239 | 1,090 | ||
1 | Hackensack Meridian Health Inc. | 2.675% | 9/1/41 | 1,322 | 906 | |
Hackensack Meridian Health Inc. | 4.211% | 7/1/48 | 1,425 | 1,194 | ||
1 | Hackensack Meridian Health Inc. | 2.875% | 9/1/50 | 1,674 | 1,088 | |
Hackensack Meridian Health Inc. | 4.500% | 7/1/57 | 903 | 774 | ||
1 | Hartford HealthCare Corp. | 3.447% | 7/1/54 | 1,251 | 862 | |
HCA Inc. | 5.125% | 6/15/39 | 3,470 | 3,141 | ||
HCA Inc. | 4.375% | 3/15/42 | 2,300 | 1,843 | ||
HCA Inc. | 5.500% | 6/15/47 | 5,262 | 4,782 | ||
HCA Inc. | 5.250% | 6/15/49 | 6,904 | 6,024 | ||
HCA Inc. | 3.500% | 7/15/51 | 3,006 | 2,002 | ||
HCA Inc. | 4.625% | 3/15/52 | 6,497 | 5,211 | ||
HCA Inc. | 5.900% | 6/1/53 | 3,340 | 3,202 | ||
Hoag Memorial Hospital Presbyterian | 3.803% | 7/15/52 | 1,875 | 1,450 | ||
Humana Inc. | 4.625% | 12/1/42 | 1,383 | 1,193 | ||
Humana Inc. | 4.950% | 10/1/44 | 2,754 | 2,448 | ||
Humana Inc. | 4.800% | 3/15/47 | 2,250 | 1,988 | ||
Humana Inc. | 3.950% | 8/15/49 | 1,316 | 1,020 | ||
Humana Inc. | 5.500% | 3/15/53 | 2,648 | 2,555 | ||
IHC Health Services Inc. | 4.131% | 5/15/48 | 892 | 757 | ||
Indiana University Health Inc. Obligated Group | 3.970% | 11/1/48 | 1,510 | 1,225 | ||
1 | Indiana University Health Inc. Obligated Group | 2.852% | 11/1/51 | 809 | 520 | |
Inova Health System Foundation | 4.068% | 5/15/52 | 1,190 | 992 | ||
1 | Integris Baptist Medical Center Inc. | 3.875% | 8/15/50 | 1,438 | 1,048 | |
1 | Iowa Health System | 3.665% | 2/15/50 | 430 | 313 | |
Johns Hopkins Health System Corp. | 3.837% | 5/15/46 | 2,246 | 1,803 | ||
Johnson & Johnson | 4.375% | 12/5/33 | 817 | 806 | ||
Johnson & Johnson | 3.550% | 3/1/36 | 4,198 | 3,705 | ||
Johnson & Johnson | 3.625% | 3/3/37 | 4,610 | 4,081 | ||
Johnson & Johnson | 5.950% | 8/15/37 | 3,788 | 4,192 | ||
Johnson & Johnson | 3.400% | 1/15/38 | 4,388 | 3,723 | ||
Johnson & Johnson | 5.850% | 7/15/38 | 2,696 | 2,952 | ||
Johnson & Johnson | 2.100% | 9/1/40 | 1,567 | 1,071 | ||
Johnson & Johnson | 4.500% | 9/1/40 | 2,172 | 2,073 | ||
Johnson & Johnson | 4.850% | 5/15/41 | 2,172 | 2,132 | ||
Johnson & Johnson | 4.500% | 12/5/43 | 2,657 | 2,554 | ||
Johnson & Johnson | 3.700% | 3/1/46 | 8,348 | 6,932 | ||
Johnson & Johnson | 3.750% | 3/3/47 | 3,798 | 3,203 | ||
Johnson & Johnson | 3.500% | 1/15/48 | 2,245 | 1,825 | ||
Johnson & Johnson | 2.250% | 9/1/50 | 1,727 | 1,088 | ||
Johnson & Johnson | 2.450% | 9/1/60 | 2,860 | 1,756 | ||
1 | Kaiser Foundation Hospitals | 2.810% | 6/1/41 | 2,802 | 1,989 | |
Kaiser Foundation Hospitals | 4.875% | 4/1/42 | 3,250 | 3,057 | ||
Kaiser Foundation Hospitals | 4.150% | 5/1/47 | 5,075 | 4,325 | ||
1 | Kaiser Foundation Hospitals | 3.266% | 11/1/49 | 5,451 | 3,910 | |
1 | Kaiser Foundation Hospitals | 3.002% | 6/1/51 | 5,551 | 3,762 | |
Koninklijke Philips NV | 6.875% | 3/11/38 | 2,435 | 2,633 | ||
Koninklijke Philips NV | 5.000% | 3/15/42 | 1,854 | 1,644 | ||
Laboratory Corp. of America Holdings | 4.700% | 2/1/45 | 4,315 | 3,694 | ||
1 | Mass General Brigham Inc. | 3.765% | 7/1/48 | 1,270 | 997 | |
1 | Mass General Brigham Inc. | 3.192% | 7/1/49 | 1,887 | 1,337 | |
1 | Mass General Brigham Inc. | 4.117% | 7/1/55 | 999 | 809 | |
1 | Mass General Brigham Inc. | 3.342% | 7/1/60 | 2,357 | 1,615 | |
1 | Mayo Clinic | 4.000% | 11/15/47 | 1,078 | 883 | |
1 | Mayo Clinic | 4.128% | 11/15/52 | 1,245 | 1,049 | |
1 | Mayo Clinic | 3.196% | 11/15/61 | 1,854 | 1,243 | |
McKesson Corp. | 5.100% | 7/15/33 | 1,500 | 1,488 | ||
1 | McLaren Health Care Corp. | 4.386% | 5/15/48 | 493 | 412 | |
1 | MedStar Health Inc. | 3.626% | 8/15/49 | 1,130 | 819 | |
Medtronic Inc. | 4.375% | 3/15/35 | 7,865 | 7,439 | ||
Medtronic Inc. | 4.625% | 3/15/45 | 5,754 | 5,393 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Memorial Health Services | 3.447% | 11/1/49 | 1,342 | 976 | ||
Memorial Sloan-Kettering Cancer Center | 5.000% | 7/1/42 | 1,870 | 1,790 | ||
1 | Memorial Sloan-Kettering Cancer Center | 2.955% | 1/1/50 | 1,788 | 1,204 | |
Memorial Sloan-Kettering Cancer Center | 4.125% | 7/1/52 | 1,305 | 1,086 | ||
1 | Memorial Sloan-Kettering Cancer Center | 4.200% | 7/1/55 | 1,899 | 1,579 | |
Merck & Co. Inc. | 6.500% | 12/1/33 | 1,986 | 2,227 | ||
Merck & Co. Inc. | 3.900% | 3/7/39 | 5,082 | 4,440 | ||
Merck & Co. Inc. | 2.350% | 6/24/40 | 3,662 | 2,557 | ||
Merck & Co. Inc. | 3.600% | 9/15/42 | 1,438 | 1,174 | ||
Merck & Co. Inc. | 4.150% | 5/18/43 | 2,272 | 2,008 | ||
Merck & Co. Inc. | 4.900% | 5/17/44 | 2,543 | 2,466 | ||
Merck & Co. Inc. | 3.700% | 2/10/45 | 8,082 | 6,592 | ||
Merck & Co. Inc. | 4.000% | 3/7/49 | 5,157 | 4,357 | ||
Merck & Co. Inc. | 2.450% | 6/24/50 | 1,036 | 644 | ||
Merck & Co. Inc. | 2.750% | 12/10/51 | 5,469 | 3,579 | ||
Merck & Co. Inc. | 5.000% | 5/17/53 | 5,950 | 5,805 | ||
Merck & Co. Inc. | 2.900% | 12/10/61 | 5,903 | 3,703 | ||
Merck & Co. Inc. | 5.150% | 5/17/63 | 3,695 | 3,598 | ||
Merck Sharp & Dohme Corp. | 5.750% | 11/15/36 | 1,560 | 1,642 | ||
1 | Methodist Hospital | 2.705% | 12/1/50 | 2,220 | 1,394 | |
1 | Montefiore Obligated Group | 5.246% | 11/1/48 | 767 | 554 | |
Montefiore Obligated Group | 4.287% | 9/1/50 | 1,812 | 1,118 | ||
1 | Mount Sinai Hospital | 3.981% | 7/1/48 | 1,030 | 806 | |
1 | Mount Sinai Hospital | 3.737% | 7/1/49 | 1,918 | 1,415 | |
1 | Mount Sinai Hospital | 3.391% | 7/1/50 | 1,425 | 964 | |
MultiCare Health System | 2.803% | 8/15/50 | 975 | 573 | ||
Mylan Inc. | 5.400% | 11/29/43 | 510 | 425 | ||
Mylan Inc. | 5.200% | 4/15/48 | 2,737 | 2,130 | ||
1 | MyMichigan Health | 3.409% | 6/1/50 | 1,150 | 793 | |
New York & Presbyterian Hospital | 2.256% | 8/1/40 | 1,326 | 866 | ||
New York & Presbyterian Hospital | 4.024% | 8/1/45 | 1,043 | 852 | ||
New York & Presbyterian Hospital | 4.063% | 8/1/56 | 1,379 | 1,111 | ||
New York & Presbyterian Hospital | 2.606% | 8/1/60 | 843 | 470 | ||
1 | New York & Presbyterian Hospital | 3.954% | 8/1/19 | 1,628 | 1,147 | |
Northwell Healthcare Inc. | 3.979% | 11/1/46 | 911 | 695 | ||
Northwell Healthcare Inc. | 4.260% | 11/1/47 | 3,149 | 2,492 | ||
Northwell Healthcare Inc. | 3.809% | 11/1/49 | 2,578 | 1,895 | ||
1 | Northwestern Memorial Healthcare Obligated Group | 2.633% | 7/15/51 | 1,346 | 848 | |
Novant Health Inc. | 2.637% | 11/1/36 | 905 | 679 | ||
Novant Health Inc. | 3.168% | 11/1/51 | 3,518 | 2,438 | ||
Novant Health Inc. | 3.318% | 11/1/61 | 645 | 431 | ||
Novartis Capital Corp. | 3.700% | 9/21/42 | 1,926 | 1,598 | ||
Novartis Capital Corp. | 4.400% | 5/6/44 | 7,108 | 6,572 | ||
Novartis Capital Corp. | 4.000% | 11/20/45 | 4,597 | 3,953 | ||
Novartis Capital Corp. | 2.750% | 8/14/50 | 4,123 | 2,826 | ||
1 | NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery | 2.667% | 10/1/50 | 1,175 | 696 | |
1 | NYU Langone Hospitals | 5.750% | 7/1/43 | 1,190 | 1,200 | |
NYU Langone Hospitals | 4.784% | 7/1/44 | 1,052 | 917 | ||
1 | NYU Langone Hospitals | 4.368% | 7/1/47 | 2,278 | 1,913 | |
1 | NYU Langone Hospitals | 3.380% | 7/1/55 | 822 | 556 | |
OhioHealth Corp. | 2.834% | 11/15/41 | 841 | 598 | ||
1 | OhioHealth Corp. | 3.042% | 11/15/50 | 839 | 587 | |
Orlando Health Obligated Group | 4.089% | 10/1/48 | 1,187 | 962 | ||
Orlando Health Obligated Group | 3.327% | 10/1/50 | 975 | 690 | ||
1 | PeaceHealth Obligated Group | 4.787% | 11/15/48 | 1,138 | 968 | |
1 | PeaceHealth Obligated Group | 3.218% | 11/15/50 | 1,290 | 830 | |
Pfizer Inc. | 4.000% | 12/15/36 | 3,928 | 3,563 | ||
Pfizer Inc. | 4.100% | 9/15/38 | 3,707 | 3,321 | ||
Pfizer Inc. | 3.900% | 3/15/39 | 2,997 | 2,598 | ||
Pfizer Inc. | 7.200% | 3/15/39 | 6,811 | 8,226 | ||
Pfizer Inc. | 2.550% | 5/28/40 | 706 | 505 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Pfizer Inc. | 4.300% | 6/15/43 | 3,389 | 3,052 | ||
Pfizer Inc. | 4.400% | 5/15/44 | 1,793 | 1,632 | ||
Pfizer Inc. | 4.125% | 12/15/46 | 5,292 | 4,575 | ||
Pfizer Inc. | 4.200% | 9/15/48 | 3,314 | 2,925 | ||
Pfizer Inc. | 4.000% | 3/15/49 | 4,818 | 4,132 | ||
Pfizer Inc. | 2.700% | 5/28/50 | 4,196 | 2,839 | ||
Pfizer Investment Enterprises Pte. Ltd. | 5.110% | 5/19/43 | 10,480 | 10,200 | ||
Pfizer Investment Enterprises Pte. Ltd. | 5.300% | 5/19/53 | 20,926 | 20,931 | ||
Pfizer Investment Enterprises Pte. Ltd. | 5.340% | 5/19/63 | 14,188 | 13,972 | ||
Piedmont Healthcare Inc. | 2.864% | 1/1/52 | 1,285 | 807 | ||
Presbyterian Healthcare Services | 4.875% | 8/1/52 | 925 | 875 | ||
Providence St. Joseph Health Obligated Group | 5.403% | 10/1/33 | 1,875 | 1,848 | ||
1 | Providence St. Joseph Health Obligated Group | 3.744% | 10/1/47 | 1,495 | 1,084 | |
1 | Providence St. Joseph Health Obligated Group | 3.930% | 10/1/48 | 2,290 | 1,705 | |
1 | Providence St. Joseph Health Obligated Group | 2.700% | 10/1/51 | 1,577 | 921 | |
Queen's Health Systems | 4.810% | 7/1/52 | 1,035 | 949 | ||
Quest Diagnostics Inc. | 4.700% | 3/30/45 | 1,048 | 911 | ||
1 | Rady Children's Hospital-San Diego | 3.154% | 8/15/51 | 1,100 | 743 | |
Regeneron Pharmaceuticals Inc. | 2.800% | 9/15/50 | 2,398 | 1,489 | ||
Revvity Inc. | 3.625% | 3/15/51 | 284 | 196 | ||
Royalty Pharma plc | 3.300% | 9/2/40 | 3,696 | 2,542 | ||
Royalty Pharma plc | 3.550% | 9/2/50 | 4,606 | 3,004 | ||
Royalty Pharma plc | 3.350% | 9/2/51 | 947 | 587 | ||
RWJ Barnabas Health Inc. | 3.949% | 7/1/46 | 1,551 | 1,245 | ||
RWJ Barnabas Health Inc. | 3.477% | 7/1/49 | 975 | 717 | ||
1 | Seattle Children's Hospital | 2.719% | 10/1/50 | 1,285 | 812 | |
1 | Sentara Healthcare | 2.927% | 11/1/51 | 964 | 622 | |
1 | Sharp HealthCare | 2.680% | 8/1/50 | 950 | 589 | |
1 | Stanford Health Care | 3.795% | 11/15/48 | 1,735 | 1,369 | |
Stanford Health Care | 3.027% | 8/15/51 | 1,253 | 844 | ||
STERIS Irish FinCo Unltd. Co. | 3.750% | 3/15/51 | 1,417 | 1,036 | ||
Stryker Corp. | 4.100% | 4/1/43 | 1,181 | 976 | ||
Stryker Corp. | 4.375% | 5/15/44 | 1,754 | 1,505 | ||
Stryker Corp. | 4.625% | 3/15/46 | 2,873 | 2,582 | ||
Stryker Corp. | 2.900% | 6/15/50 | 2,254 | 1,499 | ||
Summa Health | 3.511% | 11/15/51 | 1,075 | 731 | ||
1 | Sutter Health | 3.161% | 8/15/40 | 990 | 728 | |
1 | Sutter Health | 4.091% | 8/15/48 | 945 | 763 | |
1 | Sutter Health | 3.361% | 8/15/50 | 1,890 | 1,321 | |
Sutter Health | 5.547% | 8/15/53 | 1,260 | 1,277 | ||
Takeda Pharmaceutical Co. Ltd. | 3.025% | 7/9/40 | 4,788 | 3,472 | ||
Takeda Pharmaceutical Co. Ltd. | 3.175% | 7/9/50 | 8,244 | 5,537 | ||
Takeda Pharmaceutical Co. Ltd. | 3.375% | 7/9/60 | 2,021 | 1,315 | ||
Texas Health Resources | 2.328% | 11/15/50 | 870 | 490 | ||
1 | Texas Health Resources | 4.330% | 11/15/55 | 461 | 394 | |
Thermo Fisher Scientific Inc. | 2.800% | 10/15/41 | 2,198 | 1,582 | ||
Thermo Fisher Scientific Inc. | 5.404% | 8/10/43 | 3,000 | 3,032 | ||
Thermo Fisher Scientific Inc. | 5.300% | 2/1/44 | 1,719 | 1,714 | ||
Thermo Fisher Scientific Inc. | 4.100% | 8/15/47 | 3,616 | 3,104 | ||
Toledo Hospital | 5.750% | 11/15/38 | 1,460 | 1,412 | ||
1 | Trinity Health Corp. | 2.632% | 12/1/40 | 1,415 | 977 | |
Trinity Health Corp. | 4.125% | 12/1/45 | 1,305 | 1,082 | ||
1 | Trinity Health Corp. | 3.434% | 12/1/48 | 760 | 568 | |
UMass Memorial Health Care Obligated Group | 5.363% | 7/1/52 | 960 | 898 | ||
UnitedHealth Group Inc. | 4.625% | 7/15/35 | 1,814 | 1,753 | ||
UnitedHealth Group Inc. | 5.800% | 3/15/36 | 2,356 | 2,494 | ||
UnitedHealth Group Inc. | 6.500% | 6/15/37 | 4,077 | 4,569 | ||
UnitedHealth Group Inc. | 6.625% | 11/15/37 | 627 | 710 | ||
UnitedHealth Group Inc. | 6.875% | 2/15/38 | 3,450 | 4,007 | ||
UnitedHealth Group Inc. | 3.500% | 8/15/39 | 2,251 | 1,839 | ||
UnitedHealth Group Inc. | 2.750% | 5/15/40 | 1,075 | 774 | ||
UnitedHealth Group Inc. | 5.700% | 10/15/40 | 3,231 | 3,342 | ||
UnitedHealth Group Inc. | 5.950% | 2/15/41 | 1,892 | 1,987 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
UnitedHealth Group Inc. | 3.050% | 5/15/41 | 1,588 | 1,185 | ||
UnitedHealth Group Inc. | 4.625% | 11/15/41 | 2,397 | 2,196 | ||
UnitedHealth Group Inc. | 4.375% | 3/15/42 | 3,088 | 2,738 | ||
UnitedHealth Group Inc. | 3.950% | 10/15/42 | 1,292 | 1,078 | ||
UnitedHealth Group Inc. | 4.250% | 3/15/43 | 955 | 833 | ||
UnitedHealth Group Inc. | 4.750% | 7/15/45 | 7,874 | 7,320 | ||
UnitedHealth Group Inc. | 4.200% | 1/15/47 | 3,150 | 2,666 | ||
UnitedHealth Group Inc. | 4.250% | 4/15/47 | 1,630 | 1,384 | ||
UnitedHealth Group Inc. | 3.750% | 10/15/47 | 2,087 | 1,645 | ||
UnitedHealth Group Inc. | 4.250% | 6/15/48 | 3,792 | 3,210 | ||
UnitedHealth Group Inc. | 4.450% | 12/15/48 | 5,745 | 5,033 | ||
UnitedHealth Group Inc. | 3.700% | 8/15/49 | 3,503 | 2,711 | ||
UnitedHealth Group Inc. | 2.900% | 5/15/50 | 496 | 330 | ||
UnitedHealth Group Inc. | 3.250% | 5/15/51 | 2,933 | 2,080 | ||
UnitedHealth Group Inc. | 4.750% | 5/15/52 | 8,419 | 7,669 | ||
UnitedHealth Group Inc. | 5.875% | 2/15/53 | 8,749 | 9,345 | ||
UnitedHealth Group Inc. | 5.050% | 4/15/53 | 6,321 | 6,033 | ||
UnitedHealth Group Inc. | 3.875% | 8/15/59 | 2,816 | 2,169 | ||
UnitedHealth Group Inc. | 3.125% | 5/15/60 | 891 | 586 | ||
UnitedHealth Group Inc. | 4.950% | 5/15/62 | 6,884 | 6,330 | ||
UnitedHealth Group Inc. | 6.050% | 2/15/63 | 6,107 | 6,643 | ||
UnitedHealth Group Inc. | 5.200% | 4/15/63 | 6,593 | 6,308 | ||
UPMC | 5.035% | 5/15/33 | 1,500 | 1,472 | ||
UPMC | 5.377% | 5/15/43 | 1,050 | 1,016 | ||
Utah Acquisition Sub Inc. | 5.250% | 6/15/46 | 4,098 | 3,242 | ||
Viatris Inc. | 3.850% | 6/22/40 | 4,040 | 2,826 | ||
Viatris Inc. | 4.000% | 6/22/50 | 6,223 | 4,118 | ||
1 | WakeMed | 3.286% | 10/1/52 | 482 | 323 | |
1 | West Virginia United Health System Obligated Group | 3.129% | 6/1/50 | 1,075 | 671 | |
1 | Willis-Knighton Medical Center | 4.813% | 9/1/48 | 965 | 824 | |
1 | Willis-Knighton Medical Center | 3.065% | 3/1/51 | 1,330 | 809 | |
Wyeth LLC | 6.500% | 2/1/34 | 1,152 | 1,284 | ||
Wyeth LLC | 6.000% | 2/15/36 | 1,649 | 1,769 | ||
Wyeth LLC | 5.950% | 4/1/37 | 7,277 | 7,787 | ||
1 | Yale-New Haven Health Services Corp. | 2.496% | 7/1/50 | 1,338 | 765 | |
Zimmer Biomet Holdings Inc. | 5.750% | 11/30/39 | 1,342 | 1,292 | ||
Zimmer Biomet Holdings Inc. | 4.450% | 8/15/45 | 380 | 315 | ||
Zoetis Inc. | 4.700% | 2/1/43 | 4,490 | 4,059 | ||
Zoetis Inc. | 3.950% | 9/12/47 | 1,907 | 1,524 | ||
Zoetis Inc. | 4.450% | 8/20/48 | 1,311 | 1,132 | ||
Zoetis Inc. | 3.000% | 5/15/50 | 1,605 | 1,092 | ||
1,091,441 | ||||||
Industrials (8.5%) | ||||||
1 | 3M Co. | 5.700% | 3/15/37 | 1,317 | 1,397 | |
1 | 3M Co. | 3.875% | 6/15/44 | 565 | 447 | |
1 | 3M Co. | 3.125% | 9/19/46 | 735 | 498 | |
1 | 3M Co. | 3.625% | 10/15/47 | 3,679 | 2,748 | |
1 | 3M Co. | 4.000% | 9/14/48 | 3,393 | 2,752 | |
3M Co. | 3.250% | 8/26/49 | 2,368 | 1,639 | ||
3M Co. | 3.700% | 4/15/50 | 789 | 605 | ||
ABB Finance USA Inc. | 4.375% | 5/8/42 | 1,794 | 1,534 | ||
1 | American Airlines Pass-Through Trust Class A Series 2021-1 | 2.875% | 7/11/34 | 1,656 | 1,367 | |
Boeing Co. | 6.125% | 2/15/33 | 324 | 335 | ||
Boeing Co. | 3.600% | 5/1/34 | 1,686 | 1,428 | ||
Boeing Co. | 3.250% | 2/1/35 | 2,253 | 1,808 | ||
Boeing Co. | 6.625% | 2/15/38 | 1,195 | 1,255 | ||
Boeing Co. | 3.550% | 3/1/38 | 922 | 707 | ||
Boeing Co. | 3.500% | 3/1/39 | 991 | 745 | ||
Boeing Co. | 6.875% | 3/15/39 | 774 | 852 | ||
Boeing Co. | 5.875% | 2/15/40 | 1,711 | 1,701 | ||
Boeing Co. | 5.705% | 5/1/40 | 9,503 | 9,231 | ||
Boeing Co. | 3.650% | 3/1/47 | 1,066 | 748 | ||
Boeing Co. | 3.625% | 3/1/48 | 591 | 412 | ||
Boeing Co. | 3.850% | 11/1/48 | 597 | 435 | ||
Boeing Co. | 3.900% | 5/1/49 | 2,349 | 1,758 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Boeing Co. | 3.750% | 2/1/50 | 5,483 | 3,998 | ||
Boeing Co. | 5.805% | 5/1/50 | 18,203 | 17,716 | ||
Boeing Co. | 3.825% | 3/1/59 | 760 | 523 | ||
Boeing Co. | 3.950% | 8/1/59 | 3,827 | 2,729 | ||
Boeing Co. | 5.930% | 5/1/60 | 13,717 | 13,251 | ||
Burlington Northern Santa Fe LLC | 6.200% | 8/15/36 | 979 | 1,072 | ||
Burlington Northern Santa Fe LLC | 6.150% | 5/1/37 | 1,386 | 1,508 | ||
Burlington Northern Santa Fe LLC | 5.750% | 5/1/40 | 1,657 | 1,729 | ||
Burlington Northern Santa Fe LLC | 5.050% | 3/1/41 | 1,024 | 990 | ||
Burlington Northern Santa Fe LLC | 5.400% | 6/1/41 | 941 | 940 | ||
Burlington Northern Santa Fe LLC | 4.950% | 9/15/41 | 1,111 | 1,058 | ||
Burlington Northern Santa Fe LLC | 4.400% | 3/15/42 | 1,722 | 1,519 | ||
Burlington Northern Santa Fe LLC | 4.450% | 3/15/43 | 3,809 | 3,375 | ||
Burlington Northern Santa Fe LLC | 5.150% | 9/1/43 | 2,792 | 2,705 | ||
Burlington Northern Santa Fe LLC | 4.900% | 4/1/44 | 4,673 | 4,389 | ||
Burlington Northern Santa Fe LLC | 4.550% | 9/1/44 | 2,712 | 2,428 | ||
Burlington Northern Santa Fe LLC | 4.150% | 4/1/45 | 3,669 | 3,098 | ||
Burlington Northern Santa Fe LLC | 4.700% | 9/1/45 | 1,920 | 1,736 | ||
Burlington Northern Santa Fe LLC | 3.900% | 8/1/46 | 3,305 | 2,645 | ||
Burlington Northern Santa Fe LLC | 4.125% | 6/15/47 | 3,010 | 2,501 | ||
Burlington Northern Santa Fe LLC | 4.050% | 6/15/48 | 925 | 759 | ||
Burlington Northern Santa Fe LLC | 4.150% | 12/15/48 | 75 | 63 | ||
Burlington Northern Santa Fe LLC | 3.550% | 2/15/50 | 3,075 | 2,347 | ||
Burlington Northern Santa Fe LLC | 3.050% | 2/15/51 | 4,071 | 2,778 | ||
Burlington Northern Santa Fe LLC | 3.300% | 9/15/51 | 5,415 | 3,887 | ||
Burlington Northern Santa Fe LLC | 2.875% | 6/15/52 | 1,180 | 778 | ||
Burlington Northern Santa Fe LLC | 4.450% | 1/15/53 | 5,124 | 4,553 | ||
Burlington Northern Santa Fe LLC | 5.200% | 4/15/54 | 6,160 | 6,062 | ||
Canadian National Railway Co. | 6.250% | 8/1/34 | 1,198 | 1,300 | ||
Canadian National Railway Co. | 6.200% | 6/1/36 | 2,340 | 2,545 | ||
Canadian National Railway Co. | 6.375% | 11/15/37 | 2,206 | 2,410 | ||
Canadian National Railway Co. | 4.500% | 11/7/43 | 200 | 170 | ||
Canadian National Railway Co. | 3.200% | 8/2/46 | 1,571 | 1,132 | ||
Canadian National Railway Co. | 3.650% | 2/3/48 | 1,577 | 1,238 | ||
Canadian National Railway Co. | 4.450% | 1/20/49 | 2,296 | 2,014 | ||
Canadian National Railway Co. | 2.450% | 5/1/50 | 1,025 | 628 | ||
Canadian National Railway Co. | 4.400% | 8/5/52 | 2,328 | 2,058 | ||
Canadian Pacific Railway Co. | 4.800% | 9/15/35 | 991 | 953 | ||
Canadian Pacific Railway Co. | 5.950% | 5/15/37 | 1,519 | 1,576 | ||
Canadian Pacific Railway Co. | 3.000% | 12/2/41 | 3,522 | 2,921 | ||
Canadian Pacific Railway Co. | 4.300% | 5/15/43 | 753 | 637 | ||
Canadian Pacific Railway Co. | 4.800% | 8/1/45 | 2,790 | 2,499 | ||
Canadian Pacific Railway Co. | 4.950% | 8/15/45 | 898 | 820 | ||
Canadian Pacific Railway Co. | 4.700% | 5/1/48 | 1,570 | 1,375 | ||
Canadian Pacific Railway Co. | 3.500% | 5/1/50 | 1,155 | 848 | ||
Canadian Pacific Railway Co. | 3.100% | 12/2/51 | 6,558 | 4,447 | ||
Canadian Pacific Railway Co. | 4.200% | 11/15/69 | 2,822 | 2,180 | ||
Canadian Pacific Railway Co. | 6.125% | 9/15/15 | 1,345 | 1,394 | ||
Carrier Global Corp. | 3.377% | 4/5/40 | 3,015 | 2,266 | ||
Carrier Global Corp. | 3.577% | 4/5/50 | 6,773 | 4,841 | ||
Caterpillar Inc. | 6.050% | 8/15/36 | 995 | 1,091 | ||
Caterpillar Inc. | 5.200% | 5/27/41 | 1,971 | 1,996 | ||
Caterpillar Inc. | 3.803% | 8/15/42 | 5,078 | 4,304 | ||
Caterpillar Inc. | 4.300% | 5/15/44 | 1,440 | 1,294 | ||
Caterpillar Inc. | 3.250% | 9/19/49 | 6,627 | 4,997 | ||
Caterpillar Inc. | 3.250% | 4/9/50 | 4,838 | 3,660 | ||
Caterpillar Inc. | 4.750% | 5/15/64 | 1,729 | 1,598 | ||
CSX Corp. | 6.000% | 10/1/36 | 365 | 382 | ||
CSX Corp. | 6.150% | 5/1/37 | 3,089 | 3,294 | ||
CSX Corp. | 6.220% | 4/30/40 | 889 | 954 | ||
CSX Corp. | 5.500% | 4/15/41 | 1,581 | 1,574 | ||
CSX Corp. | 4.750% | 5/30/42 | 1,626 | 1,471 | ||
CSX Corp. | 4.400% | 3/1/43 | 717 | 615 | ||
CSX Corp. | 4.100% | 3/15/44 | 3,512 | 2,920 | ||
CSX Corp. | 3.800% | 11/1/46 | 2,748 | 2,146 | ||
CSX Corp. | 4.300% | 3/1/48 | 3,892 | 3,280 | ||
CSX Corp. | 4.750% | 11/15/48 | 2,539 | 2,268 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
CSX Corp. | 4.500% | 3/15/49 | 1,331 | 1,152 | ||
CSX Corp. | 3.350% | 9/15/49 | 3,561 | 2,526 | ||
CSX Corp. | 3.800% | 4/15/50 | 2,609 | 2,021 | ||
CSX Corp. | 3.950% | 5/1/50 | 584 | 464 | ||
CSX Corp. | 2.500% | 5/15/51 | 1,015 | 614 | ||
CSX Corp. | 4.500% | 11/15/52 | 3,873 | 3,367 | ||
CSX Corp. | 4.500% | 8/1/54 | 1,686 | 1,446 | ||
CSX Corp. | 4.250% | 11/1/66 | 2,391 | 1,912 | ||
CSX Corp. | 4.650% | 3/1/68 | 1,575 | 1,354 | ||
Cummins Inc. | 4.875% | 10/1/43 | 1,148 | 1,052 | ||
Cummins Inc. | 2.600% | 9/1/50 | 2,104 | 1,302 | ||
Deere & Co. | 3.900% | 6/9/42 | 5,557 | 4,875 | ||
Deere & Co. | 2.875% | 9/7/49 | 1,251 | 905 | ||
Deere & Co. | 3.750% | 4/15/50 | 2,578 | 2,202 | ||
Dover Corp. | 5.375% | 10/15/35 | 520 | 523 | ||
Dover Corp. | 5.375% | 3/1/41 | 1,195 | 1,141 | ||
Eaton Corp. | 4.150% | 11/2/42 | 5,748 | 4,997 | ||
Eaton Corp. | 3.915% | 9/15/47 | 506 | 414 | ||
Eaton Corp. | 4.700% | 8/23/52 | 3,316 | 3,083 | ||
Emerson Electric Co. | 5.250% | 11/15/39 | 1,185 | 1,184 | ||
Emerson Electric Co. | 2.750% | 10/15/50 | 3,160 | 2,016 | ||
Emerson Electric Co. | 2.800% | 12/21/51 | 1,309 | 846 | ||
FedEx Corp. | 4.900% | 1/15/34 | 1,237 | 1,196 | ||
FedEx Corp. | 3.900% | 2/1/35 | 1,973 | 1,716 | ||
FedEx Corp. | 3.250% | 5/15/41 | 2,123 | 1,544 | ||
FedEx Corp. | 3.875% | 8/1/42 | 1,006 | 800 | ||
FedEx Corp. | 4.100% | 4/15/43 | 1,154 | 916 | ||
FedEx Corp. | 5.100% | 1/15/44 | 2,841 | 2,580 | ||
FedEx Corp. | 4.100% | 2/1/45 | 1,300 | 1,026 | ||
FedEx Corp. | 4.750% | 11/15/45 | 4,351 | 3,742 | ||
FedEx Corp. | 4.550% | 4/1/46 | 4,225 | 3,531 | ||
FedEx Corp. | 4.400% | 1/15/47 | 821 | 675 | ||
FedEx Corp. | 4.050% | 2/15/48 | 3,534 | 2,753 | ||
FedEx Corp. | 4.950% | 10/17/48 | 3,786 | 3,378 | ||
FedEx Corp. | 5.250% | 5/15/50 | 5,436 | 5,049 | ||
1 | FedEx Corp. Pass-Through Trust Class AA Series 2020-1 | 1.875% | 2/20/34 | 1,116 | 900 | |
Fortive Corp. | 4.300% | 6/15/46 | 1,778 | 1,405 | ||
GE Capital International Funding Co. Unlimited Co. | 4.418% | 11/15/35 | 5,515 | 5,111 | ||
General Dynamics Corp. | 4.250% | 4/1/40 | 4,688 | 4,181 | ||
General Dynamics Corp. | 2.850% | 6/1/41 | 1,565 | 1,142 | ||
General Dynamics Corp. | 3.600% | 11/15/42 | 1,582 | 1,270 | ||
General Dynamics Corp. | 4.250% | 4/1/50 | 2,384 | 2,096 | ||
1 | General Electric Co. | 5.875% | 1/14/38 | 1,660 | 1,743 | |
1 | General Electric Co. | 6.875% | 1/10/39 | 2,189 | 2,544 | |
General Electric Co. | 4.500% | 3/11/44 | 1,280 | 1,120 | ||
General Electric Co. | 4.350% | 5/1/50 | 1,216 | 1,011 | ||
Honeywell International Inc. | 4.500% | 1/15/34 | 2,775 | 2,681 | ||
Honeywell International Inc. | 5.700% | 3/15/36 | 1,057 | 1,108 | ||
Honeywell International Inc. | 5.700% | 3/15/37 | 1,120 | 1,169 | ||
Honeywell International Inc. | 5.375% | 3/1/41 | 1,746 | 1,762 | ||
Honeywell International Inc. | 3.812% | 11/21/47 | 3,464 | 2,815 | ||
Illinois Tool Works Inc. | 4.875% | 9/15/41 | 2,049 | 1,987 | ||
Illinois Tool Works Inc. | 3.900% | 9/1/42 | 2,550 | 2,199 | ||
Jacobs Engineering Group Inc. | 5.900% | 3/1/33 | 519 | 513 | ||
1 | Johnson Controls International plc | 6.000% | 1/15/36 | 1,500 | 1,543 | |
1 | Johnson Controls International plc | 4.625% | 7/2/44 | 2,790 | 2,403 | |
Johnson Controls International plc | 4.500% | 2/15/47 | 1,455 | 1,228 | ||
1 | Johnson Controls International plc | 4.950% | 7/2/64 | 834 | 717 | |
L3Harris Technologies Inc. | 4.854% | 4/27/35 | 2,251 | 2,122 | ||
L3Harris Technologies Inc. | 6.150% | 12/15/40 | 710 | 731 | ||
L3Harris Technologies Inc. | 5.600% | 7/31/53 | 2,005 | 2,012 | ||
Lockheed Martin Corp. | 4.750% | 2/15/34 | 2,040 | 2,013 | ||
Lockheed Martin Corp. | 3.600% | 3/1/35 | 2,298 | 2,022 | ||
Lockheed Martin Corp. | 4.500% | 5/15/36 | 2,607 | 2,474 | ||
1 | Lockheed Martin Corp. | 6.150% | 9/1/36 | 1,832 | 1,998 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Lockheed Martin Corp. | 5.720% | 6/1/40 | 1,064 | 1,121 | ||
Lockheed Martin Corp. | 4.850% | 9/15/41 | 330 | 304 | ||
Lockheed Martin Corp. | 4.070% | 12/15/42 | 5,155 | 4,474 | ||
Lockheed Martin Corp. | 3.800% | 3/1/45 | 3,282 | 2,684 | ||
Lockheed Martin Corp. | 4.700% | 5/15/46 | 1,488 | 1,392 | ||
Lockheed Martin Corp. | 2.800% | 6/15/50 | 1,440 | 969 | ||
Lockheed Martin Corp. | 4.090% | 9/15/52 | 5,242 | 4,421 | ||
Lockheed Martin Corp. | 4.150% | 6/15/53 | 2,937 | 2,477 | ||
Lockheed Martin Corp. | 5.700% | 11/15/54 | 4,173 | 4,474 | ||
Lockheed Martin Corp. | 5.200% | 2/15/55 | 1,790 | 1,781 | ||
Lockheed Martin Corp. | 4.300% | 6/15/62 | 2,114 | 1,791 | ||
Lockheed Martin Corp. | 5.900% | 11/15/63 | 3,595 | 3,944 | ||
1 | Nature Conservancy | 3.957% | 3/1/52 | 1,125 | 919 | |
Norfolk Southern Corp. | 4.837% | 10/1/41 | 1,748 | 1,589 | ||
Norfolk Southern Corp. | 3.950% | 10/1/42 | 1,395 | 1,120 | ||
Norfolk Southern Corp. | 4.650% | 1/15/46 | 500 | 434 | ||
Norfolk Southern Corp. | 3.942% | 11/1/47 | 1,915 | 1,514 | ||
Norfolk Southern Corp. | 4.150% | 2/28/48 | 1,730 | 1,419 | ||
Norfolk Southern Corp. | 4.100% | 5/15/49 | 2,345 | 1,903 | ||
Norfolk Southern Corp. | 3.400% | 11/1/49 | 3,096 | 2,191 | ||
Norfolk Southern Corp. | 3.050% | 5/15/50 | 5,784 | 3,847 | ||
Norfolk Southern Corp. | 4.050% | 8/15/52 | 3,812 | 3,025 | ||
Norfolk Southern Corp. | 3.700% | 3/15/53 | 1,367 | 1,016 | ||
Norfolk Southern Corp. | 4.550% | 6/1/53 | 4,665 | 4,032 | ||
Norfolk Southern Corp. | 5.350% | 8/1/54 | 4,000 | 3,891 | ||
Norfolk Southern Corp. | 3.155% | 5/15/55 | 2,095 | 1,377 | ||
Norfolk Southern Corp. | 4.100% | 5/15/21 | 1,945 | 1,365 | ||
Northrop Grumman Corp. | 5.150% | 5/1/40 | 1,717 | 1,646 | ||
Northrop Grumman Corp. | 5.050% | 11/15/40 | 1,351 | 1,278 | ||
Northrop Grumman Corp. | 4.750% | 6/1/43 | 3,386 | 3,076 | ||
Northrop Grumman Corp. | 3.850% | 4/15/45 | 1,345 | 1,066 | ||
Northrop Grumman Corp. | 4.030% | 10/15/47 | 7,488 | 6,158 | ||
Northrop Grumman Corp. | 5.250% | 5/1/50 | 2,898 | 2,841 | ||
Northrop Grumman Corp. | 4.950% | 3/15/53 | 3,910 | 3,664 | ||
nVent Finance Sarl | 5.650% | 5/15/33 | 1,500 | 1,451 | ||
Otis Worldwide Corp. | 3.112% | 2/15/40 | 2,386 | 1,795 | ||
Otis Worldwide Corp. | 3.362% | 2/15/50 | 2,338 | 1,682 | ||
1 | Parker-Hannifin Corp. | 4.200% | 11/21/34 | 1,298 | 1,175 | |
1 | Parker-Hannifin Corp. | 6.250% | 5/15/38 | 1,216 | 1,284 | |
1 | Parker-Hannifin Corp. | 4.450% | 11/21/44 | 1,885 | 1,626 | |
Parker-Hannifin Corp. | 4.100% | 3/1/47 | 1,963 | 1,617 | ||
Parker-Hannifin Corp. | 4.000% | 6/14/49 | 3,291 | 2,665 | ||
Precision Castparts Corp. | 3.900% | 1/15/43 | 1,316 | 1,084 | ||
Precision Castparts Corp. | 4.375% | 6/15/45 | 1,238 | 1,072 | ||
2 | Regal Rexnord Corp. | 6.400% | 4/15/33 | 3,250 | 3,214 | |
Republic Services Inc. | 5.000% | 4/1/34 | 3,660 | 3,594 | ||
Republic Services Inc. | 6.200% | 3/1/40 | 665 | 705 | ||
Republic Services Inc. | 5.700% | 5/15/41 | 1,997 | 2,043 | ||
Republic Services Inc. | 3.050% | 3/1/50 | 1,603 | 1,092 | ||
Rockwell Automation Inc. | 4.200% | 3/1/49 | 1,159 | 1,003 | ||
Rockwell Automation Inc. | 2.800% | 8/15/61 | 1,110 | 685 | ||
RTX Corp. | 5.400% | 5/1/35 | 209 | 209 | ||
RTX Corp. | 6.050% | 6/1/36 | 2,572 | 2,687 | ||
RTX Corp. | 6.125% | 7/15/38 | 1,824 | 1,908 | ||
RTX Corp. | 4.450% | 11/16/38 | 4,087 | 3,620 | ||
RTX Corp. | 4.875% | 10/15/40 | 1,698 | 1,550 | ||
RTX Corp. | 4.700% | 12/15/41 | 1,579 | 1,403 | ||
RTX Corp. | 4.500% | 6/1/42 | 11,232 | 9,800 | ||
RTX Corp. | 4.800% | 12/15/43 | 3,668 | 3,254 | ||
RTX Corp. | 4.150% | 5/15/45 | 2,244 | 1,822 | ||
RTX Corp. | 3.750% | 11/1/46 | 3,023 | 2,293 | ||
RTX Corp. | 4.350% | 4/15/47 | 5,166 | 4,344 | ||
RTX Corp. | 4.050% | 5/4/47 | 1,171 | 942 | ||
RTX Corp. | 4.625% | 11/16/48 | 3,847 | 3,381 | ||
RTX Corp. | 3.125% | 7/1/50 | 2,130 | 1,442 | ||
RTX Corp. | 2.820% | 9/1/51 | 3,759 | 2,346 | ||
RTX Corp. | 3.030% | 3/15/52 | 2,685 | 1,760 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
RTX Corp. | 5.375% | 2/27/53 | 6,011 | 5,850 | ||
Trane Technologies Global Holding Co. Ltd. | 5.750% | 6/15/43 | 1,568 | 1,565 | ||
Trane Technologies Global Holding Co. Ltd. | 4.300% | 2/21/48 | 1,555 | 1,284 | ||
Trane Technologies Luxembourg Finance SA | 4.650% | 11/1/44 | 1,176 | 1,006 | ||
Trane Technologies Luxembourg Finance SA | 4.500% | 3/21/49 | 1,047 | 897 | ||
Tyco Electronics Group SA | 7.125% | 10/1/37 | 2,295 | 2,610 | ||
Union Pacific Corp. | 3.375% | 2/1/35 | 2,516 | 2,125 | ||
Union Pacific Corp. | 2.891% | 4/6/36 | 2,018 | 1,592 | ||
Union Pacific Corp. | 3.600% | 9/15/37 | 2,491 | 2,083 | ||
1 | Union Pacific Corp. | 3.550% | 8/15/39 | 1,363 | 1,105 | |
Union Pacific Corp. | 3.200% | 5/20/41 | 5,050 | 3,848 | ||
Union Pacific Corp. | 3.375% | 2/14/42 | 210 | 164 | ||
Union Pacific Corp. | 4.050% | 3/1/46 | 928 | 756 | ||
Union Pacific Corp. | 3.350% | 8/15/46 | 1,665 | 1,187 | ||
Union Pacific Corp. | 4.000% | 4/15/47 | 3,044 | 2,456 | ||
Union Pacific Corp. | 3.250% | 2/5/50 | 6,560 | 4,725 | ||
Union Pacific Corp. | 3.799% | 10/1/51 | 5,134 | 4,051 | ||
Union Pacific Corp. | 2.950% | 3/10/52 | 444 | 296 | ||
Union Pacific Corp. | 4.950% | 9/9/52 | 3,355 | 3,238 | ||
Union Pacific Corp. | 3.500% | 2/14/53 | 2,617 | 1,945 | ||
Union Pacific Corp. | 4.950% | 5/15/53 | 4,275 | 4,097 | ||
Union Pacific Corp. | 3.875% | 2/1/55 | 1,040 | 809 | ||
Union Pacific Corp. | 3.950% | 8/15/59 | 1,268 | 980 | ||
Union Pacific Corp. | 3.839% | 3/20/60 | 6,145 | 4,707 | ||
Union Pacific Corp. | 3.550% | 5/20/61 | 1,575 | 1,116 | ||
Union Pacific Corp. | 2.973% | 9/16/62 | 2,943 | 1,811 | ||
Union Pacific Corp. | 5.150% | 1/20/63 | 2,917 | 2,794 | ||
Union Pacific Corp. | 4.100% | 9/15/67 | 1,990 | 1,577 | ||
Union Pacific Corp. | 3.750% | 2/5/70 | 2,246 | 1,636 | ||
Union Pacific Corp. | 3.799% | 4/6/71 | 2,630 | 1,922 | ||
Union Pacific Corp. | 3.850% | 2/14/72 | 1,961 | 1,451 | ||
1 | United Airlines Pass-Through Trust Class A Series 2023-1 | 5.800% | 1/15/36 | 4,200 | 4,187 | |
United Parcel Service Inc. | 6.200% | 1/15/38 | 6,078 | 6,789 | ||
United Parcel Service Inc. | 5.200% | 4/1/40 | 2,839 | 2,827 | ||
United Parcel Service Inc. | 4.875% | 11/15/40 | 1,282 | 1,236 | ||
United Parcel Service Inc. | 3.625% | 10/1/42 | 1,395 | 1,133 | ||
United Parcel Service Inc. | 3.400% | 11/15/46 | 700 | 523 | ||
United Parcel Service Inc. | 3.750% | 11/15/47 | 1,919 | 1,549 | ||
United Parcel Service Inc. | 4.250% | 3/15/49 | 2,619 | 2,257 | ||
United Parcel Service Inc. | 3.400% | 9/1/49 | 1,749 | 1,332 | ||
United Parcel Service Inc. | 5.300% | 4/1/50 | 3,625 | 3,666 | ||
United Parcel Service Inc. | 5.050% | 3/3/53 | 4,503 | 4,397 | ||
Valmont Industries Inc. | 5.000% | 10/1/44 | 1,195 | 1,019 | ||
Valmont Industries Inc. | 5.250% | 10/1/54 | 1,228 | 1,050 | ||
Waste Connections Inc. | 3.050% | 4/1/50 | 1,862 | 1,259 | ||
Waste Connections Inc. | 2.950% | 1/15/52 | 3,094 | 2,025 | ||
Waste Management Inc. | 4.875% | 2/15/34 | 4,145 | 4,047 | ||
Waste Management Inc. | 2.950% | 6/1/41 | 2,238 | 1,613 | ||
Waste Management Inc. | 4.150% | 7/15/49 | 2,526 | 2,125 | ||
Waste Management Inc. | 2.500% | 11/15/50 | 500 | 306 | ||
WW Grainger Inc. | 4.600% | 6/15/45 | 3,594 | 3,293 | ||
WW Grainger Inc. | 3.750% | 5/15/46 | 1,481 | 1,176 | ||
WW Grainger Inc. | 4.200% | 5/15/47 | 1,030 | 892 | ||
Xylem Inc. | 4.375% | 11/1/46 | 1,303 | 1,056 | ||
593,148 | ||||||
Materials (3.5%) | ||||||
Air Products and Chemicals Inc. | 2.700% | 5/15/40 | 3,758 | 2,735 | ||
Air Products and Chemicals Inc. | 2.800% | 5/15/50 | 4,315 | 2,936 | ||
Albemarle Corp. | 5.450% | 12/1/44 | 1,260 | 1,158 | ||
Albemarle Corp. | 5.650% | 6/1/52 | 1,790 | 1,623 | ||
ArcelorMittal SA | 7.000% | 10/15/39 | 1,282 | 1,320 | ||
ArcelorMittal SA | 6.750% | 3/1/41 | 2,190 | 2,179 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Barrick Gold Corp. | 6.450% | 10/15/35 | 444 | 465 | ||
Barrick North America Finance LLC | 5.700% | 5/30/41 | 2,380 | 2,367 | ||
Barrick North America Finance LLC | 5.750% | 5/1/43 | 3,210 | 3,206 | ||
Barrick PD Australia Finance Pty Ltd. | 5.950% | 10/15/39 | 5,184 | 5,268 | ||
BHP Billiton Finance USA Ltd. | 4.125% | 2/24/42 | 4,207 | 3,676 | ||
BHP Billiton Finance USA Ltd. | 5.000% | 9/30/43 | 7,886 | 7,626 | ||
Celanese US Holdings LLC | 6.700% | 11/15/33 | 3,200 | 3,214 | ||
Celulosa Arauco y Constitucion SA | 5.500% | 11/2/47 | 1,263 | 1,057 | ||
CF Industries Inc. | 5.150% | 3/15/34 | 2,505 | 2,365 | ||
CF Industries Inc. | 4.950% | 6/1/43 | 2,697 | 2,275 | ||
CF Industries Inc. | 5.375% | 3/15/44 | 2,376 | 2,108 | ||
Dow Chemical Co. | 4.250% | 10/1/34 | 1,834 | 1,653 | ||
Dow Chemical Co. | 9.400% | 5/15/39 | 977 | 1,290 | ||
Dow Chemical Co. | 5.250% | 11/15/41 | 3,921 | 3,660 | ||
Dow Chemical Co. | 4.375% | 11/15/42 | 4,956 | 4,085 | ||
Dow Chemical Co. | 4.625% | 10/1/44 | 1,500 | 1,259 | ||
Dow Chemical Co. | 5.550% | 11/30/48 | 3,441 | 3,267 | ||
Dow Chemical Co. | 4.800% | 5/15/49 | 4,049 | 3,435 | ||
Dow Chemical Co. | 3.600% | 11/15/50 | 787 | 562 | ||
Dow Chemical Co. | 6.900% | 5/15/53 | 2,833 | 3,153 | ||
DuPont de Nemours Inc. | 5.319% | 11/15/38 | 4,687 | 4,588 | ||
DuPont de Nemours Inc. | 5.419% | 11/15/48 | 4,975 | 4,813 | ||
Eastman Chemical Co. | 4.800% | 9/1/42 | 1,257 | 1,065 | ||
Eastman Chemical Co. | 4.650% | 10/15/44 | 5,239 | 4,265 | ||
Ecolab Inc. | 2.125% | 8/15/50 | 1,658 | 942 | ||
Ecolab Inc. | 2.700% | 12/15/51 | 4,150 | 2,618 | ||
Ecolab Inc. | 2.750% | 8/18/55 | 2,475 | 1,516 | ||
FMC Corp. | 4.500% | 10/1/49 | 3,772 | 2,811 | ||
FMC Corp. | 6.375% | 5/18/53 | 1,187 | 1,138 | ||
Freeport-McMoRan Inc. | 5.400% | 11/14/34 | 2,951 | 2,795 | ||
Freeport-McMoRan Inc. | 5.450% | 3/15/43 | 5,475 | 4,906 | ||
International Flavors & Fragrances Inc. | 4.375% | 6/1/47 | 1,323 | 948 | ||
International Flavors & Fragrances Inc. | 5.000% | 9/26/48 | 1,634 | 1,299 | ||
International Paper Co. | 5.000% | 9/15/35 | 2,606 | 2,510 | ||
International Paper Co. | 6.000% | 11/15/41 | 2,249 | 2,278 | ||
International Paper Co. | 4.800% | 6/15/44 | 1,449 | 1,247 | ||
International Paper Co. | 4.400% | 8/15/47 | 925 | 753 | ||
International Paper Co. | 4.350% | 8/15/48 | 1,915 | 1,575 | ||
Lafarge SA | 7.125% | 7/15/36 | 760 | 831 | ||
Linde Inc. | 3.550% | 11/7/42 | 1,425 | 1,123 | ||
Linde Inc. | 2.000% | 8/10/50 | 1,166 | 641 | ||
Lubrizol Corp. | 6.500% | 10/1/34 | 960 | 1,109 | ||
LYB International Finance BV | 5.250% | 7/15/43 | 2,070 | 1,842 | ||
LYB International Finance BV | 4.875% | 3/15/44 | 855 | 723 | ||
LYB International Finance III LLC | 3.375% | 10/1/40 | 4,444 | 3,193 | ||
LYB International Finance III LLC | 4.200% | 10/15/49 | 4,211 | 3,133 | ||
LYB International Finance III LLC | 4.200% | 5/1/50 | 6,122 | 4,540 | ||
LYB International Finance III LLC | 3.625% | 4/1/51 | 2,302 | 1,550 | ||
LYB International Finance III LLC | 3.800% | 10/1/60 | 2,441 | 1,594 | ||
LyondellBasell Industries NV | 4.625% | 2/26/55 | 1,801 | 1,414 | ||
Martin Marietta Materials Inc. | 4.250% | 12/15/47 | 2,178 | 1,768 | ||
Martin Marietta Materials Inc. | 3.200% | 7/15/51 | 2,340 | 1,566 | ||
Mosaic Co. | 5.450% | 11/15/33 | 851 | 828 | ||
Mosaic Co. | 4.875% | 11/15/41 | 2,669 | 2,234 | ||
Mosaic Co. | 5.625% | 11/15/43 | 1,636 | 1,511 | ||
1 | Newmont Corp. | 5.875% | 4/1/35 | 1,994 | 2,013 | |
Newmont Corp. | 6.250% | 10/1/39 | 1,917 | 1,999 | ||
Newmont Corp. | 4.875% | 3/15/42 | 4,715 | 4,238 | ||
Newmont Corp. | 5.450% | 6/9/44 | 1,758 | 1,672 | ||
Nucor Corp. | 6.400% | 12/1/37 | 1,761 | 1,908 | ||
Nucor Corp. | 5.200% | 8/1/43 | 539 | 517 | ||
Nucor Corp. | 2.979% | 12/15/55 | 3,559 | 2,168 | ||
Nutrien Ltd. | 4.125% | 3/15/35 | 1,450 | 1,259 | ||
Nutrien Ltd. | 5.875% | 12/1/36 | 1,383 | 1,373 | ||
Nutrien Ltd. | 5.625% | 12/1/40 | 1,075 | 1,021 | ||
Nutrien Ltd. | 4.900% | 6/1/43 | 1,126 | 984 | ||
Nutrien Ltd. | 5.250% | 1/15/45 | 2,682 | 2,415 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Nutrien Ltd. | 5.000% | 4/1/49 | 2,099 | 1,825 | ||
Nutrien Ltd. | 3.950% | 5/13/50 | 870 | 654 | ||
Nutrien Ltd. | 5.800% | 3/27/53 | 3,416 | 3,336 | ||
Packaging Corp. of America | 4.050% | 12/15/49 | 1,646 | 1,278 | ||
Packaging Corp. of America | 3.050% | 10/1/51 | 2,205 | 1,406 | ||
Rio Tinto Alcan Inc. | 6.125% | 12/15/33 | 2,806 | 2,966 | ||
Rio Tinto Alcan Inc. | 5.750% | 6/1/35 | 3,842 | 3,889 | ||
Rio Tinto Finance USA Ltd. | 5.200% | 11/2/40 | 3,517 | 3,449 | ||
Rio Tinto Finance USA Ltd. | 2.750% | 11/2/51 | 2,955 | 1,906 | ||
Rio Tinto Finance USA plc | 4.750% | 3/22/42 | 1,003 | 929 | ||
Rio Tinto Finance USA plc | 4.125% | 8/21/42 | 1,897 | 1,617 | ||
Rio Tinto Finance USA plc | 5.125% | 3/9/53 | 3,325 | 3,212 | ||
RPM International Inc. | 5.250% | 6/1/45 | 1,192 | 1,030 | ||
RPM International Inc. | 4.250% | 1/15/48 | 1,855 | 1,393 | ||
Sherwin-Williams Co. | 4.000% | 12/15/42 | 952 | 750 | ||
Sherwin-Williams Co. | 4.550% | 8/1/45 | 1,586 | 1,323 | ||
Sherwin-Williams Co. | 4.500% | 6/1/47 | 3,802 | 3,240 | ||
Sherwin-Williams Co. | 3.800% | 8/15/49 | 2,837 | 2,125 | ||
Sherwin-Williams Co. | 3.300% | 5/15/50 | 1,160 | 788 | ||
Sherwin-Williams Co. | 2.900% | 3/15/52 | 1,726 | 1,084 | ||
Sonoco Products Co. | 5.750% | 11/1/40 | 1,333 | 1,296 | ||
Southern Copper Corp. | 7.500% | 7/27/35 | 3,262 | 3,700 | ||
Southern Copper Corp. | 6.750% | 4/16/40 | 3,529 | 3,831 | ||
Southern Copper Corp. | 5.250% | 11/8/42 | 4,547 | 4,187 | ||
Southern Copper Corp. | 5.875% | 4/23/45 | 4,752 | 4,662 | ||
Steel Dynamics Inc. | 3.250% | 10/15/50 | 870 | 562 | ||
Teck Resources Ltd. | 6.125% | 10/1/35 | 1,160 | 1,147 | ||
Teck Resources Ltd. | 6.000% | 8/15/40 | 2,372 | 2,242 | ||
Teck Resources Ltd. | 5.200% | 3/1/42 | 1,559 | 1,338 | ||
Teck Resources Ltd. | 5.400% | 2/1/43 | 1,718 | 1,506 | ||
Vale Overseas Ltd. | 8.250% | 1/17/34 | 1,184 | 1,348 | ||
Vale Overseas Ltd. | 6.875% | 11/21/36 | 5,661 | 5,884 | ||
Vale Overseas Ltd. | 6.875% | 11/10/39 | 3,753 | 3,911 | ||
Vale SA | 5.625% | 9/11/42 | 1,325 | 1,251 | ||
Vulcan Materials Co. | 4.500% | 6/15/47 | 2,675 | 2,276 | ||
Vulcan Materials Co. | 4.700% | 3/1/48 | 765 | 668 | ||
Westlake Corp. | 2.875% | 8/15/41 | 2,255 | 1,473 | ||
Westlake Corp. | 5.000% | 8/15/46 | 2,351 | 1,980 | ||
Westlake Corp. | 4.375% | 11/15/47 | 1,918 | 1,480 | ||
Westlake Corp. | 3.125% | 8/15/51 | 1,457 | 891 | ||
Westlake Corp. | 3.375% | 8/15/61 | 1,470 | 863 | ||
245,872 | ||||||
Real Estate (1.5%) | ||||||
Alexandria Real Estate Equities Inc. | 2.950% | 3/15/34 | 4,680 | 3,705 | ||
Alexandria Real Estate Equities Inc. | 4.750% | 4/15/35 | 2,995 | 2,768 | ||
Alexandria Real Estate Equities Inc. | 4.850% | 4/15/49 | 3,427 | 2,810 | ||
Alexandria Real Estate Equities Inc. | 4.000% | 2/1/50 | 2,439 | 1,819 | ||
Alexandria Real Estate Equities Inc. | 3.000% | 5/18/51 | 2,049 | 1,236 | ||
Alexandria Real Estate Equities Inc. | 3.550% | 3/15/52 | 1,748 | 1,193 | ||
American Homes 4 Rent LP | 3.375% | 7/15/51 | 781 | 501 | ||
American Homes 4 Rent LP | 4.300% | 4/15/52 | 1,030 | 794 | ||
American Tower Corp. | 3.700% | 10/15/49 | 2,123 | 1,479 | ||
American Tower Corp. | 3.100% | 6/15/50 | 3,667 | 2,289 | ||
American Tower Corp. | 2.950% | 1/15/51 | 3,470 | 2,097 | ||
1 | AvalonBay Communities Inc. | 3.900% | 10/15/46 | 1,920 | 1,458 | |
1 | AvalonBay Communities Inc. | 4.350% | 4/15/48 | 625 | 507 | |
Boston Properties LP | 2.450% | 10/1/33 | 3,704 | 2,624 | ||
Boston Properties LP | 6.500% | 1/15/34 | 1,032 | 1,027 | ||
Camden Property Trust | 3.350% | 11/1/49 | 977 | 691 | ||
CBRE Services Inc. | 5.950% | 8/15/34 | 3,365 | 3,334 | ||
Corporate Office Properties LP | 2.900% | 12/1/33 | 1,849 | 1,335 | ||
Crown Castle Inc. | 2.900% | 4/1/41 | 3,951 | 2,661 | ||
Crown Castle Inc. | 4.750% | 5/15/47 | 1,093 | 902 | ||
Crown Castle Inc. | 5.200% | 2/15/49 | 1,266 | 1,122 | ||
Crown Castle Inc. | 4.000% | 11/15/49 | 1,434 | 1,058 | ||
Crown Castle Inc. | 4.150% | 7/1/50 | 1,538 | 1,162 | ||
Crown Castle Inc. | 3.250% | 1/15/51 | 2,907 | 1,890 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Equinix Inc. | 3.000% | 7/15/50 | 2,062 | 1,295 | ||
Equinix Inc. | 2.950% | 9/15/51 | 1,777 | 1,098 | ||
Equinix Inc. | 3.400% | 2/15/52 | 700 | 473 | ||
ERP Operating LP | 4.500% | 7/1/44 | 3,216 | 2,722 | ||
ERP Operating LP | 4.500% | 6/1/45 | 1,894 | 1,548 | ||
ERP Operating LP | 4.000% | 8/1/47 | 588 | 447 | ||
Essex Portfolio LP | 4.500% | 3/15/48 | 1,235 | 966 | ||
Essex Portfolio LP | 2.650% | 9/1/50 | 992 | 555 | ||
Federal Realty OP LP | 4.500% | 12/1/44 | 1,732 | 1,340 | ||
Healthpeak OP LLC | 6.750% | 2/1/41 | 1,056 | 1,103 | ||
Invitation Homes Operating Partnership LP | 2.700% | 1/15/34 | 1,305 | 994 | ||
Kilroy Realty LP | 2.650% | 11/15/33 | 1,496 | 1,039 | ||
Kimco Realty OP LLC | 4.250% | 4/1/45 | 1,031 | 792 | ||
Kimco Realty OP LLC | 4.125% | 12/1/46 | 1,203 | 880 | ||
Kimco Realty OP LLC | 4.450% | 9/1/47 | 801 | 633 | ||
Kimco Realty OP LLC | 3.700% | 10/1/49 | 1,582 | 1,106 | ||
Mid-America Apartments LP | 2.875% | 9/15/51 | 970 | 609 | ||
NNN REIT Inc. | 5.600% | 10/15/33 | 1,600 | 1,570 | ||
NNN REIT Inc. | 4.800% | 10/15/48 | 2,816 | 2,299 | ||
NNN REIT Inc. | 3.100% | 4/15/50 | 832 | 511 | ||
NNN REIT Inc. | 3.000% | 4/15/52 | 532 | 322 | ||
Prologis LP | 5.125% | 1/15/34 | 2,390 | 2,350 | ||
Prologis LP | 4.375% | 9/15/48 | 1,215 | 1,006 | ||
Prologis LP | 3.050% | 3/1/50 | 1,223 | 809 | ||
Prologis LP | 3.000% | 4/15/50 | 2,230 | 1,466 | ||
Prologis LP | 2.125% | 10/15/50 | 1,844 | 1,000 | ||
Prologis LP | 5.250% | 6/15/53 | 3,285 | 3,129 | ||
Public Storage Operating Co. | 5.350% | 8/1/53 | 2,000 | 1,949 | ||
Realty Income Corp. | 4.650% | 3/15/47 | 2,130 | 1,851 | ||
Regency Centers LP | 4.400% | 2/1/47 | 903 | 706 | ||
Regency Centers LP | 4.650% | 3/15/49 | 1,070 | 868 | ||
Simon Property Group LP | 6.750% | 2/1/40 | 1,326 | 1,424 | ||
Simon Property Group LP | 4.750% | 3/15/42 | 2,030 | 1,729 | ||
Simon Property Group LP | 4.250% | 10/1/44 | 1,868 | 1,463 | ||
Simon Property Group LP | 4.250% | 11/30/46 | 1,002 | 773 | ||
Simon Property Group LP | 3.250% | 9/13/49 | 2,785 | 1,820 | ||
Simon Property Group LP | 3.800% | 7/15/50 | 2,120 | 1,529 | ||
Simon Property Group LP | 5.850% | 3/8/53 | 2,889 | 2,832 | ||
UDR Inc. | 3.100% | 11/1/34 | 612 | 482 | ||
Ventas Realty LP | 5.700% | 9/30/43 | 2,782 | 2,554 | ||
Ventas Realty LP | 4.375% | 2/1/45 | 1,363 | 1,046 | ||
VICI Properties LP | 5.625% | 5/15/52 | 2,900 | 2,555 | ||
Welltower OP LLC | 6.500% | 3/15/41 | 783 | 803 | ||
Welltower OP LLC | 4.950% | 9/1/48 | 1,595 | 1,388 | ||
Weyerhaeuser Co. | 4.000% | 3/9/52 | 3,300 | 2,555 | ||
100,851 | ||||||
Technology (8.9%) | ||||||
Advanced Micro Devices Inc. | 4.393% | 6/1/52 | 1,825 | 1,598 | ||
Analog Devices Inc. | 2.800% | 10/1/41 | 2,083 | 1,478 | ||
Analog Devices Inc. | 5.300% | 12/15/45 | 950 | 917 | ||
Analog Devices Inc. | 2.950% | 10/1/51 | 3,459 | 2,319 | ||
Apple Inc. | 4.500% | 2/23/36 | 4,245 | 4,241 | ||
Apple Inc. | 2.375% | 2/8/41 | 3,386 | 2,418 | ||
Apple Inc. | 3.850% | 5/4/43 | 10,499 | 9,085 | ||
Apple Inc. | 4.450% | 5/6/44 | 2,319 | 2,204 | ||
Apple Inc. | 3.450% | 2/9/45 | 7,299 | 5,901 | ||
Apple Inc. | 4.375% | 5/13/45 | 7,936 | 7,298 | ||
Apple Inc. | 4.650% | 2/23/46 | 14,736 | 14,085 | ||
Apple Inc. | 3.850% | 8/4/46 | 4,935 | 4,170 | ||
Apple Inc. | 4.250% | 2/9/47 | 3,524 | 3,214 | ||
Apple Inc. | 3.750% | 9/12/47 | 1,967 | 1,638 | ||
Apple Inc. | 3.750% | 11/13/47 | 3,788 | 3,150 | ||
Apple Inc. | 2.950% | 9/11/49 | 5,132 | 3,662 | ||
Apple Inc. | 2.650% | 5/11/50 | 7,590 | 5,054 | ||
Apple Inc. | 2.400% | 8/20/50 | 5,293 | 3,401 | ||
Apple Inc. | 2.650% | 2/8/51 | 7,058 | 4,678 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Apple Inc. | 2.700% | 8/5/51 | 5,090 | 3,383 | ||
Apple Inc. | 3.950% | 8/8/52 | 7,343 | 6,202 | ||
Apple Inc. | 4.850% | 5/10/53 | 5,913 | 5,836 | ||
Apple Inc. | 2.550% | 8/20/60 | 4,691 | 2,949 | ||
Apple Inc. | 2.800% | 2/8/61 | 4,463 | 2,875 | ||
Apple Inc. | 2.850% | 8/5/61 | 5,200 | 3,364 | ||
Apple Inc. | 4.100% | 8/8/62 | 6,138 | 5,141 | ||
Applied Materials Inc. | 5.100% | 10/1/35 | 1,215 | 1,233 | ||
Applied Materials Inc. | 5.850% | 6/15/41 | 1,948 | 2,080 | ||
Applied Materials Inc. | 4.350% | 4/1/47 | 2,908 | 2,615 | ||
Applied Materials Inc. | 2.750% | 6/1/50 | 2,608 | 1,775 | ||
2 | Broadcom Inc. | 3.469% | 4/15/34 | 8,525 | 6,964 | |
2 | Broadcom Inc. | 3.137% | 11/15/35 | 12,458 | 9,497 | |
2 | Broadcom Inc. | 3.187% | 11/15/36 | 9,164 | 6,888 | |
2 | Broadcom Inc. | 4.926% | 5/15/37 | 8,208 | 7,383 | |
2 | Broadcom Inc. | 3.500% | 2/15/41 | 9,536 | 6,980 | |
2 | Broadcom Inc. | 3.750% | 2/15/51 | 6,186 | 4,418 | |
Cisco Systems Inc. | 5.900% | 2/15/39 | 6,845 | 7,416 | ||
Cisco Systems Inc. | 5.500% | 1/15/40 | 6,831 | 7,086 | ||
Corning Inc. | 4.700% | 3/15/37 | 830 | 762 | ||
Corning Inc. | 5.750% | 8/15/40 | 1,371 | 1,353 | ||
Corning Inc. | 4.750% | 3/15/42 | 1,650 | 1,477 | ||
Corning Inc. | 5.350% | 11/15/48 | 1,449 | 1,364 | ||
Corning Inc. | 3.900% | 11/15/49 | 1,164 | 868 | ||
Corning Inc. | 4.375% | 11/15/57 | 2,360 | 1,907 | ||
Corning Inc. | 5.850% | 11/15/68 | 1,262 | 1,203 | ||
Corning Inc. | 5.450% | 11/15/79 | 4,055 | 3,634 | ||
Dell Inc. | 6.500% | 4/15/38 | 1,512 | 1,534 | ||
Dell International LLC | 8.100% | 7/15/36 | 3,218 | 3,696 | ||
2 | Dell International LLC | 3.375% | 12/15/41 | 4,118 | 2,894 | |
Dell International LLC | 8.350% | 7/15/46 | 2,282 | 2,797 | ||
2 | Dell International LLC | 3.450% | 12/15/51 | 4,230 | 2,762 | |
Fidelity National Information Services Inc. | 3.100% | 3/1/41 | 4,383 | 3,045 | ||
Fidelity National Information Services Inc. | 4.500% | 8/15/46 | 620 | 493 | ||
Fiserv Inc. | 4.400% | 7/1/49 | 6,412 | 5,225 | ||
Hewlett Packard Enterprise Co. | 6.200% | 10/15/35 | 1,131 | 1,172 | ||
Hewlett Packard Enterprise Co. | 6.350% | 10/15/45 | 4,721 | 4,835 | ||
HP Inc. | 6.000% | 9/15/41 | 5,354 | 5,272 | ||
Intel Corp. | 4.600% | 3/25/40 | 646 | 587 | ||
Intel Corp. | 2.800% | 8/12/41 | 3,525 | 2,443 | ||
Intel Corp. | 4.800% | 10/1/41 | 2,268 | 2,064 | ||
Intel Corp. | 4.250% | 12/15/42 | 2,201 | 1,857 | ||
Intel Corp. | 5.625% | 2/10/43 | 4,270 | 4,257 | ||
Intel Corp. | 4.900% | 7/29/45 | 1,771 | 1,715 | ||
Intel Corp. | 4.100% | 5/19/46 | 3,953 | 3,230 | ||
Intel Corp. | 4.100% | 5/11/47 | 4,124 | 3,352 | ||
Intel Corp. | 3.734% | 12/8/47 | 5,361 | 4,055 | ||
Intel Corp. | 3.250% | 11/15/49 | 6,244 | 4,242 | ||
Intel Corp. | 4.750% | 3/25/50 | 7,796 | 6,835 | ||
Intel Corp. | 3.050% | 8/12/51 | 4,003 | 2,589 | ||
Intel Corp. | 4.900% | 8/5/52 | 5,380 | 4,849 | ||
Intel Corp. | 5.700% | 2/10/53 | 9,134 | 9,041 | ||
Intel Corp. | 3.100% | 2/15/60 | 4,020 | 2,498 | ||
Intel Corp. | 4.950% | 3/25/60 | 3,410 | 3,068 | ||
Intel Corp. | 3.200% | 8/12/61 | 1,379 | 861 | ||
Intel Corp. | 5.050% | 8/5/62 | 2,835 | 2,521 | ||
Intel Corp. | 5.900% | 2/10/63 | 4,490 | 4,499 | ||
International Business Machines Corp. | 4.150% | 5/15/39 | 6,078 | 5,212 | ||
International Business Machines Corp. | 5.600% | 11/30/39 | 2,100 | 2,117 | ||
International Business Machines Corp. | 2.850% | 5/15/40 | 2,435 | 1,730 | ||
International Business Machines Corp. | 4.000% | 6/20/42 | 3,091 | 2,540 | ||
International Business Machines Corp. | 4.700% | 2/19/46 | 1,947 | 1,720 | ||
International Business Machines Corp. | 4.250% | 5/15/49 | 9,187 | 7,578 | ||
International Business Machines Corp. | 2.950% | 5/15/50 | 1,665 | 1,076 | ||
International Business Machines Corp. | 3.430% | 2/9/52 | 1,119 | 786 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
International Business Machines Corp. | 4.900% | 7/27/52 | 1,760 | 1,601 | ||
International Business Machines Corp. | 5.100% | 2/6/53 | 3,480 | 3,254 | ||
International Business Machines Corp. | 7.125% | 12/1/96 | 1,055 | 1,292 | ||
Juniper Networks Inc. | 5.950% | 3/15/41 | 1,458 | 1,385 | ||
KLA Corp. | 5.000% | 3/15/49 | 1,330 | 1,254 | ||
KLA Corp. | 3.300% | 3/1/50 | 2,518 | 1,808 | ||
KLA Corp. | 4.950% | 7/15/52 | 3,980 | 3,752 | ||
KLA Corp. | 5.250% | 7/15/62 | 2,863 | 2,777 | ||
Kyndryl Holdings Inc. | 4.100% | 10/15/41 | 1,660 | 1,133 | ||
Lam Research Corp. | 4.875% | 3/15/49 | 4,974 | 4,666 | ||
Lam Research Corp. | 2.875% | 6/15/50 | 1,104 | 738 | ||
Lam Research Corp. | 3.125% | 6/15/60 | 1,768 | 1,158 | ||
Micron Technology Inc. | 5.875% | 9/15/33 | 2,845 | 2,787 | ||
Micron Technology Inc. | 3.366% | 11/1/41 | 1,590 | 1,102 | ||
Micron Technology Inc. | 3.477% | 11/1/51 | 738 | 478 | ||
Microsoft Corp. | 3.500% | 2/12/35 | 3,922 | 3,564 | ||
Microsoft Corp. | 4.200% | 11/3/35 | 2,385 | 2,303 | ||
Microsoft Corp. | 3.450% | 8/8/36 | 5,695 | 5,063 | ||
Microsoft Corp. | 4.100% | 2/6/37 | 2,967 | 2,817 | ||
Microsoft Corp. | 5.200% | 6/1/39 | 319 | 334 | ||
Microsoft Corp. | 4.500% | 10/1/40 | 3,477 | 3,383 | ||
Microsoft Corp. | 5.300% | 2/8/41 | 2,695 | 2,854 | ||
Microsoft Corp. | 3.500% | 11/15/42 | 2,674 | 2,235 | ||
Microsoft Corp. | 3.750% | 2/12/45 | 3,134 | 2,670 | ||
Microsoft Corp. | 4.450% | 11/3/45 | 3,663 | 3,481 | ||
Microsoft Corp. | 3.700% | 8/8/46 | 5,532 | 4,688 | ||
Microsoft Corp. | 4.250% | 2/6/47 | 4,020 | 3,731 | ||
Microsoft Corp. | 2.525% | 6/1/50 | 21,132 | 13,967 | ||
Microsoft Corp. | 2.921% | 3/17/52 | 19,073 | 13,518 | ||
Microsoft Corp. | 4.000% | 2/12/55 | 1,325 | 1,158 | ||
Microsoft Corp. | 3.950% | 8/8/56 | 322 | 276 | ||
Microsoft Corp. | 4.500% | 2/6/57 | 2,811 | 2,638 | ||
Microsoft Corp. | 2.675% | 6/1/60 | 12,423 | 7,982 | ||
Microsoft Corp. | 3.041% | 3/17/62 | 6,392 | 4,414 | ||
Moody's Corp. | 2.750% | 8/19/41 | 1,870 | 1,291 | ||
Moody's Corp. | 5.250% | 7/15/44 | 1,560 | 1,498 | ||
Moody's Corp. | 4.875% | 12/17/48 | 981 | 893 | ||
Moody's Corp. | 3.250% | 5/20/50 | 950 | 655 | ||
Moody's Corp. | 3.750% | 2/25/52 | 1,745 | 1,332 | ||
Moody's Corp. | 3.100% | 11/29/61 | 2,829 | 1,790 | ||
Motorola Solutions Inc. | 5.500% | 9/1/44 | 1,049 | 964 | ||
Nokia OYJ | 6.625% | 5/15/39 | 1,730 | 1,646 | ||
NVIDIA Corp. | 3.500% | 4/1/40 | 4,096 | 3,405 | ||
NVIDIA Corp. | 3.500% | 4/1/50 | 6,955 | 5,471 | ||
NVIDIA Corp. | 3.700% | 4/1/60 | 2,498 | 1,982 | ||
NXP BV | 3.250% | 5/11/41 | 3,345 | 2,379 | ||
NXP BV | 3.125% | 2/15/42 | 651 | 446 | ||
NXP BV | 3.250% | 11/30/51 | 1,455 | 938 | ||
Oracle Corp. | 4.300% | 7/8/34 | 2,473 | 2,216 | ||
Oracle Corp. | 3.900% | 5/15/35 | 3,176 | 2,708 | ||
Oracle Corp. | 3.850% | 7/15/36 | 3,320 | 2,745 | ||
Oracle Corp. | 3.800% | 11/15/37 | 7,908 | 6,362 | ||
Oracle Corp. | 6.500% | 4/15/38 | 5,336 | 5,623 | ||
Oracle Corp. | 6.125% | 7/8/39 | 4,668 | 4,727 | ||
Oracle Corp. | 3.600% | 4/1/40 | 7,653 | 5,790 | ||
Oracle Corp. | 5.375% | 7/15/40 | 8,918 | 8,311 | ||
Oracle Corp. | 3.650% | 3/25/41 | 6,125 | 4,619 | ||
Oracle Corp. | 4.500% | 7/8/44 | 4,228 | 3,464 | ||
Oracle Corp. | 4.125% | 5/15/45 | 6,115 | 4,722 | ||
Oracle Corp. | 4.000% | 7/15/46 | 9,982 | 7,485 | ||
Oracle Corp. | 4.000% | 11/15/47 | 3,802 | 2,836 | ||
Oracle Corp. | 3.600% | 4/1/50 | 15,005 | 10,330 | ||
Oracle Corp. | 3.950% | 3/25/51 | 11,595 | 8,456 | ||
Oracle Corp. | 6.900% | 11/9/52 | 8,894 | 9,682 | ||
Oracle Corp. | 5.550% | 2/6/53 | 9,984 | 9,279 | ||
Oracle Corp. | 4.375% | 5/15/55 | 8,597 | 6,594 | ||
Oracle Corp. | 3.850% | 4/1/60 | 8,016 | 5,433 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Oracle Corp. | 4.100% | 3/25/61 | 3,310 | 2,351 | ||
QUALCOMM Inc. | 4.650% | 5/20/35 | 3,573 | 3,504 | ||
QUALCOMM Inc. | 4.800% | 5/20/45 | 4,975 | 4,693 | ||
QUALCOMM Inc. | 4.300% | 5/20/47 | 4,908 | 4,248 | ||
QUALCOMM Inc. | 3.250% | 5/20/50 | 2,592 | 1,891 | ||
QUALCOMM Inc. | 4.500% | 5/20/52 | 2,531 | 2,205 | ||
QUALCOMM Inc. | 6.000% | 5/20/53 | 4,813 | 5,182 | ||
Quanta Services Inc. | 3.050% | 10/1/41 | 1,167 | 794 | ||
S&P Global Inc. | 3.250% | 12/1/49 | 2,783 | 1,987 | ||
S&P Global Inc. | 3.700% | 3/1/52 | 4,189 | 3,259 | ||
S&P Global Inc. | 2.300% | 8/15/60 | 2,461 | 1,340 | ||
S&P Global Inc. | 3.900% | 3/1/62 | 1,525 | 1,196 | ||
Salesforce Inc. | 2.700% | 7/15/41 | 5,890 | 4,211 | ||
Salesforce Inc. | 2.900% | 7/15/51 | 5,585 | 3,735 | ||
Salesforce Inc. | 3.050% | 7/15/61 | 4,415 | 2,848 | ||
Texas Instruments Inc. | 3.875% | 3/15/39 | 1,359 | 1,175 | ||
Texas Instruments Inc. | 4.150% | 5/15/48 | 4,464 | 3,872 | ||
Texas Instruments Inc. | 2.700% | 9/15/51 | 455 | 300 | ||
Texas Instruments Inc. | 4.100% | 8/16/52 | 1,285 | 1,086 | ||
Texas Instruments Inc. | 5.000% | 3/14/53 | 2,725 | 2,647 | ||
Texas Instruments Inc. | 5.050% | 5/18/63 | 4,046 | 3,876 | ||
TSMC Arizona Corp. | 3.125% | 10/25/41 | 3,317 | 2,551 | ||
TSMC Arizona Corp. | 3.250% | 10/25/51 | 3,416 | 2,472 | ||
TSMC Arizona Corp. | 4.500% | 4/22/52 | 3,188 | 2,905 | ||
Verisk Analytics Inc. | 5.500% | 6/15/45 | 1,064 | 981 | ||
Verisk Analytics Inc. | 3.625% | 5/15/50 | 1,573 | 1,121 | ||
Workday Inc. | 3.800% | 4/1/32 | 50 | 44 | ||
621,018 | ||||||
Utilities (12.2%) | ||||||
AEP Texas Inc. | 3.800% | 10/1/47 | 1,129 | 817 | ||
1 | AEP Texas Inc. | 4.150% | 5/1/49 | 1,176 | 906 | |
1 | AEP Texas Inc. | 3.450% | 1/15/50 | 1,599 | 1,104 | |
AEP Texas Inc. | 3.450% | 5/15/51 | 1,283 | 874 | ||
AEP Texas Inc. | 5.250% | 5/15/52 | 2,369 | 2,171 | ||
AEP Transmission Co. LLC | 4.000% | 12/1/46 | 1,805 | 1,480 | ||
AEP Transmission Co. LLC | 3.750% | 12/1/47 | 2,838 | 2,203 | ||
AEP Transmission Co. LLC | 4.250% | 9/15/48 | 1,722 | 1,429 | ||
AEP Transmission Co. LLC | 3.800% | 6/15/49 | 1,093 | 844 | ||
1 | AEP Transmission Co. LLC | 3.650% | 4/1/50 | 2,240 | 1,691 | |
1 | AEP Transmission Co. LLC | 2.750% | 8/15/51 | 845 | 523 | |
1 | AEP Transmission Co. LLC | 4.500% | 6/15/52 | 1,374 | 1,186 | |
AEP Transmission Co. LLC | 5.400% | 3/15/53 | 2,800 | 2,784 | ||
Alabama Power Co. | 6.125% | 5/15/38 | 1,139 | 1,189 | ||
Alabama Power Co. | 6.000% | 3/1/39 | 964 | 995 | ||
Alabama Power Co. | 3.850% | 12/1/42 | 153 | 122 | ||
Alabama Power Co. | 4.150% | 8/15/44 | 479 | 387 | ||
Alabama Power Co. | 3.750% | 3/1/45 | 2,160 | 1,648 | ||
Alabama Power Co. | 4.300% | 1/2/46 | 1,636 | 1,347 | ||
1 | Alabama Power Co. | 3.700% | 12/1/47 | 2,521 | 1,895 | |
1 | Alabama Power Co. | 4.300% | 7/15/48 | 2,181 | 1,794 | |
Alabama Power Co. | 3.450% | 10/1/49 | 1,499 | 1,063 | ||
Alabama Power Co. | 3.125% | 7/15/51 | 2,379 | 1,562 | ||
Alabama Power Co. | 3.000% | 3/15/52 | 510 | 330 | ||
Ameren Illinois Co. | 4.150% | 3/15/46 | 2,222 | 1,816 | ||
Ameren Illinois Co. | 3.700% | 12/1/47 | 1,684 | 1,300 | ||
Ameren Illinois Co. | 4.500% | 3/15/49 | 2,178 | 1,915 | ||
Ameren Illinois Co. | 3.250% | 3/15/50 | 1,772 | 1,244 | ||
Ameren Illinois Co. | 2.900% | 6/15/51 | 1,220 | 783 | ||
Ameren Illinois Co. | 5.900% | 12/1/52 | 669 | 710 | ||
American Electric Power Co. Inc. | 3.250% | 3/1/50 | 981 | 643 | ||
American Water Capital Corp. | 6.593% | 10/15/37 | 1,822 | 2,026 | ||
American Water Capital Corp. | 4.300% | 12/1/42 | 584 | 499 | ||
American Water Capital Corp. | 4.300% | 9/1/45 | 1,166 | 967 | ||
American Water Capital Corp. | 4.000% | 12/1/46 | 472 | 373 | ||
American Water Capital Corp. | 3.750% | 9/1/47 | 3,291 | 2,554 | ||
American Water Capital Corp. | 4.200% | 9/1/48 | 3,325 | 2,741 | ||
American Water Capital Corp. | 4.150% | 6/1/49 | 2,175 | 1,801 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
American Water Capital Corp. | 3.450% | 5/1/50 | 807 | 585 | ||
American Water Capital Corp. | 3.250% | 6/1/51 | 1,791 | 1,254 | ||
Appalachian Power Co. | 7.000% | 4/1/38 | 3,091 | 3,425 | ||
Appalachian Power Co. | 4.400% | 5/15/44 | 1,282 | 1,031 | ||
Appalachian Power Co. | 4.450% | 6/1/45 | 1,259 | 1,027 | ||
1 | Appalachian Power Co. | 4.500% | 3/1/49 | 2,676 | 2,168 | |
1 | Appalachian Power Co. | 3.700% | 5/1/50 | 1,654 | 1,192 | |
Arizona Public Service Co. | 5.050% | 9/1/41 | 1,502 | 1,326 | ||
Arizona Public Service Co. | 4.500% | 4/1/42 | 2,306 | 1,914 | ||
Arizona Public Service Co. | 4.350% | 11/15/45 | 670 | 534 | ||
Arizona Public Service Co. | 3.750% | 5/15/46 | 1,008 | 730 | ||
Arizona Public Service Co. | 4.200% | 8/15/48 | 847 | 650 | ||
Arizona Public Service Co. | 4.250% | 3/1/49 | 1,092 | 834 | ||
Arizona Public Service Co. | 3.500% | 12/1/49 | 1,089 | 738 | ||
Arizona Public Service Co. | 3.350% | 5/15/50 | 993 | 663 | ||
Arizona Public Service Co. | 2.650% | 9/15/50 | 610 | 355 | ||
Atmos Energy Corp. | 5.500% | 6/15/41 | 535 | 525 | ||
Atmos Energy Corp. | 4.150% | 1/15/43 | 423 | 355 | ||
Atmos Energy Corp. | 4.125% | 10/15/44 | 2,452 | 2,014 | ||
Atmos Energy Corp. | 4.300% | 10/1/48 | 1,490 | 1,259 | ||
Atmos Energy Corp. | 4.125% | 3/15/49 | 4,202 | 3,417 | ||
Atmos Energy Corp. | 3.375% | 9/15/49 | 3,174 | 2,265 | ||
Atmos Energy Corp. | 2.850% | 2/15/52 | 455 | 294 | ||
Atmos Energy Corp. | 5.750% | 10/15/52 | 2,140 | 2,227 | ||
Avista Corp. | 4.350% | 6/1/48 | 1,159 | 950 | ||
Avista Corp. | 4.000% | 4/1/52 | 1,441 | 1,100 | ||
Baltimore Gas & Electric Co. | 6.350% | 10/1/36 | 1,360 | 1,453 | ||
Baltimore Gas & Electric Co. | 3.500% | 8/15/46 | 1,584 | 1,160 | ||
1 | Baltimore Gas & Electric Co. | 3.750% | 8/15/47 | 2,280 | 1,737 | |
Baltimore Gas & Electric Co. | 4.250% | 9/15/48 | 606 | 497 | ||
Baltimore Gas & Electric Co. | 3.200% | 9/15/49 | 485 | 331 | ||
Baltimore Gas & Electric Co. | 2.900% | 6/15/50 | 1,165 | 749 | ||
Baltimore Gas & Electric Co. | 4.550% | 6/1/52 | 2,961 | 2,561 | ||
Baltimore Gas & Electric Co. | 5.400% | 6/1/53 | 3,680 | 3,630 | ||
Berkshire Hathaway Energy Co. | 6.125% | 4/1/36 | 7,401 | 7,740 | ||
Berkshire Hathaway Energy Co. | 5.950% | 5/15/37 | 1,599 | 1,625 | ||
Berkshire Hathaway Energy Co. | 5.150% | 11/15/43 | 1,532 | 1,409 | ||
Berkshire Hathaway Energy Co. | 4.500% | 2/1/45 | 3,013 | 2,535 | ||
Berkshire Hathaway Energy Co. | 3.800% | 7/15/48 | 4,318 | 3,187 | ||
Berkshire Hathaway Energy Co. | 4.450% | 1/15/49 | 1,041 | 853 | ||
Berkshire Hathaway Energy Co. | 4.250% | 10/15/50 | 4,895 | 3,821 | ||
Berkshire Hathaway Energy Co. | 2.850% | 5/15/51 | 1,710 | 1,059 | ||
Berkshire Hathaway Energy Co. | 4.600% | 5/1/53 | 3,885 | 3,202 | ||
Black Hills Corp. | 4.200% | 9/15/46 | 1,171 | 893 | ||
Black Hills Corp. | 3.875% | 10/15/49 | 981 | 696 | ||
CenterPoint Energy Houston Electric LLC | 3.550% | 8/1/42 | 536 | 410 | ||
CenterPoint Energy Houston Electric LLC | 4.500% | 4/1/44 | 1,819 | 1,576 | ||
CenterPoint Energy Houston Electric LLC | 3.950% | 3/1/48 | 3,269 | 2,620 | ||
1 | CenterPoint Energy Houston Electric LLC | 4.250% | 2/1/49 | 2,403 | 2,011 | |
1 | CenterPoint Energy Houston Electric LLC | 2.900% | 7/1/50 | 2,242 | 1,455 | |
1 | CenterPoint Energy Houston Electric LLC | 3.350% | 4/1/51 | 3,400 | 2,432 | |
1 | CenterPoint Energy Houston Electric LLC | 4.850% | 10/1/52 | 1,175 | 1,084 | |
CenterPoint Energy Houston Electric LLC | 5.300% | 4/1/53 | 1,780 | 1,764 | ||
CenterPoint Energy Inc. | 3.700% | 9/1/49 | 980 | 702 | ||
CenterPoint Energy Resources Corp. | 5.850% | 1/15/41 | 1,248 | 1,246 | ||
CenterPoint Energy Resources Corp. | 4.100% | 9/1/47 | 504 | 397 | ||
Cleco Corporate Holdings LLC | 4.973% | 5/1/46 | 351 | 283 | ||
Cleveland Electric Illuminating Co. | 5.950% | 12/15/36 | 1,511 | 1,491 | ||
CMS Energy Corp. | 4.875% | 3/1/44 | 1,124 | 1,001 | ||
Commonwealth Edison Co. | 5.900% | 3/15/36 | 2,420 | 2,504 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Commonwealth Edison Co. | 6.450% | 1/15/38 | 681 | 735 | ||
Commonwealth Edison Co. | 3.800% | 10/1/42 | 500 | 398 | ||
Commonwealth Edison Co. | 4.600% | 8/15/43 | 1,240 | 1,101 | ||
Commonwealth Edison Co. | 4.700% | 1/15/44 | 1,116 | 989 | ||
Commonwealth Edison Co. | 3.700% | 3/1/45 | 2,137 | 1,646 | ||
Commonwealth Edison Co. | 4.350% | 11/15/45 | 1,973 | 1,665 | ||
Commonwealth Edison Co. | 3.650% | 6/15/46 | 2,918 | 2,194 | ||
1 | Commonwealth Edison Co. | 3.750% | 8/15/47 | 1,516 | 1,158 | |
Commonwealth Edison Co. | 4.000% | 3/1/48 | 1,384 | 1,115 | ||
Commonwealth Edison Co. | 4.000% | 3/1/49 | 850 | 678 | ||
1 | Commonwealth Edison Co. | 3.200% | 11/15/49 | 902 | 616 | |
Commonwealth Edison Co. | 3.000% | 3/1/50 | 1,375 | 909 | ||
1 | Commonwealth Edison Co. | 3.125% | 3/15/51 | 2,076 | 1,397 | |
1 | Commonwealth Edison Co. | 2.750% | 9/1/51 | 475 | 292 | |
1 | Commonwealth Edison Co. | 3.850% | 3/15/52 | 1,830 | 1,400 | |
Commonwealth Edison Co. | 5.300% | 2/1/53 | 3,062 | 3,005 | ||
Connecticut Light & Power Co. | 4.300% | 4/15/44 | 1,971 | 1,664 | ||
1 | Connecticut Light & Power Co. | 4.150% | 6/1/45 | 792 | 658 | |
Connecticut Light & Power Co. | 4.000% | 4/1/48 | 3,341 | 2,718 | ||
Connecticut Light & Power Co. | 5.250% | 1/15/53 | 1,955 | 1,910 | ||
1 | Consolidated Edison Co. of New York Inc. | 5.300% | 3/1/35 | 1,156 | 1,128 | |
1 | Consolidated Edison Co. of New York Inc. | 5.850% | 3/15/36 | 1,323 | 1,335 | |
1 | Consolidated Edison Co. of New York Inc. | 6.200% | 6/15/36 | 1,315 | 1,368 | |
1 | Consolidated Edison Co. of New York Inc. | 6.300% | 8/15/37 | 620 | 653 | |
1 | Consolidated Edison Co. of New York Inc. | 6.750% | 4/1/38 | 359 | 396 | |
1 | Consolidated Edison Co. of New York Inc. | 5.500% | 12/1/39 | 904 | 871 | |
Consolidated Edison Co. of New York Inc. | 5.700% | 6/15/40 | 2,754 | 2,705 | ||
1 | Consolidated Edison Co. of New York Inc. | 4.200% | 3/15/42 | 2,161 | 1,800 | |
Consolidated Edison Co. of New York Inc. | 3.950% | 3/1/43 | 1,237 | 984 | ||
Consolidated Edison Co. of New York Inc. | 4.450% | 3/15/44 | 3,933 | 3,347 | ||
Consolidated Edison Co. of New York Inc. | 4.500% | 12/1/45 | 5,174 | 4,374 | ||
Consolidated Edison Co. of New York Inc. | 3.850% | 6/15/46 | 733 | 561 | ||
1 | Consolidated Edison Co. of New York Inc. | 3.875% | 6/15/47 | 3,870 | 2,970 | |
1 | Consolidated Edison Co. of New York Inc. | 4.650% | 12/1/48 | 2,873 | 2,473 | |
1 | Consolidated Edison Co. of New York Inc. | 3.950% | 4/1/50 | 1,875 | 1,483 | |
Consolidated Edison Co. of New York Inc. | 3.200% | 12/1/51 | 1,774 | 1,189 | ||
Consolidated Edison Co. of New York Inc. | 6.150% | 11/15/52 | 5,893 | 6,319 | ||
Consolidated Edison Co. of New York Inc. | 4.625% | 12/1/54 | 1,800 | 1,526 | ||
1 | Consolidated Edison Co. of New York Inc. | 4.300% | 12/1/56 | 2,255 | 1,778 | |
1 | Consolidated Edison Co. of New York Inc. | 4.000% | 11/15/57 | 1,211 | 934 | |
Consolidated Edison Co. of New York Inc. | 4.500% | 5/15/58 | 2,134 | 1,740 | ||
Consolidated Edison Co. of New York Inc. | 3.700% | 11/15/59 | 713 | 504 | ||
1 | Consolidated Edison Co. of New York Inc. | 3.000% | 12/1/60 | 960 | 586 | |
Consolidated Edison Co. of New York Inc. | 3.600% | 6/15/61 | 560 | 387 | ||
Constellation Energy Generation LLC | 6.250% | 10/1/39 | 2,220 | 2,248 | ||
Constellation Energy Generation LLC | 5.750% | 10/1/41 | 2,595 | 2,481 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Constellation Energy Generation LLC | 5.600% | 6/15/42 | 1,245 | 1,176 | ||
Consumers Energy Co. | 3.950% | 5/15/43 | 1,015 | 826 | ||
Consumers Energy Co. | 3.250% | 8/15/46 | 1,081 | 776 | ||
Consumers Energy Co. | 3.950% | 7/15/47 | 500 | 402 | ||
Consumers Energy Co. | 4.050% | 5/15/48 | 1,601 | 1,301 | ||
Consumers Energy Co. | 4.350% | 4/15/49 | 1,293 | 1,110 | ||
Consumers Energy Co. | 3.750% | 2/15/50 | 2,164 | 1,674 | ||
Consumers Energy Co. | 3.100% | 8/15/50 | 1,419 | 973 | ||
Consumers Energy Co. | 3.500% | 8/1/51 | 1,300 | 960 | ||
Consumers Energy Co. | 2.650% | 8/15/52 | 213 | 132 | ||
Consumers Energy Co. | 4.200% | 9/1/52 | 2,257 | 1,865 | ||
Consumers Energy Co. | 2.500% | 5/1/60 | 874 | 482 | ||
Dayton Power & Light Co. | 3.950% | 6/15/49 | 1,517 | 1,147 | ||
Delmarva Power & Light Co. | 4.150% | 5/15/45 | 995 | 794 | ||
1 | Dominion Energy Inc. | 5.250% | 8/1/33 | 854 | 823 | |
1 | Dominion Energy Inc. | 5.950% | 6/15/35 | 2,439 | 2,481 | |
Dominion Energy Inc. | 7.000% | 6/15/38 | 350 | 379 | ||
1 | Dominion Energy Inc. | 3.300% | 4/15/41 | 3,301 | 2,379 | |
1 | Dominion Energy Inc. | 4.900% | 8/1/41 | 1,713 | 1,506 | |
1 | Dominion Energy Inc. | 4.050% | 9/15/42 | 2,044 | 1,580 | |
Dominion Energy Inc. | 4.700% | 12/1/44 | 2,401 | 2,017 | ||
1 | Dominion Energy Inc. | 4.600% | 3/15/49 | 1,195 | 992 | |
1 | Dominion Energy Inc. | 4.850% | 8/15/52 | 1,212 | 1,033 | |
Dominion Energy South Carolina Inc. | 6.050% | 1/15/38 | 125 | 130 | ||
Dominion Energy South Carolina Inc. | 5.450% | 2/1/41 | 1,875 | 1,813 | ||
Dominion Energy South Carolina Inc. | 4.600% | 6/15/43 | 1,906 | 1,680 | ||
Dominion Energy South Carolina Inc. | 5.100% | 6/1/65 | 1,565 | 1,457 | ||
DTE Electric Co. | 5.200% | 4/1/33 | 1,625 | 1,629 | ||
1 | DTE Electric Co. | 4.000% | 4/1/43 | 625 | 506 | |
DTE Electric Co. | 4.300% | 7/1/44 | 1,000 | 839 | ||
DTE Electric Co. | 3.700% | 3/15/45 | 1,174 | 897 | ||
DTE Electric Co. | 3.700% | 6/1/46 | 1,712 | 1,300 | ||
DTE Electric Co. | 3.750% | 8/15/47 | 1,669 | 1,274 | ||
1 | DTE Electric Co. | 4.050% | 5/15/48 | 1,991 | 1,612 | |
DTE Electric Co. | 3.950% | 3/1/49 | 1,325 | 1,050 | ||
DTE Electric Co. | 2.950% | 3/1/50 | 1,492 | 989 | ||
1 | DTE Electric Co. | 3.250% | 4/1/51 | 1,345 | 936 | |
1 | DTE Electric Co. | 3.650% | 3/1/52 | 1,516 | 1,132 | |
DTE Electric Co. | 5.400% | 4/1/53 | 3,234 | 3,221 | ||
Duke Energy Carolinas LLC | 6.100% | 6/1/37 | 824 | 848 | ||
Duke Energy Carolinas LLC | 6.000% | 1/15/38 | 1,436 | 1,491 | ||
Duke Energy Carolinas LLC | 6.050% | 4/15/38 | 2,312 | 2,400 | ||
Duke Energy Carolinas LLC | 5.300% | 2/15/40 | 3,009 | 2,936 | ||
Duke Energy Carolinas LLC | 4.250% | 12/15/41 | 2,176 | 1,839 | ||
Duke Energy Carolinas LLC | 4.000% | 9/30/42 | 2,580 | 2,088 | ||
Duke Energy Carolinas LLC | 3.750% | 6/1/45 | 1,225 | 933 | ||
Duke Energy Carolinas LLC | 3.875% | 3/15/46 | 954 | 734 | ||
Duke Energy Carolinas LLC | 3.700% | 12/1/47 | 1,880 | 1,420 | ||
Duke Energy Carolinas LLC | 3.950% | 3/15/48 | 3,947 | 3,108 | ||
Duke Energy Carolinas LLC | 3.200% | 8/15/49 | 1,219 | 836 | ||
Duke Energy Carolinas LLC | 3.450% | 4/15/51 | 1,635 | 1,153 | ||
Duke Energy Carolinas LLC | 3.550% | 3/15/52 | 899 | 654 | ||
Duke Energy Carolinas LLC | 5.350% | 1/15/53 | 3,930 | 3,827 | ||
Duke Energy Carolinas LLC | 5.400% | 1/15/54 | 1,170 | 1,149 | ||
Duke Energy Corp. | 3.300% | 6/15/41 | 627 | 450 | ||
Duke Energy Corp. | 4.800% | 12/15/45 | 3,214 | 2,779 | ||
Duke Energy Corp. | 3.750% | 9/1/46 | 4,241 | 3,111 | ||
Duke Energy Corp. | 3.950% | 8/15/47 | 2,442 | 1,824 | ||
Duke Energy Corp. | 4.200% | 6/15/49 | 1,701 | 1,322 | ||
Duke Energy Corp. | 3.500% | 6/15/51 | 3,008 | 2,070 | ||
Duke Energy Corp. | 5.000% | 8/15/52 | 5,326 | 4,671 | ||
Duke Energy Florida LLC | 6.350% | 9/15/37 | 566 | 602 | ||
Duke Energy Florida LLC | 6.400% | 6/15/38 | 3,003 | 3,229 | ||
Duke Energy Florida LLC | 5.650% | 4/1/40 | 1,534 | 1,529 | ||
Duke Energy Florida LLC | 3.850% | 11/15/42 | 608 | 478 | ||
Duke Energy Florida LLC | 3.400% | 10/1/46 | 3,096 | 2,227 | ||
Duke Energy Florida LLC | 4.200% | 7/15/48 | 2,153 | 1,761 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Duke Energy Florida LLC | 3.000% | 12/15/51 | 266 | 174 | ||
Duke Energy Florida LLC | 5.950% | 11/15/52 | 2,570 | 2,688 | ||
Duke Energy Indiana LLC | 6.120% | 10/15/35 | 1,191 | 1,231 | ||
Duke Energy Indiana LLC | 6.350% | 8/15/38 | 1,248 | 1,330 | ||
Duke Energy Indiana LLC | 6.450% | 4/1/39 | 1,285 | 1,363 | ||
1 | Duke Energy Indiana LLC | 4.900% | 7/15/43 | 1,817 | 1,646 | |
Duke Energy Indiana LLC | 3.750% | 5/15/46 | 536 | 401 | ||
1 | Duke Energy Indiana LLC | 3.250% | 10/1/49 | 827 | 563 | |
Duke Energy Indiana LLC | 2.750% | 4/1/50 | 1,579 | 964 | ||
Duke Energy Ohio Inc. | 3.700% | 6/15/46 | 829 | 607 | ||
Duke Energy Ohio Inc. | 4.300% | 2/1/49 | 532 | 434 | ||
Duke Energy Ohio Inc. | 5.650% | 4/1/53 | 2,470 | 2,466 | ||
Duke Energy Progress LLC | 6.300% | 4/1/38 | 1,467 | 1,547 | ||
Duke Energy Progress LLC | 4.100% | 5/15/42 | 2,259 | 1,860 | ||
Duke Energy Progress LLC | 4.100% | 3/15/43 | ��� 654 | 532 | ||
Duke Energy Progress LLC | 4.375% | 3/30/44 | 1,306 | 1,104 | ||
Duke Energy Progress LLC | 4.150% | 12/1/44 | 2,277 | 1,861 | ||
Duke Energy Progress LLC | 4.200% | 8/15/45 | 346 | 280 | ||
Duke Energy Progress LLC | 3.700% | 10/15/46 | 2,360 | 1,753 | ||
Duke Energy Progress LLC | 3.600% | 9/15/47 | 751 | 557 | ||
Duke Energy Progress LLC | 2.500% | 8/15/50 | 1,449 | 856 | ||
Duke Energy Progress LLC | 2.900% | 8/15/51 | 1,435 | 912 | ||
Duke Energy Progress LLC | 4.000% | 4/1/52 | 2,452 | 1,922 | ||
Duke Energy Progress LLC | 5.350% | 3/15/53 | 5,080 | 4,924 | ||
1 | Duke Energy Progress NC Storm Funding LLC | 2.387% | 7/1/37 | 825 | 639 | |
El Paso Electric Co. | 6.000% | 5/15/35 | 1,540 | 1,522 | ||
El Paso Electric Co. | 5.000% | 12/1/44 | 588 | 506 | ||
Emera US Finance LP | 4.750% | 6/15/46 | 4,234 | 3,315 | ||
Entergy Arkansas LLC | 5.300% | 9/15/33 | 950 | 948 | ||
Entergy Arkansas LLC | 4.200% | 4/1/49 | 2,713 | 2,171 | ||
Entergy Arkansas LLC | 2.650% | 6/15/51 | 2,830 | 1,683 | ||
Entergy Arkansas LLC | 3.350% | 6/15/52 | 116 | 79 | ||
Entergy Corp. | 3.750% | 6/15/50 | 1,980 | 1,400 | ||
Entergy Louisiana LLC | 3.100% | 6/15/41 | 519 | 378 | ||
Entergy Louisiana LLC | 4.200% | 9/1/48 | 2,589 | 2,076 | ||
Entergy Louisiana LLC | 4.200% | 4/1/50 | 882 | 706 | ||
Entergy Louisiana LLC | 2.900% | 3/15/51 | 2,741 | 1,715 | ||
Entergy Louisiana LLC | 4.750% | 9/15/52 | 2,415 | 2,101 | ||
Entergy Mississippi LLC | 5.000% | 9/1/33 | 1,040 | 1,008 | ||
Entergy Mississippi LLC | 3.850% | 6/1/49 | 2,492 | 1,863 | ||
Entergy Mississippi LLC | 3.500% | 6/1/51 | 406 | 284 | ||
Entergy Texas Inc. | 3.550% | 9/30/49 | 2,055 | 1,466 | ||
Entergy Texas Inc. | 5.800% | 9/1/53 | 1,000 | 1,009 | ||
Essential Utilities Inc. | 4.276% | 5/1/49 | 1,831 | 1,425 | ||
Essential Utilities Inc. | 3.351% | 4/15/50 | 2,349 | 1,564 | ||
Essential Utilities Inc. | 5.300% | 5/1/52 | 1,953 | 1,770 | ||
Evergy Kansas Central Inc. | 4.125% | 3/1/42 | 1,354 | 1,102 | ||
Evergy Kansas Central Inc. | 4.100% | 4/1/43 | 559 | 444 | ||
Evergy Kansas Central Inc. | 4.250% | 12/1/45 | 631 | 512 | ||
Evergy Kansas Central Inc. | 3.450% | 4/15/50 | 1,189 | 840 | ||
Evergy Kansas Central Inc. | 5.700% | 3/15/53 | 50 | 50 | ||
Evergy Metro Inc. | 5.300% | 10/1/41 | 1,815 | 1,751 | ||
Evergy Metro Inc. | 4.200% | 6/15/47 | 1,215 | 980 | ||
Evergy Metro Inc. | 4.200% | 3/15/48 | 1,791 | 1,457 | ||
1 | Evergy Metro Inc. | 4.125% | 4/1/49 | 2,416 | 1,885 | |
Eversource Energy | 3.450% | 1/15/50 | 1,977 | 1,384 | ||
1 | Exelon Corp. | 4.950% | 6/15/35 | 1,440 | 1,346 | |
Exelon Corp. | 5.625% | 6/15/35 | 2,601 | 2,587 | ||
Exelon Corp. | 5.100% | 6/15/45 | 2,712 | 2,468 | ||
Exelon Corp. | 4.450% | 4/15/46 | 2,426 | 2,003 | ||
Exelon Corp. | 4.700% | 4/15/50 | 3,840 | 3,258 | ||
Exelon Corp. | 4.100% | 3/15/52 | 2,697 | 2,077 | ||
Exelon Corp. | 5.600% | 3/15/53 | 1,660 | 1,602 | ||
Florida Power & Light Co. | 5.625% | 4/1/34 | 664 | 691 | ||
Florida Power & Light Co. | 4.950% | 6/1/35 | 3,000 | 2,940 | ||
Florida Power & Light Co. | 5.650% | 2/1/37 | 98 | 100 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Florida Power & Light Co. | 5.950% | 2/1/38 | 1,582 | 1,656 | ||
Florida Power & Light Co. | 5.960% | 4/1/39 | 1,140 | 1,201 | ||
Florida Power & Light Co. | 5.690% | 3/1/40 | 1,200 | 1,230 | ||
Florida Power & Light Co. | 5.250% | 2/1/41 | 2,900 | 2,839 | ||
Florida Power & Light Co. | 4.125% | 2/1/42 | 2,484 | 2,111 | ||
Florida Power & Light Co. | 4.050% | 6/1/42 | 2,152 | 1,814 | ||
Florida Power & Light Co. | 3.800% | 12/15/42 | 1,404 | 1,145 | ||
Florida Power & Light Co. | 4.050% | 10/1/44 | 880 | 738 | ||
Florida Power & Light Co. | 3.700% | 12/1/47 | 2,636 | 2,047 | ||
Florida Power & Light Co. | 3.950% | 3/1/48 | 4,328 | 3,509 | ||
Florida Power & Light Co. | 4.125% | 6/1/48 | 1,061 | 885 | ||
Florida Power & Light Co. | 3.990% | 3/1/49 | 671 | 541 | ||
Florida Power & Light Co. | 3.150% | 10/1/49 | 1,692 | 1,181 | ||
Florida Power & Light Co. | 2.875% | 12/4/51 | 3,012 | 1,970 | ||
Florida Power & Light Co. | 5.300% | 4/1/53 | 3,305 | 3,276 | ||
1 | Georgia Power Co. | 4.750% | 9/1/40 | 1,371 | 1,219 | |
Georgia Power Co. | 4.300% | 3/15/42 | 4,744 | 3,968 | ||
Georgia Power Co. | 4.300% | 3/15/43 | 2,003 | 1,648 | ||
1 | Georgia Power Co. | 3.700% | 1/30/50 | 2,480 | 1,836 | |
1 | Georgia Power Co. | 3.250% | 3/15/51 | 2,344 | 1,592 | |
Georgia Power Co. | 5.125% | 5/15/52 | 4,025 | 3,738 | ||
Iberdrola International BV | 6.750% | 7/15/36 | 1,726 | 1,880 | ||
1 | Idaho Power Co. | 4.200% | 3/1/48 | 1,640 | 1,348 | |
1 | Idaho Power Co. | 5.500% | 3/15/53 | 1,625 | 1,597 | |
Indiana Michigan Power Co. | 6.050% | 3/15/37 | 538 | 551 | ||
1 | Indiana Michigan Power Co. | 4.550% | 3/15/46 | 1,298 | 1,129 | |
1 | Indiana Michigan Power Co. | 3.750% | 7/1/47 | 932 | 701 | |
Indiana Michigan Power Co. | 4.250% | 8/15/48 | 1,166 | 942 | ||
Indiana Michigan Power Co. | 3.250% | 5/1/51 | 585 | 397 | ||
Indiana Michigan Power Co. | 5.625% | 4/1/53 | 2,145 | 2,164 | ||
Interstate Power & Light Co. | 6.250% | 7/15/39 | 587 | 604 | ||
Interstate Power & Light Co. | 3.700% | 9/15/46 | 974 | 705 | ||
Interstate Power & Light Co. | 3.500% | 9/30/49 | 1,513 | 1,064 | ||
Interstate Power & Light Co. | 3.100% | 11/30/51 | 411 | 260 | ||
ITC Holdings Corp. | 5.300% | 7/1/43 | 1,402 | 1,290 | ||
1 | John Sevier Combined Cycle Generation LLC | 4.626% | 1/15/42 | 777 | 719 | |
Kentucky Utilities Co. | 5.125% | 11/1/40 | 2,511 | 2,354 | ||
Kentucky Utilities Co. | 4.375% | 10/1/45 | 1,520 | 1,248 | ||
Kentucky Utilities Co. | 3.300% | 6/1/50 | 1,445 | 995 | ||
Louisville Gas & Electric Co. | 4.250% | 4/1/49 | 2,217 | 1,797 | ||
1 | MidAmerican Energy Co. | 5.750% | 11/1/35 | 1,777 | 1,825 | |
1 | MidAmerican Energy Co. | 5.800% | 10/15/36 | 1,276 | 1,307 | |
MidAmerican Energy Co. | 4.800% | 9/15/43 | 3,048 | 2,739 | ||
MidAmerican Energy Co. | 4.400% | 10/15/44 | 3,110 | 2,652 | ||
MidAmerican Energy Co. | 4.250% | 5/1/46 | 1,295 | 1,062 | ||
MidAmerican Energy Co. | 3.650% | 8/1/48 | 1,220 | 910 | ||
MidAmerican Energy Co. | 4.250% | 7/15/49 | 2,102 | 1,729 | ||
MidAmerican Energy Co. | 3.150% | 4/15/50 | 3,066 | 2,070 | ||
MidAmerican Energy Co. | 2.700% | 8/1/52 | 300 | 182 | ||
1 | Mississippi Power Co. | 4.250% | 3/15/42 | 1,824 | 1,490 | |
1 | Mississippi Power Co. | 3.100% | 7/30/51 | 511 | 324 | |
National Grid USA | 5.803% | 4/1/35 | 1,345 | 1,325 | ||
National Rural Utilities Cooperative Finance Corp. | 4.400% | 11/1/48 | 947 | 780 | ||
National Rural Utilities Cooperative Finance Corp. | 4.300% | 3/15/49 | 494 | 401 | ||
1 | Nevada Power Co. | 6.650% | 4/1/36 | 2,011 | 2,136 | |
1 | Nevada Power Co. | 6.750% | 7/1/37 | 1,037 | 1,115 | |
1 | Nevada Power Co. | 3.125% | 8/1/50 | 1,142 | 725 | |
1 | Nevada Power Co. | 5.900% | 5/1/53 | 992 | 997 | |
NextEra Energy Capital Holdings Inc. | 3.000% | 1/15/52 | 2,290 | 1,455 | ||
NextEra Energy Capital Holdings Inc. | 5.250% | 2/28/53 | 4,705 | 4,357 | ||
NiSource Inc. | 5.950% | 6/15/41 | 443 | 446 | ||
NiSource Inc. | 5.250% | 2/15/43 | 2,021 | 1,877 | ||
NiSource Inc. | 4.800% | 2/15/44 | 4,433 | 3,866 | ||
NiSource Inc. | 5.650% | 2/1/45 | 2,195 | 2,099 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
NiSource Inc. | 4.375% | 5/15/47 | 5,274 | 4,321 | ||
NiSource Inc. | 3.950% | 3/30/48 | 2,372 | 1,811 | ||
NiSource Inc. | 5.000% | 6/15/52 | 578 | 511 | ||
Northern States Power Co. | 6.250% | 6/1/36 | 655 | 702 | ||
Northern States Power Co. | 6.200% | 7/1/37 | 1,253 | 1,332 | ||
Northern States Power Co. | 5.350% | 11/1/39 | 2,092 | 2,052 | ||
Northern States Power Co. | 3.400% | 8/15/42 | 1,160 | 882 | ||
Northern States Power Co. | 4.125% | 5/15/44 | 345 | 285 | ||
Northern States Power Co. | 4.000% | 8/15/45 | 1,378 | 1,098 | ||
Northern States Power Co. | 3.600% | 5/15/46 | 3,066 | 2,317 | ||
Northern States Power Co. | 3.600% | 9/15/47 | 1,042 | 786 | ||
Northern States Power Co. | 2.900% | 3/1/50 | 2,322 | 1,528 | ||
Northern States Power Co. | 2.600% | 6/1/51 | 1,774 | 1,083 | ||
Northern States Power Co. | 3.200% | 4/1/52 | 135 | 92 | ||
Northern States Power Co. | 4.500% | 6/1/52 | 2,506 | 2,169 | ||
Northern States Power Co. | 5.100% | 5/15/53 | 2,669 | 2,527 | ||
NorthWestern Corp. | 4.176% | 11/15/44 | 1,544 | 1,233 | ||
NSTAR Electric Co. | 5.500% | 3/15/40 | 1,451 | 1,427 | ||
NSTAR Electric Co. | 4.400% | 3/1/44 | 1,082 | 930 | ||
NSTAR Electric Co. | 4.550% | 6/1/52 | 1,515 | 1,314 | ||
NSTAR Electric Co. | 4.950% | 9/15/52 | 1,441 | 1,344 | ||
Oglethorpe Power Corp. | 5.950% | 11/1/39 | 470 | 463 | ||
Oglethorpe Power Corp. | 5.375% | 11/1/40 | 2,180 | 1,971 | ||
Oglethorpe Power Corp. | 4.500% | 4/1/47 | 435 | 347 | ||
Oglethorpe Power Corp. | 5.050% | 10/1/48 | 1,655 | 1,427 | ||
Oglethorpe Power Corp. | 3.750% | 8/1/50 | 1,406 | 1,000 | ||
Oglethorpe Power Corp. | 5.250% | 9/1/50 | 2,045 | 1,828 | ||
Ohio Power Co. | 4.150% | 4/1/48 | 1,610 | 1,287 | ||
Ohio Power Co. | 4.000% | 6/1/49 | 1,982 | 1,546 | ||
1 | Ohio Power Co. | 2.900% | 10/1/51 | 1,325 | 838 | |
Oklahoma Gas & Electric Co. | 4.150% | 4/1/47 | 1,190 | 946 | ||
Oklahoma Gas & Electric Co. | 3.850% | 8/15/47 | 949 | 720 | ||
Oklahoma Gas & Electric Co. | 5.600% | 4/1/53 | 1,120 | 1,113 | ||
Oncor Electric Delivery Co. LLC | 7.500% | 9/1/38 | 1,460 | 1,741 | ||
Oncor Electric Delivery Co. LLC | 5.250% | 9/30/40 | 1,045 | 1,032 | ||
Oncor Electric Delivery Co. LLC | 4.550% | 12/1/41 | 1,432 | 1,279 | ||
Oncor Electric Delivery Co. LLC | 5.300% | 6/1/42 | 1,754 | 1,730 | ||
Oncor Electric Delivery Co. LLC | 3.750% | 4/1/45 | 428 | 338 | ||
Oncor Electric Delivery Co. LLC | 3.800% | 9/30/47 | 1,612 | 1,258 | ||
Oncor Electric Delivery Co. LLC | 4.100% | 11/15/48 | 2,825 | 2,296 | ||
Oncor Electric Delivery Co. LLC | 3.800% | 6/1/49 | 2,458 | 1,900 | ||
1 | Oncor Electric Delivery Co. LLC | 3.100% | 9/15/49 | 2,290 | 1,559 | |
Oncor Electric Delivery Co. LLC | 2.700% | 11/15/51 | 340 | 209 | ||
Oncor Electric Delivery Co. LLC | 4.600% | 6/1/52 | 1,891 | 1,677 | ||
Oncor Electric Delivery Co. LLC | 4.950% | 9/15/52 | 1,500 | 1,393 | ||
2 | Oncor Electric Delivery Co. LLC | 4.950% | 9/15/52 | 1,323 | 1,224 | |
Oncor Electric Delivery Co. LLC | 5.350% | 10/1/52 | 1,051 | 1,031 | ||
ONE Gas Inc. | 4.658% | 2/1/44 | 357 | 308 | ||
ONE Gas Inc. | 4.500% | 11/1/48 | 1,392 | 1,148 | ||
Pacific Gas & Electric Co. | 4.500% | 7/1/40 | 5,285 | 4,077 | ||
Pacific Gas & Electric Co. | 3.300% | 8/1/40 | 4,029 | 2,707 | ||
Pacific Gas & Electric Co. | 4.200% | 6/1/41 | 4,287 | 3,114 | ||
Pacific Gas & Electric Co. | 3.750% | 8/15/42 | 1,061 | 714 | ||
Pacific Gas & Electric Co. | 4.750% | 2/15/44 | 4,085 | 3,130 | ||
Pacific Gas & Electric Co. | 4.300% | 3/15/45 | 1,034 | 723 | ||
Pacific Gas & Electric Co. | 3.950% | 12/1/47 | 3,692 | 2,457 | ||
Pacific Gas & Electric Co. | 4.950% | 7/1/50 | 10,079 | 7,800 | ||
Pacific Gas & Electric Co. | 3.500% | 8/1/50 | 5,389 | 3,394 | ||
Pacific Gas & Electric Co. | 5.250% | 3/1/52 | 1,458 | 1,151 | ||
Pacific Gas & Electric Co. | 6.750% | 1/15/53 | 5,115 | 4,977 | ||
Pacific Gas & Electric Co. | 6.700% | 4/1/53 | 3,495 | 3,400 | ||
PacifiCorp | 5.250% | 6/15/35 | 1,782 | 1,650 | ||
PacifiCorp | 6.100% | 8/1/36 | 613 | 616 | ||
PacifiCorp | 5.750% | 4/1/37 | 1,154 | 1,134 | ||
PacifiCorp | 6.250% | 10/15/37 | 1,028 | 1,050 | ||
PacifiCorp | 6.350% | 7/15/38 | 1,520 | 1,550 | ||
PacifiCorp | 6.000% | 1/15/39 | 1,421 | 1,413 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
PacifiCorp | 4.100% | 2/1/42 | 730 | 554 | ||
PacifiCorp | 4.125% | 1/15/49 | 933 | 681 | ||
PacifiCorp | 4.150% | 2/15/50 | 4,323 | 3,177 | ||
PacifiCorp | 3.300% | 3/15/51 | 2,990 | 1,910 | ||
PacifiCorp | 2.900% | 6/15/52 | 662 | 390 | ||
PacifiCorp | 5.350% | 12/1/53 | 3,722 | 3,212 | ||
PacifiCorp | 5.500% | 5/15/54 | 4,215 | 3,727 | ||
PECO Energy Co. | 5.950% | 10/1/36 | 588 | 614 | ||
PECO Energy Co. | 4.150% | 10/1/44 | 956 | 786 | ||
PECO Energy Co. | 3.700% | 9/15/47 | 240 | 184 | ||
PECO Energy Co. | 3.900% | 3/1/48 | 2,157 | 1,717 | ||
PECO Energy Co. | 3.000% | 9/15/49 | ��269 | 179 | ||
PECO Energy Co. | 2.800% | 6/15/50 | 1,144 | 724 | ||
PECO Energy Co. | 3.050% | 3/15/51 | 395 | 262 | ||
PECO Energy Co. | 2.850% | 9/15/51 | 1,920 | 1,216 | ||
PECO Energy Co. | 4.600% | 5/15/52 | 616 | 541 | ||
Piedmont Natural Gas Co. Inc. | 4.650% | 8/1/43 | 740 | 638 | ||
Piedmont Natural Gas Co. Inc. | 3.640% | 11/1/46 | 1,076 | 754 | ||
Piedmont Natural Gas Co. Inc. | 3.350% | 6/1/50 | 1,329 | 871 | ||
Piedmont Natural Gas Co. Inc. | 5.050% | 5/15/52 | 1,443 | 1,272 | ||
Potomac Electric Power Co. | 6.500% | 11/15/37 | 878 | 959 | ||
Potomac Electric Power Co. | 4.150% | 3/15/43 | 1,686 | 1,404 | ||
PPL Electric Utilities Corp. | 6.250% | 5/15/39 | 428 | 457 | ||
PPL Electric Utilities Corp. | 4.750% | 7/15/43 | 535 | 483 | ||
PPL Electric Utilities Corp. | 4.125% | 6/15/44 | 1,412 | 1,162 | ||
PPL Electric Utilities Corp. | 4.150% | 10/1/45 | 631 | 522 | ||
PPL Electric Utilities Corp. | 3.950% | 6/1/47 | 1,995 | 1,606 | ||
PPL Electric Utilities Corp. | 4.150% | 6/15/48 | 1,543 | 1,272 | ||
PPL Electric Utilities Corp. | 3.000% | 10/1/49 | 300 | 203 | ||
PPL Electric Utilities Corp. | 5.250% | 5/15/53 | 2,500 | 2,430 | ||
Progress Energy Inc. | 6.000% | 12/1/39 | 2,409 | 2,422 | ||
1 | Public Service Co. of Colorado | 6.250% | 9/1/37 | 1,745 | 1,820 | |
Public Service Co. of Colorado | 6.500% | 8/1/38 | 382 | 405 | ||
Public Service Co. of Colorado | 3.600% | 9/15/42 | 1,156 | 877 | ||
Public Service Co. of Colorado | 4.300% | 3/15/44 | 804 | 668 | ||
Public Service Co. of Colorado | 3.800% | 6/15/47 | 1,529 | 1,147 | ||
Public Service Co. of Colorado | 4.100% | 6/15/48 | 685 | 535 | ||
Public Service Co. of Colorado | 4.050% | 9/15/49 | 3,588 | 2,792 | ||
1 | Public Service Co. of Colorado | 3.200% | 3/1/50 | 1,361 | 915 | |
1 | Public Service Co. of Colorado | 2.700% | 1/15/51 | 1,454 | 875 | |
1 | Public Service Co. of Colorado | 4.500% | 6/1/52 | 3,382 | 2,803 | |
Public Service Co. of Colorado | 5.250% | 4/1/53 | 2,890 | 2,667 | ||
Public Service Co. of New Hampshire | 3.600% | 7/1/49 | 1,020 | 766 | ||
Public Service Co. of New Hampshire | 5.150% | 1/15/53 | 1,614 | 1,571 | ||
1 | Public Service Co. of Oklahoma | 3.150% | 8/15/51 | 1,036 | 676 | |
1 | Public Service Electric & Gas Co. | 5.800% | 5/1/37 | 820 | 838 | |
1 | Public Service Electric & Gas Co. | 5.500% | 3/1/40 | 1,200 | 1,206 | |
1 | Public Service Electric & Gas Co. | 3.950% | 5/1/42 | 1,365 | 1,138 | |
1 | Public Service Electric & Gas Co. | 3.650% | 9/1/42 | 928 | 732 | |
1 | Public Service Electric & Gas Co. | 3.800% | 1/1/43 | 430 | 348 | |
1 | Public Service Electric & Gas Co. | 3.800% | 3/1/46 | 2,663 | 2,108 | |
1 | Public Service Electric & Gas Co. | 3.600% | 12/1/47 | 560 | 427 | |
1 | Public Service Electric & Gas Co. | 4.050% | 5/1/48 | 764 | 628 | |
1 | Public Service Electric & Gas Co. | 3.850% | 5/1/49 | 1,393 | 1,102 | |
1 | Public Service Electric & Gas Co. | 3.200% | 8/1/49 | 1,005 | 710 | |
1 | Public Service Electric & Gas Co. | 3.150% | 1/1/50 | 1,119 | 787 | |
1 | Public Service Electric & Gas Co. | 2.700% | 5/1/50 | 1,313 | 842 | |
1 | Public Service Electric & Gas Co. | 2.050% | 8/1/50 | 1,404 | 789 | |
1 | Public Service Electric & Gas Co. | 5.125% | 3/15/53 | 2,620 | 2,558 | |
Puget Sound Energy Inc. | 6.274% | 3/15/37 | 1,307 | 1,353 | ||
Puget Sound Energy Inc. | 5.757% | 10/1/39 | 521 | 515 | ||
Puget Sound Energy Inc. | 5.795% | 3/15/40 | 324 | 321 | ||
Puget Sound Energy Inc. | 5.638% | 4/15/41 | 894 | 875 | ||
Puget Sound Energy Inc. | 4.300% | 5/20/45 | 1,243 | 1,006 | ||
Puget Sound Energy Inc. | 4.223% | 6/15/48 | 2,179 | 1,767 | ||
Puget Sound Energy Inc. | 3.250% | 9/15/49 | 1,665 | 1,136 | ||
Puget Sound Energy Inc. | 2.893% | 9/15/51 | 900 | 565 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Puget Sound Energy Inc. | 5.448% | 6/1/53 | 625 | 611 | ||
San Diego Gas & Electric Co. | 6.000% | 6/1/39 | 1,020 | 1,039 | ||
San Diego Gas & Electric Co. | 4.500% | 8/15/40 | 861 | 763 | ||
1 | San Diego Gas & Electric Co. | 3.750% | 6/1/47 | 695 | 526 | |
San Diego Gas & Electric Co. | 4.150% | 5/15/48 | 1,325 | 1,073 | ||
1 | San Diego Gas & Electric Co. | 4.100% | 6/15/49 | 1,644 | 1,301 | |
1 | San Diego Gas & Electric Co. | 3.320% | 4/15/50 | 1,221 | 837 | |
1 | San Diego Gas & Electric Co. | 2.950% | 8/15/51 | 2,485 | 1,618 | |
San Diego Gas & Electric Co. | 3.700% | 3/15/52 | 1,900 | 1,414 | ||
San Diego Gas & Electric Co. | 5.350% | 4/1/53 | 2,700 | 2,615 | ||
Sempra | 3.800% | 2/1/38 | 3,081 | 2,509 | ||
Sempra | 6.000% | 10/15/39 | 2,375 | 2,370 | ||
Sempra | 4.000% | 2/1/48 | 1,200 | 918 | ||
Southern California Edison Co. | 6.000% | 1/15/34 | 397 | 411 | ||
1 | Southern California Edison Co. | 5.750% | 4/1/35 | 998 | 1,006 | |
1 | Southern California Edison Co. | 5.350% | 7/15/35 | 1,035 | 1,025 | |
Southern California Edison Co. | 5.625% | 2/1/36 | 889 | 875 | ||
1 | Southern California Edison Co. | 5.550% | 1/15/37 | 1,581 | 1,537 | |
1 | Southern California Edison Co. | 5.950% | 2/1/38 | 2,710 | 2,757 | |
Southern California Edison Co. | 6.050% | 3/15/39 | 1,869 | 1,886 | ||
Southern California Edison Co. | 5.500% | 3/15/40 | 3,087 | 2,980 | ||
Southern California Edison Co. | 4.500% | 9/1/40 | 1,925 | 1,645 | ||
Southern California Edison Co. | 4.050% | 3/15/42 | 1,301 | 1,029 | ||
1 | Southern California Edison Co. | 3.900% | 3/15/43 | 668 | 512 | |
Southern California Edison Co. | 4.650% | 10/1/43 | 3,478 | 2,985 | ||
1 | Southern California Edison Co. | 3.600% | 2/1/45 | 2,756 | 1,990 | |
Southern California Edison Co. | 4.000% | 4/1/47 | 5,352 | 4,143 | ||
1 | Southern California Edison Co. | 4.125% | 3/1/48 | 3,186 | 2,512 | |
1 | Southern California Edison Co. | 4.875% | 3/1/49 | 2,031 | 1,757 | |
Southern California Edison Co. | 3.650% | 2/1/50 | 2,848 | 2,062 | ||
1 | Southern California Edison Co. | 2.950% | 2/1/51 | 1,349 | 856 | |
1 | Southern California Edison Co. | 3.650% | 6/1/51 | 2,714 | 1,935 | |
Southern California Edison Co. | 3.450% | 2/1/52 | 2,225 | 1,520 | ||
1 | Southern California Edison Co. | 5.450% | 6/1/52 | 730 | 686 | |
Southern California Edison Co. | 5.700% | 3/1/53 | 1,710 | 1,659 | ||
Southern California Edison Co. | 5.875% | 12/1/53 | 1,505 | 1,498 | ||
Southern California Gas Co. | 5.125% | 11/15/40 | 1,080 | 1,017 | ||
Southern California Gas Co. | 3.750% | 9/15/42 | 1,048 | 794 | ||
1 | Southern California Gas Co. | 4.125% | 6/1/48 | 606 | 471 | |
1 | Southern California Gas Co. | 4.300% | 1/15/49 | 1,457 | 1,185 | |
1 | Southern California Gas Co. | 3.950% | 2/15/50 | 1,175 | 891 | |
Southern California Gas Co. | 6.350% | 11/15/52 | 2,885 | 3,097 | ||
Southern California Gas Co. | 5.750% | 6/1/53 | 1,910 | 1,890 | ||
Southern Co. | 4.250% | 7/1/36 | 1,883 | 1,641 | ||
Southern Co. | 4.400% | 7/1/46 | 6,321 | 5,204 | ||
Southern Co. Gas Capital Corp. | 5.875% | 3/15/41 | 748 | 737 | ||
Southern Co. Gas Capital Corp. | 4.400% | 6/1/43 | 809 | 648 | ||
Southern Co. Gas Capital Corp. | 3.950% | 10/1/46 | 2,295 | 1,707 | ||
Southern Co. Gas Capital Corp. | 4.400% | 5/30/47 | 3,818 | 3,077 | ||
Southern Power Co. | 5.150% | 9/15/41 | 1,769 | 1,601 | ||
Southern Power Co. | 5.250% | 7/15/43 | 907 | 809 | ||
1 | Southern Power Co. | 4.950% | 12/15/46 | 1,631 | 1,388 | |
Southwest Gas Corp. | 3.800% | 9/29/46 | 1,734 | 1,227 | ||
Southwest Gas Corp. | 4.150% | 6/1/49 | 798 | 598 | ||
Southwestern Electric Power Co. | 6.200% | 3/15/40 | 1,172 | 1,188 | ||
1 | Southwestern Electric Power Co. | 3.900% | 4/1/45 | 588 | 433 | |
1 | Southwestern Electric Power Co. | 3.850% | 2/1/48 | 1,837 | 1,334 | |
Southwestern Electric Power Co. | 3.250% | 11/1/51 | 456 | 295 | ||
Southwestern Public Service Co. | 4.500% | 8/15/41 | 825 | 691 | ||
Southwestern Public Service Co. | 3.400% | 8/15/46 | 717 | 493 | ||
Southwestern Public Service Co. | 3.700% | 8/15/47 | 595 | 436 | ||
1 | Southwestern Public Service Co. | 4.400% | 11/15/48 | 1,140 | 926 | |
Southwestern Public Service Co. | 3.750% | 6/15/49 | 1,353 | 997 | ||
1 | Southwestern Public Service Co. | 3.150% | 5/1/50 | 2,890 | 1,907 | |
Spire Missouri Inc. | 3.300% | 6/1/51 | 641 | 432 | ||
Tampa Electric Co. | 4.100% | 6/15/42 | 1,095 | 894 | ||
Tampa Electric Co. | 4.300% | 6/15/48 | 1,356 | 1,093 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Tampa Electric Co. | 4.450% | 6/15/49 | 2,532 | 2,083 | ||
Tampa Electric Co. | 3.625% | 6/15/50 | 2,000 | 1,441 | ||
Tampa Electric Co. | 3.450% | 3/15/51 | 1,629 | 1,116 | ||
Tampa Electric Co. | 5.000% | 7/15/52 | 910 | 818 | ||
Toledo Edison Co. | 6.150% | 5/15/37 | 839 | 866 | ||
Tucson Electric Power Co. | 4.850% | 12/1/48 | 1,345 | 1,148 | ||
Tucson Electric Power Co. | 4.000% | 6/15/50 | 416 | 311 | ||
Tucson Electric Power Co. | 5.500% | 4/15/53 | 1,990 | 1,918 | ||
Union Electric Co. | 5.300% | 8/1/37 | 963 | 953 | ||
Union Electric Co. | 3.900% | 9/15/42 | 1,236 | 972 | ||
Union Electric Co. | 3.650% | 4/15/45 | 2,517 | 1,875 | ||
Union Electric Co. | 4.000% | 4/1/48 | 3,113 | 2,436 | ||
Union Electric Co. | 3.250% | 10/1/49 | 1,635 | 1,104 | ||
Union Electric Co. | 2.625% | 3/15/51 | 1,370 | 832 | ||
Union Electric Co. | 3.900% | 4/1/52 | 2,049 | 1,608 | ||
Union Electric Co. | 5.450% | 3/15/53 | 2,970 | 2,927 | ||
1 | Virginia Electric & Power Co. | 6.000% | 1/15/36 | 1,357 | 1,403 | |
1 | Virginia Electric & Power Co. | 6.000% | 5/15/37 | 1,491 | 1,534 | |
Virginia Electric & Power Co. | 6.350% | 11/30/37 | 1,680 | 1,753 | ||
Virginia Electric & Power Co. | 8.875% | 11/15/38 | 2,987 | 3,878 | ||
Virginia Electric & Power Co. | 4.000% | 1/15/43 | 564 | 458 | ||
1 | Virginia Electric & Power Co. | 4.650% | 8/15/43 | 4,350 | 3,757 | |
Virginia Electric & Power Co. | 4.450% | 2/15/44 | 2,207 | 1,868 | ||
1 | Virginia Electric & Power Co. | 4.200% | 5/15/45 | 4,189 | 3,374 | |
1 | Virginia Electric & Power Co. | 4.000% | 11/15/46 | 2,283 | 1,754 | |
Virginia Electric & Power Co. | 4.600% | 12/1/48 | 537 | 460 | ||
Virginia Electric & Power Co. | 3.300% | 12/1/49 | 2,400 | 1,665 | ||
Virginia Electric & Power Co. | 2.950% | 11/15/51 | 1,263 | 808 | ||
1 | Virginia Electric & Power Co. | 4.625% | 5/15/52 | 5,330 | 4,563 | |
Virginia Electric & Power Co. | 5.450% | 4/1/53 | 2,090 | 2,023 | ||
Virginia Electric & Power Co. | 5.700% | 8/15/53 | 1,500 | 1,490 | ||
1 | Washington Gas Light Co. | 3.796% | 9/15/46 | 1,513 | 1,116 | |
1 | Washington Gas Light Co. | 3.650% | 9/15/49 | 1,487 | 1,062 | |
Wisconsin Electric Power Co. | 5.700% | 12/1/36 | 415 | 416 | ||
Wisconsin Electric Power Co. | 4.300% | 10/15/48 | 2,812 | 2,353 | ||
Wisconsin Power & Light Co. | 6.375% | 8/15/37 | 1,056 | 1,112 | ||
Wisconsin Power & Light Co. | 3.650% | 4/1/50 | 443 | 319 | ||
Wisconsin Public Service Corp. | 3.671% | 12/1/42 | 749 | 559 | ||
Wisconsin Public Service Corp. | 4.752% | 11/1/44 | 1,129 | 983 | ||
Wisconsin Public Service Corp. | 3.300% | 9/1/49 | 2,205 | 1,527 | ||
Wisconsin Public Service Corp. | 2.850% | 12/1/51 | 1,353 | 858 | ||
Xcel Energy Inc. | 6.500% | 7/1/36 | 1,281 | 1,348 | ||
Xcel Energy Inc. | 3.500% | 12/1/49 | 1,749 | 1,215 | ||
851,662 | ||||||
Total Corporate Bonds (Cost $8,092,210) | 6,859,249 |
Coupon | Shares | Market Value• ($000) | ||||
Temporary Cash Investments (0.3%) | ||||||
Money Market Fund (0.3%) | ||||||
4 | Vanguard Market Liquidity Fund (Cost $23,841) | 5.384% | 238,445 | 23,843 | ||
Total Investments (98.5%) (Cost $8,116,051) | 6,883,092 | |||||
Other Assets and Liabilities—Net (1.5%) | 101,480 | |||||
Net Assets (100%) | 6,984,572 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2023, the aggregate value was $62,199,000, representing 0.9% of net assets. |
3 | Securities with a value of $303,000 have been segregated as initial margin for open futures contracts. |
4 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
DAC—Designated Activity Company. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Long U.S. Treasury Bond | December 2023 | 101 | 12,290 | 155 |
Short Futures Contracts | ||||
Ultra 10-Year U.S. Treasury Note | December 2023 | (32) | (3,715) | (38) |
117 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $8,092,210) | 6,859,249 |
Affiliated Issuers (Cost $23,841) | 23,843 |
Total Investments in Securities | 6,883,092 |
Investment in Vanguard | 227 |
Cash | 787 |
Cash Collateral Received for ETF Capital Activity | 9,584 |
Receivables for Investment Securities Sold | 95,051 |
Receivables for Accrued Income | 104,429 |
Receivables for Capital Shares Issued | 1,279 |
Variation Margin Receivable—Futures Contracts | 17 |
Total Assets | 7,094,466 |
Liabilities | |
Payables for Investment Securities Purchased | 98,472 |
Collateral for ETF Capital Activity | 9,584 |
Payables for Capital Shares Redeemed | 1,239 |
Payables for Distributions | 478 |
Payables to Vanguard | 121 |
Total Liabilities | 109,894 |
Net Assets | 6,984,572 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 8,568,049 |
Total Distributable Earnings (Loss) | (1,583,477) |
Net Assets | 6,984,572 |
ETF Shares—Net Assets | |
Applicable to 82,352,073 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,251,566 |
Net Asset Value Per Share—ETF Shares | $75.91 |
Admiral Shares—Net Assets | |
Applicable to 15,691,839 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 318,804 |
Net Asset Value Per Share—Admiral Shares | $20.32 |
Institutional Shares—Net Assets | |
Applicable to 16,431,031 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 414,202 |
Net Asset Value Per Share—Institutional Shares | $25.21 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 286,519 |
Total Income | 286,519 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 139 |
Management and Administrative—ETF Shares | 1,425 |
Management and Administrative—Admiral Shares | 171 |
Management and Administrative—Institutional Shares | 136 |
Marketing and Distribution—ETF Shares | 311 |
Marketing and Distribution—Admiral Shares | 16 |
Marketing and Distribution—Institutional Shares | 9 |
Custodian Fees | 118 |
Auditing Fees | 54 |
Shareholders’ Reports—ETF Shares | 118 |
Shareholders’ Reports—Admiral Shares | 4 |
Shareholders’ Reports—Institutional Shares | — |
Trustees’ Fees and Expenses | 3 |
Other Expenses | 35 |
Total Expenses | 2,539 |
Expenses Paid Indirectly | (47) |
Net Expenses | 2,492 |
Net Investment Income | 284,027 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | (410,825) |
Futures Contracts | (1,458) |
Realized Net Gain (Loss) | (412,283) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 56,584 |
Futures Contracts | 116 |
Change in Unrealized Appreciation (Depreciation) | 56,700 |
Net Increase (Decrease) in Net Assets Resulting from Operations | (71,556) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,006,000, ($6,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes ($183,092,000) of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 284,027 | 189,807 |
Realized Net Gain (Loss) | (412,283) | (185,003) |
Change in Unrealized Appreciation (Depreciation) | 56,700 | (1,393,901) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (71,556) | (1,389,097) |
Distributions | ||
ETF Shares | (245,908) | (167,480) |
Admiral Shares | (13,799) | (9,804) |
Institutional Shares | (15,296) | (10,486) |
Total Distributions | (275,003) | (187,770) |
Capital Share Transactions | ||
ETF Shares | 2,016,670 | 432,025 |
Admiral Shares | 63,314 | 42,334 |
Institutional Shares | 169,337 | 13,539 |
Net Increase (Decrease) from Capital Share Transactions | 2,249,321 | 487,898 |
Total Increase (Decrease) | 1,902,762 | (1,088,969) |
Net Assets | ||
Beginning of Period | 5,081,810 | 6,170,779 |
End of Period | 6,984,572 | 5,081,810 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $80.54 | $108.31 | $107.01 | $102.86 | $88.35 |
Investment Operations | |||||
Net Investment Income1 | 3.692 | 3.286 | 3.294 | 3.701 | 3.936 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (4.727) | (27.794) | 1.288 | 4.189 | 14.458 |
Total from Investment Operations | (1.035) | (24.508) | 4.582 | 7.890 | 18.394 |
Distributions | |||||
Dividends from Net Investment Income | (3.595) | (3.262) | (3.282) | (3.740) | (3.884) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (3.595) | (3.262) | (3.282) | (3.740) | (3.884) |
Net Asset Value, End of Period | $75.91 | $80.54 | $108.31 | $107.01 | $102.86 |
Total Return | -1.27% | -23.06% | 4.39% | 7.90% | 21.60% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $6,252 | $4,545 | $5,517 | $5,214 | $4,074 |
Ratio of Total Expenses to Average Net Assets | 0.04%3 | 0.04%3 | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 4.79% | 3.47% | 3.10% | 3.60% | 4.36% |
Portfolio Turnover Rate4 | 33% | 31% | 36% | 62% | 47% |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.05, $.01, $.03, $.00, and $.00. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $21.56 | $29.03 | $28.68 | $27.55 | $23.65 |
Investment Operations | |||||
Net Investment Income1 | .984 | .875 | .877 | .988 | 1.053 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (1.260) | (7.473) | .345 | 1.125 | 3.895 |
Total from Investment Operations | (.276) | (6.598) | 1.222 | 2.113 | 4.948 |
Distributions | |||||
Dividends from Net Investment Income | (.964) | (.872) | (.872) | (.983) | (1.048) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (.964) | (.872) | (.872) | (.983) | (1.048) |
Net Asset Value, End of Period | $20.32 | $21.56 | $29.03 | $28.68 | $27.55 |
Total Return3 | -1.25% | -23.10% | 4.37% | 7.87% | 21.64% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $319 | $272 | $314 | $320 | $256 |
Ratio of Total Expenses to Average Net Assets | 0.07%4 | 0.07%4 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 4.75% | 3.44% | 3.08% | 3.58% | 4.34% |
Portfolio Turnover Rate5 | 33% | 31% | 36% | 62% | 47% |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.01, $.00, $.01, $.00, and $.00. |
3 | Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction and account service fees. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $26.76 | $36.02 | $35.59 | $34.18 | $29.36 |
Investment Operations | |||||
Net Investment Income1 | 1.227 | 1.092 | 1.095 | 1.250 | 1.314 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (1.575) | (9.264) | .425 | 1.387 | 4.812 |
Total from Investment Operations | (.348) | (8.172) | 1.520 | 2.637 | 6.126 |
Distributions | |||||
Dividends from Net Investment Income | (1.202) | (1.088) | (1.090) | (1.227) | (1.306) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (1.202) | (1.088) | (1.090) | (1.227) | (1.306) |
Net Asset Value, End of Period | $25.21 | $26.76 | $36.02 | $35.59 | $34.18 |
Total Return3 | -1.28% | -23.05% | 4.37% | 7.91% | 21.58% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $414 | $264 | $340 | $268 | $541 |
Ratio of Total Expenses to Average Net Assets | 0.05%4 | 0.05%4 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 4.78% | 3.46% | 3.09% | 3.68% | 4.36% |
Portfolio Turnover Rate5 | 33% | 31% | 36% | 62% | 47% |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.02, $.00, $.01, $.00, and $.00. |
3 | Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Corporate Bonds | — | 6,859,249 | — | 6,859,249 |
Temporary Cash Investments | 23,843 | — | — | 23,843 |
Total | 23,843 | 6,859,249 | — | 6,883,092 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 155 | — | — | 155 |
Liabilities | ||||
Futures Contracts1 | 38 | — | — | 38 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Paid-in Capital | (183,121) |
Total Distributable Earnings (Loss) | 183,121 |
Amount ($000) | |
Undistributed Ordinary Income | 25,787 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (1,241,682) |
Capital Loss Carryforwards | (367,104) |
Qualified Late-Year Losses | — |
Other Temporary Differences | (478) |
Total | (1,583,477) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 275,003 | 187,770 |
Long-Term Capital Gains | — | — |
Total | 275,003 | 187,770 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 8,124,774 |
Gross Unrealized Appreciation | 15,018 |
Gross Unrealized Depreciation | (1,256,700) |
Net Unrealized Appreciation (Depreciation) | (1,241,682) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued1 | 5,230,203 | 67,719 | 4,419,636 | 47,501 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,213,533) | (41,800) | (3,987,611) | (42,000) | |
Net Increase (Decrease)—ETF Shares | 2,016,670 | 25,919 | 432,025 | 5,501 | |
Admiral Shares | |||||
Issued1 | 99,670 | 4,826 | 99,673 | 4,069 | |
Issued in Lieu of Cash Distributions | 8,810 | 427 | 7,137 | 287 | |
Redeemed | (45,166) | (2,186) | (64,476) | (2,565) | |
Net Increase (Decrease)—Admiral Shares | 63,314 | 3,067 | 42,334 | 1,791 | |
Institutional Shares | |||||
Issued1 | 169,574 | 6,552 | 15,822 | 511 | |
Issued in Lieu of Cash Distributions | 15,296 | 596 | 10,486 | 339 | |
Redeemed | (15,533) | (597) | (12,769) | (401) | |
Net Increase (Decrease)—Institutional Shares | 169,337 | 6,551 | 13,539 | 449 |
1 | Includes purchase fees for fiscal 2023 and 2022 of $3,492,000 and $706,000, respectively (fund totals). |
Philadelphia, Pennsylvania
October 19, 2023
Fund | ($000) |
Short-Term Corporate Bond Index Fund | 4,052 |
Intermediate-Term Corporate Bond Index Fund | 5,765 |
Long-Term Corporate Bond Index Fund | 659 |
Fund | Percentage |
Short-Term Corporate Bond Index Fund | 100.0% |
Intermediate-Term Corporate Bond Index Fund | 100.0 |
Long-Term Corporate Bond Index Fund | 100.0 |
Fund | Percentage |
Short-Term Corporate Bond Index Fund | 79.2% |
Intermediate-Term Corporate Bond Index Fund | 84.2 |
Long-Term Corporate Bond Index Fund | 89.5 |
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. McIsaac | Lauren Valente |
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All rights reserved.
Vanguard Marketing Corporation, Distributor.
1 | |
2 | |
4 | |
7 | |
27 | |
29 |
• | For the 12 months ended August 31, 2023, Vanguard Mortgage-Backed Securities Index Fund returned –1.98% for Institutional Shares, –1.96% for Admiral Shares, and –1.94% for ETF Shares. (Returns for ETF Shares are based on net asset value.) |
• | The Bloomberg U.S. MBS Float Adjusted Index, the benchmark for the fund, returned –1.86% for the 12-month period. By comparison, the U.S. government bond market, as measured by the Bloomberg U.S. Government Float Adjusted Index, returned –2.00%. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks including the Federal Reserve fanned fears of recession and weighed on bond prices, the economy proved more resilient than expected. |
• | The yield of the bellwether 10-year U.S. Treasury bond rose significantly over the period, from 3.19% to 4.11%. Mortgage-backed securities fared worse than corporate bonds but held up better than Treasuries. |
• | The average interest rate for 30-year fixed-rate mortgages rose from 5.55% for the week ended August 31, 2022, to 7.18% for the week ended August 31, 2023. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Mortgage-Backed Securities Index Fund | |||
ETF Shares | $1,000.00 | $1,003.70 | $0.20 |
Admiral™ Shares | 1,000.00 | 1,004.00 | 0.35 |
Institutional Shares | 1,000.00 | 1,003.60 | 0.25 |
Based on Hypothetical 5% Yearly Return | |||
Mortgage-Backed Securities Index Fund | |||
ETF Shares | $1,000.00 | $1,025.00 | $0.20 |
Admiral Shares | 1,000.00 | 1,024.85 | 0.36 |
Institutional Shares | 1,000.00 | 1,024.95 | 0.26 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Mortgage-Backed Securities Index Fund ETF Shares Net Asset Value | -1.94% | -0.32% | 0.97% | $11,011 | |
Mortgage-Backed Securities Index Fund ETF Shares Market Price | -1.88 | -0.31 | 0.99 | 11,041 | |
Bloomberg U.S. MBS Float Adjusted Index | -1.86 | -0.19 | 1.06 | 11,113 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Mortgage-Backed Securities Index Fund Admiral Shares | -1.96% | -0.34% | 0.96% | $10,999 | |
Bloomberg U.S. MBS Float Adjusted Index | -1.86 | -0.19 | 1.06 | 11,113 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.50 | 11,610 |
One Year | Five Years | Since Inception (10/31/2013) | Final Value of a $5,000,000 Investment | ||
Mortgage-Backed Securities Index Fund Institutional Shares | -1.98% | -0.32% | 0.79% | $5,403,104 | |
Bloomberg U.S. MBS Float Adjusted Index | -1.86 | -0.19 | 0.88 | 5,452,475 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 1.36 | 5,708,561 |
Cumulative Returns of ETF Shares: August 31, 2013, Through August 31, 2023 | |||
One Year | Five Years | Ten Years | |
Mortgage-Backed Securities Index Fund ETF Shares Market Price | -1.88% | -1.53% | 10.41% |
Mortgage-Backed Securities Index Fund ETF Shares Net Asset Value | -1.94 | -1.58 | 10.11 |
Bloomberg U.S. MBS Float Adjusted Index | -1.86 | -0.95 | 11.13 |
0 - 10 Years | 2.1% |
10 - 20 Years | 15.2 |
20 - 30 Years | 80.6 |
30 - 40 Years | 2.1 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (99.4%) | ||||||
U.S. Government Securities (0.1%) | ||||||
United States Treasury Note/Bond | 4.000% | 10/31/29 | 14,000 | 13,810 | ||
Conventional Mortgage-Backed Securities (99.3%) | ||||||
1,2 | Freddie Mac Gold Pool | 2.000% | 1/1/28–12/1/31 | 4,030 | 3,700 | |
1,2 | Freddie Mac Gold Pool | 2.500% | 4/1/27–2/1/43 | 64,047 | 58,577 | |
1,2 | Freddie Mac Gold Pool | 3.000% | 1/1/26–6/1/49 | 214,013 | 191,987 | |
1,2 | Freddie Mac Gold Pool | 3.500% | 9/1/25–2/1/49 | 215,722 | 197,894 | |
1,2 | Freddie Mac Gold Pool | 4.000% | 3/1/24–6/1/49 | 161,180 | 152,174 | |
1,2 | Freddie Mac Gold Pool | 4.500% | 3/1/24–11/1/48 | 66,602 | 64,362 | |
1,2 | Freddie Mac Gold Pool | 5.000% | 9/1/23–11/1/48 | 20,915 | 20,827 | |
1,2 | Freddie Mac Gold Pool | 5.500% | 10/1/26–6/1/41 | 18,614 | 18,778 | |
1,2 | Freddie Mac Gold Pool | 6.000% | 1/1/24–5/1/40 | 9,756 | 10,080 | |
1,2 | Freddie Mac Gold Pool | 7.000% | 7/1/28–12/1/38 | 84 | 85 | |
1 | Ginnie Mae I Pool | 2.500% | 6/15/27–6/15/28 | 116 | 105 | |
1 | Ginnie Mae I Pool | 3.000% | 1/15/26–3/15/45 | 11,742 | 10,335 | |
1 | Ginnie Mae I Pool | 3.500% | 2/15/26–9/15/49 | 19,968 | 18,722 | |
1 | Ginnie Mae I Pool | 4.000% | 7/15/24–6/15/49 | 14,194 | 13,436 | |
1 | Ginnie Mae I Pool | 4.500% | 8/15/33–7/15/49 | 19,074 | 18,589 | |
1 | Ginnie Mae I Pool | 5.000% | 3/15/34–4/15/41 | 8,065 | 8,089 | |
1 | Ginnie Mae I Pool | 6.500% | 5/15/24–1/15/39 | 56 | 56 | |
1 | Ginnie Mae I Pool | 7.000% | 10/15/27 | 1 | 1 | |
1 | Ginnie Mae II Pool | 1.500% | 2/20/51–12/20/51 | 18,793 | 14,733 | |
1,3 | Ginnie Mae II Pool | 2.000% | 8/20/50–9/15/53 | 755,280 | 622,541 | |
1,3 | Ginnie Mae II Pool | 2.500% | 6/20/27–9/15/53 | 762,512 | 650,533 | |
1,3,4 | Ginnie Mae II Pool | 3.000% | 10/20/26–9/15/53 | 762,124 | 675,464 | |
1,3 | Ginnie Mae II Pool | 3.500% | 12/20/25–9/15/53 | 583,142 | 535,437 | |
1,3 | Ginnie Mae II Pool | 4.000% | 9/20/25–9/15/53 | 410,313 | 386,263 | |
1,3 | Ginnie Mae II Pool | 4.500% | 2/20/39–9/15/53 | 370,505 | 355,193 | |
1,3 | Ginnie Mae II Pool | 5.000% | 2/20/39–9/15/53 | 344,438 | 336,359 | |
1,3 | Ginnie Mae II Pool | 5.500% | 2/20/49–9/15/53 | 247,923 | 245,702 | |
1,3 | Ginnie Mae II Pool | 6.000% | 12/20/52–9/15/53 | 137,475 | 138,066 | |
1,3 | Ginnie Mae II Pool | 6.500% | 10/20/28–9/15/53 | 67,737 | 68,631 | |
1 | Ginnie Mae II Pool | 7.000% | 4/20/38–2/20/53 | 4,601 | 4,743 | |
1,2 | UMBS Pool | 1.500% | 7/1/35–4/1/52 | 972,864 | 774,864 | |
1,2,3 | UMBS Pool | 2.000% | 11/1/23–9/25/53 | 4,139,805 | 3,376,186 | |
1,2,3 | UMBS Pool | 2.500% | 3/1/27–9/25/53 | 2,939,609 | 2,479,937 | |
1,2,3 | UMBS Pool | 3.000% | 10/1/26–9/25/53 | 1,846,906 | 1,620,635 | |
1,2,3 | UMBS Pool | 3.500% | 8/1/25–9/25/53 | 1,181,072 | 1,073,454 | |
1,2,3 | UMBS Pool | 4.000% | 4/1/24–9/25/53 | 957,235 | 896,259 | |
1,2,3 | UMBS Pool | 4.500% | 9/1/23–9/25/53 | 765,078 | 732,026 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1,2,3 | UMBS Pool | 5.000% | 10/1/23–9/25/53 | 800,685 | 780,390 | |
1,2,3 | UMBS Pool | 5.500% | 11/1/24–9/25/53 | 659,101 | 654,362 | |
1,2,3 | UMBS Pool | 6.000% | 12/1/25–9/25/53 | 344,614 | 347,236 | |
1,2,3 | UMBS Pool | 6.500% | 11/1/52–9/25/53 | 143,603 | 146,448 | |
1,2 | UMBS Pool | 7.000% | 10/1/33–7/1/53 | 6,671 | 6,864 | |
17,710,123 | ||||||
Nonconventional Mortgage-Backed Securities (0.0%) | ||||||
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.290% | 3.838% | 12/1/41 | 16 | 16 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.310% | 4.762% | 9/1/37 | 9 | 9 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.477% | 3.851% | 3/1/43 | 84 | 84 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.552% | 5.418% | 10/1/37 | 17 | 17 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.560% | 6.808% | 7/1/43 | 145 | 149 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.586% | 4.928% | 6/1/43 | 21 | 22 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.627% | 4.127% | 3/1/38 | 2 | 2 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.669% | 5.293% | 10/1/42 | 29 | 30 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.690% | 4.305% | 10/1/39 | 6 | 6 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.690% | 5.940% | 9/1/42 | 113 | 115 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.698% | 4.856% | 8/1/39 | 16 | 16 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.700% | 3.950% | 12/1/40 | 32 | 32 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.734% | 4.579% | 5/1/42 | 8 | 9 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.773% | 4.456% | 5/1/42 | 6 | 7 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.794% | 5.368% | 3/1/42 | 16 | 16 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.795% | 4.144% | 11/1/39 | 4 | 4 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.797% | 4.484% | 8/1/42 | 39 | 39 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.805% | 4.055% | 11/1/41 | 22 | 22 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.807% | 4.198% | 3/1/41 | 21 | 21 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.810% | 4.060% | 10/1/40–12/1/40 | 2 | 2 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.813% | 4.063% | 11/1/41 | 4 | 4 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.813% | 4.073% | 1/1/42 | 28 | 28 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.815% | 4.065% | 11/1/40 | 2 | 2 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.815% | 4.108% | 12/1/41 | 20 | 20 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.815% | 5.449% | 5/1/41 | 11 | 11 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.830% | 4.308% | 4/1/41 | 16 | 16 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.830% | 5.287% | 2/1/42 | 23 | 23 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.835% | 5.210% | 5/1/40 | 1 | 1 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.836% | 4.143% | 2/1/41 | 1 | 1 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.839% | 4.089% | 12/1/39 | 32 | 33 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.862% | 5.428% | 9/1/40 | 15 | 15 | |
1,2,5 | Fannie Mae Pool, 12M USD LIBOR + 1.914% | 5.289% | 4/1/37 | 3 | 3 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640% | 3.890% | 11/1/43 | 42 | 42 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.660% | 3.910% | 10/1/37 | 2 | 2 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.695% | 4.073% | 2/1/37 | 8 | 8 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.745% | 3.995% | 12/1/40 | 5 | 5 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.846% | 4.141% | 2/1/42 | 7 | 7 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 5.848% | 6/1/41 | 10 | 11 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.881% | 5.593% | 6/1/40 | 3 | 3 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.895% | 4.601% | 9/1/40 | 5 | 5 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.898% | 4.686% | 12/1/39 | 4 | 4 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.900% | 6.150% | 6/1/40 | 1 | 2 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910% | 4.389% | 2/1/41 | 23 | 23 | |
1,2,5 | Freddie Mac Non Gold Pool, 12M USD LIBOR + 2.085% | 4.585% | 3/1/38 | 5 | 5 | |
1,5 | Ginnie Mae II Pool, 1YR CMT + 1.500% | 2.625% | 7/20/41–8/20/41 | 30 | 29 | |
1,5 | Ginnie Mae II Pool, 1YR CMT + 1.500% | 2.750% | 11/20/40–12/20/42 | 104 | 101 | |
1,5 | Ginnie Mae II Pool, 1YR CMT + 1.500% | 3.625% | 1/20/41–2/20/41 | 96 | 91 | |
1,5 | Ginnie Mae II Pool, 1YR CMT + 1.500% | 3.875% | 4/20/41 | 2 | 2 | |
1,5 | Ginnie Mae II Pool, 1YR CMT + 2.000% | 4.250% | 11/20/40 | 2 | 2 | |
1,5 | Ginnie Mae II Pool, 1YR CMT + 2.000% | 4.375% | 5/20/41 | 1 | 1 | |
1,118 | ||||||
Total U.S. Government and Agency Obligations (Cost $19,810,800) | 17,725,051 | |||||
Shares | ||||||
Temporary Cash Investments (3.1%) | ||||||
Money Market Fund (3.1%) | ||||||
6 | Vanguard Market Liquidity Fund (Cost $550,252) | 5.384% | 5,503,684 | 550,313 | ||
Total Investments (102.5%) (Cost $20,361,052) | 18,275,364 | |||||
Other Assets and Liabilities—Net (-2.5%) | (453,757) | |||||
Net Assets (100%) | 17,821,607 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
2 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
3 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of August 31, 2023. |
4 | Securities with a value of $618,000 have been segregated as initial margin for open futures contracts. |
5 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
6 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
12M—12-month. | |
1YR—1-year. | |
CMT—Constant Maturing Treasury Rate. | |
LIBOR—London Interbank Offered Rate. | |
UMBS—Uniform Mortgage-Backed Securities. | |
USD—U.S. dollar. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Ultra 10-Year U.S. Treasury Note | December 2023 | 175 | 20,319 | 231 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $19,810,800) | 17,725,051 |
Affiliated Issuers (Cost $550,252) | 550,313 |
Total Investments in Securities | 18,275,364 |
Investment in Vanguard | 581 |
Cash | 32 |
Receivables for Investment Securities Sold | 280,509 |
Receivables for Accrued Income | 52,649 |
Receivables for Capital Shares Issued | 25,205 |
Variation Margin Receivable—Futures Contracts | 49 |
Total Assets | 18,634,389 |
Liabilities | |
Payables for Investment Securities Purchased | 807,012 |
Payables for Capital Shares Redeemed | 4,637 |
Payables for Distributions | 808 |
Payables to Vanguard | 325 |
Total Liabilities | 812,782 |
Net Assets | 17,821,607 |
Statement of Assets and Liabilities (continued) | |
At August 31, 2023, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 20,294,454 |
Total Distributable Earnings (Loss) | (2,472,847) |
Net Assets | 17,821,607 |
ETF Shares—Net Assets | |
Applicable to 361,310,355 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,342,516 |
Net Asset Value Per Share—ETF Shares | $45.23 |
Admiral Shares—Net Assets | |
Applicable to 68,852,134 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,242,473 |
Net Asset Value Per Share—Admiral Shares | $18.05 |
Institutional Shares—Net Assets | |
Applicable to 9,676,789 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 236,618 |
Net Asset Value Per Share—Institutional Shares | $24.45 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 517,463 |
Total Income | 517,463 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 363 |
Management and Administrative—ETF Shares | 4,000 |
Management and Administrative—Admiral Shares | 686 |
Management and Administrative—Institutional Shares | 91 |
Marketing and Distribution—ETF Shares | 661 |
Marketing and Distribution—Admiral Shares | 67 |
Marketing and Distribution—Institutional Shares | 9 |
Custodian Fees | 142 |
Auditing Fees | 38 |
Shareholders’ Reports—ETF Shares | 889 |
Shareholders’ Reports—Admiral Shares | 50 |
Shareholders’ Reports—Institutional Shares | — |
Trustees’ Fees and Expenses | 9 |
Other Expenses | 21 |
Total Expenses | 7,026 |
Expenses Paid Indirectly | (55) |
Net Expenses | 6,971 |
Net Investment Income | 510,492 |
Realized Net Gain (Loss) | |
Investment Securities Sold1 | (295,730) |
Futures Contracts | (1,422) |
Realized Net Gain (Loss) | (297,152) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (522,356) |
Futures Contracts | 231 |
Change in Unrealized Appreciation (Depreciation) | (522,125) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (308,785) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $15,217,000, $236,000, $1,000, and ($54,000), respectively. Purchases and sales are for temporary cash investment purposes. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 510,492 | 269,246 |
Realized Net Gain (Loss) | (297,152) | (124,045) |
Change in Unrealized Appreciation (Depreciation) | (522,125) | (1,756,647) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (308,785) | (1,611,446) |
Distributions | ||
ETF Shares | (450,787) | (229,467) |
Admiral Shares | (36,725) | (21,594) |
Institutional Shares | (6,820) | (2,331) |
Total Distributions | (494,332) | (253,392) |
Capital Share Transactions | ||
ETF Shares | 2,666,471 | 1,036,092 |
Admiral Shares | 87,714 | (37,825) |
Institutional Shares | 67,440 | 73,757 |
Net Increase (Decrease) from Capital Share Transactions | 2,821,625 | 1,072,024 |
Total Increase (Decrease) | 2,018,508 | (792,814) |
Net Assets | ||
Beginning of Period | 15,803,099 | 16,595,913 |
End of Period | 17,821,607 | 15,803,099 |
ETF Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $47.53 | $53.47 | $54.36 | $53.26 | $51.38 |
Investment Operations | |||||
Net Investment Income1 | 1.424 | .842 | .581 | 1.197 | 1.564 |
Net Realized and Unrealized Gain (Loss) on Investments | (2.344) | (5.995) | (.768) | 1.146 | 1.859 |
Total from Investment Operations | (.920) | (5.153) | (.187) | 2.343 | 3.423 |
Distributions | |||||
Dividends from Net Investment Income | (1.380) | (.787) | (.594) | (1.243) | (1.543) |
Distributions from Realized Capital Gains | — | — | (.109) | — | — |
Total Distributions | (1.380) | (.787) | (.703) | (1.243) | (1.543) |
Net Asset Value, End of Period | $45.23 | $47.53 | $53.47 | $54.36 | $53.26 |
Total Return | -1.94% | -9.71% | -0.35% | 4.45% | 6.80% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $16,343 | $14,405 | $15,055 | $11,643 | $10,316 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04%2 | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 3.10% | 1.67% | 1.08% | 2.22% | 3.01% |
Portfolio Turnover Rate3 | 101% | 170% | 316% | 218% | 190% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Includes 80%, 113%, 237%, 11%, and 34%, respectively, attributable to mortgage-dollar-roll activity. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $18.98 | $21.37 | $21.72 | $21.26 | $20.51 |
Investment Operations | |||||
Net Investment Income1 | .563 | .328 | .211 | .470 | .622 |
Net Realized and Unrealized Gain (Loss) on Investments | (.934) | (2.391) | (.292) | .463 | .742 |
Total from Investment Operations | (.371) | (2.063) | (.081) | .933 | 1.364 |
Distributions | |||||
Dividends from Net Investment Income | (.559) | (.327) | (.225) | (.473) | (.614) |
Distributions from Realized Capital Gains | — | — | (.044) | — | — |
Total Distributions | (.559) | (.327) | (.269) | (.473) | (.614) |
Net Asset Value, End of Period | $18.05 | $18.98 | $21.37 | $21.72 | $21.26 |
Total Return2 | -1.96% | -9.72% | -0.38% | 4.43% | 6.77% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,242 | $1,219 | $1,419 | $1,159 | $841 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 3.07% | 1.62% | 0.98% | 2.18% | 2.99% |
Portfolio Turnover Rate4 | 101% | 170% | 316% | 218% | 190% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Includes 80%, 113%, 237%, 11%, and 34%, respectively, attributable to mortgage-dollar-roll activity. |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $25.72 | $28.96 | $29.44 | $28.81 | $27.79 |
Investment Operations | |||||
Net Investment Income1 | .771 | .467 | .393 | .641 | .846 |
Net Realized and Unrealized Gain (Loss) on Investments | (1.278) | (3.258) | (.503) | .636 | 1.011 |
Total from Investment Operations | (.507) | (2.791) | (.110) | 1.277 | 1.857 |
Distributions | |||||
Dividends from Net Investment Income | (.763) | (.449) | (.311) | (.647) | (.837) |
Distributions from Realized Capital Gains | — | — | (.059) | — | — |
Total Distributions | (.763) | (.449) | (.370) | (.647) | (.837) |
Net Asset Value, End of Period | $24.45 | $25.72 | $28.96 | $29.44 | $28.81 |
Total Return | -1.98% | -9.70% | -0.38% | 4.48% | 6.80% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $237 | $179 | $122 | $171 | $119 |
Ratio of Total Expenses to Average Net Assets | 0.05%2 | 0.05%2 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 3.10% | 1.71% | 1.35% | 2.20% | 3.01% |
Portfolio Turnover Rate3 | 101% | 170% | 316% | 218% | 190% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
3 | Includes 80%, 113%, 237%, 11%, and 34%, respectively, attributable to mortgage-dollar-roll activity. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 17,725,051 | — | 17,725,051 |
Temporary Cash Investments | 550,313 | — | — | 550,313 |
Total | 550,313 | 17,725,051 | — | 18,275,364 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 231 | — | — | 231 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Undistributed Ordinary Income | 48,248 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (2,104,087) |
Capital Loss Carryforwards | (416,200) |
Qualified Late-Year Losses | — |
Other Temporary Differences | (808) |
Total | (2,472,847) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 494,332 | 253,392 |
Long-Term Capital Gains | — | — |
Total | 494,332 | 253,392 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 20,379,451 |
Gross Unrealized Appreciation | 8,143 |
Gross Unrealized Depreciation | (2,112,230) |
Net Unrealized Appreciation (Depreciation) | (2,104,087) |
Year Ended August 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 3,283,280 | 71,834 | 3,012,787 | 60,434 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (616,809) | (13,575) | (1,976,695) | (38,950) | |
Net Increase (Decrease)—ETF Shares | 2,666,471 | 58,259 | 1,036,092 | 21,484 | |
Admiral Shares | |||||
Issued | 507,368 | 27,567 | 518,758 | 25,847 | |
Issued in Lieu of Cash Distributions | 28,376 | 1,549 | 16,300 | 816 | |
Redeemed | (448,030) | (24,490) | (572,883) | (28,821) | |
Net Increase (Decrease)—Admiral Shares | 87,714 | 4,626 | (37,825) | (2,158) | |
Institutional Shares | |||||
Issued | 88,292 | 3,568 | 95,097 | 3,492 | |
Issued in Lieu of Cash Distributions | 6,744 | 272 | 2,331 | 87 | |
Redeemed | (27,596) | (1,116) | (23,671) | (853) | |
Net Increase (Decrease)—Institutional Shares | 67,440 | 2,724 | 73,757 | 2,726 |
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1 | |
2 | |
4 | |
7 | |
18 | |
20 |
• | For the 12 months ended August 31, 2023, Vanguard Total Corporate Bond ETF returned 1.13% (based on net asset value), roughly in line with the 0.90% return of its expense-free benchmark. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by many major central banks including the Federal Reserve fanned fears of recession and weighed on bond prices, the economy proved more resilient than expected. |
• | The yield of the bellwether 10-year U.S. Treasury bond rose significantly over the period, from 3.19% to 4.11%. With yield spreads narrowing for corporate bonds, they outperformed both Treasuries and mortgage-backed securities. |
• | By sector, returns were positive for bonds issued by industrial companies and financial institutions and negative for bonds issued by utility companies. |
• | By maturity, the positive returns from shorter-dated corporate bonds in the index more than offset the declines posted by their long-dated counterparts. By credit quality, corporate bonds on the bottom rung of the investment-grade ladder outperformed higher-rated bonds. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Total Corporate Bond ETF | Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period |
Based on Actual Fund Return | $1,000.00 | $1,021.00 | $0.20 |
Based on Hypothetical 5% Yearly Return | 1,000.00 | 1,025.00 | 0.20 |
Average Annual Total Returns Periods Ended August 31, 2023 | |||||
One Year | Five Years | Since Inception (11/7/2017) | Final Value of a $10,000 Investment | ||
Total Corporate Bond ETF Net Asset Value | 1.13% | 1.31% | 0.84% | $10,501 | |
Total Corporate Bond ETF Market Price | 1.15 | 1.31 | 0.84 | 10,500 | |
Bloomberg U.S. Corporate Bond Index | 0.90 | 1.41 | 0.95 | 10,565 | |
Bloomberg U.S. Aggregate Float Adjusted Index | -1.05 | 0.55 | 0.30 | 10,174 |
Cumulative Returns of ETF Shares: November 7, 2017, Through August 31, 2023 | |||
One Year | Five Years | Since Inception (11/7/2017) | |
Total Corporate Bond ETF Market Price | 1.15% | 6.71% | 5.00% |
Total Corporate Bond ETF Net Asset Value | 1.13 | 6.71 | 5.01 |
Bloomberg U.S. Corporate Bond Index | 0.90 | 7.24 | 5.65 |
Vanguard Short-Term Corporate Bond ETF | 39.2% |
Vanguard Long-Term Corporate Bond ETF | 33.4 |
Vanguard Intermediate-Term Corporate Bond ETF | 27.4 |
Shares | Market Value• ($000) | |||||
Investment Companies (100.0%) | ||||||
U.S. Bond Funds (100.0%) | ||||||
Vanguard Short-Term Corporate Bond ETF | 6,119,628 | 463,868 | ||||
Vanguard Long-Term Corporate Bond ETF | 5,190,370 | 394,676 | ||||
Vanguard Intermediate-Term Corporate Bond ETF | 4,140,161 | 324,133 | ||||
Total Investment Companies (Cost $1,297,876) | 1,182,677 | |||||
Temporary Cash Investments (0.0%) | ||||||
Money Market Fund (0.0%) | ||||||
1 | Vanguard Market Liquidity Fund, 5.384% (Cost $486) | 4,863 | 486 | |||
Total Investments (100.0%) (Cost $1,298,362) | 1,183,163 | |||||
Other Assets and Liabilities—Net (0.0%) | (1) | |||||
Net Assets (100%) | 1,183,162 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
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. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value—Affiliated Funds (Cost $1,298,362) | 1,183,163 |
Receivables for Investment Securities Sold | 1,371 |
Receivables for Accrued Income | 2 |
Receivables for Capital Shares Issued | 6 |
Total Assets | 1,184,542 |
Liabilities | |
Payables for Investment Securities Purchased | 1,380 |
Total Liabilities | 1,380 |
Net Assets | 1,183,162 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 1,312,983 |
Total Distributable Earnings (Loss) | (129,821) |
Net Assets | 1,183,162 |
Net Assets | |
Applicable to 15,830,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,183,162 |
Net Asset Value Per Share | $74.74 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Income Distributions Received from Affiliated Funds | 32,421 |
Net Investment Income—Note B | 32,421 |
Realized Net Gain (Loss) | |
Capital Gain Distributions Received from Affiliated Funds | — |
Affiliated Funds Sold1 | (5,962) |
Realized Net Gain (Loss) | (5,962) |
Change in Unrealized Appreciation (Depreciation) from Affiliated Funds | (6,108) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 20,351 |
1 | Includes $3,262,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 32,421 | 16,032 |
Realized Net Gain (Loss) | (5,962) | (9,016) |
Change in Unrealized Appreciation (Depreciation) | (6,108) | (111,968) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 20,351 | (104,952) |
Distributions | ||
Total Distributions | (32,389) | (16,149) |
Capital Share Transactions | ||
Issued | 686,441 | 108,869 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (70,310) | (103,767) |
Net Increase (Decrease) from Capital Share Transactions | 616,131 | 5,102 |
Total Increase (Decrease) | 604,093 | (115,999) |
Net Assets | ||
Beginning of Period | 579,069 | 695,068 |
End of Period | 1,183,162 | 579,069 |
For a Share Outstanding Throughout Each Period | Year Ended August 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $76.60 | $92.55 | $92.62 | $89.19 | $81.59 |
Investment Operations | |||||
Net Investment Income1 | 2.644 | 2.141 | 2.229 | 2.638 | 2.825 |
Capital Gain Distributions Received1 | — | .237 | .053 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (1.806) | (16.168) | (.131) | 3.614 | 7.717 |
Total from Investment Operations | .838 | (13.790) | 2.151 | 6.252 | 10.542 |
Distributions | |||||
Dividends from Net Investment Income | (2.698) | (2.148) | (2.221) | (2.822) | (2.942) |
Distributions from Realized Capital Gains | — | (.012) | — | — | — |
Total Distributions | (2.698) | (2.160) | (2.221) | (2.822) | (2.942) |
Net Asset Value, End of Period | $74.74 | $76.60 | $92.55 | $92.62 | $89.19 |
Total Return | 1.13% | -15.11% | 2.37% | 7.18% | 13.29% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,183 | $579 | $695 | $619 | $203 |
Ratio of Total Expenses to Average Net Assets | — | — | — | — | — |
Acquired Fund Fees and Expenses | 0.04% | 0.04% | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 3.52% | 2.52% | 2.43% | 2.94% | 3.38% |
Portfolio Turnover Rate2 | 10% | 14% | 10% | 40% | 12% |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Amount ($000) | |
Paid-in Capital | 3,385 |
Total Distributable Earnings (Loss) | (3,385) |
Amount ($000) | |
Undistributed Ordinary Income | 36 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (122,694) |
Capital Loss Carryforwards | (7,163) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (129,821) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 32,389 | 16,149 |
Long-Term Capital Gains | — | — |
Total | 32,389 | 16,149 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 1,305,857 |
Gross Unrealized Appreciation | 5,737 |
Gross Unrealized Depreciation | (128,431) |
Net Unrealized Appreciation (Depreciation) | (122,694) |
Year Ended August 31, | |||
2023 Shares (000) | 2022 Shares (000) | ||
Issued | 9,210 | 1,310 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | (940) | (1,260) | |
Net Increase (Decrease) in Shares Outstanding | 8,270 | 50 |
Current Period Transactions | ||||||||
Aug. 31, 2022 Market Value ($000) | Purchases at Cost1 ($000) | Proceeds from Securities Sold2 ($000) | Realized Net Gain (Loss) ($000) | Change in Unrealized App. (Dep.) ($000) | Income ($000) | Capital Gain Distributions Received ($000) | Aug. 31, 2023 Market Value ($000) | |
Vanguard Intermediate-Term Corporate Bond ETF | 159,976 | 199,168 | 33,151 | (965) | (895) | 8,718 | — | 324,133 |
Vanguard Long-Term Corporate Bond ETF | 203,399 | 271,981 | 69,439 | (4,613) | (6,652) | 14,186 | — | 394,676 |
Vanguard Market Liquidity Fund | 281 | NA3 | NA3 | — | — | 19 | — | 486 |
Vanguard Short-Term Corporate Bond ETF | 215,431 | 308,895 | 61,513 | (384) | 1,439 | 9,498 | — | 463,868 |
Total | 579,087 | 780,044 | 164,103 | (5,962) | (6,108) | 32,421 | — | 1,183,163 |
1 | Includes $686,164,000 of portfolio securities received as a result of in-kind purchases of the fund’s capital shares. |
2 | Includes $70,286,000 of portfolio securities delivered as a result of in-kind redemptions of the fund’s capital shares. |
3 | Not applicable—purchases and sales are for temporary cash investment purposes. |
Philadelphia, Pennsylvania
October 18, 2023
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. McIsaac | Lauren Valente |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
Vanguard Marketing Corporation, Distributor.
1 | |
2 | |
4 | |
7 | |
18 | |
20 |
• | For the 12 months ended August 31, 2023, Vanguard Total World Bond ETF returned –0.03% (based on net asset value), roughly in line with the –0.12% return of its expense-free benchmark. |
• | Early in the period, inflation in many developed markets began to ease off multidecade highs but remained stubbornly high in some sectors—including services, which felt the effects of a tight labor market. While aggressive interest rate hikes by major central banks fanned fears of recession and weighed on bond prices, the economy proved more resilient than expected. |
• | U.S. bonds, which accounted for about half of the ETF’s assets at the end of the period, underperformed the index as a whole. Results for the United Kingdom and Belgium were also subpar. Among the outperformers were China, South Korea, and a number of European countries, including Switzerland, Italy, and Sweden. |
• | Negative returns from government bonds and mortgage-backed securities offset gains posted by corporate bonds, with securities issued by financial institutions and industrial companies performing the best. |
• | By maturity, long-dated bonds lagged. And by credit quality, bonds on the bottom rung of the investment-grade ladder performed better than higher-rated bonds. |
Average Annual Total Returns Periods Ended August 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 15.40% | 9.93% | 10.77% |
Russell 2000 Index (Small-caps) | 4.65 | 8.12 | 3.14 |
Russell 3000 Index (Broad U.S. market) | 14.76 | 9.81 | 10.25 |
FTSE All-World ex US Index (International) | 12.02 | 4.49 | 3.74 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -1.05% | -4.40% | 0.55% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 1.70 | -1.32 | 1.52 |
FTSE Three-Month U.S. Treasury Bill Index | 4.44 | 1.63 | 1.68 |
CPI | |||
Consumer Price Index | 3.67% | 5.71% | 4.02% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended August 31, 2023 | |||
Total World Bond ETF | Beginning Account Value 2/28/2023 | Ending Account Value 8/31/2023 | Expenses Paid During Period |
Based on Actual Fund Return | $1,000.00 | $1,020.20 | $0.25 |
Based on Hypothetical 5% Yearly Return | 1,000.00 | 1,024.95 | 0.26 |
Average Annual Total Returns Periods Ended August 31, 2023 | ||||
One Year | Since Inception (9/4/2018) | Final Value of a $10,000 Investment | ||
Total World Bond ETF Net Asset Value | -0.03% | 0.44% | $10,223 | |
Total World Bond ETF Market Price | -0.07 | 0.44 | 10,220 | |
Bloomberg Global Aggregate Float Adjusted Composite Index | -0.12 | 0.51 | 10,255 |
Cumulative Returns of ETF Shares: September 4, 2018, Through August 31, 2023 | ||
One Year | Since Inception (9/4/2018) | |
Total World Bond ETF Market Price | -0.07% | 2.20% |
Total World Bond ETF Net Asset Value | -0.03 | 2.23 |
Bloomberg Global Aggregate Float Adjusted Composite Index | -0.12 | 2.55 |
Vanguard Total Bond Market ETF | 51.1% |
Vanguard Total International Bond ETF | 48.9 |
Shares | Market Value• ($000) | |||||
Investment Companies (100.0%) | ||||||
U.S. Bond Fund (51.1%) | ||||||
Vanguard Total Bond Market ETF | 4,827,290 | 346,358 | ||||
International Bond Fund (48.9%) | ||||||
Vanguard Total International Bond ETF | 6,804,821 | 331,803 | ||||
Total Investment Companies (Cost $770,840) | 678,161 | |||||
Temporary Cash Investments (0.0%) | ||||||
Money Market Fund (0.0%) | ||||||
1 | Vanguard Market Liquidity Fund, 5.384% (Cost $128) | 1,283 | 128 | |||
Total Investments (100.0%) (Cost $770,968) | 678,289 | |||||
Other Assets and Liabilities—Net (0.0%) | (6) | |||||
Net Assets (100%) | 678,283 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
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. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value—Affiliated Funds (Cost $770,968) | 678,289 |
Receivables for Investment Securities Sold | 2,292 |
Receivables for Accrued Income | 1 |
Total Assets | 680,582 |
Liabilities | |
Payables for Investment Securities Purchased | 2,299 |
Total Liabilities | 2,299 |
Net Assets | 678,283 |
At August 31, 2023, net assets consisted of: | |
Paid-in Capital | 780,025 |
Total Distributable Earnings (Loss) | (101,742) |
Net Assets | 678,283 |
Net Assets | |
Applicable to 9,990,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 678,283 |
Net Asset Value Per Share | $67.90 |
Year Ended August 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Income Distributions Received from Affiliated Funds | 14,472 |
Net Investment Income—Note B | 14,472 |
Realized Net Gain (Loss) | |
Capital Gain Distributions Received from Affiliated Funds | — |
Affiliated Funds Sold1 | (4,654) |
Realized Net Gain (Loss) | (4,654) |
Change in Unrealized Appreciation (Depreciation) from Affiliated Funds | (10,246) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (428) |
1 | Includes $411,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended August 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 14,472 | 15,064 |
Realized Net Gain (Loss) | (4,654) | (3,721) |
Change in Unrealized Appreciation (Depreciation) | (10,246) | (84,542) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (428) | (73,199) |
Distributions | ||
Total Distributions | (14,468) | (15,650) |
Capital Share Transactions | ||
Issued | 179,865 | 209,449 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (56,515) | (132,239) |
Net Increase (Decrease) from Capital Share Transactions | 123,350 | 77,210 |
Total Increase (Decrease) | 108,454 | (11,639) |
Net Assets | ||
Beginning of Period | 569,829 | 581,468 |
End of Period | 678,283 | 569,829 |
For a Share Outstanding Throughout Each Period | Year Ended August 31, | September 4, 20181 to August 31, 2019 | |||
2023 | 2022 | 2021 | 2020 | ||
Net Asset Value, Beginning of Period | $69.58 | $80.76 | $81.56 | $80.97 | $75.00 |
Investment Operations | |||||
Net Investment Income2 | 1.623 | 1.912 | 1.108 | 2.125 | 2.004 |
Capital Gain Distributions Received2 | — | .327 | .146 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (1.668) | (11.356) | (.929) | .782 | 6.071 |
Total from Investment Operations | (.045) | (9.117) | .325 | 2.907 | 8.075 |
Distributions | |||||
Dividends from Net Investment Income | (1.635) | (1.984) | (1.125) | (2.317) | (2.105) |
Distributions from Realized Capital Gains | — | (.079) | — | — | — |
Total Distributions | (1.635) | (2.063) | (1.125) | (2.317) | (2.105) |
Net Asset Value, End of Period | $67.90 | $69.58 | $80.76 | $81.56 | $80.97 |
Total Return | -0.03% | -11.51% | 0.40% | 3.69% | 11.00% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $678 | $570 | $581 | $448 | $160 |
Ratio of Total Expenses to Average Net Assets | — | — | — | — | —3 |
Acquired Fund Fees and Expenses | 0.05% | 0.05% | 0.06% | 0.06% | 0.06%3 |
Ratio of Net Investment Income to Average Net Assets | 2.38% | 2.55% | 1.37% | 2.64% | 2.62%3 |
Portfolio Turnover Rate4 | 14% | 13% | 10% | 19% | 8% |
1 | Inception. |
2 | Calculated based on average shares outstanding. |
3 | Annualized. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Amount ($000) | |
Paid-in Capital | 518 |
Total Distributable Earnings (Loss) | (518) |
Amount ($000) | |
Undistributed Ordinary Income | 11 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (95,916) |
Capital Loss Carryforwards | (5,837) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (101,742) |
Year Ended August 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 14,468 | 15,101 |
Long-Term Capital Gains | — | 549 |
Total | 14,468 | 15,650 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 774,205 |
Gross Unrealized Appreciation | 210 |
Gross Unrealized Depreciation | (96,126) |
Net Unrealized Appreciation (Depreciation) | (95,916) |
Year Ended August 31, | |||
2023 Shares (000) | 2022 Shares (000) | ||
Issued | 2,630 | 2,810 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | (830) | (1,820) | |
Net Increase (Decrease) in Shares Outstanding | 1,800 | 990 |
Current Period Transactions | ||||||||
Aug. 31, 2022 Market Value ($000) | Purchases at Cost1 ($000) | Proceeds from Securities Sold2 ($000) | Realized Net Gain (Loss) ($000) | Change in Unrealized App. (Dep.) ($000) | Income ($000) | Capital Gain Distributions Received ($000) | Aug. 31, 2023 Market Value ($000) | |
Vanguard Market Liquidity Fund | 410 | NA3 | NA3 | — | — | 9 | — | 128 |
Vanguard Total Bond Market ETF | 298,702 | 135,092 | 75,049 | (2,808) | (9,579) | 8,904 | — | 346,358 |
Vanguard Total International Bond ETF | 270,714 | 133,064 | 69,462 | (1,846) | (667) | 5,559 | — | 331,803 |
Total | 569,826 | 268,156 | 144,511 | (4,654) | (10,246) | 14,472 | — | 678,289 |
1 | Includes $179,789,000 of portfolio securities received as a result of in-kind purchases of the fund’s capital shares. |
2 | Includes $56,494,000 of portfolio securities delivered as a result of in-kind redemptions of the fund’s capital shares. |
3 | Not applicable—purchases and sales are for temporary cash investment purposes. |
Philadelphia, Pennsylvania
October 19, 2023
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. McIsaac | Lauren Valente |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Item 2: Code of Ethics.
The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Ethics was amended during the reporting period covered by this report to make certain technical, non-material changes.
Item 3: Audit Committee Financial Expert.
All members of the Audit Committee have been determined by the Registrant’s Board of Trustees to be Audit Committee Financial Experts and to be independent: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.
Item 4: Principal Accountant Fees and Services.
(a) | Audit Fees. |
Audit Fees of the Registrant.
Fiscal Year Ended August 31, 2023: $558,000
Fiscal Year Ended August 31, 2022: $536,000
Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.
Fiscal Year Ended August 31, 2023: $9,326,156
Fiscal Year Ended August 31, 2022: $10,494,508
Includes fees billed in connection with audits of the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(b) | Audit-Related Fees. |
Fiscal Year Ended August 31, 2023: $3,295,934
Fiscal Year Ended August 31, 2022: $2,757,764
Includes fees billed in connection with assurance and related services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(c) | Tax Fees. |
Fiscal Year Ended August 31, 2023: $1,678,928
Fiscal Year Ended August 31, 2022: $5,202,689
Includes fees billed in connection with tax compliance, planning, and advice services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(d) | All Other Fees. |
Fiscal Year Ended August 31, 2023: $25,000
Fiscal Year Ended August 31, 2022: $298,000
Includes fees billed for services related to tax reported information provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(e) (1) Pre-Approval Policies. The policy of the Registrant’s Audit Committee is to consider, and, if appropriate, approve before the principal accountant is engaged for such services, all specific audit and non-audit services provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant. In making a determination, the Audit Committee considers whether the services are consistent with maintaining the principal accountant’s independence.
In the event of a contingency situation in which the principal accountant is needed to provide services in between scheduled Audit Committee meetings, the Chairman of the Audit Committee would be called on to consider and, if appropriate, pre-approve audit or permitted non-audit services in an amount sufficient to complete services through the next Audit Committee meeting, and to determine if such services would be consistent with maintaining the accountant’s independence. At the next scheduled Audit Committee meeting, services and fees would be presented to the Audit Committee for formal consideration, and, if appropriate, approval by the entire Audit Committee. The Audit Committee would again consider whether such services and fees are consistent with maintaining the principal accountant’s independence.
The Registrant’s Audit Committee is informed at least annually of all audit and non-audit services provided by the principal accountant to the Vanguard complex, whether such services are provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., or other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant.
(2) No percentage of the principal accountant’s fees or services were approved pursuant to the waiver provision of paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) For the most recent fiscal year, over 50% of the hours worked under the principal accountant’s engagement were not performed by persons other than full-time, permanent employees of the principal accountant.
(g) Aggregate Non-Audit Fees.
Fiscal Year Ended August 31, 2023: $1,703,928
Fiscal Year Ended August 31, 2022: $5,500,689
Includes fees billed for non-audit services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(h) For the most recent fiscal year, the Audit Committee has determined that the provision of all non-audit services was consistent with maintaining the principal accountant’s independence.
Item 5: Audit Committee of Listed Registrants.
The Registrant is a listed issuer as defined in rule 10A-3 under the Securities Exchange Act of 1934 (“Exchange Act”). The Registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant’s audit committee members are: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.
Item 6: Investments.
Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies.
Not applicable.
Item 13: Exhibits.
(a)(1) | Code of Ethics filed herewith. |
(a)(2) | Certifications filed herewith. |
(a)(2) | Certifications filed herewith. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
VANGUARD SCOTTSDALE FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: October 19, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
VANGUARD SCOTTSDALE FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: October 19, 2023
VANGUARD SCOTTSDALE FUNDS | ||
BY: | /s/ CHRISTINE BUCHANAN* | |
CHRISTINE BUCHANAN | ||
CHIEF FINANCIAL OFFICER |
Date: October 19, 2023
* By: | /s/ Anne E. Robinson |
Anne E. Robinson, pursuant to a Power of Attorney filed on July 21, 2023 (see File Number 33-53683) and to a Power of Attorney filed on March 29, 2023 (see File Number 2-11444), Incorporated by Reference.