Vanguard® Russell 2000 Value Index Fund
Schedule of Investments (unaudited)
As of May 31, 2024
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
| Shares | Market Value ($000) | ||
| Common Stocks (99.8%) | |||
| Basic Materials (4.8%) | |||
| Commercial Metals Co. | 79,278 | 4,465 | |
| UFP Industries Inc. | 34,423 | 4,113 | |
| Boise Cascade Co. | 26,884 | 3,691 | |
| Carpenter Technology Corp. | 33,074 | 3,667 | |
| Avient Corp. | 61,243 | 2,736 | |
| Mueller Industries Inc. | 42,930 | 2,529 | |
| Hecla Mining Co. | 327,506 | 1,929 | |
| Minerals Technologies Inc. | 22,005 | 1,909 | |
| * | Uranium Energy Corp. | 260,081 | 1,857 |
| Tronox Holdings plc | 79,119 | 1,567 | |
| * | Coeur Mining Inc. | 242,377 | 1,394 |
| Stepan Co. | 12,707 | 1,108 | |
| * | US Silica Holdings Inc. | 50,898 | 788 |
| * | Perimeter Solutions SA | 102,091 | 776 |
| * | Constellium SE | 33,096 | 717 |
| * | Metallus Inc. | 28,785 | 691 |
| Worthington Steel Inc. | 20,838 | 687 | |
| Mativ Holdings Inc. | 36,503 | 656 | |
| Koppers Holdings Inc. | 13,623 | 604 | |
| * | Clearwater Paper Corp. | 11,045 | 587 |
| * | Encore Energy Corp. | 111,050 | 539 |
| Haynes International Inc. | 8,629 | 508 | |
| * | Ecovyst Inc. | 48,860 | 454 |
| Ryerson Holding Corp. | 17,639 | 419 | |
| AdvanSix Inc. | 17,543 | 416 | |
| * | LSB Industries Inc. | 36,066 | 354 |
| Olympic Steel Inc. | 6,636 | 346 | |
| Radius Recycling Inc. | 17,853 | 305 | |
| Innospec Inc. | 2,023 | 265 | |
| * | Rayonier Advanced Materials Inc. | 42,814 | 242 |
| * | Northwest Pipe Co. | 6,614 | 235 |
| * | Intrepid Potash Inc. | 7,112 | 191 |
| American Vanguard Corp. | 15,348 | 133 | |
| * | i-80 Gold Corp. | 121,986 | 133 |
| Caledonia Mining Corp. plc | 11,549 | 121 | |
| * | Piedmont Lithium Inc. | 8,268 | 108 |
| *,1 | Energy Fuels Inc. | 14,654 | 103 |
| Tredegar Corp. | 18,571 | 101 | |
| * | GrafTech International Ltd. | 58,154 | 96 |
| * | Origin Materials Inc. | 77,983 | 90 |
| FutureFuel Corp. | 17,548 | 75 | |
| * | Contango ORE Inc. | 2,740 | 66 |
| Kaiser Aluminum Corp. | 618 | 60 | |
| * | Glatfelter Corp. | 29,299 | 47 |
| * | Dakota Gold Corp. | 12,810 | 38 |
| Valhi Inc. | 1,667 | 32 | |
| *,1 | 5e Advanced Materials Inc. | 3,870 | 6 |
| 41,954 | |||
| Consumer Discretionary (13.4%) | |||
| Meritage Homes Corp. | 24,638 | 4,345 | |
| * | Taylor Morrison Home Corp. | 70,126 | 4,055 |
| * | Carvana Co. | 39,098 | 3,909 |
| * | Asbury Automotive Group Inc. | 14,025 | 3,297 |
| KB Home | 46,088 | 3,254 | |
| Signet Jewelers Ltd. | 29,546 | 3,235 | |
| * | Light & Wonder Inc. | 32,468 | 3,100 |
| Group 1 Automotive Inc. | 9,245 | 2,875 | |
| * | Abercrombie & Fitch Co. Class A | 15,931 | 2,754 |
| * | Tri Pointe Homes Inc. | 65,115 | 2,522 |
1
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Goodyear Tire & Rubber Co. | 190,684 | 2,347 |
| * | M/I Homes Inc. | 18,222 | 2,276 |
| American Eagle Outfitters Inc. | 95,823 | 2,105 | |
| * | SkyWest Inc. | 27,397 | 2,046 |
| TEGNA Inc. | 133,780 | 1,995 | |
| Rush Enterprises Inc. Class A | 42,091 | 1,900 | |
| Graham Holdings Co. Class B | 2,353 | 1,770 | |
| * | Adient plc | 62,007 | 1,751 |
| Strategic Education Inc. | 15,312 | 1,737 | |
| * | Helen of Troy Ltd. | 16,061 | 1,717 |
| * | Adtalem Global Education Inc. | 26,482 | 1,705 |
| Century Communities Inc. | 19,305 | 1,630 | |
| Foot Locker Inc. | 55,438 | 1,537 | |
| * | Topgolf Callaway Brands Corp. | 97,291 | 1,523 |
| MillerKnoll Inc. | 49,904 | 1,376 | |
| * | Vista Outdoor Inc. | 39,149 | 1,365 |
| HNI Corp. | 28,333 | 1,333 | |
| * | Central Garden & Pet Co. Class A | 35,074 | 1,310 |
| * | JetBlue Airways Corp. | 227,152 | 1,270 |
| * | LGI Homes Inc. | 13,003 | 1,248 |
| * | OPENLANE Inc. | 72,123 | 1,244 |
| Dana Inc. | 87,952 | 1,237 | |
| * | Urban Outfitters Inc. | 28,620 | 1,194 |
| Winnebago Industries Inc. | 19,199 | 1,191 | |
| Worthington Enterprises Inc. | 20,868 | 1,190 | |
| LCI Industries | 10,495 | 1,153 | |
| * | Skyline Champion Corp. | 16,121 | 1,122 |
| La-Z-Boy Inc. | 29,304 | 1,099 | |
| * | Knowles Corp. | 60,255 | 1,056 |
| Perdoceo Education Corp. | 44,218 | 995 | |
| PROG Holdings Inc. | 24,340 | 920 | |
| John Wiley & Sons Inc. Class A | 24,328 | 887 | |
| Steelcase Inc. Class A | 62,656 | 856 | |
| * | ODP Corp. | 21,550 | 844 |
| * | G-III Apparel Group Ltd. | 27,945 | 840 |
| Caleres Inc. | 23,072 | 800 | |
| Red Rock Resorts Inc. Class A | 14,802 | 759 | |
| * | National Vision Holdings Inc. | 49,274 | 744 |
| Winmark Corp. | 1,939 | 690 | |
| * | Sphere Entertainment Co. | 18,002 | 657 |
| * | Green Brick Partners Inc. | 11,899 | 650 |
| Scholastic Corp. | 17,438 | 633 | |
| Interface Inc. | 38,971 | 628 | |
| * | Leslie's Inc. | 109,527 | 626 |
| * | American Axle & Manufacturing Holdings Inc. | 77,756 | 594 |
| * | Beazer Homes USA Inc. | 19,803 | 569 |
| Sonic Automotive Inc. Class A | 9,897 | 561 | |
| * | Sabre Corp. | 167,593 | 525 |
| Smith & Wesson Brands Inc. | 30,904 | 518 | |
| Allegiant Travel Co. | 9,539 | 507 | |
| A-Mark Precious Metals Inc. | 12,723 | 483 | |
| Monro Inc. | 20,289 | 480 | |
| * | Hovnanian Enterprises Inc. Class A | 3,290 | 473 |
| * | Hawaiian Holdings Inc. | 34,384 | 470 |
| * | Beyond Inc. | 30,517 | 462 |
| Shoe Carnival Inc. | 12,240 | 462 | |
| Ethan Allen Interiors Inc. | 15,408 | 449 | |
| * | Thryv Holdings Inc. | 20,818 | 439 |
| PriceSmart Inc. | 5,116 | 430 | |
| Standard Motor Products Inc. | 13,819 | 424 | |
| Krispy Kreme Inc. | 39,955 | 418 | |
| * | MarineMax Inc. | 14,645 | 417 |
| Matthews International Corp. Class A | 14,661 | 415 | |
| * | Hanesbrands Inc. | 78,945 | 404 |
| * | Sweetgreen Inc. Class A | 13,081 | 402 |
| Guess? Inc. | 17,009 | 396 | |
| * | Stagwell Inc. | 56,855 | 394 |
| * | Gannett Co. Inc. | 96,909 | 364 |
| * | Clear Channel Outdoor Holdings Inc. | 251,820 | 363 |
| * | AMC Networks Inc. Class A | 20,770 | 360 |
2
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Clean Energy Fuels Corp. | 113,879 | 356 |
| * | Life Time Group Holdings Inc. | 20,691 | 347 |
| * | Universal Technical Institute Inc. | 21,830 | 345 |
| Gray Television Inc. | 53,032 | 331 | |
| * | Daily Journal Corp. | 758 | 287 |
| * | Selectquote Inc. | 92,154 | 287 |
| Designer Brands Inc. Class A | 28,292 | 284 | |
| Haverty Furniture Cos. Inc. | 9,834 | 279 | |
| * | Dream Finders Homes Inc. Class A | 9,673 | 275 |
| Sinclair Inc. | 19,343 | 275 | |
| * | Central Garden & Pet Co. | 6,313 | 274 |
| Movado Group Inc. | 10,315 | 273 | |
| Oxford Industries Inc. | 2,454 | 272 | |
| 1 | Spirit Airlines Inc. | 73,694 | 269 |
| * | Six Flags Entertainment Corp. | 10,380 | 264 |
| * | America's Car-Mart Inc. | 3,938 | 237 |
| * | Stoneridge Inc. | 14,490 | 230 |
| Papa John's International Inc. | 4,865 | 226 | |
| Laureate Education Inc. | 13,763 | 216 | |
| * | Boston Omaha Corp. Class A | 14,726 | 215 |
| * | Cardlytics Inc. | 24,543 | 215 |
| Rush Enterprises Inc. Class B | 5,052 | 214 | |
| * | Cinemark Holdings Inc. | 12,318 | 213 |
| * | Genesco Inc. | 7,406 | 211 |
| * | Eastman Kodak Co. | 37,861 | 202 |
| * | Lions Gate Entertainment Corp. Class B | 26,181 | 202 |
| * | Malibu Boats Inc. Class A | 5,220 | 201 |
| * | Zumiez Inc. | 10,708 | 201 |
| * | OneWater Marine Inc. Class A | 7,749 | 200 |
| * | El Pollo Loco Holdings Inc. | 18,652 | 199 |
| * | BJ's Restaurants Inc. | 5,661 | 198 |
| * | Lincoln Educational Services Corp. | 15,886 | 186 |
| * | Turtle Beach Corp. | 10,923 | 181 |
| Marcus Corp. | 16,286 | 173 | |
| Aaron's Co. Inc. | 20,253 | 172 | |
| * | First Watch Restaurant Group Inc. | 8,719 | 172 |
| Rocky Brands Inc. | 4,374 | 171 | |
| * | 1-800-Flowers.com Inc. Class A | 17,500 | 169 |
| * | Legacy Housing Corp. | 7,270 | 169 |
| * | Brinker International Inc. | 2,385 | 168 |
| * | Lindblad Expeditions Holdings Inc. | 21,327 | 165 |
| * | AMMO Inc. | 60,062 | 162 |
| * | Everi Holdings Inc. | 20,074 | 145 |
| * | Lands' End Inc. | 10,064 | 144 |
| * | Vera Bradley Inc. | 17,362 | 142 |
| * | Sun Country Airlines Holdings Inc. | 13,400 | 142 |
| * | Madison Square Garden Entertainment Corp. | 3,886 | 138 |
| * | Landsea Homes Corp. | 13,798 | 137 |
| * | Playstudios Inc. | 60,527 | 137 |
| * | Snap One Holdings Corp. | 12,671 | 136 |
| * | Holley Inc. | 35,492 | 136 |
| * | Destination XL Group Inc. | 37,627 | 134 |
| Johnson Outdoors Inc. Class A | 3,645 | 133 | |
| Clarus Corp. | 18,846 | 132 | |
| * | GoPro Inc. Class A | 84,600 | 129 |
| * | Tile Shop Holdings Inc. | 19,064 | 126 |
| Hooker Furnishings Corp. | 7,179 | 125 | |
| * | Liquidity Services Inc. | 6,359 | 125 |
| * | Outbrain Inc. | 26,952 | 124 |
| * | BARK Inc. | 93,788 | 122 |
| Weyco Group Inc. | 3,935 | 120 | |
| * | Savers Value Village Inc. | 8,665 | 117 |
| Hibbett Inc. | 1,336 | 116 | |
| * | Bally's Corp. | 9,579 | 116 |
| J Jill Inc. | 3,238 | 109 | |
| * | Reservoir Media Inc. | 13,401 | 108 |
| * | Biglari Holdings Inc. Class B | 520 | 103 |
| * | Cooper-Standard Holdings Inc. | 7,778 | 103 |
| * | Lions Gate Entertainment Corp. Class A | 12,207 | 101 |
| * | Sleep Number Corp. | 6,676 | 101 |
3
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Latham Group Inc. | 25,945 | 100 |
| *,1 | Children's Place Inc. | 8,004 | 98 |
| * | Arlo Technologies Inc. | 6,821 | 97 |
| * | Sportsman's Warehouse Holdings Inc. | 25,005 | 95 |
| * | SES AI Corp. | 75,757 | 95 |
| * | JAKKS Pacific Inc. | 4,950 | 92 |
| Escalade Inc. | 6,315 | 87 | |
| * | Tilly's Inc. Class A | 14,671 | 85 |
| * | ContextLogic Inc. Class A | 15,055 | 82 |
| * | ThredUP Inc. Class A | 40,223 | 81 |
| * | Stitch Fix Inc. Class A | 31,155 | 77 |
| Wolverine World Wide Inc. | 5,644 | 77 | |
| Cato Corp. Class A | 12,317 | 74 | |
| Upbound Group Inc. | 2,228 | 73 | |
| * | Funko Inc. Class A | 7,919 | 72 |
| * | Big Lots Inc. | 19,739 | 69 |
| * | United Parks & Resorts Inc. | 1,303 | 68 |
| * | Traeger Inc. | 25,475 | 66 |
| * | Vizio Holding Corp. Class A | 6,060 | 65 |
| * | iHeartMedia Inc. Class A | 69,667 | 64 |
| Global Industrial Co. | 1,856 | 64 | |
| * | Denny's Corp. | 8,429 | 62 |
| * | WW International Inc. | 35,898 | 60 |
| * | Emerald Holding Inc. | 10,092 | 58 |
| * | EW Scripps Co. Class A | 21,075 | 57 |
| * | Blink Charging Co. | 17,901 | 56 |
| * | Chuy's Holdings Inc. | 1,989 | 53 |
| *,1 | Vuzix Corp. | 39,126 | 52 |
| * | Figs Inc. Class A | 9,864 | 52 |
| Build-A-Bear Workshop Inc. | 1,878 | 51 | |
| * | Sally Beauty Holdings Inc. | 4,084 | 50 |
| Big 5 Sporting Goods Corp. | 13,959 | 48 | |
| * | Purple Innovation Inc. | 36,912 | 46 |
| NL Industries Inc. | 5,904 | 43 | |
| Dine Brands Global Inc. | 1,031 | 41 | |
| * | Fossil Group Inc. | 34,528 | 41 |
| * | Allbirds Inc. Class A | 69,032 | 41 |
| Sturm Ruger & Co. Inc. | 909 | 40 | |
| * | Rent the Runway Inc. Class A | 1,650 | 40 |
| * | Chegg Inc. | 9,988 | 38 |
| * | Duluth Holdings Inc. Class B | 9,263 | 37 |
| * | VOXX International Corp. | 8,287 | 31 |
| Climb Global Solutions Inc. | 516 | 30 | |
| CompX International Inc. | 1,066 | 26 | |
| Bowlero Corp. Class A | 1,927 | 24 | |
| * | Lazydays Holdings Inc. | 5,883 | 21 |
| * | Xponential Fitness Inc. Class A | 2,306 | 21 |
| * | United Homes Group Inc. | 3,823 | 21 |
| * | iRobot Corp. | 1,881 | 18 |
| * | European Wax Center Inc. Class A | 1,624 | 18 |
| Nathan's Famous Inc. | 223 | 16 | |
| * | 2U Inc. | 54,559 | 15 |
| * | Full House Resorts Inc. | 3,080 | 15 |
| * | Urban One Inc. | 8,534 | 14 |
| * | Urban One Inc. (XNCM) | 5,521 | 12 |
| * | Mondee Holdings Inc. | 4,685 | 10 |
| * | Solo Brands Inc. Class A | 3,999 | 8 |
| * | Century Casinos Inc. | 2,637 | 7 |
| 117,222 | |||
| Consumer Staples (2.1%) | |||
| * | BellRing Brands Inc. | 65,455 | 3,807 |
| Primo Water Corp. | 91,227 | 2,058 | |
| Edgewell Personal Care Co. | 33,772 | 1,303 | |
| Andersons Inc. | 21,750 | 1,138 | |
| * | TreeHouse Foods Inc. | 30,121 | 1,094 |
| Vector Group Ltd. | 81,561 | 895 | |
| Universal Corp. | 16,322 | 783 | |
| Weis Markets Inc. | 11,112 | 728 | |
| Ingles Markets Inc. Class A | 9,604 | 702 | |
4
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| Fresh Del Monte Produce Inc. | 23,048 | 538 | |
| B&G Foods Inc. | 52,942 | 505 | |
| * | United Natural Foods Inc. | 39,979 | 480 |
| * | Hain Celestial Group Inc. | 60,048 | 460 |
| SpartanNash Co. | 23,297 | 458 | |
| Nu Skin Enterprises Inc. Class A | 33,503 | 447 | |
| * | Mission Produce Inc. | 27,929 | 331 |
| ACCO Brands Corp. | 62,160 | 316 | |
| Dole plc | 20,821 | 258 | |
| * | Duckhorn Portfolio Inc. | 29,756 | 240 |
| Limoneira Co. | 11,762 | 235 | |
| Oil-Dri Corp. of America | 2,439 | 204 | |
| * | Seneca Foods Corp. Class A | 3,379 | 200 |
| * | Herbalife Ltd. | 17,699 | 182 |
| Village Super Market Inc. Class A | 5,923 | 180 | |
| Natural Grocers by Vitamin Cottage Inc. | 6,287 | 136 | |
| * | Nature's Sunshine Products Inc. | 8,853 | 136 |
| Alico Inc. | 4,731 | 127 | |
| Cal-Maine Foods Inc. | 1,726 | 106 | |
| * | GrowGeneration Corp. | 39,348 | 100 |
| * | HF Foods Group Inc. | 26,288 | 93 |
| * | Waldencast plc Class A | 18,518 | 79 |
| PetMed Express Inc. | 14,167 | 60 | |
| *,1 | Forafric Global plc | 3,829 | 43 |
| * | Benson Hill Inc. | 126,187 | 24 |
| * | SunOpta Inc. | 3,544 | 21 |
| * | Brookfield Realty Capital Corp. Class A | 2,133 | 12 |
| * | Zevia PBC Class A | 7,787 | 7 |
| 18,486 | |||
| Energy (10.3%) | |||
| Chord Energy Corp. | 28,330 | 5,253 | |
| Permian resources Corp. | 302,310 | 4,955 | |
| Murphy Oil Corp. | 98,365 | 4,209 | |
| Civitas Resources Inc. | 54,720 | 4,025 | |
| Matador Resources Co. | 63,089 | 4,003 | |
| SM Energy Co. | 78,405 | 3,954 | |
| PBF Energy Inc. Class A | 74,668 | 3,459 | |
| Equitrans Midstream Corp. | 209,968 | 2,998 | |
| Arcosa Inc. | 32,803 | 2,884 | |
| * | CNX Resources Corp. | 106,129 | 2,791 |
| Liberty Energy Inc. | 104,620 | 2,583 | |
| Helmerich & Payne Inc. | 65,830 | 2,505 | |
| Patterson-UTI Energy Inc. | 225,405 | 2,484 | |
| Warrior Met Coal Inc. | 35,026 | 2,397 | |
| Alpha Metallurgical Resources Inc. | 7,264 | 2,291 | |
| California Resources Corp. | 47,088 | 2,230 | |
| * | CONSOL Energy Inc. | 20,700 | 2,146 |
| Arch Resources Inc. | 12,178 | 2,118 | |
| Peabody Energy Corp. | 76,413 | 1,894 | |
| Golar LNG Ltd. | 62,771 | 1,650 | |
| * | Seadrill Ltd. | 31,706 | 1,645 |
| Archrock Inc. | 77,118 | 1,561 | |
| * | Gulfport Energy Corp. | 7,411 | 1,199 |
| * | Talos Energy Inc. | 94,147 | 1,131 |
| * | Helix Energy Solutions Group Inc. | 97,383 | 1,121 |
| Delek US Holdings Inc. | 42,991 | 1,095 | |
| World Kinect Corp. | 40,365 | 1,063 | |
| * | Diamond Offshore Drilling Inc. | 69,411 | 1,054 |
| * | DNOW Inc. | 71,893 | 1,049 |
| Kinetik Holdings Inc. | 22,028 | 903 | |
| * | Expro Group Holdings NV | 37,725 | 828 |
| * | Vital Energy Inc. | 15,874 | 775 |
| Comstock Resources Inc. | 62,791 | 735 | |
| Sitio Royalties Corp. Class A | 30,897 | 724 | |
| * | Par Pacific Holdings Inc. | 23,048 | 626 |
| * | ProPetro Holding Corp. | 64,065 | 614 |
| Noble Corp. plc | 13,049 | 606 | |
| SunCoke Energy Inc. | 56,635 | 598 | |
| Select Water Solutions Inc. | 54,293 | 593 | |
5
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Bristow Group Inc. | 16,032 | 576 |
| * | Green Plains Inc. | 33,231 | 571 |
| * | SilverBow Resources Inc. | 14,242 | 558 |
| * | MRC Global Inc. | 37,427 | 497 |
| * | Dril-Quip Inc. | 22,881 | 443 |
| * | Newpark Resources Inc. | 51,243 | 435 |
| Vitesse Energy Inc. | 16,838 | 430 | |
| * | Centrus Energy Corp. Class A | 8,247 | 409 |
| VAALCO Energy Inc. | 63,708 | 406 | |
| Core Laboratories Inc. | 21,441 | 402 | |
| Crescent Energy Co. Class A | 31,512 | 397 | |
| RPC Inc. | 57,215 | 391 | |
| * | REX American Resources Corp. | 7,768 | 388 |
| Berry Corp. | 50,683 | 353 | |
| SandRidge Energy Inc. | 21,489 | 300 | |
| Northern Oil & Gas Inc. | 7,069 | 289 | |
| *,1 | FuelCell Energy Inc. | 306,416 | 275 |
| Atlas Energy Solutions Inc. | 9,918 | 240 | |
| Ramaco Resources Inc. Class A | 15,731 | 223 | |
| * | SEACOR Marine Holdings Inc. | 16,217 | 213 |
| Magnolia Oil & Gas Corp. Class A | 7,733 | 201 | |
| Kodiak Gas Services Inc. | 7,266 | 200 | |
| *,1 | Tellurian Inc. | 372,861 | 192 |
| * | Oil States International Inc. | 42,502 | 190 |
| * | Solid Power Inc. | 103,775 | 184 |
| Solaris Oilfield Infrastructure Inc. Class A | 18,010 | 165 | |
| * | Amplify Energy Corp. | 24,278 | 153 |
| * | Ring Energy Inc. | 83,789 | 150 |
| Granite Ridge Resources Inc. | 22,745 | 149 | |
| * | Hallador Energy Co. | 15,403 | 138 |
| * | ProFrac Holding Corp. Class A | 13,316 | 128 |
| *,1 | Stem Inc. | 94,291 | 125 |
| *,1 | EVgo Inc. | 59,243 | 120 |
| * | DMC Global Inc. | 9,026 | 117 |
| * | Forum Energy Technologies Inc. | 6,382 | 116 |
| * | Gevo Inc. | 155,438 | 106 |
| Ranger Energy Services Inc. | 9,775 | 103 | |
| NACCO Industries Inc. Class A | 2,795 | 93 | |
| *,1 | Energy Vault Holdings Inc. | 64,761 | 85 |
| * | Mammoth Energy Services Inc. | 17,372 | 64 |
| * | PrimeEnergy Resources Corp. | 489 | 56 |
| CVR Energy Inc. | 1,710 | 48 | |
| *,1 | ESS Tech Inc. | 59,681 | 44 |
| * | Nabors Industries Ltd. (XNYS) | 564 | 42 |
| * | KLX Energy Services Holdings Inc. | 7,363 | 38 |
| Ramaco Resources Inc. Class B | 2,210 | 24 | |
| HighPeak Energy Inc. | 1,253 | 20 | |
| *,1 | Maxeon Solar Technologies Ltd. | 7,193 | 14 |
| * | Verde Clean Fuels Inc. | 508 | 2 |
| 89,612 | |||
| Financials (24.4%) | |||
| Jackson Financial Inc. Class A | 54,037 | 4,107 | |
| Essent Group Ltd. | 70,875 | 4,019 | |
| SouthState Corp. | 51,514 | 3,983 | |
| Old National Bancorp | 213,132 | 3,642 | |
| * | Mr Cooper Group Inc. | 43,639 | 3,639 |
| Cadence Bank | 123,342 | 3,521 | |
| Radian Group Inc. | 103,974 | 3,248 | |
| Home BancShares Inc. | 127,759 | 3,005 | |
| United Bankshares Inc. | 88,555 | 2,873 | |
| Glacier Bancorp Inc. | 75,577 | 2,825 | |
| Hancock Whitney Corp. | 58,717 | 2,744 | |
| * | Enstar Group Ltd. | 8,080 | 2,530 |
| UMB Financial Corp. | 29,983 | 2,472 | |
| Ameris Bancorp | 44,717 | 2,234 | |
| Associated Banc-Corp. | 102,302 | 2,191 | |
| CNO Financial Group Inc. | 75,800 | 2,175 | |
| Valley National Bancorp | 292,981 | 2,089 | |
| Walker & Dunlop Inc. | 21,624 | 2,076 | |
6
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| International Bancshares Corp. | 36,352 | 2,066 | |
| 1 | Blackstone Mortgage Trust Inc. Class A | 116,895 | 2,039 |
| United Community Banks Inc. | 78,250 | 2,008 | |
| * | Oscar Health Inc. Class A | 100,413 | 2,004 |
| Atlantic Union Bankshares Corp. | 60,244 | 1,966 | |
| Fulton Financial Corp. | 115,006 | 1,937 | |
| * | Texas Capital Bancshares Inc. | 31,953 | 1,926 |
| * | Genworth Financial Inc. Class A | 304,763 | 1,917 |
| First BanCorp (XNYS) | 102,997 | 1,826 | |
| WSFS Financial Corp. | 40,861 | 1,800 | |
| * | Axos Financial Inc. | 32,635 | 1,758 |
| Cathay General Bancorp | 46,984 | 1,731 | |
| 1 | Arbor Realty Trust Inc. | 124,720 | 1,706 |
| * | NMI Holdings Inc. Class A | 49,600 | 1,646 |
| Community Bank System Inc. | 36,065 | 1,640 | |
| Bank of Hawaii Corp. | 26,490 | 1,530 | |
| Independent Bank Corp. (XNGS) | 29,852 | 1,516 | |
| CVB Financial Corp. | 90,142 | 1,491 | |
| First Interstate BancSystem Inc. Class A | 55,974 | 1,486 | |
| PennyMac Financial Services Inc. | 16,207 | 1,469 | |
| Simmons First National Corp. Class A | 83,768 | 1,456 | |
| BankUnited Inc. | 50,220 | 1,441 | |
| Pacific Premier Bancorp Inc. | 64,533 | 1,435 | |
| Eastern Bankshares Inc. | 104,598 | 1,433 | |
| First Financial Bancorp | 63,770 | 1,422 | |
| ServisFirst Bancshares Inc. | 22,794 | 1,409 | |
| Seacoast Banking Corp. of Florida | 57,193 | 1,354 | |
| Park National Corp. | 9,707 | 1,334 | |
| First Merchants Corp. | 40,016 | 1,323 | |
| Banc of California Inc. | 93,240 | 1,292 | |
| Towne Bank | 47,527 | 1,292 | |
| WaFd Inc. | 45,849 | 1,284 | |
| Hamilton Lane Inc. Class A | 10,088 | 1,266 | |
| Heartland Financial USA Inc. | 28,551 | 1,255 | |
| Provident Financial Services Inc. | 85,021 | 1,224 | |
| * | StoneX Group Inc. | 16,300 | 1,224 |
| Trustmark Corp. | 41,187 | 1,201 | |
| * | Enova International Inc. | 19,203 | 1,184 |
| OFG Bancorp | 31,177 | 1,159 | |
| Stewart Information Services Corp. | 18,067 | 1,144 | |
| Independent Bank Group Inc. | 24,578 | 1,132 | |
| Renasant Corp. | 37,244 | 1,122 | |
| * | Triumph Financial Inc. | 15,042 | 1,118 |
| BancFirst Corp. | 12,812 | 1,104 | |
| BGC Group Inc. Class A | 126,430 | 1,096 | |
| Banner Corp. | 23,198 | 1,086 | |
| WesBanco Inc. | 38,883 | 1,073 | |
| Moelis & Co. Class A | 18,706 | 1,059 | |
| NBT Bancorp Inc. | 28,192 | 1,048 | |
| Bank of NT Butterfield & Son Ltd. | 30,481 | 1,038 | |
| Mercury General Corp. | 18,159 | 1,014 | |
| Lakeland Financial Corp. | 15,694 | 973 | |
| Compass Diversified Holdings | 42,773 | 973 | |
| Apollo Commercial Real Estate Finance Inc. | 95,658 | 966 | |
| Hilltop Holdings Inc. | 31,577 | 966 | |
| Horace Mann Educators Corp. | 27,838 | 951 | |
| Enterprise Financial Services Corp. | 24,511 | 948 | |
| Northwest Bancshares Inc. | 86,463 | 947 | |
| City Holding Co. | 9,080 | 928 | |
| First Commonwealth Financial Corp. | 68,549 | 926 | |
| Virtus Investment Partners Inc. | 4,044 | 924 | |
| National Bank Holdings Corp. Class A | 24,838 | 906 | |
| Nelnet Inc. Class A | 8,719 | 904 | |
| Two Harbors Investment Corp. | 70,226 | 902 | |
| Federal Agricultural Mortgage Corp. Class C | 5,147 | 899 | |
| Ready Capital Corp. | 107,876 | 895 | |
| FB Financial Corp. | 23,988 | 888 | |
| * | Customers Bancorp Inc. | 19,416 | 880 |
| Ladder Capital Corp. | 76,755 | 858 | |
| First Bancorp/Southern Pines NC | 26,951 | 850 |
7
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| Navient Corp. | 56,255 | 848 | |
| S&T Bancorp Inc. | 25,784 | 823 | |
| Hope Bancorp Inc. | 77,804 | 819 | |
| * | Cannae Holdings Inc. | 44,861 | 816 |
| PennyMac Mortgage Investment Trust | 58,933 | 806 | |
| TriCo Bancshares | 21,061 | 802 | |
| First Busey Corp. | 35,155 | 795 | |
| Live Oak Bancshares Inc. | 22,678 | 782 | |
| National Western Life Group Inc. Class A | 1,548 | 759 | |
| Safety Insurance Group Inc. | 9,674 | 748 | |
| MFA Financial Inc. REIT | 68,833 | 736 | |
| Employers Holdings Inc. | 17,344 | 732 | |
| Veritex Holdings Inc. | 35,360 | 721 | |
| Franklin BSP Realty Trust Inc. REIT | 56,444 | 719 | |
| Nicolet Bankshares Inc. | 8,901 | 717 | |
| Stellar Bancorp Inc. | 31,291 | 707 | |
| * | Encore Capital Group Inc. | 15,816 | 700 |
| Sandy Spring Bancorp Inc. | 29,501 | 691 | |
| Peoples Bancorp Inc. | 23,637 | 689 | |
| * | LendingClub Corp. | 73,030 | 651 |
| Berkshire Hills Bancorp Inc. | 29,250 | 650 | |
| ARMOUR Residential REIT Inc. | 33,412 | 646 | |
| Preferred Bank | 8,627 | 645 | |
| Pathward Financial Inc. | 11,788 | 628 | |
| QCR Holdings Inc. | 11,089 | 628 | |
| Enact Holdings Inc. | 20,164 | 619 | |
| Ellington Financial Inc. | 50,952 | 618 | |
| Origin Bancorp Inc. | 19,631 | 614 | |
| Chimera Investment Corp. | 51,404 | 612 | |
| German American Bancorp Inc. | 18,939 | 599 | |
| Westamerica BanCorp | 12,229 | 597 | |
| OceanFirst Financial Corp. | 39,141 | 589 | |
| 1st Source Corp. | 11,210 | 576 | |
| * | SiriusPoint Ltd. | 43,343 | 570 |
| Redwood Trust Inc. | 89,306 | 566 | |
| * | PRA Group Inc. | 26,037 | 562 |
| Banco Latinoamericano de Comercio Exterior SA Class E | 18,591 | 558 | |
| * | Skyward Specialty Insurance Group Inc. | 14,532 | 542 |
| * | Ambac Financial Group Inc. | 29,889 | 530 |
| First Bancshares Inc. | 20,820 | 528 | |
| Brightspire Capital Inc. | 86,555 | 524 | |
| Southside Bancshares Inc. | 19,504 | 523 | |
| Fidelis Insurance Holdings Ltd. | 30,941 | 513 | |
| Bank First Corp. | 6,276 | 512 | |
| Brookline Bancorp Inc. | 58,710 | 508 | |
| Artisan Partners Asset Management Inc. Class A | 11,440 | 504 | |
| * | ProAssurance Corp. | 34,813 | 500 |
| Claros Mortgage Trust Inc. | 61,042 | 482 | |
| First Mid Bancshares Inc. | 15,149 | 481 | |
| F&G Annuities & Life Inc. | 11,870 | 480 | |
| Dynex Capital Inc. | 38,251 | 469 | |
| Premier Financial Corp. | 23,796 | 469 | |
| * | Lemonade Inc. | 28,336 | 468 |
| ConnectOne Bancorp Inc. | 24,636 | 459 | |
| Community Trust Bancorp Inc. | 10,468 | 441 | |
| Tompkins Financial Corp. | 9,311 | 437 | |
| Capitol Federal Financial Inc. | 84,186 | 435 | |
| Dime Community Bancshares Inc. | 23,499 | 434 | |
| Merchants Bancorp | 10,675 | 428 | |
| Piper Sandler Cos. | 2,023 | 428 | |
| Univest Financial Corp. | 19,519 | 426 | |
| Heritage Financial Corp. | 23,313 | 423 | |
| Old Second Bancorp Inc. | 29,181 | 422 | |
| Burke & Herbert Financial Services Corp. | 8,114 | 406 | |
| Mercantile Bank Corp. | 10,565 | 405 | |
| First Community Bankshares Inc. | 11,582 | 402 | |
| TPG RE Finance Trust Inc. | 46,401 | 398 | |
| * | CrossFirst Bankshares Inc. | 30,420 | 398 |
| * | Riot Platforms Inc. | 40,252 | 392 |
| Byline Bancorp Inc. | 16,698 | 386 |
8
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| Amerant Bancorp Inc. | 17,349 | 382 | |
| KKR Real Estate Finance Trust Inc. | 39,578 | 374 | |
| New York Mortgage Trust Inc. | 61,136 | 364 | |
| Central Pacific Financial Corp. | 17,876 | 363 | |
| Eagle Bancorp Inc. | 19,809 | 357 | |
| Horizon Bancorp Inc. | 28,983 | 354 | |
| TrustCo Bank Corp. NY | 12,535 | 348 | |
| Business First Bancshares Inc. | 16,162 | 347 | |
| Cambridge Bancorp | 5,118 | 343 | |
| Independent Bank Corp. | 13,438 | 337 | |
| Equity Bancshares Inc. Class A | 9,847 | 332 | |
| * | World Acceptance Corp. | 2,542 | 327 |
| Heritage Commerce Corp. | 39,798 | 324 | |
| Hanmi Financial Corp. | 20,471 | 323 | |
| Midland States Bancorp Inc. | 14,033 | 319 | |
| United Fire Group Inc. | 14,126 | 314 | |
| Invesco Mortgage Capital Inc. REIT | 33,847 | 314 | |
| Great Southern Bancorp Inc. | 5,970 | 313 | |
| Camden National Corp. | 9,617 | 312 | |
| Metrocity Bankshares Inc. | 12,321 | 304 | |
| Brightsphere Investment Group Inc. | 13,562 | 301 | |
| Amalgamated Financial Corp. | 11,889 | 301 | |
| Farmers National Banc Corp. | 24,562 | 300 | |
| Republic Bancorp Inc. Class A | 5,748 | 298 | |
| Washington Trust Bancorp Inc. | 11,364 | 298 | |
| 1 | Orchid Island Capital Inc. | 34,848 | 296 |
| HarborOne Bancorp Inc. | 27,539 | 287 | |
| First Financial Corp. | 7,724 | 286 | |
| AMERISAFE Inc. | 6,259 | 274 | |
| CNB Financial Corp. | 13,842 | 269 | |
| Southern Missouri Bancorp Inc. | 6,391 | 269 | |
| * | Metropolitan Bank Holding Corp. | 6,350 | 267 |
| Bar Harbor Bankshares | 10,070 | 265 | |
| Northeast Bank | 4,533 | 252 | |
| Universal Insurance Holdings Inc. | 12,767 | 252 | |
| Macatawa Bank Corp. | 17,754 | 250 | |
| Arrow Financial Corp. | 9,924 | 249 | |
| SmartFinancial Inc. | 10,699 | 248 | |
| Peapack-Gladstone Financial Corp. | 11,344 | 246 | |
| Northfield Bancorp Inc. | 27,196 | 241 | |
| Flushing Financial Corp. | 18,618 | 237 | |
| * | LendingTree Inc. | 5,440 | 234 |
| Alerus Financial Corp. | 12,064 | 233 | |
| * | Greenlight Capital Re Ltd. Class A | 17,447 | 232 |
| Shore Bancshares Inc. | 20,054 | 227 | |
| South Plains Financial Inc. | 7,916 | 215 | |
| NewtekOne Inc. | 15,649 | 215 | |
| HomeTrust Bancshares Inc. | 7,734 | 214 | |
| Kearny Financial Corp. | 37,650 | 213 | |
| Northrim BanCorp Inc. | 3,635 | 212 | |
| MidWestOne Financial Group Inc. | 9,607 | 206 | |
| Tiptree Inc. | 11,709 | 205 | |
| Mid Penn Bancorp Inc. | 9,593 | 205 | |
| First Foundation Inc. | 34,366 | 203 | |
| RBB Bancorp | 10,982 | 202 | |
| * | Carter Bankshares Inc. | 15,280 | 195 |
| James River Group Holdings Ltd. | 24,850 | 194 | |
| Sierra Bancorp | 9,073 | 191 | |
| West BanCorp Inc. | 10,950 | 190 | |
| Farmers & Merchants Bancorp Inc. | 8,560 | 189 | |
| Financial Institutions Inc. | 10,252 | 181 | |
| Peoples Financial Services Corp. | 4,631 | 181 | |
| First Business Financial Services Inc. | 5,303 | 180 | |
| Orrstown Financial Services Inc. | 6,908 | 180 | |
| ACNB Corp. | 5,605 | 177 | |
| Citizens & Northern Corp. | 10,067 | 176 | |
| Home Bancorp Inc. | 4,842 | 175 | |
| HBT Financial Inc. | 8,955 | 175 | |
| Chicago Atlantic Real Estate Finance Inc. | 11,088 | 174 | |
| MBIA Inc. | 30,643 | 173 |
9
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Columbia Financial Inc. | 11,822 | 171 |
| Hingham Institution for Savings | 998 | 171 | |
| * | Third Coast Bancshares Inc. | 8,039 | 170 |
| Orange County Bancorp Inc. | 3,425 | 168 | |
| First Bank | 13,758 | 167 | |
| Bank of Marin Bancorp | 10,578 | 163 | |
| Enterprise Bancorp Inc. | 6,453 | 162 | |
| Guaranty Bancshares Inc. | 5,512 | 161 | |
| Capital City Bank Group Inc. | 5,812 | 158 | |
| First Bancorp Inc. (XNGS) | 6,557 | 158 | |
| * | American Coastal Insurance Corp. Class C | 13,397 | 158 |
| * | Bridgewater Bancshares Inc. | 13,756 | 155 |
| Civista Bancshares Inc. | 10,378 | 149 | |
| Red River Bancshares Inc. | 3,236 | 148 | |
| Community West Bancshares | 8,427 | 146 | |
| Fidelity D&D Bancorp Inc. | 3,143 | 145 | |
| John Marshall Bancorp Inc. | 8,344 | 144 | |
| * | Hamilton Insurance Group Ltd. Class B | 8,370 | 144 |
| First of Long Island Corp. | 14,341 | 143 | |
| Primis Financial Corp. | 13,650 | 143 | |
| Northeast Community Bancorp Inc. | 8,396 | 143 | |
| Waterstone Financial Inc. | 11,759 | 142 | |
| * | Southern First Bancshares Inc. | 5,171 | 142 |
| * | Blue Foundry Bancorp | 15,104 | 139 |
| Donegal Group Inc. Class A | 10,435 | 138 | |
| BayCom Corp. | 6,790 | 137 | |
| Codorus Valley Bancorp Inc. | 6,228 | 137 | |
| Regional Management Corp. | 4,898 | 135 | |
| Colony Bankcorp Inc. | 11,143 | 135 | |
| Unity Bancorp Inc. | 4,746 | 133 | |
| Southern States Bancshares Inc. | 5,030 | 133 | |
| MVB Financial Corp. | 7,065 | 132 | |
| AFC Gamma Inc. | 11,024 | 130 | |
| Investors Title Co. | 701 | 129 | |
| * | Maiden Holdings Ltd. | 60,607 | 129 |
| Capital Bancorp Inc. | 6,408 | 129 | |
| * | Hippo Holdings Inc. | 7,331 | 129 |
| National Bankshares Inc. | 4,094 | 126 | |
| Norwood Financial Corp. | 4,821 | 122 | |
| Timberland Bancorp Inc. | 4,943 | 122 | |
| ChoiceOne Financial Services Inc. | 4,924 | 122 | |
| * | Ponce Financial Group Inc. | 12,982 | 121 |
| FS Bancorp Inc. | 3,592 | 118 | |
| Ames National Corp. | 5,747 | 118 | |
| * | FVCBankcorp Inc. | 10,598 | 117 |
| LCNB Corp. | 8,231 | 116 | |
| Plumas Bancorp | 3,331 | 116 | |
| * | Forge Global Holdings Inc. | 73,136 | 116 |
| Parke Bancorp Inc. | 7,025 | 114 | |
| NexPoint Diversified Real Estate Trust | 20,780 | 114 | |
| HomeStreet Inc. | 12,135 | 111 | |
| Middlefield Banc Corp. | 5,204 | 110 | |
| Five Star Bancorp | 4,820 | 110 | |
| PCB Bancorp | 7,181 | 109 | |
| Princeton Bancorp Inc. | 3,577 | 109 | |
| Granite Point Mortgage Trust Inc. | 34,283 | 108 | |
| * | Velocity Financial Inc. | 5,773 | 107 |
| Oak Valley Bancorp | 4,506 | 107 | |
| * | Ocwen Financial Corp. | 4,307 | 106 |
| Angel Oak Mortgage REIT Inc. | 8,519 | 106 | |
| Stock Yards Bancorp Inc. | 2,244 | 105 | |
| Chemung Financial Corp. | 2,397 | 104 | |
| Bankwell Financial Group Inc. | 4,133 | 102 | |
| BCB Bancorp Inc. | 10,102 | 101 | |
| ESSA Bancorp Inc. | 5,893 | 101 | |
| Evans Bancorp Inc. | 3,714 | 98 | |
| Penns Woods Bancorp Inc. | 4,874 | 97 | |
| Victory Capital Holdings Inc. Class A | 1,856 | 97 | |
| Virginia National Bankshares Corp. | 3,332 | 97 | |
| * | First Western Financial Inc. | 5,680 | 96 |
10
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| C&F Financial Corp. | 2,107 | 93 | |
| Citizens Financial Services Inc. | 2,180 | 91 | |
| First Community Corp. | 5,213 | 87 | |
| USCB Financial Holdings Inc. | 7,054 | 85 | |
| Nexpoint Real Estate Finance Inc. | 5,878 | 84 | |
| * | NI Holdings Inc. | 5,350 | 83 |
| MainStreet Bancshares Inc. | 4,711 | 80 | |
| * | Pioneer Bancorp Inc. | 7,818 | 78 |
| * | eHealth Inc. | 12,757 | 76 |
| * | Sterling Bancorp Inc. | 14,978 | 75 |
| Greene County Bancorp Inc. | 2,399 | 75 | |
| Bank7 Corp. | 2,345 | 71 | |
| * | Security National Financial Corp. Class A | 8,138 | 65 |
| * | Consumer Portfolio Services Inc. | 6,028 | 50 |
| * | SWK Holdings Corp. | 2,520 | 43 |
| * | Open Lending Corp. Class A | 5,746 | 37 |
| * | Blue Ridge Bankshares Inc. | 12,770 | 37 |
| *,1 | Bakkt Holdings Inc. | 2,037 | 36 |
| GCM Grosvenor Inc. Class A | 3,256 | 33 | |
| MarketWise Inc. | 23,831 | 31 | |
| * | GoHealth Inc. Class A | 2,862 | 30 |
| Esquire Financial Holdings Inc. | 580 | 27 | |
| OppFi Inc. | 7,885 | 25 | |
| * | Finance of America Cos. Inc. Class A | 38,843 | 22 |
| * | Bowhead Specialty Holdings Inc. | 125 | 3 |
| Value Line Inc. | 50 | 2 | |
| 213,474 | |||
| Health Care (8.6%) | |||
| * | Integer Holdings Corp. | 22,435 | 2,720 |
| * | Prestige Consumer Healthcare Inc. | 33,693 | 2,167 |
| * | LivaNova plc | 34,415 | 2,102 |
| * | Neogen Corp. | 147,138 | 1,935 |
| * | Crinetics Pharmaceuticals Inc. | 37,066 | 1,646 |
| * | Twist Bioscience Corp. | 39,148 | 1,640 |
| * | Biohaven Ltd. | 46,159 | 1,620 |
| * | Iovance Biotherapeutics Inc. | 160,153 | 1,422 |
| * | Agios Pharmaceuticals Inc. | 37,658 | 1,369 |
| * | Myriad Genetics Inc. | 59,543 | 1,355 |
| * | Avidity Biosciences Inc. | 49,919 | 1,341 |
| * | Intellia Therapeutics Inc. | 51,714 | 1,106 |
| Patterson Cos. Inc. | 44,205 | 1,087 | |
| * | NeoGenomics Inc. | 78,528 | 1,077 |
| * | Dyne Therapeutics Inc. | 32,654 | 1,041 |
| * | Celldex Therapeutics Inc. | 31,172 | 1,038 |
| * | Veracyte Inc. | 49,106 | 1,019 |
| * | Kura Oncology Inc. | 47,970 | 989 |
| * | REVOLUTION Medicines Inc. | 24,418 | 936 |
| National HealthCare Corp. | 8,486 | 897 | |
| * | Owens & Minor Inc. | 50,151 | 874 |
| * | Brookdale Senior Living Inc. | 126,388 | 848 |
| * | Ligand Pharmaceuticals Inc. | 9,674 | 823 |
| * | Recursion Pharmaceuticals Inc. Class A | 94,811 | 785 |
| * | Apogee Therapeutics Inc. | 15,280 | 697 |
| * | Bridgebio Pharma Inc. | 24,239 | 679 |
| * | Edgewise Therapeutics Inc. | 39,092 | 670 |
| * | Tarsus Pharmaceuticals Inc. | 19,789 | 652 |
| * | ADMA Biologics Inc. | 68,128 | 651 |
| * | Addus HomeCare Corp. | 5,567 | 639 |
| * | Avanos Medical Inc. | 31,422 | 626 |
| * | 4D Molecular Therapeutics Inc. | 25,357 | 608 |
| * | Deciphera Pharmaceuticals Inc. | 23,493 | 600 |
| * | Ideaya Biosciences Inc. | 15,968 | 584 |
| * | Janux Therapeutics Inc. | 10,923 | 584 |
| * | Innoviva Inc. | 35,845 | 566 |
| * | Vir Biotechnology Inc. | 54,658 | 561 |
| * | MiMedx Group Inc. | 77,780 | 556 |
| * | Arcturus Therapeutics Holdings Inc. | 14,288 | 555 |
| * | Amneal Pharmaceuticals Inc. | 82,236 | 549 |
| * | Vera Therapeutics Inc. | 14,111 | 536 |
11
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Artivion Inc. | 22,441 | 530 |
| * | Nurix Therapeutics Inc. | 32,427 | 511 |
| * | Omnicell Inc. | 15,243 | 497 |
| * | CareDx Inc. | 35,078 | 456 |
| * | Sana Biotechnology Inc. | 59,929 | 449 |
| * | Xencor Inc. | 18,243 | 433 |
| Embecta Corp. | 34,821 | 431 | |
| * | Relay Therapeutics Inc. | 65,039 | 417 |
| * | Pediatrix Medical Group Inc. | 56,524 | 413 |
| * | Varex Imaging Corp. | 26,730 | 413 |
| * | Kiniksa Pharmaceuticals Ltd. Class A | 21,700 | 413 |
| * | Cullinan Therapeutics Inc. | 17,443 | 410 |
| * | Protagonist Therapeutics Inc. | 14,248 | 401 |
| * | REGENXBIO Inc. | 27,559 | 395 |
| * | Arcus Biosciences Inc. | 25,222 | 380 |
| *,1 | OPKO Health Inc. | 270,633 | 371 |
| * | Scholar Rock Holding Corp. | 39,179 | 368 |
| * | Ardelyx Inc. | 53,378 | 366 |
| * | Alphatec Holdings Inc. | 36,523 | 355 |
| *,1 | Enliven Therapeutics Inc. | 15,671 | 354 |
| * | Ironwood Pharmaceuticals Inc. | 55,197 | 348 |
| * | PTC Therapeutics Inc. | 9,309 | 338 |
| * | Community Health Systems Inc. | 84,391 | 334 |
| * | Orthofix Medical Inc. | 23,605 | 324 |
| * | Lyell Immunopharma Inc. | 116,403 | 322 |
| * | Quanterix Corp. | 20,081 | 321 |
| * | Zymeworks Inc. | 37,339 | 317 |
| * | Enhabit Inc. | 33,796 | 311 |
| * | Nuvation Bio Inc. | 99,466 | 308 |
| * | WaVe Life Sciences Ltd. | 49,513 | 306 |
| * | Geron Corp. (XNGS) | 85,470 | 303 |
| * | AdaptHealth Corp. | 31,007 | 294 |
| * | Zimvie Inc. | 17,361 | 289 |
| * | Theravance Biopharma Inc. | 33,419 | 288 |
| * | Editas Medicine Inc. | 55,147 | 287 |
| * | Fulgent Genetics Inc. | 13,744 | 284 |
| * | iTeos Therapeutics Inc. | 16,577 | 278 |
| * | CG oncology Inc. | 8,479 | 276 |
| * | Stoke Therapeutics Inc. | 18,751 | 274 |
| * | Altimmune Inc. | 36,300 | 273 |
| * | OmniAb Inc. | 62,753 | 272 |
| * | Cytokinetics Inc. | 5,407 | 262 |
| HealthStream Inc. | 9,617 | 262 | |
| * | KalVista Pharmaceuticals Inc. | 21,722 | 254 |
| * | Anika Therapeutics Inc. | 9,792 | 251 |
| * | MaxCyte Inc. | 54,629 | 245 |
| *,1 | Nano-X Imaging Ltd. | 28,593 | 239 |
| * | Castle Biosciences Inc. | 10,252 | 238 |
| * | ORIC Pharmaceuticals Inc. | 26,208 | 236 |
| * | Taro Pharmaceutical Industries Ltd. | 5,505 | 236 |
| * | Savara Inc. | 56,761 | 232 |
| * | OraSure Technologies Inc. | 48,388 | 229 |
| * | Verve Therapeutics Inc. | 44,025 | 229 |
| * | Entrada Therapeutics Inc. | 14,352 | 222 |
| * | Annexon Inc. | 45,501 | 220 |
| * | Fate Therapeutics Inc. | 56,862 | 209 |
| * | Novavax Inc. | 13,856 | 208 |
| * | Tango Therapeutics Inc. | 29,971 | 207 |
| * | Longboard Pharmaceuticals Inc. | 10,900 | 206 |
| * | Cogent Biosciences Inc. | 25,549 | 205 |
| * | BioCryst Pharmaceuticals Inc. | 31,199 | 202 |
| * | Emergent BioSolutions Inc. | 34,940 | 199 |
| * | AtriCure Inc. | 8,756 | 197 |
| * | Vanda Pharmaceuticals Inc. | 37,832 | 193 |
| * | ALX Oncology Holdings Inc. | 18,025 | 192 |
| * | Celcuity Inc. | 12,159 | 192 |
| * | Atea Pharmaceuticals Inc. | 51,412 | 189 |
| * | LifeStance Health Group Inc. | 32,514 | 181 |
| Phibro Animal Health Corp. Class A | 10,058 | 177 | |
| * | Replimune Group Inc. | 33,128 | 175 |
12
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Olema Pharmaceuticals Inc. | 18,019 | 174 |
| * | Aura Biosciences Inc. | 23,682 | 174 |
| * | Sutro Biopharma Inc. | 40,915 | 173 |
| * | Third Harmonic Bio Inc. | 13,013 | 173 |
| * | Agenus Inc. | 10,793 | 169 |
| * | Syndax Pharmaceuticals Inc. | 8,689 | 167 |
| * | Dynavax Technologies Corp. | 13,868 | 166 |
| * | AngioDynamics Inc. | 25,610 | 162 |
| * | HilleVax Inc. | 13,372 | 162 |
| * | Sharecare Inc. | 196,704 | 160 |
| * | Y-mAbs Therapeutics Inc. | 13,139 | 159 |
| * | Allogene Therapeutics Inc. | 63,354 | 158 |
| * | Caribou Biosciences Inc. | 54,912 | 158 |
| * | Inozyme Pharma Inc. | 32,009 | 154 |
| * | Phathom Pharmaceuticals Inc. | 16,011 | 151 |
| * | MannKind Corp. | 31,871 | 149 |
| * | Cargo Therapeutics Inc. | 7,817 | 149 |
| * | Nevro Corp. | 15,687 | 147 |
| * | ANI Pharmaceuticals Inc. | 2,260 | 147 |
| * | Enanta Pharmaceuticals Inc. | 11,619 | 145 |
| * | BrightSpring Health Services Inc. | 12,817 | 144 |
| * | 2seventy bio Inc. | 33,678 | 142 |
| * | Larimar Therapeutics Inc. | 17,538 | 140 |
| * | Multiplan Corp. | 258,419 | 139 |
| * | Codexis Inc. | 40,927 | 138 |
| * | Nkarta Inc. | 20,290 | 138 |
| * | Pacific Biosciences of California Inc. | 76,525 | 137 |
| * | Poseida Therapeutics Inc. | 45,471 | 136 |
| * | Erasca Inc. | 54,026 | 136 |
| * | XOMA Corp. | 5,119 | 132 |
| * | Tenaya Therapeutics Inc. | 31,163 | 131 |
| * | Inogen Inc. | 15,591 | 129 |
| * | Surgery Partners Inc. | 4,661 | 129 |
| * | Liquidia Corp. | 9,814 | 126 |
| * | Precigen Inc. | 89,316 | 125 |
| * | Inari Medical Inc. | 2,497 | 125 |
| * | Mineralys Therapeutics Inc. | 9,683 | 124 |
| * | Ovid therapeutics Inc. | 39,862 | 122 |
| * | EyePoint Pharmaceuticals Inc. | 11,423 | 122 |
| * | 23andMe Holding Co. Class A | 216,652 | 118 |
| * | MacroGenics Inc. | 28,556 | 117 |
| * | Beam Therapeutics Inc. | 4,882 | 116 |
| * | Bluebird Bio Inc. | 127,656 | 115 |
| * | Health Catalyst Inc. | 17,172 | 114 |
| * | Organogenesis Holdings Inc. | 41,397 | 114 |
| * | Zevra Therapeutics Inc. | 24,422 | 114 |
| * | ARS Pharmaceuticals Inc. | 12,771 | 113 |
| * | Acelyrin Inc. | 26,372 | 109 |
| * | Arbutus Biopharma Corp. | 31,198 | 105 |
| *,1 | ImmunityBio Inc. | 16,111 | 103 |
| * | Quantum-Si Inc. | 67,921 | 103 |
| * | Rocket Pharmaceuticals Inc. | 4,801 | 102 |
| * | Generation Bio Co. | 31,264 | 99 |
| * | TruBridge Inc. | 10,416 | 98 |
| * | Tyra Biosciences Inc. | 6,010 | 98 |
| *,1 | Butterfly Network Inc. | 97,758 | 97 |
| * | Design Therapeutics Inc. | 23,096 | 94 |
| * | 908 Devices Inc. | 14,739 | 93 |
| * | Nautilus Biotechnology Inc. | 33,570 | 92 |
| *,1 | Pulse Biosciences Inc. | 7,846 | 91 |
| * | Morphic Holding Inc. | 2,980 | 91 |
| * | Monte Rosa Therapeutics Inc. | 21,142 | 87 |
| * | ProKidney Corp. | 24,745 | 86 |
| *,1 | Omeros Corp. | 24,863 | 84 |
| * | Viridian Therapeutics Inc. | 6,967 | 83 |
| * | PepGen Inc. | 5,104 | 83 |
| * | Compass Therapeutics Inc. | 56,328 | 79 |
| * | Trevi Therapeutics Inc. | 29,949 | 77 |
| * | Adaptive Biotechnologies Corp. | 21,414 | 74 |
| * | FibroGen Inc. | 61,627 | 74 |
13
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Seer Inc. | 41,191 | 74 |
| *,1 | IGM Biosciences Inc. | 8,737 | 73 |
| * | Cartesian Therapeutics Inc. | 2,100 | 73 |
| * | American Well Corp. Class A | 165,545 | 71 |
| * | Aveanna Healthcare Holdings Inc. | 26,869 | 70 |
| * | Kodiak Sciences Inc. | 21,716 | 69 |
| * | ArriVent Biopharma Inc. | 3,562 | 69 |
| * | PetIQ Inc. | 3,231 | 67 |
| * | Mersana Therapeutics Inc. | 28,332 | 66 |
| * | Assertio Holdings Inc. | 64,688 | 64 |
| * | Fennec Pharmaceuticals Inc. | 9,298 | 63 |
| * | Acrivon Therapeutics Inc. | 8,067 | 62 |
| * | Lexeo Therapeutics Inc. | 3,669 | 61 |
| * | Arvinas Inc. | 1,809 | 60 |
| * | Zura Bio Ltd. | 11,465 | 60 |
| * | AnaptysBio Inc. | 2,427 | 58 |
| * | Terns Pharmaceuticals Inc. | 9,585 | 58 |
| * | Lexicon Pharmaceuticals Inc. | 33,624 | 57 |
| * | Sangamo Therapeutics Inc. | 99,931 | 56 |
| *,1 | Citius Pharmaceuticals Inc. | 80,403 | 56 |
| * | Allakos Inc. | 44,237 | 55 |
| * | Protalix BioTherapeutics Inc. | 46,028 | 52 |
| * | Neumora Therapeutics Inc. | 5,289 | 52 |
| * | Adicet Bio Inc. | 35,319 | 51 |
| * | PMV Pharmaceuticals Inc. | 27,955 | 51 |
| * | Day One Biopharmaceuticals Inc. | 3,863 | 51 |
| * | OrthoPediatrics Corp. | 1,597 | 50 |
| * | Century Therapeutics Inc. | 16,338 | 49 |
| *,2 | Scilex Holding Co. (Acquired 1/6/23, Cost $525) | 50,101 | 49 |
| * | Gritstone bio Inc. | 61,370 | 48 |
| * | UroGen Pharma Ltd. | 3,432 | 46 |
| * | BioAtla Inc. | 30,489 | 46 |
| * | BioLife Solutions Inc. | 2,033 | 44 |
| * | Sagimet Biosciences Inc. Class A | 8,344 | 44 |
| * | Humacyte Inc. | 5,688 | 43 |
| * | X4 Pharmaceuticals Inc. | 41,534 | 42 |
| * | Prelude Therapeutics Inc. | 9,995 | 39 |
| * | Astria Therapeutics Inc. | 3,982 | 38 |
| LENZ Therapeutics Inc. | 2,514 | 38 | |
| * | Vor BioPharma Inc. | 27,083 | 37 |
| * | Rallybio Corp. | 22,338 | 37 |
| * | Vigil Neuroscience Inc. | 11,757 | 37 |
| * | Biote Corp. Class A | 5,517 | 37 |
| * | Kezar Life Sciences Inc. | 51,884 | 36 |
| * | Atara Biotherapeutics Inc. | 61,807 | 35 |
| * | Ikena Oncology Inc. | 19,825 | 35 |
| * | Inhibrx Biosciences Inc. | 1,945 | 32 |
| * | MeiraGTx Holdings plc | 6,118 | 30 |
| * | Allovir Inc. | 38,115 | 29 |
| * | Healthcare Services Group Inc. | 2,555 | 28 |
| * | Cabaletta Bio Inc. | 2,606 | 27 |
| * | Travere Therapeutics Inc. | 3,594 | 27 |
| *,1 | Cutera Inc. | 11,985 | 26 |
| * | Eagle Pharmaceuticals Inc. | 7,565 | 26 |
| * | Sage Therapeutics Inc. | 2,347 | 26 |
| * | Carisma Therapeutics Inc. | 19,492 | 26 |
| * | Genelux Corp. | 9,557 | 26 |
| * | Coherus Biosciences Inc. | 13,788 | 25 |
| * | Seres Therapeutics Inc. | 23,751 | 24 |
| * | Cara Therapeutics Inc. | 33,918 | 22 |
| * | Rigel Pharmaceuticals Inc. | 22,776 | 22 |
| * | Aadi Bioscience Inc. | 11,856 | 21 |
| * | Rapt Therapeutics Inc. | 5,043 | 20 |
| * | Accolade Inc. | 2,714 | 19 |
| * | Heron Therapeutics Inc. | 3,949 | 15 |
| * | Vicarious Surgical Inc. | 42,927 | 14 |
| * | Disc Medicine Inc. | 401 | 14 |
| * | Turnstone Biologics Corp. | 5,544 | 14 |
| * | CorMedix Inc. | 2,306 | 12 |
| Utah Medical Products Inc. | 176 | 12 |
14
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Actinium Pharmaceuticals Inc. | 1,075 | 9 |
| * | Ocean Biomedical Inc. | 6,344 | 9 |
| * | PACS Group Inc. | 302 | 9 |
| * | CVRx Inc. | 1,033 | 7 |
| * | Accuray Inc. | 3,563 | 6 |
| * | Reneo Pharmaceuticals Inc. | 3,806 | 6 |
| * | Immuneering Corp. Class A | 3,807 | 5 |
| * | CareMax Inc. | 1,823 | 5 |
| *,3 | Inhibrx Inc. | 7,780 | 5 |
| * | ClearPoint Neuro Inc. | 643 | 4 |
| * | Beyond Air Inc. | 2,400 | 3 |
| * | Boundless Bio Inc. | 215 | 2 |
| * | Contineum Therapeutics Inc. Class A | 88 | 1 |
| *,3 | PDL BioPharma Inc. | 270 | — |
| *,3 | OmniAb Inc. 12.5 Earnout | 4,268 | — |
| *,3 | OmniAb Inc. 15 Earnout | 4,268 | — |
| 74,919 | |||
| Industrials (15.7%) | |||
| * | Beacon Roofing Supply Inc. | 38,335 | 3,721 |
| * | Summit Materials Inc. Class A | 80,773 | 3,121 |
| GATX Corp. | 22,519 | 3,107 | |
| * | Itron Inc. | 27,926 | 3,003 |
| Matson Inc. | 23,357 | 2,994 | |
| Encore Wire Corp. | 10,173 | 2,937 | |
| * | Knife River Corp. | 38,293 | 2,708 |
| Scorpio Tankers Inc. | 32,300 | 2,651 | |
| Moog Inc. Class A | 15,574 | 2,639 | |
| Zurn Elkay Water Solutions Corp. | 80,174 | 2,510 | |
| Korn Ferry | 35,277 | 2,326 | |
| Enpro Inc. | 14,192 | 2,175 | |
| * | Alight Inc. Class A | 280,696 | 2,175 |
| * | ASGN Inc. | 22,936 | 2,154 |
| * | Resideo Technologies Inc. | 99,127 | 2,141 |
| * | Kratos Defense & Security Solutions Inc. | 97,558 | 2,121 |
| ABM Industries Inc. | 42,596 | 2,014 | |
| Hub Group Inc. Class A | 42,571 | 1,837 | |
| Primoris Services Corp. | 33,551 | 1,837 | |
| International Seaways Inc. | 27,512 | 1,772 | |
| * | Chart Industries Inc. | 11,214 | 1,761 |
| * | GMS Inc. | 18,523 | 1,740 |
| * | API Group Corp. | 47,733 | 1,701 |
| AZZ Inc. | 19,502 | 1,636 | |
| * | AAR Corp. | 22,842 | 1,622 |
| UniFirst Corp. | 10,159 | 1,611 | |
| Granite Construction Inc. | 25,715 | 1,602 | |
| * | Marqeta Inc. Class A | 276,553 | 1,471 |
| * | Mirion Technologies Inc. | 135,199 | 1,468 |
| * | Masterbrand Inc. | 86,661 | 1,448 |
| Patrick Industries Inc. | 12,565 | 1,440 | |
| Trinity Industries Inc. | 44,890 | 1,412 | |
| Bread Financial Holdings Inc. | 33,542 | 1,401 | |
| Kennametal Inc. | 53,910 | 1,388 | |
| Werner Enterprises Inc. | 36,680 | 1,378 | |
| Barnes Group Inc. | 33,269 | 1,281 | |
| * | Modine Manufacturing Co. | 12,510 | 1,263 |
| * | CoreCivic Inc. | 77,070 | 1,237 |
| * | Hillman Solutions Corp. | 132,433 | 1,217 |
| Golden Ocean Group Ltd. | 83,065 | 1,195 | |
| Otter Tail Corp. | 13,133 | 1,188 | |
| Teekay Tankers Ltd. Class A | 16,148 | 1,176 | |
| Greenbrier Cos. Inc. | 20,678 | 1,142 | |
| Terex Corp. | 18,959 | 1,131 | |
| Powell Industries Inc. | 6,258 | 1,126 | |
| SFL Corp. Ltd. | 77,756 | 1,113 | |
| DHT Holdings Inc. | 91,471 | 1,107 | |
| * | StoneCo. Ltd. Class A | 77,270 | 1,069 |
| Greif Inc. Class A | 16,311 | 1,059 | |
| * | Aspen Aerogels Inc. | 34,483 | 1,032 |
| ArcBest Corp. | 9,737 | 1,027 | |
15
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| Belden Inc. | 10,716 | 1,025 | |
| * | Blue Bird Corp. | 17,587 | 1,003 |
| * | JELD-WEN Holding Inc. | 57,463 | 891 |
| * | American Woodmark Corp. | 10,153 | 874 |
| ESCO Technologies Inc. | 7,337 | 801 | |
| Columbus McKinnon Corp. | 19,235 | 752 | |
| TriMas Corp. | 28,221 | 751 | |
| Quanex Building Products Corp. | 22,330 | 736 | |
| Griffon Corp. | 10,757 | 727 | |
| * | SPX Technologies Inc. | 5,194 | 724 |
| VSE Corp. | 8,823 | 722 | |
| * | Gibraltar Industries Inc. | 9,082 | 685 |
| * | Atmus Filtration Technologies Inc. | 21,848 | 674 |
| * | Thermon Group Holdings Inc. | 19,938 | 673 |
| Deluxe Corp. | 29,343 | 667 | |
| * | PagSeguro Digital Ltd. Class A | 52,361 | 641 |
| Genco Shipping & Trading Ltd. | 28,391 | 639 | |
| * | Tutor Perini Corp. | 28,628 | 632 |
| Ardmore Shipping Corp. | 28,174 | 631 | |
| * | Triumph Group Inc. | 43,443 | 613 |
| Tennant Co. | 5,932 | 609 | |
| * | Joby Aviation Inc. | 124,674 | 607 |
| Argan Inc. | 8,525 | 602 | |
| Apogee Enterprises Inc. | 9,228 | 600 | |
| * | BlueLinx Holdings Inc. | 5,747 | 591 |
| REV Group Inc. | 21,373 | 586 | |
| * | Aurora Innovation Inc. | 242,732 | 580 |
| Nordic American Tankers Ltd. | 138,495 | 573 | |
| FTAI Infrastructure Inc. | 66,507 | 569 | |
| * | Repay Holdings Corp. | 55,761 | 543 |
| * | Proto Labs Inc. | 17,450 | 540 |
| First Advantage Corp. | 33,322 | 535 | |
| * | Ducommun Inc. | 9,086 | 529 |
| Costamare Inc. | 31,723 | 508 | |
| * | CECO Environmental Corp. | 20,035 | 502 |
| Astec Industries Inc. | 15,276 | 496 | |
| Dorian LPG Ltd. | 9,528 | 482 | |
| * | Air Transport Services Group Inc. | 35,219 | 475 |
| Kelly Services Inc. Class A | 21,231 | 462 | |
| Heidrick & Struggles International Inc. | 13,329 | 457 | |
| * | DXP Enterprises Inc. | 8,959 | 445 |
| * | Cimpress plc | 5,253 | 433 |
| Miller Industries Inc. | 7,009 | 426 | |
| Gorman-Rupp Co. | 12,007 | 415 | |
| Insteel Industries Inc. | 12,590 | 414 | |
| * | Teekay Corp. | 41,698 | 408 |
| * | Conduent Inc. | 115,510 | 404 |
| * | Great Lakes Dredge & Dock Corp. | 44,083 | 403 |
| * | Paysafe Ltd. | 21,802 | 396 |
| * | Astronics Corp. | 19,112 | 393 |
| * | BrightView Holdings Inc. | 27,796 | 384 |
| * | V2X Inc. | 7,748 | 373 |
| Ennis Inc. | 17,239 | 363 | |
| * | ACI Worldwide Inc. | 9,987 | 360 |
| Heartland Express Inc. | 31,523 | 357 | |
| Overseas Shipholding Group Inc. Class A | 40,272 | 340 | |
| *,1 | Archer Aviation Inc. Class A | 102,401 | 335 |
| Pactiv Evergreen Inc. | 26,904 | 333 | |
| *,1 | PureCycle Technologies Inc. | 60,775 | 315 |
| HB Fuller Co. | 3,932 | 313 | |
| * | Green Dot Corp. Class A | 31,191 | 309 |
| * | Sterling Infrastructure Inc. | 2,517 | 309 |
| * | Sterling Check Corp. | 19,187 | 295 |
| * | Cross Country Healthcare Inc. | 19,279 | 292 |
| * | Donnelley Financial Solutions Inc. | 4,773 | 291 |
| * | Manitowoc Co. Inc. | 23,414 | 291 |
| * | Titan International Inc. | 35,013 | 290 |
| * | Limbach Holdings Inc. | 5,055 | 289 |
| * | Fluor Corp. | 6,599 | 286 |
| * | Vishay Precision Group Inc. | 8,335 | 281 |
16
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Willdan Group Inc. | 8,478 | 275 |
| Covenant Logistics Group Inc. | 5,607 | 267 | |
| * | Titan Machinery Inc. | 13,833 | 260 |
| National Presto Industries Inc. | 3,469 | 258 | |
| *,1 | Nikola Corp. | 498,602 | 255 |
| Standex International Corp. | 1,508 | 254 | |
| Safe Bulkers Inc. | 44,765 | 254 | |
| Resources Connection Inc. | 21,785 | 249 | |
| Greif Inc. Class B | 3,683 | 240 | |
| Albany International Corp. Class A | 2,673 | 235 | |
| Luxfer Holdings plc | 18,009 | 222 | |
| * | Hudson Technologies Inc. | 24,684 | 220 |
| * | TrueBlue Inc. | 20,394 | 220 |
| * | FARO Technologies Inc. | 11,617 | 218 |
| * | RXO Inc. | 10,400 | 212 |
| Kronos Worldwide Inc. | 14,787 | 210 | |
| EnerSys | 1,914 | 206 | |
| Pangaea Logistics Solutions Ltd. | 24,524 | 203 | |
| * | Advantage Solutions Inc. | 58,286 | 201 |
| Universal Logistics Holdings Inc. | 4,527 | 198 | |
| * | O-I Glass Inc. | 15,422 | 196 |
| 1 | Flex LNG Ltd. | 6,538 | 188 |
| * | Ranpak Holdings Corp. | 29,261 | 183 |
| * | Evolv Technologies Holdings Inc. | 62,542 | 179 |
| Park Aerospace Corp. | 12,522 | 175 | |
| * | Aersale Corp. | 22,609 | 171 |
| Himalaya Shipping Ltd. | 16,767 | 160 | |
| * | Hyliion Holdings Corp. | 101,908 | 151 |
| Park-Ohio Holdings Corp. | 5,719 | 150 | |
| * | Acacia Research Corp. | 26,383 | 147 |
| * | Gencor Industries Inc. | 7,382 | 143 |
| Marten Transport Ltd. | 7,814 | 138 | |
| * | Hireright Holdings Corp. | 9,151 | 131 |
| * | Radiant Logistics Inc. | 24,315 | 130 |
| Willis Lease Finance Corp. | 2,002 | 130 | |
| * | Mistras Group Inc. | 14,519 | 124 |
| * | Blade Air Mobility Inc. | 40,447 | 122 |
| Preformed Line Products Co. | 878 | 118 | |
| * | Mayville Engineering Co. Inc. | 7,250 | 116 |
| *,1 | Desktop Metal Inc. Class A | 195,436 | 110 |
| * | Commercial Vehicle Group Inc. | 19,139 | 104 |
| Quad/Graphics Inc. | 21,565 | 102 | |
| * | CS Disco Inc. | 16,047 | 94 |
| * | Virgin Galactic Holdings Inc. | 103,917 | 90 |
| Trinseo plc | 23,527 | 90 | |
| * | AvidXchange Holdings Inc. | 8,485 | 90 |
| * | Core Molding Technologies Inc. | 4,520 | 87 |
| * | BlackSky Technology Inc. | 80,083 | 87 |
| * | Cantaloupe Inc. | 12,026 | 86 |
| * | NV5 Global Inc. | 906 | 85 |
| * | Atlanticus Holdings Corp. | 3,062 | 79 |
| LSI Industries Inc. | 4,770 | 76 | |
| * | DHI Group Inc. | 29,475 | 61 |
| * | Terran Orbital Corp. | 63,943 | 59 |
| * | PAM Transportation Services Inc. | 3,478 | 58 |
| * | Iteris Inc. | 12,579 | 57 |
| *,1 | Microvast Holdings Inc. | 147,058 | 55 |
| Barrett Business Services Inc. | 368 | 49 | |
| Cass Information Systems Inc. | 1,147 | 49 | |
| * | CryoPort Inc. | 4,731 | 49 |
| * | Concrete Pumping Holdings Inc. | 6,754 | 48 |
| * | Danimer Scientific Inc. | 60,880 | 47 |
| * | Babcock & Wilcox Enterprises Inc. | 35,304 | 41 |
| * | Performant Financial Corp. | 12,398 | 38 |
| Information Services Group Inc. | 11,688 | 37 | |
| *,1 | Workhorse Group Inc. | 142,498 | 28 |
| * | Skillsoft Corp. | 2,927 | 28 |
| INNOVATE Corp. | 37,312 | 23 | |
| * | UL Solutions Inc. Class A | 559 | 22 |
| * | Distribution Solutions Group Inc. | 631 | 21 |
17
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| EVI Industries Inc. | 696 | 15 | |
| * | Southland Holdings Inc. | 2,600 | 15 |
| CompoSecure Inc. Class A | 1,607 | 10 | |
| *,1 | Eos Energy Enterprises Inc. | 7,789 | 6 |
| * | Loar Holdings Inc. | 102 | 6 |
| * | Centuri Holdings Inc. | 207 | 6 |
| * | Proficient Auto Logistics Inc. | 336 | 5 |
| 137,157 | |||
| Other (0.0%)4 | |||
| *,3 | Aduro Biotech Inc. CVR | 724 | — |
| Real Estate (10.0%) | |||
| Terreno Realty Corp. | 60,687 | 3,434 | |
| Kite Realty Group Trust | 147,388 | 3,231 | |
| Independence Realty Trust Inc. | 153,100 | 2,557 | |
| Essential Properties Realty Trust Inc. | 93,908 | 2,515 | |
| SL Green Realty Corp. | 43,750 | 2,317 | |
| PotlatchDeltic Corp. | 53,476 | 2,285 | |
| Sabra Health Care REIT Inc. | 156,750 | 2,285 | |
| Hannon Armstrong Sustainable Infrastructure Capital Inc. | 68,570 | 2,283 | |
| Macerich Co. | 145,988 | 2,207 | |
| Phillips Edison & Co. Inc. | 67,578 | 2,158 | |
| Apple Hospitality REIT Inc. | 146,042 | 2,109 | |
| Innovative Industrial Properties Inc. | 18,916 | 2,039 | |
| Broadstone Net Lease Inc. | 127,033 | 1,950 | |
| CareTrust REIT Inc. | 73,744 | 1,886 | |
| COPT Defense Properties | 76,253 | 1,881 | |
| SITE Centers Corp. | 128,768 | 1,857 | |
| National Health Investors Inc. | 25,447 | 1,682 | |
| LXP Industrial Trust | 196,559 | 1,671 | |
| Douglas Emmett Inc. | 109,058 | 1,521 | |
| * | Cushman & Wakefield plc | 130,714 | 1,452 |
| Sunstone Hotel Investors Inc. | 139,170 | 1,431 | |
| Urban Edge Properties | 77,870 | 1,381 | |
| * | Equity Commonwealth | 69,162 | 1,336 |
| Four Corners Property Trust Inc. | 54,545 | 1,331 | |
| DiamondRock Hospitality Co. | 142,439 | 1,206 | |
| * | GEO Group Inc. | 81,410 | 1,184 |
| Acadia Realty Trust | 68,032 | 1,173 | |
| Pebblebrook Hotel Trust | 81,034 | 1,147 | |
| InvenTrust Properties Corp. | 45,893 | 1,137 | |
| Tanger Inc. | 37,688 | 1,046 | |
| Retail Opportunity Investments Corp. | 83,094 | 1,040 | |
| RLJ Lodging Trust | 103,874 | 1,037 | |
| Xenia Hotels & Resorts Inc. | 71,530 | 1,036 | |
| DigitalBridge Group Inc. | 74,740 | 1,019 | |
| Global Net Lease Inc. | 132,040 | 988 | |
| Newmark Group Inc. Class A | 91,911 | 957 | |
| LTC Properties Inc. | 27,720 | 954 | |
| Elme Communities | 59,854 | 922 | |
| JBG SMITH Properties | 63,399 | 913 | |
| Getty Realty Corp. | 32,255 | 891 | |
| Empire State Realty Trust Inc. Class A | 89,403 | 852 | |
| Alexander & Baldwin Inc. | 49,070 | 824 | |
| Kennedy-Wilson Holdings Inc. | 80,321 | 821 | |
| Veris Residential Inc. | 53,572 | 819 | |
| NETSTREIT Corp. | 47,037 | 816 | |
| * | Opendoor Technologies Inc. | 365,123 | 796 |
| * | Apartment Investment and Management Co. Class A | 98,144 | 774 |
| Easterly Government Properties Inc. | 65,124 | 771 | |
| Outfront Media Inc. | 53,265 | 770 | |
| American Assets Trust Inc. | 32,787 | 713 | |
| Centerspace | 10,244 | 699 | |
| Plymouth Industrial REIT Inc. | 30,681 | 640 | |
| Safehold Inc. | 32,702 | 630 | |
| Service Properties Trust | 112,819 | 607 | |
| Piedmont Office Realty Trust Inc. Class A | 82,979 | 605 | |
| Paramount Group Inc. | 124,310 | 566 | |
| Brandywine Realty Trust | 114,210 | 527 | |
18
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| UMH Properties Inc. | 34,359 | 519 | |
| Armada Hoffler Properties Inc. | 45,304 | 514 | |
| Uniti Group Inc. | 161,881 | 512 | |
| Hudson Pacific Properties Inc. | 92,770 | 455 | |
| Summit Hotel Properties Inc. | 70,346 | 431 | |
| Whitestone REIT | 32,751 | 427 | |
| * | Forestar Group Inc. | 12,338 | 420 |
| NexPoint Residential Trust Inc. | 10,671 | 391 | |
| Diversified Healthcare Trust | 160,514 | 390 | |
| Global Medical REIT Inc. | 41,085 | 382 | |
| Marcus & Millichap Inc. | 10,152 | 328 | |
| Farmland Partners Inc. | 30,018 | 326 | |
| Gladstone Commercial Corp. | 22,026 | 317 | |
| Gladstone Land Corp. | 22,527 | 304 | |
| Peakstone Realty Trust REIT | 24,303 | 301 | |
| Chatham Lodging Trust | 32,435 | 274 | |
| * | FRP Holdings Inc. | 8,892 | 272 |
| * | Anywhere Real Estate Inc. | 65,644 | 267 |
| CTO Realty Growth Inc. | 14,874 | 264 | |
| One Liberty Properties Inc. | 10,967 | 257 | |
| * | Tejon Ranch Co. | 14,105 | 257 |
| Ares Commercial Real Estate Corp. | 35,847 | 249 | |
| Postal Realty Trust Inc. Class A | 13,738 | 184 | |
| Orion Office REIT Inc. | 42,086 | 158 | |
| Community Healthcare Trust Inc. | 5,950 | 140 | |
| BRT Apartments Corp. | 7,770 | 136 | |
| Alpine Income Property Trust Inc. | 8,441 | 132 | |
| Braemar Hotels & Resorts Inc. | 45,395 | 127 | |
| City Office REIT Inc. | 25,690 | 127 | |
| * | Star Holdings | 9,568 | 123 |
| * | Compass Inc. Class A | 26,858 | 101 |
| RE/MAX Holdings Inc. Class A | 12,189 | 99 | |
| CBL & Associates Properties Inc. | 4,498 | 99 | |
| * | Stratus Properties Inc. | 3,694 | 88 |
| Office Properties Income Trust | 32,362 | 74 | |
| RMR Group Inc. Class A | 2,986 | 70 | |
| * | Douglas Elliman Inc. | 56,409 | 64 |
| Saul Centers Inc. | 693 | 25 | |
| * | Transcontinental Realty Investors Inc. | 860 | 25 |
| * | American Realty Investors Inc. | 1,019 | 14 |
| Clipper Realty Inc. | 1,240 | 5 | |
| * | Maui Land & Pineapple Co. Inc. | 187 | 4 |
| 87,331 | |||
| Technology (5.5%) | |||
| Amkor Technology Inc. | 76,133 | 2,481 | |
| * | Sanmina Corp. | 35,371 | 2,424 |
| * | Synaptics Inc. | 24,557 | 2,301 |
| Vishay Intertechnology Inc. | 86,196 | 2,037 | |
| * | Cleanspark Inc. | 114,329 | 1,837 |
| * | Semtech Corp. | 43,163 | 1,679 |
| * | Veeco Instruments Inc. | 34,412 | 1,399 |
| * | Ultra Clean Holdings Inc. | 30,152 | 1,398 |
| * | Ziff Davis Inc. | 23,765 | 1,369 |
| * | LiveRamp Holdings Inc. | 43,593 | 1,364 |
| * | TTM Technologies Inc. | 68,947 | 1,282 |
| * | ePlus Inc. | 16,932 | 1,267 |
| * | Squarespace Inc. Class A | 26,663 | 1,173 |
| * | Parsons Corp. | 15,182 | 1,156 |
| * | Photronics Inc. | 41,416 | 1,133 |
| Xerox Holdings Corp. | 79,202 | 1,114 | |
| Benchmark Electronics Inc. | 23,992 | 1,033 | |
| * | Onto Innovation Inc. | 4,727 | 1,024 |
| * | Cohu Inc. | 31,586 | 1,018 |
| * | NetScout Systems Inc. | 46,234 | 950 |
| * | Bumble Inc. Class A | 68,178 | 798 |
| * | ScanSource Inc. | 16,725 | 793 |
| * | Matterport Inc. | 174,615 | 768 |
| *,1 | IonQ Inc. | 93,889 | 765 |
| * | PAR Technology Corp. | 17,070 | 762 |
19
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Ichor Holdings Ltd. | 19,686 | 748 |
| * | Magnite Inc. | 52,568 | 649 |
| * | ACM Research Inc. Class A | 27,819 | 601 |
| * | Ambarella Inc. | 10,211 | 595 |
| * | SMART Global Holdings Inc. | 27,251 | 561 |
| * | E2open Parent Holdings Inc. | 115,687 | 539 |
| PC Connection Inc. | 7,706 | 521 | |
| Kulicke & Soffa Industries Inc. | 11,204 | 512 | |
| * | PubMatic Inc. Class A | 23,241 | 509 |
| * | Diodes Inc. | 6,584 | 488 |
| * | Alpha & Omega Semiconductor Ltd. | 15,570 | 456 |
| SolarWinds Corp. | 35,044 | 406 | |
| * | nLight Inc. | 30,086 | 396 |
| * | C3.ai Inc. Class A | 13,275 | 393 |
| * | Rogers Corp. | 3,106 | 367 |
| * | Vimeo Inc. | 90,269 | 350 |
| * | Xometry Inc. Class A | 20,220 | 310 |
| * | 3D Systems Corp. | 87,872 | 309 |
| * | SmartRent Inc. | 126,961 | 300 |
| * | Daktronics Inc. | 25,592 | 286 |
| * | Kimball Electronics Inc. | 12,300 | 282 |
| Methode Electronics Inc. | 22,885 | 270 | |
| * | PROS Holdings Inc. | 8,496 | 250 |
| * | Navitas Semiconductor Corp. | 63,580 | 249 |
| * | Bandwidth Inc. Class A | 12,064 | 243 |
| * | Plexus Corp. | 2,125 | 234 |
| * | Terawulf Inc. | 103,761 | 226 |
| Immersion Corp. | 20,893 | 209 | |
| * | Unisys Corp. | 44,615 | 191 |
| * | CommVault Systems Inc. | 1,685 | 181 |
| * | TrueCar Inc. | 60,178 | 178 |
| * | Vivid Seats Inc. Class A | 34,278 | 173 |
| * | Olo Inc. Class A | 30,891 | 142 |
| *,1 | Bit Digital Inc. | 51,244 | 127 |
| * | ON24 Inc. | 20,896 | 124 |
| * | Definitive Healthcare Corp. | 21,705 | 115 |
| Adeia Inc. | 9,613 | 114 | |
| * | Nextdoor Holdings Inc. | 43,585 | 106 |
| * | Fastly Inc. Class A | 13,288 | 104 |
| * | Consensus Cloud Solutions Inc. | 5,520 | 104 |
| * | MeridianLink Inc. | 5,501 | 102 |
| * | Cipher Mining Inc. | 26,947 | 100 |
| Richardson Electronics Ltd. | 8,684 | 97 | |
| * | Cerence Inc. | 27,705 | 95 |
| * | Asure Software Inc. | 12,426 | 94 |
| * | Tucows Inc. Class A | 4,113 | 93 |
| * | Digital Turbine Inc. | 47,348 | 90 |
| * | Rackspace Technology Inc. | 44,428 | 87 |
| * | Verint Systems Inc. | 2,898 | 86 |
| * | Intevac Inc. | 18,348 | 70 |
| * | Grid Dynamics Holdings Inc. | 7,252 | 69 |
| * | Brightcove Inc. | 32,103 | 67 |
| * | N-Able Inc. | 4,515 | 60 |
| American Software Inc. Class A | 4,849 | 50 | |
| * | Mediaalpha Inc. Class A | 2,732 | 49 |
| * | indie Semiconductor Inc. Class A | 6,658 | 44 |
| * | CEVA Inc. | 2,113 | 42 |
| * | FiscalNote Holdings Inc. | 32,813 | 42 |
| * | EverCommerce Inc. | 3,625 | 35 |
| Hackett Group Inc. | 1,463 | 33 | |
| * | Aeva Technologies Inc. | 10,164 | 33 |
| * | EverQuote Inc. Class A | 1,337 | 32 |
| NVE Corp. | 371 | 29 | |
| * | System1 Inc. | 22,492 | 29 |
| * | Eventbrite Inc. Class A | 5,367 | 27 |
| * | OneSpan Inc. | 2,061 | 27 |
| * | NextNav Inc. | 3,292 | 26 |
| * | Mitek Systems Inc. | 1,695 | 21 |
| * | Planet Labs PBC | 9,970 | 19 |
| * | Atomera Inc. | 4,429 | 18 |
20
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| * | Reddit Inc. Class A | 258 | 14 |
| *,1 | Astera Labs Inc. | 206 | 13 |
| * | Rubrik Inc. Class A | 402 | 12 |
| * | Ibotta Inc. Class A | 31 | 3 |
| * | Silvaco Group Inc. | 164 | 3 |
| 47,954 | |||
| Telecommunications (1.1%) | |||
| * | EchoStar Corp. Class A | 82,469 | 1,583 |
| Telephone and Data Systems Inc. | 66,974 | 1,332 | |
| * | Lumen Technologies Inc. | 681,264 | 879 |
| * | Liberty Latin America Ltd. Class C | 93,706 | 850 |
| Cogent Communications Holdings Inc. | 10,957 | 649 | |
| Shenandoah Telecommunications Co. | 32,645 | 614 | |
| Bel Fuse Inc. Class B | 6,495 | 443 | |
| * | Gogo Inc. | 40,439 | 428 |
| Adtran Holdings Inc. | 52,387 | 291 | |
| * | NETGEAR Inc. | 19,424 | 268 |
| * | Xperi Inc. | 30,129 | 265 |
| * | fuboTV Inc. | 190,126 | 238 |
| * | Aviat Networks Inc. | 7,651 | 237 |
| * | Liberty Latin America Ltd. Class A | 23,372 | 212 |
| * | Consolidated Communications Holdings Inc. | 45,635 | 201 |
| * | Viavi Solutions Inc. | 25,985 | 195 |
| * | Ribbon Communications Inc. | 59,652 | 187 |
| Spok Holdings Inc. | 11,946 | 182 | |
| ATN International Inc. | 7,302 | 178 | |
| * | WideOpenWest Inc. | 33,270 | 167 |
| IDT Corp. Class B | 2,490 | 101 | |
| * | Globalstar Inc. | 63,989 | 70 |
| * | Digi International Inc. | 2,779 | 68 |
| * | KVH Industries Inc. | 12,408 | 64 |
| * | Comtech Telecommunications Corp. | 17,961 | 45 |
| * | Anterix Inc. | 794 | 27 |
| * | DZS Inc. | 15,940 | 23 |
| 9,797 | |||
| Utilities (3.9%) | |||
| Southwest Gas Holdings Inc. | 42,254 | 3,278 | |
| Portland General Electric Co. | 68,820 | 3,067 | |
| Black Hills Corp. | 46,222 | 2,609 | |
| 1 | Brookfield Infrastructure Corp. Class A (XTSE) | 72,455 | 2,496 |
| ALLETE Inc. | 39,153 | 2,472 | |
| ONE Gas Inc. | 37,318 | 2,300 | |
| Northwestern Energy Group Inc. | 41,775 | 2,171 | |
| Spire Inc. | 35,321 | 2,165 | |
| PNM Resources Inc. | 52,010 | 1,994 | |
| Avista Corp. | 52,453 | 1,940 | |
| New Jersey Resources Corp. | 31,313 | 1,361 | |
| California Water Service Group | 26,784 | 1,336 | |
| SJW Group | 21,546 | 1,179 | |
| Ormat Technologies Inc. (XNYS) | 13,046 | 984 | |
| MGE Energy Inc. | 12,144 | 973 | |
| Northwest Natural Holding Co. | 24,778 | 927 | |
| Chesapeake Utilities Corp. | 5,319 | 596 | |
| * | Enviri Corp. | 52,990 | 469 |
| Unitil Corp. | 7,653 | 409 | |
| Aris Water Solutions Inc. Class A | 18,685 | 287 | |
| Consolidated Water Co. Ltd. | 7,201 | 195 | |
| * | Sunnova Energy International Inc. | 36,751 | 192 |
| * | Altus Power Inc. | 42,932 | 174 |
| RGC Resources Inc. | 5,136 | 106 | |
| Genie Energy Ltd. Class B | 6,249 | 95 | |
| Artesian Resources Corp. Class A | 1,716 | 62 | |
| Excelerate Energy Inc. Class A | 2,812 | 50 | |
21
Vanguard® Russell 2000 Value Index Fund
| Shares | Market Value ($000) | ||
| *,1 | Li-Cycle Holdings Corp. | 93,306 | 48 |
| 33,935 | |||
| Total Common Stocks (Cost $876,447) | 871,841 | ||
| Rights (0.0%) | |||
| * | Pulse Biosciences Inc. (Cost $—) | 7,846 | 8 |
| Warrants (0.0%) | |||
| * | Danimer Scientific Inc. Exp. 7/15/25 (Cost $—) | 20,604 | — |
| Temporary Cash Investments (1.1%) | |||
| Money Market Fund (1.1%) | |||
| 5,6 | Vanguard Market Liquidity Fund, 5.397% (Cost $9,663) | 96,663 | 9,665 |
| Total Investments (100.9%) (Cost $886,110) | 881,514 | ||
| Other Assets and Liabilities—Net (-0.9%) | (7,790) | ||
| Net Assets (100%) | 873,724 | ||
| Cost is in $000. | |||
| * | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $7,711,000. |
| 2 | Restricted securities totaling $49,000, 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 $8,876,000 was received for securities on loan. |
| CVR—Contingent Value Rights. | |
| REIT—Real Estate Investment Trust. |
Derivative Financial Instruments Outstanding as of Period End
| Futures Contracts | ||||
| ($000) | ||||
| Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
| Long Futures Contracts | ||||
| E-mini Russell 2000 Index | June 2024 | 17 | 1,764 | (15) |
| A. | Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. |
| B. | Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments. |
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
| 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—Quoted prices in active markets for identical securities.
22
Vanguard® Russell 2000 Value Index Fund
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund’s investments and derivatives as of May 31, 2024, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Common Stocks | 871,787 | 49 | 5 | 871,841 |
| Rights | 8 | — | — | 8 |
| Warrants | — | — | — | — |
| Temporary Cash Investments | 9,665 | — | — | 9,665 |
| Total | 881,460 | 49 | 5 | 881,514 |
| Derivative Financial Instruments | ||||
| Liabilities | ||||
| Futures Contracts1 | 15 | — | — | 15 |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |
23