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: 811-02652
Name of Registrant: | Vanguard Index 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: December 31
Date of reporting period: January 1, 2021—June 30, 2021
Item 1: | Reports to Shareholders |
About Your Fund’s Expenses | 1 |
Financial Statements | 4 |
Trustees Approve Advisory Arrangement | 25 |
Liquidity Risk Management | 27 |
• | 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 June 30, 2021 | |||
Beginning Account Value 12/31/2020 | Ending Account Value 6/30/2021 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
500 Index Fund | |||
Investor Shares | $1,000.00 | $1,151.80 | $0.75 |
ETF Shares | 1,000.00 | 1,152.40 | 0.16 |
Admiral™ Shares | 1,000.00 | 1,152.40 | 0.21 |
Institutional Select Shares | 1,000.00 | 1,152.60 | 0.05 |
Based on Hypothetical 5% Yearly Return | |||
Investor Shares | $1,000.00 | $1,024.10 | $0.70 |
ETF Shares | 1,000.00 | 1,024.65 | 0.15 |
Admiral Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Select Shares | 1,000.00 | 1,024.75 | 0.05 |
Communication Services | 11.1% |
Consumer Discretionary | 12.3 |
Consumer Staples | 5.9 |
Energy | 2.8 |
Financials | 11.3 |
Health Care | 13.0 |
Industrials | 8.6 |
Information Technology | 27.4 |
Materials | 2.6 |
Real Estate | 2.6 |
Utilities | 2.4 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Communication Services (11.1%) | |||
* | Facebook Inc. Class A | 49,523,774 | 17,219,911 |
* | Alphabet Inc. Class A | 6,211,784 | 15,167,872 |
* | Alphabet Inc. Class C | 5,889,591 | 14,761,200 |
* | Walt Disney Co. | 37,554,585 | 6,600,969 |
Comcast Corp. Class A | 94,765,610 | 5,403,535 | |
Verizon Communications Inc. | 85,569,609 | 4,794,465 | |
* | Netflix Inc. | 9,064,871 | 4,788,156 |
AT&T Inc. | 147,572,827 | 4,247,146 | |
* | Charter Communications Inc. Class A | 2,846,782 | 2,053,811 |
* | T-Mobile US Inc. | 12,112,691 | 1,754,281 |
Activision Blizzard Inc. | 16,061,180 | 1,532,879 | |
* | Twitter Inc. | 16,499,164 | 1,135,307 |
Electronic Arts Inc. | 5,916,614 | 850,987 | |
ViacomCBS Inc. Class B | 12,515,313 | 565,692 | |
* | Take-Two Interactive Software Inc. | 2,390,149 | 423,104 |
Omnicom Group Inc. | 4,446,427 | 355,670 | |
Lumen Technologies Inc. | 20,558,516 | 279,390 | |
News Corp. Class A | 10,419,421 | 268,509 | |
Interpublic Group of Cos. Inc. | 8,132,888 | 264,238 | |
* | Live Nation Entertainment Inc. | 2,986,336 | 261,573 |
Fox Corp. Class A | 6,751,012 | 250,665 | |
* | DISH Network Corp. Class A | 5,135,506 | 214,664 |
* | Discovery Inc. Class C | 6,224,186 | 180,377 |
Fox Corp. Class B | 3,147,387 | 110,788 | |
*,1 | Discovery Inc. Class A | 3,471,895 | 106,518 |
News Corp. Class B | 14,719 | 358 | |
83,592,065 | |||
Consumer Discretionary (12.2%) | |||
* | Amazon.com Inc. | 8,860,354 | 30,481,035 |
* | Tesla Inc. | 15,928,782 | 10,826,793 |
Home Depot Inc. | 21,976,017 | 7,007,932 | |
NIKE Inc. Class B | 26,351,684 | 4,071,072 | |
McDonald's Corp. | 15,422,665 | 3,562,481 | |
Lowe's Cos. Inc. | 14,610,378 | 2,833,975 | |
Starbucks Corp. | 24,354,756 | 2,723,105 | |
Target Corp. | 10,225,899 | 2,472,009 |
Shares | Market Value• ($000) | ||
* | Booking Holdings Inc. | 848,513 | 1,856,623 |
TJX Cos. Inc. | 24,927,708 | 1,680,626 | |
* | General Motors Co. | 26,386,880 | 1,561,312 |
* | Ford Motor Co. | 81,047,181 | 1,204,361 |
Dollar General Corp. | 4,882,840 | 1,056,598 | |
eBay Inc. | 13,374,943 | 939,055 | |
Ross Stores Inc. | 7,369,749 | 913,849 | |
* | Chipotle Mexican Grill Inc. Class A | 581,853 | 902,070 |
* | Aptiv plc | 5,591,382 | 879,692 |
* | O'Reilly Automotive Inc. | 1,441,786 | 816,354 |
* | Marriott International Inc. Class A | 5,518,394 | 753,371 |
Yum! Brands Inc. | 6,156,582 | 708,192 | |
* | Hilton Worldwide Holdings Inc. | 5,756,268 | 694,321 |
* | AutoZone Inc. | 446,967 | 666,973 |
DR Horton Inc. | 6,782,220 | 612,909 | |
Lennar Corp. Class A | 5,640,669 | 560,400 | |
VF Corp. | 6,645,771 | 545,219 | |
* | Etsy Inc. | 2,626,756 | 540,691 |
Best Buy Co. Inc. | 4,607,060 | 529,720 | |
* | Expedia Group Inc. | 2,923,204 | 478,558 |
* | Dollar Tree Inc. | 4,793,562 | 476,959 |
Garmin Ltd. | 3,097,094 | 447,964 | |
* | Caesars Entertainment Inc. | 4,313,173 | 447,492 |
Tractor Supply Co. | 2,381,935 | 443,183 | |
* | CarMax Inc. | 3,371,684 | 435,453 |
* | Carnival Corp. | 16,498,012 | 434,888 |
Darden Restaurants Inc. | 2,704,215 | 394,788 | |
* | Ulta Beauty Inc. | 1,132,008 | 391,414 |
* | Royal Caribbean Cruises Ltd. | 4,525,199 | 385,909 |
Pool Corp. | 829,423 | 380,423 | |
Genuine Parts Co. | 2,985,686 | 377,600 | |
Domino's Pizza Inc. | 802,514 | 374,365 | |
MGM Resorts International | 8,414,735 | 358,888 | |
* | Las Vegas Sands Corp. | 6,790,168 | 357,774 |
* | NVR Inc. | 70,593 | 351,080 |
L Brands Inc. | 4,842,112 | 348,923 | |
PulteGroup Inc. | 5,464,846 | 298,217 | |
* | LKQ Corp. | 5,745,617 | 282,799 |
Whirlpool Corp. | 1,294,059 | 282,131 | |
Advance Auto Parts Inc. | 1,352,602 | 277,473 |
Shares | Market Value• ($000) | ||
* | Wynn Resorts Ltd. | 2,175,900 | 266,113 |
* | Tapestry Inc. | 5,764,591 | 250,644 |
Hasbro Inc. | 2,644,223 | 249,932 | |
BorgWarner Inc. (XNYS) | 4,956,646 | 240,596 | |
* | Mohawk Industries Inc. | 1,210,107 | 232,570 |
* | Norwegian Cruise Line Holdings Ltd. | 7,645,441 | 224,852 |
Newell Brands Inc. | 7,821,600 | 214,859 | |
* | Penn National Gaming Inc. | 2,768,812 | 211,786 |
* | PVH Corp. | 1,473,115 | 158,492 |
Gap Inc. | 4,292,541 | 144,444 | |
Leggett & Platt Inc. | 2,755,746 | 142,775 | |
Hanesbrands Inc. | 7,219,055 | 134,780 | |
Ralph Lauren Corp. Class A | 998,350 | 117,616 | |
* | Under Armour Inc. Class A | 3,906,439 | 82,621 |
* | Under Armour Inc. Class C | 4,052,908 | 75,263 |
Lennar Corp. Class B | 76,975 | 6,270 | |
92,180,632 | |||
Consumer Staples (5.8%) | |||
Procter & Gamble Co. | 50,602,920 | 6,827,852 | |
Coca-Cola Co. | 80,205,846 | 4,339,938 | |
PepsiCo Inc. | 28,556,256 | 4,231,180 | |
Walmart Inc. | 28,378,386 | 4,001,920 | |
Costco Wholesale Corp. | 9,137,202 | 3,615,317 | |
Philip Morris International Inc. | 32,213,284 | 3,192,659 | |
Altria Group Inc. | 38,244,852 | 1,823,515 | |
Mondelez International Inc. Class A | 29,034,917 | 1,812,940 | |
Estee Lauder Cos. Inc. Class A | 4,793,351 | 1,524,669 | |
Colgate-Palmolive Co. | 17,486,519 | 1,422,528 | |
Kimberly-Clark Corp. | 6,975,551 | 933,189 | |
Sysco Corp. | 10,576,195 | 822,299 | |
Constellation Brands Inc. Class A | 3,492,489 | 816,858 | |
Walgreens Boots Alliance Inc. | 14,826,606 | 780,028 | |
General Mills Inc. | 12,605,465 | 768,051 | |
Archer-Daniels-Midland Co. | 11,546,462 | 699,716 | |
* | Monster Beverage Corp. | 7,646,088 | 698,470 |
Kroger Co. | 14,646,054 | 561,090 | |
Kraft Heinz Co. | 13,397,251 | 546,340 | |
Hershey Co. | 3,026,353 | 527,130 | |
Clorox Co. | 2,570,282 | 462,419 | |
McCormick & Co. Inc. | 5,146,076 | 454,501 | |
Tyson Foods Inc. Class A | 6,091,810 | 449,332 | |
Church & Dwight Co. Inc. | 5,068,606 | 431,947 | |
Conagra Brands Inc. | 9,919,011 | 360,854 | |
Kellogg Co. | 5,206,975 | 334,965 | |
J M Smucker Co. | 2,265,676 | 293,564 | |
Brown-Forman Corp. Class B | 3,776,101 | 282,981 | |
Hormel Foods Corp. | 5,825,146 | 278,151 | |
Lamb Weston Holdings Inc. | 3,025,196 | 244,012 |
Shares | Market Value• ($000) | ||
* | Molson Coors Beverage Co. Class B | 3,894,897 | 209,117 |
Campbell Soup Co. | 4,199,111 | 191,438 | |
43,938,970 | |||
Energy (2.8%) | |||
Exxon Mobil Corp. | 87,495,385 | 5,519,209 | |
Chevron Corp. | 39,942,482 | 4,183,576 | |
ConocoPhillips | 27,935,544 | 1,701,275 | |
EOG Resources Inc. | 12,061,031 | 1,006,372 | |
Schlumberger NV | 28,898,041 | 925,026 | |
Marathon Petroleum Corp. | 13,167,646 | 795,589 | |
Pioneer Natural Resources Co. | 4,789,426 | 778,378 | |
Phillips 66 | 9,049,201 | 776,602 | |
Kinder Morgan Inc. | 40,249,671 | 733,752 | |
Valero Energy Corp. | 8,447,605 | 659,589 | |
Williams Cos. Inc. | 21,505,626 | 570,974 | |
Occidental Petroleum Corp. | 17,361,672 | 542,899 | |
ONEOK Inc. | 9,207,970 | 512,331 | |
Hess Corp. | 5,673,093 | 495,374 | |
Halliburton Co. | 18,387,903 | 425,128 | |
Devon Energy Corp. | 12,311,179 | 359,363 | |
Diamondback Energy Inc. | 3,740,788 | 351,223 | |
Baker Hughes Co. Class A | 15,031,029 | 343,760 | |
Marathon Oil Corp. | 16,295,443 | 221,944 | |
APA Corp. | 7,807,101 | 168,868 | |
Cabot Oil & Gas Corp. | 8,246,434 | 143,983 | |
* | NOV Inc. | 8,073,490 | 123,686 |
21,338,901 | |||
Financials (11.2%) | |||
* | Berkshire Hathaway Inc. Class B | 38,987,484 | 10,835,402 |
JPMorgan Chase & Co. | 62,561,484 | 9,730,813 | |
Bank of America Corp. | 155,841,150 | 6,425,331 | |
Wells Fargo & Co. | 85,430,794 | 3,869,161 | |
Citigroup Inc. | 42,717,324 | 3,022,251 | |
Morgan Stanley | 30,764,598 | 2,820,806 | |
Goldman Sachs Group Inc. | 7,032,285 | 2,668,963 | |
BlackRock Inc. | 2,931,934 | 2,565,354 | |
Charles Schwab Corp. | 31,001,115 | 2,257,191 | |
American Express Co. | 13,448,769 | 2,222,140 | |
S&P Global Inc. | 4,979,184 | 2,043,706 | |
PNC Financial Services Group Inc. | 8,779,867 | 1,674,847 | |
U.S. Bancorp | 28,062,336 | 1,598,711 | |
CME Group Inc. | 7,422,451 | 1,578,607 | |
Truist Financial Corp. | 27,839,575 | 1,545,096 | |
Marsh & McLennan Cos. Inc. | 10,511,316 | 1,478,732 | |
Chubb Ltd. | 9,294,738 | 1,477,306 | |
Capital One Financial Corp. | 9,330,746 | 1,443,373 | |
Intercontinental Exchange Inc. | 11,630,181 | 1,380,502 | |
Moody's Corp. | 3,327,121 | 1,205,649 | |
Progressive Corp. | 12,093,815 | 1,187,734 | |
Aon plc Class A (XNYS) | 4,664,455 | 1,113,685 | |
T Rowe Price Group Inc. | 4,688,299 | 928,143 |
Shares | Market Value• ($000) | ||
MetLife Inc. | 15,377,573 | 920,348 | |
MSCI Inc. Class A | 1,703,869 | 908,298 | |
Bank of New York Mellon Corp. | 16,673,010 | 854,158 | |
American International Group Inc. | 17,734,384 | 844,157 | |
Prudential Financial Inc. | 8,142,085 | 834,319 | |
Allstate Corp. | 6,186,044 | 806,908 | |
Travelers Cos. Inc. | 5,197,295 | 778,087 | |
Discover Financial Services | 6,300,847 | 745,327 | |
Aflac Inc. | 13,062,488 | 700,933 | |
First Republic Bank | 3,637,111 | 680,758 | |
* | SVB Financial Group | 1,122,542 | 624,616 |
Willis Towers Watson plc | 2,665,235 | 613,057 | |
Ameriprise Financial Inc. | 2,395,518 | 596,197 | |
Arthur J Gallagher & Co. | 4,234,361 | 593,149 | |
Fifth Third Bancorp | 14,548,890 | 556,204 | |
Synchrony Financial | 11,177,833 | 542,348 | |
Northern Trust Corp. | 4,301,464 | 497,335 | |
Hartford Financial Services Group Inc. | 7,384,436 | 457,614 | |
Huntington Bancshares Inc. | 30,495,785 | 435,175 | |
State Street Corp. | 5,286,999 | 435,014 | |
Nasdaq Inc. | 2,373,921 | 417,335 | |
KeyCorp. | 20,056,728 | 414,171 | |
Citizens Financial Group Inc. | 8,802,478 | 403,770 | |
Regions Financial Corp. | 19,866,383 | 400,904 | |
M&T Bank Corp. | 2,660,172 | 386,550 | |
MarketAxess Holdings Inc. | 785,331 | 364,072 | |
Cincinnati Financial Corp. | 3,097,569 | 361,239 | |
Principal Financial Group Inc. | 5,227,819 | 330,346 | |
Raymond James Financial Inc. | 2,527,204 | 328,284 | |
Cboe Global Markets Inc. | 2,204,778 | 262,479 | |
Loews Corp. | 4,623,196 | 252,658 | |
Lincoln National Corp. | 3,698,440 | 232,410 | |
W R Berkley Corp. | 2,899,110 | 215,781 | |
Invesco Ltd. | 7,820,851 | 209,051 | |
Everest Re Group Ltd. | 828,414 | 208,769 | |
Comerica Inc. | 2,885,553 | 205,855 | |
Assurant Inc. | 1,251,726 | 195,495 | |
Globe Life Inc. | 1,960,645 | 186,751 | |
Franklin Resources Inc. | 5,624,515 | 179,928 | |
Zions Bancorp NA | 3,381,083 | 178,724 | |
People's United Financial Inc. | 8,838,111 | 151,485 | |
Unum Group | 4,221,669 | 119,895 | |
* | Berkshire Hathaway Inc. Class A | 124 | 51,907 |
84,555,364 | |||
Health Care (13.0%) | |||
Johnson & Johnson | 54,428,748 | 8,966,592 | |
UnitedHealth Group Inc. | 19,503,281 | 7,809,894 | |
Pfizer Inc. | 115,696,924 | 4,530,692 |
Shares | Market Value• ($000) | ||
Abbott Laboratories | 36,722,288 | 4,257,215 | |
AbbVie Inc. | 36,505,435 | 4,111,972 | |
Thermo Fisher Scientific Inc. | 8,123,475 | 4,098,049 | |
Merck & Co. Inc. | 52,333,846 | 4,070,003 | |
Eli Lilly & Co. | 16,452,216 | 3,776,113 | |
Danaher Corp. | 13,119,120 | 3,520,647 | |
Medtronic plc | 27,851,495 | 3,457,206 | |
Bristol-Myers Squibb Co. | 46,171,394 | 3,085,173 | |
Amgen Inc. | 11,875,253 | 2,894,593 | |
CVS Health Corp. | 27,254,091 | 2,274,081 | |
* | Intuitive Surgical Inc. | 2,447,101 | 2,250,452 |
Anthem Inc. | 5,059,847 | 1,931,850 | |
Zoetis Inc. | 9,812,753 | 1,828,705 | |
Gilead Sciences Inc. | 25,922,451 | 1,785,020 | |
Stryker Corp. | 6,773,631 | 1,759,315 | |
Cigna Corp. | 7,091,460 | 1,681,172 | |
Becton Dickinson and Co. | 6,009,999 | 1,461,572 | |
* | Illumina Inc. | 3,017,284 | 1,427,809 |
* | Edwards Lifesciences Corp. | 12,846,688 | 1,330,531 |
* | Boston Scientific Corp. | 29,364,371 | 1,255,620 |
* | Regeneron Pharmaceuticals Inc. | 2,163,519 | 1,208,412 |
Humana Inc. | 2,666,151 | 1,180,358 | |
HCA Healthcare Inc. | 5,431,252 | 1,122,857 | |
* | IDEXX Laboratories Inc. | 1,762,358 | 1,113,017 |
* | Vertex Pharmaceuticals Inc. | 5,349,641 | 1,078,648 |
* | Biogen Inc. | 3,112,165 | 1,077,649 |
* | IQVIA Holdings Inc. | 3,961,043 | 959,840 |
Agilent Technologies Inc. | 6,271,278 | 926,958 | |
* | Align Technology Inc. | 1,488,319 | 909,363 |
* | Centene Corp. | 12,042,515 | 878,261 |
* | DexCom Inc. | 1,998,494 | 853,357 |
* | Alexion Pharmaceuticals Inc. | 4,567,637 | 839,121 |
Baxter International Inc. | 10,391,822 | 836,542 | |
ResMed Inc. | 3,007,203 | 741,336 | |
Zimmer Biomet Holdings Inc. | 4,308,596 | 692,908 | |
* | Mettler-Toledo International Inc. | 480,830 | 666,113 |
McKesson Corp. | 3,269,045 | 625,172 | |
* | Laboratory Corp. of America Holdings | 2,017,860 | 556,627 |
West Pharmaceutical Services Inc. | 1,525,703 | 547,880 | |
Cerner Corp. | 6,226,504 | 486,664 | |
* | Waters Corp. | 1,275,580 | 440,853 |
STERIS plc | 2,018,116 | 416,337 | |
Cooper Cos. Inc. | 1,017,723 | 403,293 | |
Teleflex Inc. | 965,845 | 388,067 | |
* | Charles River Laboratories International Inc. | 1,038,737 | 384,250 |
* | Catalent Inc. | 3,520,354 | 380,621 |
PerkinElmer Inc. | 2,316,729 | 357,726 | |
Viatris Inc. | 24,977,818 | 356,933 |
Shares | Market Value• ($000) | ||
Quest Diagnostics Inc. | 2,699,757 | 356,287 | |
* | Hologic Inc. | 5,295,355 | 353,306 |
AmerisourceBergen Corp. Class A | 3,056,323 | 349,918 | |
Cardinal Health Inc. | 5,995,959 | 342,309 | |
* | Incyte Corp. | 3,866,041 | 325,250 |
* | ABIOMED Inc. | 936,040 | 292,147 |
* | Bio-Rad Laboratories Inc. Class A | 445,081 | 286,761 |
DENTSPLY SIRONA Inc. | 4,511,860 | 285,420 | |
Universal Health Services Inc. Class B | 1,611,412 | 235,959 | |
* | Henry Schein Inc. | 2,907,653 | 215,719 |
* | DaVita Inc. | 1,449,810 | 174,601 |
* | Organon & Co. | 5,234,530 | 158,397 |
Perrigo Co. plc | 2,760,788 | 126,582 | |
97,496,095 | |||
Industrials (8.5%) | |||
Honeywell International Inc. | 14,355,610 | 3,148,903 | |
United Parcel Service Inc. Class B | 14,950,303 | 3,109,214 | |
Union Pacific Corp. | 13,730,059 | 3,019,652 | |
* | Boeing Co. | 11,362,380 | 2,721,972 |
Raytheon Technologies Corp. | 31,314,013 | 2,671,398 | |
Caterpillar Inc. | 11,322,514 | 2,464,119 | |
General Electric Co. | 181,450,755 | 2,442,327 | |
3M Co. | 11,981,282 | 2,379,842 | |
Deere & Co. | 6,447,834 | 2,274,216 | |
Lockheed Martin Corp. | 5,055,163 | 1,912,621 | |
CSX Corp. | 46,967,632 | 1,506,722 | |
FedEx Corp. | 5,045,959 | 1,505,361 | |
Norfolk Southern Corp. | 5,172,798 | 1,372,912 | |
Illinois Tool Works Inc. | 5,941,570 | 1,328,297 | |
Eaton Corp. plc | 8,236,966 | 1,220,554 | |
Emerson Electric Co. | 12,394,620 | 1,192,858 | |
Northrop Grumman Corp. | 3,094,456 | 1,124,618 | |
Waste Management Inc. | 8,025,642 | 1,124,473 | |
Roper Technologies Inc. | 2,175,558 | 1,022,947 | |
Johnson Controls International plc | 14,816,243 | 1,016,839 | |
L3Harris Technologies Inc. | 4,236,273 | 915,670 | |
Trane Technologies plc | 4,943,929 | 910,375 | |
General Dynamics Corp. | 4,730,385 | 890,542 | |
IHS Markit Ltd. | 7,741,943 | 872,207 | |
Carrier Global Corp. | 16,883,171 | 820,522 | |
Parker-Hannifin Corp. | 2,667,006 | 819,064 | |
Cummins Inc. | 3,021,335 | 736,632 | |
* | TransDigm Group Inc. | 1,134,867 | 734,588 |
Cintas Corp. | 1,823,565 | 696,602 | |
Rockwell Automation Inc. | 2,399,723 | 686,369 | |
Stanley Black & Decker Inc. | 3,337,452 | 684,144 | |
Otis Worldwide Corp. | 8,336,460 | 681,672 | |
* | Southwest Airlines Co. | 12,220,731 | 648,799 |
Shares | Market Value• ($000) | ||
PACCAR Inc. | 7,173,882 | 640,269 | |
AMETEK Inc. | 4,771,762 | 637,030 | |
Fastenal Co. | 11,868,815 | 617,178 | |
Equifax Inc. | 2,515,994 | 602,606 | |
Verisk Analytics Inc. Class A | 3,349,700 | 585,260 | |
* | Delta Air Lines Inc. | 13,227,423 | 572,218 |
* | Copart Inc. | 4,302,417 | 567,188 |
* | Generac Holdings Inc. | 1,301,020 | 540,118 |
Kansas City Southern | 1,879,395 | 532,564 | |
Old Dominion Freight Line Inc. | 1,965,273 | 498,786 | |
Fortive Corp. | 6,995,656 | 487,877 | |
Republic Services Inc. Class A | 4,351,317 | 478,688 | |
* | United Rentals Inc. | 1,495,889 | 477,204 |
Dover Corp. | 2,974,319 | 447,932 | |
Xylem Inc. | 3,720,494 | 446,310 | |
Expeditors International of Washington Inc. | 3,490,204 | 441,860 | |
* | Teledyne Technologies Inc. | 959,900 | 402,035 |
WW Grainger Inc. | 904,616 | 396,222 | |
* | Ingersoll Rand Inc. | 7,715,029 | 376,571 |
Jacobs Engineering Group Inc. | 2,691,295 | 359,073 | |
* | United Airlines Holdings Inc. | 6,687,012 | 349,664 |
IDEX Corp. | 1,569,365 | 345,339 | |
Textron Inc. | 4,664,927 | 320,807 | |
Masco Corp. | 5,243,997 | 308,924 | |
Westinghouse Air Brake Technologies Corp. | 3,671,433 | 302,159 | |
Fortune Brands Home & Security Inc. | 2,862,192 | 285,103 | |
JB Hunt Transport Services Inc. | 1,725,819 | 281,222 | |
* | American Airlines Group Inc. | 13,254,933 | 281,137 |
* | Howmet Aerospace Inc. | 8,078,966 | 278,482 |
Leidos Holdings Inc. | 2,747,266 | 277,749 | |
Quanta Services Inc. | 2,880,262 | 260,865 | |
Allegion plc | 1,859,353 | 259,008 | |
CH Robinson Worldwide Inc. | 2,748,098 | 257,414 | |
Snap-on Inc. | 1,118,386 | 249,881 | |
Pentair plc | 3,435,825 | 231,884 | |
Robert Half International Inc. | 2,330,467 | 207,342 | |
A O Smith Corp. | 2,778,791 | 200,240 | |
Nielsen Holdings plc | 7,409,373 | 182,789 | |
Huntington Ingalls Industries Inc. | 831,419 | 175,222 | |
Rollins Inc. | 4,575,932 | 156,497 | |
* | Alaska Air Group Inc. | 2,573,652 | 155,217 |
64,130,965 | |||
Information Technology (27.3%) | |||
Apple Inc. | 324,220,488 | 44,405,238 | |
Microsoft Corp. | 155,669,485 | 42,170,863 | |
NVIDIA Corp. | 12,876,785 | 10,302,716 | |
Visa Inc. Class A | 34,717,256 | 8,117,589 | |
* | PayPal Holdings Inc. | 24,280,315 | 7,077,226 |
Mastercard Inc. Class A | 18,080,552 | 6,601,029 | |
* | Adobe Inc. | 9,879,737 | 5,785,969 |
Shares | Market Value• ($000) | ||
Intel Corp. | 83,460,441 | 4,685,469 | |
* | salesforce.com Inc. | 19,139,536 | 4,675,214 |
Cisco Systems Inc. | 87,102,010 | 4,616,407 | |
Broadcom Inc. | 8,439,079 | 4,024,090 | |
Accenture plc Class A | 13,137,798 | 3,872,891 | |
Texas Instruments Inc. | 19,087,922 | 3,670,607 | |
QUALCOMM Inc. | 23,314,573 | 3,332,352 | |
Oracle Corp. | 37,547,686 | 2,922,712 | |
Intuit Inc. | 5,648,064 | 2,768,512 | |
International Business Machines Corp. | 18,467,705 | 2,707,181 | |
Applied Materials Inc. | 18,967,843 | 2,701,021 | |
* | Advanced Micro Devices Inc. | 25,114,039 | 2,358,962 |
* | ServiceNow Inc. | 4,081,254 | 2,242,853 |
* | Micron Technology Inc. | 23,179,309 | 1,969,778 |
Lam Research Corp. | 2,947,976 | 1,918,248 | |
Fidelity National Information Services Inc. | 12,817,666 | 1,815,879 | |
Automatic Data Processing Inc. | 8,795,436 | 1,746,949 | |
* | Autodesk Inc. | 4,547,958 | 1,327,549 |
* | Fiserv Inc. | 12,311,493 | 1,315,975 |
Analog Devices Inc. | 7,623,950 | 1,312,539 | |
NXP Semiconductors NV | 5,700,217 | 1,172,649 | |
Global Payments Inc. | 6,101,000 | 1,144,182 | |
KLA Corp. | 3,168,771 | 1,027,347 | |
TE Connectivity Ltd. | 6,824,217 | 922,702 | |
* | Synopsys Inc. | 3,153,753 | 869,774 |
Microchip Technology Inc. | 5,652,657 | 846,429 | |
Amphenol Corp. Class A | 12,349,583 | 844,835 | |
* | Cadence Design Systems Inc. | 5,752,981 | 787,123 |
Motorola Solutions Inc. | 3,506,477 | 760,380 | |
Cognizant Technology Solutions Corp. Class A | 10,899,711 | 754,914 | |
HP Inc. | 24,835,609 | 749,787 | |
Xilinx Inc. | 5,080,478 | 734,840 | |
Paychex Inc. | 6,629,328 | 711,327 | |
* | Fortinet Inc. | 2,801,502 | 667,290 |
Corning Inc. | 16,010,123 | 654,814 | |
Skyworks Solutions Inc. | 3,411,811 | 654,215 | |
* | ANSYS Inc. | 1,801,154 | 625,108 |
* | Keysight Technologies Inc. | 3,807,159 | 587,863 |
* | Zebra Technologies Corp. Class A | 1,105,905 | 585,566 |
Maxim Integrated Products Inc. | 5,549,095 | 584,653 | |
* | Enphase Energy Inc. | 2,804,385 | 514,969 |
CDW Corp. | 2,897,374 | 506,026 | |
* | VeriSign Inc. | 2,048,134 | 466,340 |
Teradyne Inc. | 3,435,996 | 460,286 | |
* | Qorvo Inc. | 2,326,828 | 455,244 |
* | Western Digital Corp. | 6,333,028 | 450,722 |
* | FleetCor Technologies Inc. | 1,723,348 | 441,280 |
* | Gartner Inc. | 1,779,529 | 431,002 |
* | Trimble Inc. | 5,187,221 | 424,470 |
* | Arista Networks Inc. | 1,136,003 | 411,585 |
Shares | Market Value• ($000) | ||
Hewlett Packard Enterprise Co. | 26,986,562 | 393,464 | |
* | Akamai Technologies Inc. | 3,369,540 | 392,888 |
Broadridge Financial Solutions Inc. | 2,400,143 | 387,695 | |
* | Tyler Technologies Inc. | 841,970 | 380,882 |
NetApp Inc. | 4,602,647 | 376,589 | |
* | Paycom Software Inc. | 1,015,112 | 368,963 |
Seagate Technology Holdings plc | 4,115,019 | 361,834 | |
Monolithic Power Systems Inc. | 888,902 | 331,960 | |
NortonLifeLock Inc. | 11,985,476 | 326,245 | |
* | PTC Inc. | 2,173,723 | 307,060 |
Citrix Systems Inc. | 2,566,055 | 300,921 | |
Jack Henry & Associates Inc. | 1,535,227 | 251,025 | |
* | F5 Networks Inc. | 1,232,114 | 229,986 |
* | DXC Technology Co. | 5,268,461 | 205,154 |
Western Union Co. | 8,458,413 | 194,290 | |
Juniper Networks Inc. | 6,776,479 | 185,337 | |
* | IPG Photonics Corp. | 743,016 | 156,605 |
205,844,438 | |||
Materials (2.6%) | |||
Linde plc | 10,751,765 | 3,108,335 | |
Sherwin-Williams Co. | 4,947,569 | 1,347,965 | |
Air Products and Chemicals Inc. | 4,574,563 | 1,316,010 | |
Freeport-McMoRan Inc. | 30,295,362 | 1,124,261 | |
Ecolab Inc. | 5,142,288 | 1,059,157 | |
Newmont Corp. | 16,561,297 | 1,049,655 | |
Dow Inc. | 15,436,990 | 976,853 | |
DuPont de Nemours Inc. | 10,996,953 | 851,274 | |
PPG Industries Inc. | 4,901,471 | 832,123 | |
International Flavors & Fragrances Inc. | 5,144,079 | 768,525 | |
Corteva Inc. | 15,232,839 | 675,577 | |
Nucor Corp. | 6,184,128 | 593,243 | |
Ball Corp. | 6,786,703 | 549,859 | |
LyondellBasell Industries NV Class A | 5,320,198 | 547,289 | |
International Paper Co. | 8,094,911 | 496,299 | |
Vulcan Materials Co. | 2,741,433 | 477,201 | |
Martin Marietta Materials Inc. | 1,288,830 | 453,423 | |
Albemarle Corp. | 2,412,223 | 406,363 | |
Amcor plc | 31,856,984 | 365,081 | |
Avery Dennison Corp. | 1,716,501 | 360,877 | |
Celanese Corp. Class A | 2,327,827 | 352,899 | |
Eastman Chemical Co. | 2,821,318 | 329,389 | |
Westrock Co. | 5,499,108 | 292,663 | |
FMC Corp. | 2,663,303 | 288,169 | |
Packaging Corp. of America | 1,962,797 | 265,802 | |
CF Industries Holdings Inc. | 4,433,307 | 228,094 | |
Mosaic Co. | 7,142,867 | 227,929 | |
Sealed Air Corp. | 3,143,702 | 186,264 | |
19,530,579 |
Shares | Market Value• ($000) | ||
Real Estate (2.6%) | |||
American Tower Corp. | 9,398,018 | 2,538,781 | |
Prologis Inc. | 15,290,577 | 1,827,683 | |
Crown Castle International Corp. | 8,933,053 | 1,742,839 | |
Equinix Inc. | 1,851,601 | 1,486,095 | |
Public Storage | 3,147,050 | 946,286 | |
Simon Property Group Inc. | 6,791,727 | 886,185 | |
Digital Realty Trust Inc. | 5,819,185 | 875,555 | |
SBA Communications Corp. Class A | 2,260,583 | 720,448 | |
Welltower Inc. | 8,628,182 | 717,002 | |
AvalonBay Communities Inc. | 2,884,932 | 602,056 | |
* | CBRE Group Inc. Class A | 6,936,755 | 594,688 |
Equity Residential | 7,110,409 | 547,501 | |
Weyerhaeuser Co. | 15,483,308 | 532,935 | |
Alexandria Real Estate Equities Inc. | 2,834,688 | 515,743 | |
Realty Income Corp. | 7,719,928 | 515,228 | |
Extra Space Storage Inc. | 2,763,592 | 452,732 | |
Ventas Inc. | 7,752,349 | 442,659 | |
Essex Property Trust Inc. | 1,343,975 | 403,206 | |
Mid-America Apartment Communities Inc. | 2,366,080 | 398,495 | |
Healthpeak Properties Inc. | 11,136,886 | 370,747 | |
Duke Realty Corp. | 7,749,678 | 366,947 | |
Boston Properties Inc. | 2,935,042 | 336,326 | |
UDR Inc. | 6,137,540 | 300,617 | |
Iron Mountain Inc. | 5,968,832 | 252,601 | |
* | Host Hotels & Resorts Inc. | 14,592,051 | 249,378 |
Regency Centers Corp. | 3,263,408 | 209,087 | |
Kimco Realty Corp. | 8,958,056 | 186,775 | |
Federal Realty Investment Trust | 1,462,226 | 171,329 | |
Vornado Realty Trust | 3,247,925 | 151,581 | |
19,341,505 | |||
Utilities (2.4%) | |||
NextEra Energy Inc. | 40,539,888 | 2,970,763 | |
Duke Energy Corp. | 15,899,689 | 1,569,617 | |
Southern Co. | 21,882,024 | 1,324,081 | |
Dominion Energy Inc. | 16,670,557 | 1,226,453 | |
Exelon Corp. | 20,194,186 | 894,804 | |
American Electric Power Co. Inc. | 10,331,409 | 873,934 | |
Sempra Energy | 6,511,128 | 862,594 |
Shares | Market Value• ($000) | ||
Xcel Energy Inc. | 11,126,891 | 733,040 | |
Public Service Enterprise Group Inc. | 10,437,954 | 623,563 | |
WEC Energy Group Inc. | 6,521,639 | 580,100 | |
American Water Works Co. Inc. | 3,750,057 | 577,996 | |
Eversource Energy | 7,097,692 | 569,519 | |
DTE Energy Co. | 4,003,952 | 518,912 | |
Edison International | 7,841,139 | 453,375 | |
PPL Corp. | 15,900,749 | 444,744 | |
Ameren Corp. | 5,281,064 | 422,696 | |
FirstEnergy Corp. | 11,240,224 | 418,249 | |
Entergy Corp. | 4,146,796 | 413,436 | |
AES Corp. | 13,768,099 | 358,934 | |
CMS Energy Corp. | 5,982,122 | 353,424 | |
Consolidated Edison Inc. | 4,684,116 | 335,945 | |
CenterPoint Energy Inc. | 11,996,401 | 294,152 | |
Alliant Energy Corp. | 5,169,988 | 288,278 | |
Evergy Inc. | 4,738,294 | 286,335 | |
Atmos Energy Corp. | 2,700,746 | 259,569 | |
NRG Energy Inc. | 5,061,686 | 203,986 | |
NiSource Inc. | 8,110,466 | 198,706 | |
Pinnacle West Capital Corp. | 2,331,900 | 191,146 | |
18,248,351 | |||
Total Common Stocks (Cost $391,980,002) | 750,197,865 | ||
Temporary Cash Investments (0.5%) | |||
Money Market Fund (0.5%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.056% (Cost $3,654,902) | 36,556,991 | 3,655,699 |
Total Investments (100.0%) (Cost $395,634,904) | 753,853,564 | ||
Other Assets and Liabilities—Net (0.0%) | (328,073) | ||
Net Assets (100%) | 753,525,491 | ||
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 $28,612,000. |
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 $28,911,000 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 2021 | 13,371 | 2,867,144 | 35,426 |
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) |
Consolidated Edison Inc. | 8/31/21 | BOANA | 100,408 | (0.636) | 1,030 | — |
Consolidated Edison Inc. | 8/31/21 | BOANA | 71,720 | (0.486) | 745 | — |
Kroger Co. | 1/31/22 | GSI | 37,870 | (0.082) | 439 | — |
Netflix Inc. | 8/31/21 | BOANA | 52,821 | (0.086) | — | (3) |
Penn National Gaming Inc. | 8/31/21 | BOANA | 22,947 | (0.536) | — | (12) |
State Street Corp. | 8/31/22 | BOANA | 156,332 | (0.586) | 910 | — |
Visa Inc. | 8/31/21 | BOANA | 58,455 | 0.014 | 81 | — |
Williams Cos. Inc. | 8/31/21 | BOANA | 95,580 | (0.486) | 1,439 | — |
4,644 | (15) |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR ) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $391,980,002) | 750,197,865 |
Affiliated Issuers (Cost $3,654,902) | 3,655,699 |
Total Investments in Securities | 753,853,564 |
Investment in Vanguard | 25,688 |
Cash | 152,852 |
Cash Collateral Pledged—Futures Contracts | 152,479 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 15,540 |
Receivables for Investment Securities Sold | 3,719,577 |
Receivables for Accrued Income | 436,163 |
Receivables for Capital Shares Issued | 299,500 |
Variation Margin Receivable—Futures Contracts | 4,455 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 4,644 |
Total Assets | 758,664,462 |
Liabilities | |
Payables for Investment Securities Purchased | 176,748 |
Collateral for Securities on Loan | 28,911 |
Payables for Capital Shares Redeemed | 4,135,865 |
Payables for Distributions | 787,228 |
Payables to Vanguard | 10,204 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 15 |
Total Liabilities | 5,138,971 |
Net Assets | 753,525,491 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 392,898,851 |
Total Distributable Earnings (Loss) | 360,626,640 |
Net Assets | 753,525,491 |
Investor Shares—Net Assets | |
Applicable to 12,033,436 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,773,674 |
Net Asset Value Per Share—Investor Shares | $396.70 |
ETF Shares—Net Assets | |
Applicable to 591,338,298 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 232,771,820 |
Net Asset Value Per Share—ETF Shares | $393.64 |
Admiral Shares—Net Assets | |
Applicable to 1,033,855,285 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 410,092,485 |
Net Asset Value Per Share—Admiral Shares | $396.66 |
Institutional Select Shares—Net Assets | |
Applicable to 503,781,827 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 105,887,512 |
Net Asset Value Per Share—Institutional Select Shares | $210.19 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 4,839,278 |
Interest1 | 944 |
Securities Lending—Net | 3,296 |
Total Income | 4,843,518 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 5,650 |
Management and Administrative—Investor Shares | 3,060 |
Management and Administrative—ETF Shares | 23,991 |
Management and Administrative—Admiral Shares | 67,020 |
Management and Administrative—Institutional Select Shares | 4,020 |
Marketing and Distribution—Investor Shares | 96 |
Marketing and Distribution—ETF Shares | 3,445 |
Marketing and Distribution—Admiral Shares | 4,396 |
Marketing and Distribution—Institutional Select Shares | 1 |
Custodian Fees | 1,377 |
Shareholders’ Reports—Investor Shares | 7 |
Shareholders’ Reports—ETF Shares | 1,294 |
Shareholders’ Reports—Admiral Shares | 830 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 95 |
Total Expenses | 115,282 |
Net Investment Income | 4,728,236 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 10,463,836 |
Futures Contracts | 345,153 |
Swap Contracts | 72,959 |
Realized Net Gain (Loss) | 10,881,948 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 83,438,495 |
Futures Contracts | 6,591 |
Swap Contracts | (794) |
Change in Unrealized Appreciation (Depreciation) | 83,444,292 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 99,054,476 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $918,000, $129,000, and ($129,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $10,348,047,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 4,728,236 | 10,026,083 | |
Realized Net Gain (Loss) | 10,881,948 | 26,755,026 | |
Change in Unrealized Appreciation (Depreciation) | 83,444,292 | 63,111,484 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 99,054,476 | 99,892,593 | |
Distributions | |||
Investor Shares | (29,570) | (71,146) | |
ETF Shares | (1,501,696) | (2,722,198) | |
Admiral Shares | (2,675,684) | (5,575,193) | |
Institutional Select Shares | (727,085) | (1,461,548) | |
Total Distributions | (4,934,035) | (9,830,085) | |
Capital Share Transactions | |||
Investor Shares | (352,578) | (861,357) | |
ETF Shares | 26,848,864 | 21,243,502 | |
Admiral Shares | (1,252,290) | (10,267,593) | |
Institutional Select Shares | (2,756,182) | 434,639 | |
Net Increase (Decrease) from Capital Share Transactions | 22,487,814 | 10,549,191 | |
Total Increase (Decrease) | 116,608,255 | 100,611,699 | |
Net Assets | |||
Beginning of Period | 636,917,236 | 536,305,537 | |
End of Period | 753,525,491 | 636,917,236 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $346.60 | $298.16 | $231.44 | $246.82 | $206.57 | $188.48 |
Investment Operations | ||||||
Net Investment Income | 2.3151 | 5.1281 | 4.8011 | 4.8961 | 4.2211 | 3.997 |
Net Realized and Unrealized Gain (Loss) on Investments | 50.185 | 48.323 | 67.211 | (15.776) | 40.205 | 18.069 |
Total from Investment Operations | 52.500 | 53.451 | 72.012 | (10.880) | 44.426 | 22.066 |
Distributions | ||||||
Dividends from Net Investment Income | (2.400) | (5.011) | (5.292) | (4.500) | (4.176) | (3.976) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.400) | (5.011) | (5.292) | (4.500) | (4.176) | (3.976) |
Net Asset Value, End of Period | $396.70 | $346.60 | $298.16 | $231.44 | $246.82 | $206.57 |
Total Return2 | 15.18% | 18.25% | 31.33% | -4.52% | 21.67% | 11.82% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $4,774 | $4,504 | $4,723 | $23,162 | $27,656 | $26,652 |
Ratio of Total Expenses to Average Net Assets | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% |
Ratio of Net Investment Income to Average Net Assets | 1.25% | 1.73% | 1.82% | 1.95% | 1.87% | 2.05% |
Portfolio Turnover Rate3 | 1% | 4% | 4% | 4% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $343.93 | $295.87 | $229.68 | $244.94 | $205.00 | $187.05 |
Investment Operations | ||||||
Net Investment Income | 2.5121 | 5.4131 | 5.2981 | 5.1961 | 4.4341 | 4.155 |
Net Realized and Unrealized Gain (Loss) on Investments | 49.793 | 47.950 | 66.463 | (15.719) | 39.874 | 17.933 |
Total from Investment Operations | 52.305 | 53.363 | 71.761 | (10.523) | 44.308 | 22.088 |
Distributions | ||||||
Dividends from Net Investment Income | (2.595) | (5.303) | (5.571) | (4.737) | (4.368) | (4.138) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.595) | (5.303) | (5.571) | (4.737) | (4.368) | (4.138) |
Net Asset Value, End of Period | $393.64 | $343.93 | $295.87 | $229.68 | $244.94 | $205.00 |
Total Return | 15.24% | 18.35% | 31.46% | -4.42% | 21.78% | 11.93% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $232,772 | $177,991 | $130,728 | $90,639 | $83,640 | $56,648 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03% | 0.03% | 0.03% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.36% | 1.83% | 1.98% | 2.06% | 1.97% | 2.15% |
Portfolio Turnover Rate2 | 1% | 4% | 4% | 4% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $346.57 | $298.14 | $231.44 | $246.82 | $206.57 | $188.48 |
Investment Operations | ||||||
Net Investment Income | 2.5041 | 5.4271 | 5.3191 | 5.1811 | 4.4581 | 4.185 |
Net Realized and Unrealized Gain (Loss) on Investments | 50.180 | 48.314 | 66.962 | (15.808) | 40.193 | 18.074 |
Total from Investment Operations | 52.684 | 53.741 | 72.281 | (10.627) | 44.651 | 22.259 |
Distributions | ||||||
Dividends from Net Investment Income | (2.594) | (5.311) | (5.581) | (4.753) | (4.401) | (4.169) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.594) | (5.311) | (5.581) | (4.753) | (4.401) | (4.169) |
Net Asset Value, End of Period | $396.66 | $346.57 | $298.14 | $231.44 | $246.82 | $206.57 |
Total Return2 | 15.24% | 18.37% | 31.46% | -4.43% | 21.79% | 11.93% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $410,092 | $359,553 | $319,624 | $230,375 | $235,232 | $181,513 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.35% | 1.83% | 1.97% | 2.05% | 1.97% | 2.15% |
Portfolio Turnover Rate3 | 1% | 4% | 4% | 4% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 Select Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | June 24, 20161 to December 31, 2016 | |||
2020 | 2019 | 2018 | 2017 | |||
Net Asset Value, Beginning of Period | $183.64 | $157.98 | $122.64 | $130.79 | $109.45 | $99.57 |
Investment Operations | ||||||
Net Investment Income | 1.3562 | 2.9242 | 2.8572 | 2.8082 | 2.4232 | 1.200 |
Net Realized and Unrealized Gain (Loss) on Investments | 26.599 | 25.597 | 35.484 | (8.400) | 21.283 | 9.859 |
Total from Investment Operations | 27.955 | 28.521 | 38.341 | (5.592) | 23.706 | 11.059 |
Distributions | ||||||
Dividends from Net Investment Income | (1.405) | (2.861) | (3.001) | (2.558) | (2.366) | (1.179) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.405) | (2.861) | (3.001) | (2.558) | (2.366) | (1.179) |
Net Asset Value, End of Period | $210.19 | $183.64 | $157.98 | $122.64 | $130.79 | $109.45 |
Total Return | 15.26% | 18.40% | 31.49% | -4.40% | 21.83% | 11.12% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $105,888 | $94,870 | $81,230 | $56,531 | $44,907 | $17,753 |
Ratio of Total Expenses to Average Net Assets | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01%3 |
Ratio of Net Investment Income to Average Net Assets | 1.38% | 1.86% | 2.00% | 2.08% | 2.00% | 2.26%3 |
Portfolio Turnover Rate4 | 1% | 4% | 4% | 4% | 3% | 4%5 |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
5 | Reflects the fund’s portfolio turnover for the fiscal year ended December 31, 2016. |
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 | 750,197,865 | — | — | 750,197,865 |
Temporary Cash Investments | 3,655,699 | — | — | 3,655,699 |
Total | 753,853,564 | — | — | 753,853,564 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 35,426 | — | — | 35,426 |
Swap Contracts | — | 4,644 | — | 4,644 |
Total | 35,426 | 4,644 | — | 40,070 |
Liabilities | ||||
Swap Contracts | — | 15 | — | 15 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 395,789,858 |
Gross Unrealized Appreciation | 364,474,876 |
Gross Unrealized Depreciation | (6,375,744) |
Net Unrealized Appreciation (Depreciation) | 358,099,132 |
E. | During the six months ended June 30, 2021, the fund purchased $43,649,683,000 of investment securities and sold $21,215,555,000 of investment securities, other than temporary cash investments. Purchases and sales include $34,322,180,000 and $13,612,534,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 96,609 | 260 | 200,895 | 689 | |
Issued in Lieu of Cash Distributions | 29,567 | 78 | 71,140 | 244 | |
Redeemed | (478,754) | (1,299) | (1,133,392) | (3,781) | |
Net Increase (Decrease)—Investor Shares | (352,578) | (961) | (861,357) | (2,848) | |
ETF Shares | |||||
Issued | 36,789,455 | 100,769 | 63,687,902 | 221,707 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (9,940,591) | (26,950) | (42,444,400) | (146,025) | |
Net Increase (Decrease)—ETF Shares | 26,848,864 | 73,819 | 21,243,502 | 75,682 | |
Admiral Shares | |||||
Issued | 21,777,288 | 58,931 | 41,835,006 | 146,878 | |
Issued in Lieu of Cash Distributions | 2,343,630 | 6,200 | 4,891,793 | 16,726 | |
Redeemed | (25,373,208) | (68,727) | (56,994,392) | (198,197) | |
Net Increase (Decrease)—Admiral Shares | (1,252,290) | (3,596) | (10,267,593) | (34,593) | |
Institutional Select Shares | |||||
Issued | 3,516,141 | 18,196 | 6,510,968 | 41,288 | |
Issued in Lieu of Cash Distributions | 727,085 | 3,629 | 1,461,548 | 9,420 | |
Redeemed | (6,999,408) | (34,640) | (7,537,877) | (48,280) | |
Net Increase (Decrease)—Institutional Select Shares | (2,756,182) | (12,815) | 434,639 | 2,428 |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
All rights reserved.
U.S. Patent Nos. 6,879,964; 7,337,138; 7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636.
Vanguard Marketing Corporation, Distributor.
Vanguard Small-Cap Index Fund |
Vanguard Small-Cap Growth Index Fund |
Vanguard Small-Cap Value Index Fund |
• | 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 June 30, 2021 | |||
Beginning Account Value 12/31/2020 | Ending Account Value 6/30/2021 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Small-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,163.30 | $0.91 |
ETF Shares | 1,000.00 | 1,163.90 | 0.27 |
AdmiralTM Shares | 1,000.00 | 1,163.90 | 0.27 |
Institutional Shares | 1,000.00 | 1,163.90 | 0.21 |
Institutional Plus Shares | 1,000.00 | 1,164.00 | 0.16 |
Small-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,084.60 | $0.98 |
ETF Shares | 1,000.00 | 1,085.40 | 0.36 |
Admiral Shares | 1,000.00 | 1,085.20 | 0.36 |
Institutional Shares | 1,000.00 | 1,085.30 | 0.31 |
Small-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $1,230.30 | $1.05 |
ETF Shares | 1,000.00 | 1,231.00 | 0.39 |
Admiral Shares | 1,000.00 | 1,231.20 | 0.39 |
Institutional Shares | 1,000.00 | 1,231.00 | 0.33 |
Based on Hypothetical 5% Yearly Return | |||
Small-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.55 | 0.25 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Plus Shares | 1,000.00 | 1,024.65 | 0.15 |
Small-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Small-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Basic Materials | 4.1% |
Consumer Discretionary | 15.9 |
Consumer Staples | 3.2 |
Energy | 4.3 |
Financials | 13.7 |
Health Care | 14.2 |
Industrials | 18.5 |
Other | 0.0 |
Real Estate | 8.8 |
Technology | 13.1 |
Telecommunications | 1.4 |
Utilities | 2.8 |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Common Stocks | ||||||
Basic Materials | ||||||
Steel Dynamics Inc. | 4,994,495 | 297,672 | 0.22% | |||
† | Basic Materials—Other*,1 | 5,297,469 | 3.85% | |||
5,595,141 | 4.07% | |||||
Consumer Discretionary | ||||||
Pool Corp. | 948,446 | 435,014 | 0.32% | |||
Tapestry Inc.* | 6,941,632 | 301,822 | 0.22% | |||
Williams-Sonoma Inc. | 1,874,202 | 299,216 | 0.22% | |||
RH* | 418,202 | 283,959 | 0.21% | |||
Chegg Inc.* | 3,356,058 | 278,922 | 0.20% | |||
Floor & Decor Holdings Inc. Class A* | 2,611,902 | 276,078 | 0.20% | |||
† | Consumer Discretionary—Other*,1 | 19,888,326 | 14.45% | |||
21,763,337 | 15.82% | |||||
Consumer Staples | ||||||
Darling Ingredients Inc.* | 4,062,191 | 274,198 | 0.20% | |||
† | Consumer Staples —Other*,1 | 4,035,802 | 2.93% | |||
4,310,000 | 3.13% | |||||
Energy | ||||||
Diamondback Energy Inc. | 4,505,533 | 423,024 | 0.31% | |||
Enphase Energy Inc.* | 1,520,262 | 279,166 | 0.20% | |||
† | Energy—Other*,1 | 5,154,396 | 3.75% | |||
5,856,586 | 4.26% | |||||
Financials | ||||||
Signature Bank | 1,433,846 | 352,224 | 0.26% | |||
Apollo Global Management Inc. | 5,205,052 | 323,754 | 0.24% | |||
Brown & Brown Inc. | 5,962,465 | 316,845 | 0.23% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Invesco Ltd. | 10,339,327 | 276,370 | 0.20% | |||
† | Financials—Other*,1,2 | 17,467,514 | 12.69% | |||
18,736,707 | 13.62% | |||||
Health Care | ||||||
Charles River Laboratories International Inc.* | 1,251,206 | 462,846 | 0.34% | |||
Avantor Inc.* | 12,317,881 | 437,408 | 0.32% | |||
Bio-Techne Corp. | 968,271 | 435,974 | 0.32% | |||
PerkinElmer Inc. | 2,790,564 | 430,891 | 0.31% | |||
Novavax Inc.*,1 | 1,844,526 | 391,611 | 0.28% | |||
Molina Healthcare Inc.* | 1,453,789 | 367,896 | 0.27% | |||
Masimo Corp.* | 1,232,476 | 298,814 | 0.22% | |||
Guardant Health Inc.* | 2,391,570 | 297,009 | 0.22% | |||
† | Health Care—Other*,1,2 | 16,342,718 | 11.87% | |||
19,465,167 | 14.15% | |||||
Industrials | ||||||
IDEX Corp. | 1,890,302 | 415,961 | 0.30% | |||
Bill.com Holdings Inc.* | 1,967,876 | 360,476 | 0.26% | |||
Fair Isaac Corp.* | 680,579 | 342,113 | 0.25% | |||
Howmet Aerospace Inc.* | 9,731,016 | 335,428 | 0.24% | |||
Graco Inc. | 4,217,330 | 319,252 | 0.23% | |||
Quanta Services Inc. | 3,468,793 | 314,169 | 0.23% | |||
Allegion plc | 2,239,598 | 311,976 | 0.23% | |||
Lennox International Inc.1 | 846,207 | 296,849 | 0.22% | |||
Toro Co. | 2,678,969 | 294,365 | 0.21% | |||
Trex Co. Inc.* | 2,871,745 | 293,521 | 0.21% | |||
Booz Allen Hamilton Holding Corp. Class A | 3,370,743 | 287,120 | 0.21% | |||
RPM International Inc. | 3,224,202 | 285,922 | 0.21% | |||
Nordson Corp. | 1,301,333 | 285,656 | 0.21% | |||
Axon Enterprise Inc.* | 1,610,008 | 284,649 | 0.21% | |||
Pentair plc | 4,136,647 | 279,182 | 0.20% | |||
† | Industrials—Other*,1,3 | 20,556,656 | 14.95% | |||
25,263,295 | 18.37% | |||||
†Other*,2,4 | 59 | 0.00% | ||||
Real Estate | ||||||
VICI Properties Inc. | 13,370,659 | 414,758 | 0.30% | |||
Equity LifeStyle Properties Inc. | 4,085,356 | 303,583 | 0.22% | |||
Medical Properties Trust Inc. | 14,645,826 | 294,381 | 0.21% | |||
† | Real Estate—Other*,1,2 | 10,989,136 | 8.00% | |||
12,001,858 | 8.73% | |||||
Technology | ||||||
Entegris Inc. | 3,372,994 | 414,777 | 0.30% | |||
Nuance Communications Inc.* | 7,123,106 | 387,782 | 0.28% | |||
PTC Inc.* | 2,618,508 | 369,890 | 0.27% | |||
Ceridian HCM Holding Inc.* | 3,344,195 | 320,775 | 0.23% | |||
Avalara Inc.* | 1,942,807 | 314,346 | 0.23% | |||
Five9 Inc.* | 1,669,222 | 306,119 | 0.22% | |||
Dynatrace Inc.* | 4,934,533 | 288,275 | 0.21% | |||
Cree Inc.* | 2,874,760 | 281,525 | 0.20% | |||
† | Technology—Other*,1,2 | 15,163,493 | 11.03% | |||
17,846,982 | 12.97% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
†Telecommunications*,1 | 1,928,303 | 1.40% | ||||
Utilities | ||||||
Atmos Energy Corp. | 3,254,453 | 312,785 | 0.23% | |||
Essential Utilities Inc. | 6,117,284 | 279,560 | 0.20% | |||
† | Utilities—Other* | 3,286,888 | 2.39% | |||
3,879,233 | 2.82% | |||||
Total Common Stocks (Cost $88,662,578) | 136,646,668 | 99.34% | ||||
Coupon | ||||||
Temporary Cash Investments | ||||||
Money Market Fund | ||||||
Vanguard Market Liquidity Fund5,6 (Cost $3,099,342) | 0.056% | 30,997,404 | 3,099,741 | 2.25% | ||
Total Investments (Cost $91,761,920) | 139,746,409 | 101.59% | ||||
Other Assets and Liabilities—Net | (2,193,233) | (1.59%) | ||||
Net Assets | 137,553,176 | 100.00% |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
† | Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets. |
* | Includes non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,236,521,000. |
2 | Certain securities are valued using significant unobservable inputs. |
3 | Certain securities are 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 June 30, 2021, the aggregate value of these securities was $73,256,000, representing 0.1% 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 $2,342,714,000 was received for securities on loan, of which $2,323,711,000 is held in Vanguard Market Liquidity Fund and $19,003,000 is held in cash. |
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 2021 | 3,204 | 369,710 | (3,074) |
E-mini S&P Mid-Cap 400 Index | September 2021 | 1,829 | 492,440 | (9,071) |
(12,145) |
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) |
Alcoa Corp. | 8/31/21 | BOANA | 13,488 | (0.586) | — | (969) |
Avalara Inc. | 8/31/21 | BOANA | 11,895 | (0.086) | 2,665 | — |
Bandwidth Inc. Class A | 8/31/21 | BOANA | 16,561 | (0.536) | 2,742 | — |
National Fuel Gas Co. | 8/31/21 | BOANA | 4,670 | (0.486) | 72 | — |
New York Community Bancorp Inc. | 8/31/21 | BOANA | 2,394 | (0.436) | — | (191) |
Ollie's Bargain Outlet Holdings Inc. | 1/31/22 | GSI | 26,403 | (0.082) | — | (1,165) |
Penn National Gaming Inc. | 8/31/21 | BOANA | 32,788 | (0.536) | — | (2,206) |
Popular Inc. | 8/31/21 | BOANA | 11,425 | (0.486) | — | (866) |
United Therapeutics Corp. | 8/31/21 | BOANA | 22,308 | (0.086) | — | (779) |
5,479 | (6,176) |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $88,662,578) | 136,646,668 |
Affiliated Issuers (Cost $3,099,342) | 3,099,741 |
Total Investments in Securities | 139,746,409 |
Investment in Vanguard | 4,698 |
Cash | 19,003 |
Cash Collateral Pledged—Futures Contracts | 45,519 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 1,200 |
Receivables for Investment Securities Sold | 571,301 |
Receivables for Accrued Income | 105,731 |
Receivables for Capital Shares Issued | 35,238 |
Variation Margin Receivable—Futures Contracts | 988 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 5,479 |
Total Assets | 140,535,566 |
Liabilities | |
Due to Custodian | 304,917 |
Payables for Investment Securities Purchased | 202,826 |
Collateral for Securities on Loan | 2,342,714 |
Payables for Capital Shares Redeemed | 123,091 |
Payables to Vanguard | 2,666 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 6,176 |
Total Liabilities | 2,982,390 |
Net Assets | 137,553,176 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 90,234,123 |
Total Distributable Earnings (Loss) | 47,319,053 |
Net Assets | 137,553,176 |
Investor Shares—Net Assets | |
Applicable to 6,976,458 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 752,875 |
Net Asset Value Per Share—Investor Shares | $107.92 |
ETF Shares—Net Assets | |
Applicable to 209,093,163 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 47,099,455 |
Net Asset Value Per Share—ETF Shares | $225.26 |
Admiral Shares—Net Assets | |
Applicable to 515,744,189 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 55,668,104 |
Net Asset Value Per Share—Admiral Shares | $107.94 |
Institutional Shares—Net Assets | |
Applicable to 207,660,777 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 22,413,608 |
Net Asset Value Per Share—Institutional Shares | $107.93 |
Institutional Plus Shares—Net Assets | |
Applicable to 37,296,198 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,619,134 |
Net Asset Value Per Share—Institutional Plus Shares | $311.54 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 632,102 |
Interest1 | 323 |
Securities Lending—Net | 23,011 |
Total Income | 655,436 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,895 |
Management and Administrative—Investor Shares | 607 |
Management and Administrative—ETF Shares | 8,429 |
Management and Administrative—Admiral Shares | 11,184 |
Management and Administrative—Institutional Shares | 3,508 |
Management and Administrative—Institutional Plus Shares | 1,384 |
Marketing and Distribution—Investor Shares | 18 |
Marketing and Distribution—ETF Shares | 778 |
Marketing and Distribution—Admiral Shares | 751 |
Marketing and Distribution—Institutional Shares | 248 |
Marketing and Distribution—Institutional Plus Shares | 70 |
Custodian Fees | 435 |
Shareholders’ Reports—Investor Shares | 2 |
Shareholders’ Reports—ETF Shares | 890 |
Shareholders’ Reports—Admiral Shares | 251 |
Shareholders’ Reports—Institutional Shares | 89 |
Shareholders’ Reports—Institutional Plus Shares | 29 |
Trustees’ Fees and Expenses | 18 |
Total Expenses | 30,586 |
Net Investment Income | 624,850 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 6,382,455 |
Futures Contracts | 132,320 |
Swap Contracts | (4,061) |
Realized Net Gain (Loss) | 6,510,714 |
Statement of Operations (continued) | |
Six Months Ended June 30, 2021 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 11,793,333 |
Futures Contracts | (25,843) |
Swap Contracts | (8,104) |
Change in Unrealized Appreciation (Depreciation) | 11,759,386 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 18,894,950 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $323,000, $12,000, and ($11,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $4,495,802,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 624,850 | 1,296,033 | |
Realized Net Gain (Loss) | 6,510,714 | 3,870,929 | |
Change in Unrealized Appreciation (Depreciation) | 11,759,386 | 13,074,363 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 18,894,950 | 18,241,325 | |
Distributions | |||
Investor Shares | (3,438) | (8,214) | |
ETF Shares | (229,993) | (413,915) | |
Admiral Shares | (275,127) | (548,152) | |
Institutional Shares | (111,439) | (223,749) | |
Institutional Plus Shares | (59,915) | (122,453) | |
Total Distributions | (679,912) | (1,316,483) | |
Capital Share Transactions | |||
Investor Shares | (65,706) | (147,445) | |
ETF Shares | 3,631,351 | 4,228,769 | |
Admiral Shares | 853,560 | (1,839,081) | |
Institutional Shares | 438,987 | (1,146,922) | |
Institutional Plus Shares | (163,044) | (141,850) | |
Net Increase (Decrease) from Capital Share Transactions | 4,695,148 | 953,471 | |
Total Increase (Decrease) | 22,910,186 | 17,878,313 | |
Net Assets | |||
Beginning of Period | 114,642,990 | 96,764,677 | |
End of Period | 137,553,176 | 114,642,990 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $93.20 | $79.35 | $63.21 | $70.76 | $61.75 | $53.03 |
Investment Operations | ||||||
Net Investment Income | .4391 | .9281 | .8321 | .9671 | .8761 | .843 |
Net Realized and Unrealized Gain (Loss) on Investments | 14.754 | 13.897 | 16.319 | (7.552) | 9.011 | 8.734 |
Total from Investment Operations | 15.193 | 14.825 | 17.151 | (6.585) | 9.887 | 9.577 |
Distributions | ||||||
Dividends from Net Investment Income | (.473) | (.975) | (1.011) | (.965) | (.877) | (.857) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.473) | (.975) | (1.011) | (.965) | (.877) | (.857) |
Net Asset Value, End of Period | $107.92 | $93.20 | $79.35 | $63.21 | $70.76 | $61.75 |
Total Return2 | 16.33% | 18.96% | 27.22% | -9.43% | 16.10% | 18.17% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $753 | $709 | $754 | $3,332 | $4,345 | $4,401 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.18% |
Ratio of Net Investment Income to Average Net Assets | 0.88% | 1.26% | 1.14% | 1.34% | 1.36% | 1.55% |
Portfolio Turnover Rate3 | 9% | 22% | 16% | 15% | 15% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $194.54 | $165.64 | $131.94 | $147.71 | $128.90 | $110.71 |
Investment Operations | ||||||
Net Investment Income | 1.0261 | 2.2621 | 2.2981 | 2.2391 | 2.0371 | 1.899 |
Net Realized and Unrealized Gain (Loss) on Investments | 30.813 | 28.863 | 33.707 | (15.808) | 18.768 | 18.221 |
Total from Investment Operations | 31.839 | 31.125 | 36.005 | (13.569) | 20.805 | 20.120 |
Distributions | ||||||
Dividends from Net Investment Income | (1.119) | (2.225) | (2.305) | (2.201) | (1.995) | (1.930) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.119) | (2.225) | (2.305) | (2.201) | (1.995) | (1.930) |
Net Asset Value, End of Period | $225.26 | $194.54 | $165.64 | $131.94 | $147.71 | $128.90 |
Total Return | 16.39% | 19.08% | 27.37% | -9.30% | 16.24% | 18.31% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $47,099 | $37,492 | $27,442 | $20,914 | $21,605 | $16,153 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.98% | 1.47% | 1.49% | 1.46% | 1.48% | 1.67% |
Portfolio Turnover Rate2 | 9% | 22% | 16% | 15% | 15% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $93.22 | $79.37 | $63.23 | $70.78 | $61.77 | $53.05 |
Investment Operations | ||||||
Net Investment Income | .4961 | 1.0291 | 1.1081 | 1.0671 | .9701 | .910 |
Net Realized and Unrealized Gain (Loss) on Investments | 14.760 | 13.887 | 16.136 | (7.563) | 8.997 | 8.733 |
Total from Investment Operations | 15.256 | 14.916 | 17.244 | (6.496) | 9.967 | 9.643 |
Distributions | ||||||
Dividends from Net Investment Income | (.536) | (1.066) | (1.104) | (1.054) | (.957) | (.923) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.536) | (1.066) | (1.104) | (1.054) | (.957) | (.923) |
Net Asset Value, End of Period | $107.94 | $93.22 | $79.37 | $63.23 | $70.78 | $61.77 |
Total Return2 | 16.39% | 19.11% | 27.37% | -9.31% | 16.24% | 18.30% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $55,668 | $47,313 | $42,386 | $31,382 | $33,801 | $27,778 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.99% | 1.40% | 1.50% | 1.46% | 1.48% | 1.67% |
Portfolio Turnover Rate3 | 9% | 22% | 16% | 15% | 15% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $93.22 | $79.37 | $63.22 | $70.78 | $61.77 | $53.05 |
Investment Operations | ||||||
Net Investment Income | .5011 | 1.0341 | 1.1011 | 1.0761 | .9751 | .915 |
Net Realized and Unrealized Gain (Loss) on Investments | 14.750 | 13.889 | 16.161 | (7.575) | 8.998 | 8.734 |
Total from Investment Operations | 15.251 | 14.923 | 17.262 | (6.499) | 9.973 | 9.649 |
Distributions | ||||||
Dividends from Net Investment Income | (.541) | (1.073) | (1.112) | (1.061) | (.963) | (.929) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.541) | (1.073) | (1.112) | (1.061) | (.963) | (.929) |
Net Asset Value, End of Period | $107.93 | $93.22 | $79.37 | $63.22 | $70.78 | $61.77 |
Total Return | 16.39% | 19.12% | 27.40% | -9.32% | 16.25% | 18.32% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $22,414 | $18,957 | $17,337 | $14,454 | $15,352 | $13,030 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.00% | 1.41% | 1.49% | 1.47% | 1.49% | 1.68% |
Portfolio Turnover Rate2 | 9% | 22% | 16% | 15% | 15% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $269.07 | $229.09 | $182.49 | $204.30 | $178.28 | $153.11 |
Investment Operations | ||||||
Net Investment Income | 1.4651 | 2.9881 | 3.1861 | 3.1021 | 2.8351 | 2.660 |
Net Realized and Unrealized Gain (Loss) on Investments | 42.581 | 40.111 | 46.645 | (21.825) | 25.980 | 25.213 |
Total from Investment Operations | 44.046 | 43.099 | 49.831 | (18.723) | 28.815 | 27.873 |
Distributions | ||||||
Dividends from Net Investment Income | (1.576) | (3.119) | (3.231) | (3.087) | (2.795) | (2.703) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.576) | (3.119) | (3.231) | (3.087) | (2.795) | (2.703) |
Net Asset Value, End of Period | $311.54 | $269.07 | $229.09 | $182.49 | $204.30 | $178.28 |
Total Return | 16.40% | 19.13% | 27.40% | -9.30% | 16.27% | 18.33% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,619 | $10,172 | $8,846 | $7,866 | $9,531 | $8,080 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.01% | 1.41% | 1.49% | 1.48% | 1.50% | 1.69% |
Portfolio Turnover Rate2 | 9% | 22% | 16% | 15% | 15% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 136,644,793 | — | 1,875 | 136,646,668 |
Temporary Cash Investments | 3,099,741 | — | — | 3,099,741 |
Total | 139,744,534 | — | 1,875 | 139,746,409 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 5,479 | — | 5,479 |
Liabilities | ||||
Futures Contracts1 | 12,145 | — | — | 12,145 |
Swap Contracts | — | 6,176 | — | 6,176 |
Total | 12,145 | 6,176 | — | 18,321 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 92,055,550 |
Gross Unrealized Appreciation | 52,659,228 |
Gross Unrealized Depreciation | (4,981,211) |
Net Unrealized Appreciation (Depreciation) | 47,678,017 |
E. | During the six months ended June 30, 2021, the fund purchased $22,519,646,000 of investment securities and sold $17,791,269,000 of investment securities, other than temporary cash investments. Purchases and sales include $8,749,645,000 and $6,121,147,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 57,522 | 561 | 52,197 | 745 | |
Issued in Lieu of Cash Distributions | 3,438 | 33 | 8,214 | 109 | |
Redeemed | (126,666) | (1,221) | (207,856) | (2,748) | |
Net Increase (Decrease)—Investor Shares | (65,706) | (627) | (147,445) | (1,894) | |
ETF Shares | |||||
Issued | 9,393,196 | 42,746 | 16,291,928 | 103,198 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (5,761,845) | (26,375) | (12,063,159) | (76,150) | |
Net Increase (Decrease)—ETF Shares | 3,631,351 | 16,371 | 4,228,769 | 27,048 | |
Admiral Shares | |||||
Issued | 5,333,361 | 51,813 | 7,197,182 | 101,668 | |
Issued in Lieu of Cash Distributions | 245,642 | 2,388 | 488,424 | 6,445 | |
Redeemed | (4,725,443) | (45,975) | (9,524,687) | (134,614) | |
Net Increase (Decrease)—Admiral Shares | 853,560 | 8,226 | (1,839,081) | (26,501) | |
Institutional Shares | |||||
Issued | 2,949,087 | 28,561 | 3,037,642 | 42,453 | |
Issued in Lieu of Cash Distributions | 105,507 | 1,026 | 210,983 | 2,787 | |
Redeemed | (2,615,607) | (25,286) | (4,395,547) | (60,308) | |
Net Increase (Decrease)—Institutional Shares | 438,987 | 4,301 | (1,146,922) | (15,068) | |
Institutional Plus Shares | |||||
Issued | 1,313,683 | 4,419 | 1,822,548 | 8,480 | |
Issued in Lieu of Cash Distributions | 59,915 | 202 | 122,453 | 562 | |
Redeemed | (1,536,642) | (5,131) | (2,086,851) | (9,851) | |
Net Increase (Decrease)—Institutional Plus Shares | (163,044) | (510) | (141,850) | (809) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Basic Materials | 1.7% |
Consumer Discretionary | 15.4 |
Consumer Staples | 2.9 |
Energy | 2.9 |
Financials | 4.0 |
Health Care | 23.8 |
Industrials | 16.7 |
Other | 0.0 |
Real Estate | 7.8 |
Technology | 21.7 |
Telecommunications | 1.7 |
Utilities | 1.4 |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Common Stocks | ||||||
†Basic Materials*,1 | 656,566 | 1.74% | ||||
Consumer Discretionary | ||||||
Pool Corp. | 599,882 | 275,142 | 0.73% | |||
RH* | 264,607 | 179,668 | 0.47% | |||
Chegg Inc.* | 2,124,412 | 176,560 | 0.47% | |||
Floor & Decor Holdings Inc. Class A* | 1,653,039 | 174,726 | 0.46% | |||
Zynga Inc. Class A* | 16,290,143 | 173,164 | 0.46% | |||
Five Below Inc.* | 882,092 | 170,482 | 0.45% | |||
Liberty Media Corp.-Liberty Formula One Class C* | 3,044,636 | 146,782 | 0.39% | |||
Liberty Media Corp.-Liberty Formula One Class A* | 386,186 | 16,463 | 0.04% | |||
† | Consumer Discretionary—Other*,1 | 4,505,849 | 11.91% | |||
5,818,836 | 15.38% | |||||
Consumer Staples | ||||||
Boston Beer Co. Inc. Class A* | 143,357 | 146,339 | 0.39% | |||
† | Consumer Staples —Other*,1 | 947,556 | 2.50% | |||
1,093,895 | 2.89% | |||||
Energy | ||||||
Enphase Energy Inc.* | 962,184 | 176,686 | 0.47% | |||
Texas Pacific Land Corp. | 97,753 | 156,379 | 0.41% | |||
† | Energy—Other*,1 | 747,846 | 1.98% | |||
1,080,911 | 2.86% | |||||
†Financials*,1 | 1,495,905 | 3.95% | ||||
Health Care | ||||||
Charles River Laboratories International Inc.* | 791,143 | 292,660 | 0.77% | |||
Avantor Inc.* | 7,792,662 | 276,717 | 0.73% | |||
Bio-Techne Corp. | 612,606 | 275,832 | 0.73% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
PerkinElmer Inc. | 1,765,488 | 272,609 | 0.72% | |||
Masimo Corp.* | 779,330 | 188,949 | 0.50% | |||
Guardant Health Inc.* | 1,513,816 | 188,001 | 0.50% | |||
Intellia Therapeutics Inc.* | 1,025,109 | 165,975 | 0.44% | |||
Repligen Corp.* | 821,936 | 164,075 | 0.43% | |||
Penumbra Inc.* | 546,133 | 149,673 | 0.40% | |||
Syneos Health Inc.* | 1,635,018 | 146,318 | 0.39% | |||
† | Health Care—Other*,1,2 | 6,828,054 | 18.05% | |||
8,948,863 | 23.66% | |||||
Industrials | ||||||
Fair Isaac Corp.* | 430,271 | 216,289 | 0.57% | |||
Bill.com Holdings Inc.* | 1,145,450 | 209,824 | 0.56% | |||
Graco Inc. | 2,666,950 | 201,888 | 0.53% | |||
Lennox International Inc. | 535,192 | 187,745 | 0.50% | |||
Toro Co. | 1,694,124 | 186,150 | 0.49% | |||
Trex Co. Inc.* | 1,817,195 | 185,736 | 0.49% | |||
Nordson Corp. | 822,942 | 180,644 | 0.48% | |||
Axon Enterprise Inc.* | 1,019,291 | 180,211 | 0.48% | |||
MKS Instruments Inc. | 872,332 | 155,231 | 0.41% | |||
A O Smith Corp. | 2,118,181 | 152,636 | 0.40% | |||
Watsco Inc. | 518,243 | 148,549 | 0.39% | |||
† | Industrials—Other*,1 | 4,272,429 | 11.29% | |||
6,277,332 | 16.59% | |||||
†Other*,2,3 | 30 | 0.00% | ||||
Real Estate | ||||||
Equity LifeStyle Properties Inc. | 2,582,815 | 191,929 | 0.51% | |||
American Homes 4 Rent Class A | 4,343,805 | 168,757 | 0.45% | |||
Americold Realty Trust | 3,976,199 | 150,499 | 0.40% | |||
CubeSmart | 3,173,041 | 146,975 | 0.39% | |||
† | Real Estate—Other* | 2,294,667 | 6.06% | |||
2,952,827 | 7.81% | |||||
Technology | ||||||
Entegris Inc. | 2,134,071 | 262,427 | 0.69% | |||
PTC Inc.* | 1,655,485 | 233,854 | 0.62% | |||
Avalara Inc.* | 1,286,677 | 208,184 | 0.55% | |||
Ceridian HCM Holding Inc.* | 2,115,543 | 202,923 | 0.54% | |||
Five9 Inc.* | 1,056,065 | 193,672 | 0.51% | |||
Dynatrace Inc.* | 3,121,338 | 182,349 | 0.48% | |||
Cree Inc.* | 1,819,566 | 178,190 | 0.47% | |||
MongoDB Inc. Class A* | 464,794 | 168,032 | 0.44% | |||
Proofpoint Inc.* | 902,792 | 156,869 | 0.41% | |||
Guidewire Software Inc.* | 1,318,485 | 148,620 | 0.39% | |||
Universal Display Corp. | 668,241 | 148,570 | 0.39% | |||
Aspen Technology Inc.* | 1,070,916 | 147,294 | 0.39% | |||
Manhattan Associates Inc.* | 1,001,712 | 145,088 | 0.38% | |||
† | Technology—Other*,1,2 | 5,812,395 | 15.38% | |||
8,188,467 | 21.64% | |||||
Telecommunications | ||||||
Cable One Inc. | 85,544 | 163,629 | 0.43% | |||
† | Telecommunications—Other*,1 | 493,545 | 1.31% | |||
657,174 | 1.74% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Utilities | ||||||
Sunrun Inc.* | 3,053,667 | 170,334 | 0.45% | |||
† | Utilities—Other* | 340,715 | 0.90% | |||
511,049 | 1.35% | |||||
Total Common Stocks (Cost $25,020,640) | 37,681,855 | 99.61% | ||||
Coupon | ||||||
Temporary Cash Investments | ||||||
Money Market Fund | ||||||
Vanguard Market Liquidity Fund4,5 (Cost $902,938) | 0.056% | 9,030,335 | 903,033 | 2.39% | ||
Total Investments (Cost $25,923,578) | 38,584,888 | 102.00% | ||||
Other Assets and Liabilities—Net | (754,819) | (2.00%) | ||||
Net Assets | 37,830,069 | 100.00% |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
† | Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets. |
* | Includes non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $733,508,000. |
2 | Certain securities are valued using significant unobservable inputs. |
3 | “Other” represents securities that are not classified by the fund’s benchmark index. |
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. |
5 | Collateral of $766,093,000 was received for securities on loan, of which $760,150,000 is held in Vanguard Market Liquidity Fund and $5,943,000 is held in cash. |
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 2021 | 399 | 46,041 | 388 |
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) |
Bandwidth Inc. Class A | 8/31/21 | BOANA | 5,915 | (0.536) | 979 | — |
Beyond Meat Inc. | 8/31/21 | BOANA | 34,901 | (0.086) | 2,896 | — |
Bill.com Holdings Inc. | 8/31/21 | BOANA | 14,892 | (0.086) | 3,424 | — |
Invitae Corp. | 8/31/21 | BOANA | 10,361 | (0.086) | 1,782 | — |
Novocure Ltd. | 8/31/21 | BOANA | 36,720 | (0.086) | 3,204 | — |
12,285 | — |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $25,020,640) | 37,681,855 |
Affiliated Issuers (Cost $902,938) | 903,033 |
Total Investments in Securities | 38,584,888 |
Investment in Vanguard | 1,256 |
Cash | 5,943 |
Cash Collateral Pledged—Futures Contracts | 2,600 |
Receivables for Investment Securities Sold | 187,198 |
Receivables for Accrued Income | 17,927 |
Receivables for Capital Shares Issued | 13,854 |
Variation Margin Receivable—Futures Contracts | 64 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 12,285 |
Total Assets | 38,826,015 |
Liabilities | |
Due to Custodian | 95,170 |
Payables for Investment Securities Purchased | 107,876 |
Collateral for Securities on Loan | 766,093 |
Payables for Capital Shares Redeemed | 25,738 |
Payables to Vanguard | 1,069 |
Total Liabilities | 995,946 |
Net Assets | 37,830,069 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 25,007,909 |
Total Distributable Earnings (Loss) | 12,822,160 |
Net Assets | 37,830,069 |
Investor Shares—Net Assets | |
Applicable to 2,207,276 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 179,830 |
Net Asset Value Per Share—Investor Shares | $81.47 |
ETF Shares—Net Assets | |
Applicable to 55,535,866 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,087,098 |
Net Asset Value Per Share—ETF Shares | $289.67 |
Admiral Shares—Net Assets | |
Applicable to 172,595,616 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 17,578,335 |
Net Asset Value Per Share—Admiral Shares | $101.85 |
Institutional Shares—Net Assets | |
Applicable to 48,855,094 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,984,806 |
Net Asset Value Per Share—Institutional Shares | $81.56 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 62,937 |
Interest1 | 37 |
Securities Lending—Net | 6,508 |
Total Income | 69,482 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,276 |
Management and Administrative—Investor Shares | 175 |
Management and Administrative—ETF Shares | 4,116 |
Management and Administrative—Admiral Shares | 4,963 |
Management and Administrative—Institutional Shares | 921 |
Marketing and Distribution—Investor Shares | 6 |
Marketing and Distribution—ETF Shares | 281 |
Marketing and Distribution—Admiral Shares | 247 |
Marketing and Distribution—Institutional Shares | 48 |
Custodian Fees | 118 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 391 |
Shareholders’ Reports—Admiral Shares | 82 |
Shareholders’ Reports—Institutional Shares | 33 |
Trustees’ Fees and Expenses | 5 |
Total Expenses | 12,663 |
Net Investment Income | 56,819 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 2,603,062 |
Futures Contracts | 3,247 |
Swap Contracts | (2,664) |
Realized Net Gain (Loss) | 2,603,645 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 189,084 |
Futures Contracts | (188) |
Swap Contracts | 12,801 |
Change in Unrealized Appreciation (Depreciation) | 201,697 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,862,161 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $37,000, less than $1,000, and $0, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $1,878,936,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 56,819 | 144,245 | |
Realized Net Gain (Loss) | 2,603,645 | 2,982,774 | |
Change in Unrealized Appreciation (Depreciation) | 201,697 | 5,875,892 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,862,161 | 9,002,911 | |
Distributions | |||
Investor Shares | (212) | (736) | |
ETF Shares | (27,380) | (61,658) | |
Admiral Shares | (30,171) | (72,055) | |
Institutional Shares | (6,987) | (17,057) | |
Total Distributions | (64,750) | (151,506) | |
Capital Share Transactions | |||
Investor Shares | (44,728) | (12,462) | |
ETF Shares | 507,692 | 850,058 | |
Admiral Shares | 94,790 | (644,807) | |
Institutional Shares | 4,393 | (513,761) | |
Net Increase (Decrease) from Capital Share Transactions | 562,147 | (320,972) | |
Total Increase (Decrease) | 3,359,558 | 8,530,433 | |
Net Assets | |||
Beginning of Period | 34,470,511 | 25,940,078 | |
End of Period | 37,830,069 | 34,470,511 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $75.20 | $55.89 | $42.36 | $45.24 | $37.43 | $34.18 |
Investment Operations | ||||||
Net Investment Income | .0791 | .2411 | .1781 | .2741 | .3151 | .355 |
Net Realized and Unrealized Gain (Loss) on Investments | 6.280 | 19.331 | 13.617 | (2.879) | 7.814 | 3.257 |
Total from Investment Operations | 6.359 | 19.572 | 13.795 | (2.605) | 8.129 | 3.612 |
Distributions | ||||||
Dividends from Net Investment Income | (.089) | (.262) | (.265) | (.275) | (.319) | (.362) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.089) | (.262) | (.265) | (.275) | (.319) | (.362) |
Net Asset Value, End of Period | $81.47 | $75.20 | $55.89 | $42.36 | $45.24 | $37.43 |
Total Return2 | 8.46% | 35.12% | 32.60% | -5.80% | 21.78% | 10.61% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $180 | $209 | $171 | $1,461 | $1,816 | $1,850 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 0.21% | 0.42% | 0.35% | 0.58% | 0.78% | 1.03% |
Portfolio Turnover Rate3 | 16% | 24% | 18% | 22% | 19% | 27% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $267.36 | $198.68 | $150.57 | $160.81 | $133.07 | $121.53 |
Investment Operations | ||||||
Net Investment Income | .4341 | 1.1291 | 1.1751 | 1.2141 | 1.3201 | 1.416 |
Net Realized and Unrealized Gain (Loss) on Investments | 22.371 | 68.729 | 48.077 | (10.263) | 27.731 | 11.563 |
Total from Investment Operations | 22.805 | 69.858 | 49.252 | (9.049) | 29.051 | 12.979 |
Distributions | ||||||
Dividends from Net Investment Income | (.495) | (1.178) | (1.142) | (1.191) | (1.311) | (1.439) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.495) | (1.178) | (1.142) | (1.191) | (1.311) | (1.439) |
Net Asset Value, End of Period | $289.67 | $267.36 | $198.68 | $150.57 | $160.81 | $133.07 |
Total Return | 8.54% | 35.29% | 32.75% | -5.68% | 21.90% | 10.74% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $16,087 | $14,436 | $9,833 | $7,286 | $6,981 | $5,328 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.32% | 0.55% | 0.64% | 0.70% | 0.90% | 1.15% |
Portfolio Turnover Rate2 | 16% | 24% | 18% | 22% | 19% | 27% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $94.02 | $69.87 | $52.95 | $56.55 | $46.79 | $42.73 |
Investment Operations | ||||||
Net Investment Income | .1531 | .3921 | .4191 | .4231 | .4651 | .496 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.851 | 24.172 | 16.902 | (3.605) | 9.755 | 4.069 |
Total from Investment Operations | 8.004 | 24.564 | 17.321 | (3.182) | 10.220 | 4.565 |
Distributions | ||||||
Dividends from Net Investment Income | (.174) | (.414) | (.401) | (.418) | (.460) | (.505) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.174) | (.414) | (.401) | (.418) | (.460) | (.505) |
Net Asset Value, End of Period | $101.85 | $94.02 | $69.87 | $52.95 | $56.55 | $46.79 |
Total Return2 | 8.52% | 35.30% | 32.76% | -5.68% | 21.92% | 10.73% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $17,578 | $16,149 | $12,717 | $8,560 | $8,729 | $6,648 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.32% | 0.54% | 0.65% | 0.70% | 0.90% | 1.15% |
Portfolio Turnover Rate3 | 16% | 24% | 18% | 22% | 19% | 27% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $75.29 | $55.95 | $42.40 | $45.29 | $37.47 | $34.22 |
Investment Operations | ||||||
Net Investment Income | .1261 | .3191 | .3271 | .3351 | .3751 | .401 |
Net Realized and Unrealized Gain (Loss) on Investments | 6.287 | 19.358 | 13.550 | (2.886) | 7.818 | 3.257 |
Total from Investment Operations | 6.413 | 19.677 | 13.877 | (2.551) | 8.193 | 3.658 |
Distributions | ||||||
Dividends from Net Investment Income | (.143) | (.337) | (.327) | (.339) | (.373) | (.408) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.143) | (.337) | (.327) | (.339) | (.373) | (.408) |
Net Asset Value, End of Period | $81.56 | $75.29 | $55.95 | $42.40 | $45.29 | $37.47 |
Total Return | 8.53% | 35.31% | 32.77% | -5.69% | 21.94% | 10.74% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $3,985 | $3,676 | $3,218 | $2,858 | $3,690 | $2,969 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.33% | 0.55% | 0.64% | 0.71% | 0.91% | 1.16% |
Portfolio Turnover Rate2 | 16% | 24% | 18% | 22% | 19% | 27% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 37,680,844 | — | 1,011 | 37,681,855 |
Temporary Cash Investments | 903,033 | — | — | 903,033 |
Total | 38,583,877 | — | 1,011 | 38,584,888 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 388 | — | — | 388 |
Swap Contracts | — | 12,285 | — | 12,285 |
Total | 388 | 12,285 | — | 12,673 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 25,961,786 |
Gross Unrealized Appreciation | 13,924,562 |
Gross Unrealized Depreciation | (1,288,787) |
Net Unrealized Appreciation (Depreciation) | 12,635,775 |
E. | During the six months ended June 30, 2021, the fund purchased $9,302,354,000 of investment securities and sold $8,805,322,000 of investment securities, other than temporary cash investments. Purchases and sales include $3,282,671,000 and $3,138,458,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 18,980 | 236 | 34,870 | 559 | |
Issued in Lieu of Cash Distributions | 212 | 3 | 736 | 12 | |
Redeemed | (63,920) | (811) | (48,068) | (856) | |
Net Increase (Decrease)—Investor Shares | (44,728) | (572) | (12,462) | (285) | |
ETF Shares | |||||
Issued | 3,709,864 | 13,041 | 6,364,154 | 29,978 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,202,172) | (11,500) | (5,514,096) | (25,475) | |
Net Increase (Decrease)—ETF Shares | 507,692 | 1,541 | 850,058 | 4,503 | |
Admiral Shares | |||||
Issued | 1,920,815 | 19,358 | 2,496,750 | 35,213 | |
Issued in Lieu of Cash Distributions | 27,089 | 277 | 65,017 | 860 | |
Redeemed | (1,853,114) | (18,813) | (3,206,574) | (46,325) | |
Net Increase (Decrease)—Admiral Shares | 94,790 | 822 | (644,807) | (10,252) | |
Institutional Shares | |||||
Issued | 440,924 | 5,565 | 658,957 | 11,461 | |
Issued in Lieu of Cash Distributions | 6,511 | 83 | 15,526 | 256 | |
Redeemed | (443,042) | (5,618) | (1,188,244) | (20,410) | |
Net Increase (Decrease)—Institutional Shares | 4,393 | 30 | (513,761) | (8,693) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Basic Materials | 5.9% |
Consumer Discretionary | 16.4 |
Consumer Staples | 3.3 |
Energy | 5.4 |
Financials | 21.3 |
Health Care | 6.7 |
Industrials | 19.9 |
Real Estate | 9.5 |
Technology | 6.4 |
Telecommunications | 1.2 |
Utilities | 4.0 |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Common Stocks | ||||||
Basic Materials | ||||||
Steel Dynamics Inc. | 3,110,808 | 185,404 | 0.39% | |||
Mosaic Co. | 5,301,033 | 169,156 | 0.35% | |||
Cleveland-Cliffs Inc.*,1 | 6,972,292 | 150,323 | 0.31% | |||
Reliance Steel & Aluminum Co. | 987,557 | 149,022 | 0.31% | |||
† | Basic Materials—Other*,1 | 2,186,171 | 4.55% | |||
2,840,076 | 5.91% | |||||
Consumer Discretionary | ||||||
Tapestry Inc.* | 4,324,343 | 188,022 | 0.39% | |||
Williams-Sonoma Inc. | 1,167,535 | 186,397 | 0.39% | |||
Norwegian Cruise Line Holdings Ltd.* | 5,738,289 | 168,763 | 0.35% | |||
Newell Brands Inc. | 5,933,409 | 162,991 | 0.34% | |||
Lithia Motors Inc. Class A | 461,561 | 158,611 | 0.33% | |||
Gap Inc. | 4,361,772 | 146,774 | 0.31% | |||
† | Consumer Discretionary—Other*,1 | 6,853,481 | 14.26% | |||
7,865,039 | 16.37% | |||||
Consumer Staples | ||||||
Bunge Ltd. | 2,083,835 | 162,852 | 0.34% | |||
† | Consumer Staples —Other*,1 | 1,407,310 | 2.93% | |||
1,570,162 | 3.27% | |||||
Energy | ||||||
Diamondback Energy Inc. | 2,807,266 | 263,574 | 0.55% | |||
Marathon Oil Corp. | 12,225,426 | 166,510 | 0.35% | |||
Targa Resources Corp. | 3,545,959 | 157,618 | 0.33% | |||
Devon Energy Corp. | 5,249,223 | 153,225 | 0.32% | |||
† | Energy—Other*,1 | 1,843,137 | 3.83% | |||
2,584,064 | 5.38% | |||||
Financials | ||||||
Signature Bank | 893,190 | 219,412 | 0.46% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Apollo Global Management Inc. | 3,242,269 | 201,669 | 0.42% | |||
Brown & Brown Inc. | 3,713,746 | 197,348 | 0.41% | |||
Invesco Ltd. | 6,439,298 | 172,122 | 0.36% | |||
LPL Financial Holdings Inc. | 1,177,642 | 158,958 | 0.33% | |||
East West Bancorp Inc. | 2,199,461 | 157,679 | 0.33% | |||
Comerica Inc. | 2,164,893 | 154,443 | 0.32% | |||
Ares Management Corp. Class A | 2,391,112 | 152,051 | 0.32% | |||
First Horizon Corp. | 8,565,801 | 148,017 | 0.31% | |||
Assurant Inc. | 939,390 | 146,714 | 0.31% | |||
† | Financials—Other*,1,2 | 8,489,540 | 17.66% | |||
10,197,953 | 21.23% | |||||
Health Care | ||||||
Molina Healthcare Inc.* | 905,392 | 229,118 | 0.48% | |||
Novavax Inc.* | 999,024 | 212,103 | 0.44% | |||
Jazz Pharmaceuticals plc* | 894,247 | 158,854 | 0.33% | |||
† | Health Care—Other*,1,2 | 2,628,086 | 5.47% | |||
3,228,161 | 6.72% | |||||
Industrials | ||||||
IDEX Corp. | 1,177,247 | 259,053 | 0.54% | |||
Howmet Aerospace Inc.* | 6,061,554 | 208,942 | 0.43% | |||
Quanta Services Inc. | 2,161,168 | 195,737 | 0.41% | |||
Allegion plc | 1,394,709 | 194,283 | 0.40% | |||
Booz Allen Hamilton Holding Corp. Class A | 2,100,021 | 178,880 | 0.37% | |||
RPM International Inc. | 2,007,995 | 178,069 | 0.37% | |||
Pentair plc | 2,577,056 | 173,926 | 0.36% | |||
Owens Corning | 1,619,675 | 158,566 | 0.33% | |||
Carlisle Cos. Inc. | 809,242 | 154,873 | 0.32% | |||
Robert Half International Inc. | 1,661,586 | 147,831 | 0.31% | |||
AECOM* | 2,270,040 | 143,739 | 0.30% | |||
AptarGroup Inc. | 1,018,822 | 143,491 | 0.30% | |||
Sensata Technologies Holding plc* | 2,452,643 | 142,180 | 0.30% | |||
† | Industrials—Other*,1,3 | 7,238,434 | 15.07% | |||
9,518,004 | 19.81% | |||||
Real Estate | ||||||
VICI Properties Inc. | 8,327,310 | 258,313 | 0.54% | |||
Medical Properties Trust Inc. | 9,120,146 | 183,315 | 0.38% | |||
Gaming & Leisure Properties Inc. | 3,428,951 | 158,863 | 0.33% | |||
Jones Lang LaSalle Inc.* | 795,768 | 155,541 | 0.32% | |||
† | Real Estate—Other*,1,2 | 3,813,436 | 7.94% | |||
4,569,468 | 9.51% | |||||
Technology | ||||||
Nuance Communications Inc.* | 4,437,205 | 241,561 | 0.50% | |||
DXC Technology Co.* | 3,948,718 | 153,763 | 0.32% | |||
† | Technology—Other*,1 | 2,676,692 | 5.57% | |||
3,072,016 | 6.39% | |||||
†Telecommunications*,1 | 554,099 | 1.15% | ||||
Utilities | ||||||
Atmos Energy Corp. | 2,026,326 | 194,750 | 0.41% | |||
Essential Utilities Inc. | 3,809,864 | 174,111 | 0.36% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
UGI Corp. | 3,235,261 | 149,825 | 0.31% | |||
† | Utilities—Other* | 1,394,741 | 2.90% | |||
1,913,427 | 3.98% | |||||
Total Common Stocks (Cost $33,246,557) | 47,912,469 | 99.72% | ||||
Coupon | ||||||
Temporary Cash Investments | ||||||
Money Market Fund | ||||||
Vanguard Market Liquidity Fund4,5 (Cost $462,038) | 0.056% | 4,620,875 | 462,087 | 0.96% | ||
Total Investments (Cost $33,708,595) | 48,374,556 | 100.68% | ||||
Other Assets and Liabilities—Net | (325,523) | (0.68%) | ||||
Net Assets | 48,049,033 | 100.00% |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
* | Includes non-income-producing security. |
† | Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $415,462,000. |
2 | Certain securities are valued using significant unobservable inputs. |
3 | Certain securities are 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 June 30, 2021, the aggregate value of these securities was $45,661,000, representing 0.1% of net assets. |
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. |
5 | Collateral of $439,320,000 was received for securities on loan, of which $425,425,000 is held in Vanguard Market Liquidity Fund and $13,895,000 is held in cash. |
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 2021 | 762 | 87,927 | 245 |
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) |
Alcoa Corp. | 8/31/21 | BOANA | 7,736 | (0.586) | — | (554) |
Alliance Data Systems Corp. | 8/31/21 | BOANA | 24,210 | (0.086) | — | (3,332) |
Bridgebio Pharma Inc. | 8/31/21 | BOANA | 17,760 | (0.086) | 528 | — |
National Fuel Gas Co. | 8/31/21 | BOANA | 3,373 | (0.486) | 52 | — |
New York Community Bancorp Inc. | 8/31/21 | BOANA | 1,197 | (0.436) | — | (96) |
Novavax Inc. | 1/31/22 | GSI | 28,061 | (0.082) | 3,784 | — |
Popular Inc. | 8/31/21 | BOANA | 8,569 | (0.486) | — | (650) |
4,364 | (4,632) |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $33,246,557) | 47,912,469 |
Affiliated Issuers (Cost $462,038) | 462,087 |
Total Investments in Securities | 48,374,556 |
Investment in Vanguard | 1,675 |
Cash | 13,895 |
Cash Collateral Pledged—Futures Contracts | 3,950 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 4,690 |
Receivables for Investment Securities Sold | 124,331 |
Receivables for Accrued Income | 47,723 |
Receivables for Capital Shares Issued | 21,758 |
Variation Margin Receivable—Futures Contracts | 92 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 4,364 |
Total Assets | 48,597,034 |
Liabilities | |
Due to Custodian | 43,410 |
Payables for Investment Securities Purchased | 34,631 |
Collateral for Securities on Loan | 439,320 |
Payables for Capital Shares Redeemed | 24,630 |
Payables to Vanguard | 1,378 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 4,632 |
Total Liabilities | 548,001 |
Net Assets | 48,049,033 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 35,326,365 |
Total Distributable Earnings (Loss) | 12,722,668 |
Net Assets | 48,049,033 |
Investor Shares—Net Assets | |
Applicable to 6,057,782 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 252,209 |
Net Asset Value Per Share—Investor Shares | $41.63 |
ETF Shares—Net Assets | |
Applicable to 141,428,073 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 24,556,783 |
Net Asset Value Per Share—ETF Shares | $173.63 |
Admiral Shares—Net Assets | |
Applicable to 249,431,190 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 18,609,767 |
Net Asset Value Per Share—Admiral Shares | $74.61 |
Institutional Shares—Net Assets | |
Applicable to 111,029,825 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,630,274 |
Net Asset Value Per Share—Institutional Shares | $41.70 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 320,975 |
Interest1 | 35 |
Securities Lending—Net | 7,612 |
Total Income | 328,622 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,327 |
Management and Administrative—Investor Shares | 232 |
Management and Administrative—ETF Shares | 5,851 |
Management and Administrative—Admiral Shares | 4,971 |
Management and Administrative—Institutional Shares | 1,023 |
Marketing and Distribution—Investor Shares | 7 |
Marketing and Distribution—ETF Shares | 348 |
Marketing and Distribution—Admiral Shares | 265 |
Marketing and Distribution—Institutional Shares | 55 |
Custodian Fees | 310 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 785 |
Shareholders’ Reports—Admiral Shares | 93 |
Shareholders’ Reports—Institutional Shares | 31 |
Trustees’ Fees and Expenses | 6 |
Total Expenses | 15,305 |
Net Investment Income | 313,317 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 1,589,796 |
Futures Contracts | 7,185 |
Swap Contracts | 15,889 |
Realized Net Gain (Loss) | 1,612,870 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 6,648,378 |
Futures Contracts | (38) |
Swap Contracts | 1,780 |
Change in Unrealized Appreciation (Depreciation) | 6,650,120 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 8,576,307 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $35,000, $8,000, and ($9,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $821,366,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 313,317 | 620,314 | |
Realized Net Gain (Loss) | 1,612,870 | (634,360) | |
Change in Unrealized Appreciation (Depreciation) | 6,650,120 | 2,345,495 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 8,576,307 | 2,331,449 | |
Distributions | |||
Investor Shares | (1,915) | (3,847) | |
ETF Shares | (179,214) | (285,203) | |
Admiral Shares | (135,736) | (241,645) | |
Institutional Shares | (33,704) | (63,508) | |
Total Distributions | (350,569) | (594,203) | |
Capital Share Transactions | |||
Investor Shares | (33,671) | (25,540) | |
ETF Shares | 2,566,617 | 1,967,955 | |
Admiral Shares | 1,076,103 | (82,929) | |
Institutional Shares | 55,267 | (39,394) | |
Net Increase (Decrease) from Capital Share Transactions | 3,664,316 | 1,820,092 | |
Total Increase (Decrease) | 11,890,054 | 3,557,338 | |
Net Assets | |||
Beginning of Period | 36,158,979 | 32,601,641 | |
End of Period | 48,049,033 | 36,158,979 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $34.08 | $32.86 | $27.35 | $31.82 | $29.00 | $23.69 |
Investment Operations | ||||||
Net Investment Income | .2601 | .5501 | .5431 | .6031 | .5341 | .477 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.575 | 1.208 | 5.608 | (4.471) | 2.820 | 5.315 |
Total from Investment Operations | 7.835 | 1.758 | 6.151 | (3.868) | 3.354 | 5.792 |
Distributions | ||||||
Dividends from Net Investment Income | (.285) | (.538) | (.641) | (.602) | (.534) | (.482) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.285) | (.538) | (.641) | (.602) | (.534) | (.482) |
Net Asset Value, End of Period | $41.63 | $34.08 | $32.86 | $27.35 | $31.82 | $29.00 |
Total Return2 | 23.03% | 5.72% | 22.61% | -12.34% | 11.67% | 24.65% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $252 | $234 | $255 | $1,501 | $2,060 | $2,357 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 1.35% | 1.98% | 1.76% | 1.92% | 1.82% | 1.96% |
Portfolio Turnover Rate3 | 8% | 26% | 19% | 18% | 19% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $142.13 | $137.05 | $114.05 | $132.71 | $120.95 | $98.81 |
Investment Operations | ||||||
Net Investment Income | 1.1691 | 2.5841 | 2.8401 | 2.7201 | 2.4271 | 2.119 |
Net Realized and Unrealized Gain (Loss) on Investments | 31.618 | 4.884 | 22.984 | (18.702) | 11.709 | 22.159 |
Total from Investment Operations | 32.787 | 7.468 | 25.824 | (15.982) | 14.136 | 24.278 |
Distributions | ||||||
Dividends from Net Investment Income | (1.287) | (2.388) | (2.824) | (2.678) | (2.376) | (2.138) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.287) | (2.388) | (2.824) | (2.678) | (2.376) | (2.138) |
Net Asset Value, End of Period | $173.63 | $142.13 | $137.05 | $114.05 | $132.71 | $120.95 |
Total Return | 23.10% | 5.82% | 22.76% | -12.22% | 11.79% | 24.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $24,557 | $17,837 | $14,808 | $11,560 | $12,650 | $10,042 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.45% | 2.23% | 2.19% | 2.04% | 1.94% | 2.08% |
Portfolio Turnover Rate2 | 8% | 26% | 19% | 18% | 19% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $61.07 | $58.89 | $49.01 | $57.02 | $51.97 | $42.46 |
Investment Operations | ||||||
Net Investment Income | .5031 | 1.0581 | 1.2301 | 1.1651 | 1.0391 | .911 |
Net Realized and Unrealized Gain (Loss) on Investments | 13.590 | 2.148 | 9.863 | (8.024) | 5.032 | 9.518 |
Total from Investment Operations | 14.093 | 3.206 | 11.093 | (6.859) | 6.071 | 10.429 |
Distributions | ||||||
Dividends from Net Investment Income | (.553) | (1.026) | (1.213) | (1.151) | (1.021) | (.919) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.553) | (1.026) | (1.213) | (1.151) | (1.021) | (.919) |
Net Asset Value, End of Period | $74.61 | $61.07 | $58.89 | $49.01 | $57.02 | $51.97 |
Total Return2 | 23.12% | 5.85% | 22.76% | -12.23% | 11.80% | 24.78% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $18,610 | $14,314 | $13,907 | $10,167 | $11,278 | $9,469 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.45% | 2.13% | 2.21% | 2.04% | 1.94% | 2.08% |
Portfolio Turnover Rate3 | 8% | 26% | 19% | 18% | 19% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $34.14 | $32.92 | $27.39 | $31.87 | $29.05 | $23.73 |
Investment Operations | ||||||
Net Investment Income | .2831 | .5971 | .6841 | .6511 | .5871 | .510 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.588 | 1.199 | 5.527 | (4.485) | 2.808 | 5.324 |
Total from Investment Operations | 7.871 | 1.796 | 6.211 | (3.834) | 3.395 | 5.834 |
Distributions | ||||||
Dividends from Net Investment Income | (.311) | (.576) | (.681) | (.646) | (.575) | (.514) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.311) | (.576) | (.681) | (.646) | (.575) | (.514) |
Net Asset Value, End of Period | $41.70 | $34.14 | $32.92 | $27.39 | $31.87 | $29.05 |
Total Return | 23.10% | 5.86% | 22.81% | -12.23% | 11.80% | 24.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $4,630 | $3,774 | $3,632 | $3,077 | $3,649 | $2,882 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.46% | 2.14% | 2.20% | 2.05% | 1.95% | 2.09% |
Portfolio Turnover Rate2 | 8% | 26% | 19% | 18% | 19% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 47,912,379 | — | 90 | 47,912,469 |
Temporary Cash Investments | 462,087 | — | — | 462,087 |
Total | 48,374,466 | — | 90 | 48,374,556 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 245 | — | — | 245 |
Swap Contracts | — | 4,364 | — | 4,364 |
Total | 245 | 4,364 | — | 4,609 |
Liabilities | ||||
Swap Contracts | — | 4,632 | — | 4,632 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 33,756,987 |
Gross Unrealized Appreciation | 16,021,391 |
Gross Unrealized Depreciation | (1,403,845) |
Net Unrealized Appreciation (Depreciation) | 14,617,546 |
E. | During the six months ended June 30, 2021, the fund purchased $8,470,511,000 of investment securities and sold $4,843,519,000 of investment securities, other than temporary cash investments. Purchases and sales include $3,511,209,000 and $1,205,310,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 44,585 | 1,136 | 19,233 | 700 | |
Issued in Lieu of Cash Distributions | 1,915 | 48 | 3,847 | 138 | |
Redeemed | (80,171) | (1,989) | (48,620) | (1,724) | |
Net Increase (Decrease)—Investor Shares | (33,671) | (805) | (25,540) | (886) | |
ETF Shares | |||||
Issued | 3,681,583 | 22,505 | 4,997,914 | 43,220 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,114,966) | (6,575) | (3,029,959) | (25,775) | |
Net Increase (Decrease)—ETF Shares | 2,566,617 | 15,930 | 1,967,955 | 17,445 | |
Admiral Shares | |||||
Issued | 2,736,489 | 38,698 | 3,197,023 | 67,416 | |
Issued in Lieu of Cash Distributions | 117,985 | 1,654 | 210,169 | 4,208 | |
Redeemed | (1,778,371) | (25,313) | (3,490,121) | (73,393) | |
Net Increase (Decrease)—Admiral Shares | 1,076,103 | 15,039 | (82,929) | (1,769) | |
Institutional Shares | |||||
Issued | 653,471 | 16,451 | 884,087 | 33,455 | |
Issued in Lieu of Cash Distributions | 31,499 | 790 | 57,484 | 2,056 | |
Redeemed | (629,703) | (16,769) | (980,965) | (35,290) | |
Net Increase (Decrease)—Institutional Shares | 55,267 | 472 | (39,394) | 221 |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
U.S. Patent Nos. 6,879,964; 7,337,138;
7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636.
Vanguard Marketing Corporation, Distributor.
Mid-Capitalization Portfolios
Vanguard Extended Market Index Fund |
Vanguard Mid-Cap Index Fund |
Vanguard Mid-Cap Growth Index Fund |
Vanguard Mid-Cap Value Index Fund |
• | 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 June 30, 2021 | |||
Beginning Account Value 12/31/2020 | Ending Account Value 6/30/2021 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Extended Market Index Fund | |||
Investor Shares | $1,000.00 | $1,153.80 | $1.01 |
ETF Shares | 1,000.00 | 1,154.40 | 0.32 |
AdmiralTM Shares | 1,000.00 | 1,154.50 | 0.32 |
Institutional Shares | 1,000.00 | 1,154.60 | 0.27 |
Institutional Plus Shares | 1,000.00 | 1,154.70 | 0.21 |
Institutional Select Shares | 1,000.00 | 1,154.80 | 0.11 |
Mid-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,152.50 | $0.91 |
ETF Shares | 1,000.00 | 1,153.20 | 0.21 |
Admiral Shares | 1,000.00 | 1,153.10 | 0.27 |
Institutional Shares | 1,000.00 | 1,153.10 | 0.21 |
Institutional Plus Shares | 1,000.00 | 1,153.20 | 0.16 |
Mid-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,115.50 | $1.00 |
ETF Shares | 1,000.00 | 1,116.30 | 0.37 |
Admiral Shares | 1,000.00 | 1,116.30 | 0.37 |
Mid-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $1,191.20 | $1.03 |
ETF Shares | 1,000.00 | 1,192.00 | 0.38 |
Admiral Shares | 1,000.00 | 1,192.10 | 0.38 |
Six Months Ended June 30, 2021 | |||
Beginning Account Value 12/31/2020 | Ending Account Value 6/30/2021 | Expenses Paid During Period | |
Based on Hypothetical 5% Yearly Return | |||
Extended Market Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.50 | 0.30 |
AdmiralTM Shares | 1,000.00 | 1,024.50 | 0.30 |
Institutional Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Plus Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Select Shares | 1,000.00 | 1,024.70 | 0.10 |
Mid-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Plus Shares | 1,000.00 | 1,024.65 | 0.15 |
Mid-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Mid-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Communication Services | 6.3% |
Consumer Discretionary | 11.6 |
Consumer Staples | 2.7 |
Energy | 2.4 |
Financials | 13.5 |
Health Care | 15.5 |
Industrials | 13.4 |
Information Technology | 22.3 |
Materials | 3.7 |
Other | 0.0 |
Real Estate | 6.8 |
Utilities | 1.8 |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Common Stocks | ||||||
Communication Services | ||||||
Snap Inc. Class A* | 13,357,775 | 910,199 | 0.80% | |||
Match Group Inc.* | 3,836,407 | 618,621 | 0.54% | |||
Pinterest Inc. Class A* | 7,785,354 | 614,654 | 0.54% | |||
Roku Inc. Class A* | 1,314,678 | 603,766 | 0.53% | |||
Liberty Broadband Corp. Class C* | 2,429,645 | 421,932 | 0.37% | |||
AMC Entertainment Holdings Inc. Class A*,1 | 7,077,805 | 401,170 | 0.35% | |||
Zillow Group Inc. Class C* | 2,142,196 | 261,819 | 0.23% | |||
Zillow Group Inc. Class A* | 653,145 | 80,030 | 0.07% | |||
Liberty Broadband Corp. Class A* | 157,517 | 26,490 | 0.02% | |||
† | Communication Services—Other*,1,2 | 3,183,786 | 2.77% | |||
7,122,467 | 6.22% | |||||
Consumer Discretionary | ||||||
Lululemon Athletica Inc.* | 1,681,572 | 613,723 | 0.54% | |||
Peloton Interactive Inc. Class A* | 3,827,712 | 474,713 | 0.42% | |||
Airbnb Inc. Class A* | 2,087,180 | 319,631 | 0.28% | |||
Burlington Stores Inc.* | 939,474 | 302,501 | 0.26% | |||
Wayfair Inc. Class A* | 915,477 | 289,025 | 0.25% | |||
Carvana Co.* | 920,994 | 277,974 | 0.24% | |||
† | Consumer Discretionary—Other*,1,2 | 10,873,027 | 9.50% | |||
13,150,594 | 11.49% | |||||
Consumer Staples | ||||||
Keurig Dr Pepper Inc. | 8,182,390 | 288,347 | 0.25% | |||
† | Consumer Staples—Other*,1 | 2,739,829 | 2.40% | |||
3,028,176 | 2.65% | |||||
Energy | ||||||
Cheniere Energy Inc.* | 3,265,988 | 283,292 | 0.25% | |||
† | Energy—Other*,1,2 | 2,435,487 | 2.12% | |||
2,718,779 | 2.37% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Financials | ||||||
Blackstone Group Inc. | 9,686,293 | 940,927 | 0.82% | |||
KKR & Co. Inc. | 8,217,609 | 486,811 | 0.43% | |||
† | Financials—Other*,1,2 | 13,876,590 | 12.12% | |||
15,304,328 | 13.37% | |||||
Health Care | ||||||
Moderna Inc.* | 4,345,548 | 1,021,117 | 0.89% | |||
Veeva Systems Inc. Class A* | 1,885,773 | 586,381 | 0.51% | |||
Teladoc Health Inc.* | 1,859,060 | 309,143 | 0.27% | |||
Exact Sciences Corp.* | 2,431,784 | 302,295 | 0.26% | |||
Horizon Therapeutics plc* | 3,181,343 | 297,901 | 0.26% | |||
Alnylam Pharmaceuticals Inc.* | 1,666,295 | 282,470 | 0.25% | |||
Seagen Inc.* | 1,718,491 | 271,315 | 0.24% | |||
Novocure Ltd.* | 1,220,178 | 270,660 | 0.24% | |||
† | Health Care—Other*,1,2 | 14,216,196 | 12.42% | |||
17,557,478 | 15.34% | |||||
Industrials | ||||||
Uber Technologies Inc.* | 21,037,893 | 1,054,419 | 0.92% | |||
CoStar Group Inc.* | 5,585,352 | 462,579 | 0.40% | |||
TransUnion | 2,703,400 | 296,860 | 0.26% | |||
† | Industrials—Other*,1,2,3 | 13,376,905 | 11.69% | |||
15,190,763 | 13.27% | |||||
Information Technology | ||||||
Square Inc. Class A* | 5,580,220 | 1,360,458 | 1.19% | |||
Zoom Video Communications Inc. Class A* | 3,033,193 | 1,173,937 | 1.03% | |||
Twilio Inc. Class A* | 2,108,302 | 831,008 | 0.73% | |||
DocuSign Inc.* | 2,767,415 | 773,686 | 0.68% | |||
Crowdstrike Holdings Inc. Class A* | 2,835,643 | 712,625 | 0.62% | |||
Marvell Technology Inc. | 11,594,622 | 676,314 | 0.59% | |||
Workday Inc. Class A* | 2,538,399 | 606,017 | 0.53% | |||
Palo Alto Networks Inc.* | 1,378,069 | 511,332 | 0.45% | |||
Trade Desk Inc. Class A* | 6,131,278 | 474,316 | 0.41% | |||
Okta Inc. Class A* | 1,772,639 | 433,729 | 0.38% | |||
EPAM Systems Inc.* | 796,569 | 407,015 | 0.36% | |||
HubSpot Inc.* | 623,711 | 363,449 | 0.32% | |||
Dell Technologies Inc. Class C* | 3,519,886 | 350,827 | 0.31% | |||
Slack Technologies Inc. Class A* | 7,263,525 | 321,774 | 0.28% | |||
Datadog Inc. Class A* | 3,090,099 | 321,617 | 0.28% | |||
RingCentral Inc. Class A* | 1,096,700 | 318,679 | 0.28% | |||
Splunk Inc.* | 2,102,816 | 304,025 | 0.27% | |||
Cloudflare Inc. Class A* | 2,732,784 | 289,238 | 0.25% | |||
MongoDB Inc. Class A* | 757,873 | 273,986 | 0.24% | |||
Coupa Software Inc.* | 1,042,634 | 273,285 | 0.24% | |||
BM Technologies Inc. (Acquired 12/17/20, Cost $961)*,4 | 66,937 | 749 | 0.00% | |||
† | Information Technology—Other*,1,2 | 14,437,118 | 12.59% | |||
25,215,184 | 22.03% | |||||
†Materials*,1,2 | 4,209,534 | 3.68% | ||||
†Other*,2,5 | 225 | 0.00% | ||||
Real Estate | ||||||
Invitation Homes Inc. | 8,010,086 | 298,696 | 0.26% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Sun Communities Inc. | 1,590,005 | 272,527 | 0.24% | |||
† | Real Estate—Other*,1 | 7,168,832 | 6.26% | |||
7,740,055 | 6.76% | |||||
†Utilities*,1 | 2,026,675 | 1.77% | ||||
Total Common Stocks (Cost $70,199,705) | 113,264,258 | 98.95% | ||||
†Preferred Stocks (Cost $143) | 190 | 0.00% | ||||
Coupon | ||||||
Temporary Cash Investments | ||||||
Money Market Fund | ||||||
Vanguard Market Liquidity Fund6,7 (Cost $3,510,384) | 0.056% | 35,106,450 | 3,510,645 | 3.07% | ||
Total Investments (Cost $73,710,232) | 116,775,093 | 102.02% | ||||
Other Assets and Liabilities—Net | (2,307,311) | (2.02%) | ||||
Net Assets | 114,467,782 | 100.00% |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
* | Includes non-income-producing security. |
† | Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,373,517,000. |
2 | Certain securities are valued using significant unobservable inputs. |
3 | Certain securities are 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 June 30, 2021, the aggregate value of these securities was $45,527,000, representing 0.0% of net assets. |
4 | Restricted securities totaling $749,000, representing 0.0% of net assets. |
5 | “Other” represents securities that are not classified by the fund’s benchmark index. |
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. |
7 | Collateral of $2,526,378,000 was received for securities on loan, of which $2,486,865,000 is held in Vanguard Market Liquidity Fund and $39,513,000 is held in cash. |
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 2021 | 4,488 | 517,870 | (5,138) |
E-mini S&P 500 Index | September 2021 | 876 | 187,841 | 4,121 |
E-mini S&P Mid-Cap 400 Index | September 2021 | 110 | 29,616 | (589) |
(1,606) |
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) |
Alcoa Corp. | 8/31/21 | BOANA | 7,736 | (0.586) | — | (555) |
Bandwidth Inc. Class A | 8/31/21 | BOANA | 8,280 | (0.536) | 1,371 | — |
New York Community Bancorp Inc. | 8/31/21 | BOANA | 1,197 | (0.436) | — | (96) |
RingCentral Inc. Class A | 8/31/21 | BOANA | 13,124 | (0.586) | 1,399 | — |
Roku Inc. Class A | 1/31/22 | GSI | 110,461 | (0.082) | 38,792 | — |
Seagen Inc. | 8/31/21 | BOANA | 11,651 | (0.086) | 189 | — |
Sirius XM Holdings Inc. | 1/31/22 | GSI | 26,520 | (0.082) | — | (361) |
Splunk Inc. | 8/31/21 | BOANA | 26,664 | (0.086) | 5,142 | — |
Twilio Inc. Class A | 8/31/21 | BOANA | 67,200 | (0.086) | 11,628 | — |
Veeva Systems Inc. Class A | 8/31/21 | BOANA | 18,937 | (0.086) | 1,273 | — |
Vistra Corp. | 8/31/21 | BOANA | 5,660 | (0.386) | 884 | — |
Wayfair Inc. Class A | 8/31/21 | BOANA | 39,850 | (0.086) | 1,189 | — |
Workday Inc. Class A | 8/31/21 | BOANA | 32,021 | (0.086) | 1,401 | — |
63,268 | (1,012) |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $70,199,848) | 113,264,448 |
Affiliated Issuers (Cost $3,510,384) | 3,510,645 |
Total Investments in Securities | 116,775,093 |
Investment in Vanguard | 3,834 |
Cash | 39,513 |
Cash Collateral Pledged—Futures Contracts | 40,302 |
Receivables for Investment Securities Sold | 385,320 |
Receivables for Accrued Income | 75,224 |
Receivables for Capital Shares Issued | 137,747 |
Variation Margin Receivable—Futures Contracts | 1,036 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 63,268 |
Total Assets | 117,521,337 |
Liabilities | |
Due to Custodian | 280,170 |
Payables for Investment Securities Purchased | 35,891 |
Collateral for Securities on Loan | 2,526,378 |
Payables for Capital Shares Redeemed | 207,966 |
Payables to Vanguard | 2,138 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 1,012 |
Total Liabilities | 3,053,555 |
Net Assets | 114,467,782 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 70,876,098 |
Total Distributable Earnings (Loss) | 43,591,684 |
Net Assets | 114,467,782 |
Investor Shares—Net Assets | |
Applicable to 3,236,938 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 463,827 |
Net Asset Value Per Share—Investor Shares | $143.29 |
ETF Shares—Net Assets | |
Applicable to 92,758,889 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 17,506,827 |
Net Asset Value Per Share—ETF Shares | $188.73 |
Admiral Shares—Net Assets | |
Applicable to 214,464,816 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 30,710,281 |
Net Asset Value Per Share—Admiral Shares | $143.19 |
Institutional Shares—Net Assets | |
Applicable to 154,156,962 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 22,072,875 |
Net Asset Value Per Share—Institutional Shares | $143.18 |
Institutional Plus Shares—Net Assets | |
Applicable to 41,900,068 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 14,805,655 |
Net Asset Value Per Share—Institutional Plus Shares | $353.36 |
Institutional Select Shares—Net Assets | |
Applicable to 125,642,517 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 28,908,317 |
Net Asset Value Per Share—Institutional Select Shares | $230.08 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 419,311 |
Interest1 | 403 |
Securities Lending—Net | 37,896 |
Total Income | 457,610 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,743 |
Management and Administrative—Investor Shares | 425 |
Management and Administrative—ETF Shares | 3,759 |
Management and Administrative—Admiral Shares | 7,590 |
Management and Administrative—Institutional Shares | 4,437 |
Management and Administrative—Institutional Plus Shares | 2,131 |
Management and Administrative—Institutional Select Shares | 2,048 |
Marketing and Distribution—Investor Shares | 11 |
Marketing and Distribution—ETF Shares | 292 |
Marketing and Distribution—Admiral Shares | 359 |
Marketing and Distribution—Institutional Shares | 244 |
Marketing and Distribution—Institutional Plus Shares | 73 |
Marketing and Distribution—Institutional Select Shares | — |
Custodian Fees | 824 |
Shareholders’ Reports—Investor Shares | 2 |
Shareholders’ Reports—ETF Shares | 290 |
Shareholders’ Reports—Admiral Shares | 92 |
Shareholders’ Reports—Institutional Shares | 86 |
Shareholders’ Reports—Institutional Plus Shares | 59 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 15 |
Total Expenses | 24,480 |
Net Investment Income | 433,130 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 2,951,786 |
Futures Contracts | 102,408 |
Swap Contracts | (5,940) |
Realized Net Gain (Loss) | 3,048,254 |
Statement of Operations (continued) | |
Six Months Ended June 30, 2021 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 11,439,931 |
Futures Contracts | (15,124) |
Swap Contracts | 62,026 |
Change in Unrealized Appreciation (Depreciation) | 11,486,833 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 14,968,217 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $395,000, $0, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $2,938,531,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 433,130 | 872,480 | |
Realized Net Gain (Loss) | 3,048,254 | 8,918,158 | |
Change in Unrealized Appreciation (Depreciation) | 11,486,833 | 13,654,329 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 14,968,217 | 23,444,967 | |
Distributions | |||
Investor Shares | (2,428) | (4,603) | |
ETF Shares | (92,946) | (137,503) | |
Admiral Shares | (169,332) | (294,052) | |
Institutional Shares | (123,317) | (203,836) | |
Institutional Plus Shares | (79,833) | (128,356) | |
Institutional Select Shares | (163,026) | (266,898) | |
Total Distributions | (630,882) | (1,035,248) | |
Capital Share Transactions | |||
Investor Shares | (55,588) | (104,325) | |
ETF Shares | 1,683,310 | 2,263,951 | |
Admiral Shares | (29,994) | (1,839,723) | |
Institutional Shares | 591,271 | (660,488) | |
Institutional Plus Shares | 1,368,342 | (518,910) | |
Institutional Select Shares | 777,212 | (297,897) | |
Net Increase (Decrease) from Capital Share Transactions | 4,334,553 | (1,157,392) | |
Total Increase (Decrease) | 18,671,888 | 21,252,327 | |
Net Assets | |||
Beginning of Period | 95,795,894 | 74,543,567 | |
End of Period | 114,467,782 | 95,795,894 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $124.83 | $95.66 | $75.74 | $84.80 | $72.76 | $63.61 |
Investment Operations | ||||||
Net Investment Income | .4611 | .9831 | .9621 | 1.1931 | .9161 | .919 |
Net Realized and Unrealized Gain (Loss) on Investments | 18.696 | 29.401 | 20.089 | (9.104) | 12.074 | 9.182 |
Total from Investment Operations | 19.157 | 30.384 | 21.051 | (7.911) | 12.990 | 10.101 |
Distributions | ||||||
Dividends from Net Investment Income | (.697) | (1.214) | (1.131) | (1.149) | (.950) | (.951) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.697) | (1.214) | (1.131) | (1.149) | (.950) | (.951) |
Net Asset Value, End of Period | $143.29 | $124.83 | $95.66 | $75.74 | $84.80 | $72.76 |
Total Return2 | 15.38% | 32.04% | 27.87% | -9.47% | 17.94% | 15.99% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $464 | $454 | $455 | $1,139 | $1,548 | $2,021 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19% | 0.19% | 0.19% | 0.21% | 0.21% |
Ratio of Net Investment Income to Average Net Assets | 0.68% | 1.04% | 1.09% | 1.38% | 1.24% | 1.48% |
Portfolio Turnover Rate3 | 6% | 19% | 13% | 10% | 11% | 12% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $164.43 | $126.02 | $99.77 | $111.72 | $95.86 | $83.80 |
Investment Operations | ||||||
Net Investment Income | .7101 | 1.5091 | 1.6361 | 1.7421 | 1.4201 | 1.324 |
Net Realized and Unrealized Gain (Loss) on Investments | 24.629 | 38.668 | 26.255 | (12.036) | 15.835 | 12.107 |
Total from Investment Operations | 25.339 | 40.177 | 27.891 | (10.294) | 17.255 | 13.431 |
Distributions | ||||||
Dividends from Net Investment Income | (1.039) | (1.767) | (1.641) | (1.656) | (1.395) | (1.371) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.039) | (1.767) | (1.641) | (1.656) | (1.395) | (1.371) |
Net Asset Value, End of Period | $188.73 | $164.43 | $126.02 | $99.77 | $111.72 | $95.86 |
Total Return | 15.44% | 32.20% | 28.04% | -9.37% | 18.10% | 16.16% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $17,507 | $13,761 | $8,119 | $6,095 | $5,711 | $4,387 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.07% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 0.79% | 1.20% | 1.40% | 1.50% | 1.37% | 1.61% |
Portfolio Turnover Rate2 | 6% | 19% | 13% | 10% | 11% | 12% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $124.75 | $95.61 | $75.70 | $84.76 | $72.72 | $63.58 |
Investment Operations | ||||||
Net Investment Income | .5431 | 1.1121 | 1.2361 | 1.3071 | 1.0711 | 1.005 |
Net Realized and Unrealized Gain (Loss) on Investments | 18.684 | 29.367 | 19.918 | (9.111) | 12.026 | 9.175 |
Total from Investment Operations | 19.227 | 30.479 | 21.154 | (7.804) | 13.097 | 10.180 |
Distributions | ||||||
Dividends from Net Investment Income | (.787) | (1.339) | (1.244) | (1.256) | (1.057) | (1.040) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.787) | (1.339) | (1.244) | (1.256) | (1.057) | (1.040) |
Net Asset Value, End of Period | $143.19 | $124.75 | $95.61 | $75.70 | $84.76 | $72.72 |
Total Return2 | 15.45% | 32.21% | 28.03% | -9.36% | 18.11% | 16.13% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $30,710 | $26,784 | $22,391 | $17,644 | $19,712 | $15,830 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.07% | 0.08% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 0.80% | 1.18% | 1.39% | 1.50% | 1.37% | 1.61% |
Portfolio Turnover Rate3 | 6% | 19% | 13% | 10% | 11% | 12% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $124.74 | $95.60 | $75.69 | $84.75 | $72.72 | $63.58 |
Investment Operations | ||||||
Net Investment Income | .5491 | 1.1251 | 1.2391 | 1.3191 | 1.0851 | 1.018 |
Net Realized and Unrealized Gain (Loss) on Investments | 18.685 | 29.364 | 19.925 | (9.113) | 12.018 | 9.175 |
Total from Investment Operations | 19.234 | 30.489 | 21.164 | (7.794) | 13.103 | 10.193 |
Distributions | ||||||
Dividends from Net Investment Income | (.794) | (1.349) | (1.254) | (1.266) | (1.073) | (1.053) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.794) | (1.349) | (1.254) | (1.266) | (1.073) | (1.053) |
Net Asset Value, End of Period | $143.18 | $124.74 | $95.60 | $75.69 | $84.75 | $72.72 |
Total Return | 15.46% | 32.23% | 28.05% | -9.35% | 18.12% | 16.15% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $22,073 | $18,659 | $14,927 | $12,443 | $13,359 | $10,554 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.81% | 1.19% | 1.40% | 1.51% | 1.39% | 1.63% |
Portfolio Turnover Rate2 | 6% | 19% | 13% | 10% | 11% | 12% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $307.85 | $235.94 | $186.80 | $209.16 | $179.47 | $156.89 |
Investment Operations | ||||||
Net Investment Income | 1.3641 | 2.7981 | 3.0781 | 3.2081 | 2.6111 | 2.525 |
Net Realized and Unrealized Gain (Loss) on Investments | 46.123 | 72.466 | 49.178 | (22.426) | 29.741 | 22.668 |
Total from Investment Operations | 47.487 | 75.264 | 52.256 | (19.218) | 32.352 | 25.193 |
Distributions | ||||||
Dividends from Net Investment Income | (1.977) | (3.354) | (3.116) | (3.142) | (2.662) | (2.613) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.977) | (3.354) | (3.116) | (3.142) | (2.662) | (2.613) |
Net Asset Value, End of Period | $353.36 | $307.85 | $235.94 | $186.80 | $209.16 | $179.47 |
Total Return | 15.47% | 32.24% | 28.07% | -9.35% | 18.13% | 16.18% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $14,806 | $11,665 | $9,486 | $7,559 | $10,565 | $13,530 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 0.82% | 1.20% | 1.41% | 1.52% | 1.40% | 1.64% |
Portfolio Turnover Rate2 | 6% | 19% | 13% | 10% | 11% | 12% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 Select Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | June 27, 20161 to December 31, 2016 | |||
2020 | 2019 | 2018 | 2017 | |||
Net Asset Value, Beginning of Period | $200.45 | $153.63 | $121.63 | $136.19 | $116.85 | $98.43 |
Investment Operations | ||||||
Net Investment Income | .9152 | 1.8552 | 2.0592 | 2.1842 | 1.8912 | 1.050 |
Net Realized and Unrealized Gain (Loss) on Investments | 30.024 | 47.179 | 31.999 | (14.655) | 19.221 | 18.428 |
Total from Investment Operations | 30.939 | 49.034 | 34.058 | (12.471) | 21.112 | 19.478 |
Distributions | ||||||
Dividends from Net Investment Income | (1.309) | (2.214) | (2.058) | (2.089) | (1.772) | (1.058) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.309) | (2.214) | (2.058) | (2.089) | (1.772) | (1.058) |
Net Asset Value, End of Period | $230.08 | $200.45 | $153.63 | $121.63 | $136.19 | $116.85 |
Total Return | 15.48% | 32.27% | 28.09% | -9.32% | 18.17% | 19.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $28,908 | $24,472 | $19,166 | $13,390 | $12,250 | $5,227 |
Ratio of Total Expenses to Average Net Assets | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02%3 |
Ratio of Net Investment Income to Average Net Assets | 0.84% | 1.22% | 1.44% | 1.55% | 1.43% | 1.88%3 |
Portfolio Turnover Rate4 | 6% | 19% | 13% | 10% | 11% | 12%5 |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
5 | Reflects the fund’s portfolio turnover for the fiscal year ended December 31, 2016. |
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 | 113,252,811 | 771 | 10,676 | 113,264,258 |
Preferred Stocks | 190 | — | — | 190 |
Temporary Cash Investments | 3,510,645 | — | — | 3,510,645 |
Total | 116,763,646 | 771 | 10,676 | 116,775,093 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 4,121 | — | — | 4,121 |
Swap Contracts | — | 63,268 | — | 63,268 |
Total | 4,121 | 63,268 | — | 67,389 |
Liabilities | ||||
Futures Contracts1 | 5,727 | — | — | 5,727 |
Swap Contracts | — | 1,012 | — | 1,012 |
Total | 5,727 | 1,012 | — | 6,739 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 73,930,233 |
Gross Unrealized Appreciation | 47,612,463 |
Gross Unrealized Depreciation | (4,706,953) |
Net Unrealized Appreciation (Depreciation) | 42,905,510 |
E. | During the six months ended June 30, 2021, the fund purchased $15,326,026,000 of investment securities and sold $11,337,913,000 of investment securities, other than temporary cash investments. Purchases and sales include $6,184,689,000 and $4,600,417,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 25,956 | 189 | 22,830 | 247 | |
Issued in Lieu of Cash Distributions | 2,428 | 18 | 4,603 | 45 | |
Redeemed | (83,972) | (610) | (131,758) | (1,409) | |
Net Increase (Decrease)—Investor Shares | (55,588) | (403) | (104,325) | (1,117) | |
ETF Shares | |||||
Issued | 6,362,626 | 35,168 | 14,624,815 | 107,064 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (4,679,316) | (26,100) | (12,360,864) | (87,800) | |
Net Increase (Decrease)—ETF Shares | 1,683,310 | 9,068 | 2,263,951 | 19,264 | |
Admiral Shares | |||||
Issued | 2,386,649 | 17,506 | 3,059,775 | 34,243 | |
Issued in Lieu of Cash Distributions | 142,564 | 1,059 | 247,838 | 2,462 | |
Redeemed | (2,559,207) | (18,800) | (5,147,336) | (56,192) | |
Net Increase (Decrease)—Admiral Shares | (29,994) | (235) | (1,839,723) | (19,487) | |
Institutional Shares | |||||
Issued | 2,811,874 | 20,718 | 2,848,323 | 30,960 | |
Issued in Lieu of Cash Distributions | 115,418 | 857 | 191,072 | 1,896 | |
Redeemed | (2,336,021) | (16,993) | (3,699,883) | (39,412) | |
Net Increase (Decrease)—Institutional Shares | 591,271 | 4,582 | (660,488) | (6,556) | |
Institutional Plus Shares | |||||
Issued | 2,421,687 | 7,101 | 1,524,569 | 6,648 | |
Issued in Lieu of Cash Distributions | 76,028 | 229 | 122,184 | 493 | |
Redeemed | (1,129,373) | (3,322) | (2,165,663) | (9,455) | |
Net Increase (Decrease)—Institutional Plus Shares | 1,368,342 | 4,008 | (518,910) | (2,314) | |
Institutional Select Shares | |||||
Issued | 1,260,029 | 5,758 | 1,631,575 | 10,461 | |
Issued in Lieu of Cash Distributions | 163,026 | 753 | 266,898 | 1,647 | |
Redeemed | (645,843) | (2,955) | (2,196,370) | (14,775) | |
Net Increase (Decrease)—Institutional Select Shares | 777,212 | 3,556 | (297,897) | (2,667) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Basic Materials | 3.3% |
Consumer Discretionary | 15.8 |
Consumer Staples | 3.8 |
Energy | 4.3 |
Financials | 11.2 |
Health Care | 11.8 |
Industrials | 14.6 |
Real Estate | 8.7 |
Technology | 18.7 |
Telecommunications | 2.2 |
Utilities | 5.6 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.3%) | ||||||
Basic Materials (3.3%) | ||||||
International Flavors & Fragrances Inc. | 5,543,294 | 828,168 | ||||
Fastenal Co. | 12,790,290 | 665,095 | ||||
Nucor Corp. | 6,663,963 | 639,274 | ||||
International Paper Co. | 8,723,887 | 534,861 | ||||
Albemarle Corp. | 2,599,316 | 437,881 | ||||
Avery Dennison Corp. | 1,848,553 | 388,640 | ||||
Celanese Corp. | 2,508,218 | 380,246 | ||||
Eastman Chemical Co. | 3,040,023 | 354,923 | ||||
FMC Corp. | 2,869,862 | 310,519 | ||||
LyondellBasell Industries NV Class A | 2,978,194 | 306,367 | ||||
CF Industries Holdings Inc. | 2,389,334 | 122,931 | ||||
Westlake Chemical Corp. | 357,585 | 32,215 | ||||
Freeport-McMoRan Inc. | 18 | — | ||||
5,001,120 | ||||||
Consumer Discretionary (15.7%) | ||||||
* | Chipotle Mexican Grill Inc. | 626,894 | 971,899 | |||
* | Aptiv plc | 6,023,137 | 947,620 | |||
*,1 | Trade Desk Inc. Class A | 9,602,982 | 742,887 | |||
* | Peloton Interactive Inc. Class A | 5,685,645 | 705,134 | |||
DR Horton Inc. | 7,226,059 | 653,019 | ||||
* | Copart Inc. | 4,741,710 | 625,100 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 10,985,152 | 622,638 | |||
Lennar Corp. Class A | 6,235,296 | 619,477 | ||||
* | Delta Air Lines Inc. | 14,243,399 | 616,169 | |||
* | Etsy Inc. | 2,830,525 | 582,635 | |||
ViacomCBS Inc. Class B | 12,871,010 | 581,770 | ||||
Best Buy Co. Inc. | 5,018,669 | 577,047 | ||||
* | Wayfair Inc. Class A | 1,642,452 | 518,538 | |||
* | Dollar Tree Inc. | 5,211,228 | 518,517 | |||
* | Expedia Group Inc. | 3,149,976 | 515,683 | |||
Garmin Ltd. | 3,423,514 | 495,177 | ||||
* | Carnival Corp. | 18,428,196 | 485,767 |
Shares | Market Value• ($000) | |||||
* | Lululemon Athletica Inc. | 1,323,582 | 483,068 | |||
Tractor Supply Co. | 2,566,751 | 477,570 | ||||
* | Burlington Stores Inc. | 1,481,919 | 477,163 | |||
* | CarMax Inc. | 3,633,348 | 469,247 | |||
* | Caesars Entertainment Inc. | 4,415,316 | 458,089 | |||
* | Take-Two Interactive Software Inc. | 2,575,602 | 455,933 | |||
* | Ulta Beauty Inc. | 1,233,505 | 426,509 | |||
Darden Restaurants Inc. | 2,913,832 | 425,390 | ||||
* | Royal Caribbean Cruises Ltd. | 4,818,756 | 410,943 | |||
Genuine Parts Co. | 3,217,332 | 406,896 | ||||
Domino's Pizza Inc. | 864,683 | 403,366 | ||||
MGM Resorts International | 9,285,573 | 396,030 | ||||
Omnicom Group Inc. | 4,791,311 | 383,257 | ||||
* | NVR Inc. | 76,955 | 382,720 | |||
* | United Airlines Holdings Inc. | 7,205,407 | 376,771 | |||
* | Hilton Worldwide Holdings Inc. | 3,101,354 | 374,085 | |||
* | AutoZone Inc. | 245,373 | 366,150 | |||
* | Southwest Airlines Co. | 6,584,247 | 349,558 | |||
* | Lyft Inc. Class A | 5,711,151 | 345,410 | |||
* | DraftKings Inc. Class A | 6,250,735 | 326,101 | |||
Whirlpool Corp. | 1,394,905 | 304,117 | ||||
PulteGroup Inc. | 5,564,710 | 303,666 | ||||
Advance Auto Parts Inc. | 1,457,176 | 298,925 | ||||
* | Wynn Resorts Ltd. | 2,318,100 | 283,504 | |||
* | LKQ Corp. | 5,720,047 | 281,541 | |||
News Corp. Class A | 10,851,032 | 279,631 | ||||
* | Live Nation Entertainment Inc. | 3,166,074 | 277,316 | |||
Hasbro Inc. | 2,910,520 | 275,102 | ||||
BorgWarner Inc. | 5,341,408 | 259,272 | ||||
Fox Corp. Class A | 6,944,402 | 257,846 | ||||
* | Discovery Inc. Class C | 6,988,915 | 202,539 | |||
L Brands Inc. | 2,484,636 | 179,043 | ||||
Rollins Inc. | 4,928,281 | 168,547 |
Shares | Market Value• ($000) | |||||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 3,457,876 | 160,411 | |||
* | American Airlines Group Inc. | 7,146,908 | 151,586 | |||
Interpublic Group of Cos. Inc. | 4,385,119 | 142,472 | ||||
* | Vail Resorts Inc. | 448,538 | 141,971 | |||
*,1 | GameStop Corp. Class A | 661,440 | 141,641 | |||
* | Penn National Gaming Inc. | 1,741,862 | 133,235 | |||
Fox Corp. Class B | 3,747,098 | 131,898 | ||||
*,1 | Chewy Inc. Class A | 1,636,106 | 130,414 | |||
1 | Sirius XM Holdings Inc. | 18,222,012 | 119,172 | |||
Lear Corp. | 669,718 | 117,388 | ||||
*,1 | Discovery Inc. Class A | 3,564,943 | 109,372 | |||
Aramark | 2,838,841 | 105,747 | ||||
*,1 | QuantumScape Corp. Class A | 2,888,710 | 84,524 | |||
Warner Music Group Corp. Class A | 2,081,427 | 75,015 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 1,511,049 | 70,385 | |||
Lennar Corp. Class B | 212,879 | 17,339 | ||||
News Corp. Class B | 355,310 | 8,652 | ||||
1 | ViacomCBS Inc. Class A | 171,498 | 8,309 | |||
* | Endeavor Group Holdings Inc. Class A | 25,261 | 700 | |||
24,194,613 | ||||||
Consumer Staples (3.8%) | ||||||
Corteva Inc. | 16,442,007 | 729,203 | ||||
Clorox Co. | 2,769,713 | 498,299 | ||||
McCormick & Co. Inc. (Non-Voting) | 5,545,204 | 489,752 | ||||
Tyson Foods Inc. Class A | 6,564,621 | 484,207 | ||||
Church & Dwight Co. Inc. | 5,461,722 | 465,448 | ||||
Conagra Brands Inc. | 10,688,677 | 388,854 | ||||
Archer-Daniels-Midland Co. | 6,221,420 | 377,018 | ||||
AmerisourceBergen Corp. | 3,202,106 | 366,609 | ||||
Kellogg Co. | 5,687,000 | 365,845 | ||||
McKesson Corp. | 1,761,348 | 336,840 | ||||
J M Smucker Co. | 2,318,517 | 300,410 | ||||
Kroger Co. | 7,586,860 | 290,653 | ||||
Hormel Foods Corp. | 5,564,321 | 265,696 | ||||
Lamb Weston Holdings Inc. | 3,257,686 | 262,765 |
Shares | Market Value• ($000) | |||||
Campbell Soup Co. | 3,385,212 | 154,332 | ||||
* | Molson Coors Beverage Co. Class B | 2,009,959 | 107,915 | |||
5,883,846 | ||||||
Energy (4.2%) | ||||||
Pioneer Natural Resources Co. | 4,889,456 | 794,634 | ||||
Valero Energy Corp. | 9,102,804 | 710,747 | ||||
Occidental Petroleum Corp. | 19,747,361 | 617,500 | ||||
ONEOK Inc. | 9,921,966 | 552,058 | ||||
Hess Corp. | 6,181,614 | 539,779 | ||||
* | Cheniere Energy Inc. | 5,081,717 | 440,788 | |||
Marathon Petroleum Corp. | 7,267,090 | 439,078 | ||||
Halliburton Co. | 18,822,914 | 435,186 | ||||
* | Plug Power Inc. | 12,656,228 | 432,716 | |||
Phillips 66 | 4,875,384 | 418,406 | ||||
Baker Hughes Co. | 16,371,494 | 374,416 | ||||
Williams Cos. Inc. | 11,526,024 | 306,016 | ||||
* | Enphase Energy Inc. | 1,359,856 | 249,710 | |||
Devon Energy Corp. | 7,537,417 | 220,017 | ||||
6,531,051 | ||||||
Financials (11.1%) | ||||||
MSCI Inc. | 1,743,728 | 929,547 | ||||
Discover Financial Services | 6,789,679 | 803,151 | ||||
First Republic Bank | 3,924,980 | 734,638 | ||||
* | SVB Financial Group | 1,209,597 | 673,056 | |||
Willis Towers Watson plc | 2,872,237 | 660,672 | ||||
Arthur J Gallagher & Co. | 4,592,691 | 643,344 | ||||
Ameriprise Financial Inc. | 2,581,154 | 642,398 | ||||
Fifth Third Bancorp | 15,677,084 | 599,335 | ||||
Northern Trust Corp. | 4,403,422 | 509,124 | ||||
Hartford Financial Services Group Inc. | 7,954,614 | 492,947 | ||||
Huntington Bancshares Inc. | 32,878,794 | 469,180 | ||||
American International Group Inc. | 9,555,611 | 454,847 | ||||
Nasdaq Inc. | 2,557,975 | 449,692 | ||||
State Street Corp. | 5,457,405 | 449,035 | ||||
KeyCorp | 21,612,776 | 446,304 | ||||
Citizens Financial Group Inc. | 9,485,376 | 435,094 | ||||
Regions Financial Corp. | 21,407,420 | 432,002 | ||||
Broadridge Financial Solutions Inc. | 2,586,079 | 417,729 | ||||
M&T Bank Corp. | 2,864,936 | 416,304 | ||||
Ally Financial Inc. | 8,255,274 | 411,443 | ||||
Cincinnati Financial Corp. | 3,408,218 | 397,466 |
Shares | Market Value• ($000) | |||||
Principal Financial Group Inc. | 6,057,588 | 382,779 | ||||
MarketAxess Holdings Inc. | 803,546 | 372,516 | ||||
KKR & Co. Inc. | 6,154,210 | 364,575 | ||||
* | Markel Corp. | 306,400 | 363,608 | |||
Raymond James Financial Inc. | 2,754,346 | 357,790 | ||||
* | Arch Capital Group Ltd. | 8,539,180 | 332,516 | |||
Equitable Holdings Inc. | 9,537,528 | 290,418 | ||||
FactSet Research Systems Inc. | 842,912 | 282,890 | ||||
Cboe Global Markets Inc. | 2,375,812 | 282,840 | ||||
Annaly Capital Management Inc. | 31,145,994 | 276,576 | ||||
Loews Corp. | 4,981,647 | 272,247 | ||||
Fidelity National Financial Inc. | 6,115,256 | 265,769 | ||||
Everest Re Group Ltd. | 892,650 | 224,957 | ||||
W R Berkley Corp. | 2,962,399 | 220,491 | ||||
Franklin Resources Inc. | 6,738,194 | 215,555 | ||||
Tradeweb Markets Inc. Class A | 2,334,303 | 197,389 | ||||
Globe Life Inc. | 2,065,011 | 196,692 | ||||
*,1 | Opendoor Technologies Inc. | 9,654,540 | 171,175 | |||
Lincoln National Corp. | 2,014,734 | 126,606 | ||||
Interactive Brokers Group Inc. Class A | 1,820,533 | 119,664 | ||||
AGNC Investment Corp. | 5,843,997 | 98,705 | ||||
* | Alleghany Corp. | 147,316 | 98,270 | |||
SEI Investments Co. | 1,430,285 | 88,635 | ||||
1 | UWM Holdings Corp. | 1,839,392 | 15,543 | |||
17,085,514 | ||||||
Health Care (11.7%) | ||||||
* | IDEXX Laboratories Inc. | 1,899,140 | 1,199,402 | |||
* | IQVIA Holdings Inc. | 4,268,143 | 1,034,256 | |||
* | Veeva Systems Inc. Class A | 3,073,648 | 955,751 | |||
* | Centene Corp. | 12,977,336 | 946,437 | |||
* | Dexcom Inc. | 2,153,578 | 919,578 | |||
ResMed Inc. | 3,240,557 | 798,862 | ||||
* | Laboratory Corp. of America Holdings | 2,174,464 | 599,826 | |||
West Pharmaceutical Services Inc. | 1,643,992 | 590,358 | ||||
Cerner Corp. | 6,709,995 | 524,453 | ||||
* | Teladoc Health Inc. | 3,097,061 | 515,010 | |||
* | Align Technology Inc. | 837,103 | 511,470 | |||
* | Seagen Inc. | 3,031,038 | 478,540 | |||
* | Exact Sciences Corp. | 3,820,360 | 474,909 | |||
* | Horizon Therapeutics plc | 5,005,538 | 468,719 | |||
* | Alexion Pharmaceuticals Inc. | 2,461,061 | 452,122 |
Shares | Market Value• ($000) | |||||
* | Alnylam Pharmaceuticals Inc. | 2,617,675 | 443,748 | |||
STERIS plc | 2,108,500 | 434,984 | ||||
Cooper Cos. Inc. | 1,094,562 | 433,742 | ||||
Teleflex Inc. | 1,040,681 | 418,135 | ||||
* | Insulet Corp. | 1,475,827 | 405,129 | |||
Viatris Inc. | 26,916,611 | ��� 384,638 | ||||
Quest Diagnostics Inc. | 2,909,281 | 383,938 | ||||
* | Hologic Inc. | 5,706,133 | 380,713 | |||
Cardinal Health Inc. | 6,461,424 | 368,883 | ||||
* | Elanco Animal Health Inc. | 10,533,489 | 365,407 | |||
* | Incyte Corp. | 4,162,920 | 350,226 | |||
* | 10X Genomics Inc. Class A | 1,749,063 | 342,502 | |||
* | BioMarin Pharmaceutical Inc. | 4,069,559 | 339,564 | |||
* | ABIOMED Inc. | 1,008,691 | 314,823 | |||
DENTSPLY SIRONA Inc. | 4,861,825 | 307,559 | ||||
Royalty Pharma plc Class A | 6,998,873 | 286,884 | ||||
Universal Health Services Inc. Class B | 1,649,698 | 241,565 | ||||
* | Henry Schein Inc. | 3,133,266 | 232,457 | |||
* | Novocure Ltd. | 978,793 | 217,116 | |||
* | Catalent Inc. | 1,896,461 | 205,045 | |||
* | DaVita Inc. | 1,536,812 | 185,078 | |||
* | Oak Street Health Inc. | 2,678,932 | 156,905 | |||
* | Bio-Rad Laboratories Inc. Class A | 233,851 | 150,668 | |||
* | PPD Inc. | 2,738,428 | 126,214 | |||
* | agilon health Inc. | 1,308,206 | 53,074 | |||
*,1 | GoodRx Holdings Inc. Class A | 1,319,286 | 47,507 | |||
18,046,197 | ||||||
Industrials (14.6%) | ||||||
Carrier Global Corp. | 19,352,604 | 940,537 | ||||
IHS Markit Ltd. | 7,987,576 | 899,880 | ||||
Cintas Corp. | 1,988,579 | 759,637 | ||||
* | TransDigm Group Inc. | 1,161,311 | 751,705 | |||
* | Mettler-Toledo International Inc. | 518,185 | 717,862 | |||
AMETEK Inc. | 5,142,388 | 686,509 | ||||
Equifax Inc. | 2,710,274 | 649,138 | ||||
* | Keysight Technologies Inc. | 4,108,667 | 634,419 | |||
* | Zebra Technologies Corp. Class A | 1,191,667 | 630,976 | |||
Verisk Analytics Inc. | 3,609,666 | 630,681 | ||||
Synchrony Financial | 12,951,770 | 628,420 | ||||
Ball Corp. | 7,309,953 | 592,252 | ||||
Old Dominion Freight Line Inc. | 2,324,191 | 589,880 | ||||
* | Generac Holdings Inc. | 1,401,979 | 582,032 |
Shares | Market Value• ($000) | |||||
Kansas City Southern | 2,025,066 | 573,843 | ||||
Vulcan Materials Co. | 2,954,317 | 514,258 | ||||
* | United Rentals Inc. | 1,611,880 | 514,206 | |||
Fortive Corp. | 7,161,659 | 499,454 | ||||
Martin Marietta Materials Inc. | 1,388,718 | 488,565 | ||||
Dover Corp. | 3,205,073 | 482,684 | ||||
Xylem Inc. | 4,009,352 | 480,962 | ||||
Expeditors International of Washington Inc. | 3,760,784 | 476,115 | ||||
* | FleetCor Technologies Inc. | 1,856,161 | 475,289 | |||
* | Waters Corp. | 1,374,024 | 474,876 | |||
TransUnion | 4,260,203 | 467,813 | ||||
* | Trimble Inc. | 5,588,819 | 457,333 | |||
* | Teledyne Technologies Inc. | 1,036,436 | 434,091 | |||
WW Grainger Inc. | 986,414 | 432,049 | ||||
* | Ingersoll Rand Inc. | 8,407,112 | 410,351 | |||
Otis Worldwide Corp. | 4,778,250 | 390,718 | ||||
Jacobs Engineering Group Inc. | 2,900,021 | 386,921 | ||||
Rockwell Automation Inc. | 1,292,431 | 369,661 | ||||
Textron Inc. | 5,026,605 | 345,680 | ||||
Masco Corp. | 5,652,102 | 332,965 | ||||
Westinghouse Air Brake Technologies Corp. | 3,998,466 | 329,074 | ||||
Westrock Co. | 5,926,432 | 315,405 | ||||
Fortune Brands Home & Security Inc. | 3,086,790 | 307,475 | ||||
Crown Holdings Inc. | 3,004,152 | 307,054 | ||||
JB Hunt Transport Services Inc. | 1,882,531 | 306,758 | ||||
Packaging Corp. of America | 2,115,430 | 286,472 | ||||
CH Robinson Worldwide Inc. | 2,961,316 | 277,386 | ||||
Snap-on Inc. | 1,204,333 | 269,084 | ||||
Western Union Co. | 9,112,860 | 209,322 | ||||
HEICO Corp. Class A | 1,624,524 | 201,733 | ||||
Cognex Corp. | 1,869,293 | 157,114 | ||||
* | XPO Logistics Inc. | 1,080,887 | 151,205 | |||
Jack Henry & Associates Inc. | 827,512 | 135,307 | ||||
HEICO Corp. | 965,702 | 134,638 | ||||
* | Mohawk Industries Inc. | 621,252 | 119,398 | |||
Hubbell Inc. Class B | 604,809 | 113,003 | ||||
*,1 | Affirm Holdings Inc. Class A | 1,148,505 | 77,352 | |||
* | Marqeta Inc. Class A | 1,061,074 | 29,784 | |||
22,429,326 | ||||||
Real Estate (8.6%) | ||||||
Digital Realty Trust Inc. | 6,270,775 | 943,501 |
Shares | Market Value• ($000) | |||||
SBA Communications Corp. | 2,435,044 | 776,049 | ||||
Welltower Inc. | 9,297,929 | 772,658 | ||||
* | CoStar Group Inc. | 8,795,050 | 728,406 | |||
AvalonBay Communities Inc. | 3,108,856 | 648,787 | ||||
Equity Residential | 7,912,237 | 609,242 | ||||
* | CBRE Group Inc. Class A | 7,101,078 | 608,775 | |||
Alexandria Real Estate Equities Inc. | 3,284,832 | 597,642 | ||||
Weyerhaeuser Co. | 16,684,753 | 574,289 | ||||
Realty Income Corp. | 8,317,868 | 555,135 | ||||
Extra Space Storage Inc. | 2,978,075 | 487,868 | ||||
Simon Property Group Inc. | 3,658,143 | 477,314 | ||||
Ventas Inc. | 8,354,086 | 477,018 | ||||
Invitation Homes Inc. | 12,641,667 | 471,408 | ||||
* | Zillow Group Inc. Class C | 3,580,379 | 437,594 | |||
Essex Property Trust Inc. | 1,447,471 | 434,256 | ||||
Mid-America Apartment Communities Inc. | 2,549,512 | 429,389 | ||||
Sun Communities Inc. | 2,490,340 | 426,844 | ||||
Healthpeak Properties Inc. | 12,001,086 | 399,516 | ||||
Duke Realty Corp. | 8,350,485 | 395,395 | ||||
Boston Properties Inc. | 3,128,088 | 358,448 | ||||
UDR Inc. | 6,609,967 | 323,756 | ||||
WP Carey Inc. | 3,963,061 | 295,724 | ||||
Camden Property Trust | 2,175,240 | 288,589 | ||||
Iron Mountain Inc. | 6,430,006 | 272,118 | ||||
* | Host Hotels & Resorts Inc. | 7,866,241 | 134,434 | |||
Regency Centers Corp. | 1,891,989 | 121,220 | ||||
* | Zillow Group Inc. Class A | 985,478 | 120,751 | |||
VEREIT Inc. | 2,552,094 | 117,218 | ||||
13,283,344 | ||||||
Technology (18.6%) | ||||||
* | DocuSign Inc. | 4,116,038 | 1,150,721 | |||
Marvell Technology Inc. | 17,824,245 | 1,039,688 | ||||
* | Synopsys Inc. | 3,397,751 | 937,066 | |||
Microchip Technology Inc. | 6,091,588 | 912,154 | ||||
Amphenol Corp. Class A | 13,307,998 | 910,400 | ||||
* | Match Group Inc. | 5,568,053 | 897,849 | |||
* | Cadence Design Systems Inc. | 6,196,791 | 847,845 | |||
Xilinx Inc. | 5,474,771 | 791,871 | ||||
* | Okta Inc. Class A | 3,194,628 | 781,662 | |||
* | Palo Alto Networks Inc. | 2,060,433 | 764,524 | |||
* | Fortinet Inc. | 3,091,465 | 736,356 |
Shares | Market Value• ($000) | |||||
Skyworks Solutions Inc. | 3,676,557 | 704,980 | ||||
Corning Inc. | 17,063,004 | 697,877 | ||||
* | ANSYS Inc. | 1,940,808 | 673,577 | |||
Maxim Integrated Products Inc. | 5,976,545 | 629,689 | ||||
* | EPAM Systems Inc. | 1,193,320 | 609,739 | |||
* | Twitter Inc. | 8,442,791 | 580,948 | |||
* | HubSpot Inc. | 988,539 | 576,041 | |||
KLA Corp. | 1,706,808 | 553,364 | ||||
CDW Corp. | 3,122,192 | 545,291 | ||||
* | Cloudflare Inc. Class A | 5,136,198 | 543,615 | |||
* | Splunk Inc. | 3,648,652 | 527,522 | |||
* | Datadog Inc. Class A | 4,949,175 | 515,110 | |||
* | RingCentral Inc. Class A | 1,713,272 | 497,843 | |||
Teradyne Inc. | 3,702,759 | 496,022 | ||||
* | Qorvo Inc. | 2,507,373 | 490,568 | |||
* | VeriSign Inc. | 2,131,773 | 485,383 | |||
* | Pinterest Inc. Class A | 6,093,991 | 481,121 | |||
* | Palantir Technologies Inc. Class A | 18,090,762 | 476,872 | |||
* | Slack Technologies Inc. Class A | 10,632,096 | 471,002 | |||
* | Western Digital Corp. | 6,483,363 | 461,421 | |||
* | Gartner Inc. | 1,821,086 | 441,067 | |||
* | Coupa Software Inc. | 1,634,586 | 428,441 | |||
* | Akamai Technologies Inc. | 3,629,759 | 423,230 | |||
Hewlett Packard Enterprise Co. | 28,976,232 | 422,473 | ||||
* | Paycom Software Inc. | 1,139,201 | 414,065 | |||
* | Tyler Technologies Inc. | 907,222 | 410,400 | |||
NetApp Inc. | 4,957,225 | 405,600 | ||||
Seagate Technology Holdings plc | 4,587,229 | 403,355 | ||||
* | Zscaler Inc. | 1,665,044 | 359,749 | |||
SS&C Technologies Holdings Inc. | 4,841,689 | 348,892 | ||||
* | Unity Software Inc. | 3,111,242 | 341,708 | |||
NortonLifeLock Inc. | 12,269,333 | 333,971 | ||||
* | GoDaddy Inc. Class A | 3,736,302 | 324,909 | |||
Citrix Systems Inc. | 2,765,108 | 324,264 | ||||
* | IAC/InterActiveCorp | 1,763,415 | 271,866 | |||
* | Black Knight Inc. | 3,313,360 | 258,376 | |||
* | MongoDB Inc. Class A | 656,855 | 237,466 | |||
1 | Bentley Systems Inc. Class B | 3,542,475 | 229,482 | |||
* | Dropbox Inc. Class A | 6,727,520 | 203,911 | |||
* | Zendesk Inc. | 1,320,818 | 190,647 | |||
* | ON Semiconductor Corp. | 4,752,163 | 181,913 | |||
Monolithic Power Systems Inc. | 483,699 | 180,637 | ||||
* | IPG Photonics Corp. | 776,112 | 163,581 | |||
Leidos Holdings Inc. | 1,573,571 | 159,088 |
Shares | Market Value• ($000) | |||||
* | F5 Networks Inc. | 664,036 | 123,949 | |||
* | ZoomInfo Technologies Inc. Class A | 2,183,380 | 113,907 | |||
* | Vimeo Inc. | 1,449,051 | 71,003 | |||
*,1 | Bumble Inc. Class A | 1,198,788 | 69,050 | |||
*,1 | AppLovin Corp. Class A | 725,516 | 54,537 | |||
* | Qualtrics International Inc. Class A | 600,706 | 22,977 | |||
* | Crowdstrike Holdings Inc. Class A | 21 | 5 | |||
28,702,640 | ||||||
Telecommunications (2.2%) | ||||||
Motorola Solutions Inc. | 3,778,332 | 819,331 | ||||
* | Liberty Broadband Corp. Class C | 3,386,208 | 588,049 | |||
* | Roku Inc. Class A | 1,102,797 | 506,460 | |||
* | Arista Networks Inc. | 1,274,697 | 461,835 | |||
Lumen Technologies Inc. | 24,615,593 | 334,526 | ||||
* | DISH Network Corp. Class A | 5,469,203 | 228,613 | |||
* | Altice USA Inc. Class A | 4,880,534 | 166,621 | |||
Juniper Networks Inc. | 3,648,473 | 99,786 | ||||
* | Liberty Broadband Corp. Class A | 535,853 | 90,114 | |||
Ubiquiti Inc. | 140,145 | 43,752 | ||||
3,339,087 | ||||||
Utilities (5.5%) | ||||||
Waste Connections Inc. | 5,827,752 | 696,008 | ||||
WEC Energy Group Inc. | 7,024,439 | 624,824 | ||||
American Water Works Co. Inc. | 4,041,043 | 622,846 | ||||
Eversource Energy | 7,648,777 | 613,738 | ||||
DTE Energy Co. | 4,314,345 | 559,139 | ||||
Edison International | 8,450,013 | 488,580 | ||||
PPL Corp. | 16,277,667 | 455,286 | ||||
Ameren Corp. | 5,672,925 | 454,061 | ||||
FirstEnergy Corp. | 12,112,566 | 450,709 | ||||
Entergy Corp. | 4,468,754 | 445,535 | ||||
AES Corp. | 14,837,308 | 386,809 | ||||
Consolidated Edison Inc. | 5,334,467 | 382,588 | ||||
CMS Energy Corp. | 6,446,102 | 380,836 | ||||
* | PG&E Corp. | 33,156,036 | 337,197 | |||
CenterPoint Energy Inc. | 12,927,375 | 316,979 | ||||
Alliant Energy Corp. | 5,570,475 | 310,610 | ||||
Evergy Inc. | 5,055,190 | 305,485 | ||||
NiSource Inc. | 8,734,105 | 213,986 | ||||
Vistra Corp. | 9,764,613 | 181,133 | ||||
NRG Energy Inc. | 2,724,897 | 109,813 |
Shares | Market Value• ($000) | |||||
Pinnacle West Capital Corp. | 1,255,360 | 102,902 | ||||
Avangrid Inc. | 1,723,595 | 88,644 | ||||
8,527,708 | ||||||
Total Common Stocks (Cost $87,730,938) | 153,024,446 | |||||
Temporary Cash Investments (1.2%) | ||||||
Money Market Fund (1.2%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 0.056% (Cost $1,832,128) | 18,323,399 | 1,832,340 | |||
Total Investments (100.5%) (Cost $89,563,066) | 154,856,786 | |||||
Other Assets and Liabilities—Net (-0.5%) | (744,529) | |||||
Net Assets (100%) | 154,112,257 |
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 $883,108,000. |
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 $911,072,000 was received for securities on loan, of which $866,001,000 is held in Vanguard Market Liquidity Fund and $45,071,000 is held in cash. |
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 2021 | 130 | 15,001 | (49) |
E-mini S&P 500 Index | September 2021 | 1,742 | 373,537 | 4,178 |
E-mini S&P Mid-Cap 400 Index | September 2021 | 495 | 133,274 | (2,652) |
1,477 |
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) |
Ameren Corp. | 1/31/22 | GSI | 1,292 | (0.082) | — | (83) |
Campbell Soup Co. | 1/31/22 | GSI | 45,370 | (0.082) | 219 | — |
Consolidated Edison Inc. | 8/31/21 | BOANA | 131,308 | (0.636) | — | (8,131) |
Consolidated Edison Inc. | 8/31/21 | BOANA | 46,344 | (0.486) | — | (2,865) |
Hormel Foods Corp. | 1/31/22 | GSI | 21,888 | (0.082) | — | (401) |
Match Group Inc. | 8/31/21 | BOANA | 21,507 | (0.086) | 2,679 | — |
RingCentral Inc. | 8/31/21 | BOANA | 22,310 | (0.586) | 2,379 | — |
Roku Inc. | 8/31/21 | BOANA | 62,408 | (0.086) | 20,253 | — |
State Street Corp. | 8/31/22 | BOANA | 165,262 | (0.586) | — | (8,018) |
Vistra Corp. | 8/31/21 | BOANA | 15,685 | (0.386) | 2,449 | — |
Williams Cos. Inc. | 8/31/21 | BOANA | 52,680 | (0.486) | 1,220 | — |
29,199 | (19,498) |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $87,730,938) | 153,024,446 |
Affiliated Issuers (Cost $1,832,128) | 1,832,340 |
Total Investments in Securities | 154,856,786 |
Investment in Vanguard | 5,256 |
Cash | 45,071 |
Cash Collateral Pledged—Futures Contracts | 26,695 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 70 |
Receivables for Investment Securities Sold | 61,365 |
Receivables for Accrued Income | 144,264 |
Receivables for Capital Shares Issued | 39,953 |
Variation Margin Receivable—Futures Contracts | 724 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 29,199 |
Total Assets | 155,209,383 |
Liabilities | |
Due to Custodian | 60,884 |
Payables for Investment Securities Purchased | 12,903 |
Collateral for Securities on Loan | 911,072 |
Payables for Capital Shares Redeemed | 90,026 |
Payables to Vanguard | 2,743 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 19,498 |
Total Liabilities | 1,097,126 |
Net Assets | 154,112,257 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 91,699,513 |
Total Distributable Earnings (Loss) | 62,412,744 |
Net Assets | 154,112,257 |
Investor Shares—Net Assets | |
Applicable to 12,998,687 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 842,331 |
Net Asset Value Per Share—Investor Shares | $64.80 |
ETF Shares—Net Assets | |
Applicable to 210,218,678 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 49,890,262 |
Net Asset Value Per Share—ETF Shares | $237.33 |
Admiral Shares—Net Assets | |
Applicable to 208,557,859 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 61,304,765 |
Net Asset Value Per Share—Admiral Shares | $293.95 |
Institutional Shares—Net Assets | |
Applicable to 387,734,367 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 25,177,262 |
Net Asset Value Per Share—Institutional Shares | $64.93 |
Institutional Plus Shares—Net Assets | |
Applicable to 52,765,073 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,897,637 |
Net Asset Value Per Share—Institutional Plus Shares | $320.24 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 779,424 |
Interest1 | 361 |
Securities Lending—Net | 6,542 |
Total Income | 786,327 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,990 |
Management and Administrative—Investor Shares | 681 |
Management and Administrative—ETF Shares | 6,847 |
Management and Administrative—Admiral Shares | 12,412 |
Management and Administrative—Institutional Shares | 4,044 |
Management and Administrative—Institutional Plus Shares | 2,013 |
Marketing and Distribution—Investor Shares | 18 |
Marketing and Distribution—ETF Shares | 776 |
Marketing and Distribution—Admiral Shares | 801 |
Marketing and Distribution—Institutional Shares | 259 |
Marketing and Distribution—Institutional Plus Shares | 79 |
Custodian Fees | 96 |
Shareholders’ Reports—Investor Shares | 3 |
Shareholders’ Reports—ETF Shares | 874 |
Shareholders’ Reports—Admiral Shares | 261 |
Shareholders’ Reports—Institutional Shares | 88 |
Shareholders’ Reports—Institutional Plus Shares | 41 |
Trustees’ Fees and Expenses | 20 |
Total Expenses | 31,303 |
Net Investment Income | 755,024 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 5,981,398 |
Futures Contracts | 72,373 |
Swap Contracts | 66,590 |
Realized Net Gain (Loss) | 6,120,361 |
Statement of Operations (continued) | |
Six Months Ended June 30, 2021 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 13,401,964 |
Futures Contracts | (3,711) |
Swap Contracts | (5,445) |
Change in Unrealized Appreciation (Depreciation) | 13,392,808 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 20,268,193 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $359,000, $103,000, and ($104,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $4,595,403,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 755,024 | 1,785,629 | |
Realized Net Gain (Loss) | 6,120,361 | 1,159,065 | |
Change in Unrealized Appreciation (Depreciation) | 13,392,808 | 18,100,382 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 20,268,193 | 21,045,076 | |
Distributions | |||
Investor Shares | (4,410) | (12,175) | |
ETF Shares | (274,613) | (572,413) | |
Admiral Shares | (337,655) | (778,637) | |
Institutional Shares | (140,760) | (329,676) | |
Institutional Plus Shares | (93,644) | (231,416) | |
Total Distributions | (851,082) | (1,924,317) | |
Capital Share Transactions | |||
Investor Shares | (107,190) | (154,201) | |
ETF Shares | 2,184,280 | 5,989,817 | |
Admiral Shares | 191,005 | (1,686,781) | |
Institutional Shares | (350,656) | (1,236,767) | |
Institutional Plus Shares | (173,130) | (649,316) | |
Net Increase (Decrease) from Capital Share Transactions | 1,744,309 | 2,262,752 | |
Total Increase (Decrease) | 21,161,420 | 21,383,511 | |
Net Assets | |||
Beginning of Period | 132,950,837 | 111,567,326 | |
End of Period | 154,112,257 | 132,950,837 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $56.52 | $48.64 | $37.71 | $42.23 | $35.92 | $32.79 |
Investment Operations | ||||||
Net Investment Income | .2821 | .6981 | .5771 | .6401 | .5201 | .472 |
Net Realized and Unrealized Gain (Loss) on Investments | 8.319 | 7.937 | 11.018 | (4.528) | 6.313 | 3.138 |
Total from Investment Operations | 8.601 | 8.635 | 11.595 | (3.888) | 6.833 | 3.610 |
Distributions | ||||||
Dividends from Net Investment Income | (.321) | (.755) | (.665) | (.632) | (.523) | (.480) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.321) | (.755) | (.665) | (.632) | (.523) | (.480) |
Net Asset Value, End of Period | $64.80 | $56.52 | $48.64 | $37.71 | $42.23 | $35.92 |
Total Return2 | 15.25% | 18.10% | 30.86% | -9.34% | 19.12% | 11.07% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $842 | $834 | $877 | $3,043 | $4,047 | $4,138 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.18% |
Ratio of Net Investment Income to Average Net Assets | 0.94% | 1.49% | 1.31% | 1.49% | 1.34% | 1.42% |
Portfolio Turnover Rate3 | 10% | 26% | 15% | 16% | 14% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $207.00 | $178.14 | $138.08 | $154.65 | $131.55 | $120.07 |
Investment Operations | ||||||
Net Investment Income | 1.1761 | 2.7721 | 2.6631 | 2.5351 | 2.1121 | 1.877 |
Net Realized and Unrealized Gain (Loss) on Investments | 30.477 | 29.084 | 40.043 | (16.584) | 23.076 | 11.510 |
Total from Investment Operations | 31.653 | 31.856 | 42.706 | (14.049) | 25.188 | 13.387 |
Distributions | ||||||
Dividends from Net Investment Income | (1.323) | (2.996) | (2.646) | (2.521) | (2.088) | (1.907) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.323) | (2.996) | (2.646) | (2.521) | (2.088) | (1.907) |
Net Asset Value, End of Period | $237.33 | $207.00 | $178.14 | $138.08 | $154.65 | $131.55 |
Total Return | 15.32% | 18.22% | 31.04% | -9.21% | 19.25% | 11.23% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $49,890 | $41,587 | $29,014 | $21,261 | $21,937 | $16,544 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.07% | 1.61% | 1.62% | 1.62% | 1.46% | 1.54% |
Portfolio Turnover Rate2 | 10% | 26% | 15% | 16% | 14% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $256.40 | $220.66 | $171.04 | $191.55 | $162.94 | $148.72 |
Investment Operations | ||||||
Net Investment Income | 1.4411 | 3.4181 | 3.2961 | 3.1351 | 2.6061 | 2.325 |
Net Realized and Unrealized Gain (Loss) on Investments | 37.733 | 36.010 | 49.578 | (20.539) | 28.591 | 14.257 |
Total from Investment Operations | 39.174 | 39.428 | 52.874 | (17.404) | 31.197 | 16.582 |
Distributions | ||||||
Dividends from Net Investment Income | (1.624) | (3.688) | (3.254) | (3.106) | (2.587) | (2.362) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.624) | (3.688) | (3.254) | (3.106) | (2.587) | (2.362) |
Net Asset Value, End of Period | $293.95 | $256.40 | $220.66 | $171.04 | $191.55 | $162.94 |
Total Return2 | 15.31% | 18.24% | 31.03% | -9.23% | 19.25% | 11.22% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $61,305 | $53,301 | $47,640 | $34,754 | $37,778 | $29,854 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.06% | 1.61% | 1.62% | 1.61% | 1.46% | 1.54% |
Portfolio Turnover Rate3 | 10% | 26% | 15% | 16% | 14% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $56.64 | $48.74 | $37.78 | $42.32 | $35.99 | $32.85 |
Investment Operations | ||||||
Net Investment Income | .3211 | .7591 | .7271 | .6971 | .5801 | .516 |
Net Realized and Unrealized Gain (Loss) on Investments | 8.331 | 7.961 | 10.957 | (4.547) | 6.325 | 3.148 |
Total from Investment Operations | 8.652 | 8.720 | 11.684 | (3.850) | 6.905 | 3.664 |
Distributions | ||||||
Dividends from Net Investment Income | (.362) | (.820) | (.724) | (.690) | (.575) | (.524) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.362) | (.820) | (.724) | (.690) | (.575) | (.524) |
Net Asset Value, End of Period | $64.93 | $56.64 | $48.74 | $37.78 | $42.32 | $35.99 |
Total Return | 15.31% | 18.26% | 31.04% | -9.24% | 19.29% | 11.23% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $25,177 | $22,291 | $20,425 | $16,524 | $18,222 | $14,540 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.07% | 1.62% | 1.62% | 1.62% | 1.47% | 1.55% |
Portfolio Turnover Rate2 | 10% | 26% | 15% | 16% | 14% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $279.34 | $240.40 | $186.34 | $208.69 | $177.51 | $162.03 |
Investment Operations | ||||||
Net Investment Income | 1.5981 | 3.7741 | 3.5981 | 3.4641 | 2.8561 | 2.564 |
Net Realized and Unrealized Gain (Loss) on Investments | 41.101 | 39.230 | 54.052 | (22.388) | 31.179 | 15.524 |
Total from Investment Operations | 42.699 | 43.004 | 57.650 | (18.924) | 34.035 | 18.088 |
Distributions | ||||||
Dividends from Net Investment Income | (1.799) | (4.064) | (3.590) | (3.426) | (2.855) | (2.608) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.799) | (4.064) | (3.590) | (3.426) | (2.855) | (2.608) |
Net Asset Value, End of Period | $320.24 | $279.34 | $240.40 | $186.34 | $208.69 | $177.51 |
Total Return | 15.32% | 18.27% | 31.06% | -9.21% | 19.28% | 11.24% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $16,898 | $14,937 | $13,612 | $11,426 | $12,749 | $11,415 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.07% | 1.63% | 1.62% | 1.63% | 1.48% | 1.56% |
Portfolio Turnover Rate2 | 10% | 26% | 15% | 16% | 14% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 153,024,446 | — | — | 153,024,446 |
Temporary Cash Investments | 1,832,340 | — | — | 1,832,340 |
Total | 154,856,786 | — | — | 154,856,786 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 4,178 | — | — | 4,178 |
Swap Contracts | — | 29,199 | — | 29,199 |
Total | 4,178 | 29,199 | — | 33,377 |
Liabilities | ||||
Futures Contracts1 | 2,701 | — | — | 2,701 |
Swap Contracts | — | 19,498 | — | 19,498 |
Total | 2,701 | 19,498 | — | 22,199 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 89,619,343 |
Gross Unrealized Appreciation | 66,496,444 |
Gross Unrealized Depreciation | (1,247,823) |
Net Unrealized Appreciation (Depreciation) | 65,248,621 |
E. | During the six months ended June 30, 2021, the fund purchased $22,310,815,000 of investment securities and sold $20,840,756,000 of investment securities, other than temporary cash investments. Purchases and sales include $8,764,169,000 and $6,933,236,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 35,730 | 585 | 44,080 | 979 | |
Issued in Lieu of Cash Distributions | 4,410 | 72 | 12,175 | 263 | |
Redeemed | (147,330) | (2,417) | (210,456) | (4,509) | |
Net Increase (Decrease)—Investor Shares | (107,190) | (1,760) | (154,201) | (3,267) | |
ETF Shares | |||||
Issued | 9,090,715 | 39,995 | 15,531,899 | 91,028 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (6,906,435) | (30,675) | (9,542,082) | (53,000) | |
Net Increase (Decrease)—ETF Shares | 2,184,280 | 9,320 | 5,989,817 | 38,028 | |
Admiral Shares | |||||
Issued | 4,605,950 | 16,674 | 7,980,693 | 38,938 | |
Issued in Lieu of Cash Distributions | 292,124 | 1,044 | 681,716 | 3,239 | |
Redeemed | (4,707,069) | (17,043) | (10,349,190) | (50,192) | |
Net Increase (Decrease)—Admiral Shares | 191,005 | 675 | (1,686,781) | (8,015) | |
Institutional Shares | |||||
Issued | 2,320,029 | 37,889 | 3,188,268 | 69,770 | |
Issued in Lieu of Cash Distributions | 130,697 | 2,115 | 306,154 | 6,581 | |
Redeemed | (2,801,382) | (45,832) | (4,731,189) | (101,811) | |
Net Increase (Decrease)—Institutional Shares | (350,656) | (5,828) | (1,236,767) | (25,460) | |
Institutional Plus Shares | |||||
Issued | 833,049 | 2,703 | 2,101,329 | 9,035 | |
Issued in Lieu of Cash Distributions | 93,620 | 307 | 229,076 | 1,003 | |
Redeemed | (1,099,799) | (3,719) | (2,979,721) | (13,185) | |
Net Increase (Decrease)—Institutional Plus Shares | (173,130) | (709) | (649,316) | (3,147) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Basic Materials | 1.0% |
Consumer Discretionary | 15.4 |
Consumer Staples | 1.5 |
Energy | 3.0 |
Financials | 5.3 |
Health Care | 16.9 |
Industrials | 17.4 |
Real Estate | 6.6 |
Technology | 30.0 |
Telecommunications | 2.0 |
Utilities | 0.9 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.9%) | ||||||
Basic Materials (1.0%) | ||||||
Fastenal Co. | 3,708,782 | 192,857 | ||||
FMC Corp. | 416,100 | 45,022 | ||||
237,879 | ||||||
Consumer Discretionary (15.4%) | ||||||
* | Chipotle Mexican Grill Inc. | 181,775 | 281,813 | |||
* | Aptiv plc | 1,749,290 | 275,216 | |||
* | Trade Desk Inc. Class A | 2,780,234 | 215,079 | |||
* | Peloton Interactive Inc. Class A | 1,648,738 | 204,477 | |||
* | Copart Inc. | 1,374,930 | 181,257 | |||
* | Etsy Inc. | 820,911 | 168,976 | |||
* | Wayfair Inc. Class A | 476,277 | 150,365 | |||
* | Expedia Group Inc. | 913,456 | 149,542 | |||
* | Lululemon Athletica Inc. | 383,794 | 140,073 | |||
Tractor Supply Co. | 744,242 | 138,474 | ||||
* | Burlington Stores Inc. | 429,711 | 138,363 | |||
* | Caesars Entertainment Inc. | 1,282,329 | 133,042 | |||
* | Take-Two Interactive Software Inc. | 746,849 | 132,207 | |||
* | Ulta Beauty Inc. | 357,713 | 123,686 | |||
Domino's Pizza Inc. | 250,741 | 116,968 | ||||
* | NVR Inc. | 22,311 | 110,959 | |||
* | Lyft Inc. Class A | 1,656,064 | 100,159 | |||
* | DraftKings Inc. Class A | 1,815,477 | 94,713 | |||
* | Wynn Resorts Ltd. | 672,162 | 82,205 | |||
* | LKQ Corp. | 1,658,492 | 81,631 | |||
* | Live Nation Entertainment Inc. | 917,926 | 80,401 | |||
* | Dollar Tree Inc. | 753,130 | 74,936 | |||
* | Royal Caribbean Cruises Ltd. | 700,871 | 59,770 | |||
MGM Resorts International | 1,350,522 | 57,600 | ||||
* | Hilton Worldwide Holdings Inc. | 451,085 | 54,410 | |||
Rollins Inc. | 1,430,043 | 48,908 | ||||
* | Vail Resorts Inc. | 129,982 | 41,142 |
Shares | Market Value• ($000) | |||||
* | Penn National Gaming Inc. | 504,851 | 38,616 | |||
*,1 | Chewy Inc. Class A | 474,296 | 37,806 | |||
1 | Sirius XM Holdings Inc. | 5,291,570 | 34,607 | |||
Warner Music Group Corp. Class A | 603,858 | 21,763 | ||||
*,1 | QuantumScape Corp. Class A | 419,128 | 12,264 | |||
* | Endeavor Group Holdings Inc. Class A | 3,606 | 100 | |||
3,581,528 | ||||||
Consumer Staples (1.5%) | ||||||
McCormick & Co. Inc. (Non-Voting) | 1,607,917 | 142,011 | ||||
Church & Dwight Co. Inc. | 1,583,669 | 134,961 | ||||
Lamb Weston Holdings Inc. | 944,622 | 76,193 | ||||
353,165 | ||||||
Energy (3.0%) | ||||||
Pioneer Natural Resources Co. | 1,417,857 | 230,430 | ||||
* | Cheniere Energy Inc. | 1,473,491 | 127,811 | |||
* | Plug Power Inc. | 3,671,250 | 125,520 | |||
Hess Corp. | 896,241 | 78,260 | ||||
* | Enphase Energy Inc. | 394,266 | 72,399 | |||
Devon Energy Corp. | 2,192,483 | 63,998 | ||||
698,418 | ||||||
Financials (5.2%) | ||||||
MSCI Inc. | 505,624 | 269,538 | ||||
First Republic Bank | 1,138,155 | 213,028 | ||||
* | SVB Financial Group | 350,788 | 195,189 | |||
Broadridge Financial Solutions Inc. | 749,878 | 121,128 | ||||
MarketAxess Holdings Inc. | 233,008 | 108,020 | ||||
FactSet Research Systems Inc. | 244,429 | 82,033 | ||||
Tradeweb Markets Inc. Class A | 677,750 | 57,311 | ||||
* | Markel Corp. | 44,417 | 52,710 | |||
Cboe Global Markets Inc. | 343,349 | 40,876 |
Shares | Market Value• ($000) | |||||
Interactive Brokers Group Inc. Class A | 527,893 | 34,698 | ||||
SEI Investments Co. | 414,962 | 25,715 | ||||
* | Opendoor Technologies Inc. | 1,399,825 | 24,819 | |||
1,225,065 | ||||||
Health Care (16.9%) | ||||||
* | IDEXX Laboratories Inc. | 550,696 | 347,792 | |||
* | IQVIA Holdings Inc. | 1,237,642 | 299,906 | |||
* | Veeva Systems Inc. Class A | 891,305 | 277,151 | |||
* | Centene Corp. | 3,762,997 | 274,435 | |||
* | Dexcom Inc. | 624,481 | 266,653 | |||
ResMed Inc. | 939,666 | 231,647 | ||||
West Pharmaceutical Services Inc. | 476,706 | 171,185 | ||||
Cerner Corp. | 1,945,627 | 152,070 | ||||
* | Teladoc Health Inc. | 898,148 | 149,353 | |||
* | Align Technology Inc. | 242,789 | 148,344 | |||
* | Seagen Inc. | 878,919 | 138,764 | |||
* | Exact Sciences Corp. | 1,107,829 | 137,714 | |||
* | Horizon Therapeutics plc | 1,453,752 | 136,129 | |||
* | Alnylam Pharmaceuticals Inc. | 759,063 | 128,676 | |||
Cooper Cos. Inc. | 317,389 | 125,772 | ||||
Teleflex Inc. | 301,779 | 121,252 | ||||
* | Insulet Corp. | 427,955 | 117,478 | |||
* | Incyte Corp. | 1,207,117 | 101,555 | |||
* | 10X Genomics Inc. Class A | 508,043 | 99,485 | |||
* | BioMarin Pharmaceutical Inc. | 1,180,072 | 98,465 | |||
* | ABIOMED Inc. | 292,494 | 91,290 | |||
STERIS plc | 306,200 | 63,169 | ||||
* | Novocure Ltd. | 284,716 | 63,156 | |||
* | Catalent Inc. | 549,994 | 59,465 | |||
* | Oak Street Health Inc. | 777,424 | 45,534 | |||
* | Bio-Rad Laboratories Inc. Class A | 67,765 | 43,660 | |||
* | PPD Inc. | 793,747 | 36,584 | |||
*,1 | GoodRx Holdings Inc. Class A | 382,217 | 13,764 | |||
3,940,448 | ||||||
Industrials (17.4%) | ||||||
IHS Markit Ltd. | 2,316,143 | 260,937 | ||||
Cintas Corp. | 576,622 | 220,270 | ||||
* | TransDigm Group Inc. | 336,743 | 217,970 | |||
* | Mettler-Toledo International Inc. | 150,253 | 208,151 | |||
AMETEK Inc. | 1,491,155 | 199,069 | ||||
Equifax Inc. | 785,889 | 188,228 | ||||
* | Zebra Technologies Corp. Class A | 345,550 | 182,965 | |||
Verisk Analytics Inc. | 1,046,673 | 182,875 | ||||
Old Dominion Freight Line Inc. | 673,933 | 171,044 |
Shares | Market Value• ($000) | |||||
* | Generac Holdings Inc. | 407,178 | 169,040 | |||
Kansas City Southern | 587,208 | 166,397 | ||||
Vulcan Materials Co. | 856,678 | 149,122 | ||||
Martin Marietta Materials Inc. | 402,682 | 141,667 | ||||
Xylem Inc. | 1,162,607 | 139,466 | ||||
Expeditors International of Washington Inc. | 1,090,570 | 138,066 | ||||
* | FleetCor Technologies Inc. | 538,224 | 137,818 | |||
* | Waters Corp. | 398,422 | 137,699 | |||
TransUnion | 1,235,323 | 135,651 | ||||
* | Trimble Inc. | 1,620,624 | 132,616 | |||
* | Teledyne Technologies Inc. | 301,012 | 126,073 | |||
Masco Corp. | 1,638,748 | 96,539 | ||||
Westinghouse Air Brake Technologies Corp. | 1,159,425 | 95,421 | ||||
JB Hunt Transport Services Inc. | 545,883 | 88,952 | ||||
Ball Corp. | 1,059,844 | 85,869 | ||||
HEICO Corp. Class A | 471,014 | 58,490 | ||||
Cognex Corp. | 541,708 | 45,531 | ||||
Fortune Brands Home & Security Inc. | 447,497 | 44,575 | ||||
Jack Henry & Associates Inc. | 239,815 | 39,212 | ||||
HEICO Corp. | 280,062 | 39,046 | ||||
*,1 | Affirm Holdings Inc. Class A | 334,082 | 22,500 | |||
* | XPO Logistics Inc. | 156,737 | 21,926 | |||
* | Marqeta Inc. Class A | 315,417 | 8,854 | |||
4,052,039 | ||||||
Real Estate (6.6%) | ||||||
Digital Realty Trust Inc. | 1,818,363 | 273,591 | ||||
SBA Communications Corp. | 706,080 | 225,028 | ||||
* | CoStar Group Inc. | 2,550,273 | 211,214 | |||
Alexandria Real Estate Equities Inc. | 952,722 | 173,338 | ||||
Extra Space Storage Inc. | 863,594 | 141,474 | ||||
Invitation Homes Inc. | 3,665,596 | 136,690 | ||||
* | Zillow Group Inc. Class C | 1,046,323 | 127,881 | |||
Sun Communities Inc. | 722,129 | 123,773 | ||||
Realty Income Corp. | 1,205,978 | 80,487 | ||||
* | Zillow Group Inc. Class A | 277,754 | 34,033 | |||
Regency Centers Corp. | 273,357 | 17,514 | ||||
1,545,023 | ||||||
Technology (30.0%) | ||||||
* | DocuSign Inc. | 1,193,675 | 333,716 | |||
Marvell Technology Inc. | 5,168,448 | 301,476 | ||||
* | Synopsys Inc. | 985,257 | 271,724 | |||
* | Match Group Inc. | 1,658,101 | 267,369 | |||
Microchip Technology Inc. | 1,766,424 | 264,504 | ||||
Amphenol Corp. Class A | 3,859,047 | 263,997 |
Shares | Market Value• ($000) | |||||
* | Cadence Design Systems Inc. | 1,796,875 | 245,848 | |||
Xilinx Inc. | 1,587,528 | 229,620 | ||||
* | Okta Inc. Class A | 926,799 | 226,769 | |||
* | Palo Alto Networks Inc. | 597,458 | 221,687 | |||
* | Fortinet Inc. | 896,421 | 213,519 | |||
Skyworks Solutions Inc. | 1,066,082 | 204,421 | ||||
* | ANSYS Inc. | 562,793 | 195,323 | |||
* | EPAM Systems Inc. | 346,031 | 176,808 | |||
* | Twitter Inc. | 2,448,091 | 168,453 | |||
* | HubSpot Inc. | 286,656 | 167,040 | |||
KLA Corp. | 494,907 | 160,454 | ||||
* | Cloudflare Inc. Class A | 1,489,703 | 157,670 | |||
* | Splunk Inc. | 1,058,047 | 152,972 | |||
* | RingCentral Inc. Class A | 521,450 | 151,523 | |||
* | Datadog Inc. Class A | 1,435,347 | 149,391 | |||
Teradyne Inc. | 1,073,652 | 143,826 | ||||
* | VeriSign Inc. | 618,143 | 140,745 | |||
* | Pinterest Inc. Class A | 1,767,155 | 139,517 | |||
* | Palantir Technologies Inc. Class A | 5,258,821 | 138,623 | |||
* | Slack Technologies Inc. Class A | 3,082,961 | 136,575 | |||
* | Gartner Inc. | 527,997 | 127,881 | |||
* | Coupa Software Inc. | 474,007 | 124,242 | |||
* | Akamai Technologies Inc. | 1,052,514 | 122,723 | |||
* | Paycom Software Inc. | 330,338 | 120,068 | |||
* | Tyler Technologies Inc. | 263,071 | 119,005 | |||
* | Zscaler Inc. | 482,824 | 104,319 | |||
SS&C Technologies Holdings Inc. | 1,403,889 | 101,164 | ||||
* | Unity Software Inc. | 902,229 | 99,092 | |||
* | GoDaddy Inc. Class A | 1,083,372 | 94,210 | |||
Citrix Systems Inc. | 801,818 | 94,029 | ||||
* | IAC/InterActiveCorp | 511,308 | 78,828 | |||
* | Black Knight Inc. | 960,752 | 74,920 | |||
* | MongoDB Inc. Class A | 190,510 | 68,873 | |||
Bentley Systems Inc. Class B | 1,030,474 | 66,754 | ||||
* | Dropbox Inc. Class A | 1,950,808 | 59,129 | |||
* | Zendesk Inc. | 383,097 | 55,296 | |||
* | ON Semiconductor Corp. | 1,378,912 | 52,785 | |||
Monolithic Power Systems Inc. | 140,360 | 52,418 | ||||
* | IPG Photonics Corp. | 224,888 | 47,400 | |||
* | ZoomInfo Technologies Inc. Class A | 633,277 | 33,038 |
Shares | Market Value• ($000) | |||||
* | Vimeo Inc. | 419,185 | 20,540 | |||
* | Bumble Inc. Class A | 348,039 | 20,047 | |||
* | AppLovin Corp. Class A | 210,176 | 15,799 | |||
* | Qualtrics International Inc. Class A | 174,106 | 6,660 | |||
6,982,790 | ||||||
Telecommunications (2.0%) | ||||||
* | Roku Inc. Class A | 371,986 | 170,835 | |||
* | Arista Networks Inc. | 369,640 | 133,924 | |||
* | Liberty Broadband Corp. Class C | 491,422 | 85,340 | |||
* | Altice USA Inc. Class A | 1,415,365 | 48,321 | |||
* | Liberty Broadband Corp. Class A | 77,038 | 12,955 | |||
Ubiquiti Inc. | 40,628 | 12,684 | ||||
464,059 | ||||||
Utilities (0.9%) | ||||||
Waste Connections Inc. | 1,689,805 | 201,813 | ||||
Total Common Stocks (Cost $14,133,843) | 23,282,227 | |||||
Temporary Cash Investments (0.2%) | ||||||
Money Market Fund (0.2%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 0.056% (Cost $47,070) | 470,716 | 47,072 | |||
Total Investments (100.1%) (Cost $14,180,913) | 23,329,299 | |||||
Other Assets and Liabilities—Net (-0.1%) | (20,978) | |||||
Net Assets (100%) | 23,308,321 |
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 $28,607,000. |
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 $30,083,000 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 2021 | 96 | 20,585 | 55 |
E-mini S&P Mid-Cap 400 Index | September 2021 | 55 | 14,808 | (194) |
(139) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $14,133,843) | 23,282,227 |
Affiliated Issuers (Cost $47,070) | 47,072 |
Total Investments in Securities | 23,329,299 |
Investment in Vanguard | 768 |
Cash Collateral Pledged—Futures Contracts | 1,316 |
Receivables for Investment Securities Sold | 12,109 |
Receivables for Accrued Income | 5,201 |
Receivables for Capital Shares Issued | 18,638 |
Variation Margin Receivable—Futures Contracts | 35 |
Total Assets | 23,367,366 |
Liabilities | |
Due to Custodian | 11,859 |
Payables for Investment Securities Purchased | 2,002 |
Collateral for Securities on Loan | 30,083 |
Payables for Capital Shares Redeemed | 14,437 |
Payables to Vanguard | 664 |
Total Liabilities | 59,045 |
Net Assets | 23,308,321 |
At June 30, 2021, net assets consisted of: | |
Paid-in Capital | 13,928,804 |
Total Distributable Earnings (Loss) | 9,379,517 |
Net Assets | 23,308,321 |
Investor Shares—Net Assets | |
Applicable to 894,610 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 83,121 |
Net Asset Value Per Share—Investor Shares | $92.91 |
ETF Shares—Net Assets | |
Applicable to 47,645,978 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,257,786 |
Net Asset Value Per Share—ETF Shares | $236.28 |
Admiral Shares—Net Assets | |
Applicable to 117,662,897 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,967,414 |
Net Asset Value Per Share—Admiral Shares | $101.71 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 39,368 |
Interest1 | 7 |
Securities Lending—Net | 825 |
Total Income | 40,200 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,179 |
Management and Administrative—Investor Shares | 69 |
Management and Administrative—ETF Shares | 2,642 |
Management and Administrative—Admiral Shares | 3,029 |
Marketing and Distribution—Investor Shares | 2 |
Marketing and Distribution—ETF Shares | 168 |
Marketing and Distribution—Admiral Shares | 185 |
Custodian Fees | 29 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 264 |
Shareholders’ Reports—Admiral Shares | 63 |
Trustees’ Fees and Expenses | 3 |
Total Expenses | 7,633 |
Net Investment Income | 32,567 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 1,483,682 |
Futures Contracts | 2,538 |
Realized Net Gain (Loss) | 1,486,220 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 884,574 |
Futures Contracts | (459) |
Change in Unrealized Appreciation (Depreciation) | 884,115 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,402,902 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $7,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $1,325,942,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 32,567 | 103,809 | |
Realized Net Gain (Loss) | 1,486,220 | 651,931 | |
Change in Unrealized Appreciation (Depreciation) | 884,115 | 4,547,237 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,402,902 | 5,302,977 | |
Distributions | |||
Investor Shares | (80) | (369) | |
ETF Shares | (16,749) | (54,537) | |
Admiral Shares | (17,929) | (59,779) | |
Total Distributions | (34,758) | (114,685) | |
Capital Share Transactions | |||
Investor Shares | (6,547) | (1,935) | |
ETF Shares | (32,901) | 649,823 | |
Admiral Shares | 22,855 | (111,739) | |
Net Increase (Decrease) from Capital Share Transactions | (16,593) | 536,149 | |
Total Increase (Decrease) | 2,351,551 | 5,724,441 | |
Net Assets | |||
Beginning of Period | 20,956,770 | 15,232,329 | |
End of Period | 23,308,321 | 20,956,770 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $83.37 | $62.43 | $47.02 | $50.21 | $41.52 | $39.22 |
Investment Operations | ||||||
Net Investment Income | .0791 | .3401 | .3451 | .3331 | .3041 | .290 |
Net Realized and Unrealized Gain (Loss) on Investments | 9.547 | 20.984 | 15.485 | (3.193) | 8.692 | 2.299 |
Total from Investment Operations | 9.626 | 21.324 | 15.830 | (2.860) | 8.996 | 2.589 |
Distributions | ||||||
Dividends from Net Investment Income | (.086) | (.384) | (.420) | (.330) | (.306) | (.289) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.086) | (.384) | (.420) | (.330) | (.306) | (.289) |
Net Asset Value, End of Period | $92.91 | $83.37 | $62.43 | $47.02 | $50.21 | $41.52 |
Total Return2 | 11.55% | 34.32% | 33.72% | -5.74% | 21.72% | 6.62% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $83 | $81 | $63 | $405 | $495 | $460 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 0.19% | 0.51% | 0.62% | 0.64% | 0.67% | 0.74% |
Portfolio Turnover Rate3 | 15% | 22% | 18% | 25% | 23% | 21% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $212.00 | $158.76 | $119.58 | $127.67 | $105.60 | $99.75 |
Investment Operations | ||||||
Net Investment Income | .3271 | 1.0741 | 1.3861 | 1.0161 | .9321 | .863 |
Net Realized and Unrealized Gain (Loss) on Investments | 24.306 | 53.347 | 39.040 | (8.101) | 22.058 | 5.848 |
Total from Investment Operations | 24.633 | 54.421 | 40.426 | (7.085) | 22.990 | 6.711 |
Distributions | ||||||
Dividends from Net Investment Income | (.353) | (1.181) | (1.246) | (1.005) | (.920) | (.861) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.353) | (1.181) | (1.246) | (1.005) | (.920) | (.861) |
Net Asset Value, End of Period | $236.28 | $212.00 | $158.76 | $119.58 | $127.67 | $105.60 |
Total Return | 11.63% | 34.46% | 33.86% | -5.60% | 21.83% | 6.75% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,258 | $10,164 | $6,995 | $4,956 | $5,130 | $3,576 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.31% | 0.63% | 0.95% | 0.76% | 0.79% | 0.86% |
Portfolio Turnover Rate2 | 15% | 22% | 18% | 25% | 23% | 21% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $91.26 | $68.34 | $51.48 | $54.96 | $45.46 | $42.94 |
Investment Operations | ||||||
Net Investment Income | .1421 | .4611 | .6031 | .4371 | .4001 | .370 |
Net Realized and Unrealized Gain (Loss) on Investments | 10.460 | 22.967 | 16.793 | (3.485) | 9.496 | 2.519 |
Total from Investment Operations | 10.602 | 23.428 | 17.396 | (3.048) | 9.896 | 2.889 |
Distributions | ||||||
Dividends from Net Investment Income | (.152) | (.508) | (.536) | (.432) | (.396) | (.369) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.152) | (.508) | (.536) | (.432) | (.396) | (.369) |
Net Asset Value, End of Period | $101.71 | $91.26 | $68.34 | $51.48 | $54.96 | $45.46 |
Total Return2 | 11.63% | 34.48% | 33.86% | -5.60% | 21.83% | 6.75% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,967 | $10,712 | $8,173 | $5,544 | $5,659 | $3,923 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.31% | 0.63% | 0.96% | 0.76% | 0.79% | 0.86% |
Portfolio Turnover Rate3 | 15% | 22% | 18% | 25% | 23% | 21% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 14,186,924 |
Gross Unrealized Appreciation | 9,346,083 |
Gross Unrealized Depreciation | (203,847) |
Net Unrealized Appreciation (Depreciation) | 9,142,236 |
E. | During the six months ended June 30, 2021, the fund purchased $5,496,047,000 of investment securities and sold $5,512,682,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,962,373,000 and $2,157,227,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 8,113 | 94 | 18,844 | 279 | |
Issued in Lieu of Cash Distributions | 80 | 1 | 369 | 6 | |
Redeemed | (14,740) | (170) | (21,148) | (332) | |
Net Increase (Decrease)—Investor Shares | (6,547) | (75) | (1,935) | (47) | |
ETF Shares | |||||
Issued | 2,138,449 | 9,652 | 2,610,129 | 14,482 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,171,350) | (9,950) | (1,960,306) | (10,600) | |
Net Increase (Decrease)—ETF Shares | (32,901) | (298) | 649,823 | 3,882 |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 1,335,130 | 14,135 | 2,288,238 | 31,674 | |
Issued in Lieu of Cash Distributions | 16,045 | 169 | 53,622 | 742 | |
Redeemed | (1,328,320) | (14,014) | (2,453,599) | (34,639) | |
Net Increase (Decrease)—Admiral Shares | 22,855 | 290 | (111,739) | (2,223) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Basic Materials | 5.7% |
Consumer Discretionary | 16.2 |
Consumer Staples | 6.5 |
Energy | 5.7 |
Financials | 17.7 |
Health Care | 6.1 |
Industrials | 11.5 |
Real Estate | 10.8 |
Technology | 6.4 |
Telecommunications | 2.5 |
Utilities | 10.9 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.9%) | ||||||
Basic Materials (5.7%) | ||||||
International Flavors & Fragrances Inc. | 2,022,136 | 302,107 | ||||
Nucor Corp. | 2,430,967 | 233,203 | ||||
International Paper Co. | 3,182,368 | 195,111 | ||||
Albemarle Corp. | 948,216 | 159,736 | ||||
Avery Dennison Corp. | 674,344 | 141,774 | ||||
Celanese Corp. | 915,002 | 138,714 | ||||
Eastman Chemical Co. | 1,109,021 | 129,478 | ||||
LyondellBasell Industries NV Class A | 1,086,427 | 111,761 | ||||
FMC Corp. | 523,454 | 56,638 | ||||
CF Industries Holdings Inc. | 871,362 | 44,832 | ||||
Westlake Chemical Corp. | 130,005 | 11,712 | ||||
1,525,066 | ||||||
Consumer Discretionary (16.1%) | ||||||
DR Horton Inc. | 2,635,604 | 238,179 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 4,007,258 | 227,131 | |||
* | Delta Air Lines Inc. | 5,196,230 | 224,789 | |||
Lennar Corp. Class A | 2,239,896 | 222,534 | ||||
ViacomCBS Inc. Class B | 4,683,568 | 211,697 | ||||
Best Buy Co. Inc. | 1,830,730 | 210,497 | ||||
Garmin Ltd. | 1,248,730 | 180,616 | ||||
* | Carnival Corp. | 6,722,508 | 177,205 | |||
* | CarMax Inc. | 1,325,381 | 171,173 | |||
Darden Restaurants Inc. | 1,062,953 | 155,180 | ||||
Genuine Parts Co. | 1,173,668 | 148,434 | ||||
Omnicom Group Inc. | 1,747,738 | 139,802 | ||||
* | United Airlines Holdings Inc. | 2,628,678 | 137,454 | |||
* | AutoZone Inc. | 89,510 | 133,569 | |||
* | Southwest Airlines Co. | 2,402,002 | 127,522 | |||
Whirlpool Corp. | 508,748 | 110,917 | ||||
PulteGroup Inc. | 2,029,430 | 110,746 | ||||
Advance Auto Parts Inc. | 531,555 | 109,043 | ||||
Hasbro Inc. | 1,061,728 | 100,354 |
Shares | Market Value• ($000) | |||||
Fox Corp. Class A | 2,645,028 | 98,210 | ||||
News Corp. Class A | 3,726,961 | 96,044 | ||||
BorgWarner Inc. | 1,948,428 | 94,577 | ||||
* | Dollar Tree Inc. | 950,498 | 94,575 | |||
* | Royal Caribbean Cruises Ltd. | 878,944 | 74,956 | |||
* | Discovery Inc. Class C | 2,548,683 | 73,861 | |||
MGM Resorts International | 1,693,762 | 72,239 | ||||
* | Hilton Worldwide Holdings Inc. | 565,707 | 68,236 | |||
L Brands Inc. | 906,343 | 65,311 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 1,263,356 | 58,607 | |||
* | American Airlines Group Inc. | 2,605,324 | 55,259 | |||
Interpublic Group of Cos. Inc. | 1,598,833 | 51,946 | ||||
*,1 | GameStop Corp. Class A | 241,345 | 51,682 | |||
Fox Corp. Class B | 1,246,720 | 43,885 | ||||
Lear Corp. | 244,257 | 42,813 | ||||
*,1 | Discovery Inc. Class A | 1,301,134 | 39,919 | |||
Aramark | 1,035,619 | 38,577 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 549,672 | 25,604 | |||
*,1 | QuantumScape Corp. Class A | 527,608 | 15,438 | |||
Lennar Corp. Class B | 122,627 | 9,988 | ||||
News Corp. Class B | 378,120 | 9,207 | ||||
ViacomCBS Inc. Class A | 73,280 | 3,550 | ||||
* | Endeavor Group Holdings Inc. Class A | 4,229 | 117 | |||
4,321,443 | ||||||
Consumer Staples (6.5%) | ||||||
Corteva Inc. | 5,997,895 | 266,007 | ||||
Clorox Co. | 1,010,381 | 181,778 | ||||
Tyson Foods Inc. Class A | 2,394,660 | 176,630 | ||||
Conagra Brands Inc. | 3,899,065 | 141,848 |
Shares | Market Value• ($000) | |||||
Archer-Daniels-Midland Co. | 2,269,468 | 137,530 | ||||
AmerisourceBergen Corp. | 1,168,089 | 133,734 | ||||
Kellogg Co. | 2,074,535 | 133,455 | ||||
McKesson Corp. | 642,531 | 122,878 | ||||
J M Smucker Co. | 845,771 | 109,586 | ||||
Kroger Co. | 2,767,720 | 106,031 | ||||
Hormel Foods Corp. | 2,194,054 | 104,766 | ||||
Campbell Soup Co. | 1,600,021 | 72,945 | ||||
* | Molson Coors Beverage Co. Class B | 733,150 | 39,363 | |||
1,726,551 | ||||||
Energy (5.7%) | ||||||
Valero Energy Corp. | 3,320,602 | 259,273 | ||||
Occidental Petroleum Corp. | 7,203,742 | 225,261 | ||||
ONEOK Inc. | 3,619,420 | 201,384 | ||||
Marathon Petroleum Corp. | 2,650,962 | 160,171 | ||||
Halliburton Co. | 6,866,346 | 158,750 | ||||
Phillips 66 | 1,778,522 | 152,633 | ||||
Baker Hughes Co. | 5,972,075 | 136,581 | ||||
Williams Cos. Inc. | 4,934,125 | 131,001 | ||||
Hess Corp. | 1,127,533 | 98,456 | ||||
1,523,510 | ||||||
Financials (17.7%) | ||||||
Discover Financial Services | 2,476,781 | 292,978 | ||||
Willis Towers Watson plc | 1,047,764 | 241,007 | ||||
Arthur J Gallagher & Co. | 1,675,401 | 234,690 | ||||
Ameriprise Financial Inc. | 941,596 | 234,344 | ||||
State Street Corp. | 2,683,889 | 220,830 | ||||
Fifth Third Bancorp | 5,718,882 | 218,633 | ||||
Northern Trust Corp. | 1,606,338 | 185,725 | ||||
Hartford Financial Services Group Inc. | 2,901,750 | 179,821 | ||||
Huntington Bancshares Inc. | 11,994,020 | 171,155 | ||||
American International Group Inc. | 3,485,704 | 165,920 | ||||
Nasdaq Inc. | 933,128 | 164,044 | ||||
KeyCorp | 7,884,166 | 162,808 | ||||
Citizens Financial Group Inc. | 3,460,147 | 158,717 | ||||
Regions Financial Corp. | 7,809,275 | 157,591 | ||||
M&T Bank Corp. | 1,045,113 | 151,865 | ||||
Ally Financial Inc. | 3,011,352 | 150,086 | ||||
Cincinnati Financial Corp. | 1,243,281 | 144,991 | ||||
Principal Financial Group Inc. | 2,209,674 | 139,629 | ||||
KKR & Co. Inc. | 2,244,961 | 132,992 |
Shares | Market Value• ($000) | |||||
Raymond James Financial Inc. | 1,004,794 | 130,523 | ||||
* | Arch Capital Group Ltd. | 3,114,946 | 121,296 | |||
Equitable Holdings Inc. | 3,479,464 | 105,950 | ||||
Annaly Capital Management Inc. | 11,360,469 | 100,881 | ||||
Loews Corp. | 1,817,262 | 99,313 | ||||
Fidelity National Financial Inc. | 2,230,704 | 96,946 | ||||
Everest Re Group Ltd. | 325,624 | 82,061 | ||||
W R Berkley Corp. | 1,080,728 | 80,439 | ||||
Franklin Resources Inc. | 2,458,168 | 78,637 | ||||
Globe Life Inc. | 753,460 | 71,767 | ||||
* | Markel Corp. | 55,883 | 66,317 | |||
Cboe Global Markets Inc. | 433,350 | 51,590 | ||||
Lincoln National Corp. | 734,654 | 46,166 | ||||
AGNC Investment Corp. | 2,131,968 | 36,009 | ||||
* | Alleghany Corp. | 53,744 | 35,851 | |||
* | Opendoor Technologies Inc. | 1,759,894 | 31,203 | |||
1 | UWM Holdings Corp. | 669,222 | 5,655 | |||
4,748,430 | ||||||
Health Care (6.1%) | ||||||
* | Laboratory Corp. of America Holdings | 793,205 | 218,806 | |||
* | Alexion Pharmaceuticals Inc. | 897,785 | 164,932 | |||
Viatris Inc. | 9,818,864 | 140,312 | ||||
Quest Diagnostics Inc. | 1,061,250 | 140,053 | ||||
* | Hologic Inc. | 2,081,558 | 138,882 | |||
Cardinal Health Inc. | 2,357,032 | 134,563 | ||||
* | Elanco Animal Health Inc. | 3,842,524 | 133,297 | |||
DENTSPLY SIRONA Inc. | 1,773,586 | 112,197 | ||||
Royalty Pharma plc Class A | 2,553,140 | 104,653 | ||||
Universal Health Services Inc. Class B | 601,761 | 88,116 | ||||
* | Henry Schein Inc. | 1,142,977 | 84,797 | |||
STERIS plc | 384,601 | 79,343 | ||||
* | DaVita Inc. | 560,773 | 67,534 | |||
* | agilon health Inc. | 476,414 | 19,328 | |||
1,626,813 | ||||||
Industrials (11.5%) | ||||||
Carrier Global Corp. | 7,059,491 | 343,091 | ||||
* | Keysight Technologies Inc. | 1,498,845 | 231,437 | |||
Synchrony Financial | 4,724,630 | 229,239 | ||||
* | United Rentals Inc. | 587,987 | 187,574 | |||
Fortive Corp. | 2,612,490 | 182,195 | ||||
Dover Corp. | 1,169,173 | 176,077 | ||||
WW Grainger Inc. | 359,822 | 157,602 | ||||
* | Ingersoll Rand Inc. | 3,066,817 | 149,691 |
Shares | Market Value• ($000) | |||||
Otis Worldwide Corp. | 1,743,067 | 142,531 | ||||
Jacobs Engineering Group Inc. | 1,057,877 | 141,142 | ||||
Rockwell Automation Inc. | 471,476 | 134,852 | ||||
Textron Inc. | 1,833,650 | 126,100 | ||||
Westrock Co. | 2,161,916 | 115,057 | ||||
Crown Holdings Inc. | 1,095,856 | 112,007 | ||||
Ball Corp. | 1,333,247 | 108,020 | ||||
Packaging Corp. of America | 771,685 | 104,502 | ||||
CH Robinson Worldwide Inc. | 1,080,312 | 101,193 | ||||
Snap-on Inc. | 439,331 | 98,160 | ||||
Western Union Co. | 3,324,621 | 76,366 | ||||
Fortune Brands Home & Security Inc. | 562,994 | 56,080 | ||||
* | Mohawk Industries Inc. | 226,527 | 43,536 | |||
Hubbell Inc. Class B | 220,621 | 41,221 | ||||
* | XPO Logistics Inc. | 197,167 | 27,582 | |||
* | Marqeta Inc. Class A | 7,812 | 219 | |||
3,085,474 | ||||||
Real Estate (10.8%) | ||||||
Welltower Inc. | 3,391,790 | 281,858 | ||||
AvalonBay Communities Inc. | 1,134,084 | 236,672 | ||||
Equity Residential | 2,886,322 | 222,247 | ||||
* | CBRE Group Inc. Class A | 2,590,523 | 222,085 | |||
Weyerhaeuser Co. | 6,086,415 | 209,494 | ||||
Simon Property Group Inc. | 1,334,440 | 174,118 | ||||
Ventas Inc. | 3,047,492 | 174,012 | ||||
Essex Property Trust Inc. | 528,028 | 158,414 | ||||
Mid-America Apartment Communities Inc. | 930,070 | 156,642 | ||||
Healthpeak Properties Inc. | 4,377,975 | 145,743 | ||||
Duke Realty Corp. | 3,046,306 | 144,243 | ||||
Boston Properties Inc. | 1,141,100 | 130,759 | ||||
UDR Inc. | 2,411,328 | 118,107 | ||||
WP Carey Inc. | 1,445,652 | 107,874 | ||||
Camden Property Trust | 793,552 | 105,280 | ||||
Realty Income Corp. | 1,517,099 | 101,251 | ||||
Iron Mountain Inc. | 2,345,595 | 99,265 | ||||
* | Host Hotels & Resorts Inc. | 2,868,110 | 49,016 | |||
VEREIT Inc. | 930,740 | 42,749 | ||||
Regency Centers Corp. | 345,055 | 22,108 | ||||
2,901,937 | ||||||
Technology (6.4%) | ||||||
Corning Inc. | 6,224,488 | 254,582 | ||||
Maxim Integrated Products Inc. | 2,180,101 | 229,695 |
Shares | Market Value• ($000) | |||||
CDW Corp. | 1,138,969 | 198,921 | ||||
* | Qorvo Inc. | 914,622 | 178,946 | |||
* | Western Digital Corp. | 2,365,067 | 168,322 | |||
Hewlett Packard Enterprise Co. | 10,570,077 | 154,112 | ||||
NetApp Inc. | 1,808,378 | 147,962 | ||||
Seagate Technology Holdings plc | 1,673,393 | 147,141 | ||||
NortonLifeLock Inc. | 4,475,871 | 121,833 | ||||
Leidos Holdings Inc. | 574,422 | 58,074 | ||||
* | F5 Networks Inc. | 242,159 | 45,201 | |||
1,704,789 | ||||||
Telecommunications (2.5%) | ||||||
Motorola Solutions Inc. | 1,378,337 | 298,892 | ||||
Lumen Technologies Inc. | 8,979,538 | 122,032 | ||||
* | Liberty Broadband Corp. Class C | 616,114 | 106,994 | |||
* | DISH Network Corp. Class A | 1,995,244 | 83,401 | |||
Juniper Networks Inc. | 1,331,213 | 36,409 | ||||
* | Liberty Broadband Corp. Class A | 99,398 | 16,716 | |||
664,444 | ||||||
Utilities (10.9%) | ||||||
WEC Energy Group Inc. | 2,562,405 | 227,926 | ||||
American Water Works Co. Inc. | 1,474,130 | 227,208 | ||||
Eversource Energy | 2,790,156 | 223,882 | ||||
DTE Energy Co. | 1,573,787 | 203,963 | ||||
Consolidated Edison Inc. | 2,784,819 | 199,727 | ||||
Edison International | 3,082,409 | 178,225 | ||||
PPL Corp. | 5,937,805 | 166,080 | ||||
Ameren Corp. | 2,074,837 | 166,070 | ||||
FirstEnergy Corp. | 4,418,516 | 164,413 | ||||
Entergy Corp. | 1,630,075 | 162,519 | ||||
AES Corp. | 5,412,567 | 141,106 | ||||
CMS Energy Corp. | 2,351,435 | 138,923 | ||||
* | PG&E Corp. | 12,094,912 | 123,005 | |||
CenterPoint Energy Inc. | 4,715,756 | 115,630 | ||||
Alliant Energy Corp. | 2,032,094 | 113,310 | ||||
Evergy Inc. | 1,844,058 | 111,436 | ||||
NiSource Inc. | 3,186,304 | 78,064 | ||||
Vistra Corp. | 3,916,007 | 72,642 | ||||
NRG Energy Inc. | 994,175 | 40,065 | ||||
Pinnacle West Capital Corp. | 457,985 | 37,541 | ||||
Avangrid Inc. | 629,127 | 32,356 | ||||
2,924,091 | ||||||
Total Common Stocks (Cost $18,533,139) | 26,752,548 |
Shares | Market Value• ($000) | |||||
Temporary Cash Investments (0.7%) | ||||||
Money Market Fund (0.7%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 0.056% (Cost $201,080) | 2,010,861 | 201,086 | |||
Total Investments (100.6%) (Cost $18,734,219) | 26,953,634 | |||||
Other Assets and Liabilities—Net (-0.6%) | (166,752) | |||||
Net Assets (100%) | 26,786,882 |
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 $208,817,000. |
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 $214,352,000 was received for securities on loan, of which $179,972,000 is held in Vanguard Market Liquidity Fund and $34,380,000 is held in cash. |
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 2021 | 9 | 1,930 | 27 |
E-mini S&P Mid-Cap 400 Index | September 2021 | 145 | 39,040 | (777) |
(750) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $18,533,139) | 26,752,548 |
Affiliated Issuers (Cost $201,080) | 201,086 |
Total Investments in Securities | 26,953,634 |
Investment in Vanguard | 946 |
Cash | 5,821 |
Cash Collateral Pledged—Futures Contracts | 2,060 |
Receivables for Investment Securities Sold | 28,775 |
Receivables for Accrued Income | 45,919 |
Receivables for Capital Shares Issued | 20,431 |
Variation Margin Receivable—Futures Contracts | 41 |
Total Assets | 27,057,627 |
Liabilities | |
Payables for Investment Securities Purchased | 29,131 |
Collateral for Securities on Loan | 214,352 |
Payables for Capital Shares Redeemed | 26,487 |
Payables to Vanguard | 775 |
Total Liabilities | 270,745 |
Net Assets | 26,786,882 |
At June 30, 2021, net assets consisted of: | |
Paid-in Capital | 21,297,185 |
Total Distributable Earnings (Loss) | 5,489,697 |
Net Assets | 26,786,882 |
Investor Shares—Net Assets | |
Applicable to 1,009,904 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 55,860 |
Net Asset Value Per Share—Investor Shares | $55.31 |
ETF Shares—Net Assets | |
Applicable to 102,647,830 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 14,420,565 |
Net Asset Value Per Share—ETF Shares | $140.49 |
Admiral Shares—Net Assets | |
Applicable to 169,154,767 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 12,310,457 |
Net Asset Value Per Share—Admiral Shares | $72.78 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 228,112 |
Interest1 | 7 |
Securities Lending—Net | 1,192 |
Total Income | 229,311 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,199 |
Management and Administrative—Investor Shares | 43 |
Management and Administrative—ETF Shares | 3,036 |
Management and Administrative—Admiral Shares | 3,158 |
Marketing and Distribution—Investor Shares | 2 |
Marketing and Distribution—ETF Shares | 195 |
Marketing and Distribution—Admiral Shares | 200 |
Custodian Fees | 28 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 685 |
Shareholders’ Reports—Admiral Shares | 70 |
Trustees’ Fees and Expenses | 3 |
Total Expenses | 8,619 |
Net Investment Income | 220,692 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 656,940 |
Futures Contracts | 4,389 |
Realized Net Gain (Loss) | 661,329 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 3,228,152 |
Futures Contracts | (1,273) |
Change in Unrealized Appreciation (Depreciation) | 3,226,879 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 4,108,900 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $7,000, $7,000, and ($7,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $262,477,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 220,692 | 499,306 | |
Realized Net Gain (Loss) | 661,329 | (1,007,235) | |
Change in Unrealized Appreciation (Depreciation) | 3,226,879 | 863,169 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 4,108,900 | 355,240 | |
Distributions | |||
Investor Shares | (448) | (1,066) | |
ETF Shares | (124,472) | (251,536) | |
Admiral Shares | (107,290) | (250,673) | |
Total Distributions | (232,210) | (503,275) | |
Capital Share Transactions | |||
Investor Shares | 4,688 | (7,436) | |
ETF Shares | 1,316,190 | 694,076 | |
Admiral Shares | 393,720 | (882,562) | |
Net Increase (Decrease) from Capital Share Transactions | 1,714,598 | (195,922) | |
Total Increase (Decrease) | 5,591,288 | (343,957) | |
Net Assets | |||
Beginning of Period | 21,195,594 | 21,539,551 | |
End of Period | 26,786,882 | 21,195,594 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $46.83 | $46.96 | $37.50 | $43.89 | $38.24 | $33.86 |
Investment Operations | ||||||
Net Investment Income | .4411 | 1.0481,2 | .8081 | 1.0011,3 | .7711 | .675 |
Net Realized and Unrealized Gain (Loss) on Investments | 8.498 | (.122) | 9.566 | (6.415) | 5.646 | 4.396 |
Total from Investment Operations | 8.939 | .926 | 10.374 | (5.414) | 6.417 | 5.071 |
Distributions | ||||||
Dividends from Net Investment Income | (.459) | (1.056) | (.914) | (.976) | (.767) | (.691) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.459) | (1.056) | (.914) | (.976) | (.767) | (.691) |
Net Asset Value, End of Period | $55.31 | $46.83 | $46.96 | $37.50 | $43.89 | $38.24 |
Total Return4 | 19.12% | 2.43% | 27.82% | -12.53% | 16.91% | 15.11% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $56 | $43 | $52 | $508 | $682 | $666 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 1.69% | 2.58%2 | 1.90% | 2.29%3 | 1.92% | 2.02% |
Portfolio Turnover Rate5 | 8% | 39% | 17% | 17% | 17% | 20% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.142 and 0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 | Net investment income per share and the ratio of net investment income to average net assets include $.111 and 0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
4 | 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. |
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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $118.93 | $119.27 | $95.22 | $111.47 | $97.12 | $85.99 |
Investment Operations | ||||||
Net Investment Income | 1.2021 | 2.7811,2 | 2.4971 | 2.6451,3 | 2.1161 | 1.822 |
Net Realized and Unrealized Gain (Loss) on Investments | 21.600 | (.310) | 23.996 | (16.278) | 14.306 | 11.170 |
Total from Investment Operations | 22.802 | 2.471 | 26.493 | (13.633) | 16.422 | 12.992 |
Distributions | ||||||
Dividends from Net Investment Income | (1.242) | (2.811) | (2.443) | (2.617) | (2.072) | (1.862) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.242) | (2.811) | (2.443) | (2.617) | (2.072) | (1.862) |
Net Asset Value, End of Period | $140.49 | $118.93 | $119.27 | $95.22 | $111.47 | $97.12 |
Total Return | 19.20% | 2.50% | 27.98% | -12.41% | 17.05% | 15.26% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $14,421 | $11,061 | $10,339 | $7,898 | $8,355 | $6,383 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.81% | 2.69%2 | 2.26% | 2.41%3 | 2.04% | 2.14% |
Portfolio Turnover Rate4 | 8% | 39% | 17% | 17% | 17% | 20% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.362 and 0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 | Net investment income per share and the ratio of net investment income to average net assets include $.282 and 0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $61.61 | $61.79 | $49.33 | $57.74 | $50.31 | $44.54 |
Investment Operations | ||||||
Net Investment Income | .6211 | 1.4381,2 | 1.3031 | 1.3851,3 | 1.0961 | .942 |
Net Realized and Unrealized Gain (Loss) on Investments | 11.192 | (.162) | 12.422 | (8.439) | 7.407 | 5.791 |
Total from Investment Operations | 11.813 | 1.276 | 13.725 | (7.054) | 8.503 | 6.733 |
Distributions | ||||||
Dividends from Net Investment Income | (.643) | (1.456) | (1.265) | (1.356) | (1.073) | (.963) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.643) | (1.456) | (1.265) | (1.356) | (1.073) | (.963) |
Net Asset Value, End of Period | $72.78 | $61.61 | $61.79 | $49.33 | $57.74 | $50.31 |
Total Return4 | 19.21% | 2.54% | 27.99% | -12.42% | 17.04% | 15.26% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $12,310 | $10,092 | $11,148 | $7,738 | $8,134 | $5,949 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.81% | 2.69%2 | 2.28% | 2.41%3 | 2.04% | 2.14% |
Portfolio Turnover Rate5 | 8% | 39% | 17% | 17% | 17% | 20% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.187 and 0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 | Net investment income per share and the ratio of net investment income to average net assets include $.146 and 0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
4 | 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. |
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. |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 18,758,677 |
Gross Unrealized Appreciation | 8,434,984 |
Gross Unrealized Depreciation | (240,777) |
Net Unrealized Appreciation (Depreciation) | 8,194,207 |
E. | During the six months ended June 30, 2021, the fund purchased $4,063,517,000 of investment securities and sold $2,345,997,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,713,137,000 and $456,006,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 10,060 | 188 | 8,255 | 208 | |
Issued in Lieu of Cash Distributions | 448 | 8 | 1,066 | 27 | |
Redeemed | (5,820) | (111) | (16,757) | (423) | |
Net Increase (Decrease)—Investor Shares | 4,688 | 85 | (7,436) | (188) |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 1,788,357 | 13,021 | 3,661,867 | 35,714 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (472,167) | (3,375) | (2,967,791) | (29,400) | |
Net Increase (Decrease)—ETF Shares | 1,316,190 | 9,646 | 694,076 | 6,314 | |
Admiral Shares | |||||
Issued | 1,769,591 | 25,323 | 2,506,721 | 48,206 | |
Issued in Lieu of Cash Distributions | 94,804 | 1,343 | 222,711 | 4,318 | |
Redeemed | (1,470,675) | (21,314) | (3,611,994) | (69,151) | |
Net Increase (Decrease)—Admiral Shares | 393,720 | 5,352 | (882,562) | (16,627) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
U.S. Patent Nos. 6,879,964; 7,337,138;
7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636
Vanguard Marketing Corporation, Distributor.
Vanguard Growth Index Fund |
Vanguard Value Index Fund |
Vanguard Large-Cap Index Fund |
Results of Proxy Voting | 1 |
About Your Fund’s Expenses | 2 |
Growth Index Fund | 4 |
Value Index Fund | 24 |
Large-Cap Index Fund | 45 |
Trustees Approve Advisory Arrangements | 66 |
Liquidity Risk Management | 68 |
Vanguard Fund | For | Abstain | Against | Broker Non-Votes | Percentage For |
U.S. Value Fund | 33,292,112 | 1,490,544 | 1,963,555 | 0 | 90.6% |
• | 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 June 30, 2021 | |||
Beginning Account Value 12/31/2020 | Ending Account Value 6/30/2021 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,133.00 | $0.90 |
ETF Shares | 1,000.00 | 1,133.70 | 0.21 |
Admiral™ Shares | 1,000.00 | 1,133.60 | 0.26 |
Institutional Shares | 1,000.00 | 1,133.70 | 0.21 |
Value Index Fund | |||
Investor Shares | $1,000.00 | $1,167.21 | $0.91 |
ETF Shares | 1,000.00 | 1,167.97 | 0.22 |
Admiral Shares | 1,000.00 | 1,168.20 | 0.27 |
Institutional Shares | 1,000.00 | 1,168.03 | 0.22 |
Large-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,148.60 | $0.91 |
ETF Shares | 1,000.00 | 1,149.30 | 0.21 |
Admiral Shares | 1,000.00 | 1,149.20 | 0.27 |
Institutional Shares | 1,000.00 | 1,149.30 | 0.21 |
Based on Hypothetical 5% Yearly Return | |||
Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Value Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Large-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Basic Materials | 1.2% |
Consumer Discretionary | 23.4 |
Consumer Staples | 1.0 |
Energy | 0.5 |
Financials | 2.1 |
Health Care | 7.8 |
Industrials | 12.7 |
Real Estate | 2.6 |
Technology | 47.6 |
Telecommunications | 1.0 |
Utilities | 0.1 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Basic Materials (1.2%) | |||
Linde plc | 4,015,450 | 1,160,867 | |
Ecolab Inc. | 1,987,154 | 409,294 | |
Fastenal Co. | 4,434,985 | 230,619 | |
FMC Corp. | 995,181 | 107,679 | |
Albemarle Corp. | 450,661 | 75,918 | |
1,984,377 | |||
Consumer Discretionary (23.4%) | |||
* | Amazon.com Inc. | 3,310,163 | 11,387,490 |
* | Tesla Inc. | 5,950,896 | 4,044,824 |
Home Depot Inc. | 8,210,422 | 2,618,221 | |
* | Walt Disney Co. | 14,021,321 | 2,464,528 |
* | Netflix Inc. | 3,323,890 | 1,755,712 |
NIKE Inc. Class B | 9,844,960 | 1,520,948 | |
Costco Wholesale Corp. | 3,417,171 | 1,352,072 | |
McDonald's Corp. | 5,761,810 | 1,330,921 | |
Lowe's Cos. Inc. | 5,521,299 | 1,070,966 | |
Starbucks Corp. | 9,098,616 | 1,017,316 | |
* | Booking Holdings Inc. | 317,015 | 693,657 |
TJX Cos. Inc. | 8,846,891 | 596,457 | |
Activision Blizzard Inc. | 6,000,005 | 572,640 | |
Estee Lauder Cos. Inc. Class A | 1,701,113 | 541,090 | |
* | Uber Technologies Inc. | 10,115,498 | 506,989 |
Dollar General Corp. | 1,847,644 | 399,812 | |
Ross Stores Inc. | 2,753,727 | 341,462 | |
* | Chipotle Mexican Grill Inc. Class A | 217,373 | 337,002 |
* | Lululemon Athletica Inc. | 917,911 | 335,010 |
* | Aptiv plc | 2,087,189 | 328,377 |
Electronic Arts Inc. | 2,209,944 | 317,856 | |
* | O'Reilly Automotive Inc. | 538,713 | 305,025 |
Yum! Brands Inc. | 2,300,360 | 264,610 | |
* | Hilton Worldwide Holdings Inc. | 2,150,782 | 259,427 |
* | Trade Desk Inc. Class A | 3,330,139 | 257,620 |
* | AutoZone Inc. | 170,184 | 253,952 |
* | Peloton Interactive Inc. Class A | 1,971,415 | 244,495 |
* | Copart Inc. | 1,644,144 | 216,748 |
*,1 | AMC Entertainment Holdings Inc. Class A | 3,804,297 | 215,628 |
* | Etsy Inc. | 981,404 | 202,012 |
Shares | Market Value• ($000) | ||
* | Carvana Co. Class A | 624,949 | 188,622 |
* | Wayfair Inc. Class A | 569,531 | 179,807 |
* | Roblox Corp. Class A | 1,992,613 | 179,295 |
* | Expedia Group Inc. | 1,092,210 | 178,806 |
* | Airbnb Inc. Class A | 1,117,967 | 171,205 |
Tractor Supply Co. | 890,040 | 165,601 | |
* | Burlington Stores Inc. | 513,829 | 165,448 |
* | Caesars Entertainment Inc. | 1,530,021 | 158,740 |
* | Take-Two Interactive Software Inc. | 893,093 | 158,095 |
* | Ulta Beauty Inc. | 427,691 | 147,883 |
Domino's Pizza Inc. | 299,823 | 139,864 | |
* | Marriott International Inc. Class A | 1,004,590 | 137,147 |
* | NVR Inc. | 26,668 | 132,628 |
* | Lyft Inc. Class A | 1,980,328 | 119,770 |
* | DraftKings Inc. Class A | 2,166,061 | 113,003 |
* | Wynn Resorts Ltd. | 803,807 | 98,306 |
* | Live Nation Entertainment Inc. | 1,097,623 | 96,141 |
* | Royal Caribbean Cruises Ltd. | 834,425 | 71,160 |
MGM Resorts International | 1,607,904 | 68,577 | |
Rollins Inc. | 1,710,014 | 58,482 | |
* | Vail Resorts Inc. | 155,442 | 49,201 |
* | Penn National Gaming Inc. | 603,686 | 46,176 |
*,1 | Chewy Inc. Class A | 566,780 | 45,178 |
1 | Sirius XM Holdings Inc. | 6,317,775 | 41,318 |
Warner Music Group Corp. Class A | 722,257 | 26,030 | |
*,1 | QuantumScape Corp. Class A | 501,249 | 14,667 |
* | Endeavor Group Holdings Inc. Class A | 4,687 | 130 |
* | LKQ Corp. | 1,194 | 59 |
38,704,206 | |||
Consumer Staples (1.0%) | |||
Colgate-Palmolive Co. | 6,532,429 | 531,413 | |
* | Monster Beverage Corp. | 2,857,024 | 260,989 |
Hershey Co. | 1,130,309 | 196,877 | |
Brown-Forman Corp. Class B | 2,391,152 | 179,193 | |
McCormick & Co. Inc. | 1,922,751 | 169,817 |
Shares | Market Value• ($000) | ||
Church & Dwight Co. Inc. | 1,893,764 | 161,387 | |
Lamb Weston Holdings Inc. | 1,129,566 | 91,111 | |
Clorox Co. | 480,210 | 86,395 | |
Brown-Forman Corp. Class A | 325,778 | 22,967 | |
1,700,149 | |||
Energy (0.5%) | |||
Pioneer Natural Resources Co. | 1,695,340 | 275,526 | |
* | Cheniere Energy Inc. | 1,762,027 | 152,838 |
* | Plug Power Inc. | 4,387,862 | 150,021 |
Hess Corp. | 1,071,744 | 93,585 | |
* | Enphase Energy Inc. | 471,507 | 86,583 |
758,553 | |||
Financials (2.1%) | |||
S&P Global Inc. | 1,860,161 | 763,503 | |
Moody's Corp. | 1,228,693 | 445,242 | |
Aon plc Class A (XNYS) | 1,655,403 | 395,244 | |
MSCI Inc. Class A | 604,617 | 322,309 | |
Intercontinental Exchange Inc. | 2,175,442 | 258,225 | |
First Republic Bank | 1,360,968 | 254,732 | |
* | Coinbase Global Inc. Class A | 930,622 | 235,727 |
* | SVB Financial Group | 419,403 | 233,368 |
Broadridge Financial Solutions Inc. | 896,703 | 144,844 | |
MarketAxess Holdings Inc. | 278,624 | 129,167 | |
FactSet Research Systems Inc. | 292,302 | 98,100 | |
Tradeweb Markets Inc. Class A | 808,356 | 68,355 | |
* | Markel Corp. | 53,097 | 63,011 |
SEI Investments Co. | 496,234 | 30,752 | |
Interactive Brokers Group Inc. Class A | 315,559 | 20,742 | |
Arthur J Gallagher & Co. | 893 | 125 | |
Cboe Global Markets Inc. | 482 | 57 | |
3,463,503 | |||
Health Care (7.8%) | |||
Thermo Fisher Scientific Inc. | 3,034,896 | 1,531,014 | |
* | Intuitive Surgical Inc. | 914,375 | 840,896 |
Zoetis Inc. | 3,666,064 | 683,208 | |
Danaher Corp. | 2,478,499 | 665,130 | |
Stryker Corp. | 2,472,980 | 642,307 | |
* | Moderna Inc. | 2,635,228 | 619,226 |
* | Illumina Inc. | 1,127,383 | 533,489 |
* | Edwards Lifesciences Corp. | 4,800,209 | 497,158 |
* | Boston Scientific Corp. | 10,972,017 | 469,163 |
* | Regeneron Pharmaceuticals Inc. | 768,016 | 428,968 |
* | IDEXX Laboratories Inc. | 658,519 | 415,888 |
* | Vertex Pharmaceuticals Inc. | 1,998,916 | 403,041 |
* | IQVIA Holdings Inc. | 1,479,976 | 358,628 |
Shares | Market Value• ($000) | ||
* | Align Technology Inc. | 580,481 | 354,674 |
Agilent Technologies Inc. | 2,362,868 | 349,256 | |
* | Veeva Systems Inc. Class A | 1,065,767 | 331,400 |
* | DexCom Inc. | 746,721 | 318,850 |
ResMed Inc. | 1,123,667 | 277,006 | |
Becton Dickinson and Co. | 1,124,204 | 273,395 | |
West Pharmaceutical Services Inc. | 570,068 | 204,711 | |
Cerner Corp. | 2,326,779 | 181,861 | |
* | Teladoc Health Inc. | 1,073,861 | 178,572 |
* | Seagen Inc. | 1,050,998 | 165,932 |
* | Exact Sciences Corp. | 1,324,655 | 164,668 |
* | Centene Corp. | 2,252,670 | 164,287 |
* | Horizon Therapeutics plc | 1,734,548 | 162,423 |
* | Alexion Pharmaceuticals Inc. | 853,285 | 156,757 |
Baxter International Inc. | 1,941,454 | 156,287 | |
* | Alnylam Pharmaceuticals Inc. | 907,676 | 153,869 |
Cooper Cos. Inc. | 379,540 | 150,400 | |
Teleflex Inc. | 360,879 | 144,998 | |
* | Insulet Corp. | 511,725 | 140,474 |
* | Incyte Corp. | 1,443,469 | 121,439 |
* | 10X Genomics Inc. Class A | 606,086 | 118,684 |
* | BioMarin Pharmaceutical Inc. | 1,411,074 | 117,740 |
* | ABIOMED Inc. | 349,754 | 109,162 |
STERIS plc | 365,353 | 75,372 | |
* | Novocure Ltd. | 338,974 | 75,191 |
* | Catalent Inc. | 657,687 | 71,109 |
* | Oak Street Health Inc. | 929,660 | 54,450 |
* | Bio-Rad Laboratories Inc. Class A | 81,060 | 52,226 |
* | PPD Inc. | 949,156 | 43,747 |
*,1 | GoodRx Holdings Inc. Class A | 456,367 | 16,434 |
Bristol-Myers Squibb Co. | 10,345 | 691 | |
12,974,181 | |||
Industrials (12.7%) | |||
Visa Inc. Class A | 12,618,853 | 2,950,540 | |
* | PayPal Holdings Inc. | 9,071,024 | 2,644,022 |
Mastercard Inc. Class A | 6,830,867 | 2,493,881 | |
Accenture plc Class A | 4,908,564 | 1,446,996 | |
Union Pacific Corp. | 5,129,680 | 1,128,170 | |
* | Boeing Co. | 4,515,779 | 1,081,800 |
* | Square Inc. Class A | 3,026,967 | 737,975 |
Fidelity National Information Services Inc. | 4,788,508 | 678,388 | |
Automatic Data Processing Inc. | 3,285,599 | 652,586 | |
United Parcel Service Inc. Class B | 2,792,662 | 580,790 | |
Sherwin-Williams Co. | 1,848,268 | 503,561 | |
* | Fiserv Inc. | 4,633,524 | 495,277 |
Global Payments Inc. | 2,279,616 | 427,519 | |
Lockheed Martin Corp. | 912,102 | 345,094 |
Shares | Market Value• ($000) | ||
IHS Markit Ltd. | 2,769,599 | 312,023 | |
Paychex Inc. | 2,504,382 | 268,720 | |
Cintas Corp. | 689,523 | 263,398 | |
Rockwell Automation Inc. | 896,320 | 256,365 | |
* | Mettler-Toledo International Inc. | 179,693 | 248,936 |
Equifax Inc. | 939,771 | 225,085 | |
* | Keysight Technologies Inc. | 1,424,709 | 219,989 |
* | Zebra Technologies Corp. Class A | 413,208 | 218,789 |
Verisk Analytics Inc. Class A | 1,251,647 | 218,688 | |
Old Dominion Freight Line Inc. | 805,913 | 204,541 | |
* | Generac Holdings Inc. | 485,837 | 201,695 |
Kansas City Southern | 702,188 | 198,979 | |
Vulcan Materials Co. | 1,024,416 | 178,320 | |
L3Harris Technologies Inc. | 792,468 | 171,292 | |
Expeditors International of Washington Inc. | 1,304,083 | 165,097 | |
* | FleetCor Technologies Inc. | 643,611 | 164,803 |
* | Waters Corp. | 476,458 | 164,669 |
TransUnion | 1,477,168 | 162,208 | |
* | Trimble Inc. | 1,937,913 | 158,579 |
* | Teledyne Technologies Inc. | 359,160 | 150,427 |
AMETEK Inc. | 891,555 | 119,023 | |
JB Hunt Transport Services Inc. | 652,778 | 106,370 | |
Ball Corp. | 1,267,322 | 102,678 | |
Martin Marietta Materials Inc. | 240,764 | 84,703 | |
HEICO Corp. Class A | 563,396 | 69,962 | |
Masco Corp. | 979,881 | 57,725 | |
Cognex Corp. | 647,764 | 54,445 | |
Jack Henry & Associates Inc. | 286,817 | 46,897 | |
HEICO Corp. | 334,784 | 46,676 | |
*,1 | Affirm Holdings Inc. | 398,606 | 26,846 |
* | Marqeta Inc. Class A | 9,132 | 256 |
Westinghouse Air Brake Technologies Corp. | 822 | 68 | |
21,034,851 | |||
Real Estate (2.6%) | |||
American Tower Corp. | 3,504,065 | 946,588 | |
Crown Castle International Corp. | 3,337,288 | 651,105 | |
Equinix Inc. | 691,714 | 555,170 | |
Public Storage | 1,148,471 | 345,334 | |
Digital Realty Trust Inc. | 2,174,368 | 327,155 | |
SBA Communications Corp. Class A | 844,362 | 269,098 | |
* | CoStar Group Inc. | 3,049,498 | 252,559 |
Alexandria Real Estate Equities Inc. | 1,138,885 | 207,209 | |
Invitation Homes Inc. | 4,383,302 | 163,453 | |
* | Zillow Group Inc. Class C | 1,245,866 | 152,270 |
Sun Communities Inc. | 863,513 | 148,006 | |
Realty Income Corp. | 1,442,114 | 96,247 | |
UDR Inc. | 1,146,051 | 56,134 |
Shares | Market Value• ($000) | ||
* | Zillow Group Inc. Class A | 337,222 | 41,320 |
*,1 | Opendoor Technologies Inc. | 1,672,504 | 29,653 |
Regency Centers Corp. | 328,329 | 21,036 | |
4,262,337 | |||
Technology (47.5%) | |||
Apple Inc. | 122,408,990 | 16,765,135 | |
Microsoft Corp. | 58,157,627 | 15,754,901 | |
* | Facebook Inc. Class A | 18,501,955 | 6,433,315 |
* | Alphabet Inc. Class A | 2,322,181 | 5,670,278 |
* | Alphabet Inc. Class C | 2,124,000 | 5,323,424 |
NVIDIA Corp. | 4,570,135 | 3,656,565 | |
* | Adobe Inc. | 3,691,060 | 2,161,632 |
* | salesforce.com Inc. | 6,765,244 | 1,652,546 |
Texas Instruments Inc. | 7,131,248 | 1,371,339 | |
Applied Materials Inc. | 7,086,049 | 1,009,053 | |
Intuit Inc. | 2,004,576 | 982,583 | |
* | Advanced Micro Devices Inc. | 9,382,158 | 881,266 |
* | ServiceNow Inc. | 1,524,643 | 837,868 |
* | Micron Technology Inc. | 8,659,360 | 735,872 |
Lam Research Corp. | 1,101,288 | 716,608 | |
Broadcom Inc. | 1,499,643 | 715,090 | |
QUALCOMM Inc. | 4,355,116 | 622,477 | |
* | Snap Inc. Class A | 8,813,604 | 600,559 |
* | Zoom Video Communications Inc. Class A | 1,550,753 | 600,188 |
* | Autodesk Inc. | 1,699,302 | 496,026 |
* | Twilio Inc. Class A | 1,253,765 | 494,184 |
* | Snowflake Inc. Class A | 1,941,599 | 469,479 |
* | Twitter Inc. | 5,854,855 | 402,873 |
* | DocuSign Inc. Class A | 1,427,144 | 398,987 |
* | Crowdstrike Holdings Inc. Class A | 1,537,650 | 386,427 |
KLA Corp. | 1,183,627 | 383,744 | |
Roper Technologies Inc. | 812,619 | 382,093 | |
Marvell Technology Inc. | 6,180,401 | 360,503 | |
* | Workday Inc. Class A | 1,459,378 | 348,412 |
* | Pinterest Inc. Class A | 4,225,855 | 333,631 |
* | Palantir Technologies Inc. Class A | 12,533,517 | 330,383 |
* | Synopsys Inc. | 1,178,154 | 324,923 |
* | Match Group Inc. | 1,982,652 | 319,703 |
Microchip Technology Inc. | 2,112,123 | 316,269 | |
Amphenol Corp. Class A | 4,614,671 | 315,690 | |
* | Cadence Design Systems Inc. | 2,148,742 | 293,991 |
Xilinx Inc. | 1,898,338 | 274,576 | |
* | Okta Inc. | 1,107,510 | 270,985 |
* | Palo Alto Networks Inc. | 714,440 | 265,093 |
* | Fortinet Inc. | 1,071,959 | 255,330 |
Analog Devices Inc. | 1,424,007 | 245,157 | |
Skyworks Solutions Inc. | 1,274,815 | 244,446 | |
* | ANSYS Inc. | 672,961 | 233,558 |
Maxim Integrated Products Inc. | 2,072,245 | 218,332 |
Shares | Market Value• ($000) | ||
* | EPAM Systems Inc. | 413,772 | 211,421 |
* | HubSpot Inc. | 342,778 | 199,744 |
* | Cloudflare Inc. Class A | 1,780,787 | 188,478 |
* | Splunk Inc. | 1,265,185 | 182,920 |
* | RingCentral Inc. Class A | 623,543 | 181,189 |
* | Datadog Inc. Class A | 1,716,011 | 178,602 |
Teradyne Inc. | 1,283,895 | 171,991 | |
* | VeriSign Inc. | 739,173 | 168,302 |
* | Slack Technologies Inc. Class A | 3,686,607 | 163,317 |
* | Gartner Inc. | 631,456 | 152,939 |
* | Coupa Software Inc. | 566,781 | 148,559 |
* | Akamai Technologies Inc. | 1,258,587 | 146,751 |
* | Paycom Software Inc. | 395,011 | 143,575 |
* | Tyler Technologies Inc. | 314,597 | 142,314 |
* | DoorDash Inc. Class A | 795,298 | 141,825 |
* | Zscaler Inc. | 577,352 | 124,743 |
SS&C Technologies Holdings Inc. | 1,678,796 | 120,974 | |
* | Unity Software Inc. | 1,078,791 | 118,484 |
* | GoDaddy Inc. Class A | 1,295,582 | 112,664 |
*,1 | VMware Inc. Class A | 605,437 | 96,852 |
* | IAC/InterActiveCorp. | 611,426 | 94,263 |
* | Black Knight Inc. | 1,148,878 | 89,589 |
* | MongoDB Inc. Class A | 227,741 | 82,333 |
Bentley Systems Inc. Class B | 1,226,823 | 79,474 | |
* | Dropbox Inc. Class A | 2,333,310 | 70,723 |
* | Zendesk Inc. | 458,129 | 66,126 |
Monolithic Power Systems Inc. | 167,802 | 62,666 | |
* | IPG Photonics Corp. | 268,942 | 56,685 |
Citrix Systems Inc. | 479,984 | 56,288 | |
* | ZoomInfo Technologies Inc. Class A | 756,984 | 39,492 |
* | Vimeo Inc. | 503,500 | 24,671 |
* | Bumble Inc. Class A | 416,317 | 23,980 |
* | AppLovin Corp. Class A | 250,957 | 18,864 |
* | Qualtrics International Inc. Class A | 205,998 | 7,879 |
*,1 | UiPath Inc. Class A | 9,418 | 640 |
78,724,811 |
Shares | Market Value• ($000) | ||
Telecommunications (1.0%) | |||
* | Charter Communications Inc. Class A | 946,975 | 683,195 |
* | Roku Inc. | 889,505 | 408,505 |
* | Arista Networks Inc. | 441,996 | 160,140 |
Motorola Solutions Inc. | 655,074 | 142,053 | |
* | Liberty Broadband Corp. Class C | 588,305 | 102,165 |
* | Altice USA Inc. Class A | 1,692,843 | 57,794 |
* | Liberty Broadband Corp. Class A | 91,505 | 15,388 |
Ubiquiti Inc. | 48,469 | 15,131 | |
1,584,371 | |||
Utilities (0.1%) | |||
Waste Connections Inc. (XTSE) | 2,020,657 | 241,327 | |
Total Common Stocks (Cost $67,085,170) | 165,432,666 | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.056% (Cost $478,514) | 4,785,683 | 478,568 |
Total Investments (100.2%) (Cost $67,563,684) | 165,911,234 | ||
Other Assets and Liabilities— Net (-0.2%) | (279,356) | ||
Net Assets (100%) | 165,631,878 | ||
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 $291,169,000. |
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 $300,686,000 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 2021 | 266 | 57,038 | 635 |
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) |
Netflix Inc. | 8/31/21 | BOANA | 52,821 | 0.064 | 3 | — |
Visa Inc. | 8/31/21 | BOANA | 104,050 | 0.014 | 143 | — |
146 | — |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $67,085,170) | 165,432,666 |
Affiliated Issuers (Cost $478,514) | 478,568 |
Total Investments in Securities | 165,911,234 |
Investment in Vanguard | 5,416 |
Cash Collateral Pledged—Futures Contracts | 2,935 |
Receivables for Investment Securities Sold | 30,234 |
Receivables for Accrued Income | 25,560 |
Receivables for Capital Shares Issued | 48,020 |
Variation Margin Receivable—Futures Contracts | 88 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 146 |
Total Assets | 166,023,633 |
Liabilities | |
Due to Custodian | 24,791 |
Payables for Investment Securities Purchased | 678 |
Collateral for Securities on Loan | 300,686 |
Payables for Capital Shares Redeemed | 62,634 |
Payables to Vanguard | 2,966 |
Total Liabilities | 391,755 |
Net Assets | 165,631,878 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 65,939,847 |
Total Distributable Earnings (Loss) | 99,692,031 |
Net Assets | 165,631,878 |
Investor Shares—Net Assets | |
Applicable to 4,993,343 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 736,657 |
Net Asset Value Per Share—Investor Shares | $147.53 |
ETF Shares—Net Assets | |
Applicable to 275,612,804 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 78,966,613 |
Net Asset Value Per Share—ETF Shares | $286.51 |
Admiral Shares—Net Assets | |
Applicable to 416,350,341 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 61,404,292 |
Net Asset Value Per Share—Admiral Shares | $147.48 |
Institutional Shares—Net Assets | |
Applicable to 166,277,835 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 24,524,316 |
Net Asset Value Per Share—Institutional Shares | $147.49 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 431,018 |
Interest1 | 100 |
Securities Lending—Net | 1,309 |
Total Income | 432,427 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 2,038 |
Management and Administrative—Investor Shares | 585 |
Management and Administrative—ETF Shares | 11,202 |
Management and Administrative—Admiral Shares | 12,139 |
Management and Administrative—Institutional Shares | 3,882 |
Marketing and Distribution—Investor Shares | 17 |
Marketing and Distribution—ETF Shares | 865 |
Marketing and Distribution—Admiral Shares | 799 |
Marketing and Distribution—Institutional Shares | 258 |
Custodian Fees | 400 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 962 |
Shareholders’ Reports—Admiral Shares | 195 |
Shareholders’ Reports—Institutional Shares | 39 |
Trustees’ Fees and Expenses | 21 |
Total Expenses | 33,403 |
Net Investment Income | 399,024 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 4,501,075 |
Futures Contracts | 20,263 |
Swap Contracts | 14,473 |
Realized Net Gain (Loss) | 4,535,811 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 14,505,087 |
Futures Contracts | 387 |
Swap Contracts | (8,724) |
Change in Unrealized Appreciation (Depreciation) | 14,496,750 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 19,431,585 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $98,000, less than $1,000, and ($19,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $4,380,322,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 399,024 | 959,207 | |
Realized Net Gain (Loss) | 4,535,811 | 6,085,082 | |
Change in Unrealized Appreciation (Depreciation) | 14,496,750 | 35,082,887 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 19,431,585 | 42,127,176 | |
Distributions | |||
Investor Shares | (1,582) | (4,183) | |
ETF Shares | (205,297) | (453,408) | |
Admiral Shares | (158,650) | (351,474) | |
Institutional Shares | (65,121) | (152,514) | |
Total Distributions | (430,650) | (961,579) | |
Capital Share Transactions | |||
Investor Shares | (99,602) | (29,849) | |
ETF Shares | 1,525,326 | 2,591,427 | |
Admiral Shares | 395,012 | 742,741 | |
Institutional Shares | (922,923) | (319,460) | |
Net Increase (Decrease) from Capital Share Transactions | 897,813 | 2,984,859 | |
Total Increase (Decrease) | 19,898,748 | 44,150,456 | |
Net Assets | |||
Beginning of Period | 145,733,130 | 101,582,674 | |
End of Period | 165,631,878 | 145,733,130 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $130.50 | $93.87 | $69.10 | $72.36 | $57.32 | $54.78 |
Investment Operations | ||||||
Net Investment Income | .2711 | .7281 | .7461 | .8231 | .7501 | .720 |
Net Realized and Unrealized Gain (Loss) on Investments | 17.058 | 36.631 | 24.802 | (3.271) | 15.037 | 2.548 |
Total from Investment Operations | 17.329 | 37.359 | 25.548 | (2.448) | 15.787 | 3.268 |
Distributions | ||||||
Dividends from Net Investment Income | (.299) | (.729) | (.778) | (.812) | (.747) | (.728) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.299) | (.729) | (.778) | (.812) | (.747) | (.728) |
Net Asset Value, End of Period | $147.53 | $130.50 | $93.87 | $69.10 | $72.36 | $57.32 |
Total Return2 | 13.30% | 40.01% | 37.08% | -3.46% | 27.65% | 5.99% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $737 | $750 | $572 | $2,654 | $3,210 | $2,938 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.18% |
Ratio of Net Investment Income to Average Net Assets | 0.40% | 0.69% | 0.92% | 1.08% | 1.15% | 1.31% |
Portfolio Turnover Rate3 | 6% | 6% | 11% | 11% | 8% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $253.44 | $182.31 | $134.21 | $140.55 | $111.33 | $106.40 |
Investment Operations | ||||||
Net Investment Income | .7011 | 1.6831 | 1.7731 | 1.8071 | 1.6261 | 1.528 |
Net Realized and Unrealized Gain (Loss) on Investments | 33.124 | 71.131 | 48.065 | (6.373) | 29.200 | 4.949 |
Total from Investment Operations | 33.825 | 72.814 | 49.838 | (4.566) | 30.826 | 6.477 |
Distributions | ||||||
Dividends from Net Investment Income | (.755) | (1.684) | (1.738) | (1.774) | (1.606) | (1.547) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.755) | (1.684) | (1.738) | (1.774) | (1.606) | (1.547) |
Net Asset Value, End of Period | $286.51 | $253.44 | $182.31 | $134.21 | $140.55 | $111.33 |
Total Return | 13.37% | 40.16% | 37.26% | -3.32% | 27.80% | 6.13% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $78,967 | $68,474 | $46,481 | $32,489 | $31,399 | $23,040 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.53% | 0.81% | 1.09% | 1.21% | 1.27% | 1.43% |
Portfolio Turnover Rate2 | 6% | 6% | 11% | 11% | 8% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $130.46 | $93.84 | $69.09 | $72.35 | $57.31 | $54.77 |
Investment Operations | ||||||
Net Investment Income | .3541 | .8551 | .9071 | .9211 | .8361 | .786 |
Net Realized and Unrealized Gain (Loss) on Investments | 17.047 | 36.621 | 24.728 | (3.274) | 15.032 | 2.550 |
Total from Investment Operations | 17.401 | 37.476 | 25.635 | (2.353) | 15.868 | 3.336 |
Distributions | ||||||
Dividends from Net Investment Income | (.381) | (.856) | (.885) | (.907) | (.828) | (.796) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.381) | (.856) | (.885) | (.907) | (.828) | (.796) |
Net Asset Value, End of Period | $147.48 | $130.46 | $93.84 | $69.09 | $72.35 | $57.31 |
Total Return2 | 13.36% | 40.19% | 37.23% | -3.34% | 27.80% | 6.12% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $61,404 | $53,928 | $38,103 | $25,609 | $26,013 | $18,617 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.52% | 0.80% | 1.08% | 1.20% | 1.27% | 1.43% |
Portfolio Turnover Rate3 | 6% | 6% | 11% | 11% | 8% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $130.47 | $93.85 | $69.09 | $72.35 | $57.31 | $54.77 |
Investment Operations | ||||||
Net Investment Income | .3601 | .8671 | .9121 | .9281 | .8411 | .792 |
Net Realized and Unrealized Gain (Loss) on Investments | 17.048 | 36.620 | 24.742 | (3.274) | 15.032 | 2.549 |
Total from Investment Operations | 17.408 | 37.487 | 25.654 | (2.346) | 15.873 | 3.341 |
Distributions | ||||||
Dividends from Net Investment Income | (.388) | (.867) | (.894) | (.914) | (.833) | (.801) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.388) | (.867) | (.894) | (.914) | (.833) | (.801) |
Net Asset Value, End of Period | $147.49 | $130.47 | $93.85 | $69.09 | $72.35 | $57.31 |
Total Return | 13.37% | 40.20% | 37.26% | -3.33% | 27.81% | 6.13% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $24,524 | $22,582 | $16,426 | $12,400 | $12,495 | $9,733 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 0.53% | 0.82% | 1.09% | 1.21% | 1.28% | 1.44% |
Portfolio Turnover Rate2 | 6% | 6% | 11% | 11% | 8% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 165,432,666 | — | — | 165,432,666 |
Temporary Cash Investments | 478,568 | — | — | 478,568 |
Total | 165,911,234 | — | — | 165,911,234 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 635 | — | — | 635 |
Swap Contracts | — | 146 | — | 146 |
Total | 635 | 146 | — | 781 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 67,565,733 |
Gross Unrealized Appreciation | 98,805,438 |
Gross Unrealized Depreciation | (459,301) |
Net Unrealized Appreciation (Depreciation) | 98,346,137 |
E. | During the six months ended June 30, 2021, the fund purchased $16,158,945,000 of investment securities and sold $15,177,966,000 of investment securities, other than temporary cash investments. Purchases and sales include $7,587,356,000 and $6,672,654,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 39,413 | 283 | 111,192 | 1,046 | |
Issued in Lieu of Cash Distributions | 1,582 | 12 | 4,183 | 41 | |
Redeemed | (140,597) | (1,048) | (145,224) | (1,439) | |
Net Increase (Decrease)—Investor Shares | (99,602) | (753) | (29,849) | (352) | |
ETF Shares | |||||
Issued | 8,253,532 | 30,486 | 13,029,182 | 63,516 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (6,728,206) | (25,050) | (10,437,755) | (48,300) | |
Net Increase (Decrease)—ETF Shares | 1,525,326 | 5,436 | 2,591,427 | 15,216 | |
Admiral Shares | |||||
Issued | 5,299,016 | 39,271 | 10,835,142 | 105,463 | |
Issued in Lieu of Cash Distributions | 140,610 | 1,028 | 311,604 | 3,035 | |
Redeemed | (5,044,614) | (37,318) | (10,404,005) | (101,164) | |
Net Increase (Decrease)—Admiral Shares | 395,012 | 2,981 | 742,741 | 7,334 | |
Institutional Shares | |||||
Issued | 1,756,182 | 13,009 | 3,743,543 | 35,924 | |
Issued in Lieu of Cash Distributions | 62,207 | 455 | 141,051 | 1,375 | |
Redeemed | (2,741,312) | (20,270) | (4,204,054) | (39,249) | |
Net Increase (Decrease)—Institutional Shares | (922,923) | (6,806) | (319,460) | (1,950) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Basic Materials | 2.4% |
Consumer Discretionary | 6.5 |
Consumer Staples | 10.0 |
Energy | 5.6 |
Financials | 21.7 |
Health Care | 18.7 |
Industrials | 13.9 |
Real Estate | 2.9 |
Technology | 6.2 |
Telecommunications | 6.2 |
Utilities | 5.9 |
Shares | Market Value• ($000) | ||
Common Stocks (99.8%) | |||
Basic Materials (2.4%) | |||
Air Products and Chemicals Inc. | 1,668,188 | 479,904 | |
Freeport-McMoRan Inc. | 11,046,880 | 409,950 | |
Newmont Corp. | 6,038,866 | 382,743 | |
Dow Inc. | 5,617,322 | 355,464 | |
International Flavors & Fragrances Inc. | 1,876,317 | 280,322 | |
Nucor Corp. | 2,255,613 | 216,381 | |
LyondellBasell Industries NV Class A | 2,016,180 | 207,404 | |
International Paper Co. | 2,952,884 | 181,041 | |
Avery Dennison Corp. | 625,700 | 131,547 | |
Celanese Corp. Class A | 848,989 | 128,707 | |
Eastman Chemical Co. | 1,028,981 | 120,134 | |
Albemarle Corp. | 439,915 | 74,108 | |
CF Industries Holdings Inc. | 808,485 | 41,597 | |
Westlake Chemical Corp. | 121,356 | 10,933 | |
3,020,235 | |||
Consumer Discretionary (6.5%) | |||
Walmart Inc. | 10,603,694 | 1,495,333 | |
Target Corp. | 3,739,450 | 903,975 | |
* | General Motors Co. | 9,841,388 | 582,315 |
* | Ford Motor Co. | 29,554,229 | 439,176 |
eBay Inc. | 4,878,495 | 342,519 | |
* | Southwest Airlines Co. | 4,457,543 | 236,651 |
DR Horton Inc. | 2,446,515 | 221,092 | |
Lennar Corp. Class A | 2,152,445 | 213,845 | |
* | Delta Air Lines Inc. | 4,821,353 | 208,572 |
VF Corp. | 2,509,599 | 205,887 | |
ViacomCBS Inc. Class B | 4,337,431 | 196,052 | |
Best Buy Co. Inc. | 1,698,796 | 195,328 | |
* | Dollar Tree Inc. | 1,763,916 | 175,510 |
Garmin Ltd. | 1,158,945 | 167,630 | |
* | Las Vegas Sands Corp. | 3,166,907 | 166,864 |
* | Carnival Corp. | 6,237,600 | 164,423 |
* | CarMax Inc. | 1,229,826 | 158,832 |
Darden Restaurants Inc. | 986,261 | 143,984 | |
Genuine Parts Co. | 1,089,006 | 137,727 | |
* | Marriott International Inc. Class A | 982,614 | 134,146 |
Omnicom Group Inc. | 1,621,783 | 129,726 |
Shares | Market Value• ($000) | ||
* | United Airlines Holdings Inc. | 2,438,954 | 127,533 |
Whirlpool Corp. | 472,259 | 102,962 | |
PulteGroup Inc. | 1,884,210 | 102,821 | |
Advance Auto Parts Inc. | 493,256 | 101,187 | |
News Corp. Class A | 3,764,673 | 97,016 | |
* | LKQ Corp. | 1,935,336 | 95,257 |
Hasbro Inc. | 985,167 | 93,118 | |
Fox Corp. Class A | 2,461,423 | 91,393 | |
BorgWarner Inc. (XNYS) | 1,807,899 | 87,755 | |
* | Royal Caribbean Cruises Ltd. | 816,184 | 69,604 |
* | Discovery Inc. Class C | 2,368,981 | 68,653 |
MGM Resorts International | 1,572,688 | 67,075 | |
L Brands Inc. | 840,360 | 60,556 | |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 1,159,129 | 53,772 |
* | American Airlines Group Inc. | 2,417,289 | 51,271 |
Interpublic Group of Cos. Inc. | 1,483,679 | 48,205 | |
* | GameStop Corp. Class A | 223,774 | 47,919 |
Fox Corp. Class B | 1,149,169 | 40,451 | |
Lear Corp. | 226,614 | 39,721 | |
*,1 | Discovery Inc. Class A | 1,203,472 | 36,922 |
Aramark | 963,484 | 35,890 | |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 523,538 | 24,386 |
*,1 | QuantumScape Corp. Class A | 489,323 | 14,318 |
ViacomCBS Inc. Class A | 76,537 | 3,708 | |
Lennar Corp. Class B | 15,603 | 1,271 | |
* | Walt Disney Co. | 5,140 | 903 |
News Corp. Class B | 27,910 | 680 | |
* | Endeavor Group Holdings Inc. Class A | 4,293 | 119 |
* | Aptiv plc | 751 | 118 |
* | DraftKings Inc. Class A | 788 | 41 |
8,184,212 | |||
Consumer Staples (10.0%) | |||
Procter & Gamble Co. | 18,454,273 | 2,490,035 | |
Coca-Cola Co. | 29,250,211 | 1,582,729 | |
PepsiCo Inc. | 10,414,350 | 1,543,094 | |
Philip Morris International Inc. | 11,747,935 | 1,164,338 |
Shares | Market Value• ($000) | ||
CVS Health Corp. | 9,923,968 | 828,056 | |
Altria Group Inc. | 13,949,775 | 665,125 | |
Mondelez International Inc. Class A | 10,588,411 | 661,140 | |
Kimberly-Clark Corp. | 2,543,572 | 340,279 | |
Walgreens Boots Alliance Inc. | 5,538,276 | 291,369 | |
Constellation Brands Inc. Class A | 1,218,474 | 284,989 | |
Sysco Corp. | 3,663,363 | 284,827 | |
General Mills Inc. | 4,597,878 | 280,149 | |
Archer-Daniels-Midland Co. | 4,211,503 | 255,217 | |
Corteva Inc. | 5,565,348 | 246,823 | |
McKesson Corp. | 1,192,377 | 228,030 | |
Kraft Heinz Co. | 5,070,566 | 206,778 | |
Keurig Dr Pepper Inc. | 4,842,111 | 170,636 | |
Tyson Foods Inc. Class A | 2,221,963 | 163,892 | |
Kroger Co. | 4,136,488 | 158,469 | |
Conagra Brands Inc. | 3,617,813 | 131,616 | |
AmerisourceBergen Corp. Class A | 1,083,854 | 124,090 | |
Kellogg Co. | 1,924,986 | 123,834 | |
J M Smucker Co. | 784,823 | 101,690 | |
Hormel Foods Corp. | 2,035,775 | 97,208 | |
Clorox Co. | 468,783 | 84,339 | |
Campbell Soup Co. | 1,484,626 | 67,684 | |
* | Molson Coors Beverage Co. Class B | 680,299 | 36,525 |
12,612,961 | |||
Energy (5.6%) | |||
Exxon Mobil Corp. | 31,911,385 | 2,012,970 | |
Chevron Corp. | 14,567,974 | 1,525,850 | |
ConocoPhillips | 10,171,708 | 619,457 | |
EOG Resources Inc. | 4,399,159 | 367,066 | |
Schlumberger NV | 10,540,258 | 337,394 | |
Marathon Petroleum Corp. | 4,919,556 | 297,240 | |
Phillips 66 | 3,300,518 | 283,250 | |
Kinder Morgan Inc. | 14,509,420 | 264,507 | |
Williams Cos. Inc. | 9,156,592 | 243,107 | |
Valero Energy Corp. | 3,081,127 | 240,574 | |
Occidental Petroleum Corp. | 6,684,512 | 209,025 | |
ONEOK Inc. | 3,358,379 | 186,860 | |
Halliburton Co. | 6,371,229 | 147,303 | |
Baker Hughes Co. Class A | 5,541,113 | 126,725 | |
Hess Corp. | 1,046,232 | 91,357 | |
Devon Energy Corp. | 2,549,244 | 74,412 | |
7,027,097 | |||
Financials (21.6%) | |||
* | Berkshire Hathaway Inc. Class B | 13,451,953 | 3,738,567 |
JPMorgan Chase & Co. | 22,817,904 | 3,549,097 | |
Bank of America Corp. | 58,134,373 | 2,396,880 | |
Wells Fargo & Co. | 31,157,923 | 1,411,142 | |
Citigroup Inc. | 15,580,973 | 1,102,354 | |
Morgan Stanley | 11,219,881 | 1,028,751 | |
Goldman Sachs Group Inc. | 2,561,112 | 972,019 | |
BlackRock Inc. | 1,034,741 | 905,367 | |
Charles Schwab Corp. | 10,878,033 | 792,030 | |
PNC Financial Services Group Inc. | 3,202,446 | 610,899 | |
U.S. Bancorp | 10,105,840 | 575,730 |
Shares | Market Value• ($000) | ||
CME Group Inc. | 2,706,748 | 575,671 | |
Truist Financial Corp. | 10,137,171 | 562,613 | |
Marsh & McLennan Cos. Inc. | 3,840,276 | 540,250 | |
Blackstone Group Inc. | 5,157,588 | 501,008 | |
Chubb Ltd. | 2,881,183 | 457,935 | |
Progressive Corp. | 4,410,737 | 433,178 | |
T Rowe Price Group Inc. | 1,710,008 | 338,530 | |
American International Group Inc. | 6,468,660 | 307,908 | |
Prudential Financial Inc. | 2,969,942 | 304,330 | |
Bank of New York Mellon Corp. | 5,939,253 | 304,268 | |
MetLife Inc. | 4,949,144 | 296,206 | |
Allstate Corp. | 2,256,250 | 294,305 | |
Travelers Cos. Inc. | 1,895,478 | 283,772 | |
Discover Financial Services | 2,298,147 | 271,848 | |
Intercontinental Exchange Inc. | 2,119,173 | 251,546 | |
Aflac Inc. | 4,610,772 | 247,414 | |
KKR & Co. Inc. | 4,166,057 | 246,797 | |
Willis Towers Watson plc | 972,205 | 223,627 | |
Arthur J Gallagher & Co. | 1,553,883 | 217,668 | |
Ameriprise Financial Inc. | 873,679 | 217,441 | |
State Street Corp. | 2,491,016 | 204,961 | |
Fifth Third Bancorp | 5,306,584 | 202,871 | |
Northern Trust Corp. | 1,490,477 | 172,329 | |
Hartford Financial Services Group Inc. | 2,692,519 | 166,855 | |
Huntington Bancshares Inc. | 11,129,031 | 158,811 | |
Nasdaq Inc. | 865,819 | 152,211 | |
KeyCorp. | 7,315,730 | 151,070 | |
Citizens Financial Group Inc. | 3,210,725 | 147,276 | |
Regions Financial Corp. | 7,246,225 | 146,229 | |
M&T Bank Corp. | 969,799 | 140,922 | |
Ally Financial Inc. | 2,794,242 | 139,265 | |
Cincinnati Financial Corp. | 1,153,624 | 134,536 | |
Principal Financial Group Inc. | 2,050,345 | 129,561 | |
Raymond James Financial Inc. | 932,321 | 121,109 | |
* | Arch Capital Group Ltd. | 2,890,305 | 112,548 |
Equitable Holdings Inc. | 3,228,356 | 98,303 | |
Cboe Global Markets Inc. | 803,822 | 95,695 | |
Annaly Capital Management Inc. | 10,541,041 | 93,604 | |
Loews Corp. | 1,686,122 | 92,147 | |
Fidelity National Financial Inc. | 2,069,852 | 89,956 | |
Everest Re Group Ltd. | 302,131 | 76,140 | |
W R Berkley Corp. | 1,002,754 | 74,635 | |
Franklin Resources Inc. | 2,280,907 | 72,966 | |
Globe Life Inc. | 699,103 | 66,590 | |
* | Markel Corp. | 51,837 | 61,515 |
Lincoln National Corp. | 681,730 | 42,840 | |
AGNC Investment Corp. | 1,978,187 | 33,412 | |
* | Alleghany Corp. | 49,853 | 33,255 |
Shares | Market Value• ($000) | ||
Interactive Brokers Group Inc. Class A | 308,085 | 20,250 | |
1 | Rocket Cos. Inc. Class A | 1,028,609 | 19,904 |
* | Berkshire Hathaway Inc. Class A | 14 | 5,860 |
1 | UWM Holdings Corp. | 621,421 | 5,251 |
27,222,028 | |||
Health Care (18.6%) | |||
Johnson & Johnson | 19,849,889 | 3,270,071 | |
UnitedHealth Group Inc. | 7,113,430 | 2,848,502 | |
Pfizer Inc. | 42,193,785 | 1,652,309 | |
Abbott Laboratories | 13,393,217 | 1,552,676 | |
AbbVie Inc. | 13,313,422 | 1,499,624 | |
Eli Lilly & Co. | 6,506,041 | 1,493,266 | |
Merck & Co. Inc. | 19,086,020 | 1,484,320 | |
Medtronic plc | 10,161,418 | 1,261,337 | |
Bristol-Myers Squibb Co. | 16,823,797 | 1,124,166 | |
Amgen Inc. | 4,330,869 | 1,055,649 | |
Anthem Inc. | 1,845,562 | 704,636 | |
Gilead Sciences Inc. | 9,453,651 | 650,978 | |
Danaher Corp. | 2,419,441 | 649,281 | |
Cigna Corp. | 2,586,627 | 613,212 | |
Humana Inc. | 972,479 | 430,536 | |
HCA Healthcare Inc. | 2,031,854 | 420,065 | |
* | Biogen Inc. | 1,134,847 | 392,963 |
Becton Dickinson and Co. | 1,095,149 | 266,329 | |
Zimmer Biomet Holdings Inc. | 1,571,473 | 252,724 | |
* | Laboratory Corp. of America Holdings | 735,989 | 203,023 |
* | Centene Corp. | 2,194,497 | 160,045 |
* | Alexion Pharmaceuticals Inc. | 833,004 | 153,031 |
Baxter International Inc. | 1,895,118 | 152,557 | |
Viatris Inc. | 9,111,065 | 130,197 | |
Quest Diagnostics Inc. | 984,711 | 129,952 | |
* | Hologic Inc. | 1,931,460 | 128,867 |
Cardinal Health Inc. | 2,187,053 | 124,859 | |
* | Elanco Animal Health Inc. (XNYS) | 3,565,384 | 123,683 |
DENTSPLY SIRONA Inc. | 1,645,677 | 104,105 | |
Royalty Pharma plc Class A | 2,368,863 | 97,100 | |
Universal Health Services Inc. Class B | 558,349 | 81,759 | |
* | Henry Schein Inc. | 1,060,571 | 78,684 |
STERIS plc | 356,690 | 73,585 | |
* | DaVita Inc. | 520,344 | 62,665 |
* | agilon health Inc. | 441,794 | 17,924 |
23,444,680 | |||
Industrials (13.9%) | |||
Honeywell International Inc. | 5,235,429 | 1,148,391 | |
Raytheon Technologies Corp. | 11,420,453 | 974,279 | |
Caterpillar Inc. | 4,129,094 | 898,615 | |
General Electric Co. | 66,171,750 | 890,672 | |
3M Co. | 4,369,464 | 867,907 | |
American Express Co. | 4,541,286 | 750,357 | |
Deere & Co. | 2,126,392 | 750,000 | |
United Parcel Service Inc. Class B | 2,726,125 | 566,952 |
Shares | Market Value• ($000) | ||
CSX Corp. | 17,127,312 | 549,444 | |
FedEx Corp. | 1,800,109 | 537,027 | |
Capital One Financial Corp. | 3,403,294 | 526,456 | |
Norfolk Southern Corp. | 1,886,246 | 500,629 | |
Illinois Tool Works Inc. | 2,142,818 | 479,048 | |
Eaton Corp. plc | 3,003,754 | 445,096 | |
Emerson Electric Co. | 4,520,353 | 435,039 | |
Northrop Grumman Corp. | 1,091,983 | 396,859 | |
Johnson Controls International plc | 5,402,824 | 370,796 | |
General Dynamics Corp. | 1,810,681 | 340,879 | |
Lockheed Martin Corp. | 890,372 | 336,872 | |
Trane Technologies plc | 1,802,747 | 331,958 | |
Carrier Global Corp. | 6,550,519 | 318,355 | |
DuPont de Nemours Inc. | 4,011,104 | 310,500 | |
PPG Industries Inc. | 1,787,104 | 303,397 | |
Parker-Hannifin Corp. | 972,799 | 298,756 | |
Cummins Inc. | 1,102,018 | 268,683 | |
Otis Worldwide Corp. | 3,234,729 | 264,504 | |
* | TransDigm Group Inc. | 393,087 | 254,441 |
Stanley Black & Decker Inc. | 1,217,313 | 249,537 | |
PACCAR Inc. | 2,616,719 | 233,542 | |
Synchrony Financial | 4,383,761 | 212,700 | |
* | United Rentals Inc. | 545,601 | 174,052 |
Fortive Corp. | 2,424,077 | 169,055 | |
L3Harris Technologies Inc. | 771,960 | 166,859 | |
Dover Corp. | 1,084,843 | 163,377 | |
Xylem Inc. | 1,357,113 | 162,799 | |
WW Grainger Inc. | 333,881 | 146,240 | |
* | Ingersoll Rand Inc. | 2,845,702 | 138,899 |
Jacobs Engineering Group Inc. | 981,570 | 130,961 | |
Textron Inc. | 1,701,473 | 117,010 | |
AMETEK Inc. | 870,273 | 116,181 | |
Westinghouse Air Brake Technologies Corp. | 1,352,882 | 111,342 | |
Westrock Co. | 2,006,017 | 106,760 | |
Fortune Brands Home & Security Inc. | 1,044,886 | 104,081 | |
Crown Holdings Inc. | 1,016,836 | 103,931 | |
Ball Corp. | 1,237,109 | 100,231 | |
Packaging Corp. of America | 716,040 | 96,966 | |
CH Robinson Worldwide Inc. | 1,002,424 | 93,897 | |
Snap-on Inc. | 407,629 | 91,077 | |
Martin Marietta Materials Inc. | 235,005 | 82,677 | |
Western Union Co. | 3,084,934 | 70,861 | |
Masco Corp. | 956,681 | 56,358 | |
* | XPO Logistics Inc. | 365,852 | 51,179 |
* | Mohawk Industries Inc. | 210,313 | 40,420 |
Hubbell Inc. Class B | 204,711 | 38,248 | |
* | Marqeta Inc. Class A | 356,887 | 10,018 |
17,455,170 | |||
Real Estate (2.9%) | |||
Prologis Inc. | 5,576,033 | 666,503 | |
Simon Property Group Inc. | 2,476,404 | 323,121 | |
Welltower Inc. | 3,147,220 | 261,534 |
Shares | Market Value• ($000) | ||
AvalonBay Communities Inc. | 1,052,312 | 219,607 | |
Equity Residential | 2,678,322 | 206,231 | |
* | CBRE Group Inc. Class A | 2,403,706 | 206,070 |
Weyerhaeuser Co. | 5,647,593 | 194,390 | |
Extra Space Storage Inc. | 1,008,014 | 165,133 | |
Ventas Inc. | 2,827,765 | 161,465 | |
Essex Property Trust Inc. | 489,950 | 146,990 | |
Mid-America Apartment Communities Inc. | 862,997 | 145,346 | |
Healthpeak Properties Inc. | 4,062,293 | 135,234 | |
Duke Realty Corp. | 2,826,630 | 133,841 | |
Boston Properties Inc. | 1,058,810 | 121,329 | |
WP Carey Inc. | 1,340,757 | 100,047 | |
Camden Property Trust | 736,304 | 97,685 | |
Realty Income Corp. | 1,407,819 | 93,958 | |
Iron Mountain Inc. | 2,176,478 | 92,108 | |
UDR Inc. | 1,118,717 | 54,795 | |
* | Host Hotels & Resorts Inc. | 2,661,307 | 45,482 |
VEREIT Inc. | 863,502 | 39,661 | |
* | Opendoor Technologies Inc. | 1,632,862 | 28,951 |
Regency Centers Corp. | 319,871 | 20,494 | |
3,659,975 | |||
Technology (6.2%) | |||
Intel Corp. | 30,437,671 | 1,708,771 | |
Oracle Corp. | 13,041,530 | 1,015,153 | |
International Business Machines Corp. | 6,735,152 | 987,306 | |
Broadcom Inc. | 1,460,697 | 696,519 | |
QUALCOMM Inc. | 4,251,301 | 607,638 | |
TE Connectivity Ltd. | 2,489,169 | 336,561 | |
HP Inc. | 9,396,639 | 283,685 | |
Cognizant Technology Solutions Corp. Class A | 3,975,573 | 275,348 | |
Analog Devices Inc. | 1,390,051 | 239,311 | |
Corning Inc. | 5,775,597 | 236,222 | |
* | Dell Technologies Class C | 1,987,686 | 198,113 |
CDW Corp. | 1,056,861 | 184,581 | |
* | Qorvo Inc. | 848,706 | 166,049 |
* | Western Digital Corp. | 2,194,527 | 156,184 |
Hewlett Packard Enterprise Co. | 9,807,821 | 142,998 | |
NetApp Inc. | 1,677,967 | 137,291 | |
Seagate Technology Holdings plc | 1,552,732 | 136,532 | |
NortonLifeLock Inc. | 4,153,035 | 113,046 | |
* | ON Semiconductor Corp. | 1,609,443 | 61,609 |
Citrix Systems Inc. | 467,613 | 54,837 | |
Leidos Holdings Inc. | 532,997 | 53,886 | |
* | F5 Networks Inc. | 224,691 | 41,941 |
*,1 | UiPath Inc. Class A | 9,000 | 611 |
7,834,192 | |||
Telecommunications (6.2%) | |||
Comcast Corp. Class A | 34,560,480 | 1,970,639 | |
Verizon Communications Inc. | 29,646,546 | 1,661,096 | |
AT&T Inc. | 53,819,711 | 1,548,931 |
Shares | Market Value• ($000) | ||
Cisco Systems Inc. | 28,589,182 | 1,515,227 | |
* | T-Mobile US Inc. | 4,229,402 | 612,544 |
Motorola Solutions Inc. | 639,503 | 138,676 | |
Lumen Technologies Inc. | 8,331,980 | 113,232 | |
* | Liberty Broadband Corp. Class C | 572,395 | 99,402 |
* | DISH Network Corp. Class A | 1,851,447 | 77,390 |
Juniper Networks Inc. | 1,235,294 | 33,785 | |
* | Liberty Broadband Corp. Class A | 91,520 | 15,391 |
7,786,313 | |||
Utilities (5.9%) | |||
NextEra Energy Inc. | 14,784,837 | 1,083,433 | |
Duke Energy Corp. | 5,798,117 | 572,390 | |
Southern Co. | 7,987,270 | 483,310 | |
Dominion Energy Inc. | 6,079,307 | 447,255 | |
Waste Management Inc. | 3,181,220 | 445,721 | |
Exelon Corp. | 7,362,593 | 326,236 | |
American Electric Power Co. Inc. | 3,766,906 | 318,643 | |
Sempra Energy | 2,281,681 | 302,277 | |
Xcel Energy Inc. | 4,056,838 | 267,264 | |
Public Service Enterprise Group Inc. | 3,810,290 | 227,627 | |
WEC Energy Group Inc. | 2,377,659 | 211,493 | |
American Water Works Co. Inc. | 1,367,805 | 210,820 | |
Eversource Energy | 2,588,913 | 207,734 | |
DTE Energy Co. | 1,460,323 | 189,258 | |
Consolidated Edison Inc. | 2,584,070 | 185,329 | |
Republic Services Inc. Class A | 1,563,078 | 171,954 | |
Edison International | 2,860,147 | 165,374 | |
PPL Corp. | 5,509,736 | 154,107 | |
Ameren Corp. | 1,925,233 | 154,096 | |
FirstEnergy Corp. | 4,099,854 | 152,556 | |
Entergy Corp. | 1,512,564 | 150,803 | |
AES Corp. | 5,022,250 | 130,930 | |
CMS Energy Corp. | 2,181,879 | 128,905 | |
* | PG&E Corp. | 11,222,698 | 114,135 |
CenterPoint Energy Inc. | 4,375,517 | 107,288 | |
Alliant Energy Corp. | 1,885,436 | 105,132 | |
Evergy Inc. | 1,711,026 | 103,397 | |
NiSource Inc. | 2,956,589 | 72,436 | |
Vistra Corp. | 3,633,589 | 67,403 | |
NRG Energy Inc. | 922,511 | 37,177 | |
Pinnacle West Capital Corp. | 424,957 | 34,834 | |
Avangrid Inc. | 583,614 | 30,015 | |
7,359,332 | |||
Total Common Stocks (Cost $90,720,490) | 125,606,195 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.1%) | |||
Money Market Fund (0.1%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.056% (Cost $97,159) | 971,719 | 97,172 |
Total Investments (99.9%) (Cost $90,817,649) | 125,703,367 | ||
Other Assets and Liabilities— Net (0.1%) | 97,406 | ||
Net Assets (100%) | 125,800,773 | ||
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 $26,576,000. |
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 $27,721,000 was received for securities on loan, of which $26,765,000 is held in Vanguard Market Liquidity Fund and $956,000 is held in cash. |
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 2021 | 514 | 110,217 | 733 |
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) |
Charles Schwab Corp. | 8/31/21 | BOANA | 50,968 | (0.086) | — | (4) |
Keurig Dr Pepper Inc. | 8/31/21 | BOANA | 17,620 | (0.086) | 93 | — |
Kroger Co. | 1/31/22 | GSI | 37,870 | (0.082) | 439 | — |
532 | (4) |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
�� | 1M—1-month. |
BOANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $90,720,490) | 125,606,195 |
Affiliated Issuers (Cost $97,159) | 97,172 |
Total Investments in Securities | 125,703,367 |
Investment in Vanguard | 4,393 |
Cash | 26,233 |
Cash Collateral Pledged—Futures Contracts | 4,951 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 1,530 |
Receivables for Investment Securities Sold | 10,935 |
Receivables for Accrued Income | 142,521 |
Receivables for Capital Shares Issued | 35,566 |
Variation Margin Receivable—Futures Contracts | 147 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 532 |
Total Assets | 125,930,175 |
Liabilities | |
Payables for Investment Securities Purchased | 45,862 |
Collateral for Securities on Loan | 27,721 |
Payables for Capital Shares Redeemed | 53,617 |
Payables to Vanguard | 2,198 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 4 |
Total Liabilities | 129,402 |
Net Assets | 125,800,773 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 92,490,635 |
Total Distributable Earnings (Loss) | 33,310,138 |
Net Assets | 125,800,773 |
Investor Shares—Net Assets | |
Applicable to 5,130,206 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 275,200 |
Net Asset Value Per Share—Investor Shares | $53.64 |
ETF Shares—Net Assets | |
Applicable to 594,573,438 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 81,733,733 |
Net Asset Value Per Share—ETF Shares | $137.47 |
Admiral Shares—Net Assets | |
Applicable to 547,817,786 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 29,377,795 |
Net Asset Value Per Share—Admiral Shares | $53.63 |
Institutional Shares—Net Assets | |
Applicable to 268,794,764 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 14,414,045 |
Net Asset Value Per Share—Institutional Shares | $53.62 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 1,334,903 |
Interest1 | 73 |
Securities Lending—Net | 2,594 |
Total Income | 1,337,570 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,789 |
Management and Administrative—Investor Shares | 225 |
Management and Administrative—ETF Shares | 10,660 |
Management and Administrative—Admiral Shares | 5,679 |
Management and Administrative—Institutional Shares | 2,200 |
Marketing and Distribution—Investor Shares | 7 |
Marketing and Distribution—ETF Shares | 1,042 |
Marketing and Distribution—Admiral Shares | 412 |
Marketing and Distribution—Institutional Shares | 170 |
Custodian Fees | 373 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 1,385 |
Shareholders’ Reports—Admiral Shares | 114 |
Shareholders’ Reports—Institutional Shares | 49 |
Trustees’ Fees and Expenses | 15 |
Total Expenses | 24,121 |
Net Investment Income | 1,313,449 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 1,798,865 |
Futures Contracts | 22,141 |
Swap Contracts | 26,571 |
Realized Net Gain (Loss) | 1,847,577 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 13,818,695 |
Futures Contracts | (193) |
Swap Contracts | (3,791) |
Change in Unrealized Appreciation (Depreciation) | 13,814,711 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 16,975,737 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $71,000, $17,000, and ($17,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $1,644,736,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 1,313,449 | 2,385,409 | |
Realized Net Gain (Loss) | 1,847,577 | 999,499 | |
Change in Unrealized Appreciation (Depreciation) | 13,814,711 | (862,492) | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 16,975,737 | 2,522,416 | |
Distributions | |||
Investor Shares | (2,911) | (7,153) | |
ETF Shares | (830,092) | (1,491,672) | |
Admiral Shares | (303,080) | (569,513) | |
Institutional Shares | (150,348) | (322,802) | |
Total Distributions | (1,286,431) | (2,391,140) | |
Capital Share Transactions | |||
Investor Shares | (38,982) | (45,817) | |
ETF Shares | 10,181,286 | 5,496,388 | |
Admiral Shares | 3,120,027 | 138,688 | |
Institutional Shares | (69,483) | 65,298 | |
Net Increase (Decrease) from Capital Share Transactions | 13,192,848 | 5,654,557 | |
Total Increase (Decrease) | 28,882,154 | 5,785,833 | |
Net Assets | |||
Beginning of Period | 96,918,619 | 91,132,786 | |
End of Period | 125,800,773 | 96,918,619 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $46.43 | $46.78 | $38.18 | $41.42 | $36.24 | $31.82 |
Investment Operations | ||||||
Net Investment Income | .5601 | 1.1421 | 1.0931 | 1.0091 | .9181 | .850 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.181 | (.362) | 8.623 | (3.261) | 5.166 | 4.415 |
Total from Investment Operations | 7.741 | .780 | 9.716 | (2.252) | 6.084 | 5.265 |
Distributions | ||||||
Dividends from Net Investment Income | (.531) | (1.130) | (1.116) | (.988) | (.904) | (.845) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.531) | (1.130) | (1.116) | (.988) | (.904) | (.845) |
Net Asset Value, End of Period | $53.64 | $46.43 | $46.78 | $38.18 | $41.42 | $36.24 |
Total Return2 | 16.72% | 2.18% | 25.67% | -5.55% | 16.99% | 16.75% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $275 | $273 | $328 | $1,381 | $1,626 | $1,587 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.18% |
Ratio of Net Investment Income to Average Net Assets | 2.19% | 2.75% | 2.58% | 2.43% | 2.40% | 2.64% |
Portfolio Turnover Rate3 | 5% | 10% | 12% | 8% | 9% | 7% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $118.98 | $119.90 | $97.84 | $106.14 | $92.87 | $81.56 |
Investment Operations | ||||||
Net Investment Income | 1.5171 | 3.0551 | 3.0461 | 2.7221 | 2.4731 | 2.282 |
Net Realized and Unrealized Gain (Loss) on Investments | 18.421 | (.935) | 22.014 | (8.352) | 13.234 | 11.301 |
Total from Investment Operations | 19.938 | 2.120 | 25.060 | (5.630) | 15.707 | 13.583 |
Distributions | ||||||
Dividends from Net Investment Income | (1.448) | (3.040) | (3.000) | (2.670) | (2.437) | (2.273) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.448) | (3.040) | (3.000) | (2.670) | (2.437) | (2.273) |
Net Asset Value, End of Period | $137.47 | $118.98 | $119.90 | $97.84 | $106.14 | $92.87 |
Total Return | 16.80% | 2.23% | 25.85% | -5.39% | 17.12% | 16.88% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $81,734 | $61,580 | $55,909 | $41,510 | $36,560 | $27,126 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 2.31% | 2.87% | 2.76% | 2.56% | 2.52% | 2.76% |
Portfolio Turnover Rate2 | 5% | 10% | 12% | 8% | 9% | 7% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $46.41 | $46.77 | $38.17 | $41.41 | $36.23 | $31.82 |
Investment Operations | ||||||
Net Investment Income | .5891 | 1.1881 | 1.1851 | 1.0591 | .9651 | .890 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.193 | (.367) | 8.581 | (3.261) | 5.165 | 4.407 |
Total from Investment Operations | 7.782 | .821 | 9.766 | (2.202) | 6.130 | 5.297 |
Distributions | ||||||
Dividends from Net Investment Income | (.562) | (1.181) | (1.166) | (1.038) | (.950) | (.887) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.562) | (1.181) | (1.166) | (1.038) | (.950) | (.887) |
Net Asset Value, End of Period | $53.63 | $46.41 | $46.77 | $38.17 | $41.41 | $36.23 |
Total Return2 | 16.82% | 2.29% | 25.82% | -5.43% | 17.13% | 16.86% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $29,378 | $22,486 | $22,414 | $16,522 | $16,778 | $13,424 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 2.30% | 2.86% | 2.75% | 2.55% | 2.52% | 2.76% |
Portfolio Turnover Rate3 | 5% | 10% | 12% | 8% | 9% | 7% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $46.41 | $46.77 | $38.17 | $41.41 | $36.23 | $31.82 |
Investment Operations | ||||||
Net Investment Income | .5921 | 1.1931 | 1.1891 | 1.0631 | .9691 | .893 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.183 | (.368) | 8.581 | (3.260) | 5.165 | 4.407 |
Total from Investment Operations | 7.775 | .825 | 9.770 | (2.197) | 6.134 | 5.300 |
Distributions | ||||||
Dividends from Net Investment Income | (.565) | (1.185) | (1.170) | (1.043) | (.954) | (.890) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.565) | (1.185) | (1.170) | (1.043) | (.954) | (.890) |
Net Asset Value, End of Period | $53.62 | $46.41 | $46.77 | $38.17 | $41.41 | $36.23 |
Total Return | 16.80% | 2.30% | 25.83% | -5.42% | 17.14% | 16.87% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $14,414 | $12,579 | $12,481 | $9,789 | $10,085 | $8,684 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.31% | 2.87% | 2.76% | 2.56% | 2.53% | 2.77% |
Portfolio Turnover Rate2 | 5% | 10% | 12% | 8% | 9% | 7% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 125,606,195 | — | — | 125,606,195 |
Temporary Cash Investments | 97,172 | — | — | 97,172 |
Total | 125,703,367 | — | — | 125,703,367 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 733 | — | — | 733 |
Swap Contracts | — | 532 | — | 532 |
Total | 733 | 532 | — | 1,265 |
Liabilities | ||||
Swap Contracts | — | 4 | — | 4 |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 90,838,161 |
Gross Unrealized Appreciation | 36,592,078 |
Gross Unrealized Depreciation | (1,726,139) |
Net Unrealized Appreciation (Depreciation) | 34,865,939 |
E. | During the six months ended June 30, 2021, the fund purchased $20,795,946,000 of investment securities and sold $8,628,883,000 of investment securities, other than temporary cash investments. Purchases and sales include $13,580,408,000 and $3,356,566,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 29,929 | 588 | 30,119 | 734 | |
Issued in Lieu of Cash Distributions | 2,911 | 56 | 7,153 | 186 | |
Redeemed | (71,822) | (1,399) | (83,089) | (2,048) | |
Net Increase (Decrease)—Investor Shares | (38,982) | (755) | (45,817) | (1,128) | |
ETF Shares | |||||
Issued | 14,037,976 | 106,013 | 12,323,003 | 114,853 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,856,690) | (29,025) | (6,826,615) | (63,575) | |
Net Increase (Decrease)—ETF Shares | 10,181,286 | 76,988 | 5,496,388 | 51,278 | |
Admiral Shares | |||||
Issued | 4,170,090 | 82,759 | 5,109,104 | 126,982 | |
Issued in Connection with Acquisition of Vanguard Capital Value Fund | 1,035,654 | 21,626 | — | — | |
Issued in Lieu of Cash Distributions | 263,939 | 5,112 | 491,886 | 12,702 | |
Redeemed | (2,349,656) | (46,155) | (5,462,302) | (134,427) | |
Net Increase (Decrease)—Admiral Shares | 3,120,027 | 63,342 | 138,688 | 5,257 | |
Institutional Shares | |||||
Issued | 1,528,375 | 29,918 | 2,756,913 | 66,872 | |
Issued in Lieu of Cash Distributions | 143,974 | 2,789 | 292,134 | 7,539 | |
Redeemed | (1,741,832) | (34,936) | (2,983,749) | (70,252) | |
Net Increase (Decrease)—Institutional Shares | (69,483) | (2,229) | 65,298 | 4,159 |
G. | On February 5, 2021, the fund acquired all the net assets of Vanguard U.S. Value Fund pursuant to a plan of reorganization approved by the funds’ boards of trustees on July 23, 2020, and by the shareholders of the U.S. Value Fund at a special meeting on January 22, 2021. The purpose of the transaction was to consolidate the assets of the two funds, placing U.S. Value Fund shareholders in a comparable fund with better historical long-term investment performance; delivering a large expense ratio reduction for U.S. Value Fund shareholders; and creating a larger combined fund, which we anticipate, over time, will achieve greater economies of scale. The acquisition was accomplished by a tax-free exchange of 21.6 million Admiral Shares of the Value Index Fund for the 60.0 million shares of the U.S. Value Fund outstanding on February 5, 2021. The U.S. Value Fund’s net assets of $1.0 billion, including $156.3 million of unrealized appreciation, were combined with the Value Index Fund’s net assets of $101.5 billion, resulting in combined net assets of $102.5 billion on February 5, 2021. |
($000) | |
Net Investment Income | 1,315,380 |
Realized Net Gain (Loss) | 1,983,579 |
Change in Unrealized Appreciation (Depreciation) | 13,722,947 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 17,021,906 |
H. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
Basic Materials | 1.7% |
Consumer Discretionary | 16.0 |
Consumer Staples | 5.0 |
Energy | 2.7 |
Financials | 10.7 |
Health Care | 12.6 |
Industrials | 13.3 |
Real Estate | 2.7 |
Technology | 29.5 |
Telecommunications | 3.2 |
Utilities | 2.6 |
Shares | Market Value• ($000) | ||
Common Stocks (99.8%) | |||
Basic Materials (1.7%) | |||
Linde plc | 512,876 | 148,273 | |
Air Products and Chemicals Inc. | 218,271 | 62,792 | |
Freeport-McMoRan Inc. | 1,445,415 | 53,639 | |
Ecolab Inc. | 253,809 | 52,277 | |
Newmont Corp. | 790,164 | 50,081 | |
Dow Inc. | 734,996 | 46,511 | |
International Flavors & Fragrances Inc. | 245,506 | 36,679 | |
Fastenal Co. | 566,467 | 29,456 | |
Nucor Corp. | 295,132 | 28,312 | |
LyondellBasell Industries NV Class A | 263,803 | 27,137 | |
International Paper Co. | 386,371 | 23,688 | |
Albemarle Corp. | 115,114 | 19,392 | |
Avery Dennison Corp. | 81,870 | 17,212 | |
Celanese Corp. Class A | 111,083 | 16,840 | |
Eastman Chemical Co. | 134,636 | 15,719 | |
FMC Corp. | 127,104 | 13,753 | |
CF Industries Holdings Inc. | 105,779 | 5,442 | |
Westlake Chemical Corp. | 15,962 | 1,438 | |
648,641 | |||
Consumer Discretionary (16.0%) | |||
* | Amazon.com Inc. | 422,791 | 1,454,469 |
* | Tesla Inc. | 760,093 | 516,635 |
Home Depot Inc. | 1,048,676 | 334,412 | |
* | Walt Disney Co. | 1,791,993 | 314,979 |
* | Netflix Inc. | 437,317 | 230,995 |
Walmart Inc. | 1,387,436 | 195,656 | |
NIKE Inc. Class B | 1,257,460 | 194,265 | |
Costco Wholesale Corp. | 436,462 | 172,695 | |
McDonald's Corp. | 735,935 | 169,994 | |
Lowe's Cos. Inc. | 705,198 | 136,787 | |
Starbucks Corp. | 1,162,136 | 129,938 | |
Target Corp. | 489,285 | 118,280 | |
* | Booking Holdings Inc. | 40,483 | 88,580 |
* | General Motors Co. | 1,287,691 | 76,193 |
TJX Cos. Inc. | 1,129,979 | 76,183 | |
Activision Blizzard Inc. | 766,355 | 73,141 | |
Estee Lauder Cos. Inc. Class A | 217,275 | 69,111 | |
* | Uber Technologies Inc. | 1,292,176 | 64,764 |
* | Ford Motor Co. | 3,866,998 | 57,464 |
Dollar General Corp. | 235,989 | 51,066 | |
eBay Inc. | 638,320 | 44,816 |
Shares | Market Value• ($000) | ||
Ross Stores Inc. | 351,719 | 43,613 | |
* | Chipotle Mexican Grill Inc. Class A | 27,770 | 43,053 |
* | Lululemon Athletica Inc. | 117,246 | 42,791 |
* | Aptiv plc | 266,754 | 41,968 |
Electronic Arts Inc. | 282,267 | 40,598 | |
* | O'Reilly Automotive Inc. | 68,801 | 38,956 |
* | Marriott International Inc. Class A | 256,943 | 35,078 |
Yum! Brands Inc. | 293,818 | 33,798 | |
* | Hilton Worldwide Holdings Inc. | 274,723 | 33,137 |
* | Trade Desk Inc. Class A | 425,241 | 32,897 |
* | AutoZone Inc. | 21,736 | 32,435 |
* | Peloton Interactive Inc. Class A | 251,812 | 31,230 |
* | Southwest Airlines Co. | 583,255 | 30,965 |
DR Horton Inc. | 320,028 | 28,921 | |
* | Copart Inc. | 209,999 | 27,684 |
*,1 | AMC Entertainment Holdings Inc. Class A | 486,288 | 27,563 |
Lennar Corp. Class A | 274,941 | 27,315 | |
* | Delta Air Lines Inc. | 630,865 | 27,291 |
VF Corp. | 328,383 | 26,941 | |
* | Etsy Inc. | 125,358 | 25,804 |
ViacomCBS Inc. Class B | 570,454 | 25,785 | |
Best Buy Co. Inc. | 222,276 | 25,557 | |
* | Carvana Co. Class A | 79,867 | 24,105 |
* | Wayfair Inc. Class A | 72,747 | 22,967 |
* | Dollar Tree Inc. | 230,802 | 22,965 |
* | Roblox Corp. Class A | 254,555 | 22,905 |
* | Expedia Group Inc. | 139,514 | 22,840 |
Garmin Ltd. | 151,609 | 21,929 | |
* | Airbnb Inc. Class A | 142,864 | 21,878 |
* | Las Vegas Sands Corp. | 414,410 | 21,835 |
* | Carnival Corp. | 816,166 | 21,514 |
Tractor Supply Co. | 113,672 | 21,150 | |
* | Burlington Stores Inc. | 65,634 | 21,133 |
* | CarMax Inc. | 160,913 | 20,782 |
* | Caesars Entertainment Inc. | 195,503 | 20,283 |
* | Take-Two Interactive Software Inc. | 114,065 | 20,192 |
* | Ulta Beauty Inc. | 54,624 | 18,887 |
Darden Restaurants Inc. | 129,046 | 18,839 | |
* | Royal Caribbean Cruises Ltd. | 213,427 | 18,201 |
Genuine Parts Co. | 142,486 | 18,020 | |
Domino's Pizza Inc. | 38,294 | 17,864 |
Shares | Market Value• ($000) | ||
MGM Resorts International | 411,242 | 17,539 | |
Omnicom Group Inc. | 212,120 | 16,967 | |
* | NVR Inc. | 3,400 | 16,909 |
* | United Airlines Holdings Inc. | 319,140 | 16,688 |
* | Lyft Inc. Class A | 252,943 | 15,298 |
* | DraftKings Inc. Class A | 276,840 | 14,443 |
Whirlpool Corp. | 61,768 | 13,467 | |
PulteGroup Inc. | 246,433 | 13,448 | |
Advance Auto Parts Inc. | 64,540 | 13,240 | |
* | Wynn Resorts Ltd. | 102,672 | 12,557 |
Fox Corp. Class A | 336,730 | 12,503 | |
* | LKQ Corp. | 253,309 | 12,468 |
* | Live Nation Entertainment Inc. | 140,196 | 12,280 |
Hasbro Inc. | 128,892 | 12,183 | |
BorgWarner Inc. (XNYS) | 236,560 | 11,483 | |
News Corp. Class A | 386,990 | 9,973 | |
* | Discovery Inc. Class C | 309,272 | 8,963 |
L Brands Inc. | 109,982 | 7,925 | |
Rollins Inc. | 218,416 | 7,470 | |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 157,465 | 7,305 |
* | American Airlines Group Inc. | 316,289 | 6,708 |
Interpublic Group of Cos. Inc. | 194,483 | 6,319 | |
* | Vail Resorts Inc. | 19,859 | 6,286 |
* | GameStop Corp. Class A | 29,287 | 6,271 |
* | Penn National Gaming Inc. | 76,894 | 5,882 |
*,1 | Chewy Inc. Class A | 72,443 | 5,774 |
Sirius XM Holdings Inc. | 806,884 | 5,277 | |
Lear Corp. | 29,655 | 5,198 | |
*,1 | Discovery Inc. Class A | 158,071 | 4,850 |
Fox Corp. Class B | 134,700 | 4,741 | |
Aramark | 125,736 | 4,684 | |
* | QuantumScape Corp. Class A | 128,037 | 3,746 |
Warner Music Group Corp. Class A | 92,243 | 3,324 | |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 62,581 | 2,915 |
News Corp. Class B | 116,863 | 2,846 | |
Lennar Corp. Class B | 10,911 | 889 | |
ViacomCBS Inc. Class A | 7,253 | 351 | |
* | Endeavor Group Holdings Inc. Class A | 1,240 | 34 |
6,021,296 | |||
Consumer Staples (5.0%) | |||
Procter & Gamble Co. | 2,414,640 | 325,807 | |
Coca-Cola Co. | 3,827,254 | 207,093 | |
PepsiCo Inc. | 1,362,674 | 201,907 | |
Philip Morris International Inc. | 1,537,142 | 152,346 | |
CVS Health Corp. | 1,298,496 | 108,347 | |
Altria Group Inc. | 1,825,260 | 87,028 | |
Mondelez International Inc. Class A | 1,385,434 | 86,507 | |
Colgate-Palmolive Co. | 834,352 | 67,875 | |
Kimberly-Clark Corp. | 332,802 | 44,522 | |
Walgreens Boots Alliance Inc. | 724,658 | 38,124 | |
Constellation Brands Inc. Class A | 159,424 | 37,288 |
Shares | Market Value• ($000) | ||
Sysco Corp. | 479,335 | 37,268 | |
General Mills Inc. | 601,607 | 36,656 | |
Archer-Daniels-Midland Co. | 551,037 | 33,393 | |
* | Monster Beverage Corp. | 364,924 | 33,336 |
Corteva Inc. | 728,182 | 32,295 | |
McKesson Corp. | 156,018 | 29,837 | |
Kraft Heinz Co. | 663,477 | 27,057 | |
Kroger Co. | 672,065 | 25,747 | |
Hershey Co. | 144,364 | 25,145 | |
Keurig Dr Pepper Inc. | 698,974 | 24,632 | |
Brown-Forman Corp. Class B | 306,231 | 22,949 | |
Clorox Co. | 122,664 | 22,068 | |
McCormick & Co. Inc. | 245,588 | 21,690 | |
Tyson Foods Inc. Class A | 290,730 | 21,444 | |
Church & Dwight Co. Inc. | 241,873 | 20,612 | |
Conagra Brands Inc. | 473,359 | 17,221 | |
AmerisourceBergen Corp. Class A | 141,816 | 16,237 | |
Kellogg Co. | 251,875 | 16,203 | |
J M Smucker Co. | 102,683 | 13,305 | |
Hormel Foods Corp. | 266,366 | 12,719 | |
Lamb Weston Holdings Inc. | 144,273 | 11,637 | |
Campbell Soup Co. | 194,257 | 8,856 | |
* | Molson Coors Beverage Co. Class B | 89,005 | 4,779 |
Brown-Forman Corp. Class A | 40,728 | 2,871 | |
1,874,801 | |||
Energy (2.7%) | |||
Exxon Mobil Corp. | 4,175,449 | 263,387 | |
Chevron Corp. | 1,906,192 | 199,655 | |
ConocoPhillips | 1,330,912 | 81,052 | |
EOG Resources Inc. | 575,598 | 48,028 | |
Schlumberger NV | 1,379,149 | 44,147 | |
Marathon Petroleum Corp. | 643,691 | 38,892 | |
Phillips 66 | 431,861 | 37,062 | |
Pioneer Natural Resources Co. | 216,544 | 35,193 | |
Kinder Morgan Inc. | 1,898,476 | 34,609 | |
Williams Cos. Inc. | 1,198,084 | 31,809 | |
Valero Energy Corp. | 403,153 | 31,478 | |
Occidental Petroleum Corp. | 874,611 | 27,349 | |
ONEOK Inc. | 439,426 | 24,450 | |
Hess Corp. | 273,776 | 23,906 | |
* | Cheniere Energy Inc. | 225,048 | 19,521 |
Halliburton Co. | 833,647 | 19,274 | |
* | Plug Power Inc. | 560,496 | 19,163 |
Baker Hughes Co. Class A | 725,041 | 16,582 | |
* | Enphase Energy Inc. | 60,227 | 11,059 |
Devon Energy Corp. | 333,666 | 9,740 | |
1,016,356 | |||
Financials (10.7%) | |||
* | Berkshire Hathaway Inc. Class B | 1,753,846 | 487,429 |
JPMorgan Chase & Co. | 2,985,601 | 464,380 | |
Bank of America Corp. | 7,606,583 | 313,619 | |
Wells Fargo & Co. | 4,076,860 | 184,641 | |
Citigroup Inc. | 2,038,690 | 144,237 | |
Morgan Stanley | 1,468,053 | 134,606 |
Shares | Market Value• ($000) | ||
Goldman Sachs Group Inc. | 335,104 | 127,182 | |
BlackRock Inc. | 135,388 | 118,460 | |
Charles Schwab Corp. | 1,514,915 | 110,301 | |
S&P Global Inc. | 237,597 | 97,522 | |
PNC Financial Services Group Inc. | 419,024 | 79,933 | |
U.S. Bancorp | 1,322,314 | 75,332 | |
CME Group Inc. | 354,166 | 75,324 | |
Truist Financial Corp. | 1,326,401 | 73,615 | |
Marsh & McLennan Cos. Inc. | 502,487 | 70,690 | |
Intercontinental Exchange Inc. | 555,034 | 65,883 | |
Blackstone Group Inc. | 674,843 | 65,554 | |
Chubb Ltd. | 376,993 | 59,919 | |
Moody's Corp. | 156,935 | 56,869 | |
Progressive Corp. | 577,122 | 56,679 | |
Aon plc Class A (XNYS) | 211,427 | 50,480 | |
T Rowe Price Group Inc. | 223,743 | 44,294 | |
MSCI Inc. Class A | 77,221 | 41,165 | |
American International Group Inc. | 846,369 | 40,287 | |
Prudential Financial Inc. | 388,596 | 39,819 | |
Bank of New York Mellon Corp. | 777,118 | 39,812 | |
MetLife Inc. | 647,560 | 38,756 | |
Allstate Corp. | 295,219 | 38,508 | |
Travelers Cos. Inc. | 248,009 | 37,129 | |
Discover Financial Services | 300,704 | 35,570 | |
First Republic Bank | 173,826 | 32,535 | |
Aflac Inc. | 603,300 | 32,373 | |
KKR & Co. Inc. | 545,103 | 32,292 | |
* | Coinbase Global Inc. Class A | 118,870 | 30,110 |
* | SVB Financial Group | 53,567 | 29,806 |
Willis Towers Watson plc | 127,207 | 29,260 | |
Arthur J Gallagher & Co. | 203,396 | 28,492 | |
Ameriprise Financial Inc. | 114,309 | 28,449 | |
State Street Corp. | 325,915 | 26,816 | |
Fifth Third Bancorp | 694,310 | 26,544 | |
Northern Trust Corp. | 195,016 | 22,548 | |
Hartford Financial Services Group Inc. | 352,286 | 21,831 | |
Huntington Bancshares Inc. | 1,456,185 | 20,780 | |
Nasdaq Inc. | 113,283 | 19,915 | |
KeyCorp. | 957,216 | 19,767 | |
Citizens Financial Group Inc. | 420,089 | 19,270 | |
Regions Financial Corp. | 948,104 | 19,133 | |
Broadridge Financial Solutions Inc. | 114,524 | 18,499 | |
M&T Bank Corp. | 126,889 | 18,438 | |
Ally Financial Inc. | 365,586 | 18,221 | |
Cincinnati Financial Corp. | 150,937 | 17,602 | |
Principal Financial Group Inc. | 268,288 | 16,953 | |
MarketAxess Holdings Inc. | 35,593 | 16,501 | |
* | Markel Corp. | 13,572 | 16,106 |
Raymond James Financial Inc. | 121,970 | 15,844 | |
* | Arch Capital Group Ltd. | 378,177 | 14,726 |
Equitable Holdings Inc. | 422,365 | 12,861 | |
FactSet Research Systems Inc. | 37,332 | 12,529 |
Shares | Market Value• ($000) | ||
Cboe Global Markets Inc. | 105,217 | 12,526 | |
Annaly Capital Management Inc. | 1,379,264 | 12,248 | |
Loews Corp. | 220,616 | 12,057 | |
Fidelity National Financial Inc. | 270,835 | 11,771 | |
Everest Re Group Ltd. | 39,530 | 9,962 | |
W R Berkley Corp. | 131,211 | 9,766 | |
Franklin Resources Inc. | 298,449 | 9,547 | |
Tradeweb Markets Inc. Class A | 103,294 | 8,735 | |
Globe Life Inc. | 91,463 | 8,712 | |
Lincoln National Corp. | 89,192 | 5,605 | |
Interactive Brokers Group Inc. Class A | 80,616 | 5,299 | |
AGNC Investment Corp. | 258,815 | 4,371 | |
* | Alleghany Corp. | 6,509 | 4,342 |
SEI Investments Co. | 63,382 | 3,928 | |
Rocket Cos. Inc. Class A | 134,604 | 2,605 | |
* | Berkshire Hathaway Inc. Class A | 6 | 2,512 |
1 | UWM Holdings Corp. | 81,330 | 687 |
4,010,869 | |||
Health Care (12.5%) | |||
Johnson & Johnson | 2,597,254 | 427,872 | |
UnitedHealth Group Inc. | 930,752 | 372,710 | |
Pfizer Inc. | 5,520,858 | 216,197 | |
Abbott Laboratories | 1,752,434 | 203,160 | |
AbbVie Inc. | 1,741,990 | 196,218 | |
Thermo Fisher Scientific Inc. | 387,636 | 195,551 | |
Eli Lilly & Co. | 851,280 | 195,386 | |
Merck & Co. Inc. | 2,497,311 | 194,216 | |
Danaher Corp. | 633,145 | 169,911 | |
Medtronic plc | 1,329,578 | 165,040 | |
Bristol-Myers Squibb Co. | 2,202,206 | 147,151 | |
Amgen Inc. | 566,674 | 138,127 | |
* | Intuitive Surgical Inc. | 116,795 | 107,409 |
Anthem Inc. | 241,477 | 92,196 | |
Zoetis Inc. | 468,254 | 87,264 | |
Gilead Sciences Inc. | 1,236,964 | 85,177 | |
Stryker Corp. | 315,847 | 82,035 | |
Cigna Corp. | 338,441 | 80,234 | |
* | Moderna Inc. | 336,607 | 79,096 |
Becton Dickinson and Co. | 286,825 | 69,753 | |
* | Illumina Inc. | 143,992 | 68,138 |
* | Edwards Lifesciences Corp. | 613,113 | 63,500 |
* | Boston Scientific Corp. | 1,401,413 | 59,924 |
Humana Inc. | 127,244 | 56,333 | |
HCA Healthcare Inc. | 265,858 | 54,963 | |
* | Regeneron Pharmaceuticals Inc. | 98,093 | 54,789 |
* | IDEXX Laboratories Inc. | 84,106 | 53,117 |
* | Vertex Pharmaceuticals Inc. | 255,310 | 51,478 |
* | Biogen Inc. | 148,491 | 51,418 |
* | IQVIA Holdings Inc. | 189,025 | 45,805 |
* | Align Technology Inc. | 74,150 | 45,306 |
Agilent Technologies Inc. | 301,797 | 44,609 | |
* | Veeva Systems Inc. Class A | 136,100 | 42,320 |
* | Centene Corp. | 574,743 | 41,916 |
* | DexCom Inc. | 95,384 | 40,729 |
Shares | Market Value• ($000) | ||
* | Alexion Pharmaceuticals Inc. | 217,979 | 40,045 |
Baxter International Inc. | 495,946 | 39,924 | |
ResMed Inc. | 143,517 | 35,380 | |
Zimmer Biomet Holdings Inc. | 205,622 | 33,068 | |
* | Laboratory Corp. of America Holdings | 96,302 | 26,565 |
West Pharmaceutical Services Inc. | 72,815 | 26,148 | |
Cerner Corp. | 297,191 | 23,228 | |
* | Teladoc Health Inc. | 137,163 | 22,809 |
* | Seagen Inc. | 134,242 | 21,194 |
* | Exact Sciences Corp. | 169,203 | 21,034 |
* | Horizon Therapeutics plc | 221,641 | 20,754 |
* | Alnylam Pharmaceuticals Inc. | 115,934 | 19,653 |
STERIS plc | 93,358 | 19,260 | |
Cooper Cos. Inc. | 48,477 | 19,210 | |
Teleflex Inc. | 46,089 | 18,518 | |
* | Insulet Corp. | 65,368 | 17,944 |
Viatris Inc. | 1,192,075 | 17,035 | |
Quest Diagnostics Inc. | 128,842 | 17,003 | |
* | Hologic Inc. | 252,721 | 16,862 |
Cardinal Health Inc. | 286,173 | 16,338 | |
* | Elanco Animal Health Inc. (XNYS) | 466,503 | 16,183 |
* | Incyte Corp. | 184,378 | 15,512 |
* | 10X Genomics Inc. Class A | 77,441 | 15,164 |
* | BioMarin Pharmaceutical Inc. | 180,233 | 15,039 |
* | ABIOMED Inc. | 44,676 | 13,944 |
DENTSPLY SIRONA Inc. | 215,326 | 13,621 | |
Royalty Pharma plc Class A | 309,960 | 12,705 | |
Universal Health Services Inc. Class B | 73,061 | 10,698 | |
* | Henry Schein Inc. | 138,773 | 10,296 |
* | Novocure Ltd. | 43,329 | 9,611 |
* | Catalent Inc. | 83,999 | 9,082 |
* | DaVita Inc. | 68,080 | 8,199 |
* | Oak Street Health Inc. | 118,743 | 6,955 |
* | Bio-Rad Laboratories Inc. Class A | 10,344 | 6,665 |
* | PPD Inc. | 121,226 | 5,587 |
* | agilon health Inc. | 57,814 | 2,345 |
*,1 | GoodRx Holdings Inc. Class A | 58,311 | 2,100 |
4,724,726 | |||
Industrials (13.2%) | |||
Visa Inc. Class A | 1,668,597 | 390,151 | |
* | PayPal Holdings Inc. | 1,158,613 | 337,713 |
Mastercard Inc. Class A | 872,481 | 318,534 | |
Accenture plc Class A | 626,938 | 184,815 | |
Honeywell International Inc. | 685,028 | 150,261 | |
United Parcel Service Inc. Class B | 713,392 | 148,364 | |
Union Pacific Corp. | 655,193 | 144,097 | |
* | Boeing Co. | 576,785 | 138,175 |
Raytheon Technologies Corp. | 1,494,307 | 127,479 | |
Caterpillar Inc. | 540,269 | 117,579 | |
General Electric Co. | 8,658,197 | 116,539 | |
3M Co. | 571,715 | 113,560 | |
American Express Co. | 594,209 | 98,181 |
Shares | Market Value• ($000) | ||
Deere & Co. | 278,222 | 98,132 | |
* | Square Inc. Class A | 386,629 | 94,260 |
Lockheed Martin Corp. | 232,998 | 88,155 | |
Fidelity National Information Services Inc. | 611,619 | 86,648 | |
Automatic Data Processing Inc. | 419,666 | 83,354 | |
CSX Corp. | 2,241,021 | 71,892 | |
FedEx Corp. | 235,531 | 70,266 | |
Capital One Financial Corp. | 445,291 | 68,882 | |
Norfolk Southern Corp. | 246,804 | 65,504 | |
Sherwin-Williams Co. | 236,073 | 64,318 | |
* | Fiserv Inc. | 591,845 | 63,262 |
Illinois Tool Works Inc. | 280,388 | 62,684 | |
Eaton Corp. plc | 393,033 | 58,240 | |
Emerson Electric Co. | 591,471 | 56,923 | |
Global Payments Inc. | 291,166 | 54,605 | |
Northrop Grumman Corp. | 142,875 | 51,925 | |
Johnson Controls International plc | 706,873 | 48,513 | |
General Dynamics Corp. | 236,912 | 44,601 | |
L3Harris Technologies Inc. | 202,168 | 43,699 | |
Trane Technologies plc | 235,871 | 43,433 | |
Carrier Global Corp. | 857,079 | 41,654 | |
DuPont de Nemours Inc. | 524,835 | 40,627 | |
IHS Markit Ltd. | 353,740 | 39,852 | |
PPG Industries Inc. | 233,827 | 39,697 | |
Parker-Hannifin Corp. | 127,285 | 39,090 | |
Cummins Inc. | 144,192 | 35,155 | |
Otis Worldwide Corp. | 423,257 | 34,610 | |
Paychex Inc. | 319,870 | 34,322 | |
Cintas Corp. | 88,075 | 33,645 | |
* | TransDigm Group Inc. | 51,434 | 33,293 |
Rockwell Automation Inc. | 114,478 | 32,743 | |
Stanley Black & Decker Inc. | 159,273 | 32,649 | |
* | Mettler-Toledo International Inc. | 22,949 | 31,792 |
PACCAR Inc. | 342,398 | 30,559 | |
AMETEK Inc. | 227,748 | 30,404 | |
Equifax Inc. | 120,031 | 28,749 | |
* | Keysight Technologies Inc. | 181,967 | 28,098 |
* | Zebra Technologies Corp. Class A | 52,776 | 27,944 |
Verisk Analytics Inc. Class A | 159,866 | 27,932 | |
Synchrony Financial | 573,615 | 27,832 | |
Ball Corp. | 323,751 | 26,230 | |
Old Dominion Freight Line Inc. | 102,940 | 26,126 | |
* | Generac Holdings Inc. | 62,075 | 25,770 |
Kansas City Southern | 89,686 | 25,414 | |
Vulcan Materials Co. | 130,842 | 22,776 | |
* | United Rentals Inc. | 71,394 | 22,775 |
Fortive Corp. | 317,187 | 22,121 | |
Martin Marietta Materials Inc. | 61,499 | 21,636 | |
Dover Corp. | 141,948 | 21,377 | |
Xylem Inc. | 177,570 | 21,301 | |
Expeditors International of Washington Inc. | 166,560 | 21,086 |
Shares | Market Value• ($000) | ||
* | FleetCor Technologies Inc. | 82,206 | 21,050 |
* | Waters Corp. | 60,851 | 21,031 |
TransUnion | 188,672 | 20,718 | |
* | Trimble Inc. | 247,523 | 20,255 |
* | Teledyne Technologies Inc. | 45,892 | 19,221 |
WW Grainger Inc. | 43,688 | 19,135 | |
* | Ingersoll Rand Inc. | 372,336 | 18,174 |
Jacobs Engineering Group Inc. | 128,421 | 17,134 | |
Textron Inc. | 222,614 | 15,309 | |
Masco Corp. | 250,315 | 14,746 | |
Westinghouse Air Brake Technologies Corp. | 177,093 | 14,575 | |
Westrock Co. | 262,410 | 13,965 | |
Fortune Brands Home & Security Inc. | 136,694 | 13,616 | |
Crown Holdings Inc. | 133,052 | 13,599 | |
JB Hunt Transport Services Inc. | 83,374 | 13,586 | |
Packaging Corp. of America | 93,698 | 12,689 | |
CH Robinson Worldwide Inc. | 131,174 | 12,287 | |
Snap-on Inc. | 53,334 | 11,916 | |
Western Union Co. | 403,639 | 9,272 | |
HEICO Corp. Class A | 72,747 | 9,034 | |
Cognex Corp. | 82,739 | 6,954 | |
* | XPO Logistics Inc. | 47,870 | 6,697 |
Jack Henry & Associates Inc. | 36,633 | 5,990 | |
HEICO Corp. | 42,100 | 5,870 | |
* | Mohawk Industries Inc. | 27,509 | 5,287 |
Hubbell Inc. Class B | 26,792 | 5,006 | |
*,1 | Affirm Holdings Inc. | 50,934 | 3,430 |
* | Marqeta Inc. Class A | 47,729 | 1,340 |
4,983,889 | |||
Real Estate (2.7%) | |||
American Tower Corp. | 447,569 | 120,906 | |
Prologis Inc. | 729,589 | 87,208 | |
Crown Castle International Corp. | 426,257 | 83,163 | |
Equinix Inc. | 88,354 | 70,913 | |
Public Storage | 146,694 | 44,109 | |
Simon Property Group Inc. | 324,025 | 42,279 | |
Digital Realty Trust Inc. | 277,720 | 41,786 | |
SBA Communications Corp. Class A | 107,846 | 34,371 | |
Welltower Inc. | 411,790 | 34,220 | |
* | CoStar Group Inc. | 389,496 | 32,258 |
AvalonBay Communities Inc. | 137,687 | 28,734 | |
Equity Residential | 350,443 | 26,984 | |
* | CBRE Group Inc. Class A | 314,493 | 26,962 |
Alexandria Real Estate Equities Inc. | 145,469 | 26,467 | |
Weyerhaeuser Co. | 738,945 | 25,435 | |
Realty Income Corp. | 368,389 | 24,586 | |
Extra Space Storage Inc. | 131,896 | 21,607 | |
Ventas Inc. | 369,993 | 21,127 | |
Invitation Homes Inc. | 559,862 | 20,877 | |
* | Zillow Group Inc. Class C | 159,864 | 19,539 |
Essex Property Trust Inc. | 64,115 | 19,235 | |
Mid-America Apartment Communities Inc. | 112,909 | 19,016 |
Shares | Market Value• ($000) | ||
Sun Communities Inc. | 110,297 | 18,905 | |
Healthpeak Properties Inc. | 531,542 | 17,695 | |
Duke Realty Corp. | 369,832 | 17,512 | |
Boston Properties Inc. | 138,548 | 15,876 | |
UDR Inc. | 292,762 | 14,339 | |
WP Carey Inc. | 175,560 | 13,100 | |
Camden Property Trust | 96,340 | 12,781 | |
Iron Mountain Inc. | 284,768 | 12,051 | |
*,1 | Opendoor Technologies Inc. | 427,313 | 7,576 |
* | Host Hotels & Resorts Inc. | 348,216 | 5,951 |
Regency Centers Corp. | 83,763 | 5,367 | |
* | Zillow Group Inc. Class A | 42,348 | 5,189 |
VEREIT Inc. | 112,964 | 5,188 | |
1,023,312 | |||
Technology (29.4%) | |||
Apple Inc. | 15,635,403 | 2,141,425 | |
Microsoft Corp. | 7,428,242 | 2,012,311 | |
* | Facebook Inc. Class A | 2,363,172 | 821,699 |
* | Alphabet Inc. Class A | 296,554 | 724,123 |
* | Alphabet Inc. Class C | 271,339 | 680,062 |
NVIDIA Corp. | 583,726 | 467,039 | |
* | Adobe Inc. | 471,442 | 276,095 |
Intel Corp. | 3,982,609 | 223,584 | |
* | salesforce.com Inc. | 864,097 | 211,073 |
Broadcom Inc. | 382,575 | 182,427 | |
Texas Instruments Inc. | 910,849 | 175,156 | |
QUALCOMM Inc. | 1,112,532 | 159,014 | |
Oracle Corp. | 1,706,398 | 132,826 | |
International Business Machines Corp. | 881,266 | 129,185 | |
Applied Materials Inc. | 905,074 | 128,883 | |
Intuit Inc. | 256,032 | 125,499 | |
* | Advanced Micro Devices Inc. | 1,198,353 | 112,561 |
* | ServiceNow Inc. | 194,738 | 107,018 |
* | Micron Technology Inc. | 1,106,032 | 93,991 |
Lam Research Corp. | 140,666 | 91,531 | |
* | Snap Inc. Class A | 1,125,861 | 76,716 |
* | Zoom Video Communications Inc. Class A | 198,070 | 76,659 |
* | Autodesk Inc. | 217,045 | 63,355 |
* | Twilio Inc. Class A | 160,135 | 63,119 |
Analog Devices Inc. | 363,769 | 62,626 | |
* | Snowflake Inc. Class A | 248,158 | 60,005 |
* | Twitter Inc. | 747,810 | 51,457 |
* | DocuSign Inc. Class A | 182,287 | 50,962 |
* | Crowdstrike Holdings Inc. Class A | 196,410 | 49,360 |
KLA Corp. | 151,176 | 49,013 | |
Roper Technologies Inc. | 103,797 | 48,805 | |
Marvell Technology Inc. | 789,400 | 46,046 | |
* | Workday Inc. Class A | 186,409 | 44,503 |
TE Connectivity Ltd. | 325,699 | 44,038 | |
* | Pinterest Inc. Class A | 539,752 | 42,613 |
* | Palantir Technologies Inc. Class A | 1,601,839 | 42,224 |
* | Synopsys Inc. | 150,482 | 41,501 |
* | Match Group Inc. | 253,234 | 40,834 |
Microchip Technology Inc. | 269,780 | 40,397 | |
Amphenol Corp. Class A | 589,410 | 40,322 | |
* | Cadence Design Systems Inc. | 274,455 | 37,551 |
Shares | Market Value• ($000) | ||
HP Inc. | 1,229,492 | 37,118 | |
Cognizant Technology Solutions Corp. Class A | 520,169 | 36,027 | |
Xilinx Inc. | 242,469 | 35,071 | |
* | Okta Inc. | 141,476 | 34,616 |
* | Palo Alto Networks Inc. | 91,249 | 33,858 |
* | Fortinet Inc. | 136,911 | 32,611 |
Skyworks Solutions Inc. | 162,831 | 31,223 | |
Corning Inc. | 755,708 | 30,908 | |
* | ANSYS Inc. | 85,964 | 29,835 |
Maxim Integrated Products Inc. | 264,680 | 27,887 | |
* | EPAM Systems Inc. | 52,848 | 27,003 |
* | Dell Technologies Class C | 260,078 | 25,922 |
* | HubSpot Inc. | 43,783 | 25,513 |
CDW Corp. | 138,280 | 24,151 | |
* | Cloudflare Inc. Class A | 227,466 | 24,075 |
* | Splunk Inc. | 161,677 | 23,375 |
* | RingCentral Inc. Class A | 79,650 | 23,145 |
* | Datadog Inc. Class A | 219,189 | 22,813 |
Teradyne Inc. | 163,990 | 21,968 | |
* | Qorvo Inc. | 111,046 | 21,726 |
* | VeriSign Inc. | 94,417 | 21,498 |
* | Slack Technologies Inc. Class A | 470,869 | 20,859 |
* | Western Digital Corp. | 287,139 | 20,436 |
* | Gartner Inc. | 80,654 | 19,534 |
* | Coupa Software Inc. | 72,401 | 18,977 |
* | Akamai Technologies Inc. | 160,755 | 18,744 |
Hewlett Packard Enterprise Co. | 1,283,278 | 18,710 | |
* | Paycom Software Inc. | 50,460 | 18,341 |
* | Tyler Technologies Inc. | 40,173 | 18,173 |
* | DoorDash Inc. Class A | 101,642 | 18,126 |
NetApp Inc. | 219,548 | 17,963 | |
Seagate Technology Holdings plc | 203,163 | 17,864 | |
* | Zscaler Inc. | 73,725 | 15,929 |
SS&C Technologies Holdings Inc. | 214,430 | 15,452 | |
* | Unity Software Inc. | 137,786 | 15,133 |
NortonLifeLock Inc. | 543,388 | 14,791 | |
* | GoDaddy Inc. Class A | 165,473 | 14,389 |
Citrix Systems Inc. | 122,440 | 14,359 | |
*,1 | VMware Inc. Class A | 77,327 | 12,370 |
* | IAC/InterActiveCorp. | 78,088 | 12,039 |
* | Black Knight Inc. | 146,744 | 11,443 |
* | MongoDB Inc. Class A | 29,093 | 10,518 |
Bentley Systems Inc. Class B | 156,820 | 10,159 | |
* | Dropbox Inc. Class A | 298,014 | 9,033 |
* | Zendesk Inc. | 58,401 | 8,430 |
* | ON Semiconductor Corp. | 210,575 | 8,061 |
Monolithic Power Systems Inc. | 21,423 | 8,000 | |
* | IPG Photonics Corp. | 34,356 | 7,241 |
Leidos Holdings Inc. | 69,733 | 7,050 | |
* | F5 Networks Inc. | 29,399 | 5,488 |
* | ZoomInfo Technologies Inc. Class A | 96,688 | 5,044 |
* | Vimeo Inc. | 64,626 | 3,167 |
* | Bumble Inc. Class A | 53,165 | 3,062 |
* | AppLovin Corp. Class A | 32,061 | 2,410 |
* | Qualtrics International Inc. Class A | 26,501 | 1,014 |
Shares | Market Value• ($000) | ||
* | UiPath Inc. Class A | 2,457 | 167 |
11,080,427 | |||
Telecommunications (3.3%) | |||
Comcast Corp. Class A | 4,521,909 | 257,839 | |
Verizon Communications Inc. | 3,879,075 | 217,345 | |
AT&T Inc. | 7,042,027 | 202,670 | |
Cisco Systems Inc. | 3,740,755 | 198,260 | |
* | Charter Communications Inc. Class A | 120,947 | 87,257 |
* | T-Mobile US Inc. | 553,383 | 80,146 |
* | Roku Inc. | 113,615 | 52,178 |
Motorola Solutions Inc. | 167,331 | 36,286 | |
* | Liberty Broadband Corp. Class C | 150,323 | 26,105 |
* | Arista Networks Inc. | 56,464 | 20,457 |
Lumen Technologies Inc. | 1,090,158 | 14,815 | |
* | DISH Network Corp. Class A | 242,203 | 10,124 |
* | Altice USA Inc. Class A | 216,203 | 7,381 |
Juniper Networks Inc. | 161,634 | 4,421 | |
* | Liberty Broadband Corp. Class A | 23,324 | 3,922 |
Ubiquiti Inc. | 6,181 | 1,930 | |
1,221,136 | |||
Utilities (2.6%) | |||
NextEra Energy Inc. | 1,934,536 | 141,763 | |
Duke Energy Corp. | 758,651 | 74,894 | |
Southern Co. | 1,045,118 | 63,240 | |
Dominion Energy Inc. | 795,459 | 58,522 | |
Waste Management Inc. | 416,250 | 58,321 | |
Exelon Corp. | 963,372 | 42,687 | |
American Electric Power Co. Inc. | 492,888 | 41,693 | |
Sempra Energy | 298,549 | 39,552 | |
Xcel Energy Inc. | 530,821 | 34,970 | |
Waste Connections Inc. (XTSE) | 258,086 | 30,823 | |
Public Service Enterprise Group Inc. | 498,544 | 29,783 | |
WEC Energy Group Inc. | 311,105 | 27,673 | |
American Water Works Co. Inc. | 178,977 | 27,586 | |
Eversource Energy | 338,754 | 27,182 | |
DTE Energy Co. | 191,075 | 24,763 | |
Consolidated Edison Inc. | 338,099 | 24,248 | |
Republic Services Inc. Class A | 204,516 | 22,499 | |
Edison International | 374,234 | 21,638 | |
PPL Corp. | 720,927 | 20,164 | |
Ameren Corp. | 251,897 | 20,162 | |
FirstEnergy Corp. | 536,441 | 19,961 | |
Entergy Corp. | 197,910 | 19,732 | |
AES Corp. | 657,144 | 17,132 | |
CMS Energy Corp. | 285,485 | 16,866 | |
* | PG&E Corp. | 1,468,414 | 14,934 |
CenterPoint Energy Inc. | 572,527 | 14,038 | |
Alliant Energy Corp. | 246,693 | 13,756 | |
Evergy Inc. | 223,875 | 13,529 | |
NiSource Inc. | 386,840 | 9,478 | |
Vistra Corp. | 475,468 | 8,820 | |
NRG Energy Inc. | 120,647 | 4,862 | |
Pinnacle West Capital Corp. | 55,596 | 4,557 |
Shares | Market Value• ($000) | ||
Avangrid Inc. | 76,355 | 3,927 | |
993,755 | |||
Total Common Stocks (Cost $18,438,963) | 37,599,208 | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.056% (Cost $125,863) | 1,258,689 | 125,869 |
Total Investments (100.1%) (Cost $18,564,826) | 37,725,077 | ||
Other Assets and Liabilities— Net (-0.1%) | (45,699) | ||
Net Assets (100%) | 37,679,378 | ||
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 $46,022,000. |
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 $47,370,000 was received for securities on loan, of which $44,598,000 is held in Vanguard Market Liquidity Fund and $2,772,000 is held in cash. |
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 2021 | 368 | 78,910 | 927 |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $18,438,963) | 37,599,208 |
Affiliated Issuers (Cost $125,863) | 125,869 |
Total Investments in Securities | 37,725,077 |
Investment in Vanguard | 1,275 |
Cash | 2,772 |
Cash Collateral Pledged—Futures Contracts | 5,597 |
Receivables for Investment Securities Sold | 3,049 |
Receivables for Accrued Income | 36,198 |
Receivables for Capital Shares Issued | 12,010 |
Variation Margin Receivable—Futures Contracts | 160 |
Total Assets | 37,786,138 |
Liabilities | |
Due to Custodian | 12,393 |
Payables for Investment Securities Purchased | 6,210 |
Collateral for Securities on Loan | 47,370 |
Payables for Capital Shares Redeemed | 40,130 |
Payables to Vanguard | 657 |
Total Liabilities | 106,760 |
Net Assets | 37,679,378 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 18,443,053 |
Total Distributable Earnings (Loss) | 19,236,325 |
Net Assets | 37,679,378 |
Investor Shares—Net Assets | |
Applicable to 474,624 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 38,481 |
Net Asset Value Per Share—Investor Shares | $81.08 |
ETF Shares—Net Assets | |
Applicable to 122,855,650 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 24,662,697 |
Net Asset Value Per Share—ETF Shares | $200.75 |
Admiral Shares—Net Assets | |
Applicable to 105,716,509 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 10,718,045 |
Net Asset Value Per Share—Admiral Shares | $101.38 |
Institutional Shares—Net Assets | |
Applicable to 5,416,392 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,260,155 |
Net Asset Value Per Share—Institutional Shares | $417.28 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends | 239,647 |
Interest1 | 56 |
Securities Lending—Net | 512 |
Total Income | 240,215 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,267 |
Management and Administrative—Investor Shares | 29 |
Management and Administrative—ETF Shares | 3,093 |
Management and Administrative—Admiral Shares | 1,881 |
Management and Administrative—Institutional Shares | 321 |
Marketing and Distribution—Investor Shares | 1 |
Marketing and Distribution—ETF Shares | 253 |
Marketing and Distribution—Admiral Shares | 147 |
Marketing and Distribution—Institutional Shares | 29 |
Custodian Fees | 188 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 248 |
Shareholders’ Reports—Admiral Shares | 30 |
Shareholders’ Reports—Institutional Shares | 1 |
Trustees’ Fees and Expenses | 5 |
Total Expenses | 7,493 |
Net Investment Income | 232,722 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 549,847 |
Futures Contracts | 24,323 |
Realized Net Gain (Loss) | 574,170 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 4,089,936 |
Futures Contracts | (3,142) |
Change in Unrealized Appreciation (Depreciation) | 4,086,794 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 4,893,686 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $54,000, less than $1,000, and ($1,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $564,911,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 232,722 | 475,660 | |
Realized Net Gain (Loss) | 574,170 | 736,290 | |
Change in Unrealized Appreciation (Depreciation) | 4,086,794 | 4,719,115 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 4,893,686 | 5,931,065 | |
Distributions | |||
Investor Shares | (214) | (488) | |
ETF Shares | (149,722) | (309,168) | |
Admiral Shares | (64,781) | (134,821) | |
Institutional Shares | (14,649) | (30,593) | |
Total Distributions | (229,366) | (475,070) | |
Capital Share Transactions | |||
Investor Shares | (3,194) | 679 | |
ETF Shares | 90,207 | 1,675,512 | |
Admiral Shares | 56,968 | 247,258 | |
Institutional Shares | (193,002) | 42,631 | |
Net Increase (Decrease) from Capital Share Transactions | (49,021) | 1,966,080 | |
Total Increase (Decrease) | 4,615,299 | 7,422,075 | |
Net Assets | |||
Beginning of Period | 33,064,079 | 25,642,004 | |
End of Period | 37,679,378 | 33,064,079 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $71.00 | $59.72 | $46.36 | $49.48 | $41.31 | $37.78 |
Investment Operations | ||||||
Net Investment Income | .4541 | .9691 | .9181 | .9661 | .8191 | .768 |
Net Realized and Unrealized Gain (Loss) on Investments | 10.073 | 11.268 | 13.466 | (3.184) | 8.161 | 3.533 |
Total from Investment Operations | 10.527 | 12.237 | 14.384 | (2.218) | 8.980 | 4.301 |
Distributions | ||||||
Dividends from Net Investment Income | (.447) | (.957) | (1.024) | (.902) | (.810) | (.771) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.447) | (.957) | (1.024) | (.902) | (.810) | (.771) |
Net Asset Value, End of Period | $81.08 | $71.00 | $59.72 | $46.36 | $49.48 | $41.31 |
Total Return2 | 14.86% | 20.89% | 31.23% | -4.59% | 21.89% | 11.50% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $38 | $37 | $30 | $344 | $387 | $400 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.18% |
Ratio of Net Investment Income to Average Net Assets | 1.20% | 1.61% | 1.75% | 1.91% | 1.81% | 2.02% |
Portfolio Turnover Rate3 | 3% | 3% | 5% | 4% | 3% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $175.80 | $147.88 | $114.77 | $122.49 | $102.27 | $93.52 |
Investment Operations | ||||||
Net Investment Income | 1.2471 | 2.5941 | 2.5811 | 2.5721 | 2.1681 | 2.018 |
Net Realized and Unrealized Gain (Loss) on Investments | 24.934 | 27.890 | 33.204 | (7.896) | 20.196 | 8.754 |
Total from Investment Operations | 26.181 | 30.484 | 35.785 | (5.324) | 22.364 | 10.772 |
Distributions | ||||||
Dividends from Net Investment Income | (1.231) | (2.564) | (2.675) | (2.396) | (2.144) | (2.022) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.231) | (2.564) | (2.675) | (2.396) | (2.144) | (2.022) |
Net Asset Value, End of Period | $200.75 | $175.80 | $147.88 | $114.77 | $122.49 | $102.27 |
Total Return | 14.93% | 20.99% | 31.39% | -4.44% | 22.03% | 11.65% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $24,663 | $21,540 | $16,270 | $12,358 | $11,613 | $8,468 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.33% | 1.74% | 1.93% | 2.04% | 1.93% | 2.14% |
Portfolio Turnover Rate2 | 3% | 3% | 5% | 4% | 3% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $88.79 | $74.69 | $57.96 | $61.86 | $51.65 | $47.23 |
Investment Operations | ||||||
Net Investment Income | .6251 | 1.3031 | 1.2991 | 1.2881 | 1.0941 | 1.019 |
Net Realized and Unrealized Gain (Loss) on Investments | 12.582 | 14.084 | 16.774 | (3.983) | 10.197 | 4.422 |
Total from Investment Operations | 13.207 | 15.387 | 18.073 | (2.695) | 11.291 | 5.441 |
Distributions | ||||||
Dividends from Net Investment Income | (.617) | (1.287) | (1.343) | (1.205) | (1.081) | (1.021) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.617) | (1.287) | (1.343) | (1.205) | (1.081) | (1.021) |
Net Asset Value, End of Period | $101.38 | $88.79 | $74.69 | $57.96 | $61.86 | $51.65 |
Total Return2 | 14.92% | 21.03% | 31.39% | -4.47% | 22.03% | 11.65% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $10,718 | $9,338 | $7,546 | $5,306 | $5,375 | $4,130 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.32% | 1.73% | 1.92% | 2.03% | 1.93% | 2.14% |
Portfolio Turnover Rate3 | 3% | 3% | 5% | 4% | 3% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $365.43 | $307.39 | $238.57 | $254.60 | $212.59 | $194.40 |
Investment Operations | ||||||
Net Investment Income | 2.5821 | 5.3891 | 5.3631 | 5.3451 | 4.5291 | 4.215 |
Net Realized and Unrealized Gain (Loss) on Investments | 51.827 | 57.981 | 69.016 | (16.390) | 41.958 | 18.199 |
Total from Investment Operations | 54.409 | 63.370 | 74.379 | (11.045) | 46.487 | 22.414 |
Distributions | ||||||
Dividends from Net Investment Income | (2.559) | (5.330) | (5.559) | (4.985) | (4.477) | (4.224) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.559) | (5.330) | (5.559) | (4.985) | (4.477) | (4.224) |
Net Asset Value, End of Period | $417.28 | $365.43 | $307.39 | $238.57 | $254.60 | $212.59 |
Total Return | 14.93% | 21.05% | 31.39% | -4.46% | 22.03% | 11.66% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $2,260 | $2,149 | $1,796 | $1,178 | $1,212 | $932 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.32% | 1.74% | 1.92% | 2.04% | 1.94% | 2.15% |
Portfolio Turnover Rate2 | 3% | 3% | 5% | 4% | 3% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. | As of June 30, 2021, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 18,567,430 |
Gross Unrealized Appreciation | 19,441,002 |
Gross Unrealized Depreciation | (282,428) |
Net Unrealized Appreciation (Depreciation) | 19,158,574 |
E. | During the six months ended June 30, 2021, the fund purchased $1,865,114,000 of investment securities and sold $1,767,802,000 of investment securities, other than temporary cash investments. Purchases and sales include $789,879,000 and $756,879,000, 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: |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 3,033 | 41 | 12,683 | 220 | |
Issued in Lieu of Cash Distributions | 214 | 3 | 488 | 9 | |
Redeemed | (6,441) | (87) | (12,492) | (213) | |
Net Increase (Decrease)—Investor Shares | (3,194) | (43) | 679 | 16 | |
ETF Shares | |||||
Issued | 859,928 | 4,531 | 2,981,881 | 21,401 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (769,721) | (4,200) | (1,306,369) | (8,900) | |
Net Increase (Decrease)—ETF Shares | 90,207 | 331 | 1,675,512 | 12,501 |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 912,714 | 9,687 | 2,270,102 | 32,290 | |
Issued in Lieu of Cash Distributions | 52,644 | 550 | 109,775 | 1,534 | |
Redeemed | (908,390) | (9,691) | (2,132,619) | (29,688) | |
Net Increase (Decrease)—Admiral Shares | 56,968 | 546 | 247,258 | 4,136 | |
Institutional Shares | |||||
Issued | 294,593 | 760 | 602,657 | 1,940 | |
Issued in Lieu of Cash Distributions | 12,946 | 33 | 26,683 | 91 | |
Redeemed | (500,541) | (1,259) | (586,709) | (1,991) | |
Net Increase (Decrease)—Institutional Shares | (193,002) | (466) | 42,631 | 40 |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements. |
All rights reserved.
U.S. Patent Nos. 6,879,964; 7,337,138; 7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636.
Vanguard Marketing Corporation, Distributor.
• | 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 June 30, 2021 | |||
Beginning Account Value 12/31/2020 | Ending Account Value 6/30/2021 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Total Stock Market Index Fund | |||
Investor Shares | $1,000.00 | $1,151.90 | $0.75 |
ETF Shares | 1,000.00 | 1,152.50 | 0.16 |
AdmiralTM Shares | 1,000.00 | 1,152.40 | 0.21 |
Institutional Shares | 1,000.00 | 1,152.60 | 0.16 |
Institutional Plus Shares | 1,000.00 | 1,152.60 | 0.11 |
Institutional Select Shares | 1,000.00 | 1,152.60 | 0.05 |
Based on Hypothetical 5% Yearly Return | |||
Total Stock Market Index Fund | |||
Investor Shares | $1,000.00 | $1,024.10 | $0.70 |
ETF Shares | 1,000.00 | 1,024.65 | 0.15 |
Admiral Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Shares | 1,000.00 | 1,024.65 | 0.15 |
Institutional Plus Shares | 1,000.00 | 1,024.70 | 0.10 |
Institutional Select Shares | 1,000.00 | 1,024.75 | 0.05 |
Basic Materials | 2.0% |
Consumer Discretionary | 16.0 |
Consumer Staples | 4.7 |
Energy | 2.9 |
Financials | 11.2 |
Health Care | 13.1 |
Industrials | 13.9 |
Other | 0.0 |
Real Estate | 3.5 |
Technology | 27.1 |
Telecommunications | 3.0 |
Utilities | 2.6 |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Common Stocks | ||||||
Basic Materials | ||||||
Perma-Pipe International Holdings Inc.*,1 | 416,232 | 2,772 | 0.00% | |||
† | Basic Materials—Other*,2,3 | 25,309,843 | 2.01% | |||
25,312,615 | 2.01% | |||||
Consumer Discretionary | ||||||
Amazon.com Inc.* | 12,108,357 | 41,654,685 | 3.31% | |||
Tesla Inc.* | 21,768,378 | 14,795,967 | 1.18% | |||
Home Depot Inc. | 30,031,686 | 9,576,804 | 0.76% | |||
Walt Disney Co.* | 51,321,242 | 9,020,735 | 0.72% | |||
Netflix Inc.* | 12,524,850 | 6,615,751 | 0.53% | |||
Walmart Inc. | 39,729,664 | 5,602,677 | 0.45% | |||
NIKE Inc. Class B | 36,012,739 | 5,563,608 | 0.44% | |||
Costco Wholesale Corp. | 12,499,201 | 4,945,559 | 0.39% | |||
McDonald's Corp. | 21,075,098 | 4,868,137 | 0.39% | |||
† | Consumer Discretionary—Other*,2,3 | 97,301,404 | 7.72% | |||
199,945,327 | 15.89% | |||||
Consumer Staples | ||||||
Procter & Gamble Co. | 69,141,796 | 9,329,303 | 0.74% | |||
Coca-Cola Co. | 109,606,018 | 5,930,782 | 0.47% | |||
PepsiCo Inc. | 39,024,187 | 5,782,214 | 0.46% | |||
Philip Morris International Inc. | 44,025,291 | 4,363,347 | 0.35% | |||
† | Consumer Staples —Other*,2 | 33,752,689 | 2.68% | |||
59,158,335 | 4.70% | |||||
Energy | ||||||
Exxon Mobil Corp. | 119,579,282 | 7,543,061 | 0.60% | |||
Chevron Corp. | 54,559,393 | 5,714,551 | 0.46% | |||
† | Energy—Other*,2,3 | 23,455,650 | 1.86% | |||
36,713,262 | 2.92% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
Financials | ||||||
Berkshire Hathaway Inc. Class B* | 48,902,808 | 13,591,068 | 1.08% | |||
JPMorgan Chase & Co. | 85,499,490 | 13,298,591 | 1.06% | |||
Bank of America Corp. | 217,832,685 | 8,981,242 | 0.71% | |||
Wells Fargo & Co. | 116,761,886 | 5,288,146 | 0.42% | |||
Berkshire Hathaway Inc. Class A* | 1,051 | 439,950 | 0.04% | |||
BM Technologies Inc. (Acquired 12/17/20, Cost $1,765)*,4 | 123,018 | 1,377 | 0.00% | |||
† | Financials—Other*,2,3 | 98,369,929 | 7.82% | |||
139,970,303 | 11.13% | |||||
Health Care | ||||||
Johnson & Johnson | 74,381,224 | 12,253,563 | 0.98% | |||
UnitedHealth Group Inc. | 26,655,275 | 10,673,838 | 0.85% | |||
Pfizer Inc. | 158,110,199 | 6,191,595 | 0.49% | |||
Abbott Laboratories | 50,188,451 | 5,818,347 | 0.46% | |||
AbbVie Inc. | 49,888,652 | 5,619,458 | 0.45% | |||
Thermo Fisher Scientific Inc. | 11,101,575 | 5,600,412 | 0.45% | |||
Eli Lilly & Co. | 24,380,353 | 5,595,779 | 0.45% | |||
Merck & Co. Inc. | 71,521,061 | 5,562,193 | 0.44% | |||
Danaher Corp. | 18,132,976 | 4,866,165 | 0.39% | |||
Medtronic plc | 38,075,061 | 4,726,257 | 0.38% | |||
† | Health Care—Other*,2,3 | 96,749,960 | 7.67% | |||
163,657,567 | 13.01% | |||||
Industrials | ||||||
Visa Inc. Class A | 47,563,683 | 11,121,340 | 0.88% | |||
PayPal Holdings Inc.* | 33,182,311 | 9,671,980 | 0.77% | |||
Mastercard Inc. Class A | 24,988,092 | 9,122,903 | 0.73% | |||
Accenture plc Class A | 17,954,321 | 5,292,754 | 0.42% | |||
Honeywell International Inc. | 19,616,921 | 4,302,972 | 0.34% | |||
United Parcel Service Inc. Class B | 20,431,986 | 4,249,240 | 0.34% | |||
† | Industrials—Other*,2,3,5 | 130,035,527 | 10.34% | |||
173,796,716 | 13.82% | |||||
†Other*,2,3,6 | 529 | 0.00% | ||||
†Real Estate*,2,3 | 43,552,017 | 3.46% | ||||
Technology | ||||||
Apple Inc. | 447,774,417 | 61,327,183 | 4.88% | |||
Microsoft Corp. | 212,736,932 | 57,630,435 | 4.58% | |||
Facebook Inc. Class A* | 67,679,030 | 23,532,676 | 1.87% | |||
Alphabet Inc. Class A* | 8,484,554 | 20,717,499 | 1.65% | |||
Alphabet Inc. Class C* | 7,778,705 | 19,495,924 | 1.55% | |||
NVIDIA Corp. | 16,717,635 | 13,375,780 | 1.06% | |||
Adobe Inc.* | 13,502,096 | 7,907,367 | 0.63% | |||
Intel Corp. | 114,059,454 | 6,403,298 | 0.51% | |||
salesforce.com Inc.* | 24,747,719 | 6,045,125 | 0.48% | |||
Broadcom Inc. | 10,956,982 | 5,224,727 | 0.42% | |||
Texas Instruments Inc. | 26,086,761 | 5,016,484 | 0.40% | |||
QUALCOMM Inc. | 31,862,594 | 4,554,121 | 0.36% | |||
† | Technology—Other*,2,3 | 108,074,434 | 8.58% | |||
339,305,053 | 26.97% | |||||
Telecommunications | ||||||
Comcast Corp. Class A | 129,505,594 | 7,384,409 | 0.59% | |||
Verizon Communications Inc. | 111,089,097 | 6,224,322 | 0.50% |
Shares | Market Value• ($000) | Percentage of Net Assets | ||||
AT&T Inc. | 201,673,800 | 5,804,172 | 0.46% | |||
Cisco Systems Inc. | 107,124,995 | 5,677,625 | 0.45% | |||
† | Telecommunications—Other*,2,3 | 12,565,404 | 0.99% | |||
37,655,932 | 2.99% | |||||
†Utilities*,2 | 32,949,025 | 2.62% | ||||
Total Common Stocks (Cost $545,077,856) | 1,252,016,681 | 99.52% | ||||
†Preferred Stock (Cost $36) | 42 | 0.00% | ||||
Coupon | ||||||
Temporary Cash Investments | ||||||
Money Market Fund | ||||||
Vanguard Market Liquidity Fund7,8 (Cost $11,135,205) | 0.056% | 111,359,670 | 11,135,968 | 0.88% | ||
Total Investments (Cost $556,213,097) | 1,263,152,691 | 100.40% | ||||
Other Assets and Liabilities—Net | (5,078,185) | (0.40%) | ||||
Net Assets | 1,258,074,506 | 100.00% |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
* | Includes non-income-producing security. |
† | Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets. |
1 | Considered an affiliated company of the fund as the fund owns more than 5% of the outstanding voting securities of such company. |
2 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $6,159,744,000. |
3 | Certain securities are valued using significant unobservable inputs. |
4 | Restricted securities totaling $1,377,000, representing 0.0% of net assets. |
5 | Certain securities are 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 June 30, 2021, the aggregate value of these securities was $82,644,000, representing 0.0% of net assets. |
6 | “Other” represents securities that are not classified by the fund’s benchmark index. |
7 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
8 | Collateral of $6,537,053,000 was received for securities on loan, of which $6,352,245,000 is held in Vanguard Market Liquidity Fund and $184,808,000 is held in cash. |
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 2021 | 1,914 | 220,856 | (2,191) |
E-mini S&P 500 Index | September 2021 | 23,501 | 5,039,319 | 73,227 |
E-mini S&P Mid-Cap 400 Index | September 2021 | 240 | 64,618 | (1,285) |
69,751 |
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) |
Alcoa Corp. | 8/31/21 | BOANA | 15,471 | (0.586) | — | (1,111) |
Bandwidth Inc. Class A | 8/31/21 | BOANA | 32,293 | (0.536) | 5,347 | — |
Consolidated Edison Inc. | 8/31/21 | BOANA | 123,584 | (0.636) | — | (7,653) |
Consolidated Edison Inc. | 8/31/21 | BOANA | 108,136 | (0.486) | — | (6,684) |
National Fuel Gas Co. | 8/31/21 | BOANA | 4,670 | (0.486) | 72 | — |
New York Community Bancorp Inc. | 8/31/21 | BOANA | 3,591 | (0.436) | — | (286) |
Penn National Gaming Inc. | 8/31/21 | BOANA | 98,364 | (0.536) | — | (6,617) |
Popular Inc. | 8/31/21 | BOANA | 16,322 | (0.486) | — | (1,236) |
RingCentral Inc. Class A | 8/31/21 | BOANA | 30,184 | (0.586) | 3,219 | — |
State Street Corp. | 8/31/22 | BOANA | 223,974 | (0.586) | — | (10,867) |
Visa Inc. Class A | 8/31/21 | BOANA | 51,143 | 0.014 | 1,538 | — |
Vistra Corp. | 8/31/21 | BOANA | 17,302 | (0.386) | 2,702 | — |
Williams Cos. Inc. | 8/31/21 | BOANA | 158,040 | (0.486) | 3,660 | — |
16,538 | (34,454) |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BOANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $545,074,434) | 1,252,013,951 |
Affiliated Issuers (Cost $11,138,663) | 11,138,740 |
Total Investments in Securities | 1,263,152,691 |
Investment in Vanguard | 42,541 |
Cash | 184,808 |
Cash Collateral Pledged—Futures Contracts | 274,197 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 18,620 |
Receivables for Investment Securities Sold | 741,877 |
Receivables for Accrued Income | 739,009 |
Receivables for Capital Shares Issued | 1,118,826 |
Variation Margin Receivable—Futures Contracts | 7,548 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 16,538 |
Total Assets | 1,266,296,655 |
Liabilities | |
Due to Custodian | 399,368 |
Payables for Investment Securities Purchased | 208,906 |
Collateral for Securities on Loan | 6,537,053 |
Payables for Capital Shares Redeemed | 1,016,380 |
Payables to Vanguard | 25,988 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 34,454 |
Total Liabilities | 8,222,149 |
Net Assets | 1,258,074,506 |
Statement of Assets and Liabilities (continued) | |
At June 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 560,250,353 |
Total Distributable Earnings (Loss) | 697,824,153 |
Net Assets | 1,258,074,506 |
Investor Shares—Net Assets | |
Applicable to 1,319,037,980 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 143,064,902 |
Net Asset Value Per Share—Investor Shares | $108.46 |
ETF Shares—Net Assets | |
Applicable to 1,134,444,825 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 252,829,824 |
Net Asset Value Per Share—ETF Shares | $222.87 |
Admiral Shares—Net Assets | |
Applicable to 2,909,315,360 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 315,631,133 |
Net Asset Value Per Share—Admiral Shares | $108.49 |
Institutional Shares—Net Assets | |
Applicable to 2,101,101,506 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 227,984,217 |
Net Asset Value Per Share—Institutional Shares | $108.51 |
Institutional Plus Shares—Net Assets | |
Applicable to 1,323,341,512 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 269,281,287 |
Net Asset Value Per Share—Institutional Plus Shares | $203.49 |
Institutional Select Shares—Net Assets | |
Applicable to 230,817,928 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 49,283,143 |
Net Asset Value Per Share—Institutional Select Shares | $213.52 |
Six Months Ended June 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends—Unaffiliated Issuers | 7,445,745 |
Dividends—Affiliated Issuers | — |
Interest—Unaffiliated Issuers | 54 |
Interest—Affiliated Issuers | 2,103 |
Securities Lending—Net | 81,216 |
Total Income | 7,529,118 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 8,771 |
Management and Administrative—Investor Shares | 101,526 |
Management and Administrative—ETF Shares | 27,614 |
Management and Administrative—Admiral Shares | 51,957 |
Management and Administrative—Institutional Shares | 25,942 |
Management and Administrative—Institutional Plus Shares | 21,325 |
Management and Administrative—Institutional Select Shares | 1,891 |
Marketing and Distribution—Investor Shares | 2,970 |
Marketing and Distribution—ETF Shares | 2,744 |
Marketing and Distribution—Admiral Shares | 3,433 |
Marketing and Distribution—Institutional Shares | 2,094 |
Marketing and Distribution—Institutional Plus Shares | 1,163 |
Marketing and Distribution—Institutional Select Shares | 1 |
Custodian Fees | 1,023 |
Shareholders’ Reports—Investor Shares | 208 |
Shareholders’ Reports—ETF Shares | 1,575 |
Shareholders’ Reports—Admiral Shares | 594 |
Shareholders’ Reports—Institutional Shares | 300 |
Shareholders’ Reports—Institutional Plus Shares | 26 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 156 |
Total Expenses | 255,313 |
Net Investment Income | 7,273,805 |
Realized Net Gain (Loss) | |
Investment Securities Sold—Unaffiliated Issuers1 | 6,819,641 |
Investment Securities Sold—Affiliated Issuers | 113 |
Futures Contracts | 862,722 |
Swap Contracts | 22,836 |
Realized Net Gain (Loss) | 7,705,312 |
Statement of Operations (continued) | |
Six Months Ended June 30, 2021 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities—Unaffiliated Issuers | 150,663,073 |
Investment Securities—Affiliated Issuers | 4,208 |
Futures Contracts | (37,741) |
Swap Contracts | (17,580) |
Change in Unrealized Appreciation (Depreciation) | 150,611,960 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 165,591,077 |
1 | Includes $4,690,231,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 7,273,805 | 15,540,727 | |
Realized Net Gain (Loss) | 7,705,312 | 3,258,780 | |
Change in Unrealized Appreciation (Depreciation) | 150,611,960 | 170,087,718 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 165,591,077 | 188,887,225 | |
Distributions | |||
Investor Shares | (847,095) | (2,178,405) | |
ETF Shares | (1,489,567) | (2,643,535) | |
Admiral Shares | (1,882,690) | (4,040,472) | |
Institutional Shares | (1,328,549) | (2,632,899) | |
Institutional Plus Shares | (1,621,179) | (3,283,515) | |
Institutional Select Shares | (300,247) | (503,956) | |
Total Distributions | (7,469,327) | (15,282,782) | |
Capital Share Transactions | |||
Investor Shares | (31,397,903) | (11,200,923) | |
ETF Shares | 20,175,246 | 32,847,249 | |
Admiral Shares | 2,190,501 | (23,050,842) | |
Institutional Shares | 20,147,013 | (1,802,186) | |
Institutional Plus Shares | 9,425,504 | 1,241,423 | |
Institutional Select Shares | (1,299,905) | 11,449,267 | |
Net Increase (Decrease) from Capital Share Transactions | 19,240,456 | 9,483,988 | |
Total Increase (Decrease) | 177,362,206 | 183,088,431 | |
Net Assets | |||
Beginning of Period | 1,080,712,300 | 897,623,869 | |
End of Period | 1,258,074,506 | 1,080,712,300 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $94.71 | $79.66 | $62.08 | $66.70 | $56.06 | $50.78 |
Investment Operations | ||||||
Net Investment Income | .5871 | 1.2841 | 1.2791 | 1.2751 | 1.0861 | 1.022 |
Net Realized and Unrealized Gain (Loss) on Investments | 13.760 | 15.026 | 17.634 | (4.703) | 10.630 | 5.282 |
Total from Investment Operations | 14.347 | 16.310 | 18.913 | (3.428) | 11.716 | 6.304 |
Distributions | ||||||
Dividends from Net Investment Income | (.597) | (1.260) | (1.333) | (1.192) | (1.076) | (1.024) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.597) | (1.260) | (1.333) | (1.192) | (1.076) | (1.024) |
Net Asset Value, End of Period | $108.46 | $94.71 | $79.66 | $62.08 | $66.70 | $56.06 |
Total Return2 | 15.19% | 20.87% | 30.65% | -5.26% | 21.05% | 12.53% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $143,065 | $153,845 | $139,686 | $121,266 | $126,766 | $103,932 |
Ratio of Total Expenses to Average Net Assets | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% | 0.15% |
Ratio of Net Investment Income to Average Net Assets | 1.16% | 1.62% | 1.78% | 1.86% | 1.77% | 1.98% |
Portfolio Turnover Rate3 | 3% | 8% | 4% | 3% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $194.61 | $163.70 | $127.56 | $137.06 | $115.21 | $104.34 |
Investment Operations | ||||||
Net Investment Income | 1.3141 | 2.8311 | 2.8091 | 2.7811 | 2.3611 | 2.214 |
Net Realized and Unrealized Gain (Loss) on Investments | 28.293 | 30.848 | 36.236 | (9.676) | 21.832 | 10.871 |
Total from Investment Operations | 29.607 | 33.679 | 39.045 | (6.895) | 24.193 | 13.085 |
Distributions | ||||||
Dividends from Net Investment Income | (1.347) | (2.769) | (2.905) | (2.605) | (2.343) | (2.215) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.347) | (2.769) | (2.905) | (2.605) | (2.343) | (2.215) |
Net Asset Value, End of Period | $222.87 | $194.61 | $163.70 | $127.56 | $137.06 | $115.21 |
Total Return | 15.25% | 20.95% | 30.80% | -5.13% | 21.16% | 12.68% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $252,830 | $202,075 | $138,067 | $94,809 | $91,862 | $69,889 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03% | 0.03% | 0.03% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.26% | 1.73% | 1.89% | 1.97% | 1.87% | 2.09% |
Portfolio Turnover Rate2 | 3% | 8% | 4% | 3% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $94.74 | $79.69 | $62.09 | $66.72 | $56.08 | $50.79 |
Investment Operations | ||||||
Net Investment Income | .6361 | 1.3641 | 1.3601 | 1.3441 | 1.1481 | 1.077 |
Net Realized and Unrealized Gain (Loss) on Investments | 13.764 | 15.025 | 17.646 | (4.711) | 10.633 | 5.291 |
Total from Investment Operations | 14.400 | 16.389 | 19.006 | (3.367) | 11.781 | 6.368 |
Distributions | ||||||
Dividends from Net Investment Income | (.650) | (1.339) | (1.406) | (1.263) | (1.141) | (1.078) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.650) | (1.339) | (1.406) | (1.263) | (1.141) | (1.078) |
Net Asset Value, End of Period | $108.49 | $94.74 | $79.69 | $62.09 | $66.72 | $56.08 |
Total Return2 | 15.24% | 20.99% | 30.80% | -5.17% | 21.17% | 12.66% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $315,631 | $273,622 | $252,536 | $185,102 | $190,099 | $151,612 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.26% | 1.72% | 1.88% | 1.96% | 1.87% | 2.09% |
Portfolio Turnover Rate3 | 3% | 8% | 4% | 3% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 | 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 | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $94.75 | $79.70 | $62.10 | $66.73 | $56.09 | $50.80 |
Investment Operations | ||||||
Net Investment Income | .6401 | 1.3741 | 1.3651 | 1.3541 | 1.1531 | 1.082 |
Net Realized and Unrealized Gain (Loss) on Investments | 13.776 | 15.024 | 17.649 | (4.715) | 10.630 | 5.291 |
Total from Investment Operations | 14.416 | 16.398 | 19.014 | (3.361) | 11.783 | 6.373 |
Distributions | ||||||
Dividends from Net Investment Income | (.656) | (1.348) | (1.414) | (1.269) | (1.143) | (1.083) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.656) | (1.348) | (1.414) | (1.269) | (1.143) | (1.083) |
Net Asset Value, End of Period | $108.51 | $94.75 | $79.70 | $62.10 | $66.73 | $56.09 |
Total Return | 15.26% | 21.00% | 30.81% | -5.16% | 21.17% | 12.67% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $227,984 | $180,586 | $152,716 | $115,115 | $113,557 | $79,443 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03% | 0.03% | 0.03% | 0.035% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.26% | 1.73% | 1.89% | 1.97% | 1.87% | 2.10% |
Portfolio Turnover Rate2 | 3% | 8% | 4% | 3% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $177.69 | $149.47 | $116.46 | $125.14 | $105.18 | $95.26 |
Investment Operations | ||||||
Net Investment Income | 1.2111 | 2.5911 | 2.5751 | 2.5551 | 2.1821 | 2.042 |
Net Realized and Unrealized Gain (Loss) on Investments | 25.828 | 28.172 | 33.100 | (8.842) | 19.938 | 9.924 |
Total from Investment Operations | 27.039 | 30.763 | 35.675 | (6.287) | 22.120 | 11.966 |
Distributions | ||||||
Dividends from Net Investment Income | (1.239) | (2.543) | (2.665) | (2.393) | (2.160) | (2.046) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.239) | (2.543) | (2.665) | (2.393) | (2.160) | (2.046) |
Net Asset Value, End of Period | $203.49 | $177.69 | $149.47 | $116.46 | $125.14 | $105.18 |
Total Return | 15.26% | 21.02% | 30.82% | -5.15% | 21.19% | 12.69% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $269,281 | $226,288 | $188,188 | $135,641 | $126,130 | $85,031 |
Ratio of Total Expenses to Average Net Assets | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.28% | 1.74% | 1.90% | 1.98% | 1.89% | 2.11% |
Portfolio Turnover Rate2 | 3% | 8% | 4% | 3% | 3% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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 Select Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2021 | Year Ended December 31, | June 27, 20161 to December 31, 2016 | |||
2020 | 2019 | 2018 | 2017 | |||
Net Asset Value, Beginning of Period | $186.45 | $156.83 | $122.20 | $131.31 | $110.37 | $97.70 |
Investment Operations | ||||||
Net Investment Income | 1.2812 | 2.7722 | 2.7092 | 2.7042 | 2.3112 | 1.181 |
Net Realized and Unrealized Gain (Loss) on Investments | 27.099 | 29.532 | 34.731 | (9.290) | 20.908 | 12.718 |
Total from Investment Operations | 28.380 | 32.304 | 37.440 | (6.586) | 23.219 | 13.899 |
Distributions | ||||||
Dividends from Net Investment Income | (1.310) | (2.684) | (2.810) | (2.524) | (2.279) | (1.229) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.310) | (2.684) | (2.810) | (2.524) | (2.279) | (1.229) |
Net Asset Value, End of Period | $213.52 | $186.45 | $156.83 | $122.20 | $131.31 | $110.37 |
Total Return | 15.26% | 21.03% | 30.84% | -5.14% | 21.20% | 14.24% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $49,283 | $44,296 | $26,431 | $20,262 | $14,163 | $8,545 |
Ratio of Total Expenses to Average Net Assets | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01%3 |
Ratio of Net Investment Income to Average Net Assets | 1.29% | 1.76% | 1.91% | 1.99% | 1.90% | 2.15%3 |
Portfolio Turnover Rate4 | 3% | 8% | 4% | 3% | 3% | 4%5 |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
5 | Reflects the fund’s portfolio turnover for the fiscal year ended December 31, 2016. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 1,252,000,911 | 1,478 | 14,292 | 1,252,016,681 |
Preferred Stock | 42 | — | — | 42 |
Temporary Cash Investments | 11,135,968 | — | — | 11,135,968 |
Total | 1,263,136,921 | 1,478 | 14,292 | 1,263,152,691 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 73,227 | — | — | 73,227 |
Swap Contracts | — | 16,538 | — | 16,538 |
Total | 73,227 | 16,538 | — | 89,765 |
Liabilities | ||||
Futures Contracts1 | 3,476 | — | — | 3,476 |
Swap Contracts | — | 34,454 | — | 34,454 |
Total | 3,476 | 34,454 | — | 37,930 |
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) | |
Tax Cost | 557,322,661 |
Gross Unrealized Appreciation | 724,368,721 |
Gross Unrealized Depreciation | (18,486,856) |
Net Unrealized Appreciation (Depreciation) | 705,881,865 |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 327,874 | 3,292 | 14,516,361 | 207,934 | |
Issued in Lieu of Cash Distributions | 847,095 | 8,291 | 2,178,405 | 28,832 | |
Redeemed | (32,572,872) | (316,928) | (27,895,689) | (365,845) | |
Net Increase (Decrease)—Investor Shares | (31,397,903) | (305,345) | (11,200,923) | (129,079) | |
ETF Shares | |||||
Issued | 24,149,005 | 114,803 | 50,514,859 | 305,434 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,973,759) | (18,700) | (17,667,610) | (110,500) | |
Net Increase (Decrease)—ETF Shares | 20,175,246 | 96,103 | 32,847,249 | 194,934 | |
Admiral Shares | |||||
Issued | 19,598,236 | 193,197 | 32,397,184 | 424,606 | |
Issued in Lieu of Cash Distributions | 1,571,926 | 15,336 | 3,371,979 | 44,445 | |
Redeemed | (18,979,661) | (187,476) | (58,820,005) | (749,884) | |
Net Increase (Decrease)—Admiral Shares | 2,190,501 | 21,057 | (23,050,842) | (280,833) | |
Institutional Shares | |||||
Issued | 29,828,337 | 291,574 | 27,070,393 | 360,889 | |
Issued in Lieu of Cash Distributions | 1,252,183 | 12,195 | 2,476,296 | 32,636 | |
Redeemed | (10,933,507) | (108,569) | (31,348,875) | (403,732) | |
Net Increase (Decrease)—Institutional Shares | 20,147,013 | 195,200 | (1,802,186) | (10,207) | |
Institutional Plus Shares | |||||
Issued | 15,582,944 | 82,039 | 28,455,775 | 204,305 | |
Issued in Lieu of Cash Distributions | 1,594,979 | 8,294 | 3,238,183 | 22,739 | |
Redeemed | (7,752,419) | (40,503) | (30,452,535) | (212,599) | |
Net Increase (Decrease)—Institutional Plus Shares | 9,425,504 | 49,830 | 1,241,423 | 14,445 | |
Institutional Select Shares | |||||
Issued | 3,758,958 | 19,141 | 15,638,742 | 96,623 | |
Issued in Lieu of Cash Distributions | 300,247 | 1,489 | 503,956 | 3,296 | |
Redeemed | (5,359,110) | (27,395) | (4,693,431) | (30,863) | |
Net Increase (Decrease)—Institutional Select Shares | (1,299,905) | (6,765) | 11,449,267 | 69,056 |
Current Period Transactions | ||||||||
Dec. 31, 2020 Market Value ($000) | Purchases at Cost ($000) | Proceeds from Securities Sold1 ($000) | Realized Net Gain (Loss) ($000) | Change in Unrealized App. (Dep.) ($000) | Income ($000) | Capital Gain Distributions Received ($000) | Jun. 30, 2021 Market Value ($000) | |
180 Life Sciences Corp. | 2,919 | — | 5,959 | 3,375 | 1,334 | — | — | NA2 |
Avenue Therapeutics Inc. | 4,991 | — | 2,477 | (1,993) | 268 | — | — | NA2 |
Dare Bioscience Inc. | 3,618 | 714 | 3,639 | 1,554 | 333 | — | — | NA2 |
Lifevantage Corp. | 8,536 | 1,026 | 3,780 | (2,742) | 1,233 | — | — | NA2 |
Perma-Pipe International Holdings Inc. | 2,860 | — | 389 | (114) | 415 | — | — | 2,772 |
Research Solutions Inc. | 4,035 | — | 2,097 | 33 | 625 | — | — | NA2 |
Vanguard Market Liquidity Fund | 8,699,256 | NA3 | NA3 | — | — | 2,103 | — | 11,135,968 |
Total | 8,726,215 | 1,740 | 18,341 | 113 | 4,208 | 2,103 | — | 11,138,740 |
1 | Does not include adjustments related to return of capital. |
2 | Not applicable—at June 30, 2021, the security was still held, but the issuer was no longer an affiliated company of the fund. |
3 | Not applicable—purchases and sales are for temporary cash investment purposes. |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
U.S. Pat. Nos. 6,879,964; 7,337,138; 7,720,749;
7,925,573; 8,090,646; 8,417,623; and 8,626,636.
Vanguard Marketing Corporation, Distributor.
Item 2: Code of Ethics.
Not applicable.
Item 3: Audit Committee Financial Expert.
Not applicable.
Item 4: Principal Accountant Fees and Services.
Not applicable.
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Investments.
\
Shares | Market Value ($000) | |||||
Common Stocks (99.34%) | ||||||
Basic Materials (4.07%) | ||||||
Steel Dynamics Inc. | 4,994,495 | 297,672 | ||||
Mosaic Co. | 8,510,228 | 271,561 | ||||
*,1 | Cleveland-Cliffs Inc. | 11,189,074 | 241,236 | |||
Reliance Steel & Aluminum Co. | 1,586,000 | 239,327 | ||||
Scotts Miracle-Gro Co. | 971,187 | 186,390 | ||||
Royal Gold Inc. | 1,632,085 | 186,221 | ||||
Olin Corp. | 3,567,272 | 165,022 | ||||
* | Alcoa Corp. | 4,308,515 | 158,726 | |||
Valvoline Inc. | 4,508,611 | 146,350 | ||||
1 | United States Steel Corp. | 6,042,896 | 145,030 | |||
Chemours Co. | 4,118,118 | 143,311 | ||||
CF Industries Holdings Inc. | 2,669,786 | 137,360 | ||||
Timken Co. | 1,702,353 | 137,193 | ||||
Ashland Global Holdings Inc. | 1,511,516 | 132,258 | ||||
Huntsman Corp. | 4,964,599 | 131,661 | ||||
* | Hexcel Corp. | 2,085,711 | 130,148 | |||
* | RBC Bearings Inc. | 627,968 | 125,229 | |||
Element Solutions Inc. | 5,235,674 | 122,410 | ||||
W R Grace & Co. | 1,650,535 | 114,085 | ||||
Avient Corp. | 2,270,364 | 111,611 | ||||
UFP Industries Inc. | 1,463,120 | 108,768 | ||||
Balchem Corp. | 806,832 | 105,905 | ||||
* | Univar Solutions Inc. | 4,218,911 | 102,857 | |||
Hecla Mining Co. | 13,338,411 | 99,238 | ||||
Commercial Metals Co. | 2,998,055 | 92,100 | ||||
Sensient Technologies Corp. | 1,051,135 | 90,986 | ||||
* | Arconic Corp. | 2,463,848 | 87,762 | |||
* | Ingevity Corp. | 995,297 | 80,977 | |||
Cabot Corp. | 1,409,341 | 80,234 | ||||
Quaker Chemical Corp. | 333,350 | 79,067 | ||||
* | Amyris Inc. | 4,715,235 | 77,188 | |||
* | Livent Corp. | 3,967,589 | 76,813 | |||
*,1 | MP Materials Corp. | 2,041,771 | 75,260 | |||
NewMarket Corp. | 217,436 | 70,010 | ||||
* | Domtar Corp. | 1,248,959 | 68,643 | |||
Minerals Technologies Inc. | 838,244 | 65,945 | ||||
Stepan Co. | 534,380 | 64,270 | ||||
Tronox Holdings plc Class A | 2,856,715 | 63,990 | ||||
Mueller Industries Inc. | 1,346,976 | 58,338 | ||||
GrafTech International Ltd. | 4,982,939 | 57,902 | ||||
Boise Cascade Co. | 980,851 | 57,233 | ||||
Innospec Inc. | 610,643 | 55,330 | ||||
Worthington Industries Inc. | 853,879 | 52,240 | ||||
* | Coeur Mining Inc. | 5,745,254 | 51,018 | |||
Compass Minerals International Inc. | 848,757 | 50,297 | ||||
Kaiser Aluminum Corp. | 395,867 | 48,886 | ||||
Carpenter Technology Corp. | 1,192,732 | 47,972 | ||||
Materion Corp. | 508,903 | 38,346 | ||||
Westlake Chemical Corp. | 399,826 | 36,020 | ||||
Schweitzer-Mauduit International Inc. | 783,155 | 31,624 | ||||
Schnitzer Steel Industries Inc. Class A | 613,108 | 30,073 | ||||
* | GCP Applied Technologies Inc. | 1,274,166 | 29,637 | |||
* | Kraton Corp. | 759,509 | 24,525 | |||
PQ Group Holdings Inc. | 1,359,836 | 20,887 | ||||
* | Zymergen Inc. | 498,864 | 19,960 | |||
* | Koppers Holdings Inc. | 502,637 | 16,260 | |||
* | Century Aluminum Co. | 1,235,790 | 15,929 |
Shares | Market Value ($000) | |||||
Glatfelter Corp. | 1,113,950 | 15,562 | ||||
American Vanguard Corp. | 648,157 | 11,349 | ||||
Tredegar Corp. | 714,238 | 9,835 | ||||
FutureFuel Corp. | 323,340 | 3,104 | ||||
* | Hycroft Mining Holding Corp. Warrants Exp. 10/22/2022 | 19 | — | |||
5,595,141 | ||||||
Consumer Discretionary (15.82%) | ||||||
Pool Corp. | 948,446 | 435,014 | ||||
* | Tapestry Inc. | 6,941,632 | 301,822 | |||
Williams-Sonoma Inc. | 1,874,202 | 299,216 | ||||
* | RH | 418,202 | 283,959 | |||
* | Chegg Inc. | 3,356,058 | 278,922 | |||
* | Floor & Decor Holdings Inc. Class A | 2,611,902 | 276,078 | |||
* | Zynga Inc. Class A | 25,753,247 | 273,757 | |||
* | Norwegian Cruise Line Holdings Ltd. | 9,210,484 | 270,880 | |||
* | Five Below Inc. | 1,393,965 | 269,412 | |||
* | Deckers Outdoor Corp. | 701,362 | 269,372 | |||
Newell Brands Inc. | 9,527,494 | 261,720 | ||||
Lithia Motors Inc. Class A | 740,804 | 254,570 | ||||
Gap Inc. | 7,000,204 | 235,557 | ||||
* | Liberty Media Corp.-Liberty Formula One Class C | 4,810,343 | 231,907 | |||
* | Bright Horizons Family Solutions Inc. | 1,519,541 | 223,540 | |||
Nielsen Holdings plc | 8,924,009 | 220,155 | ||||
Kohl's Corp. | 3,922,705 | 216,180 | ||||
* | Capri Holdings Ltd. | 3,766,797 | 215,423 | |||
Service Corp. International | 3,977,241 | 213,140 | ||||
L Brands Inc. | 2,777,224 | 200,127 | ||||
Gentex Corp. | 6,014,476 | 199,019 | ||||
Polaris Inc. | 1,448,791 | 198,426 | ||||
Tempur Sealy International Inc. | 4,901,094 | 192,074 | ||||
* | PVH Corp. | 1,774,529 | 190,922 | |||
* | SiteOne Landscape Supply Inc. | 1,105,682 | 187,148 | |||
* | Alaska Air Group Inc. | 3,098,578 | 186,875 | |||
* | IAA Inc. | 3,354,486 | 182,954 | |||
* | Crocs Inc. | 1,543,192 | 179,813 | |||
* | YETI Holdings Inc. | 1,954,872 | 179,496 | |||
* | Scientific Games Corp. | 2,272,066 | 175,949 | |||
Harley-Davidson Inc. | 3,823,525 | 175,194 | ||||
* | Mattel Inc. | 8,678,260 | 174,433 | |||
Churchill Downs Inc. | 863,028 | 171,104 | ||||
* | American Airlines Group Inc. | 7,987,751 | 169,420 | |||
Toll Brothers Inc. | 2,910,529 | 168,258 | ||||
Wyndham Hotels & Resorts Inc. | 2,325,713 | 168,126 | ||||
* | Skechers USA Inc. Class A | 3,339,592 | 166,412 | |||
Leggett & Platt Inc. | 3,150,355 | 163,220 | ||||
* | BJ's Wholesale Club Holdings Inc. | 3,416,387 | 162,552 | |||
* | Fox Factory Holding Corp. | 1,044,157 | 162,534 | |||
Hanesbrands Inc. | 8,689,135 | 162,226 | ||||
* | AutoNation Inc. | 1,701,927 | 161,360 | |||
* | Marriott Vacations Worldwide Corp. | 1,009,335 | 160,787 | |||
Interpublic Group of Cos. Inc. | 4,897,283 | 159,113 | ||||
Texas Roadhouse Inc. Class A | 1,650,024 | 158,732 | ||||
* | Vail Resorts Inc. | 501,195 | 158,638 | |||
Foot Locker Inc. | 2,571,736 | 158,496 | ||||
*,1 | GameStop Corp. Class A | 739,810 | 158,423 | |||
* | Planet Fitness Inc. Class A | 2,072,157 | 155,930 | |||
New York Times Co. Class A | 3,535,355 | 153,965 | ||||
* | Terminix Global Holdings Inc. | 3,199,778 | 152,661 | |||
Nexstar Media Group Inc. Class A | 1,010,826 | 149,481 | ||||
Thor Industries Inc. | 1,308,899 | 147,906 | ||||
* | Macy's Inc. | 7,759,230 | 147,115 |
Shares | Market Value ($000) | |||||
Dick's Sporting Goods Inc. | 1,467,934 | 147,072 | ||||
1 | American Eagle Outfitters Inc. | 3,746,681 | 140,613 | |||
* | Helen of Troy Ltd. | 608,800 | 138,879 | |||
Ralph Lauren Corp. | 1,141,107 | 134,434 | ||||
* | JetBlue Airways Corp. | 7,886,883 | 132,342 | |||
Lear Corp. | 749,238 | 131,326 | ||||
AMERCO | 219,660 | 129,468 | ||||
Travel + Leisure Co. | 2,145,366 | 127,542 | ||||
* | Boyd Gaming Corp. | 1,953,027 | 120,092 | |||
* | Goodyear Tire & Rubber Co. | 6,949,123 | 119,177 | |||
* | Penn National Gaming Inc. | 1,546,788 | 118,314 | |||
Aramark | 3,171,562 | 118,141 | ||||
Qurate Retail Inc. Class A | 8,969,829 | 117,415 | ||||
Wingstop Inc. | 740,230 | 116,682 | ||||
*,1 | Luminar Technologies Inc. Class A | 5,174,649 | 113,584 | |||
* | Sonos Inc. | 3,099,344 | 109,190 | |||
Carter's Inc. | 1,039,905 | 107,287 | ||||
Choice Hotels International Inc. | 898,378 | 106,781 | ||||
* | frontdoor Inc. | 2,131,486 | 106,191 | |||
H&R Block Inc. | 4,516,014 | 106,036 | ||||
* | Ollie's Bargain Outlet Holdings Inc. | 1,249,694 | 105,137 | |||
* | Grand Canyon Education Inc. | 1,153,371 | 103,769 | |||
*,1 | National Vision Holdings Inc. | 2,024,539 | 103,515 | |||
Wendy's Co. | 4,409,483 | 103,270 | ||||
TEGNA Inc. | 5,503,214 | 103,240 | ||||
* | Nordstrom Inc. | 2,768,469 | 101,243 | |||
* | Callaway Golf Co. | 2,986,517 | 100,735 | |||
* | Signet Jewelers Ltd. | 1,239,032 | 100,101 | |||
* | TripAdvisor Inc. | 2,470,222 | 99,550 | |||
* | Sabre Corp. | 7,953,159 | 99,255 | |||
* | Under Armour Inc. Class A | 4,682,293 | 99,031 | |||
* | Shake Shack Inc. Class A | 923,829 | 98,868 | |||
* | Stitch Fix Inc. Class A | 1,610,950 | 97,140 | |||
* | Avis Budget Group Inc. | 1,217,795 | 94,854 | |||
* | Overstock.com Inc. | 1,016,908 | 93,759 | |||
* | Cardlytics Inc. | 735,960 | 93,415 | |||
* | Under Armour Inc. Class C | 4,966,399 | 92,226 | |||
* | LGI Homes Inc. | 557,853 | 90,339 | |||
KB Home | 2,176,490 | 88,627 | ||||
* | Hilton Grand Vacations Inc. | 2,127,636 | 88,063 | |||
Cracker Barrel Old Country Store Inc. | 590,367 | 87,646 | ||||
* | Stamps.com Inc. | 433,349 | 86,795 | |||
Dana Inc. | 3,608,618 | 85,741 | ||||
Murphy USA Inc. | 636,441 | 84,882 | ||||
* | Visteon Corp. | 696,206 | 84,199 | |||
* | Meritage Homes Corp. | 894,452 | 84,150 | |||
* | Bed Bath & Beyond Inc. | 2,522,748 | 83,982 | |||
Rent-A-Center Inc. | 1,567,724 | 83,199 | ||||
* | Asbury Automotive Group Inc. | 481,344 | 82,488 | |||
* | Spirit Airlines Inc. | 2,699,157 | 82,162 | |||
Columbia Sportswear Co. | 826,567 | 81,301 | ||||
Steven Madden Ltd. | 1,852,987 | 81,087 | ||||
PROG Holdings Inc. | 1,683,961 | 81,049 | ||||
Papa John's International Inc. | 773,038 | 80,736 | ||||
* | Taylor Morrison Home Corp. Class A | 3,047,021 | 80,502 | |||
* | Madison Square Garden Sports Corp. | 462,739 | 79,855 | |||
LCI Industries | 597,302 | 78,497 | ||||
* | Six Flags Entertainment Corp. | 1,804,909 | 78,116 | |||
* | Leslie's Inc. | 2,804,033 | 77,083 | |||
* | Hyatt Hotels Corp. Class A | 972,098 | 75,474 | |||
*,1 | 2U Inc. | 1,760,945 | 73,379 |
Shares | Market Value ($000) | |||||
Kontoor Brands Inc. | 1,291,390 | 72,847 | ||||
* | Allegiant Travel Co. | 375,342 | 72,816 | |||
* | Abercrombie & Fitch Co. Class A | 1,541,002 | 71,549 | |||
* | Coty Inc. Class A | 7,625,893 | 71,226 | |||
MDC Holdings Inc. | 1,397,518 | 70,714 | ||||
* | Brinker International Inc. | 1,139,614 | 70,485 | |||
*,1 | Fisker Inc. | 3,651,791 | 70,407 | |||
* | Dorman Products Inc. | 678,637 | 70,354 | |||
Wolverine World Wide Inc. | 2,062,644 | 69,387 | ||||
Herman Miller Inc. | 1,465,980 | 69,106 | ||||
* | Red Rock Resorts Inc. Class A | 1,588,801 | 67,524 | |||
* | Academy Sports & Outdoors Inc. | 1,635,193 | 67,435 | |||
Group 1 Automotive Inc. | 430,007 | 66,406 | ||||
* | iRobot Corp. | 699,915 | 65,365 | |||
World Wrestling Entertainment Inc. Class A | 1,126,588 | 65,218 | ||||
* | SeaWorld Entertainment Inc. | 1,280,952 | 63,971 | |||
* | Sleep Number Corp. | 578,635 | 63,621 | |||
* | Cheesecake Factory Inc. | 1,173,560 | 63,584 | |||
John Wiley & Sons Inc. Class A | 1,048,324 | 63,088 | ||||
* | Tri Pointe Homes Inc. | 2,943,708 | 63,084 | |||
* | Sally Beauty Holdings Inc. | 2,813,421 | 62,092 | |||
* | Revolve Group Inc. Class A | 890,805 | 61,376 | |||
Penske Automotive Group Inc. | 805,143 | 60,780 | ||||
* | Urban Outfitters Inc. | 1,467,932 | 60,508 | |||
Graham Holdings Co. Class B | 95,269 | 60,391 | ||||
*,1 | Coursera Inc. | 1,521,231 | 60,180 | |||
* | Bloomin' Brands Inc. | 2,210,412 | 59,991 | |||
* | ODP Corp. | 1,226,454 | 58,882 | |||
* | Selectquote Inc. | 3,049,946 | 58,742 | |||
Jack in the Box Inc. | 524,980 | 58,504 | ||||
* | Gentherm Inc. | 822,361 | 58,429 | |||
Big Lots Inc. | 874,061 | 57,697 | ||||
* | Cinemark Holdings Inc. | 2,527,024 | 55,468 | |||
Levi Strauss & Co. Class A | 1,968,421 | 54,565 | ||||
* | KAR Auction Services Inc. | 3,103,542 | 54,467 | |||
* | SkyWest Inc. | 1,251,080 | 53,884 | |||
PriceSmart Inc. | 573,422 | 52,187 | ||||
Monro Inc. | 789,648 | 50,151 | ||||
* | Lions Gate Entertainment Corp. Class B | 2,682,368 | 49,087 | |||
* | Central Garden & Pet Co. Class A | 1,005,432 | 48,562 | |||
Rush Enterprises Inc. Class A | 1,111,646 | 48,068 | ||||
* | WW International Inc. | 1,297,186 | 46,880 | |||
Strategic Education Inc. | 612,824 | 46,611 | ||||
* | AMC Networks Inc. Class A | 689,059 | 46,029 | |||
* | Knowles Corp. | 2,310,051 | 45,600 | |||
HNI Corp. | 1,027,065 | 45,160 | ||||
*,1 | Petco Health & Wellness Co. Inc. Class A | 1,973,588 | 44,228 | |||
* | Dave & Buster's Entertainment Inc. | 1,071,145 | 43,489 | |||
La-Z-Boy Inc. | 1,155,883 | 42,814 | ||||
Camping World Holdings Inc. Class A | 1,025,890 | 42,051 | ||||
* | Meredith Corp. | 961,193 | 41,754 | |||
* | Adtalem Global Education Inc. | 1,167,978 | 41,627 | |||
Acushnet Holdings Corp. | 826,674 | 40,838 | ||||
Sinclair Broadcast Group Inc. Class A | 1,219,340 | 40,507 | ||||
Oxford Industries Inc. | 400,216 | 39,557 | ||||
Sturm Ruger & Co. Inc. | 438,884 | 39,491 | ||||
* | Tenneco Inc. Class A | 2,037,210 | 39,359 | |||
* | Madison Square Garden Entertainment Corp. | 462,295 | 38,819 | |||
* | Laureate Education Inc. Class A | 2,582,856 | 37,477 | |||
Buckle Inc. | 743,318 | 36,980 | ||||
* | Dine Brands Global Inc. | 407,499 | 36,369 |
Shares | Market Value ($000) | |||||
*,1 | Canoo Inc. | 3,540,775 | 35,195 | |||
* | GoPro Inc. Class A | 2,962,519 | 34,513 | |||
* | iHeartMedia Inc. Class A | 1,253,808 | 33,765 | |||
* | G-III Apparel Group Ltd. | 1,022,961 | 33,615 | |||
* | Vista Outdoor Inc. | 717,123 | 33,188 | |||
Knoll Inc. | 1,269,465 | 32,993 | ||||
* | Stride Inc. | 985,026 | 31,649 | |||
*,1 | Lordstown Motors Corp. | 2,851,584 | 31,539 | |||
Inter Parfums Inc. | 434,485 | 31,283 | ||||
* | elf Beauty Inc. | 1,150,489 | 31,224 | |||
* | RealReal Inc. | 1,577,906 | 31,179 | |||
* | Lions Gate Entertainment Corp. Class A | 1,503,159 | 31,115 | |||
Steelcase Inc. Class A | 2,012,693 | 30,412 | ||||
* | At Home Group Inc. | 815,333 | 30,037 | |||
* | Hawaiian Holdings Inc. | 1,207,201 | 29,420 | |||
EW Scripps Co. Class A | 1,410,302 | 28,756 | ||||
*,1 | Figs Inc. Class A | 573,741 | 28,744 | |||
1 | Dillard's Inc. Class A | 155,422 | 28,113 | |||
* | American Axle & Manufacturing Holdings Inc. | 2,707,438 | 28,022 | |||
Aaron's Co. Inc. | 851,853 | 27,251 | ||||
Matthews International Corp. Class A | 755,941 | 27,184 | ||||
* | BJ's Restaurants Inc. | 551,075 | 27,080 | |||
* | Zumiez Inc. | 544,477 | 26,674 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 614,233 | 26,185 | |||
* | Driven Brands Holdings Inc. | 835,705 | 25,840 | |||
Guess? Inc. | 968,794 | 25,576 | ||||
* | Designer Brands Inc. Class A | 1,534,349 | 25,394 | |||
*,1 | ContextLogic Inc. Class A | 1,890,512 | 24,898 | |||
* | Cavco Industries Inc. | 109,546 | 24,340 | |||
* | Angi Inc. Class A | 1,749,335 | 23,651 | |||
* | Clear Channel Outdoor Holdings Inc. | 8,818,311 | 23,280 | |||
* | Cars.com Inc. | 1,621,168 | 23,231 | |||
Sonic Automotive Inc. Class A | 517,373 | 23,147 | ||||
*,1 | XL Fleet Corp. | 2,768,060 | 23,058 | |||
*,1 | Corsair Gaming Inc. | 686,384 | 22,850 | |||
Interface Inc. Class A | 1,471,301 | 22,511 | ||||
Smith & Wesson Brands Inc. | 630,526 | 21,879 | ||||
* | Quotient Technology Inc. | 1,865,821 | 20,170 | |||
* | Latham Group Inc. | 598,716 | 19,135 | |||
*,1 | Poshmark Inc. Class A | 343,425 | 16,395 | |||
* | Children's Place Inc. | 174,354 | 16,225 | |||
* | Sun Country Airlines Holdings Inc. | 429,610 | 15,900 | |||
*,1 | Cricut Inc. Class A | 369,127 | 15,725 | |||
Scholastic Corp. | 402,313 | 15,244 | ||||
* | Vizio Holding Corp. Class A | 526,816 | 14,229 | |||
* | Frontier Group Holdings Inc. | 803,894 | 13,698 | |||
Caleres Inc. | 454,534 | 12,404 | ||||
* | Central Garden & Pet Co. | 227,236 | 12,028 | |||
* | MSG Networks Inc. Class A | 805,228 | 11,740 | |||
* | ACV Auctions Inc. Class A | 452,553 | 11,599 | |||
* | Genesco Inc. | 178,373 | 11,359 | |||
*,1 | Dream Finders Homes Inc. Class A | 446,369 | 10,905 | |||
*,1 | ThredUp Inc. Class A | 353,760 | 10,287 | |||
* | El Pollo Loco Holdings Inc. | 458,495 | 8,386 | |||
Global Industrial Co. | 219,555 | 8,060 | ||||
* | Lands' End Inc. | 183,100 | 7,516 | |||
Rush Enterprises Inc. Class B | 171,332 | 6,535 | ||||
* | American Public Education Inc. | 216,702 | 6,141 | |||
*,1 | Revlon Inc. Class A | 202,936 | 2,606 | |||
* | Mister Car Wash Inc. | 54,977 | 1,184 | |||
* | Integral Ad Science Holding Corp. | 27,582 | 568 |
Shares | Market Value ($000) | |||||
* | Caesars Entertainment Inc. | 1,172 | 122 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 144 | 8 | |||
21,763,337 | ||||||
Consumer Staples (3.13%) | ||||||
* | Darling Ingredients Inc. | 4,062,191 | 274,198 | |||
Bunge Ltd. | 3,344,950 | 261,408 | ||||
*,1 | Boston Beer Co. Inc. Class A | 226,508 | 231,219 | |||
*,1 | Beyond Meat Inc. | 1,334,589 | 210,184 | |||
* | US Foods Holding Corp. | 4,971,548 | 190,709 | |||
Casey's General Stores Inc. | 919,376 | 178,947 | ||||
* | Freshpet Inc. | 1,022,749 | 166,667 | |||
* | Performance Food Group Co. | 3,330,303 | 161,486 | |||
* | Post Holdings Inc. | 1,423,695 | 154,428 | |||
Ingredion Inc. | 1,583,873 | 143,341 | ||||
* | Herbalife Nutrition Ltd. | 2,643,813 | 139,408 | |||
* | Molson Coors Beverage Co. Class B | 2,247,059 | 120,645 | |||
Flowers Foods Inc. | 4,742,240 | 114,762 | ||||
Sanderson Farms Inc. | 499,800 | 93,947 | ||||
Lancaster Colony Corp. | 479,623 | 92,812 | ||||
WD-40 Co. | 340,950 | 87,382 | ||||
Spectrum Brands Holdings Inc. | 1,007,715 | 85,696 | ||||
* | Hain Celestial Group Inc. | 2,109,434 | 84,631 | |||
Medifast Inc. | 278,235 | 78,735 | ||||
* | Simply Good Foods Co. | 2,142,726 | 78,231 | |||
* | Grocery Outlet Holding Corp. | 2,142,004 | 74,242 | |||
Energizer Holdings Inc. | 1,700,778 | 73,100 | ||||
* | Sprouts Farmers Market Inc. | 2,936,820 | 72,980 | |||
Nu Skin Enterprises Inc. Class A | 1,244,510 | 70,502 | ||||
* | TreeHouse Foods Inc. | 1,401,849 | 62,410 | |||
J & J Snack Foods Corp. | 354,366 | 61,805 | ||||
Edgewell Personal Care Co. | 1,352,704 | 59,384 | ||||
* | Celsius Holdings Inc. | 728,431 | 55,426 | |||
1 | B&G Foods Inc. | 1,615,020 | 52,973 | |||
* | United Natural Foods Inc. | 1,402,172 | 51,852 | |||
Core-Mark Holding Co. Inc. | 1,125,315 | 50,651 | ||||
* | Hostess Brands Inc. Class A | 3,113,489 | 50,407 | |||
Coca-Cola Consolidated Inc. | 115,714 | 46,532 | ||||
Vector Group Ltd. | 3,273,836 | 46,292 | ||||
Reynolds Consumer Products Inc. | 1,307,557 | 39,684 | ||||
Cal-Maine Foods Inc. | 990,594 | 35,869 | ||||
Utz Brands Inc. | 1,615,502 | 35,202 | ||||
*,1 | Hydrofarm Holdings Group Inc. | 595,470 | 35,198 | |||
* | Beauty Health Co. | 2,023,965 | 34,003 | |||
Universal Corp. | 585,746 | 33,370 | ||||
* | USANA Health Sciences Inc. | 302,369 | 30,972 | |||
* | BellRing Brands Inc. Class A | 984,247 | 30,846 | |||
Fresh Del Monte Produce Inc. | 894,621 | 29,415 | ||||
National Beverage Corp. | 581,409 | 27,460 | ||||
* | Pilgrim's Pride Corp. | 1,213,425 | 26,914 | |||
*,1 | AppHarvest Inc. | 1,498,386 | 23,974 | |||
Andersons Inc. | 744,584 | 22,732 | ||||
Seaboard Corp. | 5,805 | 22,458 | ||||
* | Rite Aid Corp. | 1,305,005 | 21,272 | |||
Weis Markets Inc. | 406,046 | 20,976 | ||||
ACCO Brands Corp. | 2,258,676 | 19,492 | ||||
1 | Tootsie Roll Industries Inc. | 397,752 | 13,488 | |||
*,1 | Honest Co. Inc. | 674,392 | 10,918 | |||
* | Duckhorn Portfolio Inc. | 430,502 | 9,497 |
Shares | Market Value ($000) | |||||
* | Vital Farms Inc. | 444,272 | 8,868 | |||
* | ESC Co. | 639,465 | — | |||
4,310,000 | ||||||
Energy (4.26%) | ||||||
Diamondback Energy Inc. | 4,505,533 | 423,024 | ||||
* | Enphase Energy Inc. | 1,520,262 | 279,166 | |||
Marathon Oil Corp. | 19,612,998 | 267,129 | ||||
Targa Resources Corp. | 5,691,790 | 253,000 | ||||
Texas Pacific Land Corp. | 154,491 | 247,145 | ||||
Devon Energy Corp. | 8,425,440 | 245,939 | ||||
* | First Solar Inc. | 2,382,335 | 215,625 | |||
Ovintiv Inc. | 6,498,677 | 204,513 | ||||
APA Corp. | 9,408,824 | 203,513 | ||||
Cimarex Energy Co. | 2,558,934 | 185,395 | ||||
Cabot Oil & Gas Corp. | 9,952,361 | 173,768 | ||||
* | EQT Corp. | 6,946,733 | 154,634 | |||
* | NOV Inc. | 9,714,595 | 148,828 | |||
* | ChampionX Corp. | 5,009,661 | 128,498 | |||
Chesapeake Energy Corp. | 2,436,768 | 126,517 | ||||
HollyFrontier Corp. | 3,639,013 | 119,724 | ||||
PDC Energy Inc. | 2,418,701 | 110,752 | ||||
*,1 | Stem Inc. | 2,814,710 | 101,358 | |||
* | Range Resources Corp. | 5,817,345 | 97,499 | |||
* | Antero Resources Corp. | 6,390,408 | 96,048 | |||
*,1 | Southwestern Energy Co. | 16,849,446 | 95,536 | |||
Matador Resources Co. | 2,615,226 | 94,174 | ||||
* | Denbury Inc. | 1,181,714 | 90,732 | |||
Equitrans Midstream Corp. | 10,213,231 | 86,915 | ||||
Murphy Oil Corp. | 3,655,050 | 85,090 | ||||
Antero Midstream Corp. | 7,721,572 | 80,227 | ||||
Helmerich & Payne Inc. | 2,411,794 | 78,697 | ||||
* | Shoals Technologies Group Inc. Class A | 2,210,925 | 78,488 | |||
New Fortress Energy Inc. Class A | 2,057,337 | 77,932 | ||||
Arcosa Inc. | 1,197,255 | 70,327 | ||||
* | Renewable Energy Group Inc. | 1,126,563 | 70,230 | |||
Continental Resources Inc. | 1,828,420 | 69,535 | ||||
* | FuelCell Energy Inc. | 7,625,882 | 67,870 | |||
*,1 | Transocean Ltd. | 14,604,878 | 66,014 | |||
* | CNX Resources Corp. | 4,656,408 | 63,607 | |||
*,1 | SunPower Corp. | 2,147,154 | 62,740 | |||
*,1 | California Resources Corp. | 1,866,433 | 56,254 | |||
*,1 | ChargePoint Holdings Inc. | 1,557,198 | 54,097 | |||
* | Magnolia Oil & Gas Corp. Class A | 3,280,737 | 51,278 | |||
Cactus Inc. Class A | 1,353,304 | 49,693 | ||||
* | Array Technologies Inc. | 3,162,565 | 49,336 | |||
World Fuel Services Corp. | 1,493,943 | 47,403 | ||||
Core Laboratories NV | 1,149,991 | 44,792 | ||||
Patterson-UTI Energy Inc. | 4,480,511 | 44,536 | ||||
* | Oceaneering International Inc. | 2,485,907 | 38,706 | |||
* | PBF Energy Inc. Class A | 2,392,229 | 36,601 | |||
SM Energy Co. | 1,465,635 | 36,099 | ||||
* | Liberty Oilfield Services Inc. Class A | 2,542,260 | 35,998 | |||
Delek US Holdings Inc. | 1,657,310 | 35,831 | ||||
Archrock Inc. | 3,843,051 | 34,242 | ||||
* | Dril-Quip Inc. | 882,970 | 29,871 | |||
* | NOW Inc. | 2,751,872 | 26,115 | |||
Warrior Met Coal Inc. | 1,287,511 | 22,145 | ||||
* | Ameresco Inc. Class A | 350,146 | 21,961 | |||
* | Arch Resources Inc. | 362,396 | 20,649 | |||
* | Helix Energy Solutions Group Inc. | 3,592,198 | 20,511 | |||
* | NexTier Oilfield Solutions Inc. | 4,308,442 | 20,508 |
Shares | Market Value ($000) | |||||
* | ProPetro Holding Corp. | 2,162,249 | 19,806 | |||
* | MRC Global Inc. | 1,957,103 | 18,397 | |||
CVR Energy Inc. | 753,122 | 13,526 | ||||
* | RPC Inc. | 1,624,621 | 8,042 | |||
* | Denbury Inc. Warrants Exp. 09/18/2023 | 2 | — | |||
5,856,586 | ||||||
Financials (13.62%) | ||||||
Signature Bank | 1,433,846 | 352,224 | ||||
Apollo Global Management Inc. | 5,205,052 | 323,754 | ||||
Brown & Brown Inc. | 5,962,465 | 316,845 | ||||
Invesco Ltd. | 10,339,327 | 276,370 | ||||
LPL Financial Holdings Inc. | 1,890,729 | 255,211 | ||||
East West Bancorp Inc. | 3,531,727 | 253,189 | ||||
Comerica Inc. | 3,476,817 | 248,036 | ||||
Ares Management Corp. Class A | 3,837,954 | 244,055 | ||||
First Horizon Corp. | 13,754,589 | 237,679 | ||||
Assurant Inc. | 1,507,690 | 235,471 | ||||
Carlyle Group Inc. | 4,854,403 | 225,633 | ||||
American Financial Group Inc. | 1,800,946 | 224,614 | ||||
Zions Bancorp NA | 4,077,786 | 215,552 | ||||
Western Alliance Bancorp | 2,318,495 | 215,272 | ||||
* | Athene Holding Ltd. Class A | 3,103,702 | 209,500 | |||
Commerce Bancshares Inc. | 2,621,977 | 195,495 | ||||
Reinsurance Group of America Inc. | 1,692,611 | 192,958 | ||||
Voya Financial Inc. | 3,017,888 | 185,600 | ||||
RenaissanceRe Holdings Ltd. | 1,235,337 | 183,843 | ||||
People's United Financial Inc. | 10,644,076 | 182,439 | ||||
Old Republic International Corp. | 7,209,352 | 179,585 | ||||
Starwood Property Trust Inc. | 6,784,982 | 177,563 | ||||
1 | SLM Corp. | 8,041,240 | 168,384 | |||
Janus Henderson Group plc | 4,288,499 | 166,437 | ||||
First Financial Bankshares Inc. | 3,365,263 | 165,335 | ||||
First American Financial Corp. | 2,595,310 | 161,818 | ||||
Stifel Financial Corp. | 2,484,625 | 161,153 | ||||
Cullen/Frost Bankers Inc. | 1,423,015 | 159,378 | ||||
Pinnacle Financial Partners Inc. | 1,799,502 | 158,878 | ||||
Prosperity Bancshares Inc. | 2,198,204 | 157,831 | ||||
Jefferies Financial Group Inc. | 4,613,145 | 157,770 | ||||
Synovus Financial Corp. | 3,512,361 | 154,122 | ||||
Affiliated Managers Group Inc. | 985,184 | 151,925 | ||||
Morningstar Inc. | 588,147 | 151,218 | ||||
Primerica Inc. | 981,361 | 150,286 | ||||
South State Corp. | 1,769,702 | 144,691 | ||||
Lincoln National Corp. | 2,251,306 | 141,472 | ||||
Popular Inc. | 1,865,765 | 140,026 | ||||
Valley National Bancorp | 10,093,690 | 135,558 | ||||
Glacier Bancorp Inc. | 2,377,226 | 130,938 | ||||
OneMain Holdings Inc. | 2,177,077 | 130,429 | ||||
Unum Group | 4,575,126 | 129,934 | ||||
Bank OZK | 3,050,046 | 128,590 | ||||
CIT Group Inc. | 2,465,295 | 127,185 | ||||
Erie Indemnity Co. Class A | 632,135 | 122,223 | ||||
Evercore Inc. Class A | 866,883 | 122,031 | ||||
Selective Insurance Group Inc. | 1,492,946 | 121,153 | ||||
Lazard Ltd. Class A | 2,666,378 | 120,654 | ||||
Webster Financial Corp. | 2,251,565 | 120,098 | ||||
Essent Group Ltd. | 2,669,017 | 119,972 | ||||
PacWest Bancorp | 2,907,987 | 119,693 | ||||
New York Community Bancorp Inc. | 10,788,029 | 118,884 | ||||
First Citizens BancShares Inc. Class A | 142,674 | 118,810 | ||||
Sterling Bancorp | 4,792,074 | 118,796 |
Shares | Market Value ($000) | |||||
United Bankshares Inc. | 3,214,231 | 117,319 | ||||
New Residential Investment Corp. | 11,022,281 | 116,726 | ||||
* | Open Lending Corp. Class A | 2,668,555 | 114,988 | |||
MGIC Investment Corp. | 8,442,571 | 114,819 | ||||
Kemper Corp. | 1,526,707 | 112,824 | ||||
RLI Corp. | 1,067,827 | 111,684 | ||||
Blackstone Mortgage Trust Inc. Class A | 3,471,424 | 110,704 | ||||
AGNC Investment Corp. | 6,532,830 | 110,339 | ||||
* | Alleghany Corp. | 164,779 | 109,919 | |||
Hanover Insurance Group Inc. | 803,926 | 109,045 | ||||
Wintrust Financial Corp. | 1,417,691 | 107,220 | ||||
UMB Financial Corp. | 1,145,369 | 106,588 | ||||
Radian Group Inc. | 4,758,200 | 105,870 | ||||
Houlihan Lokey Inc. Class A | 1,279,587 | 104,657 | ||||
*,1 | Credit Acceptance Corp. | 228,917 | 103,953 | |||
* | Trupanion Inc. | 897,634 | 103,318 | |||
Community Bank System Inc. | 1,338,007 | 101,220 | ||||
Umpqua Holdings Corp. | 5,481,085 | 101,126 | ||||
Pacific Premier Bancorp Inc. | 2,352,155 | 99,473 | ||||
SEI Investments Co. | 1,600,758 | 99,199 | ||||
BankUnited Inc. | 2,316,918 | 98,909 | ||||
FNB Corp. | 7,933,256 | 97,817 | ||||
* | Brighthouse Financial Inc. | 2,133,144 | 97,143 | |||
Hancock Whitney Corp. | 2,158,200 | 95,910 | ||||
Axis Capital Holdings Ltd. | 1,896,638 | 92,954 | ||||
*,1 | Lemonade Inc. | 840,541 | 91,964 | |||
First Hawaiian Inc. | 3,239,792 | 91,816 | ||||
Home BancShares Inc. | 3,683,978 | 90,921 | ||||
Kinsale Capital Group Inc. | 539,829 | 88,948 | ||||
Moelis & Co. Class A | 1,526,647 | 86,851 | ||||
Chimera Investment Corp. | 5,724,886 | 86,217 | ||||
Eastern Bankshares Inc. | 4,180,888 | 86,001 | ||||
Bank of Hawaii Corp. | 1,007,158 | 84,823 | ||||
Assured Guaranty Ltd. | 1,782,329 | 84,625 | ||||
White Mountains Insurance Group Ltd. | 73,421 | 84,290 | ||||
Ameris Bancorp | 1,645,822 | 83,328 | ||||
ServisFirst Bancshares Inc. | 1,215,139 | 82,605 | ||||
Navient Corp. | 4,238,687 | 81,934 | ||||
* | Texas Capital Bancshares Inc. | 1,259,096 | 79,940 | |||
Federated Hermes Inc. Class B | 2,329,230 | 78,984 | ||||
Investors Bancorp Inc. | 5,538,602 | 78,980 | ||||
Artisan Partners Asset Management Inc. Class A | 1,532,690 | 77,891 | ||||
* | Enstar Group Ltd. | 323,599 | 77,314 | |||
CNO Financial Group Inc. | 3,267,037 | 77,167 | ||||
Simmons First National Corp. Class A | 2,554,737 | 74,956 | ||||
Walker & Dunlop Inc. | 710,906 | 74,204 | ||||
FirstCash Inc. | 969,454 | 74,105 | ||||
Cathay General Bancorp | 1,877,599 | 73,902 | ||||
Associated Banc-Corp | 3,606,962 | 73,871 | ||||
* | Cannae Holdings Inc. | 2,165,434 | 73,430 | |||
Atlantic Union Bankshares Corp. | 1,975,167 | 71,541 | ||||
BancorpSouth Bank | 2,472,362 | 70,042 | ||||
Hamilton Lane Inc. Class A | 767,202 | 69,907 | ||||
Old National Bancorp | 3,935,716 | 69,308 | ||||
American Equity Investment Life Holding Co. | 2,136,038 | 69,037 | ||||
United Community Banks Inc. | 2,154,084 | 68,952 | ||||
Columbia Banking System Inc. | 1,782,660 | 68,739 | ||||
Independent Bank Group Inc. | 911,470 | 67,431 | ||||
CVB Financial Corp. | 3,201,390 | 65,917 | ||||
Virtu Financial Inc. Class A | 2,382,359 | 65,825 | ||||
Fulton Financial Corp. | 4,078,956 | 64,366 |
Shares | Market Value ($000) | |||||
First Bancorp | 5,362,567 | 63,922 | ||||
Cadence Bancorp Class A | 2,945,380 | 61,500 | ||||
International Bancshares Corp. | 1,415,087 | 60,764 | ||||
BOK Financial Corp. | 691,192 | 59,857 | ||||
* | LendingTree Inc. | 281,890 | 59,727 | |||
Independent Bank Corp. (Massachusetts) | 779,203 | 58,830 | ||||
* | Axos Financial Inc. | 1,257,101 | 58,317 | |||
* | Focus Financial Partners Inc. Class A | 1,190,794 | 57,753 | |||
Washington Federal Inc. | 1,798,714 | 57,163 | ||||
First Merchants Corp. | 1,356,009 | 56,505 | ||||
WesBanco Inc. | 1,583,227 | 56,410 | ||||
First Midwest Bancorp Inc. | 2,836,207 | 56,242 | ||||
Hilltop Holdings Inc. | 1,542,247 | 56,138 | ||||
Piper Sandler Cos. | 433,022 | 56,102 | ||||
Apollo Commercial Real Estate Finance Inc. | 3,501,880 | 55,855 | ||||
Flagstar Bancorp Inc. | 1,317,549 | 55,693 | ||||
Santander Consumer USA Holdings Inc. | 1,525,177 | 55,394 | ||||
WSFS Financial Corp. | 1,181,259 | 55,035 | ||||
First Financial Bancorp | 2,290,966 | 54,136 | ||||
Renasant Corp. | 1,338,151 | 53,526 | ||||
Goosehead Insurance Inc. Class A | 413,467 | 52,634 | ||||
Two Harbors Investment Corp. | 6,803,549 | 51,435 | ||||
PennyMac Mortgage Investment Trust | 2,429,861 | 51,173 | ||||
PennyMac Financial Services Inc. | 828,955 | 51,163 | ||||
Virtus Investment Partners Inc. | 181,285 | 50,356 | ||||
MFA Financial Inc. | 10,945,443 | 50,240 | ||||
Cohen & Steers Inc. | 600,004 | 49,254 | ||||
* | Genworth Financial Inc. Class A | 12,622,764 | 49,229 | |||
Towne Bank | 1,615,945 | 49,157 | ||||
* | Upstart Holdings Inc. | 383,294 | 47,873 | |||
BGC Partners Inc. Class A | 8,409,647 | 47,683 | ||||
Great Western Bancorp Inc. | 1,374,786 | 45,079 | ||||
Mercury General Corp. | 691,761 | 44,930 | ||||
Eagle Bancorp Inc. | 798,405 | 44,775 | ||||
Banner Corp. | 817,962 | 44,342 | ||||
Trustmark Corp. | 1,432,442 | 44,119 | ||||
Park National Corp. | 368,114 | 43,224 | ||||
Argo Group International Holdings Ltd. | 826,011 | 42,812 | ||||
Hope Bancorp Inc. | 2,942,082 | 41,719 | ||||
* | PRA Group Inc. | 1,081,373 | 41,600 | |||
Northwest Bancshares Inc. | 3,045,135 | 41,536 | ||||
First Interstate BancSystem Inc. Class A | 980,341 | 41,008 | ||||
Provident Financial Services Inc. | 1,755,621 | 40,186 | ||||
Capitol Federal Financial Inc. | 3,314,386 | 39,043 | ||||
Horace Mann Educators Corp. | 1,036,748 | 38,795 | ||||
BancFirst Corp. | 610,900 | 38,138 | ||||
NBT Bancorp Inc. | 1,036,428 | 37,280 | ||||
Westamerica Bancorp | 639,380 | 37,103 | ||||
* | Encore Capital Group Inc. | 769,793 | 36,480 | |||
1 | iStar Inc. | 1,743,926 | 36,152 | |||
* | SiriusPoint Ltd. | 3,407,675 | 34,315 | |||
Redwood Trust Inc. | 2,821,677 | 34,058 | ||||
First Commonwealth Financial Corp. | 2,417,660 | 34,016 | ||||
*,1 | Riot Blockchain Inc. | 888,202 | 33,459 | |||
Broadmark Realty Capital Inc. | 3,158,002 | 33,443 | ||||
Berkshire Hills Bancorp Inc. | 1,213,980 | 33,275 | ||||
Ladder Capital Corp. | 2,858,108 | 32,983 | ||||
StepStone Group Inc. Class A | 954,279 | 32,827 | ||||
* | Silvergate Capital Corp. Class A | 283,343 | 32,108 | |||
ProAssurance Corp. | 1,347,194 | 30,649 | ||||
S&T Bancorp Inc. | 978,454 | 30,626 |
Shares | Market Value ($000) | |||||
Boston Private Financial Holdings Inc. | 2,063,188 | 30,432 | ||||
American National Group Inc. | 201,732 | 29,967 | ||||
Employers Holdings Inc. | 677,772 | 29,009 | ||||
OFG Bancorp | 1,298,055 | 28,713 | ||||
TFS Financial Corp. | 1,400,458 | 28,429 | ||||
City Holding Co. | 376,029 | 28,292 | ||||
Brookline Bancorp Inc. | 1,867,060 | 27,913 | ||||
Safety Insurance Group Inc. | 355,808 | 27,853 | ||||
1 | Invesco Mortgage Capital Inc. | 7,099,070 | 27,686 | |||
National Bank Holdings Corp. Class A | 733,378 | 27,678 | ||||
Nelnet Inc. Class A | 339,553 | 25,545 | ||||
Tompkins Financial Corp. | 319,512 | 24,781 | ||||
* | Oscar Health Inc. Class A | 1,074,128 | 23,094 | |||
* | Palomar Holdings Inc. | 303,021 | 22,866 | |||
Heartland Financial USA Inc. | 469,378 | 22,056 | ||||
* | LendingClub Corp. | 1,211,886 | 21,971 | |||
*,1 | MetroMile Inc. | 2,358,383 | 21,579 | |||
Kearny Financial Corp. | 1,788,821 | 21,376 | ||||
KKR Real Estate Finance Trust Inc. | 979,345 | 21,183 | ||||
ARMOUR Residential REIT Inc. | 1,761,678 | 20,118 | ||||
* | Blucora Inc. | 1,150,688 | 19,918 | |||
BrightSpire Capital Inc. | 2,108,304 | 19,818 | ||||
WisdomTree Investments Inc. | 3,178,900 | 19,709 | ||||
PJT Partners Inc. Class A | 273,786 | 19,543 | ||||
TPG RE Finance Trust Inc. | 1,445,167 | 19,437 | ||||
*,1 | Root Inc. Class A | 1,723,257 | 18,646 | |||
* | Columbia Financial Inc. | 1,069,969 | 18,425 | |||
* | eHealth Inc. | 308,639 | 18,025 | |||
* | Ambac Financial Group Inc. | 1,148,309 | 17,983 | |||
* | World Acceptance Corp. | 110,213 | 17,661 | |||
Central Pacific Financial Corp. | 672,020 | 17,513 | ||||
Northfield Bancorp Inc. | 1,065,640 | 17,476 | ||||
National Western Life Group Inc. Class A | 77,402 | 17,368 | ||||
*,1 | Romeo Power Inc. | 2,117,825 | 17,239 | |||
* | GoHealth Inc. Class A | 1,487,101 | 16,670 | |||
United Fire Group Inc. | 597,391 | 16,566 | ||||
Capstead Mortgage Corp. | 2,233,469 | 13,713 | ||||
* | AssetMark Financial Holdings Inc. | 454,832 | 11,398 | |||
Granite Point Mortgage Trust Inc. | 695,318 | 10,256 | ||||
GCM Grosvenor Inc. Class A | 845,600 | 8,811 | ||||
State Auto Financial Corp. | 445,503 | 7,627 | ||||
Associated Capital Group Inc. Class A | 47,292 | 1,838 | ||||
1 | loanDepot Inc. Class A | 75,012 | 964 | |||
*,2 | Frontier Financial Corp. | 1 | — | |||
18,736,707 | ||||||
Health Care (14.15%) | ||||||
* | Charles River Laboratories International Inc. | 1,251,206 | 462,846 | |||
* | Avantor Inc. | 12,317,881 | 437,408 | |||
Bio-Techne Corp. | 968,271 | 435,974 | ||||
PerkinElmer Inc. | 2,790,564 | 430,891 | ||||
*,1 | Novavax Inc. | 1,844,526 | 391,611 | |||
* | Molina Healthcare Inc. | 1,453,789 | 367,896 | |||
* | Masimo Corp. | 1,232,476 | 298,814 | |||
* | Guardant Health Inc. | 2,391,570 | 297,009 | |||
* | Intellia Therapeutics Inc. | 1,619,681 | 262,243 | |||
* | Repligen Corp. | 1,298,668 | 259,240 | |||
* | Jazz Pharmaceuticals plc | 1,435,251 | 254,958 | |||
* | Novocure Ltd. | 1,094,158 | 242,706 | |||
* | Penumbra Inc. | 862,902 | 236,487 | |||
* | Syneos Health Inc. | 2,584,725 | 231,307 | |||
* | Catalent Inc. | 2,119,675 | 229,179 |
Shares | Market Value ($000) | |||||
* | Neurocrine Biosciences Inc. | 2,352,928 | 228,987 | |||
* | Natera Inc. | 1,969,617 | 223,611 | |||
* | Bridgebio Pharma Inc. | 3,345,095 | 203,917 | |||
* | Arrowhead Pharmaceuticals Inc. | 2,460,894 | 203,811 | |||
* | Amedisys Inc. | 810,848 | 198,601 | |||
Encompass Health Corp. | 2,478,489 | 193,397 | ||||
* | Organon & Co. | 6,303,875 | 190,755 | |||
Chemed Corp. | 397,028 | 188,390 | ||||
Hill-Rom Holdings Inc. | 1,654,475 | 187,932 | ||||
Bruker Corp. | 2,451,657 | 186,277 | ||||
* | Mirati Therapeutics Inc. | 1,152,836 | 186,218 | |||
* | United Therapeutics Corp. | 994,587 | 178,439 | |||
* | Tenet Healthcare Corp. | 2,658,694 | 178,106 | |||
* | STAAR Surgical Co. | 1,167,466 | 178,039 | |||
* | Envista Holdings Corp. | 4,002,887 | 172,965 | |||
* | Fate Therapeutics Inc. | 1,989,753 | 172,691 | |||
* | Acceleron Pharma Inc. | 1,360,094 | 170,678 | |||
* | Bio-Rad Laboratories Inc. Class A | 261,310 | 168,359 | |||
* | HealthEquity Inc. | 2,075,698 | 167,052 | |||
* | Pacific Biosciences of California Inc. | 4,691,592 | 164,065 | |||
* | Omnicell Inc. | 1,075,282 | 162,851 | |||
* | Halozyme Therapeutics Inc. | 3,543,161 | 160,895 | |||
*,1 | Invitae Corp. | 4,725,525 | 159,392 | |||
* | Denali Therapeutics Inc. | 1,961,349 | 153,848 | |||
Perrigo Co. plc | 3,323,321 | 152,374 | ||||
* | LHC Group Inc. | 748,360 | 149,867 | |||
* | Globus Medical Inc. Class A | 1,931,926 | 149,782 | |||
* | Shockwave Medical Inc. | 783,345 | 148,624 | |||
* | Sarepta Therapeutics Inc. | 1,887,060 | 146,700 | |||
* | Twist Bioscience Corp. | 1,095,609 | 145,990 | |||
* | Tandem Diabetes Care Inc. | 1,481,259 | 144,275 | |||
* | Ultragenyx Pharmaceutical Inc. | 1,511,346 | 144,107 | |||
* | Exelixis Inc. | 7,802,021 | 142,153 | |||
* | Acadia Healthcare Co. Inc. | 2,232,899 | 140,114 | |||
* | Nevro Corp. | 822,363 | 136,340 | |||
* | Ionis Pharmaceuticals Inc. | 3,331,452 | 132,892 | |||
* | Blueprint Medicines Corp. | 1,452,082 | 127,725 | |||
* | Medpace Holdings Inc. | 715,899 | 126,449 | |||
* | NeoGenomics Inc. | 2,788,630 | 125,962 | |||
* | Inspire Medical Systems Inc. | 643,499 | 124,363 | |||
* | TG Therapeutics Inc. | 3,168,044 | 122,888 | |||
* | Neogen Corp. | 2,662,099 | 122,563 | |||
* | Integra LifeSciences Holdings Corp. | 1,787,479 | 121,978 | |||
* | Adaptive Biotechnologies Corp. | 2,968,417 | 121,290 | |||
*,1 | Beam Therapeutics Inc. | 934,702 | 120,305 | |||
* | CareDx Inc. | 1,294,759 | 118,496 | |||
* | Quidel Corp. | 900,044 | 115,314 | |||
Select Medical Holdings Corp. | 2,685,672 | 113,497 | ||||
Ensign Group Inc. | 1,299,376 | 112,617 | ||||
* | ICU Medical Inc. | 501,743 | 103,259 | |||
* | Arena Pharmaceuticals Inc. | 1,511,941 | 103,114 | |||
* | Apellis Pharmaceuticals Inc. | 1,602,707 | 101,291 | |||
Premier Inc. Class A | 2,887,871 | 100,469 | ||||
CONMED Corp. | 724,161 | 99,521 | ||||
* | Alkermes plc | 3,995,448 | 97,968 | |||
*,1 | Privia Health Group Inc. | 2,193,496 | 97,325 | |||
* | Editas Medicine Inc. Class A | 1,691,379 | 95,800 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 2,275,248 | 94,946 | |||
* | Reata Pharmaceuticals Inc. Class A | 664,083 | 93,988 | |||
* | Glaukos Corp. | 1,094,368 | 92,835 | |||
* | NuVasive Inc. | 1,285,694 | 87,144 |
Shares | Market Value ($000) | |||||
* | Merit Medical Systems Inc. | 1,324,350 | 85,632 | |||
* | AtriCure Inc. | 1,078,993 | 85,597 | |||
* | Haemonetics Corp. | 1,269,201 | 84,580 | |||
* | Agios Pharmaceuticals Inc. | 1,532,835 | 84,475 | |||
* | Progyny Inc. | 1,431,675 | 84,469 | |||
* | Iovance Biotherapeutics Inc. | 3,235,028 | 84,175 | |||
* | Insmed Inc. | 2,858,635 | 81,357 | |||
* | Allakos Inc. | 932,847 | 79,637 | |||
* | 1Life Healthcare Inc. | 2,394,600 | 79,165 | |||
*,1 | Multiplan Corp. | 8,304,476 | 79,059 | |||
* | Nektar Therapeutics | 4,533,990 | 77,803 | |||
* | Integer Holdings Corp. | 819,682 | 77,214 | |||
* | Vir Biotechnology Inc. | 1,618,040 | 76,501 | |||
* | Emergent BioSolutions Inc. | 1,200,897 | 75,645 | |||
Owens & Minor Inc. | 1,776,948 | 75,218 | ||||
* | Arvinas Inc. | 975,629 | 75,123 | |||
* | Sage Therapeutics Inc. | 1,310,472 | 74,448 | |||
* | Intra-Cellular Therapies Inc. | 1,819,489 | 74,272 | |||
* | PTC Therapeutics Inc. | 1,753,593 | 74,124 | |||
* | ACADIA Pharmaceuticals Inc. | 2,988,700 | 72,894 | |||
* | R1 RCM Inc. | 3,256,403 | 72,422 | |||
* | Turning Point Therapeutics Inc. | 916,911 | 71,537 | |||
* | Kodiak Sciences Inc. | 765,705 | 71,211 | |||
* | Inari Medical Inc. | 741,681 | 69,184 | |||
* | Veracyte Inc. | 1,674,655 | 66,953 | |||
* | Pacira BioSciences Inc. | 1,095,542 | 66,477 | |||
Patterson Cos. Inc. | 2,165,146 | 65,799 | ||||
* | Prestige Consumer Healthcare Inc. | 1,240,223 | 64,616 | |||
* | Amicus Therapeutics Inc. | 6,611,581 | 63,736 | |||
* | Accolade Inc. | 1,166,681 | 63,362 | |||
* | Inovalon Holdings Inc. Class A | 1,840,058 | 62,709 | |||
* | Karuna Therapeutics Inc. | 549,051 | 62,586 | |||
* | MEDNAX Inc. | 2,039,579 | 61,493 | |||
* | SpringWorks Therapeutics Inc. | 731,634 | 60,294 | |||
* | Sotera Health Co. | 2,464,025 | 59,703 | |||
Healthcare Services Group Inc. | 1,863,998 | 58,846 | ||||
* | Option Care Health Inc. | 2,685,793 | 58,738 | |||
* | Corcept Therapeutics Inc. | 2,610,408 | 57,429 | |||
* | Myriad Genetics Inc. | 1,821,684 | 55,707 | |||
* | Magellan Health Inc. | 585,096 | 55,116 | |||
* | FibroGen Inc. | 2,062,662 | 54,929 | |||
* | Surgery Partners Inc. | 822,226 | 54,777 | |||
* | Global Blood Therapeutics Inc. | 1,550,706 | 54,306 | |||
* | Outset Medical Inc. | 1,086,364 | 54,296 | |||
* | Bluebird Bio Inc. | 1,680,567 | 53,745 | |||
*,1 | American Well Corp. Class A | 4,158,555 | 52,315 | |||
* | Health Catalyst Inc. | 939,712 | 52,163 | |||
* | Berkeley Lights Inc. | 1,163,378 | 52,131 | |||
* | Ligand Pharmaceuticals Inc. | 394,176 | 51,712 | |||
*,1 | Butterfly Network Inc. | 3,489,723 | 50,531 | |||
* | Xencor Inc. | 1,452,502 | 50,097 | |||
* | AdaptHealth Corp. Class A | 1,770,825 | 48,538 | |||
* | Axsome Therapeutics Inc. | 702,749 | 47,407 | |||
*,1 | REVOLUTION Medicines Inc. | 1,464,073 | 46,470 | |||
* | Relay Therapeutics Inc. | 1,265,546 | 46,306 | |||
* | iRhythm Technologies Inc. | 692,921 | 45,975 | |||
* | Allogene Therapeutics Inc. | 1,757,927 | 45,847 | |||
* | Zentalis Pharmaceuticals Inc. | 828,683 | 44,086 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 3,423,997 | 44,067 | |||
* | Ortho Clinical Diagnostics Holdings plc | 2,047,053 | 43,827 | |||
* | Avanos Medical Inc. | 1,198,350 | 43,584 |
Shares | Market Value ($000) | |||||
Luminex Corp. | 1,118,504 | 41,161 | ||||
* | Evolent Health Inc. Class A | 1,948,510 | 41,153 | |||
* | Heron Therapeutics Inc. | 2,528,527 | 39,243 | |||
* | Supernus Pharmaceuticals Inc. | 1,257,817 | 38,728 | |||
*,1 | OPKO Health Inc. | 9,183,983 | 37,195 | |||
* | Deciphera Pharmaceuticals Inc. | 1,011,120 | 37,017 | |||
* | Silk Road Medical Inc. | 772,583 | 36,976 | |||
*,1 | Clover Health Investments Corp. | 2,765,888 | 36,842 | |||
* | NanoString Technologies Inc. | 563,094 | 36,483 | |||
* | Inogen Inc. | 559,214 | 36,444 | |||
* | Brookdale Senior Living Inc. | 4,596,749 | 36,314 | |||
* | REGENXBIO Inc. | 903,480 | 35,100 | |||
* | Doximity Inc. Class A | 579,843 | 33,747 | |||
* | CorVel Corp. | 244,455 | 32,830 | |||
*,1 | Nuvation Bio Inc. | 3,512,735 | 32,704 | |||
*,1 | Atea Pharmaceuticals Inc. | 1,443,916 | 31,015 | |||
* | Kymera Therapeutics Inc. | 614,762 | 29,816 | |||
*,1 | Hims & Hers Health Inc. | 2,733,418 | 29,767 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 789,111 | 28,803 | |||
* | Madrigal Pharmaceuticals Inc. | 289,011 | 28,153 | |||
* | Tivity Health Inc. | 1,045,205 | 27,499 | |||
* | Certara Inc. | 953,497 | 27,013 | |||
* | Alector Inc. | 1,287,064 | 26,810 | |||
* | Varex Imaging Corp. | 983,013 | 26,364 | |||
* | Pennant Group Inc. | 635,139 | 25,977 | |||
* | LifeStance Health Group Inc. | 931,280 | 25,945 | |||
* | Endo International plc | 5,506,019 | 25,768 | |||
* | ALX Oncology Holdings Inc. | 449,858 | 24,598 | |||
* | Generation Bio Co. | 914,218 | 24,592 | |||
* | Rocket Pharmaceuticals Inc. | 551,329 | 24,418 | |||
*,1 | Cerevel Therapeutics Holdings Inc. | 951,076 | 24,367 | |||
*,1 | SmileDirectClub Inc. Class A | 2,789,330 | 24,211 | |||
* | Meridian Bioscience Inc. | 1,082,244 | 24,004 | |||
* | Pulmonx Corp. | 539,703 | 23,812 | |||
* | PMV Pharmaceuticals Inc. | 670,969 | 22,920 | |||
*,1 | Olema Pharmaceuticals Inc. | 799,979 | 22,383 | |||
* | NextGen Healthcare Inc. | 1,344,065 | 22,298 | |||
* | Kronos Bio Inc. | 905,160 | 21,679 | |||
National HealthCare Corp. | 308,734 | 21,581 | ||||
* | Radius Health Inc. | 1,179,338 | 21,511 | |||
* | Innoviva Inc. | 1,551,624 | 20,807 | |||
* | Theravance Biopharma Inc. | 1,432,515 | 20,800 | |||
*,1 | ImmunityBio Inc. | 1,430,403 | 20,426 | |||
* | Eargo Inc. | 480,182 | 19,164 | |||
* | Signify Health Inc. Class A | 628,806 | 19,135 | |||
* | Vaxcyte Inc. | 834,962 | 18,795 | |||
* | Aerie Pharmaceuticals Inc. | 1,166,147 | 18,670 | |||
* | Orthofix Medical Inc. | 463,842 | 18,605 | |||
* | Agiliti Inc. | 809,567 | 17,705 | |||
* | HealthStream Inc. | 631,431 | 17,642 | |||
* | ChemoCentryx Inc. | 1,310,276 | 17,545 | |||
* | Sangamo Therapeutics Inc. | 1,437,230 | 17,204 | |||
* | Epizyme Inc. | 2,035,568 | 16,916 | |||
* | Alignment Healthcare Inc. | 700,306 | 16,366 | |||
* | Forma Therapeutics Holdings Inc. | 646,016 | 16,079 | |||
* | Stoke Therapeutics Inc. | 458,342 | 15,428 | |||
* | Atara Biotherapeutics Inc. | 987,485 | 15,355 | |||
* | Amneal Pharmaceuticals Inc. | 2,985,414 | 15,285 | |||
*,1 | Precigen Inc. | 2,313,186 | 15,082 | |||
Phibro Animal Health Corp. Class A | 508,754 | 14,693 | ||||
* | Phathom Pharmaceuticals Inc. | 429,991 | 14,555 |
Shares | Market Value ($000) | |||||
* | Aveanna Healthcare Holdings Inc. | 1,144,402 | 14,156 | |||
* | Praxis Precision Medicines Inc. | 764,938 | 13,983 | |||
*,1 | Sana Biotechnology Inc. | 700,662 | 13,775 | |||
* | Rubius Therapeutics Inc. | 555,776 | 13,566 | |||
* | Intercept Pharmaceuticals Inc. | 660,601 | 13,192 | |||
* | Allovir Inc. | 646,314 | 12,758 | |||
* | Gossamer Bio Inc. | 1,522,288 | 12,361 | |||
* | AnaptysBio Inc. | 474,871 | 12,313 | |||
* | Zogenix Inc. | 698,129 | 12,064 | |||
* | BioAtla Inc. | 282,136 | 11,957 | |||
* | Natus Medical Inc. | 424,218 | 11,021 | |||
* | Innovage Holding Corp. | 505,356 | 10,769 | |||
* | Immunovant Inc. | 983,571 | 10,396 | |||
* | Harmony Biosciences Holdings Inc. | 351,888 | 9,934 | |||
*,1 | Lyell Immunopharma Inc. | 604,129 | 9,811 | |||
* | Kiniksa Pharmaceuticals Ltd. Class A | 689,256 | 9,601 | |||
* | G1 Therapeutics Inc. | 422,440 | 9,268 | |||
* | Instil Bio Inc. | 478,655 | 9,248 | |||
* | Nkarta Inc. | 288,422 | 9,140 | |||
*,1 | Prelude Therapeutics Inc. | 308,310 | 8,827 | |||
*,1 | Cullinan Oncology Inc. | 325,677 | 8,386 | |||
* | Treace Medical Concepts Inc. | 261,522 | 8,175 | |||
*,1 | Silverback Therapeutics Inc. | 259,815 | 8,026 | |||
* | Spectrum Pharmaceuticals Inc. | 2,026,885 | 7,601 | |||
*,1 | Kinnate Biopharma Inc. | 324,257 | 7,549 | |||
*,1 | Esperion Therapeutics Inc. | 351,023 | 7,424 | |||
* | Singular Genomics Systems Inc. | 262,100 | 7,203 | |||
*,1 | Clovis Oncology Inc. | 1,238,259 | 7,182 | |||
*,1 | Seer Inc. Class A | 210,299 | 6,894 | |||
* | Design Therapeutics Inc. | 344,942 | 6,861 | |||
* | ZIOPHARM Oncology Inc. | 2,571,960 | 6,790 | |||
* | NGM Biopharmaceuticals Inc. | 287,500 | 5,670 | |||
* | Day One Biopharmaceuticals Inc. | 207,079 | 4,715 | |||
*,1 | Vor BioPharma Inc. | 231,622 | 4,320 | |||
* | Black Diamond Therapeutics Inc. | 289,586 | 3,530 | |||
* | Bright Health Group Inc. | 164,948 | 2,831 | |||
*,2 | Alder Biopharmaceuticals Inc. CVR Exp. 12/31/2024 | 1,792,706 | 1,578 | |||
* | Horizon Therapeutics plc | 1,334 | 125 | |||
* | 10X Genomics Inc. Class A | 430 | 84 | |||
*,1,2 | Synergy Pharmaceuticals LLC | 2,001,166 | — | |||
19,465,167 | ||||||
Industrials (18.37%) | ||||||
IDEX Corp. | 1,890,302 | 415,961 | ||||
* | Bill.com Holdings Inc. | 1,967,876 | 360,476 | |||
* | Fair Isaac Corp. | 680,579 | 342,113 | |||
* | Howmet Aerospace Inc. | 9,731,016 | 335,428 | |||
Graco Inc. | 4,217,330 | 319,252 | ||||
Quanta Services Inc. | 3,468,793 | 314,169 | ||||
Allegion plc | 2,239,598 | 311,976 | ||||
1 | Lennox International Inc. | 846,207 | 296,849 | |||
Toro Co. | 2,678,969 | 294,365 | ||||
* | Trex Co. Inc. | 2,871,745 | 293,521 | |||
Booz Allen Hamilton Holding Corp. Class A | 3,370,743 | 287,120 | ||||
RPM International Inc. | 3,224,202 | 285,922 | ||||
Nordson Corp. | 1,301,333 | 285,656 | ||||
* | Axon Enterprise Inc. | 1,610,008 | 284,649 | |||
Pentair plc | 4,136,647 | 279,182 | ||||
Owens Corning | 2,600,002 | 254,540 | ||||
Carlisle Cos. Inc. | 1,299,031 | 248,609 | ||||
MKS Instruments Inc. | 1,378,076 | 245,229 | ||||
A O Smith Corp. | 3,347,513 | 241,222 |
Shares | Market Value ($000) | |||||
* | Middleby Corp. | 1,385,070 | 239,977 | |||
Robert Half International Inc. | 2,667,197 | 237,301 | ||||
Watsco Inc. | 819,176 | 234,809 | ||||
* | AECOM | 3,642,694 | 230,655 | |||
AptarGroup Inc. | 1,635,888 | 230,398 | ||||
* | Sensata Technologies Holding plc | 3,936,278 | 228,186 | |||
Sealed Air Corp. | 3,782,901 | 224,137 | ||||
* | Builders FirstSource Inc. | 5,154,533 | 219,892 | |||
* | Berry Global Group Inc. | 3,358,842 | 219,064 | |||
* | WEX Inc. | 1,113,945 | 215,994 | |||
Oshkosh Corp. | 1,707,548 | 212,829 | ||||
Genpact Ltd. | 4,663,626 | 211,869 | ||||
Huntington Ingalls Industries Inc. | 1,001,599 | 211,087 | ||||
Donaldson Co. Inc. | 3,140,044 | 199,487 | ||||
ITT Inc. | 2,143,819 | 196,352 | ||||
AGCO Corp. | 1,501,218 | 195,729 | ||||
Lincoln Electric Holdings Inc. | 1,481,250 | 195,095 | ||||
Brunswick Corp. | 1,939,651 | 193,228 | ||||
Woodward Inc. | 1,501,626 | 184,520 | ||||
* | Paylocity Holding Corp. | 949,115 | 181,091 | |||
*,1 | Virgin Galactic Holdings Inc. | 3,896,047 | 179,218 | |||
Cognex Corp. | 2,089,135 | 175,592 | ||||
* | XPO Logistics Inc. | 1,208,356 | 169,037 | |||
* | Euronet Worldwide Inc. | 1,248,529 | 168,988 | |||
Knight-Swift Transportation Holdings Inc. Class A | 3,706,844 | 168,513 | ||||
* | Axalta Coating Systems Ltd. | 5,511,464 | 168,045 | |||
Sonoco Products Co. | 2,504,720 | 167,566 | ||||
EMCOR Group Inc. | 1,358,140 | 167,309 | ||||
Acuity Brands Inc. | 888,385 | 166,155 | ||||
Tetra Tech Inc. | 1,347,125 | 164,403 | ||||
* | TopBuild Corp. | 822,688 | 162,711 | |||
* | Coherent Inc. | 610,649 | 161,419 | |||
ManpowerGroup Inc. | 1,356,937 | 161,353 | ||||
* | WillScot Mobile Mini Holdings Corp. | 5,646,965 | 157,381 | |||
MDU Resources Group Inc. | 5,008,439 | 156,965 | ||||
Advanced Drainage Systems Inc. | 1,336,519 | 155,798 | ||||
Littelfuse Inc. | 611,162 | 155,718 | ||||
Louisiana-Pacific Corp. | 2,545,885 | 153,491 | ||||
Jack Henry & Associates Inc. | 924,328 | 151,137 | ||||
Landstar System Inc. | 956,251 | 151,107 | ||||
Eagle Materials Inc. | 1,055,345 | 149,975 | ||||
* | MasTec Inc. | 1,387,787 | 147,244 | |||
MSA Safety Inc. | 876,603 | 145,148 | ||||
Rexnord Corp. | 2,829,329 | 141,580 | ||||
BWX Technologies Inc. | 2,366,852 | 137,561 | ||||
* | Saia Inc. | 655,523 | 137,326 | |||
Vontier Corp. | 4,199,602 | 136,823 | ||||
Regal Beloit Corp. | 1,011,354 | 135,026 | ||||
Maximus Inc. | 1,529,571 | 134,556 | ||||
KBR Inc. | 3,519,684 | 134,276 | ||||
* | Mohawk Industries Inc. | 693,765 | 133,335 | |||
* | Chart Industries Inc. | 904,680 | 132,373 | |||
* | Colfax Corp. | 2,868,020 | 131,384 | |||
Flowserve Corp. | 3,242,649 | 130,744 | ||||
nVent Electric plc | 4,173,164 | 130,370 | ||||
* | WESCO International Inc. | 1,248,645 | 128,386 | |||
Graphic Packaging Holding Co. | 7,073,422 | 128,312 | ||||
Armstrong World Industries Inc. | 1,191,487 | 127,799 | ||||
Hubbell Inc. Class B | 676,131 | 126,328 | ||||
Valmont Industries Inc. | 528,922 | 124,852 | ||||
Spirit AeroSystems Holdings Inc. Class A | 2,624,888 | 123,868 |
Shares | Market Value ($000) | |||||
Alliance Data Systems Corp. | 1,176,315 | 122,560 | ||||
* | ASGN Inc. | 1,257,046 | 121,845 | |||
Curtiss-Wright Corp. | 1,017,948 | 120,892 | ||||
Simpson Manufacturing Co. Inc. | 1,080,084 | 119,285 | ||||
* | FTI Consulting Inc. | 851,336 | 116,301 | |||
Exponent Inc. | 1,297,847 | 115,781 | ||||
* | AZEK Co. Inc. Class A | 2,697,318 | 114,528 | |||
Crane Co. | 1,235,823 | 114,153 | ||||
* | AMN Healthcare Services Inc. | 1,175,470 | 113,997 | |||
John Bean Technologies Corp. | 790,198 | 112,698 | ||||
Air Lease Corp. Class A | 2,696,801 | 112,565 | ||||
* | Itron Inc. | 1,123,254 | 112,303 | |||
Allison Transmission Holdings Inc. | 2,726,176 | 108,338 | ||||
* | Resideo Technologies Inc. | 3,577,841 | 107,335 | |||
Altra Industrial Motion Corp. | 1,611,220 | 104,762 | ||||
EnerSys | 1,065,458 | 104,127 | ||||
* | ACI Worldwide Inc. | 2,794,414 | 103,785 | |||
* | Summit Materials Inc. Class A | 2,905,977 | 101,273 | |||
Watts Water Technologies Inc. Class A | 684,813 | 99,921 | ||||
MSC Industrial Direct Co. Inc. Class A | 1,109,923 | 99,593 | ||||
Korn Ferry | 1,343,538 | 97,474 | ||||
* | Shift4 Payments Inc. Class A | 1,019,737 | 95,570 | |||
Brink's Co. | 1,239,654 | 95,255 | ||||
Ryder System Inc. | 1,272,961 | 94,619 | ||||
* | Mercury Systems Inc. | 1,397,949 | 92,656 | |||
Aerojet Rocketdyne Holdings Inc. | 1,892,717 | 91,399 | ||||
* | Kirby Corp. | 1,495,495 | 90,687 | |||
UniFirst Corp. | 378,628 | 88,841 | ||||
Applied Industrial Technologies Inc. | 965,760 | 87,942 | ||||
* | Kratos Defense & Security Solutions Inc. | 3,085,948 | 87,919 | |||
Triton International Ltd. | 1,673,985 | 87,616 | ||||
*,1 | Bloom Energy Corp. Class A | 3,239,896 | 87,056 | |||
Silgan Holdings Inc. | 2,058,904 | 85,445 | ||||
* | ExlService Holdings Inc. | 790,360 | 83,984 | |||
* | Atkore Inc. | 1,169,864 | 83,060 | |||
Insperity Inc. | 913,326 | 82,537 | ||||
HB Fuller Co. | 1,295,635 | 82,415 | ||||
*,1 | Nikola Corp. | 4,410,602 | 79,655 | |||
Franklin Electric Co. Inc. | 985,917 | 79,485 | ||||
Terex Corp. | 1,652,701 | 78,702 | ||||
EVERTEC Inc. | 1,798,335 | 78,497 | ||||
GATX Corp. | 881,432 | 77,980 | ||||
Kennametal Inc. | 2,080,195 | 74,721 | ||||
Hillenbrand Inc. | 1,683,808 | 74,222 | ||||
* | Beacon Roofing Supply Inc. | 1,392,285 | 74,139 | |||
ABM Industries Inc. | 1,667,028 | 73,933 | ||||
*,1 | Marathon Digital Holdings Inc. | 2,352,764 | 73,806 | |||
* | Welbilt Inc. | 3,182,053 | 73,665 | |||
*,3 | API Group Corp. | 3,506,744 | 73,256 | |||
Installed Building Products Inc. | 592,596 | 72,510 | ||||
* | TriNet Group Inc. | 983,720 | 71,300 | |||
Badger Meter Inc. | 725,097 | 71,147 | ||||
Macquarie Infrastructure Corp. | 1,853,501 | 70,934 | ||||
* | Herc Holdings Inc. | 626,995 | 70,267 | |||
Matson Inc. | 1,080,980 | 69,183 | ||||
SPX FLOW Inc. | 1,048,508 | 68,405 | ||||
* | Masonite International Corp. | 611,083 | 68,313 | |||
Albany International Corp. Class A | 763,492 | 68,149 | ||||
Maxar Technologies Inc. | 1,699,853 | 67,858 | ||||
Comfort Systems USA Inc. | 856,719 | 67,501 | ||||
* | Allegheny Technologies Inc. | 3,160,681 | 65,900 |
Shares | Market Value ($000) | |||||
AAON Inc. | 1,042,812 | 65,270 | ||||
* | SPX Corp. | 1,067,512 | 65,204 | |||
* | O-I Glass Inc. | 3,935,012 | 64,259 | |||
Brady Corp. Class A | 1,144,191 | 64,120 | ||||
Werner Enterprises Inc. | 1,433,461 | 63,818 | ||||
* | Proto Labs Inc. | 689,796 | 63,323 | |||
* | Fluor Corp. | 3,520,594 | 62,315 | |||
Trinity Industries Inc. | 2,313,405 | 62,207 | ||||
Barnes Group Inc. | 1,196,905 | 61,341 | ||||
Moog Inc. Class A | 725,466 | 60,983 | ||||
Forward Air Corp. | 678,052 | 60,855 | ||||
* | Green Dot Corp. Class A | 1,289,806 | 60,427 | |||
ManTech International Corp. Class A | 684,255 | 59,215 | ||||
* | AeroVironment Inc. | 583,177 | 58,405 | |||
ESCO Technologies Inc. | 614,239 | 57,622 | ||||
Mueller Water Products Inc. Class A | 3,966,393 | 57,195 | ||||
Helios Technologies Inc. | 723,913 | 56,501 | ||||
Belden Inc. | 1,113,843 | 56,327 | ||||
* | Navistar International Corp. | 1,238,037 | 55,093 | |||
* | JELD-WEN Holding Inc. | 2,096,512 | 55,054 | |||
* | Vicor Corp. | 515,145 | 54,471 | |||
* | Dycom Industries Inc. | 727,951 | 54,254 | |||
* | Sykes Enterprises Inc. | 991,812 | 53,260 | |||
* | Hub Group Inc. Class A | 801,999 | 52,916 | |||
Raven Industries Inc. | 895,249 | 51,790 | ||||
Otter Tail Corp. | 1,039,179 | 50,722 | ||||
Deluxe Corp. | 1,052,211 | 50,264 | ||||
EnPro Industries Inc. | 515,281 | 50,060 | ||||
* | Verra Mobility Corp. Class A | 3,239,079 | 49,785 | |||
McGrath RentCorp | 604,314 | 49,294 | ||||
* | Atlas Air Worldwide Holdings Inc. | 723,574 | 49,283 | |||
*,1 | TuSimple Holdings Inc. Class A | 691,757 | 49,281 | |||
* | GMS Inc. | 1,015,473 | 48,885 | |||
TTEC Holdings Inc. | 466,464 | 48,088 | ||||
*,1 | PureCycle Technologies Inc. | 1,999,117 | 47,279 | |||
Granite Construction Inc. | 1,137,236 | 47,229 | ||||
Lindsay Corp. | 272,653 | 45,064 | ||||
* | Ferro Corp. | 2,062,933 | 44,497 | |||
* | OSI Systems Inc. | 424,597 | 43,156 | |||
* | Meritor Inc. | 1,813,365 | 42,469 | |||
* | Cimpress plc | 389,554 | 42,232 | |||
ADT Inc. | 3,813,491 | 41,148 | ||||
*,1 | Desktop Metal Inc. Class A | 3,506,278 | 40,322 | |||
*,1 | Danimer Scientific Inc. | 1,599,810 | 40,075 | |||
Enerpac Tool Group Corp. Class A | 1,503,879 | 40,033 | ||||
Greif Inc. Class A | 636,296 | 38,528 | ||||
*,1 | BTRS Holdings Inc. | 2,980,559 | 37,615 | |||
Primoris Services Corp. | 1,275,177 | 37,528 | ||||
Encore Wire Corp. | 490,568 | 37,180 | ||||
* | FARO Technologies Inc. | 453,128 | 35,240 | |||
Kaman Corp. | 695,897 | 35,073 | ||||
ArcBest Corp. | 601,664 | 35,011 | ||||
Tennant Co. | 437,982 | 34,973 | ||||
Griffon Corp. | 1,347,540 | 34,537 | ||||
* | Air Transport Services Group Inc. | 1,479,086 | 34,359 | |||
Astec Industries Inc. | 535,354 | 33,695 | ||||
* | TriMas Corp. | 1,080,148 | 32,761 | |||
* | AAR Corp. | 839,545 | 32,532 | |||
* | ZipRecruiter Inc. Class A | 1,296,570 | 32,388 | |||
* | Evo Payments Inc. Class A | 1,165,925 | 32,343 | |||
AZZ Inc. | 619,972 | 32,102 |
Shares | Market Value ($000) | |||||
* | Gibraltar Industries Inc. | 407,568 | 31,102 | |||
Kforce Inc. | 492,952 | 31,021 | ||||
Greenbrier Cos. Inc. | 692,388 | 30,174 | ||||
* | Hayward Holdings Inc. | 1,151,492 | 29,962 | |||
*,1 | Hyliion Holdings Corp. | 2,568,012 | 29,917 | |||
* | Conduent Inc. | 3,970,219 | 29,777 | |||
Standex International Corp. | 303,081 | 28,765 | ||||
Schneider National Inc. Class B | 1,282,434 | 27,919 | ||||
* | Huron Consulting Group Inc. | 560,417 | 27,545 | |||
H&E Equipment Services Inc. | 768,402 | 25,565 | ||||
*,1 | Velodyne Lidar Inc. | 2,354,522 | 25,052 | |||
* | TrueBlue Inc. | 886,279 | 24,913 | |||
Apogee Enterprises Inc. | 604,634 | 24,627 | ||||
* | Advantage Solutions Inc. | 1,987,256 | 21,443 | |||
Quanex Building Products Corp. | 835,130 | 20,745 | ||||
Heartland Express Inc. | 1,209,327 | 20,716 | ||||
* | Kelly Services Inc. Class A | 859,133 | 20,593 | |||
*,1 | View Inc. | 2,419,181 | 20,515 | |||
Wabash National Corp. | 1,229,830 | 19,677 | ||||
* | Gates Industrial Corp. plc | 1,087,928 | 19,659 | |||
Hyster-Yale Materials Handling Inc. | 259,876 | 18,966 | ||||
Gorman-Rupp Co. | 524,007 | 18,047 | ||||
* | American Woodmark Corp. | 214,168 | 17,495 | |||
* | BrightView Holdings Inc. | 1,058,354 | 17,061 | |||
* | CIRCOR International Inc. | 503,135 | 16,402 | |||
* | Triumph Group Inc. | 755,154 | 15,669 | |||
* | Thermon Group Holdings Inc. | 833,014 | 14,195 | |||
* | Tutor Perini Corp. | 1,020,755 | 14,137 | |||
* | Vivint Smart Home Inc. | 1,039,675 | 13,724 | |||
National Presto Industries Inc. | 131,975 | 13,415 | ||||
Pactiv Evergreen Inc. | 886,512 | 13,360 | ||||
* | Forrester Research Inc. | 283,541 | 12,986 | |||
REV Group Inc. | 804,516 | 12,623 | ||||
* | First Advantage Corp. | 567,160 | 11,292 | |||
*,1 | TaskUS Inc. Class A | 308,524 | 10,564 | |||
* | GreenSky Inc. Class A | 1,749,297 | 9,709 | |||
*,1 | Latch Inc. | 781,211 | 9,585 | |||
Greif Inc. Class B | 152,499 | 8,997 | ||||
* | Paymentus Holdings Inc. Class A | 250,774 | 8,903 | |||
* | Flywire Corp. | 239,603 | 8,803 | |||
Kronos Worldwide Inc. | 577,517 | 8,270 | ||||
International Seaways Inc. | 302,156 | 5,795 | ||||
* | Legalzoom.com Inc. | 27,585 | 1,044 | |||
* | Generac Holdings Inc. | 372 | 154 | |||
25,263,295 | ||||||
Other (0.00%)4 | ||||||
*,2 | First Eagle Private Credit LLC CVR | 651,238 | 59 | |||
Real Estate (8.73%) | ||||||
VICI Properties Inc. | 13,370,659 | 414,758 | ||||
Equity LifeStyle Properties Inc. | 4,085,356 | 303,583 | ||||
Medical Properties Trust Inc. | 14,645,826 | 294,381 | ||||
American Homes 4 Rent Class A | 6,869,709 | 266,888 | ||||
Gaming & Leisure Properties Inc. | 5,505,890 | 255,088 | ||||
* | Jones Lang LaSalle Inc. | 1,277,253 | 249,652 | |||
Americold Realty Trust | 6,287,861 | 237,996 | ||||
CubeSmart | 5,016,635 | 232,371 | ||||
Federal Realty Investment Trust | 1,936,450 | 226,894 | ||||
Lamar Advertising Co. Class A | 2,158,383 | 225,378 | ||||
CyrusOne Inc. | 3,051,285 | 218,228 | ||||
Kimco Realty Corp. | 10,255,428 | 213,826 |
Shares | Market Value ($000) | |||||
Omega Healthcare Investors Inc. | 5,857,987 | 212,586 | ||||
Vornado Realty Trust | 4,527,932 | 211,319 | ||||
STORE Capital Corp. | 6,058,545 | 209,080 | ||||
Life Storage Inc. | 1,913,470 | 205,411 | ||||
National Retail Properties Inc. | 4,369,445 | 204,840 | ||||
Rexford Industrial Realty Inc. | 3,562,438 | 202,881 | ||||
Kilroy Realty Corp. | 2,898,098 | 201,824 | ||||
Apartment Income REIT Corp. | 3,904,161 | 185,174 | ||||
Brixmor Property Group Inc. | 7,389,794 | 169,152 | ||||
First Industrial Realty Trust Inc. | 3,215,383 | 167,939 | ||||
EastGroup Properties Inc. | 995,854 | 163,768 | ||||
American Campus Communities Inc. | 3,431,271 | 160,309 | ||||
* | Redfin Corp. | 2,460,726 | 156,035 | |||
* | Host Hotels & Resorts Inc. | 8,794,729 | 150,302 | |||
STAG Industrial Inc. | 3,973,127 | 148,714 | ||||
Healthcare Trust of America Inc. Class A | 5,449,881 | 145,512 | ||||
CoreSite Realty Corp. | 1,069,655 | 143,976 | ||||
Douglas Emmett Inc. | 4,147,297 | 139,432 | ||||
SL Green Realty Corp. | 1,725,493 | 138,039 | ||||
Spirit Realty Capital Inc. | 2,859,952 | 136,820 | ||||
Cousins Properties Inc. | 3,701,072 | 136,125 | ||||
Regency Centers Corp. | 2,115,445 | 135,537 | ||||
QTS Realty Trust Inc. Class A | 1,713,076 | 132,421 | ||||
VEREIT Inc. | 2,852,737 | 131,026 | ||||
Rayonier Inc. | 3,461,009 | 124,354 | ||||
Agree Realty Corp. | 1,695,685 | 119,529 | ||||
Highwoods Properties Inc. | 2,588,693 | 116,931 | ||||
* | Park Hotels & Resorts Inc. | 5,589,959 | 115,209 | |||
Innovative Industrial Properties Inc. | 595,217 | 113,698 | ||||
Terreno Realty Corp. | 1,730,069 | 111,624 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,958,319 | 109,960 | ||||
Healthcare Realty Trust Inc. | 3,523,716 | 106,416 | ||||
Hudson Pacific Properties Inc. | 3,754,672 | 104,455 | ||||
* | Howard Hughes Corp. | 1,028,366 | 100,225 | |||
Physicians Realty Trust | 5,359,774 | 98,995 | ||||
* | EPR Properties | 1,860,139 | 97,992 | |||
JBG SMITH Properties | 3,105,731 | 97,862 | ||||
Sabra Health Care REIT Inc. | 5,370,876 | 97,750 | ||||
* | Ryman Hospitality Properties Inc. | 1,232,041 | 97,282 | |||
Weingarten Realty Investors | 3,018,000 | 96,787 | ||||
* | DigitalBridge Group Inc. | 12,108,499 | 95,657 | |||
1 | Broadstone Net Lease Inc. Class A | 3,876,165 | 90,741 | |||
Macerich Co. | 4,882,643 | 89,108 | ||||
1 | Lexington Realty Trust | 7,298,593 | 87,218 | |||
* | Outfront Media Inc. | 3,626,457 | 87,144 | |||
PotlatchDeltic Corp. | 1,585,210 | 84,254 | ||||
Apple Hospitality REIT Inc. | 5,288,099 | 80,696 | ||||
Corporate Office Properties Trust | 2,790,194 | 78,098 | ||||
National Storage Affiliates Trust | 1,525,286 | 77,118 | ||||
Pebblebrook Hotel Trust | 3,266,191 | 76,919 | ||||
PS Business Parks Inc. | 513,027 | 75,969 | ||||
Equity Commonwealth | 2,882,324 | 75,517 | ||||
National Health Investors Inc. | 1,083,198 | 72,628 | ||||
SITE Centers Corp. | 4,456,542 | 67,116 | ||||
* | Sunstone Hotel Investors Inc. | 5,394,947 | 67,005 | |||
* | eXp World Holdings Inc. | 1,623,123 | 62,928 | |||
RLJ Lodging Trust | 4,103,485 | 62,496 | ||||
Uniti Group Inc. | 5,817,922 | 61,612 | ||||
Retail Properties of America Inc. Class A | 5,332,797 | 61,061 | ||||
Kennedy-Wilson Holdings Inc. | 2,974,153 | 59,096 | ||||
Brandywine Realty Trust | 4,246,906 | 58,225 |
Shares | Market Value ($000) | |||||
Piedmont Office Realty Trust Inc. Class A | 3,078,338 | 56,857 | ||||
CareTrust REIT Inc. | 2,412,507 | 56,043 | ||||
* | Cushman & Wakefield plc | 3,055,468 | 53,379 | |||
* | Xenia Hotels & Resorts Inc. | 2,830,271 | 53,011 | |||
* | Realogy Holdings Corp. | 2,908,450 | 52,992 | |||
Urban Edge Properties | 2,760,859 | 52,732 | ||||
Service Properties Trust | 4,100,777 | 51,670 | ||||
Empire State Realty Trust Inc. Class A | 4,284,658 | 51,416 | ||||
* | DiamondRock Hospitality Co. | 5,246,138 | 50,888 | |||
Retail Opportunity Investments Corp. | 2,825,426 | 49,897 | ||||
Columbia Property Trust Inc. | 2,854,013 | 49,631 | ||||
Washington REIT | 2,097,411 | 48,240 | ||||
Acadia Realty Trust | 2,145,442 | 47,114 | ||||
Paramount Group Inc. | 4,621,587 | 46,539 | ||||
Kite Realty Group Trust | 2,111,737 | 46,479 | ||||
Newmark Group Inc. Class A | 3,847,785 | 46,212 | ||||
1 | Tanger Factory Outlet Centers Inc. | 2,379,422 | 44,852 | |||
Global Net Lease Inc. | 2,358,881 | 43,639 | ||||
Industrial Logistics Properties Trust | 1,641,461 | 42,908 | ||||
Essential Properties Realty Trust Inc. | 1,457,336 | 39,406 | ||||
St. Joe Co. | 878,633 | 39,196 | ||||
American Assets Trust Inc. | 1,049,900 | 39,151 | ||||
LTC Properties Inc. | 987,257 | 37,901 | ||||
Office Properties Income Trust | 1,214,269 | 35,590 | ||||
Mack-Cali Realty Corp. | 2,023,040 | 34,695 | ||||
Alexander & Baldwin Inc. | 1,725,293 | 31,607 | ||||
* | CoreCivic Inc. | 3,000,128 | 31,411 | |||
Safehold Inc. | 398,940 | 31,317 | ||||
Getty Realty Corp. | 935,962 | 29,155 | ||||
RPT Realty | 2,032,377 | 26,380 | ||||
Centerspace | 328,908 | 25,951 | ||||
* | Marcus & Millichap Inc. | 641,436 | 24,933 | |||
Diversified Healthcare Trust | 5,948,155 | 24,863 | ||||
Apartment Investment & Management Co. Class A | 3,538,329 | 23,742 | ||||
American Finance Trust Inc. Class A | 2,741,817 | 23,251 | ||||
1 | GEO Group Inc. | 2,897,891 | 20,633 | |||
Universal Health Realty Income Trust | 311,051 | 19,145 | ||||
Brookfield Property REIT Inc. Class A | 862,559 | 16,294 | ||||
RMR Group Inc. Class A | 384,015 | 14,838 | ||||
Alexander's Inc. | 51,217 | 13,724 | ||||
Saul Centers Inc. | 288,527 | 13,114 | ||||
Franklin Street Properties Corp. | 2,424,849 | 12,755 | ||||
*,1 | Seritage Growth Properties Class A | 688,642 | 12,671 | |||
* | Summit Hotel Properties Inc. | 1,247,038 | 11,635 | |||
* | Forestar Group Inc. | 423,461 | 8,855 | |||
Urstadt Biddle Properties Inc. Class A | 397,894 | 7,711 | ||||
* | Compass Inc. Class A | 26,809 | 352 | |||
*,2 | Spirit MTA REIT | 529,410 | 142 | |||
Urstadt Biddle Properties Inc. | 78 | 1 | ||||
12,001,858 | ||||||
Technology (12.97%) | ||||||
Entegris Inc. | 3,372,994 | 414,777 | ||||
* | Nuance Communications Inc. | 7,123,106 | 387,782 | |||
* | PTC Inc. | 2,618,508 | 369,890 | |||
* | Ceridian HCM Holding Inc. | 3,344,195 | 320,775 | |||
* | Avalara Inc. | 1,942,807 | 314,346 | |||
* | Five9 Inc. | 1,669,222 | 306,119 | |||
* | Dynatrace Inc. | 4,934,533 | 288,275 | |||
* | Cree Inc. | 2,874,760 | 281,525 | |||
* | MongoDB Inc. Class A | 734,129 | 265,402 | |||
* | Proofpoint Inc. | 1,427,676 | 248,073 |
Shares | Market Value ($000) | |||||
* | DXC Technology Co. | 6,337,787 | 246,793 | |||
* | Guidewire Software Inc. | 2,084,956 | 235,016 | |||
Universal Display Corp. | 1,056,294 | 234,846 | ||||
* | Aspen Technology Inc. | 1,693,329 | 232,900 | |||
* | Manhattan Associates Inc. | 1,583,851 | 229,405 | |||
* | Elastic NV | 1,564,565 | 228,051 | |||
* | Zendesk Inc. | 1,477,307 | 213,234 | |||
* | Smartsheet Inc. Class A | 2,944,966 | 212,980 | |||
* | Arrow Electronics Inc. | 1,846,670 | 210,206 | |||
* | ON Semiconductor Corp. | 5,317,350 | 203,548 | |||
Monolithic Power Systems Inc. | 541,226 | 202,121 | ||||
Jabil Inc. | 3,334,739 | 193,815 | ||||
Vertiv Holdings Co. Class A | 7,015,349 | 191,519 | ||||
* | Lattice Semiconductor Corp. | 3,400,218 | 191,024 | |||
* | II-VI Inc. | 2,611,587 | 189,575 | |||
* | Nutanix Inc. Class A | 4,818,753 | 184,173 | |||
Leidos Holdings Inc. | 1,760,474 | 177,984 | ||||
Brooks Automation Inc. | 1,849,742 | 176,243 | ||||
* | Anaplan Inc. | 3,238,851 | 172,631 | |||
* | Silicon Laboratories Inc. | 1,113,968 | 170,716 | |||
* | Concentrix Corp. | 1,036,536 | 166,675 | |||
* | Upwork Inc. | 2,826,360 | 164,749 | |||
Dolby Laboratories Inc. Class A | 1,624,679 | 159,690 | ||||
* | Digital Turbine Inc. | 2,003,828 | 152,351 | |||
CDK Global Inc. | 3,031,645 | 150,642 | ||||
* | CACI International Inc. Class A | 586,173 | 149,544 | |||
* | NCR Corp. | 3,258,388 | 148,615 | |||
* | J2 Global Inc. | 1,067,303 | 146,808 | |||
* | Blackline Inc. | 1,300,185 | 144,672 | |||
* | Varonis Systems Inc. Class B | 2,509,641 | 144,605 | |||
*,1 | Fastly Inc. Class A | 2,371,225 | 141,325 | |||
Pegasystems Inc. | 1,011,418 | 140,779 | ||||
* | Change Healthcare Inc. | 6,102,717 | 140,607 | |||
* | F5 Networks Inc. | 742,266 | 138,551 | |||
* | Q2 Holdings Inc. | 1,331,971 | 136,634 | |||
* | Synaptics Inc. | 876,362 | 136,344 | |||
*,1 | Appian Corp. | 978,939 | 134,849 | |||
* | Pure Storage Inc. Class A | 6,700,966 | 130,870 | |||
* | Teradata Corp. | 2,592,751 | 129,560 | |||
* | Everbridge Inc. | 937,601 | 127,589 | |||
* | Alteryx Inc. Class A | 1,474,212 | 126,812 | |||
Science Applications International Corp. | 1,442,813 | 126,578 | ||||
SYNNEX Corp. | 1,032,554 | 125,724 | ||||
National Instruments Corp. | 2,948,491 | 124,662 | ||||
* | Rapid7 Inc. | 1,303,611 | 123,361 | |||
* | Cirrus Logic Inc. | 1,431,023 | 121,809 | |||
* | 3D Systems Corp. | 2,956,606 | 118,176 | |||
Power Integrations Inc. | 1,433,915 | 117,667 | ||||
* | FireEye Inc. | 5,641,431 | 114,070 | |||
*,1 | Vroom Inc. | 2,715,758 | 113,682 | |||
* | Novanta Inc. | 837,344 | 112,840 | |||
* | Sailpoint Technologies Holdings Inc. | 2,183,663 | 111,520 | |||
* | Semtech Corp. | 1,614,670 | 111,089 | |||
CMC Materials Inc. | 728,317 | 109,786 | ||||
Advanced Energy Industries Inc. | 955,584 | 107,704 | ||||
* | Asana Inc. Class A | 1,711,829 | 106,185 | |||
* | Workiva Inc. Class A | 945,568 | 105,270 | |||
* | Magnite Inc. | 3,045,023 | 103,044 | |||
* | Cerence Inc. | 941,651 | 100,484 | |||
Avnet Inc. | 2,474,313 | 99,170 | ||||
* | Schrodinger Inc. | 1,296,905 | 98,059 |
Shares | Market Value ($000) | |||||
* | Envestnet Inc. | 1,287,030 | 97,634 | |||
* | LivePerson Inc. | 1,543,123 | 97,587 | |||
* | MicroStrategy Inc. Class A | 145,194 | 96,481 | |||
* | New Relic Inc. | 1,429,425 | 95,729 | |||
* | Alarm.com Holdings Inc. | 1,113,395 | 94,305 | |||
* | Rogers Corp. | 465,412 | 93,455 | |||
* | Blackbaud Inc. | 1,215,171 | 93,046 | |||
*,1 | Box Inc. Class A | 3,629,155 | 92,725 | |||
* | Dun & Bradstreet Holdings Inc. | 4,295,736 | 91,800 | |||
* | Ambarella Inc. | 857,154 | 91,398 | |||
Xerox Holdings Corp. | 3,829,916 | 89,965 | ||||
* | SPS Commerce Inc. | 894,371 | 89,303 | |||
* | Insight Enterprises Inc. | 879,960 | 88,005 | |||
* | Fabrinet | 916,509 | 87,866 | |||
* | CommVault Systems Inc. | 1,088,085 | 85,056 | |||
* | Onto Innovation Inc. | 1,159,797 | 84,712 | |||
* | nCino Inc. | 1,408,289 | 84,385 | |||
* | Diodes Inc. | 1,057,243 | 84,336 | |||
* | Qualys Inc. | 828,474 | 83,419 | |||
* | Cloudera Inc. | 5,117,769 | 81,168 | |||
* | Cornerstone OnDemand Inc. | 1,564,674 | 80,706 | |||
* | Vimeo Inc. | 1,619,192 | 79,340 | |||
* | Altair Engineering Inc. Class A | 1,137,838 | 78,477 | |||
* | Duck Creek Technologies Inc. | 1,802,356 | 78,420 | |||
* | MACOM Technology Solutions Holdings Inc. | 1,198,419 | 76,795 | |||
* | Tenable Holdings Inc. | 1,839,286 | 76,054 | |||
Vishay Intertechnology Inc. | 3,296,108 | 74,327 | ||||
* | Sprout Social Inc. Class A | 830,333 | 74,248 | |||
* | LiveRamp Holdings Inc. | 1,580,632 | 74,053 | |||
* | Medallia Inc. | 2,149,985 | 72,562 | |||
* | MaxLinear Inc. Class A | 1,687,544 | 71,704 | |||
*,1 | PagerDuty Inc. | 1,662,128 | 70,773 | |||
* | Yelp Inc. Class A | 1,763,131 | 70,455 | |||
* | FormFactor Inc. | 1,930,853 | 70,399 | |||
* | Covetrus Inc. | 2,550,767 | 68,871 | |||
* | Rambus Inc. | 2,798,936 | 66,363 | |||
* | Verint Systems Inc. | 1,457,070 | 65,670 | |||
* | Plexus Corp. | 711,077 | 65,000 | |||
* | Momentive Global Inc. | 3,083,794 | 64,976 | |||
* | Allscripts Healthcare Solutions Inc. | 3,331,714 | 61,670 | |||
* | BigCommerce Holdings Inc. | 946,297 | 61,434 | |||
* | Sanmina Corp. | 1,543,282 | 60,126 | |||
* | Cargurus Inc. Class A | 2,214,544 | 58,087 | |||
Shutterstock Inc. | 591,423 | 58,060 | ||||
Xperi Holding Corp. | 2,610,042 | 58,047 | ||||
* | Appfolio Inc. Class A | 400,866 | 56,602 | |||
* | Bandwidth Inc. Class A | 401,580 | 55,386 | |||
Switch Inc. Class A | 2,606,805 | 55,030 | ||||
* | Avaya Holdings Corp. | 1,999,894 | 53,797 | |||
*,1 | Skillz Inc. Class A | 2,443,285 | 53,068 | |||
*,1 | JFrog Ltd. | 1,163,352 | 52,956 | |||
Progress Software Corp. | 1,094,474 | 50,619 | ||||
* | NetScout Systems Inc. | 1,750,603 | 49,962 | |||
*,1 | C3.ai Inc. Class A | 728,028 | 45,524 | |||
* | Zuora Inc. Class A | 2,631,127 | 45,387 | |||
* | PROS Holdings Inc. | 993,311 | 45,265 | |||
Methode Electronics Inc. | 907,713 | 44,669 | ||||
* | Jamf Holding Corp. | 1,320,519 | 44,330 | |||
* | Sumo Logic Inc. | 2,115,287 | 43,681 | |||
* | Bottomline Technologies DE Inc. | 1,130,771 | 41,929 | |||
McAfee Corp. Class A | 1,441,781 | 40,399 |
Shares | Market Value ($000) | |||||
* | Unisys Corp. | 1,580,670 | 40,007 | |||
* | Allegro MicroSystems Inc. | 1,417,074 | 39,253 | |||
* | Yext Inc. | 2,675,341 | 38,231 | |||
* | Super Micro Computer Inc. | 1,055,101 | 37,118 | |||
CSG Systems International Inc. | 780,007 | 36,801 | ||||
* | nLight Inc. | 1,013,252 | 36,761 | |||
Pitney Bowes Inc. | 4,155,421 | 36,443 | ||||
* | TTM Technologies Inc. | 2,539,197 | 36,310 | |||
Amkor Technology Inc. | 1,520,091 | 35,981 | ||||
* | Eventbrite Inc. Class A | 1,865,507 | 35,445 | |||
*,1 | E2open Parent Holdings Inc. | 3,017,184 | 34,456 | |||
* | SolarWinds Corp. | 1,970,034 | 33,274 | |||
* | Squarespace Inc. Class A | 530,390 | 31,510 | |||
*,1 | Ouster Inc. | 2,430,647 | 30,359 | |||
* | Veeco Instruments Inc. | 1,190,100 | 28,610 | |||
* | Telos Corp. | 827,998 | 28,160 | |||
* | Ping Identity Holding Corp. | 1,229,279 | 28,150 | |||
*,1 | Aeva Technologies Inc. | 2,617,188 | 27,664 | |||
* | CEVA Inc. | 538,662 | 25,479 | |||
* | Olo Inc. Class A | 680,218 | 25,433 | |||
* | Parsons Corp. | 640,661 | 25,216 | |||
* | Confluent Inc. Class A | 528,439 | 25,101 | |||
* | Groupon Inc. Class A | 579,773 | 25,023 | |||
Benchmark Electronics Inc. | 841,150 | 23,939 | ||||
* | MediaAlpha Inc. Class A | 526,323 | 22,158 | |||
* | DigitalOcean Holdings Inc. | 397,263 | 22,084 | |||
Ebix Inc. | 613,324 | 20,792 | ||||
* | Rackspace Technology Inc. | 1,035,210 | 20,300 | |||
* | ScanSource Inc. | 635,276 | 17,870 | |||
*,1 | Datto Holding Corp. | 608,134 | 16,930 | |||
* | ON24 Inc. | 343,664 | 12,193 | |||
* | Diebold Nixdorf Inc. | 922,640 | 11,847 | |||
* | Sciplay Corp. Class A | 570,591 | 9,672 | |||
*,1 | Sprinklr Inc. Class A | 413,496 | 8,514 | |||
* | Vertex Inc. Class A | 372,412 | 8,171 | |||
* | Viant Technology Inc. Class A | 273,924 | 8,157 | |||
*,1 | KnowBe4 Inc. Class A | 219,146 | 6,853 | |||
*,1 | SEMrush Holdings Inc. Class A | 263,504 | 6,066 | |||
*,1 | PubMatic Inc. Class A | 132,858 | 5,191 | |||
*,1 | Zeta Global Holdings Corp. Class A | 559,762 | 4,702 | |||
* | SecureWorks Corp. Class A | 161,482 | 2,992 | |||
* | SentinelOne Inc. Class A | 27,577 | 1,172 | |||
* | Clear Secure Inc. Class A | 27,577 | 1,103 | |||
* | DoubleVerify Holdings Inc. | 10,872 | 460 | |||
* | Xometry Inc. Class A | 2,775 | 242 | |||
* | Procore Technologies Inc. | 1,088 | 103 | |||
* | Alkami Technology Inc. | 2,731 | 97 | |||
*,2 | Media General Inc. CVR | 2,474,410 | 96 | |||
* | Benefitfocus Inc. | 174 | 2 | |||
17,846,982 | ||||||
Telecommunications (1.40%) | ||||||
Cable One Inc. | 135,249 | 258,706 | ||||
* | Ciena Corp. | 3,859,570 | 219,571 | |||
* | Lumentum Holdings Inc. | 1,890,125 | 155,047 | |||
* | Iridium Communications Inc. | 2,987,752 | 119,480 | |||
Juniper Networks Inc. | 4,081,236 | 111,622 | ||||
* | CommScope Holding Co. Inc. | 5,078,425 | 108,221 | |||
* | Viavi Solutions Inc. | 5,688,314 | 100,456 | |||
*,1 | fuboTV Inc. | 2,971,041 | 95,400 | |||
* | Vonage Holdings Corp. | 5,949,729 | 85,736 | |||
* | Viasat Inc. | 1,711,337 | 85,293 |
Shares | Market Value ($000) | |||||
Cogent Communications Holdings Inc. | 1,066,399 | 81,995 | ||||
* | 8x8 Inc. | 2,598,864 | 72,144 | |||
Shenandoah Telecommunications Co. | 1,179,398 | 57,213 | ||||
Telephone & Data Systems Inc. | 2,522,533 | 57,161 | ||||
InterDigital Inc. | 765,659 | 55,916 | ||||
* | Infinera Corp. | 4,334,488 | 44,212 | |||
* | Plantronics Inc. | 937,837 | 39,136 | |||
*,1 | Globalstar Inc. | 17,806,182 | 31,695 | |||
* | NETGEAR Inc. | 723,736 | 27,734 | |||
* | WideOpenWest Inc. | 1,307,975 | 27,088 | |||
ADTRAN Inc. | 1,208,041 | 24,946 | ||||
* | EchoStar Corp. Class A | 1,014,840 | 24,650 | |||
* | United States Cellular Corp. | 399,248 | 14,497 | |||
Loral Space & Communications Inc. | 321,191 | 12,478 | ||||
ATN International Inc. | 257,826 | 11,728 | ||||
*,1 | Gogo Inc. | 541,901 | 6,167 | |||
Ubiquiti Inc. | 36 | 11 | ||||
1,928,303 | ||||||
Utilities (2.82%) | ||||||
Atmos Energy Corp. | 3,254,453 | 312,785 | ||||
Essential Utilities Inc. | 6,117,284 | 279,560 | ||||
* | Sunrun Inc. | 4,823,147 | 269,035 | |||
UGI Corp. | 5,195,500 | 240,604 | ||||
OGE Energy Corp. | 4,986,689 | 167,802 | ||||
* | Stericycle Inc. | 2,283,697 | 163,398 | |||
NRG Energy Inc. | 3,044,634 | 122,699 | ||||
IDACORP Inc. | 1,257,609 | 122,617 | ||||
Pinnacle West Capital Corp. | 1,403,981 | 115,084 | ||||
* | Clean Harbors Inc. | 1,222,073 | 113,824 | |||
National Fuel Gas Co. | 2,176,491 | 113,722 | ||||
Hawaiian Electric Industries Inc. | 2,580,083 | 109,086 | ||||
PNM Resources Inc. | 2,138,346 | 104,287 | ||||
Portland General Electric Co. | 2,229,682 | 102,744 | ||||
Black Hills Corp. | 1,564,569 | 102,683 | ||||
* | Evoqua Water Technologies Corp. | 2,983,928 | 100,797 | |||
ONE Gas Inc. | 1,324,319 | 98,158 | ||||
New Jersey Resources Corp. | 2,395,918 | 94,806 | ||||
ALLETE Inc. | 1,297,281 | 90,784 | ||||
Southwest Gas Holdings Inc. | 1,356,957 | 89,817 | ||||
Spire Inc. | 1,220,381 | 88,197 | ||||
* | Casella Waste Systems Inc. Class A | 1,256,556 | 79,703 | |||
* | Sunnova Energy International Inc. | 2,090,936 | 78,745 | |||
Ormat Technologies Inc. | 1,114,563 | 77,496 | ||||
NorthWestern Corp. | 1,258,481 | 75,786 | ||||
Avista Corp. | 1,723,700 | 73,550 | ||||
American States Water Co. | 917,464 | 72,993 | ||||
South Jersey Industries Inc. | 2,798,276 | 72,559 | ||||
California Water Service Group | 1,262,891 | 70,141 | ||||
MGE Energy Inc. | 897,816 | 66,833 | ||||
Clearway Energy Inc. Class C | 2,030,777 | 53,775 | ||||
Covanta Holding Corp. | 2,981,198 | 52,499 | ||||
* | Harsco Corp. | 1,974,460 | 40,318 | |||
Northwest Natural Holding Co. | 766,217 | 40,242 | ||||
Clearway Energy Inc. Class A | 876,429 | 22,104 | ||||
3,879,233 | ||||||
Total Common Stocks (Cost $88,662,578) | 136,646,668 |
Coupon | Shares | Market Value ($000) | ||||
Temporary Cash Investments (2.25%) | ||||||
Money Market Fund (2.25%) | ||||||
5,6 | Vanguard Market Liquidity Fund (Cost $3,099,342) | 0.056% | 30,997,404 | 3,099,741 | ||
Total Investments (101.59%) (Cost $91,761,920) | 139,746,409 | |||||
Other Assets and Liabilities—Net (-1.59%) | (2,193,233) | |||||
Net Assets (100%) | 137,553,176 |
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 $2,236,521,000. |
2 | Security value determined using significant unobservable inputs. |
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 June 30, 2021, the aggregate value was $73,256,000, representing 0.1% 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 $2,342,714,000 was received for securities on loan, of which $2,323,711,000 is held in Vanguard Market Liquidity Fund and $19,003,000 is held in cash. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Shares | Market Value ($000) | |||||
Common Stocks (99.61%) | ||||||
Basic Materials (1.74%) | ||||||
Royal Gold Inc. | 1,033,437 | 117,915 | ||||
* | RBC Bearings Inc. | 397,656 | 79,301 | |||
Balchem Corp. | 511,531 | 67,144 | ||||
* | Ingevity Corp. | 631,850 | 51,407 | |||
Quaker Chemical Corp. | 211,607 | 50,191 | ||||
* | Amyris Inc. | 2,979,284 | 48,771 | |||
* | Livent Corp. | 2,509,257 | 48,579 | |||
*,1 | MP Materials Corp. | 1,289,663 | 47,537 | |||
NewMarket Corp. | 137,476 | 44,265 | ||||
* | Hexcel Corp. | 661,144 | 41,255 | |||
GrafTech International Ltd. | 3,152,076 | 36,627 | ||||
* | Century Aluminum Co. | 779,183 | 10,044 | |||
American Vanguard Corp. | 412,101 | 7,216 | ||||
* | Zymergen Inc. | 157,820 | 6,314 | |||
656,566 | ||||||
Consumer Discretionary (15.38%) | ||||||
Pool Corp. | 599,882 | 275,142 | ||||
* | RH | 264,607 | 179,668 | |||
* | Chegg Inc. | 2,124,412 | 176,560 | |||
* | Floor & Decor Holdings Inc. Class A | 1,653,039 | 174,726 | |||
* | Zynga Inc. Class A | 16,290,143 | 173,164 | |||
* | Five Below Inc. | 882,092 | 170,482 | |||
* | Liberty Media Corp.-Liberty Formula One Class C | 3,044,636 | 146,782 | |||
* | Bright Horizons Family Solutions Inc. | 961,494 | 141,445 | |||
Gentex Corp. | 3,804,008 | 125,875 | ||||
Tempur Sealy International Inc. | 3,102,026 | 121,568 | ||||
* | SiteOne Landscape Supply Inc. | 700,168 | 118,510 | |||
* | IAA Inc. | 2,122,616 | 115,768 | |||
* | Crocs Inc. | 976,533 | 113,786 | |||
* | YETI Holdings Inc. | 1,236,845 | 113,567 | |||
* | Scientific Games Corp. | 1,437,959 | 111,356 | |||
Churchill Downs Inc. | 546,125 | 108,275 | ||||
* | Skechers USA Inc. Class A | 2,114,802 | 105,381 | |||
* | Fox Factory Holding Corp. | 661,118 | 102,910 | |||
Texas Roadhouse Inc. Class A | 1,043,903 | 100,424 | ||||
* | Vail Resorts Inc. | 317,133 | 100,379 | |||
* | Planet Fitness Inc. Class A | 1,311,248 | 98,671 | |||
Nexstar Media Group Inc. Class A | 640,152 | 94,666 | ||||
* | Penn National Gaming Inc. | 1,232,037 | 94,239 | |||
* | Deckers Outdoor Corp. | 221,984 | 85,257 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 982,090 | 82,623 | |||
* | Boyd Gaming Corp. | 1,236,903 | 76,057 | |||
Wingstop Inc. | 468,829 | 73,902 | ||||
* | Sonos Inc. | 1,964,800 | 69,220 | |||
Choice Hotels International Inc. | 569,537 | 67,695 | ||||
* | frontdoor Inc. | 1,351,265 | 67,320 | |||
* | Grand Canyon Education Inc. | 730,888 | 65,758 | |||
* | National Vision Holdings Inc. | 1,284,147 | 65,659 | |||
* | Callaway Golf Co. | 1,893,280 | 63,860 | |||
* | Shake Shack Inc. Class A | 585,977 | 62,711 | |||
* | Stitch Fix Inc. Class A | 1,021,278 | 61,583 | |||
* | Overstock.com Inc. | 644,434 | 59,417 | |||
* | LGI Homes Inc. | 354,072 | 57,338 | |||
* | Hilton Grand Vacations Inc. | 1,349,745 | 55,866 | |||
* | Stamps.com Inc. | 274,574 | 54,994 | |||
* | Visteon Corp. | 441,329 | 53,374 | |||
Wyndham Hotels & Resorts Inc. | 734,362 | 53,087 | ||||
Columbia Sportswear Co. | 522,519 | 51,395 |
Shares | Market Value ($000) | |||||
Papa John's International Inc. | 490,202 | 51,197 | ||||
* | Madison Square Garden Sports Corp. | 292,624 | 50,498 | |||
LCI Industries | 378,852 | 49,789 | ||||
* | Six Flags Entertainment Corp. | 1,145,894 | 49,594 | |||
* | Leslie's Inc. | 1,773,055 | 48,741 | |||
* | 2U Inc. | 1,111,564 | 46,319 | |||
* | Allegiant Travel Co. | 238,464 | 46,262 | |||
* | Dorman Products Inc. | 430,674 | 44,648 | |||
* | Red Rock Resorts Inc. Class A | 1,004,394 | 42,687 | |||
Ralph Lauren Corp. | 360,410 | 42,460 | ||||
* | iRobot Corp. | 443,811 | 41,448 | |||
World Wrestling Entertainment Inc. Class A | 715,048 | 41,394 | ||||
* | SeaWorld Entertainment Inc. | 808,144 | 40,359 | |||
Travel + Leisure Co. | 677,637 | 40,286 | ||||
* | Sleep Number Corp. | 365,476 | 40,184 | |||
* | Revolve Group Inc. Class A | 562,601 | 38,763 | |||
* | Coursera Inc. | 960,787 | 38,009 | |||
* | Selectquote Inc. | 1,927,037 | 37,115 | |||
Jack in the Box Inc. | 332,066 | 37,005 | ||||
* | Gentherm Inc. | 520,757 | 37,000 | |||
*,1 | Luminar Technologies Inc. Class A | 1,635,434 | 35,898 | |||
Levi Strauss & Co. Class A | 1,243,905 | 34,481 | ||||
Monro Inc. | 500,359 | 31,778 | ||||
* | Cardlytics Inc. | 232,641 | 29,529 | |||
Strategic Education Inc. | 387,650 | 29,485 | ||||
*,1 | Petco Health & Wellness Co. Inc. Class A | 1,246,625 | 27,937 | |||
Cracker Barrel Old Country Store Inc. | 186,563 | 27,697 | ||||
* | Dave & Buster's Entertainment Inc. | 676,089 | 27,449 | |||
Camping World Holdings Inc. Class A | 648,949 | 26,600 | ||||
Steven Madden Ltd. | 585,643 | 25,628 | ||||
* | Madison Square Garden Entertainment Corp. | 293,085 | 24,610 | |||
*,1 | Fisker Inc. | 1,152,704 | 22,224 | |||
* | Academy Sports & Outdoors Inc. | 516,275 | 21,291 | |||
* | RealReal Inc. | 999,620 | 19,753 | |||
EW Scripps Co. Class A | 885,010 | 18,045 | ||||
* | Liberty Media Corp.-Liberty Formula One Class A | 386,186 | 16,463 | |||
* | Driven Brands Holdings Inc. | 526,523 | 16,280 | |||
*,1 | ContextLogic Inc. Class A | 1,191,221 | 15,688 | |||
* | Cavco Industries Inc. | 68,697 | 15,264 | |||
* | Angi Inc. Class A | 1,102,029 | 14,899 | |||
* | WW International Inc. | 409,965 | 14,816 | |||
*,1 | Corsair Gaming Inc. | 434,938 | 14,479 | |||
Sinclair Broadcast Group Inc. Class A | 385,132 | 12,794 | ||||
* | Quotient Technology Inc. | 1,174,562 | 12,697 | |||
* | Dine Brands Global Inc. | 128,175 | 11,440 | |||
*,1 | Canoo Inc. | 1,120,465 | 11,137 | |||
*,1 | Poshmark Inc. Class A | 218,167 | 10,415 | |||
*,1 | Lordstown Motors Corp. | 902,479 | 9,981 | |||
* | Sun Country Airlines Holdings Inc. | 269,640 | 9,979 | |||
* | Stride Inc. | 310,307 | 9,970 | |||
Inter Parfums Inc. | 136,917 | 9,858 | ||||
* | elf Beauty Inc. | 362,685 | 9,843 | |||
* | Figs Inc. Class A | 180,626 | 9,049 | |||
*,1 | XL Fleet Corp. | 875,182 | 7,290 | |||
* | ACV Auctions Inc. Class A | 284,333 | 7,288 | |||
*,1 | Dream Finders Homes Inc. Class A | 279,311 | 6,824 | |||
* | Latham Group Inc. | 189,351 | 6,052 | |||
* | Frontier Group Holdings Inc. | 254,086 | 4,330 | |||
*,1 | ThredUp Inc. Class A | 112,213 | 3,263 | |||
*,1 | Revlon Inc. Class A | 125,334 | 1,609 |
Shares | Market Value ($000) | |||||
* | Mister Car Wash Inc. | 15,892 | 342 | |||
* | Integral Ad Science Holding Corp. | 7,901 | 163 | |||
5,818,836 | ||||||
Consumer Staples (2.89%) | ||||||
* | Boston Beer Co. Inc. Class A | 143,357 | 146,339 | |||
Casey's General Stores Inc. | 582,005 | 113,281 | ||||
* | Freshpet Inc. | 647,564 | 105,527 | |||
* | Post Holdings Inc. | 902,343 | 97,877 | |||
*,1 | Beyond Meat Inc. | 604,862 | 95,260 | |||
* | Darling Ingredients Inc. | 1,285,880 | 86,797 | |||
WD-40 Co. | 216,302 | 55,436 | ||||
Medifast Inc. | 176,396 | 49,917 | ||||
* | Simply Good Foods Co. | 1,360,594 | 49,675 | |||
J & J Snack Foods Corp. | 224,545 | 39,163 | ||||
* | Celsius Holdings Inc. | 460,217 | 35,018 | |||
Sanderson Farms Inc. | 158,036 | 29,706 | ||||
Coca-Cola Consolidated Inc. | 73,004 | 29,357 | ||||
Lancaster Colony Corp. | 151,645 | 29,345 | ||||
Utz Brands Inc. | 1,022,847 | 22,288 | ||||
* | Hydrofarm Holdings Group Inc. | 375,526 | 22,197 | |||
* | USANA Health Sciences Inc. | 190,976 | 19,562 | |||
* | BellRing Brands Inc. Class A | 621,438 | 19,476 | |||
National Beverage Corp. | 366,819 | 17,325 | ||||
* | Beauty Health Co. | 640,605 | 10,762 | |||
*,1 | AppHarvest Inc. | 473,002 | 7,568 | |||
*,1 | Vital Farms Inc. | 281,079 | 5,610 | |||
* | Honest Co. Inc. | 212,781 | 3,445 | |||
* | Duckhorn Portfolio Inc. | 134,362 | 2,964 | |||
1,093,895 | ||||||
Energy (2.86%) | ||||||
* | Enphase Energy Inc. | 962,184 | 176,686 | |||
Texas Pacific Land Corp. | 97,753 | 156,379 | ||||
Cabot Oil & Gas Corp. | 6,298,789 | 109,977 | ||||
* | ChampionX Corp. | 3,176,889 | 81,487 | |||
PDC Energy Inc. | 1,534,007 | 70,242 | ||||
Matador Resources Co. | 1,658,145 | 59,710 | ||||
* | Denbury Inc. | 749,638 | 57,557 | |||
* | Shoals Technologies Group Inc. Class A | 1,397,489 | 49,611 | |||
New Fortress Energy Inc. Class A | 1,300,172 | 49,251 | ||||
* | FuelCell Energy Inc. | 4,816,830 | 42,870 | |||
*,1 | Stem Inc. | 889,891 | 32,045 | |||
Cactus Inc. Class A | 856,245 | 31,441 | ||||
* | Array Technologies Inc. | 1,997,054 | 31,154 | |||
* | Oceaneering International Inc. | 1,568,663 | 24,424 | |||
* | Liberty Oilfield Services Inc. Class A | 1,602,954 | 22,698 | |||
* | Dril-Quip Inc. | 557,158 | 18,849 | |||
*,1 | ChargePoint Holdings Inc. | 491,400 | 17,071 | |||
* | Magnolia Oil & Gas Corp. Class A | 1,035,088 | 16,178 | |||
* | Ameresco Inc. Class A | 222,362 | 13,947 | |||
* | NexTier Oilfield Solutions Inc. | 2,711,448 | 12,906 | |||
* | Helix Energy Solutions Group Inc. | 1,125,759 | 6,428 | |||
1,080,911 | ||||||
Financials (3.95%) | ||||||
Pinnacle Financial Partners Inc. | 1,138,933 | 100,556 | ||||
Morningstar Inc. | 372,182 | 95,692 | ||||
Erie Indemnity Co. Class A | 400,469 | 77,431 | ||||
* | Open Lending Corp. Class A | 1,691,324 | 72,879 | |||
* | Alleghany Corp. | 104,316 | 69,586 | |||
Western Alliance Bancorp | 734,286 | 68,178 | ||||
*,1 | Credit Acceptance Corp. | 144,955 | 65,826 |
Shares | Market Value ($000) | |||||
* | Trupanion Inc. | 568,553 | 65,440 | |||
Pacific Premier Bancorp Inc. | 1,493,059 | 63,141 | ||||
*,1 | Lemonade Inc. | 532,836 | 58,298 | |||
Kinsale Capital Group Inc. | 341,966 | 56,346 | ||||
Ameris Bancorp | 1,045,457 | 52,931 | ||||
ServisFirst Bancshares Inc. | 769,220 | 52,292 | ||||
Hamilton Lane Inc. Class A | 484,919 | 44,186 | ||||
Independent Bank Group Inc. | 580,404 | 42,938 | ||||
Virtu Financial Inc. Class A | 1,503,984 | 41,555 | ||||
Essent Group Ltd. | 842,934 | 37,890 | ||||
* | LendingTree Inc. | 177,913 | 37,696 | |||
* | Focus Financial Partners Inc. Class A | 752,007 | 36,472 | |||
Goosehead Insurance Inc. Class A | 261,107 | 33,239 | ||||
Houlihan Lokey Inc. Class A | 404,180 | 33,058 | ||||
Cohen & Steers Inc. | 379,334 | 31,140 | ||||
* | Upstart Holdings Inc. | 241,867 | 30,209 | |||
* | Cannae Holdings Inc. | 684,607 | 23,215 | |||
*,1 | Riot Blockchain Inc. | 562,377 | 21,185 | |||
* | Silvergate Capital Corp. Class A | 179,295 | 20,318 | |||
TFS Financial Corp. | 882,524 | 17,915 | ||||
National Bank Holdings Corp. Class A | 459,976 | 17,359 | ||||
* | Oscar Health Inc. Class A | 677,246 | 14,561 | |||
* | Palomar Holdings Inc. | 191,159 | 14,425 | |||
Kearny Financial Corp. | 1,143,415 | 13,664 | ||||
PJT Partners Inc. Class A | 174,041 | 12,423 | ||||
*,1 | Root Inc. Class A | 1,093,163 | 11,828 | |||
* | eHealth Inc. | 195,223 | 11,401 | |||
Redwood Trust Inc. | 888,443 | 10,724 | ||||
* | GoHealth Inc. Class A | 943,481 | 10,576 | |||
StepStone Group Inc. Class A | 302,256 | 10,398 | ||||
*,1 | MetroMile Inc. | 743,446 | 6,803 | |||
*,1 | Romeo Power Inc. | 670,542 | 5,458 | |||
* | AssetMark Financial Holdings Inc. | 142,440 | 3,570 | |||
1 | GCM Grosvenor Inc. Class A | 268,180 | 2,794 | |||
1 | loanDepot Inc. Class A | 24,071 | 309 | |||
1,495,905 | ||||||
Health Care (23.66%) | ||||||
* | Charles River Laboratories International Inc. | 791,143 | 292,660 | |||
* | Avantor Inc. | 7,792,662 | 276,717 | |||
Bio-Techne Corp. | 612,606 | 275,832 | ||||
PerkinElmer Inc. | 1,765,488 | 272,609 | ||||
* | Masimo Corp. | 779,330 | 188,949 | |||
* | Guardant Health Inc. | 1,513,816 | 188,001 | |||
* | Intellia Therapeutics Inc. | 1,025,109 | 165,975 | |||
* | Repligen Corp. | 821,936 | 164,075 | |||
* | Penumbra Inc. | 546,133 | 149,673 | |||
* | Syneos Health Inc. | 1,635,018 | 146,318 | |||
* | Catalent Inc. | 1,341,194 | 145,010 | |||
* | Neurocrine Biosciences Inc. | 1,489,546 | 144,963 | |||
* | Natera Inc. | 1,247,521 | 141,631 | |||
* | Arrowhead Pharmaceuticals Inc. | 1,558,311 | 129,059 | |||
* | Amedisys Inc. | 513,115 | 125,677 | |||
Chemed Corp. | 251,222 | 119,205 | ||||
Bruker Corp. | 1,551,297 | 117,868 | ||||
* | Novocure Ltd. | 512,313 | 113,641 | |||
* | STAAR Surgical Co. | 739,063 | 112,707 | |||
* | Fate Therapeutics Inc. | 1,259,745 | 109,333 | |||
* | Acceleron Pharma Inc. | 860,951 | 108,041 | |||
* | Bio-Rad Laboratories Inc. Class A | 165,330 | 106,520 | |||
* | HealthEquity Inc. | 1,313,768 | 105,732 | |||
* | Omnicell Inc. | 680,446 | 103,054 |
Shares | Market Value ($000) | |||||
* | Halozyme Therapeutics Inc. | 2,243,244 | 101,866 | |||
* | LHC Group Inc. | 473,994 | 94,922 | |||
* | Globus Medical Inc. Class A | 1,222,803 | 94,804 | |||
* | Shockwave Medical Inc. | 496,154 | 94,135 | |||
* | Sarepta Therapeutics Inc. | 1,195,067 | 92,905 | |||
* | Twist Bioscience Corp. | 693,770 | 92,445 | |||
* | Tandem Diabetes Care Inc. | 937,710 | 91,333 | |||
* | Ultragenyx Pharmaceutical Inc. | 957,398 | 91,288 | |||
* | Exelixis Inc. | 4,938,774 | 89,984 | |||
*,1 | Invitae Corp. | 2,633,124 | 88,815 | |||
* | Nevro Corp. | 520,667 | 86,321 | |||
* | Ionis Pharmaceuticals Inc. | 2,111,861 | 84,242 | |||
* | Blueprint Medicines Corp. | 920,066 | 80,929 | |||
* | Medpace Holdings Inc. | 453,626 | 80,124 | |||
* | NeoGenomics Inc. | 1,766,391 | 79,788 | |||
* | Inspire Medical Systems Inc. | 407,693 | 78,791 | |||
* | Neogen Corp. | 1,687,084 | 77,673 | |||
* | Integra LifeSciences Holdings Corp. | 1,132,914 | 77,310 | |||
* | Adaptive Biotechnologies Corp. | 1,881,243 | 76,868 | |||
* | Beam Therapeutics Inc. | 592,159 | 76,217 | |||
* | CareDx Inc. | 820,684 | 75,109 | |||
* | Quidel Corp. | 570,251 | 73,061 | |||
Ensign Group Inc. | 823,471 | 71,370 | ||||
* | ICU Medical Inc. | 317,927 | 65,429 | |||
* | Arena Pharmaceuticals Inc. | 957,788 | 65,321 | |||
* | Apellis Pharmaceuticals Inc. | 1,015,682 | 64,191 | |||
* | Alkermes plc | 2,531,042 | 62,061 | |||
* | Editas Medicine Inc. Class A | 1,068,304 | 60,509 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 1,443,027 | 60,218 | |||
Hill-Rom Holdings Inc. | 524,275 | 59,552 | ||||
* | Glaukos Corp. | 693,725 | 58,849 | |||
* | NuVasive Inc. | 815,006 | 55,241 | |||
* | Merit Medical Systems Inc. | 839,506 | 54,282 | |||
* | AtriCure Inc. | 684,065 | 54,267 | |||
* | Haemonetics Corp. | 804,115 | 53,586 | |||
* | Agios Pharmaceuticals Inc. | 971,831 | 53,558 | |||
* | Progyny Inc. | 904,867 | 53,387 | |||
* | Insmed Inc. | 1,811,422 | 51,553 | |||
* | Allakos Inc. | 591,845 | 50,526 | |||
* | 1Life Healthcare Inc. | 1,512,950 | 50,018 | |||
* | Nektar Therapeutics | 2,878,516 | 49,395 | |||
* | Denali Therapeutics Inc. | 619,382 | 48,584 | |||
* | Vir Biotechnology Inc. | 1,022,462 | 48,342 | |||
* | Emergent BioSolutions Inc. | 758,398 | 47,772 | |||
* | Arvinas Inc. | 618,787 | 47,647 | |||
* | PTC Therapeutics Inc. | 1,112,497 | 47,025 | |||
* | Sage Therapeutics Inc. | 827,668 | 47,020 | |||
* | Intra-Cellular Therapies Inc. | 1,149,266 | 46,913 | |||
* | ACADIA Pharmaceuticals Inc. | 1,897,122 | 46,271 | |||
* | R1 RCM Inc. | 2,056,805 | 45,743 | |||
* | Inari Medical Inc. | 468,711 | 43,721 | |||
* | Veracyte Inc. | 1,057,514 | 42,279 | |||
* | Pacira BioSciences Inc. | 692,337 | 42,011 | |||
* | Amicus Therapeutics Inc. | 4,183,986 | 40,334 | |||
* | Accolade Inc. | 738,100 | 40,086 | |||
* | Inovalon Holdings Inc. Class A | 1,162,470 | 39,617 | |||
* | SpringWorks Therapeutics Inc. | 462,919 | 38,149 | |||
* | Sotera Health Co. | 1,556,908 | 37,724 | |||
* | Option Care Health Inc. | 1,696,713 | 37,107 | |||
* | Corcept Therapeutics Inc. | 1,659,299 | 36,505 | |||
* | FibroGen Inc. | 1,303,901 | 34,723 |
Shares | Market Value ($000) | |||||
* | Global Blood Therapeutics Inc. | 979,186 | 34,291 | |||
* | Bluebird Bio Inc. | 1,060,667 | 33,920 | |||
* | Health Catalyst Inc. | 595,116 | 33,035 | |||
* | Berkeley Lights Inc. | 734,493 | 32,913 | |||
* | Ligand Pharmaceuticals Inc. | 248,780 | 32,637 | |||
* | Xencor Inc. | 915,637 | 31,580 | |||
CONMED Corp. | 228,756 | 31,438 | ||||
* | Privia Health Group Inc. | 692,386 | 30,721 | |||
* | AdaptHealth Corp. Class A | 1,117,841 | 30,640 | |||
* | REVOLUTION Medicines Inc. | 923,948 | 29,326 | |||
* | Relay Therapeutics Inc. | 799,030 | 29,237 | |||
* | iRhythm Technologies Inc. | 437,772 | 29,046 | |||
* | Allogene Therapeutics Inc. | 1,112,902 | 29,025 | |||
* | Zentalis Pharmaceuticals Inc. | 523,831 | 27,868 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 2,165,054 | 27,864 | |||
* | Ortho Clinical Diagnostics Holdings plc | 1,292,947 | 27,682 | |||
Luminex Corp. | 706,823 | 26,011 | ||||
* | Evolent Health Inc. Class A | 1,230,345 | 25,985 | |||
*,1 | Multiplan Corp. | 2,626,022 | 25,000 | |||
* | Heron Therapeutics Inc. | 1,601,349 | 24,853 | |||
* | Supernus Pharmaceuticals Inc. | 792,079 | 24,388 | |||
* | Deciphera Pharmaceuticals Inc. | 638,079 | 23,360 | |||
* | Silk Road Medical Inc. | 488,030 | 23,357 | |||
* | NanoString Technologies Inc. | 355,482 | 23,032 | |||
* | Inogen Inc. | 352,181 | 22,952 | |||
* | REGENXBIO Inc. | 568,235 | 22,076 | |||
* | CorVel Corp. | 154,457 | 20,744 | |||
* | Certara Inc. | 601,427 | 17,038 | |||
* | Alector Inc. | 815,357 | 16,984 | |||
* | Pennant Group Inc. | 400,598 | 16,384 | |||
*,1 | Butterfly Network Inc. | 1,101,886 | 15,955 | |||
* | Generation Bio Co. | 578,894 | 15,572 | |||
* | Rocket Pharmaceuticals Inc. | 348,948 | 15,455 | |||
*,1 | SmileDirectClub Inc. Class A | 1,766,613 | 15,334 | |||
* | Pulmonx Corp. | 342,008 | 15,089 | |||
* | PMV Pharmaceuticals Inc. | 424,906 | 14,515 | |||
*,1 | Kronos Bio Inc. | 573,141 | 13,727 | |||
* | Radius Health Inc. | 742,931 | 13,551 | |||
* | Theravance Biopharma Inc. | 905,581 | 13,149 | |||
* | Innoviva Inc. | 980,389 | 13,147 | |||
*,1 | ImmunityBio Inc. | 905,562 | 12,931 | |||
* | Eargo Inc. | 304,536 | 12,154 | |||
* | Signify Health Inc. Class A | 396,292 | 12,059 | |||
* | Vaxcyte Inc. | 525,178 | 11,822 | |||
*,1 | OPKO Health Inc. | 2,898,168 | 11,738 | |||
* | Orthofix Medical Inc. | 292,281 | 11,723 | |||
*,1 | Clover Health Investments Corp. | 874,422 | 11,647 | |||
* | HealthStream Inc. | 396,997 | 11,092 | |||
* | ChemoCentryx Inc. | 822,677 | 11,016 | |||
* | Sangamo Therapeutics Inc. | 905,089 | 10,834 | |||
* | Epizyme Inc. | 1,282,955 | 10,661 | |||
* | Doximity Inc. Class A | 183,163 | 10,660 | |||
*,1 | Nuvation Bio Inc. | 1,112,422 | 10,357 | |||
* | Alignment Healthcare Inc. | 441,739 | 10,323 | |||
* | Atara Biotherapeutics Inc. | 628,070 | 9,767 | |||
*,1 | Precigen Inc. | 1,465,258 | 9,554 | |||
*,1 | Hims & Hers Health Inc. | 865,328 | 9,423 | |||
* | Phathom Pharmaceuticals Inc. | 270,994 | 9,173 | |||
* | Recursion Pharmaceuticals Inc. Class A | 249,814 | 9,118 | |||
* | Sana Biotechnology Inc. | 442,707 | 8,704 | |||
* | Rubius Therapeutics Inc. | 351,136 | 8,571 |
Shares | Market Value ($000) | |||||
* | LifeStance Health Group Inc. | 300,458 | 8,371 | |||
* | Intercept Pharmaceuticals Inc. | 417,217 | 8,332 | |||
* | Gossamer Bio Inc. | 955,066 | 7,755 | |||
*,1 | Cerevel Therapeutics Holdings Inc. | 300,678 | 7,703 | |||
* | BioAtla Inc. | 177,077 | 7,505 | |||
* | Olema Pharmaceuticals Inc. | 251,111 | 7,026 | |||
* | Natus Medical Inc. | 267,963 | 6,962 | |||
* | Innovage Holding Corp. | 319,664 | 6,812 | |||
* | Instil Bio Inc. | 303,697 | 5,867 | |||
* | Nkarta Inc. | 179,967 | 5,703 | |||
* | Agiliti Inc. | 256,096 | 5,601 | |||
*,1 | Prelude Therapeutics Inc. | 195,359 | 5,593 | |||
*,1 | Cullinan Oncology Inc. | 205,296 | 5,286 | |||
* | Kinnate Biopharma Inc. | 206,110 | 4,798 | |||
* | Spectrum Pharmaceuticals Inc. | 1,270,132 | 4,763 | |||
*,1 | Esperion Therapeutics Inc. | 221,681 | 4,689 | |||
*,1 | Clovis Oncology Inc. | 781,130 | 4,531 | |||
* | Aveanna Healthcare Holdings Inc. | 362,018 | 4,478 | |||
* | Seer Inc. Class A | 133,591 | 4,379 | |||
* | ZIOPHARM Oncology Inc. | 1,610,002 | 4,250 | |||
* | AnaptysBio Inc. | 150,658 | 3,907 | |||
* | Harmony Biosciences Holdings Inc. | 111,859 | 3,158 | |||
* | Lyell Immunopharma Inc. | 190,894 | 3,100 | |||
* | Vor BioPharma Inc. | 145,989 | 2,723 | |||
* | Treace Medical Concepts Inc. | 82,958 | 2,593 | |||
* | Singular Genomics Systems Inc. | 81,182 | 2,231 | |||
*,1 | Design Therapeutics Inc. | 109,337 | 2,175 | |||
* | Day One Biopharmaceuticals Inc. | 62,505 | 1,423 | |||
*,2 | Alder Biopharmaceuticals Inc. CVR Exp. 12/31/2024 | 1,054,451 | 928 | |||
* | Bright Health Group Inc. | 47,686 | 818 | |||
* | PRA Health Sciences Inc. | 780 | 129 | |||
8,948,863 | ||||||
Industrials (16.59%) | ||||||
* | Fair Isaac Corp. | 430,271 | 216,289 | |||
* | Bill.com Holdings Inc. | 1,145,450 | 209,824 | |||
Graco Inc. | 2,666,950 | 201,888 | ||||
Lennox International Inc. | 535,192 | 187,745 | ||||
Toro Co. | 1,694,124 | 186,150 | ||||
* | Trex Co. Inc. | 1,817,195 | 185,736 | |||
Nordson Corp. | 822,942 | 180,644 | ||||
* | Axon Enterprise Inc. | 1,019,291 | 180,211 | |||
MKS Instruments Inc. | 872,332 | 155,231 | ||||
A O Smith Corp. | 2,118,181 | 152,636 | ||||
Watsco Inc. | 518,243 | 148,549 | ||||
* | Berry Global Group Inc. | 2,124,277 | 138,545 | |||
* | WEX Inc. | 704,575 | 136,617 | |||
Genpact Ltd. | 2,949,832 | 134,011 | ||||
* | Paylocity Holding Corp. | 600,657 | 114,605 | |||
*,1 | Virgin Galactic Holdings Inc. | 2,465,944 | 113,433 | |||
Cognex Corp. | 1,321,467 | 111,069 | ||||
* | Euronet Worldwide Inc. | 790,151 | 106,947 | |||
* | TopBuild Corp. | 520,862 | 103,016 | |||
* | Coherent Inc. | 386,483 | 102,163 | |||
* | WillScot Mobile Mini Holdings Corp. | 3,573,618 | 99,597 | |||
Advanced Drainage Systems Inc. | 845,980 | 98,616 | ||||
Littelfuse Inc. | 386,897 | 98,577 | ||||
Jack Henry & Associates Inc. | 585,226 | 95,690 | ||||
Landstar System Inc. | 605,187 | 95,632 | ||||
Eagle Materials Inc. | 667,785 | 94,899 | ||||
BWX Technologies Inc. | 1,499,417 | 87,146 | ||||
* | Saia Inc. | 415,013 | 86,941 |
Shares | Market Value ($000) | |||||
Maximus Inc. | 968,840 | 85,229 | ||||
* | Chart Industries Inc. | 573,197 | 83,870 | |||
* | ASGN Inc. | 796,716 | 77,226 | |||
* | Middleby Corp. | 438,538 | 75,981 | |||
Simpson Manufacturing Co. Inc. | 684,706 | 75,619 | ||||
Exponent Inc. | 821,825 | 73,315 | ||||
* | AZEK Co. Inc. Class A | 1,707,832 | 72,515 | |||
* | AMN Healthcare Services Inc. | 745,147 | 72,264 | |||
John Bean Technologies Corp. | 500,991 | 71,451 | ||||
* | Itron Inc. | 711,632 | 71,149 | |||
* | ACI Worldwide Inc. | 1,769,867 | 65,733 | |||
* | Shift4 Payments Inc. Class A | 646,768 | 60,615 | |||
* | Mercury Systems Inc. | 886,032 | 58,726 | |||
Woodward Inc. | 476,101 | 58,503 | ||||
Aerojet Rocketdyne Holdings Inc. | 1,196,435 | 57,776 | ||||
* | Kratos Defense & Security Solutions Inc. | 1,953,064 | 55,643 | |||
* | Bloom Energy Corp. Class A | 2,046,743 | 54,996 | |||
* | ExlService Holdings Inc. | 499,850 | 53,114 | |||
Insperity Inc. | 579,884 | 52,404 | ||||
*,1 | Nikola Corp. | 2,787,065 | 50,334 | |||
Franklin Electric Co. Inc. | 623,638 | 50,278 | ||||
*,1 | Marathon Digital Holdings Inc. | 1,486,030 | 46,617 | |||
Installed Building Products Inc. | 375,162 | 45,905 | ||||
* | TriNet Group Inc. | 621,617 | 45,055 | |||
Badger Meter Inc. | 458,821 | 45,020 | ||||
* | Masonite International Corp. | 385,291 | 43,072 | |||
AAON Inc. | 659,654 | 41,288 | ||||
Armstrong World Industries Inc. | 376,522 | 40,386 | ||||
* | Proto Labs Inc. | 435,432 | 39,973 | |||
Forward Air Corp. | 429,600 | 38,557 | ||||
* | AeroVironment Inc. | 370,367 | 37,092 | |||
Mueller Water Products Inc. Class A | 2,492,924 | 35,948 | ||||
Helios Technologies Inc. | 456,201 | 35,606 | ||||
* | Vicor Corp. | 324,675 | 34,331 | |||
Raven Industries Inc. | 564,835 | 32,676 | ||||
* | Verra Mobility Corp. Class A | 2,042,575 | 31,394 | |||
*,1 | TuSimple Holdings Inc. Class A | 436,471 | 31,094 | |||
Lindsay Corp. | 171,518 | 28,348 | ||||
* | Cimpress plc | 245,639 | 26,630 | |||
* | Welbilt Inc. | 1,009,012 | 23,359 | |||
* | FARO Technologies Inc. | 285,504 | 22,204 | |||
Tennant Co. | 278,033 | 22,201 | ||||
* | Air Transport Services Group Inc. | 933,524 | 21,686 | |||
Albany International Corp. Class A | 241,381 | 21,546 | ||||
Maxar Technologies Inc. | 536,786 | 21,428 | ||||
Comfort Systems USA Inc. | 270,840 | 21,339 | ||||
* | Evo Payments Inc. Class A | 736,843 | 20,440 | |||
* | Gibraltar Industries Inc. | 256,555 | 19,578 | |||
* | Hayward Holdings Inc. | 726,837 | 18,912 | |||
* | Dycom Industries Inc. | 229,906 | 17,135 | |||
*,1 | PureCycle Technologies Inc. | 629,653 | 14,891 | |||
*,1 | Desktop Metal Inc. Class A | 1,106,095 | 12,720 | |||
* | Danimer Scientific Inc. | 504,416 | 12,636 | |||
Enerpac Tool Group Corp. Class A | 472,717 | 12,584 | ||||
* | BTRS Holdings Inc. | 941,389 | 11,880 | |||
* | American Woodmark Corp. | 133,678 | 10,920 | |||
* | ZipRecruiter Inc. Class A | 406,207 | 10,147 | |||
*,1 | Hyliion Holdings Corp. | 812,950 | 9,471 | |||
* | Thermon Group Holdings Inc. | 522,045 | 8,896 | |||
Pactiv Evergreen Inc. | 557,166 | 8,396 | ||||
* | Forrester Research Inc. | 180,513 | 8,267 |
Shares | Market Value ($000) | |||||
*,1 | Velodyne Lidar Inc. | 745,746 | 7,935 | |||
*,1 | View Inc. | 768,080 | 6,513 | |||
Heartland Express Inc. | 377,029 | 6,459 | ||||
* | GreenSky Inc. Class A | 1,113,595 | 6,180 | |||
Gorman-Rupp Co. | 164,285 | 5,658 | ||||
* | First Advantage Corp. | 179,240 | 3,569 | |||
* | TaskUS Inc. Class A | 98,932 | 3,387 | |||
* | Latch Inc. | 248,306 | 3,047 | |||
* | Paymentus Holdings Inc. Class A | 77,966 | 2,768 | |||
* | Flywire Corp. | 74,599 | 2,741 | |||
* | Legalzoom.com Inc. | 7,903 | 299 | |||
6,277,332 | ||||||
Other (0.00%)3 | ||||||
*,2 | First Eagle Private Credit LLC CVR | 323,987 | 30 | |||
Real Estate (7.81%) | ||||||
Equity LifeStyle Properties Inc. | 2,582,815 | 191,929 | ||||
American Homes 4 Rent Class A | 4,343,805 | 168,757 | ||||
Americold Realty Trust | 3,976,199 | 150,499 | ||||
CubeSmart | 3,173,041 | 146,975 | ||||
CyrusOne Inc. | 1,930,832 | 138,093 | ||||
STORE Capital Corp. | 3,833,714 | 132,301 | ||||
Rexford Industrial Realty Inc. | 2,253,007 | 128,309 | ||||
Kilroy Realty Corp. | 1,833,964 | 127,717 | ||||
American Campus Communities Inc. | 2,172,038 | 101,478 | ||||
* | Redfin Corp. | 1,558,657 | 98,834 | |||
* | Host Hotels & Resorts Inc. | 5,563,012 | 95,072 | |||
STAG Industrial Inc. | 2,516,216 | 94,182 | ||||
Healthcare Trust of America Inc. Class A | 3,448,238 | 92,068 | ||||
CoreSite Realty Corp. | 677,373 | 91,174 | ||||
Spirit Realty Capital Inc. | 1,811,774 | 86,675 | ||||
Regency Centers Corp. | 1,338,515 | 85,759 | ||||
QTS Realty Trust Inc. Class A | 1,084,035 | 83,796 | ||||
Innovative Industrial Properties Inc. | 376,253 | 71,872 | ||||
Lamar Advertising Co. Class A | 683,438 | 71,365 | ||||
Terreno Realty Corp. | 1,096,830 | 70,768 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,241,102 | 69,688 | ||||
* | Howard Hughes Corp. | 651,922 | 63,536 | |||
* | Ryman Hospitality Properties Inc. | 781,535 | 61,710 | |||
Broadstone Net Lease Inc. Class A | 2,458,275 | 57,548 | ||||
National Storage Affiliates Trust | 963,758 | 48,728 | ||||
PS Business Parks Inc. | 324,689 | 48,080 | ||||
* | eXp World Holdings Inc. | 1,024,072 | 39,703 | |||
CareTrust REIT Inc. | 1,522,018 | 35,357 | ||||
Physicians Realty Trust | 1,694,201 | 31,292 | ||||
JBG SMITH Properties | 982,272 | 30,951 | ||||
* | DigitalBridge Group Inc. | 3,824,623 | 30,215 | |||
Paramount Group Inc. | 2,926,551 | 29,470 | ||||
Kite Realty Group Trust | 1,328,575 | 29,242 | ||||
Essential Properties Realty Trust Inc. | 923,865 | 24,981 | ||||
St. Joe Co. | 555,588 | 24,785 | ||||
Pebblebrook Hotel Trust | 1,033,050 | 24,328 | ||||
Safehold Inc. | 251,272 | 19,725 | ||||
Uniti Group Inc. | 1,835,679 | 19,440 | ||||
* | Marcus & Millichap Inc. | 404,150 | 15,709 | |||
Universal Health Realty Income Trust | 194,918 | 11,997 | ||||
Alexander's Inc. | 32,124 | 8,608 | ||||
* | Compass Inc. Class A | 8,468 | 111 | |||
2,952,827 |
Shares | Market Value ($000) | |||||
Technology (21.64%) | ||||||
Entegris Inc. | 2,134,071 | 262,427 | ||||
* | PTC Inc. | 1,655,485 | 233,854 | |||
* | Avalara Inc. | 1,286,677 | 208,184 | |||
* | Ceridian HCM Holding Inc. | 2,115,543 | 202,923 | |||
* | Five9 Inc. | 1,056,065 | 193,672 | |||
* | Dynatrace Inc. | 3,121,338 | 182,349 | |||
* | Cree Inc. | 1,819,566 | 178,190 | |||
* | MongoDB Inc. Class A | 464,794 | 168,032 | |||
* | Proofpoint Inc. | 902,792 | 156,869 | |||
* | Guidewire Software Inc. | 1,318,485 | 148,620 | |||
Universal Display Corp. | 668,241 | 148,570 | ||||
* | Aspen Technology Inc. | 1,070,916 | 147,294 | |||
* | Manhattan Associates Inc. | 1,001,712 | 145,088 | |||
* | Elastic NV | 989,947 | 144,295 | |||
* | Zendesk Inc. | 934,183 | 134,840 | |||
* | Smartsheet Inc. Class A | 1,863,933 | 134,800 | |||
Monolithic Power Systems Inc. | 342,325 | 127,841 | ||||
Vertiv Holdings Co. Class A | 4,440,403 | 121,223 | ||||
* | Lattice Semiconductor Corp. | 2,151,765 | 120,886 | |||
* | II-VI Inc. | 1,653,036 | 119,994 | |||
* | Nutanix Inc. Class A | 3,047,951 | 116,493 | |||
Brooks Automation Inc. | 1,171,186 | 111,591 | ||||
* | Anaplan Inc. | 2,050,124 | 109,272 | |||
* | Silicon Laboratories Inc. | 704,949 | 108,033 | |||
* | Upwork Inc. | 1,789,099 | 104,287 | |||
Dolby Laboratories Inc. Class A | 1,028,042 | 101,046 | ||||
* | Digital Turbine Inc. | 1,267,937 | 96,401 | |||
CDK Global Inc. | 1,918,758 | 95,343 | ||||
* | J2 Global Inc. | 675,318 | 92,890 | |||
* | Blackline Inc. | 823,196 | 91,597 | |||
* | Varonis Systems Inc. Class B | 1,589,162 | 91,567 | |||
*,1 | Fastly Inc. Class A | 1,500,849 | 89,451 | |||
Pegasystems Inc. | 640,322 | 89,126 | ||||
* | Q2 Holdings Inc. | 842,957 | 86,471 | |||
* | Appian Corp. | 620,101 | 85,419 | |||
* | Pure Storage Inc. Class A | 4,241,094 | 82,829 | |||
* | Everbridge Inc. | 593,578 | 80,774 | |||
* | Alteryx Inc. Class A | 933,461 | 80,296 | |||
National Instruments Corp. | 1,867,109 | 78,941 | ||||
* | Rapid7 Inc. | 825,588 | 78,125 | |||
* | 3D Systems Corp. | 1,873,115 | 74,868 | |||
Power Integrations Inc. | 908,423 | 74,545 | ||||
* | FireEye Inc. | 3,571,483 | 72,215 | |||
* | Vroom Inc. | 1,721,198 | 72,049 | |||
* | Novanta Inc. | 530,021 | 71,426 | |||
* | Sailpoint Technologies Holdings Inc. | 1,382,870 | 70,623 | |||
* | Semtech Corp. | 1,024,135 | 70,460 | |||
CMC Materials Inc. | 461,295 | 69,536 | ||||
Advanced Energy Industries Inc. | 605,900 | 68,291 | ||||
* | Asana Inc. Class A | 1,084,316 | 67,260 | |||
* | Workiva Inc. Class A | 599,065 | 66,694 | |||
* | Magnite Inc. | 1,930,192 | 65,318 | |||
* | LivePerson Inc. | 978,837 | 61,902 | |||
* | Envestnet Inc. | 815,465 | 61,861 | |||
*,1 | MicroStrategy Inc. Class A | 92,068 | 61,179 | |||
* | New Relic Inc. | 905,649 | 60,651 | |||
* | Alarm.com Holdings Inc. | 706,398 | 59,832 | |||
* | Rogers Corp. | 295,211 | 59,278 | |||
*,1 | Box Inc. Class A | 2,301,692 | 58,808 | |||
* | Ambarella Inc. | 543,518 | 57,955 |
Shares | Market Value ($000) | |||||
* | SPS Commerce Inc. | 563,982 | 56,314 | |||
* | Fabrinet | 581,992 | 55,796 | |||
* | CommVault Systems Inc. | 687,608 | 53,750 | |||
* | nCino Inc. | 893,477 | 53,537 | |||
* | Onto Innovation Inc. | 732,614 | 53,510 | |||
* | Diodes Inc. | 668,922 | 53,360 | |||
* | Qualys Inc. | 525,054 | 52,868 | |||
* | Cloudera Inc. | 3,236,105 | 51,325 | |||
* | Cornerstone OnDemand Inc. | 992,560 | 51,196 | |||
* | Vimeo Inc. | 1,027,909 | 50,368 | |||
* | Duck Creek Technologies Inc. | 1,142,338 | 49,703 | |||
* | Altair Engineering Inc. Class A | 718,829 | 49,578 | |||
* | MACOM Technology Solutions Holdings Inc. | 755,912 | 48,439 | |||
* | Tenable Holdings Inc. | 1,166,860 | 48,250 | |||
* | Medallia Inc. | 1,358,848 | 45,861 | |||
* | MaxLinear Inc. Class A | 1,066,824 | 45,329 | |||
* | PagerDuty Inc. | 1,051,194 | 44,760 | |||
* | Yelp Inc. Class A | 1,117,660 | 44,662 | |||
* | FormFactor Inc. | 1,220,656 | 44,505 | |||
* | Bandwidth Inc. Class A | 293,152 | 40,431 | |||
* | BigCommerce Holdings Inc. | 597,603 | 38,796 | |||
* | Cargurus Inc. Class A | 1,400,107 | 36,725 | |||
Shutterstock Inc. | 373,647 | 36,681 | ||||
* | Appfolio Inc. Class A | 253,316 | 35,768 | |||
Switch Inc. Class A | 1,647,137 | 34,771 | ||||
* | Schrodinger Inc. | 409,958 | 30,997 | |||
* | Blackbaud Inc. | 383,861 | 29,392 | |||
* | Zuora Inc. Class A | 1,662,090 | 28,671 | |||
* | PROS Holdings Inc. | 626,323 | 28,542 | |||
* | Bottomline Technologies DE Inc. | 713,769 | 26,467 | |||
* | Yext Inc. | 1,685,655 | 24,088 | |||
* | Sprout Social Inc. Class A | 262,481 | 23,471 | |||
* | LiveRamp Holdings Inc. | 499,874 | 23,419 | |||
* | nLight Inc. | 639,521 | 23,202 | |||
* | Eventbrite Inc. Class A | 1,177,668 | 22,376 | |||
* | Ping Identity Holding Corp. | 803,331 | 18,396 | |||
* | Veeco Instruments Inc. | 749,698 | 18,023 | |||
* | Telos Corp. | 524,724 | 17,846 | |||
*,1 | Skillz Inc. Class A | 771,103 | 16,748 | |||
* | CEVA Inc. | 340,819 | 16,121 | |||
* | Parsons Corp. | 402,599 | 15,846 | |||
* | MediaAlpha Inc. Class A | 334,067 | 14,064 | |||
* | Jamf Holding Corp. | 416,555 | 13,984 | |||
* | DigitalOcean Holdings Inc. | 251,368 | 13,974 | |||
* | Rackspace Technology Inc. | 653,816 | 12,821 | |||
*,1 | E2open Parent Holdings Inc. | 956,037 | 10,918 | |||
* | Datto Holding Corp. | 380,435 | 10,591 | |||
* | SolarWinds Corp. | 620,635 | 10,483 | |||
*,1 | Squarespace Inc. Class A | 168,007 | 9,981 | |||
*,1 | Ouster Inc. | 763,147 | 9,532 | |||
*,1 | Aeva Technologies Inc. | 829,735 | 8,770 | |||
* | Olo Inc. Class A | 215,616 | 8,062 | |||
* | Confluent Inc. Class A | 167,016 | 7,933 | |||
* | ON24 Inc. | 218,755 | 7,761 | |||
Ebix Inc. | 194,607 | 6,597 | ||||
* | Sciplay Corp. Class A | 364,272 | 6,174 | |||
* | Viant Technology Inc. Class A | 171,808 | 5,116 | |||
*,1 | PubMatic Inc. Class A | 84,606 | 3,306 | |||
* | Sprinklr Inc. Class A | 130,697 | 2,691 | |||
* | Vertex Inc. Class A | 118,770 | 2,606 | |||
* | KnowBe4 Inc. Class A | 69,125 | 2,162 |
Shares | Market Value ($000) | |||||
* | SecureWorks Corp. Class A | 106,545 | 1,974 | |||
* | SEMrush Holdings Inc. Class A | 84,301 | 1,941 | |||
*,1 | Zeta Global Holdings Corp. Class A | 180,530 | 1,516 | |||
* | SentinelOne Inc. Class A | 7,901 | 336 | |||
* | Clear Secure Inc. Class A | 7,900 | 316 | |||
* | DoubleVerify Holdings Inc. | 3,178 | 135 | |||
* | Xometry Inc. Class A | 794 | 69 | |||
*,2 | Media General Inc. CVR | 1,362,047 | 53 | |||
* | Procore Technologies Inc. | 329 | 31 | |||
* | Alkami Technology Inc. | 793 | 28 | |||
8,188,467 | ||||||
Telecommunications (1.74%) | ||||||
Cable One Inc. | 85,544 | 163,629 | ||||
* | Ciena Corp. | 2,440,854 | 138,860 | |||
* | Lumentum Holdings Inc. | 1,195,914 | 98,101 | |||
* | Viasat Inc. | 1,085,513 | 54,102 | |||
Cogent Communications Holdings Inc. | 675,250 | 51,920 | ||||
Shenandoah Telecommunications Co. | 746,164 | 36,196 | ||||
*,1 | fuboTV Inc. | 938,773 | 30,144 | |||
* | Infinera Corp. | 2,740,249 | 27,951 | |||
*,1 | Globalstar Inc. | 11,272,070 | 20,064 | |||
* | WideOpenWest Inc. | 822,056 | 17,025 | |||
Loral Space & Communications Inc. | 202,182 | 7,855 | ||||
ATN International Inc. | 162,753 | 7,404 | ||||
*,1 | Gogo Inc. | 344,751 | 3,923 | |||
657,174 | ||||||
Utilities (1.35%) | ||||||
* | Sunrun Inc. | 3,053,667 | 170,334 | |||
* | Clean Harbors Inc. | 774,346 | 72,123 | |||
* | Evoqua Water Technologies Corp. | 1,891,187 | 63,884 | |||
* | Casella Waste Systems Inc. Class A | 795,160 | 50,437 | |||
* | Sunnova Energy International Inc. | 1,320,575 | 49,733 | |||
Ormat Technologies Inc. | 707,596 | 49,199 | ||||
Covanta Holding Corp. | 1,881,947 | 33,141 | ||||
California Water Service Group | 399,679 | 22,198 | ||||
511,049 | ||||||
Total Common Stocks (Cost $25,020,640) | 37,681,855 | |||||
Coupon | ||||||
Temporary Cash Investments (2.39%) | ||||||
Money Market Fund (2.39%) | ||||||
4,5 | Vanguard Market Liquidity Fund (Cost $902,938) | 0.056% | 9,030,335 | 903,033 | ||
Total Investments (102.00%) (Cost $25,923,578) | 38,584,888 | |||||
Other Assets and Liabilities—Net (-2.00%) | (754,819) | |||||
Net Assets (100%) | 37,830,069 |
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 $733,508,000. |
2 | Security value determined using significant unobservable inputs. |
3 | “Other” represents securities that are not classified by the fund’s benchmark index. |
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. |
5 | Collateral of $766,093,000 was received for securities on loan, of which $760,150,000 is held in Vanguard Market Liquidity Fund and $5,943,000 is held in cash. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Shares | Market Value ($000) | |||||
Common Stocks (99.72%) | ||||||
Basic Materials (5.91%) | ||||||
Steel Dynamics Inc. | 3,110,808 | 185,404 | ||||
Mosaic Co. | 5,301,033 | 169,156 | ||||
*,1 | Cleveland-Cliffs Inc. | 6,972,292 | 150,323 | |||
Reliance Steel & Aluminum Co. | 987,557 | 149,022 | ||||
Scotts Miracle-Gro Co. | 604,375 | 115,992 | ||||
Olin Corp. | 2,223,339 | 102,852 | ||||
* | Alcoa Corp. | 2,699,080 | 99,434 | |||
Valvoline Inc. | 2,810,898 | 91,242 | ||||
United States Steel Corp. | 3,761,232 | 90,269 | ||||
Chemours Co. | 2,565,423 | 89,277 | ||||
CF Industries Holdings Inc. | 1,662,391 | 85,530 | ||||
Timken Co. | 1,059,756 | 85,406 | ||||
Ashland Global Holdings Inc. | 940,868 | 82,326 | ||||
Huntsman Corp. | 3,092,644 | 82,017 | ||||
Element Solutions Inc. | 3,260,057 | 76,220 | ||||
W R Grace & Co. | 1,027,349 | 71,010 | ||||
Avient Corp. | 1,415,132 | 69,568 | ||||
UFP Industries Inc. | 910,762 | 67,706 | ||||
* | Univar Solutions Inc. | 2,628,706 | 64,088 | |||
Hecla Mining Co. | 8,302,014 | 61,767 | ||||
Commercial Metals Co. | 1,868,652 | 57,405 | ||||
Sensient Technologies Corp. | 655,757 | 56,762 | ||||
* | Arconic Corp. | 1,534,938 | 54,674 | |||
Cabot Corp. | 878,560 | 50,016 | ||||
* | Domtar Corp. | 779,976 | 42,867 | |||
Minerals Technologies Inc. | 523,692 | 41,199 | ||||
* | Hexcel Corp. | 648,873 | 40,490 | |||
Tronox Holdings plc Class A | 1,784,548 | 39,974 | ||||
Stepan Co. | 331,906 | 39,918 | ||||
Mueller Industries Inc. | 842,344 | 36,482 | ||||
Boise Cascade Co. | 610,912 | 35,647 | ||||
Innospec Inc. | 382,139 | 34,626 | ||||
Worthington Industries Inc. | 535,316 | 32,751 | ||||
* | Coeur Mining Inc. | 3,582,658 | 31,814 | |||
Compass Minerals International Inc. | 528,472 | 31,317 | ||||
Kaiser Aluminum Corp. | 246,326 | 30,419 | ||||
Carpenter Technology Corp. | 746,697 | 30,032 | ||||
Materion Corp. | 315,750 | 23,792 | ||||
Westlake Chemical Corp. | 247,789 | 22,323 | ||||
Schweitzer-Mauduit International Inc. | 485,453 | 19,603 | ||||
Schnitzer Steel Industries Inc. Class A | 379,341 | 18,607 | ||||
* | GCP Applied Technologies Inc. | 793,287 | 18,452 | |||
* | Kraton Corp. | 472,157 | 15,246 | |||
PQ Group Holdings Inc. | 845,936 | 12,994 | ||||
* | Koppers Holdings Inc. | 312,534 | 10,110 | |||
Glatfelter Corp. | 692,066 | 9,668 | ||||
* | Zymergen Inc. | 155,181 | 6,209 | |||
Tredegar Corp. | 443,312 | 6,104 | ||||
FutureFuel Corp. | 202,308 | 1,942 | ||||
*,1 | MP Materials Corp. | 645 | 24 | |||
2,840,076 | ||||||
Consumer Discretionary (16.37%) | ||||||
* | Tapestry Inc. | 4,324,343 | 188,022 | |||
Williams-Sonoma Inc. | 1,167,535 | 186,397 | ||||
* | Norwegian Cruise Line Holdings Ltd. | 5,738,289 | 168,763 | |||
Newell Brands Inc. | 5,933,409 | 162,991 | ||||
Lithia Motors Inc. Class A | 461,561 | 158,611 | ||||
Gap Inc. | 4,361,772 | 146,774 |
Shares | Market Value ($000) | |||||
Nielsen Holdings plc | 5,560,118 | 137,168 | ||||
Kohl's Corp. | 2,444,927 | 134,740 | ||||
* | Capri Holdings Ltd. | 2,347,207 | 134,237 | |||
Service Corp. International | 2,477,442 | 132,766 | ||||
L Brands Inc. | 1,730,519 | 124,701 | ||||
Polaris Inc. | 902,428 | 123,597 | ||||
* | PVH Corp. | 1,104,296 | 118,811 | |||
* | Alaska Air Group Inc. | 1,930,094 | 116,404 | |||
Harley-Davidson Inc. | 2,384,507 | 109,258 | ||||
* | Mattel Inc. | 5,409,983 | 108,741 | |||
* | American Airlines Group Inc. | 4,969,877 | 105,411 | |||
Toll Brothers Inc. | 1,815,062 | 104,929 | ||||
Leggett & Platt Inc. | 1,964,207 | 101,766 | ||||
* | BJ's Wholesale Club Holdings Inc. | 2,126,698 | 101,188 | |||
Hanesbrands Inc. | 5,416,823 | 101,132 | ||||
* | AutoNation Inc. | 1,061,443 | 100,635 | |||
* | Marriott Vacations Worldwide Corp. | 628,486 | 100,118 | |||
Interpublic Group of Cos. Inc. | 3,041,981 | 98,834 | ||||
* | GameStop Corp. Class A | 460,749 | 98,665 | |||
Foot Locker Inc. | 1,600,379 | 98,631 | ||||
New York Times Co. Class A | 2,199,462 | 95,787 | ||||
* | Terminix Global Holdings Inc. | 1,994,507 | 95,158 | |||
Thor Industries Inc. | 815,283 | 92,127 | ||||
* | Macy's Inc. | 4,832,362 | 91,622 | |||
Dick's Sporting Goods Inc. | 914,156 | 91,589 | ||||
American Eagle Outfitters Inc. | 2,332,254 | 87,529 | ||||
* | Helen of Troy Ltd. | 378,931 | 86,442 | |||
* | Deckers Outdoor Corp. | 218,352 | 83,862 | |||
* | JetBlue Airways Corp. | 4,905,492 | 82,314 | |||
Lear Corp. | 466,100 | 81,698 | ||||
AMERCO | 136,803 | 80,632 | ||||
* | Goodyear Tire & Rubber Co. | 4,326,517 | 74,200 | |||
Aramark | 1,975,298 | 73,580 | ||||
Qurate Retail Inc. Class A | 5,589,295 | 73,164 | ||||
Carter's Inc. | 647,340 | 66,786 | ||||
H&R Block Inc. | 2,812,391 | 66,035 | ||||
Wendy's Co. | 2,745,516 | 64,300 | ||||
TEGNA Inc. | 3,416,879 | 64,101 | ||||
* | Nordstrom Inc. | 1,725,078 | 63,086 | |||
* | Signet Jewelers Ltd. | 771,456 | 62,326 | |||
* | TripAdvisor Inc. | 1,539,417 | 62,038 | |||
* | Under Armour Inc. Class A | 2,931,298 | 61,997 | |||
* | Sabre Corp. | 4,953,815 | 61,824 | |||
* | Avis Budget Group Inc. | 758,156 | 59,053 | |||
* | Under Armour Inc. Class C | 3,078,466 | 57,167 | |||
KB Home | 1,356,656 | 55,243 | ||||
Dana Inc. | 2,253,204 | 53,536 | ||||
Murphy USA Inc. | 396,710 | 52,909 | ||||
* | Meritage Homes Corp. | 557,723 | 52,471 | |||
Wyndham Hotels & Resorts Inc. | 725,099 | 52,417 | ||||
* | Bed Bath & Beyond Inc. | 1,572,493 | 52,348 | |||
Rent-A-Center Inc. | 976,494 | 51,823 | ||||
* | Asbury Automotive Group Inc. | 299,997 | 51,410 | |||
* | Spirit Airlines Inc. | 1,680,790 | 51,163 | |||
PROG Holdings Inc. | 1,050,653 | 50,568 | ||||
* | Taylor Morrison Home Corp. Class A | 1,900,791 | 50,219 | |||
* | Hyatt Hotels Corp. Class A | 605,697 | 47,026 | |||
Kontoor Brands Inc. | 804,560 | 45,385 | ||||
* | Abercrombie & Fitch Co. Class A | 959,516 | 44,550 | |||
* | Coty Inc. Class A | 4,757,637 | 44,436 | |||
MDC Holdings Inc. | 872,988 | 44,173 |
Shares | Market Value ($000) | |||||
* | Brinker International Inc. | 710,216 | 43,927 | |||
Wolverine World Wide Inc. | 1,284,970 | 43,226 | ||||
Herman Miller Inc. | 915,760 | 43,169 | ||||
Ralph Lauren Corp. | 354,973 | 41,819 | ||||
Group 1 Automotive Inc. | 267,846 | 41,363 | ||||
Travel + Leisure Co. | 667,240 | 39,667 | ||||
* | Cheesecake Factory Inc. | 731,513 | 39,633 | |||
* | Tri Pointe Homes Inc. | 1,833,644 | 39,295 | |||
John Wiley & Sons Inc. Class A | 652,698 | 39,279 | ||||
* | Sally Beauty Holdings Inc. | 1,754,942 | 38,732 | |||
Penske Automotive Group Inc. | 501,800 | 37,881 | ||||
* | Urban Outfitters Inc. | 915,262 | 37,727 | |||
Graham Holdings Co. Class B | 59,492 | 37,712 | ||||
* | Bloomin' Brands Inc. | 1,380,399 | 37,464 | |||
* | ODP Corp. | 765,277 | 36,741 | |||
Big Lots Inc. | 545,254 | 35,992 | ||||
*,1 | Luminar Technologies Inc. Class A | 1,612,807 | 35,401 | |||
* | Cinemark Holdings Inc. | 1,577,317 | 34,622 | |||
* | KAR Auction Services Inc. | 1,938,278 | 34,017 | |||
* | SkyWest Inc. | 780,955 | 33,636 | |||
* | Lions Gate Entertainment Corp. Class B | 1,784,307 | 32,653 | |||
PriceSmart Inc. | 358,156 | 32,596 | ||||
* | Central Garden & Pet Co. Class A | 635,079 | 30,674 | |||
* | Cardlytics Inc. | 228,785 | 29,040 | |||
Rush Enterprises Inc. Class A | 660,678 | 28,568 | ||||
* | AMC Networks Inc. Class A | 427,368 | 28,548 | |||
* | Knowles Corp. | 1,442,529 | 28,475 | |||
HNI Corp. | 643,150 | 28,279 | ||||
Cracker Barrel Old Country Store Inc. | 183,586 | 27,255 | ||||
La-Z-Boy Inc. | 719,952 | 26,667 | ||||
* | Adtalem Global Education Inc. | 729,622 | 26,004 | |||
* | Meredith Corp. | 595,535 | 25,870 | |||
Acushnet Holdings Corp. | 516,850 | 25,532 | ||||
Steven Madden Ltd. | 578,563 | 25,318 | ||||
* | Tenneco Inc. Class A | 1,274,424 | 24,622 | |||
Oxford Industries Inc. | 248,530 | 24,565 | ||||
Sturm Ruger & Co. Inc. | 271,697 | 24,447 | ||||
* | Laureate Education Inc. Class A | 1,618,599 | 23,486 | |||
Buckle Inc. | 461,824 | 22,976 | ||||
*,1 | Fisker Inc. | 1,133,697 | 21,858 | |||
* | GoPro Inc. Class A | 1,837,931 | 21,412 | |||
* | Academy Sports & Outdoors Inc. | 506,978 | 20,908 | |||
* | G-III Apparel Group Ltd. | 635,654 | 20,888 | |||
* | iHeartMedia Inc. Class A | 775,645 | 20,888 | |||
* | Vista Outdoor Inc. | 448,167 | 20,741 | |||
Knoll Inc. | 785,834 | 20,424 | ||||
* | Lions Gate Entertainment Corp. Class A | 915,168 | 18,944 | |||
Steelcase Inc. Class A | 1,252,997 | 18,933 | ||||
* | At Home Group Inc. | 506,408 | 18,656 | |||
* | Hawaiian Holdings Inc. | 750,238 | 18,283 | |||
1 | Dillard's Inc. Class A | 96,792 | 17,508 | |||
* | American Axle & Manufacturing Holdings Inc. | 1,674,411 | 17,330 | |||
Aaron's Co. Inc. | 528,328 | 16,901 | ||||
* | BJ's Restaurants Inc. | 341,204 | 16,767 | |||
Matthews International Corp. Class A | 464,402 | 16,700 | ||||
* | Zumiez Inc. | 338,136 | 16,565 | |||
Guess? Inc. | 602,237 | 15,899 | ||||
* | Designer Brands Inc. Class A | 952,888 | 15,770 | |||
* | WW International Inc. | 403,149 | 14,570 | |||
Sonic Automotive Inc. Class A | 323,132 | 14,457 | ||||
* | Cars.com Inc. | 1,007,230 | 14,434 |
Shares | Market Value ($000) | |||||
* | Clear Channel Outdoor Holdings Inc. | 5,453,813 | 14,398 | |||
Interface Inc. Class A | 911,992 | 13,953 | ||||
Smith & Wesson Brands Inc. | 390,685 | 13,557 | ||||
Sinclair Broadcast Group Inc. Class A | 377,262 | 12,533 | ||||
* | Dine Brands Global Inc. | 126,135 | 11,258 | |||
*,1 | Canoo Inc. | 1,101,222 | 10,946 | |||
* | Children's Place Inc. | 107,723 | 10,025 | |||
*,1 | Lordstown Motors Corp. | 887,447 | 9,815 | |||
* | Stride Inc. | 304,758 | 9,792 | |||
*,1 | Cricut Inc. Class A | 228,591 | 9,738 | |||
Inter Parfums Inc. | 134,987 | 9,719 | ||||
* | elf Beauty Inc. | 356,189 | 9,667 | |||
Scholastic Corp. | 250,092 | 9,476 | ||||
* | Figs Inc. Class A | 177,648 | 8,900 | |||
* | Vizio Holding Corp. Class A | 328,413 | 8,870 | |||
Caleres Inc. | 281,229 | 7,675 | ||||
* | MSG Networks Inc. Class A | 499,704 | 7,286 | |||
*,1 | XL Fleet Corp. | 860,310 | 7,166 | |||
* | Central Garden & Pet Co. | 135,011 | 7,146 | |||
* | Genesco Inc. | 111,729 | 7,115 | |||
* | Latham Group Inc. | 185,828 | 5,939 | |||
Rush Enterprises Inc. Class B | 144,891 | 5,526 | ||||
* | El Pollo Loco Holdings Inc. | 291,213 | 5,326 | |||
Global Industrial Co. | 130,964 | 4,808 | ||||
* | Lands' End Inc. | 113,683 | 4,667 | |||
* | Frontier Group Holdings Inc. | 256,772 | 4,375 | |||
* | American Public Education Inc. | 137,747 | 3,904 | |||
*,1 | ThredUp Inc. Class A | 110,257 | 3,206 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 9,510 | 539 | |||
* | Mister Car Wash Inc. | 16,381 | 353 | |||
* | Integral Ad Science Holding Corp. | 8,276 | 170 | |||
* | Overstock.com Inc. | 435 | 40 | |||
* | Allegiant Travel Co. | 156 | 30 | |||
* | Sun Country Airlines Holdings Inc. | 187 | 7 | |||
* | Coursera Inc. | 142 | 6 | |||
* | Dream Finders Homes Inc. Class A | 189 | 5 | |||
* | ACV Auctions Inc. Class A | 177 | 5 | |||
7,865,039 | ||||||
Consumer Staples (3.27%) | ||||||
Bunge Ltd. | 2,083,835 | 162,852 | ||||
* | US Foods Holding Corp. | 3,098,160 | 118,845 | |||
* | Performance Food Group Co. | 2,073,665 | 100,552 | |||
Ingredion Inc. | 985,944 | 89,228 | ||||
* | Herbalife Nutrition Ltd. | 1,645,988 | 86,793 | |||
* | Darling Ingredients Inc. | 1,265,906 | 85,449 | |||
* | Molson Coors Beverage Co. Class B | 1,398,223 | 75,071 | |||
Flowers Foods Inc. | 2,954,139 | 71,490 | ||||
Spectrum Brands Holdings Inc. | 628,170 | 53,420 | ||||
* | Hain Celestial Group Inc. | 1,314,383 | 52,733 | |||
* | Grocery Outlet Holding Corp. | 1,336,739 | 46,331 | |||
Energizer Holdings Inc. | 1,060,731 | 45,590 | ||||
* | Sprouts Farmers Market Inc. | 1,832,408 | 45,535 | |||
Nu Skin Enterprises Inc. Class A | 776,478 | 43,987 | ||||
* | TreeHouse Foods Inc. | 872,425 | 38,840 | |||
Edgewell Personal Care Co. | 843,876 | 37,046 | ||||
1 | B&G Foods Inc. | 1,006,168 | 33,002 | |||
* | United Natural Foods Inc. | 874,700 | 32,346 | |||
Core-Mark Holding Co. Inc. | 701,768 | 31,587 | ||||
* | Hostess Brands Inc. Class A | 1,937,384 | 31,366 | |||
Sanderson Farms Inc. | 155,374 | 29,206 | ||||
Lancaster Colony Corp. | 149,897 | 29,007 |
Shares | Market Value ($000) | |||||
Vector Group Ltd. | 2,037,229 | 28,806 | ||||
Reynolds Consumer Products Inc. | 810,983 | 24,613 | ||||
Cal-Maine Foods Inc. | 612,789 | 22,189 | ||||
Universal Corp. | 359,594 | 20,486 | ||||
Fresh Del Monte Produce Inc. | 549,820 | 18,078 | ||||
* | Pilgrim's Pride Corp. | 755,041 | 16,747 | |||
Andersons Inc. | 462,028 | 14,106 | ||||
Seaboard Corp. | 3,574 | 13,827 | ||||
* | Rite Aid Corp. | 809,649 | 13,197 | |||
Weis Markets Inc. | 250,383 | 12,935 | ||||
ACCO Brands Corp. | 1,401,035 | 12,091 | ||||
* | Beauty Health Co. | 628,602 | 10,561 | |||
Tootsie Roll Industries Inc. | 247,383 | 8,389 | ||||
*,1 | AppHarvest Inc. | 464,917 | 7,439 | |||
* | Honest Co. Inc. | 212,123 | 3,434 | |||
* | Duckhorn Portfolio Inc. | 135,029 | 2,979 | |||
* | Hydrofarm Holdings Group Inc. | 146 | 9 | |||
1,570,162 | ||||||
Energy (5.38%) | ||||||
Diamondback Energy Inc. | 2,807,266 | 263,574 | ||||
Marathon Oil Corp. | 12,225,426 | 166,510 | ||||
Targa Resources Corp. | 3,545,959 | 157,618 | ||||
Devon Energy Corp. | 5,249,223 | 153,225 | ||||
* | First Solar Inc. | 1,484,045 | 134,321 | |||
Ovintiv Inc. | 4,049,465 | 127,437 | ||||
APA Corp. | 5,857,879 | 126,706 | ||||
Cimarex Energy Co. | 1,595,205 | 115,573 | ||||
* | EQT Corp. | 4,324,196 | 96,257 | |||
* | NOV Inc. | 6,054,257 | 92,751 | |||
Chesapeake Energy Corp. | 1,518,054 | 78,817 | ||||
HollyFrontier Corp. | 2,265,883 | 74,548 | ||||
* | Range Resources Corp. | 3,623,491 | 60,730 | |||
* | Antero Resources Corp. | 3,979,846 | 59,817 | |||
* | Southwestern Energy Co. | 10,496,428 | 59,515 | |||
Equitrans Midstream Corp. | 6,370,554 | 54,213 | ||||
Murphy Oil Corp. | 2,275,087 | 52,964 | ||||
Antero Midstream Corp. | 4,815,415 | 50,032 | ||||
Helmerich & Payne Inc. | 1,506,644 | 49,162 | ||||
Arcosa Inc. | 747,543 | 43,911 | ||||
* | Renewable Energy Group Inc. | 702,079 | 43,768 | |||
Continental Resources Inc. | 1,141,217 | 43,400 | ||||
*,1 | Transocean Ltd. | 9,110,021 | 41,177 | |||
* | CNX Resources Corp. | 2,905,427 | 39,688 | |||
* | SunPower Corp. | 1,339,985 | 39,154 | |||
* | California Resources Corp. | 1,163,112 | 35,056 | |||
*,1 | Stem Inc. | 879,195 | 31,660 | |||
World Fuel Services Corp. | 931,149 | 29,545 | ||||
Core Laboratories NV | 716,237 | 27,897 | ||||
Patterson-UTI Energy Inc. | 2,768,859 | 27,522 | ||||
* | PBF Energy Inc. Class A | 1,484,458 | 22,712 | |||
SM Energy Co. | 910,776 | 22,432 | ||||
Delek US Holdings Inc. | 1,027,843 | 22,222 | ||||
Archrock Inc. | 2,382,255 | 21,226 | ||||
*,1 | ChargePoint Holdings Inc. | 482,600 | 16,766 | |||
* | NOW Inc. | 1,704,605 | 16,177 | |||
* | Magnolia Oil & Gas Corp. Class A | 1,018,758 | 15,923 | |||
Warrior Met Coal Inc. | 795,067 | 13,675 | ||||
* | Arch Resources Inc. | 224,667 | 12,802 | |||
* | ProPetro Holding Corp. | 1,343,641 | 12,308 | |||
* | MRC Global Inc. | 1,211,942 | 11,392 | |||
CVR Energy Inc. | 471,427 | 8,467 |
Shares | Market Value ($000) | |||||
* | Helix Energy Solutions Group Inc. | 1,106,252 | 6,317 | |||
* | RPC Inc. | 1,011,459 | 5,007 | |||
* | ChampionX Corp. | 2,160 | 55 | |||
* | Oceaneering International Inc. | 1,068 | 17 | |||
* | Dril-Quip Inc. | 378 | 13 | |||
* | Whiting Petroleum Corp. Warrants Exp. 09/01/2025 | 699 | 4 | |||
* | Whiting Petroleum Corp. Class A Warrants Exp. 09/01/2024 | 196 | 1 | |||
2,584,064 | ||||||
Financials (21.23%) | ||||||
Signature Bank | 893,190 | 219,412 | ||||
Apollo Global Management Inc. | 3,242,269 | 201,669 | ||||
Brown & Brown Inc. | 3,713,746 | 197,348 | ||||
Invesco Ltd. | 6,439,298 | 172,122 | ||||
LPL Financial Holdings Inc. | 1,177,642 | 158,958 | ||||
East West Bancorp Inc. | 2,199,461 | 157,679 | ||||
Comerica Inc. | 2,164,893 | 154,443 | ||||
Ares Management Corp. Class A | 2,391,112 | 152,051 | ||||
First Horizon Corp. | 8,565,801 | 148,017 | ||||
Assurant Inc. | 939,390 | 146,714 | ||||
Carlyle Group Inc. | 3,023,740 | 140,543 | ||||
American Financial Group Inc. | 1,121,892 | 139,922 | ||||
Zions Bancorp NA | 2,540,770 | 134,305 | ||||
* | Athene Holding Ltd. Class A | 1,932,818 | 130,465 | |||
Commerce Bancshares Inc. | 1,633,776 | 121,814 | ||||
Reinsurance Group of America Inc. | 1,054,211 | 120,180 | ||||
Voya Financial Inc. | 1,880,038 | 115,622 | ||||
RenaissanceRe Holdings Ltd. | 770,060 | 114,600 | ||||
People's United Financial Inc. | 6,633,236 | 113,694 | ||||
Old Republic International Corp. | 4,491,351 | 111,880 | ||||
Starwood Property Trust Inc. | 4,231,261 | 110,732 | ||||
SLM Corp. | 5,003,564 | 104,775 | ||||
Janus Henderson Group plc | 2,673,953 | 103,776 | ||||
First Financial Bankshares Inc. | 2,097,434 | 103,047 | ||||
First American Financial Corp. | 1,617,795 | 100,870 | ||||
Stifel Financial Corp. | 1,548,857 | 100,459 | ||||
Cullen/Frost Bankers Inc. | 887,661 | 99,418 | ||||
Prosperity Bancshares Inc. | 1,370,103 | 98,373 | ||||
Jefferies Financial Group Inc. | 2,869,305 | 98,130 | ||||
Synovus Financial Corp. | 2,190,846 | 96,134 | ||||
Affiliated Managers Group Inc. | 612,833 | 94,505 | ||||
Primerica Inc. | 611,834 | 93,696 | ||||
South State Corp. | 1,101,251 | 90,038 | ||||
Lincoln National Corp. | 1,403,069 | 88,169 | ||||
Popular Inc. | 1,143,975 | 85,855 | ||||
Valley National Bancorp | 6,290,087 | 84,476 | ||||
Glacier Bancorp Inc. | 1,480,361 | 81,538 | ||||
OneMain Holdings Inc. | 1,354,922 | 81,173 | ||||
Unum Group | 2,848,229 | 80,890 | ||||
Bank OZK | 1,898,758 | 80,052 | ||||
CIT Group Inc. | 1,535,546 | 79,219 | ||||
Evercore Inc. Class A | 539,584 | 75,957 | ||||
Selective Insurance Group Inc. | 930,362 | 75,499 | ||||
Lazard Ltd. Class A | 1,660,418 | 75,134 | ||||
Webster Financial Corp. | 1,401,675 | 74,765 | ||||
PacWest Bancorp | 1,812,816 | 74,616 | ||||
New York Community Bancorp Inc. | 6,749,513 | 74,380 | ||||
Sterling Bancorp | 2,984,222 | 73,979 | ||||
First Citizens BancShares Inc. Class A | 88,782 | 73,932 | ||||
United Bankshares Inc. | 2,002,343 | 73,086 | ||||
New Residential Investment Corp. | 6,872,391 | 72,779 | ||||
MGIC Investment Corp. | 5,262,977 | 71,576 |
Shares | Market Value ($000) | |||||
Kemper Corp. | 951,016 | 70,280 | ||||
RLI Corp. | 665,895 | 69,646 | ||||
Blackstone Mortgage Trust Inc. Class A | 2,166,021 | 69,074 | ||||
AGNC Investment Corp. | 4,069,218 | 68,729 | ||||
Hanover Insurance Group Inc. | 501,051 | 67,963 | ||||
Western Alliance Bancorp | 722,418 | 67,077 | ||||
Wintrust Financial Corp. | 884,141 | 66,868 | ||||
UMB Financial Corp. | 711,341 | 66,197 | ||||
Radian Group Inc. | 2,966,765 | 66,011 | ||||
Community Bank System Inc. | 835,572 | 63,211 | ||||
Umpqua Holdings Corp. | 3,421,074 | 63,119 | ||||
SEI Investments Co. | 996,512 | 61,754 | ||||
BankUnited Inc. | 1,445,567 | 61,711 | ||||
FNB Corp. | 4,946,721 | 60,993 | ||||
* | Brighthouse Financial Inc. | 1,329,711 | 60,555 | |||
Hancock Whitney Corp. | 1,346,420 | 59,835 | ||||
Axis Capital Holdings Ltd. | 1,182,688 | 57,964 | ||||
First Hawaiian Inc. | 2,021,797 | 57,298 | ||||
Home BancShares Inc. | 2,300,342 | 56,772 | ||||
Moelis & Co. Class A | 951,157 | 54,111 | ||||
Chimera Investment Corp. | 3,574,422 | 53,831 | ||||
Eastern Bankshares Inc. | 2,607,621 | 53,639 | ||||
Bank of Hawaii Corp. | 626,646 | 52,776 | ||||
Assured Guaranty Ltd. | 1,111,264 | 52,763 | ||||
White Mountains Insurance Group Ltd. | 45,788 | 52,566 | ||||
Navient Corp. | 2,645,986 | 51,147 | ||||
* | Texas Capital Bancshares Inc. | 784,767 | 49,825 | |||
Investors Bancorp Inc. | 3,459,105 | 49,327 | ||||
Federated Hermes Inc. Class B | 1,452,459 | 49,253 | ||||
Artisan Partners Asset Management Inc. Class A | 955,407 | 48,554 | ||||
* | Enstar Group Ltd. | 201,877 | 48,232 | |||
CNO Financial Group Inc. | 2,040,076 | 48,187 | ||||
Simmons First National Corp. Class A | 1,595,974 | 46,826 | ||||
Walker & Dunlop Inc. | 444,300 | 46,376 | ||||
FirstCash Inc. | 604,814 | 46,232 | ||||
Cathay General Bancorp | 1,174,420 | 46,225 | ||||
Associated Banc-Corp | 2,251,404 | 46,109 | ||||
Atlantic Union Bankshares Corp. | 1,224,930 | 44,367 | ||||
BancorpSouth Bank | 1,544,386 | 43,752 | ||||
Old National Bancorp | 2,453,698 | 43,210 | ||||
United Community Banks Inc. | 1,346,271 | 43,094 | ||||
American Equity Investment Life Holding Co. | 1,333,018 | 43,083 | ||||
Columbia Banking System Inc. | 1,112,962 | 42,916 | ||||
CVB Financial Corp. | 2,003,748 | 41,257 | ||||
First Bancorp | 3,351,016 | 39,944 | ||||
Fulton Financial Corp. | 2,522,197 | 39,800 | ||||
Cadence Bancorp Class A | 1,839,106 | 38,401 | ||||
International Bancshares Corp. | 885,154 | 38,009 | ||||
Essent Group Ltd. | 832,847 | 37,436 | ||||
BOK Financial Corp. | 432,058 | 37,416 | ||||
Independent Bank Corp. (Massachusetts) | 487,263 | 36,788 | ||||
* | Axos Financial Inc. | 781,883 | 36,272 | |||
Washington Federal Inc. | 1,124,424 | 35,734 | ||||
WesBanco Inc. | 992,076 | 35,348 | ||||
First Midwest Bancorp Inc. | 1,774,443 | 35,187 | ||||
First Merchants Corp. | 843,876 | 35,164 | ||||
Hilltop Holdings Inc. | 959,836 | 34,938 | ||||
Piper Sandler Cos. | 269,342 | 34,896 | ||||
Apollo Commercial Real Estate Finance Inc. | 2,167,514 | 34,572 | ||||
Santander Consumer USA Holdings Inc. | 951,228 | 34,549 | ||||
Flagstar Bancorp Inc. | 816,091 | 34,496 |
Shares | Market Value ($000) | |||||
WSFS Financial Corp. | 735,223 | 34,254 | ||||
First Financial Bancorp | 1,434,242 | 33,891 | ||||
Renasant Corp. | 830,485 | 33,219 | ||||
Houlihan Lokey Inc. Class A | 397,294 | 32,495 | ||||
Two Harbors Investment Corp. | 4,248,246 | 32,117 | ||||
PennyMac Mortgage Investment Trust | 1,516,911 | 31,946 | ||||
PennyMac Financial Services Inc. | 516,345 | 31,869 | ||||
MFA Financial Inc. | 6,850,146 | 31,442 | ||||
Virtus Investment Partners Inc. | 112,345 | 31,206 | ||||
Towne Bank | 1,014,137 | 30,850 | ||||
* | Genworth Financial Inc. Class A | 7,875,256 | 30,714 | |||
BGC Partners Inc. Class A | 5,259,856 | 29,823 | ||||
Great Western Bancorp Inc. | 852,243 | 27,945 | ||||
Banner Corp. | 514,063 | 27,867 | ||||
Eagle Bancorp Inc. | 496,554 | 27,847 | ||||
Mercury General Corp. | 428,206 | 27,812 | ||||
Trustmark Corp. | 886,232 | 27,296 | ||||
Park National Corp. | 227,304 | 26,690 | ||||
Argo Group International Holdings Ltd. | 513,945 | 26,638 | ||||
* | PRA Group Inc. | 673,019 | 25,891 | |||
Hope Bancorp Inc. | 1,823,608 | 25,859 | ||||
Northwest Bancshares Inc. | 1,879,709 | 25,639 | ||||
First Interstate BancSystem Inc. Class A | 610,461 | 25,536 | ||||
Provident Financial Services Inc. | 1,085,134 | 24,839 | ||||
Capitol Federal Financial Inc. | 2,050,584 | 24,156 | ||||
Horace Mann Educators Corp. | 644,912 | 24,133 | ||||
BancFirst Corp. | 380,082 | 23,729 | ||||
Westamerica Bancorp | 397,097 | 23,044 | ||||
NBT Bancorp Inc. | 639,896 | 23,017 | ||||
* | Cannae Holdings Inc. | 673,723 | 22,846 | |||
* | Encore Capital Group Inc. | 479,687 | 22,732 | |||
1 | iStar Inc. | 1,087,060 | 22,535 | |||
* | SiriusPoint Ltd. | 2,134,068 | 21,490 | |||
First Commonwealth Financial Corp. | 1,485,026 | 20,894 | ||||
Broadmark Realty Capital Inc. | 1,958,644 | 20,742 | ||||
Berkshire Hills Bancorp Inc. | 751,956 | 20,611 | ||||
Ladder Capital Corp. | 1,770,025 | 20,426 | ||||
S&T Bancorp Inc. | 607,563 | 19,017 | ||||
ProAssurance Corp. | 833,745 | 18,968 | ||||
Boston Private Financial Holdings Inc. | 1,274,921 | 18,805 | ||||
American National Group Inc. | 124,566 | 18,504 | ||||
Employers Holdings Inc. | 418,573 | 17,915 | ||||
OFG Bancorp | 798,053 | 17,653 | ||||
City Holding Co. | 231,864 | 17,445 | ||||
Safety Insurance Group Inc. | 219,929 | 17,216 | ||||
1 | Invesco Mortgage Capital Inc. | 4,402,120 | 17,168 | |||
Brookline Bancorp Inc. | 1,146,511 | 17,140 | ||||
Nelnet Inc. Class A | 211,419 | 15,905 | ||||
Tompkins Financial Corp. | 197,487 | 15,317 | ||||
Heartland Financial USA Inc. | 292,852 | 13,761 | ||||
* | LendingClub Corp. | 751,908 | 13,632 | |||
KKR Real Estate Finance Trust Inc. | 603,888 | 13,062 | ||||
ARMOUR Residential REIT Inc. | 1,100,222 | 12,565 | ||||
* | Blucora Inc. | 710,667 | 12,302 | |||
BrightSpire Capital Inc. | 1,302,273 | 12,241 | ||||
WisdomTree Investments Inc. | 1,965,110 | 12,184 | ||||
TPG RE Finance Trust Inc. | 893,090 | 12,012 | ||||
* | Columbia Financial Inc. | 670,384 | 11,544 | |||
* | Ambac Financial Group Inc. | 713,281 | 11,170 | |||
Northfield Bancorp Inc. | 672,398 | 11,027 | ||||
* | World Acceptance Corp. | 68,394 | 10,959 |
Shares | Market Value ($000) | |||||
Central Pacific Financial Corp. | 415,239 | 10,821 | ||||
National Western Life Group Inc. Class A | 47,992 | 10,769 | ||||
Redwood Trust Inc. | 870,066 | 10,502 | ||||
StepStone Group Inc. Class A | 297,529 | 10,235 | ||||
United Fire Group Inc. | 368,234 | 10,211 | ||||
Capstead Mortgage Corp. | 1,418,290 | 8,708 | ||||
*,1 | MetroMile Inc. | 730,365 | 6,683 | |||
Granite Point Mortgage Trust Inc. | 430,697 | 6,353 | ||||
*,1 | Romeo Power Inc. | 659,342 | 5,367 | |||
State Auto Financial Corp. | 275,249 | 4,712 | ||||
* | AssetMark Financial Holdings Inc. | 144,007 | 3,609 | |||
1 | GCM Grosvenor Inc. Class A | 263,973 | 2,751 | |||
Associated Capital Group Inc. Class A | 27,524 | 1,070 | ||||
loanDepot Inc. Class A | 29,637 | 381 | ||||
* | Open Lending Corp. Class A | 1,236 | 53 | |||
* | Lemonade Inc. | 326 | 36 | |||
* | Oscar Health Inc. Class A | 435 | 9 | |||
*,2 | Frontier Financial Corp. | 2 | — | |||
10,197,953 | ||||||
Health Care (6.72%) | ||||||
* | Molina Healthcare Inc. | 905,392 | 229,118 | |||
* | Novavax Inc. | 999,024 | 212,103 | |||
* | Jazz Pharmaceuticals plc | 894,247 | 158,854 | |||
* | United Therapeutics Corp. | 694,826 | 124,659 | |||
Encompass Health Corp. | 1,543,884 | 120,469 | ||||
* | Organon & Co. | 3,927,483 | 118,846 | |||
* | Mirati Therapeutics Inc. | 717,527 | 115,902 | |||
* | Tenet Healthcare Corp. | 1,656,869 | 110,994 | |||
* | Bridgebio Pharma Inc. | 1,784,373 | 108,775 | |||
* | Envista Holdings Corp. | 2,494,254 | 107,777 | |||
* | Pacific Biosciences of California Inc. | 2,920,759 | 102,139 | |||
Perrigo Co. plc | 2,071,812 | 94,993 | ||||
* | Acadia Healthcare Co. Inc. | 1,390,409 | 87,248 | |||
* | TG Therapeutics Inc. | 1,973,381 | 76,547 | |||
Select Medical Holdings Corp. | 1,672,077 | 70,662 | ||||
Premier Inc. Class A | 1,801,019 | 62,657 | ||||
Hill-Rom Holdings Inc. | 515,470 | 58,552 | ||||
* | Reata Pharmaceuticals Inc. Class A | 413,507 | 58,524 | |||
* | Iovance Biotherapeutics Inc. | 2,015,906 | 52,454 | |||
* | Integer Holdings Corp. | 511,592 | 48,192 | |||
* | Denali Therapeutics Inc. | 610,222 | 47,866 | |||
Owens & Minor Inc. | 1,106,765 | 46,849 | ||||
* | Turning Point Therapeutics Inc. | 571,967 | 44,625 | |||
* | Kodiak Sciences Inc. | 477,525 | 44,410 | |||
Patterson Cos. Inc. | 1,349,679 | 41,017 | ||||
* | Prestige Consumer Healthcare Inc. | 774,174 | 40,334 | |||
* | Karuna Therapeutics Inc. | 342,782 | 39,074 | |||
* | MEDNAX Inc. | 1,271,473 | 38,335 | |||
Healthcare Services Group Inc. | 1,160,714 | 36,644 | ||||
* | Myriad Genetics Inc. | 1,136,562 | 34,756 | |||
* | Magellan Health Inc. | 365,272 | 34,409 | |||
* | Surgery Partners Inc. | 512,223 | 34,124 | |||
* | Outset Medical Inc. | 678,720 | 33,922 | |||
* | American Well Corp. Class A | 2,592,722 | 32,616 | |||
CONMED Corp. | 224,985 | 30,920 | ||||
* | Privia Health Group Inc. | 683,837 | 30,342 | |||
* | Axsome Therapeutics Inc. | 435,710 | 29,393 | |||
* | Avanos Medical Inc. | 743,460 | 27,040 | |||
* | Multiplan Corp. | 2,582,608 | 24,586 | |||
* | Brookdale Senior Living Inc. | 2,863,545 | 22,622 | |||
*,1 | Atea Pharmaceuticals Inc. | 894,828 | 19,221 |
Shares | Market Value ($000) | |||||
* | Kymera Therapeutics Inc. | 382,906 | 18,571 | |||
* | Madrigal Pharmaceuticals Inc. | 179,292 | 17,465 | |||
* | Tivity Health Inc. | 647,655 | 17,040 | |||
* | Varex Imaging Corp. | 607,490 | 16,293 | |||
* | Endo International plc | 3,428,128 | 16,044 | |||
*,1 | Butterfly Network Inc. | 1,083,145 | 15,684 | |||
* | ALX Oncology Holdings Inc. | 279,880 | 15,304 | |||
* | Meridian Bioscience Inc. | 670,008 | 14,861 | |||
* | NextGen Healthcare Inc. | 832,948 | 13,819 | |||
National HealthCare Corp. | 190,506 | 13,316 | ||||
* | Aerie Pharmaceuticals Inc. | 726,063 | 11,624 | |||
* | OPKO Health Inc. | 2,863,181 | 11,596 | |||
*,1 | Clover Health Investments Corp. | 862,803 | 11,492 | |||
* | Doximity Inc. Class A | 180,729 | 10,518 | |||
*,1 | Nuvation Bio Inc. | 1,092,603 | 10,172 | |||
* | Forma Therapeutics Holdings Inc. | 402,561 | 10,020 | |||
* | Stoke Therapeutics Inc. | 284,437 | 9,574 | |||
* | Amneal Pharmaceuticals Inc. | 1,837,596 | 9,408 | |||
*,1 | Hims & Hers Health Inc. | 850,572 | 9,263 | |||
Phibro Animal Health Corp. Class A | 317,311 | 9,164 | ||||
* | Recursion Pharmaceuticals Inc. Class A | 245,372 | 8,956 | |||
* | Praxis Precision Medicines Inc. | 472,109 | 8,630 | |||
* | Allovir Inc. | 404,398 | 7,983 | |||
* | LifeStance Health Group Inc. | 285,641 | 7,958 | |||
*,1 | Cerevel Therapeutics Holdings Inc. | 302,626 | 7,753 | |||
* | Zogenix Inc. | 430,766 | 7,444 | |||
* | Olema Pharmaceuticals Inc. | 247,587 | 6,927 | |||
* | Immunovant Inc. | 610,101 | 6,449 | |||
* | Kiniksa Pharmaceuticals Ltd. Class A | 427,132 | 5,950 | |||
* | G1 Therapeutics Inc. | 264,666 | 5,807 | |||
* | Agiliti Inc. | 251,695 | 5,505 | |||
* | Silverback Therapeutics Inc. | 161,606 | 4,992 | |||
* | Aveanna Healthcare Holdings Inc. | 355,652 | 4,399 | |||
* | AnaptysBio Inc. | 147,995 | 3,837 | |||
* | NGM Biopharmaceuticals Inc. | 178,486 | 3,520 | |||
* | Harmony Biosciences Holdings Inc. | 109,771 | 3,099 | |||
* | Lyell Immunopharma Inc. | 188,185 | 3,056 | |||
* | Treace Medical Concepts Inc. | 81,389 | 2,544 | |||
* | Singular Genomics Systems Inc. | 83,828 | 2,304 | |||
* | Black Diamond Therapeutics Inc. | 181,051 | 2,207 | |||
*,1 | Design Therapeutics Inc. | 107,213 | 2,132 | |||
* | Day One Biopharmaceuticals Inc. | 67,924 | 1,547 | |||
* | Bright Health Group Inc. | 49,145 | 843 | |||
PerkinElmer Inc. | 1,205 | 186 | ||||
STERIS plc | 513 | 106 | ||||
* | 10X Genomics Inc. Class A | 390 | 76 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 926 | 39 | |||
* | Sage Therapeutics Inc. | 567 | 32 | |||
* | SpringWorks Therapeutics Inc. | 298 | 24 | |||
* | Certara Inc. | 411 | 12 | |||
* | Vaxcyte Inc. | 357 | 8 | |||
* | Signify Health Inc. Class A | 267 | 8 | |||
* | Alignment Healthcare Inc. | 302 | 7 | |||
* | Pulmonx Corp. | 135 | 6 | |||
* | Sana Biotechnology Inc. | 302 | 6 | |||
* | Innovage Holding Corp. | 220 | 5 | |||
* | Instil Bio Inc. | 201 | 4 | |||
* | Vor BioPharma Inc. | 99 | 2 | |||
*,1,2 | Synergy Pharmaceuticals LLC | 1,169,882 | — | |||
3,228,161 |
Shares | Market Value ($000) | |||||
Industrials (19.81%) | ||||||
IDEX Corp. | 1,177,247 | 259,053 | ||||
* | Howmet Aerospace Inc. | 6,061,554 | 208,942 | |||
Quanta Services Inc. | 2,161,168 | 195,737 | ||||
Allegion plc | 1,394,709 | 194,283 | ||||
Booz Allen Hamilton Holding Corp. Class A | 2,100,021 | 178,880 | ||||
RPM International Inc. | 2,007,995 | 178,069 | ||||
Pentair plc | 2,577,056 | 173,926 | ||||
Owens Corning | 1,619,675 | 158,566 | ||||
Carlisle Cos. Inc. | 809,242 | 154,873 | ||||
Robert Half International Inc. | 1,661,586 | 147,831 | ||||
* | AECOM | 2,270,040 | 143,739 | |||
AptarGroup Inc. | 1,018,822 | 143,491 | ||||
* | Sensata Technologies Holding plc | 2,452,643 | 142,180 | |||
Sealed Air Corp. | 2,356,672 | 139,633 | ||||
* | Builders FirstSource Inc. | 3,213,357 | 137,082 | |||
Oshkosh Corp. | 1,064,558 | 132,686 | ||||
Huntington Ingalls Industries Inc. | 624,124 | 131,534 | ||||
Donaldson Co. Inc. | 1,956,366 | 124,288 | ||||
ITT Inc. | 1,335,501 | 122,319 | ||||
AGCO Corp. | 935,068 | 121,914 | ||||
Lincoln Electric Holdings Inc. | 923,691 | 121,659 | ||||
Brunswick Corp. | 1,208,558 | 120,397 | ||||
* | XPO Logistics Inc. | 752,509 | 105,268 | |||
Knight-Swift Transportation Holdings Inc. Class A | 2,311,130 | 105,064 | ||||
* | Axalta Coating Systems Ltd. | 3,434,039 | 104,704 | |||
Sonoco Products Co. | 1,561,114 | 104,439 | ||||
EMCOR Group Inc. | 846,351 | 104,262 | ||||
Acuity Brands Inc. | 553,375 | 103,498 | ||||
Tetra Tech Inc. | 839,455 | 102,447 | ||||
ManpowerGroup Inc. | 845,915 | 100,588 | ||||
MDU Resources Group Inc. | 3,122,193 | 97,850 | ||||
Louisiana-Pacific Corp. | 1,585,201 | 95,572 | ||||
* | MasTec Inc. | 863,562 | 91,624 | |||
MSA Safety Inc. | 546,249 | 90,448 | ||||
Rexnord Corp. | 1,762,294 | 88,185 | ||||
Vontier Corp. | 2,616,007 | 85,229 | ||||
Regal Beloit Corp. | 629,556 | 84,052 | ||||
KBR Inc. | 2,190,452 | 83,566 | ||||
* | Mohawk Industries Inc. | 432,618 | 83,145 | |||
* | Colfax Corp. | 1,786,176 | 81,825 | |||
Flowserve Corp. | 2,019,733 | 81,436 | ||||
nVent Electric plc | 2,598,301 | 81,171 | ||||
* | WESCO International Inc. | 777,679 | 79,961 | |||
Graphic Packaging Holding Co. | 4,405,334 | 79,913 | ||||
Hubbell Inc. Class B | 421,023 | 78,664 | ||||
Valmont Industries Inc. | 329,345 | 77,742 | ||||
Spirit AeroSystems Holdings Inc. Class A | 1,634,488 | 77,131 | ||||
Curtiss-Wright Corp. | 634,422 | 75,344 | ||||
* | Middleby Corp. | 431,304 | 74,728 | |||
* | FTI Consulting Inc. | 530,402 | 72,458 | |||
Crane Co. | 769,697 | 71,097 | ||||
Air Lease Corp. Class A | 1,680,386 | 70,139 | ||||
Allison Transmission Holdings Inc. | 1,698,503 | 67,498 | ||||
* | Resideo Technologies Inc. | 2,230,080 | 66,902 | |||
Altra Industrial Motion Corp. | 1,004,723 | 65,327 | ||||
EnerSys | 664,583 | 64,950 | ||||
* | Summit Materials Inc. Class A | 1,808,853 | 63,039 | |||
Watts Water Technologies Inc. Class A | 427,162 | 62,327 | ||||
MSC Industrial Direct Co. Inc. Class A | 692,450 | 62,134 | ||||
Korn Ferry | 837,323 | 60,748 |
Shares | Market Value ($000) | |||||
Brink's Co. | 771,670 | 59,295 | ||||
Ryder System Inc. | 793,714 | 58,997 | ||||
Woodward Inc. | 468,212 | 57,534 | ||||
* | Kirby Corp. | 931,911 | 56,511 | |||
Alliance Data Systems Corp. | 532,204 | 55,450 | ||||
UniFirst Corp. | 236,277 | 55,440 | ||||
Applied Industrial Technologies Inc. | 602,644 | 54,877 | ||||
Triton International Ltd. | 1,045,116 | 54,701 | ||||
Silgan Holdings Inc. | 1,283,989 | 53,286 | ||||
* | Atkore Inc. | 728,792 | 51,744 | |||
HB Fuller Co. | 807,884 | 51,389 | ||||
Terex Corp. | 1,028,773 | 48,990 | ||||
EVERTEC Inc. | 1,119,414 | 48,862 | ||||
GATX Corp. | 549,057 | 48,575 | ||||
Kennametal Inc. | 1,297,214 | 46,596 | ||||
Hillenbrand Inc. | 1,050,576 | 46,309 | ||||
* | Beacon Roofing Supply Inc. | 867,337 | 46,186 | |||
ABM Industries Inc. | 1,040,600 | 46,151 | ||||
*,3 | API Group Corp. | 2,185,806 | 45,661 | |||
Macquarie Infrastructure Corp. | 1,156,181 | 44,247 | ||||
* | Herc Holdings Inc. | 390,661 | 43,781 | |||
Matson Inc. | 674,132 | 43,144 | ||||
SPX FLOW Inc. | 655,064 | 42,736 | ||||
* | Allegheny Technologies Inc. | 1,974,282 | 41,164 | |||
* | SPX Corp. | 667,338 | 40,761 | |||
Brady Corp. Class A | 715,388 | 40,090 | ||||
* | O-I Glass Inc. | 2,451,455 | 40,032 | |||
Werner Enterprises Inc. | 896,469 | 39,911 | ||||
Armstrong World Industries Inc. | 371,768 | 39,876 | ||||
* | Fluor Corp. | 2,194,946 | 38,851 | |||
Trinity Industries Inc. | 1,442,349 | 38,785 | ||||
Barnes Group Inc. | 746,885 | 38,278 | ||||
Moog Inc. Class A | 454,174 | 38,178 | ||||
* | Green Dot Corp. Class A | 803,073 | 37,624 | |||
ManTech International Corp. Class A | 425,675 | 36,838 | ||||
ESCO Technologies Inc. | 384,176 | 36,040 | ||||
Belden Inc. | 694,958 | 35,144 | ||||
* | JELD-WEN Holding Inc. | 1,309,246 | 34,381 | |||
* | Navistar International Corp. | 771,953 | 34,352 | |||
* | Sykes Enterprises Inc. | 617,810 | 33,176 | |||
* | Hub Group Inc. Class A | 498,221 | 32,873 | |||
Otter Tail Corp. | 645,118 | 31,488 | ||||
Deluxe Corp. | 656,058 | 31,340 | ||||
EnPro Industries Inc. | 319,921 | 31,080 | ||||
McGrath RentCorp | 376,362 | 30,700 | ||||
* | Atlas Air Worldwide Holdings Inc. | 450,595 | 30,690 | |||
* | GMS Inc. | 629,383 | 30,298 | |||
TTEC Holdings Inc. | 289,559 | 29,851 | ||||
Granite Construction Inc. | 711,521 | 29,549 | ||||
* | Ferro Corp. | 1,284,746 | 27,712 | |||
* | OSI Systems Inc. | 265,543 | 26,990 | |||
* | Meritor Inc. | 1,122,494 | 26,289 | |||
ADT Inc. | 2,367,829 | 25,549 | ||||
Greif Inc. Class A | 387,687 | 23,474 | ||||
Primoris Services Corp. | 789,223 | 23,227 | ||||
Encore Wire Corp. | 302,865 | 22,954 | ||||
* | Welbilt Inc. | 989,346 | 22,903 | |||
Kaman Corp. | 432,515 | 21,799 | ||||
ArcBest Corp. | 372,924 | 21,700 | ||||
Griffon Corp. | 832,024 | 21,325 | ||||
Albany International Corp. Class A | 237,303 | 21,182 |
Shares | Market Value ($000) | |||||
Maxar Technologies Inc. | 527,973 | 21,077 | ||||
Comfort Systems USA Inc. | 266,902 | 21,029 | ||||
Astec Industries Inc. | 333,806 | 21,010 | ||||
AZZ Inc. | 390,586 | 20,225 | ||||
* | TriMas Corp. | 666,811 | 20,224 | |||
* | AAR Corp. | 518,544 | 20,094 | |||
Kforce Inc. | 306,400 | 19,282 | ||||
Greenbrier Cos. Inc. | 431,423 | 18,801 | ||||
* | Conduent Inc. | 2,462,415 | 18,468 | |||
Standex International Corp. | 190,982 | 18,126 | ||||
Schneider National Inc. Class B | 803,191 | 17,485 | ||||
* | Huron Consulting Group Inc. | 351,989 | 17,300 | |||
* | Dycom Industries Inc. | 225,754 | 16,825 | |||
H&E Equipment Services Inc. | 475,782 | 15,829 | ||||
Apogee Enterprises Inc. | 380,999 | 15,518 | ||||
* | TrueBlue Inc. | 547,979 | 15,404 | |||
*,1 | PureCycle Technologies Inc. | 618,524 | 14,628 | |||
* | Advantage Solutions Inc. | 1,224,246 | 13,210 | |||
Quanex Building Products Corp. | 519,200 | 12,897 | ||||
* | Kelly Services Inc. Class A | 527,375 | 12,641 | |||
*,1 | Desktop Metal Inc. Class A | 1,087,625 | 12,508 | |||
* | Danimer Scientific Inc. | 496,133 | 12,428 | |||
Enerpac Tool Group Corp. Class A | 464,880 | 12,375 | ||||
* | Gates Industrial Corp. plc | 681,275 | 12,311 | |||
Wabash National Corp. | 756,029 | 12,096 | ||||
Hyster-Yale Materials Handling Inc. | 160,677 | 11,726 | ||||
* | BTRS Holdings Inc. | 924,013 | 11,661 | |||
* | BrightView Holdings Inc. | 653,229 | 10,530 | |||
* | CIRCOR International Inc. | 312,927 | 10,201 | |||
* | ZipRecruiter Inc. Class A | 399,511 | 9,980 | |||
* | Triumph Group Inc. | 471,817 | 9,790 | |||
*,1 | Hyliion Holdings Corp. | 799,779 | 9,317 | |||
* | Tutor Perini Corp. | 634,990 | 8,795 | |||
* | Vivint Smart Home Inc. | 644,823 | 8,512 | |||
National Presto Industries Inc. | 82,474 | 8,383 | ||||
REV Group Inc. | 503,594 | 7,901 | ||||
*,1 | Velodyne Lidar Inc. | 733,076 | 7,800 | |||
*,1 | View Inc. | 753,585 | 6,390 | |||
Heartland Express Inc. | 369,266 | 6,326 | ||||
Greif Inc. Class B | 104,087 | 6,141 | ||||
Gorman-Rupp Co. | 163,226 | 5,621 | ||||
Kronos Worldwide Inc. | 362,699 | 5,194 | ||||
International Seaways Inc. | 192,504 | 3,692 | ||||
* | First Advantage Corp. | 176,735 | 3,519 | |||
* | TaskUS Inc. Class A | 94,905 | 3,250 | |||
* | Latch Inc. | 243,051 | 2,982 | |||
* | Paymentus Holdings Inc. Class A | 79,885 | 2,836 | |||
* | Flywire Corp. | 76,309 | 2,804 | |||
* | Legalzoom.com Inc. | 8,271 | 313 | |||
* | Nikola Corp. | 1,862 | 34 | |||
* | TuSimple Holdings Inc. Class A | 411 | 29 | |||
* | Hayward Holdings Inc. | 499 | 13 | |||
9,518,004 | ||||||
Real Estate (9.51%) | ||||||
VICI Properties Inc. | 8,327,310 | 258,313 | ||||
Medical Properties Trust Inc. | 9,120,146 | 183,315 | ||||
Gaming & Leisure Properties Inc. | 3,428,951 | 158,863 | ||||
* | Jones Lang LaSalle Inc. | 795,768 | 155,541 | |||
Federal Realty Investment Trust | 1,205,974 | 141,304 | ||||
Kimco Realty Corp. | 6,387,343 | 133,176 | ||||
Omega Healthcare Investors Inc. | 3,650,607 | 132,481 |
Shares | Market Value ($000) | |||||
Vornado Realty Trust | 2,819,370 | 131,580 | ||||
Life Storage Inc. | 1,192,182 | 127,981 | ||||
National Retail Properties Inc. | 2,723,044 | 127,656 | ||||
Apartment Income REIT Corp. | 2,432,017 | 115,351 | ||||
Brixmor Property Group Inc. | 4,601,226 | 105,322 | ||||
First Industrial Realty Trust Inc. | 2,003,642 | 104,650 | ||||
EastGroup Properties Inc. | 620,936 | 102,113 | ||||
Douglas Emmett Inc. | 2,583,377 | 86,853 | ||||
SL Green Realty Corp. | 1,074,952 | 85,996 | ||||
Cousins Properties Inc. | 2,303,232 | 84,713 | ||||
VEREIT Inc. | 1,775,684 | 81,557 | ||||
Rayonier Inc. | 2,154,864 | 77,424 | ||||
Agree Realty Corp. | 1,056,257 | 74,456 | ||||
Highwoods Properties Inc. | 1,612,686 | 72,845 | ||||
* | Park Hotels & Resorts Inc. | 3,482,849 | 71,781 | |||
Lamar Advertising Co. Class A | 672,040 | 70,174 | ||||
Healthcare Realty Trust Inc. | 2,195,935 | 66,317 | ||||
Hudson Pacific Properties Inc. | 2,338,159 | 65,048 | ||||
* | EPR Properties | 1,159,405 | 61,077 | |||
Sabra Health Care REIT Inc. | 3,347,636 | 60,927 | ||||
Weingarten Realty Investors | 1,880,095 | 60,295 | ||||
Macerich Co. | 3,042,459 | 55,525 | ||||
Lexington Realty Trust | 4,552,298 | 54,400 | ||||
* | Outfront Media Inc. | 2,257,945 | 54,258 | |||
PotlatchDeltic Corp. | 987,961 | 52,510 | ||||
Apple Hospitality REIT Inc. | 3,295,780 | 50,294 | ||||
Corporate Office Properties Trust | 1,742,744 | 48,779 | ||||
Equity Commonwealth | 1,796,287 | 47,063 | ||||
National Health Investors Inc. | 676,136 | 45,335 | ||||
SITE Centers Corp. | 2,783,375 | 41,918 | ||||
* | Sunstone Hotel Investors Inc. | 3,355,575 | 41,676 | |||
RLJ Lodging Trust | 2,559,615 | 38,983 | ||||
Retail Properties of America Inc. Class A | 3,332,727 | 38,160 | ||||
Kennedy-Wilson Holdings Inc. | 1,854,749 | 36,854 | ||||
Brandywine Realty Trust | 2,652,767 | 36,369 | ||||
Piedmont Office Realty Trust Inc. Class A | 1,924,541 | 35,546 | ||||
* | Cushman & Wakefield plc | 1,904,099 | 33,265 | |||
* | Xenia Hotels & Resorts Inc. | 1,767,414 | 33,104 | |||
* | Realogy Holdings Corp. | 1,814,971 | 33,069 | |||
Urban Edge Properties | 1,726,830 | 32,982 | ||||
Service Properties Trust | 2,560,022 | 32,256 | ||||
Empire State Realty Trust Inc. Class A | 2,670,764 | 32,049 | ||||
* | DiamondRock Hospitality Co. | 3,265,737 | 31,678 | |||
Columbia Property Trust Inc. | 1,784,553 | 31,033 | ||||
Retail Opportunity Investments Corp. | 1,753,315 | 30,964 | ||||
Physicians Realty Trust | 1,671,660 | 30,876 | ||||
JBG SMITH Properties | 970,378 | 30,577 | ||||
Washington REIT | 1,313,274 | 30,205 | ||||
* | DigitalBridge Group Inc. | 3,761,517 | 29,716 | |||
Acadia Realty Trust | 1,341,268 | 29,454 | ||||
Newmark Group Inc. Class A | 2,407,546 | 28,915 | ||||
1 | Tanger Factory Outlet Centers Inc. | 1,481,173 | 27,920 | |||
Global Net Lease Inc. | 1,482,291 | 27,422 | ||||
Industrial Logistics Properties Trust | 1,015,136 | 26,536 | ||||
American Assets Trust Inc. | 654,421 | 24,403 | ||||
Pebblebrook Hotel Trust | 1,015,506 | 23,915 | ||||
LTC Properties Inc. | 608,557 | 23,362 | ||||
Office Properties Income Trust | 750,369 | 21,993 | ||||
Mack-Cali Realty Corp. | 1,261,574 | 21,636 | ||||
Alexander & Baldwin Inc. | 1,063,795 | 19,489 | ||||
* | CoreCivic Inc. | 1,860,055 | 19,475 |
Shares | Market Value ($000) | |||||
Uniti Group Inc. | 1,806,908 | 19,135 | ||||
Getty Realty Corp. | 583,247 | 18,168 | ||||
RPT Realty | 1,259,486 | 16,348 | ||||
Centerspace | 204,027 | 16,098 | ||||
Diversified Healthcare Trust | 3,694,740 | 15,444 | ||||
Apartment Investment & Management Co. Class A | 2,205,110 | 14,796 | ||||
American Finance Trust Inc. Class A | 1,692,858 | 14,355 | ||||
1 | GEO Group Inc. | 1,798,148 | 12,803 | |||
Brookfield Property REIT Inc. Class A | 533,162 | 10,071 | ||||
RMR Group Inc. Class A | 237,773 | 9,188 | ||||
Saul Centers Inc. | 181,201 | 8,236 | ||||
* | Seritage Growth Properties Class A | 429,711 | 7,907 | |||
Franklin Street Properties Corp. | 1,493,150 | 7,854 | ||||
* | Summit Hotel Properties Inc. | 778,064 | 7,259 | |||
* | Forestar Group Inc. | 263,845 | 5,517 | |||
Urstadt Biddle Properties Inc. Class A | 242,481 | 4,699 | ||||
Urstadt Biddle Properties Inc. | 20,597 | 331 | ||||
* | Compass Inc. Class A | 7,290 | 96 | |||
*,2 | Spirit MTA REIT | 334,911 | 90 | |||
4,569,468 | ||||||
Technology (6.39%) | ||||||
* | Nuance Communications Inc. | 4,437,205 | 241,561 | |||
* | DXC Technology Co. | 3,948,718 | 153,763 | |||
* | Arrow Electronics Inc. | 1,150,021 | 130,907 | |||
* | ON Semiconductor Corp. | 3,310,828 | 126,738 | |||
Jabil Inc. | 2,077,952 | 120,771 | ||||
Leidos Holdings Inc. | 1,096,803 | 110,887 | ||||
* | Concentrix Corp. | 645,467 | 103,791 | |||
* | CACI International Inc. Class A | 364,940 | 93,103 | |||
* | NCR Corp. | 2,028,553 | 92,522 | |||
* | Change Healthcare Inc. | 3,798,960 | 87,528 | |||
* | F5 Networks Inc. | 461,934 | 86,225 | |||
* | Synaptics Inc. | 545,907 | 84,932 | |||
* | Teradata Corp. | 1,613,994 | 80,651 | |||
Science Applications International Corp. | 898,380 | 78,815 | ||||
SYNNEX Corp. | 642,866 | 78,275 | ||||
* | Cirrus Logic Inc. | 891,861 | 75,915 | |||
* | Cerence Inc. | 586,476 | 62,583 | |||
Avnet Inc. | 1,542,306 | 61,816 | ||||
* | Dun & Bradstreet Holdings Inc. | 2,676,391 | 57,194 | |||
Xerox Holdings Corp. | 2,388,449 | 56,105 | ||||
* | Insight Enterprises Inc. | 547,778 | 54,783 | |||
Vishay Intertechnology Inc. | 2,060,336 | 46,461 | ||||
* | Covetrus Inc. | 1,589,836 | 42,926 | |||
* | Rambus Inc. | 1,747,196 | 41,426 | |||
* | Verint Systems Inc. | 909,350 | 40,984 | |||
* | Momentive Global Inc. | 1,921,636 | 40,489 | |||
* | Plexus Corp. | 442,835 | 40,480 | |||
* | Allscripts Healthcare Solutions Inc. | 2,082,044 | 38,539 | |||
* | Sanmina Corp. | 959,730 | 37,391 | |||
Xperi Holding Corp. | 1,628,745 | 36,223 | ||||
* | Avaya Holdings Corp. | 1,248,080 | 33,573 | |||
*,1 | JFrog Ltd. | 726,382 | 33,065 | |||
Progress Software Corp. | 683,684 | 31,620 | ||||
* | NetScout Systems Inc. | 1,087,165 | 31,028 | |||
* | Schrodinger Inc. | 405,099 | 30,630 | |||
* | Blackbaud Inc. | 379,193 | 29,035 | |||
*,1 | C3.ai Inc. Class A | 451,160 | 28,211 | |||
Methode Electronics Inc. | 564,586 | 27,783 | ||||
* | Sumo Logic Inc. | 1,319,866 | 27,255 | |||
McAfee Corp. Class A | 894,360 | 25,060 |
Shares | Market Value ($000) | |||||
* | Unisys Corp. | 984,379 | 24,915 | |||
* | Allegro MicroSystems Inc. | 879,601 | 24,365 | |||
* | Sprout Social Inc. Class A | 258,384 | 23,105 | |||
* | Super Micro Computer Inc. | 655,919 | 23,075 | |||
* | LiveRamp Holdings Inc. | 492,472 | 23,072 | |||
CSG Systems International Inc. | 485,901 | 22,925 | ||||
* | TTM Technologies Inc. | 1,584,473 | 22,658 | |||
Pitney Bowes Inc. | 2,579,079 | 22,619 | ||||
Amkor Technology Inc. | 944,436 | 22,355 | ||||
*,1 | Skillz Inc. Class A | 759,782 | 16,502 | |||
* | Groupon Inc. Class A | 360,306 | 15,551 | |||
Benchmark Electronics Inc. | 525,463 | 14,955 | ||||
* | Jamf Holding Corp. | 408,366 | 13,709 | |||
* | ScanSource Inc. | 394,155 | 11,088 | |||
*,1 | E2open Parent Holdings Inc. | 938,576 | 10,719 | |||
* | SolarWinds Corp. | 608,190 | 10,272 | |||
* | Squarespace Inc. Class A | 165,166 | 9,812 | |||
*,1 | Ouster Inc. | 749,018 | 9,355 | |||
*,1 | Aeva Technologies Inc. | 814,050 | 8,604 | |||
* | Olo Inc. Class A | 211,850 | 7,921 | |||
* | Confluent Inc. Class A | 164,631 | 7,820 | |||
* | Diebold Nixdorf Inc. | 578,749 | 7,431 | |||
Ebix Inc. | 191,172 | 6,481 | ||||
* | Sprinklr Inc. Class A | 128,867 | 2,653 | |||
* | Vertex Inc. Class A | 116,107 | 2,547 | |||
*,1 | KnowBe4 Inc. Class A | 67,632 | 2,115 | |||
* | SEMrush Holdings Inc. Class A | 82,369 | 1,896 | |||
*,1 | Zeta Global Holdings Corp. Class A | 171,609 | 1,442 | |||
* | SentinelOne Inc. Class A | 8,274 | 352 | |||
* | Clear Secure Inc. Class A | 8,273 | 331 | |||
* | DoubleVerify Holdings Inc. | 3,222 | 136 | |||
* | Xometry Inc. Class A | 833 | 73 | |||
* | Workiva Inc. Class A | 380 | 42 | |||
* | Procore Technologies Inc. | 312 | 30 | |||
* | Alkami Technology Inc. | 813 | 29 | |||
* | DigitalOcean Holdings Inc. | 170 | 9 | |||
* | ON24 Inc. | 99 | 4 | |||
* | Viant Technology Inc. Class A | 123 | 4 | |||
3,072,016 | ||||||
Telecommunications (1.15%) | ||||||
* | Iridium Communications Inc. | 1,862,555 | 74,484 | |||
Juniper Networks Inc. | 2,540,456 | 69,482 | ||||
* | CommScope Holding Co. Inc. | 3,163,603 | 67,416 | |||
* | Viavi Solutions Inc. | 3,544,918 | 62,603 | |||
* | Vonage Holdings Corp. | 3,704,788 | 53,386 | |||
* | 8x8 Inc. | 1,619,980 | 44,971 | |||
Telephone & Data Systems Inc. | 1,576,216 | 35,717 | ||||
InterDigital Inc. | 477,618 | 34,880 | ||||
*,1 | fuboTV Inc. | 923,152 | 29,642 | |||
* | Plantronics Inc. | 582,422 | 24,304 | |||
* | NETGEAR Inc. | 452,050 | 17,323 | |||
ADTRAN Inc. | 748,063 | 15,448 | ||||
* | EchoStar Corp. Class A | 632,855 | 15,372 | |||
* | United States Cellular Corp. | 249,821 | 9,071 | |||
554,099 | ||||||
Utilities (3.98%) | ||||||
Atmos Energy Corp. | 2,026,326 | 194,750 | ||||
Essential Utilities Inc. | 3,809,864 | 174,111 | ||||
UGI Corp. | 3,235,261 | 149,825 | ||||
OGE Energy Corp. | 3,106,257 | 104,526 |
Shares | Market Value ($000) | |||||
* | Stericycle Inc. | 1,423,572 | 101,857 | |||
NRG Energy Inc. | 1,897,557 | 76,471 | ||||
IDACORP Inc. | 783,191 | 76,361 | ||||
Pinnacle West Capital Corp. | 874,250 | 71,662 | ||||
National Fuel Gas Co. | 1,347,873 | 70,426 | ||||
Hawaiian Electric Industries Inc. | 1,607,902 | 67,982 | ||||
PNM Resources Inc. | 1,331,625 | 64,943 | ||||
Portland General Electric Co. | 1,389,204 | 64,014 | ||||
Black Hills Corp. | 974,808 | 63,977 | ||||
ONE Gas Inc. | 825,441 | 61,182 | ||||
New Jersey Resources Corp. | 1,493,368 | 59,093 | ||||
ALLETE Inc. | 809,447 | 56,645 | ||||
Southwest Gas Holdings Inc. | 843,900 | 55,858 | ||||
Spire Inc. | 761,179 | 55,010 | ||||
NorthWestern Corp. | 785,492 | 47,302 | ||||
Avista Corp. | 1,075,669 | 45,899 | ||||
American States Water Co. | 573,702 | 45,644 | ||||
South Jersey Industries Inc. | 1,746,017 | 45,274 | ||||
MGE Energy Inc. | 560,934 | 41,756 | ||||
Clearway Energy Inc. Class C | 1,251,899 | 33,150 | ||||
* | Harsco Corp. | 1,224,173 | 24,998 | |||
Northwest Natural Holding Co. | 473,784 | 24,883 | ||||
California Water Service Group | 393,063 | 21,831 | ||||
Clearway Energy Inc. Class A | 554,999 | 13,997 | ||||
1,913,427 | ||||||
Total Common Stocks (Cost $33,246,557) | 47,912,469 | |||||
Coupon | ||||||
Temporary Cash Investments (0.96%) | ||||||
Money Market Fund (0.96%) | ||||||
4,5 | Vanguard Market Liquidity Fund (Cost $462,038) | 0.056% | 4,620,875 | 462,087 | ||
Total Investments (100.68%) (Cost $33,708,595) | 48,374,556 | |||||
Other Assets and Liabilities—Net (-0.68%) | (325,523) | |||||
Net Assets (100%) | 48,049,033 |
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 $415,462,000. |
2 | Security value determined using significant unobservable inputs. |
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 June 30, 2021, the aggregate value was $45,661,000, representing 0.1% of net assets. |
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. |
5 | Collateral of $439,320,000 was received for securities on loan, of which $425,425,000 is held in Vanguard Market Liquidity Fund and $13,895,000 is held in cash. |
REIT—Real Estate Investment Trust. |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Shares | Market Value ($000) | |||||
Common Stocks (98.95%) | ||||||
Communication Services (6.22%) | ||||||
* | Snap Inc. Class A | 13,357,775 | 910,199 | |||
* | Match Group Inc. | 3,836,407 | 618,621 | |||
* | Pinterest Inc. Class A | 7,785,354 | 614,654 | |||
* | Roku Inc. Class A | 1,314,678 | 603,766 | |||
* | Liberty Broadband Corp. Class C | 2,429,645 | 421,932 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 7,077,805 | 401,170 | |||
* | Zillow Group Inc. Class C | 2,142,196 | 261,819 | |||
* | IAC/InterActiveCorp | 1,175,807 | 181,274 | |||
* | Zynga Inc. Class A | 14,395,444 | 153,024 | |||
Cable One Inc. | 76,837 | 146,975 | ||||
* | Liberty Global plc Class C | 4,973,854 | 134,493 | |||
* | Liberty Media Corp.-Liberty Formula One Class C | 2,709,159 | 130,609 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 2,512,993 | 116,578 | |||
* | Altice USA Inc. Class A | 3,264,929 | 111,465 | |||
* | Vimeo Inc. | 2,188,934 | 107,258 | |||
Nexstar Media Group Inc. Class A | 607,933 | 89,901 | ||||
New York Times Co. Class A | 2,049,678 | 89,264 | ||||
* | Zillow Group Inc. Class A | 653,145 | 80,030 | |||
1 | Sirius XM Holdings Inc. | 12,046,920 | 78,787 | |||
*,1 | Skillz Inc. Class A | 3,587,769 | 77,926 | |||
* | ZoomInfo Technologies Inc. Class A | 1,463,547 | 76,353 | |||
* | Iridium Communications Inc. | 1,657,154 | 66,270 | |||
* | Magnite Inc. | 1,817,208 | 61,494 | |||
TEGNA Inc. | 3,138,047 | 58,870 | ||||
* | Cardlytics Inc. | 460,611 | 58,465 | |||
* | TripAdvisor Inc. | 1,401,089 | 56,464 | |||
* | Liberty Global plc Class A | 1,890,362 | 51,342 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 1,041,944 | 48,534 | |||
Warner Music Group Corp. Class A | 1,330,790 | 47,962 | ||||
Cogent Communications Holdings Inc. | 585,869 | 45,047 | ||||
*,1 | fuboTV Inc. | 1,345,507 | 43,204 | |||
* | Bumble Inc. Class A | 747,634 | 43,064 | |||
* | iHeartMedia Inc. Class A | 1,598,587 | 43,050 | |||
* | Madison Square Garden Sports Corp. | 242,094 | 41,778 | |||
* | Yelp Inc. Class A | 991,522 | 39,621 | |||
John Wiley & Sons Inc. Class A | 615,679 | 37,052 | ||||
World Wrestling Entertainment Inc. Class A | 635,353 | 36,781 | ||||
* | Bandwidth Inc. Class A | 254,525 | 35,104 | |||
Shenandoah Telecommunications Co. | 696,751 | 33,799 | ||||
* | Cinemark Holdings Inc. | 1,536,594 | 33,728 | |||
* | Cargurus Inc. Class A | 1,284,211 | 33,685 | |||
Telephone & Data Systems Inc. | 1,386,334 | 31,414 | ||||
* | Lions Gate Entertainment Corp. Class B | 1,690,242 | 30,931 | |||
Gray Television Inc. | 1,275,827 | 29,854 | ||||
*,1 | AMC Networks Inc. Class A | 433,369 | 28,949 | |||
* | Liberty Latin America Ltd. Class C | 2,008,379 | 28,318 | |||
* | Liberty Broadband Corp. Class A | 157,517 | 26,490 | |||
* | TechTarget Inc. | 334,904 | 25,952 | |||
* | Meredith Corp. | 580,336 | 25,210 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 554,943 | 23,657 | |||
* | Playtika Holding Corp. | 964,296 | 22,989 | |||
Sinclair Broadcast Group Inc. Class A | 679,716 | 22,580 | ||||
* | Eventbrite Inc. Class A | 1,072,826 | 20,384 | |||
* | Madison Square Garden Entertainment Corp. | 241,101 | 20,245 | |||
* | Clear Channel Outdoor Holdings Inc. | 6,803,825 | 17,962 | |||
* | Lions Gate Entertainment Corp. Class A | 854,208 | 17,682 | |||
EW Scripps Co. Class A | 834,739 | 17,020 |
Shares | Market Value ($000) | |||||
*,1 | Globalstar Inc. | 9,321,409 | 16,592 | |||
* | Advantage Solutions Inc. | 1,519,842 | 16,399 | |||
* | WideOpenWest Inc. | 756,583 | 15,669 | |||
* | Angi Inc. Class A | 1,140,542 | 15,420 | |||
Scholastic Corp. | 402,149 | 15,237 | ||||
* | Liberty Media Corp.-Liberty Braves Class C | 525,839 | 14,603 | |||
* | Cars.com Inc. | 964,737 | 13,825 | |||
* | QuinStreet Inc. | 719,483 | 13,368 | |||
* | MediaAlpha Inc. Class A | 308,715 | 12,997 | |||
* | ORBCOMM Inc. | 1,136,127 | 12,770 | |||
* | Radius Global Infrastructure Inc. | 861,929 | 12,498 | |||
* | Liberty Latin America Ltd. Class A | 880,238 | 12,200 | |||
* | Cincinnati Bell Inc. | 736,674 | 11,360 | |||
* | Gannett Co. Inc. | 1,927,518 | 10,582 | |||
* | Anterix Inc. | 174,218 | 10,451 | |||
* | Consolidated Communications Holdings Inc. | 1,062,593 | 9,340 | |||
* | IDT Corp. Class B | 252,629 | 9,337 | |||
* | MSG Networks Inc. Class A | 637,509 | 9,295 | |||
*,1 | Gogo Inc. | 716,266 | 8,151 | |||
* | TrueCar Inc. | 1,373,284 | 7,759 | |||
ATN International Inc. | 168,474 | 7,664 | ||||
* | Entercom Communications Corp. Class A | 1,710,431 | 7,372 | |||
*,1 | AST SpaceMobile Inc. | 556,900 | 7,206 | |||
* | Boston Omaha Corp. Class A | 227,056 | 7,200 | |||
* | Marcus Corp. | 333,445 | 7,072 | |||
Loral Space & Communications Inc. | 180,667 | 7,019 | ||||
* | United States Cellular Corp. | 182,465 | 6,625 | |||
* | Ooma Inc. | 317,822 | 5,994 | |||
Entravision Communications Corp. Class A | 871,053 | 5,819 | ||||
* | Sciplay Corp. Class A | 327,919 | 5,558 | |||
* | MDC Partners Inc. Class A | 898,910 | 5,259 | |||
* | EverQuote Inc. Class A | 149,191 | 4,876 | |||
* | comScore Inc. | 886,379 | 4,432 | |||
National CineMedia Inc. | 873,099 | 4,427 | ||||
*,1 | CuriosityStream Inc. | 322,485 | 4,399 | |||
* | Liberty TripAdvisor Holdings Inc. Class A | 1,010,021 | 4,111 | |||
* | Liberty Media Corp.-Liberty Braves Class A | 143,456 | 4,048 | |||
* | Daily Journal Corp. | 11,071 | 3,748 | |||
* | Cumulus Media Inc. Class A | 252,157 | 3,694 | |||
*,1 | Chicken Soup For The Soul Entertainment Inc. Class A | 87,439 | 3,620 | |||
* | LiveXLive Media Inc. | 751,161 | 3,546 | |||
* | Hemisphere Media Group Inc. Class A | 262,218 | 3,094 | |||
*,1,2 | NII Holdings Inc. | 1,297,367 | 2,815 | |||
* | Thryv Holdings Inc. | 76,633 | 2,741 | |||
* | Zedge Inc. Class B | 146,083 | 2,689 | |||
Spok Holdings Inc. | 260,324 | 2,504 | ||||
* | Alaska Communications Systems Group Inc. | 749,200 | 2,495 | |||
* | DHI Group Inc. | 708,720 | 2,395 | |||
* | Lee Enterprises Inc. | 79,935 | 2,262 | |||
* | Gaia Inc. Class A | 195,135 | 2,145 | |||
*,1 | IZEA Worldwide Inc. | 789,525 | 2,013 | |||
* | Emerald Holding Inc. | 368,775 | 1,988 | |||
* | Fluent Inc. | 626,375 | 1,835 | |||
* | Townsquare Media Inc. Class A | 137,090 | 1,748 | |||
*,1 | Super League Gaming Inc. | 324,118 | 1,747 | |||
*,1 | Digital Media Solutions Inc. | 172,264 | 1,668 | |||
* | Cinedigm Corp. Class A | 1,268,342 | 1,636 | |||
* | Travelzoo | 102,940 | 1,519 | |||
* | Reading International Inc. Class A | 213,227 | 1,486 | |||
Saga Communications Inc. Class A | 60,105 | 1,301 | ||||
*,1 | Urban One Inc. Class A | 147,549 | 1,279 |
Shares | Market Value ($000) | |||||
* | Ballantyne Strong Inc. | 258,423 | 1,238 | |||
* | Marchex Inc. Class B | 402,768 | 1,232 | |||
* | Motorsport Games Inc. Class A | 62,885 | 880 | |||
*,1 | Dolphin Entertainment Inc. | 86,970 | 812 | |||
* | Kubient Inc. | 129,750 | 741 | |||
*,1 | Creatd Inc. | 134,195 | 503 | |||
*,1 | Endeavor Group Holdings Inc. Class A | 15,925 | 441 | |||
* | AutoWeb Inc. | 129,350 | 404 | |||
* | Urban One Inc. | 79,223 | 398 | |||
DallasNews Corp. | 52,332 | 389 | ||||
* | Salem Media Group Inc. Class A | 133,923 | 342 | |||
* | Beasley Broadcast Group Inc. Class A | 109,821 | 317 | |||
* | Creative Realities Inc. | 102,697 | 223 | |||
* | SPAR Group Inc. | 108,259 | 155 | |||
*,1 | Cuentas Inc. | 24,285 | 151 | |||
* | Insignia Systems Inc. | 17,968 | 150 | |||
* | Professional Diversity Network Inc. | 73,847 | 120 | |||
* | Mediaco Holding Inc. Class A | 5,627 | 20 | |||
7,122,467 | ||||||
Consumer Discretionary (11.49%) | ||||||
* | Lululemon Athletica Inc. | 1,681,572 | 613,723 | |||
* | Peloton Interactive Inc. Class A | 3,827,712 | 474,713 | |||
* | Airbnb Inc. Class A | 2,087,180 | 319,631 | |||
* | Burlington Stores Inc. | 939,474 | 302,501 | |||
* | Wayfair Inc. Class A | 915,477 | 289,025 | |||
* | Carvana Co. | 920,994 | 277,974 | |||
* | DraftKings Inc. Class A | 4,619,730 | 241,011 | |||
* | Vail Resorts Inc. | 569,379 | 180,220 | |||
Williams-Sonoma Inc. | 1,080,909 | 172,567 | ||||
* | GameStop Corp. Class A | 789,148 | 168,988 | |||
* | Chegg Inc. | 2,030,417 | 168,748 | |||
* | RH | 237,162 | 161,033 | |||
* | Floor & Decor Holdings Inc. Class A | 1,490,083 | 157,502 | |||
* | Five Below Inc. | 794,034 | 153,463 | |||
* | Deckers Outdoor Corp. | 392,958 | 150,923 | |||
Lithia Motors Inc. Class A | 420,129 | 144,373 | ||||
Lear Corp. | 774,037 | 135,673 | ||||
Aramark | 3,604,203 | 134,257 | ||||
Service Corp. International | 2,394,122 | 128,301 | ||||
* | Bright Horizons Family Solutions Inc. | 867,865 | 127,672 | |||
* | Capri Holdings Ltd. | 2,139,062 | 122,333 | |||
Kohl's Corp. | 2,201,539 | 121,327 | ||||
Gentex Corp. | 3,431,616 | 113,552 | ||||
Polaris Inc. | 817,292 | 111,936 | ||||
Brunswick Corp. | 1,101,720 | 109,753 | ||||
Autoliv Inc. | 1,115,069 | 109,009 | ||||
* | Crocs Inc. | 926,644 | 107,973 | |||
Tempur Sealy International Inc. | 2,615,738 | 102,511 | ||||
Harley-Davidson Inc. | 2,182,870 | 100,019 | ||||
* | Mattel Inc. | 4,968,102 | 99,859 | |||
* | YETI Holdings Inc. | 1,061,602 | 97,476 | |||
Churchill Downs Inc. | 489,522 | 97,053 | ||||
* | Marriott Vacations Worldwide Corp. | 602,963 | 96,052 | |||
Wyndham Hotels & Resorts Inc. | 1,321,314 | 95,518 | ||||
* | Skechers USA Inc. Class A | 1,891,078 | 94,232 | |||
*,1 | Chewy Inc. Class A | 1,174,943 | 93,655 | |||
Dick's Sporting Goods Inc. | 930,223 | 93,199 | ||||
* | TopBuild Corp. | 467,862 | 92,534 | |||
Toll Brothers Inc. | 1,593,458 | 92,118 | ||||
* | Fox Factory Holding Corp. | 591,756 | 92,113 | |||
Foot Locker Inc. | 1,466,135 | 90,358 |
Shares | Market Value ($000) | |||||
* | Planet Fitness Inc. Class A | 1,187,083 | 89,328 | |||
* | DoorDash Inc. Class A | 498,530 | 88,903 | |||
Texas Roadhouse Inc. Class A | 922,430 | 88,738 | ||||
Thor Industries Inc. | 780,197 | 88,162 | ||||
* | Terminix Global Holdings Inc. | 1,830,519 | 87,334 | |||
* | Macy's Inc. | 4,382,633 | 83,095 | |||
American Eagle Outfitters Inc. | 2,148,053 | 80,616 | ||||
* | Helen of Troy Ltd. | 344,528 | 78,594 | |||
Travel + Leisure Co. | 1,219,070 | 72,474 | ||||
* | AutoNation Inc. | 762,941 | 72,334 | |||
*,1 | QuantumScape Corp. Class A | 2,444,321 | 71,521 | |||
Qurate Retail Inc. Class A | 5,395,265 | 70,624 | ||||
* | Boyd Gaming Corp. | 1,128,520 | 69,393 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 800,029 | 67,306 | |||
* | Goodyear Tire & Rubber Co. | 3,924,050 | 67,297 | |||
Wingstop Inc. | 415,300 | 65,464 | ||||
Carter's Inc. | 621,842 | 64,155 | ||||
*,1 | Luminar Technologies Inc. Class A | 2,838,994 | 62,316 | |||
* | Scientific Games Corp. | 799,651 | 61,925 | |||
H&R Block Inc. | 2,579,455 | 60,566 | ||||
* | frontdoor Inc. | 1,206,849 | 60,125 | |||
* | Adient plc | 1,316,043 | 59,485 | |||
* | National Vision Holdings Inc. | 1,159,899 | 59,306 | |||
* | Signet Jewelers Ltd. | 732,690 | 59,194 | |||
Wendy's Co. | 2,521,201 | 59,047 | ||||
* | Grand Canyon Education Inc. | 653,366 | 58,783 | |||
* | Nordstrom Inc. | 1,535,692 | 56,160 | |||
* | Overstock.com Inc. | 599,127 | 55,240 | |||
* | Callaway Golf Co. | 1,625,687 | 54,834 | |||
* | Stitch Fix Inc. Class A | 904,315 | 54,530 | |||
* | Shake Shack Inc. Class A | 507,449 | 54,307 | |||
* | Stamps.com Inc. | 255,620 | 51,198 | |||
* | Meritage Homes Corp. | 536,667 | 50,490 | |||
KB Home | 1,239,048 | 50,454 | ||||
* | Hilton Grand Vacations Inc. | 1,213,110 | 50,211 | |||
* | Bed Bath & Beyond Inc. | 1,504,686 | 50,091 | |||
Cracker Barrel Old Country Store Inc. | 336,984 | 50,029 | ||||
* | LGI Homes Inc. | 305,474 | 49,468 | |||
* | Sonos Inc. | 1,400,712 | 49,347 | |||
Papa John's International Inc. | 468,481 | 48,928 | ||||
Dana Inc. | 2,056,558 | 48,864 | ||||
Choice Hotels International Inc. | 408,975 | 48,611 | ||||
* | Taylor Morrison Home Corp. Class A | 1,790,627 | 47,308 | |||
Steven Madden Ltd. | 1,075,494 | 47,064 | ||||
* | Visteon Corp. | 387,055 | 46,810 | |||
Murphy USA Inc. | 350,059 | 46,687 | ||||
* | Asbury Automotive Group Inc. | 268,447 | 46,004 | |||
* | Six Flags Entertainment Corp. | 1,062,388 | 45,980 | |||
LCI Industries | 349,856 | 45,978 | ||||
*,1 | Fisker Inc. | 2,294,999 | 44,248 | |||
Rent-A-Center Inc. | 832,663 | 44,189 | ||||
* | 2U Inc. | 1,053,861 | 43,914 | |||
Columbia Sportswear Co. | 428,718 | 42,169 | ||||
* | Hyatt Hotels Corp. Class A | 534,645 | 41,510 | |||
* | Dorman Products Inc. | 396,348 | 41,089 | |||
* | Brinker International Inc. | 651,667 | 40,306 | |||
* | Urban Outfitters Inc. | 972,272 | 40,077 | |||
* | Abercrombie & Fitch Co. Class A | 862,412 | 40,042 | |||
Wolverine World Wide Inc. | 1,178,180 | 39,634 | ||||
MDC Holdings Inc. | 780,067 | 39,471 | ||||
Installed Building Products Inc. | 318,846 | 39,014 |
Shares | Market Value ($000) | |||||
* | Skyline Champion Corp. | 724,098 | 38,594 | |||
* | Red Rock Resorts Inc. Class A | 903,275 | 38,389 | |||
Kontoor Brands Inc. | 673,815 | 38,010 | ||||
* | Sleep Number Corp. | 342,004 | 37,603 | |||
* | Vista Outdoor Inc. | 805,362 | 37,272 | |||
Group 1 Automotive Inc. | 240,254 | 37,102 | ||||
* | Leslie's Inc. | 1,330,789 | 36,583 | |||
* | SeaWorld Entertainment Inc. | 731,840 | 36,548 | |||
* | iRobot Corp. | 390,492 | 36,468 | |||
* | ODP Corp. | 750,468 | 36,030 | |||
Graham Holdings Co. Class B | 56,239 | 35,650 | ||||
* | Cheesecake Factory Inc. | 653,659 | 35,415 | |||
* | Sally Beauty Holdings Inc. | 1,604,391 | 35,409 | |||
* | Tri Pointe Homes Inc. | 1,641,191 | 35,171 | |||
* | Boot Barn Holdings Inc. | 417,692 | 35,107 | |||
Jack in the Box Inc. | 313,662 | 34,954 | ||||
* | Revolve Group Inc. Class A | 506,403 | 34,891 | |||
* | GrowGeneration Corp. | 722,177 | 34,737 | |||
* | Gentherm Inc. | 476,146 | 33,830 | |||
Penske Automotive Group Inc. | 443,855 | 33,507 | ||||
Levi Strauss & Co. Class A | 1,178,726 | 32,674 | ||||
Winnebago Industries Inc. | 479,693 | 32,600 | ||||
* | Bloomin' Brands Inc. | 1,148,389 | 31,167 | |||
Shutterstock Inc. | 316,197 | 31,041 | ||||
* | Everi Holdings Inc. | 1,236,099 | 30,828 | |||
Monro Inc. | 479,003 | 30,421 | ||||
*,1 | Veoneer Inc. | 1,311,019 | 30,219 | |||
Big Lots Inc. | 449,449 | 29,668 | ||||
Core-Mark Holding Co. Inc. | 642,627 | 28,925 | ||||
* | At Home Group Inc. | 780,323 | 28,747 | |||
* | Dave & Buster's Entertainment Inc. | 686,266 | 27,862 | |||
Century Communities Inc. | 418,135 | 27,823 | ||||
Strategic Education Inc. | 353,090 | 26,856 | ||||
Smith & Wesson Brands Inc. | 760,824 | 26,401 | ||||
* | Cavco Industries Inc. | 116,949 | 25,985 | |||
*,1 | Workhorse Group Inc. | 1,536,846 | 25,496 | |||
* | WW International Inc. | 684,928 | 24,753 | |||
* | Adtalem Global Education Inc. | 683,262 | 24,351 | |||
Acushnet Holdings Corp. | 489,975 | 24,205 | ||||
Oxford Industries Inc. | 241,219 | 23,842 | ||||
* | M/I Homes Inc. | 403,901 | 23,697 | |||
La-Z-Boy Inc. | 634,538 | 23,503 | ||||
* | Academy Sports & Outdoors Inc. | 566,533 | 23,364 | |||
Patrick Industries Inc. | 319,913 | 23,354 | ||||
*,1 | Petco Health & Wellness Co. Inc. Class A | 1,036,083 | 23,219 | |||
Sturm Ruger & Co. Inc. | 256,215 | 23,054 | ||||
* | Purple Innovation Inc. Class A | 860,906 | 22,737 | |||
* | Bally's Corp. | 417,824 | 22,608 | |||
Camping World Holdings Inc. Class A | 545,565 | 22,363 | ||||
* | Malibu Boats Inc. Class A | 301,772 | 22,129 | |||
* | Laureate Education Inc. Class A | 1,507,861 | 21,879 | |||
* | Dine Brands Global Inc. | 239,670 | 21,391 | |||
* | Vroom Inc. | 507,743 | 21,254 | |||
* | G-III Apparel Group Ltd. | 631,366 | 20,747 | |||
* | GoPro Inc. Class A | 1,765,685 | 20,570 | |||
Buckle Inc. | 412,865 | 20,540 | ||||
* | Porch Group Inc. | 1,054,752 | 20,399 | |||
* | Houghton Mifflin Harcourt Co. | 1,826,378 | 20,163 | |||
* | Hibbett Inc. | 224,833 | 20,152 | |||
*,1 | Canoo Inc. | 2,013,038 | 20,010 | |||
* | XPEL Inc. | 237,877 | 19,951 |
Shares | Market Value ($000) | |||||
* | Children's Place Inc. | 210,689 | 19,607 | |||
* | Stride Inc. | 602,763 | 19,367 | |||
1 | Dillard's Inc. Class A | 101,394 | 18,340 | |||
* | Tenneco Inc. Class A | 935,384 | 18,072 | |||
*,1 | Blink Charging Co. | 436,600 | 17,975 | |||
* | RealReal Inc. | 853,867 | 16,872 | |||
* | Tupperware Brands Corp. | 709,372 | 16,848 | |||
* | American Axle & Manufacturing Holdings Inc. | 1,622,801 | 16,796 | |||
* | BJ's Restaurants Inc. | 334,782 | 16,451 | |||
*,1 | Lordstown Motors Corp. | 1,480,745 | 16,377 | |||
* | Green Brick Partners Inc. | 700,759 | 15,935 | |||
Aaron's Co. Inc. | 485,297 | 15,525 | ||||
* | MarineMax Inc. | 317,240 | 15,462 | |||
* | Denny's Corp. | 933,267 | 15,390 | |||
* | Hayward Holdings Inc. | 577,203 | 15,019 | |||
Caleres Inc. | 548,435 | 14,967 | ||||
* | Zumiez Inc. | 305,274 | 14,955 | |||
* | Party City Holdco Inc. | 1,590,644 | 14,841 | |||
Sonic Automotive Inc. Class A | 327,988 | 14,674 | ||||
*,1 | Vuzix Corp. | 794,285 | 14,575 | |||
Guess? Inc. | 542,042 | 14,310 | ||||
* | Groupon Inc. Class A | 328,197 | 14,165 | |||
*,1 | ContextLogic Inc. Class A | 1,071,432 | 14,111 | |||
* | Designer Brands Inc. Class A | 840,556 | 13,911 | |||
Franchise Group Inc. | 393,201 | 13,868 | ||||
* | Genesco Inc. | 204,078 | 12,996 | |||
* | America's Car-Mart Inc. | 90,717 | 12,856 | |||
Johnson Outdoors Inc. Class A | 106,214 | 12,852 | ||||
* | Perdoceo Education Corp. | 1,041,039 | 12,774 | |||
* | Modine Manufacturing Co. | 752,123 | 12,478 | |||
* | Monarch Casino & Resort Inc. | 185,776 | 12,293 | |||
* | Golden Entertainment Inc. | 273,105 | 12,235 | |||
* | Quotient Technology Inc. | 1,127,964 | 12,193 | |||
* | Lovesac Co. | 152,470 | 12,166 | |||
Standard Motor Products Inc. | 271,549 | 11,772 | ||||
* | Stoneridge Inc. | 396,919 | 11,709 | |||
* | 1-800-Flowers.com Inc. Class A | 361,699 | 11,527 | |||
*,1 | XL Fleet Corp. | 1,379,383 | 11,490 | |||
* | Chico's FAS Inc. | 1,723,802 | 11,343 | |||
* | Citi Trends Inc. | 130,211 | 11,328 | |||
* | Sportsman's Warehouse Holdings Inc. | 634,132 | 11,269 | |||
*,1 | PLBY Group Inc. | 289,303 | 11,251 | |||
* | AMMO Inc. | 1,102,334 | 10,792 | |||
* | Chuy's Holdings Inc. | 287,085 | 10,697 | |||
* | Ruth's Hospitality Group Inc. | 461,745 | 10,634 | |||
* | CarParts.com Inc. | 512,291 | 10,430 | |||
Haverty Furniture Cos. Inc. | 243,310 | 10,404 | ||||
* | Rush Street Interactive Inc. | 836,947 | 10,261 | |||
*,1 | Cricut Inc. Class A | 237,765 | 10,129 | |||
* | Playa Hotels & Resorts NV | 1,352,251 | 10,047 | |||
* | Universal Electronics Inc. | 204,428 | 9,915 | |||
* | Liquidity Services Inc. | 388,969 | 9,899 | |||
* | Lands' End Inc. | 235,334 | 9,660 | |||
* | Fossil Group Inc. | 674,575 | 9,633 | |||
* | Accel Entertainment Inc. Class A | 795,423 | 9,442 | |||
Clarus Corp. | 365,289 | 9,388 | ||||
1 | PetMed Express Inc. | 293,841 | 9,359 | |||
*,1 | Poshmark Inc. Class A | 195,043 | 9,311 | |||
* | Coursera Inc. | 232,288 | 9,189 | |||
Carriage Services Inc. Class A | 244,203 | 9,028 | ||||
* | Latham Group Inc. | 279,795 | 8,942 |
Shares | Market Value ($000) | |||||
Shoe Carnival Inc. | 123,905 | 8,870 | ||||
* | Lumber Liquidators Holdings Inc. | 419,592 | 8,853 | |||
Ethan Allen Interiors Inc. | 319,985 | 8,832 | ||||
* | Arko Corp. | 954,072 | 8,768 | |||
* | Vivint Smart Home Inc. | 637,080 | 8,409 | |||
* | Beazer Homes USA Inc. | 434,635 | 8,384 | |||
* | American Public Education Inc. | 283,006 | 8,020 | |||
RCI Hospitality Holdings Inc. | 120,049 | 7,947 | ||||
1 | Big 5 Sporting Goods Corp. | 301,330 | 7,738 | |||
Movado Group Inc. | 241,248 | 7,592 | ||||
* | Red Robin Gourmet Burgers Inc. | 224,951 | 7,448 | |||
* | OneSpaWorld Holdings Ltd. | 767,169 | 7,434 | |||
* | Nautilus Inc. | 440,612 | 7,424 | |||
*,1 | Golden Nugget Online Gaming Inc. | 578,971 | 7,388 | |||
*,1 | Genius Brands International Inc. | 4,014,176 | 7,386 | |||
* | MasterCraft Boat Holdings Inc. | 280,229 | 7,367 | |||
* | American Outdoor Brands Inc. | 208,094 | 7,312 | |||
* | Lindblad Expeditions Holdings Inc. | 455,775 | 7,297 | |||
*,1 | Shift Technologies Inc. | 846,543 | 7,263 | |||
Winmark Corp. | 37,307 | 7,166 | ||||
* | Conn's Inc. | 277,460 | 7,075 | |||
* | Cooper-Standard Holdings Inc. | 243,215 | 7,053 | |||
* | Hovnanian Enterprises Inc. Class A | 66,249 | 7,042 | |||
Marine Products Corp. | 435,410 | 6,723 | ||||
* | Funko Inc. Class A | 310,341 | 6,604 | |||
*,1 | Arcimoto Inc. | 375,498 | 6,455 | |||
* | Express Inc. | 948,730 | 6,157 | |||
* | TravelCenters of America Inc. | 209,205 | 6,117 | |||
*,1 | ThredUp Inc. Class A | 209,621 | 6,096 | |||
Hooker Furniture Corp. | 175,501 | 6,079 | ||||
OneWater Marine Inc. Class A | 143,841 | 6,046 | ||||
Rocky Brands Inc. | 101,217 | 5,628 | ||||
* | Noodles & Co. Class A | 445,413 | 5,559 | |||
* | Motorcar Parts of America Inc. | 242,316 | 5,438 | |||
Tilly's Inc. Class A | 338,218 | 5,405 | ||||
*,1 | PubMatic Inc. Class A | 136,252 | 5,323 | |||
* | Unifi Inc. | 218,345 | 5,319 | |||
*,1 | CarLotz Inc. | 965,292 | 5,271 | |||
* | PlayAGS Inc. | 526,035 | 5,208 | |||
* | Century Casinos Inc. | 387,312 | 5,202 | |||
*,1 | 1847 Goedeker Inc. | 1,339,212 | 5,156 | |||
* | El Pollo Loco Holdings Inc. | 278,683 | 5,097 | |||
Cato Corp. Class A | 295,673 | 4,988 | ||||
Del Taco Restaurants Inc. | 484,407 | 4,849 | ||||
*,1 | StoneMor Inc. | 1,793,246 | 4,698 | |||
* | Vizio Holding Corp. Class A | 165,127 | 4,460 | |||
* | Kirkland's Inc. | 194,241 | 4,444 | |||
* | Vera Bradley Inc. | 324,859 | 4,025 | |||
Flexsteel Industries Inc. | 97,684 | 3,945 | ||||
* | Drive Shack Inc. | 1,183,163 | 3,916 | |||
* | Container Store Group Inc. | 296,427 | 3,865 | |||
* | Bluegreen Vacations Holding Corp. Class A | 214,654 | 3,864 | |||
* | Duluth Holdings Inc. Class B | 178,791 | 3,692 | |||
*,1 | Dream Finders Homes Inc. Class A | 147,162 | 3,595 | |||
* | Full House Resorts Inc. | 359,688 | 3,575 | |||
1 | Hall of Fame Resort & Entertainment Co. | 883,148 | 3,471 | |||
*,1 | ONE Group Hospitality Inc. | 313,980 | 3,460 | |||
* | Fiesta Restaurant Group Inc. | 257,327 | 3,456 | |||
* | Build-A-Bear Workshop Inc. | 196,911 | 3,409 | |||
Bassett Furniture Industries Inc. | 138,463 | 3,372 | ||||
* | Barnes & Noble Education Inc. | 456,383 | 3,291 |
Shares | Market Value ($000) | |||||
* | Superior Industries International Inc. | 381,353 | 3,287 | |||
* | Regis Corp. | 349,565 | 3,272 | |||
*,1 | Aterian Inc. | 221,261 | 3,237 | |||
Superior Group of Cos. Inc. | 133,888 | 3,201 | ||||
* | Garrett Motion Inc. | 398,600 | 3,181 | |||
* | VOXX International Corp. Class A | 226,322 | 3,171 | |||
* | Carrols Restaurant Group Inc. | 522,588 | 3,141 | |||
* | Universal Technical Institute Inc. | 478,196 | 3,103 | |||
* | Casper Sleep Inc. | 370,020 | 3,049 | |||
*,1 | GAN Ltd. | 184,685 | 3,036 | |||
Escalade Inc. | 129,137 | 2,964 | ||||
* | Select Interior Concepts Inc. Class A | 315,254 | 2,963 | |||
Nathan's Famous Inc. | 40,865 | 2,914 | ||||
* | Inspired Entertainment Inc. | 221,770 | 2,828 | |||
* | Lincoln Educational Services Corp. | 348,261 | 2,709 | |||
* | Lakeland Industries Inc. | 119,360 | 2,665 | |||
JOANN Inc. | 164,435 | 2,590 | ||||
* | Waitr Holdings Inc. | 1,433,022 | 2,551 | |||
* | Delta Apparel Inc. | 85,957 | 2,537 | |||
* | Horizon Global Corp. | 298,383 | 2,530 | |||
* | Potbelly Corp. | 318,419 | 2,516 | |||
* | Strattec Security Corp. | 55,763 | 2,479 | |||
* | BBQ Holdings Inc. | 130,141 | 2,470 | |||
*,1 | Remark Holdings Inc. | 1,304,599 | 2,427 | |||
Culp Inc. | 148,464 | 2,420 | ||||
Lifetime Brands Inc. | 160,590 | 2,404 | ||||
* | Legacy Housing Corp. | 141,220 | 2,388 | |||
* | Lazydays Holdings Inc. | 107,766 | 2,371 | |||
*,1 | Aspen Group Inc. | 333,613 | 2,175 | |||
*,1 | Esports Entertainment Group Inc. | 199,381 | 2,165 | |||
*,1 | XpresSpa Group Inc. | 1,379,720 | 2,125 | |||
* | J Alexander's Holdings Inc. Class A | 179,472 | 2,089 | |||
Hamilton Beach Brands Holding Co. Class A | 92,346 | 2,057 | ||||
* | Biglari Holdings Inc. Class B | 12,507 | 1,994 | |||
* | Kura Sushi USA Inc. Class A | 52,221 | 1,985 | |||
Weyco Group Inc. | 77,311 | 1,729 | ||||
*,1 | BurgerFi International Inc. | 168,553 | 1,686 | |||
* | Landsea Homes Corp. | 199,200 | 1,667 | |||
*,1 | AYRO Inc. | 332,352 | 1,622 | |||
* | Target Hospitality Corp. | 392,230 | 1,455 | |||
*,1 | Koss Corp. | 62,148 | 1,443 | |||
*,1 | LMP Automotive Holdings Inc. | 84,897 | 1,443 | |||
* | Charles & Colvard Ltd. | 453,482 | 1,351 | |||
* | RumbleON Inc. Class B | 32,485 | 1,315 | |||
* | iMedia Brands Inc. | 161,242 | 1,298 | |||
* | Live Ventures Inc. | 20,102 | 1,238 | |||
* | New Home Co. Inc. | 194,068 | 1,139 | |||
*,1 | Vinco Ventures Inc. | 283,169 | 1,119 | |||
*,1 | Greenlane Holdings Inc. Class A | 249,130 | 1,114 | |||
* | Zovio Inc. Class A | 422,334 | 1,094 | |||
*,1 | J. Jill Inc. | 54,407 | 1,072 | |||
* | Biglari Holdings Inc. Class A | 1,335 | 1,040 | |||
*,1 | Blue Apron Holdings Inc. Class A | 211,464 | 905 | |||
* | JAKKS Pacific Inc. | 78,317 | 861 | |||
* | Toughbuilt Industries Inc. | 1,033,977 | 860 | |||
Educational Development Corp. | 65,062 | 811 | ||||
* | Iconix Brand Group Inc. | 244,119 | 764 | |||
* | Ark Restaurants Corp. | 38,576 | 762 | |||
* | Sypris Solutions Inc. | 191,017 | 711 | |||
*,1 | Harbor Custom Development Inc. | 208,794 | 676 | |||
* | Mister Car Wash Inc. | 30,865 | 665 |
Shares | Market Value ($000) | |||||
* | Luby's Inc. | 169,167 | 650 | |||
Crown Crafts Inc. | 82,557 | 625 | ||||
* | Allied Esports Entertainment Inc. | 270,890 | 623 | |||
* | Dixie Group Inc. | 190,957 | 560 | |||
*,1 | Digital Brands Group Inc. | 89,647 | 520 | |||
* | Nephros Inc. | 44,770 | 465 | |||
*,1 | Forward Industries Inc. | 139,573 | 413 | |||
* | Good Times Restaurants Inc. | 99,829 | 408 | |||
Dover Motorsports Inc. | 181,111 | 408 | ||||
* | Vince Holding Corp. | 40,363 | 408 | |||
* | 1stdibs.com Inc. | 11,105 | 387 | |||
*,1 | Monaker Group Inc. | 160,271 | 359 | |||
* | Xcel Brands Inc. | 113,019 | 338 | |||
* | Flanigan's Enterprises Inc. | 8,326 | 336 | |||
AMCON Distributing Co. | 2,126 | 326 | ||||
*,1 | Comstock Holding Cos. Inc. Class A | 52,273 | 313 | |||
* | Rave Restaurant Group Inc. | 209,299 | 310 | |||
* | Amesite Inc. | 103,256 | 284 | |||
* | Unique Fabricating Inc. | 56,941 | 211 | |||
* | Muscle Maker Inc. | 122,856 | 172 | |||
*,1 | Sequential Brands Group Inc. | 16,951 | 145 | |||
* | Nova Lifestyle Inc. | 42,072 | 133 | |||
*,1 | Yunhong CTI Ltd. | 46,060 | 91 | |||
*,1 | Envela Corp. | 17,358 | 83 | |||
* | Emerson Radio Corp. | 68,379 | 81 | |||
* | Esports Technologies Inc. | 3,018 | 64 | |||
*,1 | TRxADE HEALTH Inc. | 9,900 | 44 | |||
* | Canterbury Park Holding Corp. | 2,731 | 41 | |||
*,2 | Contra A/S CVR | 448,712 | 40 | |||
* | iPower Inc. | 2,776 | 20 | |||
Jerash Holdings US Inc. | 2,870 | 19 | ||||
* | Amergent Hospitality Group Inc. | 19,975 | 11 | |||
* | Bowl America Inc. Class A | 505 | 4 | |||
13,150,594 | ||||||
Consumer Staples (2.65%) | ||||||
Keurig Dr Pepper Inc. | 8,182,390 | 288,347 | ||||
Bunge Ltd. | 1,990,697 | 155,573 | ||||
* | Darling Ingredients Inc. | 2,294,300 | 154,865 | |||
* | Boston Beer Co. Inc. Class A | 131,330 | 134,062 | |||
* | US Foods Holding Corp. | 3,122,428 | 119,776 | |||
*,1 | Beyond Meat Inc. | 705,006 | 111,031 | |||
Casey's General Stores Inc. | 519,250 | 101,067 | ||||
* | Freshpet Inc. | 610,280 | 99,451 | |||
* | BJ's Wholesale Club Holdings Inc. | 1,938,370 | 92,228 | |||
* | Performance Food Group Co. | 1,882,161 | 91,266 | |||
* | Post Holdings Inc. | 835,471 | 90,624 | |||
Ingredion Inc. | 942,037 | 85,254 | ||||
Flowers Foods Inc. | 2,771,715 | 67,076 | ||||
* | Herbalife Nutrition Ltd. | 1,238,922 | 65,328 | |||
Lancaster Colony Corp. | 278,794 | 53,949 | ||||
Sanderson Farms Inc. | 280,943 | 52,809 | ||||
WD-40 Co. | 195,147 | 50,014 | ||||
Medifast Inc. | 163,298 | 46,210 | ||||
* | Hain Celestial Group Inc. | 1,137,777 | 45,648 | |||
Spectrum Brands Holdings Inc. | 535,050 | 45,501 | ||||
* | Simply Good Foods Co. | 1,195,868 | 43,661 | |||
* | Grocery Outlet Holding Corp. | 1,215,465 | 42,128 | |||
* | Sprouts Farmers Market Inc. | 1,648,939 | 40,976 | |||
Nu Skin Enterprises Inc. Class A | 709,112 | 40,171 | ||||
* | Coty Inc. Class A | 3,958,588 | 36,973 | |||
J & J Snack Foods Corp. | 211,180 | 36,832 |
Shares | Market Value ($000) | |||||
* | TreeHouse Foods Inc. | 805,357 | 35,855 | |||
* | Celsius Holdings Inc. | 462,610 | 35,200 | |||
Energizer Holdings Inc. | 800,781 | 34,418 | ||||
Edgewell Personal Care Co. | 773,499 | 33,957 | ||||
1 | B&G Foods Inc. | 920,542 | 30,194 | |||
PriceSmart Inc. | 331,336 | 30,155 | ||||
* | Hostess Brands Inc. Class A | 1,845,020 | 29,871 | |||
* | United Natural Foods Inc. | 799,002 | 29,547 | |||
Coca-Cola Consolidated Inc. | 65,740 | 26,436 | ||||
* | Central Garden & Pet Co. Class A | 537,945 | 25,983 | |||
Vector Group Ltd. | 1,749,706 | 24,741 | ||||
Reynolds Consumer Products Inc. | 788,138 | 23,920 | ||||
Cal-Maine Foods Inc. | 540,110 | 19,557 | ||||
* | Beauty Health Co. | 1,128,602 | 18,961 | |||
Universal Corp. | 332,016 | 18,915 | ||||
Inter Parfums Inc. | 251,993 | 18,144 | ||||
* | BellRing Brands Inc. Class A | 571,730 | 17,918 | |||
Utz Brands Inc. | 733,464 | 15,982 | ||||
* | USANA Health Sciences Inc. | 155,357 | 15,913 | |||
* | Pilgrim's Pride Corp. | 701,976 | 15,570 | |||
National Beverage Corp. | 329,155 | 15,546 | ||||
Calavo Growers Inc. | 240,593 | 15,258 | ||||
* | elf Beauty Inc. | 550,533 | 14,941 | |||
* | Chefs' Warehouse Inc. | 463,458 | 14,752 | |||
Fresh Del Monte Produce Inc. | 427,883 | 14,069 | ||||
Seaboard Corp. | 3,616 | 13,989 | ||||
*,1 | AppHarvest Inc. | 855,723 | 13,692 | |||
Andersons Inc. | 446,972 | 13,646 | ||||
1 | Albertsons Cos. Inc. Class A | 677,640 | 13,322 | |||
MGP Ingredients Inc. | 190,894 | 12,912 | ||||
* | Rite Aid Corp. | 779,938 | 12,713 | |||
Weis Markets Inc. | 233,927 | 12,085 | ||||
Ingles Markets Inc. Class A | 203,653 | 11,867 | ||||
*,1 | Tattooed Chef Inc. | 538,003 | 11,540 | |||
*,1 | 22nd Century Group Inc. | 2,321,741 | 10,750 | |||
John B Sanfilippo & Son Inc. | 117,084 | 10,370 | ||||
1 | SpartanNash Co. | 516,044 | 9,965 | |||
Tootsie Roll Industries Inc. | 264,454 | 8,968 | ||||
* | Central Garden & Pet Co. | 158,849 | 8,408 | |||
Turning Point Brands Inc. | 160,924 | 7,366 | ||||
* | Veru Inc. | 858,604 | 6,929 | |||
* | Whole Earth Brands Inc. | 441,948 | 6,408 | |||
* | Duckhorn Portfolio Inc. | 273,391 | 6,031 | |||
* | Honest Co. Inc. | 366,153 | 5,928 | |||
* | Seneca Foods Corp. Class A | 110,362 | 5,637 | |||
* | Vital Farms Inc. | 218,060 | 4,352 | |||
* | Landec Corp. | 382,884 | 4,307 | |||
Nature's Sunshine Products Inc. | 243,161 | 4,224 | ||||
* | NewAge Inc. | 1,809,845 | 4,036 | |||
Limoneira Co. | 188,660 | 3,311 | ||||
*,1 | LifeMD Inc. | 255,395 | 3,009 | |||
Village Super Market Inc. Class A | 126,834 | 2,982 | ||||
*,1 | HF Foods Group Inc. | 542,704 | 2,871 | |||
* | Farmer Bros Co. | 221,822 | 2,815 | |||
* | Mission Produce Inc. | 122,462 | 2,536 | |||
Alico Inc. | 68,920 | 2,454 | ||||
Oil-Dri Corp. of America | 65,419 | 2,236 | ||||
Natural Grocers by Vitamin Cottage Inc. | 180,918 | 1,943 | ||||
* | S&W Seed Co. | 489,851 | 1,783 | |||
*,1 | Alkaline Water Co. Inc. | 1,090,480 | 1,668 | |||
* | Lifevantage Corp. | 196,129 | 1,442 |
Shares | Market Value ($000) | |||||
* | Laird Superfood Inc. | 46,587 | 1,392 | |||
* | Natural Alternatives International Inc. | 75,391 | 1,277 | |||
* | Revlon Inc. Class A | 98,546 | 1,265 | |||
* | Reed's Inc. | 1,121,061 | 1,143 | |||
* | Willamette Valley Vineyards Inc. | 73,119 | 1,000 | |||
* | Arcadia Biosciences Inc. | 301,942 | 897 | |||
Natural Health Trends Corp. | 113,755 | 795 | ||||
*,1 | RiceBran Technologies | 697,387 | 788 | |||
United-Guardian Inc. | 52,397 | 785 | ||||
* | Rocky Mountain Chocolate Factory Inc. | 96,131 | 733 | |||
* | Guardion Health Sciences Inc. | 273,672 | 482 | |||
* | Lifeway Foods Inc. | 87,868 | 455 | |||
Ocean Bio-Chem Inc. | 31,116 | 380 | ||||
* | Eastside Distilling Inc. | 127,922 | 359 | |||
* | Coffee Holding Co. Inc. | 55,673 | 299 | |||
* | Summer Infant Inc. | 18,966 | 240 | |||
Mannatech Inc. | 7,406 | 204 | ||||
* | Ifresh Inc. | 140,286 | 198 | |||
* | Cyanotech Corp. | 51,994 | 158 | |||
* | MedAvail Holdings Inc. | 9,559 | 117 | |||
* | Bridgford Foods Corp. | 4,554 | 60 | |||
*,1 | Jupiter Wellness Inc. | 6,900 | 31 | |||
3,028,176 | ||||||
Energy (2.37%) | ||||||
* | Cheniere Energy Inc. | 3,265,988 | 283,292 | |||
Texas Pacific Land Corp. | 109,444 | 175,082 | ||||
Targa Resources Corp. | 3,223,583 | 143,288 | ||||
Ovintiv Inc. | 3,670,323 | 115,505 | ||||
Cimarex Energy Co. | 1,453,652 | 105,317 | ||||
* | EQT Corp. | 3,961,779 | 88,189 | |||
HollyFrontier Corp. | 2,092,511 | 68,844 | ||||
* | ChampionX Corp. | 2,663,988 | 68,331 | |||
PDC Energy Inc. | 1,390,024 | 63,649 | ||||
* | Range Resources Corp. | 3,629,357 | 60,828 | |||
* | Antero Resources Corp. | 3,878,676 | 58,296 | |||
Matador Resources Co. | 1,529,184 | 55,066 | ||||
* | Denbury Inc. | 705,190 | 54,144 | |||
* | TechnipFMC plc | 5,954,893 | 53,892 | |||
* | Southwestern Energy Co. | 9,224,451 | 52,303 | |||
Helmerich & Payne Inc. | 1,506,629 | 49,161 | ||||
Equitrans Midstream Corp. | 5,682,736 | 48,360 | ||||
Murphy Oil Corp. | 2,027,117 | 47,191 | ||||
* | CNX Resources Corp. | 3,129,425 | 42,748 | |||
* | Renewable Energy Group Inc. | 670,544 | 41,802 | |||
Antero Midstream Corp. | 3,981,242 | 41,365 | ||||
SM Energy Co. | 1,531,553 | 37,722 | ||||
*,1 | Callon Petroleum Co. | 650,849 | 37,547 | |||
*,1 | Transocean Ltd. | 8,266,750 | 37,366 | |||
Continental Resources Inc. | 897,576 | 34,135 | ||||
* | Magnolia Oil & Gas Corp. Class A | 2,035,269 | 31,811 | |||
*,1 | Whiting Petroleum Corp. | 544,629 | 29,709 | |||
World Fuel Services Corp. | 888,208 | 28,183 | ||||
Cactus Inc. Class A | 763,938 | 28,052 | ||||
Oasis Petroleum Inc. | 275,417 | 27,693 | ||||
New Fortress Energy Inc. Class A | 698,868 | 26,473 | ||||
Patterson-UTI Energy Inc. | 2,658,350 | 26,424 | ||||
1 | Core Laboratories NV | 644,650 | 25,109 | |||
Delek US Holdings Inc. | 1,023,757 | 22,134 | ||||
* | Oceaneering International Inc. | 1,407,367 | 21,913 | |||
* | PBF Energy Inc. Class A | 1,359,077 | 20,794 | |||
* | Green Plains Inc. | 602,537 | 20,257 |
Shares | Market Value ($000) | |||||
* | Kosmos Energy Ltd. | 5,763,808 | 19,943 | |||
*,1 | Gevo Inc. | 2,676,599 | 19,459 | |||
* | Centennial Resource Development Inc. Class A | 2,642,009 | 17,913 | |||
* | Liberty Oilfield Services Inc. Class A | 1,226,070 | 17,361 | |||
*,1 | Clean Energy Fuels Corp. | 1,637,479 | 16,620 | |||
Archrock Inc. | 1,812,580 | 16,150 | ||||
* | Dril-Quip Inc. | 477,172 | 16,143 | |||
* | DMC Global Inc. | 256,407 | 14,413 | |||
Northern Oil & Gas Inc. | 675,924 | 14,039 | ||||
* | Tellurian Inc. | 2,991,416 | 13,910 | |||
Bonanza Creek Energy Inc. | 276,503 | 13,015 | ||||
* | Arch Resources Inc. | 222,163 | 12,659 | |||
* | Laredo Petroleum Inc. | 133,525 | 12,390 | |||
* | US Silica Holdings Inc. | 1,060,353 | 12,258 | |||
* | Aspen Aerogels Inc. | 393,393 | 11,770 | |||
* | Helix Energy Solutions Group Inc. | 2,011,505 | 11,486 | |||
Brigham Minerals Inc. Class A | 524,243 | 11,161 | ||||
* | Par Pacific Holdings Inc. | 646,640 | 10,876 | |||
* | NexTier Oilfield Solutions Inc. | 2,252,565 | 10,722 | |||
* | Nabors Industries Ltd. | 92,853 | 10,608 | |||
* | ProPetro Holding Corp. | 1,144,569 | 10,484 | |||
* | Bristow Group Inc. Class A | 346,888 | 8,884 | |||
*,1 | Uranium Energy Corp. | 3,330,331 | 8,859 | |||
* | Contango Oil & Gas Co. | 1,936,738 | 8,367 | |||
* | CONSOL Energy Inc. | 437,705 | 8,084 | |||
International Seaways Inc. | 414,810 | 7,956 | ||||
* | Peabody Energy Corp. | 998,152 | 7,915 | |||
* | TETRA Technologies Inc. | 1,823,402 | 7,914 | |||
CVR Energy Inc. | 401,492 | 7,211 | ||||
* | REX American Resources Corp. | 78,116 | 7,044 | |||
* | Tidewater Inc. | 582,410 | 7,018 | |||
* | Talos Energy Inc. | 444,460 | 6,951 | |||
* | Oil States International Inc. | 882,340 | 6,926 | |||
*,1 | NextDecade Corp. | 1,635,039 | 6,753 | |||
* | W&T Offshore Inc. | 1,380,789 | 6,697 | |||
*,1 | Meta Materials Inc. | 881,550 | 6,603 | |||
Berry Corp. | 939,711 | 6,315 | ||||
* | Dorian LPG Ltd. | 409,949 | 5,788 | |||
* | Alto Ingredients Inc. | 931,682 | 5,693 | |||
* | Select Energy Services Inc. Class A | 919,653 | 5,555 | |||
* | Penn Virginia Corp. | 226,011 | 5,336 | |||
* | Comstock Resources Inc. | 782,228 | 5,217 | |||
* | Frank's International NV | 1,690,568 | 5,122 | |||
* | Vertex Energy Inc. | 380,370 | 5,032 | |||
* | Vine Energy Inc. Class A | 313,254 | 4,884 | |||
* | Newpark Resources Inc. | 1,318,574 | 4,562 | |||
Solaris Oilfield Infrastructure Inc. Class A | 422,365 | 4,114 | ||||
* | SilverBow Resources Inc. | 174,404 | 4,050 | |||
*,1 | Aemetis Inc. | 359,524 | 4,016 | |||
* | RPC Inc. | 798,352 | 3,952 | |||
* | Diamond S Shipping Inc. | 381,633 | 3,801 | |||
* | Earthstone Energy Inc. Class A | 337,304 | 3,734 | |||
* | FTS International Inc. Class A | 127,158 | 3,597 | |||
* | Centrus Energy Corp. Class A | 137,613 | 3,493 | |||
*,1 | Ring Energy Inc. | 1,097,498 | 3,271 | |||
Falcon Minerals Corp. | 587,838 | 2,986 | ||||
* | SandRidge Energy Inc. | 452,207 | 2,840 | |||
Altus Midstream Co. | 40,277 | 2,719 | ||||
* | VAALCO Energy Inc. | 759,457 | 2,468 | |||
* | Battalion Oil Corp. | 181,800 | 2,436 | |||
* | Mammoth Energy Services Inc. | 497,345 | 2,283 |
Shares | Market Value ($000) | |||||
* | Overseas Shipholding Group Inc. Class A | 1,084,453 | 2,266 | |||
* | Amplify Energy Corp. | 545,236 | 2,208 | |||
Evolution Petroleum Corp. | 435,404 | 2,160 | ||||
* | Goodrich Petroleum Corp. | 127,665 | 1,906 | |||
*,2 | Meta Materials Inc. Series A Class A | 1,758,570 | 1,899 | |||
* | Exterran Corp. | 391,342 | 1,863 | |||
* | Natural Gas Services Group Inc. | 179,377 | 1,844 | |||
NACCO Industries Inc. Class A | 60,211 | 1,568 | ||||
* | Geospace Technologies Corp. | 179,738 | 1,454 | |||
* | Forum Energy Technologies Inc. | 59,996 | 1,409 | |||
* | Epsilon Energy Ltd. | 270,604 | 1,353 | |||
* | SEACOR Marine Holdings Inc. | 290,748 | 1,282 | |||
PHX Minerals Inc. | 331,548 | 1,233 | ||||
* | Smart Sand Inc. | 337,456 | 1,124 | |||
*,1 | American Resources Corp. Class A | 424,610 | 1,083 | |||
* | Gulf Island Fabrication Inc. | 228,031 | 1,031 | |||
*,1 | ENGlobal Corp. | 265,263 | 804 | |||
*,1 | KLX Energy Services Holdings Inc. | 79,322 | 757 | |||
* | Hallador Energy Co. | 276,710 | 746 | |||
Adams Resources & Energy Inc. | 26,556 | 735 | ||||
* | Dawson Geophysical Co. | 260,463 | 680 | |||
*,1 | Lightbridge Corp. | 83,914 | 618 | |||
* | Nine Energy Service Inc. | 182,835 | 538 | |||
* | Ranger Energy Services Inc. Class A | 66,043 | 528 | |||
* | Profire Energy Inc. | 443,097 | 501 | |||
* | US Well Services Inc. Class A | 470,102 | 475 | |||
*,1 | Abraxas Petroleum Corp. | 143,730 | 464 | |||
* | ION Geophysical Corp. | 210,097 | 439 | |||
* | Nabors Industries Ltd. Warrants Exp. 06/11/2026 | 37,085 | 371 | |||
1 | Riley Exploration Permian Inc. | 12,410 | 360 | |||
*,1 | New Concept Energy Inc. | 54,202 | 331 | |||
* | Independence Contract Drilling Inc. | 75,420 | 324 | |||
* | MIND Technology Inc. | 165,870 | 322 | |||
* | NCS Multistage Holdings Inc. | 10,147 | 308 | |||
*,1 | Houston American Energy Corp. | 116,519 | 289 | |||
*,1 | US Energy Corp. Wyoming | 52,444 | 249 | |||
*,1 | Camber Energy Inc. | 374,831 | 247 | |||
* | PEDEVCO Corp. | 131,848 | 210 | |||
*,1 | Barnwell Industries Inc. | 62,082 | 205 | |||
* | PrimeEnergy Resources Corp. | 4,191 | 194 | |||
*,1 | Superior Drilling Products Inc. | 200,379 | 184 | |||
*,1 | Mexco Energy Corp. | 16,503 | 161 | |||
*,1 | Enservco Corp. | 76,526 | 125 | |||
*,1 | Nuverra Environmental Solutions Inc. | 56,792 | 123 | |||
*,1 | Miragen Therapeutics Inc. CVR | 330,960 | 7 | |||
*,1,2 | Harvest Natural Resources Inc. | 133,886 | — | |||
2,718,779 | ||||||
Financials (13.37%) | ||||||
Blackstone Group Inc. | 9,686,293 | 940,927 | ||||
KKR & Co. Inc. | 8,217,609 | 486,811 | ||||
Ally Financial Inc. | 5,223,741 | 260,351 | ||||
* | Markel Corp. | 195,392 | 231,874 | |||
* | Arch Capital Group Ltd. | 5,724,609 | 222,916 | |||
Signature Bank | 817,428 | 200,801 | ||||
Apollo Global Management Inc. | 2,996,880 | 186,406 | ||||
FactSet Research Systems Inc. | 535,944 | 179,868 | ||||
Fidelity National Financial Inc. | 4,103,637 | 178,344 | ||||
Brown & Brown Inc. | 3,328,044 | 176,852 | ||||
Annaly Capital Management Inc. | 19,765,438 | 175,517 | ||||
Equitable Holdings Inc. | 5,452,723 | 166,035 | ||||
LPL Financial Holdings Inc. | 1,127,676 | 152,214 |
Shares | Market Value ($000) | |||||
East West Bancorp Inc. | 2,002,215 | 143,539 | ||||
Western Alliance Bancorp | 1,465,296 | 136,053 | ||||
First Horizon Corp. | 7,792,338 | 134,652 | ||||
* | Alleghany Corp. | 198,288 | 132,272 | |||
Tradeweb Markets Inc. Class A | 1,485,236 | 125,592 | ||||
AGNC Investment Corp. | 7,389,809 | 124,814 | ||||
American Financial Group Inc. | 970,927 | 121,094 | ||||
* | Athene Holding Ltd. Class A | 1,764,799 | 119,124 | |||
Commerce Bancshares Inc. | 1,499,416 | 111,796 | ||||
Reinsurance Group of America Inc. | 956,708 | 109,065 | ||||
Starwood Property Trust Inc. | 4,082,274 | 106,833 | ||||
RenaissanceRe Holdings Ltd. | 704,342 | 104,820 | ||||
Voya Financial Inc. | 1,702,791 | 104,722 | ||||
SEI Investments Co. | 1,678,906 | 104,042 | ||||
Old Republic International Corp. | 4,029,294 | 100,370 | ||||
Ares Management Corp. Class A | 1,566,478 | 99,612 | ||||
First Financial Bankshares Inc. | 2,017,128 | 99,101 | ||||
First American Financial Corp. | 1,563,919 | 97,510 | ||||
SLM Corp. | 4,633,197 | 97,019 | ||||
Jefferies Financial Group Inc. | 2,824,872 | 96,611 | ||||
* | Coinbase Global Inc. Class A | 379,405 | 96,103 | |||
Stifel Financial Corp. | 1,478,269 | 95,881 | ||||
Prosperity Bancshares Inc. | 1,322,283 | 94,940 | ||||
Pinnacle Financial Partners Inc. | 1,072,431 | 94,685 | ||||
Janus Henderson Group plc | 2,423,521 | 94,057 | ||||
Synovus Financial Corp. | 2,093,699 | 91,872 | ||||
Affiliated Managers Group Inc. | 590,363 | 91,040 | ||||
Cullen/Frost Bankers Inc. | 798,677 | 89,452 | ||||
Primerica Inc. | 560,847 | 85,888 | ||||
First Citizens BancShares Inc. Class A | 102,522 | 85,374 | ||||
Popular Inc. | 1,132,991 | 85,031 | ||||
South State Corp. | 1,004,259 | 82,108 | ||||
Evercore Inc. Class A | 580,121 | 81,664 | ||||
OneMain Holdings Inc. | 1,306,861 | 78,294 | ||||
Morningstar Inc. | 303,946 | 78,148 | ||||
Valley National Bancorp | 5,808,989 | 78,015 | ||||
Carlyle Group Inc. | 1,647,242 | 76,564 | ||||
Interactive Brokers Group Inc. Class A | 1,136,645 | 74,712 | ||||
Glacier Bancorp Inc. | 1,347,526 | 74,222 | ||||
*,1 | Credit Acceptance Corp. | 162,717 | 73,891 | |||
Lazard Ltd. Class A | 1,593,937 | 72,126 | ||||
Bank OZK | 1,705,511 | 71,904 | ||||
CIT Group Inc. | 1,391,825 | 71,804 | ||||
Essent Group Ltd. | 1,592,664 | 71,590 | ||||
New York Community Bancorp Inc. | 6,487,642 | 71,494 | ||||
New Residential Investment Corp. | 6,640,511 | 70,323 | ||||
United Bankshares Inc. | 1,903,876 | 69,491 | ||||
Selective Insurance Group Inc. | 853,340 | 69,249 | ||||
Erie Indemnity Co. Class A | 354,624 | 68,567 | ||||
Hanover Insurance Group Inc. | 502,635 | 68,177 | ||||
Webster Financial Corp. | 1,276,478 | 68,087 | ||||
PacWest Bancorp | 1,644,392 | 67,683 | ||||
Sterling Bancorp | 2,722,571 | 67,493 | ||||
Blackstone Mortgage Trust Inc. Class A | 2,068,153 | 65,953 | ||||
MGIC Investment Corp. | 4,803,080 | 65,322 | ||||
Kemper Corp. | 860,736 | 63,608 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,109,823 | 62,317 | ||||
Radian Group Inc. | 2,717,317 | 60,460 | ||||
Wintrust Financial Corp. | 799,125 | 60,438 | ||||
Houlihan Lokey Inc. Class A | 731,110 | 59,797 | ||||
* | Open Lending Corp. Class A | 1,370,448 | 59,053 |
Shares | Market Value ($000) | |||||
RLI Corp. | 560,042 | 58,575 | ||||
Community Bank System Inc. | 761,985 | 57,644 | ||||
Umpqua Holdings Corp. | 3,121,153 | 57,585 | ||||
UMB Financial Corp. | 618,368 | 57,545 | ||||
Pacific Premier Bancorp Inc. | 1,345,699 | 56,910 | ||||
BankUnited Inc. | 1,322,513 | 56,458 | ||||
* | Brighthouse Financial Inc. | 1,216,568 | 55,403 | |||
Axis Capital Holdings Ltd. | 1,122,894 | 55,033 | ||||
Eastern Bankshares Inc. | 2,668,901 | 54,899 | ||||
* | Trupanion Inc. | 472,328 | 54,365 | |||
FNB Corp. | 4,401,346 | 54,269 | ||||
Hancock Whitney Corp. | 1,207,063 | 53,642 | ||||
Home BancShares Inc. | 2,149,755 | 53,056 | ||||
First Hawaiian Inc. | 1,824,319 | 51,701 | ||||
Assured Guaranty Ltd. | 1,068,208 | 50,719 | ||||
Ameris Bancorp | 994,095 | 50,331 | ||||
Kinsale Capital Group Inc. | 304,886 | 50,236 | ||||
White Mountains Insurance Group Ltd. | 43,491 | 49,929 | ||||
Navient Corp. | 2,530,047 | 48,906 | ||||
Moelis & Co. Class A | 859,637 | 48,905 | ||||
Chimera Investment Corp. | 3,245,092 | 48,871 | ||||
Bank of Hawaii Corp. | 572,902 | 48,250 | ||||
ServisFirst Bancshares Inc. | 674,184 | 45,831 | ||||
Investors Bancorp Inc. | 3,213,570 | 45,826 | ||||
* | Texas Capital Bancshares Inc. | 721,427 | 45,803 | |||
PROG Holdings Inc. | 943,438 | 45,408 | ||||
Federated Hermes Inc. Class B | 1,327,115 | 45,002 | ||||
Simmons First National Corp. Class A | 1,533,475 | 44,992 | ||||
Associated Banc-Corp | 2,178,086 | 44,607 | ||||
Walker & Dunlop Inc. | 421,037 | 43,948 | ||||
* | Enstar Group Ltd. | 183,618 | 43,870 | |||
FirstCash Inc. | 569,228 | 43,512 | ||||
CNO Financial Group Inc. | 1,836,550 | 43,379 | ||||
Artisan Partners Asset Management Inc. Class A | 844,837 | 42,935 | ||||
Hamilton Lane Inc. Class A | 461,279 | 42,032 | ||||
Cathay General Bancorp | 1,055,423 | 41,541 | ||||
Old National Bancorp | 2,354,589 | 41,464 | ||||
* | Cannae Holdings Inc. | 1,219,401 | 41,350 | |||
Atlantic Union Bankshares Corp. | 1,120,683 | 40,591 | ||||
American Equity Investment Life Holding Co. | 1,224,079 | 39,562 | ||||
Independent Bank Group Inc. | 526,124 | 38,923 | ||||
Columbia Banking System Inc. | 1,009,073 | 38,910 | ||||
BancorpSouth Bank | 1,368,142 | 38,759 | ||||
United Community Banks Inc. | 1,201,871 | 38,472 | ||||
1 | Rocket Cos. Inc. Class A | 1,948,947 | 37,712 | |||
CVB Financial Corp. | 1,811,293 | 37,295 | ||||
Cadence Bancorp Class A | 1,783,925 | 37,248 | ||||
BOK Financial Corp. | 428,317 | 37,092 | ||||
Fulton Financial Corp. | 2,328,571 | 36,745 | ||||
* | Green Dot Corp. Class A | 775,676 | 36,340 | |||
First Bancorp (XNYS) | 3,013,706 | 35,923 | ||||
Independent Bank Corp. (Massachusetts) | 473,877 | 35,778 | ||||
Santander Consumer USA Holdings Inc. | 984,783 | 35,767 | ||||
* | Focus Financial Partners Inc. Class A | 711,438 | 34,505 | |||
WesBanco Inc. | 966,486 | 34,436 | ||||
* | Axos Financial Inc. | 735,609 | 34,125 | |||
Hilltop Holdings Inc. | 934,720 | 34,024 | ||||
International Bancshares Corp. | 783,394 | 33,639 | ||||
PennyMac Financial Services Inc. | 539,754 | 33,314 | ||||
* | Silvergate Capital Corp. Class A | 292,383 | 33,133 | |||
* | LendingTree Inc. | 156,240 | 33,104 |
Shares | Market Value ($000) | |||||
Renasant Corp. | 808,616 | 32,345 | ||||
Washington Federal Inc. | 1,014,365 | 32,237 | ||||
* | Mr Cooper Group Inc. | 969,215 | 32,042 | |||
First Financial Bancorp | 1,351,830 | 31,944 | ||||
First Merchants Corp. | 756,301 | 31,515 | ||||
First Midwest Bancorp Inc. | 1,578,991 | 31,311 | ||||
Arbor Realty Trust Inc. | 1,740,443 | 31,015 | ||||
Virtu Financial Inc. Class A | 1,116,833 | 30,858 | ||||
WSFS Financial Corp. | 657,683 | 30,641 | ||||
Goosehead Insurance Inc. Class A | 237,721 | 30,262 | ||||
* | Upstart Holdings Inc. | 241,756 | 30,195 | |||
PennyMac Mortgage Investment Trust | 1,403,251 | 29,552 | ||||
Two Harbors Investment Corp. | 3,892,056 | 29,424 | ||||
Apollo Commercial Real Estate Finance Inc. | 1,830,599 | 29,198 | ||||
Flagstar Bancorp Inc. | 683,799 | 28,904 | ||||
Sandy Spring Bancorp Inc. | 653,804 | 28,852 | ||||
Virtus Investment Partners Inc. | 102,540 | 28,483 | ||||
* | Genworth Financial Inc. Class A | 7,250,060 | 28,275 | |||
MFA Financial Inc. | 6,152,569 | 28,240 | ||||
Towne Bank | 925,058 | 28,140 | ||||
*,1 | Lemonade Inc. | 253,743 | 27,762 | |||
* | NMI Holdings Inc. Class A | 1,232,744 | 27,712 | |||
BGC Partners Inc. Class A | 4,854,945 | 27,528 | ||||
Trustmark Corp. | 886,904 | 27,317 | ||||
Cohen & Steers Inc. | 330,845 | 27,159 | ||||
Seacoast Banking Corp. of Florida | 793,794 | 27,108 | ||||
Heartland Financial USA Inc. | 564,342 | 26,518 | ||||
Great Western Bancorp Inc. | 797,481 | 26,149 | ||||
Live Oak Bancshares Inc. | 441,990 | 26,077 | ||||
Argo Group International Holdings Ltd. | 502,410 | 26,040 | ||||
Banner Corp. | 479,723 | 26,006 | ||||
Piper Sandler Cos. | 197,528 | 25,592 | ||||
Eagle Bancorp Inc. | 454,065 | 25,464 | ||||
* | PRA Group Inc. | 661,710 | 25,456 | |||
Veritex Holdings Inc. | 709,962 | 25,140 | ||||
Mercury General Corp. | 385,605 | 25,045 | ||||
* | LendingClub Corp. | 1,369,951 | 24,837 | |||
Northwest Bancshares Inc. | 1,802,622 | 24,588 | ||||
New York Mortgage Trust Inc. | 5,472,562 | 24,462 | ||||
PJT Partners Inc. Class A | 340,715 | 24,320 | ||||
* | Triumph Bancorp Inc. | 326,595 | 24,250 | |||
Hope Bancorp Inc. | 1,691,294 | 23,983 | ||||
* | Palomar Holdings Inc. | 310,842 | 23,456 | |||
Park National Corp. | 196,064 | 23,022 | ||||
Provident Financial Services Inc. | 998,043 | 22,845 | ||||
Nelnet Inc. Class A | 299,291 | 22,516 | ||||
Westamerica Bancorp | 384,555 | 22,316 | ||||
Meta Financial Group Inc. | 438,890 | 22,221 | ||||
NBT Bancorp Inc. | 607,112 | 21,838 | ||||
* | eHealth Inc. | 372,660 | 21,763 | |||
Lakeland Financial Corp. | 344,687 | 21,247 | ||||
Horace Mann Educators Corp. | 567,198 | 21,225 | ||||
Enterprise Financial Services Corp. | 451,311 | 20,936 | ||||
Capitol Federal Financial Inc. | 1,776,383 | 20,926 | ||||
Stewart Information Services Corp. | 363,315 | 20,596 | ||||
* | Encore Capital Group Inc. | 434,582 | 20,595 | |||
Ladder Capital Corp. | 1,776,838 | 20,505 | ||||
First Interstate BancSystem Inc. Class A | 486,865 | 20,366 | ||||
Berkshire Hills Bancorp Inc. | 742,122 | 20,342 | ||||
Brightsphere Investment Group Inc. | 854,297 | 20,016 | ||||
James River Group Holdings Ltd. | 527,601 | 19,796 |
Shares | Market Value ($000) | |||||
Broadmark Realty Capital Inc. | 1,819,109 | 19,264 | ||||
B. Riley Financial Inc. | 254,481 | 19,213 | ||||
Redwood Trust Inc. | 1,560,017 | 18,829 | ||||
First Commonwealth Financial Corp. | 1,313,306 | 18,478 | ||||
American National Group Inc. | 123,978 | 18,417 | ||||
* | Enova International Inc. | 527,828 | 18,057 | |||
Boston Private Financial Holdings Inc. | 1,209,387 | 17,838 | ||||
ProAssurance Corp. | 782,664 | 17,806 | ||||
First Busey Corp. | 714,378 | 17,617 | ||||
Employers Holdings Inc. | 410,232 | 17,558 | ||||
Dime Community Bancshares Inc. | 519,535 | 17,467 | ||||
CNA Financial Corp. | 383,398 | 17,441 | ||||
FB Financial Corp. | 462,349 | 17,255 | ||||
S&T Bancorp Inc. | 549,885 | 17,211 | ||||
* | BRP Group Inc. Class A | 644,998 | 17,189 | |||
* | Bancorp Inc. | 742,383 | 17,082 | |||
OceanFirst Financial Corp. | 814,481 | 16,974 | ||||
First Bancorp (XNGS) | 414,290 | 16,949 | ||||
AMERISAFE Inc. | 280,848 | 16,764 | ||||
National Bank Holdings Corp. Class A | 444,025 | 16,758 | ||||
* | Customers Bancorp Inc. | 429,659 | 16,752 | |||
TriCo Bancshares | 390,837 | 16,642 | ||||
BancFirst Corp. | 265,761 | 16,591 | ||||
OFG Bancorp | 744,548 | 16,469 | ||||
Southside Bancshares Inc. | 423,492 | 16,190 | ||||
Brookline Bancorp Inc. | 1,069,459 | 15,988 | ||||
Cowen Inc. Class A | 387,820 | 15,920 | ||||
City Holding Co. | 210,677 | 15,851 | ||||
Stock Yards Bancorp Inc. | 309,166 | 15,733 | ||||
Meridian Bancorp Inc. | 766,511 | 15,683 | ||||
1 | Invesco Mortgage Capital Inc. | 4,018,197 | 15,671 | |||
Safety Insurance Group Inc. | 193,276 | 15,130 | ||||
Premier Financial Corp. | 508,214 | 14,438 | ||||
* | StoneX Group Inc. | 236,696 | 14,360 | |||
* | Donnelley Financial Solutions Inc. | 427,408 | 14,104 | |||
StepStone Group Inc. Class A | 394,866 | 13,583 | ||||
German American Bancorp Inc. | 364,173 | 13,547 | ||||
Ready Capital Corp. | 839,815 | 13,328 | ||||
ConnectOne Bancorp Inc. | 508,891 | 13,318 | ||||
TFS Financial Corp. | 647,573 | 13,146 | ||||
Heritage Financial Corp. | 523,099 | 13,088 | ||||
Washington Trust Bancorp Inc. | 253,887 | 13,037 | ||||
First Foundation Inc. | 576,017 | 12,966 | ||||
Tompkins Financial Corp. | 163,432 | 12,676 | ||||
Preferred Bank | 198,857 | 12,582 | ||||
Origin Bancorp Inc. | 293,522 | 12,463 | ||||
Ellington Financial Inc. | 645,559 | 12,362 | ||||
Bryn Mawr Bank Corp. | 290,239 | 12,245 | ||||
* | Blucora Inc. | 696,412 | 12,055 | |||
1st Source Corp. | 256,748 | 11,929 | ||||
* | Selectquote Inc. | 616,095 | 11,866 | |||
* | Columbia Financial Inc. | 688,242 | 11,852 | |||
Lakeland Bancorp Inc. | 670,042 | 11,712 | ||||
HomeStreet Inc. | 287,444 | 11,710 | ||||
Banc of California Inc. | 659,840 | 11,574 | ||||
* | Oscar Health Inc. Class A | 535,698 | 11,518 | |||
Kearny Financial Corp. | 963,376 | 11,512 | ||||
ARMOUR Residential REIT Inc. | 991,390 | 11,322 | ||||
HarborOne Bancorp Inc. | 787,365 | 11,291 | ||||
TPG RE Finance Trust Inc. | 809,279 | 10,885 | ||||
Granite Point Mortgage Trust Inc. | 736,222 | 10,859 |
Shares | Market Value ($000) | |||||
BrightSpire Capital Inc. | 1,154,207 | 10,850 | ||||
Central Pacific Financial Corp. | 411,613 | 10,727 | ||||
* | Ambac Financial Group Inc. | 678,598 | 10,627 | |||
First Bancshares Inc. | 283,601 | 10,615 | ||||
Univest Financial Corp. | 389,265 | 10,265 | ||||
* | SiriusPoint Ltd. | 1,019,353 | 10,265 | |||
* | Watford Holdings Ltd. | 292,346 | 10,229 | |||
Northfield Bancorp Inc. | 617,232 | 10,123 | ||||
Federal Agricultural Mortgage Corp. Class C | 101,301 | 10,019 | ||||
WisdomTree Investments Inc. | 1,612,567 | 9,998 | ||||
TrustCo Bank Corp. | 288,587 | 9,922 | ||||
Flushing Financial Corp. | 459,760 | 9,853 | ||||
Heritage Commerce Corp. | 880,334 | 9,798 | ||||
* | CrossFirst Bankshares Inc. | 697,746 | 9,594 | |||
Altabancorp | 219,531 | 9,508 | ||||
Merchants Bancorp | 242,162 | 9,502 | ||||
QCR Holdings Inc. | 197,564 | 9,501 | ||||
Allegiance Bancshares Inc. | 245,436 | 9,435 | ||||
*,1 | MetroMile Inc. | 1,022,727 | 9,358 | |||
Camden National Corp. | 195,516 | 9,338 | ||||
* | World Acceptance Corp. | 57,142 | 9,156 | |||
1 | HCI Group Inc. | 90,685 | 9,017 | |||
United Fire Group Inc. | 320,061 | 8,875 | ||||
Capstead Mortgage Corp. | 1,431,214 | 8,788 | ||||
Horizon Bancorp Inc. | 499,270 | 8,702 | ||||
* | GoHealth Inc. Class A | 768,726 | 8,617 | |||
1 | Orchid Island Capital Inc. | 1,633,724 | 8,479 | |||
Ares Commercial Real Estate Corp. | 566,795 | 8,326 | ||||
* | Nicolet Bankshares Inc. | 117,963 | 8,298 | |||
*,1 | Root Inc. Class A | 758,525 | 8,207 | |||
Cambridge Bancorp | 98,381 | 8,165 | ||||
First Mid Bancshares Inc. | 201,464 | 8,161 | ||||
Dynex Capital Inc. | 432,268 | 8,066 | ||||
Midland States Bancorp Inc. | 305,700 | 8,031 | ||||
Byline Bancorp Inc. | 353,581 | 8,002 | ||||
Community Trust Bancorp Inc. | 197,197 | 7,963 | ||||
* | Atlantic Capital Bancshares Inc. | 310,140 | 7,896 | |||
Hanmi Financial Corp. | 403,075 | 7,683 | ||||
Arrow Financial Corp. | 213,523 | 7,676 | ||||
Peapack-Gladstone Financial Corp. | 244,762 | 7,605 | ||||
KKR Real Estate Finance Trust Inc. | 349,930 | 7,569 | ||||
Great Southern Bancorp Inc. | 139,541 | 7,521 | ||||
* | TriState Capital Holdings Inc. | 365,239 | 7,447 | |||
* | MBIA Inc. | 676,725 | 7,444 | |||
National Western Life Group Inc. Class A | 32,569 | 7,308 | ||||
First Community Bankshares Inc. | 238,636 | 7,123 | ||||
Diamond Hill Investment Group Inc. | 42,238 | 7,067 | ||||
* | Metropolitan Bank Holding Corp. | 117,222 | 7,059 | |||
First Financial Corp. | 167,769 | 6,848 | ||||
Peoples Bancorp Inc. | 228,240 | 6,760 | ||||
Hingham Institution For Savings | 23,225 | 6,747 | ||||
Business First Bancshares Inc. | 290,288 | 6,662 | ||||
1 | UWM Holdings Corp. | 787,000 | 6,650 | |||
Sculptor Capital Management Inc. Class A | 269,408 | 6,625 | ||||
CBTX Inc. | 237,870 | 6,496 | ||||
Bank First Corp. | 93,063 | 6,493 | ||||
Amalgamated Financial Corp. | 415,380 | 6,492 | ||||
Reliant Bancorp Inc. | 233,622 | 6,478 | ||||
* | Equity Bancshares Inc. Class A | 212,401 | 6,476 | |||
MidWestOne Financial Group Inc. | 224,575 | 6,461 | ||||
Republic Bancorp Inc. Class A | 138,975 | 6,411 |
Shares | Market Value ($000) | |||||
Victory Capital Holdings Inc. Class A | 198,281 | 6,402 | ||||
Bar Harbor Bankshares | 222,943 | 6,381 | ||||
MVB Financial Corp. | 148,795 | 6,348 | ||||
Mercantile Bank Corp. | 208,744 | 6,304 | ||||
* | Amerant Bancorp Inc. Class A | 293,441 | 6,274 | |||
* | AssetMark Financial Holdings Inc. | 248,706 | 6,233 | |||
First of Long Island Corp. | 291,318 | 6,185 | ||||
Universal Insurance Holdings Inc. | 439,868 | 6,105 | ||||
Independent Bank Corp. (Michigan) | 281,181 | 6,104 | ||||
Financial Institutions Inc. | 202,822 | 6,085 | ||||
Regional Management Corp. | 129,527 | 6,028 | ||||
HomeTrust Bancshares Inc. | 215,943 | 6,025 | ||||
Alerus Financial Corp. | 207,616 | 6,023 | ||||
Citizens & Northern Corp. | 239,548 | 5,869 | ||||
Oppenheimer Holdings Inc. Class A | 112,122 | 5,700 | ||||
CNB Financial Corp. | 249,505 | 5,694 | ||||
Capstar Financial Holdings Inc. | 277,423 | 5,687 | ||||
Sierra Bancorp | 216,755 | 5,516 | ||||
* | Southern First Bancshares Inc. | 106,633 | 5,455 | |||
* | Bridgewater Bancshares Inc. | 337,396 | 5,449 | |||
Waterstone Financial Inc. | 277,169 | 5,449 | ||||
West Bancorp Inc. | 191,999 | 5,328 | ||||
American National Bankshares Inc. | 170,162 | 5,290 | ||||
Century Bancorp Inc. Class A | 45,583 | 5,196 | ||||
SmartFinancial Inc. | 214,269 | 5,145 | ||||
A-Mark Precious Metals Inc. | 110,251 | 5,127 | ||||
Civista Bancshares Inc. | 231,923 | 5,125 | ||||
Metrocity Bankshares Inc. | 289,352 | 5,067 | ||||
* | Oportun Financial Corp. | 252,253 | 5,053 | |||
Farmers National Banc Corp. | 319,673 | 4,958 | ||||
GCM Grosvenor Inc. Class A | 464,400 | 4,839 | ||||
* | EZCORP Inc. Class A | 789,526 | 4,761 | |||
Independence Holding Co. | 102,073 | 4,728 | ||||
Guaranty Bancshares Inc. | 137,281 | 4,677 | ||||
Capital City Bank Group Inc. | 180,813 | 4,663 | ||||
FS Bancorp Inc. | 65,074 | 4,638 | ||||
Peoples Financial Services Corp. | 107,554 | 4,582 | ||||
Great Ajax Corp. | 351,693 | 4,565 | ||||
Blue Ridge Bankshares Inc. | 259,250 | 4,542 | ||||
Mid Penn Bancorp Inc. | 165,244 | 4,536 | ||||
Bank of Marin Bancorp | 142,080 | 4,532 | ||||
First Bancorp Inc. | 150,877 | 4,443 | ||||
First Choice Bancorp | 145,885 | 4,442 | ||||
First Internet Bancorp | 142,650 | 4,419 | ||||
Northrim Bancorp Inc. | 103,326 | 4,417 | ||||
Home Bancorp Inc. | 115,411 | 4,398 | ||||
Primis Financial Corp. | 287,971 | 4,394 | ||||
Southern Missouri Bancorp Inc. | 96,899 | 4,357 | ||||
* | Carter Bankshares Inc. | 344,047 | 4,304 | |||
Spirit of Texas Bancshares Inc. | 182,248 | 4,163 | ||||
State Auto Financial Corp. | 242,790 | 4,157 | ||||
Curo Group Holdings Corp. | 244,120 | 4,150 | ||||
Bank of Commerce Holdings | 270,412 | 4,062 | ||||
Community Bankers Trust Corp. | 349,305 | 3,961 | ||||
Old Second Bancorp Inc. | 315,993 | 3,918 | ||||
Provident Bancorp Inc. | 240,038 | 3,915 | ||||
* | Select Bancorp Inc. | 242,107 | 3,903 | |||
Investors Title Co. | 21,152 | 3,694 | ||||
Marlin Business Services Corp. | 160,638 | 3,656 | ||||
RBB Bancorp | 148,988 | 3,608 | ||||
* | Ocwen Financial Corp. | 115,930 | 3,592 |
Shares | Market Value ($000) | |||||
Orrstown Financial Services Inc. | 154,571 | 3,566 | ||||
* | Coastal Financial Corp. | 124,583 | 3,558 | |||
Territorial Bancorp Inc. | 135,398 | 3,516 | ||||
Heritage Insurance Holdings Inc. | 405,975 | 3,483 | ||||
Enterprise Bancorp Inc. | 105,588 | 3,458 | ||||
South Plains Financial Inc. | 148,800 | 3,442 | ||||
PCSB Financial Corp. | 187,862 | 3,413 | ||||
* | Maiden Holdings Ltd. | 1,005,248 | 3,388 | |||
* | Howard Bancorp Inc. | 209,353 | 3,377 | |||
* | Citizens Inc. Class A | 636,472 | 3,367 | |||
1 | ACNB Corp. | 120,407 | 3,361 | |||
Red River Bancshares Inc. | 66,269 | 3,347 | ||||
* | Atlanticus Holdings Corp. | 84,031 | 3,336 | |||
1 | Farmers & Merchants Bancorp Inc. | 152,161 | 3,320 | |||
* | Professional Holding Corp. Class A | 183,628 | 3,309 | |||
Greenhill & Co. Inc. | 211,508 | 3,291 | ||||
* | Republic First Bancorp Inc. | 818,442 | 3,266 | |||
Investar Holding Corp. | 141,742 | 3,244 | ||||
First Business Financial Services Inc. | 119,155 | 3,226 | ||||
Western Asset Mortgage Capital Corp. | 992,747 | 3,226 | ||||
* | BayCom Corp. | 177,771 | 3,191 | |||
Northeast Bank | 106,577 | 3,183 | ||||
PCB Bancorp | 196,935 | 3,171 | ||||
First Bank | 233,730 | 3,165 | ||||
Shore Bancshares Inc. | 188,076 | 3,150 | ||||
National Bankshares Inc. | 88,924 | 3,113 | ||||
AG Mortgage Investment Trust Inc. | 725,046 | 3,096 | ||||
Evans Bancorp Inc. | 83,333 | 3,092 | ||||
Western New England Bancorp Inc. | 378,578 | 3,085 | ||||
BCB Bancorp Inc. | 224,581 | 3,021 | ||||
Macatawa Bank Corp. | 337,024 | 2,949 | ||||
* | Greenlight Capital Re Ltd. Class A | 322,459 | 2,944 | |||
LCNB Corp. | 179,044 | 2,931 | ||||
Ames National Corp. | 118,092 | 2,894 | ||||
Mackinac Financial Corp. | 145,023 | 2,866 | ||||
Premier Financial Bancorp Inc. | 169,639 | 2,858 | ||||
Luther Burbank Corp. | 236,374 | 2,803 | ||||
Donegal Group Inc. Class A | 191,590 | 2,791 | ||||
Fidelity D&D Bancorp Inc. | 49,684 | 2,688 | ||||
Norwood Financial Corp. | 103,366 | 2,688 | ||||
* | Pacific Mercantile Bancorp | 312,577 | 2,688 | |||
Community Financial Corp. | 76,717 | 2,647 | ||||
Cherry Hill Mortgage Investment Corp. | 267,036 | 2,633 | ||||
Summit Financial Group Inc. | 119,570 | 2,632 | ||||
Tiptree Inc. Class A | 278,722 | 2,592 | ||||
Westwood Holdings Group Inc. | 118,862 | 2,586 | ||||
* | Safeguard Scientifics Inc. | 332,225 | 2,578 | |||
Virginia National Bankshares Corp. | 66,267 | 2,577 | ||||
* | ACRES Commercial Realty Corp. | 159,052 | 2,554 | |||
Central Valley Community Bancorp | 125,918 | 2,537 | ||||
First Northwest Bancorp | 143,194 | 2,513 | ||||
Timberland Bancorp Inc. | 88,996 | 2,503 | ||||
* | SWK Holdings Corp. | 140,901 | 2,473 | |||
* | Capital Bancorp Inc. | 120,766 | 2,470 | |||
Pzena Investment Management Inc. Class A | 224,114 | 2,467 | ||||
* | Esquire Financial Holdings Inc. | 103,937 | 2,463 | |||
Bankwell Financial Group Inc. | 88,368 | 2,442 | ||||
* | Trean Insurance Group Inc. | 161,148 | 2,430 | |||
*,1 | Finance of America Cos. Inc. Class A | 315,700 | 2,409 | |||
County Bancorp Inc. | 70,459 | 2,393 | ||||
Codorus Valley Bancorp Inc. | 118,516 | 2,375 |
Shares | Market Value ($000) | |||||
Bank of Princeton | 81,643 | 2,341 | ||||
BankFinancial Corp. | 204,346 | 2,338 | ||||
Meridian Corp. | 88,121 | 2,313 | ||||
Crawford & Co. Class B | 266,713 | 2,294 | ||||
Parke Bancorp Inc. | 117,162 | 2,292 | ||||
1st Constitution Bancorp | 110,376 | 2,284 | ||||
Unity Bancorp Inc. | 103,594 | 2,284 | ||||
* | NI Holdings Inc. | 117,881 | 2,241 | |||
Middlefield Banc Corp. | 94,048 | 2,220 | ||||
Ellington Residential Mortgage REIT | 185,536 | 2,184 | ||||
ESSA Bancorp Inc. | 133,034 | 2,180 | ||||
Citizens Community Bancorp Inc. | 157,258 | 2,151 | ||||
AFC Gamma Inc. | 102,900 | 2,125 | ||||
OP Bancorp | 207,322 | 2,086 | ||||
* | FVCBankcorp Inc. | 120,415 | 2,078 | |||
* | California Bancorp | 111,000 | 2,076 | |||
Chemung Financial Corp. | 46,289 | 2,051 | ||||
Richmond Mutual Bancorp Inc. | 136,621 | 2,036 | ||||
* | MMA Capital Holdings Inc. | 74,847 | 2,033 | |||
Penns Woods Bancorp Inc. | 85,255 | 2,031 | ||||
Associated Capital Group Inc. Class A | 51,741 | 2,011 | ||||
Severn Bancorp Inc. | 166,056 | 1,976 | ||||
* | MainStreet Bancshares Inc. | 87,486 | 1,975 | |||
ChoiceOne Financial Services Inc. | 78,643 | 1,905 | ||||
* | Malvern Bancorp Inc. | 102,938 | 1,903 | |||
C&F Financial Corp. | 36,986 | 1,886 | ||||
* | First Western Financial Inc. | 72,635 | 1,881 | |||
* | Velocity Financial Inc. | 150,175 | 1,876 | |||
* | Medallion Financial Corp. | 211,543 | 1,874 | |||
First Guaranty Bancshares Inc. | 95,755 | 1,865 | ||||
HBT Financial Inc. | 107,073 | 1,864 | ||||
Federal Agricultural Mortgage Corp. Class A | 20,476 | 1,853 | ||||
Riverview Bancorp Inc. | 256,932 | 1,822 | ||||
Guild Holdings Co. Class A | 118,454 | 1,817 | ||||
William Penn Bancorp | 151,653 | 1,805 | ||||
* | Five Star Bancorp | 74,621 | 1,802 | |||
Cortland Bancorp | 66,679 | 1,784 | ||||
Eagle Bancorp Montana Inc. | 77,227 | 1,776 | ||||
First United Corp. | 101,549 | 1,770 | ||||
United Insurance Holdings Corp. | 310,230 | 1,768 | ||||
Nexpoint Real Estate Finance Inc. | 84,363 | 1,762 | ||||
GAMCO Investors Inc. Class A | 70,032 | 1,754 | ||||
* | ProSight Global Inc. | 137,233 | 1,751 | |||
First Community Corp. | 86,350 | 1,744 | ||||
Sachem Capital Corp. | 324,098 | 1,734 | ||||
Peoples Bancorp of North Carolina Inc. | 66,525 | 1,716 | ||||
1 | Hawthorn Bancshares Inc. | 73,740 | 1,691 | |||
First Capital Inc. | 38,982 | 1,690 | ||||
* | Manning & Napier Inc. Class A | 209,696 | 1,650 | |||
SB Financial Group Inc. | 88,836 | 1,643 | ||||
Bank of the James Financial Group Inc. | 101,650 | 1,626 | ||||
United Security Bancshares | 196,870 | 1,608 | ||||
First Savings Financial Group Inc. | 21,830 | 1,597 | ||||
* | Bright Health Group Inc. | 92,592 | 1,589 | |||
First Financial Northwest Inc. | 104,176 | 1,578 | ||||
CB Financial Services Inc. | 71,072 | 1,574 | ||||
* | PDL Community Bancorp | 113,139 | 1,545 | |||
Provident Financial Holdings Inc. | 89,437 | 1,545 | ||||
Franklin Financial Services Corp. | 47,974 | 1,532 | ||||
* | Security National Financial Corp. Class A | 174,529 | 1,527 | |||
* | Randolph Bancorp Inc. | 73,561 | 1,523 |
Shares | Market Value ($000) | |||||
American River Bankshares | 82,554 | 1,494 | ||||
Bank of South Carolina Corp. | 72,771 | 1,492 | ||||
Crawford & Co. Class A | 164,368 | 1,491 | ||||
* | Arlington Asset Investment Corp. Class A | 366,318 | 1,487 | |||
FNCB Bancorp Inc. | 204,000 | 1,483 | ||||
1 | Oak Valley Bancorp | 80,206 | 1,457 | |||
Colony Bankcorp Inc. | 79,731 | 1,424 | ||||
Union Bankshares Inc. | 38,565 | 1,396 | ||||
Salisbury Bancorp Inc. | 26,823 | 1,363 | ||||
Silvercrest Asset Management Group Inc. Class A | 88,935 | 1,338 | ||||
Level One Bancorp Inc. | 48,814 | 1,333 | ||||
* | Pioneer Bancorp Inc. | 109,648 | 1,318 | |||
1 | First National Corp. | 64,822 | 1,302 | |||
US Global Investors Inc. Class A | 206,953 | 1,281 | ||||
Summit State Bank | 78,386 | 1,218 | ||||
CF Bankshares Inc. | 63,590 | 1,211 | ||||
Plumas Bancorp | 37,769 | 1,210 | ||||
* | Nicholas Financial Inc. | 107,396 | 1,205 | |||
* | Hallmark Financial Services Inc. | 270,526 | 1,204 | |||
* | Sterling Bancorp Inc. | 251,548 | 1,145 | |||
1 | loanDepot Inc. Class A | 87,780 | 1,128 | |||
1 | Ohio Valley Banc Corp. | 45,934 | 1,123 | |||
Prudential Bancorp Inc. | 80,339 | 1,113 | ||||
* | Elevate Credit Inc. | 308,950 | 1,103 | |||
Old Point Financial Corp. | 45,108 | 1,094 | ||||
AmeriServ Financial Inc. | 273,459 | 1,075 | ||||
* | HMN Financial Inc. | 47,410 | 1,010 | |||
1 | Citizens Holding Co. | 54,367 | 1,004 | |||
Sound Financial Bancorp Inc. | 22,740 | 986 | ||||
United Bancorp Inc. | 67,245 | 986 | ||||
* | FFBW Inc. | 85,515 | 975 | |||
Kingstone Cos. Inc. | 123,825 | 966 | ||||
* | Angel Oak Mortgage Inc. | 53,356 | 953 | |||
Guaranty Federal Bancshares Inc. | 38,891 | 947 | ||||
Lument Finance Trust Inc. | 223,295 | 940 | ||||
Landmark Bancorp Inc. | 33,410 | 902 | ||||
* | Consumer Portfolio Services Inc. | 195,871 | 881 | |||
Donegal Group Inc. Class B | 61,092 | 849 | ||||
First US Bancshares Inc. | 77,118 | 831 | ||||
IF Bancorp Inc. | 36,116 | 831 | ||||
United Bancshares Inc. | 21,112 | 760 | ||||
1 | Community West Bancshares | 55,714 | 729 | |||
Greene County Bancorp Inc. | 25,448 | 716 | ||||
Partners Bancorp | 88,606 | 712 | ||||
Auburn National Bancorp Inc. | 19,698 | 698 | ||||
*,1 | Reliance Global Group Inc. | 182,186 | 643 | |||
* | Broadway Financial Corp. | 237,171 | 638 | |||
*,1 | Siebert Financial Corp. | 129,565 | 623 | |||
FedNat Holding Co. | 148,849 | 618 | ||||
Bank7 Corp. | 35,700 | 616 | ||||
Manhattan Bridge Capital Inc. | 76,988 | 601 | ||||
* | Limestone Bancorp Inc. | 35,467 | 590 | |||
Tremont Mortgage Trust | 94,591 | 574 | ||||
* | FlexShopper Inc. | 181,219 | 538 | |||
Hennessy Advisors Inc. | 57,467 | 536 | ||||
Pathfinder Bancorp Inc. | 31,500 | 498 | ||||
* | Ashford Inc. | 20,199 | 459 | |||
* | Heritage Global Inc. | 176,967 | 448 | |||
Emclaire Financial Corp. | 14,818 | 431 | ||||
*,1 | LM Funding America Inc. | 99,643 | 427 | |||
* | Impac Mortgage Holdings Inc. | 181,058 | 384 |
Shares | Market Value ($000) | |||||
1 | Atlantic American Corp. | 88,286 | 381 | |||
* | Riverview Financial Corp. | 30,805 | 352 | |||
Oconee Federal Financial Corp. | 13,333 | 312 | ||||
* | Bogota Financial Corp. | 29,940 | 305 | |||
Elmira Savings Bank | 20,134 | 288 | ||||
* | Kingsway Financial Services Inc. | 51,368 | 257 | |||
* | Vericity Inc. | 26,052 | 249 | |||
CBM Bancorp Inc. | 15,795 | 237 | ||||
* | Rhinebeck Bancorp Inc. | 21,520 | 235 | |||
*,1 | Oxbridge Re Holdings Ltd. | 89,196 | 234 | |||
* | Affinity Bancshares Inc. | 17,788 | 229 | |||
*,1,2 | Contran Corp. CVR | 238,902 | 229 | |||
*,1 | Carver Bancorp Inc. | 21,647 | 222 | |||
Mid-Southern Bancorp Inc. | 10,235 | 163 | ||||
*,1 | Cohen & Co. Inc. | 8,216 | 155 | |||
* | Magyar Bancorp Inc. | 10,465 | 143 | |||
* | FG Financial Group Inc. | 15,130 | 140 | |||
Glen Burnie Bancorp | 9,237 | 120 | ||||
* | Income Opportunity Realty Investors Inc. | 8,837 | 114 | |||
*,1 | Medley Management Inc. Class A | 14,165 | 87 | |||
Home Federal Bancorp Inc. of Louisiana | 4,434 | 85 | ||||
* | Conifer Holdings Inc. | 24,973 | 72 | |||
* | OptimumBank Holdings Inc. | 14,519 | 70 | |||
Kentucky First Federal Bancorp | 9,399 | 69 | ||||
* | Village Bank & Trust Financial Corp. | 1,338 | 65 | |||
Value Line Inc. | 1,919 | 59 | ||||
* | ICC Holdings Inc. | 2,593 | 42 | |||
* | Patriot National Bancorp Inc. | 3,079 | 28 | |||
* | GWG Holdings Inc. | 2,941 | 21 | |||
*,2 | First Eagle Private Credit LLC CVR | 225,787 | 21 | |||
National Security Group Inc. | 1,272 | 14 | ||||
* | HV Bancorp Inc. | 525 | 12 | |||
* | Unico American Corp. | 1,377 | 6 | |||
Lake Shore Bancorp Inc. | 300 | 5 | ||||
*,2 | F-star Therapeutics Inc. CVR | 40,838 | 3 | |||
WVS Financial Corp. | 100 | 2 | ||||
*,2 | Frontier Financial Corp. | 1 | — | |||
*,2 | Contra Costa County Public Financing Authority CVR | 101,693 | — | |||
15,304,328 | ||||||
Health Care (15.34%) | ||||||
* | Moderna Inc. | 4,345,548 | 1,021,117 | |||
* | Veeva Systems Inc. Class A | 1,885,773 | 586,381 | |||
* | Teladoc Health Inc. | 1,859,060 | 309,143 | |||
* | Exact Sciences Corp. | 2,431,784 | 302,295 | |||
* | Horizon Therapeutics plc | 3,181,343 | 297,901 | |||
* | Alnylam Pharmaceuticals Inc. | 1,666,295 | 282,470 | |||
* | Seagen Inc. | 1,718,491 | 271,315 | |||
* | Novocure Ltd. | 1,220,178 | 270,660 | |||
* | Avantor Inc. | 7,305,217 | 259,408 | |||
* | Insulet Corp. | 940,516 | 258,181 | |||
Bio-Techne Corp. | 550,197 | 247,732 | ||||
* | Elanco Animal Health Inc. | 6,703,017 | 232,528 | |||
* | BioMarin Pharmaceutical Inc. | 2,582,852 | 215,513 | |||
* | Molina Healthcare Inc. | 826,754 | 209,218 | |||
* | 10X Genomics Inc. Class A | 1,055,009 | 206,592 | |||
* | Novavax Inc. | 966,880 | 205,278 | |||
* | Masimo Corp. | 716,665 | 173,755 | |||
* | Guardant Health Inc. | 1,219,298 | 151,425 | |||
* | Jazz Pharmaceuticals plc | 846,533 | 150,378 | |||
* | Repligen Corp. | 725,295 | 144,783 | |||
* | Intellia Therapeutics Inc. | 880,008 | 142,482 |
Shares | Market Value ($000) | |||||
* | Penumbra Inc. | 479,474 | 131,405 | |||
* | Neurocrine Biosciences Inc. | 1,339,813 | 130,391 | |||
* | Syneos Health Inc. | 1,441,252 | 128,978 | |||
* | Natera Inc. | 1,128,674 | 128,138 | |||
* | Arrowhead Pharmaceuticals Inc. | 1,470,535 | 121,790 | |||
* | United Therapeutics Corp. | 630,456 | 113,110 | |||
* | Amedisys Inc. | 459,455 | 112,534 | |||
Bruker Corp. | 1,443,352 | 109,666 | ||||
Encompass Health Corp. | 1,402,193 | 109,413 | ||||
Chemed Corp. | 224,769 | 106,653 | ||||
Hill-Rom Holdings Inc. | 938,075 | 106,556 | ||||
* | Mirati Therapeutics Inc. | 655,961 | 105,957 | |||
* | Tenet Healthcare Corp. | 1,501,364 | 100,576 | |||
* | STAAR Surgical Co. | 659,395 | 100,558 | |||
* | Envista Holdings Corp. | 2,271,081 | 98,133 | |||
* | Fate Therapeutics Inc. | 1,129,150 | 97,999 | |||
* | Pacific Biosciences of California Inc. | 2,795,984 | 97,776 | |||
* | HealthEquity Inc. | 1,172,126 | 94,333 | |||
* | Acceleron Pharma Inc. | 746,923 | 93,731 | |||
* | Omnicell Inc. | 608,718 | 92,190 | |||
* | Denali Therapeutics Inc. | 1,146,222 | 89,910 | |||
* | LHC Group Inc. | 446,174 | 89,351 | |||
* | Sarepta Therapeutics Inc. | 1,127,543 | 87,655 | |||
*,1 | Invitae Corp. | 2,568,952 | 86,651 | |||
* | Tandem Diabetes Care Inc. | 888,804 | 86,570 | |||
* | Halozyme Therapeutics Inc. | 1,884,768 | 85,587 | |||
* | Globus Medical Inc. Class A | 1,100,424 | 85,316 | |||
* | Shockwave Medical Inc. | 448,813 | 85,153 | |||
* | Ultragenyx Pharmaceutical Inc. | 890,533 | 84,912 | |||
* | Bridgebio Pharma Inc. | 1,370,356 | 83,537 | |||
* | Nevro Corp. | 487,591 | 80,838 | |||
* | Exelixis Inc. | 4,423,825 | 80,602 | |||
* | Acadia Healthcare Co. Inc. | 1,270,845 | 79,746 | |||
* | Ionis Pharmaceuticals Inc. | 1,992,452 | 79,479 | |||
* | Twist Bioscience Corp. | 590,264 | 78,653 | |||
* | Change Healthcare Inc. | 3,343,428 | 77,033 | |||
* | PRA Health Sciences Inc. | 461,179 | 76,191 | |||
* | Biohaven Pharmaceutical Holding Co. Ltd. | 782,586 | 75,973 | |||
* | NeoGenomics Inc. | 1,649,998 | 74,530 | |||
* | Inspire Medical Systems Inc. | 383,791 | 74,171 | |||
* | Blueprint Medicines Corp. | 815,627 | 71,743 | |||
* | PPD Inc. | 1,540,784 | 71,015 | |||
* | Quidel Corp. | 549,242 | 70,369 | |||
* | Neogen Corp. | 1,523,783 | 70,155 | |||
* | Medpace Holdings Inc. | 388,311 | 68,587 | |||
* | Integra LifeSciences Holdings Corp. | 999,818 | 68,228 | |||
* | CareDx Inc. | 727,727 | 66,602 | |||
* | AMN Healthcare Services Inc. | 658,981 | 63,908 | |||
Select Medical Holdings Corp. | 1,509,407 | 63,788 | ||||
* | TG Therapeutics Inc. | 1,622,684 | 62,944 | |||
Ensign Group Inc. | 720,377 | 62,435 | ||||
* | LivaNova plc | 696,052 | 58,545 | |||
* | Arena Pharmaceuticals Inc. | 845,803 | 57,684 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 1,379,285 | 57,558 | |||
CONMED Corp. | 412,661 | 56,712 | ||||
* | ICU Medical Inc. | 275,505 | 56,699 | |||
* | Glaukos Corp. | 657,230 | 55,753 | |||
* | Alkermes plc | 2,238,725 | 54,894 | |||
* | Editas Medicine Inc. Class A | 962,418 | 54,511 | |||
* | Reata Pharmaceuticals Inc. Class A | 376,524 | 53,289 | |||
* | Beam Therapeutics Inc. | 414,001 | 53,286 |
Shares | Market Value ($000) | |||||
* | Apellis Pharmaceuticals Inc. | 836,087 | 52,841 | |||
* | Iovance Biotherapeutics Inc. | 2,020,715 | 52,579 | |||
* | AtriCure Inc. | 634,607 | 50,343 | |||
Royalty Pharma plc Class A | 1,228,138 | 50,341 | ||||
* | NuVasive Inc. | 731,743 | 49,598 | |||
* | Adaptive Biotechnologies Corp. | 1,179,216 | 48,183 | |||
* | Haemonetics Corp. | 717,857 | 47,838 | |||
* | Turning Point Therapeutics Inc. | 609,059 | 47,519 | |||
* | Merit Medical Systems Inc. | 699,910 | 45,256 | |||
* | Insmed Inc. | 1,578,990 | 44,938 | |||
Owens & Minor Inc. | 1,057,761 | 44,775 | ||||
*,1 | Cassava Sciences Inc. | 521,207 | 44,532 | |||
* | Vir Biotechnology Inc. | 939,129 | 44,402 | |||
* | Integer Holdings Corp. | 470,615 | 44,332 | |||
* | Nektar Therapeutics | 2,554,190 | 43,830 | |||
* | R1 RCM Inc. | 1,917,059 | 42,635 | |||
* | PTC Therapeutics Inc. | 1,003,312 | 42,410 | |||
* | Kodiak Sciences Inc. | 452,140 | 42,049 | |||
* | NanoString Technologies Inc. | 642,758 | 41,644 | |||
* | Sage Therapeutics Inc. | 731,794 | 41,573 | |||
* | CryoPort Inc. | 653,716 | 41,249 | |||
* | Emergent BioSolutions Inc. | 649,712 | 40,925 | |||
* | Intra-Cellular Therapies Inc. | 996,540 | 40,679 | |||
* | BioCryst Pharmaceuticals Inc. | 2,536,054 | 40,095 | |||
* | ACADIA Pharmaceuticals Inc. | 1,638,735 | 39,969 | |||
* | Agios Pharmaceuticals Inc. | 720,588 | 39,712 | |||
* | Schrodinger Inc. | 519,811 | 39,303 | |||
* | Allakos Inc. | 458,900 | 39,176 | |||
* | Covetrus Inc. | 1,419,260 | 38,320 | |||
* | Pacira BioSciences Inc. | 630,297 | 38,246 | |||
* | Veracyte Inc. | 951,568 | 38,044 | |||
Patterson Cos. Inc. | 1,242,130 | 37,748 | ||||
* | Inovalon Holdings Inc. Class A | 1,106,845 | 37,721 | |||
* | Allscripts Healthcare Solutions Inc. | 2,009,472 | 37,195 | |||
* | MEDNAX Inc. | 1,228,684 | 37,045 | |||
* | AdaptHealth Corp. Class A | 1,347,344 | 36,931 | |||
* | Prestige Consumer Healthcare Inc. | 708,402 | 36,908 | |||
* | 1Life Healthcare Inc. | 1,101,832 | 36,427 | |||
* | Arvinas Inc. | 470,540 | 36,232 | |||
* | Amicus Therapeutics Inc. | 3,729,162 | 35,949 | |||
* | Dicerna Pharmaceuticals Inc. | 954,079 | 35,606 | |||
Premier Inc. Class A | 1,009,642 | 35,125 | ||||
*,1 | Multiplan Corp. | 3,681,744 | 35,050 | |||
* | Vericel Corp. | 661,543 | 34,731 | |||
* | Myriad Genetics Inc. | 1,076,977 | 32,934 | |||
*,1 | Sorrento Therapeutics Inc. | 3,386,263 | 32,813 | |||
* | Heska Corp. | 142,163 | 32,659 | |||
* | SpringWorks Therapeutics Inc. | 391,474 | 32,261 | |||
* | Phreesia Inc. | 525,994 | 32,243 | |||
* | FibroGen Inc. | 1,208,205 | 32,174 | |||
* | Corcept Therapeutics Inc. | 1,453,381 | 31,974 | |||
*,1 | GoodRx Holdings Inc. Class A | 885,010 | 31,869 | |||
* | Option Care Health Inc. | 1,451,858 | 31,752 | |||
* | Axonics Inc. | 493,504 | 31,293 | |||
* | Ligand Pharmaceuticals Inc. | 238,131 | 31,240 | |||
* | Progyny Inc. | 525,973 | 31,032 | |||
* | Magellan Health Inc. | 324,440 | 30,562 | |||
* | Global Blood Therapeutics Inc. | 871,312 | 30,513 | |||
* | Karuna Therapeutics Inc. | 265,914 | 30,312 | |||
* | Bluebird Bio Inc. | 936,663 | 29,954 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 2,315,563 | 29,801 |
Shares | Market Value ($000) | |||||
*,1 | Bionano Genomics Inc. | 3,974,629 | 29,134 | |||
* | Surgery Partners Inc. | 433,203 | 28,860 | |||
* | Xencor Inc. | 831,334 | 28,673 | |||
* | ModivCare Inc. | 168,461 | 28,650 | |||
* | Revance Therapeutics Inc. | 962,289 | 28,522 | |||
* | iRhythm Technologies Inc. | 419,679 | 27,846 | |||
* | Translate Bio Inc. | 1,002,882 | 27,619 | |||
* | Rocket Pharmaceuticals Inc. | 619,635 | 27,444 | |||
*,1 | Inovio Pharmaceuticals Inc. | 2,954,288 | 27,386 | |||
* | Community Health Systems Inc. | 1,762,102 | 27,207 | |||
* | agilon health Inc. | 661,682 | 26,844 | |||
* | Health Catalyst Inc. | 480,101 | 26,650 | |||
* | Lantheus Holdings Inc. | 959,293 | 26,515 | |||
*,1 | Butterfly Network Inc. | 1,812,081 | 26,239 | |||
* | Axsome Therapeutics Inc. | 384,716 | 25,953 | |||
* | Protagonist Therapeutics Inc. | 569,959 | 25,580 | |||
* | Sotera Health Co. | 1,052,331 | 25,498 | |||
*,1 | OPKO Health Inc. | 6,267,350 | 25,383 | |||
* | Avanos Medical Inc. | 687,311 | 24,997 | |||
* | Allogene Therapeutics Inc. | 954,928 | 24,905 | |||
* | Ortho Clinical Diagnostics Holdings plc | 1,140,749 | 24,423 | |||
* | Evolent Health Inc. Class A | 1,133,473 | 23,939 | |||
* | Silk Road Medical Inc. | 498,689 | 23,867 | |||
* | Supernus Pharmaceuticals Inc. | 762,522 | 23,478 | |||
* | Cardiovascular Systems Inc. | 545,752 | 23,276 | |||
*,1 | Fulgent Genetics Inc. | 251,434 | 23,190 | |||
Luminex Corp. | 626,946 | 23,072 | ||||
* | Quanterix Corp. | 392,018 | 22,996 | |||
*,1 | Anavex Life Sciences Corp. | 998,582 | 22,828 | |||
*,1 | Ocugen Inc. | 2,806,049 | 22,533 | |||
* | MacroGenics Inc. | 820,237 | 22,032 | |||
* | REVOLUTION Medicines Inc. | 686,796 | 21,799 | |||
US Physical Therapy Inc. | 185,048 | 21,442 | ||||
* | Deciphera Pharmaceuticals Inc. | 582,380 | 21,321 | |||
* | RadNet Inc. | 621,867 | 20,951 | |||
*,1 | Clover Health Investments Corp. | 1,572,194 | 20,942 | |||
* | Brookdale Senior Living Inc. | 2,643,395 | 20,883 | |||
* | Avid Bioservices Inc. | 811,276 | 20,809 | |||
* | Sangamo Therapeutics Inc. | 1,714,097 | 20,518 | |||
* | Prothena Corp. plc | 398,901 | 20,507 | |||
* | Cytokinetics Inc. | 1,030,551 | 20,395 | |||
* | Heron Therapeutics Inc. | 1,293,817 | 20,080 | |||
* | Kura Oncology Inc. | 951,127 | 19,831 | |||
* | BioLife Solutions Inc. | 441,131 | 19,635 | |||
* | REGENXBIO Inc. | 504,138 | 19,586 | |||
* | Seres Therapeutics Inc. | 820,145 | 19,560 | |||
* | MannKind Corp. | 3,552,327 | 19,360 | |||
* | Castle Biosciences Inc. | 263,072 | 19,291 | |||
* | Vocera Communications Inc. | 483,139 | 19,253 | |||
* | Celldex Therapeutics Inc. | 575,219 | 19,235 | |||
Mesa Laboratories Inc. | 70,677 | 19,165 | ||||
* | Atara Biotherapeutics Inc. | 1,221,079 | 18,988 | |||
* | Addus HomeCare Corp. | 217,263 | 18,954 | |||
* | ImmunoGen Inc. | 2,865,453 | 18,883 | |||
*,1 | Senseonics Holdings Inc. | 4,869,123 | 18,697 | |||
* | Codexis Inc. | 822,481 | 18,637 | |||
* | Arcus Biosciences Inc. | 648,096 | 17,797 | |||
* | CorVel Corp. | 132,413 | 17,783 | |||
*,1 | MiMedx Group Inc. | 1,421,406 | 17,782 | |||
* | Inogen Inc. | 266,693 | 17,380 | |||
* | Krystal Biotech Inc. | 251,282 | 17,087 |
Shares | Market Value ($000) | |||||
* | uniQure NV | 553,234 | 17,040 | |||
* | Vanda Pharmaceuticals Inc. | 785,880 | 16,904 | |||
* | Certara Inc. | 575,813 | 16,313 | |||
* | Tabula Rasa HealthCare Inc. | 324,517 | 16,226 | |||
* | Joint Corp. | 191,529 | 16,073 | |||
* | CryoLife Inc. | 565,454 | 16,059 | |||
* | Alector Inc. | 757,589 | 15,781 | |||
* | Endo International plc | 3,336,898 | 15,617 | |||
* | Ocular Therapeutix Inc. | 1,084,151 | 15,373 | |||
* | Constellation Pharmaceuticals Inc. | 449,750 | 15,202 | |||
* | Rubius Therapeutics Inc. | 621,387 | 15,168 | |||
* | Varex Imaging Corp. | 563,947 | 15,125 | |||
* | Pennant Group Inc. | 369,099 | 15,096 | |||
LeMaitre Vascular Inc. | 244,382 | 14,912 | ||||
* | Tactile Systems Technology Inc. | 285,655 | 14,854 | |||
* | AngioDynamics Inc. | 546,439 | 14,825 | |||
*,1 | ImmunityBio Inc. | 1,033,557 | 14,759 | |||
*,1 | DermTech Inc. | 349,693 | 14,537 | |||
* | Cerus Corp. | 2,455,546 | 14,512 | |||
* | Replimune Group Inc. | 377,188 | 14,492 | |||
* | Tivity Health Inc. | 547,185 | 14,396 | |||
*,1 | Dynavax Technologies Corp. | 1,455,321 | 14,335 | |||
* | Agenus Inc. | 2,583,027 | 14,181 | |||
* | Hanger Inc. | 559,946 | 14,155 | |||
* | Outset Medical Inc. | 282,155 | 14,102 | |||
* | Meridian Bioscience Inc. | 629,966 | 13,973 | |||
*,1 | Cerevel Therapeutics Holdings Inc. | 542,540 | 13,900 | |||
* | PetIQ Inc. Class A | 357,050 | 13,782 | |||
* | Zogenix Inc. | 797,252 | 13,777 | |||
*,1 | Omeros Corp. | 908,047 | 13,475 | |||
* | Zentalis Pharmaceuticals Inc. | 251,475 | 13,378 | |||
* | Y-mAbs Therapeutics Inc. | 393,494 | 13,300 | |||
* | Madrigal Pharmaceuticals Inc. | 136,381 | 13,285 | |||
* | Myovant Sciences Ltd. | 578,375 | 13,170 | |||
* | Coherus Biosciences Inc. | 941,844 | 13,026 | |||
* | Alphatec Holdings Inc. | 849,693 | 13,017 | |||
*,1 | Vaxart Inc. | 1,736,829 | 13,009 | |||
Atrion Corp. | 20,813 | 12,923 | ||||
* | Recursion Pharmaceuticals Inc. Class A | 351,830 | 12,842 | |||
* | Natus Medical Inc. | 487,897 | 12,676 | |||
* | Cutera Inc. | 257,379 | 12,619 | |||
* | NextGen Healthcare Inc. | 753,544 | 12,501 | |||
* | Privia Health Group Inc. | 281,564 | 12,493 | |||
* | OrthoPediatrics Corp. | 197,630 | 12,486 | |||
* | Innoviva Inc. | 926,581 | 12,425 | |||
* | Radius Health Inc. | 674,894 | 12,310 | |||
Simulations Plus Inc. | 223,543 | 12,275 | ||||
National HealthCare Corp. | 174,918 | 12,227 | ||||
* | Morphic Holding Inc. | 211,569 | 12,142 | |||
* | Collegium Pharmaceutical Inc. | 511,091 | 12,082 | |||
* | OptimizeRx Corp. | 194,196 | 12,021 | |||
* | SI-BONE Inc. | 380,694 | 11,980 | |||
* | Accolade Inc. | 219,973 | 11,947 | |||
* | Apollo Medical Holdings Inc. | 189,380 | 11,895 | |||
* | TransMedics Group Inc. | 353,915 | 11,743 | |||
* | Organogenesis Holdings Inc. Class A | 704,281 | 11,705 | |||
* | Enanta Pharmaceuticals Inc. | 265,840 | 11,700 | |||
*,1 | Humanigen Inc. | 670,906 | 11,660 | |||
*,1 | VBI Vaccines Inc. | 3,437,676 | 11,516 | |||
*,1 | Zomedica Corp. | 13,799,917 | 11,491 | |||
* | ViewRay Inc. | 1,740,542 | 11,488 |
Shares | Market Value ($000) | |||||
* | Travere Therapeutics Inc. | 781,648 | 11,404 | |||
*,1 | Applied Molecular Transport Inc. | 248,171 | 11,351 | |||
* | Sesen Bio Inc. | 2,439,578 | 11,271 | |||
* | Epizyme Inc. | 1,352,396 | 11,238 | |||
* | Axogen Inc. | 516,445 | 11,160 | |||
* | Aclaris Therapeutics Inc. | 628,507 | 11,037 | |||
* | Inari Medical Inc. | 118,318 | 11,037 | |||
* | Mersana Therapeutics Inc. | 805,620 | 10,940 | |||
* | Surmodics Inc. | 200,925 | 10,900 | |||
* | Aerie Pharmaceuticals Inc. | 678,653 | 10,865 | |||
* | Arcutis Biotherapeutics Inc. | 398,141 | 10,865 | |||
*,1 | Atossa Therapeutics Inc. | 1,708,095 | 10,795 | |||
* | SmileDirectClub Inc. Class A | 1,237,211 | 10,739 | |||
* | OraSure Technologies Inc. | 1,057,546 | 10,724 | |||
* | Theravance Biopharma Inc. | 737,769 | 10,712 | |||
* | Relay Therapeutics Inc. | 292,193 | 10,691 | |||
* | Rigel Pharmaceuticals Inc. | 2,454,494 | 10,652 | |||
*,1 | Asensus Surgical Inc. | 3,331,649 | 10,561 | |||
* | HealthStream Inc. | 373,116 | 10,425 | |||
* | Rhythm Pharmaceuticals Inc. | 528,204 | 10,342 | |||
* | American Well Corp. Class A | 820,626 | 10,323 | |||
* | Signify Health Inc. Class A | 338,517 | 10,301 | |||
*,1 | Hims & Hers Health Inc. | 940,299 | 10,240 | |||
* | Orthofix Medical Inc. | 254,828 | 10,221 | |||
*,1 | G1 Therapeutics Inc. | 463,341 | 10,166 | |||
* | Personalis Inc. | 401,279 | 10,152 | |||
* | Antares Pharma Inc. | 2,320,596 | 10,118 | |||
* | Arcturus Therapeutics Holdings Inc. | 296,699 | 10,040 | |||
*,1 | Cortexyme Inc. | 188,773 | 10,005 | |||
* | Stoke Therapeutics Inc. | 295,211 | 9,937 | |||
* | Amphastar Pharmaceuticals Inc. | 489,851 | 9,875 | |||
* | Karyopharm Therapeutics Inc. | 937,582 | 9,676 | |||
* | ChemoCentryx Inc. | 722,059 | 9,668 | |||
* | Albireo Pharma Inc. | 268,918 | 9,461 | |||
* | Sutro Biopharma Inc. | 505,044 | 9,389 | |||
* | Kadmon Holdings Inc. | 2,391,619 | 9,256 | |||
* | Alignment Healthcare Inc. | 395,735 | 9,248 | |||
* | Curis Inc. | 1,140,369 | 9,203 | |||
National Research Corp. | 199,630 | 9,163 | ||||
*,1 | Aldeyra Therapeutics Inc. | 808,572 | 9,161 | |||
* | Verastem Inc. | 2,250,360 | 9,159 | |||
* | Scholar Rock Holding Corp. | 316,417 | 9,144 | |||
* | ALX Oncology Holdings Inc. | 164,492 | 8,994 | |||
*,1 | Clovis Oncology Inc. | 1,537,740 | 8,919 | |||
* | Anika Therapeutics Inc. | 203,739 | 8,820 | |||
* | Syndax Pharmaceuticals Inc. | 511,815 | 8,788 | |||
* | Cara Therapeutics Inc. | 614,235 | 8,765 | |||
* | Stereotaxis Inc. | 907,417 | 8,747 | |||
*,1 | Esperion Therapeutics Inc. | 413,453 | 8,745 | |||
*,1 | Marinus Pharmaceuticals Inc. | 483,886 | 8,681 | |||
*,1 | Precigen Inc. | 1,325,890 | 8,645 | |||
* | IGM Biosciences Inc. | 103,414 | 8,604 | |||
* | Akebia Therapeutics Inc. | 2,247,642 | 8,519 | |||
* | Amneal Pharmaceuticals Inc. | 1,663,063 | 8,515 | |||
* | Nuvation Bio Inc. | 910,316 | 8,475 | |||
* | Agiliti Inc. | 383,322 | 8,383 | |||
* | SeaSpine Holdings Corp. | 408,189 | 8,372 | |||
* | Intersect ENT Inc. | 488,112 | 8,342 | |||
* | Catalyst Pharmaceuticals Inc. | 1,433,029 | 8,240 | |||
* | Cross Country Healthcare Inc. | 498,451 | 8,229 | |||
Phibro Animal Health Corp. Class A | 284,843 | 8,226 |
Shares | Market Value ($000) | |||||
* | Chimerix Inc. | 1,019,226 | 8,154 | |||
* | ZIOPHARM Oncology Inc. | 3,083,137 | 8,139 | |||
* | Spectrum Pharmaceuticals Inc. | 2,149,330 | 8,060 | |||
* | AnaptysBio Inc. | 310,653 | 8,055 | |||
* | Generation Bio Co. | 296,205 | 7,968 | |||
* | Triple-S Management Corp. Class B | 354,874 | 7,903 | |||
* | VistaGen Therapeutics Inc. | 2,501,316 | 7,879 | |||
* | IVERIC bio Inc. | 1,245,663 | 7,860 | |||
* | Intercept Pharmaceuticals Inc. | 392,236 | 7,833 | |||
* | Avita Medical Inc. | 379,760 | 7,793 | |||
* | Immunovant Inc. | 732,357 | 7,741 | |||
* | Precision BioSciences Inc. | 611,444 | 7,655 | |||
* | C4 Therapeutics Inc. | 201,321 | 7,618 | |||
* | Vapotherm Inc. | 320,934 | 7,587 | |||
* | Chinook Therapeutics Inc. | 535,868 | 7,566 | |||
* | Ardelyx Inc. | 989,258 | 7,499 | |||
* | Eagle Pharmaceuticals Inc. | 173,560 | 7,428 | |||
* | Nkarta Inc. | 233,770 | 7,408 | |||
* | Forma Therapeutics Holdings Inc. | 290,641 | 7,234 | |||
* | Sana Biotechnology Inc. | 347,403 | 6,830 | |||
* | ChromaDex Corp. | 689,581 | 6,799 | |||
* | Geron Corp. | 4,790,387 | 6,754 | |||
* | Crinetics Pharmaceuticals Inc. | 356,364 | 6,717 | |||
* | Pulmonx Corp. | 150,995 | 6,662 | |||
* | Aveanna Healthcare Holdings Inc. | 536,976 | 6,642 | |||
* | BioAtla Inc. | 156,414 | 6,629 | |||
* | PAVmed Inc. | 1,035,125 | 6,625 | |||
* | NGM Biopharmaceuticals Inc. | 333,690 | 6,580 | |||
* | Fluidigm Corp. | 1,066,739 | 6,571 | |||
* | Akero Therapeutics Inc. | 264,668 | 6,566 | |||
* | Relmada Therapeutics Inc. | 202,653 | 6,487 | |||
* | Bioxcel Therapeutics Inc. | 218,976 | 6,363 | |||
* | Provention Bio Inc. | 753,388 | 6,351 | |||
* | TCR2 Therapeutics Inc. | 386,991 | 6,351 | |||
* | Phathom Pharmaceuticals Inc. | 186,917 | 6,327 | |||
* | Lineage Cell Therapeutics Inc. | 2,211,454 | 6,303 | |||
Computer Programs & Systems Inc. | 188,160 | 6,253 | ||||
* | KalVista Pharmaceuticals Inc. | 260,088 | 6,232 | |||
* | Accuray Inc. | 1,370,761 | 6,196 | |||
* | Kymera Therapeutics Inc. | 126,856 | 6,153 | |||
*,1 | Annovis Bio Inc. | 71,637 | 6,131 | |||
* | Oncocyte Corp. | 1,055,717 | 6,060 | |||
*,1 | TherapeuticsMD Inc. | 5,045,661 | 6,004 | |||
*,1 | Seer Inc. Class A | 183,016 | 5,999 | |||
* | Eargo Inc. | 150,229 | 5,996 | |||
* | Sientra Inc. | 752,132 | 5,987 | |||
* | Evolus Inc. | 471,377 | 5,963 | |||
* | PMV Pharmaceuticals Inc. | 172,897 | 5,906 | |||
* | CytomX Therapeutics Inc. | 927,407 | 5,870 | |||
* | Avidity Biosciences Inc. | 236,457 | 5,843 | |||
*,1 | Citius Pharmaceuticals Inc. | 1,674,777 | 5,828 | |||
* | Ideaya Biosciences Inc. | 276,793 | 5,810 | |||
* | Vaxcyte Inc. | 252,866 | 5,692 | |||
* | Kindred Biosciences Inc. | 613,706 | 5,628 | |||
* | Keros Therapeutics Inc. | 130,963 | 5,562 | |||
* | iCAD Inc. | 320,572 | 5,549 | |||
* | Flexion Therapeutics Inc. | 669,369 | 5,509 | |||
* | Dyne Therapeutics Inc. | 257,849 | 5,425 | |||
* | Gossamer Bio Inc. | 667,714 | 5,422 | |||
* | Berkeley Lights Inc. | 119,700 | 5,364 | |||
* | Viking Therapeutics Inc. | 893,673 | 5,353 |
Shares | Market Value ($000) | |||||
* | Silverback Therapeutics Inc. | 172,368 | 5,324 | |||
* | Selecta Biosciences Inc. | 1,268,829 | 5,304 | |||
* | Evelo Biosciences Inc. | 384,074 | 5,277 | |||
* | Innovage Holding Corp. | 246,762 | 5,258 | |||
* | ANI Pharmaceuticals Inc. | 149,726 | 5,248 | |||
* | InfuSystem Holdings Inc. | 252,427 | 5,248 | |||
* | Shattuck Labs Inc. | 180,988 | 5,247 | |||
* | BioDelivery Sciences International Inc. | 1,465,429 | 5,246 | |||
* | Durect Corp. | 3,209,549 | 5,232 | |||
*,1 | Brooklyn ImmunoTherapeutics Inc. | 290,008 | 5,223 | |||
*,1 | Tonix Pharmaceuticals Holding Corp. | 4,639,499 | 5,150 | |||
*,1 | KemPharm Inc. | 400,100 | 5,129 | |||
*,1 | XOMA Corp. | 150,322 | 5,111 | |||
* | Applied Therapeutics Inc. | 244,203 | 5,075 | |||
*,1 | CEL-SCI Corp. | 584,272 | 5,071 | |||
* | Aspira Women's Health Inc. | 899,973 | 5,058 | |||
* | Treace Medical Concepts Inc. | 161,728 | 5,056 | |||
* | Forte Biosciences Inc. | 149,758 | 5,035 | |||
* | Annexon Inc. | 223,524 | 5,032 | |||
* | Kiniksa Pharmaceuticals Ltd. Class A | 360,454 | 5,021 | |||
* | Athenex Inc. | 1,069,582 | 4,941 | |||
* | Nurix Therapeutics Inc. | 185,722 | 4,927 | |||
* | Neuronetics Inc. | 307,189 | 4,921 | |||
* | Quotient Ltd. | 1,340,966 | 4,881 | |||
* | Puma Biotechnology Inc. | 531,005 | 4,875 | |||
* | Homology Medicines Inc. | 669,572 | 4,868 | |||
*,1 | SOC Telemed Inc. Class A | 835,826 | 4,756 | |||
*,1 | Prelude Therapeutics Inc. | 164,389 | 4,706 | |||
* | Allovir Inc. | 236,665 | 4,672 | |||
*,1 | iBio Inc. | 3,064,755 | 4,628 | |||
* | Kronos Bio Inc. | 192,956 | 4,621 | |||
* | Passage Bio Inc. | 348,523 | 4,614 | |||
* | Cue Biopharma Inc. | 394,489 | 4,596 | |||
* | Avrobio Inc. | 516,737 | 4,594 | |||
* | PLx Pharma Inc. | 331,362 | 4,573 | |||
* | Spero Therapeutics Inc. | 327,432 | 4,571 | |||
* | Instil Bio Inc. | 233,585 | 4,513 | |||
* | Cullinan Oncology Inc. | 174,310 | 4,488 | |||
* | Lexicon Pharmaceuticals Inc. | 977,562 | 4,487 | |||
* | Molecular Templates Inc. | 569,263 | 4,452 | |||
*,1 | Frequency Therapeutics Inc. | 445,789 | 4,440 | |||
* | Neoleukin Therapeutics Inc. | 480,818 | 4,438 | |||
* | Adverum Biotechnologies Inc. | 1,267,367 | 4,436 | |||
*,1 | Xeris Pharmaceuticals Inc. | 1,079,952 | 4,395 | |||
* | Olema Pharmaceuticals Inc. | 156,570 | 4,381 | |||
* | CytoSorbents Corp. | 577,872 | 4,363 | |||
* | Eiger BioPharmaceuticals Inc. | 510,889 | 4,353 | |||
* | Zynex Inc. | 280,328 | 4,353 | |||
*,1 | AquaBounty Technologies Inc. | 811,365 | 4,349 | |||
*,1 | Ampio Pharmaceuticals Inc. | 2,602,839 | 4,347 | |||
*,2 | PDL BioPharma Inc. | 1,757,467 | 4,341 | |||
* | Inotiv Inc. | 162,296 | 4,330 | |||
* | Apyx Medical Corp. | 419,438 | 4,324 | |||
* | Harvard Bioscience Inc. | 518,619 | 4,320 | |||
Utah Medical Products Inc. | 50,707 | 4,312 | ||||
* | Cogent Biosciences Inc. | 530,687 | 4,304 | |||
* | Harpoon Therapeutics Inc. | 310,195 | 4,302 | |||
* | Syros Pharmaceuticals Inc. | 784,001 | 4,273 | |||
* | RAPT Therapeutics Inc. | 134,150 | 4,265 | |||
* | Altimmune Inc. | 428,684 | 4,223 | |||
* | SIGA Technologies Inc. | 672,348 | 4,222 |
Shares | Market Value ($000) | |||||
*,1 | DarioHealth Corp. | 195,917 | 4,185 | |||
* | iTeos Therapeutics Inc. | 162,088 | 4,158 | |||
* | Cymabay Therapeutics Inc. | 951,704 | 4,149 | |||
* | Cerecor Inc. | 1,260,718 | 4,123 | |||
*,1 | GT Biopharma Inc. | 263,619 | 4,086 | |||
* | Paratek Pharmaceuticals Inc. | 598,403 | 4,081 | |||
* | Praxis Precision Medicines Inc. | 222,033 | 4,059 | |||
* | ClearPoint Neuro Inc. | 211,302 | 4,034 | |||
* | Kinnate Biopharma Inc. | 173,255 | 4,033 | |||
* | Misonix Inc. | 180,234 | 3,998 | |||
* | Invacare Corp. | 493,404 | 3,982 | |||
* | Trevena Inc. | 2,322,625 | 3,925 | |||
* | Aeglea BioTherapeutics Inc. | 554,671 | 3,861 | |||
*,1 | Athersys Inc. | 2,674,464 | 3,851 | |||
* | Atea Pharmaceuticals Inc. | 177,667 | 3,816 | |||
* | Infinity Pharmaceuticals Inc. | 1,265,649 | 3,784 | |||
* | Mirum Pharmaceuticals Inc. | 218,362 | 3,775 | |||
*,1 | Accelerate Diagnostics Inc. | 460,967 | 3,715 | |||
* | MEI Pharma Inc. | 1,300,888 | 3,708 | |||
* | Pliant Therapeutics Inc. | 126,989 | 3,698 | |||
*,1 | Seelos Therapeutics Inc. | 1,397,239 | 3,689 | |||
* | Magenta Therapeutics Inc. | 376,216 | 3,679 | |||
* | Ontrak Inc. | 112,315 | 3,648 | |||
* | ORIC Pharmaceuticals Inc. | 205,956 | 3,643 | |||
* | Prometheus Biosciences Inc. | 146,731 | 3,604 | |||
* | Mustang Bio Inc. | 1,075,925 | 3,572 | |||
* | Fortress Biotech Inc. | 987,801 | 3,526 | |||
* | PDS Biotechnology Corp. | 280,221 | 3,517 | |||
* | Castlight Health Inc. Class B | 1,330,196 | 3,498 | |||
*,1 | Zynerba Pharmaceuticals Inc. | 657,052 | 3,476 | |||
* | WaVe Life Sciences Ltd. | 514,829 | 3,429 | |||
*,1 | ADMA Biologics Inc. | 2,137,532 | 3,420 | |||
* | Chiasma Inc. | 722,239 | 3,416 | |||
* | Design Therapeutics Inc. | 171,436 | 3,410 | |||
* | XBiotech Inc. | 205,238 | 3,399 | |||
* | Atreca Inc. Class A | 394,769 | 3,363 | |||
*,1 | Pieris Pharmaceuticals Inc. | 876,649 | 3,358 | |||
* | Edgewise Therapeutics Inc. | 157,217 | 3,353 | |||
* | Outlook Therapeutics Inc. | 1,344,080 | 3,347 | |||
*,1 | Soliton Inc. | 145,849 | 3,280 | |||
*,1 | Clene Inc. | 289,830 | 3,258 | |||
* | Solid Biosciences Inc. | 887,181 | 3,247 | |||
* | Harrow Health Inc. | 348,655 | 3,239 | |||
*,1 | Pulse Biosciences Inc. | 194,880 | 3,196 | |||
*,1 | CorMedix Inc. | 459,676 | 3,153 | |||
*,1 | Corbus Pharmaceuticals Holdings Inc. | 1,707,491 | 3,125 | |||
* | Co-Diagnostics Inc. | 377,526 | 3,115 | |||
* | Conformis Inc. | 2,705,690 | 3,112 | |||
* | Aligos Therapeutics Inc. | 152,655 | 3,112 | |||
* | Adamas Pharmaceuticals Inc. | 573,050 | 3,026 | |||
* | Oyster Point Pharma Inc. | 172,643 | 2,968 | |||
*,1 | Oncternal Therapeutics Inc. | 624,098 | 2,964 | |||
* | Gemini Therapeutics Inc. Class A | 457,546 | 2,960 | |||
* | Arbutus Biopharma Corp. | 971,703 | 2,944 | |||
* | Apria Inc. | 104,626 | 2,930 | |||
* | 4D Molecular Therapeutics Inc. | 121,476 | 2,925 | |||
* | Hookipa Pharma Inc. | 319,262 | 2,924 | |||
1 | Forian Inc. | 228,700 | 2,875 | |||
* | Clearside Biomedical Inc. | 587,354 | 2,860 | |||
*,1 | MyMD Pharmaceuticals Inc. | 451,063 | 2,842 | |||
* | IntriCon Corp. | 125,924 | 2,831 |
Shares | Market Value ($000) | |||||
* | 9 Meters Biopharma Inc. | 2,572,858 | 2,830 | |||
* | Kezar Life Sciences Inc. | 519,145 | 2,819 | |||
* | Fulcrum Therapeutics Inc. | 264,326 | 2,770 | |||
*,1 | VYNE Therapeutics Inc. | 785,168 | 2,756 | |||
* | Inhibrx Inc. | 99,759 | 2,745 | |||
*,1 | Viracta Therapeutics Inc. | 241,903 | 2,743 | |||
* | F-star Therapeutics Inc. | 316,221 | 2,716 | |||
*,1 | Kala Pharmaceuticals Inc. | 511,749 | 2,712 | |||
*,1 | Vor BioPharma Inc. | 145,100 | 2,706 | |||
* | Taysha Gene Therapies Inc. | 126,546 | 2,683 | |||
* | Black Diamond Therapeutics Inc. | 218,408 | 2,662 | |||
*,1 | Evofem Biosciences Inc. | 2,345,720 | 2,651 | |||
* | Immunic Inc. | 216,020 | 2,648 | |||
*,1 | Jaguar Health Inc. | 1,667,073 | 2,634 | |||
* | Gritstone bio Inc. | 282,287 | 2,577 | |||
* | Cardiff Oncology Inc. | 387,033 | 2,574 | |||
*,1 | MediciNova Inc. | 602,341 | 2,560 | |||
* | Celcuity Inc. | 106,116 | 2,547 | |||
*,1 | T2 Biosystems Inc. | 2,112,481 | 2,514 | |||
*,1 | Clever Leaves Holdings Inc. | 245,652 | 2,493 | |||
* | Acutus Medical Inc. | 146,640 | 2,490 | |||
* | Tarsus Pharmaceuticals Inc. | 85,761 | 2,485 | |||
* | Synlogic Inc. | 630,910 | 2,454 | |||
*,1 | Retractable Technologies Inc. | 212,160 | 2,453 | |||
* | Bolt Biotherapeutics Inc. | 158,059 | 2,444 | |||
*,1 | Kaleido Biosciences Inc. | 328,390 | 2,443 | |||
* | Marker Therapeutics Inc. | 874,800 | 2,441 | |||
* | Viridian Therapeutics Inc. | 133,095 | 2,434 | |||
* | Akouos Inc. | 192,464 | 2,415 | |||
* | EyePoint Pharmaceuticals Inc. | 268,616 | 2,415 | |||
* | Jounce Therapeutics Inc. | 353,899 | 2,407 | |||
* | Athira Pharma Inc. | 233,951 | 2,396 | |||
* | Exagen Inc. | 159,272 | 2,387 | |||
*,1 | Heat Biologics Inc. | 354,060 | 2,383 | |||
* | Savara Inc. | 1,399,752 | 2,380 | |||
*,1 | AVEO Pharmaceuticals Inc. | 359,293 | 2,368 | |||
* | Checkpoint Therapeutics Inc. | 791,620 | 2,335 | |||
* | Catalyst Biosciences Inc. | 535,995 | 2,321 | |||
*,1 | Surface Oncology Inc. | 311,001 | 2,320 | |||
* | Eloxx Pharmaceuticals Inc. | 1,165,259 | 2,319 | |||
* | Lannett Co. Inc. | 494,850 | 2,311 | |||
* | iRadimed Corp. | 78,349 | 2,304 | |||
* | 89bio Inc. | 122,295 | 2,287 | |||
*,1 | AcelRx Pharmaceuticals Inc. | 1,647,649 | 2,274 | |||
* | Ovid therapeutics Inc. | 580,240 | 2,269 | |||
* | Codiak Biosciences Inc. | 122,349 | 2,267 | |||
* | PhaseBio Pharmaceuticals Inc. | 603,986 | 2,247 | |||
* | CTI BioPharma Corp. | 888,475 | 2,221 | |||
* | Surgalign Holdings Inc. | 1,579,136 | 2,195 | |||
* | Applied Genetic Technologies Corp. | 560,171 | 2,190 | |||
*,1 | Talis Biomedical Corp. | 197,056 | 2,174 | |||
* | Hepion Pharmaceuticals Inc. | 1,095,443 | 2,169 | |||
* | Galectin Therapeutics Inc. | 672,775 | 2,153 | |||
*,1 | Werewolf Therapeutics Inc. | 123,381 | 2,152 | |||
*,1 | SCYNEXIS Inc. | 290,315 | 2,137 | |||
*,1 | Adamis Pharmaceuticals Corp. | 1,939,054 | 2,133 | |||
*,1 | Novan Inc. | 211,113 | 2,124 | |||
* | Poseida Therapeutics Inc. | 210,978 | 2,114 | |||
*,1 | UNITY Biotechnology Inc. | 451,636 | 2,096 | |||
* | Bioventus Inc. Class A | 117,710 | 2,072 | |||
*,1 | 180 Life Sciences Corp. | 206,257 | 2,063 |
Shares | Market Value ($000) | |||||
*,1 | Inmune Bio Inc. | 117,066 | 2,057 | |||
* | Strongbridge Biopharma plc | 688,709 | 2,045 | |||
* | NeuroPace Inc. | 85,923 | 2,044 | |||
* | Assembly Biosciences Inc. | 522,841 | 2,029 | |||
*,1 | Repro-Med Systems Inc. | 435,387 | 2,016 | |||
*,1 | Genprex Inc. | 601,298 | 2,014 | |||
* | Enzo Biochem Inc. | 627,821 | 1,990 | |||
* | CASI Pharmaceuticals Inc. | 1,259,927 | 1,953 | |||
* | Calithera Biosciences Inc. | 926,583 | 1,937 | |||
* | Tela Bio Inc. | 118,909 | 1,916 | |||
* | Adicet Bio Inc. | 185,774 | 1,912 | |||
* | Sharps Compliance Corp. | 185,229 | 1,908 | |||
*,1 | Verrica Pharmaceuticals Inc. | 167,152 | 1,889 | |||
* | Biomea Fusion Inc. | 120,725 | 1,885 | |||
* | Vincerx Pharma Inc. | 144,384 | 1,876 | |||
* | Akoya Biosciences Inc. | 96,256 | 1,862 | |||
* | Larimar Therapeutics Inc. | 186,049 | 1,827 | |||
* | Five Star Senior Living Inc. | 314,433 | 1,811 | |||
* | Otonomy Inc. | 805,354 | 1,796 | |||
*,1 | Tyme Technologies Inc. | 1,423,912 | 1,794 | |||
* | IsoRay Inc. | 2,244,332 | 1,791 | |||
*,1 | SELLAS Life Sciences Group Inc. | 161,039 | 1,788 | |||
* | Tricida Inc. | 412,936 | 1,784 | |||
* | Cyclerion Therapeutics Inc. | 456,851 | 1,782 | |||
* | Lipocine Inc. | 1,268,147 | 1,775 | |||
*,1 | Palatin Technologies Inc. | 2,904,698 | 1,772 | |||
* | Ikena Oncology Inc. | 126,106 | 1,771 | |||
*,1 | Matinas BioPharma Holdings Inc. | 2,281,716 | 1,768 | |||
* | Oncorus Inc. | 127,797 | 1,764 | |||
* | Talaris Therapeutics Inc. | 120,103 | 1,764 | |||
* | Avinger Inc. | 1,419,200 | 1,746 | |||
* | Tracon Pharmaceuticals Inc. | 264,030 | 1,714 | |||
*,1 | Actinium Pharmaceuticals Inc. | 216,428 | 1,712 | |||
* | Pro-Dex Inc. | 55,605 | 1,699 | |||
*,1 | Finch Therapeutics Group Inc. | 120,736 | 1,699 | |||
*,1 | Aytu BioPharma Inc. | 338,714 | 1,697 | |||
* | TFF Pharmaceuticals Inc. | 174,626 | 1,678 | |||
*,1 | Moleculin Biotech Inc. | 456,531 | 1,675 | |||
*,1 | Biolase Inc. | 2,391,154 | 1,669 | |||
*,1 | Beyond Air Inc. | 255,952 | 1,659 | |||
* | Cabaletta Bio Inc. | 192,579 | 1,656 | |||
*,1 | Onconova Therapeutics Inc. | 237,625 | 1,647 | |||
* | FONAR Corp. | 92,762 | 1,640 | |||
* | SQZ Biotechnologies Co. | 113,026 | 1,633 | |||
*,1 | Inozyme Pharma Inc. | 95,747 | 1,632 | |||
* | Concert Pharmaceuticals Inc. | 385,906 | 1,629 | |||
* | Sio Gene Therapies Inc. | 595,200 | 1,625 | |||
* | ContraFect Corp. | 364,900 | 1,606 | |||
* | Figs Inc. Class A | 31,992 | 1,603 | |||
* | Eledon Pharmaceuticals Inc. | 202,056 | 1,598 | |||
* | NexImmune Inc. | 97,825 | 1,597 | |||
* | NextCure Inc. | 198,763 | 1,596 | |||
*,1 | VolitionRX Ltd. | 481,021 | 1,583 | |||
* | Rain Therapeutics Inc. | 101,444 | 1,576 | |||
*,1 | Agile Therapeutics Inc. | 1,183,275 | 1,574 | |||
*,1 | Capricor Therapeutics Inc. | 304,679 | 1,563 | |||
* | NantHealth Inc. | 671,472 | 1,558 | |||
* | BrainStorm Cell Therapeutics Inc. | 408,100 | 1,551 | |||
* | cbdMD Inc. | 532,486 | 1,544 | |||
* | Abeona Therapeutics Inc. | 983,956 | 1,535 | |||
*,1 | Orgenesis Inc. | 301,998 | 1,531 |
Shares | Market Value ($000) | |||||
*,1 | Eton Pharmaceuticals Inc. | 247,693 | 1,526 | |||
* | Voyager Therapeutics Inc. | 368,944 | 1,524 | |||
*,1 | Optinose Inc. | 484,591 | 1,507 | |||
* | X4 Pharmaceuticals Inc. | 231,241 | 1,503 | |||
*,1 | Milestone Scientific Inc. | 611,501 | 1,498 | |||
* | Exicure Inc. | 997,030 | 1,496 | |||
* | Alpine Immune Sciences Inc. | 164,025 | 1,476 | |||
* | Lantern Pharma Inc. | 99,700 | 1,456 | |||
* | Equillium Inc. | 243,522 | 1,434 | |||
*,1 | BioSig Technologies Inc. | 370,638 | 1,431 | |||
* | Apollo Endosurgery Inc. | 175,558 | 1,422 | |||
* | NeuBase Therapeutics Inc. | 296,095 | 1,418 | |||
* | Merrimack Pharmaceuticals Inc. | 221,783 | 1,417 | |||
*,1 | Zosano Pharma Corp. | 1,490,303 | 1,416 | |||
* | Capital Senior Living Corp. | 28,463 | 1,409 | |||
* | Aptevo Therapeutics Inc. | 62,672 | 1,406 | |||
* | Aileron Therapeutics Inc. | 1,111,963 | 1,390 | |||
*,1 | Aptinyx Inc. Class A | 490,278 | 1,387 | |||
* | Eyenovia Inc. | 278,865 | 1,383 | |||
*,1 | Caladrius Biosciences Inc. | 855,364 | 1,377 | |||
* | Protara Therapeutics Inc. | 141,207 | 1,375 | |||
* | GlycoMimetics Inc. | 585,947 | 1,359 | |||
* | Reneo Pharmaceuticals Inc. | 144,757 | 1,351 | |||
* | Doximity Inc. Class A | 23,149 | 1,347 | |||
* | Galera Therapeutics Inc. | 136,099 | 1,338 | |||
* | AIM ImmunoTech Inc. | 621,990 | 1,337 | |||
*,1 | Enochian Biosciences Inc. | 265,200 | 1,318 | |||
*,1 | Nemaura Medical Inc. | 126,945 | 1,314 | |||
* | Celsion Corp. | 1,031,288 | 1,310 | |||
*,1 | Precipio Inc. | 354,107 | 1,285 | |||
* | Foghorn Therapeutics Inc. | 120,415 | 1,285 | |||
* | Terns Pharmaceuticals Inc. | 104,594 | 1,282 | |||
*,1 | La Jolla Pharmaceutical Co. | 299,121 | 1,280 | |||
* | Anixa Biosciences Inc. | 329,309 | 1,278 | |||
* | AIkido Pharma Inc. | 1,332,059 | 1,275 | |||
*,1 | Second Sight Medical Products Inc. | 256,669 | 1,268 | |||
* | LogicBio Therapeutics Inc. | 283,745 | 1,260 | |||
*,1 | Rockwell Medical Inc. | 1,326,746 | 1,207 | |||
* | Landos Biopharma Inc. | 103,643 | 1,197 | |||
*,1 | Liquidia Corp. | 414,269 | 1,185 | |||
*,1 | Synthetic Biologics Inc. | 1,950,906 | 1,175 | |||
* | Spruce Biosciences Inc. | 104,705 | 1,174 | |||
* | Delcath Systems Inc. | 92,853 | 1,171 | |||
* | IRIDEX Corp. | 164,887 | 1,164 | |||
* | LENSAR Inc. | 133,880 | 1,159 | |||
*,1 | Aquestive Therapeutics Inc. | 290,879 | 1,155 | |||
* | Minerva Neurosciences Inc. | 491,858 | 1,141 | |||
* | ENDRA Life Sciences Inc. | 516,833 | 1,127 | |||
* | Odonate Therapeutics Inc. | 320,614 | 1,119 | |||
* | Electromed Inc. | 98,539 | 1,113 | |||
* | Angion Biomedica Corp. | 84,982 | 1,106 | |||
*,1 | Progenity Inc. | 308,342 | 1,101 | |||
ProPhase Labs Inc. | 177,100 | 1,098 | ||||
*,1 | Greenwich Lifesciences Inc. | 24,425 | 1,098 | |||
* | Verve Therapeutics Inc. | 18,081 | 1,089 | |||
* | Cidara Therapeutics Inc. | 528,593 | 1,068 | |||
* | Diffusion Pharmaceuticals Inc. | 1,455,326 | 1,062 | |||
*,1 | Aethlon Medical Inc. | 214,682 | 1,056 | |||
* | Axcella Health Inc. | 260,381 | 1,044 | |||
* | Streamline Health Solutions Inc. | 585,779 | 1,037 | |||
* | Sigilon Therapeutics Inc. | 95,474 | 1,024 |
Shares | Market Value ($000) | |||||
* | DiaMedica Therapeutics Inc. | 229,660 | 1,022 | |||
* | CareCloud Inc. | 120,480 | 1,014 | |||
*,1 | Ekso Bionics Holdings Inc. | 180,167 | 991 | |||
*,1 | Organovo Holdings Inc. | 105,062 | 988 | |||
* | Leap Therapeutics Inc. | 598,301 | 981 | |||
* | Baudax Bio Inc. | 1,272,334 | 968 | |||
*,1 | Dyadic International Inc. | 269,600 | 968 | |||
* | Dare Bioscience Inc. | 509,543 | 963 | |||
* | Assertio Holdings Inc. | 613,637 | 957 | |||
* | Decibel Therapeutics Inc. | 110,721 | 952 | |||
* | Sensei Biotherapeutics Inc. | 96,711 | 944 | |||
* | Oragenics Inc. | 1,333,996 | 941 | |||
*,1 | Regulus Therapeutics Inc. | 1,156,989 | 941 | |||
*,1 | Aprea Therapeutics Inc. | 188,253 | 919 | |||
* | Biocept Inc. | 218,867 | 917 | |||
* | Recro Pharma Inc. | 393,139 | 908 | |||
* | Microbot Medical Inc. | 113,841 | 904 | |||
*,1 | Cocrystal Pharma Inc. | 716,237 | 895 | |||
*,1 | Corvus Pharmaceuticals Inc. | 328,117 | 876 | |||
*,1 | Aravive Inc. | 145,805 | 872 | |||
*,1 | Lucira Health Inc. | 130,873 | 869 | |||
*,1 | Soleno Therapeutics Inc. | 753,533 | 859 | |||
*,1 | Kintara Therapeutics Inc. | 377,910 | 858 | |||
*,1 | Chembio Diagnostics Inc. | 288,247 | 856 | |||
*,1 | Cohbar Inc. | 607,943 | 851 | |||
* | Immunome Inc. | 48,821 | 845 | |||
*,1 | Aerpio Pharmaceuticals Inc. | 498,929 | 843 | |||
* | OpGen Inc. | 361,228 | 820 | |||
* | Biodesix Inc. | 59,097 | 781 | |||
*,1 | Idera Pharmaceuticals Inc. | 648,437 | 778 | |||
* | Calyxt Inc. | 193,297 | 777 | |||
*,1 | Vyant Bio Inc. | 199,679 | 747 | |||
*,1 | Qualigen Therapeutics Inc. | 373,111 | 742 | |||
*,1 | PolarityTE Inc. | 724,685 | 739 | |||
* | Satsuma Pharmaceuticals Inc. | 103,894 | 732 | |||
*,1 | Hancock Jaffe Laboratories Inc. | 104,806 | 720 | |||
* | Predictive Oncology Inc. | 546,261 | 716 | |||
* | Achieve Life Sciences Inc. | 79,456 | 714 | |||
* | Opiant Pharmaceuticals Inc. | 50,903 | 704 | |||
* | vTv Therapeutics Inc. Class A | 306,532 | 699 | |||
*,1 | SiNtx Technologies Inc. | 363,149 | 697 | |||
*,1 | Advaxis Inc. | 1,483,827 | 688 | |||
*,1 | Brickell Biotech Inc. | 718,364 | 683 | |||
* | Champions Oncology Inc. | 66,282 | 681 | |||
*,1 | Biomerica Inc. | 169,548 | 680 | |||
* | Sanara Medtech Inc. | 18,363 | 679 | |||
* | Cellectar Biosciences Inc. | 566,291 | 674 | |||
* | Myomo Inc. | 61,752 | 667 | |||
* | aTyr Pharma Inc. | 136,758 | 667 | |||
* | Bio-Path Holdings Inc. | 95,597 | 638 | |||
* | Convey Holding Parent Inc. | 55,702 | 634 | |||
* | ImmuCell Corp. | 66,498 | 632 | |||
* | scPharmaceuticals Inc. | 103,047 | 630 | |||
* | Monte Rosa Therapeutics Inc. | 27,376 | 621 | |||
* | ElectroCore Inc. | 520,441 | 619 | |||
* | Great Elm Group Inc. | 276,253 | 619 | |||
* | Sensus Healthcare Inc. | 159,743 | 615 | |||
*,1 | Osmotica Pharmaceuticals plc | 200,978 | 605 | |||
* | Allena Pharmaceuticals Inc. | 463,039 | 602 | |||
* | Genocea Biosciences Inc. | 255,951 | 599 | |||
*,1 | Applied DNA Sciences Inc. | 87,895 | 597 |
Shares | Market Value ($000) | |||||
*,1 | AzurRx BioPharma Inc. | 727,509 | 597 | |||
*,1 | OncoSec Medical Inc. | 210,348 | 591 | |||
* | Edesa Biotech Inc. | 106,609 | 563 | |||
*,1 | Acorda Therapeutics Inc. | 117,425 | 560 | |||
* | Pulmatrix Inc. | 537,282 | 559 | |||
*,1 | BioVie Inc. Class A | 32,769 | 555 | |||
*,1 | NanoViricides Inc. | 118,568 | 550 | |||
* | Aridis Pharmaceuticals Inc. | 74,302 | 550 | |||
*,1 | Catabasis Pharmaceuticals Inc. | 259,639 | 548 | |||
* | Psychemedics Corp. | 78,603 | 547 | |||
*,1 | Graybug Vision Inc. | 96,995 | 527 | |||
* | Cyclo Therapeutics Inc. | 51,376 | 526 | |||
*,1 | Cleveland BioLabs Inc. | 96,003 | 525 | |||
* | Bellerophon Therapeutics Inc. | 108,278 | 524 | |||
*,1 | IMARA Inc. | 65,866 | 520 | |||
* | Cyclacel Pharmaceuticals Inc. | 87,352 | 517 | |||
* | Lyell Immunopharma Inc. | 31,811 | 517 | |||
* | Day One Biopharmaceuticals Inc. | 22,454 | 511 | |||
* | Navidea Biopharmaceuticals Inc. | 278,365 | 509 | |||
*,1 | INVO BioScience Inc. | 106,226 | 494 | |||
* | Evoke Pharma Inc. | 358,936 | 492 | |||
* | Alimera Sciences Inc. | 53,677 | 488 | |||
*,1 | ARCA biopharma Inc. | 137,498 | 480 | |||
* | Processa Pharmaceuticals Inc. | 58,438 | 479 | |||
*,1 | Motus GI Holdings Inc. | 449,879 | 468 | |||
* | BioCardia Inc. | 117,857 | 468 | |||
*,1 | Teligent Inc. | 865,731 | 463 | |||
* | GeoVax Labs Inc. | 91,677 | 458 | |||
* | Regional Health Properties Inc. | 32,823 | 451 | |||
*,1 | Soligenix Inc. | 403,677 | 448 | |||
* | LifeStance Health Group Inc. | 15,928 | 444 | |||
*,1 | Adial Pharmaceuticals Inc. | 171,932 | 438 | |||
*,1 | Enveric Biosciences Inc. | 181,583 | 432 | |||
* | Helius Medical Technologies Inc. | 24,943 | 423 | |||
* | Lumos Pharma Inc. | 42,462 | 422 | |||
* | Cyteir Therapeutics Inc. | 19,510 | 418 | |||
*,1 | HTG Molecular Diagnostics Inc. | 71,355 | 415 | |||
* | AgeX Therapeutics Inc. | 258,811 | 401 | |||
* | Venus Concept Inc. | 128,833 | 401 | |||
*,2 | Tobira Therapeutics Inc. CVR Exp. 12/31/2028 | 87,894 | 398 | |||
* | Alpha Teknova Inc. | 16,428 | 390 | |||
* | CVRx Inc. | 13,726 | 384 | |||
* | Plus Therapeutics Inc. | 147,187 | 377 | |||
* | Tenax Therapeutics Inc. | 173,801 | 377 | |||
*,1 | Reviva Pharmaceuticals Holdings Inc. | 77,006 | 374 | |||
*,1 | SunLink Health Systems Inc. | 108,130 | 370 | |||
* | Entasis Therapeutics Holdings Inc. | 137,238 | 366 | |||
* | Strata Skin Sciences Inc. | 237,025 | 365 | |||
* | Salarius Pharmaceuticals Inc. | 338,547 | 359 | |||
* | Lyra Therapeutics Inc. | 43,879 | 352 | |||
* | Yumanity Therapeutics Inc. | 29,214 | 340 | |||
*,1 | CNS Pharmaceuticals Inc. | 172,272 | 338 | |||
*,1 | Viveve Medical Inc. | 114,231 | 338 | |||
*,1 | Vaccinex Inc. | 120,227 | 337 | |||
* | Vivos Therapeutics Inc. | 67,256 | 333 | |||
*,1 | RA Medical Systems Inc. | 74,338 | 325 | |||
* | Benitec Biopharma Inc. | 74,773 | 318 | |||
* | Yield10 Bioscience Inc. | 37,034 | 316 | |||
* | Avenue Therapeutics Inc. | 125,030 | 314 | |||
*,2 | Alder Biopharmaceuticals Inc. CVR Exp. 12/31/2024 | 355,460 | 313 | |||
* | Kewaunee Scientific Corp. | 21,515 | 310 |
Shares | Market Value ($000) | |||||
* | Singular Genomics Systems Inc. | 11,200 | 308 | |||
*,1 | Bellicum Pharmaceuticals Inc. | 92,891 | 307 | |||
*,1 | Aditx Therapeutics Inc. | 118,558 | 307 | |||
* | Codex DNA Inc. | 13,949 | 307 | |||
* | Phio Pharmaceuticals Corp. | 135,191 | 306 | |||
* | Histogen Inc. | 263,497 | 287 | |||
* | Monopar Therapeutics Inc. | 45,070 | 265 | |||
*,1 | NanoVibronix Inc. | 308,919 | 263 | |||
*,1 | ReShape Lifesciences Inc. | 51,120 | 256 | |||
*,1 | Graphite Bio Inc. | 8,223 | 253 | |||
*,1 | NovaBay Pharmaceuticals Inc. | 373,541 | 251 | |||
*,1 | Hoth Therapeutics Inc. | 156,163 | 250 | |||
*,1 | Checkmate Pharmaceuticals Inc. | 41,612 | 248 | |||
*,1 | Impel Neuropharma Inc. | 27,954 | 247 | |||
* | Century Therapeutics Inc. | 8,366 | 245 | |||
* | Cumberland Pharmaceuticals Inc. | 83,401 | 237 | |||
* | Longeveron Inc. Class A | 28,260 | 230 | |||
* | Trevi Therapeutics Inc. | 100,874 | 227 | |||
* | NeuroMetrix Inc. | 66,234 | 226 | |||
*,1 | InVivo Therapeutics Holdings Corp. | 301,862 | 224 | |||
*,1 | Allied Healthcare Products Inc. | 53,862 | 223 | |||
* | Elevation Oncology Inc. | 16,420 | 223 | |||
*,1 | Artelo Biosciences Inc. | 184,000 | 219 | |||
*,1 | Windtree Therapeutics Inc. | 95,328 | 218 | |||
*,1 | ThermoGenesis Holdings Inc. | 77,065 | 204 | |||
* | Nuwellis Inc. | 48,665 | 204 | |||
* | Sonoma Pharmaceuticals Inc. | 27,591 | 203 | |||
Petros Pharmaceuticals Inc. | 64,076 | 202 | ||||
*,1 | Janux Therapeutics Inc. | 8,067 | 201 | |||
* | American Shared Hospital Services | 68,306 | 200 | |||
*,1 | Star Equity Holdings Inc. | 63,587 | 197 | |||
* | Ocuphire Pharma Inc. | 37,099 | 196 | |||
* | Acer Therapeutics Inc. | 68,311 | 195 | |||
*,1 | SCWorx Corp. | 109,982 | 191 | |||
*,1 | Titan Pharmaceuticals Inc. | 72,773 | 189 | |||
* | Vera Therapeutics Inc. Class A | 14,263 | 189 | |||
*,1 | Tempest Therapeutics Inc. | 16,896 | 189 | |||
* | Xenetic Biosciences Inc. | 90,724 | 185 | |||
*,1 | Lexaria Bioscience Corp. | 25,976 | 182 | |||
*,1 | Palisade Bio Inc. | 41,615 | 169 | |||
* | EyeGate Pharmaceuticals Inc. | 43,540 | 158 | |||
* | NeuroBo Pharmaceuticals Inc. | 47,464 | 158 | |||
*,1 | Sonnet BioTherapeutics Holdings Inc. | 96,871 | 153 | |||
* | Lixte Biotechnology Holdings Inc. | 48,388 | 147 | |||
* | Metacrine Inc. | 37,740 | 143 | |||
* | Longboard Pharmaceuticals Inc. | 15,283 | 139 | |||
*,1 | Dynatronics Corp. | 105,988 | 127 | |||
*,1 | Senestech Inc. | 77,831 | 125 | |||
*,1 | Timber Pharmaceuticals Inc. | 95,828 | 117 | |||
* | Galecto Inc. | 22,500 | 114 | |||
* | CynergisTek Inc. | 55,455 | 113 | |||
* | Aziyo Biologics Inc. Class A | 11,215 | 108 | |||
* | Inhibikase Therapeutics Inc. | 34,800 | 97 | |||
* | Imac Holdings Inc. | 46,484 | 92 | |||
*,2 | Aduro Biotech Inc. CVR | 150,581 | 90 | |||
* | Virios Therapeutics Inc. | 14,111 | 89 | |||
* | Armata Pharmaceuticals Inc. | 21,828 | 87 | |||
* | Avalon GloboCare Corp. | 76,771 | 75 | |||
*,1 | GBS Inc. | 18,854 | 74 | |||
*,1 | Xtant Medical Holdings Inc. | 44,170 | 72 | |||
* | Protagenic Therapeutics Inc. | 20,783 | 60 |
Shares | Market Value ($000) | |||||
*,1 | Panbela Therapeutics Inc. | 20,849 | 59 | |||
* | Kiromic BioPharma Inc. | 10,414 | 50 | |||
* | Aerovate Therapeutics Inc. | 2,096 | 48 | |||
* | Kadmon Holdings Inc. Warrants Exp. 09/28/2022 | 105,015 | 22 | |||
*,1,2 | Oncternal Therapeutics Inc. CVR | 20,153 | 21 | |||
*,2 | Aevi Genomic Medicine Inc. CVR | 631,947 | 21 | |||
*,2 | Elanco Animal Health Inc. CVR | 701,074 | 18 | |||
*,2 | Salarius Pharmaceuticals Inc. Rights Exp. 12/31/2049 | 119,407 | 15 | |||
*,2 | Ocera Therapeutics Inc. CVR | 48,417 | 13 | |||
*,2 | Qualigen Therapeutics Inc. CVR | 91,096 | 6 | |||
*,2 | Alexza Pharmaceuticals Inc. CVR | 128,704 | 5 | |||
* | Ligand Pharmaceuticals Glucagon CVR | 395,811 | 5 | |||
* | Ligand Pharmaceuticals General CVR | 395,811 | 5 | |||
* | Virpax Pharmaceuticals Inc. | 1,000 | 5 | |||
* | Ligand Pharmaceuticals Roche CVR | 395,811 | 4 | |||
*,1,2 | Seelos Therapeutics Inc. CVR | 5,736 | 3 | |||
*,2 | Ambit Biosciences Corp. CVR | 22,388 | — | |||
*,2 | NeuroBo Pharmaceuticals Inc. CVR | 5,194 | — | |||
* | Advaxis Inc. Warrants Exp. 09/11/2024 | 47,130 | — | |||
*,2 | Lantheus Holdings Inc. CVR | 1,316,898 | — | |||
*,2 | Phenomix Corp. CVR | 47 | — | |||
*,2 | Achillion Pharmaceuticals Inc. CVR | 374 | — | |||
17,557,478 | ||||||
Industrials (13.27%) | ||||||
* | Uber Technologies Inc. | 21,037,893 | 1,054,419 | |||
* | CoStar Group Inc. | 5,585,352 | 462,579 | |||
TransUnion | 2,703,400 | 296,860 | ||||
* | Plug Power Inc. | 7,255,048 | 248,050 | |||
* | Lyft Inc. Class A | 3,648,701 | 220,673 | |||
* | XPO Logistics Inc. | 1,437,138 | 201,041 | |||
Graco Inc. | 2,400,862 | 181,745 | ||||
Lennox International Inc. | 487,125 | 170,883 | ||||
Nordson Corp. | 766,310 | 168,213 | ||||
* | Trex Co. Inc. | 1,631,917 | 166,798 | |||
Toro Co. | 1,513,114 | 166,261 | ||||
Booz Allen Hamilton Holding Corp. Class A | 1,924,971 | 163,969 | ||||
* | Axon Enterprise Inc. | 915,755 | 161,905 | |||
Owens Corning | 1,474,364 | 144,340 | ||||
Hubbell Inc. Class B | 769,640 | 143,800 | ||||
Carlisle Cos. Inc. | 740,960 | 141,805 | ||||
* | Middleby Corp. | 785,613 | 136,115 | |||
Watsco Inc. | 464,458 | 133,132 | ||||
* | AECOM | 2,062,048 | 130,569 | |||
* | Sensata Technologies Holding plc | 2,239,676 | 129,834 | |||
* | Sunrun Inc. | 2,276,895 | 127,005 | |||
* | Builders FirstSource Inc. | 2,918,526 | 124,504 | |||
HEICO Corp. Class A | 996,396 | 123,732 | ||||
Oshkosh Corp. | 963,742 | 120,121 | ||||
Donaldson Co. Inc. | 1,791,377 | 113,806 | ||||
AGCO Corp. | 870,169 | 113,453 | ||||
ITT Inc. | 1,214,341 | 111,221 | ||||
Lincoln Electric Holdings Inc. | 842,277 | 110,936 | ||||
* | SiteOne Landscape Supply Inc. | 628,821 | 106,434 | |||
* | IAA Inc. | 1,907,533 | 104,037 | |||
* | Clarivate plc | 3,731,652 | 102,732 | |||
Woodward Inc. | 829,931 | 101,982 | ||||
Vertiv Holdings Co. Class A | 3,502,098 | 95,607 | ||||
EMCOR Group Inc. | 774,581 | 95,421 | ||||
Acuity Brands Inc. | 507,235 | 94,868 | ||||
Tetra Tech Inc. | 765,150 | 93,379 | ||||
* | Stericycle Inc. | 1,302,614 | 93,202 |
Shares | Market Value ($000) | |||||
ManpowerGroup Inc. | 775,363 | 92,198 | ||||
HEICO Corp. | 633,821 | 88,367 | ||||
*,1 | Virgin Galactic Holdings Inc. | 1,885,462 | 86,731 | |||
* | CACI International Inc. Class A | 335,742 | 85,655 | |||
Landstar System Inc. | 541,808 | 85,617 | ||||
MSA Safety Inc. | 513,767 | 85,070 | ||||
* | AZEK Co. Inc. Class A | 2,002,927 | 85,044 | |||
Rexnord Corp. | 1,691,869 | 84,661 | ||||
* | MasTec Inc. | 797,552 | 84,620 | |||
Advanced Drainage Systems Inc. | 711,301 | 82,916 | ||||
* | WillScot Mobile Mini Holdings Corp. | 2,963,867 | 82,603 | |||
*,1 | ChargePoint Holdings Inc. | 2,300,301 | 79,912 | |||
Knight-Swift Transportation Holdings Inc. Class A | 1,739,587 | 79,082 | ||||
BWX Technologies Inc. | 1,348,893 | 78,398 | ||||
* | Saia Inc. | 371,369 | 77,798 | |||
Timken Co. | 963,114 | 77,617 | ||||
* | Colfax Corp. | 1,675,600 | 76,759 | |||
Regal Beloit Corp. | 573,165 | 76,523 | ||||
* | Upwork Inc. | 1,304,051 | 76,013 | |||
KBR Inc. | 1,978,070 | 75,463 | ||||
AMERCO | 127,824 | 75,339 | ||||
* | JetBlue Airways Corp. | 4,472,681 | 75,052 | |||
Flowserve Corp. | 1,851,924 | 74,670 | ||||
nVent Electric plc | 2,377,993 | 74,289 | ||||
* | Hexcel Corp. | 1,189,189 | 74,205 | |||
* | Chart Industries Inc. | 501,764 | 73,418 | |||
Armstrong World Industries Inc. | 679,710 | 72,906 | ||||
* | ASGN Inc. | 746,968 | 72,404 | |||
Science Applications International Corp. | 820,483 | 71,981 | ||||
Valmont Industries Inc. | 302,020 | 71,292 | ||||
* | RBC Bearings Inc. | 355,393 | 70,872 | |||
Spirit AeroSystems Holdings Inc. Class A | 1,490,742 | 70,348 | ||||
Curtiss-Wright Corp. | 579,426 | 68,813 | ||||
Simpson Manufacturing Co. Inc. | 605,561 | 66,878 | ||||
* | Clean Harbors Inc. | 713,110 | 66,419 | |||
* | FTI Consulting Inc. | 482,354 | 65,894 | |||
UFP Industries Inc. | 877,220 | 65,213 | ||||
Exponent Inc. | 728,440 | 64,984 | ||||
Crane Co. | 700,512 | 64,706 | ||||
* | WESCO International Inc. | 619,173 | 63,663 | |||
John Bean Technologies Corp. | 444,347 | 63,373 | ||||
Air Lease Corp. Class A | 1,516,545 | 63,301 | ||||
Allison Transmission Holdings Inc. | 1,546,183 | 61,445 | ||||
* | Resideo Technologies Inc. | 2,009,325 | 60,280 | |||
MSC Industrial Direct Co. Inc. Class A | 662,371 | 59,435 | ||||
EnerSys | 606,198 | 59,244 | ||||
* | Univar Solutions Inc. | 2,383,549 | 58,111 | |||
Watts Water Technologies Inc. Class A | 390,552 | 56,985 | ||||
* | Avis Budget Group Inc. | 726,853 | 56,615 | |||
* | Evoqua Water Technologies Corp. | 1,670,131 | 56,417 | |||
Ryder System Inc. | 757,146 | 56,279 | ||||
*,1 | Stem Inc. | 1,544,776 | 55,627 | |||
Altra Industrial Motion Corp. | 850,694 | 55,312 | ||||
Korn Ferry | 751,304 | 54,507 | ||||
Brink's Co. | 690,139 | 53,030 | ||||
* | Mercury Systems Inc. | 790,941 | 52,424 | |||
UniFirst Corp. | 217,676 | 51,076 | ||||
Aerojet Rocketdyne Holdings Inc. | 1,055,264 | 50,959 | ||||
* | Kirby Corp. | 838,582 | 50,852 | |||
Applied Industrial Technologies Inc. | 550,283 | 50,109 | ||||
* | Kratos Defense & Security Solutions Inc. | 1,716,178 | 48,894 |
Shares | Market Value ($000) | |||||
Triton International Ltd. | 928,954 | 48,621 | ||||
* | Atkore Inc. | 669,379 | 47,526 | |||
Terex Corp. | 995,023 | 47,383 | ||||
Hillenbrand Inc. | 1,073,384 | 47,315 | ||||
* | Spirit Airlines Inc. | 1,513,723 | 46,078 | |||
Insperity Inc. | 505,317 | 45,666 | ||||
* | Bloom Energy Corp. Class A | 1,697,923 | 45,623 | |||
*,3 | API Group Corp. | 2,179,359 | 45,527 | |||
GATX Corp. | 501,241 | 44,345 | ||||
Franklin Electric Co. Inc. | 542,334 | 43,723 | ||||
* | Casella Waste Systems Inc. Class A | 683,867 | 43,378 | |||
Kennametal Inc. | 1,197,733 | 43,023 | ||||
* | Beacon Roofing Supply Inc. | 783,981 | 41,747 | |||
* | Welbilt Inc. | 1,797,529 | 41,613 | |||
* | Dun & Bradstreet Holdings Inc. | 1,938,060 | 41,416 | |||
ABM Industries Inc. | 932,839 | 41,371 | ||||
Arcosa Inc. | 689,093 | 40,477 | ||||
* | FuelCell Energy Inc. | 4,528,574 | 40,304 | |||
Maxar Technologies Inc. | 1,007,995 | 40,239 | ||||
* | Shoals Technologies Group Inc. Class A | 1,126,500 | 39,991 | |||
* | Herc Holdings Inc. | 355,069 | 39,793 | |||
* | TriNet Group Inc. | 548,579 | 39,761 | |||
Matson Inc. | 619,225 | 39,630 | ||||
* | SPX Corp. | 648,168 | 39,590 | |||
Comfort Systems USA Inc. | 502,313 | 39,577 | ||||
Macquarie Infrastructure Corp. | 1,033,006 | 39,533 | ||||
SPX FLOW Inc. | 603,764 | 39,390 | ||||
Albany International Corp. Class A | 439,504 | 39,230 | ||||
* | Allegiant Travel Co. | 202,108 | 39,209 | |||
* | Masonite International Corp. | 349,970 | 39,123 | |||
Herman Miller Inc. | 818,207 | 38,570 | ||||
Brady Corp. Class A | 676,597 | 37,917 | ||||
AAON Inc. | 583,769 | 36,538 | ||||
Werner Enterprises Inc. | 816,617 | 36,356 | ||||
*,1 | Nikola Corp. | 1,987,745 | 35,899 | |||
* | Proto Labs Inc. | 389,988 | 35,801 | |||
* | Gibraltar Industries Inc. | 467,327 | 35,662 | |||
Mueller Industries Inc. | 818,784 | 35,462 | ||||
Moog Inc. Class A | 418,377 | 35,169 | ||||
ESCO Technologies Inc. | 370,634 | 34,769 | ||||
Federal Signal Corp. | 864,186 | 34,766 | ||||
Forward Air Corp. | 383,270 | 34,398 | ||||
Barnes Group Inc. | 666,462 | 34,156 | ||||
ManTech International Corp. Class A | 388,644 | 33,633 | ||||
*,1 | TuSimple Holdings Inc. Class A | 470,603 | 33,526 | |||
Helios Technologies Inc. | 422,298 | 32,960 | ||||
Mueller Water Products Inc. Class A | 2,272,665 | 32,772 | ||||
Boise Cascade Co. | 560,619 | 32,712 | ||||
Healthcare Services Group Inc. | 1,034,376 | 32,655 | ||||
* | Dycom Industries Inc. | 437,557 | 32,611 | |||
* | Vicor Corp. | 304,089 | 32,154 | |||
* | JELD-WEN Holding Inc. | 1,208,668 | 31,740 | |||
* | Navistar International Corp. | 709,438 | 31,570 | |||
* | Fluor Corp. | 1,781,438 | 31,531 | |||
* | Hub Group Inc. Class A | 472,709 | 31,189 | |||
* | AeroVironment Inc. | 310,579 | 31,104 | |||
* | KAR Auction Services Inc. | 1,751,999 | 30,748 | |||
Trinity Industries Inc. | 1,131,354 | 30,422 | ||||
* | Cimpress plc | 278,719 | 30,216 | |||
Covanta Holding Corp. | 1,703,243 | 29,994 | ||||
* | SkyWest Inc. | 690,204 | 29,727 |
Shares | Market Value ($000) | |||||
* | GMS Inc. | 613,664 | 29,542 | |||
Kadant Inc. | 166,565 | 29,330 | ||||
Raven Industries Inc. | 501,547 | 29,015 | ||||
Deluxe Corp. | 604,864 | 28,894 | ||||
EnPro Industries Inc. | 293,561 | 28,519 | ||||
HNI Corp. | 627,347 | 27,584 | ||||
Granite Construction Inc. | 655,437 | 27,220 | ||||
McGrath RentCorp | 332,313 | 27,107 | ||||
Rush Enterprises Inc. Class A | 617,145 | 26,685 | ||||
* | Atlas Air Worldwide Holdings Inc. | 387,498 | 26,392 | |||
GrafTech International Ltd. | 2,228,278 | 25,893 | ||||
Lindsay Corp. | 155,760 | 25,744 | ||||
* | Meritor Inc. | 1,039,802 | 24,352 | |||
* | Array Technologies Inc. | 1,531,579 | 23,893 | |||
* | CBIZ Inc. | 723,753 | 23,717 | |||
CSW Industrials Inc. | 199,605 | 23,645 | ||||
*,1 | Desktop Metal Inc. Class A | 2,049,975 | 23,575 | |||
Enerpac Tool Group Corp. Class A | 871,343 | 23,195 | ||||
ADT Inc. | 2,140,250 | 23,093 | ||||
* | Harsco Corp. | 1,122,868 | 22,929 | |||
* | TPI Composites Inc. | 465,378 | 22,534 | |||
Encore Wire Corp. | 296,032 | 22,436 | ||||
Pitney Bowes Inc. | 2,485,348 | 21,797 | ||||
ICF International Inc. | 245,612 | 21,579 | ||||
Primoris Services Corp. | 726,711 | 21,387 | ||||
ArcBest Corp. | 366,831 | 21,346 | ||||
* | MYR Group Inc. | 230,259 | 20,935 | |||
Greenbrier Cos. Inc. | 475,155 | 20,707 | ||||
Astec Industries Inc. | 327,562 | 20,617 | ||||
Alamo Group Inc. | 134,474 | 20,531 | ||||
* | Ameresco Inc. Class A | 326,147 | 20,456 | |||
Tennant Co. | 253,712 | 20,259 | ||||
* | PGT Innovations Inc. | 859,302 | 19,962 | |||
* | Air Transport Services Group Inc. | 854,671 | 19,854 | |||
Kaman Corp. | 386,013 | 19,455 | ||||
Steelcase Inc. Class A | 1,286,597 | 19,440 | ||||
Columbus McKinnon Corp. | 401,436 | 19,365 | ||||
* | American Woodmark Corp. | 228,589 | 18,673 | |||
* | AAR Corp. | 474,388 | 18,383 | |||
* | CoreCivic Inc. | 1,728,782 | 18,100 | |||
* | Triumph Group Inc. | 865,248 | 17,954 | |||
* | TriMas Corp. | 589,495 | 17,879 | |||
* | Gates Industrial Corp. plc | 980,273 | 17,714 | |||
Knoll Inc. | 673,213 | 17,497 | ||||
Shyft Group Inc. | 466,042 | 17,435 | ||||
AZZ Inc. | 335,659 | 17,380 | ||||
Griffon Corp. | 661,128 | 16,945 | ||||
* | Hawaiian Holdings Inc. | 693,996 | 16,913 | |||
* | NV5 Global Inc. | 174,487 | 16,491 | |||
*,1 | Hyliion Holdings Corp. | 1,411,802 | 16,447 | |||
Kforce Inc. | 259,501 | 16,330 | ||||
* | US Ecology Inc. | 427,127 | 16,026 | |||
* | Construction Partners Inc. Class A | 502,116 | 15,766 | |||
* | IES Holdings Inc. | 305,457 | 15,688 | |||
Standex International Corp. | 164,331 | 15,597 | ||||
* | Lydall Inc. | 253,631 | 15,350 | |||
Apogee Enterprises Inc. | 375,094 | 15,278 | ||||
Matthews International Corp. Class A | 424,270 | 15,257 | ||||
H&E Equipment Services Inc. | 450,978 | 15,004 | ||||
* | Huron Consulting Group Inc. | 302,752 | 14,880 | |||
* | NOW Inc. | 1,565,902 | 14,860 |
Shares | Market Value ($000) | |||||
* | Viad Corp. | 297,600 | 14,835 | |||
* | Driven Brands Holdings Inc. | 466,332 | 14,419 | |||
* | TrueBlue Inc. | 511,867 | 14,389 | |||
* | Great Lakes Dredge & Dock Corp. | 963,281 | 14,074 | |||
Douglas Dynamics Inc. | 338,123 | 13,758 | ||||
* | Energy Recovery Inc. | 600,567 | 13,681 | |||
CAI International Inc. | 234,845 | 13,151 | ||||
Interface Inc. Class A | 856,272 | 13,101 | ||||
* | Parsons Corp. | 329,728 | 12,978 | |||
Marten Transport Ltd. | 782,314 | 12,900 | ||||
Heidrick & Struggles International Inc. | 280,489 | 12,496 | ||||
* | Manitowoc Co. Inc. | 501,158 | 12,278 | |||
Heartland Express Inc. | 706,968 | 12,110 | ||||
Wabash National Corp. | 753,972 | 12,064 | ||||
ACCO Brands Corp. | 1,397,834 | 12,063 | ||||
*,1 | Hydrofarm Holdings Group Inc. | 199,410 | 11,787 | |||
* | Kelly Services Inc. Class A | 488,779 | 11,716 | |||
Schneider National Inc. Class B | 535,950 | 11,668 | ||||
* | Echo Global Logistics Inc. | 378,813 | 11,645 | |||
* | Sun Country Airlines Holdings Inc. | 310,717 | 11,500 | |||
* | Cornerstone Building Brands Inc. | 611,344 | 11,114 | |||
Quanex Building Products Corp. | 446,260 | 11,085 | ||||
* | Veritiv Corp. | 178,241 | 10,948 | |||
* | Montrose Environmental Group Inc. | 203,777 | 10,935 | |||
Argan Inc. | 221,171 | 10,570 | ||||
* | SP Plus Corp. | 338,553 | 10,356 | |||
*,1 | Romeo Power Inc. | 1,257,988 | 10,240 | |||
Hyster-Yale Materials Handling Inc. | 138,369 | 10,098 | ||||
* | Sterling Construction Co. Inc. | 414,746 | 10,008 | |||
* | CIRCOR International Inc. | 297,031 | 9,683 | |||
CRA International Inc. | 110,217 | 9,435 | ||||
Insteel Industries Inc. | 286,233 | 9,202 | ||||
* | Ducommun Inc. | 159,857 | 8,722 | |||
*,1 | Eos Energy Enterprises Inc. | 482,017 | 8,657 | |||
Gorman-Rupp Co. | 247,584 | 8,527 | ||||
Genco Shipping & Trading Ltd. | 450,256 | 8,501 | ||||
*,1 | Eagle Bulk Shipping Inc. | 179,137 | 8,477 | |||
Global Industrial Co. | 230,131 | 8,448 | ||||
* | Tutor Perini Corp. | 602,231 | 8,341 | |||
* | Thermon Group Holdings Inc. | 483,229 | 8,234 | |||
* | Vectrus Inc. | 172,062 | 8,188 | |||
* | PAE Inc. | 897,285 | 7,986 | |||
* | DXP Enterprises Inc. | 239,383 | 7,971 | |||
* | MRC Global Inc. | 826,591 | 7,770 | |||
* | Forrester Research Inc. | 167,979 | 7,693 | |||
* | Titan Machinery Inc. | 247,632 | 7,662 | |||
* | Babcock & Wilcox Enterprises Inc. | 946,043 | 7,455 | |||
VSE Corp. | 150,331 | 7,443 | ||||
Ennis Inc. | 341,313 | 7,345 | ||||
Barrett Business Services Inc. | 100,661 | 7,309 | ||||
Kimball International Inc. Class B | 555,299 | 7,302 | ||||
* | BrightView Holdings Inc. | 450,610 | 7,264 | |||
*,1 | View Inc. | 851,100 | 7,217 | |||
* | BlueLinx Holdings Inc. | 139,300 | 7,004 | |||
* | Frontier Group Holdings Inc. | 399,557 | 6,808 | |||
* | ACV Auctions Inc. Class A | 263,349 | 6,750 | |||
National Presto Industries Inc. | 66,367 | 6,746 | ||||
*,1 | Blade Air Mobility Inc. | 641,000 | 6,731 | |||
* | Heritage-Crystal Clean Inc. | 225,549 | 6,694 | |||
* | RR Donnelley & Sons Co. | 1,046,134 | 6,570 | |||
Resources Connection Inc. | 452,764 | 6,502 |
Shares | Market Value ($000) | |||||
* | Titan International Inc. | 740,635 | 6,281 | |||
Omega Flex Inc. | 42,167 | 6,186 | ||||
Tecnoglass Inc. | 284,691 | 6,092 | ||||
* | American Superconductor Corp. | 350,169 | 6,089 | |||
* | Lawson Products Inc. | 113,596 | 6,079 | |||
* | Willdan Group Inc. | 161,508 | 6,079 | |||
* | Astronics Corp. | 345,138 | 6,043 | |||
REV Group Inc. | 381,943 | 5,993 | ||||
* | Daseke Inc. | 918,525 | 5,952 | |||
* | Mayville Engineering Co. Inc. | 293,651 | 5,905 | |||
* | Transcat Inc. | 102,401 | 5,787 | |||
Miller Industries Inc. | 143,265 | 5,650 | ||||
* | Blue Bird Corp. | 222,106 | 5,522 | |||
Allied Motion Technologies Inc. | 153,942 | 5,316 | ||||
* | HyreCar Inc. | 250,838 | 5,248 | |||
* | Commercial Vehicle Group Inc. | 477,687 | 5,078 | |||
*,1 | Advent Technologies Holdings Inc. | 517,503 | 4,989 | |||
* | Acacia Research Corp. | 718,306 | 4,856 | |||
* | Franklin Covey Co. | 145,539 | 4,708 | |||
*,1 | ExOne Co. | 214,270 | 4,637 | |||
* | Radiant Logistics Inc. | 668,010 | 4,629 | |||
* | Rekor Systems Inc. | 451,308 | 4,585 | |||
*,1 | AgEagle Aerial Systems Inc. | 867,580 | 4,572 | |||
*,1 | Yellow Corp. | 698,839 | 4,549 | |||
* | NN Inc. | 615,679 | 4,525 | |||
Park Aerospace Corp. | 301,534 | 4,493 | ||||
* | Northwest Pipe Co. | 156,996 | 4,435 | |||
*,1 | Beam Global | 115,358 | 4,419 | |||
* | Alta Equipment Group Inc. | 330,300 | 4,390 | |||
* | Mesa Air Group Inc. | 454,955 | 4,245 | |||
*,1 | Byrna Technologies Inc. | 185,200 | 4,208 | |||
Powell Industries Inc. | 134,130 | 4,151 | ||||
* | Matrix Service Co. | 392,929 | 4,126 | |||
Park-Ohio Holdings Corp. | 125,736 | 4,041 | ||||
Rush Enterprises Inc. Class B | 101,805 | 3,883 | ||||
*,1 | Sunworks Inc. | 354,765 | 3,729 | |||
* | FTC Solar Inc. | 272,724 | 3,630 | |||
* | HC2 Holdings Inc. | 889,681 | 3,541 | |||
* | Covenant Logistics Group Inc. Class A | 166,743 | 3,448 | |||
Hurco Cos. Inc. | 95,977 | 3,359 | ||||
LSI Industries Inc. | 399,975 | 3,204 | ||||
* | L B Foster Co. Class A | 167,811 | 3,128 | |||
* | GP Strategies Corp. | 198,873 | 3,126 | |||
* | Vidler Water Resouces Inc. | 234,949 | 3,125 | |||
*,1 | Lightning eMotors Inc. | 374,400 | 3,111 | |||
* | CECO Environmental Corp. | 430,199 | 3,080 | |||
*,1 | Aqua Metals Inc. | 995,201 | 2,986 | |||
* | Team Inc. | 442,404 | 2,964 | |||
Preformed Line Products Co. | 35,638 | 2,644 | ||||
* | Orion Group Holdings Inc. | 458,832 | 2,638 | |||
* | Mistras Group Inc. | 262,279 | 2,578 | |||
Eastern Co. | 83,819 | 2,542 | ||||
*,1 | Nuvve Holding Corp. | 179,700 | 2,483 | |||
* | US Xpress Enterprises Inc. Class A | 285,538 | 2,456 | |||
*,1 | Red Violet Inc. | 103,773 | 2,441 | |||
* | Orion Energy Systems Inc. | 414,723 | 2,376 | |||
* | Infrastructure & Energy Alternatives Inc. | 180,389 | 2,320 | |||
* | Concrete Pumping Holdings Inc. | 272,231 | 2,306 | |||
*,1 | Ault Global Holdings Inc. | 765,535 | 2,159 | |||
*,1 | Orbital Energy Group Inc. | 492,755 | 2,153 | |||
* | EVI Industries Inc. | 75,573 | 2,146 |
Shares | Market Value ($000) | |||||
*,1 | Agrify Corp. | 179,975 | 2,142 | |||
* | Quad/Graphics Inc. | 493,264 | 2,047 | |||
*,1 | Energous Corp. | 704,135 | 2,021 | |||
*,1 | Custom Truck One Source Inc. | 209,946 | 1,999 | |||
* | Ultralife Corp. | 236,379 | 1,981 | |||
* | Armstrong Flooring Inc. | 310,427 | 1,922 | |||
*,1 | Westwater Resources Inc. | 401,812 | 1,913 | |||
* | Performant Financial Corp. | 509,470 | 1,911 | |||
Graham Corp. | 137,367 | 1,890 | ||||
* | Hudson Technologies Inc. | 548,421 | 1,865 | |||
* | Twin Disc Inc. | 130,235 | 1,853 | |||
*,1 | LiqTech International Inc. | 247,491 | 1,812 | |||
* | Karat Packaging Inc. | 88,602 | 1,805 | |||
* | Willis Lease Finance Corp. | 41,490 | 1,778 | |||
* | Huttig Building Products Inc. | 301,119 | 1,740 | |||
* | USA Truck Inc. | 105,813 | 1,700 | |||
BGSF Inc. | 136,163 | 1,680 | ||||
Universal Logistics Holdings Inc. | 70,430 | 1,641 | ||||
*,1 | AerSale Corp. | 131,700 | 1,641 | |||
*,1 | Ocean Power Technologies Inc. | 655,249 | 1,638 | |||
*,1 | Alpha Pro Tech Ltd. | 187,485 | 1,607 | |||
* | PAM Transportation Services Inc. | 29,376 | 1,550 | |||
* | Hill International Inc. | 620,435 | 1,545 | |||
* | Urban-Gro Inc. | 166,000 | 1,522 | |||
* | Atlas Technical Consultants Inc. Class A | 152,021 | 1,472 | |||
* | Manitex International Inc. | 197,034 | 1,436 | |||
* | Williams Industrial Services Group Inc. | 246,037 | 1,434 | |||
* | Gencor Industries Inc. | 115,798 | 1,408 | |||
Acme United Corp. | 31,209 | 1,391 | ||||
ARC Document Solutions Inc. | 549,008 | 1,180 | ||||
* | DLH Holdings Corp. | 98,735 | 1,153 | |||
*,1 | Flux Power Holdings Inc. | 96,866 | 1,127 | |||
* | Broadwind Inc. | 243,621 | 1,104 | |||
* | FreightCar America Inc. | 184,790 | 1,096 | |||
* | Capstone Green Energy Corp. | 194,062 | 1,091 | |||
*,1 | India Globalization Capital Inc. | 629,022 | 1,032 | |||
* | Limbach Holdings Inc. | 109,900 | 1,018 | |||
*,1 | iSun Inc. | 87,677 | 998 | |||
*,1 | Ideal Power Inc. | 78,314 | 995 | |||
*,1 | First Advantage Corp. | 47,144 | 939 | |||
* | VirTra Inc. | 126,051 | 929 | |||
*,1 | SG Blocks Inc. | 166,382 | 915 | |||
* | Quest Resource Holding Corp. | 142,638 | 906 | |||
* | GEE Group Inc. | 1,544,230 | 885 | |||
NL Industries Inc. | 135,025 | 878 | ||||
Pangaea Logistics Solutions Ltd. | 174,862 | 878 | ||||
*,1 | Akerna Corp. | 205,869 | 830 | |||
*,1 | Fuel Tech Inc. | 349,173 | 821 | |||
* | Charah Solutions Inc. | 156,362 | 790 | |||
* | Document Security Systems Inc. | 434,721 | 778 | |||
* | Volt Information Sciences Inc. | 164,768 | 753 | |||
*,1 | Polar Power Inc. | 80,021 | 750 | |||
Innovative Solutions & Support Inc. | 118,837 | 745 | ||||
* | Perma-Fix Environmental Services Inc. | 100,598 | 719 | |||
* | Mastech Digital Inc. | 46,402 | 694 | |||
HireQuest Inc. | 36,700 | 679 | ||||
* | AMREP Corp. | 56,720 | 661 | |||
* | SIFCO Industries Inc. | 59,912 | 603 | |||
* | Air Industries Group | 455,019 | 592 | |||
* | Legalzoom.com Inc. | 15,424 | 584 | |||
* | CPI Aerostructures Inc. | 161,170 | 572 |
Shares | Market Value ($000) | |||||
* | RCM Technologies Inc. | 133,985 | 552 | |||
*,1 | Odyssey Marine Exploration Inc. | 86,024 | 547 | |||
* | Virco Manufacturing Corp. | 153,003 | 522 | |||
*,1 | Sigma Labs Inc. | 131,130 | 511 | |||
* | Perma-Pipe International Holdings Inc. | 72,762 | 485 | |||
* | Jewett-Cameron Trading Co. Ltd. | 44,770 | 435 | |||
* | Taylor Devices Inc. | 36,345 | 427 | |||
* | Air T Inc. | 17,189 | 426 | |||
* | LS Starrett Co. Class A | 44,550 | 416 | |||
* | Astrotech Corp. | 298,659 | 397 | |||
* | Applied UV Inc. | 39,709 | 390 | |||
*,1 | BioHiTech Global Inc. | 241,627 | 350 | |||
*,1 | ShiftPixy Inc. | 142,974 | 337 | |||
* | Hudson Global Inc. | 18,306 | 321 | |||
*,1 | JanOne Inc. | 39,400 | 307 | |||
*,1 | Energy Focus Inc. | 72,978 | 290 | |||
* | Wilhelmina International Inc. | 54,036 | 270 | |||
* | TOMI Environmental Solutions Inc. | 82,446 | 237 | |||
* | Gaucho Group Holdings Inc. | 45,132 | 232 | |||
1 | Pioneer Power Solutions Inc. | 44,120 | 206 | |||
* | Servotronics Inc. | 19,402 | 166 | |||
Patriot Transportation Holding Inc. | 14,470 | 163 | ||||
*,1 | Staffing 360 Solutions Inc. | 248,125 | 143 | |||
* | Xometry Inc. Class A | 1,551 | 136 | |||
*,1,2 | FTE Networks Inc. | 82,837 | 124 | |||
Espey Manufacturing & Electronics Corp. | 7,053 | 105 | ||||
Chicago Rivet & Machine Co. | 2,905 | 75 | ||||
* | Avalon Holdings Corp. Class A | 15,976 | 75 | |||
* | P&F Industries Inc. Class A | 9,628 | 65 | |||
CompX International Inc. | 2,808 | 58 | ||||
*,1,2 | Proteostasis Therapeutics Inc. CVR | 507,408 | 55 | |||
* | Art's-Way Manufacturing Co. Inc. | 4,243 | 14 | |||
* | Air T Funding Warrants Exp. 08/30/2021 | 36,997 | 5 | |||
*,2 | Recycling Asset Holdings Inc. | 43,054 | 5 | |||
15,190,763 | ||||||
Information Technology (22.03%) | ||||||
* | Square Inc. Class A | 5,580,220 | 1,360,458 | |||
* | Zoom Video Communications Inc. Class A | 3,033,193 | 1,173,937 | |||
* | Twilio Inc. Class A | 2,108,302 | 831,008 | |||
* | DocuSign Inc. | 2,767,415 | 773,686 | |||
* | Crowdstrike Holdings Inc. Class A | 2,835,643 | 712,625 | |||
Marvell Technology Inc. | 11,594,622 | 676,314 | ||||
* | Workday Inc. Class A | 2,538,399 | 606,017 | |||
* | Palo Alto Networks Inc. | 1,378,069 | 511,332 | |||
* | Trade Desk Inc. Class A | 6,131,278 | 474,316 | |||
* | Okta Inc. Class A | 1,772,639 | 433,729 | |||
* | EPAM Systems Inc. | 796,569 | 407,015 | |||
* | HubSpot Inc. | 623,711 | 363,449 | |||
* | Dell Technologies Inc. Class C | 3,519,886 | 350,827 | |||
* | Slack Technologies Inc. Class A | 7,263,525 | 321,774 | |||
* | Datadog Inc. Class A | 3,090,099 | 321,617 | |||
* | RingCentral Inc. Class A | 1,096,700 | 318,679 | |||
* | Splunk Inc. | 2,102,816 | 304,025 | |||
* | Cloudflare Inc. Class A | 2,732,784 | 289,238 | |||
* | MongoDB Inc. Class A | 757,873 | 273,986 | |||
* | Coupa Software Inc. | 1,042,634 | 273,285 | |||
* | Zendesk Inc. | 1,686,131 | 243,376 | |||
Entegris Inc. | 1,912,626 | 235,196 | ||||
* | ON Semiconductor Corp. | 6,098,209 | 233,439 | |||
* | Zscaler Inc. | 1,055,106 | 227,966 | |||
SS&C Technologies Holdings Inc. | 3,150,430 | 227,020 |
Shares | Market Value ($000) | |||||
* | Nuance Communications Inc. | 4,061,401 | 221,103 | |||
* | Snowflake Inc. Class A | 881,783 | 213,215 | |||
Cognex Corp. | 2,501,163 | 210,223 | ||||
* | GoDaddy Inc. Class A | 2,374,523 | 206,489 | |||
* | Fair Isaac Corp. | 407,961 | 205,074 | |||
* | SolarEdge Technologies Inc. | 736,723 | 203,608 | |||
* | Avalara Inc. | 1,220,497 | 197,476 | |||
*,1 | VMware Inc. Class A | 1,140,702 | 182,478 | |||
* | Ceridian HCM Holding Inc. | 1,862,623 | 178,663 | |||
* | Five9 Inc. | 954,674 | 175,078 | |||
* | Black Knight Inc. | 2,222,862 | 173,339 | |||
* | Palantir Technologies Inc. Class A | 6,422,630 | 169,301 | |||
* | Bill.com Holdings Inc. | 887,973 | 162,659 | |||
* | Cree Inc. | 1,631,470 | 159,770 | |||
* | Dynatrace Inc. | 2,616,879 | 152,878 | |||
* | Proofpoint Inc. | 819,166 | 142,338 | |||
MKS Instruments Inc. | 781,671 | 139,098 | ||||
Universal Display Corp. | 606,494 | 134,842 | ||||
* | Guidewire Software Inc. | 1,188,067 | 133,919 | |||
* | Aspen Technology Inc. | 963,229 | 132,483 | |||
* | Elastic NV | 901,093 | 131,343 | |||
* | Manhattan Associates Inc. | 898,071 | 130,077 | |||
* | Dropbox Inc. Class A | 4,222,413 | 127,981 | |||
* | Ciena Corp. | 2,197,011 | 124,988 | |||
* | WEX Inc. | 634,221 | 122,975 | |||
* | Smartsheet Inc. Class A | 1,667,268 | 120,577 | |||
* | Arrow Electronics Inc. | 1,051,343 | 119,674 | |||
Genpact Ltd. | 2,477,641 | 112,559 | ||||
* | Nutanix Inc. Class A | 2,907,565 | 111,127 | |||
Jabil Inc. | 1,900,770 | 110,473 | ||||
* | Anaplan Inc. | 2,061,635 | 109,885 | |||
* | First Solar Inc. | 1,200,671 | 108,673 | |||
* | Lattice Semiconductor Corp. | 1,928,715 | 108,355 | |||
* | II-VI Inc. | 1,479,865 | 107,423 | |||
* | Paylocity Holding Corp. | 532,819 | 101,662 | |||
* | Euronet Worldwide Inc. | 742,827 | 100,542 | |||
Brooks Automation Inc. | 1,050,134 | 100,057 | ||||
* | Silicon Laboratories Inc. | 628,209 | 96,273 | |||
* | Concentrix Corp. | 588,774 | 94,675 | |||
* | Coherent Inc. | 348,075 | 92,010 | |||
Dolby Laboratories Inc. Class A | 923,825 | 90,803 | ||||
Littelfuse Inc. | 347,432 | 88,522 | ||||
* | Lumentum Holdings Inc. | 1,072,316 | 87,962 | |||
* | Varonis Systems Inc. Class B | 1,501,121 | 86,495 | |||
CDK Global Inc. | 1,723,308 | 85,631 | ||||
* | NCR Corp. | 1,845,621 | 84,179 | |||
* | Digital Turbine Inc. | 1,098,996 | 83,557 | |||
* | J2 Global Inc. | 598,900 | 82,379 | |||
* | Blackline Inc. | 728,695 | 81,082 | |||
National Instruments Corp. | 1,868,964 | 79,020 | ||||
Pegasystems Inc. | 563,715 | 78,463 | ||||
Vontier Corp. | 2,401,521 | 78,242 | ||||
* | Synaptics Inc. | 500,080 | 77,802 | |||
* | Teradata Corp. | 1,554,466 | 77,677 | |||
* | Q2 Holdings Inc. | 752,655 | 77,207 | |||
* | Appian Corp. | 553,140 | 76,195 | |||
Maximus Inc. | 863,257 | 75,941 | ||||
*,1 | Fastly Inc. Class A | 1,234,332 | 73,566 | |||
* | Rapid7 Inc. | 776,021 | 73,435 | |||
Alliance Data Systems Corp. | 703,209 | 73,267 | ||||
*,1 | MicroStrategy Inc. Class A | 109,716 | 72,906 |
Shares | Market Value ($000) | |||||
* | Everbridge Inc. | 535,528 | 72,875 | |||
* | Alteryx Inc. Class A | 838,528 | 72,130 | |||
SYNNEX Corp. | 587,540 | 71,539 | ||||
Power Integrations Inc. | 862,241 | 70,755 | ||||
* | 3D Systems Corp. | 1,757,512 | 70,248 | |||
* | Pure Storage Inc. Class A | 3,576,204 | 69,843 | |||
* | Cirrus Logic Inc. | 810,362 | 68,978 | |||
* | FireEye Inc. | 3,409,511 | 68,940 | |||
* | Sailpoint Technologies Holdings Inc. | 1,310,969 | 66,951 | |||
* | Novanta Inc. | 496,712 | 66,937 | |||
* | Workiva Inc. Class A | 598,870 | 66,672 | |||
* | Itron Inc. | 637,146 | 63,702 | |||
* | Semtech Corp. | 923,883 | 63,563 | |||
* | ACI Worldwide Inc. | 1,676,581 | 62,268 | |||
CMC Materials Inc. | 409,246 | 61,690 | ||||
* | CommScope Holding Co. Inc. | 2,851,848 | 60,773 | |||
Advanced Energy Industries Inc. | 535,181 | 60,320 | ||||
* | Envestnet Inc. | 775,758 | 58,849 | |||
* | Viavi Solutions Inc. | 3,252,791 | 57,444 | |||
* | LivePerson Inc. | 903,391 | 57,130 | |||
* | Cerence Inc. | 529,347 | 56,487 | |||
* | Sabre Corp. | 4,503,316 | 56,201 | |||
Avnet Inc. | 1,379,443 | 55,288 | ||||
* | Alarm.com Holdings Inc. | 641,700 | 54,352 | |||
* | Ambarella Inc. | 504,224 | 53,765 | |||
Kulicke & Soffa Industries Inc. | 873,441 | 53,455 | ||||
Xerox Holdings Corp. | 2,272,795 | 53,388 | ||||
* | Blackbaud Inc. | 691,463 | 52,945 | |||
*,1 | Box Inc. Class A | 2,071,528 | 52,928 | |||
* | Rogers Corp. | 260,249 | 52,258 | |||
* | Shift4 Payments Inc. Class A | 548,751 | 51,429 | |||
* | CommVault Systems Inc. | 655,006 | 51,202 | |||
* | New Relic Inc. | 764,406 | 51,192 | |||
* | Onto Innovation Inc. | 698,439 | 51,014 | |||
* | SPS Commerce Inc. | 510,252 | 50,949 | |||
* | ExlService Holdings Inc. | 477,124 | 50,699 | |||
* | Cloudera Inc. | 3,192,653 | 50,635 | |||
* | Fabrinet | 526,653 | 50,490 | |||
* | Insight Enterprises Inc. | 501,426 | 50,148 | |||
* | Vonage Holdings Corp. | 3,356,912 | 48,373 | |||
* | Diodes Inc. | 599,459 | 47,819 | |||
*,1 | Affirm Holdings Inc. Class A | 709,977 | 47,817 | |||
* | Viasat Inc. | 954,986 | 47,596 | |||
* | Qualys Inc. | 468,906 | 47,214 | |||
* | Cornerstone OnDemand Inc. | 881,123 | 45,448 | |||
*,1 | Riot Blockchain Inc. | 1,196,841 | 45,085 | |||
* | LiveRamp Holdings Inc. | 958,485 | 44,905 | |||
* | Mimecast Ltd. | 840,927 | 44,611 | |||
* | Altair Engineering Inc. Class A | 644,352 | 44,441 | |||
* | 8x8 Inc. | 1,545,398 | 42,900 | |||
Vishay Intertechnology Inc. | 1,886,261 | 42,535 | ||||
* | MACOM Technology Solutions Holdings Inc. | 661,492 | 42,388 | |||
* | MaxLinear Inc. Class A | 973,733 | 41,374 | |||
* | Medallia Inc. | 1,214,297 | 40,983 | |||
*,1 | Marathon Digital Holdings Inc. | 1,305,031 | 40,939 | |||
* | Verint Systems Inc. | 907,758 | 40,913 | |||
* | FormFactor Inc. | 1,109,594 | 40,456 | |||
* | Tenable Holdings Inc. | 970,309 | 40,122 | |||
Badger Meter Inc. | 403,947 | 39,635 | ||||
* | Calix Inc. | 804,161 | 38,198 | |||
* | Perficient Inc. | 470,068 | 37,803 |
Shares | Market Value ($000) | |||||
* | Rambus Inc. | 1,590,045 | 37,700 | |||
EVERTEC Inc. | 857,013 | 37,409 | ||||
*,1 | MicroVision Inc. | 2,231,468 | 37,377 | |||
* | Momentive Global Inc. | 1,738,125 | 36,622 | |||
* | Plexus Corp. | 399,879 | 36,553 | |||
Amkor Technology Inc. | 1,538,611 | 36,419 | ||||
* | Sanmina Corp. | 929,070 | 36,197 | |||
* | Sprout Social Inc. Class A | 400,548 | 35,817 | |||
* | Appfolio Inc. Class A | 250,362 | 35,351 | |||
* | PagerDuty Inc. | 822,051 | 35,003 | |||
* | SunPower Corp. | 1,150,991 | 33,632 | |||
Xperi Holding Corp. | 1,508,368 | 33,546 | ||||
Ubiquiti Inc. | 104,183 | 32,525 | ||||
* | Domo Inc. Class B | 402,159 | 32,507 | |||
Belden Inc. | 641,127 | 32,422 | ||||
* | Ultra Clean Holdings Inc. | 602,596 | 32,371 | |||
* | Qualtrics International Inc. Class A | 818,423 | 31,305 | |||
InterDigital Inc. | 423,640 | 30,938 | ||||
* | Sykes Enterprises Inc. | 564,113 | 30,293 | |||
* | Verra Mobility Corp. Class A | 1,940,258 | 29,822 | |||
* | Infinera Corp. | 2,920,259 | 29,787 | |||
* | NetScout Systems Inc. | 1,035,981 | 29,567 | |||
* | Avaya Holdings Corp. | 1,080,468 | 29,065 | |||
Progress Software Corp. | 603,526 | 27,913 | ||||
* | AppLovin Corp. Class A | 366,905 | 27,580 | |||
TTEC Holdings Inc. | 260,179 | 26,822 | ||||
Switch Inc. Class A | 1,268,569 | 26,779 | ||||
* | Repay Holdings Corp. Class A | 1,088,760 | 26,174 | |||
* | PROS Holdings Inc. | 574,017 | 26,158 | |||
Methode Electronics Inc. | 528,239 | 25,995 | ||||
* | Knowles Corp. | 1,309,674 | 25,853 | |||
* | Zuora Inc. Class A | 1,478,292 | 25,501 | |||
* | Cohu Inc. | 678,924 | 24,978 | |||
* | OSI Systems Inc. | 240,919 | 24,487 | |||
* | Unisys Corp. | 963,495 | 24,386 | |||
* | Asana Inc. Class A | 382,727 | 23,741 | |||
* | PAR Technology Corp. | 336,914 | 23,564 | |||
* | Avid Technology Inc. | 599,583 | 23,474 | |||
* | SiTime Corp. | 179,699 | 22,748 | |||
* | Plantronics Inc. | 541,261 | 22,587 | |||
CSG Systems International Inc. | 469,480 | 22,150 | ||||
* | Ichor Holdings Ltd. | 403,495 | 21,708 | |||
* | Duck Creek Technologies Inc. | 482,312 | 20,985 | |||
*,1 | E2open Parent Holdings Inc. | 1,825,593 | 20,848 | |||
* | Super Micro Computer Inc. | 590,255 | 20,765 | |||
* | Bottomline Technologies DE Inc. | 556,494 | 20,635 | |||
* | FARO Technologies Inc. | 263,521 | 20,494 | |||
* | TTM Technologies Inc. | 1,397,647 | 19,986 | |||
* | Yext Inc. | 1,397,553 | 19,971 | |||
* | Extreme Networks Inc. | 1,778,880 | 19,852 | |||
* | nLight Inc. | 542,169 | 19,670 | |||
* | Axcelis Technologies Inc. | 482,990 | 19,522 | |||
* | Conduent Inc. | 2,466,200 | 18,496 | |||
* | Evo Payments Inc. Class A | 657,718 | 18,245 | |||
* | SolarWinds Corp. | 1,056,234 | 17,840 | |||
* | Jamf Holding Corp. | 516,995 | 17,356 | |||
* | Veeco Instruments Inc. | 712,697 | 17,133 | |||
* | Allegro MicroSystems Inc. | 605,494 | 16,772 | |||
* | Agilysys Inc. | 294,358 | 16,740 | |||
CTS Corp. | 440,504 | 16,369 | ||||
* | Impinj Inc. | 316,796 | 16,343 |
Shares | Market Value ($000) | |||||
* | ePlus Inc. | 182,929 | 15,858 | |||
* | NETGEAR Inc. | 410,225 | 15,720 | |||
* | CEVA Inc. | 326,056 | 15,422 | |||
* | Upland Software Inc. | 372,835 | 15,350 | |||
QAD Inc. Class A | 176,030 | 15,318 | ||||
* | Model N Inc. | 443,848 | 15,211 | |||
* | ACM Research Inc. Class A | 147,975 | 15,126 | |||
* | C3.ai Inc. Class A | 237,926 | 14,878 | |||
Benchmark Electronics Inc. | 520,796 | 14,822 | ||||
McAfee Corp. Class A | 522,978 | 14,654 | ||||
ADTRAN Inc. | 696,863 | 14,390 | ||||
* | EchoStar Corp. Class A | 591,294 | 14,363 | |||
* | Diebold Nixdorf Inc. | 1,107,087 | 14,215 | |||
*,1 | Aeva Technologies Inc. | 1,294,466 | 13,682 | |||
* | DigitalOcean Holdings Inc. | 238,980 | 13,285 | |||
* | Ribbon Communications Inc. | 1,731,778 | 13,179 | |||
* | OneSpan Inc. | 492,765 | 12,585 | |||
* | Harmonic Inc. | 1,465,255 | 12,484 | |||
* | Mitek Systems Inc. | 630,141 | 12,137 | |||
* | Telos Corp. | 353,401 | 12,019 | |||
* | Ping Identity Holding Corp. | 523,610 | 11,991 | |||
* | Photronics Inc. | 905,230 | 11,958 | |||
* | Tucows Inc. Class A | 142,365 | 11,435 | |||
Ebix Inc. | 336,117 | 11,394 | ||||
* | BTRS Holdings Inc. | 887,945 | 11,206 | |||
*,1 | Ouster Inc. | 889,919 | 11,115 | |||
* | Olo Inc. Class A | 292,681 | 10,943 | |||
* | BigCommerce Holdings Inc. | 166,297 | 10,796 | |||
* | ChannelAdvisor Corp. | 428,427 | 10,501 | |||
* | ScanSource Inc. | 368,394 | 10,363 | |||
*,1 | Corsair Gaming Inc. | 302,544 | 10,072 | |||
American Software Inc. Class A | 452,136 | 9,929 | ||||
* | MoneyGram International Inc. | 975,963 | 9,838 | |||
* | Rackspace Technology Inc. | 501,265 | 9,830 | |||
* | Digi International Inc. | 482,627 | 9,706 | |||
* | A10 Networks Inc. | 860,727 | 9,692 | |||
*,1 | Inseego Corp. | 950,524 | 9,591 | |||
* | Cantaloupe Inc. | 794,540 | 9,423 | |||
* | I3 Verticals Inc. Class A | 307,205 | 9,284 | |||
* | Datto Holding Corp. | 331,341 | 9,225 | |||
Comtech Telecommunications Corp. | 381,601 | 9,219 | ||||
* | Alpha & Omega Semiconductor Ltd. | 297,919 | 9,054 | |||
*,1 | Paya Holdings Inc. Class A | 789,697 | 8,702 | |||
*,1 | Velodyne Lidar Inc. | 807,405 | 8,591 | |||
*,1 | Kopin Corp. | 1,036,092 | 8,475 | |||
* | Brightcove Inc. | 581,480 | 8,344 | |||
* | SMART Global Holdings Inc. | 173,426 | 8,269 | |||
* | Kimball Electronics Inc. | 371,809 | 8,083 | |||
* | Vertex Inc. Class A | 368,042 | 8,075 | |||
* | Arlo Technologies Inc. | 1,187,461 | 8,039 | |||
PC Connection Inc. | 166,529 | 7,705 | ||||
*,1 | Cleanspark Inc. | 462,887 | 7,702 | |||
* | PDF Solutions Inc. | 421,057 | 7,655 | |||
* | NeoPhotonics Corp. | 743,244 | 7,589 | |||
*,1 | Eastman Kodak Co. | 898,570 | 7,476 | |||
* | Veritone Inc. | 378,948 | 7,469 | |||
Cass Information Systems Inc. | 174,393 | 7,107 | ||||
* | Turtle Beach Corp. | 222,362 | 7,098 | |||
Hackett Group Inc. | 393,421 | 7,089 | ||||
*,1 | Digimarc Corp. | 200,390 | 6,713 | |||
*,1 | Akoustis Technologies Inc. | 622,827 | 6,670 |
Shares | Market Value ($000) | |||||
* | Napco Security Technologies Inc. | 177,192 | 6,444 | |||
* | CalAmp Corp. | 504,519 | 6,417 | |||
* | Zix Corp. | 879,933 | 6,204 | |||
* | AXT Inc. | 557,791 | 6,125 | |||
* | Benefitfocus Inc. | 431,222 | 6,080 | |||
* | Clearfield Inc. | 160,136 | 5,997 | |||
* | International Money Express Inc. | 401,314 | 5,960 | |||
*,1 | Atomera Inc. | 272,121 | 5,834 | |||
* | Limelight Networks Inc. | 1,833,121 | 5,774 | |||
* | ShotSpotter Inc. | 117,689 | 5,740 | |||
* | Vishay Precision Group Inc. | 163,112 | 5,552 | |||
* | Quantum Corp. | 803,084 | 5,533 | |||
* | Grid Dynamics Holdings Inc. | 343,847 | 5,168 | |||
NVE Corp. | 68,972 | 5,107 | ||||
* | Identiv Inc. | 290,921 | 4,946 | |||
* | KnowBe4 Inc. Class A | 155,799 | 4,872 | |||
* | DSP Group Inc. | 328,763 | 4,866 | |||
* | Luna Innovations Inc. | 429,312 | 4,649 | |||
* | GTY Technology Holdings Inc. | 652,705 | 4,641 | |||
* | CyberOptics Corp. | 111,668 | 4,574 | |||
* | Sumo Logic Inc. | 217,377 | 4,489 | |||
* | Aviat Networks Inc. | 134,805 | 4,418 | |||
* | DZS Inc. | 211,987 | 4,399 | |||
* | Casa Systems Inc. | 490,169 | 4,348 | |||
* | Viant Technology Inc. Class A | 144,812 | 4,312 | |||
* | ON24 Inc. | 119,368 | 4,235 | |||
* | EMCORE Corp. | 448,875 | 4,139 | |||
* | GreenSky Inc. Class A | 725,344 | 4,026 | |||
* | Iteris Inc. | 598,384 | 3,979 | |||
*,1 | VirnetX Holding Corp. | 909,363 | 3,883 | |||
* | Powerfleet Inc. | 538,599 | 3,878 | |||
* | Daktronics Inc. | 578,920 | 3,815 | |||
* | Cambium Networks Corp. | 77,093 | 3,727 | |||
*,1 | MICT Inc. | 1,539,373 | 3,602 | |||
* | eGain Corp. | 313,314 | 3,597 | |||
*,1 | 908 Devices Inc. | 92,602 | 3,588 | |||
*,1 | SEMrush Holdings Inc. Class A | 146,131 | 3,364 | |||
* | Rimini Street Inc. | 523,406 | 3,224 | |||
* | Intelligent Systems Corp. | 101,109 | 3,181 | |||
*,1 | eMagin Corp. | 905,974 | 3,153 | |||
* | Airgain Inc. | 152,868 | 3,152 | |||
*,1 | Intrusion Inc. | 201,239 | 3,101 | |||
* | Genasys Inc. | 542,457 | 2,973 | |||
*,1 | Applied Optoelectronics Inc. | 350,479 | 2,969 | |||
* | Smith Micro Software Inc. | 559,391 | 2,920 | |||
*,1 | GreenBox POS | 239,500 | 2,857 | |||
Information Services Group Inc. | 486,337 | 2,845 | ||||
* | SharpSpring Inc. | 167,057 | 2,822 | |||
* | SkyWater Technology Inc. | 97,252 | 2,786 | |||
* | KVH Industries Inc. | 221,785 | 2,728 | |||
* | SecureWorks Corp. Class A | 137,212 | 2,543 | |||
*,1 | Wrap Technologies Inc. | 321,498 | 2,524 | |||
*,1 | UiPath Inc. Class A | 36,869 | 2,504 | |||
* | inTEST Corp. | 148,977 | 2,498 | |||
Bel Fuse Inc. Class B | 170,427 | 2,454 | ||||
* | Immersion Corp. | 262,908 | 2,306 | |||
* | Intevac Inc. | 335,972 | 2,264 | |||
* | Pixelworks Inc. | 645,535 | 2,201 | |||
*,1 | Inpixon | 1,875,723 | 2,195 | |||
*,1 | Resonant Inc. | 682,895 | 2,192 | |||
*,1 | ClearSign Technologies Corp. | 450,444 | 2,162 |
Shares | Market Value ($000) | |||||
* | Synchronoss Technologies Inc. | 583,936 | 2,096 | |||
* | Innodata Inc. | 297,534 | 2,083 | |||
* | Ondas Holdings Inc. | 257,600 | 2,045 | |||
* | Intellicheck Inc. | 243,410 | 2,037 | |||
*,1 | BM Technologies Inc. (XASE) | 163,400 | 2,033 | |||
*,1 | Vislink Technologies Inc. | 707,832 | 2,017 | |||
* | Asure Software Inc. | 219,744 | 1,949 | |||
* | PCTEL Inc. | 276,829 | 1,813 | |||
* | Computer Task Group Inc. | 187,341 | 1,812 | |||
* | IEC Electronics Corp. | 172,190 | 1,810 | |||
* | Amtech Systems Inc. | 182,225 | 1,757 | |||
* | ServiceSource International Inc. | 1,208,512 | 1,704 | |||
* | TransAct Technologies Inc. | 118,987 | 1,634 | |||
*,1 | Boxlight Corp. Class A | 665,240 | 1,603 | |||
* | PFSweb Inc. | 204,650 | 1,510 | |||
* | Franklin Wireless Corp. | 163,414 | 1,498 | |||
* | Usio Inc. | 231,552 | 1,482 | |||
*,1 | Marin Software Inc. | 137,030 | 1,470 | |||
* | Paysign Inc. | 462,224 | 1,470 | |||
*,1 | Verb Technology Co. Inc. | 673,664 | 1,381 | |||
*,1 | Inuvo Inc. | 1,416,973 | 1,368 | |||
*,1 | Phunware Inc. | 982,326 | 1,365 | |||
* | Lantronix Inc. | 257,789 | 1,330 | |||
*,1 | AudioEye Inc. | 78,351 | 1,316 | |||
Richardson Electronics Ltd. | 158,275 | 1,315 | ||||
* | Mechanical Technology Inc. | 171,367 | 1,285 | |||
* | Everspin Technologies Inc. | 195,210 | 1,255 | |||
* | SRAX Inc. Class A | 230,219 | 1,252 | |||
*,1 | ComSovereign Holding Corp. | 536,900 | 1,246 | |||
* | GSI Technology Inc. | 220,551 | 1,239 | |||
* | CPS Technologies Corp. | 127,379 | 1,224 | |||
*,1 | Exela Technologies Inc. | 493,228 | 1,179 | |||
* | StarTek Inc. | 161,812 | 1,154 | |||
*,1 | QuickLogic Corp. | 158,547 | 1,146 | |||
* | AstroNova Inc. | 81,755 | 1,138 | |||
*,1 | GTT Communications Inc. | 455,031 | 1,106 | |||
* | Park City Group Inc. | 194,170 | 1,070 | |||
* | Steel Connect Inc. | 529,960 | 1,060 | |||
*,1 | Digital Ally Inc. | 570,960 | 1,028 | |||
* | Key Tronic Corp. | 153,764 | 1,003 | |||
*,1 | One Stop Systems Inc. | 168,878 | 978 | |||
* | Wireless Telecom Group Inc. | 233,098 | 949 | |||
*,1 | Net Element Inc. | 72,997 | 943 | |||
* | LightPath Technologies Inc. Class A | 371,011 | 942 | |||
* | Issuer Direct Corp. | 34,425 | 934 | |||
* | RealNetworks Inc. | 390,673 | 910 | |||
*,1 | BSQUARE Corp. | 190,526 | 909 | |||
* | Data I/O Corp. | 131,998 | 899 | |||
* | NetSol Technologies Inc. | 189,041 | 890 | |||
* | Frequency Electronics Inc. | 90,022 | 882 | |||
* | Alfi Inc. | 59,800 | 880 | |||
* | Communications Systems Inc. | 121,692 | 874 | |||
*,1 | Research Frontiers Inc. | 363,229 | 861 | |||
* | Marqeta Inc. Class A | 30,590 | 859 | |||
* | Aehr Test Systems | 303,162 | 837 | |||
* | WidePoint Corp. | 113,042 | 821 | |||
*,4 | BM Technologies Inc. (Acquired 12/17/20, Cost $961) | 66,937 | 749 | |||
Wayside Technology Group Inc. | 28,454 | 712 | ||||
*,1 | SeaChange International Inc. | 549,030 | 708 | |||
* | TaskUS Inc. Class A | 19,907 | 682 | |||
* | Aware Inc. | 183,320 | 680 |
Shares | Market Value ($000) | |||||
* | RF Industries Ltd. | 90,386 | 674 | |||
* | LGL Group Inc. | 63,393 | 660 | |||
* | SentinelOne Inc. Class A | 15,424 | 656 | |||
* | CSP Inc. | 58,291 | 624 | |||
* | Clear Secure Inc. Class A | 15,428 | 617 | |||
*,1 | Sprinklr Inc. Class A | 27,502 | 566 | |||
* | Qumu Corp. | 193,733 | 558 | |||
*,1 | MoSys Inc. | 88,143 | 553 | |||
*,1 | Summit Wireless Technologies Inc. | 137,470 | 551 | |||
* | TESSCO Technologies Inc. | 83,660 | 514 | |||
*,1 | NXT-ID Inc. | 573,533 | 510 | |||
Image Sensing Systems Inc. | 70,723 | 481 | ||||
* | GSE Systems Inc. | 256,492 | 459 | |||
*,1 | Bio-key International Inc. | 119,034 | 452 | |||
*,1 | VerifyMe Inc. | 105,348 | 445 | |||
*,1 | Neonode Inc. | 70,627 | 436 | |||
*,1 | Sonim Technologies Inc. | 779,142 | 435 | |||
SilverSun Technologies Inc. | 34,810 | 424 | ||||
*,1 | Coda Octopus Group Inc. | 45,539 | 396 | |||
*,1 | Oblong Inc. | 116,112 | 395 | |||
* | Optical Cable Corp. | 101,490 | 388 | |||
* | Intapp Inc. | 13,714 | 384 | |||
*,1 | Socket Mobile Inc. | 60,356 | 371 | |||
*,1 | Universal Security Instruments Inc. | 42,010 | 353 | |||
* | Cemtrex Inc. | 221,797 | 335 | |||
* | Research Solutions Inc. | 116,571 | 333 | |||
* | Integral Ad Science Holding Corp. | 15,426 | 317 | |||
* | ClearOne Inc. | 114,463 | 314 | |||
* | CVD Equipment Corp. | 68,981 | 310 | |||
Network-1 Technologies Inc. | 93,241 | 304 | ||||
*,1 | Bridgeline Digital Inc. | 70,744 | 304 | |||
*,1 | Kaspien Holdings Inc. | 12,368 | 301 | |||
* | Zeta Global Holdings Corp. Class A | 35,045 | 294 | |||
* | Confluent Inc. Class A | 6,177 | 293 | |||
* | DoubleVerify Holdings Inc. | 6,396 | 271 | |||
* | Electro-Sensors Inc. | 53,093 | 260 | |||
* | Evolving Systems Inc. | 93,207 | 227 | |||
* | TSR Inc. | 23,470 | 225 | |||
* | ALJ Regional Holdings Inc. | 107,333 | 194 | |||
* | Trio-Tech International | 37,942 | 191 | |||
*,1 | American Virtual Cloud Technologies Inc. | 29,939 | 180 | |||
* | SigmaTron International Inc. | 29,937 | 150 | |||
* | Flywire Corp. | 4,022 | 148 | |||
* | Priority Technology Holdings Inc. | 19,186 | 147 | |||
* | Schmitt Industries Inc. | 25,776 | 142 | |||
BK Technologies Corp. | 44,217 | 139 | ||||
* | Paymentus Holdings Inc. Class A | 3,230 | 115 | |||
* | Crexendo Inc. | 18,695 | 114 | |||
* | ADDvantage Technologies Group Inc. | 40,013 | 106 | |||
* | Red Cat Holdings Inc. | 38,709 | 101 | |||
Bel Fuse Inc. Class A | 6,700 | 96 | ||||
* | Duos Technologies Group Inc. | 8,483 | 87 | |||
* | Nortech Systems Inc. | 9,269 | 74 | |||
* | OLB Group Inc. | 11,665 | 64 | |||
* | Procore Technologies Inc. | 648 | 62 | |||
* | Alkami Technology Inc. | 1,593 | 57 | |||
* | Blonder Tongue Laboratories Inc. | 16,400 | 22 | |||
*,1,2 | SRAX Inc. Rights | 74,416 | 13 | |||
* | Support.com Inc. | 3,100 | 12 | |||
* | Rubicon Technology Inc. | 561 | 5 | |||
25,215,184 |
Shares | Market Value ($000) | |||||
Materials (3.68%) | ||||||
Crown Holdings Inc. | 1,903,809 | 194,588 | ||||
Steel Dynamics Inc. | 2,840,992 | 169,323 | ||||
RPM International Inc. | 1,833,225 | 162,570 | ||||
*,1 | Cleveland-Cliffs Inc. | 6,460,076 | 139,279 | |||
Reliance Steel & Aluminum Co. | 902,088 | 136,125 | ||||
AptarGroup Inc. | 927,038 | 130,564 | ||||
* | Berry Global Group Inc. | 1,898,117 | 123,795 | |||
Scotts Miracle-Gro Co. | 574,015 | 110,165 | ||||
Royal Gold Inc. | 925,413 | 105,590 | ||||
Sonoco Products Co. | 1,415,265 | 94,681 | ||||
Olin Corp. | 2,031,959 | 93,998 | ||||
United States Steel Corp. | 3,828,907 | 91,894 | ||||
* | Alcoa Corp. | 2,444,047 | 90,039 | |||
* | Axalta Coating Systems Ltd. | 2,930,304 | 89,345 | |||
Louisiana-Pacific Corp. | 1,449,119 | 87,367 | ||||
Eagle Materials Inc. | 606,234 | 86,152 | ||||
Valvoline Inc. | 2,575,145 | 83,589 | ||||
Chemours Co. | 2,349,517 | 81,763 | ||||
Huntsman Corp. | 2,805,667 | 74,406 | ||||
Element Solutions Inc. | 3,088,792 | 72,216 | ||||
Graphic Packaging Holding Co. | 3,973,507 | 72,079 | ||||
Ashland Global Holdings Inc. | 774,973 | 67,810 | ||||
Avient Corp. | 1,275,745 | 62,716 | ||||
Balchem Corp. | 462,586 | 60,719 | ||||
W R Grace & Co. | 873,621 | 60,385 | ||||
* | Summit Materials Inc. Class A | 1,647,076 | 57,401 | |||
Hecla Mining Co. | 7,531,789 | 56,036 | ||||
Commercial Metals Co. | 1,713,801 | 52,648 | ||||
Sensient Technologies Corp. | 586,277 | 50,748 | ||||
* | Arconic Corp. | 1,364,520 | 48,604 | |||
HB Fuller Co. | 741,185 | 47,147 | ||||
Silgan Holdings Inc. | 1,116,515 | 46,335 | ||||
* | Ingevity Corp. | 561,834 | 45,711 | |||
Cabot Corp. | 788,562 | 44,893 | ||||
Quaker Chemical Corp. | 188,830 | 44,789 | ||||
* | Livent Corp. | 2,260,643 | 43,766 | |||
Westlake Chemical Corp. | 482,045 | 43,427 | ||||
* | Amyris Inc. | 2,629,465 | 43,044 | |||
* | Domtar Corp. | 711,295 | 39,093 | |||
Minerals Technologies Inc. | 481,955 | 37,915 | ||||
* | Allegheny Technologies Inc. | 1,761,822 | 36,734 | |||
* | O-I Glass Inc. | 2,242,818 | 36,625 | |||
Stepan Co. | 303,574 | 36,511 | ||||
Tronox Holdings plc Class A | 1,560,157 | 34,948 | ||||
*,1 | MP Materials Corp. | 936,735 | 34,528 | |||
NewMarket Corp. | 104,706 | 33,713 | ||||
Trinseo SA | 551,581 | 33,007 | ||||
* | Coeur Mining Inc. | 3,642,168 | 32,342 | |||
Innospec Inc. | 338,188 | 30,643 | ||||
Worthington Industries Inc. | 490,587 | 30,014 | ||||
Compass Minerals International Inc. | 486,853 | 28,851 | ||||
Kaiser Aluminum Corp. | 227,663 | 28,114 | ||||
Carpenter Technology Corp. | 689,200 | 27,720 | ||||
Greif Inc. Class A | 457,449 | 27,699 | ||||
* | Ferro Corp. | 1,191,485 | 25,700 | |||
*,1 | PureCycle Technologies Inc. | 1,047,995 | 24,785 | |||
Materion Corp. | 294,299 | 22,175 | ||||
* | Danimer Scientific Inc. | 882,721 | 22,112 | |||
Schweitzer-Mauduit International Inc. | 463,436 | 18,714 | ||||
Schnitzer Steel Industries Inc. Class A | 367,618 | 18,032 |
Shares | Market Value ($000) | |||||
* | US Concrete Inc. | 229,552 | 16,941 | |||
* | GCP Applied Technologies Inc. | 692,978 | 16,119 | |||
* | Orion Engineered Carbons SA | 812,125 | 15,422 | |||
* | Kraton Corp. | 459,108 | 14,825 | |||
* | Ranpak Holdings Corp. Class A | 591,359 | 14,802 | |||
Resolute Forest Products Inc. | 1,118,443 | 13,645 | ||||
Warrior Met Coal Inc. | 752,065 | 12,936 | ||||
Neenah Inc. | 246,220 | 12,353 | ||||
PQ Group Holdings Inc. | 752,216 | 11,554 | ||||
* | Diversey Holdings Ltd. | 637,831 | 11,424 | |||
Myers Industries Inc. | 526,640 | 11,059 | ||||
* | AdvanSix Inc. | 364,654 | 10,889 | |||
* | Koppers Holdings Inc. | 310,217 | 10,036 | |||
Chase Corp. | 97,050 | 9,958 | ||||
* | Century Aluminum Co. | 721,814 | 9,304 | |||
Hawkins Inc. | 277,331 | 9,083 | ||||
* | Zymergen Inc. | 225,647 | 9,028 | |||
SunCoke Energy Inc. | 1,236,101 | 8,826 | ||||
Pactiv Evergreen Inc. | 585,199 | 8,819 | ||||
Glatfelter Corp. | 597,487 | 8,347 | ||||
* | TimkenSteel Corp. | 556,094 | 7,869 | |||
Mercer International Inc. | 597,351 | 7,616 | ||||
Verso Corp. Class A | 419,667 | 7,428 | ||||
* | Clearwater Paper Corp. | 251,747 | 7,293 | |||
* | Alpha Metallurgical Resources Inc. | 263,839 | 6,762 | |||
* | Forterra Inc. | 279,071 | 6,561 | |||
Haynes International Inc. | 183,165 | 6,480 | ||||
* | Rayonier Advanced Materials Inc. | 913,698 | 6,113 | |||
* | UFP Technologies Inc. | 105,705 | 6,070 | |||
*,1 | McEwen Mining Inc. | 4,291,585 | 5,922 | |||
American Vanguard Corp. | 337,612 | 5,912 | ||||
*,1 | Gatos Silver Inc. | 327,377 | 5,726 | |||
Tredegar Corp. | 364,892 | 5,025 | ||||
* | Intrepid Potash Inc. | 146,628 | 4,672 | |||
Kronos Worldwide Inc. | 311,343 | 4,458 | ||||
United States Lime & Minerals Inc. | 29,478 | 4,100 | ||||
Olympic Steel Inc. | 136,127 | 4,001 | ||||
*,1 | Loop Industries Inc. | 322,000 | 3,970 | |||
FutureFuel Corp. | 394,467 | 3,787 | ||||
* | Venator Materials plc | 789,121 | 3,740 | |||
* | Ryerson Holding Corp. | 243,758 | 3,559 | |||
Gold Resource Corp. | 1,103,006 | 2,846 | ||||
* | Trecora Resources | 336,352 | 2,798 | |||
* | Marrone Bio Innovations Inc. | 1,425,744 | 2,367 | |||
* | Advanced Emissions Solutions Inc. | 288,024 | 2,134 | |||
* | LSB Industries Inc. | 325,159 | 1,967 | |||
*,1 | Comstock Mining Inc. | 480,028 | 1,742 | |||
* | Flotek Industries Inc. | 946,103 | 1,637 | |||
*,1 | Hycroft Mining Holding Corp. | 529,322 | 1,620 | |||
Northern Technologies International Corp. | 90,059 | 1,567 | ||||
* | Core Molding Technologies Inc. | 98,285 | 1,517 | |||
* | Smith-Midland Corp. | 58,500 | 1,381 | |||
*,1 | United States Antimony Corp. | 1,204,357 | 1,190 | |||
* | Universal Stainless & Alloy Products Inc. | 114,415 | 1,152 | |||
Friedman Industries Inc. | 79,293 | 1,063 | ||||
* | Synalloy Corp. | 106,210 | 1,061 | |||
* | Ampco-Pittsburgh Corp. | 159,675 | 969 | |||
*,1 | Golden Minerals Co. | 1,371,650 | 843 | |||
* | AgroFresh Solutions Inc. | 396,351 | 824 | |||
* | Crown ElectroKinetics Corp. | 174,301 | 737 | |||
* | US Gold Corp. | 48,897 | 543 |
Shares | Market Value ($000) | |||||
*,1 | Solitario Zinc Corp. | 788,689 | 528 | |||
* | Ramaco Resources Inc. | 94,034 | 517 | |||
* | Paramount Gold Nevada Corp. | 340,306 | 330 | |||
* | Ikonics Corp. | 4,271 | 82 | |||
*,2 | Partners LP CVR | 40,838 | 3 | |||
4,209,534 | ||||||
Other (0.00%)5 | ||||||
*,2 | Spirit MTA REIT | 653,668 | 175 | |||
*,2 | Media General Inc. CVR | 1,202,098 | 47 | |||
*,2 | Contra Costa County Board of Education CVR | 44,870 | 3 | |||
*,2 | Biosante Pharmaceutical Inc. CVR | 44,795 | — | |||
225 | ||||||
Real Estate (6.76%) | ||||||
Invitation Homes Inc. | 8,010,086 | 298,696 | ||||
Sun Communities Inc. | 1,590,005 | 272,527 | ||||
VICI Properties Inc. | 7,638,937 | 236,960 | ||||
WP Carey Inc. | 2,532,989 | 189,012 | ||||
Camden Property Trust | 1,380,685 | 183,175 | ||||
Equity LifeStyle Properties Inc. | 2,417,854 | 179,671 | ||||
Medical Properties Trust Inc. | 8,349,385 | 167,823 | ||||
American Homes 4 Rent Class A | 3,885,156 | 150,938 | ||||
VEREIT Inc. | 3,260,422 | 149,751 | ||||
Gaming & Leisure Properties Inc. | 3,111,107 | 144,138 | ||||
* | Jones Lang LaSalle Inc. | 728,228 | 142,339 | |||
Americold Realty Trust | 3,589,249 | 135,853 | ||||
CubeSmart | 2,870,357 | 132,955 | ||||
Lamar Advertising Co. Class A | 1,235,161 | 128,976 | ||||
CyrusOne Inc. | 1,743,017 | 124,661 | ||||
Omega Healthcare Investors Inc. | 3,335,075 | 121,030 | ||||
STORE Capital Corp. | 3,460,386 | 119,418 | ||||
Life Storage Inc. | 1,098,843 | 117,961 | ||||
National Retail Properties Inc. | 2,499,063 | 117,156 | ||||
Rexford Industrial Realty Inc. | 1,910,934 | 108,828 | ||||
Apartment Income REIT Corp. | 2,226,170 | 105,587 | ||||
Kilroy Realty Corp. | 1,508,786 | 105,072 | ||||
First Industrial Realty Trust Inc. | 1,860,304 | 97,164 | ||||
Brixmor Property Group Inc. | 4,224,033 | 96,688 | ||||
EastGroup Properties Inc. | 569,421 | 93,641 | ||||
* | Redfin Corp. | 1,469,781 | 93,199 | |||
American Campus Communities Inc. | 1,955,053 | 91,340 | ||||
*,1 | Opendoor Technologies Inc. | 4,844,443 | 85,892 | |||
STAG Industrial Inc. | 2,285,155 | 85,533 | ||||
CoreSite Realty Corp. | 619,020 | 83,320 | ||||
Healthcare Trust of America Inc. Class A | 3,114,081 | 83,146 | ||||
Douglas Emmett Inc. | 2,347,418 | 78,920 | ||||
SL Green Realty Corp. | 985,360 | 78,829 | ||||
Spirit Realty Capital Inc. | 1,637,358 | 78,331 | ||||
Cousins Properties Inc. | 2,126,836 | 78,225 | ||||
QTS Realty Trust Inc. Class A | 971,621 | 75,106 | ||||
Rayonier Inc. | 1,958,810 | 70,380 | ||||
* | Park Hotels & Resorts Inc. | 3,340,008 | 68,838 | |||
Agree Realty Corp. | 965,080 | 68,028 | ||||
Highwoods Properties Inc. | 1,462,488 | 66,061 | ||||
Innovative Industrial Properties Inc. | 338,316 | 64,625 | ||||
Terreno Realty Corp. | 978,524 | 63,134 | ||||
* | Howard Hughes Corp. | 640,779 | 62,450 | |||
* | Ryman Hospitality Properties Inc. | 772,335 | 60,984 | |||
Healthcare Realty Trust Inc. | 1,988,921 | 60,065 | ||||
Hudson Pacific Properties Inc. | 2,117,082 | 58,897 | ||||
Physicians Realty Trust | 3,069,944 | 56,702 |
Shares | Market Value ($000) | |||||
* | EPR Properties | 1,055,375 | 55,597 | |||
Sabra Health Care REIT Inc. | 3,004,087 | 54,674 | ||||
* | DigitalBridge Group Inc. | 6,865,752 | 54,239 | |||
Weingarten Realty Investors | 1,689,738 | 54,190 | ||||
Broadstone Net Lease Inc. Class A | 2,207,251 | 51,672 | ||||
PotlatchDeltic Corp. | 933,584 | 49,620 | ||||
National Storage Affiliates Trust | 972,030 | 49,146 | ||||
* | Outfront Media Inc. | 2,043,605 | 49,108 | |||
JBG SMITH Properties | 1,536,949 | 48,429 | ||||
Lexington Realty Trust | 3,967,332 | 47,410 | ||||
Equity Commonwealth | 1,704,821 | 44,666 | ||||
Essential Properties Realty Trust Inc. | 1,647,179 | 44,540 | ||||
Apple Hospitality REIT Inc. | 2,908,311 | 44,381 | ||||
Corporate Office Properties Trust | 1,563,057 | 43,750 | ||||
National Health Investors Inc. | 650,681 | 43,628 | ||||
Pebblebrook Hotel Trust | 1,823,677 | 42,948 | ||||
Macerich Co. | 2,348,602 | 42,862 | ||||
PS Business Parks Inc. | 285,331 | 42,252 | ||||
* | Sunstone Hotel Investors Inc. | 2,992,536 | 37,167 | |||
SITE Centers Corp. | 2,388,367 | 35,969 | ||||
Uniti Group Inc. | 3,329,715 | 35,262 | ||||
Kennedy-Wilson Holdings Inc. | 1,755,854 | 34,889 | ||||
RLJ Lodging Trust | 2,285,238 | 34,804 | ||||
Retail Properties of America Inc. Class A | 2,968,363 | 33,988 | ||||
Brandywine Realty Trust | 2,396,837 | 32,861 | ||||
Piedmont Office Realty Trust Inc. Class A | 1,769,637 | 32,685 | ||||
CareTrust REIT Inc. | 1,390,570 | 32,303 | ||||
* | eXp World Holdings Inc. | 813,745 | 31,549 | |||
Retail Opportunity Investments Corp. | 1,715,075 | 30,288 | ||||
Four Corners Property Trust Inc. | 1,093,274 | 30,185 | ||||
* | Realogy Holdings Corp. | 1,655,030 | 30,155 | |||
Service Properties Trust | 2,354,409 | 29,666 | ||||
* | Xenia Hotels & Resorts Inc. | 1,573,355 | 29,469 | |||
Urban Edge Properties | 1,516,473 | 28,965 | ||||
Newmark Group Inc. Class A | 2,343,828 | 28,149 | ||||
* | DiamondRock Hospitality Co. | 2,892,956 | 28,062 | |||
Columbia Property Trust Inc. | 1,580,887 | 27,492 | ||||
* | Cushman & Wakefield plc | 1,567,026 | 27,376 | |||
Acadia Realty Trust | 1,240,369 | 27,239 | ||||
Washington REIT | 1,178,600 | 27,108 | ||||
Independence Realty Trust Inc. | 1,477,761 | 26,940 | ||||
Tanger Factory Outlet Centers Inc. | 1,426,279 | 26,885 | ||||
American Assets Trust Inc. | 720,463 | 26,866 | ||||
Monmouth Real Estate Investment Corp. | 1,414,488 | 26,479 | ||||
Kite Realty Group Trust | 1,166,575 | 25,676 | ||||
Easterly Government Properties Inc. | 1,191,036 | 25,107 | ||||
Global Net Lease Inc. | 1,357,056 | 25,106 | ||||
Industrial Logistics Properties Trust | 944,119 | 24,679 | ||||
Empire State Realty Trust Inc. Class A | 2,030,663 | 24,368 | ||||
Paramount Group Inc. | 2,394,162 | 24,109 | ||||
iStar Inc. | 1,070,018 | 22,181 | ||||
LTC Properties Inc. | 543,627 | 20,870 | ||||
St. Joe Co. | 451,752 | 20,153 | ||||
Mack-Cali Realty Corp. | 1,174,644 | 20,145 | ||||
Office Properties Income Trust | 658,780 | 19,309 | ||||
Alexander & Baldwin Inc. | 1,048,362 | 19,206 | ||||
NexPoint Residential Trust Inc. | 314,428 | 17,287 | ||||
Safehold Inc. | 208,718 | 16,384 | ||||
Getty Realty Corp. | 513,420 | 15,993 | ||||
RPT Realty | 1,192,268 | 15,476 | ||||
Community Healthcare Trust Inc. | 314,832 | 14,942 |
Shares | Market Value ($000) | |||||
* | Summit Hotel Properties Inc. | 1,530,253 | 14,277 | |||
Diversified Healthcare Trust | 3,374,826 | 14,107 | ||||
Apartment Investment & Management Co. Class A | 2,098,504 | 14,081 | ||||
* | Marcus & Millichap Inc. | 358,305 | 13,927 | |||
Centerspace | 173,669 | 13,702 | ||||
American Finance Trust Inc. Class A | 1,563,375 | 13,257 | ||||
UMH Properties Inc. | 582,245 | 12,705 | ||||
1 | GEO Group Inc. | 1,725,912 | 12,288 | |||
Armada Hoffler Properties Inc. | 894,389 | 11,886 | ||||
Global Medical REIT Inc. | 789,130 | 11,648 | ||||
Gladstone Commercial Corp. | 499,126 | 11,260 | ||||
Universal Health Realty Income Trust | 174,624 | 10,748 | ||||
New Senior Investment Group Inc. | 1,179,220 | 10,354 | ||||
* | Seritage Growth Properties Class A | 542,635 | 9,984 | |||
*,1 | Ashford Hospitality Trust Inc. | 2,167,885 | 9,886 | |||
Urstadt Biddle Properties Inc. Class A | 483,474 | 9,370 | ||||
RE/MAX Holdings Inc. Class A | 278,801 | 9,292 | ||||
Gladstone Land Corp. | 373,571 | 8,988 | ||||
* | Chatham Lodging Trust | 697,356 | 8,975 | |||
Plymouth Industrial REIT Inc. | 445,075 | 8,910 | ||||
RMR Group Inc. Class A | 227,240 | 8,781 | ||||
Saul Centers Inc. | 192,280 | 8,739 | ||||
NETSTREIT Corp. | 377,007 | 8,694 | ||||
Alexander's Inc. | 31,209 | 8,362 | ||||
City Office REIT Inc. | 650,310 | 8,083 | ||||
* | Rafael Holdings Inc. Class B | 151,886 | 7,754 | |||
CatchMark Timber Trust Inc. Class A | 656,570 | 7,682 | ||||
Franklin Street Properties Corp. | 1,388,925 | 7,306 | ||||
Preferred Apartment Communities Inc. Class A | 722,674 | 7,046 | ||||
One Liberty Properties Inc. | 238,162 | 6,761 | ||||
* | CorePoint Lodging Inc. | 574,074 | 6,143 | |||
* | Hersha Hospitality Trust Class A | 552,656 | 5,947 | |||
* | FRP Holdings Inc. | 97,165 | 5,410 | |||
* | Forestar Group Inc. | 255,427 | 5,341 | |||
Retail Value Inc. | 242,780 | 5,280 | ||||
CTO Realty Growth Inc. | 95,171 | 5,094 | ||||
* | Tejon Ranch Co. | 327,577 | 4,982 | |||
Farmland Partners Inc. | 407,561 | 4,911 | ||||
Indus Realty Trust Inc. | 74,573 | 4,896 | ||||
* | Braemar Hotels & Resorts Inc. | 698,188 | 4,336 | |||
Whitestone REIT | 508,665 | 4,196 | ||||
Bluerock Residential Growth REIT Inc. Class A | 385,120 | 3,917 | ||||
Postal Realty Trust Inc. Class A | 211,996 | 3,867 | ||||
Cedar Realty Trust Inc. | 181,763 | 3,061 | ||||
BRT Apartments Corp. | 160,894 | 2,790 | ||||
*,1 | Pennsylvania REIT | 923,550 | 2,300 | |||
Alpine Income Property Trust Inc. | 117,243 | 2,230 | ||||
*,1 | Stratus Properties Inc. | 87,488 | 2,158 | |||
1 | New York City REIT Inc. Class A | 153,517 | 2,011 | |||
*,1 | Fathom Holdings Inc. | 54,236 | 1,778 | |||
1 | CorEnergy Infrastructure Trust Inc. | 235,189 | 1,557 | |||
Clipper Realty Inc. | 196,786 | 1,446 | ||||
* | Altisource Portfolio Solutions SA | 136,542 | 1,214 | |||
* | Maui Land & Pineapple Co. Inc. | 87,932 | 944 | |||
1 | CIM Commercial Trust Corp. | 90,052 | 806 | |||
* | Transcontinental Realty Investors Inc. | 22,564 | 762 | |||
* | Wheeler REIT Inc. | 148,244 | 750 | |||
* | Sotherly Hotels Inc. | 219,143 | 657 | |||
* | Trinity Place Holdings Inc. | 293,741 | 620 | |||
* | Power REIT | 14,432 | 580 | |||
* | Condor Hospitality Trust Inc. | 70,224 | 426 |
Shares | Market Value ($000) | |||||
Global Self Storage Inc. | 80,071 | 417 | ||||
1 | InnSuites Hospitality Trust | 51,296 | 345 | |||
* | InterGroup Corp. | 6,800 | 305 | |||
* | Compass Inc. Class A | 16,022 | 211 | |||
*,1 | Alset EHome International Inc. Class A | 33,825 | 192 | |||
* | JW Mays Inc. | 4,600 | 142 | |||
* | Medalist Diversified REIT Inc. | 70,942 | 96 | |||
* | American Realty Investors Inc. | 8,298 | 77 | |||
* | Altisource Asset Management Corp. | 2,631 | 50 | |||
* | HMG/Courtland Properties Inc. | 1,000 | 16 | |||
* | CKX Lands Inc. | 1,000 | 12 | |||
*,1 | CIM Commercial Trust Corp. Rights | 213,355 | — | |||
7,740,055 | ||||||
Utilities (1.77%) | ||||||
* | PG&E Corp. | 21,015,762 | 213,730 | |||
Essential Utilities Inc. | 3,187,749 | 145,680 | ||||
UGI Corp. | 2,948,015 | 136,523 | ||||
Vistra Corp. | 6,461,744 | 119,865 | ||||
OGE Energy Corp. | 2,832,467 | 95,312 | ||||
MDU Resources Group Inc. | 2,855,093 | 89,479 | ||||
IDACORP Inc. | 718,773 | 70,080 | ||||
National Fuel Gas Co. | 1,268,865 | 66,298 | ||||
Hawaiian Electric Industries Inc. | 1,557,018 | 65,831 | ||||
Black Hills Corp. | 893,785 | 58,659 | ||||
PNM Resources Inc. | 1,202,685 | 58,655 | ||||
Portland General Electric Co. | 1,252,680 | 57,723 | ||||
ONE Gas Inc. | 739,164 | 54,787 | ||||
Southwest Gas Holdings Inc. | 810,698 | 53,660 | ||||
New Jersey Resources Corp. | 1,340,478 | 53,043 | ||||
Spire Inc. | 722,817 | 52,238 | ||||
ALLETE Inc. | 744,710 | 52,115 | ||||
Avangrid Inc. | 993,110 | 51,076 | ||||
Ormat Technologies Inc. | 640,398 | 44,527 | ||||
NorthWestern Corp. | 724,495 | 43,629 | ||||
American States Water Co. | 522,678 | 41,584 | ||||
Avista Corp. | 959,962 | 40,962 | ||||
South Jersey Industries Inc. | 1,572,369 | 40,771 | ||||
California Water Service Group | 716,169 | 39,776 | ||||
MGE Energy Inc. | 505,759 | 37,649 | ||||
* | Sunnova Energy International Inc. | 901,105 | 33,936 | |||
Clearway Energy Inc. Class C | 1,204,139 | 31,886 | ||||
Chesapeake Utilities Corp. | 251,544 | 30,268 | ||||
Otter Tail Corp. | 583,969 | 28,503 | ||||
SJW Group | 381,952 | 24,178 | ||||
Northwest Natural Holding Co. | 421,657 | 22,145 | ||||
Middlesex Water Co. | 239,004 | 19,534 | ||||
Unitil Corp. | 219,845 | 11,645 | ||||
York Water Co. | 191,787 | 8,688 | ||||
Clearway Energy Inc. Class A | 314,697 | 7,937 | ||||
*,1 | Cadiz Inc. | 486,617 | 6,618 | |||
* | Pure Cycle Corp. | 358,164 | 4,950 | |||
Artesian Resources Corp. Class A | 116,927 | 4,299 | ||||
RGC Resources Inc. | 89,040 | 2,245 | ||||
1 | Spark Energy Inc. Class A | 198,114 | 2,245 | |||
Global Water Resources Inc. | 125,187 | 2,138 | ||||
Genie Energy Ltd. Class B | 286,048 | 1,808 | ||||
2,026,675 | ||||||
Total Common Stocks (Cost $70,199,705) | 113,264,258 |
Shares | Market Value ($000) | |||||
Preferred Stocks (0.00%) | ||||||
1 | FAT Brands Inc. Pfd., 8.250%, 8/6/21 | 7,939 | 173 | |||
Air T Funding Pfd., 8.000%, 6/7/24 | 704 | 17 | ||||
Total Preferred Stocks (Cost $143) | 190 | |||||
Coupon | ||||||
Temporary Cash Investments (3.07%) | ||||||
Money Market Fund (3.07%) | ||||||
6,7 | Vanguard Market Liquidity Fund (Cost $3,510,384) | 0.056% | 35,106,450 | 3,510,645 | ||
Total Investments (102.02%) (Cost $73,710,232) | 116,775,093 | |||||
Other Assets and Liabilities—Net (-2.02%) | (2,307,311) | |||||
Net Assets (100%) | 114,467,782 |
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 $2,373,517,000. |
2 | Security value determined using significant unobservable inputs. |
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 June 30, 2021, the aggregate value was $45,527,000, representing 0.0% of net assets. |
4 | Restricted securities totaling $749,000, representing 0.0% of net assets. |
5 | “Other” represents securities that are not classified by the fund’s benchmark index. |
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. |
7 | Collateral of $2,526,378,000 was received for securities on loan, of which $2,486,865,000 is held in Vanguard Market Liquidity Fund and $39,513,000 is held in cash. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Shares | Market Value ($000) | |||||
Common Stocks (99.52%) | ||||||
Basic Materials (2.01%) | ||||||
Linde plc | 14,686,456 | 4,245,854 | ||||
Air Products and Chemicals Inc. | 6,250,874 | 1,798,251 | ||||
Freeport-McMoRan Inc. | 41,398,649 | 1,536,304 | ||||
Ecolab Inc. | 7,267,697 | 1,496,928 | ||||
Newmont Corp. | 22,627,672 | 1,434,142 | ||||
Dow Inc. | 21,052,825 | 1,332,223 | ||||
International Flavors & Fragrances Inc. | 7,031,608 | 1,050,522 | ||||
Fastenal Co. | 16,221,837 | 843,536 | ||||
Nucor Corp. | 8,452,897 | 810,886 | ||||
LyondellBasell Industries NV Class A | 7,556,879 | 777,376 | ||||
International Paper Co. | 11,072,420 | 678,850 | ||||
Albemarle Corp. | 3,297,648 | 555,522 | ||||
Avery Dennison Corp. | 2,345,738 | 493,168 | ||||
Celanese Corp. | 3,180,980 | 482,237 | ||||
Eastman Chemical Co. | 3,855,687 | 450,151 | ||||
FMC Corp. | 3,639,621 | 393,807 | ||||
Steel Dynamics Inc. | 5,666,972 | 337,752 | ||||
CF Industries Holdings Inc. | 6,061,698 | 311,874 | ||||
Mosaic Co. | 9,658,934 | 308,217 | ||||
*,1 | Cleveland-Cliffs Inc. | 12,700,376 | 273,820 | |||
Reliance Steel & Aluminum Co. | 1,797,642 | 271,264 | ||||
Scotts Miracle-Gro Co. | 1,101,728 | 211,444 | ||||
Royal Gold Inc. | 1,852,015 | 211,315 | ||||
Olin Corp. | 4,050,682 | 187,385 | ||||
* | Alcoa Corp. | 4,887,484 | 180,055 | |||
Valvoline Inc. | 5,115,982 | 166,065 | ||||
1 | United States Steel Corp. | 6,849,768 | 164,394 | |||
Chemours Co. | 4,679,928 | 162,861 | ||||
Timken Co. | 1,933,609 | 155,830 | ||||
Ashland Global Holdings Inc. | 1,714,886 | 150,053 | ||||
Huntsman Corp. | 5,639,147 | 149,550 | ||||
* | Hexcel Corp. | 2,364,562 | 147,549 | |||
* | RBC Bearings Inc. | 711,783 | 141,944 | |||
Element Solutions Inc. | 5,934,511 | 138,749 | ||||
W R Grace & Co. | 1,873,229 | 129,478 | ||||
Avient Corp. | 2,591,606 | 127,403 | ||||
UFP Industries Inc. | 1,656,676 | 123,157 | ||||
Balchem Corp. | 915,785 | 120,206 | ||||
* | Univar Solutions Inc. | 4,813,277 | 117,348 | |||
Hecla Mining Co. | 15,135,365 | 112,607 | ||||
Commercial Metals Co. | 3,409,274 | 104,733 | ||||
Sensient Technologies Corp. | 1,193,306 | 103,293 | ||||
* | Arconic Corp. | 2,795,205 | 99,565 | |||
* | Ingevity Corp. | 1,133,758 | 92,243 | |||
Cabot Corp. | 1,607,716 | 91,527 | ||||
Quaker Chemical Corp. | 379,389 | 89,987 | ||||
* | Amyris Inc. | 5,351,453 | 87,603 | |||
* | Livent Corp. | 4,515,127 | 87,413 | |||
*,1 | MP Materials Corp. | 2,313,214 | 85,265 | |||
Westlake Chemical Corp. | 902,956 | 81,347 | ||||
NewMarket Corp. | 246,790 | 79,461 | ||||
* | Domtar Corp. | 1,423,198 | 78,219 | |||
Minerals Technologies Inc. | 959,813 | 75,508 | ||||
Stepan Co. | 604,099 | 72,655 | ||||
Tronox Holdings plc Class A | 3,231,958 | 72,396 | ||||
Mueller Industries Inc. | 1,535,264 | 66,492 | ||||
GrafTech International Ltd. | 5,657,377 | 65,739 |
Shares | Market Value ($000) | |||||
Boise Cascade Co. | 1,115,567 | 65,093 | ||||
Innospec Inc. | 693,642 | 62,851 | ||||
Worthington Industries Inc. | 962,095 | 58,861 | ||||
* | Coeur Mining Inc. | 6,502,079 | 57,738 | |||
Compass Minerals International Inc. | 967,222 | 57,318 | ||||
Carpenter Technology Corp. | 1,367,924 | 55,018 | ||||
Kaiser Aluminum Corp. | 444,945 | 54,946 | ||||
Materion Corp. | 579,760 | 43,685 | ||||
Schweitzer-Mauduit International Inc. | 875,359 | 35,347 | ||||
* | GCP Applied Technologies Inc. | 1,462,469 | 34,017 | |||
Schnitzer Steel Industries Inc. Class A | 682,486 | 33,476 | ||||
* | Kraton Corp. | 854,618 | 27,596 | |||
*,1 | Energy Fuels Inc. | 4,042,519 | 24,457 | |||
Neenah Inc. | 469,944 | 23,577 | ||||
PQ Group Holdings Inc. | 1,507,543 | 23,156 | ||||
* | US Silica Holdings Inc. | 1,990,676 | 23,012 | |||
* | AdvanSix Inc. | 770,146 | 22,997 | |||
*,1 | Zymergen Inc. | 564,247 | 22,576 | |||
* | Koppers Holdings Inc. | 586,622 | 18,977 | |||
Hawkins Inc. | 547,476 | 17,930 | ||||
* | Century Aluminum Co. | 1,381,682 | 17,810 | |||
Glatfelter Corp. | 1,245,051 | 17,393 | ||||
*,1 | Uranium Energy Corp. | 6,231,638 | 16,576 | |||
Resolute Forest Products Inc. | 1,348,495 | 16,452 | ||||
*,1 | Gatos Silver Inc. | 920,017 | 16,091 | |||
* | TimkenSteel Corp. | 1,089,498 | 15,416 | |||
Verso Corp. Class A | 777,751 | 13,766 | ||||
American Vanguard Corp. | 752,309 | 13,173 | ||||
*,1 | Meta Materials Inc. | 1,745,203 | 13,072 | |||
* | Clearwater Paper Corp. | 442,264 | 12,812 | |||
Haynes International Inc. | 345,682 | 12,230 | ||||
Omega Flex Inc. | 81,817 | 12,003 | ||||
Tredegar Corp. | 828,913 | 11,414 | ||||
* | Unifi Inc. | 455,043 | 11,085 | |||
* | Rayonier Advanced Materials Inc. | 1,619,718 | 10,836 | |||
* | Intrepid Potash Inc. | 282,908 | 9,013 | |||
* | NN Inc. | 1,111,750 | 8,171 | |||
* | Northwest Pipe Co. | 286,170 | 8,084 | |||
Olympic Steel Inc. | 266,097 | 7,821 | ||||
*,1 | Ur-Energy Inc. | 5,132,158 | 7,185 | |||
FutureFuel Corp. | 739,186 | 7,096 | ||||
* | Ryerson Holding Corp. | 434,133 | 6,338 | |||
Eastern Co. | 201,875 | 6,123 | ||||
Culp Inc. | 354,635 | 5,781 | ||||
Gold Resource Corp. | 2,124,067 | 5,480 | ||||
* | Marrone Bio Innovations Inc. | 2,723,634 | 4,521 | |||
Northern Technologies International Corp. | 240,001 | 4,176 | ||||
* | LSB Industries Inc. | 684,091 | 4,139 | |||
*,1 | Westwater Resources Inc. | 844,700 | 4,021 | |||
*,2 | Meta Materials Inc. Series A Class A | 3,488,956 | 3,768 | |||
*,1 | Comstock Mining Inc. | 953,420 | 3,461 | |||
*,1 | CPS Technologies Corp. | 336,065 | 3,230 | |||
*,1 | Hycroft Mining Holding Corp. | 985,459 | 3,015 | |||
* | Universal Stainless & Alloy Products Inc. | 278,310 | 2,803 | |||
*,3 | Perma-Pipe International Holdings Inc. | 416,232 | 2,772 | |||
*,1 | Golden Minerals Co. | 4,466,858 | 2,744 | |||
*,1 | United States Antimony Corp. | 2,761,481 | 2,728 | |||
Friedman Industries Inc. | 185,803 | 2,490 | ||||
* | Synalloy Corp. | 239,817 | 2,396 | |||
* | US Gold Corp. | 200,942 | 2,232 | |||
* | Ampco-Pittsburgh Corp. | 357,448 | 2,170 |
Shares | Market Value ($000) | |||||
*,1 | AgroFresh Solutions Inc. | 635,137 | 1,321 | |||
United-Guardian Inc. | 72,972 | 1,094 | ||||
* | Yield10 Bioscience Inc. | 75,885 | 647 | |||
* | Flexible Solutions International Inc. | 151,258 | 591 | |||
*,1 | Solitario Zinc Corp. | 522,011 | 350 | |||
Chicago Rivet & Machine Co. | 11,238 | 291 | ||||
* | Paramount Gold Nevada Corp. | 153,359 | 149 | |||
* | Hycroft Mining Holding Corp. Warrants Exp. 10/06/2025 | 155,000 | 130 | |||
*,2 | Partners LP CVR | 61,021 | 4 | |||
25,312,615 | ||||||
Consumer Discretionary (15.89%) | ||||||
* | Amazon.com Inc. | 12,108,357 | 41,654,685 | |||
* | Tesla Inc. | 21,768,378 | 14,795,967 | |||
Home Depot Inc. | 30,031,686 | 9,576,804 | ||||
* | Walt Disney Co. | 51,321,242 | 9,020,735 | |||
* | Netflix Inc. | 12,524,850 | 6,615,751 | |||
Walmart Inc. | 39,729,664 | 5,602,677 | ||||
NIKE Inc. Class B | 36,012,739 | 5,563,608 | ||||
Costco Wholesale Corp. | 12,499,201 | 4,945,559 | ||||
McDonald's Corp. | 21,075,098 | 4,868,137 | ||||
Lowe's Cos. Inc. | 20,195,166 | 3,917,256 | ||||
Starbucks Corp. | 33,281,400 | 3,721,193 | ||||
Target Corp. | 14,012,637 | 3,387,415 | ||||
* | Booking Holdings Inc. | 1,159,631 | 2,537,377 | |||
* | General Motors Co. | 36,879,260 | 2,182,146 | |||
TJX Cos. Inc. | 32,359,231 | 2,181,659 | ||||
Activision Blizzard Inc. | 21,951,547 | 2,095,056 | ||||
Estee Lauder Cos. Inc. Class A | 6,219,514 | 1,978,303 | ||||
* | Uber Technologies Inc. | 36,996,445 | 1,854,262 | |||
* | Ford Motor Co. | 110,754,941 | 1,645,818 | |||
Dollar General Corp. | 6,758,521 | 1,462,476 | ||||
eBay Inc. | 18,284,233 | 1,283,736 | ||||
Ross Stores Inc. | 10,072,844 | 1,249,033 | ||||
* | Chipotle Mexican Grill Inc. | 795,267 | 1,232,934 | |||
* | Lululemon Athletica Inc. | 3,358,129 | 1,225,616 | |||
* | Aptiv plc | 7,641,506 | 1,202,238 | |||
Electronic Arts Inc. | 8,086,589 | 1,163,094 | ||||
* | O'Reilly Automotive Inc. | 1,970,586 | 1,115,765 | |||
* | Marriott International Inc. Class A | 7,359,139 | 1,004,670 | |||
Yum! Brands Inc. | 8,414,313 | 967,898 | ||||
* | Hilton Worldwide Holdings Inc. | 7,868,387 | 949,085 | |||
*,1 | Trade Desk Inc. Class A | 12,175,372 | 941,887 | |||
* | AutoZone Inc. | 622,603 | 929,061 | |||
* | Peloton Interactive Inc. Class A | 7,210,482 | 894,244 | |||
* | Southwest Airlines Co. | 16,704,809 | 886,858 | |||
DR Horton Inc. | 9,168,678 | 828,573 | ||||
* | Copart Inc. | 6,016,624 | 793,172 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 13,932,885 | 789,716 | |||
* | Delta Air Lines Inc. | 18,085,393 | 782,374 | |||
VF Corp. | 9,387,188 | 770,125 | ||||
ViacomCBS Inc. Class B | 16,557,277 | 748,389 | ||||
Lennar Corp. Class A | 7,518,417 | 746,955 | ||||
* | Etsy Inc. | 3,588,844 | 738,728 | |||
Best Buy Co. Inc. | 6,366,566 | 732,028 | ||||
* | Carvana Co. | 2,286,566 | 690,131 | |||
* | Wayfair Inc. Class A | 2,083,722 | 657,852 | |||
* | Dollar Tree Inc. | 6,610,547 | 657,749 | |||
* | ROBLOX Corp. Class A | 7,289,015 | 655,866 | |||
* | Expedia Group Inc. | 3,991,171 | 653,395 | |||
Garmin Ltd. | 4,341,766 | 627,993 | ||||
* | Airbnb Inc. Class A | 4,090,795 | 626,464 |
Shares | Market Value ($000) | |||||
* | Las Vegas Sands Corp. | 11,847,766 | 624,259 | |||
* | Carnival Corp. | 23,381,064 | 616,325 | |||
Tractor Supply Co. | 3,256,462 | 605,897 | ||||
* | Burlington Stores Inc. | 1,880,003 | 605,342 | |||
* | CarMax Inc. | 4,609,776 | 595,353 | |||
* | Caesars Entertainment Inc. | 5,601,657 | 581,172 | |||
* | Take-Two Interactive Software Inc. | 3,269,030 | 578,684 | |||
* | Ulta Beauty Inc. | 1,562,200 | 540,162 | |||
Darden Restaurants Inc. | 3,697,081 | 539,737 | ||||
* | Royal Caribbean Cruises Ltd. | 6,114,537 | 521,448 | |||
Genuine Parts Co. | 4,082,048 | 516,257 | ||||
Domino's Pizza Inc. | 1,096,773 | 511,634 | ||||
MGM Resorts International | 11,759,266 | 501,533 | ||||
Pool Corp. | 1,076,447 | 493,723 | ||||
Omnicom Group Inc. | 6,077,658 | 486,152 | ||||
* | NVR Inc. | 97,599 | 485,389 | |||
* | United Airlines Holdings Inc. | 9,109,188 | 476,319 | |||
L Brands Inc. | 6,303,962 | 454,263 | ||||
* | Lyft Inc. Class A | 7,246,975 | 438,297 | |||
* | DraftKings Inc. Class A | 7,925,265 | 413,461 | |||
Whirlpool Corp. | 1,769,528 | 385,792 | ||||
PulteGroup Inc. | 7,059,361 | 385,229 | ||||
* | American Airlines Group Inc. | 18,128,242 | 384,500 | |||
Advance Auto Parts Inc. | 1,848,724 | 379,247 | ||||
Interpublic Group of Cos. Inc. | 11,118,348 | 361,235 | ||||
* | Vail Resorts Inc. | 1,137,472 | 360,033 | |||
* | Wynn Resorts Ltd. | 2,941,294 | 359,720 | |||
*,1 | GameStop Corp. Class A | 1,678,232 | 359,377 | |||
* | LKQ Corp. | 7,256,465 | 357,163 | |||
* | Live Nation Entertainment Inc. | 4,017,646 | 351,906 | |||
Hasbro Inc. | 3,692,458 | 349,011 | ||||
* | Tapestry Inc. | 7,884,682 | 342,826 | |||
News Corp. Class A | 13,295,848 | 342,634 | ||||
Williams-Sonoma Inc. | 2,127,307 | 339,625 | ||||
Fox Corp. Class A | 8,894,690 | 330,260 | ||||
BorgWarner Inc. | 6,778,676 | 329,037 | ||||
* | RH | 473,814 | 321,720 | |||
* | Chegg Inc. | 3,814,258 | 317,003 | |||
* | Floor & Decor Holdings Inc. Class A | 2,955,615 | 312,408 | |||
* | Zynga Inc. Class A | 29,203,729 | 310,436 | |||
* | Norwegian Cruise Line Holdings Ltd. | 10,438,959 | 307,010 | |||
* | Five Below Inc. | 1,582,834 | 305,914 | |||
* | Deckers Outdoor Corp. | 796,482 | 305,905 | |||
Lear Corp. | 1,699,322 | 297,857 | ||||
Newell Brands Inc. | 10,814,062 | 297,062 | ||||
Lithia Motors Inc. Class A | 840,866 | 288,955 | ||||
Aramark | 7,202,440 | 268,291 | ||||
Gap Inc. | 7,946,064 | 267,385 | ||||
* | Discovery Inc. Class C | 8,755,975 | 253,748 | |||
* | Bright Horizons Family Solutions Inc. | 1,724,586 | 253,704 | |||
* | Liberty Media Corp.-Liberty Formula One Class C | 5,247,450 | 252,980 | |||
Nielsen Holdings plc | 10,131,298 | 249,939 | ||||
* | Penn National Gaming Inc. | 3,217,318 | 246,093 | |||
Kohl's Corp. | 4,452,995 | 245,405 | ||||
* | Capri Holdings Ltd. | 4,278,737 | 244,701 | |||
Service Corp. International | 4,513,481 | 241,877 | ||||
Gentex Corp. | 6,821,223 | 225,714 | ||||
Polaris Inc. | 1,645,216 | 225,329 | ||||
Tempur Sealy International Inc. | 5,544,623 | 217,294 | ||||
* | PVH Corp. | 2,015,824 | 216,882 | |||
Rollins Inc. | 6,259,625 | 214,079 |
Shares | Market Value ($000) | |||||
* | SiteOne Landscape Supply Inc. | 1,255,707 | 212,541 | |||
* | Alaska Air Group Inc. | 3,520,763 | 212,337 | |||
* | IAA Inc. | 3,809,964 | 207,795 | |||
* | Crocs Inc. | 1,752,351 | 204,184 | |||
* | YETI Holdings Inc. | 2,220,185 | 203,857 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 4,340,022 | 201,334 | |||
* | Scientific Games Corp. | 2,576,240 | 199,504 | |||
Harley-Davidson Inc. | 4,342,210 | 198,960 | ||||
* | Mattel Inc. | 9,863,970 | 198,266 | |||
Churchill Downs Inc. | 980,023 | 194,299 | ||||
Wyndham Hotels & Resorts Inc. | 2,638,849 | 190,762 | ||||
Toll Brothers Inc. | 3,288,117 | 190,086 | ||||
* | Skechers USA Inc. Class A | 3,794,827 | 189,096 | |||
Leggett & Platt Inc. | 3,578,076 | 185,380 | ||||
* | BJ's Wholesale Club Holdings Inc. | 3,881,375 | 184,676 | |||
* | Fox Factory Holding Corp. | 1,186,213 | 184,646 | |||
Hanesbrands Inc. | 9,874,844 | 184,363 | ||||
* | AutoNation Inc. | 1,933,664 | 183,331 | |||
* | Marriott Vacations Worldwide Corp. | 1,146,462 | 182,631 | |||
Texas Roadhouse Inc. Class A | 1,874,000 | 180,279 | ||||
Foot Locker Inc. | 2,920,282 | 179,977 | ||||
* | Planet Fitness Inc. Class A | 2,352,762 | 177,045 | |||
New York Times Co. Class A | 4,009,577 | 174,617 | ||||
* | Terminix Global Holdings Inc. | 3,632,729 | 173,317 | |||
Nexstar Media Group Inc. Class A | 1,149,908 | 170,048 | ||||
Thor Industries Inc. | 1,486,560 | 167,981 | ||||
Dick's Sporting Goods Inc. | 1,668,101 | 167,127 | ||||
* | Macy's Inc. | 8,813,772 | 167,109 | |||
*,1 | Chewy Inc. Class A | 2,072,055 | 165,163 | |||
Fox Corp. Class B | 4,661,536 | 164,086 | ||||
1 | American Eagle Outfitters Inc. | 4,252,622 | 159,601 | |||
* | Helen of Troy Ltd. | 691,227 | 157,683 | |||
Ralph Lauren Corp. | 1,288,142 | 151,756 | ||||
1 | Sirius XM Holdings Inc. | 23,152,530 | 151,418 | |||
* | JetBlue Airways Corp. | 8,947,487 | 150,139 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 1,754,292 | 147,589 | |||
AMERCO | 249,287 | 146,930 | ||||
Travel + Leisure Co. | 2,436,880 | 144,873 | ||||
*,1 | Discovery Inc. Class A | 4,615,636 | 141,608 | |||
* | Boyd Gaming Corp. | 2,223,202 | 136,705 | |||
* | Goodyear Tire & Rubber Co. | 7,894,912 | 135,398 | |||
Qurate Retail Inc. Class A | 10,193,219 | 133,429 | ||||
Wingstop Inc. | 839,641 | 132,353 | ||||
*,1 | Luminar Technologies Inc. Class A | 5,875,678 | 128,971 | |||
* | Sonos Inc. | 3,514,436 | 123,814 | |||
Choice Hotels International Inc. | 1,023,625 | 121,668 | ||||
Carter's Inc. | 1,179,046 | 121,642 | ||||
* | frontdoor Inc. | 2,423,474 | 120,737 | |||
H&R Block Inc. | 5,137,365 | 120,625 | ||||
* | National Vision Holdings Inc. | 2,310,504 | 118,136 | |||
* | Grand Canyon Education Inc. | 1,310,859 | 117,938 | |||
Wendy's Co. | 5,009,268 | 117,317 | ||||
TEGNA Inc. | 6,231,032 | 116,894 | ||||
* | Nordstrom Inc. | 3,154,431 | 115,358 | |||
* | Callaway Golf Co. | 3,379,902 | 114,004 | |||
* | Signet Jewelers Ltd. | 1,402,095 | 113,275 | |||
* | TripAdvisor Inc. | 2,800,609 | 112,865 | |||
* | Shake Shack Inc. Class A | 1,054,535 | 112,856 | |||
* | Sabre Corp. | 9,011,810 | 112,467 | |||
* | Stitch Fix Inc. Class A | 1,828,486 | 110,258 | |||
* | Under Armour Inc. Class C | 5,889,040 | 109,359 |
Shares | Market Value ($000) | |||||
* | Under Armour Inc. Class A | 5,111,785 | 108,114 | |||
* | Avis Budget Group Inc. | 1,382,871 | 107,712 | |||
*,1 | QuantumScape Corp. Class A | 3,668,955 | 107,354 | |||
* | Overstock.com Inc. | 1,156,240 | 106,605 | |||
* | Cardlytics Inc. | 834,861 | 105,969 | |||
* | LGI Homes Inc. | 634,030 | 102,675 | |||
KB Home | 2,485,221 | 101,198 | ||||
* | Hilton Grand Vacations Inc. | 2,414,669 | 99,943 | |||
Cracker Barrel Old Country Store Inc. | 670,444 | 99,534 | ||||
* | Stamps.com Inc. | 491,846 | 98,512 | |||
Dana Inc. | 4,114,255 | 97,755 | ||||
Murphy USA Inc. | 723,979 | 96,557 | ||||
* | Visteon Corp. | 792,851 | 95,887 | |||
* | Meritage Homes Corp. | 1,018,348 | 95,806 | |||
* | Bed Bath & Beyond Inc. | 2,876,326 | 95,753 | |||
Warner Music Group Corp. Class A | 2,634,179 | 94,936 | ||||
Rent-A-Center Inc. | 1,773,550 | 94,122 | ||||
* | Asbury Automotive Group Inc. | 548,310 | 93,964 | |||
* | Spirit Airlines Inc. | 3,043,051 | 92,630 | |||
PROG Holdings Inc. | 1,920,364 | 92,427 | ||||
Steven Madden Ltd. | 2,112,035 | 92,423 | ||||
Columbia Sportswear Co. | 939,060 | 92,366 | ||||
Papa John's International Inc. | 879,469 | 91,852 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 1,964,664 | 91,514 | |||
* | Taylor Morrison Home Corp. Class A | 3,463,551 | 91,507 | |||
* | Madison Square Garden Sports Corp. | 527,991 | 91,115 | |||
LCI Industries | 678,091 | 89,115 | ||||
* | Six Flags Entertainment Corp. | 2,056,121 | 88,989 | |||
* | Leslie's Inc. | 3,190,709 | 87,713 | |||
* | Hyatt Hotels Corp. Class A | 1,109,223 | 86,120 | |||
*,1 | 2U Inc. | 2,001,367 | 83,397 | |||
* | Allegiant Travel Co. | 429,444 | 83,312 | |||
Kontoor Brands Inc. | 1,463,418 | 82,551 | ||||
* | Abercrombie & Fitch Co. Class A | 1,747,736 | 81,147 | |||
* | Coty Inc. Class A | 8,645,088 | 80,745 | |||
MDC Holdings Inc. | 1,592,079 | 80,559 | ||||
* | Dorman Products Inc. | 775,912 | 80,439 | |||
* | Brinker International Inc. | 1,293,946 | 80,031 | |||
*,1 | Fisker Inc. | 4,138,097 | 79,782 | |||
Herman Miller Inc. | 1,674,555 | 78,939 | ||||
Wolverine World Wide Inc. | 2,327,830 | 78,308 | ||||
* | Red Rock Resorts Inc. Class A | 1,808,637 | 76,867 | |||
* | Skyline Champion Corp. | 1,440,504 | 76,779 | |||
* | iHeartMedia Inc. Class A | 2,850,888 | 76,774 | |||
* | Academy Sports & Outdoors Inc. | 1,851,400 | 76,352 | |||
* | Vista Outdoor Inc. | 1,636,567 | 75,740 | |||
Group 1 Automotive Inc. | 488,638 | 75,460 | ||||
World Wrestling Entertainment Inc. Class A | 1,283,435 | 74,298 | ||||
* | iRobot Corp. | 793,651 | 74,119 | |||
* | Sleep Number Corp. | 658,212 | 72,370 | |||
* | SeaWorld Entertainment Inc. | 1,448,114 | 72,319 | |||
* | Cheesecake Factory Inc. | 1,332,905 | 72,217 | |||
* | Tri Pointe Homes Inc. | 3,345,675 | 71,698 | |||
John Wiley & Sons Inc. Class A | 1,188,418 | 71,519 | ||||
* | Sally Beauty Holdings Inc. | 3,204,627 | 70,726 | |||
* | Revolve Group Inc. Class A | 1,008,625 | 69,494 | |||
Graham Holdings Co. Class B | 108,647 | 68,871 | ||||
* | Boot Barn Holdings Inc. | 818,916 | 68,830 | |||
* | Urban Outfitters Inc. | 1,666,580 | 68,696 | |||
Penske Automotive Group Inc. | 907,565 | 68,512 | ||||
*,1 | Coursera Inc. | 1,721,903 | 68,118 |
Shares | Market Value ($000) | |||||
* | At Home Group Inc. | 1,843,775 | 67,925 | |||
* | Bloomin' Brands Inc. | 2,501,235 | 67,884 | |||
* | ODP Corp. | 1,393,688 | 66,911 | |||
* | Selectquote Inc. | 3,468,610 | 66,805 | |||
Jack in the Box Inc. | 599,342 | 66,791 | ||||
Big Lots Inc. | 994,278 | 65,632 | ||||
* | Gentherm Inc. | 915,963 | 65,079 | |||
Lennar Corp. Class B | 792,001 | 64,508 | ||||
*,1 | Cinemark Holdings Inc. | 2,856,019 | 62,690 | |||
* | KAR Auction Services Inc. | 3,531,732 | 61,982 | |||
* | Everi Holdings Inc. | 2,478,277 | 61,808 | |||
Winnebago Industries Inc. | 907,988 | 61,707 | ||||
Levi Strauss & Co. Class A | 2,209,438 | 61,246 | ||||
* | SkyWest Inc. | 1,421,163 | 61,209 | |||
PriceSmart Inc. | 659,203 | 59,994 | ||||
Rush Enterprises Inc. Class A | 1,353,390 | 58,521 | ||||
Monro Inc. | 908,236 | 57,682 | ||||
* | Lions Gate Entertainment Corp. Class B | 3,124,622 | 57,181 | |||
Century Communities Inc. | 846,197 | 56,306 | ||||
Gray Television Inc. | 2,378,226 | 55,650 | ||||
* | Cavco Industries Inc. | 243,741 | 54,157 | |||
* | WW International Inc. | 1,468,753 | 53,081 | |||
Strategic Education Inc. | 696,178 | 52,951 | ||||
* | AMC Networks Inc. Class A | 779,555 | 52,074 | |||
HNI Corp. | 1,177,645 | 51,781 | ||||
* | Knowles Corp. | 2,583,317 | 50,995 | |||
*,1 | Petco Health & Wellness Co. Inc. Class A | 2,250,800 | 50,440 | |||
Smith & Wesson Brands Inc. | 1,437,007 | 49,864 | ||||
* | Dave & Buster's Entertainment Inc. | 1,213,874 | 49,283 | |||
* | M/I Homes Inc. | 830,727 | 48,739 | |||
La-Z-Boy Inc. | 1,314,873 | 48,703 | ||||
Camping World Holdings Inc. Class A | 1,161,011 | 47,590 | ||||
* | Meredith Corp. | 1,094,125 | 47,529 | |||
* | Adtalem Global Education Inc. | 1,330,964 | 47,436 | |||
Acushnet Holdings Corp. | 938,240 | 46,349 | ||||
Sinclair Broadcast Group Inc. Class A | 1,376,232 | 45,718 | ||||
* | Central Garden & Pet Co. Class A | 930,706 | 44,953 | |||
Sturm Ruger & Co. Inc. | 496,980 | 44,718 | ||||
* | Tenneco Inc. Class A | 2,307,630 | 44,583 | |||
Oxford Industries Inc. | 449,444 | 44,423 | ||||
* | Madison Square Garden Entertainment Corp. | 528,572 | 44,384 | |||
* | Malibu Boats Inc. Class A | 582,960 | 42,748 | |||
* | Purple Innovation Inc. Class A | 1,598,400 | 42,214 | |||
* | Laureate Education Inc. Class A | 2,901,622 | 42,103 | |||
Buckle Inc. | 833,518 | 41,468 | ||||
*,1 | Blink Charging Co. | 1,006,872 | 41,453 | |||
* | Hibbett Inc. | 457,514 | 41,007 | |||
* | Dine Brands Global Inc. | 456,815 | 40,771 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 940,855 | 40,109 | |||
*,1 | Canoo Inc. | 4,014,558 | 39,905 | |||
* | Houghton Mifflin Harcourt Co. | 3,576,440 | 39,484 | |||
* | GoPro Inc. Class A | 3,360,923 | 39,155 | |||
* | XPEL Inc. | 466,253 | 39,105 | |||
* | G-III Apparel Group Ltd. | 1,168,642 | 38,402 | |||
Knoll Inc. | 1,432,904 | 37,241 | ||||
*,1 | Clean Energy Fuels Corp. | 3,656,758 | 37,116 | |||
* | Children's Place Inc. | 396,128 | 36,864 | |||
* | Stride Inc. | 1,117,437 | 35,903 | |||
*,1 | Lordstown Motors Corp. | 3,234,332 | 35,772 | |||
* | elf Beauty Inc. | 1,302,170 | 35,341 | |||
* | RealReal Inc. | 1,776,196 | 35,098 |
Shares | Market Value ($000) | |||||
Inter Parfums Inc. | 485,059 | 34,924 | ||||
* | Lions Gate Entertainment Corp. Class A | 1,649,184 | 34,138 | |||
Steelcase Inc. Class A | 2,234,753 | 33,767 | ||||
* | Hawaiian Holdings Inc. | 1,355,554 | 33,035 | |||
*,1 | Figs Inc. Class A | 652,673 | 32,699 | |||
* | American Axle & Manufacturing Holdings Inc. | 3,088,081 | 31,962 | |||
1 | Dillard's Inc. Class A | 176,209 | 31,873 | |||
EW Scripps Co. Class A | 1,554,570 | 31,698 | ||||
* | Tupperware Brands Corp. | 1,321,895 | 31,395 | |||
*,1 | Vuzix Corp. | 1,704,770 | 31,283 | |||
Aaron's Co. Inc. | 969,598 | 31,017 | ||||
Matthews International Corp. Class A | 861,228 | 30,970 | ||||
* | BJ's Restaurants Inc. | 618,185 | 30,378 | |||
* | MarineMax Inc. | 622,719 | 30,351 | |||
* | Zumiez Inc. | 603,440 | 29,563 | |||
* | Designer Brands Inc. Class A | 1,760,538 | 29,137 | |||
* | Driven Brands Holdings Inc. | 940,025 | 29,066 | |||
* | Lovesac Co. | 362,873 | 28,954 | |||
Guess? Inc. | 1,087,126 | 28,700 | ||||
Caleres Inc. | 1,035,189 | 28,250 | ||||
Franchise Group Inc. | 797,768 | 28,137 | ||||
*,1 | ContextLogic Inc. Class A | 2,135,066 | 28,119 | |||
* | Denny's Corp. | 1,697,501 | 27,992 | |||
* | Liberty Media Corp.-Liberty Braves Class C | 987,343 | 27,419 | |||
* | Angi Inc. Class A | 1,984,177 | 26,826 | |||
* | Viad Corp. | 537,765 | 26,808 | |||
Sonic Automotive Inc. Class A | 594,911 | 26,616 | ||||
* | Clear Channel Outdoor Holdings Inc. | 10,053,800 | 26,542 | |||
* | Party City Holdco Inc. | 2,816,945 | 26,282 | |||
*,1 | XL Fleet Corp. | 3,137,573 | 26,136 | |||
* | Cars.com Inc. | 1,818,461 | 26,059 | |||
* | Bally's Corp. | 481,535 | 26,056 | |||
*,1 | Corsair Gaming Inc. | 779,672 | 25,955 | |||
* | Genesco Inc. | 406,708 | 25,899 | |||
* | QuinStreet Inc. | 1,349,340 | 25,071 | |||
Interface Inc. Class A | 1,633,950 | 24,999 | ||||
* | 1-800-Flowers.com Inc. Class A | 770,904 | 24,569 | |||
* | Monarch Casino & Resort Inc. | 364,215 | 24,100 | |||
News Corp. Class B | 983,114 | 23,939 | ||||
* | America's Car-Mart Inc. | 166,563 | 23,605 | |||
* | Golden Entertainment Inc. | 525,379 | 23,537 | |||
* | Central Garden & Pet Co. | 444,224 | 23,513 | |||
* | Quotient Technology Inc. | 2,128,905 | 23,013 | |||
* | Arko Corp. | 2,479,596 | 22,787 | |||
Standard Motor Products Inc. | 524,648 | 22,743 | ||||
* | Perdoceo Education Corp. | 1,820,982 | 22,343 | |||
* | Citi Trends Inc. | 256,668 | 22,330 | |||
* | Chico's FAS Inc. | 3,316,349 | 21,822 | |||
* | Stoneridge Inc. | 732,480 | 21,608 | |||
*,1 | Latham Group Inc. | 671,803 | 21,471 | |||
* | Ruth's Hospitality Group Inc. | 928,503 | 21,383 | |||
* | Gannett Co. Inc. | 3,814,619 | 20,942 | |||
* | Sportsman's Warehouse Holdings Inc. | 1,174,785 | 20,876 | |||
* | Chuy's Holdings Inc. | 559,897 | 20,862 | |||
* | CarParts.com Inc. | 1,023,552 | 20,840 | |||
* | Accel Entertainment Inc. Class A | 1,695,846 | 20,130 | |||
* | Green Brick Partners Inc. | 857,383 | 19,497 | |||
* | Liquidity Services Inc. | 739,638 | 18,824 | |||
* | Fossil Group Inc. | 1,317,998 | 18,821 | |||
*,1 | Poshmark Inc. Class A | 391,002 | 18,666 | |||
Haverty Furniture Cos. Inc. | 430,364 | 18,402 |
Shares | Market Value ($000) | |||||
* | Sun Country Airlines Holdings Inc. | 486,640 | 18,011 | |||
Clarus Corp. | 694,721 | 17,854 | ||||
Scholastic Corp. | 467,178 | 17,701 | ||||
*,1 | Cricut Inc. Class A | 409,810 | 17,458 | |||
* | Rush Street Interactive Inc. | 1,411,105 | 17,300 | |||
Carriage Services Inc. Class A | 465,881 | 17,224 | ||||
Global Industrial Co. | 467,792 | 17,173 | ||||
* | Thryv Holdings Inc. | 478,211 | 17,106 | |||
* | Lands' End Inc. | 414,709 | 17,024 | |||
Johnson Outdoors Inc. Class A | 139,074 | 16,828 | ||||
Shoe Carnival Inc. | 227,792 | 16,308 | ||||
Ethan Allen Interiors Inc. | 587,494 | 16,215 | ||||
* | VistaGen Therapeutics Inc. | 5,096,657 | 16,054 | |||
* | Vizio Holding Corp. Class A | 594,289 | 16,052 | |||
* | Lumber Liquidators Holdings Inc. | 759,502 | 16,025 | |||
* | Beazer Homes USA Inc. | 829,881 | 16,008 | |||
* | Frontier Group Holdings Inc. | 909,976 | 15,506 | |||
1 | Big 5 Sporting Goods Corp. | 596,371 | 15,315 | |||
* | Universal Electronics Inc. | 313,610 | 15,210 | |||
RCI Hospitality Holdings Inc. | 225,538 | 14,931 | ||||
*,1 | Golden Nugget Online Gaming Inc. | 1,165,903 | 14,877 | |||
*,1 | Genius Brands International Inc. | 8,042,081 | 14,797 | |||
* | Noodles & Co. Class A | 1,185,367 | 14,793 | |||
*,1 | Eastman Kodak Co. | 1,771,630 | 14,740 | |||
* | Arlo Technologies Inc. | 2,157,183 | 14,604 | |||
Winmark Corp. | 74,865 | 14,380 | ||||
Movado Group Inc. | 448,953 | 14,129 | ||||
* | Red Robin Gourmet Burgers Inc. | 425,651 | 14,093 | |||
*,1 | Nautilus Inc. | 829,380 | 13,975 | |||
* | Entercom Communications Corp. Class A | 3,217,136 | 13,866 | |||
* | Boston Omaha Corp. Class A | 436,709 | 13,848 | |||
* | Turtle Beach Corp. | 430,300 | 13,735 | |||
* | MSG Networks Inc. Class A | 940,795 | 13,717 | |||
* | American Outdoor Brands Inc. | 389,198 | 13,676 | |||
* | MasterCraft Boat Holdings Inc. | 518,648 | 13,635 | |||
* | Lindblad Expeditions Holdings Inc. | 851,258 | 13,629 | |||
*,1 | Marcus Corp. | 640,475 | 13,584 | |||
* | American Public Education Inc. | 477,462 | 13,531 | |||
* | Cooper-Standard Holdings Inc. | 465,848 | 13,510 | |||
*,1 | Funko Inc. Class A | 632,450 | 13,459 | |||
Kimball International Inc. Class B | 1,020,161 | 13,415 | ||||
* | Hovnanian Enterprises Inc. Class A | 125,575 | 13,347 | |||
*,1 | Arcimoto Inc. | 756,712 | 13,008 | |||
* | ACV Auctions Inc. Class A | 505,331 | 12,952 | |||
*,1 | Dream Finders Homes Inc. Class A | 504,839 | 12,333 | |||
* | Motorcar Parts of America Inc. | 546,215 | 12,257 | |||
*,1 | ThredUp Inc. Class A | 401,638 | 11,680 | |||
*,1 | CarLotz Inc. | 2,115,206 | 11,549 | |||
Hooker Furniture Corp. | 333,354 | 11,547 | ||||
* | Express Inc. | 1,746,229 | 11,333 | |||
Rocky Brands Inc. | 202,765 | 11,274 | ||||
*,1 | Shift Technologies Inc. | 1,301,145 | 11,164 | |||
A-Mark Precious Metals Inc. | 238,900 | 11,109 | ||||
* | Century Casinos Inc. | 793,927 | 10,662 | |||
*,1 | HyreCar Inc. | 506,771 | 10,602 | |||
* | TravelCenters of America Inc. | 362,440 | 10,598 | |||
OneWater Marine Inc. Class A | 251,744 | 10,581 | ||||
*,1 | MDC Partners Inc. Class A | 1,801,805 | 10,541 | |||
Del Taco Restaurants Inc. | 1,048,799 | 10,498 | ||||
Tilly's Inc. Class A | 656,557 | 10,492 | ||||
* | Container Store Group Inc. | 783,316 | 10,214 |
Shares | Market Value ($000) | |||||
* | El Pollo Loco Holdings Inc. | 545,592 | 9,979 | |||
Entravision Communications Corp. Class A | 1,487,248 | 9,935 | ||||
*,1 | CuriosityStream Inc. | 728,240 | 9,933 | |||
*,1 | Liberty Media Corp.-Liberty Braves Class A | 342,950 | 9,678 | |||
Cato Corp. Class A | 536,076 | 9,044 | ||||
* | Liberty TripAdvisor Holdings Inc. Class A | 2,188,991 | 8,909 | |||
* | Vera Bradley Inc. | 704,855 | 8,733 | |||
*,1 | Full House Resorts Inc. | 855,457 | 8,503 | |||
National CineMedia Inc. | 1,675,457 | 8,495 | ||||
* | Mesa Air Group Inc. | 905,936 | 8,452 | |||
*,1 | Kirkland's Inc. | 368,352 | 8,428 | |||
* | PlayAGS Inc. | 836,774 | 8,284 | |||
Superior Group of Cos. Inc. | 329,021 | 7,867 | ||||
* | Drive Shack Inc. | 2,360,420 | 7,813 | |||
* | Daily Journal Corp. | 22,215 | 7,520 | |||
* | Barnes & Noble Education Inc. | 1,030,027 | 7,426 | |||
* | Conn's Inc. | 286,215 | 7,298 | |||
Flexsteel Industries Inc. | 176,716 | 7,138 | ||||
* | Duluth Holdings Inc. Class B | 344,208 | 7,108 | |||
* | Alta Equipment Group Inc. | 531,233 | 7,060 | |||
* | Bluegreen Vacations Holding Corp. Class A | 388,496 | 6,993 | |||
*,1 | LiveXLive Media Inc. | 1,459,913 | 6,891 | |||
* | Cumulus Media Inc. Class A | 469,052 | 6,872 | |||
*,1 | Aterian Inc. | 465,244 | 6,807 | |||
* | Fiesta Restaurant Group Inc. | 502,700 | 6,751 | |||
*,1 | Chicken Soup For The Soul Entertainment Inc. Class A | 157,648 | 6,527 | |||
Bassett Furniture Industries Inc. | 264,341 | 6,437 | ||||
* | Build-A-Bear Workshop Inc. | 370,547 | 6,414 | |||
*,1 | ONE Group Hospitality Inc. | 556,732 | 6,135 | |||
* | Carrols Restaurant Group Inc. | 1,008,721 | 6,062 | |||
* | Regis Corp. | 645,733 | 6,044 | |||
* | VOXX International Corp. Class A | 421,571 | 5,906 | |||
* | Universal Technical Institute Inc. | 895,668 | 5,813 | |||
* | Lincoln Educational Services Corp. | 740,170 | 5,759 | |||
1 | Hall of Fame Resort & Entertainment Co. | 1,463,254 | 5,751 | |||
Lifetime Brands Inc. | 370,500 | 5,546 | ||||
JOANN Inc. | 348,525 | 5,489 | ||||
Escalade Inc. | 236,395 | 5,425 | ||||
* | Superior Industries International Inc. | 607,533 | 5,237 | |||
*,1 | Ondas Holdings Inc. | 658,052 | 5,225 | |||
* | Delta Apparel Inc. | 176,930 | 5,223 | |||
* | Strattec Security Corp. | 115,441 | 5,132 | |||
Hamilton Beach Brands Holding Co. Class A | 228,418 | 5,087 | ||||
* | Luby's Inc. | 1,300,764 | 4,995 | |||
* | Casper Sleep Inc. | 595,766 | 4,909 | |||
* | Lakeland Industries Inc. | 219,794 | 4,908 | |||
* | Potbelly Corp. | 597,189 | 4,718 | |||
* | Townsquare Media Inc. Class A | 368,555 | 4,699 | |||
Nathan's Famous Inc. | 64,365 | 4,591 | ||||
*,1 | AYRO Inc. | 890,400 | 4,345 | |||
* | Emerald Holding Inc. | 803,929 | 4,333 | |||
*,1 | Lazydays Holdings Inc. | 194,700 | 4,283 | |||
*,1 | Aspen Group Inc. | 638,205 | 4,161 | |||
* | iMedia Brands Inc. | 512,547 | 4,126 | |||
* | Urban One Inc. | 817,509 | 4,104 | |||
* | Lee Enterprises Inc. | 144,549 | 4,091 | |||
*,1 | Gaia Inc. Class A | 367,120 | 4,035 | |||
* | J Alexander's Holdings Inc. Class A | 334,360 | 3,892 | |||
* | RumbleON Inc. Class B | 90,880 | 3,678 | |||
* | Reading International Inc. Class A | 526,251 | 3,668 | |||
* | Tuesday Morning Corp. | 808,565 | 3,639 |
Shares | Market Value ($000) | |||||
*,1 | BurgerFi International Inc. | 362,452 | 3,625 | |||
*,1 | LMP Automotive Holdings Inc. | 210,500 | 3,578 | |||
Acme United Corp. | 75,799 | 3,378 | ||||
* | Biglari Holdings Inc. Class A | 4,329 | 3,372 | |||
Weyco Group Inc. | 150,204 | 3,360 | ||||
Rush Enterprises Inc. Class B | 87,512 | 3,338 | ||||
* | Legacy Housing Corp. | 195,427 | 3,305 | |||
*,1 | SRAX Inc. Class A | 590,641 | 3,213 | |||
* | Kura Sushi USA Inc. Class A | 84,122 | 3,197 | |||
Marine Products Corp. | 203,641 | 3,144 | ||||
* | Fluent Inc. | 1,044,001 | 3,059 | |||
* | Travelzoo | 202,796 | 2,993 | |||
*,1 | Revlon Inc. Class A | 213,038 | 2,735 | |||
Saga Communications Inc. Class A | 120,553 | 2,610 | ||||
*,1 | Vinco Ventures Inc. | 643,569 | 2,542 | |||
Educational Development Corp. | 202,122 | 2,520 | ||||
* | BBQ Holdings Inc. | 121,470 | 2,305 | |||
*,1 | Koss Corp. | 96,300 | 2,236 | |||
Wayside Technology Group Inc. | 88,277 | 2,210 | ||||
* | Landsea Homes Corp. | 258,755 | 2,166 | |||
* | Zovio Inc. Class A | 826,876 | 2,142 | |||
*,1 | Live Ventures Inc. | 34,110 | 2,101 | |||
* | Biglari Holdings Inc. Class B | 12,594 | 2,008 | |||
*,1 | Envela Corp. | 416,000 | 1,997 | |||
* | Motorsport Games Inc. Class A | 138,137 | 1,934 | |||
* | Charles & Colvard Ltd. | 609,632 | 1,817 | |||
* | Marchex Inc. Class B | 545,794 | 1,670 | |||
*,1 | Esports Technologies Inc. | 71,959 | 1,515 | |||
* | J. Jill Inc. | 76,597 | 1,510 | |||
*,1 | Auddia Inc. | 264,100 | 1,490 | |||
* | Mister Car Wash Inc. | 67,912 | 1,462 | |||
* | Good Times Restaurants Inc. | 350,735 | 1,434 | |||
* | Kewaunee Scientific Corp. | 97,556 | 1,404 | |||
*,1 | Dolphin Entertainment Inc. | 147,246 | 1,375 | |||
* | New Home Co. Inc. | 226,301 | 1,328 | |||
DallasNews Corp. | 176,509 | 1,313 | ||||
* | FlexShopper Inc. | 424,874 | 1,262 | |||
Crown Crafts Inc. | 161,982 | 1,226 | ||||
* | StoneMor Inc. | 431,538 | 1,131 | |||
*,1 | Monaker Group Inc. | 467,097 | 1,046 | |||
* | Endeavor Group Holdings Inc. Class A | 34,966 | 969 | |||
* | Eastside Distilling Inc. | 341,735 | 960 | |||
* | Beasley Broadcast Group Inc. Class A | 314,277 | 908 | |||
* | Vince Holding Corp. | 85,346 | 862 | |||
*,1 | Applied UV Inc. | 85,989 | 844 | |||
* | Ark Restaurants Corp. | 42,422 | 838 | |||
* | PARTS iD Inc. | 138,518 | 837 | |||
* | Amesite Inc. | 292,757 | 805 | |||
* | JAKKS Pacific Inc. | 72,537 | 798 | |||
CompX International Inc. | 36,927 | 767 | ||||
* | Bowl America Inc. Class A | 85,200 | 751 | |||
* | Integral Ad Science Holding Corp. | 33,955 | 699 | |||
*,1 | Allied Esports Entertainment Inc. | 298,452 | 686 | |||
*,1 | Muscle Maker Inc. | 487,573 | 683 | |||
*,1 | Universal Security Instruments Inc. | 74,733 | 628 | |||
*,1 | Kaspien Holdings Inc. | 23,778 | 578 | |||
* | Salem Media Group Inc. Class A | 220,213 | 562 | |||
* | Canterbury Park Holding Corp. | 35,605 | 533 | |||
*,1 | Urban One Inc. Class A | 60,200 | 522 | |||
NL Industries Inc. | 74,466 | 484 | ||||
* | Xcel Brands Inc. | 151,456 | 453 |
Shares | Market Value ($000) | |||||
* | InterGroup Corp. | 9,638 | 432 | |||
*,1 | Forward Industries Inc. | 144,468 | 428 | |||
FAT Brands Inc. | 26,359 | 385 | ||||
* | Unique Fabricating Inc. | 79,983 | 296 | |||
Jerash Holdings US Inc. | 41,854 | 282 | ||||
* | Mediaco Holding Inc. Class A | 67,571 | 243 | |||
*,1 | Sequential Brands Group Inc. | 21,522 | 184 | |||
* | Flanigan's Enterprises Inc. | 3,658 | 147 | |||
* | Dixie Group Inc. | 40,323 | 118 | |||
Dover Motorsports Inc. | 37,667 | 85 | ||||
* | Troika Media Group Inc. | 28,500 | 81 | |||
* | Virco Manufacturing Corp. | 8,350 | 28 | |||
*,1,2 | SRAX Inc. Rights | 148,260 | 27 | |||
* | Summer Infant Inc. | 522 | 7 | |||
199,945,327 | ||||||
Consumer Staples (4.70%) | ||||||
Procter & Gamble Co. | 69,141,796 | 9,329,303 | ||||
Coca-Cola Co. | 109,606,018 | 5,930,782 | ||||
PepsiCo Inc. | 39,024,187 | 5,782,214 | ||||
Philip Morris International Inc. | 44,025,291 | 4,363,347 | ||||
CVS Health Corp. | 37,189,127 | 3,103,061 | ||||
Altria Group Inc. | 52,280,775 | 2,492,747 | ||||
Mondelez International Inc. Class A | 39,676,560 | 2,477,404 | ||||
Colgate-Palmolive Co. | 23,888,902 | 1,943,362 | ||||
Kimberly-Clark Corp. | 9,531,327 | 1,275,101 | ||||
Walgreens Boots Alliance Inc. | 20,754,525 | 1,091,896 | ||||
Constellation Brands Inc. Class A | 4,566,749 | 1,068,117 | ||||
Sysco Corp. | 13,727,858 | 1,067,341 | ||||
General Mills Inc. | 17,242,463 | 1,050,583 | ||||
Archer-Daniels-Midland Co. | 15,786,904 | 956,686 | ||||
* | Monster Beverage Corp. | 10,454,770 | 955,043 | |||
Corteva Inc. | 20,853,939 | 924,872 | ||||
McKesson Corp. | 4,458,949 | 852,729 | ||||
Kraft Heinz Co. | 18,955,545 | 773,007 | ||||
Kroger Co. | 19,257,280 | 737,746 | ||||
Brown-Forman Corp. Class B | 9,703,228 | 727,160 | ||||
Hershey Co. | 4,136,023 | 720,412 | ||||
Keurig Dr Pepper Inc. | 20,026,540 | 705,735 | ||||
Clorox Co. | 3,516,102 | 632,582 | ||||
McCormick & Co. Inc. (Non-Voting) | 7,037,818 | 621,580 | ||||
Tyson Foods Inc. Class A | 8,329,064 | 614,352 | ||||
Church & Dwight Co. Inc. | 6,932,284 | 590,769 | ||||
Conagra Brands Inc. | 13,477,080 | 490,296 | ||||
AmerisourceBergen Corp. | 4,065,008 | 465,403 | ||||
Kellogg Co. | 7,225,505 | 464,817 | ||||
J M Smucker Co. | 2,942,817 | 381,301 | ||||
Hormel Foods Corp. | 7,640,566 | 364,837 | ||||
Lamb Weston Holdings Inc. | 4,133,986 | 333,447 | ||||
* | Darling Ingredients Inc. | 4,608,294 | 311,060 | |||
Bunge Ltd. | 3,800,373 | 296,999 | ||||
* | Molson Coors Beverage Co. Class B | 5,101,400 | 273,894 | |||
* | Boston Beer Co. Inc. Class A | 257,151 | 262,500 | |||
Campbell Soup Co. | 5,569,670 | 253,921 | ||||
*,1 | Beyond Meat Inc. | 1,513,415 | 238,348 | |||
* | US Foods Holding Corp. | 5,642,018 | 216,428 | |||
Casey's General Stores Inc. | 1,043,950 | 203,194 | ||||
* | Freshpet Inc. | 1,161,695 | 189,310 | |||
* | Performance Food Group Co. | 3,781,206 | 183,351 | |||
* | Post Holdings Inc. | 1,618,394 | 175,547 | |||
Ingredion Inc. | 1,798,957 | 162,806 | ||||
* | Herbalife Nutrition Ltd. | 2,989,701 | 157,647 |
Shares | Market Value ($000) | |||||
Flowers Foods Inc. | 5,379,914 | 130,194 | ||||
Sanderson Farms Inc. | 569,088 | 106,971 | ||||
Lancaster Colony Corp. | 545,560 | 105,571 | ||||
WD-40 Co. | 388,859 | 99,661 | ||||
Spectrum Brands Holdings Inc. | 1,150,676 | 97,854 | ||||
* | Hain Celestial Group Inc. | 2,410,430 | 96,706 | |||
Medifast Inc. | 317,528 | 89,854 | ||||
* | Simply Good Foods Co. | 2,447,630 | 89,363 | |||
* | Grocery Outlet Holding Corp. | 2,413,913 | 83,666 | |||
* | Sprouts Farmers Market Inc. | 3,355,616 | 83,387 | |||
Energizer Holdings Inc. | 1,934,965 | 83,165 | ||||
Nu Skin Enterprises Inc. Class A | 1,419,762 | 80,430 | ||||
Primo Water Corp. | 4,357,671 | 72,904 | ||||
* | TreeHouse Foods Inc. | 1,599,741 | 71,220 | |||
J & J Snack Foods Corp. | 405,205 | 70,672 | ||||
* | GrowGeneration Corp. | 1,410,361 | 67,838 | |||
Edgewell Personal Care Co. | 1,540,009 | 67,606 | ||||
* | Celsius Holdings Inc. | 830,043 | 63,158 | |||
1 | B&G Foods Inc. | 1,835,159 | 60,193 | |||
* | United Natural Foods Inc. | 1,602,463 | 59,259 | |||
Core-Mark Holding Co. Inc. | 1,274,406 | 57,361 | ||||
* | Hostess Brands Inc. Class A | 3,458,703 | 55,996 | |||
Coca-Cola Consolidated Inc. | 131,612 | 52,925 | ||||
Vector Group Ltd. | 3,725,788 | 52,683 | ||||
Reynolds Consumer Products Inc. | 1,471,304 | 44,654 | ||||
Cal-Maine Foods Inc. | 1,123,464 | 40,681 | ||||
Utz Brands Inc. | 1,845,883 | 40,222 | ||||
*,1 | Hydrofarm Holdings Group Inc. | 673,469 | 39,809 | |||
* | Beauty Health Co. | 2,289,015 | 38,455 | |||
Universal Corp. | 639,819 | 36,451 | ||||
* | USANA Health Sciences Inc. | 342,547 | 35,087 | |||
* | BellRing Brands Inc. Class A | 1,114,944 | 34,942 | |||
Fresh Del Monte Produce Inc. | 980,246 | 32,231 | ||||
1 | National Beverage Corp. | 656,239 | 30,994 | |||
* | Pilgrim's Pride Corp. | 1,363,322 | 30,238 | |||
* | Chefs' Warehouse Inc. | 903,974 | 28,774 | |||
Calavo Growers Inc. | 435,658 | 27,629 | ||||
*,1 | AppHarvest Inc. | 1,678,855 | 26,862 | |||
Andersons Inc. | 843,606 | 25,755 | ||||
Seaboard Corp. | 6,610 | 25,572 | ||||
MGP Ingredients Inc. | 364,952 | 24,685 | ||||
*,1 | Tattooed Chef Inc. | 1,140,168 | 24,457 | |||
*,1 | Rite Aid Corp. | 1,480,806 | 24,137 | |||
Weis Markets Inc. | 448,525 | 23,171 | ||||
Ingles Markets Inc. Class A | 394,127 | 22,966 | ||||
ACCO Brands Corp. | 2,590,479 | 22,356 | ||||
*,1 | PLBY Group Inc. | 547,837 | 21,305 | |||
John B Sanfilippo & Son Inc. | 237,984 | 21,078 | ||||
Turning Point Brands Inc. | 426,050 | 19,500 | ||||
*,1 | 22nd Century Group Inc. | 4,086,876 | 18,922 | |||
SpartanNash Co. | 951,050 | 18,365 | ||||
*,1 | Mission Produce Inc. | 883,584 | 18,299 | |||
1 | PetMed Express Inc. | 539,909 | 17,196 | |||
Nature's Sunshine Products Inc. | 989,399 | 17,186 | ||||
1 | Tootsie Roll Industries Inc. | 446,678 | 15,147 | |||
* | Whole Earth Brands Inc. | 1,036,462 | 15,029 | |||
* | Veru Inc. | 1,769,505 | 14,280 | |||
*,1 | Honest Co. Inc. | 767,741 | 12,430 | |||
* | Duckhorn Portfolio Inc. | 486,413 | 10,730 | |||
Brown-Forman Corp. Class A | 148,780 | 10,489 | ||||
*,1 | Vital Farms Inc. | 520,033 | 10,380 |
Shares | Market Value ($000) | |||||
* | Landec Corp. | 835,266 | 9,397 | |||
*,1 | MedAvail Holdings Inc. | 752,474 | 9,218 | |||
Limoneira Co. | 519,742 | 9,121 | ||||
* | Seneca Foods Corp. Class A | 178,374 | 9,111 | |||
* | NewAge Inc. | 3,817,545 | 8,513 | |||
Oil-Dri Corp. of America | 192,881 | 6,593 | ||||
*,1 | HF Foods Group Inc. | 1,087,129 | 5,751 | |||
*,1 | AquaBounty Technologies Inc. | 1,015,881 | 5,445 | |||
*,1 | Laird Superfood Inc. | 177,625 | 5,306 | |||
* | Farmer Bros Co. | 414,798 | 5,264 | |||
*,1 | LifeMD Inc. | 439,707 | 5,180 | |||
Village Super Market Inc. Class A | 219,324 | 5,156 | ||||
Alico Inc. | 134,556 | 4,790 | ||||
* | Lifevantage Corp. | 581,331 | 4,273 | |||
* | Natural Alternatives International Inc. | 203,132 | 3,441 | |||
Natural Grocers by Vitamin Cottage Inc. | 305,806 | 3,284 | ||||
*,1 | Alkaline Water Co. Inc. | 1,927,828 | 2,950 | |||
* | Reed's Inc. | 2,528,703 | 2,579 | |||
*,1 | Blue Apron Holdings Inc. Class A | 495,637 | 2,121 | |||
*,1 | Greenlane Holdings Inc. Class A | 448,477 | 2,005 | |||
* | S&W Seed Co. | 520,210 | 1,894 | |||
* | Urban-Gro Inc. | 189,828 | 1,741 | |||
Ocean Bio-Chem Inc. | 124,424 | 1,518 | ||||
* | Willamette Valley Vineyards Inc. | 109,229 | 1,494 | |||
*,1 | Arcadia Biosciences Inc. | 482,710 | 1,434 | |||
*,1 | Bridgford Foods Corp. | 103,783 | 1,365 | |||
* | Calyxt Inc. | 333,559 | 1,341 | |||
* | Rocky Mountain Chocolate Factory Inc. | 162,623 | 1,241 | |||
* | Coffee Holding Co. Inc. | 230,234 | 1,236 | |||
AMCON Distributing Co. | 6,102 | 934 | ||||
Mannatech Inc. | 30,933 | 854 | ||||
* | Nuzee Inc. | 236,402 | 745 | |||
* | RiceBran Technologies | 560,464 | 633 | |||
* | Lifeway Foods Inc. | 45,393 | 235 | |||
* | Ifresh Inc. | 23,811 | 34 | |||
* | ESC Co. | 609,806 | — | |||
59,158,335 | ||||||
Energy (2.92%) | ||||||
Exxon Mobil Corp. | 119,579,282 | 7,543,061 | ||||
Chevron Corp. | 54,559,393 | 5,714,551 | ||||
ConocoPhillips | 38,120,053 | 2,321,511 | ||||
EOG Resources Inc. | 16,487,744 | 1,375,737 | ||||
Schlumberger NV | 39,508,210 | 1,264,658 | ||||
Marathon Petroleum Corp. | 18,435,700 | 1,113,885 | ||||
Phillips 66 | 12,369,574 | 1,061,557 | ||||
Pioneer Natural Resources Co. | 6,196,391 | 1,007,037 | ||||
Kinder Morgan Inc. | 54,369,513 | 991,156 | ||||
Valero Energy Corp. | 11,546,718 | 901,568 | ||||
Occidental Petroleum Corp. | 25,058,915 | 783,592 | ||||
Williams Cos. Inc. | 28,311,378 | 751,667 | ||||
ONEOK Inc. | 12,586,912 | 700,336 | ||||
Hess Corp. | 7,844,789 | 685,007 | ||||
* | Enphase Energy Inc. | 3,448,761 | 633,296 | |||
* | Cheniere Energy Inc. | 6,448,105 | 559,309 | |||
Devon Energy Corp. | 19,124,884 | 558,255 | ||||
Halliburton Co. | 23,894,757 | 552,447 | ||||
* | Plug Power Inc. | 16,050,619 | 548,771 | |||
Diamondback Energy Inc. | 5,114,678 | 480,217 | ||||
Baker Hughes Co. | 20,731,199 | 474,123 | ||||
Marathon Oil Corp. | 22,281,636 | 303,476 | ||||
Targa Resources Corp. | 6,460,705 | 287,178 |
Shares | Market Value ($000) | |||||
Texas Pacific Land Corp. | 175,118 | 280,143 | ||||
* | First Solar Inc. | 2,704,486 | 244,783 | |||
Ovintiv Inc. | 7,381,384 | 232,292 | ||||
APA Corp. | 10,684,492 | 231,106 | ||||
Cimarex Energy Co. | 2,897,979 | 209,959 | ||||
Cabot Oil & Gas Corp. | 11,302,419 | 197,340 | ||||
* | EQT Corp. | 7,890,803 | 175,649 | |||
* | NOV Inc. | 11,048,837 | 169,268 | |||
* | ChampionX Corp. | 5,701,338 | 146,239 | |||
1 | Chesapeake Energy Corp. | 2,755,487 | 143,065 | |||
HollyFrontier Corp. | 4,133,174 | 135,981 | ||||
PDC Energy Inc. | 2,753,161 | 126,067 | ||||
*,1 | ChargePoint Holdings Inc. | 3,522,557 | 122,374 | |||
*,1 | Stem Inc. | 3,194,419 | 115,031 | |||
* | Range Resources Corp. | 6,608,068 | 110,751 | |||
* | Antero Resources Corp. | 7,255,406 | 109,049 | |||
* | Southwestern Energy Co. | 19,160,804 | 108,642 | |||
Matador Resources Co. | 2,976,549 | 107,186 | ||||
* | Denbury Inc. | 1,338,984 | 102,807 | |||
Equitrans Midstream Corp. | 11,626,229 | 98,939 | ||||
Murphy Oil Corp. | 4,158,690 | 96,814 | ||||
Antero Midstream Corp. | 8,810,445 | 91,541 | ||||
Helmerich & Payne Inc. | 2,752,168 | 89,803 | ||||
* | Shoals Technologies Group Inc. Class A | 2,506,193 | 88,970 | |||
New Fortress Energy Inc. Class A | 2,333,672 | 88,399 | ||||
SM Energy Co. | 3,327,205 | 81,949 | ||||
Arcosa Inc. | 1,368,880 | 80,408 | ||||
* | Renewable Energy Group Inc. | 1,277,958 | 79,668 | |||
1 | Continental Resources Inc. | 2,065,547 | 78,553 | |||
* | FuelCell Energy Inc. | 8,654,290 | 77,023 | |||
*,1 | Transocean Ltd. | 16,658,952 | 75,298 | |||
* | CNX Resources Corp. | 5,273,882 | 72,041 | |||
*,1 | SunPower Corp. | 2,431,918 | 71,061 | |||
*,1 | Callon Petroleum Co. | 1,117,270 | 64,455 | |||
* | California Resources Corp. | 2,112,256 | 63,663 | |||
* | Magnolia Oil & Gas Corp. Class A | 3,711,545 | 58,011 | |||
Cactus Inc. Class A | 1,530,115 | 56,186 | ||||
* | Array Technologies Inc. | 3,582,198 | 55,882 | |||
World Fuel Services Corp. | 1,696,527 | 53,831 | ||||
Core Laboratories NV | 1,299,780 | 50,626 | ||||
Patterson-UTI Energy Inc. | 5,066,291 | 50,359 | ||||
* | Ameresco Inc. Class A | 799,676 | 50,156 | |||
* | TPI Composites Inc. | 981,646 | 47,531 | |||
* | Oceaneering International Inc. | 2,792,091 | 43,473 | |||
* | PBF Energy Inc. Class A | 2,730,369 | 41,775 | |||
* | Liberty Oilfield Services Inc. Class A | 2,898,566 | 41,044 | |||
Delek US Holdings Inc. | 1,891,116 | 40,886 | ||||
Bonanza Creek Energy Inc. | 864,394 | 40,687 | ||||
*,1 | Tellurian Inc. | 8,669,286 | 40,312 | |||
* | Green Plains Inc. | 1,193,274 | 40,118 | |||
*,1 | Gevo Inc. | 5,274,955 | 38,349 | |||
Archrock Inc. | 4,271,166 | 38,056 | ||||
*,1 | Centennial Resource Development Inc. Class A | 5,142,222 | 34,864 | |||
* | Dril-Quip Inc. | 1,010,506 | 34,185 | |||
* | Weatherford International plc | 1,878,317 | 34,185 | |||
* | Laredo Petroleum Inc. | 345,120 | 32,024 | |||
* | DMC Global Inc. | 530,271 | 29,807 | |||
* | NOW Inc. | 3,116,908 | 29,579 | |||
1 | Northern Oil & Gas Inc. | 1,393,031 | 28,933 | |||
Brigham Minerals Inc. Class A | 1,222,846 | 26,034 | ||||
Warrior Met Coal Inc. | 1,433,239 | 24,652 |
Shares | Market Value ($000) | |||||
* | Extraction Oil & Gas Inc. | 431,297 | 23,683 | |||
* | Arch Resources Inc. | 408,145 | 23,256 | |||
* | NexTier Oilfield Solutions Inc. | 4,834,539 | 23,012 | |||
* | Helix Energy Solutions Group Inc. | 3,979,724 | 22,724 | |||
* | ProPetro Holding Corp. | 2,439,424 | 22,345 | |||
* | Par Pacific Holdings Inc. | 1,263,166 | 21,246 | |||
* | MRC Global Inc. | 2,219,035 | 20,859 | |||
* | Nabors Industries Ltd. | 176,770 | 20,194 | |||
* | Talos Energy Inc. | 1,153,417 | 18,039 | |||
* | Bristow Group Inc. Class A | 676,311 | 17,320 | |||
SunCoke Energy Inc. | 2,366,469 | 16,897 | ||||
* | Peabody Energy Corp. | 1,964,682 | 15,580 | |||
CVR Energy Inc. | 854,707 | 15,351 | ||||
* | Contango Oil & Gas Co. | 3,481,306 | 15,039 | |||
* | TETRA Technologies Inc. | 3,295,150 | 14,301 | |||
* | REX American Resources Corp. | 158,424 | 14,287 | |||
* | CONSOL Energy Inc. | 734,922 | 13,574 | |||
* | Comstock Resources Inc. | 1,994,090 | 13,301 | |||
* | Tidewater Inc. | 1,080,375 | 13,019 | |||
* | W&T Offshore Inc. | 2,681,269 | 13,004 | |||
* | Oil States International Inc. | 1,623,137 | 12,742 | |||
Berry Corp. | 1,839,614 | 12,362 | ||||
* | American Superconductor Corp. | 699,114 | 12,158 | |||
*,1 | Alto Ingredients Inc. | 1,949,722 | 11,913 | |||
* | Alpha Metallurgical Resources Inc. | 442,955 | 11,353 | |||
* | Select Energy Services Inc. Class A | 1,709,690 | 10,327 | |||
* | Penn Virginia Corp. | 429,524 | 10,141 | |||
* | FTS International Inc. Class A | 329,459 | 9,320 | |||
* | RPC Inc. | 1,861,517 | 9,215 | |||
*,1 | Advent Technologies Holdings Inc. | 929,000 | 8,956 | |||
*,1 | Vine Energy Inc. Class A | 567,711 | 8,851 | |||
*,1 | Beam Global | 225,246 | 8,629 | |||
* | Newpark Resources Inc. | 2,463,271 | 8,523 | |||
*,1 | Aemetis Inc. | 753,561 | 8,417 | |||
Solaris Oilfield Infrastructure Inc. Class A | 851,272 | 8,291 | ||||
*,1 | Sunworks Inc. | 763,200 | 8,021 | |||
*,1 | Centrus Energy Corp. Class A | 310,122 | 7,871 | |||
* | Matrix Service Co. | 741,752 | 7,788 | |||
* | Earthstone Energy Inc. Class A | 618,011 | 6,841 | |||
Altus Midstream Co. | 96,167 | 6,492 | ||||
*,1 | FTC Solar Inc. | 469,720 | 6,252 | |||
*,1 | Ring Energy Inc. | 2,079,191 | 6,196 | |||
*,1 | Orbital Energy Group Inc. | 1,335,228 | 5,835 | |||
* | SandRidge Energy Inc. | 919,342 | 5,773 | |||
* | VAALCO Energy Inc. | 1,744,200 | 5,669 | |||
* | Trecora Resources | 632,639 | 5,264 | |||
Falcon Minerals Corp. | 1,003,296 | 5,097 | ||||
* | Goodrich Petroleum Corp. | 334,016 | 4,987 | |||
*,1 | SilverBow Resources Inc. | 205,056 | 4,761 | |||
* | Amplify Energy Corp. | 1,102,676 | 4,466 | |||
* | Natural Gas Services Group Inc. | 394,956 | 4,060 | |||
Evolution Petroleum Corp. | 783,904 | 3,888 | ||||
NACCO Industries Inc. Class A | 144,802 | 3,771 | ||||
*,1 | Ocean Power Technologies Inc. | 1,435,000 | 3,588 | |||
* | NextDecade Corp. | 859,258 | 3,549 | |||
* | Exterran Corp. | 707,082 | 3,366 | |||
* | Flotek Industries Inc. | 1,909,932 | 3,304 | |||
* | Geospace Technologies Corp. | 384,794 | 3,113 | |||
PHX Minerals Inc. | 765,919 | 2,849 | ||||
* | Battalion Oil Corp. | 207,225 | 2,777 | |||
*,1 | American Resources Corp. Class A | 1,017,171 | 2,594 |
Shares | Market Value ($000) | |||||
* | SEACOR Marine Holdings Inc. | 506,645 | 2,234 | |||
* | Forum Energy Technologies Inc. | 89,830 | 2,109 | |||
* | Smart Sand Inc. | 618,477 | 2,060 | |||
*,1 | Ideal Power Inc. | 149,000 | 1,894 | |||
Adams Resources & Energy Inc. | 67,594 | 1,872 | ||||
* | Capstone Green Energy Corp. | 317,886 | 1,787 | |||
*,1 | KLX Energy Services Holdings Inc. | 186,397 | 1,780 | |||
* | Epsilon Energy Ltd. | 353,256 | 1,766 | |||
*,1 | iSun Inc. | 149,258 | 1,699 | |||
* | Gulf Island Fabrication Inc. | 371,790 | 1,680 | |||
* | Hallador Energy Co. | 578,821 | 1,560 | |||
* | Ranger Energy Services Inc. Class A | 179,415 | 1,435 | |||
* | Mammoth Energy Services Inc. | 306,944 | 1,409 | |||
* | US Well Services Inc. Class A | 1,272,929 | 1,286 | |||
*,1 | ION Geophysical Corp. | 614,995 | 1,285 | |||
* | Ramaco Resources Inc. | 233,281 | 1,283 | |||
* | Dawson Geophysical Co. | 420,259 | 1,097 | |||
* | PrimeEnergy Resources Corp. | 21,616 | 1,001 | |||
* | Nine Energy Service Inc. | 332,314 | 977 | |||
* | MIND Technology Inc. | 491,592 | 954 | |||
*,1 | New Concept Energy Inc. | 154,300 | 941 | |||
*,1 | Camber Energy Inc. | 1,111,600 | 732 | |||
*,1 | PEDEVCO Corp. | 460,492 | 732 | |||
* | Nabors Industries Ltd. Warrants Exp. 06/11/2026 | 70,676 | 707 | |||
* | Profire Energy Inc. | 598,052 | 676 | |||
* | Independence Contract Drilling Inc. | 129,345 | 555 | |||
*,1 | Abraxas Petroleum Corp. | 140,843 | 455 | |||
*,1 | Stabilis Solutions Inc. | 43,809 | 436 | |||
* | NCS Multistage Holdings Inc. | 5,982 | 182 | |||
* | Tidewater Inc. Class A Warrants Exp. 07/31/2023 | 8,839 | 11 | |||
* | Tidewater Inc. Class B Warrants Exp. 07/31/2023 | 9,555 | 9 | |||
*,1,2 | Harvest Natural Resources Inc. | 51,829 | — | |||
*,1 | FTS International Inc. Warrants Exp. 11/19/2023 | 22,671 | — | |||
36,713,262 | ||||||
Financials (11.13%) | ||||||
* | Berkshire Hathaway Inc. Class B | 48,902,808 | 13,591,068 | |||
JPMorgan Chase & Co. | 85,499,490 | 13,298,591 | ||||
Bank of America Corp. | 217,832,685 | 8,981,242 | ||||
Wells Fargo & Co. | 116,761,886 | 5,288,146 | ||||
Citigroup Inc. | 58,384,489 | 4,130,703 | ||||
Morgan Stanley | 42,044,618 | 3,855,071 | ||||
Goldman Sachs Group Inc. | 9,597,373 | 3,642,491 | ||||
BlackRock Inc. | 3,877,324 | 3,392,542 | ||||
Charles Schwab Corp. | 43,389,239 | 3,159,171 | ||||
S&P Global Inc. | 6,804,541 | 2,792,924 | ||||
PNC Financial Services Group Inc. | 12,000,558 | 2,289,226 | ||||
US Bancorp | 37,868,200 | 2,157,351 | ||||
CME Group Inc. | 10,143,630 | 2,157,347 | ||||
Truist Financial Corp. | 37,987,999 | 2,108,334 | ||||
Marsh & McLennan Cos. Inc. | 14,390,095 | 2,024,399 | ||||
Intercontinental Exchange Inc. | 15,895,325 | 1,886,775 | ||||
Blackstone Group Inc. | 19,326,505 | 1,877,377 | ||||
Chubb Ltd. | 10,797,386 | 1,716,137 | ||||
Moody's Corp. | 4,495,068 | 1,628,878 | ||||
Progressive Corp. | 16,531,024 | 1,623,512 | ||||
Aon plc Class A | 6,055,919 | 1,445,911 | ||||
T. Rowe Price Group Inc. | 6,408,880 | 1,268,766 | ||||
MSCI Inc. | 2,212,297 | 1,179,331 | ||||
American International Group Inc. | 24,246,254 | 1,154,122 | ||||
Prudential Financial Inc. | 11,129,523 | 1,140,442 | ||||
Bank of New York Mellon Corp. | 22,259,735 | 1,140,366 |
Shares | Market Value ($000) | |||||
MetLife Inc. | 18,548,511 | 1,110,128 | ||||
Allstate Corp. | 8,433,608 | 1,100,080 | ||||
Travelers Cos. Inc. | 7,104,349 | 1,063,592 | ||||
Discover Financial Services | 8,614,281 | 1,018,983 | ||||
First Republic Bank | 4,980,174 | 932,139 | ||||
Aflac Inc. | 17,277,847 | 927,129 | ||||
KKR & Co. Inc. | 15,616,976 | 925,150 | ||||
* | Coinbase Global Inc. Class A | 3,403,035 | 861,989 | |||
* | SVB Financial Group | 1,532,028 | 852,466 | |||
Willis Towers Watson plc | 3,644,048 | 838,204 | ||||
Ameriprise Financial Inc. | 3,275,896 | 815,305 | ||||
Arthur J Gallagher & Co. | 5,796,931 | 812,034 | ||||
Fifth Third Bancorp | 19,895,605 | 760,609 | ||||
Northern Trust Corp. | 5,587,800 | 646,061 | ||||
Hartford Financial Services Group Inc. | 10,096,442 | 625,677 | ||||
Huntington Bancshares Inc. | 41,716,235 | 595,291 | ||||
Nasdaq Inc. | 3,245,893 | 570,628 | ||||
KeyCorp | 27,439,151 | 566,618 | ||||
State Street Corp. | 6,759,785 | 556,195 | ||||
Citizens Financial Group Inc. | 12,040,253 | 552,286 | ||||
Regions Financial Corp. | 27,176,722 | 548,426 | ||||
Broadridge Financial Solutions Inc. | 3,281,463 | 530,055 | ||||
M&T Bank Corp. | 3,636,273 | 528,387 | ||||
Ally Financial Inc. | 10,474,563 | 522,052 | ||||
Cincinnati Financial Corp. | 4,324,630 | 504,338 | ||||
Principal Financial Group Inc. | 7,682,446 | 485,454 | ||||
MarketAxess Holdings Inc. | 1,019,659 | 472,704 | ||||
* | Markel Corp. | 388,650 | 461,215 | |||
Raymond James Financial Inc. | 3,494,297 | 453,909 | ||||
* | Berkshire Hathaway Inc. Class A | 1,051 | 439,950 | |||
* | Arch Capital Group Ltd. | 10,831,004 | 421,759 | |||
Signature Bank | 1,623,851 | 398,899 | ||||
Equitable Holdings Inc. | 12,109,138 | 368,723 | ||||
Apollo Global Management Inc. | 5,907,760 | 367,463 | ||||
Brown & Brown Inc. | 6,768,387 | 359,672 | ||||
FactSet Research Systems Inc. | 1,069,709 | 359,005 | ||||
Cboe Global Markets Inc. | 3,015,295 | 358,971 | ||||
Annaly Capital Management Inc. | 39,495,567 | 350,721 | ||||
Loews Corp. | 6,311,360 | 344,916 | ||||
Fidelity National Financial Inc. | 7,757,152 | 337,126 | ||||
Lincoln National Corp. | 5,112,174 | 321,249 | ||||
Invesco Ltd. | 11,738,064 | 313,758 | ||||
LPL Financial Holdings Inc. | 2,146,633 | 289,753 | ||||
East West Bancorp Inc. | 4,010,910 | 287,542 | ||||
Everest Re Group Ltd. | 1,132,482 | 285,397 | ||||
Comerica Inc. | 3,946,875 | 281,570 | ||||
W R Berkley Corp. | 3,757,246 | 279,652 | ||||
Ares Management Corp. Class A | 4,336,301 | 275,745 | ||||
Franklin Resources Inc. | 8,549,133 | 273,487 | ||||
First Horizon Corp. | 15,622,841 | 269,963 | ||||
Assurant Inc. | 1,699,285 | 265,394 | ||||
Carlyle Group Inc. | 5,509,622 | 256,087 | ||||
American Financial Group Inc. | 2,045,243 | 255,083 | ||||
AGNC Investment Corp. | 14,817,959 | 250,275 | ||||
Globe Life Inc. | 2,620,819 | 249,633 | ||||
* | Alleghany Corp. | 373,699 | 249,283 | |||
Tradeweb Markets Inc. Class A | 2,942,245 | 248,796 | ||||
Zions Bancorp NA | 4,631,516 | 244,822 | ||||
Western Alliance Bancorp | 2,620,056 | 243,272 | ||||
* | Athene Holding Ltd. Class A | 3,520,835 | 237,656 | |||
SEI Investments Co. | 3,631,635 | 225,052 |
Shares | Market Value ($000) | |||||
Commerce Bancshares Inc. | 2,978,436 | 222,072 | ||||
Reinsurance Group of America Inc. | 1,920,852 | 218,977 | ||||
*,1 | Opendoor Technologies Inc. | 12,231,263 | 216,860 | |||
Voya Financial Inc. | 3,426,300 | 210,717 | ||||
RenaissanceRe Holdings Ltd. | 1,403,891 | 208,927 | ||||
People's United Financial Inc. | 12,090,937 | 207,239 | ||||
Old Republic International Corp. | 8,182,027 | 203,814 | ||||
Starwood Property Trust Inc. | 7,708,686 | 201,736 | ||||
SLM Corp. | 9,132,251 | 191,229 | ||||
Janus Henderson Group plc | 4,871,482 | 189,062 | ||||
First Financial Bankshares Inc. | 3,825,229 | 187,934 | ||||
First American Financial Corp. | 2,944,951 | 183,618 | ||||
Stifel Financial Corp. | 2,824,613 | 183,204 | ||||
Cullen/Frost Bankers Inc. | 1,619,757 | 181,413 | ||||
Pinnacle Financial Partners Inc. | 2,043,769 | 180,444 | ||||
Prosperity Bancshares Inc. | 2,495,472 | 179,175 | ||||
Jefferies Financial Group Inc. | 5,238,155 | 179,145 | ||||
Synovus Financial Corp. | 3,994,662 | 175,286 | ||||
Affiliated Managers Group Inc. | 1,118,411 | 172,470 | ||||
Morningstar Inc. | 668,277 | 171,821 | ||||
Primerica Inc. | 1,116,967 | 171,052 | ||||
South State Corp. | 2,009,917 | 164,331 | ||||
Popular Inc. | 2,080,207 | 156,120 | ||||
Valley National Bancorp | 11,480,679 | 154,186 | ||||
Interactive Brokers Group Inc. Class A | 2,293,649 | 150,762 | ||||
Glacier Bancorp Inc. | 2,702,747 | 148,867 | ||||
Unum Group | 5,201,306 | 147,717 | ||||
OneMain Holdings Inc. | 2,449,942 | 146,776 | ||||
Bank OZK | 3,463,795 | 146,034 | ||||
CIT Group Inc. | 2,799,508 | 144,427 | ||||
Erie Indemnity Co. Class A | 718,954 | 139,010 | ||||
Evercore Inc. Class A | 985,618 | 138,745 | ||||
Selective Insurance Group Inc. | 1,698,828 | 137,860 | ||||
Webster Financial Corp. | 2,556,141 | 136,345 | ||||
PacWest Bancorp | 3,310,861 | 136,275 | ||||
Essent Group Ltd. | 3,026,146 | 136,025 | ||||
Lazard Ltd. Class A | 3,001,071 | 135,798 | ||||
Sterling Bancorp | 5,465,963 | 135,501 | ||||
New York Community Bancorp Inc. | 12,182,770 | 134,254 | ||||
First Citizens BancShares Inc. Class A | 160,557 | 133,702 | ||||
United Bankshares Inc. | 3,655,488 | 133,425 | ||||
New Residential Investment Corp. | 12,416,166 | 131,487 | ||||
* | Open Lending Corp. Class A | 3,036,251 | 130,832 | |||
MGIC Investment Corp. | 9,578,078 | 130,262 | ||||
Kemper Corp. | 1,735,232 | 128,234 | ||||
RLI Corp. | 1,216,818 | 127,267 | ||||
Blackstone Mortgage Trust Inc. Class A | 3,960,951 | 126,315 | ||||
Hanover Insurance Group Inc. | 913,682 | 123,932 | ||||
Wintrust Financial Corp. | 1,613,839 | 122,055 | ||||
Radian Group Inc. | 5,402,240 | 120,200 | ||||
UMB Financial Corp. | 1,283,057 | 119,401 | ||||
Houlihan Lokey Inc. Class A | 1,458,026 | 119,252 | ||||
*,1 | Credit Acceptance Corp. | 259,830 | 117,991 | |||
* | Trupanion Inc. | 1,014,161 | 116,730 | |||
Umpqua Holdings Corp. | 6,265,341 | 115,596 | ||||
Community Bank System Inc. | 1,512,546 | 114,424 | ||||
Pacific Premier Bancorp Inc. | 2,688,476 | 113,696 | ||||
BankUnited Inc. | 2,647,256 | 113,011 | ||||
FNB Corp. | 9,093,338 | 112,121 | ||||
* | Brighthouse Financial Inc. | 2,433,738 | 110,832 | |||
Hancock Whitney Corp. | 2,451,993 | 108,967 |
Shares | Market Value ($000) | |||||
Axis Capital Holdings Ltd. | 2,157,790 | 105,753 | ||||
First Hawaiian Inc. | 3,698,487 | 104,815 | ||||
*,1 | Lemonade Inc. | 953,524 | 104,325 | |||
Home BancShares Inc. | 4,214,821 | 104,022 | ||||
Kinsale Capital Group Inc. | 611,245 | 100,715 | ||||
Chimera Investment Corp. | 6,536,192 | 98,435 | ||||
Eastern Bankshares Inc. | 4,754,044 | 97,791 | ||||
Moelis & Co. Class A | 1,718,164 | 97,746 | ||||
White Mountains Insurance Group Ltd. | 83,796 | 96,200 | ||||
Assured Guaranty Ltd. | 2,025,932 | 96,191 | ||||
Bank of Hawaii Corp. | 1,131,010 | 95,254 | ||||
Ameris Bancorp | 1,873,903 | 94,876 | ||||
ServisFirst Bancshares Inc. | 1,382,554 | 93,986 | ||||
Navient Corp. | 4,824,144 | 93,251 | ||||
* | Texas Capital Bancshares Inc. | 1,438,210 | 91,312 | |||
Investors Bancorp Inc. | 6,332,226 | 90,298 | ||||
Federated Hermes Inc. Class B | 2,651,865 | 89,925 | ||||
Artisan Partners Asset Management Inc. Class A | 1,739,828 | 88,418 | ||||
CNO Financial Group Inc. | 3,736,177 | 88,249 | ||||
* | Enstar Group Ltd. | 368,841 | 88,124 | |||
Simmons First National Corp. Class A | 2,926,897 | 85,875 | ||||
FirstCash Inc. | 1,108,959 | 84,769 | ||||
Associated Banc-Corp | 4,136,701 | 84,720 | ||||
Cathay General Bancorp | 2,150,895 | 84,659 | ||||
Walker & Dunlop Inc. | 801,034 | 83,612 | ||||
* | Cannae Holdings Inc. | 2,455,393 | 83,262 | |||
Atlantic Union Bankshares Corp. | 2,239,450 | 81,113 | ||||
BancorpSouth Bank | 2,832,221 | 80,237 | ||||
Hamilton Lane Inc. Class A | 879,404 | 80,131 | ||||
Old National Bancorp | 4,490,218 | 79,073 | ||||
United Community Banks Inc. | 2,453,827 | 78,547 | ||||
American Equity Investment Life Holding Co. | 2,429,651 | 78,526 | ||||
Columbia Banking System Inc. | 2,032,546 | 78,375 | ||||
Independent Bank Group Inc. | 1,042,037 | 77,090 | ||||
*,1 | Riot Blockchain Inc. | 2,020,695 | 76,120 | |||
CVB Financial Corp. | 3,640,510 | 74,958 | ||||
Virtu Financial Inc. Class A | 2,709,040 | 74,851 | ||||
1 | Rocket Cos. Inc. Class A | 3,848,996 | 74,478 | |||
First Bancorp (XNYS) | 6,137,676 | 73,161 | ||||
* | Silvergate Capital Corp. Class A | 644,147 | 72,995 | |||
Fulton Financial Corp. | 4,588,610 | 72,408 | ||||
Cadence Bancorp Class A | 3,364,933 | 70,260 | ||||
International Bancshares Corp. | 1,598,669 | 68,647 | ||||
BOK Financial Corp. | 780,808 | 67,618 | ||||
* | LendingTree Inc. | 318,467 | 67,477 | |||
Independent Bank Corp. (Massachusetts) | 892,137 | 67,356 | ||||
* | Axos Financial Inc. | 1,428,002 | 66,245 | |||
* | Focus Financial Partners Inc. Class A | 1,350,547 | 65,502 | |||
WesBanco Inc. | 1,836,571 | 65,437 | ||||
Washington Federal Inc. | 2,048,788 | 65,110 | ||||
First Merchants Corp. | 1,556,992 | 64,880 | ||||
First Midwest Bancorp Inc. | 3,256,353 | 64,573 | ||||
Hilltop Holdings Inc. | 1,749,512 | 63,682 | ||||
Piper Sandler Cos. | 489,083 | 63,366 | ||||
Santander Consumer USA Holdings Inc. | 1,737,388 | 63,102 | ||||
Flagstar Bancorp Inc. | 1,491,603 | 63,050 | ||||
Apollo Commercial Real Estate Finance Inc. | 3,946,067 | 62,940 | ||||
WSFS Financial Corp. | 1,348,682 | 62,835 | ||||
Arbor Realty Trust Inc. | 3,506,200 | 62,480 | ||||
First Financial Bancorp | 2,636,185 | 62,293 | ||||
Renasant Corp. | 1,513,139 | 60,526 |
Shares | Market Value ($000) | |||||
* | Mr Cooper Group Inc. | 1,828,955 | 60,465 | |||
Goosehead Insurance Inc. Class A | 470,487 | 59,893 | ||||
Two Harbors Investment Corp. | 7,826,189 | 59,166 | ||||
PennyMac Mortgage Investment Trust | 2,791,082 | 58,780 | ||||
PennyMac Financial Services Inc. | 944,990 | 58,325 | ||||
MFA Financial Inc. | 12,557,543 | 57,639 | ||||
Towne Bank | 1,873,244 | 56,984 | ||||
Sandy Spring Bancorp Inc. | 1,286,934 | 56,792 | ||||
Virtus Investment Partners Inc. | 204,056 | 56,681 | ||||
* | Genworth Financial Inc. Class A | 14,239,021 | 55,532 | |||
* | NMI Holdings Inc. Class A | 2,442,945 | 54,917 | |||
Cohen & Steers Inc. | 663,913 | 54,501 | ||||
*,1 | Upstart Holdings Inc. | 432,661 | 54,039 | |||
BGC Partners Inc. Class A | 9,527,156 | 54,019 | ||||
Live Oak Bancshares Inc. | 903,676 | 53,317 | ||||
* | Palomar Holdings Inc. | 684,292 | 51,637 | |||
Mercury General Corp. | 791,421 | 51,403 | ||||
Great Western Bancorp Inc. | 1,551,705 | 50,880 | ||||
Heartland Financial USA Inc. | 1,081,939 | 50,840 | ||||
Banner Corp. | 932,876 | 50,571 | ||||
Trustmark Corp. | 1,631,286 | 50,244 | ||||
Seacoast Banking Corp. of Florida | 1,458,436 | 49,806 | ||||
* | LendingClub Corp. | 2,744,392 | 49,756 | |||
Eagle Bancorp Inc. | 877,913 | 49,233 | ||||
* | Triumph Bancorp Inc. | 662,902 | 49,220 | |||
Park National Corp. | 417,753 | 49,053 | ||||
Argo Group International Holdings Ltd. | 945,129 | 48,986 | ||||
New York Mortgage Trust Inc. | 10,745,306 | 48,032 | ||||
* | PRA Group Inc. | 1,235,547 | 47,532 | |||
Hope Bancorp Inc. | 3,326,468 | 47,169 | ||||
First Interstate BancSystem Inc. Class A | 1,126,782 | 47,133 | ||||
Veritex Holdings Inc. | 1,320,939 | 46,774 | ||||
Northwest Bancshares Inc. | 3,410,864 | 46,524 | ||||
Provident Financial Services Inc. | 1,991,430 | 45,584 | ||||
PJT Partners Inc. Class A | 615,537 | 43,937 | ||||
Capitol Federal Financial Inc. | 3,726,571 | 43,899 | ||||
Meta Financial Group Inc. | 866,393 | 43,865 | ||||
BancFirst Corp. | 702,583 | 43,862 | ||||
Horace Mann Educators Corp. | 1,160,467 | 43,425 | ||||
NBT Bancorp Inc. | 1,181,629 | 42,503 | ||||
Stewart Information Services Corp. | 747,068 | 42,351 | ||||
* | Encore Capital Group Inc. | 884,313 | 41,908 | |||
Westamerica Bancorp | 717,967 | 41,664 | ||||
Lakeland Financial Corp. | 664,923 | 40,986 | ||||
1 | iStar Inc. | 1,969,778 | 40,834 | |||
*,1 | eHealth Inc. | 697,818 | 40,753 | |||
Brightsphere Investment Group Inc. | 1,669,284 | 39,111 | ||||
First Commonwealth Financial Corp. | 2,750,307 | 38,697 | ||||
Redwood Trust Inc. | 3,183,500 | 38,425 | ||||
* | SiriusPoint Ltd. | 3,770,790 | 37,972 | |||
FB Financial Corp. | 1,009,946 | 37,691 | ||||
Berkshire Hills Bancorp Inc. | 1,368,567 | 37,512 | ||||
StepStone Group Inc. Class A | 1,078,514 | 37,101 | ||||
James River Group Holdings Ltd. | 987,603 | 37,055 | ||||
Broadmark Realty Capital Inc. | 3,483,276 | 36,888 | ||||
Ladder Capital Corp. | 3,192,166 | 36,838 | ||||
First Busey Corp. | 1,477,035 | 36,424 | ||||
Enterprise Financial Services Corp. | 783,800 | 36,360 | ||||
ProAssurance Corp. | 1,525,342 | 34,702 | ||||
Boston Private Financial Holdings Inc. | 2,345,976 | 34,603 | ||||
S&T Bancorp Inc. | 1,091,553 | 34,166 |
Shares | Market Value ($000) | |||||
Southside Bancshares Inc. | 889,746 | 34,015 | ||||
OceanFirst Financial Corp. | 1,629,481 | 33,958 | ||||
American National Group Inc. | 227,251 | 33,758 | ||||
* | Enova International Inc. | 973,924 | 33,318 | |||
Employers Holdings Inc. | 771,374 | 33,015 | ||||
OFG Bancorp | 1,484,422 | 32,835 | ||||
First Bancorp (XNGS) | 793,028 | 32,443 | ||||
City Holding Co. | 428,000 | 32,203 | ||||
Safety Insurance Group Inc. | 409,861 | 32,084 | ||||
Brookline Bancorp Inc. | 2,145,425 | 32,074 | ||||
AMERISAFE Inc. | 536,761 | 32,039 | ||||
National Bank Holdings Corp. Class A | 848,439 | 32,020 | ||||
* | Bancorp Inc. | 1,380,926 | 31,775 | |||
* | BRP Group Inc. Class A | 1,190,542 | 31,728 | |||
1 | Invesco Mortgage Capital Inc. | 8,060,620 | 31,436 | |||
* | Customers Bancorp Inc. | 800,037 | 31,193 | |||
TFS Financial Corp. | 1,532,085 | 31,101 | ||||
Premier Financial Corp. | 1,061,930 | 30,169 | ||||
Dime Community Bancshares Inc. | 892,156 | 29,994 | ||||
Stock Yards Bancorp Inc. | 585,934 | 29,818 | ||||
Nelnet Inc. Class A | 387,879 | 29,180 | ||||
Tompkins Financial Corp. | 364,164 | 28,245 | ||||
Cowen Inc. Class A | 675,326 | 27,722 | ||||
German American Bancorp Inc. | 740,330 | 27,540 | ||||
Meridian Bancorp Inc. | 1,340,718 | 27,431 | ||||
TriCo Bancshares | 640,669 | 27,280 | ||||
* | StoneX Group Inc. | 437,190 | 26,524 | |||
B. Riley Financial Inc. | 348,947 | 26,346 | ||||
Origin Bancorp Inc. | 620,171 | 26,332 | ||||
* | Oscar Health Inc. Class A | 1,209,241 | 25,999 | |||
Ready Capital Corp. | 1,628,912 | 25,851 | ||||
ConnectOne Bancorp Inc. | 967,897 | 25,330 | ||||
Heritage Financial Corp. | 1,006,483 | 25,182 | ||||
Kearny Financial Corp. | 2,100,812 | 25,105 | ||||
Lakeland Bancorp Inc. | 1,409,589 | 24,640 | ||||
*,1 | MetroMile Inc. | 2,666,591 | 24,399 | |||
Preferred Bank | 379,153 | 23,989 | ||||
KKR Real Estate Finance Trust Inc. | 1,104,591 | 23,892 | ||||
HomeStreet Inc. | 578,950 | 23,586 | ||||
Federal Agricultural Mortgage Corp. Class C | 235,998 | 23,340 | ||||
First Foundation Inc. | 1,036,739 | 23,337 | ||||
Granite Point Mortgage Trust Inc. | 1,581,444 | 23,326 | ||||
Bryn Mawr Bank Corp. | 541,452 | 22,844 | ||||
* | Blucora Inc. | 1,312,273 | 22,715 | |||
Washington Trust Bancorp Inc. | 441,110 | 22,651 | ||||
WisdomTree Investments Inc. | 3,622,002 | 22,456 | ||||
TPG RE Finance Trust Inc. | 1,667,627 | 22,430 | ||||
BrightSpire Capital Inc. | 2,338,486 | 21,982 | ||||
Ellington Financial Inc. | 1,136,749 | 21,769 | ||||
Univest Financial Corp. | 823,311 | 21,711 | ||||
First Bancshares Inc. | 578,990 | 21,672 | ||||
Banc of California Inc. | 1,234,952 | 21,661 | ||||
* | Columbia Financial Inc. | 1,240,810 | 21,367 | |||
ARMOUR Residential REIT Inc. | 1,868,735 | 21,341 | ||||
*,1 | Root Inc. Class A | 1,961,411 | 21,222 | |||
* | Ambac Financial Group Inc. | 1,316,393 | 20,615 | |||
Northfield Bancorp Inc. | 1,251,571 | 20,526 | ||||
* | World Acceptance Corp. | 127,584 | 20,444 | |||
Allegiance Bancshares Inc. | 528,965 | 20,333 | ||||
Central Pacific Financial Corp. | 777,675 | 20,266 | ||||
* | MoneyGram International Inc. | 1,993,880 | 20,098 |
Shares | Market Value ($000) | |||||
1 | UWM Holdings Corp. | 2,374,253 | 20,062 | |||
* | Watford Holdings Ltd. | 568,980 | 19,909 | |||
*,1 | Romeo Power Inc. | 2,425,974 | 19,747 | |||
HarborOne Bancorp Inc. | 1,365,769 | 19,585 | ||||
National Western Life Group Inc. Class A | 86,919 | 19,504 | ||||
QCR Holdings Inc. | 402,082 | 19,336 | ||||
* | GoHealth Inc. Class A | 1,706,845 | 19,134 | |||
Horizon Bancorp Inc. | 1,081,443 | 18,850 | ||||
Camden National Corp. | 390,388 | 18,645 | ||||
Great Southern Bancorp Inc. | 343,100 | 18,493 | ||||
1 | HCI Group Inc. | 182,986 | 18,194 | |||
United Fire Group Inc. | 655,785 | 18,185 | ||||
First Mid Bancshares Inc. | 446,174 | 18,075 | ||||
TrustCo Bank Corp. | 524,779 | 18,042 | ||||
Heritage Commerce Corp. | 1,595,982 | 17,763 | ||||
Community Trust Bancorp Inc. | 435,777 | 17,597 | ||||
Merchants Bancorp | 447,530 | 17,561 | ||||
* | CrossFirst Bankshares Inc. | 1,249,085 | 17,175 | |||
Hanmi Financial Corp. | 884,660 | 16,862 | ||||
Flushing Financial Corp. | 781,396 | 16,745 | ||||
Diamond Hill Investment Group Inc. | 98,938 | 16,553 | ||||
Capstead Mortgage Corp. | 2,668,879 | 16,387 | ||||
* | Nicolet Bankshares Inc. | 232,189 | 16,332 | |||
Altabancorp | 369,940 | 16,022 | ||||
Midland States Bancorp Inc. | 595,655 | 15,648 | ||||
Republic Bancorp Inc. Class A | 338,191 | 15,601 | ||||
Cambridge Bancorp | 187,606 | 15,569 | ||||
* | TriState Capital Holdings Inc. | 755,438 | 15,403 | |||
Dynex Capital Inc. | 816,917 | 15,244 | ||||
Peoples Bancorp Inc. | 509,181 | 15,082 | ||||
Peapack-Gladstone Financial Corp. | 476,295 | 14,798 | ||||
Arrow Financial Corp. | 410,156 | 14,745 | ||||
* | MBIA Inc. | 1,321,611 | 14,538 | |||
CBTX Inc. | 522,900 | 14,280 | ||||
Bank First Corp. | 200,654 | 14,000 | ||||
First Financial Corp. | 340,863 | 13,914 | ||||
* | Atlantic Capital Bancshares Inc. | 541,808 | 13,794 | |||
Hingham Institution For Savings | 47,077 | 13,676 | ||||
Byline Bancorp Inc. | 603,384 | 13,655 | ||||
1 | Orchid Island Capital Inc. | 2,628,471 | 13,642 | |||
Victory Capital Holdings Inc. Class A | 420,918 | 13,591 | ||||
* | AssetMark Financial Holdings Inc. | 533,215 | 13,362 | |||
Independent Bank Corp. (Michigan) | 593,507 | 12,885 | ||||
Oppenheimer Holdings Inc. Class A | 250,998 | 12,761 | ||||
* | Oportun Financial Corp. | 636,191 | 12,743 | |||
* | Amerant Bancorp Inc. Class A | 594,667 | 12,714 | |||
Sculptor Capital Management Inc. Class A | 514,825 | 12,660 | ||||
Financial Institutions Inc. | 420,841 | 12,625 | ||||
Mercantile Bank Corp. | 417,540 | 12,610 | ||||
Business First Bancshares Inc. | 548,608 | 12,591 | ||||
First Community Bankshares Inc. | 418,922 | 12,505 | ||||
First of Long Island Corp. | 588,218 | 12,488 | ||||
Waterstone Financial Inc. | 632,968 | 12,444 | ||||
* | AMMO Inc. | 1,260,156 | 12,337 | |||
* | Metropolitan Bank Holding Corp. | 203,763 | 12,271 | |||
1st Source Corp. | 262,108 | 12,178 | ||||
* | Southern First Bancshares Inc. | 236,770 | 12,113 | |||
Bar Harbor Bankshares | 411,827 | 11,787 | ||||
Reliant Bancorp Inc. | 423,562 | 11,745 | ||||
Universal Insurance Holdings Inc. | 839,795 | 11,656 | ||||
MidWestOne Financial Group Inc. | 402,337 | 11,575 |
Shares | Market Value ($000) | |||||
* | Equity Bancshares Inc. Class A | 373,600 | 11,391 | |||
HomeTrust Bancshares Inc. | 399,852 | 11,156 | ||||
MVB Financial Corp. | 260,932 | 11,131 | ||||
Regional Management Corp. | 232,857 | 10,837 | ||||
West Bancorp Inc. | 387,779 | 10,761 | ||||
Bank of Marin Bancorp | 332,138 | 10,595 | ||||
RBB Bancorp | 434,782 | 10,530 | ||||
Farmers National Banc Corp. | 673,492 | 10,446 | ||||
Primis Financial Corp. | 682,619 | 10,417 | ||||
1 | GCM Grosvenor Inc. Class A | 996,143 | 10,380 | |||
Alerus Financial Corp. | 348,449 | 10,109 | ||||
Capstar Financial Holdings Inc. | 488,248 | 10,009 | ||||
First Bancorp Inc. | 338,506 | 9,969 | ||||
Old Second Bancorp Inc. | 797,417 | 9,888 | ||||
* | Bridgewater Bancshares Inc. | 610,421 | 9,858 | |||
CNB Financial Corp. | 422,728 | 9,647 | ||||
SmartFinancial Inc. | 397,298 | 9,539 | ||||
Civista Bancshares Inc. | 430,004 | 9,503 | ||||
Home Bancorp Inc. | 248,975 | 9,488 | ||||
Citizens & Northern Corp. | 386,437 | 9,468 | ||||
Southern Missouri Bancorp Inc. | 208,303 | 9,365 | ||||
* | Carter Bankshares Inc. | 741,955 | 9,282 | |||
American National Bankshares Inc. | 296,565 | 9,220 | ||||
Sierra Bancorp | 346,699 | 8,824 | ||||
Curo Group Holdings Corp. | 516,829 | 8,786 | ||||
* | EZCORP Inc. Class A | 1,439,531 | 8,680 | |||
First Choice Bancorp | 284,120 | 8,651 | ||||
Metrocity Bankshares Inc. | 488,870 | 8,560 | ||||
Spirit of Texas Bancshares Inc. | 371,242 | 8,479 | ||||
Guaranty Bancshares Inc. | 248,805 | 8,477 | ||||
State Auto Financial Corp. | 494,882 | 8,472 | ||||
Century Bancorp Inc. Class A | 73,090 | 8,332 | ||||
First Internet Bancorp | 263,092 | 8,151 | ||||
Investors Title Co. | 45,994 | 8,032 | ||||
* | Greenlight Capital Re Ltd. Class A | 877,253 | 8,009 | |||
PCSB Financial Corp. | 438,806 | 7,973 | ||||
* | Trean Insurance Group Inc. | 521,868 | 7,870 | |||
FS Bancorp Inc. | 110,310 | 7,862 | ||||
Great Ajax Corp. | 604,493 | 7,846 | ||||
Peoples Financial Services Corp. | 179,123 | 7,631 | ||||
Enterprise Bancorp Inc. | 231,586 | 7,584 | ||||
Provident Bancorp Inc. | 460,030 | 7,503 | ||||
*,1 | Citizens Inc. Class A | 1,398,360 | 7,397 | |||
Capital City Bank Group Inc. | 283,929 | 7,323 | ||||
Summit Financial Group Inc. | 332,686 | 7,322 | ||||
Mid Penn Bancorp Inc. | 264,292 | 7,255 | ||||
1 | Blue Ridge Bankshares Inc. | 413,800 | 7,250 | |||
Red River Bancshares Inc. | 141,735 | 7,159 | ||||
Donegal Group Inc. Class A | 487,738 | 7,106 | ||||
* | Coastal Financial Corp. | 248,551 | 7,099 | |||
Bank of Commerce Holdings | 467,689 | 7,025 | ||||
Amalgamated Financial Corp. | 447,207 | 6,990 | ||||
Northrim Bancorp Inc. | 159,069 | 6,800 | ||||
*,1 | Five Star Bancorp | 280,800 | 6,781 | |||
South Plains Financial Inc. | 292,194 | 6,758 | ||||
* | Select Bancorp Inc. | 417,831 | 6,735 | |||
Investar Holding Corp. | 291,592 | 6,675 | ||||
* | Howard Bancorp Inc. | 413,064 | 6,663 | |||
Community Bankers Trust Corp. | 586,264 | 6,648 | ||||
Macatawa Bank Corp. | 745,583 | 6,524 | ||||
First Bank | 476,401 | 6,450 |
Shares | Market Value ($000) | |||||
ACNB Corp. | 229,974 | 6,419 | ||||
Orrstown Financial Services Inc. | 275,459 | 6,355 | ||||
Central Valley Community Bancorp | 312,875 | 6,304 | ||||
1 | Farmers & Merchants Bancorp Inc. | 285,938 | 6,239 | |||
* | Ocwen Financial Corp. | 200,871 | 6,223 | |||
* | Maiden Holdings Ltd. | 1,832,424 | 6,175 | |||
First Business Financial Services Inc. | 227,883 | 6,169 | ||||
* | Professional Holding Corp. Class A | 342,166 | 6,166 | |||
Marlin Business Services Corp. | 270,575 | 6,158 | ||||
* | Amerant Bancorp Inc. Class B | 314,585 | 6,147 | |||
Crawford & Co. Class B | 708,040 | 6,089 | ||||
National Bankshares Inc. | 173,462 | 6,073 | ||||
Northeast Bank | 203,174 | 6,069 | ||||
* | BayCom Corp. | 335,909 | 6,030 | |||
PCB Bancorp | 374,379 | 6,028 | ||||
Heritage Insurance Holdings Inc. | 698,405 | 5,992 | ||||
Territorial Bancorp Inc. | 225,514 | 5,857 | ||||
Timberland Bancorp Inc. | 208,251 | 5,856 | ||||
Greenhill & Co. Inc. | 373,820 | 5,817 | ||||
Independence Holding Co. | 125,307 | 5,804 | ||||
BCB Bancorp Inc. | 429,957 | 5,783 | ||||
1 | Fidelity D&D Bancorp Inc. | 106,859 | 5,781 | |||
Codorus Valley Bancorp Inc. | 287,534 | 5,762 | ||||
Richmond Mutual Bancorp Inc. | 382,726 | 5,703 | ||||
Parke Bancorp Inc. | 290,652 | 5,685 | ||||
1st Constitution Bancorp | 269,567 | 5,577 | ||||
LCNB Corp. | 335,090 | 5,485 | ||||
Bankwell Financial Group Inc. | 197,559 | 5,461 | ||||
AG Mortgage Investment Trust Inc. | 1,278,175 | 5,458 | ||||
Ames National Corp. | 221,412 | 5,427 | ||||
1 | Community Financial Corp. | 155,124 | 5,352 | |||
* | Capital Bancorp Inc. | 257,446 | 5,265 | |||
* | FVCBankcorp Inc. | 304,945 | 5,263 | |||
* | Medallion Financial Corp. | 588,403 | 5,213 | |||
AFC Gamma Inc. | 250,200 | 5,167 | ||||
* | MainStreet Bancshares Inc. | 228,238 | 5,154 | |||
Bank of Princeton | 179,731 | 5,153 | ||||
Norwood Financial Corp. | 196,843 | 5,118 | ||||
1 | Western Asset Mortgage Capital Corp. | 1,574,051 | 5,116 | |||
Meridian Corp. | 194,533 | 5,107 | ||||
Tiptree Inc. Class A | 546,052 | 5,078 | ||||
C&F Financial Corp. | 99,153 | 5,057 | ||||
Premier Financial Bancorp Inc. | 299,301 | 5,043 | ||||
1 | Cherry Hill Mortgage Investment Corp. | 509,709 | 5,026 | |||
Silvercrest Asset Management Group Inc. Class A | 333,116 | 5,010 | ||||
* | Republic First Bancorp Inc. | 1,249,187 | 4,984 | |||
Shore Bancshares Inc. | 286,372 | 4,797 | ||||
Pzena Investment Management Inc. Class A | 433,970 | 4,778 | ||||
Mackinac Financial Corp. | 241,433 | 4,771 | ||||
Unity Bancorp Inc. | 215,899 | 4,761 | ||||
Virginia National Bankshares Corp. | 121,034 | 4,707 | ||||
Evans Bancorp Inc. | 126,204 | 4,682 | ||||
ESSA Bancorp Inc. | 285,040 | 4,672 | ||||
Riverview Bancorp Inc. | 657,721 | 4,663 | ||||
ChoiceOne Financial Services Inc. | 192,309 | 4,658 | ||||
* | NI Holdings Inc. | 242,390 | 4,608 | |||
* | Pioneer Bancorp Inc. | 382,362 | 4,596 | |||
*,1 | Safeguard Scientifics Inc. | 588,207 | 4,565 | |||
OP Bancorp | 449,912 | 4,526 | ||||
HBT Financial Inc. | 254,362 | 4,428 | ||||
Western New England Bancorp Inc. | 540,879 | 4,408 |
Shares | Market Value ($000) | |||||
Ellington Residential Mortgage REIT | 372,586 | 4,385 | ||||
Penns Woods Bancorp Inc. | 183,006 | 4,359 | ||||
Chemung Financial Corp. | 98,066 | 4,345 | ||||
Westwood Holdings Group Inc. | 197,330 | 4,294 | ||||
* | First Western Financial Inc. | 163,293 | 4,228 | |||
* | Pacific Mercantile Bancorp | 490,923 | 4,222 | |||
*,1 | Finance of America Cos. Inc. Class A | 553,000 | 4,219 | |||
* | Arlington Asset Investment Corp. Class A | 1,037,040 | 4,210 | |||
* | Esquire Financial Holdings Inc. | 175,811 | 4,167 | |||
1 | First Capital Inc. | 95,479 | 4,140 | |||
*,1 | BM Technologies Inc. (XASE) | 331,572 | 4,125 | |||
1 | County Bancorp Inc. | 120,768 | 4,101 | |||
* | Malvern Bancorp Inc. | 219,520 | 4,059 | |||
* | Manning & Napier Inc. Class A | 514,098 | 4,046 | |||
1 | First Savings Financial Group Inc. | 55,035 | 4,026 | |||
*,1 | MMA Capital Holdings Inc. | 145,485 | 3,951 | |||
* | ACRES Commercial Realty Corp. | 245,145 | 3,937 | |||
1 | Plumas Bancorp | 119,696 | 3,834 | |||
Level One Bancorp Inc. | 139,799 | 3,817 | ||||
Severn Bancorp Inc. | 319,317 | 3,800 | ||||
First Community Corp. | 186,000 | 3,757 | ||||
Franklin Financial Services Corp. | 116,984 | 3,736 | ||||
1 | Eagle Bancorp Montana Inc. | 161,868 | 3,723 | |||
First Northwest Bancorp | 208,878 | 3,666 | ||||
Citizens Community Bancorp Inc. | 260,400 | 3,562 | ||||
BankFinancial Corp. | 307,906 | 3,522 | ||||
* | California Bancorp | 187,796 | 3,512 | |||
Luther Burbank Corp. | 291,861 | 3,461 | ||||
United Insurance Holdings Corp. | 604,893 | 3,448 | ||||
First Financial Northwest Inc. | 224,248 | 3,397 | ||||
1 | Hawthorn Bancshares Inc. | 147,702 | 3,387 | |||
1 | FNCB Bancorp Inc. | 465,227 | 3,382 | |||
Middlefield Banc Corp. | 142,329 | 3,359 | ||||
1 | First United Corp. | 188,019 | 3,277 | |||
* | ProSight Global Inc. | 252,607 | 3,223 | |||
1 | Federal Agricultural Mortgage Corp. Class A | 35,555 | 3,218 | |||
American River Bankshares | 177,291 | 3,209 | ||||
GAMCO Investors Inc. Class A | 128,065 | 3,207 | ||||
Lument Finance Trust Inc. | 736,326 | 3,100 | ||||
Provident Financial Holdings Inc. | 178,766 | 3,087 | ||||
1 | CB Financial Services Inc. | 132,764 | 2,941 | |||
Sachem Capital Corp. | 548,216 | 2,933 | ||||
Peoples Bancorp of North Carolina Inc. | 113,094 | 2,918 | ||||
Union Bankshares Inc. | 80,084 | 2,899 | ||||
* | Elevate Credit Inc. | 793,069 | 2,831 | |||
* | Velocity Financial Inc. | 225,230 | 2,813 | |||
Salisbury Bancorp Inc. | 55,018 | 2,795 | ||||
Nexpoint Real Estate Finance Inc. | 131,900 | 2,755 | ||||
First Guaranty Bancshares Inc. | 140,910 | 2,745 | ||||
Summit State Bank | 173,210 | 2,692 | ||||
Prudential Bancorp Inc. | 193,946 | 2,686 | ||||
* | PDL Community Bancorp | 195,093 | 2,665 | |||
SB Financial Group Inc. | 143,155 | 2,648 | ||||
1 | Guild Holdings Co. Class A | 171,100 | 2,625 | |||
United Security Bancshares | 319,796 | 2,613 | ||||
1 | Oak Valley Bancorp | 141,641 | 2,574 | |||
1 | US Global Investors Inc. Class A | 413,367 | 2,559 | |||
* | Heritage Global Inc. | 1,009,805 | 2,555 | |||
1 | Greene County Bancorp Inc. | 88,514 | 2,489 | |||
1 | Partners Bancorp | 304,800 | 2,451 | |||
* | Broadway Financial Corp. | 895,957 | 2,410 |
Shares | Market Value ($000) | |||||
Colony Bankcorp Inc. | 132,080 | 2,359 | ||||
Old Point Financial Corp. | 94,607 | 2,295 | ||||
* | Hallmark Financial Services Inc. | 505,915 | 2,251 | |||
Landmark Bancorp Inc. | 82,143 | 2,219 | ||||
1 | Ohio Valley Banc Corp. | 88,132 | 2,155 | |||
Bank7 Corp. | 122,833 | 2,119 | ||||
1 | Auburn National Bancorp Inc. | 59,198 | 2,099 | |||
* | Angel Oak Mortgage Inc. | 115,072 | 2,056 | |||
* | SWK Holdings Corp. | 116,511 | 2,045 | |||
* | Consumer Portfolio Services Inc. | 444,873 | 2,002 | |||
Manhattan Bridge Capital Inc. | 253,464 | 1,980 | ||||
Associated Capital Group Inc. Class A | 48,851 | 1,898 | ||||
FedNat Holding Co. | 438,682 | 1,821 | ||||
* | Nicholas Financial Inc. | 160,566 | 1,802 | |||
Citizens Holding Co. | 96,321 | 1,778 | ||||
Cortland Bancorp | 66,087 | 1,768 | ||||
* | Randolph Bancorp Inc. | 84,255 | 1,745 | |||
* | Sterling Bancorp Inc. | 370,328 | 1,685 | |||
*,1 | Digital Media Solutions Inc. | 173,619 | 1,681 | |||
* | Riverview Financial Corp. | 146,658 | 1,676 | |||
* | Security National Financial Corp. Class A | 188,168 | 1,646 | |||
Kingstone Cos. Inc. | 202,133 | 1,577 | ||||
* | Great Elm Group Inc. | 699,700 | 1,567 | |||
Sound Financial Bancorp Inc. | 32,847 | 1,424 | ||||
CF Bankshares Inc. | 72,855 | 1,388 | ||||
* | Kingsway Financial Services Inc. | 276,783 | 1,384 | |||
*,4 | BM Technologies Inc. (Acquired 12/17/20, Cost $1,765) | 123,018 | 1,377 | |||
AmeriServ Financial Inc. | 345,032 | 1,356 | ||||
Bank of South Carolina Corp. | 62,409 | 1,279 | ||||
Hennessy Advisors Inc. | 136,122 | 1,269 | ||||
First National Corp. | 63,040 | 1,266 | ||||
1 | loanDepot Inc. Class A | 92,379 | 1,187 | |||
* | Bogota Financial Corp. | 116,190 | 1,183 | |||
*,1 | Limestone Bancorp Inc. | 63,947 | 1,064 | |||
* | Rhinebeck Bancorp Inc. | 95,526 | 1,041 | |||
Crawford & Co. Class A | 112,893 | 1,024 | ||||
Tremont Mortgage Trust | 164,781 | 1,000 | ||||
CBM Bancorp Inc. | 66,233 | 995 | ||||
* | Ashford Inc. | 38,757 | 881 | |||
*,1 | Carver Bancorp Inc. | 85,276 | 873 | |||
William Penn Bancorp | 72,473 | 862 | ||||
First US Bancshares Inc. | 76,445 | 823 | ||||
* | Midwest Holding Inc. | 20,800 | 814 | |||
Emclaire Financial Corp. | 27,204 | 791 | ||||
IF Bancorp Inc. | 32,786 | 754 | ||||
Elmira Savings Bank | 52,075 | 745 | ||||
Community West Bancshares | 50,802 | 665 | ||||
* | HV Bancorp Inc. | 26,133 | 574 | |||
United Bancshares Inc. | 15,866 | 571 | ||||
* | FFBW Inc. | 46,247 | 527 | |||
* | Impac Mortgage Holdings Inc. | 244,016 | 517 | |||
* | Affinity Bancshares Inc. | 35,089 | 451 | |||
* | HMN Financial Inc. | 18,497 | 394 | |||
Lake Shore Bancorp Inc. | 25,642 | 394 | ||||
* | Patriot National Bancorp Inc. | 41,342 | 378 | |||
* | FG Financial Group Inc. | 34,257 | 317 | |||
* | Altisource Asset Management Corp. | 15,364 | 295 | |||
Mid-Southern Bancorp Inc. | 18,226 | 291 | ||||
*,1,2 | Contran Corp. CVR | 204,224 | 196 | |||
Atlantic American Corp. | 36,081 | 156 | ||||
Value Line Inc. | 4,739 | 147 |
Shares | Market Value ($000) | |||||
1 | Oconee Federal Financial Corp. | 5,788 | 135 | |||
* | Village Bank & Trust Financial Corp. | 782 | 38 | |||
* | 1895 Bancorp of Wisconsin Inc. | 2,333 | 35 | |||
*,1 | Medley Management Inc. Class A | 3,709 | 23 | |||
Generations Bancorp NY Inc. | 1,125 | 11 | ||||
Kentucky First Federal Bancorp | 1,245 | 9 | ||||
Pathfinder Bancorp Inc. | 200 | 3 | ||||
*,2 | Frontier Financial Corp. | 1 | — | |||
139,970,303 | ||||||
Health Care (13.01%) | ||||||
Johnson & Johnson | 74,381,224 | 12,253,563 | ||||
UnitedHealth Group Inc. | 26,655,275 | 10,673,838 | ||||
Pfizer Inc. | 158,110,199 | 6,191,595 | ||||
Abbott Laboratories | 50,188,451 | 5,818,347 | ||||
AbbVie Inc. | 49,888,652 | 5,619,458 | ||||
Thermo Fisher Scientific Inc. | 11,101,575 | 5,600,412 | ||||
Eli Lilly & Co. | 24,380,353 | 5,595,779 | ||||
Merck & Co. Inc. | 71,521,061 | 5,562,193 | ||||
Danaher Corp. | 18,132,976 | 4,866,165 | ||||
Medtronic plc | 38,075,061 | 4,726,257 | ||||
Bristol-Myers Squibb Co. | 63,069,662 | 4,214,315 | ||||
Amgen Inc. | 16,228,764 | 3,955,761 | ||||
* | Intuitive Surgical Inc. | 3,344,881 | 3,076,086 | |||
Anthem Inc. | 6,916,039 | 2,640,544 | ||||
Zoetis Inc. Class A | 13,410,996 | 2,499,273 | ||||
Gilead Sciences Inc. | 35,425,710 | 2,439,414 | ||||
Stryker Corp. | 9,045,040 | 2,349,268 | ||||
Cigna Corp. | 9,693,263 | 2,297,982 | ||||
* | Moderna Inc. | 9,639,876 | 2,265,178 | |||
Becton Dickinson & Co. | 8,214,979 | 1,997,801 | ||||
* | Illumina Inc. | 4,124,205 | 1,951,615 | |||
* | Edwards Lifesciences Corp. | 17,559,592 | 1,818,647 | |||
* | Boston Scientific Corp. | 40,137,129 | 1,716,264 | |||
Humana Inc. | 3,644,752 | 1,613,605 | ||||
HCA Healthcare Inc. | 7,614,845 | 1,574,293 | ||||
* | Regeneron Pharmaceuticals Inc. | 2,809,686 | 1,569,322 | |||
* | IDEXX Laboratories Inc. | 2,409,189 | 1,521,523 | |||
* | Vertex Pharmaceuticals Inc. | 7,312,707 | 1,474,461 | |||
* | Biogen Inc. | 4,252,843 | 1,472,632 | |||
* | IQVIA Holdings Inc. | 5,413,519 | 1,311,804 | |||
* | Align Technology Inc. | 2,122,434 | 1,296,807 | |||
Agilent Technologies Inc. | 8,643,165 | 1,277,546 | ||||
* | Veeva Systems Inc. Class A | 3,896,078 | 1,211,485 | |||
* | Centene Corp. | 16,463,269 | 1,200,666 | |||
* | Dexcom Inc. | 2,732,038 | 1,166,580 | |||
* | Alexion Pharmaceuticals Inc. | 6,235,688 | 1,145,558 | |||
Baxter International Inc. | 14,204,672 | 1,143,476 | ||||
ResMed Inc. | 4,111,139 | 1,013,478 | ||||
Zimmer Biomet Holdings Inc. | 5,889,095 | 947,084 | ||||
* | Laboratory Corp. of America Holdings | 2,759,198 | 761,125 | |||
West Pharmaceutical Services Inc. | 2,086,140 | 749,133 | ||||
Cerner Corp. | 8,518,351 | 665,794 | ||||
* | Teladoc Health Inc. | 3,926,887 | 653,002 | |||
* | Seagen Inc. | 3,845,900 | 607,191 | |||
* | Exact Sciences Corp. | 4,844,118 | 602,172 | |||
* | Horizon Therapeutics plc | 6,351,224 | 594,729 | |||
* | Alnylam Pharmaceuticals Inc. | 3,321,618 | 563,081 | |||
STERIS plc | 2,675,018 | 551,856 | ||||
* | Novocure Ltd. | 2,483,217 | 550,827 | |||
Cooper Cos. Inc. | 1,388,700 | 550,300 | ||||
Teleflex Inc. | 1,320,269 | 530,471 |
Shares | Market Value ($000) | |||||
* | Charles River Laboratories International Inc. | 1,419,802 | 525,213 | |||
* | Catalent Inc. | 4,813,357 | 520,420 | |||
* | Insulet Corp. | 1,872,593 | 514,045 | |||
* | Avantor Inc. | 13,984,592 | 496,593 | |||
Bio-Techne Corp. | 1,098,861 | 494,773 | ||||
PerkinElmer Inc. | 3,167,283 | 489,060 | ||||
Viatris Inc. | 34,145,120 | 487,934 | ||||
Quest Diagnostics Inc. | 3,691,381 | 487,152 | ||||
* | Hologic Inc. | 7,240,066 | 483,057 | |||
Cardinal Health Inc. | 8,196,872 | 467,959 | ||||
* | Elanco Animal Health Inc. | 13,363,713 | 463,587 | |||
* | Incyte Corp. | 5,281,692 | 444,349 | |||
*,1 | Novavax Inc. | 2,092,661 | 444,293 | |||
* | 10X Genomics Inc. Class A | 2,216,836 | 434,101 | |||
* | BioMarin Pharmaceutical Inc. | 5,162,842 | 430,788 | |||
* | Molina Healthcare Inc. | 1,649,850 | 417,511 | |||
* | ABIOMED Inc. | 1,279,848 | 399,453 | |||
DENTSPLY SIRONA Inc. | 6,167,580 | 390,161 | ||||
* | Bio-Rad Laboratories Inc. Class A | 592,811 | 381,942 | |||
Royalty Pharma plc Class A | 8,863,714 | 363,324 | ||||
* | Masimo Corp. | 1,398,499 | 339,066 | |||
* | Guardant Health Inc. | 2,711,594 | 336,753 | |||
Universal Health Services Inc. Class B | 2,093,266 | 306,517 | ||||
* | Intellia Therapeutics Inc. | 1,837,897 | 297,574 | |||
* | Henry Schein Inc. | 3,976,259 | 294,999 | |||
* | Repligen Corp. | 1,474,582 | 294,356 | |||
* | Jazz Pharmaceuticals plc | 1,624,391 | 288,557 | |||
* | Penumbra Inc. | 979,651 | 268,483 | |||
* | Syneos Health Inc. | 2,934,168 | 262,579 | |||
* | Neurocrine Biosciences Inc. | 2,672,448 | 260,083 | |||
* | Natera Inc. | 2,233,278 | 253,544 | |||
* | DaVita Inc. | 1,951,317 | 234,997 | |||
* | Arrowhead Pharmaceuticals Inc. | 2,794,965 | 231,479 | |||
*,1 | Bridgebio Pharma Inc. | 3,792,805 | 231,209 | |||
* | United Therapeutics Corp. | 1,266,324 | 227,191 | |||
* | Amedisys Inc. | 920,962 | 225,571 | |||
Encompass Health Corp. | 2,814,211 | 219,593 | ||||
* | Organon & Co. | 7,154,694 | 216,501 | |||
Chemed Corp. | 451,013 | 214,006 | ||||
Hill-Rom Holdings Inc. | 1,878,626 | 213,393 | ||||
Bruker Corp. | 2,783,306 | 211,476 | ||||
* | Mirati Therapeutics Inc. | 1,306,036 | 210,964 | |||
* | STAAR Surgical Co. | 1,328,187 | 202,549 | |||
* | Tenet Healthcare Corp. | 3,018,375 | 202,201 | |||
* | Oak Street Health Inc. | 3,403,472 | 199,341 | |||
* | Envista Holdings Corp. | 4,544,559 | 196,370 | |||
* | Fate Therapeutics Inc. | 2,259,138 | 196,071 | |||
* | Acceleron Pharma Inc. | 1,544,048 | 193,763 | |||
* | HealthEquity Inc. | 2,352,476 | 189,327 | |||
* | Pacific Biosciences of California Inc. | 5,321,239 | 186,084 | |||
* | Omnicell Inc. | 1,216,722 | 184,273 | |||
* | Halozyme Therapeutics Inc. | 4,011,940 | 182,182 | |||
*,1 | Invitae Corp. | 5,361,705 | 180,850 | |||
* | Denali Therapeutics Inc. | 2,226,847 | 174,674 | |||
Perrigo Co. plc | 3,776,587 | 173,157 | ||||
* | LHC Group Inc. | 851,265 | 170,474 | |||
* | Globus Medical Inc. Class A | 2,193,345 | 170,050 | |||
* | Shockwave Medical Inc. | 888,844 | 168,640 | |||
* | Sarepta Therapeutics Inc. | 2,141,606 | 166,488 | |||
* | Twist Bioscience Corp. | 1,242,223 | 165,526 | |||
* | Ultragenyx Pharmaceutical Inc. | 1,720,384 | 164,039 |
Shares | Market Value ($000) | |||||
* | Tandem Diabetes Care Inc. | 1,680,502 | 163,681 | |||
* | Exelixis Inc. | 8,859,039 | 161,412 | |||
* | PPD Inc. | 3,473,130 | 160,077 | |||
* | Acadia Healthcare Co. Inc. | 2,539,738 | 159,369 | |||
* | Nevro Corp. | 934,189 | 154,879 | |||
* | Ionis Pharmaceuticals Inc. | 3,787,718 | 151,092 | |||
* | Blueprint Medicines Corp. | 1,650,431 | 145,172 | |||
* | Medpace Holdings Inc. | 812,303 | 143,477 | |||
* | NeoGenomics Inc. | 3,174,870 | 143,409 | |||
* | Inspire Medical Systems Inc. | 730,804 | 141,235 | |||
* | TG Therapeutics Inc. | 3,591,225 | 139,304 | |||
* | Integra LifeSciences Holdings Corp. | 2,036,402 | 138,964 | |||
* | Neogen Corp. | 3,018,060 | 138,951 | |||
* | Adaptive Biotechnologies Corp. | 3,380,715 | 138,136 | |||
*,1 | Beam Therapeutics Inc. | 1,060,151 | 136,452 | |||
* | CareDx Inc. | 1,468,725 | 134,418 | |||
* | Quidel Corp. | 1,023,474 | 131,127 | |||
Select Medical Holdings Corp. | 3,031,374 | 128,106 | ||||
Ensign Group Inc. | 1,475,334 | 127,867 | ||||
* | Arena Pharmaceuticals Inc. | 1,714,044 | 116,898 | |||
* | ICU Medical Inc. | 564,203 | 116,113 | |||
* | Apellis Pharmaceuticals Inc. | 1,821,214 | 115,101 | |||
Premier Inc. Class A | 3,290,317 | 114,470 | ||||
CONMED Corp. | 825,626 | 113,466 | ||||
* | Alkermes plc | 4,531,626 | 111,115 | |||
* | Privia Health Group Inc. | 2,482,631 | 110,154 | |||
*,1 | Editas Medicine Inc. Class A | 1,917,942 | 108,632 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 2,582,621 | 107,773 | |||
* | Reata Pharmaceuticals Inc. Class A | 753,977 | 106,710 | |||
* | Glaukos Corp. | 1,238,170 | 105,034 | |||
* | NuVasive Inc. | 1,457,177 | 98,767 | |||
* | AtriCure Inc. | 1,222,914 | 97,014 | |||
* | Merit Medical Systems Inc. | 1,497,419 | 96,823 | |||
* | Haemonetics Corp. | 1,447,143 | 96,438 | |||
* | Agios Pharmaceuticals Inc. | 1,742,785 | 96,045 | |||
* | Progyny Inc. | 1,623,400 | 95,781 | |||
* | Iovance Biotherapeutics Inc. | 3,675,162 | 95,628 | |||
* | Insmed Inc. | 3,231,894 | 91,980 | |||
* | Allakos Inc. | 1,056,737 | 90,214 | |||
*,1 | Multiplan Corp. | 9,420,775 | 89,686 | |||
* | 1Life Healthcare Inc. | 2,712,307 | 89,669 | |||
* | Integer Holdings Corp. | 934,844 | 88,062 | |||
* | Nektar Therapeutics | 5,130,208 | 88,034 | |||
*,1 | Cassava Sciences Inc. | 1,017,765 | 86,958 | |||
* | Vir Biotechnology Inc. | 1,836,296 | 86,820 | |||
* | Emergent BioSolutions Inc. | 1,370,512 | 86,329 | |||
Owens & Minor Inc. | 2,016,062 | 85,340 | ||||
* | Arvinas Inc. | 1,106,241 | 85,181 | |||
* | Sage Therapeutics Inc. | 1,494,140 | 84,882 | |||
* | Intra-Cellular Therapies Inc. | 2,077,547 | 84,805 | |||
* | PTC Therapeutics Inc. | 1,983,353 | 83,836 | |||
* | ACADIA Pharmaceuticals Inc. | 3,396,528 | 82,841 | |||
* | NanoString Technologies Inc. | 1,275,314 | 82,628 | |||
* | R1 RCM Inc. | 3,696,386 | 82,208 | |||
* | Turning Point Therapeutics Inc. | 1,038,509 | 81,024 | |||
* | Kodiak Sciences Inc. | 869,010 | 80,818 | |||
*,1 | BioCryst Pharmaceuticals Inc. | 5,040,027 | 79,683 | |||
* | Inari Medical Inc. | 840,789 | 78,429 | |||
* | Veracyte Inc. | 1,908,890 | 76,317 | |||
* | Pacira BioSciences Inc. | 1,239,565 | 75,217 | |||
*,1 | Sorrento Therapeutics Inc. | 7,712,450 | 74,734 |
Shares | Market Value ($000) | |||||
Patterson Cos. Inc. | 2,451,614 | 74,505 | ||||
* | Prestige Consumer Healthcare Inc. | 1,410,029 | 73,462 | |||
* | Dicerna Pharmaceuticals Inc. | 1,954,418 | 72,939 | |||
* | Amicus Therapeutics Inc. | 7,478,438 | 72,092 | |||
* | Accolade Inc. | 1,318,070 | 71,584 | |||
* | Karuna Therapeutics Inc. | 626,172 | 71,377 | |||
* | Inovalon Holdings Inc. Class A | 2,081,472 | 70,937 | |||
* | MEDNAX Inc. | 2,324,610 | 70,087 | |||
* | Phreesia Inc. | 1,133,015 | 69,454 | |||
* | Vericel Corp. | 1,304,455 | 68,484 | |||
* | SpringWorks Therapeutics Inc. | 829,840 | 68,387 | |||
* | Sotera Health Co. | 2,779,259 | 67,341 | |||
* | Option Care Health Inc. | 3,068,110 | 67,100 | |||
Healthcare Services Group Inc. | 2,122,063 | 66,994 | ||||
* | agilon health Inc. | 1,646,843 | 66,812 | |||
* | Corcept Therapeutics Inc. | 2,969,220 | 65,323 | |||
*,1 | Heska Corp. | 279,339 | 64,173 | |||
* | Myriad Genetics Inc. | 2,065,977 | 63,178 | |||
* | Apollo Medical Holdings Inc. | 1,005,116 | 63,131 | |||
* | FibroGen Inc. | 2,355,422 | 62,725 | |||
* | Magellan Health Inc. | 659,714 | 62,145 | |||
* | Surgery Partners Inc. | 929,543 | 61,926 | |||
* | Global Blood Therapeutics Inc. | 1,765,156 | 61,816 | |||
* | Bluebird Bio Inc. | 1,919,064 | 61,372 | |||
* | Outset Medical Inc. | 1,226,452 | 61,298 | |||
* | Axonics Inc. | 963,767 | 61,112 | |||
* | ModivCare Inc. | 357,957 | 60,878 | |||
*,1 | GoodRx Holdings Inc. Class A | 1,667,236 | 60,037 | |||
*,1 | American Well Corp. Class A | 4,715,346 | 59,319 | |||
*,1 | Health Catalyst Inc. | 1,064,331 | 59,081 | |||
* | Ligand Pharmaceuticals Inc. | 449,427 | 58,960 | |||
* | Berkeley Lights Inc. | 1,315,585 | 58,951 | |||
*,1 | Bionano Genomics Inc. | 7,872,672 | 57,707 | |||
* | Xencor Inc. | 1,663,879 | 57,387 | |||
*,1 | Butterfly Network Inc. | 3,949,126 | 57,183 | |||
* | Revance Therapeutics Inc. | 1,925,324 | 57,067 | |||
* | Rocket Pharmaceuticals Inc. | 1,250,668 | 55,392 | |||
* | AdaptHealth Corp. Class A | 2,013,530 | 55,191 | |||
* | Community Health Systems Inc. | 3,547,563 | 54,774 | |||
*,1 | Inovio Pharmaceuticals Inc. | 5,889,031 | 54,591 | |||
* | Protagonist Therapeutics Inc. | 1,203,421 | 54,010 | |||
* | Axsome Therapeutics Inc. | 795,323 | 53,652 | |||
* | REVOLUTION Medicines Inc. | 1,657,702 | 52,615 | |||
* | Translate Bio Inc. | 1,909,243 | 52,581 | |||
* | Relay Therapeutics Inc. | 1,430,458 | 52,340 | |||
* | Allogene Therapeutics Inc. | 1,994,602 | 52,019 | |||
* | iRhythm Technologies Inc. | 783,989 | 52,018 | |||
* | Quanterix Corp. | 868,025 | 50,918 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 3,917,040 | 50,412 | |||
* | Lantheus Holdings Inc. | 1,816,460 | 50,207 | |||
* | Zentalis Pharmaceuticals Inc. | 940,701 | 50,045 | |||
* | Avanos Medical Inc. | 1,365,330 | 49,657 | |||
* | Ortho Clinical Diagnostics Holdings plc | 2,307,800 | 49,410 | |||
*,1 | Fulgent Genetics Inc. | 532,245 | 49,089 | |||
Luminex Corp. | 1,267,273 | 46,636 | ||||
* | Cardiovascular Systems Inc. | 1,093,353 | 46,631 | |||
* | Evolent Health Inc. Class A | 2,182,750 | 46,100 | |||
* | BioLife Solutions Inc. | 1,022,938 | 45,531 | |||
*,1 | Ocugen Inc. | 5,595,906 | 44,935 | |||
* | Heron Therapeutics Inc. | 2,873,367 | 44,595 | |||
* | Castle Biosciences Inc. | 600,074 | 44,003 |
Shares | Market Value ($000) | |||||
* | Supernus Pharmaceuticals Inc. | 1,428,152 | 43,973 | |||
* | Avid Bioservices Inc. | 1,697,181 | 43,533 | |||
* | Seres Therapeutics Inc. | 1,816,072 | 43,313 | |||
* | MacroGenics Inc. | 1,606,133 | 43,141 | |||
*,1 | Anavex Life Sciences Corp. | 1,879,446 | 42,964 | |||
* | RadNet Inc. | 1,266,159 | 42,657 | |||
*,1 | OPKO Health Inc. | 10,453,739 | 42,338 | |||
* | Deciphera Pharmaceuticals Inc. | 1,147,812 | 42,021 | |||
*,1 | Clover Health Investments Corp. | 3,150,771 | 41,968 | |||
* | Silk Road Medical Inc. | 872,010 | 41,734 | |||
US Physical Therapy Inc. | 359,989 | 41,712 | ||||
* | Brookdale Senior Living Inc. | 5,218,038 | 41,222 | |||
* | Inogen Inc. | 627,275 | 40,880 | |||
* | REGENXBIO Inc. | 1,035,378 | 40,224 | |||
* | Addus HomeCare Corp. | 452,292 | 39,458 | |||
* | Arcus Biosciences Inc. | 1,412,740 | 38,794 | |||
* | Codexis Inc. | 1,703,092 | 38,592 | |||
* | Sangamo Therapeutics Inc. | 3,210,151 | 38,425 | |||
* | Doximity Inc. Class A | 658,234 | 38,309 | |||
* | Cytokinetics Inc. | 1,928,074 | 38,157 | |||
* | Kura Oncology Inc. | 1,785,812 | 37,234 | |||
*,1 | Celldex Therapeutics Inc. | 1,109,479 | 37,101 | |||
*,1 | Nuvation Bio Inc. | 3,984,725 | 37,098 | |||
* | ImmunoGen Inc. | 5,625,204 | 37,070 | |||
* | CorVel Corp. | 271,631 | 36,480 | |||
*,1 | MannKind Corp. | 6,620,993 | 36,084 | |||
* | C4 Therapeutics Inc. | 947,234 | 35,843 | |||
*,1 | Atea Pharmaceuticals Inc. | 1,633,672 | 35,091 | |||
* | Atara Biotherapeutics Inc. | 2,220,197 | 34,524 | |||
* | Kymera Therapeutics Inc. | 698,324 | 33,869 | |||
*,1 | Hims & Hers Health Inc. | 3,104,383 | 33,807 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 893,207 | 32,602 | |||
*,1 | Senseonics Holdings Inc. | 8,458,671 | 32,481 | |||
* | Vanda Pharmaceuticals Inc. | 1,490,802 | 32,067 | |||
* | Morphic Holding Inc. | 558,099 | 32,029 | |||
* | Madrigal Pharmaceuticals Inc. | 327,153 | 31,868 | |||
* | Joint Corp. | 376,614 | 31,605 | |||
* | Tabula Rasa HealthCare Inc. | 629,972 | 31,499 | |||
* | Rubius Therapeutics Inc. | 1,272,958 | 31,073 | |||
* | Y-mAbs Therapeutics Inc. | 914,547 | 30,912 | |||
* | Tivity Health Inc. | 1,174,158 | 30,892 | |||
* | Alector Inc. | 1,469,150 | 30,602 | |||
* | Certara Inc. | 1,077,630 | 30,529 | |||
* | Replimune Group Inc. | 792,294 | 30,440 | |||
LeMaitre Vascular Inc. | 491,320 | 29,980 | ||||
* | Krystal Biotech Inc. | 438,975 | 29,850 | |||
* | LifeStance Health Group Inc. | 1,055,674 | 29,411 | |||
* | Endo International plc | 6,279,295 | 29,387 | |||
* | CryoLife Inc. | 1,034,632 | 29,384 | |||
* | Pennant Group Inc. | 715,714 | 29,273 | |||
* | Agenus Inc. | 5,324,007 | 29,229 | |||
* | Varex Imaging Corp. | 1,086,463 | 29,139 | |||
* | Ocular Therapeutix Inc. | 2,023,884 | 28,699 | |||
* | Dynavax Technologies Corp. | 2,906,666 | 28,631 | |||
*,1 | Cortexyme Inc. | 540,079 | 28,624 | |||
* | Aclaris Therapeutics Inc. | 1,598,004 | 28,061 | |||
* | Generation Bio Co. | 1,037,084 | 27,898 | |||
* | ALX Oncology Holdings Inc. | 509,836 | 27,878 | |||
* | Coherus Biosciences Inc. | 2,013,139 | 27,842 | |||
* | Zogenix Inc. | 1,601,353 | 27,671 | |||
* | PetIQ Inc. Class A | 716,823 | 27,669 |
Shares | Market Value ($000) | |||||
* | Tactile Systems Technology Inc. | 529,389 | 27,528 | |||
* | AngioDynamics Inc. | 1,014,509 | 27,524 | |||
*,1 | Applied Molecular Transport Inc. | 600,595 | 27,471 | |||
*,1 | SmileDirectClub Inc. Class A | 3,161,491 | 27,442 | |||
* | Constellation Pharmaceuticals Inc. | 809,642 | 27,366 | |||
*,1 | Cerevel Therapeutics Holdings Inc. | 1,064,899 | 27,283 | |||
* | Cerus Corp. | 4,610,533 | 27,248 | |||
*,1 | DermTech Inc. | 653,197 | 27,153 | |||
* | Meridian Bioscience Inc. | 1,217,883 | 27,013 | |||
* | Pulmonx Corp. | 611,867 | 26,996 | |||
* | Rhythm Pharmaceuticals Inc. | 1,355,781 | 26,546 | |||
* | Nurix Therapeutics Inc. | 1,000,326 | 26,539 | |||
*,1 | Pliant Therapeutics Inc. | 910,064 | 26,501 | |||
* | Hanger Inc. | 1,030,060 | 26,040 | |||
* | PMV Pharmaceuticals Inc. | 760,504 | 25,979 | |||
* | SI-BONE Inc. | 824,580 | 25,950 | |||
*,1 | MiMedx Group Inc. | 2,060,394 | 25,776 | |||
* | OptimizeRx Corp. | 414,345 | 25,648 | |||
*,1 | Olema Pharmaceuticals Inc. | 901,037 | 25,211 | |||
* | Alphatec Holdings Inc. | 1,637,533 | 25,087 | |||
* | Travere Therapeutics Inc. | 1,704,778 | 24,873 | |||
*,1 | Omeros Corp. | 1,669,004 | 24,768 | |||
National HealthCare Corp. | 353,841 | 24,733 | ||||
* | NextGen Healthcare Inc. | 1,488,469 | 24,694 | |||
*,1 | Vaxart Inc. | 3,278,276 | 24,554 | |||
* | Kronos Bio Inc. | 1,023,871 | 24,522 | |||
* | Natus Medical Inc. | 942,380 | 24,483 | |||
* | OrthoPediatrics Corp. | 386,772 | 24,436 | |||
National Research Corp. | 527,886 | 24,230 | ||||
Atrion Corp. | 38,941 | 24,180 | ||||
* | ViewRay Inc. | 3,644,905 | 24,056 | |||
* | Radius Health Inc. | 1,316,175 | 24,007 | |||
* | Shattuck Labs Inc. | 826,567 | 23,962 | |||
* | Personalis Inc. | 935,159 | 23,660 | |||
* | Mersana Therapeutics Inc. | 1,740,336 | 23,634 | |||
* | Theravance Biopharma Inc. | 1,625,986 | 23,609 | |||
* | Innoviva Inc. | 1,733,042 | 23,240 | |||
*,1 | ImmunityBio Inc. | 1,623,782 | 23,188 | |||
* | Arcutis Biotherapeutics Inc. | 842,104 | 22,981 | |||
* | Enanta Pharmaceuticals Inc. | 514,634 | 22,649 | |||
* | Arcturus Therapeutics Holdings Inc. | 669,172 | 22,645 | |||
*,1 | Sesen Bio Inc. | 4,886,333 | 22,575 | |||
* | Scholar Rock Holding Corp. | 776,611 | 22,444 | |||
* | Cutera Inc. | 454,902 | 22,304 | |||
* | Surmodics Inc. | 403,113 | 21,869 | |||
* | Collegium Pharmaceutical Inc. | 923,600 | 21,834 | |||
*,1 | Zomedica Corp. | 26,184,332 | 21,804 | |||
* | Eargo Inc. | 545,716 | 21,780 | |||
*,1 | Atossa Therapeutics Inc. | 3,396,950 | 21,469 | |||
* | Signify Health Inc. Class A | 700,848 | 21,327 | |||
* | Vaxcyte Inc. | 944,616 | 21,263 | |||
*,1 | G1 Therapeutics Inc. | 966,007 | 21,194 | |||
* | Orthofix Medical Inc. | 527,395 | 21,154 | |||
* | Aerie Pharmaceuticals Inc. | 1,312,863 | 21,019 | |||
* | OraSure Technologies Inc. | 2,067,447 | 20,964 | |||
* | Amphastar Pharmaceuticals Inc. | 1,030,122 | 20,767 | |||
* | Syndax Pharmaceuticals Inc. | 1,207,433 | 20,732 | |||
*,1 | Asensus Surgical Inc. | 6,472,054 | 20,516 | |||
* | Rigel Pharmaceuticals Inc. | 4,725,470 | 20,509 | |||
* | TransMedics Group Inc. | 615,353 | 20,417 | |||
*,1 | Humanigen Inc. | 1,163,415 | 20,220 |
Shares | Market Value ($000) | |||||
* | HealthStream Inc. | 721,049 | 20,146 | |||
* | Avidity Biosciences Inc. | 809,364 | 19,999 | |||
* | Agiliti Inc. | 913,127 | 19,970 | |||
* | ChemoCentryx Inc. | 1,485,723 | 19,894 | |||
* | Curis Inc. | 2,463,898 | 19,884 | |||
* | Verastem Inc. | 4,879,551 | 19,860 | |||
* | SeaSpine Holdings Corp. | 960,896 | 19,708 | |||
* | Sutro Biopharma Inc. | 1,046,181 | 19,448 | |||
*,1 | Epizyme Inc. | 2,322,004 | 19,296 | |||
*,1 | Karyopharm Therapeutics Inc. | 1,842,739 | 19,017 | |||
* | Axogen Inc. | 875,038 | 18,910 | |||
* | Kadmon Holdings Inc. | 4,846,942 | 18,758 | |||
* | Albireo Pharma Inc. | 530,095 | 18,649 | |||
*,1 | Alignment Healthcare Inc. | 791,937 | 18,508 | |||
* | Antares Pharma Inc. | 4,218,858 | 18,394 | |||
* | IGM Biosciences Inc. | 219,695 | 18,279 | |||
* | Forma Therapeutics Holdings Inc. | 733,503 | 18,257 | |||
* | RAPT Therapeutics Inc. | 573,573 | 18,234 | |||
* | Organogenesis Holdings Inc. Class A | 1,082,945 | 17,999 | |||
*,1 | Marinus Pharmaceuticals Inc. | 994,174 | 17,835 | |||
* | Stoke Therapeutics Inc. | 523,417 | 17,618 | |||
* | Aldeyra Therapeutics Inc. | 1,543,403 | 17,487 | |||
* | Anika Therapeutics Inc. | 402,697 | 17,433 | |||
*,1 | Cara Therapeutics Inc. | 1,216,818 | 17,364 | |||
*,1 | Precigen Inc. | 2,656,212 | 17,318 | |||
* | Akebia Therapeutics Inc. | 4,493,461 | 17,030 | |||
* | Spectrum Pharmaceuticals Inc. | 4,529,704 | 16,986 | |||
*,1 | Esperion Therapeutics Inc. | 799,117 | 16,901 | |||
* | Amneal Pharmaceuticals Inc. | 3,295,721 | 16,874 | |||
*,1 | Clovis Oncology Inc. | 2,865,388 | 16,619 | |||
* | Keros Therapeutics Inc. | 390,573 | 16,588 | |||
Phibro Animal Health Corp. Class A | 573,523 | 16,563 | ||||
* | Phathom Pharmaceuticals Inc. | 488,578 | 16,538 | |||
* | Ardelyx Inc. | 2,181,265 | 16,534 | |||
* | Chimerix Inc. | 2,063,682 | 16,509 | |||
* | Catalyst Pharmaceuticals Inc. | 2,854,634 | 16,414 | |||
* | Passage Bio Inc. | 1,216,015 | 16,100 | |||
* | Aveanna Healthcare Holdings Inc. | 1,283,844 | 15,881 | |||
* | Praxis Precision Medicines Inc. | 865,815 | 15,827 | |||
* | Crinetics Pharmaceuticals Inc. | 838,738 | 15,810 | |||
* | Precision BioSciences Inc. | 1,253,591 | 15,695 | |||
* | Intersect ENT Inc. | 911,831 | 15,583 | |||
* | Sana Biotechnology Inc. | 789,602 | 15,524 | |||
*,1 | ZIOPHARM Oncology Inc. | 5,813,951 | 15,349 | |||
* | IVERIC bio Inc. | 2,392,757 | 15,098 | |||
* | Intercept Pharmaceuticals Inc. | 755,830 | 15,094 | |||
* | Dyne Therapeutics Inc. | 717,332 | 15,093 | |||
* | Bioxcel Therapeutics Inc. | 509,935 | 14,819 | |||
* | Allovir Inc. | 739,469 | 14,597 | |||
* | Akero Therapeutics Inc. | 583,254 | 14,471 | |||
* | Gossamer Bio Inc. | 1,769,438 | 14,368 | |||
* | Triple-S Management Corp. Class B | 639,762 | 14,247 | |||
* | AnaptysBio Inc. | 545,993 | 14,158 | |||
* | ChromaDex Corp. | 1,435,675 | 14,156 | |||
* | ORIC Pharmaceuticals Inc. | 778,884 | 13,778 | |||
* | Eagle Pharmaceuticals Inc. | 320,635 | 13,723 | |||
* | Avita Medical Inc. | 666,603 | 13,679 | |||
* | BioAtla Inc. | 319,584 | 13,544 | |||
Computer Programs & Systems Inc. | 407,390 | 13,538 | ||||
* | Relmada Therapeutics Inc. | 421,345 | 13,487 | |||
* | Oncocyte Corp. | 2,340,129 | 13,432 |
Shares | Market Value ($000) | |||||
* | InfuSystem Holdings Inc. | 643,179 | 13,372 | |||
*,1 | Aligos Therapeutics Inc. | 645,103 | 13,150 | |||
*,1 | Fluidigm Corp. | 2,128,993 | 13,115 | |||
* | Flexion Therapeutics Inc. | 1,575,341 | 12,965 | |||
* | Accuray Inc. | 2,803,916 | 12,674 | |||
* | Ideaya Biosciences Inc. | 598,776 | 12,568 | |||
*,1 | Annovis Bio Inc. | 146,852 | 12,568 | |||
* | PAVmed Inc. | 1,959,573 | 12,541 | |||
* | Geron Corp. | 8,890,353 | 12,535 | |||
* | KalVista Pharmaceuticals Inc. | 519,374 | 12,444 | |||
* | TCR2 Therapeutics Inc. | 750,605 | 12,317 | |||
* | CytomX Therapeutics Inc. | 1,941,022 | 12,287 | |||
* | Stereotaxis Inc. | 1,269,123 | 12,234 | |||
* | Vapotherm Inc. | 516,241 | 12,204 | |||
* | Innovage Holding Corp. | 565,667 | 12,054 | |||
* | iCAD Inc. | 693,372 | 12,002 | |||
*,1 | Provention Bio Inc. | 1,416,318 | 11,940 | |||
* | Sientra Inc. | 1,487,200 | 11,838 | |||
*,1 | Viking Therapeutics Inc. | 1,954,467 | 11,707 | |||
* | Immunovant Inc. | 1,106,066 | 11,691 | |||
*,1 | TherapeuticsMD Inc. | 9,817,287 | 11,683 | |||
*,1 | Citius Pharmaceuticals Inc. | 3,326,638 | 11,577 | |||
* | UFP Technologies Inc. | 197,000 | 11,312 | |||
* | Evolus Inc. | 893,396 | 11,301 | |||
* | Harmony Biosciences Holdings Inc. | 399,183 | 11,269 | |||
*,1 | Viracta Therapeutics Inc. | 990,902 | 11,237 | |||
*,1 | Evelo Biosciences Inc. | 815,361 | 11,203 | |||
*,1 | Lyell Immunopharma Inc. | 685,357 | 11,130 | |||
* | iRadimed Corp. | 370,023 | 10,882 | |||
* | Annexon Inc. | 482,424 | 10,859 | |||
* | Kindred Biosciences Inc. | 1,184,125 | 10,858 | |||
* | Neuronetics Inc. | 669,625 | 10,727 | |||
* | Kiniksa Pharmaceuticals Ltd. Class A | 764,267 | 10,646 | |||
Utah Medical Products Inc. | 123,017 | 10,461 | ||||
* | Durect Corp. | 6,403,379 | 10,437 | |||
* | Selecta Biosciences Inc. | 2,488,030 | 10,400 | |||
*,1 | Tonix Pharmaceuticals Holding Corp. | 9,325,500 | 10,351 | |||
* | Nkarta Inc. | 325,617 | 10,319 | |||
* | Harpoon Therapeutics Inc. | 743,612 | 10,314 | |||
*,1 | Instil Bio Inc. | 531,457 | 10,268 | |||
* | Forte Biosciences Inc. | 304,284 | 10,230 | |||
* | Spero Therapeutics Inc. | 732,126 | 10,220 | |||
* | Puma Biotechnology Inc. | 1,097,041 | 10,071 | |||
*,1 | Prelude Therapeutics Inc. | 349,077 | 9,994 | |||
* | Cue Biopharma Inc. | 849,182 | 9,893 | |||
* | BioDelivery Sciences International Inc. | 2,761,616 | 9,887 | |||
* | Applied Therapeutics Inc. | 474,066 | 9,851 | |||
* | Apria Inc. | 350,792 | 9,822 | |||
* | ANI Pharmaceuticals Inc. | 279,510 | 9,797 | |||
*,1 | Lineage Cell Therapeutics Inc. | 3,434,473 | 9,788 | |||
*,1 | Athenex Inc. | 2,100,766 | 9,706 | |||
* | Chinook Therapeutics Inc. | 687,295 | 9,705 | |||
* | Harvard Bioscience Inc. | 1,162,473 | 9,683 | |||
* | Altimmune Inc. | 973,359 | 9,588 | |||
* | Apyx Medical Corp. | 926,965 | 9,557 | |||
*,1 | SQZ Biotechnologies Co. | 657,442 | 9,500 | |||
* | Cullinan Oncology Inc. | 366,338 | 9,433 | |||
*,1 | CEL-SCI Corp. | 1,085,487 | 9,422 | |||
*,1 | iBio Inc. | 6,182,400 | 9,335 | |||
* | ClearPoint Neuro Inc. | 485,726 | 9,272 | |||
*,1 | Treace Medical Concepts Inc. | 294,629 | 9,210 |
Shares | Market Value ($000) | |||||
*,1 | Silverback Therapeutics Inc. | 298,009 | 9,205 | |||
* | Aeglea BioTherapeutics Inc. | 1,312,363 | 9,134 | |||
* | XBiotech Inc. | 551,119 | 9,127 | |||
* | MEI Pharma Inc. | 3,197,766 | 9,114 | |||
* | Athira Pharma Inc. | 888,175 | 9,095 | |||
*,1 | 908 Devices Inc. | 229,763 | 8,903 | |||
* | Poseida Therapeutics Inc. | 887,948 | 8,897 | |||
* | CytoSorbents Corp. | 1,165,426 | 8,799 | |||
*,1 | GT Biopharma Inc. | 566,369 | 8,779 | |||
*,1 | Ampio Pharmaceuticals Inc. | 5,241,695 | 8,754 | |||
*,1 | Kinnate Biopharma Inc. | 373,540 | 8,696 | |||
* | Magenta Therapeutics Inc. | 886,614 | 8,671 | |||
* | Molecular Templates Inc. | 1,104,053 | 8,634 | |||
* | Cymabay Therapeutics Inc. | 1,979,241 | 8,629 | |||
* | Avrobio Inc. | 967,108 | 8,598 | |||
* | Lexicon Pharmaceuticals Inc. | 1,869,773 | 8,582 | |||
* | Eiger BioPharmaceuticals Inc. | 1,001,630 | 8,534 | |||
*,1 | Paratek Pharmaceuticals Inc. | 1,241,005 | 8,464 | |||
*,1 | Zynex Inc. | 541,306 | 8,406 | |||
*,1 | Neoleukin Therapeutics Inc. | 903,806 | 8,342 | |||
* | Tarsus Pharmaceuticals Inc. | 287,291 | 8,326 | |||
* | Adverum Biotechnologies Inc. | 2,373,289 | 8,307 | |||
* | Homology Medicines Inc. | 1,138,803 | 8,279 | |||
*,1 | Athersys Inc. | 5,746,910 | 8,276 | |||
*,1 | KemPharm Inc. | 644,100 | 8,257 | |||
* | Castlight Health Inc. Class B | 3,132,276 | 8,238 | |||
* | Invacare Corp. | 1,019,927 | 8,231 | |||
* | Gritstone bio Inc. | 901,205 | 8,228 | |||
* | Black Diamond Therapeutics Inc. | 670,378 | 8,172 | |||
*,1 | Singular Genomics Systems Inc. | 297,086 | 8,164 | |||
* | Misonix Inc. | 366,647 | 8,132 | |||
*,1 | PDS Biotechnology Corp. | 644,750 | 8,092 | |||
*,1 | Aspira Women's Health Inc. | 1,436,328 | 8,072 | |||
*,1 | SOC Telemed Inc. Class A | 1,410,716 | 8,027 | |||
*,1 | Prometheus Biosciences Inc. | 326,754 | 8,025 | |||
* | Inotiv Inc. | 299,702 | 7,996 | |||
*,1 | Frequency Therapeutics Inc. | 792,410 | 7,892 | |||
*,1 | PLx Pharma Inc. | 568,172 | 7,841 | |||
*,1 | Seer Inc. Class A | 238,986 | 7,834 | |||
* | Adicet Bio Inc. | 757,181 | 7,791 | |||
*,1 | Syros Pharmaceuticals Inc. | 1,426,343 | 7,774 | |||
*,1 | Clene Inc. | 691,300 | 7,770 | |||
*,1 | Design Therapeutics Inc. | 389,569 | 7,749 | |||
* | SIGA Technologies Inc. | 1,213,112 | 7,618 | |||
* | Akouos Inc. | 599,792 | 7,527 | |||
* | Infinity Pharmaceuticals Inc. | 2,513,513 | 7,515 | |||
*,1 | Trevena Inc. | 4,419,294 | 7,469 | |||
*,1 | Seelos Therapeutics Inc. | 2,820,391 | 7,446 | |||
*,1 | 9 Meters Biopharma Inc. | 6,726,275 | 7,399 | |||
* | CorMedix Inc. | 1,072,675 | 7,359 | |||
*,1 | Gemini Therapeutics Inc. Class A | 1,134,730 | 7,342 | |||
*,1 | Edgewise Therapeutics Inc. | 341,602 | 7,286 | |||
*,1 | Xeris Pharmaceuticals Inc. | 1,778,523 | 7,239 | |||
*,1 | Kala Pharmaceuticals Inc. | 1,364,171 | 7,230 | |||
* | Viemed Healthcare Inc. | 1,007,372 | 7,203 | |||
* | Mirum Pharmaceuticals Inc. | 416,459 | 7,201 | |||
*,1 | Chiasma Inc. | 1,514,996 | 7,166 | |||
*,1 | Accelerate Diagnostics Inc. | 888,481 | 7,161 | |||
*,1 | Cogent Biosciences Inc. | 875,342 | 7,099 | |||
*,1 | Cardiff Oncology Inc. | 1,067,237 | 7,097 | |||
* | Acutus Medical Inc. | 417,898 | 7,096 |
Shares | Market Value ($000) | |||||
* | Arbutus Biopharma Corp. | 2,328,074 | 7,054 | |||
*,1 | Ontrak Inc. | 215,565 | 7,002 | |||
*,1 | NRX Pharmaceuticals Inc. | 602,000 | 6,995 | |||
* | Mustang Bio Inc. | 2,105,047 | 6,989 | |||
* | XOMA Corp. | 204,566 | 6,955 | |||
*,1 | Pulse Biosciences Inc. | 417,488 | 6,847 | |||
*,1 | Soliton Inc. | 303,956 | 6,836 | |||
*,1 | AVEO Pharmaceuticals Inc. | 1,031,003 | 6,794 | |||
*,1 | Atreca Inc. Class A | 797,264 | 6,793 | |||
*,1 | Taysha Gene Therapies Inc. | 318,269 | 6,747 | |||
* | Clearside Biomedical Inc. | 1,382,559 | 6,733 | |||
* | Outlook Therapeutics Inc. | 2,674,274 | 6,659 | |||
*,1 | Co-Diagnostics Inc. | 800,052 | 6,600 | |||
* | NGM Biopharmaceuticals Inc. | 333,294 | 6,573 | |||
* | Celcuity Inc. | 273,446 | 6,563 | |||
* | Kezar Life Sciences Inc. | 1,193,164 | 6,479 | |||
* | Fortress Biotech Inc. | 1,807,324 | 6,452 | |||
*,1 | Corbus Pharmaceuticals Holdings Inc. | 3,518,888 | 6,440 | |||
* | CTI BioPharma Corp. | 2,571,037 | 6,428 | |||
* | iTeos Therapeutics Inc. | 249,545 | 6,401 | |||
1 | Forian Inc. | 507,400 | 6,378 | |||
* | 4D Molecular Therapeutics Inc. | 264,640 | 6,373 | |||
*,1 | Harrow Health Inc. | 683,104 | 6,346 | |||
*,1 | Bolt Biotherapeutics Inc. | 410,263 | 6,343 | |||
* | Codiak Biosciences Inc. | 341,978 | 6,337 | |||
* | EyePoint Pharmaceuticals Inc. | 702,533 | 6,316 | |||
*,1 | MyMD Pharmaceuticals Inc. | 985,700 | 6,210 | |||
*,1 | Oyster Point Pharma Inc. | 360,685 | 6,200 | |||
* | Oncorus Inc. | 443,031 | 6,114 | |||
*,1 | Zynerba Pharmaceuticals Inc. | 1,128,579 | 5,970 | |||
*,1 | Ovid therapeutics Inc. | 1,515,603 | 5,926 | |||
*,1 | Oncternal Therapeutics Inc. | 1,242,314 | 5,901 | |||
*,1 | Conformis Inc. | 5,121,178 | 5,889 | |||
* | Adamas Pharmaceuticals Inc. | 1,105,504 | 5,837 | |||
* | IntriCon Corp. | 259,342 | 5,830 | |||
*,1 | Inhibrx Inc. | 211,473 | 5,820 | |||
* | Jounce Therapeutics Inc. | 839,398 | 5,708 | |||
*,2 | PDL BioPharma Inc. | 2,258,201 | 5,578 | |||
*,1 | Jaguar Health Inc. | 3,489,800 | 5,514 | |||
* | Fulcrum Therapeutics Inc. | 523,526 | 5,487 | |||
* | Summit Therapeutics Inc. | 731,303 | 5,456 | |||
* | Day One Biopharmaceuticals Inc. | 238,764 | 5,437 | |||
* | TFF Pharmaceuticals Inc. | 562,212 | 5,403 | |||
*,1 | Novan Inc. | 533,644 | 5,368 | |||
*,1 | Surface Oncology Inc. | 715,945 | 5,341 | |||
*,1 | Retractable Technologies Inc. | 457,444 | 5,288 | |||
*,1 | ADMA Biologics Inc. | 3,268,214 | 5,229 | |||
*,1 | VYNE Therapeutics Inc. | 1,478,090 | 5,188 | |||
* | Solid Biosciences Inc. | 1,368,665 | 5,009 | |||
* | Bioventus Inc. Class A | 283,387 | 4,988 | |||
* | Immunic Inc. | 405,880 | 4,976 | |||
*,1 | Checkpoint Therapeutics Inc. | 1,681,481 | 4,960 | |||
*,1 | Foghorn Therapeutics Inc. | 463,882 | 4,950 | |||
*,1 | Evofem Biosciences Inc. | 4,331,794 | 4,895 | |||
* | Savara Inc. | 2,872,465 | 4,883 | |||
*,1 | MediciNova Inc. | 1,145,202 | 4,867 | |||
*,1 | T2 Biosystems Inc. | 4,088,642 | 4,865 | |||
*,1 | Vor BioPharma Inc. | 259,324 | 4,836 | |||
*,1 | Verrica Pharmaceuticals Inc. | 425,923 | 4,813 | |||
*,1 | Heat Biologics Inc. | 704,976 | 4,744 | |||
*,1 | ContraFect Corp. | 1,070,281 | 4,709 |
Shares | Market Value ($000) | |||||
* | Marker Therapeutics Inc. | 1,667,393 | 4,652 | |||
*,1 | SELLAS Life Sciences Group Inc. | 418,731 | 4,648 | |||
*,1 | Adamis Pharmaceuticals Corp. | 4,092,849 | 4,502 | |||
* | Exagen Inc. | 299,858 | 4,495 | |||
* | NeuBase Therapeutics Inc. | 935,722 | 4,482 | |||
* | Larimar Therapeutics Inc. | 451,952 | 4,438 | |||
*,1 | AcelRx Pharmaceuticals Inc. | 3,196,620 | 4,411 | |||
* | Cerecor Inc. | 1,342,726 | 4,391 | |||
*,1 | Actinium Pharmaceuticals Inc. | 551,795 | 4,365 | |||
* | 89bio Inc. | 232,893 | 4,355 | |||
*,1 | Inmune Bio Inc. | 246,850 | 4,337 | |||
*,1 | PhaseBio Pharmaceuticals Inc. | 1,155,803 | 4,300 | |||
*,1 | Cabaletta Bio Inc. | 497,596 | 4,279 | |||
*,1 | Applied Genetic Technologies Corp. | 1,083,450 | 4,236 | |||
*,1 | Second Sight Medical Products Inc. | 855,961 | 4,228 | |||
* | Hookipa Pharma Inc. | 455,921 | 4,176 | |||
*,1 | Lannett Co. Inc. | 889,477 | 4,154 | |||
* | Strongbridge Biopharma plc | 1,398,325 | 4,153 | |||
*,1 | UNITY Biotechnology Inc. | 885,401 | 4,108 | |||
* | Hepion Pharmaceuticals Inc. | 2,069,200 | 4,097 | |||
*,1 | Tyme Technologies Inc. | 3,249,658 | 4,095 | |||
*,1 | Surgalign Holdings Inc. | 2,936,696 | 4,082 | |||
*,1 | X4 Pharmaceuticals Inc. | 625,831 | 4,068 | |||
* | Voyager Therapeutics Inc. | 975,770 | 4,030 | |||
* | Enzo Biochem Inc. | 1,264,541 | 4,009 | |||
*,1 | Matinas BioPharma Holdings Inc. | 5,173,894 | 4,009 | |||
*,1 | SCYNEXIS Inc. | 543,194 | 3,998 | |||
* | Synlogic Inc. | 1,025,995 | 3,991 | |||
* | Immunome Inc. | 229,937 | 3,978 | |||
* | NeuroPace Inc. | 163,860 | 3,898 | |||
* | Akoya Biosciences Inc. | 201,479 | 3,897 | |||
*,1 | Kaleido Biosciences Inc. | 523,722 | 3,896 | |||
* | Repro-Med Systems Inc. | 841,496 | 3,896 | |||
*,1 | Calithera Biosciences Inc. | 1,856,770 | 3,881 | |||
*,1 | Abeona Therapeutics Inc. | 2,476,342 | 3,863 | |||
*,1 | Vincerx Pharma Inc. | 296,121 | 3,847 | |||
* | Viridian Therapeutics Inc. | 209,454 | 3,831 | |||
*,1 | Genprex Inc. | 1,143,300 | 3,830 | |||
* | CASI Pharmaceuticals Inc. | 2,464,586 | 3,820 | |||
*,1 | Galectin Therapeutics Inc. | 1,188,478 | 3,803 | |||
* | Apollo Endosurgery Inc. | 461,395 | 3,737 | |||
* | FONAR Corp. | 210,441 | 3,721 | |||
*,1 | Palatin Technologies Inc. | 6,080,943 | 3,709 | |||
* | Assembly Biosciences Inc. | 952,579 | 3,696 | |||
* | F-star Therapeutics Inc. | 427,472 | 3,672 | |||
*,1 | Avinger Inc. | 2,981,057 | 3,667 | |||
*,1 | Agile Therapeutics Inc. | 2,743,071 | 3,648 | |||
* | NexImmune Inc. | 222,050 | 3,624 | |||
*,1 | BrainStorm Cell Therapeutics Inc. | 950,724 | 3,613 | |||
*,1 | Tricida Inc. | 835,778 | 3,611 | |||
*,1 | Satsuma Pharmaceuticals Inc. | 511,415 | 3,605 | |||
* | Anixa Biosciences Inc. | 927,178 | 3,597 | |||
* | Catalyst Biosciences Inc. | 825,860 | 3,576 | |||
*,1 | Milestone Scientific Inc. | 1,446,896 | 3,545 | |||
*,1 | Eton Pharmaceuticals Inc. | 574,850 | 3,541 | |||
* | Sio Gene Therapies Inc. | 1,283,882 | 3,505 | |||
* | Bright Health Group Inc. | 203,739 | 3,496 | |||
*,1 | Aptinyx Inc. Class A | 1,226,336 | 3,471 | |||
*,1 | Cyclerion Therapeutics Inc. | 886,273 | 3,456 | |||
*,1 | Eloxx Pharmaceuticals Inc. | 1,724,180 | 3,431 | |||
*,1 | Rain Therapeutics Inc. | 219,169 | 3,406 |
Shares | Market Value ($000) | |||||
* | Tela Bio Inc. | 209,935 | 3,382 | |||
* | Otonomy Inc. | 1,512,369 | 3,373 | |||
* | Concert Pharmaceuticals Inc. | 796,804 | 3,363 | |||
*,1 | Equillium Inc. | 570,433 | 3,360 | |||
*,1 | Lipocine Inc. | 2,396,307 | 3,355 | |||
*,1 | Greenwich Lifesciences Inc. | 73,678 | 3,311 | |||
* | Talaris Therapeutics Inc. | 219,851 | 3,230 | |||
*,1 | Galera Therapeutics Inc. | 328,171 | 3,226 | |||
*,1 | GlycoMimetics Inc. | 1,368,882 | 3,176 | |||
*,1 | Biodesix Inc. | 240,315 | 3,175 | |||
* | Talis Biomedical Corp. | 285,242 | 3,146 | |||
* | Terns Pharmaceuticals Inc. | 252,256 | 3,093 | |||
* | Five Star Senior Living Inc. | 536,668 | 3,091 | |||
*,1 | Celsion Corp. | 2,427,040 | 3,082 | |||
* | Biolase Inc. | 4,387,500 | 3,063 | |||
*,1 | Optinose Inc. | 983,421 | 3,058 | |||
*,1 | Inozyme Pharma Inc. | 179,321 | 3,056 | |||
*,1 | Alpine Immune Sciences Inc. | 337,705 | 3,039 | |||
*,1 | Capricor Therapeutics Inc. | 587,200 | 3,012 | |||
*,1 | Aytu BioPharma Inc. | 595,106 | 2,981 | |||
*,1 | Yumanity Therapeutics Inc. | 253,324 | 2,951 | |||
*,1 | Beyond Air Inc. | 453,052 | 2,936 | |||
*,1 | Liquidia Corp. | 1,019,845 | 2,917 | |||
* | NextCure Inc. | 362,502 | 2,911 | |||
* | scPharmaceuticals Inc. | 473,719 | 2,894 | |||
*,1 | IsoRay Inc. | 3,606,059 | 2,877 | |||
*,1 | Orgenesis Inc. | 566,209 | 2,871 | |||
*,1 | Cocrystal Pharma Inc. | 2,294,391 | 2,868 | |||
*,1 | Caladrius Biosciences Inc. | 1,773,846 | 2,856 | |||
*,1 | Genocea Biosciences Inc. | 1,214,060 | 2,841 | |||
*,1 | Onconova Therapeutics Inc. | 408,218 | 2,829 | |||
* | AIM ImmunoTech Inc. | 1,310,600 | 2,818 | |||
* | Aileron Therapeutics Inc. | 2,230,166 | 2,788 | |||
* | Protara Therapeutics Inc. | 284,100 | 2,767 | |||
* | Cidara Therapeutics Inc. | 1,335,562 | 2,698 | |||
* | Pro-Dex Inc. | 87,833 | 2,684 | |||
*,1 | Minerva Neurosciences Inc. | 1,155,739 | 2,681 | |||
*,1 | Aquestive Therapeutics Inc. | 667,978 | 2,652 | |||
* | cbdMD Inc. | 909,198 | 2,637 | |||
* | Tracon Pharmaceuticals Inc. | 406,000 | 2,635 | |||
* | Recro Pharma Inc. | 1,129,353 | 2,609 | |||
* | Dare Bioscience Inc. | 1,364,910 | 2,580 | |||
*,1 | Dyadic International Inc. | 715,163 | 2,567 | |||
* | Champions Oncology Inc. | 247,970 | 2,549 | |||
* | Venus Concept Inc. | 809,282 | 2,517 | |||
*,1 | Oragenics Inc. | 3,554,201 | 2,507 | |||
*,1 | Sensei Biotherapeutics Inc. | 253,646 | 2,476 | |||
*,1 | ENDRA Life Sciences Inc. | 1,134,800 | 2,474 | |||
* | Spruce Biosciences Inc. | 219,615 | 2,462 | |||
* | Exicure Inc. | 1,638,717 | 2,458 | |||
* | Processa Pharmaceuticals Inc. | 299,444 | 2,452 | |||
*,1 | Zosano Pharma Corp. | 2,566,514 | 2,438 | |||
* | Biomea Fusion Inc. | 155,292 | 2,424 | |||
* | Sigilon Therapeutics Inc. | 225,702 | 2,422 | |||
* | Axcella Health Inc. | 600,493 | 2,408 | |||
*,1 | BioSig Technologies Inc. | 622,975 | 2,405 | |||
*,1 | Precipio Inc. | 661,559 | 2,401 | |||
* | Merrimack Pharmaceuticals Inc. | 369,747 | 2,363 | |||
*,1 | Aprea Therapeutics Inc. | 482,121 | 2,353 | |||
* | Verve Therapeutics Inc. | 38,965 | 2,348 | |||
*,1 | Leap Therapeutics Inc. | 1,409,450 | 2,311 |
Shares | Market Value ($000) | |||||
* | Capital Senior Living Corp. | 46,445 | 2,299 | |||
*,1 | La Jolla Pharmaceutical Co. | 536,501 | 2,296 | |||
*,1 | Ikena Oncology Inc. | 163,253 | 2,292 | |||
* | Lantern Pharma Inc. | 156,268 | 2,282 | |||
*,1 | Sanara Medtech Inc. | 61,693 | 2,280 | |||
* | IRIDEX Corp. | 322,702 | 2,278 | |||
* | DiaMedica Therapeutics Inc. | 505,866 | 2,251 | |||
* | Vyant Bio Inc. | 600,062 | 2,244 | |||
* | CareCloud Inc. | 266,086 | 2,240 | |||
*,1 | Organovo Holdings Inc. | 237,777 | 2,235 | |||
* | LENSAR Inc. | 254,867 | 2,207 | |||
*,1 | OpGen Inc. | 967,700 | 2,197 | |||
* | Diffusion Pharmaceuticals Inc. | 3,006,200 | 2,195 | |||
* | Decibel Therapeutics Inc. | 244,836 | 2,106 | |||
* | aTyr Pharma Inc. | 431,225 | 2,104 | |||
* | Electromed Inc. | 185,664 | 2,096 | |||
*,1 | Aravive Inc. | 350,035 | 2,093 | |||
* | Eyenovia Inc. | 418,511 | 2,076 | |||
* | Reviva Pharmaceuticals Holdings Inc. | 423,854 | 2,060 | |||
*,1 | Moleculin Biotech Inc. | 560,907 | 2,059 | |||
*,1 | Aerpio Pharmaceuticals Inc. | 1,201,352 | 2,030 | |||
*,1 | Progenity Inc. | 564,743 | 2,016 | |||
* | ElectroCore Inc. | 1,691,976 | 2,013 | |||
* | NantHealth Inc. | 866,370 | 2,010 | |||
*,1 | Myomo Inc. | 180,294 | 1,947 | |||
*,1 | Rockwell Medical Inc. | 2,136,964 | 1,945 | |||
*,1 | Assertio Holdings Inc. | 1,243,029 | 1,939 | |||
*,1 | Corvus Pharmaceuticals Inc. | 724,661 | 1,935 | |||
*,1 | Cohbar Inc. | 1,380,100 | 1,932 | |||
*,1 | Landos Biopharma Inc. | 166,889 | 1,928 | |||
*,1 | PolarityTE Inc. | 1,864,464 | 1,902 | |||
*,1 | Advaxis Inc. | 4,099,343 | 1,901 | |||
* | Allena Pharmaceuticals Inc. | 1,431,198 | 1,861 | |||
*,1 | Lumos Pharma Inc. | 187,202 | 1,861 | |||
*,1 | Lucira Health Inc. | 278,942 | 1,852 | |||
*,1 | Biocept Inc. | 432,307 | 1,811 | |||
*,1 | LogicBio Therapeutics Inc. | 404,354 | 1,795 | |||
*,1 | Delcath Systems Inc. | 141,500 | 1,784 | |||
*,1 | Graybug Vision Inc. | 328,235 | 1,782 | |||
*,2 | Alder Biopharmaceuticals Inc. CVR Exp. 12/31/2024 | 2,021,007 | 1,778 | |||
*,1 | Baudax Bio Inc. | 2,335,417 | 1,777 | |||
*,1 | Reneo Pharmaceuticals Inc. | 189,721 | 1,770 | |||
*,1 | Brickell Biotech Inc. | 1,852,199 | 1,762 | |||
*,1 | AzurRx BioPharma Inc. | 2,104,129 | 1,725 | |||
* | Angion Biomedica Corp. | 131,267 | 1,709 | |||
*,1 | Checkmate Pharmaceuticals Inc. | 285,311 | 1,700 | |||
ProPhase Labs Inc. | 271,463 | 1,683 | ||||
*,1 | Aethlon Medical Inc. | 341,666 | 1,681 | |||
* | Predictive Oncology Inc. | 1,279,885 | 1,677 | |||
*,1 | 180 Life Sciences Corp. | 166,906 | 1,669 | |||
* | Kintara Therapeutics Inc. | 734,300 | 1,667 | |||
*,1 | Biomerica Inc. | 405,988 | 1,628 | |||
*,1 | Chembio Diagnostics Inc. | 546,834 | 1,624 | |||
* | Odonate Therapeutics Inc. | 448,887 | 1,567 | |||
* | Vivos Therapeutics Inc. | 305,692 | 1,513 | |||
*,1 | Regulus Therapeutics Inc. | 1,846,356 | 1,501 | |||
* | Aptevo Therapeutics Inc. | 66,078 | 1,482 | |||
*,1 | Pulmatrix Inc. | 1,417,015 | 1,474 | |||
* | Cellectar Biosciences Inc. | 1,203,237 | 1,432 | |||
*,1 | vTv Therapeutics Inc. Class A | 624,512 | 1,424 | |||
* | Plus Therapeutics Inc. | 553,422 | 1,417 |
Shares | Market Value ($000) | |||||
* | Metacrine Inc. | 368,053 | 1,399 | |||
* | Guardion Health Sciences Inc. | 787,301 | 1,386 | |||
* | Achieve Life Sciences Inc. | 153,000 | 1,374 | |||
* | Soleno Therapeutics Inc. | 1,199,839 | 1,368 | |||
* | Monte Rosa Therapeutics Inc. | 60,232 | 1,367 | |||
*,1 | NeuroBo Pharmaceuticals Inc. | 409,272 | 1,363 | |||
*,1 | Convey Holding Parent Inc. | 119,765 | 1,363 | |||
*,1 | Soligenix Inc. | 1,217,073 | 1,351 | |||
* | Longboard Pharmaceuticals Inc. | 147,707 | 1,347 | |||
*,1 | Vaccinex Inc. | 480,397 | 1,345 | |||
*,1 | Lyra Therapeutics Inc. | 167,320 | 1,344 | |||
*,1 | Cyclacel Pharmaceuticals Inc. | 220,159 | 1,303 | |||
* | Qualigen Therapeutics Inc. | 636,545 | 1,267 | |||
*,1 | OncoSec Medical Inc. | 435,110 | 1,223 | |||
* | Microbot Medical Inc. | 152,613 | 1,212 | |||
*,1 | Inhibikase Therapeutics Inc. | 423,920 | 1,187 | |||
*,1 | Windtree Therapeutics Inc. | 515,929 | 1,181 | |||
* | Opiant Pharmaceuticals Inc. | 83,570 | 1,157 | |||
*,1 | Ekso Bionics Holdings Inc. | 210,238 | 1,156 | |||
* | BioCardia Inc. | 290,085 | 1,152 | |||
* | Psychemedics Corp. | 165,302 | 1,150 | |||
*,1 | Salarius Pharmaceuticals Inc. | 1,084,223 | 1,149 | |||
* | Sensus Healthcare Inc. | 297,376 | 1,145 | |||
*,1 | Impel Neuropharma Inc. | 129,000 | 1,142 | |||
*,1 | SiNtx Technologies Inc. | 594,280 | 1,141 | |||
*,1 | Catabasis Pharmaceuticals Inc. | 531,751 | 1,122 | |||
*,1 | Timber Pharmaceuticals Inc. | 901,500 | 1,100 | |||
*,1 | Bellicum Pharmaceuticals Inc. | 330,239 | 1,090 | |||
* | BioVie Inc. Class A | 64,252 | 1,089 | |||
* | Bellerophon Therapeutics Inc. | 219,355 | 1,062 | |||
*,1 | Adial Pharmaceuticals Inc. | 413,103 | 1,053 | |||
* | Hancock Jaffe Laboratories Inc. | 151,150 | 1,038 | |||
*,1 | Evoke Pharma Inc. | 738,992 | 1,012 | |||
* | Imac Holdings Inc. | 507,548 | 1,005 | |||
* | Cyclo Therapeutics Inc. | 96,926 | 992 | |||
* | HTG Molecular Diagnostics Inc. | 170,198 | 989 | |||
*,1 | Sonnet BioTherapeutics Holdings Inc. | 604,763 | 956 | |||
*,1 | Idera Pharmaceuticals Inc. | 777,895 | 933 | |||
*,1 | IMARA Inc. | 117,914 | 932 | |||
*,1,2 | Tobira Therapeutics Inc. CVR Exp. 12/31/2028 | 201,001 | 911 | |||
*,1 | Helius Medical Technologies Inc. | 53,113 | 901 | |||
* | Cyteir Therapeutics Inc. | 41,899 | 897 | |||
* | NanoViricides Inc. | 190,396 | 883 | |||
*,1 | Hoth Therapeutics Inc. | 550,032 | 880 | |||
* | ARCA biopharma Inc. | 250,780 | 875 | |||
*,1 | Acorda Therapeutics Inc. | 183,278 | 874 | |||
* | Movano Inc. | 171,100 | 871 | |||
* | Alpha Teknova Inc. | 36,172 | 858 | |||
* | CVRx Inc. | 30,192 | 845 | |||
* | Longeveron Inc. Class A | 103,000 | 837 | |||
* | CNS Pharmaceuticals Inc. | 421,600 | 826 | |||
*,1 | GeoVax Labs Inc. | 164,944 | 825 | |||
*,1 | Navidea Biopharmaceuticals Inc. | 449,841 | 823 | |||
* | Strata Skin Sciences Inc. | 525,713 | 810 | |||
*,1 | Bio-Path Holdings Inc. | 120,948 | 807 | |||
* | Artelo Biosciences Inc. | 678,172 | 807 | |||
*,1 | INVO BioScience Inc. | 173,200 | 805 | |||
* | Cumberland Pharmaceuticals Inc. | 280,820 | 799 | |||
* | Palisade Bio Inc. | 196,196 | 799 | |||
* | Virios Therapeutics Inc. | 126,900 | 798 | |||
*,1 | Avenue Therapeutics Inc. | 314,396 | 789 |
Shares | Market Value ($000) | |||||
*,1 | Histogen Inc. | 698,612 | 761 | |||
* | Alimera Sciences Inc. | 83,422 | 759 | |||
* | Entasis Therapeutics Holdings Inc. | 282,759 | 755 | |||
*,1 | Jupiter Wellness Inc. | 167,629 | 751 | |||
* | ImmuCell Corp. | 78,914 | 750 | |||
* | Nuwellis Inc. | 170,600 | 717 | |||
*,1 | AgeX Therapeutics Inc. | 426,190 | 661 | |||
* | Codex DNA Inc. | 29,963 | 659 | |||
*,1 | Novo Integrated Sciences Inc. | 255,940 | 642 | |||
* | Aridis Pharmaceuticals Inc. | 82,032 | 607 | |||
* | TRxADE HEALTH Inc. | 128,731 | 568 | |||
* | Armata Pharmaceuticals Inc. | 142,866 | 567 | |||
* | Panbela Therapeutics Inc. | 196,349 | 556 | |||
*,1 | Graphite Bio Inc. | 18,092 | 556 | |||
* | Nephros Inc. | 51,866 | 538 | |||
* | Century Therapeutics Inc. | 17,974 | 527 | |||
*,1 | Kiromic BioPharma Inc. | 108,890 | 524 | |||
* | Daxor Corp. | 47,328 | 502 | |||
* | Elevation Oncology Inc. | 36,128 | 490 | |||
* | ThermoGenesis Holdings Inc. | 182,545 | 484 | |||
*,1 | Tempest Therapeutics Inc. | 43,052 | 481 | |||
*,1 | Janux Therapeutics Inc. | 17,376 | 434 | |||
* | Rezolute Inc. | 29,390 | 419 | |||
*,1 | Aziyo Biologics Inc. Class A | 42,872 | 412 | |||
* | Vera Therapeutics Inc. Class A | 29,590 | 392 | |||
* | Tenax Therapeutics Inc. | 178,455 | 387 | |||
*,1 | Titan Pharmaceuticals Inc. | 131,533 | 342 | |||
* | Phio Pharmaceuticals Corp. | 141,370 | 319 | |||
* | Acer Therapeutics Inc. | 108,384 | 310 | |||
*,1 | RA Medical Systems Inc. | 70,816 | 309 | |||
* | Monopar Therapeutics Inc. | 52,392 | 309 | |||
* | EyeGate Pharmaceuticals Inc. | 84,227 | 307 | |||
* | Finch Therapeutics Group Inc. | 21,299 | 300 | |||
*,2 | Aduro Biotech Inc. CVR | 415,255 | 249 | |||
*,1 | Werewolf Therapeutics Inc. | 12,078 | 211 | |||
*,1 | Aditx Therapeutics Inc. | 78,535 | 203 | |||
*,2 | Ocera Therapeutics Inc. CVR | 653,477 | 176 | |||
Petros Pharmaceuticals Inc. | 43,424 | 137 | ||||
* | American Shared Hospital Services | 36,338 | 106 | |||
* | Aerovate Therapeutics Inc. | 4,611 | 105 | |||
* | Lixte Biotechnology Holdings Inc. | 25,995 | 79 | |||
* | NovaBay Pharmaceuticals Inc. | 111,492 | 75 | |||
* | Trevi Therapeutics Inc. | 32,341 | 73 | |||
*,2 | OncoMed Pharmaceuticals Inc. CVR | 255,777 | 67 | |||
* | Geron Corp. Warrants Exp. 12/31/2025 | 1,202,419 | 66 | |||
* | Kadmon Holdings Inc. Warrants Exp. 09/28/2022 | 169,257 | 35 | |||
*,1 | Miragen Therapeutics Inc. CVR | 1,753,041 | 35 | |||
* | PRA Health Sciences Inc. | 155 | 26 | |||
*,2 | Elanco Animal Health Inc. CVR | 575,457 | 15 | |||
*,1,2 | Oncternal Therapeutics Inc. CVR | 8,933 | 9 | |||
*,2 | F-star Therapeutics Inc. CVR | 61,021 | 4 | |||
* | Sonoma Pharmaceuticals Inc. | 384 | 3 | |||
*,2 | Ambit Biosciences Corp. CVR | 201,330 | — | |||
*,2 | Biosante Pharmaceutical Inc. CVR | 253,823 | — | |||
*,1,2 | Synergy Pharmaceuticals LLC | 5,148,145 | — | |||
* | Advaxis Inc. Warrants Exp. 09/11/2024 | 157,660 | — | |||
*,2 | Lantheus Holdings Inc. CVR | 2,319,511 | — | |||
163,657,567 | ||||||
Industrials (13.82%) | ||||||
Visa Inc. Class A | 47,563,683 | 11,121,340 | ||||
* | PayPal Holdings Inc. | 33,182,311 | 9,671,980 |
Shares | Market Value ($000) | |||||
Mastercard Inc. Class A | 24,988,092 | 9,122,903 | ||||
Accenture plc Class A | 17,954,321 | 5,292,754 | ||||
Honeywell International Inc. | 19,616,921 | 4,302,972 | ||||
United Parcel Service Inc. Class B | 20,431,986 | 4,249,240 | ||||
Union Pacific Corp. | 18,762,596 | 4,126,458 | ||||
* | Boeing Co. | 16,518,567 | 3,957,188 | |||
Raytheon Technologies Corp. | 42,790,507 | 3,650,458 | ||||
Caterpillar Inc. | 15,473,038 | 3,367,397 | ||||
General Electric Co. | 247,979,822 | 3,337,808 | ||||
3M Co. | 16,373,850 | 3,252,338 | ||||
American Express Co. | 17,016,422 | 2,811,623 | ||||
Deere & Co. | 7,968,405 | 2,810,536 | ||||
* | Square Inc. Class A | 11,073,790 | 2,699,790 | |||
Lockheed Martin Corp. | 6,671,978 | 2,524,343 | ||||
Fidelity National Information Services Inc. | 17,516,770 | 2,481,601 | ||||
Automatic Data Processing Inc. | 12,009,650 | 2,385,357 | ||||
CSX Corp. | 64,175,345 | 2,058,745 | ||||
FedEx Corp. | 6,746,940 | 2,012,815 | ||||
Capital One Financial Corp. | 12,754,012 | 1,972,918 | ||||
Norfolk Southern Corp. | 7,067,916 | 1,875,896 | ||||
Sherwin-Williams Co. | 6,760,351 | 1,841,858 | ||||
* | Fiserv Inc. | 16,932,490 | 1,809,914 | |||
Illinois Tool Works Inc. | 8,026,407 | 1,794,384 | ||||
Eaton Corp. plc | 11,255,276 | 1,667,807 | ||||
Emerson Electric Co. | 16,938,261 | 1,630,138 | ||||
Global Payments Inc. | 8,339,869 | 1,564,059 | ||||
Northrop Grumman Corp. | 4,092,096 | 1,487,190 | ||||
Johnson Controls International plc | 20,247,671 | 1,389,598 | ||||
General Dynamics Corp. | 6,783,641 | 1,277,088 | ||||
L3Harris Technologies Inc. | 5,791,026 | 1,251,730 | ||||
Trane Technologies plc | 6,755,288 | 1,243,919 | ||||
Carrier Global Corp. | 24,548,120 | 1,193,039 | ||||
DuPont de Nemours Inc. | 15,030,242 | 1,163,491 | ||||
IHS Markit Ltd. | 10,132,533 | 1,141,531 | ||||
PPG Industries Inc. | 6,696,999 | 1,136,950 | ||||
Parker-Hannifin Corp. | 3,645,358 | 1,119,526 | ||||
Cummins Inc. | 4,130,692 | 1,007,104 | ||||
Otis Worldwide Corp. | 12,122,970 | 991,295 | ||||
Paychex Inc. | 9,165,001 | 983,405 | ||||
Cintas Corp. | 2,523,139 | 963,839 | ||||
* | TransDigm Group Inc. | 1,473,398 | 953,716 | |||
Rockwell Automation Inc. | 3,279,273 | 937,938 | ||||
Stanley Black & Decker Inc. | 4,561,669 | 935,097 | ||||
* | Mettler-Toledo International Inc. | 657,390 | 910,709 | |||
PACCAR Inc. | 9,806,546 | 875,234 | ||||
AMETEK Inc. | 6,522,046 | 870,693 | ||||
Equifax Inc. | 3,438,338 | 823,516 | ||||
* | Keysight Technologies Inc. | 5,213,581 | 805,029 | |||
* | Zebra Technologies Corp. Class A | 1,511,894 | 800,533 | |||
Verisk Analytics Inc. | 4,579,041 | 800,050 | ||||
Synchrony Financial | 16,374,337 | 794,483 | ||||
Ball Corp. | 9,276,525 | 751,584 | ||||
Old Dominion Freight Line Inc. | 2,949,199 | 748,507 | ||||
* | Generac Holdings Inc. | 1,778,998 | 738,551 | |||
Kansas City Southern | 2,569,387 | 728,087 | ||||
Vulcan Materials Co. | 3,748,374 | 652,479 | ||||
* | United Rentals Inc. | 2,045,251 | 652,456 | |||
Fortive Corp. | 9,084,422 | 633,548 | ||||
Martin Marietta Materials Inc. | 1,762,158 | 619,945 | ||||
Dover Corp. | 4,065,211 | 612,221 | ||||
Xylem Inc. | 5,086,915 | 610,226 |
Shares | Market Value ($000) | |||||
Expeditors International of Washington Inc. | 4,773,222 | 604,290 | ||||
* | FleetCor Technologies Inc. | 2,355,055 | 603,035 | |||
* | Waters Corp. | 1,742,995 | 602,397 | |||
TransUnion | 5,404,201 | 593,435 | ||||
* | Trimble Inc. | 7,092,646 | 580,391 | |||
* | Teledyne Technologies Inc. | 1,314,786 | 550,672 | |||
WW Grainger Inc. | 1,251,333 | 548,084 | ||||
* | Ingersoll Rand Inc. | 10,668,891 | 520,749 | |||
Jacobs Engineering Group Inc. | 3,678,126 | 490,736 | ||||
IDEX Corp. | 2,143,438 | 471,664 | ||||
Textron Inc. | 6,375,963 | 438,475 | ||||
Masco Corp. | 7,167,555 | 422,241 | ||||
Westinghouse Air Brake Technologies Corp. | 5,071,566 | 417,390 | ||||
* | Bill.com Holdings Inc. | 2,231,640 | 408,792 | |||
Westrock Co. | 7,526,687 | 400,570 | ||||
Cognex Corp. | 4,740,731 | 398,458 | ||||
Fortune Brands Home & Security Inc. | 3,916,268 | 390,099 | ||||
Crown Holdings Inc. | 3,812,536 | 389,679 | ||||
JB Hunt Transport Services Inc. | 2,388,250 | 389,165 | ||||
* | Fair Isaac Corp. | 772,656 | 388,399 | |||
* | XPO Logistics Inc. | 2,742,003 | 383,579 | |||
* | Howmet Aerospace Inc. | 11,044,048 | 380,688 | |||
Packaging Corp. of America | 2,683,939 | 363,459 | ||||
Graco Inc. | 4,783,082 | 362,079 | ||||
Quanta Services Inc. | 3,939,686 | 356,817 | ||||
Allegion plc | 2,541,368 | 354,013 | ||||
CH Robinson Worldwide Inc. | 3,758,175 | 352,028 | ||||
HEICO Corp. Class A | 2,770,992 | 344,102 | ||||
Jack Henry & Associates Inc. | 2,099,808 | 343,340 | ||||
Snap-on Inc. | 1,527,677 | 341,329 | ||||
Lennox International Inc. | 960,329 | 336,883 | ||||
Toro Co. | 3,039,460 | 333,976 | ||||
* | Trex Co. Inc. | 3,259,852 | 333,189 | |||
Booz Allen Hamilton Holding Corp. Class A | 3,824,828 | 325,799 | ||||
RPM International Inc. | 3,655,595 | 324,178 | ||||
Nordson Corp. | 1,476,196 | 324,040 | ||||
* | Axon Enterprise Inc. | 1,825,164 | 322,689 | |||
Pentair plc | 4,693,236 | 316,746 | ||||
* | Mohawk Industries Inc. | 1,575,547 | 302,804 | |||
Owens Corning | 2,951,815 | 288,983 | ||||
Hubbell Inc. Class B | 1,534,221 | 286,654 | ||||
Carlisle Cos. Inc. | 1,474,949 | 282,276 | ||||
MKS Instruments Inc. | 1,565,433 | 278,569 | ||||
A O Smith Corp. | 3,800,725 | 273,880 | ||||
* | Middleby Corp. | 1,571,746 | 272,321 | |||
Robert Half International Inc. | 3,026,843 | 269,298 | ||||
Watsco Inc. | 929,661 | 266,478 | ||||
Western Union Co. | 11,570,592 | 265,777 | ||||
* | AECOM | 4,137,905 | 262,012 | |||
AptarGroup Inc. | 1,851,138 | 260,714 | ||||
* | Sensata Technologies Holding plc | 4,467,353 | 258,972 | |||
Sealed Air Corp. | 4,298,285 | 254,673 | ||||
* | Builders FirstSource Inc. | 5,848,127 | 249,481 | |||
* | Berry Global Group Inc. | 3,811,566 | 248,590 | |||
* | WEX Inc. | 1,258,414 | 244,006 | |||
Oshkosh Corp. | 1,939,675 | 241,761 | ||||
Genpact Ltd. | 5,295,517 | 240,575 | ||||
Huntington Ingalls Industries Inc. | 1,128,359 | 237,802 | ||||
Donaldson Co. Inc. | 3,560,582 | 226,204 | ||||
ITT Inc. | 2,432,043 | 222,751 | ||||
AGCO Corp. | 1,703,393 | 222,088 |
Shares | Market Value ($000) | |||||
Lincoln Electric Holdings Inc. | 1,682,114 | 221,551 | ||||
Brunswick Corp. | 2,203,524 | 219,515 | ||||
Woodward Inc. | 1,707,328 | 209,796 | ||||
* | Paylocity Holding Corp. | 1,080,079 | 206,079 | |||
*,1 | Virgin Galactic Holdings Inc. | 4,418,746 | 203,262 | |||
* | Euronet Worldwide Inc. | 1,418,439 | 191,986 | |||
Knight-Swift Transportation Holdings Inc. Class A | 4,210,178 | 191,395 | ||||
Sonoco Products Co. | 2,850,290 | 190,684 | ||||
EMCOR Group Inc. | 1,543,142 | 190,100 | ||||
* | Axalta Coating Systems Ltd. | 6,192,451 | 188,808 | |||
Acuity Brands Inc. | 1,009,224 | 188,755 | ||||
Tetra Tech Inc. | 1,531,251 | 186,874 | ||||
* | TopBuild Corp. | 934,828 | 184,890 | |||
* | Coherent Inc. | 693,295 | 183,266 | |||
ManpowerGroup Inc. | 1,540,928 | 183,232 | ||||
MDU Resources Group Inc. | 5,703,576 | 178,750 | ||||
* | WillScot Mobile Mini Holdings Corp. | 6,386,720 | 177,998 | |||
Littelfuse Inc. | 694,676 | 176,996 | ||||
Advanced Drainage Systems Inc. | 1,511,609 | 176,208 | ||||
Louisiana-Pacific Corp. | 2,893,357 | 174,440 | ||||
Landstar System Inc. | 1,084,332 | 171,346 | ||||
Eagle Materials Inc. | 1,197,441 | 170,168 | ||||
* | MasTec Inc. | 1,576,391 | 167,255 | |||
MSA Safety Inc. | 997,006 | 165,084 | ||||
Rexnord Corp. | 3,215,497 | 160,903 | ||||
BWX Technologies Inc. | 2,691,148 | 156,410 | ||||
* | Saia Inc. | 745,042 | 156,079 | |||
Vontier Corp. | 4,771,848 | 155,467 | ||||
Regal Beloit Corp. | 1,148,887 | 153,388 | ||||
Maximus Inc. | 1,737,007 | 152,805 | ||||
KBR Inc. | 3,991,554 | 152,278 | ||||
* | Chart Industries Inc. | 1,026,568 | 150,207 | |||
* | Colfax Corp. | 3,244,363 | 148,624 | |||
Flowserve Corp. | 3,685,125 | 148,584 | ||||
nVent Electric plc | 4,737,988 | 148,015 | ||||
* | WESCO International Inc. | 1,418,487 | 145,849 | |||
Armstrong World Industries Inc. | 1,354,431 | 145,276 | ||||
Graphic Packaging Holding Co. | 7,930,558 | 143,860 | ||||
Valmont Industries Inc. | 601,250 | 141,925 | ||||
Spirit AeroSystems Holdings Inc. Class A | 2,980,826 | 140,665 | ||||
Alliance Data Systems Corp. | 1,336,119 | 139,210 | ||||
* | ASGN Inc. | 1,425,788 | 138,202 | |||
Curtiss-Wright Corp. | 1,160,719 | 137,847 | ||||
Simpson Manufacturing Co. Inc. | 1,227,399 | 135,554 | ||||
* | FTI Consulting Inc. | 965,939 | 131,957 | |||
Exponent Inc. | 1,461,343 | 130,366 | ||||
* | AZEK Co. Inc. Class A | 3,064,412 | 130,115 | |||
* | AMN Healthcare Services Inc. | 1,338,860 | 129,843 | |||
Crane Co. | 1,402,441 | 129,543 | ||||
John Bean Technologies Corp. | 896,903 | 127,916 | ||||
Air Lease Corp. Class A | 3,063,079 | 127,853 | ||||
* | Itron Inc. | 1,271,073 | 127,082 | |||
Allison Transmission Holdings Inc. | 3,097,890 | 123,110 | ||||
* | Resideo Technologies Inc. | 4,069,709 | 122,091 | |||
Altra Industrial Motion Corp. | 1,834,566 | 119,283 | ||||
EnerSys | 1,211,608 | 118,410 | ||||
* | ACI Worldwide Inc. | 3,152,743 | 117,093 | |||
* | Summit Materials Inc. Class A | 3,279,362 | 114,286 | |||
Watts Water Technologies Inc. Class A | 777,804 | 113,489 | ||||
MSC Industrial Direct Co. Inc. Class A | 1,261,169 | 113,165 | ||||
Korn Ferry | 1,525,317 | 110,662 |
Shares | Market Value ($000) | |||||
* | Shift4 Payments Inc. Class A | 1,157,289 | 108,461 | |||
Brink's Co. | 1,405,988 | 108,036 | ||||
Ryder System Inc. | 1,449,513 | 107,742 | ||||
* | Mercury Systems Inc. | 1,592,941 | 105,580 | |||
* | Kirby Corp. | 1,704,462 | 103,359 | |||
Aerojet Rocketdyne Holdings Inc. | 2,123,352 | 102,537 | ||||
UniFirst Corp. | 432,060 | 101,379 | ||||
Applied Industrial Technologies Inc. | 1,100,097 | 100,175 | ||||
Triton International Ltd. | 1,912,601 | 100,106 | ||||
* | Kratos Defense & Security Solutions Inc. | 3,487,975 | 99,372 | |||
*,1 | Bloom Energy Corp. Class A | 3,679,729 | 98,874 | |||
*,1 | Affirm Holdings Inc. Class A | 1,457,983 | 98,195 | |||
* | ExlService Holdings Inc. | 904,496 | 96,112 | |||
Silgan Holdings Inc. | 2,302,199 | 95,541 | ||||
* | Atkore Inc. | 1,324,942 | 94,071 | |||
HB Fuller Co. | 1,471,960 | 93,631 | ||||
Insperity Inc. | 1,028,582 | 92,953 | ||||
*,1 | Nikola Corp. | 5,004,355 | 90,379 | |||
Terex Corp. | 1,877,909 | 89,426 | ||||
Franklin Electric Co. Inc. | 1,105,558 | 89,130 | ||||
EVERTEC Inc. | 2,041,213 | 89,099 | ||||
GATX Corp. | 994,750 | 88,006 | ||||
HEICO Corp. | 618,783 | 86,271 | ||||
Kennametal Inc. | 2,367,703 | 85,048 | ||||
ABM Industries Inc. | 1,904,315 | 84,456 | ||||
Hillenbrand Inc. | 1,907,969 | 84,103 | ||||
* | Beacon Roofing Supply Inc. | 1,577,921 | 84,024 | |||
*,1 | Marathon Digital Holdings Inc. | 2,669,530 | 83,743 | |||
* | Welbilt Inc. | 3,611,112 | 83,597 | |||
Installed Building Products Inc. | 676,475 | 82,773 | ||||
*,5 | API Group Corp. | 3,956,166 | 82,644 | |||
Badger Meter Inc. | 829,632 | 81,403 | ||||
* | TriNet Group Inc. | 1,122,305 | 81,345 | |||
Macquarie Infrastructure Corp. | 2,115,980 | 80,979 | ||||
* | Herc Holdings Inc. | 703,314 | 78,820 | |||
SPX FLOW Inc. | 1,198,239 | 78,173 | ||||
Matson Inc. | 1,219,635 | 78,057 | ||||
Albany International Corp. Class A | 872,145 | 77,848 | ||||
* | Masonite International Corp. | 696,365 | 77,847 | |||
* | CryoPort Inc. | 1,225,033 | 77,300 | |||
Maxar Technologies Inc. | 1,935,469 | 77,264 | ||||
Comfort Systems USA Inc. | 979,386 | 77,166 | ||||
* | Allegheny Technologies Inc. | 3,614,490 | 75,362 | |||
* | SPX Corp. | 1,220,407 | 74,542 | |||
AAON Inc. | 1,187,959 | 74,355 | ||||
* | O-I Glass Inc. | 4,480,723 | 73,170 | |||
Brady Corp. Class A | 1,303,372 | 73,041 | ||||
Werner Enterprises Inc. | 1,633,887 | 72,741 | ||||
* | Proto Labs Inc. | 787,296 | 72,274 | |||
* | Fluor Corp. | 4,018,692 | 71,131 | |||
* | Gibraltar Industries Inc. | 926,920 | 70,733 | |||
Forward Air Corp. | 781,801 | 70,167 | ||||
Barnes Group Inc. | 1,366,620 | 70,039 | ||||
Trinity Industries Inc. | 2,602,278 | 69,975 | ||||
Moog Inc. Class A | 831,967 | 69,935 | ||||
* | Green Dot Corp. Class A | 1,464,342 | 68,604 | |||
Federal Signal Corp. | 1,701,356 | 68,446 | ||||
ManTech International Corp. Class A | 771,869 | 66,798 | ||||
* | AeroVironment Inc. | 659,217 | 66,021 | |||
ESCO Technologies Inc. | 702,359 | 65,888 | ||||
Helios Technologies Inc. | 825,724 | 64,448 |
Shares | Market Value ($000) | |||||
Mueller Water Products Inc. Class A | 4,447,966 | 64,140 | ||||
Belden Inc. | 1,260,674 | 63,752 | ||||
* | JELD-WEN Holding Inc. | 2,399,751 | 63,017 | |||
* | Navistar International Corp. | 1,404,936 | 62,520 | |||
* | Dycom Industries Inc. | 828,344 | 61,736 | |||
* | Vicor Corp. | 580,673 | 61,400 | |||
* | Hub Group Inc. Class A | 895,581 | 59,090 | |||
* | Sykes Enterprises Inc. | 1,099,506 | 59,043 | |||
Raven Industries Inc. | 1,012,442 | 58,570 | ||||
Otter Tail Corp. | 1,180,926 | 57,641 | ||||
Deluxe Corp. | 1,200,069 | 57,327 | ||||
EnPro Industries Inc. | 585,765 | 56,907 | ||||
* | Verra Mobility Corp. Class A | 3,695,452 | 56,799 | |||
Kadant Inc. | 321,510 | 56,615 | ||||
*,1 | TuSimple Holdings Inc. Class A | 784,135 | 55,862 | |||
McGrath RentCorp | 680,925 | 55,543 | ||||
* | Atlas Air Worldwide Holdings Inc. | 813,690 | 55,420 | |||
* | GMS Inc. | 1,139,732 | 54,867 | |||
TTEC Holdings Inc. | 523,185 | 53,935 | ||||
Granite Construction Inc. | 1,289,078 | 53,535 | ||||
*,1 | PureCycle Technologies Inc. | 2,261,758 | 53,491 | |||
Greif Inc. Class A | 859,026 | 52,014 | ||||
*,1 | Workhorse Group Inc. | 3,130,526 | 51,935 | |||
CSW Industrials Inc. | 436,220 | 51,675 | ||||
* | Ferro Corp. | 2,343,313 | 50,545 | |||
Lindsay Corp. | 303,302 | 50,130 | ||||
* | Repay Holdings Corp. Class A | 2,044,432 | 49,148 | |||
* | Cimpress plc | 444,558 | 48,195 | |||
* | Meritor Inc. | 2,046,937 | 47,939 | |||
* | OSI Systems Inc. | 468,930 | 47,662 | |||
Alamo Group Inc. | 309,750 | 47,293 | ||||
ADT Inc. | 4,325,758 | 46,675 | ||||
* | CBIZ Inc. | 1,410,307 | 46,216 | |||
Patrick Industries Inc. | 632,355 | 46,162 | ||||
*,1 | Desktop Metal Inc. Class A | 3,963,475 | 45,580 | |||
Enerpac Tool Group Corp. Class A | 1,711,339 | 45,556 | ||||
*,1 | Danimer Scientific Inc. | 1,818,203 | 45,546 | |||
ICF International Inc. | 502,017 | 44,107 | ||||
*,1 | BTRS Holdings Inc. | 3,364,490 | 42,460 | |||
Primoris Services Corp. | 1,433,456 | 42,187 | ||||
Encore Wire Corp. | 548,232 | 41,551 | ||||
Tennant Co. | 507,398 | 40,516 | ||||
* | MYR Group Inc. | 444,072 | 40,375 | |||
ArcBest Corp. | 678,974 | 39,509 | ||||
* | American Woodmark Corp. | 478,785 | 39,112 | |||
* | FARO Technologies Inc. | 501,671 | 39,015 | |||
Astec Industries Inc. | 612,999 | 38,582 | ||||
Kaman Corp. | 765,384 | 38,575 | ||||
* | Air Transport Services Group Inc. | 1,659,450 | 38,549 | |||
Griffon Corp. | 1,498,370 | 38,403 | ||||
*,1 | Marqeta Inc. Class A | 1,362,693 | 38,251 | |||
* | TriMas Corp. | 1,230,863 | 37,332 | |||
Mesa Laboratories Inc. | 136,330 | 36,969 | ||||
AZZ Inc. | 713,725 | 36,957 | ||||
* | ZipRecruiter Inc. Class A | 1,467,046 | 36,647 | |||
* | PGT Innovations Inc. | 1,572,750 | 36,535 | |||
* | Evo Payments Inc. Class A | 1,314,545 | 36,465 | |||
* | AAR Corp. | 935,454 | 36,249 | |||
Columbus McKinnon Corp. | 743,622 | 35,872 | ||||
* | Triumph Group Inc. | 1,716,691 | 35,621 | |||
Shyft Group Inc. | 950,474 | 35,557 |
Shares | Market Value ($000) | |||||
Greenbrier Cos. Inc. | 791,655 | 34,500 | ||||
*,1 | Hyliion Holdings Corp. | 2,922,727 | 34,050 | |||
Kforce Inc. | 539,109 | 33,926 | ||||
* | NV5 Global Inc. | 358,828 | 33,913 | |||
* | Hayward Holdings Inc. | 1,298,042 | 33,775 | |||
* | Conduent Inc. | 4,494,729 | 33,710 | |||
* | US Concrete Inc. | 454,253 | 33,524 | |||
Standex International Corp. | 351,795 | 33,389 | ||||
Schneider National Inc. Class B | 1,478,601 | 32,189 | ||||
* | Huron Consulting Group Inc. | 647,949 | 31,847 | |||
* | Montrose Environmental Group Inc. | 586,968 | 31,497 | |||
* | Energy Recovery Inc. | 1,359,324 | 30,965 | |||
* | Ranpak Holdings Corp. Class A | 1,209,273 | 30,268 | |||
* | Lydall Inc. | 487,783 | 29,521 | |||
* | Cornerstone Building Brands Inc. | 1,603,906 | 29,159 | |||
H&E Equipment Services Inc. | 873,993 | 29,078 | ||||
* | Construction Partners Inc. Class A | 914,839 | 28,726 | |||
* | TrueBlue Inc. | 1,019,369 | 28,654 | |||
*,1 | Velodyne Lidar Inc. | 2,672,435 | 28,435 | |||
Apogee Enterprises Inc. | 689,634 | 28,089 | ||||
Marten Transport Ltd. | 1,601,345 | 26,406 | ||||
* | Veritiv Corp. | 426,929 | 26,222 | |||
* | Donnelley Financial Solutions Inc. | 791,544 | 26,121 | |||
CAI International Inc. | 453,998 | 25,424 | ||||
Douglas Dynamics Inc. | 623,414 | 25,367 | ||||
* | Great Lakes Dredge & Dock Corp. | 1,710,436 | 24,989 | |||
Heidrick & Struggles International Inc. | 557,731 | 24,847 | ||||
* | Advantage Solutions Inc. | 2,236,634 | 24,133 | |||
* | Kelly Services Inc. Class A | 976,018 | 23,395 | |||
Quanex Building Products Corp. | 941,246 | 23,381 | ||||
*,1 | View Inc. | 2,745,486 | 23,282 | |||
* | Manitowoc Co. Inc. | 939,338 | 23,014 | |||
Heartland Express Inc. | 1,338,215 | 22,924 | ||||
* | Echo Global Logistics Inc. | 742,014 | 22,810 | |||
* | Aspen Aerogels Inc. | 747,248 | 22,358 | |||
* | Gates Industrial Corp. plc | 1,233,403 | 22,288 | |||
Chase Corp. | 215,808 | 22,144 | ||||
* | Modine Manufacturing Co. | 1,333,612 | 22,125 | |||
Wabash National Corp. | 1,376,776 | 22,028 | ||||
Myers Industries Inc. | 1,048,249 | 22,013 | ||||
* | Paya Holdings Inc. Class A | 1,970,068 | 21,710 | |||
Hyster-Yale Materials Handling Inc. | 285,978 | 20,871 | ||||
Gorman-Rupp Co. | 593,242 | 20,431 | ||||
Argan Inc. | 425,721 | 20,345 | ||||
* | SP Plus Corp. | 661,461 | 20,234 | |||
* | Forterra Inc. | 836,601 | 19,668 | |||
* | Cantaloupe Inc. | 1,593,057 | 18,894 | |||
* | BrightView Holdings Inc. | 1,162,020 | 18,732 | |||
* | CIRCOR International Inc. | 566,549 | 18,469 | |||
* | Sterling Construction Co. Inc. | 749,317 | 18,081 | |||
*,1 | Blade Air Mobility Inc. | 1,650,136 | 17,326 | |||
CRA International Inc. | 201,915 | 17,284 | ||||
Cass Information Systems Inc. | 422,382 | 17,212 | ||||
* | Titan Machinery Inc. | 550,640 | 17,037 | |||
*,1 | Eos Energy Enterprises Inc. | 938,428 | 16,854 | |||
* | Cross Country Healthcare Inc. | 1,019,510 | 16,832 | |||
* | Ducommun Inc. | 303,947 | 16,583 | |||
Insteel Industries Inc. | 513,330 | 16,504 | ||||
* | Thermon Group Holdings Inc. | 952,869 | 16,237 | |||
* | DXP Enterprises Inc. | 482,596 | 16,070 | |||
Ennis Inc. | 728,002 | 15,667 |
Shares | Market Value ($000) | |||||
* | Tutor Perini Corp. | 1,130,076 | 15,652 | |||
* | Vivint Smart Home Inc. | 1,176,400 | 15,528 | |||
National Presto Industries Inc. | 150,214 | 15,269 | ||||
* | Napco Security Technologies Inc. | 418,132 | 15,207 | |||
* | PAE Inc. | 1,704,528 | 15,170 | |||
Barrett Business Services Inc. | 206,890 | 15,022 | ||||
Pactiv Evergreen Inc. | 994,777 | 14,991 | ||||
* | Transcat Inc. | 265,087 | 14,980 | |||
* | Vectrus Inc. | 313,147 | 14,903 | |||
* | Forrester Research Inc. | 324,708 | 14,872 | |||
REV Group Inc. | 920,654 | 14,445 | ||||
VSE Corp. | 291,463 | 14,430 | ||||
* | International Money Express Inc. | 910,441 | 13,520 | |||
*,1 | Eagle Bulk Shipping Inc. | 281,146 | 13,304 | |||
* | Franklin Covey Co. | 410,164 | 13,269 | |||
International Seaways Inc. | 691,489 | 13,263 | ||||
* | BlueLinx Holdings Inc. | 261,693 | 13,158 | |||
Resources Connection Inc. | 901,901 | 12,951 | ||||
* | First Advantage Corp. | 643,845 | 12,819 | |||
Miller Industries Inc. | 315,992 | 12,463 | ||||
* | RR Donnelley & Sons Co. | 1,931,905 | 12,132 | |||
* | Vishay Precision Group Inc. | 355,802 | 12,112 | |||
* | Titan International Inc. | 1,427,504 | 12,105 | |||
Allied Motion Technologies Inc. | 349,796 | 12,078 | ||||
*,1 | TaskUS Inc. Class A | 350,090 | 11,987 | |||
* | Willdan Group Inc. | 317,582 | 11,954 | |||
* | Babcock & Wilcox Enterprises Inc. | 1,473,372 | 11,610 | |||
* | IES Holdings Inc. | 224,702 | 11,541 | |||
* | ShotSpotter Inc. | 236,401 | 11,529 | |||
* | Astronics Corp. | 650,821 | 11,396 | |||
* | Blue Bird Corp. | 455,720 | 11,329 | |||
Information Services Group Inc. | 1,907,076 | 11,156 | ||||
* | GreenSky Inc. Class A | 1,983,362 | 11,008 | |||
* | I3 Verticals Inc. Class A | 359,663 | 10,869 | |||
*,1 | ExOne Co. | 500,558 | 10,832 | |||
*,1 | Latch Inc. | 877,131 | 10,762 | |||
*,1 | Paymentus Holdings Inc. Class A | 283,893 | 10,078 | |||
* | Flywire Corp. | 271,261 | 9,966 | |||
Kronos Worldwide Inc. | 689,516 | 9,874 | ||||
* | Commercial Vehicle Group Inc. | 924,539 | 9,828 | |||
*,1 | Custom Truck One Source Inc. | 1,027,653 | 9,783 | |||
*,1 | Lightning eMotors Inc. | 1,102,423 | 9,161 | |||
* | Daseke Inc. | 1,402,247 | 9,087 | |||
* | Yellow Corp. | 1,394,417 | 9,078 | |||
* | Acacia Research Corp. | 1,298,563 | 8,778 | |||
* | Rekor Systems Inc. | 843,957 | 8,575 | |||
* | Luna Innovations Inc. | 773,993 | 8,382 | |||
* | Iteris Inc. | 1,233,168 | 8,201 | |||
*,1 | AgEagle Aerial Systems Inc. | 1,556,200 | 8,201 | |||
Park Aerospace Corp. | 538,726 | 8,027 | ||||
Powell Industries Inc. | 257,189 | 7,960 | ||||
* | Diamond S Shipping Inc. | 784,300 | 7,812 | |||
* | Atlanticus Holdings Corp. | 192,515 | 7,643 | |||
* | Infrastructure & Energy Alternatives Inc. | 593,965 | 7,638 | |||
Park-Ohio Holdings Corp. | 236,158 | 7,590 | ||||
* | Radiant Logistics Inc. | 1,069,177 | 7,409 | |||
* | Atlas Technical Consultants Inc. Class A | 751,540 | 7,275 | |||
* | Covenant Logistics Group Inc. Class A | 347,048 | 7,177 | |||
*,1 | Byrna Technologies Inc. | 312,800 | 7,107 | |||
United States Lime & Minerals Inc. | 50,504 | 7,025 | ||||
* | Lawson Products Inc. | 127,381 | 6,816 |
Shares | Market Value ($000) | |||||
* | GP Strategies Corp. | 416,719 | 6,551 | |||
* | Concrete Pumping Holdings Inc. | 736,435 | 6,238 | |||
Preformed Line Products Co. | 83,618 | 6,204 | ||||
* | CECO Environmental Corp. | 842,345 | 6,031 | |||
Hurco Cos. Inc. | 168,174 | 5,886 | ||||
LSI Industries Inc. | 727,944 | 5,831 | ||||
* | US Xpress Enterprises Inc. Class A | 673,204 | 5,790 | |||
* | Team Inc. | 847,021 | 5,675 | |||
Universal Logistics Holdings Inc. | 238,095 | 5,548 | ||||
*,1 | HC2 Holdings Inc. | 1,370,804 | 5,456 | |||
*,1 | Agrify Corp. | 446,577 | 5,314 | |||
* | Horizon Global Corp. | 626,103 | 5,309 | |||
*,1 | MICT Inc. | 2,232,531 | 5,224 | |||
* | Mistras Group Inc. | 523,821 | 5,149 | |||
*,1 | Wrap Technologies Inc. | 640,156 | 5,025 | |||
* | L B Foster Co. Class A | 265,312 | 4,945 | |||
* | Mayville Engineering Co. Inc. | 239,410 | 4,815 | |||
* | PFSweb Inc. | 650,605 | 4,801 | |||
*,1 | Orion Energy Systems Inc. | 831,757 | 4,766 | |||
*,1 | Energous Corp. | 1,659,791 | 4,764 | |||
* | Gencor Industries Inc. | 387,190 | 4,708 | |||
* | Twin Disc Inc. | 326,599 | 4,648 | |||
* | Orion Group Holdings Inc. | 803,116 | 4,618 | |||
* | DHI Group Inc. | 1,365,869 | 4,617 | |||
* | StarTek Inc. | 630,353 | 4,494 | |||
* | Overseas Shipholding Group Inc. Class A | 2,148,404 | 4,490 | |||
*,1 | IZEA Worldwide Inc. | 1,750,763 | 4,464 | |||
Graham Corp. | 318,330 | 4,380 | ||||
* | Select Interior Concepts Inc. Class A | 445,023 | 4,183 | |||
* | ServiceSource International Inc. | 2,899,331 | 4,088 | |||
* | EVI Industries Inc. | 135,461 | 3,847 | |||
* | Quad/Graphics Inc. | 926,955 | 3,847 | |||
* | Karat Packaging Inc. | 188,473 | 3,839 | |||
BGSF Inc. | 308,654 | 3,809 | ||||
* | Performant Financial Corp. | 1,014,589 | 3,805 | |||
*,1 | Ault Global Holdings Inc. | 1,336,600 | 3,769 | |||
HireQuest Inc. | 203,311 | 3,763 | ||||
* | Manitex International Inc. | 508,183 | 3,705 | |||
* | Armstrong Flooring Inc. | 588,289 | 3,642 | |||
* | Paysign Inc. | 1,117,186 | 3,553 | |||
* | Huttig Building Products Inc. | 593,725 | 3,432 | |||
* | Hill International Inc. | 1,356,592 | 3,378 | |||
* | Usio Inc. | 525,299 | 3,362 | |||
* | Target Hospitality Corp. | 877,423 | 3,255 | |||
* | Core Molding Technologies Inc. | 209,320 | 3,230 | |||
*,1 | AerSale Corp. | 258,600 | 3,222 | |||
* | USA Truck Inc. | 196,807 | 3,163 | |||
* | Hudson Technologies Inc. | 884,344 | 3,007 | |||
* | PAM Transportation Services Inc. | 54,959 | 2,899 | |||
*,1 | GreenBox POS | 238,100 | 2,841 | |||
*,1 | Alpha Pro Tech Ltd. | 331,283 | 2,839 | |||
* | ClearSign Technologies Corp. | 587,850 | 2,822 | |||
* | Williams Industrial Services Group Inc. | 468,192 | 2,730 | |||
* | Ultralife Corp. | 320,629 | 2,687 | |||
* | Research Solutions Inc. | 907,625 | 2,596 | |||
* | AIkido Pharma Inc. | 2,683,200 | 2,568 | |||
* | Document Security Systems Inc. | 1,372,800 | 2,457 | |||
*,1 | Digital Ally Inc. | 1,259,808 | 2,268 | |||
* | DLH Holdings Corp. | 193,212 | 2,257 | |||
* | Frequency Electronics Inc. | 222,635 | 2,182 | |||
* | Limbach Holdings Inc. | 229,935 | 2,129 |
Shares | Market Value ($000) | |||||
* | Volt Information Sciences Inc. | 458,545 | 2,096 | |||
*,1 | Broadwind Inc. | 453,193 | 2,053 | |||
*,1 | FreightCar America Inc. | 344,996 | 2,046 | |||
*,1 | ENGlobal Corp. | 638,962 | 1,936 | |||
* | VirTra Inc. | 262,651 | 1,936 | |||
*,1 | Toughbuilt Industries Inc. | 2,314,700 | 1,926 | |||
Innovative Solutions & Support Inc. | 297,609 | 1,866 | ||||
* | RF Industries Ltd. | 248,889 | 1,857 | |||
Greif Inc. Class B | 28,662 | 1,691 | ||||
*,1 | Astrotech Corp. | 1,251,592 | 1,665 | |||
* | Mechanical Technology Inc. | 214,352 | 1,608 | |||
*,1 | Coda Octopus Group Inc. | 183,468 | 1,596 | |||
* | CPI Aerostructures Inc. | 436,504 | 1,550 | |||
*,1 | Polar Power Inc. | 161,302 | 1,511 | |||
*,1 | LightPath Technologies Inc. Class A | 591,849 | 1,503 | |||
* | GEE Group Inc. | 2,528,303 | 1,449 | |||
* | Willis Lease Finance Corp. | 31,755 | 1,361 | |||
* | Smith-Midland Corp. | 54,828 | 1,294 | |||
* | Legalzoom.com Inc. | 33,951 | 1,285 | |||
* | Wireless Telecom Group Inc. | 305,882 | 1,245 | |||
*,1 | Odyssey Marine Exploration Inc. | 195,210 | 1,242 | |||
*,1 | Applied DNA Sciences Inc. | 178,298 | 1,211 | |||
* | Hudson Global Inc. | 66,260 | 1,162 | |||
* | Ballantyne Strong Inc. | 226,711 | 1,086 | |||
* | LS Starrett Co. Class A | 110,773 | 1,035 | |||
*,1 | Lightbridge Corp. | 137,491 | 1,013 | |||
* | Bowman Consulting Group Ltd. | 70,500 | 976 | |||
* | Air Industries Group | 747,231 | 971 | |||
* | Sypris Solutions Inc. | 259,975 | 967 | |||
* | Air T Inc. | 32,804 | 812 | |||
* | Where Food Comes From Inc. | 42,385 | 672 | |||
Taitron Components Inc. Class A | 126,100 | 628 | ||||
* | AmpliTech Group Inc. | 132,700 | 614 | |||
* | OLB Group Inc. | 109,700 | 599 | |||
* | Cemtrex Inc. | 375,600 | 567 | |||
Espey Manufacturing & Electronics Corp. | 36,520 | 541 | ||||
Image Sensing Systems Inc. | 79,211 | 539 | ||||
* | Bio-key International Inc. | 138,019 | 524 | |||
*,1 | ALJ Regional Holdings Inc. | 281,448 | 509 | |||
Pioneer Power Solutions Inc. | 107,157 | 500 | ||||
* | Jewett-Cameron Trading Co. Ltd. | 32,900 | 320 | |||
*,1 | Staffing 360 Solutions Inc. | 535,078 | 307 | |||
*,1 | SG Blocks Inc. | 55,609 | 306 | |||
*,1 | ShiftPixy Inc. | 114,467 | 270 | |||
*,1 | Energy Focus Inc. | 48,431 | 193 | |||
* | TOMI Environmental Solutions Inc. | 58,422 | 168 | |||
* | P&F Industries Inc. Class A | 19,462 | 130 | |||
* | LGL Group Inc. | 8,954 | 93 | |||
* | Servotronics Inc. | 5,014 | 43 | |||
* | Schmitt Industries Inc. | 5,191 | 29 | |||
* | Air T Funding Warrants Exp. 08/30/2021 | 90,675 | 12 | |||
* | LGL Group Inc. Warrants Exp. 12/16/2025 | 2,391 | 1 | |||
*,2 | Patriot National Inc. | 129,819 | — | |||
* | Eagle Bulk Shipping Inc. Warrants Exp. 10/15/2021 | 1 | — | |||
173,796,716 | ||||||
Other (0.00%)6 | ||||||
*,2 | New York REIT Liquidating LLC | 19,100 | 227 | |||
*,2 | Proteostasis Therapeutics Inc. CVR | 1,195,732 | 129 | |||
*,2 | Contra A/S CVR | 780,631 | 70 | |||
*,2 | First Eagle Private Credit LLC CVR | 551,185 | 50 | |||
*,2 | Ominto Inc. | 101,171 | 42 |
Shares | Market Value ($000) | |||||
*,2 | Alexza Pharmaceuticals Inc. CVR | 327,391 | 11 | |||
*,1,2 | Contra Costa County Public Financing Authority CVR | 400,874 | — | |||
*,2 | Contra Costa County Board of Education CVR | 70,194 | — | |||
529 | ||||||
Real Estate (3.46%) | ||||||
American Tower Corp. | 12,810,101 | 3,460,521 | ||||
Prologis Inc. | 20,900,243 | 2,498,206 | ||||
Crown Castle International Corp. | 12,212,087 | 2,382,578 | ||||
Equinix Inc. | 2,531,089 | 2,031,452 | ||||
Public Storage | 4,204,480 | 1,264,245 | ||||
Simon Property Group Inc. | 9,283,605 | 1,211,325 | ||||
Digital Realty Trust Inc. | 7,958,025 | 1,197,364 | ||||
SBA Communications Corp. | 3,091,244 | 985,179 | ||||
Welltower Inc. | 11,801,233 | 980,682 | ||||
* | CoStar Group Inc. | 11,158,068 | 924,111 | |||
AvalonBay Communities Inc. | 3,947,928 | 823,893 | ||||
Equity Residential | 10,044,426 | 773,421 | ||||
* | CBRE Group Inc. Class A | 9,013,659 | 772,741 | |||
Alexandria Real Estate Equities Inc. | 4,148,449 | 754,769 | ||||
Weyerhaeuser Co. | 21,177,143 | 728,917 | ||||
Realty Income Corp. | 10,569,891 | 705,435 | ||||
Extra Space Storage Inc. | 3,766,037 | 616,952 | ||||
Ventas Inc. | 10,607,509 | 605,689 | ||||
Invitation Homes Inc. | 16,061,562 | 598,936 | ||||
Essex Property Trust Inc. | 1,838,419 | 551,544 | ||||
Mid-America Apartment Communities Inc. | 3,238,873 | 545,491 | ||||
Sun Communities Inc. | 3,161,878 | 541,946 | ||||
Healthpeak Properties Inc. | 15,236,521 | 507,224 | ||||
Duke Realty Corp. | 10,608,060 | 502,292 | ||||
VICI Properties Inc. | 15,184,263 | 471,016 | ||||
Boston Properties Inc. | 3,971,290 | 455,070 | ||||
UDR Inc. | 8,394,473 | 411,161 | ||||
* | Zillow Group Inc. Class C | 3,064,180 | 374,504 | |||
WP Carey Inc. | 5,012,164 | 374,008 | ||||
Camden Property Trust | 2,765,696 | 366,925 | ||||
Iron Mountain Inc. | 8,165,211 | 345,552 | ||||
Equity LifeStyle Properties Inc. | 4,643,077 | 345,027 | ||||
* | Host Hotels & Resorts Inc. | 19,962,064 | 341,152 | |||
* | Zillow Group Inc. Class A | 2,711,548 | 332,246 | |||
Medical Properties Trust Inc. | 16,528,329 | 332,219 | ||||
Regency Centers Corp. | 4,807,900 | 308,042 | ||||
American Homes 4 Rent Class A | 7,741,537 | 300,759 | ||||
VEREIT Inc. | 6,482,849 | 297,757 | ||||
Gaming & Leisure Properties Inc. | 6,256,179 | 289,849 | ||||
* | Jones Lang LaSalle Inc. | 1,450,498 | 283,514 | |||
Americold Realty Trust | 7,150,464 | 270,645 | ||||
CubeSmart | 5,651,811 | 261,792 | ||||
Federal Realty Investment Trust | 2,196,395 | 257,352 | ||||
Lamar Advertising Co. Class A | 2,452,290 | 256,068 | ||||
CyrusOne Inc. | 3,450,361 | 246,770 | ||||
Kimco Realty Corp. | 11,655,315 | 243,013 | ||||
Omega Healthcare Investors Inc. | 6,629,302 | 240,577 | ||||
Vornado Realty Trust | 5,146,453 | 240,185 | ||||
STORE Capital Corp. | 6,829,092 | 235,672 | ||||
National Retail Properties Inc. | 4,971,879 | 233,082 | ||||
Life Storage Inc. | 2,152,690 | 231,091 | ||||
Kilroy Realty Corp. | 3,296,268 | 229,552 | ||||
Rexford Industrial Realty Inc. | 4,011,135 | 228,434 | ||||
Apartment Income REIT Corp. | 4,407,806 | 209,062 | ||||
Brixmor Property Group Inc. | 8,413,668 | 192,589 | ||||
First Industrial Realty Trust Inc. | 3,663,913 | 191,366 |
Shares | Market Value ($000) | |||||
EastGroup Properties Inc. | 1,124,790 | 184,972 | ||||
American Campus Communities Inc. | 3,903,999 | 182,395 | ||||
* | Redfin Corp. | 2,790,739 | 176,961 | |||
STAG Industrial Inc. | 4,504,184 | 168,592 | ||||
Healthcare Trust of America Inc. Class A | 6,200,387 | 165,550 | ||||
CoreSite Realty Corp. | 1,217,979 | 163,940 | ||||
Douglas Emmett Inc. | 4,722,358 | 158,766 | ||||
SL Green Realty Corp. | 1,963,288 | 157,063 | ||||
Spirit Realty Capital Inc. | 3,256,441 | 155,788 | ||||
Cousins Properties Inc. | 4,211,919 | 154,914 | ||||
QTS Realty Trust Inc. Class A | 1,933,675 | 149,473 | ||||
Rayonier Inc. | 3,922,312 | 140,929 | ||||
Agree Realty Corp. | 1,943,611 | 137,005 | ||||
Highwoods Properties Inc. | 2,951,873 | 133,336 | ||||
* | Park Hotels & Resorts Inc. | 6,360,590 | 131,092 | |||
Innovative Industrial Properties Inc. | 678,171 | 129,544 | ||||
Terreno Realty Corp. | 1,942,414 | 125,325 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 2,215,942 | 124,425 | ||||
Healthcare Realty Trust Inc. | 3,964,625 | 119,732 | ||||
Hudson Pacific Properties Inc. | 4,277,174 | 118,991 | ||||
* | Howard Hughes Corp. | 1,171,561 | 114,180 | |||
JBG SMITH Properties | 3,538,527 | 111,499 | ||||
* | EPR Properties | 2,113,008 | 111,313 | |||
Physicians Realty Trust | 6,001,913 | 110,855 | ||||
* | Ryman Hospitality Properties Inc. | 1,403,166 | 110,794 | |||
Weingarten Realty Investors | 3,448,146 | 110,582 | ||||
Sabra Health Care REIT Inc. | 6,043,959 | 110,000 | ||||
* | DigitalBridge Group Inc. | 13,759,779 | 108,702 | |||
1 | Broadstone Net Lease Inc. Class A | 4,401,411 | 103,037 | |||
1 | Macerich Co. | 5,539,557 | 101,097 | |||
* | Outfront Media Inc. | 4,114,774 | 98,878 | |||
Lexington Realty Trust | 8,159,103 | 97,501 | ||||
PotlatchDeltic Corp. | 1,804,242 | 95,895 | ||||
Apple Hospitality REIT Inc. | 6,035,445 | 92,101 | ||||
Essential Properties Realty Trust Inc. | 3,310,130 | 89,506 | ||||
Corporate Office Properties Trust | 3,182,851 | 89,088 | ||||
Pebblebrook Hotel Trust | 3,713,354 | 87,450 | ||||
National Storage Affiliates Trust | 1,715,621 | 86,742 | ||||
PS Business Parks Inc. | 580,725 | 85,994 | ||||
Equity Commonwealth | 3,258,097 | 85,362 | ||||
National Health Investors Inc. | 1,213,072 | 81,337 | ||||
* | Sunstone Hotel Investors Inc. | 6,156,764 | 76,467 | |||
SITE Centers Corp. | 5,026,905 | 75,705 | ||||
* | eXp World Holdings Inc. | 1,839,623 | 71,322 | |||
RLJ Lodging Trust | 4,673,445 | 71,177 | ||||
Uniti Group Inc. | 6,661,707 | 70,548 | ||||
Retail Properties of America Inc. Class A | 6,129,548 | 70,183 | ||||
Kennedy-Wilson Holdings Inc. | 3,390,424 | 67,368 | ||||
Brandywine Realty Trust | 4,881,219 | 66,922 | ||||
Piedmont Office Realty Trust Inc. Class A | 3,458,661 | 63,882 | ||||
CareTrust REIT Inc. | 2,728,983 | 63,394 | ||||
* | Cushman & Wakefield plc | 3,501,607 | 61,173 | |||
* | Xenia Hotels & Resorts Inc. | 3,251,643 | 60,903 | |||
Urban Edge Properties | 3,169,631 | 60,540 | ||||
* | Realogy Holdings Corp. | 3,292,063 | 59,981 | |||
Four Corners Property Trust Inc. | 2,148,424 | 59,318 | ||||
Service Properties Trust | 4,660,246 | 58,719 | ||||
* | DiamondRock Hospitality Co. | 6,001,178 | 58,211 | |||
Empire State Realty Trust Inc. Class A | 4,814,089 | 57,769 | ||||
Columbia Property Trust Inc. | 3,258,956 | 56,673 | ||||
Retail Opportunity Investments Corp. | 3,177,193 | 56,109 |
Shares | Market Value ($000) | |||||
Washington REIT | 2,372,453 | 54,566 | ||||
Acadia Realty Trust | 2,465,673 | 54,146 | ||||
Kite Realty Group Trust | 2,416,449 | 53,186 | ||||
Paramount Group Inc. | 5,271,889 | 53,088 | ||||
Independence Realty Trust Inc. | 2,895,707 | 52,789 | ||||
Newmark Group Inc. Class A | 4,350,322 | 52,247 | ||||
1 | Tanger Factory Outlet Centers Inc. | 2,699,186 | 50,880 | |||
Industrial Logistics Properties Trust | 1,879,910 | 49,141 | ||||
Easterly Government Properties Inc. | 2,303,661 | 48,561 | ||||
Monmouth Real Estate Investment Corp. | 2,593,323 | 48,547 | ||||
Global Net Lease Inc. | 2,622,796 | 48,522 | ||||
American Assets Trust Inc. | 1,212,333 | 45,208 | ||||
St. Joe Co. | 992,364 | 44,269 | ||||
LTC Properties Inc. | 1,114,937 | 42,802 | ||||
Office Properties Income Trust | 1,350,502 | 39,583 | ||||
Mack-Cali Realty Corp. | 2,278,044 | 39,068 | ||||
Alexander & Baldwin Inc. | 1,985,389 | 36,372 | ||||
1 | Safehold Inc. | 453,788 | 35,622 | |||
* | CoreCivic Inc. | 3,378,790 | 35,376 | |||
NexPoint Residential Trust Inc. | 639,928 | 35,183 | ||||
Getty Realty Corp. | 1,051,850 | 32,765 | ||||
Community Healthcare Trust Inc. | 640,035 | 30,376 | ||||
Centerspace | 379,277 | 29,925 | ||||
RPT Realty | 2,246,772 | 29,163 | ||||
Diversified Healthcare Trust | 6,607,207 | 27,618 | ||||
Apartment Investment & Management Co. Class A | 4,070,052 | 27,310 | ||||
* | Marcus & Millichap Inc. | 701,849 | 27,281 | |||
* | Summit Hotel Properties Inc. | 2,878,842 | 26,860 | |||
American Finance Trust Inc. Class A | 3,104,298 | 26,324 | ||||
UMH Properties Inc. | 1,131,282 | 24,685 | ||||
Global Medical REIT Inc. | 1,605,635 | 23,699 | ||||
1 | GEO Group Inc. | 3,288,345 | 23,413 | |||
Gladstone Commercial Corp. | 1,037,601 | 23,408 | ||||
NETSTREIT Corp. | 994,183 | 22,926 | ||||
* | Rafael Holdings Inc. Class B | 447,369 | 22,838 | |||
Armada Hoffler Properties Inc. | 1,654,180 | 21,984 | ||||
Universal Health Realty Income Trust | 354,589 | 21,825 | ||||
Brookfield Property REIT Inc. Class A | 996,534 | 18,825 | ||||
Ares Commercial Real Estate Corp. | 1,269,255 | 18,645 | ||||
New Senior Investment Group Inc. | 2,097,511 | 18,416 | ||||
Gladstone Land Corp. | 740,020 | 17,805 | ||||
*,1 | Ashford Hospitality Trust Inc. | 3,898,517 | 17,777 | |||
* | Chatham Lodging Trust | 1,342,641 | 17,280 | |||
* | CorePoint Lodging Inc. | 1,543,908 | 16,520 | |||
RE/MAX Holdings Inc. Class A | 492,522 | 16,416 | ||||
CatchMark Timber Trust Inc. Class A | 1,402,499 | 16,409 | ||||
Urstadt Biddle Properties Inc. Class A | 846,342 | 16,402 | ||||
RMR Group Inc. Class A | 420,615 | 16,253 | ||||
Alexander's Inc. | 58,454 | 15,663 | ||||
Saul Centers Inc. | 339,088 | 15,412 | ||||
Plymouth Industrial REIT Inc. | 767,187 | 15,359 | ||||
*,1 | Seritage Growth Properties Class A | 794,755 | 14,624 | |||
Franklin Street Properties Corp. | 2,756,300 | 14,498 | ||||
City Office REIT Inc. | 1,122,941 | 13,958 | ||||
* | Tejon Ranch Co. | 845,370 | 12,858 | |||
Preferred Apartment Communities Inc. Class A | 1,314,513 | 12,817 | ||||
One Liberty Properties Inc. | 419,461 | 11,909 | ||||
* | Hersha Hospitality Trust Class A | 1,060,866 | 11,415 | |||
Retail Value Inc. | 492,728 | 10,717 | ||||
* | Forestar Group Inc. | 470,486 | 9,838 | |||
Whitestone REIT | 1,117,150 | 9,217 |
Shares | Market Value ($000) | |||||
CTO Realty Growth Inc. | 164,258 | 8,791 | ||||
* | FRP Holdings Inc. | 155,246 | 8,644 | |||
Farmland Partners Inc. | 711,528 | 8,574 | ||||
*,1 | Braemar Hotels & Resorts Inc. | 1,278,090 | 7,937 | |||
1 | Postal Realty Trust Inc. Class A | 430,146 | 7,846 | |||
Bluerock Residential Growth REIT Inc. Class A | 745,737 | 7,584 | ||||
* | Vidler Water Resouces Inc. | 506,162 | 6,732 | |||
BRT Apartments Corp. | 351,558 | 6,096 | ||||
* | Stratus Properties Inc. | 226,798 | 5,595 | |||
Alpine Income Property Trust Inc. | 274,370 | 5,219 | ||||
*,1 | Fathom Holdings Inc. | 153,685 | 5,039 | |||
Cedar Realty Trust Inc. | 285,487 | 4,808 | ||||
Indus Realty Trust Inc. | 72,441 | 4,756 | ||||
*,1 | Pennsylvania REIT | 1,592,109 | 3,964 | |||
* | Power REIT | 94,775 | 3,807 | |||
1 | New York City REIT Inc. Class A | 265,600 | 3,479 | |||
1 | CIM Commercial Trust Corp. | 360,617 | 3,228 | |||
Clipper Realty Inc. | 405,006 | 2,977 | ||||
CorEnergy Infrastructure Trust Inc. | 402,903 | 2,667 | ||||
* | Maui Land & Pineapple Co. Inc. | 202,110 | 2,169 | |||
Global Self Storage Inc. | 358,172 | 1,866 | ||||
Urstadt Biddle Properties Inc. | 113,846 | 1,828 | ||||
* | Condor Hospitality Trust Inc. | 211,609 | 1,284 | |||
* | Altisource Portfolio Solutions SA | 144,467 | 1,284 | |||
*,1 | Alset EHome International Inc. Class A | 216,800 | 1,231 | |||
* | Sotherly Hotels Inc. | 337,518 | 1,013 | |||
*,1 | Comstock Holding Cos. Inc. Class A | 164,051 | 981 | |||
*,1 | Harbor Custom Development Inc. | 238,051 | 771 | |||
*,2 | Spirit MTA REIT | 2,854,330 | 764 | |||
* | Trinity Place Holdings Inc. | 327,367 | 691 | |||
* | Wheeler REIT Inc. | 130,830 | 662 | |||
*,1 | Avalon GloboCare Corp. | 503,243 | 494 | |||
*,1 | Compass Inc. Class A | 34,811 | 457 | |||
* | JW Mays Inc. | 2,985 | 92 | |||
* | AMREP Corp. | 3,400 | 40 | |||
* | Transcontinental Realty Investors Inc. | 706 | 24 | |||
*,1 | CIM Commercial Trust Corp. Rights | 274,863 | — | |||
43,552,017 | ||||||
Technology (26.97%) | ||||||
Apple Inc. | 447,774,417 | 61,327,183 | ||||
Microsoft Corp. | 212,736,932 | 57,630,435 | ||||
* | Facebook Inc. Class A | 67,679,030 | 23,532,676 | |||
* | Alphabet Inc. Class A | 8,484,554 | 20,717,499 | |||
* | Alphabet Inc. Class C | 7,778,705 | 19,495,924 | |||
NVIDIA Corp. | 16,717,635 | 13,375,780 | ||||
* | Adobe Inc. | 13,502,096 | 7,907,367 | |||
Intel Corp. | 114,059,454 | 6,403,298 | ||||
* | salesforce.com Inc. | 24,747,719 | 6,045,125 | |||
Broadcom Inc. | 10,956,982 | 5,224,727 | ||||
Texas Instruments Inc. | 26,086,761 | 5,016,484 | ||||
QUALCOMM Inc. | 31,862,594 | 4,554,121 | ||||
Oracle Corp. | 48,870,718 | 3,804,097 | ||||
International Business Machines Corp. | 25,239,316 | 3,699,831 | ||||
Applied Materials Inc. | 25,923,521 | 3,691,509 | ||||
Intuit Inc. | 7,333,298 | 3,594,563 | ||||
* | Advanced Micro Devices Inc. | 34,322,492 | 3,223,912 | |||
* | ServiceNow Inc. | 5,578,108 | 3,065,449 | |||
* | Micron Technology Inc. | 31,679,475 | 2,692,122 | |||
Lam Research Corp. | 4,029,137 | 2,621,759 | ||||
* | Snap Inc. Class A | 32,238,697 | 2,196,745 | |||
* | Zoom Video Communications Inc. Class A | 5,672,153 | 2,195,293 |
Shares | Market Value ($000) | |||||
* | Autodesk Inc. | 6,217,639 | 1,814,929 | |||
* | Twilio Inc. Class A | 4,585,428 | 1,807,392 | |||
Analog Devices Inc. | 10,421,560 | 1,794,176 | ||||
* | Snowflake Inc. Class A | 7,107,185 | 1,718,517 | |||
* | Twitter Inc. | 21,420,213 | 1,473,925 | |||
* | DocuSign Inc. | 5,219,151 | 1,459,118 | |||
* | Crowdstrike Holdings Inc. Class A | 5,624,032 | 1,413,375 | |||
KLA Corp. | 4,331,192 | 1,404,216 | ||||
Roper Technologies Inc. | 2,972,978 | 1,397,894 | ||||
Marvell Technology Inc. | 22,612,688 | 1,318,998 | ||||
* | Workday Inc. Class A | 5,334,816 | 1,273,634 | |||
TE Connectivity Ltd. | 9,328,364 | 1,261,288 | ||||
* | Pinterest Inc. Class A | 15,454,626 | 1,220,143 | |||
*,1 | Palantir Technologies Inc. Class A | 45,878,662 | 1,209,362 | |||
* | Synopsys Inc. | 4,311,711 | 1,189,127 | |||
* | Match Group Inc. | 7,249,012 | 1,168,903 | |||
Amphenol Corp. Class A | 16,883,132 | 1,154,975 | ||||
Microchip Technology Inc. | 7,712,324 | 1,154,843 | ||||
* | Cadence Design Systems Inc. | 7,863,524 | 1,075,887 | |||
HP Inc. | 35,230,807 | 1,063,618 | ||||
Cognizant Technology Solutions Corp. Class A | 14,900,567 | 1,032,013 | ||||
Xilinx Inc. | 6,946,761 | 1,004,780 | ||||
* | Okta Inc. Class A | 4,050,247 | 991,014 | |||
* | Palo Alto Networks Inc. | 2,614,543 | 970,126 | |||
* | Fortinet Inc. | 3,922,835 | 934,380 | |||
Skyworks Solutions Inc. | 4,664,952 | 894,505 | ||||
Corning Inc. | 21,645,901 | 885,317 | ||||
* | ANSYS Inc. | 2,462,999 | 854,808 | |||
Maxim Integrated Products Inc. | 7,586,451 | 799,308 | ||||
* | EPAM Systems Inc. | 1,514,286 | 773,740 | |||
* | Dell Technologies Inc. Class C | 7,437,481 | 741,294 | |||
* | HubSpot Inc. | 1,253,833 | 730,634 | |||
CDW Corp. | 3,961,432 | 691,864 | ||||
* | Cloudflare Inc. Class A | 6,512,659 | 689,300 | |||
* | Splunk Inc. | 4,623,802 | 668,509 | |||
* | Datadog Inc. Class A | 6,275,064 | 653,109 | |||
* | RingCentral Inc. Class A | 2,166,899 | 629,658 | |||
Teradyne Inc. | 4,699,688 | 629,570 | ||||
* | Qorvo Inc. | 3,182,826 | 622,720 | |||
* | VeriSign Inc. | 2,705,749 | 616,072 | |||
* | MongoDB Inc. Class A | 1,665,755 | 602,204 | |||
* | Slack Technologies Inc. Class A | 13,487,615 | 597,501 | |||
* | Western Digital Corp. | 8,228,043 | 585,590 | |||
* | Gartner Inc. | 2,310,609 | 559,629 | |||
* | Coupa Software Inc. | 2,071,808 | 543,042 | |||
* | Akamai Technologies Inc. | 4,605,185 | 536,965 | |||
Hewlett Packard Enterprise Co. | 36,796,463 | 536,492 | ||||
* | Paycom Software Inc. | 1,446,236 | 525,663 | |||
* | Tyler Technologies Inc. | 1,151,156 | 520,748 | |||
*,1 | DoorDash Inc. Class A | 2,910,621 | 519,051 | |||
NetApp Inc. | 6,292,303 | 514,836 | ||||
Seagate Technology Holdings plc | 5,822,957 | 512,013 | ||||
* | Zendesk Inc. | 3,352,775 | 483,940 | |||
Entegris Inc. | 3,830,931 | 471,090 | ||||
* | ON Semiconductor Corp. | 12,029,499 | 460,489 | |||
Monolithic Power Systems Inc. | 1,224,897 | 457,438 | ||||
* | Zscaler Inc. | 2,109,484 | 455,775 | |||
SS&C Technologies Holdings Inc. | 6,144,217 | 442,752 | ||||
* | Nuance Communications Inc. | 8,085,086 | 440,152 | |||
* | Unity Software Inc. | 3,944,726 | 433,249 | |||
NortonLifeLock Inc. | 15,568,820 | 423,783 |
Shares | Market Value ($000) | |||||
* | PTC Inc. | 2,972,891 | 419,951 | |||
* | GoDaddy Inc. Class A | 4,741,599 | 412,329 | |||
Citrix Systems Inc. | 3,507,598 | 411,336 | ||||
Leidos Holdings Inc. | 3,994,271 | 403,821 | ||||
* | Avalara Inc. | 2,302,711 | 372,579 | |||
* | Ceridian HCM Holding Inc. | 3,797,442 | 364,251 | |||
*,1 | VMware Inc. Class A | 2,215,945 | 354,485 | |||
* | Five9 Inc. | 1,890,942 | 346,780 | |||
* | IAC/InterActiveCorp | 2,237,791 | 345,000 | |||
* | Black Knight Inc. | 4,205,804 | 327,969 | |||
* | Dynatrace Inc. | 5,602,062 | 327,272 | |||
* | Cree Inc. | 3,263,747 | 319,619 | |||
* | F5 Networks Inc. | 1,684,720 | 314,470 | |||
1 | Bentley Systems Inc. Class B | 4,488,497 | 290,765 | |||
* | Proofpoint Inc. | 1,620,976 | 281,661 | |||
* | DXC Technology Co. | 7,194,566 | 280,156 | |||
* | Guidewire Software Inc. | 2,367,327 | 266,845 | |||
Universal Display Corp. | 1,199,379 | 266,658 | ||||
* | Aspen Technology Inc. | 1,922,326 | 264,397 | |||
* | Manhattan Associates Inc. | 1,798,187 | 260,449 | |||
* | Dropbox Inc. Class A | 8,545,869 | 259,025 | |||
* | Elastic NV | 1,776,585 | 258,955 | |||
* | Smartsheet Inc. Class A | 3,336,807 | 241,318 | |||
* | Arrow Electronics Inc. | 2,095,167 | 238,493 | |||
Jabil Inc. | 3,786,073 | 220,047 | ||||
* | Lattice Semiconductor Corp. | 3,862,485 | 216,994 | |||
Vertiv Holdings Co. Class A | 7,933,094 | 216,573 | ||||
* | II-VI Inc. | 2,965,345 | 215,254 | |||
* | Nutanix Inc. Class A | 5,457,091 | 208,570 | |||
* | IPG Photonics Corp. | 984,655 | 207,536 | |||
Brooks Automation Inc. | 2,101,297 | 200,212 | ||||
* | Anaplan Inc. | 3,670,753 | 195,651 | |||
* | Silicon Laboratories Inc. | 1,254,731 | 192,288 | |||
* | Concentrix Corp. | 1,177,551 | 189,350 | |||
* | Upwork Inc. | 3,203,491 | 186,731 | |||
Dolby Laboratories Inc. Class A | 1,844,549 | 181,301 | ||||
* | Vimeo Inc. | 3,681,134 | 180,376 | |||
* | Digital Turbine Inc. | 2,274,808 | 172,954 | |||
CDK Global Inc. | 3,443,174 | 171,091 | ||||
* | CACI International Inc. Class A | 665,367 | 169,748 | |||
* | NCR Corp. | 3,688,929 | 168,252 | |||
* | J2 Global Inc. | 1,212,606 | 166,794 | |||
* | Blackline Inc. | 1,479,295 | 164,601 | |||
* | Varonis Systems Inc. Class B | 2,839,213 | 163,595 | |||
*,1 | Fastly Inc. Class A | 2,691,358 | 160,405 | |||
Pegasystems Inc. | 1,149,793 | 160,040 | ||||
* | Change Healthcare Inc. | 6,895,751 | 158,878 | |||
* | Synaptics Inc. | 991,825 | 154,308 | |||
* | Q2 Holdings Inc. | 1,502,410 | 154,117 | |||
*,1 | Appian Corp. | 1,114,253 | 153,488 | |||
* | Pure Storage Inc. Class A | 7,581,579 | 148,068 | |||
* | Teradata Corp. | 2,936,333 | 146,729 | |||
* | Everbridge Inc. | 1,061,848 | 144,496 | |||
* | Alteryx Inc. Class A | 1,679,248 | 144,449 | |||
* | ZoomInfo Technologies Inc. Class A | 2,765,916 | 144,298 | |||
Science Applications International Corp. | 1,638,926 | 143,783 | ||||
SYNNEX Corp. | 1,172,205 | 142,728 | ||||
National Instruments Corp. | 3,346,401 | 141,486 | ||||
* | Rapid7 Inc. | 1,474,580 | 139,540 | |||
* | Cirrus Logic Inc. | 1,627,897 | 138,567 | |||
* | 3D Systems Corp. | 3,355,214 | 134,108 |
Shares | Market Value ($000) | |||||
Power Integrations Inc. | 1,611,956 | 132,277 | ||||
* | FireEye Inc. | 6,387,916 | 129,164 | |||
*,1 | Vroom Inc. | 3,080,293 | 128,941 | |||
* | Novanta Inc. | 948,936 | 127,879 | |||
* | Semtech Corp. | 1,845,774 | 126,989 | |||
* | Sailpoint Technologies Holdings Inc. | 2,470,143 | 126,150 | |||
CMC Materials Inc. | 828,670 | 124,914 | ||||
Advanced Energy Industries Inc. | 1,088,455 | 122,680 | ||||
* | Asana Inc. Class A | 1,948,258 | 120,850 | |||
* | Workiva Inc. Class A | 1,069,055 | 119,018 | |||
* | Magnite Inc. | 3,457,389 | 116,998 | |||
* | Cerence Inc. | 1,068,380 | 114,007 | |||
Avnet Inc. | 2,809,276 | 112,596 | ||||
* | Schrodinger Inc. | 1,471,665 | 111,273 | |||
* | LivePerson Inc. | 1,749,732 | 110,653 | |||
* | Envestnet Inc. | 1,452,851 | 110,213 | |||
*,1 | MicroStrategy Inc. Class A | 164,781 | 109,497 | |||
* | New Relic Inc. | 1,611,649 | 107,932 | |||
* | Alarm.com Holdings Inc. | 1,265,722 | 107,207 | |||
* | Rogers Corp. | 531,651 | 106,756 | |||
*,1 | Box Inc. Class A | 4,120,640 | 105,282 | |||
* | Blackbaud Inc. | 1,373,326 | 105,156 | |||
* | Dun & Bradstreet Holdings Inc. | 4,884,121 | 104,374 | |||
* | Ambarella Inc. | 970,573 | 103,492 | |||
Xerox Holdings Corp. | 4,365,744 | 102,551 | ||||
* | Fabrinet | 1,047,450 | 100,419 | |||
* | SPS Commerce Inc. | 1,002,448 | 100,094 | |||
* | Insight Enterprises Inc. | 995,031 | 99,513 | |||
* | CommVault Systems Inc. | 1,242,070 | 97,093 | |||
* | Onto Innovation Inc. | 1,313,941 | 95,970 | |||
* | nCino Inc. | 1,595,625 | 95,610 | |||
* | Diodes Inc. | 1,196,442 | 95,440 | |||
* | Qualys Inc. | 939,003 | 94,548 | |||
* | Cloudera Inc. | 5,830,727 | 92,475 | |||
* | Cornerstone OnDemand Inc. | 1,767,821 | 91,184 | |||
* | Duck Creek Technologies Inc. | 2,053,076 | 89,329 | |||
*,1 | Altair Engineering Inc. Class A | 1,282,116 | 88,428 | |||
*,1 | Bumble Inc. Class A | 1,524,732 | 87,825 | |||
* | MACOM Technology Solutions Holdings Inc. | 1,350,831 | 86,561 | |||
* | Tenable Holdings Inc. | 2,081,993 | 86,090 | |||
Vishay Intertechnology Inc. | 3,774,551 | 85,116 | ||||
* | Sprout Social Inc. Class A | 942,059 | 84,239 | |||
* | LiveRamp Holdings Inc. | 1,791,465 | 83,930 | |||
* | Medallia Inc. | 2,446,241 | 82,561 | |||
* | MaxLinear Inc. Class A | 1,903,920 | 80,898 | |||
* | FormFactor Inc. | 2,205,819 | 80,424 | |||
*,1 | PagerDuty Inc. | 1,884,569 | 80,245 | |||
* | Yelp Inc. Class A | 1,992,740 | 79,630 | |||
* | Covetrus Inc. | 2,888,639 | 77,993 | |||
* | Rambus Inc. | 3,211,244 | 76,139 | |||
* | Verint Systems Inc. | 1,663,783 | 74,987 | |||
* | Perficient Inc. | 931,223 | 74,889 | |||
*,1 | MicroVision Inc. | 4,461,711 | 74,734 | |||
* | Plexus Corp. | 815,265 | 74,523 | |||
* | Momentive Global Inc. | 3,494,738 | 73,634 | |||
* | Calix Inc. | 1,511,882 | 71,814 | |||
* | Allscripts Healthcare Solutions Inc. | 3,810,146 | 70,526 | |||
* | BigCommerce Holdings Inc. | 1,072,785 | 69,645 | |||
*,1 | AppLovin Corp. Class A | 915,121 | 68,790 | |||
* | Sanmina Corp. | 1,742,230 | 67,877 | |||
* | Cargurus Inc. Class A | 2,521,836 | 66,148 |
Shares | Market Value ($000) | |||||
Xperi Holding Corp. | 2,960,437 | 65,840 | ||||
Shutterstock Inc. | 669,260 | 65,701 | ||||
* | Appfolio Inc. Class A | 453,029 | 63,968 | |||
* | Ultra Clean Holdings Inc. | 1,173,838 | 63,059 | |||
Switch Inc. Class A | 2,930,902 | 61,871 | ||||
* | Domo Inc. Class B | 757,961 | 61,266 | |||
* | Avaya Holdings Corp. | 2,274,323 | 61,179 | |||
*,1 | Skillz Inc. Class A | 2,776,082 | 60,296 | |||
*,1 | JFrog Ltd. | 1,317,742 | 59,984 | |||
Progress Software Corp. | 1,240,529 | 57,374 | ||||
* | NetScout Systems Inc. | 1,968,073 | 56,169 | |||
* | TechTarget Inc. | 710,164 | 55,031 | |||
* | PROS Holdings Inc. | 1,124,715 | 51,253 | |||
* | Zuora Inc. Class A | 2,969,677 | 51,227 | |||
*,1 | C3.ai Inc. Class A | 818,696 | 51,193 | |||
* | Jamf Holding Corp. | 1,506,490 | 50,573 | |||
Methode Electronics Inc. | 1,019,595 | 50,174 | ||||
* | Sumo Logic Inc. | 2,395,290 | 49,463 | |||
* | PAR Technology Corp. | 694,942 | 48,604 | |||
* | Cohu Inc. | 1,294,764 | 47,634 | |||
* | Bottomline Technologies DE Inc. | 1,273,748 | 47,231 | |||
* | Bandwidth Inc. Class A | 341,654 | 47,121 | |||
McAfee Corp. Class A | 1,629,137 | 45,648 | ||||
* | Unisys Corp. | 1,789,046 | 45,281 | |||
* | Allegro MicroSystems Inc. | 1,595,198 | 44,187 | |||
* | Yext Inc. | 3,013,825 | 43,068 | |||
* | Super Micro Computer Inc. | 1,216,725 | 42,804 | |||
* | Ichor Holdings Ltd. | 791,067 | 42,559 | |||
* | Porch Group Inc. | 2,169,250 | 41,953 | |||
* | nLight Inc. | 1,142,282 | 41,442 | |||
Pitney Bowes Inc. | 4,714,393 | 41,345 | ||||
CSG Systems International Inc. | 872,359 | 41,158 | ||||
Amkor Technology Inc. | 1,729,958 | 40,948 | ||||
* | TTM Technologies Inc. | 2,846,038 | 40,698 | |||
* | Eventbrite Inc. Class A | 2,106,039 | 40,015 | |||
* | SiTime Corp. | 315,748 | 39,971 | |||
*,1 | E2open Parent Holdings Inc. | 3,418,769 | 39,042 | |||
* | Avid Technology Inc. | 954,875 | 37,383 | |||
* | SolarWinds Corp. | 2,192,419 | 37,030 | |||
* | Axcelis Technologies Inc. | 897,611 | 36,281 | |||
*,1 | Squarespace Inc. Class A | 599,689 | 35,628 | |||
* | ACM Research Inc. Class A | 337,471 | 34,496 | |||
*,1 | Ouster Inc. | 2,750,113 | 34,349 | |||
* | ePlus Inc. | 373,799 | 32,405 | |||
* | Ping Identity Holding Corp. | 1,403,252 | 32,134 | |||
* | Model N Inc. | 936,752 | 32,102 | |||
* | Veeco Instruments Inc. | 1,331,241 | 32,003 | |||
* | Telos Corp. | 940,285 | 31,979 | |||
*,1 | Aeva Technologies Inc. | 2,970,405 | 31,397 | |||
CTS Corp. | 839,081 | 31,180 | ||||
* | Agilysys Inc. | 543,003 | 30,881 | |||
* | Upland Software Inc. | 719,180 | 29,609 | |||
* | Qualtrics International Inc. Class A | 763,427 | 29,201 | |||
* | Olo Inc. Class A | 772,525 | 28,885 | |||
* | Groupon Inc. Class A | 664,728 | 28,690 | |||
* | CEVA Inc. | 606,098 | 28,668 | |||
* | Confluent Inc. Class A | 599,760 | 28,489 | |||
* | Parsons Corp. | 712,042 | 28,026 | |||
Benchmark Electronics Inc. | 972,002 | 27,663 | ||||
* | Diebold Nixdorf Inc. | 2,099,260 | 26,954 | |||
QAD Inc. Class A | 304,433 | 26,492 |
Shares | Market Value ($000) | |||||
* | Impinj Inc. | 507,505 | 26,182 | |||
* | MediaAlpha Inc. Class A | 598,207 | 25,185 | |||
* | DigitalOcean Holdings Inc. | 445,307 | 24,755 | |||
* | OneSpan Inc. | 952,512 | 24,327 | |||
Ebix Inc. | 701,777 | 23,790 | ||||
* | Rackspace Technology Inc. | 1,181,522 | 23,170 | |||
Simulations Plus Inc. | 417,485 | 22,924 | ||||
* | Mitek Systems Inc. | 1,169,207 | 22,519 | |||
* | Photronics Inc. | 1,699,445 | 22,450 | |||
* | SMART Global Holdings Inc. | 466,081 | 22,223 | |||
*,1 | Tucows Inc. Class A | 258,384 | 20,753 | |||
* | ScanSource Inc. | 723,722 | 20,358 | |||
American Software Inc. Class A | 914,539 | 20,083 | ||||
* | ChannelAdvisor Corp. | 805,574 | 19,745 | |||
* | Datto Holding Corp. | 667,614 | 18,586 | |||
*,1 | Kopin Corp. | 2,189,355 | 17,909 | |||
* | Alpha & Omega Semiconductor Ltd. | 577,335 | 17,545 | |||
* | A10 Networks Inc. | 1,543,666 | 17,382 | |||
* | PDF Solutions Inc. | 900,467 | 16,370 | |||
* | DSP Group Inc. | 1,036,040 | 15,333 | |||
*,1 | Cleanspark Inc. | 909,635 | 15,136 | |||
*,1 | Digimarc Corp. | 451,101 | 15,112 | |||
* | Brightcove Inc. | 1,042,619 | 14,962 | |||
* | Kimball Electronics Inc. | 672,634 | 14,623 | |||
* | Veritone Inc. | 738,719 | 14,560 | |||
* | EverQuote Inc. Class A | 438,012 | 14,314 | |||
PC Connection Inc. | 305,710 | 14,145 | ||||
* | NeoPhotonics Corp. | 1,382,329 | 14,114 | |||
*,1 | ON24 Inc. | 390,718 | 13,863 | |||
* | TrueCar Inc. | 2,392,334 | 13,517 | |||
* | Zix Corp. | 1,806,899 | 12,739 | |||
Hackett Group Inc. | 697,821 | 12,575 | ||||
* | AXT Inc. | 1,143,587 | 12,557 | |||
NVE Corp. | 166,706 | 12,345 | ||||
*,1 | Atomera Inc. | 552,359 | 11,843 | |||
*,1 | Limelight Networks Inc. | 3,637,574 | 11,458 | |||
* | Benefitfocus Inc. | 812,292 | 11,453 | |||
* | Sciplay Corp. Class A | 651,538 | 11,044 | |||
* | Quantum Corp. | 1,583,746 | 10,912 | |||
* | Grid Dynamics Holdings Inc. | 699,374 | 10,512 | |||
* | Identiv Inc. | 610,174 | 10,373 | |||
*,1 | Sprinklr Inc. Class A | 469,473 | 9,666 | |||
* | comScore Inc. | 1,924,741 | 9,624 | |||
* | GTY Technology Holdings Inc. | 1,348,521 | 9,588 | |||
* | Vertex Inc. Class A | 433,630 | 9,514 | |||
* | Viant Technology Inc. Class A | 303,752 | 9,046 | |||
* | EMCORE Corp. | 977,425 | 9,012 | |||
*,1 | Intelligent Systems Corp. | 284,013 | 8,935 | |||
* | Smith Micro Software Inc. | 1,693,261 | 8,839 | |||
* | CyberOptics Corp. | 213,711 | 8,754 | |||
*,1 | VirnetX Holding Corp. | 1,884,231 | 8,046 | |||
*,1 | KnowBe4 Inc. Class A | 238,915 | 7,471 | |||
* | eGain Corp. | 632,016 | 7,256 | |||
* | Daktronics Inc. | 1,075,036 | 7,084 | |||
*,1 | SEMrush Holdings Inc. Class A | 300,070 | 6,908 | |||
* | Synchronoss Technologies Inc. | 1,883,353 | 6,761 | |||
*,1 | Immersion Corp. | 734,828 | 6,444 | |||
*,1 | eMagin Corp. | 1,839,285 | 6,401 | |||
* | SkyWater Technology Inc. | 217,255 | 6,224 | |||
* | SharpSpring Inc. | 359,795 | 6,077 | |||
* | Zedge Inc. Class B | 321,932 | 5,927 |
Shares | Market Value ($000) | |||||
*,1 | PubMatic Inc. Class A | 151,639 | 5,925 | |||
QAD Inc. Class B | 65,999 | 5,690 | ||||
* | Rimini Street Inc. | 899,454 | 5,541 | |||
*,1 | Nuvve Holding Corp. | 393,100 | 5,433 | |||
*,1 | Zeta Global Holdings Corp. Class A | 634,339 | 5,328 | |||
* | Asure Software Inc. | 598,459 | 5,308 | |||
* | inTEST Corp. | 298,801 | 5,011 | |||
*,1 | Red Violet Inc. | 209,306 | 4,923 | |||
*,1 | Waitr Holdings Inc. | 2,726,520 | 4,853 | |||
*,1 | UiPath Inc. Class A | 70,500 | 4,789 | |||
*,1 | Remark Holdings Inc. | 2,572,778 | 4,785 | |||
* | Innodata Inc. | 680,970 | 4,767 | |||
* | Pixelworks Inc. | 1,359,763 | 4,637 | |||
* | Intevac Inc. | 684,708 | 4,615 | |||
*,1 | Cinedigm Corp. Class A | 3,539,726 | 4,566 | |||
*,1 | XpresSpa Group Inc. | 2,889,048 | 4,449 | |||
* | Computer Task Group Inc. | 451,316 | 4,364 | |||
*,1 | Intellicheck Inc. | 492,902 | 4,126 | |||
* | Issuer Direct Corp. | 136,279 | 3,696 | |||
* | AstroNova Inc. | 263,668 | 3,670 | |||
* | SecureWorks Corp. Class A | 196,945 | 3,649 | |||
*,1 | Intrusion Inc. | 234,463 | 3,613 | |||
*,1 | Flux Power Holdings Inc. | 305,717 | 3,555 | |||
*,1 | Super League Gaming Inc. | 623,033 | 3,358 | |||
*,1 | Verb Technology Co. Inc. | 1,623,673 | 3,329 | |||
* | TransAct Technologies Inc. | 233,313 | 3,203 | |||
* | IEC Electronics Corp. | 304,152 | 3,197 | |||
*,1 | Inpixon | 2,720,300 | 3,183 | |||
* | Everspin Technologies Inc. | 486,438 | 3,128 | |||
* | Amtech Systems Inc. | 316,298 | 3,049 | |||
*,1 | Boxlight Corp. Class A | 1,247,688 | 3,007 | |||
* | Park City Group Inc. | 516,204 | 2,844 | |||
*,1 | AudioEye Inc. | 162,265 | 2,724 | |||
* | GSI Technology Inc. | 478,006 | 2,686 | |||
*,1 | Exela Technologies Inc. | 1,122,448 | 2,683 | |||
*,1 | Alfi Inc. | 173,060 | 2,547 | |||
Richardson Electronics Ltd. | 298,391 | 2,480 | ||||
*,1 | Inuvo Inc. | 2,561,715 | 2,472 | |||
* | Steel Connect Inc. | 1,194,100 | 2,388 | |||
*,1 | Support.com Inc. | 596,136 | 2,301 | |||
* | QuickLogic Corp. | 305,090 | 2,206 | |||
*,1 | Akerna Corp. | 546,588 | 2,203 | |||
ARC Document Solutions Inc. | 1,009,239 | 2,170 | ||||
*,1 | Kubient Inc. | 377,300 | 2,154 | |||
*,1 | Research Frontiers Inc. | 819,079 | 1,941 | |||
* | Aehr Test Systems | 680,666 | 1,879 | |||
*,1 | Phunware Inc. | 1,312,927 | 1,825 | |||
* | WidePoint Corp. | 231,279 | 1,679 | |||
* | Qumu Corp. | 572,726 | 1,649 | |||
*,1 | One Stop Systems Inc. | 284,266 | 1,646 | |||
* | Key Tronic Corp. | 243,876 | 1,590 | |||
* | RealNetworks Inc. | 674,521 | 1,572 | |||
* | Mastech Digital Inc. | 104,493 | 1,562 | |||
* | NetSol Technologies Inc. | 324,689 | 1,529 | |||
*,1 | Net Element Inc. | 117,351 | 1,516 | |||
* | Aware Inc. | 391,427 | 1,452 | |||
* | SentinelOne Inc. Class A | 33,945 | 1,443 | |||
* | SeaChange International Inc. | 1,081,301 | 1,395 | |||
* | CSP Inc. | 129,730 | 1,388 | |||
* | Clear Secure Inc. Class A | 33,944 | 1,358 | |||
* | Data I/O Corp. | 180,694 | 1,231 |
Shares | Market Value ($000) | |||||
SilverSun Technologies Inc. | 99,500 | 1,211 | ||||
* | Oblong Inc. | 343,997 | 1,170 | |||
*,1 | NXT-ID Inc. | 1,249,652 | 1,112 | |||
* | Summit Wireless Technologies Inc. | 242,544 | 973 | |||
* | GSE Systems Inc. | 541,861 | 970 | |||
* | Streamline Health Solutions Inc. | 531,889 | 941 | |||
* | RCM Technologies Inc. | 227,498 | 937 | |||
* | Rubicon Technology Inc. | 96,189 | 920 | |||
* | BSQUARE Corp. | 183,538 | 875 | |||
*,1 | Bridgeline Digital Inc. | 200,570 | 862 | |||
* | Intapp Inc. | 30,190 | 845 | |||
* | 1stdibs.com Inc. | 23,986 | 835 | |||
*,1 | Creatd Inc. | 216,567 | 812 | |||
* | CVD Equipment Corp. | 165,351 | 744 | |||
*,1 | American Virtual Cloud Technologies Inc. | 96,107 | 579 | |||
* | DoubleVerify Holdings Inc. | 13,548 | 574 | |||
* | Crown ElectroKinetics Corp. | 114,945 | 486 | |||
* | AutoWeb Inc. | 111,035 | 346 | |||
* | CynergisTek Inc. | 158,445 | 322 | |||
* | Xometry Inc. Class A | 3,415 | 298 | |||
* | Evolving Systems Inc. | 72,375 | 177 | |||
* | Creative Realities Inc. | 66,218 | 144 | |||
* | Procore Technologies Inc. | 1,363 | 129 | |||
* | VerifyMe Inc. | 28,813 | 122 | |||
* | Alkami Technology Inc. | 3,426 | 122 | |||
*,2 | Media General Inc. CVR | 2,351,648 | 91 | |||
* | Trio-Tech International | 15,180 | 76 | |||
* | Duos Technologies Group Inc. | 3,933 | 40 | |||
339,305,053 | ||||||
Telecommunications (2.99%) | ||||||
Comcast Corp. Class A | 129,505,594 | 7,384,409 | ||||
Verizon Communications Inc. | 111,089,097 | 6,224,322 | ||||
AT&T Inc. | 201,673,800 | 5,804,172 | ||||
Cisco Systems Inc. | 107,124,995 | 5,677,625 | ||||
* | Charter Communications Inc. Class A | 3,464,242 | 2,499,277 | |||
* | T-Mobile US Inc. | 15,850,249 | 2,295,592 | |||
* | Roku Inc. Class A | 3,253,524 | 1,494,181 | |||
Motorola Solutions Inc. | 4,793,617 | 1,039,496 | ||||
* | Liberty Broadband Corp. Class C | 4,599,294 | 798,713 | |||
* | Arista Networks Inc. | 1,617,462 | 586,023 | |||
Lumen Technologies Inc. | 31,226,607 | 424,370 | ||||
Cable One Inc. | 153,534 | 293,681 | ||||
* | DISH Network Corp. Class A | 6,941,060 | 290,136 | |||
Juniper Networks Inc. | 9,261,287 | 253,296 | ||||
* | Ciena Corp. | 4,379,810 | 249,167 | |||
* | Altice USA Inc. Class A | 6,199,273 | 211,643 | |||
* | Lumentum Holdings Inc. | 2,145,792 | 176,019 | |||
* | Iridium Communications Inc. | 3,399,316 | 135,939 | |||
* | CommScope Holding Co. Inc. | 5,750,269 | 122,538 | |||
* | Viavi Solutions Inc. | 6,492,177 | 114,652 | |||
*,1 | fuboTV Inc. | 3,373,373 | 108,319 | |||
* | Vonage Holdings Corp. | 6,729,941 | 96,978 | |||
* | Viasat Inc. | 1,943,195 | 96,849 | |||
Cogent Communications Holdings Inc. | 1,210,123 | 93,046 | ||||
* | 8x8 Inc. | 2,941,731 | 81,662 | |||
Shenandoah Telecommunications Co. | 1,342,730 | 65,136 | ||||
Telephone & Data Systems Inc. | 2,841,633 | 64,391 | ||||
InterDigital Inc. | 873,175 | 63,768 | ||||
* | Liberty Broadband Corp. Class A | 371,387 | 62,456 | |||
Ubiquiti Inc. | 177,561 | 55,433 | ||||
* | Infinera Corp. | 4,904,229 | 50,023 |
Shares | Market Value ($000) | |||||
* | Plantronics Inc. | 1,065,094 | 44,446 | |||
* | Extreme Networks Inc. | 3,537,557 | 39,479 | |||
* | Vocera Communications Inc. | 918,676 | 36,609 | |||
*,1 | Globalstar Inc. | 20,230,213 | 36,010 | |||
* | NETGEAR Inc. | 814,358 | 31,206 | |||
* | WideOpenWest Inc. | 1,467,617 | 30,394 | |||
ADTRAN Inc. | 1,373,007 | 28,353 | ||||
* | EchoStar Corp. Class A | 1,163,348 | 28,258 | |||
*,1 | Inseego Corp. | 2,604,798 | 26,282 | |||
* | IDT Corp. Class B | 647,863 | 23,945 | |||
* | ORBCOMM Inc. | 2,122,194 | 23,853 | |||
*,1 | Harmonic Inc. | 2,746,462 | 23,400 | |||
* | Cincinnati Bell Inc. | 1,412,873 | 21,787 | |||
* | Anterix Inc. | 321,151 | 19,266 | |||
* | Consolidated Communications Holdings Inc. | 2,143,130 | 18,838 | |||
*,1 | Radius Global Infrastructure Inc. | 1,245,957 | 18,066 | |||
* | Digi International Inc. | 890,569 | 17,909 | |||
Comtech Telecommunications Corp. | 688,350 | 16,631 | ||||
* | United States Cellular Corp. | 439,353 | 15,953 | |||
* | Cambium Networks Corp. | 299,060 | 14,460 | |||
*,1 | Akoustis Technologies Inc. | 1,345,818 | 14,414 | |||
*,1 | Gogo Inc. | 1,244,916 | 14,167 | |||
*,1 | AST SpaceMobile Inc. | 1,092,700 | 14,140 | |||
* | Ribbon Communications Inc. | 1,856,481 | 14,128 | |||
Loral Space & Communications Inc. | 349,707 | 13,586 | ||||
ATN International Inc. | 297,693 | 13,542 | ||||
* | Ooma Inc. | 681,601 | 12,855 | |||
* | CalAmp Corp. | 979,092 | 12,454 | |||
* | Clearfield Inc. | 329,341 | 12,334 | |||
* | DZS Inc. | 504,286 | 10,464 | |||
* | Aviat Networks Inc. | 292,181 | 9,575 | |||
* | Casa Systems Inc. | 833,016 | 7,389 | |||
* | Powerfleet Inc. | 958,085 | 6,898 | |||
* | Airgain Inc. | 291,217 | 6,005 | |||
* | KVH Industries Inc. | 468,681 | 5,765 | |||
* | Hemisphere Media Group Inc. Class A | 478,202 | 5,643 | |||
*,1 | Applied Optoelectronics Inc. | 664,328 | 5,627 | |||
* | Genasys Inc. | 938,828 | 5,145 | |||
Spok Holdings Inc. | 533,126 | 5,129 | ||||
* | Alaska Communications Systems Group Inc. | 1,458,496 | 4,857 | |||
Bel Fuse Inc. Class B | 298,534 | 4,299 | ||||
*,1 | Resonant Inc. | 1,296,092 | 4,160 | |||
* | Lantronix Inc. | 748,150 | 3,860 | |||
* | PCTEL Inc. | 544,910 | 3,569 | |||
*,1 | Vislink Technologies Inc. | 1,154,500 | 3,290 | |||
* | Crexendo Inc. | 452,233 | 2,763 | |||
* | Franklin Wireless Corp. | 244,000 | 2,238 | |||
* | Communications Systems Inc. | 278,376 | 1,999 | |||
*,1 | GTT Communications Inc. | 808,106 | 1,964 | |||
* | TESSCO Technologies Inc. | 206,522 | 1,270 | |||
*,1 | Sonim Technologies Inc. | 1,572,056 | 877 | |||
Network-1 Technologies Inc. | 223,490 | 729 | ||||
* | ClearOne Inc. | 231,050 | 633 | |||
* | ComSovereign Holding Corp. | 262,440 | 609 | |||
* | Reliance Global Group Inc. | 159,588 | 563 | |||
* | Optical Cable Corp. | 62,844 | 240 | |||
* | ADDvantage Technologies Group Inc. | 47,738 | 126 | |||
*,1,2 | FTE Networks Inc. | 84,180 | 126 | |||
Bel Fuse Inc. Class A | 2,976 | 43 | ||||
37,655,932 |
�� | Shares | Market Value ($000) | ||||
Utilities (2.62%) | ||||||
NextEra Energy Inc. | 55,403,317 | 4,059,955 | ||||
Duke Energy Corp. | 21,727,668 | 2,144,955 | ||||
Southern Co. | 29,929,320 | 1,811,023 | ||||
Dominion Energy Inc. | 22,794,254 | 1,676,973 | ||||
Waste Management Inc. | 11,920,485 | 1,670,179 | ||||
Exelon Corp. | 27,588,371 | 1,222,441 | ||||
American Electric Power Co. Inc. | 14,121,727 | 1,194,557 | ||||
Sempra Energy | 8,519,634 | 1,128,681 | ||||
Xcel Energy Inc. | 15,211,763 | 1,002,151 | ||||
Waste Connections Inc. | 7,392,578 | 882,896 | ||||
Public Service Enterprise Group Inc. | 14,294,006 | 853,924 | ||||
WEC Energy Group Inc. | 8,926,001 | 793,968 | ||||
American Water Works Co. Inc. | 5,132,287 | 791,039 | ||||
Eversource Energy | 9,707,264 | 778,911 | ||||
DTE Energy Co. | 5,466,481 | 708,456 | ||||
Republic Services Inc. | 5,858,669 | 644,512 | ||||
Edison International | 10,724,597 | 620,096 | ||||
PPL Corp. | 20,653,636 | 577,682 | ||||
Ameren Corp. | 7,159,565 | 573,052 | ||||
FirstEnergy Corp. | 15,370,568 | 571,939 | ||||
Entergy Corp. | 5,672,754 | 565,574 | ||||
AES Corp. | 18,824,969 | 490,767 | ||||
CMS Energy Corp. | 8,190,302 | 483,883 | ||||
Consolidated Edison Inc. | 6,699,557 | 480,492 | ||||
* | PG&E Corp. | 42,077,242 | 427,926 | |||
CenterPoint Energy Inc. | 16,318,891 | 400,139 | ||||
Alliant Energy Corp. | 7,071,171 | 394,289 | ||||
Evergy Inc. | 6,416,220 | 387,732 | ||||
Atmos Energy Corp. | 3,659,801 | 351,743 | ||||
Essential Utilities Inc. | 6,949,596 | 317,597 | ||||
* | Sunrun Inc. | 5,469,447 | 305,086 | |||
NRG Energy Inc. | 6,920,426 | 278,893 | ||||
UGI Corp. | 5,918,399 | 274,081 | ||||
NiSource Inc. | 11,101,789 | 271,994 | ||||
Pinnacle West Capital Corp. | 3,187,356 | 261,268 | ||||
Vistra Corp. | 12,540,681 | 232,630 | ||||
OGE Energy Corp. | 5,658,459 | 190,407 | ||||
* | Stericycle Inc. | 2,592,847 | 185,518 | |||
IDACORP Inc. | 1,430,674 | 139,491 | ||||
National Fuel Gas Co. | 2,482,391 | 129,705 | ||||
* | Clean Harbors Inc. | 1,388,721 | 129,345 | |||
Hawaiian Electric Industries Inc. | 2,936,962 | 124,175 | ||||
PNM Resources Inc. | 2,417,396 | 117,896 | ||||
Portland General Electric Co. | 2,546,760 | 117,355 | ||||
Black Hills Corp. | 1,785,497 | 117,182 | ||||
* | Evoqua Water Technologies Corp. | 3,401,317 | 114,896 | |||
ONE Gas Inc. | 1,501,912 | 111,322 | ||||
Avangrid Inc. | 2,141,911 | 110,158 | ||||
New Jersey Resources Corp. | 2,733,134 | 108,150 | ||||
ALLETE Inc. | 1,476,721 | 103,341 | ||||
Southwest Gas Holdings Inc. | 1,536,428 | 101,696 | ||||
Spire Inc. | 1,385,143 | 100,104 | ||||
* | Casella Waste Systems Inc. Class A | 1,420,520 | 90,104 | |||
* | Sunnova Energy International Inc. | 2,368,349 | 89,192 | |||
Ormat Technologies Inc. | 1,268,551 | 88,202 | ||||
NorthWestern Corp. | 1,433,144 | 86,304 | ||||
Avista Corp. | 1,966,125 | 83,895 | ||||
1 | South Jersey Industries Inc. | 3,167,363 | 82,130 | |||
American States Water Co. | 1,031,749 | 82,086 | ||||
California Water Service Group | 1,403,378 | 77,944 |
Shares | Market Value ($000) | |||||
MGE Energy Inc. | 1,028,725 | 76,578 | ||||
Covanta Holding Corp. | 3,390,911 | 59,714 | ||||
Clearway Energy Inc. Class C | 2,122,516 | 56,204 | ||||
Chesapeake Utilities Corp. | 461,802 | 55,569 | ||||
SJW Group | 826,207 | 52,299 | ||||
* | Harsco Corp. | 2,233,071 | 45,599 | |||
Northwest Natural Holding Co. | 867,135 | 45,542 | ||||
Middlesex Water Co. | 466,350 | 38,115 | ||||
* | US Ecology Inc. | 907,975 | 34,067 | |||
Clearway Energy Inc. Class A | 1,188,348 | 29,970 | ||||
1 | Unitil Corp. | 428,232 | 22,683 | |||
York Water Co. | 379,243 | 17,180 | ||||
*,1 | Vertex Energy Inc. | 1,072,137 | 14,184 | |||
* | Heritage-Crystal Clean Inc. | 462,835 | 13,737 | |||
* | Pure Cycle Corp. | 939,625 | 12,986 | |||
*,1 | Cadiz Inc. | 738,482 | 10,043 | |||
Artesian Resources Corp. Class A | 254,078 | 9,342 | ||||
1 | RGC Resources Inc. | 293,244 | 7,393 | |||
Global Water Resources Inc. | 413,677 | 7,066 | ||||
*,1 | Aqua Metals Inc. | 1,739,433 | 5,218 | |||
Genie Energy Ltd. Class B | 748,750 | 4,732 | ||||
1 | Spark Energy Inc. Class A | 407,350 | 4,615 | |||
* | Sharps Compliance Corp. | 381,070 | 3,925 | |||
* | Advanced Emissions Solutions Inc. | 446,836 | 3,311 | |||
* | Perma-Fix Environmental Services Inc. | 289,060 | 2,067 | |||
*,1 | Charah Solutions Inc. | 288,382 | 1,456 | |||
* | Quest Resource Holding Corp. | 199,411 | 1,266 | |||
*,1 | Fuel Tech Inc. | 508,510 | 1,195 | |||
* | BioHiTech Global Inc. | 611,541 | 887 | |||
32,949,025 | ||||||
Total Common Stocks (Cost $545,077,856) | 1,252,016,681 | |||||
Preferred Stock (0.00%) | ||||||
Air T Funding Pfd., 8.000%, 6/7/24 (Cost $36) | 1,727 | 42 | ||||
Coupon | ||||||
Temporary Cash Investments (0.88%) | ||||||
Money Market Fund (0.88%) | ||||||
7,8 | Vanguard Market Liquidity Fund (Cost $11,135,205) | 0.056% | 111,359,670 | 11,135,968 | ||
Total Investments (100.40%) (Cost $556,213,097) | 1,263,152,691 | |||||
Other Assets and Liabilities—Net (-0.40%) | (5,078,185) | |||||
Net Assets (100%) | 1,258,074,506 |
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 $6,159,744,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Considered an affiliated company of the fund as the fund owns more than 5% of the outstanding voting securities of such company. |
4 | Restricted securities totaling $1,377,000, representing 0.0% of net assets. |
5 | 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 June 30, 2021, the aggregate value was $82,644,000, representing 0.0% of net assets. |
6 | “Other” represents securities that are not classified by the fund’s benchmark index. |
7 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
8 | Collateral of $6,537,053,000 was received for securities on loan, of which $6,352,245,000 is held in Vanguard Market Liquidity Fund and $184,808,000 is held in cash. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
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. In 2020, a third-party service provider began performing certain administrative and accounting services for Vanguard 500 Index Fund, Vanguard Growth Index Fund, Vanguard Value Index Fund, and Vanguard Large-Cap Index Fund. There were no other 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) | Not applicable. |
(a)(2) | Certifications filed herewith. |
(b) | Certifications field 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 INDEX FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: August 19, 2021
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 INDEX FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: August 19, 2021
VANGUARD INDEX FUNDS | ||
BY: | /s/ JOHN BENDL* | |
JOHN BENDL | ||
CHIEF FINANCIAL OFFICER |
Date: August 19, 2021
* By: | /s/ Anne E. Robinson |
Anne E. Robinson, pursuant to a Power of Attorney, filed herewith.
Each person whose signature appears below (the “Principals”) hereby constitutes and appoints Anne E. Robinson and Laura J. Merianos, and each of them, with full power to act without the other, as the true and lawful attorney-in-fact and agent, with full and several power of substitution and re-substitution, of such undersigned person with authority to take any appropriate action to execute in the name of and on behalf of such undersigned person, and to file with the U.S. Securities and Exchange Commission (“Commission”), any and all registration statements on Form N-1A (or any successors thereto), any and all amendments (including without limitation pre-effective and post-effective amendments) thereto, any and all applications for exemptive relief from state or federal regulations, and any and all amendments thereto, or any other forms of documents and to perform any and all such acts as such attorney-in-fact and agent may deem necessary or advisable to enable the following named persons that are registered with the Commission (the “Registrants”) to comply with the applicable laws of the United States, any individual state or similar jurisdiction of the United States, and in connection therewith to execute and file all requisite papers and documents, including but not limited to, applications, reports, notices, surety bonds, irrevocable consents and appointments of attorneys for service of process; and granting to such attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act requisite and necessary to be done in connection therewith, as fully as the relevant Registrant and undersigned person might or could do herself, himself or itself or in person, hereby ratifying and confirming all that such attorneys-in-fact and agents or any of them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof:
Vanguard Wellington Fund (2-11444) | Vanguard New York Tax-Free Funds (33-2908) |
Vanguard Windsor Funds (2-14336) | Vanguard Pennsylvania Tax-Free Funds (33-2907) |
Vanguard World Fund (2-17620) | Vanguard New Jersey Tax-Free Funds (33-17351) |
Vanguard Explorer Fund (2-27203) | Vanguard Ohio Tax-Free Funds (33-34261) |
Vanguard Morgan Growth Fund (2-29601) | Vanguard Convertible Securities Fund (33-4424) |
Vanguard Wellesley Income Fund (2-31333) | Vanguard Quantitative Funds (33-8553) |
Vanguard Fixed Income Securities Funds (2-47371) | Vanguard Fenway Funds (33-19446) |
Vanguard Money Market Reserves (2-52698) | Vanguard Malvern Funds (33-23444) |
Vanguard Index Funds (2-56846) | Vanguard International Equity Index Funds (33-32548) |
Vanguard Municipal Bond Funds (2-57689) | Vanguard Variable Insurance Funds (33-32216) |
Vanguard Trustees’ Equity Fund (2-65955-99) | Vanguard STAR Funds (2-88373) |
Vanguard Specialized Funds (2-88116) | Vanguard Whitehall Funds (33-64845) |
Vanguard Chester Funds (2-92948) | Vanguard Tax-Managed Funds (33-53683) |
Vanguard California Tax-Free Funds (33-1569) | Vanguard Scottsdale Funds (333-11763) |
Vanguard Massachusetts Tax-Exempt Funds (333-63579) | Vanguard Horizon Funds (33-56443) |
Vanguard Valley Forge Funds (33-48863) | Vanguard Institutional Index Funds (33-34494) |
Vanguard CMT Funds (333-111362) | Vanguard Admiral Funds (33-49023) |
Vanguard Montgomery Funds (333-145624) | Vanguard Bond Index Funds (33-6001) |
Vanguard Charlotte Funds (333-177613) |
This Power of Attorney shall be governed by and interpreted in accordance with the laws of the Commonwealth of Pennsylvania.
The Principals hereby revoke all powers of attorney which they may have heretofore granted regarding the subject matter hereof. All past acts of such attorneys-in-fact and agents in furtherance of the foregoing are hereby ratified and confirmed.
Each of the Principals has executed this Power of Attorney in the capacity and on the date indicated opposite their name. This Power of Attorney may be executed in multiple counterparts, each of which shall be deemed an original, but which taken together shall constitute one instrument.
NAME | TITLE | DATE | ||
/s/ Mortimer J. Buckley |
Chairman, President and Chief Executive Officer |
July 26, 2021 | ||
Mortimer J. Buckley | ||||
/s/ Emerson U. Fullwood | Trustee | July 26, 2021 | ||
Emerson U. Fullwood | ||||
/s/ Amy Gutmann | Trustee | July 28, 2021 | ||
Amy Gutmann | ||||
/s/ F. Joseph Loughrey | Trustee | July 26, 2021 | ||
F. Joseph Loughrey | ||||
/s/ Mark Loughridge | Trustee | July 26, 2021 | ||
Mark Loughridge | ||||
/s/ Scott C. Malpass | Trustee | July 27, 2021 | ||
Scott C. Malpass | ||||
/s/ Deanna Mulligan | Trustee | July 26, 2021 | ||
Deanna Mulligan | ||||
/s/ André F. Perold | Trustee | July 26, 2021 | ||
André F. Perold | ||||
/s/ Sarah Bloom Raskin | Trustee | July 29, 2021 | ||
Sarah Bloom Raskin | ||||
/s/ David Thomas | Trustee | July 26, 2021 | ||
David Thomas | ||||
/s/ Peter F. Volanakis | Trustee | July 28, 2021 | ||
Peter F. Volanakis | ||||
/s/ John Bendl | Chief Financial Officer and Principal Accounting Officer | July 26, 2021 | ||
John Bendl |
PROPOSED RESOLUTION
APPROVAL OF A POWER OF ATTORNEY |
RESOLVED, that the proposed Power of Attorney, in substantially the form presented, constituting and appointing Anne E. Robinson and Laura J. Merianos (each with full power to act alone) as attorneys-in-fact and agents for (i) each of the Directors, Trustees, principal executive officer and principal financial and accounting officer of the investment companies that are listed in the proposed Power of Attorney (each of such investment companies, a “Vanguard Company”); and (ii) each of the Vanguard Companies, for the purpose of executing and filing for and on behalf of the Vanguard Companies all requisite papers and documents (including registration statements and pre- and post-effective amendments thereto) with the U.S. Securities and Exchange Commission and the offices of the securities administrators of the states and similar jurisdictions of the United States to comply with the applicable laws of the United States, any individual state or similar jurisdiction of the United States, is hereby approved and may be executed by each designated Director/Trustee, officer and Vanguard Company.