Vanguard® Small-Cap Growth Index Fund
Schedule of Investments (unaudited)
As of March 31, 2023
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
Shares | Market Value ($000) | |||||
Common Stocks (99.8%) | ||||||
Basic Materials (2.2%) | ||||||
Royal Gold Inc. | 980,437 | 127,172 | ||||
* | RBC Bearings Inc. | 433,771 | 100,952 | |||
Hexcel Corp. | 1,259,591 | 85,967 | ||||
Balchem Corp. | 480,470 | 60,770 | ||||
* | Livent Corp. | 2,676,528 | 58,134 | |||
* | MP Materials Corp. | 1,589,680 | 44,813 | |||
Quaker Chemical Corp. | 200,960 | 39,780 | ||||
* | Ingevity Corp. | 529,854 | 37,895 | |||
NewMarket Corp. | 101,177 | 36,928 | ||||
Compass Minerals International Inc. | 306,641 | 10,515 | ||||
* | Century Aluminum Co. | 755,275 | 7,553 | |||
*,1 | Amyris Inc. | 3,785,615 | 5,148 | |||
615,627 | ||||||
Consumer Discretionary (15.3%) | ||||||
* | Liberty Media Corp.-Liberty Formula One Class C | 2,933,660 | 219,526 | |||
* | Deckers Outdoor Corp. | 393,621 | 176,952 | |||
* | Five Below Inc. | 787,861 | 162,276 | |||
*,1 | Floor & Decor Holdings Inc. Class A | 1,507,795 | 148,096 | |||
Churchill Downs Inc. | 502,431 | 129,150 | ||||
* | DraftKings Inc. Class A | 5,737,984 | 111,087 | |||
* | Crocs Inc. | 876,572 | 110,834 | |||
Texas Roadhouse Inc. Class A | 999,642 | 108,021 | ||||
Gentex Corp. | 3,497,898 | 98,046 | ||||
* | Planet Fitness Inc. Class A | 1,246,623 | 96,825 | |||
Tempur Sealy International Inc. | 2,442,781 | 96,465 | ||||
* | Skechers USA Inc. Class A | 2,006,202 | 95,335 | |||
Pool Corp. | 277,253 | 94,943 | ||||
Nexstar Media Group Inc. Class A | 535,340 | 92,432 | ||||
* | SiteOne Landscape Supply Inc. | 672,518 | 92,048 | |||
Wyndham Hotels & Resorts Inc. | 1,290,509 | 87,561 | ||||
Wingstop Inc. | 447,399 | 82,134 | ||||
* | Fox Factory Holding Corp. | 631,831 | 76,685 | |||
* | Hyatt Hotels Corp. Class A | 672,242 | 75,150 | |||
Vail Resorts Inc. | 300,824 | 70,297 | ||||
Boyd Gaming Corp. | 1,092,221 | 70,033 | ||||
* | Bright Horizons Family Solutions Inc. | 861,882 | 66,356 | |||
* | Visteon Corp. | 421,442 | 66,095 | |||
* | RH | 258,247 | 62,896 | |||
* | elf Beauty Inc. | 756,009 | 62,257 | |||
* | Skyline Champion Corp. | 808,732 | 60,841 | |||
* | Duolingo Inc. Class A | 420,123 | 59,905 |
Shares | Market Value ($000) | |||||
World Wrestling Entertainment Inc. Class A | 648,231 | 59,158 | ||||
* | Hilton Grand Vacations Inc. | 1,287,580 | 57,207 | |||
Choice Hotels International Inc. | 477,125 | 55,914 | ||||
* | Ollie's Bargain Outlet Holdings Inc. | 929,249 | 53,841 | |||
* | Grand Canyon Education Inc. | 463,188 | 52,757 | |||
* | Peloton Interactive Inc. Class A | 4,638,449 | 52,600 | |||
* | YETI Holdings Inc. | 1,287,559 | 51,502 | |||
Madison Square Garden Sports Corp. | 259,832 | 50,628 | ||||
* | Topgolf Callaway Brands Corp. | 2,069,461 | 44,742 | |||
Columbia Sportswear Co. | 464,393 | 41,907 | ||||
LCI Industries | 360,578 | 39,617 | ||||
* | Sonos Inc. | 1,900,780 | 37,293 | |||
Inter Parfums Inc. | 261,743 | 37,230 | ||||
*,1 | Wayfair Inc. Class A | 1,051,958 | 36,124 | |||
Papa John's International Inc. | 465,984 | 34,916 | ||||
* | Dorman Products Inc. | 398,785 | 34,399 | |||
* | Frontdoor Inc. | 1,217,227 | 33,936 | |||
* | LGI Homes Inc. | 295,851 | 33,736 | |||
* | Penn Entertainment Inc. | 1,130,590 | 33,533 | |||
* | SeaWorld Entertainment Inc. | 524,833 | 32,178 | |||
* | Shake Shack Inc. Class A | 557,875 | 30,956 | |||
* | TripAdvisor Inc. | 1,531,917 | 30,424 | |||
* | Gentherm Inc. | 496,021 | 29,970 | |||
* | Chegg Inc. | 1,796,102 | 29,276 | |||
* | Leslie's Inc. | 2,602,777 | 28,657 | |||
*,1 | QuantumScape Corp. Class A | 3,464,091 | 28,336 | |||
* | Six Flags Entertainment Corp. | 1,056,488 | 28,219 | |||
Jack in the Box Inc. | 307,927 | 26,971 | ||||
* | Driven Brands Holdings Inc. | 876,066 | 26,554 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 353,996 | 23,895 | |||
Levi Strauss & Co. Class A | 1,300,089 | 23,701 | ||||
* | ACV Auctions Inc. Class A | 1,813,188 | 23,408 | |||
* | Madison Square Garden Entertainment Corp. | 393,679 | 23,255 | |||
* | Lyft Inc. Class A | 2,411,784 | 22,357 | |||
*,1 | Luminar Technologies Inc. Class A | 3,373,864 | 21,896 | |||
* | Allegiant Travel Co. | 234,319 | 21,553 | |||
* | Dave & Buster's Entertainment Inc. | 578,273 | 21,275 | |||
* | Sabre Corp. | 4,920,940 | 21,111 | |||
* | Cavco Industries Inc. | 61,862 | 19,656 | |||
*,1 | Dutch Bros Inc. Class A | 614,138 | 19,425 | |||
Steven Madden Ltd. | 525,231 | 18,908 | ||||
* | Coursera Inc. | 1,574,438 | 18,138 | |||
* | Boot Barn Holdings Inc. | 223,543 | 17,132 | |||
* | iRobot Corp. | 390,431 | 17,038 | |||
* | Revolve Group Inc. Class A | 611,790 | 16,090 | |||
* | Portillo's Inc. Class A | 721,241 | 15,413 | |||
Spirit Airlines Inc. | 819,924 | 14,078 | ||||
*,1 | Carvana Co. Class A | 1,419,660 | 13,898 | |||
* | Overstock.com Inc. | 675,954 | 13,702 | |||
* | Integral Ad Science Holding Corp. | 915,299 | 13,061 | |||
1 | Camping World Holdings Inc. Class A | 602,446 | 12,573 | |||
* | Stride Inc. | 304,557 | 11,954 | |||
* | Figs Inc. Class A | 1,892,561 | 11,715 | |||
Monro Inc. | 233,525 | 11,543 | ||||
* | Life Time Group Holdings Inc. | 721,722 | 11,519 | |||
* | Sun Country Airlines Holdings Inc. | 555,119 | 11,380 | |||
* | Corsair Gaming Inc. | 600,721 | 11,023 | |||
*,1 | Fisker Inc. Class A | 1,625,312 | 9,979 |
Shares | Market Value ($000) | |||||
*,1 | Mister Car Wash Inc. | 1,134,006 | 9,775 | |||
* | Sweetgreen Inc. Class A | 1,238,094 | 9,707 | |||
*,1 | Bowlero Corp. | 572,036 | 9,696 | |||
* | Cars.com Inc. | 468,865 | 9,049 | |||
* | 2U Inc. | 1,119,978 | 7,672 | |||
* | Vizio Holding Corp. Class A | 787,608 | 7,230 | |||
* | Sciplay Corp. Class A | 318,153 | 5,396 | |||
* | Petco Health & Wellness Co. Inc. Class A | 592,006 | 5,328 | |||
* | Udemy Inc. | 574,159 | 5,070 | |||
* | Frontier Group Holdings Inc. | 482,607 | 4,749 | |||
*,1 | Dream Finders Homes Inc. Class A | 313,075 | 4,148 | |||
* | Stitch Fix Inc. Class A | 579,606 | 2,962 | |||
* | SES AI Corp. | 901,095 | 2,658 | |||
*,1 | Arhaus Inc. Class A | 313,770 | 2,601 | |||
* | Rush Street Interactive Inc. | 821,271 | 2,554 | |||
* | Angi Inc. Class A | 1,104,888 | 2,508 | |||
*,1 | ContextLogic Inc. Class A | 4,269,836 | 1,904 | |||
* | Vacasa Inc. Class A | 1,935,023 | 1,862 | |||
*,1 | Canoo Inc. | 2,609,617 | 1,703 | |||
*,1 | Allbirds Inc. Class A | 644,980 | 774 | |||
* | Brilliant Earth Group Inc. Class A | 144,507 | 565 | |||
4,393,414 | ||||||
Consumer Staples (3.3%) | ||||||
* | Darling Ingredients Inc. | 2,394,456 | 139,836 | |||
Casey's General Stores Inc. | 556,609 | 120,484 | ||||
Lamb Weston Holdings Inc. | 1,074,447 | 112,301 | ||||
* | BellRing Brands Inc. | 2,006,390 | 68,217 | |||
* | Simply Good Foods Co. | 1,485,029 | 59,060 | |||
* | Celsius Holdings Inc. | 568,721 | 52,857 | |||
* | Boston Beer Co. Inc. Class A | 137,190 | 45,094 | |||
* | Freshpet Inc. | 680,922 | 45,070 | |||
Coca-Cola Consolidated Inc. | 68,718 | 36,770 | ||||
WD-40 Co. | 202,870 | 36,121 | ||||
* | Post Holdings Inc. | 395,823 | 35,573 | |||
Cal-Maine Foods Inc. | 560,114 | 34,105 | ||||
Lancaster Colony Corp. | 144,181 | 29,251 | ||||
J & J Snack Foods Corp. | 172,544 | 25,575 | ||||
* | National Beverage Corp. | 349,724 | 18,437 | |||
Medifast Inc. | 162,691 | 16,866 | ||||
* | Beauty Health Co. | 1,289,527 | 16,287 | |||
Utz Brands Inc. | 969,376 | 15,966 | ||||
*,1 | Beyond Meat Inc. | 861,844 | 13,988 | |||
Tootsie Roll Industries Inc. | 212,744 | 9,554 | ||||
* | Sovos Brands Inc. | 525,600 | 8,767 | |||
* | Olaplex Holdings Inc. | 1,450,973 | 6,196 | |||
* | USANA Health Sciences Inc. | 87,230 | 5,487 | |||
* | Vital Farms Inc. | 179,559 | 2,747 | |||
*,1 | BRC Inc. Class A | 284,116 | 1,460 | |||
956,069 | ||||||
Energy (6.6%) | ||||||
Targa Resources Corp. | 3,383,115 | 246,798 | ||||
* | First Solar Inc. | 756,341 | 164,504 | |||
NOV Inc. | 5,867,886 | 108,615 | ||||
PDC Energy Inc. | 1,320,722 | 84,764 | ||||
Civitas Resources Inc. | 1,198,898 | 81,933 | ||||
ChampionX Corp. | 2,967,851 | 80,518 | ||||
Matador Resources Co. | 1,688,787 | 80,471 |
Shares | Market Value ($000) | |||||
Texas Pacific Land Corp. | 46,000 | 78,247 | ||||
EQT Corp. | 2,423,927 | 77,348 | ||||
* | Noble Corp. plc | 1,605,490 | 63,369 | |||
* | Weatherford International plc | 1,058,459 | 62,820 | |||
* | Denbury Inc. | 706,314 | 61,894 | |||
* | Shoals Technologies Group Inc. Class A | 2,499,175 | 56,956 | |||
Magnolia Oil & Gas Corp. Class A | 2,578,690 | 56,422 | ||||
* | Array Technologies Inc. | 2,133,680 | 46,685 | |||
*,1 | ChargePoint Holdings Inc. | 4,079,745 | 42,715 | |||
Cactus Inc. Class A | 948,430 | 39,104 | ||||
* | Transocean Ltd. | 5,147,213 | 32,736 | |||
Alpha Metallurgical Resources Inc. | 203,955 | 31,817 | ||||
* | Callon Petroleum Co. | 920,926 | 30,796 | |||
Liberty Energy Inc. Class A | 2,367,406 | 30,326 | ||||
New Fortress Energy Inc. | 936,365 | 27,557 | ||||
* | Oceaneering International Inc. | 1,498,898 | 26,426 | |||
1 | Sitio Royalties Corp. | 1,137,687 | 25,712 | |||
SM Energy Co. | 912,053 | 25,683 | ||||
Helmerich & Payne Inc. | 703,143 | 25,137 | ||||
* | Ameresco Inc. Class A | 482,249 | 23,736 | |||
*,1 | SunPower Corp. | 1,297,182 | 17,953 | |||
*,1 | FuelCell Energy Inc. | 6,104,331 | 17,397 | |||
Comstock Resources Inc. | 1,457,535 | 15,727 | ||||
* | Dril-Quip Inc. | 509,562 | 14,619 | |||
Enviva Inc. | 453,004 | 13,083 | ||||
*,1 | Stem Inc. | 2,183,714 | 12,382 | |||
* | NexTier Oilfield Solutions Inc. | 1,494,142 | 11,878 | |||
RPC Inc. | 1,288,740 | 9,910 | ||||
* | Helix Energy Solutions Group Inc. | 1,072,440 | 8,301 | |||
*,1 | NEXTracker Inc. Class A | 221,716 | 8,039 | |||
*,1 | EVgo Inc. Class A | 1,028,660 | 8,013 | |||
Core Laboratories NV | 347,913 | 7,671 | ||||
* | Fluence Energy Inc. Class A | 303,310 | 6,142 | |||
1 | Kinetik Holdings Inc. Class A | 159,822 | 5,002 | |||
*,1 | Tellurian Inc. | 3,745,926 | 4,607 | |||
* | Atlas Energy Solutions Inc. Class A | 131,805 | 2,245 | |||
* | OPAL Fuels Inc. Class A | 86,154 | 601 | |||
1,876,659 | ||||||
Financials (4.0%) | ||||||
Kinsale Capital Group Inc. | 327,618 | 98,335 | ||||
* | Robinhood Markets Inc. Class A | 9,148,849 | 88,835 | |||
Erie Indemnity Co. Class A | 379,554 | 87,928 | ||||
Morningstar Inc. | 380,679 | 77,289 | ||||
Blue Owl Capital Inc. Class A | 6,654,546 | 73,732 | ||||
*,1 | SoFi Technologies Inc. | 11,151,419 | 67,689 | |||
Pinnacle Financial Partners Inc. | 1,085,637 | 59,884 | ||||
* | Ryan Specialty Holdings Inc. Class A | 1,257,186 | 50,589 | |||
*,1 | Credit Acceptance Corp. | 95,781 | 41,764 | |||
ServisFirst Bancshares Inc. | 731,174 | 39,944 | ||||
* | Focus Financial Partners Inc. Class A | 737,995 | 38,280 | |||
Hamilton Lane Inc. Class A | 480,655 | 35,559 | ||||
Houlihan Lokey Inc. Class A | 376,598 | 32,949 | ||||
Western Alliance Bancorp | 778,949 | 27,684 | ||||
PJT Partners Inc. Class A | 328,582 | 23,720 | ||||
*,1 | Trupanion Inc. | 551,449 | 23,652 | |||
* | BRP Group Inc. Class A | 919,263 | 23,405 | |||
Cohen & Steers Inc. | 364,552 | 23,317 | ||||
*,1 | Riot Platforms Inc. | 2,256,594 | 22,543 |
Shares | Market Value ($000) | |||||
StepStone Group Inc. Class A | 801,887 | 19,462 | ||||
* | Clearwater Analytics Holdings Inc. Class A | 1,129,126 | 18,021 | |||
Safehold Inc. | 571,581 | 16,787 | ||||
*,1 | Upstart Holdings Inc. | 1,039,158 | 16,512 | |||
* | Goosehead Insurance Inc. Class A | 310,337 | 16,200 | |||
*,1 | Marathon Digital Holdings Inc. | 1,650,845 | 14,395 | |||
Virtu Financial Inc. Class A | 696,663 | 13,167 | ||||
* | Oscar Health Inc. Class A | 1,889,326 | 12,356 | |||
* | Open Lending Corp. Class A | 1,597,312 | 11,245 | |||
TFS Financial Corp. | 835,230 | 10,549 | ||||
*,1 | Lemonade Inc. | 720,254 | 10,271 | |||
* | Palomar Holdings Inc. | 176,775 | 9,758 | |||
* | Triumph Financial Inc. | 154,686 | 8,981 | |||
P10 Inc. Class A | 605,927 | 6,126 | ||||
Live Oak Bancshares Inc. | 245,826 | 5,991 | ||||
* | AssetMark Financial Holdings Inc. | 164,719 | 5,180 | |||
* | LendingTree Inc. | 82,011 | 2,186 | |||
*,1 | Hagerty Inc. Class A | 157,133 | 1,373 | |||
* | Silvergate Capital Corp. Class A | 348,566 | 565 | |||
1,136,223 | ||||||
Health Care (19.6%) | ||||||
* | Exact Sciences Corp. | 2,662,746 | 180,561 | |||
Bio-Techne Corp. | 2,348,420 | 174,229 | ||||
* | Sarepta Therapeutics Inc. | 1,245,840 | 171,714 | |||
* | Penumbra Inc. | 541,757 | 150,982 | |||
* | Neurocrine Biosciences Inc. | 1,442,517 | 146,012 | |||
* | Repligen Corp. | 788,638 | 132,775 | |||
* | Masimo Corp. | 706,590 | 130,394 | |||
Bruker Corp. | 1,537,532 | 121,219 | ||||
Chemed Corp. | 221,994 | 119,377 | ||||
* | Shockwave Medical Inc. | 539,938 | 117,075 | |||
* | Inspire Medical Systems Inc. | 433,972 | 101,580 | |||
* | Apellis Pharmaceuticals Inc. | 1,453,863 | 95,897 | |||
* | Exelixis Inc. | 4,842,950 | 94,002 | |||
* | Natera Inc. | 1,568,091 | 87,060 | |||
* | Novocure Ltd. | 1,395,809 | 83,944 | |||
* | Lantheus Holdings Inc. | 1,009,471 | 83,342 | |||
* | Oak Street Health Inc. | 1,998,053 | 77,285 | |||
* | Halozyme Therapeutics Inc. | 2,023,365 | 77,272 | |||
* | 10X Genomics Inc. Class A | 1,379,746 | 76,976 | |||
* | Charles River Laboratories International Inc. | 381,002 | 76,894 | |||
* | Option Care Health Inc. | 2,414,662 | 76,714 | |||
Ensign Group Inc. | 791,030 | 75,575 | ||||
* | HealthEquity Inc. | 1,265,101 | 74,274 | |||
*,1 | agilon health Inc. | 3,077,137 | 73,082 | |||
* | Ionis Pharmaceuticals Inc. | 2,030,334 | 72,564 | |||
* | Alkermes plc | 2,457,630 | 69,281 | |||
* | Intra-Cellular Therapies Inc. | 1,271,784 | 68,867 | |||
* | QuidelOrtho Corp. | 745,782 | 66,442 | |||
* | Globus Medical Inc. Class A | 1,164,181 | 65,939 | |||
* | Medpace Holdings Inc. | 348,152 | 65,470 | |||
* | Merit Medical Systems Inc. | 850,865 | 62,921 | |||
* | Haemonetics Corp. | 754,277 | 62,416 | |||
* | Integra LifeSciences Holdings Corp. | 1,037,515 | 59,564 | |||
* | Teladoc Health Inc. | 2,188,598 | 56,685 | |||
* | ICU Medical Inc. | 339,942 | 56,077 | |||
* | Neogen Corp. | 2,903,050 | 53,764 | |||
* | PTC Therapeutics Inc. | 1,101,498 | 53,357 |
Shares | Market Value ($000) | |||||
* | iRhythm Technologies Inc. | 426,855 | 52,943 | |||
* | Doximity Inc. Class A | 1,594,228 | 51,621 | |||
CONMED Corp. | 455,279 | 47,285 | ||||
* | Cytokinetics Inc. | 1,341,522 | 47,208 | |||
* | Intellia Therapeutics Inc. | 1,248,009 | 46,513 | |||
* | Amicus Therapeutics Inc. | 4,191,745 | 46,486 | |||
* | STAAR Surgical Co. | 719,842 | 46,034 | |||
* | Evolent Health Inc. Class A | 1,359,062 | 44,102 | |||
* | Axonics Inc. | 739,131 | 40,327 | |||
* | Blueprint Medicines Corp. | 895,305 | 40,280 | |||
* | Certara Inc. | 1,667,877 | 40,212 | |||
* | Ultragenyx Pharmaceutical Inc. | 995,663 | 39,926 | |||
* | Inari Medical Inc. | 640,613 | 39,551 | |||
* | Tandem Diabetes Care Inc. | 963,032 | 39,109 | |||
* | Omnicell Inc. | 666,555 | 39,107 | |||
* | Arrowhead Pharmaceuticals Inc. | 1,536,178 | 39,019 | |||
* | Vaxcyte Inc. | 1,001,636 | 37,541 | |||
* | Surgery Partners Inc. | 1,036,204 | 35,718 | |||
* | Progyny Inc. | 1,109,059 | 35,623 | |||
* | Denali Therapeutics Inc. | 1,520,337 | 35,029 | |||
* | Insmed Inc. | 2,036,018 | 34,714 | |||
* | Vir Biotechnology Inc. | 1,491,506 | 34,707 | |||
* | Guardant Health Inc. | 1,455,512 | 34,117 | |||
* | ACADIA Pharmaceuticals Inc. | 1,812,647 | 34,114 | |||
* | Glaukos Corp. | 677,364 | 33,936 | |||
* | NuVasive Inc. | 779,672 | 32,208 | |||
* | REVOLUTION Medicines Inc. | 1,477,099 | 31,994 | |||
* | Sage Therapeutics Inc. | 757,918 | 31,802 | |||
* | NeoGenomics Inc. | 1,791,612 | 31,192 | |||
* | Beam Therapeutics Inc. | 999,530 | 30,606 | |||
*,1 | Corcept Therapeutics Inc. | 1,367,240 | 29,614 | |||
* | TG Therapeutics Inc. | 1,954,069 | 29,389 | |||
* | Relay Therapeutics Inc. | 1,723,367 | 28,384 | |||
* | AtriCure Inc. | 661,222 | 27,408 | |||
* | Pacira BioSciences Inc. | 651,630 | 26,593 | |||
* | Sotera Health Co. | 1,475,554 | 26,427 | |||
* | Xencor Inc. | 895,806 | 24,984 | |||
*,1 | Ginkgo Bioworks Holdings Inc. Class A | 18,415,852 | 24,493 | |||
* | CorVel Corp. | 128,297 | 24,412 | |||
* | Veracyte Inc. | 1,073,025 | 23,928 | |||
* | Privia Health Group Inc. | 854,738 | 23,599 | |||
* | FibroGen Inc. | 1,264,095 | 23,588 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 1,672,044 | 23,425 | |||
* | R1 RCM Inc. | 1,559,201 | 23,388 | |||
* | Amylyx Pharmaceuticals Inc. | 792,771 | 23,260 | |||
* | Apollo Medical Holdings Inc. | 636,412 | 23,210 | |||
* | Cerevel Therapeutics Holdings Inc. | 937,530 | 22,866 | |||
* | Silk Road Medical Inc. | 541,764 | 21,199 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 1,961,087 | 20,631 | |||
* | Arvinas Inc. | 677,865 | 18,519 | |||
* | Nevro Corp. | 506,139 | 18,297 | |||
* | SpringWorks Therapeutics Inc. | 700,324 | 18,026 | |||
* | Amedisys Inc. | 243,054 | 17,877 | |||
* | Hims & Hers Health Inc. | 1,792,787 | 17,784 | |||
* | Kymera Therapeutics Inc. | 579,438 | 17,169 | |||
* | Adaptive Biotechnologies Corp. | 1,933,990 | 17,077 | |||
* | Harmony Biosciences Holdings Inc. | 490,971 | 16,030 | |||
* | Treace Medical Concepts Inc. | 632,719 | 15,938 |
Shares | Market Value ($000) | |||||
* | PROCEPT BioRobotics Corp. | 536,786 | 15,245 | |||
* | Mirati Therapeutics Inc. | 388,993 | 14,463 | |||
* | Supernus Pharmaceuticals Inc. | 385,594 | 13,970 | |||
* | AdaptHealth Corp. Class A | 1,111,647 | 13,818 | |||
* | Outset Medical Inc. | 730,358 | 13,439 | |||
* | Warby Parker Inc. Class A | 1,212,999 | 12,846 | |||
* | Twist Bioscience Corp. | 811,823 | 12,242 | |||
* | Phreesia Inc. | 372,539 | 12,029 | |||
* | BioCryst Pharmaceuticals Inc. | 1,402,224 | 11,695 | |||
* | Cytek Biosciences Inc. | 1,203,105 | 11,057 | |||
* | REGENXBIO Inc. | 579,509 | 10,958 | |||
* | Zentalis Pharmaceuticals Inc. | 636,521 | 10,948 | |||
* | Recursion Pharmaceuticals Inc. Class A | 1,621,472 | 10,815 | |||
* | EQRx Inc. | 5,453,495 | 10,580 | |||
* | HealthStream Inc. | 363,638 | 9,855 | |||
* | Agios Pharmaceuticals Inc. | 411,110 | 9,443 | |||
* | Theravance Biopharma Inc. | 851,375 | 9,237 | |||
* | Health Catalyst Inc. | 773,509 | 9,027 | |||
*,1 | Novavax Inc. | 1,264,080 | 8,760 | |||
*,1 | Verve Therapeutics Inc. | 595,501 | 8,587 | |||
*,1 | LifeStance Health Group Inc. | 1,132,597 | 8,415 | |||
* | Alignment Healthcare Inc. | 1,253,021 | 7,969 | |||
* | Agiliti Inc. | 495,718 | 7,922 | |||
* | American Well Corp. Class A | 3,275,250 | 7,730 | |||
* | Rocket Pharmaceuticals Inc. | 439,070 | 7,521 | |||
* | Editas Medicine Inc. Class A | 1,026,213 | 7,440 | |||
* | Accolade Inc. | 489,623 | 7,041 | |||
* | Fate Therapeutics Inc. | 1,228,760 | 7,004 | |||
* | CareDx Inc. | 756,267 | 6,912 | |||
* | GoodRx Holdings Inc. Class A | 1,060,329 | 6,627 | |||
* | Arcus Biosciences Inc. | 349,987 | 6,384 | |||
* | AnaptysBio Inc. | 274,791 | 5,979 | |||
* | Alector Inc. | 922,512 | 5,710 | |||
*,1 | Allogene Therapeutics Inc. | 1,072,399 | 5,298 | |||
* | Innoviva Inc. | 465,489 | 5,237 | |||
*,1 | Lyell Immunopharma Inc. | 2,059,609 | 4,861 | |||
*,1 | Sana Biotechnology Inc. | 1,443,390 | 4,720 | |||
* | OPKO Health Inc. | 3,177,772 | 4,640 | |||
* | Clover Health Investments Corp. Class A | 5,235,942 | 4,425 | |||
*,1 | ProKidney Corp. Class A | 390,135 | 4,416 | |||
* | Cullinan Oncology Inc. | 379,834 | 3,886 | |||
*,1 | Butterfly Network Inc. | 1,966,885 | 3,698 | |||
* | Pulmonx Corp. | 253,904 | 2,839 | |||
* | Erasca Inc. | 920,475 | 2,771 | |||
* | Innovage Holding Corp. | 306,119 | 2,443 | |||
*,1 | Invitae Corp. | 1,800,442 | 2,431 | |||
*,1 | Cano Health Inc. | 2,577,922 | 2,346 | |||
*,1 | ImmunityBio Inc. | 1,205,754 | 2,194 | |||
* | Inogen Inc. | 161,472 | 2,015 | |||
* | Sangamo Therapeutics Inc. | 1,049,733 | 1,847 | |||
*,1 | Prime Medicine Inc. | 142,609 | 1,754 | |||
* | Nektar Therapeutics Class A | 1,395,032 | 981 | |||
*,1 | Design Therapeutics Inc. | 103,915 | 600 | |||
* | Gossamer Bio Inc. | 384,720 | 485 | |||
*,1 | P3 Health Partners Inc. | 171,598 | 182 | |||
*,2 | OmniAb Inc. 12.5 Earnout | 45,320 | — | |||
*,2 | OmniAb Inc. 15 Earnout | 45,320 | — | |||
5,597,858 |
Shares | Market Value ($000) | |||||
Industrials (19.2%) | ||||||
* | Fair Isaac Corp. | 356,865 | 250,765 | |||
* | Axon Enterprise Inc. | 956,814 | 215,140 | |||
Graco Inc. | 2,505,255 | 182,909 | ||||
Toro Co. | 1,562,647 | 173,704 | ||||
Nordson Corp. | 769,754 | 171,085 | ||||
Watsco Inc. | 496,953 | 158,111 | ||||
* | WillScot Mobile Mini Holdings Corp. | 3,072,804 | 144,053 | |||
A O Smith Corp. | 1,866,600 | 129,075 | ||||
Genpact Ltd. | 2,730,510 | 126,204 | ||||
* | Paylocity Holding Corp. | 625,134 | 124,264 | |||
Cognex Corp. | 2,449,830 | 121,389 | ||||
Lennox International Inc. | 476,888 | 119,832 | ||||
* | WEX Inc. | 651,469 | 119,799 | |||
* | Saia Inc. | 396,492 | 107,878 | |||
Curtiss-Wright Corp. | 571,700 | 100,768 | ||||
* | Generac Holdings Inc. | 925,400 | 99,952 | |||
Littelfuse Inc. | 370,135 | 99,229 | ||||
* | TopBuild Corp. | 473,242 | 98,501 | |||
Landstar System Inc. | 536,916 | 96,248 | ||||
Advanced Drainage Systems Inc. | 1,092,629 | 92,010 | ||||
* | GXO Logistics Inc. | 1,775,476 | 89,590 | |||
BWX Technologies Inc. | 1,363,944 | 85,983 | ||||
Jack Henry & Associates Inc. | 545,168 | 82,168 | ||||
* | Trex Co. Inc. | 1,640,710 | 79,853 | |||
* | Chart Industries Inc. | 636,257 | 79,787 | |||
* | Euronet Worldwide Inc. | 707,574 | 79,178 | |||
Eagle Materials Inc. | 538,646 | 79,046 | ||||
* | ExlService Holdings Inc. | 472,768 | 76,508 | |||
* | ATI Inc. | 1,934,184 | 76,323 | |||
Exponent Inc. | 756,827 | 75,448 | ||||
Maximus Inc. | 908,117 | 71,469 | ||||
Simpson Manufacturing Co. Inc. | 636,812 | 69,820 | ||||
Insperity Inc. | 537,686 | 65,356 | ||||
* | Aerojet Rocketdyne Holdings Inc. | 1,145,387 | 64,336 | |||
AAON Inc. | 634,864 | 61,385 | ||||
* | Shift4 Payments Inc. Class A | 751,407 | 56,957 | |||
Franklin Electric Co. Inc. | 585,692 | 55,114 | ||||
* | Middleby Corp. | 373,981 | 54,829 | |||
Badger Meter Inc. | 437,147 | 53,253 | ||||
John Bean Technologies Corp. | 474,780 | 51,889 | ||||
* | Bloom Energy Corp. Class A | 2,556,892 | 50,959 | |||
* | AMN Healthcare Services Inc. | 612,694 | 50,829 | |||
Federal Signal Corp. | 905,814 | 49,104 | ||||
Armstrong World Industries Inc. | 677,999 | 48,301 | ||||
* | ACI Worldwide Inc. | 1,676,620 | 45,235 | |||
Herc Holdings Inc. | 391,274 | 44,566 | ||||
Woodward Inc. | 445,584 | 43,386 | ||||
* | TriNet Group Inc. | 536,933 | 43,282 | |||
Forward Air Corp. | 396,917 | 42,772 | ||||
* | AZEK Co. Inc. Class A | 1,800,032 | 42,373 | |||
* | Mercury Systems Inc. | 823,961 | 42,121 | |||
Comfort Systems USA Inc. | 266,725 | 38,931 | ||||
* | Flywire Corp. | 1,324,287 | 38,881 | |||
Installed Building Products Inc. | 338,070 | 38,550 | ||||
* | Verra Mobility Corp. Class A | 2,236,347 | 37,839 | |||
* | Itron Inc. | 674,397 | 37,395 | |||
FTAI Aviation Ltd. | 1,267,581 | 35,442 |
Shares | Market Value ($000) | |||||
*,1 | Affirm Holdings Inc. Class A | 2,971,143 | 33,485 | |||
* | Marqeta Inc. Class A | 7,323,553 | 33,469 | |||
* | AeroVironment Inc. | 356,924 | 32,716 | |||
Mueller Water Products Inc. Class A | 2,334,420 | 32,542 | ||||
Helios Technologies Inc. | 486,268 | 31,802 | ||||
* | Masonite International Corp. | 331,026 | 30,047 | |||
* | ASGN Inc. | 353,708 | 29,241 | |||
*,1 | Enovix Corp. | 1,759,213 | 26,230 | |||
* | Remitly Global Inc. | 1,531,873 | 25,965 | |||
* | Kratos Defense & Security Solutions Inc. | 1,894,578 | 25,539 | |||
Lindsay Corp. | 164,668 | 24,886 | ||||
* | Core & Main Inc. Class A | 1,031,844 | 23,836 | |||
* | Payoneer Global Inc. | 3,667,474 | 23,032 | |||
* | Air Transport Services Group Inc. | 1,088,193 | 22,667 | |||
* | Hayward Holdings Inc. | 1,750,786 | 20,519 | |||
* | Dycom Industries Inc. | 210,236 | 19,689 | |||
Tennant Co. | 277,585 | 19,023 | ||||
* | Vicor Corp. | 336,251 | 15,784 | |||
* | Legalzoom.com Inc. | 1,432,475 | 13,437 | |||
*,1 | Virgin Galactic Holdings Inc. | 3,062,487 | 12,403 | |||
* | Gibraltar Industries Inc. | 228,874 | 11,100 | |||
*,1 | PureCycle Technologies Inc. | 1,580,671 | 11,065 | |||
Enerpac Tool Group Corp. Class A | 423,706 | 10,804 | ||||
* | Cimpress plc | 234,161 | 10,261 | |||
* | Janus International Group Inc. | 981,087 | 9,673 | |||
* | CryoPort Inc. | 346,120 | 8,307 | |||
*,1 | Desktop Metal Inc. Class A | 3,552,728 | 8,171 | |||
*,1 | Nikola Corp. | 6,579,388 | 7,961 | |||
* | Aurora Innovation Inc. | 5,687,107 | 7,905 | |||
* | FARO Technologies Inc. | 279,348 | 6,875 | |||
* | TaskUS Inc. Class A | 389,101 | 5,619 | |||
* | Forrester Research Inc. | 173,182 | 5,602 | |||
* | Leonardo DRS Inc. | 375,812 | 4,874 | |||
Gorman-Rupp Co. | 165,231 | 4,131 | ||||
* | Hyliion Holdings Corp. | 2,048,742 | 4,056 | |||
* | Sterling Check Corp. | 288,369 | 3,215 | |||
*,1 | Symbotic Inc. Class A | 106,156 | 2,425 | |||
* | Paymentus Holdings Inc. Class A | 237,826 | 2,107 | |||
* | Ranpak Holdings Corp. Class A | 316,705 | 1,653 | |||
* | TuSimple Holdings Inc. Class A | 1,048,112 | 1,541 | |||
* | Global Business Travel Group I | 203,942 | 1,352 | |||
* | CS Disco Inc. | 175,635 | 1,166 | |||
5,495,349 | ||||||
Real Estate (6.0%) | ||||||
Equity LifeStyle Properties Inc. | 2,501,880 | 167,951 | ||||
Rexford Industrial Realty Inc. | 2,768,134 | 165,119 | ||||
CubeSmart | 3,355,166 | 155,076 | ||||
American Homes 4 Rent Class A | 4,217,263 | 132,633 | ||||
Americold Realty Trust Inc. | 4,030,536 | 114,669 | ||||
Healthcare Realty Trust Inc. Class A | 5,686,684 | 109,924 | ||||
Host Hotels & Resorts Inc. | 5,330,973 | 87,908 | ||||
Spirit Realty Capital Inc. | 2,087,151 | 83,152 | ||||
Terreno Realty Corp. | 1,225,050 | 79,138 | ||||
Ryman Hospitality Properties Inc. | 783,467 | 70,301 | ||||
Kite Realty Group Trust | 3,270,957 | 68,428 | ||||
Lamar Advertising Co. Class A | 652,202 | 65,148 | ||||
Essential Properties Realty Trust Inc. | 2,285,666 | 56,799 | ||||
National Storage Affiliates Trust | 1,288,665 | 53,840 |
Shares | Market Value ($000) | |||||
Independence Realty Trust Inc. | 3,349,175 | 53,687 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,358,167 | 38,844 | ||||
Innovative Industrial Properties Inc. | 417,575 | 31,732 | ||||
Phillips Edison & Co. Inc. | 876,464 | 28,590 | ||||
Kilroy Realty Corp. | 875,278 | 28,359 | ||||
RLJ Lodging Trust | 2,302,688 | 24,408 | ||||
St. Joe Co. | 480,454 | 19,992 | ||||
1 | eXp World Holdings Inc. | 1,135,566 | 14,410 | |||
* | Redfin Corp. | 1,550,470 | 14,047 | |||
* | Opendoor Technologies Inc. | 7,719,423 | 13,586 | |||
Paramount Group Inc. | 2,744,714 | 12,516 | ||||
Marcus & Millichap Inc. | 379,462 | 12,185 | ||||
Universal Health Realty Income Trust | 184,644 | 8,883 | ||||
Uniti Group Inc. | 1,757,924 | 6,241 | ||||
Alexander's Inc. | 15,183 | 2,942 | ||||
* | WeWork Inc. | 2,133,162 | 1,658 | |||
1,722,166 | ||||||
Technology (20.2%) | ||||||
* | PTC Inc. | 1,589,294 | 203,795 | |||
* | Lattice Semiconductor Corp. | 2,051,999 | 195,966 | |||
Entegris Inc. | 2,232,363 | 183,076 | ||||
* | Ceridian HCM Holding Inc. | 2,184,459 | 159,946 | |||
* | Manhattan Associates Inc. | 933,397 | 144,537 | |||
* | Dynatrace Inc. | 3,239,005 | 137,010 | |||
* | Wolfspeed Inc. | 1,759,387 | 114,272 | |||
* | Pure Storage Inc. Class A | 4,295,775 | 109,585 | |||
National Instruments Corp. | 1,964,445 | 102,957 | ||||
* | Guidewire Software Inc. | 1,223,673 | 100,402 | |||
* | Aspen Technology Inc. | 435,130 | 99,588 | |||
Universal Display Corp. | 635,455 | 98,578 | ||||
* | Nutanix Inc. Class A | 3,438,639 | 89,370 | |||
* | Smartsheet Inc. Class A | 1,865,055 | 89,150 | |||
* | Dropbox Inc. Class A | 3,918,477 | 84,718 | |||
* | SPS Commerce Inc. | 542,604 | 82,639 | |||
* | Novanta Inc. | 506,908 | 80,644 | |||
* | Tenable Holdings Inc. | 1,689,923 | 80,288 | |||
* | Silicon Laboratories Inc. | 452,964 | 79,309 | |||
Dolby Laboratories Inc. Class A | 892,295 | 76,220 | ||||
* | Five9 Inc. | 1,054,253 | 76,212 | |||
Power Integrations Inc. | 851,824 | 72,098 | ||||
* | Workiva Inc. Class A | 698,870 | 71,571 | |||
* | Procore Technologies Inc. | 1,135,102 | 71,091 | |||
* | Coherent Corp. | 1,762,950 | 67,133 | |||
* | Fabrinet | 547,439 | 65,014 | |||
* | Onto Innovation Inc. | 738,848 | 64,930 | |||
* | Qualys Inc. | 498,032 | 64,754 | |||
Vertiv Holdings Co. Class A | 4,504,268 | 64,456 | ||||
* | Elastic NV | 1,101,434 | 63,773 | |||
* | New Relic Inc. | 824,145 | 62,050 | |||
* | Diodes Inc. | 644,705 | 59,803 | |||
* | Allegro MicroSystems Inc. | 1,175,250 | 56,400 | |||
* | Altair Engineering Inc. Class A | 781,691 | 56,368 | |||
* | MACOM Technology Solutions Holdings Inc. | 793,320 | 56,199 | |||
Advanced Energy Industries Inc. | 559,223 | 54,804 | ||||
* | Box Inc. Class A | 2,025,421 | 54,261 | |||
* | Blackline Inc. | 806,361 | 54,147 | |||
* | IPG Photonics Corp. | 430,926 | 53,138 | |||
* | Alteryx Inc. Class A | 873,810 | 51,415 |
Shares | Market Value ($000) | |||||
* | SentinelOne Inc. Class A | 3,047,670 | 49,860 | |||
* | Envestnet Inc. | 825,386 | 48,425 | |||
* | DoubleVerify Holdings Inc. | 1,605,427 | 48,404 | |||
*,1 | C3.ai Inc. Class A | 1,437,343 | 48,252 | |||
* | Rogers Corp. | 280,758 | 45,884 | |||
* | Impinj Inc. | 332,288 | 45,032 | |||
* | Confluent Inc. Class A | 1,835,647 | 44,184 | |||
* | Ambarella Inc. | 549,506 | 42,543 | |||
* | PagerDuty Inc. | 1,208,683 | 42,280 | |||
* | Toast Inc. Class A | 2,371,049 | 42,086 | |||
*,1 | MicroStrategy Inc. Class A | 143,168 | 41,851 | |||
* | Sprout Social Inc. Class A | 675,757 | 41,140 | |||
* | UiPath Inc. Class A | 2,281,291 | 40,059 | |||
* | Varonis Systems Inc. Class B | 1,525,722 | 39,684 | |||
* | Gitlab Inc. Class A | 1,156,756 | 39,665 | |||
* | RingCentral Inc. Class A | 1,276,977 | 39,165 | |||
* | Rapid7 Inc. | 840,312 | 38,579 | |||
* | AppLovin Corp. Class A | 2,410,268 | 37,962 | |||
* | CommVault Systems Inc. | 664,971 | 37,730 | |||
* | Perficient Inc. | 516,891 | 37,314 | |||
* | MaxLinear Inc. Class A | 1,057,980 | 37,252 | |||
*,1 | DigitalOcean Holdings Inc. | 941,151 | 36,865 | |||
* | FormFactor Inc. | 1,150,009 | 36,628 | |||
* | Freshworks Inc. Class A | 2,355,847 | 36,186 | |||
* | Alarm.com Holdings Inc. | 707,768 | 35,587 | |||
* | Appfolio Inc. Class A | 277,510 | 34,544 | |||
* | Samsara Inc. Class A | 1,694,603 | 33,418 | |||
* | Axcelis Technologies Inc. | 244,476 | 32,576 | |||
* | SiTime Corp. | 224,200 | 31,888 | |||
Clear Secure Inc. Class A | 1,215,029 | 31,797 | ||||
* | Yelp Inc. Class A | 989,390 | 30,374 | |||
Pegasystems Inc. | 616,057 | 29,866 | ||||
* | Qualtrics International Inc. Class A | 1,657,495 | 29,553 | |||
* | Fastly Inc. Class A | 1,654,879 | 29,391 | |||
* | HashiCorp Inc. Class A | 979,531 | 28,690 | |||
* | Bumble Inc. Class A | 1,458,429 | 28,512 | |||
* | Blackbaud Inc. | 396,895 | 27,505 | |||
* | Appian Corp. Class A | 618,144 | 27,433 | |||
* | Cargurus Inc. Class A | 1,461,775 | 27,306 | |||
Shutterstock Inc. | 348,406 | 25,294 | ||||
* | nCino Inc. | 996,374 | 24,690 | |||
* | Paycor HCM Inc. | 923,988 | 24,504 | |||
* | Asana Inc. Class A | 1,142,298 | 24,137 | |||
* | Semtech Corp. | 953,986 | 23,029 | |||
* | Zeta Global Holdings Corp. Class A | 1,968,384 | 21,318 | |||
* | Squarespace Inc. Class A | 662,709 | 21,054 | |||
* | Schrodinger Inc. | 789,884 | 20,798 | |||
* | Everbridge Inc. | 597,765 | 20,725 | |||
* | Q2 Holdings Inc. | 821,584 | 20,227 | |||
* | Upwork Inc. | 1,786,578 | 20,224 | |||
* | LiveRamp Holdings Inc. | 920,439 | 20,185 | |||
* | 3D Systems Corp. | 1,866,654 | 20,011 | |||
* | Jamf Holding Corp. | 999,592 | 19,412 | |||
* | JFrog Ltd. | 983,873 | 19,382 | |||
* | Sprinklr Inc. Class A | 1,488,414 | 19,290 | |||
* | Braze Inc. Class A | 556,407 | 19,235 | |||
* | Sumo Logic Inc. | 1,558,802 | 18,674 | |||
* | Zuora Inc. Class A | 1,883,792 | 18,612 |
Shares | Market Value ($000) | |||||
* | Magnite Inc. | 1,923,020 | 17,807 | |||
* | Momentive Global Inc. | 1,907,256 | 17,776 | |||
* | Digital Turbine Inc. | 1,413,528 | 17,471 | |||
* | PROS Holdings Inc. | 619,312 | 16,969 | |||
* | Veeco Instruments Inc. | 774,835 | 16,372 | |||
* | Yext Inc. | 1,452,393 | 13,958 | |||
*,1 | IonQ Inc. | 2,230,325 | 13,717 | |||
* | ForgeRock Inc. Class A | 645,287 | 13,293 | |||
* | Olo Inc. Class A | 1,484,204 | 12,111 | |||
* | Credo Technology Group Holding Ltd. | 1,200,241 | 11,306 | |||
* | Vertex Inc. Class A | 543,566 | 11,246 | |||
* | Planet Labs PBC | 2,798,961 | 11,000 | |||
* | Intapp Inc. | 236,960 | 10,625 | |||
* | Eventbrite Inc. Class A | 1,205,261 | 10,341 | |||
* | Thoughtworks Holding Inc. | 1,404,296 | 10,336 | |||
* | CEVA Inc. | 327,633 | 9,970 | |||
* | EngageSmart Inc. | 494,116 | 9,512 | |||
* | E2open Parent Holdings Inc. | 1,594,442 | 9,280 | |||
* | Amplitude Inc. Class A | 739,718 | 9,202 | |||
* | Cvent Holding Corp. Class A | 1,088,311 | 9,098 | |||
* | Consensus Cloud Solutions Inc. | 265,347 | 9,046 | |||
* | Xometry Inc. Class A | 599,087 | 8,968 | |||
* | NerdWallet Inc. Class A | 525,388 | 8,501 | |||
* | PubMatic Inc. Class A | 610,261 | 8,434 | |||
* | BigCommerce Holdings Inc. | 876,662 | 7,837 | |||
* | Vimeo Inc. | 1,985,788 | 7,606 | |||
* | Alkami Technology Inc. | 544,040 | 6,888 | |||
* | nLight Inc. | 640,398 | 6,519 | |||
* | N-able Inc. | 467,432 | 6,170 | |||
* | SmartRent Inc. Class A | 2,213,017 | 5,643 | |||
* | MediaAlpha Inc. Class A | 352,703 | 5,284 | |||
* | Matterport Inc. | 1,839,895 | 5,023 | |||
* | Definitive Healthcare Corp. Class A | 468,740 | 4,842 | |||
* | LivePerson Inc. | 1,064,210 | 4,693 | |||
*,1 | EverCommerce Inc. | 434,347 | 4,595 | |||
* | AvePoint Inc. | 1,030,424 | 4,245 | |||
*,1 | MeridianLink Inc. | 242,666 | 4,198 | |||
* | Enfusion Inc. Class A | 256,284 | 2,691 | |||
* | Bandwidth Inc. Class A | 147,943 | 2,249 | |||
*,1 | Rumble Inc. | 209,661 | 2,097 | |||
* | SEMrush Holdings Inc. Class A | 193,826 | 1,948 | |||
* | Nextdoor Holdings Inc. | 834,655 | 1,795 | |||
* | SecureWorks Corp. Class A | 124,874 | 1,070 | |||
5,779,670 | ||||||
Telecommunications (1.9%) | ||||||
* | Ciena Corp. | 2,228,339 | 117,032 | |||
Iridium Communications Inc. | 1,694,179 | 104,920 | ||||
Cable One Inc. | 86,712 | 60,872 | ||||
* | Lumentum Holdings Inc. | 971,215 | 52,455 | |||
* | Calix Inc. | 838,862 | 44,955 | |||
Cogent Communications Holdings Inc. | 645,387 | 41,124 | ||||
* | Viasat Inc. | 1,082,875 | 36,644 | |||
*,1 | Infinera Corp. | 2,804,019 | 21,759 | |||
ADTRAN Holdings Inc. | 1,047,879 | 16,619 | ||||
InterDigital Inc. | 221,314 | 16,134 | ||||
* | Globalstar Inc. | 10,714,328 | 12,429 | |||
* | WideOpenWest Inc. | 771,158 | 8,197 | |||
* | Gogo Inc. | 471,576 | 6,838 |
Shares | Market Value ($000) | |||||
ATN International Inc. | 164,138 | 6,717 | ||||
* | 8x8 Inc. | 1,597,091 | 6,660 | |||
*,1 | fuboTV Inc. | 689,677 | 835 | |||
554,190 | ||||||
Utilities (1.5%) | ||||||
* | Clean Harbors Inc. | 767,210 | 109,374 | |||
* | Evoqua Water Technologies Corp. | 1,826,667 | 90,822 | |||
Ormat Technologies Inc. | 764,283 | 64,788 | ||||
* | Casella Waste Systems Inc. Class A | 756,554 | 62,537 | |||
* | Sunrun Inc. | 3,039,496 | 61,246 | |||
California Water Service Group | 407,515 | 23,717 | ||||
*,1 | Sunnova Energy International Inc. | 1,452,841 | 22,693 | |||
*,1 | NuScale Power Corp. | 292,877 | 2,662 | |||
437,839 | ||||||
Total Common Stocks (Cost $26,332,263) | 28,565,064 | |||||
Coupon | ||||||
Temporary Cash Investments (2.5%) | ||||||
Money Market Fund (2.5%) | ||||||
3,4 | Vanguard Market Liquidity Fund (Cost $727,916) | 4.839% | 7,281,505 | 728,078 | ||
Total Investments (102.3%) (Cost $27,060,179) | 29,293,142 | |||||
Other Assets and Liabilities—Net (-2.3%) | (657,758) | |||||
Net Assets (100%) | 28,635,384 |
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 $635,193,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
4 | Collateral of $662,383,000 was received for securities on loan, of which $662,040,000 is held in Vanguard Market Liquidity Fund and $343,000 is held in cash. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | June 2023 | 515 | 46,698 | 1,387 |
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) |
Elastic NV | 8/31/23 | BANA | 2,361 | (4.661) | — | (54) |
Fisker Inc. Class A | 1/31/24 | GSI | 4,896 | (4.778) | 6 | — |
Middleby Corp. | 8/31/23 | BANA | 4,354 | (4.661) | — | (265) |
Novocure Ltd. | 8/31/23 | BANA | 13,855 | (4.661) | — | (3,083) |
Wolfspeed Inc. | 8/31/23 | BANA | 7,398 | (4.661) | — | (932) |
6 | (4,334) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.
A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily
to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund's investments and derivatives as of March 31, 2023, based on the inputs used to value them:
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 28,565,064 | — | — | 28,565,064 |
Temporary Cash Investments | 728,078 | — | — | 728,078 |
Total | 29,293,142 | — | — | 29,293,142 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 1,387 | — | — | 1,387 |
Swap Contracts | — | 6 | — | 6 |
Total | 1,387 | 6 | — | 1,393 |
Liabilities | ||||
Swap Contracts | — | 4,334 | — | 4,334 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |