Vanguard® Large-Cap 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 (99.9%) | |||
Basic Materials (1.9%) | |||
Linde plc | 535,870 | 190,470 | |
Air Products and Chemicals Inc. | 241,736 | 69,429 | |
Freeport-McMoRan Inc. | 1,557,165 | 63,704 | |
Ecolab Inc. | 279,080 | 46,196 | |
Nucor Corp. | 279,426 | 43,163 | |
Newmont Corp. | 864,640 | 42,385 | |
Dow Inc. | 766,543 | 42,022 | |
Fastenal Co. | 620,987 | 33,496 | |
Albemarle Corp. | 127,657 | 28,217 | |
LyondellBasell Industries NV Class A | 283,954 | 26,660 | |
International Flavors & Fragrances Inc. | 278,006 | 25,565 | |
Mosaic Co. | 365,980 | 16,791 | |
FMC Corp. | 137,434 | 16,785 | |
Avery Dennison Corp. | 88,309 | 15,801 | |
CF Industries Holdings Inc. | 212,937 | 15,436 | |
International Paper Co. | 379,800 | 13,695 | |
Celanese Corp. Class A | 106,513 | 11,598 | |
Eastman Chemical Co. | 128,525 | 10,840 | |
Steel Dynamics Inc. | 90,579 | 10,241 | |
Westlake Corp. | 17,614 | 2,043 | |
724,537 | |||
Consumer Discretionary (14.0%) | |||
* | Amazon.com Inc. | 9,482,349 | 979,432 |
* | Tesla Inc. | 2,927,924 | 607,427 |
Home Depot Inc. | 1,109,505 | 327,437 | |
Costco Wholesale Corp. | 483,075 | 240,025 | |
McDonald's Corp. | 797,386 | 222,957 | |
Walmart Inc. | 1,468,153 | 216,479 | |
* | Walt Disney Co. | 1,988,236 | 199,082 |
* | Netflix Inc. | 484,750 | 167,471 |
NIKE Inc. Class B | 1,355,878 | 166,285 | |
Lowe's Cos. Inc. | 658,300 | 131,640 | |
Starbucks Corp. | 1,251,083 | 130,275 | |
* | Booking Holdings Inc. | 40,979 | 108,693 |
TJX Cos. Inc. | 1,194,954 | 93,637 | |
Target Corp. | 501,143 | 83,004 | |
* | Uber Technologies Inc. | 2,078,398 | 65,885 |
Activision Blizzard Inc. | 768,607 | 65,785 | |
* | O'Reilly Automotive Inc. | 67,865 | 57,616 |
Estee Lauder Cos. Inc. Class A | 226,887 | 55,919 | |
Ford Motor Co. | 4,261,557 | 53,696 | |
General Motors Co. | 1,442,240 | 52,901 |
Shares | Market Value ($000) | ||
* | Chipotle Mexican Grill Inc. Class A | 30,058 | 51,348 |
Dollar General Corp. | 243,365 | 51,219 | |
* | AutoZone Inc. | 20,435 | 50,232 |
Marriott International Inc. Class A | 301,714 | 50,097 | |
* | Airbnb Inc. Class A | 400,506 | 49,823 |
* | Lululemon Athletica Inc. | 133,193 | 48,508 |
Hilton Worldwide Holdings Inc. | 289,774 | 40,820 | |
Yum! Brands Inc. | 304,680 | 40,242 | |
Ross Stores Inc. | 374,749 | 39,772 | |
Electronic Arts Inc. | 298,540 | 35,959 | |
* | Warner Bros Discovery Inc. | 2,380,907 | 35,952 |
* | Copart Inc. | 467,001 | 35,123 |
* | Aptiv plc | 295,238 | 33,123 |
* | Dollar Tree Inc. | 228,918 | 32,861 |
DR Horton Inc. | 335,791 | 32,803 | |
* | Ulta Beauty Inc. | 55,363 | 30,210 |
* | Trade Desk Inc. Class A | 485,630 | 29,580 |
Lennar Corp. Class A | 277,711 | 29,190 | |
Tractor Supply Co. | 119,707 | 28,136 | |
eBay Inc. | 583,950 | 25,910 | |
Genuine Parts Co. | 153,124 | 25,619 | |
* | Delta Air Lines Inc. | 696,229 | 24,312 |
* | Take-Two Interactive Software Inc. | 183,526 | 21,895 |
* | Las Vegas Sands Corp. | 375,103 | 21,550 |
Southwest Airlines Co. | 647,330 | 21,064 | |
Omnicom Group Inc. | 219,922 | 20,747 | |
Darden Restaurants Inc. | 132,284 | 20,525 | |
* | NVR Inc. | 3,343 | 18,628 |
* | Roblox Corp. Class A | 391,316 | 17,601 |
Best Buy Co. Inc. | 217,561 | 17,029 | |
Garmin Ltd. | 167,226 | 16,876 | |
LKQ Corp. | 289,790 | 16,449 | |
* | United Airlines Holdings Inc. | 356,005 | 15,753 |
* | Expedia Group Inc. | 160,677 | 15,591 |
* | Royal Caribbean Cruises Ltd. | 236,333 | 15,433 |
* | Etsy Inc. | 135,468 | 15,082 |
MGM Resorts International | 331,489 | 14,725 | |
* | Burlington Stores Inc. | 71,115 | 14,372 |
PulteGroup Inc. | 244,130 | 14,228 | |
Domino's Pizza Inc. | 38,647 | 12,749 | |
BorgWarner Inc. (XNYS) | 255,622 | 12,554 | |
* | Live Nation Entertainment Inc. | 176,361 | 12,345 |
1 | Paramount Global Class B | 534,580 | 11,926 |
* | Rivian Automotive Inc. Class A | 744,627 | 11,527 |
Fox Corp. Class A | 329,089 | 11,206 | |
*,1 | Carnival Corp. | 1,093,495 | 11,099 |
* | CarMax Inc. | 172,495 | 11,088 |
* | Caesars Entertainment Inc. | 222,697 | 10,870 |
Rollins Inc. | 267,589 | 10,043 | |
VF Corp. | 381,918 | 8,750 | |
Advance Auto Parts Inc. | 64,748 | 7,874 | |
Interpublic Group of Cos. Inc. | 207,312 | 7,720 | |
Pool Corp. | 20,292 | 6,949 | |
News Corp. Class A | 399,184 | 6,894 | |
*,1 | Lucid Group Inc. | 692,708 | 5,569 |
* | American Airlines Group Inc. | 356,326 | 5,256 |
Vail Resorts Inc. | 22,065 | 5,156 | |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 167,775 | 4,696 |
Shares | Market Value ($000) | ||
Fox Corp. Class B | 145,047 | 4,541 | |
Lear Corp. | 32,323 | 4,509 | |
Bath & Body Works Inc. | 119,146 | 4,358 | |
Warner Music Group Corp. Class A | 128,205 | 4,278 | |
Hasbro Inc. | 70,806 | 3,802 | |
*,1 | Chewy Inc. Class A | 97,989 | 3,663 |
* | Endeavor Group Holdings Inc. Class A | 143,194 | 3,427 |
1 | Sirius XM Holdings Inc. | 646,625 | 2,567 |
News Corp. Class B | 142,991 | 2,492 | |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 79,777 | 2,241 |
Lennar Corp. Class B | 16,128 | 1,440 | |
1 | Paramount Global Class A | 6,125 | 158 |
5,355,780 | |||
Consumer Staples (5.8%) | |||
Procter & Gamble Co. | 2,568,571 | 381,921 | |
PepsiCo Inc. | 1,499,543 | 273,367 | |
Coca-Cola Co. | 4,239,544 | 262,979 | |
Philip Morris International Inc. | 1,687,383 | 164,098 | |
CVS Health Corp. | 1,397,858 | 103,875 | |
Mondelez International Inc. Class A | 1,483,991 | 103,464 | |
Altria Group Inc. | 1,942,761 | 86,686 | |
Colgate-Palmolive Co. | 903,450 | 67,894 | |
General Mills Inc. | 641,733 | 54,843 | |
McKesson Corp. | 149,083 | 53,081 | |
Kimberly-Clark Corp. | 367,536 | 49,331 | |
Archer-Daniels-Midland Co. | 596,435 | 47,512 | |
Corteva Inc. | 776,409 | 46,825 | |
* | Monster Beverage Corp. | 795,590 | 42,970 |
Sysco Corp. | 552,217 | 42,648 | |
Hershey Co. | 160,090 | 40,728 | |
Constellation Brands Inc. Class A | 170,765 | 38,574 | |
Kroger Co. | 701,823 | 34,649 | |
Kraft Heinz Co. | 867,185 | 33,534 | |
Keurig Dr Pepper Inc. | 917,525 | 32,370 | |
AmerisourceBergen Corp. Class A | 187,014 | 29,943 | |
Walgreens Boots Alliance Inc. | 797,210 | 27,568 | |
Church & Dwight Co. Inc. | 265,776 | 23,497 | |
McCormick & Co. Inc. | 273,179 | 22,731 | |
Brown-Forman Corp. Class B | 337,922 | 21,718 | |
Clorox Co. | 134,480 | 21,280 | |
Conagra Brands Inc. | 517,709 | 19,445 | |
Kellogg Co. | 279,063 | 18,686 | |
Tyson Foods Inc. Class A | 310,385 | 18,412 | |
J M Smucker Co. | 110,487 | 17,387 | |
Hormel Foods Corp. | 297,709 | 11,873 | |
Campbell Soup Co. | 212,612 | 11,689 | |
Lamb Weston Holdings Inc. | 78,815 | 8,238 | |
Molson Coors Beverage Co. Class B | 98,954 | 5,114 | |
Brown-Forman Corp. Class A | 55,359 | 3,609 | |
Albertsons Cos. Inc. Class A | 144,825 | 3,009 | |
2,225,548 | |||
Energy (4.6%) | |||
Exxon Mobil Corp. | 4,432,194 | 486,034 | |
Chevron Corp. | 1,868,268 | 304,827 | |
ConocoPhillips | 1,326,800 | 131,632 | |
Schlumberger NV | 1,554,353 | 76,319 | |
EOG Resources Inc. | 639,711 | 73,330 |
Shares | Market Value ($000) | ||
Marathon Petroleum Corp. | 485,011 | 65,394 | |
Valero Energy Corp. | 403,998 | 56,398 | |
Phillips 66 | 504,960 | 51,193 | |
Pioneer Natural Resources Co. | 242,947 | 49,619 | |
Occidental Petroleum Corp. | 692,563 | 43,237 | |
Cheniere Energy Inc. | 265,245 | 41,803 | |
Hess Corp. | 302,243 | 39,999 | |
Williams Cos. Inc. | 1,327,358 | 39,635 | |
Kinder Morgan Inc. | 2,081,289 | 36,443 | |
Devon Energy Corp. | 711,885 | 36,029 | |
Baker Hughes Co. Class A | 1,100,832 | 31,770 | |
* | Enphase Energy Inc. | 148,581 | 31,244 |
ONEOK Inc. | 486,886 | 30,937 | |
Halliburton Co. | 885,596 | 28,020 | |
Diamondback Energy Inc. | 199,632 | 26,984 | |
Coterra Energy Inc. | 816,522 | 20,037 | |
Marathon Oil Corp. | 683,926 | 16,387 | |
* | First Solar Inc. | 55,048 | 11,973 |
*,1 | Plug Power Inc. | 637,143 | 7,467 |
Texas Pacific Land Corp. | 3,367 | 5,727 | |
EQT Corp. | 176,032 | 5,617 | |
1,748,055 | |||
Financials (10.1%) | |||
* | Berkshire Hathaway Inc. Class B | 1,873,006 | 578,328 |
JPMorgan Chase & Co. | 3,204,462 | 417,574 | |
Bank of America Corp. | 7,406,748 | 211,833 | |
Wells Fargo & Co. | 4,130,370 | 154,393 | |
Morgan Stanley | 1,380,072 | 121,170 | |
S&P Global Inc. | 350,569 | 120,866 | |
Goldman Sachs Group Inc. | 364,621 | 119,271 | |
BlackRock Inc. | 147,172 | 98,476 | |
Citigroup Inc. | 2,003,212 | 93,931 | |
Progressive Corp. | 637,337 | 91,177 | |
Marsh & McLennan Cos. Inc. | 538,518 | 89,690 | |
Charles Schwab Corp. | 1,680,390 | 88,019 | |
Chubb Ltd. | 451,976 | 87,765 | |
CME Group Inc. | 391,721 | 75,022 | |
Blackstone Inc. | 773,062 | 67,906 | |
Aon plc Class A (XNYS) | 212,172 | 66,896 | |
Intercontinental Exchange Inc. | 608,513 | 63,462 | |
US Bancorp | 1,666,391 | 60,073 | |
PNC Financial Services Group Inc. | 434,968 | 55,284 | |
Moody's Corp. | 169,604 | 51,902 | |
Truist Financial Corp. | 1,444,752 | 49,266 | |
MSCI Inc. Class A | 82,733 | 46,305 | |
Arthur J Gallagher & Co. | 230,894 | 44,172 | |
Travelers Cos. Inc. | 252,720 | 43,319 | |
American International Group Inc. | 802,520 | 40,415 | |
Aflac Inc. | 602,967 | 38,903 | |
Bank of New York Mellon Corp. | 836,057 | 37,990 | |
KKR & Co. Inc. | 703,550 | 36,951 | |
MetLife Inc. | 632,418 | 36,642 | |
Ameriprise Financial Inc. | 114,592 | 35,123 | |
Prudential Financial Inc. | 398,169 | 32,945 | |
Allstate Corp. | 286,615 | 31,760 | |
Discover Financial Services | 284,765 | 28,146 | |
T Rowe Price Group Inc. | 244,084 | 27,557 | |
Apollo Global Management Inc. | 435,962 | 27,535 |
Shares | Market Value ($000) | ||
Willis Towers Watson plc | 117,951 | 27,410 | |
State Street Corp. | 356,115 | 26,954 | |
* | Berkshire Hathaway Inc. Class A | 56 | 26,074 |
* | Arch Capital Group Ltd. | 382,955 | 25,991 |
Hartford Financial Services Group Inc. | 342,818 | 23,891 | |
Nasdaq Inc. | 425,766 | 23,277 | |
M&T Bank Corp. | 182,541 | 21,826 | |
Fifth Third Bancorp | 742,663 | 19,785 | |
Raymond James Financial Inc. | 211,040 | 19,684 | |
Principal Financial Group Inc. | 264,448 | 19,654 | |
Cincinnati Financial Corp. | 171,355 | 19,206 | |
Northern Trust Corp. | 215,977 | 19,034 | |
Regions Financial Corp. | 1,019,039 | 18,913 | |
Broadridge Financial Solutions Inc. | 128,295 | 18,804 | |
* | Markel Corp. | 13,859 | 17,704 |
Huntington Bancshares Inc. | 1,572,661 | 17,614 | |
LPL Financial Holdings Inc. | 85,577 | 17,321 | |
FactSet Research Systems Inc. | 41,599 | 17,267 | |
MarketAxess Holdings Inc. | 40,914 | 16,009 | |
Citizens Financial Group Inc. | 525,722 | 15,966 | |
Cboe Global Markets Inc. | 115,048 | 15,444 | |
Everest Re Group Ltd. | 42,765 | 15,311 | |
Ares Management Corp. Class A | 170,290 | 14,209 | |
W R Berkley Corp. | 215,832 | 13,438 | |
KeyCorp. | 1,017,436 | 12,738 | |
Loews Corp. | 216,295 | 12,550 | |
*,1 | Coinbase Global Inc. Class A | 159,706 | 10,791 |
1 | Annaly Capital Management Inc. | 534,687 | 10,218 |
Equitable Holdings Inc. | 393,268 | 9,985 | |
Fidelity National Financial Inc. | 281,976 | 9,849 | |
Tradeweb Markets Inc. Class A | 121,392 | 9,592 | |
Franklin Resources Inc. | 327,448 | 8,822 | |
Interactive Brokers Group Inc. Class A | 106,593 | 8,800 | |
Brown & Brown Inc. | 123,953 | 7,117 | |
Globe Life Inc. | 46,938 | 5,164 | |
Ally Financial Inc. | 147,868 | 3,769 | |
First Republic Bank | 202,092 | 2,827 | |
*,1 | Rocket Cos. Inc. Class A | 130,058 | 1,178 |
Corebridge Financial Inc. | 73,336 | 1,175 | |
3,855,428 | |||
Health Care (13.6%) | |||
UnitedHealth Group Inc. | 1,017,227 | 480,731 | |
Johnson & Johnson | 2,835,357 | 439,480 | |
Eli Lilly & Co. | 931,090 | 319,755 | |
AbbVie Inc. | 1,926,320 | 306,998 | |
Merck & Co. Inc. | 2,760,258 | 293,664 | |
Pfizer Inc. | 6,117,165 | 249,580 | |
Thermo Fisher Scientific Inc. | 419,623 | 241,858 | |
Abbott Laboratories | 1,892,057 | 191,590 | |
Danaher Corp. | 713,858 | 179,921 | |
Bristol-Myers Squibb Co. | 2,284,825 | 158,361 | |
Amgen Inc. | 581,323 | 140,535 | |
Elevance Health Inc. | 258,496 | 118,859 | |
Medtronic plc | 1,448,223 | 116,756 | |
Gilead Sciences Inc. | 1,357,676 | 112,646 | |
Stryker Corp. | 371,120 | 105,944 | |
* | Intuitive Surgical Inc. | 381,361 | 97,426 |
* | Regeneron Pharmaceuticals Inc. | 111,183 | 91,356 |
Shares | Market Value ($000) | ||
* | Vertex Pharmaceuticals Inc. | 279,866 | 88,177 |
Cigna Group | 323,369 | 82,631 | |
* | Boston Scientific Corp. | 1,561,766 | 78,135 |
Becton Dickinson and Co. | 309,030 | 76,497 | |
Zoetis Inc. | 453,876 | 75,543 | |
Humana Inc. | 136,034 | 66,039 | |
HCA Healthcare Inc. | 226,071 | 59,610 | |
* | Edwards Lifesciences Corp. | 662,002 | 54,767 |
* | Moderna Inc. | 355,653 | 54,621 |
* | DexCom Inc. | 420,705 | 48,878 |
* | IDEXX Laboratories Inc. | 90,199 | 45,107 |
Agilent Technologies Inc. | 321,960 | 44,540 | |
* | Biogen Inc. | 157,247 | 43,719 |
* | IQVIA Holdings Inc. | 202,316 | 40,239 |
* | Illumina Inc. | 171,934 | 39,983 |
* | Centene Corp. | 599,910 | 37,920 |
ResMed Inc. | 159,856 | 35,007 | |
* | GE Healthcare Inc. | 395,267 | 32,424 |
* | Seagen Inc. | 152,481 | 30,873 |
Zimmer Biomet Holdings Inc. | 228,773 | 29,557 | |
* | Veeva Systems Inc. Class A | 153,295 | 28,174 |
West Pharmaceutical Services Inc. | 80,654 | 27,944 | |
* | Horizon Therapeutics plc | 248,584 | 27,130 |
* | Alnylam Pharmaceuticals Inc. | 135,038 | 27,051 |
* | Align Technology Inc. | 80,909 | 27,035 |
* | Insulet Corp. | 75,721 | 24,152 |
Baxter International Inc. | 549,523 | 22,289 | |
Laboratory Corp. of America Holdings | 96,580 | 22,157 | |
* | Hologic Inc. | 268,213 | 21,645 |
Cardinal Health Inc. | 280,286 | 21,162 | |
STERIS plc | 107,965 | 20,652 | |
Cooper Cos. Inc. | 53,825 | 20,096 | |
* | BioMarin Pharmaceutical Inc. | 202,635 | 19,704 |
PerkinElmer Inc. | 137,832 | 18,368 | |
Quest Diagnostics Inc. | 121,643 | 17,210 | |
* | Molina Healthcare Inc. | 62,962 | 16,842 |
* | Incyte Corp. | 206,344 | 14,913 |
* | Avantor Inc. | 698,573 | 14,768 |
Royalty Pharma plc Class A | 409,180 | 14,743 | |
Teleflex Inc. | 51,218 | 12,974 | |
Viatris Inc. | 1,321,774 | 12,715 | |
* | Catalent Inc. | 186,607 | 12,262 |
* | Henry Schein Inc. | 142,560 | 11,624 |
* | Bio-Rad Laboratories Inc. Class A | 22,642 | 10,846 |
* | Charles River Laboratories International Inc. | 27,837 | 5,618 |
Universal Health Services Inc. Class B | 33,485 | 4,256 | |
*,2 | ABIOMED Inc. CVR | 12 | — |
5,186,057 | |||
Industrials (12.2%) | |||
Visa Inc. Class A | 1,769,151 | 398,873 | |
Mastercard Inc. Class A | 926,677 | 336,764 | |
Accenture plc Class A | 685,548 | 195,936 | |
Raytheon Technologies Corp. | 1,594,867 | 156,185 | |
United Parcel Service Inc. Class B (XNYS) | 789,167 | 153,091 | |
Honeywell International Inc. | 727,299 | 139,001 | |
* | Boeing Co. | 651,247 | 138,344 |
Union Pacific Corp. | 666,097 | 134,059 | |
Lockheed Martin Corp. | 277,965 | 131,402 |
Shares | Market Value ($000) | ||
Caterpillar Inc. | 562,123 | 128,636 | |
Deere & Co. | 290,341 | 119,876 | |
General Electric Co. | 1,185,665 | 113,350 | |
Automatic Data Processing Inc. | 451,073 | 100,422 | |
American Express Co. | 607,604 | 100,224 | |
* | PayPal Holdings Inc. | 1,231,507 | 93,521 |
Eaton Corp. plc | 433,206 | 74,226 | |
Illinois Tool Works Inc. | 298,906 | 72,769 | |
* | Fiserv Inc. | 615,341 | 69,552 |
Northrop Grumman Corp. | 149,941 | 69,231 | |
CSX Corp. | 2,244,964 | 67,214 | |
3M Co. | 599,005 | 62,961 | |
General Dynamics Corp. | 269,063 | 61,403 | |
Sherwin-Williams Co. | 253,155 | 56,902 | |
FedEx Corp. | 247,226 | 56,489 | |
Emerson Electric Co. | 621,890 | 54,192 | |
Norfolk Southern Corp. | 247,894 | 52,554 | |
Parker-Hannifin Corp. | 139,839 | 47,001 | |
Trane Technologies plc | 249,191 | 45,846 | |
Johnson Controls International plc | 747,912 | 45,039 | |
Cintas Corp. | 94,015 | 43,499 | |
PACCAR Inc. | 568,654 | 41,625 | |
TransDigm Group Inc. | 56,412 | 41,578 | |
Carrier Global Corp. | 907,304 | 41,509 | |
L3Harris Technologies Inc. | 207,368 | 40,694 | |
Paychex Inc. | 353,320 | 40,487 | |
* | Block Inc. (XNYS) | 589,032 | 40,437 |
Capital One Financial Corp. | 414,691 | 39,877 | |
Otis Worldwide Corp. | 451,462 | 38,103 | |
* | Mettler-Toledo International Inc. | 24,046 | 36,795 |
Cummins Inc. | 153,861 | 36,754 | |
Old Dominion Freight Line Inc. | 107,743 | 36,723 | |
Rockwell Automation Inc. | 125,097 | 36,710 | |
AMETEK Inc. | 250,313 | 36,378 | |
Fidelity National Information Services Inc. | 646,409 | 35,119 | |
PPG Industries Inc. | 256,045 | 34,203 | |
WW Grainger Inc. | 49,160 | 33,862 | |
Verisk Analytics Inc. Class A | 170,376 | 32,688 | |
DuPont de Nemours Inc. | 448,715 | 32,204 | |
* | Keysight Technologies Inc. | 193,351 | 31,222 |
Ferguson plc | 225,942 | 30,220 | |
Global Payments Inc. | 286,253 | 30,125 | |
United Rentals Inc. | 75,495 | 29,878 | |
Equifax Inc. | 133,417 | 27,062 | |
Fortive Corp. | 383,709 | 26,157 | |
Quanta Services Inc. | 156,637 | 26,102 | |
Ingersoll Rand Inc. (XYNS) | 441,283 | 25,674 | |
Vulcan Materials Co. | 144,392 | 24,772 | |
Martin Marietta Materials Inc. | 67,670 | 24,027 | |
Dover Corp. | 151,877 | 23,076 | |
* | Teledyne Technologies Inc. | 51,067 | 22,845 |
Xylem Inc. | 196,612 | 20,585 | |
* | Waters Corp. | 64,766 | 20,054 |
Expeditors International of Washington Inc. | 173,527 | 19,109 | |
Ball Corp. | 342,091 | 18,853 | |
Westinghouse Air Brake Technologies Corp. | 186,170 | 18,814 | |
* | Zebra Technologies Corp. Class A | 55,832 | 17,755 |
Jacobs Solutions Inc. | 137,772 | 16,190 |
Shares | Market Value ($000) | ||
* | FleetCor Technologies Inc. | 76,422 | 16,114 |
Textron Inc. | 224,278 | 15,841 | |
JB Hunt Transport Services Inc. | 90,243 | 15,834 | |
Snap-on Inc. | 57,922 | 14,300 | |
* | Trimble Inc. | 269,101 | 14,106 |
Synchrony Financial | 477,674 | 13,891 | |
Packaging Corp. of America | 97,288 | 13,507 | |
TransUnion | 210,584 | 13,086 | |
Stanley Black & Decker Inc. | 160,684 | 12,948 | |
CH Robinson Worldwide Inc. | 126,597 | 12,580 | |
Masco Corp. | 246,045 | 12,233 | |
HEICO Corp. Class A | 79,723 | 10,834 | |
Crown Holdings Inc. | 130,967 | 10,832 | |
* | Bill Holdings Inc. | 109,745 | 8,905 |
Howmet Aerospace Inc. | 200,326 | 8,488 | |
Westrock Co. | 278,032 | 8,472 | |
HEICO Corp. | 45,424 | 7,769 | |
Hubbell Inc. Class B | 29,327 | 7,136 | |
Jack Henry & Associates Inc. | 39,829 | 6,003 | |
4,669,707 | |||
Real Estate (2.6%) | |||
Prologis Inc. | 1,004,874 | 125,378 | |
American Tower Corp. | 506,893 | 103,578 | |
Equinix Inc. | 100,949 | 72,788 | |
Crown Castle Inc. | 471,557 | 63,113 | |
Public Storage | 162,621 | 49,134 | |
Realty Income Corp. | 718,840 | 45,517 | |
Simon Property Group Inc. | 356,058 | 39,868 | |
Welltower Inc. | 533,958 | 38,279 | |
VICI Properties Inc. Class A | 1,092,133 | 35,625 | |
Digital Realty Trust Inc. | 316,679 | 31,133 | |
SBA Communications Corp. Class A | 117,634 | 30,711 | |
* | CoStar Group Inc. | 443,086 | 30,506 |
AvalonBay Communities Inc. | 152,467 | 25,624 | |
Weyerhaeuser Co. | 796,436 | 23,997 | |
* | CBRE Group Inc. Class A | 327,122 | 23,818 |
Extra Space Storage Inc. | 145,971 | 23,783 | |
Alexandria Real Estate Equities Inc. | 188,219 | 23,638 | |
Equity Residential | 391,323 | 23,479 | |
Invitation Homes Inc. | 666,584 | 20,817 | |
Mid-America Apartment Communities Inc. | 126,636 | 19,127 | |
Sun Communities Inc. | 135,098 | 19,033 | |
Ventas Inc. | 435,700 | 18,888 | |
WP Carey Inc. | 229,024 | 17,738 | |
Iron Mountain Inc. | 316,965 | 16,771 | |
UDR Inc. | 356,808 | 14,651 | |
Essex Property Trust Inc. | 70,017 | 14,643 | |
Healthpeak Properties Inc. | 592,702 | 13,022 | |
Camden Property Trust | 116,200 | 12,182 | |
Boston Properties Inc. | 154,159 | 8,343 | |
* | Zillow Group Inc. Class C | 149,149 | 6,633 |
Host Hotels & Resorts Inc. | 390,647 | 6,442 | |
Regency Centers Corp. | 93,556 | 5,724 | |
* | Zillow Group Inc. Class A | 65,906 | 2,880 |
1,006,863 | |||
Technology (29.5%) | |||
Apple Inc. | 16,363,857 | 2,698,400 |
Shares | Market Value ($000) | ||
Microsoft Corp. | 8,103,869 | 2,336,345 | |
NVIDIA Corp. | 2,544,201 | 706,703 | |
* | Alphabet Inc. Class A | 6,486,773 | 672,873 |
* | Alphabet Inc. Class C | 5,519,843 | 574,064 |
* | Meta Platforms Inc. Class A | 2,423,064 | 513,544 |
Broadcom Inc. | 453,911 | 291,202 | |
* | Salesforce Inc. | 1,034,186 | 206,610 |
* | Adobe Inc. | 498,382 | 192,062 |
Texas Instruments Inc. | 986,814 | 183,557 | |
* | Advanced Micro Devices Inc. | 1,755,212 | 172,028 |
QUALCOMM Inc. | 1,213,920 | 154,872 | |
Oracle Corp. | 1,614,481 | 150,018 | |
Intel Corp. | 4,503,936 | 147,144 | |
Intuit Inc. | 290,100 | 129,335 | |
International Business Machines Corp. | 984,344 | 129,038 | |
Applied Materials Inc. | 920,071 | 113,012 | |
Analog Devices Inc. | 550,816 | 108,632 | |
* | ServiceNow Inc. | 220,962 | 102,686 |
Lam Research Corp. | 146,890 | 77,869 | |
Micron Technology Inc. | 1,187,957 | 71,681 | |
* | Palo Alto Networks Inc. | 329,385 | 65,791 |
* | Synopsys Inc. | 165,769 | 64,028 |
* | Cadence Design Systems Inc. | 297,093 | 62,416 |
KLA Corp. | 150,770 | 60,183 | |
Amphenol Corp. Class A | 648,093 | 52,962 | |
Roper Technologies Inc. | 115,499 | 50,899 | |
Microchip Technology Inc. | 596,305 | 49,958 | |
* | Autodesk Inc. | 235,094 | 48,937 |
* | Fortinet Inc. | 723,283 | 48,069 |
* | Snowflake Inc. Class A | 297,513 | 45,903 |
* | Workday Inc. Class A | 219,805 | 45,399 |
TE Connectivity Ltd. | 344,084 | 45,127 | |
Marvell Technology Inc. | 928,712 | 40,213 | |
* | ON Semiconductor Corp. | 470,142 | 38,702 |
Cognizant Technology Solutions Corp. Class A | 554,122 | 33,763 | |
* | Crowdstrike Holdings Inc. Class A | 237,476 | 32,596 |
* | VMware Inc. Class A | 254,736 | 31,804 |
* | ANSYS Inc. | 94,925 | 31,591 |
Corning Inc. | 829,470 | 29,264 | |
CDW Corp. | 147,521 | 28,750 | |
HP Inc. | 961,908 | 28,232 | |
* | Atlassian Corp. Ltd. Class A | 163,328 | 27,957 |
* | Gartner Inc. | 81,835 | 26,659 |
Monolithic Power Systems Inc. | 48,688 | 24,370 | |
Hewlett Packard Enterprise Co. | 1,410,685 | 22,472 | |
* | HubSpot Inc. | 51,027 | 21,878 |
* | Datadog Inc. Class A | 286,566 | 20,822 |
* | VeriSign Inc. | 96,936 | 20,486 |
Skyworks Solutions Inc. | 172,863 | 20,394 | |
* | DoorDash Inc. Class A | 314,130 | 19,966 |
Teradyne Inc. | 169,826 | 18,258 | |
* | Cloudflare Inc. Class A | 296,047 | 18,254 |
* | EPAM Systems Inc. | 59,585 | 17,816 |
* | Pinterest Inc. Class A | 646,451 | 17,629 |
* | Splunk Inc. | 177,932 | 17,060 |
* | Paycom Software Inc. | 55,699 | 16,933 |
* | Zoom Video Communications Inc. Class A | 227,749 | 16,817 |
* | MongoDB Inc. Class A | 71,586 | 16,688 |
Shares | Market Value ($000) | ||
* | Tyler Technologies Inc. | 45,435 | 16,113 |
* | Palantir Technologies Inc. Class A | 1,846,319 | 15,601 |
NetApp Inc. | 234,253 | 14,957 | |
* | Okta Inc. | 166,108 | 14,325 |
Seagate Technology Holdings plc | 213,974 | 14,148 | |
* | Akamai Technologies Inc. | 171,616 | 13,438 |
SS&C Technologies Holdings Inc. | 233,661 | 13,195 | |
* | Western Digital Corp. | 346,986 | 13,071 |
* | GoDaddy Inc. Class A | 166,558 | 12,945 |
* | DocuSign Inc. Class A | 219,189 | 12,779 |
* | Twilio Inc. Class A | 190,460 | 12,690 |
* | Snap Inc. Class A | 1,082,682 | 12,137 |
* | Match Group Inc. | 304,946 | 11,707 |
* | Zscaler Inc. | 94,468 | 11,037 |
* | Qorvo Inc. | 108,516 | 11,022 |
Bentley Systems Inc. Class B | 242,316 | 10,417 | |
Gen Digital Inc. (XNGS) | 590,426 | 10,132 | |
Dell Technologies Inc. Class C | 250,042 | 10,054 | |
* | ZoomInfo Technologies Inc. Class A | 374,916 | 9,264 |
*,1 | Unity Software Inc. | 284,822 | 9,240 |
* | Black Knight Inc. | 152,655 | 8,787 |
Leidos Holdings Inc. | 74,869 | 6,892 | |
* | F5 Inc. | 33,096 | 4,822 |
* | Toast Inc. Class A | 172,108 | 3,055 |
* | UiPath Inc. Class A | 168,007 | 2,950 |
11,285,499 | |||
Telecommunications (2.5%) | |||
Cisco Systems Inc. | 4,013,034 | 209,781 | |
Comcast Corp. Class A | 4,578,132 | 173,557 | |
Verizon Communications Inc. | 4,115,036 | 160,034 | |
AT&T Inc. | 7,761,424 | 149,407 | |
* | T-Mobile US Inc. | 663,640 | 96,122 |
Motorola Solutions Inc. | 182,089 | 52,101 | |
* | Arista Networks Inc. | 250,012 | 41,967 |
* | Charter Communications Inc. Class A | 99,600 | 35,618 |
* | Liberty Broadband Corp. Class C | 132,045 | 10,788 |
* | Roku Inc. | 133,166 | 8,765 |
Juniper Networks Inc. | 177,700 | 6,117 | |
* | Liberty Broadband Corp. Class A | 17,934 | 1,473 |
* | DISH Network Corp. Class A | 132,936 | 1,240 |
946,970 | |||
Utilities (3.1%) | |||
NextEra Energy Inc. | 2,200,002 | 169,576 | |
Southern Co. | 1,185,268 | 82,471 | |
Duke Energy Corp. | 838,377 | 80,878 | |
Waste Management Inc. | 444,277 | 72,493 | |
Sempra Energy (XNYS) | 342,346 | 51,749 | |
American Electric Power Co. Inc. | 559,668 | 50,924 | |
Dominion Energy Inc. | 908,743 | 50,808 | |
Exelon Corp. | 1,081,353 | 45,298 | |
Xcel Energy Inc. | 597,866 | 40,320 | |
* | PG&E Corp. | 2,415,594 | 39,060 |
Waste Connections Inc. (XTSE) | 280,169 | 38,963 | |
Consolidated Edison Inc. | 386,623 | 36,988 | |
Public Service Enterprise Group Inc. | 543,628 | 33,950 | |
WEC Energy Group Inc. | 343,551 | 32,565 | |
American Water Works Co. Inc. | 210,135 | 30,783 |
Shares | Market Value ($000) | ||
Republic Services Inc. Class A | 223,803 | 30,263 | |
Eversource Energy | 379,492 | 29,699 | |
Edison International | 416,050 | 29,369 | |
Constellation Energy Corp. | 355,965 | 27,943 | |
Entergy Corp. | 229,503 | 24,727 | |
Ameren Corp. | 281,607 | 24,328 | |
FirstEnergy Corp. | 591,970 | 23,714 | |
PPL Corp. | 800,548 | 22,247 | |
CenterPoint Energy Inc. | 685,782 | 20,203 | |
DTE Energy Co. | 179,584 | 19,672 | |
CMS Energy Corp. | 316,459 | 19,424 | |
AES Corp. | 728,006 | 17,530 | |
Evergy Inc. | 250,504 | 15,311 | |
Alliant Energy Corp. | 274,103 | 14,637 | |
NiSource Inc. | 445,427 | 12,454 | |
Vistra Corp. | 434,656 | 10,432 | |
Avangrid Inc. | 85,384 | 3,405 | |
1,202,184 | |||
Total Common Stocks (Cost $22,969,565) | 38,206,628 | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
3,4 | Vanguard Market Liquidity Fund, 4.839% (Cost $71,675) | 716,905 | 71,684 |
Total Investments (100.1%) (Cost $23,041,240) | 38,278,312 | ||
Other Assets and Liabilities—Net (-0.1%) | (24,378) | ||
Net Assets (100%) | 38,253,934 | ||
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 $51,522,000. |
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 $52,618,000 was received for securities on loan. |
CVR—Contingent Value Rights. |
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 S&P 500 Index | June 2023 | 250 | 51,722 | 3,024 |
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 at their fair values calculated according to procedures adopted by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
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 | 38,206,628 | — | — | 38,206,628 |
Temporary Cash Investments | 71,684 | — | — | 71,684 |
Total | 38,278,312 | — | — | 38,278,312 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 3,024 | — | — | 3,024 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |