Vanguard® 500 Index Fund
Schedule of Investments (unaudited)
As of September 30, 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 (99.6%) | |||
Communication Services (8.8%) | |||
* | Alphabet Inc. Class A | 142,591,027 | 18,659,462 |
* | Meta Platforms Inc. Class A | 53,417,982 | 16,036,612 |
* | Alphabet Inc. Class C | 121,301,299 | 15,993,576 |
Comcast Corp. Class A | 98,924,339 | 4,386,305 | |
* | Netflix Inc. | 10,549,993 | 3,983,677 |
* | Walt Disney Co. | 43,975,345 | 3,564,202 |
Verizon Communications Inc. | 101,034,948 | 3,274,543 | |
AT&T Inc. | 171,811,366 | 2,580,607 | |
* | T-Mobile US Inc. | 12,441,786 | 1,742,472 |
Activision Blizzard Inc. | 17,193,109 | 1,609,791 | |
* | Charter Communications Inc. Class A | 2,445,886 | 1,075,750 |
Electronic Arts Inc. | 5,924,341 | 713,291 | |
* | Warner Bros Discovery Inc. | 53,306,501 | 578,909 |
* | Take-Two Interactive Software Inc. | 3,795,812 | 532,894 |
Omnicom Group Inc. | 4,748,396 | 353,660 | |
* | Live Nation Entertainment Inc. | 3,407,491 | 282,958 |
Interpublic Group of Cos. Inc. | 9,251,871 | 265,159 | |
* | Match Group Inc. | 6,683,348 | 261,820 |
News Corp. Class A | 12,024,898 | 241,219 | |
Fox Corp. Class A | 6,035,925 | 188,321 | |
1 | Paramount Global Class B | 11,589,557 | 149,505 |
Fox Corp. Class B | 3,237,151 | 93,489 | |
News Corp. Class B | 1,428 | 30 | |
76,568,252 | |||
Consumer Discretionary (10.6%) | |||
* | Amazon.com Inc. | 218,221,511 | 27,740,318 |
* | Tesla Inc. | 66,368,073 | 16,606,619 |
Home Depot Inc. | 24,163,601 | 7,301,274 | |
McDonald's Corp. | 17,515,891 | 4,614,386 | |
Lowe's Cos. Inc. | 14,082,456 | 2,926,898 | |
NIKE Inc. Class B | 29,441,664 | 2,815,212 | |
* | Booking Holdings Inc. | 857,796 | 2,645,400 |
Starbucks Corp. | 27,527,115 | 2,512,400 | |
TJX Cos. Inc. | 27,619,181 | 2,454,793 | |
* | Airbnb Inc. Class A | 10,262,235 | 1,408,081 |
* | O'Reilly Automotive Inc. | 1,451,661 | 1,319,357 |
* | Chipotle Mexican Grill Inc. | 663,048 | 1,214,591 |
Marriott International Inc. Class A | 6,020,551 | 1,183,399 | |
Ford Motor Co. | 94,482,963 | 1,173,478 | |
* | AutoZone Inc. | 436,384 | 1,108,411 |
General Motors Co. | 33,066,617 | 1,090,206 | |
Hilton Worldwide Holdings Inc. | 6,284,851 | 943,859 |
Shares | Market Value ($000) | ||
Ross Stores Inc. | 8,186,846 | 924,704 | |
Yum! Brands Inc. | 6,734,156 | 841,365 | |
DR Horton Inc. | 7,316,951 | 786,353 | |
Lennar Corp. Class A | 6,007,635 | 674,237 | |
* | Aptiv plc | 6,797,649 | 670,180 |
eBay Inc. | 12,789,164 | 563,874 | |
Tractor Supply Co. | 2,615,024 | 530,981 | |
* | Royal Caribbean Cruises Ltd. | 5,664,689 | 521,944 |
Genuine Parts Co. | 3,375,151 | 487,304 | |
* | Ulta Beauty Inc. | 1,196,884 | 478,095 |
* | NVR Inc. | 78,478 | 467,988 |
Darden Restaurants Inc. | 2,904,885 | 416,038 | |
PulteGroup Inc. | 5,273,742 | 390,521 | |
Garmin Ltd. | 3,680,925 | 387,233 | |
Las Vegas Sands Corp. | 7,899,839 | 362,129 | |
* | Expedia Group Inc. | 3,312,702 | 341,440 |
Pool Corp. | 938,623 | 334,244 | |
* | Carnival Corp. | 24,209,007 | 332,148 |
Best Buy Co. Inc. | 4,667,440 | 324,247 | |
Domino's Pizza Inc. | 843,352 | 319,453 | |
LKQ Corp. | 6,430,813 | 318,390 | |
* | CarMax Inc. | 3,802,415 | 268,945 |
MGM Resorts International | 6,745,154 | 247,952 | |
* | Caesars Entertainment Inc. | 5,174,307 | 239,829 |
BorgWarner Inc. (XNYS) | 5,649,524 | 228,071 | |
Wynn Resorts Ltd. | 2,327,401 | 215,075 | |
Hasbro Inc. | 3,133,940 | 207,279 | |
* | Etsy Inc. | 2,956,462 | 190,928 |
Bath & Body Works Inc. | 5,501,529 | 185,952 | |
Whirlpool Corp. | 1,316,269 | 175,985 | |
* | Norwegian Cruise Line Holdings Ltd. | 10,224,002 | 168,492 |
Tapestry Inc. | 5,570,969 | 160,165 | |
VF Corp. | 7,944,461 | 140,379 | |
Ralph Lauren Corp. | 970,692 | 112,688 | |
* | Mohawk Industries Inc. | 1,270,360 | 109,010 |
Lennar Corp. Class B | 74,560 | 7,622 | |
92,189,922 | |||
Consumer Staples (6.6%) | |||
Procter & Gamble Co. | 56,655,793 | 8,263,814 | |
Costco Wholesale Corp. | 10,650,943 | 6,017,357 | |
PepsiCo Inc. | 33,085,595 | 5,606,023 | |
Walmart Inc. | 34,303,289 | 5,486,125 | |
Coca-Cola Co. | 93,541,589 | 5,236,458 | |
Philip Morris International Inc. | 37,312,322 | 3,454,375 | |
Mondelez International Inc. Class A | 32,694,420 | 2,268,993 | |
Altria Group Inc. | 42,659,649 | 1,793,838 | |
Colgate-Palmolive Co. | 19,867,599 | 1,412,785 | |
Target Corp. | 11,092,749 | 1,226,525 | |
Kimberly-Clark Corp. | 8,127,500 | 982,208 | |
Constellation Brands Inc. Class A | 3,876,673 | 974,324 | |
Archer-Daniels-Midland Co. | 12,883,749 | 971,692 | |
* | Monster Beverage Corp. | 17,873,431 | 946,398 |
General Mills Inc. | 14,071,005 | 900,404 | |
Kenvue Inc. | 41,417,960 | 831,673 | |
Estee Lauder Cos. Inc. Class A | 5,572,558 | 805,513 | |
Sysco Corp. | 12,139,278 | 801,799 | |
Keurig Dr Pepper Inc. | 24,183,672 | 763,479 | |
Hershey Co. | 3,601,591 | 720,606 |
Shares | Market Value ($000) | ||
Kroger Co. | 14,869,784 | 665,423 | |
Kraft Heinz Co. | 19,187,402 | 645,464 | |
Dollar General Corp. | 5,271,467 | 557,721 | |
Church & Dwight Co. Inc. | 5,913,270 | 541,833 | |
* | Dollar Tree Inc. | 5,031,774 | 535,632 |
McCormick & Co. Inc. | 6,034,693 | 456,464 | |
Bunge Ltd. | 3,620,375 | 391,906 | |
Clorox Co. | 2,975,899 | 390,021 | |
Walgreens Boots Alliance Inc. | 17,219,949 | 382,972 | |
Kellogg Co. | 6,335,476 | 377,024 | |
Tyson Foods Inc. Class A | 6,862,788 | 346,502 | |
Lamb Weston Holdings Inc. | 3,503,993 | 323,979 | |
Conagra Brands Inc. | 11,484,984 | 314,918 | |
J M Smucker Co. | 2,453,897 | 301,609 | |
Molson Coors Beverage Co. Class B | 4,460,678 | 283,655 | |
Hormel Foods Corp. | 6,958,026 | 264,614 | |
Brown-Forman Corp. Class B | 4,397,313 | 253,681 | |
Campbell Soup Co. | 4,728,352 | 194,241 | |
56,692,048 | |||
Energy (4.7%) | |||
Exxon Mobil Corp. | 96,210,762 | 11,312,461 | |
Chevron Corp. | 42,643,135 | 7,190,486 | |
ConocoPhillips | 28,782,449 | 3,448,137 | |
Schlumberger NV | 34,154,889 | 1,991,230 | |
EOG Resources Inc. | 13,993,315 | 1,773,793 | |
Marathon Petroleum Corp. | 9,611,713 | 1,454,637 | |
Phillips 66 | 10,704,979 | 1,286,203 | |
Pioneer Natural Resources Co. | 5,603,084 | 1,286,188 | |
Valero Energy Corp. | 8,486,552 | 1,202,629 | |
Occidental Petroleum Corp. | 15,951,754 | 1,034,950 | |
Hess Corp. | 6,641,491 | 1,016,148 | |
Williams Cos. Inc. | 29,233,741 | 984,885 | |
ONEOK Inc. | 13,995,922 | 887,761 | |
Halliburton Co. | 21,594,507 | 874,578 | |
Baker Hughes Co. | 24,264,677 | 857,028 | |
Kinder Morgan Inc. | 46,615,157 | 772,879 | |
Devon Energy Corp. | 15,398,215 | 734,495 | |
Diamondback Energy Inc. | 4,297,439 | 665,587 | |
Coterra Energy Inc. | 18,204,034 | 492,419 | |
Targa Resources Corp. | 5,376,444 | 460,869 | |
Marathon Oil Corp. | 14,556,493 | 389,386 | |
EQT Corp. | 8,691,809 | 352,714 | |
APA Corp. | 7,384,541 | 303,505 | |
40,772,968 | |||
Financials (12.7%) | |||
* | Berkshire Hathaway Inc. Class B | 43,830,986 | 15,353,994 |
JPMorgan Chase & Co. | 69,846,359 | 10,129,119 | |
Visa Inc. Class A | 38,367,322 | 8,824,868 | |
Mastercard Inc. Class A | 19,996,706 | 7,916,896 | |
Bank of America Corp. | 166,148,005 | 4,549,132 | |
Wells Fargo & Co. | 87,949,386 | 3,593,612 | |
S&P Global Inc. | 7,820,138 | 2,857,557 | |
Morgan Stanley | 30,660,695 | 2,504,059 | |
Goldman Sachs Group Inc. | 7,271,783 | 2,352,931 | |
Marsh & McLennan Cos. Inc. | 11,870,988 | 2,259,049 | |
BlackRock Inc. | 3,372,551 | 2,180,321 | |
American Express Co. | 13,981,936 | 2,085,965 |
Shares | Market Value ($000) | ||
Chubb Ltd. | 9,873,361 | 2,055,436 | |
Charles Schwab Corp. | 35,736,688 | 1,961,944 | |
Progressive Corp. | 14,067,170 | 1,959,557 | |
Citigroup Inc. | 45,679,765 | 1,878,809 | |
Blackstone Inc. | 17,083,423 | 1,830,318 | |
CME Group Inc. | 8,645,664 | 1,731,035 | |
* | Fiserv Inc. | 14,650,404 | 1,654,910 |
Aon plc Class A (XNYS) | 4,875,496 | 1,580,733 | |
* | PayPal Holdings Inc. | 26,388,376 | 1,542,664 |
Intercontinental Exchange Inc. | 13,754,952 | 1,513,320 | |
US Bancorp | 37,425,292 | 1,237,280 | |
Moody's Corp. | 3,792,657 | 1,199,124 | |
Arthur J Gallagher & Co. | 5,179,192 | 1,180,493 | |
PNC Financial Services Group Inc. | 9,571,444 | 1,175,086 | |
American International Group Inc. | 17,108,545 | 1,036,778 | |
Aflac Inc. | 12,991,444 | 997,093 | |
MSCI Inc. | 1,900,731 | 975,227 | |
MetLife Inc. | 15,181,097 | 955,043 | |
Truist Financial Corp. | 32,012,170 | 915,868 | |
Travelers Cos. Inc. | 5,502,123 | 898,552 | |
Capital One Financial Corp. | 9,167,228 | 889,680 | |
Prudential Financial Inc. | 8,724,038 | 827,824 | |
Ameriprise Financial Inc. | 2,466,291 | 813,087 | |
Fidelity National Information Services Inc. | 13,378,832 | 739,448 | |
Bank of New York Mellon Corp. | 16,838,531 | 718,163 | |
* | Arch Capital Group Ltd. | 8,962,994 | 714,440 |
Allstate Corp. | 6,286,499 | 700,379 | |
T Rowe Price Group Inc. | 5,390,445 | 565,296 | |
Global Payments Inc. | 4,893,328 | 564,641 | |
Willis Towers Watson plc | 2,519,170 | 526,406 | |
Hartford Financial Services Group Inc. | 7,349,455 | 521,150 | |
Discover Financial Services | 6,006,940 | 520,381 | |
State Street Corp. | 7,657,297 | 512,733 | |
M&T Bank Corp. | 3,987,112 | 504,170 | |
* | FleetCor Technologies Inc. | 1,777,473 | 453,860 |
Raymond James Financial Inc. | 4,517,257 | 453,668 | |
Fifth Third Bancorp | 16,365,464 | 414,537 | |
FactSet Research Systems Inc. | 916,689 | 400,831 | |
Cboe Global Markets Inc. | 2,535,825 | 396,121 | |
Nasdaq Inc. | 8,147,404 | 395,882 | |
Brown & Brown Inc. | 5,657,284 | 395,105 | |
Regions Financial Corp. | 22,555,091 | 387,948 | |
Everest Group Ltd. | 1,043,080 | 387,682 | |
Cincinnati Financial Corp. | 3,769,770 | 385,610 | |
Principal Financial Group Inc. | 5,344,390 | 385,170 | |
Huntington Bancshares Inc. | 34,778,308 | 361,694 | |
Northern Trust Corp. | 4,975,108 | 345,671 | |
W R Berkley Corp. | 4,889,611 | 310,441 | |
Synchrony Financial | 10,050,105 | 307,232 | |
Citizens Financial Group Inc. | 11,351,917 | 304,231 | |
Loews Corp. | 4,444,009 | 281,350 | |
Jack Henry & Associates Inc. | 1,751,438 | 264,712 | |
KeyCorp. | 22,495,908 | 242,056 | |
Globe Life Inc. | 2,089,857 | 227,230 | |
MarketAxess Holdings Inc. | 905,564 | 193,465 | |
Assurant Inc. | 1,274,379 | 182,975 | |
Franklin Resources Inc. | 6,835,766 | 168,023 | |
Invesco Ltd. | 10,531,792 | 152,922 |
Shares | Market Value ($000) | ||
Comerica Inc. | 3,162,882 | 131,418 | |
Zions Bancorp NA | 3,556,163 | 124,075 | |
110,058,480 | |||
Health Care (13.3%) | |||
UnitedHealth Group Inc. | 22,262,905 | 11,224,734 | |
Eli Lilly & Co. | 19,165,190 | 10,294,198 | |
Johnson & Johnson | 57,874,177 | 9,013,903 | |
AbbVie Inc. | 42,422,285 | 6,323,466 | |
Merck & Co. Inc. | 60,988,242 | 6,278,740 | |
Thermo Fisher Scientific Inc. | 9,276,482 | 4,695,477 | |
Pfizer Inc. | 135,702,485 | 4,501,251 | |
Abbott Laboratories | 41,710,293 | 4,039,642 | |
Danaher Corp. | 15,794,696 | 3,918,664 | |
Amgen Inc. | 12,857,055 | 3,455,462 | |
Bristol-Myers Squibb Co. | 50,206,334 | 2,913,976 | |
Medtronic plc | 31,991,393 | 2,506,846 | |
* | Intuitive Surgical Inc. | 8,444,127 | 2,468,134 |
Elevance Health Inc. | 5,663,325 | 2,465,925 | |
Gilead Sciences Inc. | 29,945,014 | 2,244,079 | |
Stryker Corp. | 8,123,114 | 2,219,803 | |
* | Vertex Pharmaceuticals Inc. | 6,202,774 | 2,156,953 |
CVS Health Corp. | 30,867,928 | 2,155,199 | |
* | Regeneron Pharmaceuticals Inc. | 2,565,130 | 2,110,999 |
Cigna Group | 7,113,266 | 2,034,892 | |
Zoetis Inc. | 11,062,568 | 1,924,666 | |
* | Boston Scientific Corp. | 35,190,189 | 1,858,042 |
Becton Dickinson and Co. | 6,972,432 | 1,802,583 | |
Humana Inc. | 2,977,862 | 1,448,789 | |
McKesson Corp. | 3,242,072 | 1,409,815 | |
HCA Healthcare Inc. | 4,836,883 | 1,189,776 | |
* | Edwards Lifesciences Corp. | 14,610,007 | 1,012,181 |
* | Centene Corp. | 13,012,957 | 896,332 |
* | Biogen Inc. | 3,480,440 | 894,508 |
* | IDEXX Laboratories Inc. | 1,995,040 | 872,371 |
* | DexCom Inc. | 9,323,228 | 869,857 |
* | IQVIA Holdings Inc. | 4,400,806 | 865,859 |
* | Moderna Inc. | 7,957,859 | 821,967 |
Agilent Technologies Inc. | 7,098,727 | 793,780 | |
Cencora Inc. | 4,006,511 | 721,052 | |
West Pharmaceutical Services Inc. | 1,775,068 | 666,023 | |
GE Healthcare Inc. | 9,400,739 | 639,626 | |
* | Mettler-Toledo International Inc. | 525,500 | 582,291 |
Zimmer Biomet Holdings Inc. | 5,021,990 | 563,568 | |
Cardinal Health Inc. | 6,118,774 | 531,232 | |
* | Illumina Inc. | 3,804,419 | 522,271 |
* | Align Technology Inc. | 1,710,556 | 522,267 |
ResMed Inc. | 3,531,246 | 522,165 | |
STERIS plc | 2,370,907 | 520,224 | |
* | Molina Healthcare Inc. | 1,401,095 | 459,405 |
Baxter International Inc. | 12,170,572 | 459,317 | |
Laboratory Corp. of America Holdings | 2,129,266 | 428,089 | |
* | Hologic Inc. | 5,886,487 | 408,522 |
* | Waters Corp. | 1,420,467 | 389,506 |
Cooper Cos. Inc. | 1,189,779 | 378,362 | |
Revvity Inc. | 2,983,396 | 330,262 | |
Quest Diagnostics Inc. | 2,697,373 | 328,702 | |
Viatris Inc. | 28,826,895 | 284,233 | |
* | Insulet Corp. | 1,678,055 | 267,633 |
Shares | Market Value ($000) | ||
* | Incyte Corp. | 4,471,069 | 258,294 |
Bio-Techne Corp. | 3,783,360 | 257,533 | |
* | Charles River Laboratories International Inc. | 1,232,256 | 241,498 |
* | Henry Schein Inc. | 3,138,382 | 233,025 |
Teleflex Inc. | 1,129,337 | 221,813 | |
* | Catalent Inc. | 4,332,518 | 197,260 |
Universal Health Services Inc. Class B | 1,493,428 | 187,769 | |
* | Bio-Rad Laboratories Inc. Class A | 501,837 | 179,883 |
DENTSPLY SIRONA Inc. | 5,088,290 | 173,816 | |
* | DaVita Inc. | 1,294,172 | 122,338 |
Organon & Co. | 6,153,969 | 106,833 | |
*,2 | ABIOMED Inc. CVR | 180 | — |
115,387,681 | |||
Industrials (8.3%) | |||
Caterpillar Inc. | 12,261,729 | 3,347,452 | |
Union Pacific Corp. | 14,649,190 | 2,983,015 | |
Honeywell International Inc. | 15,959,420 | 2,948,343 | |
General Electric Co. | 26,160,956 | 2,892,094 | |
United Parcel Service Inc. Class B (XNYS) | 17,382,366 | 2,709,389 | |
* | Boeing Co. | 13,626,880 | 2,612,000 |
RTX Corp. | 34,979,797 | 2,517,496 | |
Deere & Co. | 6,553,147 | 2,473,027 | |
Automatic Data Processing Inc. | 9,901,149 | 2,382,018 | |
Lockheed Martin Corp. | 5,387,502 | 2,203,273 | |
Eaton Corp. plc | 9,589,085 | 2,045,160 | |
Illinois Tool Works Inc. | 6,613,119 | 1,523,067 | |
Northrop Grumman Corp. | 3,419,167 | 1,505,083 | |
CSX Corp. | 48,216,902 | 1,482,670 | |
FedEx Corp. | 5,562,800 | 1,473,697 | |
Waste Management Inc. | 8,861,540 | 1,350,853 | |
Emerson Electric Co. | 13,734,926 | 1,326,382 | |
3M Co. | 13,265,962 | 1,241,959 | |
General Dynamics Corp. | 5,446,412 | 1,203,494 | |
Parker-Hannifin Corp. | 3,083,333 | 1,201,020 | |
* | TransDigm Group Inc. | 1,326,335 | 1,118,273 |
Trane Technologies plc | 5,488,999 | 1,113,773 | |
Carrier Global Corp. | 20,130,791 | 1,111,220 | |
Norfolk Southern Corp. | 5,455,748 | 1,074,400 | |
PACCAR Inc. | 12,564,301 | 1,068,217 | |
Cintas Corp. | 2,078,338 | 999,701 | |
* | Copart Inc. | 20,883,441 | 899,867 |
Paychex Inc. | 7,712,054 | 889,431 | |
Old Dominion Freight Line Inc. | 2,153,391 | 881,038 | |
Johnson Controls International plc | 16,349,696 | 869,967 | |
Verisk Analytics Inc. | 3,485,469 | 823,407 | |
AMETEK Inc. | 5,544,884 | 819,312 | |
Otis Worldwide Corp. | 9,895,204 | 794,684 | |
L3Harris Technologies Inc. | 4,545,462 | 791,456 | |
Rockwell Automation Inc. | 2,760,346 | 789,100 | |
Cummins Inc. | 3,404,216 | 777,727 | |
Fastenal Co. | 13,730,836 | 750,253 | |
WW Grainger Inc. | 1,069,526 | 739,941 | |
United Rentals Inc. | 1,641,040 | 729,557 | |
Republic Services Inc. | 4,944,560 | 704,649 | |
Quanta Services Inc. | 3,489,533 | 652,787 | |
Fortive Corp. | 8,460,125 | 627,403 | |
Ingersoll Rand Inc. (XYNS) | 9,718,968 | 619,293 | |
Delta Air Lines Inc. | 15,462,854 | 572,126 |
Shares | Market Value ($000) | ||
Equifax Inc. | 2,949,417 | 540,274 | |
Xylem Inc. | 5,787,868 | 526,870 | |
Broadridge Financial Solutions Inc. | 2,838,765 | 508,281 | |
Dover Corp. | 3,361,681 | 468,988 | |
Westinghouse Air Brake Technologies Corp. | 4,304,957 | 457,488 | |
Howmet Aerospace Inc. | 9,411,949 | 435,303 | |
Jacobs Solutions Inc. | 3,026,247 | 413,083 | |
Expeditors International of Washington Inc. | 3,554,266 | 407,426 | |
Southwest Airlines Co. | 14,314,668 | 387,498 | |
IDEX Corp. | 1,816,968 | 377,966 | |
Textron Inc. | 4,760,270 | 371,967 | |
JB Hunt Transport Services Inc. | 1,962,084 | 369,892 | |
* | Axon Enterprise Inc. | 1,688,885 | 336,071 |
* | United Airlines Holdings Inc. | 7,882,277 | 333,420 |
Snap-on Inc. | 1,271,778 | 324,380 | |
Stanley Black & Decker Inc. | 3,682,689 | 307,799 | |
Paycom Software Inc. | 1,183,956 | 306,964 | |
Leidos Holdings Inc. | 3,301,130 | 304,232 | |
Nordson Corp. | 1,301,246 | 290,399 | |
Masco Corp. | 5,406,017 | 288,952 | |
Pentair plc | 3,968,287 | 256,947 | |
* | Ceridian HCM Holding Inc. | 3,737,273 | 253,574 |
Rollins Inc. | 6,747,896 | 251,899 | |
CH Robinson Worldwide Inc. | 2,798,349 | 241,022 | |
Allegion plc | 2,109,782 | 219,839 | |
* | American Airlines Group Inc. | 15,702,915 | 201,154 |
A O Smith Corp. | 2,994,390 | 198,019 | |
Huntington Ingalls Industries Inc. | 958,178 | 196,024 | |
Robert Half Inc. | 2,573,550 | 188,590 | |
* | Generac Holdings Inc. | 1,494,628 | 162,855 |
* | Alaska Air Group Inc. | 3,057,801 | 113,383 |
71,679,633 | |||
Information Technology (27.4%) | |||
Apple Inc. | 353,209,816 | 60,473,053 | |
Microsoft Corp. | 178,568,305 | 56,382,942 | |
NVIDIA Corp. | 59,364,508 | 25,822,967 | |
Broadcom Inc. | 9,918,809 | 8,238,364 | |
* | Adobe Inc. | 10,955,140 | 5,586,026 |
Cisco Systems Inc. | 97,942,457 | 5,265,386 | |
* | Salesforce Inc. | 23,407,839 | 4,746,642 |
Accenture plc Class A | 15,161,349 | 4,656,202 | |
Oracle Corp. | 37,835,446 | 4,007,530 | |
* | Advanced Micro Devices Inc. | 38,829,333 | 3,992,432 |
Intel Corp. | 100,650,272 | 3,578,117 | |
Texas Instruments Inc. | 21,825,594 | 3,470,488 | |
Intuit Inc. | 6,730,660 | 3,438,963 | |
International Business Machines Corp. | 21,897,458 | 3,072,213 | |
QUALCOMM Inc. | 26,820,838 | 2,978,722 | |
Applied Materials Inc. | 20,181,415 | 2,794,117 | |
* | ServiceNow Inc. | 4,902,717 | 2,740,423 |
Analog Devices Inc. | 12,050,355 | 2,109,897 | |
Lam Research Corp. | 3,203,546 | 2,007,887 | |
Micron Technology Inc. | 26,323,257 | 1,790,771 | |
* | Palo Alto Networks Inc. | 7,350,700 | 1,723,298 |
* | Synopsys Inc. | 3,656,835 | 1,678,378 |
* | Cadence Design Systems Inc. | 6,531,950 | 1,530,436 |
KLA Corp. | 3,285,695 | 1,507,017 | |
Roper Technologies Inc. | 2,564,617 | 1,241,993 |
Shares | Market Value ($000) | ||
1 | NXP Semiconductors NV | 6,195,778 | 1,238,660 |
Amphenol Corp. Class A | 14,334,733 | 1,203,974 | |
* | Arista Networks Inc. | 6,027,165 | 1,108,576 |
Motorola Solutions Inc. | 4,015,625 | 1,093,214 | |
* | Autodesk Inc. | 5,136,515 | 1,062,796 |
Microchip Technology Inc. | 13,081,861 | 1,021,039 | |
* | ON Semiconductor Corp. | 10,370,902 | 963,975 |
�� | TE Connectivity Ltd. | 7,544,902 | 932,022 |
* | Fortinet Inc. | 15,665,552 | 919,255 |
Cognizant Technology Solutions Corp. Class A | 12,137,526 | 822,196 | |
* | Gartner Inc. | 1,894,417 | 650,941 |
CDW Corp. | 3,221,559 | 649,982 | |
* | ANSYS Inc. | 2,085,866 | 620,649 |
* | Keysight Technologies Inc. | 4,286,877 | 567,197 |
Corning Inc. | 18,462,854 | 562,563 | |
Hewlett Packard Enterprise Co. | 31,038,750 | 539,143 | |
HP Inc. | 20,851,956 | 535,895 | |
Monolithic Power Systems Inc. | 1,148,372 | 530,548 | |
* | Fair Isaac Corp. | 597,345 | 518,812 |
* | Teledyne Technologies Inc. | 1,131,340 | 462,243 |
* | VeriSign Inc. | 2,156,345 | 436,725 |
* | First Solar Inc. | 2,567,733 | 414,920 |
* | PTC Inc. | 2,856,565 | 404,718 |
* | Enphase Energy Inc. | 3,276,958 | 393,726 |
* | Tyler Technologies Inc. | 1,010,798 | 390,310 |
* | Akamai Technologies Inc. | 3,653,094 | 389,201 |
NetApp Inc. | 5,066,424 | 384,440 | |
Skyworks Solutions Inc. | 3,830,843 | 377,683 | |
Teradyne Inc. | 3,701,504 | 371,853 | |
* | EPAM Systems Inc. | 1,392,981 | 356,171 |
* | Western Digital Corp. | 7,689,229 | 350,860 |
* | Trimble Inc. | 5,968,375 | 321,457 |
Seagate Technology Holdings plc | 4,635,449 | 305,708 | |
* | Zebra Technologies Corp. Class A | 1,233,839 | 291,840 |
Gen Digital Inc. (XNGS) | 13,523,768 | 239,100 | |
* | F5 Inc. | 1,425,172 | 229,652 |
* | Qorvo Inc. | 2,353,232 | 224,663 |
Juniper Networks Inc. | 7,723,034 | 214,623 | |
* | SolarEdge Technologies Inc. | 1,357,697 | 175,835 |
* | DXC Technology Co. | 4,930,567 | 102,704 |
237,214,133 | |||
Materials (2.4%) | |||
Linde plc | 11,727,897 | 4,366,882 | |
Air Products and Chemicals Inc. | 5,340,524 | 1,513,504 | |
Sherwin-Williams Co. | 5,685,642 | 1,450,123 | |
Freeport-McMoRan Inc. | 34,454,318 | 1,284,802 | |
Ecolab Inc. | 6,096,950 | 1,032,823 | |
Nucor Corp. | 5,977,323 | 934,554 | |
Corteva Inc. | 17,057,819 | 872,678 | |
Dow Inc. | 16,896,737 | 871,196 | |
DuPont de Nemours Inc. | 11,032,486 | 822,913 | |
PPG Industries Inc. | 5,660,043 | 734,674 | |
Newmont Corp. | 19,099,646 | 705,732 | |
Vulcan Materials Co. | 3,193,058 | 645,062 | |
Martin Marietta Materials Inc. | 1,485,344 | 609,704 | |
LyondellBasell Industries NV Class A | 6,155,174 | 582,895 | |
1 | Albemarle Corp. | 2,820,206 | 479,548 |
International Flavors & Fragrances Inc. | 6,134,572 | 418,194 |
Shares | Market Value ($000) | ||
Steel Dynamics Inc. | 3,741,875 | 401,204 | |
CF Industries Holdings Inc. | 4,637,022 | 397,578 | |
Ball Corp. | 7,571,909 | 376,930 | |
Avery Dennison Corp. | 1,936,705 | 353,778 | |
Packaging Corp. of America | 2,160,937 | 331,812 | |
Amcor plc | 35,364,833 | 323,942 | |
Celanese Corp. | 2,405,288 | 301,912 | |
International Paper Co. | 8,315,541 | 294,952 | |
Mosaic Co. | 7,985,926 | 284,299 | |
Westrock Co. | 6,159,509 | 220,510 | |
Eastman Chemical Co. | 2,849,362 | 218,603 | |
FMC Corp. | 2,997,811 | 200,763 | |
Sealed Air Corp. | 3,466,912 | 113,923 | |
21,145,490 | |||
Real Estate (2.4%) | |||
Prologis Inc. | 22,202,945 | 2,491,392 | |
American Tower Corp. | 11,203,124 | 1,842,354 | |
Equinix Inc. | 2,248,618 | 1,633,081 | |
Welltower Inc. | 12,467,101 | 1,021,305 | |
Public Storage | 3,803,120 | 1,002,198 | |
Crown Castle Inc. | 10,422,606 | 959,192 | |
Digital Realty Trust Inc. | 7,275,431 | 880,473 | |
Realty Income Corp. | 17,035,308 | 850,743 | |
Simon Property Group Inc. | 7,863,263 | 849,468 | |
* | CoStar Group Inc. | 9,813,597 | 754,567 |
VICI Properties Inc. | 21,705,723 | 631,637 | |
Extra Space Storage Inc. | 5,077,614 | 617,336 | |
AvalonBay Communities Inc. | 3,413,020 | 586,152 | |
* | CBRE Group Inc. Class A | 7,446,476 | 549,997 |
Weyerhaeuser Co. | 17,561,760 | 538,444 | |
SBA Communications Corp. | 2,604,836 | 521,410 | |
Equity Residential | 8,289,378 | 486,669 | |
Invitation Homes Inc. | 13,824,409 | 438,096 | |
Iron Mountain Inc. | 7,014,060 | 416,986 | |
Ventas Inc. | 9,670,183 | 407,405 | |
Alexandria Real Estate Equities Inc. | 3,742,588 | 374,633 | |
Mid-America Apartment Communities Inc. | 2,804,062 | 360,743 | |
Essex Property Trust Inc. | 1,542,504 | 327,150 | |
Host Hotels & Resorts Inc. | 17,102,305 | 274,834 | |
Kimco Realty Corp. | 14,898,241 | 262,060 | |
UDR Inc. | 7,285,007 | 259,856 | |
Camden Property Trust | 2,566,193 | 242,711 | |
Healthpeak Properties Inc. | 13,147,874 | 241,395 | |
Regency Centers Corp. | 3,949,098 | 234,734 | |
Boston Properties Inc. | 3,468,672 | 206,317 | |
Federal Realty Investment Trust | 1,763,059 | 159,786 | |
20,423,124 | |||
Utilities (2.4%) | |||
NextEra Energy Inc. | 48,635,736 | 2,786,341 | |
Southern Co. | 26,208,872 | 1,696,238 | |
Duke Energy Corp. | 18,522,220 | 1,634,771 | |
Sempra | 15,123,969 | 1,028,884 | |
American Electric Power Co. Inc. | 12,381,492 | 931,336 | |
Exelon Corp. | 23,917,730 | 903,851 | |
Dominion Energy Inc. | 20,110,239 | 898,324 | |
Constellation Energy Corp. | 7,728,684 | 843,045 | |
* | PG&E Corp. | 50,275,944 | 810,951 |
Shares | Market Value ($000) | ||
Xcel Energy Inc. | 13,255,336 | 758,470 | |
Consolidated Edison Inc. | 8,294,805 | 709,455 | |
Public Service Enterprise Group Inc. | 11,994,768 | 682,622 | |
WEC Energy Group Inc. | 7,580,635 | 610,620 | |
Edison International | 9,211,647 | 583,005 | |
American Water Works Co. Inc. | 4,678,599 | 579,351 | |
DTE Energy Co. | 4,955,005 | 491,933 | |
Eversource Energy | 8,389,894 | 487,872 | |
Ameren Corp. | 6,314,604 | 472,522 | |
Entergy Corp. | 5,082,064 | 470,091 | |
FirstEnergy Corp. | 12,400,621 | 423,853 | |
PPL Corp. | 17,714,234 | 417,347 | |
CenterPoint Energy Inc. | 15,169,432 | 407,299 | |
Atmos Energy Corp. | 3,568,138 | 377,973 | |
CMS Energy Corp. | 7,011,289 | 372,370 | |
Alliant Energy Corp. | 6,081,534 | 294,650 | |
Evergy Inc. | 5,520,736 | 279,901 | |
NiSource Inc. | 9,932,522 | 245,135 | |
AES Corp. | 16,094,193 | 244,632 | |
NRG Energy Inc. | 5,506,713 | 212,119 | |
Pinnacle West Capital Corp. | 2,723,342 | 200,656 | |
20,855,617 | |||
Total Common Stocks (Cost $562,286,127) | 862,987,348 | ||
Temporary Cash Investments (0.5%) | |||
Money Market Fund (0.5%) | |||
3,4 | Vanguard Market Liquidity Fund, 5.391% (Cost $4,017,697) | 40,190,389 | 4,018,637 |
Total Investments (100.1%) (Cost $566,303,824) | 867,005,985 | ||
Other Assets and Liabilities—Net (-0.1%) | (482,833) | ||
Net Assets (100%) | 866,523,152 | ||
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 $23,290,000. |
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 $24,719,000 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 | December 2023 | 12,770 | 2,761,832 | (113,833) |
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) |
Bank of New York Mellon Corp. | 8/30/24 | BANA | 17,060 | (5.880) | — | (85) |
Bank of New York Mellon Corp. | 8/30/24 | BANA | 17,060 | (5.875) | — | (47) |
Bank of New York Mellon Corp. | 8/30/24 | BANA | 17,060 | (5.875) | — | (44) |
Bank of New York Mellon Corp. | 8/30/24 | BANA | 14,928 | (5.875) | — | (44) |
Bank of New York Mellon Corp. | 8/30/24 | BANA | 14,075 | (5.876) | — | (44) |
Citigroup Inc. | 8/29/25 | BANA | 24,678 | (5.930) | — | (118) |
Fidelity National Information Services Inc. | 8/30/24 | BANA | 30,951 | (5.873) | — | (48) |
Fidelity National Information Services Inc. | 8/30/24 | BANA | 16,581 | (5.872) | — | (23) |
Global Payments Inc. | 8/30/24 | BANA | 156,353 | (5.930) | — | (481) |
Goldman Sachs Group Inc. | 8/29/25 | BANA | 210,644 | (6.030) | 754 | — |
Invesco Ltd. | 8/30/24 | BANA | 3,630 | (5.880) | 31 | — |
Kroger Co. | 1/31/24 | GSI | 46,320 | (5.324) | — | (1,652) |
Netflix Inc. | 8/30/24 | BANA | 37,760 | (5.328) | — | (161) |
VICI Properties Inc. | 8/30/24 | BANA | 77,115 | (5.980) | 706 | — |
Visa Inc. Class A | 8/30/24 | BANA | 57,503 | (5.228) | — | (223) |
1,491 | (2,970) |
1 | Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
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 or indexes 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 September 30, 2023, based on the inputs used to value them:
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 862,987,348 | — | — | 862,987,348 |
Temporary Cash Investments | 4,018,637 | — | — | 4,018,637 |
Total | 867,005,985 | — | — | 867,005,985 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 1,491 | — | 1,491 |
Liabilities | ||||
Futures Contracts1 | 113,833 | — | — | 113,833 |
Swap Contracts | — | 2,970 | — | 2,970 |
Total | 113,833 | 2,970 | — | 116,803 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |