UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-01027
Name of Registrant: | Vanguard World Fund |
Address of Registrant: | P.O. Box 2600 |
Valley Forge, PA 19482 |
Name and address of agent for service: | Anne E. Robinson, Esquire |
P.O. Box 876 | |
Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: August 31
Date of reporting period: September 1, 2021—February 28, 2022
Item 1: Reports to Shareholders
About Your Fund’s Expenses | 1 |
Financial Statements | 4 |
Trustees Approve Advisory Arrangement | 19 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
U.S. Growth Fund | |||
Investor Shares | $1,000.00 | $801.70 | $1.61 |
Admiral™ Shares | 1,000.00 | 802.00 | 1.16 |
Based on Hypothetical 5% Yearly Return | |||
U.S. Growth Fund | |||
Investor Shares | $1,000.00 | $1,023.01 | $1.81 |
Admiral Shares | 1,000.00 | 1,023.51 | 1.30 |
Communication Services | 12.1% |
Consumer Discretionary | 20.9 |
Consumer Staples | 2.4 |
Energy | 0.1 |
Financials | 3.6 |
Health Care | 10.1 |
Industrials | 3.9 |
Information Technology | 46.1 |
Materials | 0.2 |
Real Estate | 0.6 |
Utilities | 0.0 |
Shares | Market Value• ($000) | ||
Common Stocks (97.4%) | |||
Communication Services (11.8%) | |||
* | Alphabet Inc. Class C | 631,222 | 1,702,923 |
* | Alphabet Inc. Class A | 277,044 | 748,335 |
* | Netflix Inc. | 1,752,348 | 691,336 |
* | Meta Platforms Inc. Class A | 2,632,963 | 555,634 |
* | Snap Inc. Class A | 10,549,504 | 421,347 |
* | Match Group Inc. | 2,445,768 | 272,679 |
* | Roku Inc. | 1,574,264 | 219,657 |
* | ZoomInfo Technologies Inc. Class A | 3,696,971 | 202,187 |
* | Spotify Technology SA | 649,388 | 101,428 |
* | Pinterest Inc. Class A | 3,016,661 | 80,696 |
* | Roblox Corp. Class A | 780,391 | 40,245 |
* | Playtika Holding Corp. | 434,418 | 8,949 |
Nexstar Media Group Inc. Class A | 48,041 | 8,890 | |
* | Altice USA Inc. Class A | 318,925 | 3,687 |
* | Take-Two Interactive Software Inc. | 12,257 | 1,986 |
* | Madison Square Garden Sports Corp. | 8,718 | 1,508 |
5,061,487 | |||
Consumer Discretionary (20.4%) | |||
* | Amazon.com Inc. | 926,122 | 2,844,361 |
* | Tesla Inc. | 2,351,879 | 2,047,146 |
* | Airbnb Inc. Class A | 2,442,401 | 369,999 |
* | Wayfair Inc. Class A | 2,553,077 | 359,652 |
LVMH Moet Hennessy Louis Vuitton SE | 443,843 | 326,182 | |
* | MercadoLibre Inc. | 280,205 | 315,693 |
* | Lululemon Athletica Inc. | 881,110 | 281,902 |
Home Depot Inc. | 766,653 | 242,132 | |
NIKE Inc. Class B | 1,571,448 | 214,581 | |
*,1 | Chewy Inc. Class A | 3,496,598 | 164,830 |
* | Carvana Co. Class A | 999,258 | 150,358 |
*,1 | Rivian Automotive Inc. Class A | 2,104,379 | 142,172 |
TJX Cos. Inc. | 2,096,693 | 138,591 | |
* | Chegg Inc. | 4,094,066 | 128,021 |
* | DoorDash Inc. Class A | 1,193,520 | 125,260 |
* | Coursera Inc. | 4,971,522 | 101,071 |
Lowe's Cos. Inc. | 437,474 | 96,708 | |
* | Peloton Interactive Inc. Class A | 2,646,938 | 76,920 |
* | Hilton Worldwide Holdings Inc. | 510,885 | 76,050 |
*,1 | Duolingo Inc. | 545,595 | 47,079 |
Shares | Market Value• ($000) | ||
* | Boyd Gaming Corp. | 642,616 | 45,587 |
McDonald's Corp. | 153,314 | 37,527 | |
* | Burlington Stores Inc. | 147,609 | 33,343 |
* | Vroom Inc. | 5,437,653 | 33,061 |
* | O'Reilly Automotive Inc. | 50,283 | 32,646 |
Tapestry Inc. | 747,308 | 30,565 | |
Target Corp. | 152,058 | 30,377 | |
Bath & Body Works Inc. | 532,836 | 28,438 | |
H&R Block Inc. | 1,126,450 | 27,947 | |
* | AutoZone Inc. | 11,365 | 21,177 |
Tempur Sealy International Inc. | 603,101 | 19,908 | |
Starbucks Corp. | 204,310 | 18,754 | |
Toll Brothers Inc. | 335,959 | 18,229 | |
Yum! Brands Inc. | 138,778 | 17,011 | |
* | Etsy Inc. | 89,240 | 13,822 |
Best Buy Co. Inc. | 118,687 | 11,470 | |
* | Victoria's Secret & Co. | 201,785 | 10,822 |
* | Ulta Beauty Inc. | 28,157 | 10,545 |
* | Six Flags Entertainment Corp. | 206,081 | 8,998 |
Wendy's Co. | 319,128 | 7,257 | |
* | frontdoor Inc. | 228,404 | 6,864 |
* | NVR Inc. | 1,237 | 6,134 |
Columbia Sportswear Co. | 51,532 | 4,778 | |
PulteGroup Inc. | 90,434 | 4,491 | |
Tractor Supply Co. | 19,599 | 3,994 | |
Travel + Leisure Co. | 67,075 | 3,760 | |
* | Expedia Group Inc. | 17,254 | 3,384 |
* | Booking Holdings Inc. | 1,096 | 2,381 |
Williams-Sonoma Inc. | 14,714 | 2,132 | |
* | Marriott International Inc. Class A | 10,814 | 1,840 |
* | Deckers Outdoor Corp. | 5,310 | 1,533 |
8,747,483 | |||
Consumer Staples (2.3%) | |||
Costco Wholesale Corp. | 575,838 | 299,004 | |
Estee Lauder Cos. Inc. Class A | 916,316 | 271,532 | |
Constellation Brands Inc. Class A | 882,603 | 190,307 | |
Altria Group Inc. | 1,301,049 | 66,731 | |
* | Herbalife Nutrition Ltd. | 911,999 | 32,449 |
Hershey Co. | 157,870 | 31,931 | |
* | Darling Ingredients Inc. | 420,045 | 30,445 |
PepsiCo Inc. | 174,617 | 28,592 | |
Coca-Cola Co. | 392,820 | 24,449 |
Shares | Market Value• ($000) | ||
Albertsons Cos. Inc. Class A | 386,252 | 11,259 | |
* | Pilgrim's Pride Corp. | 305,955 | 7,214 |
993,913 | |||
Energy (0.1%) | |||
EOG Resources Inc. | 407,000 | 46,772 | |
Occidental Petroleum Corp. | 56,804 | 2,484 | |
49,256 | |||
Financials (3.5%) | |||
MarketAxess Holdings Inc. | 840,638 | 320,645 | |
S&P Global Inc. | 613,030 | 230,315 | |
First Republic Bank | 1,036,157 | 179,525 | |
American Express Co. | 904,082 | 175,880 | |
Blackstone Inc. | 1,104,325 | 140,768 | |
Marsh & McLennan Cos. Inc. | 667,474 | 103,732 | |
* | Coinbase Global Inc. Class A | 345,237 | 65,861 |
*,1 | Lemonade Inc. | 1,982,279 | 50,449 |
Progressive Corp. | 413,985 | 43,853 | |
Goldman Sachs Group Inc. | 118,205 | 40,342 | |
SLM Corp. | 2,005,764 | 39,514 | |
Synchrony Financial | 686,120 | 29,352 | |
Discover Financial Services | 218,737 | 27,001 | |
Everest Re Group Ltd. | 33,331 | 9,940 | |
* | Upstart Holdings Inc. | 56,609 | 8,944 |
* | Arch Capital Group Ltd. | 165,870 | 7,814 |
Primerica Inc. | 52,417 | 6,809 | |
Ameriprise Financial Inc. | 18,727 | 5,614 | |
* | Credit Acceptance Corp. | 5,034 | 2,769 |
Raymond James Financial Inc. | 23,395 | 2,565 | |
1,491,692 | |||
Health Care (9.8%) | |||
* | Illumina Inc. | 1,394,104 | 455,314 |
* | Moderna Inc. | 2,864,488 | 439,985 |
* | ABIOMED Inc. | 1,227,054 | 381,295 |
UnitedHealth Group Inc. | 513,786 | 244,495 | |
Eli Lilly & Co. | 861,171 | 215,250 | |
Danaher Corp. | 783,916 | 215,114 | |
* | Boston Scientific Corp. | 4,104,784 | 181,308 |
* | Alnylam Pharmaceuticals Inc. | 984,554 | 155,412 |
* | Novocure Ltd. | 1,771,882 | 145,046 |
* | Intuitive Surgical Inc. | 455,541 | 132,257 |
* | Penumbra Inc. | 565,961 | 125,496 |
* | Align Technology Inc. | 237,684 | 121,566 |
Zoetis Inc. | 578,250 | 111,978 | |
* | 10X Genomics Inc. Class A | 1,359,625 | 110,769 |
* | Denali Therapeutics Inc. | 3,342,326 | 108,826 |
* | Teladoc Health Inc. | 1,422,742 | 108,000 |
* | Seagen Inc. | 809,593 | 104,332 |
*,1 | Ginkgo Bioworks Holdings Inc. | 18,079,672 | 81,359 |
HCA Healthcare Inc. | 275,185 | 68,882 | |
* | Mettler-Toledo International Inc. | 44,993 | 63,383 |
AbbVie Inc. | 385,684 | 56,993 | |
Thermo Fisher Scientific Inc. | 90,634 | 49,305 | |
* | IQVIA Holdings Inc. | 197,665 | 45,487 |
Shares | Market Value• ($000) | ||
Cigna Corp. | 187,646 | 44,618 | |
McKesson Corp. | 149,850 | 41,203 | |
* | Avantor Inc. | 1,151,335 | 39,940 |
Sartorius Stedim Biotech | 93,586 | 35,887 | |
* | Regeneron Pharmaceuticals Inc. | 56,131 | 34,709 |
* | Veeva Systems Inc. Class A | 151,500 | 34,701 |
*,1 | Recursion Pharmaceuticals Inc. Class A | 3,162,093 | 34,625 |
* | Laboratory Corp. of America Holdings | 119,780 | 32,492 |
Agilent Technologies Inc. | 238,745 | 31,123 | |
* | Charles River Laboratories International Inc. | 99,784 | 29,053 |
*,1 | Sana Biotechnology Inc. | 2,456,509 | 15,869 |
Anthem Inc. | 33,408 | 15,095 | |
Bruker Corp. | 192,236 | 13,528 | |
* | Waters Corp. | 37,331 | 11,824 |
Johnson & Johnson | 69,931 | 11,509 | |
West Pharmaceutical Services Inc. | 25,035 | 9,691 | |
* | IDEXX Laboratories Inc. | 16,749 | 8,916 |
* | Biogen Inc. | 42,233 | 8,912 |
* | Tandem Diabetes Care Inc. | 75,000 | 8,447 |
* | DaVita Inc. | 72,953 | 8,227 |
* | Vertex Pharmaceuticals Inc. | 34,637 | 7,967 |
Bristol-Myers Squibb Co. | 115,295 | 7,917 | |
Abbott Laboratories | 31,020 | 3,742 | |
* | Incyte Corp. | 43,324 | 2,959 |
Chemed Corp. | 4,264 | 2,039 | |
Amgen Inc. | 7,464 | 1,690 | |
* | Centene Corp. | 20,264 | 1,674 |
Cardinal Health Inc. | 30,302 | 1,637 | |
* | Syneos Health Inc. | 18,588 | 1,472 |
* | Catalent Inc. | 14,039 | 1,433 |
4,224,751 | |||
Industrials (3.8%) | |||
* | Uber Technologies Inc. | 8,970,088 | 323,192 |
* | CoStar Group Inc. | 3,330,441 | 203,190 |
TransUnion | 2,237,388 | 203,065 | |
Watsco Inc. | 721,351 | 196,972 | |
* | Copart Inc. | 877,632 | 107,844 |
* | Airbus SE ADR | 2,208,706 | 69,994 |
United Parcel Service Inc. Class B | 292,701 | 61,590 | |
Northrop Grumman Corp. | 131,152 | 57,988 | |
Union Pacific Corp. | 172,426 | 42,408 | |
Allison Transmission Holdings Inc. | 981,881 | 39,216 | |
* | United Rentals Inc. | 121,472 | 39,068 |
Robert Half International Inc. | 314,023 | 37,774 | |
Deere & Co. | 87,211 | 31,398 | |
Caterpillar Inc. | 150,949 | 28,315 | |
IDEX Corp. | 142,695 | 27,383 | |
WW Grainger Inc. | 53,134 | 25,348 | |
Allegion plc | 208,596 | 23,888 | |
AGCO Corp. | 173,125 | 20,803 | |
Landstar System Inc. | 102,634 | 15,848 | |
Old Dominion Freight Line Inc. | 47,624 | 14,955 |
Shares | Market Value• ($000) | ||
Booz Allen Hamilton Holding Corp. Class A | 177,756 | 14,343 | |
Honeywell International Inc. | 62,970 | 11,949 | |
Lockheed Martin Corp. | 22,728 | 9,859 | |
FedEx Corp. | 43,829 | 9,742 | |
Nielsen Holdings plc | 547,169 | 9,532 | |
Expeditors International of Washington Inc. | 76,834 | 7,942 | |
Lincoln Electric Holdings Inc. | 22,463 | 2,863 | |
JB Hunt Transport Services Inc. | 13,474 | 2,734 | |
Donaldson Co. Inc. | 37,277 | 2,023 | |
Fortune Brands Home & Security Inc. | 17,271 | 1,501 | |
1,642,727 | |||
Information Technology (44.9%) | |||
Apple Inc. | 18,715,481 | 3,090,300 | |
Microsoft Corp. | 9,942,436 | 2,970,700 | |
NVIDIA Corp. | 6,089,590 | 1,484,946 | |
* | Trade Desk Inc. Class A | 11,572,307 | 987,349 |
* | Shopify Inc. Class A (XTSE) | 1,392,081 | 966,466 |
Mastercard Inc. Class A | 2,494,510 | 900,069 | |
* | Adobe Inc. | 1,468,592 | 686,831 |
Visa Inc. Class A | 2,800,084 | 605,154 | |
* | salesforce.com Inc. | 2,845,478 | 599,058 |
* | Snowflake Inc. Class A | 1,601,276 | 425,395 |
* | Workday Inc. Class A | 1,806,392 | 413,754 |
* | Advanced Micro Devices Inc. | 3,351,173 | 413,334 |
* | Cloudflare Inc. Class A | 2,907,643 | 338,508 |
*,2 | Adyen NV | 156,005 | 325,157 |
* | Block Inc. (XNYS) | 2,409,455 | 307,205 |
* | Twilio Inc. Class A | 1,507,204 | 263,459 |
* | Atlassian Corp. plc Class A | 858,257 | 262,386 |
* | ServiceNow Inc. | 405,776 | 235,318 |
* | Datadog Inc. Class A | 1,430,720 | 230,503 |
Global Payments Inc. | 1,634,808 | 218,051 | |
* | Affirm Holdings Inc. | 4,933,220 | 206,406 |
* | FleetCor Technologies Inc. | 860,924 | 201,628 |
Fidelity National Information Services Inc. | 2,050,150 | 195,236 | |
* | Crowdstrike Holdings Inc. Class A | 980,844 | 191,471 |
Microchip Technology Inc. | 2,521,956 | 177,369 | |
* | Zoom Video Communications Inc. Class A | 1,327,073 | 175,970 |
* | Autodesk Inc. | 722,997 | 159,226 |
Marvell Technology Inc. | 1,969,760 | 134,594 | |
* | Avalara Inc. | 1,201,675 | 124,866 |
Intuit Inc. | 255,154 | 121,037 | |
QUALCOMM Inc. | 693,205 | 119,224 | |
* | Appian Corp. Class A | 1,924,656 | 117,327 |
* | UiPath Inc. Class A | 3,244,536 | 112,618 |
* | Okta Inc. | 586,647 | 107,263 |
* | Ceridian HCM Holding Inc. | 1,378,831 | 100,531 |
Accenture plc Class A | 313,131 | 98,956 | |
* | PayPal Holdings Inc. | 804,992 | 90,103 |
*,1 | nCino Inc. | 1,751,887 | 80,464 |
* | RingCentral Inc. Class A | 595,415 | 77,904 |
Shares | Market Value• ($000) | ||
Oracle Corp. | 943,952 | 71,712 | |
Lam Research Corp. | 120,222 | 67,487 | |
* | Fortinet Inc. | 168,913 | 58,194 |
* | Cadence Design Systems Inc. | 358,958 | 54,357 |
Applied Materials Inc. | 399,542 | 53,619 | |
Texas Instruments Inc. | 304,692 | 51,795 | |
* | Synopsys Inc. | 161,283 | 50,383 |
Monolithic Power Systems Inc. | 107,311 | 49,224 | |
* | Gartner Inc. | 165,877 | 46,515 |
* | Teradata Corp. | 903,612 | 45,172 |
HP Inc. | 1,309,373 | 44,990 | |
*,1 | HashiCorp Inc. Class A | 858,024 | 43,236 |
Jabil Inc. | 731,380 | 42,281 | |
Broadcom Inc. | 71,767 | 42,159 | |
* | Dropbox Inc. Class A | 1,692,125 | 38,394 |
* | Manhattan Associates Inc. | 281,956 | 37,692 |
KLA Corp. | 87,359 | 30,445 | |
* | GoDaddy Inc. Class A | 357,648 | 29,831 |
* | ON Semiconductor Corp. | 475,757 | 29,787 |
* | SentinelOne Inc. Class A | 531,177 | 22,044 |
* | DocuSign Inc. Class A | 139,005 | 16,462 |
* | Nutanix Inc. Class A | 295,322 | 7,885 |
* | CommScope Holding Co. Inc. | 753,597 | 7,189 |
MKS Instruments Inc. | 47,504 | 7,154 | |
* | EPAM Systems Inc. | 29,606 | 6,151 |
* | Qualtrics International Inc. Class A | 190,569 | 5,780 |
Micron Technology Inc. | 64,382 | 5,721 | |
* | Fair Isaac Corp. | 11,813 | 5,566 |
* | Dell Technologies Inc. Class C | 38,075 | 1,940 |
NXP Semiconductors NV | 7,841 | 1,491 | |
19,290,792 | |||
Materials (0.2%) | |||
Louisiana-Pacific Corp. | 457,413 | 32,911 | |
Steel Dynamics Inc. | 377,050 | 26,612 | |
Olin Corp. | 269,130 | 13,863 | |
Westlake Corp. | 101,975 | 11,249 | |
LyondellBasell Industries NV Class A | 15,300 | 1,488 | |
Chemours Co. | 53,242 | 1,469 | |
87,592 | |||
Real Estate (0.6%) | |||
* | Redfin Corp. | 4,224,220 | 91,370 |
Equinix Inc. | 74,318 | 52,746 | |
Simon Property Group Inc. | 347,973 | 47,867 | |
Extra Space Storage Inc. | 199,921 | 37,615 | |
Iron Mountain Inc. | 742,806 | 36,531 | |
Lamar Advertising Co. Class A | 14,449 | 1,576 | |
267,705 | |||
Utilities (0.0%) | |||
NRG Energy Inc. | 219,691 | 8,313 | |
Total Common Stocks (Cost $27,011,241) | 41,865,711 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (2.9%) | |||
Money Market Fund (2.1%) | |||
3,4 | Vanguard Market Liquidity Fund, 0.138% | 9,083,154 | 908,224 |
Face Amount ($000) | |||
Repurchase Agreement (0.8%) | |||
Bank of America Securities LLC 0.050%, 3/1/22 (Dated 2/28/22, Repurchase Value $320,500,000, collateralized by Ginnie Mae 2.500%, 11/20/51, with a value of $326,910,000) | 320,500 | 320,500 | |
Total Temporary Cash Investments (Cost $1,228,595) | 1,228,724 | ||
Total Investments (100.3%) (Cost $28,239,836) | 43,094,435 | ||
Other Assets and Liabilities—Net (-0.3%) | (134,352) | ||
Net Assets (100%) | 42,960,083 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $338,709,000. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2022, the aggregate value was $325,157,000, representing 0.8% of net assets. |
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 $334,712,000 was received for securities on loan. |
ADR—American Depositary Receipt. |
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 | March 2022 | 1,764 | 385,258 | (11,350) |
E-mini S&P Mid-Cap 400 Index | March 2022 | 262 | 69,640 | (2,981) |
(14,331) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $27,331,741) | 42,186,211 |
Affiliated Issuers (Cost $908,095) | 908,224 |
Total Investments in Securities | 43,094,435 |
Investment in Vanguard | 1,520 |
Cash Collateral Pledged—Futures Contracts | 22,317 |
Receivables for Investment Securities Sold | 221,646 |
Receivables for Accrued Income | 13,804 |
Receivables for Capital Shares Issued | 22,534 |
Total Assets | 43,376,256 |
Liabilities | |
Due to Custodian | 8,817 |
Payables for Investment Securities Purchased | 31,072 |
Collateral for Securities on Loan | 334,712 |
Payables to Investment Advisor | 12,057 |
Payables for Capital Shares Redeemed | 26,124 |
Payables to Vanguard | 2,299 |
Variation Margin Payable—Futures Contracts | 1,092 |
Total Liabilities | 416,173 |
Net Assets | 42,960,083 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 27,953,801 |
Total Distributable Earnings (Loss) | 15,006,282 |
Net Assets | 42,960,083 |
Investor Shares—Net Assets | |
Applicable to 176,636,691 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 9,543,519 |
Net Asset Value Per Share—Investor Shares | $54.03 |
Admiral Shares—Net Assets | |
Applicable to 238,724,196 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 33,416,564 |
Net Asset Value Per Share—Admiral Shares | $139.98 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 76,194 |
Interest2 | 427 |
Securities Lending—Net | 16,854 |
Total Income | 93,475 |
Expenses | |
Investment Advisory Fees—Note B | |
Basic Fee | 32,958 |
Performance Adjustment | 22 |
The Vanguard Group—Note C | |
Management and Administrative—Investor Shares | 12,091 |
Management and Administrative—Admiral Shares | 23,604 |
Marketing and Distribution—Investor Shares | 588 |
Marketing and Distribution—Admiral Shares | 1,111 |
Custodian Fees | 87 |
Shareholders’ Reports—Investor Shares | 101 |
Shareholders’ Reports—Admiral Shares | 94 |
Trustees’ Fees and Expenses | 13 |
Other Expenses | 8 |
Total Expenses | 70,677 |
Net Investment Income | 22,798 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | 586,837 |
Futures Contracts | 34,486 |
Foreign Currencies | (58) |
Realized Net Gain (Loss) | 621,265 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (11,372,816) |
Futures Contracts | (35,965) |
Foreign Currencies | (21) |
Change in Unrealized Appreciation (Depreciation) | (11,408,802) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (10,764,739) |
1 | Dividends are net of foreign withholding taxes of $599,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $410,000, $2,000, $27,000, and ($43,000), respectively. Purchases and sales are for temporary cash investment purposes. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 22,798 | 24,995 | |
Realized Net Gain (Loss) | 621,265 | 6,798,229 | |
Change in Unrealized Appreciation (Depreciation) | (11,408,802) | 4,759,426 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (10,764,739) | 11,582,650 | |
Distributions | |||
Investor Shares | (1,376,778) | (441,153) | |
Admiral Shares | (4,883,415) | (1,285,189) | |
Total Distributions | (6,260,193) | (1,726,342) | |
Capital Share Transactions | |||
Investor Shares | (96,119) | (1,442,718) | |
Admiral Shares | 5,136,598 | 6,260,774 | |
Net Increase (Decrease) from Capital Share Transactions | 5,040,479 | 4,818,056 | |
Total Increase (Decrease) | (11,984,453) | 14,674,364 | |
Net Assets | |||
Beginning of Period | 54,944,536 | 40,270,172 | |
End of Period | 42,960,083 | 54,944,536 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $76.41 | $62.28 | $41.02 | $43.31 | $35.62 | $30.32 |
Investment Operations | ||||||
Net Investment Income (Loss)1 | .003 | (.013) | .113 | .176 | .134 | .151 |
Net Realized and Unrealized Gain (Loss) on Investments | (13.674) | 16.700 | 22.856 | .771 | 9.394 | 5.590 |
Total from Investment Operations | (13.671) | 16.687 | 22.969 | .947 | 9.528 | 5.741 |
Distributions | ||||||
Dividends from Net Investment Income | (.001) | (.019) | (.119) | (.132) | (.146) | (.121) |
Distributions from Realized Capital Gains | (8.708) | (2.538) | (1.590) | (3.105) | (1.692) | (.320) |
Total Distributions | (8.709) | (2.557) | (1.709) | (3.237) | (1.838) | (.441) |
Net Asset Value, End of Period | $54.03 | $76.41 | $62.28 | $41.02 | $43.31 | $35.62 |
Total Return2 | -19.83% | 27.52% | 58.01% | 3.70% | 27.64% | 19.24% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $9,544 | $13,405 | $12,410 | $8,819 | $4,582 | $4,113 |
Ratio of Total Expenses to Average Net Assets3 | 0.36% | 0.38% | 0.38% | 0.39% | 0.42% | 0.43% |
Ratio of Net Investment Income (Loss) to Average Net Assets | 0.01% | (0.02%) | 0.25% | 0.44% | 0.35% | 0.47% |
Portfolio Turnover Rate | 11% | 41% | 38% | 41% | 33% | 27% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Includes performance-based investment advisory fee increases (decreases) of 0.00%, 0.03%, 0.02%, 0.01%, 0.01% and (0.01%). |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $198.03 | $161.42 | $106.30 | $112.28 | $92.24 | $78.52 |
Investment Operations | ||||||
Net Investment Income1 | .099 | .138 | .410 | .572 | .476 | .502 |
Net Realized and Unrealized Gain (Loss) on Investments | (35.438) | 43.277 | 59.231 | 1.963 | 24.323 | 14.480 |
Total from Investment Operations | (35.339) | 43.415 | 59.641 | 2.535 | 24.799 | 14.982 |
Distributions | ||||||
Dividends from Net Investment Income | (.135) | (.224) | (.401) | (.464) | (.375) | (.433) |
Distributions from Realized Capital Gains | (22.576) | (6.581) | (4.120) | (8.051) | (4.384) | (.829) |
Total Distributions | (22.711) | (6.805) | (4.521) | (8.515) | (4.759) | (1.262) |
Net Asset Value, End of Period | $139.98 | $198.03 | $161.42 | $106.30 | $112.28 | $92.24 |
Total Return2 | -19.80% | 27.64% | 58.17% | 3.80% | 27.78% | 19.42% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $33,417 | $41,539 | $27,860 | $17,060 | $6,249 | $3,791 |
Ratio of Total Expenses to Average Net Assets3 | 0.26% | 0.28% | 0.28% | 0.28% | 0.30% | 0.30% |
Ratio of Net Investment Income to Average Net Assets | 0.11% | 0.08% | 0.35% | 0.55% | 0.47% | 0.60% |
Portfolio Turnover Rate | 11% | 41% | 38% | 41% | 33% | 27% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Includes performance-based investment advisory fee increases (decreases) of 0.00%, 0.03%, 0.02%, 0.01%, 0.01% and (0.01%). |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | The investment advisory firms Wellington Management Company llp, Jennison Associates LLC, and Baillie Gifford Overseas Ltd., each provide investment advisory services to a portion of the fund for a fee calculated at an annual percentage rate of average net assets managed by the advisor. The basic fees of Wellington Management Company llp and Jennison Associates LLC are subject to quarterly adjustments based on performance relative to the Russell 1000 Growth Index for the preceding three years. The basic fee of Baillie Gifford Overseas Ltd. is subject to quarterly adjustments based on performance relative to the S&P 500 Index for the preceding three years. |
C. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 41,178,485 | 687,226 | — | 41,865,711 |
Temporary Cash Investments | 908,224 | 320,500 | — | 1,228,724 |
Total | 42,086,709 | 1,007,726 | — | 43,094,435 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 14,331 | — | — | 14,331 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 28,505,570 |
Gross Unrealized Appreciation | 17,803,376 |
Gross Unrealized Depreciation | (3,228,842) |
Net Unrealized Appreciation (Depreciation) | 14,574,534 |
F. | During the six months ended February 28, 2022, the fund purchased $5,343,151,000 of investment securities and sold $6,753,774,000 of investment securities, other than temporary cash investments. |
G. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 681,136 | 10,195 | 2,627,798 | 40,047 | |
Issued in Lieu of Cash Distributions | 1,326,962 | 20,374 | 426,494 | 6,567 | |
Redeemed | (2,104,217) | (29,369) | (4,497,010) | (70,422) | |
Net Increase (Decrease)—Investor Shares | (96,119) | 1,200 | (1,442,718) | (23,808) | |
Admiral Shares | |||||
Issued | 3,988,790 | 22,069 | 11,750,262 | 69,089 | |
Issued in Lieu of Cash Distributions | 4,578,811 | 27,142 | 1,197,208 | 7,119 | |
Redeemed | (3,431,003) | (20,253) | (6,686,696) | (39,036) | |
Net Increase (Decrease)—Admiral Shares | 5,136,598 | 28,958 | 6,260,774 | 37,172 |
H. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
About Your Fund’s Expenses | 1 |
Financial Statements | 4 |
Trustees Approve Advisory Arrangements | 19 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
International Growth Fund | |||
Investor Shares | $1,000.00 | $779.70 | $1.94 |
Admiral™ Shares | 1,000.00 | 780.00 | 1.46 |
Based on Hypothetical 5% Yearly Return | |||
International Growth Fund | |||
Investor Shares | $1,000.00 | $1,022.61 | $2.21 |
Admiral Shares | 1,000.00 | 1,023.16 | 1.66 |
United States | 15.4% |
China | 13.7 |
Netherlands | 9.6 |
United Kingdom | 7.9 |
Japan | 7.5 |
Germany | 7.4 |
France | 5.7 |
Italy | 4.4 |
Switzerland | 4.2 |
Denmark | 4.0 |
Taiwan | 3.7 |
Belgium | 2.6 |
Hong Kong | 2.4 |
Sweden | 1.8 |
Canada | 1.7 |
India | 1.6 |
South Korea | 1.5 |
Norway | 1.1 |
Other | 3.8 |
Shares | Market Value• ($000) | ||
Common Stocks (98.5%) | |||
Australia (0.5%) | |||
WiseTech Global Ltd. | 8,313,097 | 266,152 | |
Austria (0.5%) | |||
Erste Group Bank AG | 7,472,952 | 265,640 | |
Belgium (2.6%) | |||
1 | Umicore SA | 15,240,533 | 623,485 |
* | Argenx SE | 1,978,464 | 572,851 |
UCB SA | 2,085,663 | 227,623 | |
1,423,959 | |||
Brazil (0.8%) | |||
B3 SA - Brasil Bolsa Balcao | 71,038,982 | 199,860 | |
Raia Drogasil SA | 38,373,335 | 173,722 | |
*,2 | NU Holdings Ltd. Class A | 9,286,453 | 71,041 |
444,623 | |||
Canada (1.7%) | |||
Toronto-Dominion Bank | 7,178,887 | 579,295 | |
Canadian National Railway Co. | 2,762,219 | 342,668 | |
921,963 | |||
China (13.6%) | |||
Tencent Holdings Ltd. | 45,291,800 | 2,444,005 | |
* | Alibaba Group Holding Ltd. | 91,287,832 | 1,201,702 |
*,3 | Meituan Class B | 49,232,008 | 1,093,697 |
* | NIO Inc. ADR | 30,557,076 | 697,924 |
Ping An Insurance Group Co. of China Ltd. Class H | 68,344,500 | 529,920 | |
* | Baidu Inc. ADR | 1,951,652 | 297,510 |
China Mengniu Dairy Co. Ltd. | 40,145,000 | 261,040 | |
*,3 | Wuxi Biologics Cayman Inc. | 31,161,000 | 257,746 |
* | JD.com Inc. Class A | 6,189,091 | 221,071 |
Shares | Market Value• ($000) | ||
* | Pinduoduo Inc. ADR | 2,838,422 | 147,200 |
*,2 | Full Truck Alliance Co. Ltd. ADR | 12,227,700 | 112,739 |
Shenzhen Inovance Technology Co. Ltd. Class A | 9,709,099 | 98,907 | |
* | Kingdee International Software Group Co. Ltd. | 33,194,000 | 82,044 |
7,445,505 | |||
Denmark (3.9%) | |||
Vestas Wind Systems A/S | 27,901,173 | 899,721 | |
* | Genmab A/S | 2,548,873 | 856,667 |
2 | Ambu A/S Class B | 13,909,666 | 256,505 |
Novozymes A/S Class B | 2,228,941 | 146,291 | |
2,159,184 | |||
France (5.7%) | |||
Kering SA | 2,417,036 | 1,676,537 | |
L'Oreal SA (XPAR) | 2,064,302 | 816,069 | |
Schneider Electric SE | 3,069,057 | 475,508 | |
Legrand SA | 1,491,167 | 140,677 | |
3,108,791 | |||
Germany (7.3%) | |||
*,1,3 | Zalando SE | 14,169,516 | 937,834 |
*,1,2 | HelloFresh SE | 10,336,074 | 563,791 |
Sartorius AG Preference Shares | 1,154,927 | 509,916 | |
*,2,3 | Delivery Hero SE | 7,334,216 | 393,119 |
Bayerische Motoren Werke AG | 3,764,104 | 362,510 | |
SAP SE | 2,805,949 | 316,522 | |
Infineon Technologies AG | 8,499,026 | 287,572 | |
Siemens AG (Registered) | 1,546,952 | 217,938 |
Shares | Market Value• ($000) | ||
Daimler AG (Registered) | 1,816,748 | 141,923 | |
Knorr-Bremse AG | 1,470,924 | 129,677 | |
*,1,2 | Jumia Technologies AG ADR | 6,724,836 | 63,281 |
*,2 | CureVac NV | 2,731,786 | 45,949 |
* | MorphoSys AG | 664,989 | 18,432 |
*,1,2 | Home24 SE | 2,066,394 | 17,962 |
4,006,426 | |||
Hong Kong (2.4%) | |||
AIA Group Ltd. | 72,902,400 | 757,007 | |
Hong Kong Exchanges & Clearing Ltd. | 8,113,043 | 393,131 | |
BOC Hong Kong Holdings Ltd. | 46,322,500 | 166,533 | |
1,316,671 | |||
India (1.6%) | |||
Housing Development Finance Corp. Ltd. | 11,680,736 | 369,179 | |
HDFC Bank Ltd. | 16,087,955 | 305,394 | |
Larsen & Toubro Ltd. | 4,952,332 | 120,058 | |
*,4,5 | ANI Technologies Private Ltd. PP (Acquired 12/1/15, Cost $51,748) | 166,185 | 49,923 |
* | One 97 Communications Ltd. | 1,070,978 | 11,430 |
855,984 | |||
Indonesia (0.3%) | |||
Bank Central Asia Tbk PT | 344,986,600 | 194,768 | |
Israel (0.2%) | |||
* | Wix.com Ltd. | 1,136,985 | 104,125 |
Italy (4.4%) | |||
Ferrari NV | 4,470,853 | 960,734 | |
EXOR NV | 7,925,234 | 600,460 | |
Intesa Sanpaolo SpA | 117,497,120 | 300,361 | |
Stellantis NV | 13,737,294 | 249,633 | |
FinecoBank Banca Fineco SpA | 10,070,428 | 167,832 | |
Stellantis NV (XNYS) | 6,314,386 | 115,167 | |
2,394,187 | |||
Japan (7.4%) | |||
Nidec Corp. | 10,933,300 | 950,471 | |
M3 Inc. | 23,057,700 | 867,512 | |
SMC Corp. | 1,065,700 | 636,617 | |
Sony Group Corp. | 3,672,500 | 375,227 | |
Recruit Holdings Co. Ltd. | 6,637,000 | 280,149 | |
Bridgestone Corp. | 6,468,600 | 266,383 |
Shares | Market Value• ($000) | ||
Murata Manufacturing Co. Ltd. | 2,099,000 | 142,659 | |
Toyota Motor Corp. | 6,760,600 | 123,693 | |
Sekisui Chemical Co. Ltd. | 7,231,800 | 118,428 | |
Kubota Corp. | 6,581,100 | 118,076 | |
SBI Holdings Inc. | 4,470,400 | 117,267 | |
MISUMI Group Inc. | 2,129,800 | 68,276 | |
4,064,758 | |||
Netherlands (9.5%) | |||
ASML Holding NV | 4,997,644 | 3,343,543 | |
*,3 | Adyen NV | 898,378 | 1,872,465 |
5,216,008 | |||
Norway (1.1%) | |||
Equinor ASA | 14,232,039 | 447,391 | |
DNB Bank ASA | 5,992,675 | 134,166 | |
581,557 | |||
Singapore (0.5%) | |||
* | Sea Ltd. ADR | 1,919,009 | 279,408 |
South Korea (1.5%) | |||
*,2 | Coupang Inc. | 13,054,440 | 346,204 |
Samsung Electronics Co. Ltd. | 4,669,209 | 281,336 | |
Samsung SDI Co. Ltd. | 390,006 | 179,730 | |
807,270 | |||
Spain (0.9%) | |||
Iberdrola SA (XMAD) | 27,185,886 | 308,440 | |
Banco Bilbao Vizcaya Argentaria SA | 32,618,996 | 193,552 | |
501,992 | |||
Sweden (1.8%) | |||
Atlas Copco AB Class A | 11,846,223 | 607,523 | |
* | Kinnevik AB Class B | 9,975,592 | 253,982 |
Svenska Handelsbanken AB Class A | 13,797,577 | 131,171 | |
992,676 | |||
Switzerland (4.1%) | |||
Nestle SA (Registered) | 4,822,573 | 628,361 | |
Roche Holding AG | 1,434,917 | 543,451 | |
Lonza Group AG (Registered) | 318,086 | 220,084 | |
Temenos AG (Registered) | 2,177,560 | 218,876 | |
Cie Financiere Richemont SA Class A (Registered) | 1,586,066 | 212,385 | |
Alcon Inc. | 2,351,053 | 181,637 |
Shares | Market Value• ($000) | ||
Chocoladefabriken Lindt & Spruengli AG Ptg. Ctf. | 12,697 | 134,686 | |
Sika AG (Registered) | 349,329 | 115,920 | |
2,255,400 | |||
Taiwan (3.7%) | |||
Taiwan Semiconductor Manufacturing Co. Ltd. | 94,533,000 | 2,032,418 | |
United Kingdom (7.3%) | |||
* | Ocado Group plc | 27,919,029 | 513,401 |
AstraZeneca plc | 3,749,821 | 455,777 | |
Diageo plc | 7,977,195 | 395,209 | |
Shell plc | 14,434,126 | 382,478 | |
Reckitt Benckiser Group plc | 3,687,069 | 312,211 | |
Shell plc (XETR) | 11,500,265 | 302,908 | |
GlaxoSmithKline plc | 12,043,342 | 251,154 | |
National Grid plc | 16,084,513 | 243,188 | |
Barclays plc | 96,627,102 | 236,114 | |
HSBC Holdings plc | 30,767,877 | 213,599 | |
Bunzl plc | 4,655,108 | 183,960 | |
Burberry Group plc | 6,088,919 | 157,862 | |
RELX plc | 4,700,464 | 143,143 | |
Vodafone Group plc | 68,241,202 | 120,128 | |
* | Whitbread plc | 2,779,511 | 108,499 |
4,019,631 | |||
United States (15.2%) | |||
* | MercadoLibre Inc. | 2,078,636 | 2,341,895 |
* | Tesla Inc. | 1,988,177 | 1,730,569 |
* | Moderna Inc. | 9,903,909 | 1,521,240 |
* | Illumina Inc. | 3,890,075 | 1,270,499 |
* | Spotify Technology SA | 6,626,955 | 1,035,064 |
* | Booking Holdings Inc. | 88,611 | 192,485 |
* | Lululemon Athletica Inc. | 409,167 | 130,909 |
*,2 | Oatly Group AB ADR | 13,654,735 | 92,170 |
*,1 | Meli Kaszek Pioneer Corp. Class A | 1,884,672 | 19,016 |
8,333,847 | |||
Total Common Stocks (Cost $35,839,625) | 53,992,943 |
Shares | Market Value• ($000) | ||
Preferred Stock (0.5%) | |||
*,1,4,5,6 | You & Mr. Jones Class A PP (Acquired 9/23/15) (Cost $44,800) | 33,633,606 | 262,006 |
Temporary Cash Investments (1.8%) | |||
Money Market Fund (1.8%) | |||
7,8 | Vanguard Market Liquidity Fund, 0.138% (Cost $962,558) | 9,627,457 | 962,649 |
Total Investments (100.8%) (Cost $36,846,983) | 55,217,598 | ||
Other Assets and Liabilities—Net (-0.8%) | (442,045) | ||
Net Assets (100%) | 54,775,553 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Considered an affiliated company of the fund as the fund owns more than 5% of the outstanding voting securities of such company. |
2 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $414,862,000. |
3 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2022, the aggregate value was $4,554,861,000, representing 8.3% of net assets. |
4 | Restricted securities totaling $311,929,000, representing 0.6% of net assets. |
5 | Security value determined using significant unobservable inputs. |
6 | Perpetual security with no stated maturity date. |
7 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
8 | Collateral of $429,989,000 was received for securities on loan. |
ADR—American Depositary Receipt. | |
PP—Private Placement. | |
Ptg. Ctf.—Participating Certificates. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
MSCI EAFE Index | March 2022 | 2,258 | 243,841 | (7,914) |
MSCI Emerging Markets Index | March 2022 | 1,837 | 107,970 | (3,672) |
(11,586) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $34,055,766) | 51,767,574 |
Affiliated Issuers (Cost $2,791,217) | 3,450,024 |
Total Investments in Securities | 55,217,598 |
Investment in Vanguard | 1,971 |
Cash Collateral Pledged—Futures Contracts | 14,059 |
Foreign Currency, at Value (Cost $278) | 277 |
Receivables for Investment Securities Sold | 119,395 |
Receivables for Accrued Income | 160,483 |
Receivables for Capital Shares Issued | 24,517 |
Other Assets | 421 |
Total Assets | 55,538,721 |
Liabilities | |
Due to Custodian | 48,705 |
Payables for Investment Securities Purchased | 196,090 |
Collateral for Securities on Loan | 429,989 |
Payables to Investment Advisor | 27,444 |
Payables for Capital Shares Redeemed | 40,197 |
Payables to Vanguard | 3,261 |
Variation Margin Payable—Futures Contracts | 5,751 |
Deferred Foreign Capital Gains Taxes | 11,731 |
Total Liabilities | 763,168 |
Net Assets | 54,775,553 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 35,362,326 |
Total Distributable Earnings (Loss) | 19,413,227 |
Net Assets | 54,775,553 |
Investor Shares—Net Assets | |
Applicable to 208,384,668 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 7,763,591 |
Net Asset Value Per Share—Investor Shares | $37.26 |
Admiral Shares—Net Assets | |
Applicable to 396,813,942 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 47,011,962 |
Net Asset Value Per Share—Admiral Shares | $118.47 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends—Unaffiliated Issuers1 | 302,873 |
Dividends—Affiliated Issuers | 11,644 |
Interest—Unaffiliated Issuers | 14 |
Interest—Affiliated Issuers | 349 |
Securities Lending—Net | 1,617 |
Total Income | 316,497 |
Expenses | |
Investment Advisory Fees—Note B | |
Basic Fee | 46,570 |
Performance Adjustment | 11,638 |
The Vanguard Group—Note C | |
Management and Administrative—Investor Shares | 11,445 |
Management and Administrative—Admiral Shares | 38,936 |
Marketing and Distribution—Investor Shares | 506 |
Marketing and Distribution—Admiral Shares | 1,614 |
Custodian Fees | 1,706 |
Shareholders’ Reports—Investor Shares | 85 |
Shareholders’ Reports—Admiral Shares | 224 |
Trustees’ Fees and Expenses | 17 |
Other Expenses | 8 |
Total Expenses | 112,749 |
Net Investment Income | 203,748 |
Realized Net Gain (Loss) | |
Capital Gains Distributions Received – Affiliated Issuers | 13 |
Investment Securities Sold—Unaffiliated Issuers | 1,532,995 |
Investment Securities Sold—Affiliated Issuers | 443 |
Futures Contracts | (17,686) |
Foreign Currencies | (2,342) |
Realized Net Gain (Loss) | 1,513,423 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities—Unaffiliated Issuers2 | (15,883,230) |
Investment Securities—Affiliated Issuers | (1,597,322) |
Futures Contracts | (17,200) |
Foreign Currencies | (1,701) |
Change in Unrealized Appreciation (Depreciation) | (17,499,453) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (15,782,282) |
1 | Dividends are net of foreign withholding taxes of $24,317,000. |
2 | The change in unrealized appreciation (depreciation) is net of the change in deferred foreign capital gains taxes of ($11,351,000). |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 203,748 | 568,269 | |
Realized Net Gain (Loss) | 1,513,423 | 7,792,865 | |
Change in Unrealized Appreciation (Depreciation) | (17,499,453) | 8,534,737 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (15,782,282) | 16,895,871 | |
Distributions | |||
Investor Shares | (1,151,429) | (233,496) | |
Admiral Shares | (7,014,597) | (1,364,844) | |
Total Distributions | (8,166,026) | (1,598,340) | |
Capital Share Transactions | |||
Investor Shares | (80,852) | (756,373) | |
Admiral Shares | 5,215,947 | 2,483,624 | |
Net Increase (Decrease) from Capital Share Transactions | 5,135,095 | 1,727,251 | |
Total Increase (Decrease) | (18,813,213) | 17,024,782 | |
Net Assets | |||
Beginning of Period | 73,588,766 | 56,563,984 | |
End of Period | 54,775,553 | 73,588,766 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $54.50 | $42.94 | $28.30 | $31.23 | $28.38 | $22.38 |
Investment Operations | ||||||
Net Investment Income1 | .123 | .374 | .238 | .342 | .381 | .240 |
Net Realized and Unrealized Gain (Loss) on Investments | (11.294) | 12.336 | 14.791 | (1.941) | 2.722 | 6.028 |
Total from Investment Operations | (11.171) | 12.710 | 15.029 | (1.599) | 3.103 | 6.268 |
Distributions | ||||||
Dividends from Net Investment Income | (.407) | (.106) | (.389) | (.403) | (.253) | (.268) |
Distributions from Realized Capital Gains | (5.662) | (1.044) | — | (.928) | — | — |
Total Distributions | (6.069) | (1.150) | (.389) | (1.331) | (.253) | (.268) |
Net Asset Value, End of Period | $37.26 | $54.50 | $42.94 | $28.30 | $31.23 | $28.38 |
Total Return2 | -22.03% | 29.89% | 53.60% | -4.58% | 10.97% | 28.43% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $7,764 | $11,247 | $9,658 | $7,056 | $8,074 | $7,731 |
Ratio of Total Expenses to Average Net Assets3 | 0.44% | 0.43% | 0.44% | 0.43% | 0.45% | 0.45% |
Ratio of Net Investment Income to Average Net Assets | 0.51% | 0.75% | 0.74% | 1.23% | 1.25% | 1.01% |
Portfolio Turnover Rate | 8% | 25% | 20% | 13% | 16% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Includes performance-based investment advisory fee increases (decreases) of 0.04%, 0.03%, 0.04%, 0.03%, 0.03%, and 0.03%. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $173.47 | $136.68 | $90.05 | $99.45 | $90.24 | $71.19 |
Investment Operations | ||||||
Net Investment Income1 | .475 | 1.367 | .863 | 1.203 | 1.365 | .879 |
Net Realized and Unrealized Gain (Loss) on Investments | (35.944) | 39.246 | 47.105 | (6.230) | 8.652 | 19.127 |
Total from Investment Operations | (35.469) | 40.613 | 47.968 | (5.027) | 10.017 | 20.006 |
Distributions | ||||||
Dividends from Net Investment Income | (1.502) | (.497) | (1.338) | (1.418) | (.807) | (.956) |
Distributions from Realized Capital Gains | (18.029) | (3.326) | — | (2.955) | — | — |
Total Distributions | (19.531) | (3.823) | (1.338) | (4.373) | (.807) | (.956) |
Net Asset Value, End of Period | $118.47 | $173.47 | $136.68 | $90.05 | $99.45 | $90.24 |
Total Return2 | -22.00% | 30.01% | 53.81% | -4.50% | 11.14% | 28.57% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $47,012 | $62,342 | $46,906 | $28,549 | $29,170 | $23,101 |
Ratio of Total Expenses to Average Net Assets3 | 0.33% | 0.32% | 0.33% | 0.32% | 0.32% | 0.32% |
Ratio of Net Investment Income to Average Net Assets | 0.63% | 0.86% | 0.83% | 1.34% | 1.38% | 1.14% |
Portfolio Turnover Rate | 8% | 25% | 20% | 13% | 16% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Includes performance-based investment advisory fee increases (decreases) of 0.04%, 0.03%, 0.04%, 0.03%, 0.03%, and 0.03%. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | The investment advisory firms Baillie Gifford Overseas Ltd. and Schroder Investment Management North America Inc. each provide investment advisory services to a portion of the |
C. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
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 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks—North and South America | 9,326,851 | 373,582 | — | 9,700,433 |
Common Stocks—Other | 2,094,340 | 42,148,247 | 49,923 | 44,292,510 |
Preferred Stock | — | — | 262,006 | 262,006 |
Temporary Cash Investments | 962,649 | — | — | 962,649 |
Total | 12,383,840 | 42,521,829 | 311,929 | 55,217,598 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 11,586 | — | — | 11,586 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 36,909,959 |
Gross Unrealized Appreciation | 20,979,512 |
Gross Unrealized Depreciation | (2,683,459) |
Net Unrealized Appreciation (Depreciation) | 18,296,053 |
F. | During the six months ended February 28, 2022, the fund purchased $5,314,125,000 of investment securities and sold $7,134,439,000 of investment securities, other than temporary cash investments. |
G. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 480,634 | 10,300 | 2,455,419 | 48,845 | |
Issued in Lieu of Cash Distributions | 1,096,647 | 25,374 | 223,098 | 4,530 | |
Redeemed | (1,658,133) | (33,651) | (3,434,890) | (71,899) | |
Net Increase (Decrease)—Investor Shares | (80,852) | 2,023 | (756,373) | (18,524) |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 4,369,056 | 29,177 | 13,212,176 | 83,917 | |
Issued in Lieu of Cash Distributions | 6,273,062 | 45,655 | 1,227,487 | 7,836 | |
Redeemed | (5,426,171) | (37,397) | (11,956,039) | (75,557) | |
Net Increase (Decrease)—Admiral Shares | 5,215,947 | 37,435 | 2,483,624 | 16,196 |
H. | Certain of the fund’s investments are in companies that are considered to be affiliated companies of the fund because the fund owns more than 5% of the outstanding voting securities of the company or the issuer is another member of The Vanguard Group. Transactions during the period in securities of these companies were as follows: |
Current Period Transactions | ||||||||
Aug. 31, 2021 Market Value ($000) | Purchases at Cost ($000) | Proceeds from Securities Sold ($000) | Realized Net Gain (Loss) ($000) | Change in Unrealized App. (Dep.) ($000) | Income ($000) | Capital Gain Distributions Received ($000) | Feb. 28, 2022 Market Value ($000) | |
HelloFresh SE | 1,139,379 | — | 17,085 | 12,164 | (570,667) | — | — | 563,791 |
Home24 SE | 41,075 | — | — | — | (23,113) | — | — | 17,962 |
Jumia Technologies AG ADR | 134,564 | — | — | — | (71,283) | — | — | 63,281 |
Meli Kaszek Pioneer Corp. Class A | — | 18,846 | — | — | 170 | — | — | 19,016 |
Umicore SA | 922,770 | 104,401 | 22,391 | (8,486) | (372,809) | 11,644 | — | 623,485 |
Vanguard Market Liquidity Fund | 1,643,150 | NA1 | NA1 | (94) | (2) | 349 | 13 | 962,649 |
You & Mr. Jones | 200,032 | — | — | — | 61,974 | — | — | 262,006 |
Zalando SE | 1,535,149 | 37,819 | 10,401 | (3,141) | (621,592) | — | — | 937,834 |
Total | 5,616,119 | 161,066 | 49,877 | 443 | (1,597,322) | 11,993 | 13 | 3,450,024 |
1 | Not applicable—purchases and sales are for temporary cash investment purposes. |
I. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
About Your Fund’s Expenses | 1 |
Financial Statements | 4 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
FTSE Social Index Fund | |||
Admiral™ Shares | $1,000.00 | $942.20 | $0.67 |
Institutional Shares | 1,000.00 | 942.10 | 0.58 |
Based on Hypothetical 5% Yearly Return | |||
FTSE Social Index Fund | |||
Admiral Shares | $1,000.00 | $1,024.10 | $0.70 |
Institutional Shares | 1,000.00 | 1,024.20 | 0.60 |
Basic Materials | 1.8% |
Consumer Discretionary | 16.6 |
Consumer Staples | 4.6 |
Energy | 0.2 |
Financials | 10.6 |
Health Care | 13.9 |
Industrials | 10.0 |
Real Estate | 3.1 |
Technology | 34.7 |
Telecommunications | 3.5 |
Utilities | 1.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Basic Materials (1.7%) | |||
Linde plc | 244,197 | 71,608 | |
Newmont Corp. | 378,836 | 25,079 | |
Air Products and Chemicals Inc. | 104,667 | 24,733 | |
Dow Inc. | 352,862 | 20,805 | |
Nucor Corp. | 134,669 | 17,725 | |
International Flavors & Fragrances Inc. | 120,342 | 16,006 | |
Fastenal Co. | 271,454 | 13,969 | |
LyondellBasell Industries NV Class A | 123,995 | 12,056 | |
Albemarle Corp. | 54,662 | 10,708 | |
CF Industries Holdings Inc. | 101,539 | 8,244 | |
International Paper Co. | 184,179 | 8,017 | |
Eastman Chemical Co. | 62,500 | 7,404 | |
Celanese Corp. Class A | 50,924 | 7,093 | |
FMC Corp. | 60,410 | 7,083 | |
Avery Dennison Corp. | 38,640 | 6,808 | |
Steel Dynamics Inc. | 89,800 | 6,338 | |
Westlake Corp. | 16,000 | 1,765 | |
* | Sylvamo Corp. | 15,861 | 554 |
265,995 | |||
Consumer Discretionary (16.6%) | |||
* | Amazon.com Inc. | 205,472 | 631,058 |
* | Tesla Inc. | 382,924 | 333,309 |
Home Depot Inc. | 503,341 | 158,970 | |
* | Walt Disney Co. | 860,009 | 127,677 |
Costco Wholesale Corp. | 209,365 | 108,713 | |
McDonald's Corp. | 353,876 | 86,618 | |
* | Netflix Inc. | 204,223 | 80,570 |
NIKE Inc. Class B | 586,947 | 80,148 | |
Lowe's Cos. Inc. | 328,284 | 72,570 | |
Starbucks Corp. | 558,036 | 51,222 | |
Target Corp. | 230,431 | 46,033 | |
* | Booking Holdings Inc. | 19,381 | 42,100 |
TJX Cos. Inc. | 571,828 | 37,798 | |
Ford Motor Co. | 1,848,066 | 32,452 | |
Estee Lauder Cos. Inc. Class A | 108,462 | 32,141 | |
Activision Blizzard Inc. | 365,543 | 29,792 | |
* | Uber Technologies Inc. | 760,975 | 27,418 |
* | MercadoLibre Inc. | 22,079 | 24,875 |
Dollar General Corp. | 110,507 | 21,918 | |
* | O'Reilly Automotive Inc. | 31,474 | 20,434 |
* | Chipotle Mexican Grill Inc. Class A | 13,297 | 20,256 |
Shares | Market Value• ($000) | ||
* | AutoZone Inc. | 9,904 | 18,455 |
Electronic Arts Inc. | 134,472 | 17,493 | |
* | Lululemon Athletica Inc. | 53,741 | 17,194 |
Yum! Brands Inc. | 139,275 | 17,072 | |
* | Aptiv plc | 127,974 | 16,565 |
eBay Inc. | 296,565 | 16,189 | |
Ross Stores Inc. | 165,594 | 15,134 | |
* | Dollar Tree Inc. | 104,738 | 14,881 |
* | Expedia Group Inc. | 68,914 | 13,515 |
Lennar Corp. Class A | 125,589 | 11,288 | |
Best Buy Co. Inc. | 115,740 | 11,185 | |
Tractor Supply Co. | 53,938 | 10,992 | |
Yum China Holdings Inc. | 202,023 | 10,509 | |
* | Spotify Technology SA | 64,858 | 10,130 |
* | Ulta Beauty Inc. | 25,097 | 9,399 |
* | Etsy Inc. | 59,744 | 9,254 |
Darden Restaurants Inc. | 61,567 | 8,941 | |
VF Corp. | 152,632 | 8,856 | |
* | Take-Two Interactive Software Inc. | 53,544 | 8,674 |
Pool Corp. | 18,600 | 8,530 | |
* | CarMax Inc. | 77,188 | 8,439 |
Paramount Global Class B | 273,462 | 8,371 | |
Omnicom Group Inc. | 99,733 | 8,367 | |
Genuine Parts Co. | 65,909 | 8,051 | |
Garmin Ltd. | 71,852 | 7,935 | |
* | Live Nation Entertainment Inc. | 65,589 | 7,924 |
* | NVR Inc. | 1,497 | 7,423 |
Domino's Pizza Inc. | 17,000 | 7,348 | |
* | Burlington Stores Inc. | 31,451 | 7,104 |
Interpublic Group of Cos. Inc. | 185,613 | 6,831 | |
Fox Corp. Class A | 155,614 | 6,509 | |
Bath & Body Works Inc. | 113,800 | 6,073 | |
Advance Auto Parts Inc. | 29,525 | 6,037 | |
LKQ Corp. | 127,604 | 5,991 | |
Hasbro Inc. | 60,700 | 5,891 | |
PulteGroup Inc. | 117,180 | 5,819 | |
* | Carvana Co. Class A | 37,265 | 5,607 |
Whirlpool Corp. | 27,818 | 5,599 | |
* | Lyft Inc. Class A | 138,641 | 5,399 |
* | Wayfair Inc. Class A | 35,672 | 5,025 |
Vail Resorts Inc. | 18,600 | 4,846 | |
BorgWarner Inc. (XNYS) | 113,683 | 4,662 | |
Lear Corp. | 27,956 | 4,399 | |
Newell Brands Inc. | 183,227 | 4,352 | |
* | Discovery Inc. Class C | 148,798 | 4,162 |
Shares | Market Value• ($000) | ||
* | Liberty Media Corp.- Liberty SiriusXM Class C | 81,400 | 4,096 |
Aramark | 107,787 | 3,984 | |
* | Peloton Interactive Inc. Class A | 125,000 | 3,632 |
Autoliv Inc. | 41,045 | 3,612 | |
Rollins Inc. | 106,500 | 3,475 | |
Gentex Corp. | 110,545 | 3,346 | |
* | Southwest Airlines Co. | 71,472 | 3,130 |
Nielsen Holdings plc | 168,859 | 2,942 | |
* | Delta Air Lines Inc. | 72,259 | 2,885 |
* | Farfetch Ltd. Class A | 146,700 | 2,795 |
1 | Sirius XM Holdings Inc. | 420,900 | 2,593 |
Fox Corp. Class B | 65,772 | 2,516 | |
* | Discovery Inc. Class A | 79,766 | 2,237 |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 39,000 | 1,964 |
* | United Airlines Holdings Inc. | 37,941 | 1,685 |
* | American Airlines Group Inc. | 85,094 | 1,468 |
Lennar Corp. Class B | 8,300 | 627 | |
2,525,479 | |||
Consumer Staples (4.6%) | |||
Procter & Gamble Co. | 1,138,774 | 177,524 | |
PepsiCo Inc. | 654,565 | 107,179 | |
CVS Health Corp. | 623,612 | 64,637 | |
Mondelez International Inc. Class A | 660,109 | 43,224 | |
Colgate-Palmolive Co. | 394,903 | 30,388 | |
Sysco Corp. | 242,560 | 21,127 | |
Kimberly-Clark Corp. | 160,432 | 20,880 | |
McKesson Corp. | 72,376 | 19,901 | |
General Mills Inc. | 290,899 | 19,615 | |
Corteva Inc. | 344,230 | 17,910 | |
Kroger Co. | 350,337 | 16,396 | |
Walgreens Boots Alliance Inc. | 337,338 | 15,548 | |
* | Monster Beverage Corp. | 175,941 | 14,849 |
Hershey Co. | 69,192 | 13,995 | |
Kraft Heinz Co. | 326,759 | 12,816 | |
Keurig Dr Pepper Inc. | 329,236 | 12,732 | |
Tyson Foods Inc. Class A | 136,067 | 12,608 | |
Church & Dwight Co. Inc. | 115,416 | 11,293 | |
McCormick & Co. Inc. | 117,328 | 11,166 | |
AmerisourceBergen Corp. Class A | 70,248 | 10,012 | |
Clorox Co. | 58,686 | 8,556 | |
Conagra Brands Inc. | 219,955 | 7,692 | |
Kellogg Co. | 118,975 | 7,607 | |
Bunge Ltd. | 64,399 | 6,733 | |
J M Smucker Co. | 49,684 | 6,695 | |
Hormel Foods Corp. | 132,390 | 6,307 | |
Lamb Weston Holdings Inc. | 68,318 | 4,538 | |
Campbell Soup Co. | 91,508 | 4,115 | |
706,043 | |||
Energy (0.2%) | |||
* | Enphase Energy Inc. | 62,437 | 10,408 |
* | SolarEdge Technologies Inc. | 24,800 | 7,922 |
* | Plug Power Inc. | 238,582 | 6,034 |
24,364 |
Shares | Market Value• ($000) | ||
Financials (10.6%) | |||
JPMorgan Chase & Co. | 1,389,924 | 197,091 | |
Bank of America Corp. | 3,409,633 | 150,706 | |
S&P Global Inc. | 164,503 | 61,804 | |
Charles Schwab Corp. | 712,338 | 60,164 | |
Morgan Stanley | 634,257 | 57,552 | |
Citigroup Inc. | 940,000 | 55,676 | |
Goldman Sachs Group Inc. | 154,550 | 52,746 | |
BlackRock Inc. | 67,570 | 50,265 | |
Chubb Ltd. | 203,219 | 41,384 | |
CME Group Inc. | 169,541 | 40,102 | |
PNC Financial Services Group Inc. | 201,146 | 40,078 | |
Truist Financial Corp. | 634,790 | 39,497 | |
Marsh & McLennan Cos. Inc. | 240,397 | 37,360 | |
US Bancorp | 634,427 | 35,871 | |
Intercontinental Exchange Inc. | 262,804 | 33,670 | |
Aon plc Class A (XNYS) | 103,274 | 30,170 | |
Progressive Corp. | 276,349 | 29,274 | |
Moody's Corp. | 77,017 | 24,802 | |
American International Group Inc. | 394,613 | 24,166 | |
MetLife Inc. | 337,926 | 22,827 | |
Prudential Financial Inc. | 179,173 | 20,006 | |
Travelers Cos. Inc. | 115,808 | 19,899 | |
Bank of New York Mellon Corp. | 358,075 | 19,032 | |
MSCI Inc. Class A | 37,829 | 18,978 | |
Aflac Inc. | 307,656 | 18,795 | |
Discover Financial Services | 138,959 | 17,153 | |
Allstate Corp. | 135,222 | 16,546 | |
* | SVB Financial Group | 26,665 | 16,159 |
KKR & Co. Inc. | 264,034 | 15,874 | |
Ameriprise Financial Inc. | 52,704 | 15,800 | |
Fifth Third Bancorp | 323,971 | 15,499 | |
T Rowe Price Group Inc. | 106,422 | 15,384 | |
Arthur J Gallagher & Co. | 96,824 | 15,317 | |
State Street Corp. | 172,335 | 14,705 | |
First Republic Bank | 84,740 | 14,682 | |
Willis Towers Watson plc | 58,463 | 12,996 | |
Hartford Financial Services Group Inc. | 160,024 | 11,118 | |
Regions Financial Corp. | 458,183 | 11,083 | |
M&T Bank Corp. | 60,739 | 11,068 | |
Northern Trust Corp. | 96,734 | 11,018 | |
KeyCorp | 437,573 | 10,970 | |
Huntington Bancshares Inc. | 684,137 | 10,618 | |
Citizens Financial Group Inc. | 198,009 | 10,380 | |
Raymond James Financial Inc. | 87,399 | 9,583 | |
Nasdaq Inc. | 55,056 | 9,423 | |
Principal Financial Group Inc. | 125,072 | 8,835 | |
Cincinnati Financial Corp. | 70,851 | 8,700 | |
* | Arch Capital Group Ltd. | 175,547 | 8,270 |
Ally Financial Inc. | 165,113 | 8,239 | |
Broadridge Financial Solutions Inc. | 54,732 | 8,002 | |
* | Markel Corp. | 6,396 | 7,950 |
Brown & Brown Inc. | 109,400 | 7,397 | |
FactSet Research Systems Inc. | 17,772 | 7,217 |
Shares | Market Value• ($000) | ||
MarketAxess Holdings Inc. | 17,879 | 6,820 | |
Fidelity National Financial Inc. | 127,613 | 6,080 | |
Cboe Global Markets Inc. | 50,800 | 5,958 | |
W R Berkley Corp. | 65,165 | 5,884 | |
Lincoln National Corp. | 86,710 | 5,846 | |
Comerica Inc. | 61,004 | 5,825 | |
Equitable Holdings Inc. | 172,521 | 5,635 | |
Everest Re Group Ltd. | 18,501 | 5,517 | |
Zions Bancorp NA | 72,746 | 5,157 | |
Credicorp Ltd. | 32,000 | 4,840 | |
Globe Life Inc. | 47,708 | 4,817 | |
Annaly Capital Management Inc. | 662,333 | 4,610 | |
Assurant Inc. | 26,262 | 4,457 | |
* | Alleghany Corp. | 6,168 | 4,083 |
Franklin Resources Inc. | 135,524 | 4,029 | |
Commerce Bancshares Inc. | 53,195 | 3,818 | |
Voya Financial Inc. | 52,908 | 3,563 | |
RenaissanceRe Holdings Ltd. | 22,018 | 3,320 | |
AGNC Investment Corp. | 247,510 | 3,195 | |
SEI Investments Co. | 50,751 | 2,973 | |
CNA Financial Corp. | 14,500 | 663 | |
1,608,991 | |||
Health Care (13.9%) | |||
UnitedHealth Group Inc. | 445,166 | 211,841 | |
Pfizer Inc. | 2,643,323 | 124,078 | |
AbbVie Inc. | 836,639 | 123,630 | |
Thermo Fisher Scientific Inc. | 186,085 | 101,230 | |
Eli Lilly & Co. | 401,470 | 100,347 | |
Abbott Laboratories | 822,368 | 99,194 | |
Merck & Co. Inc. | 1,199,503 | 91,858 | |
Danaher Corp. | 299,901 | 82,296 | |
Bristol-Myers Squibb Co. | 1,057,487 | 72,618 | |
Medtronic plc | 635,326 | 66,703 | |
Amgen Inc. | 268,665 | 60,847 | |
Anthem Inc. | 115,809 | 52,328 | |
* | Intuitive Surgical Inc. | 167,912 | 48,750 |
Zoetis Inc. | 224,727 | 43,518 | |
Stryker Corp. | 164,852 | 43,414 | |
Cigna Corp. | 154,222 | 36,671 | |
Becton Dickinson and Co. | 134,980 | 36,617 | |
Gilead Sciences Inc. | 595,660 | 35,978 | |
* | Edwards Lifesciences Corp. | 292,976 | 32,922 |
* | Boston Scientific Corp. | 669,426 | 29,569 |
* | Regeneron Pharmaceuticals Inc. | 47,514 | 29,381 |
HCA Healthcare Inc. | 116,090 | 29,058 | |
* | Vertex Pharmaceuticals Inc. | 120,137 | 27,634 |
Humana Inc. | 60,980 | 26,485 | |
* | Moderna Inc. | 160,089 | 24,590 |
* | Centene Corp. | 273,999 | 22,638 |
* | Illumina Inc. | 68,763 | 22,458 |
* | IDEXX Laboratories Inc. | 39,870 | 21,225 |
* | IQVIA Holdings Inc. | 89,998 | 20,710 |
Baxter International Inc. | 237,880 | 20,213 | |
* | Align Technology Inc. | 37,420 | 19,139 |
Agilent Technologies Inc. | 144,814 | 18,878 | |
* | DexCom Inc. | 45,565 | 18,860 |
ResMed Inc. | 68,182 | 16,824 |
Shares | Market Value• ($000) | ||
* | Veeva Systems Inc. Class A | 65,000 | 14,888 |
* | Biogen Inc. | 69,136 | 14,588 |
West Pharmaceutical Services Inc. | 34,600 | 13,393 | |
Cerner Corp. | 139,534 | 13,012 | |
Zimmer Biomet Holdings Inc. | 99,216 | 12,619 | |
* | Laboratory Corp. of America Holdings | 45,422 | 12,321 |
PerkinElmer Inc. | 59,837 | 10,747 | |
* | Avantor Inc. | 285,224 | 9,894 |
STERIS plc | 40,431 | 9,703 | |
* | Horizon Therapeutics plc | 103,096 | 9,399 |
Cooper Cos. Inc. | 22,819 | 9,333 | |
* | Alnylam Pharmaceuticals Inc. | 56,305 | 8,888 |
* | Hologic Inc. | 119,033 | 8,472 |
* | Insulet Corp. | 31,365 | 8,302 |
* | Catalent Inc. | 80,300 | 8,194 |
* | Seagen Inc. | 63,037 | 8,124 |
Bio-Techne Corp. | 18,700 | 7,843 | |
Quest Diagnostics Inc. | 58,028 | 7,617 | |
Teleflex Inc. | 22,100 | 7,432 | |
Cardinal Health Inc. | 133,713 | 7,222 | |
* | Charles River Laboratories International Inc. | 23,300 | 6,784 |
* | BioMarin Pharmaceutical Inc. | 85,614 | 6,688 |
* | ABIOMED Inc. | 21,152 | 6,573 |
Viatris Inc. | 572,713 | 6,306 | |
* | Bio-Rad Laboratories Inc. Class A | 9,986 | 6,251 |
* | Exact Sciences Corp. | 79,724 | 6,223 |
Royalty Pharma plc Class A | 154,200 | 6,054 | |
* | Incyte Corp. | 86,556 | 5,912 |
* | Elanco Animal Health Inc. (XNYS) | 207,437 | 5,893 |
DENTSPLY SIRONA Inc. | 103,799 | 5,620 | |
* | Henry Schein Inc. | 64,936 | 5,609 |
* | Teladoc Health Inc. | 71,037 | 5,392 |
Universal Health Services Inc. Class B | 33,007 | 4,751 | |
Organon & Co. | 120,724 | 4,507 | |
* | Jazz Pharmaceuticals plc | 28,354 | 3,896 |
* | Novocure Ltd. | 47,358 | 3,877 |
* | Masimo Corp. | 23,258 | 3,662 |
* | DaVita Inc. | 32,447 | 3,659 |
2,112,150 | |||
Industrials (10.0%) | |||
Visa Inc. Class A | 801,336 | 173,185 | |
Mastercard Inc. Class A | 414,279 | 149,480 | |
Accenture plc Class A | 301,349 | 95,232 | |
Union Pacific Corp. | 303,961 | 74,759 | |
United Parcel Service Inc. Class B | 342,360 | 72,039 | |
* | PayPal Holdings Inc. | 555,487 | 62,176 |
American Express Co. | 297,735 | 57,921 | |
Caterpillar Inc. | 256,706 | 48,153 | |
Deere & Co. | 131,949 | 47,504 | |
Automatic Data Processing Inc. | 201,251 | 41,144 | |
CSX Corp. | 1,044,789 | 35,429 | |
Illinois Tool Works Inc. | 148,609 | 32,150 | |
Capital One Financial Corp. | 200,150 | 30,677 |
Shares | Market Value• ($000) | ||
Sherwin-Williams Co. | 113,572 | 29,884 | |
* | Block Inc. (XNYS) | 225,975 | 28,812 |
* | Fiserv Inc. | 283,398 | 27,680 |
Fidelity National Information Services Inc. | 288,306 | 27,455 | |
FedEx Corp. | 116,538 | 25,903 | |
Johnson Controls International plc | 337,014 | 21,892 | |
DuPont de Nemours Inc. | 248,184 | 19,202 | |
Global Payments Inc. | 136,734 | 18,238 | |
Paychex Inc. | 153,110 | 18,229 | |
Trane Technologies plc | 112,260 | 17,280 | |
Cintas Corp. | 41,172 | 15,453 | |
Old Dominion Freight Line Inc. | 48,633 | 15,272 | |
* | Mettler-Toledo International Inc. | 10,673 | 15,036 |
PACCAR Inc. | 161,775 | 14,853 | |
Rockwell Automation Inc. | 54,768 | 14,600 | |
* | Keysight Technologies Inc. | 87,576 | 13,782 |
Verisk Analytics Inc. Class A | 75,405 | 13,372 | |
Equifax Inc. | 57,000 | 12,445 | |
Stanley Black & Decker Inc. | 75,849 | 12,341 | |
Vulcan Materials Co. | 63,206 | 11,469 | |
Martin Marietta Materials Inc. | 29,290 | 11,113 | |
Synchrony Financial | 259,053 | 11,082 | |
Dover Corp. | 67,607 | 10,605 | |
* | Zebra Technologies Corp. Class A | 25,279 | 10,449 |
WW Grainger Inc. | 21,826 | 10,412 | |
Ingersoll Rand Inc. | 192,006 | 9,700 | |
* | Generac Holdings Inc. | 29,200 | 9,212 |
* | Waters Corp. | 28,609 | 9,061 |
* | FleetCor Technologies Inc. | 37,551 | 8,794 |
TransUnion | 90,800 | 8,241 | |
Expeditors International of Washington Inc. | 79,176 | 8,184 | |
* | Trimble Inc. | 117,050 | 8,164 |
JB Hunt Transport Services Inc. | 39,951 | 8,107 | |
Westinghouse Air Brake Technologies Corp. | 85,101 | 7,899 | |
Xylem Inc. | 83,753 | 7,450 | |
IDEX Corp. | 35,900 | 6,889 | |
Packaging Corp. of America | 44,520 | 6,553 | |
Masco Corp. | 115,720 | 6,485 | |
Robert Half International Inc. | 51,907 | 6,244 | |
Jack Henry & Associates Inc. | 34,644 | 6,125 | |
* | Fair Isaac Corp. | 12,679 | 5,974 |
CH Robinson Worldwide Inc. | 60,197 | 5,820 | |
Westrock Co. | 124,900 | 5,654 | |
Fortune Brands Home & Security Inc. | 63,334 | 5,504 | |
Snap-on Inc. | 25,319 | 5,322 | |
Allegion plc | 42,690 | 4,889 | |
* | GXO Logistics Inc. | 45,637 | 3,830 |
* | Mohawk Industries Inc. | 26,894 | 3,786 |
Western Union Co. | 191,327 | 3,478 | |
* | XPO Logistics Inc. | 45,937 | 3,339 |
* | StoneCo. Ltd. Class A | 101,355 | 1,139 |
Shares | Market Value• ($000) | ||
* | GreenSky Inc. Class A | 14,533 | 144 |
1,512,695 | |||
Real Estate (3.1%) | |||
Prologis Inc. | 348,803 | 50,873 | |
American Tower Corp. | 213,567 | 48,452 | |
Crown Castle International Corp. | 203,856 | 33,960 | |
Equinix Inc. | 42,275 | 30,004 | |
Public Storage | 71,274 | 25,304 | |
Digital Realty Trust Inc. | 132,714 | 17,906 | |
Realty Income Corp. | 268,206 | 17,726 | |
Welltower Inc. | 204,730 | 17,052 | |
AvalonBay Communities Inc. | 65,965 | 15,739 | |
SBA Communications Corp. Class A | 51,265 | 15,553 | |
* | CBRE Group Inc. Class A | 157,501 | 15,254 |
Equity Residential | 175,114 | 14,937 | |
Alexandria Real Estate Equities Inc. | 72,531 | 13,737 | |
Extra Space Storage Inc. | 61,800 | 11,628 | |
* | CoStar Group Inc. | 185,420 | 11,312 |
Mid-America Apartment Communities Inc. | 54,726 | 11,197 | |
Invitation Homes Inc. | 282,858 | 10,692 | |
Ventas Inc. | 189,639 | 10,241 | |
Essex Property Trust Inc. | 30,772 | 9,760 | |
Sun Communities Inc. | 53,844 | 9,746 | |
Duke Realty Corp. | 178,415 | 9,456 | |
Boston Properties Inc. | 73,267 | 8,961 | |
UDR Inc. | 145,846 | 8,003 | |
Healthpeak Properties Inc. | 253,150 | 7,863 | |
WP Carey Inc. | 86,382 | 6,686 | |
Iron Mountain Inc. | 134,324 | 6,606 | |
Kimco Realty Corp. | 272,444 | 6,411 | |
Equity LifeStyle Properties Inc. | 83,500 | 6,231 | |
* | Host Hotels & Resorts Inc. | 337,900 | 6,173 |
Regency Centers Corp. | 80,502 | 5,304 | |
* | Zillow Group Inc. Class C | 79,817 | 4,591 |
Federal Realty Investment Trust | 36,824 | 4,330 | |
Vornado Realty Trust | 85,258 | 3,690 | |
* | Zillow Group Inc. Class A | 28,850 | 1,652 |
* | Orion Office REIT Inc. | 25,030 | 426 |
477,456 | |||
Technology (34.7%) | |||
Apple Inc. | 7,306,358 | 1,206,426 | |
Microsoft Corp. | 3,567,107 | 1,065,816 | |
* | Alphabet Inc. Class A | 142,487 | 384,877 |
* | Alphabet Inc. Class C | 132,746 | 358,125 |
NVIDIA Corp. | 1,132,480 | 276,155 | |
* | Meta Platforms Inc. Class A | 1,118,997 | 236,142 |
Broadcom Inc. | 188,972 | 111,010 | |
* | Adobe Inc. | 225,794 | 105,599 |
* | Advanced Micro Devices Inc. | 773,688 | 95,427 |
* | salesforce.com Inc. | 445,260 | 93,741 |
QUALCOMM Inc. | 534,213 | 91,879 | |
Intel Corp. | 1,912,376 | 91,220 | |
Texas Instruments Inc. | 437,084 | 74,300 | |
Oracle Corp. | 781,564 | 59,375 | |
Intuit Inc. | 124,775 | 59,189 | |
Applied Materials Inc. | 426,895 | 57,289 |
Shares | Market Value• ($000) | ||
* | ServiceNow Inc. | 93,584 | 54,271 |
Micron Technology Inc. | 529,607 | 47,061 | |
Analog Devices Inc. | 254,302 | 40,762 | |
Lam Research Corp. | 66,429 | 37,290 | |
* | Palo Alto Networks Inc. | 45,090 | 26,795 |
Marvell Technology Inc. | 386,644 | 26,419 | |
* | Snowflake Inc. Class A | 94,300 | 25,052 |
KLA Corp. | 71,801 | 25,023 | |
NXP Semiconductors NV | 125,158 | 23,795 | |
* | Autodesk Inc. | 104,162 | 22,940 |
* | Synopsys Inc. | 71,980 | 22,486 |
* | Fortinet Inc. | 63,300 | 21,808 |
Cognizant Technology Solutions Corp. Class A | 249,357 | 21,477 | |
* | Workday Inc. Class A | 89,787 | 20,566 |
* | Atlassian Corp. plc Class A | 65,600 | 20,055 |
* | Cadence Design Systems Inc. | 129,275 | 19,576 |
* | Datadog Inc. Class A | 118,103 | 19,028 |
HP Inc. | 545,566 | 18,746 | |
* | Crowdstrike Holdings Inc. Class A | 93,544 | 18,261 |
Microchip Technology Inc. | 258,764 | 18,199 | |
* | Cloudflare Inc. Class A | 121,903 | 14,192 |
* | Twilio Inc. Class A | 79,220 | 13,848 |
* | Zoom Video Communications Inc. Class A | 102,131 | 13,543 |
* | Twitter Inc. | 368,229 | 13,091 |
VMware Inc. Class A | 105,149 | 12,336 | |
* | MongoDB Inc. Class A | 29,800 | 11,383 |
* | HubSpot Inc. | 21,279 | 11,171 |
CDW Corp. | 63,645 | 10,976 | |
* | Okta Inc. | 59,358 | 10,853 |
* | DocuSign Inc. Class A | 91,431 | 10,828 |
Skyworks Solutions Inc. | 78,157 | 10,799 | |
* | Gartner Inc. | 37,658 | 10,560 |
* | VeriSign Inc. | 45,807 | 9,790 |
Monolithic Power Systems Inc. | 21,272 | 9,757 | |
Hewlett Packard Enterprise Co. | 610,567 | 9,720 | |
Seagate Technology Holdings plc | 90,274 | 9,313 | |
Teradyne Inc. | 76,700 | 9,044 | |
* | Splunk Inc. | 76,482 | 9,033 |
* | Zscaler Inc. | 37,558 | 8,982 |
NetApp Inc. | 105,665 | 8,282 | |
* | Akamai Technologies Inc. | 75,827 | 8,209 |
* | Paycom Software Inc. | 24,200 | 8,209 |
* | Tyler Technologies Inc. | 18,879 | 8,085 |
SS&C Technologies Holdings Inc. | 104,900 | 7,864 | |
* | Unity Software Inc. | 71,300 | 7,590 |
NortonLifeLock Inc. | 261,269 | 7,572 | |
* | Western Digital Corp. | 147,298 | 7,503 |
* | DoorDash Inc. Class A | 69,900 | 7,336 |
* | Qorvo Inc. | 52,900 | 7,236 |
* | Pinterest Inc. Class A | 267,313 | 7,151 |
* | Check Point Software Technologies Ltd. | 49,058 | 7,108 |
* | GoDaddy Inc. Class A | 79,800 | 6,656 |
* | Zendesk Inc. | 57,000 | 6,650 |
* | Dell Technologies Inc. Class C | 127,363 | 6,490 |
Citrix Systems Inc. | 58,362 | 5,982 | |
* | F5 Inc. | 28,195 | 5,663 |
Shares | Market Value• ($000) | ||
* | PTC Inc. | 50,100 | 5,575 |
* | EPAM Systems Inc. | 25,379 | 5,272 |
* | RingCentral Inc. Class A | 38,758 | 5,071 |
Amdocs Ltd. | 60,625 | 4,771 | |
* | Ceridian HCM Holding Inc. | 60,689 | 4,425 |
* | Coupa Software Inc. | 33,858 | 4,097 |
* | Arrow Electronics Inc. | 31,988 | 3,899 |
* | Flex Ltd. | 225,000 | 3,710 |
* | Clarivate plc | 201,846 | 3,024 |
* | Wix.com Ltd. | 25,000 | 2,289 |
* | Yandex NV Class A | 149,782 | 2,009 |
5,273,127 | |||
Telecommunications (3.5%) | |||
Cisco Systems Inc. | 2,001,398 | 111,618 | |
Verizon Communications Inc. | 1,960,713 | 105,232 | |
Comcast Corp. Class A | 2,157,506 | 100,885 | |
AT&T Inc. | 3,385,058 | 80,192 | |
* | Charter Communications Inc. Class A | 58,991 | 35,500 |
* | T-Mobile US Inc. | 278,536 | 34,318 |
Motorola Solutions Inc. | 78,430 | 17,288 | |
* | Arista Networks Inc. | 114,128 | 14,007 |
* | Roku Inc. | 55,700 | 7,772 |
Juniper Networks Inc. | 155,425 | 5,252 | |
Lumen Technologies Inc. | 486,900 | 5,044 | |
* | Liberty Global plc Class C | 168,600 | 4,362 |
* | DISH Network Corp. Class A | 117,372 | 3,751 |
* | Liberty Global plc Class A | 72,200 | 1,861 |
* | Altice USA Inc. Class A | 95,930 | 1,109 |
Ubiquiti Inc. | 3,200 | 812 | |
529,003 | |||
Utilities (1.0%) | |||
Waste Management Inc. | 199,162 | 28,759 | |
Sempra Energy (XNYS) | 151,010 | 21,779 | |
Consolidated Edison Inc. | 168,025 | 14,412 | |
American Water Works Co. Inc. | 85,641 | 12,939 | |
Republic Services Inc. Class A | 99,849 | 12,010 | |
Edison International | 175,241 | 11,114 | |
PPL Corp. | 353,537 | 9,252 | |
CMS Energy Corp. | 135,205 | 8,654 | |
CenterPoint Energy Inc. | 281,757 | 7,706 | |
Alliant Energy Corp. | 117,500 | 6,862 | |
Atmos Energy Corp. | 61,510 | 6,754 | |
AES Corp. | 315,134 | 6,690 | |
NiSource Inc. | 182,805 | 5,289 | |
Avangrid Inc. | 27,239 | 1,222 | |
153,442 | |||
Total Common Stocks (Cost $9,364,727) | 15,188,745 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.1%) | |||
Money Market Fund (0.1%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $9,331) | 93,314 | 9,331 |
Total Investments (100.0%) (Cost $9,374,058) | 15,198,076 | ||
Other Assets and Liabilities—Net (0.0%) | 4,577 | ||
Net Assets (100%) | 15,202,653 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,463,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $2,799,000 was received for securities on loan. |
REIT—Real Estate Investment Trust. |
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 | March 2022 | 51 | 11,138 | 15 |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $9,364,727) | 15,188,745 |
Affiliated Issuers (Cost $9,331) | 9,331 |
Total Investments in Securities | 15,198,076 |
Investment in Vanguard | 529 |
Cash Collateral Pledged—Futures Contracts | 40 |
Receivables for Accrued Income | 12,354 |
Receivables for Capital Shares Issued | 17,779 |
Variation Margin Receivable—Futures Contracts | 1 |
Total Assets | 15,228,779 |
Liabilities | |
Due to Custodian | 13 |
Payables for Investment Securities Purchased | 18,067 |
Collateral for Securities on Loan | 2,799 |
Payables for Capital Shares Redeemed | 4,539 |
Payables to Vanguard | 708 |
Total Liabilities | 26,126 |
Net Assets | 15,202,653 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 9,804,508 |
Total Distributable Earnings (Loss) | 5,398,145 |
Net Assets | 15,202,653 |
Admiral Shares—Net Assets | |
Applicable to 203,290,731 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 8,454,356 |
Net Asset Value Per Share—Admiral Shares | $41.59 |
Institutional Shares—Net Assets | |
Applicable to 225,412,432 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,748,297 |
Net Asset Value Per Share—Institutional Shares | $29.94 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 89,954 |
Interest2 | 15 |
Securities Lending—Net | 93 |
Total Income | 90,062 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 718 |
Management and Administrative—Admiral Shares | 5,236 |
Management and Administrative—Institutional Shares | 3,610 |
Marketing and Distribution—Admiral Shares | 280 |
Marketing and Distribution—Institutional Shares | 184 |
Custodian Fees | 110 |
Shareholders’ Reports—Admiral Shares | 80 |
Shareholders’ Reports—Institutional Shares | 13 |
Trustees’ Fees and Expenses | 4 |
Other Expenses | 8 |
Total Expenses | 10,243 |
Net Investment Income | 79,819 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 38,430 |
Futures Contracts | (876) |
Realized Net Gain (Loss) | 37,554 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (1,064,747) |
Futures Contracts | (108) |
Change in Unrealized Appreciation (Depreciation) | (1,064,855) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (947,482) |
1 | Dividends are net of foreign withholding taxes of $21,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $14,000, ($7,000), less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $44,652,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 79,819 | 133,231 | |
Realized Net Gain (Loss) | 37,554 | 32,888 | |
Change in Unrealized Appreciation (Depreciation) | (1,064,855) | 3,136,143 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (947,482) | 3,302,262 | |
Distributions | |||
Admiral Shares | (49,232) | (71,878) | |
Institutional Shares | (39,118) | (55,315) | |
Total Distributions | (88,350) | (127,193) | |
Capital Share Transactions | |||
Admiral Shares | 454,657 | 1,467,446 | |
Institutional Shares | 580,842 | 1,251,775 | |
Net Increase (Decrease) from Capital Share Transactions | 1,035,499 | 2,719,221 | |
Total Increase (Decrease) | (333) | 5,894,290 | |
Net Assets | |||
Beginning of Period | 15,202,986 | 9,308,696 | |
End of Period | 15,202,653 | 15,202,986 |
Admiral Shares | ||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | February 7, 20191 to August 31, 2019 | |
2021 | 2020 | |||
Net Asset Value, Beginning of Period | $44.39 | $34.27 | $27.27 | $25.00 |
Investment Operations | ||||
Net Investment Income2 | .222 | .432 | .465 | .273 |
Net Realized and Unrealized Gain (Loss) on Investments | (2.775) | 10.110 | 6.996 | 2.183 |
Total from Investment Operations | (2.553) | 10.542 | 7.461 | 2.456 |
Distributions | ||||
Dividends from Net Investment Income | (.247) | (.422) | (.461) | (.186) |
Distributions from Realized Capital Gains | — | — | — | — |
Total Distributions | (.247) | (.422) | (.461) | (.186) |
Net Asset Value, End of Period | $41.59 | $44.39 | $34.27 | $27.27 |
Total Return3 | -5.78% | 31.04% | 27.83% | 9.85% |
Ratios/Supplemental Data | ||||
Net Assets, End of Period (Millions) | $8,454 | $8,573 | $5,305 | $3,478 |
Ratio of Total Expenses to Average Net Assets | 0.14% | 0.14% | 0.14% | 0.14%4 |
Ratio of Net Investment Income to Average Net Assets | 1.02% | 1.13% | 1.60% | 1.79%4 |
Portfolio Turnover Rate | 1%5 | 4%5 | 18% | 11%5,6 |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Inception. |
2 | Calculated based on average shares outstanding. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | Annualized. |
5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares. |
6 | Reflects the fund’s portfolio turnover for the fiscal year ended August 31, 2019. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $31.96 | $24.67 | $19.63 | $19.28 | $16.15 | $13.96 |
Investment Operations | ||||||
Net Investment Income1 | .163 | .317 | .339 | .314 | .305 | .271 |
Net Realized and Unrealized Gain (Loss) on Investments | (2.002) | 7.282 | 5.037 | .351 | 3.105 | 2.175 |
Total from Investment Operations | (1.839) | 7.599 | 5.376 | .665 | 3.410 | 2.446 |
Distributions | ||||||
Dividends from Net Investment Income | (.181) | (.309) | (.336) | (.315) | (.280) | (.256) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.181) | (.309) | (.336) | (.315) | (.280) | (.256) |
Net Asset Value, End of Period | $29.94 | $31.96 | $24.67 | $19.63 | $19.28 | $16.15 |
Total Return | -5.79% | 31.09% | 27.86% | 3.58% | 21.34% | 17.72% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $6,748 | $6,630 | $4,003 | $2,701 | $2,349 | $1,443 |
Ratio of Total Expenses to Average Net Assets | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% |
Ratio of Net Investment Income to Average Net Assets | 1.04% | 1.15% | 1.62% | 1.49% | 1.71% | 1.79% |
Portfolio Turnover Rate | 1%2 | 4%2 | 18% | 11%2 | 8%2 | 11%2 |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 15,186,736 | 2,009 | — | 15,188,745 |
Temporary Cash Investments | 9,331 | — | — | 9,331 |
Total | 15,196,067 | 2,009 | — | 15,198,076 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 15 | — | — | 15 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 9,403,645 |
Gross Unrealized Appreciation | 5,998,810 |
Gross Unrealized Depreciation | (204,364) |
Net Unrealized Appreciation (Depreciation) | 5,794,446 |
E. | During the six months ended February 28, 2022, the fund purchased $1,412,120,000 of investment securities and sold $360,285,000 of investment securities, other than temporary cash investments. Purchases and sales include $0 and $129,344,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 1,443,785 | 32,449 | 2,693,123 | 70,662 | |
Issued in Lieu of Cash Distributions | 42,740 | 963 | 62,679 | 1,718 | |
Redeemed | (1,031,868) | (23,233) | (1,288,356) | (34,072) | |
Net Increase (Decrease)—Admiral Shares | 454,657 | 10,179 | 1,467,446 | 38,308 | |
Institutional Shares | |||||
Issued | 996,663 | 31,116 | 1,839,997 | 67,229 | |
Issued in Lieu of Cash Distributions | 38,273 | 1,198 | 54,024 | 2,056 | |
Redeemed | (454,094) | (14,356) | (642,246) | (24,102) | |
Net Increase (Decrease)—Institutional Shares | 580,842 | 17,958 | 1,251,775 | 45,183 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Vanguard Communication Services Index Fund |
Vanguard Consumer Discretionary Index Fund |
Vanguard Consumer Staples Index Fund |
Vanguard Energy Index Fund |
Vanguard Financials Index Fund |
Vanguard Health Care Index Fund |
Vanguard Industrials Index Fund |
Vanguard Information Technology Index Fund |
Vanguard Materials Index Fund |
Vanguard Utilities Index Fund |
About Your Fund’s Expenses | 1 |
Communication Services Index Fund | 4 |
Consumer Discretionary Index Fund | 15 |
Consumer Staples Index Fund | 26 |
Energy Index Fund | 36 |
Financials Index Fund | 47 |
Health Care Index Fund | 60 |
Industrials Index Fund | 74 |
Information Technology Index Fund | 87 |
Materials Index Fund | 100 |
Utilities Index Fund | 111 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Communication Services Index Fund | |||
ETF Shares | $1,000.00 | $805.00 | $0.45 |
Admiral™ Shares | 1,000.00 | 804.90 | 0.45 |
Consumer Discretionary Index Fund | |||
ETF Shares | $1,000.00 | $929.70 | $0.48 |
Admiral Shares | 1,000.00 | 929.60 | 0.48 |
Consumer Staples Index Fund | |||
ETF Shares | $1,000.00 | $1,045.40 | $0.51 |
Admiral Shares | 1,000.00 | 1,045.40 | 0.51 |
Energy Index Fund | |||
ETF Shares | $1,000.00 | $1,478.30 | $0.61 |
Admiral Shares | 1,000.00 | 1,478.20 | 0.61 |
Financials Index Fund | |||
ETF Shares | $1,000.00 | $1,010.50 | $0.50 |
Admiral Shares | 1,000.00 | 1,010.30 | 0.50 |
Health Care Index Fund | |||
ETF Shares | $1,000.00 | $932.60 | $0.48 |
Admiral Shares | 1,000.00 | 932.70 | 0.48 |
Industrials Index Fund | |||
ETF Shares | $1,000.00 | $956.60 | $0.49 |
Admiral Shares | 1,000.00 | 956.70 | 0.49 |
Information Technology Index Fund | |||
ETF Shares | $1,000.00 | $950.90 | $0.48 |
Admiral Shares | 1,000.00 | 950.80 | 0.48 |
Materials Index Fund | |||
ETF Shares | $1,000.00 | $992.80 | $0.49 |
Admiral Shares | 1,000.00 | 992.80 | 0.49 |
Utilities Index Fund | |||
ETF Shares | $1,000.00 | $1,007.20 | $0.50 |
Admiral Shares | 1,000.00 | 1,007.40 | 0.50 |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Hypothetical 5% Yearly Return | |||
Communication Services Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Consumer Discretionary Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Consumer Staples Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Energy Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Financials Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Health Care Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Industrials Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Information Technology Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Materials Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Utilities Index Fund | |||
ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
Admiral Shares | 1,000.00 | 1,024.30 | 0.50 |
Diversified Telecommunication Services | 12.6% |
Entertainment | 21.3 |
Interactive Media & Services | 42.7 |
Media | 20.7 |
Wireless Telecommunication Services | 2.7 |
Shares | Market Value• ($000) | ||
Common Stocks (99.8%) | |||
Diversified Telecommunication Services (12.6%) | |||
Verizon Communications Inc. | 3,333,715 | 178,920 | |
AT&T Inc. | 7,437,441 | 176,193 | |
Lumen Technologies Inc. | 2,127,525 | 22,041 | |
* | Liberty Global plc Class C | 844,160 | 21,838 |
* | Iridium Communications Inc. | 466,065 | 18,452 |
* | Frontier Communications Parent Inc. | 618,515 | 17,040 |
* | Liberty Global plc Class A | 648,728 | 16,724 |
Cogent Communications Holdings Inc. | 168,354 | 10,674 | |
* | Liberty Latin America Ltd. Class C | 617,582 | 6,231 |
* | EchoStar Corp. Class A | 147,048 | 3,579 |
* | Globalstar Inc. | 2,815,191 | 3,322 |
* | Radius Global Infrastructure Inc. Class A (XNMS) | 237,460 | 3,054 |
* | Bandwidth Inc. Class A | 86,387 | 2,639 |
* | Anterix Inc. | 46,219 | 2,463 |
* | Consolidated Communications Holdings Inc. | 290,748 | 2,070 |
* | Liberty Latin America Ltd. Class A | 169,324 | 1,702 |
ATN International Inc. | 43,615 | 1,454 | |
488,396 | |||
Entertainment (21.2%) | |||
* | Walt Disney Co. | 1,806,747 | 268,230 |
* | Netflix Inc. | 440,440 | 173,762 |
Activision Blizzard Inc. | 999,897 | 81,492 | |
Electronic Arts Inc. | 389,628 | 50,687 | |
* | Live Nation Entertainment Inc. | 300,987 | 36,365 |
* | Take-Two Interactive Software Inc. | 199,614 | 32,337 |
* | Zynga Inc. Class A | 3,145,548 | 28,562 |
* | Liberty Media Corp.-Liberty Formula One Class C | 453,008 | 27,511 |
* | Roku Inc. | 177,144 | 24,717 |
Warner Music Group Corp. Class A | 479,707 | 17,375 | |
*,1 | AMC Entertainment Holdings Inc. Class A | 870,933 | 16,426 |
World Wrestling Entertainment Inc. Class A | 177,184 | 10,500 | |
* | Madison Square Garden Sports Corp. | 57,662 | 9,976 |
* | Madison Square Garden Entertainment Corp. | 95,724 | 7,501 |
* | Cinemark Holdings Inc. | 399,171 | 7,001 |
* | Playtika Holding Corp. | 321,454 | 6,622 |
* | Lions Gate Entertainment Corp. Class A | 340,304 | 5,227 |
* | Lions Gate Entertainment Corp. Class B | 349,612 | 4,982 |
Shares | Market Value• ($000) | ||
* | Imax Corp. | 198,215 | 4,099 |
* | Liberty Media Corp.- Liberty Braves Class C | 153,287 | 3,786 |
* | Marcus Corp. | 85,885 | 1,561 |
*,1 | Skillz Inc. Class A | 393,369 | 1,223 |
* | Liberty Media Corp.- Liberty Braves Class A | 31,826 | 816 |
* | CuriosityStream Inc. | 113,061 | 414 |
821,172 | |||
Interactive Media & Services (42.6%) | |||
* | Meta Platforms Inc. Class A | 2,351,677 | 496,274 |
* | Alphabet Inc. Class A | 169,245 | 457,154 |
* | Alphabet Inc. Class C | 154,197 | 415,996 |
* | Snap Inc. Class A | 1,318,299 | 52,653 |
* | Match Group Inc. | 362,254 | 40,388 |
* | Twitter Inc. | 1,088,347 | 38,691 |
* | ZoomInfo Technologies Inc. Class A | 412,406 | 22,555 |
* | IAC/InterActiveCorp. | 191,774 | 22,008 |
* | Pinterest Inc. Class A | 761,724 | 20,376 |
* | Ziff Davis Inc. | 166,728 | 16,773 |
* | Cargurus Inc. | 315,666 | 15,294 |
* | TripAdvisor Inc. | 391,195 | 9,952 |
* | Yelp Inc. Class A | 288,785 | 9,787 |
* | Vimeo Inc. | 578,925 | 7,520 |
* | Bumble Inc. Class A | 278,420 | 7,136 |
* | Cars.com Inc. | 270,834 | 4,382 |
* | Eventbrite Inc. Class A | 281,819 | 4,258 |
* | QuinStreet Inc. | 201,648 | 2,269 |
* | Angi Inc. Class A | 271,637 | 1,872 |
*,1 | fuboTV Inc. | 194,667 | 1,664 |
* | ZipRecruiter Inc. Class A | 81,402 | 1,626 |
* | Mediaalpha Inc. Class A | 61,656 | 885 |
1,649,513 | |||
Media (20.6%) | |||
Comcast Corp. Class A | 3,702,420 | 173,125 | |
* | Charter Communications Inc. Class A | 151,994 | 91,467 |
Omnicom Group Inc. | 429,547 | 36,035 | |
* | Liberty Broadband Corp. Class C | 217,268 | 31,873 |
Paramount Global Class B | 1,028,001 | 31,467 | |
Interpublic Group of Cos. Inc. | 813,886 | 29,951 | |
Fox Corp. Class A | 694,963 | 29,070 | |
* | Discovery Inc. Class C | 890,179 | 24,898 |
Nexstar Media Group Inc. Class A | 131,332 | 24,303 | |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 453,094 | 22,800 |
News Corp. Class A | 1,020,430 | 22,776 | |
* | DISH Network Corp. Class A | 673,969 | 21,540 |
New York Times Co. Class A | 477,233 | 20,993 | |
Fox Corp. Class B | 547,116 | 20,933 |
Shares | Market Value• ($000) | ||
Cable One Inc. | 13,724 | 19,664 | |
TEGNA Inc. | 824,362 | 18,894 | |
* | Discovery Inc. Class A | 673,550 | 18,893 |
* | Liberty Broadband Corp. Class A | 115,274 | 16,693 |
1 | Sirius XM Holdings Inc. | 2,691,396 | 16,579 |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 324,520 | 16,343 |
News Corp. Class B | 511,868 | 11,481 | |
* | iHeartMedia Inc. Class A | 467,457 | 10,027 |
* | Altice USA Inc. Class A | 851,892 | 9,848 |
John Wiley & Sons Inc. Class A | 174,582 | 8,783 | |
* | TechTarget Inc. | 99,478 | 7,797 |
* | Cardlytics Inc. | 129,696 | 7,522 |
Gray Television Inc. | 313,216 | 7,339 | |
* | Magnite Inc. | 489,438 | 7,136 |
Sinclair Broadcast Group Inc. Class A | 192,792 | 5,784 | |
* | Clear Channel Outdoor Holdings Inc. | 1,293,767 | 4,839 |
* | EW Scripps Co. Class A | 207,514 | 4,619 |
* | AMC Networks Inc. Class A | 108,530 | 4,499 |
Scholastic Corp. | 102,857 | 4,328 | |
* | WideOpenWest Inc. | 205,001 | 3,483 |
* | Gannett Co. Inc. | 531,887 | 2,638 |
* | Thryv Holdings Inc. | 79,735 | 2,424 |
* | Advantage Solutions Inc. | 250,243 | 1,969 |
* | Boston Omaha Corp. Class A | 67,184 | 1,881 |
* | Loyalty Ventures Inc. | 77,121 | 1,851 |
* | PubMatic Inc. Class A | 35,056 | 1,073 |
797,618 | |||
Wireless Telecommunication Services (2.8%) | |||
* | T-Mobile US Inc. | 739,117 | 91,067 |
Telephone and Data Systems Inc. | 379,605 | 6,586 | |
Shenandoah Telecommunications Co. | 186,271 | 4,163 | |
* | Gogo Inc. | 193,774 | 2,759 |
* | United States Cellular Corp. | 52,735 | 1,451 |
106,026 | |||
Total Common Stocks (Cost $3,860,683) | 3,862,725 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (1.1%) | |||
Money Market Fund (1.1%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $43,143) | 431,488 | 43,145 |
Total Investments (100.9%) (Cost $3,903,826) | 3,905,870 | ||
Other Assets and Liabilities—Net (-0.9%) | (35,459) | ||
Net Assets (100.0%) | 3,870,411 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $31,114,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $33,570,000 was received for securities on loan. |
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) |
Pinterest Inc. Class A | 8/31/22 | BANA | 2,862 | (0.070) | — | — |
Sirius XM Holdings Inc. | 1/31/23 | GSI | 4,030 | (0.070) | 151 | — |
151 | — |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $3,860,683) | 3,862,725 |
Affiliated Issuers (Cost $43,143) | 43,145 |
Total Investments in Securities | 3,905,870 |
Investment in Vanguard | 135 |
Cash | 227 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 240 |
Receivables for Investment Securities Sold | 96,699 |
Receivables for Accrued Income | 362 |
Receivables for Capital Shares Issued | 19 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 151 |
Total Assets | 4,003,703 |
Liabilities | |
Payables for Investment Securities Purchased | 99,216 |
Collateral for Securities on Loan | 33,570 |
Payables for Capital Shares Redeemed | 368 |
Payables to Vanguard | 138 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | — |
Total Liabilities | 133,292 |
Net Assets | 3,870,411 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 3,963,675 |
Total Distributable Earnings (Loss) | (93,264) |
Net Assets | 3,870,411 |
ETF Shares—Net Assets | |
Applicable to 31,495,524 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,776,831 |
Net Asset Value Per Share—ETF Shares | $119.92 |
Admiral Shares—Net Assets | |
Applicable to 1,531,333 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 93,580 |
Net Asset Value Per Share—Admiral Shares | $61.11 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 21,707 |
Interest1 | 3 |
Securities Lending—Net | 204 |
Total Income | 21,914 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 215 |
Management and Administrative— ETF Shares | 1,763 |
Management and Administrative— Admiral Shares | 44 |
Marketing and Distribution— ETF Shares | 79 |
Marketing and Distribution— Admiral Shares | 3 |
Custodian Fees | 7 |
Shareholders’ Reports—ETF Shares | 77 |
Shareholders’ Reports—Admiral Shares | 1 |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 8 |
Total Expenses | 2,198 |
Net Investment Income | 19,716 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 273,148 |
Swap Contracts | (2,980) |
Realized Net Gain (Loss) | 270,168 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (1,239,760) |
Swap Contracts | 12 |
Change in Unrealized Appreciation (Depreciation) | (1,239,748) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (949,864) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $3,000, ($7,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $278,925,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 19,716 | 29,060 | |
Realized Net Gain (Loss) | 270,168 | 376,670 | |
Change in Unrealized Appreciation (Depreciation) | (1,239,748) | 803,415 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (949,864) | 1,209,145 | |
Distributions | |||
ETF Shares | (26,156) | (24,537) | |
Admiral Shares | (673) | (631) | |
Total Distributions | (26,829) | (25,168) | |
Capital Share Transactions | |||
ETF Shares | (58,441) | 719,965 | |
Admiral Shares | (6,124) | 26,851 | |
Net Increase (Decrease) from Capital Share Transactions | (64,565) | 746,816 | |
Total Increase (Decrease) | (1,041,258) | 1,930,793 | |
Net Assets | |||
Beginning of Period | 4,911,669 | 2,980,876 | |
End of Period | 3,870,411 | 4,911,669 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $149.87 | $108.04 | $87.24 | $86.83 | $93.54 | $95.16 |
Investment Operations | ||||||
Net Investment Income1 | .606 | 1.018 | 1.005 | .917 | 3.067 | 3.108 |
Net Realized and Unrealized Gain (Loss) on Investments | (29.732) | 41.708 | 20.743 | .316 | (6.297) | (1.587) |
Total from Investment Operations | (29.126) | 42.726 | 21.748 | 1.233 | (3.230) | 1.521 |
Distributions | ||||||
Dividends from Net Investment Income | (.824) | (.896) | (.948) | (.823) | (3.480) | (3.141) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.824) | (.896) | (.948) | (.823) | (3.480) | (3.141) |
Net Asset Value, End of Period | $119.92 | $149.87 | $108.04 | $87.24 | $86.83 | $93.54 |
Total Return | -19.50% | 39.75% | 25.15% | 1.47% | -3.50% | 1.62% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $3,777 | $4,787 | $2,914 | $2,016 | $1,015 | $1,388 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 0.89% | 0.80% | 1.09% | 1.09% | 3.48% | 3.26% |
Portfolio Turnover Rate2 | 10% | 15% | 15% | 33% | 84% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $76.38 | $55.06 | $44.46 | $44.25 | $47.67 | $48.50 |
Investment Operations | ||||||
Net Investment Income1 | .313 | .519 | .512 | .470 | 1.554 | 1.601 |
Net Realized and Unrealized Gain (Loss) on Investments | (15.163) | 21.259 | 10.571 | .157 | (3.199) | (.829) |
Total from Investment Operations | (14.850) | 21.778 | 11.083 | .627 | (1.645) | .772 |
Distributions | ||||||
Dividends from Net Investment Income | (.420) | (.458) | (.483) | (.417) | (1.775) | (1.602) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.420) | (.458) | (.483) | (.417) | (1.775) | (1.602) |
Net Asset Value, End of Period | $61.11 | $76.38 | $55.06 | $44.46 | $44.25 | $47.67 |
Total Return2 | -19.51% | 39.76% | 25.16% | 1.46% | -3.48% | 1.61% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $94 | $124 | $67 | $50 | $46 | $50 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 0.90% | 0.79% | 1.10% | 1.09% | 3.48% | 3.26% |
Portfolio Turnover Rate3 | 10% | 15% | 15% | 33% | 84% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 3,862,725 | — | — | 3,862,725 |
Temporary Cash Investments | 43,145 | — | — | 43,145 |
Total | 3,905,870 | — | — | 3,905,870 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 151 | — | 151 |
Liabilities | ||||
Swap Contracts | — | — | — | — |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 3,912,941 |
Gross Unrealized Appreciation | 407,229 |
Gross Unrealized Depreciation | (414,300) |
Net Unrealized Appreciation (Depreciation) | (7,071) |
E. | During the six months ended February 28, 2022, the fund purchased $1,171,698,000 of investment securities and sold $1,243,623,000 of investment securities, other than temporary cash investments. Purchases and sales include $718,260,000 and $813,709,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 755,849 | 5,753 | 1,693,617 | 12,776 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (814,290) | (6,200) | (973,652) | (7,800) | |
Net Increase (Decrease)—ETF Shares | (58,441) | (447) | 719,965 | 4,976 | |
Admiral Shares | |||||
Issued | 23,759 | 341 | 58,573 | 900 | |
Issued in Lieu of Cash Distributions | 564 | 8 | 544 | 9 | |
Redeemed | (30,447) | (444) | (32,266) | (504) | |
Net Increase (Decrease)—Admiral Shares | (6,124) | (95) | 26,851 | 405 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Auto Components | 2.5% |
Automobiles | 16.2 |
Distributors | 1.0 |
Diversified Consumer Services | 1.4 |
Hotels, Restaurants & Leisure | 17.8 |
Household Durables | 4.3 |
Internet & Direct Marketing Retail | 25.6 |
Leisure Products | 1.4 |
Multiline Retail | 4.0 |
Other | 0.0 |
Specialty Retail | 19.2 |
Textiles, Apparel & Luxury Goods | 6.6 |
Shares | Market Value• ($000) | ||
Common Stocks (100.0%) | |||
Auto Components (2.5%) | |||
* | Aptiv plc | 350,708 | 45,396 |
BorgWarner Inc. (XNYS) | 349,675 | 14,340 | |
Lear Corp. | 82,846 | 13,035 | |
Autoliv Inc. | 123,117 | 10,836 | |
Gentex Corp. | 357,952 | 10,835 | |
* | Fox Factory Holding Corp. | 65,050 | 7,677 |
* | Goodyear Tire & Rubber Co. | 479,412 | 7,426 |
* | Adient plc | 151,920 | 6,798 |
* | Veoneer Inc. | 186,680 | 6,618 |
* | Visteon Corp. | 46,693 | 5,611 |
* | Gentherm Inc. | 63,740 | 5,408 |
LCI Industries | 43,078 | 5,364 | |
* | Dorman Products Inc. | 50,421 | 4,710 |
Dana Inc. | 249,158 | 4,639 | |
* | Tenneco Inc. Class A | 220,641 | 4,254 |
* | American Axle & Manufacturing Holdings Inc. | 302,667 | 2,803 |
Standard Motor Products Inc. | 62,595 | 2,736 | |
* | Modine Manufacturing Co. | 164,684 | 1,663 |
* | Stoneridge Inc. | 83,752 | 1,383 |
* | XPEL Inc. | 4,507 | 327 |
Patrick Industries Inc. | 4,356 | 311 | |
* | Luminar Technologies Inc. Class A | 17,682 | 248 |
*,1 | QuantumScape Corp. Class A | 10,325 | 167 |
* | XL Fleet Corp. | 72,556 | 141 |
162,726 | |||
Automobiles (16.2%) | |||
* | Tesla Inc. | 1,009,049 | 878,307 |
Ford Motor Co. | 4,990,632 | 87,635 | |
* | General Motors Co. | 1,664,120 | 77,748 |
Harley-Davidson Inc. | 233,134 | 9,628 | |
Thor Industries Inc. | 83,488 | 7,556 | |
Winnebago Industries Inc. | 62,744 | 4,020 | |
*,1 | Fisker Inc. | 20,748 | 253 |
*,1 | Lucid Group Inc. | 7,387 | 214 |
*,1 | Canoo Inc. | 36,279 | 208 |
* | Rivian Automotive Inc. Class A | 2,858 | 193 |
*,1 | Lordstown Motors Corp. Class A | 68,103 | 175 |
* | Workhorse Group Inc. | 54,247 | 170 |
*,1 | Electric Last Mile Solutions Inc. | 41,618 | 91 |
1,066,198 | |||
Distributors (1.0%) | |||
Pool Corp. | 54,796 | 25,128 | |
Genuine Parts Co. | 194,642 | 23,777 | |
LKQ Corp. | 385,571 | 18,103 | |
* | Funko Inc. Class A | 96,852 | 1,691 |
68,699 |
Shares | Market Value• ($000) | ||
Diversified Consumer Services (1.4%) | |||
Service Corp. International | 244,263 | 14,863 | |
* | Bright Horizons Family Solutions Inc. | 86,350 | 11,281 |
* | Terminix Global Holdings Inc. | 200,674 | 8,541 |
H&R Block Inc. | 311,005 | 7,716 | |
* | Grand Canyon Education Inc. | 74,861 | 6,500 |
* | Houghton Mifflin Harcourt Co. | 293,424 | 6,147 |
* | Chegg Inc. | 176,719 | 5,526 |
Graham Holdings Co. Class B | 7,720 | 4,641 | |
* | frontdoor Inc. | 137,251 | 4,124 |
* | Stride Inc. | 106,008 | 3,560 |
Carriage Services Inc. Class A | 65,416 | 3,219 | |
* | OneSpaWorld Holdings Ltd. | 277,026 | 2,864 |
Laureate Education Inc. Class A | 236,858 | 2,568 | |
Strategic Education Inc. | 43,175 | 2,548 | |
* | Adtalem Global Education Inc. | 106,528 | 2,214 |
* | Perdoceo Education Corp. | 195,424 | 2,046 |
* | WW International Inc. | 114,569 | 1,168 |
* | Mister Car Wash Inc. | 20,131 | 323 |
*,1 | Beachbody Co. Inc. | 121,102 | 242 |
* | Coursera Inc. | 10,332 | 210 |
* | Vivint Smart Home Inc. | 27,824 | 200 |
* | 2U Inc. | 14,406 | 151 |
90,652 | |||
Hotels, Restaurants & Leisure (17.8%) | |||
McDonald's Corp. | 934,296 | 228,688 | |
Starbucks Corp. | 1,476,782 | 135,554 | |
* | Booking Holdings Inc. | 51,693 | 112,290 |
* | Marriott International Inc. Class A | 355,441 | 60,475 |
* | Hilton Worldwide Holdings Inc. | 360,107 | 53,606 |
* | Chipotle Mexican Grill Inc. Class A | 34,664 | 52,805 |
Yum! Brands Inc. | 382,349 | 46,868 | |
* | Expedia Group Inc. | 185,227 | 36,325 |
Darden Restaurants Inc. | 176,516 | 25,634 | |
* | Royal Caribbean Cruises Ltd. | 308,256 | 24,882 |
MGM Resorts International | 516,701 | 22,885 | |
Domino's Pizza Inc. | 50,597 | 21,869 | |
* | Caesars Entertainment Inc. | 256,570 | 21,601 |
* | Las Vegas Sands Corp. | 467,241 | 20,026 |
* | Airbnb Inc. Class A | 131,651 | 19,944 |
* | Carnival Corp. | 955,176 | 19,419 |
Vail Resorts Inc. | 56,852 | 14,813 | |
Churchill Downs Inc. | 52,796 | 12,717 | |
* | Wynn Resorts Ltd. | 144,987 | 12,544 |
Aramark | 334,532 | 12,364 |
Shares | Market Value• ($000) | ||
Wyndham Hotels & Resorts Inc. | 141,628 | 12,238 | |
* | Penn National Gaming Inc. | 230,511 | 11,837 |
* | Norwegian Cruise Line Holdings Ltd. | 554,848 | 10,814 |
* | Planet Fitness Inc. Class A | 124,852 | 10,566 |
Marriott Vacations Worldwide Corp. | 62,404 | 10,026 | |
Texas Roadhouse Inc. Class A | 101,920 | 9,673 | |
* | Boyd Gaming Corp. | 133,655 | 9,481 |
Choice Hotels International Inc. | 60,394 | 8,718 | |
* | Hyatt Hotels Corp. Class A | 82,146 | 7,977 |
Travel + Leisure Co. | 137,310 | 7,696 | |
* | Hilton Grand Vacations Inc. | 142,745 | 7,403 |
Wendy's Co. | 315,633 | 7,178 | |
Wingstop Inc. | 47,436 | 6,895 | |
* | SeaWorld Entertainment Inc. | 95,782 | 6,646 |
* | Scientific Games Corp. Class A | 104,784 | 6,593 |
Red Rock Resorts Inc. Class A | 121,568 | 6,112 | |
* | Six Flags Entertainment Corp. | 133,384 | 5,824 |
Papa John's International Inc. | 53,098 | 5,672 | |
Cracker Barrel Old Country Store Inc. | 38,686 | 5,194 | |
* | Everi Holdings Inc. | 210,896 | 4,935 |
* | Shake Shack Inc. Class A | 56,899 | 4,251 |
* | Dave & Buster's Entertainment Inc. | 91,823 | 3,980 |
* | Bloomin' Brands Inc. | 153,966 | 3,789 |
* | Golden Entertainment Inc. | 64,651 | 3,681 |
* | Cheesecake Factory Inc. | 84,592 | 3,620 |
Jack in the Box Inc. | 41,502 | 3,580 | |
* | Brinker International Inc. | 81,525 | 3,468 |
* | Playa Hotels & Resorts NV | 365,709 | 3,456 |
* | Monarch Casino & Resort Inc. | 41,410 | 3,226 |
Dine Brands Global Inc. | 38,087 | 3,193 | |
* | Denny's Corp. | 175,473 | 2,776 |
Ruth's Hospitality Group Inc. | 109,737 | 2,723 | |
* | Accel Entertainment Inc. Class A | 201,343 | 2,636 |
* | Bally's Corp. | 70,848 | 2,552 |
* | Lindblad Expeditions Holdings Inc. | 117,512 | 2,083 |
* | Chuy's Holdings Inc. | 60,528 | 1,973 |
* | BJ's Restaurants Inc. | 56,339 | 1,807 |
* | El Pollo Loco Holdings Inc. | 96,852 | 1,285 |
* | Golden Nugget Online Gaming Inc. | 26,216 | 225 |
* | DraftKings Inc. Class A | 9,305 | 220 |
* | Rush Street Interactive Inc. | 19,744 | 204 |
Shares | Market Value• ($000) | ||
* | GAN Ltd. | 29,652 | 198 |
1,171,713 | |||
Household Durables (4.3%) | |||
DR Horton Inc. | 446,947 | 38,169 | |
Lennar Corp. Class A | 362,214 | 32,556 | |
Garmin Ltd. | 196,091 | 21,656 | |
PulteGroup Inc. | 361,329 | 17,944 | |
Whirlpool Corp. | 86,702 | 17,450 | |
Newell Brands Inc. | 568,247 | 13,496 | |
* | Mohawk Industries Inc. | 85,208 | 11,996 |
* | TopBuild Corp. | 49,660 | 10,661 |
Toll Brothers Inc. | 182,311 | 9,892 | |
Tempur Sealy International Inc. | 282,236 | 9,317 | |
* | Helen of Troy Ltd. | 39,486 | 8,121 |
Leggett & Platt Inc. | 204,372 | 7,578 | |
* | Meritage Homes Corp. | 65,733 | 6,480 |
* | Skyline Champion Corp. | 95,341 | 6,411 |
* | Taylor Morrison Home Corp. Class A | 211,632 | 6,243 |
KB Home | 139,633 | 5,391 | |
* | Tri Pointe Homes Inc. | 237,142 | 5,305 |
* | Cavco Industries Inc. | 17,780 | 4,847 |
* | LGI Homes Inc. | 37,369 | 4,713 |
MDC Holdings Inc. | 104,142 | 4,618 | |
* | Sonos Inc. | 157,051 | 4,302 |
Installed Building Products Inc. | 43,108 | 4,169 | |
Century Communities Inc. | 62,504 | 3,983 | |
* | M/I Homes Inc. | 64,842 | 3,196 |
* | iRobot Corp. | 48,741 | 3,030 |
La-Z-Boy Inc. | 97,325 | 2,840 | |
* | GoPro Inc. Class A | 298,064 | 2,563 |
* | Green Brick Partners Inc. | 106,750 | 2,475 |
Ethan Allen Interiors Inc. | 87,413 | 2,278 | |
* | Tupperware Brands Corp. | 110,151 | 2,008 |
* | Beazer Homes USA Inc. | 119,509 | 1,956 |
* | Lovesac Co. | 39,685 | 1,686 |
* | Universal Electronics Inc. | 44,541 | 1,480 |
* | Dream Finders Homes Inc. Class A | 19,382 | 390 |
* | Purple Innovation Inc. Class A | 27,026 | 163 |
*,1 | Vuzix Corp. | 25,752 | 146 |
279,509 | |||
Internet & Direct Marketing Retail (25.6%) | |||
* | Amazon.com Inc. | 489,899 | 1,504,607 |
* | MercadoLibre Inc. | 57,556 | 64,845 |
eBay Inc. | 816,142 | 44,553 | |
* | Etsy Inc. | 166,112 | 25,729 |
* | Wayfair Inc. Class A | 89,063 | 12,546 |
*,1 | Chewy Inc. Class A | 110,370 | 5,203 |
Shutterstock Inc. | 42,668 | 3,863 | |
* | Overstock.com Inc. | 66,820 | 3,802 |
Qurate Retail Inc. Series A | 613,073 | 3,378 | |
* | Revolve Group Inc. | 67,730 | 3,212 |
PetMed Express Inc. | 66,492 | 1,792 | |
* | Groupon Inc. Class A | 66,464 | 1,444 |
* | Quotient Technology Inc. | 203,024 | 1,348 |
* | 1-800-Flowers.com Inc. Class A | 81,734 | 1,265 |
* | Stitch Fix Inc. Class A | 92,401 | 1,160 |
* | Lands' End Inc. | 65,059 | 1,103 |
* | RealReal Inc. | 81,862 | 729 |
*,1 | Xometry Inc. Class A | 6,152 | 301 |
* | Poshmark Inc. Class A | 17,004 | 254 |
* | BARK Inc. | 60,599 | 191 |
* | ContextLogic Inc. Class A | 77,203 | 183 |
* | DoorDash Inc. Class A | 1,460 | 153 |
Shares | Market Value• ($000) | ||
* | ThredUP Inc. Class A | 17,498 | 149 |
* | Porch Group Inc. | 15,750 | 128 |
1,681,938 | |||
Leisure Products (1.4%) | |||
Hasbro Inc. | 184,571 | 17,913 | |
* | Mattel Inc. | 528,386 | 13,199 |
Brunswick Corp. | 116,989 | 11,175 | |
Polaris Inc. | 87,015 | 10,573 | |
* | Peloton Interactive Inc. Class A | 292,659 | 8,505 |
* | YETI Holdings Inc. | 115,129 | 7,087 |
* | Vista Outdoor Inc. | 117,873 | 4,296 |
* | Callaway Golf Co. | 169,457 | 4,192 |
Acushnet Holdings Corp. | 81,386 | 3,565 | |
* | Malibu Boats Inc. Class A | 46,610 | 3,247 |
Sturm Ruger & Co. Inc. | 44,505 | 3,223 | |
Smith & Wesson Brands Inc. | 153,674 | 2,709 | |
Johnson Outdoors Inc. Class A | 18,755 | 1,547 | |
Clarus Corp. | 12,076 | 275 | |
* | Latham Group Inc. | 15,707 | 275 |
* | AMMO Inc. | 50,989 | 240 |
* | Hayward Holdings Inc. | 12,477 | 223 |
92,244 | |||
Multiline Retail (4.0%) | |||
Target Corp. | 604,491 | 120,759 | |
Dollar General Corp. | 300,958 | 59,692 | |
* | Dollar Tree Inc. | 296,126 | 42,073 |
Kohl's Corp. | 226,531 | 12,600 | |
Macy's Inc. | 462,274 | 11,982 | |
Dillard's Inc. Class A | 16,767 | 4,204 | |
* | Ollie's Bargain Outlet Holdings Inc. | 89,802 | 3,878 |
* | Nordstrom Inc. | 184,760 | 3,832 |
Big Lots Inc. | 73,509 | 2,555 | |
Franchise Group Inc. | 7,765 | 327 | |
261,902 | |||
Other (0.0%)2 | |||
*,3 | Media General Inc. CVR | 69,182 | 3 |
Specialty Retail (19.2%) | |||
Home Depot Inc. | 1,298,925 | 410,240 | |
Lowe's Cos. Inc. | 844,325 | 186,647 | |
TJX Cos. Inc. | 1,523,562 | 100,707 | |
* | O'Reilly Automotive Inc. | 86,939 | 56,444 |
* | AutoZone Inc. | 27,207 | 50,697 |
Ross Stores Inc. | 465,073 | 42,503 | |
Tractor Supply Co. | 151,989 | 30,974 | |
Best Buy Co. Inc. | 297,742 | 28,774 | |
* | Ulta Beauty Inc. | 70,165 | 26,277 |
* | CarMax Inc. | 222,053 | 24,277 |
* | Burlington Stores Inc. | 89,738 | 20,271 |
Bath & Body Works Inc. | 364,881 | 19,474 | |
Advance Auto Parts Inc. | 87,913 | 17,976 | |
Williams-Sonoma Inc. | 108,018 | 15,648 | |
Lithia Motors Inc. Class A | 42,164 | 14,370 | |
* | Carvana Co. Class A | 86,950 | 13,083 |
* | Five Below Inc. | 79,745 | 13,047 |
* | Floor & Decor Holdings Inc. Class A | 122,009 | 11,667 |
*,1 | GameStop Corp. Class A | 86,048 | 10,613 |
1 | Dick's Sporting Goods Inc. | 99,926 | 10,492 |
* | RH | 22,726 | 9,133 |
* | AutoNation Inc. | 74,303 | 8,520 |
Murphy USA Inc. | 43,391 | 7,843 | |
* | Asbury Automotive Group Inc. | 36,643 | 7,113 |
Shares | Market Value• ($000) | ||
Signet Jewelers Ltd. | 95,667 | 6,745 | |
* | Victoria's Secret & Co. | 123,157 | 6,605 |
Penske Automotive Group Inc. | 60,342 | 5,931 | |
Group 1 Automotive Inc. | 32,378 | 5,891 | |
* | Boot Barn Holdings Inc. | 61,804 | 5,378 |
American Eagle Outfitters Inc. | 250,362 | 5,278 | |
Gap Inc. | 340,972 | 4,961 | |
* | National Vision Holdings Inc. | 134,716 | 4,940 |
Foot Locker Inc. | 155,632 | 4,921 | |
* | Abercrombie & Fitch Co. Class A | 123,235 | 4,693 |
* | ODP Corp. | 102,691 | 4,518 |
* | Sally Beauty Holdings Inc. | 228,847 | 3,954 |
*,1 | Bed Bath & Beyond Inc. | 208,536 | 3,522 |
* | Urban Outfitters Inc. | 127,521 | 3,508 |
* | Genesco Inc. | 52,165 | 3,346 |
Sonic Automotive Inc. Class A | 62,122 | 3,337 | |
* | Sleep Number Corp. | 48,138 | 3,163 |
Monro Inc. | 66,833 | 3,120 | |
* | MarineMax Inc. | 62,334 | 2,852 |
Buckle Inc. | 77,509 | 2,790 | |
Camping World Holdings Inc. Class A | 88,777 | 2,726 | |
Winmark Corp. | 11,849 | 2,680 | |
* | Zumiez Inc. | 59,260 | 2,636 |
Rent-A-Center Inc. | 92,361 | 2,624 | |
Caleres Inc. | 121,685 | 2,526 | |
* | Children's Place Inc. | 39,578 | 2,492 |
Guess? Inc. | 108,887 | 2,385 | |
* | Designer Brands Inc. Class A | 176,569 | 2,304 |
Shoe Carnival Inc. | 77,416 | 2,257 | |
Hibbett Inc. | 44,319 | 1,998 | |
* | Conn's Inc. | 108,478 | 1,990 |
* | America's Car-Mart Inc. | 19,063 | 1,833 |
Haverty Furniture Cos. Inc. | 61,617 | 1,751 | |
* | LL Flooring Holdings Inc. | 90,800 | 1,458 |
Aaron's Co. Inc. | 56,912 | 1,195 | |
* | Leslie's Inc. | 15,986 | 341 |
* | Academy Sports & Outdoors Inc. | 9,408 | 305 |
* | Arko Corp. | 33,908 | 283 |
* | Petco Health & Wellness Co. Inc. Class A | 16,048 | 281 |
* | Sportsman's Warehouse Holdings Inc. | 20,246 | 231 |
* | GrowGeneration Corp. | 17,386 | 146 |
*,1 | Shift Technologies Inc. | 62,505 | 126 |
* | Vroom Inc. | 19,930 | 121 |
1,260,932 | |||
Textiles, Apparel & Luxury Goods (6.6%) | |||
NIKE Inc. Class B | 1,592,902 | 217,511 | |
* | Lululemon Athletica Inc. | 153,905 | 49,240 |
VF Corp. | 443,201 | 25,715 | |
Tapestry Inc. | 395,611 | 16,180 | |
* | Capri Holdings Ltd. | 216,673 | 14,677 |
* | Deckers Outdoor Corp. | 39,867 | 11,507 |
PVH Corp. | 107,191 | 10,493 | |
Ralph Lauren Corp. Class A | 75,769 | 10,005 | |
* | Skechers USA Inc. Class A | 211,302 | 9,716 |
Hanesbrands Inc. | 531,869 | 8,217 | |
* | Crocs Inc. | 97,188 | 8,138 |
Carter's Inc. | 72,291 | 6,989 | |
Steven Madden Ltd. | 143,926 | 6,140 |
Shares | Market Value• ($000) | ||
* | Under Armour Inc. Class A | 309,880 | 5,544 |
* | Under Armour Inc. Class C | 337,261 | 5,271 |
Columbia Sportswear Co. | 53,346 | 4,946 | |
Kontoor Brands Inc. | 89,428 | 4,430 | |
Oxford Industries Inc. | 40,567 | 3,586 | |
Wolverine World Wide Inc. | 147,297 | 3,392 | |
Levi Strauss & Co. Class A | 137,379 | 3,112 | |
* | G-III Apparel Group Ltd. | 107,909 | 2,993 |
Movado Group Inc. | 74,835 | 2,950 | |
* | Fossil Group Inc. | 154,067 | 2,083 |
* | PLBY Group Inc. | 9,265 | 148 |
432,983 | |||
Total Common Stocks (Cost $5,356,182) | 6,569,499 | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
4,5 | Vanguard Market Liquidity Fund, 0.138% (Cost $18,051) | 180,532 | 18,052 |
Total Investments (100.3%) (Cost $5,374,233) | 6,587,551 | ||
Other Assets and Liabilities—Net (-0.3%) | (19,486) | ||
Net Assets (100.0%) | 6,568,065 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $18,186,000. |
2 | “Other” represents securities that are not classified by the fund’s benchmark index. |
3 | Security value determined using significant unobservable inputs. |
4 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
5 | Collateral of $18,038,000 was received for securities on loan. |
CVR—Contingent Value Rights. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $5,356,182) | 6,569,499 |
Affiliated Issuers (Cost $18,051) | 18,052 |
Total Investments in Securities | 6,587,551 |
Investment in Vanguard | 233 |
Receivables for Investment Securities Sold | 54,147 |
Receivables for Accrued Income | 3,927 |
Receivables for Capital Shares Issued | 8,317 |
Total Assets | 6,654,175 |
Liabilities | |
Due to Custodian | 11,499 |
Payables for Investment Securities Purchased | 54,084 |
Collateral for Securities on Loan | 18,038 |
Payables for Capital Shares Redeemed | 2,253 |
Payables to Vanguard | 236 |
Total Liabilities | 86,110 |
Net Assets | 6,568,065 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 4,919,874 |
Total Distributable Earnings (Loss) | 1,648,191 |
Net Assets | 6,568,065 |
ETF Shares—Net Assets | |
Applicable to 19,847,002 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 5,881,908 |
Net Asset Value Per Share—ETF Shares | $296.36 |
Admiral Shares—Net Assets | |
Applicable to 4,472,986 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 686,157 |
Net Asset Value Per Share—Admiral Shares | $153.40 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 29,469 |
Interest1 | 1 |
Securities Lending—Net | 45 |
Total Income | 29,515 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 415 |
Management and Administrative— ETF Shares | 2,836 |
Management and Administrative— Admiral Shares | 307 |
Marketing and Distribution— ETF Shares | 106 |
Marketing and Distribution— Admiral Shares | 25 |
Custodian Fees | — |
Shareholders’ Reports—ETF Shares | 89 |
Shareholders’ Reports—Admiral Shares | 8 |
Trustees’ Fees and Expenses | 2 |
Other Expenses | 8 |
Total Expenses | 3,796 |
Net Investment Income | 25,719 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 619,190 |
Futures Contracts | 91 |
Realized Net Gain (Loss) | 619,281 |
Change in Unrealized Appreciation (Depreciation) of Investment Securities1 | (1,205,328) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (560,328) |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,000, ($1,000), and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $635,319,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 25,719 | 35,356 | |
Realized Net Gain (Loss) | 619,281 | 269,720 | |
Change in Unrealized Appreciation (Depreciation) | (1,205,328) | 1,240,876 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (560,328) | 1,545,952 | |
Distributions | |||
ETF Shares | (46,936) | (73,583) | |
Admiral Shares | (5,227) | (7,931) | |
Total Distributions | (52,163) | (81,514) | |
Capital Share Transactions | |||
ETF Shares | (223,316) | 1,320,560 | |
Admiral Shares | (6,946) | 162,859 | |
Net Increase (Decrease) from Capital Share Transactions | (230,262) | 1,483,419 | |
Total Increase (Decrease) | (842,753) | 2,947,857 | |
Net Assets | |||
Beginning of Period | 7,410,818 | 4,462,961 | |
End of Period | 6,568,065 | 7,410,818 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $320.99 | $246.86 | $178.51 | $180.85 | $141.74 | $126.45 |
Investment Operations | ||||||
Net Investment Income1 | 1.093 | 1.724 | 1.998 | 2.052 | 2.066 | 2.068 |
Net Realized and Unrealized Gain (Loss) on Investments | (23.515) | 76.697 | 68.603 | (2.391) | 39.031 | 15.248 |
Total from Investment Operations | (22.422) | 78.421 | 70.601 | (.339) | 41.097 | 17.316 |
Distributions | ||||||
Dividends from Net Investment Income | (2.208) | (4.291) | (2.251) | (2.001) | (1.987) | (2.026) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.208) | (4.291) | (2.251) | (2.001) | (1.987) | (2.026) |
Net Asset Value, End of Period | $296.36 | $320.99 | $246.86 | $178.51 | $180.85 | $141.74 |
Total Return | -7.03% | 32.39% | 39.98% | -0.14% | 29.22% | 13.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $5,882 | $6,658 | $4,026 | $3,049 | $3,199 | $2,198 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 0.64% | 0.60% | 1.06% | 1.20% | 1.28% | 1.53% |
Portfolio Turnover Rate2 | 2% | 8% | 10% | 9% | 28% | 6% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $166.15 | $127.78 | $92.40 | $93.61 | $73.36 | $65.45 |
Investment Operations | ||||||
Net Investment Income1 | .566 | .889 | 1.033 | 1.058 | 1.073 | 1.071 |
Net Realized and Unrealized Gain (Loss) on Investments | (12.174) | 39.704 | 35.512 | (1.232) | 20.205 | 7.890 |
Total from Investment Operations | (11.608) | 40.593 | 36.545 | (.174) | 21.278 | 8.961 |
Distributions | ||||||
Dividends from Net Investment Income | (1.142) | (2.223) | (1.165) | (1.036) | (1.028) | (1.051) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.142) | (2.223) | (1.165) | (1.036) | (1.028) | (1.051) |
Net Asset Value, End of Period | $153.40 | $166.15 | $127.78 | $92.40 | $93.61 | $73.36 |
Total Return2 | -7.04% | 32.39% | 40.01% | -0.14% | 29.24% | 13.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $686 | $753 | $437 | $321 | $328 | $204 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 0.64% | 0.60% | 1.06% | 1.20% | 1.28% | 1.53% |
Portfolio Turnover Rate3 | 2% | 8% | 10% | 9% | 28% | 6% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 6,569,496 | — | 3 | 6,569,499 |
Temporary Cash Investments | 18,052 | — | — | 18,052 |
Total | 6,587,548 | — | 3 | 6,587,551 |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 5,384,180 |
Gross Unrealized Appreciation | 1,374,859 |
Gross Unrealized Depreciation | (171,488) |
Net Unrealized Appreciation (Depreciation) | 1,203,371 |
E. | During the six months ended February 28, 2022, the fund purchased $1,034,476,000 of investment securities and sold $1,297,075,000 of investment securities, other than temporary cash investments. Purchases and sales include $866,040,000 and $1,153,684,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 938,820 | 2,830 | 1,907,066 | 6,682 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,162,136) | (3,725) | (586,506) | (2,250) | |
Net Increase (Decrease)—ETF Shares | (223,316) | (895) | 1,320,560 | 4,432 | |
Admiral Shares | |||||
Issued | 141,252 | 828 | 361,180 | 2,448 | |
Issued in Lieu of Cash Distributions | 4,574 | 28 | 7,024 | 57 | |
Redeemed | (152,772) | (913) | (205,345) | (1,392) | |
Net Increase (Decrease)—Admiral Shares | (6,946) | (57) | 162,859 | 1,113 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Beverages | 23.0% |
Food & Staples Retailing | 22.9 |
Food Products | 20.5 |
Household Products | 21.0 |
Personal Products | 4.4 |
Tobacco | 8.2 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Beverages (23.0%) | |||
Coca-Cola Co. | 11,208,052 | 697,589 | |
PepsiCo Inc. | 3,733,810 | 611,374 | |
Constellation Brands Inc. Class A | 549,285 | 118,437 | |
* | Monster Beverage Corp. | 1,325,849 | 111,902 |
Keurig Dr Pepper Inc. | 2,340,699 | 90,515 | |
Brown-Forman Corp. Class B | 1,042,544 | 68,005 | |
Molson Coors Beverage Co. Class B | 704,100 | 36,740 | |
* | Boston Beer Co. Inc. Class A | 42,373 | 16,248 |
Coca-Cola Consolidated Inc. | 29,964 | 14,890 | |
* | Celsius Holdings Inc. | 199,530 | 12,748 |
MGP Ingredients Inc. | 125,295 | 9,975 | |
National Beverage Corp. | 204,371 | 8,994 | |
* | Duckhorn Portfolio Inc. | 353,975 | 6,945 |
* | Vintage Wine Estates Inc. | 447,591 | 3,581 |
1,807,943 | |||
Food & Staples Retailing (22.9%) | |||
Costco Wholesale Corp. | 1,190,448 | 618,140 | |
Walmart Inc. | 4,114,810 | 556,158 | |
Sysco Corp. | 1,665,290 | 145,047 | |
Kroger Co. | 2,576,447 | 120,578 | |
Walgreens Boots Alliance Inc. | 2,503,982 | 115,408 | |
* | Performance Food Group Co. | 611,959 | 34,294 |
* | BJ's Wholesale Club Holdings Inc. | 537,441 | 33,789 |
* | US Foods Holding Corp | 813,947 | 31,817 |
Casey's General Stores Inc. | 145,586 | 27,382 | |
* | Sprouts Farmers Market Inc. | 574,098 | 16,350 |
* | United Natural Foods Inc. | 396,790 | 15,963 |
* | Grocery Outlet Holding Corp. | 478,350 | 13,303 |
Andersons Inc. | 269,762 | 12,301 | |
PriceSmart Inc. | 156,398 | 11,373 | |
Ingles Markets Inc. Class A | 130,175 | 10,703 | |
SpartanNash Co. | 362,958 | 10,214 | |
* | Chefs' Warehouse Inc. | 290,927 | 9,557 |
Weis Markets Inc. | 146,242 | 9,019 | |
*,1 | Rite Aid Corp. | 686,279 | 6,286 |
1,797,682 | |||
Food Products (20.5%) | |||
Mondelez International Inc. Class A | 4,582,477 | 300,061 | |
Archer-Daniels-Midland Co. | 1,894,554 | 148,628 |
Shares | Market Value• ($000) | ||
General Mills Inc. | 1,968,389 | 132,729 | |
Hershey Co. | 487,164 | 98,534 | |
Tyson Foods Inc. Class A | 980,044 | 90,811 | |
Kraft Heinz Co. | 2,235,765 | 87,687 | |
McCormick & Co. Inc. | 828,384 | 78,837 | |
Conagra Brands Inc. | 1,686,819 | 58,988 | |
Kellogg Co. | 879,137 | 56,212 | |
J M Smucker Co. | 379,704 | 51,165 | |
Hormel Foods Corp. | 1,043,111 | 49,694 | |
* | Darling Ingredients Inc. | 668,755 | 48,471 |
Bunge Ltd. | 420,085 | 43,920 | |
Lamb Weston Holdings Inc. | 536,395 | 35,633 | |
Campbell Soup Co. | 737,454 | 33,163 | |
* | Post Holdings Inc. | 236,122 | 24,826 |
Ingredion Inc. | 270,039 | 23,963 | |
Flowers Foods Inc. | 828,871 | 22,719 | |
* | Freshpet Inc. | 207,243 | 19,736 |
Sanderson Farms Inc. | 99,654 | 17,797 | |
* | Simply Good Foods Co. | 422,000 | 16,724 |
* | Hain Celestial Group Inc. | 449,175 | 16,332 |
Lancaster Colony Corp. | 95,623 | 16,085 | |
* | Hostess Brands Inc. Class A | 728,842 | 15,699 |
J & J Snack Foods Corp. | 84,033 | 13,758 | |
*,1 | Beyond Meat Inc. | 271,761 | 12,713 |
* | TreeHouse Foods Inc. | 316,819 | 12,435 |
1 | B&G Foods Inc. | 385,373 | 11,407 |
Cal-Maine Foods Inc. | 257,108 | 11,382 | |
Utz Brands Inc. | 562,510 | 8,578 | |
* | Pilgrim's Pride Corp. | 355,120 | 8,374 |
Calavo Growers Inc. | 189,915 | 8,108 | |
Fresh Del Monte Produce Inc. | 308,318 | 7,979 | |
John B Sanfilippo & Son Inc. | 98,542 | 7,836 | |
Tootsie Roll Industries Inc. | 193,983 | 6,547 | |
*,1 | Tattooed Chef Inc. | 504,939 | 6,130 |
* | Vital Farms Inc. | 198,755 | 2,832 |
* | Mission Produce Inc. | 175,298 | 2,275 |
1,608,768 | |||
Household Products (21.0%) | |||
Procter & Gamble Co. | 6,909,891 | 1,077,183 | |
Colgate-Palmolive Co. | 2,651,093 | 204,002 | |
Kimberly-Clark Corp. | 1,136,951 | 147,974 | |
Church & Dwight Co. Inc. | 864,600 | 84,601 | |
Clorox Co. | 421,678 | 61,476 | |
Spectrum Brands Holdings Inc. | 211,897 | 19,660 | |
WD-40 Co. | 71,908 | 15,237 | |
* | Central Garden & Pet Co. Class A | 293,009 | 12,904 |
Energizer Holdings Inc. | 350,627 | 11,707 | |
Reynolds Consumer Products Inc. | 390,334 | 11,620 |
Shares | Market Value• ($000) | ||
* | Central Garden & Pet Co. | 118,269 | 5,599 |
1,651,963 | |||
Personal Products (4.3%) | |||
Estee Lauder Cos. Inc. Class A | 734,242 | 217,578 | |
* | Herbalife Nutrition Ltd. | 468,403 | 16,666 |
* | Coty Inc. Class A | 1,616,113 | 14,820 |
Inter Parfums Inc. | 152,323 | 14,148 | |
Medifast Inc. | 75,071 | 13,963 | |
* | Beauty Health Co. | 697,551 | 13,519 |
Nu Skin Enterprises Inc. Class A | 256,832 | 11,914 | |
Edgewell Personal Care Co. | 313,258 | 11,177 | |
* | elf Beauty Inc. | 351,626 | 9,293 |
*,1 | BellRing Brands Inc. Class A | 351,357 | 8,984 |
* | USANA Health Sciences Inc. | 99,076 | 8,720 |
*,1 | Honest Co. Inc. | 337,115 | 1,948 |
342,730 | |||
Tobacco (8.2%) | |||
Philip Morris International Inc. | 3,189,093 | 322,322 | |
Altria Group Inc. | 5,819,446 | 298,479 | |
Vector Group Ltd. | 890,820 | 9,986 | |
Universal Corp. | 182,614 | 9,881 | |
Turning Point Brands Inc. | 174,360 | 5,845 | |
646,513 | |||
Total Common Stocks (Cost $6,598,679) | 7,855,599 | ||
Temporary Cash Investments (0.5%) | |||
Money Market Fund (0.5%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $40,706) | 407,109 | 40,707 |
Total Investments (100.4%) (Cost $6,639,385) | 7,896,306 | ||
Other Assets and Liabilities—Net (-0.4%) | (34,065) | ||
Net Assets (100.0%) | 7,862,241 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $20,405,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $20,616,000 was received for securities on loan, of which $20,610,000 is held in Vanguard Market Liquidity Fund and $6,000 is held in cash. |
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) |
Bunge Ltd. | 8/31/22 | BANA | 8,887 | (0.070) | 44 | — |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $6,598,679) | 7,855,599 |
Affiliated Issuers (Cost $40,706) | 40,707 |
Total Investments in Securities | 7,896,306 |
Investment in Vanguard | 253 |
Cash | 6 |
Receivables for Investment Securities Sold | 41,728 |
Receivables for Accrued Income | 5,947 |
Receivables for Capital Shares Issued | 3,881 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 44 |
Total Assets | 7,948,165 |
Liabilities | |
Due to Custodian | 1,334 |
Payables for Investment Securities Purchased | 56,543 |
Collateral for Securities on Loan | 20,616 |
Payables for Capital Shares Redeemed | 7,152 |
Payables to Vanguard | 279 |
Total Liabilities | 85,924 |
Net Assets | 7,862,241 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 6,598,226 |
Total Distributable Earnings (Loss) | 1,264,015 |
Net Assets | 7,862,241 |
ETF Shares—Net Assets | |
Applicable to 34,679,180 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,719,702 |
Net Asset Value Per Share—ETF Shares | $193.77 |
Admiral Shares—Net Assets | |
Applicable to 11,958,335 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,142,539 |
Net Asset Value Per Share—Admiral Shares | $95.54 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 80,665 |
Interest1 | 3 |
Securities Lending—Net | 530 |
Total Income | 81,198 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 381 |
Management and Administrative— ETF Shares | 2,586 |
Management and Administrative— Admiral Shares | 348 |
Marketing and Distribution— ETF Shares | 86 |
Marketing and Distribution— Admiral Shares | 27 |
Custodian Fees | 12 |
Shareholders’ Reports—ETF Shares | 82 |
Shareholders’ Reports—Admiral Shares | 14 |
Trustees’ Fees and Expenses | 2 |
Other Expenses | 8 |
Total Expenses | 3,546 |
Net Investment Income | 77,652 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 161,049 |
Swap Contracts | 1,012 |
Realized Net Gain (Loss) | 162,061 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 75,509 |
Swap Contracts | 344 |
Change in Unrealized Appreciation (Depreciation) | 75,853 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 315,566 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $3,000, ($7,000), and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $169,738,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 77,652 | 160,610 | |
Realized Net Gain (Loss) | 162,061 | 382,080 | |
Change in Unrealized Appreciation (Depreciation) | 75,853 | 342,560 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 315,566 | 885,250 | |
Distributions | |||
ETF Shares | (75,048) | (143,448) | |
Admiral Shares | (10,321) | (20,463) | |
Total Distributions | (85,369) | (163,911) | |
Capital Share Transactions | |||
ETF Shares | 606,789 | (432,751) | |
Admiral Shares | 271,254 | (37,372) | |
Net Increase (Decrease) from Capital Share Transactions | 878,043 | (470,123) | |
Total Increase (Decrease) | 1,108,240 | 251,216 | |
Net Assets | |||
Beginning of Period | 6,754,001 | 6,502,785 | |
End of Period | 7,862,241 | 6,754,001 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $187.61 | $167.31 | $154.72 | $140.13 | $140.15 | $139.97 |
Investment Operations | ||||||
Net Investment Income1 | 2.073 | 4.385 | 3.992 | 3.896 | 3.603 | 3.651 |
Net Realized and Unrealized Gain (Loss) on Investments | 6.383 | 20.341 | 12.658 | 14.346 | (.033) | .212 |
Total from Investment Operations | 8.456 | 24.726 | 16.650 | 18.242 | 3.570 | 3.863 |
Distributions | ||||||
Dividends from Net Investment Income | (2.296) | (4.427) | (4.060) | (3.652) | (3.590) | (3.683) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.296) | (4.427) | (4.060) | (3.652) | (3.590) | (3.683) |
Net Asset Value, End of Period | $193.77 | $187.61 | $167.31 | $154.72 | $140.13 | $140.15 |
Total Return | 4.54% | 15.01% | 11.01% | 13.24% | 2.60% | 2.83% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $6,720 | $5,908 | $5,712 | $5,296 | $3,983 | $3,780 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 2.17% | 2.50% | 2.58% | 2.71% | 2.60% | 2.63% |
Portfolio Turnover Rate2 | 2% | 8% | 3% | 6% | 8% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $92.51 | $82.50 | $76.29 | $69.09 | $69.10 | $69.02 |
Investment Operations | ||||||
Net Investment Income1 | 1.013 | 2.160 | 1.973 | 1.923 | 1.776 | 1.797 |
Net Realized and Unrealized Gain (Loss) on Investments | 3.148 | 10.032 | 6.239 | 7.076 | (.018) | .101 |
Total from Investment Operations | 4.161 | 12.192 | 8.212 | 8.999 | 1.758 | 1.898 |
Distributions | ||||||
Dividends from Net Investment Income | (1.131) | (2.183) | (2.002) | (1.799) | (1.768) | (1.818) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.131) | (2.183) | (2.002) | (1.799) | (1.768) | (1.818) |
Net Asset Value, End of Period | $95.54 | $92.51 | $82.50 | $76.29 | $69.09 | $69.10 |
Total Return2 | 4.54% | 15.04% | 11.03% | 13.24% | 2.59% | 2.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $1,143 | $846 | $791 | $710 | $587 | $742 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 2.15% | 2.50% | 2.59% | 2.71% | 2.60% | 2.63% |
Portfolio Turnover Rate3 | 2% | 8% | 3% | 6% | 8% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 7,855,599 | — | — | 7,855,599 |
Temporary Cash Investments | 40,707 | — | — | 40,707 |
Total | 7,896,306 | — | — | 7,896,306 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 44 | — | 44 |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 6,648,783 |
Gross Unrealized Appreciation | 1,524,506 |
Gross Unrealized Depreciation | (276,983) |
Net Unrealized Appreciation (Depreciation) | 1,247,523 |
E. | During the six months ended February 28, 2022, the fund purchased $1,484,735,000 of investment securities and sold $617,355,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,021,208,000 and $506,055,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 1,119,058 | 5,839 | 871,879 | 4,824 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (512,269) | (2,650) | (1,304,630) | (7,475) | |
Net Increase (Decrease)—ETF Shares | 606,789 | 3,189 | (432,751) | (2,651) | |
Admiral Shares | |||||
Issued | 362,314 | 3,780 | 211,742 | 2,456 | |
Issued in Lieu of Cash Distributions | 8,387 | 90 | 16,733 | 197 | |
Redeemed | (99,447) | (1,058) | (265,847) | (3,092) | |
Net Increase (Decrease)—Admiral Shares | 271,254 | 2,812 | (37,372) | (439) |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Coal & Consumable Fuels | 0.3% |
Integrated Oil & Gas | 40.2 |
Oil & Gas Drilling | 0.8 |
Oil & Gas Equipment & Services | 9.0 |
Oil & Gas Exploration & Production | 30.7 |
Oil & Gas Refining & Marketing | 8.7 |
Oil & Gas Storage & Transportation | 10.3 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Coal & Consumable Fuels (0.3%) | |||
Arch Resources Inc. | 93,674 | 11,182 | |
* | Peabody Energy Corp. | 588,545 | 10,205 |
* | Centrus Energy Corp. Class A | 73,526 | 3,329 |
24,716 | |||
Integrated Oil & Gas (40.0%) | |||
Exxon Mobil Corp. | 24,399,469 | 1,913,406 | |
Chevron Corp. | 11,073,410 | 1,594,571 | |
Occidental Petroleum Corp. | 5,458,606 | 238,705 | |
3,746,682 | |||
Oil & Gas Drilling (0.8%) | |||
Helmerich & Payne Inc. | 644,322 | 23,344 | |
Patterson-UTI Energy Inc. | 1,291,353 | 18,634 | |
* | Transocean Ltd. (XNYS) | 3,769,472 | 13,344 |
*,1 | Noble Corp. | 282,581 | 7,294 |
* | Valaris Ltd. | 165,299 | 6,734 |
* | Nabors Industries Ltd. (XNYS) | 47,158 | 5,920 |
* | Nabors Industries Ltd. Warrants Exp. 6/11/26 | 26,520 | 371 |
75,641 | |||
Oil & Gas Equipment & Services (8.9%) | |||
Schlumberger NV | 8,190,514 | 321,396 | |
Halliburton Co. | 5,234,372 | 175,508 | |
Baker Hughes Co. Class A | 4,836,067 | 142,084 | |
NOV Inc. | 2,307,834 | 39,579 | |
* | ChampionX Corp. | 1,201,773 | 25,730 |
Cactus Inc. Class A | 354,109 | 17,939 | |
* | TechnipFMC plc | 2,571,736 | 17,616 |
* | Weatherford International plc | 423,863 | 12,038 |
* | Oceaneering International Inc. | 616,420 | 9,024 |
* | NexTier Oilfield Solutions Inc. | 1,127,618 | 8,976 |
Core Laboratories NV | 288,701 | 7,957 | |
* | Liberty Oilfield Services Inc. Class A | 614,805 | 7,673 |
* | Expro Group Holdings NV | 448,304 | 7,213 |
* | US Silica Holdings Inc. | 481,810 | 6,967 |
Archrock Inc. | 823,298 | 6,875 | |
* | Dril-Quip Inc. | 226,782 | 6,540 |
* | ProPetro Holding Corp. | 493,227 | 6,298 |
* | Helix Energy Solutions Group Inc. | 957,915 | 3,880 |
* | RPC Inc. | 441,606 | 3,873 |
* | Tidewater Inc. | 252,146 | 3,734 |
* | DMC Global Inc. | 122,952 | 3,615 |
834,515 | |||
Oil & Gas Exploration & Production (30.5%) | |||
ConocoPhillips | 7,442,861 | 706,030 | |
EOG Resources Inc. | 3,416,015 | 392,568 |
Shares | Market Value• ($000) | ||
Pioneer Natural Resources Co. | 1,354,578 | 324,557 | |
Devon Energy Corp. | 3,759,473 | 223,877 | |
Diamondback Energy Inc. | 1,007,486 | 139,134 | |
Hess Corp. | 1,330,742 | 134,485 | |
Coterra Energy Inc. | 4,528,887 | 105,659 | |
Marathon Oil Corp. | 4,584,787 | 103,433 | |
APA Corp. | 2,198,302 | 78,325 | |
Ovintiv Inc. (XNYS) | 1,534,766 | 70,369 | |
EQT Corp. | 1,895,035 | 43,851 | |
Texas Pacific Land Corp. | 36,635 | 43,549 | |
* | Antero Resources Corp. | 1,672,714 | 38,355 |
PDC Energy Inc. | 576,819 | 37,216 | |
Chesapeake Energy Corp. | 451,520 | 34,880 | |
Matador Resources Co. | 695,840 | 34,514 | |
* | Range Resources Corp. | 1,464,430 | 33,609 |
Murphy Oil Corp. | 916,408 | 31,772 | |
SM Energy Co. | 687,640 | 24,418 | |
Continental Resources Inc. | 435,763 | 24,154 | |
* | Denbury Inc. | 299,794 | 21,783 |
* | CNX Resources Corp. | 1,267,870 | 20,717 |
* | Southwestern Energy Co. | 3,937,065 | 19,646 |
Magnolia Oil & Gas Corp. Class A | 873,296 | 19,518 | |
Whiting Petroleum Corp. | 235,817 | 17,415 | |
Oasis Petroleum Inc. | 119,107 | 15,783 | |
Civitas Resources Inc. | 307,421 | 15,516 | |
* | Callon Petroleum Co. | 269,194 | 15,172 |
* | Kosmos Energy Ltd. | 2,757,104 | 13,399 |
Viper Energy Partners LP | 364,848 | 10,730 | |
California Resources Corp. | 246,805 | 10,176 | |
* | Centennial Resource Development Inc. Class A | 1,141,271 | 10,020 |
Northern Oil and Gas Inc. | 374,321 | 9,388 | |
* | Tellurian Inc. | 2,430,673 | 9,261 |
Brigham Minerals Inc. Class A | 287,002 | 6,538 | |
* | Gulfport Energy Corp. | 80,053 | 5,522 |
* | Comstock Resources Inc. | 545,396 | 4,527 |
Berry Corp. | 382,176 | 3,822 | |
* | W&T Offshore Inc. | 694,886 | 3,377 |
1 | Kimbell Royalty Partners LP | 211,638 | 3,329 |
* | Talos Energy Inc. | 208,072 | 3,269 |
2,863,663 | |||
Oil & Gas Refining & Marketing (8.7%) | |||
Marathon Petroleum Corp. | 3,711,335 | 289,002 | |
Phillips 66 | 2,560,607 | 215,705 | |
Valero Energy Corp. | 2,389,591 | 199,555 | |
* | HollyFrontier Corp. | 914,110 | 27,835 |
Shares | Market Value• ($000) | ||
* | Renewable Energy Group Inc. | 307,528 | 18,913 |
World Fuel Services Corp. | 386,335 | 10,949 | |
* | Green Plains Inc. | 330,714 | 10,827 |
* | PBF Energy Inc. Class A | 588,670 | 9,784 |
* | Clean Energy Fuels Corp. | 1,052,704 | 7,653 |
* | Delek US Holdings Inc. | 417,307 | 7,190 |
*,1 | Gevo Inc. | 1,320,122 | 4,686 |
* | Par Pacific Holdings Inc. | 297,826 | 4,050 |
CVR Energy Inc. | 200,038 | 3,479 | |
* | REX American Resources Corp. | 34,407 | 3,250 |
* | Aemetis Inc. | 202,156 | 2,592 |
815,470 | |||
Oil & Gas Storage & Transportation (10.3%) | |||
Williams Cos. Inc. | 7,101,459 | 222,134 | |
Kinder Morgan Inc. | 11,907,943 | 207,198 | |
Cheniere Energy Inc. | 1,339,106 | 177,967 | |
ONEOK Inc. | 2,608,268 | 170,320 | |
Targa Resources Corp. | 1,276,471 | 83,443 | |
DTE Midstream LLC | 573,993 | 30,479 | |
Antero Midstream Corp. | 1,860,942 | 18,684 | |
Equitrans Midstream Corp. | 2,462,671 | 15,786 | |
* | EnLink Midstream LLC | 1,624,445 | 14,458 |
* | Plains GP Holdings LP Class A | 1,120,206 | 12,669 |
Hess Midstream LP Class A | 213,206 | 6,814 | |
International Seaways Inc. | 252,778 | 4,623 | |
964,575 | |||
Total Common Stocks (Cost $8,077,196) | 9,325,262 | ||
Temporary Cash Investments (0.1%) | |||
Money Market Fund (0.1%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $4,444) | 44,445 | 4,444 |
Total Investments (99.6%) (Cost $8,081,640) | 9,329,706 | ||
Other Assets and Liabilities—Net (0.4%) | 41,673 | ||
Net Assets (100.0%) | 9,371,379 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $4,030,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $4,435,000 was received for securities on loan. |
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) |
Cheniere Energy Inc. | 8/31/22 | BANA | 9,303 | (0.070) | 23 | — |
Hess Corp. | 1/31/23 | GSI | 27,957 | (0.070) | 2,360 | — |
2,383 | — |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $8,077,196) | 9,325,262 |
Affiliated Issuers (Cost $4,444) | 4,444 |
Total Investments in Securities | 9,329,706 |
Investment in Vanguard | 283 |
Receivables for Investment Securities Sold | 61,052 |
Receivables for Accrued Income | 54,327 |
Receivables for Capital Shares Issued | 8,185 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 2,383 |
Total Assets | 9,455,936 |
Liabilities | |
Due to Custodian | 15,882 |
Payables for Investment Securities Purchased | 60,019 |
Collateral for Securities on Loan | 4,435 |
Payables for Capital Shares Redeemed | 3,895 |
Payables to Vanguard | 319 |
Other Liabilities | 7 |
Total Liabilities | 84,557 |
Net Assets | 9,371,379 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 8,907,340 |
Total Distributable Earnings (Loss) | 464,039 |
Net Assets | 9,371,379 |
ETF Shares—Net Assets | |
Applicable to 78,742,221 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 7,722,828 |
Net Asset Value Per Share—ETF Shares | $98.08 |
Admiral Shares—Net Assets | |
Applicable to 33,646,843 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,648,551 |
Net Asset Value Per Share—Admiral Shares | $49.00 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 152,756 |
Interest2 | 10 |
Securities Lending—Net | 4 |
Total Income | 152,770 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 405 |
Management and Administrative— ETF Shares | 2,478 |
Management and Administrative— Admiral Shares | 524 |
Marketing and Distribution— ETF Shares | 110 |
Marketing and Distribution— Admiral Shares | 41 |
Custodian Fees | 1 |
Shareholders’ Reports—ETF Shares | 86 |
Shareholders’ Reports—Admiral Shares | 10 |
Trustees’ Fees and Expenses | 2 |
Other Expenses | 8 |
Total Expenses | 3,665 |
Net Investment Income | 149,105 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 303,379 |
Swap Contracts | 11,064 |
Realized Net Gain (Loss) | 314,443 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 2,432,314 |
Swap Contracts | 1,997 |
Change in Unrealized Appreciation (Depreciation) | 2,434,311 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,897,859 |
1 | Dividends are net of foreign withholding taxes of $1,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $10,000, ($8,000), less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $455,858,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 149,105 | 225,294 | |
Realized Net Gain (Loss) | 314,443 | 119,171 | |
Change in Unrealized Appreciation (Depreciation) | 2,434,311 | 1,396,231 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,897,859 | 1,740,696 | |
Distributions | |||
ETF Shares | (137,091) | (165,567) | |
Admiral Shares | (29,630) | (32,990) | |
Total Distributions | (166,721) | (198,557) | |
Capital Share Transactions | |||
ETF Shares | 673,450 | 812,839 | |
Admiral Shares | 60,878 | 424,314 | |
Net Increase (Decrease) from Capital Share Transactions | 734,328 | 1,237,153 | |
Total Increase (Decrease) | 3,465,466 | 2,779,292 | |
Net Assets | |||
Beginning of Period | 5,905,913 | 3,126,621 | |
End of Period | 9,371,379 | 5,905,913 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $67.99 | $47.90 | $75.75 | $103.13 | $85.71 | $95.06 |
Investment Operations | ||||||
Net Investment Income1 | 1.650 | 2.802 | 2.957 | 2.769 | 2.519 | 2.8192 |
Net Realized and Unrealized Gain (Loss) on Investments | 30.303 | 19.789 | (28.064) | (27.449) | 17.837 | (9.801) |
Total from Investment Operations | 31.953 | 22.591 | (25.107) | (24.680) | 20.356 | (6.982) |
Distributions | ||||||
Dividends from Net Investment Income | (1.863) | (2.501) | (2.743) | (2.700) | (2.936) | (2.368) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.863) | (2.501) | (2.743) | (2.700) | (2.936) | (2.368) |
Net Asset Value, End of Period | $98.08 | $67.99 | $47.90 | $75.75 | $103.13 | $85.71 |
Total Return | 47.83% | 48.07% | -33.87% | -24.34% | 24.06% | -7.55% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $7,723 | $4,806 | $2,720 | $3,029 | $4,288 | $3,656 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 3.78% | 4.54% | 4.91% | 3.15% | 2.56% | 2.93%2 |
Portfolio Turnover Rate3 | 4% | 5% | 8% | 7% | 5% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.453 and 0.47%, respectively, from income received as a result of General Electric Co. and Baker Hughes Inc. merger in July 2017. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $33.97 | $23.93 | $37.84 | $51.52 | $42.82 | $47.49 |
Investment Operations | ||||||
Net Investment Income1 | .816 | 1.435 | 1.461 | 1.388 | 1.249 | 1.3752 |
Net Realized and Unrealized Gain (Loss) on Investments | 15.144 | 9.855 | (14.001) | (13.720) | 8.916 | (4.863) |
Total from Investment Operations | 15.960 | 11.290 | (12.540) | (12.332) | 10.165 | (3.488) |
Distributions | ||||||
Dividends from Net Investment Income | (.930) | (1.250) | (1.370) | (1.348) | (1.465) | (1.182) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.930) | (1.250) | (1.370) | (1.348) | (1.465) | (1.182) |
Net Asset Value, End of Period | $49.00 | $33.97 | $23.93 | $37.84 | $51.52 | $42.82 |
Total Return3 | 47.82% | 48.18% | -33.82% | -24.33% | 24.06% | -7.56% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $1,649 | $1,100 | $407 | $468 | $642 | $523 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 3.75% | 4.52% | 4.84% | 3.15% | 2.56% | 2.93%2 |
Portfolio Turnover Rate4 | 4% | 5% | 8% | 7% | 5% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.228 and 0.47%, respectively, from income received as a result of General Electric Co. and Baker Hughes Inc. merger in July 2017. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 9,307,646 | 17,616 | — | 9,325,262 |
Temporary Cash Investments | 4,444 | — | — | 4,444 |
Total | 9,312,090 | 17,616 | — | 9,329,706 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 2,383 | — | 2,383 |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 8,124,803 |
Gross Unrealized Appreciation | 1,654,309 |
Gross Unrealized Depreciation | (449,406) |
Net Unrealized Appreciation (Depreciation) | 1,204,903 |
E. | During the six months ended February 28, 2022, the fund purchased $2,134,242,000 of investment securities and sold $1,421,692,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,616,782,000 and $1,125,622,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 1,803,007 | 21,765 | 1,677,226 | 28,056 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,129,557) | (13,700) | (864,387) | (14,150) | |
Net Increase (Decrease)—ETF Shares | 673,450 | 8,065 | 812,839 | 13,906 | |
Admiral Shares | |||||
Issued | 462,330 | 10,781 | 770,533 | 26,470 | |
Issued in Lieu of Cash Distributions | 26,765 | 709 | 30,065 | 981 | |
Redeemed | (428,217) | (10,238) | (376,284) | (12,066) | |
Net Increase (Decrease)—Admiral Shares | 60,878 | 1,252 | 424,314 | 15,385 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Banks | 38.2% |
Capital Markets | 26.0 |
Consumer Finance | 6.2 |
Diversified Financial Services | 9.0 |
Insurance | 18.4 |
IT Services | 0.0 |
Mortgage Real Estate Investment Trusts (REITs) | 1.2 |
Thrifts & Mortgage Finance | 1.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Banks (38.2%) | |||
JPMorgan Chase & Co. | 7,378,210 | 1,046,230 | |
Bank of America Corp. | 18,385,022 | 812,618 | |
Wells Fargo & Co. | 9,952,016 | 531,139 | |
Citigroup Inc. | 4,953,257 | 293,381 | |
PNC Financial Services Group Inc. | 1,055,197 | 210,248 | |
Truist Financial Corp. | 3,333,241 | 207,394 | |
US Bancorp | 3,517,261 | 198,866 | |
* | SVB Financial Group | 146,521 | 88,792 |
Fifth Third Bancorp | 1,707,307 | 81,678 | |
First Republic Bank | 441,320 | 76,463 | |
M&T Bank Corp. | 321,289 | 58,549 | |
KeyCorp | 2,323,088 | 58,240 | |
Regions Financial Corp. | 2,380,105 | 57,575 | |
Huntington Bancshares Inc. | 3,610,295 | 56,032 | |
Citizens Financial Group Inc. | 1,064,043 | 55,777 | |
Signature Bank | 151,382 | 52,210 | |
First Horizon Corp. | 1,349,981 | 31,698 | |
Comerica Inc. | 327,289 | 31,253 | |
East West Bancorp Inc. | 354,239 | 31,017 | |
Zions Bancorp NA | 390,411 | 27,676 | |
Webster Financial Corp. | 448,879 | 27,027 | |
Western Alliance Bancorp | 260,241 | 24,395 | |
First Citizens BancShares Inc. Class A | 29,914 | 23,586 | |
People's United Financial Inc. | 1,068,799 | 22,530 | |
Cullen/Frost Bankers Inc. | 151,014 | 21,252 | |
Commerce Bancshares Inc. | 274,679 | 19,716 | |
Pinnacle Financial Partners Inc. | 190,026 | 19,208 | |
Synovus Financial Corp. | 364,121 | 19,171 | |
Popular Inc. | 200,017 | 18,372 | |
Prosperity Bancshares Inc. | 230,137 | 17,136 | |
First Financial Bankshares Inc. | 337,706 | 16,183 | |
SouthState Corp. | 174,000 | 15,660 | |
Cadence Bank | 480,675 | 15,199 | |
PacWest Bancorp | 298,355 | 14,745 | |
Glacier Bancorp Inc. | 262,474 | 14,541 | |
Bank OZK | 304,671 | 14,326 | |
Valley National Bancorp | 1,011,531 | 14,131 | |
Wintrust Financial Corp. | 141,641 | 14,073 | |
Old National Bancorp | 736,495 | 13,463 | |
United Bankshares Inc. | 340,319 | 12,463 | |
Hancock Whitney Corp. | 217,000 | 12,083 | |
FNB Corp. | 878,995 | 11,805 | |
UMB Financial Corp. | 114,573 | 11,670 | |
Umpqua Holdings Corp. | 542,949 | 11,592 | |
ServisFirst Bancshares Inc. | 122,067 | 10,666 |
Shares | Market Value• ($000) | ||
Independent Bank Corp. (XNGS) | 118,920 | 10,228 | |
United Community Banks Inc. | 263,853 | 10,201 | |
Community Bank System Inc. | 135,213 | 9,862 | |
Investors Bancorp Inc. | 587,519 | 9,835 | |
BankUnited Inc. | 221,975 | 9,811 | |
* | Silvergate Capital Corp. Class A | 74,619 | 9,557 |
First Hawaiian Inc. | 322,425 | 9,373 | |
Associated Banc-Corp. | 376,157 | 9,174 | |
Eastern Bankshares Inc. | 419,111 | 9,162 | |
Home BancShares Inc. | 389,272 | 9,113 | |
First Interstate BancSystem Inc. Class A | 220,076 | 8,935 | |
Bank of Hawaii Corp. | 100,442 | 8,656 | |
Ameris Bancorp | 173,938 | 8,610 | |
Cathay General Bancorp | 181,934 | 8,556 | |
* | Texas Capital Bancshares Inc. | 126,858 | 8,449 |
Pacific Premier Bancorp Inc. | 211,650 | 8,193 | |
Simmons First National Corp. Class A | 286,427 | 8,169 | |
BOK Financial Corp. | 76,497 | 7,856 | |
Atlantic Union Bankshares Corp. | 189,602 | 7,704 | |
CVB Financial Corp. | 319,496 | 7,534 | |
First BanCorp. (XNYS) | 513,190 | 7,246 | |
Fulton Financial Corp. | 401,346 | 7,232 | |
Columbia Banking System Inc. | 195,103 | 7,147 | |
Independent Bank Group Inc. | 91,717 | 7,076 | |
* | Triumph Bancorp Inc. | 60,139 | 6,033 |
First Merchants Corp. | 134,780 | 5,895 | |
International Bancshares Corp. | 135,120 | 5,812 | |
First Financial Bancorp | 234,066 | 5,753 | |
WesBanco Inc. | 157,395 | 5,751 | |
Towne Bank | 181,641 | 5,664 | |
Sandy Spring Bancorp Inc. | 114,765 | 5,404 | |
Seacoast Banking Corp. of Florida | 145,536 | 5,334 | |
Banner Corp. | 86,239 | 5,313 | |
Live Oak Bancshares Inc. | 80,683 | 5,160 | |
Park National Corp. | 37,967 | 5,090 | |
Lakeland Financial Corp. | 63,273 | 5,075 | |
Hope Bancorp Inc. | 298,949 | 5,070 | |
Veritex Holdings Inc. | 124,114 | 5,043 | |
Renasant Corp. | 138,015 | 5,039 | |
Heartland Financial USA Inc. | 100,346 | 4,979 | |
Trustmark Corp. | 155,785 | 4,906 | |
Hilltop Holdings Inc. | 157,217 | 4,861 | |
Eagle Bancorp Inc. | 80,170 | 4,804 | |
* | Customers Bancorp Inc. | 76,808 | 4,728 |
Shares | Market Value• ($000) | ||
Enterprise Financial Services Corp. | 90,925 | 4,495 | |
Northwest Bancshares Inc. | 299,017 | 4,210 | |
NBT Bancorp Inc. | 107,486 | 4,124 | |
Westamerica BanCorp. | 67,520 | 4,005 | |
Meta Financial Group Inc. | 72,276 | 4,003 | |
First Bancorp (XNGS) | 88,335 | 3,964 | |
First Commonwealth Financial Corp. | 237,736 | 3,839 | |
Berkshire Hills Bancorp Inc. | 122,950 | 3,824 | |
FB Financial Corp. | 84,745 | �� 3,766 | |
* | Bancorp Inc. | 128,305 | 3,759 |
First Busey Corp. | 129,909 | 3,566 | |
BancFirst Corp. | 44,455 | 3,473 | |
OFG Bancorp | 122,865 | 3,462 | |
National Bank Holdings Corp. Class A | 76,035 | 3,374 | |
Brookline Bancorp Inc. | 196,554 | 3,369 | |
OceanFirst Financial Corp. | 149,351 | 3,342 | |
Stock Yards Bancorp Inc. | 62,086 | 3,320 | |
TriCo Bancshares | 74,578 | 3,237 | |
First Foundation Inc. | 121,088 | 3,229 | |
Southside Bancshares Inc. | 74,886 | 3,122 | |
S&T Bancorp Inc. | 97,170 | 3,021 | |
ConnectOne Bancorp Inc. | 91,037 | 3,004 | |
City Holding Co. | 37,596 | 2,995 | |
Tompkins Financial Corp. | 37,255 | 2,947 | |
* | Nicolet Bankshares Inc. | 30,929 | 2,946 |
Preferred Bank | 37,420 | 2,937 | |
Premier Financial Corp. | 93,240 | 2,860 | |
Dime Community Bancshares Inc. | 82,112 | 2,791 | |
Banc of California Inc. | 139,672 | 2,745 | |
Lakeland Bancorp Inc. | 149,820 | 2,703 | |
HomeStreet Inc. | 52,062 | 2,679 | |
Origin Bancorp Inc. | 55,909 | 2,582 | |
German American Bancorp Inc. | 63,362 | 2,521 | |
* | Metropolitan Bank Holding Corp. | 24,341 | 2,489 |
Washington Trust Bancorp Inc. | 43,433 | 2,357 | |
* | TriState Capital Holdings Inc. | 70,915 | 2,354 |
Amerant Bancorp Inc. | 69,531 | 2,256 | |
Heritage Financial Corp. | 85,475 | 2,241 | |
QCR Holdings Inc. | 38,382 | 2,144 | |
Univest Financial Corp. | 73,931 | 2,143 | |
Peoples Bancorp Inc. | 68,450 | 2,141 | |
Allegiance Bancshares Inc. | 49,512 | 2,122 | |
Central Pacific Financial Corp. | 71,893 | 2,099 | |
1st Source Corp. | 42,172 | 2,037 |
Shares | Market Value• ($000) | ||
Horizon Bancorp Inc. | 100,767 | 2,023 | |
Hanmi Financial Corp. | 73,359 | 1,916 | |
First Bancorp Inc. (XNMS) | 51,612 | 1,822 | |
Heritage Commerce Corp. | 152,980 | 1,819 | |
* | CrossFirst Bankshares Inc. | 112,208 | 1,765 |
Peapack-Gladstone Financial Corp. | 46,594 | 1,758 | |
HarborOne Bancorp Inc. | 116,394 | 1,721 | |
Camden National Corp. | 35,980 | 1,711 | |
* | Atlantic Capital Bancshares Inc. | 51,418 | 1,663 |
Community Trust Bancorp Inc. | 38,946 | 1,647 | |
Great Southern Bancorp Inc. | 26,525 | 1,629 | |
Byline Bancorp Inc. | 59,536 | 1,624 | |
Cambridge Bancorp | 17,893 | 1,577 | |
Flushing Financial Corp. | 66,432 | 1,561 | |
Midland States Bancorp Inc. | 52,639 | 1,546 | |
Arrow Financial Corp. | 41,864 | 1,438 | |
First Mid Bancshares Inc. | 35,591 | 1,426 | |
Mercantile Bank Corp. | 37,155 | 1,370 | |
CBTX Inc. | 44,386 | 1,334 | |
Bank of Marin Bancorp | 37,394 | 1,321 | |
First Financial Corp. | 27,592 | 1,283 | |
Republic Bancorp Inc. Class A | 24,495 | 1,124 | |
First Community Bankshares Inc. | 37,847 | 1,110 | |
Amalgamated Financial Corp. | 33,490 | 575 | |
4,906,582 | |||
Capital Markets (26.0%) | |||
Charles Schwab Corp. | 3,618,471 | 305,616 | |
Morgan Stanley | 3,359,906 | 304,878 | |
Goldman Sachs Group Inc. | 839,705 | 286,583 | |
BlackRock Inc. | 379,369 | 282,209 | |
S&P Global Inc. | 601,773 | 226,086 | |
Blackstone Inc. | 1,715,239 | 218,642 | |
CME Group Inc. | 897,486 | 212,282 | |
Intercontinental Exchange Inc. | 1,406,870 | 180,248 | |
Moody's Corp. | 417,813 | 134,548 | |
Bank of New York Mellon Corp. | 1,957,886 | 104,062 | |
MSCI Inc. Class A | 205,930 | 103,313 | |
Ameriprise Financial Inc. | 279,514 | 83,795 | |
KKR & Co. Inc. | 1,314,905 | 79,052 | |
State Street Corp. | 913,095 | 77,914 | |
T Rowe Price Group Inc. | 461,144 | 66,663 | |
Northern Trust Corp. | 492,626 | 56,110 | |
Raymond James Financial Inc. | 462,543 | 50,718 | |
Nasdaq Inc. | 292,329 | 50,032 | |
FactSet Research Systems Inc. | 94,004 | 38,174 | |
MarketAxess Holdings Inc. | 94,991 | 36,232 | |
LPL Financial Holdings Inc. | 200,194 | 36,225 | |
Cboe Global Markets Inc. | 266,362 | 31,242 | |
Ares Management Corp. Class A | 314,085 | 25,469 | |
Franklin Resources Inc. | 751,985 | 22,357 |
Shares | Market Value• ($000) | ||
Tradeweb Markets Inc. Class A | 262,522 | 22,178 | |
Stifel Financial Corp. | 260,023 | 19,112 | |
Carlyle Group Inc. | 400,820 | 18,786 | |
Jefferies Financial Group Inc. | 521,785 | 18,544 | |
* | Coinbase Global Inc. Class A | 96,989 | 18,503 |
Invesco Ltd. | 864,400 | 18,360 | |
SEI Investments Co. | 294,996 | 17,281 | |
Morningstar Inc. | 59,183 | 16,610 | |
Interactive Brokers Group Inc. Class A | 220,723 | 14,607 | |
Affiliated Managers Group Inc. | 101,475 | 14,040 | |
Houlihan Lokey Inc. Class A | 127,401 | 13,104 | |
Janus Henderson Group plc | 383,282 | 12,867 | |
Evercore Inc. Class A | 97,188 | 12,344 | |
Federated Hermes Inc. | 230,049 | 7,516 | |
Virtu Financial Inc. Class A | 209,970 | 7,366 | |
Moelis & Co. Class A | 152,328 | 7,344 | |
Hamilton Lane Inc. Class A | 88,272 | 6,894 | |
* | Focus Financial Partners Inc. Class A | 135,671 | 6,789 |
Piper Sandler Cos. | 44,341 | 6,563 | |
Artisan Partners Asset Management Inc. Class A | 163,925 | 6,247 | |
*,1 | Robinhood Markets Inc. Class A | 450,485 | 5,410 |
Blue Owl Capital Inc. Class A | 410,066 | 5,126 | |
Cohen & Steers Inc. | 60,028 | 4,878 | |
* | Open Lending Corp. Class A | 220,701 | 4,597 |
Virtus Investment Partners Inc. | 18,776 | 4,518 | |
StepStone Group Inc. Class A | 119,606 | 4,130 | |
PJT Partners Inc. Class A | 58,310 | 3,721 | |
BGC Partners Inc. Class A | 724,958 | 3,320 | |
* | StoneX Group Inc. | 41,290 | 3,115 |
*,1 | Freedom Holding Corp. | 43,676 | 2,684 |
* | Blucora Inc. | 122,130 | 2,430 |
* | Donnelley Financial Solutions Inc. | 74,616 | 2,395 |
B Riley Financial Inc. | 36,853 | 2,195 | |
Brightsphere Investment Group Inc. | 91,791 | 2,191 | |
Cowen Inc. Class A | 63,179 | 1,873 | |
Victory Capital Holdings Inc. Class A | 49,494 | 1,642 | |
WisdomTree Investments Inc. | 266,215 | 1,499 | |
Diamond Hill Investment Group Inc. | 7,671 | 1,487 | |
Oppenheimer Holdings Inc. Class A | 22,250 | 961 | |
Perella Weinberg Partners | 85,860 | 944 | |
Sculptor Capital Management Inc. Class A | 45,256 | 580 | |
Associated Capital Group Inc. Class A | 7,559 | 296 |
Shares | Market Value• ($000) | ||
GAMCO Investors Inc. Class A | 12,951 | 279 | |
3,337,776 | |||
Consumer Finance (6.2%) | |||
American Express Co. | 1,643,408 | 319,709 | |
Capital One Financial Corp. | 1,062,078 | 162,785 | |
Discover Financial Services | 731,591 | 90,308 | |
Synchrony Financial | 1,365,749 | 58,427 | |
Ally Financial Inc. | 910,237 | 45,421 | |
* | Upstart Holdings Inc. | 103,069 | 16,284 |
*,1 | SoFi Technologies Inc. | 1,310,245 | 15,002 |
SLM Corp. | 658,446 | 12,971 | |
* | Credit Acceptance Corp. | 19,940 | 10,969 |
OneMain Holdings Inc. | 196,885 | 10,037 | |
FirstCash Holdings Inc. | 101,117 | 7,284 | |
Navient Corp. | 402,157 | 7,082 | |
* | PRA Group Inc. | 108,651 | 4,849 |
* | LendingClub Corp. | 239,423 | 4,449 |
* | PROG Holdings Inc. | 140,873 | 4,316 |
* | Encore Capital Group Inc. | 62,207 | 4,105 |
* | Enova International Inc. | 92,237 | 3,761 |
* | LendingTree Inc. | 30,142 | 3,648 |
* | Green Dot Corp. Class A | 121,831 | 3,490 |
Nelnet Inc. Class A | 41,950 | 3,379 | |
* | World Acceptance Corp. | 9,759 | 1,917 |
* | Oportun Financial Corp. | 39,848 | 651 |
Curo Group Holdings Corp. | 43,788 | 585 | |
791,429 | |||
Diversified Financial Services (9.0%) | |||
* | Berkshire Hathaway Inc. Class B | 3,254,076 | 1,046,023 |
Apollo Global Management Inc. | 898,413 | 58,631 | |
Equitable Holdings Inc. | 909,626 | 29,708 | |
Voya Financial Inc. | 277,133 | 18,665 | |
* | Cannae Holdings Inc. | 198,099 | 5,319 |
A-Mark Precious Metals Inc. | 20,421 | 1,464 | |
1,159,810 | |||
Insurance (18.3%) | |||
Chubb Ltd. | 1,075,189 | 218,951 | |
Marsh & McLennan Cos. Inc. | 1,260,486 | 195,892 | |
Aon plc Class A (XNYS) | 549,933 | 160,657 | |
Progressive Corp. | 1,460,674 | 154,729 | |
American International Group Inc. | 2,072,269 | 126,906 | |
MetLife Inc. | 1,784,474 | 120,541 | |
Travelers Cos. Inc. | 614,092 | 105,519 | |
Prudential Financial Inc. | 943,354 | 105,335 | |
Aflac Inc. | 1,569,753 | 95,896 | |
Allstate Corp. | 715,463 | 87,544 | |
Arthur J Gallagher & Co. | 517,442 | 81,854 | |
Willis Towers Watson plc | 310,939 | 69,122 | |
Hartford Financial Services Group Inc. | 849,406 | 59,017 | |
Cincinnati Financial Corp. | 382,165 | 46,926 | |
Principal Financial Group Inc. | 661,806 | 46,750 | |
* | Arch Capital Group Ltd. | 963,446 | 45,388 |
* | Markel Corp. | 34,128 | 42,418 |
Brown & Brown Inc. | 599,170 | 40,510 | |
Loews Corp. | 539,151 | 33,072 |
Shares | Market Value• ($000) | ||
Fidelity National Financial Inc. | 674,661 | 32,141 | |
W R Berkley Corp. | 352,603 | 31,840 | |
Everest Re Group Ltd. | 98,278 | 29,308 | |
Lincoln National Corp. | 428,415 | 28,884 | |
American Financial Group Inc. | 179,860 | 24,351 | |
Globe Life Inc. | 238,950 | 24,124 | |
Assurant Inc. | 142,041 | 24,106 | |
* | Alleghany Corp. | 34,199 | 22,637 |
Old Republic International Corp. | 727,687 | 19,175 | |
Reinsurance Group of America Inc. | 169,120 | 18,749 | |
First American Financial Corp. | 273,906 | 18,363 | |
RenaissanceRe Holdings Ltd. | 114,889 | 17,323 | |
Unum Group | 510,400 | 14,250 | |
Primerica Inc. | 98,946 | 12,852 | |
Selective Insurance Group Inc. | 150,305 | 12,504 | |
Hanover Insurance Group Inc. | 88,723 | 12,378 | |
Kinsale Capital Group Inc. | 54,314 | 11,393 | |
Erie Indemnity Co. Class A | 63,439 | 11,108 | |
Assured Guaranty Ltd. | 174,077 | 10,788 | |
Axis Capital Holdings Ltd. | 191,035 | 10,434 | |
* | Brighthouse Financial Inc. | 199,075 | 10,404 |
RLI Corp. | 101,474 | 10,300 | |
Kemper Corp. | 158,920 | 8,493 | |
White Mountains Insurance Group Ltd. | 7,546 | 7,925 | |
American Equity Investment Life Holding Co. | 208,451 | 7,857 | |
* | Enstar Group Ltd. | 27,434 | 7,820 |
* | Trupanion Inc. | 85,657 | 7,677 |
CNO Financial Group Inc. | 307,055 | 7,422 | |
* | Genworth Financial Inc. Class A | 1,268,559 | 5,150 |
Stewart Information Services Corp. | 66,830 | 4,536 | |
Horace Mann Educators Corp. | 104,336 | 4,339 | |
Goosehead Insurance Inc. Class A | 49,666 | 4,320 | |
* | BRP Group Inc. Class A | 142,287 | 3,951 |
* | Palomar Holdings Inc. | 61,186 | 3,942 |
American National Group Inc. | 20,209 | 3,820 | |
Mercury General Corp. | 68,894 | 3,789 | |
Argo Group International Holdings Ltd. | 88,517 | 3,733 | |
ProAssurance Corp. | 134,084 | 3,231 | |
Safety Insurance Group Inc. | 38,012 | 3,172 | |
Employers Holdings Inc. | 70,711 | 2,748 | |
James River Group Holdings Ltd. | 95,428 | 2,538 | |
*,1 | Lemonade Inc. | 94,640 | 2,409 |
AMERISAFE Inc. | 49,273 | 2,321 | |
State Auto Financial Corp. | 44,166 | 2,297 | |
* | MBIA Inc. | 121,045 | 1,846 |
* | SiriusPoint Ltd. | 217,285 | 1,606 |
Shares | Market Value• ($000) | ||
* | Ambac Financial Group Inc. | 119,320 | 1,531 |
United Fire Group Inc. | 51,298 | 1,416 | |
National Western Life Group Inc. Class A | 6,269 | 1,337 | |
HCI Group Inc. | 20,543 | 1,279 | |
* | eHealth Inc. | 58,678 | 912 |
* | Oscar Health Inc. Class A | 103,523 | 755 |
* | Selectquote Inc. | 136,045 | 423 |
* | Root Inc. Class A | 214,058 | 387 |
* | GoHealth Inc. Class A | 152,681 | 340 |
* | Trean Insurance Group Inc. | 30,435 | 216 |
2,359,977 | |||
IT Services (0.0%) | |||
* | GreenSky Inc. Class A | 78,233 | 775 |
Mortgage Real Estate Investment Trusts (REITs) (1.2%) | |||
Annaly Capital Management Inc. | 3,617,923 | 25,181 | |
Starwood Property Trust Inc. | 719,804 | 17,160 | |
AGNC Investment Corp. | 1,311,443 | 16,931 | |
Blackstone Mortgage Trust Inc. Class A | 397,036 | 12,618 | |
New Residential Investment Corp. | 1,166,704 | 12,110 | |
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 211,655 | 10,020 | |
Chimera Investment Corp. | 592,567 | 7,212 | |
Arbor Realty Trust Inc. | 356,393 | 6,415 | |
Apollo Commercial Real Estate Finance Inc. | 349,537 | 4,561 | |
Two Harbors Investment Corp. | 857,175 | 4,337 | |
MFA Financial Inc. | 995,479 | 4,042 | |
PennyMac Mortgage Investment Trust | 245,964 | 3,837 | |
New York Mortgage Trust Inc. | 956,431 | 3,357 | |
Ladder Capital Corp. Class A | 279,394 | 3,202 | |
Redwood Trust Inc. | 282,990 | 2,940 | |
Broadmark Realty Capital Inc. | 313,734 | 2,717 | |
Ellington Financial Inc. | 137,190 | 2,424 | |
Ready Capital Corp. | 146,069 | 2,169 | |
Brightspire Capital Inc. Class A | 211,975 | 1,878 | |
ARMOUR Residential REIT Inc. | 221,543 | 1,801 | |
KKR Real Estate Finance Trust Inc. | 82,143 | 1,764 | |
Invesco Mortgage Capital Inc. | 776,203 | 1,692 | |
Ares Commercial Real Estate Corp. | 115,435 | 1,691 | |
TPG RE Finance Trust Inc. | 130,516 | 1,545 | |
Granite Point Mortgage Trust Inc. | 131,598 | 1,477 | |
Dynex Capital Inc. | 94,184 | 1,448 | |
1 | Orchid Island Capital Inc. | 421,961 | 1,388 |
Shares | Market Value• ($000) | ||
Franklin BSP Realty Trust Inc. REIT | 92,274 | 1,218 | |
157,135 | |||
Thrifts & Mortgage Finance (1.0%) | |||
New York Community Bancorp Inc. | 1,161,980 | 13,409 | |
MGIC Investment Corp. | 812,389 | 12,332 | |
Essent Group Ltd. | 276,149 | 12,200 | |
Radian Group Inc. | 447,733 | 10,701 | |
Walker & Dunlop Inc. | 76,008 | 10,516 | |
WSFS Financial Corp. | 164,042 | 8,338 | |
* | Mr Cooper Group Inc. | 149,828 | 7,616 |
* | Axos Financial Inc. | 134,174 | 7,345 |
PennyMac Financial Services Inc. | 117,872 | 6,807 | |
Flagstar Bancorp Inc. | 130,650 | 5,955 | |
Washington Federal Inc. | 162,746 | 5,791 | |
* | NMI Holdings Inc. Class A | 203,761 | 4,715 |
Provident Financial Services Inc. | 190,229 | 4,514 | |
1 | Rocket Cos. Inc. Class A | 337,799 | 4,361 |
Capitol Federal Financial Inc. | 329,061 | 3,593 | |
Federal Agricultural Mortgage Corp. Class C | 22,872 | 2,829 | |
* | Columbia Financial Inc. | 120,183 | 2,553 |
Kearny Financial Corp. | 168,087 | 2,220 | |
Northfield Bancorp Inc. | 114,115 | 1,792 | |
TrustCo Bank Corp. NY | 46,068 | 1,574 | |
Hingham Institution for Savings | 3,854 | 1,387 | |
Merchants Bancorp | 36,000 | 1,042 | |
1 | UWM Holdings Corp. | 230,241 | 999 |
132,589 | |||
Total Common Stocks (Cost $10,688,266) | 12,846,073 | ||
Face Amount ($000) | |||
Corporate Bonds (0.0%) | |||
Financials (0.0%) | |||
2 | GAMCO Investors Inc., 5.000% coupon rate effective 6/15/22 4.000%, 6/15/23 (Cost $25) | 25 | 24 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
3,4 | Vanguard Market Liquidity Fund, 0.138% (Cost $30,008) | 300,120 | 30,009 |
Total Investments (100.1%) (Cost $10,718,299) | 12,876,106 | ||
Other Assets and Liabilities—Net (-0.1%) | (15,880) | ||
Net Assets (100.0%) | 12,860,226 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $25,287,000. |
2 | Step bond. |
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 $25,151,000 was received for securities on loan. |
REIT—Real Estate Investment Trust. |
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) |
T Rowe Price Group Inc. | 8/31/22 | BANA | 14,456 | 0.030 | — | — |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $10,688,291) | 12,846,097 |
Affiliated Issuers (Cost $30,008) | 30,009 |
Total Investments in Securities | 12,876,106 |
Investment in Vanguard | 430 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 1,020 |
Receivables for Investment Securities Sold | 73,307 |
Receivables for Accrued Income | 12,725 |
Receivables for Capital Shares Issued | 976 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | — |
Total Assets | 12,964,564 |
Liabilities | |
Due to Custodian | 199 |
Payables for Investment Securities Purchased | 75,266 |
Collateral for Securities on Loan | 25,151 |
Payables for Capital Shares Redeemed | 3,249 |
Payables to Vanguard | 473 |
Total Liabilities | 104,338 |
Net Assets | 12,860,226 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 10,377,387 |
Total Distributable Earnings (Loss) | 2,482,839 |
Net Assets | 12,860,226 |
ETF Shares—Net Assets | |
Applicable to 126,103,807 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,945,529 |
Net Asset Value Per Share—ETF Shares | $94.73 |
Admiral Shares—Net Assets | |
Applicable to 19,267,021 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 914,697 |
Net Asset Value Per Share—Admiral Shares | $47.47 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 119,600 |
Interest1 | 5 |
Securities Lending—Net | 679 |
Total Income | 120,284 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 632 |
Management and Administrative— ETF Shares | 4,868 |
Management and Administrative— Admiral Shares | 349 |
Marketing and Distribution— ETF Shares | 182 |
Marketing and Distribution— Admiral Shares | 27 |
Custodian Fees | 3 |
Shareholders’ Reports—ETF Shares | 154 |
Shareholders’ Reports—Admiral Shares | 7 |
Trustees’ Fees and Expenses | 3 |
Other Expenses | 8 |
Total Expenses | 6,233 |
Net Investment Income | 114,051 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 452,377 |
Swap Contracts | (7,712) |
Realized Net Gain (Loss) | 444,665 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (496,227) |
Swap Contracts | — |
Change in Unrealized Appreciation (Depreciation) | (496,227) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 62,489 |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $5,000, ($7,000), less than $1,000, and ($1,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $465,349,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 114,051 | 193,525 | |
Realized Net Gain (Loss) | 444,665 | 444,462 | |
Change in Unrealized Appreciation (Depreciation) | (496,227) | 3,301,886 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 62,489 | 3,939,873 | |
Distributions | |||
ETF Shares | (126,291) | (169,520) | |
Admiral Shares | (9,157) | (12,270) | |
Total Distributions | (135,448) | (181,790) | |
Capital Share Transactions | |||
ETF Shares | 1,066,885 | 1,303,483 | |
Admiral Shares | 98,428 | 133,926 | |
Net Increase (Decrease) from Capital Share Transactions | 1,165,313 | 1,437,409 | |
Total Increase (Decrease) | 1,092,354 | 5,195,492 | |
Net Assets | |||
Beginning of Period | 11,767,872 | 6,572,380 | |
End of Period | 12,860,226 | 11,767,872 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $94.79 | $61.18 | $67.31 | $71.60 | $62.26 | $50.81 |
Investment Operations | ||||||
Net Investment Income1 | .878 | 1.676 | 1.652 | 1.539 | 1.298 | 1.035 |
Net Realized and Unrealized Gain (Loss) on Investments | .117 | 33.519 | (6.081) | (4.338) | 9.307 | 11.387 |
Total from Investment Operations | .995 | 35.195 | (4.429) | (2.799) | 10.605 | 12.422 |
Distributions | ||||||
Dividends from Net Investment Income | (1.055) | (1.585) | (1.701) | (1.491) | (1.265) | (.972) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.055) | (1.585) | (1.701) | (1.491) | (1.265) | (.972) |
Net Asset Value, End of Period | $94.73 | $94.79 | $61.18 | $67.31 | $71.60 | $62.26 |
Total Return | 1.05% | 58.26% | -6.73% | -3.85% | 17.15% | 24.65% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,946 | $10,946 | $6,140 | $7,222 | $8,512 | $6,127 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.83% | 2.09% | 2.53% | 2.30% | 1.87% | 1.75% |
Portfolio Turnover Rate2 | 2% | 4% | 5% | 5% | 3% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $47.51 | $30.66 | $33.73 | $35.88 | $31.20 | $25.47 |
Investment Operations | ||||||
Net Investment Income1 | .439 | .841 | .828 | .771 | .651 | .514 |
Net Realized and Unrealized Gain (Loss) on Investments | .049 | 16.803 | (3.046) | (2.174) | 4.663 | 5.704 |
Total from Investment Operations | .488 | 17.644 | (2.218) | (1.403) | 5.314 | 6.218 |
Distributions | ||||||
Dividends from Net Investment Income | (.528) | (.794) | (.852) | (.747) | (.634) | (.488) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.528) | (.794) | (.852) | (.747) | (.634) | (.488) |
Net Asset Value, End of Period | $47.47 | $47.51 | $30.66 | $33.73 | $35.88 | $31.20 |
Total Return2 | 1.03% | 58.32% | -6.70% | -3.87% | 17.16% | 24.62% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $915 | $822 | $432 | $490 | $690 | $518 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.83% | 2.09% | 2.53% | 2.30% | 1.87% | 1.75% |
Portfolio Turnover Rate3 | 2% | 4% | 5% | 5% | 3% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 12,846,073 | — | — | 12,846,073 |
Corporate Bonds | — | 24 | — | 24 |
Temporary Cash Investments | 30,009 | — | — | 30,009 |
Total | 12,876,082 | 24 | — | 12,876,106 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | — | — | — |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 10,732,935 |
Gross Unrealized Appreciation | 2,378,262 |
Gross Unrealized Depreciation | (235,091) |
Net Unrealized Appreciation (Depreciation) | 2,143,171 |
E. | During the six months ended February 28, 2022, the fund purchased $2,597,738,000 of investment securities and sold $1,444,685,000 of investment securities, other than temporary cash investments. Purchases and sales include $2,005,725,000 and $1,213,504,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 2,285,117 | 23,378 | 2,863,520 | 35,814 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,218,232) | (12,750) | (1,560,037) | (20,700) | |
Net Increase (Decrease)—ETF Shares | 1,066,885 | 10,628 | 1,303,483 | 15,114 | |
Admiral Shares | |||||
Issued | 300,584 | 6,158 | 407,353 | 10,001 | |
Issued in Lieu of Cash Distributions | 7,720 | 162 | 10,077 | 270 | |
Redeemed | (209,876) | (4,354) | (283,504) | (7,060) | |
Net Increase (Decrease)—Admiral Shares | 98,428 | 1,966 | 133,926 | 3,211 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Biotechnology | 17.1% |
Health Care Equipment & Supplies | 21.7 |
Health Care Providers & Services | 21.2 |
Health Care Technology | 1.9 |
Life Sciences Tools & Services | 12.9 |
Pharmaceuticals | 25.2 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Biotechnology (17.0%) | |||
AbbVie Inc. | 5,870,197 | 867,439 | |
Amgen Inc. | 1,870,238 | 423,571 | |
Gilead Sciences Inc. | 3,964,458 | 239,453 | |
* | Regeneron Pharmaceuticals Inc. | 351,039 | 217,068 |
* | Vertex Pharmaceuticals Inc. | 844,191 | 194,181 |
* | Moderna Inc. | 1,144,412 | 175,782 |
* | Biogen Inc. | 487,745 | 102,919 |
* | Horizon Therapeutics plc | 715,376 | 65,221 |
* | Alnylam Pharmaceuticals Inc. | 397,219 | 62,701 |
* | Seagen Inc. | 455,436 | 58,692 |
* | BioMarin Pharmaceutical Inc. | 609,797 | 47,637 |
* | Exact Sciences Corp. | 572,342 | 44,677 |
* | Incyte Corp. | 623,470 | 42,583 |
* | Neurocrine Biosciences Inc. | 315,029 | 28,312 |
* | United Therapeutics Corp. | 149,496 | 24,846 |
* | Biohaven Pharmaceutical Holding Co. Ltd. | 195,821 | 23,246 |
* | Intellia Therapeutics Inc. | 222,455 | 21,990 |
* | Exelixis Inc. | 1,050,831 | 21,574 |
* | Sarepta Therapeutics Inc. | 274,821 | 21,054 |
*,1 | Novavax Inc. | 238,562 | �� 19,889 |
* | Natera Inc. | 282,820 | 18,595 |
* | Arena Pharmaceuticals Inc. | 193,433 | 18,370 |
* | Halozyme Therapeutics Inc. | 444,089 | 15,752 |
* | Arrowhead Pharmaceuticals Inc. | 329,925 | 14,517 |
* | Ultragenyx Pharmaceutical Inc. | 215,171 | 14,485 |
* | Ionis Pharmaceuticals Inc. | 421,779 | 14,079 |
* | Alkermes plc | 537,199 | 13,355 |
* | CRISPR Therapeutics AG | 203,455 | 12,486 |
* | Mirati Therapeutics Inc. | 128,512 | 11,346 |
* | Blueprint Medicines Corp. | 185,470 | 11,230 |
* | Apellis Pharmaceuticals Inc. | 254,551 | 10,826 |
* | ACADIA Pharmaceuticals Inc. | 399,682 | 10,156 |
* | BioCryst Pharmaceuticals Inc. | 597,677 | 9,927 |
* | Insmed Inc. | 393,444 | 9,403 |
* | Beam Therapeutics Inc. | 113,267 | 8,874 |
* | Cytokinetics Inc. | 250,838 | 8,860 |
* | Fate Therapeutics Inc. | 253,191 | 8,748 |
* | Denali Therapeutics Inc. | 263,307 | 8,573 |
* | Twist Bioscience Corp. | 148,402 | 8,302 |
* | PTC Therapeutics Inc. | 211,265 | 7,420 |
Shares | Market Value• ($000) | ||
* | Karuna Therapeutics Inc. | 68,773 | 7,221 |
* | CareDx Inc. | 175,954 | 6,753 |
* | Emergent BioSolutions Inc. | 160,695 | 6,650 |
* | Iovance Biotherapeutics Inc. | 417,969 | 6,550 |
* | Veracyte Inc. | 235,138 | 6,537 |
* | Myriad Genetics Inc. | 265,176 | 6,465 |
* | Sage Therapeutics Inc. | 175,354 | 6,378 |
* | Amicus Therapeutics Inc. | 741,316 | 6,034 |
* | Global Blood Therapeutics Inc. | 192,936 | 5,827 |
* | Ligand Pharmaceuticals Inc. | 55,402 | 5,608 |
* | Ironwood Pharmaceuticals Inc. Class A | 517,313 | 5,566 |
* | Vir Biotechnology Inc. | 217,806 | 5,487 |
* | Xencor Inc. | 175,096 | 5,482 |
* | Vericel Corp. | 132,684 | 5,468 |
* | Agios Pharmaceuticals Inc. | 162,732 | 5,066 |
* | Travere Thrapeutics Inc. | 183,223 | 4,995 |
* | ChemoCentryx Inc. | 162,876 | 4,942 |
* | Dynavax Technologies Corp. | 398,548 | 4,886 |
* | Arcus Biosciences Inc. | 128,444 | 4,778 |
* | OPKO Health Inc. | 1,465,864 | 4,588 |
* | Aurinia Pharmaceuticals Inc. | 366,266 | 4,505 |
* | Turning Point Therapeutics Inc. | 140,398 | 4,445 |
* | Xenon Pharmaceuticals Inc. | 137,273 | 4,352 |
* | Enanta Pharmaceuticals Inc. | 60,840 | 4,284 |
* | IVERIC bio Inc. | 266,725 | 4,278 |
* | Avid Bioservices Inc. | 204,863 | 4,196 |
* | TG Therapeutics Inc. | 401,235 | 3,960 |
* | Editas Medicine Inc. Class A | 228,469 | 3,911 |
* | FibroGen Inc. | 277,673 | 3,907 |
* | Cerevel Therapeutics Holdings Inc. | 146,942 | 3,890 |
* | ImmunoGen Inc. | 673,854 | 3,801 |
* | Zentalis Pharmaceuticals Inc. | 75,299 | 3,757 |
* | Prothena Corp. plc | 108,446 | 3,752 |
* | Kymera Therapeutics Inc. | 93,715 | 3,726 |
* | SpringWorks Therapeutics Inc. | 65,808 | 3,724 |
* | Celldex Therapeutics Inc. | 124,321 | 3,717 |
* | Krystal Biotech Inc. | 58,219 | 3,700 |
* | Relay Therapeutics Inc. | 143,980 | 3,471 |
* | Protagonist Therapeutics Inc. | 142,828 | 3,468 |
* | Atara Biotherapeutics Inc. | 250,431 | 3,218 |
Shares | Market Value• ($000) | ||
* | Madrigal Pharmaceuticals Inc. | 34,133 | 3,169 |
* | REVOLUTION Medicines Inc. | 160,194 | 3,031 |
* | Kura Oncology Inc. | 188,599 | 2,993 |
* | REGENXBIO Inc. | 107,191 | 2,809 |
* | Alector Inc. | 176,678 | 2,799 |
* | Anavex Life Sciences Corp. | 241,839 | 2,651 |
* | Merus NV | 91,806 | 2,579 |
*,1 | Sorrento Therapeutics Inc. | 968,371 | 2,450 |
* | Morphic Holding Inc. | 60,995 | 2,431 |
* | Coherus Biosciences Inc. | 205,183 | 2,419 |
* | Allogene Therapeutics Inc. | 262,722 | 2,404 |
* | Sangamo Therapeutics Inc. | 409,304 | 2,394 |
* | Keros Therapeutics Inc. | 43,212 | 2,320 |
*,1 | Ocugen Inc. | 658,294 | 2,317 |
* | Rocket Pharmaceuticals Inc. | 128,833 | 2,294 |
* | Heron Therapeutics Inc. | 319,543 | 2,269 |
*,1 | Inovio Pharmaceuticals Inc. | 695,114 | 2,252 |
* | Crinetics Pharmaceuticals Inc. | 110,709 | 2,216 |
* | Vanda Pharmaceuticals Inc. | 186,610 | 2,120 |
* | MannKind Corp. | 799,825 | 2,096 |
* | Syndax Pharmaceuticals Inc. | 131,712 | 2,053 |
* | Avidity Biosciences Inc. | 117,252 | 1,989 |
* | UniQure NV | 113,998 | 1,937 |
* | Agenus Inc. | 684,546 | 1,848 |
* | Seres Therapeutics Inc. | 226,567 | 1,813 |
* | Verve Therapeutics Inc. | 55,458 | 1,811 |
* | AnaptysBio Inc. | 58,754 | 1,796 |
*,1 | ImmunityBio Inc. | 261,387 | 1,788 |
* | Eagle Pharmaceuticals Inc. | 36,492 | 1,729 |
* | iTeos Therapeutics Inc. | 46,512 | 1,680 |
* | Prometheus Biosciences Inc. | 38,478 | 1,675 |
*,1 | Myovant Sciences Ltd. | 124,673 | 1,673 |
* | Arcturus Therapeutics Holdings Inc. | 69,172 | 1,658 |
* | Vaxcyte Inc. | 70,940 | 1,644 |
* | Anika Therapeutics Inc. | 47,639 | 1,548 |
* | Bridgebio Pharma Inc. | 197,015 | 1,537 |
* | MacroGenics Inc. | 161,339 | 1,509 |
* | Gossamer Bio Inc. | 166,533 | 1,504 |
* | Arcutis Biotherapeutics Inc. | 82,920 | 1,476 |
*,1 | Recursion Pharmaceuticals Inc. Class A | 131,237 | 1,437 |
* | Rigel Pharmaceuticals Inc. | 566,774 | 1,423 |
* | Bluebird Bio Inc. | 234,082 | 1,414 |
Shares | Market Value• ($000) | ||
* | Scholar Rock Holding Corp. | 77,460 | 1,348 |
* | Rapt Therapeutics Inc. | 63,477 | 1,270 |
* | MiMedx Group Inc. | 241,104 | 1,218 |
*,1 | Intercept Pharmaceuticals Inc. | 84,086 | 1,199 |
* | Bioxcel Therapeutics Inc. | 64,977 | 1,190 |
* | Zymeworks Inc. | 164,219 | 1,189 |
* | Ideaya Biosciences Inc. | 88,679 | 1,171 |
* | 2seventy bio Inc. | 77,833 | 1,155 |
* | Replimune Group Inc. | 69,944 | 1,122 |
* | Radius Health Inc. | 131,319 | 1,093 |
* | 4D Molecular Therapeutics Inc. | 79,643 | 1,091 |
* | Nurix Therapeutics Inc. | 65,365 | 1,057 |
* | Allovir Inc. | 116,917 | 1,052 |
*,1 | G1 Therapeutics Inc. | 97,576 | 1,035 |
* | MeiraGTx Holdings plc | 72,183 | 1,034 |
* | Deciphera Pharmaceuticals Inc. | 133,617 | 1,030 |
* | Praxis Precision Medicines Inc. | 74,400 | 975 |
* | Sutro Biopharma Inc. | 107,393 | 958 |
* | Akero Therapeutics Inc. | 51,062 | 905 |
* | C4 Therapeutics Inc. | 39,952 | 896 |
* | Rhythm Pharmaceuticals Inc. | 116,781 | 890 |
* | Kiniksa Pharmaceuticals Ltd. Class A | 86,612 | 887 |
* | Kodiak Sciences Inc. | 102,200 | 883 |
*,1 | VBI Vaccines Inc. | 588,495 | 877 |
*,1 | Repare Therapeutics Inc. | 54,202 | 871 |
* | Mersana Therapeutics Inc. | 189,702 | 833 |
* | Stoke Therapeutics Inc. | 42,012 | 819 |
* | Spero Therapeutics Inc. | 84,952 | 816 |
* | Sana Biotechnology Inc. | 124,050 | 801 |
* | Y-mAbs Therapeutics Inc. | 86,674 | 790 |
* | Organogenesis Holdings Inc. Class A | 104,838 | 780 |
* | Immunovant Inc. | 132,840 | 741 |
* | Dermtech Inc. | 57,871 | 740 |
* | Viridian Therapeutics Inc. | 39,995 | 723 |
* | Cullinan Oncology Inc. | 50,303 | 721 |
* | Precigen Inc. | 307,465 | 692 |
* | Precision BioSciences Inc. | 160,019 | 680 |
* | Inhibrx Inc. | 31,018 | 667 |
* | Rubius Therapeutics Inc. | 132,674 | 662 |
* | ORIC Pharmaceuticals Inc. | 84,319 | 654 |
* | Dyne Therapeutics Inc. | 75,679 | 649 |
* | Generation Bio Co. | 123,091 | 630 |
* | Allakos Inc. | 106,779 | 597 |
* | PMV Pharmaceuticals Inc. | 36,729 | 582 |
*,1 | Monte Rosa Therapeutics Inc. | 38,297 | 549 |
* | Forma Therapeutics Holdings Inc. | 54,812 | 540 |
*,1 | Century Therapeutics Inc. | 35,930 | 507 |
* | ALX Oncology Holdings Inc. | 26,827 | 486 |
* | BioAtla Inc. | 71,283 | 462 |
* | Lexicon Pharmaceuticals Inc. | 206,639 | 428 |
* | IGM Biosciences Inc. | 25,504 | 425 |
Shares | Market Value• ($000) | ||
* | Kronos Bio Inc. | 55,105 | 415 |
* | Annexon Inc. | 75,846 | 368 |
* | Prelude Therapeutics Inc. | 41,140 | 363 |
* | Taysha Gene Therapies Inc. | 55,741 | 355 |
* | Nkarta Inc. | 38,005 | 344 |
* | Cogent Biosciences Inc. | 52,685 | 312 |
* | Kinnate Biopharma Inc. | 35,501 | 276 |
* | Applied Molecular Transport Inc. | 37,978 | 249 |
* | Shattuck Labs Inc. | 47,835 | 239 |
*,1 | Cortexyme Inc. | 54,054 | 235 |
* | Aligos Therapeutics Inc. | 83,763 | 203 |
* | Olema Pharmaceuticals Inc. | 32,489 | 152 |
*,2 | Alder Biopharmaceuticals CVR | 157,578 | 139 |
*,2 | PDL BioPharma Inc. | 311,327 | — |
*,2 | Progenics Pharmaceuticals Inc. CVR | 215,826 | — |
* | Geron Corp. Warrant Exp. 12/31/25 | 152,449 | — |
* | Advaxis Inc. Warrants Exp. 9/11/24 | 7,710 | — |
*,2 | Prevail Therapeutics Inc. CVR | 78 | — |
3,265,457 | |||
Health Care Equipment & Supplies (21.7%) | |||
Abbott Laboratories | 5,871,531 | 708,224 | |
Medtronic plc | 4,465,348 | 468,817 | |
* | Intuitive Surgical Inc. | 1,185,291 | 344,126 |
Stryker Corp. | 1,127,282 | 296,870 | |
Becton Dickinson and Co. | 943,069 | 255,836 | |
* | Edwards Lifesciences Corp. | 2,073,029 | 232,946 |
* | Boston Scientific Corp. | 4,731,545 | 208,992 |
* | IDEXX Laboratories Inc. | 281,545 | 149,881 |
Baxter International Inc. | 1,662,317 | 141,247 | |
* | DexCom Inc. | 321,856 | 133,219 |
* | Align Technology Inc. | 248,737 | 127,219 |
ResMed Inc. | 483,849 | 119,390 | |
Zimmer Biomet Holdings Inc. | 693,798 | 88,244 | |
STERIS plc | 332,067 | 79,696 | |
Cooper Cos. Inc. | 163,658 | 66,939 | |
* | Insulet Corp. | 229,030 | 60,622 |
* | Hologic Inc. | 834,818 | 59,414 |
Teleflex Inc. | 155,601 | 52,330 | |
* | ABIOMED Inc. | 151,097 | 46,952 |
DENTSPLY SIRONA Inc. | 725,640 | 39,286 | |
* | Masimo Corp. | 174,196 | 27,427 |
* | Penumbra Inc. | 117,904 | 26,144 |
* | Envista Holdings Corp. | 535,809 | 25,719 |
* | Novocure Ltd. | 310,476 | 25,416 |
* | Tandem Diabetes Care Inc. | 211,056 | 23,771 |
* | Shockwave Medical Inc. | 105,545 | 18,706 |
* | Globus Medical Inc. Class A | 262,396 | 18,452 |
* | Integra LifeSciences Holdings Corp. | 239,380 | 16,053 |
* | ICU Medical Inc. | 67,065 | 15,876 |
CONMED Corp. | 97,109 | 14,193 | |
* | LivaNova plc | 176,654 | 13,924 |
* | Quidel Corp. | 124,397 | 13,160 |
* | Neogen Corp. | 357,475 | 12,762 |
Shares | Market Value• ($000) | ||
* | iRhythm Technologies Inc. | 97,532 | 12,608 |
* | Merit Medical Systems Inc. | 168,616 | 10,965 |
* | Lantheus Holdings Inc. | 224,754 | 10,748 |
* | AtriCure Inc. | 145,086 | 10,076 |
* | STAAR Surgical Co. | 126,523 | 10,036 |
* | Haemonetics Corp. | 169,956 | 9,808 |
* | NuVasive Inc. | 171,590 | 9,286 |
* | Integer Holdings Corp. | 109,670 | 9,198 |
* | Glaukos Corp. | 155,833 | 8,619 |
* | Nevro Corp. | 109,890 | 7,879 |
* | Ortho Clinical Diagnostics Holdings plc Class H | 393,639 | 6,964 |
* | Axonics Inc. | 115,505 | 6,556 |
* | Inari Medical Inc. | 66,825 | 5,879 |
* | Outset Medical Inc. | 133,095 | 5,852 |
* | Avanos Medical Inc. | 159,463 | 5,643 |
* | Heska Corp. | 33,744 | 4,792 |
Mesa Laboratories Inc. | 17,442 | 4,453 | |
* | CryoPort Inc. | 122,399 | 4,202 |
* | Figs Inc. Class A | 252,240 | 4,144 |
* | Silk Road Medical Inc. | 109,646 | 4,071 |
* | Establishment Labs Holdings Inc. | 63,887 | 3,861 |
* | Meridian Bioscience Inc. | 136,610 | 3,456 |
Atrion Corp. | 4,780 | 3,420 | |
* | Cerus Corp. | 570,642 | 3,350 |
* | Natus Medical Inc. | 112,759 | 3,137 |
LeMaitre Vascular Inc. | 65,370 | 3,103 | |
* | Varex Imaging Corp. | 130,141 | 3,077 |
* | AngioDynamics Inc. | 129,509 | 3,047 |
* | Intersect ENT Inc. | 105,696 | 2,875 |
* | Cardiovascular Systems Inc. | 135,193 | 2,847 |
* | Artivion Inc. | 131,941 | 2,579 |
* | OrthoPediatrics Corp. | 45,561 | 2,554 |
* | Alphatec Holdings Inc. | 214,707 | 2,366 |
* | Inogen Inc. | 64,159 | 2,239 |
* | Orthofix Medical Inc. | 65,879 | 2,239 |
* | Surmodics Inc. | 46,010 | 2,065 |
* | BioLife Solutions Inc. | 83,406 | 1,960 |
* | SI-BONE Inc. | 88,846 | 1,960 |
* | Cutera Inc. | 50,746 | 1,947 |
* | Butterfly Network Inc. | 370,073 | 1,906 |
* | OraSure Technologies Inc. | 241,436 | 1,883 |
* | ViewRay Inc. | 442,107 | 1,839 |
* | Pulmonx Corp. | 67,081 | 1,762 |
* | TransMedics Group Inc. | 81,818 | 1,515 |
* | Tactile Systems Technology Inc. | 64,645 | 1,316 |
* | Axogen Inc. | 128,737 | 1,202 |
* | Treace Medical Concepts Inc. | 52,376 | 1,128 |
* | Vapotherm Inc. | 51,415 | 781 |
*,1 | SmileDirectClub Inc. | 351,570 | 770 |
4,149,816 | |||
Health Care Providers & Services (21.2%) | |||
UnitedHealth Group Inc. | 3,127,419 | 1,488,245 | |
CVS Health Corp. | 4,383,192 | 454,318 | |
Anthem Inc. | 805,950 | 364,168 | |
Cigna Corp. | 1,100,498 | 261,676 | |
HCA Healthcare Inc. | 826,158 | 206,796 | |
Humana Inc. | 426,797 | 185,366 | |
* | Centene Corp. | 1,937,670 | 160,090 |
McKesson Corp. | 506,887 | 139,374 | |
* | Laboratory Corp. of America Holdings | 317,747 | 86,192 |
Shares | Market Value• ($000) | ||
AmerisourceBergen Corp. Class A | 518,180 | 73,856 | |
* | Molina Healthcare Inc. | 193,979 | 59,526 |
Quest Diagnostics Inc. | 407,302 | 53,467 | |
Cardinal Health Inc. | 935,516 | 50,527 | |
* | Henry Schein Inc. | 460,159 | 39,749 |
Universal Health Services Inc. Class B | 242,709 | 34,933 | |
* | Tenet Healthcare Corp. | 302,187 | 25,985 |
* | DaVita Inc. | 219,928 | 24,801 |
Chemed Corp. | 51,112 | 24,446 | |
Encompass Health Corp. | 330,018 | 21,788 | |
* | Guardant Health Inc. | 287,051 | 19,023 |
* | Amedisys Inc. | 108,299 | 17,354 |
* | AMN Healthcare Services Inc. | 157,053 | 16,670 |
* | Acadia Healthcare Co. Inc. | 284,080 | 16,110 |
* | HealthEquity Inc. | 276,989 | 14,877 |
Ensign Group Inc. | 174,394 | 14,656 | |
Premier Inc. Class A | 404,161 | 14,526 | |
* | LHC Group Inc. | 99,994 | 13,616 |
* | R1 RCM Inc. | 414,088 | 11,259 |
* | Option Care Health Inc. | 417,894 | 10,740 |
Owens & Minor Inc. | 237,805 | 10,499 | |
Patterson Cos. Inc. | 291,097 | 8,704 | |
Select Medical Holdings Corp. | 357,120 | 8,267 | |
* | Invitae Corp. | 677,438 | 7,310 |
* | Progyny Inc. | 180,308 | 7,097 |
* | Oak Street Health Inc. | 360,572 | 6,314 |
* | Surgery Partners Inc. | 117,647 | 6,149 |
* | Covetrus Inc. | 343,479 | 6,086 |
* | MEDNAX Inc. | 257,890 | 6,053 |
* | 1Life Healthcare Inc. | 508,238 | 5,494 |
* | Privia Health Group Inc. | 203,631 | 5,241 |
* | CorVel Corp. | 32,513 | 5,172 |
* | ModivCare Inc. | 41,896 | 4,944 |
* | Apollo Medical Holdings Inc. | 101,387 | 4,879 |
* | AdaptHealth Corp. Class A | 261,367 | 4,556 |
* | Addus HomeCare Corp. | 53,152 | 4,520 |
* | Brookdale Senior Living Inc. | 614,359 | 4,227 |
*,1 | Fulgent Genetics Inc. | 64,834 | 4,039 |
US Physical Therapy Inc. | 42,589 | 3,917 | |
* | Community Health Systems Inc. | 370,854 | 3,898 |
* | RadNet Inc. | 151,966 | 3,749 |
* | Tivity Health Inc. | 132,098 | 3,604 |
* | Cano Health Inc. | 600,310 | 2,923 |
* | Castle Biosciences Inc. | 67,505 | 2,922 |
National HealthCare Corp. | 43,226 | 2,811 | |
* | Cross Country Healthcare Inc. | 119,941 | 2,678 |
*,1 | Clover Health Investments Corp. Class A | 981,287 | 2,669 |
* | Hanger Inc. | 127,495 | 2,310 |
* | Accolade Inc. | 122,750 | 2,207 |
* | Apria Inc. | 58,247 | 2,175 |
* | Joint Corp. | 48,401 | 1,984 |
* | Agiliti Inc. | 107,621 | 1,938 |
* | PetIQ Inc. Class A | 82,020 | 1,627 |
* | Pennant Group Inc. | 91,788 | 1,492 |
* | 23andMe Holding Co. Class A | 310,606 | 1,388 |
*,1 | Hims & Hers Health Inc. | 257,348 | 1,343 |
Shares | Market Value• ($000) | ||
* | Signify Health Inc. Class A | 87,220 | 1,225 |
* | CareMax Inc. | 160,595 | 930 |
* | Aveanna Healthcare Holdings Inc. | 152,316 | 800 |
* | ATI Physical Therapy Inc. | 205,894 | 404 |
4,062,679 | |||
Health Care Technology (1.9%) | |||
* | Veeva Systems Inc. Class A | 460,320 | 105,436 |
Cerner Corp. | 976,437 | 91,053 | |
* | Teladoc Health Inc. | 478,560 | 36,328 |
* | Inspire Medical Systems Inc. | 90,893 | 22,183 |
* | Omnicell Inc. | 145,809 | 18,850 |
* | Change Healthcare Inc. | 773,107 | 16,560 |
* | Doximity Inc. Class A | 153,579 | 9,422 |
* | Evolent Health Inc. Class A | 296,997 | 7,915 |
* | Allscripts Healthcare Solutions Inc. | 406,560 | 7,912 |
* | Certara Inc. | 291,821 | 7,395 |
* | GoodRx Holdings Inc. Class A | 214,554 | 5,879 |
* | Schrodinger Inc. | 163,371 | 5,679 |
* | Phreesia Inc. | 151,431 | 4,663 |
* | Health Catalyst Inc. | 147,024 | 3,987 |
* | NextGen Healthcare Inc. | 192,246 | 3,755 |
* | OptimizeRx Corp. | 53,440 | 2,420 |
Simulations Plus Inc. | 53,424 | 2,104 | |
* | HealthStream Inc. | 82,558 | 1,692 |
* | Multiplan Corp. | 424,849 | 1,597 |
* | American Well Corp. Class A | 191,075 | 808 |
* | Tabula Rasa HealthCare Inc. | 77,904 | 444 |
356,082 | |||
Life Sciences Tools & Services (12.9%) | |||
Thermo Fisher Scientific Inc. | 1,308,460 | 711,802 | |
Danaher Corp. | 2,135,508 | 586,005 | |
* | Illumina Inc. | 493,058 | 161,033 |
* | IQVIA Holdings Inc. | 634,279 | 145,960 |
Agilent Technologies Inc. | 1,002,668 | 130,708 | |
* | Mettler-Toledo International Inc. | 76,315 | 107,508 |
West Pharmaceutical Services Inc. | 246,007 | 95,224 | |
PerkinElmer Inc. | 377,148 | 67,740 | |
* | Waters Corp. | 202,625 | 64,177 |
* | Avantor Inc. | 1,821,554 | 63,190 |
Bio-Techne Corp. | 130,516 | 54,740 | |
* | Charles River Laboratories International Inc. | 167,596 | 48,797 |
* | Bio-Rad Laboratories Inc. Class A | 74,218 | 46,457 |
* | Repligen Corp. | 174,519 | 34,328 |
* | Syneos Health Inc. | 344,412 | 27,277 |
Bruker Corp. | 352,537 | 24,808 | |
* | 10X Genomics Inc. Class A | 258,638 | 21,071 |
* | Medpace Holdings Inc. | 95,560 | 14,618 |
* | Maravai LifeSciences Holdings Inc. Class A | 371,131 | 14,500 |
* | Pacific Biosciences of California Inc. | 696,815 | 8,306 |
* | NeoGenomics Inc. | 387,647 | 8,300 |
* | Sotera Health Co. | 282,334 | 6,175 |
Shares | Market Value• ($000) | ||
* | NanoString Technologies Inc. | 151,997 | 5,390 |
* | Adaptive Biotechnologies Corp. | 304,784 | 4,398 |
* | Codexis Inc. | 194,364 | 3,874 |
* | Quanterix Corp. | 97,195 | 3,279 |
*,1 | Bionano Genomics Inc. | 962,675 | 2,060 |
* | Seer Inc. Class A | 102,923 | 1,577 |
* | Personalis Inc. | 109,730 | 1,152 |
*,1 | Quantum-Si Inc. | 269,558 | 1,121 |
* | Nautilus Biotechnology Inc. | 103,402 | 414 |
* | Alpha Teknova Inc. | 23,186 | 394 |
2,466,383 | |||
Pharmaceuticals (25.2%) | |||
Johnson & Johnson | 8,741,237 | 1,438,545 | |
Pfizer Inc. | 18,637,975 | 874,867 | |
Eli Lilly & Co. | 2,699,924 | 674,846 | |
Merck & Co. Inc. | 8,387,102 | 642,284 | |
Bristol-Myers Squibb Co. | 7,369,817 | 506,085 | |
Zoetis Inc. | 1,570,947 | 304,214 | |
* | Catalent Inc. | 568,354 | 57,995 |
Royalty Pharma plc Class A | 1,140,899 | 44,792 | |
Viatris Inc. | 4,014,831 | 44,203 | |
* | Elanco Animal Health Inc. (XNYS) | 1,413,608 | 40,161 |
Organon & Co. | 841,281 | 31,405 | |
* | Jazz Pharmaceuticals plc | 204,067 | 28,043 |
Perrigo Co. plc | 444,346 | 15,783 | |
* | Intra-Cellular Therapies Inc. | 271,705 | 15,074 |
* | Prestige Consumer Healthcare Inc. | 166,364 | 9,904 |
* | Pacira BioSciences Inc. | 147,514 | 9,838 |
*,1 | Tilray Brands Inc. | 1,542,050 | 9,407 |
* | Arvinas Inc. | 131,770 | 8,540 |
* | Corcept Therapeutics Inc. | 363,534 | 8,103 |
* | Nektar Therapeutics Class A | 610,838 | 6,255 |
* | Supernus Pharmaceuticals Inc. | 176,654 | 5,644 |
*,1 | Cassava Sciences Inc. | 126,499 | 5,377 |
* | Zogenix Inc. | 167,457 | 4,397 |
* | Innoviva Inc. | 208,646 | 4,008 |
* | Amphastar Pharmaceuticals Inc. | 127,773 | 3,541 |
* | Revance Therapeutics Inc. | 226,547 | 3,074 |
* | Reata Pharmaceuticals Inc. Class A | 88,135 | 2,886 |
* | Endo International plc | 770,054 | 2,395 |
* | Harmony Biosciences Holdings Inc. | 58,654 | 2,344 |
* | Axsome Therapeutics Inc. | 81,457 | 2,290 |
* | Collegium Pharmaceutical Inc. | 103,260 | 2,010 |
* | Antares Pharma Inc. | 531,149 | 1,859 |
* | Theravance Biopharma Inc. | 181,206 | 1,825 |
* | Nuvation Bio Inc. | 357,608 | 1,810 |
* | NGM Biopharmaceuticals Inc. | 102,705 | 1,526 |
* | Cara Therapeutics Inc. | 142,453 | 1,477 |
Shares | Market Value• ($000) | ||
* | Amneal Pharmaceuticals Inc. | 320,260 | 1,451 |
Phibro Animal Health Corp. Class A | 67,721 | 1,442 | |
* | Ocular Therapeutix Inc. | 240,192 | 1,340 |
*,1 | Oramed Pharmaceuticals Inc. | 120,518 | 1,241 |
* | Aerie Pharmaceuticals Inc. | 148,806 | 1,235 |
* | Fulcrum Therapeutics Inc. | 89,073 | 980 |
* | SIGA Technologies Inc. | 150,523 | 903 |
* | Phathom Pharmaceuticals Inc. | 45,992 | 834 |
* | Edgewise Therapeutics Inc. | 32,595 | 384 |
* | Pliant Therapeutics Inc. | 42,336 | 380 |
* | Atea Pharmaceuticals Inc. | 54,150 | 343 |
4,827,340 | |||
Total Common Stocks (Cost $14,515,370) | 19,127,757 | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
3,4 | Vanguard Market Liquidity Fund, 0.138% (Cost $52,687) | 526,997 | 52,695 |
Total Investments (100.2%) (Cost $14,568,057) | 19,180,452 | ||
Other Assets and Liabilities—Net (-0.2%) | (29,577) | ||
Net Assets (100.0%) | 19,150,875 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $48,820,000. |
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 $53,534,000 was received for securities on loan, of which $52,694,000 is held in Vanguard Market Liquidity Fund and $840,000 is held in cash. |
CVR—Contingent Value Rights. |
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) |
Gilead Sciences Inc. | 8/31/22 | BANA | 12,080 | (0.070) | — | (1) |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $14,515,370) | 19,127,757 |
Affiliated Issuers (Cost $52,687) | 52,695 |
Total Investments in Securities | 19,180,452 |
Investment in Vanguard | 648 |
Cash | 840 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 1,380 |
Receivables for Investment Securities Sold | 41,873 |
Receivables for Accrued Income | 25,765 |
Receivables for Capital Shares Issued | 8,676 |
Total Assets | 19,259,634 |
Liabilities | |
Due to Custodian | 3,417 |
Payables for Investment Securities Purchased | 49,909 |
Collateral for Securities on Loan | 53,534 |
Payables for Capital Shares Redeemed | 1,223 |
Payables to Vanguard | 675 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 1 |
Total Liabilities | 108,759 |
Net Assets | 19,150,875 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 14,393,956 |
Total Distributable Earnings (Loss) | 4,756,919 |
Net Assets | 19,150,875 |
ETF Shares—Net Assets | |
Applicable to 67,162,531 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,327,361 |
Net Asset Value Per Share—ETF Shares | $243.10 |
Admiral Shares—Net Assets | |
Applicable to 23,218,553 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,823,514 |
Net Asset Value Per Share—Admiral Shares | $121.61 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 128,758 |
Interest1 | 2 |
Securities Lending—Net | 442 |
Total Income | 129,202 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 750 |
Management and Administrative— ETF Shares | 7,084 |
Management and Administrative— Admiral Shares | 1,216 |
Marketing and Distribution— ETF Shares | 236 |
Marketing and Distribution— Admiral Shares | 82 |
Custodian Fees | 56 |
Shareholders’ Reports—ETF Shares | 210 |
Shareholders’ Reports—Admiral Shares | 16 |
Trustees’ Fees and Expenses | 5 |
Other Expenses | 8 |
Total Expenses | 9,663 |
Net Investment Income | 119,539 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 483,189 |
Swap Contracts | (2,196) |
Realized Net Gain (Loss) | 480,993 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (1,950,950) |
Swap Contracts | (1) |
Change in Unrealized Appreciation (Depreciation) | (1,950,951) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (1,350,419) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $2,000, ($6,000), less than $1,000, and ($2,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $515,431,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 119,539 | 201,690 | |
Realized Net Gain (Loss) | 480,993 | 644,001 | |
Change in Unrealized Appreciation (Depreciation) | (1,950,951) | 3,189,757 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (1,350,419) | 4,035,448 | |
Distributions | |||
ETF Shares | (111,710) | (168,926) | |
Admiral Shares | (19,441) | (27,075) | |
Total Distributions | (131,151) | (196,001) | |
Capital Share Transactions | |||
ETF Shares | 693,741 | 1,879,063 | |
Admiral Shares | 73,024 | 746,601 | |
Net Increase (Decrease) from Capital Share Transactions | 766,765 | 2,625,664 | |
Total Increase (Decrease) | (714,805) | 6,465,111 | |
Net Assets | |||
Beginning of Period | 19,865,680 | 13,400,569 | |
End of Period | 19,150,875 | 19,865,680 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $262.41 | $207.65 | $169.74 | $177.07 | $151.13 | $133.25 |
Investment Operations | ||||||
Net Investment Income1 | 1.551 | 2.893 | 2.702 | 3.6002 | 2.194 | 1.994 |
Net Realized and Unrealized Gain (Loss) on Investments | (19.150) | 54.714 | 37.758 | (7.457) | 25.846 | 17.846 |
Total from Investment Operations | (17.599) | 57.607 | 40.460 | (3.857) | 28.040 | 19.840 |
Distributions | ||||||
Dividends from Net Investment Income | (1.711) | (2.846) | (2.550) | (3.473) | (2.100) | (1.960) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.711) | (2.846) | (2.550) | (3.473) | (2.100) | (1.960) |
Net Asset Value, End of Period | $243.10 | $262.41 | $207.65 | $169.74 | $177.07 | $151.13 |
Total Return | -6.74% | 27.99% | 24.05% | -2.22% | 18.75% | 15.06% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $16,327 | $16,894 | $11,724 | $8,899 | $8,594 | $7,002 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.24% | 1.25% | 1.45% | 2.12%2 | 1.38% | 1.46% |
Portfolio Turnover Rate3 | 1% | 5% | 7% | 5% | 6% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $1.132 and 0.67%, respectively, resulting from a cash payment received in connection with the merger of Cigna Corp. and Express Scripts Holding Co. in December 2018. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $131.26 | $103.87 | $84.91 | $88.57 | $75.60 | $66.65 |
Investment Operations | ||||||
Net Investment Income1 | .776 | 1.450 | 1.351 | 1.8042 | 1.101 | .996 |
Net Realized and Unrealized Gain (Loss) on Investments | (9.571) | 27.365 | 18.884 | (3.727) | 12.920 | 8.934 |
Total from Investment Operations | (8.795) | 28.815 | 20.235 | (1.923) | 14.021 | 9.930 |
Distributions | ||||||
Dividends from Net Investment Income | (.855) | (1.425) | (1.275) | (1.737) | (1.051) | (.980) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.855) | (1.425) | (1.275) | (1.737) | (1.051) | (.980) |
Net Asset Value, End of Period | $121.61 | $131.26 | $103.87 | $84.91 | $88.57 | $75.60 |
Total Return3 | -6.73% | 28.01% | 24.06% | -2.21% | 18.74% | 15.07% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $2,824 | $2,972 | $1,676 | $1,316 | $1,248 | $924 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.24% | 1.25% | 1.45% | 2.12%2 | 1.38% | 1.46% |
Portfolio Turnover Rate4 | 1% | 5% | 7% | 5% | 6% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.566 and 0.67%, respectively, resulting from a cash payment received in connection with the merger of Cigna Corp. and Express Scripts Holding Co. in December 2018. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 19,127,618 | — | 139 | 19,127,757 |
Temporary Cash Investments | 52,695 | — | — | 52,695 |
Total | 19,180,313 | — | 139 | 19,180,452 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Swap Contracts | — | 1 | — | 1 |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 14,595,003 |
Gross Unrealized Appreciation | 5,343,683 |
Gross Unrealized Depreciation | (758,234) |
Net Unrealized Appreciation (Depreciation) | 4,585,449 |
E. | During the six months ended February 28, 2022, the fund purchased $1,982,400,000 of investment securities and sold $1,233,741,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,544,691,000 and $945,876,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 1,642,180 | 6,585 | 3,403,429 | 14,615 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (948,439) | (3,800) | (1,524,366) | (6,700) | |
Net Increase (Decrease)—ETF Shares | 693,741 | 2,785 | 1,879,063 | 7,915 | |
Admiral Shares | |||||
Issued | 294,565 | 2,331 | 1,140,545 | 9,947 | |
Issued in Lieu of Cash Distributions | 16,742 | 132 | 23,652 | 212 | |
Redeemed | (238,283) | (1,887) | (417,596) | (3,652) | |
Net Increase (Decrease)—Admiral Shares | 73,024 | 576 | 746,601 | 6,507 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Aerospace & Defense | 17.5% |
Air Freight & Logistics | 6.5 |
Airlines | 2.5 |
Building Products | 6.8 |
Capital Markets | 1.0 |
Commercial Services & Supplies | 6.5 |
Construction & Engineering | 2.0 |
Electrical Equipment | 7.3 |
Industrial Conglomerates | 9.3 |
Machinery | 19.4 |
Marine | 0.2 |
Professional Services | 5.8 |
Road & Rail | 11.6 |
Trading Companies & Distributors | 3.6 |
Shares | Market Value• ($000) | ||
Common Stocks (99.8%) | |||
Aerospace & Defense (17.4%) | |||
Raytheon Technologies Corp. | 1,849,870 | 189,982 | |
* | Boeing Co. | 689,988 | 141,682 |
Lockheed Martin Corp. | 306,767 | 133,076 | |
Northrop Grumman Corp. | 186,150 | 82,304 | |
General Dynamics Corp. | 293,330 | 68,771 | |
L3Harris Technologies Inc. | 218,535 | 55,139 | |
* | TransDigm Group Inc. | 64,862 | 43,236 |
Textron Inc. | 272,421 | 19,922 | |
Howmet Aerospace Inc. | 475,142 | 17,067 | |
* | Axon Enterprise Inc. | 84,571 | 11,861 |
HEICO Corp. Class A | 90,817 | 11,163 | |
Huntington Ingalls Industries Inc. | 49,498 | 10,117 | |
Woodward Inc. | 74,045 | 9,228 | |
HEICO Corp. | 53,171 | 7,843 | |
Curtiss-Wright Corp. | 48,501 | 7,155 | |
Spirit AeroSystems Holdings Inc. Class A | 129,788 | 6,489 | |
BWX Technologies Inc. | 113,909 | 6,085 | |
Hexcel Corp. | 103,439 | 5,989 | |
* | Mercury Systems Inc. | 70,124 | 4,223 |
Aerojet Rocketdyne Holdings Inc. | 84,777 | 3,285 | |
* | Kratos Defense & Security Solutions Inc. | 153,546 | 3,212 |
Moog Inc. Class A | 36,213 | 3,010 | |
Maxar Technologies Inc. | 90,136 | 2,924 | |
*,1 | Virgin Galactic Holdings Inc. | 240,420 | 2,327 |
* | AeroVironment Inc. | 29,288 | 2,081 |
* | Triumph Group Inc. | 79,618 | 1,994 |
* | AAR Corp. | 41,632 | 1,871 |
Kaman Corp. | 31,088 | 1,350 | |
* | Parsons Corp. | 31,414 | 1,089 |
* | Ducommun Inc. | 13,205 | 667 |
* | Vectrus Inc. | 14,413 | 661 |
National Presto Industries Inc. | 6,619 | 526 | |
856,329 | |||
Air Freight & Logistics (6.5%) | |||
United Parcel Service Inc. Class B | 901,157 | 189,621 | |
FedEx Corp. | 311,884 | 69,323 | |
Expeditors International of Washington Inc. | 209,373 | 21,641 | |
CH Robinson Worldwide Inc. | 160,666 | 15,533 | |
* | GXO Logistics Inc. | 127,387 | 10,692 |
* | Hub Group Inc. Class A | 41,946 | 3,540 |
Forward Air Corp. | 33,311 | 3,437 | |
* | Atlas Air Worldwide Holdings Inc. | 35,955 | 2,817 |
* | Air Transport Services Group Inc. | 73,598 | 2,319 |
318,923 |
Shares | Market Value• ($000) | ||
Airlines (2.5%) | |||
* | Southwest Airlines Co. | 731,639 | 32,046 |
* | Delta Air Lines Inc. | 791,224 | 31,586 |
* | United Airlines Holdings Inc. | 400,011 | 17,760 |
* | American Airlines Group Inc. | 799,746 | 13,796 |
* | Alaska Air Group Inc. | 154,702 | 8,685 |
* | JetBlue Airways Corp. | 392,485 | 5,993 |
* | Spirit Airlines Inc. | 134,278 | 3,368 |
* | Allegiant Travel Co. | 19,009 | 3,309 |
* | SkyWest Inc. | 62,708 | 1,763 |
* | Hawaiian Holdings Inc. | 62,888 | 1,206 |
*,1 | Frontier Group Holdings Inc. | 54,336 | 700 |
* | Sun Country Airlines Holdings Inc. | 24,504 | 663 |
* | Blade Air Mobility Inc. | 47,629 | 357 |
121,232 | |||
Building Products (6.8%) | |||
Johnson Controls International plc | 870,541 | 56,550 | |
Carrier Global Corp. | 1,017,470 | 45,664 | |
Trane Technologies plc | 293,573 | 45,190 | |
* | Builders FirstSource Inc. | 236,714 | 17,616 |
Masco Corp. | 301,713 | 16,908 | |
Carlisle Cos. Inc. | 64,630 | 15,343 | |
Fortune Brands Home & Security Inc. | 167,749 | 14,577 | |
* | Trex Co. Inc. | 142,244 | 13,064 |
Allegion plc | 110,780 | 12,687 | |
Owens Corning | 124,193 | 11,574 | |
A O Smith Corp. | 164,751 | 11,299 | |
Lennox International Inc. | 40,712 | 10,867 | |
Advanced Drainage Systems Inc. | 66,015 | 7,705 | |
UFP Industries Inc. | 76,449 | 6,556 | |
Simpson Manufacturing Co. Inc. | 53,666 | 6,360 | |
Armstrong World Industries Inc. | 58,636 | 5,183 | |
Zurn Water Solutions Corp. | 150,191 | 4,884 | |
* | Resideo Technologies Inc. | 169,532 | 4,364 |
* | AZEK Co. Inc. Class A | 115,297 | 3,400 |
AAON Inc. | 51,762 | 3,031 | |
* | Masonite International Corp. | 27,879 | 2,630 |
* | JELD-WEN Holding Inc. | 113,105 | 2,610 |
CSW Industrials Inc. | 18,632 | 2,242 | |
* | Gibraltar Industries Inc. | 40,581 | 1,961 |
* | PGT Innovations Inc. | 73,515 | 1,581 |
Apogee Enterprises Inc. | 31,020 | 1,398 | |
Griffon Corp. | 59,938 | 1,382 | |
* | Cornerstone Building Brands Inc. | 62,106 | 1,371 |
* | American Woodmark Corp. | 20,510 | 1,099 |
Quanex Building Products Corp. | 41,027 | 938 | |
Insteel Industries Inc. | 24,138 | 896 |
Shares | Market Value• ($000) | ||
* | Janus International Group Inc. | 90,363 | 870 |
*,1 | View Inc. | 68,600 | 166 |
331,966 | |||
Capital Markets (1.0%) | |||
S&P Global Inc. | 133,332 | 50,093 | |
Commercial Services & Supplies (6.5%) | |||
Waste Management Inc. | 517,033 | 74,660 | |
Cintas Corp. | 115,005 | 43,164 | |
Waste Connections Inc. (XTSE) | 321,959 | 39,759 | |
Republic Services Inc. Class A | 274,354 | 32,999 | |
* | Copart Inc. | 263,835 | 32,420 |
Tetra Tech Inc. | 66,581 | 10,571 | |
Rollins Inc. | 273,537 | 8,925 | |
* | Stericycle Inc. | 113,421 | 6,619 |
MSA Safety Inc. | 46,059 | 6,407 | |
* | IAA Inc. | 166,648 | 6,123 |
* | Clean Harbors Inc. | 63,843 | 6,092 |
* | Casella Waste Systems Inc. Class A | 62,386 | 4,704 |
Brink's Co. | 60,728 | 4,255 | |
ABM Industries Inc. | 83,192 | 3,729 | |
MillerKnoll Inc. | 93,569 | 3,638 | |
UniFirst Corp. | 18,856 | 3,418 | |
* | KAR Auction Services Inc. | 150,223 | 2,773 |
Brady Corp. Class A | 59,496 | 2,742 | |
HNI Corp. | 53,560 | 2,179 | |
* | US Ecology Inc. | 38,955 | 1,848 |
* | Driven Brands Holdings Inc. | 62,449 | 1,834 |
Deluxe Corp. | 52,997 | 1,649 | |
Healthcare Services Group Inc. | 91,307 | 1,444 | |
* | ACV Auctions Inc. Class A | 108,960 | 1,437 |
ADT Inc. | 191,111 | 1,397 | |
* | Montrose Environmental Group Inc. | 30,916 | 1,364 |
* | CoreCivic Inc. | 148,942 | 1,357 |
* | Cimpress plc | 20,917 | 1,318 |
Matthews International Corp. Class A | 38,895 | 1,290 | |
Steelcase Inc. Class A | 103,400 | 1,258 | |
* | Harsco Corp. | 98,455 | 1,173 |
Pitney Bowes Inc. | 215,207 | 1,072 | |
ACCO Brands Corp. | 119,075 | 1,024 | |
Interface Inc. Class A | 72,746 | 949 | |
GEO Group Inc. | 153,210 | 913 | |
* | Viad Corp. | 25,113 | 877 |
* | SP Plus Corp. | 28,873 | 862 |
* | BrightView Holdings Inc. | 52,575 | 710 |
VSE Corp. | 13,445 | 641 | |
* | Heritage-Crystal Clean Inc. | 19,029 | 534 |
320,128 | |||
Construction & Engineering (2.0%) | |||
Quanta Services Inc. | 176,058 | 19,180 | |
AECOM | 166,947 | 12,130 |
Shares | Market Value• ($000) | ||
EMCOR Group Inc. | 65,941 | 7,619 | |
* | WillScot Mobile Mini Holdings Corp. | 206,857 | 7,350 |
MDU Resources Group Inc. | 249,366 | 6,676 | |
* | MasTec Inc. | 73,582 | 5,795 |
Valmont Industries Inc. | 26,279 | 5,688 | |
* | API Group Corp. | 194,036 | 4,185 |
Comfort Systems USA Inc. | 44,518 | 3,828 | |
* | Fluor Corp. | 175,172 | 3,794 |
* | Dycom Industries Inc. | 37,279 | 3,246 |
Arcosa Inc. | 59,809 | 3,150 | |
* | Ameresco Inc. Class A | 33,248 | 2,136 |
* | MYR Group Inc. | 20,810 | 1,868 |
Primoris Services Corp. | 66,626 | 1,757 | |
* | NV5 Global Inc. | 16,197 | 1,737 |
Granite Construction Inc. | 56,293 | 1,704 | |
* | Construction Partners Inc. Class A | 42,665 | 1,142 |
* | Great Lakes Dredge & Dock Corp. | 80,399 | 1,135 |
* | Sterling Construction Co. Inc. | 35,190 | 1,039 |
Argan Inc. | 19,499 | 758 | |
* | Tutor Perini Corp. | 57,263 | 561 |
* | IES Holdings Inc. | 11,689 | 491 |
96,969 | |||
Electrical Equipment (7.3%) | |||
Eaton Corp. plc | 492,601 | 76,003 | |
Emerson Electric Co. | 735,219 | 68,317 | |
Rockwell Automation Inc. | 143,332 | 38,209 | |
AMETEK Inc. | 285,878 | 37,104 | |
* | Generac Holdings Inc. | 77,961 | 24,594 |
* | Plug Power Inc. | 640,906 | 16,208 |
Regal Rexnord Corp. | 83,714 | 13,424 | |
Hubbell Inc. Class B | 67,314 | 11,999 | |
* | Sensata Technologies Holding plc | 195,777 | 11,337 |
Acuity Brands Inc. | 43,247 | 7,887 | |
nVent Electric plc | 207,657 | 7,046 | |
* | Sunrun Inc. | 217,862 | 5,943 |
* | Atkore Inc. | 56,854 | 5,783 |
Vertiv Holdings Co. Class A | 393,937 | 5,129 | |
* | Bloom Energy Corp. Class A | 182,420 | 4,050 |
EnerSys | 51,699 | 3,760 | |
*,1 | ChargePoint Holdings Inc. | 221,744 | 3,220 |
Encore Wire Corp. | 25,029 | 2,914 | |
*,1 | FuelCell Energy Inc. | 452,263 | 2,714 |
GrafTech International Ltd. | 211,320 | 2,130 | |
* | Vicor Corp. | 27,804 | 2,079 |
* | Shoals Technologies Group Inc. Class A | 129,488 | 2,047 |
* | Array Technologies Inc. | 149,919 | 1,685 |
AZZ Inc. | 30,623 | 1,508 | |
*,1 | Blink Charging Co. | 46,887 | 1,152 |
* | Thermon Group Holdings Inc. | 41,675 | 713 |
* | TPI Composites Inc. | 46,308 | 626 |
* | Stem Inc. | 62,151 | 592 |
*,1 | Romeo Power Inc. | 115,637 | 212 |
* | Eos Energy Enterprises Inc. | 45,578 | 132 |
358,517 | |||
Industrial Conglomerates (9.3%) | |||
Honeywell International Inc. | 850,823 | 161,444 | |
General Electric Co. | 1,357,123 | 129,619 |
Shares | Market Value• ($000) | ||
3M Co. | 712,194 | 105,867 | |
Roper Technologies Inc. | 130,367 | 58,433 | |
455,363 | |||
Machinery (19.3%) | |||
Deere & Co. | 364,035 | 131,060 | |
Caterpillar Inc. | 668,584 | 125,413 | |
Illinois Tool Works Inc. | 387,941 | 83,927 | |
Parker-Hannifin Corp. | 158,824 | 47,074 | |
PACCAR Inc. | 429,055 | 39,392 | |
Otis Worldwide Corp. | 498,750 | 39,067 | |
Cummins Inc. | 176,768 | 36,082 | |
Stanley Black & Decker Inc. | 201,460 | 32,778 | |
Dover Corp. | 177,973 | 27,917 | |
Fortive Corp. | 420,982 | 27,259 | |
Ingersoll Rand Inc. | 503,649 | 25,444 | |
Westinghouse Air Brake Technologies Corp. | 219,342 | 20,359 | |
Xylem Inc. | 222,782 | 19,816 | |
IDEX Corp. | 93,969 | 18,033 | |
Graco Inc. | 210,196 | 15,153 | |
Nordson Corp. | 64,643 | 14,641 | |
Snap-on Inc. | 66,393 | 13,954 | |
Toro Co. | 131,556 | 12,341 | |
* | Middleby Corp. | 68,703 | 12,203 |
Pentair plc | 204,505 | 11,843 | |
AGCO Corp. | 78,597 | 9,444 | |
ITT Inc. | 105,783 | 9,295 | |
Oshkosh Corp. | 83,395 | 9,260 | |
Lincoln Electric Holdings Inc. | 69,338 | 8,838 | |
Donaldson Co. Inc. | 152,748 | 8,290 | |
* | Colfax Corp. | 171,919 | 6,913 |
* | RBC Bearings Inc. | 35,662 | 6,913 |
* | Chart Industries Inc. | 45,026 | 6,502 |
* | Evoqua Water Technologies Corp. | 149,180 | 6,364 |
Crane Co. | 57,981 | 5,861 | |
Timken Co. | 84,328 | 5,529 | |
Allison Transmission Holdings Inc. | 128,827 | 5,145 | |
Watts Water Technologies Inc. Class A | 34,110 | 4,910 | |
Flowserve Corp. | 161,112 | 4,893 | |
SPX FLOW Inc. | 51,902 | 4,458 | |
John Bean Technologies Corp. | 39,179 | 4,442 | |
Hillenbrand Inc. | 89,200 | 4,256 | |
Franklin Electric Co. Inc. | 48,687 | 4,117 | |
* | Welbilt Inc. | 167,078 | 3,950 |
Mueller Industries Inc. | 63,978 | 3,650 | |
Terex Corp. | 85,940 | 3,548 | |
Albany International Corp. Class A | 39,982 | 3,511 | |
Altra Industrial Motion Corp. | 80,158 | 3,404 | |
Kennametal Inc. | 98,547 | 3,125 | |
* | Meritor Inc. | 86,742 | 3,089 |
Helios Technologies Inc. | 38,067 | 2,985 | |
* | SPX Corp. | 56,036 | 2,841 |
Kadant Inc. | 14,368 | 2,835 | |
Barnes Group Inc. | 59,544 | 2,766 | |
Federal Signal Corp. | 75,664 | 2,732 | |
EnPro Industries Inc. | 24,220 | 2,675 | |
Trinity Industries Inc. | 90,181 | 2,603 | |
Mueller Water Products Inc. Class A | 195,718 | 2,484 | |
ESCO Technologies Inc. | 32,257 | 2,244 | |
*,1 | Proterra Inc. | 215,576 | 1,949 |
Shares | Market Value• ($000) | ||
* | Proto Labs Inc. | 33,878 | 1,905 |
Tennant Co. | 22,828 | 1,798 | |
Greenbrier Cos. Inc. | 40,286 | 1,790 | |
Lindsay Corp. | 13,524 | 1,774 | |
Alamo Group Inc. | 12,612 | 1,754 | |
Standex International Corp. | 15,127 | 1,602 | |
Shyft Group Inc. | 39,596 | 1,600 | |
Columbus McKinnon Corp. | 34,926 | 1,594 | |
*,1 | Nikola Corp. | 200,941 | 1,587 |
Astec Industries Inc. | 26,763 | 1,333 | |
Enerpac Tool Group Corp. Class A | 74,471 | 1,285 | |
* | Gates Industrial Corp. plc | 72,510 | 1,149 |
Wabash National Corp. | 61,766 | 1,052 | |
Douglas Dynamics Inc. | 28,087 | 1,032 | |
*,1 | Desktop Metal Inc. Class A | 247,319 | 1,029 |
Gorman-Rupp Co. | 26,043 | 970 | |
* | Energy Recovery Inc. | 45,677 | 868 |
* | Manitowoc Co. Inc. | 43,921 | 726 |
* | Hydrofarm Holdings Group Inc. | 33,239 | 673 |
* | CIRCOR International Inc. | 24,780 | 668 |
Luxfer Holdings plc | 33,462 | 583 | |
*,1 | Ideanomics Inc. | 543,928 | 571 |
* | Hyliion Holdings Corp. | 119,666 | 517 |
REV Group Inc. | 36,568 | 494 | |
* | Blue Bird Corp. | 22,027 | 469 |
Hyster-Yale Materials Handling Inc. | 8,998 | 344 | |
*,1 | Lightning eMotors Inc. | 37,148 | 198 |
948,942 | |||
Marine (0.2%) | |||
Matson Inc. | 51,973 | 5,757 | |
* | Kirby Corp. | 74,368 | 4,845 |
Genco Shipping & Trading Ltd. | 33,994 | 656 | |
Eagle Bulk Shipping Inc. | 7,395 | 390 | |
11,648 | |||
Professional Services (5.8%) | |||
Verisk Analytics Inc. Class A | 189,232 | 33,558 | |
Equifax Inc. | 150,837 | 32,934 | |
* | CoStar Group Inc. | 488,083 | 29,778 |
TransUnion | 236,787 | 21,491 | |
Jacobs Engineering Group Inc. | 159,364 | 19,602 | |
Leidos Holdings Inc. | 164,777 | 16,781 | |
Robert Half International Inc. | 137,593 | 16,551 | |
Booz Allen Hamilton Holding Corp. Class A | 165,499 | 13,354 | |
KBR Inc. | 173,410 | 8,608 | |
* | CACI International Inc. Class A | 28,832 | 8,067 |
Nielsen Holdings plc | 420,855 | 7,331 | |
* | ASGN Inc. | 64,393 | 7,134 |
ManpowerGroup Inc. | 67,040 | 7,125 | |
* | Clarivate plc | 435,035 | 6,517 |
Science Applications International Corp. | 71,139 | 6,238 | |
* | FTI Consulting Inc. | 42,352 | 6,183 |
Exponent Inc. | 64,344 | 6,097 | |
Korn Ferry | 67,327 | 4,461 | |
* | TriNet Group Inc. | 48,726 | 4,254 |
Insperity Inc. | 45,072 | 4,054 | |
* | Upwork Inc. | 142,950 | 3,614 |
Shares | Market Value• ($000) | ||
* | Dun & Bradstreet Holdings Inc. | 186,420 | 3,460 |
ManTech International Corp. Class A | 34,142 | 2,847 | |
* | CBIZ Inc. | 57,809 | 2,249 |
ICF International Inc. | 23,322 | 2,067 | |
Kforce Inc. | 23,825 | 1,791 | |
* | Huron Consulting Group Inc. | 27,030 | 1,333 |
* | TrueBlue Inc. | 43,712 | 1,189 |
* | First Advantage Corp. | 65,812 | 1,063 |
Heidrick & Struggles International Inc. | 24,324 | 1,040 | |
Kelly Services Inc. Class A | 41,894 | 889 | |
CRA International Inc. | 9,148 | 813 | |
* | Forrester Research Inc. | 14,398 | 748 |
Resources Connection Inc. | 39,025 | 648 | |
Barrett Business Services Inc. | 9,163 | 551 | |
* | Skillsoft Corp. | 83,961 | 544 |
284,964 | |||
Road & Rail (11.6%) | |||
Union Pacific Corp. | 794,632 | 195,440 | |
CSX Corp. | 2,741,660 | 92,970 | |
Norfolk Southern Corp. | 300,795 | 77,160 | |
* | Uber Technologies Inc. | 1,796,045 | 64,712 |
Old Dominion Freight Line Inc. | 120,832 | 37,945 | |
JB Hunt Transport Services Inc. | 103,839 | 21,072 | |
* | Lyft Inc. Class A | 328,286 | 12,783 |
Knight-Swift Transportation Holdings Inc. | 194,830 | 10,614 | |
* | Saia Inc. | 32,517 | 9,340 |
* | Avis Budget Group Inc. | 48,932 | 8,976 |
* | XPO Logistics Inc. | 120,518 | 8,759 |
Landstar System Inc. | 47,108 | 7,274 | |
AMERCO | 12,124 | 7,003 | |
Ryder System Inc. | 66,424 | 5,237 | |
Werner Enterprises Inc. | 74,391 | 3,233 | |
ArcBest Corp. | 31,476 | 2,917 | |
Schneider National Inc. Class B | 69,809 | 1,823 | |
Marten Transport Ltd. | 76,141 | 1,313 | |
Heartland Express Inc. | 63,380 | 910 | |
* | TuSimple Holdings Inc. Class A | 46,487 | 810 |
* | Daseke Inc. | 54,706 | 687 |
Universal Logistics Holdings Inc. | 10,068 | 193 | |
571,171 | |||
Trading Companies & Distributors (3.6%) | |||
Fastenal Co. | 710,916 | 36,584 | |
* | United Rentals Inc. | 89,461 | 28,772 |
WW Grainger Inc. | 54,137 | 25,827 | |
Watsco Inc. | 40,840 | 11,152 | |
* | SiteOne Landscape Supply Inc. | 55,267 | 9,530 |
* | WESCO International Inc. | 56,065 | 6,825 |
* | Univar Solutions Inc. | 211,057 | 6,481 |
Air Lease Corp. Class A | 133,691 | 5,583 | |
Triton International Ltd. | 82,510 | 5,419 | |
Applied Industrial Technologies Inc. | 47,485 | 4,801 | |
MSC Industrial Direct Co. Inc. Class A | 57,741 | 4,474 | |
GATX Corp. | 41,767 | 4,454 |
Shares | Market Value• ($000) | ||
* | Beacon Roofing Supply Inc. | 69,385 | 4,141 |
Herc Holdings Inc. | 25,625 | 4,077 | |
Boise Cascade Co. | 48,574 | 3,883 | |
Rush Enterprises Inc. Class A | 53,447 | 2,776 | |
* | GMS Inc. | 47,938 | 2,601 |
McGrath RentCorp. | 29,860 | 2,427 | |
* | Veritiv Corp. | 17,137 | 1,836 |
H&E Equipment Services Inc. | 39,903 | 1,666 | |
* | NOW Inc. | 135,865 | 1,269 |
* | MRC Global Inc. | 97,262 | 982 |
* | Titan Machinery Inc. | 23,919 | 678 |
* | DXP Enterprises Inc. | 21,735 | 624 |
Global Industrial Co. | 16,575 | 527 | |
177,389 | |||
Total Common Stocks (Cost $4,505,533) | 4,903,634 | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $11,527) | 115,290 | 11,528 |
Total Investments (100.0%) (Cost $4,517,060) | 4,915,162 | ||
Other Assets and Liabilities—Net (0.0%) | (1,701) | ||
Net Assets (100.0%) | 4,913,461 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $11,245,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $11,529,000 was received for securities on loan, of which $11,528,000 is held in Vanguard Market Liquidity Fund and $1,000 is held in cash. |
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) |
L3Harris Technologies Inc. | 8/31/22 | BANA | 6,055 | (0.070) | — | — |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $4,505,533) | 4,903,634 |
Affiliated Issuers (Cost $11,527) | 11,528 |
Total Investments in Securities | 4,915,162 |
Investment in Vanguard | 168 |
Cash | 1 |
Receivables for Investment Securities Sold | 27,356 |
Receivables for Accrued Income | 9,515 |
Receivables for Capital Shares Issued | 287 |
Total Assets | 4,952,489 |
Liabilities | |
Due to Custodian | 3,632 |
Payables for Investment Securities Purchased | 23,634 |
Collateral for Securities on Loan | 11,529 |
Payables for Capital Shares Redeemed | 61 |
Payables to Vanguard | 172 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | — |
Total Liabilities | 39,028 |
Net Assets | 4,913,461 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 4,178,266 |
Total Distributable Earnings (Loss) | 735,195 |
Net Assets | 4,913,461 |
ETF Shares—Net Assets | |
Applicable to 24,589,166 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,657,415 |
Net Asset Value Per Share—ETF Shares | $189.41 |
Admiral Shares—Net Assets | |
Applicable to 2,631,370 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 256,046 |
Net Asset Value Per Share—Admiral Shares | $97.31 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 34,475 |
Interest2 | 1 |
Securities Lending—Net | 110 |
Total Income | 34,586 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 292 |
Management and Administrative— ETF Shares | 2,063 |
Management and Administrative— Admiral Shares | 144 |
Marketing and Distribution— ETF Shares | 88 |
Marketing and Distribution— Admiral Shares | 12 |
Custodian Fees | 1 |
Shareholders’ Reports—ETF Shares | 101 |
Shareholders’ Reports—Admiral Shares | 4 |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 8 |
Total Expenses | 2,714 |
Net Investment Income | 31,872 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 406,779 |
Futures Contracts | 37 |
Swap Contracts | 510 |
Realized Net Gain (Loss) | 407,326 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (677,122) |
Futures Contracts | (37) |
Swap Contracts | — |
Change in Unrealized Appreciation (Depreciation) | (677,159) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (237,961) |
1 | Dividends are net of foreign withholding taxes of $12,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,000, ($2,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $438,565,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 31,872 | 59,796 | |
Realized Net Gain (Loss) | 407,326 | 354,722 | |
Change in Unrealized Appreciation (Depreciation) | (677,159) | 957,314 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (237,961) | 1,371,832 | |
Distributions | |||
ETF Shares | (33,439) | (52,853) | |
Admiral Shares | (2,366) | (3,611) | |
Total Distributions | (35,805) | (56,464) | |
Capital Share Transactions | |||
ETF Shares | (525,644) | 1,116,320 | |
Admiral Shares | (97,265) | 78,505 | |
Net Increase (Decrease) from Capital Share Transactions | (622,909) | 1,194,825 | |
Total Increase (Decrease) | (896,675) | 2,510,193 | |
Net Assets | |||
Beginning of Period | 5,810,136 | 3,299,943 | |
End of Period | 4,913,461 | 5,810,136 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $199.27 | $146.89 | $142.53 | $146.12 | $128.70 | $111.57 |
Investment Operations | ||||||
Net Investment Income1 | 1.148 | 2.264 | 2.366 | 2.597 | 2.263 | 2.383 |
Net Realized and Unrealized Gain (Loss) on Investments | (9.761) | 52.318 | 4.554 | (3.754) | 17.412 | 16.998 |
Total from Investment Operations | (8.613) | 54.582 | 6.920 | (1.157) | 19.675 | 19.381 |
Distributions | ||||||
Dividends from Net Investment Income | (1.247) | (2.202) | (2.560) | (2.433) | (2.255) | (2.251) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.247) | (2.202) | (2.560) | (2.433) | (2.255) | (2.251) |
Net Asset Value, End of Period | $189.41 | $199.27 | $146.89 | $142.53 | $146.12 | $128.70 |
Total Return | -4.34% | 37.41% | 4.96% | -0.73% | 15.41% | 17.55% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $4,657 | $5,438 | $3,090 | $3,457 | $3,957 | $3,202 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.15% | 1.25% | 1.69% | 1.87% | 1.62% | 1.95% |
Portfolio Turnover Rate2 | 2% | 5% | 4% | 4% | 4% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $102.37 | $75.46 | $73.22 | $75.07 | $66.12 | $57.32 |
Investment Operations | ||||||
Net Investment Income1 | .572 | 1.162 | 1.221 | 1.340 | 1.154 | 1.237 |
Net Realized and Unrealized Gain (Loss) on Investments | (4.991) | 26.880 | 2.336 | (1.941) | 8.955 | 8.721 |
Total from Investment Operations | (4.419) | 28.042 | 3.557 | (.601) | 10.109 | 9.958 |
Distributions | ||||||
Dividends from Net Investment Income | (.641) | (1.132) | (1.317) | (1.249) | (1.159) | (1.158) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.641) | (1.132) | (1.317) | (1.249) | (1.159) | (1.158) |
Net Asset Value, End of Period | $97.31 | $102.37 | $75.46 | $73.22 | $75.07 | $66.12 |
Total Return2 | -4.33% | 37.43% | 4.98% | -0.75% | 15.41% | 17.55% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $256 | $372 | $210 | $202 | $213 | $176 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.11% | 1.25% | 1.71% | 1.87% | 1.62% | 1.95% |
Portfolio Turnover Rate3 | 2% | 5% | 4% | 4% | 4% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 4,903,634 | — | — | 4,903,634 |
Temporary Cash Investments | 11,528 | — | — | 11,528 |
Total | 4,915,162 | — | — | 4,915,162 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Swap Contracts | — | — | — | — |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 4,524,510 |
Gross Unrealized Appreciation | 807,505 |
Gross Unrealized Depreciation | (416,853) |
Net Unrealized Appreciation (Depreciation) | 390,652 |
E. | During the six months ended February 28, 2022, the fund purchased $663,626,000 of investment securities and sold $1,319,768,000 of investment securities, other than temporary cash investments. Purchases and sales include $557,481,000 and $1,143,505,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 591,856 | 3,025 | 2,002,840 | 10,975 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,117,500) | (5,725) | (886,520) | (4,725) | |
Net Increase (Decrease)—ETF Shares | (525,644) | (2,700) | 1,116,320 | 6,250 | |
Admiral Shares | |||||
Issued | 65,159 | 642 | 203,805 | 2,209 | |
Issued in Lieu of Cash Distributions | 2,071 | 21 | 3,138 | 36 | |
Redeemed | (164,495) | (1,670) | (128,438) | (1,384) | |
Net Increase (Decrease)—Admiral Shares | (97,265) | (1,007) | 78,505 | 861 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Communications Equipment | 3.1% |
Electronic Equipment, Instruments & Components | 3.1 |
IT Services | 15.9 |
Semiconductors & Semiconductor Equipment | 20.8 |
Software | 33.6 |
Technology Hardware, Storage & Peripherals | 23.5 |
Shares | Market Value• ($000) | ||
Common Stocks (99.8%) | |||
Communications Equipment (3.1%) | |||
Cisco Systems Inc. | 19,595,157 | 1,092,822 | |
Motorola Solutions Inc. | 787,258 | 173,535 | |
* | Arista Networks Inc. | 1,073,655 | 131,770 |
* | F5 Inc. | 287,553 | 57,755 |
Juniper Networks Inc. | 1,529,034 | 51,666 | |
* | Ciena Corp. | 728,951 | 49,875 |
* | Lumentum Holdings Inc. | 342,247 | 33,835 |
* | Viavi Solutions Inc. | 1,143,012 | 18,745 |
* | Calix Inc. | 278,007 | 15,107 |
* | ViaSat Inc. | 270,638 | 12,352 |
* | NetScout Systems Inc. | 363,605 | 11,319 |
* | CommScope Holding Co. Inc. | 1,019,680 | 9,728 |
* | Infinera Corp. | 909,922 | 8,399 |
* | Extreme Networks Inc. | 655,762 | 7,535 |
* | Plantronics Inc. | 210,737 | 5,936 |
ADTRAN Inc. | 257,265 | 5,297 | |
* | Harmonic Inc. | 546,014 | 5,083 |
* | NETGEAR Inc. | 160,143 | 4,261 |
* | Digi International Inc. | 186,935 | 3,754 |
Comtech Telecommunications Corp. | 148,349 | 3,053 | |
* | Inseego Corp. | 455,103 | 2,143 |
* | Cambium Networks Corp. | 70,042 | 1,948 |
* | Ribbon Communications Inc. | 566,035 | 1,721 |
* | Casa Systems Inc. | 254,899 | 1,060 |
1,708,699 | |||
Electronic Equipment, Instruments & Components (3.1%) | |||
TE Connectivity Ltd. | 1,521,938 | 216,770 | |
Amphenol Corp. Class A | 2,785,555 | 211,730 | |
Corning Inc. | 3,780,076 | 152,715 | |
* | Keysight Technologies Inc. | 859,206 | 135,213 |
CDW Corp. | 637,057 | 109,867 | |
* | Zebra Technologies Corp. Class A | 249,685 | 103,205 |
* | Teledyne Technologies Inc. | 218,188 | 93,686 |
* | Trimble Inc. | 1,175,160 | 81,967 |
Cognex Corp. | 831,238 | 56,158 | |
* | Arrow Electronics Inc. | 333,962 | 40,703 |
* | Flex Ltd. | 2,265,913 | 37,365 |
Jabil Inc. | 641,494 | 37,085 | |
* | II-VI Inc. | 501,820 | 34,856 |
* | Coherent Inc. | 116,435 | 30,776 |
Littelfuse Inc. | 116,877 | 30,179 | |
National Instruments Corp. | 628,467 | 25,233 | |
* | Rogers Corp. | 89,406 | 24,408 |
* | Novanta Inc. | 170,121 | 23,244 |
* | IPG Photonics Corp. | 177,976 | 23,199 |
TD SYNNEX Corp. | 206,967 | 21,075 | |
Avnet Inc. | 476,455 | 20,044 | |
Vontier Corp. | 808,774 | 19,653 |
Shares | Market Value• ($000) | ||
* | Fabrinet | 178,265 | 17,850 |
* | Insight Enterprises Inc. | 168,708 | 17,546 |
Advanced Energy Industries Inc. | 182,348 | 15,655 | |
Badger Meter Inc. | 142,144 | 14,131 | |
* | Sanmina Corp. | 315,281 | 12,542 |
Vishay Intertechnology Inc. | 648,625 | 12,447 | |
Belden Inc. | 220,124 | 12,404 | |
* | Plexus Corp. | 138,029 | 11,245 |
* | Itron Inc. | 221,719 | 10,569 |
* | Knowles Corp. | 458,917 | 9,995 |
Methode Electronics Inc. | 191,154 | 8,724 | |
* | OSI Systems Inc. | 87,340 | 7,046 |
* | TTM Technologies Inc. | 514,247 | 6,464 |
* | ePlus Inc. | 137,397 | 6,444 |
CTS Corp. | 150,747 | 5,719 | |
* | PAR Technology Corp. | 133,417 | 5,595 |
* | FARO Technologies Inc. | 94,347 | 5,165 |
Benchmark Electronics Inc. | 192,508 | 5,032 | |
* | ScanSource Inc. | 139,138 | 4,394 |
* | Arlo Technologies Inc. | 462,976 | 4,296 |
*,1 | MicroVision Inc. | 931,177 | 3,734 |
* | nLight Inc. | 217,359 | 3,543 |
* | Napco Security Technologies Inc. | 160,612 | 3,275 |
PC Connection Inc. | 64,819 | 3,163 | |
* | Kimball Electronics Inc. | 148,141 | 2,554 |
* | Aeva Technologies Inc. | 578,539 | 2,430 |
*,1 | Velodyne Lidar Inc. | 610,276 | 2,252 |
* | 908 Devices Inc. | 103,348 | 1,719 |
* | Ouster Inc. | 336,149 | 1,136 |
1,746,200 | |||
IT Services (15.8%) | |||
Visa Inc. Class A | 7,328,243 | 1,583,780 | |
Mastercard Inc. Class A | 4,086,330 | 1,474,430 | |
Accenture plc Class A | 2,941,533 | 929,583 | |
* | PayPal Holdings Inc. | 5,188,591 | 580,759 |
International Business Machines Corp. | 4,169,178 | 510,766 | |
Automatic Data Processing Inc. | 1,962,136 | 401,139 | |
* | Block Inc. (XNYS) | 2,364,617 | 301,489 |
Fidelity National Information Services Inc. | 2,865,181 | 272,851 | |
* | Fiserv Inc. | 2,764,509 | 270,010 |
* | Snowflake Inc. Class A | 980,158 | 260,389 |
Cognizant Technology Solutions Corp. Class A | 2,446,369 | 210,706 | |
Global Payments Inc. | 1,362,597 | 181,743 | |
Paychex Inc. | 1,512,473 | 180,075 | |
* | Cloudflare Inc. Class A | 1,213,996 | 141,333 |
* | Twilio Inc. Class A | 785,676 | 137,336 |
* | Okta Inc. | 688,901 | 125,959 |
* | Gartner Inc. | 388,065 | 108,821 |
* | MongoDB Inc. Class A | 278,068 | 106,219 |
Shares | Market Value• ($000) | ||
* | VeriSign Inc. | 466,966 | 99,800 |
* | FleetCor Technologies Inc. | 364,043 | 85,259 |
* | Akamai Technologies Inc. | 760,835 | 82,368 |
Broadridge Financial Solutions Inc. | 545,915 | 79,818 | |
* | GoDaddy Inc. Class A | 783,213 | 65,328 |
Jack Henry & Associates Inc. | 347,750 | 61,482 | |
* | EPAM Systems Inc. | 264,837 | 55,020 |
Concentrix Corp. | 209,744 | 41,926 | |
* | DXC Technology Co. | 1,188,989 | 40,461 |
* | WEX Inc. | 211,947 | 35,715 |
Western Union Co. | 1,900,715 | 34,555 | |
* | Affirm Holdings Inc. | 788,727 | 33,000 |
* | Euronet Worldwide Inc. | 250,152 | 32,077 |
Maximus Inc. | 296,319 | 23,368 | |
* | ExlService Holdings Inc. | 160,231 | 19,354 |
* | Perficient Inc. | 159,232 | 16,226 |
* | Sabre Corp. | 1,482,595 | 16,205 |
Alliance Data Systems Corp. | 228,525 | 15,414 | |
* | LiveRamp Holdings Inc. | 332,052 | 14,331 |
* | Kyndryl Holdings Inc. | 874,911 | 13,876 |
Switch Inc. Class A | 526,514 | 13,700 | |
EVERTEC Inc. | 299,403 | 12,084 | |
* | Shift4 Payments Inc. Class A | 227,054 | 11,954 |
* | Verra Mobility Corp. Class A | 656,437 | 11,028 |
* | Fastly Inc. Class A | 541,235 | 10,067 |
CSG Systems International Inc. | 162,699 | 10,042 | |
* | Marqeta Inc. Class A | 813,272 | 9,540 |
* | DigitalOcean Holdings Inc. | 137,372 | 8,149 |
TTEC Holdings Inc. | 95,386 | 7,583 | |
* | Repay Holdings Corp. Class A | 436,245 | 7,534 |
* | Unisys Corp. | 345,388 | 7,381 |
* | Evo Payments Inc. Class A | 241,287 | 5,817 |
* | Payoneer Global Inc. | 1,159,231 | 5,588 |
* | BigCommerce Holdings Inc. Series 1 | 205,696 | 5,328 |
* | Conduent Inc. | 930,824 | 4,533 |
* | TaskUS Inc. Class A | 147,263 | 4,229 |
* | Tucows Inc. Class A | 49,414 | 3,320 |
* | I3 Verticals Inc. Class A | 123,363 | 3,257 |
Hackett Group Inc. | 152,193 | 3,153 | |
Cass Information Systems Inc. | 78,023 | 3,088 | |
SolarWinds Corp. | 226,079 | 3,063 | |
* | Grid Dynamics Holdings Inc. | 227,711 | 2,767 |
* | Rackspace Technology Inc. | 247,378 | 2,753 |
* | International Money Express Inc. | 168,295 | 2,703 |
* | Paya Holdings Inc. | 418,918 | 2,702 |
Shares | Market Value• ($000) | ||
* | Cantaloupe Inc. | 295,779 | 2,298 |
* | Paymentus Holdings Inc. Class A | 75,646 | 1,743 |
8,808,375 | |||
Semiconductors & Semiconductor Equipment (20.7%) | |||
NVIDIA Corp. | 11,450,622 | 2,792,234 | |
Broadcom Inc. | 1,912,302 | 1,123,363 | |
* | Advanced Micro Devices Inc. | 7,596,251 | 936,922 |
Intel Corp. | 18,897,326 | 901,403 | |
QUALCOMM Inc. | 5,232,316 | 899,906 | |
Texas Instruments Inc. | 4,292,042 | 729,604 | |
Applied Materials Inc. | 4,197,130 | 563,255 | |
Micron Technology Inc. | 5,221,440 | 463,977 | |
Analog Devices Inc. | 2,494,571 | 399,855 | |
Lam Research Corp. | 658,554 | 369,679 | |
Marvell Technology Inc. | 3,833,427 | 261,938 | |
KLA Corp. | 708,592 | 246,944 | |
NXP Semiconductors NV | 1,238,104 | 235,388 | |
Microchip Technology Inc. | 2,585,169 | 181,815 | |
* | ON Semiconductor Corp. | 2,010,950 | 125,906 |
Skyworks Solutions Inc. | 772,667 | 106,759 | |
* | Enphase Energy Inc. | 599,404 | 99,921 |
Monolithic Power Systems Inc. | 204,678 | 93,886 | |
Teradyne Inc. | 764,588 | 90,160 | |
Entegris Inc. | 634,124 | 82,741 | |
* | SolarEdge Technologies Inc. | 246,340 | 78,686 |
* | Qorvo Inc. | 517,065 | 70,724 |
* | Wolfspeed Inc. | 545,884 | 56,073 |
* | Synaptics Inc. | 185,144 | 42,292 |
* | Lattice Semiconductor Corp. | 646,042 | 40,455 |
MKS Instruments Inc. | 261,784 | 39,425 | |
* | First Solar Inc. | 453,568 | 34,149 |
Universal Display Corp. | 212,337 | 32,893 | |
* | Silicon Laboratories Inc. | 207,636 | 31,916 |
Azenta Inc. | 352,730 | 30,871 | |
Power Integrations Inc. | 287,272 | 25,855 | |
CMC Materials Inc. | 135,474 | 25,121 | |
* | Ambarella Inc. | 174,713 | 24,409 |
* | Cirrus Logic Inc. | 272,987 | 23,714 |
* | MaxLinear Inc. | 348,694 | 21,392 |
* | Semtech Corp. | 308,102 | 21,376 |
* | Onto Innovation Inc. | 235,995 | 20,345 |
* | Diodes Inc. | 216,050 | 19,356 |
Kulicke & Soffa Industries Inc. | 302,037 | 15,778 | |
* | FormFactor Inc. | 378,386 | 15,321 |
* | Rambus Inc. | 531,409 | 14,348 |
* | MACOM Technology Solutions Holdings Inc. Class H | 237,011 | 14,244 |
* | SiTime Corp. | 64,180 | 12,973 |
Amkor Technology Inc. | 537,433 | 12,184 | |
* | Axcelis Technologies Inc. | 163,946 | 11,348 |
* | Ultra Clean Holdings Inc. | 221,343 | 10,140 |
* | Allegro MicroSystems Inc. | 286,902 | 8,226 |
* | SunPower Corp. | 441,003 | 7,907 |
* | Cohu Inc. | 246,167 | 7,676 |
* | Veeco Instruments Inc. | 257,191 | 7,348 |
* | Impinj Inc. | 94,497 | 6,497 |
Shares | Market Value• ($000) | ||
* | SMART Global Holdings Inc. | 226,798 | 6,226 |
* | Alpha & Omega Semiconductor Ltd. | 109,468 | 5,886 |
* | Photronics Inc. | 318,895 | 5,874 |
* | ACM Research Inc. Class A | 69,743 | 5,748 |
* | Ichor Holdings Ltd. | 148,508 | 5,232 |
* | CEVA Inc. | 118,500 | 4,831 |
* | PDF Solutions Inc. | 157,558 | 4,311 |
* | Magnachip Semiconductor Corp. | 229,520 | 4,177 |
*,1 | Meta Materials Inc. | 1,254,148 | 2,696 |
*,1 | Aehr Test Systems | 163,068 | 2,218 |
*,1 | indie Semiconductor Inc. Class A | 255,965 | 2,009 |
*,1 | SkyWater Technology Inc. | 98,941 | 1,143 |
11,539,049 | |||
Software (33.6%) | |||
Microsoft Corp. | 32,978,239 | 9,853,568 | |
* | Adobe Inc. | 2,210,594 | 1,033,851 |
* | salesforce.com Inc. | 4,548,748 | 957,648 |
Intuit Inc. | 1,267,470 | 601,250 | |
Oracle Corp. | 7,770,193 | 590,302 | |
* | ServiceNow Inc. | 925,112 | 536,491 |
* | Palo Alto Networks Inc. | 459,387 | 272,991 |
* | Autodesk Inc. | 1,023,652 | 225,439 |
* | Fortinet Inc. | 647,360 | 223,028 |
* | Synopsys Inc. | 710,264 | 221,879 |
* | Workday Inc. Class A | 899,042 | 205,926 |
* | Cadence Design Systems Inc. | 1,291,370 | 195,552 |
* | Crowdstrike Holdings Inc. Class A | 911,547 | 177,943 |
* | Trade Desk Inc. Class A | 2,032,950 | 173,451 |
* | Datadog Inc. Class A | 1,018,864 | 164,149 |
* | Zoom Video Communications Inc. Class A | 1,017,070 | 134,863 |
* | ANSYS Inc. | 407,179 | 132,003 |
VMware Inc. Class A | 979,561 | 114,922 | |
* | HubSpot Inc. | 209,641 | 110,062 |
* | DocuSign Inc. Class A | 918,924 | 108,828 |
* | Zscaler Inc. | 392,537 | 93,875 |
* | Splunk Inc. | 760,271 | 89,788 |
* | Palantir Technologies Inc. Class A | 7,572,077 | 89,729 |
* | Bill.Com Holdings Inc. | 359,707 | 85,567 |
* | Tyler Technologies Inc. | 191,675 | 82,087 |
* | Paycom Software Inc. | 238,829 | 81,013 |
SS&C Technologies Holdings Inc. | 1,071,296 | 80,315 | |
NortonLifeLock Inc. | 2,724,414 | 78,954 | |
* | Nuance Communications Inc. | 1,421,339 | 78,913 |
* | Zendesk Inc. | 566,927 | 66,143 |
* | Fair Isaac Corp. | 131,640 | 62,027 |
Citrix Systems Inc. | 585,655 | 60,030 | |
* | PTC Inc. | 525,726 | 58,503 |
* | Aspen Technology Inc. | 315,439 | 48,076 |
* | RingCentral Inc. Class A | 366,223 | 47,917 |
* | Ceridian HCM Holding Inc. | 641,704 | 46,787 |
* | Avalara Inc. | 410,076 | 42,611 |
* | Coupa Software Inc. | 349,017 | 42,235 |
* | Black Knight Inc. | 732,137 | 41,139 |
* | Manhattan Associates Inc. | 298,896 | 39,956 |
Shares | Market Value• ($000) | ||
* | Dynatrace Inc. | 875,511 | 38,890 |
* | Paylocity Holding Corp. | 182,033 | 38,671 |
* | Five9 Inc. | 321,066 | 35,317 |
* | Dropbox Inc. Class A | 1,461,063 | 33,152 |
* | Guidewire Software Inc. | 374,406 | 33,004 |
Bentley Systems Inc. Class B | 833,694 | 32,006 | |
* | Smartsheet Inc. Class A | 566,354 | 30,113 |
* | Anaplan Inc. | 624,562 | 29,585 |
* | Unity Software Inc. | 271,613 | 28,913 |
* | Nutanix Inc. Class A | 1,005,714 | 26,853 |
* | Elastic NV | 306,419 | 26,551 |
* | Rapid7 Inc. | 255,893 | 26,475 |
* | Teradata Corp. | 516,743 | 25,832 |
CDK Global Inc. | 565,055 | 25,620 | |
* | NCR Corp. | 627,948 | 25,444 |
* | Mimecast Ltd. | 301,245 | 23,958 |
Dolby Laboratories Inc. Class A | 310,879 | 23,347 | |
* | Vonage Holdings Corp. | 1,147,753 | 23,322 |
* | Mandiant Inc. | 1,150,422 | 22,778 |
* | Varonis Systems Inc. Class B | 514,405 | 22,428 |
* | SPS Commerce Inc. | 172,085 | 22,345 |
* | Digital Turbine Inc. | 439,375 | 21,301 |
* | Workiva Inc. Class A | 194,367 | 20,467 |
* | Tenable Holdings Inc. | 362,502 | 20,068 |
* | SentinelOne Inc. Class A | 483,163 | 20,051 |
* | Qualys Inc. | 158,693 | 19,886 |
* | Envestnet Inc. | 263,401 | 19,708 |
* | Blackline Inc. | 253,543 | 19,094 |
* | New Relic Inc. | 282,861 | 18,737 |
* | Box Inc. Class A | 728,212 | 18,649 |
* | Sailpoint Technologies Holdings Inc. | 449,291 | 18,587 |
* | Alteryx Inc. Class A | 288,559 | 17,977 |
*,1 | MicroStrategy Inc. Class A | 40,497 | 17,940 |
* | Asana Inc. Class A | 318,161 | 17,432 |
Pegasystems Inc. | 196,420 | 17,112 | |
* | ACI Worldwide Inc. | 510,204 | 17,102 |
* | Q2 Holdings Inc. | 260,640 | 16,955 |
* | Altair Engineering Inc. Class A | 244,417 | 16,234 |
* | Qualtrics International Inc. Class A | 527,814 | 16,009 |
* | Verint Systems Inc. | 316,167 | 15,881 |
* | Alarm.com Holdings Inc. | 230,031 | 15,143 |
* | Blackbaud Inc. | 211,766 | 13,233 |
*,1 | Marathon Digital Holdings Inc. | 499,860 | 12,671 |
* | CommVault Systems Inc. | 200,279 | 12,600 |
* | Bottomline Technologies DE Inc. | 221,472 | 12,544 |
* | Sprout Social Inc. Class A | 189,600 | 12,345 |
* | PagerDuty Inc. | 334,680 | 11,319 |
* | UiPath Inc. Class A | 317,725 | 11,028 |
* | Appian Corp. Class A | 169,936 | 10,359 |
* | Momentive Global Inc. | 628,752 | 9,884 |
*,1 | Riot Blockchain Inc. | 572,131 | 9,858 |
InterDigital Inc. | 152,089 | 9,798 | |
* | Appfolio Inc. Class A | 85,861 | 9,714 |
Progress Software Corp. | 218,161 | 9,617 | |
McAfee Corp.Class A | 365,007 | 9,487 | |
Xperi Holding Corp. | 523,418 | 9,066 | |
* | Zuora Inc. Class A | 576,757 | 8,755 |
Shares | Market Value• ($000) | ||
* | Ping Identity Holding Corp. | 361,535 | 7,607 |
* | Everbridge Inc. | 192,281 | 7,599 |
* | 8x8 Inc. | 548,561 | 7,109 |
* | Cerence Inc. | 194,838 | 7,036 |
* | E2open Parent Holdings Inc. | 767,412 | 6,891 |
* | PROS Holdings Inc. | 216,368 | 6,876 |
* | nCino Inc. | 148,114 | 6,803 |
* | LivePerson Inc. | 335,287 | 6,800 |
* | Domo Inc. Class B | 147,773 | 6,576 |
* | Jamf Holding Corp. | 184,939 | 6,327 |
* | Avaya Holdings Corp. | 436,220 | 6,007 |
* | Agilysys Inc. | 122,174 | 5,135 |
* | JFrog Ltd. | 204,553 | 5,067 |
* | Duck Creek Technologies Inc. | 211,921 | 4,976 |
*,1 | C3.ai Inc. Class A | 213,677 | 4,791 |
A10 Networks Inc. | 320,096 | 4,558 | |
* | Consensus Cloud Solutions Inc. | 78,562 | 4,373 |
* | Amplitude Inc. Class A | 203,539 | 4,364 |
*,1 | Sprinklr Inc. Class A | 358,375 | 4,300 |
* | Model N Inc. | 172,163 | 4,233 |
Ebix Inc. | 142,054 | 4,192 | |
* | Yext Inc. | 557,762 | 4,139 |
* | Clear Secure Inc. Class A | 145,839 | 3,927 |
American Software Inc. Class A | 172,515 | 3,790 | |
* | Olo Inc. Class A | 241,901 | 3,534 |
* | Mitek Systems Inc. | 236,243 | 3,511 |
* | Freshworks Inc. Class A | 174,379 | 3,195 |
* | N-able Inc. | 264,691 | 3,062 |
* | ChannelAdvisor Corp. | 170,267 | 3,056 |
* | Upland Software Inc. | 145,753 | 2,749 |
* | OneSpan Inc. | 183,084 | 2,523 |
* | BTRS Holdings Inc. Class A | 413,335 | 2,521 |
* | Vertex Inc. Class A | 172,421 | 2,402 |
*,1 | Cleanspark Inc. | 218,792 | 2,319 |
* | Digimarc Corp. | 76,037 | 2,291 |
* | Intapp Inc. | 86,986 | 2,006 |
* | WM Technology Inc. | 336,147 | 1,966 |
* | Alkami Technology Inc. | 114,669 | 1,807 |
* | ON24 Inc. | 104,658 | 1,633 |
* | Telos Corp. | 138,921 | 1,586 |
* | SecureWorks Corp. Class A | 90,265 | 1,387 |
* | Rimini Street Inc. | 256,253 | 1,161 |
* | Latch Inc. | 279,336 | 1,154 |
* | Rekor Systems Inc. | 235,868 | 1,116 |
*,1 | LiveVox Holdings Inc. | 180,890 | 908 |
18,660,389 | |||
Technology Hardware, Storage & Peripherals (23.5%) | |||
Apple Inc. | 74,834,621 | 12,356,693 | |
HP Inc. | 5,568,360 | 191,329 | |
Seagate Technology Holdings plc | 949,390 | 97,939 | |
Hewlett Packard Enterprise Co. | 6,112,725 | 97,314 | |
NetApp Inc. | 1,045,891 | 81,977 | |
* | Western Digital Corp. | 1,458,822 | 74,312 |
* | Dell Technologies Inc. Class C | 1,362,002 | 69,408 |
* | Pure Storage Inc. Class A | 1,281,956 | 33,254 |
Xerox Holdings Corp. | 733,499 | 14,457 | |
* | 3D Systems Corp. | 627,905 | 11,189 |
Shares | Market Value• ($000) | ||
* | Super Micro Computer Inc. | 206,536 | 8,115 |
* | Avid Technology Inc. | 177,680 | 5,590 |
*,1 | Corsair Gaming Inc. | 159,716 | 3,686 |
* | Diebold Nixdorf Inc. | 413,898 | 3,601 |
13,048,864 | |||
Total Common Stocks (Cost $34,755,095) | 55,511,576 | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $85,040) | 850,816 | 85,073 |
Total Investments (100.0%) (Cost $34,840,135) | 55,596,649 | ||
Other Assets and Liabilities—Net (0.0%) | 8,773 | ||
Net Assets (100.0%) | 55,605,422 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $37,831,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $36,844,000 was received for securities on loan, of which $36,822,000 is held in Vanguard Market Liquidity Fund and $22,000 is held in cash. |
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) |
Visa Inc. Class A | 8/31/22 | BANA | 108,060 | 0.030 | 190 | — |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $34,755,095) | 55,511,576 |
Affiliated Issuers (Cost $85,040) | 85,073 |
Total Investments in Securities | 55,596,649 |
Investment in Vanguard | 1,962 |
Cash | 1,504 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 3,270 |
Receivables for Investment Securities Sold | 380,438 |
Receivables for Accrued Income | 45,928 |
Receivables for Capital Shares Issued | 6,303 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 190 |
Total Assets | 56,036,244 |
Liabilities | |
Payables for Investment Securities Purchased | 382,392 |
Collateral for Securities on Loan | 36,844 |
Payables for Capital Shares Redeemed | 9,624 |
Payables to Vanguard | 1,962 |
Total Liabilities | 430,822 |
Net Assets | 55,605,422 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 30,785,373 |
Total Distributable Earnings (Loss) | 24,820,049 |
Net Assets | 55,605,422 |
ETF Shares—Net Assets | |
Applicable to 120,418,703 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 48,638,498 |
Net Asset Value Per Share—ETF Shares | $403.91 |
Admiral Shares—Net Assets | |
Applicable to 33,685,865 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,966,924 |
Net Asset Value Per Share—Admiral Shares | $206.82 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 243,114 |
Interest2 | 67 |
Securities Lending—Net | 874 |
Total Income | 244,055 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 900 |
Management and Administrative— ETF Shares | 24,095 |
Management and Administrative— Admiral Shares | 3,318 |
Marketing and Distribution— ETF Shares | 694 |
Marketing and Distribution— Admiral Shares | 240 |
Custodian Fees | 64 |
Shareholders’ Reports—ETF Shares | 322 |
Shareholders’ Reports—Admiral Shares | 28 |
Trustees’ Fees and Expenses | 15 |
Other Expenses | 8 |
Total Expenses | 29,684 |
Net Investment Income | 214,371 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 4,323,893 |
Futures Contracts | 2,201 |
Swap Contracts | (6,128) |
Realized Net Gain (Loss) | 4,319,966 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (7,486,848) |
Futures Contracts | (2,796) |
Swap Contracts | 30 |
Change in Unrealized Appreciation (Depreciation) | (7,489,614) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (2,955,277) |
1 | Dividends are net of foreign withholding taxes of $214,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $65,000, ($6,000), $2,000, and ($11,000), respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $4,512,609,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 214,371 | 352,311 | |
Realized Net Gain (Loss) | 4,319,966 | 3,384,056 | |
Change in Unrealized Appreciation (Depreciation) | (7,489,614) | 9,675,338 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (2,955,277) | 13,411,705 | |
Distributions | |||
ETF Shares | (207,754) | (306,828) | |
Admiral Shares | (29,736) | (42,093) | |
Total Distributions | (237,490) | (348,921) | |
Capital Share Transactions | |||
ETF Shares | 184,029 | 1,067,107 | |
Admiral Shares | 75,058 | 549,053 | |
Net Increase (Decrease) from Capital Share Transactions | 259,087 | 1,616,160 | |
Total Increase (Decrease) | (2,933,680) | 14,678,944 | |
Net Assets | |||
Beginning of Period | 58,539,102 | 43,860,158 | |
End of Period | 55,605,422 | 58,539,102 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $426.48 | $328.54 | $213.66 | $202.82 | $151.19 | $117.82 |
Investment Operations | ||||||
Net Investment Income1 | 1.537 | 2.634 | 2.926 | 2.572 | 1.921 | 1.646 |
Net Realized and Unrealized Gain (Loss) on Investments | (22.399) | 97.919 | 114.955 | 10.792 | 51.430 | 33.329 |
Total from Investment Operations | (20.862) | 100.553 | 117.881 | 13.364 | 53.351 | 34.975 |
Distributions | ||||||
Dividends from Net Investment Income | (1.708) | (2.613) | (3.001) | (2.524) | (1.721) | (1.605) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.708) | (2.613) | (3.001) | (2.524) | (1.721) | (1.605) |
Net Asset Value, End of Period | $403.91 | $426.48 | $328.54 | $213.66 | $202.82 | $151.19 |
Total Return | -4.91% | 30.80% | 55.72% | 6.70% | 35.52% | 29.93% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $48,638 | $51,238 | $38,711 | $20,738 | $22,595 | $14,638 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 0.72% | 0.73% | 1.17% | 1.32% | 1.10% | 1.24% |
Portfolio Turnover Rate2 | 2% | 4% | 5% | 5% | 7% | 6% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $218.38 | $168.23 | $109.40 | $103.86 | $77.42 | $60.33 |
Investment Operations | ||||||
Net Investment Income1 | .788 | 1.353 | 1.504 | 1.326 | 1.001 | .850 |
Net Realized and Unrealized Gain (Loss) on Investments | (11.473) | 50.136 | 58.864 | 5.509 | 26.324 | 17.062 |
Total from Investment Operations | (10.685) | 51.489 | 60.368 | 6.835 | 27.325 | 17.912 |
Distributions | ||||||
Dividends from Net Investment Income | (.875) | (1.339) | (1.538) | (1.295) | (.885) | (.822) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.875) | (1.339) | (1.538) | (1.295) | (.885) | (.822) |
Net Asset Value, End of Period | $206.82 | $218.38 | $168.23 | $109.40 | $103.86 | $77.42 |
Total Return2 | -4.92% | 30.81% | 55.78% | 6.70% | 35.54% | 29.94% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $6,967 | $7,301 | $5,149 | $2,470 | $2,033 | $933 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 0.72% | 0.73% | 1.17% | 1.32% | 1.10% | 1.24% |
Portfolio Turnover Rate3 | 2% | 4% | 5% | 5% | 7% | 6% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 55,511,576 | — | — | 55,511,576 |
Temporary Cash Investments | 85,073 | — | — | 85,073 |
Total | 55,596,649 | — | — | 55,596,649 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 190 | — | 190 |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 34,860,346 |
Gross Unrealized Appreciation | 21,793,975 |
Gross Unrealized Depreciation | (1,057,672) |
Net Unrealized Appreciation (Depreciation) | 20,736,303 |
E. | During the six months ended February 28, 2022, the fund purchased $8,060,232,000 of investment securities and sold $7,756,062,000 of investment securities, other than temporary cash investments. Purchases and sales include $6,591,725,000 and $6,645,422,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 6,838,486 | 16,177 | 6,291,821 | 16,864 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (6,654,457) | (15,900) | (5,224,714) | (14,550) | |
Net Increase (Decrease)—ETF Shares | 184,029 | 277 | 1,067,107 | 2,314 | |
Admiral Shares | |||||
Issued | 1,076,866 | 4,867 | 2,226,601 | 12,124 | |
Issued in Lieu of Cash Distributions | 27,065 | 123 | 38,227 | 218 | |
Redeemed | (1,028,873) | (4,738) | (1,715,775) | (9,519) | |
Net Increase (Decrease)—Admiral Shares | 75,058 | 252 | 549,053 | 2,823 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus |
Chemicals | 60.3% |
Construction Materials | 4.6 |
Containers & Packaging | 13.5 |
Metals & Mining | 20.7 |
Paper & Forest Products | 0.9 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Chemicals (60.2%) | |||
Linde plc | 2,038,592 | 597,797 | |
Sherwin-Williams Co. | 990,702 | 260,683 | |
Air Products and Chemicals Inc. | 880,824 | 208,139 | |
Ecolab Inc. | 1,025,828 | 180,812 | |
Dow Inc. | 2,941,743 | 173,445 | |
DuPont de Nemours Inc. | 2,060,753 | 159,441 | |
Corteva Inc. | 2,899,181 | 150,844 | |
International Flavors & Fragrances Inc. | 1,012,492 | 134,661 | |
PPG Industries Inc. | 944,257 | 126,011 | |
LyondellBasell Industries NV Class A | 1,058,889 | 102,956 | |
Albemarle Corp. | 465,304 | 91,148 | |
Mosaic Co. | 1,473,387 | 77,250 | |
CF Industries Holdings Inc. | 853,107 | 69,264 | |
Eastman Chemical Co. | 534,779 | 63,355 | |
Celanese Corp. Class A | 433,058 | 60,316 | |
FMC Corp. | 504,185 | 59,116 | |
RPM International Inc. | 516,094 | 43,646 | |
Huntsman Corp. | 823,598 | 33,306 | |
Olin Corp. | 570,888 | 29,406 | |
Valvoline Inc. | 716,287 | 23,158 | |
Scotts Miracle-Gro Co. | 164,724 | 23,071 | |
* | Axalta Coating Systems Ltd. | 816,625 | 22,082 |
Element Solutions Inc. | 885,023 | 21,754 | |
Ashland Global Holdings Inc. | 214,550 | 19,799 | |
Avient Corp. | 363,491 | 19,043 | |
Chemours Co. | 647,473 | 17,870 | |
Balchem Corp. | 128,706 | 17,805 | |
Westlake Corp. | 152,485 | 16,821 | |
Cabot Corp. | 225,490 | 16,497 | |
* | Livent Corp. | 642,686 | 15,135 |
HB Fuller Co. | 209,101 | 14,296 | |
Sensient Technologies Corp. | 167,148 | 13,728 | |
NewMarket Corp. | 33,816 | 10,745 | |
* | Ingevity Corp. | 156,072 | 10,649 |
Quaker Chemical Corp. | 53,311 | 9,895 | |
Innospec Inc. | 98,145 | 9,373 | |
Tronox Holdings plc Class A | 458,415 | 9,306 | |
Minerals Technologies Inc. | 132,114 | 9,247 | |
Stepan Co. | 84,867 | 8,794 | |
Trinseo plc | 123,519 | 6,418 | |
* | Ferro Corp. | 294,995 | 6,410 |
* | Kraton Corp. | 127,855 | 5,901 |
* | Ginkgo Bioworks Holdings Inc. | 1,303,013 | 5,864 |
* | GCP Applied Technologies Inc. | 176,344 | 5,569 |
AdvanSix Inc. | 112,416 | 4,503 | |
Orion Engineered Carbons SA | 239,749 | 3,726 | |
Hawkins Inc. | 75,058 | 3,397 |
Shares | Market Value• ($000) | ||
* | Aspen Aerogels Inc. | 105,202 | 3,114 |
* | Amyris Inc. | 673,183 | 3,070 |
Chase Corp. | 30,254 | 2,778 | |
* | Koppers Holdings Inc. | 85,115 | 2,437 |
* | Origin Materials Inc. | 425,499 | 2,208 |
* | PureCycle Technologies Inc. | 297,797 | 2,073 |
Ecovyst Inc. | 161,881 | 1,769 | |
Kronos Worldwide Inc. | 92,475 | 1,362 | |
*,1 | Danimer Scientific Inc. | 319,779 | 1,273 |
* | Zymergen Inc. | 60,356 | 231 |
2,992,767 | |||
Construction Materials (4.6%) | |||
Vulcan Materials Co. | 527,905 | 95,788 | |
Martin Marietta Materials Inc. | 248,158 | 94,151 | |
Eagle Materials Inc. | 153,484 | 21,001 | |
* | Summit Materials Inc. Class A | 471,039 | 14,706 |
* | Forterra Inc. | 120,486 | 2,839 |
228,485 | |||
Containers & Packaging (13.5%) | |||
Ball Corp. | 1,288,244 | 115,607 | |
Amcor plc | 6,097,620 | 70,915 | |
International Paper Co. | 1,463,150 | 63,691 | |
Crown Holdings Inc. | 508,592 | 62,389 | |
Avery Dennison Corp. | 329,360 | 58,033 | |
Packaging Corp. of America | 377,837 | 55,614 | |
Westrock Co. | 1,054,063 | 47,717 | |
Sealed Air Corp. | 589,262 | 39,557 | |
* | Berry Global Group Inc. | 539,679 | 32,732 |
AptarGroup Inc. | 261,834 | 31,912 | |
Graphic Packaging Holding Co. | 1,220,403 | 25,116 | |
Sonoco Products Co. | 390,800 | 22,948 | |
Silgan Holdings Inc. | 351,507 | 14,721 | |
* | O-I Glass Inc. | 623,386 | 7,967 |
Greif Inc. Class A | 99,936 | 5,745 | |
TriMas Corp. | 170,569 | 5,545 | |
* | Ranpak Holdings Corp. Class A | 156,774 | 3,794 |
Myers Industries Inc. | 123,253 | 2,049 | |
Pactiv Evergreen Inc. | 173,987 | 1,674 | |
667,726 | |||
Metals & Mining (20.7%) | |||
Freeport-McMoRan Inc. | 5,840,665 | 274,219 | |
Newmont Corp. | 3,171,535 | 209,956 | |
Nucor Corp. | 1,136,676 | 149,609 | |
Alcoa Corp. | 744,193 | 56,067 | |
Steel Dynamics Inc. | 789,221 | 55,703 | |
Reliance Steel & Aluminum Co. | 249,217 | 47,568 | |
* | Cleveland-Cliffs Inc. | 1,890,039 | 42,261 |
Royal Gold Inc. | 261,240 | 31,678 | |
US Steel Corp. | 863,530 | 23,497 | |
Commercial Metals Co. | 483,081 | 18,623 | |
* | Allegheny Technologies Inc. | 506,278 | 13,032 |
Shares | Market Value• ($000) | ||
* | Arconic Corp. | 401,878 | 12,338 |
Hecla Mining Co. | 2,138,139 | 12,316 | |
*,1 | MP Materials Corp. | 246,989 | 11,268 |
Compass Minerals International Inc. | 134,968 | 7,912 | |
Worthington Industries Inc. | 130,416 | 7,436 | |
Carpenter Technology Corp. | 191,989 | 7,370 | |
Materion Corp. | 81,384 | 6,800 | |
Warrior Met Coal Inc. | 203,833 | 6,421 | |
Kaiser Aluminum Corp. | 63,301 | 6,108 | |
* | Century Aluminum Co. | 215,025 | 5,079 |
Schnitzer Steel Industries Inc. Class A | 103,675 | 5,044 | |
* | Coeur Mining Inc. | 1,025,056 | 4,408 |
* | Piedmont Lithium Inc. ADR | 63,317 | 3,327 |
* | TimkenSteel Corp. | 147,209 | 2,654 |
SunCoke Energy Inc. | 333,199 | 2,642 | |
Ryerson Holding Corp. | 69,612 | 1,818 | |
* | McEwen Mining Inc. | 1,546,071 | 1,225 |
* | Gatos Silver Inc. | 162,631 | 548 |
Ramaco Resources Inc. | 34,784 | 511 | |
1,027,438 | |||
Paper & Forest Products (0.9%) | |||
Louisiana-Pacific Corp. | 349,597 | 25,153 | |
* | Sylvamo Corp. | 140,715 | 4,911 |
Schweitzer-Mauduit International Inc. | 125,034 | 3,903 | |
Neenah Inc. | 67,247 | 2,619 | |
Verso Corp. Class A | 92,598 | 2,455 | |
Glatfelter Corp. | 176,393 | 2,424 | |
Mercer International Inc. | 168,808 | 2,257 | |
* | Clearwater Paper Corp. | 67,070 | 1,934 |
45,656 | |||
Total Common Stocks (Cost $4,330,853) | 4,962,072 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $14,089) | 140,912 | 14,090 |
Total Investments (100.2%) (Cost $4,344,942) | 4,976,162 | ||
Other Assets and Liabilities—Net (-0.2%) | (7,966) | ||
Net Assets (100.0%) | 4,968,196 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $10,345,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $11,122,000 was received for securities on loan, of which $11,121,000 is held in Vanguard Market Liquidity Fund and $1,000 is held in cash. |
ADR—American Depositary Receipt. |
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) |
US Steel Corp. | 8/31/22 | BANA | 5,769 | (0.070) | 10 | — |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $4,330,853) | 4,962,072 |
Affiliated Issuers (Cost $14,089) | 14,090 |
Total Investments in Securities | 4,976,162 |
Investment in Vanguard | 167 |
Cash | 896 |
Receivables for Investment Securities Sold | 21,439 |
Receivables for Accrued Income | 7,792 |
Receivables for Capital Shares Issued | 1,056 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 10 |
Total Assets | 5,007,522 |
Liabilities | |
Payables for Investment Securities Purchased | 27,392 |
Collateral for Securities on Loan | 11,122 |
Payables for Capital Shares Redeemed | 636 |
Payables to Vanguard | 176 |
Total Liabilities | 39,326 |
Net Assets | 4,968,196 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 4,348,072 |
Total Distributable Earnings (Loss) | 620,124 |
Net Assets | 4,968,196 |
ETF Shares—Net Assets | |
Applicable to 21,092,832 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,881,994 |
Net Asset Value Per Share—ETF Shares | $184.04 |
Admiral Shares—Net Assets | |
Applicable to 11,583,390 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,086,202 |
Net Asset Value Per Share—Admiral Shares | $93.77 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 40,516 |
Interest2 | 2 |
Securities Lending—Net | 11 |
Total Income | 40,529 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 256 |
Management and Administrative— ETF Shares | 1,514 |
Management and Administrative— Admiral Shares | 487 |
Marketing and Distribution— ETF Shares | 71 |
Marketing and Distribution— Admiral Shares | 34 |
Custodian Fees | 9 |
Shareholders’ Reports—ETF Shares | 98 |
Shareholders’ Reports—Admiral Shares | 11 |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 8 |
Total Expenses | 2,489 |
Net Investment Income | 38,040 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 95,175 |
Swap Contracts | 106 |
Realized Net Gain (Loss) | 95,281 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (180,157) |
Swap Contracts | 10 |
Change in Unrealized Appreciation (Depreciation) | (180,147) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (46,826) |
1 | Dividends are net of foreign withholding taxes of $7,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $2,000, ($3,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $100,405,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 38,040 | 60,940 | |
Realized Net Gain (Loss) | 95,281 | 107,991 | |
Change in Unrealized Appreciation (Depreciation) | (180,147) | 931,612 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (46,826) | 1,100,543 | |
Distributions | |||
ETF Shares | (34,400) | (42,151) | |
Admiral Shares | (9,378) | (12,760) | |
Total Distributions | (43,778) | (54,911) | |
Capital Share Transactions | |||
ETF Shares | 30,293 | 1,450,694 | |
Admiral Shares | 26,225 | 247,410 | |
Net Increase (Decrease) from Capital Share Transactions | 56,518 | 1,698,104 | |
Total Increase (Decrease) | (34,086) | 2,743,736 | |
Net Assets | |||
Beginning of Period | 5,002,282 | 2,258,546 | |
End of Period | 4,968,196 | 5,002,282 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $187.02 | $134.84 | $122.80 | $134.33 | $124.29 | $108.16 |
Investment Operations | ||||||
Net Investment Income1 | 1.413 | 2.801 | 2.522 | 2.501 | 2.285 | 2.175 |
Net Realized and Unrealized Gain (Loss) on Investments | (2.770) | 52.014 | 12.053 | (11.541) | 9.961 | 16.072 |
Total from Investment Operations | (1.357) | 54.815 | 14.575 | (9.040) | 12.246 | 18.247 |
Distributions | ||||||
Dividends from Net Investment Income | (1.623) | (2.635) | (2.535) | (2.490) | (2.206) | (2.117) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.623) | (2.635) | (2.535) | (2.490) | (2.206) | (2.117) |
Net Asset Value, End of Period | $184.04 | $187.02 | $134.84 | $122.80 | $134.33 | $124.29 |
Total Return | -0.72% | 41.00% | 12.12% | -6.73% | 9.91% | 17.06% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $3,882 | $3,924 | $1,676 | $1,921 | $2,749 | $1,913 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.52% | 1.66% | 2.05% | 2.04% | 1.71% | 1.87% |
Portfolio Turnover Rate2 | 2% | 5% | 4% | 4% | 5% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $95.29 | $68.70 | $62.57 | $68.45 | $63.33 | $55.11 |
Investment Operations | ||||||
Net Investment Income1 | .721 | 1.424 | 1.294 | 1.282 | 1.159 | 1.104 |
Net Realized and Unrealized Gain (Loss) on Investments | (1.414) | 26.507 | 6.130 | (5.892) | 5.084 | 8.195 |
Total from Investment Operations | (.693) | 27.931 | 7.424 | (4.610) | 6.243 | 9.299 |
Distributions | ||||||
Dividends from Net Investment Income | (.827) | (1.341) | (1.294) | (1.270) | (1.123) | (1.079) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.827) | (1.341) | (1.294) | (1.270) | (1.123) | (1.079) |
Net Asset Value, End of Period | $93.77 | $95.29 | $68.70 | $62.57 | $68.45 | $63.33 |
Total Return2 | -0.72% | 41.04% | 12.14% | -6.74% | 9.91% | 17.06% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $1,086 | $1,078 | $583 | $482 | $452 | $372 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 1.52% | 1.67% | 2.08% | 2.04% | 1.71% | 1.87% |
Portfolio Turnover Rate3 | 2% | 5% | 4% | 4% | 5% | 5% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 4,962,072 | — | — | 4,962,072 |
Temporary Cash Investments | 14,090 | — | — | 14,090 |
Total | 4,976,162 | — | — | 4,976,162 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 10 | — | 10 |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 4,358,174 |
Gross Unrealized Appreciation | 790,610 |
Gross Unrealized Depreciation | (172,622) |
Net Unrealized Appreciation (Depreciation) | 617,988 |
E. | During the six months ended February 28, 2022, the fund purchased $401,283,000 of investment securities and sold $350,759,000 of investment securities, other than temporary cash investments. Purchases and sales include $256,270,000 and $272,534,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 304,181 | 1,609 | 1,856,866 | 11,008 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (273,888) | (1,500) | (406,172) | (2,450) | |
Net Increase (Decrease)—ETF Shares | 30,293 | 109 | 1,450,694 | 8,558 | |
Admiral Shares | |||||
Issued | 157,500 | 1,652 | 454,856 | 5,232 | |
Issued in Lieu of Cash Distributions | 8,444 | 91 | 11,777 | 146 | |
Redeemed | (139,719) | (1,472) | (219,223) | (2,551) | |
Net Increase (Decrease)—Admiral Shares | 26,225 | 271 | 247,410 | 2,827 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Electric Utilities | 59.6% |
Gas Utilities | 4.7 |
Independent Power and Renewable Electricity Producers | 3.5 |
Multi-Utilities | 27.7 |
Water Utilities | 4.5 |
Shares | Market Value• ($000) | ||
Common Stocks (99.7%) | |||
Electric Utilities (59.4%) | |||
NextEra Energy Inc. | 12,704,828 | 994,407 | |
Duke Energy Corp. | 4,981,469 | 500,189 | |
Southern Co. | 6,862,195 | 444,464 | |
American Electric Power Co. Inc. | 3,261,100 | 295,619 | |
Exelon Corp. | 6,334,572 | 269,599 | |
Xcel Energy Inc. | 3,487,915 | 234,841 | |
Eversource Energy | 2,226,133 | 182,098 | |
Edison International | 2,459,886 | 156,006 | |
FirstEnergy Corp. | 3,525,102 | 147,526 | |
Entergy Corp. | 1,301,349 | 136,915 | |
PPL Corp. | 4,860,783 | 127,207 | |
* | PG&E Corp. | 9,641,483 | 109,624 |
Constellation Energy Corp. | 2,110,484 | 97,040 | |
Alliant Energy Corp. | 1,621,119 | 94,673 | |
Evergy Inc. | 1,484,745 | 92,663 | |
NRG Energy Inc. | 1,585,345 | 59,989 | |
Pinnacle West Capital Corp. | 730,479 | 51,740 | |
OGE Energy Corp. | 1,296,090 | 48,668 | |
IDACORP Inc. | 327,092 | 34,001 | |
Portland General Electric Co. | 578,895 | 29,391 | |
Hawaiian Electric Industries Inc. | 707,782 | 29,005 | |
PNM Resources Inc. | 528,170 | 23,857 | |
Avangrid Inc. | 501,026 | 22,481 | |
ALLETE Inc. | 340,526 | 21,433 | |
MGE Energy Inc. | 234,128 | 16,862 | |
Otter Tail Corp. | 268,786 | 16,627 | |
4,236,925 | |||
Gas Utilities (4.7%) | |||
Atmos Energy Corp. | 857,381 | 94,149 | |
UGI Corp. | 1,354,605 | 52,071 | |
National Fuel Gas Co. | 560,878 | 34,909 | |
ONE Gas Inc. | 346,970 | 28,830 |
Shares | Market Value• ($000) | ||
Southwest Gas Holdings Inc. | 391,014 | 27,738 | |
New Jersey Resources Corp. | 621,306 | 27,101 | |
South Jersey Industries Inc. | 728,255 | 24,710 | |
Spire Inc. | 334,821 | 22,470 | |
Chesapeake Utilities Corp. | 114,093 | 15,169 | |
Northwest Natural Holding Co. | 198,886 | 10,344 | |
337,491 | |||
Independent Power and Renewable Electricity Producers (3.5%) | |||
AES Corp. | 4,316,788 | 91,645 | |
Vistra Corp. | 2,812,384 | 64,179 | |
1 | NextEra Energy Partners LP | 496,061 | 38,698 |
Ormat Technologies Inc. (XNYS) | 290,212 | 20,707 | |
Clearway Energy Inc. Class C | 483,640 | 16,153 | |
* | Sunnova Energy International Inc. | 544,793 | 10,978 |
Clearway Energy Inc. Class A | 233,603 | 7,146 | |
249,506 | |||
Multi-Utilities (27.6%) | |||
Dominion Energy Inc. | 5,244,135 | 417,066 | |
Sempra Energy (XNYS) | 1,987,706 | 286,667 | |
Public Service Enterprise Group Inc. | 3,274,136 | 212,262 | |
Consolidated Edison Inc. | 2,290,474 | 196,454 | |
WEC Energy Group Inc. | 2,042,398 | 185,613 | |
DTE Energy Co. | 1,254,341 | 152,515 | |
Ameren Corp. | 1,567,968 | 134,767 | |
CMS Energy Corp. | 1,875,778 | 120,069 | |
CenterPoint Energy Inc. | 4,071,749 | 111,362 | |
NiSource Inc. | 2,542,703 | 73,561 | |
Black Hills Corp. | 413,221 | 28,921 |
Shares | Market Value• ($000) | ||
NorthWestern Corp. | 356,070 | 21,535 | |
Avista Corp. | 458,458 | 20,461 | |
Unitil Corp. | 103,269 | 5,214 | |
1,966,467 | |||
Water Utilities (4.5%) | |||
American Water Works Co. Inc. | 1,175,449 | 177,598 | |
Essential Utilities Inc. | 1,554,675 | 73,241 | |
American States Water Co. | 239,105 | 20,123 | |
California Water Service Group | 340,801 | 19,402 | |
SJW Group | 183,420 | 11,963 | |
Middlesex Water Co. | 113,366 | 11,335 | |
York Water Co. | 84,623 | 3,797 | |
317,459 | |||
Total Common Stocks (Cost $6,407,988) | 7,107,848 | ||
Temporary Cash Investments (0.0%) | |||
Money Market Fund (0.0%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $883) | 8,835 | 884 |
Total Investments (99.7%) (Cost $6,408,871) | 7,108,732 | ||
Other Assets and Liabilities—Net (0.3%) | 20,218 | ||
Net Assets (100.0%) | 7,128,950 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $882,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $881,000 was received for securities on loan. |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Ameren Corp. | 1/31/23 | GSI | 8,438 | (0.070) | 157 | — |
Sempra Energy | 8/31/22 | BANA | 11,538 | (0.070) | — | (1) |
157 | (1) |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $6,407,988) | 7,107,848 |
Affiliated Issuers (Cost $883) | 884 |
Total Investments in Securities | 7,108,732 |
Investment in Vanguard | 243 |
Receivables for Investment Securities Sold | 38,298 |
Receivables for Accrued Income | 30,807 |
Receivables for Capital Shares Issued | 2,673 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 157 |
Total Assets | 7,180,910 |
Liabilities | |
Due to Custodian | 2,668 |
Payables for Investment Securities Purchased | 47,302 |
Collateral for Securities on Loan | 881 |
Payables for Capital Shares Redeemed | 858 |
Payables to Vanguard | 250 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 1 |
Total Liabilities | 51,960 |
Net Assets | 7,128,950 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 6,465,970 |
Total Distributable Earnings (Loss) | 662,980 |
Net Assets | 7,128,950 |
ETF Shares—Net Assets | |
Applicable to 37,076,674 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 5,498,675 |
Net Asset Value Per Share—ETF Shares | $148.31 |
Admiral Shares—Net Assets | |
Applicable to 21,910,520 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,630,275 |
Net Asset Value Per Share—Admiral Shares | $74.41 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 104,428 |
Interest1 | 6 |
Securities Lending—Net | — |
Total Income | 104,434 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 361 |
Management and Administrative— ETF Shares | 2,140 |
Management and Administrative— Admiral Shares | 639 |
Marketing and Distribution— ETF Shares | 81 |
Marketing and Distribution— Admiral Shares | 51 |
Custodian Fees | 27 |
Shareholders’ Reports—ETF Shares | 67 |
Shareholders’ Reports—Admiral Shares | 14 |
Trustees’ Fees and Expenses | 2 |
Other Expenses | 8 |
Total Expenses | 3,390 |
Net Investment Income | 101,044 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 110,865 |
Futures Contracts | (266) |
Swap Contracts | 705 |
Realized Net Gain (Loss) | 111,304 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (160,143) |
Swap Contracts | 345 |
Change in Unrealized Appreciation (Depreciation) | (159,798) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 52,550 |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $6,000, ($6,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $114,120,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 101,044 | 183,942 | |
Realized Net Gain (Loss) | 111,304 | 151,206 | |
Change in Unrealized Appreciation (Depreciation) | (159,798) | 723,073 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 52,550 | 1,058,221 | |
Distributions | |||
ETF Shares | (79,431) | (135,410) | |
Admiral Shares | (24,246) | (42,248) | |
Total Distributions | (103,677) | (177,658) | |
Capital Share Transactions | |||
ETF Shares | 411,088 | 438,772 | |
Admiral Shares | 61,503 | 92,887 | |
Net Increase (Decrease) from Capital Share Transactions | 472,591 | 531,659 | |
Total Increase (Decrease) | 421,464 | 1,412,222 | |
Net Assets | |||
Beginning of Period | 6,707,486 | 5,295,264 | |
End of Period | 7,128,950 | 6,707,486 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $149.52 | $129.35 | $139.09 | $119.32 | $120.75 | $107.35 |
Investment Operations | ||||||
Net Investment Income1 | 2.188 | 4.310 | 4.306 | 4.087 | 3.757 | 3.697 |
Net Realized and Unrealized Gain (Loss) on Investments | (1.147) | 20.048 | (9.802) | 19.562 | (1.434) | 13.374 |
Total from Investment Operations | 1.041 | 24.358 | (5.496) | 23.649 | 2.323 | 17.071 |
Distributions | ||||||
Dividends from Net Investment Income | (2.251) | (4.188) | (4.244) | (3.879) | (3.753) | (3.671) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.251) | (4.188) | (4.244) | (3.879) | (3.753) | (3.671) |
Net Asset Value, End of Period | $148.31 | $149.52 | $129.35 | $139.09 | $119.32 | $120.75 |
Total Return | 0.72% | 19.19% | -4.08% | 20.17% | 2.05% | 16.27% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $5,499 | $5,126 | $4,014 | $4,107 | $2,809 | $2,689 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 2.97% | 3.09% | 3.18% | 3.22% | 3.25% | 3.33% |
Portfolio Turnover Rate2 | 1% | 6% | 5% | 4% | 4% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $75.01 | $64.89 | $69.78 | $59.86 | $60.58 | $53.86 |
Investment Operations | ||||||
Net Investment Income1 | 1.092 | 2.166 | 2.163 | 2.038 | 1.883 | 1.863 |
Net Realized and Unrealized Gain (Loss) on Investments | (.563) | 10.055 | (4.924) | 9.828 | (.719) | 6.698 |
Total from Investment Operations | .529 | 12.221 | (2.761) | 11.866 | 1.164 | 8.561 |
Distributions | ||||||
Dividends from Net Investment Income | (1.129) | (2.101) | (2.129) | (1.946) | (1.884) | (1.841) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.129) | (2.101) | (2.129) | (1.946) | (1.884) | (1.841) |
Net Asset Value, End of Period | $74.41 | $75.01 | $64.89 | $69.78 | $59.86 | $60.58 |
Total Return2 | 0.74% | 19.22% | -4.05% | 20.19% | 2.04% | 16.24% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $1,630 | $1,582 | $1,281 | $1,266 | $868 | $845 |
Ratio of Total Expenses to Average Net Assets | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Ratio of Net Investment Income to Average Net Assets | 2.96% | 3.10% | 3.18% | 3.22% | 3.25% | 3.33% |
Portfolio Turnover Rate3 | 1% | 6% | 5% | 4% | 4% | 4% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 7,107,848 | — | — | 7,107,848 |
Temporary Cash Investments | 884 | — | — | 884 |
Total | 7,108,732 | — | — | 7,108,732 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 157 | — | 157 |
Liabilities | ||||
Swap Contracts | — | 1 | — | 1 |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 6,419,756 |
Gross Unrealized Appreciation | 804,889 |
Gross Unrealized Depreciation | (115,913) |
Net Unrealized Appreciation (Depreciation) | 688,976 |
E. | During the six months ended February 28, 2022, the fund purchased $939,644,000 of investment securities and sold $468,329,000 of investment securities, other than temporary cash investments. Purchases and sales include $736,847,000 and $420,160,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 831,569 | 5,646 | 1,157,689 | 8,423 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (420,481) | (2,850) | (718,917) | (5,175) | |
Net Increase (Decrease)—ETF Shares | 411,088 | 2,796 | 438,772 | 3,248 | |
Admiral Shares | |||||
Issued | 184,379 | 2,476 | 472,916 | 6,793 | |
Issued in Lieu of Cash Distributions | 18,109 | 249 | 33,142 | 489 | |
Redeemed | (140,985) | (1,900) | (413,171) | (5,940) | |
Net Increase (Decrease)—Admiral Shares | 61,503 | 825 | 92,887 | 1,342 |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
All rights reserved.
U.S. Patent Nos. 6,879,964.
Vanguard Marketing Corporation, Distributor.
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Extended Duration Treasury Index Fund | |||
ETF Shares | $1,000.00 | $930.10 | $0.29 |
Institutional Shares | 1,000.00 | 929.90 | 0.29 |
Institutional Plus Shares | 1,000.00 | 930.20 | 0.19 |
Based on Hypothetical 5% Yearly Return | |||
Extended Duration Treasury Index Fund | |||
ETF Shares | $1,000.00 | $1,024.50 | $0.30 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Institutional Plus Shares | 1,000.00 | 1,024.60 | 0.20 |
20 - 25 Years | 51.6% |
25 - 30 Years | 48.4 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (100.0%) | ||||||
U.S. Government Securities (100.0%) | ||||||
United States Treasury Strip Coupon | 0.000% | 5/15/42 | 54,425 | 33,170 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/42 | 75,222 | 45,533 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/42 | 63,976 | 38,471 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/43 | 58,617 | 35,065 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/43 | 81,844 | 48,544 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/43 | 66,009 | 38,945 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/43 | 62,457 | 36,615 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/44 | 66,562 | 38,674 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/44 | 51,067 | 29,551 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/44 | 51,773 | 29,830 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/44 | 52,600 | 30,118 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/45 | 51,467 | 29,252 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/45 | 61,609 | 34,852 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/45 | 59,011 | 33,226 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/45 | 56,680 | 31,728 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/46 | 51,373 | 28,616 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/46 | 51,226 | 28,390 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/46 | 59,873 | 32,958 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/46 | 61,175 | 33,570 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/47 | 50,892 | 27,772 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/47 | 51,432 | 28,018 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/47 | 60,862 | 33,284 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/47 | 56,678 | 30,876 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/48 | 60,067 | 32,591 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/48 | 50,820 | 27,522 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/48 | 68,239 | 36,833 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/48 | 59,494 | 31,950 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/49 | 50,235 | 26,994 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/49 | 54,289 | 29,091 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/49 | 59,916 | 31,966 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/49 | 55,012 | 29,238 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/50 | 59,084 | 31,347 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/50 | 64,405 | 34,009 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/50 | 60,620 | 31,887 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/50 | 56,354 | 29,581 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/51 | 64,454 | 33,793 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/51 | 28,386 | 14,903 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/51 | 8,788 | 4,592 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/51 | 17,790 | 9,274 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Strip Coupon | 0.000% | 2/15/52 | 862 | 451 | ||
United States Treasury Strip Principal | 0.000% | 5/15/42 | 61,125 | 38,361 | ||
United States Treasury Strip Principal | 0.000% | 8/15/42 | 49,785 | 30,910 | ||
United States Treasury Strip Principal | 0.000% | 11/15/42 | 51,002 | 31,422 | ||
United States Treasury Strip Principal | 0.000% | 2/15/43 | 49,172 | 30,056 | ||
United States Treasury Strip Principal | 0.000% | 5/15/43 | 41,149 | 24,966 | ||
United States Treasury Strip Principal | 0.000% | 8/15/43 | 47,078 | 28,405 | ||
United States Treasury Strip Principal | 0.000% | 11/15/43 | 49,528 | 29,725 | ||
United States Treasury Strip Principal | 0.000% | 2/15/44 | 40,502 | 24,130 | ||
United States Treasury Strip Principal | 0.000% | 5/15/44 | 46,690 | 27,678 | ||
United States Treasury Strip Principal | 0.000% | 8/15/44 | 61,845 | 36,411 | ||
United States Treasury Strip Principal | 0.000% | 11/15/44 | 49,218 | 28,839 | ||
United States Treasury Strip Principal | 0.000% | 2/15/45 | 38,827 | 22,577 | ||
United States Treasury Strip Principal | 0.000% | 5/15/45 | 60,483 | 35,009 | ||
United States Treasury Strip Principal | 0.000% | 8/15/45 | 59,833 | 34,488 | ||
United States Treasury Strip Principal | 0.000% | 11/15/45 | 58,645 | 33,675 | ||
United States Treasury Strip Principal | 0.000% | 2/15/46 | 52,283 | 29,818 | ||
United States Treasury Strip Principal | 0.000% | 5/15/46 | 51,384 | 29,152 | ||
United States Treasury Strip Principal | 0.000% | 8/15/46 | 60,839 | 34,369 | ||
United States Treasury Strip Principal | 0.000% | 11/15/46 | 59,732 | 33,627 | ||
United States Treasury Strip Principal | 0.000% | 2/15/47 | 54,213 | 30,419 | ||
United States Treasury Strip Principal | 0.000% | 5/15/47 | 53,140 | 29,750 | ||
United States Treasury Strip Principal | 0.000% | 8/15/47 | 53,371 | 29,929 | ||
United States Treasury Strip Principal | 0.000% | 11/15/47 | 56,569 | 31,568 | ||
United States Treasury Strip Principal | 0.000% | 2/15/48 | 56,977 | 31,880 | ||
United States Treasury Strip Principal | 0.000% | 5/15/48 | 59,886 | 33,447 | ||
United States Treasury Strip Principal | 0.000% | 8/15/48 | 44,847 | 24,859 | ||
United States Treasury Strip Principal | 0.000% | 11/15/48 | 51,577 | 28,694 | ||
United States Treasury Strip Principal | 0.000% | 2/15/49 | 63,489 | 35,142 | ||
United States Treasury Strip Principal | 0.000% | 5/15/49 | 51,592 | 28,388 | ||
United States Treasury Strip Principal | 0.000% | 8/15/49 | 51,222 | 27,988 | ||
United States Treasury Strip Principal | 0.000% | 11/15/49 | 53,386 | 29,158 | ||
United States Treasury Strip Principal | 0.000% | 2/15/50 | 57,457 | 31,126 | ||
United States Treasury Strip Principal | 0.000% | 5/15/50 | 76,299 | 40,915 | ||
United States Treasury Strip Principal | 0.000% | 8/15/50 | 78,194 | 41,736 | ||
United States Treasury Strip Principal | 0.000% | 11/15/50 | 52,350 | 27,844 | ||
United States Treasury Strip Principal | 0.000% | 2/15/51 | 82,769 | 43,939 | ||
United States Treasury Strip Principal | 0.000% | 5/15/51 | 87,959 | 46,928 | ||
United States Treasury Strip Principal | 0.000% | 8/15/51 | 90,188 | 47,588 | ||
United States Treasury Strip Principal | 0.000% | 11/15/51 | 78,942 | 41,537 | ||
United States Treasury Strip Principal | 0.000% | 2/15/52 | 72,199 | 38,017 | ||
Total U.S. Government and Agency Obligations (Cost $2,674,298) | 2,517,550 |
Coupon | Shares | Market Value• ($000) | ||||
Temporary Cash Investments (0.0%) | ||||||
Money Market Fund (0.0%) | ||||||
1 | Vanguard Market Liquidity Fund (Cost $115) | 0.138% | 1,146 | 115 | ||
Total Investments (100.0%) (Cost $2,674,413) | 2,517,665 | |||||
Other Assets and Liabilities—Net (0.0%) | (154) | |||||
Net Assets (100%) | 2,517,511 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $2,674,298) | 2,517,550 |
Affiliated Issuers (Cost $115) | 115 |
Total Investments in Securities | 2,517,665 |
Investment in Vanguard | 88 |
Receivables for Investment Securities Sold | 66,736 |
Receivables for Capital Shares Issued | 19 |
Total Assets | 2,584,508 |
Liabilities | |
Due to Custodian | 121 |
Payables for Investment Securities Purchased | 66,826 |
Payables to Vanguard | 50 |
Total Liabilities | 66,997 |
Net Assets | 2,517,511 |
Statement of Assets and Liabilities (continued) | |
At February 28, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 2,676,276 |
Total Distributable Earnings (Loss) | (158,765) |
Net Assets | 2,517,511 |
ETF Shares—Net Assets | |
Applicable to 10,425,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,350,353 |
Net Asset Value Per Share—ETF Shares | $129.53 |
Institutional Shares—Net Assets | |
Applicable to 18,347,855 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 717,945 |
Net Asset Value Per Share—Institutional Shares | $39.13 |
Institutional Plus Shares—Net Assets | |
Applicable to 4,573,056 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 449,213 |
Net Asset Value Per Share—Institutional Plus Shares | $98.23 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 25,648 |
Total Income | 25,648 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 24 |
Management and Administrative—ETF Shares | 318 |
Management and Administrative—Institutional Shares | 194 |
Management and Administrative—Institutional Plus Shares | 85 |
Marketing and Distribution—ETF Shares | 25 |
Marketing and Distribution—Institutional Shares | 17 |
Marketing and Distribution—Institutional Plus Shares | 4 |
Custodian Fees | 2 |
Shareholders’ Reports—ETF Shares | 21 |
Shareholders’ Reports—Institutional Shares | 1 |
Shareholders’ Reports—Institutional Plus Shares | — |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 8 |
Total Expenses | 700 |
Net Investment Income | 24,948 |
Realized Net Gain (Loss) on Investment Securities Sold1,2 | 17,149 |
Change in Unrealized Appreciation (Depreciation) of Investment Securities1 | (225,217) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (183,120) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were less than $1,000. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $31,731,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 24,948 | 50,680 | |
Realized Net Gain (Loss) | 17,149 | 193,938 | |
Change in Unrealized Appreciation (Depreciation) | (225,217) | (490,660) | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (183,120) | (246,042) | |
Distributions | |||
ETF Shares | (12,639) | (73,445) | |
Institutional Shares | (7,496) | (44,948) | |
Institutional Plus Shares | (4,928) | (26,453) | |
Total Distributions | (25,063) | (144,846) | |
Capital Share Transactions | |||
ETF Shares | 182,495 | (318,357) | |
Institutional Shares | (10,829) | 19,832 | |
Institutional Plus Shares | (16,647) | (128,823) | |
Net Increase (Decrease) from Capital Share Transactions | 155,019 | (427,348) | |
Total Increase (Decrease) | (53,164) | (818,236) | |
Net Assets | |||
Beginning of Period | 2,570,675 | 3,388,911 | |
End of Period | 2,517,511 | 2,570,675 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $140.69 | $163.11 | $146.43 | $113.39 | $120.92 | $139.77 |
Investment Operations | ||||||
Net Investment Income1 | 1.351 | 2.795 | 3.146 | 3.347 | 3.353 | 3.383 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (11.122) | (17.061) | 18.113 | 32.972 | (7.272) | (16.377) |
Total from Investment Operations | (9.771) | (14.266) | 21.259 | 36.319 | (3.919) | (12.994) |
Distributions | ||||||
Dividends from Net Investment Income | (1.389) | (2.820) | (3.329) | (3.279) | (3.314) | (3.402) |
Distributions from Realized Capital Gains | — | (5.334) | (1.250) | — | (.297) | (2.454) |
Total Distributions | (1.389) | (8.154) | (4.579) | (3.279) | (3.611) | (5.856) |
Net Asset Value, End of Period | $129.53 | $140.69 | $163.11 | $146.43 | $113.39 | $120.92 |
Total Return | -6.99% | -8.94% | 14.98% | 32.92% | -3.24% | -8.86% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $1,350 | $1,277 | $1,810 | $1,333 | $658 | $623 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.00% | 1.93% | 2.06% | 2.87% | 2.93% | 2.90% |
Portfolio Turnover Rate3 | 7% | 23% | 17% | 20% | 18% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.02, $.07, $.07, $.04, $.07, and $.16. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $42.50 | $49.27 | $44.24 | $34.25 | $36.52 | $42.20 |
Investment Operations | ||||||
Net Investment Income1 | .408 | .842 | .959 | 1.015 | 1.016 | 1.024 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (3.362) | (5.143) | 5.459 | 9.967 | (2.191) | (4.934) |
Total from Investment Operations | (2.954) | (4.301) | 6.418 | 10.982 | (1.175) | (3.910) |
Distributions | ||||||
Dividends from Net Investment Income | (.416) | (.857) | (1.010) | (.992) | (1.005) | (1.030) |
Distributions from Realized Capital Gains | — | (1.612) | (.378) | — | (.090) | (.740) |
Total Distributions | (.416) | (2.469) | (1.388) | (.992) | (1.095) | (1.770) |
Net Asset Value, End of Period | $39.13 | $42.50 | $49.27 | $44.24 | $34.25 | $36.52 |
Total Return3 | -7.01% | -8.95% | 14.98% | 32.94% | -3.23% | -8.86% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $718 | $789 | $889 | $862 | $787 | $682 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.99% | 1.96% | 2.10% | 2.88% | 2.94% | 2.91% |
Portfolio Turnover Rate4 | 7% | 23% | 17% | 20% | 18% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.00, $.02, $.02, $.01, $.02, and $.05. |
3 | Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $106.68 | $123.70 | $111.06 | $85.99 | $91.68 | $105.93 |
Investment Operations | ||||||
Net Investment Income1 | 1.035 | 2.140 | 2.432 | 2.564 | 2.568 | 2.588 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (8.431) | (12.941) | 13.716 | 25.015 | (5.492) | (12.375) |
Total from Investment Operations | (7.396) | (10.801) | 16.148 | 27.579 | (2.924) | (9.787) |
Distributions | ||||||
Dividends from Net Investment Income | (1.054) | (2.173) | (2.560) | (2.509) | (2.541) | (2.603) |
Distributions from Realized Capital Gains | — | (4.046) | (.948) | — | (.225) | (1.860) |
Total Distributions | (1.054) | (6.219) | (3.508) | (2.509) | (2.766) | (4.463) |
Net Asset Value, End of Period | $98.23 | $106.68 | $123.70 | $111.06 | $85.99 | $91.68 |
Total Return3 | -6.98% | -8.95% | 15.02% | 32.95% | -3.20% | -8.84% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $449 | $505 | $689 | $780 | $533 | $367 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 2.01% | 1.96% | 2.12% | 2.90% | 2.96% | 2.93% |
Portfolio Turnover Rate4 | 7% | 23% | 17% | 20% | 18% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.02, $.05, $.05, $.03, $.06, and $.12. |
3 | Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 2,517,550 | — | 2,517,550 |
Temporary Cash Investments | 115 | — | — | 115 |
Total | 115 | 2,517,550 | — | 2,517,665 |
Amount ($000) | |
Tax Cost | 2,675,085 |
Gross Unrealized Appreciation | 69,001 |
Gross Unrealized Depreciation | (226,421) |
Net Unrealized Appreciation (Depreciation) | (157,420) |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued1 | 676,655 | 5,000 | 1,362,442 | 9,725 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (494,160) | (3,650) | (1,680,799) | (11,750) | |
Net Increase (Decrease)—ETF Shares | 182,495 | 1,350 | (318,357) | (2,025) | |
Institutional Shares | |||||
Issued1 | 36,391 | 912 | 267,929 | 6,594 | |
Issued in Lieu of Cash Distributions | 7,481 | 179 | 44,716 | 998 | |
Redeemed | (54,701) | (1,302) | (292,813) | (7,084) | |
Net Increase (Decrease)—Institutional Shares | (10,829) | (211) | 19,832 | 508 | |
Institutional Plus Shares | |||||
Issued1 | — | — | 125,438 | 1,272 | |
Issued in Lieu of Cash Distributions | 4,928 | 47 | 26,453 | 234 | |
Redeemed | (21,575) | (210) | (280,714) | (2,340) | |
Net Increase (Decrease)—Institutional Plus Shares | (16,647) | (163) | (128,823) | (834) |
1 | Includes purchase fees for fiscal 2022 and 2021 of $385,000 and $1,200,000, respectively (fund totals). |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
U.S. Patent No. 6,879,964.
Vanguard Marketing Corporation, Distributor.
Vanguard Mega Cap Index Fund |
Vanguard Mega Cap Growth Index Fund |
Vanguard Mega Cap Value Index Fund |
About Your Fund’s Expenses | 1 |
Mega Cap Index Fund | 3 |
Mega Cap Growth Index Fund | 18 |
Mega Cap Value Index Fund | 31 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Mega Cap Index Fund | |||
ETF Shares | $1,000.00 | $962.60 | $0.34 |
Institutional Shares | 1,000.00 | 962.70 | 0.29 |
Mega Cap Growth Index Fund | |||
ETF Shares | $1,000.00 | $910.40 | $0.33 |
Institutional Shares | 1,000.00 | 910.50 | 0.28 |
Mega Cap Value Index Fund | |||
ETF Shares | $1,000.00 | $1,031.00 | $0.35 |
Institutional Shares | 1,000.00 | 1,031.10 | 0.30 |
Based on Hypothetical 5% Yearly Return | |||
Mega Cap Index Fund | |||
ETF Shares | $1,000.00 | $1,024.45 | $0.35 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Mega Cap Growth Index Fund | |||
ETF Shares | $1,000.00 | $1,024.45 | $0.35 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Mega Cap Value Index Fund | |||
ETF Shares | $1,000.00 | $1,024.45 | $0.35 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Basic Materials | 1.3% |
Consumer Discretionary | 15.5 |
Consumer Staples | 5.6 |
Energy | 3.0 |
Financials | 10.8 |
Health Care | 13.1 |
Industrials | 11.4 |
Real Estate | 1.3 |
Technology | 32.9 |
Telecommunications | 3.0 |
Utilities | 2.1 |
Shares | Market Value• ($000) | ||
Common Stocks (99.6%) | |||
Basic Materials (1.3%) | |||
Linde plc | 69,079 | 20,257 | |
Freeport-McMoRan Inc. | 198,366 | 9,313 | |
Newmont Corp. | 107,481 | 7,115 | |
Air Products and Chemicals Inc. | 29,862 | 7,057 | |
Ecolab Inc. | 34,844 | 6,142 | |
Dow Inc. | 99,836 | 5,886 | |
55,770 | |||
Consumer Discretionary (15.5%) | |||
* | Amazon.com Inc. | 58,113 | 178,480 |
* | Tesla Inc. | 108,421 | 94,373 |
Home Depot Inc. | 140,910 | 44,504 | |
* | Walt Disney Co. | 245,273 | 36,413 |
Costco Wholesale Corp. | 59,613 | 30,954 | |
Walmart Inc. | 188,147 | 25,430 | |
McDonald's Corp. | 100,790 | 24,670 | |
* | Netflix Inc. | 59,746 | 23,571 |
NIKE Inc. Class B | 172,416 | 23,543 | |
Lowe's Cos. Inc. | 90,966 | 20,109 | |
Starbucks Corp. | 158,357 | 14,536 | |
Target Corp. | 64,709 | 12,927 | |
* | Booking Holdings Inc. | 5,591 | 12,145 |
TJX Cos. Inc. | 154,224 | 10,194 | |
Ford Motor Co. | 529,558 | 9,299 | |
Estee Lauder Cos. Inc. Class A | 29,766 | 8,821 | |
Activision Blizzard Inc. | 105,230 | 8,576 | |
* | General Motors Co. | 176,404 | 8,242 |
* | Uber Technologies Inc. | 196,265 | 7,071 |
* | Airbnb Inc. Class A | 44,457 | 6,735 |
* | Marriott International Inc. Class A | 37,306 | 6,347 |
Dollar General Corp. | 31,437 | 6,235 | |
* | O'Reilly Automotive Inc. | 9,113 | 5,916 |
* | Lululemon Athletica Inc. | 15,912 | 5,091 |
Electronic Arts Inc. | 38,152 | 4,963 | |
Yum! Brands Inc. | 39,562 | 4,849 | |
Ross Stores Inc. | 47,930 | 4,380 | |
eBay Inc. | 80,219 | 4,379 | |
* | Hilton Worldwide Holdings Inc. | 18,891 | 2,812 |
* | Chipotle Mexican Grill Inc. Class A | 1,779 | 2,710 |
* | AutoZone Inc. | 1,406 | 2,620 |
* | Roblox Corp. Class A | 39,112 | 2,017 |
* | Carvana Co. Class A | 11,588 | 1,744 |
Shares | Market Value• ($000) | ||
* | Rivian Automotive Inc. Class A | 23,840 | 1,611 |
VF Corp. | 23,936 | 1,389 | |
* | Las Vegas Sands Corp. | 28,388 | 1,217 |
*,1 | Lucid Group Inc. | 27,625 | 801 |
659,674 | |||
Consumer Staples (5.6%) | |||
Procter & Gamble Co. | 326,575 | 50,910 | |
Coca-Cola Co. | 524,575 | 32,649 | |
PepsiCo Inc. | 186,580 | 30,551 | |
Philip Morris International Inc. | 210,188 | 21,244 | |
CVS Health Corp. | 178,095 | 18,459 | |
Altria Group Inc. | 247,875 | 12,713 | |
Mondelez International Inc. Class A | 188,221 | 12,325 | |
Colgate-Palmolive Co. | 113,774 | 8,755 | |
Sysco Corp. | 69,241 | 6,031 | |
Kimberly-Clark Corp. | 45,451 | 5,915 | |
General Mills Inc. | 81,832 | 5,518 | |
Walgreens Boots Alliance Inc. | 99,146 | 4,570 | |
Constellation Brands Inc. Class A | 21,021 | 4,533 | |
* | Monster Beverage Corp. | 50,070 | 4,226 |
Keurig Dr Pepper Inc. | 105,104 | 4,064 | |
Hershey Co. | 19,577 | 3,960 | |
Kraft Heinz Co. | 90,797 | 3,561 | |
Archer-Daniels-Midland Co. | 37,571 | 2,947 | |
McKesson Corp. | 10,259 | 2,821 | |
Brown-Forman Corp. Class B | 38,755 | 2,528 | |
Brown-Forman Corp. Class A | 5,665 | 346 | |
238,626 | |||
Energy (3.0%) | |||
Exxon Mobil Corp. | 571,378 | 44,807 | |
Chevron Corp. | 260,129 | 37,459 | |
ConocoPhillips | 177,934 | 16,879 | |
EOG Resources Inc. | 79,053 | 9,085 | |
Schlumberger NV | 189,461 | 7,434 | |
Kinder Morgan Inc. | 275,261 | 4,790 | |
Marathon Petroleum Corp. | 41,521 | 3,233 | |
Williams Cos. Inc. | 82,002 | 2,565 | |
Phillips 66 | 29,355 | 2,473 | |
128,725 |
Shares | Market Value• ($000) | ||
Financials (10.7%) | |||
* | Berkshire Hathaway Inc. Class B | 228,970 | 73,602 |
JPMorgan Chase & Co. | 398,792 | 56,549 | |
Bank of America Corp. | 939,029 | 41,505 | |
Wells Fargo & Co. | 538,154 | 28,721 | |
Morgan Stanley | 193,718 | 17,578 | |
Charles Schwab Corp. | 207,774 | 17,549 | |
S&P Global Inc. | 45,374 | 17,047 | |
Citigroup Inc. | 267,781 | 15,861 | |
Goldman Sachs Group Inc. | 45,477 | 15,521 | |
BlackRock Inc. | 18,471 | 13,740 | |
Blackstone Inc. | 92,781 | 11,827 | |
CME Group Inc. | 48,458 | 11,462 | |
PNC Financial Services Group Inc. | 57,012 | 11,360 | |
Truist Financial Corp. | 180,114 | 11,207 | |
Marsh & McLennan Cos. Inc. | 68,135 | 10,589 | |
US Bancorp | 179,998 | 10,177 | |
Chubb Ltd. | 49,420 | 10,064 | |
Intercontinental Exchange Inc. | 76,121 | 9,753 | |
Progressive Corp. | 78,859 | 8,353 | |
Aon plc Class A (XNYS) | 28,281 | 8,262 | |
Moody's Corp. | 21,329 | 6,869 | |
MetLife Inc. | 85,154 | 5,752 | |
Travelers Cos. Inc. | 33,176 | 5,701 | |
Prudential Financial Inc. | 51,035 | 5,698 | |
Bank of New York Mellon Corp. | 100,323 | 5,332 | |
Aflac Inc. | 80,313 | 4,906 | |
Allstate Corp. | 38,680 | 4,733 | |
KKR & Co. Inc. | 75,005 | 4,509 | |
T Rowe Price Group Inc. | 30,336 | 4,385 | |
American International Group Inc. | 55,984 | 3,428 | |
* | Coinbase Global Inc. Class A | 17,765 | 3,389 |
* | Berkshire Hathaway Inc. Class A | 5 | 2,381 |
Rocket Cos. Inc. Class A | 18,197 | 235 | |
458,045 | |||
Health Care (13.0%) | |||
UnitedHealth Group Inc. | 127,068 | 60,468 | |
Johnson & Johnson | 355,226 | 58,459 | |
Pfizer Inc. | 757,368 | 35,551 | |
AbbVie Inc. | 238,509 | 35,244 | |
Eli Lilly & Co. | 116,133 | 29,027 | |
Thermo Fisher Scientific Inc. | 53,164 | 28,921 | |
Abbott Laboratories | 238,556 | 28,775 | |
Merck & Co. Inc. | 340,826 | 26,100 | |
Danaher Corp. | 86,839 | 23,829 | |
Bristol-Myers Squibb Co. | 299,689 | 20,580 | |
Medtronic plc | 181,536 | 19,059 | |
Amgen Inc. | 76,006 | 17,214 | |
Anthem Inc. | 32,741 | 14,794 | |
* | Intuitive Surgical Inc. | 48,234 | 14,004 |
Zoetis Inc. | 63,864 | 12,367 | |
Stryker Corp. | 45,807 | 12,063 | |
Cigna Corp. | 44,712 | 10,632 | |
Becton Dickinson and Co. | 38,351 | 10,404 | |
Gilead Sciences Inc. | 169,451 | 10,235 | |
* | Edwards Lifesciences Corp. | 84,314 | 9,474 |
* | Boston Scientific Corp. | 192,116 | 8,486 |
Shares | Market Value• ($000) | ||
* | Regeneron Pharmaceuticals Inc. | 13,571 | 8,392 |
* | Vertex Pharmaceuticals Inc. | 34,316 | 7,893 |
HCA Healthcare Inc. | 31,486 | 7,881 | |
Humana Inc. | 17,318 | 7,522 | |
* | Moderna Inc. | 46,477 | 7,139 |
* | Illumina Inc. | 21,054 | 6,876 |
Baxter International Inc. | 67,457 | 5,732 | |
Agilent Technologies Inc. | 40,679 | 5,303 | |
* | Align Technology Inc. | 10,127 | 5,180 |
* | Biogen Inc. | 19,823 | 4,183 |
* | IDEXX Laboratories Inc. | 5,755 | 3,064 |
Zimmer Biomet Holdings Inc. | 14,088 | 1,792 | |
556,643 | |||
Industrials (11.4%) | |||
Visa Inc. Class A | 225,323 | 48,697 | |
Mastercard Inc. Class A | 118,326 | 42,694 | |
Accenture plc Class A | 88,638 | 28,011 | |
Union Pacific Corp. | 86,765 | 21,340 | |
Raytheon Technologies Corp. | 202,005 | 20,746 | |
United Parcel Service Inc. Class B | 98,454 | 20,717 | |
* | PayPal Holdings Inc. | 158,526 | 17,744 |
Honeywell International Inc. | 92,896 | 17,627 | |
* | Boeing Co. | 79,309 | 16,285 |
American Express Co. | 78,347 | 15,242 | |
General Electric Co. | 148,326 | 14,167 | |
Lockheed Martin Corp. | 31,654 | 13,731 | |
Caterpillar Inc. | 73,020 | 13,697 | |
Deere & Co. | 37,649 | 13,554 | |
Automatic Data Processing Inc. | 56,893 | 11,631 | |
3M Co. | 77,788 | 11,563 | |
CSX Corp. | 299,344 | 10,151 | |
Capital One Financial Corp. | 57,433 | 8,803 | |
Northrop Grumman Corp. | 19,258 | 8,515 | |
Norfolk Southern Corp. | 32,793 | 8,412 | |
Sherwin-Williams Co. | 31,847 | 8,380 | |
Eaton Corp. plc | 53,735 | 8,291 | |
Illinois Tool Works Inc. | 38,116 | 8,246 | |
* | Fiserv Inc. | 80,159 | 7,829 |
Fidelity National Information Services Inc. | 82,190 | 7,827 | |
General Dynamics Corp. | 32,078 | 7,521 | |
Emerson Electric Co. | 80,300 | 7,461 | |
FedEx Corp. | 32,237 | 7,165 | |
* | Block Inc. (XNYS) | 53,810 | 6,861 |
L3Harris Technologies Inc. | 26,428 | 6,668 | |
Johnson Controls International plc | 95,033 | 6,173 | |
DuPont de Nemours Inc. | 69,907 | 5,409 | |
Global Payments Inc. | 39,170 | 5,224 | |
Paychex Inc. | 43,820 | 5,217 | |
Parker-Hannifin Corp. | 17,310 | 5,131 | |
Trane Technologies plc | 32,021 | 4,929 | |
PPG Industries Inc. | 32,109 | 4,285 | |
Cummins Inc. | 19,336 | 3,947 | |
Otis Worldwide Corp. | 28,676 | 2,246 | |
Rockwell Automation Inc. | 7,866 | 2,097 | |
Stanley Black & Decker Inc. | 11,038 | 1,796 | |
* | GreenSky Inc. Class A | 1,467 | 15 |
486,045 |
Shares | Market Value• ($000) | ||
Real Estate (1.3%) | |||
Prologis Inc. | 99,737 | 14,547 | |
American Tower Corp. | 61,445 | 13,940 | |
Crown Castle International Corp. | 58,329 | 9,717 | |
Equinix Inc. | 12,125 | 8,605 | |
Public Storage | 20,127 | 7,146 | |
Simon Property Group Inc. | 22,167 | 3,049 | |
57,004 | |||
Technology (32.7%) | |||
Apple Inc. | 2,103,289 | 347,295 | |
Microsoft Corp. | 1,013,152 | 302,720 | |
* | Alphabet Inc. Class A | 40,574 | 109,596 |
* | Alphabet Inc. Class C | 36,422 | 98,260 |
NVIDIA Corp. | 320,498 | 78,154 | |
* | Meta Platforms Inc. Class A | 319,301 | 67,382 |
Broadcom Inc. | 52,742 | 30,983 | |
* | Adobe Inc. | 64,225 | 30,037 |
* | Advanced Micro Devices Inc. | 219,541 | 27,078 |
* | salesforce.com Inc. | 125,468 | 26,415 |
Intel Corp. | 548,768 | 26,176 | |
QUALCOMM Inc. | 151,122 | 25,992 | |
Texas Instruments Inc. | 124,617 | 21,184 | |
Intuit Inc. | 38,231 | 18,136 | |
Oracle Corp. | 221,303 | 16,812 | |
Applied Materials Inc. | 121,767 | 16,341 | |
* | ServiceNow Inc. | 26,830 | 15,559 |
International Business Machines Corp. | 121,044 | 14,829 | |
Micron Technology Inc. | 151,016 | 13,419 | |
Analog Devices Inc. | 72,508 | 11,622 | |
Lam Research Corp. | 19,033 | 10,684 | |
* | Snowflake Inc. Class A | 36,572 | 9,716 |
KLA Corp. | 20,443 | 7,124 | |
* | Snap Inc. Class A | 164,600 | 6,574 |
* | Autodesk Inc. | 29,693 | 6,539 |
Roper Technologies Inc. | 14,221 | 6,374 | |
TE Connectivity Ltd. | 44,006 | 6,268 | |
Cognizant Technology Solutions Corp. Class A | 70,853 | 6,103 | |
* | Workday Inc. Class A | 26,002 | 5,956 |
HP Inc. | 155,479 | 5,342 | |
* | Crowdstrike Holdings Inc. Class A | 26,383 | 5,150 |
* | Twilio Inc. Class A | 22,719 | 3,971 |
Marvell Technology Inc. | 55,350 | 3,782 | |
* | Zoom Video Communications Inc. Class A | 27,798 | 3,686 |
VMware Inc. Class A | 28,389 | 3,331 | |
* | DoorDash Inc. Class A | 27,321 | 2,867 |
* | Dell Technologies Inc. Class C | 37,250 | 1,898 |
* | Twitter Inc. | 51,157 | 1,819 |
Shares | Market Value• ($000) | ||
* | DocuSign Inc. Class A | 12,701 | 1,504 |
* | Palantir Technologies Inc. Class A | 115,701 | 1,371 |
1,398,049 | |||
Telecommunications (3.0%) | |||
Comcast Corp. Class A | 615,320 | 28,772 | |
Cisco Systems Inc. | 512,174 | 28,564 | |
Verizon Communications Inc. | 509,853 | 27,364 | |
AT&T Inc. | 964,088 | 22,839 | |
* | Charter Communications Inc. Class A | 15,761 | 9,485 |
* | T-Mobile US Inc. | 75,833 | 9,343 |
126,367 | |||
Utilities (2.1%) | |||
NextEra Energy Inc. | 264,734 | 20,721 | |
Duke Energy Corp. | 103,727 | 10,415 | |
Southern Co. | 142,887 | 9,255 | |
Dominion Energy Inc. | 109,332 | 8,695 | |
Waste Management Inc. | 56,454 | 8,152 | |
American Electric Power Co. Inc. | 67,860 | 6,151 | |
Sempra Energy (XNYS) | 42,496 | 6,129 | |
Exelon Corp. | 132,091 | 5,622 | |
Xcel Energy Inc. | 72,826 | 4,903 | |
Public Service Enterprise Group Inc. | 68,403 | 4,435 | |
Republic Services Inc. Class A | 27,874 | 3,353 | |
87,831 | |||
Total Common Stocks (Cost $2,657,926) | 4,252,779 | ||
Temporary Cash Investments (0.4%) | |||
Money Market Fund (0.4%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $15,336) | 153,378 | 15,336 |
Total Investments (100.0%) (Cost $2,673,262) | 4,268,115 | ||
Other Assets and Liabilities—Net (0.0%) | 1,276 | ||
Net Assets (100%) | 4,269,391 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $154,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $143,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | March 2022 | 74 | 16,162 | (618) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $2,657,926) | 4,252,779 |
Affiliated Issuers (Cost $15,336) | 15,336 |
Total Investments in Securities | 4,268,115 |
Investment in Vanguard | 148 |
Cash | 8 |
Cash Collateral Pledged—Futures Contracts | 805 |
Receivables for Accrued Income | 5,491 |
Total Assets | 4,274,567 |
Liabilities | |
Payables for Investment Securities Purchased | 4,882 |
Collateral for Securities on Loan | 143 |
Payables for Capital Shares Redeemed | 1 |
Payables to Vanguard | 106 |
Variation Margin Payable—Futures Contracts | 44 |
Total Liabilities | 5,176 |
Net Assets | 4,269,391 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 2,547,931 |
Total Distributable Earnings (Loss) | 1,721,460 |
Net Assets | 4,269,391 |
ETF Shares—Net Assets | |
Applicable to 26,600,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,088,720 |
Net Asset Value Per Share—ETF Shares | $153.71 |
Institutional Shares—Net Assets | |
Applicable to 596,123 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 180,671 |
Net Asset Value Per Share—Institutional Shares | $303.08 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 29,894 |
Interest1 | 3 |
Securities Lending—Net | 44 |
Total Income | 29,941 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 220 |
Management and Administrative—ETF Shares | 1,081 |
Management and Administrative—Institutional Shares | 41 |
Marketing and Distribution—ETF Shares | 58 |
Marketing and Distribution—Institutional Shares | 3 |
Custodian Fees | 104 |
Shareholders’ Reports—ETF Shares | 37 |
Shareholders’ Reports—Institutional Shares | — |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 8 |
Total Expenses | 1,553 |
Net Investment Income | 28,388 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 170,708 |
Futures Contracts | (461) |
Realized Net Gain (Loss) | 170,247 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (371,088) |
Futures Contracts | (749) |
Change in Unrealized Appreciation (Depreciation) | (371,837) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (173,202) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $3,000, less than $1,000, less than $1,000, and ($1,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $177,495,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 28,388 | 52,307 | |
Realized Net Gain (Loss) | 170,247 | 132,696 | |
Change in Unrealized Appreciation (Depreciation) | (371,837) | 813,740 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (173,202) | 998,743 | |
Distributions | |||
ETF Shares | (28,696) | (48,029) | |
Institutional Shares | (1,250) | (2,599) | |
Total Distributions | (29,946) | (50,628) | |
Capital Share Transactions | |||
ETF Shares | (4,183) | 349,653 | |
Institutional Shares | (1,408) | (36,024) | |
Net Increase (Decrease) from Capital Share Transactions | (5,591) | 313,629 | |
Total Increase (Decrease) | (208,739) | 1,261,744 | |
Net Assets | |||
Beginning of Period | 4,478,130 | 3,216,386 | |
End of Period | 4,269,391 | 4,478,130 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $160.74 | $125.47 | $101.36 | $100.26 | $85.02 | $74.19 |
Investment Operations | ||||||
Net Investment Income1 | 1.014 | 1.961 | 1.992 | 2.045 | 1.790 | 1.676 |
Net Realized and Unrealized Gain (Loss) on Investments | (6.979) | 35.218 | 24.065 | 1.052 | 15.214 | 10.788 |
Total from Investment Operations | (5.965) | 37.179 | 26.057 | 3.097 | 17.004 | 12.464 |
Distributions | ||||||
Dividends from Net Investment Income | (1.065) | (1.908) | (1.947) | (1.997) | (1.764) | (1.634) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.065) | (1.908) | (1.947) | (1.997) | (1.764) | (1.634) |
Net Asset Value, End of Period | $153.71 | $160.74 | $125.47 | $101.36 | $100.26 | $85.02 |
Total Return | -3.74% | 29.94% | 26.14% | 3.26% | 20.25% | 17.01% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $4,089 | $4,288 | $3,036 | $1,944 | $1,542 | $1,233 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.26% | 1.41% | 1.85% | 2.10% | 1.93% | 2.12% |
Portfolio Turnover Rate2 | 1% | 5% | 4% | 4% | 4% | 6% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $316.94 | $247.38 | $199.84 | $197.68 | $167.62 | $146.25 |
Investment Operations | ||||||
Net Investment Income1 | 2.014 | 3.882 | 3.943 | 4.053 | 3.513 | 3.362 |
Net Realized and Unrealized Gain (Loss) on Investments | (13.760) | 69.463 | 47.454 | 2.062 | 30.038 | 21.220 |
Total from Investment Operations | (11.746) | 73.345 | 51.397 | 6.115 | 33.551 | 24.582 |
Distributions | ||||||
Dividends from Net Investment Income | (2.114) | (3.785) | (3.857) | (3.955) | (3.491) | (3.212) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.114) | (3.785) | (3.857) | (3.955) | (3.491) | (3.212) |
Net Asset Value, End of Period | $303.08 | $316.94 | $247.38 | $199.84 | $197.68 | $167.62 |
Total Return | -3.73% | 29.97% | 26.19% | 3.25% | 20.26% | 17.02% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $181 | $190 | $180 | $150 | $122 | $132 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.27% | 1.42% | 1.86% | 2.11% | 1.94% | 2.13% |
Portfolio Turnover Rate2 | 1% | 5% | 4% | 4% | 4% | 6% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 2,673,386 |
Gross Unrealized Appreciation | 1,658,788 |
Gross Unrealized Depreciation | (64,677) |
Net Unrealized Appreciation (Depreciation) | 1,594,111 |
E. | During the six months ended February 28, 2022, the fund purchased $306,358,000 of investment securities and sold $324,308,000 of investment securities, other than temporary cash investments. Purchases and sales include $226,126,000 and $257,852,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 258,765 | 1,600 | 598,960 | 4,325 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (262,948) | (1,675) | (249,307) | (1,850) | |
Net Increase (Decrease)—ETF Shares | (4,183) | (75) | 349,653 | 2,475 | |
Institutional Shares | |||||
Issued | 6,773 | 22 | 8,330 | 31 | |
Issued in Lieu of Cash Distributions | 1,250 | 4 | 1,860 | 7 | |
Redeemed | (9,431) | (30) | (46,214) | (166) | |
Net Increase (Decrease)—Institutional Shares | (1,408) | (4) | (36,024) | (128) |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Basic Materials | 1.1% |
Consumer Discretionary | 25.8 |
Consumer Staples | 0.7 |
Financials | 1.6 |
Health Care | 5.9 |
Industrials | 8.9 |
Real Estate | 1.7 |
Technology | 53.9 |
Telecommunications | 0.4 |
Shares | Market Value• ($000) | ||
Common Stocks (99.8%) | |||
Basic Materials (1.2%) | |||
Linde plc | 374,072 | 109,693 | |
Ecolab Inc. | 188,170 | 33,167 | |
142,860 | |||
Consumer Discretionary (25.7%) | |||
* | Amazon.com Inc. | 314,949 | 967,290 |
* | Tesla Inc. | 587,038 | 510,975 |
Home Depot Inc. | 763,091 | 241,007 | |
* | Walt Disney Co. | 1,328,257 | 197,193 |
Costco Wholesale Corp. | 322,859 | 167,645 | |
McDonald's Corp. | 546,270 | 133,710 | |
* | Netflix Inc. | 323,715 | 127,712 |
NIKE Inc. Class B | 933,720 | 127,499 | |
Lowe's Cos. Inc. | 492,350 | 108,839 | |
Starbucks Corp. | 857,565 | 78,716 | |
* | Booking Holdings Inc. | 29,956 | 65,072 |
TJX Cos. Inc. | 834,517 | 55,162 | |
Estee Lauder Cos. Inc. Class A | 160,831 | 47,659 | |
* | Uber Technologies Inc. | 1,061,748 | 38,255 |
* | Airbnb Inc. Class A | 240,501 | 36,433 |
* | Marriott International Inc. Class A | 202,014 | 34,371 |
Dollar General Corp. | 170,235 | 33,764 | |
* | O'Reilly Automotive Inc. | 49,186 | 31,934 |
* | Lululemon Athletica Inc. | 86,571 | 27,698 |
Electronic Arts Inc. | 207,057 | 26,936 | |
Yum! Brands Inc. | 213,737 | 26,200 | |
Ross Stores Inc. | 260,366 | 23,795 | |
Activision Blizzard Inc. | 284,559 | 23,192 | |
* | Hilton Worldwide Holdings Inc. | 101,925 | 15,173 |
* | Chipotle Mexican Grill Inc. Class A | 9,790 | 14,914 |
* | AutoZone Inc. | 7,626 | 14,210 |
* | Roblox Corp. Class A | 212,416 | 10,954 |
* | Carvana Co. Class A | 62,653 | 9,427 |
*,1 | Rivian Automotive Inc. Class A | 129,399 | 8,742 |
*,1 | Lucid Group Inc. | 75,083 | 2,176 |
3,206,653 | |||
Consumer Staples (0.7%) | |||
Colgate-Palmolive Co. | 307,827 | 23,687 | |
* | Monster Beverage Corp. | 271,147 | 22,885 |
Hershey Co. | 106,530 | 21,547 | |
Brown-Forman Corp. Class B | 210,729 | 13,746 |
Shares | Market Value• ($000) | ||
Brown-Forman Corp. Class A | 30,223 | 1,845 | |
83,710 | |||
Financials (1.5%) | |||
S&P Global Inc. | 246,011 | 92,427 | |
Aon plc Class A (XNYS) | 152,897 | 44,667 | |
Moody's Corp. | 115,334 | 37,141 | |
* | Coinbase Global Inc. Class A | 96,588 | 18,426 |
192,661 | |||
Health Care (5.9%) | |||
Thermo Fisher Scientific Inc. | 287,904 | 156,620 | |
* | Intuitive Surgical Inc. | 261,063 | 75,795 |
Zoetis Inc. | 345,744 | 66,953 | |
Danaher Corp. | 234,916 | 64,463 | |
* | Edwards Lifesciences Corp. | 456,057 | 51,247 |
* | Boston Scientific Corp. | 1,040,639 | 45,965 |
* | Regeneron Pharmaceuticals Inc. | 73,388 | 45,380 |
* | Vertex Pharmaceuticals Inc. | 185,713 | 42,718 |
* | Moderna Inc. | 251,604 | 38,646 |
* | Illumina Inc. | 114,105 | 37,267 |
Stryker Corp. | 124,019 | 32,660 | |
Agilent Technologies Inc. | 221,137 | 28,827 | |
* | Align Technology Inc. | 54,835 | 28,046 |
* | IDEXX Laboratories Inc. | 31,058 | 16,534 |
731,121 | |||
Industrials (8.9%) | |||
Visa Inc. Class A | 1,220,098 | 263,688 | |
Mastercard Inc. Class A | 641,011 | 231,290 | |
Accenture plc Class A | 479,935 | 151,669 | |
* | PayPal Holdings Inc. | 858,559 | 96,098 |
* | Boeing Co. | 429,537 | 88,201 |
United Parcel Service Inc. Class B | 266,387 | 56,053 | |
Sherwin-Williams Co. | 172,262 | 45,327 | |
* | Fiserv Inc. | 433,677 | 42,357 |
* | Block Inc. (XNYS) | 291,049 | 37,109 |
Automatic Data Processing Inc. | 154,243 | 31,533 | |
Paychex Inc. | 237,649 | 28,294 | |
Global Payments Inc. | 211,619 | 28,226 | |
Rockwell Automation Inc. | 42,507 | 11,332 | |
1,111,177 |
Shares | Market Value• ($000) | ||
Real Estate (1.7%) | |||
American Tower Corp. | 332,879 | 75,520 | |
Crown Castle International Corp. | 315,725 | 52,596 | |
Equinix Inc. | 65,709 | 46,636 | |
Public Storage | 108,867 | 38,650 | |
213,402 | |||
Technology (53.8%) | |||
Apple Inc. | 11,389,089 | 1,880,566 | |
Microsoft Corp. | 5,486,205 | 1,639,223 | |
* | Alphabet Inc. Class A | 219,627 | 593,243 |
* | Alphabet Inc. Class C | 197,575 | 533,022 |
NVIDIA Corp. | 1,735,446 | 423,188 | |
* | Meta Platforms Inc. Class A | 1,729,055 | 364,882 |
* | Adobe Inc. | 347,620 | 162,575 |
* | Advanced Micro Devices Inc. | 1,189,213 | 146,678 |
* | salesforce.com Inc. | 679,614 | 143,079 |
Texas Instruments Inc. | 674,839 | 114,716 | |
Intuit Inc. | 206,852 | 98,124 | |
Applied Materials Inc. | 659,821 | 88,548 | |
* | ServiceNow Inc. | 145,396 | 84,318 |
Lam Research Corp. | 102,893 | 57,759 | |
* | Snowflake Inc. Class A | 197,835 | 52,557 |
KLA Corp. | 110,896 | 38,647 | |
Micron Technology Inc. | 408,118 | 36,265 | |
* | Snap Inc. Class A | 890,129 | 35,552 |
* | Autodesk Inc. | 160,391 | 35,323 |
* | Workday Inc. Class A | 140,719 | 32,232 |
* | Crowdstrike Holdings Inc. Class A | 143,167 | 27,948 |
* | Twilio Inc. Class A | 123,347 | 21,561 |
Marvell Technology Inc. | 300,544 | 20,536 | |
* | Zoom Video Communications Inc. Class A | 150,752 | 19,990 |
Shares | Market Value• ($000) | ||
Roper Technologies Inc. | 38,485 | 17,250 | |
* | DoorDash Inc. Class A | 148,357 | 15,570 |
* | Twitter Inc. | 278,130 | 9,888 |
* | DocuSign Inc. Class A | 68,473 | 8,109 |
* | Palantir Technologies Inc. Class A | 628,095 | 7,443 |
6,708,792 | |||
Telecommunications (0.4%) | |||
* | Charter Communications Inc. Class A | 85,107 | 51,216 |
Total Common Stocks (Cost $8,939,412) | 12,441,592 | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $17,906) | 179,092 | 17,907 |
Total Investments (100.0%) (Cost $8,957,318) | 12,459,499 | ||
Other Assets and Liabilities—Net (0.0%) | 1,667 | ||
Net Assets (100%) | 12,461,166 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $6,765,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $6,508,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini NASDAQ 100 Index | March 2022 | 63 | 17,927 | (1,227) |
E-mini S&P 500 Index | March 2022 | 7 | 1,529 | (99) |
(1,326) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $8,939,412) | 12,441,592 |
Affiliated Issuers (Cost $17,906) | 17,907 |
Total Investments in Securities | 12,459,499 |
Investment in Vanguard | 444 |
Cash | 8 |
Cash Collateral Pledged—Futures Contracts | 955 |
Receivables for Investment Securities Sold | 27,199 |
Receivables for Accrued Income | 6,349 |
Variation Margin Receivable—Futures Contracts | 51 |
Total Assets | 12,494,505 |
Liabilities | |
Payables for Investment Securities Purchased | 26,511 |
Collateral for Securities on Loan | 6,508 |
Payables for Capital Shares Redeemed | 11 |
Payables to Vanguard | 309 |
Total Liabilities | 33,339 |
Net Assets | 12,461,166 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 8,548,139 |
Total Distributable Earnings (Loss) | 3,913,027 |
Net Assets | 12,461,166 |
ETF Shares—Net Assets | |
Applicable to 55,014,192 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 12,419,043 |
Net Asset Value Per Share—ETF Shares | $225.74 |
Institutional Shares—Net Assets | |
Applicable to 93,941 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 42,123 |
Net Asset Value Per Share—Institutional Shares | $448.40 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 32,264 |
Interest1 | 9 |
Securities Lending—Net | 115 |
Total Income | 32,388 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 640 |
Management and Administrative—ETF Shares | 3,585 |
Management and Administrative—Institutional Shares | 10 |
Marketing and Distribution—ETF Shares | 216 |
Marketing and Distribution—Institutional Shares | 1 |
Custodian Fees | 4 |
Shareholders’ Reports—ETF Shares | 142 |
Shareholders’ Reports—Institutional Shares | — |
Trustees’ Fees and Expenses | 3 |
Other Expenses | 8 |
Total Expenses | 4,609 |
Net Investment Income | 27,779 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 623,350 |
Futures Contracts | 820 |
Realized Net Gain (Loss) | 624,170 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (1,934,796) |
Futures Contracts | (2,854) |
Change in Unrealized Appreciation (Depreciation) | (1,937,650) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (1,285,701) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $8,000, ($3,000), $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $669,713,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 27,779 | 60,577 | |
Realized Net Gain (Loss) | 624,170 | 1,329,075 | |
Change in Unrealized Appreciation (Depreciation) | (1,937,650) | 1,201,098 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (1,285,701) | 2,590,750 | |
Distributions | |||
ETF Shares | (29,204) | (61,584) | |
Institutional Shares | (104) | (342) | |
Total Distributions | (29,308) | (61,926) | |
Capital Share Transactions | |||
ETF Shares | 1,015,483 | 2,252 | |
Institutional Shares | 215 | (44,428) | |
Net Increase (Decrease) from Capital Share Transactions | 1,015,698 | (42,176) | |
Total Increase (Decrease) | (299,311) | 2,486,648 | |
Net Assets | |||
Beginning of Period | 12,760,477 | 10,273,829 | |
End of Period | 12,461,166 | 12,760,477 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $248.50 | $196.25 | $132.22 | $127.79 | $104.09 | $87.15 |
Investment Operations | ||||||
Net Investment Income1 | .515 | 1.220 | 1.358 | 1.588 | 1.485 | 1.351 |
Net Realized and Unrealized Gain (Loss) on Investments | (22.727) | 52.279 | 64.007 | 3.860 | 23.677 | 16.920 |
Total from Investment Operations | (22.212) | 53.499 | 65.365 | 5.448 | 25.162 | 18.271 |
Distributions | ||||||
Dividends from Net Investment Income | (.548) | (1.249) | (1.335) | (1.018) | (1.462) | (1.331) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.548) | (1.249) | (1.335) | (1.018) | (1.462) | (1.331) |
Net Asset Value, End of Period | $225.74 | $248.50 | $196.25 | $132.22 | $127.79 | $104.09 |
Total Return | -8.96% | 27.41% | 49.84% | 4.32% | 24.38% | 21.17% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $12,419 | $12,714 | $10,193 | $4,388 | $4,152 | $3,135 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.42% | 0.58% | 0.90% | 1.30% | 1.29% | 1.43% |
Portfolio Turnover Rate2 | 2% | 8% | 6% | 14% | 9% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $493.61 | $389.78 | $262.63 | $253.80 | $206.74 | $173.07 |
Investment Operations | ||||||
Net Investment Income1 | 1.049 | 2.498 | 2.707 | 3.184 | 2.963 | 2.699 |
Net Realized and Unrealized Gain (Loss) on Investments | (45.143) | 103.822 | 127.126 | 7.684 | 47.023 | 33.622 |
Total from Investment Operations | (44.094) | 106.320 | 129.833 | 10.868 | 49.986 | 36.321 |
Distributions | ||||||
Dividends from Net Investment Income | (1.116) | (2.489) | (2.683) | (2.038) | (2.926) | (2.651) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.116) | (2.489) | (2.683) | (2.038) | (2.926) | (2.651) |
Net Asset Value, End of Period | $448.40 | $493.61 | $389.78 | $262.63 | $253.80 | $206.74 |
Total Return | -8.95% | 27.43% | 49.87% | 4.34% | 24.39% | 21.20% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $42 | $46 | $81 | $43 | $43 | $35 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.43% | 0.62% | 0.91% | 1.31% | 1.30% | 1.44% |
Portfolio Turnover Rate2 | 2% | 8% | 6% | 14% | 9% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 8,957,453 |
Gross Unrealized Appreciation | 3,821,151 |
Gross Unrealized Depreciation | (320,431) |
Net Unrealized Appreciation (Depreciation) | 3,500,720 |
E. | During the six months ended February 28, 2022, the fund purchased $2,580,365,000 of investment securities and sold $1,548,961,000 of investment securities, other than temporary cash investments. Purchases and sales include $2,200,579,000 and $1,229,083,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 2,248,847 | 9,050 | 2,269,215 | 10,750 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,233,364) | (5,200) | (2,266,963) | (11,525) | |
Net Increase (Decrease)—ETF Shares | 1,015,483 | 3,850 | 2,252 | (775) | |
Institutional Shares | �� | ||||
Issued | 1,506 | 3 | 13,626 | 29 | |
Issued in Lieu of Cash Distributions | 104 | 1 | 341 | 1 | |
Redeemed | (1,395) | (3) | (58,395) | (145) | |
Net Increase (Decrease)—Institutional Shares | 215 | 1 | (44,428) | (115) |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
Basic Materials | 1.5% |
Consumer Discretionary | 3.4 |
Consumer Staples | 11.4 |
Energy | 6.6 |
Financials | 21.6 |
Health Care | 21.6 |
Industrials | 14.4 |
Real Estate | 0.9 |
Technology | 8.1 |
Telecommunications | 6.0 |
Utilities | 4.5 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Basic Materials (1.5%) | |||
Freeport-McMoRan Inc. | 531,473 | 24,953 | |
Newmont Corp. | 289,001 | 19,132 | |
Air Products and Chemicals Inc. | 80,038 | 18,913 | |
Dow Inc. | 267,807 | 15,790 | |
LyondellBasell Industries NV Class A | 269 | 26 | |
78,814 | |||
Consumer Discretionary (3.5%) | |||
Walmart Inc. | 504,681 | 68,213 | |
Target Corp. | 173,480 | 34,656 | |
Ford Motor Co. | 1,419,897 | 24,934 | |
* | General Motors Co. | 473,196 | 22,108 |
eBay Inc. | 214,826 | 11,727 | |
Activision Blizzard Inc. | 140,898 | 11,483 | |
VF Corp. | 63,925 | 3,709 | |
* | Las Vegas Sands Corp. | 76,068 | 3,260 |
*,1 | Lucid Group Inc. | 36,781 | 1,066 |
* | Southwest Airlines Co. | 601 | 26 |
181,182 | |||
Consumer Staples (11.4%) | |||
Procter & Gamble Co. | 875,981 | 136,557 | |
Coca-Cola Co. | 1,407,259 | 87,588 | |
PepsiCo Inc. | 500,469 | 81,947 | |
Philip Morris International Inc. | 563,427 | 56,945 | |
CVS Health Corp. | 477,807 | 49,525 | |
Altria Group Inc. | 665,109 | 34,113 | |
Mondelez International Inc. Class A | 505,174 | 33,079 | |
Sysco Corp. | 185,600 | 16,166 | |
Kimberly-Clark Corp. | 121,928 | 15,869 | |
General Mills Inc. | 219,428 | 14,796 | |
Walgreens Boots Alliance Inc. | 265,731 | 12,247 | |
Constellation Brands Inc. Class A | 56,503 | 12,183 | |
Colgate-Palmolive Co. | 152,747 | 11,754 | |
Keurig Dr Pepper Inc. | 281,718 | 10,894 | |
Kraft Heinz Co. | 243,814 | 9,562 | |
Archer-Daniels-Midland Co. | 101,312 | 7,948 | |
McKesson Corp. | 27,661 | 7,606 | |
Kroger Co. | 683 | 32 | |
598,811 |
Shares | Market Value• ($000) | ||
Energy (6.6%) | |||
Exxon Mobil Corp. | 1,532,459 | 120,175 | |
Chevron Corp. | 697,736 | 100,474 | |
ConocoPhillips | 477,326 | 45,279 | |
EOG Resources Inc. | 211,951 | 24,357 | |
Schlumberger NV | 507,229 | 19,904 | |
Kinder Morgan Inc. | 739,740 | 12,871 | |
Marathon Petroleum Corp. | 111,378 | 8,673 | |
Williams Cos. Inc. | 220,262 | 6,890 | |
Phillips 66 | 79,340 | 6,684 | |
345,307 | |||
Financials (21.6%) | |||
* | Berkshire Hathaway Inc. Class B | 632,039 | 203,169 |
JPMorgan Chase & Co. | 1,069,730 | 151,688 | |
Bank of America Corp. | 2,518,017 | 111,296 | |
Wells Fargo & Co. | 1,443,195 | 77,023 | |
Morgan Stanley | 519,571 | 47,146 | |
Charles Schwab Corp. | 557,254 | 47,066 | |
Citigroup Inc. | 718,228 | 42,541 | |
Goldman Sachs Group Inc. | 122,256 | 41,725 | |
BlackRock Inc. | 49,497 | 36,820 | |
Blackstone Inc. | 248,690 | 31,701 | |
CME Group Inc. | 130,116 | 30,776 | |
PNC Financial Services Group Inc. | 153,108 | 30,507 | |
Truist Financial Corp. | 482,919 | 30,047 | |
Marsh & McLennan Cos. Inc. | 182,723 | 28,397 | |
US Bancorp | 482,936 | 27,305 | |
Chubb Ltd. | 132,644 | 27,012 | |
Intercontinental Exchange Inc. | 203,887 | 26,122 | |
Progressive Corp. | 211,712 | 22,427 | |
MetLife Inc. | 228,577 | 15,440 | |
Travelers Cos. Inc. | 89,117 | 15,313 | |
Prudential Financial Inc. | 136,987 | 15,296 | |
Bank of New York Mellon Corp. | 269,131 | 14,304 | |
Aflac Inc. | 215,764 | 13,181 | |
Allstate Corp. | 103,526 | 12,667 | |
KKR & Co. Inc. | 201,509 | 12,115 | |
T Rowe Price Group Inc. | 81,537 | 11,787 | |
American International Group Inc. | 150,280 | 9,203 | |
1 | Rocket Cos. Inc. Class A | 48,024 | 620 |
* | Berkshire Hathaway Inc. Class A | 1 | 476 |
1,133,170 |
Shares | Market Value• ($000) | ||
Health Care (21.5%) | |||
UnitedHealth Group Inc. | 340,940 | 162,243 | |
Johnson & Johnson | 952,982 | 156,832 | |
Pfizer Inc. | 2,031,697 | 95,368 | |
AbbVie Inc. | 639,915 | 94,560 | |
Eli Lilly & Co. | 311,599 | 77,884 | |
Abbott Laboratories | 640,122 | 77,212 | |
Merck & Co. Inc. | 914,340 | 70,020 | |
Bristol-Myers Squibb Co. | 803,418 | 55,171 | |
Medtronic plc | 486,856 | 51,115 | |
Amgen Inc. | 203,916 | 46,183 | |
Anthem Inc. | 87,866 | 39,702 | |
Danaher Corp. | 116,423 | 31,948 | |
Cigna Corp. | 120,044 | 28,544 | |
Becton Dickinson and Co. | 102,904 | 27,916 | |
Gilead Sciences Inc. | 453,714 | 27,404 | |
HCA Healthcare Inc. | 84,355 | 21,115 | |
Humana Inc. | 46,524 | 20,206 | |
Stryker Corp. | 61,375 | 16,163 | |
Baxter International Inc. | 181,240 | 15,400 | |
* | Biogen Inc. | 53,188 | 11,223 |
Zimmer Biomet Holdings Inc. | 37,792 | 4,807 | |
1,131,016 | |||
Industrials (14.3%) | |||
Union Pacific Corp. | 232,696 | 57,232 | |
Raytheon Technologies Corp. | 541,790 | 55,642 | |
Honeywell International Inc. | 249,249 | 47,295 | |
American Express Co. | 210,229 | 40,898 | |
General Electric Co. | 397,548 | 37,970 | |
Lockheed Martin Corp. | 84,891 | 36,826 | |
Caterpillar Inc. | 195,795 | 36,727 | |
Deere & Co. | 101,110 | 36,402 | |
3M Co. | 208,465 | 30,988 | |
United Parcel Service Inc. Class B | 131,862 | 27,746 | |
CSX Corp. | 802,935 | 27,228 | |
Capital One Financial Corp. | 154,050 | 23,611 | |
Northrop Grumman Corp. | 51,584 | 22,807 | |
Norfolk Southern Corp. | 87,992 | 22,572 | |
Eaton Corp. plc | 144,258 | 22,258 | |
Illinois Tool Works Inc. | 102,201 | 22,110 | |
Fidelity National Information Services Inc. | 220,208 | 20,970 | |
General Dynamics Corp. | 85,815 | 20,119 | |
Emerson Electric Co. | 215,642 | 20,037 | |
FedEx Corp. | 86,548 | 19,237 | |
L3Harris Technologies Inc. | 71,096 | 17,938 | |
Johnson Controls International plc | 255,106 | 16,572 | |
Automatic Data Processing Inc. | 76,260 | 15,591 | |
DuPont de Nemours Inc. | 187,722 | 14,524 | |
Parker-Hannifin Corp. | 46,432 | 13,762 | |
Trane Technologies plc | 86,065 | 13,248 | |
PPG Industries Inc. | 85,745 | 11,443 | |
Cummins Inc. | 51,654 | 10,544 | |
Otis Worldwide Corp. | 77,107 | 6,040 | |
Stanley Black & Decker Inc. | 29,527 | 4,804 | |
PACCAR Inc. | 351 | 32 | |
* | GreenSky Inc. Class A | 1,467 | 14 |
753,187 |
Shares | Market Value• ($000) | ||
Real Estate (0.9%) | |||
Prologis Inc. | 267,686 | 39,042 | |
Simon Property Group Inc. | 59,475 | 8,181 | |
47,223 | |||
Technology (8.1%) | |||
Broadcom Inc. | 141,593 | 83,177 | |
Intel Corp. | 1,472,207 | 70,224 | |
QUALCOMM Inc. | 405,385 | 69,722 | |
Oracle Corp. | 593,742 | 45,107 | |
International Business Machines Corp. | 324,593 | 39,766 | |
Analog Devices Inc. | 194,581 | 31,189 | |
Micron Technology Inc. | 202,368 | 17,983 | |
TE Connectivity Ltd. | 118,182 | 16,833 | |
Cognizant Technology Solutions Corp. Class A | 190,197 | 16,382 | |
HP Inc. | 417,471 | 14,344 | |
VMware Inc. Class A | 76,093 | 8,927 | |
Roper Technologies Inc. | 19,040 | 8,534 | |
* | Dell Technologies Inc. Class C | 100,331 | 5,113 |
427,301 | |||
Telecommunications (6.0%) | |||
Comcast Corp. Class A | 1,650,372 | 77,171 | |
Cisco Systems Inc. | 1,374,021 | 76,629 | |
Verizon Communications Inc. | 1,367,560 | 73,397 | |
AT&T Inc. | 2,584,780 | 61,234 | |
* | T-Mobile US Inc. | 203,441 | 25,066 |
313,497 | |||
Utilities (4.5%) | |||
NextEra Energy Inc. | 710,280 | 55,594 | |
Duke Energy Corp. | 278,284 | 27,942 | |
Southern Co. | 383,719 | 24,853 | |
Dominion Energy Inc. | 293,381 | 23,333 | |
Waste Management Inc. | 151,538 | 21,882 | |
American Electric Power Co. Inc. | 182,446 | 16,539 | |
Sempra Energy (XNYS) | 114,124 | 16,459 | |
Exelon Corp. | 354,427 | 15,084 | |
Xcel Energy Inc. | 194,560 | 13,100 | |
Public Service Enterprise Group Inc. | 182,657 | 11,842 | |
Republic Services Inc. Class A | 74,555 | 8,967 | |
235,595 | |||
Total Common Stocks (Cost $3,958,894) | 5,245,103 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.0%) | |||
Money Market Fund (0.0%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $697) | 6,970 | 697 |
Total Investments (99.9%) (Cost $3,959,591) | 5,245,800 | ||
Other Assets and Liabilities—Net (0.1%) | 5,065 | ||
Net Assets (100%) | 5,250,865 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $707,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $695,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | March 2022 | 26 | 5,678 | (129) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $3,958,894) | 5,245,103 |
Affiliated Issuers (Cost $697) | 697 |
Total Investments in Securities | 5,245,800 |
Investment in Vanguard | 175 |
Cash Collateral Pledged—Futures Contracts | 230 |
Receivables for Accrued Income | 11,451 |
Receivables for Capital Shares Issued | 35 |
Total Assets | 5,257,691 |
Liabilities | |
Due to Custodian | 5,901 |
Payables for Investment Securities Purchased | 46 |
Collateral for Securities on Loan | 695 |
Payables for Capital Shares Redeemed | 42 |
Payables to Vanguard | 129 |
Variation Margin Payable—Futures Contracts | 13 |
Total Liabilities | 6,826 |
Net Assets | 5,250,865 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 3,970,707 |
Total Distributable Earnings (Loss) | 1,280,158 |
Net Assets | 5,250,865 |
ETF Shares—Net Assets | |
Applicable to 48,939,847 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 5,115,221 |
Net Asset Value Per Share—ETF Shares | $104.52 |
Institutional Shares—Net Assets | |
Applicable to 654,453 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 135,644 |
Net Asset Value Per Share—Institutional Shares | $207.26 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 60,138 |
Interest1 | 1 |
Securities Lending—Net | 41 |
Total Income | 60,180 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 250 |
Management and Administrative—ETF Shares | 1,272 |
Management and Administrative—Institutional Shares | 28 |
Marketing and Distribution—ETF Shares | 70 |
Marketing and Distribution—Institutional Shares | 2 |
Custodian Fees | 9 |
Shareholders’ Reports—ETF Shares | 72 |
Shareholders’ Reports—Institutional Shares | 1 |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 8 |
Total Expenses | 1,713 |
Net Investment Income | 58,467 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 79,645 |
Futures Contracts | (131) |
Realized Net Gain (Loss) | 79,514 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 6,770 |
Futures Contracts | (336) |
Change in Unrealized Appreciation (Depreciation) | 6,434 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 144,415 |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,000, less than $1,000, $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $97,758,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 58,467 | 97,874 | |
Realized Net Gain (Loss) | 79,514 | 126,813 | |
Change in Unrealized Appreciation (Depreciation) | 6,434 | 878,724 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 144,415 | 1,103,411 | |
Distributions | |||
ETF Shares | (58,871) | (89,173) | |
Institutional Shares | (1,602) | (3,020) | |
Total Distributions | (60,473) | (92,193) | |
Capital Share Transactions | |||
ETF Shares | 447,235 | 592,269 | |
Institutional Shares | 4,953 | �� | (22,744) |
Net Increase (Decrease) from Capital Share Transactions | 452,188 | 569,525 | |
Total Increase (Decrease) | 536,130 | 1,580,743 | |
Net Assets | |||
Beginning of Period | 4,714,735 | 3,133,992 | |
End of Period | 5,250,865 | 4,714,735 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $102.64 | $78.96 | $78.94 | $79.89 | $70.19 | $63.52 |
Investment Operations | ||||||
Net Investment Income1 | 1.226 | 2.271 | 2.271 | 2.261 | 1.893 | 1.843 |
Net Realized and Unrealized Gain (Loss) on Investments | 1.933 | 23.557 | (.044) | (1.027) | 9.668 | 6.557 |
Total from Investment Operations | 3.159 | 25.828 | 2.227 | 1.234 | 11.561 | 8.400 |
Distributions | ||||||
Dividends from Net Investment Income | (1.279) | (2.148) | (2.207) | (2.184) | (1.861) | (1.730) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.279) | (2.148) | (2.207) | (2.184) | (1.861) | (1.730) |
Net Asset Value, End of Period | $104.52 | $102.64 | $78.96 | $78.94 | $79.89 | $70.19 |
Total Return | 3.10% | 33.17% | 2.94% | 1.69% | 16.71% | 13.40% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $5,115 | $4,587 | $3,017 | $2,448 | $2,120 | $1,717 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.36% | 2.47% | 2.90% | 2.90% | 2.50% | 2.73% |
Portfolio Turnover Rate2 | 5% | 11% | 9% | 10% | 8% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $203.54 | $156.56 | $156.53 | $158.41 | $139.18 | $125.94 |
Investment Operations | ||||||
Net Investment Income1 | 2.439 | 4.492 | 4.522 | 4.467 | 3.743 | 3.596 |
Net Realized and Unrealized Gain (Loss) on Investments | 3.826 | 46.761 | (.102) | (2.002) | 19.188 | 13.077 |
Total from Investment Operations | 6.265 | 51.253 | 4.420 | 2.465 | 22.931 | 16.673 |
Distributions | ||||||
Dividends from Net Investment Income | (2.545) | (4.274) | (4.390) | (4.345) | (3.701) | (3.433) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.545) | (4.274) | (4.390) | (4.345) | (3.701) | (3.433) |
Net Asset Value, End of Period | $207.26 | $203.54 | $156.56 | $156.53 | $158.41 | $139.18 |
Total Return | 3.11% | 33.22% | 3.00% | 1.68% | 16.71% | 13.41% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $136 | $128 | $117 | $134 | $131 | $125 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 2.37% | 2.49% | 2.89% | 2.91% | 2.51% | 2.74% |
Portfolio Turnover Rate2 | 5% | 11% | 9% | 10% | 8% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
D. | As of February 28, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 3,961,286 |
Gross Unrealized Appreciation | 1,336,098 |
Gross Unrealized Depreciation | (51,713) |
Net Unrealized Appreciation (Depreciation) | 1,284,385 |
E. | During the six months ended February 28, 2022, the fund purchased $921,811,000 of investment securities and sold $466,704,000 of investment securities, other than temporary cash investments. Purchases and sales include $613,794,000 and $210,976,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 664,154 | 6,354 | 985,809 | 10,826 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (216,919) | (2,100) | (393,540) | (4,350) | |
Net Increase (Decrease)—ETF Shares | 447,235 | 4,254 | 592,269 | 6,476 | |
Institutional Shares | |||||
Issued | 9,136 | 44 | 9,063 | 52 | |
Issued in Lieu of Cash Distributions | 486 | 2 | 1,668 | 10 | |
Redeemed | (4,669) | (22) | (33,475) | (180) | |
Net Increase (Decrease)—Institutional Shares | 4,953 | 24 | (22,744) | (118) |
G. | Market disruptions associated with current geopolitical events have had a global impact, and uncertainty exists as to their implications. Such disruptions can adversely affect assets and thus performance of the fund; at this time, an aggregate effect on assets and performance cannot be reasonably estimated. Management is continuing to monitor these developments and evaluate impacts they may have on the fund. |
All rights reserved.
U.S. Patent Nos. 6,879,964.
Vanguard Marketing Corporation, Distributor.
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Global Wellington Fund | |||
Investor Shares | $1,000.00 | $ 996.10 | $2.13 |
Admiral™ Shares | 1,000.00 | 996.30 | 1.48 |
Based on Hypothetical 5% Yearly Return | |||
Global Wellington Fund | |||
Investor Shares | $1,000.00 | $1,022.66 | $2.16 |
Admiral Shares | 1,000.00 | 1,023.31 | 1.51 |
United States | 59.4% |
Japan | 7.5 |
United Kingdom | 6.7 |
France | 6.0 |
Switzerland | 4.1 |
Sweden | 2.1 |
Spain | 1.9 |
Canada | 1.5 |
Taiwan | 1.1 |
South Korea | 1.0 |
Germany | 1.0 |
Other | 7.7 |
Shares | Market Value• ($000) | |||||
Common Stocks (64.6%) | ||||||
Austria (0.6%) | ||||||
Erste Group Bank AG | 343,596 | 12,214 | ||||
Canada (0.6%) | ||||||
Dollarama Inc. | 210,636 | 10,885 | ||||
Finland (0.8%) | ||||||
* | Nokia OYJ | 2,867,954 | 15,508 | |||
France (4.6%) | ||||||
Safran SA | 144,781 | 18,409 | ||||
Engie SA | 868,740 | 13,841 | ||||
Arkema SA | 103,776 | 13,763 | ||||
TotalEnergies SE | 259,247 | 13,207 | ||||
BNP Paribas SA | 158,126 | 9,175 | ||||
Vinci SA | 80,191 | 8,408 | ||||
1 | Amundi SA | 103,754 | 7,196 | |||
Schneider Electric SE | 30,444 | 4,717 | ||||
88,716 | ||||||
Germany (0.2%) | ||||||
Bayerische Motoren Werke AG | 40,565 | 3,907 | ||||
Hong Kong (0.8%) | ||||||
AIA Group Ltd. | 1,496,200 | 15,536 | ||||
Japan (6.6%) | ||||||
Nippon Telegraph & Telephone Corp. | 760,144 | 21,847 | ||||
Tokio Marine Holdings Inc. | 317,397 | 18,060 | ||||
Isuzu Motors Ltd. | 1,015,714 | 13,737 | ||||
Resona Holdings Inc. | 2,960,800 | 13,242 | ||||
Mitsubishi UFJ Financial Group Inc. | 2,073,322 | 12,728 | ||||
Astellas Pharma Inc. | 726,000 | 12,113 | ||||
Marui Group Co. Ltd. | 529,565 | 10,422 | ||||
Mitsubishi Estate Co. Ltd. | 572,400 | 8,740 | ||||
Honda Motor Co. Ltd. | 270,200 | 8,209 | ||||
Nihon Unisys Ltd. | 268,900 | 7,367 | ||||
126,465 | ||||||
South Korea (1.0%) | ||||||
Samsung Electronics Co. Ltd. | 304,698 | 18,359 |
Shares | Market Value• ($000) | |||||
Spain (1.6%) | ||||||
Iberdrola SA | 1,537,584 | 17,445 | ||||
CaixaBank SA | 4,102,974 | 13,476 | ||||
30,921 | ||||||
Sweden (2.0%) | ||||||
Autoliv Inc. | 202,667 | 17,837 | ||||
Lundin Energy AB | 398,386 | 14,700 | ||||
Alfa Laval AB | 186,365 | 6,044 | ||||
38,581 | ||||||
Switzerland (3.2%) | ||||||
Novartis AG (Registered) | 287,503 | 25,269 | ||||
Nestle SA (Registered) | 144,023 | 18,765 | ||||
Zurich Insurance Group AG | 25,433 | 11,674 | ||||
Julius Baer Group Ltd. | 106,124 | 6,214 | ||||
61,922 | ||||||
Taiwan (1.1%) | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 972,175 | 20,901 | ||||
United Kingdom (4.2%) | ||||||
AstraZeneca plc ADR | 502,274 | 30,578 | ||||
WPP plc | 1,104,928 | 15,541 | ||||
Linde plc | 28,809 | 8,409 | ||||
Prudential plc | 511,593 | 7,734 | ||||
Rotork plc | 1,527,259 | 6,259 | ||||
BAE Systems plc | 534,500 | 5,132 | ||||
Derwent London plc | 89,658 | 3,655 | ||||
Diageo plc | 70,160 | 3,476 | ||||
80,784 | ||||||
United States (37.3%) | ||||||
Johnson & Johnson | 216,237 | 35,586 | ||||
Microsoft Corp. | 117,522 | 35,114 | ||||
United Parcel Service Inc. Class B | 154,005 | 32,406 | ||||
Cisco Systems Inc. | 488,748 | 27,258 | ||||
Comcast Corp. Class A | 530,737 | 24,817 | ||||
Chubb Ltd. | 120,300 | 24,498 | ||||
Northrop Grumman Corp. | 55,312 | 24,456 | ||||
Colgate-Palmolive Co. | 311,909 | 24,001 | ||||
Bank of America Corp. | 516,490 | 22,829 | ||||
JPMorgan Chase & Co. | 158,093 | 22,418 | ||||
TJX Cos. Inc. | 339,086 | 22,414 | ||||
Merck & Co. Inc. | 278,593 | 21,335 | ||||
Visa Inc. Class A | 98,691 | 21,329 | ||||
Mondelez International Inc. Class A | 314,629 | 20,602 | ||||
Baxter International Inc. | 237,205 | 20,155 | ||||
Pioneer Natural Resources Co. | 82,385 | 19,739 | ||||
Duke Energy Corp. | 190,114 | 19,089 | ||||
Texas Instruments Inc. | 111,705 | 18,989 | ||||
Sempra Energy | 127,950 | 18,453 | ||||
Raytheon Technologies Corp. | 178,109 | 18,292 | ||||
* | Alphabet Inc. Class A | 6,679 | 18,041 | |||
* | General Motors Co. | 377,160 | 17,621 | |||
Medtronic plc | 165,263 | 17,351 | ||||
Lockheed Martin Corp. | 39,904 | 17,310 | ||||
American Express Co. | 88,636 | 17,243 |
Shares | Market Value• ($000) | |||||
UnitedHealth Group Inc. | 34,589 | 16,460 | ||||
Eli Lilly & Co. | 62,308 | 15,574 | ||||
Union Pacific Corp. | 60,629 | 14,912 | ||||
PNC Financial Services Group Inc. | 72,356 | 14,417 | ||||
Deere & Co. | 34,420 | 12,392 | ||||
Broadcom Inc. | 17,633 | 10,358 | ||||
General Dynamics Corp. | 40,933 | 9,597 | ||||
American Tower Corp. | 34,308 | 7,783 | ||||
McDonald's Corp. | 31,766 | 7,775 | ||||
KLA Corp. | 21,817 | 7,603 | ||||
Caterpillar Inc. | 35,350 | 6,631 | ||||
PepsiCo Inc. | 37,188 | 6,089 | ||||
Honeywell International Inc. | 30,816 | 5,847 | ||||
Gilead Sciences Inc. | 82,671 | 4,993 | ||||
Marsh & McLennan Cos. Inc. | 30,336 | 4,715 | ||||
Accenture plc Class A | 14,313 | 4,523 | ||||
Intel Corp. | 88,552 | 4,224 | ||||
BlackRock Inc. | 4,689 | 3,488 | ||||
718,727 | ||||||
Total Common Stocks (Cost $953,339) | 1,243,426 | |||||
Coupon | Maturity Date | Face Amount ($000) | ||||
U.S. Government and Agency Obligations (8.2%) | ||||||
2,3 | Fannie Mae Pool | 3.070% | 2/1/25 | 150 | 155 | |
2,3 | Fannie Mae REMICS | 2.000% | 9/25/40 | 52 | 52 | |
2,3 | Fannie Mae REMICS | 2.500% | 5/25/45 | 269 | 266 | |
2,3 | Fannie Mae REMICS | 3.000% | 2/25/49 | 124 | 126 | |
2,3 | Fannie Mae REMICS | 3.500% | 6/25/44–2/25/48 | 423 | 437 | |
2,3 | Freddie Mac REMICS | 1.750% | 9/15/42 | 693 | 682 | |
2,3 | Freddie Mac REMICS | 3.500% | 11/15/40 | 33 | 33 | |
2,3 | Freddie Mac REMICS | 4.000% | 12/15/39–8/15/40 | 610 | 644 | |
2,4 | Ginnie Mae II Pool | 2.000% | 3/15/52 | 1,325 | 1,295 | |
2,4 | Ginnie Mae II Pool | 2.500% | 3/15/52 | 2,100 | 2,098 | |
2 | Ginnie Mae REMICS | 2.750% | 9/20/44 | 95 | 96 | |
2,3,4 | UMBS Pool | 2.000% | 3/25/37–4/25/52 | 12,781 | 12,301 | |
2,3,4 | UMBS Pool | 2.500% | 3/25/37–4/25/52 | 15,366 | 15,234 | |
2,3,4 | UMBS Pool | 3.000% | 3/25/52 | 7,100 | 7,169 | |
United States Treasury Note/Bond | 0.125% | 7/31/23–2/15/24 | 3,790 | 3,706 | ||
5 | United States Treasury Note/Bond | 0.250% | 9/30/23–5/31/25 | 16,275 | 15,863 | |
United States Treasury Note/Bond | 0.375% | 4/15/24–1/31/26 | 2,135 | 2,072 | ||
United States Treasury Note/Bond | 0.500% | 11/30/23–2/28/26 | 2,940 | 2,869 | ||
United States Treasury Note/Bond | 0.625% | 10/15/24–7/31/26 | 8,690 | 8,448 | ||
United States Treasury Note/Bond | 0.750% | 12/31/23–11/15/24 | 5,065 | 4,955 | ||
United States Treasury Note/Bond | 0.875% | 1/31/24–9/30/26 | 1,050 | 1,037 | ||
United States Treasury Note/Bond | 1.000% | 12/15/24 | 6,110 | 6,007 | ||
United States Treasury Note/Bond | 1.125% | 1/15/25–10/31/26 | 9,665 | 9,472 | ||
United States Treasury Note/Bond | 1.250% | 11/30/26–9/30/28 | 29,390 | 28,722 | ||
United States Treasury Note/Bond | 1.375% | 11/15/31 | 2,595 | 2,490 | ||
United States Treasury Note/Bond | 1.500% | 2/15/25–1/31/27 | 3,530 | 3,495 | ||
United States Treasury Note/Bond | 1.750% | 8/15/41 | 7,380 | 6,763 | ||
United States Treasury Note/Bond | 1.875% | 2/15/51–11/15/51 | 5,345 | 4,987 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Note/Bond | 2.000% | 11/15/41–8/15/51 | 15,985 | 15,296 | ||
United States Treasury Note/Bond | 2.250% | 2/15/52 | 305 | 311 | ||
United States Treasury Note/Bond | 2.375% | 5/15/51 | 40 | 42 | ||
Total U.S. Government and Agency Obligations (Cost $159,838) | 157,123 | |||||
Asset-Backed/Commercial Mortgage-Backed Securities (1.3%) | ||||||
Bermuda (0.0%) | ||||||
1,2 | START Ireland Series 2019-1 | 4.089% | 3/15/44 | 145 | 143 | |
Cayman Islands (0.5%) | ||||||
1,2,6 | BlueMountain CLO XXXII Ltd. Series 2021-32A, 3M USD LIBOR + 1.170% | 1.411% | 10/15/34 | 1,900 | 1,898 | |
1,2,6 | Columbia Cent CLO 31 Ltd. Series 2021-31A, 3M USD LIBOR + 1.550% | 1.804% | 4/20/34 | 575 | 567 | |
1,2 | Horizon Aircraft Finance II Ltd. Series 2019-1 | 3.721% | 7/15/39 | 218 | 212 | |
1,2,6 | KKR CLO 16 Ltd., 3M USD LIBOR + 1.210% | 1.464% | 10/20/34 | 360 | 360 | |
1,2,6 | Madison Park Funding XI Ltd. Series 2013-11A, 3M USD LIBOR + 1.450% | 1.709% | 7/23/29 | 300 | 298 | |
1,2,6 | Madison Park Funding XXX Ltd. Series 2018-30A, 3M USD LIBOR + 0.750% | 0.991% | 4/15/29 | 1,389 | 1,380 | |
1,2,6 | Magnetite VII Ltd. Series 2012-7A, 3M USD LIBOR + 0.800% | 1.041% | 1/15/28 | 1,306 | 1,305 | |
1,2,6 | OHA Credit Funding 3 Ltd. Series 2019-3A, 3M USD LIBOR + 1.140% | 1.394% | 7/2/35 | 1,335 | 1,333 | |
1,2,6 | Rockland Park CLO Ltd. Series 2021-1A, 3M USD LIBOR + 1.120% | 1.374% | 4/20/34 | 1,600 | 1,599 | |
1,2,6 | RR 18 Ltd. Series 2021-18A, 3M USD LIBOR + 1.600% | 1.841% | 10/15/34 | 600 | 596 | |
1,2,6 | Sound Point CLO XXXI Ltd. Series 2021-3A, 3M USD LIBOR + 1.650% | 1.781% | 10/25/34 | 395 | 390 | |
1,2,6 | Symphony CLO XXVIII Ltd. Series 2021-28A, 3M USD LIBOR + 1.650% | 1.738% | 10/23/34 | 350 | 350 | |
10,288 | ||||||
United States (0.8%) | ||||||
1,2 | Aaset Trust Series 2019-1 | 3.844% | 5/15/39 | 181 | 160 | |
1,2 | Aligned Data Centers Issuer LLC Series 2021-1A | 1.937% | 8/15/46 | 1,260 | 1,207 | |
1,2 | Angel Oak Mortgage Trust I LLC Series 2018-3 | 3.649% | 9/25/48 | 53 | 53 | |
1,2,6 | BX Trust Series 2021-ARIA, 1M USD LIBOR + 1.297% | 1.488% | 10/15/36 | 1,290 | 1,264 | |
1,2,6 | BX Trust Series 2021-LGCY, 1M USD LIBOR + 0.506% | 0.697% | 10/15/23 | 2,930 | 2,818 | |
1,2 | Castlelake Aircraft Structured Trust Series 2019-1A | 3.967% | 4/15/39 | 189 | 187 | |
1,2 | Connecticut Avenue Securities Trust Series 2021-R01 | 1.599% | 10/25/41 | 250 | 250 | |
1,2 | Domino's Pizza Master Issuer LLC Series 2021-1A | 3.151% | 4/25/51 | 729 | 729 | |
2,3 | Fannie Mae-Aces Series 2021-M2S | 2.386% | 10/25/36 | 649 | 642 | |
2 | Ford Credit Auto Lease Trust Series 2021-A | 0.780% | 9/15/25 | 280 | 275 | |
2,3,6 | Freddie Mac STACR Debt Notes Series 2016-DNA3, 1M USD LIBOR + 5.000% | 5.187% | 12/25/28 | 280 | 295 | |
2,3,6 | Freddie Mac STACR Debt Notes Series 2017-DNA3, 1M USD LIBOR + 2.500% | 2.687% | 3/25/30 | 861 | 883 | |
1,2,3 | Freddie Mac STACR REMICS Trust Series 2020-DNA5 | 2.849% | 10/25/50 | 591 | 595 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1,2,3 | Freddie Mac STACR REMICS Trust Series 2021-DNA1 | 0.699% | 1/25/51 | 57 | 57 | |
1,2 | Home Partners of America Trust Series 2021-2 | 2.302% | 12/17/26 | 1,211 | 1,158 | |
1,2 | New Economy Assets Phase 1 Sponsor LLC Series 2021-1 | 2.410% | 10/20/61 | 425 | 414 | |
2 | Seasoned Credit Risk Transfer Trust Series 2019-3 | 3.500% | 10/25/58 | 159 | 161 | |
1,2,6 | SREIT Trust Series 2021-MFP, 1M USD LIBOR + 1.080% | 1.271% | 11/15/38 | 1,550 | 1,519 | |
1,2 | Taco Bell Funding LLC Series 2021-1A | 1.946% | 8/25/51 | 589 | 564 | |
1,2 | Taco Bell Funding LLC Series 2021-1A | 2.294% | 8/25/51 | 539 | 513 | |
1,2 | Towd Point Mortgage Trust Series 2018-1 | 3.000% | 1/25/58 | 108 | 109 | |
1,2 | Vantage Data Centers Issuer LLC Series 2019-1A | 3.188% | 7/15/44 | 190 | 191 | |
1,2 | Vantage Data Centers Issuer LLC Series 2020-1A | 1.645% | 9/15/45 | 810 | 774 | |
14,818 | ||||||
Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $25,655) | 25,249 | |||||
Corporate Bonds (18.4%) | ||||||
Australia (0.3%) | ||||||
1 | Commonwealth Bank of Australia | 2.688% | 3/11/31 | 3,150 | 2,943 | |
1 | Macquarie Group Ltd. | 2.871% | 1/14/33 | 3,380 | 3,197 | |
6,140 | ||||||
Austria (0.1%) | ||||||
1 | JAB Holdings BV | 2.200% | 11/23/30 | 430 | 397 | |
1 | JAB Holdings BV | 3.750% | 5/28/51 | 805 | 769 | |
1,166 | ||||||
Belgium (0.1%) | ||||||
Anheuser-Busch InBev Worldwide Inc. | 4.375% | 4/15/38 | 670 | 719 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.600% | 4/15/48 | 170 | 187 | ||
906 | ||||||
Canada (0.3%) | ||||||
7 | Bank of Montreal | 2.850% | 3/6/24 | 3,185 | 2,538 | |
2,7 | Bell Telephone Co. of Canada or Bell Canada | 3.350% | 3/22/23 | 975 | 779 | |
Canadian Pacific Railway Co. | 2.450% | 12/2/31 | 1,040 | 998 | ||
Fortis Inc. | 3.055% | 10/4/26 | 775 | 783 | ||
Nutrien Ltd. | 4.125% | 3/15/35 | 650 | 690 | ||
TransCanada PipeLines Ltd. | 4.875% | 1/15/26 | 400 | 433 | ||
6,221 | ||||||
Denmark (0.3%) | ||||||
8 | Danske Bank A/S | 0.500% | 8/27/25 | 2,450 | 2,717 | |
1 | Danske Bank A/S | 1.621% | 9/11/26 | 1,320 | 1,262 | |
2,9 | Danske Bank A/S | 2.250% | 1/14/28 | 1,440 | 1,889 | |
5,868 | ||||||
France (1.1%) | ||||||
2,8 | Airbus SE | 2.375% | 4/7/32 | 510 | 618 | |
2,8 | Airbus SE | 2.375% | 6/9/40 | 1,095 | 1,251 | |
2,8 | AXA SA | 5.125% | 7/4/43 | 600 | 711 | |
1 | BNP Paribas SA | 2.819% | 11/19/25 | 470 | 470 | |
1 | BNP Paribas SA | 2.219% | 6/9/26 | 1,095 | 1,073 | |
2,8 | BNP Paribas SA | 0.125% | 9/4/26 | 600 | 642 | |
2,8 | BNP Paribas SA | 2.125% | 1/23/27 | 1,800 | 2,082 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | BNP Paribas SA | 2.591% | 1/20/28 | 2,065 | 2,009 | |
1 | BNP Paribas SA | 2.159% | 9/15/29 | 1,800 | 1,675 | |
2,8 | BPCE SA | 1.125% | 1/18/23 | 700 | 793 | |
1 | BPCE SA | 3.250% | 1/11/28 | 525 | 537 | |
1 | BPCE SA | 2.277% | 1/20/32 | 1,100 | 999 | |
1 | Danone SA | 2.947% | 11/2/26 | 555 | 566 | |
2,9 | Electricite de France SA | 5.500% | 10/17/41 | 200 | 336 | |
2,8 | Engie SA | 0.000% | 3/4/27 | 1,300 | 1,385 | |
2,8 | Orange SA | 1.000% | 5/12/25 | 1,300 | 1,478 | |
2,8 | Orange SA | 1.625% | 4/7/32 | 800 | 917 | |
2,8 | RCI Banque SA | 0.750% | 9/26/22 | 500 | 562 | |
2,8 | RCI Banque SA | 1.375% | 3/8/24 | 1,400 | 1,596 | |
2,8 | RCI Banque SA | 1.625% | 4/11/25 | 220 | 252 | |
8 | Societe Generale SFH SA | 0.750% | 1/29/27 | 1,500 | 1,706 | |
21,658 | ||||||
Germany (0.6%) | ||||||
1 | Bayer US Finance II LLC | 4.250% | 12/15/25 | 1,000 | 1,048 | |
1 | Bayer US Finance LLC | 3.375% | 10/8/24 | 770 | 785 | |
2,9 | E.ON International Finance BV | 4.750% | 1/31/34 | 200 | 315 | |
2,9 | E.ON International Finance BV | 5.875% | 10/30/37 | 250 | 446 | |
2,8 | Vantage Towers AG | 0.375% | 3/31/27 | 100 | 106 | |
2,8 | Vantage Towers AG | 0.750% | 3/31/30 | 1,300 | 1,320 | |
2,9 | Volkswagen Financial Services NV | 0.875% | 2/20/25 | 700 | 898 | |
2,8 | Volkswagen Leasing GmbH | 2.625% | 1/15/24 | 425 | 497 | |
2,8 | Volkswagen Leasing GmbH | 1.375% | 1/20/25 | 3,100 | 3,537 | |
2,8 | Volkswagen Leasing GmbH | 0.625% | 7/19/29 | 825 | 859 | |
8 | Wintershall Dea Finance BV | 1.823% | 9/25/31 | 2,400 | 2,216 | |
12,027 | ||||||
Hong Kong (0.1%) | ||||||
2,8 | AIA Group Ltd. | 0.880% | 9/9/33 | 780 | 814 | |
Ireland (0.5%) | ||||||
AerCap Ireland Capital DAC | 3.000% | 10/29/28 | 1,620 | 1,560 | ||
AerCap Ireland Capital DAC | 3.300% | 1/30/32 | 865 | 821 | ||
AerCap Ireland Capital DAC | 3.400% | 10/29/33 | 820 | 774 | ||
1 | Avolon Holdings Funding Ltd. | 2.125% | 2/21/26 | 939 | 890 | |
1 | Avolon Holdings Funding Ltd. | 4.375% | 5/1/26 | 646 | 665 | |
1 | Avolon Holdings Funding Ltd. | 2.528% | 11/18/27 | 1,770 | 1,661 | |
1 | Avolon Holdings Funding Ltd. | 2.750% | 2/21/28 | 655 | 617 | |
8 | CRH Finance DAC | 3.125% | 4/3/23 | 1,634 | 1,893 | |
2,8 | CRH SMW Finance DAC | 1.250% | 11/5/26 | 1,200 | 1,363 | |
10,244 | ||||||
Italy (0.3%) | ||||||
2,8 | Enel Finance International NV | 0.500% | 6/17/30 | 2,875 | 2,931 | |
1 | Enel Finance International NV | 4.750% | 5/25/47 | 1,030 | 1,132 | |
2,8 | Terna - Rete Elettrica Nazionale | 0.375% | 6/23/29 | 1,400 | 1,467 | |
1 | UniCredit SpA | 1.982% | 6/3/27 | 930 | 866 | |
6,396 | ||||||
Japan (0.1%) | ||||||
1 | NTT Finance Corp. | 1.162% | 4/3/26 | 1,180 | 1,123 | |
Takeda Pharmaceutical Co. Ltd. | 3.025% | 7/9/40 | 200 | 181 | ||
1,304 | ||||||
Kuwait (0.2%) | ||||||
1 | NBK SPC Ltd. | 1.625% | 9/15/27 | 3,000 | 2,821 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Mexico (0.0%) | ||||||
America Movil SAB de CV | 3.625% | 4/22/29 | 275 | 284 | ||
America Movil SAB de CV | 6.375% | 3/1/35 | 350 | 453 | ||
737 | ||||||
Netherlands (0.5%) | ||||||
1 | Cooperatieve Rabobank UA | 1.106% | 2/24/27 | 1,090 | 1,030 | |
2,9 | Cooperatieve Rabobank UA | 4.625% | 5/23/29 | 100 | 147 | |
2,8 | Cooperatieve Rabobank UA | 0.010% | 7/2/30 | 1,900 | 2,006 | |
8 | ING Groep NV | 0.250% | 2/18/29 | 1,100 | 1,136 | |
8 | ING Groep NV | 0.250% | 2/1/30 | 3,600 | 3,663 | |
Shell International Finance BV | 4.000% | 5/10/46 | 300 | 318 | ||
Shell International Finance BV | 3.000% | 11/26/51 | 1,215 | 1,106 | ||
9,406 | ||||||
Norway (0.2%) | ||||||
2,8 | Aker BP ASA | 1.125% | 5/12/29 | 1,950 | 2,051 | |
1 | Aker BP ASA | 4.000% | 1/15/31 | 1,090 | 1,120 | |
3,171 | ||||||
Saudi Arabia (0.1%) | ||||||
1 | EIG Pearl Holdings Sarl | 3.545% | 8/31/36 | 1,825 | 1,785 | |
South Korea (0.0%) | ||||||
1 | SK Telecom Co. Ltd. | 3.750% | 4/16/23 | 200 | 204 | |
Spain (0.1%) | ||||||
2,8 | Iberdrola Finanzas SA | 1.250% | 10/28/26 | 1,300 | 1,498 | |
Telefonica Emisiones SA | 4.665% | 3/6/38 | 1,055 | 1,095 | ||
2,593 | ||||||
Switzerland (0.7%) | ||||||
1 | Alcon Finance Corp. | 3.000% | 9/23/29 | 3,805 | 3,770 | |
2,8 | Credit Suisse Group AG | 1.250% | 7/17/25 | 675 | 757 | |
1 | Credit Suisse Group AG | 3.091% | 5/14/32 | 4,565 | 4,327 | |
1 | UBS Group AG | 1.494% | 8/10/27 | 1,495 | 1,413 | |
8 | UBS Group AG | 0.250% | 2/24/28 | 1,600 | 1,675 | |
1 | UBS Group AG | 2.746% | 2/11/33 | 2,195 | 2,094 | |
14,036 | ||||||
United Arab Emirates (0.3%) | ||||||
1 | DAE Funding LLC | 1.550% | 8/1/24 | 1,915 | 1,843 | |
1 | Galaxy Pipeline Assets Bidco Ltd. | 2.160% | 3/31/34 | 4,560 | 4,241 | |
6,084 | ||||||
United Kingdom (2.1%) | ||||||
AstraZeneca plc | 4.000% | 1/17/29 | 755 | 817 | ||
2,8 | Barclays plc | 1.125% | 3/22/31 | 2,075 | 2,217 | |
8 | Barclays plc | 1.106% | 5/12/32 | 1,850 | 1,914 | |
Barclays plc | 2.894% | 11/24/32 | 1,350 | 1,279 | ||
Barclays plc | 3.330% | 11/24/42 | 1,130 | 1,032 | ||
BAT Capital Corp. | 3.557% | 8/15/27 | 1,240 | 1,252 | ||
2,8 | BP Capital Markets BV | 0.933% | 12/4/40 | 2,355 | 2,014 | |
2,7 | BP Capital Markets plc | 3.470% | 5/15/25 | 1,350 | 1,092 | |
1 | CK Hutchison International 17 II Ltd. | 2.750% | 3/29/23 | 1,275 | 1,290 | |
2,9 | Heathrow Funding Ltd. | 2.750% | 10/13/29 | 2,600 | 3,428 | |
2,9 | Heathrow Funding Ltd. | 2.750% | 8/9/49 | 250 | 291 | |
2,9 | HSBC Holdings plc | 2.256% | 11/13/26 | 600 | 790 | |
HSBC Holdings plc | 1.589% | 5/24/27 | 580 | 547 | ||
9 | HSBC Holdings plc | 1.750% | 7/24/27 | 750 | 962 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | HSBC Holdings plc | 4.041% | 3/13/28 | 1,160 | 1,202 | |
HSBC Holdings plc | 2.206% | 8/17/29 | 1,565 | 1,461 | ||
HSBC Holdings plc | 2.804% | 5/24/32 | 935 | 883 | ||
HSBC Holdings plc | 2.871% | 11/22/32 | 2,270 | 2,154 | ||
6 | HSBC Holdings plc, 3M USD LIBOR + 1.000% | 1.488% | 5/18/24 | 245 | 247 | |
2,8 | NatWest Group plc | 1.750% | 3/2/26 | 3,125 | 3,550 | |
2,8 | NatWest Group plc | 0.780% | 2/26/30 | 800 | 826 | |
9 | NatWest Group plc | 3.622% | 8/14/30 | 2,500 | 3,377 | |
2,8 | NatWest Group plc | 1.043% | 9/14/32 | 925 | 954 | |
Santander UK Group Holdings plc | 1.089% | 3/15/25 | 3,210 | 3,114 | ||
8 | Segro Capital Sarl | 0.500% | 9/22/31 | 950 | 956 | |
1 | Sky Ltd. | 3.125% | 11/26/22 | 725 | 735 | |
1 | Standard Chartered plc | 0.991% | 1/12/25 | 815 | 791 | |
Vodafone Group plc | 5.250% | 5/30/48 | 400 | 465 | ||
39,640 | ||||||
United States (10.4%) | ||||||
AbbVie Inc. | 3.800% | 3/15/25 | 1,060 | 1,101 | ||
AbbVie Inc. | 4.050% | 11/21/39 | 275 | 289 | ||
2 | Alabama Power Co. | 4.300% | 7/15/48 | 255 | 276 | |
Altria Group Inc. | 3.875% | 9/16/46 | 400 | 344 | ||
Amazon.com Inc. | 4.800% | 12/5/34 | 300 | 361 | ||
American Electric Power Co. Inc. | 3.200% | 11/13/27 | 950 | 970 | ||
9 | American Honda Finance Corp. | 0.750% | 11/25/26 | 1,855 | 2,347 | |
8 | American International Group Inc. | 1.500% | 6/8/23 | 975 | 1,105 | |
American International Group Inc. | 4.250% | 3/15/29 | 1,072 | 1,157 | ||
American International Group Inc. | 3.400% | 6/30/30 | 785 | 807 | ||
American International Group Inc. | 4.500% | 7/16/44 | 73 | 81 | ||
American International Group Inc. | 4.750% | 4/1/48 | 45 | 52 | ||
American International Group Inc. | 4.375% | 6/30/50 | 570 | 634 | ||
American Tower Corp. | 5.000% | 2/15/24 | 380 | 400 | ||
American Tower Corp. | 4.400% | 2/15/26 | 300 | 318 | ||
8 | American Tower Corp. | 0.450% | 1/15/27 | 1,220 | 1,290 | |
1 | American Transmission Systems Inc. | 2.650% | 1/15/32 | 1,070 | 1,026 | |
Amgen Inc. | 4.200% | 2/22/52 | 300 | 315 | ||
Anthem Inc. | 2.250% | 5/15/30 | 1,010 | 957 | ||
8 | AT&T Inc. | 2.050% | 5/19/32 | 475 | 550 | |
8 | AT&T Inc. | 3.150% | 9/4/36 | 575 | 712 | |
8 | AT&T Inc. | 2.600% | 5/19/38 | 425 | 498 | |
AT&T Inc. | 3.500% | 6/1/41 | 1,245 | 1,184 | ||
AT&T Inc. | 3.300% | 2/1/52 | 155 | 138 | ||
AT&T Inc. | 3.500% | 9/15/53 | 2,620 | 2,401 | ||
1 | Athene Global Funding | 2.500% | 3/24/28 | 2,555 | 2,459 | |
2 | Bank of America Corp. | 3.300% | 1/11/23 | 570 | 579 | |
Bank of America Corp. | 1.734% | 7/22/27 | 1,325 | 1,266 | ||
2 | Bank of America Corp. | 3.593% | 7/21/28 | 1,885 | 1,946 | |
2 | Bank of America Corp. | 4.271% | 7/23/29 | 1,640 | 1,748 | |
Bank of America Corp. | 2.687% | 4/22/32 | 1,320 | 1,269 | ||
Bank of America Corp. | 2.482% | 9/21/36 | 3,585 | 3,251 | ||
2,6 | Bank of New York Mellon Corp., 3M USD LIBOR + 1.050% | 1.349% | 10/30/23 | 415 | 417 | |
Boeing Co. | 1.433% | 2/4/24 | 805 | 792 | ||
Boeing Co. | 2.196% | 2/4/26 | 1,145 | 1,109 | ||
Boeing Co. | 3.250% | 3/1/28 | 632 | 633 | ||
Boeing Co. | 3.450% | 11/1/28 | 230 | 232 | ||
Boeing Co. | 3.625% | 2/1/31 | 365 | 368 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | Bon Secours Mercy Health Inc. | 2.095% | 6/1/31 | 415 | 385 | |
8 | BorgWarner Inc. | 1.000% | 5/19/31 | 875 | 886 | |
1 | Boston Gas Co. | 3.001% | 8/1/29 | 130 | 129 | |
Boston Scientific Corp. | 4.000% | 3/1/29 | 60 | 64 | ||
Boston Scientific Corp. | 4.550% | 3/1/39 | 600 | 664 | ||
Brandywine Operating Partnership LP | 3.950% | 11/15/27 | 890 | 929 | ||
Brixmor Operating Partnership LP | 2.500% | 8/16/31 | 805 | 742 | ||
Broadcom Inc. | 4.700% | 4/15/25 | 1,510 | 1,605 | ||
1 | Broadcom Inc. | 2.600% | 2/15/33 | 3,355 | 3,058 | |
1 | Broadcom Inc. | 3.419% | 4/15/33 | 1,695 | 1,655 | |
1 | Brooklyn Union Gas Co. | 4.273% | 3/15/48 | 965 | 969 | |
1 | Cargill Inc. | 4.760% | 11/23/45 | 340 | 409 | |
Carrier Global Corp. | 2.722% | 2/15/30 | 648 | 630 | ||
Carrier Global Corp. | 3.377% | 4/5/40 | 250 | 235 | ||
Charter Communications Operating LLC | 5.050% | 3/30/29 | 595 | 649 | ||
Charter Communications Operating LLC | 2.300% | 2/1/32 | 1,325 | 1,178 | ||
Charter Communications Operating LLC | 6.384% | 10/23/35 | 355 | 425 | ||
Charter Communications Operating LLC | 4.800% | 3/1/50 | 118 | 115 | ||
Charter Communications Operating LLC | 3.700% | 4/1/51 | 610 | 513 | ||
Cigna Corp. | 4.375% | 10/15/28 | 420 | 455 | ||
Cigna Corp. | 2.400% | 3/15/30 | 310 | 295 | ||
Citigroup Inc. | 4.600% | 3/9/26 | 535 | 571 | ||
Cleco Corporate Holdings LLC | 3.743% | 5/1/26 | 475 | 494 | ||
Cleco Corporate Holdings LLC | 3.375% | 9/15/29 | 325 | 321 | ||
1 | CNO Global Funding | 2.650% | 1/6/29 | 1,975 | 1,896 | |
Comcast Corp. | 3.950% | 10/15/25 | 250 | 264 | ||
Comcast Corp. | 6.500% | 11/15/35 | 178 | 239 | ||
Comcast Corp. | 4.000% | 3/1/48 | 40 | 42 | ||
Comcast Corp. | 3.999% | 11/1/49 | 120 | 125 | ||
1 | Comcast Corp. | 2.887% | 11/1/51 | 1,417 | 1,229 | |
Comcast Corp. | 4.049% | 11/1/52 | 11 | 12 | ||
1 | Comcast Corp. | 2.937% | 11/1/56 | 190 | 161 | |
Comcast Corp. | 2.650% | 8/15/62 | 25 | 20 | ||
1 | Comcast Corp. | 2.987% | 11/1/63 | 11 | 9 | |
CommonSpirit Health | 4.200% | 8/1/23 | 770 | 792 | ||
CommonSpirit Health | 3.347% | 10/1/29 | 355 | 359 | ||
CommonSpirit Health | 2.782% | 10/1/30 | 684 | 665 | ||
CommonSpirit Health | 4.187% | 10/1/49 | 775 | 817 | ||
CommonSpirit Health | 3.910% | 10/1/50 | 60 | 61 | ||
Commonwealth Edison Co. | 3.650% | 6/15/46 | 35 | 35 | ||
Commonwealth Edison Co. | 4.000% | 3/1/48 | 245 | 262 | ||
Conagra Brands Inc. | 4.600% | 11/1/25 | 200 | 213 | ||
Conagra Brands Inc. | 1.375% | 11/1/27 | 640 | 588 | ||
2 | Consolidated Edison Co. of New York Inc. | 6.300% | 8/15/37 | 75 | 97 | |
Consolidated Edison Co. of New York Inc. | 3.200% | 12/1/51 | 590 | 527 | ||
Consolidated Edison Co. of New York Inc. | 4.625% | 12/1/54 | 290 | 321 | ||
Constellation Brands Inc. | 2.875% | 5/1/30 | 115 | 112 | ||
1 | Cox Communications Inc. | 3.500% | 8/15/27 | 2,665 | 2,758 | |
1 | Cox Communications Inc. | 4.800% | 2/1/35 | 100 | 110 | |
Crown Castle International Corp. | 2.100% | 4/1/31 | 2,475 | 2,229 | ||
Crown Castle International Corp. | 2.900% | 4/1/41 | 420 | 361 | ||
CSX Corp. | 4.300% | 3/1/48 | 495 | 543 | ||
CubeSmart LP | 2.250% | 12/15/28 | 995 | 946 | ||
CVS Health Corp. | 2.875% | 6/1/26 | 1,455 | 1,472 | ||
CVS Health Corp. | 4.300% | 3/25/28 | 113 | 122 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
CVS Health Corp. | 4.125% | 4/1/40 | 235 | 244 | ||
CVS Health Corp. | 5.050% | 3/25/48 | 125 | 146 | ||
Dignity Health | 3.812% | 11/1/24 | 594 | 613 | ||
Dignity Health | 4.500% | 11/1/42 | 166 | 182 | ||
Discovery Communications LLC | 3.950% | 3/20/28 | 424 | 438 | ||
Discovery Communications LLC | 4.125% | 5/15/29 | 186 | 194 | ||
Discovery Communications LLC | 3.625% | 5/15/30 | 995 | 999 | ||
Dominion Energy South Carolina Inc. | 6.625% | 2/1/32 | 156 | 201 | ||
Dominion Energy South Carolina Inc. | 5.300% | 5/15/33 | 113 | 136 | ||
Dominion Energy South Carolina Inc. | 5.450% | 2/1/41 | 300 | 368 | ||
Dominion Energy South Carolina Inc. | 4.600% | 6/15/43 | 230 | 257 | ||
Duke Energy Corp. | 2.550% | 6/15/31 | 900 | 844 | ||
1 | Eastern Gas Transmission & Storage Inc. | 4.600% | 12/15/44 | 660 | 714 | |
Energy Transfer LP | 4.900% | 3/15/35 | 1,075 | 1,130 | ||
EPR Properties | 4.750% | 12/15/26 | 215 | 222 | ||
EPR Properties | 4.950% | 4/15/28 | 215 | 222 | ||
EPR Properties | 3.750% | 8/15/29 | 1,365 | 1,315 | ||
EPR Properties | 3.600% | 11/15/31 | 2,005 | 1,881 | ||
1 | Equitable Financial Life Global Funding | 1.400% | 7/7/25 | 150 | 145 | |
1 | Equitable Financial Life Global Funding | 1.300% | 7/12/26 | 1,020 | 969 | |
1 | Equitable Financial Life Global Funding | 1.400% | 8/27/27 | 825 | 774 | |
1 | ERAC USA Finance LLC | 3.300% | 12/1/26 | 300 | 309 | |
1 | ERAC USA Finance LLC | 4.500% | 2/15/45 | 455 | 500 | |
Evergy Kansas Central Inc. | 3.250% | 9/1/49 | 235 | 218 | ||
2 | Evergy Metro Inc. | 2.250% | 6/1/30 | 245 | 235 | |
Exxon Mobil Corp. | 2.275% | 8/16/26 | 1,075 | 1,080 | ||
Exxon Mobil Corp. | 2.610% | 10/15/30 | 190 | 188 | ||
Fifth Third Bancorp | 2.550% | 5/5/27 | 555 | 554 | ||
Fiserv Inc. | 3.200% | 7/1/26 | 355 | 363 | ||
8 | General Mills Inc. | 0.450% | 1/15/26 | 1,275 | 1,410 | |
General Motors Co. | 4.200% | 10/1/27 | 475 | 501 | ||
General Motors Co. | 5.000% | 10/1/28 | 935 | 1,020 | ||
1 | Genting New York LLC | 3.300% | 2/15/26 | 1,668 | 1,605 | |
Georgia Power Co. | 4.300% | 3/15/42 | 860 | 898 | ||
Gilead Sciences Inc. | 2.800% | 10/1/50 | 2,060 | 1,743 | ||
2 | Goldman Sachs Group Inc. | 3.272% | 9/29/25 | 1,375 | 1,400 | |
Goldman Sachs Group Inc. | 1.431% | 3/9/27 | 3,610 | 3,413 | ||
Goldman Sachs Group Inc. | 2.615% | 4/22/32 | 885 | 837 | ||
Goldman Sachs Group Inc. | 2.383% | 7/21/32 | 960 | 890 | ||
Goldman Sachs Group Inc. | 2.650% | 10/21/32 | 2,075 | 1,968 | ||
1 | Gray Oak Pipeline LLC | 2.600% | 10/15/25 | 436 | 432 | |
1 | Gray Oak Pipeline LLC | 3.450% | 10/15/27 | 70 | 71 | |
HCA Inc. | 5.250% | 6/15/49 | 575 | 654 | ||
Healthpeak Properties Inc. | 3.500% | 7/15/29 | 335 | 347 | ||
Hess Corp. | 7.300% | 8/15/31 | 1,120 | 1,426 | ||
Hess Corp. | 5.600% | 2/15/41 | 1,780 | 2,051 | ||
1 | Hyundai Capital America | 0.800% | 4/3/23 | 1,385 | 1,369 | |
Intercontinental Exchange Inc. | 1.850% | 9/15/32 | 1,425 | 1,274 | ||
International Business Machines Corp. | 3.300% | 5/15/26 | 550 | 573 | ||
International Paper Co. | 4.350% | 8/15/48 | 222 | 242 | ||
2 | John Deere Capital Corp. | 3.450% | 3/13/25 | 985 | 1,026 | |
2 | Johnson Controls International plc | 4.950% | 7/2/64 | 692 | 798 | |
JPMorgan Chase & Co. | 2.580% | 4/22/32 | 1,910 | 1,830 | ||
JPMorgan Chase & Co. | 2.545% | 11/8/32 | 1,495 | 1,428 | ||
2 | JPMorgan Chase & Co. | 3.964% | 11/15/48 | 975 | 1,034 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | Kaiser Foundation Hospitals | 2.810% | 6/1/41 | 1,200 | 1,108 | |
Kaiser Foundation Hospitals | 4.875% | 4/1/42 | 45 | 54 | ||
1 | KeySpan Gas East Corp. | 2.742% | 8/15/26 | 400 | 398 | |
Kroger Co. | 4.450% | 2/1/47 | 330 | 359 | ||
Kroger Co. | 5.400% | 1/15/49 | 290 | 360 | ||
1 | Kyndryl Holdings Inc. | 3.150% | 10/15/31 | 2,845 | 2,583 | |
Lowe's Cos. Inc. | 1.300% | 4/15/28 | 1,845 | 1,702 | ||
Marathon Oil Corp. | 6.800% | 3/15/32 | 1,000 | 1,230 | ||
Marathon Oil Corp. | 6.600% | 10/1/37 | 1,000 | 1,259 | ||
Marsh & McLennan Cos. Inc. | 4.375% | 3/15/29 | 1,010 | 1,102 | ||
Marvell Technology Inc. | 2.950% | 4/15/31 | 1,130 | 1,091 | ||
1 | Massachusetts Mutual Life Insurance Co. | 3.375% | 4/15/50 | 550 | 517 | |
McCormick & Co. Inc. | 2.500% | 4/15/30 | 180 | 173 | ||
Memorial Sloan-Kettering Cancer Center | 4.125% | 7/1/52 | 150 | 172 | ||
Merck & Co. Inc. | 3.400% | 3/7/29 | 545 | 574 | ||
2 | Mercy Health | 3.555% | 8/1/27 | 410 | 421 | |
2 | Mercy Health | 4.302% | 7/1/28 | 140 | 151 | |
Microchip Technology Inc. | 0.972% | 2/15/24 | 1,630 | 1,589 | ||
Microsoft Corp. | 2.921% | 3/17/52 | 1,125 | 1,075 | ||
MidAmerican Energy Co. | 4.250% | 5/1/46 | 10 | 11 | ||
1 | Mid-Atlantic Interstate Transmission LLC | 4.100% | 5/15/28 | 1,385 | 1,470 | |
2,7 | Molson Coors International LP | 2.840% | 7/15/23 | 1,875 | 1,488 | |
8 | Mondelez International Inc. | 0.250% | 3/17/28 | 975 | 1,036 | |
2 | Morgan Stanley | 3.125% | 7/27/26 | 1,850 | 1,885 | |
2 | Morgan Stanley | 3.772% | 1/24/29 | 570 | 592 | |
8 | Morgan Stanley | 0.497% | 2/7/31 | 1,050 | 1,067 | |
2 | Morgan Stanley | 2.511% | 10/20/32 | 1,055 | 997 | |
Morgan Stanley | 2.484% | 9/16/36 | 3,580 | 3,251 | ||
National Retail Properties Inc. | 3.900% | 6/15/24 | 805 | 833 | ||
NextEra Energy Capital Holdings Inc. | 1.900% | 6/15/28 | 1,120 | 1,065 | ||
1 | Niagara Mohawk Power Corp. | 1.960% | 6/27/30 | 985 | 912 | |
Norfolk Southern Corp. | 2.550% | 11/1/29 | 1,165 | 1,153 | ||
1 | Northwestern Mutual Life Insurance Co. | 3.850% | 9/30/47 | 230 | 231 | |
1 | Northwestern Mutual Life Insurance Co. | 3.625% | 9/30/59 | 36 | 34 | |
NVIDIA Corp. | 3.500% | 4/1/40 | 445 | 457 | ||
2 | Ochsner LSU Health System of North Louisiana | 2.510% | 5/15/31 | 925 | 853 | |
1 | Oglethorpe Power Corp. | 6.191% | 1/1/31 | 210 | 247 | |
Oglethorpe Power Corp. | 5.050% | 10/1/48 | 161 | 185 | ||
Oracle Corp. | 3.400% | 7/8/24 | 575 | 589 | ||
Oracle Corp. | 3.600% | 4/1/50 | 1,340 | 1,164 | ||
Oracle Corp. | 3.950% | 3/25/51 | 1,900 | 1,743 | ||
Oracle Corp. | 3.850% | 4/1/60 | 225 | 194 | ||
PacifiCorp | 2.700% | 9/15/30 | 205 | 202 | ||
1 | Pennsylvania Electric Co. | 3.600% | 6/1/29 | 208 | 215 | |
1 | Penske Truck Leasing Co. LP | 4.250% | 1/17/23 | 1,405 | 1,434 | |
1 | Penske Truck Leasing Co. LP | 2.700% | 11/1/24 | 170 | 171 | |
1 | Penske Truck Leasing Co. LP | 3.950% | 3/10/25 | 1,120 | 1,164 | |
1 | Penske Truck Leasing Co. LP | 4.000% | 7/15/25 | 180 | 187 | |
Pfizer Inc. | 1.700% | 5/28/30 | 275 | 256 | ||
2 | PNC Bank NA | 3.250% | 1/22/28 | 910 | 942 | |
2 | Providence St. Joseph Health Obligated Group | 3.930% | 10/1/48 | 225 | 239 | |
8 | Public Storage | 0.500% | 9/9/30 | 1,035 | 1,034 | |
Raytheon Technologies Corp. | 3.950% | 8/16/25 | 285 | 300 | ||
Raytheon Technologies Corp. | 4.450% | 11/16/38 | 725 | 809 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Realty Income Corp. | 3.400% | 1/15/28 | 535 | 552 | ||
Realty Income Corp. | 2.200% | 6/15/28 | 285 | 276 | ||
Realty Income Corp. | 3.100% | 12/15/29 | 830 | 837 | ||
Realty Income Corp. | 2.850% | 12/15/32 | 120 | 117 | ||
9 | Realty Income Corp. | 1.750% | 7/13/33 | 1,075 | 1,293 | |
9 | Realty Income Corp. | 2.500% | 1/14/42 | 465 | 567 | |
Royalty Pharma plc | 3.300% | 9/2/40 | 315 | 279 | ||
Royalty Pharma plc | 3.550% | 9/2/50 | 765 | 663 | ||
Royalty Pharma plc | 3.350% | 9/2/51 | 1,275 | 1,067 | ||
2 | San Diego Gas & Electric Co. | 1.700% | 10/1/30 | 1,360 | 1,236 | |
2 | San Diego Gas & Electric Co. | 4.100% | 6/15/49 | 261 | 276 | |
1 | SBA Tower Trust | 3.448% | 3/15/23 | 675 | 684 | |
1 | SBA Tower Trust | 1.884% | 1/15/26 | 245 | 237 | |
1 | SBA Tower Trust | 1.631% | 11/15/26 | 2,265 | 2,179 | |
2 | SCE Recovery Funding LLC | 0.861% | 11/15/31 | 385 | 360 | |
2 | SCE Recovery Funding LLC | 1.942% | 5/15/38 | 165 | 150 | |
2 | SCE Recovery Funding LLC | 2.510% | 11/15/43 | 95 | 85 | |
Sempra Energy | 3.250% | 6/15/27 | 1,050 | 1,073 | ||
Sherwin-Williams Co. | 3.450% | 6/1/27 | 2,055 | 2,138 | ||
Sierra Pacific Power Co. | 2.600% | 5/1/26 | 149 | 151 | ||
2 | Southern California Edison Co. | 3.700% | 8/1/25 | 30 | 31 | |
2 | Southern California Edison Co. | 2.950% | 2/1/51 | 790 | 666 | |
Southern Co. | 4.400% | 7/1/46 | 5 | 5 | ||
1 | Sprint Spectrum Co. LLC | 4.738% | 3/20/25 | 654 | 675 | |
2 | SSM Health Care Corp. | 3.823% | 6/1/27 | 320 | 341 | |
2 | Sutter Health | 2.294% | 8/15/30 | 360 | 338 | |
1 | Teachers Insurance & Annuity Association of America | 4.900% | 9/15/44 | 860 | 1,008 | |
Teledyne Technologies Inc. | 2.250% | 4/1/28 | 985 | 958 | ||
Teledyne Technologies Inc. | 2.750% | 4/1/31 | 790 | 760 | ||
8 | Thermo Fisher Scientific Finance I BV | 1.625% | 10/18/41 | 885 | 899 | |
T-Mobile USA Inc. | 2.050% | 2/15/28 | 1,975 | 1,880 | ||
1 | T-Mobile USA Inc. | 2.700% | 3/15/32 | 2,160 | 2,030 | |
2 | Toledo Hospital | 5.325% | 11/15/28 | 555 | 610 | |
Toledo Hospital | 5.750% | 11/15/38 | 205 | 229 | ||
2 | Truist Bank | 3.300% | 5/15/26 | 450 | 466 | |
2 | Truist Financial Corp. | 3.700% | 6/5/25 | 970 | 1,014 | |
Union Pacific Corp. | 3.600% | 9/15/37 | 910 | 944 | ||
Union Pacific Corp. | 3.750% | 2/5/70 | 285 | 284 | ||
2 | United Airlines Pass-Through Trust Class B Series 2018-1 | 4.600% | 3/1/26 | 51 | 50 | |
UnitedHealth Group Inc. | 3.850% | 6/15/28 | 820 | 879 | ||
UnitedHealth Group Inc. | 2.000% | 5/15/30 | 240 | 227 | ||
UnitedHealth Group Inc. | 4.625% | 7/15/35 | 75 | 87 | ||
UnitedHealth Group Inc. | 4.200% | 1/15/47 | 65 | 72 | ||
US Bancorp | 2.491% | 11/3/36 | 996 | 929 | ||
8 | Verizon Communications Inc. | 1.250% | 4/8/30 | 2,350 | 2,606 | |
Verizon Communications Inc. | 1.680% | 10/30/30 | 307 | 276 | ||
1 | Verizon Communications Inc. | 2.355% | 3/15/32 | 3,475 | 3,246 | |
8 | Verizon Communications Inc. | 1.500% | 9/19/39 | 1,100 | 1,114 | |
2,7 | Wells Fargo & Co. | 2.975% | 5/19/26 | 625 | 494 | |
2 | Wells Fargo & Co. | 4.100% | 6/3/26 | 920 | 969 | |
2 | Wells Fargo & Co. | 4.300% | 7/22/27 | 275 | 294 | |
2 | Wells Fargo & Co. | 2.879% | 10/30/30 | 435 | 428 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
2 | Wells Fargo & Co. | 4.750% | 12/7/46 | 800 | 900 | |
Welltower Inc. | 4.000% | 6/1/25 | 275 | 288 | ||
200,371 | ||||||
Total Corporate Bonds (Cost $367,675) | 353,592 | |||||
Sovereign Bonds (3.3%) | ||||||
Australia (0.1%) | ||||||
2,10 | Commonwealth of Australia | 2.750% | 11/21/27 | 135 | 102 | |
2,10 | Commonwealth of Australia | 2.250% | 5/21/28 | 1,195 | 885 | |
2,10 | Commonwealth of Australia | 1.000% | 11/21/31 | 2,175 | 1,428 | |
2,415 | ||||||
Bermuda (0.0%) | ||||||
1,2 | Bermuda | 2.375% | 8/20/30 | 200 | 189 | |
1,2 | Bermuda | 3.375% | 8/20/50 | 200 | 184 | |
373 | ||||||
Canada (0.6%) | ||||||
7 | Canadian Government Bond | 0.750% | 10/1/24 | 4,565 | 3,530 | |
7 | Canadian Government Bond | 1.500% | 6/1/31 | 350 | 268 | |
7 | Canadian Government Bond | 2.000% | 12/1/51 | 250 | 192 | |
7 | City of Montreal | 3.150% | 12/1/36 | 750 | 585 | |
7 | City of Montreal | 3.500% | 12/1/38 | 410 | 335 | |
7 | City of Montreal | 2.400% | 12/1/41 | 1,000 | 700 | |
7 | City of Toronto | 3.200% | 8/1/48 | 1,000 | 769 | |
7 | Municipal Finance Authority of British Columbia | 4.950% | 12/1/27 | 2,200 | 1,989 | |
7 | Province of Ontario | 2.900% | 6/2/28 | 1,910 | 1,566 | |
2,11 | Province of Ontario | 0.250% | 6/28/29 | 985 | 1,058 | |
7 | Regional Municipality of York | 2.150% | 6/22/31 | 800 | 608 | |
11,600 | ||||||
Chile (0.0%) | ||||||
2 | Corp. Nacional del Cobre de Chile | 3.625% | 8/1/27 | 650 | 665 | |
China (0.1%) | ||||||
1,2 | State Grid Overseas Investment BVI Ltd. | 2.750% | 5/4/22 | 2,135 | 2,139 | |
Colombia (0.1%) | ||||||
2 | Republic of Colombia | 4.000% | 2/26/24 | 1,350 | 1,370 | |
France (0.1%) | ||||||
1,2 | Electricite de France SA | 5.600% | 1/27/40 | 1,225 | 1,408 | |
Germany (0.1%) | ||||||
8 | Federal Republic of Germany | 0.250% | 8/15/28 | 1,700 | 1,952 | |
Japan (0.6%) | ||||||
2,12 | Japan | 0.100% | 3/20/31 | 421,350 | 3,651 | |
2,12 | Japan | 0.100% | 6/20/31 | 464,750 | 4,022 | |
2,12 | Japan | 0.100% | 9/20/31 | 85,100 | 735 | |
2,12 | Japan | 0.700% | 6/20/51 | 301,250 | 2,512 | |
2,12 | Japan | 0.700% | �� 9/20/51 | 59,400 | 494 | |
11,414 | ||||||
Mexico (0.0%) | ||||||
2 | United Mexican States | 4.280% | 8/14/41 | 1,205 | 1,132 | |
Norway (0.1%) | ||||||
Equinor ASA | 3.000% | 4/6/27 | 1,545 | 1,586 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Panama (0.0%) | ||||||
1,2 | Empresa de Transmision Electrica SA | 5.125% | 5/2/49 | 470 | 475 | |
Qatar (0.2%) | ||||||
1,2 | Qatar Energy | 2.250% | 7/12/31 | 820 | 777 | |
1,2 | Qatar Energy | 3.125% | 7/12/41 | 685 | 646 | |
1,2 | State of Qatar | 3.875% | 4/23/23 | 550 | 565 | |
1,2 | State of Qatar | 5.103% | 4/23/48 | 255 | 322 | |
1,2 | State of Qatar | 4.400% | 4/16/50 | 780 | 906 | |
3,216 | ||||||
Romania (0.1%) | ||||||
2,8 | Republic of Romania | 2.124% | 7/16/31 | 400 | 374 | |
1,2,8 | Republic of Romania | 2.000% | 4/14/33 | 837 | 723 | |
2,8 | Republic of Romania | 2.625% | 12/2/40 | 525 | 431 | |
1,528 | ||||||
Saudi Arabia (0.2%) | ||||||
1,2 | Kingdom of Saudi Arabia | 2.875% | 3/4/23 | 2,020 | 2,046 | |
1,2 | Saudi Arabian Oil Co. | 2.875% | 4/16/24 | 500 | 504 | |
1,2 | Saudi Arabian Oil Co. | 3.500% | 4/16/29 | 680 | 702 | |
3,252 | ||||||
Singapore (0.0%) | ||||||
1,2 | Temasek Financial I Ltd. | 3.625% | 8/1/28 | 510 | 553 | |
Spain (0.1%) | ||||||
1,8 | Kingdom of Spain | 0.600% | 10/31/29 | 1,050 | 1,166 | |
Supranational (0.6%) | ||||||
8 | European Investment Bank | 0.000% | 11/15/27 | 1,460 | 1,617 | |
8 | European Stability Mechanism | 0.000% | 12/16/24 | 963 | 1,081 | |
8 | European Stability Mechanism | 0.000% | 12/15/26 | 1,425 | 1,585 | |
2,8 | European Union | 0.000% | 7/4/35 | 3,630 | 3,652 | |
2,8 | European Union | 0.200% | 6/4/36 | 4,110 | 4,218 | |
12,153 | ||||||
United Arab Emirates (0.1%) | ||||||
2 | Emirate of Abu Dhabi | 3.125% | 10/11/27 | 1,235 | 1,297 | |
United Kingdom (0.2%) | ||||||
9 | United Kingdom | 0.625% | 6/7/25 | 700 | 926 | |
9 | United Kingdom | 1.250% | 7/22/27 | 655 | 886 | |
9 | United Kingdom | 3.500% | 1/22/45 | 1,580 | 2,864 | |
4,676 | ||||||
Total Sovereign Bonds (Cost $66,991) | 64,370 | |||||
Taxable Municipal Bonds (0.6%) | ||||||
United States (0.6%) | ||||||
Broward County FL Airport System Revenue | 3.477% | 10/1/43 | 100 | 100 | ||
Chicago IL Transit Authority Sales & Transfer Tax Receipts Revenue | 6.899% | 12/1/40 | 55 | 74 | ||
Connecticut GO | 2.000% | 7/1/23 | 190 | 191 | ||
Connecticut GO | 5.770% | 3/15/25 | 275 | 305 | ||
Dallas/Fort Worth International Airport Revenue | 3.089% | 11/1/40 | 90 | 90 | ||
Foothill-Eastern Transportation Corridor Agency CA Toll Road Revenue | 4.094% | 1/15/49 | 55 | 57 | ||
13 | Foothill-Eastern Transportation Corridor Agency CA Toll Road Revenue | 3.924% | 1/15/53 | 405 | 417 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Georgia Municipal Electric Power Authority Revenue | 6.637% | 4/1/57 | 747 | 1,072 | ||
Golden State Tobacco Securitization Corp. California Revenue | 2.746% | 6/1/34 | 35 | 34 | ||
Golden State Tobacco Securitization Corp. California Revenue | 3.293% | 6/1/42 | 65 | 64 | ||
Golden State Tobacco Securitization Corp. California Revenue | 3.000% | 6/1/46 | 165 | 167 | ||
Grand Parkway Transportation Corp. Texas System Toll Revenue | 3.236% | 10/1/52 | 290 | 276 | ||
Illinois GO | 5.100% | 6/1/33 | 4,040 | 4,457 | ||
14 | Kansas Development Finance Authority Revenue | 2.774% | 5/1/51 | 475 | 443 | |
13 | Kansas Development Finance Authority Revenue (Employees Retirement System) | 5.371% | 5/1/26 | 520 | 559 | |
Massachusetts School Building Authority Dedicated Sales Tax Revenue | 3.395% | 10/15/40 | 175 | 177 | ||
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.200% | 11/15/26 | 20 | 22 | ||
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.668% | 11/15/39 | 170 | 226 | ||
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.814% | 11/15/40 | 805 | 1,109 | ||
New York State Dormitory Authority Revenue (Personal Income Tax) | 3.110% | 2/15/39 | 285 | 289 | ||
15 | Philadelphia PA Authority for Industrial Development Revenue | 6.550% | 10/15/28 | 635 | 778 | |
Port Authority of New York & New Jersey Revenue | 3.175% | 7/15/60 | 295 | 275 | ||
Port Authority of New York & New Jersey Revenue | 4.458% | 10/1/62 | 205 | 246 | ||
Sales Tax Securitization Corp. Illinois Revenue | 4.787% | 1/1/48 | 650 | 765 | ||
Total Taxable Municipal Bonds (Cost $12,029) | 12,193 | |||||
Shares | ||||||
Temporary Cash Investments (3.8%) | ||||||
Money Market Fund (3.6%) | ||||||
16 | Vanguard Market Liquidity Fund | 0.138% | 689,320 | 68,925 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (0.2%) | ||||||
United States Treasury Bill | 0.848% | 1/26/23 | 5,220 | 5,178 | ||
Total Temporary Cash Investments (Cost $74,085) | 74,103 | |||||
Total Investments (100.2%) (Cost $1,659,612) | 1,930,056 | |||||
Other Assets and Liabilities—Net (-0.2%) | (4,204) | |||||
Net Assets (100%) | 1,925,852 |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2022, the aggregate value was $138,020,000, representing 7.2% of net assets. |
2 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
3 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
4 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 28, 2022. |
5 | Securities with a value of $1,772,000 have been segregated as initial margin for open futures contracts. |
6 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
7 | Face amount denominated in Canadian dollars. |
8 | Face amount denominated in euro. |
9 | Face amount denominated in British pounds. |
10 | Face amount denominated in Australian dollars. |
11 | Face amount denominated in Swiss francs. |
12 | Face amount denominated in Japanese yen. |
13 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
14 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
15 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
16 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
1M—1-month. | |
3M—3-month. | |
ADR—American Depositary Receipt. | |
GO—General Obligation Bond. | |
LIBOR—London Interbank Offered Rate. | |
REMICS—Real Estate Mortgage Investment Conduits. | |
UMBS—Uniform Mortgage-Backed Securities. | |
USD—U.S. dollar. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
5-Year U.S. Treasury Note | June 2022 | 72 | 8,516 | 43 |
Euro-Bobl | March 2022 | 202 | 29,865 | (404) |
Euro-BTP | March 2022 | 4 | 633 | 8 |
Euro-Buxl | March 2022 | 27 | 5,987 | (433) |
Euro-OAT | March 2022 | 16 | 2,840 | (130) |
Euro-Schatz | March 2022 | 125 | 15,696 | (25) |
Long Gilt | June 2022 | 53 | 8,751 | 61 |
Ultra Long U.S. Treasury Bond | June 2022 | 6 | 1,116 | 4 |
(876) | ||||
Short Futures Contracts | ||||
10-Year U.S. Treasury Note | June 2022 | (409) | (52,122) | (500) |
Euro-Bund | March 2022 | (8) | (1,498) | (9) |
Ultra 10-Year U.S. Treasury Note | June 2022 | (114) | (16,111) | (206) |
(715) | ||||
(1,591) |
Forward Currency Contracts | |||||||
Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
Counterparty | Receive | Deliver | |||||
JPMorgan Chase Bank, N.A. | 3/31/22 | CAD | 655 | USD | 516 | — | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | EUR | 3,825 | USD | 4,301 | — | (7) |
JPMorgan Chase Bank, N.A. | 3/31/22 | GBP | 388 | USD | 521 | — | — |
Goldman Sachs International | 3/31/22 | USD | 6,875 | AUD | 9,512 | — | (37) |
Goldman Sachs International | 3/31/22 | USD | 17,236 | CAD | 21,991 | — | (116) |
Bank of America, N.A. | 3/31/22 | AUD | 900 | CAD | 829 | — | — |
Bank of America, N.A. | 3/31/22 | USD | 3,035 | CHF | 2,784 | — | (4) |
JPMorgan Chase Bank, N.A. | 3/31/22 | USD | 101,642 | EUR | 89,526 | 1,128 | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | GBP | 2,921 | EUR | 3,483 | 9 | — |
Forward Currency Contracts (continued) | |||||||
Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
Counterparty | Receive | Deliver | |||||
JPMorgan Chase Bank, N.A. | 3/31/22 | USD | 31,269 | GBP | 23,079 | 299 | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | USD | 12,810 | JPY | 1,473,473 | — | (16) |
Bank of America, N.A. | 3/31/22 | AUD | 4,436 | JPY | 366,900 | 30 | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | GBP | 1,169 | JPY | 182,188 | — | (17) |
Goldman Sachs International | 3/31/22 | USD | 493 | SEK | 4,600 | 7 | — |
1,473 | (197) |
AUD—Australian dollar. |
CAD—Canadian dollar. |
CHF—Swiss franc. |
EUR—euro. |
GBP—British pound. |
JPY—Japanese yen. |
SEK—Swedish krona. |
USD—U.S. dollar. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $1,590,706) | 1,861,131 |
Affiliated Issuers (Cost $68,906) | 68,925 |
Total Investments in Securities | 1,930,056 |
Investment in Vanguard | 65 |
Foreign Currency, at Value (Cost $17,957) | 17,949 |
Receivables for Investment Securities Sold | 13,309 |
Receivables for Accrued Income | 7,492 |
Receivables for Capital Shares Issued | 2,008 |
Unrealized Appreciation—Forward Currency Contracts | 1,473 |
Total Assets | 1,972,352 |
Liabilities | |
Due to Custodian | 812 |
Payables for Investment Securities Purchased | 42,300 |
Payables for Capital Shares Redeemed | 1,986 |
Payables to Investment Advisor | 678 |
Payables to Vanguard | 129 |
Variation Margin Payable—Futures Contracts | 398 |
Unrealized Depreciation—Forward Currency Contracts | 197 |
Total Liabilities | 46,500 |
Net Assets | 1,925,852 |
Statement of Assets and Liabilities (continued) | |
At February 28, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 1,634,979 |
Total Distributable Earnings (Loss) | 290,873 |
Net Assets | 1,925,852 |
Investor Shares—Net Assets | |
Applicable to 9,754,416 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 248,106 |
Net Asset Value Per Share—Investor Shares | $25.44 |
Admiral Shares—Net Assets | |
Applicable to 52,759,449 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,677,746 |
Net Asset Value Per Share—Admiral Shares | $31.80 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends 1 | 12,648 |
Interest 2 | 5,661 |
Total Income | 18,309 |
Expenses | |
Investment Advisory Fees—Note B | |
Basic Fee | 1,411 |
Performance Adjustment | (185) |
The Vanguard Group—Note C | |
Management and Administrative—Investor Shares | 339 |
Management and Administrative—Admiral Shares | 1,285 |
Marketing and Distribution—Investor Shares | 16 |
Marketing and Distribution—Admiral Shares | 52 |
Custodian Fees | 24 |
Shareholders’ Reports—Investor Shares | 3 |
Shareholders’ Reports—Admiral Shares | 18 |
Trustees’ Fees and Expenses | — |
Other Expenses | 5 |
Total Expenses | 2,968 |
Net Investment Income | 15,341 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | 16,652 |
Futures Contracts | 2,724 |
Forward Currency Contracts | 6,196 |
Foreign Currencies | (888) |
Realized Net Gain (Loss) | 24,684 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (48,888) |
Futures Contracts | (1,665) |
Forward Currency Contracts | 2,015 |
Foreign Currencies | (32) |
Change in Unrealized Appreciation (Depreciation) | (48,570) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (8,545) |
1 | Dividends are net of foreign withholding taxes of $552,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $29,000, ($6,000), $1,000, and ($2,000), respectively. Purchases and sales are for temporary cash investment purposes. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 15,341 | 27,722 | |
Realized Net Gain (Loss) | 24,684 | 37,845 | |
Change in Unrealized Appreciation (Depreciation) | (48,570) | 201,922 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (8,545) | 267,489 | |
Distributions | |||
Investor Shares | (5,839) | (3,249) | |
Admiral Shares | (40,964) | (22,988) | |
Total Distributions | (46,803) | (26,237) | |
Capital Share Transactions | |||
Investor Shares | 7,911 | 34,322 | |
Admiral Shares | 148,996 | 238,122 | |
Net Increase (Decrease) from Capital Share Transactions | 156,907 | 272,444 | |
Total Increase (Decrease) | 101,559 | 513,696 | |
Net Assets | |||
Beginning of Period | 1,824,293 | 1,310,597 | |
End of Period | 1,925,852 | 1,824,293 |
Investor Shares | |||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | October 18, 20171 to August 31, 2018 | ||
2021 | 2020 | 2019 | |||
Net Asset Value, Beginning of Period | $26.18 | $22.29 | $21.41 | $20.51 | $20.00 |
Investment Operations | |||||
Net Investment Income2 | .198 | .410 | .430 | .443 | .392 |
Net Realized and Unrealized Gain (Loss) on Investments | (.296) | 3.871 | .874 | .920 | .379 |
Total from Investment Operations | (.098) | 4.281 | 1.304 | 1.363 | .771 |
Distributions | |||||
Dividends from Net Investment Income | (.233) | (.391) | (.389) | (.426) | (.261) |
Distributions from Realized Capital Gains | (.409) | — | (.035) | (.037) | — |
Total Distributions | (.642) | (.391) | (.424) | (.463) | (.261) |
Net Asset Value, End of Period | $25.44 | $26.18 | $22.29 | $21.41 | $20.51 |
Total Return3 | -0.39% | 19.36% | 6.22% | 6.80% | 3.88% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $248 | $247 | $181 | $176 | $172 |
Ratio of Total Expenses to Average Net Assets4 | 0.43% | 0.42% | 0.44% | 0.46% | 0.46% 5,6 |
Ratio of Net Investment Income to Average Net Assets | 1.51% | 1.68% | 2.01% | 2.19% | 2.32% 5 |
Portfolio Turnover Rate | 38% 7 | 68% 7 | 58% 7 | 54% | 44% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were held in cash. Performance measurement began November 2, 2017, the first business day after the subscription period, at a net asset value of $20.00. |
2 | Calculated based on average shares outstanding. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | Includes performance-based investment advisory fee increases (decreases) of (0.02%), (0.03%), (0.01%), and 0.01%. Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 | Annualized. |
6 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.45%. |
7 | Includes 12%, 20%, and 10%, respectively, attributable to mortgage-dollar-roll activity. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | October 18, 20171 to August 31, 2018 | ||
2021 | 2020 | 2019 | |||
Net Asset Value, Beginning of Period | $32.74 | $27.87 | $26.76 | $25.65 | $25.00 |
Investment Operations | |||||
Net Investment Income2 | .268 | .554 | .564 | .583 | .511 |
Net Realized and Unrealized Gain (Loss) on Investments | (.384) | 4.842 | 1.104 | 1.132 | .480 |
Total from Investment Operations | (.116) | 5.396 | 1.668 | 1.715 | .991 |
Distributions | |||||
Dividends from Net Investment Income | (.313) | (.526) | (.514) | (.559) | (.341) |
Distributions from Realized Capital Gains | (.511) | — | (.044) | (.046) | — |
Total Distributions | (.824) | (.526) | (.558) | (.605) | (.341) |
Net Asset Value, End of Period | $31.80 | $32.74 | $27.87 | $26.76 | $25.65 |
Total Return3 | -0.37% | 19.53% | 6.38% | 6.85% | 3.99% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,678 | $1,577 | $1,129 | $826 | $715 |
Ratio of Total Expenses to Average Net Assets4 | 0.30% | 0.29% | 0.34% | 0.36% | 0.36% 5,6 |
Ratio of Net Investment Income to Average Net Assets | 1.64% | 1.81% | 2.11% | 2.29% | 2.42% 5 |
Portfolio Turnover Rate | 38% 7 | 68% 7 | 58% 7 | 54% | 44% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were held in cash. Performance measurement began November 2, 2017, the first business day after the subscription period, at a net asset value of $25.00. |
2 | Calculated based on average shares outstanding. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | Includes performance-based investment advisory fee increases (decreases) of (0.02%), (0.03%), (0.01%), and 0.01%. Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 | Annualized. |
6 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.35%. |
7 | Includes 12%, 20%, and 10%, respectively, attributable to mortgage-dollar-roll activity. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks—North and South America | 729,612 | — | — | 729,612 |
Common Stocks—Other | 48,415 | 465,399 | — | 513,814 |
U.S. Government and Agency Obligations | — | 157,123 | — | 157,123 |
Asset-Backed/Commercial Mortgage-Backed Securities | — | 25,249 | — | 25,249 |
Corporate Bonds | — | 353,592 | — | 353,592 |
Sovereign Bonds | — | 64,370 | — | 64,370 |
Taxable Municipal Bonds | — | 12,193 | — | 12,193 |
Temporary Cash Investments | 68,925 | 5,178 | — | 74,103 |
Total | 846,952 | 1,083,104 | — | 1,930,056 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 116 | — | — | 116 |
Forward Currency Contracts | — | 1,473 | — | 1,473 |
Total | 116 | 1,473 | — | 1,589 |
Liabilities | ||||
Futures Contracts1 | 1,707 | — | — | 1,707 |
Forward Currency Contracts | — | 197 | — | 197 |
Total | 1,707 | 197 | — | 1,904 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Statement of Assets and Liabilities | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
Unrealized Appreciation—Futures Contracts1 | 116 | — | 116 |
Unrealized Appreciation—Forward Currency Contracts | — | 1,473 | 1,473 |
Total Assets | 116 | 1,473 | 1,589 |
Unrealized Depreciation—Futures Contracts1 | 1,707 | — | 1,707 |
Unrealized Depreciation—Forward Currency Contracts | — | 197 | 197 |
Total Liabilities | 1,707 | 197 | 1,904 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized Net Gain (Loss) on Derivatives | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
Futures Contracts | 2,724 | — | 2,724 |
Forward Currency Contracts | — | 6,196 | 6,196 |
Realized Net Gain (Loss) on Derivatives | 2,724 | 6,196 | 8,920 |
Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
Futures Contracts | (1,665) | — | (1,665) |
Forward Currency Contracts | — | 2,015 | 2,015 |
Change in Unrealized Appreciation (Depreciation) on Derivatives | (1,665) | 2,015 | 350 |
Amount ($000) | |
Tax Cost | 1,660,350 |
Gross Unrealized Appreciation | 313,686 |
Gross Unrealized Depreciation | (44,295) |
Net Unrealized Appreciation (Depreciation) | 269,391 |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 52,172 | 2,002 | 101,873 | 4,118 | |
Issued in Lieu of Cash Distributions | 5,217 | 203 | 2,906 | 120 | |
Redeemed | (49,478) | (1,901) | (70,457) | (2,920) | |
Net Increase (Decrease)—Investor Shares | 7,911 | 304 | 34,322 | 1,318 | |
Admiral Shares | |||||
Issued | 254,906 | 7,835 | 498,135 | 16,206 | |
Issued in Lieu of Cash Distributions | 36,019 | 1,120 | 20,433 | 673 | |
Redeemed | (141,929) | (4,366) | (280,446) | (9,226) | |
Net Increase (Decrease)—Admiral Shares | 148,996 | 4,589 | 238,122 | 7,653 |
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• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Global Wellesley Income Fund | |||
Investor Shares | $1,000.00 | $ 983.90 | $2.07 |
Admiral™ Shares | 1,000.00 | 984.60 | 1.43 |
Based on Hypothetical 5% Yearly Return | |||
Global Wellesley Income Fund | |||
Investor Shares | $1,000.00 | $1,022.71 | $2.11 |
Admiral Shares | 1,000.00 | 1,023.36 | 1.45 |
United States | 54.5% |
United Kingdom | 8.3 |
France | 6.7 |
Canada | 5.3 |
Japan | 4.1 |
Switzerland | 3.6 |
Germany | 1.7 |
Netherlands | 1.6 |
Australia | 1.5 |
Norway | 1.4 |
Supranational | 1.2 |
Spain | 1.1 |
Ireland | 1.1 |
Cayman Islands | 1.0 |
Hong Kong | 1.0 |
Other | 5.9 |
Shares | Market Value• ($000) | |||||
Common Stocks (37.6%) | ||||||
Australia (0.9%) | ||||||
Rio Tinto plc | 65,647 | 5,133 | ||||
Canada (3.5%) | ||||||
Bank of Nova Scotia | 89,431 | 6,481 | ||||
TC Energy Corp. | 90,847 | 4,881 | ||||
Royal Bank of Canada | 43,201 | 4,779 | ||||
Enbridge Inc. | 92,824 | 4,010 | ||||
20,151 | ||||||
China (0.5%) | ||||||
ENN Energy Holdings Ltd. | 215,400 | 3,120 | ||||
France (3.7%) | ||||||
AXA SA | 225,523 | 6,102 | ||||
TotalEnergies SE | 101,459 | 5,169 | ||||
Bureau Veritas SA | 145,965 | 4,174 | ||||
Vinci SA | 36,247 | 3,800 | ||||
Nexity SA | 61,143 | 2,410 | ||||
21,655 | ||||||
Greece (0.6%) | ||||||
Hellenic Telecommunications Organization SA | 189,242 | 3,785 | ||||
Hong Kong (0.8%) | ||||||
AIA Group Ltd. | 277,000 | 2,876 | ||||
* | Sands China Ltd. | 704,800 | 1,859 | |||
4,735 | ||||||
Japan (2.6%) | ||||||
Tokio Marine Holdings Inc. | 93,500 | 5,320 | ||||
Mitsubishi UFJ Financial Group Inc. | 636,100 | 3,905 | ||||
KDDI Corp. | 105,500 | 3,433 | ||||
Isuzu Motors Ltd. | 191,300 | 2,588 | ||||
15,246 | ||||||
Netherlands (0.7%) | ||||||
Koninklijke KPN NV | 1,148,106 | 3,929 | ||||
Norway (0.8%) | ||||||
DNB Bank ASA | 200,545 | 4,490 |
Shares | Market Value• ($000) | |||||
Spain (0.8%) | ||||||
Industria de Diseno Textil SA | 87,783 | 2,290 | ||||
Iberdrola SA | 191,586 | 2,174 | ||||
4,464 | ||||||
Switzerland (2.3%) | ||||||
Novartis AG (Registered) | 58,227 | 5,118 | ||||
UBS Group AG (Registered) | 257,220 | 4,732 | ||||
Nestle SA (Registered) | 25,935 | 3,379 | ||||
13,229 | ||||||
Taiwan (0.7%) | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 195,000 | 4,192 | ||||
United Kingdom (3.5%) | ||||||
AstraZeneca plc | 52,227 | 6,348 | ||||
BAE Systems plc | 560,905 | 5,385 | ||||
National Grid plc | 342,772 | 5,182 | ||||
Standard Chartered plc | 452,888 | 3,228 | ||||
20,143 | ||||||
United States (16.2%) | ||||||
Bank of America Corp. | 149,173 | 6,593 | ||||
Philip Morris International Inc. | 61,852 | 6,251 | ||||
Anthem Inc. | 13,808 | 6,239 | ||||
Pfizer Inc. | 125,992 | 5,914 | ||||
Cisco Systems Inc. | 97,538 | 5,440 | ||||
Progressive Corp. | 47,550 | 5,037 | ||||
Lockheed Martin Corp. | 10,643 | 4,617 | ||||
Merck & Co. Inc. | 58,657 | 4,492 | ||||
Johnson & Johnson | 26,817 | 4,413 | ||||
Exelon Corp. | 96,807 | 4,120 | ||||
Comcast Corp. Class A | 87,422 | 4,088 | ||||
Duke Energy Corp. | 40,103 | 4,027 | ||||
FMC Corp. | 33,947 | 3,980 | ||||
Texas Instruments Inc. | 22,825 | 3,880 | ||||
Microsoft Corp. | 12,699 | 3,794 | ||||
TJX Cos. Inc. | 46,100 | 3,047 | ||||
Verizon Communications Inc. | 56,299 | 3,022 | ||||
Chubb Ltd. | 14,795 | 3,013 | ||||
Edison International | 44,583 | 2,828 | ||||
Kellogg Co. | 42,377 | 2,710 | ||||
Medtronic plc | 25,635 | 2,691 | ||||
Medical Properties Trust Inc. | 125,447 | 2,552 | ||||
Home Depot Inc. | 5,849 | 1,847 | ||||
94,595 | ||||||
Total Common Stocks (Cost $176,242) | 218,867 | |||||
Coupon | Maturity Date | Face Amount ($000) | ||||
U.S. Government and Agency Obligations (12.3%) | ||||||
1,2 | Fannie Mae Pool | 3.070% | 2/1/25 | 125 | 129 | |
1,2 | Fannie Mae REMICS | 2.000% | 9/25/40 | 64 | 63 | |
1,2 | Fannie Mae REMICS | 2.500% | 5/25/45 | 324 | 319 | |
1,2 | Fannie Mae REMICS | 3.000% | 2/25/49 | 91 | 93 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1,2 | Fannie Mae REMICS | 3.500% | 6/25/44–2/25/48 | 451 | 464 | |
1,2 | Freddie Mac REMICS | 1.750% | 9/15/42 | 815 | 802 | |
1,2 | Freddie Mac REMICS | 3.500% | 11/15/40 | 39 | 40 | |
1,2 | Freddie Mac REMICS | 4.000% | 12/15/39–8/15/40 | 735 | 776 | |
1,3 | Ginnie Mae II Pool | 2.000% | 3/15/52 | 775 | 757 | |
1,3 | Ginnie Mae II Pool | 2.500% | 3/15/52 | 1,225 | 1,224 | |
1 | Ginnie Mae REMICS | 2.750% | 9/20/44 | 113 | 114 | |
1,2,3 | UMBS Pool | 2.000% | 3/25/37–4/25/52 | 6,552 | 6,307 | |
1,2,3 | UMBS Pool | 2.500% | 3/25/37–4/25/52 | 8,165 | 8,096 | |
1,2,3 | UMBS Pool | 3.000% | 3/25/52 | 4,100 | 4,140 | |
United States Treasury Note/Bond | 0.250% | 9/30/23 | 1,470 | 1,445 | ||
United States Treasury Note/Bond | 0.375% | 10/31/23–9/15/24 | 2,685 | 2,627 | ||
United States Treasury Note/Bond | 0.500% | 11/30/23 | 1,755 | 1,728 | ||
United States Treasury Note/Bond | 0.625% | 10/15/24 | 525 | 512 | ||
United States Treasury Note/Bond | 0.750% | 12/31/23–4/30/26 | 5,235 | 5,110 | ||
United States Treasury Note/Bond | 0.875% | 6/30/26 | 845 | 814 | ||
United States Treasury Note/Bond | 1.000% | 12/15/24 | 870 | 855 | ||
United States Treasury Note/Bond | 1.125% | 10/31/26 | 145 | 141 | ||
United States Treasury Note/Bond | 1.250% | 11/30/26–12/31/26 | 15,510 | 15,156 | ||
United States Treasury Note/Bond | 1.375% | 11/15/31 | 1,275 | 1,223 | ||
United States Treasury Note/Bond | 1.500% | 1/31/27 | 2,340 | 2,313 | ||
4 | United States Treasury Note/Bond | 1.750% | 8/15/41 | 5,280 | 4,839 | |
United States Treasury Note/Bond | 1.875% | 2/15/51–11/15/51 | 4,210 | 3,928 | ||
United States Treasury Note/Bond | 2.000% | 11/15/41 | 7,775 | 7,440 | ||
United States Treasury Note/Bond | 2.250% | 2/15/52 | 100 | 102 | ||
Total U.S. Government and Agency Obligations (Cost $72,795) | 71,557 | |||||
Asset-Backed/Commercial Mortgage-Backed Securities (2.5%) | ||||||
Bermuda (0.0%) | ||||||
1,5 | START Ireland Series 2019-1 | 4.089% | 3/15/44 | 145 | 143 | |
Cayman Islands (1.0%) | ||||||
1,5,6 | BlueMountain CLO XXXII Ltd. Series 2021-32A, 3M USD LIBOR + 1.170% | 1.411% | 10/15/34 | 470 | 470 | |
1,5,6 | Columbia Cent CLO 31 Ltd. Series 2021-31A, 3M USD LIBOR + 1.550% | 1.804% | 4/20/34 | 340 | 335 | |
1,5,6 | KKR CLO 16 Ltd., 3M USD LIBOR + 1.210% | 1.464% | 10/20/34 | 435 | 435 | |
1,5,6 | Madison Park Funding XI Ltd. Series 2013-11A, 3M USD LIBOR + 1.450% | 1.709% | 7/23/29 | 300 | 298 | |
1,5,6 | Madison Park Funding XXX Ltd. Series 2018-30A, 3M USD LIBOR + 0.750% | 0.991% | 4/15/29 | 1,557 | 1,548 | |
1,5,6 | Magnetite VII Ltd. Series 2012-7A, 3M USD LIBOR + 0.800% | 1.041% | 1/15/28 | 1,435 | 1,433 | |
1,5,6 | Rockland Park CLO Ltd. Series 2021-1A, 3M USD LIBOR + 1.120% | 1.374% | 4/20/34 | 475 | 475 | |
1,5,6 | RR 18 Ltd. Series 2021-18A, 3M USD LIBOR + 1.600% | 1.841% | 10/15/34 | 350 | 347 | |
1,5,6 | Sound Point CLO XXXI Ltd. Series 2021-3A, 3M USD LIBOR + 1.650% | 1.781% | 10/25/34 | 250 | 247 | |
5,588 | ||||||
United States (1.5%) | ||||||
1,5 | Aligned Data Centers Issuer LLC Series 2021-1A | 1.937% | 8/15/46 | 740 | 709 | |
1,5 | Angel Oak Mortgage Trust I LLC Series 2018-3 | 3.649% | 9/25/48 | 56 | 56 | |
1,5,6 | BX Trust Series 2021-ARIA, 1M USD LIBOR + 1.297% | 1.488% | 10/15/36 | 770 | 755 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1,5,6 | BX Trust Series 2021-LGCY, 1M USD LIBOR + 0.506% | 0.697% | 10/15/23 | 1,750 | 1,683 | |
1,5 | Castlelake Aircraft Structured Trust Series 2019-1A | 3.967% | 4/15/39 | 176 | 174 | |
1,5 | Connecticut Avenue Securities Trust Series 2021-R01, SOFR30A + 1.550% | 1.599% | 10/25/41 | 145 | 145 | |
1,5 | Domino's Pizza Master Issuer LLC Series 2021-1A | 3.151% | 4/25/51 | 437 | 436 | |
1,2 | Fannie Mae-Aces Series 2021-M2S | 2.386% | 10/25/36 | 364 | 360 | |
1 | Ford Credit Auto Lease Trust Series 2021-A | 0.780% | 9/15/25 | 180 | 177 | |
1,2,6 | Freddie Mac STACR Debt Notes Series 2016-DNA3, 1M USD LIBOR + 5.000% | 5.187% | 12/25/28 | 168 | 177 | |
1,2,6 | Freddie Mac STACR Debt Notes Series 2017-DNA3, 1M USD LIBOR + 2.500% | 2.687% | 3/25/30 | 560 | 575 | |
1,2,5 | Freddie Mac STACR REMICS Trust Series 2020-DNA5, SOFR30A + 2.800% | 2.849% | 10/25/50 | 344 | 347 | |
1,2,5 | Freddie Mac STACR REMICS Trust Series 2021-DNA1, SOFR30A + 0.650% | 0.699% | 1/25/51 | 37 | 37 | |
1,5 | Home Partners of America Trust Series 2021-2 | 2.302% | 12/17/26 | 708 | 677 | |
1,5 | New Economy Assets Phase 1 Sponsor LLC Series 2021-1 | 2.410% | 10/20/61 | 245 | 239 | |
1 | Seasoned Credit Risk Transfer Trust Series 2019-3 | 3.500% | 10/25/58 | 202 | 204 | |
1,5,6 | SREIT Trust Series 2021-MFP, 1M USD LIBOR + 1.080% | 1.271% | 11/15/38 | 875 | 857 | |
1,5 | Taco Bell Funding LLC Series 2021-1A | 1.946% | 8/25/51 | 344 | 329 | |
1,5 | Taco Bell Funding LLC Series 2021-1A | 2.294% | 8/25/51 | 314 | 299 | |
1,5 | Towd Point Mortgage Trust Series 2018-1 | 3.000% | 1/25/58 | 117 | 119 | |
1,5 | Vantage Data Centers Issuer LLC Series 2019-1A | 3.188% | 7/15/44 | 136 | 137 | |
1,5 | Vantage Data Centers Issuer LLC Series 2020-1A | 1.645% | 9/15/45 | 540 | 516 | |
9,008 | ||||||
Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $14,969) | 14,739 | |||||
Corporate Bonds (35.5%) | ||||||
Australia (0.3%) | ||||||
5 | Macquarie Group Ltd. | 2.871% | 1/14/33 | 2,020 | 1,911 | |
Austria (0.1%) | ||||||
5 | JAB Holdings BV | 2.200% | 11/23/30 | 260 | 240 | |
5 | JAB Holdings BV | 3.750% | 5/28/51 | 500 | 477 | |
717 | ||||||
Canada (0.7%) | ||||||
7 | Bank of Montreal | 2.850% | 3/6/24 | 1,890 | 1,506 | |
1,7 | Bell Telephone Co. of Canada or Bell Canada | 3.350% | 3/22/23 | 950 | 759 | |
Canadian Pacific Railway Co. | 2.450% | 12/2/31 | 585 | 562 | ||
Fortis Inc. | 3.055% | 10/4/26 | 625 | 631 | ||
Nutrien Ltd. | 4.125% | 3/15/35 | 750 | 796 | ||
4,254 | ||||||
Denmark (0.6%) | ||||||
8 | Danske Bank A/S | 0.500% | 8/27/25 | 1,650 | 1,829 | |
5 | Danske Bank A/S | 1.621% | 9/11/26 | 875 | 837 | |
1,9 | Danske Bank A/S | 2.250% | 1/14/28 | 560 | 735 | |
3,401 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
France (2.5%) | ||||||
1,8 | Airbus SE | 2.375% | 4/7/32 | 385 | 467 | |
1,8 | Airbus SE | 2.375% | 6/9/40 | 610 | 697 | |
1,8 | AXA SA | 5.125% | 7/4/43 | 750 | 889 | |
5 | BNP Paribas SA | 2.819% | 11/19/25 | 360 | 360 | |
5 | BNP Paribas SA | 2.219% | 6/9/26 | 770 | 755 | |
1,8 | BNP Paribas SA | 0.125% | 9/4/26 | 400 | 428 | |
5 | BNP Paribas SA | 2.591% | 1/20/28 | 1,145 | 1,114 | |
8 | BNP Paribas SA | 0.500% | 9/1/28 | 900 | 950 | |
5 | BNP Paribas SA | 2.159% | 9/15/29 | 935 | 870 | |
1,8 | BPCE SA | 1.125% | 1/18/23 | 900 | 1,020 | |
5 | BPCE SA | 3.250% | 1/11/28 | 500 | 511 | |
5 | BPCE SA | 2.277% | 1/20/32 | 760 | 690 | |
5 | Danone SA | 2.947% | 11/2/26 | 285 | 291 | |
1,9 | Electricite de France SA | 5.500% | 10/17/41 | 100 | 168 | |
1,8 | Engie SA | 0.000% | 3/4/27 | 1,000 | 1,065 | |
1,8 | Orange SA | 1.000% | 5/12/25 | 1,200 | 1,364 | |
1,8 | Orange SA | 1.625% | 4/7/32 | 400 | 458 | |
1,8 | RCI Banque SA | 0.750% | 9/26/22 | 625 | 703 | |
1,8 | RCI Banque SA | 1.375% | 3/8/24 | 575 | 655 | |
1,8 | RCI Banque SA | 1.625% | 4/11/25 | 305 | 349 | |
8 | Societe Generale SFH SA | 0.750% | 1/29/27 | 800 | 910 | |
14,714 | ||||||
Germany (1.4%) | ||||||
5 | Bayer US Finance II LLC | 4.250% | 12/15/25 | 660 | 692 | |
5 | Bayer US Finance LLC | 3.375% | 10/8/24 | 765 | 780 | |
1,9 | E.ON International Finance BV | 4.750% | 1/31/34 | 100 | 158 | |
1,9 | E.ON International Finance BV | 5.875% | 10/30/37 | 200 | 357 | |
1,8 | Vantage Towers AG | 0.750% | 3/31/30 | 600 | 609 | |
1,9 | Volkswagen Financial Services NV | 0.875% | 2/20/25 | 400 | 513 | |
5 | Volkswagen Group of America Finance LLC | 3.350% | 5/13/25 | 200 | 204 | |
1,8 | Volkswagen Leasing GmbH | 2.625% | 1/15/24 | 525 | 614 | |
1,8 | Volkswagen Leasing GmbH | 1.375% | 1/20/25 | 1,825 | 2,082 | |
1,8 | Volkswagen Leasing GmbH | 0.625% | 7/19/29 | 825 | 860 | |
8 | Wintershall Dea Finance BV | 1.823% | 9/25/31 | 1,300 | 1,200 | |
8,069 | ||||||
Hong Kong (0.1%) | ||||||
1,8 | AIA Group Ltd. | 0.880% | 9/9/33 | 500 | 522 | |
Ireland (1.0%) | ||||||
AerCap Ireland Capital DAC | 3.000% | 10/29/28 | 870 | 838 | ||
AerCap Ireland Capital DAC | 3.300% | 1/30/32 | 475 | 451 | ||
AerCap Ireland Capital DAC | 3.400% | 10/29/33 | 450 | 425 | ||
5 | Avolon Holdings Funding Ltd. | 2.125% | 2/21/26 | 260 | 246 | |
5 | Avolon Holdings Funding Ltd. | 2.528% | 11/18/27 | 1,881 | 1,765 | |
8 | CRH Finance DAC | 3.125% | 4/3/23 | 1,177 | 1,363 | |
1,8 | CRH SMW Finance DAC | 1.250% | 11/5/26 | 800 | 909 | |
5,997 | ||||||
Italy (0.5%) | ||||||
1,8 | Enel Finance International NV | 0.500% | 6/17/30 | 1,675 | 1,708 | |
1,8 | Terna - Rete Elettrica Nazionale | 0.375% | 6/23/29 | 775 | 812 | |
5 | UniCredit SpA | 1.982% | 6/3/27 | 530 | 493 | |
3,013 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Japan (0.1%) | ||||||
5 | NTT Finance Corp. | 1.162% | 4/3/26 | 700 | 666 | |
Takeda Pharmaceutical Co. Ltd. | 3.025% | 7/9/40 | 200 | 181 | ||
847 | ||||||
Kuwait (0.3%) | ||||||
5 | NBK SPC Ltd. | 1.625% | 9/15/27 | 1,750 | 1,646 | |
Netherlands (0.9%) | ||||||
5 | Cooperatieve Rabobank UA | 1.106% | 2/24/27 | 530 | 501 | |
1,9 | Cooperatieve Rabobank UA | 4.625% | 5/23/29 | 100 | 147 | |
1,8 | Cooperatieve Rabobank UA | 0.010% | 7/2/30 | 1,100 | 1,161 | |
8 | ING Groep NV | 0.250% | 2/18/29 | 600 | 620 | |
8 | ING Groep NV | 0.250% | 2/1/30 | 2,000 | 2,035 | |
Shell International Finance BV | 4.000% | 5/10/46 | 275 | 291 | ||
Shell International Finance BV | 3.000% | 11/26/51 | 340 | 310 | ||
5,065 | ||||||
Norway (0.3%) | ||||||
1,8 | Aker BP ASA | 1.125% | 5/12/29 | 1,090 | 1,146 | |
5 | Aker BP ASA | 4.000% | 1/15/31 | 725 | 745 | |
1,891 | ||||||
Saudi Arabia (0.2%) | ||||||
5 | EIG Pearl Holdings Sarl | 3.545% | 8/31/36 | 1,010 | 988 | |
South Korea (0.0%) | ||||||
5 | SK Telecom Co. Ltd. | 3.750% | 4/16/23 | 200 | 204 | |
Spain (0.2%) | ||||||
Telefonica Emisiones SA | 4.665% | 3/6/38 | 845 | 877 | ||
Switzerland (1.2%) | ||||||
5 | Alcon Finance Corp. | 3.000% | 9/23/29 | 1,005 | 996 | |
1,8 | Credit Suisse Group AG | 1.250% | 7/17/25 | 600 | 673 | |
5 | Credit Suisse Group AG | 3.091% | 5/14/32 | 2,380 | 2,256 | |
5 | UBS Group AG | 1.494% | 8/10/27 | 875 | 827 | |
8 | UBS Group AG | 0.250% | 2/24/28 | 950 | 994 | |
5 | UBS Group AG | 2.746% | 2/11/33 | 1,175 | 1,121 | |
6,867 | ||||||
United Arab Emirates (0.6%) | ||||||
5 | DAE Funding LLC | 1.550% | 8/1/24 | 1,125 | 1,082 | |
5 | Galaxy Pipeline Assets Bidco Ltd. | 2.160% | 3/31/34 | 2,620 | 2,437 | |
3,519 | ||||||
United Kingdom (4.0%) | ||||||
AstraZeneca plc | 4.000% | 1/17/29 | 720 | 779 | ||
1,8 | Barclays plc | 1.125% | 3/22/31 | 1,125 | 1,202 | |
8 | Barclays plc | 1.106% | 5/12/32 | 525 | 543 | |
Barclays plc | 2.894% | 11/24/32 | 760 | 720 | ||
Barclays plc | 3.330% | 11/24/42 | 640 | 584 | ||
BAT Capital Corp. | 3.557% | 8/15/27 | 1,210 | 1,221 | ||
1,8 | BP Capital Markets BV | 0.933% | 12/4/40 | 780 | 667 | |
1,7 | BP Capital Markets plc | 3.470% | 5/15/25 | 1,325 | 1,072 | |
8 | BP Capital Markets plc | 1.104% | 11/15/34 | 525 | 507 | |
5 | CK Hutchison International 17 II Ltd. | 2.750% | 3/29/23 | 975 | 986 | |
1,9 | Heathrow Funding Ltd. | 2.750% | 10/13/29 | 1,350 | 1,780 | |
1,9 | Heathrow Funding Ltd. | 2.750% | 8/9/49 | 150 | 175 | |
1,9 | HSBC Holdings plc | 2.256% | 11/13/26 | 1,725 | 2,273 | |
HSBC Holdings plc | 1.589% | 5/24/27 | 420 | 396 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
9 | HSBC Holdings plc | 1.750% | 7/24/27 | 345 | 443 | |
HSBC Holdings plc | 2.206% | 8/17/29 | 770 | 719 | ||
HSBC Holdings plc | 2.804% | 5/24/32 | 210 | 198 | ||
HSBC Holdings plc | 2.871% | 11/22/32 | 1,960 | 1,860 | ||
6 | HSBC Holdings plc , 3M USD LIBOR + 1.000% | 1.488% | 5/18/24 | 255 | 257 | |
1,8 | NatWest Group plc | 1.750% | 3/2/26 | 2,075 | 2,357 | |
9 | NatWest Group plc | 3.622% | 8/14/30 | 875 | 1,182 | |
1,8 | NatWest Group plc | 1.043% | 9/14/32 | 525 | 542 | |
Santander UK Group Holdings plc | 1.089% | 3/15/25 | 1,725 | 1,674 | ||
8 | Segro Capital Sarl | 0.500% | 9/22/31 | 500 | 503 | |
5 | Standard Chartered plc | 0.991% | 1/12/25 | 530 | 514 | |
23,154 | ||||||
United States (20.5%) | ||||||
AbbVie Inc. | 4.750% | 3/15/45 | 275 | 306 | ||
AbbVie Inc. | 4.250% | 11/21/49 | 340 | 361 | ||
1 | Alabama Power Co. | 4.300% | 7/15/48 | 275 | 298 | |
9 | American Honda Finance Corp. | 0.750% | 11/25/26 | 1,235 | 1,563 | |
8 | American International Group Inc. | 1.500% | 6/8/23 | 875 | 992 | |
American International Group Inc. | 4.250% | 3/15/29 | 1,255 | 1,354 | ||
American International Group Inc. | 3.400% | 6/30/30 | 645 | 663 | ||
American Tower Corp. | 5.000% | 2/15/24 | 200 | 211 | ||
American Tower Corp. | 4.400% | 2/15/26 | 325 | 345 | ||
8 | American Tower Corp. | 0.450% | 1/15/27 | 735 | 777 | |
5 | American Transmission Systems Inc. | 2.650% | 1/15/32 | 605 | 580 | |
Amgen Inc. | 4.200% | 2/22/52 | 160 | 168 | ||
Anthem Inc. | 2.550% | 3/15/31 | 990 | 954 | ||
8 | AT&T Inc. | 2.050% | 5/19/32 | 300 | 347 | |
8 | AT&T Inc. | 3.150% | 9/4/36 | 250 | 310 | |
8 | AT&T Inc. | 2.600% | 5/19/38 | 275 | 322 | |
AT&T Inc. | 3.300% | 2/1/52 | 525 | 466 | ||
AT&T Inc. | 3.500% | 9/15/53 | 1,172 | 1,074 | ||
5 | Athene Global Funding | 2.500% | 3/24/28 | 1,475 | 1,420 | |
Bank of America Corp. | 1.734% | 7/22/27 | 785 | 750 | ||
1 | Bank of America Corp. | 3.593% | 7/21/28 | 1,550 | 1,600 | |
1 | Bank of America Corp. | 4.271% | 7/23/29 | 980 | 1,045 | |
Bank of America Corp. | 2.687% | 4/22/32 | 745 | 716 | ||
Bank of America Corp. | 2.482% | 9/21/36 | 1,525 | 1,383 | ||
Boeing Co. | 1.433% | 2/4/24 | 540 | 531 | ||
Boeing Co. | 2.196% | 2/4/26 | 680 | 659 | ||
Boeing Co. | 3.250% | 3/1/28 | 567 | 568 | ||
Boeing Co. | 3.450% | 11/1/28 | 175 | 176 | ||
Boeing Co. | 3.625% | 2/1/31 | 205 | 207 | ||
1 | Bon Secours Mercy Health Inc. | 2.095% | 6/1/31 | 275 | 255 | |
8 | BorgWarner Inc. | 1.000% | 5/19/31 | 515 | 522 | |
5 | Boston Gas Co. | 3.001% | 8/1/29 | 105 | 104 | |
Boston Scientific Corp. | 4.000% | 3/1/29 | 55 | 59 | ||
Boston Scientific Corp. | 4.550% | 3/1/39 | 550 | 609 | ||
Brixmor Operating Partnership LP | 2.500% | 8/16/31 | 475 | 438 | ||
Broadcom Inc. | 4.700% | 4/15/25 | 1,190 | 1,265 | ||
5 | Broadcom Inc. | 2.600% | 2/15/33 | 1,350 | 1,230 | |
5 | Broadcom Inc. | 3.469% | 4/15/34 | 1,110 | 1,076 | |
5 | Brooklyn Union Gas Co. | 4.273% | 3/15/48 | 760 | 763 | |
5 | Cargill Inc. | 4.760% | 11/23/45 | 275 | 330 | |
Charter Communications Operating LLC | 5.050% | 3/30/29 | 435 | 474 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Charter Communications Operating LLC | 2.300% | 2/1/32 | 1,205 | 1,071 | ||
Charter Communications Operating LLC | 6.384% | 10/23/35 | 305 | 365 | ||
Charter Communications Operating LLC | 4.800% | 3/1/50 | 60 | 59 | ||
Charter Communications Operating LLC | 3.700% | 4/1/51 | 40 | 34 | ||
Cigna Corp. | 4.375% | 10/15/28 | 435 | 472 | ||
Cigna Corp. | 2.400% | 3/15/30 | 220 | 209 | ||
1 | Citigroup Inc. | 3.520% | 10/27/28 | 1,105 | 1,136 | |
Cleco Corporate Holdings LLC | 3.743% | 5/1/26 | 675 | 702 | ||
Cleco Corporate Holdings LLC | 3.375% | 9/15/29 | 270 | 267 | ||
5 | CNO Global Funding | 2.650% | 1/6/29 | 1,115 | 1,071 | |
Comcast Corp. | 3.950% | 10/15/25 | 255 | 269 | ||
Comcast Corp. | 6.500% | 11/15/35 | 156 | 209 | ||
Comcast Corp. | 4.000% | 3/1/48 | 20 | 21 | ||
5 | Comcast Corp. | 2.887% | 11/1/51 | 961 | 833 | |
Comcast Corp. | 4.049% | 11/1/52 | 6 | 6 | ||
Comcast Corp. | 2.650% | 8/15/62 | 130 | 103 | ||
5 | Comcast Corp. | 2.987% | 11/1/63 | 4 | 3 | |
CommonSpirit Health | 4.200% | 8/1/23 | 895 | 920 | ||
CommonSpirit Health | 3.347% | 10/1/29 | 145 | 147 | ||
CommonSpirit Health | 2.782% | 10/1/30 | 411 | 400 | ||
CommonSpirit Health | 4.187% | 10/1/49 | 310 | 327 | ||
CommonSpirit Health | 3.910% | 10/1/50 | 20 | 20 | ||
Conagra Brands Inc. | 1.375% | 11/1/27 | 420 | 386 | ||
Consolidated Edison Co. of New York Inc. | 3.200% | 12/1/51 | 420 | 375 | ||
Constellation Brands Inc. | 2.875% | 5/1/30 | 90 | 88 | ||
5 | Cox Communications Inc. | 3.500% | 8/15/27 | 1,255 | 1,299 | |
Crown Castle International Corp. | 2.100% | 4/1/31 | 1,695 | 1,527 | ||
CSX Corp. | 4.300% | 3/1/48 | 405 | 444 | ||
CubeSmart LP | 2.250% | 12/15/28 | 555 | 528 | ||
CVS Health Corp. | 2.875% | 6/1/26 | 1,000 | 1,012 | ||
CVS Health Corp. | 4.300% | 3/25/28 | 96 | 104 | ||
Dignity Health | 3.812% | 11/1/24 | 659 | 680 | ||
Dignity Health | 4.500% | 11/1/42 | 202 | 222 | ||
Discovery Communications LLC | 3.625% | 5/15/30 | 565 | 567 | ||
Dominion Energy South Carolina Inc. | 6.625% | 2/1/32 | 156 | 201 | ||
Dominion Energy South Carolina Inc. | 5.300% | 5/15/33 | 129 | 155 | ||
Dominion Energy South Carolina Inc. | 5.450% | 2/1/41 | 250 | 307 | ||
Dominion Energy South Carolina Inc. | 4.600% | 6/15/43 | 280 | 313 | ||
Duke Energy Corp. | 2.550% | 6/15/31 | 530 | 497 | ||
Duke Energy Progress LLC | 4.200% | 8/15/45 | 350 | 375 | ||
5 | Eastern Gas Transmission & Storage Inc. | 4.600% | 12/15/44 | 625 | 676 | |
Energy Transfer LP | 4.900% | 3/15/35 | 975 | 1,025 | ||
EPR Properties | 4.750% | 12/15/26 | 125 | 129 | ||
EPR Properties | 4.950% | 4/15/28 | 130 | 134 | ||
EPR Properties | 3.750% | 8/15/29 | 812 | 782 | ||
EPR Properties | 3.600% | 11/15/31 | 1,165 | 1,093 | ||
5 | Equitable Financial Life Global Funding | 1.400% | 7/7/25 | 100 | 96 | |
5 | Equitable Financial Life Global Funding | 1.300% | 7/12/26 | 600 | 570 | |
5 | Equitable Financial Life Global Funding | 1.400% | 8/27/27 | 565 | 530 | |
5 | ERAC USA Finance LLC | 3.300% | 12/1/26 | 235 | 242 | |
5 | ERAC USA Finance LLC | 4.500% | 2/15/45 | 295 | 324 | |
1 | Evergy Metro Inc. | 2.250% | 6/1/30 | 180 | 173 | |
Exxon Mobil Corp. | 2.275% | 8/16/26 | 865 | 869 | ||
8 | General Mills Inc. | 0.450% | 1/15/26 | 900 | 995 | |
General Motors Co. | 4.200% | 10/1/27 | 550 | 580 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
General Motors Co. | 5.000% | 10/1/28 | 1,095 | 1,195 | ||
5 | Genting New York LLC | 3.300% | 2/15/26 | 1,002 | 964 | |
Georgia Power Co. | 4.300% | 3/15/42 | 500 | 522 | ||
1 | Georgia Power Co. | 3.700% | 1/30/50 | 35 | 33 | |
Gilead Sciences Inc. | 4.600% | 9/1/35 | 420 | 475 | ||
Gilead Sciences Inc. | 2.800% | 10/1/50 | 670 | 567 | ||
1 | Goldman Sachs Group Inc. | 3.272% | 9/29/25 | 1,425 | 1,451 | |
Goldman Sachs Group Inc. | 1.431% | 3/9/27 | 1,310 | 1,238 | ||
1 | Goldman Sachs Group Inc. | 3.814% | 4/23/29 | 235 | 244 | |
1 | Goldman Sachs Group Inc. | 4.223% | 5/1/29 | 285 | 302 | |
Goldman Sachs Group Inc. | 2.615% | 4/22/32 | 420 | 397 | ||
Goldman Sachs Group Inc. | 2.383% | 7/21/32 | 545 | 505 | ||
Goldman Sachs Group Inc. | 2.650% | 10/21/32 | 1,055 | 1,001 | ||
5 | Gray Oak Pipeline LLC | 2.600% | 10/15/25 | 291 | 288 | |
5 | Gray Oak Pipeline LLC | 3.450% | 10/15/27 | 45 | 45 | |
Hess Corp. | 4.300% | 4/1/27 | 810 | 857 | ||
Hess Corp. | 7.300% | 8/15/31 | 590 | 751 | ||
Hess Corp. | 5.600% | 2/15/41 | 760 | 876 | ||
5 | Hyundai Capital America | 0.800% | 4/3/23 | 830 | 820 | |
Intel Corp. | 3.050% | 8/12/51 | 730 | 660 | ||
Intercontinental Exchange Inc. | 1.850% | 9/15/32 | 975 | 872 | ||
JPMorgan Chase & Co. | 0.563% | 2/16/25 | 1,735 | 1,684 | ||
JPMorgan Chase & Co. | 2.580% | 4/22/32 | 1,225 | 1,174 | ||
1 | JPMorgan Chase & Co. | 3.964% | 11/15/48 | 500 | 530 | |
1 | Kaiser Foundation Hospitals | 2.810% | 6/1/41 | 710 | 655 | |
Kaiser Foundation Hospitals | 4.875% | 4/1/42 | 55 | 66 | ||
5 | KeySpan Gas East Corp. | 2.742% | 8/15/26 | 500 | 497 | |
Kroger Co. | 4.450% | 2/1/47 | 220 | 239 | ||
Kroger Co. | 5.400% | 1/15/49 | 195 | 242 | ||
5 | Kyndryl Holdings Inc. | 3.150% | 10/15/31 | 1,600 | 1,453 | |
Marathon Oil Corp. | 6.600% | 10/1/37 | 820 | 1,032 | ||
Marsh & McLennan Cos. Inc. | 4.375% | 3/15/29 | 705 | 769 | ||
5 | Massachusetts Mutual Life Insurance Co. | 3.375% | 4/15/50 | 140 | 132 | |
McCormick & Co. Inc. | 2.500% | 4/15/30 | 140 | 135 | ||
Merck & Co. Inc. | 3.400% | 3/7/29 | 500 | 526 | ||
1 | Mercy Health | 3.555% | 8/1/27 | 535 | 550 | |
Microchip Technology Inc. | 0.972% | 2/15/24 | 1,080 | 1,053 | ||
Microsoft Corp. | 2.921% | 3/17/52 | 650 | 621 | ||
5 | Mid-Atlantic Interstate Transmission LLC | 4.100% | 5/15/28 | 913 | 969 | |
1,7 | Molson Coors International LP | 2.840% | 7/15/23 | 1,825 | 1,448 | |
8 | Mondelez International Inc. | 0.250% | 3/17/28 | 605 | 643 | |
1 | Morgan Stanley | 0.864% | 10/21/25 | 1,750 | 1,680 | |
1 | Morgan Stanley | 3.125% | 7/27/26 | 2,100 | 2,140 | |
1 | Morgan Stanley | 3.772% | 1/24/29 | 175 | 182 | |
8 | Morgan Stanley | 0.497% | 2/7/31 | 675 | 686 | |
1 | Morgan Stanley | 2.511% | 10/20/32 | 495 | 468 | |
Morgan Stanley | 2.484% | 9/16/36 | 1,615 | 1,467 | ||
National Retail Properties Inc. | 3.900% | 6/15/24 | 400 | 414 | ||
NextEra Energy Capital Holdings Inc. | 1.900% | 6/15/28 | 665 | 632 | ||
5 | Niagara Mohawk Power Corp. | 1.960% | 6/27/30 | 670 | 620 | |
5 | Northwestern Mutual Life Insurance Co. | 3.850% | 9/30/47 | 280 | 282 | |
5 | Northwestern Mutual Life Insurance Co. | 3.625% | 9/30/59 | 12 | 11 | |
1 | Ochsner LSU Health System of North Louisiana | 2.510% | 5/15/31 | 545 | 502 | |
5 | Oglethorpe Power Corp. | 6.191% | 1/1/31 | 285 | 336 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Oglethorpe Power Corp. | 4.550% | 6/1/44 | 20 | 21 | ||
Oglethorpe Power Corp. | 4.250% | 4/1/46 | 81 | 81 | ||
Oracle Corp. | 2.875% | 3/25/31 | 1,015 | 969 | ||
Oracle Corp. | 4.000% | 11/15/47 | 265 | 243 | ||
Oracle Corp. | 3.600% | 4/1/50 | 500 | 434 | ||
Oracle Corp. | 3.950% | 3/25/51 | 515 | 472 | ||
Oracle Corp. | 3.850% | 4/1/60 | 145 | 125 | ||
PacifiCorp | 2.700% | 9/15/30 | 160 | 158 | ||
5 | Pennsylvania Electric Co. | 3.600% | 6/1/29 | 124 | 128 | |
5 | Penske Truck Leasing Co. LP | 4.250% | 1/17/23 | 1,125 | 1,148 | |
5 | Penske Truck Leasing Co. LP | 2.700% | 11/1/24 | 180 | 181 | |
5 | Penske Truck Leasing Co. LP | 3.950% | 3/10/25 | 740 | 769 | |
5 | Penske Truck Leasing Co. LP | 4.000% | 7/15/25 | 140 | 146 | |
Pfizer Inc. | 1.700% | 5/28/30 | 195 | 182 | ||
1 | PNC Bank NA | 3.250% | 1/22/28 | 600 | 621 | |
1 | Providence St. Joseph Health Obligated Group | 3.930% | 10/1/48 | 245 | 260 | |
8 | Public Storage | 0.500% | 9/9/30 | 615 | 614 | |
Raytheon Technologies Corp. | 3.950% | 8/16/25 | 310 | 327 | ||
Raytheon Technologies Corp. | 4.450% | 11/16/38 | 550 | 614 | ||
Realty Income Corp. | 3.400% | 1/15/28 | 365 | 377 | ||
Realty Income Corp. | 2.200% | 6/15/28 | 185 | 179 | ||
Realty Income Corp. | 3.100% | 12/15/29 | 550 | 555 | ||
Realty Income Corp. | 2.850% | 12/15/32 | 80 | 78 | ||
9 | Realty Income Corp. | 1.750% | 7/13/33 | 635 | 764 | |
9 | Realty Income Corp. | 2.500% | 1/14/42 | 255 | 311 | |
Royalty Pharma plc | 3.300% | 9/2/40 | 210 | 186 | ||
Royalty Pharma plc | 3.350% | 9/2/51 | 1,100 | 920 | ||
1 | San Diego Gas & Electric Co. | 1.700% | 10/1/30 | 710 | 645 | |
1 | San Diego Gas & Electric Co. | 4.100% | 6/15/49 | 174 | 184 | |
5 | SBA Tower Trust | 3.448% | 3/15/23 | 755 | 765 | |
5 | SBA Tower Trust | 1.884% | 1/15/26 | 110 | 107 | |
5 | SBA Tower Trust | 1.631% | 11/15/26 | 615 | 592 | |
1 | SCE Recovery Funding LLC | 0.861% | 11/15/31 | 240 | 225 | |
1 | SCE Recovery Funding LLC | 1.942% | 5/15/38 | 105 | 95 | |
1 | SCE Recovery Funding LLC | 2.510% | 11/15/43 | 60 | 54 | |
Sempra Energy | 3.250% | 6/15/27 | 1,000 | 1,022 | ||
Sierra Pacific Power Co. | 2.600% | 5/1/26 | 180 | 182 | ||
1 | Southern California Edison Co. | 3.700% | 8/1/25 | 30 | 31 | |
1 | Southern California Edison Co. | 2.950% | 2/1/51 | 515 | 434 | |
5 | Sprint Spectrum Co. LLC | 4.738% | 3/20/25 | 894 | 923 | |
1 | SSM Health Care Corp. | 3.823% | 6/1/27 | 380 | 405 | |
Teledyne Technologies Inc. | 2.750% | 4/1/31 | 490 | 471 | ||
8 | Thermo Fisher Scientific Finance I BV | 1.625% | 10/18/41 | 525 | 533 | |
T-Mobile USA Inc. | 2.050% | 2/15/28 | 1,185 | 1,128 | ||
5 | T-Mobile USA Inc. | 2.700% | 3/15/32 | 1,155 | 1,086 | |
1 | Toledo Hospital | 5.325% | 11/15/28 | 410 | 450 | |
Toledo Hospital | 5.750% | 11/15/38 | 150 | 167 | ||
1 | Truist Bank | 3.300% | 5/15/26 | 975 | 1,009 | |
Union Pacific Corp. | 3.750% | 2/5/70 | 190 | 189 | ||
1 | United Airlines Pass-Through Trust Class B Series 2018-1 | 4.600% | 3/1/26 | 55 | 54 | |
UnitedHealth Group Inc. | 3.850% | 6/15/28 | 415 | 445 | ||
UnitedHealth Group Inc. | 2.000% | 5/15/30 | 215 | 203 | ||
UnitedHealth Group Inc. | 4.625% | 7/15/35 | 90 | 104 | ||
US Bancorp | 2.491% | 11/3/36 | 569 | 531 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
8 | Verizon Communications Inc. | 1.250% | 4/8/30 | 750 | 832 | |
5 | Verizon Communications Inc. | 2.355% | 3/15/32 | 2,052 | 1,917 | |
8 | Verizon Communications Inc. | 1.500% | 9/19/39 | 600 | 608 | |
1,7 | Wells Fargo & Co. | 2.975% | 5/19/26 | 600 | 474 | |
1 | Wells Fargo & Co. | 4.300% | 7/22/27 | 325 | 347 | |
1 | Wells Fargo & Co. | 4.750% | 12/7/46 | 700 | 787 | |
Welltower Inc. | 4.000% | 6/1/25 | 325 | 340 | ||
119,316 | ||||||
Total Corporate Bonds (Cost $214,163) | 206,972 | |||||
Sovereign Bonds (5.9%) | ||||||
Australia (0.2%) | ||||||
1,10 | Commonwealth of Australia | 2.750% | 11/21/27 | 160 | 122 | |
1,10 | Commonwealth of Australia | 2.250% | 5/21/28 | 870 | 644 | |
1,10 | Commonwealth of Australia | 1.000% | 11/21/31 | 955 | 627 | |
1,393 | ||||||
Bermuda (0.0%) | ||||||
1,5 | Bermuda | 2.375% | 8/20/30 | 200 | 188 | |
Canada (0.9%) | ||||||
7 | Canadian Government Bond | 1.000% | 9/1/26 | 1,065 | 817 | |
7 | City of Montreal | 3.500% | 12/1/38 | 910 | 744 | |
7 | City of Toronto | 3.200% | 8/1/48 | 1,000 | 769 | |
7 | Municipal Finance Authority of British Columbia | 4.950% | 12/1/27 | 600 | 542 | |
7 | Province of Ontario | 2.900% | 6/2/28 | 815 | 668 | |
1,11 | Province of Ontario | 0.250% | 6/28/29 | 1,075 | 1,154 | |
7 | Regional Municipality of York | 2.150% | 6/22/31 | 500 | 380 | |
5,074 | ||||||
Chile (0.1%) | ||||||
1 | Corp. Nacional del Cobre de Chile | 3.625% | 8/1/27 | 800 | 819 | |
China (0.2%) | ||||||
1,5 | State Grid Overseas Investment BVI Ltd. | 2.750% | 5/4/22 | 1,110 | 1,112 | |
Colombia (0.2%) | ||||||
1 | Republic of Colombia | 4.000% | 2/26/24 | 1,045 | 1,061 | |
France (0.1%) | ||||||
1,5 | Electricite de France SA | 5.600% | 1/27/40 | 602 | 692 | |
Germany (0.2%) | ||||||
8 | Federal Republic of Germany | 0.250% | 8/15/28 | 1,150 | 1,320 | |
Japan (1.1%) | ||||||
1,12 | Japan | 0.100% | 3/20/31 | 321,150 | 2,783 | |
1,12 | Japan | 0.100% | 6/20/31 | 200,100 | 1,732 | |
1,12 | Japan | 0.100% | 9/20/31 | 47,950 | 414 | |
1,12 | Japan | 0.700% | 6/20/51 | 180,100 | 1,501 | |
6,430 | ||||||
Mexico (0.1%) | ||||||
1 | United Mexican States | 4.280% | 8/14/41 | 785 | 738 | |
Norway (0.2%) | ||||||
Equinor ASA | 3.000% | 4/6/27 | 1,215 | 1,247 | ||
Panama (0.1%) | ||||||
1,5 | Empresa de Transmision Electrica SA | 5.125% | 5/2/49 | 415 | 420 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Qatar (0.4%) | ||||||
1,5 | Qatar Energy | 2.250% | 7/12/31 | 480 | 455 | |
1,5 | Qatar Energy | 3.125% | 7/12/41 | 405 | 381 | |
1,5 | State of Qatar | 3.875% | 4/23/23 | 785 | 806 | |
1,5 | State of Qatar | 5.103% | 4/23/48 | 285 | 360 | |
1,5 | State of Qatar | 4.400% | 4/16/50 | 205 | 238 | |
2,240 | ||||||
Romania (0.1%) | ||||||
1,8 | Republic of Romania | 2.124% | 7/16/31 | 75 | 70 | |
1,5,8 | Republic of Romania | 2.000% | 4/14/33 | 467 | 403 | |
1,8 | Republic of Romania | 2.625% | 12/2/40 | 280 | 230 | |
703 | ||||||
Saudi Arabia (0.1%) | ||||||
1,5 | Saudi Arabian Oil Co. | 3.500% | 4/16/29 | 585 | 604 | |
Spain (0.2%) | ||||||
5,8 | Kingdom of Spain | 0.600% | 10/31/29 | 775 | 861 | |
Supranational (1.2%) | ||||||
8 | European Investment Bank | 0.000% | 11/15/27 | 795 | 880 | |
8 | European Stability Mechanism | 0.000% | 12/16/24 | 525 | 590 | |
8 | European Stability Mechanism | 0.000% | 12/15/26 | 775 | 862 | |
1,8 | European Union | 0.000% | 7/4/35 | 1,815 | 1,826 | |
1,8 | European Union | 0.200% | 6/4/36 | 2,475 | 2,540 | |
6,698 | ||||||
United Kingdom (0.5%) | ||||||
9 | United Kingdom | 3.500% | 1/22/45 | 1,565 | 2,836 | |
Total Sovereign Bonds (Cost $35,715) | 34,436 | |||||
Taxable Municipal Bonds (1.4%) | ||||||
United States (1.4%) | ||||||
Broward County FL Airport System Revenue | 3.477% | 10/1/43 | 80 | 80 | ||
Chicago IL Transit Authority Sales & Transfer Tax Receipts Revenue | 6.899% | 12/1/40 | 40 | 54 | ||
Connecticut GO | 2.000% | 7/1/23 | 135 | 136 | ||
Connecticut GO | 5.770% | 3/15/25 | 250 | 278 | ||
Dallas/Fort Worth International Airport Revenue | 3.089% | 11/1/40 | 60 | 60 | ||
Foothill-Eastern Transportation Corridor Agency CA Toll Road Revenue | 4.094% | 1/15/49 | 45 | 47 | ||
13 | Foothill-Eastern Transportation Corridor Agency CA Toll Road Revenue | 3.924% | 1/15/53 | 315 | 324 | |
Georgia Municipal Electric Power Authority Revenue | 6.637% | 4/1/57 | 478 | 686 | ||
Golden State Tobacco Securitization Corp. California Revenue | 2.746% | 6/1/34 | 20 | 20 | ||
Golden State Tobacco Securitization Corp. California Revenue | 3.293% | 6/1/42 | 40 | 39 | ||
Golden State Tobacco Securitization Corp. California Revenue | 3.000% | 6/1/46 | 95 | 96 | ||
Grand Parkway Transportation Corp. Texas System Toll Revenue | 3.236% | 10/1/52 | 210 | 200 | ||
Illinois GO | 5.100% | 6/1/33 | 2,215 | 2,444 | ||
13 | Kansas Development Finance Authority Revenue (Employees Retirement System) | 5.371% | 5/1/26 | 645 | 693 | |
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.200% | 11/15/26 | 15 | 16 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.668% | 11/15/39 | 155 | 206 | ||
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.814% | 11/15/40 | 380 | 523 | ||
New York State Dormitory Authority Revenue (Personal Income Tax) | 3.110% | 2/15/39 | 210 | 213 | ||
14 | Philadelphia PA Authority for Industrial Development Revenue | 6.550% | 10/15/28 | 525 | 643 | |
Port Authority of New York & New Jersey Revenue | 3.175% | 7/15/60 | 440 | 410 | ||
Sales Tax Securitization Corp. Illinois Revenue | 4.787% | 1/1/48 | 545 | 642 | ||
Total Taxable Municipal Bonds (Cost $7,596) | 7,810 | |||||
Shares | ||||||
Temporary Cash Investments (5.4%) | ||||||
Money Market Fund (5.1%) | ||||||
15 | Vanguard Market Liquidity Fund | 0.138% | 297,469 | 29,744 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (0.3%) | ||||||
United States Treasury Bill | 0.848% | 1/26/23 | 1,755 | 1,741 | ||
Total Temporary Cash Investments (Cost $31,485) | 31,485 | |||||
Total Investments (100.6%) (Cost $552,965) | 585,866 | |||||
Other Assets and Liabilities—Net (-0.6%) | (3,360) | |||||
Net Assets (100%) | 582,506 |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
2 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
3 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 28, 2022. |
4 | Securities with a value of $964,000 have been segregated as initial margin for open futures contracts. |
5 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2022, the aggregate value was $72,297,000, representing 12.4% of net assets. |
6 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
7 | Face amount denominated in Canadian dollars. |
8 | Face amount denominated in euro. |
9 | Face amount denominated in British pounds. |
10 | Face amount denominated in Australian dollars. |
11 | Face amount denominated in Swiss francs. |
12 | Face amount denominated in Japanese yen. |
13 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
14 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
15 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
1M—1-month. | |
3M—3-month. | |
GO—General Obligation Bond. | |
LIBOR—London Interbank Offered Rate. | |
REMICS—Real Estate Mortgage Investment Conduits. | |
SOFR30A—30 Day Average Secured Overnight Financing Rate. | |
UMBS—Uniform Mortgage-Backed Securities. | |
USD—U.S. dollar. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
2-Year U.S. Treasury Note | June 2022 | 24 | 5,165 | 11 |
Futures Contracts (continued) | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
5-Year U.S. Treasury Note | June 2022 | 119 | 14,075 | 69 |
Euro-Bobl | March 2022 | 94 | 13,898 | (201) |
Euro-BTP | March 2022 | 2 | 317 | 4 |
Euro-Buxl | March 2022 | 18 | 3,992 | (280) |
Euro-OAT | March 2022 | 9 | 1,597 | (73) |
Euro-Schatz | March 2022 | 70 | 8,790 | (14) |
Long Gilt | June 2022 | 10 | 1,651 | 11 |
Ultra Long U.S. Treasury Bond | June 2022 | 2 | 372 | 1 |
(472) | ||||
Short Futures Contracts | ||||
10-Year U.S. Treasury Note | June 2022 | (305) | (38,868) | (373) |
Euro-Bund | March 2022 | (12) | (2,248) | (12) |
Ultra 10-Year U.S. Treasury Note | June 2022 | (40) | (5,653) | (72) |
(457) | ||||
(929) |
Forward Currency Contracts | |||||||
Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
Counterparty | Receive | Deliver | |||||
JPMorgan Chase Bank, N.A. | 3/31/22 | EUR | 2,074 | USD | 2,332 | — | (4) |
JPMorgan Chase Bank, N.A. | 3/31/22 | GBP | 253 | USD | 340 | — | — |
Goldman Sachs International | 3/31/22 | USD | 5,097 | AUD | 7,052 | — | (27) |
Goldman Sachs International | 3/31/22 | USD | 10,513 | CAD | 13,413 | — | (71) |
Bank of America, N.A. | 3/31/22 | USD | 1,660 | CHF | 1,522 | — | (2) |
JPMorgan Chase Bank, N.A. | 3/31/22 | USD | 62,263 | EUR | 54,839 | 694 | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | USD | 14,203 | GBP | 10,483 | 136 | — |
Bank of America, N.A. | 3/31/22 | AUD | 1,970 | GBP | 1,047 | 26 | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | EUR | 291 | GBP | 244 | — | (1) |
Goldman Sachs International | 3/31/22 | USD | 260 | HKD | 2,030 | — | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | USD | 5,384 | JPY | 619,257 | — | (7) |
Forward Currency Contracts (continued) | |||||||
Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
Counterparty | Receive | Deliver | |||||
Bank of America, N.A. | 3/31/22 | AUD | 2,532 | JPY | 209,400 | 17 | — |
JPMorgan Chase Bank, N.A. | 3/31/22 | GBP | 417 | JPY | 65,000 | — | (6) |
873 | (118) |
AUD—Australian dollar. |
CAD—Canadian dollar. |
CHF—Swiss franc. |
EUR—euro. |
GBP—British pound. |
HKD—Hong Kong dollar. |
JPY—Japanese yen. |
USD—U.S. dollar. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $523,221) | 556,122 |
Affiliated Issuers (Cost $29,744) | 29,744 |
Total Investments in Securities | 585,866 |
Investment in Vanguard | 19 |
Foreign Currency, at Value (Cost $7,801) | 7,800 |
Receivables for Investment Securities Sold | 9,129 |
Receivables for Accrued Income | 2,921 |
Receivables for Capital Shares Issued | 2,366 |
Unrealized Appreciation—Forward Currency Contracts | 873 |
Total Assets | 608,974 |
Liabilities | |
Due to Custodian | 720 |
Payables for Investment Securities Purchased | 24,327 |
Payables for Capital Shares Redeemed | 864 |
Payables to Investment Advisor | 176 |
Payables to Vanguard | 40 |
Variation Margin Payable—Futures Contracts | 223 |
Unrealized Depreciation—Forward Currency Contracts | 118 |
Total Liabilities | 26,468 |
Net Assets | 582,506 |
Statement of Assets and Liabilities (continued) | |
At February 28, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 554,941 |
Total Distributable Earnings (Loss) | 27,565 |
Net Assets | 582,506 |
Investor Shares—Net Assets | |
Applicable to 4,244,658 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 91,611 |
Net Asset Value Per Share—Investor Shares | $21.58 |
Admiral Shares—Net Assets | |
Applicable to 18,192,381 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 490,895 |
Net Asset Value Per Share—Admiral Shares | $26.98 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends 1 | 2,712 |
Interest 2 | 3,358 |
Securities Lending—Net | 3 |
Total Income | 6,073 |
Expenses | |
Investment Advisory Fees—Note B | |
Basic Fee | 345 |
Performance Adjustment | (10) |
The Vanguard Group—Note C | |
Management and Administrative—Investor Shares | 120 |
Management and Administrative—Admiral Shares | 365 |
Marketing and Distribution—Investor Shares | 6 |
Marketing and Distribution—Admiral Shares | 15 |
Custodian Fees | 15 |
Shareholders’ Reports—Investor Shares | 5 |
Shareholders’ Reports—Admiral Shares | 9 |
Trustees’ Fees and Expenses | — |
Other Expenses | 8 |
Total Expenses | 878 |
Net Investment Income | 5,195 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | 2,186 |
Futures Contracts | 1,765 |
Forward Currency Contracts | 3,605 |
Foreign Currencies | (344) |
Realized Net Gain (Loss) | 7,212 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (21,925) |
Futures Contracts | (976) |
Forward Currency Contracts | 1,215 |
Foreign Currencies | (3) |
Change in Unrealized Appreciation (Depreciation) | (21,689) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (9,282) |
1 | Dividends are net of foreign withholding taxes of $199,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $10,000, ($4,000), less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 5,195 | 11,340 | |
Realized Net Gain (Loss) | 7,212 | 11,762 | |
Change in Unrealized Appreciation (Depreciation) | (21,689) | 29,660 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (9,282) | 52,762 | |
Distributions | |||
Investor Shares | (1,137) | (1,540) | |
Admiral Shares | (6,630) | (8,376) | |
Total Distributions | (7,767) | (9,916) | |
Capital Share Transactions | |||
Investor Shares | 2,775 | 3,358 | |
Admiral Shares | 17,796 | 62,852 | |
Net Increase (Decrease) from Capital Share Transactions | 20,571 | 66,210 | |
Total Increase (Decrease) | 3,522 | 109,056 | |
Net Assets | |||
Beginning of Period | 578,984 | 469,928 | |
End of Period | 582,506 | 578,984 |
Investor Shares | |||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | October 18, 20171 to August 31, 2018 | ||
2021 | 2020 | 2019 | |||
Net Asset Value, Beginning of Period | $22.22 | $20.42 | $20.16 | $19.87 | $20.00 |
Investment Operations | |||||
Net Investment Income2 | .186 | .446 | .453 | .513 | .443 |
Net Realized and Unrealized Gain (Loss) on Investments | (.541) | 1.747 | .263 | .529 | (.269) |
Total from Investment Operations | (.355) | 2.193 | .716 | 1.042 | .174 |
Distributions | |||||
Dividends from Net Investment Income | (.285) | (.393) | (.456) | (.473) | (.304) |
Distributions from Realized Capital Gains | — | — | — | (.279) | — |
Total Distributions | (.285) | (.393) | (.456) | (.752) | (.304) |
Net Asset Value, End of Period | $21.58 | $22.22 | $20.42 | $20.16 | $19.87 |
Total Return3 | -1.61% | 10.83% | 3.66% | 5.50% | 0.88% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $92 | $91 | $81 | $85 | $93 |
Ratio of Total Expenses to Average Net Assets4 | 0.42% | 0.41% | 0.41% | 0.42% | 0.43% 5,6 |
Ratio of Net Investment Income to Average Net Assets | 1.71% | 2.09% | 2.27% | 2.63% | 2.68% 5 |
Portfolio Turnover Rate | 60% 7 | 99% 7 | 72% 7 | 90% | 39% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were held in cash. Performance measurement began November 2, 2017, the first business day after the subscription period, at a net asset value of $20.00. |
2 | Calculated based on average shares outstanding. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | Includes performance-based investment advisory fee increases (decreases) of (0.00%), (0.01%), (0.01%), and (0.01%). Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 | Annualized. |
6 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.42%. |
7 | Includes 21%, 33%, and 1%, respectively, attributable to mortgage-dollar-roll activity. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | October 18, 20171 to August 31, 2018 | ||
2021 | 2020 | 2019 | |||
Net Asset Value, Beginning of Period | $27.78 | $25.53 | $25.20 | $24.84 | $25.00 |
Investment Operations | |||||
Net Investment Income2 | .251 | .594 | .592 | .666 | .577 |
Net Realized and Unrealized Gain (Loss) on Investments | (.675) | 2.178 | .334 | .658 | (.341) |
Total from Investment Operations | (.424) | 2.772 | .926 | 1.324 | .236 |
Distributions | |||||
Dividends from Net Investment Income | (.376) | (.522) | (.596) | (.616) | (.396) |
Distributions from Realized Capital Gains | — | — | — | (.348) | — |
Total Distributions | (.376) | (.522) | (.596) | (.964) | (.396) |
Net Asset Value, End of Period | $26.98 | $27.78 | $25.53 | $25.20 | $24.84 |
Total Return3 | -1.54% | 10.96% | 3.79% | 5.60% | 0.96% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $491 | $488 | $389 | $379 | $408 |
Ratio of Total Expenses to Average Net Assets4 | 0.29% | 0.28% | 0.31% | 0.32% | 0.33% 5,6 |
Ratio of Net Investment Income to Average Net Assets | 1.85% | 2.22% | 2.37% | 2.73% | 2.78% 5 |
Portfolio Turnover Rate | 60% 7 | 99% 7 | 72% 7 | 90% | 39% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were held in cash. Performance measurement began November 2, 2017, the first business day after the subscription period, at a net asset value of $25.00. |
2 | Calculated based on average shares outstanding. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | Includes performance-based investment advisory fee increases (decreases) of (0.00%), (0.01%), (0.01%), and (0.01%). Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 | Annualized. |
6 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.32%. |
7 | Includes 21%, 33%, and 1%, respectively, attributable to mortgage-dollar-roll activity. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks—North and South America | 114,746 | — | — | 114,746 |
Common Stocks—Other | — | 104,121 | — | 104,121 |
U.S. Government and Agency Obligations | — | 71,557 | — | 71,557 |
Asset-Backed/Commercial Mortgage-Backed Securities | — | 14,739 | — | 14,739 |
Corporate Bonds | — | 206,972 | — | 206,972 |
Sovereign Bonds | — | 34,436 | — | 34,436 |
Taxable Municipal Bonds | — | 7,810 | — | 7,810 |
Temporary Cash Investments | 29,744 | 1,741 | — | 31,485 |
Total | 144,490 | 441,376 | — | 585,866 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 96 | — | — | 96 |
Forward Currency Contracts | — | 873 | — | 873 |
Total | 96 | 873 | — | 969 |
Liabilities | ||||
Futures Contracts1 | 1,025 | — | — | 1,025 |
Forward Currency Contracts | — | 118 | — | 118 |
Total | 1,025 | 118 | — | 1,143 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Statement of Assets and Liabilities | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
Unrealized Appreciation—Futures Contracts1 | 96 | — | 96 |
Unrealized Appreciation—Forward Currency Contracts | — | 873 | 873 |
Total Assets | 96 | 873 | 969 |
Unrealized Depreciation—Futures Contracts1 | 1,025 | — | 1,025 |
Unrealized Depreciation—Forward Currency Contracts | — | 118 | 118 |
Total Liabilities | 1,025 | 118 | 1,143 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized Net Gain (Loss) on Derivatives | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
Futures Contracts | 1,765 | — | 1,765 |
Forward Currency Contracts | — | 3,605 | 3,605 |
Realized Net Gain (Loss) on Derivatives | 1,765 | 3,605 | 5,370 |
Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
Futures Contracts | (976) | — | (976) |
Forward Currency Contracts | — | 1,215 | 1,215 |
Change in Unrealized Appreciation (Depreciation) on Derivatives | (976) | 1,215 | 239 |
Amount ($000) | |
Tax Cost | 553,801 |
Gross Unrealized Appreciation | 49,038 |
Gross Unrealized Depreciation | (17,147) |
Net Unrealized Appreciation (Depreciation) | 31,891 |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 21,430 | 976 | 37,147 | 1,733 | |
Issued in Lieu of Cash Distributions | 975 | 45 | 1,323 | 62 | |
Redeemed | (19,630) | (893) | (35,112) | (1,653) | |
Net Increase (Decrease)—Investor Shares | 2,775 | 128 | 3,358 | 142 | |
Admiral Shares | |||||
Issued | 89,231 | 3,255 | 169,389 | 6,323 | |
Issued in Lieu of Cash Distributions | 5,323 | 195 | 7,025 | 263 | |
Redeemed | (76,758) | (2,804) | (113,562) | (4,268) | |
Net Increase (Decrease)—Admiral Shares | 17,796 | 646 | 62,852 | 2,318 |
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• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
ESG U.S. Stock ETF | Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period |
Based on Actual Fund Return | $1,000.00 | $ 938.90 | $0.43 |
Based on Hypothetical 5% Yearly Return | 1,000.00 | 1,024.35 | 0.45 |
Basic Materials | 2.1% |
Consumer Discretionary | 16.5 |
Consumer Staples | 4.5 |
Energy | 0.2 |
Financials | 11.3 |
Health Care | 13.8 |
Industrials | 10.7 |
Real Estate | 3.9 |
Technology | 32.5 |
Telecommunications | 3.3 |
Utilities | 1.2 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.8%) | ||||||
Basic Materials (2.1%) | ||||||
Linde plc | 87,311 | 25,603 | ||||
Newmont Corp. | 136,080 | 9,009 | ||||
Air Products and Chemicals Inc. | 37,556 | 8,874 | ||||
Dow Inc. | 126,665 | 7,468 | ||||
Nucor Corp. | 48,241 | 6,349 | ||||
International Flavors & Fragrances Inc. | 42,995 | 5,718 | ||||
Fastenal Co. | 96,492 | 4,965 | ||||
LyondellBasell Industries NV Class A | 44,739 | 4,350 | ||||
Albemarle Corp. | 19,892 | 3,897 | ||||
Mosaic Co. | 62,985 | 3,302 | ||||
CF Industries Holdings Inc. | 36,465 | 2,961 | ||||
International Paper Co. | 65,238 | 2,840 | ||||
Eastman Chemical Co. | 22,795 | 2,701 | ||||
Celanese Corp. | 18,274 | 2,545 | ||||
FMC Corp. | 21,682 | 2,542 | ||||
Avery Dennison Corp. | 13,922 | 2,453 | ||||
Alcoa Corp. | 32,107 | 2,419 | ||||
Steel Dynamics Inc. | 31,574 | 2,229 | ||||
Reliance Steel & Aluminum Co. | 10,515 | 2,007 | ||||
* | Cleveland-Cliffs Inc. | 78,091 | 1,746 | |||
Huntsman Corp. | 35,223 | 1,424 | ||||
Royal Gold Inc. | 11,442 | 1,387 | ||||
United States Steel Corp. | 46,772 | 1,273 | ||||
Scotts Miracle-Gro Co. | 7,121 | 997 | ||||
Valvoline Inc. | 30,643 | 991 | ||||
Element Solutions Inc. | 39,099 | 961 | ||||
* | Univar Solutions Inc. | 29,736 | 913 | |||
* | Livent Corp. | 38,517 | 907 | |||
UFP Industries Inc. | 10,460 | 897 | ||||
Ashland Global Holdings Inc. | 9,208 | 850 | ||||
Avient Corp. | 16,219 | 850 | ||||
Balchem Corp. | 5,735 | 793 | ||||
Cabot Corp. | 9,822 | 719 | ||||
*,1 | MP Materials Corp. | 13,895 | 634 |
Shares | Market Value• ($000) | |||||
Sensient Technologies Corp. | 7,550 | 620 | ||||
Westlake Corp. | 5,467 | 603 | ||||
* | Arconic Corp. | 19,111 | 587 | |||
Mueller Industries Inc. | 9,781 | 558 | ||||
Boise Cascade Co. | 6,783 | 542 | ||||
Hecla Mining Co. | 90,013 | 518 | ||||
Quaker Chemical Corp. | 2,338 | 434 | ||||
Tronox Holdings plc Class A | 20,215 | 410 | ||||
* | Ingevity Corp. | 5,863 | 400 | |||
NewMarket Corp. | 1,214 | 386 | ||||
* | Constellium SE Class A | 19,120 | 372 | |||
Innospec Inc. | 3,884 | 371 | ||||
Minerals Technologies Inc. | 4,904 | 343 | ||||
Stepan Co. | 3,297 | 342 | ||||
Compass Minerals International Inc. | 5,628 | 330 | ||||
Trinseo plc | 6,043 | 314 | ||||
Kaiser Aluminum Corp. | 2,630 | 254 | ||||
* | GCP Applied Technologies Inc. | 7,905 | 250 | |||
* | Kraton Corp. | 4,501 | 208 | |||
* | Coeur Mining Inc. | 47,019 | 202 | |||
* | Sylvamo Corp. | 4,991 | 174 | |||
* | Century Aluminum Co. | 6,526 | 154 | |||
* | Piedmont Lithium Inc. | 2,823 | 148 | |||
Schweitzer-Mauduit International Inc. | 4,127 | 129 | ||||
Orion Engineered Carbons SA | 7,841 | 122 | ||||
Neenah Inc. | 2,144 | 84 | ||||
126,429 | ||||||
Consumer Discretionary (16.4%) | ||||||
* | Amazon.com Inc. | 73,763 | 226,545 | |||
* | Tesla Inc. | 137,339 | 119,544 | |||
Home Depot Inc. | 180,134 | 56,892 | ||||
* | Walt Disney Co. | 308,095 | 45,740 | |||
Costco Wholesale Corp. | 74,998 | 38,943 | ||||
McDonald's Corp. | 126,371 | 30,932 | ||||
* | Netflix Inc. | 73,533 | 29,010 | |||
NIKE Inc. Class B | 209,860 | 28,656 |
Shares | Market Value• ($000) | |||||
Lowe's Cos. Inc. | 117,495 | 25,973 | ||||
Starbucks Corp. | 199,772 | 18,337 | ||||
Target Corp. | 82,927 | 16,566 | ||||
* | Booking Holdings Inc. | 6,948 | 15,093 | |||
TJX Cos. Inc. | 204,148 | 13,494 | ||||
Ford Motor Co. | 662,847 | 11,640 | ||||
Estee Lauder Cos. Inc. Class A | 38,890 | 11,524 | ||||
Activision Blizzard Inc. | 132,140 | 10,769 | ||||
* | Uber Technologies Inc. | 280,925 | 10,122 | |||
* | MercadoLibre Inc. | 8,322 | 9,376 | |||
Dollar General Corp. | 39,503 | 7,835 | ||||
* | Chipotle Mexican Grill Inc. | 4,913 | 7,484 | |||
* | O'Reilly Automotive Inc. | 11,306 | 7,340 | |||
* | AutoZone Inc. | 3,515 | 6,550 | |||
Electronic Arts Inc. | 47,899 | 6,231 | ||||
* | Lululemon Athletica Inc. | 19,290 | 6,172 | |||
Yum! Brands Inc. | 49,740 | 6,097 | ||||
* | Aptiv plc | 45,897 | 5,941 | |||
eBay Inc. | 106,297 | 5,803 | ||||
Ross Stores Inc. | 59,385 | 5,427 | ||||
* | Dollar Tree Inc. | 37,839 | 5,376 | |||
* | Expedia Group Inc. | 24,675 | 4,839 | |||
Lennar Corp. Class A | 47,542 | 4,273 | ||||
Best Buy Co. Inc. | 41,614 | 4,022 | ||||
Tractor Supply Co. | 19,238 | 3,920 | ||||
* | Spotify Technology SA | 24,265 | 3,790 | |||
* | Etsy Inc. | 24,354 | 3,772 | |||
Yum China Holdings Inc. | 72,200 | 3,756 | ||||
* | Ulta Beauty Inc. | 9,009 | 3,374 | |||
VF Corp. | 55,195 | 3,202 | ||||
Darden Restaurants Inc. | 22,002 | 3,195 | ||||
Paramount Global Class B | 103,985 | 3,183 | ||||
* | Take-Two Interactive Software Inc. | 19,454 | 3,152 | |||
Pool Corp. | 6,694 | 3,070 | ||||
* | CarMax Inc. | 27,697 | 3,028 | |||
Omnicom Group Inc. | 35,252 | 2,957 | ||||
Genuine Parts Co. | 23,821 | 2,910 | ||||
Garmin Ltd. | 25,661 | 2,834 | ||||
* | Live Nation Entertainment Inc. | 23,304 | 2,816 | |||
Fox Corp. Class A | 65,872 | 2,755 | ||||
Domino's Pizza Inc. | 6,099 | 2,636 | ||||
* | Burlington Stores Inc. | 11,282 | 2,548 | |||
* | NVR Inc. | 510 | 2,529 | |||
Interpublic Group of Cos. Inc. | 66,180 | 2,435 | ||||
* | Liberty Media Corp.-Liberty Formula One Class C | 37,074 | 2,251 | |||
Bath & Body Works Inc. | 41,002 | 2,188 | ||||
LKQ Corp. | 46,577 | 2,187 | ||||
Advance Auto Parts Inc. | 10,545 | 2,156 | ||||
Hasbro Inc. | 21,861 | 2,122 | ||||
* | Lyft Inc. Class A | 54,122 | 2,107 |
Shares | Market Value• ($000) | |||||
PulteGroup Inc. | 42,250 | 2,098 | ||||
Whirlpool Corp. | 10,039 | 2,021 | ||||
Tapestry Inc. | 47,981 | 1,962 | ||||
Williams-Sonoma Inc. | 12,482 | 1,808 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 35,261 | 1,776 | |||
Vail Resorts Inc. | 6,683 | 1,741 | ||||
Lithia Motors Inc. Class A | 5,028 | 1,714 | ||||
* | Zynga Inc. Class A | 187,607 | 1,703 | |||
* | Carvana Co. | 11,229 | 1,690 | |||
* | Capri Holdings Ltd. | 24,899 | 1,687 | |||
* | Floor & Decor Holdings Inc. Class A | 17,500 | 1,673 | |||
BorgWarner Inc. | 40,705 | 1,669 | ||||
Kohl's Corp. | 29,803 | 1,658 | ||||
Service Corp. International | 26,670 | 1,623 | ||||
Lear Corp. | 10,283 | 1,618 | ||||
Newell Brands Inc. | 66,376 | 1,576 | ||||
* | Five Below Inc. | 9,566 | 1,565 | |||
* | Wayfair Inc. Class A | 10,919 | 1,538 | |||
Macy's Inc. | 57,644 | 1,494 | ||||
* | Discovery Inc. Class A | 51,865 | 1,455 | |||
Aramark | 39,172 | 1,448 | ||||
* | BJ's Wholesale Club Holdings Inc. | 22,898 | 1,440 | |||
* | Deckers Outdoor Corp. | 4,693 | 1,355 | |||
* | Bright Horizons Family Solutions Inc. | 10,320 | 1,348 | |||
Autoliv Inc. | 14,575 | 1,283 | ||||
* | Avis Budget Group Inc. | 6,901 | 1,266 | |||
* | SiteOne Landscape Supply Inc. | 7,298 | 1,258 | |||
Nexstar Media Group Inc. Class A | 6,695 | 1,239 | ||||
New York Times Co. Class A | 28,054 | 1,234 | ||||
Rollins Inc. | 37,651 | 1,229 | ||||
* | Planet Fitness Inc. Class A | 14,449 | 1,223 | |||
Gentex Corp. | 40,239 | 1,218 | ||||
* | Delta Air Lines Inc. | 29,910 | 1,194 | |||
PVH Corp. | 12,190 | 1,193 | ||||
* | RH | 2,965 | 1,192 | |||
Texas Roadhouse Inc. Class A | 12,334 | 1,171 | ||||
Dick's Sporting Goods Inc. | 10,722 | 1,126 | ||||
* | Southwest Airlines Co. | 25,697 | 1,126 | |||
Ralph Lauren Corp. | 8,337 | 1,101 | ||||
*,1 | QuantumScape Corp. Class A | 67,384 | 1,088 | |||
Nielsen Holdings plc | 62,100 | 1,082 | ||||
Harley-Davidson Inc. | 26,046 | 1,076 | ||||
Tempur Sealy International Inc. | 31,952 | 1,055 | ||||
* | Skechers U.S.A. Inc. Class A | 22,796 | 1,048 |
Shares | Market Value• ($000) | |||||
Toll Brothers Inc. | 19,266 | 1,045 | ||||
* | Luminar Technologies Inc. Class A | 70,586 | 990 | |||
* | YETI Holdings Inc. | 16,073 | 989 | |||
* | Peloton Interactive Inc. Class A | 33,977 | 987 | |||
* | GameStop Corp. Class A | 7,845 | 968 | |||
1 | Sirius XM Holdings Inc. | 154,305 | 951 | |||
Hanesbrands Inc. | 60,472 | 934 | ||||
* | Discovery Inc. Class C | 33,239 | 930 | |||
TEGNA Inc. | 40,518 | 929 | ||||
* | Terminix Global Holdings Inc. | 20,749 | 883 | |||
* | Helen of Troy Ltd. | 4,239 | 872 | |||
Leggett & Platt Inc. | 23,436 | 869 | ||||
Thor Industries Inc. | 9,548 | 864 | ||||
* | Fox Factory Holding Corp. | 7,276 | 859 | |||
* | IAA Inc. | 22,916 | 842 | |||
* | AutoNation Inc. | 7,061 | 810 | |||
* | Crocs Inc. | 9,670 | 810 | |||
* | Asbury Automotive Group Inc. | 4,101 | 796 | |||
* | Hilton Grand Vacations Inc. | 15,282 | 793 | |||
H&R Block Inc. | 31,925 | 792 | ||||
* | Under Armour Inc. Class C | 49,251 | 770 | |||
* | Sabre Corp. | 69,250 | 757 | |||
* | Adient plc | 16,549 | 741 | |||
* | Cardlytics Inc. | 12,585 | 730 | |||
* | Goodyear Tire & Rubber Co. | 46,662 | 723 | |||
* | Victoria's Secret & Co. | 13,425 | 720 | |||
* | Farfetch Ltd. Class A | 37,760 | 719 | |||
Wingstop Inc. | 4,936 | 717 | ||||
Carter's Inc. | 7,389 | 714 | ||||
* | Nordstrom Inc. | 34,362 | 713 | |||
Wendy's Co. | 29,886 | 680 | ||||
American Eagle Outfitters Inc. | 31,852 | 671 | ||||
Gap Inc. | 45,970 | 669 | ||||
* | United Airlines Holdings Inc. | 15,000 | 666 | |||
* | Dave & Buster's Entertainment Inc. | 14,942 | 648 | |||
* | Taylor Morrison Home Corp. Class A | 21,971 | 648 | |||
* | Cinemark Holdings Inc. | 36,694 | 644 | |||
Signet Jewelers Ltd. | 9,113 | 642 | ||||
* | Meritage Homes Corp. | 6,501 | 641 | |||
* | Veoneer Inc. | 17,912 | 635 | |||
* | Madison Square Garden Sports Corp. | 3,646 | 631 | |||
Steven Madden Ltd. | 14,575 | 622 | ||||
* | Grand Canyon Education Inc. | 7,157 | 621 | |||
Columbia Sportswear Co. | 6,592 | 611 | ||||
* | Skyline Champion Corp. | 8,982 | 604 |
Shares | Market Value• ($000) | |||||
*,1 | Fisker Inc. | 49,456 | 603 | |||
* | Visteon Corp. | 4,996 | 600 | |||
* | Six Flags Entertainment Corp. | 13,705 | 598 | |||
* | SeaWorld Entertainment Inc. | 8,614 | 598 | |||
Papa John's International Inc. | 5,414 | 578 | ||||
Group 1 Automotive Inc. | 3,066 | 558 | ||||
KB Home | 14,338 | 554 | ||||
* | TripAdvisor Inc. | 21,754 | 553 | |||
* | Callaway Golf Co. | 22,111 | 547 | |||
Fox Corp. Class B | 14,212 | 544 | ||||
LCI Industries | 4,227 | 526 | ||||
* | National Vision Holdings Inc. | 13,945 | 511 | |||
Dana Inc. | 27,342 | 509 | ||||
Foot Locker Inc. | 15,790 | 499 | ||||
* | Coty Inc. Class A | 54,337 | 498 | |||
MillerKnoll Inc. | 12,694 | 494 | ||||
Cracker Barrel Old Country Store Inc. | 3,660 | 491 | ||||
Penske Automotive Group Inc. | 4,703 | 462 | ||||
* | Frontdoor Inc. | 15,118 | 454 | |||
* | Cavco Industries Inc. | 1,632 | 445 | |||
* | Leslie's Inc. | 20,592 | 439 | |||
* | Gentherm Inc. | 5,142 | 436 | |||
* | Abercrombie & Fitch Co. Class A | 11,306 | 431 | |||
* | LGI Homes Inc. | 3,400 | 429 | |||
* | American Airlines Group Inc. | 24,700 | 426 | |||
* | Brinker International Inc. | 9,862 | 420 | |||
* | Playtika Holding Corp. | 19,500 | 402 | |||
Graham Holdings Co. Class B | 666 | 400 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 7,915 | 398 | |||
* | Tri Pointe Homes Inc. | 17,806 | 398 | |||
World Wrestling Entertainment Inc. Class A | 6,627 | 393 | ||||
Kontoor Brands Inc. | 7,888 | 391 | ||||
* | Academy Sports & Outdoors Inc. | 11,889 | 385 | |||
* | Children's Place Inc. | 6,091 | 383 | |||
* | Chegg Inc. | 12,120 | 379 | |||
* | Under Armour Inc. Class A | 21,058 | 377 | |||
* | Dorman Products Inc. | 4,005 | 374 | |||
MDC Holdings Inc. | 8,398 | 372 | ||||
* | iHeartMedia Inc. Class A | 17,200 | 369 | |||
* | iRobot Corp. | 5,868 | 365 | |||
* | KAR Auction Services Inc. | 19,057 | 352 | |||
John Wiley & Sons Inc. Class A | 6,932 | 349 |
Shares | Market Value• ($000) | |||||
* | PROG Holdings Inc. | 11,306 | 346 | |||
* | ODP Corp. | 7,800 | 343 | |||
Rush Enterprises Inc. Class A | 6,585 | 342 | ||||
* | MakeMyTrip Ltd. | 12,163 | 342 | |||
* | Bloomin' Brands Inc. | 13,739 | 338 | |||
Big Lots Inc. | 9,468 | 329 | ||||
Strategic Education Inc. | 5,561 | 328 | ||||
* | Knowles Corp. | 14,864 | 324 | |||
Gray Television Inc. | 13,675 | 320 | ||||
Rent-A-Center Inc. | 10,848 | 308 | ||||
* | Lions Gate Entertainment Corp. Class B | 21,472 | 306 | |||
* | Cheesecake Factory Inc. | 7,127 | 305 | |||
* | Urban Outfitters Inc. | 11,027 | 303 | |||
* | Sally Beauty Holdings Inc. | 17,538 | 303 | |||
Winnebago Industries Inc. | 4,724 | 303 | ||||
* | Driven Brands Holdings Inc. | 10,300 | 302 | |||
* | Alaska Air Group Inc. | 5,337 | 300 | |||
* | AMC Networks Inc. Class A | 7,200 | 298 | |||
HNI Corp. | 6,953 | 283 | ||||
PriceSmart Inc. | 3,798 | 276 | ||||
* | Central Garden & Pet Co. Class A | 6,206 | 273 | |||
Wolverine World Wide Inc. | 11,580 | 267 | ||||
* | Sleep Number Corp. | 3,929 | 258 | |||
Jack in the Box Inc. | 2,957 | 255 | ||||
Monro Inc. | 5,461 | 255 | ||||
Inter Parfums Inc. | 2,695 | 250 | ||||
Dine Brands Global Inc. | 2,864 | 240 | ||||
Acushnet Holdings Corp. | 5,465 | 239 | ||||
La-Z-Boy Inc. | 8,038 | 235 | ||||
Guess? Inc. | 10,338 | 226 | ||||
Oxford Industries Inc. | 2,441 | 216 | ||||
* | Ollie's Bargain Outlet Holdings Inc. | 4,638 | 200 | |||
* | Sonos Inc. | 7,208 | 197 | |||
* | Adtalem Global Education Inc. | 9,362 | 195 | |||
* | EW Scripps Co. Class A | 8,770 | 195 | |||
* | WW International Inc. | 18,800 | 192 | |||
* | G-III Apparel Group Ltd. | 6,785 | 188 | |||
* | Spirit Airlines Inc. | 7,356 | 184 | |||
Buckle Inc. | 4,769 | 172 | ||||
* | Petco Health & Wellness Co. Inc. Class A | 9,500 | 166 | |||
* | JetBlue Airways Corp. | 10,721 | 164 | |||
* | American Axle & Manufacturing Holdings Inc. | 16,965 | 157 | |||
Scholastic Corp. | 3,651 | 154 | ||||
* | IMAX Corp. | 7,088 | 147 | |||
Laureate Education Inc. Class A | 13,355 | 145 |
Shares | Market Value• ($000) | |||||
Steelcase Inc. Class A | 11,401 | 139 | ||||
Matthews International Corp. Class A | 3,938 | 131 | ||||
* | Copa Holdings SA Class A | 1,435 | 122 | |||
* | Allegiant Travel Co. | 683 | 119 | |||
* | Liberty Media Corp.-Liberty Braves Class C | 4,761 | 118 | |||
* | Bed Bath & Beyond Inc. | 6,317 | 107 | |||
* | Shake Shack Inc. Class A | 1,341 | 100 | |||
* | Lions Gate Entertainment Corp. Class A | 5,342 | 82 | |||
Qurate Retail Inc. Class A | 13,976 | 77 | ||||
Aaron's Co. Inc. | 3,594 | 75 | ||||
* | SkyWest Inc. | 1,729 | 49 | |||
* | Liberty Media Corp.-Liberty Braves Class A | 1,135 | 29 | |||
* | Overstock.com Inc. | 65 | 4 | |||
1,007,242 | ||||||
Consumer Staples (4.5%) | ||||||
Procter & Gamble Co. | 406,479 | 63,366 | ||||
PepsiCo Inc. | 233,422 | 38,221 | ||||
CVS Health Corp. | 222,997 | 23,114 | ||||
Mondelez International Inc. Class A | 236,060 | 15,457 | ||||
Colgate-Palmolive Co. | 141,188 | 10,864 | ||||
Sysco Corp. | 86,953 | 7,574 | ||||
Kimberly-Clark Corp. | 57,458 | 7,478 | ||||
McKesson Corp. | 25,854 | 7,109 | ||||
General Mills Inc. | 103,225 | 6,960 | ||||
Corteva Inc. | 123,705 | 6,436 | ||||
Kroger Co. | 125,496 | 5,873 | ||||
Walgreens Boots Alliance Inc. | 121,959 | 5,621 | ||||
* | Monster Beverage Corp. | 63,457 | 5,356 | |||
Hershey Co. | 24,526 | 4,961 | ||||
Kraft Heinz Co. | 117,887 | 4,624 | ||||
Keurig Dr Pepper Inc. | 119,381 | 4,616 | ||||
Tyson Foods Inc. Class A | 48,333 | 4,479 | ||||
Church & Dwight Co. Inc. | 42,068 | 4,116 | ||||
McCormick & Co. Inc. (Non-Voting) | 42,192 | 4,015 | ||||
AmerisourceBergen Corp. | 25,249 | 3,599 | ||||
Clorox Co. | 21,068 | 3,071 | ||||
Kellogg Co. | 42,816 | 2,738 | ||||
Conagra Brands Inc. | 78,220 | 2,735 | ||||
Bunge Ltd. | 23,291 | 2,435 | ||||
J M Smucker Co. | 17,883 | 2,410 | ||||
Hormel Foods Corp. | 48,497 | 2,310 | ||||
* | Darling Ingredients Inc. | 28,453 | 2,062 | |||
Lamb Weston Holdings Inc. | 24,561 | 1,632 | ||||
Campbell Soup Co. | 33,246 | 1,495 | ||||
* | US Foods Holding Corp. | 38,161 | 1,492 |
Shares | Market Value• ($000) | |||||
* | Performance Food Group Co. | 25,897 | 1,451 | |||
Casey's General Stores Inc. | 6,424 | 1,208 | ||||
* | Post Holdings Inc. | 10,443 | 1,098 | |||
Ingredion Inc. | 11,606 | 1,030 | ||||
Flowers Foods Inc. | 32,989 | 904 | ||||
Albertsons Cos. Inc. Class A | 27,294 | 796 | ||||
Spectrum Brands Holdings Inc. | 7,469 | 693 | ||||
* | Nomad Foods Ltd. | 25,823 | 650 | |||
* | Simply Good Foods Co. | 15,811 | 627 | |||
* | Herbalife Nutrition Ltd. | 17,329 | 617 | |||
Sanderson Farms Inc. | 3,347 | 598 | ||||
* | Hain Celestial Group Inc. | 15,955 | 580 | |||
Lancaster Colony Corp. | 3,397 | 571 | ||||
* | Sprouts Farmers Market Inc. | 19,191 | 547 | |||
WD-40 Co. | 2,411 | 511 | ||||
* | Hostess Brands Inc. Class A | 21,006 | 452 | |||
Medifast Inc. | 2,265 | 421 | ||||
J & J Snack Foods Corp. | 2,306 | 378 | ||||
* | Grocery Outlet Holding Corp. | 13,350 | 371 | |||
Coca-Cola Consolidated Inc. | 732 | 364 | ||||
Nu Skin Enterprises Inc. Class A | 7,739 | 359 | ||||
Energizer Holdings Inc. | 10,404 | 347 | ||||
* | Freshpet Inc. | 3,600 | 343 | |||
* | TreeHouse Foods Inc. | 8,254 | 324 | |||
Edgewell Personal Care Co. | 8,451 | 302 | ||||
B&G Foods Inc. | 9,555 | 283 | ||||
Cal-Maine Foods Inc. | 6,279 | 278 | ||||
Reynolds Consumer Products Inc. | 8,900 | 265 | ||||
*,1 | Beyond Meat Inc. | 4,495 | 210 | |||
* | USANA Health Sciences Inc. | 2,222 | 196 | |||
National Beverage Corp. | 4,186 | 184 | ||||
Calavo Growers Inc. | 4,148 | 177 | ||||
* | Celsius Holdings Inc. | 2,244 | 143 | |||
Weis Markets Inc. | 2,128 | 131 | ||||
Fresh Del Monte Produce Inc. | 4,291 | 111 | ||||
ACCO Brands Corp. | 11,986 | 103 | ||||
Tootsie Roll Industries Inc. | 2,078 | 70 | ||||
273,912 | ||||||
Energy (0.2%) | ||||||
* | Enphase Energy Inc. | 22,985 | 3,832 | |||
* | Plug Power Inc. | 132,207 | 3,344 | |||
* | SolarEdge Technologies Inc. | 9,124 | 2,914 |
Shares | Market Value• ($000) | |||||
* | First Solar Inc. | 18,101 | 1,363 | |||
* | Renewable Energy Group Inc. | 7,536 | 463 | |||
*,1 | Maxeon Solar Technologies Ltd. | 40,000 | 434 | |||
Arcosa Inc. | 7,400 | 390 | ||||
* | ChargePoint Holdings Inc. | 14,127 | 205 | |||
* | SunPower Corp. | 5,865 | 105 | |||
13,050 | ||||||
Financials (11.3%) | ||||||
JPMorgan Chase & Co. | 496,926 | 70,464 | ||||
Bank of America Corp. | 1,219,719 | 53,912 | ||||
S&P Global Inc. | 58,535 | 21,992 | ||||
Charles Schwab Corp. | 255,487 | 21,578 | ||||
Morgan Stanley | 227,327 | 20,628 | ||||
Citigroup Inc. | 335,835 | 19,891 | ||||
Goldman Sachs Group Inc. | 55,471 | 18,932 | ||||
BlackRock Inc. | 24,249 | 18,039 | ||||
Chubb Ltd. | 72,695 | 14,804 | ||||
CME Group Inc. | 60,744 | 14,368 | ||||
PNC Financial Services Group Inc. | 71,703 | 14,287 | ||||
Truist Financial Corp. | 226,425 | 14,088 | ||||
Marsh & McLennan Cos. Inc. | 85,489 | 13,286 | ||||
US Bancorp | 226,656 | 12,815 | ||||
Intercontinental Exchange Inc. | 93,971 | 12,040 | ||||
Aon plc Class A | 36,943 | 10,793 | ||||
Progressive Corp. | 99,013 | 10,488 | ||||
Moody's Corp. | 27,437 | 8,836 | ||||
American International Group Inc. | 140,791 | 8,622 | ||||
MetLife Inc. | 120,814 | 8,161 | ||||
Prudential Financial Inc. | 64,096 | 7,157 | ||||
Travelers Cos. Inc. | 41,510 | 7,133 | ||||
MSCI Inc. | 13,636 | 6,841 | ||||
Bank of New York Mellon Corp. | 128,045 | 6,806 | ||||
Aflac Inc. | 110,676 | 6,761 | ||||
Discover Financial Services | 49,953 | 6,166 | ||||
Allstate Corp. | 48,149 | 5,891 | ||||
* | SVB Financial Group | 9,550 | 5,787 | |||
Ameriprise Financial Inc. | 18,973 | 5,688 | ||||
KKR & Co. Inc. | 94,370 | 5,674 | ||||
Fifth Third Bancorp | 114,834 | 5,494 | ||||
T. Rowe Price Group Inc. | 37,969 | 5,489 | ||||
Arthur J Gallagher & Co. | 34,509 | 5,459 | ||||
State Street Corp. | 61,630 | 5,259 | ||||
First Republic Bank | 29,893 | 5,179 | ||||
Willis Towers Watson plc | 20,991 | 4,666 | ||||
Hartford Financial Services Group Inc. | 57,600 | 4,002 | ||||
Northern Trust Corp. | 34,963 | 3,982 | ||||
M&T Bank Corp. | 21,675 | 3,950 | ||||
Regions Financial Corp. | 161,868 | 3,916 |
Shares | Market Value• ($000) | |||||
KeyCorp | 156,054 | 3,912 | ||||
Huntington Bancshares Inc. | 243,507 | 3,779 | ||||
Citizens Financial Group Inc. | 71,467 | 3,746 | ||||
Signature Bank | 9,894 | 3,412 | ||||
Raymond James Financial Inc. | 30,954 | 3,394 | ||||
Nasdaq Inc. | 19,773 | 3,384 | ||||
Principal Financial Group Inc. | 43,726 | 3,089 | ||||
Cincinnati Financial Corp. | 25,139 | 3,087 | ||||
Ally Financial Inc. | 58,778 | 2,933 | ||||
* | Markel Corp. | 2,355 | 2,927 | |||
* | Arch Capital Group Ltd. | 61,756 | 2,909 | |||
Broadridge Financial Solutions Inc. | 19,477 | 2,848 | ||||
Brown & Brown Inc. | 38,794 | 2,623 | ||||
FactSet Research Systems Inc. | 6,371 | 2,587 | ||||
MarketAxess Holdings Inc. | 6,580 | 2,510 | ||||
LPL Financial Holdings Inc. | 13,683 | 2,476 | ||||
Fidelity National Financial Inc. | 45,789 | 2,181 | ||||
First Horizon Corp. | 91,284 | 2,143 | ||||
Cboe Global Markets Inc. | 18,177 | 2,132 | ||||
Comerica Inc. | 22,191 | 2,119 | ||||
East West Bancorp Inc. | 23,918 | 2,094 | ||||
Lincoln National Corp. | 30,926 | 2,085 | ||||
W R Berkley Corp. | 22,811 | 2,060 | ||||
Equitable Holdings Inc. | 62,422 | 2,039 | ||||
Ares Management Corp. Class A | 24,066 | 1,951 | ||||
Everest Re Group Ltd. | 6,468 | 1,929 | ||||
* | XP Inc. Class A | 59,545 | 1,926 | |||
Zions Bancorp NA | 25,772 | 1,827 | ||||
Webster Financial Corp. | 30,263 | 1,822 | ||||
Credicorp Ltd. | 11,548 | 1,747 | ||||
Globe Life Inc. | 16,740 | 1,690 | ||||
First Citizens BancShares Inc. Class A | 2,050 | 1,616 | ||||
Western Alliance Bancorp | 17,055 | 1,599 | ||||
Assurant Inc. | 9,377 | 1,591 | ||||
Annaly Capital Management Inc. | 228,650 | 1,591 | ||||
American Financial Group Inc. | 11,433 | 1,548 | ||||
People's United Financial Inc. | 72,637 | 1,531 | ||||
* | Alleghany Corp. | 2,312 | 1,530 | |||
Tradeweb Markets Inc. Class A | 17,934 | 1,515 | ||||
Franklin Resources Inc. | 48,264 | 1,435 | ||||
Cullen/Frost Bankers Inc. | 9,520 | 1,340 | ||||
Synovus Financial Corp. | 25,360 | 1,335 | ||||
Commerce Bancshares Inc. | 18,563 | 1,332 |
Shares | Market Value• ($000) | |||||
Invesco Ltd. | 62,075 | 1,318 | ||||
Reinsurance Group of America Inc. | 11,707 | 1,298 | ||||
Stifel Financial Corp. | 17,573 | 1,292 | ||||
Pinnacle Financial Partners Inc. | 12,655 | 1,279 | ||||
Voya Financial Inc. | 18,124 | 1,221 | ||||
Old Republic International Corp. | 45,413 | 1,197 | ||||
Popular Inc. | 13,008 | 1,195 | ||||
First American Financial Corp. | 17,765 | 1,191 | ||||
Starwood Property Trust Inc. | 49,869 | 1,189 | ||||
RenaissanceRe Holdings Ltd. | 7,685 | 1,159 | ||||
AGNC Investment Corp. | 87,730 | 1,133 | ||||
Morningstar Inc. | 3,992 | 1,120 | ||||
Prosperity Bancshares Inc. | 14,802 | 1,102 | ||||
Unum Group | 38,909 | 1,086 | ||||
Glacier Bancorp Inc. | 19,218 | 1,065 | ||||
SouthState Corp. | 11,826 | 1,064 | ||||
SEI Investments Co. | 18,055 | 1,058 | ||||
First Financial Bankshares Inc. | 21,976 | 1,053 | ||||
Cadence Bank | 33,246 | 1,051 | ||||
* | Silvergate Capital Corp. Class A | 8,171 | 1,047 | |||
OneMain Holdings Inc. | 19,405 | 989 | ||||
SLM Corp. | 50,102 | 987 | ||||
Janus Henderson Group plc | 29,333 | 985 | ||||
Wintrust Financial Corp. | 9,868 | 980 | ||||
Affiliated Managers Group Inc. | 7,063 | 977 | ||||
PacWest Bancorp | 19,749 | 976 | ||||
Bank OZK | 20,237 | 952 | ||||
Hanover Insurance Group Inc. | 6,686 | 933 | ||||
Valley National Bancorp | 66,734 | 932 | ||||
Blackstone Mortgage Trust Inc. Class A | 28,956 | 920 | ||||
Selective Insurance Group Inc. | 11,052 | 919 | ||||
Old National Bancorp | 49,834 | 911 | ||||
Interactive Brokers Group Inc. Class A | 13,697 | 906 | ||||
New York Community Bancorp Inc. | 78,490 | 906 | ||||
United Bankshares Inc. | 24,736 | 906 | ||||
Primerica Inc. | 6,865 | 892 | ||||
Houlihan Lokey Inc. Class A | 8,669 | 892 | ||||
Hancock Whitney Corp. | 15,914 | 886 | ||||
* | Trupanion Inc. | 9,874 | 885 | |||
MGIC Investment Corp. | 55,871 | 848 | ||||
Evercore Inc. Class A | 6,621 | 841 |
Shares | Market Value• ($000) | |||||
Umpqua Holdings Corp. | 39,043 | 834 | ||||
Essent Group Ltd. | 18,852 | 833 | ||||
FNB Corp. | 60,822 | 817 | ||||
UMB Financial Corp. | 7,797 | 794 | ||||
Kinsale Capital Group Inc. | 3,758 | 788 | ||||
Axis Capital Holdings Ltd. | 14,418 | 787 | ||||
Radian Group Inc. | 32,702 | 782 | ||||
* | Brighthouse Financial Inc. | 14,791 | 773 | |||
ServisFirst Bancshares Inc. | 8,790 | 768 | ||||
BankUnited Inc. | 17,071 | 755 | ||||
RLI Corp. | 7,347 | 746 | ||||
Community Bank System Inc. | 10,186 | 743 | ||||
Assured Guaranty Ltd. | 11,881 | 736 | ||||
Walker & Dunlop Inc. | 5,284 | 731 | ||||
First Hawaiian Inc. | 25,009 | 727 | ||||
* | Upstart Holdings Inc. | 4,599 | 727 | |||
United Community Banks Inc. | 18,756 | 725 | ||||
Investors Bancorp Inc. | 43,051 | 721 | ||||
Independent Bank Corp. (Massachusetts) | 8,221 | 707 | ||||
Cathay General Bancorp | 14,629 | 688 | ||||
Associated Banc-Corp | 28,215 | 688 | ||||
Pacific Premier Bancorp Inc. | 17,745 | 687 | ||||
Eastern Bankshares Inc. | 31,377 | 686 | ||||
Home BancShares Inc. | 29,099 | 681 | ||||
Bank of Hawaii Corp. | 7,901 | 681 | ||||
Lazard Ltd. Class A | 17,839 | 617 | ||||
Ameris Bancorp | 12,398 | 614 | ||||
Simmons First National Corp. Class A | 21,416 | 611 | ||||
* | Axos Financial Inc. | 10,840 | 593 | |||
* | Enstar Group Ltd. | 2,072 | 591 | |||
Kemper Corp. | 10,968 | 586 | ||||
American Equity Investment Life Holding Co. | 15,284 | 576 | ||||
CNO Financial Group Inc. | 23,806 | 575 | ||||
WSFS Financial Corp. | 11,228 | 571 | ||||
* | Texas Capital Bancshares Inc. | 8,420 | 561 | |||
Federated Hermes Inc. Class B | 16,992 | 555 | ||||
Moelis & Co. Class A | 11,230 | 541 | ||||
Atlantic Union Bankshares Corp. | 13,259 | 539 | ||||
Chimera Investment Corp. | 43,534 | 530 | ||||
* | Focus Financial Partners Inc. Class A | 10,474 | 524 | |||
* | Mr Cooper Group Inc. | 10,300 | 524 | |||
Artisan Partners Asset Management Inc. Class A | 13,136 | 501 | ||||
Virtu Financial Inc. Class A | 14,241 | 500 | ||||
BOK Financial Corp. | 4,858 | 499 |
Shares | Market Value• ($000) | |||||
Hamilton Lane Inc. Class A | 6,319 | 493 | ||||
Columbia Banking System Inc. | 13,297 | 487 | ||||
White Mountains Insurance Group Ltd. | 450 | 473 | ||||
Fulton Financial Corp. | 25,644 | 462 | ||||
CVB Financial Corp. | 19,212 | 453 | ||||
Independent Bank Group Inc. | 5,824 | 449 | ||||
Navient Corp. | 25,360 | 447 | ||||
FirstCash Holdings Inc. | 6,139 | 442 | ||||
Jackson Financial Inc. Class A | 10,600 | 433 | ||||
First Bancorp | 30,321 | 428 | ||||
Piper Sandler Cos. | 2,778 | 411 | ||||
* | Cannae Holdings Inc. | 14,634 | 393 | |||
Flagstar Bancorp Inc. | 8,547 | 390 | ||||
First Merchants Corp. | 8,571 | 375 | ||||
WesBanco Inc. | 10,120 | 370 | ||||
First Financial Bancorp | 14,806 | 364 | ||||
International Bancshares Corp. | 8,253 | 355 | ||||
Towne Bank | 11,071 | 345 | ||||
Banner Corp. | 5,538 | 341 | ||||
Washington Federal Inc. | 9,526 | 339 | ||||
Hope Bancorp Inc. | 19,275 | 327 | ||||
Live Oak Bancshares Inc. | 5,100 | 326 | ||||
* | Genworth Financial Inc. Class A | 79,945 | 325 | |||
* | Encore Capital Group Inc. | 4,875 | 322 | |||
Heartland Financial USA Inc. | 6,396 | 317 | ||||
Renasant Corp. | 8,689 | 317 | ||||
Cohen & Steers Inc. | 3,846 | 313 | ||||
Hilltop Holdings Inc. | 10,070 | 311 | ||||
Bank of NT Butterfield & Son Ltd. | 8,105 | 311 | ||||
Trustmark Corp. | 9,852 | 310 | ||||
Eagle Bancorp Inc. | 5,106 | 306 | ||||
* | NMI Holdings Inc. Class A | 13,190 | 305 | |||
* | PRA Group Inc. | 6,636 | 296 | |||
Sandy Spring Bancorp Inc. | 6,276 | 296 | ||||
Provident Financial Services Inc. | 12,449 | 295 | ||||
iStar Inc. | 11,500 | 289 | ||||
MFA Financial Inc. | 70,893 | 288 | ||||
Horace Mann Educators Corp. | 6,844 | 285 | ||||
Northwest Bancshares Inc. | 20,098 | 283 | ||||
Apollo Commercial Real Estate Finance Inc. | 20,861 | 272 | ||||
NBT Bancorp Inc. | 6,935 | 266 | ||||
First Commonwealth Financial Corp. | 16,256 | 263 | ||||
PennyMac Financial Services Inc. | 4,497 | 260 | ||||
Westamerica Bancorp | 4,358 | 258 |
Shares | Market Value• ($000) | |||||
BGC Partners Inc. Class A | 53,709 | 246 | ||||
Virtus Investment Partners Inc. | 1,024 | 246 | ||||
American National Group Inc. | 1,300 | 246 | ||||
Capitol Federal Financial Inc. | 22,123 | 242 | ||||
ProAssurance Corp. | 9,385 | 226 | ||||
Mercury General Corp. | 4,008 | 220 | ||||
Brightsphere Investment Group Inc. | 9,193 | 219 | ||||
Ladder Capital Corp. | 19,000 | 218 | ||||
Argo Group International Holdings Ltd. | 5,138 | 217 | ||||
PennyMac Mortgage Investment Trust | 13,475 | 210 | ||||
Redwood Trust Inc. | 19,505 | 203 | ||||
Berkshire Hills Bancorp Inc. | 6,493 | 202 | ||||
Nelnet Inc. Class A | 2,513 | 202 | ||||
Stock Yards Bancorp Inc. | 3,692 | 197 | ||||
CNA Financial Corp. | 4,034 | 184 | ||||
State Auto Financial Corp. | 3,514 | 183 | ||||
BancFirst Corp. | 2,186 | 171 | ||||
Brookline Bancorp Inc. | 9,753 | 167 | ||||
Safety Insurance Group Inc. | 1,873 | 156 | ||||
* | Columbia Financial Inc. | 7,304 | 155 | |||
S&T Bancorp Inc. | 4,973 | 155 | ||||
City Holding Co. | 1,926 | 153 | ||||
Employers Holdings Inc. | 3,684 | 143 | ||||
WisdomTree Investments Inc. | 24,328 | 137 | ||||
Kearny Financial Corp. | 9,449 | 125 | ||||
* | Blucora Inc. | 6,224 | 124 | |||
Washington Trust Bancorp Inc. | 2,231 | 121 | ||||
1st Source Corp. | 2,429 | 117 | ||||
TFS Financial Corp. | 6,536 | 112 | ||||
ARMOUR Residential REIT Inc. | 12,754 | 104 | ||||
Community Trust Bancorp Inc. | 2,220 | 94 | ||||
BrightSpire Capital Inc. Class A | 10,542 | 93 | ||||
* | SiriusPoint Ltd. | 10,139 | 75 | |||
Republic Bancorp Inc. Class A | 1,248 | 57 | ||||
* | Marathon Digital Holdings Inc. | 1,952 | 49 | |||
689,562 | ||||||
Health Care (13.8%) | ||||||
UnitedHealth Group Inc. | 159,420 | 75,863 | ||||
Pfizer Inc. | 947,426 | 44,472 | ||||
AbbVie Inc. | 299,897 | 44,316 | ||||
Thermo Fisher Scientific Inc. | 66,560 | 36,209 |
Shares | Market Value• ($000) | |||||
Eli Lilly & Co. | 143,753 | 35,931 | ||||
Abbott Laboratories | 294,285 | 35,497 | ||||
Merck & Co. Inc. | 429,941 | 32,925 | ||||
Danaher Corp. | 107,476 | 29,492 | ||||
Bristol-Myers Squibb Co. | 379,416 | 26,054 | ||||
Medtronic plc | 227,987 | 23,936 | ||||
Amgen Inc. | 96,271 | 21,803 | ||||
Anthem Inc. | 41,547 | 18,773 | ||||
* | Intuitive Surgical Inc. | 60,186 | 17,474 | |||
Zoetis Inc. | 80,529 | 15,594 | ||||
Stryker Corp. | 58,997 | 15,537 | ||||
Cigna Corp. | 55,458 | 13,187 | ||||
Becton Dickinson & Co. | 48,293 | 13,101 | ||||
Gilead Sciences Inc. | 213,432 | 12,891 | ||||
* | Edwards Lifesciences Corp. | 105,292 | 11,832 | |||
* | Boston Scientific Corp. | 239,452 | 10,577 | |||
* | Regeneron Pharmaceuticals Inc. | 17,048 | 10,542 | |||
HCA Healthcare Inc. | 41,471 | 10,381 | ||||
* | Vertex Pharmaceuticals Inc. | 43,026 | 9,897 | |||
Humana Inc. | 21,789 | 9,463 | ||||
* | Moderna Inc. | 57,918 | 8,896 | |||
* | Illumina Inc. | 25,231 | 8,240 | |||
* | Centene Corp. | 97,985 | 8,096 | |||
* | IDEXX Laboratories Inc. | 14,355 | 7,642 | |||
* | IQVIA Holdings Inc. | 32,400 | 7,456 | |||
Baxter International Inc. | 85,208 | 7,240 | ||||
* | Align Technology Inc. | 13,330 | 6,818 | |||
Agilent Technologies Inc. | 51,495 | 6,713 | ||||
* | Dexcom Inc. | 16,217 | 6,712 | |||
ResMed Inc. | 24,429 | 6,028 | ||||
* | Veeva Systems Inc. Class A | 23,648 | 5,417 | |||
* | Biogen Inc. | 24,685 | 5,209 | |||
West Pharmaceutical Services Inc. | 12,442 | 4,816 | ||||
Cerner Corp. | 50,517 | 4,711 | ||||
Zimmer Biomet Holdings Inc. | 35,612 | 4,529 | ||||
* | Laboratory Corp. of America Holdings | 16,265 | 4,412 | |||
PerkinElmer Inc. | 21,244 | 3,816 | ||||
STERIS plc | 14,712 | 3,531 | ||||
* | Avantor Inc. | 101,498 | 3,521 | |||
* | Horizon Therapeutics plc | 37,410 | 3,411 | |||
Cooper Cos. Inc. | 8,176 | 3,344 | ||||
* | ICON plc | 13,719 | 3,265 | |||
* | Alnylam Pharmaceuticals Inc. | 20,041 | 3,163 | |||
* | Hologic Inc. | 42,533 | 3,027 | |||
* | Insulet Corp. | 11,268 | 2,983 | |||
* | Catalent Inc. | 28,859 | 2,945 | |||
* | Molina Healthcare Inc. | 9,596 | 2,945 | |||
* | Seagen Inc. | 22,560 | 2,907 |
Shares | Market Value• ($000) | |||||
Bio-Techne Corp. | 6,750 | 2,831 | ||||
Teleflex Inc. | 8,108 | 2,727 | ||||
Quest Diagnostics Inc. | 20,673 | 2,714 | ||||
Cardinal Health Inc. | 47,119 | 2,545 | ||||
* | Charles River Laboratories International Inc. | 8,482 | 2,470 | |||
* | BioMarin Pharmaceutical Inc. | 30,943 | 2,417 | |||
* | ABIOMED Inc. | 7,655 | 2,379 | |||
* | Exact Sciences Corp. | 29,978 | 2,340 | |||
Viatris Inc. | 205,639 | 2,264 | ||||
* | Bio-Rad Laboratories Inc. Class A | 3,592 | 2,248 | |||
* | Elanco Animal Health Inc. | 76,833 | 2,183 | |||
Royalty Pharma plc Class A | 54,995 | 2,159 | ||||
* | Incyte Corp. | 31,178 | 2,129 | |||
* | Henry Schein Inc. | 23,830 | 2,058 | |||
* | Repligen Corp. | 10,209 | 2,008 | |||
DENTSPLY SIRONA Inc. | 36,707 | 1,987 | ||||
* | Novocure Ltd. | 21,243 | 1,739 | |||
Universal Health Services Inc. Class B | 11,916 | 1,715 | ||||
* | Teladoc Health Inc. | 21,483 | 1,631 | |||
Organon & Co. | 43,009 | 1,606 | ||||
* | Tenet Healthcare Corp. | 18,038 | 1,551 | |||
* | Neurocrine Biosciences Inc. | 16,287 | 1,464 | |||
* | Jazz Pharmaceuticals plc | 10,539 | 1,448 | |||
* | Masimo Corp. | 8,584 | 1,352 | |||
* | Syneos Health Inc. | 16,969 | 1,344 | |||
* | Envista Holdings Corp. | 27,733 | 1,331 | |||
* | Penumbra Inc. | 5,887 | 1,305 | |||
* | DaVita Inc. | 11,438 | 1,290 | |||
* | Guardant Health Inc. | 19,253 | 1,276 | |||
* | United Therapeutics Corp. | 7,576 | 1,259 | |||
Chemed Corp. | 2,587 | 1,237 | ||||
* | Intellia Therapeutics Inc. | 12,358 | 1,222 | |||
* | Shockwave Medical Inc. | 6,838 | 1,212 | |||
* | Inspire Medical Systems Inc. | 4,926 | 1,202 | |||
Bruker Corp. | 16,895 | 1,189 | ||||
* | Tandem Diabetes Care Inc. | 10,532 | 1,186 | |||
* | Biohaven Pharmaceutical Holding Co. Ltd. | 9,674 | 1,148 | |||
Encompass Health Corp. | 17,329 | 1,144 | ||||
* | Beam Therapeutics Inc. | 14,126 | 1,107 | |||
* | Sarepta Therapeutics Inc. | 14,242 | 1,091 | |||
* | Exelixis Inc. | 52,484 | 1,077 | |||
* | Amedisys Inc. | 6,508 | 1,043 | |||
* | Arena Pharmaceuticals Inc. | 10,887 | 1,034 | |||
* | Natera Inc. | 15,665 | 1,030 | |||
* | CRISPR Therapeutics AG | 16,666 | 1,023 | |||
* | Omnicell Inc. | 7,599 | 982 | |||
* | STAAR Surgical Co. | 12,132 | 962 | |||
* | 10X Genomics Inc. Class A | 10,927 | 890 | |||
* | Acadia Healthcare Co. Inc. | 15,683 | 889 |
Shares | Market Value• ($000) | |||||
* | Integra LifeSciences Holdings Corp. | 12,930 | 867 | |||
* | Halozyme Therapeutics Inc. | 23,940 | 849 | |||
* | ICU Medical Inc. | 3,579 | 847 | |||
* | Ionis Pharmaceuticals Inc. | 25,105 | 838 | |||
* | Fate Therapeutics Inc. | 23,552 | 814 | |||
Perrigo Co. plc | 22,739 | 808 | ||||
* | LHC Group Inc. | 5,900 | 803 | |||
* | HealthEquity Inc. | 14,748 | 792 | |||
* | Ultragenyx Pharmaceutical Inc. | 11,752 | 791 | |||
* | Certara Inc. | 31,210 | 791 | |||
Ensign Group Inc. | 9,365 | 787 | ||||
* | Medpace Holdings Inc. | 5,071 | 776 | |||
Premier Inc. Class A | 21,535 | 774 | ||||
* | Novavax Inc. | 9,149 | 763 | |||
CONMED Corp. | 5,154 | 753 | ||||
* | Arrowhead Pharmaceuticals Inc. | 17,064 | 751 | |||
* | LivaNova plc | 9,497 | 749 | |||
* | Intra-Cellular Therapies Inc. | 13,357 | 741 | |||
* | Alkermes plc | 29,345 | 729 | |||
* | Quidel Corp. | 6,820 | 721 | |||
* | Option Care Health Inc. | 27,884 | 717 | |||
* | Inari Medical Inc. | 8,150 | 717 | |||
* | iRhythm Technologies Inc. | 5,510 | 712 | |||
* | Neogen Corp. | 19,049 | 680 | |||
* | agilon health Inc. | 33,375 | 675 | |||
* | Mirati Therapeutics Inc. | 7,410 | 654 | |||
* | Iovance Biotherapeutics Inc. | 39,430 | 618 | |||
* | Blueprint Medicines Corp. | 10,090 | 611 | |||
* | Progyny Inc. | 15,470 | 609 | |||
* | Global Blood Therapeutics Inc. | 20,000 | 604 | |||
* | Glaukos Corp. | 10,833 | 599 | |||
* | Merit Medical Systems Inc. | 8,644 | 562 | |||
* | Arvinas Inc. | 8,434 | 547 | |||
* | ACADIA Pharmaceuticals Inc. | 21,260 | 540 | |||
* | Axonics Inc. | 9,520 | 540 | |||
* | Denali Therapeutics Inc. | 16,458 | 536 | |||
* | Haemonetics Corp. | 9,269 | 535 | |||
* | Prestige Consumer Healthcare Inc. | 8,873 | 528 | |||
Owens & Minor Inc. | 11,785 | 520 | ||||
* | Inmode Ltd. | 11,900 | 508 | |||
* | AtriCure Inc. | 7,220 | 501 | |||
* | Apellis Pharmaceuticals Inc. | 11,724 | 499 | |||
* | BioCryst Pharmaceuticals Inc. | 29,610 | 492 | |||
* | R1 RCM Inc. | 17,438 | 474 | |||
* | Insmed Inc. | 19,779 | 473 | |||
* | Nevro Corp. | 6,360 | 456 |
Shares | Market Value• ($000) | |||||
* | Pacira BioSciences Inc. | 6,793 | 453 | |||
Patterson Cos. Inc. | 15,058 | 450 | ||||
* | NuVasive Inc. | 8,088 | 438 | |||
* | Relay Therapeutics Inc. | 18,000 | 434 | |||
* | Multiplan Corp. | 114,300 | 430 | |||
* | Integer Holdings Corp. | 5,024 | 421 | |||
* | PTC Therapeutics Inc. | 11,625 | 408 | |||
*,1 | Cassava Sciences Inc. | 9,408 | 400 | |||
* | Sotera Health Co. | 18,100 | 396 | |||
Select Medical Holdings Corp. | 17,065 | 395 | ||||
* | Corcept Therapeutics Inc. | 17,620 | 393 | |||
* | Axsome Therapeutics Inc. | 13,400 | 377 | |||
* | Fulgent Genetics Inc. | 5,900 | 368 | |||
* | Pennant Group Inc. | 22,667 | 368 | |||
* | Myriad Genetics Inc. | 15,044 | 367 | |||
* | ChemoCentryx Inc. | 12,000 | 364 | |||
* | Amicus Therapeutics Inc. | 44,284 | 360 | |||
* | Emergent BioSolutions Inc. | 8,641 | 358 | |||
* | Karuna Therapeutics Inc. | 3,308 | 347 | |||
* | SpringWorks Therapeutics Inc. | 6,100 | 345 | |||
* | Ortho Clinical Diagnostics Holdings plc | 18,977 | 336 | |||
* | Epizyme Inc. | 220,500 | 329 | |||
* | Sage Therapeutics Inc. | 9,005 | 327 | |||
* | AdaptHealth Corp. Class A | 18,300 | 319 | |||
* | Vir Biotechnology Inc. | 12,451 | 314 | |||
* | Evolent Health Inc. Class A | 11,275 | 300 | |||
* | Endo International plc | 96,000 | 299 | |||
* | Surgery Partners Inc. | 5,600 | 293 | |||
* | MEDNAX Inc. | 12,218 | 287 | |||
* | FibroGen Inc. | 19,500 | 274 | |||
* | Supernus Pharmaceuticals Inc. | 8,399 | 268 | |||
Healthcare Services Group Inc. | 15,974 | 253 | ||||
* | Xencor Inc. | 8,089 | 253 | |||
* | Agios Pharmaceuticals Inc. | 8,089 | 252 | |||
* | Avanos Medical Inc. | 7,122 | 252 | |||
* | Zogenix Inc. | 9,600 | 252 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 23,328 | 251 | |||
* | Ligand Pharmaceuticals Inc. | 2,474 | 250 | |||
* | REVOLUTION Medicines Inc. | 12,685 | 240 | |||
* | CorVel Corp. | 1,443 | 230 | |||
* | Myovant Sciences Ltd. | 15,700 | 211 | |||
* | REGENXBIO Inc. | 7,833 | 205 | |||
* | Alector Inc. | 12,800 | 203 | |||
* | Enanta Pharmaceuticals Inc. | 2,842 | 200 | |||
* | OPKO Health Inc. | 61,894 | 194 | |||
* | Atara Biotherapeutics Inc. | 14,842 | 191 |
Shares | Market Value• ($000) | |||||
* | Heron Therapeutics Inc. | 26,534 | 188 | |||
* | Bluebird Bio Inc. | 29,400 | 178 | |||
* | Tivity Health Inc. | 6,254 | 171 | |||
* | Natus Medical Inc. | 6,038 | 168 | |||
* | Radius Health Inc. | 20,200 | 168 | |||
* | NextGen Healthcare Inc. | 8,404 | 164 | |||
* | Brookdale Senior Living Inc. | 23,492 | 162 | |||
* | Innoviva Inc. | 8,412 | 162 | |||
* | Theravance Biopharma Inc. | 15,800 | 159 | |||
* | Madrigal Pharmaceuticals Inc. | 1,681 | 156 | |||
* | Twist Bioscience Corp. | 2,257 | 126 | |||
* | Inogen Inc. | 3,469 | 121 | |||
* | Varex Imaging Corp. | 4,888 | 116 | |||
* | Amneal Pharmaceuticals Inc. | 22,469 | 102 | |||
* | NeoGenomics Inc. | 4,376 | 94 | |||
* | Orthofix Medical Inc. | 2,432 | 83 | |||
* | Immunovant Inc. | 14,300 | 80 | |||
* | Kodiak Sciences Inc. | 8,246 | 71 | |||
* | 2seventy bio Inc. | 4,266 | 63 | |||
* | Taro Pharmaceutical Industries Ltd. | 1,152 | 56 | |||
* | Invitae Corp. | 3,404 | 37 | |||
* | Pacific Biosciences of California Inc. | 1,966 | 23 | |||
* | CareDx Inc. | 480 | 18 | |||
* | Veracyte Inc. | 96 | 3 | |||
*,2 | Alder Biopharmaceuticals Inc. CVR Exp. 12/31/24 | 767 | 1 | |||
843,954 | ||||||
Industrials (10.6%) | ||||||
Visa Inc. Class A | 287,041 | 62,035 | ||||
Mastercard Inc. Class A | 148,525 | 53,591 | ||||
Accenture plc Class A | 107,573 | 33,995 | ||||
Union Pacific Corp. | 108,701 | 26,735 | ||||
United Parcel Service Inc. Class B | 122,543 | 25,785 | ||||
* | PayPal Holdings Inc. | 201,029 | 22,501 | |||
American Express Co. | 106,380 | 20,695 | ||||
Caterpillar Inc. | 91,953 | 17,249 | ||||
Deere & Co. | 47,353 | 17,048 | ||||
Automatic Data Processing Inc. | 72,136 | 14,747 | ||||
CSX Corp. | 374,712 | 12,706 | ||||
Illinois Tool Works Inc. | 52,929 | 11,451 | ||||
* | Block Inc. Class A | 89,126 | 11,364 | |||
Capital One Financial Corp. | 71,667 | 10,984 | ||||
Sherwin-Williams Co. | 40,816 | 10,740 | ||||
* | Fiserv Inc. | 101,468 | 9,910 | |||
Fidelity National Information Services Inc. | 103,009 | 9,810 | ||||
FedEx Corp. | 41,946 | 9,323 | ||||
Johnson Controls International plc | 120,905 | 7,854 |
Shares | Market Value• ($000) | |||||
DuPont de Nemours Inc. | 88,605 | 6,855 | ||||
Global Payments Inc. | 49,414 | 6,591 | ||||
Paychex Inc. | 54,729 | 6,516 | ||||
Trane Technologies plc | 40,338 | 6,209 | ||||
Cintas Corp. | 14,852 | 5,574 | ||||
Old Dominion Freight Line Inc. | 17,308 | 5,435 | ||||
* | Mettler-Toledo International Inc. | 3,825 | 5,388 | |||
PACCAR Inc. | 57,596 | 5,288 | ||||
Rockwell Automation Inc. | 19,578 | 5,219 | ||||
* | Keysight Technologies Inc. | 31,274 | 4,922 | |||
Verisk Analytics Inc. | 26,822 | 4,757 | ||||
Equifax Inc. | 20,627 | 4,504 | ||||
Stanley Black & Decker Inc. | 27,417 | 4,461 | ||||
Vulcan Materials Co. | 22,244 | 4,036 | ||||
Synchrony Financial | 93,351 | 3,994 | ||||
* | Bill.com Holdings Inc. | 16,703 | 3,973 | |||
Martin Marietta Materials Inc. | 10,469 | 3,972 | ||||
Dover Corp. | 24,194 | 3,795 | ||||
* | Zebra Technologies Corp. Class A | 9,053 | 3,742 | |||
WW Grainger Inc. | 7,738 | 3,691 | ||||
Ingersoll Rand Inc. | 68,526 | 3,462 | ||||
* | Generac Holdings Inc. | 10,950 | 3,454 | |||
* | Waters Corp. | 10,328 | 3,271 | |||
* | FleetCor Technologies Inc. | 13,505 | 3,163 | |||
* | Trimble Inc. | 42,985 | 2,998 | |||
TransUnion | 32,784 | 2,975 | ||||
Expeditors International of Washington Inc. | 28,270 | 2,922 | ||||
JB Hunt Transport Services Inc. | 14,223 | 2,886 | ||||
Westinghouse Air Brake Technologies Corp. | 30,104 | 2,794 | ||||
Xylem Inc. | 30,409 | 2,705 | ||||
Crown Holdings Inc. | 20,747 | 2,545 | ||||
IDEX Corp. | 12,860 | 2,468 | ||||
* | Builders FirstSource Inc. | 31,915 | 2,375 | |||
Packaging Corp. of America | 15,651 | 2,304 | ||||
Masco Corp. | 40,797 | 2,286 | ||||
Jack Henry & Associates Inc. | 12,475 | 2,206 | ||||
Nordson Corp. | 9,731 | 2,204 | ||||
Robert Half International Inc. | 18,023 | 2,168 | ||||
CH Robinson Worldwide Inc. | 21,774 | 2,105 | ||||
* | Fair Isaac Corp. | 4,453 | 2,098 | |||
Westrock Co. | 45,330 | 2,052 | ||||
Graco Inc. | 28,094 | 2,025 | ||||
Fortune Brands Home & Security Inc. | 22,812 | 1,982 | ||||
Cognex Corp. | 28,953 | 1,956 |
Shares | Market Value• ($000) | |||||
Snap-on Inc. | 9,176 | 1,929 | ||||
Regal Rexnord Corp. | 11,518 | 1,847 | ||||
* | Trex Co. Inc. | 19,709 | 1,810 | |||
RPM International Inc. | 21,275 | 1,799 | ||||
Allegion plc | 15,418 | 1,766 | ||||
Sealed Air Corp. | 25,311 | 1,699 | ||||
Toro Co. | 17,913 | 1,680 | ||||
* | Middleby Corp. | 9,301 | 1,652 | |||
Owens Corning | 16,983 | 1,583 | ||||
* | Axon Enterprise Inc. | 11,251 | 1,578 | |||
A O Smith Corp. | 22,275 | 1,528 | ||||
Lennox International Inc. | 5,627 | 1,502 | ||||
Watsco Inc. | 5,309 | 1,450 | ||||
* | Paylocity Holding Corp. | 6,595 | 1,401 | |||
* | Berry Global Group Inc. | 22,602 | 1,371 | |||
* | GXO Logistics Inc. | 16,192 | 1,359 | |||
AptarGroup Inc. | 11,007 | 1,342 | ||||
* | Saia Inc. | 4,570 | 1,313 | |||
AGCO Corp. | 10,907 | 1,311 | ||||
* | WEX Inc. | 7,767 | 1,309 | |||
* | Mohawk Industries Inc. | 9,271 | 1,305 | |||
Brunswick Corp. | 13,499 | 1,289 | ||||
Genpact Ltd. | 30,705 | 1,285 | ||||
Western Union Co. | 69,740 | 1,268 | ||||
* | WillScot Mobile Mini Holdings Corp. | 34,802 | 1,237 | |||
* | XPO Logistics Inc. | 16,886 | 1,227 | |||
Advanced Drainage Systems Inc. | 10,440 | 1,219 | ||||
* | TopBuild Corp. | 5,541 | 1,190 | |||
Donaldson Co. Inc. | 21,089 | 1,144 | ||||
Littelfuse Inc. | 4,201 | 1,085 | ||||
* | Euronet Worldwide Inc. | 8,372 | 1,074 | |||
Louisiana-Pacific Corp. | 14,844 | 1,068 | ||||
Acuity Brands Inc. | 5,781 | 1,054 | ||||
ManpowerGroup Inc. | 9,656 | 1,026 | ||||
Sonoco Products Co. | 17,479 | 1,026 | ||||
Graphic Packaging Holding Co. | 49,095 | 1,010 | ||||
Landstar System Inc. | 6,451 | 996 | ||||
nVent Electric plc | 29,128 | 988 | ||||
* | ASGN Inc. | 8,632 | 956 | |||
* | Axalta Coating Systems Ltd. | 35,339 | 956 | |||
* | Chart Industries Inc. | 6,501 | 939 | |||
Eagle Materials Inc. | 6,802 | 931 | ||||
MDU Resources Group Inc. | 34,649 | 928 | ||||
MSA Safety Inc. | 6,512 | 906 | ||||
* | WESCO International Inc. | 7,377 | 898 | |||
Simpson Manufacturing Co. Inc. | 7,553 | 895 | ||||
* | AMN Healthcare Services Inc. | 8,303 | 881 | |||
Maximus Inc. | 11,104 | 876 | ||||
* | FTI Consulting Inc. | 5,759 | 841 |
Shares | Market Value• ($000) | |||||
Valmont Industries Inc. | 3,760 | 814 | ||||
* | Kornit Digital Ltd. | 8,402 | 797 | |||
* | Atkore Inc. | 7,765 | 790 | |||
Air Lease Corp. Class A | 18,501 | 773 | ||||
Franklin Electric Co. Inc. | 9,040 | 764 | ||||
Triton International Ltd. | 11,393 | 748 | ||||
* | MasTec Inc. | 9,487 | 747 | |||
Allison Transmission Holdings Inc. | 18,665 | 745 | ||||
* | API Group Corp. | 34,356 | 741 | |||
Ryder System Inc. | 9,343 | 737 | ||||
Armstrong World Industries Inc. | 8,209 | 726 | ||||
Applied Industrial Technologies Inc. | 7,104 | 718 | ||||
* | ACI Worldwide Inc. | 20,895 | 700 | |||
Herc Holdings Inc. | 4,389 | 698 | ||||
* | Kirby Corp. | 10,636 | 693 | |||
Watts Water Technologies Inc. Class A | 4,798 | 691 | ||||
GATX Corp. | 6,451 | 688 | ||||
Zurn Water Solutions Corp. | 20,988 | 683 | ||||
* | ExlService Holdings Inc. | 5,601 | 677 | |||
HB Fuller Co. | 9,577 | 655 | ||||
MSC Industrial Direct Co. Inc. Class A | 8,295 | 643 | ||||
* | Summit Materials Inc. Class A | 20,566 | 642 | |||
Korn Ferry | 9,597 | 636 | ||||
Hillenbrand Inc. | 13,021 | 621 | ||||
John Bean Technologies Corp. | 5,423 | 615 | ||||
* | AZEK Co. Inc. Class A | 20,239 | 597 | |||
Brink's Co. | 8,491 | 595 | ||||
* | TriNet Group Inc. | 6,725 | 587 | |||
Comfort Systems USA Inc. | 6,750 | 580 | ||||
* | Beacon Roofing Supply Inc. | 9,671 | 577 | |||
* | Dlocal Ltd. Class A | 17,500 | 571 | |||
Alliance Data Systems Corp. | 8,417 | 568 | ||||
Insperity Inc. | 6,169 | 555 | ||||
* | Welbilt Inc. | 21,234 | 502 | |||
Forward Air Corp. | 4,648 | 480 | ||||
Terex Corp. | 11,412 | 471 | ||||
AAON Inc. | 7,768 | 455 | ||||
UniFirst Corp. | 2,499 | 453 | ||||
Badger Meter Inc. | 4,512 | 449 | ||||
* | Hub Group Inc. Class A | 5,159 | 435 | |||
Helios Technologies Inc. | 5,396 | 423 | ||||
Albany International Corp. Class A | 4,725 | 415 | ||||
EVERTEC Inc. | 10,243 | 413 | ||||
Werner Enterprises Inc. | 9,359 | 407 | ||||
Trinity Industries Inc. | 14,070 | 406 | ||||
* | Dycom Industries Inc. | 4,527 | 394 |
Shares | Market Value• ($000) | |||||
Otter Tail Corp. | 6,283 | 389 | ||||
Belden Inc. | 6,845 | 386 | ||||
Installed Building Products Inc. | 3,878 | 375 | ||||
* | Meritor Inc. | 10,409 | 371 | |||
* | Verra Mobility Corp. Class A | 21,771 | 366 | |||
* | Masonite International Corp. | 3,731 | 352 | |||
* | Itron Inc. | 7,269 | 346 | |||
Brady Corp. Class A | 7,458 | 344 | ||||
Encore Wire Corp. | 2,952 | 344 | ||||
* | SPX Corp. | 6,382 | 324 | |||
Federal Signal Corp. | 8,933 | 323 | ||||
McGrath RentCorp | 3,910 | 318 | ||||
Scorpio Tankers Inc. | 18,161 | 316 | ||||
* | JELD-WEN Holding Inc. | 13,338 | 308 | |||
* | Pagseguro Digital Ltd. Class A | 19,115 | 305 | |||
* | Ferro Corp. | 13,854 | 301 | |||
* | Green Dot Corp. Class A | 10,401 | 298 | |||
* | O-I Glass Inc. | 23,354 | 298 | |||
* | Vicor Corp. | 3,821 | 286 | |||
* | CBIZ Inc. | 7,322 | 285 | |||
ESCO Technologies Inc. | 4,003 | 278 | ||||
* | AAR Corp. | 6,009 | 270 | |||
Patrick Industries Inc. | 3,658 | 261 | ||||
* | Gibraltar Industries Inc. | 5,106 | 247 | |||
Greif Inc. Class A | 4,282 | 246 | ||||
Tennant Co. | 3,047 | 240 | ||||
* | OSI Systems Inc. | 2,959 | 239 | |||
TriMas Corp. | 7,262 | 236 | ||||
Primoris Services Corp. | 8,814 | 232 | ||||
Schneider National Inc. Class B | 8,854 | 231 | ||||
Granite Construction Inc. | 7,397 | 224 | ||||
Apogee Enterprises Inc. | 4,945 | 223 | ||||
Astec Industries Inc. | 4,360 | 217 | ||||
* | Gates Industrial Corp. plc | 13,500 | 214 | |||
TTEC Holdings Inc. | 2,570 | 204 | ||||
H&E Equipment Services Inc. | 4,859 | 203 | ||||
Lindsay Corp. | 1,528 | 200 | ||||
Deluxe Corp. | 6,364 | 198 | ||||
Greenbrier Cos. Inc. | 4,462 | 198 | ||||
* | Cimpress plc | 3,128 | 197 | |||
* | StoneCo Ltd. Class A | 17,018 | 191 | |||
Matson Inc. | 1,719 | 190 | ||||
ADT Inc. | 25,528 | 187 | ||||
SFL Corp. Ltd. | 18,519 | 184 | ||||
* | FARO Technologies Inc. | 3,092 | 169 | |||
* | Huron Consulting Group Inc. | 2,876 | 142 | |||
* | American Woodmark Corp. | 2,562 | 137 | |||
Atlas Corp. | 8,416 | 121 | ||||
* | TrueBlue Inc. | 4,341 | 118 |
Shares | Market Value• ($000) | |||||
* | Forrester Research Inc. | 2,169 | 113 | |||
Kelly Services Inc. Class A | 4,164 | 88 | ||||
Heartland Express Inc. | 5,966 | 86 | ||||
* | Loyalty Ventures Inc. | 3,090 | 74 | |||
* | TuSimple Holdings Inc. Class A | 3,864 | 67 | |||
* | Tutor Perini Corp. | 6,637 | 65 | |||
* | GreenSky Inc. Class A | 5,800 | 57 | |||
* | Shift4 Payments Inc. Class A | 790 | 42 | |||
* | Bloom Energy Corp. Class A | 1,178 | 26 | |||
651,901 | ||||||
Real Estate (3.9%) | ||||||
Prologis Inc. | 124,754 | 18,195 | ||||
American Tower Corp. | 76,434 | 17,341 | ||||
Crown Castle International Corp. | 73,133 | 12,183 | ||||
Equinix Inc. | 15,141 | 10,746 | ||||
Public Storage | 25,581 | 9,082 | ||||
Digital Realty Trust Inc. | 47,671 | 6,432 | ||||
Realty Income Corp. | 96,318 | 6,366 | ||||
Welltower Inc. | 73,965 | 6,161 | ||||
AvalonBay Communities Inc. | 23,576 | 5,625 | ||||
SBA Communications Corp. | 18,348 | 5,567 | ||||
* | CBRE Group Inc. Class A | 56,679 | 5,489 | |||
Equity Residential | 62,418 | 5,324 | ||||
Alexandria Real Estate Equities Inc. | 25,976 | 4,920 | ||||
Extra Space Storage Inc. | 22,200 | 4,177 | ||||
* | CoStar Group Inc. | 66,308 | 4,045 | |||
Mid-America Apartment Communities Inc. | 19,463 | 3,982 | ||||
Invitation Homes Inc. | 100,323 | 3,792 | ||||
Ventas Inc. | 67,536 | 3,647 | ||||
Essex Property Trust Inc. | 11,068 | 3,510 | ||||
Sun Communities Inc. | 19,387 | 3,509 | ||||
Duke Realty Corp. | 63,986 | 3,391 | ||||
Boston Properties Inc. | 26,221 | 3,207 | ||||
UDR Inc. | 51,342 | 2,817 | ||||
Healthpeak Properties Inc. | 90,200 | 2,802 | ||||
Camden Property Trust | 16,342 | 2,698 | ||||
Iron Mountain Inc. | 48,981 | 2,409 | ||||
WP Carey Inc. | 30,739 | 2,379 | ||||
Kimco Realty Corp. | 98,938 | 2,328 | ||||
* | Host Hotels & Resorts Inc. | 121,454 | 2,219 | |||
Equity LifeStyle Properties Inc. | 29,172 | 2,177 | ||||
* | Jones Lang LaSalle Inc. | 8,551 | 2,105 | |||
Medical Properties Trust Inc. | 98,638 | 2,006 | ||||
CyrusOne Inc. | 21,355 | ��� 1,929 | ||||
Regency Centers Corp. | 28,128 | 1,853 |
Shares | Market Value• ($000) | |||||
American Homes 4 Rent Class A | 46,178 | 1,755 | ||||
Rexford Industrial Realty Inc. | 24,774 | 1,737 | ||||
Life Storage Inc. | 13,642 | 1,727 | ||||
CubeSmart | 35,501 | 1,711 | ||||
Lamar Advertising Co. Class A | 14,501 | 1,581 | ||||
Federal Realty Investment Trust | 12,745 | 1,499 | ||||
Kilroy Realty Corp. | 19,979 | 1,431 | ||||
Omega Healthcare Investors Inc. | 48,940 | 1,379 | ||||
Apartment Income REIT Corp. | 26,319 | 1,358 | ||||
* | Zillow Group Inc. Class C | 22,662 | 1,303 | |||
Vornado Realty Trust | 29,988 | 1,298 | ||||
STORE Capital Corp. | 42,066 | 1,292 | ||||
EastGroup Properties Inc. | 6,709 | 1,280 | ||||
National Retail Properties Inc. | 29,883 | 1,273 | ||||
Brixmor Property Group Inc. | 50,548 | 1,270 | ||||
American Campus Communities Inc. | 22,841 | 1,229 | ||||
Americold Realty Trust | 45,407 | 1,213 | ||||
First Industrial Realty Trust Inc. | 20,980 | 1,208 | ||||
STAG Industrial Inc. | 29,182 | 1,137 | ||||
Healthcare Trust of America Inc. Class A | 36,570 | 1,075 | ||||
Cousins Properties Inc. | 25,913 | 1,001 | ||||
Spirit Realty Capital Inc. | 21,247 | 985 | ||||
Innovative Industrial Properties Inc. | 5,089 | 959 | ||||
Rayonier Inc. | 23,936 | 950 | ||||
SL Green Realty Corp. | 11,610 | 923 | ||||
Douglas Emmett Inc. | 28,420 | 901 | ||||
Terreno Realty Corp. | 12,745 | 877 | ||||
Highwoods Properties Inc. | 19,510 | 851 | ||||
* | Park Hotels & Resorts Inc. | 43,718 | 824 | |||
Kite Realty Group Trust | 37,519 | 823 | ||||
* | Ryman Hospitality Properties Inc. | 9,325 | 822 | |||
LXP Industrial Trust | 50,947 | 788 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 16,571 | 784 | ||||
Agree Realty Corp. | 12,185 | 782 | ||||
National Storage Affiliates Trust | 13,111 | 764 | ||||
Hudson Pacific Properties Inc. | 28,533 | 753 | ||||
* | Howard Hughes Corp. | 7,698 | 736 | |||
Healthcare Realty Trust Inc. | 27,288 | 712 | ||||
Outfront Media Inc. | 25,732 | 687 | ||||
Physicians Realty Trust | 41,867 | 681 |
Shares | Market Value• ($000) | |||||
EPR Properties | 13,398 | 667 | ||||
JBG SMITH Properties | 24,534 | 655 | ||||
PotlatchDeltic Corp. | 11,808 | 648 | ||||
* | DigitalBridge Group Inc. | 85,210 | 618 | |||
Pebblebrook Hotel Trust | 27,005 | 608 | ||||
Broadstone Net Lease Inc. | 28,006 | 607 | ||||
PS Business Parks Inc. | 3,806 | 606 | ||||
Corporate Office Properties Trust | 21,126 | 554 | ||||
Macerich Co. | 36,110 | 552 | ||||
Essential Properties Realty Trust Inc. | 21,742 | 550 | ||||
* | Cushman & Wakefield plc | 24,615 | 540 | |||
* | Equity Commonwealth | 20,133 | 535 | |||
* | Realogy Holdings Corp. | 27,437 | 499 | |||
National Health Investors Inc. | 8,620 | 459 | ||||
Newmark Group Inc. Class A | 25,536 | 451 | ||||
St. Joe Co. | 8,111 | 438 | ||||
* | DiamondRock Hospitality Co. | 44,179 | 422 | |||
Kennedy-Wilson Holdings Inc. | 18,128 | 401 | ||||
SITE Centers Corp. | 25,335 | 394 | ||||
Uniti Group Inc. | 30,198 | 392 | ||||
* | Opendoor Technologies Inc. | 43,456 | 363 | |||
* | Sunstone Hotel Investors Inc. | 33,826 | 358 | |||
Brandywine Realty Trust | 26,793 | 357 | ||||
Urban Edge Properties | 18,912 | 345 | ||||
Retail Opportunity Investments Corp. | 18,613 | 338 | ||||
Piedmont Office Realty Trust Inc. Class A | 19,771 | 337 | ||||
* | Xenia Hotels & Resorts Inc. | 18,118 | 336 | |||
Paramount Group Inc. | 29,704 | 332 | ||||
RLJ Lodging Trust | 23,572 | 330 | ||||
Four Corners Property Trust Inc. | 12,074 | 318 | ||||
Washington REIT | 13,566 | 317 | ||||
Acadia Realty Trust | 13,718 | 294 | ||||
American Assets Trust Inc. | 8,028 | 293 | ||||
CareTrust REIT Inc. | 15,212 | 266 | ||||
Alexander & Baldwin Inc. | 11,799 | 265 | ||||
Tanger Factory Outlet Centers Inc. | 15,800 | 264 | ||||
* | Veris Residential Inc. | 14,614 | 247 | |||
* | Zillow Group Inc. Class A | 4,310 | 247 | |||
Empire State Realty Trust Inc. Class A | 24,900 | 236 | ||||
Global Net Lease Inc. | 15,142 | 215 | ||||
* | Marcus & Millichap Inc. | 4,157 | 207 | |||
Centerspace | 2,189 | 206 | ||||
Getty Realty Corp. | 7,026 | 194 |
Shares | Market Value• ($000) | |||||
* | Apartment Investment & Management Co. Class A | 26,700 | 191 | |||
LTC Properties Inc. | 5,353 | 181 | ||||
RPT Realty | 12,723 | 165 | ||||
* | Redfin Corp. | 6,431 | 139 | |||
* | Summit Hotel Properties Inc. | 13,224 | 131 | |||
Universal Health Realty Income Trust | 1,699 | 97 | ||||
Saul Centers Inc. | 1,584 | 73 | ||||
237,010 | ||||||
Technology (32.5%) | ||||||
Apple Inc. | 2,617,516 | 432,203 | ||||
Microsoft Corp. | 1,277,972 | 381,845 | ||||
* | Alphabet Inc. Class C | 54,338 | 146,594 | |||
* | Alphabet Inc. Class A | 44,243 | 119,507 | |||
NVIDIA Corp. | 405,794 | 98,953 | ||||
* | Meta Platforms Inc. Class A | 401,460 | 84,720 | |||
Broadcom Inc. | 67,552 | 39,683 | ||||
* | Adobe Inc. | 81,027 | 37,895 | |||
* | Advanced Micro Devices Inc. | 277,470 | 34,223 | |||
* | salesforce.com Inc. | 159,793 | 33,641 | |||
QUALCOMM Inc. | 191,249 | 32,893 | ||||
Intel Corp. | 684,827 | 32,666 | ||||
Texas Instruments Inc. | 156,049 | 26,527 | ||||
Intuit Inc. | 44,823 | 21,263 | ||||
Oracle Corp. | 279,703 | 21,249 | ||||
Applied Materials Inc. | 152,987 | 20,531 | ||||
* | ServiceNow Inc. | 33,702 | 19,545 | |||
Micron Technology Inc. | 189,508 | 16,840 | ||||
Analog Devices Inc. | 90,849 | 14,562 | ||||
Lam Research Corp. | 23,810 | 13,366 | ||||
* | Palo Alto Networks Inc. | 16,083 | 9,557 | |||
Marvell Technology Inc. | 138,283 | 9,449 | ||||
* | Snowflake Inc. Class A | 34,225 | 9,092 | |||
KLA Corp. | 25,553 | 8,905 | ||||
NXP Semiconductors NV | 44,812 | 8,520 | ||||
* | Autodesk Inc. | 37,613 | 8,284 | |||
* | Synopsys Inc. | 25,567 | 7,987 | |||
* | Fortinet Inc. | 22,635 | 7,798 | |||
Cognizant Technology Solutions Corp. Class A | 89,122 | 7,676 | ||||
* | Workday Inc. Class A | 31,983 | 7,326 | |||
* | Atlassian Corp. plc Class A | 23,671 | 7,237 | |||
* | Cadence Design Systems Inc. | 46,273 | 7,007 | |||
* | Crowdstrike Holdings Inc. Class A | 35,628 | 6,955 | |||
* | Datadog Inc. Class A | 42,840 | 6,902 | |||
HP Inc. | 195,054 | 6,702 | ||||
Microchip Technology Inc. | 92,267 | 6,489 | ||||
* | Cloudflare Inc. Class A | 47,625 | 5,545 | |||
* | Twilio Inc. Class A | 30,001 | 5,244 | |||
* | Twitter Inc. | 138,891 | 4,938 |
Shares | Market Value• ($000) | |||||
* | Zoom Video Communications Inc. Class A | 34,783 | 4,612 | |||
* | ON Semiconductor Corp. | 71,777 | 4,494 | |||
VMware Inc. Class A | 37,541 | 4,404 | ||||
* | MongoDB Inc. | 11,381 | 4,347 | |||
* | HubSpot Inc. | 7,888 | 4,141 | |||
* | Okta Inc. | 21,977 | 4,018 | |||
CDW Corp. | 22,853 | 3,941 | ||||
Skyworks Solutions Inc. | 27,927 | 3,859 | ||||
* | Gartner Inc. | 13,575 | 3,807 | |||
* | DocuSign Inc. | 30,144 | 3,570 | |||
Monolithic Power Systems Inc. | 7,764 | 3,561 | ||||
* | VeriSign Inc. | 16,513 | 3,529 | |||
Hewlett Packard Enterprise Co. | 218,581 | 3,480 | ||||
Seagate Technology Holdings plc | 32,448 | 3,347 | ||||
* | Splunk Inc. | 28,153 | 3,325 | |||
* | Zscaler Inc. | 13,723 | 3,282 | |||
Teradyne Inc. | 27,543 | 3,248 | ||||
* | Unity Software Inc. | 28,870 | 3,073 | |||
Entegris Inc. | 22,513 | 2,938 | ||||
* | Akamai Technologies Inc. | 27,116 | 2,936 | |||
* | Paycom Software Inc. | 8,636 | 2,929 | |||
NetApp Inc. | 37,297 | 2,923 | ||||
* | Tyler Technologies Inc. | 6,784 | 2,905 | |||
* | DoorDash Inc. Class A | 27,235 | 2,858 | |||
SS&C Technologies Holdings Inc. | 37,928 | 2,844 | ||||
NortonLifeLock Inc. | 93,171 | 2,700 | ||||
* | Western Digital Corp. | 52,851 | 2,692 | |||
* | Qorvo Inc. | 18,714 | 2,560 | |||
* | Nuance Communications Inc. | 46,026 | 2,555 | |||
* | Check Point Software Technologies Ltd. | 17,437 | 2,526 | |||
* | Zendesk Inc. | 21,118 | 2,464 | |||
* | GoDaddy Inc. Class A | 28,700 | 2,394 | |||
* | Dell Technologies Inc. Class C | 45,818 | 2,335 | |||
* | Pinterest Inc. Class A | 84,189 | 2,252 | |||
* | Wolfspeed Inc. | 21,868 | 2,246 | |||
Citrix Systems Inc. | 21,131 | 2,166 | ||||
* | F5 Inc. | 10,135 | 2,036 | |||
* | PTC Inc. | 17,935 | 1,996 | |||
* | RingCentral Inc. Class A | 15,103 | 1,976 | |||
* | Globant SA | 6,920 | 1,896 | |||
* | EPAM Systems Inc. | 9,121 | 1,895 | |||
* | Aspen Technology Inc. | 11,434 | 1,743 | |||
Amdocs Ltd. | 21,573 | 1,698 | ||||
* | Ceridian HCM Holding Inc. | 22,526 | 1,642 | |||
* | Avalara Inc. | 15,784 | 1,640 | |||
* | Dynatrace Inc. | 34,207 | 1,520 | |||
* | Elastic NV | 17,328 | 1,502 |
Shares | Market Value• ($000) | |||||
* | DXC Technology Co. | 43,924 | 1,495 | |||
* | Synaptics Inc. | 6,472 | 1,478 | |||
* | Black Knight Inc. | 26,111 | 1,467 | |||
* | Lattice Semiconductor Corp. | 23,154 | 1,450 | |||
* | Manhattan Associates Inc. | 10,775 | 1,440 | |||
* | Arrow Electronics Inc. | 11,612 | 1,415 | |||
* | Smartsheet Inc. Class A | 26,541 | 1,411 | |||
Concentrix Corp. | 7,000 | 1,399 | ||||
* | Five9 Inc. | 12,145 | 1,336 | |||
* | Anaplan Inc. | 27,983 | 1,326 | |||
* | Flex Ltd. | 78,941 | 1,302 | |||
* | Guidewire Software Inc. | 14,438 | 1,273 | |||
* | Coupa Software Inc. | 9,989 | 1,209 | |||
* | Pure Storage Inc. Class A | 46,602 | 1,209 | |||
* | Varonis Systems Inc. | 27,432 | 1,196 | |||
* | Dropbox Inc. Class A | 51,232 | 1,162 | |||
* | Clarivate plc | 76,841 | 1,151 | |||
Universal Display Corp. | 7,344 | 1,138 | ||||
* | CyberArk Software Ltd. | 6,685 | 1,137 | |||
Azenta Inc. | 12,637 | 1,106 | ||||
* | Silicon Laboratories Inc. | 6,627 | 1,019 | |||
* | Rapid7 Inc. | 9,707 | 1,004 | |||
* | Nutanix Inc. Class A | 36,339 | 970 | |||
CDK Global Inc. | 21,303 | 966 | ||||
Power Integrations Inc. | 10,662 | 960 | ||||
* | Teradata Corp. | 19,132 | 956 | |||
* | MicroStrategy Inc. Class A | 2,099 | 930 | |||
* | Ambarella Inc. | 6,587 | 920 | |||
* | Change Healthcare Inc. | 42,826 | 917 | |||
CMC Materials Inc. | 4,922 | 913 | ||||
* | Tenable Holdings Inc. | 16,458 | 911 | |||
National Instruments Corp. | 22,569 | 906 | ||||
* | Upwork Inc. | 34,690 | 877 | |||
* | NCR Corp. | 21,388 | 867 | |||
* | Rogers Corp. | 3,145 | 859 | |||
* | Cargurus Inc. Class A | 17,587 | 852 | |||
* | Novanta Inc. | 6,166 | 842 | |||
* | Mimecast Ltd. | 10,479 | 833 | |||
* | Cirrus Logic Inc. | 9,577 | 832 | |||
* | Mandiant Corp. | 41,712 | 826 | |||
* | Q2 Holdings Inc. | 12,406 | 807 | |||
Dolby Laboratories Inc. Class A | 10,738 | 806 | ||||
* | Semtech Corp. | 11,559 | 802 | |||
* | SPS Commerce Inc. | 6,142 | 798 | |||
* | Workiva Inc. Class A | 7,468 | 786 | |||
* | Alteryx Inc. Class A | 12,421 | 774 | |||
* | Ziff Davis Inc. | 7,688 | 773 | |||
* | MaxLinear Inc. Class A | 12,561 | 771 | |||
Avnet Inc. | 18,038 | 759 | ||||
TD SYNNEX Corp. | 7,327 | 746 | ||||
* | Yandex NV Class A | 54,882 | 736 | |||
* | Onto Innovation Inc. | 8,503 | 733 | |||
* | Envestnet Inc. | 9,749 | 729 |
Shares | Market Value• ($000) | |||||
Vertiv Holdings Co. Class A | 54,991 | 716 | ||||
* | Blackline Inc. | 9,453 | 712 | |||
* | Qualys Inc. | 5,677 | 711 | |||
* | Diodes Inc. | 7,782 | 697 | |||
* | 3D Systems Corp. | 38,251 | 682 | |||
* | Stratasys Ltd. | 27,076 | 679 | |||
* | Sailpoint Technologies Holdings Inc. | 16,107 | 666 | |||
* | Fabrinet | 6,270 | 628 | |||
Pegasystems Inc. | 7,180 | 626 | ||||
* | Insight Enterprises Inc. | 5,946 | 618 | |||
* | Box Inc. Class A | 24,036 | 616 | |||
* | New Relic Inc. | 9,196 | 609 | |||
* | Wix.com Ltd. | 6,519 | 597 | |||
Advanced Energy Industries Inc. | 6,897 | 592 | ||||
* | LiveRamp Holdings Inc. | 13,648 | 589 | |||
* | Perficient Inc. | 5,774 | 588 | |||
* | FormFactor Inc. | 14,157 | 573 | |||
* | Alarm.com Holdings Inc. | 8,609 | 567 | |||
* | JFrog Ltd. | 22,700 | 562 | |||
Kulicke & Soffa Industries Inc. | 10,286 | 537 | ||||
* | Altair Engineering Inc. Class A | 8,051 | 535 | |||
* | MACOM Technology Solutions Holdings Inc. | 8,877 | 534 | |||
Xerox Holdings Corp. | 26,906 | 530 | ||||
* | Blackbaud Inc. | 8,378 | 524 | |||
* | Verint Systems Inc. | 10,207 | 513 | |||
* | Dun & Bradstreet Holdings Inc. | 27,531 | 511 | |||
Switch Inc. Class A | 18,154 | 472 | ||||
* | Rambus Inc. | 17,344 | 468 | |||
* | CommVault Systems Inc. | 7,404 | 466 | |||
* | Cerence Inc. | 11,856 | 428 | |||
* | Yext Inc. | 56,347 | 418 | |||
* | Covetrus Inc. | 23,108 | 410 | |||
* | Plexus Corp. | 4,902 | 399 | |||
* | Bottomline Technologies DE Inc. | 7,008 | 397 | |||
Vishay Intertechnology Inc. | 20,679 | 397 | ||||
Shutterstock Inc. | 4,358 | 395 | ||||
* | Digital Turbine Inc. | 7,853 | 381 | |||
* | Yelp Inc. Class A | 11,081 | 376 | |||
* | Momentive Global Inc. | 23,874 | 375 | |||
* | Sanmina Corp. | 9,254 | 368 | |||
* | Allscripts Healthcare Solutions Inc. | 18,568 | 361 | |||
Amkor Technology Inc. | 15,624 | 354 | ||||
* | Jamf Holding Corp. | 10,200 | 349 | |||
* | PROS Holdings Inc. | 10,668 | 339 | |||
* | NetScout Systems Inc. | 10,673 | 332 | |||
* | Appfolio Inc. Class A | 2,900 | 328 | |||
McAfee Corp. Class A | 12,400 | 322 |
Shares | Market Value• ($000) | |||||
CSG Systems International Inc. | 5,101 | 315 | ||||
* | Asana Inc. Class A | 5,756 | 315 | |||
Progress Software Corp. | 7,066 | 312 | ||||
Ebix Inc. | 9,771 | 288 | ||||
Xperi Holding Corp. | 16,300 | 282 | ||||
* | Avaya Holdings Corp. | 19,691 | 271 | |||
CTS Corp. | 6,638 | 252 | ||||
* | TTM Technologies Inc. | 18,806 | 236 | |||
* | Monday.com Ltd. | 1,400 | 222 | |||
* | Allegro MicroSystems Inc. | 6,800 | 195 | |||
* | Sprout Social Inc. Class A | 2,839 | 185 | |||
Benchmark Electronics Inc. | 4,445 | 116 | ||||
* | Consensus Cloud Solutions Inc. | 2,007 | 112 | |||
* | Fastly Inc. Class A | 5,834 | 109 | |||
* | ScanSource Inc. | 3,196 | 101 | |||
* | N-able Inc. | 7,337 | 85 | |||
* | Fiverr International Ltd. | 953 | 75 | |||
SolarWinds Corp. | 4,438 | 60 | ||||
* | Bumble Inc. Class A | 2,209 | 57 | |||
* | Appian Corp. | 643 | 39 | |||
* | Global-e Online Ltd. | 571 | 22 | |||
1,986,900 | ||||||
Telecommunications (3.3%) | ||||||
Cisco Systems Inc. | 716,405 | 39,954 | ||||
Verizon Communications Inc. | 701,200 | 37,633 | ||||
Comcast Corp. Class A | 773,812 | 36,183 | ||||
AT&T Inc. | 1,221,286 | 28,932 | ||||
* | Charter Communications Inc. Class A | 21,151 | 12,728 | |||
* | T-Mobile US Inc. | 100,080 | 12,331 | |||
Motorola Solutions Inc. | 28,322 | 6,243 | ||||
* | Arista Networks Inc. | 40,856 | 5,014 | |||
* | Roku Inc. | 18,003 | 2,512 | |||
Lumen Technologies Inc. | 183,642 | 1,903 | ||||
Juniper Networks Inc. | 55,301 | 1,869 | ||||
* | Ciena Corp. | 26,053 | 1,783 | |||
* | DISH Network Corp. Class A | 43,455 | 1,389 | |||
* | Liberty Global plc Class A | 52,074 | 1,342 | |||
Cable One Inc. | 916 | 1,312 | ||||
* | Lumentum Holdings Inc. | 12,260 | 1,212 | |||
* | Liberty Global plc Class C | 34,008 | 880 | |||
* | Iridium Communications Inc. | 21,911 | 867 | |||
* | Vonage Holdings Corp. | 40,672 | 826 | |||
* | Viavi Solutions Inc. | 43,314 | 710 | |||
* | Viasat Inc. | 11,784 | 538 | |||
* | Calix Inc. | 8,824 | 480 | |||
Cogent Communications Holdings Inc. | 7,426 | 471 | ||||
* | 8x8 Inc. | 32,856 | 426 | |||
* | CommScope Holding Co. Inc. | 44,331 | 423 |
Shares | Market Value• ($000) | |||||
* | Plantronics Inc. | 14,130 | 398 | |||
InterDigital Inc. | 4,955 | 319 | ||||
* | Liberty Latin America Ltd. Class C | 26,571 | 268 | |||
Telephone & Data Systems Inc. | 14,769 | 256 | ||||
Ubiquiti Inc. | 1,000 | 254 | ||||
Shenandoah Telecommunications Co. | 7,600 | 170 | ||||
* | Altice USA Inc. Class A | 13,770 | 159 | |||
* | NETGEAR Inc. | 5,364 | 143 | |||
* | EchoStar Corp. Class A | 4,800 | 117 | |||
* | United States Cellular Corp. | 1,921 | 53 | |||
ATN International Inc. | 1,400 | 47 | ||||
* | Liberty Latin America Ltd. Class A | 4,549 | 46 | |||
200,191 | ||||||
Utilities (1.2%) | ||||||
Waste Management Inc. | 71,536 | 10,330 | ||||
Sempra Energy | 54,124 | 7,806 | ||||
Consolidated Edison Inc. | 59,768 | 5,126 | ||||
American Water Works Co. Inc. | 30,675 | 4,635 | ||||
Republic Services Inc. | 35,638 | 4,287 | ||||
Edison International | 63,273 | 4,013 | ||||
PPL Corp. | 127,131 | 3,327 | ||||
CMS Energy Corp. | 47,796 | 3,059 | ||||
CenterPoint Energy Inc. | 98,962 | 2,707 | ||||
AES Corp. | 114,758 | 2,436 | ||||
Alliant Energy Corp. | 41,259 | 2,409 | ||||
Atmos Energy Corp. | 21,308 | 2,340 | ||||
NiSource Inc. | 65,275 | 1,888 | ||||
Essential Utilities Inc. | 37,405 | 1,762 | ||||
UGI Corp. | 34,131 | 1,312 | ||||
OGE Energy Corp. | 33,760 | 1,268 | ||||
* | Stericycle Inc. | 16,448 | 960 | |||
IDACORP Inc. | 8,367 | 870 | ||||
* | Evoqua Water Technologies Corp. | 19,918 | 850 | |||
Portland General Electric Co. | 16,703 | 848 | ||||
* | Clean Harbors Inc. | 8,811 | 841 | |||
ONE Gas Inc. | 10,044 | 835 | ||||
New Jersey Resources Corp. | 18,662 | 814 | ||||
Hawaiian Electric Industries Inc. | 19,427 | 796 | ||||
Southwest Gas Holdings Inc. | 10,726 | 761 | ||||
* | Casella Waste Systems Inc. Class A | 9,049 | 682 | |||
Spire Inc. | 9,826 | 659 |
Shares | Market Value• ($000) | |||||
Ormat Technologies Inc. | 9,101 | 649 | ||||
American States Water Co. | 7,053 | 594 | ||||
* | Sunrun Inc. | 21,673 | 591 | |||
Clearway Energy Inc. Class C | 16,581 | 554 | ||||
California Water Service Group | 9,719 | 553 | ||||
Avista Corp. | 12,337 | 551 | ||||
South Jersey Industries Inc. | 15,841 | 537 | ||||
NorthWestern Corp. | 8,649 | 523 | ||||
MGE Energy Inc. | 5,876 | 423 | ||||
Avangrid Inc. | 8,663 | 389 | ||||
Atlantica Sustainable Infrastructure plc | 10,147 | 342 | ||||
SJW Group | 4,368 | 285 | ||||
Northwest Natural Holding Co. | 5,200 | 270 | ||||
* | US Ecology Inc. | 3,988 | 189 | |||
* | Harsco Corp. | 13,234 | 158 | |||
Clearway Energy Inc. Class A | 2,969 | 91 | ||||
74,320 | ||||||
Total Common Stocks (Cost $5,352,450) | 6,104,471 | |||||
Temporary Cash Investments (0.2%) | ||||||
Money Market Fund (0.2%) | ||||||
3,4 | Vanguard Market Liquidity Fund, 0.138% (Cost $13,002) | 130,038 | 13,002 | |||
Total Investments (100.0%) (Cost $5,365,452) | 6,117,473 | |||||
Other Assets and Liabilities—Net (0.0%) | 2,262 | |||||
Net Assets (100%) | 6,119,735 |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $3,013,000. |
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 $3,162,000 was received for securities on loan, of which $3,161,000 is held in Vanguard Market Liquidity Fund and $1,000 is held in cash. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
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 | March 2022 | 69 | 15,070 | (777) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $5,352,450) | 6,104,471 |
Affiliated Issuers (Cost $13,002) | 13,002 |
Total Investments in Securities | 6,117,473 |
Investment in Vanguard | 208 |
Cash | 98 |
Cash Collateral Pledged—Futures Contracts | 693 |
Receivables for Accrued Income | 4,779 |
Receivables for Capital Shares Issued | 30 |
Total Assets | 6,123,281 |
Liabilities | |
Payables for Investment Securities Purchased | 151 |
Collateral for Securities on Loan | 3,162 |
Payables to Vanguard | 195 |
Variation Margin Payable—Futures Contracts | 38 |
Total Liabilities | 3,546 |
Net Assets | 6,119,735 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 5,403,677 |
Total Distributable Earnings (Loss) | 716,058 |
Net Assets | 6,119,735 |
Net Assets | |
Applicable to 77,675,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,119,735 |
Net Asset Value Per Share | $78.79 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends 1 | 33,068 |
Interest 2 | 4 |
Securities Lending—Net | 67 |
Total Income | 33,139 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 297 |
Management and Administrative | 2,131 |
Marketing and Distribution | 112 |
Custodian Fees | 22 |
Shareholders’ Reports | 51 |
Trustees’ Fees and Expenses | 2 |
Other Expenses | 8 |
Total Expenses | 2,623 |
Net Investment Income | 30,516 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | (5,776) |
Futures Contracts | 871 |
Realized Net Gain (Loss) | (4,905) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (427,644) |
Futures Contracts | (1,312) |
Change in Unrealized Appreciation (Depreciation) | (428,956) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (403,345) |
1 | Dividends are net of foreign withholding taxes of $8,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $4,000, ($2,000), less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $34,324,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 30,516 | 41,668 | |
Realized Net Gain (Loss) | (4,905) | 214,169 | |
Change in Unrealized Appreciation (Depreciation) | (428,956) | 783,171 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (403,345) | 1,039,008 | |
Distributions | |||
Total Distributions | (33,681) | (34,446) | |
Capital Share Transactions | |||
Issued | 1,402,645 | 2,829,322 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | (105,284) | (548,827) | |
Net Increase (Decrease) from Capital Share Transactions | 1,297,361 | 2,280,495 | |
Total Increase (Decrease) | 860,335 | 3,285,057 | |
Net Assets | |||
Beginning of Period | 5,259,400 | 1,974,343 | |
End of Period | 6,119,735 | 5,259,400 |
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | September 18, 20181 to August 31, 2019 | |
2021 | 2020 | |||
Net Asset Value, Beginning of Period | $84.42 | $64.47 | $51.25 | $50.00 |
Investment Operations | ||||
Net Investment Income2 | .435 | .873 | .846 | .792 |
Net Realized and Unrealized Gain (Loss) on Investments | (5.566) | 19.844 | 13.146 | .868 |
Total from Investment Operations | (5.131) | 20.717 | 13.992 | 1.660 |
Distributions | ||||
Dividends from Net Investment Income | (.499) | (.767) | (.772) | (.410) |
Distributions from Realized Capital Gains | — | — | — | — |
Total Distributions | (.499) | (.767) | (.772) | (.410) |
Net Asset Value, End of Period | $78.79 | $84.42 | $64.47 | $51.25 |
Total Return | -6.11% | 32.41% | 27.60% | 3.40% |
Ratios/Supplemental Data | ||||
Net Assets, End of Period (Millions) | $6,120 | $5,259 | $1,974 | $595 |
Ratio of Total Expenses to Average Net Assets | 0.09% | 0.09% | 0.12% | 0.12% 3 |
Ratio of Net Investment Income to Average Net Assets | 1.05% | 1.18% | 1.54% | 1.67% 3 |
Portfolio Turnover Rate4 | 3% | 6% | 6% | 6% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Inception. |
2 | Calculated based on average shares outstanding. |
3 | Annualized. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 6,103,734 | 736 | 1 | 6,104,471 |
Temporary Cash Investments | 13,002 | — | — | 13,002 |
Total | 6,116,736 | 736 | 1 | 6,117,473 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 777 | — | — | 777 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Tax Cost | 5,368,104 |
Gross Unrealized Appreciation | 1,066,343 |
Gross Unrealized Depreciation | (317,751) |
Net Unrealized Appreciation (Depreciation) | 748,592 |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
Shares (000) | Shares (000) | ||
Issued | 16,625 | 39,175 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | (1,250) | (7,500) | |
Net Increase (Decrease) in Shares Outstanding | 15,375 | 31,675 |
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• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
ESG International Stock ETF | Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period |
Based on Actual Fund Return | $1,000.00 | $ 909.40 | $0.57 |
Based on Hypothetical 5% Yearly Return | 1,000.00 | 1,024.20 | 0.60 |
Japan | 16.7% |
China | 9.6 |
United Kingdom | 8.4 |
Canada | 7.4 |
Switzerland | 6.6 |
Taiwan | 6.4 |
Australia | 4.9 |
Germany | 4.7 |
France | 4.1 |
South Korea | 3.9 |
India | 3.6 |
Netherlands | 3.2 |
Sweden | 2.3 |
Hong Kong | 2.0 |
Denmark | 1.7 |
Brazil | 1.4 |
Italy | 1.3 |
South Africa | 1.2 |
Spain | 1.0 |
Other | 9.6 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.6%) | ||||||
Australia (4.9%) | ||||||
Commonwealth Bank of Australia | 244,708 | 16,602 | ||||
CSL Ltd. | 69,852 | 13,281 | ||||
National Australia Bank Ltd. | 465,975 | 9,787 | ||||
Westpac Banking Corp. | 510,998 | 8,445 | ||||
Australia & New Zealand Banking Group Ltd. | 397,619 | 7,528 | ||||
Macquarie Group Ltd. | 48,329 | 6,360 | ||||
Wesfarmers Ltd. | 152,198 | 5,338 | ||||
Goodman Group | 290,758 | 4,704 | ||||
Transurban Group | 441,992 | 4,082 | ||||
Fortescue Metals Group Ltd. | 241,034 | 3,211 | ||||
James Hardie Industries plc | 79,783 | 2,605 | ||||
Amcor plc | 215,013 | 2,475 | ||||
Newcrest Mining Ltd. | 132,522 | 2,458 | ||||
Sonic Healthcare Ltd. | 87,252 | 2,226 | ||||
ASX Ltd. | 36,524 | 2,194 | ||||
Scentre Group | 945,896 | 2,101 | ||||
QBE Insurance Group Ltd. | 249,779 | 2,084 | ||||
Cochlear Ltd. | 12,480 | 2,037 | ||||
Telstra Corp. Ltd. | 671,562 | 1,930 | ||||
Brambles Ltd. | 267,744 | 1,928 | ||||
Dexus | 235,763 | 1,866 | ||||
Computershare Ltd. | 116,727 | 1,844 | ||||
Suncorp Group Ltd. | 226,307 | 1,760 | ||||
Ramsay Health Care Ltd. | 35,310 | 1,647 | ||||
GPT Group | 454,057 | 1,620 | ||||
Stockland | 518,163 | 1,568 | ||||
Mirvac Group | 786,063 | 1,466 | ||||
SEEK Ltd. | 74,575 | 1,456 | ||||
BlueScope Steel Ltd. | 97,943 | 1,450 | ||||
Insurance Australia Group Ltd. | 432,466 | 1,444 | ||||
Northern Star Resources Ltd. | 192,351 | 1,434 | ||||
Medibank Pvt Ltd. | 593,510 | 1,369 |
Shares | Market Value• ($000) | |||||
OZ Minerals Ltd. | 66,841 | 1,249 | ||||
* | Xero Ltd. | 17,504 | 1,204 | |||
Bank of Queensland Ltd. | 205,518 | 1,196 | ||||
* | Lynas Rare Earths Ltd. | 146,713 | 1,111 | |||
Lendlease Corp. Ltd. | 135,977 | 1,049 | ||||
Vicinity Centres | 798,056 | 1,039 | ||||
Incitec Pivot Ltd. | 416,535 | 935 | ||||
Charter Hall Group | 71,629 | 876 | ||||
Alumina Ltd. | 591,938 | 855 | ||||
Orica Ltd. | 78,097 | 833 | ||||
Orora Ltd. | 307,276 | 832 | ||||
Evolution Mining Ltd. | 259,493 | 802 | ||||
IGO Ltd. | 96,510 | 774 | ||||
Mineral Resources Ltd. | 20,962 | 699 | ||||
JB Hi-Fi Ltd. | 19,110 | 687 | ||||
* | Pilbara Minerals Ltd. | 340,739 | 684 | |||
ALS Ltd. | 75,676 | 656 | ||||
Bendigo & Adelaide Bank Ltd. | 93,789 | 655 | ||||
Atlas Arteria Ltd. | 133,861 | 637 | ||||
IDP Education Ltd. | 32,413 | 627 | ||||
* | NEXTDC Ltd. | 78,598 | 615 | |||
Domino's Pizza Enterprises Ltd. | 10,489 | 606 | ||||
Downer EDI Ltd. | 163,165 | 601 | ||||
Steadfast Group Ltd. | 163,940 | 549 | ||||
Challenger Ltd. | 104,825 | 516 | ||||
Metcash Ltd. | 165,198 | 496 | ||||
GDI Property Group | 583,571 | 445 | ||||
United Malt Grp Ltd. | 130,632 | 401 | ||||
nib holdings Ltd. | 80,923 | 382 | ||||
Super Retail Group Ltd. | 45,863 | 369 | ||||
Credit Corp. Group Ltd. | 15,994 | 357 | ||||
Perpetual Ltd. | 13,796 | 353 | ||||
REA Group Ltd. | 3,577 | 345 | ||||
* | AMP Ltd. | 486,748 | 335 | |||
Domain Holdings Australia Ltd. | 114,553 | 333 | ||||
Reece Ltd. | 23,338 | 330 | ||||
Data#3 Ltd. | 79,259 | 312 | ||||
Eagers Automotive Ltd. | 30,261 | 311 | ||||
National Storage REIT | 158,382 | 298 |
Shares | Market Value• ($000) | |||||
AddLife AB Class B | 12,688 | 289 | ||||
Aurizon Holdings Ltd. | 101,718 | 259 | ||||
Breville Group Ltd. | 12,982 | 257 | ||||
WiseTech Global Ltd. | 8,017 | 257 | ||||
carsales.com Ltd. | 15,881 | 240 | ||||
Centuria Capital Group | 111,358 | 235 | ||||
Altium Ltd. | 9,910 | 234 | ||||
InvoCare Ltd. | 24,245 | 228 | ||||
* | Chalice Mining Ltd. | �� 41,530 | 226 | |||
Iluka Resources Ltd. | 22,839 | 180 | ||||
Ansell Ltd. | 9,500 | 178 | ||||
* | Syrah Resources Ltd. | 167,282 | 174 | |||
Champion Iron Ltd. | 35,065 | 165 | ||||
* | Aurelia Metals Ltd. | 498,016 | 163 | |||
* | West African Resources Ltd. | 201,913 | 161 | |||
HUB24 Ltd. | 7,789 | 160 | ||||
* | Qantas Airways Ltd. | 42,527 | 158 | |||
Reliance Worldwide Corp. Ltd. | 46,940 | 158 | ||||
Qube Holdings Ltd. | 71,968 | 156 | ||||
Nine Entertainment Co. Holdings Ltd. | 74,037 | 150 | ||||
Boral Ltd. | 54,758 | 145 | ||||
Cleanaway Waste Management Ltd. | 69,633 | 141 | ||||
* | ioneer Ltd. | 350,386 | 135 | |||
Ramelius Resources Ltd. | 109,506 | 121 | ||||
* | Flight Centre Travel Group Ltd. | 9,113 | 117 | |||
Insignia Financial Ltd. | 40,515 | 113 | ||||
Harvey Norman Holdings Ltd. | 29,036 | 111 | ||||
Shopping Centres Australasia Property Group | 52,856 | 111 | ||||
Link Administration Holdings Ltd. | 28,529 | 110 | ||||
* | Uniti Group Ltd. | 45,815 | 110 | |||
* | Corporate Travel Management Ltd. | 6,734 | 107 | |||
Nickel Mines Ltd. | 95,314 | 107 | ||||
ARB Corp. Ltd. | 3,342 | 102 | ||||
CSR Ltd. | 24,170 | 101 | ||||
*,1 | Zip Co. Ltd. | 60,175 | 101 | |||
Healius Ltd. | 31,342 | 98 | ||||
Sims Ltd. | 7,140 | 95 | ||||
* | Perseus Mining Ltd. | 66,708 | 88 | |||
TPG Telecom Ltd. | 21,539 | 88 | ||||
* | Bellevue Gold Ltd. | 123,881 | 86 | |||
Premier Investments Ltd. | 4,095 | 83 | ||||
Pro Medicus Ltd. | 2,399 | 82 | ||||
CIMIC Group Ltd. | 5,063 | 81 | ||||
* | Webjet Ltd. | 19,517 | 76 | |||
Sandfire Resources Ltd. | 15,246 | 75 | ||||
* | De Grey Mining Ltd. | 88,500 | 73 |
Shares | Market Value• ($000) | |||||
* | Megaport Ltd. | 6,994 | 70 | |||
*,2 | Life360 Inc. | 18,422 | 70 | |||
Bapcor Ltd. | 14,467 | 68 | ||||
Adbri Ltd. | 27,646 | 67 | ||||
Ingenia Communities Group | 18,150 | 67 | ||||
Arena REIT | 18,438 | 66 | ||||
GrainCorp Ltd. Class A | 10,221 | 63 | ||||
* | Redbubble Ltd. | 46,071 | 62 | |||
Elders Ltd. | 7,156 | 60 | ||||
AUB Group Ltd. | 3,556 | 56 | ||||
Gold Road Resources Ltd. | 48,819 | 54 | ||||
Genworth Mortgage Insurance Australia Ltd. | 24,057 | 52 | ||||
* | Eclipx Group Ltd. | 30,424 | 51 | |||
* | Mayne Pharma Group Ltd. | 298,792 | 50 | |||
Aventus Group | 18,495 | 49 | ||||
MyState Ltd. | 13,978 | 49 | ||||
* | Australian Strategic Materials Ltd. | 8,162 | 49 | |||
Monadelphous Group Ltd. | 5,827 | 48 | ||||
* | Nuix Ltd. | 51,812 | 48 | |||
Collins Foods Ltd. | 5,870 | 47 | ||||
Netwealth Group Ltd. | 4,523 | 46 | ||||
Lovisa Holdings Ltd. | 3,122 | 46 | ||||
Costa Group Holdings Ltd. | 22,436 | 44 | ||||
Blackmores Ltd. | 715 | 43 | ||||
Clinuvel Pharmaceuticals Ltd. | 2,896 | 43 | ||||
Regis Resources Ltd. | 30,025 | 43 | ||||
Pendal Group Ltd. | 12,652 | 43 | ||||
* | G8 Education Ltd. | 46,012 | 42 | |||
* | oOh!media Ltd. | 34,176 | 42 | |||
Nufarm Ltd. | 10,332 | 41 | ||||
* | Temple & Webster Group Ltd. | 8,273 | 41 | |||
Cromwell Property Group | 61,810 | 40 | ||||
St. Barbara Ltd. | 41,818 | 40 | ||||
Abacus Property Group | 15,527 | 40 | ||||
NRW Holdings Ltd. | 25,309 | 40 | ||||
Codan Ltd. | 7,258 | 39 | ||||
Accent Group Ltd. | 27,592 | 38 | ||||
Pinnacle Investment Management Group Ltd. | 4,886 | 37 | ||||
IRESS Ltd. | 4,726 | 36 | ||||
Kelsian Group Ltd. | 6,017 | 32 | ||||
* | Western Areas Ltd. | 11,417 | 29 | |||
* | Nanosonics Ltd. | 9,467 | 29 | |||
* | EML Payments Ltd. | 16,303 | 29 | |||
* | Seven West Media Ltd. | 62,345 | 28 | |||
* | Mesoblast Ltd. | 34,468 | 28 |
Shares | Market Value• ($000) | |||||
Bega Cheese Ltd. | 8,184 | 28 | ||||
GUD Holdings Ltd. | 3,226 | 27 | ||||
* | PolyNovo Ltd. | 36,969 | 27 | |||
Lifestyle Communities Ltd. | 2,146 | 27 | ||||
Westgold Resources Ltd. | 15,645 | 26 | ||||
Select Harvests Ltd. | 6,347 | 25 | ||||
Perenti Global Ltd. | 44,483 | 25 | ||||
Technology One Ltd. | 3,371 | 24 | ||||
Hansen Technologies Ltd. | 6,467 | 23 | ||||
* | EVENT Hospitality & Entertainment Ltd. | 2,209 | 23 | |||
Virtus Health Ltd. | 4,070 | 22 | ||||
IPH Ltd. | 3,562 | 22 | ||||
* | Omni Bridgeway Ltd. | 9,325 | 22 | |||
Australian Finance Group Ltd. | 13,403 | 22 | ||||
* | City Chic Collective Ltd. | 7,253 | 21 | |||
* | Australian Agricultural Co. Ltd. | 16,440 | 20 | |||
* | Tyro Payments Ltd. | 17,724 | 20 | |||
Vita Group Ltd. | 87,934 | 19 | ||||
Emeco Holdings Ltd. | 28,238 | 19 | ||||
Platinum Asset Management Ltd. | 11,273 | 19 | ||||
* | Andromeda Metals Ltd. | 141,867 | 19 | |||
Australian Ethical Investment Ltd. | 3,651 | 19 | ||||
Southern Cross Media Group Ltd. | 14,219 | 18 | ||||
* | Audinate Group Ltd. | 3,334 | 18 | |||
Baby Bunting Group Ltd. | 4,663 | 16 | ||||
* | Nearmap Ltd. | 17,505 | 15 | |||
Sigma Healthcare Ltd. | 41,235 | 15 | ||||
Growthpoint Properties Australia Ltd. | 4,631 | 14 | ||||
BWX Ltd. | 7,540 | 13 | ||||
* | Starpharma Holdings Ltd. Class A | 19,552 | 12 | |||
GWA Group Ltd. | 7,421 | 12 | ||||
SG Fleet Group Ltd. | 6,490 | 12 | ||||
* | Superloop Ltd. | 18,891 | 12 | |||
Jupiter Mines Ltd. | 74,019 | 12 | ||||
Integral Diagnostics Ltd. | 4,784 | 12 | ||||
Humm Group Ltd. | 18,121 | 12 | ||||
Bravura Solutions Ltd. | 8,726 | 11 | ||||
* | Telix Pharmaceuticals Ltd. | 2,785 | 10 | |||
Mount Gibson Iron Ltd. | 22,959 | 9 | ||||
MACA Ltd. | 15,474 | 9 | ||||
* | AMA Group Ltd. | 35,873 | 9 | |||
Infomedia Ltd. | 8,559 | 9 | ||||
Navigator Global Investments Ltd. | 7,694 | 8 | ||||
* | Bubs Australia Ltd. | 24,806 | 8 |
Shares | Market Value• ($000) | |||||
* | Paradigm Biopharmaceuticals Ltd. | 10,110 | 8 | |||
* | Myer Holdings Ltd. | 20,551 | 6 | |||
McMillan Shakespeare Ltd. | 588 | 5 | ||||
Pact Group Holdings Ltd. | 2,475 | 5 | ||||
Service Stream Ltd. | 5,780 | 4 | ||||
* | Falcon Metals Ltd. | 12,750 | 4 | |||
* | Integral Diagnostics Ltd. | 617 | 2 | |||
155,243 | ||||||
Austria (0.2%) | ||||||
Erste Group Bank AG | 58,649 | 2,085 | ||||
Verbund AG | 10,327 | 1,245 | ||||
*,2 | BAWAG Group AG | 14,386 | 777 | |||
Raiffeisen Bank International AG | 40,270 | 656 | ||||
Wienerberger AG | 13,670 | 409 | ||||
*,3 | IMMOFINANZ AG | 8,746 | 225 | |||
ANDRITZ AG | 4,228 | 189 | ||||
CA Immobilien Anlagen AG | 4,074 | 139 | ||||
AT&S Austria Technologie & Systemtechnik AG | 1,913 | 105 | ||||
* | Lenzing AG | 778 | 86 | |||
Mayr Melnhof Karton AG | 437 | 82 | ||||
* | DO & CO AG | 639 | 63 | |||
Oesterreichische Post AG | 1,401 | 57 | ||||
Vienna Insurance Group AG Wiener Versicherung Gruppe | 1,829 | 48 | ||||
UNIQA Insurance Group AG | 4,150 | 33 | ||||
Palfinger AG | 963 | 29 | ||||
* | Telekom Austria AG Class A | 3,162 | 26 | |||
EVN AG | 933 | 26 | ||||
Strabag SE | 534 | 22 | ||||
* | Porr AG | 657 | 9 | |||
*,1 | CA Immobilien Anlagen AG Rights Exp. 3/30/22 | 3,557 | — | |||
6,311 | ||||||
Belgium (0.6%) | ||||||
KBC Group NV | 43,098 | 3,105 | ||||
* | Argenx SE | 7,983 | 2,311 | |||
UCB SA | 20,399 | 2,226 | ||||
Ageas SA/NV | 34,256 | 1,648 | ||||
Solvay SA | 13,233 | 1,476 | ||||
Ackermans & van Haaren NV | 5,431 | 1,014 | ||||
Groupe Bruxelles Lambert SA | 8,885 | 923 | ||||
Elia Group SA/NV | 6,119 | 881 | ||||
Warehouses De Pauw CVA | 20,498 | 806 | ||||
Aedifica SA | 6,242 | 706 | ||||
KBC Ancora | 14,486 | 652 |
Shares | Market Value• ($000) | |||||
Sofina SA | 1,534 | 596 | ||||
Cofinimmo SA | 4,317 | 564 | ||||
Proximus SADP | 25,171 | 500 | ||||
Xior Student Housing NV | 6,903 | 375 | ||||
Etablissements Franz Colruyt NV | 6,024 | 241 | ||||
D'ieteren Group | 1,457 | 235 | ||||
Montea NV | 1,034 | 129 | ||||
Euronav NV | 11,403 | 127 | ||||
Melexis NV | 1,313 | 120 | ||||
Befimmo SA | 2,034 | 108 | ||||
VGP NV | 410 | 105 | ||||
* | AGFA-Gevaert NV | 25,005 | 101 | |||
Barco NV | 4,253 | 97 | ||||
Bekaert SA | 1,577 | 69 | ||||
Telenet Group Holding NV | 1,974 | 69 | ||||
Retail Estates NV | 838 | 67 | ||||
Fagron | 3,571 | 62 | ||||
Shurgard Self Storage SA | 1,007 | 58 | ||||
Gimv NV | 870 | 52 | ||||
Wereldhave Belgium Comm VA | 768 | 51 | ||||
Econocom Group SA/NV | 11,140 | 45 | ||||
* | bpost SA | 5,723 | 39 | |||
Orange Belgium SA | 1,695 | 37 | ||||
* | Kinepolis Group NV | 550 | 35 | |||
* | Ontex Group NV | 4,403 | 31 | |||
Cie d'Entreprises CFE | 216 | 29 | ||||
* | Tessenderlo Group SA | 292 | 11 | |||
* | Mithra Pharmaceuticals SA | 173 | 3 | |||
19,704 | ||||||
Brazil (1.4%) | ||||||
UBS Group AG (Registered) | 447,962 | 8,241 | ||||
* | Itau Unibanco Holding SA Preference Shares | 538,078 | 2,642 | |||
Banco Bradesco SA Preference Shares | 640,224 | 2,508 | ||||
B3 SA - Brasil Bolsa Balcao | 831,430 | 2,339 | ||||
2 | Hapvida Participacoes e Investimentos SA | 547,274 | 1,281 | |||
Itausa SA Preference Shares | 590,765 | 1,144 | ||||
WEG SA | 197,662 | 1,120 | ||||
Suzano SA | 93,025 | 1,003 | ||||
Localiza Rent a Car SA | 77,321 | 861 | ||||
Banco do Brasil SA | 109,204 | 738 | ||||
Equatorial Energia SA | 147,576 | 730 | ||||
Gerdau SA Preference Shares | 140,800 | 698 | ||||
* | Itau Unibanco Holding SA | 161,000 | 676 | |||
Raia Drogasil SA | 149,320 | 676 | ||||
* | Natura & Co. Holding SA | 140,787 | 628 |
Shares | Market Value• ($000) | |||||
Lojas Renner SA | 124,942 | 618 | ||||
2 | Rede D'Or Sao Luiz SA | 61,097 | 602 | |||
* | Banco BTG Pactual SA | 112,200 | 557 | |||
Telefonica Brasil SA | 56,400 | 553 | ||||
* | Americanas SA | 90,116 | 528 | |||
Banco Bradesco SA | 157,123 | 515 | ||||
* | Magazine Luiza SA | 433,716 | 500 | |||
* | Rumo SA | 163,079 | 489 | |||
* | BRF SA | 149,580 | 472 | |||
BB Seguridade Participacoes SA | 99,500 | 439 | ||||
TOTVS SA | 64,388 | 413 | ||||
Klabin SA | 91,200 | 410 | ||||
Alupar Investimento SA | 81,400 | 406 | ||||
Cia Siderurgica Nacional SA | 80,834 | 398 | ||||
Transmissora Alianca de Energia Eletrica SA | 48,000 | 368 | ||||
* | Sul America SA | 53,090 | 362 | |||
Sendas Distribuidora SA | 133,700 | 348 | ||||
Energisa SA | 35,800 | 305 | ||||
CCR SA | 130,658 | 297 | ||||
* | TIM SA | 110,500 | 293 | |||
EDP - Energias do Brasil SA | 71,400 | 287 | ||||
Neoenergia SA | 91,200 | 284 | ||||
* | Cia de Saneamento Basico do Estado de Sao Paulo | 35,130 | 282 | |||
* | Cia de Locacao das Americas | 56,600 | 276 | |||
* | Gol Linhas Aereas Inteligentes SA Preference Shares | 76,579 | 250 | |||
* | BR Malls Participacoes SA | 137,700 | 250 | |||
* | Hypera SA | 38,600 | 250 | |||
Sao Martinho SA | 31,500 | 244 | ||||
Cia Energetica de Minas Gerais | 75,049 | 243 | ||||
Banco Santander Brasil SA | 39,832 | 236 | ||||
Marfrig Global Foods SA | 48,705 | 211 | ||||
Braskem SA Preference Shares Class A | 22,400 | 210 | ||||
Pet Center Comercio e Participacoes SA | 62,300 | 210 | ||||
Cia Energetica de Minas Gerais Preference Shares | 82,528 | 203 | ||||
Engie Brasil Energia SA | 24,300 | 188 | ||||
* | Azul SA Preference Shares | 38,463 | 186 | |||
CPFL Energia SA | 30,200 | 177 | ||||
Metalurgica Gerdau SA Preference Shares | 87,300 | 175 |
Shares | Market Value• ($000) | |||||
Cia Paranaense de Energia Preference Shares | 130,100 | 174 | ||||
YDUQS Participacoes SA | 40,900 | 168 | ||||
* | Marcopolo SA Preference Shares | 296,900 | 166 | |||
* | Instituto Hermes Pardini SA | 44,000 | 157 | |||
Santos Brasil Participacoes SA | 123,581 | 154 | ||||
Usinas Siderurgicas de Minas Gerais SA Usiminas Preference Shares Class A | 53,400 | 151 | ||||
* | Banco Inter SA unit | 38,100 | 148 | |||
Bradespar SA Preference Shares | 24,509 | 141 | ||||
Mahle-Metal Leve SA | 26,600 | 138 | ||||
* | M Dias Branco SA | 30,700 | 136 | |||
Dexco SA | 50,380 | 134 | ||||
Porto Seguro SA | 32,200 | 131 | ||||
* | Anima Holding SA | 94,213 | 131 | |||
* | Grupo De Moda Soma SA | 50,688 | 127 | |||
Omega Energia SA | 60,353 | 127 | ||||
* | CVC Brasil Operadora e Agencia de Viagens SA | 51,283 | 123 | |||
* | Iguatemi SA | 33,220 | 123 | |||
LOG Commercial Properties e Participacoes SA | 22,667 | 121 | ||||
Cia Paranaense de Energia | 101,500 | 120 | ||||
Light SA | 62,200 | 118 | ||||
SIMPAR SA | 58,300 | 118 | ||||
* | Camil Alimentos SA | 64,100 | 114 | |||
* | Multiplan Empreendimentos Imobiliarios SA | 26,300 | 112 | |||
Banco do Estado do Rio Grande do Sul SA Preference Shares Class B | 57,200 | 111 | ||||
Cia de Saneamento de Minas Gerais-COPASA | 40,200 | 110 | ||||
Atacadao SA | 29,700 | 110 | ||||
* | Cia de Saneamento do Parana | 27,700 | 108 | |||
Alpargatas SA Preference Shares | 21,500 | 107 | ||||
Cia Energetica de Sao Paulo Preference Shares Class B | 23,400 | 103 | ||||
Banco Pan SA Preference Shares | 53,100 | 102 | ||||
Intelbras SA Industria de Telecomunicacao Eletronica Brasileira | 15,600 | 101 |
Shares | Market Value• ($000) | |||||
Cyrela Brazil Realty SA Empreendimentos e Participacoes | 34,200 | 100 | ||||
Lojas Quero Quero SA | 64,700 | 100 | ||||
Unipar Carbocloro SA Preference Shares Class B | 5,383 | 98 | ||||
JHSF Participacoes SA | 92,000 | 98 | ||||
* | Grupo SBF SA | 22,200 | 98 | |||
BR Properties SA | 65,481 | 95 | ||||
AES Brasil Energia SA | 42,847 | 95 | ||||
Cia Brasileira de Distribuicao | 19,800 | 91 | ||||
* | Aeris Industria E Comercio De Equipamentos Para Geracao De Energia SA | 82,700 | 91 | |||
Arezzo Industria e Comercio SA | 5,600 | 88 | ||||
Fleury SA | 25,100 | 87 | ||||
* | Cia Ferro Ligas da Bahia - FERBASA Preference Shares | 10,100 | 86 | |||
Cia de Transmissao de Energia Eletrica Paulista Preference Shares | 17,400 | 82 | ||||
Usinas Siderurgicas de Minas Gerais SA Usiminas | 30,700 | 81 | ||||
* | Cogna Educacao | 181,500 | 80 | |||
* | EcoRodovias Infraestrutura e Logistica SA | 63,100 | 79 | |||
* | Banco Inter SA Ordinary Shares | 60,255 | 78 | |||
Grendene SA | 45,600 | 74 | ||||
Aliansce Sonae Shopping Centers sa | 17,300 | 74 | ||||
* | Hidrovias do Brasil SA | 121,500 | 71 | |||
* | BK Brasil Operacao e Assessoria a Restaurantes SA | 54,706 | 70 | |||
Odontoprev SA | 30,100 | 67 | ||||
* | Sequoia Logistica e Transportes SA | 22,000 | 63 | |||
2 | Meliuz SA | 133,005 | 60 | |||
Randon SA Implementos e Participacoes Preference Shares | 27,400 | 56 | ||||
2 | Ser Educacional SA | 25,900 | 56 | |||
* | C&A Modas Ltda. | 56,600 | 56 | |||
Ambipar Participacoes e Empreendimentos SA | 7,800 | 51 | ||||
Vivara Participacoes SA | 9,700 | 49 | ||||
Minerva SA | 22,907 | 48 | ||||
Direcional Engenharia SA | 18,900 | 44 |
Shares | Market Value• ($000) | |||||
Wiz Solucoes e Corretagem de Seguros SA | 31,400 | 44 | ||||
* | Iochpe Maxion SA | 16,900 | 43 | |||
Qualicorp Consultoria e Corretora de Seguros SA | 16,200 | 40 | ||||
Even Construtora e Incorporadora SA | 32,600 | 38 | ||||
MRV Engenharia e Participacoes SA | 15,100 | 35 | ||||
Boa Vista Servicos SA | 33,200 | 33 | ||||
* | Guararapes Confeccoes SA | 13,700 | 32 | |||
Bradespar SA | 6,300 | 32 | ||||
* | Tupy SA | 8,800 | 31 | |||
* | Cia de Saneamento do Parana Preference Shares | 37,400 | 29 | |||
Ez Tec Empreendimentos e Participacoes SA | 7,700 | 26 | ||||
*,2 | Banco Inter SA Preference Shares | 16,218 | 21 | |||
Construtora Tenda SA | 7,000 | 17 | ||||
* | Via SA | 20,800 | 15 | |||
* | Getnet Adquirencia e Servicos para Meios de Pagamento SA | 8,058 | 5 | |||
* | Americanas SA Rights Exp. 3/3/22 | 1,595 | 2 | |||
Iguatemi SA | 20 | — | ||||
45,113 | ||||||
Canada (7.4%) | ||||||
Royal Bank of Canada | 196,818 | 21,772 | ||||
Toronto-Dominion Bank | 251,413 | 20,288 | ||||
Bank of Nova Scotia | 163,416 | 11,842 | ||||
* | Shopify Inc. Class A (XNYS) | 15,748 | 10,933 | |||
Canadian National Railway Co. | 84,459 | 10,478 | ||||
Bank of Montreal | 86,324 | 9,857 | ||||
Canadian Pacific Railway Ltd. | 133,010 | 9,366 | ||||
Canadian Imperial Bank of Commerce | 58,370 | 7,388 | ||||
Nutrien Ltd. | 85,628 | 7,364 | ||||
3 | Manulife Financial Corp. | 254,804 | 5,162 | |||
Waste Connections Inc. | 41,048 | 5,068 | ||||
Alimentation Couche-Tard Inc. | 118,828 | 4,664 | ||||
Franco-Nevada Corp. | 29,620 | 4,362 | ||||
National Bank of Canada | 46,572 | 3,734 | ||||
Sun Life Financial Inc. | 70,853 | 3,726 | ||||
Agnico Eagle Mines Ltd. | 65,183 | 3,293 | ||||
Wheaton Precious Metals Corp. | 74,995 | 3,286 | ||||
Magna International Inc. | 42,122 | 3,130 |
Shares | Market Value• ($000) | |||||
* | CGI Inc. | 38,107 | 3,124 | |||
Fortis Inc. | 61,637 | 2,824 | ||||
Rogers Communications Inc. Class B | 54,347 | 2,808 | ||||
Intact Financial Corp. | 19,221 | 2,757 | ||||
Restaurant Brands International Inc. | 49,001 | 2,743 | ||||
Thomson Reuters Corp. | 26,665 | 2,696 | ||||
First Quantum Minerals Ltd. | 87,844 | 2,576 | ||||
Dollarama Inc. | 47,556 | 2,458 | ||||
Open Text Corp. | 49,932 | 2,173 | ||||
Loblaw Cos. Ltd. | 27,020 | 2,108 | ||||
Shaw Communications Inc. Class B | 62,691 | 1,880 | ||||
Algonquin Power & Utilities Corp. | 117,198 | 1,696 | ||||
RioCan REIT | 81,503 | 1,615 | ||||
Canadian Apartment Properties REIT | 37,856 | 1,576 | ||||
George Weston Ltd. | 14,232 | 1,543 | ||||
BCE Inc. | 29,308 | 1,539 | ||||
Metro Inc. Class A | 29,219 | 1,525 | ||||
Toromont Industries Ltd. | 17,625 | 1,494 | ||||
Gildan Activewear Inc. | 36,110 | 1,418 | ||||
West Fraser Timber Co. Ltd. | 14,207 | 1,418 | ||||
* | CAE Inc. | 52,511 | 1,405 | |||
CCL Industries Inc. Class B | 29,667 | 1,337 | ||||
2 | Hydro One Ltd. | 51,795 | 1,279 | |||
Granite REIT | 17,221 | 1,275 | ||||
Finning International Inc. | 43,043 | 1,252 | ||||
Empire Co. Ltd. Class A | 40,368 | 1,250 | ||||
Lundin Mining Corp. | 128,451 | 1,239 | ||||
* | Bausch Health Cos. Inc. | 51,443 | 1,237 | |||
Saputo Inc. | 49,118 | 1,204 | ||||
Ritchie Bros Auctioneers Inc. | 22,620 | 1,186 | ||||
Northland Power Inc. | 36,953 | 1,175 | ||||
Emera Inc. | 23,214 | 1,086 | ||||
Kinross Gold Corp. | 203,921 | 1,017 | ||||
Chartwell Retirement Residences | 101,153 | 971 | ||||
Yamana Gold Inc. | 188,873 | 928 | ||||
TELUS Corp. | 34,848 | 880 | ||||
H&R REIT | 83,996 | 857 | ||||
CI Financial Corp. | 52,053 | 852 | ||||
Boardwalk REIT | 18,768 | 836 | ||||
* | Descartes Systems Group Inc. | 11,453 | 816 | |||
Brookfield Infrastructure Corp. Class A (XTSE) | 11,454 | 808 | ||||
* | Kinaxis Inc. | 6,630 | 760 | |||
Choice Properties REIT | 65,180 | 747 | ||||
FirstService Corp. | 5,215 | 742 |
Shares | Market Value• ($000) | |||||
Canadian Western Bank | 24,076 | 705 | ||||
SSR Mining Inc. | 35,083 | 694 | ||||
* | Air Canada | 36,703 | 694 | |||
Canadian Utilities Ltd. Class A | 24,836 | 692 | ||||
Brookfield Renewable Corp. | 17,617 | 660 | ||||
Element Fleet Management Corp. | 66,834 | 656 | ||||
Atco Ltd. | 19,856 | 652 | ||||
Laurentian Bank of Canada | 17,693 | 594 | ||||
SmartCentres REIT | 23,581 | 592 | ||||
TMX Group Ltd. | 5,848 | 591 | ||||
BRP Inc. | 7,942 | 569 | ||||
* | BlackBerry Ltd. | 82,705 | 568 | |||
* | Ivanhoe Mines Ltd. Class A | 55,778 | 568 | |||
First Capital REIT | 38,034 | 545 | ||||
GFL Environmental Inc. (XTSE) | 17,916 | 524 | ||||
Canadian Tire Corp. Ltd. Class A | 3,529 | 520 | ||||
B2Gold Corp. | 125,717 | 508 | ||||
Alamos Gold Inc. Class A | 67,934 | 501 | ||||
Great-West Lifeco Inc. | 16,608 | 500 | ||||
* | Bombardier Inc. Class B | 380,611 | 474 | |||
* | Lightspeed Commerce Inc. | 17,870 | 470 | |||
AltaGas Ltd. | 21,245 | 468 | ||||
Capital Power Corp. | 15,193 | 467 | ||||
Colliers International Group Inc. | 3,300 | 453 | ||||
Innergex Renewable Energy Inc. | 30,154 | 438 | ||||
*,2 | Nuvei Corp. | 8,052 | 437 | |||
iA Financial Corp. Inc. | 7,270 | 432 | ||||
First Majestic Silver Corp. | 35,489 | 400 | ||||
* | Aritzia Inc. | 9,966 | 379 | |||
* | IAMGOLD Corp. | 128,321 | 377 | |||
Primo Water Corp. | 25,477 | 370 | ||||
* | Ballard Power Systems Inc. | 29,382 | 336 | |||
Linamar Corp. | 6,420 | 335 | ||||
Boyd Group Services Inc. | 2,519 | 329 | ||||
Artis REIT | 31,356 | 322 | ||||
* | Eldorado Gold Corp. | 28,302 | 311 | |||
* | Shopify Inc. Class A (XTSE) | 445 | 309 | |||
Dream Office REIT | 14,680 | 303 | ||||
* | Novagold Resources Inc. | 41,492 | 290 | |||
Methanex Corp. | 5,237 | 273 | ||||
Cascades Inc. | 25,363 | 263 | ||||
Primaris REIT | 20,999 | 237 | ||||
ECN Capital Corp. | 52,397 | 236 | ||||
* | Pretium Resources Inc. | 15,108 | 220 |
Shares | Market Value• ($000) | |||||
Premium Brands Holdings Corp. Class A | 2,309 | 213 | ||||
* | Canada Goose Holdings Inc. | 8,077 | 211 | |||
Centerra Gold Inc. | 18,761 | 183 | ||||
* | Equinox Gold Corp. | 25,223 | 179 | |||
NFI Group Inc. | 11,061 | 165 | ||||
Quebecor Inc. Class B | 7,347 | 161 | ||||
IGM Financial Inc. | 3,371 | 120 | ||||
Osisko Gold Royalties Ltd. | 9,083 | 112 | ||||
Hudbay Minerals Inc. | 12,934 | 105 | ||||
* | Home Capital Group Inc. Class B | 3,295 | 100 | |||
Boralex Inc. Class A | 3,323 | 97 | ||||
* | OceanaGold Corp. | 44,664 | 84 | |||
Cominar REIT | 7,440 | 69 | ||||
Maple Leaf Foods Inc. | 3,285 | 69 | ||||
Stella-Jones Inc. | 2,122 | 67 | ||||
* | Celestica Inc. | 5,525 | 66 | |||
Enghouse Systems Ltd. | 1,844 | 60 | ||||
* | Torex Gold Resources Inc. | 4,656 | 59 | |||
Stelco Holdings Inc. | 1,927 | 59 | ||||
* | Canfor Corp. | 2,478 | 56 | |||
GFL Environmental Inc. | 1,931 | 56 | ||||
Mullen Group Ltd. | 5,514 | 54 | ||||
Brookfield Infrastructure Corp. Class A | 700 | 49 | ||||
Transcontinental Inc. Class A | 2,624 | 42 | ||||
Winpak Ltd. | 1,013 | 31 | ||||
Cogeco Communications Inc. | 300 | 24 | ||||
Martinrea International Inc. | 2,613 | 20 | ||||
First National Financial Corp. | 384 | 13 | ||||
235,609 | ||||||
Chile (0.2%) | ||||||
Sociedad Quimica y Minera de Chile SA Preference Shares Class B | 12,917 | 858 | ||||
Banco de Chile | 6,986,440 | 741 | ||||
Sociedad Quimica y Minera de Chile SA ADR | 4,927 | 326 | ||||
Banco Santander Chile | 6,286,523 | 309 | ||||
Falabella SA | 93,106 | 307 | ||||
Cia Sud Americana de Vapores SA | 2,903,876 | 283 | ||||
Enel Americas SA | 2,092,009 | 245 | ||||
Empresas CMPC SA | 140,502 | 232 | ||||
Banco de Credito e Inversiones SA | 5,624 | 201 | ||||
Cencosud SA | 102,937 | 189 | ||||
CAP SA | 15,639 | 181 |
Shares | Market Value• ($000) | |||||
Inversiones Aguas Metropolitanas SA | 261,548 | 131 | ||||
* | Parque Arauco SA | 127,417 | 127 | |||
Salfacorp SA | 307,581 | 108 | ||||
SONDA SA | 278,933 | 99 | ||||
Empresa Nacional de Telecomunicaciones SA | 25,073 | 93 | ||||
Engie Energia Chile SA | 147,532 | 90 | ||||
Aguas Andinas SA Class A | 389,042 | 82 | ||||
Embotelladora Andina SA Preference Shares Class B | 36,365 | 79 | ||||
SMU SA | 775,148 | 78 | ||||
* | Itau CorpBanca Chile SA | 38,914,730 | 76 | |||
Colbun SA | 794,450 | 58 | ||||
Enel Chile SA | 1,759,607 | 58 | ||||
Inversiones La Construccion SA | 13,884 | 56 | ||||
Cencosud Shopping SA | 51,850 | 56 | ||||
Ripley Corp. SA | 158,688 | 26 | ||||
Plaza SA | 20,224 | 22 | ||||
5,111 | ||||||
China (9.6%) | ||||||
Tencent Holdings Ltd. | 867,060 | 46,788 | ||||
* | Alibaba Group Holding Ltd. | 2,046,432 | 26,939 | |||
*,2 | Meituan Class B | 565,255 | 12,557 | |||
China Construction Bank Corp. Class H | 13,464,000 | 10,098 | ||||
* | JD.com Inc. Class A | 228,753 | 8,171 | |||
Industrial & Commercial Bank of China Ltd. Class H | 11,403,000 | 6,807 | ||||
* | Baidu Inc. ADR | 41,020 | 6,253 | |||
Ping An Insurance Group Co. of China Ltd. Class H | 775,000 | 6,009 | ||||
China Merchants Bank Co. Ltd. Class H | 548,000 | 4,619 | ||||
* | NIO Inc. ADR | 185,686 | 4,241 | |||
NetEase Inc. | 213,615 | 4,132 | ||||
*,2 | Wuxi Biologics Cayman Inc. | 494,737 | 4,092 | |||
*,2 | Xiaomi Corp. Class B | 1,990,000 | 3,746 | |||
Bank of China Ltd. Class H | 9,199,000 | 3,581 | ||||
* | China Mengniu Dairy Co. Ltd. | 531,120 | 3,454 | |||
Li Ning Co. Ltd. | 321,678 | 3,213 | ||||
* | Pinduoduo Inc. ADR | 53,737 | 2,787 | |||
China Resources Land Ltd. | 542,000 | 2,636 | ||||
Sunny Optical Technology Group Co. Ltd. | 108,200 | 2,593 | ||||
*,2 | Kuaishou Technology | 219,200 | 2,537 |
Shares | Market Value• ($000) | |||||
China Overseas Land & Investment Ltd. | 822,500 | 2,511 | ||||
BYD Co. Ltd. Class H | 77,500 | 2,402 | ||||
ANTA Sports Products Ltd. | 156,000 | 2,383 | ||||
Shenzhou International Group Holdings Ltd. | 131,184 | 2,203 | ||||
China Life Insurance Co. Ltd. Class H | 1,312,000 | 2,173 | ||||
BYD Co. Ltd. Class A | 52,252 | 2,103 | ||||
* | Trip.com Group Ltd. ADR | 78,810 | 2,035 | |||
* | Li Auto Inc. ADR | 64,858 | 1,975 | |||
CSPC Pharmaceutical Group Ltd. | 1,647,280 | 1,953 | ||||
Contemporary Amperex Technology Co. Ltd. Class A | 22,024 | 1,888 | ||||
2 | Longfor Group Holdings Ltd. | 352,800 | 1,887 | |||
Country Garden Services Holdings Co. Ltd. | 307,000 | 1,836 | ||||
ENN Energy Holdings Ltd. | 126,300 | 1,829 | ||||
China Conch Venture Holdings Ltd. | 364,500 | 1,754 | ||||
Geely Automobile Holdings Ltd. | 931,900 | 1,736 | ||||
PICC Property & Casualty Co. Ltd. Class H | 1,602,000 | 1,691 | ||||
Xinyi Solar Holdings Ltd. | 826,000 | 1,500 | ||||
* | BeiGene Ltd. | 86,500 | 1,402 | |||
Sino Biopharmaceutical Ltd. | 2,142,000 | 1,367 | ||||
China Merchants Bank Co. Ltd. Class A | 163,000 | 1,290 | ||||
Ping An Insurance Group Co. of China Ltd. Class A | 156,500 | 1,263 | ||||
Haier Smart Home Co. Ltd. Class A | 310,300 | 1,259 | ||||
Agricultural Bank of China Ltd. Class A | 2,658,800 | 1,257 | ||||
Country Garden Holdings Co. Ltd. | 1,564,000 | 1,215 | ||||
China Longyuan Power Group Corp. Ltd. Class H | 585,000 | 1,207 | ||||
* | Kingdee International Software Group Co. Ltd. | 479,000 | 1,184 | |||
China National Building Material Co. Ltd. Class H | 906,000 | 1,162 | ||||
Hengan International Group Co. Ltd. | 218,500 | 1,159 | ||||
2 | Postal Savings Bank of China Co. Ltd. Class H | 1,361,000 | 1,117 |
Shares | Market Value• ($000) | |||||
* | COSCO SHIPPING Holdings Co. Ltd. Class H | 546,400 | 1,104 | |||
*,2 | Innovent Biologics Inc. | 227,500 | 1,027 | |||
Zhongsheng Group Holdings Ltd. | 139,000 | 971 | ||||
2 | China Tower Corp. Ltd. Class H | 8,134,000 | 948 | |||
Anhui Conch Cement Co. Ltd. Class H | 164,000 | 880 | ||||
Bank of China Ltd. Class A | 1,698,700 | 835 | ||||
China Taiping Insurance Holdings Co. Ltd. | 672,200 | 796 | ||||
2 | China Resources Pharmaceutical Group Ltd. | 1,605,500 | 794 | |||
Agricultural Bank of China Ltd. Class H | 2,084,000 | 789 | ||||
* | GDS Holdings Ltd. ADR | 17,458 | 777 | |||
ZTO Express Cayman Inc. ADR | 25,728 | 757 | ||||
China Gas Holdings Ltd. | 473,633 | 749 | ||||
*,2 | JD Health International Inc. | 99,000 | 739 | |||
Great Wall Motor Co. Ltd. Class A | 115,100 | 673 | ||||
Far East Horizon Ltd. | 788,000 | 672 | ||||
CITIC Securities Co. Ltd. Class H | 267,375 | 648 | ||||
China Cinda Asset Management Co. Ltd. Class H | 3,582,000 | 647 | ||||
Sinopharm Group Co. Ltd. Class H | 266,100 | 645 | ||||
* | KE Holdings Inc. ADR | 32,803 | 637 | |||
* | Alibaba Health Information Technology Ltd. | 898,000 | 629 | |||
LONGi Green Energy Technology Co. Ltd. Class A | 50,380 | 628 | ||||
* | Vipshop Holdings Ltd. ADR | 70,184 | 608 | |||
* | Lufax Holding Ltd. ADR | 88,234 | 571 | |||
China Pacific Insurance Group Co. Ltd. Class H | 204,200 | 569 | ||||
China Hongqiao Group Ltd. | 403,500 | 565 | ||||
Fu Shou Yuan International Group Ltd. | 752,000 | 557 | ||||
China Tourism Group Duty Free Corp. Ltd. Class A | 17,200 | 556 | ||||
Haitong Securities Co. Ltd. Class H | 637,200 | 548 | ||||
Industrial Bank Co. Ltd. Class A | 153,700 | 539 |
Shares | Market Value• ($000) | |||||
China Pacific Insurance Group Co. Ltd. Class A | 126,800 | 534 | ||||
WuXi AppTec Co. Ltd. Class A | 32,064 | 531 | ||||
2 | Ganfeng Lithium Co. Ltd. Class H | 31,000 | 526 | |||
Zhuzhou CRRC Times Electric Co. Ltd. | 100,300 | 523 | ||||
China Resources Gas Group Ltd. | 110,000 | 505 | ||||
Kingboard Holdings Ltd. | 106,000 | 496 | ||||
Great Wall Motor Co. Ltd. Class H | 231,500 | 487 | ||||
* | Genscript Biotech Corp. | 122,000 | 484 | |||
Beijing Enterprises Water Group Ltd. | 1,200,000 | 474 | ||||
* | Tencent Music Entertainment Group ADR | 87,752 | 473 | |||
Luxshare Precision Industry Co. Ltd. Class A | 65,799 | 457 | ||||
Kingsoft Corp. Ltd. | 121,200 | 453 | ||||
People's Insurance Co. Group of China Ltd. Class H | 1,397,000 | 449 | ||||
JOYY Inc. ADR | 9,631 | 446 | ||||
China Power International Development Ltd. | 781,000 | 443 | ||||
Bank of Communications Co. Ltd. Class A | 583,600 | 443 | ||||
China Vanke Co. Ltd. Class H | 183,600 | 436 | ||||
Muyuan Foods Co. Ltd. Class A | 47,112 | 429 | ||||
Guangdong Investment Ltd. | 308,000 | 414 | ||||
Zhejiang Expressway Co. Ltd. Class H | 450,000 | 406 | ||||
* | Daqo New Energy Corp. ADR | 8,395 | 403 | |||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A | 7,700 | 401 | ||||
Shandong Weigao Group Medical Polymer Co. Ltd. Class H | 272,000 | 376 | ||||
CITIC Securities Co. Ltd. Class A | 101,010 | 375 | ||||
360 DigiTech Inc. ADR | 19,684 | 369 | ||||
2 | Huatai Securities Co. Ltd. Class H | 222,400 | 364 | |||
Weichai Power Co. Ltd. Class A | 149,000 | 361 | ||||
Yuexiu REIT | 876,800 | 357 | ||||
Ping An Bank Co. Ltd. Class A | 141,700 | 355 |
Shares | Market Value• ($000) | |||||
CIFI Holdings Group Co. Ltd. | 499,000 | 348 | ||||
*,2 | Hua Hong Semiconductor Ltd. | 66,757 | 348 | |||
GF Securities Co. Ltd. Class A | 116,500 | 345 | ||||
2 | Guotai Junan Securities Co. Ltd. Class H | 228,800 | 337 | |||
BYD Electronic International Co. Ltd. | 118,500 | 334 | ||||
Xtep International Holdings Ltd. | 201,000 | 333 | ||||
China Vanke Co. Ltd. Class A | 108,700 | 331 | ||||
Flat Glass Group Co. Ltd. Class A | 42,100 | 330 | ||||
New China Life Insurance Co. Ltd. Class H | 113,400 | 325 | ||||
* | Huangshan Tourism Development Co. Ltd. Class B | 430,900 | 323 | |||
Fuyao Glass Industry Group Co. Ltd. Class A | 46,000 | 323 | ||||
* | New Oriental Education & Technology Group Inc. ADR | 209,395 | 316 | |||
* | Yihai International Holding Ltd. | 74,000 | 310 | |||
2 | Haidilao International Holding Ltd. | 134,000 | 309 | |||
Industrial & Commercial Bank of China Ltd. Class A | 416,000 | 308 | ||||
China Everbright Environment Group Ltd. | 427,000 | 307 | ||||
China Merchants Port Holdings Co. Ltd. | 162,000 | 305 | ||||
*,2 | China Literature Ltd. | 56,200 | 305 | |||
Hangzhou Tigermed Consulting Co. Ltd. Class A | 18,800 | 305 | ||||
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A | 5,300 | 305 | ||||
Guangzhou Automobile Group Co. Ltd. Class H | 306,000 | 303 | ||||
Huaneng Power International Inc. Class A | 216,500 | 303 | ||||
Jiangxi Copper Co. Ltd. Class H | 168,000 | 302 | ||||
*,2 | 3SBio Inc. | 380,500 | 302 | |||
* | Canadian Solar Inc. | 9,500 | 301 | |||
2 | Hygeia Healthcare Holdings Co. Ltd. | 54,945 | 300 | |||
2 | WuXi AppTec Co. Ltd. Class H | 20,936 | 298 | |||
BOE Technology Group Co. Ltd. Class A | 398,100 | 297 |
Shares | Market Value• ($000) | |||||
Wanhua Chemical Group Co. Ltd. Class A | 19,572 | 297 | ||||
China Minsheng Banking Corp. Ltd. Class A | 477,700 | 296 | ||||
China CITIC Bank Corp. Ltd. Class H | 628,000 | 295 | ||||
* | HUTCHMED China Ltd. | 53,500 | 295 | |||
NAURA Technology Group Co. Ltd. Class A | 6,004 | 291 | ||||
Hangzhou Steam Turbine Co. Ltd. Class B | 149,988 | 286 | ||||
* | JinkoSolar Holding Co. Ltd. ADR | 5,619 | 284 | |||
ZTE Corp. Class H | 115,200 | 284 | ||||
Pharmaron Beijing Co. Ltd. Class A | 14,587 | 281 | ||||
* | COSCO SHIPPING Holdings Co. Ltd. Class A | 99,780 | 280 | |||
* | Chinasoft International Ltd. | 306,000 | 279 | |||
China Medical System Holdings Ltd. | 152,000 | 271 | ||||
Weichai Power Co. Ltd. Class H | 159,000 | 269 | ||||
CRRC Corp. Ltd. Class A | 291,400 | 268 | ||||
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A | 39,300 | 265 | ||||
2 | Hansoh Pharmaceutical Group Co. Ltd. | 124,000 | 265 | |||
Eve Energy Co. Ltd. Class A | 18,300 | 263 | ||||
Will Semiconductor Co. Ltd. Shanghai Class A | 6,700 | 263 | ||||
Yuexiu Property Co. Ltd. | 259,600 | 260 | ||||
Bank of Communications Co. Ltd. Class H | 375,000 | 257 | ||||
Zhejiang Huayou Cobalt Co. Ltd. Class A | 13,000 | 257 | ||||
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H | 63,500 | 255 | ||||
Inner Mongolia Yili Industrial Group Co. Ltd. Class A | 40,100 | 252 | ||||
Haitong Securities Co. Ltd. Class A | 139,900 | 250 | ||||
China CITIC Bank Corp. Ltd. Class A | 340,800 | 249 | ||||
China State Construction International Holdings Ltd. | 176,000 | 248 | ||||
Ganfeng Lithium Co. Ltd. Class A | 10,200 | 248 | ||||
Sungrow Power Supply Co. Ltd. Class A | 12,780 | 248 |
Shares | Market Value• ($000) | |||||
2 | Fuyao Glass Industry Group Co. Ltd. Class H | 50,000 | 245 | |||
China Molybdenum Co. Ltd. Class A | 253,600 | 243 | ||||
2 | Topsports International Holdings Ltd. | 232,000 | 241 | |||
Tianjin Zhonghuan Semiconductor Co. Ltd. Class A | 31,000 | 238 | ||||
Tongwei Co. Ltd. Class A | 33,708 | 231 | ||||
*,2 | Jinxin Fertility Group Ltd. | 197,000 | 230 | |||
JA Solar Technology Co. Ltd. Class A | 15,100 | 229 | ||||
Hello Group Inc. ADR | 23,935 | 228 | ||||
*,2 | Ascletis Pharma Inc. | 394,000 | 225 | |||
China Jinmao Holdings Group Ltd. | 674,000 | 224 | ||||
*,2 | Weimob Inc. | 333,000 | 220 | |||
China Yangtze Power Co. Ltd. Class A | ��� 58,800 | 217 | ||||
Wingtech Technology Co. Ltd. Class A | 11,400 | 213 | ||||
Grand Pharmaceutical Group Ltd. | 264,500 | 209 | ||||
Shanghai Pharmaceuticals Holding Co. Ltd. Class H | 115,100 | 208 | ||||
Shandong Gold Mining Co. Ltd. Class A | 62,660 | 205 | ||||
* | TAL Education Group ADR | 71,176 | 202 | |||
2 | Jiumaojiu International Holdings Ltd. | 89,000 | 200 | |||
China Yongda Automobiles Services Holdings Ltd. | 169,000 | 197 | ||||
Jinke Smart Services Group Co. Ltd. Class H | 44,400 | 197 | ||||
*,2 | Luye Pharma Group Ltd. | 483,000 | 195 | |||
*,2 | Akeso Inc. | 74,000 | 195 | |||
China Suntien Green Energy Corp. Ltd. Class H | 286,000 | 191 | ||||
Dongyue Group Ltd. | 130,000 | 189 | ||||
Consun Pharmaceutical Group Ltd. | 396,000 | 189 | ||||
Guangzhou Automobile Group Co. Ltd. Class A | 92,000 | 188 | ||||
* | Air China Ltd. Class A | 120,000 | 188 | |||
* | China Southern Airlines Co. Ltd. Class A | 170,700 | 188 | |||
China SCE Group Holdings Ltd. | 924,000 | 186 | ||||
COSCO SHIPPING Ports Ltd. | 224,000 | 185 | ||||
China Traditional Chinese Medicine Holdings Co. Ltd. | 324,000 | 185 |
Shares | Market Value• ($000) | |||||
Shenzhen International Holdings Ltd. | 180,000 | 185 | ||||
* | Tongcheng Travel Holdings Ltd. | 98,400 | 183 | |||
Huatai Securities Co. Ltd. Class A | 71,600 | 181 | ||||
China Lesso Group Holdings Ltd. | 116,000 | 179 | ||||
Anhui Conch Cement Co. Ltd. Class A | 27,900 | 179 | ||||
China Overseas Property Holdings Ltd. | 165,000 | 179 | ||||
Kingboard Laminates Holdings Ltd. | 107,000 | 178 | ||||
Dongfeng Motor Group Co. Ltd. Class H | 206,000 | 177 | ||||
TravelSky Technology Ltd. Class H | 94,000 | 177 | ||||
* | Alibaba Pictures Group Ltd. | 1,750,000 | 175 | |||
*,2 | Shanghai Junshi Biosciences Co. Ltd. Class H | 25,800 | 175 | |||
* | Weibo Corp. ADR | 6,297 | 173 | |||
Hopson Development Holdings Ltd. | 83,440 | 172 | ||||
* | Lifetech Scientific Corp. | 432,000 | 171 | |||
Western Region Gold Co. Ltd. Class A | 59,800 | 170 | ||||
China Merchants Securities Co. Ltd. Class A | 66,620 | 168 | ||||
* | XD Inc. | 49,200 | 160 | |||
FinVolution Group ADR | 38,250 | 156 | ||||
China Datang Corp. Renewable Power Co. Ltd. Class H | 412,000 | 156 | ||||
China Railway Tielong Container Logistics Co. Ltd. Class A | 171,300 | 155 | ||||
2 | Yadea Group Holdings Ltd. | 104,000 | 154 | |||
Huaneng Power International Inc. Class H | 260,000 | 153 | ||||
CIFI Ever Sunshine Services Group Ltd. | 84,000 | 153 | ||||
Sinotruk Hong Kong Ltd. | 101,500 | 152 | ||||
Shenzhen Inovance Technology Co. Ltd. Class A | 14,900 | 152 | ||||
*,2 | CanSino Biologics Inc. Class H | 8,400 | 152 | |||
* | Seazen Group Ltd. | 286,567 | 151 | |||
Bosideng International Holdings Ltd. | 260,000 | 148 | ||||
Guangdong Haid Group Co. Ltd. Class A | 14,100 | 148 |
Shares | Market Value• ($000) | |||||
Xinyi Energy Holdings Ltd. | 288,000 | 148 | ||||
Jiangsu Jiangyin Rural Commercial Bank Co. Ltd. Class A | 236,500 | 147 | ||||
China Life Insurance Co. Ltd. Class A | 32,200 | 147 | ||||
Mango Excellent Media Co. Ltd. Class A | 26,800 | 146 | ||||
SF Holding Co. Ltd. Class A | 15,200 | 146 | ||||
2 | China New Higher Education Group Ltd. | 397,000 | 146 | |||
* | GOME Retail Holdings Ltd. | 1,955,000 | 145 | |||
JCET Group Co. Ltd. Class A | 32,500 | 145 | ||||
GoerTek Inc. Class A | 20,500 | 144 | ||||
Shanghai Pudong Development Bank Co. Ltd. Class A | 107,300 | 143 | ||||
Iflytek Co. Ltd. Class A | 18,100 | 142 | ||||
* | COFCO Joycome Foods Ltd. | 325,000 | 142 | |||
*,2 | Venus MedTech Hangzhou Inc. Class H | 51,000 | 142 | |||
Xinjiang Goldwind Science & Technology Co. Ltd. Class A | 59,100 | 141 | ||||
* | Differ Group Holding Co. Ltd. | 450,000 | 139 | |||
Baoshan Iron & Steel Co. Ltd. Class A | 119,100 | 137 | ||||
Shenwan Hongyuan Group Co. Ltd. Class A | 186,400 | 136 | ||||
Shanghai Pudong Construction Co. Ltd. Class A | 131,500 | 135 | ||||
Poly Property Services Co. Ltd. Class H | 19,000 | 135 | ||||
China Everbright Bank Co. Ltd. Class A | 253,300 | 134 | ||||
China Construction Bank Corp. Class A | 139,600 | 134 | ||||
* | C&D Property Management Group Co. Ltd. | 263,000 | 134 | |||
*,2 | Yidu Tech Inc. | 92,600 | 133 | |||
Jiangxi Copper Co. Ltd. Class A | 36,500 | 130 | ||||
* | Noah Holdings Ltd. ADR | 4,538 | 129 | |||
Citic Pacific Special Steel Group Co. Ltd. Class A | 34,900 | 128 | ||||
* | Tongdao Liepin Group | 53,600 | 128 | |||
Yonyou Network Technology Co. Ltd. Class A | 25,400 | 127 |
Shares | Market Value• ($000) | |||||
Haitian International Holdings Ltd. | 47,000 | 125 | ||||
Greentown China Holdings Ltd. | 83,000 | 125 | ||||
Shanghai Pharmaceuticals Holding Co. Ltd. Class A | 42,100 | 125 | ||||
SAIC Motor Corp. Ltd. Class A | 43,000 | 124 | ||||
* | Shanghai International Airport Co. Ltd. Class A | 14,877 | 124 | |||
Ecovacs Robotics Co. Ltd. Class A | 5,700 | 123 | ||||
Qinhuangdao Port Co. Ltd. Class A | 264,400 | 119 | ||||
*,2 | InnoCare Pharma Ltd. | 73,000 | 116 | |||
Nine Dragons Paper Holdings Ltd. | 120,000 | 115 | ||||
China Resources Cement Holdings Ltd. | 134,000 | 115 | ||||
Agile Group Holdings Ltd. | 248,000 | 113 | ||||
Ginlong Technologies Co. Ltd. Class A | 2,800 | 113 | ||||
KWG Group Holdings Ltd. | 238,500 | 112 | ||||
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A | 99,500 | 112 | ||||
MINISO Group Holding Ltd. ADR | 12,885 | 112 | ||||
ZTE Corp. Class A | 23,900 | 111 | ||||
*,2 | Alphamab Oncology | 93,000 | 111 | |||
Shoucheng Holdings Ltd. | 663,600 | 110 | ||||
China Molybdenum Co. Ltd. Class H | 180,000 | 108 | ||||
Hoshine Silicon Industry Co. Ltd. Class A | 4,500 | 107 | ||||
Sichuan Expressway Co. Ltd. Class A | 140,700 | 107 | ||||
Hundsun Technologies Inc. Class A | 12,600 | 105 | ||||
* | LexinFintech Holdings Ltd. ADR | 29,641 | 105 | |||
*,2 | China Renaissance Holdings Ltd. | 70,200 | 105 | |||
Beijing North Star Co. Ltd. Class A | 258,600 | 103 | ||||
*,2 | Peijia Medical Ltd. | 65,000 | 103 | |||
China Water Affairs Group Ltd. | 92,000 | 102 | ||||
Joinn Laboratories China Co. Ltd. Class A | 5,560 | 102 | ||||
2 | Shimao Services Holdings Ltd. | 139,000 | 102 | |||
Walvax Biotechnology Co. Ltd. Class A | 13,500 | 101 |
Shares | Market Value• ($000) | |||||
2 | China Yuhua Education Corp. Ltd. | 390,000 | 101 | |||
B-Soft Co. Ltd. Class A | 68,560 | 101 | ||||
Shanghai Jin Jiang Capital Co. Ltd. Class H | 262,000 | 100 | ||||
China Minmetals Rare Earth Co. Ltd. Class A | 16,700 | 100 | ||||
Shandong Nanshan Aluminum Co. Ltd. Class A | 128,400 | 100 | ||||
* | Baozun Inc. Class A | 28,643 | 100 | |||
Focus Media Information Technology Co. Ltd. Class A | 81,600 | 99 | ||||
Sihuan Pharmaceutical Holdings Group Ltd. | 457,000 | 98 | ||||
* | Shanghai Zhenhua Heavy Industries Co. Ltd. Class B | 373,500 | 98 | |||
COFCO Capital Holdings Co. Ltd. Class A | 70,300 | 98 | ||||
China Evergrande Group | 473,000 | 97 | ||||
Guangzhou R&F Properties Co. Ltd. Class H | 227,200 | 97 | ||||
2 | Sunac Services Holdings Ltd. | 113,000 | 97 | |||
Suzhou TA&A Ultra Clean Technology Co. Ltd. Class A | 6,800 | 97 | ||||
*,2 | China Logistics Property Holdings Co. Ltd. | 174,000 | 96 | |||
2 | China Merchants Securities Co. Ltd. Class H | 75,660 | 96 | |||
Yangzijiang Shipbuilding Holdings Ltd. | 92,600 | 95 | ||||
2 | A-Living Smart City Services Co. Ltd. | 52,750 | 95 | |||
Chongqing Changan Automobile Co. Ltd. Class A | 45,860 | 95 | ||||
COSCO SHIPPING Development Co. Ltd. Class A | 177,900 | 94 | ||||
* | China Ruyi Holdings Ltd. | 316,000 | 94 | |||
* | Yeahka Ltd. | 33,200 | 92 | |||
Wuxi Taiji Industry Co. Ltd. Class A | 70,900 | 91 | ||||
Jiangsu Eastern Shenghong Co. Ltd. Class A | 29,600 | 90 | ||||
Jiangsu Expressway Co. Ltd. Class A | 63,900 | 90 | ||||
GF Securities Co. Ltd. Class H | 59,400 | 89 | ||||
Tiangong International Co. Ltd. | 188,000 | 89 |
Shares | Market Value• ($000) | |||||
Chaozhou Three-Circle Group Co. Ltd. Class A | 16,100 | 89 | ||||
Guangdong Great River Smarter Logistics Co. Ltd. Class A | 24,500 | 88 | ||||
* | Bilibili Inc. ADR | 2,763 | 87 | |||
CGN New Energy Holdings Co. Ltd. | 130,000 | 87 | ||||
Winning Health Technology Group Co. Ltd. Class A | 47,950 | 87 | ||||
Bethel Automotive Safety Systems Co. Ltd. Class A | 6,800 | 87 | ||||
*,2 | Remegen Co. Ltd. Class H | 10,000 | 87 | |||
Xinjiang Goldwind Science & Technology Co. Ltd. Class H | 52,800 | 86 | ||||
*,2 | Zhou Hei Ya International Holdings Co. Ltd. | 129,000 | 86 | |||
* | OneConnect Financial Technology Co. Ltd. ADR | 54,513 | 86 | |||
Beijing Jingneng Clean Energy Co. Ltd. Class H | 278,000 | 85 | ||||
Beibuwan Port Co. Ltd. Class A | 67,590 | 85 | ||||
Jiangsu Jiejie Microelectronics Co. Ltd. Class A | 18,800 | 85 | ||||
2 | Simcere Pharmaceutical Group Ltd. | 69,000 | 84 | |||
Jiangsu Zhongtian Technology Co. Ltd. Class A | 27,900 | 83 | ||||
China Zhenhua Group Science & Technology Co. Ltd. Class A | 4,400 | 82 | ||||
*,2 | ZhongAn Online P&C Insurance Co. Ltd. Class H | 25,000 | 82 | |||
* | Shanghai Fudan Microelectronics Group Co. Ltd. Class H | 30,000 | 81 | |||
Sany Heavy Equipment International Holdings Co. Ltd. | 77,000 | 80 | ||||
2 | Orient Securities Co. Ltd. Class H | 110,000 | 80 | |||
Guotai Junan Securities Co. Ltd. Class A | 30,100 | 80 | ||||
China Minsheng Banking Corp. Ltd. Class H | 202,000 | 79 | ||||
* | Skyworth Group Ltd. | 139,111 | 79 | |||
* | Sohu.com Ltd. ADR | 4,291 | 79 | |||
Yunnan Baiyao Group Co. Ltd. Class A | 5,500 | 79 |
Shares | Market Value• ($000) | |||||
Guangzhou Restaurant Group Co. Ltd. Class A | 22,000 | 79 | ||||
Tangrenshen Group Co. Ltd. Class A | 55,800 | 79 | ||||
* | Chengxin Lithium Group Co. Ltd. Class A | 8,400 | 79 | |||
*,3 | EHang Holdings Ltd. ADR | 5,306 | 79 | |||
Sinotrans Ltd. Class A | 114,000 | 78 | ||||
* | Baidu Inc. Class A | 4,156 | 78 | |||
* | Ausnutria Dairy Corp. Ltd. | 61,000 | 77 | |||
Shanghai Weaver Network Co. Ltd. Class A | 7,320 | 77 | ||||
Concord New Energy Group Ltd. | 820,000 | 77 | ||||
* | Niu Technologies ADR | 6,214 | 77 | |||
* | Canaan Inc. ADR | 14,636 | 77 | |||
Greentown Service Group Co. Ltd. | 76,000 | 76 | ||||
Zhongyu Energy Holdings Ltd. | 81,000 | 76 | ||||
* | DouYu International Holdings Ltd. ADR | 36,721 | 76 | |||
Shanghai Mechanical & Electrical Industry Co. Ltd. Class B | 57,700 | 75 | ||||
Zhaojin Mining Industry Co. Ltd. Class H | 85,500 | 75 | ||||
KWG Living Group Holdings Ltd. | 180,906 | 75 | ||||
Sinoma International Engineering Co. Class A | 46,000 | 74 | ||||
Chengtun Mining Group Co. Ltd. Class A | 42,200 | 74 | ||||
Tianneng Power International Ltd. | 80,000 | 73 | ||||
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class B | 80,800 | 72 | ||||
Angang Steel Co. Ltd. Class A | 118,000 | 72 | ||||
2 | Hope Education Group Co. Ltd. | 706,000 | 72 | |||
*,2 | Ocumension Therapeutics | 63,500 | 72 | |||
China Galaxy Securities Co. Ltd. Class H | 124,000 | 71 | ||||
Anhui Expressway Co. Ltd. Class H | 74,000 | 71 | ||||
* | Colour Life Services Group Co. Ltd. | 706,000 | 71 | |||
MLS Co. Ltd. Class A | 34,200 | 71 | ||||
Jiangxi Lianchuang Optoelectronic Science & Technology Co. Ltd. Class A | 17,500 | 71 |
Shares | Market Value• ($000) | |||||
Sinomine Resource Group Co. Ltd. Class A | 4,100 | 71 | ||||
China Oriental Group Co. Ltd. | 240,000 | 70 | ||||
China Education Group Holdings Ltd. | 82,000 | 70 | ||||
IReader Technology Co. Ltd. Class A | 24,200 | 70 | ||||
Tianjin Guangyu Development Co. Ltd. Class A | 20,800 | 70 | ||||
China Resources Medical Holdings Co. Ltd. | 124,500 | 70 | ||||
CQ Pharmaceutical Holding Co. Ltd. Class A | 87,500 | 70 | ||||
* | China Eastern Airlines Corp. Ltd. Class A | 82,000 | 70 | |||
Zhejiang Hailiang Co. Ltd. Class A | 35,700 | 69 | ||||
Three's Co. Media Group Co. Ltd. Class A | 2,500 | 69 | ||||
* | Brilliance China Automotive Holdings Ltd. | 90,000 | 68 | |||
* | Beijing Capital International Airport Co. Ltd. Class H | 106,000 | 68 | |||
Jiangxi Huangshanghuang Group Food Co. Ltd. Class A | 34,400 | 68 | ||||
* | Hainan Meilan International Airport Co. Ltd. | 24,000 | 68 | |||
* | Topchoice Medical Corp. Class A | 2,604 | 67 | |||
Orient Securities Co. Ltd. Class A | 34,400 | 67 | ||||
Luoxin Pharmaceuticals Group Stock Co. Ltd. Class A | 46,400 | 67 | ||||
China Everbright Ltd. | 60,000 | 66 | ||||
Grinm Advanced Materials Co. Ltd. Class A | 26,600 | 66 | ||||
China Communications Services Corp. Ltd. Class H | 118,000 | 65 | ||||
Anhui Honglu Steel Construction Group Co. Ltd. Class A | 8,300 | 65 | ||||
* | New Hope Liuhe Co. Ltd. Class A | 26,300 | 64 | |||
Shanghai Mechanical & Electrical Industry Co. Ltd. Class A | 27,800 | 64 |
Shares | Market Value• ($000) | |||||
Shanghai Sinyang Semiconductor Materials Co. Ltd. Class A | 10,200 | 64 | ||||
Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd. Class A | 2,500 | 64 | ||||
Zhejiang HangKe Technology Inc. Co. Class A | 5,180 | 64 | ||||
Anji Microelectronics Technology Shanghai Co. Ltd. Class A | 1,623 | 63 | ||||
2 | Cathay Media & Education Group Inc. | 274,000 | 63 | |||
Hubei Xingfa Chemicals Group Co. Ltd. Class A | 9,400 | 62 | ||||
Sino Wealth Electronic Ltd. Class A | 6,790 | 62 | ||||
Digital China Holdings Ltd. | 112,000 | 61 | ||||
Shaanxi International Trust Co. Ltd. Class A | 118,700 | 61 | ||||
Henan Shuanghui Investment & Development Co. Ltd. Class A | 13,400 | 61 | ||||
China Harmony Auto Holding Ltd. | 128,500 | 61 | ||||
Wuxi Shangji Automation Co. Ltd. Class A | 2,400 | 61 | ||||
2 | BAIC Motor Corp. Ltd. Class H | 170,500 | 60 | |||
2 | Dali Foods Group Co. Ltd. | 114,000 | 60 | |||
Tian Lun Gas Holdings Ltd. | 73,000 | 60 | ||||
Bank of Shanghai Co. Ltd. Class A | 53,800 | 60 | ||||
Shenzhen Kangtai Biological Products Co. Ltd. Class A | 4,500 | 60 | ||||
Shanghai Jinjiang International Hotels Co. Ltd. Class A | 6,700 | 60 | ||||
DeHua TB New Decoration Materials Co. Ltd. Class A | 30,200 | 60 | ||||
China International Marine Containers Group Co. Ltd. Class A | 24,700 | 59 | ||||
Shandong Chenming Paper Holdings Ltd. Class B | 128,500 | 58 | ||||
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd. Class A | 17,400 | 58 | ||||
Times Neighborhood Holdings Ltd. | 171,000 | 58 |
Shares | Market Value• ($000) | |||||
Shanxi Taigang Stainless Steel Co. Ltd. Class A | 49,600 | 58 | ||||
Shanghai Tongji Science & Technology Industrial Co. Ltd. Class A | 44,700 | 58 | ||||
2 | Blue Moon Group Holdings Ltd. | 74,500 | 58 | |||
* | Fufeng Group Ltd. | 153,000 | 57 | |||
Bank of Chongqing Co. Ltd. Class H | 95,000 | 57 | ||||
Yangzhou Yangjie Electronic Technology Co. Ltd. Class A | 5,200 | 57 | ||||
2 | Shandong Gold Mining Co. Ltd. Class H | 30,600 | 57 | |||
Ming Yang Smart Energy Group Ltd. Class A | 13,800 | 57 | ||||
Zhongfu Information Inc. Class A | 11,300 | 57 | ||||
* | Beijing Enterprises Clean Energy Group Ltd. | 4,280,000 | 56 | |||
2 | Joinn Laboratories China Co. Ltd. Class H | 6,700 | 56 | |||
*,2 | YiChang HEC ChangJiang Pharmaceutical Co. Ltd. Class H | 68,400 | 55 | |||
2 | Redco Properties Group Ltd. | 202,000 | 55 | |||
Sailun Group Co. Ltd. Class A | 28,500 | 55 | ||||
* | Gaotu Techedu Inc. ADR | 31,244 | 55 | |||
Zhuguang Holdings Group Co. Ltd. | 276,000 | 54 | ||||
* | Suning.com Co. Ltd. Class A | 93,700 | 54 | |||
Xiamen Faratronic Co. Ltd. Class A | 1,600 | 54 | ||||
China Galaxy Securities Co. Ltd. Class A | 33,800 | 54 | ||||
YGSOFT Inc. Class A | 38,500 | 54 | ||||
Chacha Food Co. Ltd. Class A | 5,700 | 54 | ||||
Longshine Technology Group Co. Ltd. Class A | 10,300 | 54 | ||||
Wellhope Foods Co. Ltd. Class A | 35,500 | 54 | ||||
Beijing United Information Technology Co. Ltd. Class A | 2,900 | 54 | ||||
Shanghai Liangxin Electrical Co. Ltd. Class A | 23,700 | 54 | ||||
Jiayuan International Group Ltd. | 166,000 | 53 | ||||
Huaxia Bank Co. Ltd. Class A | 58,800 | 53 |
Shares | Market Value• ($000) | |||||
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class A | 30,200 | 53 | ||||
Anhui Expressway Co. Ltd. Class A | 43,500 | 53 | ||||
* | Pengdu Agriculture & Animal Husbandry Co. Ltd. Class A | 95,300 | 53 | |||
* | Shanghai Fudan Microelectronics Group Co. Ltd. Class A | 8,120 | 53 | |||
Livzon Pharmaceutical Group Inc. Class A | 8,500 | 52 | ||||
Shandong Dawn Polymer Co. Ltd. Class A | 21,100 | 52 | ||||
Zhejiang Jiuzhou Pharmaceutical Co. Ltd. Class A | 6,800 | 52 | ||||
Sichuan Expressway Co. Ltd. Class H | 184,000 | 51 | ||||
PAX Global Technology Ltd. | 68,000 | 51 | ||||
Shenzhen Anche Technologies Co. Ltd. Class A | 15,900 | 51 | ||||
SSY Group Ltd. | 106,000 | 50 | ||||
China TransInfo Technology Co. Ltd. Class A | 22,600 | 50 | ||||
Skyfame Realty Holdings Ltd. | 464,000 | 50 | ||||
* | Pangang Group Vanadium Titanium & Resources Co. Ltd. Class A | 75,200 | 50 | |||
Risen Energy Co. Ltd. Class A | 11,800 | 50 | ||||
Wuhan DR Laser Technology Corp. Ltd. Class A | 1,400 | 50 | ||||
* | Li Auto Inc. Class A | 3,506 | 50 | |||
*,2 | Mobvista Inc. | 62,000 | 50 | |||
CPMC Holdings Ltd. | 89,000 | 49 | ||||
Everbright Securities Co. Ltd. Class A | 23,000 | 49 | ||||
Guangzhou Great Power Energy & Technology Co. Ltd. Class A | 6,700 | 49 | ||||
*,2 | Ascentage Pharma Group International | 20,800 | 49 | |||
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class A | 26,300 | 49 | ||||
Shenzhen Kstar Science & Technology Co. Ltd. Class A | 12,600 | 49 |
Shares | Market Value• ($000) | |||||
Tong Ren Tang Technologies Co. Ltd. Class H | 55,000 | 48 | ||||
NetDragon Websoft Holdings Ltd. | 21,500 | 48 | ||||
Huadong Medicine Co. Ltd. Class A | 7,900 | 48 | ||||
Perfect World Co. Ltd. Class A | �� 23,000 | 48 | ||||
Tianjin Capital Environmental Protection Group Co. Ltd. Class A | 42,700 | 48 | ||||
Victory Giant Technology Huizhou Co. Ltd. Class A | 11,000 | 48 | ||||
Shenzhen Kedali Industry Co. Ltd. Class A | 1,900 | 48 | ||||
Central China Management Co. Ltd. | 355,000 | 48 | ||||
Zhejiang Juhua Co. Ltd. Class A | 20,100 | 47 | ||||
Changchun Faway Automobile Components Co. Ltd. Class A | 26,600 | 47 | ||||
Chongqing Zaisheng Technology Corp. Ltd. Class A | 29,500 | 47 | ||||
YongXing Special Materials Technology Co. Ltd. Class A | 2,000 | 47 | ||||
Chongqing Rural Commercial Bank Co. Ltd. Class H | 125,000 | 46 | ||||
Hebei Chengde Lulu Co. Ltd. Class A | 30,000 | 46 | ||||
*,2 | Maoyan Entertainment | 42,000 | 46 | |||
Shanghai AJ Group Co. Ltd. Class A | 41,100 | 46 | ||||
SPIC Dongfang New Energy Corp. Class A | 56,700 | 46 | ||||
ZTO Express Cayman Inc. | 1,572 | 46 | ||||
C&D International Investment Group Ltd. | 25,000 | 46 | ||||
* | Roshow Technology Co. Ltd. Class A | 20,400 | 46 | |||
Greatview Aseptic Packaging Co. Ltd. | 128,000 | 45 | ||||
Guangzhou Kingmed Diagnostics Group Co. Ltd. Class A | 3,400 | 45 | ||||
Shanghai Belling Co. Ltd. Class A | 12,400 | 45 | ||||
* | Innuovo Technology Co. Ltd. Class A | 32,800 | 45 | |||
Guangxi Wuzhou Communications Co. Ltd. Class A | 69,400 | 45 |
Shares | Market Value• ($000) | |||||
* | Yatsen Holding Ltd. ADR | 33,334 | 45 | |||
Chaowei Power Holdings Ltd. | 175,000 | 44 | ||||
Shenzhen Expressway Corp. Ltd. | 27,700 | 44 | ||||
Yijiahe Technology Co. Ltd. Class A | 4,200 | 44 | ||||
* | Jiangsu Akcome Science & Technology Co. Ltd. Class A | 67,800 | 44 | |||
* | China Tungsten & Hightech Materials Co. Ltd. Class A | 19,100 | 44 | |||
Hisense Home Appliances Group Co. Ltd. Class A | 20,000 | 43 | ||||
China South Publishing & Media Group Co. Ltd. Class A | 28,800 | 43 | ||||
Kehua Data Co. Ltd. Class A | 8,100 | 43 | ||||
Xingda International Holdings Ltd. | 230,000 | 42 | ||||
* | Bank of Zhengzhou Co. Ltd. Class A | 86,031 | 42 | |||
Liaoning Port Co. Ltd. Class A | 149,600 | 42 | ||||
QuakeSafe Technologies Co. Ltd. | 3,200 | 42 | ||||
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class H | 61,400 | 41 | ||||
* | Yunnan Tin Co. Ltd. Class A | 10,200 | 41 | |||
Shanxi Securities Co. Ltd. Class A | 43,300 | 41 | ||||
Yantai Dongcheng Pharmaceutical Co. Ltd. Class A | 18,700 | 41 | ||||
Zhejiang Weixing New Building Materials Co. Ltd. Class A | 11,000 | 41 | ||||
2 | China Everbright Greentech Ltd. | 125,000 | 41 | |||
Xi'an Triangle Defense Co. Ltd. Class A | 5,500 | 41 | ||||
Wondershare Technology Group Co. Ltd. Class A | 6,500 | 41 | ||||
CSC Financial Co. Ltd. Class A | 9,800 | 40 | ||||
Shenzhen Gas Corp. Ltd. Class A | 30,200 | 40 | ||||
* | Ronshine China Holdings Ltd. | 126,000 | 40 | |||
Shanghai Medicilon Inc. Class A | 651 | 40 | ||||
Sinotrans Ltd. Class H | 123,000 | 39 |
Shares | Market Value• ($000) | |||||
* | China High Speed Transmission Equipment Group Co. Ltd. | 51,000 | 39 | |||
China Modern Dairy Holdings Ltd. | 213,000 | 39 | ||||
2 | Pharmaron Beijing Co. Ltd. Class H | 3,200 | 39 | |||
* | Air China Ltd. Class H | 50,000 | 38 | |||
Red Avenue New Materials Group Co. Ltd. Class A | 6,100 | 38 | ||||
Black Peony Group Co. Ltd. Class A | 19,800 | 38 | ||||
Bafang Electric Suzhou Co. Ltd. Class A | 1,200 | 38 | ||||
Hubei Feilihua Quartz Glass Co. Ltd. Class A | 4,200 | 38 | ||||
Shanghai Wanye Enterprises Co. Ltd. Class A | 9,200 | 38 | ||||
Nantong Jianghai Capacitor Co. Ltd. Class A | 9,500 | 38 | ||||
* | CanSino Biologics Inc. Class A | 948 | 38 | |||
Beijing Shiji Information Technology Co. Ltd. Class A | 9,600 | 37 | ||||
Jiangsu Guotai International Group Co. Ltd. | 19,400 | 37 | ||||
Central China Securities Co. Ltd. Class A | 48,600 | 37 | ||||
*,2 | Meitu Inc. | 226,500 | 37 | |||
Beijing Bei Mo Gao Ke Friction Material Co. Ltd. Class A | 2,700 | 37 | ||||
Shenzhen Topband Co. Ltd. Class A | 17,100 | 37 | ||||
Hangzhou Chang Chuan Technology Co. Ltd. Class A | 5,300 | 37 | ||||
Shenzhen Investment Ltd. | 158,000 | 36 | ||||
TCL Technology Group Corp. Class A | 41,200 | 36 | ||||
Shenzhen Senior Technology Material Co. Ltd. Class A | 6,000 | 36 | ||||
Ningbo Orient Wires & Cables Co. Ltd. Class A | 3,800 | 36 | ||||
* | Comba Telecom Systems Holdings Ltd. | 144,000 | 35 | |||
China BlueChemical Ltd. Class H | 116,000 | 35 | ||||
Gemdale Properties & Investment Corp. Ltd. | 314,000 | 35 | ||||
Zhejiang NHU Co. Ltd. Class A | 6,480 | 35 |
Shares | Market Value• ($000) | |||||
Changjiang Securities Co. Ltd. Class A | 31,900 | 35 | ||||
2 | CSC Financial Co. Ltd. Class H | 33,000 | 35 | |||
Foran Energy Group Co. Ltd. | 20,600 | 35 | ||||
New China Life Insurance Co. Ltd. Class A | 5,700 | 35 | ||||
Chongqing Dima Industry Co. Ltd. Class A | 90,000 | 35 | ||||
ZheJiang Dali Technology Co. Ltd. Class A | 14,400 | 35 | ||||
China Everbright Bank Co. Ltd. Class H | 91,000 | 34 | ||||
Sinopec Engineering Group Co. Ltd. Class H | 72,000 | 34 | ||||
Western Securities Co. Ltd. Class A | 27,900 | 34 | ||||
Changzhou Xingyu Automotive Lighting Systems Co. Ltd. Class A | 1,400 | 34 | ||||
Zhejiang Xinan Chemical Industrial Group Co. Ltd. Class A | 7,900 | 34 | ||||
*,2 | Koolearn Technology Holding Ltd. | 53,500 | 34 | |||
Tofflon Science & Technology Group Co. Ltd. Class A | 4,500 | 34 | ||||
Chengdu Leejun Industrial Co. Ltd. Class A | 21,800 | 34 | ||||
* | Burning Rock Biotech Ltd. ADR | 4,069 | 34 | |||
Guangdong Provincial Expressway Development Co. Ltd. Class B | 44,700 | 33 | ||||
GEM Co. Ltd. Class A | 21,700 | 33 | ||||
Zhende Medical Co. Ltd. Class A | 5,200 | 33 | ||||
Hangcha Group Co. Ltd. Class A | 12,600 | 33 | ||||
Inner Mongolia ERDOS Resources Co. Ltd. Class A | 7,900 | 33 | ||||
Lonking Holdings Ltd. | 121,000 | 32 | ||||
Jiangsu Yoke Technology Co. Ltd. Class A | 3,200 | 32 | ||||
Zhejiang Weiming Environment Protection Co. Ltd. Class A | 5,890 | 32 | ||||
China Lilang Ltd. | 55,000 | 31 | ||||
Shenzhen Overseas Chinese Town Co. Ltd. Class A | 28,200 | 31 | ||||
* | Guangshen Railway Co. Ltd. Class A | 83,800 | 31 |
Shares | Market Value• ($000) | |||||
2 | Genertec Universal Medical Group Co. Ltd. | 43,500 | 31 | |||
CNHTC Jinan Truck Co. Ltd. Class A | 14,420 | 31 | ||||
* | China Aluminum International Engineering Corp. Ltd. Class A | 33,900 | 31 | |||
Skshu Paint Co. Ltd. Class A | 2,180 | 31 | ||||
Yuexiu Transport Infrastructure Ltd. | 48,000 | 30 | ||||
Shanghai Jinjiang International Hotels Co. Ltd. Class B | 14,600 | 30 | ||||
* | Hi Sun Technology China Ltd. | 240,000 | 30 | |||
LB Group Co. Ltd. Class A | 7,200 | 30 | ||||
Beijing Strong Biotechnologies Inc. Class A | 9,900 | 30 | ||||
Beijing Easpring Material Technology Co. Ltd. Class A | 2,200 | 30 | ||||
China Reinsurance Group Corp. Class H | 315,000 | 30 | ||||
Guangxi Liugong Machinery Co. Ltd. Class A | 25,800 | 30 | ||||
Taiji Computer Corp. Ltd. Class A | 7,400 | 30 | ||||
Titan Wind Energy Suzhou Co. Ltd. Class A | 9,200 | 30 | ||||
Shenzhen Megmeet Electrical Co. Ltd. Class A | 7,200 | 30 | ||||
Gaona Aero Material Co. Ltd. Class A | 4,300 | 30 | ||||
Chongqing Changan Automobile Co. Ltd. Class B | 62,440 | 29 | ||||
China Overseas Grand Oceans Group Ltd. | 51,000 | 29 | ||||
*,1 | China Zhongwang Holdings Ltd. | 133,200 | 29 | |||
Guomai Technologies Inc. Class A | 27,000 | 29 | ||||
China Jushi Co. Ltd. Class A | 10,744 | 29 | ||||
Qingdao Haier Biomedical Co. Ltd. Class A | 2,543 | 29 | ||||
Qingling Motors Co. Ltd. Class H | 144,000 | 28 | ||||
Shanghai Chlor-Alkali Chemical Co. Ltd. Class B | 43,700 | 28 |
Shares | Market Value• ($000) | |||||
Shanghai Ganglian E-Commerce Holdings Co. Ltd. Class A | 4,200 | 28 | ||||
Sunward Intelligent Equipment Co. Ltd. Class A | 20,700 | 28 | ||||
Wisdom Education International Holdings Co. Ltd. | 510,000 | 28 | ||||
Industrial Securities Co. Ltd. Class A | 21,600 | 28 | ||||
Q Technology Group Co. Ltd. | 30,000 | 28 | ||||
JNBY Design Ltd. | 20,500 | 28 | ||||
Shenzhen Everwin Precision Technology Co. Ltd. Class A | 14,200 | 28 | ||||
* | LVGEM China Real Estate Investment Co. Ltd. | 164,000 | 28 | |||
Infore Environment Technology Group Co. Ltd. Class A | 29,500 | 28 | ||||
Jiangsu Lihua Animal Husbandry Stock Co. Ltd. Class A | 5,100 | 28 | ||||
Shanghai Hanbell Precise Machinery Co. Ltd. Class A | 7,600 | 28 | ||||
Goke Microelectronics Co. Ltd. Class A | 1,700 | 28 | ||||
Shanghai Industrial Urban Development Group Ltd. | 282,000 | 27 | ||||
Sealand Securities Co. Ltd. Class A | 44,000 | 27 | ||||
* | Hongli Zhihui Group Co. Ltd. Class A | 14,300 | 27 | |||
Nanjing Iron & Steel Co. Ltd. Class A | 44,500 | 27 | ||||
Advanced Technology & Materials Co. Ltd. Class A | 18,300 | 27 | ||||
Telling Telecommunication Holding Co. Ltd. Class A | 10,900 | 27 | ||||
Shenzhen Yinghe Technology Co. Ltd. Class A | 6,200 | 27 | ||||
PharmaBlock Sciences Nanjing Inc. Class A | 1,800 | 27 | ||||
Yusys Technologies Co. Ltd. Class A | 7,680 | 27 | ||||
* | Youdao Inc. ADR | 2,253 | 27 | |||
2 | Archosaur Games Inc. | 26,000 | 27 | |||
Shenzhen Expressway Corp. Ltd. Class H | 26,000 | 26 | ||||
* | Sinofert Holdings Ltd. | 180,000 | 26 | |||
Dongjiang Environmental Co. Ltd. Class A | 21,700 | 26 |
Shares | Market Value• ($000) | |||||
Hainan Strait Shipping Co. Ltd. Class A | 27,750 | 26 | ||||
Xinyu Iron & Steel Co. Ltd. Class A | 27,300 | 26 | ||||
Zhejiang Communications Technology Co. Ltd. | 26,400 | 26 | ||||
China Kepei Education Group Ltd. | 88,000 | 26 | ||||
* | SOHO China Ltd. | 121,000 | 25 | |||
INESA Intelligent Tech Inc. Class B | 50,600 | 25 | ||||
Zhejiang Jiemei Electronic & Technology Co. Ltd. Class A | 5,000 | 25 | ||||
* | China Merchants Land Ltd. | 254,000 | 25 | |||
Anhui Construction Engineering Group Co. Ltd. Class A | 35,000 | 25 | ||||
Shenzhen Sunline Tech Co. Ltd. Class A | 10,300 | 25 | ||||
Chengdu Fusen Noble-House Industrial Co. Ltd. Class A | 12,900 | 25 | ||||
*,2 | CStone Pharmaceuticals | 30,000 | 25 | |||
State Grid Information & Communication Co. Ltd. | 8,100 | 25 | ||||
* | Jiangsu Hoperun Software Co. Ltd. Class A | 7,600 | 24 | |||
Shanghai Environment Group Co. Ltd. Class A | 12,500 | 24 | ||||
Xinjiang Communications Construction Group Co. Ltd. Class A | 10,400 | 24 | ||||
Riyue Heavy Industry Co. Ltd. Class A | 5,400 | 24 | ||||
* | Beijing Chunlizhengda Medical Instruments Co. Ltd. Class H | 17,500 | 24 | |||
CETC Digital Technology Co. Ltd. Class A | 4,800 | 24 | ||||
Fujian Cement Inc. Class A | 19,900 | 24 | ||||
Shenzhen Changhong Technology Co. Ltd. Class A | 5,000 | 24 | ||||
* | Pacific Shuanglin Bio-pharmacy Co. Ltd. | 5,300 | 24 | |||
* | Hainan Development Holdings Nanhai Co. Ltd. Class A | 13,500 | 24 | |||
Edan Instruments Inc. Class A | 13,000 | 24 | ||||
First Tractor Co. Ltd. Class H | 48,000 | 23 | ||||
China Dongxiang Group Co. Ltd. | 308,000 | 23 |
Shares | Market Value• ($000) | |||||
West China Cement Ltd. | 132,000 | 23 | ||||
Hunan Valin Steel Co. Ltd. Class A | 25,300 | 23 | ||||
Zhenro Properties Group Ltd. | 272,000 | 23 | ||||
2 | Qingdao Port International Co. Ltd. Class H | 43,000 | 23 | |||
Shanghai International Port Group Co. Ltd. Class A | 24,900 | 23 | ||||
* | Kunshan Kersen Science & Technology Co. Ltd. Class A | 15,000 | 23 | |||
Guizhou Gas Group Corp. Ltd. Class A | 15,300 | 23 | ||||
Sanquan Food Co. Ltd. Class A | 9,630 | 23 | ||||
Yantai Zhenghai Magnetic Material Co. Ltd. Class A | 8,500 | 23 | ||||
Jiangsu Nata Opto-electronic Material Co. Ltd. Class A | 3,200 | 23 | ||||
Shanghai Haohai Biological Technology Co. Ltd. Class A | 1,374 | 23 | ||||
Shanghai Kelai Mechatronics Engineering Co. Ltd. Class A | 5,800 | 23 | ||||
* | China Southern Airlines Co. Ltd. Class H | 34,000 | 22 | |||
* | China Eastern Airlines Corp. Ltd. Class H | 56,000 | 22 | |||
China International Marine Containers Group Co. Ltd. Class H | 13,300 | 22 | ||||
Shengyi Technology Co. Ltd. Class A | 7,200 | 22 | ||||
* | Red Star Macalline Group Corp. Ltd. Class A | 16,280 | 22 | |||
Jiangsu Provincial Agricultural Reclamation & Development Corp. | 11,400 | 22 | ||||
Anhui Genuine New Materials Co. Ltd. Class A | 6,200 | 22 | ||||
* | China Fangda Group Co. Ltd. Class B | 71,800 | 21 | |||
Sieyuan Electric Co. Ltd. Class A | 2,800 | 21 | ||||
Chengdu Xingrong Environment Co. Ltd. Class A | 22,200 | 21 | ||||
Sichuan Hexie Shuangma Co. Ltd. Class A | 6,000 | 21 | ||||
BBMG Corp. Class A | 45,100 | 21 |
Shares | Market Value• ($000) | |||||
Hunan Aihua Group Co. Ltd. Class A | 3,800 | 21 | ||||
Sinocare Inc. Class A | 5,700 | 21 | ||||
Beijing Aosaikang Pharmaceutical Co. Ltd. Class A | 11,600 | 21 | ||||
CTS International Logistics Corp. Ltd. Class A | 10,800 | 21 | ||||
Fibocom Wireless Inc. Class A | 2,900 | 21 | ||||
Nanjing Yunhai Special Metals Co. Ltd. Class A | 5,300 | 21 | ||||
China Railway Signal & Communication Corp. Ltd. Class A | 27,659 | 21 | ||||
* | Beijing Bohui Innovation Biotechnology Group Co. Ltd. Class A | 16,700 | 21 | |||
* | Vnet Group Inc. ADR | 2,481 | 20 | |||
China Shineway Pharmaceutical Group Ltd. | 24,000 | 20 | ||||
JSTI Group Class A | 18,000 | 20 | ||||
PCI Technology Group Co. Ltd. Class A | 14,900 | 20 | ||||
Wuhan Raycus Fiber Laser Technologies Co. Ltd. Class A | 2,550 | 20 | ||||
Beijing Tiantan Biological Products Corp. Ltd. Class A | 4,580 | 20 | ||||
2 | China Railway Signal & Communication Corp. Ltd. Class H | 55,000 | 20 | |||
CITIC Press Corp. Class A | 4,700 | 20 | ||||
Shandong Longda Meishi Co. Ltd. Class A | 14,700 | 20 | ||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A | 9,000 | 19 | ||||
Hangxiao Steel Structure Co. Ltd. Class A | 28,100 | 19 | ||||
* | Zhejiang Jingu Co. Ltd. Class A | 15,900 | 19 | |||
Huagong Tech Co. Ltd. Class A | 4,800 | 19 | ||||
Shenzhen Suntak Circuit Technology Co. Ltd. Class A | 7,900 | 19 | ||||
Haohua Chemical Science & Technology Co. Ltd. | 3,000 | 19 | ||||
Apeloa Pharmaceutical Co. Ltd. Class A | 4,000 | 18 | ||||
* | Jilin Electric Power Co. Ltd. Class A | 12,600 | 18 | |||
Wuhu Token Science Co. Ltd. Class A | 11,500 | 18 |
Shares | Market Value• ($000) | |||||
Suzhou Anjie Technology Co. Ltd. Class A | 8,300 | 18 | ||||
Zhejiang Dingli Machinery Co. Ltd. Class A | 2,000 | 18 | ||||
Proya Cosmetics Co. Ltd. Class A | 600 | 18 | ||||
China Express Airlines Co. Ltd. Class A | 9,600 | 18 | ||||
Zhejiang Cfmoto Power Co. Ltd. Class A | 900 | 18 | ||||
Xiamen Jihong Technology Co. Ltd. Class A | 7,400 | 18 | ||||
Yihai Kerry Arawana Holdings Co. Ltd. Class A | 2,100 | 18 | ||||
Jiangsu Expressway Co. Ltd. Class H | 16,000 | 17 | ||||
Sino-Ocean Group Holding Ltd. | 78,000 | 17 | ||||
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class B | 18,800 | 17 | ||||
Beijing E-Hualu Information Technology Co. Ltd. Class A | 3,900 | 17 | ||||
Shanghai Jahwa United Co. Ltd. Class A | 2,700 | 17 | ||||
Hongfa Technology Co. Ltd. Class A | 1,700 | 17 | ||||
Laobaixing Pharmacy Chain JSC Class A | 2,560 | 17 | ||||
Biem.L.Fdlkk Garment Co. Ltd. Class A | 4,100 | 17 | ||||
Canny Elevator Co. Ltd. Class A | 14,400 | 17 | ||||
Guangdong Aofei Data Technology Co. Ltd. Class A | 3,800 | 17 | ||||
Kangji Medical Holdings Ltd. | 16,500 | 17 | ||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class H | 6,000 | 16 | ||||
* | TCL Electronics Holdings Ltd. | 35,000 | 16 | |||
Xinhua Winshare Publishing & Media Co. Ltd. Class H | 22,000 | 16 | ||||
DHC Software Co. Ltd. Class A | 12,000 | 16 | ||||
Shenzhen Ysstech Info-tech Co. Ltd. Class A | 7,600 | 16 | ||||
Guangzhou Shiyuan Electronic Technology Co. Ltd. Class A | 1,200 | 16 |
Shares | Market Value• ($000) | |||||
Gemdale Corp. Class A | 8,100 | 16 | ||||
China National Medicines Corp. Ltd. Class A | 3,700 | 16 | ||||
* | Sichuan Haite High-tech Co. Ltd. Class A | 7,900 | 16 | |||
Sai Micro Electronics Inc. Class A | 4,500 | 16 | ||||
Tibet Tianlu Co. Ltd. Class A | 15,900 | 16 | ||||
Hangzhou Dptech Technologies Co. Ltd. Class A | 2,900 | 16 | ||||
Zhejiang Jiecang Linear Motion Technology Co. Ltd. Class A | 2,700 | 16 | ||||
Zhuhai Bojay Electronics Co. Ltd. Class A | 1,800 | 16 | ||||
Era Co. Ltd. Class A | 18,600 | 16 | ||||
Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd. Class B | 16,700 | 15 | ||||
Shenzhen Agricultural Products Group Co. Ltd. Class A | 16,100 | 15 | ||||
IKD Co. Ltd. Class A | 5,700 | 15 | ||||
Guangzhou Shangpin Home Collection Co. Ltd. Class A | 2,600 | 15 | ||||
Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd. Class A | 2,100 | 15 | ||||
Sinolink Securities Co. Ltd. Class A | 9,500 | 15 | ||||
* | Chongqing Iron & Steel Co. Ltd. Class A | 44,000 | 15 | |||
Shanghai Dazhong Public Utilities Group Co. Ltd. Class A | 25,900 | 15 | ||||
Hengdian Group DMEGC Magnetics Co. Ltd. Class A | 5,700 | 15 | ||||
Weihai Guangwei Composites Co. Ltd. Class A | 1,300 | 15 | ||||
Sino-Platinum Metals Co. Ltd. Class A | 3,510 | 15 | ||||
Beijing GeoEnviron Engineering & Technology Inc. Class A | 5,500 | 15 | ||||
Shenzhen Woer Heat-Shrinkable Material Co. Ltd. Class A | 12,800 | 15 | ||||
Zhejiang Tianyu Pharmaceutical Co. Ltd. Class A | 2,160 | 15 | ||||
Longhua Technology Group Luoyang Co. Ltd. Class A | 10,000 | 15 |
Shares | Market Value• ($000) | |||||
Guosen Securities Co. Ltd. Class A | 8,300 | 14 | ||||
Health & Happiness H&H International Holdings Ltd. | 9,000 | 14 | ||||
Qingdao Port International Co. Ltd. Class A | 15,500 | 14 | ||||
Chongqing Water Group Co. Ltd. Class A | 14,300 | 14 | ||||
Yonghui Superstores Co. Ltd. Class A | 24,400 | 14 | ||||
Han's Laser Technology Industry Group Co. Ltd. Class A | 1,800 | 14 | ||||
Goldenmax International Technology Ltd. Class A | 7,000 | 14 | ||||
Jiangsu Shuangxing Color Plastic New Materials Co. Ltd. Class A | 3,700 | 14 | ||||
Quectel Wireless Solutions Co. Ltd. Class A | 478 | 14 | ||||
Gansu Shangfeng Cement Co. Ltd. Class A | 4,100 | 14 | ||||
Anhui Truchum Advanced Materials & Technology Co. Ltd. Class A | 7,900 | 14 | ||||
Xiamen Xiangyu Co. Ltd. Class A | 11,000 | 14 | ||||
Yankershop Food Co. Ltd. Class A | 1,300 | 14 | ||||
Guangdong Topstar Technology Co. Ltd. Class A | 6,400 | 14 | ||||
* | Shanghai Junshi Biosciences Co. Ltd. Class A | 1,228 | 14 | |||
Angang Steel Co. Ltd. Class H | 26,000 | 13 | ||||
Shimao Group Holdings Ltd. | 22,000 | 13 | ||||
Sunac China Holdings Ltd. | 16,000 | 13 | ||||
Daan Gene Co. Ltd. Class A | 4,500 | 13 | ||||
Bluefocus Intelligent Communications Group Co. Ltd. Class A | 10,600 | 13 | ||||
* | Shandong Yisheng Livestock & Poultry Breeding Co. Ltd. Class A | 8,700 | 13 | |||
Anhui Jinhe Industrial Co. Ltd. Class A | 2,000 | 13 | ||||
* | Shenzhen SDG Information Co. Ltd. Class A | 13,600 | 13 |
Shares | Market Value• ($000) | |||||
Konfoong Materials International Co. Ltd. Class A | 1,300 | 13 | ||||
* | Sonoscape Medical Corp. Class A | 2,700 | 13 | |||
Chongqing Rural Commercial Bank Co. Ltd. Class A | 20,400 | 13 | ||||
Tianshan Aluminum Group Co. Ltd. Class A | 8,300 | 13 | ||||
Hangzhou Electronic Soul Network Technology Co. Ltd. Class A | 3,100 | 13 | ||||
Ningbo Huaxiang Electronic Co. Ltd. Class A | 4,200 | 12 | ||||
WUS Printed Circuit Kunshan Co. Ltd. Class A | 4,340 | 12 | ||||
Rongsheng Petrochemical Co. Ltd. Class A | 3,900 | 12 | ||||
Beijing Dabeinong Technology Group Co. Ltd. Class A | 8,900 | 12 | ||||
* | Oceanwide Holdings Co. Ltd. Class A | 40,600 | 12 | |||
Rainbow Digital Commercial Co. Ltd. Class A | 11,200 | 12 | ||||
FAWER Automotive Parts Co. Ltd. Class A | 12,500 | 12 | ||||
Greenland Hong Kong Holdings Ltd. | 70,000 | 12 | ||||
Hainan Poly Pharm Co. Ltd. Class A | 1,600 | 12 | ||||
2 | Shanghai Haohai Biological Technology Co. Ltd. Class H | 2,200 | 12 | |||
* | Zhuhai Orbita Aerospace Science & Technology Co. Ltd. Class A | 7,400 | 12 | |||
Zhejiang Garden Bio-Chemical High-tech Co. Ltd. Class A | 5,500 | 12 | ||||
YanTai Shuangta Food Co. Ltd. Class A | 8,100 | 12 | ||||
* | China CAMC Engineering Co. Ltd. Class A | 10,100 | 12 | |||
Beijing Tongtech Co. Ltd. Class A | 2,720 | 12 | ||||
COFCO Biotechnology Co. Ltd. Class A | 7,000 | 12 | ||||
Sinofibers Technology Co. Ltd. Class A | 1,400 | 12 | ||||
Beijing Ctrowell Technology Corp. Ltd. Class A | 6,600 | 12 |
Shares | Market Value• ($000) | |||||
Hwa Create Co. Ltd. Class A | 8,100 | 12 | ||||
Eastern Communications Co. Ltd. Class B | 24,000 | 11 | ||||
* | Tongda Group Holdings Ltd. | 540,000 | 11 | |||
China South City Holdings Ltd. | 134,000 | 11 | ||||
Hand Enterprise Solutions Co. Ltd. Class A | 8,300 | 11 | ||||
Inspur Electronic Information Industry Co. Ltd. Class A | 2,100 | 11 | ||||
* | CITIC Guoan Information Industry Co. Ltd. Class A | 28,700 | 11 | |||
* | Huafon Microfibre Shanghai Technology Co. Ltd. | 12,400 | 11 | |||
Heilongjiang Agriculture Co. Ltd. Class A | 4,800 | 11 | ||||
Jointown Pharmaceutical Group Co. Ltd. Class A | 5,000 | 11 | ||||
Joincare Pharmaceutical Group Industry Co. Ltd. Class A | 5,900 | 11 | ||||
Hexing Electrical Co. Ltd. Class A | 5,300 | 11 | ||||
Seazen Holdings Co. Ltd. Class A | 2,300 | 11 | ||||
Xinhua Winshare Publishing & Media Co. Ltd. Class A | 7,700 | 11 | ||||
* | Guangdong Dongfang Precision Science & Technology Co. Ltd. Class A | 13,700 | 11 | |||
Guangxi Wuzhou Zhongheng Group Co. Ltd. Class A | 21,800 | 11 | ||||
Mayinglong Pharmaceutical Group Co. Ltd. Class A | 3,000 | 11 | ||||
Xinhuanet Co. Ltd. Class A | 3,600 | 11 | ||||
Shanghai Pret Composites Co. Ltd. Class A | 4,800 | 11 | ||||
Milkyway Chemical Supply Chain Service Co. Ltd. Class A | 500 | 11 | ||||
Keshun Waterproof Technologies Co. Ltd. Class A | 4,860 | 11 | ||||
Lushang Health Industry Development Co. Ltd. Class A | 5,800 | 11 |
Shares | Market Value• ($000) | |||||
Shenzhen Comix Group Co. Ltd. Class A | 10,300 | 11 | ||||
Xianhe Co. Ltd. Class A | 2,100 | 11 | ||||
Poly Property Group Co. Ltd. | 37,000 | 10 | ||||
* | Chengzhi Co. Ltd. Class A | 4,900 | 10 | |||
Qingdao Eastsoft Communication Technology Co. Ltd. Class A | 4,000 | 10 | ||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class A | 2,100 | 10 | ||||
Yifan Pharmaceutical Co. Ltd. Class A | 3,800 | 10 | ||||
GRG Banking Equipment Co. Ltd. Class A | 5,300 | 10 | ||||
Xinjiang Tianshan Cement Co. Ltd. Class A | 4,500 | 10 | ||||
Xiamen Kingdomway Group Co. Class A | 2,400 | 10 | ||||
Shenzhen FRD Science & Technology Co. Ltd. | 3,300 | 10 | ||||
Jiaozuo Wanfang Aluminum Manufacturing Co. Ltd. Class A | 8,200 | 10 | ||||
Lancy Co. Ltd. Class A | 2,300 | 10 | ||||
China Risun Group Ltd. | 16,000 | 10 | ||||
Unisplendour Corp. Ltd. Class A | 2,660 | 9 | ||||
Shandong Sun Paper Industry JSC Ltd. Class A | 4,800 | 9 | ||||
Central China Securities Co. Ltd. Class H | 48,000 | 9 | ||||
Accelink Technologies Co. Ltd. Class A | 2,600 | 9 | ||||
Beijing VRV Software Corp. Ltd. Class A | 10,400 | 9 | ||||
Yunnan Copper Co. Ltd. Class A | 4,300 | 9 | ||||
Jiangxi Wannianqing Cement Co. Ltd. Class A | 4,200 | 9 | ||||
Shanghai Runda Medical Technology Co. Ltd. Class A | 4,900 | 9 | ||||
Client Service International Inc. Class A | 2,850 | 9 | ||||
Shanghai Shibei Hi-Tech Co. Ltd. Class B | 29,400 | 8 | ||||
* | Tus Environmental Science & Technology Development Co. Ltd. Class A | 10,800 | 8 |
Shares | Market Value• ($000) | |||||
Suzhou Gold Mantis Construction Decoration Co. Ltd. Class A | 9,000 | 8 | ||||
Beijing Originwater Technology Co. Ltd. Class A | 7,200 | 8 | ||||
* | STO Express Co. Ltd. Class A | 6,300 | 8 | |||
Zhejiang Meida Industrial Co. Ltd. Class A | 3,300 | 8 | ||||
Liuzhou Iron & Steel Co. Ltd. Class A | 9,700 | 8 | ||||
SooChow Securities Co. Ltd. Class A | 6,240 | 8 | ||||
Fiberhome Telecommunication Technologies Co. Ltd. Class A | 3,100 | 8 | ||||
* | Luoniushan Co. Ltd. Class A | 7,800 | 8 | |||
Jiangsu Nhwa Pharmaceutical Co. Ltd. Class A | 3,800 | 8 | ||||
Universal Scientific Industrial Shanghai Co. Ltd. Class A | 3,800 | 8 | ||||
Amoy Diagnostics Co. Ltd. Class A | 900 | 8 | ||||
China Publishing & Media Co. Ltd. Class A | 9,700 | 8 | ||||
* | YaGuang Technology Group Co. Ltd. | 6,400 | 8 | |||
Wuxi Boton Technology Co. Ltd. Class A | 2,600 | 8 | ||||
Tibet Rhodiola Pharmaceutical Holding Co. Class A | 1,200 | 8 | ||||
* | Autohome Inc. ADR | 241 | 7 | |||
Beijing North Star Co. Ltd. Class H | 44,000 | 7 | ||||
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. Ltd. Class H | 14,000 | 7 | ||||
Yunda Holding Co. Ltd. Class A | 2,400 | 7 | ||||
BGI Genomics Co. Ltd. Class A | 500 | 7 | ||||
Shenzhen Kaifa Technology Co. Ltd. Class A | 3,300 | 7 | ||||
Maccura Biotechnology Co. Ltd. Class A | 1,500 | 7 | ||||
Tianfeng Securities Co. Ltd. Class A | 12,400 | 7 | ||||
Gansu Qilianshan Cement Group Co. Ltd. Class A | 4,300 | 7 |
Shares | Market Value• ($000) | |||||
Humanwell Healthcare Group Co. Ltd. Class A | 2,400 | 7 | ||||
Logan Group Co. Ltd. | 19,000 | 6 | ||||
* | OFILM Group Co. Ltd. Class A | 4,800 | 6 | |||
Huabao Flavours & Fragrances Co. Ltd. Class A | 1,200 | 6 | ||||
Lianhe Chemical Technology Co. Ltd. Class A | 2,200 | 6 | ||||
*,2 | Ping An Healthcare & Technology Co. Ltd. | 1,630 | 5 | |||
* | Beijing Watertek Information Technology Co. Ltd. Class A | 9,800 | 5 | |||
* | Guangzhou GRG Metrology & Test Co. Ltd. Class A | 1,500 | 5 | |||
* | Berry Genomics Co. Ltd. Class A | 1,500 | 4 | |||
* | GDS Holdings Ltd. Class A | 709 | 4 | |||
*,1 | Jinmao Property Services Co. Ltd. | 10,091 | 3 | |||
304,387 | ||||||
Colombia (0.1%) | ||||||
Bancolombia SA Preference Shares | 55,630 | 492 | ||||
Bancolombia SA | 30,195 | 300 | ||||
Interconexion Electrica SA ESP | 38,462 | 237 | ||||
* | Banco Davivienda SA Preference Shares | 19,293 | 157 | |||
Grupo de Inversiones Suramericana SA | 17,507 | 142 | ||||
Grupo Aval Acciones y Valores SA Preference Shares | 361,564 | 97 | ||||
Grupo de Inversiones Suramericana SA Preference Shares | 7,835 | 46 | ||||
1,471 | ||||||
Czech Republic (0.0%) | ||||||
Komercni Banka A/S | 28,208 | 1,110 | ||||
Denmark (1.7%) | ||||||
Novo Nordisk A/S Class B | 230,224 | 23,824 | ||||
DSV A/S | 30,198 | 5,558 | ||||
Vestas Wind Systems A/S | 149,931 | 4,835 | ||||
* | Genmab A/S | 9,865 | 3,316 | |||
Coloplast A/S Class B | 20,717 | 3,117 | ||||
Novozymes A/S Class B | 34,873 | 2,289 | ||||
Pandora A/S | 16,847 | 1,725 | ||||
GN Store Nord A/S | 25,062 | 1,325 | ||||
Chr Hansen Holding A/S | 18,012 | 1,313 | ||||
* | Demant A/S | 16,180 | 684 |
Shares | Market Value• ($000) | |||||
Ringkjoebing Landbobank A/S | 4,845 | 602 | ||||
* | ISS A/S | 31,855 | 581 | |||
Tryg A/S | 23,000 | 520 | ||||
Ambu A/S Class B | 27,605 | 509 | ||||
SimCorp A/S | 4,447 | 402 | ||||
Sydbank A/S | 10,371 | 337 | ||||
2 | Netcompany Group A/S | 4,607 | 304 | |||
* | Bavarian Nordic A/S | 10,058 | 253 | |||
* | ALK-Abello A/S Class B | 456 | 175 | |||
Chemometec A/S | 1,221 | 143 | ||||
* | Jyske Bank A/S (Registered) | 2,593 | 141 | |||
Topdanmark A/S | 2,274 | 130 | ||||
ROCKWOOL International A/S Class B | 341 | 117 | ||||
D/S Norden A/S | 4,209 | 110 | ||||
* | NKT A/S | 2,460 | 103 | |||
Alm Brand A/S | 49,798 | 81 | ||||
* | Nilfisk Holding A/S | 1,682 | 56 | |||
* | NTG Nordic Transport Group A/S | 833 | 52 | |||
H Lundbeck A/S | 1,927 | 47 | ||||
Spar Nord Bank A/S | 3,305 | 44 | ||||
* | Zealand Pharma A/S | 2,365 | 36 | |||
Schouw & Co. A/S | 372 | 32 | ||||
52,761 | ||||||
Egypt (0.0%) | ||||||
* | Commercial International Bank Egypt SAE | 207,915 | 633 | |||
* | Egyptian Financial Group-Hermes Holding Co. | 149,649 | 165 | |||
Telecom Egypt Co. | 67,366 | 76 | ||||
Palm Hills Developments SAE | 647,185 | 62 | ||||
* | Pioneers Properties | 466,099 | 55 | |||
* | Gadwa for Industrial Development | 1,120,697 | 51 | |||
Six of October Development & Investment | 53,838 | 45 | ||||
Medinet Nasr Housing | 314,259 | 39 | ||||
Oriental Weavers | 46,027 | 24 | ||||
* | Aspire Capital Holding for Financial Investments | 1,179,211 | 20 | |||
* | Medinet Nasr Housing Rights Exp. 3/16/22 | 78,564 | 4 | |||
1,174 | ||||||
Finland (0.9%) | ||||||
Nordea Bank Abp | 527,357 | 5,821 | ||||
* | Nokia OYJ | 841,127 | 4,548 | |||
Kone OYJ Class B | 58,513 | 3,415 | ||||
Sampo OYJ Class A | 70,983 | 3,349 | ||||
Stora Enso OYJ | 117,184 | 2,232 |
Shares | Market Value• ($000) | |||||
Elisa OYJ | 30,634 | 1,697 | ||||
Kesko OYJ Class B | 55,228 | 1,625 | ||||
Wartsila OYJ Abp | 94,915 | 1,063 | ||||
Valmet OYJ | 18,164 | 630 | ||||
Nokian Renkaat OYJ | 33,205 | 626 | ||||
* | QT Group OYJ | 2,636 | 324 | |||
Orion OYJ Class B | 6,645 | 312 | ||||
TietoEVRY OYJ | 10,513 | 293 | ||||
Kojamo OYJ | 12,480 | 289 | ||||
Huhtamaki OYJ | 5,233 | 191 | ||||
Cargotec OYJ Class B | 3,317 | 131 | ||||
Uponor OYJ | 5,272 | 117 | ||||
F-Secure OYJ | 15,991 | 93 | ||||
Revenio Group OYJ | 1,565 | 76 | ||||
Metsa Board OYJ Class B | 7,101 | 69 | ||||
Sanoma OYJ | 3,043 | 44 | ||||
Kemira OYJ | 2,307 | 31 | ||||
* | Finnair OYJ | 62,177 | 31 | |||
*,1 | Ahlstrom-Munksjo OYJ | 884 | 18 | |||
YIT OYJ | 3,951 | 17 | ||||
Raisio OYJ | 4,240 | 14 | ||||
Oriola OYJ Class B | 4,424 | 10 | ||||
27,066 | ||||||
France (4.1%) | ||||||
Sanofi | 149,173 | 15,593 | ||||
BNP Paribas SA | 154,661 | 8,974 | ||||
EssilorLuxottica SA | 41,978 | 7,328 | ||||
Kering SA | 10,469 | 7,262 | ||||
AXA SA | 252,801 | 6,840 | ||||
Hermes International | 4,211 | 5,807 | ||||
* | L'Oreal SA | 12,394 | 4,900 | |||
L'Oreal SA | 12,253 | 4,844 | ||||
STMicroelectronics NV | 96,617 | 4,056 | ||||
Legrand SA | 42,194 | 3,981 | ||||
Cie Generale des Etablissements Michelin SCA | 26,329 | 3,624 | ||||
Veolia Environnement SA | 101,779 | 3,549 | ||||
Teleperformance | 9,211 | 3,418 | ||||
* | L'Oreal SA (Registered) | 8,400 | 3,321 | |||
Societe Generale SA | 112,036 | 3,168 | ||||
3 | Orange SA | 247,548 | 2,993 | |||
Publicis Groupe SA | 38,221 | 2,537 | ||||
Carrefour SA | 106,584 | 2,143 | ||||
Edenred | 45,904 | 2,089 | ||||
Arkema SA | 14,099 | 1,870 | ||||
*,2 | Worldline SA | 35,472 | 1,809 | |||
Getlink SE | 110,697 | 1,805 | ||||
Eurofins Scientific SE | 17,387 | 1,764 | ||||
Vivendi SE | 113,849 | 1,437 | ||||
2 | Euronext NV | 15,154 | 1,368 | |||
Gecina SA | 10,474 | 1,331 | ||||
* | Rexel SA | 56,374 | 1,241 | |||
Sartorius Stedim Biotech | 3,225 | 1,237 | ||||
* | Klepierre SA | 38,476 | 1,100 |
Shares | Market Value• ($000) | |||||
SCOR SE | 31,975 | 1,041 | ||||
Alstom SA | 40,671 | 1,035 | ||||
Valeo | 46,460 | 1,025 | ||||
Wendel SE | 9,535 | 968 | ||||
* | Renault SA | 29,187 | 915 | |||
Sodexo SA | 10,944 | 914 | ||||
Covivio | 10,249 | 838 | ||||
* | Ubisoft Entertainment SA | 15,471 | 829 | |||
Ipsen SA | 5,418 | 630 | ||||
* | Elis SA | 37,834 | 606 | |||
* | Sodexo SA | 7,056 | 589 | |||
* | Aeroports de Paris | 3,999 | 565 | |||
* | SOITEC | 3,350 | 543 | |||
Faurecia SE | 14,316 | 539 | ||||
BioMerieux | 4,510 | 496 | ||||
SES SA Class A FDR | 57,048 | 451 | ||||
Eurazeo SE | 5,174 | 400 | ||||
CNP Assurances | 14,936 | 364 | ||||
* | Eurazeo SE | 4,581 | 354 | |||
* | Eurazeo SE - French Loyalty 2023 Line | 3,775 | 292 | |||
* | Lagardere SA | 10,069 | 285 | |||
* | SEB SA | 1,874 | 273 | |||
2 | Verallia SA | 8,511 | 223 | |||
2 | Amundi SA | 3,111 | 216 | |||
Nexity SA | 5,129 | 202 | ||||
SEB SA | 1,373 | 200 | ||||
* | SEB SA - French Loyalty 2023 Line | 1,328 | 193 | |||
Coface SA | 12,613 | 168 | ||||
Rubis SCA | 5,311 | 165 | ||||
Korian SA | 7,822 | 158 | ||||
Sopra Steria Group SACA | 873 | 156 | ||||
* | Sodexo SA French Loyalty Line | 1,731 | 144 | |||
ICADE | 1,982 | 122 | ||||
* | JCDecaux SA | 4,045 | 114 | |||
Faurecia SE | 2,833 | 109 | ||||
Eutelsat Communications SA | 9,845 | 108 | ||||
Virbac SA | 243 | 99 | ||||
* | Solutions 30 SE | 10,592 | 93 | |||
Trigano SA | 470 | 81 | ||||
IPSOS | 1,643 | 78 | ||||
2 | Maisons du Monde SA | 2,904 | 64 | |||
*,3 | Air France-KLM | 13,438 | 58 | |||
Metropole Television SA | 2,704 | 54 | ||||
Cie Plastic Omnium SA | 2,567 | 54 | ||||
Fnac Darty SA | 989 | 54 | ||||
Imerys SA | 1,232 | 53 | ||||
* | Eramet SA | 398 | 52 | |||
*,2 | Neoen SA | 1,359 | 52 | |||
Rothschild & Co. | 1,266 | 49 | ||||
* | Akka Technologies | 864 | 47 | |||
2 | ALD SA | 3,352 | 47 | |||
Quadient SA | 2,243 | 41 |
Shares | Market Value• ($000) | |||||
Societe BIC SA | 755 | 40 | ||||
* | Casino Guichard Perrachon SA | 2,164 | 38 | |||
Carmila SA | 2,200 | 38 | ||||
* | Albioma SA - French Loyalty 2023 Line | 828 | 38 | |||
Interparfums SA | 506 | 37 | ||||
Television Francaise 1 | 3,516 | 35 | ||||
Mercialys SA | 3,403 | 35 | ||||
* | Beneteau SA | 1,768 | 29 | |||
*,2 | SMCP SA | 3,555 | 26 | |||
*,2 | X-Fab Silicon Foundries SE | 2,926 | 23 | |||
* | Voltalia SA (Registered) | 863 | 18 | |||
*,2 | Elior Group SA | 3,703 | 17 | |||
Albioma SA | 356 | 16 | ||||
* | Lisi SA | 498 | 15 | |||
* | ID Logistics Group | 42 | 15 | |||
Vicat SA | 393 | 14 | ||||
Jacquet Metals SACA | 618 | 13 | ||||
Pharmagest Interactive | 152 | 13 | ||||
Robertet SA | 14 | 13 | ||||
LISI | 376 | 11 | ||||
Orpea SA | 210 | 9 | ||||
Vilmorin & Cie SA | 169 | 9 | ||||
* | Tarkett SA | 445 | 8 | |||
* | Albioma Prime Fidelite | 187 | 8 | |||
* | Rallye SA | 1,426 | 5 | |||
129,118 | ||||||
Germany (4.6%) | ||||||
SAP SE | 160,444 | 18,099 | ||||
Mercedes-Benz Group AG | 120,968 | 9,450 | ||||
Bayer AG (Registered) | 144,287 | 8,334 | ||||
Deutsche Post AG (Registered) | 146,179 | 7,347 | ||||
adidas AG | 28,250 | 6,680 | ||||
Infineon Technologies AG | 189,931 | 6,427 | ||||
Vonovia SE | 111,434 | 5,915 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) | 19,951 | 5,473 | ||||
Deutsche Boerse AG | 25,357 | 4,316 | ||||
Merck KGaA | 20,451 | 4,056 | ||||
* | Deutsche Bank AG (Registered) | 307,270 | 3,793 | |||
Bayerische Motoren Werke AG Preference Shares | 37,342 | 3,020 | ||||
Symrise AG Class A | 21,495 | 2,557 | ||||
*,2 | Zalando SE | 36,116 | 2,390 | |||
Fresenius SE & Co. KGaA | 63,386 | 2,212 | ||||
Brenntag SE | 25,802 | 2,163 | ||||
Fresenius Medical Care AG & Co. KGaA | 33,527 | 2,151 |
Shares | Market Value• ($000) | |||||
2 | Siemens Healthineers AG | 32,715 | 2,099 | |||
Henkel AG & Co. KGaA | 25,987 | 1,998 | ||||
HeidelbergCement AG | 30,390 | 1,972 | ||||
Sartorius AG Preference Shares | 4,383 | 1,935 | ||||
* | Daimler Truck Holding AG | 61,312 | 1,869 | |||
* | QIAGEN NV | 36,470 | 1,832 | |||
LEG Immobilien SE | 14,235 | 1,831 | ||||
Beiersdorf AG | 17,871 | 1,812 | ||||
2 | Covestro AG | 34,138 | 1,805 | |||
Puma SE | 19,551 | 1,793 | ||||
Bayerische Motoren Werke AG | 18,507 | 1,782 | ||||
Hannover Rueck SE | 9,646 | 1,776 | ||||
GEA Group AG | 36,220 | 1,584 | ||||
* | Commerzbank AG | 186,350 | 1,557 | |||
* | Continental AG | 17,788 | 1,516 | |||
*,2 | Delivery Hero SE | 26,704 | 1,431 | |||
Siemens Energy AG | 59,009 | 1,404 | ||||
KION Group AG | 16,633 | 1,333 | ||||
* | HelloFresh SE | 24,030 | 1,311 | |||
2 | Scout24 SE | 20,383 | 1,189 | |||
Aroundtown SA | 190,176 | 1,173 | ||||
LANXESS AG | 22,454 | 1,094 | ||||
HUGO BOSS AG | 16,026 | 978 | ||||
Henkel AG & Co. KGaA Preference Shares | 12,034 | 955 | ||||
* | K+S AG (Registered) | 34,763 | 892 | |||
FUCHS PETROLUB SE | 27,380 | 855 | ||||
Freenet AG | 30,338 | 808 | ||||
ProSiebenSat.1 Media SE | 52,861 | 723 | ||||
* | Evotec SE | 24,086 | 709 | |||
Knorr-Bremse AG | 7,979 | 703 | ||||
Carl Zeiss Meditec AG | 4,185 | 657 | ||||
United Internet AG (Registered) | 18,118 | 616 | ||||
Nemetschek SE | 6,821 | 605 | ||||
Bechtle AG | 10,735 | 551 | ||||
* | Deutsche Lufthansa AG (Registered) | 53,201 | 404 | |||
*,2 | TeamViewer AG | 22,198 | 354 | |||
AIXTRON SE | 15,910 | 341 | ||||
2 | Befesa SA | 4,810 | 335 | |||
Stabilus SA | 5,198 | 305 | ||||
Encavis AG | 16,823 | 286 | ||||
Aurubis AG | 2,426 | 284 | ||||
Evonik Industries AG | 8,948 | 269 | ||||
Deutsche Wohnen SE | 6,329 | 262 | ||||
Sixt SE Preference Shares | 3,157 | 257 | ||||
Siltronic AG | 2,006 | 228 | ||||
Hella GmbH & Co. KGaA | 3,181 | 221 | ||||
* | flatexDEGIRO AG | 10,489 | 217 | |||
Rational AG | 237 | 174 | ||||
CompuGroup Medical SE & Co. KGaA | 2,961 | 166 |
Shares | Market Value• ($000) | |||||
* | Hypoport SE | 397 | 165 | |||
* | Fraport AG Frankfurt Airport Services Worldwide | 2,244 | 152 | |||
2 | ADLER Group SA | 10,725 | 151 | |||
TAG Immobilien AG | 5,599 | 144 | ||||
Aareal Bank AG | 4,623 | 141 | ||||
VERBIO Vereinigte BioEnergie AG | 1,695 | 132 | ||||
Software AG | 3,444 | 130 | ||||
3 | Varta AG | 1,212 | 122 | |||
Jungheinrich AG Preference Shares | 3,147 | 114 | ||||
CANCOM SE | 1,946 | 111 | ||||
*,2 | Auto1 Group SE | 7,541 | 109 | |||
* | Vitesco Technologies Group AG | 2,530 | 106 | |||
Gerresheimer AG | 1,351 | 97 | ||||
* | Nordex SE | 5,479 | 97 | |||
Wacker Chemie AG | 587 | 91 | ||||
Duerr AG | 2,463 | 89 | ||||
Stroeer SE & Co. KGaA | 1,124 | 85 | ||||
Dermapharm Holding SE | 1,167 | 85 | ||||
RTL Group SA | 1,505 | 84 | ||||
* | Salzgitter AG | 1,779 | 78 | |||
* | Nagarro SE | 542 | 77 | |||
1&1 AG | 3,146 | 75 | ||||
Grand City Properties SA | 3,444 | 75 | ||||
* | METRO AG | 7,487 | 70 | |||
Telefonica Deutschland Holding AG | 24,368 | 67 | ||||
Basler AG | 528 | 67 | ||||
2 | Deutsche Pfandbriefbank AG | 5,268 | 57 | |||
Suedzucker AG | 4,134 | 56 | ||||
* | Kloeckner & Co. SE | 4,052 | 55 | |||
2 | DWS Group GmbH & Co. KGaA | 1,444 | 53 | |||
*,2 | Shop Apotheke Europe NV | 545 | 52 | |||
Krones AG | 560 | 51 | ||||
Norma Group SE | 1,475 | 51 | ||||
GRENKE AG | 1,750 | 50 | ||||
Pfeiffer Vacuum Technology AG | 249 | 50 | ||||
Deutsche EuroShop AG | 2,584 | 49 | ||||
CECONOMY AG | 12,329 | 49 | ||||
Hornbach Holding AG & Co. KGaA | 361 | 47 | ||||
Talanx AG | 1,046 | 46 | ||||
STRATEC SE | 359 | 46 | ||||
Eckert & Ziegler Strahlen- und Medizintechnik AG | 616 | 45 | ||||
Fielmann AG | 747 | 44 | ||||
S&T AG | 2,657 | 42 | ||||
CropEnergies AG | 2,396 | 34 |
Shares | Market Value• ($000) | |||||
Deutsche Beteiligungs AG | 832 | 33 | ||||
PATRIZIA AG | 1,664 | 32 | ||||
* | Deutz AG | 5,356 | 31 | |||
Traton SE | 1,482 | 30 | ||||
Atoss Software AG | 153 | 30 | ||||
BayWa AG | 684 | 28 | ||||
Takkt AG | 1,500 | 26 | ||||
DIC Asset AG | 1,490 | 25 | ||||
Secunet Security Networks AG | 59 | 24 | ||||
Washtec AG | 418 | 22 | ||||
SMA Solar Technology AG | 545 | 21 | ||||
New Work SE | 100 | 18 | ||||
Hornbach Baumarkt AG | 308 | 17 | ||||
Schaeffler AG Preference Shares | 2,248 | 15 | ||||
* | ElringKlinger AG | 1,438 | 15 | |||
Wacker Neuson SE | 574 | 14 | ||||
Draegerwerk AG & Co. KGaA Preference Shares | 235 | 13 | ||||
KWS Saat SE & Co. KGaA | 157 | 11 | ||||
* | Koenig & Bauer AG | 378 | 10 | |||
FUCHS PETROLUB SE Preference Shares | 203 | 8 | ||||
Draegerwerk AG & Co. KGaA | 110 | 6 | ||||
147,654 | ||||||
Greece (0.1%) | ||||||
Hellenic Telecommunications Organization SA | 43,133 | 863 | ||||
* | Eurobank Ergasias Services & Holdings SA | 596,279 | 653 | |||
* | Alpha Services & Holdings SA | 239,109 | 326 | |||
* | National Bank of Greece SA | 57,781 | 214 | |||
* | Fourlis Holdings SA | 41,041 | 181 | |||
JUMBO SA | 7,191 | 103 | ||||
Hellenic Exchanges - Athens Stock Exchange SA | 17,518 | 77 | ||||
* | Aegean Airlines SA | 11,804 | 76 | |||
* | Piraeus Financial Holdings SA | 46,635 | 74 | |||
Sarantis SA | 4,643 | 38 | ||||
Holding Co. ADMIE IPTO SA | 12,993 | 35 | ||||
Terna Energy SA | 2,372 | 34 | ||||
Viohalco SA | 4,507 | 22 | ||||
Athens Water Supply & Sewage Co. SA | 1,803 | 14 | ||||
* | Ellaktor SA | 8,114 | 12 |
Shares | Market Value• ($000) | |||||
* | GEK Terna Holding Real Estate Construction SA | 1,145 | 11 | |||
* | LAMDA Development SA | 930 | 7 | |||
2,740 | ||||||
Hong Kong (2.0%) | ||||||
AIA Group Ltd. | 1,751,600 | 18,188 | ||||
Hong Kong Exchanges & Clearing Ltd. | 186,400 | 9,032 | ||||
Techtronic Industries Co. Ltd. | 197,000 | 3,301 | ||||
Sun Hung Kai Properties Ltd. | 245,000 | 2,848 | ||||
Link REIT | 311,900 | 2,520 | ||||
BOC Hong Kong Holdings Ltd. | 657,000 | 2,362 | ||||
Hang Seng Bank Ltd. | 122,000 | 2,250 | ||||
Lenovo Group Ltd. | 1,340,000 | 1,492 | ||||
Power Assets Holdings Ltd. | 224,500 | 1,415 | ||||
Wharf Real Estate Investment Co. Ltd. | 278,000 | 1,248 | ||||
Sino Land Co. Ltd. | 890,000 | 1,123 | ||||
Wharf Holdings Ltd. | 310,000 | 1,122 | ||||
Hang Lung Properties Ltd. | 530,000 | 1,112 | ||||
SITC International Holdings Co. Ltd. | 254,000 | 1,047 | ||||
PCCW Ltd. | 1,754,590 | 982 | ||||
New World Development Co. Ltd. | 238,750 | 955 | ||||
Tingyi Cayman Islands Holding Corp. | 394,000 | 872 | ||||
2 | WH Group Ltd. | 1,192,592 | 833 | |||
Hongkong Land Holdings Ltd. | 118,200 | 640 | ||||
ASM Pacific Technology Ltd. | 51,900 | 569 | ||||
Hysan Development Co. Ltd. | 192,000 | 565 | ||||
Swire Properties Ltd. | 182,600 | 475 | ||||
* | Chow Tai Fook Jewellery Group Ltd. | 202,800 | 421 | |||
MTR Corp. Ltd. | 79,500 | 412 | ||||
*,2 | Samsonite International SA | 181,200 | 406 | |||
Bank of East Asia Ltd. | 236,800 | 399 | ||||
AAC Technologies Holdings Inc. | 144,000 | 394 | ||||
NWS Holdings Ltd. | 389,000 | 383 | ||||
Henderson Land Development Co. Ltd. | 88,400 | 368 | ||||
PRADA SpA | 47,200 | 295 | ||||
Pacific Basin Shipping Ltd. | 550,000 | 293 | ||||
Minth Group Ltd. | 76,000 | 275 | ||||
Man Wah Holdings Ltd. | 190,400 | 224 |
Shares | Market Value• ($000) | |||||
Hong Kong Technology Venture Co. Ltd. | 202,000 | 215 | ||||
Canvest Environmental Protection Group Co. Ltd. | 431,000 | 210 | ||||
Fortune REIT | 220,000 | 207 | ||||
*,2 | Razer Inc. | 583,000 | 189 | |||
Vitasoy International Holdings Ltd. | 90,000 | 167 | ||||
* | Vobile Group Ltd. | 221,000 | 163 | |||
Microport Scientific Corp. | 55,200 | 154 | ||||
* | Towngas Smart Energy Co. Ltd. | 211,000 | 150 | |||
Swire Pacific Ltd. Class B | 155,000 | 146 | ||||
IGG Inc. | 219,000 | 131 | ||||
* | MMG Ltd. | 360,000 | 130 | |||
Uni-President China Holdings Ltd. | 125,000 | 130 | ||||
CK Infrastructure Holdings Ltd. | 21,000 | 130 | ||||
First Pacific Co. Ltd. | 304,000 | 119 | ||||
Nexteer Automotive Group Ltd. | 109,000 | 109 | ||||
Kerry Logistics Network Ltd. | 39,500 | 96 | ||||
2 | BOC Aviation Ltd. | 10,200 | 89 | |||
L'Occitane International SA | 25,750 | 89 | ||||
VTech Holdings Ltd. | 8,200 | 67 | ||||
* | Yue Yuen Industrial Holdings Ltd. | 38,000 | 64 | |||
LK Technology Holdings Ltd. | 37,500 | 63 | ||||
2 | AsiaInfo Technologies Ltd. | 30,000 | 56 | |||
Lee & Man Paper Manufacturing Ltd. | 85,000 | 55 | ||||
*,2 | FIT Hon Teng Ltd. | 298,000 | 54 | |||
Swire Pacific Ltd. Class A | 9,500 | 53 | ||||
Powerlong Real Estate Holdings Ltd. | 104,000 | 50 | ||||
CMBC Capital Holdings Ltd. | 164,250 | 49 | ||||
Luk Fook Holdings International Ltd. | 18,000 | 48 | ||||
* | Glory Sun Financial Group Ltd. | 2,156,000 | 48 | |||
2 | JS Global Lifestyle Co. Ltd. | 42,000 | 48 | |||
* | China Travel International Investment Hong Kong Ltd. | 228,000 | 45 | |||
Vesync Co. Ltd. | 64,000 | 45 | ||||
Truly International Holdings Ltd. | 124,000 | 43 | ||||
HKBN Ltd. | 34,000 | 43 | ||||
Hang Lung Group Ltd. | 19,000 | 42 | ||||
Prosperity REIT | 113,000 | 42 |
Shares | Market Value• ($000) | |||||
Vinda International Holdings Ltd. | 14,000 | 40 | ||||
Dairy Farm International Holdings Ltd. | 13,900 | 37 | ||||
*,2 | Everest Medicines Ltd. | 12,000 | 37 | |||
Giordano International Ltd. | 178,000 | 36 | ||||
*,2 | Xiabuxiabu Catering Management China Holdings Co. Ltd. | 57,500 | 36 | |||
Lee's Pharmaceutical Holdings Ltd. | 91,500 | 33 | ||||
Powerlong Commercial Management Holdings Ltd. | 19,000 | 33 | ||||
EC Healthcare | 31,000 | 31 | ||||
Value Partners Group Ltd. | 62,000 | 30 | ||||
Kerry Properties Ltd. | 10,500 | 29 | ||||
SUNeVision Holdings Ltd. | 33,000 | 29 | ||||
Texhong Textile Group Ltd. | 23,000 | 29 | ||||
* | Pou Sheng International Holdings Ltd. | 186,000 | 28 | |||
*,2 | Jacobio Pharmaceuticals Group Co. Ltd. | 25,200 | 28 | |||
Johnson Electric Holdings Ltd. | 16,000 | 27 | ||||
* | Realord Group Holdings Ltd. | 22,000 | 27 | |||
Singamas Container Holdings Ltd. | 186,000 | 26 | ||||
Champion REIT | 50,000 | 23 | ||||
* | Cathay Pacific Airways Ltd. | 26,181 | 23 | |||
Haitong International Securities Group Ltd. | 101,000 | 22 | ||||
Cafe de Coral Holdings Ltd. | 14,000 | 21 | ||||
VSTECS Holdings Ltd. | 20,000 | 21 | ||||
Shui On Land Ltd. | 108,500 | 16 | ||||
Stella International Holdings Ltd. | 15,500 | 16 | ||||
2 | Crystal International Group Ltd. | 45,000 | 15 | |||
Sunlight REIT | 28,000 | 14 | ||||
C-Mer Eye Care Holdings Ltd. | 20,000 | 14 | ||||
* | Cosmopolitan International Holdings Ltd. | 80,000 | 14 | |||
United Laboratories International Holdings Ltd. | 24,000 | 13 | ||||
* | FIH Mobile Ltd. | 91,000 | 13 | |||
* | China LNG Group Ltd. | 276,000 | 13 | |||
2 | IMAX China Holding Inc. | 9,500 | 13 | |||
*,2 | Frontage Holdings Corp. | 26,000 | 12 |
Shares | Market Value• ($000) | |||||
* | Apollo Future Mobility Group Ltd. | 240,000 | 12 | |||
* | Digital Domain Holdings Ltd. | 146,000 | 11 | |||
K Wah International Holdings Ltd. | 26,000 | 10 | ||||
Beijing Tong Ren Tang Chinese Medicine Co. Ltd. | 7,000 | 10 | ||||
* | Esprit Holdings Ltd. | 79,050 | 9 | |||
Asia Cement China Holdings Corp. | 15,000 | 9 | ||||
*,2 | Antengene Corp. Ltd. | 6,500 | 5 | |||
CITIC Telecom International Holdings Ltd. | 12,000 | 4 | ||||
2 | VPower Group International Holdings Ltd. | 24,000 | 4 | |||
* | Sa Sa International Holdings Ltd. | 14,000 | 3 | |||
Guotai Junan International Holdings Ltd. | 25,000 | 3 | ||||
*,1 | MH Development Ltd. | 6,000 | 1 | |||
63,240 | ||||||
Hungary (0.1%) | ||||||
* | OTP Bank Nyrt. | 38,633 | 1,474 | |||
Richter Gedeon Nyrt. | 43,443 | 912 | ||||
2,386 | ||||||
India (3.5%) | ||||||
Infosys Ltd. | 499,356 | 11,380 | ||||
Housing Development Finance Corp. Ltd. | 244,925 | 7,741 | ||||
Hindustan Unilever Ltd. | 120,603 | 3,488 | ||||
* | Axis Bank Ltd. | 310,516 | 3,081 | |||
Bajaj Finance Ltd. | 31,157 | 2,917 | ||||
* | Bharti Airtel Ltd. | 304,014 | 2,780 | |||
Asian Paints Ltd. | 61,901 | 2,616 | ||||
HCL Technologies Ltd. | 145,550 | 2,189 | ||||
ICICI Bank Ltd. | 206,059 | 2,041 | ||||
Titan Co. Ltd. | 56,581 | 1,922 | ||||
Maruti Suzuki India Ltd. | 17,277 | 1,915 | ||||
Sun Pharmaceutical Industries Ltd. | 136,806 | 1,537 | ||||
State Bank of India | 235,355 | 1,520 | ||||
* | Adani Green Energy Ltd. | 57,636 | 1,418 | |||
UltraTech Cement Ltd. | 15,389 | 1,347 | ||||
Wipro Ltd. | 165,999 | 1,228 | ||||
Power Grid Corp. of India Ltd. | 425,351 | 1,184 | ||||
*,2 | Avenue Supermarts Ltd. | 20,105 | 1,163 | |||
Nestle India Ltd. | 4,807 | 1,129 | ||||
Bajaj Finserv Ltd. | 5,181 | 1,111 | ||||
Grasim Industries Ltd. | 51,046 | 1,089 | ||||
* | Adani Transmission Ltd. | 35,255 | 1,005 |
Shares | Market Value• ($000) | |||||
Divi's Laboratories Ltd. | 16,942 | 963 | ||||
Apollo Hospitals Enterprise Ltd. | 12,980 | 831 | ||||
2 | HDFC Life Insurance Co. Ltd. | 118,597 | 827 | |||
Cipla Ltd. | 66,919 | 824 | ||||
Tata Consumer Products Ltd. | 83,815 | 803 | ||||
Dr Reddy's Laboratories Ltd. | 14,669 | 792 | ||||
Adani Total Gas Ltd. | 37,418 | 792 | ||||
2 | SBI Life Insurance Co. Ltd. | 55,567 | 786 | |||
Britannia Industries Ltd. | 15,176 | 693 | ||||
Info Edge India Ltd. | 10,733 | 638 | ||||
SRF Ltd. | 18,413 | 586 | ||||
Shree Cement Ltd. | 1,787 | 582 | ||||
Cholamandalam Investment & Finance Co. Ltd. | 62,966 | 581 | ||||
2 | ICICI Lombard General Insurance Co. Ltd. | 33,152 | 558 | |||
Pidilite Industries Ltd. | 16,819 | 538 | ||||
Havells India Ltd. | 33,236 | 525 | ||||
Dabur India Ltd. | 67,727 | 508 | ||||
Voltas Ltd. | 29,574 | 497 | ||||
Embassy Office Parks REIT | 97,996 | 488 | ||||
* | Indus Towers Ltd. | 168,983 | 485 | |||
Shriram Transport Finance Co. Ltd. | 32,065 | 482 | ||||
Mphasis Ltd. | 11,541 | 479 | ||||
Eicher Motors Ltd. | 13,806 | 477 | ||||
* | Godrej Consumer Products Ltd. | 46,384 | 474 | |||
Marico Ltd. | 68,482 | 469 | ||||
Jubilant Foodworks Ltd. | 11,984 | 466 | ||||
2 | Bandhan Bank Ltd. | 111,346 | 455 | |||
Hero MotoCorp Ltd. | 13,263 | 449 | ||||
* | Max Financial Services Ltd. | 39,267 | 434 | |||
Piramal Enterprises Ltd. | 15,598 | 431 | ||||
Tata Elxsi Ltd. | 4,728 | 406 | ||||
* | SBI Cards & Payment Services Ltd. | 37,624 | 394 | |||
Trent Ltd. | 26,588 | 393 | ||||
Finolex Industries Ltd. | 182,853 | 374 | ||||
Page Industries Ltd. | 660 | 372 | ||||
Ambuja Cements Ltd. | 88,120 | 369 | ||||
Zee Entertainment Enterprises Ltd. | 119,688 | 367 | ||||
Persistent Systems Ltd. | 6,594 | 347 | ||||
ACC Ltd. | 12,409 | 346 | ||||
*,2 | AU Small Finance Bank Ltd. | 21,472 | 345 | |||
Indian Railway Catering & Tourism Corp. Ltd. | 31,778 | 345 |
Shares | Market Value• ($000) | |||||
*,2 | InterGlobe Aviation Ltd. | 13,517 | 338 | |||
Colgate-Palmolive India Ltd. | 16,953 | 327 | ||||
DLF Ltd. | 69,777 | 327 | ||||
PI Industries Ltd. | 9,854 | 324 | ||||
2 | Laurus Labs Ltd. | 44,502 | 322 | |||
Tanla Platforms Ltd. | 14,741 | 309 | ||||
Motherson Sumi Systems Ltd. | 148,488 | 299 | ||||
Astral Ltd. | 11,549 | 299 | ||||
Indraprastha Gas Ltd. | 64,138 | 297 | ||||
Aurobindo Pharma Ltd. | 34,962 | 291 | ||||
IIFL Finance Ltd. | 73,316 | 291 | ||||
Federal Bank Ltd. | 224,781 | 291 | ||||
Crompton Greaves Consumer Electricals Ltd. | 49,883 | 285 | ||||
Tata Communications Ltd. | 17,870 | 282 | ||||
Tube Investments of India Ltd. | 13,884 | 281 | ||||
Escorts Ltd. | 11,319 | 279 | ||||
* | APL Apollo Tubes Ltd. | 23,790 | 271 | |||
Bajaj Auto Ltd. | 5,693 | 268 | ||||
Sundaram Finance Ltd. | 10,445 | 265 | ||||
* | Max Healthcare Institute Ltd. | 51,296 | 256 | |||
* | Biocon Ltd. | 54,871 | 255 | |||
Gujarat Gas Ltd. | 32,791 | 255 | ||||
Berger Paints India Ltd. | 27,607 | 254 | ||||
Lupin Ltd. | 25,054 | 249 | ||||
Deepak Nitrite Ltd. | 9,317 | 249 | ||||
2 | ICICI Prudential Life Insurance Co. Ltd. | 38,742 | 247 | |||
Indian Hotels Co. Ltd. | 92,172 | 246 | ||||
2 | HDFC Asset Management Co. Ltd. | 8,794 | 245 | |||
LIC Housing Finance Ltd. | 53,107 | 243 | ||||
Carborundum Universal Ltd. | 22,595 | 242 | ||||
Aarti Industries Ltd. | 19,515 | 241 | ||||
* | IDFC First Bank Ltd. | 428,610 | 241 | |||
Ipca Laboratories Ltd. | 18,440 | 241 | ||||
Muthoot Finance Ltd. | 13,150 | 238 | ||||
2 | Mindspace Business Parks REIT | 50,203 | 238 | |||
Supreme Industries Ltd. | 8,648 | 236 | ||||
Petronet LNG Ltd. | 80,884 | 232 | ||||
Container Corp. of India Ltd. | 29,019 | 232 | ||||
Dalmia Bharat Ltd. | 10,983 | 229 | ||||
* | Aavas Financiers Ltd. | 6,115 | 228 | |||
Emami Ltd. | 34,228 | 226 | ||||
Torrent Power Ltd. | 35,760 | 226 | ||||
Blue Star Ltd. | 15,831 | 226 | ||||
KPIT Technologies Ltd. | 29,247 | 223 |
Shares | Market Value• ($000) | |||||
Ramco Cements Ltd. | 21,062 | 221 | ||||
* | Godrej Properties Ltd. | 10,873 | 218 | |||
Atul Ltd. | 1,769 | 218 | ||||
Can Fin Homes Ltd. | 27,624 | 214 | ||||
Navin Fluorine International Ltd. | 4,126 | 214 | ||||
Dixon Technologies India Ltd. | 3,698 | 213 | ||||
NMDC Ltd. | 110,124 | 211 | ||||
Polycab India Ltd. | 6,607 | 209 | ||||
Avanti Feeds Ltd. | 32,443 | 207 | ||||
Redington India Ltd. | 99,304 | 203 | ||||
Amara Raja Batteries Ltd. | 27,205 | 203 | ||||
* | Affle India Ltd. | 12,443 | 203 | |||
Prestige Estates Projects Ltd. | 33,210 | 201 | ||||
Tata Chemicals Ltd. | 17,819 | 200 | ||||
Gillette India Ltd. | 2,892 | 199 | ||||
Suven Pharmaceuticals Ltd. | 29,059 | 198 | ||||
City Union Bank Ltd. | 116,325 | 194 | ||||
Cholamandalam Financial Holdings Ltd. | 22,498 | 193 | ||||
* | TeamLease Services Ltd. | 3,525 | 193 | |||
Coromandel International Ltd. | 18,638 | 192 | ||||
* | Fortis Healthcare Ltd. | 57,049 | 187 | |||
Brigade Enterprises Ltd. | 27,656 | 183 | ||||
Schaeffler India Ltd. | 7,530 | 183 | ||||
* | Bank of Baroda | 126,839 | 181 | |||
Power Finance Corp. Ltd. | 121,687 | 178 | ||||
Relaxo Footwears Ltd. | 10,859 | 176 | ||||
* | V-Mart Retail Ltd. | 3,833 | 174 | |||
JK Cement Ltd. | 4,602 | 174 | ||||
*,2 | RBL Bank Ltd. | 96,422 | 172 | |||
Kajaria Ceramics Ltd. | 11,828 | 171 | ||||
Torrent Pharmaceuticals Ltd. | 4,643 | 170 | ||||
PTC India Ltd. | 148,498 | 168 | ||||
* | Oberoi Realty Ltd. | 13,834 | 168 | |||
Rajesh Exports Ltd. | 17,954 | 167 | ||||
KEI Industries Ltd. | 12,607 | 167 | ||||
* | Gujarat Fluorochemicals Ltd. | 4,820 | 166 | |||
SKF India Ltd. | 3,474 | 166 | ||||
Bayer CropScience Ltd. | 2,800 | 164 | ||||
Care Ratings Ltd. | 22,951 | 164 | ||||
* | IDFC Ltd. | 209,109 | 162 | |||
KEC International Ltd. | 26,052 | 162 | ||||
AIA Engineering Ltd. | 7,314 | 158 | ||||
Central Depository Services India Ltd. | 8,717 | 158 | ||||
Balkrishna Industries Ltd. | 6,406 | 156 | ||||
Honeywell Automation India Ltd. | 286 | 156 | ||||
* | Vodafone Idea Ltd. | 1,123,026 | 155 |
Shares | Market Value• ($000) | |||||
Bosch Ltd. | 727 | 153 | ||||
Birlasoft Ltd. | 28,130 | 153 | ||||
2 | Nippon Life India Asset Management Ltd. | 37,289 | 153 | |||
Sobha Ltd. | 14,591 | 151 | ||||
Mahindra & Mahindra Financial Services Ltd. | 77,702 | 151 | ||||
Bajaj Holdings & Investment Ltd. | 2,162 | 150 | ||||
National Aluminium Co. Ltd. | 91,565 | 149 | ||||
2 | Indian Energy Exchange Ltd. | 54,105 | 149 | |||
REC Ltd. | 90,441 | 147 | ||||
* | Narayana Hrudayalaya Ltd. | 16,140 | 147 | |||
PNC Infratech Ltd. | 41,475 | 147 | ||||
Thermax Ltd. | 6,011 | 145 | ||||
eClerx Services Ltd. | 5,045 | 145 | ||||
* | Canara Bank | 48,953 | 144 | |||
*,1 | Gateway Rail Freight Ltd. | 154,364 | 144 | |||
Manappuram Finance Ltd. | 93,394 | 142 | ||||
* | Suzlon Energy Ltd. | 1,131,063 | 142 | |||
* | IRB Infrastructure Developers Ltd. | 49,195 | 142 | |||
Oracle Financial Services Software Ltd. | 3,124 | 141 | ||||
* | EIH Ltd. | 81,324 | 141 | |||
Zydus Wellnes Ltd. | 6,698 | 141 | ||||
* | Bajaj Electricals Ltd. | 9,251 | 141 | |||
2 | ICICI Securities Ltd. | 15,669 | 139 | |||
Sumitomo Chemical India Ltd. | 27,465 | 138 | ||||
Akzo Nobel India Ltd. | 5,519 | 138 | ||||
* | Intellect Design Arena Ltd. | 15,767 | 138 | |||
*,2 | Aster DM Healthcare Ltd. | 60,595 | 138 | |||
Balrampur Chini Mills Ltd. | 25,755 | 137 | ||||
Bombay Burmah Trading Co. | 10,636 | 136 | ||||
Coforge Ltd. | 2,208 | 134 | ||||
* | DCB Bank Ltd. | 137,020 | 134 | |||
V-Guard Industries Ltd. | 50,797 | 132 | ||||
CRISIL Ltd. | 3,429 | 132 | ||||
JM Financial Ltd. | 144,324 | 131 | ||||
Bata India Ltd. | 5,396 | 130 | ||||
2 | Godrej Agrovet Ltd. | 21,051 | 130 | |||
2 | Dr Lal PathLabs Ltd. | 3,876 | 130 | |||
Shriram City Union Finance Ltd. | 6,124 | 129 | ||||
* | Equitas Holdings Ltd. | 89,466 | 128 | |||
Natco Pharma Ltd. | 10,974 | 127 | ||||
Poly Medicure Ltd. | 12,009 | 127 | ||||
Mahanagar Gas Ltd. | 12,969 | 126 | ||||
* | Aditya Birla Capital Ltd. | 88,884 | 125 | |||
Sundram Fasteners Ltd. | 10,931 | 124 |
Shares | Market Value• ($000) | |||||
Edelweiss Financial Services Ltd. | 169,856 | 124 | ||||
*,2 | Syngene International Ltd. | 17,179 | 124 | |||
Gujarat Pipavav Port Ltd. | 109,491 | 123 | ||||
Kansai Nerolac Paints Ltd. | 20,323 | 123 | ||||
Orient Electric Ltd. | 27,671 | 122 | ||||
EPL Ltd. | 57,947 | 122 | ||||
2 | IndiaMart InterMesh Ltd. | 1,910 | 122 | |||
Happiest Minds Technologies Ltd. | 9,337 | 122 | ||||
Linde India Ltd. | 3,212 | 118 | ||||
Alkyl Amines Chemicals | 2,943 | 118 | ||||
Glenmark Pharmaceuticals Ltd. | 19,567 | 117 | ||||
2 | Metropolis Healthcare Ltd. | 4,469 | 117 | |||
Phoenix Mills Ltd. | 9,110 | 116 | ||||
Motilal Oswal Financial Services Ltd. | 9,857 | 116 | ||||
Hindustan Zinc Ltd. | 27,472 | 115 | ||||
Kaveri Seed Co. Ltd. | 17,682 | 115 | ||||
Computer Age Management Services Ltd. | 3,410 | 114 | ||||
TVS Motor Co. Ltd. | 13,557 | 112 | ||||
Cadila Healthcare Ltd. | 23,350 | 112 | ||||
Minda Industries Ltd. | 9,005 | 111 | ||||
Zensar Technologies Ltd. | 23,716 | 110 | ||||
Chambal Fertilisers & Chemicals Ltd. | 21,196 | 107 | ||||
Sterlite Technologies Ltd. | 45,252 | 107 | ||||
Pfizer Ltd. | 1,775 | 104 | ||||
* | Westlife Development Ltd. | 16,809 | 104 | |||
* | Godrej Industries Ltd. | 14,866 | 103 | |||
* | Alok Industries Ltd. | 320,847 | 103 | |||
Vaibhav Global Ltd. | 18,866 | 103 | ||||
Finolex Cables Ltd. | 18,603 | 102 | ||||
JB Chemicals & Pharmaceuticals Ltd. | 4,726 | 102 | ||||
* | Amber Enterprises India Ltd. | 2,203 | 102 | |||
Granules India Ltd. | 26,332 | 102 | ||||
* | CreditAccess Grameen Ltd. | 10,221 | 102 | |||
* | Sun Pharma Advanced Research Co. Ltd. | 28,046 | 101 | |||
DCM Shriram Ltd. | 7,257 | 101 | ||||
Exide Industries Ltd. | 50,415 | 100 | ||||
Sonata Software Ltd. | 10,220 | 100 | ||||
* | Aditya Birla Fashion & Retail Ltd. | 27,268 | 98 | |||
2 | Eris Lifesciences Ltd. | 10,862 | 98 | |||
Vinati Organics Ltd. | 3,971 | 98 | ||||
* | PVR Ltd. | 4,423 | 97 |
Shares | Market Value• ($000) | |||||
2 | Quess Corp. Ltd. | 11,436 | 96 | |||
JK Lakshmi Cement Ltd. | 16,022 | 96 | ||||
Ajanta Pharma Ltd. | 4,160 | 95 | ||||
NCC Ltd. | 113,086 | 94 | ||||
Praj Industries Ltd. | 20,435 | 93 | ||||
GlaxoSmithKline Pharmaceuticals Ltd. | 4,423 | 89 | ||||
NHPC Ltd. | 241,841 | 88 | ||||
EID Parry India Ltd. | 15,993 | 88 | ||||
AstraZeneca Pharma India Ltd. | 2,527 | 88 | ||||
* | IFCI Ltd. | 520,947 | 86 | |||
Indiabulls Housing Finance Ltd. | 42,776 | 86 | ||||
*,2 | PNB Housing Finance Ltd. | 15,543 | 85 | |||
Alkem Laboratories Ltd. | 1,926 | 84 | ||||
Jubilant Pharmova Ltd. Class A | 15,700 | 83 | ||||
Karnataka Bank Ltd. | 101,832 | 81 | ||||
Rallis India Ltd. | 25,921 | 81 | ||||
Welspun India Ltd. | 56,513 | 79 | ||||
Alembic Pharmaceuticals Ltd. | 7,940 | 77 | ||||
Castrol India Ltd. | 53,865 | 77 | ||||
Balaji Amines Ltd. | 1,955 | 75 | ||||
* | Bank of India | 118,961 | 74 | |||
India Cements Ltd. | 27,361 | 74 | ||||
Symphony Ltd. | 5,659 | 74 | ||||
Apollo Tyres Ltd. | 29,008 | 72 | ||||
Indian Bank | 37,677 | 72 | ||||
2 | Dilip Buildcon Ltd. | 20,052 | 72 | |||
Century Textiles & Industries Ltd. | 6,847 | 70 | ||||
Bajaj Consumer Care Ltd. | 32,552 | 70 | ||||
Procter & Gamble Health Ltd. | 1,146 | 70 | ||||
Jubilant Ingrevia Ltd. | 10,447 | 70 | ||||
* | Punjab National Bank | 148,444 | 69 | |||
TTK Prestige Ltd. | 6,540 | 69 | ||||
Strides Pharma Science Ltd. | 15,586 | 66 | ||||
Firstsource Solutions Ltd. | 38,991 | 66 | ||||
Karur Vysya Bank Ltd. | 102,986 | 65 | ||||
Whirlpool of India Ltd. | 2,819 | 63 | ||||
* | Dhani Services Ltd. | 59,058 | 62 | |||
Multi Commodity Exchange of India Ltd. | 3,581 | 61 | ||||
Graphite India Ltd. | 9,586 | 60 | ||||
2 | Endurance Technologies Ltd. | 3,406 | 60 | |||
* | TV18 Broadcast Ltd. | 71,623 | 59 | |||
*,1 | Motherson Sumi Wiring India Ltd. | 127,483 | 59 | |||
* | South Indian Bank Ltd. | 522,267 | 56 | |||
* | Just Dial Ltd. | 5,648 | 56 |
Shares | Market Value• ($000) | |||||
KRBL Ltd. | 20,932 | 54 | ||||
Welspun Corp. Ltd. | 28,252 | 54 | ||||
* | Indiabulls Real Estate Ltd. | 36,691 | 53 | |||
* | Raymond Ltd. | 5,062 | 50 | |||
* | Union Bank of India Ltd. | 93,939 | 50 | |||
HEG Ltd. | 3,160 | 48 | ||||
Jindal Saw Ltd. | 39,281 | 46 | ||||
*,2 | New India Assurance Co. Ltd. | 29,106 | 46 | |||
NBCC India Ltd. | 85,173 | 44 | ||||
Infibeam Avenues Ltd. | 82,539 | 43 | ||||
Rain Industries Ltd. | 16,752 | 42 | ||||
Aegis Logistics Ltd. | 17,303 | 39 | ||||
* | Mahindra CIE Automotive Ltd. | 13,997 | 36 | |||
Vakrangee Ltd. | 86,136 | 36 | ||||
Ceat Ltd. | 2,725 | 35 | ||||
* | Future Consumer Ltd. | 340,222 | 33 | |||
*,2 | General Insurance Corp. of India | 20,787 | 32 | |||
WABCO India Ltd. | 151 | 15 | ||||
* | Yes Bank Ltd. | 54,048 | 10 | |||
112,610 | ||||||
Indonesia (0.5%) | ||||||
Bank Central Asia Tbk. PT | 6,792,816 | 3,835 | ||||
Bank Rakyat Indonesia Persero Tbk. PT | 10,774,096 | 3,445 | ||||
Telkom Indonesia Persero Tbk. PT | 8,980,000 | 2,711 | ||||
Bank Mandiri Persero Tbk. PT | 3,644,500 | 1,970 | ||||
Bank Negara Indonesia Persero Tbk. PT | 1,711,800 | 959 | ||||
Charoen Pokphand Indonesia Tbk. PT | 1,208,900 | 490 | ||||
Tower Bersama Infrastructure Tbk. PT | 1,219,600 | 251 | ||||
Matahari Department Store Tbk. PT | 705,800 | 225 | ||||
* | Summarecon Agung Tbk. PT | 4,030,906 | 196 | |||
Sarana Menara Nusantara Tbk. PT | 2,416,400 | 175 | ||||
Indah Kiat Pulp & Paper Tbk. PT | 306,500 | 173 | ||||
Unilever Indonesia Tbk. PT | 560,400 | 144 | ||||
Kalbe Farma Tbk. PT | 1,198,100 | 137 | ||||
Barito Pacific Tbk. PT | 1,969,200 | 123 | ||||
Indofood Sukses Makmur Tbk. PT | 280,800 | 121 | ||||
Indocement Tunggal Prakarsa Tbk. PT | 143,400 | 110 | ||||
Ciputra Development Tbk. PT | 1,212,800 | 78 |
Shares | Market Value• ($000) | |||||
Indofood CBP Sukses Makmur Tbk. PT | 132,300 | 78 | ||||
* | Bank Bukopin Tbk. PT | 3,577,300 | 66 | |||
BFI Finance Indonesia Tbk. PT | 723,600 | 65 | ||||
Bank BTPN Syariah Tbk. PT | 213,700 | 54 | ||||
* | Smartfren Telecom Tbk. PT | 9,186,800 | 51 | |||
* | Surya Citra Media Tbk. PT | 2,787,300 | 50 | |||
Japfa Comfeed Indonesia Tbk. PT | 449,400 | 49 | ||||
XL Axiata Tbk. PT | 228,900 | 46 | ||||
Vale Indonesia Tbk. PT | 113,500 | 43 | ||||
* | Ramayana Lestari Sentosa Tbk. PT | 945,400 | 42 | |||
Ace Hardware Indonesia Tbk. PT | 552,200 | 41 | ||||
* | Pakuwon Jati Tbk. PT | 1,250,600 | 40 | |||
* | Adhi Karya Persero Tbk. PT | 736,100 | 39 | |||
* | Mitra Adiperkasa Tbk. PT | 706,400 | 39 | |||
* | Global Mediacom Tbk. PT | 2,154,300 | 38 | |||
* | Bumi Serpong Damai Tbk. PT | 586,000 | 38 | |||
* | Wijaya Karya Persero Tbk. PT | 489,100 | 35 | |||
* | Waskita Karya Persero Tbk. PT | 840,019 | 34 | |||
Indosat Tbk. PT | 85,600 | 33 | ||||
* | Bank Tabungan Negara Persero Tbk. PT | 258,100 | 32 | |||
* | Bank Raya Indonesia Tbk. PT | 324,651 | 32 | |||
Astra Agro Lestari Tbk. PT | 38,600 | 31 | ||||
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk. PT | 269,900 | 26 | ||||
* | Surya Semesta Internusa Tbk. PT | 980,500 | 23 | |||
Mitra Keluarga Karyasehat Tbk. PT | 145,200 | 22 | ||||
* | Jasa Marga Persero Tbk. PT | 85,400 | 20 | |||
* | Panin Financial Tbk. PT | 1,250,200 | 15 | |||
* | Krakatau Steel Persero Tbk. PT | 423,700 | 11 | |||
Media Nusantara Citra Tbk. PT | 131,500 | 8 | ||||
*,1 | Trada Alam Minera Tbk. PT | 477,100 | 2 | |||
16,246 | ||||||
Ireland (0.2%) | ||||||
Kerry Group plc Class A | 22,040 | 2,626 | ||||
Kingspan Group plc | 22,520 | 2,199 | ||||
* | Bank of Ireland Group plc | 116,662 | 774 | |||
Kingspan Group plc | 2,173 | 208 |
Shares | Market Value• ($000) | |||||
Glanbia plc | 9,710 | 136 | ||||
* | AIB Group plc | 42,550 | 112 | |||
* | Dalata Hotel Group plc | 22,784 | 107 | |||
* | Irish Continental Group plc | 12,408 | 56 | |||
Hibernia REIT plc | 27,346 | 36 | ||||
Cairn Homes plc | 15,088 | 22 | ||||
Glanbia plc | 28 | — | ||||
6,276 | ||||||
Israel (0.5%) | ||||||
Bank Leumi Le-Israel BM | 254,437 | 2,756 | ||||
* | Nice Ltd. | 10,761 | 2,434 | |||
Bank Hapoalim BM | 222,490 | 2,358 | ||||
ICL Group Ltd. | 168,767 | 1,917 | ||||
Israel Discount Bank Ltd. Class A | 278,425 | 1,836 | ||||
* | Tower Semiconductor Ltd. | 12,643 | 591 | |||
* | Nova Ltd. | 3,706 | 406 | |||
Azrieli Group Ltd. | 4,682 | 399 | ||||
Reit 1 Ltd. | 51,819 | 343 | ||||
* | Bezeq The Israeli Telecommunication Corp. Ltd. | 204,451 | 336 | |||
Mizrahi Tefahot Bank Ltd. | 8,571 | 335 | ||||
* | Enlight Renewable Energy Ltd. | 89,159 | 215 | |||
Mivne Real Estate KD Ltd. | 45,887 | 180 | ||||
Fox Wizel Ltd. | 884 | 150 | ||||
Alony Hetz Properties & Investments Ltd. | 7,474 | 131 | ||||
* | Camtek Ltd. | 3,164 | 105 | |||
Danel Adir Yeoshua Ltd. | 456 | 99 | ||||
Harel Insurance Investments & Financial Services Ltd. | 7,808 | 95 | ||||
Sella Capital Real Estate Ltd. | 28,244 | 93 | ||||
Gav-Yam Lands Corp. Ltd. | 7,392 | 90 | ||||
Electra Ltd. | 118 | 88 | ||||
* | Shikun & Binui Ltd. | 13,816 | 84 | |||
AFI Properties Ltd. | 1,404 | 82 | ||||
* | Clal Insurance Enterprises Holdings Ltd. | 3,453 | 81 | |||
Strauss Group Ltd. | 2,397 | 79 | ||||
* | Partner Communications Co. Ltd. | 10,263 | 79 | |||
Maytronics Ltd. | 3,657 | 79 | ||||
Hilan Ltd. | 1,236 | 74 | ||||
* | Summit Real Estate Holdings Ltd. | 3,302 | 74 | |||
Big Shopping Centers Ltd. | 489 | 72 | ||||
Kenon Holdings Ltd. | 1,215 | 69 |
Shares | Market Value• ($000) | |||||
Matrix IT Ltd. | 2,289 | 62 | ||||
Shapir Engineering & Industry Ltd. | 6,114 | 60 | ||||
Delta Galil Industries Ltd. | 841 | 58 | ||||
Shufersal Ltd. | 6,508 | 58 | ||||
FIBI Holdings Ltd. | 1,143 | 54 | ||||
* | OPC Energy Ltd. | 4,796 | 54 | |||
* | Menora Mivtachim Holdings Ltd. | 2,250 | 53 | |||
AudioCodes Ltd. | 1,648 | 47 | ||||
* | Allot Ltd. | 5,846 | 47 | |||
Gazit-Globe Ltd. | 5,007 | 44 | ||||
* | Kamada Ltd. | 7,488 | 43 | |||
* | Cellcom Israel Ltd. | 8,441 | 43 | |||
Sapiens International Corp. NV | 1,510 | 41 | ||||
Formula Systems 1985 Ltd. | 398 | 40 | ||||
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. | 460 | 38 | ||||
Mega Or Holdings Ltd. | 623 | 25 | ||||
First International Bank of Israel Ltd. | 505 | 22 | ||||
IDI Insurance Co. Ltd. | 493 | 17 | ||||
Ashtrom Group Ltd. | 605 | 17 | ||||
* | Tera Light Ltd. | 8,076 | 17 | |||
* | Gilat Satellite Networks Ltd. | 1,872 | 15 | |||
16,585 | ||||||
Italy (1.3%) | ||||||
Intesa Sanpaolo SpA | 2,267,128 | 5,796 | ||||
Ferrari NV | 19,117 | 4,108 | ||||
UniCredit SpA | 317,772 | 4,015 | ||||
Stellantis NV | 209,875 | 3,814 | ||||
Moncler SpA | 39,544 | 2,375 | ||||
Terna - Rete Elettrica Nazionale | 281,605 | 2,307 | ||||
FinecoBank Banca Fineco SpA | 124,227 | 2,070 | ||||
Mediobanca Banca di Credito Finanziario SpA | 162,074 | 1,688 | ||||
Stellantis NV | 73,590 | 1,342 | ||||
*,2 | Nexi SpA | 82,275 | 1,124 | |||
Interpump Group SpA | 19,029 | 1,027 | ||||
* | Atlantia SpA | 55,251 | 1,016 | |||
Telecom Italia SpA (Bearer) | 2,346,018 | 974 | ||||
Banco BPM SpA | 256,201 | 879 | ||||
Amplifon SpA | 15,541 | 667 | ||||
Recordati Industria Chimica e Farmaceutica SpA | 13,555 | 663 | ||||
Reply SpA | 3,297 | 538 | ||||
DiaSorin SpA | 3,257 | 487 |
Shares | Market Value• ($000) | |||||
Banca Popolare di Sondrio SCPA | 115,338 | 455 | ||||
Azimut Holding SpA | 18,768 | 448 | ||||
2 | Pirelli & C SpA | 55,881 | 308 | |||
A2A SpA | 167,400 | 299 | ||||
* | Biesse SpA | 13,145 | 288 | |||
Falck Renewables SpA | 28,651 | 282 | ||||
2 | Poste Italiane SpA | 23,237 | 267 | |||
De' Longhi SpA | 7,546 | 239 | ||||
2 | Anima Holding SpA | 46,105 | 218 | |||
ERG SpA | 6,125 | 193 | ||||
Telecom Italia SpA (Registered) | 456,612 | 192 | ||||
2 | Infrastrutture Wireless Italiane SpA | 18,074 | 185 | |||
Banca IFIS SpA | 8,740 | 184 | ||||
2 | Carel Industries SpA | 7,446 | 182 | |||
Gruppo MutuiOnline SpA | 3,987 | 165 | ||||
Tinexta SpA | 5,052 | 162 | ||||
* | Arnoldo Mondadori Editore SpA | 73,257 | 161 | |||
Tamburi Investment Partners SpA | 15,502 | 150 | ||||
Sesa SpA | 932 | 149 | ||||
Italgas SpA | 22,082 | 143 | ||||
Rizzoli Corriere Della Sera Mediagroup SpA | 155,494 | 142 | ||||
2 | BFF Bank SpA | 19,355 | 139 | |||
Unipol Gruppo SpA | 26,897 | 137 | ||||
* | Brunello Cucinelli SpA | 2,376 | 133 | |||
* | Autogrill SpA | 16,360 | 124 | |||
DeA Capital SpA | 88,592 | 124 | ||||
3 | Maire Tecnimont SpA | 37,554 | 118 | |||
BPER Banca | 58,188 | 116 | ||||
* | Immobiliare Grande Distribuzione SIIQ SpA | 22,995 | 116 | |||
Hera SpA | 28,212 | 109 | ||||
2 | Technogym SpA | 13,177 | 104 | |||
Banca Mediolanum SpA | 11,580 | 95 | ||||
Banca Generali SpA | 2,385 | 88 | ||||
Buzzi Unicem SpA | 4,390 | 84 | ||||
Brembo SpA | 6,867 | 81 | ||||
2 | doValue SpA | 9,811 | 79 | |||
* | Salvatore Ferragamo SpA | 3,482 | 76 | |||
3 | Webuild SpA | 39,750 | 75 | |||
2 | GVS SpA | 6,699 | 67 | |||
Iren SpA | 20,803 | 59 | ||||
Credito Emiliano SpA | 6,294 | 45 | ||||
UnipolSai Assicurazioni SpA | 14,275 | 39 | ||||
*,2 | Enav SpA | 8,501 | 39 | |||
Datalogic SpA | 2,377 | 33 | ||||
MARR SpA | 1,358 | 25 | ||||
Italmobiliare SpA | 736 | 25 | ||||
Danieli & C Officine Meccaniche SpA | 1,043 | 24 |
Shares | Market Value• ($000) | |||||
* | Tod's SpA | 471 | 24 | |||
* | Societa Cattolica Di Assicurazione SpA | 3,772 | 23 | |||
* | CIR SpA-Compagnie Industriali | 48,772 | 22 | |||
Danieli & C Officine Meccaniche SpA Saving Shares | 1,406 | 22 | ||||
*,3 | Juventus Football Club SpA | 47,511 | 19 | |||
Piaggio & C SpA | 6,297 | 19 | ||||
2 | RAI Way SpA | 3,084 | 17 | |||
SOL SpA | 843 | 17 | ||||
Zignago Vetro SpA | 1,065 | 15 | ||||
*,3 | Banca Monte dei Paschi di Siena SpA | 11,008 | 11 | |||
Cementir Holding NV | 1,388 | 11 | ||||
* | Webuild SpA Warrants Exp. 8/2/30 | 3,597 | 2 | |||
* | Banca Popolare di Sondrio SCPA Rights Exp. 3/7/22 | 105,119 | — | |||
42,058 | ||||||
Japan (16.6%) | ||||||
Toyota Motor Corp. | 1,793,000 | 32,805 | ||||
Sony Group Corp. | 183,200 | 18,718 | ||||
Keyence Corp. | 24,300 | 11,494 | ||||
Mitsubishi UFJ Financial Group Inc. | 1,758,200 | 10,794 | ||||
Tokyo Electron Ltd. | 19,400 | 9,521 | ||||
SoftBank Group Corp. | 198,200 | 8,894 | ||||
Shin-Etsu Chemical Co. Ltd. | 55,300 | 8,637 | ||||
Recruit Holdings Co. Ltd. | 202,249 | 8,537 | ||||
KDDI Corp. | 249,800 | 8,129 | ||||
Honda Motor Co. Ltd. | 255,800 | 7,771 | ||||
Takeda Pharmaceutical Co. Ltd. | 235,157 | 7,170 | ||||
Hoya Corp. | 53,300 | 6,943 | ||||
Nintendo Co. Ltd. | 13,700 | 6,938 | ||||
Sumitomo Mitsui Financial Group Inc. | 195,300 | 6,926 | ||||
Daiichi Sankyo Co. Ltd. | 283,400 | 6,914 | ||||
Murata Manufacturing Co. Ltd. | 91,400 | 6,212 | ||||
FANUC Corp. | 32,600 | 5,989 | ||||
Tokio Marine Holdings Inc. | 103,300 | 5,878 | ||||
Seven & i Holdings Co. Ltd. | 120,600 | 5,868 | ||||
Nidec Corp. | 66,600 | 5,790 | ||||
Nippon Telegraph & Telephone Corp. | 183,100 | 5,262 | ||||
SoftBank Corp. | 404,943 | 5,116 | ||||
Mizuho Financial Group Inc. | 377,120 | 4,970 | ||||
Astellas Pharma Inc. | 293,600 | 4,898 |
Shares | Market Value• ($000) | |||||
Denso Corp. | 68,300 | 4,803 | ||||
Fujitsu Ltd. | 32,700 | 4,751 | ||||
Central Japan Railway Co. | 30,700 | 4,148 | ||||
SMC Corp. | 6,900 | 4,122 | ||||
ORIX Corp. | 201,700 | 3,998 | ||||
Canon Inc. | 165,800 | 3,902 | ||||
Bridgestone Corp. | 93,100 | 3,834 | ||||
Kao Corp. | 78,200 | 3,656 | ||||
Panasonic Corp. | 350,000 | 3,655 | ||||
Dai-ichi Life Holdings Inc. | 169,800 | 3,526 | ||||
Fast Retailing Co. Ltd. | 6,500 | 3,506 | ||||
Mitsui Fudosan Co. Ltd. | 155,100 | 3,452 | ||||
Chugai Pharmaceutical Co. Ltd. | 103,500 | 3,433 | ||||
Shiseido Co. Ltd. | 59,800 | 3,432 | ||||
Olympus Corp. | 168,200 | 3,416 | ||||
Terumo Corp. | 103,700 | 3,368 | ||||
FUJIFILM Holdings Corp. | 52,400 | 3,331 | ||||
Kubota Corp. | 182,600 | 3,276 | ||||
Shionogi & Co. Ltd. | 49,200 | 3,271 | ||||
Suzuki Motor Corp. | 78,900 | 3,142 | ||||
East Japan Railway Co. | 52,300 | 3,107 | ||||
Kyocera Corp. | 51,400 | 2,958 | ||||
Advantest Corp. | 36,700 | 2,949 | ||||
Daiwa House Industry Co. Ltd. | 103,700 | 2,941 | ||||
Mitsubishi Estate Co. Ltd. | 188,100 | 2,872 | ||||
Secom Co. Ltd. | 38,800 | 2,850 | ||||
Bandai Namco Holdings Inc. | 37,600 | 2,757 | ||||
Sysmex Corp. | 34,200 | 2,738 | ||||
Ajinomoto Co. Inc. | 92,900 | 2,707 | ||||
Aeon Co. Ltd. | 118,900 | 2,694 | ||||
* | Japan Post Holdings Co. Ltd. | 321,567 | 2,658 | |||
Sompo Holdings Inc. | 60,200 | 2,614 | ||||
MS&AD Insurance Group Holdings Inc. | 77,200 | 2,612 | ||||
Unicharm Corp. | 64,700 | 2,439 | ||||
M3 Inc. | 64,100 | 2,412 | ||||
Sumitomo Mitsui Trust Holdings Inc. | 67,700 | 2,406 | ||||
Omron Corp. | 34,800 | 2,368 | ||||
Nomura Holdings Inc. | 516,800 | 2,358 | ||||
Nitto Denko Corp. | 31,900 | 2,328 | ||||
NTT Data Corp. | 118,400 | 2,249 | ||||
Eisai Co. Ltd. | 44,800 | 2,223 | ||||
Ono Pharmaceutical Co. Ltd. | 89,400 | 2,201 | ||||
Toyota Industries Corp. | 28,500 | 2,168 | ||||
Asahi Kasei Corp. | 227,300 | 2,133 | ||||
Resona Holdings Inc. | 476,750 | 2,132 | ||||
Sekisui House Ltd. | 102,800 | 2,096 |
Shares | Market Value• ($000) | |||||
Sumitomo Electric Industries Ltd. | 156,400 | 2,076 | ||||
Shimano Inc. | 8,800 | 2,049 | ||||
Z Holdings Corp. | 416,900 | 2,041 | ||||
Sumitomo Realty & Development Co. Ltd. | 68,900 | 2,027 | ||||
Lasertec Corp. | 10,800 | 2,002 | ||||
Yaskawa Electric Corp. | 49,900 | 1,998 | ||||
NEC Corp. | 45,800 | 1,982 | ||||
Daiwa Securities Group Inc. | 324,400 | 1,918 | ||||
Dentsu Group Inc. | 47,800 | 1,907 | ||||
Japan Exchange Group Inc. | 99,300 | 1,859 | ||||
Shimadzu Corp. | 51,300 | 1,848 | ||||
West Japan Railway Co. | 42,751 | 1,844 | ||||
Yakult Honsha Co. Ltd. | 33,738 | 1,831 | ||||
Mitsubishi Chemical Holdings Corp. | 256,100 | 1,819 | ||||
* | Renesas Electronics Corp. | 153,477 | 1,808 | |||
MINEBEA MITSUMI Inc. | 76,800 | 1,686 | ||||
Sumitomo Chemical Co. Ltd. | 350,500 | 1,673 | ||||
TDK Corp. | 41,000 | 1,659 | ||||
T&D Holdings Inc. | 114,100 | 1,657 | ||||
Nomura Research Institute Ltd. | 46,300 | 1,625 | ||||
Toray Industries Inc. | 284,000 | 1,620 | ||||
Dai Nippon Printing Co. Ltd. | 60,400 | 1,577 | ||||
Aisin Corp. | 43,100 | 1,570 | ||||
TOTO Ltd. | 36,200 | 1,524 | ||||
MEIJI Holdings Co. Ltd. | 25,200 | 1,512 | ||||
SG Holdings Co. Ltd. | 71,334 | 1,512 | ||||
Nissan Chemical Corp. | 26,300 | 1,495 | ||||
Nexon Co. Ltd. | 67,300 | 1,470 | ||||
* | Nissan Motor Co. Ltd. | 303,800 | 1,449 | |||
Sekisui Chemical Co. Ltd. | 86,400 | 1,415 | ||||
Concordia Financial Group Ltd. | 345,000 | 1,404 | ||||
* | Kintetsu Group Holdings Co. Ltd. | 46,500 | 1,397 | |||
Toho Co. Ltd. (Tokyo) | 33,500 | 1,397 | ||||
Yamato Holdings Co. Ltd. | 69,100 | 1,357 | ||||
Makita Corp. | 37,900 | 1,351 | ||||
Pan Pacific International Holdings Corp. | 82,400 | 1,349 | ||||
Tokyu Corp. | 101,000 | 1,347 | ||||
Hamamatsu Photonics KK | 26,500 | 1,343 | ||||
SBI Holdings Inc. | 50,500 | 1,325 | ||||
Azbil Corp. | 34,700 | 1,317 | ||||
Kyowa Kirin Co. Ltd. | 51,300 | 1,313 | ||||
Isuzu Motors Ltd. | 96,600 | 1,306 | ||||
Brother Industries Ltd. | 71,500 | 1,301 | ||||
Taiyo Yuden Co. Ltd. | 28,600 | 1,293 |
Shares | Market Value• ($000) | |||||
Lixil Corp. | 57,800 | 1,288 | ||||
MISUMI Group Inc. | 40,100 | 1,286 | ||||
Nippon Paint Holdings Co. Ltd. | 141,913 | 1,270 | ||||
Chiba Bank Ltd. | 201,300 | 1,265 | ||||
Kuraray Co. Ltd. | 133,700 | 1,255 | ||||
Yamaha Motor Co. Ltd. | 55,400 | 1,245 | ||||
Odakyu Electric Railway Co. Ltd. | 74,300 | 1,226 | ||||
Tobu Railway Co. Ltd. | 49,200 | 1,209 | ||||
Shizuoka Bank Ltd. | 161,900 | 1,197 | ||||
Kurita Water Industries Ltd. | 28,400 | 1,174 | ||||
Oji Holdings Corp. | 229,400 | 1,172 | ||||
Mitsui Chemicals Inc. | 45,700 | 1,168 | ||||
Nippon Building Fund Inc. | 193 | 1,106 | ||||
Santen Pharmaceutical Co. Ltd. | 96,000 | 1,094 | ||||
Ricoh Co. Ltd. | 127,900 | 1,091 | ||||
Koito Manufacturing Co. Ltd. | 21,000 | 1,086 | ||||
Seiko Epson Corp. | 70,600 | 1,086 | ||||
NH Foods Ltd. | 28,400 | 1,066 | ||||
Haseko Corp. | 82,600 | 1,054 | ||||
Nitori Holdings Co. Ltd. | 6,900 | 1,038 | ||||
Ibiden Co. Ltd. | 21,200 | 1,035 | ||||
Aozora Bank Ltd. | 44,800 | 1,009 | ||||
Hisamitsu Pharmaceutical Co. Inc. | 31,200 | 997 | ||||
SUMCO Corp. | 58,700 | 980 | ||||
Stanley Electric Co. Ltd. | 40,600 | 965 | ||||
* | Mazda Motor Corp. | 123,300 | 912 | |||
Marui Group Co. Ltd. | 46,300 | 911 | ||||
Toyo Suisan Kaisha Ltd. | 21,500 | 904 | ||||
JSR Corp. | 28,700 | 903 | ||||
CyberAgent Inc. | 65,500 | 857 | ||||
Yamada Holdings Co. Ltd. | 242,300 | 841 | ||||
Keio Corp. | 20,200 | 827 | ||||
Nippon Prologis REIT Inc. | 279 | 820 | ||||
Nisshin Seifun Group Inc. | 56,800 | 806 | ||||
* | ANA Holdings Inc. | 36,441 | 802 | |||
Capcom Co. Ltd. | 32,800 | 796 | ||||
* | Skylark Holdings Co. Ltd. | 60,514 | 794 | |||
Iwatani Corp. | 16,600 | 789 | ||||
Nomura Real Estate Master Fund Inc. | 594 | 783 | ||||
Kaken Pharmaceutical Co. Ltd. | 21,200 | 779 | ||||
Bank of Kyoto Ltd. | 17,500 | 778 | ||||
Hulic Co. Ltd. | 84,670 | 771 | ||||
TIS Inc. | 31,600 | 748 | ||||
Food & Life Cos. Ltd. | 22,400 | 746 | ||||
Nikon Corp. | 70,700 | 739 | ||||
Air Water Inc. | 49,700 | 724 | ||||
* | Kawasaki Kisen Kaisha Ltd. | 10,200 | 719 |
Shares | Market Value• ($000) | |||||
Hankyu Hanshin Holdings Inc. | 24,000 | 718 | ||||
Fukuoka Financial Group Inc. | 35,800 | 706 | ||||
Showa Denko KK | 38,467 | 703 | ||||
Sohgo Security Services Co. Ltd. | 19,200 | 693 | ||||
NSK Ltd. | 107,300 | 692 | ||||
USS Co. Ltd. | 41,600 | 691 | ||||
Keihan Holdings Co. Ltd. | 25,700 | 686 | ||||
COMSYS Holdings Corp. | 28,100 | 680 | ||||
* | Japan Airlines Co. Ltd. | 34,123 | 677 | |||
* | Nagoya Railroad Co. Ltd. | 36,300 | 667 | |||
NGK Spark Plug Co. Ltd. | 36,800 | 663 | ||||
Nabtesco Corp. | 23,900 | 662 | ||||
MatsukiyoCocokara & Co. | 16,900 | 652 | ||||
BayCurrent Consulting Inc. | 1,600 | 640 | ||||
Daifuku Co. Ltd. | 8,500 | 615 | ||||
Toagosei Co. Ltd. | 64,700 | 615 | ||||
Teijin Ltd. | 49,600 | 597 | ||||
Japan Real Estate Investment Corp. | 111 | 593 | ||||
Otsuka Corp. | 15,000 | 583 | ||||
Taiheiyo Cement Corp. | 30,300 | 583 | ||||
Keikyu Corp. | 54,600 | 572 | ||||
Nihon M&A Center Holdings Inc. | 38,600 | 571 | ||||
Daito Trust Construction Co. Ltd. | 5,000 | 553 | ||||
Lintec Corp. | 24,600 | 548 | ||||
Asahi Intecc Co. Ltd. | 24,900 | 538 | ||||
* | Right On Co. Ltd. | 85,400 | 531 | |||
Hakuhodo DY Holdings Inc. | 39,300 | 522 | ||||
Sac's Bar Holdings Inc. | 116,100 | 521 | ||||
Sinanen Holdings Co. Ltd. | 17,100 | 515 | ||||
Persol Holdings Co. Ltd. | 22,800 | 511 | ||||
Disco Corp. | 1,800 | 510 | ||||
Lion Corp. | 37,600 | 493 | ||||
Alfresa Holdings Corp. | 31,600 | 486 | ||||
Anritsu Corp. | 34,100 | 479 | ||||
Konica Minolta Inc. | 112,800 | 478 | ||||
* | Seibu Holdings Inc. | 44,500 | 466 | |||
Zenkoku Hosho Co. Ltd. | 10,900 | 458 | ||||
Pigeon Corp. | 24,500 | 451 | ||||
Rohm Co. Ltd. | 5,600 | 447 | ||||
Alps Alpine Co. Ltd. | 43,600 | 438 | ||||
* | Fujita Kanko Inc. | 21,200 | 429 | |||
Zensho Holdings Co. Ltd. | 17,600 | 423 | ||||
Kansai Paint Co. Ltd. | 20,500 | 411 | ||||
Miura Co. Ltd. | 14,900 | 408 | ||||
Maruha Nichiro Corp. | 18,300 | 399 | ||||
Trend Micro Inc. | 7,000 | 391 |
Shares | Market Value• ($000) | |||||
Asics Corp. | 19,200 | 385 | ||||
Nifco Inc. | 13,200 | 375 | ||||
Amada Co. Ltd. | 40,600 | 360 | ||||
Daihen Corp. | 9,300 | 350 | ||||
Rohto Pharmaceutical Co. Ltd. | 10,300 | 345 | ||||
Nagase & Co. Ltd. | 21,500 | 344 | ||||
Wacoal Holdings Corp. | 19,900 | 342 | ||||
Sumitomo Dainippon Pharma Co. Ltd. | 31,100 | 341 | ||||
Nissin Foods Holdings Co. Ltd. | 4,200 | 336 | ||||
Hirose Electric Co. Ltd. | 2,200 | 331 | ||||
Kobayashi Pharmaceutical Co. Ltd. | 3,800 | 325 | ||||
Nippon Electric Glass Co. Ltd. | 13,300 | 320 | ||||
Tokyu Fudosan Holdings Corp. | 57,600 | 320 | ||||
GMO Payment Gateway Inc. | 3,300 | 319 | ||||
Fuyo General Lease Co. Ltd. | 4,800 | 314 | ||||
Daiwa House REIT Investment Corp. | 114 | 309 | ||||
Kewpie Corp. | 13,700 | 292 | ||||
TechnoPro Holdings Inc. | 9,900 | 287 | ||||
Denka Co. Ltd. | 9,300 | 286 | ||||
Kyushu Railway Co. | 12,600 | 279 | ||||
Kakaku.com Inc. | 12,500 | 275 | ||||
Casio Computer Co. Ltd. | 22,300 | 261 | ||||
PC Depot Corp. | 98,900 | 254 | ||||
DIC Corp. | 11,000 | 251 | ||||
Jeol Ltd. | 4,300 | 251 | ||||
SCREEN Holdings Co. Ltd. | 2,500 | 247 | ||||
Kagome Co. Ltd. | 9,200 | 246 | ||||
ZOZO Inc. | 8,100 | 231 | ||||
Benesse Holdings Inc. | 11,300 | 230 | ||||
Nippon Express Holdings Inc. | 3,800 | 230 | ||||
OKUMA Corp. | 5,500 | 224 | ||||
Japan Prime Realty Investment Corp. | 67 | 218 | ||||
Taisho Pharmaceutical Holdings Co. Ltd. | 4,400 | 218 | ||||
Welcia Holdings Co. Ltd. | 8,100 | 216 | ||||
Advance Residence Investment Corp. | 75 | 210 | ||||
Nippon Shinyaku Co. Ltd. | 3,200 | 208 | ||||
Orix JREIT Inc. | 143 | 200 | ||||
INFRONEER Holdings Inc. | 22,508 | 200 | ||||
Open House Group Co. Ltd. | 4,300 | 196 | ||||
Kose Corp. | 1,700 | 195 | ||||
Hoshizaki Corp. | 2,800 | 195 |
Shares | Market Value• ($000) | |||||
* | SHIFT Inc. | 1,000 | 194 | |||
Japan Post Bank Co. Ltd. | 21,400 | 188 | ||||
JP-Holdings Inc. | 97,900 | 188 | ||||
Industrial & Infrastructure Fund Investment Corp. | 124 | 187 | ||||
ADEKA Corp. | 8,000 | 186 | ||||
Kanamoto Co. Ltd. | 9,400 | 186 | ||||
Keisei Electric Railway Co. Ltd. | 6,500 | 182 | ||||
Shinko Electric Industries Co. Ltd. | 4,200 | 179 | ||||
Koei Tecmo Holdings Co. Ltd. | 5,140 | 178 | ||||
Japan Post Insurance Co. Ltd. | 10,339 | 177 | ||||
Hikari Tsushin Inc. | 1,400 | 174 | ||||
Mochida Pharmaceutical Co. Ltd. | 5,100 | 170 | ||||
Tomy Co. Ltd. | 14,900 | 163 | ||||
Tokyo Century Corp. | 3,600 | 158 | ||||
Ito En Ltd. | 2,700 | 155 | ||||
Internet Initiative Japan Inc. | 4,700 | 151 | ||||
Oracle Corp. Japan | 2,100 | 150 | ||||
Kanamic Network Co. Ltd. | 37,000 | 149 | ||||
Yoshinoya Holdings Co. Ltd. | 7,100 | 148 | ||||
Nippon Sanso Holdings Corp. | 7,400 | 145 | ||||
THK Co. Ltd. | 6,300 | 145 | ||||
Isetan Mitsukoshi Holdings Ltd. | 17,600 | 142 | ||||
Rinnai Corp. | 1,700 | 140 | ||||
Tokyo Individualized Educational Institute Inc. | 27,000 | 140 | ||||
Mitsui High-Tec Inc. | 1,900 | 140 | ||||
Tokyo Ohka Kogyo Co. Ltd. | 2,200 | 140 | ||||
Tokyo Tatemono Co. Ltd. | 9,000 | 138 | ||||
Shinsei Bank Ltd. | 7,277 | 136 | ||||
Sumitomo Forestry Co. Ltd. | 7,000 | 135 | ||||
NET One Systems Co. Ltd. | 5,500 | 135 | ||||
Hino Motors Ltd. | 14,300 | 134 | ||||
Japan Best Rescue System Co. Ltd. | 14,200 | 134 | ||||
Mitsui Fudosan Logistics Park Inc. | 29 | 133 | ||||
Itochu Techno-Solutions Corp. | 5,000 | 130 | ||||
Nichirei Corp. | 5,800 | 128 | ||||
Kadokawa Corp. | 5,044 | 128 | ||||
EM Systems Co. Ltd. | 20,400 | 128 | ||||
Activia Properties Inc. | 37 | 126 |
Shares | Market Value• ($000) | |||||
Sekisui House Reit Inc. | 187 | 124 | ||||
Suzuken Co. Ltd. | 3,800 | 122 | ||||
Toyo Corp. | 12,900 | 122 | ||||
Artnature Inc. | 18,900 | 120 | ||||
Sharp Corp. | 12,000 | 113 | ||||
Tokai Carbon Co. Ltd. | 11,700 | 112 | ||||
J Front Retailing Co. Ltd. | 13,400 | 112 | ||||
Mebuki Financial Group Inc. | 47,800 | 112 | ||||
Goldwin Inc. | 2,100 | 111 | ||||
* | Leopalace21 Corp. | 62,100 | 111 | |||
Ulvac Inc. | 2,200 | 110 | ||||
Nippon Gas Co. Ltd. | 7,100 | 107 | ||||
Medipal Holdings Corp. | 5,800 | 106 | ||||
Nihon Kohden Corp. | 3,800 | 104 | ||||
Intage Holdings Inc. | 6,900 | 103 | ||||
Shimamura Co. Ltd. | 1,100 | 100 | ||||
Morinaga Milk Industry Co. Ltd. | 2,000 | 100 | ||||
Nippon Accommodations Fund Inc. | 19 | 100 | ||||
Hirogin Holdings Inc. | 16,900 | 100 | ||||
Fancl Corp. | 3,500 | 99 | ||||
Nihon Unisys Ltd. | 3,600 | 99 | ||||
House Foods Group Inc. | 3,800 | 98 | ||||
Nomura Real Estate Holdings Inc. | 3,900 | 97 | ||||
Dexerials Corp. | 3,400 | 97 | ||||
LITALICO Inc. | 3,800 | 95 | ||||
K's Holdings Corp. | 8,700 | 94 | ||||
Nankai Electric Railway Co. Ltd. | 4,600 | 94 | ||||
Calbee Inc. | 4,100 | 92 | ||||
Tokyo Seimitsu Co. Ltd. | 2,200 | 92 | ||||
Toyo Seikan Group Holdings Ltd. | 6,700 | 90 | ||||
Ain Holdings Inc. | 1,600 | 89 | ||||
Yamazaki Baking Co. Ltd. | 6,600 | 89 | ||||
Kenedix Office Investment Corp. | 15 | 89 | ||||
Kenedix Residential Next Investment Corp. | 54 | 89 | ||||
Comforia Residential REIT Inc. | 33 | 89 | ||||
Outsourcing Inc. | 7,100 | 88 | ||||
GMO internet Inc. | 3,800 | 87 | ||||
Mitsubishi HC Capital Inc. | 16,460 | 86 | ||||
Frontier Real Estate Investment Corp. | 21 | 86 | ||||
Pasona Group Inc. | 3,900 | 86 | ||||
EXEO Group Inc. | 4,100 | 85 | ||||
As One Corp. | 1,400 | 85 | ||||
Lawson Inc. | 2,000 | 83 | ||||
DeNA Co. Ltd. | 5,400 | 83 | ||||
SCSK Corp. | 4,800 | 82 |
Shares | Market Value• ($000) | |||||
Asahi Holdings Inc. | 4,100 | 80 | ||||
AEON REIT Investment Corp. | 64 | 80 | ||||
JTEKT Corp. | 9,100 | 79 | ||||
Topcon Corp. | 6,000 | 79 | ||||
Ezaki Glico Co. Ltd. | 2,300 | 78 | ||||
BeNext-Yumeshin Group Co. | 5,500 | 78 | ||||
Hachijuni Bank Ltd. | 20,300 | 77 | ||||
Mori Hills REIT Investment Corp. | 64 | 77 | ||||
JAFCO Group Co. Ltd. | 5,100 | 77 | ||||
Systena Corp. | 20,800 | 76 | ||||
Nagawa Co. Ltd. | 900 | 76 | ||||
Sugi Holdings Co. Ltd. | 1,300 | 74 | ||||
Hitachi Transport System Ltd. | 1,400 | 74 | ||||
Ushio Inc. | 4,500 | 74 | ||||
ST Corp. | 5,500 | 74 | ||||
* | Fujikura Ltd. | 13,500 | 73 | |||
Hokkan Holdings Ltd. | 6,000 | 73 | ||||
KFC Holdings Japan Ltd. | 2,900 | 73 | ||||
Sanken Electric Co. Ltd. | 1,600 | 73 | ||||
Monex Group Inc. | 16,000 | 73 | ||||
Dowa Holdings Co. Ltd. | 1,600 | 72 | ||||
Daiseki Co. Ltd. | 1,680 | 68 | ||||
Hulic Reit Inc. | 50 | 68 | ||||
Nippon Kanzai Co. Ltd. | 2,700 | 67 | ||||
Nishi-Nippon Railroad Co. Ltd. | 2,900 | 66 | ||||
Sanwa Holdings Corp. | 5,900 | 66 | ||||
Kyushu Financial Group Inc. | 18,500 | 66 | ||||
Heiwa Real Estate REIT Inc. | 55 | 66 | ||||
AEON Financial Service Co. Ltd. | 6,300 | 65 | ||||
* | Mitsubishi Motors Corp. | 24,900 | 65 | |||
Zeon Corp. | 5,500 | 65 | ||||
Kureha Corp. | 800 | 64 | ||||
Hazama Ando Corp. | 7,900 | 64 | ||||
FP Corp. | 2,200 | 63 | ||||
Nippon Shokubai Co. Ltd. | 1,300 | 63 | ||||
* | Park24 Co. Ltd. | 4,200 | 63 | |||
JCR Pharmaceuticals Co. Ltd. | 3,300 | 63 | ||||
Mitsubishi Estate Logistics REIT Investment Corp. | 17 | 63 | ||||
Chugoku Bank Ltd. | 7,900 | 62 | ||||
Iyo Bank Ltd. | 11,600 | 62 | ||||
Seino Holdings Co. Ltd. | 5,900 | 62 | ||||
Aica Kogyo Co. Ltd. | 2,200 | 62 | ||||
Maruichi Steel Tube Ltd. | 2,500 | 62 | ||||
Daido Steel Co. Ltd. | 1,700 | 61 | ||||
H.U. Group Holdings Inc. | 2,300 | 61 |
Shares | Market Value• ($000) | |||||
Yamaguchi Financial Group Inc. | 9,900 | 61 | ||||
Ichiyoshi Securities Co. Ltd. | 10,600 | 60 | ||||
Shoei Co. Ltd. | 1,500 | 60 | ||||
Mabuchi Motor Co. Ltd. | 1,700 | 59 | ||||
Kenko Mayonnaise Co. Ltd. | 4,800 | 59 | ||||
Meitec Corp. | 1,000 | 59 | ||||
NOK Corp. | 5,500 | 58 | ||||
NEC Networks & System Integration Corp. | 3,800 | 58 | ||||
Japan Excellent Inc. | 52 | 58 | ||||
Mirai Corp. | 135 | 58 | ||||
Star Asia Investment Corp. | 114 | 58 | ||||
Cybozu Inc. | 4,700 | 57 | ||||
Studio Alice Co. Ltd. | 3,000 | 57 | ||||
Katitas Co. Ltd. | 1,800 | 57 | ||||
Kenedix Retail REIT Corp. | 25 | 57 | ||||
Digital Garage Inc. | 1,600 | 56 | ||||
* | Sagami Holdings Corp. | 5,400 | 56 | |||
Furukawa Electric Co. Ltd. | 2,800 | 55 | ||||
One REIT Inc. | 22 | 55 | ||||
Heiwa Real Estate Co. Ltd. | 1,500 | 54 | ||||
Acom Co. Ltd. | 19,000 | 53 | ||||
Toyo Tire Corp. | 4,000 | 53 | ||||
Daicel Corp. | 6,800 | 52 | ||||
Fuji Oil Holdings Inc. | 2,700 | 52 | ||||
Morinaga & Co. Ltd. | 1,600 | 52 | ||||
GS Yuasa Corp. | 2,400 | 52 | ||||
* | Toho Co. Ltd. (Kobe) | 5,700 | 52 | |||
Menicon Co. Ltd. | 2,000 | 52 | ||||
Hankyu Hanshin REIT Inc. | 41 | 52 | ||||
Sawai Group Holdings Co. Ltd. | 1,300 | 52 | ||||
CKD Corp. | 2,900 | 51 | ||||
Sanrio Co. Ltd. | 2,500 | 51 | ||||
Izumi Co. Ltd. | 1,800 | 50 | ||||
Nippon Kayaku Co. Ltd. | 5,000 | 50 | ||||
OSG Corp. | 3,000 | 50 | ||||
Seven Bank Ltd. | 23,500 | 50 | ||||
Rengo Co. Ltd. | 6,700 | 50 | ||||
NIPPON REIT Investment Corp. | 16 | 50 | ||||
Takashimaya Co. Ltd. | 5,000 | 49 | ||||
UT Group Co. Ltd. | 1,600 | 49 | ||||
MOS Food Services Inc. | 1,800 | 48 | ||||
Rock Field Co. Ltd. | 3,500 | 48 | ||||
Gunma Bank Ltd. | 14,300 | 47 | ||||
DMG Mori Co. Ltd. | 3,400 | 47 | ||||
Nishimatsu Construction Co. Ltd. | 1,425 | 47 |
Shares | Market Value• ($000) | |||||
Optex Group Co. Ltd. | 3,200 | 47 | ||||
Nextage Co. Ltd. | 2,200 | 47 | ||||
Daiichikosho Co. Ltd. | 1,500 | 46 | ||||
Kaneka Corp. | 1,400 | 46 | ||||
Aeon Mall Co. Ltd. | 3,300 | 46 | ||||
Pola Orbis Holdings Inc. | 2,900 | 46 | ||||
Feed One Co. Ltd. | 7,780 | 46 | ||||
Ichigo Office REIT Investment Corp. | 62 | 45 | ||||
Itochu Advance Logistics Investment Corp. | 35 | 45 | ||||
* | SRE Holdings Corp. | 1,400 | 45 | |||
Midac Holdings Co. Ltd. | 2,200 | 45 | ||||
Sotetsu Holdings Inc. | 2,300 | 44 | ||||
Takara Bio Inc. | 2,100 | 44 | ||||
TS Tech Co. Ltd. | 3,200 | 43 | ||||
Shiga Bank Ltd. | 2,200 | 43 | ||||
Daishi Hokuetsu Financial Group Inc. | 1,800 | 42 | ||||
Hokkoku Financial Holdings Inc. | 1,600 | 42 | ||||
77 Bank Ltd. | 3,000 | 41 | ||||
Colowide Co. Ltd. | 2,700 | 41 | ||||
Ichibanya Co. Ltd. | 1,000 | 41 | ||||
Kokuyo Co. Ltd. | 2,900 | 41 | ||||
Mirait Holdings Corp. | 2,400 | 41 | ||||
Aiful Corp. | 12,400 | 40 | ||||
en Japan Inc. | 1,500 | 40 | ||||
Nichicon Corp. | 3,800 | 40 | ||||
Nitto Boseki Co. Ltd. | 1,500 | 40 | ||||
Fujitsu General Ltd. | 1,800 | 39 | ||||
Information Services International-Dentsu Ltd. | 1,200 | 39 | ||||
Fuji Soft Inc. | 800 | 39 | ||||
Iriso Electronics Co. Ltd. | 1,100 | 39 | ||||
Mitsuuroko Group Holdings Co. Ltd. | 4,100 | 39 | ||||
Monogatari Corp. | 700 | 39 | ||||
* | MedPeer Inc. | 1,400 | 39 | |||
Sankyu Inc. | 1,100 | 38 | ||||
Sumitomo Rubber Industries Ltd. | 3,900 | 38 | ||||
Toyoda Gosei Co. Ltd. | 2,000 | 38 | ||||
Megachips Corp. | 1,200 | 38 | ||||
Japan Securities Finance Co. Ltd. | 4,700 | 38 | ||||
Riken Keiki Co. Ltd. | 900 | 38 | ||||
San-In Godo Bank Ltd. | 6,400 | 38 | ||||
Sumitomo Bakelite Co. Ltd. | 900 | 38 | ||||
Juroku Financial Group Inc. | 1,800 | 38 | ||||
Musashi Seimitsu Industry Co. Ltd. | 2,400 | 37 | ||||
Milbon Co. Ltd. | 700 | 37 |
Shares | Market Value• ($000) | |||||
KOMEDA Holdings Co. Ltd. | 2,000 | 37 | ||||
Mori Trust Hotel Reit Inc. | 35 | 37 | ||||
Citizen Watch Co. Ltd. | 8,300 | 36 | ||||
Hioki EE Corp. | 600 | 36 | ||||
Organo Corp. | 500 | 36 | ||||
Nojima Corp. | 1,600 | 36 | ||||
Daio Paper Corp. | 2,400 | 36 | ||||
Toridoll Holdings Corp. | 1,700 | 36 | ||||
* | RENOVA Inc. | 2,900 | 36 | |||
Ariake Japan Co. Ltd. | 700 | 35 | ||||
Toyobo Co. Ltd. | 3,200 | 35 | ||||
Yokohama Rubber Co. Ltd. | 2,500 | 35 | ||||
Fuji Seal International Inc. | 2,200 | 35 | ||||
Kiyo Bank Ltd. | 2,700 | 35 | ||||
Kohnan Shoji Co. Ltd. | 1,100 | 35 | ||||
Nisshin Oillio Group Ltd. | 1,300 | 35 | ||||
NHK Spring Co. Ltd. | 4,300 | 34 | ||||
Awa Bank Ltd. | 1,700 | 34 | ||||
Kyokuyo Co. Ltd. | 1,200 | 34 | ||||
Bank of Nagoya Ltd. | 1,300 | 34 | ||||
Ogaki Kyoritsu Bank Ltd. | 1,900 | 34 | ||||
Takuma Co. Ltd. | 2,700 | 34 | ||||
Yaoko Co. Ltd. | 600 | 34 | ||||
Japan Material Co. Ltd. | 2,300 | 34 | ||||
Mitsubishi Logistics Corp. | 1,400 | 33 | ||||
Toyota Boshoku Corp. | 1,800 | 33 | ||||
Transcosmos Inc. | 1,200 | 33 | ||||
Gree Inc. | 4,000 | 33 | ||||
Nippon Light Metal Holdings Co. Ltd. | 2,090 | 33 | ||||
Resorttrust Inc. | 1,900 | 32 | ||||
Aiphone Co. Ltd. | 1,700 | 32 | ||||
ASKUL Corp. | 2,200 | 32 | ||||
Toyo Ink SC Holdings Co. Ltd. | 1,900 | 32 | ||||
S-Pool Inc. | 3,600 | 32 | ||||
Joyful Honda Co. Ltd. | 2,300 | 32 | ||||
Fujimori Kogyo Co. Ltd. | 900 | 31 | ||||
Kyudenko Corp. | 1,100 | 30 | ||||
Kisoji Co. Ltd. | 1,600 | 30 | ||||
Tadano Ltd. | 3,500 | 30 | ||||
Tokai Tokyo Financial Holdings Inc. | 8,000 | 29 | ||||
Kurimoto Ltd. | 2,200 | 29 | ||||
* | Royal Holdings Co. Ltd. | 1,700 | 29 | |||
Tokuyama Corp. | 1,900 | 29 | ||||
RS Technologies Co. Ltd. | 600 | 29 | ||||
Oro Co. Ltd. | 1,400 | 29 | ||||
Nisshinbo Holdings Inc. | 3,200 | 28 | ||||
Tokyo Electron Device Ltd. | 600 | 28 | ||||
Create Restaurants Holdings Inc. | 4,500 | 28 |
Shares | Market Value• ($000) | |||||
ValueCommerce Co. Ltd. | 900 | 28 | ||||
Anicom Holdings Inc. | 4,400 | 28 | ||||
Paramount Bed Holdings Co. Ltd. | 1,600 | 28 | ||||
Insource Co. Ltd. | 1,600 | 28 | ||||
Glory Ltd. | 1,500 | 27 | ||||
Nipro Corp. | 2,800 | 27 | ||||
Shinwa Co. Ltd. | 1,600 | 27 | ||||
Hiday Hidaka Corp. | 1,700 | 27 | ||||
Ines Corp. | 2,000 | 27 | ||||
Sumitomo Osaka Cement Co. Ltd. | 900 | 27 | ||||
TKC Corp. | 1,000 | 27 | ||||
Megmilk Snow Brand Co. Ltd. | 1,500 | 26 | ||||
Kintetsu World Express Inc. | 1,000 | 26 | ||||
Okamura Corp. | 2,500 | 26 | ||||
Okura Industrial Co. Ltd. | 1,600 | 26 | ||||
Tsubakimoto Chain Co. | 900 | 26 | ||||
Canon Marketing Japan Inc. | 1,200 | 25 | ||||
Chuo Spring Co. Ltd. | 3,600 | 25 | ||||
Fujibo Holdings Inc. | 800 | 25 | ||||
Fuso Pharmaceutical Industries Ltd. | 1,200 | 25 | ||||
Key Coffee Inc. | 1,400 | 25 | ||||
Nomura Co. Ltd. | 3,100 | 25 | ||||
Ringer Hut Co. Ltd. | 1,300 | 25 | ||||
Ryoyo Electro Corp. | 1,300 | 25 | ||||
Valor Holdings Co. Ltd. | 1,300 | 25 | ||||
TOKAI Holdings Corp. | 3,100 | 25 | ||||
Okinawa Financial Group Inc. | 1,200 | 25 | ||||
Fujiya Co. Ltd. | 1,100 | 24 | ||||
Fukui Bank Ltd. | 1,900 | 24 | ||||
Shizuoka Gas Co. Ltd. | 3,200 | 24 | ||||
Kumiai Chemical Industry Co. Ltd. | 3,400 | 24 | ||||
Saibu Gas Holdings Co. Ltd. | 1,200 | 24 | ||||
Seiren Co. Ltd. | 1,200 | 24 | ||||
North Pacific Bank Ltd. | 10,800 | 24 | ||||
Japan Lifeline Co. Ltd. | 2,400 | 23 | ||||
Toho Holdings Co. Ltd. | 1,400 | 23 | ||||
Tsugami Corp. | 2,100 | 23 | ||||
Japan Aviation Electronics Industry Ltd. | 1,400 | 22 | ||||
* | NTN Corp. | 11,400 | 22 | |||
Joshin Denki Co. Ltd. | 1,200 | 22 | ||||
Tocalo Co. Ltd. | 1,900 | 22 | ||||
Riken Technos Corp. | 5,300 | 22 | ||||
Ryoden Corp. | 1,400 | 22 | ||||
San-Ai Oil Co. Ltd. | 2,600 | 22 | ||||
Taikisha Ltd. | 800 | 22 |
Shares | Market Value• ($000) | |||||
Torishima Pump Manufacturing Co. Ltd. | 2,600 | 22 | ||||
Yokowo Co. Ltd. | 900 | 22 | ||||
Maruwa Unyu Kikan Co. Ltd. | 2,400 | 22 | ||||
KH Neochem Co. Ltd. | 900 | 22 | ||||
CRE Logistics REIT Inc. | 13 | 22 | ||||
Aichi Bank Ltd. | 500 | 21 | ||||
Funai Soken Holdings Inc. | 1,100 | 21 | ||||
Infocom Corp. | 1,200 | 21 | ||||
Toshiba TEC Corp. | 500 | 21 | ||||
KYORIN Holdings Inc. | 1,300 | 21 | ||||
Itoham Yonekyu Holdings Inc. | 3,400 | 20 | ||||
* | Atom Corp. | 3,000 | 20 | |||
Belluna Co. Ltd. | 3,100 | 20 | ||||
Furuno Electric Co. Ltd. | 2,200 | 20 | ||||
Ichikoh Industries Ltd. | 4,600 | 20 | ||||
Kyodo Printing Co. Ltd. | 800 | 20 | ||||
CMIC Holdings Co. Ltd. | 1,500 | 20 | ||||
Mitsubishi Pencil Co. Ltd. | 1,800 | 20 | ||||
Noritake Co. Ltd. | 500 | 20 | ||||
Nissin Corp. | 1,300 | 20 | ||||
Okasan Securities Group Inc. | 5,900 | 20 | ||||
Shinko Shoji Co. Ltd. | 2,400 | 20 | ||||
MCJ Co. Ltd. | 2,300 | 20 | ||||
Earth Corp. | 400 | 20 | ||||
* | Istyle Inc. | 12,200 | 20 | |||
TechMatrix Corp. | 1,300 | 20 | ||||
Nishi-Nippon Financial Holdings Inc. | 2,700 | 19 | ||||
Daiwabo Holdings Co. Ltd. | 1,200 | 19 | ||||
Roland DG Corp. | 700 | 19 | ||||
Eizo Corp. | 600 | 19 | ||||
Mitsui-Soko Holdings Co. Ltd. | 900 | 19 | ||||
Nanto Bank Ltd. | 1,000 | 19 | ||||
Nippon Seiki Co. Ltd. | 2,300 | 19 | ||||
Showa Sangyo Co. Ltd. | 800 | 19 | ||||
Restar Holdings Corp. | 1,100 | 19 | ||||
Nippon Paper Industries Co. Ltd. | 1,900 | 18 | ||||
Fujimi Inc. | 300 | 18 | ||||
Mandom Corp. | 1,500 | 18 | ||||
Nippon Densetsu Kogyo Co. Ltd. | 1,300 | 18 | ||||
Riso Kagaku Corp. | 900 | 18 | ||||
Sanyo Denki Co. Ltd. | 400 | 18 | ||||
Topre Corp. | 1,700 | 18 | ||||
* | UACJ Corp. | 900 | 18 | |||
Daito Pharmaceutical Co. Ltd. | 700 | 18 | ||||
Bell System24 Holdings Inc. | 1,500 | 18 |
Shares | Market Value• ($000) | |||||
Exedy Corp. | 1,200 | 17 | ||||
Okumura Corp. | 600 | 17 | ||||
Aomori Bank Ltd. | 1,000 | 17 | ||||
Argo Graphics Inc. | 600 | 17 | ||||
Future Corp. | 1,400 | 17 | ||||
Hanwa Co. Ltd. | 600 | 17 | ||||
Keihanshin Building Co. Ltd. | 1,300 | 17 | ||||
Achilles Corp. | 1,500 | 17 | ||||
Musashino Bank Ltd. | 1,000 | 17 | ||||
Nagaileben Co. Ltd. | 900 | 17 | ||||
Nihon Parkerizing Co. Ltd. | 2,000 | 17 | ||||
Nippon Suisan Kaisha Ltd. | 3,600 | 17 | ||||
Nissha Co. Ltd. | 1,500 | 17 | ||||
Nippon Thompson Co. Ltd. | 3,600 | 17 | ||||
Senko Group Holdings Co. Ltd. | 2,100 | 17 | ||||
Sumitomo Warehouse Co. Ltd. | 900 | 17 | ||||
Totetsu Kogyo Co. Ltd. | 800 | 17 | ||||
Toyo Kanetsu KK | 800 | 17 | ||||
Japan Transcity Corp. | 3,200 | 17 | ||||
JCU Corp. | 400 | 17 | ||||
Macromill Inc. | 1,700 | 17 | ||||
KeePer Technical Laboratory Co. Ltd. | 900 | 17 | ||||
Alpha Systems Inc. | 500 | 16 | ||||
United Arrows Ltd. | 1,100 | 16 | ||||
Chuetsu Pulp & Paper Co. Ltd. | 1,900 | 16 | ||||
Enplas Corp. | 700 | 16 | ||||
* | Descente Ltd. | 600 | 16 | |||
Adastria Co. Ltd. | 1,100 | 16 | ||||
Fuso Chemical Co. Ltd. | 400 | 16 | ||||
Kato Sangyo Co. Ltd. | 600 | 16 | ||||
Koa Corp. | 1,300 | 16 | ||||
Mizuno Corp. | 800 | 16 | ||||
Noritsu Koki Co. Ltd. | 900 | 16 | ||||
Ryosan Co. Ltd. | 800 | 16 | ||||
Tochigi Bank Ltd. | 8,000 | 16 | ||||
Yonex Co. Ltd. | 2,000 | 16 | ||||
Koshidaka Holdings Co. Ltd. | 2,800 | 16 | ||||
* | Vision Inc. | 1,600 | 16 | |||
SB Technology Corp. | 700 | 16 | ||||
Fujio Food Group Inc. | 1,400 | 16 | ||||
Maxvalu Tokai Co. Ltd. | 700 | 16 | ||||
ASKA Pharmaceutical Holdings Co. Ltd. | 1,600 | 16 | ||||
IDOM Inc. | 2,700 | 15 | ||||
Cosel Co. Ltd. | 2,100 | 15 | ||||
Geo Holdings Corp. | 1,100 | 15 | ||||
Matsuda Sangyo Co. Ltd. | 700 | 15 |
Shares | Market Value• ($000) | |||||
Mitsubishi Logisnext Co. Ltd. | 1,900 | 15 | ||||
Nitta Corp. | 600 | 15 | ||||
Pacific Metals Co. Ltd. | 500 | 15 | ||||
NS United Kaiun Kaisha Ltd. | 400 | 15 | ||||
Yokogawa Bridge Holdings Corp. | 800 | 15 | ||||
Mori Trust Sogo Reit Inc. | 12 | 14 | ||||
Happinet Corp. | 1,000 | 14 | ||||
Keiyo Bank Ltd. | 3,100 | 14 | ||||
Hokuto Corp. | 800 | 14 | ||||
Komatsu Matere Co. Ltd. | 1,200 | 14 | ||||
Maruzen Showa Unyu Co. Ltd. | 500 | 14 | ||||
Oiles Corp. | 1,000 | 14 | ||||
Tachibana Eletech Co. Ltd. | 1,000 | 14 | ||||
Yodogawa Steel Works Ltd. | 600 | 14 | ||||
Mizuho Leasing Co. Ltd. | 500 | 14 | ||||
Takamiya Co. Ltd. | 4,200 | 14 | ||||
Create SD Holdings Co. Ltd. | 500 | 14 | ||||
* | Open Door Inc. | 800 | 14 | |||
* | giftee Inc. | 1,900 | 14 | |||
Autobacs Seven Co. Ltd. | 1,000 | 13 | ||||
* | CMK Corp. | 2,400 | 13 | |||
Ehime Bank Ltd. | 1,600 | 13 | ||||
Kaga Electronics Co. Ltd. | 500 | 13 | ||||
Marudai Food Co. Ltd. | 1,000 | 13 | ||||
Nichi-iko Pharmaceutical Co. Ltd. | 1,700 | 13 | ||||
Noritz Corp. | 1,000 | 13 | ||||
Hyakugo Bank Ltd. | 4,200 | 13 | ||||
SWCC Showa Holdings Co. Ltd. | 800 | 13 | ||||
Takihyo Co. Ltd. | 1,200 | 13 | ||||
Kyokuto Securities Co. Ltd. | 2,000 | 13 | ||||
JAC Recruitment Co. Ltd. | 800 | 13 | ||||
TOMONY Holdings Inc. | 4,400 | 13 | ||||
Avex Inc. | 1,000 | 12 | ||||
BML Inc. | 400 | 12 | ||||
Eiken Chemical Co. Ltd. | 800 | 12 | ||||
Valqua Ltd. | 500 | 12 | ||||
Dip Corp. | 400 | 12 | ||||
Takasago Thermal Engineering Co. Ltd. | 700 | 12 | ||||
* | WATAMI Co. Ltd. | 1,500 | 12 | |||
Duskin Co. Ltd. | 500 | 12 | ||||
Tokushu Tokai Paper Co. Ltd. | 400 | 12 | ||||
Proto Corp. | 1,200 | 12 | ||||
Bank of Saga Ltd. | 800 | 11 | ||||
Teikoku Electric Manufacturing Co. Ltd. | 900 | 11 |
Shares | Market Value• ($000) | |||||
Daiichi Jitsugyo Co. Ltd. | 300 | 11 | ||||
Elematec Corp. | 1,200 | 11 | ||||
Hodogaya Chemical Co. Ltd. | 300 | 11 | ||||
Idec Corp. | 500 | 11 | ||||
* | Nippon Chemi-Con Corp. | 700 | 11 | |||
Nissin Electric Co. Ltd. | 900 | 11 | ||||
Nippon Koei Co. Ltd. | 400 | 11 | ||||
Hyakujushi Bank Ltd. | 700 | 11 | ||||
Shikoku Bank Ltd. | 1,600 | 11 | ||||
Shibuya Corp. | 500 | 11 | ||||
Shimizu Bank Ltd. | 800 | 11 | ||||
Shin Nippon Air Technologies Co. Ltd. | 600 | 11 | ||||
Taiyo Holdings Co. Ltd. | 400 | 11 | ||||
Shibaura Machine Co. Ltd. | 400 | 11 | ||||
Starzen Co. Ltd. | 600 | 11 | ||||
World Holdings Co. Ltd. | 600 | 11 | ||||
Ohara Inc. | 1,100 | 11 | ||||
Alpen Co. Ltd. | 600 | 11 | ||||
Linical Co. Ltd. | 1,900 | 11 | ||||
Broadleaf Co. Ltd. | 3,600 | 11 | ||||
San ju San Financial Group Inc. | 800 | 11 | ||||
Nippon Rietec Co. Ltd. | 900 | 11 | ||||
Belc Co. Ltd. | 200 | 10 | ||||
Fukushima Galilei Co. Ltd. | 300 | 10 | ||||
Miyazaki Bank Ltd. | 500 | 10 | ||||
Kyokuto Kaihatsu Kogyo Co. Ltd. | 800 | 10 | ||||
Kyosan Electric Manufacturing Co. Ltd. | 2,800 | 10 | ||||
Halows Co. Ltd. | 400 | 10 | ||||
Matsuyafoods Holdings Co. Ltd. | 300 | 10 | ||||
Nichiden Corp. | 500 | 10 | ||||
Okamoto Industries Inc. | 300 | 10 | ||||
Tosei Corp. | 1,100 | 10 | ||||
Sumida Corp. | 1,300 | 10 | ||||
Tachi-S Co. Ltd. | 1,000 | 10 | ||||
Pack Corp. | 400 | 10 | ||||
Toho Bank Ltd. | 5,700 | 10 | ||||
Union Tool Co. | 300 | 10 | ||||
Yushin Precision Equipment Co. Ltd. | 1,700 | 10 | ||||
Zojirushi Corp. | 800 | 10 | ||||
YAMABIKO Corp. | 900 | 10 | ||||
Moriroku Holdings Co. Ltd. | 600 | 10 | ||||
Japan Medical Dynamic Marketing Inc. | 700 | 10 | ||||
Matsui Securities Co. Ltd. | 1,300 | 9 | ||||
SKY Perfect JSAT Holdings Inc. | 2,300 | 9 |
Shares | Market Value• ($000) | |||||
Relia Inc. | 1,000 | 9 | ||||
DyDo Group Holdings Inc. | 200 | 9 | ||||
Axial Retailing Inc. | 300 | 9 | ||||
Hosokawa Micron Corp. | 400 | 9 | ||||
Piolax Inc. | 600 | 9 | ||||
Marvelous Inc. | 1,400 | 9 | ||||
Nichiha Corp. | 400 | 9 | ||||
Honeys Holdings Co. Ltd. | 1,000 | 9 | ||||
T-Gaia Corp. | 600 | 9 | ||||
Shima Seiki Manufacturing Ltd. | 600 | 9 | ||||
Toa Corp. | 400 | 9 | ||||
Towa Bank Ltd. | 1,700 | 9 | ||||
Tsurumi Manufacturing Co. Ltd. | 600 | 9 | ||||
Unipres Corp. | 1,400 | 9 | ||||
Mie Kotsu Group Holdings Inc. | 2,300 | 9 | ||||
Hirata Corp. | 200 | 9 | ||||
Senshu Ikeda Holdings Inc. | 5,700 | 9 | ||||
Nisso Corp. | 1,200 | 9 | ||||
ARTERIA Networks Corp. | 800 | 9 | ||||
* | TerraSky Co. Ltd. | 700 | 9 | |||
J Trust Co. Ltd. | 2,100 | 8 | ||||
Chugoku Marine Paints Ltd. | 1,000 | 8 | ||||
* | PIA Corp. | 300 | 8 | |||
Kansai Food Market Ltd. | 800 | 8 | ||||
* | KNT-CT Holdings Co. Ltd. | 600 | 8 | |||
Ichigo Inc. | 3,400 | 8 | ||||
Neturen Co. Ltd. | 1,500 | 8 | ||||
Nippon Signal Co. Ltd. | 1,000 | 8 | ||||
Okinawa Electric Power Co. Inc. | 630 | 8 | ||||
Prima Meat Packers Ltd. | 400 | 8 | ||||
Riken Vitamin Co. Ltd. | 500 | 8 | ||||
Sekisui Jushi Corp. | 500 | 8 | ||||
TPR Co. Ltd. | 700 | 8 | ||||
Towa Pharmaceutical Co. Ltd. | 300 | 8 | ||||
Uchida Yoko Co. Ltd. | 200 | 8 | ||||
Doutor Nichires Holdings Co. Ltd. | 600 | 8 | ||||
* | World Co. Ltd. | 700 | 8 | |||
Osaka Organic Chemical Industry Ltd. | 300 | 8 | ||||
Direct Marketing MiX Inc. | 600 | 8 | ||||
Advan Group Co. Ltd. | 800 | 7 | ||||
Central Glass Co. Ltd. | 400 | 7 | ||||
Chukyo Bank Ltd. | 500 | 7 | ||||
Dai Nippon Toryo Co. Ltd. | 1,000 | 7 | ||||
Daisyo Corp. | 800 | 7 | ||||
* | FDK Corp. | 1,000 | 7 | |||
Anest Iwata Corp. | 1,000 | 7 |
Shares | Market Value• ($000) | |||||
Kojima Co. Ltd. | 1,500 | 7 | ||||
Koatsu Gas Kogyo Co. Ltd. | 1,200 | 7 | ||||
Miroku Jyoho Service Co. Ltd. | 500 | 7 | ||||
Raito Kogyo Co. Ltd. | 400 | 7 | ||||
Tokai Corp. | 400 | 7 | ||||
* | CHIMNEY Co. Ltd. | 700 | 7 | |||
* | Japan Display Inc. | 19,700 | 7 | |||
Fixstars Corp. | 1,200 | 7 | ||||
MTI Ltd. | 1,400 | 6 | ||||
V Technology Co. Ltd. | 200 | 6 | ||||
Godo Steel Ltd. | 500 | 6 | ||||
PAL GROUP Holdings Co. Ltd. | 400 | 6 | ||||
Nippon Soda Co. Ltd. | 200 | 6 | ||||
Okuwa Co. Ltd. | 700 | 6 | ||||
Dai-Dan Co. Ltd. | 300 | 6 | ||||
Shinmaywa Industries Ltd. | 700 | 6 | ||||
Sinko Industries Ltd. | 400 | 6 | ||||
* | Gurunavi Inc. | 1,600 | 6 | |||
H2O Retailing Corp. | 700 | 5 | ||||
Orient Corp. | 5,000 | 5 | ||||
Chiyoda Integre Co. Ltd. | 300 | 5 | ||||
Kanematsu Corp. | 400 | 5 | ||||
Sumitomo Mitsui Construction Co. Ltd. | 1,300 | 5 | ||||
Oki Electric Industry Co. Ltd. | 700 | 5 | ||||
Ohsho Food Service Corp. | 100 | 5 | ||||
Digital Holdings Inc. | 400 | 5 | ||||
Toho Zinc Co. Ltd. | 200 | 5 | ||||
* | Akebono Brake Industry Co. Ltd. | 2,700 | 4 | |||
Computer Engineering & Consulting Ltd. | 400 | 4 | ||||
Gakken Holdings Co. Ltd. | 400 | 4 | ||||
Seiko Holdings Corp. | 200 | 4 | ||||
Kameda Seika Co. Ltd. | 100 | 4 | ||||
Nitto Kogyo Corp. | 300 | 4 | ||||
Pacific Industrial Co. Ltd. | 500 | 4 | ||||
Sangetsu Corp. | 300 | 4 | ||||
Sanoh Industrial Co. Ltd. | 600 | 4 | ||||
Taki Chemical Co. Ltd. | 100 | 4 | ||||
Solasto Corp. | 500 | 4 | ||||
Obara Group Inc. | 100 | 3 | ||||
Gunze Ltd. | 100 | 3 | ||||
* | Nippon Sheet Glass Co. Ltd. | 600 | 3 | |||
Press Kogyo Co. Ltd. | 1,000 | 3 | ||||
Yahagi Construction Co. Ltd. | 500 | 3 | ||||
KAWADA TECHNOLOGIES Inc. | 100 | 3 |
Shares | Market Value• ($000) | |||||
Sankyo Tateyama Inc. | 500 | 3 | ||||
Futaba Industrial Co. Ltd. | 500 | 2 | ||||
Riken Corp. | 100 | 2 | ||||
Tamron Co. Ltd. | 100 | 2 | ||||
Qol Holdings Co. Ltd. | 200 | 2 | ||||
528,132 | ||||||
Kuwait (0.2%) | ||||||
National Bank of Kuwait SAKP | 867,845 | 3,042 | ||||
Kuwait Finance House KSCP | 470,751 | 1,473 | ||||
Mobile Telecommunications Co. KSCP | 262,657 | 538 | ||||
Agility Public Warehousing Co. KSC | 155,051 | 528 | ||||
Mabanee Co. KPSC | 100,760 | 282 | ||||
Gulf Bank KSCP | 249,363 | 256 | ||||
* | National Industries Group Holding SAK | 228,221 | 218 | |||
* | Warba Bank KSCP | 203,045 | 186 | |||
* | Alimtiaz Investment Group KSC | 393,277 | 175 | |||
Burgan Bank SAK | 150,373 | 136 | ||||
Qurain Petrochemical Industries Co. | 66,443 | 86 | ||||
* | Kuwait International Bank KSCP | 100,405 | 77 | |||
* | Integrated Holding Co. KCSC | 46,810 | 60 | |||
* | Boubyan Bank KSCP | 18,984 | 52 | |||
7,109 | ||||||
Malaysia (0.6%) | ||||||
Public Bank Bhd. | 1,867,500 | 1,983 | ||||
Malayan Banking Bhd. | 750,500 | 1,568 | ||||
CIMB Group Holdings Bhd. | 790,000 | 1,076 | ||||
Tenaga Nasional Bhd. | 436,000 | 953 | ||||
Press Metal Aluminium Holdings Bhd. | 502,100 | 819 | ||||
Petronas Chemicals Group Bhd. | 303,100 | 691 | ||||
Sime Darby Plantation Bhd. | 411,000 | 482 | ||||
Axiata Group Bhd. | 503,300 | 471 | ||||
IHH Healthcare Bhd. | 276,900 | 434 | ||||
DiGi.Com Bhd. | 417,100 | 403 | ||||
Top Glove Corp. Bhd. | 786,000 | 384 | ||||
MISC Bhd. | 208,874 | 366 | ||||
IOI Corp. Bhd. | 314,300 | 345 | ||||
Maxis Bhd. | 325,400 | 312 | ||||
Hong Leong Bank Bhd. | 64,700 | 310 | ||||
My EG Services Bhd. | 1,276,300 | 293 | ||||
* | Malaysia Airports Holdings Bhd. | 195,100 | 286 | |||
TIME dotCom Bhd. | 273,500 | 277 |
Shares | Market Value• ($000) | |||||
Kuala Lumpur Kepong Bhd. | 44,700 | 277 | ||||
PPB Group Bhd. | 64,300 | 275 | ||||
Inari Amertron Bhd. | 354,500 | 275 | ||||
Hartalega Holdings Bhd. | 219,900 | 242 | ||||
AEON Credit Service M Bhd. | 65,700 | 230 | ||||
IGB REIT | 674,100 | 228 | ||||
* | AMMB Holdings Bhd. | 283,400 | 227 | |||
RHB Bank Bhd. | 157,300 | 222 | ||||
Gamuda Bhd. | 321,300 | 221 | ||||
Telekom Malaysia Bhd. | 178,782 | 216 | ||||
Alliance Bank Malaysia Bhd. | 261,000 | 214 | ||||
Nestle Malaysia Bhd. | 6,700 | 214 | ||||
Sunway Bhd. | 495,400 | 200 | ||||
Sime Darby Bhd. | 364,000 | 197 | ||||
Petronas Gas Bhd. | 44,300 | 184 | ||||
* | Capital A Bhd. | 1,150,900 | 172 | |||
Malaysian Pacific Industries Bhd. | 19,700 | 170 | ||||
IJM Corp. Bhd. | 456,800 | 168 | ||||
Pentamaster Corp. Bhd. | 213,950 | 167 | ||||
Mega First Corp. Bhd. | 187,000 | 158 | ||||
Bursa Malaysia Bhd. | 102,900 | 155 | ||||
Bermaz Auto Bhd. | 364,300 | 155 | ||||
Genting Plantations Bhd. | 70,100 | 152 | ||||
D&O Green Technologies Bhd. | 129,900 | 147 | ||||
QL Resources Bhd. | 121,100 | 143 | ||||
ViTrox Corp. Bhd. | 80,200 | 143 | ||||
2 | MR DIY Group M Bhd. | 160,800 | 139 | |||
FGV Holdings Bhd. | 271,200 | 132 | ||||
Padini Holdings Bhd. | 159,600 | 128 | ||||
Hong Leong Financial Group Bhd. | 26,900 | 124 | ||||
HAP Seng Consolidated Bhd. | 67,400 | 122 | ||||
KPJ Healthcare Bhd. | 474,900 | 118 | ||||
Scientex Bhd. | 111,400 | 118 | ||||
YTL Corp. Bhd. | 826,263 | 109 | ||||
Supermax Corp. Bhd. | 423,054 | 106 | ||||
Westports Holdings Bhd. | 114,100 | 106 | ||||
Frontken Corp. Bhd. | 144,600 | 101 | ||||
2 | Lotte Chemical Titan Holding Bhd. | 192,400 | 100 | |||
Syarikat Takaful Malaysia Keluarga Bhd. | 112,600 | 100 | ||||
Malaysia Building Society Bhd. | 716,600 | 99 | ||||
UWC Bhd. | 98,400 | 95 | ||||
VS Industry Bhd. | 328,200 | 90 | ||||
Yinson Holdings Bhd. | 68,700 | 86 | ||||
Malakoff Corp. Bhd. | 512,200 | 83 | ||||
Astro Malaysia Holdings Bhd. | 306,900 | 73 |
Shares | Market Value• ($000) | |||||
Kossan Rubber Industries Bhd. | 147,200 | 61 | ||||
* | SP Setia Bhd. Group | 187,100 | 57 | |||
Malaysian Resources Corp. Bhd. | 663,900 | 56 | ||||
Leong Hup International Bhd. | 448,300 | 56 | ||||
IOI Properties Group Bhd. | 218,300 | 54 | ||||
* | WCT Holdings Bhd. | 407,548 | 50 | |||
Sime Darby Property Bhd. | 330,100 | 48 | ||||
YTL Power International Bhd. | 210,700 | 30 | ||||
Cahya Mata Sarawak Bhd. | 102,500 | 29 | ||||
Fraser & Neave Holdings Bhd. | 4,400 | 24 | ||||
UMW Holdings Bhd. | 18,200 | 13 | ||||
* | UEM Sunrise Bhd. | 131,300 | 10 | |||
19,122 | ||||||
Mexico (0.7%) | ||||||
America Movil SAB de CV | 4,816,041 | 4,353 | ||||
Grupo Financiero Banorte SAB de CV | 494,000 | 3,342 | ||||
Wal-Mart de Mexico SAB de CV | 799,000 | 3,039 | ||||
Fomento Economico Mexicano SAB de CV | 342,323 | 2,758 | ||||
Grupo Bimbo SAB de CV | 492,034 | 1,515 | ||||
* | Cemex SAB de CV | 2,565,300 | 1,318 | |||
* | Grupo Aeroportuario del Pacifico SAB de CV Class B | 59,800 | 870 | |||
Grupo Aeroportuario del Sureste SAB de CV Class B | 30,695 | 664 | ||||
PLA Administradora Industrial S de RL de CV | 501,500 | 661 | ||||
2 | Macquarie Mexico Real Estate Management SA de CV | 495,963 | 598 | |||
Coca-Cola Femsa SAB de CV | 96,935 | 532 | ||||
Orbia Advance Corp. SAB de CV | 113,900 | 291 | ||||
Grupo Elektra SAB de CV | 4,115 | 270 | ||||
Fibra Uno Administracion SA de CV | 214,600 | 242 | ||||
Corp. Inmobiliaria Vesta SAB de CV | 123,700 | 223 | ||||
* | Grupo Financiero Inbursa SAB de CV | 130,700 | 213 | |||
* | Controladora Vuela Cia de Aviacion SAB de CV Class A | 96,500 | 184 | |||
* | Alsea SAB de CV | 82,600 | 179 |
Shares | Market Value• ($000) | |||||
Gruma SAB de CV Class B | 11,925 | 162 | ||||
Grupo Aeroportuario del Centro Norte SAB de CV Class B | 20,253 | 146 | ||||
Grupo Herdez SAB de CV | 71,700 | 101 | ||||
2 | Banco del Bajio SA | 41,500 | 101 | |||
Industrias Penoles SAB de CV | 7,930 | 99 | ||||
*,2 | Grupo Traxion SAB de CV | 53,400 | 90 | |||
Arca Continental SAB de CV | 12,900 | 85 | ||||
Telesites SAB de CV | 75,400 | 84 | ||||
Regional SAB de CV | 14,000 | 83 | ||||
Prologis Property Mexico SA de CV | 32,474 | 78 | ||||
Grupo Carso SAB de CV | 23,600 | 72 | ||||
Bolsa Mexicana de Valores SAB de CV | 33,500 | 64 | ||||
* | Gentera SAB de CV | 76,600 | 57 | |||
La Comer SAB de CV | 30,000 | 54 | ||||
GCC SAB de CV | 7,900 | 52 | ||||
Qualitas Controladora SAB de CV | 9,100 | 50 | ||||
*,2 | Nemak SAB de CV | 228,000 | 47 | |||
Kimberly-Clark de Mexico SAB de CV Class A | 30,500 | 43 | ||||
Genomma Lab Internacional SAB de CV Class B | 40,500 | 37 | ||||
Grupo Comercial Chedraui SA de CV | 16,200 | 36 | ||||
* | Grupo Rotoplas SAB de CV | 23,220 | 30 | |||
Concentradora Fibra Danhos SA de CV | 25,700 | 29 | ||||
El Puerto de Liverpool SAB de CV | 5,800 | 28 | ||||
* | Unifin Financiera SAB de CV | 20,124 | 25 | |||
* | Axtel SAB de CV | 100,863 | 15 | |||
Alpek SAB de CV Class A | 5,100 | 6 | ||||
22,926 | ||||||
Netherlands (3.2%) | ||||||
ASML Holding NV | 55,997 | 37,463 | ||||
*,2 | Adyen NV | 4,146 | 8,641 | |||
* | Prosus NV | 126,942 | 7,881 | |||
ING Groep NV | 566,635 | 6,617 | ||||
Koninklijke DSM NV | 25,212 | 4,734 | ||||
Koninklijke Philips NV | 134,154 | 4,583 | ||||
Koninklijke Ahold Delhaize NV | 141,558 | 4,355 | ||||
Wolters Kluwer NV | 39,948 | 4,070 | ||||
Akzo Nobel NV | 30,364 | 2,889 | ||||
ASM International NV | 7,354 | 2,375 | ||||
Universal Music Group NV | 102,682 | 2,345 |
Shares | Market Value• ($000) | |||||
Koninklijke KPN NV | 623,653 | 2,134 | ||||
NN Group NV | 34,070 | 1,635 | ||||
IMCD NV | 10,018 | 1,627 | ||||
Randstad NV | 23,763 | 1,619 | ||||
ASR Nederland NV | 34,366 | 1,485 | ||||
Aegon NV | 277,223 | 1,369 | ||||
*,2 | Just Eat Takeaway.com NV | 27,369 | 1,108 | |||
2 | Signify NV | 18,445 | 944 | |||
BE Semiconductor Industries NV | 10,574 | 903 | ||||
2 | ABN AMRO Bank NV | 51,199 | 681 | |||
TKH Group NV | 9,385 | 520 | ||||
* | Galapagos NV | 6,892 | 455 | |||
APERAM SA | 7,156 | 401 | ||||
Koninklijke Vopak NV | 7,844 | 291 | ||||
*,2 | Intertrust NV | 8,709 | 190 | |||
* | InPost SA | 28,551 | 176 | |||
Boskalis Westminster | 4,957 | 143 | ||||
*,2 | Basic-Fit NV | 2,863 | 131 | |||
Corbion NV | 3,441 | 127 | ||||
* | OCI NV | 4,016 | 114 | |||
PostNL NV | 26,890 | 108 | ||||
*,2 | Alfen Beheer BV | 1,094 | 107 | |||
* | Accell Group NV | 1,597 | 103 | |||
Eurocommercial Properties NV | 3,206 | 80 | ||||
2 | Flow Traders | 1,304 | 45 | |||
* | Sligro Food Group NV | 1,092 | 28 | |||
NSI NV | 625 | 25 | ||||
Vastned Retail NV | 701 | 20 | ||||
Wereldhave NV | 895 | 16 | ||||
* | TomTom NV | 1,235 | 10 | |||
102,548 | ||||||
New Zealand (0.3%) | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 98,876 | 1,858 | ||||
Spark New Zealand Ltd. | 488,724 | 1,501 | ||||
* | Auckland International Airport Ltd. | 271,795 | 1,316 | |||
Contact Energy Ltd. | 227,738 | 1,257 | ||||
Meridian Energy Ltd. | 187,842 | 638 | ||||
Fletcher Building Ltd. | 120,526 | 551 | ||||
* | a2 Milk Co. Ltd. | 130,476 | 528 | |||
Infratil Ltd. | 79,076 | 426 | ||||
Mainfreight Ltd. | 6,619 | 357 | ||||
Heartland Group Holdings Ltd. | 135,080 | 208 | ||||
Mercury NZ Ltd. | 45,847 | 179 | ||||
Stride Property Group | 134,058 | 176 | ||||
EBOS Group Ltd. | 5,710 | 151 | ||||
Ryman Healthcare Ltd. | 22,205 | 151 | ||||
Precinct Properties New Zealand Ltd. | 134,825 | 146 | ||||
Chorus Ltd. | 28,784 | 143 |
Shares | Market Value• ($000) | |||||
* | SKY Network Television Ltd. | 73,542 | 130 | |||
Freightways Ltd. | 8,607 | 71 | ||||
* | Serko Ltd. | 21,106 | 69 | |||
Argosy Property Ltd. | 68,829 | 64 | ||||
Summerset Group Holdings Ltd. | 7,897 | 63 | ||||
Kiwi Property Group Ltd. | 80,968 | 59 | ||||
Vital Healthcare Property Trust | 24,388 | 51 | ||||
* | Pushpay Holdings Ltd. | 74,424 | 47 | |||
Kathmandu Holdings Ltd. | 51,665 | 46 | ||||
Skellerup Holdings Ltd. | 10,567 | 42 | ||||
* | Pacific Edge Ltd. | 56,053 | 37 | |||
Scales Corp. Ltd. | 9,109 | 31 | ||||
* | Air New Zealand Ltd. | 26,170 | 27 | |||
* | Tourism Holdings Ltd. | 8,218 | 15 | |||
Arvida Group Ltd. | 13,558 | 15 | ||||
* | Vista Group International Ltd. | 9,316 | 12 | |||
* | Synlait Milk Ltd. | 1,684 | 4 | |||
10,369 | ||||||
Nigeria (0.0%) | ||||||
2 | Airtel Africa plc | 207,911 | 393 | |||
Norway (0.6%) | ||||||
DNB Bank ASA | 151,877 | 3,400 | ||||
Norsk Hydro ASA | 268,112 | 2,546 | ||||
Mowi ASA | 83,405 | 2,148 | ||||
Yara International ASA | 36,119 | 1,839 | ||||
Storebrand ASA | 136,931 | 1,355 | ||||
TOMRA Systems ASA | 25,984 | 1,223 | ||||
Telenor ASA | 82,224 | 1,217 | ||||
* | Nordic Semiconductor ASA | 29,457 | 787 | |||
SpareBank 1 SMN | 35,287 | 583 | ||||
Bakkafrost P/F | 7,944 | 540 | ||||
Schibsted ASA Class A | 16,425 | 472 | ||||
*,3 | NEL ASA | 230,028 | 422 | |||
SpareBank 1 SR-Bank ASA | 16,787 | 249 | ||||
* | Adevinta ASA | 22,783 | 244 | |||
Schibsted ASA Class B | 8,725 | 226 | ||||
2 | Entra ASA | 9,765 | 206 | |||
2 | Scatec ASA | 13,806 | 199 | |||
Salmar ASA | 2,436 | 179 | ||||
Gjensidige Forsikring ASA | 5,807 | 144 | ||||
* | Kahoot! ASA | 39,339 | 123 | |||
Borregaard ASA | 4,990 | 110 | ||||
MPC Container Ships A/S | 33,610 | 106 | ||||
Aker ASA Class A | 1,171 | 97 | ||||
2 | BW LPG Ltd. | 13,046 | 78 | |||
*,2 | Crayon Group Holding ASA | 3,375 | 76 | |||
Leroy Seafood Group ASA | 5,955 | 52 |
Shares | Market Value• ($000) | |||||
* | Atea ASA | 3,166 | 50 | |||
Veidekke ASA | 3,082 | 48 | ||||
* | Frontline Ltd. | 4,078 | 39 | |||
2 | Sbanken ASA | 3,743 | 39 | |||
Austevoll Seafood ASA | 1,525 | 21 | ||||
* | Hexagon Composites ASA | 6,571 | 21 | |||
*,2 | Elkem ASA | 4,052 | 15 | |||
* | Grieg Seafood ASA | 1,064 | 13 | |||
18,867 | ||||||
Pakistan (0.0%) | ||||||
* | Lucky Cement Ltd. | 23,964 | 88 | |||
Millat Tractors Ltd. | 15,584 | 88 | ||||
United Bank Ltd. | 101,400 | 85 | ||||
Habib Bank Ltd. | 121,342 | 79 | ||||
Searle Co. Ltd. | 100,379 | 72 | ||||
* | Fauji Cement Co. Ltd. | 673,000 | 67 | |||
Bank Alfalah Ltd. | 313,812 | 64 | ||||
SUI Northern Gas Pipeline | 246,958 | 47 | ||||
Fauji Fertilizer Co. Ltd. | 62,797 | 39 | ||||
TRG Pakistan | 98,500 | 39 | ||||
MCB Bank Ltd. | 43,000 | 38 | ||||
Hub Power Co. Ltd. | 68,436 | 28 | ||||
* | National Bank of Pakistan | 134,500 | 23 | |||
Kot Addu Power Co. Ltd. | 77,500 | 13 | ||||
DG Khan Cement Co. Ltd. | 23,500 | 9 | ||||
Engro Corp. Ltd. | 2,420 | 4 | ||||
783 | ||||||
Philippines (0.2%) | ||||||
Ayala Land Inc. | 1,442,800 | 1,100 | ||||
BDO Unibank Inc. | 407,540 | 1,033 | ||||
International Container Terminal Services Inc. | 171,150 | 705 | ||||
Bank of the Philippine Islands | 344,540 | 673 | ||||
Ayala Corp. | 36,770 | 610 | ||||
PLDT Inc. | 9,465 | 332 | ||||
JG Summit Holdings Inc. | 277,430 | 328 | ||||
Manila Electric Co. | 26,980 | 194 | ||||
Globe Telecom Inc. | 3,575 | 180 | ||||
Jollibee Foods Corp. | 37,400 | 176 | ||||
Universal Robina Corp. | 71,220 | 167 | ||||
Wilcon Depot Inc. | 252,300 | 144 | ||||
Metropolitan Bank & Trust Co. | 124,857 | 139 | ||||
Security Bank Corp. | 53,520 | 122 | ||||
* | Converge Information & Communications Technology Solutions Inc. | 188,700 | 96 | |||
AC Energy Corp. | 572,900 | 95 | ||||
* | Cebu Air Inc. | 101,020 | 91 |
Shares | Market Value• ($000) | |||||
Robinsons Retail Holdings Inc. | 75,530 | 91 | ||||
Aboitiz Power Corp. | 105,000 | 74 | ||||
Manila Water Co. Inc. | 166,400 | 65 | ||||
Nickel Asia Corp. | 425,100 | 65 | ||||
GT Capital Holdings Inc. | 5,680 | 64 | ||||
Metro Pacific Investments Corp. | 813,000 | 62 | ||||
Century Pacific Food Inc. | 115,400 | 60 | ||||
Puregold Price Club Inc. | 55,700 | 38 | ||||
First Gen Corp. | 59,550 | 33 | ||||
Vista Land & Lifescapes Inc. | 258,100 | 16 | ||||
D&L Industries Inc. | 101,700 | 16 | ||||
Filinvest Land Inc. | 339,000 | 7 | ||||
*,2 | CEMEX Holdings Philippines Inc. | 222,933 | 4 | |||
6,780 | ||||||
Poland (0.2%) | ||||||
* | Powszechna Kasa Oszczednosci Bank Polski SA | 170,059 | 1,634 | |||
Bank Polska Kasa Opieki SA | 38,097 | 1,045 | ||||
KGHM Polska Miedz SA | 21,284 | 836 | ||||
Powszechny Zaklad Ubezpieczen SA | 93,547 | 702 | ||||
*,2 | Allegro.eu SA | 59,227 | 441 | |||
CD Projekt SA | 9,122 | 362 | ||||
*,2 | Dino Polska SA | 4,441 | 312 | |||
LPP SA | 130 | 267 | ||||
KRUK SA | 1,435 | 90 | ||||
Santander Bank Polska SA | 1,183 | 89 | ||||
* | Orange Polska SA | 35,360 | 66 | |||
* | Bank Millennium SA | 38,812 | 65 | |||
Cyfrowy Polsat SA | 9,908 | 64 | ||||
* | Alior Bank SA | 5,709 | 64 | |||
* | mBank SA | 483 | 47 | |||
Asseco Poland SA | 2,077 | 37 | ||||
* | CCC SA | 2,358 | 30 | |||
Bank Handlowy w Warszawie SA | 1,155 | 16 | ||||
Warsaw Stock Exchange | 1,564 | 14 | ||||
* | AmRest Holdings SE | 2,391 | 13 | |||
* | Mercator Medical SA | 498 | 8 | |||
6,202 | ||||||
Portugal (0.1%) | ||||||
EDP Renovaveis SA | 43,272 | 1,052 | ||||
Jeronimo Martins SGPS SA | 36,787 | 802 | ||||
NOS SGPS SA | 121,587 | 468 | ||||
CTT-Correios de Portugal SA | 39,640 | 192 | ||||
Sonae SGPS SA | 139,794 | 152 |
Shares | Market Value• ($000) | |||||
REN - Redes Energeticas Nacionais SGPS SA | 46,945 | 136 | ||||
* | Banco Comercial Portugues SA | 534,629 | 99 | |||
Altri SGPS SA | 4,107 | 26 | ||||
Navigator Co. SA | 4,298 | 15 | ||||
Corticeira Amorim SGPS SA | 1,299 | 14 | ||||
* | Greenvolt-Energias Renovaveis SA | 74 | 1 | |||
2,957 | ||||||
Qatar (0.2%) | ||||||
Qatar National Bank QPSC | 570,786 | 3,425 | ||||
Industries Qatar QSC | 183,589 | 923 | ||||
Masraf Al Rayan QSC | 407,801 | 560 | ||||
Commercial Bank PSQC | 240,552 | 457 | ||||
Mesaieed Petrochemical Holding Co. | 494,837 | 363 | ||||
Qatar Gas Transport Co. Ltd. | 259,057 | 269 | ||||
Qatar Aluminum Manufacturing Co. | 365,644 | 224 | ||||
* | Vodafone Qatar QSC | 466,805 | 223 | |||
Barwa Real Estate Co. | 208,927 | 208 | ||||
Doha Bank QPSC | 208,334 | 163 | ||||
United Development Co. QSC | 345,520 | 159 | ||||
Medicare Group | 61,475 | 132 | ||||
Ooredoo QPSC | 55,657 | 117 | ||||
7,223 | ||||||
Romania (0.0%) | ||||||
Banca Transilvania SA | 233,785 | 134 | ||||
Russia (0.1%) | ||||||
Sberbank of Russia PJSC | 1,437,070 | 500 | ||||
Polyus PJSC | 3,157 | 219 | ||||
VTB Bank PJSC GDR | 199,611 | 132 | ||||
Moscow Exchange MICEX-RTS PJSC | 175,830 | 106 | ||||
Mobile TeleSystems PJSC | 72,320 | 103 | ||||
* | ENEL RUSSIA PJSC | 20,838,000 | 81 | |||
Rostelecom PJSC | 108,980 | 63 | ||||
Novolipetsk Steel PJSC | 118,300 | 59 | ||||
Inter RAO UES PJSC | 3,338,400 | 58 | ||||
Magnit PJSC | 9,808 | 56 | ||||
2 | Detsky Mir PJSC | 100,010 | 52 | |||
PhosAgro PJSC | 3,204 | 50 | ||||
Novorossiysk Commercial Sea Port PJSC | 1,721,500 | 43 | ||||
Polyus PJSC GDR | 736 | 39 | ||||
* | Credit Bank of Moscow PJSC | 1,108,700 | 35 | |||
RusHydro PJSC | 6,697,000 | 34 |
Shares | Market Value• ($000) | |||||
Mobile TeleSystems PJSC ADR | 8,336 | 33 | ||||
TGC-1 PJSC | 698,000,000 | 31 | ||||
M.Video PJSC | 15,392 | 25 | ||||
Cherkizovo Group PJSC | 1,432 | 25 | ||||
Unipro PJSC | 2,240,000 | 22 | ||||
ROSSETI PJSC | 5,225,000 | 22 | ||||
Sistema PJSFC | 466,300 | 21 | ||||
Rosseti Lenenergo PJSC Preference Shares | 25,440 | 20 | ||||
Mosenergo PJSC | 1,671,000 | 18 | ||||
VTB Bank PJSC | 147,510,000 | 18 | ||||
OGK-2 PJSC | 6,493,000 | 15 | ||||
Samolet Group | 951 | 15 | ||||
Federal Grid Co. Unified Energy System PJSC | 24,100,000 | 13 | ||||
IDGC of Centre & Volga Region PJSC | 13,690,000 | 13 | ||||
* | Aeroflot PJSC | 169,870 | 5 | |||
1,926 | ||||||
Saudi Arabia (0.9%) | ||||||
Al Rajhi Bank | 166,034 | 7,123 | ||||
Saudi National Bank | 297,727 | 5,424 | ||||
Saudi Telecom Co. | 82,195 | 2,508 | ||||
* | Saudi Arabian Mining Co. | 54,319 | 1,551 | |||
Riyad Bank | 161,630 | 1,532 | ||||
Alinma Bank | 114,215 | 1,083 | ||||
Sahara International Petrochemical Co. | 45,152 | 565 | ||||
Etihad Etisalat Co. | 55,827 | 520 | ||||
* | ACWA Power Co. | 19,091 | 510 | |||
Arab National Bank | 62,899 | 470 | ||||
Jarir Marketing Co. | 8,364 | 467 | ||||
Almarai Co. JSC | 27,721 | 372 | ||||
* | Mobile Telecommunications Co. Saudi Arabia | 100,837 | 362 | |||
Abdullah Al Othaim Markets Co. | 9,997 | 297 | ||||
Savola Group | 31,725 | 287 | ||||
Jadwa REIT Saudi Fund | 67,503 | 285 | ||||
* | Saudi Airlines Catering Co. | 11,485 | 260 | |||
Arriyadh Development Co. | 30,775 | 214 | ||||
* | Dar Al Arkan Real Estate Development Co. | 72,570 | 212 | |||
Leejam Sports Co. JSC | 6,175 | 209 | ||||
* | Methanol Chemicals Co. | 19,644 | 204 | |||
Astra Industrial Group | 19,119 | 201 | ||||
Co. for Cooperative Insurance | 8,902 | 187 | ||||
Arabian Centres Co. Ltd. | 27,779 | 168 | ||||
Saudia Dairy & Foodstuff Co. | 3,601 | 164 | ||||
* | Dur Hospitality Co. | 15,330 | 135 |
Shares | Market Value• ($000) | |||||
* | Mediterranean & Gulf Insurance & Reinsurance Co. | 28,462 | 135 | |||
Bawan Co. | 13,336 | 130 | ||||
* | Aseer Trading Tourism & Manufacturing Co. | 23,127 | 127 | |||
* | Tabuk Cement Co. | 26,491 | 124 | |||
Saudi Ceramic Co. | 9,332 | 122 | ||||
* | National Industrialization Co. | 17,469 | 106 | |||
Northern Region Cement Co. | 30,836 | 106 | ||||
Yanbu Cement Co. | 10,314 | 105 | ||||
* | Al Jouf Cement Co. | 36,242 | 104 | |||
Hail Cement Co. | 26,970 | 95 | ||||
Najran Cement Co. | 19,398 | 95 | ||||
United International Transportation Co. | 6,872 | 90 | ||||
Eastern Province Cement Co. | 7,888 | 88 | ||||
City Cement Co. | 13,514 | 77 | ||||
* | Abdul Mohsen Al-Hokair Tourism & Development Co. | 10,676 | 50 | |||
* | Saudi Public Transport Co. | 4,324 | 25 | |||
* | Zamil Industrial Investment Co. | 2,495 | 19 | |||
26,908 | ||||||
Singapore (0.9%) | ||||||
DBS Group Holdings Ltd. | 258,800 | 6,506 | ||||
Oversea-Chinese Banking Corp. Ltd. | 467,500 | 4,051 | ||||
United Overseas Bank Ltd. | 181,600 | 4,036 | ||||
Singapore Telecommunications Ltd. | 1,178,400 | 2,210 | ||||
Wilmar International Ltd. | 450,087 | 1,463 | ||||
Singapore Exchange Ltd. | 203,000 | 1,408 | ||||
* | Capitaland Investment Ltd. | 426,300 | 1,168 | |||
UOL Group Ltd. | 219,600 | 1,138 | ||||
Ascendas REIT | 405,200 | 831 | ||||
ComfortDelGro Corp. Ltd. | 727,100 | 760 | ||||
* | Singapore Airlines Ltd. | 181,200 | 686 | |||
Frasers Centrepoint Trust | 344,719 | 576 | ||||
Singapore Press Holdings Ltd. | 295,100 | 508 | ||||
Venture Corp. Ltd. | 36,800 | 480 | ||||
CapitaLand Integrated Commercial Trust | 303,700 | 475 | ||||
Frasers Logistics & Commercial Trust | 368,689 | 382 | ||||
Sabana Industrial REIT | 954,800 | 318 | ||||
* | SATS Ltd. | 103,800 | 305 | |||
Keppel DC REIT | 163,223 | 264 | ||||
Starhill Global REIT | 341,900 | 152 |
Shares | Market Value• ($000) | |||||
AIMS APAC REIT | 149,600 | 149 | ||||
Lendlease Global Commercial REIT | 240,800 | 147 | ||||
* | Sembcorp Marine Ltd. | 2,209,077 | 136 | |||
ESR-REIT | 391,878 | 122 | ||||
Sembcorp Industries Ltd. | 62,400 | 116 | ||||
Far East Hospitality Trust | 262,400 | 112 | ||||
Golden Agri-Resources Ltd. | 510,400 | 108 | ||||
Hutchison Port Holdings Trust | 420,000 | 106 | ||||
NetLink NBN Trust | 132,300 | 93 | ||||
Manulife US REIT | 128,194 | 84 | ||||
Frasers Hospitality Trust | 238,200 | 77 | ||||
AEM Holdings Ltd. | 24,600 | 76 | ||||
iFAST Corp. Ltd. | 14,700 | 66 | ||||
Cromwell European REIT | 24,540 | 65 | ||||
Ascott Residence Trust | 82,800 | 63 | ||||
Keppel Infrastructure Trust | 136,900 | 55 | ||||
Keppel REIT | 43,700 | 37 | ||||
Nanofilm Technologies International Ltd. | 11,500 | 24 | ||||
First Resources Ltd. | 15,300 | 21 | ||||
Riverstone Holdings Ltd. | 36,000 | 21 | ||||
StarHub Ltd. | 21,100 | 20 | ||||
Raffles Medical Group Ltd. | 23,700 | 20 | ||||
Olam International Ltd. | 14,300 | 18 | ||||
Singapore Post Ltd. | 36,200 | 17 | ||||
* | Lippo Malls Indonesia Retail Trust | 377,780 | 15 | |||
Silverlake Axis Ltd. | 54,100 | 11 | ||||
* | Yoma Strategic Holdings Ltd. | 71,400 | 7 | |||
*,1 | Eagle Hospitality Trust | 38,000 | 5 | |||
*,1 | Best World International Ltd. | 3,000 | 3 | |||
29,511 | ||||||
South Africa (1.2%) | ||||||
Naspers Ltd. | 31,402 | 3,954 | ||||
FirstRand Ltd. | 714,856 | 3,078 | ||||
Impala Platinum Holdings Ltd. | 131,940 | 2,517 | ||||
Standard Bank Group Ltd. | 217,611 | 2,306 | ||||
Gold Fields Ltd. | 138,795 | 1,933 | ||||
Capitec Bank Holdings Ltd. | 13,547 | 1,829 | ||||
Absa Group Ltd. | 149,245 | 1,716 | ||||
Shoprite Holdings Ltd. | 107,727 | 1,607 | ||||
Anglo American Platinum Ltd. | 8,657 | 1,350 | ||||
Bidvest Group Ltd. | 97,836 | 1,340 | ||||
Bid Corp. Ltd. | 65,805 | 1,339 | ||||
Sanlam Ltd. | 298,840 | 1,259 | ||||
Nedbank Group Ltd. | 62,976 | 897 |
Shares | Market Value• ($000) | |||||
Remgro Ltd. | 96,577 | 878 | ||||
Clicks Group Ltd. | 43,656 | 847 | ||||
Mr Price Group Ltd. | 58,999 | 805 | ||||
* | Northam Platinum Holdings Ltd. | 45,580 | 732 | |||
Vodacom Group Ltd. | 70,617 | 679 | ||||
Aspen Pharmacare Holdings Ltd. | 47,501 | 622 | ||||
Foschini Group Ltd. | 74,587 | 605 | ||||
Growthpoint Properties Ltd. | 563,524 | 492 | ||||
AVI Ltd. | 104,575 | 488 | ||||
Imperial Logistics Ltd. | 108,913 | 466 | ||||
SPAR Group Ltd. | 41,825 | 446 | ||||
NEPI Rockcastle plc | 64,096 | 410 | ||||
Harmony Gold Mining Co. Ltd. | 86,129 | 368 | ||||
Old Mutual Ltd. | 376,323 | 309 | ||||
MultiChoice Group | 32,188 | 264 | ||||
* | Discovery Ltd. | 24,730 | 253 | |||
Woolworths Holdings Ltd. | 76,291 | 251 | ||||
Royal Bafokeng Platinum Ltd. | 20,007 | 237 | ||||
Kumba Iron Ore Ltd. | 5,385 | 213 | ||||
Rand Merchant Investment Holdings Ltd. | 56,193 | 176 | ||||
Tiger Brands Ltd. | 16,213 | 172 | ||||
Truworths International Ltd. | 37,256 | 142 | ||||
2 | Pepkor Holdings Ltd. | 88,764 | 127 | |||
Life Healthcare Group Holdings Ltd. | 83,535 | 122 | ||||
Motus Holdings Ltd. | 16,791 | 120 | ||||
Redefine Properties Ltd. | 431,631 | 119 | ||||
* | Sappi Ltd. | 35,524 | 118 | |||
* | PSG Group Ltd. | 18,993 | 101 | |||
African Rainbow Minerals Ltd. | 5,099 | 91 | ||||
Barloworld Ltd. | 9,932 | 79 | ||||
Advtech Ltd. | 68,540 | 71 | ||||
Transaction Capital Ltd. | 24,092 | 69 | ||||
Netcare Ltd. | 58,579 | 56 | ||||
Pick n Pay Stores Ltd. | 17,483 | 52 | ||||
Omnia Holdings Ltd. | 12,166 | 50 | ||||
Cashbuild Ltd. | 2,490 | 45 | ||||
Ninety One Ltd. | 13,890 | 45 | ||||
* | Telkom SA SOC Ltd. | 16,420 | 44 | |||
Super Group Ltd. | 18,991 | 39 | ||||
Equites Property Fund Ltd. | 27,807 | 38 | ||||
Hyprop Investments Ltd. | 16,725 | 37 | ||||
Fortress REIT Ltd. Class A | 42,461 | 35 | ||||
Resilient REIT Ltd. | 8,354 | 32 |
Shares | Market Value• ($000) | |||||
KAP Industrial Holdings Ltd. | 97,644 | 30 | ||||
Momentum Metropolitan Holdings | 24,706 | 30 | ||||
SA Corporate Real Estate Ltd. | 192,130 | 30 | ||||
* | Fortress REIT Ltd. Class B | 128,098 | 28 | |||
AECI Ltd. | 3,214 | 23 | ||||
DataTec Ltd. | 9,592 | 23 | ||||
DRDGOLD Ltd. | 24,680 | 23 | ||||
* | Famous Brands Ltd. | 4,683 | 22 | |||
JSE Ltd. | 2,651 | 21 | ||||
* | Attacq Ltd. | 41,176 | 21 | |||
1 | Liberty Holdings Ltd. | 2,847 | 20 | |||
2 | Dis-Chem Pharmacies Ltd. | 8,756 | 20 | |||
Astral Foods Ltd. | 1,608 | 17 | ||||
Coronation Fund Managers Ltd. | 4,546 | 14 | ||||
Santam Ltd. | 637 | 11 | ||||
Zeder Investments Ltd. | 46,813 | 11 | ||||
* | EPP NV | 15,500 | 11 | |||
Emira Property Fund Ltd. | 14,713 | 11 | ||||
Raubex Group Ltd. | 3,971 | 10 | ||||
Investec Ltd. | 1,646 | 9 | ||||
* | Massmart Holdings Ltd. | 2,664 | 9 | |||
36,864 | ||||||
South Korea (3.9%) | ||||||
Samsung Electronics Co. Ltd. | 589,262 | 35,505 | ||||
Samsung Electronics Co. Ltd. Preference Shares | 193,393 | 10,688 | ||||
SK Hynix Inc. | 71,400 | 7,444 | ||||
NAVER Corp. | 18,225 | 4,856 | ||||
Samsung SDI Co. Ltd. | 7,137 | 3,289 | ||||
LG Chem Ltd. | 6,116 | 2,902 | ||||
Kakao Corp. | 36,482 | 2,889 | ||||
KB Financial Group Inc. | 50,458 | 2,489 | ||||
Shinhan Financial Group Co. Ltd. | 62,127 | 2,021 | ||||
Celltrion Inc. | 14,911 | 1,990 | ||||
Hyundai Mobis Co. Ltd. | 7,876 | 1,479 | ||||
Hana Financial Group Inc. | 35,779 | 1,454 | ||||
LG Electronics Inc. | 11,968 | 1,249 | ||||
*,2 | Samsung Biologics Co. Ltd. | 1,914 | 1,245 | |||
* | HMM Co. Ltd. | 48,925 | 1,185 | |||
Samsung Electro-Mechanics Co. Ltd. | 6,797 | 950 | ||||
Woori Financial Group Inc. | 73,926 | 884 | ||||
LG Household & Health Care Ltd. | 1,064 | 844 | ||||
LG Corp. | 12,195 | 766 |
Shares | Market Value• ($000) | |||||
Celltrion Healthcare Co. Ltd. | 10,067 | 535 | ||||
Samsung Fire & Marine Insurance Co. Ltd. | 3,289 | 523 | ||||
Amorepacific Corp. | 3,368 | 520 | ||||
ESR Kendall Square REIT Co. Ltd. | 93,079 | 491 | ||||
Mirae Asset Securities Co. Ltd. | 64,531 | 476 | ||||
LG Innotek Co. Ltd. | 1,674 | 462 | ||||
Samsung Securities Co. Ltd. | 12,794 | 453 | ||||
BNK Financial Group Inc. | 67,705 | 446 | ||||
L&F Co. Ltd. | 2,688 | 442 | ||||
LG Chem Ltd. Preference Shares | 1,869 | 424 | ||||
Samsung SDS Co. Ltd. | 3,576 | 420 | ||||
* | Samsung Engineering Co. Ltd. | 21,209 | 414 | |||
LG Display Co. Ltd. | 25,887 | 407 | ||||
Meritz Fire & Marine Insurance Co. Ltd. | 11,327 | 389 | ||||
Ecopro BM Co. Ltd. | 1,192 | 377 | ||||
CJ CheilJedang Corp. | 1,184 | 375 | ||||
Coway Co. Ltd. | 6,013 | 361 | ||||
* | SK Square Co. Ltd. | 7,083 | 329 | |||
LG Electronics Inc. Preference Shares | 6,553 | 328 | ||||
SK Telecom Co. Ltd. | 7,163 | 327 | ||||
POSCO Chemical Co. Ltd. | 3,386 | 324 | ||||
LOTTE Fine Chemical Co. Ltd. | 4,737 | 315 | ||||
SKC Co. Ltd. | 2,519 | 293 | ||||
* | Kumho Petrochemical Co. Ltd. | 2,122 | 286 | |||
Amorepacific Corp. Preference Shares | 4,447 | 285 | ||||
* | Hanwha Solutions Corp. | 9,966 | 283 | |||
F&F Co. Ltd. | 377 | 282 | ||||
Samsung Life Insurance Co. Ltd. | 5,488 | 274 | ||||
Hyundai Glovis Co. Ltd. | 1,806 | 266 | ||||
* | Samsung Heavy Industries Co. Ltd. | 52,492 | 256 | |||
Lotte Chemical Corp. | 1,354 | 250 | ||||
DB HiTek Co. Ltd. | 4,171 | 244 | ||||
Industrial Bank of Korea | 26,828 | 241 | ||||
DB Insurance Co. Ltd. | 4,570 | 235 | ||||
Binggrae Co. Ltd. | 5,042 | 225 | ||||
Eusu Holdings Co. Ltd. | 47,998 | 219 | ||||
LEENO Industrial Inc. | 1,429 | 216 | ||||
LG Uplus Corp. | 19,593 | 215 | ||||
Hansol Chemical Co. Ltd. | 1,145 | 207 | ||||
Hankook Tire & Technology Co. Ltd. | 7,041 | 207 | ||||
* | Kolmar Korea Co. Ltd. | 5,343 | 206 |
Shares | Market Value• ($000) | |||||
Hyosung Advanced Materials Corp. | 524 | 206 | ||||
2 | Netmarble Corp. | 2,361 | 203 | |||
LG Household & Health Care Ltd. Preference Shares | 457 | 200 | ||||
JR Global REIT | 44,619 | 200 | ||||
Wemade Co. Ltd. | 2,148 | 199 | ||||
* | Kakao Games Corp. | 3,168 | 197 | |||
Shinsegae International Inc. | 1,515 | 193 | ||||
* | SOLUM Co. Ltd. | 10,106 | 193 | |||
Mcnex Co. Ltd. | 4,993 | 192 | ||||
Maeil Dairies Co. Ltd. | 3,291 | 187 | ||||
KCC Corp. | 654 | 183 | ||||
Hyosung TNC Corp. | 451 | 183 | ||||
OCI Co. Ltd. | 2,002 | 177 | ||||
Ecopro Co. Ltd. | 2,391 | 176 | ||||
Posco ICT Co. Ltd. | 36,354 | 175 | ||||
Hyundai Steel Co. | 5,227 | 174 | ||||
* | Dae Han Flour Mills Co. Ltd. | 1,230 | 171 | |||
DGB Financial Group Inc. | 21,571 | 171 | ||||
SK Telecom Co. Ltd. ADR | 6,827 | 171 | ||||
Meritz Securities Co. Ltd. | 34,740 | 170 | ||||
MegaStudyEdu Co. Ltd. | 2,449 | 170 | ||||
Iljin Materials Co. Ltd. | 2,168 | 166 | ||||
Foosung Co. Ltd. | 9,231 | 165 | ||||
* | Eugene Investment & Securities Co. Ltd. | 57,667 | 163 | |||
* | Coreana Cosmetics Co. Ltd. | 47,275 | 160 | |||
* | Hanmi Pharm Co. Ltd. | 722 | 160 | |||
* | TY Holdings Co. Ltd. | 6,915 | 158 | |||
SPC Samlip Co. Ltd. | 2,229 | 157 | ||||
SIMMTECH Co. Ltd. | 3,402 | 153 | ||||
AMOREPACIFIC Group | 3,718 | 152 | ||||
JB Financial Group Co. Ltd. | 21,976 | 151 | ||||
Seegene Inc. | 3,497 | 150 | ||||
WONIK IPS Co. Ltd. | 4,915 | 148 | ||||
KTB Investment & Securities Co. Ltd. | 34,676 | 147 | ||||
Korea Asset In Trust Co. Ltd. | 47,142 | 146 | ||||
Koh Young Technology Inc. | 8,974 | 144 | ||||
Kyobo Securities Co. Ltd. | 22,409 | 142 | ||||
1 | Osstem Implant Co. Ltd. | 1,176 | 140 | |||
KC Co. Ltd. | 8,513 | 139 | ||||
* | JYP Entertainment Corp. | 3,252 | 137 | |||
* | KIWOOM Securities Co. Ltd. | 1,605 | 136 | |||
* | Hanjin Kal Corp. | 3,011 | 133 |
Shares | Market Value• ($000) | |||||
HDC Hyundai Development Co-Engineering & Construction | 9,897 | 133 | ||||
* | Cuckoo Homesys Co. Ltd. | 4,132 | 133 | |||
* | SK Biopharmaceuticals Co. Ltd. | 1,872 | 133 | |||
Cheil Worldwide Inc. | 7,009 | 132 | ||||
BGF retail Co. Ltd. | 929 | 132 | ||||
* | Cosmax Inc. | 1,826 | 132 | |||
CS Wind Corp. | 2,630 | 132 | ||||
NICE Information Service Co. Ltd. | 8,409 | 131 | ||||
* | DB Financial Investment Co. Ltd. | 24,968 | 130 | |||
* | Interflex Co. Ltd. | 7,695 | 129 | |||
KH Vatec Co. Ltd. | 6,977 | 128 | ||||
Ottogi Corp. | 353 | 127 | ||||
AfreecaTV Co. Ltd. | 1,066 | 125 | ||||
* | Seoul Semiconductor Co. Ltd. | 11,036 | 124 | |||
Daeduck Electronics Co. Ltd. | 5,916 | 124 | ||||
* | Hana Tour Service Inc. | 1,872 | 123 | |||
NH Investment & Securities Co. Ltd. | 12,704 | 123 | ||||
Sangsangin Co. Ltd. | 15,579 | 122 | ||||
* | Creative & Innovative System | 10,517 | 122 | |||
Jusung Engineering Co. Ltd. | 5,474 | 120 | ||||
Hyundai Marine & Fire Insurance Co. Ltd. | 4,993 | 120 | ||||
CJ ENM Co. Ltd. | 1,089 | 119 | ||||
Hyundai Department Store Co. Ltd. | 1,805 | 118 | ||||
SK Securities Co. Ltd. | 157,579 | 118 | ||||
Com2uS Holdings Corp. | 1,040 | 118 | ||||
Partron Co. Ltd. | 12,074 | 116 | ||||
* | Korea Line Corp. | 49,259 | 115 | |||
* | UniTest Inc. | 5,156 | 114 | |||
* | Asiana Airlines Inc. | 6,963 | 113 | |||
Com2uSCorp | 1,190 | 111 | ||||
Park Systems Corp. | 1,116 | 111 | ||||
* | CJ Logistics Corp. | 1,059 | 110 | |||
* | GemVax & Kael Co. Ltd. | 8,613 | 110 | |||
* | Hansol Technics Co. Ltd. | 20,436 | 109 | |||
SM Entertainment Co. Ltd. | 1,731 | 108 | ||||
Ahnlab Inc. | 1,987 | 108 | ||||
DoubleUGames Co. Ltd. | 2,609 | 108 | ||||
* | GeneOne Life Science Inc. | 8,767 | 108 | |||
Chunbo Co. Ltd. | 448 | 107 | ||||
Hanon Systems | 10,770 | 104 | ||||
* | HLB Life Science Co. Ltd. | 11,705 | 104 |
Shares | Market Value• ($000) | |||||
Hansol Holdings Co. Ltd. | 37,913 | 103 | ||||
* | NHN Corp. | 3,452 | 103 | |||
Sam Young Electronics Co. Ltd. | 11,789 | 102 | ||||
* | Wonik Holdings Co. Ltd. | 26,653 | 102 | |||
Hyundai Mipo Dockyard Co. Ltd. | 1,525 | 102 | ||||
* | Hyundai Bioscience Co. Ltd. | 3,822 | 102 | |||
Cell Biotech Co. Ltd. | 7,293 | 101 | ||||
Sindoh Co. Ltd. | 3,764 | 101 | ||||
Mando Corp. | 2,640 | 101 | ||||
Samsung Card Co. Ltd. | 3,697 | 99 | ||||
* | LegoChem Biosciences Inc. | 2,690 | 99 | |||
* | Naturecell Co. Ltd. | 7,125 | 98 | |||
InBody Co. Ltd. | 4,674 | 97 | ||||
Interpark Corp. | 19,286 | 96 | ||||
Samwha Capacitor Co. Ltd. | 2,038 | 96 | ||||
* | Aprogen pharmaceuticals Inc. | 145,301 | 96 | |||
Innox Advanced Materials Co. Ltd. | 2,730 | 96 | ||||
Eugene Technology Co. Ltd. | 2,626 | 96 | ||||
Korean Reinsurance Co. | 11,813 | 95 | ||||
Kolon Industries Inc. | 1,934 | 95 | ||||
Daou Technology Inc. | 5,200 | 94 | ||||
Youngone Corp. | 2,643 | 94 | ||||
Hugel Inc. | 742 | 92 | ||||
Dongjin Semichem Co. Ltd. | 3,046 | 91 | ||||
Hanil Cement Co. Ltd. | 5,990 | 91 | ||||
S&S Tech Corp. | 3,864 | 91 | ||||
Samsung SDI Co. Ltd. Preference Shares | 369 | 90 | ||||
Youlchon Chemical Co. Ltd. | 4,389 | 88 | ||||
* | SFA Semicon Co. Ltd. | 16,020 | 88 | |||
Seobu T&D | 11,620 | 87 | ||||
* | Eo Technics Co. Ltd. | 1,028 | 86 | |||
* | Daesang Corp. | 4,629 | 86 | |||
Daejoo Electronic Materials Co. Ltd. | 1,135 | 86 | ||||
* | Kolmar Korea Holdings Co. Ltd. | 4,921 | 85 | |||
Innocean Worldwide Inc. | 2,014 | 84 | ||||
* | Yuanta Securities Korea Co. Ltd. | 28,078 | 83 | |||
i-SENS Inc. | 3,565 | 83 | ||||
* | Modetour Network Inc. | 3,999 | 82 | |||
* | Duk San Neolux Co. Ltd. | 2,518 | 82 | |||
Hyundai Bioland Co. Ltd. | 6,027 | 82 | ||||
* | Medipost Co. Ltd. | 4,996 | 81 | |||
Taeyoung Engineering & Construction Co. Ltd. | 9,768 | 81 |
Shares | Market Value• ($000) | |||||
Meritz Financial Group Inc. | 2,644 | 81 | ||||
LX Semicon Co. Ltd. | 847 | 81 | ||||
* | Vidente Co. Ltd. | 5,860 | 81 | |||
ST Pharm Co. Ltd. | 968 | 81 | ||||
Hanil Holdings Co. Ltd. | 7,572 | 80 | ||||
YG Entertainment Inc. | 1,439 | 80 | ||||
Harim Holdings Co. Ltd. | 9,073 | 79 | ||||
* | LX Holdings Corp. | 9,687 | 79 | |||
PharmaResearch Co. Ltd. | 1,081 | 79 | ||||
Samsung Fire & Marine Insurance Co. Ltd. Preference Shares | 604 | 78 | ||||
Soulbrain Co. Ltd. | 408 | 78 | ||||
Dongwon Industries Co. Ltd. | 438 | 77 | ||||
Advanced Process Systems Corp. | 4,113 | 77 | ||||
* | Zinus Inc. | 1,220 | 77 | |||
RFHIC Corp. | 3,212 | 76 | ||||
* | Daea TI Co. Ltd. | 19,070 | 75 | |||
* | Amicogen Inc. | 3,483 | 75 | |||
Dongwon F&B Co. Ltd. | 507 | 73 | ||||
KISWIRE Ltd. | 4,090 | 73 | ||||
* | Hanjin Transportation Co. Ltd. | 3,074 | 73 | |||
* | Pharmicell Co. Ltd. | 7,988 | 73 | |||
KT Skylife Co. Ltd. | 10,313 | 73 | ||||
CJ Corp. | 1,025 | 72 | ||||
Dongkuk Steel Mill Co. Ltd. | 5,209 | 72 | ||||
* | CMG Pharmaceutical Co. Ltd. | 26,786 | 72 | |||
* | Webzen Inc. | 3,628 | 71 | |||
* | Eubiologics Co. Ltd. | 3,552 | 71 | |||
Green Cross Corp. | 457 | 70 | ||||
* | Cafe24 Corp. | 4,294 | 70 | |||
* | Shinsung E&G Co. Ltd. | 48,649 | 70 | |||
* | Samchully Co. Ltd. | 817 | 69 | |||
Hanmi Semiconductor Co. Ltd. | 2,451 | 69 | ||||
SK Gas Ltd. | 688 | 68 | ||||
SSANGYONG C&E Co. Ltd. | 10,590 | 67 | ||||
* | CosmoAM&T Co. Ltd. | 2,067 | 67 | |||
Hyundai Greenfood Co. Ltd. | 9,454 | 66 | ||||
* | Toptec Co. Ltd. | 9,683 | 66 | |||
ENF Technology Co. Ltd. | 2,744 | 66 | ||||
Sebang Global Battery Co. Ltd. | 1,217 | 65 | ||||
* | IS Dongseo Co. Ltd. | 1,474 | 65 | |||
* | NEPES Corp. | 2,665 | 64 | |||
* | Namyang Dairy Products Co. Ltd. | 194 | 64 | |||
TES Co. Ltd. | 2,992 | 64 | ||||
Daeduck Co. Ltd. | 10,366 | 63 |
Shares | Market Value• ($000) | |||||
S-1 Corp. | 1,089 | 63 | ||||
Daishin Securities Co. Ltd. | 4,420 | 63 | ||||
KC Tech Co. Ltd. | 3,625 | 63 | ||||
* | HS Industries Co. Ltd. | 13,845 | 62 | |||
* | Able C&C Co. Ltd. | 11,003 | 62 | |||
Humasis Co. Ltd. | 3,996 | 62 | ||||
* | Youngone Holdings Co. Ltd. | 1,569 | 61 | |||
iMarketKorea Inc. | 7,289 | 61 | ||||
* | GC Cell Corp. | 1,068 | 61 | |||
Lotte Shopping Co. Ltd. | 821 | 59 | ||||
OptoElectronics Solutions Co. Ltd. | ���2,577 | 59 | ||||
* | AbClon Inc. | 5,493 | 59 | |||
* | Ananti Inc. | 7,379 | 58 | |||
Vieworks Co. Ltd. | 1,793 | 58 | ||||
* | Oscotec Inc. | 2,263 | 57 | |||
Dong-A ST Co. Ltd. | 996 | 57 | ||||
Tesna Inc. | 1,544 | 57 | ||||
* | Vaxcell-Bio Therapeutics Co. Ltd. | 1,976 | 57 | |||
* | Hyundai Elevator Co. Ltd. | 1,779 | 56 | |||
Chong Kun Dang Pharmaceutical Corp. | 695 | 56 | ||||
* | STCUBE | 10,770 | 55 | |||
* | Genexine Inc. | 1,412 | 55 | |||
NICE Holdings Co. Ltd. | 3,866 | 54 | ||||
ITM Semiconductor Co. Ltd. | 1,835 | 54 | ||||
* | Daewoong Pharmaceutical Co. Ltd. | 383 | 53 | |||
Woongjin Thinkbig Co. Ltd. | 22,181 | 53 | ||||
* | Mezzion Pharma Co. Ltd. | 387 | 53 | |||
ICD Co. Ltd. | 6,320 | 53 | ||||
* | Eutilex Co. Ltd. | 3,634 | 53 | |||
PI Advanced Materials Co. Ltd. | 1,453 | 53 | ||||
* | GOLFZON Co. Ltd. | 418 | 53 | |||
Mirae Asset Life Insurance Co. Ltd. | 15,401 | 53 | ||||
INTOPS Co. Ltd. | 1,883 | 52 | ||||
* | SCM Lifescience Co. Ltd. | 4,397 | 52 | |||
Hanwha Investment & Securities Co. Ltd. | 12,702 | 51 | ||||
* | Hancom Inc. | 2,992 | 51 | |||
* | S-MAC Co. Ltd. | 18,713 | 51 | |||
Doosan Bobcat Inc. | 1,570 | 50 | ||||
* | Hyosung Chemical Corp. | 217 | 50 | |||
Tokai Carbon Korea Co. Ltd. | 508 | 50 | ||||
Lutronic Corp. | 2,745 | 49 | ||||
Samyang Holdings Corp. | 694 | 48 | ||||
* | Tongyang Inc. | 40,643 | 48 | |||
Young Poong Corp. | 88 | 48 |
Shares | Market Value• ($000) | |||||
* | Inscobee Inc. | 20,202 | 46 | |||
Green Cross Holdings Corp. | 2,440 | 46 | ||||
Tongyang Life Insurance Co. Ltd. | 9,006 | 46 | ||||
* | NHN KCP Corp. | 2,312 | 45 | |||
Byucksan Corp. | 16,978 | 44 | ||||
* | Insun ENT Co. Ltd. | 5,066 | 44 | |||
* | ABLBio Inc. | 2,004 | 44 | |||
LS Electric Co. Ltd. | 1,180 | 43 | ||||
* | Hanall Biopharma Co. Ltd. | 2,743 | 43 | |||
Huons Co. Ltd. | 1,104 | 43 | ||||
* | Lotte Tour Development Co. Ltd. | 2,873 | 43 | |||
* | Hanwha Life Insurance Co. Ltd. | 17,142 | 42 | |||
Hyundai Autoever Corp. | 464 | 42 | ||||
Ecopro HN Co. Ltd. | 960 | 42 | ||||
Hanssem Co. Ltd. | 663 | 41 | ||||
1 | NS Shopping Co. Ltd. | 3,459 | 41 | |||
KCC Glass Corp. | 840 | 41 | ||||
* | Daewoong Co. Ltd. | 1,595 | 40 | |||
* | Homecast Co. Ltd. | 14,960 | 40 | |||
* | iNtRON Biotechnology Inc. | 2,567 | 40 | |||
* | NKMax Co. Ltd. | 3,063 | 40 | |||
* | Eoflow Co. Ltd. | 2,336 | 40 | |||
CJ Freshway Corp. | 1,235 | 39 | ||||
Boryung Pharmaceutical Co. Ltd. | 3,724 | 39 | ||||
BH Co. Ltd. | 2,308 | 38 | ||||
* | Hyosung Heavy Industries Corp. | 814 | 38 | |||
E1 Corp. | 958 | 37 | ||||
Kwang Dong Pharmaceutical Co. Ltd. | 6,101 | 37 | ||||
* | DIO Corp. | 1,349 | 37 | |||
Huchems Fine Chemical Corp. | 1,974 | 37 | ||||
* | Chabiotech Co. Ltd. | 2,562 | 37 | |||
Korea Petrochemical Ind Co. Ltd. | 249 | 36 | ||||
Korea Real Estate Investment & Trust Co. Ltd. | 19,485 | 36 | ||||
HDC Holdings Co. Ltd. | 5,695 | 36 | ||||
Samyang Corp. | 836 | 36 | ||||
Korea Electric Terminal Co. Ltd. | 722 | 35 | ||||
Handsome Co. Ltd. | 1,165 | 35 | ||||
* | CUROCOM Co. Ltd. | 36,732 | 35 | |||
Hansae Co. Ltd. | 1,819 | 35 | ||||
* | Kumho Tire Co. Inc. | 10,235 | 34 | |||
LF Corp. | 2,298 | 34 | ||||
* | Dentium Co. Ltd. | 628 | 32 | |||
* | MedPacto Inc. | 1,102 | 32 |
Shares | Market Value• ($000) | |||||
Daishin Securities Co. Ltd. Preference Shares | 2,477 | 31 | ||||
L&C Bio Co. Ltd. | 1,173 | 31 | ||||
Daekyo Co. Ltd. | 10,019 | 30 | ||||
Hansol Paper Co. Ltd. | 2,818 | 29 | ||||
Sam Chun Dang Pharm Co. Ltd. | 917 | 28 | ||||
LX Hausys Ltd. | 610 | 28 | ||||
JW Pharmaceutical Corp. | 1,264 | 27 | ||||
* | Samsung Pharmaceutical Co. Ltd. | 7,549 | 27 | |||
DongKook Pharmaceutical Co. Ltd. | 1,527 | 27 | ||||
* | HLB Therapeutics Co. Ltd. | 2,125 | 27 | |||
Humedix Co. Ltd. | 1,444 | 27 | ||||
Bukwang Pharmaceutical Co. Ltd. | 2,512 | 26 | ||||
Dong-A Socio Holdings Co. Ltd. | 303 | 26 | ||||
SL Corp. | 1,287 | 26 | ||||
* | Taekwang Industrial Co. Ltd. | 31 | 26 | |||
* | CJ CGV Co. Ltd. | 1,181 | 26 | |||
* | Neowiz | 1,279 | 26 | |||
Hyundai Home Shopping Network Corp. | 528 | 26 | ||||
* | Sambu Engineering & Construction Co. Ltd. | 14,237 | 26 | |||
* | Binex Co. Ltd. | 2,235 | 25 | |||
* | CrystalGenomics Inc. | 5,185 | 25 | |||
Huons Global Co. Ltd. | 996 | 25 | ||||
Halla Holdings Corp. | 703 | 24 | ||||
Namhae Chemical Corp. | 2,835 | 23 | ||||
Hyundai Livart Furniture Co. Ltd. | 2,006 | 23 | ||||
* | Enzychem Lifesciences Corp. | 838 | 23 | |||
* | OliX Pharmaceuticals Inc. | 981 | 23 | |||
* | Hanwha General Insurance Co. Ltd. | 6,091 | 22 | |||
Hyundai Construction Equipment Co. Ltd. | 780 | 22 | ||||
* | Peptron Inc. | 2,777 | 22 | |||
Korea United Pharm Inc. | 573 | 22 | ||||
Sungwoo Hitech Co. Ltd. | 5,271 | 21 | ||||
* | Solid Inc. | 4,031 | 21 | |||
* | Yungjin Pharmaceutical Co. Ltd. | 4,897 | 20 | |||
* | Dongsung Pharmaceutical Co. Ltd. | 2,818 | 20 | |||
AK Holdings Inc. | 1,051 | 19 | ||||
Dae Hwa Pharmaceutical Co. Ltd. | 2,662 | 19 | ||||
* | Nexen Tire Corp. | 3,685 | 19 | |||
* | Studio Dragon Corp. | 265 | 19 | |||
* | KH FEELUX Co. Ltd. | 10,707 | 18 |
Shares | Market Value• ($000) | |||||
Ilyang Pharmaceutical Co. Ltd. | 837 | 18 | ||||
LG HelloVision Co. Ltd. | 4,383 | 18 | ||||
* | Kuk-il Paper Manufacturing Co. Ltd. | 5,682 | 18 | |||
* | Anterogen Co. Ltd. | 803 | 17 | |||
* | Namsun Aluminum Co. Ltd. | 8,724 | 17 | |||
BGF Co. Ltd. | 3,740 | 16 | ||||
* | Samsung Biologics Co. Ltd. Rights Exp. 4/8/22 | 126 | 15 | |||
Hankook & Co. Co. Ltd. | 1,208 | 14 | ||||
* | Komipharm International Co. Ltd. | 1,947 | 14 | |||
Soulbrain Holdings Co. Ltd. | 579 | 14 | ||||
Songwon Industrial Co. Ltd. | 652 | 11 | ||||
* | Lock&Lock Co. Ltd. | 1,322 | 11 | |||
Jeil Pharmaceutical Co. Ltd. | 482 | 11 | ||||
* | Seojin System Co. Ltd. | 257 | 7 | |||
Chongkundang Holdings Corp. | 97 | 6 | ||||
F&F Holdings Co. Ltd. | 242 | 6 | ||||
*,1 | Y2 Solution Co. Ltd. | 2,639 | 3 | |||
122,291 | ||||||
Spain (1.0%) | ||||||
Banco Bilbao Vizcaya Argentaria SA | 976,867 | 5,796 | ||||
* | Amadeus IT Group SA | 64,683 | 4,268 | |||
Industria de Diseno Textil SA | 154,340 | 4,026 | ||||
2 | Cellnex Telecom SA | 85,254 | 3,856 | |||
Telefonica SA | 792,061 | 3,783 | ||||
CaixaBank SA | 713,294 | 2,343 | ||||
*,2 | Aena SME SA | 10,420 | 1,701 | |||
Bankinter SA | 204,108 | 1,159 | ||||
Grifols SA | 49,389 | 936 | ||||
Merlin Properties Socimi SA | 83,564 | 932 | ||||
* | Banco de Sabadell SA | 738,160 | 638 | |||
Fluidra SA | 14,519 | 440 | ||||
Acerinox SA | 31,506 | 400 | ||||
Viscofan SA | 5,505 | 341 | ||||
Grifols SA Preference Shares Class B | 17,297 | 214 | ||||
Inmobiliaria Colonial Socimi SA | 19,369 | 164 | ||||
* | Solaria Energia y Medio Ambiente SA | 8,268 | 153 | |||
Laboratorios Farmaceuticos Rovi SA | 1,295 | 105 | ||||
Mapfre SA | 43,646 | 86 | ||||
Faes Farma SA | 19,304 | 74 | ||||
Pharma Mar SA | 1,085 | 66 | ||||
Zardoya Otis SA | 8,137 | 64 |
Shares | Market Value• ($000) | |||||
2 | Aedas Homes SA | 1,931 | 53 | |||
Sacyr SA | 21,646 | 51 | ||||
Cia de Distribucion Integral Logista Holdings SA | 2,721 | 49 | ||||
2 | Unicaja Banco SA | 50,649 | 48 | |||
*,2 | Neinor Homes SA | 3,136 | 42 | |||
Construcciones y Auxiliar de Ferrocarriles SA | 1,148 | 40 | ||||
Almirall SA | 2,839 | 37 | ||||
Lar Espana Real Estate Socimi SA | 6,008 | 35 | ||||
2 | Gestamp Automocion SA | 6,564 | 27 | |||
2 | Metrovacesa SA | 3,601 | 26 | |||
2 | Global Dominion Access SA | 4,668 | 22 | |||
* | Distribuidora Internacional de Alimentacion SA | 1,053,042 | 16 | |||
Prosegur Cia de Seguridad SA | 6,488 | 15 | ||||
* | Ence Energia y Celulosa SA | 1,476 | 5 | |||
32,011 | ||||||
Sweden (2.3%) | ||||||
Atlas Copco AB Class B | 129,422 | 5,848 | ||||
Investor AB Class A | 214,889 | 4,752 | ||||
Telefonaktiebolaget LM Ericsson Class B | 466,232 | 4,290 | ||||
Assa Abloy AB Class B | 144,329 | 3,788 | ||||
Skandinaviska Enskilda Banken AB Class A | 239,926 | 2,764 | ||||
Essity AB Class B | 102,259 | 2,632 | ||||
H & M Hennes & Mauritz AB Class B | 152,289 | 2,542 | ||||
Boliden AB | 55,642 | 2,475 | ||||
Epiroc AB Class A | 118,596 | 2,229 | ||||
Svenska Handelsbanken AB Class A | 231,038 | 2,196 | ||||
Svenska Cellulosa AB SCA Class B | 125,545 | 2,048 | ||||
Industrivarden AB Class A | 70,762 | 1,954 | ||||
Investor AB Class B | 89,643 | 1,825 | ||||
Getinge AB Class B | 43,351 | 1,683 | ||||
Skanska AB Class B | 72,025 | 1,630 | ||||
Telia Co. AB | 437,737 | 1,628 | ||||
Tele2 AB Class B | 116,644 | 1,546 | ||||
SKF AB Class B | 82,191 | 1,518 | ||||
Nibe Industrier AB Class B | 157,692 | 1,404 | ||||
EQT AB | 41,595 | 1,392 | ||||
Trelleborg AB Class B | 63,839 | 1,283 | ||||
* | Kinnevik AB Class B | 49,246 | 1,254 | |||
Electrolux AB Class B | 59,342 | 1,063 | ||||
Castellum AB | 43,211 | 959 | ||||
Atlas Copco AB Class A | 17,471 | 896 |
Shares | Market Value• ($000) | |||||
* | Fastighets AB Balder Class B | 12,373 | 771 | |||
Securitas AB Class B | 62,137 | 752 | ||||
Elekta AB Class B | 82,248 | 712 | ||||
* | Swedish Orphan Biovitrum AB | 33,976 | 699 | |||
*,2 | Sinch AB | 79,429 | 670 | |||
2 | Thule Group AB | 16,286 | 640 | |||
* | SSAB AB Class B | 113,325 | 613 | |||
Avanza Bank Holding AB | 20,686 | 585 | ||||
Husqvarna AB Class B | 47,768 | 575 | ||||
Sagax AB Class B | 20,730 | 564 | ||||
AddTech AB Class B | 33,811 | 555 | ||||
Beijer Ref AB Class B | 34,793 | 524 | ||||
2 | Dometic Group AB | 49,474 | 476 | |||
Fabege AB | 31,670 | 472 | ||||
Samhallsbyggnadsbolaget i Norden AB B Shares | 101,997 | 472 | ||||
Hexpol AB | 44,331 | 454 | ||||
Epiroc AB Class B | 25,119 | 407 | ||||
Vitrolife AB | 11,354 | 380 | ||||
Holmen AB Class B | 7,331 | 359 | ||||
MIPS AB | 4,289 | 333 | ||||
L E Lundbergforetagen AB Class B | 6,798 | 328 | ||||
* | Nordic Entertainment Group AB Class B | 9,038 | 307 | |||
* | Sectra AB Class B | 18,382 | 292 | |||
Samhallsbyggnadsbolaget i Norden AB | 92,294 | 278 | ||||
Investment AB Latour Class B | 9,224 | 255 | ||||
* | Movida Participacoes SA | 70,100 | 221 | |||
* | SSAB AB Class A | 35,066 | 219 | |||
BillerudKorsnas AB | 15,014 | 211 | ||||
Intrum AB | 7,757 | 198 | ||||
Instalco AB | 25,905 | 198 | ||||
Nyfosa AB | 13,637 | 191 | ||||
AAK AB | 10,027 | 182 | ||||
JM AB | 5,734 | 178 | ||||
Nordnet AB publ | 10,170 | 174 | ||||
*,2 | Boozt AB | 10,491 | 170 | |||
Corem Property Group AB Preference Shares | 4,544 | 151 | ||||
Biotage AB | 7,677 | 138 | ||||
Bure Equity AB | 4,045 | 128 | ||||
Wihlborgs Fastigheter AB | 6,288 | 124 | ||||
2 | Bravida Holding AB | 10,003 | 121 | |||
Mycronic AB | 6,235 | 118 | ||||
Loomis AB Class B | 4,199 | 118 | ||||
Medicover AB Class B | 4,523 | 109 | ||||
* | Electrolux Professional AB Class B | 16,944 | 98 | |||
Granges AB | 8,635 | 92 | ||||
* | Cint Group AB | 9,474 | 89 | |||
Axfood AB | 3,365 | 88 |
Shares | Market Value• ($000) | |||||
Wallenstam AB Class B | 5,999 | 88 | ||||
Corem Property Group AB Class B | 34,951 | 87 | ||||
Arjo AB Class B | 9,998 | 86 | ||||
Nolato AB Class B | 8,930 | 84 | ||||
* | BHG Group AB | 9,253 | 82 | |||
Bilia AB Class A | 6,238 | 81 | ||||
* | Pandox AB Class B | 5,577 | 81 | |||
INVISIO AB | 5,304 | 79 | ||||
Vitec Software Group AB Class B | 1,865 | 79 | ||||
Lindab International AB | 3,168 | 76 | ||||
HMS Networks AB | 1,791 | 76 | ||||
* | Modern Times Group MTG AB Class B | 5,579 | 72 | |||
Peab AB Class B | 6,687 | 65 | ||||
Troax Group AB | 2,415 | 64 | ||||
Concentric AB | 2,640 | 60 | ||||
Ratos AB Class B | 9,539 | 51 | ||||
NCC AB Class B | 3,556 | 50 | ||||
Systemair AB | 5,860 | 49 | ||||
*,2 | Scandic Hotels Group AB | 10,650 | 47 | |||
* | Mekonomen AB | 3,747 | 46 | |||
Catena AB | 856 | 45 | ||||
SkiStar AB | 2,860 | 42 | ||||
2 | Munters Group AB | 5,539 | 37 | |||
Hufvudstaden AB Class A | 2,748 | 36 | ||||
* | VNV Global AB | 4,885 | 34 | |||
* | SAS AB | 300,386 | 30 | |||
Clas Ohlson AB Class B | 1,879 | 21 | ||||
Investment AB Oresund | 1,595 | 21 | ||||
2 | Resurs Holding AB | 6,371 | 18 | |||
Nobia AB | 3,638 | 16 | ||||
* | Collector AB | 4,677 | 16 | |||
Bonava AB Class B | 2,184 | 16 | ||||
Dios Fastigheter AB | 1,570 | 16 | ||||
Svenska Handelsbanken AB Class B | 1,415 | 15 | ||||
*,2 | Attendo AB | 3,886 | 13 | |||
* | Karo Pharma AB | 2,117 | 13 | |||
* | Camurus AB | 817 | 13 | |||
Cloetta AB Class B | 4,552 | 11 | ||||
* | Solid Forsakring AB | 637 | 3 | |||
*,2 | Oncopeptides AB | 114 | — | |||
73,207 | ||||||
Switzerland (6.6%) | ||||||
Nestle SA (Registered) | 391,416 | 51,000 | ||||
Roche Holding AG (XVTX) | 86,091 | 32,606 | ||||
Novartis AG (Registered) | 288,279 | 25,337 | ||||
Zurich Insurance Group AG | 20,268 | 9,303 | ||||
Lonza Group AG (Registered) | 11,126 | 7,698 | ||||
Roche Holding AG (XSWX) | 15,817 | 6,602 | ||||
Givaudan SA (Registered) | 1,380 | 5,762 |
Shares | Market Value• ($000) | |||||
Alcon Inc. | 63,428 | 4,900 | ||||
Partners Group Holding AG | 3,041 | 4,111 | ||||
Swiss Re AG | 39,476 | 3,772 | ||||
Geberit AG (Registered) | 5,357 | 3,504 | ||||
Sonova Holding AG (Registered) | 8,798 | 3,406 | ||||
Swiss Life Holding AG (Registered) | 5,523 | 3,370 | ||||
Credit Suisse Group AG (Registered) | 312,919 | 2,621 | ||||
Julius Baer Group Ltd. | 40,084 | 2,347 | ||||
Chocoladefabriken Lindt & Spruengli AG | 219 | 2,323 | ||||
Kuehne + Nagel International AG (Registered) | 8,259 | 2,252 | ||||
Straumann Holding AG (Registered) | 1,329 | 2,111 | ||||
Swisscom AG (Registered) | 3,303 | 1,979 | ||||
Logitech International SA (Registered) | 25,600 | 1,916 | ||||
Schindler Holding AG | 7,982 | 1,831 | ||||
Baloise Holding AG (Registered) | 10,906 | 1,829 | ||||
Adecco Group AG (Registered) | 33,606 | 1,587 | ||||
Swiss Prime Site AG (Registered) | 16,072 | 1,575 | ||||
Vifor Pharma AG | 8,414 | 1,477 | ||||
2 | VAT Group AG | 3,606 | 1,363 | |||
Georg Fischer AG (Registered) | 1,100 | 1,353 | ||||
Helvetia Holding AG (Registered) | 10,883 | 1,324 | ||||
2 | Galenica AG | 17,571 | 1,236 | |||
Barry Callebaut AG (Registered) | 496 | 1,144 | ||||
Chocoladefabriken Lindt & Spruengli AG (Registered) | 10 | 1,122 | ||||
Temenos AG (Registered) | 10,641 | 1,070 | ||||
* | Flughafen Zurich AG (Registered) | 5,927 | 1,066 | |||
* | SIG Combibloc Group AG | 45,283 | 1,016 | |||
* | Clariant AG (Registered) | 55,400 | 1,000 | |||
* | Mobimo Holding AG (Registered) | 2,726 | 915 | |||
Tecan Group AG (Registered) | 2,093 | 906 | ||||
* | ams-OSRAM AG | 43,804 | 682 | |||
Belimo Holding AG (Registered) | 1,254 | 665 | ||||
Bachem Holding AG (Registered) Class B | 1,034 | 615 | ||||
PSP Swiss Property AG (Registered) | 4,539 | 587 |
Shares | Market Value• ($000) | |||||
Cembra Money Bank AG | 8,323 | 571 | ||||
Valiant Holding AG (Registered) | 4,965 | 516 | ||||
EMS-Chemie Holding AG (Registered) | 515 | 509 | ||||
* | Valora Holding AG (Registered) | 2,245 | 445 | |||
* | Siegfried Holding AG (Registered) | 496 | 375 | |||
Comet Holding AG (Registered) | 1,191 | 362 | ||||
Forbo Holding AG (Registered) | 205 | 351 | ||||
* | Dufry AG (Registered) | 7,363 | 344 | |||
Bucher Industries AG (Registered) | 651 | 287 | ||||
* | Idorsia Ltd. | 10,577 | 212 | |||
* | Zur Rose Group AG | 1,110 | 193 | |||
Inficon Holding AG (Registered) | 145 | 170 | ||||
*,2 | Sensirion Holding AG | 1,275 | 144 | |||
Interroll Holding AG (Registered) | 34 | 126 | ||||
Daetwyler Holding AG | 364 | 125 | ||||
dormakaba Holding AG | 223 | 123 | ||||
Vontobel Holding AG (Registered) | 1,489 | 118 | ||||
Banque Cantonale Vaudoise (Registered) | 1,294 | 111 | ||||
* | IRB Brasil Resseguros SA | 179,000 | 106 | |||
Emmi AG (Registered) | 88 | 103 | ||||
DKSH Holding AG | 1,191 | 101 | ||||
Allreal Holding AG (Registered) | 433 | 94 | ||||
Swissquote Group Holding SA (Registered) | 527 | 91 | ||||
Stadler Rail AG | 2,348 | 91 | ||||
* | Softwareone Holding AG | 4,685 | 85 | |||
* | COSMO Pharmaceuticals NV | 1,220 | 81 | |||
* | u-blox Holding AG | 1,078 | 76 | |||
* | Landis+Gyr Group AG | 1,145 | 75 | |||
Kardex Holding AG (Registered) | 264 | 69 | ||||
Burckhardt Compression Holding AG | 136 | 67 | ||||
* | Meyer Burger Technology AG | 167,822 | 64 | |||
*,1 | Aryzta AG | 54,601 | 62 | |||
Schindler Holding AG (Registered) | 272 | 61 | ||||
VZ Holding AG | 666 | 60 | ||||
* | Dottikon Es Holding AG (Registered) | 248 | 60 | |||
Bystronic AG | 49 | 57 | ||||
SFS Group AG | 377 | 55 |
Shares | Market Value• ($000) | |||||
* | Ascom Holding AG (Registered) | 4,486 | 51 | |||
Zehnder Group AG | 531 | 46 | ||||
Leonteq AG | 595 | 41 | ||||
St. Galler Kantonalbank AG (Registered) | 77 | 38 | ||||
OC Oerlikon Corp. AG (Registered) | 4,180 | 37 | ||||
Vetropack Holding AG (Registered) Class A | 673 | 34 | ||||
* | Basilea Pharmaceutica AG (Registered) | 739 | 30 | |||
Schweiter Technologies AG | 21 | 27 | ||||
LEM Holding SA (Registered) | 11 | 26 | ||||
* | Komax Holding AG (Registered) | 96 | 25 | |||
* | EFG International AG | 2,726 | 21 | |||
Ypsomed Holding AG (Registered) | 120 | 21 | ||||
* | Implenia AG (Registered) | 828 | 21 | |||
Bell Food Group AG (Registered) | 63 | 19 | ||||
Intershop Holding AG | 28 | 19 | ||||
* | Autoneum Holding AG | 101 | 17 | |||
Arbonia AG | 656 | 15 | ||||
* | ALSO Holding AG (Registered) | 55 | 15 | |||
208,326 | ||||||
Taiwan (6.3%) | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 3,320,630 | 71,392 | ||||
MediaTek Inc. | 207,145 | 8,186 | ||||
Hon Hai Precision Industry Co. Ltd. | 1,603,400 | 5,956 | ||||
United Microelectronics Corp. | 1,618,800 | 3,050 | ||||
Delta Electronics Inc. | 287,496 | 2,562 | ||||
Formosa Plastics Corp. | 622,000 | 2,349 | ||||
Cathay Financial Holding Co. Ltd. | 1,002,052 | 2,253 | ||||
Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 20,667 | 2,212 | ||||
Chunghwa Telecom Co. Ltd. | 494,000 | 2,196 | ||||
Nan Ya Plastics Corp. | 691,000 | 2,179 | ||||
Mega Financial Holding Co. Ltd. | 1,567,000 | 2,112 | ||||
China Steel Corp. | 1,621,084 | 2,108 | ||||
Evergreen Marine Corp. Taiwan Ltd. | 360,241 | 1,892 | ||||
E.Sun Financial Holding Co. Ltd. | 1,562,526 | 1,652 | ||||
ASE Technology Holding Co. Ltd. | 438,902 | 1,586 |
Shares | Market Value• ($000) | |||||
Unimicron Technology Corp. | 169,000 | 1,571 | ||||
Chailease Holding Co. Ltd. | 167,292 | 1,518 | ||||
Uni-President Enterprises Corp. | 562,000 | 1,352 | ||||
China Development Financial Holding Corp. | 1,889,308 | 1,294 | ||||
Novatek Microelectronics Corp. | 77,995 | 1,293 | ||||
Yuanta Financial Holding Co. Ltd. | 1,347,320 | 1,204 | ||||
Quanta Computer Inc. | 355,000 | 1,187 | ||||
Yageo Corp. | 66,791 | 1,096 | ||||
First Financial Holding Co. Ltd. | 1,181,172 | 1,088 | ||||
Taiwan Cooperative Financial Holding Co. Ltd. | 1,146,088 | 1,087 | ||||
Formosa Chemicals & Fibre Corp. | 363,000 | 1,029 | ||||
Asustek Computer Inc. | 77,000 | 1,027 | ||||
Realtek Semiconductor Corp. | 62,294 | 1,027 | ||||
Largan Precision Co. Ltd. | 14,000 | 1,017 | ||||
* | Yang Ming Marine Transport Corp. | 238,000 | 1,006 | |||
Taiwan Cement Corp. | 589,376 | 1,001 | ||||
Taishin Financial Holding Co. Ltd. | 1,410,612 | 989 | ||||
Ruentex Development Co. Ltd. | 379,400 | 980 | ||||
Hua Nan Financial Holdings Co. Ltd. | 1,199,294 | 951 | ||||
Hotai Motor Co. Ltd. | 38,000 | 860 | ||||
SinoPac Financial Holdings Co. Ltd. | 1,325,000 | 814 | ||||
AU Optronics Corp. | 1,060,000 | 794 | ||||
WPG Holdings Ltd. | 383,680 | 766 | ||||
Wan Hai Lines Ltd. | 109,400 | 745 | ||||
Globalwafers Co. Ltd. | 30,000 | 743 | ||||
Lite-On Technology Corp. | 286,000 | 703 | ||||
Airtac International Group | 20,603 | 685 | ||||
Innolux Corp. | 1,090,000 | 663 | ||||
Synnex Technology International Corp. | 255,000 | 660 | ||||
Win Semiconductors Corp. | 60,000 | 657 | ||||
Shanghai Commercial & Savings Bank Ltd. | 390,000 | 642 | ||||
Bank of Kaohsiung Co. Ltd. | 1,313,877 | 634 | ||||
O-Bank Co. Ltd. | 1,995,000 | 631 | ||||
Accton Technology Corp. | 69,000 | 626 | ||||
eMemory Technology Inc. | 9,000 | 607 | ||||
Taiwan Mobile Co. Ltd. | 162,000 | 599 | ||||
E Ink Holdings Inc. | 110,000 | 593 |
Shares | Market Value• ($000) | |||||
Vanguard International Semiconductor Corp. | 126,000 | 572 | ||||
Shin Kong Financial Holding Co. Ltd. | 1,409,287 | 572 | ||||
President Chain Store Corp. | 60,000 | 561 | ||||
Eclat Textile Co. Ltd. | 25,000 | 518 | ||||
Nan Ya Printed Circuit Board Corp. | 27,000 | 517 | ||||
Pegatron Corp. | 201,000 | 498 | ||||
* | China Petrochemical Development Corp. | 1,116,386 | 482 | |||
Micro-Star International Co. Ltd. | 84,000 | 474 | ||||
Sino-American Silicon Products Inc. | 72,000 | 473 | ||||
Foxconn Technology Co. Ltd. | 200,000 | 460 | ||||
Winbond Electronics Corp. | 381,000 | 459 | ||||
Pou Chen Corp. | 362,000 | 417 | ||||
Chang Hwa Commercial Bank Ltd. | 640,713 | 407 | ||||
Compal Electronics Inc. | 439,000 | 400 | ||||
Catcher Technology Co. Ltd. | 77,000 | 395 | ||||
ASPEED Technology Inc. | 4,000 | 393 | ||||
Alchip Technologies Ltd. | 10,000 | 391 | ||||
* | Walsin Technology Corp. | 72,000 | 381 | |||
Asia Cement Corp. | 235,000 | 380 | ||||
Macronix International Co. Ltd. | 236,000 | 374 | ||||
Radiant Opto-Electronics Corp. | 101,000 | 365 | ||||
Acter Group Corp. Ltd. | 46,000 | 363 | ||||
Kindom Development Co. Ltd. | 270,100 | 360 | ||||
Wiwynn Corp. | 10,000 | 357 | ||||
Giant Manufacturing Co. Ltd. | 34,000 | 353 | ||||
Phison Electronics Corp. | 19,000 | 352 | ||||
Far EasTone Telecommunications Co. Ltd. | 142,000 | 351 | ||||
Taiwan High Speed Rail Corp. | 330,000 | 349 | ||||
Merida Industry Co. Ltd. | 34,000 | 346 | ||||
Taichung Commercial Bank Co. Ltd. | 713,571 | 342 | ||||
Acer Inc. | 322,000 | 334 | ||||
Elite Material Co. Ltd. | 34,000 | 333 | ||||
Hotai Finance Co. Ltd. | 75,000 | 333 | ||||
Walsin Lihwa Corp. | 326,000 | 330 | ||||
* | China Airlines Ltd. | 322,000 | 328 | |||
* | Oneness Biotech Co. Ltd. | 37,000 | 328 | |||
* | Eva Airways Corp. | 272,932 | 322 | |||
Hiwin Technologies Corp. | 33,483 | 320 |
Shares | Market Value• ($000) | |||||
Voltronic Power Technology Corp. | 6,152 | 320 | ||||
* | TA Chen Stainless Pipe | 166,459 | 318 | |||
Feng TAY Enterprise Co. Ltd. | 42,400 | 316 | ||||
Gigabyte Technology Co. Ltd. | 61,000 | 313 | ||||
Nanya Technology Corp. | 107,000 | 300 | ||||
Chroma ATE Inc. | 44,000 | 300 | ||||
Lien Hwa Industrial Holdings Corp. | 125,079 | 300 | ||||
Yulon Finance Corp. | 41,045 | 299 | ||||
Simplo Technology Co. Ltd. | 26,000 | 292 | ||||
Charoen Pokphand Enterprise | 96,000 | 290 | ||||
IBF Financial Holdings Co. Ltd. | 508,874 | 288 | ||||
Senao International Co. Ltd. | 238,000 | 279 | ||||
Ruentex Industries Ltd. | 66,560 | 277 | ||||
Wistron Corp. | 261,000 | 275 | ||||
Kinsus Interconnect Technology Corp. | 33,000 | 275 | ||||
Topco Scientific Co. Ltd. | 44,000 | 273 | ||||
Taiwan Business Bank | 665,437 | 265 | ||||
Test Research Inc. | 117,000 | 263 | ||||
Jess-Link Products Co. Ltd. | 158,000 | 263 | ||||
Faraday Technology Corp. | 26,000 | 261 | ||||
Powertech Technology Inc. | 77,000 | 261 | ||||
Rich Development Co. Ltd. | 793,000 | 260 | ||||
momo.com Inc. | 7,200 | 256 | ||||
Sigurd Microelectronics Corp. | 121,000 | 249 | ||||
Cheng Shin Rubber Industry Co. Ltd. | 193,000 | 247 | ||||
King Yuan Electronics Co. Ltd. | 154,000 | 243 | ||||
Huaku Development Co. Ltd. | 74,000 | 240 | ||||
Sinbon Electronics Co. Ltd. | 25,000 | 240 | ||||
Tripod Technology Corp. | 52,000 | 238 | ||||
Wisdom Marine Lines Co. Ltd. | 70,543 | 230 | ||||
Jih Sun Financial Holdings Co. Ltd. | 519,043 | 229 | ||||
Apex International Co. Ltd. | 63,000 | 227 | ||||
Elan Microelectronics Corp. | 38,000 | 226 | ||||
China Electric Manufacturing Corp. | 369,540 | 225 | ||||
YungShin Global Holding Corp. | 148,000 | 225 |
Shares | Market Value• ($000) | |||||
Tung Ho Steel Enterprise Corp. | 89,110 | 224 | ||||
Xxentria Technology Materials Corp. | 89,000 | 221 | ||||
Poya International Co. Ltd. | 15,180 | 220 | ||||
Teco Electric & Machinery Co. Ltd. | 204,000 | 220 | ||||
Taiyen Biotech Co. Ltd. | 182,000 | 218 | ||||
* | Etron Technology Inc. | 75,085 | 217 | |||
Radium Life Tech Co. Ltd. | 573,200 | 217 | ||||
Inventec Corp. | 234,000 | 216 | ||||
Systex Corp. | 73,000 | 215 | ||||
Aten International Co. Ltd. | 74,000 | 214 | ||||
AP Memory Technology Corp. | 16,000 | 213 | ||||
* | Orient Semiconductor Electronics Ltd. | 256,000 | 211 | |||
Lotes Co. Ltd. | 8,115 | 211 | ||||
King's Town Bank Co. Ltd. | 142,000 | 205 | ||||
Run Long Construction Co. Ltd. | 102,340 | 203 | ||||
ITEQ Corp. | 43,466 | 203 | ||||
Makalot Industrial Co. Ltd. | 25,707 | 203 | ||||
Taiwan Cogeneration Corp. | 151,000 | 200 | ||||
Global Unichip Corp. | 12,000 | 199 | ||||
International Games System Co. Ltd. | 8,000 | 198 | ||||
* | HTC Corp. | 93,000 | 196 | |||
Sunplus Technology Co. Ltd. | 158,000 | 195 | ||||
Nien Made Enterprise Co. Ltd. | 15,000 | 194 | ||||
YFY Inc. | 159,000 | 192 | ||||
Tong Hsing Electronic Industries Ltd. | 18,310 | 192 | ||||
Fusheng Precision Co. Ltd. | 27,000 | 191 | ||||
Chicony Electronics Co. Ltd. | 59,000 | 190 | ||||
Feng Hsin Steel Co. Ltd. | 62,000 | 187 | ||||
Advanced International Multitech Co. Ltd. | 61,000 | 186 | ||||
Chipbond Technology Corp. | 74,000 | 184 | ||||
Elite Semiconductor Microelectronics Technology Inc. | 35,000 | 184 | ||||
Wafer Works Corp. | 69,923 | 184 | ||||
* | AGV Products Corp. | 466,000 | 181 | |||
Standard Foods Corp. | 98,000 | 178 | ||||
Taiwan Surface Mounting Technology Corp. | 42,000 | 177 |
Shares | Market Value• ($000) | |||||
Compeq Manufacturing Co. Ltd. | 101,000 | 175 | ||||
Great Wall Enterprise Co. Ltd. | 89,907 | 175 | ||||
Globe Union Industrial Corp. | 330,000 | 174 | ||||
WT Microelectronics Co. Ltd. | 58,000 | 174 | ||||
Kuo Yang Construction Co. Ltd. | 207,000 | 172 | ||||
Fitipower Integrated Technology Inc. | 21,083 | 171 | ||||
Sitronix Technology Corp. | 16,000 | 170 | ||||
King Slide Works Co. Ltd. | 11,000 | 169 | ||||
Chung Hung Steel Corp. | 113,000 | 168 | ||||
Posiflex Technology Inc. | 45,000 | 165 | ||||
Chief Telecom Inc. | 17,000 | 165 | ||||
Greatek Electronics Inc. | 62,000 | 162 | ||||
Kung Long Batteries Industrial Co. Ltd. | 33,000 | 162 | ||||
Shinkong Synthetic Fibers Corp. | 220,000 | 161 | ||||
Nichidenbo Corp. | 85,000 | 161 | ||||
Silicon Integrated Systems Corp. | 198,255 | 160 | ||||
Taiwan FamilyMart Co. Ltd. | 20,000 | 159 | ||||
Taiwan Glass Industry Corp. | 191,000 | 159 | ||||
Vivotek Inc. | 60,000 | 159 | ||||
Sunny Friend Environmental Technology Co. Ltd. | 22,000 | 157 | ||||
Capital Securities Corp. | 273,000 | 154 | ||||
Sporton International Inc. | 21,450 | 154 | ||||
Hong Pu Real Estate Development Co. Ltd. | 191,000 | 154 | ||||
Formosa International Hotels Corp. | 24,000 | 153 | ||||
FSP Technology Inc. | 95,000 | 152 | ||||
KEE TAI Properties Co. Ltd. | 341,000 | 151 | ||||
Pan Jit International Inc. | 40,400 | 149 | ||||
Via Technologies Inc. | 64,000 | 147 | ||||
Wei Chuan Foods Corp. | 188,000 | 146 | ||||
Ardentec Corp. | 79,000 | 145 | ||||
* | Mercuries Life Insurance Co. Ltd. | 455,748 | 145 | |||
Tyntek Corp. | 151,000 | 144 | ||||
Taiwan Fertilizer Co. Ltd. | 58,000 | 143 | ||||
* | Microbio Co. Ltd. | 63,240 | 143 | |||
Zhen Ding Technology Holding Ltd. | 43,000 | 143 | ||||
Rexon Industrial Corp. Ltd. | 93,000 | 143 | ||||
Cheng Loong Corp. | 115,000 | 142 |
Shares | Market Value• ($000) | |||||
* | Medigen Vaccine Biologics Corp. | 17,000 | 142 | |||
Advanced Energy Solution Holding Co. Ltd. | 3,000 | 142 | ||||
Wah Lee Industrial Corp. | 36,720 | 141 | ||||
Grape King Bio Ltd. | 26,000 | 141 | ||||
Bizlink Holding Inc. | 13,000 | 141 | ||||
* | CMC Magnetics Corp. | 356,114 | 140 | |||
FocalTech Systems Co. Ltd. | 25,203 | 140 | ||||
Prince Housing & Development Corp. | 282,000 | 139 | ||||
Jentech Precision Industrial Co. Ltd. | 10,000 | 139 | ||||
AURAS Technology Co. Ltd. | 15,000 | 139 | ||||
Taiwan PCB Techvest Co. Ltd. | 75,000 | 138 | ||||
Goldsun Building Materials Co. Ltd. | 141,753 | 135 | ||||
RichWave Technology Corp. | 17,400 | 135 | ||||
* | Shihlin Paper Corp. | 59,000 | 131 | |||
Clevo Co. | 118,000 | 130 | ||||
* | Career Technology MFG. Co. Ltd. | 152,513 | 130 | |||
CHC Healthcare Group | 93,000 | 130 | ||||
* | Ambassador Hotel | 112,000 | 130 | |||
Sonix Technology Co. Ltd. | 41,000 | 129 | ||||
PharmaEngine Inc. | 46,000 | 129 | ||||
Getac Holdings Corp. | 60,000 | 127 | ||||
Advanced Wireless Semiconductor Co. | 34,370 | 127 | ||||
Foxsemicon Integrated Technology Inc. | 16,000 | 126 | ||||
Evergreen International Storage & Transport Corp. | 91,000 | 124 | ||||
Tainan Spinning Co. Ltd. | 148,000 | 124 | ||||
Egis Technology Inc. | 33,000 | 124 | ||||
Taiwan Hon Chuan Enterprise Co. Ltd. | 45,000 | 121 | ||||
TCI Co. Ltd. | 17,297 | 121 | ||||
President Securities Corp. | 155,532 | 120 | ||||
Ichia Technologies Inc. | 202,000 | 119 | ||||
Taiwan Paiho Ltd. | 42,000 | 118 | ||||
Machvision Inc. | 15,039 | 118 | ||||
HannStar Display Corp. | 203,000 | 117 | ||||
XinTec Inc. | 27,000 | 117 | ||||
Flytech Technology Co. Ltd. | 44,000 | 116 | ||||
U-Ming Marine Transport Corp. | 53,000 | 116 | ||||
Weltrend Semiconductor | 36,000 | 116 | ||||
Sercomm Corp. | 44,000 | 115 |
Shares | Market Value• ($000) | |||||
Lung Yen Life Service Corp. | 74,000 | 115 | ||||
Far Eastern Department Stores Ltd. | 151,000 | 115 | ||||
Taiwan Mask Corp. | 32,000 | 115 | ||||
Visual Photonics Epitaxy Co. Ltd. | 28,000 | 114 | ||||
Soft-World International Corp. | 34,000 | 113 | ||||
China Steel Chemical Corp. | 26,000 | 112 | ||||
IEI Integration Corp. | 67,000 | 112 | ||||
AcBel Polytech Inc. | 93,000 | 112 | ||||
Topkey Corp. | 23,000 | 112 | ||||
Qisda Corp. | 100,000 | 111 | ||||
* | Phihong Technology Co. Ltd. | 68,000 | 111 | |||
Pixart Imaging Inc. | 23,000 | 111 | ||||
KMC Kuei Meng International Inc. | 16,000 | 111 | ||||
Dyaco International Inc. | 66,000 | 111 | ||||
* | Lingsen Precision Industries Ltd. | 129,000 | 110 | |||
Highwealth Construction Corp. | 63,000 | 110 | ||||
Holy Stone Enterprise Co. Ltd. | 26,000 | 110 | ||||
ChipMOS Technologies Inc. | 58,000 | 110 | ||||
Gloria Material Technology Corp. | 127,000 | 109 | ||||
Sunonwealth Electric Machine Industry Co. Ltd. | 67,000 | 109 | ||||
Sinyi Realty Inc. | 89,000 | 108 | ||||
Formosa Taffeta Co. Ltd. | 106,000 | 108 | ||||
Wowprime Corp. | 22,000 | 108 | ||||
China Chemical & Pharmaceutical Co. Ltd. | 136,000 | 107 | ||||
* | Yieh Phui Enterprise Co. Ltd. | 122,300 | 107 | |||
Taiwan Semiconductor Co. Ltd. | 43,000 | 106 | ||||
* | United Renewable Energy Co. Ltd. | 143,420 | 106 | |||
Fulgent Sun International Holding Co. Ltd. | 25,000 | 106 | ||||
Pan-International Industrial Corp. | 78,000 | 105 | ||||
Taiwan Union Technology Corp. | 34,000 | 105 | ||||
Sheng Yu Steel Co. Ltd. | 92,000 | 105 | ||||
Bioteque Corp. | 27,000 | 104 | ||||
YC INOX Co. Ltd. | 85,476 | 102 | ||||
Chicony Power Technology Co. Ltd. | 36,000 | 102 | ||||
Century Iron & Steel Industrial Co. Ltd. | 26,000 | 102 |
Shares | Market Value• ($000) | |||||
Nan Pao Resins Chemical Co. Ltd. | 21,000 | 101 | ||||
Ennoconn Corp. | 13,710 | 100 | ||||
Gamania Digital Entertainment Co. Ltd. | 44,000 | 100 | ||||
Yeong Guan Energy Technology Group Co. Ltd. | 41,468 | 99 | ||||
Innodisk Corp. | 13,000 | 99 | ||||
LandMark Optoelectronics Corp. | 15,000 | 98 | ||||
* | Infortrend Technology Inc. | 170,000 | 97 | |||
International CSRC Investment Holdings Co. | 104,990 | 96 | ||||
Sampo Corp. | 86,000 | 96 | ||||
Asia Polymer Corp. | 71,757 | 95 | ||||
HannsTouch Solution Inc. | 190,000 | 95 | ||||
Darfon Electronics Corp. | 58,000 | 95 | ||||
Pegavision Corp. | 6,000 | 95 | ||||
* | Unitech Printed Circuit Board Corp. | 145,000 | 94 | |||
Dynapack International Technology Corp. | 26,000 | 93 | ||||
Gudeng Precision Industrial Co. Ltd. | 10,000 | 93 | ||||
Kaimei Electronic Corp. | 29,000 | 93 | ||||
* | Unizyx Holding Corp. | 79,000 | 92 | |||
Coretronic Corp. | 36,000 | 92 | ||||
Hsin Kuang Steel Co. Ltd. | 41,000 | 92 | ||||
Quanta Storage Inc. | 58,000 | 92 | ||||
Asia Vital Components Co. Ltd. | 23,000 | 92 | ||||
Ta Ya Electric Wire & Cable | 110,499 | 92 | ||||
* | RDC Semiconductor Co. Ltd. | 6,000 | 92 | |||
ITE Technology Inc. | 23,000 | 90 | ||||
Mercuries & Associates Holding Ltd. | 118,100 | 90 | ||||
Merry Electronics Co. Ltd. | 30,298 | 89 | ||||
OptoTech Corp. | 47,000 | 89 | ||||
Chun Yuan Steel Industry Co. Ltd. | 99,000 | 88 | ||||
Continental Holdings Corp. | 104,000 | 88 | ||||
Basso Industry Corp. | 59,000 | 87 | ||||
TXC Corp. | 25,000 | 87 | ||||
CyberTAN Technology Inc. | 98,000 | 87 | ||||
Co-Tech Development Corp. | 32,000 | 87 | ||||
T3EX Global Holdings Corp. | 18,000 | 87 | ||||
Eternal Materials Co. Ltd. | 65,000 | 85 | ||||
TSRC Corp. | 66,000 | 84 | ||||
China Metal Products | 64,000 | 82 |
Shares | Market Value• ($000) | |||||
Hung Sheng Construction Ltd. | 92,600 | 82 | ||||
* | EirGenix Inc. | 22,000 | 82 | |||
Gold Circuit Electronics Ltd. | 27,000 | 79 | ||||
* | FLEXium Interconnect Inc. | 23,000 | 79 | |||
Dynamic Electronics Co. Ltd. | 87,997 | 79 | ||||
Chia Hsin Cement Corp. | 105,000 | 79 | ||||
Hannstar Board Corp. | 49,000 | 79 | ||||
Sensortek Technology Corp. | 5,000 | 79 | ||||
General Interface Solution Holding Ltd. | 24,000 | 78 | ||||
* | Roo Hsing Co. Ltd. | 326,000 | 77 | |||
* | Tong-Tai Machine & Tool Co. Ltd. | 128,000 | 77 | |||
Zeng Hsing Industrial Co. Ltd. | 15,000 | 77 | ||||
Nan Liu Enterprise Co. Ltd. | 19,000 | 77 | ||||
Cathay Real Estate Development Co. Ltd. | 110,000 | 76 | ||||
* | Asia Optical Co. Inc. | 26,000 | 76 | |||
Longchen Paper & Packaging Co. Ltd. | 97,739 | 76 | ||||
SDI Corp. | 16,000 | 76 | ||||
* | Taiwan TEA Corp. | 98,000 | 75 | |||
Holtek Semiconductor Inc. | 19,000 | 74 | ||||
Center Laboratories Inc. | 35,262 | 74 | ||||
Global Brands Manufacture Ltd. | 56,120 | 73 | ||||
Sincere Navigation Corp. | 71,900 | 73 | ||||
Mitac Holdings Corp. | 60,248 | 73 | ||||
Everlight Electronics Co. Ltd. | 40,000 | 72 | ||||
Everlight Chemical Industrial Corp. | 77,000 | 72 | ||||
Johnson Health Tech Co. Ltd. | 36,000 | 72 | ||||
Fittech Co. Ltd. | 10,000 | 72 | ||||
USI Corp. | 68,000 | 70 | ||||
Sanyang Motor Co. Ltd. | 68,000 | 69 | ||||
Farglory Land Development Co. Ltd. | 31,000 | 68 | ||||
TPK Holding Co. Ltd. | 49,000 | 68 | ||||
Chlitina Holding Ltd. | 9,000 | 68 | ||||
Chunghwa Precision Test Tech Co. Ltd. | 3,000 | 68 | ||||
Kuo Toong International Co. Ltd. | 91,330 | 67 | ||||
* | Lealea Enterprise Co. Ltd. | 173,000 | 66 | |||
Supreme Electronics Co. Ltd. | 34,276 | 66 |
Shares | Market Value• ($000) | |||||
Taiwan Secom Co. Ltd. | 18,000 | 66 | ||||
* | Brogent Technologies Inc. | 15,100 | 66 | |||
Rechi Precision Co. Ltd. | 98,000 | 65 | ||||
Taiflex Scientific Co. Ltd. | 39,000 | 64 | ||||
* | Savior Lifetec Corp. | 104,436 | 64 | |||
* | Chung Hwa Pulp Corp. | 78,000 | 63 | |||
Syncmold Enterprise Corp. | 26,000 | 63 | ||||
Speed Tech Corp. | 26,000 | 63 | ||||
Transcend Information Inc. | 24,000 | 61 | ||||
Cleanaway Co. Ltd. | 8,000 | 61 | ||||
Thinking Electronic Industrial Co. Ltd. | 12,000 | 60 | ||||
Motech Industries Inc. | 52,788 | 59 | ||||
Nan Kang Rubber Tire Co. Ltd. | 41,000 | 59 | ||||
Wistron NeWeb Corp. | 23,000 | 59 | ||||
Arcadyan Technology Corp. | 14,123 | 59 | ||||
* | Asia Pacific Telecom Co. Ltd. | 204,779 | 59 | |||
ADATA Technology Co. Ltd. | 17,000 | 57 | ||||
PChome Online Inc. | 14,000 | 57 | ||||
Chin-Poon Industrial Co. Ltd. | 43,000 | 56 | ||||
Formosa Sumco Technology Corp. | 6,000 | 56 | ||||
Adimmune Corp. | 39,000 | 56 | ||||
China General Plastics Corp. | 43,155 | 54 | ||||
* | TaiMed Biologics Inc. | 21,000 | 52 | |||
Hu Lane Associate Inc. | 11,275 | 51 | ||||
Solar Applied Materials Technology Corp. | 27,000 | 51 | ||||
* | OBI Pharma Inc. | 12,000 | 50 | |||
Gemtek Technology Corp. | 42,000 | 49 | ||||
Chang Wah Electromaterials Inc. | 36,000 | 49 | ||||
Hota Industrial Manufacturing Co. Ltd. | 16,810 | 48 | ||||
Ton Yi Industrial Corp. | 92,000 | 48 | ||||
Alpha Networks Inc. | 43,772 | 48 | ||||
Taiwan Sakura Corp. | 20,000 | 48 | ||||
Kenda Rubber Industrial Co. Ltd. | 44,000 | 47 | ||||
Iron Force Industrial Co. Ltd. | 19,000 | 47 | ||||
* | Oriental Union Chemical Corp. | 57,000 | 45 | |||
TaiDoc Technology Corp. | 7,000 | 45 | ||||
TTY Biopharm Co. Ltd. | 18,000 | 44 | ||||
* | Li Peng Enterprise Co. Ltd. | 128,000 | 44 | |||
* | Zinwell Corp. | 66,000 | 43 |
Shares | Market Value• ($000) | |||||
Taiwan Styrene Monomer | 70,000 | 43 | ||||
D-Link Corp. | 71,760 | 42 | ||||
* | Shining Building Business Co. Ltd. | 112,000 | 42 | |||
Grand Pacific Petrochemical | 41,000 | 42 | ||||
L&K Engineering Co. Ltd. | 36,000 | 41 | ||||
Advanced Ceramic X Corp. | 4,000 | 39 | ||||
Universal Vision Biotechnology Co. Ltd. | 4,000 | 39 | ||||
* | Adlink Technology Inc. | 17,000 | 37 | |||
Gourmet Master Co. Ltd. | 9,000 | 37 | ||||
Shin Foong Specialty & Applied Materials Co. Ltd. | 7,000 | 37 | ||||
* | Ability Enterprise Co. Ltd. | 36,000 | 36 | |||
Kinpo Electronics | 65,000 | 36 | ||||
Shin Zu Shing Co. Ltd. | 11,165 | 36 | ||||
Elitegroup Computer Systems Co. Ltd. | 50,000 | 35 | ||||
* | Darwin Precisions Corp. | 75,000 | 35 | |||
Cub Elecparts Inc. | 6,132 | 35 | ||||
China Motor Corp. | 15,200 | 34 | ||||
Primax Electronics Ltd. | 18,000 | 34 | ||||
TYC Brother Industrial Co. Ltd. | 49,000 | 33 | ||||
* | Medigen Biotechnology Corp. | 18,000 | 33 | |||
UPC Technology Corp. | 44,000 | 33 | ||||
Swancor Holding Co. Ltd. | 10,000 | 33 | ||||
Ho Tung Chemical Corp. | 85,000 | 32 | ||||
Tong Yang Industry Co. Ltd. | 27,000 | 32 | ||||
Yulon Motor Co. Ltd. | 21,615 | 32 | ||||
St. Shine Optical Co. Ltd. | 3,000 | 31 | ||||
Tung Thih Electronic Co. Ltd. | 6,000 | 31 | ||||
Gigasolar Materials Corp. | 5,000 | 30 | ||||
Cheng Uei Precision Industry Co. Ltd. | 21,000 | 29 | ||||
* | Ritek Corp. | 71,214 | 24 | |||
AmTRAN Technology Co. Ltd. | 37,560 | 22 | ||||
Altek Corp. | 14,000 | 22 | ||||
China Man-Made Fiber Corp. | 58,240 | 20 | ||||
Lotus Pharmaceutical Co. Ltd. | 4,000 | 16 | ||||
GeneReach Biotechnology Corp. | 4,117 | 14 | ||||
*,1 | Unity Opto Technology Co. Ltd. | 90,000 | 13 | |||
ScinoPharm Taiwan Ltd. | 13,000 | 11 |
Shares | Market Value• ($000) | |||||
* | Taigen Biopharmaceuticals Holdings Ltd. | 13,000 | 8 | |||
*,1 | Pharmally International Holding Co. Ltd. | 1,282 | 3 | |||
*,1 | OBI Pharma Inc. Rights Exp. 3/14/22 | 1,354 | — | |||
*,1 | Mercuries Life Insurance Co. Ltd. Rights Exp. 3/11/22 | 58,729 | — | |||
201,532 | ||||||
Thailand (0.8%) | ||||||
CP ALL PCL (Foreign) | 959,500 | 2,005 | ||||
Siam Cement PCL (Foreign) | 151,800 | 1,827 | ||||
Siam Commercial Bank PCL (Foreign) | 471,000 | 1,820 | ||||
* | Airports of Thailand PCL (Foreign) | 889,700 | 1,758 | |||
Kasikornbank PCL (Foreign) | 348,500 | 1,753 | ||||
Advanced Info Service PCL (Foreign) | 206,400 | 1,453 | ||||
Energy Absolute PCL (Foreign) | 472,700 | 1,407 | ||||
Bangkok Dusit Medical Services PCL (Foreign) | 1,099,600 | 799 | ||||
Home Product Center PCL (Foreign) | 1,689,600 | 791 | ||||
Central Pattana PCL (Foreign) | 446,300 | 759 | ||||
Gulf Energy Development PCL (Foreign) | 443,450 | 689 | ||||
Kiatnakin Phatra Bank PCL (Foreign) | 299,400 | 627 | ||||
PTT Global Chemical PCL (Foreign) | 347,000 | 565 | ||||
Delta Electronics Thailand PCL (Foreign) | 43,900 | 550 | ||||
Com7 PCL (Foreign) | 185,900 | 472 | ||||
Tisco Financial Group PCL (Foreign) | 150,900 | 453 | ||||
Indorama Ventures PCL (Foreign) | 304,600 | 422 | ||||
Global Power Synergy PCL (Foreign) | 180,892 | 418 | ||||
Sino-Thai Engineering & Construction PCL (Foreign) | 910,100 | 395 | ||||
* | BEC World PCL (Foreign) | 742,300 | 377 | |||
Bangkok Bank PCL (Foreign) | 78,400 | 338 | ||||
Intouch Holdings PCL (Foreign) | 141,356 | 329 | ||||
Electricity Generating PCL (Foreign) | 55,800 | 307 |
Shares | Market Value• ($000) | |||||
Carabao Group PCL (Foreign) | 89,300 | 292 | ||||
Central Retail Corp. PCL (Foreign) | 231,500 | 272 | ||||
Krungthai Card PCL (Foreign) | 126,700 | 247 | ||||
Univentures PCL (Foreign) | 1,817,600 | 192 | ||||
Siam Makro PCL (Foreign) | 144,437 | 189 | ||||
TMBThanachart Bank PCL (Foreign) | 4,307,124 | 182 | ||||
WHA Corp. PCL (Foreign) | 1,695,300 | 177 | ||||
Supalai PCL (Foreign) | 246,800 | 166 | ||||
Jay Mart PCL (Foreign) | 95,100 | 165 | ||||
Charoen Pokphand Foods PCL (Foreign) | 202,600 | 157 | ||||
Krung Thai Bank PCL (Foreign) | 327,800 | 141 | ||||
* | CPN Retail Growth Leasehold REIT | 217,300 | 134 | |||
Jasmine Broadband Internet Infrastructure Fund | 383,972 | 132 | ||||
BTS Group Holdings PCL (Foreign) | 439,200 | 128 | ||||
Workpoint Entertainment PCL (Foreign) | 178,900 | 124 | ||||
KCE Electronics PCL (Foreign) | 65,000 | 121 | ||||
* | Unique Engineering & Construction PCL (Foreign) | 598,300 | 104 | |||
WHA Premium Growth Freehold & Leasehold REIT | 276,500 | 104 | ||||
* | U City PCL (Foreign) | 1,838,200 | 98 | |||
IMPACT Growth REIT | 194,000 | 96 | ||||
Thai Union Group PCL (Foreign) | 149,500 | 93 | ||||
Thoresen Thai Agencies PCL (Foreign) | 289,000 | 88 | ||||
Thaicom PCL (Foreign) | 285,200 | 86 | ||||
Bumrungrad Hospital PCL (Foreign) | 17,800 | 84 | ||||
Bangkok Expressway & Metro PCL (Foreign) | 279,800 | 76 | ||||
Thonburi Healthcare Group PCL (Foreign) | 48,500 | 74 | ||||
JMT Network Services PCL (Foreign) | 35,192 | 74 | ||||
* | Central Plaza Hotel PCL (Foreign) | 66,800 | 71 | |||
* | Samart Corp. PCL (Foreign) | 358,300 | 69 | |||
* | Bangkok Airways PCL (Foreign) | 233,500 | 68 |
Shares | Market Value• ($000) | |||||
* | Asset World Corp. PCL (Foreign) | 460,000 | 68 | |||
Hana Microelectronics PCL (Foreign) | 37,300 | 59 | ||||
True Corp. PCL (Foreign) | 375,600 | 58 | ||||
Dohome PCL (Foreign) | 79,900 | 58 | ||||
AEON Thana Sinsap Thailand PCL (Foreign) | 9,400 | 57 | ||||
Sri Trang Agro-Industry PCL (Foreign) | 67,600 | 55 | ||||
Muangthai Capital PCL (Foreign) | 33,200 | 53 | ||||
VGI PCL (Foreign) | 294,730 | 53 | ||||
Srisawad Corp. PCL (Foreign) | 28,600 | 51 | ||||
*,1 | Thai Airways International PCL (Foreign) | 469,000 | 48 | |||
Thanachart Capital PCL (Foreign) | 37,100 | 48 | ||||
Siam Global House PCL (Foreign) | 78,359 | 47 | ||||
Precious Shipping PCL (Foreign) | 84,200 | 45 | ||||
Super Energy Corp. PCL (Foreign) | 1,608,300 | 45 | ||||
Bangkok Commercial Asset Management PCL (Foreign) | 67,100 | 45 | ||||
Total Access Communication PCL (Foreign) | 26,900 | 39 | ||||
Thai Vegetable Oil PCL (Foreign) | 35,700 | 36 | ||||
Berli Jucker PCL (Foreign) | 33,100 | 34 | ||||
Land & Houses PCL (Foreign) | 114,600 | 34 | ||||
TPI Polene PCL (Foreign) | 631,700 | 34 | ||||
TQM Corp. PCL (Foreign) | 24,800 | 34 | ||||
SPCG PCL (Foreign) | 57,800 | 32 | ||||
Amata Corp. PCL (Foreign) | 45,993 | 30 | ||||
AP Thailand PCL (Foreign) | 88,200 | 29 | ||||
Osotspa PCL (Foreign) | 26,800 | 29 | ||||
LPN Development PCL (Foreign) | 190,300 | 27 | ||||
B Grimm Power PCL (Foreign) | 25,300 | 27 | ||||
* | Plan B Media PCL (Foreign) | 104,112 | 25 | |||
Quality Houses PCL (Foreign) | 343,200 | 24 | ||||
Mega Lifesciences PCL (Foreign) | 18,300 | 24 | ||||
Chularat Hospital PCL (Foreign) | 210,700 | 23 | ||||
* | Jasmine International PCL (Foreign) | 208,700 | 23 |
Shares | Market Value• ($000) | |||||
Gunkul Engineering PCL (Foreign) | 111,400 | 21 | ||||
Bangkok Land PCL (Foreign) | 675,700 | 21 | ||||
TPI Polene Power PCL (Foreign) | 160,300 | 20 | ||||
Thailand Future Fund | 90,900 | 20 | ||||
Bangkok Life Assurance PCL NVDR | 14,000 | 19 | ||||
Taokaenoi Food & Marketing PCL (Foreign) | 77,500 | 19 | ||||
Tipco Asphalt PCL (Foreign) | 32,600 | 18 | ||||
GFPT PCL (Foreign) | 36,300 | 15 | ||||
Sansiri PCL (Foreign) | 393,500 | 15 | ||||
Thaifoods Group PCL (Foreign) | 114,700 | 15 | ||||
Origin Property PCL (Foreign) | 38,000 | 14 | ||||
BCPG PCL (Foreign) | 32,051 | 12 | ||||
Major Cineplex Group PCL (Foreign) | 18,300 | 11 | ||||
TTW PCL (Foreign) | 28,000 | 10 | ||||
Ratchthani Leasing PCL (Foreign) | 77,600 | 10 | ||||
* | Italian-Thai Development PCL (Foreign) | 118,800 | 8 | |||
Advanced Info Service PCL | 1,200 | 8 | ||||
TOA Paint Thailand PCL (Foreign) | 6,800 | 6 | ||||
* | VGI PCL (Foreign) Rights Exp. 3/29/22 | 88,419 | 2 | |||
* | BCPG PCL Warrants Exp. 11/13/23 | 1 | — | |||
* | Plan B Media PCL Warrants Exp. 1/13/25 | 3,856 | — | |||
25,876 | ||||||
Turkey (0.1%) | ||||||
Turkiye Sise ve Cam Fabrikalari A/S | 403,510 | 361 | ||||
Eregli Demir ve Celik Fabrikalari TAS | 128,386 | 289 | ||||
Tat Gida Sanayi A/S | 387,511 | 286 | ||||
Yatas Yatak ve Yorgan Sanayi ve Ticaret A/S | 340,220 | 257 | ||||
Turkiye Garanti Bankasi A/S | 297,675 | 239 | ||||
BIM Birlesik Magazalar A/S | 39,783 | 210 | ||||
Logo Yazilim Sanayi ve Ticaret A/S | 61,680 | 184 | ||||
* | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S | 155,050 | 131 | |||
* | Is Gayrimenkul Yatirim Ortakligi A/S | 309,061 | 123 |
Shares | Market Value• ($000) | |||||
* | Aksa Enerji Uretim A/S Class B | 110,504 | 103 | |||
Akbank TAS | 177,014 | 90 | ||||
Ford Otomotiv Sanayi A/S | 4,262 | 83 | ||||
* | Oyak Cimento Fabrikalari A/S | 157,929 | 83 | |||
Aksa Akrilik Kimya Sanayii A/S | 30,935 | 81 | ||||
Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A/S | 62,060 | 76 | ||||
Ulker Biskuvi Sanayi A/S | 69,387 | 74 | ||||
* | Gubre Fabrikalari TAS | 12,258 | 68 | |||
AG Anadolu Grubu Holding A/S | 26,203 | 61 | ||||
* | Turk Hava Yollari AO | 29,154 | 54 | |||
Kervan Gida Sanayi ve Ticaret A/S Class B | 70,787 | 54 | ||||
Akcansa Cimento A/S | 41,084 | 49 | ||||
Borusan Yatirim ve Pazarlama A/S | 1,912 | 48 | ||||
Is Yatirim Menkul Degerler A/S | 35,721 | 45 | ||||
* | Torunlar Gayrimenkul Yatirim Ortakligi A/S | 114,758 | 44 | |||
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S | 297,714 | 43 | ||||
* | Is Finansal Kiralama A/S | 214,190 | 43 | |||
* | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class A | 55,213 | 41 | |||
* | Sasa Polyester Sanayi A/S | 12,192 | 41 | |||
Kartonsan Karton Sanayi ve Ticaret A/S | 12,049 | 39 | ||||
Haci Omer Sabanci Holding A/S | 33,553 | 38 | ||||
Alarko Holding A/S | 27,754 | 37 | ||||
Turk Traktor ve Ziraat Makineleri A/S | 2,379 | 37 | ||||
Nuh Cimento Sanayi A/S | 11,154 | 34 | ||||
Turkiye Is Bankasi A/S Class C | 54,007 | 31 | ||||
* | Petkim Petrokimya Holding A/S | 55,556 | 31 | |||
2 | Mavi Giyim Sanayi ve Ticaret A/S Class B | 7,248 | 29 | |||
* | Zorlu Enerji Elektrik Uretim A/S | 257,724 | 28 | |||
* | Pegasus Hava Tasimaciligi A/S | 4,077 | 28 | |||
Aksigorta A/S | 59,919 | 27 | ||||
Aygaz A/S | 15,112 | 27 | ||||
* | Hektas Ticaret TAS | 29,370 | 27 | |||
Coca-Cola Icecek A/S | 3,293 | 26 | ||||
EGE Endustri ve Ticaret A/S | 181 | 23 | ||||
* | Konya Cimento Sanayii A/S | 359 | 23 |
Shares | Market Value• ($000) | |||||
* | Koza Anadolu Metal Madencilik Isletmeleri A/S | 14,046 | 20 | |||
* | Cimsa Cimento Sanayi ve Ticaret A/S | 7,525 | 18 | |||
2 | Enerjisa Enerji A/S | 18,394 | 18 | |||
*,2 | MLP Saglik Hizmetleri A/S Class B | 7,804 | 17 | |||
Dogus Otomotiv Servis ve Ticaret A/S | 4,771 | 16 | ||||
* | Koza Altin Isletmeleri A/S | 1,798 | 15 | |||
Brisa Bridgestone Sabanci Sanayi ve Ticaret A/S | 7,642 | 14 | ||||
Yapi ve Kredi Bankasi A/S | 48,161 | 12 | ||||
Sok Marketler Ticaret A/S | 13,986 | 11 | ||||
* | Bera Holding A/S | 17,692 | 10 | |||
Tofas Turk Otomobil Fabrikasi A/S | 1,547 | 9 | ||||
Dogan Sirketler Grubu Holding A/S | 31,140 | 6 | ||||
Turk Telekomunikasyon A/S | 9,896 | 6 | ||||
Arcelik A/S | 1,329 | 5 | ||||
* | Sekerbank Turk A/S | 81,041 | 5 | |||
Turkiye Sinai Kalkinma Bankasi A/S | 54,965 | 5 | ||||
* | TAV Havalimanlari Holding A/S | 1,847 | 5 | |||
* | Tekfen Holding A/S | 3,446 | 5 | |||
3,943 | ||||||
United Arab Emirates (0.4%) | ||||||
Emirates Telecommunications Group Co. PJSC | 483,943 | 4,622 | ||||
First Abu Dhabi Bank PJSC | 590,562 | 3,328 | ||||
Emirates NBD Bank PJSC | 346,981 | 1,353 | ||||
Abu Dhabi Commercial Bank PJSC | 361,607 | 1,060 | ||||
Emaar Properties PJSC | 510,994 | 708 | ||||
Aldar Properties PJSC | 432,294 | 494 | ||||
Abu Dhabi Islamic Bank PJSC | 199,166 | 480 | ||||
* | Air Arabia PJSC | 655,248 | 294 | |||
Dubai Investments PJSC | 305,176 | 188 | ||||
* | Dubai Financial Market PJSC | 271,148 | 173 | |||
* | RAK Properties PJSC | 709,994 | 150 | |||
* | Emaar Development PJSC | 128,179 | 150 | |||
GFH Financial Group BSC | 366,354 | 123 | ||||
Aramex PJSC | 105,947 | 116 | ||||
*,1 | Arabtec Holding PJSC | 101,139 | 15 | |||
13,254 |
Shares | Market Value• ($000) | |||||
United Kingdom (8.3%) | ||||||
AstraZeneca plc | 220,516 | 26,803 | ||||
GlaxoSmithKline plc | 677,760 | 14,134 | ||||
Unilever plc (XLON) | 257,554 | 12,937 | ||||
RELX plc | 256,594 | 7,814 | ||||
Reckitt Benckiser Group plc | 90,219 | 7,639 | ||||
National Grid plc | 468,164 | 7,078 | ||||
Vodafone Group plc | 3,776,605 | 6,648 | ||||
Lloyds Banking Group plc | 9,938,681 | 6,406 | ||||
Compass Group plc | 267,198 | 6,039 | ||||
Barclays plc | 2,419,974 | 5,913 | ||||
Prudential plc | 389,541 | 5,889 | ||||
Experian plc | 133,793 | 5,227 | ||||
Unilever plc (XAMS) | 101,641 | 5,100 | ||||
CRH plc | 111,340 | 5,023 | ||||
Ferguson plc | 32,686 | 4,981 | ||||
London Stock Exchange Group plc | 51,596 | 4,507 | ||||
Ashtead Group plc | 67,903 | 4,412 | ||||
Tesco plc | 1,104,404 | 4,278 | ||||
SSE plc | 154,900 | 3,515 | ||||
Legal & General Group plc | 855,248 | 3,162 | ||||
Segro plc | 179,984 | 3,130 | ||||
Aviva plc | 536,927 | 3,009 | ||||
WPP plc | 203,526 | 2,863 | ||||
BT Group plc | 1,145,966 | 2,859 | ||||
3i Group plc | 148,921 | 2,653 | ||||
Standard Chartered plc | 365,851 | 2,607 | ||||
Smith & Nephew plc | 142,888 | 2,556 | ||||
Croda International plc | 22,934 | 2,296 | ||||
Bunzl plc | 57,335 | 2,266 | ||||
NatWest Group plc | 727,304 | 2,229 | ||||
Rentokil Initial plc | 328,012 | 2,226 | ||||
* | Informa plc | 265,223 | 2,100 | |||
Smurfit Kappa Group plc | 42,078 | 2,088 | ||||
Next plc | 21,902 | 2,005 | ||||
Spirax-Sarco Engineering plc | 12,327 | 1,964 | ||||
Halma plc | 60,353 | 1,947 | ||||
St. James's Place plc | 102,568 | 1,923 | ||||
Burberry Group plc | 72,305 | 1,875 | ||||
Persimmon plc | 56,602 | 1,822 | ||||
Smiths Group plc | 86,196 | 1,758 | ||||
Sage Group plc | 184,818 | 1,734 | ||||
Kingfisher plc | 415,244 | 1,694 | ||||
Rightmove plc | 185,859 | 1,665 | ||||
Mondi plc | 75,650 | 1,587 | ||||
2 | Auto Trader Group plc | 178,298 | 1,577 | |||
DCC plc | 19,847 | 1,557 | ||||
Barratt Developments plc | 189,935 | 1,547 | ||||
British Land Co. plc | 212,953 | 1,505 | ||||
Howden Joinery Group plc | 126,929 | 1,444 | ||||
Taylor Wimpey plc | 708,770 | 1,422 |
Shares | Market Value• ($000) | |||||
* | Ocado Group plc | 76,460 | 1,406 | |||
Severn Trent plc | 35,653 | 1,372 | ||||
Admiral Group plc | 34,367 | 1,369 | ||||
Intermediate Capital Group plc | 56,879 | 1,304 | ||||
United Utilities Group plc | 90,171 | 1,294 | ||||
Tate & Lyle plc | 127,304 | 1,278 | ||||
Direct Line Insurance Group plc | 306,401 | 1,216 | ||||
abrdn plc | 432,400 | 1,198 | ||||
Bellway plc | 31,110 | 1,197 | ||||
Pearson plc | 138,314 | 1,197 | ||||
DS Smith plc | 258,091 | 1,189 | ||||
M&G plc | 430,694 | 1,186 | ||||
* | ITV plc | 792,738 | 1,168 | |||
Berkeley Group Holdings plc | 21,323 | 1,109 | ||||
J Sainsbury plc | 290,718 | 1,072 | ||||
Derwent London plc | 25,200 | 1,027 | ||||
Antofagasta plc | 48,620 | 984 | ||||
Spectris plc | 25,309 | 951 | ||||
Johnson Matthey plc | 37,606 | 945 | ||||
B&M European Value Retail SA | 107,796 | 874 | ||||
Hargreaves Lansdown plc | 57,577 | 873 | ||||
* | Coca-Cola HBC AG | 34,276 | 871 | |||
Britvic plc | 73,787 | 846 | ||||
Phoenix Group Holdings plc | 101,907 | 845 | ||||
Hikma Pharmaceuticals plc | 29,178 | 812 | ||||
Investec plc | 145,358 | 788 | ||||
JD Sports Fashion plc | 387,238 | 779 | ||||
Endeavour Mining plc | 29,361 | 777 | ||||
* | Marks & Spencer Group plc | 327,023 | 762 | |||
Royal Mail plc | 138,545 | 728 | ||||
Games Workshop Group plc | 7,047 | 707 | ||||
UNITE Group plc | ���47,952 | 686 | ||||
Dechra Pharmaceuticals plc | 12,015 | 663 | ||||
Pennon Group plc | 46,632 | 648 | ||||
Electrocomponents plc | 47,712 | 629 | ||||
Future plc | 16,210 | 574 | ||||
Beazley plc | 93,832 | 568 | ||||
Close Brothers Group plc | 35,310 | 552 | ||||
Greggs plc | 16,065 | 552 | ||||
* | WH Smith plc | 25,303 | 547 | |||
Vistry Group plc | 36,902 | 496 | ||||
* | S4 Capital plc | 72,527 | 453 | |||
*,2 | Watches of Switzerland Group plc | 28,127 | 451 | |||
HomeServe plc | 49,833 | 450 | ||||
Schroders plc | 10,926 | 447 | ||||
Man Group plc | 170,239 | 438 |
Shares | Market Value• ($000) | |||||
Inchcape plc | 42,177 | 422 | ||||
Genus plc | 9,355 | 412 | ||||
OSB Group plc | 61,177 | 409 | ||||
* | SSP Group plc | 107,943 | 401 | |||
Hiscox Ltd. | 32,119 | 395 | ||||
Capital & Counties Properties plc | 161,623 | 358 | ||||
*,2 | Countryside Partnerships plc | 87,300 | 354 | |||
Virgin Money UK plc | 132,409 | 328 | ||||
2 | Avast plc | 38,085 | 321 | |||
Safestore Holdings plc | 18,560 | 316 | ||||
Drax Group plc | 33,224 | 313 | ||||
2 | ConvaTec Group plc | 124,364 | 301 | |||
Polymetal International plc | 63,105 | 295 | ||||
Redrow plc | 38,445 | 293 | ||||
Grainger plc | 76,840 | 287 | ||||
Dr. Martens plc | 76,367 | 287 | ||||
Dunelm Group plc | 16,399 | 264 | ||||
LondonMetric Property plc | 71,210 | 248 | ||||
Big Yellow Group plc | 12,881 | 245 | ||||
*,2 | Network International Holdings plc | 77,689 | 234 | |||
IG Group Holdings plc | 21,732 | 227 | ||||
* | easyJet plc | 27,877 | 224 | |||
Synthomer plc | 57,042 | 220 | ||||
Domino's Pizza Group plc | 45,015 | 220 | ||||
Marshalls plc | 24,700 | 210 | ||||
Micro Focus International plc | 34,381 | 179 | ||||
Brewin Dolphin Holdings plc | 45,090 | 178 | ||||
* | IWG plc | 46,657 | 175 | |||
Grafton Group plc | 12,100 | 174 | ||||
Pets at Home Group plc | 34,650 | 168 | ||||
Softcat plc | 8,047 | 168 | ||||
Fresnillo plc | 17,075 | 163 | ||||
Hammerson plc | 329,393 | 163 | ||||
* | International Consolidated Airlines Group SA | 81,937 | 161 | |||
Spirent Communications plc | 48,893 | 160 | ||||
*,2 | Trainline plc | 55,035 | 150 | |||
Computacenter plc | 4,049 | 148 | ||||
Hays plc | 75,490 | 137 | ||||
Bank of Georgia Group plc | 7,644 | 135 | ||||
Bytes Technology Group plc | 21,742 | 134 | ||||
Cranswick plc | 2,720 | 128 | ||||
Shaftesbury plc | 15,778 | 124 | ||||
TP ICAP Group plc | 75,996 | 122 | ||||
Plus500 Ltd. | 6,285 | 117 |
Shares | Market Value• ($000) | |||||
* | Greencore Group plc | 64,694 | 116 | |||
2 | Quilter plc | 66,108 | 115 | |||
* | Ascential plc | 25,440 | 111 | |||
Ferrexpo plc | 48,315 | 110 | ||||
Paragon Banking Group plc | 16,286 | 110 | ||||
Picton Property Income Ltd. | 81,152 | 107 | ||||
Assura plc | 128,797 | 106 | ||||
Pagegroup plc | 13,511 | 103 | ||||
* | National Express Group plc | 31,678 | 101 | |||
Sanne Group plc | 8,247 | 101 | ||||
Great Portland Estates plc | 10,621 | 96 | ||||
* | Mediclinic International plc | 21,019 | 93 | |||
Savills plc | 5,376 | 92 | ||||
*,2 | Trustpilot Group plc | 46,226 | 92 | |||
* | Moonpig Group plc | 25,645 | 91 | |||
* | Auction Technology Group plc | 7,027 | 91 | |||
Centamin plc | 67,757 | 90 | ||||
* | Frasers Group plc | 10,406 | 88 | |||
Lancashire Holdings Ltd. | 13,268 | 84 | ||||
IP Group plc | 67,515 | 84 | ||||
Ashmore Group plc | 24,722 | 83 | ||||
Moneysupermarket.com Group plc | 29,728 | 83 | ||||
Victrex plc | 3,159 | 82 | ||||
IntegraFin Holdings plc | 13,992 | 80 | ||||
Mitie Group plc | 104,804 | 78 | ||||
Currys plc | 60,869 | 76 | ||||
Workspace Group plc | 7,280 | 76 | ||||
AJ Bell plc | 18,148 | 75 | ||||
Rathbones Group plc | 3,170 | 70 | ||||
Genuit Group plc | 10,032 | 69 | ||||
Kainos Group plc | 3,341 | 68 | ||||
* | Just Group plc | 58,484 | 66 | |||
*,2 | Wizz Air Holdings plc | 1,454 | 65 | |||
* | Provident Financial plc | 15,943 | 62 | |||
Coats Group plc | 76,003 | 62 | ||||
* | Elementis plc | 34,082 | 59 | |||
Sirius Real Estate Ltd. | 34,318 | 58 | ||||
Jupiter Fund Management plc | 19,869 | 57 | ||||
Crest Nicholson Holdings plc | 13,949 | 57 | ||||
* | Restaurant Group plc | 42,987 | 56 | |||
Vesuvius plc | 10,375 | 55 | ||||
Halfords Group plc | 14,101 | 52 | ||||
RHI Magnesita NV | 1,389 | 52 | ||||
* | Firstgroup plc | 38,431 | 51 | |||
Redde Northgate plc | 9,423 | 48 | ||||
*,2 | Aston Martin Lagonda Global Holdings plc | 3,569 | 48 |
Shares | Market Value• ($000) | |||||
Clarkson plc | 1,045 | 47 | ||||
Telecom Plus plc | 2,351 | 46 | ||||
Essentra plc | 11,008 | 45 | ||||
*,2 | Spire Healthcare Group plc | 13,463 | 42 | |||
2 | Alfa Financial Software Holdings plc | 19,452 | 41 | |||
Euromoney Institutional Investor plc | 3,364 | 40 | ||||
2 | Ibstock plc | 15,964 | 38 | |||
Liontrust Asset Management plc | 1,794 | 36 | ||||
FDM Group Holdings plc | 2,927 | 33 | ||||
* | AO World plc | 24,288 | 31 | |||
Helical plc | 5,379 | 30 | ||||
NCC Group plc | 9,895 | 25 | ||||
Hochschild Mining plc | 16,405 | 25 | ||||
Keller Group plc | 2,139 | 23 | ||||
* | Petropavlovsk plc | 216,180 | 23 | |||
AG Barr plc | 2,978 | 21 | ||||
2 | TI Fluid Systems plc | 6,919 | 20 | |||
TBC Bank Group plc | 1,188 | 19 | ||||
Devro plc | 6,727 | 18 | ||||
* | Go-Ahead Group plc | 1,814 | 16 | |||
PZ Cussons plc | 5,461 | 15 | ||||
* | Stagecoach Group plc | 9,115 | 10 | |||
* | PureTech Health plc | 2,578 | 8 | |||
* | THG plc Class B | 3,960 | 6 | |||
* | SIG plc | 2,970 | 2 | |||
*,1 | NMC Health plc | 4,208 | — | |||
264,488 | ||||||
Total Common Stocks (Cost $3,040,786) | 3,167,655 |
Shares | Market Value• ($000) | |||||
Temporary Cash Investments (0.3%) | ||||||
Money Market Fund (0.3%) | ||||||
4,5 | Vanguard Market Liquidity Fund, 0.138% (Cost $10,332) | 103,347 | 10,333 | |||
Total Investments (99.9%) (Cost $3,051,118) | 3,177,988 | |||||
Other Assets and Liabilities—Net (0.1%) | 3,824 | |||||
Net Assets (100%) | 3,181,812 |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Security value determined using significant unobservable inputs. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2022, the aggregate value was $99,627,000, representing 3.1% of net assets. |
3 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $8,254,000. |
4 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
5 | Collateral of $9,008,000 was received for securities on loan. |
ADR—American Depositary Receipt. | |
FDR—Fiduciary Depositary Receipt. | |
GDR—Global Depositary Receipt. | |
NVDR—Non-Voting Depositary Receipt. | |
REIT—Real Estate Investment Trust. |
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 | March 2022 | 11 | 2,402 | (57) |
MSCI EAFE Index | March 2022 | 10 | 1,080 | (82) |
MSCI Emerging Market Index | March 2022 | 91 | 5,349 | (186) |
(325) |
Forward Currency Contracts | |||||||
Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
Counterparty | Receive | Deliver | |||||
BNP Paribas | 3/16/22 | INR | 107,647 | USD | 1,412 | 15 | — |
JPMorgan Chase Bank, N.A. | 3/16/22 | USD | 982 | CHF | 907 | — | (7) |
JPMorgan Chase Bank, N.A. | 3/16/22 | USD | 645 | EUR | 571 | 4 | — |
Goldman Sachs International | 3/16/22 | USD | 308 | GBP | 234 | — | (5) |
Goldman Sachs International | 3/16/22 | USD | 991 | JPY | 112,536 | 11 | — |
30 | (12) |
CHF—Swiss franc. |
EUR—euro. |
GBP—British pound. |
INR—Indian rupee. |
JPY—Japanese yen. |
USD—U.S. dollar. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $3,040,786) | 3,167,655 |
Affiliated Issuers (Cost $10,332) | 10,333 |
Total Investments in Securities | 3,177,988 |
Investment in Vanguard | 107 |
Cash | 284 |
Foreign Currency, at Value (Cost $3,913) | 3,906 |
Cash Collateral Pledged—Futures Contracts | 390 |
Receivables for Investment Securities Sold | 1,489 |
Receivables for Accrued Income | 7,227 |
Receivables for Capital Shares Issued | 3,421 |
Unrealized Appreciation—Forward Currency Contracts | 30 |
Total Assets | 3,194,842 |
Liabilities | |
Payables for Investment Securities Purchased | 1,993 |
Collateral for Securities on Loan | 9,008 |
Payables to Vanguard | 138 |
Variation Margin Payable—Futures Contracts | 94 |
Unrealized Depreciation—Forward Currency Contracts | 12 |
Deferred Foreign Capital Gains Taxes | 1,785 |
Total Liabilities | 13,030 |
Net Assets | 3,181,812 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 3,095,686 |
Total Distributable Earnings (Loss) | 86,126 |
Net Assets | 3,181,812 |
Net Assets | |
Applicable to 55,200,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,181,812 |
Net Asset Value Per Share | $57.64 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends 1 | 20,959 |
Non-Cash Dividends | 9,203 |
Interest 2 | 3 |
Securities Lending—Net | 299 |
Total Income | 30,464 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 124 |
Management and Administrative | 1,233 |
Marketing and Distribution | 56 |
Custodian Fees | 308 |
Shareholders’ Reports | 33 |
Trustees’ Fees and Expenses | 1 |
Other Expenses | 15 |
Total Expenses | 1,770 |
Net Investment Income | 28,694 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | (22,515) |
Futures Contracts | (1,498) |
Forward Currency Contracts | 123 |
Foreign Currencies | 18 |
Realized Net Gain (Loss) | (23,872) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2,3 | (302,219) |
Futures Contracts | (251) |
Forward Currency Contracts | (1) |
Foreign Currencies | — |
Change in Unrealized Appreciation (Depreciation) | (302,471) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (297,649) |
1 | Dividends are net of foreign withholding taxes of $2,746,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $3,000, ($2,000), less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | The change in unrealized appreciation (depreciation) is net of the change in deferred foreign capital gains taxes of ($872,000). |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 28,694 | 39,385 | |
Realized Net Gain (Loss) | (23,872) | 6,542 | |
Change in Unrealized Appreciation (Depreciation) | (302,471) | 329,233 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (297,649) | 375,160 | |
Distributions | |||
Total Distributions | (43,855) | (37,086) | |
Capital Share Transactions | |||
Issued | 962,488 | 1,017,922 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | — | — | |
Net Increase (Decrease) from Capital Share Transactions | 962,488 | 1,017,922 | |
Total Increase (Decrease) | 620,984 | 1,355,996 | |
Net Assets | |||
Beginning of Period | 2,560,828 | 1,204,832 | |
End of Period | 3,181,812 | 2,560,828 |
For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2022 | Year Ended August 31, | September 18, 20181 to August 31, 2019 | |
2021 | 2020 | |||
Net Asset Value, Beginning of Period | $64.34 | $52.38 | $48.09 | $50.00 |
Investment Operations | ||||
Net Investment Income2 | .597 | 1.295 | 1.192 | 1.529 |
Net Realized and Unrealized Gain (Loss) on Investments | (6.377) | 11.907 | 4.138 | (2.714) |
Total from Investment Operations | (5.780) | 13.202 | 5.330 | (1.185) |
Distributions | ||||
Dividends from Net Investment Income | (.920) | (1.242) | (1.040) | (.725) |
Distributions from Realized Capital Gains | — | — | — | — |
Total Distributions | (.920) | (1.242) | (1.040) | (.725) |
Net Asset Value, End of Period | $57.64 | $64.34 | $52.38 | $48.09 |
Total Return | -9.06% | 25.45% | 11.23% | -2.36% |
Ratios/Supplemental Data | ||||
Net Assets, End of Period (Millions) | $3,182 | $2,561 | $1,205 | $418 |
Ratio of Total Expenses to Average Net Assets | 0.12% | 0.12% | 0.15% | 0.17% 3,4 |
Ratio of Net Investment Income to Average Net Assets | 1.95% | 2.14% | 2.45% | 3.30% 3 |
Portfolio Turnover Rate5 | 3% | 7% | 12% | 22% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Inception. |
2 | Calculated based on average shares outstanding. |
3 | Annualized. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.15%. |
5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 287,802 | 2,879,143 | 710 | 3,167,655 |
Temporary Cash Investments | 10,333 | — | — | 10,333 |
Total | 298,135 | 2,879,143 | 710 | 3,177,988 |
Derivative Financial Instruments | ||||
Assets | ||||
Forward Currency Contracts | — | 30 | — | 30 |
Liabilities | ||||
Futures Contracts1 | 325 | — | — | 325 |
Forward Currency Contracts | — | 12 | — | 12 |
Total | 325 | 12 | — | 337 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Statement of Assets and Liabilities | Equity Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
Unrealized Appreciation—Forward Currency Contracts | — | 30 | 30 |
Total Assets | — | 30 | 30 |
Unrealized Depreciation—Futures Contracts1 | 325 | — | 325 |
Unrealized Depreciation—Forward Currency Contracts | — | 12 | 12 |
Total Liabilities | 325 | 12 | 337 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized Net Gain (Loss) on Derivatives | Equity Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
Futures Contracts | (1,498) | — | (1,498) |
Forward Currency Contracts | — | 123 | 123 |
Realized Net Gain (Loss) on Derivatives | (1,498) | 123 | (1,375) |
Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
Futures Contracts | (251) | — | (251) |
Forward Currency Contracts | — | (1) | (1) |
Change in Unrealized Appreciation (Depreciation) on Derivatives | (251) | (1) | (252) |
Amount ($000) | |
Tax Cost | 3,063,057 |
Gross Unrealized Appreciation | 415,469 |
Gross Unrealized Depreciation | (300,845) |
Net Unrealized Appreciation (Depreciation) | 114,624 |
Six Months Ended February 28, 2022 | Year Ended August 31, 2021 | ||
Shares (000) | Shares (000) | ||
Issued | 15,400 | 16,800 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | — | — | |
Net Increase (Decrease) in Shares Outstanding | 15,400 | 16,800 |
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• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended February 28, 2022 | |||
ESG U.S. Corporate Bond ETF | Beginning Account Value 8/31/2021 | Ending Account Value 2/28/2022 | Expenses Paid During Period |
Based on Actual Fund Return | $1,000.00 | $939.80 | $0.58 |
Based on Hypothetical 5% Yearly Return | 1,000.00 | 1,024.20 | 0.60 |
Corporate Bonds – Communications | 14.2% |
Corporate Bonds – Consumer Discretionary | 6.7 |
Corporate Bonds – Consumer Staples | 3.7 |
Corporate Bonds – Financials | 40.2 |
Corporate Bonds – Health Care | 15.7 |
Corporate Bonds – Industrials | 2.4 |
Corporate Bonds – Materials | 1.6 |
Corporate Bonds – Real Estate | 2.0 |
Corporate Bonds – Technology | 13.4 |
Corporate Bonds – Utilities | 0.0 |
U.S. Government and Agency Obligations | 0.1 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
U.S. Government and Agency Obligations (0.1%) | ||||||
U.S. Government Securities (0.1%) | ||||||
United States Treasury Note/Bond | 1.125% | 1/15/25 | 100 | 98 | ||
United States Treasury Note/Bond | 2.000% | 11/15/41 | 73 | 70 | ||
Total U.S. Government and Agency Obligations (Cost $168) | 168 | |||||
Corporate Bonds (99.1%) | ||||||
Communications (14.1%) | ||||||
Activision Blizzard Inc. | 3.400% | 9/15/26 | 130 | 136 | ||
Activision Blizzard Inc. | 2.500% | 9/15/50 | 160 | 134 | ||
Alphabet Inc. | 3.375% | 2/25/24 | 140 | 145 | ||
Alphabet Inc. | 0.450% | 8/15/25 | 150 | 143 | ||
Alphabet Inc. | 1.998% | 8/15/26 | 270 | 271 | ||
Alphabet Inc. | 0.800% | 8/15/27 | 110 | 103 | ||
Alphabet Inc. | 1.100% | 8/15/30 | 240 | 217 | ||
Alphabet Inc. | 1.900% | 8/15/40 | 70 | 59 | ||
Alphabet Inc. | 2.050% | 8/15/50 | 176 | 142 | ||
Alphabet Inc. | 2.250% | 8/15/60 | 115 | 92 | ||
America Movil SAB de CV | 3.625% | 4/22/29 | 95 | 98 | ||
America Movil SAB de CV | 2.875% | 5/7/30 | 75 | 74 | ||
America Movil SAB de CV | 6.375% | 3/1/35 | 75 | 97 | ||
America Movil SAB de CV | 6.125% | 3/30/40 | 160 | 204 | ||
America Movil SAB de CV | 4.375% | 7/16/42 | 55 | 59 | ||
America Movil SAB de CV | 4.375% | 4/22/49 | 130 | 143 | ||
AT&T Inc. | 0.900% | 3/25/24 | 120 | 118 | ||
AT&T Inc. | 4.450% | 4/1/24 | 25 | 26 | ||
AT&T Inc. | 3.400% | 5/15/25 | 145 | 150 | ||
AT&T Inc. | 4.125% | 2/17/26 | 250 | 267 | ||
AT&T Inc. | 1.700% | 3/25/26 | 300 | 292 | ||
AT&T Inc. | 3.800% | 2/15/27 | 100 | 106 | ||
AT&T Inc. | 4.250% | 3/1/27 | 160 | 172 | ||
AT&T Inc. | 2.300% | 6/1/27 | 160 | 158 | ||
AT&T Inc. | 1.650% | 2/1/28 | 125 | 118 | ||
1 | AT&T Inc. | 4.100% | 2/15/28 | 130 | 139 | |
AT&T Inc. | 4.350% | 3/1/29 | 380 | 414 | ||
1 | AT&T Inc. | 4.300% | 2/15/30 | 260 | 283 | |
AT&T Inc. | 2.750% | 6/1/31 | 175 | 170 | ||
AT&T Inc. | 2.250% | 2/1/32 | 75 | 69 | ||
AT&T Inc. | 2.550% | 12/1/33 | 190 | 176 | ||
AT&T Inc. | 4.500% | 5/15/35 | 80 | 88 | ||
AT&T Inc. | 5.250% | 3/1/37 | 290 | 341 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
AT&T Inc. | 4.850% | 3/1/39 | 134 | 149 | ||
AT&T Inc. | 5.350% | 9/1/40 | 125 | 149 | ||
AT&T Inc. | 3.500% | 6/1/41 | 210 | 200 | ||
AT&T Inc. | 4.300% | 12/15/42 | 220 | 229 | ||
AT&T Inc. | 3.100% | 2/1/43 | 180 | 161 | ||
AT&T Inc. | 4.350% | 6/15/45 | 105 | 109 | ||
AT&T Inc. | 4.750% | 5/15/46 | 150 | 167 | ||
AT&T Inc. | 5.650% | 2/15/47 | 210 | 262 | ||
AT&T Inc. | 4.500% | 3/9/48 | 280 | 301 | ||
AT&T Inc. | 4.550% | 3/9/49 | 300 | 325 | ||
AT&T Inc. | 5.150% | 2/15/50 | 125 | 147 | ||
AT&T Inc. | 3.650% | 6/1/51 | 410 | 387 | ||
AT&T Inc. | 3.300% | 2/1/52 | 385 | 342 | ||
AT&T Inc. | 3.500% | 9/15/53 | 490 | 449 | ||
AT&T Inc. | 3.550% | 9/15/55 | 445 | 404 | ||
AT&T Inc. | 3.800% | 12/1/57 | 167 | 157 | ||
AT&T Inc. | 3.650% | 9/15/59 | 270 | 245 | ||
AT&T Inc. | 3.850% | 6/1/60 | 205 | 192 | ||
AT&T Inc. | 3.500% | 2/1/61 | 143 | 126 | ||
Bell Telephone Co. of Canada or Bell Canada | 4.464% | 4/1/48 | 75 | 83 | ||
Booking Holdings Inc. | 3.600% | 6/1/26 | 50 | 52 | ||
Booking Holdings Inc. | 4.625% | 4/13/30 | 120 | 134 | ||
British Telecommunications plc | 9.625% | 12/15/30 | 165 | 231 | ||
1 | Charter Communications Operating LLC | 4.500% | 2/1/24 | 50 | 52 | |
Charter Communications Operating LLC | 4.908% | 7/23/25 | 240 | 255 | ||
Charter Communications Operating LLC | 3.750% | 2/15/28 | 75 | 77 | ||
Charter Communications Operating LLC | 4.200% | 3/15/28 | 205 | 214 | ||
Charter Communications Operating LLC | 2.250% | 1/15/29 | 35 | 33 | ||
Charter Communications Operating LLC | 5.050% | 3/30/29 | 205 | 224 | ||
Charter Communications Operating LLC | 2.800% | 4/1/31 | 255 | 238 | ||
Charter Communications Operating LLC | 2.300% | 2/1/32 | 110 | 98 | ||
Charter Communications Operating LLC | 6.384% | 10/23/35 | 250 | 299 | ||
Charter Communications Operating LLC | 5.375% | 4/1/38 | 115 | 122 | ||
Charter Communications Operating LLC | 3.500% | 6/1/41 | 175 | 151 | ||
Charter Communications Operating LLC | 3.500% | 3/1/42 | 155 | 133 | ||
Charter Communications Operating LLC | 6.484% | 10/23/45 | 270 | 321 | ||
Charter Communications Operating LLC | 5.375% | 5/1/47 | 180 | 189 | ||
Charter Communications Operating LLC | 5.750% | 4/1/48 | 203 | 224 | ||
Charter Communications Operating LLC | 5.125% | 7/1/49 | 60 | 61 | ||
Charter Communications Operating LLC | 4.800% | 3/1/50 | 150 | 146 | ||
Charter Communications Operating LLC | 3.700% | 4/1/51 | 185 | 155 | ||
Charter Communications Operating LLC | 3.900% | 6/1/52 | 155 | 135 | ||
Charter Communications Operating LLC | 3.850% | 4/1/61 | 220 | 182 | ||
Charter Communications Operating LLC | 4.400% | 12/1/61 | 170 | 152 | ||
Charter Communications Operating LLC | 3.950% | 6/30/62 | 105 | 88 | ||
Comcast Corp. | 3.700% | 4/15/24 | 275 | 285 | ||
Comcast Corp. | 3.375% | 2/15/25 | 125 | 129 | ||
Comcast Corp. | 3.375% | 8/15/25 | 60 | 62 | ||
Comcast Corp. | 3.950% | 10/15/25 | 275 | 290 | ||
Comcast Corp. | 3.150% | 3/1/26 | 150 | 155 | ||
Comcast Corp. | 2.350% | 1/15/27 | 170 | 170 | ||
Comcast Corp. | 3.300% | 2/1/27 | 220 | 228 | ||
Comcast Corp. | 3.150% | 2/15/28 | 25 | 26 | ||
Comcast Corp. | 3.550% | 5/1/28 | 190 | 199 | ||
Comcast Corp. | 4.150% | 10/15/28 | 310 | 336 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Comcast Corp. | 2.650% | 2/1/30 | 250 | 247 | ||
Comcast Corp. | 3.400% | 4/1/30 | 50 | 52 | ||
Comcast Corp. | 4.250% | 10/15/30 | 145 | 159 | ||
Comcast Corp. | 1.950% | 1/15/31 | 75 | 70 | ||
Comcast Corp. | 1.500% | 2/15/31 | 55 | 49 | ||
Comcast Corp. | 4.250% | 1/15/33 | 155 | 171 | ||
Comcast Corp. | 7.050% | 3/15/33 | 75 | 101 | ||
Comcast Corp. | 4.200% | 8/15/34 | 175 | 192 | ||
Comcast Corp. | 4.400% | 8/15/35 | 65 | 73 | ||
Comcast Corp. | 3.200% | 7/15/36 | 145 | 142 | ||
Comcast Corp. | 3.900% | 3/1/38 | 140 | 147 | ||
Comcast Corp. | 4.600% | 10/15/38 | 60 | 67 | ||
Comcast Corp. | 3.250% | 11/1/39 | 70 | 67 | ||
Comcast Corp. | 3.750% | 4/1/40 | 145 | 149 | ||
Comcast Corp. | 3.400% | 7/15/46 | 165 | 158 | ||
Comcast Corp. | 4.000% | 8/15/47 | 185 | 193 | ||
Comcast Corp. | 3.969% | 11/1/47 | 120 | 124 | ||
Comcast Corp. | 4.000% | 3/1/48 | 140 | 145 | ||
Comcast Corp. | 4.700% | 10/15/48 | 58 | 67 | ||
Comcast Corp. | 3.999% | 11/1/49 | 340 | 353 | ||
Comcast Corp. | 3.450% | 2/1/50 | 35 | 33 | ||
Comcast Corp. | 2.800% | 1/15/51 | 182 | 156 | ||
2 | Comcast Corp. | 2.887% | 11/1/51 | 224 | 194 | |
Comcast Corp. | 2.450% | 8/15/52 | 200 | 161 | ||
Comcast Corp. | 4.049% | 11/1/52 | 90 | 95 | ||
2 | Comcast Corp. | 2.937% | 11/1/56 | 452 | 383 | |
Comcast Corp. | 4.950% | 10/15/58 | 40 | 49 | ||
Comcast Corp. | 2.650% | 8/15/62 | 150 | 119 | ||
2 | Comcast Corp. | 2.987% | 11/1/63 | 463 | 386 | |
Deutsche Telekom International Finance BV | 8.750% | 6/15/30 | 335 | 464 | ||
Discovery Communications LLC | 2.950% | 3/20/23 | 128 | 129 | ||
Discovery Communications LLC | 3.950% | 3/20/28 | 235 | 243 | ||
Discovery Communications LLC | 4.125% | 5/15/29 | 165 | 172 | ||
Discovery Communications LLC | 3.625% | 5/15/30 | 45 | 45 | ||
Discovery Communications LLC | 5.200% | 9/20/47 | 125 | 136 | ||
Discovery Communications LLC | 5.300% | ��5/15/49 | 145 | 160 | ||
Discovery Communications LLC | 4.650% | 5/15/50 | 35 | 36 | ||
Discovery Communications LLC | 4.000% | 9/15/55 | 50 | 45 | ||
Electronic Arts Inc. | 1.850% | 2/15/31 | 45 | 41 | ||
Electronic Arts Inc. | 2.950% | 2/15/51 | 100 | 86 | ||
Expedia Group Inc. | 3.800% | 2/15/28 | 240 | 247 | ||
Expedia Group Inc. | 3.250% | 2/15/30 | 100 | 99 | ||
Expedia Group Inc. | 2.950% | 3/15/31 | 80 | 77 | ||
Fox Corp. | 4.030% | 1/25/24 | 25 | 26 | ||
Fox Corp. | 4.709% | 1/25/29 | 285 | 311 | ||
Fox Corp. | 5.476% | 1/25/39 | 165 | 193 | ||
Fox Corp. | 5.576% | 1/25/49 | 63 | 76 | ||
Grupo Televisa SAB | 5.000% | 5/13/45 | 10 | 11 | ||
Grupo Televisa SAB | 6.125% | 1/31/46 | 50 | 63 | ||
Grupo Televisa SAB | 5.250% | 5/24/49 | 100 | 115 | ||
Omnicom Group Inc. | 3.650% | 11/1/24 | 260 | 269 | ||
Omnicom Group Inc. | 3.600% | 4/15/26 | 40 | 42 | ||
Omnicom Group Inc. | 2.600% | 8/1/31 | 90 | 87 | ||
Orange SA | 9.000% | 3/1/31 | 179 | 256 | ||
Orange SA | 5.375% | 1/13/42 | 60 | 73 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Orange SA | 5.500% | 2/6/44 | 65 | 82 | ||
Paramount Global | 4.750% | 5/15/25 | 95 | 101 | ||
Paramount Global | 4.000% | 1/15/26 | 85 | 89 | ||
Paramount Global | 7.875% | 7/30/30 | 110 | 143 | ||
Paramount Global | 4.950% | 1/15/31 | 225 | 249 | ||
Paramount Global | 4.200% | 5/19/32 | 200 | 209 | ||
Paramount Global | 6.875% | 4/30/36 | 100 | 128 | ||
Paramount Global | 4.375% | 3/15/43 | 60 | 60 | ||
Paramount Global | 5.850% | 9/1/43 | 40 | 48 | ||
Paramount Global | 4.950% | 5/19/50 | 75 | 82 | ||
Rogers Communications Inc. | 4.100% | 10/1/23 | 210 | 215 | ||
Rogers Communications Inc. | 5.000% | 3/15/44 | 30 | 32 | ||
Rogers Communications Inc. | 4.300% | 2/15/48 | 75 | 74 | ||
Rogers Communications Inc. | 4.350% | 5/1/49 | 105 | 105 | ||
Rogers Communications Inc. | 3.700% | 11/15/49 | 105 | 95 | ||
Telefonica Emisiones SA | 4.103% | 3/8/27 | 210 | 222 | ||
Telefonica Emisiones SA | 7.045% | 6/20/36 | 130 | 169 | ||
Telefonica Emisiones SA | 4.665% | 3/6/38 | 90 | 93 | ||
Telefonica Emisiones SA | 5.213% | 3/8/47 | 145 | 158 | ||
Telefonica Emisiones SA | 4.895% | 3/6/48 | 85 | 89 | ||
Telefonica Emisiones SA | 5.520% | 3/1/49 | 120 | 135 | ||
Telefonica Europe BV | 8.250% | 9/15/30 | 145 | 195 | ||
TELUS Corp. | 4.600% | 11/16/48 | 105 | 118 | ||
Time Warner Cable LLC | 6.550% | 5/1/37 | 145 | 174 | ||
Time Warner Cable LLC | 7.300% | 7/1/38 | 25 | 31 | ||
Time Warner Cable LLC | 6.750% | 6/15/39 | 80 | 97 | ||
Time Warner Cable LLC | 5.875% | 11/15/40 | 125 | 139 | ||
Time Warner Cable LLC | 5.500% | 9/1/41 | 170 | 181 | ||
Time Warner Cable LLC | 4.500% | 9/15/42 | 140 | 132 | ||
Time Warner Entertainment Co. LP | 8.375% | 3/15/23 | 80 | 85 | ||
Time Warner Entertainment Co. LP | 8.375% | 7/15/33 | 125 | 169 | ||
T-Mobile USA Inc. | 3.500% | 4/15/25 | 300 | 308 | ||
T-Mobile USA Inc. | 1.500% | 2/15/26 | 175 | 168 | ||
T-Mobile USA Inc. | 3.750% | 4/15/27 | 345 | 358 | ||
T-Mobile USA Inc. | 2.050% | 2/15/28 | 275 | 262 | ||
T-Mobile USA Inc. | 3.875% | 4/15/30 | 490 | 507 | ||
T-Mobile USA Inc. | 2.550% | 2/15/31 | 230 | 215 | ||
T-Mobile USA Inc. | 2.250% | 11/15/31 | 115 | 104 | ||
2 | T-Mobile USA Inc. | 2.700% | 3/15/32 | 80 | 75 | |
T-Mobile USA Inc. | 4.375% | 4/15/40 | 75 | 78 | ||
T-Mobile USA Inc. | 3.000% | 2/15/41 | 290 | 253 | ||
T-Mobile USA Inc. | 4.500% | 4/15/50 | 245 | 256 | ||
T-Mobile USA Inc. | 3.300% | 2/15/51 | 395 | 344 | ||
2 | T-Mobile USA Inc. | 3.400% | 10/15/52 | 100 | 88 | |
T-Mobile USA Inc. | 3.600% | 11/15/60 | 140 | 123 | ||
1 | TWDC Enterprises 18 Corp. | 3.150% | 9/17/25 | 90 | 93 | |
TWDC Enterprises 18 Corp. | 3.000% | 2/13/26 | 74 | 76 | ||
1 | TWDC Enterprises 18 Corp. | 1.850% | 7/30/26 | 100 | 98 | |
1 | TWDC Enterprises 18 Corp. | 2.950% | 6/15/27 | 45 | 46 | |
1 | TWDC Enterprises 18 Corp. | 4.125% | 6/1/44 | 65 | 70 | |
VeriSign Inc. | 2.700% | 6/15/31 | 90 | 84 | ||
Verizon Communications Inc. | 3.500% | 11/1/24 | 200 | 207 | ||
Verizon Communications Inc. | 3.376% | 2/15/25 | 80 | 83 | ||
Verizon Communications Inc. | 0.850% | 11/20/25 | 200 | 190 | ||
Verizon Communications Inc. | 1.450% | 3/20/26 | 280 | 271 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Verizon Communications Inc. | 2.625% | 8/15/26 | 195 | 196 | ||
Verizon Communications Inc. | 4.125% | 3/16/27 | 345 | 370 | ||
Verizon Communications Inc. | 3.000% | 3/22/27 | 105 | 107 | ||
Verizon Communications Inc. | 2.100% | 3/22/28 | 345 | 333 | ||
Verizon Communications Inc. | 4.329% | 9/21/28 | 215 | 234 | ||
Verizon Communications Inc. | 3.875% | 2/8/29 | 45 | 48 | ||
Verizon Communications Inc. | 4.016% | 12/3/29 | 275 | 295 | ||
Verizon Communications Inc. | 3.150% | 3/22/30 | 125 | 126 | ||
Verizon Communications Inc. | 1.500% | 9/18/30 | 130 | 116 | ||
Verizon Communications Inc. | 1.680% | 10/30/30 | 200 | 180 | ||
Verizon Communications Inc. | 1.750% | 1/20/31 | 160 | 144 | ||
Verizon Communications Inc. | 2.550% | 3/21/31 | 300 | 288 | ||
2 | Verizon Communications Inc. | 2.355% | 3/15/32 | 242 | 226 | |
Verizon Communications Inc. | 4.500% | 8/10/33 | 210 | 233 | ||
Verizon Communications Inc. | 4.400% | 11/1/34 | 152 | 167 | ||
Verizon Communications Inc. | 4.272% | 1/15/36 | 115 | 126 | ||
Verizon Communications Inc. | 5.250% | 3/16/37 | 160 | 193 | ||
Verizon Communications Inc. | 2.650% | 11/20/40 | 200 | 174 | ||
Verizon Communications Inc. | 3.400% | 3/22/41 | 250 | 241 | ||
Verizon Communications Inc. | 2.850% | 9/3/41 | 130 | 116 | ||
Verizon Communications Inc. | 4.125% | 8/15/46 | 125 | 131 | ||
Verizon Communications Inc. | 4.862% | 8/21/46 | 281 | 337 | ||
Verizon Communications Inc. | 4.522% | 9/15/48 | 345 | 392 | ||
Verizon Communications Inc. | 4.000% | 3/22/50 | 170 | 175 | ||
Verizon Communications Inc. | 2.875% | 11/20/50 | 255 | 218 | ||
Verizon Communications Inc. | 3.550% | 3/22/51 | 610 | 590 | ||
Verizon Communications Inc. | 2.987% | 10/30/56 | 260 | 222 | ||
Verizon Communications Inc. | 3.000% | 11/20/60 | 255 | 212 | ||
Verizon Communications Inc. | 3.700% | 3/22/61 | 445 | 425 | ||
Vodafone Group plc | 3.750% | 1/16/24 | 168 | 174 | ||
Vodafone Group plc | 4.125% | 5/30/25 | 165 | 173 | ||
Vodafone Group plc | 4.375% | 5/30/28 | 75 | 81 | ||
Vodafone Group plc | 6.150% | 2/27/37 | 130 | 162 | ||
Vodafone Group plc | 5.000% | 5/30/38 | 65 | 74 | ||
Vodafone Group plc | 4.375% | 2/19/43 | 75 | 77 | ||
Vodafone Group plc | 5.250% | 5/30/48 | 310 | 360 | ||
Vodafone Group plc | 4.875% | 6/19/49 | 135 | 150 | ||
Vodafone Group plc | 4.250% | 9/17/50 | 170 | 174 | ||
Walt Disney Co. | 1.750% | 8/30/24 | 170 | 169 | ||
Walt Disney Co. | 3.350% | 3/24/25 | 85 | 88 | ||
Walt Disney Co. | 1.750% | 1/13/26 | 75 | 74 | ||
Walt Disney Co. | 2.200% | 1/13/28 | 105 | 103 | ||
Walt Disney Co. | 2.000% | 9/1/29 | 205 | 195 | ||
Walt Disney Co. | 3.800% | 3/22/30 | 105 | 113 | ||
Walt Disney Co. | 2.650% | 1/13/31 | 210 | 208 | ||
Walt Disney Co. | 6.200% | 12/15/34 | 115 | 148 | ||
Walt Disney Co. | 6.400% | 12/15/35 | 155 | 207 | ||
Walt Disney Co. | 6.650% | 11/15/37 | 80 | 108 | ||
Walt Disney Co. | 4.625% | 3/23/40 | 60 | 68 | ||
Walt Disney Co. | 3.500% | 5/13/40 | 155 | 155 | ||
Walt Disney Co. | 2.750% | 9/1/49 | 65 | 57 | ||
Walt Disney Co. | 4.700% | 3/23/50 | 145 | 172 | ||
Walt Disney Co. | 3.600% | 1/13/51 | 335 | 339 | ||
Walt Disney Co. | 3.800% | 5/13/60 | 100 | 103 | ||
Weibo Corp. | 3.500% | 7/5/24 | 75 | 76 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Weibo Corp. | 3.375% | 7/8/30 | 10 | 9 | ||
WPP Finance 2010 | 3.750% | 9/19/24 | 135 | 140 | ||
42,266 | ||||||
Consumer Discretionary (6.7%) | ||||||
Alibaba Group Holding Ltd. | 3.600% | 11/28/24 | 110 | 113 | ||
Alibaba Group Holding Ltd. | 3.400% | 12/6/27 | 125 | 127 | ||
Alibaba Group Holding Ltd. | 2.125% | 2/9/31 | 160 | 144 | ||
Alibaba Group Holding Ltd. | 4.000% | 12/6/37 | 175 | 171 | ||
Alibaba Group Holding Ltd. | 2.700% | 2/9/41 | 220 | 177 | ||
Alibaba Group Holding Ltd. | 4.200% | 12/6/47 | 100 | 97 | ||
Alibaba Group Holding Ltd. | 3.150% | 2/9/51 | 65 | 53 | ||
Alibaba Group Holding Ltd. | 4.400% | 12/6/57 | 80 | 79 | ||
Amazon.com Inc. | 0.250% | 5/12/23 | 95 | 94 | ||
Amazon.com Inc. | 0.450% | 5/12/24 | 170 | 166 | ||
Amazon.com Inc. | 2.800% | 8/22/24 | 255 | 261 | ||
Amazon.com Inc. | 3.800% | 12/5/24 | 110 | 115 | ||
Amazon.com Inc. | 0.800% | 6/3/25 | 75 | 72 | ||
Amazon.com Inc. | 1.000% | 5/12/26 | 380 | 366 | ||
Amazon.com Inc. | 1.200% | 6/3/27 | 130 | 124 | ||
Amazon.com Inc. | 3.150% | 8/22/27 | 330 | 345 | ||
Amazon.com Inc. | 1.650% | 5/12/28 | 120 | 115 | ||
Amazon.com Inc. | 1.500% | 6/3/30 | 200 | 185 | ||
Amazon.com Inc. | 2.100% | 5/12/31 | 165 | 159 | ||
Amazon.com Inc. | 4.800% | 12/5/34 | 110 | 132 | ||
Amazon.com Inc. | 3.875% | 8/22/37 | 250 | 275 | ||
Amazon.com Inc. | 2.875% | 5/12/41 | 85 | 81 | ||
Amazon.com Inc. | 4.950% | 12/5/44 | 205 | 255 | ||
Amazon.com Inc. | 4.050% | 8/22/47 | 260 | 292 | ||
Amazon.com Inc. | 2.500% | 6/3/50 | 145 | 125 | ||
Amazon.com Inc. | 3.100% | 5/12/51 | 315 | 304 | ||
Amazon.com Inc. | 4.250% | 8/22/57 | 165 | 191 | ||
Amazon.com Inc. | 2.700% | 6/3/60 | 278 | 238 | ||
Amazon.com Inc. | 3.250% | 5/12/61 | 125 | 119 | ||
1 | American Honda Finance Corp. | 1.950% | 5/10/23 | 100 | 101 | |
1 | American Honda Finance Corp. | 0.875% | 7/7/23 | 130 | 129 | |
1 | American Honda Finance Corp. | 0.650% | 9/8/23 | 65 | 64 | |
1 | American Honda Finance Corp. | 0.750% | 8/9/24 | 50 | 49 | |
1 | American Honda Finance Corp. | 1.200% | 7/8/25 | 75 | 73 | |
1 | American Honda Finance Corp. | 1.000% | 9/10/25 | 10 | 10 | |
1 | American Honda Finance Corp. | 2.000% | 3/24/28 | 150 | 145 | |
Aptiv plc | 3.100% | 12/1/51 | 205 | 173 | ||
AutoZone Inc. | 4.000% | 4/15/30 | 85 | 90 | ||
BorgWarner Inc. | 2.650% | 7/1/27 | 85 | 85 | ||
Daimler Finance North America LLC | 8.500% | 1/18/31 | 250 | 355 | ||
eBay Inc. | 3.450% | 8/1/24 | 20 | 21 | ||
eBay Inc. | 1.900% | 3/11/25 | 45 | 45 | ||
eBay Inc. | 1.400% | 5/10/26 | 95 | 91 | ||
eBay Inc. | 3.600% | 6/5/27 | 70 | 73 | ||
eBay Inc. | 2.700% | 3/11/30 | 80 | 77 | ||
eBay Inc. | 2.600% | 5/10/31 | 35 | 33 | ||
eBay Inc. | 4.000% | 7/15/42 | 62 | 63 | ||
eBay Inc. | 3.650% | 5/10/51 | 60 | 57 | ||
General Motors Co. | 4.875% | 10/2/23 | 200 | 209 | ||
General Motors Co. | 5.400% | 10/2/23 | 25 | 26 | ||
General Motors Co. | 6.125% | 10/1/25 | 145 | 160 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
General Motors Co. | 4.200% | 10/1/27 | 145 | 153 | ||
General Motors Co. | 6.800% | 10/1/27 | 150 | 177 | ||
General Motors Co. | 5.000% | 10/1/28 | 110 | 120 | ||
General Motors Co. | 5.000% | 4/1/35 | 115 | 124 | ||
General Motors Co. | 6.600% | 4/1/36 | 35 | 43 | ||
General Motors Co. | 5.150% | 4/1/38 | 20 | 22 | ||
General Motors Co. | 6.250% | 10/2/43 | 150 | 182 | ||
General Motors Co. | 5.200% | 4/1/45 | 165 | 178 | ||
General Motors Co. | 6.750% | 4/1/46 | 90 | 115 | ||
General Motors Co. | 5.400% | 4/1/48 | 75 | 83 | ||
General Motors Co. | 5.950% | 4/1/49 | 65 | 78 | ||
General Motors Financial Co. Inc. | 3.700% | 5/9/23 | 135 | 137 | ||
General Motors Financial Co. Inc. | 4.150% | 6/19/23 | 145 | 149 | ||
General Motors Financial Co. Inc. | 5.100% | 1/17/24 | 70 | 73 | ||
General Motors Financial Co. Inc. | 1.050% | 3/8/24 | 160 | 156 | ||
General Motors Financial Co. Inc. | 3.950% | 4/13/24 | 67 | 69 | ||
General Motors Financial Co. Inc. | 1.200% | 10/15/24 | 185 | 179 | ||
General Motors Financial Co. Inc. | 3.500% | 11/7/24 | 75 | 77 | ||
General Motors Financial Co. Inc. | 4.000% | 1/15/25 | 100 | 103 | ||
General Motors Financial Co. Inc. | 2.900% | 2/26/25 | 100 | 101 | ||
General Motors Financial Co. Inc. | 4.350% | 4/9/25 | 35 | 37 | ||
General Motors Financial Co. Inc. | 2.750% | 6/20/25 | 25 | 25 | ||
General Motors Financial Co. Inc. | 4.300% | 7/13/25 | 85 | 89 | ||
General Motors Financial Co. Inc. | 1.250% | 1/8/26 | 110 | 104 | ||
General Motors Financial Co. Inc. | 5.250% | 3/1/26 | 125 | 135 | ||
General Motors Financial Co. Inc. | 1.500% | 6/10/26 | 210 | 199 | ||
General Motors Financial Co. Inc. | 4.000% | 10/6/26 | 105 | 110 | ||
General Motors Financial Co. Inc. | 4.350% | 1/17/27 | 85 | 90 | ||
General Motors Financial Co. Inc. | 2.700% | 8/20/27 | 40 | 39 | ||
General Motors Financial Co. Inc. | 2.400% | 4/10/28 | 85 | 81 | ||
General Motors Financial Co. Inc. | 2.400% | 10/15/28 | 40 | 38 | ||
General Motors Financial Co. Inc. | 3.600% | 6/21/30 | 65 | 65 | ||
General Motors Financial Co. Inc. | 2.350% | 1/8/31 | 10 | 9 | ||
General Motors Financial Co. Inc. | 3.100% | 1/12/32 | 150 | 143 | ||
Hasbro Inc. | 3.900% | 11/19/29 | 75 | 78 | ||
Home Depot Inc. | 2.700% | 4/1/23 | 95 | 96 | ||
Home Depot Inc. | 3.750% | 2/15/24 | 210 | 217 | ||
Home Depot Inc. | 3.350% | 9/15/25 | 75 | 78 | ||
Home Depot Inc. | 3.000% | 4/1/26 | 160 | 166 | ||
Home Depot Inc. | 2.125% | 9/15/26 | 120 | 120 | ||
Home Depot Inc. | 2.500% | 4/15/27 | 75 | 76 | ||
Home Depot Inc. | 2.800% | 9/14/27 | 20 | 20 | ||
Home Depot Inc. | 1.500% | 9/15/28 | 65 | 62 | ||
Home Depot Inc. | 3.900% | 12/6/28 | 90 | 97 | ||
Home Depot Inc. | 2.950% | 6/15/29 | 95 | 97 | ||
Home Depot Inc. | 2.700% | 4/15/30 | 140 | 140 | ||
Home Depot Inc. | 1.375% | 3/15/31 | 50 | 45 | ||
Home Depot Inc. | 1.875% | 9/15/31 | 150 | 139 | ||
Home Depot Inc. | 5.875% | 12/16/36 | 189 | 250 | ||
Home Depot Inc. | 3.300% | 4/15/40 | 131 | 131 | ||
Home Depot Inc. | 5.950% | 4/1/41 | 55 | 73 | ||
Home Depot Inc. | 4.200% | 4/1/43 | 30 | 33 | ||
Home Depot Inc. | 4.400% | 3/15/45 | 190 | 215 | ||
Home Depot Inc. | 4.250% | 4/1/46 | 215 | 239 | ||
Home Depot Inc. | 3.900% | 6/15/47 | 125 | 133 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Home Depot Inc. | 4.500% | 12/6/48 | 145 | 168 | ||
Home Depot Inc. | 3.125% | 12/15/49 | 120 | 113 | ||
Home Depot Inc. | 3.350% | 4/15/50 | 145 | 142 | ||
Home Depot Inc. | 2.750% | 9/15/51 | 60 | 53 | ||
Home Depot Inc. | 3.500% | 9/15/56 | 185 | 185 | ||
Hyatt Hotels Corp. | 1.800% | 10/1/24 | 60 | 59 | ||
Lennar Corp. | 4.750% | 11/29/27 | 175 | 190 | ||
Lowe's Cos. Inc. | 4.000% | 4/15/25 | 85 | 89 | ||
Lowe's Cos. Inc. | 3.375% | 9/15/25 | 50 | 52 | ||
Lowe's Cos. Inc. | 2.500% | 4/15/26 | 150 | 152 | ||
Lowe's Cos. Inc. | 1.300% | 4/15/28 | 25 | 23 | ||
Lowe's Cos. Inc. | 1.700% | 9/15/28 | 60 | 56 | ||
Lowe's Cos. Inc. | 3.650% | 4/5/29 | 126 | 132 | ||
Lowe's Cos. Inc. | 4.500% | 4/15/30 | 65 | 72 | ||
Lowe's Cos. Inc. | 1.700% | 10/15/30 | 120 | 108 | ||
Lowe's Cos. Inc. | 2.625% | 4/1/31 | 135 | 130 | ||
Lowe's Cos. Inc. | 2.800% | 9/15/41 | 60 | 53 | ||
Lowe's Cos. Inc. | 3.700% | 4/15/46 | 140 | 137 | ||
Lowe's Cos. Inc. | 4.050% | 5/3/47 | 135 | 139 | ||
Lowe's Cos. Inc. | 3.000% | 10/15/50 | 180 | 157 | ||
Magna International Inc. | 3.625% | 6/15/24 | 100 | 103 | ||
Magna International Inc. | 2.450% | 6/15/30 | 55 | 53 | ||
1 | Marriott International Inc. | 3.125% | 6/15/26 | 110 | 112 | |
1 | Marriott International Inc. | 4.625% | 6/15/30 | 105 | 113 | |
1 | Marriott International Inc. | 2.850% | 4/15/31 | 65 | 62 | |
1 | Marriott International Inc. | 3.500% | 10/15/32 | 95 | 95 | |
1 | McDonald's Corp. | 3.300% | 7/1/25 | 25 | 26 | |
1 | McDonald's Corp. | 3.700% | 1/30/26 | 125 | 131 | |
1 | McDonald's Corp. | 3.500% | 3/1/27 | 50 | 52 | |
1 | McDonald's Corp. | 3.500% | 7/1/27 | 55 | 58 | |
1 | McDonald's Corp. | 3.800% | 4/1/28 | 175 | 186 | |
1 | McDonald's Corp. | 2.625% | 9/1/29 | 194 | 191 | |
1 | McDonald's Corp. | 2.125% | 3/1/30 | 50 | 47 | |
1 | McDonald's Corp. | 3.600% | 7/1/30 | 30 | 32 | |
1 | McDonald's Corp. | 4.700% | 12/9/35 | 180 | 204 | |
1 | McDonald's Corp. | 6.300% | 10/15/37 | 90 | 119 | |
1 | McDonald's Corp. | 6.300% | 3/1/38 | 165 | 216 | |
1 | McDonald's Corp. | 4.875% | 12/9/45 | 85 | 97 | |
1 | McDonald's Corp. | 4.450% | 3/1/47 | 100 | 109 | |
1 | McDonald's Corp. | 4.450% | 9/1/48 | 87 | 96 | |
1 | McDonald's Corp. | 3.625% | 9/1/49 | 40 | 39 | |
1 | McDonald's Corp. | 4.200% | 4/1/50 | 20 | 21 | |
NIKE Inc. | 2.400% | 3/27/25 | 20 | 20 | ||
NIKE Inc. | 2.375% | 11/1/26 | 170 | 172 | ||
NIKE Inc. | 2.750% | 3/27/27 | 69 | 71 | ||
NIKE Inc. | 2.850% | 3/27/30 | 115 | 117 | ||
NIKE Inc. | 3.250% | 3/27/40 | 95 | 95 | ||
NIKE Inc. | 3.875% | 11/1/45 | 20 | 22 | ||
NIKE Inc. | 3.375% | 3/27/50 | 173 | 176 | ||
NVR Inc. | 3.000% | 5/15/30 | 62 | 61 | ||
O'Reilly Automotive Inc. | 3.600% | 9/1/27 | 70 | 73 | ||
Ralph Lauren Corp. | 2.950% | 6/15/30 | 50 | 50 | ||
Stanley Black & Decker Inc. | 2.300% | 3/15/30 | 50 | 48 | ||
Stanley Black & Decker Inc. | 2.750% | 11/15/50 | 45 | 39 | ||
1 | Stanley Black & Decker Inc. | 4.000% | 3/15/60 | 85 | 83 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Starbucks Corp. | 3.100% | 3/1/23 | 80 | 81 | ||
Starbucks Corp. | 3.850% | 10/1/23 | 60 | 62 | ||
Starbucks Corp. | 3.800% | 8/15/25 | 150 | 157 | ||
Starbucks Corp. | 4.000% | 11/15/28 | 70 | 75 | ||
Starbucks Corp. | 3.550% | 8/15/29 | 175 | 182 | ||
Starbucks Corp. | 2.250% | 3/12/30 | 50 | 47 | ||
Starbucks Corp. | 2.550% | 11/15/30 | 85 | 82 | ||
Starbucks Corp. | 4.500% | 11/15/48 | 60 | 65 | ||
Starbucks Corp. | 4.450% | 8/15/49 | 95 | 102 | ||
Starbucks Corp. | 3.500% | 11/15/50 | 110 | 103 | ||
Stellantis NV | 5.250% | 4/15/23 | 170 | 176 | ||
TJX Cos. Inc. | 2.250% | 9/15/26 | 180 | 180 | ||
VF Corp. | 2.400% | 4/23/25 | 130 | 130 | ||
VF Corp. | 2.950% | 4/23/30 | 35 | 35 | ||
19,968 | ||||||
Consumer Staples (3.6%) | ||||||
Archer-Daniels-Midland Co. | 2.500% | 8/11/26 | 215 | 217 | ||
Archer-Daniels-Midland Co. | 3.250% | 3/27/30 | 85 | 88 | ||
Archer-Daniels-Midland Co. | 2.700% | 9/15/51 | 50 | 45 | ||
Bunge Ltd. Finance Corp. | 2.750% | 5/14/31 | 105 | 100 | ||
Campbell Soup Co. | 3.950% | 3/15/25 | 160 | 167 | ||
Campbell Soup Co. | 4.150% | 3/15/28 | 55 | 59 | ||
Coca-Cola Co. | 1.750% | 9/6/24 | 60 | 60 | ||
Coca-Cola Co. | 3.375% | 3/25/27 | 70 | 74 | ||
Coca-Cola Co. | 1.450% | 6/1/27 | 75 | 72 | ||
Coca-Cola Co. | 1.500% | 3/5/28 | 100 | 96 | ||
Coca-Cola Co. | 1.000% | 3/15/28 | 215 | 199 | ||
Coca-Cola Co. | 2.125% | 9/6/29 | 170 | 166 | ||
Coca-Cola Co. | 3.450% | 3/25/30 | 105 | 111 | ||
Coca-Cola Co. | 1.650% | 6/1/30 | 65 | 60 | ||
Coca-Cola Co. | 2.000% | 3/5/31 | 205 | 194 | ||
Coca-Cola Co. | 1.375% | 3/15/31 | 70 | 63 | ||
Coca-Cola Co. | 2.250% | 1/5/32 | 115 | 111 | ||
Coca-Cola Co. | 2.500% | 6/1/40 | 130 | 118 | ||
Coca-Cola Co. | 2.875% | 5/5/41 | 100 | 95 | ||
Coca-Cola Co. | 2.600% | 6/1/50 | 58 | 51 | ||
Coca-Cola Co. | 3.000% | 3/5/51 | 165 | 157 | ||
Coca-Cola Co. | 2.500% | 3/15/51 | 105 | 90 | ||
Coca-Cola Co. | 2.750% | 6/1/60 | 125 | 109 | ||
Conagra Brands Inc. | 4.300% | 5/1/24 | 105 | 109 | ||
Conagra Brands Inc. | 4.600% | 11/1/25 | 125 | 133 | ||
Conagra Brands Inc. | 1.375% | 11/1/27 | 25 | 23 | ||
Conagra Brands Inc. | 4.850% | 11/1/28 | 50 | 55 | ||
Conagra Brands Inc. | 5.300% | 11/1/38 | 40 | 46 | ||
Conagra Brands Inc. | 5.400% | 11/1/48 | 150 | 182 | ||
Dollar General Corp. | 3.250% | 4/15/23 | 105 | 107 | ||
Dollar General Corp. | 3.500% | 4/3/30 | 60 | 61 | ||
Dollar Tree Inc. | 4.000% | 5/15/25 | 105 | 110 | ||
Dollar Tree Inc. | 4.200% | 5/15/28 | 140 | 150 | ||
Dollar Tree Inc. | 2.650% | 12/1/31 | 60 | 57 | ||
General Mills Inc. | 3.700% | 10/17/23 | 185 | 190 | ||
General Mills Inc. | 4.000% | 4/17/25 | 60 | 63 | ||
General Mills Inc. | 4.200% | 4/17/28 | 80 | 86 | ||
General Mills Inc. | 2.875% | 4/15/30 | 85 | 85 | ||
Hormel Foods Corp. | 0.650% | 6/3/24 | 150 | 146 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Hormel Foods Corp. | 1.700% | 6/3/28 | 10 | 10 | ||
Hormel Foods Corp. | 1.800% | 6/11/30 | 40 | 37 | ||
J M Smucker Co. | 3.500% | 3/15/25 | 60 | 62 | ||
Kellogg Co. | 3.250% | 4/1/26 | 115 | 118 | ||
Keurig Dr Pepper Inc. | 4.057% | 5/25/23 | 158 | 162 | ||
Keurig Dr Pepper Inc. | 0.750% | 3/15/24 | 25 | 24 | ||
Keurig Dr Pepper Inc. | 4.417% | 5/25/25 | 85 | 90 | ||
Keurig Dr Pepper Inc. | 4.597% | 5/25/28 | 190 | 208 | ||
Keurig Dr Pepper Inc. | 3.200% | 5/1/30 | 80 | 81 | ||
Keurig Dr Pepper Inc. | 3.800% | 5/1/50 | 30 | 29 | ||
Kimberly-Clark Corp. | 3.100% | 3/26/30 | 40 | 41 | ||
McCormick & Co. Inc. | 3.400% | 8/15/27 | 80 | 83 | ||
Mead Johnson Nutrition Co. | 4.125% | 11/15/25 | 276 | 291 | ||
Mondelez International Inc. | 1.500% | 5/4/25 | 155 | 151 | ||
Mondelez International Inc. | 2.750% | 4/13/30 | 25 | 25 | ||
Mondelez International Inc. | 2.625% | 9/4/50 | 145 | 122 | ||
PepsiCo Inc. | 2.750% | 3/1/23 | 85 | 86 | ||
PepsiCo Inc. | 0.400% | 10/7/23 | 145 | 142 | ||
PepsiCo Inc. | 3.600% | 3/1/24 | 81 | 84 | ||
PepsiCo Inc. | 2.250% | 3/19/25 | 155 | 157 | ||
PepsiCo Inc. | 2.750% | 4/30/25 | 100 | 102 | ||
PepsiCo Inc. | 2.375% | 10/6/26 | 80 | 81 | ||
PepsiCo Inc. | 3.000% | 10/15/27 | 125 | 130 | ||
PepsiCo Inc. | 2.625% | 7/29/29 | 115 | 116 | ||
PepsiCo Inc. | 2.750% | 3/19/30 | 100 | 101 | ||
PepsiCo Inc. | 1.625% | 5/1/30 | 65 | 61 | ||
PepsiCo Inc. | 1.950% | 10/21/31 | 140 | 132 | ||
PepsiCo Inc. | 2.625% | 10/21/41 | 95 | 88 | ||
PepsiCo Inc. | 4.450% | 4/14/46 | 150 | 178 | ||
PepsiCo Inc. | 3.450% | 10/6/46 | 110 | 113 | ||
PepsiCo Inc. | 2.875% | 10/15/49 | 50 | 47 | ||
PepsiCo Inc. | 3.625% | 3/19/50 | 90 | 96 | ||
PepsiCo Inc. | 2.750% | 10/21/51 | 100 | 92 | ||
Procter & Gamble Co. | 3.100% | 8/15/23 | 85 | 87 | ||
Procter & Gamble Co. | 0.550% | 10/29/25 | 225 | 214 | ||
Procter & Gamble Co. | 1.000% | 4/23/26 | 10 | 10 | ||
Procter & Gamble Co. | 2.450% | 11/3/26 | 195 | 199 | ||
Procter & Gamble Co. | 2.850% | 8/11/27 | 90 | 93 | ||
Procter & Gamble Co. | 3.000% | 3/25/30 | 65 | 68 | ||
Procter & Gamble Co. | 1.200% | 10/29/30 | 75 | 68 | ||
Procter & Gamble Co. | 1.950% | 4/23/31 | 10 | 10 | ||
Sysco Corp. | 3.750% | 10/1/25 | 25 | 26 | ||
Sysco Corp. | 3.300% | 7/15/26 | 160 | 165 | ||
Sysco Corp. | 3.250% | 7/15/27 | 85 | 88 | ||
Sysco Corp. | 5.950% | 4/1/30 | 17 | 20 | ||
Sysco Corp. | 6.600% | 4/1/50 | 100 | 139 | ||
Target Corp. | 3.500% | 7/1/24 | 55 | 57 | ||
Target Corp. | 2.250% | 4/15/25 | 175 | 176 | ||
Target Corp. | 2.500% | 4/15/26 | 35 | 36 | ||
Target Corp. | 1.950% | 1/15/27 | 60 | 59 | ||
Target Corp. | 3.375% | 4/15/29 | 195 | 207 | ||
Target Corp. | 2.350% | 2/15/30 | 120 | 118 | ||
Target Corp. | 4.000% | 7/1/42 | 75 | 83 | ||
Target Corp. | 2.950% | 1/15/52 | 135 | 127 | ||
Tyson Foods Inc. | 3.950% | 8/15/24 | 117 | 122 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Tyson Foods Inc. | 4.000% | 3/1/26 | 45 | 47 | ||
Tyson Foods Inc. | 3.550% | 6/2/27 | 160 | 166 | ||
Tyson Foods Inc. | 4.550% | 6/2/47 | 45 | 50 | ||
Tyson Foods Inc. | 5.100% | 9/28/48 | 115 | 138 | ||
Unilever Capital Corp. | 2.600% | 5/5/24 | 165 | 167 | ||
Unilever Capital Corp. | 2.900% | 5/5/27 | 115 | 118 | ||
Unilever Capital Corp. | 3.500% | 3/22/28 | 45 | 47 | ||
Unilever Capital Corp. | 2.125% | 9/6/29 | 25 | 24 | ||
Unilever Capital Corp. | 1.750% | 8/12/31 | 90 | 83 | ||
Unilever Capital Corp. | 5.900% | 11/15/32 | 130 | 165 | ||
Walgreens Boots Alliance Inc. | 3.800% | 11/18/24 | 85 | 88 | ||
Walgreens Boots Alliance Inc. | 3.450% | 6/1/26 | 75 | 78 | ||
Walgreens Boots Alliance Inc. | 4.800% | 11/18/44 | 95 | 104 | ||
Walgreens Boots Alliance Inc. | 4.100% | 4/15/50 | 40 | 40 | ||
10,932 | ||||||
Financials (39.8%) | ||||||
1 | Aegon NV | 5.500% | 4/11/48 | 10 | 11 | |
AerCap Ireland Capital DAC | 4.500% | 9/15/23 | 40 | 41 | ||
AerCap Ireland Capital DAC | 1.150% | 10/29/23 | 150 | 147 | ||
AerCap Ireland Capital DAC | 4.875% | 1/16/24 | 65 | 68 | ||
AerCap Ireland Capital DAC | 3.150% | 2/15/24 | 50 | 51 | ||
AerCap Ireland Capital DAC | 2.875% | 8/14/24 | 264 | 265 | ||
AerCap Ireland Capital DAC | 1.650% | 10/29/24 | 260 | 252 | ||
1 | AerCap Ireland Capital DAC | 1.750% | 10/29/24 | 60 | 58 | |
AerCap Ireland Capital DAC | 3.500% | 1/15/25 | 55 | 56 | ||
AerCap Ireland Capital DAC | 6.500% | 7/15/25 | 125 | 138 | ||
AerCap Ireland Capital DAC | 2.450% | 10/29/26 | 320 | 308 | ||
AerCap Ireland Capital DAC | 3.650% | 7/21/27 | 150 | 152 | ||
AerCap Ireland Capital DAC | 3.000% | 10/29/28 | 215 | 207 | ||
AerCap Ireland Capital DAC | 3.300% | 1/30/32 | 400 | 379 | ||
AerCap Ireland Capital DAC | 3.400% | 10/29/33 | 100 | 94 | ||
AerCap Ireland Capital DAC | 3.850% | 10/29/41 | 160 | 147 | ||
Aflac Inc. | 3.625% | 11/15/24 | 140 | 146 | ||
Aflac Inc. | 3.600% | 4/1/30 | 115 | 122 | ||
Air Lease Corp. | 3.000% | 9/15/23 | 120 | 121 | ||
1 | Air Lease Corp. | 0.700% | 2/15/24 | 10 | 10 | |
1 | Air Lease Corp. | 2.300% | 2/1/25 | 85 | 84 | |
Air Lease Corp. | 3.375% | 7/1/25 | 50 | 51 | ||
1 | Air Lease Corp. | 2.875% | 1/15/26 | 110 | 110 | |
1 | Air Lease Corp. | 3.750% | 6/1/26 | 185 | 190 | |
Air Lease Corp. | 3.125% | 12/1/30 | 80 | 77 | ||
1 | Allstate Corp. | 5.750% | 8/15/53 | 30 | 30 | |
Ally Financial Inc. | 3.050% | 6/5/23 | 100 | 101 | ||
Ally Financial Inc. | 1.450% | 10/2/23 | 125 | 124 | ||
Ally Financial Inc. | 3.875% | 5/21/24 | 60 | 62 | ||
Ally Financial Inc. | 5.800% | 5/1/25 | 220 | 238 | ||
Ally Financial Inc. | 2.200% | 11/2/28 | 135 | 127 | ||
1 | Ally Financial Inc. | 8.000% | 11/1/31 | 153 | 201 | |
American Express Co. | 3.700% | 8/3/23 | 115 | 118 | ||
American Express Co. | 0.750% | 11/3/23 | 110 | 108 | ||
American Express Co. | 3.400% | 2/22/24 | 130 | 134 | ||
American Express Co. | 2.500% | 7/30/24 | 125 | 126 | ||
American Express Co. | 3.000% | 10/30/24 | 195 | 199 | ||
American Express Co. | 4.200% | 11/6/25 | 25 | 27 | ||
American Express Co. | 3.125% | 5/20/26 | 90 | 92 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
American Express Co. | 1.650% | 11/4/26 | 135 | 131 | ||
2 | American Express Co. | 3.300% | 5/3/27 | 60 | 62 | |
American Express Co. | 4.050% | 12/3/42 | 70 | 77 | ||
American International Group Inc. | 4.125% | 2/15/24 | 25 | 26 | ||
American International Group Inc. | 2.500% | 6/30/25 | 110 | 110 | ||
American International Group Inc. | 3.750% | 7/10/25 | 20 | 21 | ||
American International Group Inc. | 3.900% | 4/1/26 | 145 | 152 | ||
American International Group Inc. | 4.200% | 4/1/28 | 115 | 124 | ||
American International Group Inc. | 3.400% | 6/30/30 | 125 | 129 | ||
American International Group Inc. | 3.875% | 1/15/35 | 115 | 120 | ||
American International Group Inc. | 4.500% | 7/16/44 | 60 | 67 | ||
American International Group Inc. | 4.800% | 7/10/45 | 10 | 12 | ||
American International Group Inc. | 4.750% | 4/1/48 | 175 | 203 | ||
1 | American International Group Inc. | 5.750% | 4/1/48 | 10 | 10 | |
American International Group Inc. | 4.375% | 1/15/55 | 170 | 185 | ||
Ameriprise Financial Inc. | 4.000% | 10/15/23 | 100 | 103 | ||
Aon Corp. | 3.750% | 5/2/29 | 10 | 10 | ||
Aon Corp. | 2.800% | 5/15/30 | 95 | 94 | ||
Aon Corp. | 3.900% | 2/28/52 | 105 | 106 | ||
Aon plc | 3.875% | 12/15/25 | 25 | 26 | ||
Arch Capital Group Ltd. | 3.635% | 6/30/50 | 95 | 91 | ||
Arthur J Gallagher & Co. | 3.500% | 5/20/51 | 85 | 80 | ||
Athene Holding Ltd. | 4.125% | 1/12/28 | 230 | 241 | ||
1 | Australia & New Zealand Banking Group Ltd. | 3.700% | 11/16/25 | 95 | 100 | |
AXA SA | 8.600% | 12/15/30 | 60 | 81 | ||
Banco Bilbao Vizcaya Argentaria SA | 0.875% | 9/18/23 | 135 | 133 | ||
Banco Bilbao Vizcaya Argentaria SA | 1.125% | 9/18/25 | 70 | 67 | ||
Banco Santander SA | 3.848% | 4/12/23 | 130 | 133 | ||
Banco Santander SA | 2.706% | 6/27/24 | 215 | 217 | ||
Banco Santander SA | 0.701% | 6/30/24 | 110 | 108 | ||
Banco Santander SA | 2.746% | 5/28/25 | 110 | 110 | ||
Banco Santander SA | 5.179% | 11/19/25 | 60 | 64 | ||
Banco Santander SA | 1.849% | 3/25/26 | 40 | 38 | ||
Banco Santander SA | 4.250% | 4/11/27 | 160 | 169 | ||
Banco Santander SA | 3.800% | 2/23/28 | 65 | 67 | ||
Banco Santander SA | 4.379% | 4/12/28 | 25 | 27 | ||
Banco Santander SA | 3.306% | 6/27/29 | 20 | 20 | ||
Banco Santander SA | 3.490% | 5/28/30 | 190 | 191 | ||
Banco Santander SA | 2.749% | 12/3/30 | 75 | 68 | ||
Banco Santander SA | 2.958% | 3/25/31 | 70 | 67 | ||
Banco Santander SA | 3.225% | 11/22/32 | 210 | 195 | ||
Bank of America Corp. | 4.100% | 7/24/23 | 310 | 320 | ||
1 | Bank of America Corp. | 4.125% | 1/22/24 | 185 | 192 | |
1 | Bank of America Corp. | 3.550% | 3/5/24 | 390 | 396 | |
1 | Bank of America Corp. | 4.000% | 4/1/24 | 125 | 130 | |
1 | Bank of America Corp. | 1.486% | 5/19/24 | 110 | 109 | |
1 | Bank of America Corp. | 0.523% | 6/14/24 | 220 | 216 | |
1 | Bank of America Corp. | 3.864% | 7/23/24 | 200 | 205 | |
1 | Bank of America Corp. | 4.200% | 8/26/24 | 365 | 380 | |
1 | Bank of America Corp. | 0.810% | 10/24/24 | 225 | 220 | |
1 | Bank of America Corp. | 4.000% | 1/22/25 | 250 | 260 | |
Bank of America Corp. | 1.843% | 2/4/25 | 200 | 198 | ||
1 | Bank of America Corp. | 3.458% | 3/15/25 | 210 | 214 | |
1 | Bank of America Corp. | 3.950% | 4/21/25 | 150 | 155 | |
Bank of America Corp. | 0.976% | 4/22/25 | 125 | 121 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Bank of America Corp. | 3.875% | 8/1/25 | 130 | 136 | |
1 | Bank of America Corp. | 0.981% | 9/25/25 | 185 | 178 | |
1 | Bank of America Corp. | 3.093% | 10/1/25 | 160 | 162 | |
1 | Bank of America Corp. | 2.456% | 10/22/25 | 175 | 175 | |
1 | Bank of America Corp. | 1.530% | 12/6/25 | 120 | 117 | |
1 | Bank of America Corp. | 3.366% | 1/23/26 | 50 | 51 | |
1 | Bank of America Corp. | 2.015% | 2/13/26 | 310 | 305 | |
1 | Bank of America Corp. | 4.450% | 3/3/26 | 220 | 234 | |
1 | Bank of America Corp. | 3.500% | 4/19/26 | 150 | 156 | |
1 | Bank of America Corp. | 1.319% | 6/19/26 | 235 | 225 | |
1 | Bank of America Corp. | 4.250% | 10/22/26 | 133 | 141 | |
1 | Bank of America Corp. | 1.197% | 10/24/26 | 305 | 289 | |
1 | Bank of America Corp. | 1.658% | 3/11/27 | 50 | 48 | |
1 | Bank of America Corp. | 3.559% | 4/23/27 | 235 | 241 | |
Bank of America Corp. | 1.734% | 7/22/27 | 440 | 420 | ||
1 | Bank of America Corp. | 3.248% | 10/21/27 | 195 | 199 | |
1 | Bank of America Corp. | 4.183% | 11/25/27 | 150 | 158 | |
1 | Bank of America Corp. | 3.824% | 1/20/28 | 160 | 167 | |
1 | Bank of America Corp. | 3.705% | 4/24/28 | 135 | 140 | |
1 | Bank of America Corp. | 3.593% | 7/21/28 | 125 | 129 | |
1 | Bank of America Corp. | 3.419% | 12/20/28 | 398 | 407 | |
1 | Bank of America Corp. | 3.970% | 3/5/29 | 425 | 445 | |
1 | Bank of America Corp. | 2.087% | 6/14/29 | 270 | 256 | |
1 | Bank of America Corp. | 4.271% | 7/23/29 | 248 | 264 | |
1 | Bank of America Corp. | 3.974% | 2/7/30 | 270 | 283 | |
1 | Bank of America Corp. | 3.194% | 7/23/30 | 150 | 150 | |
1 | Bank of America Corp. | 2.884% | 10/22/30 | 235 | 230 | |
1 | Bank of America Corp. | 2.496% | 2/13/31 | 265 | 252 | |
1 | Bank of America Corp. | 2.592% | 4/29/31 | 225 | 215 | |
1 | Bank of America Corp. | 1.898% | 7/23/31 | 225 | 204 | |
1 | Bank of America Corp. | 1.922% | 10/24/31 | 200 | 181 | |
1 | Bank of America Corp. | 2.651% | 3/11/32 | 165 | 158 | |
Bank of America Corp. | 2.687% | 4/22/32 | 260 | 250 | ||
Bank of America Corp. | 2.299% | 7/21/32 | 360 | 334 | ||
Bank of America Corp. | 2.572% | 10/20/32 | 155 | 147 | ||
Bank of America Corp. | 2.972% | 2/4/33 | 240 | 235 | ||
Bank of America Corp. | 2.482% | 9/21/36 | 120 | 109 | ||
Bank of America Corp. | 6.110% | 1/29/37 | 240 | 302 | ||
1 | Bank of America Corp. | 4.244% | 4/24/38 | 145 | 158 | |
Bank of America Corp. | 7.750% | 5/14/38 | 340 | 493 | ||
1 | Bank of America Corp. | 4.078% | 4/23/40 | 70 | 74 | |
1 | Bank of America Corp. | 2.676% | 6/19/41 | 435 | 382 | |
1 | Bank of America Corp. | 5.875% | 2/7/42 | 170 | 221 | |
Bank of America Corp. | 3.311% | 4/22/42 | 215 | 206 | ||
1 | Bank of America Corp. | 5.000% | 1/21/44 | 85 | 100 | |
1 | Bank of America Corp. | 4.443% | 1/20/48 | 185 | 207 | |
1 | Bank of America Corp. | 3.946% | 1/23/49 | 105 | 110 | |
1 | Bank of America Corp. | 4.330% | 3/15/50 | 315 | 350 | |
1 | Bank of America Corp. | 4.083% | 3/20/51 | 245 | 263 | |
1 | Bank of America Corp. | 2.831% | 10/24/51 | 65 | 57 | |
1 | Bank of America Corp. | 3.483% | 3/13/52 | 205 | 200 | |
Bank of America Corp. | 2.972% | 7/21/52 | 315 | 280 | ||
1 | Bank of America NA | 6.000% | 10/15/36 | 195 | 248 | |
Bank of Montreal | 0.450% | 12/8/23 | 135 | 132 | ||
1 | Bank of Montreal | 3.300% | 2/5/24 | 75 | 77 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Bank of Montreal | 2.500% | 6/28/24 | 75 | 76 | |
1 | Bank of Montreal | 0.625% | 7/9/24 | 285 | 275 | |
1 | Bank of Montreal | 1.500% | 1/10/25 | 80 | 78 | |
1 | Bank of Montreal | 1.850% | 5/1/25 | 95 | 94 | |
1 | Bank of Montreal | 1.250% | 9/15/26 | 200 | 190 | |
1 | Bank of Montreal | 0.949% | 1/22/27 | 35 | 33 | |
1 | Bank of Montreal | 4.338% | 10/5/28 | 89 | 92 | |
1 | Bank of Montreal | 3.803% | 12/15/32 | 85 | 87 | |
Bank of Montreal | 3.088% | 1/10/37 | 105 | 100 | ||
1 | Bank of New York Mellon Corp. | 3.500% | 4/28/23 | 25 | 26 | |
1 | Bank of New York Mellon Corp. | 3.450% | 8/11/23 | 60 | 62 | |
1 | Bank of New York Mellon Corp. | 2.200% | 8/16/23 | 86 | 87 | |
1 | Bank of New York Mellon Corp. | 0.350% | 12/7/23 | 120 | 117 | |
1 | Bank of New York Mellon Corp. | 3.650% | 2/4/24 | 20 | 21 | |
1 | Bank of New York Mellon Corp. | 2.100% | 10/24/24 | 130 | 130 | |
1 | Bank of New York Mellon Corp. | 3.000% | 2/24/25 | 60 | 62 | |
1 | Bank of New York Mellon Corp. | 1.600% | 4/24/25 | 135 | 133 | |
1 | Bank of New York Mellon Corp. | 2.800% | 5/4/26 | 100 | 102 | |
1 | Bank of New York Mellon Corp. | 2.450% | 8/17/26 | 10 | 10 | |
Bank of New York Mellon Corp. | 2.050% | 1/26/27 | 60 | 59 | ||
1 | Bank of New York Mellon Corp. | 3.250% | 5/16/27 | 80 | 83 | |
1 | Bank of New York Mellon Corp. | 3.400% | 1/29/28 | 79 | 83 | |
1 | Bank of New York Mellon Corp. | 3.442% | 2/7/28 | 75 | 78 | |
1 | Bank of New York Mellon Corp. | 3.850% | 4/28/28 | 120 | 128 | |
1 | Bank of New York Mellon Corp. | 3.300% | 8/23/29 | 40 | 41 | |
Bank of Nova Scotia | 1.625% | 5/1/23 | 215 | 215 | ||
Bank of Nova Scotia | 0.400% | 9/15/23 | 60 | 59 | ||
Bank of Nova Scotia | 3.400% | 2/11/24 | 90 | 92 | ||
Bank of Nova Scotia | 0.700% | 4/15/24 | 10 | 10 | ||
Bank of Nova Scotia | 0.650% | 7/31/24 | 35 | 34 | ||
Bank of Nova Scotia | 2.200% | 2/3/25 | 220 | 219 | ||
Bank of Nova Scotia | 1.300% | 6/11/25 | 95 | 92 | ||
Bank of Nova Scotia | 4.500% | 12/16/25 | 160 | 170 | ||
Bank of Nova Scotia | 1.050% | 3/2/26 | 160 | 152 | ||
Bank of Nova Scotia | 1.350% | 6/24/26 | 65 | 62 | ||
Bank of Nova Scotia | 2.700% | 8/3/26 | 90 | 91 | ||
Bank of Nova Scotia | 1.300% | 9/15/26 | 60 | 57 | ||
Bank of Nova Scotia | 2.450% | 2/2/32 | 75 | 71 | ||
1 | Barclays plc | 4.338% | 5/16/24 | 200 | 206 | |
Barclays plc | 4.375% | 9/11/24 | 275 | 285 | ||
Barclays plc | 3.650% | 3/16/25 | 100 | 103 | ||
1 | Barclays plc | 3.932% | 5/7/25 | 180 | 185 | |
Barclays plc | 4.375% | 1/12/26 | 165 | 174 | ||
1 | Barclays plc | 2.852% | 5/7/26 | 50 | 50 | |
Barclays plc | 5.200% | 5/12/26 | 239 | 257 | ||
Barclays plc | 2.279% | 11/24/27 | 255 | 246 | ||
Barclays plc | 4.337% | 1/10/28 | 25 | 26 | ||
Barclays plc | 4.836% | 5/9/28 | 90 | 95 | ||
1 | Barclays plc | 4.972% | 5/16/29 | 195 | 212 | |
1 | Barclays plc | 5.088% | 6/20/30 | 100 | 107 | |
Barclays plc | 2.645% | 6/24/31 | 100 | 94 | ||
Barclays plc | 2.667% | 3/10/32 | 175 | 164 | ||
Barclays plc | 2.894% | 11/24/32 | 100 | 95 | ||
Barclays plc | 3.564% | 9/23/35 | 45 | 43 | ||
Barclays plc | 3.811% | 3/10/42 | 65 | 61 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Barclays plc | 3.330% | 11/24/42 | 90 | 82 | ||
Barclays plc | 5.250% | 8/17/45 | 190 | 223 | ||
Barclays plc | 4.950% | 1/10/47 | 65 | 73 | ||
BlackRock Inc. | 3.500% | 3/18/24 | 105 | 109 | ||
BlackRock Inc. | 3.250% | 4/30/29 | 50 | 52 | ||
BlackRock Inc. | 2.400% | 4/30/30 | 93 | 91 | ||
BlackRock Inc. | 1.900% | 1/28/31 | 90 | 84 | ||
BlackRock Inc. | 2.100% | 2/25/32 | 80 | 75 | ||
1 | BNP Paribas SA | 3.250% | 3/3/23 | 80 | 81 | |
BPCE SA | 4.000% | 4/15/24 | 115 | 119 | ||
Brighthouse Financial Inc. | 4.700% | 6/22/47 | 43 | 43 | ||
Canadian Imperial Bank of Commerce | 0.950% | 6/23/23 | 60 | 59 | ||
1 | Canadian Imperial Bank of Commerce | 3.500% | 9/13/23 | 140 | 144 | |
Canadian Imperial Bank of Commerce | 0.500% | 12/14/23 | 25 | 24 | ||
Canadian Imperial Bank of Commerce | 3.100% | 4/2/24 | 165 | 168 | ||
Canadian Imperial Bank of Commerce | 2.250% | 1/28/25 | 75 | 75 | ||
Canadian Imperial Bank of Commerce | 1.250% | 6/22/26 | 110 | 104 | ||
Capital One Financial Corp. | 2.600% | 5/11/23 | 50 | 50 | ||
Capital One Financial Corp. | 3.500% | 6/15/23 | 25 | 26 | ||
Capital One Financial Corp. | 3.900% | 1/29/24 | 365 | 376 | ||
Capital One Financial Corp. | 3.750% | 4/24/24 | 55 | 57 | ||
Capital One Financial Corp. | 3.300% | 10/30/24 | 185 | 189 | ||
Capital One Financial Corp. | 3.200% | 2/5/25 | 110 | 112 | ||
Capital One Financial Corp. | 4.250% | 4/30/25 | 10 | 11 | ||
Capital One Financial Corp. | 4.200% | 10/29/25 | 105 | 110 | ||
Capital One Financial Corp. | 3.750% | 7/28/26 | 160 | 166 | ||
Capital One Financial Corp. | 3.750% | 3/9/27 | 80 | 84 | ||
Capital One Financial Corp. | 3.650% | 5/11/27 | 105 | 109 | ||
Capital One Financial Corp. | 3.800% | 1/31/28 | 110 | 115 | ||
Capital One Financial Corp. | 2.359% | 7/29/32 | 110 | 99 | ||
Charles Schwab Corp. | 0.750% | 3/18/24 | 70 | 69 | ||
Charles Schwab Corp. | 3.850% | 5/21/25 | 45 | 47 | ||
Charles Schwab Corp. | 0.900% | 3/11/26 | 75 | 71 | ||
Charles Schwab Corp. | 1.150% | 5/13/26 | 175 | 168 | ||
Charles Schwab Corp. | 2.000% | 3/20/28 | 140 | 136 | ||
Charles Schwab Corp. | 1.650% | 3/11/31 | 125 | 114 | ||
Charles Schwab Corp. | 2.300% | 5/13/31 | 35 | 34 | ||
Charles Schwab Corp. | 1.950% | 12/1/31 | 100 | 92 | ||
Chubb Corp. | 6.000% | 5/11/37 | 95 | 126 | ||
Chubb INA Holdings Inc. | 3.150% | 3/15/25 | 75 | 78 | ||
Chubb INA Holdings Inc. | 3.350% | 5/3/26 | 170 | 177 | ||
Chubb INA Holdings Inc. | 1.375% | 9/15/30 | 80 | 72 | ||
Chubb INA Holdings Inc. | 4.350% | 11/3/45 | 95 | 108 | ||
Chubb INA Holdings Inc. | 3.050% | 12/15/61 | 90 | 80 | ||
CI Financial Corp. | 3.200% | 12/17/30 | 50 | 47 | ||
CI Financial Corp. | 4.100% | 6/15/51 | 120 | 114 | ||
1 | Citibank NA | 3.650% | 1/23/24 | 70 | 72 | |
Citigroup Inc. | 3.500% | 5/15/23 | 125 | 128 | ||
Citigroup Inc. | 3.875% | 10/25/23 | 175 | 181 | ||
1 | Citigroup Inc. | 1.678% | 5/15/24 | 220 | 220 | |
1 | Citigroup Inc. | 4.044% | 6/1/24 | 240 | 246 | |
Citigroup Inc. | 4.000% | 8/5/24 | 65 | 67 | ||
Citigroup Inc. | 0.776% | 10/30/24 | 90 | 88 | ||
Citigroup Inc. | 3.875% | 3/26/25 | 100 | 103 | ||
1 | Citigroup Inc. | 3.352% | 4/24/25 | 245 | 250 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Citigroup Inc. | 3.300% | 4/27/25 | 210 | 215 | ||
Citigroup Inc. | 0.981% | 5/1/25 | 160 | 156 | ||
Citigroup Inc. | 4.400% | 6/10/25 | 135 | 142 | ||
Citigroup Inc. | 5.500% | 9/13/25 | 175 | 191 | ||
Citigroup Inc. | 1.281% | 11/3/25 | 305 | 295 | ||
Citigroup Inc. | 3.700% | 1/12/26 | 250 | 261 | ||
Citigroup Inc. | 2.014% | 1/25/26 | 80 | 79 | ||
Citigroup Inc. | 4.600% | 3/9/26 | 75 | 80 | ||
1 | Citigroup Inc. | 3.106% | 4/8/26 | 225 | 228 | |
Citigroup Inc. | 3.400% | 5/1/26 | 175 | 180 | ||
Citigroup Inc. | 3.200% | 10/21/26 | 190 | 194 | ||
Citigroup Inc. | 4.300% | 11/20/26 | 75 | 80 | ||
Citigroup Inc. | 1.122% | 1/28/27 | 135 | 127 | ||
Citigroup Inc. | 1.462% | 6/9/27 | 110 | 104 | ||
Citigroup Inc. | 4.450% | 9/29/27 | 265 | 283 | ||
1 | Citigroup Inc. | 3.887% | 1/10/28 | 230 | 240 | |
1 | Citigroup Inc. | 3.668% | 7/24/28 | 210 | 217 | |
Citigroup Inc. | 4.125% | 7/25/28 | 160 | 168 | ||
1 | Citigroup Inc. | 3.520% | 10/27/28 | 340 | 349 | |
1 | Citigroup Inc. | 4.075% | 4/23/29 | 75 | 79 | |
1 | Citigroup Inc. | 3.980% | 3/20/30 | 210 | 221 | |
1 | Citigroup Inc. | 2.976% | 11/5/30 | 225 | 222 | |
1 | Citigroup Inc. | 2.666% | 1/29/31 | 290 | 280 | |
1 | Citigroup Inc. | 4.412% | 3/31/31 | 215 | 233 | |
1 | Citigroup Inc. | 2.572% | 6/3/31 | 175 | 167 | |
Citigroup Inc. | 2.561% | 5/1/32 | 145 | 138 | ||
Citigroup Inc. | 6.625% | 6/15/32 | 65 | 81 | ||
Citigroup Inc. | 2.520% | 11/3/32 | 225 | 212 | ||
Citigroup Inc. | 3.057% | 1/25/33 | 170 | 168 | ||
1 | Citigroup Inc. | 3.878% | 1/24/39 | 51 | 53 | |
Citigroup Inc. | 8.125% | 7/15/39 | 137 | 215 | ||
1 | Citigroup Inc. | 5.316% | 3/26/41 | 205 | 248 | |
Citigroup Inc. | 5.875% | 1/30/42 | 150 | 193 | ||
Citigroup Inc. | 2.904% | 11/3/42 | 50 | 45 | ||
Citigroup Inc. | 6.675% | 9/13/43 | 85 | 118 | ||
Citigroup Inc. | 5.300% | 5/6/44 | 110 | 129 | ||
Citigroup Inc. | 4.650% | 7/30/45 | 145 | 164 | ||
Citigroup Inc. | 4.750% | 5/18/46 | 210 | 234 | ||
1 | Citigroup Inc. | 4.281% | 4/24/48 | 25 | 28 | |
Citigroup Inc. | 4.650% | 7/23/48 | 215 | 251 | ||
Citizens Financial Group Inc. | 3.250% | 4/30/30 | 70 | 71 | ||
CME Group Inc. | 3.000% | 3/15/25 | 180 | 185 | ||
CME Group Inc. | 5.300% | 9/15/43 | 53 | 68 | ||
Comerica Inc. | 3.700% | 7/31/23 | 95 | 97 | ||
Cooperatieve Rabobank UA | 0.375% | 1/12/24 | 125 | 122 | ||
1 | Cooperatieve Rabobank UA | 3.375% | 5/21/25 | 120 | 124 | |
Cooperatieve Rabobank UA | 4.375% | 8/4/25 | 35 | 37 | ||
1 | Cooperatieve Rabobank UA | 3.750% | 7/21/26 | 170 | 176 | |
1 | Cooperatieve Rabobank UA | 5.250% | 5/24/41 | 105 | 136 | |
Cooperatieve Rabobank UA | 5.750% | 12/1/43 | 175 | 222 | ||
Cooperatieve Rabobank UA | 5.250% | 8/4/45 | 45 | 54 | ||
Credit Suisse AG | 1.000% | 5/5/23 | 320 | 318 | ||
1 | Credit Suisse AG | 0.520% | 8/9/23 | 60 | 59 | |
Credit Suisse AG | 0.495% | 2/2/24 | 120 | 116 | ||
1 | Credit Suisse AG | 3.625% | 9/9/24 | 335 | 346 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Credit Suisse AG | 2.950% | 4/9/25 | 105 | 106 | ||
Credit Suisse AG | 1.250% | 8/7/26 | 120 | 113 | ||
Credit Suisse Group AG | 3.800% | 6/9/23 | 75 | 77 | ||
Credit Suisse Group AG | 3.750% | 3/26/25 | 135 | 139 | ||
Credit Suisse Group AG | 4.550% | 4/17/26 | 195 | 206 | ||
Credit Suisse Group AG | 4.875% | 5/15/45 | 160 | 176 | ||
1 | Deutsche Bank AG | 0.962% | 11/8/23 | 60 | 59 | |
1 | Deutsche Bank AG | 3.700% | 5/30/24 | 100 | 102 | |
Deutsche Bank AG | 3.700% | 5/30/24 | 95 | 98 | ||
1 | Deutsche Bank AG | 2.222% | 9/18/24 | 115 | 115 | |
Deutsche Bank AG | 1.447% | 4/1/25 | 100 | 98 | ||
1 | Deutsche Bank AG | 3.961% | 11/26/25 | 40 | 41 | |
Deutsche Bank AG | 1.686% | 3/19/26 | 80 | 77 | ||
Deutsche Bank AG | 2.129% | 11/24/26 | 195 | 188 | ||
Deutsche Bank AG | 2.311% | 11/16/27 | 216 | 207 | ||
Deutsche Bank AG | 2.552% | 1/7/28 | 195 | 188 | ||
1 | Deutsche Bank AG | 3.547% | 9/18/31 | 185 | 183 | |
Deutsche Bank AG | 3.035% | 5/28/32 | 45 | 42 | ||
Discover Bank | 2.450% | 9/12/24 | 165 | 165 | ||
1 | Discover Bank | 3.450% | 7/27/26 | 150 | 154 | |
1 | Discover Bank | 4.650% | 9/13/28 | 35 | 38 | |
Discover Financial Services | 4.100% | 2/9/27 | 50 | 52 | ||
Equitable Holdings Inc. | 4.350% | 4/20/28 | 182 | 195 | ||
Equitable Holdings Inc. | 5.000% | 4/20/48 | 146 | 163 | ||
Everest Reinsurance Holdings Inc. | 3.500% | 10/15/50 | 80 | 75 | ||
Everest Reinsurance Holdings Inc. | 3.125% | 10/15/52 | 85 | 74 | ||
Fifth Third Bancorp | 3.650% | 1/25/24 | 90 | 93 | ||
Fifth Third Bancorp | 2.375% | 1/28/25 | 140 | 140 | ||
Fifth Third Bancorp | 2.550% | 5/5/27 | 50 | 50 | ||
Fifth Third Bancorp | 8.250% | 3/1/38 | 65 | 99 | ||
1 | Fifth Third Bank NA | 3.950% | 7/28/25 | 135 | 143 | |
1 | Fifth Third Bank NA | 3.850% | 3/15/26 | 135 | 141 | |
Franklin Resources Inc. | 1.600% | 10/30/30 | 60 | 54 | ||
Global Payments Inc. | 2.650% | 2/15/25 | 2 | 2 | ||
Global Payments Inc. | 4.800% | 4/1/26 | 115 | 123 | ||
Global Payments Inc. | 3.200% | 8/15/29 | 125 | 124 | ||
Global Payments Inc. | 2.900% | 5/15/30 | 65 | 63 | ||
Global Payments Inc. | 2.900% | 11/15/31 | 40 | 38 | ||
Global Payments Inc. | 4.150% | 8/15/49 | 85 | 84 | ||
Goldman Sachs Capital I | 6.345% | 2/15/34 | 65 | 81 | ||
Goldman Sachs Group Inc. | 1.217% | 12/6/23 | 100 | 99 | ||
Goldman Sachs Group Inc. | 3.625% | 2/20/24 | 260 | 267 | ||
Goldman Sachs Group Inc. | 4.000% | 3/3/24 | 410 | 425 | ||
Goldman Sachs Group Inc. | 0.673% | 3/8/24 | 230 | 227 | ||
1 | Goldman Sachs Group Inc. | 3.850% | 7/8/24 | 210 | 217 | |
1 | Goldman Sachs Group Inc. | 0.657% | 9/10/24 | 160 | 156 | |
Goldman Sachs Group Inc. | 0.925% | 10/21/24 | 160 | 157 | ||
Goldman Sachs Group Inc. | 3.500% | 1/23/25 | 153 | 157 | ||
Goldman Sachs Group Inc. | 1.757% | 1/24/25 | 100 | 99 | ||
Goldman Sachs Group Inc. | 3.500% | 4/1/25 | 214 | 220 | ||
Goldman Sachs Group Inc. | 3.750% | 5/22/25 | 170 | 176 | ||
1 | Goldman Sachs Group Inc. | 3.272% | 9/29/25 | 155 | 158 | |
Goldman Sachs Group Inc. | 4.250% | 10/21/25 | 75 | 79 | ||
Goldman Sachs Group Inc. | 0.855% | 2/12/26 | 150 | 143 | ||
Goldman Sachs Group Inc. | 3.750% | 2/25/26 | 150 | 156 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Goldman Sachs Group Inc. | 3.500% | 11/16/26 | 277 | 284 | ||
1 | Goldman Sachs Group Inc. | 1.093% | 12/9/26 | 250 | 235 | |
Goldman Sachs Group Inc. | 5.950% | 1/15/27 | 50 | 56 | ||
Goldman Sachs Group Inc. | 3.850% | 1/26/27 | 215 | 224 | ||
Goldman Sachs Group Inc. | 1.431% | 3/9/27 | 265 | 251 | ||
Goldman Sachs Group Inc. | 1.542% | 9/10/27 | 260 | 245 | ||
Goldman Sachs Group Inc. | 1.948% | 10/21/27 | 250 | 240 | ||
Goldman Sachs Group Inc. | 2.640% | 2/24/28 | 365 | 361 | ||
1 | Goldman Sachs Group Inc. | 3.691% | 6/5/28 | 240 | 249 | |
1 | Goldman Sachs Group Inc. | 3.814% | 4/23/29 | 330 | 343 | |
1 | Goldman Sachs Group Inc. | 4.223% | 5/1/29 | 208 | 220 | |
Goldman Sachs Group Inc. | 2.600% | 2/7/30 | 170 | 163 | ||
Goldman Sachs Group Inc. | 3.800% | 3/15/30 | 170 | 177 | ||
Goldman Sachs Group Inc. | 1.992% | 1/27/32 | 210 | 189 | ||
Goldman Sachs Group Inc. | 2.615% | 4/22/32 | 110 | 104 | ||
Goldman Sachs Group Inc. | 2.383% | 7/21/32 | 435 | 403 | ||
Goldman Sachs Group Inc. | 2.650% | 10/21/32 | 370 | 351 | ||
Goldman Sachs Group Inc. | 6.125% | 2/15/33 | 135 | 167 | ||
Goldman Sachs Group Inc. | 3.102% | 2/24/33 | 315 | 310 | ||
Goldman Sachs Group Inc. | 6.750% | 10/1/37 | 405 | 532 | ||
1 | Goldman Sachs Group Inc. | 4.017% | 10/31/38 | 220 | 232 | |
1 | Goldman Sachs Group Inc. | 4.411% | 4/23/39 | 125 | 135 | |
Goldman Sachs Group Inc. | 6.250% | 2/1/41 | 345 | 453 | ||
Goldman Sachs Group Inc. | 3.210% | 4/22/42 | 170 | 158 | ||
Goldman Sachs Group Inc. | 2.908% | 7/21/42 | 50 | 45 | ||
Goldman Sachs Group Inc. | 3.436% | 2/24/43 | 50 | 48 | ||
1 | Goldman Sachs Group Inc. | 4.800% | 7/8/44 | 255 | 292 | |
Goldman Sachs Group Inc. | 5.150% | 5/22/45 | 145 | 170 | ||
Goldman Sachs Group Inc. | 4.750% | 10/21/45 | 170 | 194 | ||
Hartford Financial Services Group Inc. | 3.600% | 8/19/49 | 70 | 68 | ||
HSBC Holdings plc | 3.600% | 5/25/23 | 215 | 220 | ||
HSBC Holdings plc | 4.250% | 3/14/24 | 55 | 57 | ||
1 | HSBC Holdings plc | 3.950% | 5/18/24 | 260 | 266 | |
HSBC Holdings plc | 0.732% | 8/17/24 | 195 | 191 | ||
HSBC Holdings plc | 1.162% | 11/22/24 | 260 | 255 | ||
1 | HSBC Holdings plc | 3.803% | 3/11/25 | 225 | 231 | |
HSBC Holdings plc | 0.976% | 5/24/25 | 185 | 179 | ||
HSBC Holdings plc | 4.250% | 8/18/25 | 50 | 52 | ||
1 | HSBC Holdings plc | 2.633% | 11/7/25 | 160 | 160 | |
HSBC Holdings plc | 4.300% | 3/8/26 | 160 | 169 | ||
1 | HSBC Holdings plc | 1.645% | 4/18/26 | 125 | 121 | |
HSBC Holdings plc | 3.900% | 5/25/26 | 175 | 182 | ||
1 | HSBC Holdings plc | 2.099% | 6/4/26 | 130 | 127 | |
1 | HSBC Holdings plc | 4.292% | 9/12/26 | 250 | 261 | |
HSBC Holdings plc | 4.375% | 11/23/26 | 65 | 68 | ||
HSBC Holdings plc | 1.589% | 5/24/27 | 155 | 146 | ||
HSBC Holdings plc | 2.251% | 11/22/27 | 330 | 318 | ||
1 | HSBC Holdings plc | 4.041% | 3/13/28 | 195 | 202 | |
1 | HSBC Holdings plc | 2.013% | 9/22/28 | 125 | 117 | |
1 | HSBC Holdings plc | 4.583% | 6/19/29 | 275 | 294 | |
HSBC Holdings plc | 2.206% | 8/17/29 | 140 | 131 | ||
HSBC Holdings plc | 4.950% | 3/31/30 | 195 | 216 | ||
1 | HSBC Holdings plc | 3.973% | 5/22/30 | 285 | 294 | |
1 | HSBC Holdings plc | 2.848% | 6/4/31 | 85 | 81 | |
1 | HSBC Holdings plc | 2.357% | 8/18/31 | 50 | 46 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
HSBC Holdings plc | 2.804% | 5/24/32 | 210 | 198 | ||
HSBC Holdings plc | 2.871% | 11/22/32 | 330 | 313 | ||
HSBC Holdings plc | 6.500% | 5/2/36 | 120 | 151 | ||
HSBC Holdings plc | 6.500% | 9/15/37 | 130 | 166 | ||
HSBC Holdings plc | 6.800% | 6/1/38 | 195 | 255 | ||
HSBC Holdings plc | 6.100% | 1/14/42 | 190 | 251 | ||
HSBC Holdings plc | 5.250% | 3/14/44 | 137 | 157 | ||
HSBC USA Inc. | 3.500% | 6/23/24 | 140 | 144 | ||
Huntington Bancshares Inc. | 2.625% | 8/6/24 | 50 | 50 | ||
Huntington Bancshares Inc. | 2.550% | 2/4/30 | 15 | 15 | ||
1 | Huntington National Bank | 3.550% | 10/6/23 | 110 | 113 | |
ING Groep NV | 4.100% | 10/2/23 | 135 | 139 | ||
ING Groep NV | 3.550% | 4/9/24 | 170 | 174 | ||
ING Groep NV | 3.950% | 3/29/27 | 150 | 158 | ||
ING Groep NV | 1.726% | 4/1/27 | 100 | 96 | ||
ING Groep NV | 4.550% | 10/2/28 | 70 | 76 | ||
ING Groep NV | 4.050% | 4/9/29 | 35 | 37 | ||
ING Groep NV | 2.727% | 4/1/32 | 70 | 67 | ||
Intercontinental Exchange Inc. | 0.700% | 6/15/23 | 25 | 25 | ||
Intercontinental Exchange Inc. | 4.000% | 10/15/23 | 60 | 62 | ||
Intercontinental Exchange Inc. | 3.750% | 12/1/25 | 70 | 73 | ||
Intercontinental Exchange Inc. | 2.100% | 6/15/30 | 45 | 42 | ||
Intercontinental Exchange Inc. | 1.850% | 9/15/32 | 285 | 255 | ||
Intercontinental Exchange Inc. | 2.650% | 9/15/40 | 100 | 89 | ||
Intercontinental Exchange Inc. | 4.250% | 9/21/48 | 130 | 144 | ||
Intercontinental Exchange Inc. | 3.000% | 6/15/50 | 105 | 94 | ||
Intercontinental Exchange Inc. | 3.000% | 9/15/60 | 80 | 69 | ||
JPMorgan Chase & Co. | 3.375% | 5/1/23 | 260 | 265 | ||
JPMorgan Chase & Co. | 2.700% | 5/18/23 | 174 | 176 | ||
JPMorgan Chase & Co. | 3.875% | 2/1/24 | 215 | 223 | ||
JPMorgan Chase & Co. | 0.697% | 3/16/24 | 190 | 188 | ||
1 | JPMorgan Chase & Co. | 3.559% | 4/23/24 | 160 | 163 | |
1 | JPMorgan Chase & Co. | 1.514% | 6/1/24 | 200 | 199 | |
1 | JPMorgan Chase & Co. | 3.797% | 7/23/24 | 390 | 399 | |
JPMorgan Chase & Co. | 3.875% | 9/10/24 | 170 | 176 | ||
1 | JPMorgan Chase & Co. | 0.653% | 9/16/24 | 50 | 49 | |
1 | JPMorgan Chase & Co. | 4.023% | 12/5/24 | 385 | 397 | |
JPMorgan Chase & Co. | 3.125% | 1/23/25 | 185 | 189 | ||
JPMorgan Chase & Co. | 0.563% | 2/16/25 | 200 | 194 | ||
1 | JPMorgan Chase & Co. | 3.220% | 3/1/25 | 315 | 321 | |
JPMorgan Chase & Co. | 0.969% | 6/23/25 | 285 | 276 | ||
JPMorgan Chase & Co. | 3.900% | 7/15/25 | 375 | 392 | ||
JPMorgan Chase & Co. | 0.768% | 8/9/25 | 140 | 135 | ||
1 | JPMorgan Chase & Co. | 2.301% | 10/15/25 | 75 | 75 | |
JPMorgan Chase & Co. | 1.561% | 12/10/25 | 125 | 122 | ||
1 | JPMorgan Chase & Co. | 2.005% | 3/13/26 | 130 | 128 | |
JPMorgan Chase & Co. | 3.300% | 4/1/26 | 400 | 413 | ||
1 | JPMorgan Chase & Co. | 2.083% | 4/22/26 | 310 | 305 | |
JPMorgan Chase & Co. | 3.200% | 6/15/26 | 100 | 103 | ||
JPMorgan Chase & Co. | 2.950% | 10/1/26 | 300 | 305 | ||
JPMorgan Chase & Co. | 1.045% | 11/19/26 | 305 | 287 | ||
JPMorgan Chase & Co. | 4.125% | 12/15/26 | 100 | 106 | ||
1 | JPMorgan Chase & Co. | 3.960% | 1/29/27 | 95 | 99 | |
JPMorgan Chase & Co. | 1.040% | 2/4/27 | 180 | 169 | ||
JPMorgan Chase & Co. | 1.578% | 4/22/27 | 170 | 163 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
JPMorgan Chase & Co. | 1.470% | 9/22/27 | 200 | 189 | ||
JPMorgan Chase & Co. | 4.250% | 10/1/27 | 120 | 128 | ||
JPMorgan Chase & Co. | 3.625% | 12/1/27 | 60 | 62 | ||
1 | JPMorgan Chase & Co. | 3.782% | 2/1/28 | 140 | 146 | |
1 | JPMorgan Chase & Co. | 3.540% | 5/1/28 | 190 | 196 | |
1 | JPMorgan Chase & Co. | 2.182% | 6/1/28 | 150 | 145 | |
1 | JPMorgan Chase & Co. | 3.509% | 1/23/29 | 275 | 282 | |
1 | JPMorgan Chase & Co. | 4.005% | 4/23/29 | 155 | 163 | |
JPMorgan Chase & Co. | 2.069% | 6/1/29 | 120 | 114 | ||
1 | JPMorgan Chase & Co. | 4.203% | 7/23/29 | 240 | 256 | |
1 | JPMorgan Chase & Co. | 4.452% | 12/5/29 | 130 | 140 | |
1 | JPMorgan Chase & Co. | 3.702% | 5/6/30 | 215 | 223 | |
1 | JPMorgan Chase & Co. | 2.739% | 10/15/30 | 115 | 112 | |
1 | JPMorgan Chase & Co. | 4.493% | 3/24/31 | 295 | 324 | |
1 | JPMorgan Chase & Co. | 2.522% | 4/22/31 | 270 | 259 | |
1 | JPMorgan Chase & Co. | 2.956% | 5/13/31 | 250 | 243 | |
JPMorgan Chase & Co. | 1.764% | 11/19/31 | 185 | 166 | ||
JPMorgan Chase & Co. | 1.953% | 2/4/32 | 340 | 310 | ||
JPMorgan Chase & Co. | 2.580% | 4/22/32 | 255 | 244 | ||
JPMorgan Chase & Co. | 2.545% | 11/8/32 | 75 | 72 | ||
JPMorgan Chase & Co. | 2.963% | 1/25/33 | 250 | 247 | ||
JPMorgan Chase & Co. | 6.400% | 5/15/38 | 227 | 305 | ||
1 | JPMorgan Chase & Co. | 3.882% | 7/24/38 | 155 | 164 | |
JPMorgan Chase & Co. | 5.500% | 10/15/40 | 215 | 267 | ||
1 | JPMorgan Chase & Co. | 3.109% | 4/22/41 | 180 | 170 | |
JPMorgan Chase & Co. | 5.600% | 7/15/41 | 210 | 265 | ||
JPMorgan Chase & Co. | 2.525% | 11/19/41 | 120 | 104 | ||
JPMorgan Chase & Co. | 5.400% | 1/6/42 | 175 | 217 | ||
JPMorgan Chase & Co. | 3.157% | 4/22/42 | 110 | 104 | ||
JPMorgan Chase & Co. | 5.625% | 8/16/43 | 125 | 157 | ||
JPMorgan Chase & Co. | 4.850% | 2/1/44 | 170 | 202 | ||
JPMorgan Chase & Co. | 4.950% | 6/1/45 | 130 | 153 | ||
1 | JPMorgan Chase & Co. | 4.260% | 2/22/48 | 135 | 148 | |
1 | JPMorgan Chase & Co. | 4.032% | 7/24/48 | 170 | 181 | |
1 | JPMorgan Chase & Co. | 3.964% | 11/15/48 | 260 | 276 | |
1 | JPMorgan Chase & Co. | 3.897% | 1/23/49 | 255 | 266 | |
1 | JPMorgan Chase & Co. | 3.109% | 4/22/51 | 122 | 113 | |
JPMorgan Chase & Co. | 3.328% | 4/22/52 | 265 | 255 | ||
1 | KeyBank NA | 0.433% | 6/14/24 | 50 | 49 | |
1 | KeyBank NA | 3.300% | 6/1/25 | 140 | 145 | |
1 | KeyCorp | 2.250% | 4/6/27 | 65 | 64 | |
1 | KeyCorp | 4.100% | 4/30/28 | 25 | 27 | |
1 | KeyCorp | 2.550% | 10/1/29 | 25 | 24 | |
Lloyds Banking Group plc | 4.050% | 8/16/23 | 180 | 185 | ||
Lloyds Banking Group plc | 3.900% | 3/12/24 | 75 | 78 | ||
Lloyds Banking Group plc | 0.695% | 5/11/24 | 50 | 49 | ||
Lloyds Banking Group plc | 4.500% | 11/4/24 | 25 | 26 | ||
Lloyds Banking Group plc | 4.450% | 5/8/25 | 160 | 168 | ||
1 | Lloyds Banking Group plc | 3.870% | 7/9/25 | 75 | 77 | |
Lloyds Banking Group plc | 4.582% | 12/10/25 | 100 | 105 | ||
1 | Lloyds Banking Group plc | 2.438% | 2/5/26 | 200 | 199 | |
Lloyds Banking Group plc | 4.650% | 3/24/26 | 150 | 159 | ||
Lloyds Banking Group plc | 3.750% | 1/11/27 | 100 | 104 | ||
Lloyds Banking Group plc | 1.627% | 5/11/27 | 200 | 190 | ||
Lloyds Banking Group plc | 4.375% | 3/22/28 | 145 | 155 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Lloyds Banking Group plc | 4.550% | 8/16/28 | 225 | 243 | ||
1 | Lloyds Banking Group plc | 3.574% | 11/7/28 | 55 | 56 | |
Lloyds Banking Group plc | 5.300% | 12/1/45 | 60 | 69 | ||
Lloyds Banking Group plc | 4.344% | 1/9/48 | 75 | 77 | ||
1 | Manufacturers & Traders Trust Co. | 2.900% | 2/6/25 | 170 | 174 | |
Marsh & McLennan Cos. Inc. | 3.875% | 3/15/24 | 95 | 98 | ||
Marsh & McLennan Cos. Inc. | 4.375% | 3/15/29 | 125 | 136 | ||
Marsh & McLennan Cos. Inc. | 2.250% | 11/15/30 | 145 | 136 | ||
Marsh & McLennan Cos. Inc. | 4.900% | 3/15/49 | 65 | 78 | ||
Mastercard Inc. | 3.375% | 4/1/24 | 70 | 72 | ||
Mastercard Inc. | 2.950% | 11/21/26 | 60 | 62 | ||
Mastercard Inc. | 3.300% | 3/26/27 | 85 | 89 | ||
Mastercard Inc. | 2.950% | 6/1/29 | 21 | 22 | ||
Mastercard Inc. | 3.350% | 3/26/30 | 145 | 152 | ||
Mastercard Inc. | 2.000% | 11/18/31 | 90 | 85 | ||
Mastercard Inc. | 3.650% | 6/1/49 | 195 | 206 | ||
Mastercard Inc. | 3.850% | 3/26/50 | 115 | 125 | ||
1 | MetLife Inc. | 4.368% | 9/15/23 | 100 | 104 | |
MetLife Inc. | 3.600% | 4/10/24 | 10 | 10 | ||
MetLife Inc. | 4.550% | 3/23/30 | 155 | 174 | ||
MetLife Inc. | 5.700% | 6/15/35 | 90 | 113 | ||
1 | MetLife Inc. | 6.400% | 12/15/36 | 70 | 79 | |
MetLife Inc. | 5.875% | 2/6/41 | 95 | 124 | ||
MetLife Inc. | 4.125% | 8/13/42 | 45 | 48 | ||
MetLife Inc. | 4.875% | 11/13/43 | 105 | 125 | ||
MetLife Inc. | 4.050% | 3/1/45 | 105 | 114 | ||
MetLife Inc. | 4.600% | 5/13/46 | 85 | 100 | ||
Mitsubishi UFJ Financial Group Inc. | 3.455% | 3/2/23 | 220 | 224 | ||
Mitsubishi UFJ Financial Group Inc. | 3.761% | 7/26/23 | 155 | 159 | ||
Mitsubishi UFJ Financial Group Inc. | 3.407% | 3/7/24 | 75 | 77 | ||
Mitsubishi UFJ Financial Group Inc. | 2.801% | 7/18/24 | 100 | 101 | ||
1 | Mitsubishi UFJ Financial Group Inc. | 0.848% | 9/15/24 | 100 | 98 | |
Mitsubishi UFJ Financial Group Inc. | 2.193% | 2/25/25 | 225 | 223 | ||
Mitsubishi UFJ Financial Group Inc. | 3.777% | 3/2/25 | 18 | 19 | ||
Mitsubishi UFJ Financial Group Inc. | 1.412% | 7/17/25 | 175 | 169 | ||
Mitsubishi UFJ Financial Group Inc. | 0.953% | 7/19/25 | 265 | 256 | ||
Mitsubishi UFJ Financial Group Inc. | 0.962% | 10/11/25 | 100 | 96 | ||
Mitsubishi UFJ Financial Group Inc. | 3.850% | 3/1/26 | 160 | 167 | ||
Mitsubishi UFJ Financial Group Inc. | 2.757% | 9/13/26 | 25 | 25 | ||
Mitsubishi UFJ Financial Group Inc. | 1.538% | 7/20/27 | 310 | 294 | ||
Mitsubishi UFJ Financial Group Inc. | 3.287% | 7/25/27 | 50 | 51 | ||
Mitsubishi UFJ Financial Group Inc. | 1.640% | 10/13/27 | 50 | 47 | ||
Mitsubishi UFJ Financial Group Inc. | 2.341% | 1/19/28 | 200 | 195 | ||
Mitsubishi UFJ Financial Group Inc. | 3.961% | 3/2/28 | 45 | 48 | ||
Mitsubishi UFJ Financial Group Inc. | 4.050% | 9/11/28 | 145 | 154 | ||
Mitsubishi UFJ Financial Group Inc. | 3.741% | 3/7/29 | 185 | 193 | ||
Mitsubishi UFJ Financial Group Inc. | 3.195% | 7/18/29 | 50 | 50 | ||
Mitsubishi UFJ Financial Group Inc. | 2.559% | 2/25/30 | 235 | 226 | ||
Mitsubishi UFJ Financial Group Inc. | 2.048% | 7/17/30 | 150 | 138 | ||
Mitsubishi UFJ Financial Group Inc. | 2.309% | 7/20/32 | 100 | 93 | ||
Mitsubishi UFJ Financial Group Inc. | 2.494% | 10/13/32 | 95 | 89 | ||
Mitsubishi UFJ Financial Group Inc. | 2.852% | 1/19/33 | 100 | 97 | ||
Mitsubishi UFJ Financial Group Inc. | 3.751% | 7/18/39 | 115 | 120 | ||
Mizuho Financial Group Inc. | 3.549% | 3/5/23 | 100 | 102 | ||
1 | Mizuho Financial Group Inc. | 1.241% | 7/10/24 | 185 | 183 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Mizuho Financial Group Inc. | 2.226% | 5/25/26 | 105 | 104 | |
Mizuho Financial Group Inc. | 1.234% | 5/22/27 | 170 | 159 | ||
Mizuho Financial Group Inc. | 1.554% | 7/9/27 | 50 | 47 | ||
Mizuho Financial Group Inc. | 3.170% | 9/11/27 | 50 | 51 | ||
Mizuho Financial Group Inc. | 4.018% | 3/5/28 | 75 | 79 | ||
1 | Mizuho Financial Group Inc. | 4.254% | 9/11/29 | 130 | 139 | |
1 | Mizuho Financial Group Inc. | 3.153% | 7/16/30 | 100 | 100 | |
1 | Mizuho Financial Group Inc. | 2.201% | 7/10/31 | 165 | 153 | |
1 | Mizuho Financial Group Inc. | 1.979% | 9/8/31 | 25 | 23 | |
Mizuho Financial Group Inc. | 2.564% | 9/13/31 | 50 | 46 | ||
1 | Morgan Stanley | 4.100% | 5/22/23 | 100 | 103 | |
Morgan Stanley | 0.731% | 4/5/24 | 80 | 79 | ||
1 | Morgan Stanley | 3.737% | 4/24/24 | 425 | 433 | |
1 | Morgan Stanley | 3.875% | 4/29/24 | 160 | 165 | |
1 | Morgan Stanley | 3.700% | 10/23/24 | 180 | 186 | |
1 | Morgan Stanley | 0.791% | 1/22/25 | 30 | 29 | |
Morgan Stanley | 0.790% | 5/30/25 | 325 | 313 | ||
1 | Morgan Stanley | 2.720% | 7/22/25 | 250 | 251 | |
1 | Morgan Stanley | 4.000% | 7/23/25 | 160 | 168 | |
1 | Morgan Stanley | 0.864% | 10/21/25 | 50 | 48 | |
1 | Morgan Stanley | 1.164% | 10/21/25 | 235 | 227 | |
Morgan Stanley | 5.000% | 11/24/25 | 160 | 172 | ||
1 | Morgan Stanley | 3.875% | 1/27/26 | 260 | 272 | |
1 | Morgan Stanley | 2.188% | 4/28/26 | 250 | 247 | |
1 | Morgan Stanley | 3.125% | 7/27/26 | 470 | 479 | |
1 | Morgan Stanley | 4.350% | 9/8/26 | 285 | 303 | |
Morgan Stanley | 0.985% | 12/10/26 | 315 | 295 | ||
Morgan Stanley | 3.625% | 1/20/27 | 346 | 361 | ||
Morgan Stanley | 3.950% | 4/23/27 | 200 | 210 | ||
Morgan Stanley | 1.593% | 5/4/27 | 120 | 114 | ||
Morgan Stanley | 2.475% | 1/21/28 | 100 | 98 | ||
1 | Morgan Stanley | 3.591% | 7/22/28 | 375 | 387 | |
1 | Morgan Stanley | 3.772% | 1/24/29 | 425 | 441 | |
1 | Morgan Stanley | 4.431% | 1/23/30 | 300 | 324 | |
1 | Morgan Stanley | 2.699% | 1/22/31 | 265 | 257 | |
1 | Morgan Stanley | 3.622% | 4/1/31 | 255 | 263 | |
1 | Morgan Stanley | 1.794% | 2/13/32 | 35 | 31 | |
Morgan Stanley | 7.250% | 4/1/32 | 125 | 167 | ||
1 | Morgan Stanley | 1.928% | 4/28/32 | 85 | 77 | |
1 | Morgan Stanley | 2.239% | 7/21/32 | 170 | 157 | |
1 | Morgan Stanley | 2.511% | 10/20/32 | 265 | 250 | |
Morgan Stanley | 2.943% | 1/21/33 | 195 | 191 | ||
Morgan Stanley | 2.484% | 9/16/36 | 280 | 254 | ||
1 | Morgan Stanley | 3.971% | 7/22/38 | 235 | 247 | |
1 | Morgan Stanley | 4.457% | 4/22/39 | 95 | 104 | |
Morgan Stanley | 3.217% | 4/22/42 | 130 | 124 | ||
Morgan Stanley | 6.375% | 7/24/42 | 180 | 246 | ||
Morgan Stanley | 4.300% | 1/27/45 | 290 | 316 | ||
Morgan Stanley | 4.375% | 1/22/47 | 175 | 194 | ||
1 | Morgan Stanley | 5.597% | 3/24/51 | 165 | 220 | |
1 | Morgan Stanley | 2.802% | 1/25/52 | 180 | 157 | |
National Australia Bank Ltd. | 3.625% | 6/20/23 | 110 | 113 | ||
National Australia Bank Ltd. | 3.375% | 1/14/26 | 75 | 79 | ||
1 | National Australia Bank Ltd. | 2.500% | 7/12/26 | 93 | 94 | |
1 | National Bank of Canada | 0.550% | 11/15/24 | 50 | 49 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
NatWest Group plc | 3.875% | 9/12/23 | 125 | 128 | ||
NatWest Group plc | 6.000% | 12/19/23 | 54 | 57 | ||
NatWest Group plc | 5.125% | 5/28/24 | 55 | 58 | ||
1 | NatWest Group plc | 4.519% | 6/25/24 | 100 | 103 | |
1 | NatWest Group plc | 4.269% | 3/22/25 | 135 | 140 | |
NatWest Group plc | 4.800% | 4/5/26 | 170 | 182 | ||
1 | NatWest Group plc | 3.073% | 5/22/28 | 130 | 130 | |
1 | NatWest Group plc | 4.892% | 5/18/29 | 160 | 174 | |
1 | NatWest Group plc | 3.754% | 11/1/29 | 175 | 177 | |
1 | NatWest Group plc | 5.076% | 1/27/30 | 265 | 292 | |
1 | NatWest Group plc | 4.445% | 5/8/30 | 25 | 27 | |
1 | NatWest Group plc | 3.032% | 11/28/35 | 50 | 46 | |
Nomura Holdings Inc. | 2.648% | 1/16/25 | 115 | 115 | ||
Nomura Holdings Inc. | 1.851% | 7/16/25 | 175 | 170 | ||
Nomura Holdings Inc. | 1.653% | 7/14/26 | 110 | 104 | ||
Nomura Holdings Inc. | 2.329% | 1/22/27 | 200 | 193 | ||
Nomura Holdings Inc. | 2.172% | 7/14/28 | 50 | 47 | ||
Nomura Holdings Inc. | 3.103% | 1/16/30 | 115 | 113 | ||
Nomura Holdings Inc. | 2.679% | 7/16/30 | 115 | 109 | ||
Nomura Holdings Inc. | 2.608% | 7/14/31 | 110 | 103 | ||
Northern Trust Corp. | 3.950% | 10/30/25 | 75 | 80 | ||
Northern Trust Corp. | 1.950% | 5/1/30 | 85 | 81 | ||
PayPal Holdings Inc. | 1.350% | 6/1/23 | 70 | 70 | ||
PayPal Holdings Inc. | 2.400% | 10/1/24 | 70 | 71 | ||
PayPal Holdings Inc. | 1.650% | 6/1/25 | 25 | 25 | ||
PayPal Holdings Inc. | 2.650% | 10/1/26 | 165 | 167 | ||
PayPal Holdings Inc. | 2.850% | 10/1/29 | 70 | 70 | ||
PayPal Holdings Inc. | 2.300% | 6/1/30 | 75 | 72 | ||
PayPal Holdings Inc. | 3.250% | 6/1/50 | 80 | 75 | ||
1 | PNC Bank NA | 3.500% | 6/8/23 | 45 | 46 | |
1 | PNC Bank NA | 2.950% | 2/23/25 | 70 | 72 | |
1 | PNC Bank NA | 3.100% | 10/25/27 | 50 | 52 | |
1 | PNC Bank NA | 4.050% | 7/26/28 | 125 | 134 | |
1 | PNC Bank NA | 2.700% | 10/22/29 | 230 | 227 | |
PNC Financial Services Group Inc. | 3.500% | 1/23/24 | 95 | 98 | ||
PNC Financial Services Group Inc. | 3.900% | 4/29/24 | 105 | 109 | ||
PNC Financial Services Group Inc. | 2.600% | 7/23/26 | 25 | 25 | ||
PNC Financial Services Group Inc. | 3.150% | 5/19/27 | 110 | 114 | ||
PNC Financial Services Group Inc. | 3.450% | 4/23/29 | 230 | 241 | ||
PNC Financial Services Group Inc. | 2.550% | 1/22/30 | 70 | 69 | ||
PNC Financial Services Group Inc. | 2.307% | 4/23/32 | 25 | 24 | ||
Progressive Corp. | 4.125% | 4/15/47 | 145 | 158 | ||
1 | Prudential Financial Inc. | 5.700% | 12/14/36 | 180 | 229 | |
1 | Prudential Financial Inc. | 5.625% | 6/15/43 | 65 | 67 | |
1 | Prudential Financial Inc. | 5.375% | 5/15/45 | 25 | 25 | |
1 | Prudential Financial Inc. | 4.500% | 9/15/47 | 50 | 48 | |
Prudential Financial Inc. | 3.905% | 12/7/47 | 70 | 73 | ||
1 | Prudential Financial Inc. | 5.700% | 9/15/48 | 75 | 78 | |
Prudential Financial Inc. | 3.935% | 12/7/49 | 160 | 168 | ||
1 | Prudential Financial Inc. | 4.350% | 2/25/50 | 95 | 107 | |
1 | Prudential Financial Inc. | 3.700% | 10/1/50 | 40 | 37 | |
1 | Prudential Financial Inc. | 3.700% | 3/13/51 | 70 | 71 | |
Prudential plc | 3.125% | 4/14/30 | 95 | 97 | ||
Raymond James Financial Inc. | 4.950% | 7/15/46 | 35 | 40 | ||
Raymond James Financial Inc. | 3.750% | 4/1/51 | 90 | 90 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Regions Financial Corp. | 2.250% | 5/18/25 | 75 | 75 | ||
1 | Royal Bank of Canada | 1.600% | 4/17/23 | 85 | 85 | |
1 | Royal Bank of Canada | 3.700% | 10/5/23 | 175 | 180 | |
1 | Royal Bank of Canada | 0.500% | 10/26/23 | 120 | 118 | |
1 | Royal Bank of Canada | 0.425% | 1/19/24 | 75 | 73 | |
1 | Royal Bank of Canada | 2.550% | 7/16/24 | 100 | 101 | |
Royal Bank of Canada | 0.650% | 7/29/24 | 80 | 77 | ||
1 | Royal Bank of Canada | 0.750% | 10/7/24 | 110 | 106 | |
1 | Royal Bank of Canada | 2.250% | 11/1/24 | 245 | 245 | |
1 | Royal Bank of Canada | 1.600% | 1/21/25 | 30 | 29 | |
1 | Royal Bank of Canada | 1.150% | 6/10/25 | 150 | 144 | |
1 | Royal Bank of Canada | 0.875% | 1/20/26 | 150 | 142 | |
1 | Royal Bank of Canada | 4.650% | 1/27/26 | 70 | 75 | |
Royal Bank of Canada | 1.200% | 4/27/26 | 145 | 138 | ||
1 | Royal Bank of Canada | 1.150% | 7/14/26 | 65 | 62 | |
1 | Royal Bank of Canada | 1.400% | 11/2/26 | 110 | 105 | |
1 | Royal Bank of Canada | 2.300% | 11/3/31 | 130 | 123 | |
Santander Holdings USA Inc. | 4.500% | 7/17/25 | 20 | 21 | ||
Santander Holdings USA Inc. | 3.244% | 10/5/26 | 170 | 172 | ||
Santander Holdings USA Inc. | 4.400% | 7/13/27 | 115 | 121 | ||
Santander Holdings USA Inc. | 2.490% | 1/6/28 | 80 | 78 | ||
Santander UK Group Holdings plc | 1.089% | 3/15/25 | 30 | 29 | ||
1 | Santander UK Group Holdings plc | 1.532% | 8/21/26 | 75 | 72 | |
Santander UK Group Holdings plc | 1.673% | 6/14/27 | 100 | 94 | ||
1 | Santander UK Group Holdings plc | 3.823% | 11/3/28 | 115 | 118 | |
Santander UK plc | 4.000% | 3/13/24 | 160 | 166 | ||
State Street Corp. | 3.100% | 5/15/23 | 105 | 107 | ||
State Street Corp. | 3.700% | 11/20/23 | 115 | 119 | ||
State Street Corp. | 3.300% | 12/16/24 | 135 | 140 | ||
State Street Corp. | 3.550% | 8/18/25 | 150 | 157 | ||
1 | State Street Corp. | 2.354% | 11/1/25 | 75 | 75 | |
State Street Corp. | 2.650% | 5/19/26 | 35 | 36 | ||
State Street Corp. | 2.400% | 1/24/30 | 145 | 142 | ||
State Street Corp. | 2.200% | 3/3/31 | 25 | 24 | ||
Sumitomo Mitsui Financial Group Inc. | 3.748% | 7/19/23 | 176 | 181 | ||
Sumitomo Mitsui Financial Group Inc. | 3.936% | 10/16/23 | 245 | 253 | ||
Sumitomo Mitsui Financial Group Inc. | 2.696% | 7/16/24 | 75 | 76 | ||
Sumitomo Mitsui Financial Group Inc. | 2.448% | 9/27/24 | 100 | 100 | ||
Sumitomo Mitsui Financial Group Inc. | 2.348% | 1/15/25 | 80 | 80 | ||
Sumitomo Mitsui Financial Group Inc. | 1.474% | 7/8/25 | 110 | 106 | ||
Sumitomo Mitsui Financial Group Inc. | 3.784% | 3/9/26 | 95 | 99 | ||
Sumitomo Mitsui Financial Group Inc. | 2.632% | 7/14/26 | 75 | 75 | ||
Sumitomo Mitsui Financial Group Inc. | 1.402% | 9/17/26 | 365 | 345 | ||
Sumitomo Mitsui Financial Group Inc. | 3.010% | 10/19/26 | 170 | 173 | ||
Sumitomo Mitsui Financial Group Inc. | 3.446% | 1/11/27 | 60 | 62 | ||
Sumitomo Mitsui Financial Group Inc. | 3.364% | 7/12/27 | 50 | 52 | ||
Sumitomo Mitsui Financial Group Inc. | 3.352% | 10/18/27 | 100 | 103 | ||
Sumitomo Mitsui Financial Group Inc. | 3.544% | 1/17/28 | 110 | 114 | ||
Sumitomo Mitsui Financial Group Inc. | 1.902% | 9/17/28 | 50 | 47 | ||
Sumitomo Mitsui Financial Group Inc. | 3.040% | 7/16/29 | 175 | 175 | ||
Sumitomo Mitsui Financial Group Inc. | 2.750% | 1/15/30 | 145 | 142 | ||
Sumitomo Mitsui Financial Group Inc. | 2.130% | 7/8/30 | 160 | 149 | ||
Sumitomo Mitsui Financial Group Inc. | 2.142% | 9/23/30 | 160 | 146 | ||
Sumitomo Mitsui Financial Group Inc. | 2.222% | 9/17/31 | 101 | 94 | ||
Sumitomo Mitsui Financial Group Inc. | 2.930% | 9/17/41 | 55 | 50 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | Svenska Handelsbanken AB | 3.900% | 11/20/23 | 220 | 228 | |
Synchrony Financial | 4.250% | 8/15/24 | 75 | 78 | ||
Synchrony Financial | 4.500% | 7/23/25 | 50 | 52 | ||
Synchrony Financial | 3.950% | 12/1/27 | 80 | 83 | ||
1 | Toronto-Dominion Bank | 0.300% | 6/2/23 | 100 | 98 | |
1 | Toronto-Dominion Bank | 0.750% | 6/12/23 | 135 | 134 | |
1 | Toronto-Dominion Bank | 3.500% | 7/19/23 | 265 | 272 | |
1 | Toronto-Dominion Bank | 0.450% | 9/11/23 | 70 | 69 | |
Toronto-Dominion Bank | 0.550% | 3/4/24 | 165 | 160 | ||
1 | Toronto-Dominion Bank | 3.250% | 3/11/24 | 110 | 113 | |
1 | Toronto-Dominion Bank | 2.650% | 6/12/24 | 75 | 76 | |
1 | Toronto-Dominion Bank | 0.700% | 9/10/24 | 10 | 10 | |
1 | Toronto-Dominion Bank | 1.450% | 1/10/25 | 230 | 225 | |
1 | Toronto-Dominion Bank | 1.150% | 6/12/25 | 40 | 39 | |
1 | Toronto-Dominion Bank | 0.750% | 9/11/25 | 60 | 57 | |
1 | Toronto-Dominion Bank | 0.750% | 1/6/26 | 130 | 123 | |
1 | Toronto-Dominion Bank | 1.200% | 6/3/26 | 160 | 152 | |
1 | Toronto-Dominion Bank | 1.250% | 9/10/26 | 80 | 76 | |
1 | Toronto-Dominion Bank | 1.950% | 1/12/27 | 140 | 137 | |
1 | Toronto-Dominion Bank | 2.000% | 9/10/31 | 100 | 93 | |
1 | Toronto-Dominion Bank | 3.625% | 9/15/31 | 45 | 46 | |
1 | Travelers Cos. Inc. | 6.250% | 6/15/37 | 40 | 54 | |
Travelers Cos. Inc. | 5.350% | 11/1/40 | 115 | 145 | ||
Travelers Cos. Inc. | 3.050% | 6/8/51 | 45 | 42 | ||
1 | Truist Bank | 1.250% | 3/9/23 | 75 | 75 | |
1 | Truist Bank | 3.200% | 4/1/24 | 150 | 154 | |
1 | Truist Bank | 2.150% | 12/6/24 | 100 | 100 | |
1 | Truist Bank | 1.500% | 3/10/25 | 70 | 69 | |
1 | Truist Bank | 3.625% | 9/16/25 | 45 | 47 | |
1 | Truist Bank | 3.300% | 5/15/26 | 30 | 31 | |
1 | Truist Bank | 3.800% | 10/30/26 | 115 | 121 | |
1 | Truist Bank | 2.636% | 9/17/29 | 85 | 85 | |
1 | Truist Bank | 2.250% | 3/11/30 | 155 | 147 | |
1 | Truist Financial Corp. | 2.200% | 3/16/23 | 105 | 106 | |
1 | Truist Financial Corp. | 3.750% | 12/6/23 | 46 | 47 | |
1 | Truist Financial Corp. | 2.500% | 8/1/24 | 105 | 106 | |
1 | Truist Financial Corp. | 2.850% | 10/26/24 | 125 | 127 | |
1 | Truist Financial Corp. | 3.700% | 6/5/25 | 80 | 84 | |
1 | Truist Financial Corp. | 1.200% | 8/5/25 | 20 | 19 | |
1 | Truist Financial Corp. | 1.267% | 3/2/27 | 105 | 100 | |
1 | Truist Financial Corp. | 1.125% | 8/3/27 | 75 | 70 | |
1 | Truist Financial Corp. | 1.887% | 6/7/29 | 25 | 24 | |
1 | Truist Financial Corp. | 1.950% | 6/5/30 | 70 | 66 | |
1 | US Bancorp | 3.700% | 1/30/24 | 50 | 52 | |
US Bancorp | 3.375% | 2/5/24 | 70 | 72 | ||
US Bancorp | 2.400% | 7/30/24 | 125 | 126 | ||
1 | US Bancorp | 3.600% | 9/11/24 | 70 | 73 | |
US Bancorp | 1.450% | 5/12/25 | 75 | 73 | ||
1 | US Bancorp | 3.950% | 11/17/25 | 175 | 185 | |
1 | US Bancorp | 3.100% | 4/27/26 | 75 | 77 | |
1 | US Bancorp | 2.375% | 7/22/26 | 70 | 70 | |
1 | US Bancorp | 3.150% | 4/27/27 | 100 | 104 | |
1 | US Bancorp | 3.900% | 4/26/28 | 70 | 75 | |
1 | US Bancorp | 3.000% | 7/30/29 | 80 | 81 | |
1 | US Bancorp | 1.375% | 7/22/30 | 133 | 119 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
1 | US Bancorp | 2.677% | 1/27/33 | 40 | 39 | |
US Bancorp | 2.491% | 11/3/36 | 10 | 9 | ||
1 | US Bank NA | 3.400% | 7/24/23 | 30 | 31 | |
1 | US Bank NA | 2.050% | 1/21/25 | 80 | 80 | |
1 | US Bank NA | 2.800% | 1/27/25 | 95 | 97 | |
Visa Inc. | 3.150% | 12/14/25 | 120 | 124 | ||
Visa Inc. | 1.900% | 4/15/27 | 225 | 222 | ||
Visa Inc. | 2.750% | 9/15/27 | 105 | 108 | ||
Visa Inc. | 2.050% | 4/15/30 | 240 | 232 | ||
Visa Inc. | 1.100% | 2/15/31 | 50 | 44 | ||
Visa Inc. | 4.150% | 12/14/35 | 90 | 101 | ||
Visa Inc. | 4.300% | 12/14/45 | 280 | 324 | ||
Visa Inc. | 3.650% | 9/15/47 | 125 | 132 | ||
Visa Inc. | 2.000% | 8/15/50 | 70 | 56 | ||
Westpac Banking Corp. | 3.650% | 5/15/23 | 50 | 51 | ||
Westpac Banking Corp. | 3.300% | 2/26/24 | 70 | 72 | ||
Westpac Banking Corp. | 1.019% | 11/18/24 | 80 | 78 | ||
Westpac Banking Corp. | 2.350% | 2/19/25 | 90 | 91 | ||
Westpac Banking Corp. | 2.850% | 5/13/26 | 175 | 180 | ||
Westpac Banking Corp. | 1.150% | 6/3/26 | 60 | 57 | ||
Westpac Banking Corp. | 2.700% | 8/19/26 | 80 | 81 | ||
Westpac Banking Corp. | 3.350% | 3/8/27 | 240 | 251 | ||
Westpac Banking Corp. | 3.400% | 1/25/28 | 150 | 157 | ||
Westpac Banking Corp. | 1.953% | 11/20/28 | 240 | 229 | ||
Westpac Banking Corp. | 2.650% | 1/16/30 | 15 | 15 | ||
1 | Westpac Banking Corp. | 2.894% | 2/4/30 | 25 | 25 | |
Westpac Banking Corp. | 2.150% | 6/3/31 | 10 | 10 | ||
1 | Westpac Banking Corp. | 4.322% | 11/23/31 | 180 | 188 | |
Westpac Banking Corp. | 4.110% | 7/24/34 | 75 | 77 | ||
Westpac Banking Corp. | 2.668% | 11/15/35 | 70 | 63 | ||
Westpac Banking Corp. | 3.020% | 11/18/36 | 190 | 177 | ||
Westpac Banking Corp. | 4.421% | 7/24/39 | 110 | 119 | ||
Westpac Banking Corp. | 2.963% | 11/16/40 | 90 | 79 | ||
Westpac Banking Corp. | 3.133% | 11/18/41 | 30 | 27 | ||
119,415 | ||||||
Health Care (15.6%) | ||||||
Abbott Laboratories | 3.400% | 11/30/23 | 90 | 93 | ||
Abbott Laboratories | 2.950% | 3/15/25 | 100 | 103 | ||
Abbott Laboratories | 3.750% | 11/30/26 | 135 | 144 | ||
3 | Abbott Laboratories | 4.750% | 11/30/36 | 130 | 155 | |
Abbott Laboratories | 4.900% | 11/30/46 | 250 | 309 | ||
AbbVie Inc. | 2.850% | 5/14/23 | 50 | 51 | ||
AbbVie Inc. | 3.750% | 11/14/23 | 230 | 237 | ||
AbbVie Inc. | 3.850% | 6/15/24 | 125 | 129 | ||
AbbVie Inc. | 2.600% | 11/21/24 | 425 | 429 | ||
AbbVie Inc. | 3.800% | 3/15/25 | 150 | 156 | ||
AbbVie Inc. | 3.600% | 5/14/25 | 347 | 359 | ||
AbbVie Inc. | 3.200% | 5/14/26 | 185 | 190 | ||
AbbVie Inc. | 2.950% | 11/21/26 | 175 | 178 | ||
AbbVie Inc. | 4.250% | 11/14/28 | 170 | 184 | ||
AbbVie Inc. | 3.200% | 11/21/29 | 365 | 370 | ||
AbbVie Inc. | 4.550% | 3/15/35 | 175 | 194 | ||
AbbVie Inc. | 4.500% | 5/14/35 | 270 | 300 | ||
AbbVie Inc. | 4.300% | 5/14/36 | 150 | 163 | ||
AbbVie Inc. | 4.050% | 11/21/39 | 145 | 152 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
AbbVie Inc. | 4.400% | 11/6/42 | 195 | 211 | ||
AbbVie Inc. | 4.850% | 6/15/44 | 85 | 96 | ||
AbbVie Inc. | 4.750% | 3/15/45 | 205 | 228 | ||
AbbVie Inc. | 4.700% | 5/14/45 | 285 | 317 | ||
AbbVie Inc. | 4.450% | 5/14/46 | 240 | 259 | ||
AbbVie Inc. | 4.875% | 11/14/48 | 130 | 150 | ||
AbbVie Inc. | 4.250% | 11/21/49 | 395 | 420 | ||
Aetna Inc. | 2.800% | 6/15/23 | 20 | 20 | ||
Aetna Inc. | 3.500% | 11/15/24 | 110 | 113 | ||
Aetna Inc. | 6.625% | 6/15/36 | 80 | 107 | ||
Aetna Inc. | 3.875% | 8/15/47 | 55 | 55 | ||
Agilent Technologies Inc. | 2.300% | 3/12/31 | 75 | 70 | ||
AmerisourceBergen Corp. | 0.737% | 3/15/23 | 170 | 169 | ||
AmerisourceBergen Corp. | 3.450% | 12/15/27 | 55 | 57 | ||
AmerisourceBergen Corp. | 2.700% | 3/15/31 | 160 | 154 | ||
Amgen Inc. | 2.250% | 8/19/23 | 50 | 50 | ||
Amgen Inc. | 3.625% | 5/22/24 | 150 | 155 | ||
Amgen Inc. | 3.125% | 5/1/25 | 70 | 72 | ||
Amgen Inc. | 2.600% | 8/19/26 | 40 | 40 | ||
Amgen Inc. | 2.200% | 2/21/27 | 290 | 286 | ||
Amgen Inc. | 3.200% | 11/2/27 | 10 | 10 | ||
Amgen Inc. | 1.650% | 8/15/28 | 50 | 47 | ||
Amgen Inc. | 3.000% | 2/22/29 | 105 | 106 | ||
Amgen Inc. | 2.450% | 2/21/30 | 130 | 126 | ||
Amgen Inc. | 2.300% | 2/25/31 | 135 | 128 | ||
Amgen Inc. | 2.000% | 1/15/32 | 115 | 105 | ||
Amgen Inc. | 3.350% | 2/22/32 | 40 | 41 | ||
Amgen Inc. | 3.150% | 2/21/40 | 115 | 107 | ||
Amgen Inc. | 2.800% | 8/15/41 | 120 | 105 | ||
Amgen Inc. | 4.400% | 5/1/45 | 240 | 256 | ||
Amgen Inc. | 4.563% | 6/15/48 | 215 | 236 | ||
Amgen Inc. | 3.375% | 2/21/50 | 150 | 138 | ||
Amgen Inc. | 4.663% | 6/15/51 | 185 | 208 | ||
Amgen Inc. | 3.000% | 1/15/52 | 145 | 124 | ||
Amgen Inc. | 2.770% | 9/1/53 | 195 | 158 | ||
Amgen Inc. | 4.400% | 2/22/62 | 115 | 121 | ||
Anthem Inc. | 3.500% | 8/15/24 | 75 | 77 | ||
Anthem Inc. | 3.350% | 12/1/24 | 50 | 51 | ||
Anthem Inc. | 2.375% | 1/15/25 | 200 | 201 | ||
Anthem Inc. | 1.500% | 3/15/26 | 50 | 48 | ||
Anthem Inc. | 3.650% | 12/1/27 | 122 | 128 | ||
Anthem Inc. | 4.101% | 3/1/28 | 125 | 134 | ||
Anthem Inc. | 2.875% | 9/15/29 | 70 | 70 | ||
Anthem Inc. | 2.250% | 5/15/30 | 155 | 147 | ||
Anthem Inc. | 2.550% | 3/15/31 | 60 | 58 | ||
Anthem Inc. | 4.625% | 5/15/42 | 175 | 196 | ||
Anthem Inc. | 4.650% | 1/15/43 | 50 | 56 | ||
Anthem Inc. | 4.650% | 8/15/44 | 30 | 34 | ||
Anthem Inc. | 4.375% | 12/1/47 | 165 | 181 | ||
Anthem Inc. | 4.550% | 3/1/48 | 30 | 34 | ||
Anthem Inc. | 3.700% | 9/15/49 | 110 | 109 | ||
Anthem Inc. | 3.125% | 5/15/50 | 80 | 73 | ||
Anthem Inc. | 3.600% | 3/15/51 | 50 | 49 | ||
AstraZeneca Finance LLC | 0.700% | 5/28/24 | 180 | 175 | ||
AstraZeneca Finance LLC | 1.200% | 5/28/26 | 45 | 43 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
AstraZeneca Finance LLC | 1.750% | 5/28/28 | 95 | 91 | ||
AstraZeneca Finance LLC | 2.250% | 5/28/31 | 45 | 43 | ||
AstraZeneca plc | 0.300% | 5/26/23 | 120 | 118 | ||
AstraZeneca plc | 3.500% | 8/17/23 | 45 | 46 | ||
AstraZeneca plc | 3.375% | 11/16/25 | 150 | 156 | ||
AstraZeneca plc | 0.700% | 4/8/26 | 100 | 94 | ||
AstraZeneca plc | 3.125% | 6/12/27 | 115 | 119 | ||
AstraZeneca plc | 4.000% | 1/17/29 | 100 | 108 | ||
AstraZeneca plc | 1.375% | 8/6/30 | 70 | 63 | ||
AstraZeneca plc | 6.450% | 9/15/37 | 290 | 398 | ||
AstraZeneca plc | 4.000% | 9/18/42 | 110 | 119 | ||
AstraZeneca plc | 4.375% | 11/16/45 | 85 | 97 | ||
AstraZeneca plc | 4.375% | 8/17/48 | 47 | 54 | ||
AstraZeneca plc | 3.000% | 5/28/51 | 70 | 66 | ||
Baxalta Inc. | 4.000% | 6/23/25 | 105 | 110 | ||
2 | Baxter International Inc. | 0.868% | 12/1/23 | 180 | 177 | |
2 | Baxter International Inc. | 1.322% | 11/29/24 | 70 | 68 | |
Baxter International Inc. | 2.600% | 8/15/26 | 56 | 56 | ||
2 | Baxter International Inc. | 1.915% | 2/1/27 | 115 | 112 | |
2 | Baxter International Inc. | 2.272% | 12/1/28 | 85 | 82 | |
2 | Baxter International Inc. | 2.539% | 2/1/32 | 250 | 240 | |
2 | Baxter International Inc. | 3.132% | 12/1/51 | 50 | 45 | |
Becton Dickinson & Co. | 3.363% | 6/6/24 | 57 | 58 | ||
Becton Dickinson & Co. | 3.734% | 12/15/24 | 100 | 103 | ||
Becton Dickinson & Co. | 3.700% | 6/6/27 | 169 | 177 | ||
Becton Dickinson & Co. | 2.823% | 5/20/30 | 120 | 118 | ||
Becton Dickinson & Co. | 1.957% | 2/11/31 | 110 | 100 | ||
Becton Dickinson & Co. | 4.669% | 6/6/47 | 100 | 112 | ||
Becton Dickinson & Co. | 3.794% | 5/20/50 | 85 | 85 | ||
Biogen Inc. | 4.050% | 9/15/25 | 55 | 58 | ||
Biogen Inc. | 2.250% | 5/1/30 | 200 | 183 | ||
Biogen Inc. | 3.150% | 5/1/50 | 140 | 116 | ||
Boston Scientific Corp. | 3.450% | 3/1/24 | 85 | 87 | ||
Boston Scientific Corp. | 3.750% | 3/1/26 | 230 | 240 | ||
Boston Scientific Corp. | 4.000% | 3/1/29 | 100 | 106 | ||
Boston Scientific Corp. | 2.650% | 6/1/30 | 25 | 24 | ||
Boston Scientific Corp. | 4.550% | 3/1/39 | 60 | 66 | ||
Boston Scientific Corp. | 4.700% | 3/1/49 | 71 | 81 | ||
Bristol-Myers Squibb Co. | 0.537% | 11/13/23 | 240 | 236 | ||
Bristol-Myers Squibb Co. | 2.900% | 7/26/24 | 165 | 169 | ||
Bristol-Myers Squibb Co. | 3.875% | 8/15/25 | 145 | 153 | ||
Bristol-Myers Squibb Co. | 0.750% | 11/13/25 | 100 | 95 | ||
Bristol-Myers Squibb Co. | 3.200% | 6/15/26 | 200 | 208 | ||
Bristol-Myers Squibb Co. | 3.250% | 2/27/27 | 30 | 31 | ||
Bristol-Myers Squibb Co. | 1.125% | 11/13/27 | 65 | 61 | ||
Bristol-Myers Squibb Co. | 3.450% | 11/15/27 | 180 | 190 | ||
Bristol-Myers Squibb Co. | 3.900% | 2/20/28 | 105 | 113 | ||
Bristol-Myers Squibb Co. | 3.400% | 7/26/29 | 330 | 347 | ||
Bristol-Myers Squibb Co. | 1.450% | 11/13/30 | 115 | 104 | ||
4 | Bristol-Myers Squibb Co. | 2.950% | 3/15/32 | 180 | 183 | |
Bristol-Myers Squibb Co. | 4.125% | 6/15/39 | 180 | 197 | ||
Bristol-Myers Squibb Co. | 2.350% | 11/13/40 | 100 | 87 | ||
4 | Bristol-Myers Squibb Co. | 3.550% | 3/15/42 | 90 | 92 | |
Bristol-Myers Squibb Co. | 5.000% | 8/15/45 | 189 | 234 | ||
Bristol-Myers Squibb Co. | 4.350% | 11/15/47 | 100 | 113 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Bristol-Myers Squibb Co. | 4.550% | 2/20/48 | 170 | 198 | ||
Bristol-Myers Squibb Co. | 4.250% | 10/26/49 | 205 | 230 | ||
Bristol-Myers Squibb Co. | 2.550% | 11/13/50 | 175 | 148 | ||
4 | Bristol-Myers Squibb Co. | 3.700% | 3/15/52 | 175 | 180 | |
4 | Bristol-Myers Squibb Co. | 3.900% | 3/15/62 | 90 | 93 | |
Cardinal Health Inc. | 3.079% | 6/15/24 | 50 | 51 | ||
Cardinal Health Inc. | 3.410% | 6/15/27 | 95 | 98 | ||
1 | Cigna Corp. | 3.000% | 7/15/23 | 100 | 102 | |
Cigna Corp. | 3.750% | 7/15/23 | 76 | 78 | ||
1 | Cigna Corp. | 3.250% | 4/15/25 | 125 | 128 | |
Cigna Corp. | 4.125% | 11/15/25 | 100 | 105 | ||
1 | Cigna Corp. | 4.500% | 2/25/26 | 210 | 225 | |
Cigna Corp. | 1.250% | 3/15/26 | 125 | 120 | ||
1 | Cigna Corp. | 3.400% | 3/1/27 | 75 | 78 | |
Cigna Corp. | 4.375% | 10/15/28 | 145 | 157 | ||
Cigna Corp. | 2.400% | 3/15/30 | 201 | 191 | ||
Cigna Corp. | 2.375% | 3/15/31 | 230 | 217 | ||
Cigna Corp. | 4.800% | 8/15/38 | 125 | 139 | ||
Cigna Corp. | 3.200% | 3/15/40 | 65 | 60 | ||
1 | Cigna Corp. | 4.800% | 7/15/46 | 170 | 190 | |
1 | Cigna Corp. | 3.875% | 10/15/47 | 120 | 118 | |
Cigna Corp. | 4.900% | 12/15/48 | 170 | 193 | ||
Cigna Corp. | 3.400% | 3/15/50 | 195 | 178 | ||
Cigna Corp. | 3.400% | 3/15/51 | 115 | 105 | ||
CVS Health Corp. | 2.625% | 8/15/24 | 10 | 10 | ||
CVS Health Corp. | 3.875% | 7/20/25 | 300 | 314 | ||
CVS Health Corp. | 2.875% | 6/1/26 | 115 | 116 | ||
CVS Health Corp. | 3.000% | 8/15/26 | 265 | 270 | ||
CVS Health Corp. | 3.625% | 4/1/27 | 200 | 209 | ||
CVS Health Corp. | 1.300% | 8/21/27 | 125 | 117 | ||
CVS Health Corp. | 4.300% | 3/25/28 | 55 | 59 | ||
CVS Health Corp. | 3.250% | 8/15/29 | 280 | 285 | ||
CVS Health Corp. | 3.750% | 4/1/30 | 85 | 89 | ||
CVS Health Corp. | 1.750% | 8/21/30 | 180 | 163 | ||
CVS Health Corp. | 2.125% | 9/15/31 | 50 | 46 | ||
CVS Health Corp. | 4.780% | 3/25/38 | 460 | 515 | ||
CVS Health Corp. | 4.125% | 4/1/40 | 75 | 78 | ||
CVS Health Corp. | 2.700% | 8/21/40 | 80 | 70 | ||
CVS Health Corp. | 5.300% | 12/5/43 | 125 | 149 | ||
CVS Health Corp. | 5.125% | 7/20/45 | 295 | 342 | ||
CVS Health Corp. | 5.050% | 3/25/48 | 680 | 794 | ||
CVS Health Corp. | 4.250% | 4/1/50 | 140 | 150 | ||
Danaher Corp. | 2.600% | 10/1/50 | 85 | 72 | ||
DENTSPLY SIRONA Inc. | 3.250% | 6/1/30 | 45 | 45 | ||
DH Europe Finance II Sarl | 2.600% | 11/15/29 | 135 | 133 | ||
DH Europe Finance II Sarl | 3.250% | 11/15/39 | 140 | 137 | ||
DH Europe Finance II Sarl | 3.400% | 11/15/49 | 25 | 24 | ||
Eli Lilly & Co. | 3.375% | 3/15/29 | 67 | 71 | ||
Eli Lilly & Co. | 2.250% | 5/15/50 | 111 | 92 | ||
Eli Lilly & Co. | 2.500% | 9/15/60 | 115 | 95 | ||
Gilead Sciences Inc. | 2.500% | 9/1/23 | 60 | 61 | ||
Gilead Sciences Inc. | 3.700% | 4/1/24 | 265 | 274 | ||
Gilead Sciences Inc. | 3.500% | 2/1/25 | 110 | 114 | ||
Gilead Sciences Inc. | 3.650% | 3/1/26 | 35 | 37 | ||
Gilead Sciences Inc. | 2.950% | 3/1/27 | 125 | 127 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Gilead Sciences Inc. | 1.200% | 10/1/27 | 35 | 33 | ||
Gilead Sciences Inc. | 1.650% | 10/1/30 | 135 | 123 | ||
Gilead Sciences Inc. | 4.600% | 9/1/35 | 50 | 57 | ||
Gilead Sciences Inc. | 4.000% | 9/1/36 | 110 | 117 | ||
Gilead Sciences Inc. | 2.600% | 10/1/40 | 50 | 43 | ||
Gilead Sciences Inc. | 5.650% | 12/1/41 | 40 | 50 | ||
Gilead Sciences Inc. | 4.800% | 4/1/44 | 160 | 182 | ||
Gilead Sciences Inc. | 4.500% | 2/1/45 | 150 | 164 | ||
Gilead Sciences Inc. | 4.750% | 3/1/46 | 205 | 233 | ||
Gilead Sciences Inc. | 4.150% | 3/1/47 | 170 | 178 | ||
Gilead Sciences Inc. | 2.800% | 10/1/50 | 95 | 80 | ||
GlaxoSmithKline Capital Inc. | 2.800% | 3/18/23 | 90 | 91 | ||
GlaxoSmithKline Capital Inc. | 3.375% | 5/15/23 | 135 | 138 | ||
GlaxoSmithKline Capital Inc. | 3.625% | 5/15/25 | 50 | 52 | ||
GlaxoSmithKline Capital Inc. | 3.875% | 5/15/28 | 105 | 113 | ||
GlaxoSmithKline Capital Inc. | 6.375% | 5/15/38 | 225 | 311 | ||
GlaxoSmithKline Capital plc | 0.534% | 10/1/23 | 85 | 84 | ||
GlaxoSmithKline Capital plc | 3.000% | 6/1/24 | 55 | 56 | ||
GlaxoSmithKline Capital plc | 3.375% | 6/1/29 | 85 | 89 | ||
HCA Inc. | 4.750% | 5/1/23 | 135 | 139 | ||
HCA Inc. | 5.000% | 3/15/24 | 260 | 273 | ||
HCA Inc. | 5.250% | 4/15/25 | 120 | 129 | ||
HCA Inc. | 5.250% | 6/15/26 | 125 | 135 | ||
HCA Inc. | 4.500% | 2/15/27 | 75 | 79 | ||
HCA Inc. | 4.125% | 6/15/29 | 75 | 79 | ||
HCA Inc. | 2.375% | 7/15/31 | 95 | 88 | ||
HCA Inc. | 5.125% | 6/15/39 | 130 | 145 | ||
HCA Inc. | 5.500% | 6/15/47 | 115 | 135 | ||
HCA Inc. | 5.250% | 6/15/49 | 180 | 205 | ||
HCA Inc. | 3.500% | 7/15/51 | 115 | 102 | ||
Humana Inc. | 0.650% | 8/3/23 | 145 | 143 | ||
Humana Inc. | 1.350% | 2/3/27 | 75 | 71 | ||
Humana Inc. | 2.150% | 2/3/32 | 35 | 32 | ||
Humana Inc. | 4.950% | 10/1/44 | 108 | 126 | ||
Johnson & Johnson | 3.375% | 12/5/23 | 60 | 62 | ||
Johnson & Johnson | 2.625% | 1/15/25 | 25 | 26 | ||
Johnson & Johnson | 0.550% | 9/1/25 | 160 | 152 | ||
Johnson & Johnson | 2.450% | 3/1/26 | 195 | 199 | ||
Johnson & Johnson | 2.950% | 3/3/27 | 115 | 119 | ||
Johnson & Johnson | 2.900% | 1/15/28 | 210 | 217 | ||
Johnson & Johnson | 1.300% | 9/1/30 | 125 | 115 | ||
Johnson & Johnson | 4.375% | 12/5/33 | 30 | 35 | ||
Johnson & Johnson | 3.550% | 3/1/36 | 50 | 54 | ||
Johnson & Johnson | 3.625% | 3/3/37 | 160 | 172 | ||
Johnson & Johnson | 5.950% | 8/15/37 | 115 | 156 | ||
Johnson & Johnson | 3.400% | 1/15/38 | 10 | 10 | ||
Johnson & Johnson | 2.100% | 9/1/40 | 70 | 60 | ||
Johnson & Johnson | 3.700% | 3/1/46 | 250 | 268 | ||
Johnson & Johnson | 3.750% | 3/3/47 | 10 | 11 | ||
Johnson & Johnson | 3.500% | 1/15/48 | 110 | 115 | ||
Johnson & Johnson | 2.250% | 9/1/50 | 90 | 75 | ||
Johnson & Johnson | 2.450% | 9/1/60 | 85 | 71 | ||
Laboratory Corp. of America Holdings | 3.600% | 2/1/25 | 60 | 62 | ||
Laboratory Corp. of America Holdings | 4.700% | 2/1/45 | 25 | 28 | ||
McKesson Corp. | 3.796% | 3/15/24 | 75 | 77 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Medtronic Inc. | 3.500% | 3/15/25 | 227 | 237 | ||
Medtronic Inc. | 4.375% | 3/15/35 | 120 | 137 | ||
Medtronic Inc. | 4.625% | 3/15/45 | 180 | 212 | ||
Merck & Co. Inc. | 2.800% | 5/18/23 | 156 | 159 | ||
Merck & Co. Inc. | 2.900% | 3/7/24 | 50 | 51 | ||
Merck & Co. Inc. | 2.750% | 2/10/25 | 190 | 194 | ||
Merck & Co. Inc. | 0.750% | 2/24/26 | 135 | 129 | ||
Merck & Co. Inc. | 1.700% | 6/10/27 | 75 | 73 | ||
Merck & Co. Inc. | 1.900% | 12/10/28 | 75 | 73 | ||
Merck & Co. Inc. | 3.400% | 3/7/29 | 190 | 200 | ||
Merck & Co. Inc. | 1.450% | 6/24/30 | 170 | 155 | ||
Merck & Co. Inc. | 2.150% | 12/10/31 | 175 | 167 | ||
Merck & Co. Inc. | 3.900% | 3/7/39 | 95 | 103 | ||
Merck & Co. Inc. | 2.350% | 6/24/40 | 115 | 101 | ||
Merck & Co. Inc. | 4.150% | 5/18/43 | 55 | 61 | ||
Merck & Co. Inc. | 3.700% | 2/10/45 | 225 | 235 | ||
Merck & Co. Inc. | 4.000% | 3/7/49 | 115 | 127 | ||
Merck & Co. Inc. | 2.450% | 6/24/50 | 130 | 111 | ||
Merck & Co. Inc. | 2.750% | 12/10/51 | 140 | 125 | ||
Merck & Co. Inc. | 2.900% | 12/10/61 | 120 | 106 | ||
Mylan Inc. | 4.550% | 4/15/28 | 25 | 27 | ||
Mylan Inc. | 5.200% | 4/15/48 | 210 | 228 | ||
Novartis Capital Corp. | 3.400% | 5/6/24 | 165 | 171 | ||
Novartis Capital Corp. | 1.750% | 2/14/25 | 35 | 35 | ||
Novartis Capital Corp. | 3.000% | 11/20/25 | 65 | 67 | ||
Novartis Capital Corp. | 2.000% | 2/14/27 | 85 | 84 | ||
Novartis Capital Corp. | 3.100% | 5/17/27 | 100 | 104 | ||
Novartis Capital Corp. | 2.200% | 8/14/30 | 235 | 228 | ||
Novartis Capital Corp. | 4.400% | 5/6/44 | 170 | 198 | ||
Novartis Capital Corp. | 4.000% | 11/20/45 | 90 | 100 | ||
Novartis Capital Corp. | 2.750% | 8/14/50 | 45 | 41 | ||
PerkinElmer Inc. | 0.850% | 9/15/24 | 50 | 48 | ||
PerkinElmer Inc. | 3.300% | 9/15/29 | 135 | 136 | ||
Pfizer Inc. | 3.000% | 6/15/23 | 60 | 61 | ||
Pfizer Inc. | 3.200% | 9/15/23 | 100 | 103 | ||
Pfizer Inc. | 2.950% | 3/15/24 | 75 | 77 | ||
Pfizer Inc. | 3.400% | 5/15/24 | 100 | 104 | ||
Pfizer Inc. | 0.800% | 5/28/25 | 100 | 96 | ||
Pfizer Inc. | 2.750% | 6/3/26 | 120 | 123 | ||
Pfizer Inc. | 3.000% | 12/15/26 | 25 | 26 | ||
Pfizer Inc. | 3.600% | 9/15/28 | 85 | 91 | ||
Pfizer Inc. | 3.450% | 3/15/29 | 160 | 169 | ||
Pfizer Inc. | 2.625% | 4/1/30 | 83 | 83 | ||
Pfizer Inc. | 1.700% | 5/28/30 | 40 | 37 | ||
Pfizer Inc. | 1.750% | 8/18/31 | 170 | 158 | ||
Pfizer Inc. | 4.000% | 12/15/36 | 110 | 122 | ||
Pfizer Inc. | 7.200% | 3/15/39 | 25 | 37 | ||
Pfizer Inc. | 2.550% | 5/28/40 | 215 | 197 | ||
Pfizer Inc. | 4.300% | 6/15/43 | 135 | 153 | ||
Pfizer Inc. | 4.400% | 5/15/44 | 115 | 132 | ||
Pfizer Inc. | 4.125% | 12/15/46 | 75 | 85 | ||
Pfizer Inc. | 4.200% | 9/15/48 | 135 | 154 | ||
Pfizer Inc. | 4.000% | 3/15/49 | 110 | 122 | ||
Pfizer Inc. | 2.700% | 5/28/50 | 130 | 118 | ||
Quest Diagnostics Inc. | 2.950% | 6/30/30 | 70 | 69 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Regeneron Pharmaceuticals Inc. | 1.750% | 9/15/30 | 120 | 107 | ||
Regeneron Pharmaceuticals Inc. | 2.800% | 9/15/50 | 95 | 78 | ||
Royalty Pharma plc | 0.750% | 9/2/23 | 103 | 101 | ||
Royalty Pharma plc | 1.200% | 9/2/25 | 80 | 76 | ||
Royalty Pharma plc | 1.750% | 9/2/27 | 85 | 80 | ||
Royalty Pharma plc | 2.200% | 9/2/30 | 30 | 27 | ||
Royalty Pharma plc | 3.300% | 9/2/40 | 20 | 18 | ||
Royalty Pharma plc | 3.550% | 9/2/50 | 160 | 139 | ||
Sanofi | 3.375% | 6/19/23 | 100 | 102 | ||
Sanofi | 3.625% | 6/19/28 | 150 | 162 | ||
Shire Acquisitions Investments Ireland DAC | 2.875% | 9/23/23 | 180 | 182 | ||
Shire Acquisitions Investments Ireland DAC | 3.200% | 9/23/26 | 90 | 92 | ||
Smith & Nephew plc | 2.032% | 10/14/30 | 105 | 95 | ||
Stryker Corp. | 3.375% | 11/1/25 | 170 | 175 | ||
Stryker Corp. | 3.500% | 3/15/26 | 75 | 78 | ||
Stryker Corp. | 1.950% | 6/15/30 | 35 | 32 | ||
Stryker Corp. | 4.625% | 3/15/46 | 125 | 143 | ||
Takeda Pharmaceutical Co. Ltd. | 4.400% | 11/26/23 | 45 | 47 | ||
Takeda Pharmaceutical Co. Ltd. | 5.000% | 11/26/28 | 295 | 333 | ||
Takeda Pharmaceutical Co. Ltd. | 2.050% | 3/31/30 | 240 | 222 | ||
Takeda Pharmaceutical Co. Ltd. | 3.025% | 7/9/40 | 170 | 154 | ||
Takeda Pharmaceutical Co. Ltd. | 3.175% | 7/9/50 | 205 | 184 | ||
Takeda Pharmaceutical Co. Ltd. | 3.375% | 7/9/60 | 60 | 53 | ||
Thermo Fisher Scientific Inc. | 0.797% | 10/18/23 | 100 | 99 | ||
Thermo Fisher Scientific Inc. | 1.215% | 10/18/24 | 220 | 215 | ||
Thermo Fisher Scientific Inc. | 2.000% | 10/15/31 | 175 | 162 | ||
Thermo Fisher Scientific Inc. | 2.800% | 10/15/41 | 125 | 115 | ||
Thermo Fisher Scientific Inc. | 4.100% | 8/15/47 | 45 | 50 | ||
UnitedHealth Group Inc. | 2.875% | 3/15/23 | 100 | 102 | ||
UnitedHealth Group Inc. | 3.500% | 6/15/23 | 25 | 26 | ||
UnitedHealth Group Inc. | 3.500% | 2/15/24 | 130 | 134 | ||
UnitedHealth Group Inc. | 0.550% | 5/15/24 | 20 | 20 | ||
UnitedHealth Group Inc. | 2.375% | 8/15/24 | 50 | 51 | ||
UnitedHealth Group Inc. | 3.750% | 7/15/25 | 80 | 84 | ||
UnitedHealth Group Inc. | 3.100% | 3/15/26 | 50 | 52 | ||
UnitedHealth Group Inc. | 1.150% | 5/15/26 | 100 | 96 | ||
UnitedHealth Group Inc. | 3.450% | 1/15/27 | 10 | 11 | ||
UnitedHealth Group Inc. | 2.950% | 10/15/27 | 100 | 103 | ||
UnitedHealth Group Inc. | 3.850% | 6/15/28 | 135 | 145 | ||
UnitedHealth Group Inc. | 3.875% | 12/15/28 | 105 | 113 | ||
UnitedHealth Group Inc. | 2.875% | 8/15/29 | 75 | 76 | ||
UnitedHealth Group Inc. | 2.000% | 5/15/30 | 150 | 142 | ||
UnitedHealth Group Inc. | 2.300% | 5/15/31 | 170 | 164 | ||
UnitedHealth Group Inc. | 4.625% | 7/15/35 | 60 | 69 | ||
UnitedHealth Group Inc. | 5.800% | 3/15/36 | 117 | 150 | ||
UnitedHealth Group Inc. | 6.875% | 2/15/38 | 155 | 221 | ||
UnitedHealth Group Inc. | 3.500% | 8/15/39 | 90 | 92 | ||
UnitedHealth Group Inc. | 4.250% | 3/15/43 | 25 | 28 | ||
UnitedHealth Group Inc. | 4.750% | 7/15/45 | 275 | 324 | ||
UnitedHealth Group Inc. | 4.200% | 1/15/47 | 130 | 143 | ||
UnitedHealth Group Inc. | 3.750% | 10/15/47 | 75 | 78 | ||
UnitedHealth Group Inc. | 4.250% | 6/15/48 | 160 | 179 | ||
UnitedHealth Group Inc. | 4.450% | 12/15/48 | 125 | 144 | ||
UnitedHealth Group Inc. | 3.700% | 8/15/49 | 50 | 52 | ||
UnitedHealth Group Inc. | 2.900% | 5/15/50 | 50 | 46 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
UnitedHealth Group Inc. | 3.250% | 5/15/51 | 195 | 189 | ||
UnitedHealth Group Inc. | 3.875% | 8/15/59 | 50 | 53 | ||
UnitedHealth Group Inc. | 3.125% | 5/15/60 | 65 | 59 | ||
2 | Universal Health Services Inc. | 2.650% | 10/15/30 | 75 | 71 | |
Utah Acquisition Sub Inc. | 3.950% | 6/15/26 | 115 | 119 | ||
Utah Acquisition Sub Inc. | 5.250% | 6/15/46 | 115 | 122 | ||
Viatris Inc. | 1.650% | 6/22/25 | 185 | 179 | ||
Viatris Inc. | 2.700% | 6/22/30 | 80 | 75 | ||
Viatris Inc. | 3.850% | 6/22/40 | 45 | 42 | ||
Viatris Inc. | 4.000% | 6/22/50 | 105 | 93 | ||
Wyeth LLC | 6.500% | 2/1/34 | 170 | 226 | ||
Wyeth LLC | 5.950% | 4/1/37 | 85 | 111 | ||
Zimmer Biomet Holdings Inc. | 1.450% | 11/22/24 | 50 | 49 | ||
Zimmer Biomet Holdings Inc. | 2.600% | 11/24/31 | 100 | 94 | ||
Zoetis Inc. | 4.500% | 11/13/25 | 50 | 53 | ||
Zoetis Inc. | 3.000% | 9/12/27 | 155 | 158 | ||
Zoetis Inc. | 2.000% | 5/15/30 | 10 | 9 | ||
Zoetis Inc. | 4.700% | 2/1/43 | 95 | 110 | ||
46,711 | ||||||
Industrials (2.4%) | ||||||
1 | 3M Co. | 3.250% | 2/14/24 | 35 | 36 | |
3M Co. | 2.000% | 2/14/25 | 60 | 60 | ||
3M Co. | 2.875% | 10/15/27 | 45 | 46 | ||
1 | 3M Co. | 3.375% | 3/1/29 | 110 | 115 | |
3M Co. | 2.375% | 8/26/29 | 100 | 98 | ||
1 | 3M Co. | 4.000% | 9/14/48 | 60 | 64 | |
3M Co. | 3.250% | 8/26/49 | 130 | 124 | ||
Amphenol Corp. | 2.800% | 2/15/30 | 105 | 103 | ||
Amphenol Corp. | 2.200% | 9/15/31 | 40 | 37 | ||
Carrier Global Corp. | 2.242% | 2/15/25 | 200 | 200 | ||
Carrier Global Corp. | 2.493% | 2/15/27 | 125 | 124 | ||
Carrier Global Corp. | 2.722% | 2/15/30 | 150 | 146 | ||
Carrier Global Corp. | 2.700% | 2/15/31 | 10 | 10 | ||
Carrier Global Corp. | 3.377% | 4/5/40 | 50 | 47 | ||
Carrier Global Corp. | 3.577% | 4/5/50 | 265 | 252 | ||
Caterpillar Financial Services Corp. | 0.250% | 3/1/23 | 60 | 59 | ||
Caterpillar Financial Services Corp. | 0.650% | 7/7/23 | 25 | 25 | ||
1 | Caterpillar Financial Services Corp. | 0.450% | 9/14/23 | 25 | 25 | |
1 | Caterpillar Financial Services Corp. | 0.950% | 1/10/24 | 80 | 79 | |
1 | Caterpillar Financial Services Corp. | 0.450% | 5/17/24 | 100 | 97 | |
1 | Caterpillar Financial Services Corp. | 2.150% | 11/8/24 | 115 | 116 | |
1 | Caterpillar Financial Services Corp. | 0.800% | 11/13/25 | 70 | 67 | |
1 | Caterpillar Financial Services Corp. | 1.100% | 9/14/27 | 95 | 89 | |
Caterpillar Inc. | 3.400% | 5/15/24 | 30 | 31 | ||
Caterpillar Inc. | 2.600% | 4/9/30 | 70 | 70 | ||
Caterpillar Inc. | 5.200% | 5/27/41 | 40 | 50 | ||
Caterpillar Inc. | 3.803% | 8/15/42 | 215 | 229 | ||
Caterpillar Inc. | 3.250% | 9/19/49 | 75 | 74 | ||
Caterpillar Inc. | 3.250% | 4/9/50 | 110 | 108 | ||
Cummins Inc. | 1.500% | 9/1/30 | 65 | 58 | ||
Deere & Co. | 3.900% | 6/9/42 | 110 | 120 | ||
Deere & Co. | 3.750% | 4/15/50 | 65 | 70 | ||
Eaton Corp. | 4.150% | 11/2/42 | 80 | 86 | ||
FedEx Corp. | 3.250% | 4/1/26 | 45 | 47 | ||
FedEx Corp. | 3.100% | 8/5/29 | 45 | 46 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
FedEx Corp. | 4.250% | 5/15/30 | 145 | 158 | ||
FedEx Corp. | 3.250% | 5/15/41 | 100 | 93 | ||
FedEx Corp. | 5.100% | 1/15/44 | 50 | 58 | ||
FedEx Corp. | 4.750% | 11/15/45 | 140 | 156 | ||
FedEx Corp. | 4.550% | 4/1/46 | 150 | 163 | ||
FedEx Corp. | 4.400% | 1/15/47 | 10 | 11 | ||
FedEx Corp. | 4.050% | 2/15/48 | 95 | 96 | ||
FedEx Corp. | 4.950% | 10/17/48 | 75 | 86 | ||
FedEx Corp. | 5.250% | 5/15/50 | 90 | 108 | ||
Fortive Corp. | 3.150% | 6/15/26 | 90 | 93 | ||
Illinois Tool Works Inc. | 2.650% | 11/15/26 | 180 | 184 | ||
Illinois Tool Works Inc. | 3.900% | 9/1/42 | 70 | 74 | ||
1 | John Deere Capital Corp. | 2.800% | 3/6/23 | 95 | 96 | |
1 | John Deere Capital Corp. | 0.450% | 1/17/24 | 60 | 59 | |
1 | John Deere Capital Corp. | 3.450% | 3/13/25 | 105 | 109 | |
1 | John Deere Capital Corp. | 0.700% | 1/15/26 | 50 | 47 | |
Otis Worldwide Corp. | 2.056% | 4/5/25 | 118 | 117 | ||
Otis Worldwide Corp. | 2.565% | 2/15/30 | 95 | 92 | ||
Parker-Hannifin Corp. | 3.250% | 6/14/29 | 40 | 41 | ||
Parker-Hannifin Corp. | 4.000% | 6/14/49 | 94 | 99 | ||
Republic Services Inc. | 2.500% | 8/15/24 | 40 | 40 | ||
Republic Services Inc. | 3.950% | 5/15/28 | 125 | 133 | ||
Republic Services Inc. | 1.750% | 2/15/32 | 30 | 27 | ||
Southwest Airlines Co. | 4.750% | 5/4/23 | 40 | 41 | ||
Southwest Airlines Co. | 5.250% | 5/4/25 | 80 | 86 | ||
Southwest Airlines Co. | 5.125% | 6/15/27 | 235 | 261 | ||
Trane Technologies Luxembourg Finance SA | 3.800% | 3/21/29 | 110 | 116 | ||
United Parcel Service Inc. | 2.500% | 4/1/23 | 50 | 51 | ||
United Parcel Service Inc. | 3.900% | 4/1/25 | 34 | 36 | ||
United Parcel Service Inc. | 3.050% | 11/15/27 | 65 | 68 | ||
United Parcel Service Inc. | 3.400% | 3/15/29 | 202 | 213 | ||
United Parcel Service Inc. | 4.450% | 4/1/30 | 67 | 76 | ||
United Parcel Service Inc. | 6.200% | 1/15/38 | 95 | 129 | ||
United Parcel Service Inc. | 3.750% | 11/15/47 | 20 | 22 | ||
United Parcel Service Inc. | 4.250% | 3/15/49 | 65 | 75 | ||
United Parcel Service Inc. | 5.300% | 4/1/50 | 170 | 228 | ||
United Rentals North America Inc. | 3.875% | 11/15/27 | 20 | 20 | ||
Waste Connections Inc. | 2.950% | 1/15/52 | 80 | 70 | ||
Waste Management Inc. | 3.150% | 11/15/27 | 45 | 46 | ||
Waste Management Inc. | 1.500% | 3/15/31 | 70 | 63 | ||
Westinghouse Air Brake Technologies Corp. | 4.400% | 3/15/24 | 25 | 26 | ||
Westinghouse Air Brake Technologies Corp. | 3.450% | 11/15/26 | 115 | 117 | ||
Westinghouse Air Brake Technologies Corp. | 4.950% | 9/15/28 | 110 | 119 | ||
WW Grainger Inc. | 4.600% | 6/15/45 | 105 | 121 | ||
7,132 | ||||||
Materials (1.6%) | ||||||
Air Products and Chemicals Inc. | 2.050% | 5/15/30 | 175 | 167 | ||
Air Products and Chemicals Inc. | 2.700% | 5/15/40 | 35 | 32 | ||
Air Products and Chemicals Inc. | 2.800% | 5/15/50 | 45 | 40 | ||
AngloGold Ashanti Holdings plc | 3.375% | 11/1/28 | 60 | 56 | ||
Berry Global Inc. | 0.950% | 2/15/24 | 165 | 161 | ||
Berry Global Inc. | 1.570% | 1/15/26 | 40 | 38 | ||
Carlisle Cos. Inc. | 2.750% | 3/1/30 | 50 | 49 | ||
CF Industries Inc. | 5.150% | 3/15/34 | 70 | 79 | ||
CF Industries Inc. | 4.950% | 6/1/43 | 65 | 70 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
CF Industries Inc. | 5.375% | 3/15/44 | 65 | 73 | ||
Dow Chemical Co. | 7.375% | 11/1/29 | 105 | 136 | ||
Dow Chemical Co. | 2.100% | 11/15/30 | 45 | 42 | ||
Dow Chemical Co. | 5.250% | 11/15/41 | 175 | 207 | ||
Dow Chemical Co. | 4.375% | 11/15/42 | 150 | 161 | ||
Dow Chemical Co. | 5.550% | 11/30/48 | 45 | 57 | ||
Dow Chemical Co. | 3.600% | 11/15/50 | 35 | 33 | ||
DuPont de Nemours Inc. | 4.205% | 11/15/23 | 215 | 223 | ||
DuPont de Nemours Inc. | 4.493% | 11/15/25 | 220 | 235 | ||
DuPont de Nemours Inc. | 4.725% | 11/15/28 | 125 | 138 | ||
DuPont de Nemours Inc. | 5.319% | 11/15/38 | 185 | 220 | ||
DuPont de Nemours Inc. | 5.419% | 11/15/48 | 140 | 176 | ||
Eagle Materials Inc. | 2.500% | 7/1/31 | 55 | 51 | ||
Eastman Chemical Co. | 4.650% | 10/15/44 | 30 | 33 | ||
Ecolab Inc. | 2.700% | 11/1/26 | 70 | 71 | ||
Ecolab Inc. | 2.700% | 12/15/51 | 90 | 79 | ||
Huntsman International LLC | 4.500% | 5/1/29 | 55 | 58 | ||
International Flavors & Fragrances Inc. | 5.000% | 9/26/48 | 85 | 97 | ||
Martin Marietta Materials Inc. | 2.400% | 7/15/31 | 90 | 85 | ||
Martin Marietta Materials Inc. | 3.200% | 7/15/51 | 40 | 36 | ||
Mosaic Co. | 4.250% | 11/15/23 | 205 | 212 | ||
Newmont Corp. | 2.250% | 10/1/30 | 110 | 103 | ||
Newmont Corp. | 2.600% | 7/15/32 | 125 | 119 | ||
Newmont Corp. | 6.250% | 10/1/39 | 55 | 71 | ||
Newmont Corp. | 4.875% | 3/15/42 | 110 | 127 | ||
Nutrien Ltd. | 4.200% | 4/1/29 | 125 | 136 | ||
Nutrien Ltd. | 5.000% | 4/1/49 | 44 | 53 | ||
PPG Industries Inc. | 3.750% | 3/15/28 | 125 | 134 | ||
Rio Tinto Alcan Inc. | 6.125% | 12/15/33 | 30 | 39 | ||
Sherwin-Williams Co. | 3.450% | 6/1/27 | 110 | 114 | ||
Sherwin-Williams Co. | 2.950% | 8/15/29 | 49 | 49 | ||
Sherwin-Williams Co. | 4.500% | 6/1/47 | 110 | 120 | ||
Suzano Austria GmbH | 6.000% | 1/15/29 | 190 | 209 | ||
Suzano Austria GmbH | 5.000% | 1/15/30 | 110 | 113 | ||
1 | Suzano Austria GmbH | 3.125% | 1/15/32 | 40 | 36 | |
Vulcan Materials Co. | 3.500% | 6/1/30 | 50 | 52 | ||
WRKCo Inc. | 4.900% | 3/15/29 | 120 | 133 | ||
4,723 | ||||||
Real Estate (2.0%) | ||||||
Alexandria Real Estate Equities Inc. | 3.375% | 8/15/31 | 85 | 87 | ||
Alexandria Real Estate Equities Inc. | 2.000% | 5/18/32 | 95 | 86 | ||
Alexandria Real Estate Equities Inc. | 1.875% | 2/1/33 | 128 | 113 | ||
Alexandria Real Estate Equities Inc. | 2.950% | 3/15/34 | 50 | 49 | ||
Alexandria Real Estate Equities Inc. | 3.000% | 5/18/51 | 35 | 31 | ||
Alexandria Real Estate Equities Inc. | 3.550% | 3/15/52 | 95 | 91 | ||
American Tower Corp. | 5.000% | 2/15/24 | 25 | 26 | ||
American Tower Corp. | 2.400% | 3/15/25 | 50 | 50 | ||
American Tower Corp. | 4.000% | 6/1/25 | 50 | 52 | ||
American Tower Corp. | 3.375% | 10/15/26 | 60 | 62 | ||
American Tower Corp. | 2.750% | 1/15/27 | 85 | 85 | ||
American Tower Corp. | 3.550% | 7/15/27 | 215 | 221 | ||
American Tower Corp. | 3.800% | 8/15/29 | 100 | 103 | ||
American Tower Corp. | 2.900% | 1/15/30 | 50 | 48 | ||
American Tower Corp. | 2.100% | 6/15/30 | 145 | 132 | ||
American Tower Corp. | 1.875% | 10/15/30 | 60 | 53 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
American Tower Corp. | 3.100% | 6/15/50 | 55 | 46 | ||
American Tower Corp. | 2.950% | 1/15/51 | 75 | 61 | ||
Boston Properties LP | 3.200% | 1/15/25 | 20 | 20 | ||
Boston Properties LP | 3.650% | 2/1/26 | 180 | 186 | ||
Boston Properties LP | 2.750% | 10/1/26 | 70 | 70 | ||
Boston Properties LP | 4.500% | 12/1/28 | 20 | 22 | ||
Boston Properties LP | 3.400% | 6/21/29 | 113 | 116 | ||
Boston Properties LP | 3.250% | 1/30/31 | 120 | 120 | ||
Boston Properties LP | 2.550% | 4/1/32 | 70 | 65 | ||
Boston Properties LP | 2.450% | 10/1/33 | 50 | 46 | ||
Brixmor Operating Partnership LP | 4.125% | 5/15/29 | 45 | 48 | ||
Brixmor Operating Partnership LP | 4.050% | 7/1/30 | 90 | 94 | ||
Camden Property Trust | 2.800% | 5/15/30 | 90 | 89 | ||
CC Holdings GS V LLC | 3.849% | 4/15/23 | 40 | 41 | ||
Crown Castle International Corp. | 3.150% | 7/15/23 | 70 | 71 | ||
Crown Castle International Corp. | 3.200% | 9/1/24 | 100 | 102 | ||
Crown Castle International Corp. | 4.450% | 2/15/26 | 50 | 53 | ||
Crown Castle International Corp. | 3.700% | 6/15/26 | 95 | 99 | ||
Crown Castle International Corp. | 1.050% | 7/15/26 | 130 | 121 | ||
Crown Castle International Corp. | 3.650% | 9/1/27 | 60 | 62 | ||
Crown Castle International Corp. | 3.800% | 2/15/28 | 180 | 187 | ||
Crown Castle International Corp. | 3.300% | 7/1/30 | 155 | 154 | ||
Crown Castle International Corp. | 2.250% | 1/15/31 | 25 | 23 | ||
Crown Castle International Corp. | 2.100% | 4/1/31 | 130 | 117 | ||
Crown Castle International Corp. | 2.900% | 4/1/41 | 105 | 90 | ||
Crown Castle International Corp. | 3.250% | 1/15/51 | 62 | 54 | ||
Digital Realty Trust LP | 3.700% | 8/15/27 | 40 | 42 | ||
Digital Realty Trust LP | 3.600% | 7/1/29 | 110 | 113 | ||
Equinix Inc. | 2.625% | 11/18/24 | 125 | 126 | ||
Equinix Inc. | 3.200% | 11/18/29 | 135 | 133 | ||
Equinix Inc. | 2.150% | 7/15/30 | 70 | 64 | ||
ERP Operating LP | 4.500% | 7/1/44 | 85 | 98 | ||
GLP Capital LP | 5.250% | 6/1/25 | 35 | 37 | ||
GLP Capital LP | 5.375% | 4/15/26 | 30 | 32 | ||
GLP Capital LP | 5.300% | 1/15/29 | 70 | 76 | ||
Healthcare Trust of America Holdings LP | 2.000% | 3/15/31 | 70 | 63 | ||
Healthpeak Properties Inc. | 3.000% | 1/15/30 | 85 | 85 | ||
1 | Host Hotels & Resorts LP | 3.500% | 9/15/30 | 62 | 61 | |
Prologis LP | 2.250% | 4/15/30 | 105 | 101 | ||
Prologis LP | 1.250% | 10/15/30 | 30 | 26 | ||
Realty Income Corp. | 3.250% | 1/15/31 | 75 | 76 | ||
Sabra Health Care LP | 3.200% | 12/1/31 | 50 | 46 | ||
Simon Property Group LP | 2.000% | 9/13/24 | 10 | 10 | ||
Simon Property Group LP | 3.375% | 10/1/24 | 100 | 103 | ||
Simon Property Group LP | 3.500% | 9/1/25 | 35 | 36 | ||
Simon Property Group LP | 3.300% | 1/15/26 | 160 | 164 | ||
Simon Property Group LP | 3.250% | 11/30/26 | 40 | 41 | ||
Simon Property Group LP | 3.375% | 6/15/27 | 35 | 36 | ||
Simon Property Group LP | 3.375% | 12/1/27 | 110 | 113 | ||
Simon Property Group LP | 2.450% | 9/13/29 | 215 | 208 | ||
Simon Property Group LP | 2.650% | 7/15/30 | 50 | 49 | ||
Simon Property Group LP | 3.250% | 9/13/49 | 78 | 72 | ||
Simon Property Group LP | 3.800% | 7/15/50 | 50 | 51 | ||
Sun Communities Operating LP | 2.700% | 7/15/31 | 130 | 122 | ||
Ventas Realty LP | 4.400% | 1/15/29 | 65 | 71 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Welltower Inc. | 3.625% | 3/15/24 | 25 | 26 | ||
Welltower Inc. | 4.000% | 6/1/25 | 6 | 6 | ||
Welltower Inc. | 4.250% | 4/15/28 | 130 | 140 | ||
Welltower Inc. | 3.100% | 1/15/30 | 115 | 115 | ||
5,988 | ||||||
Technology (13.3%) | ||||||
Adobe Inc. | 3.250% | 2/1/25 | 175 | 181 | ||
Adobe Inc. | 2.150% | 2/1/27 | 100 | 100 | ||
Adobe Inc. | 2.300% | 2/1/30 | 35 | 34 | ||
Analog Devices Inc. | 3.500% | 12/5/26 | 15 | 16 | ||
Analog Devices Inc. | 1.700% | 10/1/28 | 110 | 105 | ||
Analog Devices Inc. | 2.100% | 10/1/31 | 120 | 114 | ||
Analog Devices Inc. | 2.800% | 10/1/41 | 115 | 106 | ||
Analog Devices Inc. | 2.950% | 10/1/51 | 90 | 82 | ||
Apple Inc. | 2.400% | 5/3/23 | 400 | 405 | ||
Apple Inc. | 0.750% | 5/11/23 | 105 | 104 | ||
Apple Inc. | 3.000% | 2/9/24 | 180 | 184 | ||
Apple Inc. | 3.450% | 5/6/24 | 135 | 140 | ||
Apple Inc. | 2.850% | 5/11/24 | 168 | 172 | ||
Apple Inc. | 1.800% | 9/11/24 | 100 | 100 | ||
Apple Inc. | 2.750% | 1/13/25 | 160 | 164 | ||
Apple Inc. | 2.500% | 2/9/25 | 160 | 163 | ||
Apple Inc. | 1.125% | 5/11/25 | 60 | 59 | ||
Apple Inc. | 3.200% | 5/13/25 | 25 | 26 | ||
Apple Inc. | 0.550% | 8/20/25 | 225 | 214 | ||
Apple Inc. | 0.700% | 2/8/26 | 150 | 143 | ||
Apple Inc. | 3.250% | 2/23/26 | 440 | 459 | ||
Apple Inc. | 2.450% | 8/4/26 | 225 | 229 | ||
Apple Inc. | 2.050% | 9/11/26 | 157 | 157 | ||
Apple Inc. | 3.350% | 2/9/27 | 260 | 274 | ||
Apple Inc. | 3.200% | 5/11/27 | 175 | 183 | ||
Apple Inc. | 3.000% | 6/20/27 | 110 | 114 | ||
Apple Inc. | 2.900% | 9/12/27 | 230 | 237 | ||
Apple Inc. | 3.000% | 11/13/27 | 80 | 83 | ||
Apple Inc. | 1.200% | 2/8/28 | 70 | 66 | ||
Apple Inc. | 1.400% | 8/5/28 | 190 | 179 | ||
Apple Inc. | 2.200% | 9/11/29 | 90 | 88 | ||
Apple Inc. | 1.650% | 5/11/30 | 200 | 187 | ||
Apple Inc. | 1.250% | 8/20/30 | 25 | 23 | ||
Apple Inc. | 1.650% | 2/8/31 | 280 | 260 | ||
Apple Inc. | 1.700% | 8/5/31 | 150 | 139 | ||
Apple Inc. | 4.500% | 2/23/36 | 163 | 191 | ||
Apple Inc. | 2.375% | 2/8/41 | 55 | 49 | ||
Apple Inc. | 3.850% | 5/4/43 | 200 | 215 | ||
Apple Inc. | 4.450% | 5/6/44 | 25 | 29 | ||
Apple Inc. | 3.450% | 2/9/45 | 50 | 51 | ||
Apple Inc. | 4.375% | 5/13/45 | 110 | 128 | ||
Apple Inc. | 4.650% | 2/23/46 | 205 | 249 | ||
Apple Inc. | 3.850% | 8/4/46 | 275 | 297 | ||
Apple Inc. | 4.250% | 2/9/47 | 125 | 144 | ||
Apple Inc. | 3.750% | 9/12/47 | 165 | 176 | ||
Apple Inc. | 3.750% | 11/13/47 | 225 | 241 | ||
Apple Inc. | 2.950% | 9/11/49 | 115 | 108 | ||
Apple Inc. | 2.650% | 5/11/50 | 205 | 182 | ||
Apple Inc. | 2.400% | 8/20/50 | 205 | 173 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Apple Inc. | 2.650% | 2/8/51 | 205 | 182 | ||
Apple Inc. | 2.700% | 8/5/51 | 180 | 161 | ||
Apple Inc. | 2.550% | 8/20/60 | 100 | 83 | ||
Apple Inc. | 2.800% | 2/8/61 | 185 | 163 | ||
Apple Inc. | 2.850% | 8/5/61 | 130 | 115 | ||
Applied Materials Inc. | 3.300% | 4/1/27 | 111 | 116 | ||
Applied Materials Inc. | 1.750% | 6/1/30 | 20 | 19 | ||
Applied Materials Inc. | 4.350% | 4/1/47 | 65 | 74 | ||
Applied Materials Inc. | 2.750% | 6/1/50 | 200 | 181 | ||
Autodesk Inc. | 2.400% | 12/15/31 | 30 | 28 | ||
Automatic Data Processing Inc. | 3.375% | 9/15/25 | 130 | 136 | ||
Automatic Data Processing Inc. | 1.700% | 5/15/28 | 150 | 145 | ||
Automatic Data Processing Inc. | 1.250% | 9/1/30 | 120 | 108 | ||
Broadcom Corp. | 3.625% | 1/15/24 | 135 | 139 | ||
Broadcom Corp. | 3.875% | 1/15/27 | 80 | 83 | ||
Broadcom Corp. | 3.500% | 1/15/28 | 50 | 51 | ||
Broadcom Inc. | 4.700% | 4/15/25 | 60 | 64 | ||
Broadcom Inc. | 3.150% | 11/15/25 | 82 | 84 | ||
Broadcom Inc. | 4.250% | 4/15/26 | 140 | 148 | ||
Broadcom Inc. | 3.459% | 9/15/26 | 40 | 41 | ||
2 | Broadcom Inc. | 1.950% | 2/15/28 | 110 | 104 | |
Broadcom Inc. | 4.110% | 9/15/28 | 230 | 242 | ||
Broadcom Inc. | 4.750% | 4/15/29 | 100 | 109 | ||
Broadcom Inc. | 5.000% | 4/15/30 | 175 | 193 | ||
Broadcom Inc. | 4.150% | 11/15/30 | 185 | 194 | ||
2 | Broadcom Inc. | 2.450% | 2/15/31 | 250 | 231 | |
Broadcom Inc. | 4.300% | 11/15/32 | 175 | 184 | ||
2 | Broadcom Inc. | 2.600% | 2/15/33 | 120 | 109 | |
2 | Broadcom Inc. | 3.419% | 4/15/33 | 38 | 37 | |
2 | Broadcom Inc. | 3.469% | 4/15/34 | 70 | 68 | |
2 | Broadcom Inc. | 3.137% | 11/15/35 | 65 | 60 | |
2 | Broadcom Inc. | 3.187% | 11/15/36 | 430 | 399 | |
2 | Broadcom Inc. | 3.500% | 2/15/41 | 330 | 305 | |
2 | Broadcom Inc. | 3.750% | 2/15/51 | 270 | 252 | |
Broadridge Financial Solutions Inc. | 2.900% | 12/1/29 | 60 | 59 | ||
Broadridge Financial Solutions Inc. | 2.600% | 5/1/31 | 110 | 103 | ||
CDW LLC | 2.670% | 12/1/26 | 80 | 78 | ||
CDW LLC | 3.569% | 12/1/31 | 70 | 68 | ||
Cintas Corp. No. 2 | 3.700% | 4/1/27 | 95 | 100 | ||
Cisco Systems Inc. | 2.200% | 9/20/23 | 95 | 96 | ||
Cisco Systems Inc. | 3.625% | 3/4/24 | 120 | 125 | ||
Cisco Systems Inc. | 2.950% | 2/28/26 | 50 | 52 | ||
Cisco Systems Inc. | 2.500% | 9/20/26 | 95 | 97 | ||
Cisco Systems Inc. | 5.900% | 2/15/39 | 180 | 239 | ||
Cisco Systems Inc. | 5.500% | 1/15/40 | 115 | 148 | ||
Citrix Systems Inc. | 1.250% | 3/1/26 | 55 | 54 | ||
Citrix Systems Inc. | 4.500% | 12/1/27 | 70 | 72 | ||
Citrix Systems Inc. | 3.300% | 3/1/30 | 40 | 40 | ||
Corning Inc. | 4.375% | 11/15/57 | 130 | 137 | ||
Corning Inc. | 5.450% | 11/15/79 | 80 | 93 | ||
Dell International LLC | 5.450% | 6/15/23 | 91 | 95 | ||
Dell International LLC | 4.000% | 7/15/24 | 65 | 67 | ||
Dell International LLC | 5.850% | 7/15/25 | 205 | 225 | ||
Dell International LLC | 6.020% | 6/15/26 | 205 | 229 | ||
Dell International LLC | 4.900% | 10/1/26 | 217 | 235 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Dell International LLC | 5.300% | 10/1/29 | 100 | 112 | ||
Dell International LLC | 8.100% | 7/15/36 | 40 | 55 | ||
2 | Dell International LLC | 3.375% | 12/15/41 | 145 | 128 | |
Dell International LLC | 8.350% | 7/15/46 | 41 | 62 | ||
2 | Dell International LLC | 3.450% | 12/15/51 | 140 | 118 | |
Equifax Inc. | 2.600% | 12/1/24 | 95 | 96 | ||
Equifax Inc. | 2.350% | 9/15/31 | 110 | 101 | ||
Fidelity National Information Services Inc. | 0.375% | 3/1/23 | 25 | 25 | ||
Fidelity National Information Services Inc. | 0.600% | 3/1/24 | 150 | 146 | ||
Fidelity National Information Services Inc. | 1.150% | 3/1/26 | 105 | 99 | ||
Fidelity National Information Services Inc. | 1.650% | 3/1/28 | 185 | 171 | ||
Fidelity National Information Services Inc. | 2.250% | 3/1/31 | 40 | 37 | ||
Fidelity National Information Services Inc. | 3.100% | 3/1/41 | 60 | 54 | ||
Fiserv Inc. | 3.800% | 10/1/23 | 160 | 165 | ||
Fiserv Inc. | 2.750% | 7/1/24 | 85 | 86 | ||
Fiserv Inc. | 3.850% | 6/1/25 | 60 | 62 | ||
Fiserv Inc. | 3.200% | 7/1/26 | 135 | 138 | ||
Fiserv Inc. | 2.250% | 6/1/27 | 95 | 93 | ||
Fiserv Inc. | 4.200% | 10/1/28 | 60 | 64 | ||
Fiserv Inc. | 3.500% | 7/1/29 | 195 | 198 | ||
Fiserv Inc. | 2.650% | 6/1/30 | 100 | 95 | ||
Fiserv Inc. | 4.400% | 7/1/49 | 187 | 199 | ||
Hewlett Packard Enterprise Co. | 2.250% | 4/1/23 | 145 | 146 | ||
Hewlett Packard Enterprise Co. | 4.450% | 10/2/23 | 50 | 52 | ||
Hewlett Packard Enterprise Co. | 1.450% | 4/1/24 | 20 | 20 | ||
Hewlett Packard Enterprise Co. | 4.900% | 10/15/25 | 175 | 188 | ||
Hewlett Packard Enterprise Co. | 1.750% | 4/1/26 | 50 | 48 | ||
Hewlett Packard Enterprise Co. | 6.350% | 10/15/45 | 150 | 179 | ||
HP Inc. | 2.200% | 6/17/25 | 165 | 164 | ||
HP Inc. | 1.450% | 6/17/26 | 105 | 100 | ||
HP Inc. | 3.000% | 6/17/27 | 100 | 101 | ||
HP Inc. | 3.400% | 6/17/30 | 90 | 91 | ||
HP Inc. | 2.650% | 6/17/31 | 10 | 9 | ||
HP Inc. | 6.000% | 9/15/41 | 98 | 118 | ||
Intel Corp. | 2.875% | 5/11/24 | 60 | 61 | ||
Intel Corp. | 3.400% | 3/25/25 | 25 | 26 | ||
Intel Corp. | 3.700% | 7/29/25 | 150 | 157 | ||
Intel Corp. | 2.600% | 5/19/26 | 65 | 66 | ||
Intel Corp. | 3.750% | 3/25/27 | 75 | 80 | ||
Intel Corp. | 3.150% | 5/11/27 | 130 | 135 | ||
Intel Corp. | 1.600% | 8/12/28 | 85 | 81 | ||
Intel Corp. | 2.450% | 11/15/29 | 170 | 167 | ||
Intel Corp. | 3.900% | 3/25/30 | 160 | 173 | ||
Intel Corp. | 2.000% | 8/12/31 | 115 | 107 | ||
Intel Corp. | 4.000% | 12/15/32 | 185 | 204 | ||
Intel Corp. | 4.600% | 3/25/40 | 50 | 57 | ||
Intel Corp. | 2.800% | 8/12/41 | 110 | 99 | ||
Intel Corp. | 4.800% | 10/1/41 | 55 | 65 | ||
Intel Corp. | 4.900% | 7/29/45 | 35 | 42 | ||
Intel Corp. | 4.100% | 5/19/46 | 35 | 37 | ||
Intel Corp. | 4.100% | 5/11/47 | 155 | 165 | ||
Intel Corp. | 3.734% | 12/8/47 | 250 | 253 | ||
Intel Corp. | 3.250% | 11/15/49 | 225 | 210 | ||
Intel Corp. | 4.750% | 3/25/50 | 70 | 82 | ||
Intel Corp. | 3.050% | 8/12/51 | 110 | 99 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Intel Corp. | 3.100% | 2/15/60 | 40 | 35 | ||
Intel Corp. | 4.950% | 3/25/60 | 75 | 92 | ||
Intel Corp. | 3.200% | 8/12/61 | 90 | 80 | ||
International Business Machines Corp. | 3.375% | 8/1/23 | 150 | 154 | ||
International Business Machines Corp. | 3.625% | 2/12/24 | 110 | 114 | ||
International Business Machines Corp. | 3.000% | 5/15/24 | 215 | 220 | ||
International Business Machines Corp. | 3.450% | 2/19/26 | 163 | 170 | ||
International Business Machines Corp. | 3.300% | 5/15/26 | 195 | 203 | ||
International Business Machines Corp. | 1.700% | 5/15/27 | 55 | 53 | ||
International Business Machines Corp. | 3.500% | 5/15/29 | 265 | 277 | ||
International Business Machines Corp. | 1.950% | 5/15/30 | 145 | 136 | ||
International Business Machines Corp. | 4.150% | 5/15/39 | 130 | 139 | ||
International Business Machines Corp. | 4.000% | 6/20/42 | 95 | 100 | ||
International Business Machines Corp. | 4.250% | 5/15/49 | 230 | 253 | ||
International Business Machines Corp. | 2.950% | 5/15/50 | 80 | 72 | ||
KLA Corp. | 4.650% | 11/1/24 | 135 | 143 | ||
KLA Corp. | 4.100% | 3/15/29 | 125 | 135 | ||
KLA Corp. | 3.300% | 3/1/50 | 40 | 38 | ||
Lam Research Corp. | 3.750% | 3/15/26 | 65 | 69 | ||
Lam Research Corp. | 4.000% | 3/15/29 | 180 | 195 | ||
Lam Research Corp. | 1.900% | 6/15/30 | 15 | 14 | ||
Lam Research Corp. | 4.875% | 3/15/49 | 55 | 67 | ||
Lam Research Corp. | 2.875% | 6/15/50 | 25 | 22 | ||
Marvell Technology Inc. | 2.950% | 4/15/31 | 70 | 68 | ||
Microchip Technology Inc. | 4.333% | 6/1/23 | 229 | 236 | ||
Microchip Technology Inc. | 0.972% | 2/15/24 | 200 | 195 | ||
Micron Technology Inc. | 4.185% | 2/15/27 | 65 | 69 | ||
Micron Technology Inc. | 4.663% | 2/15/30 | 80 | 87 | ||
Microsoft Corp. | 2.375% | 5/1/23 | 165 | 167 | ||
Microsoft Corp. | 2.000% | 8/8/23 | 45 | 45 | ||
Microsoft Corp. | 3.625% | 12/15/23 | 235 | 244 | ||
Microsoft Corp. | 2.875% | 2/6/24 | 290 | 297 | ||
Microsoft Corp. | 2.700% | 2/12/25 | 165 | 169 | ||
Microsoft Corp. | 3.125% | 11/3/25 | 175 | 182 | ||
Microsoft Corp. | 2.400% | 8/8/26 | 250 | 254 | ||
Microsoft Corp. | 3.300% | 2/6/27 | 320 | 338 | ||
Microsoft Corp. | 3.500% | 2/12/35 | 215 | 232 | ||
Microsoft Corp. | 3.450% | 8/8/36 | 185 | 199 | ||
Microsoft Corp. | 4.100% | 2/6/37 | 40 | 46 | ||
Microsoft Corp. | 4.450% | 11/3/45 | 35 | 42 | ||
Microsoft Corp. | 3.700% | 8/8/46 | 181 | 196 | ||
Microsoft Corp. | 4.250% | 2/6/47 | 30 | 35 | ||
Microsoft Corp. | 2.525% | 6/1/50 | 385 | 342 | ||
Microsoft Corp. | 2.921% | 3/17/52 | 554 | 529 | ||
Microsoft Corp. | 4.500% | 2/6/57 | 85 | 106 | ||
Microsoft Corp. | 2.675% | 6/1/60 | 315 | 278 | ||
Microsoft Corp. | 3.041% | 3/17/62 | 310 | 297 | ||
Motorola Solutions Inc. | 4.600% | 5/23/29 | 75 | 81 | ||
Motorola Solutions Inc. | 2.300% | 11/15/30 | 70 | 64 | ||
Motorola Solutions Inc. | 2.750% | 5/24/31 | 50 | 47 | ||
NetApp Inc. | 1.875% | 6/22/25 | 45 | 44 | ||
NVIDIA Corp. | 0.309% | 6/15/23 | 20 | 20 | ||
NVIDIA Corp. | 0.584% | 6/14/24 | 110 | 107 | ||
NVIDIA Corp. | 3.200% | 9/16/26 | 140 | 146 | ||
NVIDIA Corp. | 1.550% | 6/15/28 | 60 | 57 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
NVIDIA Corp. | 2.850% | 4/1/30 | 85 | 86 | ||
NVIDIA Corp. | 2.000% | 6/15/31 | 60 | 56 | ||
NVIDIA Corp. | 3.500% | 4/1/40 | 120 | 123 | ||
NVIDIA Corp. | 3.500% | 4/1/50 | 155 | 159 | ||
2 | NXP BV | 4.875% | 3/1/24 | 80 | 84 | |
2 | NXP BV | 3.875% | 6/18/26 | 115 | 120 | |
2 | NXP BV | 4.300% | 6/18/29 | 95 | 101 | |
2 | NXP BV | 3.400% | 5/1/30 | 200 | 202 | |
2 | NXP BV | 2.500% | 5/11/31 | 140 | 130 | |
2 | NXP BV | 3.250% | 5/11/41 | 40 | 37 | |
Oracle Corp. | 3.625% | 7/15/23 | 180 | 185 | ||
Oracle Corp. | 2.400% | 9/15/23 | 231 | 233 | ||
Oracle Corp. | 3.400% | 7/8/24 | 235 | 241 | ||
Oracle Corp. | 2.950% | 11/15/24 | 80 | 81 | ||
Oracle Corp. | 2.500% | 4/1/25 | 255 | 254 | ||
Oracle Corp. | 2.950% | 5/15/25 | 130 | 131 | ||
Oracle Corp. | 1.650% | 3/25/26 | 125 | 120 | ||
Oracle Corp. | 2.650% | 7/15/26 | 295 | 293 | ||
Oracle Corp. | 2.800% | 4/1/27 | 245 | 244 | ||
Oracle Corp. | 3.250% | 11/15/27 | 175 | 177 | ||
Oracle Corp. | 2.300% | 3/25/28 | 160 | 152 | ||
Oracle Corp. | 2.950% | 4/1/30 | 195 | 189 | ||
Oracle Corp. | 2.875% | 3/25/31 | 150 | 143 | ||
Oracle Corp. | 4.300% | 7/8/34 | 230 | 237 | ||
Oracle Corp. | 3.900% | 5/15/35 | 35 | 34 | ||
Oracle Corp. | 3.850% | 7/15/36 | 85 | 82 | ||
Oracle Corp. | 3.800% | 11/15/37 | 210 | 200 | ||
Oracle Corp. | 6.500% | 4/15/38 | 140 | 173 | ||
Oracle Corp. | 6.125% | 7/8/39 | 75 | 90 | ||
Oracle Corp. | 3.600% | 4/1/40 | 275 | 249 | ||
Oracle Corp. | 5.375% | 7/15/40 | 275 | 302 | ||
Oracle Corp. | 3.650% | 3/25/41 | 150 | 136 | ||
Oracle Corp. | 4.500% | 7/8/44 | 110 | 109 | ||
Oracle Corp. | 4.125% | 5/15/45 | 160 | 149 | ||
Oracle Corp. | 4.000% | 7/15/46 | 280 | 257 | ||
Oracle Corp. | 4.000% | 11/15/47 | 240 | 220 | ||
Oracle Corp. | 3.600% | 4/1/50 | 396 | 344 | ||
Oracle Corp. | 3.950% | 3/25/51 | 370 | 339 | ||
Oracle Corp. | 4.375% | 5/15/55 | 170 | 162 | ||
Oracle Corp. | 3.850% | 4/1/60 | 240 | 207 | ||
Oracle Corp. | 4.100% | 3/25/61 | 40 | 36 | ||
Qorvo Inc. | 4.375% | 10/15/29 | 70 | 71 | ||
QUALCOMM Inc. | 2.900% | 5/20/24 | 25 | 26 | ||
QUALCOMM Inc. | 3.450% | 5/20/25 | 75 | 78 | ||
QUALCOMM Inc. | 3.250% | 5/20/27 | 72 | 75 | ||
QUALCOMM Inc. | 1.300% | 5/20/28 | 20 | 19 | ||
QUALCOMM Inc. | 2.150% | 5/20/30 | 265 | 254 | ||
QUALCOMM Inc. | 4.650% | 5/20/35 | 60 | 70 | ||
QUALCOMM Inc. | 4.800% | 5/20/45 | 150 | 179 | ||
QUALCOMM Inc. | 4.300% | 5/20/47 | 145 | 164 | ||
QUALCOMM Inc. | 3.250% | 5/20/50 | 125 | 123 | ||
Quanta Services Inc. | 2.900% | 10/1/30 | 70 | 67 | ||
RELX Capital Inc. | 4.000% | 3/18/29 | 105 | 112 | ||
RELX Capital Inc. | 3.000% | 5/22/30 | 85 | 85 | ||
Roper Technologies Inc. | 4.200% | 9/15/28 | 75 | 80 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Roper Technologies Inc. | 1.750% | 2/15/31 | 85 | 75 | ||
salesforce.com Inc. | 3.250% | 4/11/23 | 120 | 122 | ||
salesforce.com Inc. | 0.625% | 7/15/24 | 110 | 107 | ||
salesforce.com Inc. | 3.700% | 4/11/28 | 175 | 187 | ||
salesforce.com Inc. | 1.500% | 7/15/28 | 45 | 42 | ||
salesforce.com Inc. | 1.950% | 7/15/31 | 130 | 123 | ||
salesforce.com Inc. | 2.700% | 7/15/41 | 120 | 110 | ||
salesforce.com Inc. | 2.900% | 7/15/51 | 175 | 160 | ||
salesforce.com Inc. | 3.050% | 7/15/61 | 85 | 77 | ||
ServiceNow Inc. | 1.400% | 9/1/30 | 118 | 104 | ||
Texas Instruments Inc. | 1.375% | 3/12/25 | 180 | 177 | ||
Texas Instruments Inc. | 2.250% | 9/4/29 | 95 | 94 | ||
Texas Instruments Inc. | 1.750% | 5/4/30 | 50 | 47 | ||
Texas Instruments Inc. | 3.875% | 3/15/39 | 50 | 54 | ||
Texas Instruments Inc. | 4.150% | 5/15/48 | 150 | 170 | ||
TSMC Arizona Corp. | 1.750% | 10/25/26 | 50 | 48 | ||
TSMC Arizona Corp. | 2.500% | 10/25/31 | 125 | 119 | ||
TSMC Arizona Corp. | 3.250% | 10/25/51 | 160 | 153 | ||
Verisk Analytics Inc. | 4.000% | 6/15/25 | 81 | 84 | ||
VMware Inc. | 0.600% | 8/15/23 | 170 | 167 | ||
VMware Inc. | 1.000% | 8/15/24 | 120 | 116 | ||
VMware Inc. | 4.500% | 5/15/25 | 30 | 32 | ||
VMware Inc. | 1.400% | 8/15/26 | 115 | 109 | ||
VMware Inc. | 3.900% | 8/21/27 | 185 | 193 | ||
VMware Inc. | 1.800% | 8/15/28 | 95 | 88 | ||
VMware Inc. | 4.700% | 5/15/30 | 110 | 121 | ||
VMware Inc. | 2.200% | 8/15/31 | 50 | 46 | ||
Xilinx Inc. | 2.950% | 6/1/24 | 100 | 102 | ||
Xilinx Inc. | 2.375% | 6/1/30 | 85 | 82 | ||
39,808 | ||||||
Utilities (0.0%) | ||||||
American Water Capital Corp. | 6.593% | 10/15/37 | 62 | 83 | ||
American Water Capital Corp. | 3.750% | 9/1/47 | 50 | 50 | ||
133 | ||||||
Total Corporate Bonds (Cost $315,826) | 297,076 | |||||
Total Investments (99.2%) (Cost $315,994) | 297,244 | |||||
Other Assets and Liabilities—Net (0.8%) | 2,545 | |||||
Net Assets (100%) | 299,789 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2022, the aggregate value was $4,694,000, representing 1.6% of net assets. |
3 | Securities with a value of $26,000 have been segregated as initial margin for open futures contracts. |
4 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 28, 2022. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
5-Year U.S. Treasury Note | June 2022 | 12 | 1,419 | 7 |
Ultra 10-Year U.S. Treasury Note | June 2022 | 11 | 1,555 | 15 |
22 | ||||
Short Futures Contracts | ||||
2-Year U.S. Treasury Note | June 2022 | (2) | (430) | (1) |
10-Year U.S. Treasury Note | June 2022 | (3) | (382) | (3) |
Long U.S. Treasury Bond | June 2022 | (1) | (157) | (2) |
Ultra Long U.S. Treasury Bond | June 2022 | (4) | (744) | (9) |
(15) | ||||
7 |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value—Unaffiliated Issuers (Cost $315,994) | 297,244 |
Investment in Vanguard | 10 |
Cash | 618 |
Receivables for Investment Securities Sold | 1,564 |
Receivables for Accrued Income | 2,662 |
Variation Margin Receivable—Futures Contracts | 2 |
Total Assets | 302,100 |
Liabilities | |
Payables for Investment Securities Purchased | 2,298 |
Payables to Vanguard | 13 |
Total Liabilities | 2,311 |
Net Assets | 299,789 |
At February 28, 2022, net assets consisted of: | |
Paid-in Capital | 318,272 |
Total Distributable Earnings (Loss) | (18,483) |
Net Assets | 299,789 |
Net Assets | |
Applicable to 4,300,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 299,789 |
Net Asset Value Per Share | $69.72 |
Six Months Ended February 28, 2022 | |
($000) | |
Investment Income | |
Income | |
Interest | 2,648 |
Total Income | 2,648 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 3 |
Management and Administrative | 136 |
Marketing and Distribution | 5 |
Custodian Fees | 6 |
Shareholders’ Reports | 6 |
Trustees’ Fees and Expenses | — |
Other Expenses | 2 |
Total Expenses | 158 |
Net Investment Income | 2,490 |
Realized Net Gain (Loss) | |
Investment Securities Sold | (116) |
Futures Contracts | (5) |
Realized Net Gain (Loss) | (121) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities | (20,423) |
Futures Contracts | 1 |
Change in Unrealized Appreciation (Depreciation) | (20,422) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (18,053) |
Six Months Ended February 28, 2022 | September 22, 20201 to August 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 2,490 | 1,987 | |
Realized Net Gain (Loss) | (121) | (97) | |
Change in Unrealized Appreciation (Depreciation) | (20,422) | 1,679 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (18,053) | 3,569 | |
Distributions | |||
Total Distributions | (2,326) | (1,673) | |
Capital Share Transactions | |||
Issued | 103,073 | 215,199 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | — | — | |
Net Increase (Decrease) from Capital Share Transactions | 103,073 | 215,199 | |
Total Increase (Decrease) | 82,694 | 217,095 | |
Net Assets | |||
Beginning of Period | 217,095 | — | |
End of Period | 299,789 | 217,095 |
1 | Inception. |
Six Months Ended February 28, 2022 | September 22 20201 to August 31, 2021 | |
For a Share Outstanding Throughout Each Period | ||
Net Asset Value, Beginning of Period | $74.86 | $75.00 |
Investment Operations | ||
Net Investment Income2 | .686 | 1.211 |
Net Realized and Unrealized Gain (Loss) on Investments | (5.163) | (.330) |
Total from Investment Operations | (4.477) | .881 |
Distributions | ||
Dividends from Net Investment Income | (.663) | (1.021) |
Distributions from Realized Capital Gains | — | — |
Total Distributions | (.663) | (1.021) |
Net Asset Value, End of Period | $69.72 | $74.86 |
Total Return | -6.02% | 1.20% |
Ratios/Supplemental Data | ||
Net Assets, End of Period (Millions) | $300 | $217 |
Ratio of Total Expenses to Average Net Assets | 0.12% | 0.12%3 |
Ratio of Net Investment Income to Average Net Assets | 1.90% | 1.74%3 |
Portfolio Turnover Rate4 | 11% | 24% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Inception. |
2 | Calculated based on average shares outstanding. |
3 | Annualized. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 168 | — | 168 |
Corporate Bonds | — | 297,076 | — | 297,076 |
Total | — | 297,244 | — | 297,244 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 22 | — | — | 22 |
Liabilities | ||||
Futures Contracts1 | 15 | — | — | 15 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Tax Cost | 315,994 |
Gross Unrealized Appreciation | 46 |
Gross Unrealized Depreciation | (18,789) |
Net Unrealized Appreciation (Depreciation) | (18,743) |
Six Months Ended February 28, 2022 | September 22, 20201 to August 31, 2021 | ||
Shares (000) | Shares (000) | ||
Issued | 1,400 | 2,900 | |
Issued in Lieu of Cash Distributions | — | — | |
Redeemed | — | — | |
Net Increase (Decrease) in Shares Outstanding | 1,400 | 2,900 |
1 | Inception. |
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All rights reserved.
Vanguard Marketing Corporation, Distributor.
Item 2: Code of Ethics.
Not applicable.
Item 3: Audit Committee Financial Expert.
Not applicable.
Item 4: Principal Accountant Fees and Services.
Not applicable.
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Investments.
Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
(a)(1) | Not applicable. |
(a)(2) | Certifications filed herewith. |
(b) | Certifications filed herewith. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
VANGUARD WORLD FUND | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: April 20, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
VANGUARD WORLD FUND | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: April 20, 2022
VANGUARD WORLD FUND | ||
BY: | /s/ CHRISTINE BUCHANAN* | |
CHRISTINE BUCHANAN | ||
CHIEF FINANCIAL OFFICER |
Date: April 20, 2022
* By: /s/ Anne E. Robinson
Anne E. Robinson, pursuant to a Power of Attorney filed on November 29, 2021 (see File Number 33-64845), a Power of Attorney filed on October 12, 2021 (see File Number 33-23444), and a Power of Attorney filed on August 26, 2021 (see file Number 811-02652), Incorporated by Reference.