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: 811-04526
Name of Registrant: | Vanguard Quantitative Funds |
Address of Registrant: | P.O. Box 2600 |
Valley Forge, PA 19482 |
Name and address of agent for service: | Anne E. Robinson, Esquire |
P.O. Box 876 | |
Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: September 30
Date of reporting period: October 1, 2021—March 31, 2022
Item 1: Reports to Shareholders
About Your Fund’s Expenses | 1 |
Financial Statements | 4 |
Liquidity Risk Management | 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 March 31, 2022 | |||
Beginning Account Value 9/30/2021 | Ending Account Value 3/31/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Growth and Income Fund | |||
Investor Shares | $1,000.00 | $1,070.20 | $1.60 |
Admiral™ Shares | 1,000.00 | 1,070.80 | 1.08 |
Based on Hypothetical 5% Yearly Return | |||
Growth and Income Fund | |||
Investor Shares | $1,000.00 | $1,023.39 | $1.56 |
Admiral Shares | 1,000.00 | 1,023.88 | 1.06 |
Communication Services | 9.1% |
Consumer Discretionary | 12.8 |
Consumer Staples | 6.1 |
Energy | 5.1 |
Financials | 10.9 |
Health Care | 14.1 |
Industrials | 7.2 |
Information Technology | 28.2 |
Materials | 2.0 |
Real Estate | 2.6 |
Utilities | 1.7 |
Other | 0.2 |
Shares | Market Value• ($000) | ||
Common Stocks (97.3%) | |||
Communication Services (8.9%) | |||
* | Alphabet Inc. Class A | 111,866 | 311,138 |
* | Alphabet Inc. Class C | 110,234 | 307,882 |
* | Meta Platforms Inc. Class A | 775,655 | 172,475 |
AT&T Inc. | 3,038,209 | 71,793 | |
Verizon Communications Inc. | 1,177,403 | 59,977 | |
Comcast Corp. Class A | 1,220,517 | 57,145 | |
* | Netflix Inc. | 55,100 | 20,640 |
Activision Blizzard Inc. | 245,100 | 19,635 | |
Interpublic Group of Cos. Inc. | 466,844 | 16,550 | |
News Corp. Class A | 698,294 | 15,467 | |
News Corp. Class B | 601,102 | 13,537 | |
Omnicom Group Inc. | 147,000 | 12,477 | |
Lumen Technologies Inc. | 879,612 | 9,913 | |
* | Walt Disney Co. | 67,435 | 9,249 |
Fox Corp. Class A | 233,110 | 9,196 | |
Fox Corp. Class B | 235,775 | 8,554 | |
Electronic Arts Inc. | 48,300 | 6,110 | |
Paramount Global Class B | 158,000 | 5,974 | |
* | Twitter Inc. | 128,800 | 4,983 |
* | Take-Two Interactive Software Inc. | 32,148 | 4,942 |
* | Yelp Inc. Class A | 66,300 | 2,261 |
* | Frontier Communications Parent Inc. | 66,700 | 1,846 |
* | DISH Network Corp. Class A | 45,700 | 1,446 |
* | Pinterest Inc. Class A | 52,800 | 1,299 |
* | Liberty Global plc Class C | 44,800 | 1,161 |
* | Gogo Inc. | 58,600 | 1,117 |
* | Charter Communications Inc. Class A | 1,565 | 854 |
* | Live Nation Entertainment Inc. | 6,974 | 820 |
* | AMC Networks Inc. Class A | 17,400 | 707 |
* | Discovery Inc. Class A | 20,100 | 501 |
* | Snap Inc. Class A | 10,500 | 378 |
* | Iridium Communications Inc. | 9,300 | 375 |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 7,700 | 352 |
* | Endeavor Group Holdings Inc. Class A | 10,500 | 310 |
Shares | Market Value• ($000) | ||
Warner Music Group Corp. Class A | 6,700 | 254 | |
* | Cars.com Inc. | 17,200 | 248 |
* | QuinStreet Inc. | 11,700 | 136 |
* | Spotify Technology SA | 900 | 136 |
* | Sciplay Corp. Class A | 7,812 | 101 |
* | Bumble Inc. Class A | 3,414 | 99 |
* | WideOpenWest Inc. | 4,900 | 85 |
* | Loyalty Ventures Inc. | 4,700 | 78 |
* | Liberty Media Corp.- Liberty Formula One Class A | 1,209 | 76 |
* | Travelzoo | 11,583 | 76 |
* | Integral Ad Science Holding Corp. | 4,400 | 61 |
Entravision Communications Corp. Class A | 7,658 | 49 | |
* | Consolidated Communications Holdings Inc. | 6,252 | 37 |
* | Urban One Inc. | 5,947 | 31 |
* | Vimeo Inc. | 2,500 | 30 |
New York Times Co. Class A | 600 | 27 | |
* | Hemisphere Media Group Inc. Class A | 5,550 | 25 |
* | ZipRecruiter Inc. Class A | 1,100 | 25 |
* | PubMatic Inc. Class A | 800 | 21 |
* | Thryv Holdings Inc. | 500 | 14 |
Spok Holdings Inc. | 1,322 | 11 | |
* | Zedge Inc. Class B | 1,100 | 7 |
* | Anterix Inc. | 99 | 6 |
* | Liberty Latin America Ltd. Class A | 600 | 6 |
* | T-Mobile US Inc. | 20 | 3 |
* | US Cellular Corp. | 99 | 3 |
* | DHI Group Inc. | 302 | 2 |
* | EverQuote Inc. Class A | 100 | 2 |
Scholastic Corp. | 40 | 2 | |
TEGNA Inc. | 82 | 2 | |
* | Clear Channel Outdoor Holdings Inc. | 300 | 1 |
* | Lions Gate Entertainment Corp. Class B | 100 | 1 |
National CineMedia Inc. | 300 | 1 | |
Sinclair Broadcast Group Inc. Class A | 50 | 1 | |
* | TrueCar Inc. | 300 | 1 |
* | Zynga Inc. Class A | 100 | 1 |
Shares | Market Value• ($000) | ||
* | Angi Inc. Class A | 100 | 1 |
* | Gannett Co. Inc. | 208 | 1 |
Manchester United plc Class A | 40 | 1 | |
* | Stagwell Inc. | 200 | 1 |
* | Fluent Inc. | 99 | — |
* | Liberty TripAdvisor Holdings Inc. Class A | 100 | — |
* | Emerald Holding Inc. | 11 | — |
* | Magnite Inc. | 26 | — |
*,1 | Yandex NV Class A | 23,500 | — |
* | Eros STX Global Corp. | 10 | — |
1,152,727 | |||
Consumer Discretionary (12.5%) | |||
* | Amazon.com Inc. | 123,849 | 403,742 |
* | Tesla Inc. | 285,506 | 307,661 |
McDonald's Corp. | 438,032 | 108,317 | |
Lowe's Cos. Inc. | 484,684 | 97,998 | |
Target Corp. | 343,289 | 72,853 | |
Ford Motor Co. | 2,977,768 | 50,354 | |
Starbucks Corp. | 394,355 | 35,874 | |
* | O'Reilly Automotive Inc. | 51,996 | 35,615 |
Home Depot Inc. | 112,705 | 33,736 | |
* | Booking Holdings Inc. | 13,444 | 31,573 |
Yum! Brands Inc. | 261,627 | 31,011 | |
* | AutoZone Inc. | 14,068 | 28,763 |
TJX Cos. Inc. | 451,810 | 27,371 | |
Tapestry Inc. | 713,813 | 26,518 | |
Bath & Body Works Inc. | 553,351 | 26,450 | |
LKQ Corp. | 516,389 | 23,449 | |
PulteGroup Inc. | 555,036 | 23,256 | |
NIKE Inc. Class B | 169,955 | 22,869 | |
eBay Inc. | 378,382 | 21,666 | |
Lennar Corp. Class A | 230,963 | 18,747 | |
* | Expedia Group Inc. | 91,788 | 17,960 |
Dollar General Corp. | 65,880 | 14,667 | |
PVH Corp. | 160,541 | 12,299 | |
Advance Auto Parts Inc. | 51,390 | 10,636 | |
* | General Motors Co. | 237,700 | 10,397 |
DR Horton Inc. | 107,612 | 8,018 | |
* | Ulta Beauty Inc. | 20,027 | 7,975 |
* | Under Armour Inc. Class C | 450,468 | 7,009 |
* | Marriott International Inc. Class A | 37,800 | 6,643 |
Domino's Pizza Inc. | 13,197 | 5,371 | |
* | Hilton Worldwide Holdings Inc. | 33,200 | 5,038 |
Best Buy Co. Inc. | 54,000 | 4,909 | |
Harley-Davidson Inc. | 120,500 | 4,748 | |
* | Under Armour Inc. Class A | 247,500 | 4,212 |
Ross Stores Inc. | 42,820 | 3,873 | |
Tractor Supply Co. | 16,353 | 3,816 | |
* | Las Vegas Sands Corp. | 94,500 | 3,673 |
Travel + Leisure Co. | 63,300 | 3,668 | |
MGM Resorts International | 84,043 | 3,525 | |
Magna International Inc. | 53,800 | 3,460 | |
* | Overstock.com Inc. | 74,600 | 3,283 |
Newell Brands Inc. | 148,800 | 3,186 | |
* | NVR Inc. | 641 | 2,864 |
Genuine Parts Co. | 21,900 | 2,760 | |
Signet Jewelers Ltd. | 35,800 | 2,603 | |
Whirlpool Corp. | 14,000 | 2,419 | |
* | GoPro Inc. Class A | 274,388 | 2,341 |
Shares | Market Value• ($000) | ||
Dick's Sporting Goods Inc. | 22,500 | 2,250 | |
* | Mohawk Industries Inc. | 17,500 | 2,173 |
Academy Sports & Outdoors Inc. | 46,700 | 1,840 | |
* | Victoria's Secret & Co. | 35,700 | 1,834 |
Hanesbrands Inc. | 116,500 | 1,735 | |
* | AutoNation Inc. | 16,000 | 1,593 |
2 | Camping World Holdings Inc. Class A | 55,200 | 1,543 |
Kohl's Corp. | 17,200 | 1,040 | |
* | Penn National Gaming Inc. | 24,480 | 1,038 |
Shutterstock Inc. | 9,900 | 921 | |
* | Dollar Tree Inc. | 5,400 | 865 |
* | Vista Outdoor Inc. | 22,500 | 803 |
Penske Automotive Group Inc. | 8,200 | 769 | |
Qurate Retail Inc. Series A | 148,800 | 708 | |
* | Stride Inc. | 18,488 | 672 |
* | Farfetch Ltd. Class A | 42,400 | 641 |
Garmin Ltd. | 5,002 | 593 | |
Kontoor Brands Inc. | 13,200 | 546 | |
Acushnet Holdings Corp. | 13,500 | 544 | |
Churchill Downs Inc. | 2,400 | 532 | |
Dillard's Inc. Class A | 1,900 | 510 | |
* | Revolve Group Inc. | 9,500 | 510 |
Service Corp. International | 6,700 | 441 | |
Gentex Corp. | 14,700 | 429 | |
Levi Strauss & Co. Class A | 21,508 | 425 | |
Foot Locker Inc. | 14,300 | 424 | |
Bloomin' Brands Inc. | 17,900 | 393 | |
Red Rock Resorts Inc. Class A | 7,600 | 369 | |
* | frontdoor Inc. | 10,600 | 316 |
* | Abercrombie & Fitch Co. Class A | 9,600 | 307 |
Williams-Sonoma Inc. | 2,100 | 304 | |
Winnebago Industries Inc. | 5,200 | 281 | |
* | Sleep Number Corp. | 5,400 | 274 |
Sonic Automotive Inc. Class A | 6,100 | 259 | |
Polaris Inc. | 2,159 | 227 | |
Papa John's International Inc. | 2,000 | 211 | |
Rent-A-Center Inc. | 8,200 | 207 | |
* | Chegg Inc. | 5,600 | 203 |
* | Accel Entertainment Inc. Class A | 15,600 | 190 |
Dine Brands Global Inc. | 2,400 | 187 | |
Laureate Education Inc. Class A | 15,300 | 181 | |
H&R Block Inc. | 6,800 | 177 | |
* | GrowGeneration Corp. | 16,300 | 150 |
* | Conn's Inc. | 8,814 | 136 |
* | Tupperware Brands Corp. | 6,900 | 134 |
* | Terminix Global Holdings Inc. | 2,700 | 123 |
* | LL Flooring Holdings Inc. | 8,600 | 121 |
Macy's Inc. | 4,500 | 110 | |
* | Fossil Group Inc. | 10,095 | 97 |
* | Sally Beauty Holdings Inc. | 5,700 | 89 |
Brunswick Corp. | 1,000 | 81 | |
* | Dave & Buster's Entertainment Inc. | 1,500 | 74 |
Shares | Market Value• ($000) | ||
* | 2U Inc. | 5,200 | 69 |
* | American Outdoor Brands Inc. | 5,173 | 68 |
* | Luminar Technologies Inc. Class A | 4,113 | 64 |
Thor Industries Inc. | 800 | 63 | |
* | Canada Goose Holdings Inc. | 2,100 | 55 |
Columbia Sportswear Co. | 600 | 54 | |
* | Duluth Holdings Inc. Class B | 4,068 | 50 |
* | Perdoceo Education Corp. | 4,134 | 47 |
* | Party City Holdco Inc. | 12,700 | 45 |
* | Modine Manufacturing Co. | 4,800 | 43 |
* | Skyline Champion Corp. | 718 | 39 |
* | iRobot Corp. | 600 | 38 |
* | Universal Electronics Inc. | 1,082 | 34 |
Hamilton Beach Brands Holding Co. Class A | 2,767 | 32 | |
* | Neogames SA | 2,088 | 32 |
2 | Guess? Inc. | 1,300 | 28 |
Vail Resorts Inc. | 100 | 26 | |
* | Cooper-Standard Holdings Inc. | 2,800 | 25 |
* | WW International Inc. | 2,200 | 23 |
PetMed Express Inc. | 847 | 22 | |
* | OneSpaWorld Holdings Ltd. | 2,160 | 22 |
* | Quotient Technology Inc. | 2,900 | 18 |
* | Superior Industries International Inc. | 3,803 | 18 |
Graham Holdings Co. Class B | 28 | 17 | |
* | Airbnb Inc. Class A | 100 | 17 |
* | Full House Resorts Inc. | 1,400 | 13 |
* | Lindblad Expeditions Holdings Inc. | 700 | 11 |
OneWater Marine Inc. Class A | 300 | 10 | |
* | Cavco Industries Inc. | 38 | 9 |
Texas Roadhouse Inc. Class A | 100 | 8 | |
* | Container Store Group Inc. | 800 | 7 |
* | Hilton Grand Vacations Inc. | 131 | 7 |
Sturm Ruger & Co. Inc. | 94 | 7 | |
Choice Hotels International Inc. | 42 | 6 | |
* | Everi Holdings Inc. | 300 | 6 |
Johnson Outdoors Inc. Class A | 81 | 6 | |
* | Sonos Inc. | 200 | 6 |
International Game Technology plc | 193 | 5 | |
* | Royal Caribbean Cruises Ltd. | 54 | 5 |
Jack in the Box Inc. | 41 | 4 | |
* | Aptiv plc | 30 | 4 |
* | Veoneer Inc. | 98 | 4 |
* | Biglari Holdings Inc. Class B | 20 | 3 |
* | Designer Brands Inc. Class A | 196 | 3 |
Tilly's Inc. Class A | 350 | 3 | |
* | ODP Corp. | 75 | 3 |
Cato Corp. Class A | 127 | 2 |
Shares | Market Value• ($000) | ||
Leggett & Platt Inc. | 53 | 2 | |
* | Master Craft Boat Holdings Inc. | 100 | 2 |
* | Target Hospitality Corp. | 388 | 2 |
* | Tenneco Inc. Class A | 100 | 2 |
ADT Inc. | 200 | 2 | |
Smith & Wesson Brands Inc. | 100 | 2 | |
* | Bluegreen Vacations Holding Class A | 60 | 2 |
* | Poshmark Inc. Class A | 170 | 2 |
Arcos Dorados Holdings Inc. Class A | 196 | 2 | |
* | Adtalem Global Education Inc. | 39 | 1 |
* | Barnes & Noble Education Inc. | 178 | 1 |
Carrols Restaurant Group Inc. | 229 | 1 | |
Clarus Corp. | 31 | 1 | |
* | El Pollo Loco Holdings Inc. | 93 | 1 |
* | Express Inc. | 200 | 1 |
Gap Inc. | 100 | 1 | |
* | Mattel Inc. | 44 | 1 |
* | Noodles & Co. Class A | 100 | 1 |
* | Regis Corp. | 300 | 1 |
* | Urban Outfitters Inc. | 39 | 1 |
* | Vera Bradley Inc. | 100 | 1 |
Bassett Furniture Industries Inc. | 71 | 1 | |
* | Sportsman's Warehouse Holdings Inc. | 107 | 1 |
* | Greenlane Holdings Inc. Class A | 1,600 | 1 |
* | Inspired Entertainment Inc. | 101 | 1 |
* | J Jill Inc. | 40 | 1 |
* | Despegar.com Corp. | 99 | 1 |
* | Yatra Online Inc. | 400 | 1 |
* | JAKKS Pacific Inc. | 100 | 1 |
* | Mister Car Wash Inc. | 100 | 1 |
*,2 | Arrival SA | 300 | 1 |
* | American Axle & Manufacturing Holdings Inc. | 10 | — |
* | American Public Education Inc. | 2 | — |
Big 5 Sporting Goods Corp. | 16 | — | |
* | Visteon Corp. | 4 | — |
* | Kandi Technologies Group Inc. | 34 | — |
* | Vizio Holding Corp. Class A | 38 | — |
1,620,877 | |||
Consumer Staples (5.9%) | |||
Procter & Gamble Co. | 823,274 | 125,796 | |
Walmart Inc. | 624,290 | 92,969 | |
Costco Wholesale Corp. | 157,912 | 90,934 | |
Coca-Cola Co. | 1,186,081 | 73,537 | |
Tyson Foods Inc. Class A | 647,585 | 58,043 | |
Altria Group Inc. | 795,283 | 41,554 | |
Philip Morris International Inc. | 369,849 | 34,744 | |
Archer-Daniels-Midland Co. | 368,622 | 33,272 | |
Colgate-Palmolive Co. | 383,480 | 29,079 |
Shares | Market Value• ($000) | ||
Estee Lauder Cos. Inc. Class A | 99,021 | 26,965 | |
Kraft Heinz Co. | 656,630 | 25,865 | |
PepsiCo Inc. | 146,185 | 24,468 | |
Kroger Co. | 369,886 | 21,220 | |
Hershey Co. | 97,926 | 21,214 | |
* | Monster Beverage Corp. | 127,680 | 10,202 |
General Mills Inc. | 136,348 | 9,233 | |
J M Smucker Co. | 45,000 | 6,093 | |
Kellogg Co. | 90,950 | 5,865 | |
Conagra Brands Inc. | 157,300 | 5,281 | |
Campbell Soup Co. | 116,500 | 5,192 | |
Molson Coors Beverage Co. Class B | 94,674 | 5,054 | |
Constellation Brands Inc. Class A | 19,694 | 4,536 | |
Hormel Foods Corp. | 80,300 | 4,139 | |
Keurig Dr Pepper Inc. | 102,177 | 3,873 | |
Mondelez International Inc. Class A | 51,155 | 3,212 | |
Albertsons Cos. Inc. Class A | 90,400 | 3,006 | |
Brown-Forman Corp. Class B | 23,800 | 1,595 | |
* | Pilgrim's Pride Corp. | 53,900 | 1,353 |
Clorox Co. | 6,700 | 931 | |
Flowers Foods Inc. | 32,500 | 836 | |
Vector Group Ltd. | 30,300 | 365 | |
* | Nomad Foods Ltd. | 15,800 | 357 |
Walgreens Boots Alliance Inc. | 7,100 | 318 | |
* | USANA Health Sciences Inc. | 3,250 | 258 |
Coca-Cola Consolidated Inc. | 500 | 248 | |
* | United Natural Foods Inc. | 5,600 | 232 |
National Beverage Corp. | 3,900 | 170 | |
Kimberly-Clark Corp. | 1,300 | 160 | |
Sysco Corp. | 1,700 | 139 | |
* | Hostess Brands Inc. Class A | 5,000 | 110 |
* | BJ's Wholesale Club Holdings Inc. | 1,196 | 81 |
* | SunOpta Inc. | 11,100 | 56 |
* | Lifevantage Corp. | 4,187 | 20 |
* | Blue Apron Holdings Inc. Class A | 1,600 | 6 |
Lamb Weston Holdings Inc. | 86 | 5 | |
McCormick & Co. Inc. | 40 | 4 | |
Calavo Growers Inc. | 93 | 3 | |
* | Simply Good Foods Co. | 79 | 3 |
* | Nature's Sunshine Products Inc. | 178 | 3 |
PriceSmart Inc. | 28 | 2 | |
* | Adecoagro SA | 184 | 2 |
* | Herbalife Nutrition Ltd. | 45 | 1 |
* | Veru Inc. | 300 | 1 |
* | Zevia PBC Class A | 263 | 1 |
Cal-Maine Foods Inc. | 9 | — | |
772,606 | |||
Energy (4.9%) | |||
Exxon Mobil Corp. | 1,763,771 | 145,670 | |
Chevron Corp. | 808,757 | 131,690 | |
EOG Resources Inc. | 519,567 | 61,948 | |
APA Corp. | 925,508 | 38,251 | |
Halliburton Co. | 843,207 | 31,932 |
Shares | Market Value• ($000) | ||
ConocoPhillips | 294,446 | 29,445 | |
Schlumberger NV | 678,159 | 28,015 | |
Marathon Petroleum Corp. | 325,090 | 27,795 | |
Occidental Petroleum Corp. | 394,936 | 22,409 | |
Kinder Morgan Inc. | 1,151,546 | 21,776 | |
Phillips 66 | 228,789 | 19,765 | |
ONEOK Inc. | 183,350 | 12,950 | |
Baker Hughes Co. Class A | 327,950 | 11,941 | |
Hess Corp. | 90,494 | 9,686 | |
Marathon Oil Corp. | 349,483 | 8,775 | |
Valero Energy Corp. | 78,118 | 7,932 | |
Diamondback Energy Inc. | 53,490 | 7,332 | |
Pioneer Natural Resources Co. | 21,700 | 5,426 | |
Williams Cos. Inc. | 115,480 | 3,858 | |
Ovintiv Inc. (XNYS) | 67,600 | 3,655 | |
* | Antero Resources Corp. | 68,701 | 2,097 |
* | Southwestern Energy Co. | 206,500 | 1,481 |
EQT Corp. | 36,800 | 1,266 | |
* | HF Sinclair Corp. | 20,800 | 829 |
* | CNX Resources Corp. | 39,900 | 827 |
Equitrans Midstream Corp. | 87,400 | 738 | |
* | Comstock Resources Inc. | 46,700 | 609 |
* | Green Plains Inc. | 18,000 | 558 |
* | Range Resources Corp. | 15,600 | 474 |
* | Transocean Ltd. (XNYS) | 101,100 | 462 |
Targa Resources Corp. | 4,400 | 332 | |
Arch Resources Inc. | 1,700 | 234 | |
* | Oceaneering International Inc. | 14,200 | 215 |
* | Denbury Inc. | 1,900 | 149 |
Continental Resources Inc. | 2,400 | 147 | |
Texas Pacific Land Corp. | 85 | 115 | |
Cameco Corp. | 3,600 | 105 | |
Geopark Ltd. | 5,205 | 78 | |
* | Alto Ingredients Inc. | 7,700 | 52 |
Antero Midstream Corp. | 4,200 | 46 | |
* | SandRidge Energy Inc. | 2,800 | 45 |
Magnolia Oil & Gas Corp. Class A | 1,800 | 43 | |
* | Teekay Corp. | 11,485 | 36 |
Civitas Resources Inc. | 600 | 36 | |
* | Clean Energy Fuels Corp. | 3,100 | 25 |
* | Centrus Energy Corp. Class A | 700 | 24 |
Oasis Petroleum Inc. | 100 | 15 | |
* | Callon Petroleum Co. | 200 | 12 |
* | Noble Corp. | 300 | 10 |
Chesapeake Energy Corp. | 74 | 6 | |
Coterra Energy Inc. | 200 | 5 | |
NACCO Industries Inc. Class A | 111 | 4 | |
California Resources Corp. | 100 | 4 | |
* | Energy Fuels Inc. | 295 | 3 |
Murphy Oil Corp. | 73 | 3 | |
* | Kosmos Energy Ltd. | 377 | 3 |
* | Amplify Energy Corp. | 300 | 2 |
Brigham Minerals Inc. Class A | 95 | 2 | |
* | Centennial Resource Development Inc. Class A | 200 | 2 |
Patterson-UTI Energy Inc. | 100 | 2 |
Shares | Market Value• ($000) | ||
* | Talos Energy Inc. | 100 | 2 |
* | TETRA Technologies Inc. | 400 | 2 |
International Seaways Inc. | 108 | 2 | |
* | TechnipFMC plc | 200 | 2 |
Cenovus Energy Inc. | 100 | 2 | |
* | Navigator Holdings Ltd. | 188 | 2 |
Archrock Inc. | 100 | 1 | |
Evolution Petroleum Corp. | 100 | 1 | |
* | Helix Energy Solutions Group Inc. | 146 | 1 |
* | Natural Gas Services Group Inc. | 100 | 1 |
* | Overseas Shipholding Group Inc. Class A | 400 | 1 |
* | Par Pacific Holdings Inc. | 108 | 1 |
* | ProPetro Holding Corp. | 100 | 1 |
* | RPC Inc. | 100 | 1 |
* | Ring Energy Inc. | 200 | 1 |
Solaris Oilfield Infrastructure Inc. Class A | 100 | 1 | |
* | Uranium Energy Corp. | 119 | 1 |
* | NexTier Oilfield Solutions Inc. | 95 | 1 |
Dorian LPG Ltd. | 100 | 1 | |
Plains GP Holdings LP Class A | 100 | 1 | |
Northern Oil and Gas Inc. | 40 | 1 | |
NOV Inc. | 38 | 1 | |
* | Exterran Corp. | 79 | — |
* | Newpark Resources Inc. | 137 | — |
Nordic American Tankers Ltd. | 100 | — | |
* | Independence Contract Drilling Inc. | 100 | — |
* | Expro Group Holdings NV | 16 | — |
641,375 | |||
Financials (10.6%) | |||
* | Berkshire Hathaway Inc. Class B | 535,457 | 188,968 |
JPMorgan Chase & Co. | 1,148,144 | 156,515 | |
Bank of America Corp. | 2,248,193 | 92,671 | |
Wells Fargo & Co. | 1,308,767 | 63,423 | |
Intercontinental Exchange Inc. | 388,005 | 51,263 | |
Everest Re Group Ltd. | 158,228 | 47,687 | |
Goldman Sachs Group Inc. | 126,148 | 41,641 | |
Capital One Financial Corp. | 280,265 | 36,796 | |
Discover Financial Services | 326,189 | 35,943 | |
Synchrony Financial | 946,556 | 32,950 | |
Citigroup Inc. | 607,651 | 32,449 | |
W R Berkley Corp. | 481,544 | 32,066 | |
Cboe Global Markets Inc. | 243,002 | 27,804 | |
Morgan Stanley | 310,639 | 27,150 | |
US Bancorp | 472,715 | 25,125 | |
American Express Co. | 125,992 | 23,561 | |
Truist Financial Corp. | 410,640 | 23,283 | |
Chubb Ltd. | 108,296 | 23,165 | |
Comerica Inc. | 247,230 | 22,357 | |
Marsh & McLennan Cos. Inc. | 125,913 | 21,458 | |
Loews Corp. | 326,542 | 21,166 | |
Raymond James Financial Inc. | 179,615 | 19,741 |
Shares | Market Value• ($000) | ||
PNC Financial Services Group Inc. | 106,520 | 19,648 | |
Hartford Financial Services Group Inc. | 266,443 | 19,133 | |
MetLife Inc. | 259,202 | 18,217 | |
Allstate Corp. | 131,050 | 18,152 | |
Assurant Inc. | 98,702 | 17,947 | |
Bank of New York Mellon Corp. | 326,600 | 16,209 | |
Blackstone Inc. | 126,545 | 16,064 | |
Charles Schwab Corp. | 184,800 | 15,581 | |
Travelers Cos. Inc. | 84,904 | 15,515 | |
Invesco Ltd. | 598,996 | 13,813 | |
Regions Financial Corp. | 554,570 | 12,345 | |
Ameriprise Financial Inc. | 41,055 | 12,331 | |
BlackRock Inc. | 16,120 | 12,318 | |
Unum Group | 363,850 | 11,465 | |
American International Group Inc. | 152,307 | 9,560 | |
Moody's Corp. | 27,331 | 9,222 | |
First Republic Bank | 56,730 | 9,196 | |
KeyCorp. | 343,960 | 7,698 | |
Affiliated Managers Group Inc. | 50,110 | 7,063 | |
Cincinnati Financial Corp. | 47,523 | 6,461 | |
Zions Bancorp NA | 97,110 | 6,367 | |
Ally Financial Inc. | 143,300 | 6,231 | |
S&P Global Inc. | 12,260 | 5,029 | |
Interactive Brokers Group Inc. Class A | 74,000 | 4,877 | |
T Rowe Price Group Inc. | 26,010 | 3,932 | |
Lincoln National Corp. | 56,390 | 3,686 | |
Franklin Resources Inc. | 129,050 | 3,603 | |
Principal Financial Group Inc. | 38,200 | 2,804 | |
* | Encore Capital Group Inc. | 36,805 | 2,309 |
Aon plc Class A (XNYS) | 7,000 | 2,279 | |
Aflac Inc. | 31,400 | 2,022 | |
OneMain Holdings Inc. | 39,100 | 1,854 | |
First American Financial Corp. | 20,900 | 1,355 | |
Prudential Financial Inc. | 11,100 | 1,312 | |
Popular Inc. | 15,400 | 1,259 | |
* | Credit Acceptance Corp. | 1,700 | 936 |
Citizens Financial Group Inc. | 19,000 | 861 | |
People's United Financial Inc. | 39,100 | 782 | |
MarketAxess Holdings Inc. | 2,000 | 680 | |
M&T Bank Corp. | 4,000 | 678 | |
Fifth Third Bancorp | 14,494 | 624 | |
KKR & Co. Inc. | 10,100 | 591 | |
2 | Prospect Capital Corp. | 67,900 | 562 |
Bank of NT Butterfield & Son Ltd. | 15,330 | 550 | |
* | Green Dot Corp. Class A | 16,800 | 462 |
Sixth Street Specialty Lending Inc. | 19,254 | 448 | |
Owl Rock Capital Corp. | 28,100 | 415 | |
BGC Partners Inc. Class A | 93,700 | 412 | |
Central Pacific Financial Corp. | 14,692 | 410 | |
Navient Corp. | 22,326 | 380 | |
* | PRA Group Inc. | 8,100 | 365 |
* | World Acceptance Corp. | 1,726 | 331 |
Chimera Investment Corp. | 27,100 | 326 | |
* | Blucora Inc. | 13,700 | 268 |
Shares | Market Value• ($000) | ||
MGIC Investment Corp. | 19,100 | 259 | |
Washington Federal Inc. | 7,765 | 255 | |
Solar Capital Ltd. | 13,500 | 245 | |
Flagstar Bancorp Inc. | 5,600 | 237 | |
Apollo Investment Corp. | 17,200 | 227 | |
Banner Corp. | 3,778 | 221 | |
TCG BDC Inc. | 15,000 | 216 | |
* | Donnelley Financial Solutions Inc. | 6,349 | 211 |
Valley National Bancorp | 16,000 | 208 | |
Hanmi Financial Corp. | 7,431 | 183 | |
First Internet Bancorp | 4,155 | 179 | |
Willis Towers Watson plc | 700 | 165 | |
* | Enova International Inc. | 4,300 | 163 |
Progressive Corp. | 1,402 | 160 | |
* | Brighthouse Financial Inc. | 2,600 | 134 |
BlackRock TCP Capital Corp. | 9,400 | 134 | |
TPG RE Finance Trust Inc. | 9,900 | 117 | |
* | PROG Holdings Inc. | 3,922 | 113 |
* | GoHealth Inc. Class A | 93,900 | 111 |
* | SiriusPoint Ltd. | 13,399 | 100 |
Carlyle Group Inc. | 1,900 | 93 | |
Fulton Financial Corp. | 5,400 | 90 | |
New Mountain Finance Corp. | 6,500 | 90 | |
Kearny Financial Corp. | 6,905 | 89 | |
* | Ocwen Financial Corp. | 3,400 | 81 |
Peapack-Gladstone Financial Corp. | 2,090 | 73 | |
First Financial Bancorp | 3,100 | 71 | |
* | TriState Capital Holdings Inc. | 2,000 | 66 |
Hope Bancorp Inc. | 4,042 | 65 | |
SLM Corp. | 3,400 | 62 | |
HomeTrust Bancshares Inc. | 2,017 | 60 | |
AFC Gamma Inc. | 2,813 | 54 | |
2 | Burford Capital Ltd. | 4,880 | 45 |
Radian Group Inc. | 2,000 | 44 | |
First Hawaiian Inc. | 1,541 | 43 | |
International Bancshares Corp. | 1,000 | 42 | |
Tiptree Inc. | 3,172 | 41 | |
MFA Financial Inc. | 9,800 | 40 | |
Home BancShares Inc. | 1,720 | 39 | |
Universal Insurance Holdings Inc. | 2,908 | 39 | |
CBTX Inc. | 1,220 | 38 | |
Arthur J Gallagher & Co. | 220 | 38 | |
PCSB Financial Corp. | 1,734 | 33 | |
* | Elevate Credit Inc. | 9,835 | 30 |
PacWest Bancorp | 700 | 30 | |
Sierra Bancorp | 1,159 | 29 | |
Heritage Insurance Holdings Inc. | 3,903 | 28 | |
Heritage Commerce Corp. | 2,291 | 26 | |
First Community Bankshares Inc. | 888 | 25 | |
Independent Bank Corp. | 1,000 | 22 | |
Northfield Bancorp Inc. | 1,502 | 22 | |
Park National Corp. | 170 | 22 | |
BlackRock Capital Investment Corp. | 5,200 | 22 | |
Bank OZK | 500 | 21 | |
* | Genworth Financial Inc. Class A | 5,400 | 20 |
Shares | Market Value• ($000) | ||
Berkshire Hills Bancorp Inc. | 600 | 17 | |
Greenhill & Co. Inc. | 1,076 | 17 | |
Lakeland Bancorp Inc. | 984 | 16 | |
HBT Financial Inc. | 880 | 16 | |
Jackson Financial Inc. Class A | 300 | 13 | |
TrustCo Bank Corp. NY | 280 | 9 | |
Barings BDC Inc. | 728 | 8 | |
Granite Point Mortgage Trust Inc. | 600 | 7 | |
* | Oportun Financial Corp. | 500 | 7 |
Stifel Financial Corp. | 85 | 6 | |
Tompkins Financial Corp. | 74 | 6 | |
* | LendingClub Corp. | 300 | 5 |
Simmons First National Corp. Class A | 200 | 5 | |
Wintrust Financial Corp. | 52 | 5 | |
City Holding Co. | 45 | 4 | |
Community Trust Bancorp Inc. | 91 | 4 | |
First Financial Corp. | 91 | 4 | |
Great Southern Bancorp Inc. | 71 | 4 | |
Allegiance Bancshares Inc. | 60 | 3 | |
ConnectOne Bancorp Inc. | 82 | 3 | |
Cowen Inc. Class A | 100 | 3 | |
Curo Group Holdings Corp. | 199 | 3 | |
First Financial Northwest Inc. | 172 | 3 | |
First Interstate BancSystem Inc. Class A | 76 | 3 | |
Home Bancorp Inc. | 76 | 3 | |
Horizon Bancorp Inc. | 149 | 3 | |
Kemper Corp. | 51 | 3 | |
* | LendingTree Inc. | 25 | 3 |
NBT Bancorp Inc. | 82 | 3 | |
Nelnet Inc. Class A | 38 | 3 | |
Stock Yards Bancorp Inc. | 55 | 3 | |
TriplePoint Venture Growth BDC Corp. | 165 | 3 | |
Intercorp Financial Services Inc. | 92 | �� 3 | |
Apollo Commercial Real Estate Finance Inc. | 121 | 2 | |
Ares Commercial Real Estate Corp. | 111 | 2 | |
Banc of California Inc. | 100 | 2 | |
CVB Financial Corp. | 77 | 2 | |
Camden National Corp. | 46 | 2 | |
Capitol Federal Financial Inc. | 198 | 2 | |
Civista Bancshares Inc. | 86 | 2 | |
Cohen & Steers Inc. | 26 | 2 | |
Employers Holdings Inc. | 48 | 2 | |
Financial Institutions Inc. | 68 | 2 | |
Great Ajax Corp. | 188 | 2 | |
Investors Bancorp Inc. | 100 | 2 | |
* | MBIA Inc. | 120 | 2 |
OFG Bancorp | 58 | 2 | |
Old National Bancorp | 100 | 2 | |
Preferred Bank | 28 | 2 | |
* | Republic First Bancorp Inc. | 369 | 2 |
SEI Investments Co. | 30 | 2 |
Shares | Market Value• ($000) | ||
ServisFirst Bancshares Inc. | 20 | 2 | |
Trustmark Corp. | 66 | 2 | |
Virtu Financial Inc. Class A | 59 | 2 | |
WesBanco Inc. | 57 | 2 | |
WisdomTree Investments Inc. | 385 | 2 | |
Gladstone Investment Corp. | 100 | 2 | |
Golub Capital BDC Inc. | 100 | 2 | |
PennantPark Investment Corp. | 220 | 2 | |
Saratoga Investment Corp. | 64 | 2 | |
Amalgamated Financial Corp. | 124 | 2 | |
Patria Investments Ltd. Class A | 94 | 2 | |
Cadence Bank | 83 | 2 | |
* | Ambac Financial Group Inc. | 100 | 1 |
AMERISAFE Inc. | 10 | 1 | |
Annaly Capital Management Inc. | 100 | 1 | |
ARMOUR Residential REIT Inc. | 100 | 1 | |
Commerce Bancshares Inc. | 11 | 1 | |
* | EZCorp. Inc. Class A | 200 | 1 |
FNB Corp. | 100 | 1 | |
First BanCorp. (XNYS) | 100 | 1 | |
Huntington Bancshares Inc. | 50 | 1 | |
Ladder Capital Corp. Class A | 100 | 1 | |
Luther Burbank Corp. | 108 | 1 | |
New Residential Investment Corp. | 100 | 1 | |
New York Community Bancorp Inc. | 100 | 1 | |
Northwest Bancshares Inc. | 100 | 1 | |
Old Second Bancorp Inc. | 100 | 1 | |
Oppenheimer Holdings Inc. Class A | 13 | 1 | |
* | SVB Financial Group | 2 | 1 |
TriCo Bancshares | 31 | 1 | |
United Bankshares Inc. | 18 | 1 | |
Washington Trust Bancorp Inc. | 20 | 1 | |
Essent Group Ltd. | 24 | 1 | |
James River Group Holdings Ltd. | 33 | 1 | |
Sculptor Capital Management Inc. Class A | 99 | 1 | |
Broadmark Realty Capital Inc. | 145 | 1 | |
* | XP Inc. Class A | 38 | 1 |
Premier Financial Corp. | 23 | 1 | |
Rocket Cos. Inc. Class A | 100 | 1 | |
Horizon Technology Finance Corp. | 100 | 1 | |
Main Street Capital Corp. | 33 | 1 | |
Oxford Square Capital Corp. | 352 | 1 | |
Primis Financial Corp. | 100 | 1 | |
Bridge Investment Group Holdings Inc. Class A | 38 | 1 |
Shares | Market Value• ($000) | ||
BancFirst Corp. | 5 | — | |
First of Long Island Corp. | 21 | — | |
Flushing Financial Corp. | 2 | — | |
Heartland Financial USA Inc. | 2 | — | |
Invesco Mortgage Capital Inc. | 109 | — | |
Jefferies Financial Group Inc. | 11 | — | |
Lakeland Financial Corp. | 1 | — | |
* | Mr Cooper Group Inc. | 10 | — |
* | NMI Holdings Inc. Class A | 15 | — |
OceanFirst Financial Corp. | 1 | — | |
* | Trupanion Inc. | 1 | — |
Veritex Holdings Inc. | 11 | — | |
Western Alliance Bancorp | 4 | — | |
Westwood Holdings Group Inc. | 25 | — | |
* | ACRES Commercial Realty Corp. | 16 | — |
* | Bright Health Group Inc. | 100 | — |
AG Mortgage Investment Trust Inc. | 12 | — | |
1,379,681 | |||
Health Care (13.8%) | |||
Johnson & Johnson | 1,196,695 | 212,090 | |
Pfizer Inc. | 3,164,695 | 163,836 | |
UnitedHealth Group Inc. | 247,375 | 126,154 | |
Thermo Fisher Scientific Inc. | 171,128 | 101,077 | |
AbbVie Inc. | 490,088 | 79,448 | |
McKesson Corp. | 231,401 | 70,839 | |
CVS Health Corp. | 663,606 | 67,164 | |
Agilent Technologies Inc. | 454,104 | 60,092 | |
Anthem Inc. | 110,954 | 54,503 | |
HCA Healthcare Inc. | 210,934 | 52,864 | |
Bristol-Myers Squibb Co. | 716,378 | 52,317 | |
Amgen Inc. | 200,165 | 48,404 | |
Merck & Co. Inc. | 565,416 | 46,392 | |
* | Vertex Pharmaceuticals Inc. | 169,575 | 44,254 |
* | IQVIA Holdings Inc. | 186,800 | 43,190 |
Abbott Laboratories | 361,363 | 42,771 | |
Gilead Sciences Inc. | 705,895 | 41,965 | |
* | Laboratory Corp. of America Holdings | 139,267 | 36,719 |
Cigna Corp. | 151,324 | 36,259 | |
* | Waters Corp. | 111,810 | 34,705 |
Medtronic plc | 307,942 | 34,166 | |
* | Regeneron Pharmaceuticals Inc. | 45,997 | 32,125 |
AmerisourceBergen Corp. Class A | 159,669 | 24,702 | |
* | DaVita Inc. | 195,530 | 22,116 |
Becton Dickinson and Co. | 76,849 | 20,442 | |
Danaher Corp. | 62,845 | 18,434 | |
* | Align Technology Inc. | 38,966 | 16,989 |
* | Biogen Inc. | 75,328 | 15,864 |
* | Mettler-Toledo International Inc. | 10,054 | 13,806 |
Baxter International Inc. | 170,040 | 13,185 | |
* | Centene Corp. | 152,860 | 12,869 |
* | IDEXX Laboratories Inc. | 20,874 | 11,419 |
Eli Lilly & Co. | 39,543 | 11,324 | |
* | Hologic Inc. | 137,910 | 10,594 |
Zimmer Biomet Holdings Inc. | 66,900 | 8,557 |
Shares | Market Value• ($000) | ||
Organon & Co. | 242,101 | 8,457 | |
West Pharmaceutical Services Inc. | 19,265 | 7,912 | |
Zoetis Inc. | 41,559 | 7,838 | |
* | Incyte Corp. | 97,900 | 7,775 |
* | Moderna Inc. | 41,852 | 7,209 |
Quest Diagnostics Inc. | 50,414 | 6,900 | |
* | ACADIA Pharmaceuticals Inc. | 251,700 | 6,096 |
* | Henry Schein Inc. | 58,300 | 5,083 |
* | Illumina Inc. | 13,800 | 4,822 |
Cardinal Health Inc. | 69,695 | 3,952 | |
DENTSPLY SIRONA Inc. | 73,900 | 3,637 | |
AstraZeneca plc ADR | 54,200 | 3,596 | |
Humana Inc. | 7,678 | 3,341 | |
* | Allscripts Healthcare Solutions Inc. | 134,500 | 3,029 |
Bruker Corp. | 40,000 | 2,572 | |
Owens & Minor Inc. | 56,800 | 2,500 | |
* | Sage Therapeutics Inc. | 68,000 | 2,251 |
Cerner Corp. | 16,016 | 1,498 | |
* | QIAGEN NV | 28,000 | 1,372 |
* | Masimo Corp. | 8,500 | 1,237 |
Viatris Inc. | 113,100 | 1,231 | |
* | Myriad Genetics Inc. | 46,100 | 1,162 |
Bio-Techne Corp. | 2,500 | 1,083 | |
Alcon Inc. | 13,357 | 1,060 | |
* | DexCom Inc. | 1,800 | 921 |
* | Exelixis Inc. | 40,240 | 912 |
* | Charles River Laboratories International Inc. | 2,661 | 756 |
* | Emergent BioSolutions Inc. | 18,000 | 739 |
* | Avantor Inc. | 20,495 | 693 |
Patterson Cos. Inc. | 20,000 | 647 | |
* | BioMarin Pharmaceutical Inc. | 8,300 | 640 |
* | Lexicon Pharmaceuticals Inc. | 237,800 | 497 |
* | Corcept Therapeutics Inc. | 19,543 | 440 |
* | Neogen Corp. | 13,900 | 429 |
* | OPKO Health Inc. | 123,982 | 427 |
* | Innoviva Inc. | 22,000 | 426 |
* | Molina Healthcare Inc. | 1,200 | 400 |
* | Maravai LifeSciences Holdings Inc. Class A | 10,800 | 381 |
* | Amicus Therapeutics Inc. | 37,600 | 356 |
* | Boston Scientific Corp. | 7,369 | 326 |
* | Cytek Biosciences Inc. | 29,548 | 319 |
* | Natera Inc. | 7,500 | 305 |
* | Amedisys Inc. | 1,600 | 276 |
ResMed Inc. | 1,100 | 267 | |
* | Catalent Inc. | 2,387 | 265 |
* | Neurocrine Biosciences Inc. | 2,600 | 244 |
* | Eagle Pharmaceuticals Inc. | 4,652 | 230 |
* | Alkermes plc | 8,600 | 226 |
* | Ovid therapeutics Inc. | 70,021 | 220 |
* | Spectrum Pharmaceuticals Inc. | 165,134 | 213 |
* | Intuitive Surgical Inc. | 700 | 211 |
* | Taro Pharmaceutical Industries Ltd. | 4,733 | 205 |
* | United Therapeutics Corp. | 1,100 | 197 |
* | Zimvie Inc. | 7,800 | 178 |
* | Accuray Inc. | 51,700 | 171 |
* | Semler Scientific Inc. | 3,200 | 159 |
Shares | Market Value• ($000) | ||
* | La Jolla Pharmaceutical Co. | 33,931 | 145 |
* | ABIOMED Inc. | 400 | 133 |
* | WaVe Life Sciences Ltd. | 59,700 | 119 |
* | Tonix Pharmaceuticals Holding Corp. | 481,600 | 111 |
* | Tivity Health Inc. | 3,200 | 103 |
* | Community Health Systems Inc. | 8,000 | 95 |
* | AtriCure Inc. | 1,400 | 92 |
* | Vaxart Inc. | 18,200 | 92 |
* | Vanda Pharmaceuticals Inc. | 7,800 | 88 |
* | Fluidigm Corp. | 22,900 | 82 |
Select Medical Holdings Corp. | 2,900 | 70 | |
* | Avanos Medical Inc. | 2,000 | 67 |
* | Radius Health Inc. | 6,300 | 56 |
* | Sotera Health Co. | 2,581 | 56 |
* | Opiant Pharmaceuticals Inc. | 2,411 | 52 |
* | Dynavax Technologies Corp. | 4,600 | 50 |
* | Lannett Co. Inc. | 62,000 | 49 |
* | Evolus Inc. | 4,300 | 48 |
* | Collegium Pharmaceutical Inc. | 2,300 | 47 |
* | Covetrus Inc. | 2,800 | 47 |
* | Omeros Corp. | 7,700 | 46 |
* | Theravance Biopharma Inc. | 4,700 | 45 |
* | Infinity Pharmaceuticals Inc. | 38,361 | 44 |
* | NuVasive Inc. | 667 | 38 |
* | ANI Pharmaceuticals Inc. | 1,328 | 37 |
* | Puma Biotechnology Inc. | 11,961 | 34 |
* | Cardiovascular Systems Inc. | 1,400 | 32 |
* | Sangamo Therapeutics Inc. | 5,300 | 31 |
* | AcelRx Pharmaceuticals Inc. | 96,477 | 28 |
* | Catalyst Pharmaceuticals Inc. | 3,400 | 28 |
* | NextGen Healthcare Inc. | 1,300 | 27 |
* | Aeglea BioTherapeutics Inc. | 9,888 | 23 |
* | Orgenesis Inc. | 6,075 | 21 |
* | Travere Thrapeutics Inc. | 825 | 21 |
* | AnaptysBio Inc. | 800 | 20 |
* | CEL–SCI Corp. | 4,996 | 20 |
* | Inovio Pharmaceuticals Inc. | 5,600 | 20 |
* | Atara Biotherapeutics Inc. | 2,003 | 19 |
* | MiMedx Group Inc. | 4,100 | 19 |
* | Cerus Corp. | 3,300 | 18 |
* | Tricida Inc. | 2,200 | 18 |
* | Vir Biotechnology Inc. | 700 | 18 |
* | Endo International plc | 7,300 | 17 |
*,2 | Innovage Holding Corp. | 2,600 | 17 |
* | Bio-Rad Laboratories Inc. Class A | 28 | 16 |
* | Agile Therapeutics Inc. | 73,421 | 15 |
* | Reneo Pharmaceuticals Inc. | 4,537 | 13 |
* | Antares Pharma Inc. | 2,836 | 12 |
* | Aveanna Healthcare Holdings Inc. | 3,500 | 12 |
Shares | Market Value• ($000) | ||
* | Invacare Corp. | 7,600 | 11 |
* | Provention Bio Inc. | 1,500 | 11 |
* | ICON plc | 47 | 11 |
* | ImmunoGen Inc. | 2,100 | 10 |
* | Societal CDMO Inc. | 5,213 | 9 |
* | Rubius Therapeutics Inc. | 1,539 | 8 |
* | Essa Pharma Inc. | 1,302 | 8 |
*,2 | Sundial Growers Inc. | 10,800 | 8 |
* | Repligen Corp. | 39 | 7 |
* | Ultragenyx Pharmaceutical Inc. | 90 | 7 |
* | Novavax Inc. | 84 | 6 |
* | Sharecare Inc. | 2,600 | 6 |
* | Corbus Pharmaceuticals Holdings Inc. | 9,744 | 5 |
* | CorVel Corp. | 30 | 5 |
* | Edwards Lifesciences Corp. | 40 | 5 |
* | SIGA Technologies Inc. | 700 | 5 |
* | Retractable Technologies Inc. | 1,000 | 5 |
* | Avalo Therapeutics Inc. | 6,273 | 5 |
* | Surmodics Inc. | 98 | 4 |
* | Envista Holdings Corp. | 81 | 4 |
* | Arcus Biosciences Inc. | 99 | 3 |
* | Cara Therapeutics Inc. | 206 | 3 |
* | Coherus Biosciences Inc. | 200 | 3 |
* | Exact Sciences Corp. | 45 | 3 |
* | GlycoMimetics Inc. | 2,200 | 3 |
* | IVERIC bio Inc. | 150 | 3 |
* | Penumbra Inc. | 13 | 3 |
* | Syndax Pharmaceuticals Inc. | 179 | 3 |
* | Tandem Diabetes Care Inc. | 26 | 3 |
* | iCAD Inc. | 587 | 3 |
* | Aclaris Therapeutics Inc. | 100 | 2 |
* | BioCryst Pharmaceuticals Inc. | 100 | 2 |
* | Brookdale Senior Living Inc. | 311 | 2 |
* | Cutera Inc. | 32 | 2 |
* | FONAR Corp. | 100 | 2 |
* | Homology Medicines Inc. | 600 | 2 |
* | Integer Holdings Corp. | 24 | 2 |
* | Nektar Therapeutics Class A | 300 | 2 |
* | Oncocyte Corp. | 1,200 | 2 |
* | Palatin Technologies Inc. | 3,558 | 2 |
* | RadNet Inc. | 100 | 2 |
*,2 | Sorrento Therapeutics Inc. | 866 | 2 |
* | Voyager Therapeutics Inc. | 200 | 2 |
* | InfuSystem Holdings Inc. | 176 | 2 |
* | Organogenesis Holdings Inc. Class A | 200 | 2 |
* | Gamida Cell Ltd. | 428 | 2 |
* | Altimmune Inc. | 254 | 2 |
* | Viemed Healthcare Inc. | 306 | 2 |
* | Humanigen Inc. | 542 | 2 |
* | Ortho Clinical Diagnostics Holdings plc Class H | 100 | 2 |
* | Canopy Growth Corp. | 200 | 2 |
* | EyePoint Pharmaceuticals Inc. | 200 | 2 |
* | LifeStance Health Group Inc. | 167 | 2 |
* | Definitive Healthcare Corp. Class A | 95 | 2 |
Shares | Market Value• ($000) | ||
* | Xeris Biopharma Holdings Inc. | 662 | 2 |
* | Agenus Inc. | 200 | 1 |
* | Allakos Inc. | 100 | 1 |
* | Amneal Pharmaceuticals Inc. | 200 | 1 |
* | Ardelyx Inc. | 1,000 | 1 |
* | Bridgebio Pharma Inc. | 100 | 1 |
* | CTI BioPharma Corp. | 200 | 1 |
* | Calithera Biosciences Inc. | 3,210 | 1 |
* | Change Healthcare Inc. | 57 | 1 |
* | Concert Pharmaceuticals Inc. | 300 | 1 |
* | Cymabay Therapeutics Inc. | 376 | 1 |
* | CytomX Therapeutics Inc. | 200 | 1 |
* | Eiger BioPharmaceuticals Inc. | 100 | 1 |
* | Enzo Biochem Inc. | 500 | 1 |
* | Evofem Biosciences Inc. | 3,860 | 1 |
* | Gritstone bio Inc. | 254 | 1 |
* | Heron Therapeutics Inc. | 200 | 1 |
* | Ironwood Pharmaceuticals Inc. Class A | 117 | 1 |
* | Jounce Therapeutics Inc. | 100 | 1 |
* | Karyopharm Therapeutics Inc. | 100 | 1 |
* | Kura Oncology Inc. | 33 | 1 |
LeMaitre Vascular Inc. | 27 | 1 | |
* | Lineage Cell Therapeutics Inc. | 900 | 1 |
* | MediciNova Inc. | 200 | 1 |
* | Meridian Bioscience Inc. | 50 | 1 |
* | Minerva Neurosciences Inc. | 1,100 | 1 |
* | Natus Medical Inc. | 30 | 1 |
* | Optinose Inc. | 600 | 1 |
* | OraSure Technologies Inc. | 100 | 1 |
* | Pacific Biosciences of California Inc. | 70 | 1 |
Phibro Animal Health Corp. Class A | 38 | 1 | |
* | Rigel Pharmaceuticals Inc. | 372 | 1 |
* | Selecta Biosciences Inc. | 400 | 1 |
* | TG Therapeutics Inc. | 100 | 1 |
* | Harpoon Therapeutics Inc. | 200 | 1 |
* | NextCure Inc. | 200 | 1 |
* | SmileDirectClub Inc. | 239 | 1 |
* | Pieris Pharmaceuticals Inc. | 300 | 1 |
* | CRISPR Therapeutics AG | 16 | 1 |
* | PDS Biotechnology Corp. | 165 | 1 |
* | Liquidia Corp. | 166 | 1 |
* | Immunovant Inc. | 180 | 1 |
* | Marinus Pharmaceuticals Inc. | 125 | 1 |
* | Chinook Therapeutics Inc. | 67 | 1 |
* | Cronos Group Inc. | 200 | 1 |
* | Compugen Ltd. | 193 | 1 |
* | Aytu BioPharma Inc. | 1,279 | 1 |
* | Heat Biologics Inc. | 252 | 1 |
* | Akoya Biosciences Inc. | 47 | 1 |
* | Rain Therapeutics Inc. | 135 | 1 |
* | Assertio Holdings Inc. | 395 | 1 |
* | Convey Health Solutions Holdings Inc. | 200 | 1 |
* | ATAI Life Sciences NV | 148 | 1 |
Shares | Market Value• ($000) | ||
* | Abeona Therapeutics Inc. | 700 | — |
* | Accelerate Diagnostics Inc. | 300 | — |
* | Adverum Biotechnologies Inc. | 100 | — |
* | Akebia Therapeutics Inc. | 498 | — |
* | Assembly Biosciences Inc. | 80 | — |
* | Athenex Inc. | 173 | — |
* | Calyxt Inc. | 41 | — |
* | Chimerix Inc. | 100 | — |
* | Clovis Oncology Inc. | 100 | — |
* | Computer Programs and Systems Inc. | 5 | — |
* | Durect Corp. | 100 | — |
* | ElectroCore Inc. | 386 | — |
* | Fortress Biotech Inc. | 100 | — |
* | Galectin Therapeutics Inc. | 100 | — |
* | Insmed Inc. | 6 | — |
* | MannKind Corp. | 100 | — |
* | Mersana Therapeutics Inc. | 100 | — |
* | Paratek Pharmaceuticals Inc. | 100 | — |
* | PolarityTE Inc. | 283 | — |
* | Rockwell Medical Inc. | 436 | — |
* | Senseonics Holdings Inc. | 200 | — |
* | Seres Therapeutics Inc. | 22 | — |
* | Sesen Bio Inc. | 300 | — |
* | Sientra Inc. | 206 | — |
* | Syros Pharmaceuticals Inc. | 100 | — |
* | Tactile Systems Technology Inc. | 14 | — |
* | vTv Therapeutics Inc. Class A | 406 | — |
* | Pulse Biosciences Inc. | 100 | — |
* | Tyme Technologies Inc. | 600 | — |
* | Aquestive Therapeutics Inc. | 181 | — |
* | Arbutus Biopharma Corp. | 100 | — |
* | Affimed NV | 100 | — |
* | Bellicum Pharmaceuticals Inc. | 175 | — |
* | AlerisLife Inc. | 6 | — |
* | Precigen Inc. | 200 | — |
* | VBI Vaccines Inc. | 100 | — |
* | Neoleukin Therapeutics Inc. | 15 | — |
* | Surgalign Holdings Inc. | 195 | — |
* | Quotient Ltd. | 200 | — |
* | Genocea Biosciences Inc. | 300 | — |
* | IMARA Inc. | 160 | — |
* | Aptinyx Inc. Class A | 200 | — |
* | ProQR Therapeutics NV | 205 | — |
* | VYNE Therapeutics Inc. | 84 | — |
* | Acumen Pharmaceuticals Inc. | 100 | — |
1,792,507 | |||
Industrials (7.0%) | |||
United Parcel Service Inc. Class B | 427,223 | 91,622 | |
Union Pacific Corp. | 242,171 | 66,164 | |
Lockheed Martin Corp. | 124,878 | 55,121 | |
Otis Worldwide Corp. | 524,711 | 40,377 | |
Norfolk Southern Corp. | 136,548 | 38,946 | |
Northrop Grumman Corp. | 84,643 | 37,854 | |
Emerson Electric Co. | 359,632 | 35,262 |
Shares | Market Value• ($000) | ||
Dover Corp. | 210,500 | 33,027 | |
Republic Services Inc. Class A | 236,777 | 31,373 | |
FedEx Corp. | 130,840 | 30,275 | |
Honeywell International Inc. | 149,228 | 29,037 | |
3M Co. | 191,619 | 28,528 | |
* | United Rentals Inc. | 75,961 | 26,982 |
Robert Half International Inc. | 229,669 | 26,224 | |
WW Grainger Inc. | 48,610 | 25,073 | |
Caterpillar Inc. | 109,205 | 24,333 | |
Illinois Tool Works Inc. | 115,805 | 24,250 | |
Old Dominion Freight Line Inc. | 73,078 | 21,827 | |
Trane Technologies plc | 138,808 | 21,196 | |
Deere & Co. | 49,847 | 20,709 | |
A O Smith Corp. | 286,334 | 18,294 | |
Cummins Inc. | 67,378 | 13,820 | |
Fortive Corp. | 220,300 | 13,423 | |
Carrier Global Corp. | 252,100 | 11,564 | |
General Dynamics Corp. | 46,800 | 11,287 | |
JB Hunt Transport Services Inc. | 54,620 | 10,967 | |
Raytheon Technologies Corp. | 109,200 | 10,818 | |
Allegion plc | 98,053 | 10,764 | |
Johnson Controls International plc | 152,321 | 9,988 | |
Snap-on Inc. | 39,500 | 8,116 | |
Equifax Inc. | 34,100 | 8,085 | |
Expeditors International of Washington Inc. | 62,641 | 6,462 | |
Masco Corp. | 103,704 | 5,289 | |
Eaton Corp. plc | 30,779 | 4,671 | |
Nielsen Holdings plc | 148,610 | 4,048 | |
Textron Inc. | 54,200 | 4,031 | |
AMETEK Inc. | 29,671 | 3,952 | |
* | Avis Budget Group Inc. | 12,500 | 3,291 |
Fastenal Co. | 52,624 | 3,126 | |
* | AerCap Holdings NV | 53,100 | 2,670 |
TransUnion | 24,600 | 2,542 | |
CH Robinson Worldwide Inc. | 23,400 | 2,520 | |
Xylem Inc. | 24,300 | 2,072 | |
Allison Transmission Holdings Inc. | 50,100 | 1,967 | |
Fortune Brands Home & Security Inc. | 25,179 | 1,870 | |
Huntington Ingalls Industries Inc. | 8,900 | 1,775 | |
Vertiv Holdings Co. Class A | 124,800 | 1,747 | |
* | Aerojet Rocketdyne Holdings Inc. | 40,100 | 1,578 |
General Electric Co. | 16,900 | 1,546 | |
Rollins Inc. | 36,761 | 1,288 | |
Air Lease Corp. Class A | 22,700 | 1,014 | |
* | Fluor Corp. | 34,800 | 998 |
* | Upwork Inc. | 37,700 | 876 |
* | Resideo Technologies Inc. | 34,300 | 817 |
Acuity Brands Inc. | 4,000 | 757 | |
nVent Electric plc | 21,200 | 737 | |
PACCAR Inc. | 8,070 | 711 | |
* | Mercury Systems Inc. | 9,694 | 625 |
* | Hayward Holdings Inc. | 37,400 | 622 |
Waste Connections Inc. (XTSE) | 4,100 | 573 |
Shares | Market Value• ($000) | ||
Werner Enterprises Inc. | 13,600 | 558 | |
* | Great Lakes Dredge & Dock Corp. | 32,900 | 462 |
Parker-Hannifin Corp. | 1,534 | 435 | |
Moog Inc. Class A | 4,812 | 422 | |
ManpowerGroup Inc. | 4,400 | 413 | |
CSX Corp. | 10,300 | 386 | |
ManTech International Corp. Class A | 4,300 | 371 | |
MSA Safety Inc. | 2,788 | 370 | |
* | KAR Auction Services Inc. | 20,200 | 365 |
* | Generac Holdings Inc. | 1,200 | 357 |
REV Group Inc. | 25,663 | 344 | |
Pitney Bowes Inc. | 64,800 | 337 | |
* | Atlas Air Worldwide Holdings Inc. | 3,770 | 326 |
L3Harris Technologies Inc. | 1,300 | 323 | |
Howmet Aerospace Inc. | 8,100 | 291 | |
Maxar Technologies Inc. | 5,800 | 229 | |
* | SkyWest Inc. | 7,900 | 228 |
Pentair plc | 4,100 | 222 | |
* | TriNet Group Inc. | 2,200 | 216 |
* | CACI International Inc. Class A | 680 | 205 |
* | First Advantage Corp. | 10,051 | 203 |
Herc Holdings Inc. | 1,200 | 201 | |
Atlas Corp. | 13,600 | 200 | |
Lindsay Corp. | 1,200 | 188 | |
* | CoStar Group Inc. | 2,500 | 167 |
GrafTech International Ltd. | 16,900 | 163 | |
* | Proterra Inc. | 19,900 | 150 |
Knight-Swift Transportation Holdings Inc. | 2,900 | 146 | |
* | Beacon Roofing Supply Inc. | 2,400 | 142 |
IDEX Corp. | 700 | 134 | |
* | Quad/Graphics Inc. | 17,871 | 124 |
Shyft Group Inc. | 3,300 | 119 | |
* | Middleby Corp. | 700 | 115 |
ABM Industries Inc. | 2,400 | 110 | |
* | AAR Corp. | 2,100 | 102 |
* | IAA Inc. | 2,500 | 96 |
* | Kratos Defense & Security Solutions Inc. | 4,400 | 90 |
* | Gibraltar Industries Inc. | 2,000 | 86 |
* | Manitowoc Co. Inc. | 5,600 | 84 |
Kelly Services Inc. Class A | 3,629 | 79 | |
Owens Corning | 700 | 64 | |
AECOM | 800 | 61 | |
* | Tutor Perini Corp. | 5,162 | 56 |
Matthews International Corp. Class A | 1,400 | 45 | |
* | Yellow Corp. | 6,100 | 43 |
* | American Superconductor Corp. | 5,500 | 42 |
* | Mesa Air Group Inc. | 9,391 | 41 |
* | Harsco Corp. | 3,300 | 40 |
* | Archer Aviation Inc. Class A | 8,300 | 40 |
* | Northwest Pipe Co. | 1,547 | 39 |
Altra Industrial Motion Corp. | 972 | 38 | |
* | BrightView Holdings Inc. | 2,748 | 37 |
* | TrueBlue Inc. | 1,192 | 34 |
Heartland Express Inc. | 2,334 | 33 | |
Costamare Inc. | 1,700 | 29 | |
Lennox International Inc. | 95 | 24 |
Shares | Market Value• ($000) | ||
Flowserve Corp. | 600 | 22 | |
* | Astronics Corp. | 1,500 | 19 |
Quanex Building Products Corp. | 901 | 19 | |
Terex Corp. | 500 | 18 | |
* | Mayville Engineering Co. Inc. | 1,901 | 18 |
* | Babcock & Wilcox Enterprises Inc. | 1,900 | 15 |
Rush Enterprises Inc. Class A | 258 | 13 | |
HNI Corp. | 300 | 11 | |
* | American Airlines Group Inc. | 500 | 9 |
Golden Ocean Group Ltd. | 700 | 9 | |
Ryder System Inc. | 100 | 8 | |
Schneider National Inc. Class B | 297 | 8 | |
* | Triumph Group Inc. | 300 | 8 |
* | Ultralife Corp. | 1,419 | 8 |
ZIM Integrated Shipping Services Ltd. | 97 | 7 | |
Graco Inc. | 92 | 6 | |
* | Plug Power Inc. | 200 | 6 |
Arcosa Inc. | 89 | 5 | |
Oshkosh Corp. | 47 | 5 | |
* | TransDigm Group Inc. | 7 | 5 |
Barnes Group Inc. | 98 | 4 | |
* | CBIZ Inc. | 91 | 4 |
Healthcare Services Group Inc. | 198 | 4 | |
* | Southwest Airlines Co. | 86 | 4 |
Tetra Tech Inc. | 23 | 4 | |
* | Alaska Air Group Inc. | 54 | 3 |
* | Evoqua Water Technologies Corp. | 63 | 3 |
* | L B Foster Co. Class A | 194 | 3 |
Marten Transport Ltd. | 150 | 3 | |
* | WESCO International Inc. | 23 | 3 |
GFL Environmental Inc. (XTSE) | 90 | 3 | |
AZZ Inc. | 41 | 2 | |
Brady Corp. Class A | 38 | 2 | |
* | Cornerstone Building Brands Inc. | 98 | 2 |
* | Forrester Research Inc. | 40 | 2 |
Greenbrier Cos. Inc. | 39 | 2 | |
Hexcel Corp. | 27 | 2 | |
LSI Industries Inc. | 400 | 2 | |
MDU Resources Group Inc. | 57 | 2 | |
* | MRC Global Inc. | 147 | 2 |
* | Matrix Service Co. | 192 | 2 |
MillerKnoll Inc. | 60 | 2 | |
* | NOW Inc. | 146 | 2 |
* | Radiant Logistics Inc. | 282 | 2 |
Resources Connection Inc. | 112 | 2 | |
Steelcase Inc. Class A | 142 | 2 | |
* | Team Inc. | 700 | 2 |
* | Titan Machinery Inc. | 66 | 2 |
Universal Logistics Holdings Inc. | 86 | 2 | |
* | Gates Industrial Corp. plc | 153 | 2 |
Luxfer Holdings plc | 94 | 2 | |
Genco Shipping & Trading Ltd. | 98 | 2 | |
ACCO Brands Corp. | 204 | 2 |
Shares | Market Value• ($000) | ||
ARC Document Solutions Inc. | 457 | 2 | |
* | Sun Country Airlines Holdings Inc. | 83 | 2 |
* | Acacia Research Corp. | 200 | 1 |
* | CECO Environmental Corp. | 225 | 1 |
* | CoreCivic Inc. | 99 | 1 |
* | GEO Group Inc. | 200 | 1 |
* | Hawaiian Holdings Inc. | 76 | 1 |
Interface Inc. Class A | 100 | 1 | |
* | JetBlue Airways Corp. | 100 | 1 |
Kimball International Inc. Class B | 132 | 1 | |
* | Masonite International Corp. | 6 | 1 |
* | Mistras Group Inc. | 100 | 1 |
* | Orion Group Holdings Inc. | 400 | 1 |
* | Titan International Inc. | 100 | 1 |
Wabash National Corp. | 100 | 1 | |
Caesarstone Ltd. | 62 | 1 | |
* | FuelCell Energy Inc. | 200 | 1 |
* | Corp. America Airports SA | 200 | 1 |
Pangaea Logistics Solutions Ltd. | 200 | 1 | |
* | Armstrong Flooring Inc. | 25 | — |
Covenant Logistics Group Inc. Class A | 14 | — | |
* | Energous Corp. | 142 | — |
* | USA Truck Inc. | 24 | — |
* | Ideanomics Inc. | 100 | — |
* | Westport Fuel Systems Inc. | 100 | — |
Eneti Inc. | 2 | — | |
Zurn Water Solutions Corp. | 3 | — | |
910,028 | |||
Information Technology (27.4%) | |||
Apple Inc. | 5,100,039 | 890,518 | |
Microsoft Corp. | 2,727,359 | 840,872 | |
NVIDIA Corp. | 595,309 | 162,436 | |
QUALCOMM Inc. | 928,247 | 141,855 | |
Accenture plc Class A | 330,708 | 111,525 | |
Texas Instruments Inc. | 548,583 | 100,654 | |
Intel Corp. | 1,380,365 | 68,411 | |
HP Inc. | 1,696,467 | 61,582 | |
Cisco Systems Inc. | 998,019 | 55,649 | |
Applied Materials Inc. | 404,315 | 53,289 | |
Oracle Corp. | 625,952 | 51,785 | |
Cognizant Technology Solutions Corp. Class A | 576,118 | 51,660 | |
* | Adobe Inc. | 106,013 | 48,302 |
Broadcom Inc. | 76,197 | 47,980 | |
Visa Inc. Class A | 215,528 | 47,798 | |
* | PayPal Holdings Inc. | 401,420 | 46,424 |
Micron Technology Inc. | 595,020 | 46,346 | |
Mastercard Inc. Class A | 122,575 | 43,806 | |
* | Cadence Design Systems Inc. | 250,265 | 41,159 |
KLA Corp. | 103,020 | 37,711 | |
* | Advanced Micro Devices Inc. | 338,047 | 36,962 |
* | Synopsys Inc. | 99,027 | 33,003 |
Lam Research Corp. | 61,237 | 32,922 | |
* | Gartner Inc. | 110,211 | 32,783 |
* | Fortinet Inc. | 92,671 | 31,669 |
Shares | Market Value• ($000) | ||
International Business Machines Corp. | 236,214 | 30,713 | |
* | ServiceNow Inc. | 50,072 | 27,885 |
CDW Corp. | 141,530 | 25,318 | |
* | Western Digital Corp. | 498,290 | 24,740 |
* | VeriSign Inc. | 110,900 | 24,671 |
Skyworks Solutions Inc. | 162,060 | 21,599 | |
NXP Semiconductors NV | 116,290 | 21,523 | |
Analog Devices Inc. | 117,212 | 19,361 | |
Fidelity National Information Services Inc. | 174,300 | 17,503 | |
* | Qorvo Inc. | 129,371 | 16,055 |
* | Enphase Energy Inc. | 68,040 | 13,729 |
* | EPAM Systems Inc. | 45,702 | 13,556 |
Motorola Solutions Inc. | 53,535 | 12,966 | |
Vontier Corp. | 465,800 | 11,827 | |
* | Akamai Technologies Inc. | 94,700 | 11,306 |
Teradyne Inc. | 93,900 | 11,102 | |
* | FleetCor Technologies Inc. | 42,840 | 10,670 |
Microchip Technology Inc. | 137,000 | 10,294 | |
* | salesforce.com Inc. | 47,333 | 10,050 |
* | Keysight Technologies Inc. | 58,200 | 9,194 |
* | Autodesk Inc. | 41,818 | 8,964 |
* | DocuSign Inc. Class A | 80,000 | 8,570 |
NetApp Inc. | 83,400 | 6,922 | |
NortonLifeLock Inc. | 239,725 | 6,357 | |
Intuit Inc. | 11,200 | 5,385 | |
* | Zebra Technologies Corp. Class A | 11,800 | 4,882 |
Monolithic Power Systems Inc. | 9,380 | 4,556 | |
Global Payments Inc. | 32,100 | 4,393 | |
Hewlett Packard Enterprise Co. | 236,147 | 3,946 | |
* | Rambus Inc. | 113,113 | 3,607 |
* | Fair Isaac Corp. | 7,000 | 3,265 |
* | Snowflake Inc. Class A | 14,000 | 3,208 |
* | Atlassian Corp. plc Class A | 10,100 | 2,968 |
Citrix Systems Inc. | 27,100 | 2,734 | |
* | DXC Technology Co. | 79,700 | 2,601 |
Corning Inc. | 62,800 | 2,318 | |
Western Union Co. | 121,490 | 2,277 | |
* | Cloudflare Inc. Class A | 19,000 | 2,274 |
* | Paycom Software Inc. | 6,500 | 2,251 |
* | Workiva Inc. Class A | 18,300 | 2,159 |
* | SunPower Corp. | 98,198 | 2,109 |
InterDigital Inc. | 31,500 | 2,010 | |
* | Box Inc. Class A | 60,800 | 1,767 |
TE Connectivity Ltd. | 12,100 | 1,585 | |
* | Datadog Inc. Class A | 10,300 | 1,560 |
* | Check Point Software Technologies Ltd. | 9,800 | 1,355 |
* | Teradata Corp. | 27,200 | 1,341 |
* | Trimble Inc. | 14,300 | 1,032 |
Marvell Technology Inc. | 14,043 | 1,007 | |
* | Tower Semiconductor Ltd. | 20,300 | 982 |
Jack Henry & Associates Inc. | 4,500 | 887 | |
Concentrix Corp. | 5,000 | 833 | |
Amdocs Ltd. | 9,800 | 806 | |
* | Sanmina Corp. | 16,200 | 655 |
* | Dropbox Inc. Class A | 27,500 | 639 |
* | First Solar Inc. | 7,400 | 620 |
* | Trade Desk Inc. Class A | 7,000 | 485 |
* | ACI Worldwide Inc. | 14,912 | 470 |
Shares | Market Value• ($000) | ||
* | NetScout Systems Inc. | 14,100 | 452 |
* | Mandiant Inc. | 19,800 | 442 |
Paychex Inc. | 2,900 | 396 | |
* | Conduent Inc. | 75,768 | 391 |
SolarWinds Corp. | 27,800 | 370 | |
* | Cognyte Software Ltd. | 32,400 | 366 |
* | Synaptics Inc. | 1,800 | 359 |
Xerox Holdings Corp. | 16,770 | 338 | |
* | Momentive Global Inc. | 19,900 | 324 |
* | Black Knight Inc. | 5,200 | 302 |
* | Bottomline Technologies DE Inc. | 5,300 | 300 |
* | Grid Dynamics Holdings Inc. | 20,438 | 288 |
* | Unisys Corp. | 13,100 | 283 |
* | DigitalOcean Holdings Inc. | 4,700 | 272 |
* | ANSYS Inc. | 800 | 254 |
* | StoneCo. Ltd. Class A | 20,100 | 235 |
SS&C Technologies Holdings Inc. | 3,100 | 233 | |
MKS Instruments Inc. | 1,500 | 225 | |
* | Dynatrace Inc. | 4,300 | 202 |
Alliance Data Systems Corp. | 3,441 | 193 | |
* | TTM Technologies Inc. | 8,900 | 132 |
* | TELUS International CDA Inc. | 5,353 | 132 |
* | Avid Technology Inc. | 3,600 | 125 |
* | Celestica Inc. | 10,500 | 125 |
* | Crowdstrike Holdings Inc. Class A | 500 | 114 |
Ebix Inc. | 2,900 | 96 | |
* | Infinera Corp. | 10,900 | 94 |
* | Payoneer Global Inc. | 21,000 | 94 |
* | Squarespace Inc. Class A | 3,500 | 90 |
Bentley Systems Inc. Class B | 2,000 | 88 | |
Avnet Inc. | 2,036 | 83 | |
* | Daktronics Inc. | 21,080 | 81 |
* | Rimini Street Inc. | 13,800 | 80 |
* | Veeco Instruments Inc. | 2,900 | 79 |
A10 Networks Inc. | 5,366 | 75 | |
* | Everbridge Inc. | 1,600 | 70 |
* | Upland Software Inc. | 3,900 | 69 |
* | Blackbaud Inc. | 1,000 | 60 |
* | MACOM Technology Solutions Holdings Inc. Class H | 1,000 | 60 |
* | Shopify Inc. Class A (XTSE) | 87 | 59 |
* | Magnachip Semiconductor Corp. | 3,500 | 59 |
Hackett Group Inc. | 2,290 | 53 | |
* | WM Technology Inc. | 5,800 | 45 |
* | Rackspace Technology Inc. | 3,900 | 43 |
* | ChannelAdvisor Corp. | 2,500 | 41 |
* | CommScope Holding Co. Inc. | 4,200 | 33 |
* | Perficient Inc. | 300 | 33 |
* | Flywire Corp. | 1,000 | 31 |
* | Allegro MicroSystems Inc. | 1,000 | 28 |
* | N-able Inc. | 2,900 | 26 |
* | Blackline Inc. | 338 | 25 |
* | Tenable Holdings Inc. | 400 | 23 |
* | PagSeguro Digital Ltd. Class A | 1,100 | 22 |
Shares | Market Value• ($000) | ||
* | Ribbon Communications Inc. | 6,706 | 21 |
* | Knowles Corp. | 900 | 19 |
* | PDF Solutions Inc. | 600 | 17 |
Universal Display Corp. | 100 | 17 | |
National Instruments Corp. | 400 | 16 | |
* | Harmonic Inc. | 1,500 | 14 |
* | Yext Inc. | 1,900 | 13 |
Sapiens International Corp. NV | 472 | 12 | |
* | SEMrush Holdings Inc. Class A | 900 | 11 |
* | Photronics Inc. | 600 | 10 |
Vishay Intertechnology Inc. | 502 | 10 | |
Broadridge Financial Solutions Inc. | 51 | 8 | |
Ituran Location and Control Ltd. | 326 | 7 | |
* | Paysafe Ltd. | 2,200 | 7 |
* | Euronet Worldwide Inc. | 45 | 6 |
* | Silicon Laboratories Inc. | 41 | 6 |
Badger Meter Inc. | 51 | 5 | |
Bel Fuse Inc. Class B | 300 | 5 | |
Information Services Group Inc. | 800 | 5 | |
* | KVH Industries Inc. | 508 | 5 |
* | PFSweb Inc. | 400 | 5 |
Amphenol Corp. Class A | 51 | 4 | |
* | Brightcove Inc. | 511 | 4 |
* | New Relic Inc. | 61 | 4 |
* | Paysign Inc. | 2,300 | 4 |
* | Zendesk Inc. | 32 | 4 |
* | SMART Global Holdings Inc. | 146 | 4 |
* | SecureWorks Corp. Class A | 317 | 4 |
* | Impinj Inc. | 50 | 3 |
* | Iteris Inc. | 951 | 3 |
* | LiveRamp Holdings Inc. | 86 | 3 |
NVE Corp. | 49 | 3 | |
* | Digital Turbine Inc. | 40 | 2 |
* | Evo Payments Inc. Class A | 81 | 2 |
* | eGain Corp. | 174 | 2 |
* | Lumentum Holdings Inc. | 17 | 2 |
* | Mitek Systems Inc. | 137 | 2 |
* | Model N Inc. | 94 | 2 |
Switch Inc. Class A | 74 | 2 | |
TD SYNNEX Corp. | 19 | 2 | |
* | 3D Systems Corp. | 100 | 2 |
* | Turtle Beach Corp. | 101 | 2 |
* | Verra Mobility Corp. Class A | 100 | 2 |
* | Viavi Solutions Inc. | 100 | 2 |
* | Flex Ltd. | 100 | 2 |
* | Cerence Inc. | 56 | 2 |
* | Palantir Technologies Inc. Class A | 117 | 2 |
* | Net 1 UEPS Technologies Inc. | 372 | 2 |
* | Hollysys Automation Technologies Ltd. | 100 | 2 |
* | Applied Optoelectronics Inc. | 200 | 1 |
* | Arlo Technologies Inc. | 100 | 1 |
* | Axcelis Technologies Inc. | 10 | 1 |
Shares | Market Value• ($000) | ||
Benchmark Electronics Inc. | 55 | 1 | |
* | Benefitfocus Inc. | 100 | 1 |
* | CalAmp Corp. | 103 | 1 |
* | Ceridian HCM Holding Inc. | 8 | 1 |
* | Diebold Nixdorf Inc. | 200 | 1 |
* | ePlus Inc. | 14 | 1 |
* | Extreme Networks Inc. | 100 | 1 |
* | Inseego Corp. | 200 | 1 |
* | Kopin Corp. | 281 | 1 |
* | MicroVision Inc. | 300 | 1 |
* | MoneyGram International Inc. | 110 | 1 |
* | NeoPhotonics Corp. | 100 | 1 |
* | Rekor Systems Inc. | 200 | 1 |
* | Smartsheet Inc. Class A | 14 | 1 |
* | ViaSat Inc. | 26 | 1 |
* | Park City Group Inc. | 134 | 1 |
* | Tufin Software Technologies Ltd. | 105 | 1 |
* | Phunware Inc. | 400 | 1 |
* | Intrusion Inc. | 437 | 1 |
* | Kyndryl Holdings Inc. | 100 | 1 |
* | Asure Software Inc. | 75 | — |
* | Calix Inc. | 9 | — |
* | Casa Systems Inc. | 100 | — |
* | Eastman Kodak Co. | 29 | — |
* | 8x8 Inc. | 5 | — |
* | Immersion Corp. | 2 | — |
* | VirnetX Holding Corp. | 100 | — |
* | Vishay Precision Group Inc. | 2 | — |
* | Maxeon Solar Technologies Ltd. | 12 | — |
* | Sierra Wireless Inc. | 15 | — |
* | Exela Technologies Inc. | 1,020 | — |
* | Alkami Technology Inc. | 3 | — |
3,573,752 | |||
Materials (1.9%) | |||
Dow Inc. | 671,431 | 42,784 | |
Nucor Corp. | 204,385 | 30,382 | |
Mosaic Co. | 329,107 | 21,886 | |
Packaging Corp. of America | 116,696 | 18,217 | |
Sealed Air Corp. | 260,940 | 17,473 | |
Freeport-McMoRan Inc. | 298,623 | 14,854 | |
CF Industries Holdings Inc. | 125,795 | 12,964 | |
Linde plc | 37,633 | 12,021 | |
LyondellBasell Industries NV Class A | 113,163 | 11,635 | |
Corteva Inc. | 137,800 | 7,921 | |
Alcoa Corp. | 81,300 | 7,319 | |
International Paper Co. | 143,800 | 6,636 | |
Avery Dennison Corp. | 37,452 | 6,516 | |
DuPont de Nemours Inc. | 81,900 | 6,026 | |
Barrick Gold Corp. (XTSE) | 206,100 | 5,056 | |
* | Cleveland-Cliffs Inc. | 152,200 | 4,902 |
Eastman Chemical Co. | 41,010 | 4,596 | |
Nutrien Ltd. | 35,100 | 3,650 | |
Steel Dynamics Inc. | 23,400 | 1,952 | |
Westrock Co. | 38,377 | 1,805 | |
Commercial Metals Co. | 43,300 | 1,802 | |
* | Allegheny Technologies Inc. | 66,900 | 1,796 |
Celanese Corp. Class A | 10,722 | 1,532 |
Shares | Market Value• ($000) | ||
Ecolab Inc. | 8,600 | 1,518 | |
Warrior Met Coal Inc. | 30,700 | 1,139 | |
Teck Resources Ltd. Class B | 25,000 | 1,010 | |
* | Alpha Metallurgical Resources Inc. | 6,000 | 792 |
Amcor plc | 65,825 | 746 | |
PPG Industries Inc. | 4,500 | 590 | |
Sherwin-Williams Co. | 2,300 | 574 | |
Resolute Forest Products Inc. | 30,100 | 389 | |
* | Arconic Corp. | 13,900 | 356 |
Alamos Gold Inc. Class A | 32,500 | 274 | |
* | O-I Glass Inc. | 17,100 | 225 |
Materion Corp. | 2,353 | 202 | |
Wheaton Precious Metals Corp. | 3,600 | 171 | |
Worthington Industries Inc. | 2,800 | 144 | |
Tronox Holdings plc Class A | 6,800 | 135 | |
Huntsman Corp. | 3,500 | 131 | |
* | MP Materials Corp. | 1,719 | 99 |
* | Ingevity Corp. | 1,516 | 97 |
* | Diversey Holdings Ltd. | 7,500 | 57 |
Ramaco Resources Inc. | 3,310 | 52 | |
Louisiana-Pacific Corp. | 800 | 50 | |
SunCoke Energy Inc. | 5,200 | 46 | |
Newmont Corp. | 500 | 40 | |
American Vanguard Corp. | 1,900 | 39 | |
* | Sylvamo Corp. | 1,000 | 33 |
* | Constellium SE Class A | 1,174 | 21 |
* | Advanced Emissions Solutions Inc. | 1,291 | 8 |
Haynes International Inc. | 95 | 4 | |
FutureFuel Corp. | 300 | 3 | |
Innospec Inc. | 35 | 3 | |
Avient Corp. | 69 | 3 | |
Myers Industries Inc. | 71 | 2 | |
Ryerson Holding Corp. | 49 | 2 | |
* | Equinox Gold Corp. | 200 | 2 |
* | Ferroglobe plc | 275 | 2 |
Chemours Co. | 44 | 1 | |
* | Flotek Industries Inc. | 653 | 1 |
Hecla Mining Co. | 200 | 1 | |
Minerals Technologies Inc. | 18 | 1 | |
Tredegar Corp. | 100 | 1 | |
Osisko Gold Royalties Ltd. (XTSE) | 100 | 1 | |
Yamana Gold Inc. | 100 | 1 | |
* | Novagold Resources Inc. | 100 | 1 |
Orion Engineered Carbons SA | 80 | 1 | |
First Majestic Silver Corp. | 100 | 1 | |
* | Gold Standard Ventures Corp. | 1,776 | 1 |
Mercer International Inc. | 100 | 1 | |
Nexa Resources SA | 116 | 1 | |
ICL Group Ltd. | 118 | 1 | |
Ecovyst Inc. | 105 | 1 | |
* | IAMGOLD Corp. | 100 | — |
252,699 | |||
Other (0.2%) | |||
SPDR S&P 500 ETF Trust | 66,700 | 30,125 | |
*,1 | Aduro Biotech Inc. CVR | 67 | — |
Shares | Market Value• ($000) | ||
*,1 | Achillion Pharma CVR Alexion Pharmaceuticals Inc. | 400 | — |
*,1 | Ferroglobe Unit | 48,731 | — |
*,1 | Contra Strongbridge CVR | 335 | — |
30,125 | |||
Real Estate (2.5%) | |||
Extra Space Storage Inc. | 236,696 | 48,665 | |
Public Storage | 105,039 | 40,995 | |
Regency Centers Corp. | 511,447 | 36,487 | |
Simon Property Group Inc. | 254,904 | 33,535 | |
* | CBRE Group Inc. Class A | 274,112 | 25,087 |
Ventas Inc. | 366,676 | 22,646 | |
Iron Mountain Inc. | 390,866 | 21,658 | |
American Tower Corp. | 74,200 | 18,640 | |
Crown Castle International Corp. | 88,700 | 16,374 | |
Equity Residential | 178,238 | 16,027 | |
Weyerhaeuser Co. | 277,462 | 10,516 | |
Federal Realty Investment Trust | 65,462 | 7,991 | |
AvalonBay Communities Inc. | 31,800 | 7,898 | |
Apartment Income REIT Corp. | 91,800 | 4,908 | |
Welltower Inc. | 37,600 | 3,615 | |
SBA Communications Corp. Class A | 7,100 | 2,443 | |
Mid-America Apartment Communities Inc. | 6,658 | 1,394 | |
Host Hotels & Resorts Inc. | 63,502 | 1,234 | |
Alexandria Real Estate Equities Inc. | 5,900 | 1,187 | |
Essex Property Trust Inc. | 2,600 | 898 | |
Newmark Group Inc. Class A | 48,552 | 773 | |
Duke Realty Corp. | 11,798 | 685 | |
Healthpeak Properties Inc. | 18,200 | 625 | |
Innovative Industrial Properties Inc. | 2,500 | 513 | |
* | Realogy Holdings Corp. | 29,000 | 455 |
LXP Industrial Trust | 24,116 | 379 | |
Invitation Homes Inc. | 8,500 | 342 | |
American Homes 4 Rent Class A | 4,641 | 186 | |
UDR Inc. | 2,900 | 166 | |
iStar Inc. | 4,600 | 108 | |
Service Properties Trust | 11,800 | 104 | |
* | Hersha Hospitality Trust Class A | 10,136 | 92 |
Essential Properties Realty Trust Inc. | 3,600 | 91 | |
Broadstone Net Lease Inc. | 3,410 | 74 | |
CIM Commercial Trust Corp. | 5,384 | 42 | |
Diversified Healthcare Trust | 12,900 | 41 | |
MGM Growth Properties LLC Class A | 687 | 27 | |
Douglas Elliman Inc. | 1,401 | 10 | |
Independence Realty Trust Inc. | 300 | 8 | |
Uniti Group Inc. | 600 | 8 | |
* | Power REIT | 200 | 8 |
Shares | Market Value• ($000) | ||
First Industrial Realty Trust Inc. | 69 | 4 | |
Medical Properties Trust Inc. | 200 | 4 | |
Prologis Inc. | 27 | 4 | |
JBG SMITH Properties | 96 | 3 | |
National Storage Affiliates Trust | 49 | 3 | |
Sabra Health Care REIT Inc. | 189 | 3 | |
Tanger Factory Outlet Centers Inc. | 200 | 3 | |
Urban Edge Properties | 171 | 3 | |
Alpine Income Property Trust Inc. | 155 | 3 | |
Orion Office REIT Inc. | 190 | 3 | |
Acadia Realty Trust | 98 | 2 | |
City Office REIT Inc. | 95 | 2 | |
Getty Realty Corp. | 56 | 2 | |
Gladstone Commercial Corp. | 70 | 2 | |
Macerich Co. | 100 | 2 | |
Physicians Realty Trust | 100 | 2 | |
SITE Centers Corp. | 100 | 2 | |
* | Summit Hotel Properties Inc. | 158 | 2 |
Urstadt Biddle Properties Inc. Class A | 99 | 2 | |
Vornado Realty Trust | 36 | 2 | |
* | Cushman & Wakefield plc | 75 | 2 |
SL Green Realty Corp. | 30 | 2 | |
Brandywine Realty Trust | 100 | 1 | |
CorEnergy Infrastructure Trust Inc. | 274 | 1 | |
* | DiamondRock Hospitality Co. | 60 | 1 |
Empire State Realty Trust Inc. Class A | 100 | 1 | |
Farmland Partners Inc. | 100 | 1 | |
Kite Realty Group Trust | 62 | 1 | |
Plymouth Industrial REIT Inc. | 46 | 1 | |
RLJ Lodging Trust | 100 | 1 | |
RMR Group Inc. Class A | 40 | 1 | |
* | Sunstone Hotel Investors Inc. | 100 | 1 |
* | Altisource Portfolio Solutions SA | 100 | 1 |
* | Digitalbridge Group Inc. | 100 | 1 |
* | Ashford Hospitality Trust Inc. | 100 | 1 |
Hudson Pacific Properties Inc. | 6 | — | |
Kennedy-Wilson Holdings Inc. | 17 | — | |
Outfront Media Inc. | 2 | — | |
Retail Value Inc. | 70 | — | |
* | Apartment Investment and Management Co. Class A | 18 | — |
327,005 | |||
Utilities (1.7%) | |||
American Electric Power Co. Inc. | 278,862 | 27,822 | |
Dominion Energy Inc. | 318,300 | 27,046 | |
AES Corp. | 959,073 | 24,677 | |
NiSource Inc. | 760,789 | 24,193 | |
Evergy Inc. | 346,950 | 23,711 |
Shares | Market Value• ($000) | ||
Duke Energy Corp. | 160,698 | 17,943 | |
PPL Corp. | 543,903 | 15,534 | |
FirstEnergy Corp. | 330,030 | 15,135 | |
NRG Energy Inc. | 315,260 | 12,093 | |
Constellation Energy Corp. | 204,123 | 11,482 | |
Exelon Corp. | 159,646 | 7,604 | |
Pinnacle West Capital Corp. | 32,803 | 2,562 | |
Eversource Energy | 14,250 | 1,257 | |
Consolidated Edison Inc. | 12,600 | 1,193 | |
DTE Energy Co. | 8,700 | 1,150 | |
CenterPoint Energy Inc. | 33,300 | 1,020 | |
WEC Energy Group Inc. | 7,200 | 719 | |
CMS Energy Corp. | 3,400 | 238 | |
Avangrid Inc. | 1,000 | 47 | |
Ameren Corp. | 100 | 9 | |
Southern Co. | 97 | 7 | |
Edison International | 9 | 1 | |
Via Renewables Inc. Class A | 162 | 1 | |
215,444 | |||
Total Common Stocks (Cost $8,185,554) | 12,668,826 | ||
Temporary Cash Investments (2.6%) | |||
Money Market Fund (2.6%) | |||
3,4 | Vanguard Market Liquidity Fund, 0.312% (Cost $338,153) | 3,382,806 | 338,247 |
Total Investments (99.9%) (Cost $8,523,707) | 13,007,073 | ||
Other Assets and Liabilities—Net (0.1%) | 12,131 | ||
Net Assets (100%) | 13,019,204 | ||
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 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $465,000. |
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 $510,000 was received for securities on loan, of which $509,000 is held in Vanguard Market Liquidity Fund and $1,000 is held in cash. |
ADR—American Depositary Receipt. | |
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 | June 2022 | 1,486 | 336,635 | 23,361 |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $8,185,554) | 12,668,826 |
Affiliated Issuers (Cost $338,153) | 338,247 |
Total Investments in Securities | 13,007,073 |
Investment in Vanguard | 428 |
Cash | 1 |
Cash Collateral Pledged—Futures Contracts | 17,834 |
Receivables for Investment Securities Sold | 35,418 |
Receivables for Accrued Income | 8,000 |
Receivables for Capital Shares Issued | 3,459 |
Total Assets | 13,072,213 |
Liabilities | |
Due to Custodian | 14 |
Payables for Investment Securities Purchased | 36,305 |
Collateral for Securities on Loan | 510 |
Payables to Investment Advisor | 2,476 |
Payables for Capital Shares Redeemed | 7,919 |
Payables to Vanguard | 937 |
Variation Margin Payable—Futures Contracts | 4,848 |
Total Liabilities | 53,009 |
Net Assets | 13,019,204 |
1 Includes $465 of securities on loan. | |
At March 31, 2022, net assets consisted of: | |
Paid-in Capital | 7,917,465 |
Total Distributable Earnings (Loss) | 5,101,739 |
Net Assets | 13,019,204 |
Investor Shares—Net Assets | |
Applicable to 53,725,361 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,298,387 |
Net Asset Value Per Share—Investor Shares | $61.39 |
Admiral Shares—Net Assets | |
Applicable to 96,998,164 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 9,720,817 |
Net Asset Value Per Share—Admiral Shares | $100.22 |
Six Months Ended March 31, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 91,294 |
Interest2 | 195 |
Securities Lending—Net | 25 |
Total Income | 91,514 |
Expenses | |
Investment Advisory Fees—Note B | |
Basic Fee | 6,081 |
Performance Adjustment | (1,110) |
The Vanguard Group—Note C | |
Management and Administrative—Investor Shares | 3,645 |
Management and Administrative—Admiral Shares | 6,441 |
Marketing and Distribution—Investor Shares | 154 |
Marketing and Distribution—Admiral Shares | 210 |
Custodian Fees | 72 |
Shareholders’ Reports—Investor Shares | 14 |
Shareholders’ Reports—Admiral Shares | 52 |
Trustees’ Fees and Expenses | 3 |
Other Expenses | 10 |
Total Expenses | 15,572 |
Net Investment Income | 75,942 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | 754,992 |
Futures Contracts | (13,863) |
Realized Net Gain (Loss) | 741,129 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 58,439 |
Futures Contracts | 32,973 |
Change in Unrealized Appreciation (Depreciation) | 91,412 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 908,483 |
1 | Dividends are net of foreign withholding taxes of $42,000. |
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 $188,000, ($31,000), $6,000, and ($13,000), respectively. Purchases and sales are for temporary cash investment purposes. |
Six Months Ended March 31, 2022 | Year Ended September 30, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 75,942 | 166,194 | |
Realized Net Gain (Loss) | 741,129 | 1,933,766 | |
Change in Unrealized Appreciation (Depreciation) | 91,412 | 1,198,937 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 908,483 | 3,298,897 | |
Distributions | |||
Investor Shares | (445,324) | (191,602) | |
Admiral Shares | (1,393,882) | (572,128) | |
Total Distributions | (1,839,206) | (763,730) | |
Capital Share Transactions | |||
Investor Shares | 314,828 | (225,705) | |
Admiral Shares | 609,180 | (1,148,490) | |
Net Increase (Decrease) from Capital Share Transactions | 924,008 | (1,374,195) | |
Total Increase (Decrease) | (6,715) | 1,160,972 | |
Net Assets | |||
Beginning of Period | 13,025,919 | 11,864,947 | |
End of Period | 13,019,204 | 13,025,919 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended March 31, 2022 | Year Ended September 30, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $66.16 | $54.15 | $49.46 | $52.17 | $46.50 | $42.16 |
Investment Operations | ||||||
Net Investment Income1 | .342 | .761 | .787 | .823 | .711 | .792 |
Net Realized and Unrealized Gain (Loss) on Investments | 4.262 | 14.991 | 6.024 | (.204) | 7.650 | 6.346 |
Total from Investment Operations | 4.604 | 15.752 | 6.811 | .619 | 8.361 | 7.138 |
Distributions | ||||||
Dividends from Net Investment Income | (.420) | (.770) | (.815) | (.766) | (.668) | (.799) |
Distributions from Realized Capital Gains | (8.954) | (2.972) | (1.306) | (2.563) | (2.023) | (1.999) |
Total Distributions | (9.374) | (3.742) | (2.121) | (3.329) | (2.691) | (2.798) |
Net Asset Value, End of Period | $61.39 | $66.16 | $54.15 | $49.46 | $52.17 | $46.50 |
Total Return2 | 7.02% | 30.22% | 14.07% | 2.21% | 18.56% | 17.66% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $3,298 | $3,205 | $2,779 | $2,860 | $2,932 | $2,982 |
Ratio of Total Expenses to Average Net Assets3 | 0.31% | 0.32% | 0.32% | 0.33% | 0.33% | 0.34% |
Ratio of Net Investment Income to Average Net Assets | 1.05% | 1.22% | 1.57% | 1.73% | 1.45% | 1.80% |
Portfolio Turnover Rate | 32% | 62% | 58% | 68% | 83% | 96% |
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 (0.02%), (0.00%), 0.00%, 0.01%, 0.00%, and 0.00%. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended March 31, 2022 | Year Ended September 30, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $108.01 | $88.40 | $80.74 | $85.16 | $75.93 | $68.83 |
Investment Operations | ||||||
Net Investment Income1 | .610 | 1.344 | 1.364 | 1.421 | 1.242 | 1.362 |
Net Realized and Unrealized Gain (Loss) on Investments | 6.970 | 24.466 | 9.842 | (.330) | 12.473 | 10.384 |
Total from Investment Operations | 7.580 | 25.810 | 11.206 | 1.091 | 13.715 | 11.746 |
Distributions | ||||||
Dividends from Net Investment Income | (.750) | (1.347) | (1.414) | (1.326) | (1.182) | (1.384) |
Distributions from Realized Capital Gains | (14.620) | (4.853) | (2.132) | (4.185) | (3.303) | (3.262) |
Total Distributions | (15.370) | (6.200) | (3.546) | (5.511) | (4.485) | (4.646) |
Net Asset Value, End of Period | $100.22 | $108.01 | $88.40 | $80.74 | $85.16 | $75.93 |
Total Return2 | 7.08% | 30.34% | 14.19% | 2.32% | 18.65% | 17.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $9,721 | $9,821 | $9,086 | $8,412 | $8,491 | $7,015 |
Ratio of Total Expenses to Average Net Assets3 | 0.21% | 0.22% | 0.22% | 0.23% | 0.23% | 0.23% |
Ratio of Net Investment Income to Average Net Assets | 1.15% | 1.33% | 1.66% | 1.83% | 1.55% | 1.91% |
Portfolio Turnover Rate | 32% | 62% | 58% | 68% | 83% | 96% |
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 (0.02%), (0.00%), 0.00%, 0.01%, 0.00%, and 0.00%. |
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 Los Angeles Capital Management LLC (formerly Los Angeles Capital Management and Equity Research, Inc.) and D. E. Shaw Investment Management, L.L.C., 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 fee of Los Angeles Capital Management LLC is subject to quarterly adjustments based on performance relative to the S&P 500 Index for the preceding five years. The basic fee of D. E. Shaw Investment Management, L.L.C., 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, |
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 | 12,668,826 | — | — | 12,668,826 |
Temporary Cash Investments | 338,247 | — | — | 338,247 |
Total | 13,007,073 | — | — | 13,007,073 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 23,361 | — | — | 23,361 |
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 March 31, 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 | 8,589,967 |
Gross Unrealized Appreciation | 4,662,743 |
Gross Unrealized Depreciation | (222,276) |
Net Unrealized Appreciation (Depreciation) | 4,440,467 |
F. | During the six months ended March 31, 2022, the fund purchased $4,106,911,000 of investment securities and sold $4,988,821,000 of investment securities, other than temporary cash investments. |
G. | Capital share transactions for each class of shares were: |
Six Months Ended March 31, 2022 | Year Ended September 30, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 254,937 | 3,921 | 489,207 | 7,921 | |
Issued in Lieu of Cash Distributions | 425,138 | 6,954 | 183,127 | 3,204 | |
Redeemed | (365,247) | (5,590) | (898,039) | (14,003) | |
Net Increase (Decrease)—Investor Shares | 314,828 | 5,285 | (225,705) | (2,878) | |
Admiral Shares | |||||
Issued | 605,956 | 5,742 | 1,359,728 | 13,235 | |
Issued in Lieu of Cash Distributions | 1,281,903 | 12,850 | 530,177 | 5,686 | |
Redeemed | (1,278,679) | (12,517) | (3,038,395) | (30,777) | |
Net Increase (Decrease)—Admiral Shares | 609,180 | 6,075 | (1,148,490) | (11,856) |
H. | Management has determined that no events or transactions occurred subsequent to March 31, 2022, that would require recognition or disclosure in these financial statements. |
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 QUANTITATIVE FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: May 19, 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 QUANTITATIVE FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: May 19, 2022
VANGUARD QUANTITATIVE FUNDS | ||
BY: | /s/ CHRISTINE BUCHANAN* | |
CHRISTINE BUCHANAN | ||
CHIEF FINANCIAL OFFICER |
Date: May 19, 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.