Vanguard® PRIMECAP Core Fund
Schedule of Investments (unaudited)
As of June 30, 2021
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
Shares | Market Value ($000) | ||
Common Stocks (97.5%) | |||
Communication Services (6.3%) | |||
* | Alphabet Inc. Class A | 97,300 | 237,586 |
* | Alphabet Inc. Class C | 75,887 | 190,197 |
* | T-Mobile US Inc. | 507,427 | 73,491 |
* | Walt Disney Co. | 382,735 | 67,273 |
Activision Blizzard Inc. | 622,000 | 59,364 | |
* | Facebook Inc. Class A | 132,710 | 46,145 |
* | Charter Communications Inc. Class A | 41,470 | 29,918 |
Electronic Arts Inc. | 139,300 | 20,035 | |
Comcast Corp. Class A | 273,338 | 15,586 | |
Nintendo Co. Ltd. | 25,650 | 14,843 | |
* | Entercom Communications Corp. Class A | 924,300 | 3,984 |
* | Altice USA Inc. Class A | 109,400 | 3,735 |
762,157 | |||
Consumer Discretionary (12.0%) | |||
Sony Group Corp. ADR | 2,001,876 | 194,622 | |
* | CarMax Inc. | 1,356,250 | 175,160 |
Whirlpool Corp. | 747,624 | 162,997 | |
* | Alibaba Group Holding Ltd. ADR | 712,400 | 161,558 |
Ross Stores Inc. | 1,024,420 | 127,028 | |
* | Mattel Inc. | 5,947,541 | 119,546 |
TJX Cos. Inc. | 1,654,600 | 111,553 | |
* | Tesla Inc. | 89,800 | 61,037 |
Newell Brands Inc. | 1,800,000 | 49,446 | |
L Brands Inc. | 655,500 | 47,235 | |
* | Amazon.com Inc. | 11,920 | 41,007 |
* | Carnival Corp. | 1,432,100 | 37,750 |
* | Royal Caribbean Cruises Ltd. | 382,900 | 32,654 |
* | Capri Holdings Ltd. | 475,000 | 27,165 |
* | Marriott International Inc. Class A | 195,990 | 26,757 |
* | Dollar Tree Inc. | 211,000 | 20,994 |
* | Burlington Stores Inc. | 39,000 | 12,558 |
Restaurant Brands International Inc. | 140,500 | 9,054 | |
Lowe's Cos. Inc. | 35,000 | 6,789 | |
* | Hilton Worldwide Holdings Inc. | 53,800 | 6,489 |
McDonald's Corp. | 24,700 | 5,705 | |
* | Las Vegas Sands Corp. | 79,600 | 4,194 |
VF Corp. | 50,000 | 4,102 | |
MGM Resorts International | 95,000 | 4,052 | |
* | Norwegian Cruise Line Holdings Ltd. | 68,440 | 2,013 |
* | AutoZone Inc. | 455 | 679 |
1,452,144 |
Shares | Market Value ($000) | ||
Consumer Staples (0.5%) | |||
* | BJ's Wholesale Club Holdings Inc. | 329,700 | 15,687 |
Tyson Foods Inc. Class A | 210,000 | 15,489 | |
Sysco Corp. | 161,000 | 12,518 | |
Altria Group Inc. | 209,924 | 10,009 | |
Mowi ASA | 80,000 | 2,037 | |
55,740 | |||
Energy (1.6%) | |||
Pioneer Natural Resources Co. | 594,623 | 96,638 | |
EOG Resources Inc. | 331,921 | 27,696 | |
Valero Energy Corp. | 277,800 | 21,691 | |
Cabot Oil & Gas Corp. | 1,064,850 | 18,592 | |
Cameco Corp. | 606,100 | 11,625 | |
* | Southwestern Energy Co. | 2,000,000 | 11,340 |
*,1 | Transocean Ltd. | 1,237,200 | 5,592 |
Hess Corp. | 54,490 | 4,758 | |
* | TechnipFMC plc | 59,100 | 535 |
Schlumberger NV | 7,100 | 227 | |
* | Technip Energies NV | 7,820 | 107 |
198,801 | |||
Financials (10.0%) | |||
JPMorgan Chase & Co. | 1,604,566 | 249,574 | |
Wells Fargo & Co. | 3,952,300 | 179,000 | |
Charles Schwab Corp. | 2,073,264 | 150,954 | |
Goldman Sachs Group Inc. | 333,800 | 126,687 | |
Raymond James Financial Inc. | 894,950 | 116,254 | |
Northern Trust Corp. | 988,580 | 114,300 | |
Bank of America Corp. | 2,192,459 | 90,395 | |
Discover Financial Services | 547,281 | 64,738 | |
Marsh & McLennan Cos. Inc. | 347,712 | 48,916 | |
U.S. Bancorp | 633,300 | 36,079 | |
Morgan Stanley | 165,000 | 15,129 | |
Progressive Corp. | 142,800 | 14,024 | |
CME Group Inc. | 40,650 | 8,646 | |
1,214,696 | |||
Health Care (24.4%) | |||
Eli Lilly & Co. | 2,518,172 | 577,971 | |
* | Biogen Inc. | 1,133,147 | 392,375 |
Amgen Inc. | 1,456,000 | 354,900 | |
1 | AstraZeneca plc ADR | 5,711,090 | 342,094 |
Thermo Fisher Scientific Inc. | 431,027 | 217,440 | |
Novartis AG ADR | 1,836,540 | 167,566 | |
* | Elanco Animal Health Inc. (XNYS) | 4,256,291 | 147,651 |
* | Boston Scientific Corp. | 3,029,130 | 129,526 |
Bristol-Myers Squibb Co. | 1,729,750 | 115,582 | |
Roche Holding AG | 255,478 | 96,274 | |
Zimmer Biomet Holdings Inc. | 372,000 | 59,825 | |
CVS Health Corp. | 716,180 | 59,758 | |
* | Livanova plc | 627,840 | 52,808 |
* | Illumina Inc. | 102,730 | 48,613 |
Abbott Laboratories | 418,090 | 48,469 | |
Agilent Technologies Inc. | 267,670 | 39,564 | |
2 | Siemens Healthineers AG | 533,585 | 32,716 |
* | IQVIA Holdings Inc. | 76,825 | 18,616 |
* | BioMarin Pharmaceutical Inc. | 192,670 | 16,076 |
Stryker Corp. | 47,400 | 12,311 | |
Alcon Inc. | 126,760 | 8,906 |
Shares | Market Value ($000) | ||
Medtronic plc | 60,000 | 7,448 | |
Sanofi ADR | 135,420 | 7,131 | |
Humana Inc. | 11,570 | 5,122 | |
Danaher Corp. | 7,574 | 2,033 | |
Cerner Corp. | 10,000 | 782 | |
* | Waters Corp. | 2,024 | 699 |
UnitedHealth Group Inc. | 1,688 | 676 | |
2,962,932 | |||
Industrials (16.1%) | |||
* | Southwest Airlines Co. | 6,965,169 | 369,781 |
Siemens AG (Registered) | 1,634,019 | 259,448 | |
FedEx Corp. | 844,800 | 252,029 | |
* | AECOM | 2,818,900 | 178,493 |
Jacobs Engineering Group Inc. | 976,685 | 130,309 | |
United Parcel Service Inc. Class B | 589,100 | 122,515 | |
* | Airbus SE | 697,495 | 89,874 |
* | United Airlines Holdings Inc. | 1,487,000 | 77,755 |
Caterpillar Inc. | 309,970 | 67,459 | |
* | TransDigm Group Inc. | 85,150 | 55,117 |
* | Delta Air Lines Inc. | 1,129,010 | 48,841 |
* | American Airlines Group Inc. | 2,234,300 | 47,389 |
Textron Inc. | 656,400 | 45,141 | |
Union Pacific Corp. | 177,000 | 38,928 | |
* | XPO Logistics Inc. | 235,100 | 32,888 |
General Dynamics Corp. | 173,000 | 32,569 | |
Carrier Global Corp. | 440,000 | 21,384 | |
AMETEK Inc. | 143,090 | 19,102 | |
Deere & Co. | 52,620 | 18,560 | |
Otis Worldwide Corp. | 180,000 | 14,719 | |
CSX Corp. | 339,000 | 10,875 | |
Rockwell Automation Inc. | 26,200 | 7,494 | |
L3Harris Technologies Inc. | 34,000 | 7,349 | |
Science Applications International Corp. | 80,000 | 7,018 | |
Pentair plc | 87,310 | 5,892 | |
Old Dominion Freight Line Inc. | 4,500 | 1,142 | |
1,962,071 | |||
Information Technology (25.1%) | |||
Microsoft Corp. | 1,426,160 | 386,347 | |
Texas Instruments Inc. | 1,674,080 | 321,926 | |
KLA Corp. | 752,970 | 244,120 | |
Intel Corp. | 3,727,650 | 209,270 | |
Applied Materials Inc. | 1,200,300 | 170,923 | |
* | Flex Ltd. | 8,386,960 | 149,875 |
* | Micron Technology Inc. | 1,723,020 | 146,422 |
Telefonaktiebolaget LM Ericsson ADR | 10,188,945 | 128,177 | |
NetApp Inc. | 1,447,100 | 118,402 | |
Asml Holding NV GDR (Registered) | 166,075 | 114,731 | |
QUALCOMM Inc. | 712,660 | 101,861 | |
Intuit Inc. | 205,000 | 100,485 | |
* | Adobe Inc. | 168,400 | 98,622 |
Hewlett Packard Enterprise Co. | 6,644,717 | 96,880 | |
HP Inc. | 2,927,223 | 88,373 | |
Analog Devices Inc. | 484,000 | 83,325 | |
* | PayPal Holdings Inc. | 272,025 | 79,290 |
Visa Inc. Class A | 259,200 | 60,606 | |
Cisco Systems Inc. | 1,109,400 | 58,798 | |
Apple Inc. | 375,000 | 51,360 |
Shares | Market Value ($000) | ||
Oracle Corp. | 641,000 | 49,895 | |
Corning Inc. | 1,131,262 | 46,269 | |
* | Keysight Technologies Inc. | 211,400 | 32,642 |
NVIDIA Corp. | 28,630 | 22,907 | |
Teradyne Inc. | 144,800 | 19,397 | |
*,1 | BlackBerry Ltd. | 1,328,700 | 16,237 |
* | WEX Inc. | 69,980 | 13,569 |
* | Western Digital Corp. | 188,600 | 13,423 |
Mastercard Inc. Class A | 29,000 | 10,588 | |
Fidelity National Information Services Inc. | 64,100 | 9,081 | |
Jabil Inc. | 110,000 | 6,393 | |
* | Nokia Oyj ADR | 360,000 | 1,915 |
* | Ciena Corp. | 14,000 | 796 |
3,052,905 | |||
Materials (1.4%) | |||
Albemarle Corp. | 459,065 | 77,334 | |
* | Glencore plc | 5,985,915 | 25,692 |
DuPont de Nemours Inc. | 328,533 | 25,432 | |
Dow Inc. | 282,500 | 17,877 | |
Corteva Inc. | 268,793 | 11,921 | |
Freeport-McMoRan Inc. | 210,000 | 7,793 | |
Greif Inc. Class B | 30,000 | 1,770 | |
167,819 | |||
Real Estate (0.1%) | |||
American Homes 4 Rent Class A | 224,000 | 8,702 | |
Healthpeak Properties Inc. | 43,000 | 1,432 | |
10,134 | |||
Total Common Stocks (Cost $4,637,133) | 11,839,399 | ||
Temporary Cash Investments (4.4%) | |||
Money Market Fund (4.4%) | |||
3,4 | Vanguard Market Liquidity Fund, 0.056% (Cost $529,464) | 5,295,588 | 529,559 |
Total Investments (101.9%) (Cost $5,166,597) | 12,368,958 | ||
Other Assets and Liabilities—Net (-1.9%) | (225,772) | ||
Net Assets (100%) | 12,143,186 | ||
Cost is in $000. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $137,507,000. |
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 June 30, 2021, the aggregate value was $32,716,000, representing 0.3% 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 $142,428,000 was received for securities on loan. |
ADR—American Depositary Receipt. | |
GDR—Global Depositary Receipt. |
A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued at their fair values calculated according to
procedures adopted by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
B. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
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—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund’s investments as of June 30, 2021, based on the inputs used to value them:
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 11,312,816 | 526,583 | — | 11,839,399 |
Temporary Cash Investments | 529,559 | — | — | 529,559 |
Total | 11,842,375 | 526,583 | — | 12,368,958 |