Vanguard® S&P Mid-Cap 400 Index Fund
Schedule of Investments (unaudited)
As of November 30, 2020
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 (100.0%) | ||||||
Communication Services (1.7%) | ||||||
Cable One Inc. | 6,588 | 13,049 | ||||
New York Times Co. Class A | 175,549 | 7,533 | ||||
TEGNA Inc. | 266,580 | 3,841 | ||||
* | TripAdvisor Inc. | 117,066 | 3,056 | |||
* | Yelp Inc. | 83,433 | 2,665 | |||
World Wrestling Entertainment Inc. Class A | 56,668 | 2,439 | ||||
Telephone & Data Systems Inc. | 120,821 | 2,293 | ||||
Cinemark Holdings Inc. | 129,968 | 2,008 | ||||
John Wiley & Sons Inc. Class A | 53,216 | 1,838 | ||||
*,1 | AMC Networks Inc. Class A | 35,924 | 1,184 | |||
39,906 | ||||||
Consumer Discretionary (14.9%) | ||||||
* | Caesars Entertainment Inc. | 242,482 | 16,518 | |||
* | Penn National Gaming Inc. Class B | 175,150 | 12,261 | |||
Dunkin' Brands Group Inc. | 100,024 | 10,637 | ||||
* | Five Below Inc. | 67,895 | 10,619 | |||
Service Corp. International | 214,256 | 10,421 | ||||
Williams-Sonoma Inc. | 94,587 | 10,354 | ||||
Gentex Corp. | 298,846 | 9,742 | ||||
Lear Corp. | 66,319 | 9,480 | ||||
Lithia Motors Inc. Class A | 31,153 | 9,013 | ||||
* | Deckers Outdoor Corp. | 34,068 | 8,673 | |||
* | RH | 18,764 | 8,503 | |||
* | Grubhub Inc. | 112,202 | 7,892 | |||
Churchill Downs Inc. | 43,145 | 7,763 | ||||
Harley-Davidson Inc. | 186,322 | 7,507 | ||||
Brunswick Corp. | 96,240 | 7,183 | ||||
* | TopBuild Corp. | 40,216 | 7,007 | |||
Polaris Inc. | 70,100 | 6,730 | ||||
Toll Brothers Inc. | 139,601 | 6,610 | ||||
* | Mattel Inc. | 421,778 | 6,533 | |||
Wyndham Hotels & Resorts Inc. | 113,272 | 6,513 | ||||
Thor Industries Inc. | 67,116 | 6,477 | ||||
Marriott Vacations Worldwide Corp. | 49,920 | 6,356 | ||||
* | Helen of Troy Ltd. | 30,791 | 6,219 | |||
Kohl's Corp. | 191,883 | 6,179 | ||||
* | Ollie's Bargain Outlet Holdings Inc. | 69,155 | 6,090 | |||
Texas Roadhouse Inc. | 79,332 | 6,013 | ||||
* | Tempur Sealy International Inc. | 233,256 | 5,876 | |||
* | Skechers U.S.A. Inc. Class A | 165,770 | 5,548 | |||
Aaron's Holdings Co. Inc. | 81,667 | 5,139 |
Shares | Market Value ($000) | |||||
* | Grand Canyon Education Inc. | 57,524 | 4,802 | |||
Wendy's Co. | 217,816 | 4,790 | ||||
Foot Locker Inc. | 126,783 | 4,742 | ||||
Carter's Inc. | 53,089 | 4,724 | ||||
Wingstop Inc. | 36,011 | 4,585 | ||||
Dick's Sporting Goods Inc. | 79,271 | 4,503 | ||||
H&R Block Inc. | 234,768 | 4,414 | ||||
* | Fox Factory Holding Corp. | 50,435 | 4,401 | |||
Wyndham Destinations Inc. | 103,736 | 4,363 | ||||
* | AutoNation Inc. | 71,107 | 4,358 | |||
Murphy USA Inc. | 33,021 | 4,233 | ||||
* | Visteon Corp. | 33,876 | 4,094 | |||
Cracker Barrel Old Country Store Inc. | 28,840 | 4,026 | ||||
* | Taylor Morrison Home Corp. | 157,863 | 3,991 | |||
KB Home | 107,194 | 3,773 | ||||
Boyd Gaming Corp. | 97,641 | 3,758 | ||||
* | Adient plc | 114,359 | 3,578 | |||
Choice Hotels International Inc. | 35,056 | 3,493 | ||||
1 | Nordstrom Inc. | 131,606 | 3,411 | |||
American Eagle Outfitters Inc. | 180,777 | 3,252 | ||||
Papa John's International Inc. | 39,970 | 3,212 | ||||
Columbia Sportswear Co. | 36,928 | 3,026 | ||||
Dana Inc. | 175,357 | 2,953 | ||||
Goodyear Tire & Rubber Co. | 282,804 | 2,947 | ||||
Six Flags Entertainment Corp. | 91,559 | 2,814 | ||||
Strategic Education Inc. | 29,625 | 2,782 | ||||
* | TRI Pointe Group Inc. | 158,178 | 2,765 | |||
Jack in the Box Inc. | 27,523 | 2,532 | ||||
* | Scientific Games Corp. | 67,812 | 2,528 | |||
* | Urban Outfitters Inc. | 83,071 | 2,275 | |||
Graham Holdings Co. Class B | 5,035 | 2,251 | ||||
* | Adtalem Global Education Inc. | 62,964 | 1,803 | |||
* | WW International Inc. | 57,204 | 1,688 | |||
350,723 | ||||||
Consumer Staples (3.7%) | ||||||
* | Boston Beer Co. Inc. Class A | 11,077 | 10,311 | |||
* | Darling Ingredients Inc. | 196,923 | 9,507 | |||
Casey's General Stores Inc. | 44,877 | 8,153 | ||||
* | Post Holdings Inc. | 76,557 | 7,232 | |||
* | BJ's Wholesale Club Holdings Inc. | 167,734 | 6,875 | |||
Ingredion Inc. | 81,449 | 6,284 | ||||
Flowers Foods Inc. | 239,333 | 5,311 | ||||
Lancaster Colony Corp. | 23,782 | 4,027 | ||||
* | Grocery Outlet Holding Corp. | 101,474 | 3,919 | |||
* | Hain Celestial Group Inc. | 101,704 | 3,916 | |||
Sanderson Farms Inc. | 24,109 | 3,296 | ||||
Nu Skin Enterprises Inc. Class A | 62,592 | 3,224 | ||||
* | Sprouts Farmers Market Inc. | 143,148 | 3,030 | |||
Energizer Holdings Inc. | 70,685 | 2,961 | ||||
* | TreeHouse Foods Inc. | 68,575 | 2,821 | |||
Coty Inc. Class A | 343,563 | 2,470 | ||||
* | Edgewell Personal Care Co. | 65,967 | 2,292 | |||
* | Pilgrim's Pride Corp. | 59,452 | 1,123 | |||
1 | Tootsie Roll Industries Inc. | 21,073 | 653 | |||
87,405 | ||||||
Energy (1.2%) | ||||||
EQT Corp. | 335,248 | 4,989 |
Shares | Market Value ($000) | |||||
Cimarex Energy Co. | 124,186 | 4,464 | ||||
Equitrans Midstream Corp. | 494,835 | 4,038 | ||||
* | WPX Energy Inc. | 491,885 | 3,502 | |||
* | ChampionX Corp. | 225,518 | 2,679 | |||
* | CNX Resources Corp. | 272,545 | 2,565 | |||
Antero Midstream Corp. | 347,051 | 2,339 | ||||
World Fuel Services Corp. | 77,055 | 2,190 | ||||
Murphy Oil Corp. | 175,254 | 1,763 | ||||
28,529 | ||||||
Financials (14.6%) | ||||||
FactSet Research Systems Inc. | 46,186 | 15,415 | ||||
Brown & Brown Inc. | 285,345 | 12,849 | ||||
RenaissanceRe Holdings Ltd. | 62,266 | 10,251 | ||||
Alleghany Corp. | 17,397 | 10,007 | ||||
Reinsurance Group of America Inc. | 82,591 | 9,521 | ||||
Eaton Vance Corp. | 138,774 | 9,295 | ||||
First Horizon Corp. | 672,406 | 8,217 | ||||
Commerce Bancshares Inc. | 121,983 | 8,046 | ||||
SEI Investments Co. | 147,789 | 7,796 | ||||
American Financial Group Inc. | 87,168 | 7,794 | ||||
East West Bancorp Inc. | 171,974 | 7,347 | ||||
Signature Bank | 65,114 | 7,305 | ||||
Prosperity Bancshares Inc. | 112,638 | 7,077 | ||||
First American Financial Corp. | 135,571 | 6,567 | ||||
Primerica Inc. | 48,051 | 6,260 | ||||
TCF Financial Corp. | 185,093 | 6,219 | ||||
Old Republic International Corp. | 343,800 | 6,161 | ||||
Essent Group Ltd. | 136,691 | 5,995 | ||||
Jefferies Financial Group Inc. | 262,594 | 5,969 | ||||
Stifel Financial Corp. | 83,370 | 5,778 | ||||
First Financial Bankshares Inc. | 172,701 | 5,772 | ||||
Cullen/Frost Bankers Inc. | 67,861 | 5,694 | ||||
Synovus Financial Corp. | 179,158 | 5,656 | ||||
Kemper Corp. | 74,690 | 5,598 | ||||
New York Community Bancorp Inc. | 564,304 | 5,468 | ||||
Janus Henderson Group plc | 183,399 | 5,232 | ||||
Hanover Insurance Group Inc. | 45,878 | 5,154 | ||||
Interactive Brokers Group Inc. Class A | 96,152 | 5,073 | ||||
Pinnacle Financial Partners Inc. | 92,259 | 4,997 | ||||
Affiliated Managers Group Inc. | 56,632 | 4,934 | ||||
MGIC Investment Corp. | 411,888 | 4,926 | ||||
SLM Corp. | 456,454 | 4,843 | ||||
Glacier Bancorp Inc. | 116,056 | 4,732 | ||||
United Bankshares Inc. | 157,867 | 4,622 | ||||
RLI Corp. | 48,122 | 4,607 | ||||
Selective Insurance Group Inc. | 72,781 | 4,499 | ||||
Evercore Inc. Class A | 49,394 | 4,491 | ||||
Valley National Bancorp | 491,337 | 4,491 | ||||
Webster Financial Corp. | 109,759 | 4,153 | ||||
Bank OZK | 147,123 | 4,114 | ||||
CIT Group Inc. | 119,814 | 4,013 | ||||
* | Brighthouse Financial Inc. | 113,238 | 3,975 | |||
Wintrust Financial Corp. | 70,116 | 3,821 | ||||
Sterling Bancorp | 236,757 | 3,783 | ||||
Umpqua Holdings Corp. | 268,093 | 3,724 | ||||
CNO Financial Group Inc. | 172,554 | 3,672 | ||||
Bank of Hawaii Corp. | 48,761 | 3,651 | ||||
UMB Financial Corp. | 52,620 | 3,579 |
Shares | Market Value ($000) | |||||
FNB Corp. | 393,600 | 3,475 | ||||
* | Texas Capital Bancshares Inc. | 61,442 | 3,435 | |||
Home BancShares Inc. | 185,065 | 3,426 | ||||
* | LendingTree Inc. | 13,291 | 3,397 | |||
PacWest Bancorp | 142,175 | 3,307 | ||||
FirstCash Inc. | 50,295 | 3,231 | ||||
Federated Hermes Inc. | 115,946 | 3,112 | ||||
BancorpSouth Bank | 117,013 | 2,966 | ||||
Hancock Whitney Corp. | 104,804 | 2,944 | ||||
Associated Banc-Corp | 186,536 | 2,858 | ||||
* | Genworth Financial Inc. Class A | 614,109 | 2,788 | |||
Cathay General Bancorp | 90,836 | 2,566 | ||||
Fulton Financial Corp. | 196,710 | 2,423 | ||||
Navient Corp. | 235,375 | 2,205 | ||||
International Bancshares Corp. | 67,568 | 2,190 | ||||
Washington Federal Inc. | 91,889 | 2,147 | ||||
Trustmark Corp. | 76,974 | 1,910 | ||||
Mercury General Corp. | 32,244 | 1,434 | ||||
342,957 | ||||||
Health Care (10.9%) | ||||||
* | Masimo Corp. | 61,467 | 15,643 | |||
* | Molina Healthcare Inc. | 72,103 | 14,718 | |||
Bio-Techne Corp. | 46,874 | 14,217 | ||||
* | Charles River Laboratories International Inc. | 60,405 | 14,166 | |||
* | Repligen Corp. | 59,373 | 11,261 | |||
Encompass Health Corp. | 120,902 | 9,742 | ||||
* | Amedisys Inc. | 39,479 | 9,664 | |||
* | Jazz Pharmaceuticals plc | 67,433 | 9,488 | |||
Chemed Corp. | 19,355 | 9,257 | ||||
* | Penumbra Inc. | 40,830 | 9,060 | |||
* | Quidel Corp. | 46,419 | 9,054 | |||
* | PRA Health Sciences Inc. | 77,765 | 8,725 | |||
* | Arrowhead Pharmaceuticals Inc. | 124,378 | 7,777 | |||
Hill-Rom Holdings Inc. | 80,984 | 7,682 | ||||
* | LHC Group Inc. | 38,411 | 7,541 | |||
* | Exelixis Inc. | 375,693 | 7,198 | |||
* | United Therapeutics Corp. | 54,002 | 7,163 | |||
* | Haemonetics Corp. | 61,644 | 6,957 | |||
* | HealthEquity Inc. | 93,242 | 6,685 | |||
* | Halozyme Therapeutics Inc. | 156,628 | 6,124 | |||
* | Syneos Health Inc. | 84,983 | 5,595 | |||
* | Globus Medical Inc. Class A | 91,620 | 5,505 | |||
* | Neogen Corp. | 64,519 | 4,789 | |||
* | Integra LifeSciences Holdings Corp. | 86,116 | 4,713 | |||
* | Acadia Healthcare Co. Inc. | 108,239 | 4,595 | |||
* | Emergent BioSolutions Inc. | 54,741 | 4,485 | |||
* | ICU Medical Inc. | 23,695 | 4,471 | |||
* | Medpace Holdings Inc. | 33,183 | 4,259 | |||
* | Tenet Healthcare Corp. | 128,270 | 4,032 | |||
* | Nektar Therapeutics | 217,805 | 3,570 | |||
* | LivaNova plc | 59,064 | 3,122 | |||
Patterson Cos. Inc. | 105,248 | 2,922 | ||||
* | NuVasive Inc. | 62,204 | 2,881 | |||
Cantel Medical Corp. | 45,532 | 2,706 | ||||
* | Avanos Medical Inc. | 58,051 | 2,461 |
Shares | Market Value ($000) | |||||
* | Prestige Consumer Healthcare Inc. | 60,921 | 2,167 | |||
*,1 | Ligand Pharmaceuticals Inc. | 19,602 | 1,654 | |||
256,049 | ||||||
Industrials (18.0%) | ||||||
* | Generac Holdings Inc. | 76,347 | 16,460 | |||
Graco Inc. | 202,701 | 13,731 | ||||
Nordson Corp. | 65,623 | 13,375 | ||||
Lennox International Inc. | 42,324 | 12,182 | ||||
* | Sunrun Inc. | 188,199 | 12,060 | |||
* | XPO Logistics Inc. | 111,037 | 11,845 | |||
Toro Co. | 130,460 | 11,834 | ||||
Hubbell Inc. | 65,917 | 10,652 | ||||
* | Trex Co. Inc. | 140,743 | 10,530 | |||
* | AECOM | 194,996 | 10,118 | |||
* | IAA Inc. | 162,861 | 9,759 | |||
* | Axon Enterprise Inc. | 77,179 | 9,701 | |||
Carlisle Cos. Inc. | 66,353 | 9,610 | ||||
Owens Corning | 131,313 | 9,569 | ||||
* | Middleby Corp. | 67,623 | 9,196 | |||
Watsco Inc. | 39,904 | 9,073 | ||||
Lincoln Electric Holdings Inc. | 72,171 | 8,300 | ||||
Donaldson Co. Inc. | 153,340 | 8,164 | ||||
Woodward Inc. | 70,526 | 7,887 | ||||
* | Stericycle Inc. | 111,230 | 7,835 | |||
Tetra Tech Inc. | 65,519 | 7,813 | ||||
ITT Inc. | 105,021 | 7,628 | ||||
CoreLogic Inc. | 96,608 | 7,487 | ||||
AGCO Corp. | 74,663 | 6,907 | ||||
Oshkosh Corp. | 82,798 | 6,665 | ||||
MSA Safety Inc. | 43,970 | 6,571 | ||||
Knight-Swift Transportation Holdings Inc. | 153,143 | 6,323 | ||||
Landstar System Inc. | 46,664 | 6,133 | ||||
ManpowerGroup Inc. | 70,609 | 6,118 | ||||
Timken Co. | 82,185 | 6,036 | ||||
Regal Beloit Corp. | 49,343 | 5,874 | ||||
Curtiss-Wright Corp. | 50,559 | 5,827 | ||||
EMCOR Group Inc. | 66,768 | 5,754 | ||||
Acuity Brands Inc. | 48,208 | 5,723 | ||||
* | Builders FirstSource Inc. | 141,975 | 5,311 | |||
Hexcel Corp. | 101,581 | 5,030 | ||||
* | JetBlue Airways Corp. | 331,415 | 5,001 | |||
* | ASGN Inc. | 63,859 | 4,992 | |||
Simpson Manufacturing Co. Inc. | 52,886 | 4,860 | ||||
* | Mercury Systems Inc. | 68,133 | 4,852 | |||
nVent Electric plc | 206,782 | 4,756 | ||||
* | FTI Consulting Inc. | 44,521 | 4,676 | |||
MSC Industrial Direct Co. Inc. Class A | 55,386 | 4,615 | ||||
* | Clean Harbors Inc. | 62,285 | 4,508 | |||
* | Colfax Corp. | 122,452 | 4,418 | |||
Valmont Industries Inc. | 25,999 | 4,237 | ||||
EnerSys | 51,695 | 4,229 | ||||
Crane Co. | 60,042 | 4,175 | ||||
Brink's Co. | 61,498 | 4,127 | ||||
Ryder System Inc. | 65,520 | 3,880 | ||||
* | MasTec Inc. | 68,296 | 3,873 | |||
Insperity Inc. | 43,925 | 3,756 | ||||
* | Kirby Corp. | 73,106 | 3,699 | |||
* | Univar Solutions Inc. | 205,850 | 3,685 |
Shares | Market Value ($000) | |||||
Kennametal Inc. | 100,984 | 3,533 | ||||
GATX Corp. | 42,624 | 3,400 | ||||
KAR Auction Services Inc. | 156,842 | 2,831 | ||||
Werner Enterprises Inc. | 70,442 | 2,817 | ||||
Terex Corp. | 84,453 | 2,618 | ||||
Fluor Corp. | 151,414 | 2,615 | ||||
Herman Miller Inc. | 71,451 | 2,546 | ||||
Trinity Industries Inc. | 108,017 | 2,468 | ||||
* | Dycom Industries Inc. | 38,640 | 2,429 | |||
* | Avis Budget Group Inc. | 62,568 | 2,201 | |||
Healthcare Services Group Inc. | 90,326 | 2,138 | ||||
HNI Corp. | 51,768 | 1,887 | ||||
422,903 | ||||||
Information Technology (16.6%) | ||||||
* | Enphase Energy Inc. | 153,216 | 20,925 | |||
* | Trimble Inc. | 304,237 | 18,215 | |||
* | SolarEdge Technologies Inc. | 60,941 | 16,940 | |||
* | Fair Isaac Corp. | 35,258 | 16,669 | |||
Monolithic Power Systems Inc. | 51,331 | 16,424 | ||||
Cognex Corp. | 210,410 | 15,810 | ||||
* | Ceridian HCM Holding Inc. | 157,843 | 15,219 | |||
* | PTC Inc. | 127,050 | 13,702 | |||
* | Cree Inc. | 133,359 | 12,054 | |||
Universal Display Corp. | 52,109 | 11,935 | ||||
* | First Solar Inc. | 103,073 | 9,630 | |||
* | WEX Inc. | 53,606 | 9,287 | |||
MKS Instruments Inc. | 67,016 | 9,247 | ||||
* | Paylocity Holding Corp. | 45,142 | 8,875 | |||
* | Arrow Electronics Inc. | 94,381 | 8,650 | |||
* | II-VI Inc. | 126,053 | 8,528 | |||
* | Ciena Corp. | 186,825 | 8,370 | |||
SYNNEX Corp. | 50,087 | 8,029 | ||||
* | Lumentum Holdings Inc. | 91,435 | 7,898 | |||
* | Manhattan Associates Inc. | 77,227 | 7,896 | |||
* | CACI International Inc. Class A | 30,506 | 7,239 | |||
Littelfuse Inc. | 29,594 | 7,118 | ||||
CDK Global Inc. | 147,750 | 7,077 | ||||
Science Applications International Corp. | 70,717 | 6,544 | ||||
Jabil Inc. | 164,774 | 6,298 | ||||
* | Silicon Laboratories Inc. | 53,255 | 6,242 | |||
National Instruments Corp. | 159,840 | 5,983 | ||||
* | Cirrus Logic Inc. | 71,020 | 5,689 | |||
CMC Materials Inc. | 35,341 | 5,452 | ||||
MAXIMUS Inc. | 74,565 | 5,355 | ||||
* | Semtech Corp. | 79,252 | 5,347 | |||
* | Sailpoint Technologies Holdings Inc. | 110,314 | 5,136 | |||
* | J2 Global Inc. | 54,447 | 4,879 | |||
KBR Inc. | 173,199 | 4,810 | ||||
* | LiveRamp Holdings Inc. | 80,144 | 4,689 | |||
* | ACI Worldwide Inc. | 141,629 | 4,614 | |||
* | NCR Corp. | 156,281 | 4,324 | |||
Sabre Corp. | 379,315 | 4,267 | ||||
Alliance Data Systems Corp. | 58,080 | 4,248 | ||||
* | Qualys Inc. | 41,091 | 3,904 | |||
Perspecta Inc. | 166,353 | 3,730 | ||||
Avnet Inc. | 120,292 | 3,651 | ||||
* | Coherent Inc. | 29,533 | 3,597 | |||
Blackbaud Inc. | 60,383 | 3,327 |
Shares | Market Value ($000) | |||||
* | Synaptics Inc. | 41,689 | 3,242 | |||
Vishay Intertechnology Inc. | 160,900 | 3,115 | ||||
* | Teradata Corp. | 132,286 | 2,901 | |||
* | CommVault Systems Inc. | 56,302 | 2,689 | |||
* | ViaSat Inc. | 77,827 | 2,646 | |||
InterDigital Inc. | 37,388 | 2,240 | ||||
Belden Inc. | 54,011 | 2,078 | ||||
* | NetScout Systems Inc. | 87,937 | 2,059 | |||
388,793 | ||||||
Materials (5.7%) | ||||||
RPM International Inc. | 158,009 | 13,906 | ||||
AptarGroup Inc. | 78,389 | 9,902 | ||||
Reliance Steel & Aluminum Co. | 77,563 | 9,137 | ||||
Royal Gold Inc. | 79,767 | 8,812 | ||||
Steel Dynamics Inc. | 243,062 | 8,801 | ||||
Scotts Miracle-Gro Co. | 49,497 | 8,700 | ||||
Sonoco Products Co. | 122,028 | 7,085 | ||||
Valvoline Inc. | 225,085 | 5,130 | ||||
Ashland Global Holdings Inc. | 66,196 | 4,976 | ||||
Chemours Co. | 199,813 | 4,862 | ||||
Louisiana-Pacific Corp. | 136,642 | 4,677 | ||||
Eagle Materials Inc. | 50,802 | 4,623 | ||||
Avient Corp. | 111,300 | 4,068 | ||||
United States Steel Corp. | 267,467 | 3,795 | ||||
Olin Corp. | 172,980 | 3,787 | ||||
Sensient Technologies Corp. | 51,572 | 3,699 | ||||
* | Ingevity Corp. | 50,272 | 3,347 | |||
NewMarket Corp. | 8,915 | 3,296 | ||||
Silgan Holdings Inc. | 95,888 | 3,241 | ||||
Commercial Metals Co. | 144,510 | 2,877 | ||||
Cabot Corp. | 68,527 | 2,838 | ||||
Compass Minerals International Inc. | 41,196 | 2,573 | ||||
Minerals Technologies Inc. | 41,411 | 2,512 | ||||
Worthington Industries Inc. | 43,767 | 2,264 | ||||
O-I Glass Inc. | 190,496 | 2,156 | ||||
Domtar Corp. | 66,931 | 2,015 | ||||
Greif Inc. Class A | 32,049 | 1,558 | ||||
134,637 | ||||||
Real Estate (9.1%) | ||||||
Medical Properties Trust Inc. | 642,724 | 12,469 | ||||
Camden Property Trust | 118,362 | 11,698 | ||||
CyrusOne Inc. | 142,079 | 9,933 | ||||
Omega Healthcare Investors Inc. | 275,884 | 9,717 | ||||
STORE Capital Corp. | 277,240 | 9,027 | ||||
Lamar Advertising Co. Class A | 105,014 | 8,360 | ||||
* | Jones Lang LaSalle Inc. | 62,943 | 8,327 | |||
National Retail Properties Inc. | 210,907 | 7,951 | ||||
Kilroy Realty Corp. | 127,394 | 7,791 | ||||
Rexford Industrial Realty Inc. | 150,472 | 7,211 | ||||
American Campus Communities Inc. | 167,323 | 6,659 | ||||
EastGroup Properties Inc. | 47,819 | 6,519 | ||||
CoreSite Realty Corp. | 51,710 | 6,484 | ||||
First Industrial Realty Trust Inc. | 154,661 | 6,477 | ||||
Life Storage Inc. | 57,045 | 6,259 | ||||
Douglas Emmett Inc. | 200,446 | 6,208 | ||||
Cousins Properties Inc. | 180,670 | 6,036 | ||||
Brixmor Property Group Inc. | 360,531 | 5,505 |
Shares | Market Value ($000) | |||||
Healthcare Realty Trust Inc. | 165,492 | 4,882 | ||||
Hudson Pacific Properties Inc. | 186,576 | 4,851 | ||||
Highwoods Properties Inc. | 126,418 | 4,842 | ||||
Park Hotels & Resorts Inc. | 286,701 | 4,679 | ||||
Rayonier Inc. | 166,102 | 4,679 | ||||
Spirit Realty Capital Inc. | 125,389 | 4,619 | ||||
Physicians Realty Trust | 253,272 | 4,394 | ||||
JBG SMITH Properties | 136,772 | 4,204 | ||||
Sabra Health Care REIT Inc. | 250,183 | 4,123 | ||||
PotlatchDeltic Corp. | 81,421 | 3,789 | ||||
Corporate Office Properties Trust | 136,595 | 3,638 | ||||
EPR Properties | 90,557 | 3,262 | ||||
PS Business Parks Inc. | 24,436 | 3,221 | ||||
Taubman Centers Inc. | 75,173 | 3,211 | ||||
Weingarten Realty Investors | 146,164 | 3,056 | ||||
Pebblebrook Hotel Trust | 158,982 | 2,941 | ||||
Service Properties Trust | 200,469 | 2,378 | ||||
Urban Edge Properties | 133,746 | 1,736 | ||||
1 | Macerich Co. | 136,874 | 1,369 | |||
212,505 | ||||||
Utilities (3.6%) | ||||||
Essential Utilities Inc. | 271,031 | 12,272 | ||||
UGI Corp. | 253,141 | 8,981 | ||||
OGE Energy Corp. | 243,272 | 7,880 | ||||
MDU Resources Group Inc. | 243,823 | 6,081 | ||||
IDACORP Inc. | 61,366 | 5,559 | ||||
ONE Gas Inc. | 64,375 | 5,097 | ||||
Hawaiian Electric Industries Inc. | 132,814 | 4,759 | ||||
PNM Resources Inc. | 96,903 | 4,759 | ||||
Black Hills Corp. | 76,333 | 4,643 | ||||
National Fuel Gas Co. | 110,663 | 4,556 | ||||
Southwest Gas Holdings Inc. | 68,031 | 4,371 | ||||
Spire Inc. | 62,667 | 4,008 | ||||
New Jersey Resources Corp. | 116,754 | 3,856 | ||||
NorthWestern Corp. | 61,581 | 3,572 | ||||
ALLETE Inc. | 63,174 | 3,553 | ||||
83,947 | ||||||
Total Common Stocks (Cost $2,033,121) | 2,348,354 | |||||
Coupon | ||||||
Temporary Cash Investments (0.3%) | ||||||
Money Market Fund (0.3%) | ||||||
2,3 | Vanguard Market Liquidity Fund | 0.109% | 72,203 | 7,220 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
U.S. Government and Agency Obligations (0.0%) | ||||||
4 | United States Treasury Bill | 0.096% | 1/28/21 | 270 | 270 | |
Total Temporary Cash Investments (Cost $7,488) | 7,490 | |||||
Total Investments (100.3%) (Cost $2,040,609) | 2,355,844 | |||||
Other Assets and Liabilities—Net (-0.3%) | (6,115) | |||||
Net Assets (100%) | 2,349,729 |
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 $7,607,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $8,287,000 was received for securities on loan, of which $7,220,000 is held in Vanguard Market Liquidity Fund and $1,067,000 is held in cash. |
4 | Securities with a value of $83,000 have been segregated as initial margin for open futures contracts. |
REIT—Real Estate Investment Trust. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P Mid-Cap 400 Index | December 2020 | 5 | 1,084 | 5 |
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 materially affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.
B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund's investments and derivatives as of November 30, 2020, based on the inputs used to value them:
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 2,348,354 | — | — | 2,348,354 |
Temporary Cash Investments | 7,220 | 270 | — | 7,490 |
Total | 2,355,574 | 270 | — | 2,355,844 |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 18 | — | — | 18 |
1 | Represents variation margin on the last day of the reporting period. |