Vanguard® Tax-Managed Small-Cap Fund
Schedule of Investments (unaudited)
As of March 31, 2023
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
| Shares | Market Value ($000) | |||||
| Common Stocks (99.4%) | ||||||
| Communication Services (2.2%) | ||||||
| Cogent Communications Holdings Inc. | 374,416 | 23,858 | ||||
| Lumen Technologies Inc. | 8,099,900 | 21,465 | ||||
| * | Yelp Inc. Class A | 615,392 | 18,893 | |||
| Shutterstock Inc. | 211,785 | 15,376 | ||||
| * | Cinemark Holdings Inc. | 944,111 | 13,963 | |||
| * | Cars.com Inc. | 548,306 | 10,582 | |||
| Telephone & Data Systems Inc. | 874,394 | 9,190 | ||||
| Scholastic Corp. | 261,203 | 8,938 | ||||
| * | TechTarget Inc. | 234,244 | 8,461 | |||
| Shenandoah Telecommunications Co. | 439,795 | 8,365 | ||||
| * | Gogo Inc. | 571,355 | 8,285 | |||
| * | QuinStreet Inc. | 448,207 | 7,113 | |||
| * | Thryv Holdings Inc. | 269,268 | 6,209 | |||
| * | EW Scripps Co. Class A | 508,996 | 4,790 | |||
| * | AMC Networks Inc. Class A | 245,290 | 4,312 | |||
| ATN International Inc. | 94,658 | 3,873 | ||||
| Marcus Corp. | 213,173 | 3,411 | ||||
| * | Gannett Co. Inc. | 1,281,902 | 2,397 | |||
| * | Consolidated Communications Holdings Inc. | 641,253 | 1,654 | |||
| 181,135 | ||||||
| Consumer Discretionary (14.0%) | ||||||
| Academy Sports & Outdoors Inc. | 691,195 | 45,100 | ||||
| * | Asbury Automotive Group Inc. | 195,246 | 41,002 | |||
| Meritage Homes Corp. | 321,752 | 37,568 | ||||
| Signet Jewelers Ltd. | 400,917 | 31,183 | ||||
| Group 1 Automotive Inc. | 129,423 | 29,304 | ||||
| LCI Industries | 224,459 | 24,661 | ||||
| Installed Building Products Inc. | 207,607 | 23,673 | ||||
| Steven Madden Ltd. | 646,411 | 23,271 | ||||
| * | Cavco Industries Inc. | 71,526 | 22,727 | |||
| * | Tri Pointe Homes Inc. | 893,575 | 22,625 | |||
| * | Sonos Inc. | 1,122,549 | 22,024 | |||
| Cracker Barrel Old Country Store Inc. | 193,000 | 21,925 | ||||
| * | Dorman Products Inc. | 249,424 | 21,515 | |||
| Kontoor Brands Inc. | 438,129 | 21,201 | ||||
| American Eagle Outfitters Inc. | 1,537,336 | 20,662 | ||||
| * | LGI Homes Inc. | 180,360 | 20,566 | |||
| MDC Holdings Inc. | 518,254 | 20,145 | ||||
| * | Frontdoor Inc. | 718,967 | 20,045 | |||
| Bloomin' Brands Inc. | 777,216 | 19,936 | ||||
| * | Boot Barn Holdings Inc. | 259,746 | 19,907 | |||
| Shares | Market Value ($000) | |||||
| * | Shake Shack Inc. Class A | 329,560 | 18,287 | |||
| Strategic Education Inc. | 197,227 | 17,717 | ||||
| * | Gentherm Inc. | 291,836 | 17,633 | |||
| * | Six Flags Entertainment Corp. | 652,772 | 17,436 | |||
| Hanesbrands Inc. | 3,087,800 | 16,242 | ||||
| * | ODP Corp. | 356,239 | 16,024 | |||
| Jack in the Box Inc. | 181,783 | 15,922 | ||||
| Century Communities Inc. | 248,369 | 15,876 | ||||
| * | Adtalem Global Education Inc. | 402,089 | 15,529 | |||
| Winnebago Industries Inc. | 268,890 | 15,515 | ||||
| * | M/I Homes Inc. | 244,406 | 15,420 | |||
| Cheesecake Factory Inc. | 422,828 | 14,820 | ||||
| * | Brinker International Inc. | 389,811 | 14,813 | |||
| * | Sally Beauty Holdings Inc. | 948,263 | 14,774 | |||
| * | Urban Outfitters Inc. | 530,706 | 14,711 | |||
| * | Leslie's Inc. | 1,312,103 | 14,446 | |||
| * | Stride Inc. | 361,697 | 14,197 | |||
| Oxford Industries Inc. | 131,498 | 13,885 | ||||
| Monro Inc. | 277,984 | 13,741 | ||||
| * | Vista Outdoor Inc. | 494,953 | 13,715 | |||
| * | Dave & Buster's Entertainment Inc. | 367,851 | 13,533 | |||
| * | National Vision Holdings Inc. | 697,614 | 13,143 | |||
| Patrick Industries Inc. | 190,752 | 13,126 | ||||
| * | Sabre Corp. | 2,894,187 | 12,416 | |||
| * | Abercrombie & Fitch Co. Class A | 432,519 | 12,002 | |||
| * | XPEL Inc. | 173,712 | 11,804 | |||
| Wolverine World Wide Inc. | 689,988 | 11,764 | ||||
| La-Z-Boy Inc. | 380,972 | 11,079 | ||||
| Upbound Group Inc. | 442,523 | 10,846 | ||||
| * | iRobot Corp. | 241,175 | 10,525 | |||
| Buckle Inc. | 270,643 | 9,659 | ||||
| Dine Brands Global Inc. | 137,353 | 9,291 | ||||
| Sturm Ruger & Co. Inc. | 160,093 | 9,196 | ||||
| * | Green Brick Partners Inc. | 242,848 | 8,514 | |||
| Monarch Casino & Resort Inc. | 114,651 | 8,501 | ||||
| * | Golden Entertainment Inc. | 193,563 | 8,422 | |||
| Sonic Automotive Inc. Class A | 148,668 | 8,079 | ||||
| * | Perdoceo Education Corp. | 595,660 | 8,000 | |||
| * | American Axle & Manufacturing Holdings Inc. | 1,014,139 | 7,920 | |||
| Caleres Inc. | 314,735 | 6,808 | ||||
| Hibbett Inc. | 113,345 | 6,685 | ||||
| Standard Motor Products Inc. | 167,276 | 6,174 | ||||
| * | Chico's FAS Inc. | 1,104,246 | 6,073 | |||
| * | BJ's Restaurants Inc. | 208,123 | 6,065 | |||
| * | Mister Car Wash Inc. | 697,151 | 6,009 | |||
| * | G-III Apparel Group Ltd. | 380,732 | 5,920 | |||
| * | Sleep Number Corp. | 193,908 | 5,897 | |||
| * | Chuy's Holdings Inc. | 160,389 | 5,750 | |||
| Ethan Allen Interiors Inc. | 209,224 | 5,745 | ||||
| * | MarineMax Inc. | 192,556 | 5,536 | |||
| Guess? Inc. | 271,361 | 5,281 | ||||
| Ruth's Hospitality Group Inc. | 266,224 | 4,371 | ||||
| * | Children's Place Inc. | 106,989 | 4,306 | |||
| Movado Group Inc. | 142,945 | 4,112 | ||||
| * | America's Car-Mart Inc. | 51,400 | 4,071 | |||
| Haverty Furniture Cos. Inc. | 123,981 | 3,956 | ||||
| * | Genesco Inc. | 105,384 | 3,887 | |||
| Designer Brands Inc. Class A | 442,309 | 3,866 | ||||
| Shares | Market Value ($000) | |||||
| Shoe Carnival Inc. | 148,734 | 3,815 | ||||
| PetMed Express Inc. | 185,235 | 3,008 | ||||
| Big Lots Inc. | 252,789 | 2,771 | ||||
| Aaron's Co. Inc. | 269,356 | 2,602 | ||||
| * | Zumiez Inc. | 136,112 | 2,510 | |||
| El Pollo Loco Holdings Inc. | 176,384 | 1,691 | ||||
| 1,134,472 | ||||||
| Consumer Staples (5.4%) | ||||||
| * | elf Beauty Inc. | 446,357 | 36,757 | |||
| * | Simply Good Foods Co. | 746,964 | 29,707 | |||
| * | Hostess Brands Inc. Class A | 1,188,010 | 29,558 | |||
| * | TreeHouse Foods Inc. | 449,949 | 22,691 | |||
| Inter Parfums Inc. | 157,298 | 22,374 | ||||
| WD-40 Co. | 120,760 | 21,501 | ||||
| Cal-Maine Foods Inc. | 334,946 | 20,395 | ||||
| J & J Snack Foods Corp. | 133,759 | 19,826 | ||||
| Edgewell Personal Care Co. | 456,970 | 19,385 | ||||
| Nu Skin Enterprises Inc. Class A | 437,400 | 17,194 | ||||
| PriceSmart Inc. | 224,023 | 16,013 | ||||
| Vector Group Ltd. | 1,162,493 | 13,961 | ||||
| * | United Natural Foods Inc. | 528,367 | 13,922 | |||
| * | Central Garden & Pet Co. Class A | 352,925 | 13,789 | |||
| * | Hain Celestial Group Inc. | 787,060 | 13,498 | |||
| MGP Ingredients Inc. | 134,467 | 13,006 | ||||
| Universal Corp. | 216,805 | 11,467 | ||||
| Andersons Inc. | 276,326 | 11,418 | ||||
| * | National Beverage Corp. | 207,600 | 10,945 | |||
| * | Chefs' Warehouse Inc. | 301,735 | 10,274 | |||
| Medifast Inc. | 95,737 | 9,925 | ||||
| B&G Foods Inc. | 632,562 | 9,824 | ||||
| Fresh Del Monte Produce Inc. | 276,755 | 8,333 | ||||
| SpartanNash Co. | 324,087 | 8,037 | ||||
| John B Sanfilippo & Son Inc. | 81,953 | 7,943 | ||||
| Tootsie Roll Industries Inc. | 165,946 | 7,453 | ||||
| * | USANA Health Sciences Inc. | 98,984 | 6,226 | |||
| Calavo Growers Inc. | 155,996 | 4,488 | ||||
| * | Central Garden & Pet Co. | 101,630 | 4,173 | |||
| * | Seneca Foods Corp. Class A | 46,975 | 2,455 | |||
| 436,538 | ||||||
| Energy (4.5%) | ||||||
| Helmerich & Payne Inc. | 958,856 | 34,279 | ||||
| Civitas Resources Inc. | 454,923 | 31,089 | ||||
| SM Energy Co. | 1,068,166 | 30,080 | ||||
| Patterson-UTI Energy Inc. | 1,989,693 | 23,279 | ||||
| Northern Oil & Gas Inc. | 647,215 | 19,643 | ||||
| CONSOL Energy Inc. | 284,803 | 16,595 | ||||
| * | Oceaneering International Inc. | 919,774 | 16,216 | |||
| * | Green Plains Inc. | 510,741 | 15,828 | |||
| * | Callon Petroleum Co. | 452,784 | 15,141 | |||
| * | Par Pacific Holdings Inc. | 498,079 | 14,544 | |||
| World Fuel Services Corp. | 549,441 | 14,038 | ||||
| * | NexTier Oilfield Solutions Inc. | 1,411,300 | 11,220 | |||
| * | Helix Energy Solutions Group Inc. | 1,267,836 | 9,813 | |||
| * | Nabors Industries Ltd. | 79,516 | 9,694 | |||
| Archrock Inc. | 969,412 | 9,471 | ||||
| Core Laboratories NV | 411,753 | 9,079 | ||||
| Comstock Resources Inc. | 814,400 | 8,787 | ||||
| Shares | Market Value ($000) | |||||
| * | Talos Energy Inc. | 581,610 | 8,631 | |||
| * | Dril-Quip Inc. | 299,272 | 8,586 | |||
| * | US Silica Holdings Inc. | 666,828 | 7,962 | |||
| Ranger Oil Corp. | 171,829 | 7,018 | ||||
| * | Vital Energy Inc. | 149,204 | 6,795 | |||
| * | ProPetro Holding Corp. | 847,373 | 6,093 | |||
| Dorian LPG Ltd. | 288,394 | 5,751 | ||||
| RPC Inc. | 736,598 | 5,664 | ||||
| * | Oil States International Inc. | 569,324 | 4,742 | |||
| * | Bristow Group Inc. Class A | 206,882 | 4,634 | |||
| CVR Energy Inc. | 126,756 | 4,155 | ||||
| * | REX American Resources Corp. | 137,183 | 3,922 | |||
| * | DMC Global Inc. | 163,662 | 3,596 | |||
| 366,345 | ||||||
| Financials (16.4%) | ||||||
| Radian Group Inc. | 1,374,000 | 30,365 | ||||
| United Community Banks Inc. | 1,015,700 | 28,562 | ||||
| Assured Guaranty Ltd. | 531,373 | 26,712 | ||||
| Independent Bank Corp. | 399,100 | 26,189 | ||||
| Community Bank System Inc. | 473,888 | 24,874 | ||||
| * | Mr Cooper Group Inc. | 606,431 | 24,845 | |||
| ServisFirst Bancshares Inc. | 427,118 | 23,333 | ||||
| First Hawaiian Inc. | 1,113,732 | 22,976 | ||||
| American Equity Investment Life Holding Co. | 614,241 | 22,414 | ||||
| Atlantic Union Bankshares Corp. | 615,900 | 21,587 | ||||
| * | Genworth Financial Inc. Class A | 4,281,010 | 21,491 | |||
| Ameris Bancorp | 569,887 | 20,846 | ||||
| Walker & Dunlop Inc. | 270,499 | 20,604 | ||||
| WSFS Financial Corp. | 545,357 | 20,511 | ||||
| Pacific Premier Bancorp Inc. | 840,234 | 20,182 | ||||
| Seacoast Banking Corp. of Florida | 830,956 | 19,694 | ||||
| Simmons First National Corp. Class A | 1,119,639 | 19,583 | ||||
| EVERTEC Inc. | 576,752 | 19,465 | ||||
| CVB Financial Corp. | 1,122,821 | 18,729 | ||||
| * | StoneX Group Inc. | 179,968 | 18,632 | |||
| First Bancorp (XNYS) | 1,617,862 | 18,476 | ||||
| First Financial Bancorp | 814,968 | 17,742 | ||||
| Washington Federal Inc. | 579,500 | 17,455 | ||||
| * | Axos Financial Inc. | 472,666 | 17,451 | |||
| Piper Sandler Cos. | 121,664 | 16,864 | ||||
| * | NMI Holdings Inc. Class A | 741,150 | 16,550 | |||
| Banner Corp. | 298,783 | 16,245 | ||||
| Renasant Corp. | 496,258 | 15,176 | ||||
| BankUnited Inc. | 669,261 | 15,112 | ||||
| Park National Corp. | 126,667 | 15,019 | ||||
| Independent Bank Group Inc. | 312,229 | 14,472 | ||||
| Lakeland Financial Corp. | 223,569 | 14,004 | ||||
| First Bancorp (XNGS) | 394,235 | 14,003 | ||||
| * | Bancorp Inc. | 486,731 | 13,555 | |||
| Northwest Bancshares Inc. | 1,122,539 | 13,504 | ||||
| Bread Financial Holdings Inc. | 439,339 | 13,321 | ||||
| * | Trupanion Inc. | 310,221 | 13,305 | |||
| * | PRA Group Inc. | 341,449 | 13,303 | |||
| BancFirst Corp. | 154,259 | 12,819 | ||||
| NBT Bancorp Inc. | 379,398 | 12,790 | ||||
| Trustmark Corp. | 516,839 | 12,766 | ||||
| Provident Financial Services Inc. | 657,259 | 12,606 | ||||
| * | Enova International Inc. | 277,676 | 12,337 | |||
| Shares | Market Value ($000) | |||||
| * | Palomar Holdings Inc. | 222,620 | 12,289 | |||
| Hilltop Holdings Inc. | 408,074 | 12,108 | ||||
| Horace Mann Educators Corp. | 361,195 | 12,093 | ||||
| City Holding Co. | 132,432 | 12,035 | ||||
| FB Financial Corp. | 382,596 | 11,891 | ||||
| * | Triumph Financial Inc. | 199,164 | 11,563 | |||
| Virtus Investment Partners Inc. | 60,390 | 11,498 | ||||
| Stellar Bancorp Inc. | 457,912 | 11,269 | ||||
| National Bank Holdings Corp. Class A | 333,272 | 11,151 | ||||
| * | Payoneer Global Inc. | 1,764,119 | 11,079 | |||
| Apollo Commercial Real Estate Finance Inc. | 1,149,442 | 10,701 | ||||
| S&T Bancorp Inc. | 338,882 | 10,658 | ||||
| Berkshire Hills Bancorp Inc. | 423,361 | 10,609 | ||||
| OFG Bancorp | 423,615 | 10,565 | ||||
| Westamerica Bancorp | 237,346 | 10,514 | ||||
| * | PROG Holdings Inc. | 441,033 | 10,492 | |||
| * | Encore Capital Group Inc. | 206,286 | 10,407 | |||
| First Commonwealth Financial Corp. | 837,002 | 10,404 | ||||
| Hope Bancorp Inc. | 1,046,141 | 10,273 | ||||
| Employers Holdings Inc. | 241,942 | 10,087 | ||||
| Pathward Financial Inc. | 240,946 | 9,997 | ||||
| Safety Insurance Group Inc. | 130,327 | 9,712 | ||||
| PennyMac Mortgage Investment Trust | 783,955 | 9,666 | ||||
| Stewart Information Services Corp. | 239,189 | 9,651 | ||||
| Two Harbors Investment Corp. | 640,714 | 9,425 | ||||
| * | Avantax Inc. | 357,064 | 9,398 | |||
| Eagle Bancorp Inc. | 274,988 | 9,204 | ||||
| * | Donnelley Financial Solutions Inc. | 223,308 | 9,124 | |||
| ProAssurance Corp. | 475,419 | 8,786 | ||||
| Southside Bancshares Inc. | 263,577 | 8,751 | ||||
| * | Green Dot Corp. Class A | 505,480 | 8,684 | |||
| Veritex Holdings Inc. | 474,668 | 8,667 | ||||
| AMERISAFE Inc. | 171,341 | 8,387 | ||||
| WisdomTree Inc. | 1,414,379 | 8,288 | ||||
| New York Mortgage Trust Inc. | 814,877 | 8,116 | ||||
| Brookline Bancorp Inc. | 763,121 | 8,013 | ||||
| * | SiriusPoint Ltd. | 976,845 | 7,942 | |||
| * | Ambac Financial Group Inc. | 502,705 | 7,782 | |||
| Capitol Federal Financial Inc. | 1,106,509 | 7,447 | ||||
| Mercury General Corp. | 233,435 | 7,409 | ||||
| Tompkins Financial Corp. | 110,313 | 7,304 | ||||
| James River Group Holdings Ltd. | 331,140 | 6,838 | ||||
| Brightsphere Investment Group Inc. | 288,135 | 6,794 | ||||
| Redwood Trust Inc. | 993,588 | 6,697 | ||||
| United Fire Group Inc. | 251,808 | 6,686 | ||||
| Dime Community Bancshares Inc. | 285,341 | 6,483 | ||||
| * | EZCORP Inc. Class A | 751,977 | 6,467 | |||
| Heritage Financial Corp. | 289,807 | 6,202 | ||||
| * | Customers Bancorp Inc. | 329,886 | 6,110 | |||
| Banc of California Inc. | 484,161 | 6,067 | ||||
| Preferred Bank | 107,856 | 5,912 | ||||
| KKR Real Estate Finance Trust Inc. | 507,119 | 5,776 | ||||
| TrustCo Bank Corp. | 168,571 | 5,384 | ||||
| Ready Capital Corp. | 527,769 | 5,367 | ||||
| Franklin BSP Realty Trust Inc. | 447,423 | 5,338 | ||||
| Northfield Bancorp Inc. | 365,698 | 4,308 | ||||
| Universal Insurance Holdings Inc. | 236,235 | 4,304 | ||||
| Central Pacific Financial Corp. | 234,714 | 4,201 | ||||
| Shares | Market Value ($000) | |||||
| Hanmi Financial Corp. | 222,024 | 4,123 | ||||
| B. Riley Financial Inc. | 140,654 | 3,993 | ||||
| * | LendingTree Inc. | 149,550 | 3,987 | |||
| ARMOUR Residential REIT Inc. | 662,985 | 3,481 | ||||
| Invesco Mortgage Capital Inc. | 309,808 | 3,436 | ||||
| Ellington Financial Inc. | 272,824 | 3,331 | ||||
| HCI Group Inc. | 59,706 | 3,200 | ||||
| HomeStreet Inc. | 153,194 | 2,756 | ||||
| * | World Acceptance Corp. | 29,258 | 2,437 | |||
| 1,323,586 | ||||||
| Health Care (10.9%) | ||||||
| Ensign Group Inc. | 493,241 | 47,124 | ||||
| * | Merit Medical Systems Inc. | 500,416 | 37,006 | |||
| * | AMN Healthcare Services Inc. | 382,137 | 31,702 | |||
| * | Cytokinetics Inc. | 834,132 | 29,353 | |||
| CONMED Corp. | 268,852 | 27,923 | ||||
| * | Prestige Consumer Healthcare Inc. | 441,528 | 27,653 | |||
| Select Medical Holdings Corp. | 919,458 | 23,768 | ||||
| * | Tandem Diabetes Care Inc. | 566,300 | 22,997 | |||
| * | Integer Holdings Corp. | 292,614 | 22,678 | |||
| * | Certara Inc. | 927,664 | 22,366 | |||
| * | Glaukos Corp. | 421,074 | 21,096 | |||
| * | NeoGenomics Inc. | 1,113,008 | 19,377 | |||
| * | NuVasive Inc. | 460,588 | 19,027 | |||
| * | Corcept Therapeutics Inc. | 842,629 | 18,251 | |||
| * | Supernus Pharmaceuticals Inc. | 474,526 | 17,192 | |||
| * | Myriad Genetics Inc. | 713,645 | 16,578 | |||
| * | Pacira BioSciences Inc. | 403,300 | 16,459 | |||
| * | Vir Biotechnology Inc. | 669,357 | 15,576 | |||
| * | CorVel Corp. | 80,472 | 15,312 | |||
| * | Addus HomeCare Corp. | 142,532 | 15,217 | |||
| * | Xencor Inc. | 529,063 | 14,756 | |||
| Embecta Corp. | 504,122 | 14,176 | ||||
| * | Catalyst Pharmaceuticals Inc. | 847,633 | 14,054 | |||
| * | Ironwood Pharmaceuticals Inc. Class A | 1,202,496 | 12,650 | |||
| * | Apollo Medical Holdings Inc. | 346,225 | 12,627 | |||
| * | Veradigm Inc. | 962,788 | 12,564 | |||
| * | Amphastar Pharmaceuticals Inc. | 331,958 | 12,448 | |||
| * | Avanos Medical Inc. | 411,918 | 12,250 | |||
| * | Vericel Corp. | 415,828 | 12,192 | |||
| US Physical Therapy Inc. | 114,600 | 11,221 | ||||
| * | RadNet Inc. | 429,897 | 10,760 | |||
| * | Pediatrix Medical Group Inc. | 719,849 | 10,733 | |||
| * | Ligand Pharmaceuticals Inc. | 141,511 | 10,410 | |||
| * | Avid Bioservices Inc. | 548,505 | 10,290 | |||
| * | Dynavax Technologies Corp. | 1,046,947 | 10,271 | |||
| * | Owens & Minor Inc. | 669,908 | 9,747 | |||
| * | ModivCare Inc. | 112,115 | 9,427 | |||
| LeMaitre Vascular Inc. | 171,681 | 8,836 | ||||
| * | Heska Corp. | 89,633 | 8,750 | |||
| * | Harmony Biosciences Holdings Inc. | 261,710 | 8,545 | |||
| * | AdaptHealth Corp. Class A | 679,441 | 8,445 | |||
| * | Arcus Biosciences Inc. | 458,469 | 8,362 | |||
| * | NextGen Healthcare Inc. | 472,113 | 8,220 | |||
| Mesa Laboratories Inc. | 44,267 | 7,735 | ||||
| * | Cardiovascular Systems Inc. | 370,374 | 7,356 | |||
| * | uniQure NV | 363,804 | 7,327 | |||
| * | Collegium Pharmaceutical Inc. | 297,480 | 7,137 | |||
| Shares | Market Value ($000) | |||||
| * | Cross Country Healthcare Inc. | 312,675 | 6,979 | |||
| * | Enanta Pharmaceuticals Inc. | 172,358 | 6,970 | |||
| * | BioLife Solutions Inc. | 302,577 | 6,581 | |||
| * | Varex Imaging Corp. | 353,296 | 6,426 | |||
| * | Innoviva Inc. | 567,018 | 6,379 | |||
| * | REGENXBIO Inc. | 330,773 | 6,255 | |||
| Simulations Plus Inc. | 141,596 | 6,222 | ||||
| * | Enhabit Inc. | 435,661 | 6,060 | |||
| * | HealthStream Inc. | 215,616 | 5,843 | |||
| * | Community Health Systems Inc. | 1,102,768 | 5,404 | |||
| * | Fulgent Genetics Inc. | 172,587 | 5,388 | |||
| * | Orthofix Medical Inc. | 300,739 | 5,037 | |||
| * | Agiliti Inc. | 293,721 | 4,694 | |||
| * | Artivion Inc. | 354,053 | 4,638 | |||
| * | ANI Pharmaceuticals Inc. | 108,566 | 4,312 | |||
| * | Emergent BioSolutions Inc. | 387,801 | 4,018 | |||
| * | Coherus Biosciences Inc. | 566,307 | 3,874 | |||
| * | OraSure Technologies Inc. | 639,864 | 3,871 | |||
| * | Computer Programs & Systems Inc. | 124,755 | 3,768 | |||
| * | Cutera Inc. | 157,125 | 3,711 | |||
| * | Anika Therapeutics Inc. | 128,584 | 3,693 | |||
| * | AngioDynamics Inc. | 343,045 | 3,547 | |||
| * | Vanda Pharmaceuticals Inc. | 486,171 | 3,301 | |||
| * | iTeos Therapeutics Inc. | 214,770 | 2,923 | |||
| Phibro Animal Health Corp. Class A | 175,867 | 2,694 | ||||
| * | Eagle Pharmaceuticals Inc. | 89,733 | 2,546 | |||
| * | Inogen Inc. | 201,070 | 2,509 | |||
| * | Zynex Inc. | 196,709 | 2,361 | |||
| * | Cara Therapeutics Inc. | 396,991 | 1,949 | |||
| * | Nektar Therapeutics Class A | 1,641,025 | 1,153 | |||
| *,1 | Lantheus Holdings Inc. CVR | 933,227 | — | |||
| *,1 | OmniAb Inc. 12.5 Earnout | 60,640 | — | |||
| *,1 | OmniAb Inc. 15 Earnout | 60,640 | — | |||
| 881,050 | ||||||
| Industrials (17.4%) | ||||||
| Applied Industrial Technologies Inc. | 338,593 | 48,124 | ||||
| Comfort Systems USA Inc. | 315,056 | 45,986 | ||||
| * | Aerojet Rocketdyne Holdings Inc. | 676,541 | 38,001 | |||
| Mueller Industries Inc. | 501,213 | 36,829 | ||||
| AAON Inc. | 371,305 | 35,901 | ||||
| Franklin Electric Co. Inc. | 344,594 | 32,426 | ||||
| John Bean Technologies Corp. | 282,482 | 30,872 | ||||
| Encore Wire Corp. | 162,333 | 30,085 | ||||
| Federal Signal Corp. | 533,773 | 28,936 | ||||
| Hillenbrand Inc. | 607,526 | 28,876 | ||||
| * | SPX Technologies Inc. | 395,452 | 27,911 | |||
| Arcosa Inc. | 425,513 | 26,854 | ||||
| ABM Industries Inc. | 582,438 | 26,175 | ||||
| Moog Inc. Class A | 252,523 | 25,442 | ||||
| Forward Air Corp. | 235,502 | 25,378 | ||||
| * | Dycom Industries Inc. | 261,100 | 24,452 | |||
| Albany International Corp. Class A | 273,261 | 24,419 | ||||
| * | Hub Group Inc. Class A | 287,444 | 24,128 | |||
| Korn Ferry | 466,081 | 24,115 | ||||
| UniFirst Corp. | 134,010 | 23,617 | ||||
| * | Resideo Technologies Inc. | 1,288,231 | 23,549 | |||
| Brady Corp. Class A | 415,039 | 22,300 | ||||
| Boise Cascade Co. | 345,213 | 21,835 | ||||
| Shares | Market Value ($000) | |||||
| ESCO Technologies Inc. | 225,912 | 21,563 | ||||
| * | GMS Inc. | 371,450 | 21,503 | |||
| * | Verra Mobility Corp. Class A | 1,232,122 | 20,847 | |||
| * | RXO Inc. | 1,026,720 | 20,165 | |||
| * | AeroVironment Inc. | 219,118 | 20,084 | |||
| Matson Inc. | 334,288 | 19,947 | ||||
| Kennametal Inc. | 717,400 | 19,786 | ||||
| ArcBest Corp. | 212,072 | 19,600 | ||||
| EnPro Industries Inc. | 182,211 | 18,930 | ||||
| * | MYR Group Inc. | 147,361 | 18,569 | |||
| Barnes Group Inc. | 439,393 | 17,699 | ||||
| Trinity Industries Inc. | 718,531 | 17,503 | ||||
| Alamo Group Inc. | 89,855 | 16,548 | ||||
| Granite Construction Inc. | 392,100 | 16,107 | ||||
| Veritiv Corp. | 117,812 | 15,921 | ||||
| * | AAR Corp. | 280,369 | 15,294 | |||
| Lindsay Corp. | 96,113 | 14,526 | ||||
| CSG Systems International Inc. | 263,326 | 14,141 | ||||
| * | Gibraltar Industries Inc. | 275,737 | 13,373 | |||
| * | PGT Innovations Inc. | 532,369 | 13,368 | |||
| * | KAR Auction Services Inc. | 961,809 | 13,158 | |||
| Griffon Corp. | 409,490 | 13,108 | ||||
| Enerpac Tool Group Corp. Class A | 508,283 | 12,961 | ||||
| MillerKnoll Inc. | 625,453 | 12,790 | ||||
| Standex International Corp. | 104,178 | 12,756 | ||||
| * | Allegiant Travel Co. | 137,887 | 12,683 | |||
| * | 3D Systems Corp. | 1,161,373 | 12,450 | |||
| * | NV5 Global Inc. | 110,247 | 11,462 | |||
| Tennant Co. | 165,864 | 11,367 | ||||
| * | NOW Inc. | 985,052 | 10,983 | |||
| Marten Transport Ltd. | 511,905 | 10,724 | ||||
| Wabash National Corp. | 426,959 | 10,499 | ||||
| HNI Corp. | 364,924 | 10,159 | ||||
| * | SkyWest Inc. | 445,871 | 9,885 | |||
| Matthews International Corp. Class A | 269,564 | 9,720 | ||||
| * | CoreCivic Inc. | 1,015,815 | 9,345 | |||
| Greenbrier Cos. Inc. | 289,464 | 9,312 | ||||
| * | Masterbrand Inc. | 1,133,000 | 9,109 | |||
| AZZ Inc. | 220,045 | 9,075 | ||||
| Healthcare Services Group Inc. | 651,097 | 9,031 | ||||
| * | GEO Group Inc. | 1,100,488 | 8,683 | |||
| Apogee Enterprises Inc. | 198,126 | 8,569 | ||||
| Astec Industries Inc. | 201,966 | 8,331 | ||||
| * | Proto Labs Inc. | 239,587 | 7,942 | |||
| * | American Woodmark Corp. | 147,696 | 7,690 | |||
| * | Triumph Group Inc. | 575,591 | 6,671 | |||
| Heartland Express Inc. | 417,242 | 6,642 | ||||
| Quanex Building Products Corp. | 298,444 | 6,425 | ||||
| TTEC Holdings Inc. | 166,334 | 6,193 | ||||
| Deluxe Corp. | 377,305 | 6,037 | ||||
| * | Sun Country Airlines Holdings Inc. | 287,600 | 5,896 | |||
| Kaman Corp. | 249,112 | 5,695 | ||||
| * | CIRCOR International Inc. | 181,031 | 5,634 | |||
| Pitney Bowes Inc. | 1,425,580 | 5,545 | ||||
| Heidrick & Struggles International Inc. | 175,275 | 5,321 | ||||
| * | TrueBlue Inc. | 287,769 | 5,122 | |||
| Kelly Services Inc. Class A | 304,873 | 5,058 | ||||
| Resources Connection Inc. | 284,047 | 4,846 | ||||
| Shares | Market Value ($000) | |||||
| Insteel Industries Inc. | 171,983 | 4,785 | ||||
| * | Harsco Corp. | 699,792 | 4,780 | |||
| * | Titan International Inc. | 452,271 | 4,740 | |||
| Interface Inc. Class A | 513,131 | 4,167 | ||||
| * | Hawaiian Holdings Inc. | 451,696 | 4,138 | |||
| * | DXP Enterprises Inc. | 141,952 | 3,821 | |||
| * | Viad Corp. | 181,986 | 3,793 | |||
| Powell Industries Inc. | 82,676 | 3,521 | ||||
| National Presto Industries Inc. | 47,993 | 3,460 | ||||
| * | Forrester Research Inc. | 98,616 | 3,190 | |||
| * | Liquidity Services Inc. | 210,749 | 2,776 | |||
| 1,411,733 | ||||||
| Information Technology (13.3%) | ||||||
| * | Rambus Inc. | 953,679 | 48,886 | |||
| * | SPS Commerce Inc. | 313,297 | 47,715 | |||
| * | Insight Enterprises Inc. | 271,106 | 38,757 | |||
| * | Axcelis Technologies Inc. | 289,604 | 38,590 | |||
| * | Onto Innovation Inc. | 434,296 | 38,166 | |||
| * | Fabrinet | 321,272 | 38,154 | |||
| * | Diodes Inc. | 400,720 | 37,171 | |||
| Advanced Energy Industries Inc. | 327,414 | 32,087 | ||||
| * | Sanmina Corp. | 517,257 | 31,548 | |||
| Badger Meter Inc. | 258,394 | 31,478 | ||||
| * | Rogers Corp. | 165,658 | 27,073 | |||
| Kulicke & Soffa Industries Inc. | 501,689 | 26,434 | ||||
| * | Plexus Corp. | 245,896 | 23,992 | |||
| * | DoubleVerify Holdings Inc. | 772,135 | 23,280 | |||
| * | Viasat Inc. | 672,900 | 22,771 | |||
| * | MaxLinear Inc. Class A | 638,725 | 22,490 | |||
| * | Alarm.com Holdings Inc. | 441,439 | 22,196 | |||
| * | Perficient Inc. | 305,583 | 22,060 | |||
| * | Itron Inc. | 396,501 | 21,986 | |||
| Progress Software Corp. | 380,998 | 21,888 | ||||
| * | Extreme Networks Inc. | 1,133,991 | 21,682 | |||
| * | FormFactor Inc. | 679,853 | 21,653 | |||
| * | Viavi Solutions Inc. | 1,982,416 | 21,470 | |||
| InterDigital Inc. | 238,891 | 17,415 | ||||
| * | NetScout Systems Inc. | 602,936 | 17,274 | |||
| * | Cohu Inc. | 424,103 | 16,281 | |||
| * | Agilysys Inc. | 173,650 | 14,328 | |||
| * | OSI Systems Inc. | 139,840 | 14,314 | |||
| * | Harmonic Inc. | 974,582 | 14,219 | |||
| Methode Electronics Inc. | 318,237 | 13,964 | ||||
| CTS Corp. | 280,827 | 13,890 | ||||
| * | Knowles Corp. | 804,041 | 13,669 | |||
| * | Semtech Corp. | 563,508 | 13,603 | |||
| * | Ultra Clean Holdings Inc. | 402,636 | 13,351 | |||
| * | LiveRamp Holdings Inc. | 572,580 | 12,557 | |||
| * | TTM Technologies Inc. | 902,981 | 12,181 | |||
| * | ePlus Inc. | 237,588 | 11,651 | |||
| * | PDF Solutions Inc. | 259,677 | 11,010 | |||
| * | Digi International Inc. | 318,650 | 10,732 | |||
| * | Cerence Inc. | 355,504 | 9,986 | |||
| ADTRAN Holdings Inc. | 623,289 | 9,885 | ||||
| * | Digital Turbine Inc. | 797,332 | 9,855 | |||
| * | Veeco Instruments Inc. | 456,516 | 9,646 | |||
| * | Avid Technology Inc. | 293,600 | 9,389 | |||
| * | Photronics Inc. | 549,654 | 9,113 | |||
| Shares | Market Value ($000) | |||||
| A10 Networks Inc. | 570,763 | 8,841 | ||||
| * | Ichor Holdings Ltd. | 256,805 | 8,408 | |||
| Adeia Inc. | 939,586 | 8,325 | ||||
| Benchmark Electronics Inc. | 318,180 | 7,538 | ||||
| * | SMART Global Holdings Inc. | 435,782 | 7,513 | |||
| * | ScanSource Inc. | 226,016 | 6,880 | |||
| * | Corsair Gaming Inc. | 356,103 | 6,534 | |||
| * | CEVA Inc. | 205,708 | 6,260 | |||
| * | OneSpan Inc. | 312,683 | 5,472 | |||
| * | Consensus Cloud Solutions Inc. | 156,566 | 5,337 | |||
| * | Alpha & Omega Semiconductor Ltd. | 197,667 | 5,327 | |||
| * | Clearfield Inc. | 111,498 | 5,194 | |||
| * | Arlo Technologies Inc. | 775,118 | 4,697 | |||
| * | NETGEAR Inc. | 253,279 | 4,688 | |||
| PC Connection Inc. | 99,249 | 4,462 | ||||
| * | 8x8 Inc. | 997,501 | 4,160 | |||
| * | Xperi Inc. | 370,008 | 4,044 | |||
| * | FARO Technologies Inc. | 164,185 | 4,041 | |||
| * | N-able Inc. | 288,100 | 3,803 | |||
| Comtech Telecommunications Corp. | 245,234 | 3,061 | ||||
| Ebix Inc. | 207,587 | 2,738 | ||||
| * | LivePerson Inc. | 618,416 | 2,727 | |||
| 1,079,890 | ||||||
| Materials (5.8%) | ||||||
| * | ATI Inc. | 1,136,065 | 44,829 | |||
| Balchem Corp. | 285,064 | 36,055 | ||||
| * | Livent Corp. | 1,565,107 | 33,994 | |||
| HB Fuller Co. | 473,641 | 32,421 | ||||
| * | O-I Glass Inc. | 1,354,829 | 30,768 | |||
| Quaker Chemical Corp. | 119,207 | 23,597 | ||||
| * | Arconic Corp. | 888,977 | 23,318 | |||
| Innospec Inc. | 216,886 | 22,268 | ||||
| Materion Corp. | 182,782 | 21,203 | ||||
| Stepan Co. | 185,937 | 19,157 | ||||
| Carpenter Technology Corp. | 420,534 | 18,823 | ||||
| Minerals Technologies Inc. | 289,697 | 17,503 | ||||
| Warrior Met Coal Inc. | 457,908 | 16,810 | ||||
| Sylvamo Corp. | 279,803 | 12,944 | ||||
| Kaiser Aluminum Corp. | 143,050 | 10,676 | ||||
| Compass Minerals International Inc. | 304,858 | 10,454 | ||||
| Mativ Holdings Inc. | 481,122 | 10,330 | ||||
| AdvanSix Inc. | 246,148 | 9,420 | ||||
| Hawkins Inc. | 168,722 | 7,387 | ||||
| Myers Industries Inc. | 326,327 | 6,993 | ||||
| SunCoke Energy Inc. | 740,920 | 6,653 | ||||
| Koppers Holdings Inc. | 188,713 | 6,599 | ||||
| * | TimkenSteel Corp. | 357,814 | 6,562 | |||
| Trinseo plc | 308,711 | 6,437 | ||||
| Haynes International Inc. | 115,583 | 5,789 | ||||
| American Vanguard Corp. | 250,529 | 5,482 | ||||
| * | Clearwater Paper Corp. | 150,557 | 5,032 | |||
| * | Century Aluminum Co. | 455,777 | 4,558 | |||
| Olympic Steel Inc. | 87,273 | 4,556 | ||||
| * | Rayonier Advanced Materials Inc. | 565,296 | 3,544 | |||
| Mercer International Inc. | 358,463 | 3,504 | ||||
| FutureFuel Corp. | 233,876 | 1,726 | ||||
| Shares | Market Value ($000) | |||||
| Tredegar Corp. | 177,147 | 1,617 | ||||
| 471,009 | ||||||
| Real Estate (7.2%) | ||||||
| Essential Properties Realty Trust Inc. | 1,228,910 | 30,538 | ||||
| LXP Industrial Trust | 2,435,017 | 25,105 | ||||
| Sunstone Hotel Investors Inc. | 2,114,723 | 20,893 | ||||
| Four Corners Property Trust Inc. | 735,833 | 19,764 | ||||
| SITE Centers Corp. | 1,603,887 | 19,696 | ||||
| Innovative Industrial Properties Inc. | 254,976 | 19,376 | ||||
| Pebblebrook Hotel Trust | 1,334,475 | 18,736 | ||||
| Urban Edge Properties | 1,201,318 | 18,092 | ||||
| Tanger Factory Outlet Centers Inc. | 904,917 | 17,763 | ||||
| Outfront Media Inc. | 1,076,294 | 17,468 | ||||
| CareTrust REIT Inc. | 879,882 | 17,228 | ||||
| * | Cushman & Wakefield plc | 1,622,572 | 17,102 | |||
| St. Joe Co. | 373,787 | 15,553 | ||||
| Retail Opportunity Investments Corp. | 1,103,118 | 15,400 | ||||
| Kennedy-Wilson Holdings Inc. | 920,100 | 15,264 | ||||
| DiamondRock Hospitality Co. | 1,833,047 | 14,903 | ||||
| Elme Communities | 822,539 | 14,691 | ||||
| Service Properties Trust | 1,452,810 | 14,470 | ||||
| Alexander & Baldwin Inc. | 745,903 | 14,105 | ||||
| Getty Realty Corp. | 365,548 | 13,171 | ||||
| Xenia Hotels & Resorts Inc. | 1,005,320 | 13,160 | ||||
| LTC Properties Inc. | 359,512 | 12,630 | ||||
| * | Veris Residential Inc. | 833,098 | 12,197 | |||
| Global Net Lease Inc. | 918,382 | 11,810 | ||||
| Acadia Realty Trust | 836,556 | 11,670 | ||||
| Easterly Government Properties Inc. Class A | 799,198 | 10,981 | ||||
| Safehold Inc. | 336,237 | 9,875 | ||||
| SL Green Realty Corp. | 412,200 | 9,695 | ||||
| NexPoint Residential Trust Inc. | 199,783 | 8,725 | ||||
| American Assets Trust Inc. | 459,973 | 8,551 | ||||
| JBG SMITH Properties | 561,400 | 8,455 | ||||
| * | Anywhere Real Estate Inc. | 1,495,707 | 7,897 | |||
| Community Healthcare Trust Inc. | 209,639 | 7,673 | ||||
| Hudson Pacific Properties Inc. | 1,120,465 | 7,451 | ||||
| Uniti Group Inc. | 2,082,409 | 7,393 | ||||
| Marcus & Millichap Inc. | 226,990 | 7,289 | ||||
| Centerspace | 132,111 | 7,217 | ||||
| RPT Realty | 752,092 | 7,152 | ||||
| Summit Hotel Properties Inc. | 969,070 | 6,783 | ||||
| Armada Hoffler Properties Inc. | 572,237 | 6,758 | ||||
| Office Properties Income Trust | 423,458 | 5,209 | ||||
| Universal Health Realty Income Trust | 100,218 | 4,821 | ||||
| Chatham Lodging Trust | 434,551 | 4,558 | ||||
| Urstadt Biddle Properties Inc. Class A | 258,048 | 4,534 | ||||
| Saul Centers Inc. | 102,349 | 3,992 | ||||
| Brandywine Realty Trust | 816,862 | 3,864 | ||||
| Whitestone REIT | 392,070 | 3,607 | ||||
| RE/MAX Holdings Inc. Class A | 158,545 | 2,974 | ||||
| Orion Office REIT Inc. | 357,055 | 2,392 | ||||
| Douglas Elliman Inc. | 588,850 | 1,831 | ||||
| 580,462 | ||||||
| Utilities (2.3%) | ||||||
| American States Water Co. | 329,009 | 29,246 | ||||
| California Water Service Group | 485,543 | 28,259 | ||||
| Shares | Market Value ($000) | |||||
| Avista Corp. | 657,779 | 27,923 | ||||
| Otter Tail Corp. | 367,942 | 26,591 | ||||
| Chesapeake Utilities Corp. | 158,206 | 20,249 | ||||
| SJW Group | 241,339 | 18,373 | ||||
| Northwest Natural Holding Co. | 321,425 | 15,287 | ||||
| Middlesex Water Co. | 154,434 | 12,064 | ||||
| Unitil Corp. | 145,081 | 8,275 | ||||
| 186,267 | ||||||
| Total Common Stocks (Cost $5,772,701) | 8,052,487 | |||||
| Coupon | ||||||
| Temporary Cash Investments (0.4%) | ||||||
| Money Market Fund (0.4%) | ||||||
| 2 | Vanguard Market Liquidity Fund (Cost $37,616) | 4.839% | 376,200 | 37,616 | ||
| Total Investments (99.8%) (Cost $5,810,317) | 8,090,103 | |||||
| Other Assets and Liabilities—Net (0.2%) | 12,238 | |||||
| Net Assets (100%) | 8,102,341 | |||||
| Cost is in $000. |
| * | Non-income-producing security. |
| 1 | Security value determined using significant unobservable inputs. |
| 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. |
| CVR—Contingent Value Rights. | |
| 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 Russell 2000 Index | June 2023 | 556 | 50,415 | 1,427 |
A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. 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 March 31, 2023, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Common Stocks | 8,052,487 | — | — | 8,052,487 |
| Temporary Cash Investments | 37,616 | — | — | 37,616 |
| Total | 8,090,103 | — | — | 8,090,103 |
| Derivative Financial Instruments | ||||
| Assets | ||||
| Futures Contracts1 | 1,427 | — | — | 1,427 |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |