NPORT-EX 2 vg_highdivyieldindex.htm
Vanguard® High Dividend Yield Index Fund
Schedule of Investments (unaudited)
As of January 31, 2024
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 (99.5%)
Basic Materials (2.3%)
  Air Products and Chemicals Inc.    988,620    252,800
  Newmont Corp.  5,141,210    177,423
  Fastenal Co.  2,544,371    173,602
  Dow Inc.  3,154,729    169,094
  LyondellBasell Industries NV Class A  1,153,102    108,530
  International Flavors & Fragrances Inc.  1,137,149     91,745
  Reliance Steel & Aluminum Co.    257,050     73,367
  CF Industries Holdings Inc.    857,157     64,724
  Celanese Corp. Class A    439,976     64,364
  International Paper Co.  1,541,930     55,247
  Eastman Chemical Co.    527,912     44,107
  Southern Copper Corp.    379,686     31,172
  Chemours Co. 661,697 19,963
  Huntsman Corp. 752,797 18,474
  Cabot Corp. 244,591 17,635
  Avient Corp. 399,267 14,458
  Carpenter Technology Corp. 216,028 13,305
  Sensient Technologies Corp. 185,868 11,529
  Scotts Miracle-Gro Co. 183,782 10,340
  Tronox Holdings plc 517,802 7,141
  Kaiser Aluminum Corp. 70,408 4,570
* Worthington Steel Inc. 136,517 4,089
  Mativ Holdings Inc. 242,015 2,911
            1,430,590
Consumer Discretionary (9.0%)
  Home Depot Inc. 4,458,752 1,573,761
  Walmart Inc. 6,362,998 1,051,485
  McDonald's Corp. 3,251,193 951,689
  Starbucks Corp. 5,029,669 467,910
  Target Corp. 2,050,483 285,181
  Ford Motor Co. 17,490,646 204,990
  Genuine Parts Co. 624,699 87,602
  Darden Restaurants Inc. 537,597 87,403
  Garmin Ltd. 684,287 81,765
  Omnicom Group Inc. 878,660 79,413
  Best Buy Co. Inc. 867,608 62,893
  Interpublic Group of Cos. Inc. 1,716,601 56,631
  Williams-Sonoma Inc. 283,744 54,873
  Tapestry Inc. 1,019,769 39,557
  Vail Resorts Inc. 168,208 37,342
  Autoliv Inc. 333,861 35,763
          Shares Market
Value
($000)
  H&R Block Inc.    648,958     30,397
  Paramount Global Class B  1,972,237     28,775
  Hasbro Inc.    581,705     28,474
  Whirlpool Corp.    238,152     26,082
  VF Corp.  1,556,264     25,616
  Ralph Lauren Corp. Class A    177,774     25,541
  Macy's Inc.  1,204,386     22,028
  Polaris Inc.    239,957     21,587
  Advance Auto Parts Inc.    264,292     17,668
  MDC Holdings Inc.    264,770     16,569
  Gap Inc.    865,158     16,170
  Kontoor Brands Inc.    248,158     14,547
  Wendy's Co.    759,933     14,500
  Newell Brands Inc.  1,693,202     14,087
  Steven Madden Ltd. 332,413 13,921
  TEGNA Inc. 891,507 13,899
  Leggett & Platt Inc. 589,692 13,687
1 Sirius XM Holdings Inc. 2,623,206 13,352
  Penske Automotive Group Inc. 87,067 12,918
  Travel + Leisure Co. 313,606 12,676
  Kohl's Corp. 491,928 12,672
  International Game Technology plc 479,521 12,448
  LCI Industries 109,124 12,143
  Carter's Inc. 160,028 12,105
  Bloomin' Brands Inc. 386,655 10,293
  Strategic Education Inc. 99,921 9,399
  Nordstrom Inc. 507,924 9,219
  MillerKnoll Inc. 325,845 8,664
  HNI Corp. 203,372 8,281
  Upbound Group Inc. 242,545 8,053
  Dana Inc. 575,628 7,806
  Worthington Enterprises Inc. 136,457 7,784
  Cracker Barrel Old Country Store Inc. 97,427 7,536
  Cheesecake Factory Inc. 214,111 7,359
  Jack in the Box Inc. 89,494 6,978
  La-Z-Boy Inc. 191,636 6,671
  Oxford Industries Inc. 66,114 6,276
  John Wiley & Sons Inc. Class A 160,895 5,445
  Steelcase Inc. Class A 408,900 5,185
  Dine Brands Global Inc. 68,320 3,187
  Wolverine World Wide Inc. 344,470 2,880
  Guess? Inc. 124,187 2,774
  Sinclair Inc. 146,500 2,300
* Liberty Media Corp.-Liberty SiriusXM Class A 29,476 896
            5,717,106
Consumer Staples (12.2%)
  Procter & Gamble Co. 10,494,960 1,649,178
  PepsiCo Inc. 6,141,608 1,035,045
  Coca-Cola Co. 17,362,399 1,032,889
  Philip Morris International Inc. 6,918,416 628,538
  Mondelez International Inc. Class A 6,062,055 456,291
  CVS Health Corp. 5,708,467 424,539
  Altria Group Inc. 7,963,426 319,493
  Colgate-Palmolive Co. 3,658,369 308,035
  Sysco Corp. 2,261,743 183,043
  Kimberly-Clark Corp. 1,501,668 181,657
  General Mills Inc. 2,591,145 168,191
  Kroger Co. 2,907,984 134,174
          Shares Market
Value
($000)
  Kraft Heinz Co.  3,580,470    132,943
  Archer-Daniels-Midland Co.  2,379,408    132,247
  Hershey Co.    668,100    129,304
  Walgreens Boots Alliance Inc.  3,190,592     72,012
  Tyson Foods Inc. Class A  1,237,342     67,757
  Clorox Co.    447,747     65,035
  Kellanova  1,157,101     63,363
  Coca-Cola Europacific Partners plc    899,599     61,982
  Conagra Brands Inc.  2,118,375     61,751
  J M Smucker Co.    457,250     60,151
  Bunge Global SA    644,271     56,754
  Molson Coors Beverage Co. Class B    778,180     48,084
  Albertsons Cos. Inc. Class A  1,854,478     39,352
  Hormel Foods Corp.  1,288,907     39,144
  Campbell Soup Co. 851,579 38,006
  Ingredion Inc. 293,616 31,584
  Flowers Foods Inc. 836,463 19,071
  Spectrum Brands Holdings Inc. 155,474 12,223
  Cal-Maine Foods Inc. 181,248 10,045
  Energizer Holdings Inc. 316,274 10,001
  Vector Group Ltd. 642,881 6,731
  Reynolds Consumer Products Inc. 241,650 6,566
  Universal Corp. 106,724 6,185
  Weis Markets Inc. 73,177 4,445
  Nu Skin Enterprises Inc. Class A 219,366 4,071
  WK Kellogg Co. 289,335 3,758
  B&G Foods Inc. 314,880 3,168
  Medifast Inc. 47,148 2,577
            7,709,383
Energy (9.8%)
  Exxon Mobil Corp. 18,046,616 1,855,373
  Chevron Corp. 7,458,490 1,099,605
  ConocoPhillips 5,341,353 597,537
  Schlumberger NV 6,350,792 309,284
  EOG Resources Inc. 2,619,914 298,120
  Phillips 66 1,984,008 286,312
  Marathon Petroleum Corp. 1,691,488 280,110
  Valero Energy Corp. 1,512,970 210,152
  Williams Cos. Inc. 5,427,461 188,116
  ONEOK Inc. 2,592,800 176,959
  Kinder Morgan Inc. 8,741,729 147,910
  Baker Hughes Co. Class A 4,514,543 128,664
  Diamondback Energy Inc. 795,173 122,250
  Targa Resources Corp. 985,235 83,706
  Coterra Energy Inc. 3,327,542 82,789
  Chesapeake Energy Corp. 557,583 42,995
  APA Corp. 1,364,694 42,756
  HF Sinclair Corp. 644,328 36,398
  Chord Energy Corp. 184,830 28,419
  Murphy Oil Corp. 656,326 25,400
  DT Midstream Inc. 431,956 23,192
  Civitas Resources Inc. 357,079 23,142
  Equitrans Midstream Corp. 1,928,823 19,655
  Antero Midstream Corp. 1,509,227 18,473
  Helmerich & Payne Inc. 430,036 17,313
  Arch Resources Inc. 79,448 14,059
  Northern Oil & Gas Inc. 388,714 13,022
  Archrock Inc. 612,795 10,013
          Shares Market
Value
($000)
  New Fortress Energy Inc.    288,267      9,579
  Delek US Holdings Inc.    284,083      7,679
  CVR Energy Inc.    131,197      4,425
            6,203,407
Financials (21.5%)
  JPMorgan Chase & Co. 12,868,462  2,243,745
  Bank of America Corp. 30,711,125  1,044,485
  Wells Fargo & Co. 16,361,327    821,011
  Goldman Sachs Group Inc.  1,421,569    545,897
  BlackRock Inc.    662,677    513,117
  Citigroup Inc.  8,522,709    478,721
  Morgan Stanley  5,359,805    467,589
  Progressive Corp.  2,605,192    464,375
  Chubb Ltd.  1,810,009    443,452
  Blackstone Inc. 3,176,530 395,319
  CME Group Inc. 1,600,363 329,419
  US Bancorp 6,943,816 288,446
  PNC Financial Services Group Inc. 1,775,339 268,449
  Apollo Global Management Inc. 2,324,826 233,413
  Aflac Inc. 2,629,381 221,762
  American International Group Inc. 3,172,699 220,534
  Truist Financial Corp. 5,912,220 219,107
  Travelers Cos. Inc. 1,015,957 214,733
  MetLife Inc. 2,823,029 195,692
  Bank of New York Mellon Corp. 3,431,841 190,330
  Allstate Corp. 1,168,789 181,454
  Ameriprise Financial Inc. 457,259 176,882
  Prudential Financial Inc. 1,618,199 169,798
  Discover Financial Services 1,111,767 117,314
  Hartford Financial Services Group Inc. 1,315,731 114,416
  T. Rowe Price Group Inc. 982,996 106,606
  Fifth Third Bancorp 3,025,545 103,595
  M&T Bank Corp. 737,215 101,809
  State Street Corp. 1,373,096 101,431
  Ares Management Corp. Class A 727,256 88,347
  Principal Financial Group Inc. 1,076,656 85,163
  Huntington Bancshares Inc. 6,416,030 81,676
  Regions Financial Corp. 4,167,904 77,815
  Cincinnati Financial Corp. 683,718 75,756
  Everest Group Ltd. 190,815 73,458
  Northern Trust Corp. 912,357 72,660
  Citizens Financial Group Inc. 2,071,374 67,734
  KeyCorp 4,153,805 60,355
  Fidelity National Financial Inc. 1,155,104 57,790
  Reinsurance Group of America Inc. 296,027 51,476
  Equitable Holdings Inc. 1,539,630 50,331
  East West Bancorp Inc. 625,197 45,521
  Credicorp Ltd. 303,294 45,018
  Ally Financial Inc. 1,204,588 44,184
  Unum Group 874,843 42,290
  Assurant Inc. 235,458 39,545
  American Financial Group Inc. 323,918 39,000
  Webster Financial Corp. 761,064 37,657
  Carlyle Group Inc. 939,128 37,584
  First Horizon Corp. 2,474,714 35,240
  Franklin Resources Inc. 1,267,181 33,745
  Jefferies Financial Group Inc. 806,265 32,863
  Old Republic International Corp. 1,162,600 32,599
          Shares Market
Value
($000)
  Comerica Inc.    585,771     30,800
  Cullen/Frost Bankers Inc.    263,478     27,960
  SouthState Corp.    336,250     27,942
  Zions Bancorp NA    647,663     27,137
  Houlihan Lokey Inc. Class A    225,218     26,977
  First American Financial Corp.    446,076     26,921
  Evercore Inc. Class A    156,559     26,886
  Popular Inc.    313,238     26,766
  Invesco Ltd.  1,616,702     25,592
  Prosperity Bancshares Inc.    387,734     24,780
  Corebridge Financial Inc.  1,018,263     24,611
  RLI Corp.    179,011     24,412
  MGIC Investment Corp.  1,225,880     24,321
  Synovus Financial Corp.    643,688     24,241
  OneMain Holdings Inc. 499,325 23,768
  Cadence Bank 804,745 21,422
  Bank OZK 474,170 21,390
  Old National Bancorp 1,293,958 21,311
  FNB Corp. 1,591,689 20,978
  Hanover Insurance Group Inc. 157,988 20,856
  United Bankshares Inc. 577,915 20,718
  Lincoln National Corp. 752,308 20,651
  Axis Capital Holdings Ltd. 346,017 20,595
  New York Community Bancorp Inc. 3,170,310 20,512
  Assured Guaranty Ltd. 249,956 20,279
  Radian Group Inc. 694,933 20,139
  SLM Corp. 1,001,071 19,901
  Home BancShares Inc. 842,553 19,749
  FirstCash Holdings Inc. 166,395 19,097
  Glacier Bancorp Inc. 492,569 19,043
  Lazard Inc. Class A 487,095 18,987
  Columbia Banking System Inc. 925,489 18,658
  Valley National Bancorp 1,906,458 18,340
  Jackson Financial Inc. Class A 365,809 18,316
  Hancock Whitney Corp. 383,264 17,289
  Janus Henderson Group plc 595,827 17,136
  Moelis & Co. Class A 294,995 16,216
  Kemper Corp. 267,918 16,075
  Associated Banc-Corp 668,525 14,046
  United Community Banks Inc. 510,520 13,958
  Walker & Dunlop Inc. 140,491 13,570
  CNO Financial Group Inc. 494,584 13,443
  Piper Sandler Cos. 76,639 13,296
  First Bancorp 759,608 12,670
  Cathay General Bancorp 307,050 12,641
  First Hawaiian Inc. 566,184 12,281
  Artisan Partners Asset Management Inc. Class A 271,298 11,367
  Atlantic Union Bankshares Corp. 331,486 11,324
  Fulton Financial Corp. 709,805 11,066
  Bank of Hawaii Corp. 173,157 10,949
  Independent Bank Corp. 195,106 10,943
  Community Bank System Inc. 235,200 10,765
  Pacific Premier Bancorp Inc. 419,012 10,630
  BOK Financial Corp. 126,096 10,572
  Simmons First National Corp. Class A 548,238 10,422
  First Interstate BancSystem Inc. Class A 364,617 10,034
  CVB Financial Corp. 587,594 9,854
  Eastern Bankshares Inc. 682,869 9,533
          Shares Market
Value
($000)
  First Financial Bancorp    417,754      9,366
  BankUnited Inc.    327,803      9,264
  First Merchants Corp.    261,086      8,827
  Towne Bank    310,691      8,734
  BancFirst Corp.     97,193      8,603
  Park National Corp.     63,436      8,290
  WaFd Inc.    284,660      8,267
  Cohen & Steers Inc.    115,043      8,101
  Independent Bank Group Inc.    160,132      7,742
  Renasant Corp.    243,762      7,710
  WesBanco Inc.    254,830      7,477
  Virtus Investment Partners Inc.     30,728      7,255
  Trustmark Corp.    268,720      7,253
  NBT Bancorp Inc.    203,199      7,228
  Banner Corp. 151,176 7,042
  Northwest Bancshares Inc. 562,725 6,961
  City Holding Co. 65,667 6,712
  Horace Mann Educators Corp. 181,537 6,686
  Heartland Financial USA Inc. 186,702 6,622
  Virtu Financial Inc. Class A 391,908 6,580
  Navient Corp. 379,810 6,540
  Bank of NT Butterfield & Son Ltd. 214,331 6,501
  First Commonwealth Financial Corp. 454,857 6,373
  Stock Yards Bancorp Inc. 119,525 5,943
  Hope Bancorp Inc. 509,427 5,644
  S&T Bancorp Inc. 168,449 5,616
  Westamerica Bancorp 114,027 5,441
  Provident Financial Services Inc. 324,267 5,367
  CNA Financial Corp. 116,039 5,114
  Employers Holdings Inc. 113,234 4,724
  Mercury General Corp. 117,849 4,720
  Sandy Spring Bancorp Inc. 193,586 4,720
  Berkshire Hills Bancorp Inc. 191,951 4,607
  Brookline Bancorp Inc. 384,208 4,157
  WisdomTree Inc. 607,178 4,111
  1st Source Corp. 73,324 3,833
  F&G Annuities & Life Inc. 82,843 3,715
  Capitol Federal Financial Inc. 567,543 3,598
  TFS Financial Corp. 223,052 2,971
  Republic Bancorp Inc. Class A 37,239 1,906
            13,605,165
Health Care (12.0%)
  Johnson & Johnson 10,744,013 1,707,224
  Merck & Co. Inc. 11,323,812 1,367,690
  AbbVie Inc. 7,866,826 1,293,306
  Amgen Inc. 2,381,438 748,391
  Pfizer Inc. 25,182,059 681,930
  Medtronic plc 5,921,655 518,382
  Bristol-Myers Squibb Co. 9,073,842 443,439
  Gilead Sciences Inc. 5,572,020 436,066
  Cardinal Health Inc. 1,098,593 119,955
  Baxter International Inc. 2,251,493 87,110
  Viatris Inc. 5,334,544 62,787
  Royalty Pharma plc Class A 1,655,643 47,004
  Perrigo Co. plc 600,522 19,265
  Organon & Co. 1,137,153 18,934
  Premier Inc. Class A 527,895 11,413
          Shares Market
Value
($000)
  Patterson Cos. Inc.    379,008     11,317
            7,574,213
Industrials (12.0%)
  Caterpillar Inc.  2,274,635    683,096
  Union Pacific Corp.  2,717,352    662,844
  Honeywell International Inc.  2,968,156    600,339
  RTX Corp.  6,408,909    583,980
  United Parcel Service Inc. Class B  3,228,486    458,122
  Automatic Data Processing Inc.  1,843,672    453,138
  Eaton Corp. plc  1,775,256    436,855
  Lockheed Martin Corp.    987,630    424,098
  Illinois Tool Works Inc.  1,334,400    348,145
  General Dynamics Corp.  1,091,084    289,126
  Emerson Electric Co.  2,544,086    233,369
  3M Co. 2,451,233 231,274
  PACCAR Inc. 2,284,731 229,364
  L3Harris Technologies Inc. 843,099 175,719
  Paychex Inc. 1,435,959 174,799
  Fidelity National Information Services Inc. 2,638,290 164,260
  Johnson Controls International plc 3,031,243 159,716
  Cummins Inc. 631,890 151,211
  DuPont de Nemours Inc. 2,046,226 126,457
  Hubbell Inc. Class B 238,533 80,044
  Synchrony Financial 1,836,787 71,396
  Snap-on Inc. 231,778 67,199
  Packaging Corp. of America 393,896 65,339
  Stanley Black & Decker Inc. 681,779 63,610
  RPM International Inc. 566,222 60,393
  Watsco Inc. 147,782 57,780
  Westrock Co. 1,130,940 45,532
  Huntington Ingalls Industries Inc. 174,479 45,176
  nVent Electric plc 732,337 43,969
  CH Robinson Worldwide Inc. 511,815 43,038
  Oshkosh Corp. 290,181 31,949
  Crane Co. 213,558 26,505
  Sonoco Products Co. 435,127 24,759
  Flowserve Corp. 582,234 23,249
  Ryder System Inc. 194,678 22,109
  MSC Industrial Direct Co. Inc. Class A 208,930 20,617
  Western Union Co. 1,620,976 20,376
  GATX Corp. 156,794 19,231
  MDU Resources Group Inc. 899,479 17,549
  Otter Tail Corp. 182,327 16,486
* Knife River Corp. 249,861 16,363
  ManpowerGroup Inc. 218,904 16,229
  McGrath RentCorp 109,006 13,697
  Crane NXT Co. 213,949 12,469
  ABM Industries Inc. 292,513 11,932
  Kennametal Inc. 355,255 8,711
  Tennant Co. 81,700 7,722
  H&E Equipment Services Inc. 142,227 7,650
  Greif Inc. Class A 107,534 6,733
  SFL Corp. Ltd. 506,638 6,166
  Greenbrier Cos. Inc. 134,755 6,126
  ADT Inc. 935,490 6,109
  Golden Ocean Group Ltd. 545,660 5,768
  Apogee Enterprises Inc. 97,921 5,171
  Star Bulk Carriers Corp. 220,640 4,797
          Shares Market
Value
($000)
  Ardagh Metal Packaging SA    644,643      2,379
  TTEC Holdings Inc.     84,732      1,727
            7,591,967
Real Estate (0.0%)
  Kennedy-Wilson Holdings Inc.    528,892      5,527
Technology (8.9%)
  Broadcom Inc.  1,921,943  2,267,893
  Intel Corp. 18,811,535    810,401
  QUALCOMM Inc.  4,973,414    738,602
  International Business Machines Corp.  3,730,633    685,168
  Texas Instruments Inc.  4,046,672    647,953
  HP Inc.  3,850,798    110,556
  Corning Inc.  3,390,020    110,142
  NetApp Inc.    938,613     81,847
  Seagate Technology Holdings plc 929,583 79,647
  Gen Digital Inc. 2,466,584 57,915
  Hewlett Packard Enterprise Co. 3,006,331 45,967
  Avnet Inc. 404,496 18,324
  Xerox Holdings Corp. 516,494 9,534
            5,663,949
Telecommunications (5.0%)
  Cisco Systems Inc. 18,072,153 906,861
  Comcast Corp. Class A 17,797,777 828,308
  Verizon Communications Inc. 18,761,247 794,539
  AT&T Inc. 31,917,482 564,620
  Juniper Networks Inc. 1,420,295 52,494
  Cogent Communications Holdings Inc. 193,280 14,921
  Telephone & Data Systems Inc. 435,637 8,369
            3,170,112
Utilities (6.8%)
  NextEra Energy Inc. 9,024,680 529,117
  Southern Co. 4,857,365 337,684
  Waste Management Inc. 1,812,701 336,492
  Duke Energy Corp. 3,436,159 329,287
  Sempra 2,808,276 200,960
  American Electric Power Co. Inc. 2,296,079 179,416
  Dominion Energy Inc. 3,725,936 170,350
  Exelon Corp. 4,430,611 154,230
  Xcel Energy Inc. 2,455,837 147,031
  Consolidated Edison Inc. 1,546,579 140,584
  Public Service Enterprise Group Inc. 2,216,288 128,523
  Edison International 1,683,602 113,609
  WEC Energy Group Inc. 1,406,525 113,591
  DTE Energy Co. 917,613 96,735
  Entergy Corp. 942,748 94,049
  FirstEnergy Corp. 2,425,594 88,971
  PPL Corp. 3,287,538 86,133
  Eversource Energy 1,553,785 84,246
  Ameren Corp. 1,166,358 81,143
  CenterPoint Energy Inc. 2,810,837 78,535
  Atmos Energy Corp. 659,635 75,159
  CMS Energy Corp. 1,295,288 74,039
  Vistra Corp. 1,617,638 66,372
  Alliant Energy Corp. 1,118,938 54,447
  NRG Energy Inc. 1,013,602 53,761
  Evergy Inc. 991,639 50,345
          Shares Market
Value
($000)
  AES Corp.  2,974,310     49,611
  NiSource Inc.  1,840,854     47,807
  Essential Utilities Inc.  1,080,889     38,761
  Pinnacle West Capital Corp.    504,136     34,735
  OGE Energy Corp.    890,016     29,584
  IDACORP Inc.    224,790     20,811
  UGI Corp.    930,054     20,591
  National Fuel Gas Co.    395,417     18,648
  Portland General Electric Co.    448,988     18,377
  New Jersey Resources Corp.    429,275     17,527
  Southwest Gas Holdings Inc.    272,831     16,010
  Black Hills Corp.    298,013     15,425
  ALLETE Inc.    255,266     15,089
  ONE Gas Inc.    243,767     14,960
  PNM Resources Inc. 378,627 13,718
  Northwestern Energy Group Inc. 272,232 13,100
  Spire Inc. 227,646 12,923
  Avista Corp. 338,665 11,518
  MGE Energy Inc. 160,852 10,373
  Avangrid Inc. 316,192 9,606
  Clearway Energy Inc. Class C 372,297 9,024
  SJW Group 140,974 8,394
  Northwest Natural Holding Co. 158,605 5,846
  Atlantica Sustainable Infrastructure plc 298,936 5,734
  Clearway Energy Inc. Class A 146,026 3,280
            4,326,261
Total Common Stocks (Cost $51,880,213) 62,997,680
      Coupon      
Temporary Cash Investments (0.3%)
Money Market Fund (0.3%)
2,3 Vanguard Market Liquidity Fund
(Cost $177,743) 		5.410%   1,777,730 177,755
Total Investments (99.8%) (Cost $52,057,956)   63,175,435
Other Assets and Liabilities—Net (0.2%)   95,851
Net Assets (100%)   63,271,286
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 $10,927,000.
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 $12,880,000 was received for securities on loan.
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 500 Index March 2024 478 116,405 2,857
    
Over-the-Counter Total Return Swaps
Reference Entity Termination
Date 		Counterparty Notional
Amount
($000) 		Floating
Interest
Rate
Received
(Paid)1
(%) 		Value and
Unrealized
Appreciation
($000) 		Value and
Unrealized
(Depreciation)
($000)
Chevron Corp. 1/31/25 CITNA 31,324 (5.326) — (498)
Clorox Co. 8/30/24 BANA 14,687 (5.326) 335 —
Hewlett Packard Enterprise Co. 1/31/25 CITNA 41,283 (5.327) — —
International Business Machines Corp. 1/31/25 CITNA 58,771 (5.327) — —
Paramount Global Class B 8/30/24 BANA 8,815 (5.326) — (127)
          335 (625)
1 Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly.
  BANA—Bank of America, N.A.
  CITNA—Citibank, N.A.
At January 31, 2024, the counterparties had deposited in segregated accounts securities with a value of $4,982,000 in connection with open over-the-counter swap contracts.
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 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. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.
A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily
to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.
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—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 January 31, 2024, based on the inputs used to value them:
  Level 1
($000) 		Level 2
($000) 		Level 3
($000) 		Total
($000)
Investments        
Assets        
Common Stocks 62,939,765 57,915 — 62,997,680
Temporary Cash Investments 177,755 — — 177,755
Total 63,117,520 57,915 — 63,175,435
Derivative Financial Instruments        
Assets        
Futures Contracts1 2,857 — — 2,857
Swap Contracts — 335 — 335
Total 2,857 335 — 3,192
Liabilities        
Swap Contracts — 625 — 625
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.