N-CSRS 1 tm2014794-5_ncsrs.htm N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-07803

Name of Registrant:	Vanguard Scottsdale Funds
Address of Registrant:	P.O. Box 2600
	Valley Forge, PA 19482

Name and address of agent for service:	Anne E. Robinson, Esquire
	P.O. Box 876
	Valley Forge, PA 19482

Registrant’s telephone number, including area code: (610) 669-1000

Date of fiscal year end: August 31

Date of reporting period: September 1, 2019—February 29, 2020

Item 1: Reports to Shareholders

Semiannual Report | February 29, 2020

Vanguard Explorer^™Value Fund

See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report.

If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com.

You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.

Contents

About Your Fund’s Expenses	1

Financial Statements	4

Trustees Approve Advisory Arrangements	16

About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.

A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your fund’s costs in two ways:

● Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading “Expenses Paid During Period.”

● Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

Six Months Ended February 29, 2020

Explorer Value Fund	Beginning Account Value 8/31/2019	Ending Account Value 2/29/2020	Expenses Paid During Period
Based on Actual Fund Return	$1,000.00	$957.89	$3.02
Based on Hypothetical 5% Yearly Return	1,000.00	1,021.78	3.12

The calculations are based on expenses incurred in the most recent six-month period. The fund’s annualized six-month expense ratio for that period is 0.62%. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/366).

Explorer Value Fund

Sector Diversification

As of February 29, 2020

Communication Services	2.7%
Consumer Discretionary	8.9
Consumer Staples	1.4
Energy	3.7
Financials	19.4
Health Care	5.6
Industrials	15.2
Information Technology	14.3
Materials	9.8
Real Estate	15.3
Utilities	3.7

The table reflects the fund’s investments, except for short-term investments and derivatives. Sector categories are based on the Global Industry Classification Standard (“GICS”), except for the “Other” category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard and Poor’s, a division of McGraw-Hill Companies, Inc. (“S&P”), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Explorer Value Fund

Financial Statements (unaudited)

Schedule of Investments

As of February 29, 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 (94.5%)
Communication Services (2.6%)
	Nexstar Media Group Inc.		107,413		12,351
*	IAC/InterActiveCorp		21,434		4,371
					16,722
Consumer Discretionary (8.4%)
	Lithia Motors Inc. Class A		78,226		9,321
	Six Flags Entertainment Corp.		245,108		6,196
*	Perdoceo Education Corp.		380,843		5,686
	Cooper Tire & Rubber Co.		210,152		5,357
	LCI Industries		45,897		4,431
	Extended Stay America Inc.		362,168		3,977
*	LGI Homes Inc.		50,292		3,790
*	Adtalem Global Education Inc.		112,610		3,476
*	Modine Manufacturing Co.		389,266		2,904
*	Boot Barn Holdings Inc.		94,206		2,889
	Wendy’s Co.		137,869		2,603
	Kontoor Brands Inc.		75,155		2,536
*	Lands’ End Inc.		130,808		1,379
					54,545
Consumer Staples (1.3%)
*	Hostess Brands Inc.		665,102		8,453

Energy (3.5%)
	Parsley Energy Inc.		302,868		4,058
	Rattler Midstream LP		301,660		3,798
	Viper Energy Partners LP		196,962		3,512
*	PDC Energy Inc.		184,123		3,504
*	International Seaways Inc.		157,041		3,124
*	WPX Energy Inc.		232,620		2,170
	SM Energy Co.		248,327		1,631
*	Centennial Resource Development Inc.		377,510		895
					22,692

Financials (18.3%)
	PacWest Bancorp	316,733	10,021
	Starwood Property Trust Inc.	403,138	8,942
	Columbia Banking System Inc.	261,064	8,667
	Popular Inc.	179,318	8,604
	BGC Partners Inc.	1,576,978	7,349
	First BanCorp	919,479	7,301
*	Bancorp Inc.	581,495	7,077
	Washington Federal Inc.	234,684	7,038
	Argo Group International Holdings Ltd.	121,766	6,850
*	Texas Capital Bancshares Inc.	128,076	6,030
	Flushing Financial Corp.	308,105	5,594
	James River Group Holdings Ltd.	137,539	5,558
	Pinnacle Financial Partners Inc.	94,534	4,976
	Webster Financial Corp.	117,180	4,449
	Wintrust Financial Corp.	81,945	4,377
	Renasant Corp.	126,227	3,576
	First Merchants Corp.	102,219	3,576
	First Horizon National Corp.	259,083	3,453
	WSFS Financial Corp.	98,933	3,409
	PJT Partners Inc.	43,984	1,977
			118,824
Health Care (5.3%)
*	Syneos Health Inc.	171,940	10,893
*	Ligand Pharmaceuticals Inc.	109,385	10,239
*,^	Change Healthcare Inc.	315,397	4,286
*	Merit Medical Systems Inc.	102,501	3,691
*	Pacira BioSciences Inc.	78,546	3,407
*	Envista Holdings Corp.	70,098	1,779
			34,295

Explorer Value Fund

		Shares		Market Value^● ($000)
Industrials (14.3%)
*	Colfax Corp.		367,784		12,310
*	IAA Inc.		192,748		8,234
	KAR Auction Services Inc.		421,121		8,107
*	Teledyne Technologies Inc.		20,573		6,940
	Interface Inc.		386,049		5,632
	Trinity Industries Inc.		263,288		5,358
	Encore Wire Corp.		100,631		4,928
	Kaman Corp.		87,669		4,862
*	Beacon Roofing Supply Inc.		161,249		4,789
	HNI Corp.		123,571		4,057
*	Saia Inc.		45,303		3,955
	EnerSys		61,411		3,782
	Altra Industrial Motion Corp.		123,101		3,708
*	BMC Stock Holdings Inc.		150,014		3,680
	Greenbrier Cos. Inc.		132,490		3,210
	Steelcase Inc.		165,156		2,679
*	MRC Global Inc.		224,374		1,952
*	WESCO International Inc.		47,697		1,935
	AZZ Inc.		42,128		1,554
*	DXP Enterprises Inc.		41,501		1,178
					92,850
Information Technology (13.6%)
*	ACI Worldwide Inc.		566,512		15,789
	j2 Global Inc.		118,932		10,386
	Silicon Motion Technology Corp. ADR		248,649		9,255
*	Verint Systems Inc.		129,670		7,116
*	Itron Inc.		89,083		6,756
*	Fabrinet		111,880		6,167
	Jabil Inc.		176,211		5,647
*	Insight Enterprises Inc.		97,447		5,368
	MKS Instruments Inc.		49,706		4,980
*	Nuance Communications Inc.		204,195		4,415
*	Virtusa Corp.		99,656		4,396
*	MACOM Technology Solutions Holdings Inc.		134,783		3,406
*	Semtech Corp.		71,884		2,839
*	Lattice Semiconductor Corp.		78,698		1,413
					87,933
Materials (9.3%)
	FMC Corp.		202,419		18,845
	Silgan Holdings Inc.		448,543		12,842
	Ashland Global Holdings Inc.		96,860		6,929

*	Axalta Coating Systems Ltd.	206,588	5,148
	Eagle Materials Inc.	64,748	5,111
*	Allegheny Technologies Inc.	248,830	4,252
	Carpenter Technology Corp.	109,398	4,020
	Compass Minerals International Inc.	33,465	1,826
*	Kraton Corp.	112,813	1,142
			60,115
Real Estate (14.5%)
	Gaming and Leisure Properties Inc.	359,771	16,071
	Medical Properties Trust Inc.	733,637	15,502
*	Howard Hughes Corp.	89,067	9,609
	STAG Industrial Inc.	264,781	7,409
	Corporate Office Properties Trust	273,118	6,921
	Cousins Properties Inc.	182,190	6,502
	RPT Realty	439,902	5,701
	Spirit Realty Capital Inc.	122,835	5,589
	Sunstone Hotel Investors Inc.	497,730	5,450
	SITE Centers Corp.	415,251	4,779
	Mack-Cali Realty Corp.	208,501	3,957
	Invitation Homes Inc.	123,907	3,555
	Newmark Group Inc.	296,059	2,827
			93,872
Utilities (3.4%)
	Portland General Electric Co.	160,635	8,740
	MDU Resources Group Inc.	259,948	7,208
	Unitil Corp.	115,549	6,510
			22,458
Total Common Stocks (Cost $571,575)			612,759
Temporary Cash Investments (6.1%)
Money Market Fund (5.9%)
^1,2 Vanguard Market Liquidity Fund, 1.706%		380,910	38,103

Explorer Value Fund

	Face Amount ($000)		Market Value^● ($000)
U.S. Government and Agency Obligations (0.2%)
³ United States Treasury Bill, 1.546%, 3/26/20		1,000		999
United States Treasury Bill, 1.543%, 4/16/20		180		179
				1,178
Total Temporary Cash Investments (Cost $39,266)				39,281
Total Investments (100.6%) (Cost $610,841)				652,040
Other Assets and Liabilities—
Net (-0.6%)²				(4,035	)
Net Assets (100%)				648,005

Cost rounded to $000.

●

See Note A in Notes to Financial Statements.

Non-income-producing security.

Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $381,000.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $40,000 was received for securities on loan.

Securities with a value of $777,000 have been segregated as initial margin for open futures contracts.

ADR—American Depositary Receipt.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

($000)

Value and

Number of

Unrealized

Long (Short)

Notional

Appreciation

Expiration

Contracts

Amount

(Depreciation)

Long Futures Contracts

E-mini Russell 2000 Index

March 2020

223

16,445

(2,153

)

See accompanying Notes, which are an integral part of the Financial Statements.

Explorer Value Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $572,753)		613,937
Affiliated Issuers (Cost $38,088)		38,103
Total Investments in Securities		652,040
Investment in Vanguard		31
Receivables for Investment Securities Sold		56
Receivables for Accrued Income		548
Receivables for Capital Shares Issued		1,202
Total Assets		653,877
Liabilities
Due to Custodian		808
Payables for Investment Securities Purchased		2,327
Collateral for Securities on Loan		420
Payables to Investment Advisor		719
Payables for Capital Shares Redeemed		1,188
Payables to Vanguard		278
Variation Margin Payable—Futures Contracts		132
Total Liabilities		5,872
Net Assets		648,005

At February 29, 2020, net assets consisted of:


Paid-in Capital			611,326
Total Distributable Earnings (Loss)			36,679
Net Assets			648,005

Net Assets
Applicable to 20,503,209 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)			648,005
Net Asset Value Per Unit (Net Assets Divided by Units Outstanding)			$31.61

See accompanying Notes, which are an integral part of the Financial Statements.

Explorer Value Fund

Statement of Operations

	Six Months Ended February 29, 2020
		($000	)
Investment Income
Income
Dividends		5,266
Interest¹		450
Securities Lending—Net		26
Total Income		5,742
Expenses
Investment Advisory Fees—Note B
Basic Fee		1,113
Performance Adjustment		292
The Vanguard Group—Note C
Management and Administrative		706
Marketing and Distribution		45
Custodian Fees		12
Shareholders’ Reports		6
Trustees’ Fees and Expenses		1
Total Expenses		2,175
Net Investment Income		3,567
Realized Net Gain (Loss)
Investment Securities Sold¹		7,792
Futures Contracts		857
Realized Net Gain (Loss)		8,649
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹		(42,213	)
Futures Contracts		(1,594	)
Change in Unrealized Appreciation (Depreciation)		(43,807	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(31,591	)

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $44,000, $3,000, and $8,000, respectively. Purchases and sales are for temporary cash investment purposes.

See accompanying Notes, which are an integral part of the Financial Statements.

Explorer Value Fund

Statement of Changes in Net Assets

	Six Months Ended			Year Ended
	February 29,			August 31,
	2020			2019
		($000)			($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		3,567			9,791
Realized Net Gain (Loss)		8,649			(4,010	)
Change in Unrealized Appreciation (Depreciation)		(43,807	)		(84,055	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(31,591	)		(78,274	)
Distributions¹
Total Distributions		(10,473	)		(49,375	)
Capital Share Transactions
Issued		94,238			104,548
Issued in Lieu of Cash Distributions		9,910			46,711
Redeemed		(69,145	)		(136,426	)
Net Increase (Decrease) from Capital Share Transactions		35,003			14,833
Total Increase (Decrease)		(7,061	)		(112,816	)
Net Assets
Beginning of Period		655,066			767,882
End of Period		648,005			655,066

1 Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Explorer Value Fund

Financial Highlights

	Six Months
	Ended									Year Ended August 31,
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	33.49		$	40.53		$	34.45		$	31.55		$	30.09		$	32.97
Investment Operations
Net Investment Income		.179	¹		.494	¹		.355	¹		.329	¹		.293			.259
Net Realized and Unrealized Gain (Loss) on Investments		(1.521	)		(4.921	)		7.112			3.331			2.964			(1.284	)
Total from Investment Operations		(1.342	)		(4.427	)		7.467			3.660			3.257			(1.025	)
Distributions
Dividends from Net Investment Income		(.538	)		(.366	)		(.288	)		(.308	)		(.237	)		(.272	)
Distributions from Realized Capital Gains		—			(2.247	)		(1.099	)		(.452	)		(1.560	)		(1.583	)
Total Distributions		(.538	)		(2.613	)		(1.387	)		(.760	)		(1.797	)		(1.855	)
Net Asset Value, End of Period	$	31.61		$	33.49		$	40.53		$	34.45		$	31.55		$	30.09

Total Return²		-4.21	%		-10.10	%		22.10	%		11.64	%		11.41	%		-3.12	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	648		$	655		$	768		$	607		$	377		$	291
Ratio of Total Expenses to Average Net Assets³		0.62	%		0.55	%		0.56	%		0.55	%		0.57	%		0.56	%
Ratio of Net Investment Income to Average Net Assets		1.27	%		1.45	%		0.95	%		0.98	%		1.03	%		0.78	%
Portfolio Turnover Rate		18	%		27	%		31	%		33	%		61	%		35	%

The expense ratio and net investment income ratio for the current period have been annualized.

1 Calculated based on average shares outstanding.

Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

Includes performance-based investment advisory fee increases (decreases) of 0.08%, 0.01%, 0.0%, (0.01%), (0.01%), and (0.02%).

See accompanying Notes, which are an integral part of the Financial Statements.

Explorer Value Fund

Notes to Financial Statements

Vanguard Explorer Value Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. 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.

2. 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

During the six months ended February 29, 2020, the fund’s average investments in long and short futures contracts represented 3% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (August 31, 2016–2019), and for the period ended February 29, 2020, and has concluded that no provision for federal income tax is required in the fund’s financial statements.

Explorer Value Fund

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facility and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight, but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Explorer Value Fund

7. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. The investment advisory firms Cardinal Capital Management, L.L.C., and Frontier Capital Management Co., LLC, each provide investment advisory services to a portion of the fund for a fee calculated at an annual percentage rate of average net assets managed by the advisor. The basic fee of Cardinal Capital Management, L.L.C., is subject to quarterly adjustments based on performance relative to the Russell 3000 Value Custom Index for the preceding three years. The basic fee of Frontier Capital Management Co., LLC, is subject to quarterly adjustments based on performance relative to the Russell 2000 Value Index for the preceding three years.

Vanguard manages the cash reserves of the fund as described below.

For the six months ended February 29, 2020, the aggregate investment advisory fee represented an effective annual basic rate of 0.32% of the fund’s average net assets, before an increase of $292,000 (0.08%) based on performance.

C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund corporate management, administrative, marketing, distribution, and cash management services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. Vanguard does not require reimbursement in the current period for certain costs of operations (such as deferred compensation/benefits and risk/insurance costs); the fund’s liability for these costs of operations is included in Payables to Vanguard on the Statement of Assets and Liabilities. All other costs of operations payable to Vanguard are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $31,000, representing less than 0.01% of the fund’s net assets and 0.01% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

D. 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.

Explorer Value Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1	Level 2	Level 3	Total
	($000)	($000)	($000)	($000)
Investments
Assets
Common Stocks	612,759	—	—	612,759
Temporary Cash Investments	38,103	1,178	—	39,281
Total	650,862	1,178	—	652,040
Derivative Financial Instruments
Liabilities
Futures Contracts¹	132	—	—	132

1 Represents variation margin on the last day of the reporting period.

E. As of February 29, 2020, gross unrealized appreciation and depreciation for investments, and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000)
Tax Cost		610,841
Gross Unrealized Appreciation		114,435
Gross Unrealized Depreciation		(75,389	)
Net Unrealized Appreciation (Depreciation)		39,046

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $10,303,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 29, 2020, the fund purchased $149,916,000 of investment securities and sold $116,572,000 of investment securities, other than temporary cash investments.

G.	Capital shares issued and redeemed were:

	Six Months Ended			Year Ended
	February 29, 2020			August 31, 2019
	Shares			Shares
		(000	)		(000	)
Issued		2,628			3,084
Issued in Lieu of Cash Distributions		274			1,573
Redeemed		(1,961	)		(4,042	)
Net Increase (Decrease) in Shares Outstanding		941			615

Explorer Value Fund

H. Market disruptions associated with the COVID-19 pandemic have had a global impact, and uncertainty exists as to the long-term implications. Such disruptions can adversely affect assets of the fund and thus fund performance. Management is continuing to monitor this development and evaluate its impact on the fund.

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Trustees Approve Advisory Arrangements

The board of trustees of Vanguard Explorer Value Fund has renewed the fund’s investment advisory arrangements with Cardinal Capital Management, L.L.C. (Cardinal), and Frontier Capital Management Co., LLC (Frontier). The board determined that renewing the fund’s advisory arrangements was in the best interests of the fund and its shareholders.

The board based its decisions upon an evaluation of each advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisors and made monthly presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.

The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.

In addition, the board received monthly reports, which included a Market and Economic Report, a Fund Dashboard Monthly Summary, and a Fund Performance Report.

Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decision.

Nature, extent, and quality of services

The board reviewed the quality of the fund’s investment management services since its inception in 2010, and took into account the organizational depth and stability of each advisor. The board considered the following:

Cardinal. Founded in 1995, Cardinal is an investment advisor that manages small- and mid-capitalization value portfolios. Cardinal utilizes fundamental research to analyze a company’s ability to generate free cash flow and deploy that cash flow efficiently, enhancing shareholder value. Cardinal’s analysts engage extensively with company management teams to understand their capital allocation decisions. Cardinal seeks to purchase companies that can generate superior cash flow and make value-creating capital allocation decisions at attractive valuations. Cardinal has managed a portion of the fund since the fund’s inception.

Frontier. Founded in 1980, Frontier is an investment advisor with a long history of investing in small- and mid-cap stocks. Frontier employs a relative value approach that focuses on identifying companies with solid business models, unrecognized earnings power, and attractive valuations. The portfolio managers have the support of Frontier’s deep team of sector-focused analysts and other small- and mid-cap portfolio managers. Frontier has managed a portion of the fund since the fund’s inception.

The board concluded that each advisor’s experience, stability, depth, and performance, among other factors, warranted continuation of the advisory arrangements.

Investment performance

The board considered the performance of each advisor’s subportfolio since the fund’s inception, including any periods of outperformance or underperformance compared with a relevant benchmark index and peer group. The board concluded that the performance was such that each advisory arrangement should continue.

Cost

The board concluded that the fund’s expense ratio was well below the average expense ratio charged by funds in its peer group and that the fund’s advisory fee rate was also well below the peer-group average.

The board did not consider the profitability of Cardinal or Frontier in determining whether to approve the advisory fees, because the firms are independent of Vanguard and the advisory fees are the result of arm’s-length negotiations.

The benefit of economies of scale

The board concluded that the fund’s shareholders benefit from economies of scale because of breakpoints in the advisory fee schedules for Cardinal and Frontier. The breakpoints reduce the effective rate of the fees as the fund’s assets managed by each advisor increase.

The board will consider whether to renew the advisory arrangements again after a one-year period.

Connect with Vanguard^® > vanguard.com

Fund Information > 800-662-7447

Direct Investor Account Services > 800-662-2739

Institutional Investor Services > 800-523-1036

Text Telephone for People

Who Are Deaf or Hard of Hearing > 800-749-7273

This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Vanguard Marketing Corporation, Distributor.

Q16902 042020




	Semiannual Report \| February 29, 2020


	Vanguard Russell 1000 Index Funds








	Vanguard Russell 1000 Index Fund

	Vanguard Russell 1000 Value Index Fund

	Vanguard Russell 1000 Growth Index Fund









	See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Contents

About Your Fund’s Expenses	1

Russell 1000 Index Fund	3

Russell 1000 Value Index Fund	17

Russell 1000 Growth Index Fund	31

About Your Fund’s Expenses

The accompanying table illustrates your fund’s costs in two ways:

● Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

● Based on hypothetical 5% yearly return. This section is intended to help you compare your fund’s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”

Six Months Ended February 29, 2020

	Beginning	Ending	Expenses
	Account Value	Account Value	Paid During
	8/31/2019	2/29/2020	Period
Based on Actual Fund Return
Russell 1000 Index Fund
ETF Shares	$1,000.00	$1,019.33	$0.40
Institutional Shares	1,000.00	1,019.46	0.35
Russell 1000 Value Index Fund
ETF Shares	$1,000.00	$982.76	$0.39
Institutional Shares	1,000.00	982.85	0.35
Russell 1000 Growth Index Fund
ETF Shares	$1,000.00	$1,053.53	$0.41
Institutional Shares	1,000.00	1,053.62	0.36
Based on Hypothetical 5% Yearly Return
Russell 1000 Index Fund
ETF Shares	$1,000.00	$1,024.47	$0.40
Institutional Shares	1,000.00	1,024.52	0.35
Russell 1000 Value Index Fund
ETF Shares	$1,000.00	$1,024.47	$0.40
Institutional Shares	1,000.00	1,024.52	0.35
Russell 1000 Growth Index Fund
ETF Shares	$1,000.00	$1,024.47	$0.40
Institutional Shares	1,000.00	1,024.52	0.35

The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that period are: for the Russell 1000 Index Fund, 0.08% for ETF Shares and 0.07% for Institutional Shares; for the Russell 1000 Value Index Fund, 0.08% for ETF Shares and 0.07% for Institutional Shares; and for the Russell 1000 Growth Index Fund, 0.08% for ETF Shares and 0.07% for Institutional Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/366).

Russell 1000 Index Fund

Sector Diversification

As of February 29, 2020

Consumer Discretionary	14.7	%
Consumer Staples	6.0
Energy	3.4
Financial Services	20.1
Health Care	13.3
Materials & Processing	3.0
Producer Durables	9.4
Technology	24.8
Utilities	5.3
The table reflects the fund’s investments, except for short-term investments and derivatives. Sector categories are based on the Russell Global Sectors (“RGS”), except for the “Other” category (if applicable), which includes securities that have not been provided a RGS classification as of the effective reporting period.

The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking their target index as closely as possible.

Russell 1000 Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

This Statement summarizes the fund’s holdings by asset type. Details are reported for each of the fund’s 50 largest individual holdings and for investments that, in total for any issuer, represent more than 1% of the fund’s net assets. The total value of smaller holdings is reported as a single amount within each category.

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) four times in each fiscal year. For the second and fourth quarters the complete list of the fund’s holdings is available on vanguard.com and on Form N-CSR, or you can have it mailed to you without charge by calling 800-662-7447. For the first and third quarters of each fiscal year, the complete list of the fund’s holdings is available as an exhibit to its reports on Form N-PORT. The fund’s Form N-CSR and Form N-PORT reports are available on the SEC’s website at www.sec.gov.

			Market		Percentage
			Value^●		of Net
		Shares		($000)		Assets
Common Stocks
Consumer Discretionary
*	Amazon.com Inc.	54,177		102,056		2.8%
	Home Depot Inc.	144,367		31,449		0.9%
	Walt Disney Co.	228,476		26,880		0.7%
	Comcast Corp.	590,673		23,881		0.7%
*	Netflix Inc.	55,252		20,390		0.6%
	Walmart Inc.	184,194		19,834		0.6%
	McDonald’s Corp.	98,635		19,152		0.5%
	Costco Wholesale Corp.	57,557		16,182		0.4%
	Consumer Discretionary—Other †			264,765		7.4%
				524,589		14.6%
Consumer Staples
	Procter & Gamble Co.	323,536		36,634		1.0%
	Coca-Cola Co.	502,160		26,861		0.8%
	PepsiCo Inc.	183,528		24,231		0.7%
	Philip Morris International Inc.	203,476		16,659		0.5%
	Consumer Staples—Other †			109,030		3.0%
				213,415		6.0%
Energy
	Exxon Mobil Corp.	554,432		28,520		0.8%
	Chevron Corp.	249,905		23,326		0.7%
	Energy—Other †			69,017		1.9%
				120,863		3.4%
Financial Services
*	Berkshire Hathaway Inc.	255,901		52,803		1.5%
	JPMorgan Chase & Co.	408,221		47,399		1.3%
	Visa Inc.	224,377		40,783		1.1%
	Mastercard Inc.	116,164		33,717		0.9%
	Bank of America Corp.	1,066,379		30,392		0.9%
	Wells Fargo & Co.	498,771		20,375		0.6%

Russell 1000 Index Fund

			Market		Percentage
			Value^●		of Net
		Shares		($000)		Assets
	Citigroup Inc.	286,274		18,167		0.5%
*	PayPal Holdings Inc.	154,137		16,645		0.5%
	Financial Services—Other †			457,740		12.8%
				718,021		20.1%
Health Care
	Johnson & Johnson	347,843		46,778		1.3%
	UnitedHealth Group Inc.	123,731		31,546		0.9%
	Merck & Co. Inc.	333,425		25,527		0.7%
	Pfizer Inc.	728,675		24,352		0.7%
	Bristol-Myers Squibb Co.	306,501		18,102		0.5%
	Medtronic plc	175,666		17,684		0.5%
	Abbott Laboratories	225,745		17,389		0.5%
	AbbVie Inc.	193,897		16,619		0.5%
	Amgen Inc.	78,565		15,692		0.4%
	Thermo Fisher Scientific Inc.	52,299		15,209		0.4%
	Health Care—Other †			244,466		6.8%
				473,364		13.2%

Materials & Processing †				105,652		2.9%

Producer Durables
	Boeing Co.	69,354		19,080		0.6%
	Honeywell International Inc.	94,695		15,357		0.4%
	Accenture plc Class A	83,436		15,068		0.4%
	Union Pacific Corp.	91,193		14,574		0.4%
	Producer Durables—Other †			269,287		7.5%
				333,366		9.3%
Technology
	Microsoft Corp.	990,540		160,477		4.5%
	Apple Inc.	582,168		159,141		4.4%
*	Facebook Inc.	313,068		60,256		1.7%
*	Alphabet Inc. Class A	39,298		52,630		1.5%
*	Alphabet Inc. Class C	39,196		52,496		1.5%
	Intel Corp.	570,158		31,655		0.9%
	Cisco Systems Inc.	561,920		22,437		0.6%
*	Adobe Inc.	63,810		22,022		0.6%
	NVIDIA Corp.	76,486		20,657		0.6%
*	salesforce.com Inc.	108,931		18,562		0.5%
	International Business Machines Corp.	116,261		15,131		0.4%
	Technology—Other †			267,478		7.5%
				882,942		24.7%
Utilities
	AT&T Inc.	956,486		33,687		0.9%
	Verizon Communications Inc.	542,133		29,362		0.8%
	NextEra Energy Inc.	63,949		16,164		0.5%
	Utilities—Other †			110,275		3.1%
				189,488		5.3%
Total Common Stocks (Cost $2,736,932)				3,561,700		99.5%

Russell 1000 Index Fund

Market

Percentage

Value^●

of Net

Coupon

($000)

Assets

Temporary Cash Investments

Money Market Fund

^1,2 Vanguard Market Liquidity Fund

1.706

117,281

11,732

0.4%

³ U.S. Government and Agency Obligations †

868

0.0%

Total Temporary Cash Investments (Cost $12,598)

12,600

0.4%

⁴ Total Investments (Cost $2,749,530)

3,574,300

99.9%

² Other Assets and Liabilities—Net

4,496

0.1%

Net Assets

3,578,796

100.0%

Cost rounded to $000.

●

See Note A in Notes to Financial Statements.

Non-income-producing security.

^†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $1,215,000 was received for securities on loan.

Securities with a value of $789,000 have been segregated as initial margin for open futures contracts.

⁴

The total value of securities on loan is $1,159,000.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

($000

)

Value and

Number of

Unrealized

Long (Short)

Notional

Appreciation

Expiration

Contracts

Amount

(Depreciation)

Long Futures Contracts

E-mini S&P 500 Index

March 2020

118

17,411

(1,681

)

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $2,737,800)	3,562,568
Affiliated Issuers (Cost $11,730)	11,732
Total Investments in Securities	3,574,300
Investment in Vanguard	175
Cash	4
Receivables for Accrued Income	6,705
Receivables for Capital Shares Issued	52
Total Assets	3,581,236
Liabilities
Payables for Investment Securities Purchased	18
Collateral for Securities on Loan	1,215
Payables for Capital Shares Redeemed	765
Payables to Vanguard	408
Variation Margin Payable—Futures Contracts	34
Total Liabilities	2,440
Net Assets	3,578,796

At February 29, 2020, net assets consisted of:

Paid-in Capital	2,727,447
Total Distributable Earnings (Loss)	851,349
Net Assets	3,578,796

ETF Shares—Net Assets
Applicable to 9,250,000 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	1,255,085
Net Asset Value Per Share—ETF Shares	$135.68

Institutional Shares—Net Assets
Applicable to 8,840,770 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	2,323,711
Net Asset Value Per Share—Institutional Shares	$262.84

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Dividends	35,699
Interest¹	126
Securities Lending—Net	90
Total Income	35,915
Expenses
The Vanguard Group—Note B
Investment Advisory Services	287
Management and Administrative—ETF Shares	344
Management and Administrative—Institutional Shares	609
Marketing and Distribution—ETF Shares	43
Marketing and Distribution—Institutional Shares	38
Custodian Fees	68
Shareholders’ Reports—ETF Shares	7
Shareholders’ Reports—Institutional Shares	1
Trustees’ Fees and Expenses	1
Total Expenses	1,398
Net Investment Income	34,517
Realized Net Gain (Loss)
Investment Securities Sold^1,2	53,291
Futures Contracts	1,632
Realized Net Gain (Loss)	54,923
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹	(13,992)
Futures Contracts	(1,683)
Change in Unrealized Appreciation (Depreciation)	(15,675)
Net Increase (Decrease) in Net Assets Resulting from Operations	73,765

1	Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $118,000, $3,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.
2	Includes $55,913,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Index Fund

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	34,517	58,249
Realized Net Gain (Loss)	54,923	148,119
Change in Unrealized Appreciation (Depreciation)	(15,675)	(95,786)
Net Increase (Decrease) in Net Assets Resulting from Operations	73,765	110,582
Distributions¹
ETF Shares	(11,959)	(18,678)
Institutional Shares	(23,325)	(38,353)
Total Distributions	(35,284)	(57,031)
Capital Share Transactions
ETF Shares	53,597	157,814
Institutional Shares	(32,259)	165,134
Net Increase (Decrease) from Capital Share Transactions	21,338	322,948
Total Increase (Decrease)	59,819	376,499
Net Assets
Beginning of Period	3,518,977	3,142,478
End of Period	3,578,796	3,518,977

1 Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Index Fund

Financial Highlights

ETF Shares

	Six Months
		Ended				Year Ended August 31,
For a Share Outstanding	February 29,					Year Ended August 31,
Throughout Each Period		2020		2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period		$134.37	$133.57		$113.60	$99.81	$91.37	$92.70
Investment Operations
Net Investment Income		1.293¹	2.395¹		2.209¹	2.054¹	1.892	1.679
Net Realized and Unrealized Gain (Loss)
on Investments		1.350	.759		19.896	13.753	8.383	(1.355)
Total from Investment Operations		2.643	3.154		22.105	15.807	10.275	.324
Distributions
Dividends from Net Investment Income		(1.333)	(2.354)		(2.135)	(2.017)	(1.835)	(1.654)
Distributions from Realized Capital Gains		—		—	—	—	—	—
Total Distributions		(1.333)	(2.354)		(2.135)	(2.017)	(1.835)	(1.654)
Net Asset Value, End of Period		$135.68	$134.37		$133.57	$113.60	$99.81	$91.37

Total Return		1.93%	2.45%		19.68%	16.02%	11.41%	0.29%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$1,255	$1,196		$1,008	$724	$679	$514
Ratio of Total Expenses to
Average Net Assets		0.08%	0.08%		0.12%	0.12%	0.12%	0.12%
Ratio of Net Investment Income to
Average Net Assets		1.80%	1.85%		1.78%	1.94%	2.05%	1.84%
Portfolio Turnover Rate²		3%	6%		9%	11%	9%	4%

The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Index Fund

Financial Highlights

Institutional Shares

	Six Months
		Ended				Year Ended August 31,
For a Share Outstanding	February 29,					Year Ended August 31,
Throughout Each Period		2020		2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period		$260.26	$258.75		$220.06	$193.36	$176.99	$179.58
Investment Operations
Net Investment Income		2.514¹	4.645¹		4.345¹	4.080¹	3.732	3.329
Net Realized and Unrealized Gain (Loss)
on Investments		2.631	1.483		38.573	26.609	16.259	(2.641)
Total from Investment Operations		5.145	6.128		42.918	30.689	19.991	.688
Distributions
Dividends from Net Investment Income		(2.565)	(4.618)		(4.228)	(3.989)	(3.621)	(3.278)
Distributions from Realized Capital Gains		—		—	—	—	—	—
Total Distributions		(2.565)	(4.618)		(4.228)	(3.989)	(3.621)	(3.278)
Net Asset Value, End of Period		$262.84	$260.26		$258.75	$220.06	$193.36	$176.99

Total Return		1.95%	2.45%		19.72%	16.06%	11.47%	0.33%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$2,324	$2,323		$2,134	$2,014	$1,549	$1,251
Ratio of Total Expenses to
Average Net Assets		0.07%	0.07%		0.08%	0.08%	0.08%	0.08%
Ratio of Net Investment Income to
Average Net Assets		1.81%	1.86%		1.82%	1.98%	2.09%	1.88%
Portfolio Turnover Rate²		3%	6%		9%	11%	9%	4%

The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Index Fund

Notes to Financial Statements

Vanguard Russell 1000 Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

2. 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 counter-party 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

During the six months ended February 29, 2020, the fund’s average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

Russell 1000 Index Fund

may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. Vanguard does not require reimbursement in the current period for certain costs of operations (such as deferred compensation/benefits and risk/insurance costs); the fund’s liability for these costs of operations is included in Payables to Vanguard on the Statement of Assets and Liabilities. All other costs of operations payable to Vanguard are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $175,000, representing less than 0.01% of the fund’s net assets and 0.07% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

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.).

Russell 1000 Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1	Level 2	Level 3	Total
	($000)	($000)	($000)	($000)
Investments
Assets
Common Stocks	3,561,700	—	—	3,561,700
Temporary Cash Investments	11,732	868	—	12,600
Total	3,573,432	868	—	3,574,300
Derivative Financial Instruments
Liabilities
Futures Contracts¹	34	—	—	34

1 Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost	2,749,530
Gross Unrealized Appreciation	1,044,405
Gross Unrealized Depreciation	(221,316)
Net Unrealized Appreciation (Depreciation)	823,089

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $39,003,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended February 29, 2020, the fund purchased $237,249,000 of investment securities and sold $220,732,000 of investment securities, other than temporary cash investments. Purchases and sales include $85,007,000 and $110,138,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

Russell 1000 Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended									Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
		($000	)		(000	)		($000	)		(000	)
ETF Shares
Issued		165,071			1,125			478,030			3,800
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(111,474	)		(775	)		(320,216	)		(2,450	)
Net Increase (Decrease)—ETF Shares		53,597			350			157,814			1,350
Institutional Shares
Issued		163,933			602			501,900			2,013
Issued in Lieu of Cash Distributions		22,398			82			35,811			143
Redeemed		(218,590	)		(769	)		(372,577	)		(1,478	)
Net Increase (Decrease)—Institutional Shares		(32,259	)		(85	)		165,134			678

G. Market disruptions associated with the COVID-19 pandemic have had a global impact, and uncertainty exists as to the long-term implications. Such disruptions can adversely affect assets of the fund and thus fund performance. Management is continuing to monitor this development and evaluate its impact on the fund.

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Russell 1000 Value Index Fund

Sector Diversification

As of February 29, 2020

Consumer Discretionary	11.0%

Consumer Staples	8.9

Energy	7.0

Financial Services	29.1

Health Care	12.7

Materials & Processing	4.4

Producer Durables	9.0

Technology	6.7

Utilities	11.2

The table reflects the fund’s investments, except for short-term investments and derivatives. Sector categories are based on the Russell Global Sectors (“RGS”), except for the “Other” category (if applicable), which includes securities that have not been provided a RGS classification as of the effective reporting period.

The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, at-tempting to remain fully invested and tracking their target index as closely as possible.

Russell 1000 Value Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
Common Stocks
Consumer Discretionary
	Walt Disney Co.	517,086	60,835	1.6%
	Walmart Inc.	415,664	44,759	1.2%
	McDonald’s Corp.	187,211	36,351	1.0%
	Home Depot Inc.	140,416	30,588	0.8%
	Comcast Corp.	707,311	28,597	0.8%
	Consumer Discretionary—Other †		210,804	5.6%
			411,934	11.0%
Consumer Staples
	Procter & Gamble Co.	689,629	78,087	2.1%
	Philip Morris International Inc.	460,396	37,693	1.0%
	CVS Health Corp.	384,530	22,756	0.6%
	Mondelez International Inc.	421,260	22,243	0.6%
	Coca-Cola Co.	361,427	19,333	0.5%
	Colgate-Palmolive Co.	248,746	16,808	0.5%
	Consumer Staples—Other †		136,938	3.6%
			333,858	8.9%
Energy
	Exxon Mobil Corp.	1,254,140	64,513	1.7%
	Chevron Corp.	564,651	52,705	1.4%
	ConocoPhillips	325,439	15,758	0.4%
	Energy—Other †		130,877	3.5%
			263,853	7.0%
Financial Services
^*	Berkshire Hathaway Inc.	578,994	119,470	3.2%
	JPMorgan Chase & Co.	923,249	107,198	2.9%
	Bank of America Corp.	2,410,079	68,687	1.8%
	Wells Fargo & Co.	1,128,898	46,116	1.2%
	Citigroup Inc.	646,424	41,022	1.1%
	CME Group Inc.	104,877	20,852	0.6%
	US Bancorp	423,655	19,675	0.5%

Russell 1000 Value Index Fund

			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
	Chubb Ltd.	133,525	19,365	0.5%
	Goldman Sachs Group Inc.	94,337	18,940	0.5%
	Prologis Inc.	217,007	18,289	0.5%
	Truist Financial Corp.	395,982	18,271	0.5%
	PNC Financial Services Group Inc.	129,624	16,385	0.4%
	BlackRock Inc.	35,033	16,221	0.4%
	Morgan Stanley	344,582	15,517	0.4%
	Financial Services—Other †		545,396	14.5%
			1,091,404	29.0%
Health Care
	Johnson & Johnson	667,947	89,826	2.4%
	Pfizer Inc.	1,648,242	55,084	1.5%
	Medtronic plc	397,367	40,003	1.1%
	Danaher Corp.	172,804	24,984	0.7%
	Gilead Sciences Inc.	323,108	22,411	0.6%
	Abbott Laboratories	289,209	22,278	0.6%
	Allergan plc	97,186	18,530	0.5%
	Becton Dickinson and Co.	72,468	17,234	0.4%
	Bristol-Myers Squibb Co.	286,299	16,909	0.4%
	Health Care—Other †		168,835	4.5%
			476,094	12.7%
Materials & Processing
	Linde plc	159,102	30,390	0.8%
	Materials & Processing—Other †		134,149	3.6%
			164,539	4.4%
Producer Durables
	United Technologies Corp.	240,094	31,354	0.8%
	General Electric Co.	2,563,110	27,887	0.7%
	Caterpillar Inc.	146,164	18,159	0.5%
	Honeywell International Inc.	108,922	17,664	0.5%
	Producer Durables—Other †		242,174	6.5%
			337,238	9.0%
Technology
	Intel Corp.	1,289,448	71,590	1.9%
^*	Micron Technology Inc.	327,089	17,192	0.4%
	Technology—Other †		160,757	4.3%
			249,539	6.6%
Utilities
	AT&T Inc.	2,162,392	76,159	2.0%
	Verizon Communications Inc.	1,225,558	66,376	1.8%
	NextEra Energy Inc.	144,322	36,479	1.0%
	Duke Energy Corp.	215,854	19,794	0.5%
	Dominion Energy Inc.	243,508	19,037	0.5%
	Southern Co.	308,161	18,601	0.5%
	Utilities—Other †		185,441	4.9%
			421,887	11.2%
Total Common Stocks (Cost $3,778,866)			3,750,346	99.8%

Russell 1000 Value Index Fund

				Market	Percentage
				Value^•	of Net
		Coupon	Shares	($000)	Assets
Temporary Cash Investments
Money Market Fund
^1,2	Vanguard Market Liquidity Fund	1.706%	14,693	1,470	0.1%

³	U.S. Government and Agency Obligations †			449	0.0%
Total Temporary Cash Investments (Cost $1,918)				1,919	0.1%
⁴	Total Investments (Cost $3,780,784)			3,752,265	99.9%
²	Other Assets and Liabilities—Net			4,570	0.1%
Net Assets				3,756,835	100.0%

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

Non-income-producing security.

†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $1,464,000 was received for securities on loan.

Securities with a value of $271,000 have been segregated as initial margin for open futures contracts.

The total value of securities on loan is $1,107,000.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

				($000)
				Value and
		Number of		Unrealized
		Long (Short)	Notional	Appreciation
	Expiration	Contracts	Amount	(Depreciation)
Long Futures Contracts
E-mini S&P 500 Index	March 2020	40	5,902	(640)

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Value Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $3,779,315)	3,750,795
Affiliated Issuers (Cost $1,469)	1,470
Total Investments in Securities	3,752,265
Investment in Vanguard	180
Receivables for Accrued Income	10,263
Receivables for Capital Shares Issued	2,512
Total Assets	3,765,220
Liabilities
Due to Custodian	3,697
Payables for Investment Securities Purchased	4
Collateral for Securities on Loan	1,464
Payables for Capital Shares Redeemed	2,790
Payables to Vanguard	418
Variation Margin Payable—Futures Contracts	12
Total Liabilities	8,385
Net Assets	3,756,835

At February 29, 2020, net assets consisted of:

Paid-in Capital	3,782,054
Total Distributable Earnings (Loss)	(25,219)
Net Assets	3,756,835

ETF Shares—Net Assets
Applicable to 19,350,000 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	2,049,753
Net Asset Value Per Share—ETF Shares	$105.93

Institutional Shares—Net Assets
Applicable to 8,252,878 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	1,707,082
Net Asset Value Per Share—Institutional Shares	$206.85

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Value Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Dividends	53,075
Interest¹	29
Securities Lending—Net	170
Total Income	53,274
Expenses
The Vanguard Group—Note B
Investment Advisory Services	307
Management and Administrative—ETF Shares	538
Management and Administrative—Institutional Shares	421
Marketing and Distribution—ETF Shares	72
Marketing and Distribution—Institutional Shares	40
Custodian Fees	141
Shareholders’ Reports—ETF Shares	16
Shareholders’ Reports—Institutional Shares	1
Trustees’ Fees and Expenses	1
Total Expenses	1,537
Net Investment Income	51,737
Realized Net Gain (Loss)
Investment Securities Sold^1,2	65,874
Futures Contracts	1,151
Realized Net Gain (Loss)	67,025
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹	(180,538)
Futures Contracts	(651)
Change in Unrealized Appreciation (Depreciation)	(181,189)
Net Increase (Decrease) in Net Assets Resulting from Operations	(62,427)

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $23,000, $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $67,685,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Value Index Fund

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	51,737	86,224
Realized Net Gain (Loss)	67,025	224,418
Change in Unrealized Appreciation (Depreciation)	(181,189)	(270,040)
Net Increase (Decrease) in Net Assets Resulting from Operations	(62,427)	40,602
Distributions¹
ETF Shares	(28,564)	(41,769)
Institutional Shares	(25,596)	(39,827)
Total Distributions	(54,160)	(81,596)
Capital Share Transactions
ETF Shares	209,938	447,077
Institutional Shares	(139,509)	306,866
Net Increase (Decrease) from Capital Share Transactions	70,429	753,943
Total Increase (Decrease)	(46,158)	712,949
Net Assets
Beginning of Period	3,802,993	3,090,044
End of Period	3,756,835	3,802,993

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Value Index Fund

Financial Highlights

ETF Shares

	Six Months
	Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	109.22		$	111.20		$	101.32		$	93.14		$	84.77		$	89.83
Investment Operations
Net Investment Income		1.469	¹		2.713	¹		2.522	¹		2.437	¹		2.205			1.990
Net Realized and Unrealized Gain (Loss) on Investments		(3.231	)		(2.107	)		9.836			8.109			8.312			(5.097	)
Total from Investment Operations		(1.762	)		.606			12.358			10.546			10.517			(3.107	)
Distributions
Dividends from Net Investment Income		(1.528	)		(2.586	)		(2.478	)		(2.366	)		(2.147	)		(1.953	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(1.528	)		(2.586	)		(2.478	)		(2.366	)		(2.147	)		(1.953	)
Net Asset Value, End of Period	$	105.93		$	109.22		$	111.20		$	101.32		$	93.14		$	84.77

Total Return		-1.72	%		0.60	%		12.36	%		11.45	%		12.65	%		-3.59	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	2,050		$	1,914		$	1,487		$	1,153		$	668		$	407
Ratio of Total Expenses to Average Net Assets		0.08	%		0.08	%		0.12	%		0.12	%		0.12	%		0.12	%
Ratio of Net Investment Income to Average Net Assets		2.52	%		2.51	%		2.35	%		2.48	%		2.58	%		2.26	%
Portfolio Turnover Rate²		3	%		17	%		16	%		22	%		18	%		18	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Value Index Fund

Financial Highlights

Institutional Shares

	Six Months
	Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	213.25		$	217.14		$	197.85		$	181.86		$	165.50		$	175.38
Investment Operations
Net Investment Income		2.869	¹		5.294	¹		4.978	¹		4.850	¹		4.359			3.946
Net Realized and Unrealized Gain (Loss) on Investments		(6.295	)		(4.087	)		19.227			15.821			16.249			(9.955	)
Total from Investment Operations		(3.426	)		1.207			24.205			20.671			20.608			(6.009	)
Distributions
Dividends from Net Investment Income		(2.974	)		(5.097	)		(4.915	)		(4.681	)		(4.248	)		(3.871	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(2.974	)		(5.097	)		(4.915	)		(4.681	)		(4.248	)		(3.871	)
Net Asset Value, End of Period	$	206.85		$	213.25		$	217.14		$	197.85		$	181.86		$	165.50

Total Return		-1.71	%		0.61	%		12.39	%		11.49	%		12.72	%		-3.55	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	1,707		$	1,889		$	1,603		$	1,541		$	1,485		$	1,283
Ratio of Total Expenses to Average Net Assets		0.07	%		0.07	%		0.08	%		0.08	%		0.08	%		0.08	%
Ratio of Net Investment Income to Average Net Assets		2.52	%		2.52	%		2.39	%		2.52	%		2.62	%		2.30	%
Portfolio Turnover Rate²		3	%		17	%		16	%		22	%		18	%		18	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Value Index Fund

Notes to Financial Statements

Vanguard Russell 1000 Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

2. 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Russell 1000 Value Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $180,000, representing less than 0.01% of the fund’s net assets and 0.07% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

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.).

Russell 1000 Value Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1		Level 2		Level 3		Total
	($000)		($000)		($000)		($000)
Investments
Assets
Common Stocks		3,750,346		—		—		3,750,346
Temporary Cash Investments		1,470		449		—		1,919
Total		3,751,816		449		—		3,752,265
Derivative Financial Instruments
Liabilities
Futures Contracts¹		12		—		—		12

Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost		3,780,784
Gross Unrealized Appreciation		406,267
Gross Unrealized Depreciation		(435,426	)
Net Unrealized Appreciation (Depreciation)		(29,159	)

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $81,313,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended February 29, 2020, the fund purchased $420,091,000 of investment securities and sold $354,514,000 of investment securities, other than temporary cash investments. Purchases and sales include $302,214,000 and $245,647,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

Russell 1000 Value Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended									Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
	($000)			(000)			($000)			(000)
ETF Shares
Issued		456,981			3,950			1,270,748			11,700
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(247,043	)		(2,125	)		(823,671	)		(7,550	)
Net Increase (Decrease)—ETF Shares		209,938			1,825			447,077			4,150
Institutional Shares
Issued		125,951			564			634,913			3,030
Issued in Lieu of Cash Distributions		22,134			98			36,445			173
Redeemed		(287,594	)		(1,267	)		(364,492	)		(1,727	)
Net Increase (Decrease)—Institutional Shares		(139,509	)		(605	)		306,866			1,476

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Russell 1000 Growth Index Fund

Sector Diversification

As of February 29, 2020

Consumer Discretionary	18.0	%
Consumer Staples	3.5
Energy	0.2
Financial Services	12.4
Health Care	13.8
Materials & Processing	1.7
Producer Durables	9.7
Technology	40.5
Utilities	0.2

Russell 1000 Growth Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

			Market	Percentage
			Value^●	of Net
		Shares	($000)	Assets
Common Stocks
Consumer Discretionary
*	Amazon.com Inc.	178,953	337,103	5.3%
*	Netflix Inc.	182,155	67,221	1.1%
	Home Depot Inc.	271,653	59,177	0.9%
	Costco Wholesale Corp.	189,982	53,412	0.8%
	NIKE Inc.	533,451	47,680	0.8%
*	Tesla Inc.	62,446	41,713	0.7%
	Starbucks Corp.	510,486	40,037	0.6%
	Comcast Corp.	915,604	37,018	0.6%
	Lowe’s Cos. Inc.	334,042	35,599	0.6%
	TJX Cos. Inc.	525,044	31,398	0.5%
*	Booking Holdings Inc.	18,055	30,615	0.5%
	Consumer Discretionary—Other †		349,803	5.6%
			1,130,776	18.0%
Consumer Staples
	PepsiCo Inc.	509,065	67,212	1.1%
	Coca-Cola Co.	1,131,674	60,533	0.9%
	Consumer Staples—Other †		89,521	1.4%
			217,266	3.4%

Energy †			13,842	0.2%

Financial Services
	Visa Inc.	741,504	134,776	2.1%
	Mastercard Inc.	383,723	111,376	1.8%
*	PayPal Holdings Inc.	508,046	54,864	0.9%
	American Tower Corp.	189,885	43,066	0.7%
	S&P Global Inc.	106,389	28,290	0.4%
*	Fiserv Inc.	243,795	26,661	0.4%
	Financial Services—Other †		377,869	6.0%
			776,902	12.3%

Russell 1000 Growth Index Fund
			Market	Percentage
			Value^●	of Net
		Shares	($000)	Assets
Health Care
	UnitedHealth Group Inc.	409,069	104,296	1.7%
	Merck & Co. Inc.	1,045,526	80,045	1.3%
	AbbVie Inc.	639,505	54,812	0.9%
	Amgen Inc.	238,557	47,647	0.8%
	Eli Lilly & Co.	367,823	46,394	0.7%
	Bristol-Myers Squibb Co.	593,588	35,057	0.6%
	Thermo Fisher Scientific Inc.	117,383	34,135	0.5%
	Stryker Corp.	148,243	28,254	0.4%
	Zoetis Inc.	207,092	27,591	0.4%
	Health Care—Other †		409,413	6.5%
			867,644	13.8%

Materials & Processing †			108,514	1.7%

Producer Durables
	Boeing Co.	228,858	62,961	1.0%
	Accenture plc Class A	275,791	49,805	0.8%
	Union Pacific Corp.	300,281	47,988	0.8%
	Lockheed Martin Corp.	106,969	39,565	0.6%
	Automatic Data Processing Inc.	188,009	29,093	0.5%
	3M Co.	185,125	27,628	0.4%
	United Parcel Service Inc.	301,937	27,322	0.4%
	Producer Durables—Other †		324,055	5.2%
			608,417	9.7%
Technology
	Microsoft Corp.	3,271,585	530,030	8.4%
	Apple Inc.	1,922,958	525,660	8.3%
*	Facebook Inc.	1,033,868	198,989	3.2%
*	Alphabet Inc. Class C	130,202	174,383	2.8%
*	Alphabet Inc. Class A	129,033	172,807	2.7%
	Cisco Systems Inc.	1,852,340	73,964	1.2%
*	Adobe Inc.	210,497	72,647	1.1%
	NVIDIA Corp.	252,247	68,124	1.1%
*	salesforce.com Inc.	358,916	61,159	1.0%
	Texas Instruments Inc.	406,080	46,350	0.7%
	Broadcom Inc.	166,958	45,516	0.7%
	Oracle Corp.	887,832	43,912	0.7%
	QUALCOMM Inc.	493,788	38,664	0.6%
	International Business Machines Corp.	231,958	30,189	0.5%
	Intuit Inc.	107,544	28,591	0.5%
	Technology—Other †		441,003	7.0%
			2,551,988	40.5%

Utilities †			9,802	0.2%
Total Common Stocks (Cost $4,599,825)			6,285,151	99.8%

Russell 1000 Growth Index Fund
			Market	Percentage
			Value^●	of Net
	Coupon	Shares	($000)	Assets
Temporary Cash Investments
Money Market Fund
^1,2 Vanguard Market Liquidity Fund	1.706%	107,219	10,725	0.2%

³U.S. Government and Agency Obligations †			819	0.0%
Total Temporary Cash Investments (Cost $11,542)			11,544	0.2%
⁴Total Investments (Cost $4,611,367)			6,296,695	100.0%
²Other Assets and Liabilities—Net			(2,018)	(0.0%)
Net Assets			6,294,677	100.0%

Cost rounded to $000.

●

See Note A in Notes to Financial Statements.

Non-income-producing security.

†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $3,996,000 was received for securities on loan.

Securities with a value of $672,000 have been segregated as initial margin for open futures contracts.

The total value of securities on loan is $3,869,000.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

				($000)
				Value and
		Number of		Unrealized
		Long (Short)	Notional	Appreciation
	Expiration	Contracts	Amount	(Depreciation)
Long Futures Contracts
E-mini S&P 500 Index	March 2020	70	10,329	(1,438)

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Growth Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $4,600,643)	6,285,970
Affiliated Issuers (Cost $10,724)	10,725
Total Investments in Securities	6,296,695
Investment in Vanguard	293
Receivables for Investment Securities Sold	150
Receivables for Accrued Income	6,815
Receivables for Capital Shares Issued	3,565
Total Assets	6,307,518
Liabilities
Payables for Investment Securities Purchased	13
Collateral for Securities on Loan	3,996
Payables for Capital Shares Redeemed	8,255
Payables to Vanguard	562
Variation Margin Payable—Futures Contracts	15
Total Liabilities	12,841
Net Assets	6,294,677
At February 29, 2020, net assets consisted of:

Paid-in Capital	4,563,498
Total Distributable Earnings (Loss)	1,731,179
Net Assets	6,294,677

ETF Shares—Net Assets
Applicable to 19,376,711 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	3,339,789
Net Asset Value Per Share—ETF Shares	$172.36

Institutional Shares—Net Assets
Applicable to 8,915,738 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	2,954,888
Net Asset Value Per Share—Institutional Shares	$331.42

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Growth Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Dividends	38,357
Interest¹	87
Securities Lending—Net	46
Total Income	38,490
Expenses
The Vanguard Group—Note B
Investment Advisory Services	477
Management and Administrative—ETF Shares	869
Management and Administrative—Institutional Shares	763
Marketing and Distribution—ETF Shares	107
Marketing and Distribution—Institutional Shares	60
Custodian Fees	76
Shareholders’ Reports—ETF Shares	37
Shareholders’ Reports—Institutional Shares	3
Trustees’ Fees and Expenses	1
Total Expenses	2,393
Net Investment Income	36,097
Realized Net Gain (Loss)
Investment Securities Sold^1,2	178,040
Futures Contracts	1,305
Realized Net Gain (Loss)	179,345
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹	94,551
Futures Contracts	(1,432)
Change in Unrealized Appreciation (Depreciation)	93,119
Net Increase (Decrease) in Net Assets Resulting from Operations	308,561

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $82,000, $6,000, and $,000, respectively. Purchases and sales are for temporary cash investment purposes.

2 Includes $172,707,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Growth Index Fund

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	36,097	66,842
Realized Net Gain (Loss)	179,345	266,693
Change in Unrealized Appreciation (Depreciation)	93,119	(81,179)
Net Increase (Decrease) in Net Assets Resulting from Operations	308,561	252,356
Distributions¹
ETF Shares	(18,119)	(24,807)
Institutional Shares	(18,054)	(32,305)
Total Distributions	(36,173)	(57,112)
Capital Share Transactions
ETF Shares	344,884	683,781
Institutional Shares	(270,464)	(195,359)
Net Increase (Decrease) from Capital Share Transactions	74,420	488,422
Total Increase (Decrease)	346,808	683,666
Net Assets
Beginning of Period	5,947,869	5,264,203
End of Period	6,294,677	5,947,869

1 Certain prior period numbers have been reclassified to conform with current period presentation

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Growth Index Fund

Financial Highlights

ETF Shares

	Six Months Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	164.56		$	159.56		$	127.08		$	106.90		$	98.24		$	95.74
Investment Operations
Net Investment Income		.991	¹		1.922	¹		1.762	¹		1.684	¹		1.602			1.466
Net Realized and Unrealized Gain (Loss) on Investments		7.805			4.711			32.386			20.177			8.556			2.481
Total from Investment Operations		8.799			6.633			34.148			21.861			10.158			3.947
Distributions
Dividends from Net Investment Income		(.999	)		(1.633	)		(1.668	)		(1.681	)		(1.498	)		(1.447	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(.999	)		(1.633	)		(1.668	)		(1.681	)		(1.498	)		(1.447	)
Net Asset Value, End of Period	$	172.36		$	164.56		$	159.56		$	127.08		$	106.90		$	98.24

Total Return		5.35	%		4.20	%		27.09	%		20.66	%		10.44	%		4.11	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	3,340		$	2,872		$	2,083		$	1,319		$	738		$	452
Ratio of Total Expenses to
Average Net Assets		0.08	%		0.08	%		0.12	%		0.12	%		0.12	%		0.12	%
Ratio of Net Investment Income to
Average Net Assets		1.12	%		1.25	%		1.24	%		1.45	%		1.60	%		1.47	%
Portfolio Turnover Rate²		1	%		17	%		15	%		21	%		15	%		20	%

The expense ratio and net investment income ratio for the current period have been annualized.

1 Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Growth Index Fund

Financial Highlights

Institutional Shares

	Six Months Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	316.39		$	306.82		$	244.34		$	205.53		$	188.88		$	184.06
Investment Operations
Net Investment Income		1.913	¹		3.711	¹		3.485	¹		3.291	¹		3.147			2.882
Net Realized and Unrealized Gain (Loss) on Investments		15.028			9.061			62.293			38.832			16.449			4.782
Total from Investment Operations		16.941			12.772			65.778			42.123			19.596			7.664
Distributions
Dividends from Net Investment Income		(1.911	)		(3.202	)		(3.298	)		(3.313	)		(2.946	)		(2.844	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(1.911	)		(3.202	)		(3.298	)		(3.313	)		(2.946	)		(2.844	)
Net Asset Value, End of Period	$	331.42		$	316.39		$	306.82		$	244.34		$	205.53		$	188.88

Total Return		5.36	%		4.21	%		27.14	%		20.72	%		10.48	%		4.15	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	2,955		$	3,076		$	3,182		$	2,476		$	1,989		$	1,560
Ratio of Total Expenses to
Average Net Assets		0.07	%		0.07	%		0.08	%		0.08	%		0.08	%		0.08	%
Ratio of Net Investment Income to
Average Net Assets		1.13	%		1.26	%		1.28	%		1.49	%		1.64	%		1.51	%
Portfolio Turnover Rate²		1	%		17	%		15	%		21	%		15	%		20	%

The expense ratio and net investment income ratio for the current period have been annualized.

1 Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 1000 Growth Index Fund

Notes to Financial Statements

Vanguard Russell 1000 Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

2. 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Russell 1000 Growth Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $293,000, representing less than 0.01% of the fund’s net assets and 0.12% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

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.).

Russell 1000 Growth Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1		Level 2		Level 3		Total
	($000)		($000)		($000)		($000)
Investments
Assets
Common Stocks		6,285,151		—		—		6,285,151
Temporary Cash Investments		10,725		819		—		11,544
Total		6,295,876		819		—		6,296,695
Derivative Financial Instruments
Liabilities
Futures Contracts¹		15		—		—		15

1 Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost		4,611,367
Gross Unrealized Appreciation		1,869,859
Gross Unrealized Depreciation		(185,969	)
Net Unrealized Appreciation (Depreciation)		1,683,890

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $145,242,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended February 29, 2020, the fund purchased $478,890,000 of investment securities and sold $414,255,000 of investment securities, other than temporary cash investments. Purchases and sales include $399,439,000 and $325,135,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

Russell 1000 Growth Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended									Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
	($000)				(000)		($000)				(000)
ETF Shares
Issued		677,186			3,850			1,469,861			9,450
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(332,302	)		(1,925	)		(786,080	)		(5,050	)
Net Increase (Decrease)—ETF Shares		344,884			1,925			683,781			4,400
Institutional Shares
Issued		186,198			548			493,524			1,733
Issued in Lieu of Cash Distributions		16,198			49			28,976			95
Redeemed		(472,860	)		(1,404	)		(717,859	)		(2,475	)
Net Increase (Decrease)—Institutional Shares		(270,464	)		(807	)		(195,359	)		(647	)

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

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Vanguard Marketing Corporation, Distributor.

Q18482 042020

Semiannual Report | February 29, 2020

Vanguard Russell 2000 Index Funds

Vanguard Russell 2000 Index Fund

Vanguard Russell 2000 Value Index Fund

Vanguard Russell 2000 Growth Index Fund

See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Contents

About Your Fund’s Expenses	1

Russell 2000 Index Fund	3

Russell 2000 Value Index Fund	17

Russell 2000 Growth Index Fund	31

About Your Fund’s Expenses

The accompanying table illustrates your fund’s costs in two ways:

Six Months Ended February 29, 2020

	Beginning		Ending		Expenses
	Account Value		Account Value		Paid During
	8/31/2019		2/29/2020		Period
Based on Actual Fund Return
Russell 2000 Index Fund
ETF Shares	$	1,000.00	$	995.32	$	0.50
Institutional Shares		1,000.00		995.38		0.40
Russell 2000 Value Index Fund
ETF Shares	$	1,000.00	$	974.09	$	0.74
Institutional Shares		1,000.00		974.37		0.39
Russell 2000 Growth Index Fund
ETF Shares	$	1,000.00	$	1,014.14	$	0.75
Institutional Shares		1,000.00		1,014.45		0.40
Based on Hypothetical 5% Yearly Return
Russell 2000 Index Fund
ETF Shares	$	1,000.00	$	1,024.37	$	0.50
Institutional Shares		1,000.00		1,024.47		0.40
Russell 2000 Value Index Fund
ETF Shares	$	1,000.00	$	1,024.12	$	0.75
Institutional Shares		1,000.00		1,024.47		0.40
Russell 2000 Growth Index Fund
ETF Shares	$	1,000.00	$	1,024.12	$	0.75
Institutional Shares		1,000.00		1,024.47		0.40

The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that period are: for the Russell 2000 Index Fund, 0.10% for ETF Shares and 0.08% for Institutional Shares; for the Russell 2000 Value Index Fund, 0.15% for ETF Shares and 0.08% for Institutional Shares; and for the Russell 2000 Growth Index Fund, 0.15% for ETF Shares and 0.08% for Institutional Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/366).

Russell 2000 Index Fund

Sector Diversification

As of February 29, 2020

Consumer Discretionary	12.6%
Consumer Staples	2.6
Energy	2.7
Financial Services	25.8
Health Care	18.5
Materials & Processing	6.3
Other	0.1
Producer Durables	13.9
Technology	12.9
Utilities	4.6

Russell 2000 Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
Common Stocks
Consumer Discretionary
*	Deckers Outdoor Corp.	30,624	5,322	0.3%
*	Chegg Inc.	129,121	5,063	0.2%
	Churchill Downs Inc.	38,309	4,813	0.2%
*	SiteOne Landscape Supply Inc.	44,550	4,422	0.2%
	Marriott Vacations Worldwide Corp.	45,157	4,370	0.2%
	Consumer Discretionary—Other †		229,111	11.4%
			253,101	12.5%
Consumer Staples
*	Performance Food Group Co.	112,228	4,758	0.3%
*	Helen of Troy Ltd.	27,377	4,506	0.2%
	Consumer Staples—Other †		42,898	2.1%
			52,162	2.6%
Energy
*,^	Enphase Energy Inc.	100,110	4,902	0.3%
	Energy—Other †		49,277	2.4%
			54,179	2.7%

Financial Services
	Rexford Industrial Realty Inc.	120,651	5,643	0.3%
	First Industrial Realty Trust Inc.	137,293	5,286	0.3%
	EastGroup Properties Inc.	41,305	5,193	0.3%
^	Blackstone Mortgage Trust Inc.	137,381	4,954	0.2%
	Healthcare Realty Trust Inc.	144,362	4,952	0.2%
	Radian Group Inc.	220,377	4,681	0.2%
	Essent Group Ltd.	104,951	4,580	0.2%
	Financial Services—Other †		484,475	24.0%
			519,764	25.7%
Health Care
*	Teladoc Health Inc.	78,731	9,838	0.5%
*	Novocure Ltd.	94,702	6,890	0.3%
*	Haemonetics Corp.	55,833	6,048	0.3%

Russell 2000 Index Fund
			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
*	Amedisys Inc.	34,196	5,950	0.3%
*	HealthEquity Inc.	75,511	5,361	0.3%
*	ACADIA Pharmaceuticals Inc.	122,758	5,247	0.3%
*	Repligen Corp.	57,004	4,880	0.3%
*	Reata Pharmaceuticals Inc.	24,381	4,748	0.2%
*	Tandem Diabetes Care Inc.	61,120	4,563	0.2%
*	Syneos Health Inc.	67,910	4,302	0.2%
*	Nevro Corp.	32,600	4,243	0.2%
*	Acceleron Pharma Inc.	49,110	4,220	0.2%
*	Iovance Biotherapeutics Inc.	127,894	4,209	0.2%
§	Health Care—Other †		303,355	15.0%
			373,854	18.5%
Materials & Processing
*	Trex Co. Inc.	64,059	6,127	0.3%
*	RBC Bearings Inc.	26,439	4,526	0.2%
	Cabot Microelectronics Corp.	31,609	4,402	0.2%
	Materials & Processing—Other †		112,216	5.6%
			127,271	6.3%

^§,1Other †			1,061	0.1%

Producer Durables
*	Generac Holdings Inc.	66,670	6,866	0.4%
*	Axon Enterprise Inc.	63,600	4,921	0.3%
	Tetra Tech Inc.	59,490	4,811	0.2%
	MSA Safety Inc.	38,472	4,681	0.2%
	EMCOR Group Inc.	60,841	4,680	0.2%
*	Darling Ingredients Inc.	179,015	4,601	0.2%
*	FTI Consulting Inc.	40,582	4,569	0.2%
	MAXIMUS Inc.	69,263	4,365	0.2%
	Brink’s Co.	54,428	4,261	0.2%
	Producer Durables—Other †		237,106	11.8%
			280,861	13.9%
Technology
*	Lumentum Holdings Inc.	84,290	6,559	0.3%
*	Tech Data Corp.	38,684	5,508	0.3%
	Science Applications International Corp.	63,101	5,056	0.3%
*	Five9 Inc.	65,213	4,762	0.2%
	j2 Global Inc.	50,826	4,439	0.2%
*	Cirrus Logic Inc.	63,486	4,358	0.2%
*	Mercury Systems Inc.	59,148	4,345	0.2%
	Technology—Other †		225,033	11.2%
			260,060	12.9%
Utilities
	Portland General Electric Co.	97,836	5,323	0.3%
	Black Hills Corp.	66,553	4,805	0.2%
	ONE Gas Inc.	56,947	4,678	0.2%
	Utilities—Other †		78,591	3.9%
			93,397	4.6%
Total Common Stocks (Cost $2,140,587)			2,015,710	99.8%

Russell 2000 Index Fund
			Market	Percentage
			Value^•	of Net
	Coupon	Shares	($000)	Assets
Temporary Cash Investments
Money Market Fund
^2,3 Vanguard Market Liquidity Fund	1.706%	432,431	43,256	2.2%

⁴ U.S. Government and Agency Obligations †			639	0.0%
Total Temporary Cash Investments (Cost $43,878)			43,895	2.2%
Total Investments (Cost $2,184,465)			2,059,605	102.0%
Other Assets and Liabilities—Net³			(41,306)	(-2.0%)
Net Assets			2,018,299	100.0%

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

Non-income-producing security.

^†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $39,662,000.

§ Certain of the fund’s securities are valued using significant unobservable inputs.

“Other” represents securities that are not classified by the fund’s benchmark index.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $43,112,000 was received for securities on loan, of which $43,060,000 is held in Vanguard Market Liquidity Fund and $52,000 is held in cash.

⁴

Securities with a value of $65,000 have been segregated as initial margin for open futures contracts.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

				($000)
				Value and
		Number of		Unrealized
		Long (Short)	Notional	Appreciation
	Expiration	Contracts	Amount	(Depreciation)
Long Futures Contracts
E-mini Russell 2000 Index	March 2020	36	2,655	(185)

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $2,141,225)	2,016,349
Affiliated Issuers (Cost $43,240)	43,256
Total Investments in Securities	2,059,605
Investment in Vanguard	100
Cash	273
Receivables for Investment Securities Sold	166
Receivables for Accrued Income	1,622
Receivables for Capital Shares Issued	366
Total Assets	2,062,132
Liabilities
Payables for Investment Securities Purchased	31
Collateral for Securities on Loan	43,112
Payables for Capital Shares Redeemed	427
Payables to Vanguard	250
Variation Margin Payable—Futures Contracts	13
Total Liabilities	43,833
Net Assets	2,018,299

At February 29, 2020, net assets consisted of:

Paid-in Capital	2,174,988
Total Distributable Earnings (Loss)	(156,689)
Net Assets	2,018,299

ETF Shares—Net Assets
Applicable to 11,850,000 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	1,399,524
Net Asset Value Per Share—ETF Shares	$118.10

Institutional Shares—Net Assets
Applicable to 2,739,024 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	618,775
Net Asset Value Per Share—Institutional Shares	$225.91

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Dividends	13,245
Interest¹	99
Securities Lending—Net	2,055
Total Income	15,399
Expenses
The Vanguard Group—Note B
Investment Advisory Services	175
Management and Administrative—ETF Shares	464
Management and Administrative—Institutional Shares	180
Marketing and Distribution—ETF Shares	51
Marketing and Distribution—Institutional Shares	16
Custodian Fees	173
Shareholders’ Reports—ETF Shares	27
Shareholders’ Reports—Institutional Shares	2
Trustees’ Fees and Expenses	1
Total Expenses	1,089
Net Investment Income	14,310
Realized Net Gain (Loss)
Investment Securities Sold^1,2	78,890
Futures Contracts	798
Realized Net Gain (Loss)	79,688
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹	(89,457)
Futures Contracts	296
Change in Unrealized Appreciation (Depreciation)	(89,161)
Net Increase (Decrease) in Net Assets Resulting from Operations	4,837

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $93,000, $5,000, and $8,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $148,221,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Index Fund

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	14,310	31,315
Realized Net Gain (Loss)	79,688	99,386
Change in Unrealized Appreciation (Depreciation)	(89,161)	(458,714)
Net Increase (Decrease) in Net Assets Resulting from Operations	4,837	(328,013)
Distributions¹
ETF Shares	(14,130)	(19,016)
Institutional Shares	(7,244)	(11,454)
Total Distributions	(21,374)	(30,470)
Capital Share Transactions
ETF Shares	(39,827)	(27,258)
Institutional Shares	(248,287)	12,275
Net Increase (Decrease) from Capital Share Transactions	(288,114)	(14,983)
Total Increase (Decrease)	(304,651)	(373,466)
Net Assets
Beginning of Period	2,322,950	2,696,416
End of Period	2,018,299	2,322,950

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Index Fund

Financial Highlights

ETF Shares

For a Share Outstanding		Six Months Ended February 29,								Year Ended August 31,
Throughout Each Period		2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	119.75		$	139.11		$	112.21		$	98.98		$	92.71		$	93.72
Investment Operations
Net Investment Income		.7761			1.5931			1.5541			1.4431			1.302			1.224	¹
Net Realized and Unrealized Gain (Loss)
on Investments		(1.253	)		(19.408	)		26.846			13.255			6.537			(1.163	)
Total from Investment Operations		(.477	)		(17.815	)		28.400			14.698			7.839			.061
Distributions
Dividends from Net Investment Income		(1.173	)		(1.545	)		(1.500	)		(1.468	)		(1.569	)		(1.071	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(1.173	)		(1.545	)		(1.500	)		(1.468	)		(1.569	)		(1.071	)
Net Asset Value, End of Period	$	118.10		$	119.75		$	139.11		$	112.21		$	98.98		$	92.71

Total Return		-0.47	%		-12.83	%		25.49	%		14.94	%		8.62	%		0.03	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	1,400		$	1,464		$	1,715		$	1,083		$	698		$	554
Ratio of Total Expenses to
Average Net Assets		0.10	%		0.10	%		0.15	%		0.15	%		0.15	%		0.15	%
Ratio of Net Investment Income to
Average Net Assets		1.35	%		1.30	%		1.23	%		1.34	%		1.52	%		1.28	%
Portfolio Turnover Rate²		6	%		16	%		19	%		23	%		19	%		17	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Index Fund

Financial Highlights

Institutional Shares

For a Share Outstanding		Six Months Ended February 29,								Year Ended August 31,
Throughout Each Period		2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	229.03		$	266.12		$	214.65		$	189.31		$	177.40		$	179.29
Investment Operations
Net Investment Income		1.5161			3.0781			3.1291			2.9561			2.606			2.453	¹
Net Realized and Unrealized Gain (Loss)
on Investments		(2.413	)		(37.106	)		51.369			25.315			12.503			(2.212	)
Total from Investment Operations		(.897	)		(34.028	)		54.498			28.271			15.109			.241
Distributions
Dividends from Net Investment Income		(2.223	)		(3.062	)		(3.028	)		(2.931	)		(3.199	)		(2.131	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(2.223	)		(3.062	)		(3.028	)		(2.931	)		(3.199	)		(2.131	)
Net Asset Value, End of Period	$	225.91		$	229.03		$	266.12		$	214.65		$	189.31		$	177.40

Total Return		-0.46	%		-12.83	%		25.58	%		15.03	%		8.69	%		0.11	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	619		$	859		$	982		$	576		$	479		$	528
Ratio of Total Expenses to
Average Net Assets		0.08	%		0.08	%		0.08	%		0.08	%		0.08	%		0.08	%
Ratio of Net Investment Income to
Average Net Assets		1.38	%		1.32	%		1.30	%		1.41	%		1.59	%		1.35	%
Portfolio Turnover Rate²		6	%		16	%		19	%		23	%		19	%		17	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Index Fund

Notes to Financial Statements

Vanguard Russell 2000 Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

1.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.

2. 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Russell 2000 Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $100,000, representing less than 0.01% of the fund’s net assets and 0.04% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

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.).

Russell 2000 Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1	Level 2	Level 3	Total
	($000)	($000)	($000)	($000)
Investments
Assets
Common Stocks	2,015,622	—	88	2,015,710
Temporary Cash Investments	43,256	639	—	43,895
Total	2,058,878	639	88	2,059,605
Derivative Financial Instruments
Liabilities
Futures Contracts¹	13	—	—	13

1 Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost	2,184,937
Gross Unrealized Appreciation	291,668
Gross Unrealized Depreciation	(417,185)
Net Unrealized Appreciation (Depreciation)	(125,517)

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $111,815,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended February 29, 2020, the fund purchased $535,093,000 of investment securities and sold $818,859,000 of investment securities, other than temporary cash investments. Purchases and sales include $369,211,000 and $437,948,000 respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

Russell 2000 Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended			Year Ended
	February 29, 2020		August 31, 2019
	Amount	Shares	Amount	Shares
	($000)	(000)	($000)	(000)
ETF Shares
Issued	399,865	3,025	384,122	3,200
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(439,692)	(3,400)	(411,380)	(3,300)
Net Increase (Decrease)—ETF Shares	(39,827)	(375)	(27,258)	(100)
Institutional Shares
Issued	71,532	292	127,299	549
Issued in Lieu of Cash Distributions	7,021	29	11,202	47
Redeemed	(326,840)	(1,332)	(126,226)	(535)
Net Increase (Decrease)—Institutional Shares	(248,287)	(1,011)	12,275	61

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Russell 2000 Value Index Fund

Sector Diversification

As of February 29, 2020

Consumer Discretionary	12.1%
Consumer Staples	1.7
Energy	4.3
Financial Services	42.2
Health Care	5.4
Materials & Processing	6.0
Other	0.0
Producer Durables	12.2
Technology	9.2
Utilities	6.9
The table reflects the fund’s investments, except for short-term investments and derivatives. Sector categories are based on the Russell Global Sectors (“RGS”), except for the “Other” category (if applicable), which includes securities that have not been provided a RGS classification as of the effective reporting period.

The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, at-tempting to remain fully invested and tracking their target index as closely as possible.

Russell 2000 Value Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
Common Stocks
Consumer Discretionary
	Marriott Vacations Worldwide Corp.	14,980	1,450	0.4%
	TEGNA Inc.	96,343	1,380	0.4%
*	Penn National Gaming Inc.	43,238	1,279	0.3%
*	Taylor Morrison Home Corp.	50,560	1,139	0.3%
	Consumer Discretionary—Other ^†		41,137	10.6%
			46,385	12.0%

Consumer Staples ^†			6,684	1.7%

Energy ^†			16,590	4.3%

Financial Services
	Rexford Industrial Realty Inc.	48,671	2,276	0.6%
	Healthcare Realty Trust Inc.	58,333	2,001	0.5%
^	Blackstone Mortgage Trust Inc.	55,150	1,989	0.5%
	Radian Group Inc.	89,051	1,891	0.5%
	First Industrial Realty Trust Inc.	44,167	1,700	0.4%
	Sabra Health Care REIT Inc.	84,964	1,661	0.4%
	STAG Industrial Inc.	58,612	1,640	0.4%
	Stifel Financial Corp.	29,269	1,593	0.4%
	Valley National Bancorp	169,845	1,580	0.4%
	Physicians Realty Trust	82,609	1,558	0.4%
	Terreno Realty Corp.	25,979	1,425	0.4%
	IBERIABANK Corp.	22,988	1,384	0.4%
	Community Bank System Inc.	22,443	1,365	0.4%
	Agree Realty Corp.	18,276	1,313	0.3%
	Hancock Whitney Corp.	38,263	1,282	0.3%
	United Bankshares Inc.	42,726	1,234	0.3%
	Glacier Bancorp Inc.	32,513	1,212	0.3%

Russell 2000 Value Index Fund

			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
	Piedmont Office Realty Trust Inc.	55,150	1,191	0.3%
	Pebblebrook Hotel Trust	58,100	1,174	0.3%
	Old National Bancorp	74,043	1,167	0.3%
	Home BancShares Inc.	69,036	1,157	0.3%
	Invesco Mortgage Capital Inc.	70,670	1,136	0.3%
	UMB Financial Corp.	19,480	1,133	0.3%
	Financial Services—Other ^†		128,088	33.1%
			162,150	41.8%
Health Care
*	Syneos Health Inc.	25,539	1,618	0.4%
	Health Care—Other ^†		18,931	4.9%
			20,549	5.3%
Materials & Processing
	Louisiana-Pacific Corp.	44,751	1,273	0.3%
	Rexnord Corp.	42,018	1,225	0.3%
^§	Materials & Processing—Other ^†		20,563	5.3%
			23,061	5.9%

^§,1Other ^†			80	0.0%

Producer Durables
*	Darling Ingredients Inc.	71,929	1,849	0.5%
*	FTI Consulting Inc.	14,809	1,667	0.4%
	KBR Inc.	62,255	1,616	0.4%
	UniFirst Corp.	6,633	1,233	0.3%
	Producer Durables—Other ^†		40,484	10.5%
			46,849	12.1%
Technology
*	Lumentum Holdings Inc.	33,882	2,637	0.7%
*	Tech Data Corp.	15,561	2,216	0.6%
*	Cirrus Logic Inc.	25,516	1,751	0.4%
	Perspecta Inc.	57,162	1,427	0.4%
*	Anixter International Inc.	13,428	1,309	0.3%
	Technology—Other †		25,783	6.7%
			35,123	9.1%
Utilities
	Portland General Electric Co.	39,259	2,136	0.6%
	Black Hills Corp.	26,890	1,941	0.5%
	ONE Gas Inc.	22,987	1,888	0.5%
	Spire Inc.	21,928	1,646	0.4%
	PNM Resources Inc.	34,825	1,640	0.4%
	ALLETE Inc.	22,855	1,577	0.4%
	NorthWestern Corp.	22,364	1,573	0.4%
	Avista Corp.	29,185	1,376	0.4%
	Southwest Gas Holdings Inc.	21,129	1,367	0.4%
	New Jersey Resources Corp.	36,288	1,281	0.3%
*	Iridium Communications Inc.	43,973	1,190	0.3%
	Utilities—Other ^†		9,048	2.3%
			26,663	6.9%
Total Common Stocks (Cost $413,809)			384,134	99.1%

Russell 2000 Value Index Fund

			Market	Percentage
			Value^•	of Net
	Coupon	Shares	($000)	Assets
Temporary Cash Investments
Money Market Fund
^2,3 Vanguard Market Liquidity Fund	1.706%	60,167	6,019	1.6%

⁴ U.S. Government and Agency Obligations ^†			84	0.0%
Total Temporary Cash Investments (Cost $6,102)			6,103	1.6%
Total Investments (Cost $419,911)			390,237	100.7%
Other Assets and Liabilities—Net^3,4			(2,720)	(-0.7%)
Net Assets			387,517	100.0%

Cost rounded to $000.

• See Note A in Notes to Financial Statements.

* Non-income-producing security.

†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $4,181,000.

§ Certain of the fund’s securities are valued using significant unobservable inputs.

“Other” represents securities that are not classified by the fund’s benchmark index.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $4,563,000 was received for securities on loan, of which $4,542,000 is held in Vanguard Market Liquidity Fund and $21,000 is held in cash.

Securities with a value of $84,000 and cash of $5,000 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)
				Value and
		Number of		Unrealized
		Long (Short)	Notional	Appreciation
	Expiration	Contracts	Amount	(Depreciation)
Long Futures Contracts
E-mini Russell 2000 Index	March 2020	34	2,507	(155)

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Value Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $413,894)	384,218
Affiliated Issuers (Cost $6,017)	6,019
Total Investments in Securities	390,237
Investment in Vanguard	19
Cash	21
Cash Collateral Pledged—Futures Contracts	5
Receivables for Accrued Income	455
Receivables for Capital Shares Issued	1,418
Total Assets	392,155
Liabilities
Payables for Investment Securities Purchased	4
Collateral for Securities on Loan	4,563
Payables to Vanguard	56
Variation Margin Payable—Futures Contracts	15
Total Liabilities	4,638
Net Assets	387,517

At February 29, 2020, net assets consisted of:

Paid-in Capital	445,788
Total Distributable Earnings (Loss)	(58,271)
Net Assets	387,517

ETF Shares—Net Assets
Applicable to 2,625,000 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	251,312
Net Asset Value Per Share—ETF Shares	$95.74

Institutional Shares—Net Assets
Applicable to 721,317 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	136,205
Net Asset Value Per Share—Institutional Shares	$188.83

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Value Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Dividends	3,542
Interest¹	13
Securities Lending—Net	224
Total Income	3,779
Expenses
The Vanguard Group—Note B
Investment Advisory Services	32
Management and Administrative—ETF Shares	158
Management and Administrative—Institutional Shares	37
Marketing and Distribution—ETF Shares	9
Marketing and Distribution—Institutional Shares	3
Custodian Fees	25
Shareholders’ Reports—ETF Shares	5
Shareholders’ Reports—Institutional Shares	—
Trustees’ Fees and Expenses	—
Total Expenses	269
Net Investment Income	3,510
Realized Net Gain (Loss)
Investment Securities Sold¹	(535)
Futures Contracts	275
Realized Net Gain (Loss)	(260)
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹	(13,810)
Futures Contracts	(120)
Change in Unrealized Appreciation (Depreciation)	(13,930)
Net Increase (Decrease) in Net Assets Resulting from Operations	(10,680)

1 Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $13,000, $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Value Index Fund

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	3,510	6,850
Realized Net Gain (Loss)	(260)	15,080
Change in Unrealized Appreciation (Depreciation)	(13,930)	(75,606)
Net Increase (Decrease) in Net Assets Resulting from Operations	(10,680)	(53,676)
Distributions¹
ETF Shares	(3,481)	(3,946)
Institutional Shares	(1,889)	(2,495)
Total Distributions	(5,370)	(6,441)
Capital Share Transactions
ETF Shares	10,828	62,708
Institutional Shares	1,466	14,009
Net Increase (Decrease) from Capital Share Transactions	12,294	76,717
Total Increase (Decrease)	(3,756)	16,600
Net Assets
Beginning of Period	391,273	374,673
End of Period	387,517	391,273

1 Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Value Index Fund

Financial Highlights

ETF Shares

For a Share Outstanding		Six Months Ended February 29,								Year Ended August 31,
Throughout Each Period		2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	99.51		$	119.05		$	100.96		$	90.64		$	81.88		$	87.76
Investment Operations
Net Investment Income		.8661			1.9121			1.9051			1.7361			1.561			1.530
Net Realized and Unrealized Gain (Loss)
on Investments		(3.298	)		(19.589	)		18.070			10.358			9.305			(5.907	)
Total from Investment Operations		(2.432	)		(17.677	)		19.975			12.094			10.866			(4.377	)
Distributions
Dividends from Net Investment Income		(1.338	)		(1.863	)		(1.885	)		(1.774	)		(2.106	)		(1.503	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(1.338	)		(1.863	)		(1.885	)		(1.774	)		(2.106	)		(1.503	)
Net Asset Value, End of Period	$	95.74		$	99.51		$	119.05		$	100.96		$	90.64		$	81.88

Total Return		-2.59	%		-14.93	%		19.96	%		13.42	%		13.62	%		-5.10	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	251		$	251		$	223		$	172		$	120		$	74
Ratio of Total Expenses to
Average Net Assets		0.15	%		0.15	%		0.20	%		0.20	%		0.20	%		0.20	%
Ratio of Net Investment Income to
Average Net Assets		1.86	%		1.83	%		1.73	%		1.76	%		2.02	%		1.80	%
Portfolio Turnover Rate²		4	%		27	%		30	%		36	%		31	%		28	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Value Index Fund

Financial Highlights

Institutional Shares

For a Share Outstanding		Six Months Ended February 29,								Year Ended August 31,
Throughout Each Period		2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	196.24		$	234.81		$	199.13		$	178.76		$	161.59		$	173.15
Investment Operations
Net Investment Income		1.7821			3.9661			4.0291			3.7371			3.265			3.195
Net Realized and Unrealized Gain (Loss)
on Investments		(6.518	)		(38.670	)		35.618			20.356			18.355			(11.619	)
Total from Investment Operations		(4.736	)		(34.704	)		39.647			24.093			21.620			(8.424	)
Distributions
Dividends from Net Investment Income		(2.674	)		(3.866	)		(3.967	)		(3.723	)		(4.450	)		(3.136	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(2.674	)		(3.866	)		(3.967	)		(3.723	)		(4.450	)		(3.136	)
Net Asset Value, End of Period	$	188.83		$	196.24		$	234.81		$	199.13		$	178.76		$	161.59

Total Return		-2.56	%		-14.88	%		20.10	%		13.55	%		13.76	%		-4.97	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	136		$	140		$	151		$	146		$	129		$	71
Ratio of Total Expenses to
Average Net Assets		0.08	%		0.08	%		0.08	%		0.08	%		0.08	%		0.08	%
Ratio of Net Investment Income to
Average Net Assets		1.93	%		1.90	%		1.85	%		1.88	%		2.14	%		1.92	%
Portfolio Turnover Rate²		4	%		27	%		30	%		36	%		31	%		28	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Value Index Fund

Notes to Financial Statements

Vanguard Russell 2000 Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

2. 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Russell 2000 Value Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $19,000, representing less than 0.01% of the fund’s net assets and 0.01% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

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.).

Russell 2000 Value Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1	Level 2	Level 3	Total
	($000)	($000)	($000)	($000)
Investments
Assets
Common Stocks	384,131	—	3	384,134
Temporary Cash Investments	6,019	84	—	6,103
Total	390,150	84	3	390,237
Derivative Financial Instruments
Liabilities
Futures Contracts¹	15	—	—	15

1 Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost	420,067
Gross Unrealized Appreciation	46,281
Gross Unrealized Depreciation	(76,266)
Net Unrealized Appreciation (Depreciation)	(29,985)

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $28,104,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended February 29, 2020, the fund purchased $28,484,000 of investment securities and sold $18,588,000 of investment securities, other than temporary cash investments. Purchases and sales include $10,827,000 and $0, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 29, 2020, such purchases and sales were $2,077,000 and $2,080,000, respectively; these amounts are included in the purchases and sales of investment securities noted above.

Russell 2000 Value Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended			Year Ended
	February 29, 2020		August 31, 2019
	Amount	Shares	Amount	Shares
	($000)	(000)	($000)	(000)
ETF Shares
Issued	10,828	100	131,976	1,300
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	—	—	(69,268)	(650)
Net Increase (Decrease)—ETF Shares	10,828	100	62,708	650
Institutional Shares
Issued	12,055	57	36,227	176
Issued in Lieu of Cash Distributions	1,889	9	2,464	12
Redeemed	(12,478)	(58)	(24,682)	(120)
Net Increase (Decrease)—Institutional Shares	1,466	8	14,009	68

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Russell 2000 Growth Index Fund

Sector Diversification

As of February 29, 2020

Consumer Discretionary	13.0	%
Consumer Staples	3.3
Energy	1.2
Financial Services	11.1
Health Care	30.4
Materials & Processing	6.6
Other	0.0
Producer Durables	15.5
Technology	16.3
Utilities	2.6

Russell 2000 Growth Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

		Shares		Market Value^● ($000)		Percentage of Net Assets
Common Stocks
Consumer Discretionary
^*	Deckers Outdoor Corp.		22,932		3,986		0.5	%
^*	Chegg Inc.		96,699		3,792		0.5	%
	Churchill Downs Inc.		28,666		3,602		0.4	%
^*	SiteOne Landscape Supply Inc.		33,338		3,309		0.4	%
	Texas Roadhouse Inc.		53,916		3,031		0.4	%
	Cracker Barrel Old Country Store Inc.		19,609		2,811		0.4	%
^*	Eldorado Resorts Inc.		53,908		2,705		0.3	%
	Consumer Discretionary—Other †				80,111		10.1	%
					103,347		13.0	%
Consumer Staples
^*	Performance Food Group Co.		84,086		3,565		0.4	%
^*	Helen of Troy Ltd.		20,520		3,378		0.4	%
	Consumer Staples—Other †				19,674		2.5	%
					26,617		3.3	%
Energy
^*	Enphase Energy Inc.		74,962		3,671		0.5	%
	Energy—Other †				6,058		0.7	%
					9,729		1.2	%
Financial Services
	EastGroup Properties Inc.		30,941		3,890		0.5	%
	First Financial Bankshares Inc.		106,552		3,062		0.4	%
	Financial Services—Other †				81,283		10.2	%
					88,235		11.1	%
Health Care
^{*,^}	Teladoc Health Inc.		59,005		7,373		0.9	%
^*	Novocure Ltd.		70,876		5,156		0.6	%
^*	Haemonetics Corp.		41,805		4,529		0.6	%
^*	Amedisys Inc.		25,623		4,459		0.6	%

Russell 2000 Growth Index Fund

		Shares		Market Value^● ($000)		Percentage of Net Assets
^*	HealthEquity Inc.		56,642		4,021		0.5	%
^*	ACADIA Pharmaceuticals Inc.		91,906		3,928		0.5	%
^*	Repligen Corp.		42,656		3,651		0.5	%
^*	Tandem Diabetes Care Inc.		45,836		3,422		0.4	%
^*	Nevro Corp.		24,406		3,176		0.4	%
^*	Iovance Biotherapeutics Inc.		95,887		3,156		0.4	%
^*	Wright Medical Group NV		103,197		3,122		0.4	%
^*	Global Blood Therapeutics Inc.		47,433		3,034		0.4	%
^*	LHC Group Inc.		24,559		2,983		0.4	%
^*	Globus Medical Inc.		62,049		2,806		0.4	%
^*	NuVasive Inc.		42,401		2,790		0.3	%
^*	AMN Healthcare Services Inc.		37,615		2,768		0.3	%
^*	Omnicell Inc.		33,919		2,763		0.3	%
^§	Health Care—Other †				178,358		22.4	%
					241,495		30.3	%
Materials & Processing
^*	Trex Co. Inc.		47,958		4,587		0.6	%
^*	RBC Bearings Inc.		19,783		3,387		0.4	%
	Cabot Microelectronics Corp.		23,652		3,294		0.4	%
	Simpson Manufacturing Co. Inc.		36,539		2,902		0.4	%
	Materials & Processing—Other †				38,248		4.8	%
					52,418		6.6	%

^§,1 Other †					375		0.0	%

Producer Durables
^*	Generac Holdings Inc.		49,956		5,145		0.6	%
^*	Axon Enterprise Inc.		47,620		3,684		0.5	%
	Tetra Tech Inc.		44,508		3,599		0.5	%
	MSA Safety Inc.		28,811		3,505		0.4	%
	MAXIMUS Inc.		51,972		3,275		0.4	%
	Brink’s Co.		40,747		3,190		0.4	%
	Exponent Inc.		42,204		3,108		0.4	%
^*	TopBuild Corp.		27,298		2,757		0.4	%
	Producer Durables—Other †				95,018		11.9	%
					123,281		15.5	%
Technology
	Science Applications International Corp.		47,306		3,791		0.5	%
^*	Five9 Inc.		48,798		3,564		0.4	%
	j2 Global Inc.		38,019		3,320		0.4	%
^*	Mercury Systems Inc.		44,260		3,251		0.4	%
^*	Silicon Laboratories Inc.		35,057		3,109		0.4	%
^*	Envestnet Inc.		39,384		2,973		0.4	%
^*	Everbridge Inc.		27,204		2,874		0.4	%
^*	Verint Systems Inc.		51,290		2,815		0.4	%
^*	Inphi Corp.		36,677		2,738		0.3	%
	Technology—Other †				101,167		12.7	%
					129,602		16.3	%

Utilities †					20,474		2.6	%
Total Common Stocks (Cost $732,607)					795,573		99.9	%

Russell 2000 Growth Index Fund

	Coupon		Shares	Market Value^● ($000)		Percentage of Net Assets
Temporary Cash Investments
Money Market Fund
2,3 Vanguard Market Liquidity Fund	1.706	%	181,490	18,154		2.3	%

4 U.S. Government and Agency Obligations †				93		0.0	%
Total Temporary Cash Investments (Cost $18,241)				18,247		2.3	%
Total Investments (Cost $750,848)				813,820		102.2	%
Other Assets and Liabilities—Net³				(17,193	)	(-2.2	%)
Net Assets				796,627		100.0	%

Cost rounded to $000.

●

See Note A in Notes to Financial Statements.

Non-income-producing security.

^†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

^{^} Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $17,456,000.

§ Certain of the fund’s securities are valued using significant unobservable inputs.

“Other” represents securities that are not classified by the fund’s benchmark index.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $19,170,000 was received for securities on loan, of which $17,809,000 is held in Vanguard Market Liquidity Fund and $1,361,000 is held in cash.

⁴

Securities with a value of $57,000 have been segregated as initial margin for open futures contracts.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

($000)

Value and

Number of

Unrealized

Long (Short)

Notional

Appreciation

Expiration

Contracts

Amount

(Depreciation)

Long Futures Contracts

E-mini Russell 2000 Index

March 2020

1,254

(106

)

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Growth Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $732,700)		795,666
Affiliated Issuers (Cost $18,148)		18,154
Total Investments in Securities		813,820
Investment in Vanguard		38
Cash		1,482
Receivables for Investment Securities Sold		126
Receivables for Accrued Income		344
Receivables for Capital Shares Issued		1,272
Total Assets		817,082
Liabilities
Payables for Investment Securities Purchased		10
Collateral for Securities on Loan		19,170
Payables for Capital Shares Redeemed		1,171
Payables to Vanguard		95
Variation Margin Payable—Futures Contracts		9
Total Liabilities		20,455
Net Assets		796,627

At February 29, 2020, net assets consisted of:


Paid-in Capital		815,851
Total Distributable Earnings (Loss)		(19,224	)
Net Assets		796,627

ETF Shares—Net Assets
Applicable to 2,200,000 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)		314,485
Net Asset Value Per Share—ETF Shares	$	142.95

Institutional Shares—Net Assets
Applicable to 1,770,544 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)		482,142
Net Asset Value Per Share—Institutional Shares	$	272.31

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Growth Index Fund

Statement of Operations


	Six Months Ended February 29, 2020
		($000	)
Investment Income
Income
Dividends		2,874
Interest¹		17
Securities Lending—Net		914
Total Income		3,805
Expenses
The Vanguard Group—Note B
Investment Advisory Services		62
Management and Administrative—ETF Shares		184
Management and Administrative—Institutional Shares		126
Marketing and Distribution—ETF Shares		9
Marketing and Distribution—Institutional Shares		10
Custodian Fees		40
Shareholders’ Reports—ETF Shares		8
Shareholders’ Reports—Institutional Shares		3
Trustees’ Fees and Expenses		—
Total Expenses		442
Net Investment Income		3,363
Realized Net Gain (Loss)
Investment Securities Sold^1,2		12,916
Futures Contracts		107
Realized Net Gain (Loss)		13,023
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹		(6,214	)
Futures Contracts		(89	)
Change in Unrealized Appreciation (Depreciation)		(6,303	)
Net Increase (Decrease) in Net Assets Resulting from Operations		10,083

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $17,000, $1,000 and $4,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $8,667,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Growth Index Fund

Statement of Changes in Net Assets

	Six Months Ended			Year Ended
	February 29,			August 31,
	2020			2019
		($000	)		($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		3,363			5,609
Realized Net Gain (Loss)		13,023			19,075
Change in Unrealized Appreciation (Depreciation)		(6,303	)		(119,272	)
Net Increase (Decrease) in Net Assets Resulting from Operations		10,083			(94,588	)
Distributions¹
ETF Shares		(1,504	)		(1,913	)
Institutional Shares		(2,416	)		(3,646	)
Total Distributions		(3,920	)		(5,559	)
Capital Share Transactions
ETF Shares		11,690			9,770
Institutional Shares		5,528			(9,899	)
Net Increase (Decrease) from Capital Share Transactions		17,218			(129	)
Total Increase (Decrease)		23,381			(100,276	)
Net Assets
Beginning of Period		773,246			873,522
End of Period		796,627			773,246

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Growth Index Fund

Financial Highlights

ETF Shares

For a Share Outstanding	Six Months Ended February 29,			Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	141.63		$	160.12		$	123.26		$	106.98		$	104.34		$	99.83
Investment Operations
Net Investment Income		.5821			.9711			.8951			.9611			.989			.680
Net Realized and Unrealized Gain (Loss) on Investments		1.441			(18.527	)		36.791			16.455			2.721			4.471
Total from Investment Operations		2.023			(17.556	)		37.686			17.416			3.710			5.151
Distributions
Dividends from Net Investment Income		(.703	)		(.934	)		(.826	)		(1.136	)		(1.070	)		(.641	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(.703	)		(.934	)		(.826	)		(1.136	)		(1.070	)		(.641	)
Net Asset Value, End of Period	$	142.95		$	141.63		$	160.12		$	123.26		$	106.98		$	104.34

Total Return		1.41	%		-10.97	%		30.69	%		16.39	%		3.62	%		5.17	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	314		$	301		$	328		$	194		$	144		$	149
Ratio of Total Expenses to Average Net Assets		0.15	%		0.15	%		0.20	%		0.20	%		0.20	%		0.20	%
Ratio of Net Investment Income to Average Net Assets		0.78	%		0.68	%		0.64	%		0.83	%		0.99	%		0.67	%
Portfolio Turnover Rate²		6	%		28	%		35	%		34	%		33	%		34	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Growth Index Fund

Financial Highlights

Institutional Shares

For a Share Outstanding	Six Months Ended February 29,			Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period	$	269.76		$	305.04		$	234.80		$	203.79		$	198.85		$	190.26
Investment Operations
Net Investment Income		1.2081			2.0211			2.0261			2.1021			2.121			1.478
Net Realized and Unrealized Gain (Loss) on Investments		2.734			(35.267	)		70.080			31.338			5.185			8.565
Total from Investment Operations		3.942			(33.246	)		72.106			33.440			7.306			10.043
Distributions
Dividends from Net Investment Income		(1.392	)		(2.034	)		(1.866	)		(2.430	)		(2.366	)		(1.453	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(1.392	)		(2.034	)		(1.866	)		(2.430	)		(2.366	)		(1.453	)
Net Asset Value, End of Period	$	272.31		$	269.76		$	305.04		$	234.80		$	203.79		$	198.85

Total Return		1.44	%		-10.91	%		30.85	%		16.53	%		3.74	%		5.29	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$	482		$	472		$	545		$	370		$	219		$	187
Ratio of Total Expenses to Average Net Assets		0.08	%		0.08	%		0.08	%		0.08	%		0.08	%		0.08	%
Ratio of Net Investment Income to Average Net Assets		0.85	%		0.75	%		0.76	%		0.95	%		1.11	%		0.79	%
Portfolio Turnover Rate²		6	%		28	%		35	%		34	%		33	%		34	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 2000 Growth Index Fund

Notes to Financial Statements

Vanguard Russell 2000 Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

2. 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Russell 2000 Growth Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $38,000, representing less than 0.01% of the fund’s net assets and 0.02% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

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.).

Russell 2000 Growth Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1			Level 2			Level 3			Total
		($000	)		($000	)		($000	)		($000	)
Investments
Assets
Common Stocks		795,521			—			52			795,573
Temporary Cash Investments		18,154			93			—			18,247
Total		813,675			93			52			813,820
Derivative Financial Instruments
Liabilities
Futures Contracts¹		9			—			—			9

1 Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000	)
Tax Cost		750,892
Gross Unrealized Appreciation		169,202
Gross Unrealized Depreciation		(106,380	)
Net Unrealized Appreciation (Depreciation)		62,822

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $95,856,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended February 29, 2020, the fund purchased $84,631,000 of investment securities and sold $67,650,000 of investment securities, other than temporary cash investments. Purchases and sales include $11,224,000 and $23,113,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 29, 2020, such purchases and sales were $4,319,000 and $7,409,000, respectively; these amounts are included in the purchases and sales of investment securities noted above.

Russell 2000 Growth Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended February 29, 2020						Year Ended August 31, 2019
	Amount			Shares			Amount			Shares
		($000	)		(000	)		($000	)		(000	)
ETF Shares
Issued		37,237			250			150,524			1,050
Issued in Lieu of Cash Distributions		—			—			—
Redeemed		(25,547	)		(175	)		(140,754	)		(975	)
Net Increase (Decrease)—ETF Shares		11,690			75			9,770			75
Institutional Shares
Issued		55,621			195			46,667			176
Issued in Lieu of Cash Distributions		2,416			9			3,646			13
Redeemed		(52,509	)		(184	)		(60,212	)		(226	)
Net Increase (Decrease)—Institutional Shares		5,528			20			(9,899	)		(37	)

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

The Products are not sponsored, endorsed, sold or promoted by Frank Russell Company (“Russell”). Russell makes no representation or warranty, express or implied, to the owners of the Products or any member of the public regarding the advisability of investing in securities generally or in the Products particularly or the ability of the Russell 2000, Russell 2000 Value, and Russell 2000 Growth Indexes to track general stock market performance or a segment of the same. Russell’s publication of the Russell 2000, Russell 2000 Value, and Russell 2000 Growth Indexes in no way suggests or implies an opinion by Russell as to the advisability of investment in any or all of the securities upon which the Russell 2000, Russell 2000 Value, and Russell 2000 Growth Indexes are based. Russell’s only relationship to The Vanguard Group, Inc. is the licensing of certain trademarks and trade names of Russell and of the Russell 2000, Russell 2000 Value, and Russell 2000 Growth Indexes which are determined, composed and calculated by Russell without regard to The Vanguard Group, Inc. or the Products. Russell is not responsible for and has not reviewed the Products nor any associated literature or publications and Russell makes no representation or warranty express or implied as to their accuracy or completeness, or otherwise. Russell has no obligation or liability in connection with the administration, marketing or trading of the Products.

Russell makes no representation, warranty or guarantee as to the accuracy, completeness, reliability or otherwise of the Russell Indexes or any data included in the Russell Indexes. Russell does not guarantee the accuracy and/or the completeness of the Russell 2000, Russell 2000 Value, and Russell 2000 Growth Indexes or any data included therein and Russell shall have no liability for any errors, omissions, or interruptions therein. Russell makes no warranty, express or implied, as to the use of or results to be obtained by The Vanguard Group, Inc., investors, owners of the Products, or any other person or entity from the use of the Russell 2000, Russell 2000 Value, and Russell 2000 Growth Indexes or any data included therein. Russell makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Russell 2000, Russell 2000 Value, and Russell 2000 Growth Indexes or any data included therein. Without limiting any of the foregoing, in no event shall Russell have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

Connect with Vanguard^® > vanguard.com

Fund Information > 800-662-7447

Direct Investor Account Services > 800-662-2739

Institutional Investor Services > 800-523-1036

Text Telephone for People

Who Are Deaf or Hard of Hearing > 800-749-7273

This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

	© 2020 The Vanguard Group, Inc. All rights reserved.
	U.S. Patent Nos. 6,879,964; 7,337,138;
	7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636. Vanguard Marketing Corporation, Distributor.

	Q18512 042020

Semiannual Report | February 29, 2020

Vanguard Russell 3000 Index Fund

See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Contents

About Your Fund’s Expenses	1

Financial Statements	4

About Your Fund’s Expenses

The accompanying table illustrates your fund’s costs in two ways:

• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Six Months Ended February 29, 2020

	Beginning	Ending	Expenses
	Account Value	Account Value	Paid During
Russell 3000 Index Fund	8/31/2019	2/29/2020	Period
Based on Actual Fund Return
ETF Shares	$1,000.00	$1,017.63	$0.50
Institutional Shares	1,000.00	1,017.82	0.40
Based on Hypothetical 5% Yearly Return
ETF Shares	$1,000.00	$1,024.37	$0.50
Institutional Shares	1,000.00	1,024.47	0.40

The calculations are based on expenses incurred in the most recent six-month period. The fund’s annualized six-month expense ratios for that period are 0.10% for ETF Shares and 0.08% for Institutional Shares. The dollar amounts shown as ”Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/366).

Russell 3000 Index Fund

Sector Diversification

As of February 29, 2020

Consumer Discretionary	14.6%
Consumer Staples	5.8
Energy	3.3
Financial Services	20.5
Health Care	13.6
Materials & Processing	3.2
Other	0.0
Producer Durables	9.6
Technology	24.1
Utilities	5.3

Russell 3000 Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
Common Stocks
Consumer Discretionary
*	Amazon.com Inc.	19,357	36,464	2.7%
	Home Depot Inc.	51,566	11,233	0.8%
	Walt Disney Co.	81,676	9,609	0.7%
	Comcast Corp.	210,673	8,518	0.6%
*	Netflix Inc.	19,713	7,275	0.6%
	Walmart Inc.	65,773	7,082	0.5%
	McDonald’s Corp.	35,297	6,854	0.5%
	Costco Wholesale Corp.	20,555	5,779	0.4%
	Consumer Discretionary—Other †		105,458	7.7%
			198,272	14.5%
Consumer Staples
	Procter & Gamble Co.	115,741	13,105	1.0%
	Coca-Cola Co.	179,504	9,602	0.7%
	PepsiCo Inc.	65,604	8,662	0.6%
	Philip Morris International Inc.	72,661	5,949	0.4%
	Consumer Staples—Other †		41,178	3.0%
			78,496	5.7%
Energy
	Exxon Mobil Corp.	198,113	10,191	0.7%
	Chevron Corp.	89,187	8,325	0.6%
	Energy—Other †		26,991	2.0%
			45,507	3.3%
Financial Services
*	Berkshire Hathaway Inc. Class B	91,641	18,909	1.4%
	JPMorgan Chase & Co.	145,975	16,949	1.2%
	Visa Inc.	80,169	14,572	1.1%
	Mastercard Inc.	41,485	12,041	0.9%
	Bank of America Corp.	381,095	10,861	0.8%
	Wells Fargo & Co.	178,266	7,282	0.5%
	Citigroup Inc.	101,988	6,472	0.5%
*	PayPal Holdings Inc.	54,994	5,939	0.4%
	Financial Services—Other †		185,584	13.6%
			278,609	20.4%

Russell 3000 Index Fund
			Market	Percentage
			Value^•	of Net
		Shares	($000)	Assets
Health Care
	Johnson & Johnson	124,324	16,719	1.2%
	UnitedHealth Group Inc.	44,237	11,279	0.8%
	Merck & Co. Inc.	119,244	9,129	0.7%
	Pfizer Inc.	260,475	8,705	0.6%
	Bristol-Myers Squibb Co.	109,468	6,465	0.5%
	Medtronic plc	62,855	6,328	0.5%
	Abbott Laboratories	80,648	6,212	0.5%
	AbbVie Inc.	69,224	5,933	0.4%
	Amgen Inc.	28,073	5,607	0.4%
	Thermo Fisher Scientific Inc.	18,658	5,426	0.4%
§	Health Care—Other †		103,227	7.5%
			185,030	13.5%

Materials & Processing †			43,199	3.2%

^§,1Other †			37	0.0%

Producer Durables
	Boeing Co.	24,786	6,819	0.5%
	Honeywell International Inc.	33,621	5,452	0.4%
	Accenture plc Class A	29,800	5,382	0.4%
	Union Pacific Corp.	32,532	5,199	0.4%
	Producer Durables—Other †		108,190	7.9%
			131,042	9.6%
Technology
	Microsoft Corp.	353,966	57,346	4.2%
	Apple Inc.	208,053	56,873	4.1%
*	Facebook Inc.	111,839	21,526	1.6%
*	Alphabet Inc. Class C	14,036	18,799	1.4%
*	Alphabet Inc. Class A	14,007	18,759	1.4%
	Intel Corp.	203,807	11,315	0.8%
	Cisco Systems Inc.	200,515	8,007	0.6%
*	Adobe Inc.	22,772	7,859	0.6%
	NVIDIA Corp.	27,309	7,375	0.5%
*	salesforce.com Inc.	38,840	6,618	0.5%
	International Business Machines Corp.	41,559	5,409	0.4%
	Technology—Other †		106,739	7.8%
			326,625	23.9%
Utilities
	AT&T Inc.	341,583	12,031	0.9%
	Verizon Communications Inc.	193,755	10,494	0.7%
	NextEra Energy Inc.	22,859	5,778	0.4%
	Utilities—Other †		43,422	3.2%
			71,725	5.2%
Total Common Stocks (Cost $1,100,278)			1,358,542	99.3%

Russell 3000 Index Fund
			Market	Percentage
			Value^•	of Net
	Coupon	Shares	($000)	Assets
Temporary Cash Investments
Money Market Fund
^2,3 Vanguard Market Liquidity Fund	1.706%	72,313	7,234	0.5%

⁴U.S. Government and Agency Obligations †			399	0.1%
Total Temporary Cash Investments (Cost $7,632)			7,633	0.6%
⁵Total Investments (Cost $1,107,910)			1,366,175	99.9%
^3,4Other Assets and Liabilities—Net			1,214	0.1%
Net Assets			1,367,389	100.0%
Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

Non-income-producing security.

Certain of the fund’s securities are valued using significant unobservable inputs.

†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

“Other” represents securities that are not classified by the fund’s benchmark index.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $619,000 was received for securities on loan.

Securities with a value of $399,000 and cash of $10,000 have been segregated as initial margin for open futures contracts.

The total value of securities on loan is $563,000.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
				($000)
					Value and
		Number of			Unrealized
		Long (Short)	Notional		Appreciation
	Expiration	Contracts	Amount	(Depreciation)
Long Futures Contracts
E-mini S&P 500 Index	March 2020	57	8,411	(720)
E-mini Russell 2000 Index	March 2020	7	516	(63)
					(783)

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 3000 Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $1,100,677)	1,358,941
Affiliated Issuers (Cost $7,233)	7,234
Total Investments in Securities	1,366,175
Investment in Vanguard	66
Cash	17
Cash Collateral Pledged—Futures Contracts	10
Receivables for Investment Securities Sold	7
Receivables for Accrued Income	2,484
Receivables for Capital Shares Issued	5,049
Total Assets	1,373,808
Liabilities
Payables for Investment Securities Purchased	5,413
Collateral for Securities on Loan	619
Payables for Capital Shares Redeemed	178
Payables to Vanguard	189
Variation Margin Payable—Futures Contracts	20
Total Liabilities	6,419
Net Assets	1,367,389
At February 29, 2020, net assets consisted of:

Paid-in Capital	1,107,518
Total Distributable Earnings (Loss)	259,871
Net Assets	1,367,389

ETF Shares—Net Assets
Applicable to 3,675,000 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	493,750
Net Asset Value Per Share—ETF Shares	$134.35

Institutional Shares—Net Assets
Applicable to 3,359,673 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	873,639
Net Asset Value Per Share—Institutional Shares	$260.04

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 3000 Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Dividends	13,162
Interest¹	42
Securities Lending—Net	69
Total Income	13,273
Expenses
The Vanguard Group—Note B
Investment Advisory Services	109
Management and Administrative—ETF Shares	173
Management and Administrative—Institutional Shares	269
Marketing and Distribution—ETF Shares	16
Marketing and Distribution—Institutional Shares	16
Custodian Fees	40
Shareholders’ Reports—ETF Shares	4
Shareholders’ Reports—Institutional Shares	—
Total Expenses	627
Net Investment Income	12,646
Realized Net Gain (Loss)
Investment Securities Sold^1,2	25,536
Futures Contracts	525
Realized Net Gain (Loss)	26,061
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹	(12,649)
Futures Contracts	(787)
Change in Unrealized Appreciation (Depreciation)	(13,436)
Net Increase (Decrease) in Net Assets Resulting from Operations	25,271

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $39,000, $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $26,569,000 of net gains resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 3000 Index Fund

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	12,646	23,173
Realized Net Gain (Loss)	26,061	51,327
Change in Unrealized Appreciation (Depreciation)	(13,436)	(58,570)
Net Increase (Decrease) in Net Assets Resulting from Operations	25,271	15,930
Distributions¹
ETF Shares	(4,441)	(7,478)
Institutional Shares	(8,643)	(15,510)
Total Distributions	(13,084)	(22,988)
Capital Share Transactions
ETF Shares	31,976	48,811
Institutional Shares	(10,344)	1,031
Net Increase (Decrease) from Capital Share Transactions	21,632	49,842
Total Increase (Decrease)	33,819	42,784
Net Assets
Beginning of Period	1,333,570	1,290,786
End of Period	1,367,389	1,333,570

1 Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 3000 Index Fund

Financial Highlights

ETF Shares

	Six Months
		Ended				Year Ended August 31,
For a Share Outstanding	February 29,					Year Ended August 31,
Throughout Each Period		2020		2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period		$133.26	$133.98		$113.52	$99.77	$91.43	$92.82
Investment Operations
Net Investment Income		1.227¹	2.312¹		2.099¹	1.980¹	1.850	1.649
Net Realized and Unrealized Gain (Loss)
on Investments		1.170	(.730)		20.442	13.722	8.248	(1.396)
Total from Investment Operations		2.397	1.582		22.541	15.702	10.098	.253
Distributions
Dividends from Net Investment Income		(1.307)	(2.302)		(2.081)	(1.952)	(1.758)	(1.643)
Distributions from Realized Capital Gains		—		—	—	—	—	—
Total Distributions		(1.307)	(2.302)		(2.081)	(1.952)	(1.758)	(1.643)
Net Asset Value, End of Period		$134.35	$133.26		$133.98	$113.52	$99.77	$91.43
Total Return		1.76%	1.25%		20.07%	15.92%	11.20%	0.21%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$494	$463		$412	$343	$282	$169
Ratio of Total Expenses to
Average Net Assets		0.10%	0.10%		0.15%	0.15%	0.15%	0.15%
Ratio of Net Investment Income to
Average Net Assets		1.73%	1.79%		1.70%	1.85%	1.98%	1.76%
Portfolio Turnover Rate²		5%	10%		14%	16%	8%	4%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 3000 Index Fund

Financial Highlights

Institutional Shares

	Six Months
		Ended				Year Ended August 31,
For a Share Outstanding	February 29,					Year Ended August 31,
Throughout Each Period		2020		2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period		$257.87	$259.33		$219.72	$193.10	$176.98	$179.64
Investment Operations
Net Investment Income		2.417¹	4.499¹		4.220¹	3.952¹	3.689	3.318
Net Realized and Unrealized Gain (Loss)
on Investments		2.267	(1.394)		39.578	26.583	15.965	(2.689)
Total from Investment Operations		4.684	3.105		43.798	30.535	19.654	.629
Distributions
Dividends from Net Investment Income		(2.514)	(4.565)		(4.188)	(3.915)	(3.534)	(3.289)
Distributions from Realized Capital Gains		—		—	—	—	—	—
Total Distributions		(2.514)	(4.565)		(4.188)	(3.915)	(3.534)	(3.289)
Net Asset Value, End of Period		$260.04	$257.87		$259.33	$219.72	$193.10	$176.98
Total Return		1.78%	1.27%		20.15%	16.00%	11.28%	0.30%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$874	$871		$879	$755	$847	$788
Ratio of Total Expenses to
Average Net Assets		0.08%	0.08%		0.08%	0.08%	0.08%	0.08%
Ratio of Net Investment Income to
Average Net Assets		1.76%	1.81%		1.77%	1.92%	2.05%	1.83%
Portfolio Turnover Rate²		5%	10%		14%	16%	8%	4%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Russell 3000 Index Fund

Notes to Financial Statements

Vanguard Russell 3000 Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

2. 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Russell 3000 Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $66,000, representing less than 0.01% of the fund’s net assets and 0.03% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

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.).

Russell 3000 Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1	Level 2	Level 3	Total
	($000)	($000)	($000)	($000)
Investments
Assets
Common Stocks	1,358,536	—	6	1,358,542
Temporary Cash Investments	7,234	399	—	7,633
Total	1,365,770	399	6	1,366,175
Derivative Financial Instruments
Liabilities
Futures Contracts¹	20	—	—	20

1 Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost	1,107,928
Gross Unrealized Appreciation	371,336
Gross Unrealized Depreciation	(113,872)
Net Unrealized Appreciation (Depreciation)	257,464

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $28,070,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended February 29, 2020, the fund purchased $150,377,000 of investment securities and sold $132,759,000 of investment securities, other than temporary cash investments. Purchases and sales include $55,691,000 and $60,666,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

Russell 3000 Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended			Year Ended
	February 29, 2020		August 31, 2019
	Amount	Shares	Amount	Shares
	($000)	(000)	($000)	(000)
ETF Shares
Issued	93,696	625	109,413	875
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(61,720)	(425)	(60,602)	(475)
Net Increase (Decrease)—ETF Shares	31,976	200	48,811	400
Institutional Shares
Issued	80,379	302	196,124	780
Issued in Lieu of Cash Distributions	8,282	31	15,108	61
Redeemed	(99,005)	(349)	(210,201)	(854)
Net Increase (Decrease)—Institutional Shares	(10,344)	(16)	1,031	(13)

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

The Product is not sponsored, endorsed, sold or promoted by Frank Russell Company (“Russell”). Russell makes no representation or warranty, express or implied, to the owners of the Product or any member of the public regarding the advisability of investing in securities generally or in the Product particularly or the ability of the Russell 3000 Index to track general stock market performance or a segment of the same. Russell’s publication of the Russell 3000 Index in no way suggests or implies an opinion by Russell as to the advisability of investment in any or all of the securities upon which the Russell 3000 Index is based. Russell’s only relationship to The Vanguard Group, Inc. is the licensing of certain trademarks and trade names of Russell and of the Russell 3000 Index which is determined, composed and calculated by Russell without regard to The Vanguard Group, Inc. or the Product. Russell is not responsible for and has not reviewed the Product nor any associated literature or publications and Russell makes no representation or warranty express or implied as to their accuracy or completeness, or otherwise. Russell has no obligation or liability in connection with the administration, marketing or trading of the Product.

Russell makes no representation, warranty or guarantee as to the accuracy, completeness, reliability or otherwise of the Russell Indexes or any data included in the Russell Indexes. Russell does not guarantee the accuracy and/or the completeness of the Russell 3000 Index or any data included therein and Russell shall have no liability for any errors, omissions, or interruptions therein. Russell makes no warranty, express or implied, as to the use of or results to be obtained by The Vanguard Group, Inc., investors, owners of the Product, or any other person or entity from the use of the Russell 3000 Index or any data included therein. Russell makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Russell 3000 Index or any data included therein. Without limiting any of the foregoing, in no event shall Russell have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

Connect with Vanguard^® > vanguard.com

Fund Information > 800-662-7447

Direct Investor Account Services > 800-662-2739

Institutional Investor Services > 800-523-1036

Text Telephone for People

Who Are Deaf or Hard of Hearing > 800-749-7273

This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

U.S. Patent Nos. 6,879,964; 7,337,138;

7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636.
Vanguard Marketing Corporation, Distributor.

Q18542 042020





Semiannual Report \| February 29, 2020


Vanguard Sector Bond Index Funds












Vanguard Short-Term Treasury Index Fund Vanguard Intermediate-Term Treasury Index Fund Vanguard Long-Term Treasury Index Fund Vanguard Short-Term Corporate Bond Index Fund Vanguard Intermediate-Term Corporate Bond Index Fund Vanguard Long-Term Corporate Bond Index Fund Vanguard Mortgage-Backed Securities Index Fund













See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Contents

	About Your Fund’s Expenses	1

	Short-Term Treasury Index Fund	4

	Intermediate-Term Treasury Index Fund	18

	Long-Term Treasury Index Fund	32

	Short-Term Corporate Bond Index Fund	45

	Intermediate-Term Corporate Bond Index Fund	62

	Long-Term Corporate Bond Index Fund	79

	Mortgage-Backed Securities Index Fund	97

About Your Fund’s Expenses

The accompanying table illustrates your fund’s costs in two ways:

● Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

Six Months Ended February 29, 2020

	Beginning	Ending	Expenses
	Account Value	Account Value	Paid During
	8/31/2019	2/29/2020	Period
Based on Actual Fund Return
Short-Term Treasury Index Fund
ETF Shares	$1,000.00	$1,018.12	$0.25
Admiral™ Shares	1,000.00	1,018.23	0.35
Institutional Shares	1,000.00	1,017.89	0.25
Intermediate-Term Treasury Index Fund
ETF Shares	$1,000.00	$1,031.35	$0.25
Admiral Shares	1,000.00	1,031.36	0.35
Institutional Shares	1,000.00	1,031.33	0.25
Long-Term Treasury Index Fund
ETF Shares	$1,000.00	$1,065.71	$0.26
Admiral Shares	1,000.00	1,065.55	0.36
Institutional Shares	1,000.00	1,065.68	0.26
Short-Term Corporate Bond Index Fund
ETF Shares	$1,000.00	$1,025.35	$0.25
Admiral Shares	1,000.00	1,024.84	0.35
Institutional Shares	1,000.00	1,025.18	0.25
Intermediate-Term Corporate Bond Index Fund
ETF Shares	$1,000.00	$1,040.28	$0.25
Admiral Shares	1,000.00	1,040.42	0.36
Institutional Shares	1,000.00	1,040.47	0.25
Long-Term Corporate Bond Index Fund
ETF Shares	$1,000.00	$1,057.58	$0.26
Admiral Shares	1,000.00	1,057.29	0.36
Institutional Shares	1,000.00	1,057.61	0.26
Mortgage-Backed Securities Index Fund
ETF Shares	$1,000.00	$1,024.65	$0.25
Admiral Shares	1,000.00	1,024.57	0.35
Institutional Shares	1,000.00	1,024.59	0.25

Six Months Ended February 29, 2020

	Beginning	Ending	Expenses
	Account Value	Account Value	Paid During
	8/31/2019	2/29/2020	Period
Based on Hypothetical 5% Yearly Return
Short-Term Treasury Index Fund
ETF Shares	$1,000.00	$1,024.61	$0.25
Admiral Shares	1,000.00	1,024.52	0.35
Institutional Shares	1,000.00	1,024.61	0.25
Intermediate-Term Treasury Index Fund
ETF Shares	$1,000.00	$1,024.61	$0.25
Admiral Shares	1,000.00	1,024.52	0.35
Institutional Shares	1,000.00	1,024.61	0.25
Long-Term Treasury Index Fund
ETF Shares	$1,000.00	$1,024.61	$0.25
Admiral Shares	1,000.00	1,024.52	0.35
Institutional Shares	1,000.00	1,024.61	0.25
Short-Term Corporate Bond Index Fund
ETF Shares	$1,000.00	$1,024.61	$0.25
Admiral Shares	1,000.00	1,024.52	0.35
Institutional Shares	1,000.00	1,024.61	0.25
Intermediate-Term Corporate Bond Index Fund
ETF Shares	$1,000.00	$1,024.61	$0.25
Admiral Shares	1,000.00	1,024.52	0.35
Institutional Shares	1,000.00	1,024.61	0.25
Long-Term Corporate Bond Index Fund
ETF Shares	$1,000.00	$1,024.61	$0.25
Admiral Shares	1,000.00	1,024.52	0.35
Institutional Shares	1,000.00	1,024.61	0.25
Mortgage-Backed Securities Index Fund
ETF Shares	$1,000.00	$1,024.61	$0.25
Admiral Shares	1,000.00	1,024.52	0.35
Institutional Shares	1,000.00	1,024.61	0.25

The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that period are: for the Short-Term Treasury Index Fund, 0.05% for ETF Shares, 0.07% for Admiral Shares, and 0.05% for Institutional Shares; for the Intermediate-Term Treasury Index Fund, 0.05% for ETF Shares, 0.07% for Admiral Shares, and 0.05% for Institutional Shares; for the Long-Term Treasury Index Fund, 0.05% for ETF Shares, 0.07% for Admiral Shares, and 0.05% for Institutional Shares; for the Short-Term Corporate Bond Index Fund, 0.05% for ETF Shares, 0.07% for Admiral Shares, and 0.05% for Institutional Shares; for the Intermediate-Term Corporate Bond Index Fund, 0.05% for ETF Shares, 0.07% for Admiral Shares, and 0.05% for Institutional Shares; for the Long-Term Corporate Bond Index Fund, 0.05% for ETF Shares, 0.07% for Admiral Shares, and 0.05% for Institutional Shares; and for the Mortgage-Backed Securities Index Fund, 0.05% for ETF Shares, 0.07% for Admiral Shares, and 0.05% for Institutional Shares. The dollar amounts shown as ”Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/366).

Short-Term Treasury Index Fund

Fund Allocation

As of February 29, 2020

U.S. Treasury

100.0%

The table reflects the fund’s investments, except for short-term investments and derivatives. The agency and mortgage-backed securities sectors may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.

The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking their target index as closely as possible.

Short-Term Treasury Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of February 29, 2020

			Face	Market
		Maturity	Amount	Value^•
	Coupon	Date	($000)	($000)
U.S. Government and Agency Obligations (99.6%)
U.S. Government Securities (99.6%)
United States Treasury Note/Bond	1.875%	12/15/20	3	3
United States Treasury Note/Bond	1.750%	12/31/20	1	1
United States Treasury Note/Bond	2.000%	1/15/21	3	3
United States Treasury Note/Bond	1.375%	1/31/21	1	1
United States Treasury Note/Bond	2.125%	1/31/21	1	1
United States Treasury Note/Bond	2.250%	2/15/21	1	1
United States Treasury Note/Bond	3.625%	2/15/21	1	1
United States Treasury Note/Bond	1.125%	2/28/21	34,531	34,547
United States Treasury Note/Bond	2.000%	2/28/21	7	7
United States Treasury Note/Bond	2.375%	3/15/21	85,873	87,027
United States Treasury Note/Bond	1.250%	3/31/21	176,572	176,930
United States Treasury Note/Bond	2.250%	3/31/21	220,265	223,054
United States Treasury Note/Bond	2.375%	4/15/21	100,127	101,598
United States Treasury Note/Bond	1.375%	4/30/21	212,311	213,073
United States Treasury Note/Bond	2.250%	4/30/21	145,620	147,646
United States Treasury Note/Bond	2.625%	5/15/21	124,800	127,155
United States Treasury Note/Bond	3.125%	5/15/21	39,192	40,160
United States Treasury Note/Bond	1.375%	5/31/21	37,303	37,466
United States Treasury Note/Bond	2.000%	5/31/21	29,251	29,599
United States Treasury Note/Bond	2.125%	5/31/21	70,000	70,941
United States Treasury Note/Bond	2.625%	6/15/21	192,985	196,903
United States Treasury Note/Bond	1.125%	6/30/21	21,172	21,202
United States Treasury Note/Bond	1.625%	6/30/21	35,000	35,279
United States Treasury Note/Bond	2.125%	6/30/21	177,921	180,496
United States Treasury Note/Bond	2.625%	7/15/21	57,060	58,317
United States Treasury Note/Bond	1.125%	7/31/21	184,920	185,238
United States Treasury Note/Bond	1.750%	7/31/21	36,000	36,382
United States Treasury Note/Bond	2.250%	7/31/21	63,288	64,406
United States Treasury Note/Bond	2.125%	8/15/21	115,434	117,346
United States Treasury Note/Bond	2.750%	8/15/21	75,000	76,910
United States Treasury Note/Bond	1.125%	8/31/21	127,038	127,296
United States Treasury Note/Bond	1.500%	8/31/21	86,000	86,659
United States Treasury Note/Bond	2.000%	8/31/21	61,394	62,325
United States Treasury Note/Bond	2.750%	9/15/21	82,896	85,124
United States Treasury Note/Bond	1.125%	9/30/21	82,589	82,782
United States Treasury Note/Bond	1.500%	9/30/21	36,817	37,122
United States Treasury Note/Bond	2.125%	9/30/21	47,600	48,463
United States Treasury Note/Bond	2.875%	10/15/21	109,645	113,002
United States Treasury Note/Bond	1.250%	10/31/21	203,525	204,491
United States Treasury Note/Bond	1.500%	10/31/21	45,274	45,677

Short-Term Treasury Index Fund


			Face	Market
		Maturity	Amount	Value^•
	Coupon	Date	($000)	($000)
United States Treasury Note/Bond	2.000%	10/31/21	152,815	155,417
United States Treasury Note/Bond	2.000%	11/15/21	26,363	26,828
United States Treasury Note/Bond	2.875%	11/15/21	188,210	194,297
United States Treasury Note/Bond	8.000%	11/15/21	21,340	23,861
United States Treasury Note/Bond	1.500%	11/30/21	77,000	77,746
United States Treasury Note/Bond	1.750%	11/30/21	28,142	28,538
United States Treasury Note/Bond	1.875%	11/30/21	91,165	92,646
United States Treasury Note/Bond	2.625%	12/15/21	226,375	233,114
United States Treasury Note/Bond	2.000%	12/31/21	70,455	71,809
United States Treasury Note/Bond	2.125%	12/31/21	95,165	97,202
United States Treasury Note/Bond	2.500%	1/15/22	88,430	90,987
United States Treasury Note/Bond	1.375%	1/31/22	75,865	76,541
United States Treasury Note/Bond	1.500%	1/31/22	75,000	75,821
United States Treasury Note/Bond	1.875%	1/31/22	70,032	71,290
United States Treasury Note/Bond	2.000%	2/15/22	31,394	32,051
United States Treasury Note/Bond	2.500%	2/15/22	107,770	111,054
United States Treasury Note/Bond	1.125%	2/28/22	389,465	391,292
United States Treasury Note/Bond	1.750%	2/28/22	63	64
United States Treasury Note/Bond	1.875%	2/28/22	8,419	8,562
United States Treasury Note/Bond	2.375%	3/15/22	55	57
United States Treasury Note/Bond	1.750%	3/31/22	110,837	112,738
United States Treasury Note/Bond	1.875%	3/31/22	146,073	148,971
United States Treasury Note/Bond	2.250%	4/15/22	79,740	81,982
United States Treasury Note/Bond	1.750%	4/30/22	43,467	44,248
United States Treasury Note/Bond	1.875%	4/30/22	156,603	159,832
United States Treasury Note/Bond	1.750%	5/15/22	74,205	75,596
United States Treasury Note/Bond	2.125%	5/15/22	160,035	164,285
United States Treasury Note/Bond	1.750%	5/31/22	216,936	221,038
United States Treasury Note/Bond	1.875%	5/31/22	17,075	17,443
United States Treasury Note/Bond	1.750%	6/15/22	166,730	169,986
United States Treasury Note/Bond	1.750%	6/30/22	57,684	58,820
United States Treasury Note/Bond	2.125%	6/30/22	38,359	39,450
United States Treasury Note/Bond	1.750%	7/15/22	102,920	104,978
United States Treasury Note/Bond	1.875%	7/31/22	190,280	194,740
United States Treasury Note/Bond	2.000%	7/31/22	121,880	125,099
United States Treasury Note/Bond	1.500%	8/15/22	233,220	236,718
United States Treasury Note/Bond	1.625%	8/15/22	53,772	54,738
United States Treasury Note/Bond	7.250%	8/15/22	9,525	10,987
United States Treasury Note/Bond	1.625%	8/31/22	83,710	85,226
United States Treasury Note/Bond	1.875%	8/31/22	54,582	55,913
United States Treasury Note/Bond	1.500%	9/15/22	83,389	84,679
United States Treasury Note/Bond	1.750%	9/30/22	61,750	63,110
United States Treasury Note/Bond	1.875%	9/30/22	87,452	89,665
United States Treasury Note/Bond	1.375%	10/15/22	126,343	127,943
United States Treasury Note/Bond	1.875%	10/31/22	75,024	76,958
United States Treasury Note/Bond	2.000%	10/31/22	57,966	59,651
United States Treasury Note/Bond	1.625%	11/15/22	219,200	223,516
United States Treasury Note/Bond	2.000%	11/30/22	157,895	162,632
United States Treasury Note/Bond	1.625%	12/15/22	202,785	206,902
United States Treasury Note/Bond	2.125%	12/31/22	75,640	78,252
United States Treasury Note/Bond	1.500%	1/15/23	128,770	131,003
United States Treasury Note/Bond	1.750%	1/31/23	77,905	79,840
United States Treasury Note/Bond	2.375%	1/31/23	34,680	36,159
United States Treasury Note/Bond	1.375%	2/15/23	226,635	229,894

Short-Term Treasury Index Fund


			Face	Market
		Maturity	Amount	Value^•
	Coupon	Date	($000)	($000)
United States Treasury Note/Bond	2.000%	2/15/23	101,240	104,543
United States Treasury Note/Bond	1.500%	2/28/23	86,885	88,459
United States Treasury Note/Bond	2.625%	2/28/23	56,500	59,396
Total U.S. Government and Agency Obligations (Cost $8,931,979)				9,079,201

			Shares
Temporary Cash Investment (0.1%)
Money Market Fund (0.1%)
¹ Vanguard Market Liquidity Fund
(Cost $11,154)	1.706%		111,505	11,154
Total Investments (99.7%) (Cost $8,943,133)				9,090,355
Other Assets and Liabilities—Net (0.3%)				28,329
Net Assets (100%)				9,118,684

Cost rounded to $000.

● See Note A in Notes to Financial Statements.

1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Treasury Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $8,931,979)		9,079,201
Affiliated Issuers (Cost $11,154)		11,154
Total Investments in Securities		9,090,355
Investment in Vanguard		389
Cash		2,158
Receivables for Investment Securities Sold		818,378
Receivables for Accrued Income		45,389
Receivables for Capital Shares Issued		14,527
Total Assets		9,971,196
Liabilities
Payables for Investment Securities Purchased		833,461
Payables for Capital Shares Redeemed		17,812
Payables for Distributions		857
Payables to Vanguard		382
Total Liabilities		852,512
Net Assets		9,118,684

At February 29, 2020, net assets consisted of:

Paid-in Capital			8,951,286
Total Distributable Earnings (Loss)			167,398
Net Assets			9,118,684

ETF Shares—Net Assets
Applicable to 102,084,932 outstanding $.001 par value shares of beneficial interest (unlimited authorization)			6,285,088
Net Asset Value Per Share—ETF Shares			$61.57

Admiral Shares—Net Assets
Applicable to 86,196,628 outstanding $.001 par value shares of beneficial interest (unlimited authorization)			1,767,655
Net Asset Value Per Share—Admiral Shares			$20.51

Institutional Shares—Net Assets
Applicable to 41,374,411 outstanding $.001 par value shares of beneficial interest (unlimited authorization)			1,065,941
Net Asset Value Per Share—Institutional Shares			$25.76

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Treasury Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
		($000	)
Investment Income
Income
Interest¹		89,587
Total Income		89,587
Expenses
The Vanguard Group—Note B
Investment Advisory Services		141
Management and Administrative—ETF Shares		1,102
Management and Administrative—Admiral Shares		487
Management and Administrative—Institutional Shares		179
Marketing and Distribution—ETF Shares		192
Marketing and Distribution—Admiral Shares		63
Marketing and Distribution—Institutional Shares		23
Custodian Fees		7
Shareholders’ Reports—ETF Shares		47
Shareholders’ Reports—Admiral Shares		4
Shareholders’ Reports—Institutional Shares		34
Trustees’ Fees and Expenses		2
Total Expenses		2,281
Expenses Paid Indirectly		(7	)
Net Expenses		2,274
Net Investment Income		87,313
Realized Net Gain (Loss) on Investment Securities Sold^1,2		33,731
Change in Unrealized Appreciation (Depreciation) of Investment Securities¹		38,871
Net Increase (Decrease) in Net Assets Resulting from Operations		159,915

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $179,000, ($22,000), and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $9,850,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Treasury Index Fund

Statement of Changes in Net Assets

	Six Months Ended			Year Ended
	February 29,			August 31,
	2020			2019
		($000	)		($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		87,313			163,089
Realized Net Gain (Loss)		33,731			6,115
Change in Unrealized Appreciation (Depreciation)		38,871			142,644
Net Increase (Decrease) in Net Assets Resulting from Operations		159,915			311,848
Distributions¹
ETF Shares		(60,448	)		(107,243	)
Admiral Shares		(17,165	)		(31,993	)
Institutional Shares		(10,438	)		(18,801	)
Total Distributions		(88,051	)		(158,037	)
Capital Share Transactions
ETF Shares		901,717			2,148,726
Admiral Shares		157,767			637,339
Institutional Shares		83,466			447,152
Net Increase (Decrease) from Capital Share Transactions		1,142,950			3,233,217
Total Increase (Decrease)		1,214,814			3,387,028
Net Assets
Beginning of Period		7,903,870			4,516,842
End of Period		9,118,684			7,903,870

1 Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Treasury Index Fund

Financial Highlights

ETF Shares


	Six Months
	Ended
For a Share Outstanding	February 29,												Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period		$61.12			$59.89			$60.86			$61.14			$61.03			$60.95
Investment Operations
Net Investment Income		.6291			1.430¹			.965¹			.614¹			.478			.351
Net Realized and Unrealized Gain (Loss)
on Investments		.468			1.165			(1.062	)		(.311	)		.118			.102
Total from Investment Operations		1.097			2.595			(.097	)		.303			.596			.453
Distributions
Dividends from Net Investment Income		(.647	)		(1.365	)		(.873	)		(.573	)		(.462	)		(.340	)
Distributions from Realized Capital Gains		—			—			—			(.010	)		(.024	)		(.033	)
Total Distributions		(.647	)		(1.365	)		(.873	)		(.583	)		(.486	)		(.373	)
Net Asset Value, End of Period		$61.57			$61.12			$59.89			$60.86			$61.14			$61.03

Total Return		1.81	%		4.39	%		-0.15	%		0.50	%		0.98	%		0.75	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$6,285			$5,334			$3,080			$1,832			$908			$635
Ratio of Total Expenses to Average Net Assets		0.05	%		0.05	%		0.07	%		0.07	%		0.07	%		0.10	%
Ratio of Net Investment Income to Average Net Assets		2.08	%		2.37	%		1.61	%		1.01	%		0.80	%		0.59	%
Portfolio Turnover Rate²		32	%		55	%		67	%		60	%		73	%		64	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Treasury Index Fund

Financial Highlights

Admiral Shares

	Six Months
	Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period		$20.35			$19.95			$20.29			$20.38			$20.35			$20.33
Investment Operations
Net Investment Income		.208¹			.472¹			.324¹			.202¹			.158			.116
Net Realized and Unrealized Gain (Loss) on Investments		.160			.384			(.358	)		(.096	)		.040			.031
Total from Investment Operations		.368			.856			(.034	)		.106			.198			.147
Distributions
Dividends from Net Investment Income		(.208	)		(.456	)		(.306	)		(.193	)		(.160	)		(.116	)
Distributions from Realized Capital Gains		—			—			—			(.003	)		(.008	)		(.011	)
Total Distributions		(.208	)		(.456	)		(.306	)		(.196	)		(.168	)		(.127	)
Net Asset Value, End of Period		$20.51			$20.35			$19.95			$20.29			$20.38			$20.35

Total Return²		1.82	%		4.34	%		-0.16	%		0.53	%		0.98	%		0.72	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$1,768			$1,596			$929			$507			$364			$221
Ratio of Total Expenses to
Average Net Assets		0.07	%		0.07	%		0.07	%		0.07	%		0.07	%		0.10	%
Ratio of Net Investment Income to
Average Net Assets		2.06	%		2.35	%		1.61	%		1.01	%		0.80	%		0.59	%
Portfolio Turnover Rate³		32	%		55	%		67	%		60	%		73	%		64	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Treasury Index Fund

Financial Highlights

Institutional Shares

	Six Months
	Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period		$25.57			$25.06			$25.49			$25.60			$25.57			$25.54
Investment Operations
Net Investment Income		.264¹			.598¹			.425¹			.260¹			.207			.156
Net Realized and Unrealized Gain (Loss) on Investments		.190			.490			(.467	)		(.117	)		.042			.043
Total from Investment Operations		.454			1.088			(.042	)		.143			.249			.199
Distributions
Dividends from Net Investment Income		(.264	)		(.578	)		(.388	)		(.249	)		(.209	)		(.155	)
Distributions from Realized Capital Gains		—			—			—			(.004	)		(.010	)		(.014	)
Total Distributions		(.264	)		(.578	)		(.388	)		(.253	)		(.219	)		(.169	)
Net Asset Value, End of Period		$25.76			$25.57			$25.06			$25.49			$25.60			$25.57

Total Return		1.79	%		4.40	%		-0.16	%		0.56	%		0.98	%		0.78	%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$1,066			$974			$508			$208			$92			$67
Ratio of Total Expenses to Average Net Assets		0.05	%		0.05	%		0.05	%		0.05	%		0.05	%		0.07	%
Ratio of Net Investment Income to Average Net Assets		2.08	%		2.37	%		1.63	%		1.03	%		0.82	%		0.62	%
Portfolio Turnover Rate²		32	%		55	%		67	%		60	%		73	%		64	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Treasury Index Fund

Notes to Financial Statements

Vanguard Short-Term Treasury Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

1. 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. Bonds and 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. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. 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 board of trustees to represent fair value.

2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (August 31, 2016–2019), and for the period ended February 29, 2020, and has concluded that no provision for federal income tax is required in the fund’s financial statements.

3. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

4. Credit Facility and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

Short-Term Treasury Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

5. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $389,000, representing less than 0.01% of the fund’s net assets and 0.16% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended February 29, 2020, custodian fee offset arrangements reduced the fund’s expenses by $7,000 (an annual rate of less than 0.01% of average net assets).

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.

Short-Term Treasury Index Fund

The following table summarizes the market value of the fund’s investments as of February 29, 2020, based on the inputs used to value them:

	Level 1			Level 2			Level 3			Total
		($000	)		($000	)		($000	)		($000	)
Investments
Assets
U.S. Government and Agency Obligations		—			9,079,201			—			9,079,201
Temporary Cash Investments		11,154			—			—			11,154
Total		11,154			9,079,201			—			9,090,355

E. As of February 29, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000	)
Tax Cost		8,943,133
Gross Unrealized Appreciation		147,394
Gross Unrealized Depreciation		(172	)
Net Unrealized Appreciation (Depreciation)		147,222

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $23,001,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 29, 2020, the fund purchased $4,488,565,000 of investment securities and sold $3,354,792,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,568,219,000 and $679,993,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 29, 2020, such purchases and sales were $985,855,000 and $0, respectively; these amounts are included in the purchases and sales of investment securities noted above.

Short-Term Treasury Index Fund

G. Capital share transactions for each class of shares were:

	Six Months Ended									Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
		($000	)		(000	)		($000	)		(000	)
ETF Shares
Issued		1,590,911			26,110			4,617,915			76,876
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(689,194	)		(11,300	)		(2,469,189	)		(41,025	)
Net Increase (Decrease)—ETF Shares		901,717			14,810			2,148,726			35,851
Admiral Shares
Issued		468,654			23,061			1,331,656			66,414
Issued in Lieu of Cash Distributions		13,117			645			23,999			1,193
Redeemed		(324,004	)		(15,943	)		(718,316	)		(35,725	)
Net Increase (Decrease)—Admiral Shares		157,767			7,763			637,339			31,882
Institutional Shares
Issued		260,251			10,211			756,162			30,031
Issued in Lieu of Cash Distributions		9,312			365			16,091			637
Redeemed		(186,097	)		(7,288	)		(325,101	)		(12,864	)
Net Increase (Decrease)—Institutional Shares		83,466			3,288			447,152			17,804

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Intermediate-Term Treasury Index Fund

Fund Allocation

As of February 29, 2020

U.S. Treasury

100.0%

Intermediate-Term Treasury Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of February 29, 2020

			Face	Market
		Maturity	Amount	Value^•
	Coupon	Date	($000)	($000)
U.S. Government and Agency Obligations (99.5%)
U.S. Government Securities (99.5%)
United States Treasury Note/Bond	8.125%	5/15/21	220	239
United States Treasury Note/Bond	8.125%	8/15/21	245	270
United States Treasury Note/Bond	7.625%	11/15/22	2,075	2,447
United States Treasury Note/Bond	2.000%	11/30/22	7,454	7,678
United States Treasury Note/Bond	2.125%	12/31/22	3	4
United States Treasury Note/Bond	1.750%	1/31/23	161	165
United States Treasury Note/Bond	2.000%	2/15/23	3	3
United States Treasury Note/Bond	7.125%	2/15/23	6,628	7,831
United States Treasury Note/Bond	1.500%	2/28/23	44,017	44,815
United States Treasury Note/Bond	1.500%	3/31/23	66,845	68,098
United States Treasury Note/Bond	2.500%	3/31/23	26,705	28,011
United States Treasury Note/Bond	1.625%	4/30/23	45,230	46,262
United States Treasury Note/Bond	2.750%	4/30/23	25,400	26,868
United States Treasury Note/Bond	1.750%	5/15/23	84,815	87,108
United States Treasury Note/Bond	1.625%	5/31/23	36,775	37,631
United States Treasury Note/Bond	2.750%	5/31/23	71,015	75,221
United States Treasury Note/Bond	1.375%	6/30/23	154,810	157,253
United States Treasury Note/Bond	2.625%	6/30/23	25,960	27,432
United States Treasury Note/Bond	1.250%	7/31/23	27,357	27,682
United States Treasury Note/Bond	2.750%	7/31/23	61,172	64,967
United States Treasury Note/Bond	2.500%	8/15/23	50,545	53,301
United States Treasury Note/Bond	6.250%	8/15/23	10,525	12,433
United States Treasury Note/Bond	1.375%	8/31/23	36,915	37,521
United States Treasury Note/Bond	2.750%	8/31/23	58,314	62,013
United States Treasury Note/Bond	1.375%	9/30/23	93,125	94,697
United States Treasury Note/Bond	2.875%	9/30/23	45,870	49,052
United States Treasury Note/Bond	1.625%	10/31/23	50,095	51,402
United States Treasury Note/Bond	2.875%	10/31/23	106,180	113,695
United States Treasury Note/Bond	2.750%	11/15/23	80,805	86,234
United States Treasury Note/Bond	2.125%	11/30/23	72,565	75,819
United States Treasury Note/Bond	2.875%	11/30/23	61,100	65,520
United States Treasury Note/Bond	2.250%	12/31/23	23,724	24,925
United States Treasury Note/Bond	2.625%	12/31/23	67,905	72,277
United States Treasury Note/Bond	2.250%	1/31/24	77,773	81,771
United States Treasury Note/Bond	2.500%	1/31/24	62,700	66,521
United States Treasury Note/Bond	2.750%	2/15/24	166,240	178,111
United States Treasury Note/Bond	2.125%	2/29/24	38,999	40,851
United States Treasury Note/Bond	2.375%	2/29/24	57,100	60,366
United States Treasury Note/Bond	2.125%	3/31/24	167,688	175,811
United States Treasury Note/Bond	2.000%	4/30/24	28,015	29,249

Intermediate-Term Treasury Index Fund
			Face	Market
		Maturity	Amount	Value^•
	Coupon	Date	($000)	($000)
United States Treasury Note/Bond	2.250%	4/30/24	68,446	72,168
United States Treasury Note/Bond	2.500%	5/15/24	184,262	196,239
United States Treasury Note/Bond	2.000%	5/31/24	142,885	149,292
United States Treasury Note/Bond	1.750%	6/30/24	78,335	81,077
United States Treasury Note/Bond	2.000%	6/30/24	47,347	49,522
United States Treasury Note/Bond	1.750%	7/31/24	47,600	49,311
United States Treasury Note/Bond	2.125%	7/31/24	63,748	67,065
United States Treasury Note/Bond	2.375%	8/15/24	95,812	101,860
United States Treasury Note/Bond	1.250%	8/31/24	74,990	76,068
United States Treasury Note/Bond	1.875%	8/31/24	82,905	86,377
United States Treasury Note/Bond	1.500%	9/30/24	64,444	66,116
United States Treasury Note/Bond	2.125%	9/30/24	49,501	52,162
United States Treasury Note/Bond	1.500%	10/31/24	59,186	60,740
United States Treasury Note/Bond	2.250%	10/31/24	54,050	57,310
United States Treasury Note/Bond	2.250%	11/15/24	143,161	151,839
United States Treasury Note/Bond	7.500%	11/15/24	6,573	8,557
United States Treasury Note/Bond	1.500%	11/30/24	92,760	95,253
United States Treasury Note/Bond	2.125%	11/30/24	76,230	80,458
United States Treasury Note/Bond	1.750%	12/31/24	34,445	35,785
United States Treasury Note/Bond	2.250%	12/31/24	76,990	81,778
United States Treasury Note/Bond	1.375%	1/31/25	54,450	55,641
United States Treasury Note/Bond	2.500%	1/31/25	26,550	28,554
United States Treasury Note/Bond	2.000%	2/15/25	136,463	143,499
United States Treasury Note/Bond	7.625%	2/15/25	3,300	4,368
United States Treasury Note/Bond	1.125%	2/28/25	91,135	92,061
United States Treasury Note/Bond	2.750%	2/28/25	61,658	67,111
United States Treasury Note/Bond	2.625%	3/31/25	60,157	65,177
United States Treasury Note/Bond	2.875%	4/30/25	24,274	26,629
United States Treasury Note/Bond	2.125%	5/15/25	86,535	91,686
United States Treasury Note/Bond	2.875%	5/31/25	29,500	32,399
United States Treasury Note/Bond	2.750%	6/30/25	25,000	27,328
United States Treasury Note/Bond	2.875%	7/31/25	142,885	157,285
United States Treasury Note/Bond	2.000%	8/15/25	91,425	96,425
United States Treasury Note/Bond	6.875%	8/15/25	14,398	18,933
United States Treasury Note/Bond	2.750%	8/31/25	63,320	69,355
United States Treasury Note/Bond	3.000%	9/30/25	34,900	38,739
United States Treasury Note/Bond	3.000%	10/31/25	36,000	39,994
United States Treasury Note/Bond	2.250%	11/15/25	147,850	158,200
United States Treasury Note/Bond	2.875%	11/30/25	48,150	53,228
United States Treasury Note/Bond	2.625%	12/31/25	54,145	59,153
United States Treasury Note/Bond	2.625%	1/31/26	61,800	67,584
United States Treasury Note/Bond	1.625%	2/15/26	221,945	229,922
United States Treasury Note/Bond	6.000%	2/15/26	10,295	13,292
United States Treasury Note/Bond	2.500%	2/28/26	50,125	54,495
United States Treasury Note/Bond	2.250%	3/31/26	43,135	46,303
United States Treasury Note/Bond	2.375%	4/30/26	53,950	58,342
United States Treasury Note/Bond	1.625%	5/15/26	139,215	144,305
United States Treasury Note/Bond	2.125%	5/31/26	50,318	53,699
United States Treasury Note/Bond	1.875%	6/30/26	66,300	69,781
United States Treasury Note/Bond	1.875%	7/31/26	56,465	59,447
United States Treasury Note/Bond	1.500%	8/15/26	157,592	162,197
United States Treasury Note/Bond	6.750%	8/15/26	5,954	8,097
United States Treasury Note/Bond	1.375%	8/31/26	54,783	55,964
United States Treasury Note/Bond	1.625%	9/30/26	65,149	67,592

Intermediate-Term Treasury Index Fund
			Face	Market
		Maturity	Amount	Value^•
	Coupon	Date	($000)	($000)
United States Treasury Note/Bond	1.625%	10/31/26	53,535	55,559
United States Treasury Note/Bond	2.000%	11/15/26	120,055	127,484
United States Treasury Note/Bond	6.500%	11/15/26	8,000	10,850
United States Treasury Note/Bond	1.625%	11/30/26	69,290	71,921
United States Treasury Note/Bond	1.750%	12/31/26	12,615	13,202
United States Treasury Note/Bond	1.500%	1/31/27	57,490	59,215
United States Treasury Note/Bond	2.250%	2/15/27	136,470	147,494
United States Treasury Note/Bond	6.625%	2/15/27	3,015	4,154
United States Treasury Note/Bond	2.375%	5/15/27	117,615	128,421
United States Treasury Note/Bond	2.250%	8/15/27	119,470	129,681
United States Treasury Note/Bond	6.375%	8/15/27	3,000	4,152
United States Treasury Note/Bond	2.250%	11/15/27	129,605	140,945
United States Treasury Note/Bond	6.125%	11/15/27	11,800	16,255
United States Treasury Note/Bond	2.750%	2/15/28	103,665	116,914
United States Treasury Note/Bond	2.875%	5/15/28	110,957	126,525
United States Treasury Note/Bond	2.875%	8/15/28	119,588	136,760
United States Treasury Note/Bond	5.500%	8/15/28	98,812	134,060
United States Treasury Note/Bond	3.125%	11/15/28	130,698	152,590
United States Treasury Note/Bond	5.250%	11/15/28	15,100	20,307
United States Treasury Note/Bond	2.625%	2/15/29	136,745	154,309
United States Treasury Note/Bond	5.250%	2/15/29	37,562	50,832
United States Treasury Note/Bond	2.375%	5/15/29	143,994	159,698
United States Treasury Note/Bond	1.625%	8/15/29	164,878	172,143
United States Treasury Note/Bond	6.125%	8/15/29	8,000	11,595
United States Treasury Note/Bond	1.750%	11/15/29	139,335	147,129
Total U.S. Government and Agency Obligations (Cost $7,981,448)				8,469,511
Temporary Cash Investment (0.5%)
Money Market Fund (0.5%)
¹ Vanguard Market Liquidity Fund
(Cost $40,211)	1.706%		402,035	40,215
Total Investments (100.0%) (Cost $8,021,659)				8,509,726
Other Assets and Liabilities—Net (0.0%)				3,567
Net Assets (100%)				8,513,293

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Treasury Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $7,981,448)		8,469,511
Affiliated Issuers (Cost $40,211)		40,215
Total Investments in Securities		8,509,726
Investment in Vanguard		352
Cash		2,134
Receivables for Investment Securities Sold		212,079
Receivables for Accrued Income		38,898
Receivables for Capital Shares Issued		25,078
Total Assets		8,788,267
Liabilities
Payables for Investment Securities Purchased		261,138
Payables for Capital Shares Redeemed		12,591
Payables for Distributions		862
Payables to Vanguard		383
Total Liabilities		274,974
Net Assets		8,513,293
At February 29, 2020, net assets consisted of:

Paid-in Capital		8,012,620
Total Distributable Earnings (Loss)		500,673
Net Assets		8,513,293

ETF Shares—Net Assets
Applicable to 72,048,838 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		4,944,566
Net Asset Value Per Share—ETF Shares		$68.63

Admiral Shares—Net Assets
Applicable to 91,556,646 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		2,119,427
Net Asset Value Per Share—Admiral Shares		$23.15

Institutional Shares—Net Assets
Applicable to 50,450,132 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		1,449,300
Net Asset Value Per Share—Institutional Shares		$28.73

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Treasury Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
		($000	)
Investment Income
Income
Interest¹		83,007
Total Income		83,007
Expenses
The Vanguard Group—Note B
Investment Advisory Services		127
Management and Administrative—ETF Shares		793
Management and Administrative—Admiral Shares		568
Management and Administrative—Institutional Shares		266
Marketing and Distribution—ETF Shares		148
Marketing and Distribution—Admiral Shares		73
Marketing and Distribution—Institutional Shares		28
Custodian Fees		8
Shareholders’ Reports—ETF Shares		92
Shareholders’ Reports—Admiral Shares		6
Shareholders’ Reports—Institutional Shares		1
Trustees’ Fees and Expenses		2
Total Expenses		2,112
Expenses Paid Indirectly		(6	)
Net Expenses		2,106
Net Investment Income		80,901
Realized Net Gain (Loss) on Investment Securities Sold^1,2		26,965
Change in Unrealized Appreciation (Depreciation) of Investment Securities¹		149,377
Net Increase (Decrease) in Net Assets Resulting from Operations		257,243

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $127,000, ($1,000), and $4,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $11,237,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Treasury Index Fund

Statement of Changes in Net Assets

	Six Months Ended February 29, 2020			Year Ended August 31, 2019
		($000	)		($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		80,901			133,484
Realized Net Gain (Loss)		26,965			15,651
Change in Unrealized Appreciation (Depreciation)		149,377			432,052
Net Increase (Decrease) in Net Assets Resulting from Operations		257,243			581,187
Distributions¹
ETF Shares		(47,430	)		(80,241	)
Admiral Shares		(20,429	)		(34,323	)
Institutional Shares		(13,404	)		(15,996	)
Total Distributions		(81,263	)		(130,560	)
Capital Share Transactions
ETF Shares		491,950			1,395,386
Admiral Shares		188,919			667,745
Institutional Shares		234,413			735,266
Net Increase (Decrease) from Capital Share Transactions		915,282			2,798,397
Total Increase (Decrease)		1,091,262			3,249,024
Net Assets
Beginning of Period		7,422,031			4,173,007
End of Period		8,513,293			7,422,031

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Treasury Index Fund

Financial Highlights

ETF Shares


	Six Months
	Ended
For a Share Outstanding	February 29,		Year Ended August 31,
Throughout Each Period	2020		2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$67.26		$62.67		$65.29		$66.54		$64.80		$64.14
Investment Operations
Net Investment Income	.703	¹	1.515	¹	1.250	¹	1.043	¹	1.035		1.054
Net Realized and Unrealized Gain (Loss) on Investments	1.381		4.552		(2.691	)	(1.201	)	1.770		.649
Total from Investment Operations	2.084		6.067		(1.441	)	(.158	)	2.805		1.703
Distributions
Dividends from Net Investment Income	(.714	)	(1.477	)	(1.179	)	(1.011	)	(1.038	)	(1.043	)
Distributions from Realized Capital Gains	—		—		—		(.081	)	(.027	)	—
Total Distributions	(.714	)	(1.477	)	(1.179	)	(1.092	)	(1.065	)	(1.043	)
Net Asset Value, End of Period	$68.63		$67.26		$62.67		$65.29		$66.54		$64.80

Total Return	3.14%		9.84%		-2.21%		-0.21%		4.37%		2.67%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$4,945		$4,353		$2,680		$1,329		$908		$360
Ratio of Total Expenses to Average Net Assets	0.05%		0.05%		0.07%		0.07%		0.07%		0.10%
Ratio of Net Investment Income to Average Net Assets	2.13%		2.36%		1.97%		1.61%		1.61%		1.67%
Portfolio Turnover Rate²	12%		29%		31%		32%		37%		35%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Treasury Index Fund

Financial Highlights

Admiral Shares


	Six Months
	Ended
For a Share Outstanding	February 29,						Year Ended August 31,
Throughout Each Period	2020		2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$22.68		$21.13		$22.03		$22.45		$21.86		$21.64
Investment Operations
Net Investment Income	.235	¹	.507	¹	.418	¹	.351	¹	.349		.355
Net Realized and Unrealized Gain (Loss) on Investments	.469		1.540		(.911	)	(.400	)	.601		.220
Total from Investment Operations	.704		2.047		(.493	)	(.049	)	.950		.575
Distributions
Dividends from Net Investment Income	(.234	)	(.497	)	(.407	)	(.344	)	(.351	)	(.355	)
Distributions from Realized Capital Gains	—		—		—		(.027	)	(.009	)	—
Total Distributions	(.234	)	(.497	)	(.407	)	(.371	)	(.360	)	(.355	)
Net Asset Value, End of Period	$23.15		$22.68		$21.13		$22.03		$22.45		$21.86

Total Return²	3.14%		9.83%		-2.24%		-0.19%		4.38%		2.67%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$2,119		$1,887		$1,104		$874		$710		$358
Ratio of Total Expenses to Average Net Assets	0.07%		0.07%		0.07%		0.07%		0.07%		0.10%
Ratio of Net Investment Income to Average Net Assets	2.11%		2.34%		1.97%		1.61%		1.61%		1.67%
Portfolio Turnover Rate³	12%		29%		31%		32%		37%		35%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Treasury Index Fund

Financial Highlights

Institutional Shares


	Six Months
	Ended
For a Share Outstanding	February 29,						Year Ended August 31,
Throughout Each Period	2020		2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$28.15		$26.23		$27.33		$27.86		$27.12		$26.85
Investment Operations
Net Investment Income	.295	¹	.634	¹	.524	¹	.441	¹	.437		.447
Net Realized and Unrealized Gain (Loss) on Investments	.578		1.908		(1.114	)	(.507	)	.752		.271
Total from Investment Operations	.873		2.542		(.590	)	(.066	)	1.189		.718
Distributions
Dividends from Net Investment Income	(.293	)	(.622	)	(.510	)	(.430	)	(.438	)	(.448	)
Distributions from Realized Capital Gains	—		—		—		(.034	)	(.011	)	—
Total Distributions	(.293	)	(.622	)	(.510	)	(.464	)	(.449	)	(.448	)
Net Asset Value, End of Period	$28.73		$28.15		$26.23		$27.33		$27.86		$27.12

Total Return	3.13%		9.83%		-2.16%		-0.21%		4.42%		2.69%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$1,449		$1,183		$390		$336		$272		$208
Ratio of Total Expenses to Average Net Assets	0.05%		0.05%		0.05%		0.05%		0.05%		0.07%
Ratio of Net Investment Income to Average Net Assets	2.13%		2.36%		1.99%		1.63%		1.63%		1.70%
Portfolio Turnover Rate²	12%		29%		31%		32%		37%		35%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Treasury Index Fund

Notes to Financial Statements

Vanguard Intermediate-Term Treasury Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

Intermediate-Term Treasury Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $352,000, representing less than 0.01% of the fund’s net assets and 0.14% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended February 29, 2020, custodian fee offset arrangements reduced the fund’s expenses by $6,000 (an annual rate of less than 0.01% of average net assets).

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.).

Intermediate-Term Treasury Index Fund

The following table summarizes the market value of the fund’s investments as of February 29, 2020, based on the inputs used to value them:

	Level 1			Level 2			Level 3			Total
		($000	)		($000	)		($000	)		($000	)
Investments
Assets
U.S. Government and Agency Obligations		—			8,469,511			—			8,469,511
Temporary Cash Investments		40,215			—			—			40,215
Total		40,215			8,469,511			—			8,509,726

E. As of February 29, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000	)
Tax Cost		8,021,659
Gross Unrealized Appreciation		488,296
Gross Unrealized Depreciation		(229	)
Net Unrealized Appreciation (Depreciation)		488,067

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $22,038,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 29, 2020, the fund purchased $2,104,142,000 of investment securities and sold $1,177,935,000 of investment securities, other than temporary cash investments. Purchases and sales include $712,775,000 and $227,308,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 29, 2020, such purchases and sales were $0 and $847,114,000, respectively; these amounts are included in the purchases and sales of investment securities noted above.

Intermediate-Term Treasury Index Fund

G. Capital share transactions for each class of shares were:

	Six Months Ended						Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
		($000	)		(000	)		($000	)		(000	)
ETF Shares
Issued		721,958			10,816			1,981,634			31,125
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(230,008	)		(3,475	)		(586,248	)		(9,175	)
Net Increase (Decrease)—ETF Shares		491,950			7,341			1,395,386			21,950
Admiral Shares
Issued		458,372			20,345			1,148,062			53,224
Issued in Lieu of Cash Distributions		17,164			761			28,925			1,333
Redeemed		(286,617	)		(12,730	)		(509,242	)		(23,608	)
Net Increase (Decrease)—Admiral Shares		188,919			8,376			667,745			30,949
Institutional Shares
Issued		303,241			10,901			849,876			31,471
Issued in Lieu of Cash Distributions		11,271			402			14,002			519
Redeemed		(80,099	)		(2,873	)		(128,612	)		(4,827	)
Net Increase (Decrease)—Institutional Shares		234,413			8,430			735,266			27,163

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Long-Term Treasury Index Fund

Fund Allocation

As of February 29, 2020


U.S. Treasury			100.0	%

Long-Term Treasury Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of February 29, 2020

				Face		Market
			Maturity	Amount		Value^•
		Coupon	Date	($000	)	($000	)
U.S. Government and Agency Obligations (99.6%)
U.S. Government Securities (99.6%)
	United States Treasury Note/Bond	6.250%	5/15/30	17,545		26,181
	United States Treasury Note/Bond	5.375%	2/15/31	35,420		50,739
	United States Treasury Note/Bond	4.500%	2/15/36	39,752		57,901
	United States Treasury Note/Bond	4.750%	2/15/37	14,175		21,491
	United States Treasury Note/Bond	5.000%	5/15/37	12,031		18,769
	United States Treasury Note/Bond	4.375%	2/15/38	11,947		17,633
	United States Treasury Note/Bond	4.500%	5/15/38	14,390		21,572
	United States Treasury Note/Bond	3.500%	2/15/39	38,980		52,331
	United States Treasury Note/Bond	4.250%	5/15/39	22,267		32,754
	United States Treasury Note/Bond	4.500%	8/15/39	25,969		39,395
	United States Treasury Note/Bond	4.375%	11/15/39	47,314		70,830
	United States Treasury Note/Bond	4.625%	2/15/40	51,509		79,630
	United States Treasury Note/Bond	4.375%	5/15/40	42,825		64,398
	United States Treasury Note/Bond	3.875%	8/15/40	61,447		87,005
	United States Treasury Note/Bond	4.250%	11/15/40	40,169		59,645
	United States Treasury Note/Bond	4.750%	2/15/41	34,768		54,933
	United States Treasury Note/Bond	4.375%	5/15/41	29,643		44,849
	United States Treasury Note/Bond	3.750%	8/15/41	48,972		68,514
	United States Treasury Note/Bond	3.125%	11/15/41	32,699		42,013
	United States Treasury Note/Bond	3.125%	2/15/42	35,302		45,423
	United States Treasury Note/Bond	3.000%	5/15/42	32,168		40,623
	United States Treasury Note/Bond	2.750%	8/15/42	47,283		57,420
	United States Treasury Note/Bond	2.750%	11/15/42	68,802		83,562
	United States Treasury Note/Bond	3.125%	2/15/43	60,687		78,135
	United States Treasury Note/Bond	2.875%	5/15/43	120,098		148,885
	United States Treasury Note/Bond	3.625%	8/15/43	76,294		106,013
	United States Treasury Note/Bond	3.750%	11/15/43	104,051		147,394
	United States Treasury Note/Bond	3.625%	2/15/44	115,950		161,532
	United States Treasury Note/Bond	3.375%	5/15/44	112,338		150,989
	United States Treasury Note/Bond	3.125%	8/15/44	95,991		124,234
	United States Treasury Note/Bond	3.000%	11/15/44	101,948		129,474
	United States Treasury Note/Bond	2.500%	2/15/45	116,995		136,664
	United States Treasury Note/Bond	3.000%	5/15/45	110,159		140,280
	United States Treasury Note/Bond	2.875%	8/15/45	100,792		125,864
	United States Treasury Note/Bond	3.000%	11/15/45	88,423		112,933
	United States Treasury Note/Bond	2.500%	2/15/46	84,267		98,789
	United States Treasury Note/Bond	2.500%	5/15/46	83,902		98,519
	United States Treasury Note/Bond	2.250%	8/15/46	112,396		126,129
	United States Treasury Note/Bond	2.875%	11/15/46	104,464		131,624
	United States Treasury Note/Bond	3.000%	2/15/47	77,074		99,462

Long-Term Treasury Index Fund

				Face		`Market
			Maturity	Amount		Value^•
		Coupon	Date	($000	)	($000	)
	United States Treasury Note/Bond	3.000%	5/15/47	109,724		141,698
	United States Treasury Note/Bond	2.750%	8/15/47	77,270		95,609
	United States Treasury Note/Bond	2.750%	11/15/47	113,580		140,732
	United States Treasury Note/Bond	3.000%	2/15/48	85,967		111,515
	United States Treasury Note/Bond	3.125%	5/15/48	126,428		167,932
	United States Treasury Note/Bond	3.000%	8/15/48	96,992		126,347
	United States Treasury Note/Bond	3.375%	11/15/48	105,792		147,348
	United States Treasury Note/Bond	3.000%	2/15/49	119,554		156,391
	United States Treasury Note/Bond	2.875%	5/15/49	139,329		178,537
	United States Treasury Note/Bond	2.250%	8/15/49	143,345		162,943
	United States Treasury Note/Bond	2.375%	11/15/49	122,987		143,549
	United States Treasury Note/Bond	2.000%	2/15/50	44,010		47,531
Total U.S. Government and Agency Obligations (Cost $4,177,579)						4,874,663

			Shares
Temporary Cash Investment (0.6%)
Money Market Fund (0.6%)
¹	Vanguard Market Liquidity Fund (Cost $30,119)	1.706%	301,130	30,122
Total Investments (100.2%) (Cost $4,207,698)				4,904,785
Other Assets and Liabilities—Net (-0.2%)				(9,110	)
Net Assets (100%)				4,895,675

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Treasury Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $4,177,579)	4,874,663
Affiliated Issuers (Cost $30,119)	30,122
Total Investments in Securities	4,904,785
Investment in Vanguard	177
Receivables for Investment Securities Sold	15,430
Receivables for Accrued Income	20,395
Receivables for Capital Shares Issued	47,341
Total Assets	4,988,128
Liabilities
Due to Custodian	191
Payables for Investment Securities Purchased	63,742
Payables for Capital Shares Redeemed	27,971
Payables for Distributions	322
Payables to Vanguard	227
Total Liabilities	92,453
Net Assets	4,895,675

At February 29, 2020, net assets consisted of:

Paid-in Capital	4,218,678
Total Distributable Earnings (Loss)	676,997
Net Assets	4,895,675

ETF Shares—Net Assets
Applicable to 24,082,087 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	2,287,524
Net Asset Value Per Share—ETF Shares	$94.99

Admiral Shares—Net Assets
Applicable to 46,276,035 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	1,476,535
Net Asset Value Per Share—Admiral Shares	$31.91

Institutional Shares—Net Assets
Applicable to 27,941,570 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)	1,131,616
Net Asset Value Per Share—Institutional Shares	$40.50

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Treasury Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000	)
Investment Income
Income
Interest¹	43,250
Total Income	43,250
Expenses
The Vanguard Group—Note B
Investment Advisory Services	61
Management and Administrative—ETF Shares	209
Management and Administrative—Admiral Shares	328
Management and Administrative—Institutional Shares	219
Marketing and Distribution—ETF Shares	50
Marketing and Distribution—Admiral Shares	43
Marketing and Distribution—Institutional Shares	20
Custodian Fees	4
Shareholders’ Reports—ETF Shares	83
Shareholders’ Reports—Admiral Shares	5
Shareholders’ Reports—Institutional Shares	—
Trustees’ Fees and Expenses	1
Total Expenses	1,023
Expenses Paid Indirectly	(4	)
Net Expenses	1,019
Net Investment Income	42,231
Realized Net Gain (Loss)
Investment Securities Sold^1,2	14,626
Futures Contracts	3
Realized Net Gain (Loss)	14,629
Change in Unrealized Appreciation (Depreciation) of Investment Securities¹	257,362
Net Increase (Decrease) in Net Assets Resulting from Operations	314,222

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $53,000, ($2,000), and $3,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $15,470,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Treasury Index Fund

Statement of Changes in Net Assets

	Six Months Ended		Year Ended
	February 29,		August 31,
	2020		2019
	($000	)	($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	42,231		60,623
Realized Net Gain (Loss)	14,629		34,967
Change in Unrealized Appreciation (Depreciation)	257,362		508,164
Net Increase (Decrease) in Net Assets Resulting from Operations	314,222		603,754
Distributions¹
ETF Shares	(16,562	)	(24,057	)
Admiral Shares	(13,009	)	(18,802	)
Institutional Shares	(11,690	)	(16,872	)
Total Distributions	(41,261	)	(59,731	)
Capital Share Transactions
ETF Shares	872,808		384,210
Admiral Shares	340,655		327,159
Institutional Shares	20,871		445,695
Net Increase (Decrease) from Capital Share Transactions	1,234,334		1,157,064
Total Increase (Decrease)	1,507,295		1,701,087
Net Assets
Beginning of Period	3,388,380		1,687,293
End of Period	4,895,675		3,388,380

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Treasury Index Fund

Financial Highlights

ETF Shares

	Six Months
	Ended
For a Share Outstanding	February 29,	Year Ended August 31,
Throughout Each Period	2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period	$90.17	$74.33	$78.76	$85.64	$75.13	$73.93
Investment Operations
Net Investment Income	1.005¹	2.115¹	2.050¹	2.006¹	2.021	2.073
Net Realized and Unrealized Gain (Loss)
on Investments	4.821	15.798	(4.469)	(6.905)	10.511	1.206
Total from Investment Operations	5.826	17.913	(2.149)	(4.899)	12.532	3.279
Distributions
Dividends from Net Investment Income	(1.006)	(2.073)	(2.011)	(1.981)	(2.022)	(2.079)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(1.006)	(2.073)	(2.011)	(1.981)	(2.022)	(2.079)
Net Asset Value, End of Period	$94.99	$90.17	$74.33	$78.76	$85.64	$75.13

Total Return	6.57%	24.69%	-3.07%	-5.63%	16.96%	4.44%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$2,288	$1,282	$676	$549	$578	$252
Ratio of Total Expenses to
Average Net Assets	0.05%	0.05%	0.07%	0.07%	0.07%	0.10%
Ratio of Net Investment Income to
Average Net Assets	2.34%	2.75%	2.73%	2.62%	2.58%	2.76%
Portfolio Turnover Rate²	7%	16%	19%	19%	18%	24%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Treasury Index Fund

Financial Highlights

Admiral Shares

	Six Months
	Ended
For a Share Outstanding	February 29,	Year Ended August 31,
Throughout Each Period	2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period	$30.28	$24.95	$26.44	$28.75	$25.21	$24.81
Investment Operations
Net Investment Income	.335¹	.706¹	.690¹	.676¹	.679	.698
Net Realized and Unrealized Gain (Loss)
on Investments	1.621	5.316	(1.501)	(2.319)	3.540	.399
Total from Investment Operations	1.956	6.022	(.811)	(1.643)	4.219	1.097
Distributions
Dividends from Net Investment Income	(.326)	(.692)	(.679)	(.667)	(.679)	(.697)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.326)	(.692)	(.679)	(.667)	(.679)	(.697)
Net Asset Value, End of Period	$31.91	$30.28	$24.95	$26.44	$28.75	$25.21

Total Return²	6.56%	24.67%	-3.06%	-5.62%	16.97%	4.40%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$1,477	$1,053	$559	$468	$374	$130
Ratio of Total Expenses to
Average Net Assets	0.07%	0.07%	0.07%	0.07%	0.07%	0.10%
Ratio of Net Investment Income to
Average Net Assets	2.32%	2.73%	2.73%	2.62%	2.58%	2.76%
Portfolio Turnover Rate³	7%	16%	19%	19%	18%	24%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Treasury Index Fund

Financial Highlights

Institutional Shares

	Six Months
	Ended
For a Share Outstanding	February 29,	Year Ended August 31,
Throughout Each Period	2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period	$38.43	$31.66	$33.56	$36.49	$32.00	$31.48
Investment Operations
Net Investment Income	.430¹	.902¹	.883¹	.865¹	.868	.896
Net Realized and Unrealized Gain (Loss)
on Investments	2.058	6.753	(1.915)	(2.942)	4.492	.517
Total from Investment Operations	2.488	7.655	(1.032)	(2.077)	5.360	1.413
Distributions
Dividends from Net Investment Income	(.418)	(.885)	(.868)	(.853)	(.870)	(.893)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.418)	(.885)	(.868)	(.853)	(.870)	(.893)
Net Asset Value, End of Period	$40.50	$38.43	$31.66	$33.56	$36.49	$32.00

Total Return	6.57%	24.71%	-3.07%	-5.60%	16.99%	4.47%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$1,132	$1,054	$452	$213	$138	$154
Ratio of Total Expenses to
Average Net Assets	0.05%	0.05%	0.05%	0.05%	0.05%	0.07%
Ratio of Net Investment Income to
Average Net Assets	2.34%	2.75%	2.75%	2.64%	2.60%	2.79%
Portfolio Turnover Rate²	7%	16%	19%	19%	18%	24%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Treasury Index Fund

Notes to Financial Statements

Vanguard Long-Term Treasury Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

2. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds 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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.

Long-Term Treasury Index Fund

5. Credit Facility and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

6. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Long-Term Treasury Index Fund

operations (such as deferred compensation/benefits and risk/insurance costs); the fund’s liability for these costs of operations is included in Payables to Vanguard on the Statement of Assets and Liabilities. All other costs of operations payable to Vanguard are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $177,000, representing less than 0.01% of the fund’s net assets and 0.07% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended February 29, 2020, custodian fee offset arrangements reduced the fund’s expenses by $4,000 (an annual rate of less than 0.01% of average net assets).

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.).

The following table summarizes the market value of the fund’s investments as of February 29, 2020, based on the inputs used to value them:

	Level 1			Level 2			Level 3			Total
		($000	)		($000	)		($000	)		($000	)
Investments
Assets
U.S. Government and Agency Obligations		—			4,874,663			—			4,874,663
Temporary Cash Investments		30,122			—			—			30,122
Total		30,122			4,874,663			—			4,904,785

E. As of February 29, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000	)
Tax Cost		4,207,698
Gross Unrealized Appreciation		697,102
Gross Unrealized Depreciation		(15	)
Net Unrealized Appreciation (Depreciation)		697,087

Long-Term Treasury Index Fund

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $38,203,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 29, 2020, the fund purchased $1,619,413,000 of investment securities and sold $383,616,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,015,375,000 and $124,143,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

G. Capital share transactions for each class of shares were:

	Six Months Ended									Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
		($000	)		(000	)		($000	)		(000	)
ETF Shares
Issued		998,225			11,318			899,247			11,672
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(125,417	)		(1,450	)		(515,037	)		(6,550	)
Net Increase (Decrease)—ETF Shares		872,808			9,868			384,210			5,122
Admiral Shares
Issued		605,269			20,561			587,551			22,376
Issued in Lieu of Cash Distributions		11,063			375			15,716			605
Redeemed		(275,677	)		(9,442	)		(276,108	)		(10,623	)
Net Increase (Decrease)—Admiral Shares		340,655			11,494			327,159			12,358
Institutional Shares
Issued		134,533			3,586			576,383			17,077
Issued in Lieu of Cash Distributions		11,690			312			16,872			510
Redeemed		(125,352	)		(3,373	)		(147,560	)		(4,447	)
Net Increase (Decrease)—Institutional Shares		20,871			525			445,695			13,140

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Short-Term Corporate Bond Index Fund

Fund Allocation

As of February 29, 2020

Finance	42.3%

Industrial	52.8

Treasury/Agency	0.6

Utilities	4.3

Short-Term Corporate Bond Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

					Face		Market		Percentage
				Maturity	Amount		Value^•		of Net
		Coupon		Date	($000	)	($000	)	Assets
U.S. Government and Agency Obligations
U.S. Government Securities
	United States Treasury Note/Bond	1.375	%	1/31/22	94,600		95,443		0.3	%
	United States Treasury Note/Bond	1.375	%	2/15/23	50,875		51,607		0.2	%
	United States Treasury Note/Bond	1.125	%	2/28/25	48,425		48,917		0.1	%
Total U.S. Government and Agency Obligations (Cost $195,080)							195,967		0.6	%
Corporate Bonds
Finance
	Banking
	Bank of America Corp.	3.004	%	12/20/23	100,112		103,681		0.3	%
	Bank of America Corp.	3.300	%	1/11/23	62,862		65,973		0.2	%
1	Bank of America Corp.	3.550	%	3/5/24	60,949		64,265		0.2	%
	Bank of America Corp.	4.000	%	1/22/25	56,022		60,872		0.2	%
	Bank of America Corp.	4.125	%	1/22/24	47,657		51,802		0.2	%
1	Bank of America Corp.	2.015%–5.875	%	1/5/21–4/19/26	465,020		486,615		1.5	%
1	Bank of America NA	3.335	%	1/25/23	300		310		0.0	%
1	Citibank NA	2.844%–3.650	%	7/23/21–1/23/24	68,201		71,307		0.2	%
	Citigroup Inc.	2.900	%	12/8/21	50,737		51,803		0.2	%
	Citigroup Inc.	2.700	%	3/30/21	47,426		47,840		0.1	%
1	Citigroup Inc.	2.312%–4.500	%	8/2/21–4/24/25	353,200		367,789		1.2	%
	Cooperatieve Rabobank UA	3.875	%	2/8/22	54,503		57,056		0.2	%
	Deutsche Bank AG	4.250	%	10/14/21	45,922		47,379		0.1	%
	Goldman Sachs Group Inc.	5.750	%	1/24/22	67,408		72,742		0.2	%
	Goldman Sachs Group Inc.	5.250	%	7/27/21	56,607		59,430		0.2	%
	Goldman Sachs Group Inc.	3.500	%	1/23/25	54,205		57,753		0.2	%
1	Goldman Sachs Group Inc.	2.876	%	10/31/22	52,779		53,807		0.2	%
1	Goldman Sachs Group Inc.	2.905	%	7/24/23	50,088		51,553		0.2	%
1	Goldman Sachs Group Inc.	2.350%–4.000	%	12/27/20–9/29/25	302,992		316,239		1.0	%
1	HSBC Holdings plc	3.803	%	3/11/25	75,913		80,956		0.3	%

Short-Term Corporate Bond Index Fund
					Face		Market		Percentage
				Maturity	Amount		Value^•		of Net
		Coupon		Date	($000	)	($000	)	Assets
1	HSBC Holdings plc	2.633%–5.100	%	3/8/21–11/7/25	352,983		365,712		1.1	%
	HSBC USA Inc.	3.500	%	6/23/24	11,869		12,763		0.0	%
	JPMorgan Chase & Co.	2.295	%	8/15/21	50,393		50,512		0.2	%
	JPMorgan Chase & Co.	2.972	%	1/15/23	47,018		48,282		0.1	%
1	JPMorgan Chase & Co.	2.301%–4.625	%	3/1/21–12/15/26	691,840		725,370		2.3	%
	Mitsubishi UFJ Financial Group Inc.	3.761	%	7/26/23	44,977		48,061		0.1	%
	Mitsubishi UFJ Financial Group Inc.	2.190%–3.535	%	3/1/21–2/25/25	264,155		272,264		0.9	%
	Morgan Stanley	2.625	%	11/17/21	55,197		56,220		0.2	%
	Morgan Stanley	3.875	%	4/29/24	51,508		55,979		0.2	%
1	Morgan Stanley	3.737	%	4/24/24	50,863		53,918		0.2	%
	Morgan Stanley	2.500	%	4/21/21	48,119		48,597		0.1	%
1	Morgan Stanley	2.720%–5.750	%	1/25/21–7/23/25	279,777		296,154		0.9	%
	MUFG Americas Holdings Corp.	3.000%–3.500	%	6/18/22–2/10/25	15,216		16,036		0.1	%
	MUFG Union Bank NA	2.100%–3.150	%	4/1/22–12/9/22	31,765		32,663		0.1	%
	Royal Bank of Scotland Group plc	3.875	%	9/12/23	48,187		51,254		0.2	%
1	Truist Bank	2.150%–3.689	%	4/1/21–12/6/24	178,979		184,623		0.6	%
	Truist Financial Corp.	2.050%–3.950	%	3/3/21–10/26/24	136,407		140,789		0.4	%
	Wells Fargo & Co.	3.069	%	1/24/23	76,850		78,924		0.2	%
	Wells Fargo & Co.	2.625	%	7/22/22	69,589		71,293		0.2	%
	Wells Fargo & Co.	3.000	%	2/19/25	59,819		62,990		0.2	%
	Wells Fargo & Co.	3.300	%	9/9/24	51,688		54,810		0.2	%
1	Wells Fargo & Co.	2.100%–4.600	%	1/22/21–2/11/26	303,370		313,326		1.0	%
1	Wells Fargo Bank NA	2.082%–3.625	%	7/23/21–8/14/23	126,184		129,685		0.4	%
2	Banking—Other †						5,445,112		17.1	%
	Brokerage †						304,520		1.0	%
	Finance Companies †						422,609		1.3	%
	Insurance †						964,728		3.0	%
	Other Finance †						27,111		0.1	%
	Real Estate Investment Trusts †						839,441		2.7	%
							13,342,918		42.0	%
Industrial
	Basic Industry
	DuPont de Nemours Inc.	4.205	%	11/15/23	44,863		48,906		0.1	%
	Basic Industry—Other †						697,306		2.2	%
2,3	Capital Goods †						1,578,950		5.0	%
	Communication
	Comcast Corp.	3.700	%	4/15/24	45,392		49,136		0.2	%
	Verizon Communications Inc.	5.150	%	9/15/23	63,960		71,867		0.2	%
	Vodafone Group plc	3.750	%	1/16/24	45,224		48,528		0.1	%
2	Communication—Other †						1,457,253		4.6	%
	Consumer Cyclical
	Ford Motor Credit Co. LLC	2.343%–5.875	%	11/2/20–11/1/24	324,363		330,101		1.1	%
	General Motors Co.	4.875	%	10/2/23	28,866		31,259		0.1	%
	General Motors Financial Co. Inc.	2.900%–5.100	%	3/1/21–2/26/25	317,530		328,892		1.0	%
	ConsumerCyclical—Other †						1,885,842		5.9	%
	Consumer Noncyclical
2	AbbVie Inc.	2.600	%	11/21/24	57,305		59,175		0.2	%

Short-Term Corporate Bond Index Fund
					Face		Market		Percentage
				Maturity	Amount		Value^•		of Net
		Coupon		Date	($000	)	($000	)	Assets
	AbbVie Inc.	2.900	%	11/6/22	50,952		52,724		0.2	%
2	AbbVie Inc.	2.300	%	11/21/22	47,060		47,850		0.1	%
	BAT Capital Corp.	3.222	%	8/15/24	47,554		49,900		0.1	%
	CVS Health Corp.	3.700	%	3/9/23	90,862		95,930		0.3	%
	Shire Acquisitions Investments Ireland DAC	2.400	%	9/23/21	52,758		53,438		0.2	%
2	Consumer Noncyclical—Other †						3,919,027		12.3	%
	Energy
	Occidental Petroleum Corp.	2.900	%	8/15/24	47,688		48,323		0.1	%
2	Energy—Other †						2,340,943		7.4	%
	Other Industrial †						22,546		0.1	%
	Technology
	Apple Inc.	2.400	%	5/3/23	72,785		74,993		0.2	%
	Apple Inc.	3.450	%	5/6/24	45,433		49,196		0.1	%
	Apple Inc.	1.550%–3.000	%	2/23/21–2/9/25	345,427		356,166		1.1	%
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.625	%	1/15/24	50,008		52,377		0.2	%
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.000	%	1/15/22	50,813		51,804		0.2	%
2	Dell International LLC / EMC Corp.	4.420	%	6/15/21	65,900		68,082		0.2	%
2	Dell International LLC / EMC Corp.	5.450	%	6/15/23	54,568		60,026		0.2	%
	International Business Machines Corp.	3.000	%	5/15/24	55,150		58,387		0.2	%
	International Business Machines Corp.	2.850	%	5/13/22	48,625		50,120		0.2	%
	Oracle Corp.	1.900	%	9/15/21	60,866		61,349		0.2	%
2	Technology—Other †						2,016,745		6.3	%
	Transportation †						527,340		1.7	%
							16,644,481		52.3	%
Utilities
	Electric †						1,285,179		4.0	%
	Natural Gas †						82,175		0.3	%
	Other Utility †						3,782		0.0	%
							1,371,136		4.3	%
Total Corporate Bonds (Cost $30,463,290)							31,358,535		98.6	%

Short-Term Corporate Bond Index Fund

				Market	Percentage
				Value^•	of Net
		Coupon	Shares	($000)	Assets
Temporary Cash Investment
Money Market Fund
4	Vanguard Market Liquidity Fund
	(Cost $75)	1.706%	751	75	0.0%
Total Investments (Cost $30,658,445)				31,554,577	99.2%
Other Assets and Liabilities—Net				238,528	0.8%
Net Assets				31,793,105	100.0%

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

Certain of the fund’s securities are 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 February 29, 2020, the aggregate value of these securities was $765,773,000, representing 2.4% of net assets.

Securities with a value of $4,341,000 have been segregated as initial margin for open futures contracts.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

				($000)
				Value and
		Number of		Unrealized
		Long (Short)	Notional	Appreciation
	Expiration	Contracts	Amount	(Depreciation)
Long Futures Contracts
5-Year U.S. Treasury Note	June 2020	1,247	153,069	12

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Corporate Bond Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $30,658,370)	31,554,502
Affiliated Issuers (Cost $75)	75
Total Investments in Securities	31,554,577
Investment in Vanguard	1,356
Cash	8,943
Receivables for Investment Securities Sold	101,250
Receivables for Accrued Income	264,860
Receivables for Capital Shares Issued	26,363
Variation Margin Receivable—Futures Contracts	968
Total Assets	31,958,317
Liabilities
Payables for Investment Securities Purchased	117,377
Payables for Capital Shares Redeemed	37,307
Payables for Distributions	2,533
Payables to Vanguard	2,886
Variation Margin Payable—Futures Contracts	5,109
Total Liabilities	165,212
Net Assets	31,793,105

Short-Term Corporate Bond Index Fund

At February 29, 2020, net assets consisted of:

($000s, except shares and per-share amounts)	Amount
Paid-in Capital	30,815,028
Total Distributable Earnings (Loss)	978,077
Net Assets	31,793,105

ETF Shares—Net Assets
Applicable to 309,330,856 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	25,382,679
Net Asset Value Per Share—ETF Shares	$82.06

Admiral Shares—Net Assets
Applicable to 213,297,508 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	4,757,367
Net Asset Value Per Share—Admiral Shares	$22.30

Institutional Shares—Net Assets
Applicable to 60,542,885 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	1,653,059
Net Asset Value Per Share—Institutional Shares	$27.30

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Corporate Bond Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Interest¹	446,397
Total Income	446,397
Expenses
The Vanguard Group—Note B
Investment Advisory Services	517
Management and Administrative—ETF Shares	4,821
Management and Administrative—Admiral Shares	1,308
Management and Administrative—Institutional Shares	340
Marketing and Distribution—ETF Shares	791
Marketing and Distribution—Admiral Shares	167
Marketing and Distribution—Institutional Shares	33
Custodian Fees	34
Shareholders’ Reports—ETF Shares	240
Shareholders’ Reports—Admiral Shares	11
Shareholders’ Reports—Institutional Shares	—
Trustees’ Fees and Expenses	8
Total Expenses	8,270
Expenses Paid Indirectly	(34)
Net Expenses	8,236
Net Investment Income	438,161
Realized Net Gain (Loss)
Investment Securities Sold^1,2	136,253
Futures Contracts	(9,013)
Realized Net Gain (Loss)	127,240
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹	219,625
Futures Contracts	12
Change in Unrealized Appreciation (Depreciation)	219,637
Net Increase (Decrease) in Net Assets Resulting from Operations	785,038

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,372,000, $64,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $91,152,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Corporate Bond Index Fund

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	438,161	820,859
Realized Net Gain (Loss)	127,240	(41,485)
Change in Unrealized Appreciation (Depreciation)	219,637	1,081,348
Net Increase (Decrease) in Net Assets Resulting from Operations	785,038	1,860,722
Distributions¹
ETF Shares	(358,359)	(652,259)
Admiral Shares	(61,788)	(110,299)
Institutional Shares	(22,214)	(46,783)
Total Distributions	(442,361)	(809,341)
Capital Share Transactions
ETF Shares	573,272	2,170,231
Admiral Shares	392,980	640,603
Institutional Shares	2,140	(130,462)
Net Increase (Decrease) from Capital Share Transactions	968,392	2,680,372
Total Increase (Decrease)	1,311,069	3,731,753
Net Assets
Beginning of Period	30,482,036	26,750,283
End of Period	31,793,105	30,482,036

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Corporate Bond Index Fund

Financial Highlights

ETF Shares

	Six Months
		Ended				Year Ended August 31,
For a Share Outstanding	February 29,					Year Ended August 31,
Throughout Each Period		2020		2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period		$81.18	$78.32		$80.25	$80.52	$79.33	$80.21
Investment Operations
Net Investment Income		1.137¹	2.311¹		1.950¹	1.768¹	1.661	1.504
Net Realized and Unrealized Gain (Loss) on Investments		.899	2.826		(1.953)	(.317)	1.240	(.743)
Total from Investment Operations		2.036	5.137		(.003)	1.451	2.901	.761
Distributions
Dividends from Net Investment Income		(1.156)	(2.277)		(1.927)	(1.721)	(1.648)	(1.492)
Distributions from Realized Capital Gains		—		—	—	—	(.063)	(.149)
Total Distributions		(1.156)	(2.277)		(1.927)	(1.721)	(1.711)	(1.641)
Net Asset Value, End of Period		$82.06	$81.18		$78.32	$80.25	$80.52	$79.33

Total Return		2.54%	6.68%		0.01%	1.84%	3.71%	0.96%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$25,383	$24,537		$21,511	$20,862	$14,121	$10,377
Ratio of Total Expenses to Average Net Assets		0.05%	0.05%		0.07%	0.07%	0.07%	0.10%
Ratio of Net Investment Income to Average Net Assets		2.82%	2.92%		2.48%	2.21%	2.11%	1.90%
Portfolio Turnover Rate²		23%	51%		56%	66%	57%	62%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Corporate Bond Index Fund

Financial Highlights

Admiral Shares

	Six Months
		Ended			Year Ended August 31,
For a Share Outstanding	February 29,				Year Ended August 31,
Throughout Each Period		2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period		$22.06	$21.28	$21.81	$21.89	$21.57	$21.81
Investment Operations
Net Investment Income		.307¹	.625¹	.532¹	.481¹	.451	.409
Net Realized and Unrealized Gain (Loss) on Investments		.236	.777	(.531)	(.088)	.337	(.199)
Total from Investment Operations		.543	1.402	.001	.393	.788	.210
Distributions
Dividends from Net Investment Income		(.303)	(.622)	(.531)	(.473)	(.451)	(.410)
Distributions from Realized Capital Gains		—	—	—	—	(.017)	(0.40)
Total Distributions		(.303)	(.622)	(.655)	(.473)	(.468)	(.450)
Net Asset Value, End of Period		$22.30	$22.06	$21.28	$21.81	$21.89	$21.57

Total Return²		2.48%	6.70%	0.02%	1.83%	3.70%	0.97%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$4,757	$4,312	$3,533	$3,180	$1,959	$1,222
Ratio of Total Expenses to Average Net Assets		0.07%	0.07%	0.07%	0.07%	0.07%	0.10%
Ratio of Net Investment Income to Average Net Assets		2.80%	2.90%	2.48%	2.21%	2.11%	1.90%
Portfolio Turnover Rate³		23%	51%	56%	66%	57%	62%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Corporate Bond Index Fund

Financial Highlights

Institutional Shares

	Six Months
	Ended			Year Ended August 31,
For a Share Outstanding	February 29,			Year Ended August 31,
Throughout Each Period	2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period	$27.00	$26.06	$26.70	$26.80	$26.41	$26.71

Investment Operations

Net Investment Income	.379¹	.768¹	.656¹	.594¹	.558	.509
Net Realized and Unrealized Gain (Loss) on Investments	.295	.939	(.641)	(.111)	.413	(.249)
Total from Investment Operations	.674	1.707	.015	.483	.971	.260
Distributions
Dividends from Net Investment Income	(.374)	(.767)	(.655)	(.583)	(.560)	(.510)
Distributions from Realized Capital Gains	—	—	—	—	(.021)	(.050)
Total Distributions	(.374)	(.767)	(.655)	(.583)	(.581)	(.560)
Net Asset Value, End of Period	$27.30	$27.00	$26.06	$26.70	$26.80	$26.41

Total Return	2.52%	6.66%	0.07%	1.84%	3.72%	0.98%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$1,653	$1,633	$1,706	$1,515	$1,020	$745
Ratio of Total Expenses to Average Net Assets	0.05%	0.05%	0.05%	0.05%	0.05%	0.07%
Ratio of Net Investment Income to Average Net Assets	2.82%	2.92%	2.50%	2.23%	2.13%	1.93%
Portfolio Turnover Rate²	23%	51%	56%	66%	57%	62%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Short-Term Corporate Bond Index Fund

Notes to Financial Statements

Vanguard Short-Term Corporate Bond Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. Certain of the fund’s investments are in corporate debt instruments; the issuers’ abilities to meet their obligations may be affected by economic developments in their respective industries. The fund offers three classes of shares: ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

During the six months ended February 29, 2020, the fund’s average investments in long and short futures contracts each represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the period.

Short-Term Corporate Bond Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Short-Term Corporate Bond Index Fund

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $1,356,000, representing less than 0.01% of the fund’s net assets and 0.54% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended February 29, 2020, custodian fee offset arrangements reduced the fund’s expenses by $34,000 (an annual rate of less than 0.01% of average net assets).

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.).

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1	Level 2	Level 3	Total
	($000)	($000)	($000)	($000)
Investments
Assets
U.S. Government and Agency Obligations	—	195,967	—	195,967
Corporate Bonds	—	31,358,535	—	31,358,535
Temporary Cash Investments	75	—	—	75
Total Assets	75	31,554,502	—	31,554,577
Derivatives Financial Instruments
Assets
Futures Contracts¹	968	—	—	968
Liabilities
Futures Contracts²	5,109	—	—	5,109

Represents variation margin on the last day of the reporting period.

Represents variation margin on the last day of the reporting period for recently closed futures contracts.

Short-Term Corporate Bond Index Fund

E. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost	30,662,532
Gross Unrealized Appreciation	895,717
Gross Unrealized Depreciation	(3,660)
Net Unrealized Appreciation (Depreciation)	892,057

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $95,302,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carry-forward balance above.

F. During the six months ended February 29, 2020, the fund purchased $9,220,286,000 of investment securities and sold $8,013,215,000 of investment securities, other than U.S. government securities and temporary cash investments. Purchases and sales of U.S. government securities were $2,345,874,000 and $2,483,714,000, respectively. Total purchases and sales include $3,987,682,000 and $3,464,778,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 29, 2020, such purchases and sales were $2,690,030,000 and $52,129,000, respectively; these amounts are included in the purchases and sales of investment securities noted above.

Short-Term Corporate Bond Index Fund

G. Capital share transactions for each class of shares were:

	Six Months Ended			Year Ended
	February 29, 2020		August 31, 2019
	Amount	Shares	Amount	Shares
	($000)	(000)	($000)	(000)
ETF Shares
Issued	4,120,393	50,793	7,080,904	89,891
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(3,547,121)	(43,700)	(4,910,673)	(62,300)
Net Increase (Decrease)—ETF Shares	573,272	7,093	2,170,231	27,591
Admiral Shares
Issued	1,012,402	45,837	2,029,921	94,202
Issued in Lieu of Cash Distributions	49,434	2,238	89,673	4,161
Redeemed	(668,856)	(30,281)	(1,478,991)	(68,831)
Net Increase (Decrease)—Admiral Shares	392,980	17,794	640,603	29,532
Institutional Shares
Issued	214,019	7,924	306,982	11,638
Issued in Lieu of Cash Distributions	17,996	666	38,752	1,470
Redeemed	(229,875)	(8,513)	(476,196)	(18,126)
Net Increase (Decrease)—Institutional Shares	2,140	77	(130,462)	(5,018)

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Intermediate-Term Corporate Bond Index Fund

Fund Allocation

As of February 29, 2020

Finance	36.7	%
Industrial	57.6
Treasury/Agency	0.4
Utilities	5.3
The table reflects the fund’s investments, except for short-term investments and derivatives. The agency and mortgage-backed securities sectors may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.


The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempt-ing to remain fully invested and tracking their target index as closely as possible.

Intermediate-Term Corporate Bond Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

				Face	Market	Percentage
			Maturity	Amount	Value^•	of Net
		Coupon	Date	($000)	($000)	Assets
U.S. Government and Agency Obligations
U.S. Government Securities
*	United States Treasury
	Note/Bond (Cost $132,204)	1.500%	2/15/30	128,115	132,478	0.5%
Corporate Bonds
Finance
	Banking
1	Bank of America Corp.	3.419%	12/20/28	85,176	91,996	0.3%
1	Bank of America Corp.	4.271%	7/23/29	72,087	82,821	0.3%
1	Bank of America Corp.	3.970%	3/5/29	63,416	71,247	0.2%
1	Bank of America Corp.	2.496%–6.220%	1/22/24–2/13/31	602,664	658,031	2.1%
	Bank One Corp.	7.625%–8.000%	10/15/26–4/29/27	25,379	34,616	0.1%
1	Citigroup Inc.	3.980%	3/20/30	85,675	96,905	0.3%
	Citigroup Inc.	4.450%	9/29/27	57,980	65,532	0.2%
	Citigroup Inc.	3.200%	10/21/26	59,965	64,043	0.2%
1	Citigroup Inc.	3.887%	1/10/28	54,157	59,846	0.2%
1	Citigroup Inc.	2.666%–6.625%	3/26/25–1/29/31	429,313	472,402	1.5%
1	Goldman Sachs Group
	Inc.	3.814%	4/23/29	84,382	92,707	0.3%
	Goldman Sachs Group
	Inc.	3.850%	1/26/27	65,373	71,696	0.2%
1	Goldman Sachs Group
	Inc.	4.223%	5/1/29	53,104	60,195	0.2%
1	Goldman Sachs Group
	Inc.	3.500%–5.950%	5/22/25–6/5/28	205,310	225,548	0.7%
1	HSBC Holdings plc	3.900%–5.100%	4/5/21–5/22/30	351,372	386,491	1.2%
	JPMorgan Chase & Co.	4.005%	4/23/29	52,953	59,775	0.2%
1	JPMorgan Chase & Co.	2.739%–4.452%	9/10/24–10/15/30	612,273	672,930	2.1%
1	Morgan Stanley	3.591%	7/22/28	68,975	75,386	0.3%
	Morgan Stanley	4.000%	7/23/25	66,483	73,734	0.3%
1	Morgan Stanley	2.699%	1/22/31	61,230	62,894	0.2%
1	Morgan Stanley	3.125%–6.250%	4/29/24–1/23/30	372,774	416,862	1.3%

Intermediate-Term Corporate Bond Index Fund

				Face	Market	Percentage
			Maturity	Amount	Value^•	of Net
		Coupon	Date	($000)	($000)	Assets
	Wachovia Corp.	7.574%	8/1/26	3,024	3,949	0.0%
1	Wells Fargo & Co.	2.879%	10/30/30	96,425	100,505	0.3%
	Wells Fargo & Co.	3.000%	10/23/26	68,970	72,943	0.2%
	Wells Fargo & Co.	3.000%	4/22/26	69,075	72,766	0.2%
	Wells Fargo & Co.	4.100%	6/3/26	55,978	61,535	0.2%
1	Wells Fargo & Co.	2.572%–4.300%	9/29/25–2/11/31	231,729	251,276	0.8%
2	Banking—Other †				3,421,858	10.9%
	Brokerage †				461,469	1.5%
	Finance Companies †				264,125	0.8%
	Insurance
	Berkshire Hathaway Inc.	3.125%	3/15/26	58,594	63,421	0.2%
	Insurance—Other †				1,186,505	3.8%
	Other Finance †				7,738	0.0%
	Real Estate Investment Trusts †				1,596,599	5.0%
					11,460,346	36.3%
Industrial
2	Basic Industry †				910,230	2.9%
	Capital Goods
	United Technologies Corp.	4.125%	11/16/28	63,698	74,501	0.2%
2	Capital Goods—Other †				1,558,760	5.0%
	Communication
	AT&T Inc.	3.400%	5/15/25	75,468	80,428	0.3%
	AT&T Inc.	4.350%	3/1/29	53,535	61,010	0.2%
	AT&T Inc.	2.950%–4.300%	7/15/25–2/15/30	250,135	277,251	0.9%
	Charter Communications
	Operating LLC / Charter
	Communications
	Operating Capital	4.908%	7/23/25	63,430	71,051	0.2%
	Comcast Corp.	4.150%	10/15/28	61,592	71,405	0.2%
	Comcast Corp.	3.950%	10/15/25	58,579	65,583	0.2%
	Comcast Corp.	2.350%–3.550%	2/15/25–2/1/30	187,809	201,918	0.6%
	TCI Communications
	Inc.	7.125%–7.875%	2/15/26–2/15/28	11,176	14,978	0.1%
	Verizon Communications
	Inc.	4.329%	9/21/28	86,865	102,049	0.3%
	Verizon Communications
	Inc.	4.016%	12/3/29	73,833	85,883	0.3%
	Verizon Communications
	Inc.	4.125%	3/16/27	59,298	67,439	0.2%
2	Communication—Other †				1,114,561	3.5%
	Consumer Cyclical
	Amazon.com Inc.	3.150%	8/22/27	56,856	62,121	0.2%
	Visa Inc.	3.150%	12/14/25	65,139	70,724	0.2%
2	Consumer Cyclical—Other †				2,091,282	6.6%
	Consumer Noncyclical
2	AbbVie Inc.	3.200%	11/21/29	100,270	105,703	0.3%
2	AbbVie Inc.	2.950%	11/21/26	70,386	73,766	0.2%
	AbbVie Inc.	3.600%	5/14/25	60,671	65,779	0.2%
	AbbVie Inc.	3.200%–4.250%	5/14/26–11/14/28	65,126	71,033	0.2%
	Anheuser-Busch Cos.
	LLC / Anheuser-Busch
	InBev Worldwide Inc.	3.650%	2/1/26	72,946	79,610	0.3%

Intermediate-Term Corporate Bond Index Fund

				Face	Market	Percentage
			Maturity	Amount	Value^•	of Net
		Coupon	Date	($000)	($000)	Assets
	Anheuser-Busch InBev
	Worldwide Inc.	4.750%	1/23/29	78,384	92,677	0.3%
	Anheuser-Busch InBev
	Worldwide Inc.	4.000%	4/13/28	56,615	63,760	0.2%
2	Bristol-Myers Squibb Co.	3.400%	7/26/29	72,181	80,524	0.3%
	Cigna Corp.	4.375%	10/15/28	64,624	73,394	0.2%
	CVS Health Corp.	4.300%	3/25/28	152,934	170,999	0.6%
	CVS Health Corp.	4.100%	3/25/25	78,153	85,420	0.3%
	CVS Health Corp.	2.875%–6.250%	7/20/25–8/15/29	157,494	167,085	0.5%
2	Consumer
	Noncyclical—Other †				3,700,843	11.7%
2	Energy †				2,666,757	8.4%
	Other Industrial †				64,548	0.2%
	Technology
	Apple Inc.	2.050%–3.450%	5/6/24–9/11/29	367,430	394,012	1.3%
	Broadcom Corp. /
	Broadcom Cayman
	Finance Ltd.	3.875%	1/15/27	78,432	82,263	0.3%
2	Dell International LLC /
	EMC Corp.	6.020%	6/15/26	80,808	94,630	0.3%
	Fiserv Inc.	3.500%	7/1/29	56,887	62,048	0.2%
	Hewlett Packard
	Enterprise Co.	4.900%	10/15/25	56,785	64,655	0.2%
	International Business
	Machines Corp.	3.500%	5/15/29	62,661	70,365	0.2%
	International Business
	Machines Corp.	3.300%	5/15/26	62,020	67,403	0.2%
	Microsoft Corp.	3.300%	2/6/27	76,085	84,419	0.3%
	Microsoft Corp.	2.400%	8/8/26	73,888	77,647	0.2%
	Oracle Corp.	2.650%	7/15/26	58,723	61,939	0.2%
2	Technology—Other †				1,735,586	5.5%
	Transportation †				690,002	2.2%
					18,028,041	57.1%
Utilities
2	Electric †				1,464,434	4.6%
	Natural Gas †				141,511	0.5%
	Other Utility †				55,785	0.2%
					1,661,730	5.3%
Total Corporate Bonds (Cost $29,297,505)					31,150,117	98.7%

Intermediate-Term Corporate Bond Index Fund

				Market	Percentage
				Value^•	of Net
		Coupon	Shares	($000)	Assets
Temporary Cash Investment
Money Market Fund
3	Vanguard Market Liquidity Fund
	(Cost $322,418)	1.706%	3,223,262	322,423	1.0%

Total Investments (Cost $29,752,127)				31,605,018	100.2%
Other Assets and Liabilities—Net				(48,143)	(0.2%)
Net Assets				31,556,875	100.0%

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

Securities with a value of $1,511,000 have been segregated as initial margin for open futures contracts.

The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

				($000)
					Value and
		Number of			Unrealized
		Long (Short)	Notional		Appreciation
	Expiration	Contracts	Amount	(Depreciation)
Long Futures Contracts
5-Year U.S. Treasury Note	June 2020	440	54,010	528
Ultra 10-Year U.S. Treasury Note	June 2020	225	33,799	77
					605

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Corporate Bond Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $29,429,709)		31,282,595
Affiliated Issuers (Cost $322,418)		322,423
Total Investments in Securities		31,605,018
Investment in Vanguard		1,319
Receivables for Investment Securities Sold		908,104
Receivables for Accrued Income		295,188
Receivables for Capital Shares Issued		7,200
Variation Margin Receivable—Futures Contracts		271
Total Assets		32,817,100
Liabilities
Due to Custodian		1,405
Payables for Investment Securities Purchased		1,241,425
Payables for Capital Shares Redeemed		14,386
Payables for Distributions		1,055
Payables to Vanguard		1,954
Total Liabilities		1,260,225
Net Assets		31,556,875

Intermediate-Term Corporate Bond Index Fund

At February 29, 2020, net assets consisted of:

($000s, except shares and per-share amounts)	Amount
Paid-in Capital		29,397,428
Total Distributable Earnings (Loss)		2,159,447
Net Assets		31,556,875

ETF Shares—Net Assets
Applicable to 314,403,257 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)		29,544,102
Net Asset Value Per Share—ETF Shares	$	93.97

Admiral Shares—Net Assets
Applicable to 59,694,122 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)		1,510,731
Net Asset Value Per Share—Admiral Shares	$	25.31

Institutional Shares—Net Assets
Applicable to 16,054,574 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)		502,042
Net Asset Value Per Share—Institutional Shares	$	31.27

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Corporate Bond Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
		($000	)
Investment Income
Income
Interest¹		459,215
Total Income		459,215
Expenses
The Vanguard Group—Note B
Investment Advisory Services		464
Management and Administrative—ETF Shares		4,858
Management and Administrative—Admiral Shares		417
Management and Administrative—Institutional Shares		101
Marketing and Distribution—ETF Shares		868
Marketing and Distribution—Admiral Shares		53
Marketing and Distribution—Institutional Shares		11
Custodian Fees		43
Shareholders’ Reports—ETF Shares		321
Shareholders’ Reports—Admiral Shares		3
Shareholders’ Reports—Institutional Shares		—
Trustees’ Fees and Expenses		6
Total Expenses		7,145
Expenses Paid Indirectly		(42	)
Net Expenses		7,103
Net Investment Income		452,112
Realized Net Gain (Loss)
Investment Securities Sold^1,2		365,253
Futures Contracts		(5,695	)
Realized Net Gain (Loss)		359,558
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹		352,595
Futures Contracts		305
Change in Unrealized Appreciation (Depreciation)		352,900
Net Increase (Decrease) in Net Assets Resulting from Operations		1,164,570

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $879,000, $37,000, and $4,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $226,113,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Corporate Bond Index Fund

Statement of Changes in Net Assets

	Six Months Ended			Year Ended
	February 29,			August 31,
	2020			2019
		($000	)		($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		452,112			839,679
Realized Net Gain (Loss)		359,558			177,920
Change in Unrealized Appreciation (Depreciation)		352,900			2,046,310
Net Increase (Decrease) in Net Assets Resulting from Operations		1,164,570			3,063,909
Distributions¹
ETF Shares		(419,090	)		(771,952	)
Admiral Shares		(22,404	)		(41,575	)
Institutional Shares		(7,631	)		(14,888	)
Total Distributions		(449,125	)		(828,415	)
Capital Share Transactions
ETF Shares		4,795,871			2,686,065
Admiral Shares		94,200			197,830
Institutional Shares		84,686			(121,914	)
Net Increase (Decrease) from Capital Share Transactions		4,974,757			2,761,981
Total Increase (Decrease)		5,690,202			4,997,475
Net Assets
Beginning of Period		25,866,673			20,869,198
End of Period		31,556,875			25,866,673

1 Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Corporate Bond Index Fund

Financial Highlights

ETF Shares

	Six Months
	Ended
For a Share Outstanding	February 29,	Year Ended August 31,
Throughout Each Period	2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period	$91.82	$84.02	$88.35	$89.47	$84.39	$86.98
Investment Operations
Net Investment Income	1.481¹	3.132¹	2.935¹	2.869¹	2.831	2.767
Net Realized and Unrealized Gain (Loss) on Investments	2.164	7.768	(4.362)	(1.184)	5.083	(2.473)
Total from Investment Operations	3.645	10.900	(1.427)	1.685	7.914	.294
Distributions
Dividends from Net Investment Income	(1.495)	(3.100)	(2.903)	(2.805)	(2.834)	(2.754)
Distributions from Realized Capital Gains	—	—	—	—	—	(.130)
Total Distributions	(1.495)	(3.100)	(2.903)	(2.805)	(2.834)	(2.884)
Net Asset Value, End of Period	$93.97	$91.82	$84.02	$88.35	$89.47	$84.39
Total Return	4.03%	13.33%	-1.62%	1.98%	9.58%	0.32%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$29,544	$24,080	$19,302	$16,699	$10,048	$5,393
Ratio of Total Expenses to Average Net Assets	0.05%	0.05%	0.07%	0.07%	0.07%	0.10%
Ratio of Net Investment Income to Average Net Assets	3.26%	3.65%	3.44%	3.30%	3.34%	3.25%
Portfolio Turnover Rate²	28%	59%	65%	65%	71%	56%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Corporate Bond Index Fund

Financial Highlights

Admiral Shares

	Six Months
	Ended
For a Share Outstanding	February 29,	Year Ended August 31,
Throughout Each Period	2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period	$24.71	$22.61	$23.78	$24.08	$22.71	$23.40
Investment Operations
Net Investment Income	.397¹	.839¹	.792¹	.774¹	.764	.745
Net Realized and Unrealized Gain (Loss) on Investments	.590	2.097	(1.175)	(.318)	1.371	(.654)
Total from Investment Operations	.987	2.936	(.383)	.456	2.135	.091
Distributions
Dividends from Net Investment Income	(.387)	(.836)	(.787)	(.756)	(.765)	(.746)
Distributions from Realized Capital Gains	—	—	—	—	—	(.035)
Total Distributions	(.387)	(.836)	(.787)	(.756)	(.765)	(.781)
Net Asset Value, End of Period	$25.31	$24.71	$22.61	$23.78	$24.08	$22.71
Total Return²	4.04%	13.30%	-1.61%	1.99%	9.57%	0.37%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$1,511	$1,381	$1,076	$1,014	$700	$423
Ratio of Total Expenses to
Average Net Assets	0.07%	0.07%	0.07%	0.07%	0.07%	0.10%
Ratio of Net Investment Income to
Average Net Assets	3.24%	3.63%	3.44%	3.30%	3.34%	3.25%
Portfolio Turnover Rate³	28%	59%	65%	65%	71%	56%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction and account service fees.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Corporate Bond Index Fund

Financial Highlights

Institutional Shares

	Six Months
	Ended
For a Share Outstanding	February 29,	Year Ended August 31,
Throughout Each Period	2020	2019	2018	2017	2016	2015
Net Asset Value, Beginning of Period	$30.53	$27.94	$29.38	$29.75	$28.06	$28.92
Investment Operations
Net Investment Income	.494¹	1.044¹	.983¹	.962¹	.949	.931
Net Realized and Unrealized Gain (Loss) on Investments	.727	2.584	(1.446)	(.392)	1.690	(.816)
Total from Investment Operations	1.221	3.628	(.463)	.570	2.639	.115
Distributions
Dividends from Net Investment Income	(.481)	(1.038)	(.977)	(.940)	(.949)	(.932)
Distributions from Realized Capital Gains	—	—	—	—	—	(.043)
Total Distributions	(.481)	(1.038)	(.977)	(.940)	(.949)	(.975)
Net Asset Value, End of Period	$31.27	$30.53	$27.94	$29.38	$29.75	$28.06
Total Return²	4.05%	13.30%	-1.57%	2.01%	9.58%	0.37%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$502	$406	$492	$572	$387	$338
Ratio of Total Expenses to Average Net Assets	0.05%	0.05%	0.05%	0.05%	0.05%	0.07%
Ratio of Net Investment Income to Average Net Assets	3.26%	3.65%	3.46%	3.32%	3.36%	3.28%
Portfolio Turnover Rate³	28%	59%	65%	65%	71%	56%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Intermediate-Term Corporate Bond Index Fund

Notes to Financial Statements

Vanguard Intermediate-Term Corporate Bond Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. Certain of the fund’s investments are in corporate debt instruments; the issuers’ abilities to meet their obligations may be affected by economic developments in their respective industries. The fund offers three classes of shares: ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

Intermediate-Term Corporate Bond Index Fund

4.Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5.Credit Facility and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Intermediate-Term Corporate Bond Index Fund

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $1,319,000, representing less than 0.01% of the fund’s net assets and 0.53% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended February 29, 2020, custodian fee offset arrangements reduced the fund’s expenses by $42,000 (an annual rate of less than 0.01% of average net assets).

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.).

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1		Level 2		Level 3		Total
	($000	)	($000	)	($000	)	($000	)
Investments
Assets
U.S. Government and Agency Obligations	—		132,478		—		132,478
Corporate Bonds	—		31,150,117		—		31,150,117
Temporary Cash Investments	322,423		—		—		322,423
Total Assets	322,423		31,282,595		—		31,605,018
Derivatives Financial Instruments
Assets
Futures Contracts¹	271		—		—		271

1 Represents variation margin on the last day of the reporting period.

Intermediate-Term Corporate Bond Index Fund

E. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000	)
Tax Cost	29,755,095
Gross Unrealized Appreciation	1,864,285
Gross Unrealized Depreciation	(13,757	)
Net Unrealized Appreciation (Depreciation)	1,850,528

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $119,622,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 29, 2020, the fund purchased $12,733,815,000 of investment securities and sold $8,079,862,000 of investment securities, other than U.S. government securities and temporary cash investments. Purchases and sales of U.S. government securities were $3,677,798,000 and $3,362,989,000, respectively. Total purchases and sales include $8,269,741,000 and $3,555,521,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 29, 2020, such purchases and sales were $671,573,000 and $3,118,884,000, respectively; these amounts are included in the purchases and sales of investment securities noted above.

Intermediate-Term Corporate Bond Index Fund

G. Capital share transactions for each class of shares were:

	Six Months Ended				Year Ended
	February 29, 2020				August 31, 2019
	Amount		Shares		Amount		Shares
	($000	)	(000	)	($000	)	(000	)
ETF Shares
Issued¹	8,414,056		91,641		8,279,726		96,725
Issued in Lieu of Cash Distributions	—		—		—		—
Redeemed	(3,618,185	)	(39,500	)	(5,593,661	)	(64,200	)
Net Increase (Decrease)—ETF Shares	4,795,871		52,141		2,686,065		32,525
Admiral Shares
Issued¹	240,253		9,727		434,667		18,688
Issued in Lieu of Cash Distributions	18,092		731		33,922		1,463
Redeemed	(164,145	)	(6,642	)	(270,759	)	(11,844	)
Net Increase (Decrease)—Admiral Shares	94,200		3,816		197,830		8,307
Institutional Shares
Issued¹	114,449		3,757		31,972		1,136
Issued in Lieu of Cash Distributions	4,932		161		8,178		286
Redeemed	(34,695	)	(1,145	)	(162,064	)	(5,745	)
Net Increase (Decrease)—Institutional Shares	84,686		2,773		(121,914	)	(4,323	)

1 Includes purchase fees for fiscal 2020 and 2019 of $890,000 and $1,145,000, respectively (fund totals).

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Long-Term Corporate Bond Index Fund

Fund Allocation

As of February 29, 2020

Finance	16.8	%
Industrial	69.0
Treasury/Agency	0.7
Utilities	12.6
Other	0.9

The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempt-ing to remain fully invested and tracking their target index as closely as possible.

Long-Term Corporate Bond Index Fund

Financial Statements (unaudited)

Schedule of Investments—Investments Summary

As of February 29, 2020

				Face		Market		Percentage
			Maturity	Amount		Value^•		of Net
		Coupon	Date	($000	)	($000	)	Assets
U.S. Government and Agency Obligations
U.S. Government Securities
	United States Treasury Note/Bond	2.375%	11/15/49	17,750		20,718		0.4%
	United States Treasury Note/Bond	1.500%	2/15/30	19,010		19,657		0.4%
Total U.S. Government and Agency Obligations (Cost $40,234)						40,375		0.8%
Corporate Bonds
Finance
	Banking
1	Bank of America Corp.	4.330%	3/15/50	7,275		9,310		0.2%
1	Bank of America Corp.	3.946%–7.750%	1/29/37–1/23/49	37,420		50,122		0.9%
	Bank of America NA	6.000%	10/15/36	3,887		5,452		0.1%
	Goldman Sachs Capital I	6.345%	2/15/34	2,822		3,997		0.1%
	Goldman Sachs Group Inc.	6.750%	10/1/37	14,252		20,326		0.4%
	Goldman Sachs Group Inc.	6.250%	2/1/41	7,592		11,112		0.2%
1	Goldman Sachs Group Inc.		4.017%–6.450% 2/15/33–10/21/45	25,109		31,454		0.6%
1	JPMorgan Chase & Co.	3.882%	7/24/38	7,875		9,009		0.2%
1	JPMorgan Chase & Co.	3.897%–8.750%	9/1/30–1/23/49	49,746		65,428		1.2%
	Wachovia Corp.	5.500%–7.500%	4/15/35–8/1/35	3,728		5,107		0.1%
	Wells Fargo & Co.	3.900%–5.606%	2/7/35–12/7/46	35,072		44,238		0.8%
	Wells Fargo Bank NA	5.850%–6.600%	8/26/36–1/15/38	8,946		13,057		0.2%
1	Wells Fargo Capital X	5.950%	12/1/86	2,050		2,683		0.0%
	Banking—Other †					193,486		3.5%
	Brokerage †					23,721		0.4%
	Finance Companies
	GE Capital International Funding Co. Unlimited Co.	4.418%	11/15/35	26,824		30,530		0.6%

Long-Term Corporate Bond Index Fund

				Face		Market		Percentage
			Maturity	Amount		Value^•		of Net
		Coupon	Date	($000	)	($000	)	Assets
	Finance Companies—Other †					637		0.0%
	Insurance
	Aetna Inc.	3.875%–6.750%	6/15/36–8/15/47	8,156		9,995		0.2%
	Berkshire Hathaway Finance Corp.	4.200%–5.750%	1/15/40–1/15/49	18,275		23,195		0.4%
	Berkshire Hathaway Inc.	4.500%	2/11/43	2,141		2,835		0.1%
	UnitedHealth Group Inc.	3.500%–6.875%	7/15/35–8/15/59	45,165		56,631		1.0%
	Insurance—Other †					238,259		4.4%
	Real Estate Investment Trusts †					58,234		1.1%
						908,818		16.7%
	Industrial
	Basic Industry
	Lubrizol Corp.	6.500%	10/1/34	658		981		0.0%
	Basic Industry—Other †					206,259		3.8%
	Capital Goods
	General Electric Co.	6.750%	3/15/32	7,299		9,813		0.2%
	General Electric Co.	4.125%–6.875%	8/7/37–3/11/44	19,291		24,590		0.4%
	Precision Castparts Corp.	3.900%–4.375%	1/15/43–6/15/45	2,277		2,895		0.1%
	United Technologies Corp.	4.500%	6/1/42	8,655		11,061		0.2%
2,3	Capital Goods—Other †					231,544		4.2%
	Communication
	AT&T Inc.	4.500%	3/9/48	11,080		12,641		0.2%
	AT&T Inc.	5.250%	3/1/37	8,407		10,351		0.2%
	AT&T Inc.	4.750%	5/15/46	8,654		10,191		0.2%
	AT&T Inc.	4.300%–6.550%	9/15/34–8/15/58	92,036		112,619		2.1%
	British
	Telecommunications plc	9.625%	12/15/30	5,799		9,183		0.2%
	Charter Communications Operating LLC / Charter Communications Operating Capital	6.484%	10/23/45	8,303		10,678		0.2%
	Charter Communications
	Operating LLC / Charter
	Communications
	Operating Capital	4.800%–6.834%	10/23/35–10/23/55	31,705		37,403		0.7%
	Comcast Corp.	4.700%	10/15/48	9,186		12,061		0.2%
	Comcast Corp.	4.600%	10/15/38	9,014		11,342		0.2%
	Comcast Corp.	4.950%	10/15/58	7,295		9,984		0.2%
	Comcast Corp.	3.200%–7.050%	10/15/30–11/1/52	71,266		88,237		1.6%
	Deutsche Telekom
	International Finance BV	8.750%	6/15/30	9,650		14,685		0.3%
	NBCUniversal Media LLC	4.450%–6.400%	4/30/40–1/15/43	8,240		11,517		0.2%
	Orange SA	9.000%	3/1/31	7,471		11,925		0.2%
	Time Warner Cable LLC	4.500%–7.300%	5/1/37–9/15/42	19,589		24,102		0.4%
	Time Warner
	Entertainment Co. LP	8.375%	7/15/33	3,278		4,840		0.1%
	Verizon Communications Inc.	4.862%	8/21/46	11,565		15,380		0.3%
	Verizon Communications Inc.	4.522%	9/15/48	9,922		12,790		0.2%
	Verizon Communications Inc.	4.500%	8/10/33	8,690		10,609		0.2%
	Verizon Communications Inc.	4.272%	1/15/36	8,777		10,496		0.2%
	Verizon Communications Inc.	4.400%	11/1/34	8,143		9,842		0.2%

Long-Term Corporate Bond Index Fund

				Face		Market		Percentage
			Maturity	Amount		Value^•		of Net
		Coupon	Date	($000	)	($000	)	Assets
	Verizon Communications Inc.	5.250%	3/16/37	7,316		9,729		0.2%
	Verizon Communications Inc.	4.672%	3/15/55	6,980		9,333		0.2%
	Verizon Communications Inc.	5.012%	4/15/49	6,466		8,905		0.1%
	Verizon Communications Inc.	3.850%–6.400%	9/15/33–8/21/54	14,693		18,108		0.3%
	Vodafone Group plc	5.250%	5/30/48	7,825		9,882		0.2%
³	Communication—Other †					228,429		4.2%
	Consumer Cyclical
	Amazon.com Inc.	4.250%	8/22/57	7,357		9,862		0.2%
	Amazon.com Inc.	3.875%	8/22/37	7,671		9,211		0.2%
	Home Depot Inc.	5.875%	12/16/36	7,236		10,394		0.2%
	Visa Inc.	4.300%	12/14/45	9,339		12,158		0.2%
	Consumer Cyclical—Other †					272,095		5.0%
	Consumer Noncyclical
	Abbott Laboratories	4.900%	11/30/46	7,335		10,228		0.2%
	AbbVie Inc.	4.700%	5/14/45	10,156		11,980		0.2%
³	AbbVie Inc.	4.050%	11/21/39	9,375		10,326		0.2%
³	AbbVie Inc.	4.250%–4.875%	5/14/35–11/21/49	35,957		42,143		0.8%
	Amgen Inc.	4.663%	6/15/51	8,228		10,275		0.2%
	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.	4.900%	2/1/46	24,473		30,119		0.5%
	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.	4.700%	2/1/36	13,290		15,867		0.3%
	Anheuser-Busch InBev Finance Inc.	4.000%–4.900%	2/1/36–2/1/46	13,639		16,139		0.3%
	Anheuser-Busch InBev Worldwide Inc.	5.550%	1/23/49	7,545		10,205		0.2%
	Anheuser-Busch InBev Worldwide Inc.	3.750%–8.200%	1/23/31–1/23/59	40,620		51,209		0.9%
	AstraZeneca plc	6.450%	9/15/37	6,848		10,268		0.2%
	CVS Health Corp.	5.050%	3/25/48	19,295		23,654		0.4%
	CVS Health Corp.	4.780%	3/25/38	12,898		15,203		0.3%
	CVS Health Corp.	5.125%	7/20/45	8,824		10,802		0.2%
	CVS Health Corp.	4.875%–6.125%	7/20/35–12/5/43	6,208		7,983		0.1%
	GlaxoSmithKline Capital Inc.	6.375%	5/15/38	7,332		11,063		0.2%
³	Consumer Noncyclical—Other †					754,192		13.8%
	Energy
	ConocoPhillips	6.500%	2/1/39	7,125		10,471		0.2%
³	Energy—Other †					554,337		10.2%
	Other Industrial †					38,081		0.7%
	Technology
	Apple Inc.	4.650%	2/23/46	10,064		13,408		0.2%
	Apple Inc.	2.950%–4.500%	2/23/36–9/11/49	39,966		47,581		0.9%
	International Business
	Machines Corp.	4.250%	5/15/49	7,296		9,053		0.2%
	Microsoft Corp.	4.450%	11/3/45	8,960		12,024		0.2%
	Microsoft Corp.	3.700%	8/8/46	9,821		11,915		0.2%
	Microsoft Corp.	4.000%	2/12/55	7,480		9,539		0.2%
	Microsoft Corp.	3.450%–5.300%	2/12/35–2/6/57	53,695		67,792		1.2%
	Oracle Corp.	3.250%–6.500%	5/15/30–5/15/55	51,467		63,728		1.2%
³	Technology—Other †					151,243		2.8%

Long-Term Corporate Bond Index Fund

				Face	Market	Percentage
			Maturity	Amount	Value^•	of Net
		Coupon	Date	($000)	($000)	Assets
	Transportation
	Burlington Northern Santa Fe LLC	3.550%–6.200%	8/15/36–2/15/50	33,134	41,630	0.7%
³	Transportation—Other †				157,153	2.9%

					3,765,736	69.0%
Utilities
	Electric
	Berkshire Hathaway Energy Co.	3.800%–6.125%	4/1/36–1/15/49	15,759	20,873	0.4%
	Duke Energy Carolinas LLC	3.200%–6.450%	10/15/32–8/15/49	16,683	20,952	0.4%
	Duke Energy Corp.	3.750%–4.800%	12/15/45–6/15/49	8,300	9,582	0.2%
	Duke Energy Florida LLC	3.400%–6.400%	9/15/37–7/15/48	8,649	11,238	0.2%
	Duke Energy Indiana LLC	3.250%–6.450%	10/15/35–10/1/49	6,712	9,247	0.1%
	Duke Energy Ohio Inc.	4.300%	2/1/49	2,475	3,109	0.1%
	Duke Energy Progress LLC	3.600%–6.300%	4/1/38–9/15/47	9,336	11,385	0.2%
	MidAmerican Energy Co.	3.650%–6.750%	12/30/31–7/15/49	9,968	12,854	0.2%
	Nevada Power Co.	2.400%–6.750%	5/1/30–8/1/50	3,874	4,680	0.1%
	PacifiCorp	4.100%–6.350%	6/15/35–2/15/50	12,177	16,245	0.3%
	Progress Energy Inc.	6.000%–7.750%	3/1/31–12/1/39	2,180	3,100	0.1%
³	Electric—Other †				483,355	8.8%
	Natural Gas
	Piedmont Natural Gas Co. Inc.	3.640%–4.650%	8/1/43–11/1/46	1,305	1,446	0.0%
	Natural Gas—Other †				51,548	1.0%
	Other Utility †				13,334	0.2%
					672,948	12.3%
Total Corporate Bonds (Cost $4,724,988)					5,347,502	98.0%
Taxable Municipal Bonds (Cost $8,347) †					9,580	0.2%

Long-Term Corporate Bond Index Fund
				Market	Percentage
				Value^•	of Net
		Coupon	Shares	($000)	Assets
Temporary Cash Investment
Money Market Fund
4	Vanguard Market Liquidity Fund
	(Cost $51,297)	1.706%	512,823	51,298	0.9%

Total Investments (Cost $4,824,866)				5,448,755	99.9%
Other Assets and Liabilities—Net				5,823	0.1%
Net Assets				5,454,578	100.0%

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

†

Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

Securities with a value of $255,000 have been segregated as initial margin for recently closed futures contracts.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Corporate Bond Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $4,773,569)		5,397,457
Affiliated Issuers (Cost $51,297)		51,298
Total Investments in Securities		5,448,755
Investment in Vanguard		229
Receivables for Investment Securities Sold		50,558
Receivables for Accrued Income		57,891
Receivables for Capital Shares Issued		2,281
Variation Margin Receivable—Futures Contracts		100
Total Assets		5,559,814
Liabilities
Due to Custodian		38
Payables for Investment Securities Purchased		103,418
Payables for Capital Shares Redeemed		999
Payables for Distributions		320
Payables to Vanguard		403
Variation Margin Payable—Futures Contracts		58
Total Liabilities		105,236
Net Assets		5,454,578

Long-Term Corporate Bond Index Fund

At February 29, 2020, net assets consisted of:

($000s, except shares and per-share amounts)	Amount
Paid-in Capital		4,773,956
Total Distributable Earnings (Loss)		680,622
Net Assets		5,454,578

ETF Shares—Net Assets
Applicable to 43,016,744 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		4,591,267
Net Asset Value Per Share—ETF Shares		$106.73

Admiral Shares—Net Assets
Applicable to 10,731,349 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		306,943
Net Asset Value Per Share—Admiral Shares		$28.60

Institutional Shares—Net Assets
Applicable to 15,675,787 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		556,368
Net Asset Value Per Share—Institutional Shares		$35.49

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Corporate Bond Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
		(sssssss$000	)
Investment Income
Income
Interest¹		94,742
Total Income		94,742
Expenses
The Vanguard Group—Note B
Investment Advisory Services		82
Management and Administrative—ETF Shares		810
Management and Administrative—Admiral Shares		78
Management and Administrative—Institutional Shares		113
Marketing and Distribution—ETF Shares		138
Marketing and Distribution—Admiral Shares		10
Marketing and Distribution—Institutional Shares		11
Custodian Fees		33
Shareholders’ Reports—ETF Shares		17
Shareholders’ Reports—Admiral Shares		1
Shareholders’ Reports—Institutional Shares		—
Trustees’ Fees and Expenses		1
Total Expenses		1,294
Expenses Paid Indirectly		(32	)
Net Expenses		1,262
Net Investment Income		93,480
Realized Net Gain (Loss)
Investment Securities Sold^1,2		119,360
Futures Contracts		(1,561	)
Realized Net Gain (Loss)		117,799
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹		81,835
Futures Contracts		(4	)
Change in Unrealized Appreciation (Depreciation)		81,831
Net Increase (Decrease) in Net Assets Resulting from Operations		293,110

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $137,000, $4,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.

Includes $89,941,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Corporate Bond Index Fund

Statement of Changes in Net Assets

	Six Months Ended			Year Ended
	February 29,			August 31,
	2020			2019
		($000	)		($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		93,480			169,997
Realized Net Gain (Loss)		117,799			48,730
Change in Unrealized Appreciation (Depreciation)		81,831			641,403
Net Increase (Decrease) in Net Assets Resulting from Operations		293,110			860,130
Distributions¹
ETF Shares		(78,660	)		(129,598	)
Admiral Shares		(5,001	)		(8,737	)
Institutional Shares		(9,888	)		(27,120	)
Total Distributions		(93,549	)		(165,455	)
Capital Share Transactions
ETF Shares		349,018			985,012
Admiral Shares		39,682			35,845
Institutional Shares		(5,357	)		(324,656	)
Net Increase (Decrease) from Capital Share Transactions		383,343			696,201
Total Increase (Decrease)		582,904			1,390,876
Net Assets
Beginning of Period		4,871,674			3,480,798
End of Period		5,454,578			4,871,674

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Corporate Bond Index Fund

Financial Highlights

ETF Shares

	Six Months
	Ended
For a Share Outstanding	February 29,												Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period		$102.86			$88.35			$94.07			$96.37			$85.25			$92.38
Investment Operations
Net Investment Income		1.9171			3.9361			3.8801			3.8971			3.905			3.910
Net Realized and Unrealized Gain (Loss) on Investments²		3.892			14.458			(5.722	)		(2.356	)		11.127			(7.127	)
Total from Investment Operations		5.809			18.394			(1.842	)		1.541			15.032			(3.217	)
Distributions
Dividends from Net Investment Income		(1.939	)		(3.884	)		(3.878	)		(3.841	)		(3.912	)		(3.913	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(1.939	)		(3.884	)		(3.878	)		(3.841	)		(3.912	)		(3.913	)
Net Asset Value, End of Period		$106.73			$102.86			$88.35			$94.07			$96.37			$85.25

Total Return		5.76	%		21.60	%		-2.01	%		1.81	%		18.21	%		-3.64	%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$4,591			$4,074			$2,509			$2,098			$1,494			$972
Ratio of Total Expenses to Average Net Assets		0.05	%		0.05	%		0.07	%		0.07	%		0.07	%		0.10	%
Ratio of Net Investment Income to Average Net Assets		3.79	%		4.36	%		4.26	%		4.27	%		4.46	%		4.37	%
Portfolio Turnover Rate³		22	%		47	%		48	%		56	%		59	%		64	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Includes increases from purchase fees of $.00, $.00, $.09, $.09, $.03, and $.11.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Corporate Bond Index Fund

Financial Highlights

Admiral Shares

	Six Months
	Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period		$27.55			$23.65			$25.18			$25.79			$22.80			$24.71
Investment Operations
Net Investment Income		.5121			1.0531			1.0431			1.0471			1.047			1.048
Net Realized and Unrealized Gain (Loss) on Investments²		1.042			3.895			(1.536	)		(.625	)		2.991			(1.911	)
Total from Investment Operations		1.554			4.948			(.493	)		.422			4.038			(.863	)
Distributions
Dividends from Net Investment Income		(.504	)		(1.048	)		(1.037	)		(1.032	)		(1.048	)		(1.047	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(.504	)		(1.048	)		(1.037	)		(1.032	)		(1.048	)		(1.047	)
Net Asset Value, End of Period		$28.60			$27.55			$23.65			$25.18			$25.79			$22.80

Total Return³		5.73	%		21.64	%		-2.00	%		1.84	%		18.21	%		-3.66	%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$307			$256			$186			$161			$90			$67
Ratio of Total Expenses to Average Net Assets		0.07	%		0.07	%		0.07	%		0.07	%		0.07	%		0.10	%
Ratio of Net Investment Income to Average Net Assets		3.77	%		4.34	%		4.26	%		4.27	%		4.46	%		4.37	%
Portfolio Turnover Rate⁴		22	%		47	%		48	%		56	%		59	%		64	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Includes increases from purchase fees of $.00, $.00, $.03, $.02, $.01, and $.02.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Corporate Bond Index Fund

Financial Highlights

Institutional Shares

	Six Months
	Ended
For a Share Outstanding	February 29,									Year Ended August 31,
Throughout Each Period	2020			2019			2018			2017			2016			2015
Net Asset Value, Beginning of Period		$34.18			$29.36			$31.25			$32.02			$28.31			$30.68
Investment Operations
Net Investment Income		.6391			1.3141			1.2991			1.3061			1.306			1.310
Net Realized and Unrealized Gain (Loss) on Investments²		1.300			4.812			(1.895	)		(.790	)		3.710			(2.370	)
Total from Investment Operations		1.939			6.126			(.596	)		.516			5.016			(1.060	)
Distributions
Dividends from Net Investment Income		(.629	)		(1.306	)		(1.294	)		(1.286	)		(1.306	)		(1.310	)
Distributions from Realized Capital Gains		—			—			—			—			—			—
Total Distributions		(.629	)		(1.306	)		(1.294	)		(1.286	)		(1.306	)		(1.310	)
Net Asset Value, End of Period		$35.49			$34.18			$29.36			$31.25			$32.02			$28.31

Total Return³		5.76	%		21.58	%		-1.95	%		1.81	%		18.22	%		-3.62	%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$556			$541			$786			$528			$384			$296
Ratio of Total Expenses to Average Net Assets		0.05	%		0.05	%		0.05	%		0.05	%		0.05	%		0.07	%
Ratio of Net Investment Income to Average Net Assets		3.79	%		4.36	%		4.28	%		4.29	%		4.48	%		4.40	%
Portfolio Turnover Rate⁴		22	%		47	%		48	%		56	%		59	%		64	%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Includes increases from purchase fees of $.00, $.00, $.03, $.03, $.01, and $.03.

Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Long-Term Corporate Bond Index Fund

Notes to Financial Statements

Vanguard Long-Term Corporate Bond Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. Certain of the fund’s investments are in corporate debt instruments; the issuers’ abilities to meet their obligations may be affected by economic developments in their respective industries. The fund offers three classes of shares: ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

During the six months ended February 29, 2020, the fund’s average investments in long and short futures contracts represented 0% and less than 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period. The fund had no open futures contracts at February 29, 2020.

Long-Term Corporate Bond Index Fund

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Long-Term Corporate Bond Index Fund

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $229,000, representing less than 0.01% of the fund’s net assets and 0.09% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended February 29, 2020, custodian fee offset arrangements reduced the fund’s expenses by $32,000 (an annual rate of less than 0.01% of average net assets).

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.).

The following table summarizes the market value of the fund’s investments as of February 29, 2020, based on the inputs used to value them:

	Level 1			Level 2			Level 3			Total
		($000	)		($000	)		($000	)		($000	)
Investments
Assets
U.S. Government and Agency Obligations		—			40,375			—			40,375
Corporate Bonds		—			5,347,502			—			5,347,502
Taxable Municipal Bonds		—			9,580			—			9,580
Temporary Cash Investments		51,298			—			—			51,298
Total Assets		51,298			5,397,457			—			5,448,755
Derivatives Financial Instruments
Assets
Futures Contracts¹		100			—			—			100
Liabilities
Futures Contracts¹		58			—			—			58

Represents variation margin on the last day of the reporting period.

Long-Term Corporate Bond Index Fund

E. As of February 29, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000	)
Tax Cost		4,826,205
Gross Unrealized Appreciation		630,297
Gross Unrealized Depreciation		(7,747	)
Net Unrealized Appreciation (Depreciation)		622,550

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $72,512,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 29, 2020, the fund purchased $1,729,080,000 of investment securities and sold $1,369,189,000 of investment securities, other than U.S. government securities and temporary cash investments. Purchases and sales of U.S. government securities were $466,957,000 and $456,608,000, respectively. Total purchases and sales include $1,087,520,000 and $755,631,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 29, 2020, such purchases and sales were $66,307,000 and $324,287,000, respectively; these amounts are included in the purchases and sales of investment securities noted above.

Long-Term Corporate Bond Index Fund

G. Capital share transactions for each class of shares were:

	Six Months Ended									Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
		($000	)		(000	)		($000	)		(000	)
ETF Shares
Issued¹		1,116,525			10,908			1,984,864			21,804
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(767,507	)		(7,500	)		(999,852	)		(10,600	)
Net Increase (Decrease)—ETF Shares		349,018			3,408			985,012			11,204
Admiral Shares
Issued¹		64,410			2,345			79,321			3,240
Issued in Lieu of Cash Distributions		3,868			141			6,829			281
Redeemed		(28,596	)		(1,046	)		(50,305	)		(2,083	)
Net Increase (Decrease)—Admiral Shares		39,682			1,440			35,845			1,438
Institutional Shares
Issued¹		7,975			234			11,860			396
Issued in Lieu of Cash Distributions		9,032			265			24,334			820
Redeemed		(22,364	)		(661	)		(360,850	)		(12,138	)
Net Increase (Decrease)—Institutional Shares		(5,357	)		(162	)		(324,656	)		(10,922	)

Includes purchase fees for fiscal 2020 and 2019 of $754,000 and $919,000, respectively (fund totals).

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

Mortgage-Backed Securities Index Fund

Fund Allocation

As of February 29, 2020

Government Mortgage-Backed

100.0%

Mortgage-Backed Securities Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of February 29, 2020

						Face		Market
				Maturity		Amount		Value^•
		Coupon			Date	($000	)	($000	)
U.S. Government and Agency Obligations (99.8%)
Conventional Mortgage-Backed Securities (99.8%)
1,2	Fannie Mae Pool	2.000	%		11/1/27–2/1/35	21,162		21,598
1,2	Fannie Mae Pool	2.500	%		11/1/26–1/1/50	277,022		284,713
¤,1,2	Fannie Mae Pool	3.000	%		11/1/25–3/1/50	1,505,763		1,562,909
¤,1,2	Fannie Mae Pool	3.500	%		12/1/20–3/1/50	1,477,709		1,553,560
¤,1,2	Fannie Mae Pool	4.000	%		5/1/21–3/1/50	1,144,600		1,218,895
¤,1,2	Fannie Mae Pool	4.500	%		7/1/20–3/1/50	430,351		465,605
¤,1,2	Fannie Mae Pool	5.000	%		10/1/20–3/1/50	145,176		160,050
¤,1,2	Fannie Mae Pool	5.500	%		8/1/20–3/1/50	60,211		68,242
1,2	Fannie Mae Pool	6.000	%		12/1/20–5/1/41	31,894		37,207
1,2	Fannie Mae Pool	6.500	%		10/1/21–10/1/39	7,925		9,272
1,2	Fannie Mae Pool	7.000	%		12/1/22–10/1/37	456		516
1,2	Fannie Mae Pool	7.500	%		11/1/22	2		2
1,2	Freddie Mac Gold Pool	2.000	%		1/1/28–12/1/31	11,425		11,715
1,2	Freddie Mac Gold Pool	2.500	%		8/1/22–2/1/43	185,529		191,388
1,2	Freddie Mac Gold Pool	3.000	%		1/1/26–6/1/49	651,325		679,042
1,2	Freddie Mac Gold Pool	3.500	%		9/1/25–2/1/49	747,457		788,857
1,2	Freddie Mac Gold Pool	4.000	%		10/1/21–6/1/49	494,577		528,993
1,2	Freddie Mac Gold Pool	4.500	%		3/1/20–11/1/48	227,325		247,208
1,2	Freddie Mac Gold Pool	5.000	%		4/1/20–11/1/48	55,082		61,280
1,2	Freddie Mac Gold Pool	5.500	%		4/1/21–6/1/41	42,839		48,455
1,2	Freddie Mac Gold Pool	6.000	%		1/1/24–5/1/40	25,195		29,509
1,2	Freddie Mac Gold Pool	6.500	%		10/1/28–9/1/39	3,985		4,587
1,2	Freddie Mac Gold Pool	7.000	%		7/1/28–12/1/38	192		220
1	Ginnie Mae I Pool	3.000	%		1/15/26–3/15/45	28,867		30,025
1	Ginnie Mae I Pool	3.500	%		2/15/26–9/15/49	33,655		35,356
1	Ginnie Mae I Pool	4.000	%		7/15/24–6/15/49	38,598		41,046
1	Ginnie Mae I Pool	4.500	%		8/15/33–7/15/49	51,227		56,089
1	Ginnie Mae I Pool	5.000	%		5/15/20–4/15/41	22,266		24,722
1	Ginnie Mae I Pool	5.500	%		10/15/32–3/15/40	7,499		8,454
1	Ginnie Mae I Pool	6.000	%		4/15/28–5/15/41	2,885		3,327
1	Ginnie Mae I Pool	6.500	%		5/15/24–1/15/39	117		137
1	Ginnie Mae I Pool	7.000	%		10/15/27	3		3
¤,1	Ginnie Mae II Pool	2.500	%		6/20/27–3/1/50	98,261		101,075
¤,1	Ginnie Mae II Pool	3.000	%		10/20/26–3/1/50	936,441		973,608
¤,1	Ginnie Mae II Pool	3.500	%		12/20/25–3/1/50	1,105,905		1,158,674
¤,1	Ginnie Mae II Pool	4.000	%		9/20/25–3/1/50	616,744		653,010
¤,1	Ginnie Mae II Pool	4.500	%		2/20/39–3/1/50	274,958		294,039
¤,1	Ginnie Mae II Pool	5.000	%		6/20/33–3/1/50	96,774		105,911

Mortgage-Backed Securities Index Fund

					Face		Market
				Maturity	Amount		Value^•
		Coupon		Date	($000	)	($000	)
¤,1	Ginnie Mae II Pool	5.500	%	11/20/33–3/1/50	9,705		11,585
1	Ginnie Mae II Pool	6.000	%	3/20/31–9/20/41	5,259		6,119
1	Ginnie Mae II Pool	6.500	%	10/20/28–9/20/40	677		803
1	Ginnie Mae II Pool	7.000	%	4/20/38–11/20/38	61		74
¤,1,2	UMBS Pool	2.000	%	1/1/32–3/1/35	13,046		13,260
¤,1,2	UMBS Pool	2.500	%	1/1/34–3/1/50	287,963		294,305
¤,1,2	UMBS Pool	3.000	%	12/1/26–2/1/50	380,034		393,151
¤,1,2	UMBS Pool	3.500	%	7/1/26–2/1/50	258,276		270,700
1,2	UMBS Pool	4.000	%	8/1/38–9/1/49	188,966		202,706
¤,1,2	UMBS Pool	4.500	%	8/1/48–1/1/50	107,815		116,428
¤,1,2	UMBS Pool	5.000	%	3/1/49–2/1/50	31,173		34,316
							12,802,746
Nonconventional Mortgage-Backed Securities (0.0%)
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.560%	2.273	%	7/1/43	661		673
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.793%	3.396	%	8/1/42	74		75
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.830%	3.451	%	4/1/41	30		31
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.290%	3.970	%	12/1/41	53		55
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.310%	3.592	%	9/1/37	21		21
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.479%	3.237	%	3/1/43	236		237
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.584%	2.789	%	6/1/43	132		134
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.627%	4.752	%	3/1/38	3		3
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.639%	3.864	%	8/1/39	32		33
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.657%	4.270	%	10/1/42	89		90
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.682%	4.167	%	10/1/37	55		56
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.690%	3.709	%	10/1/39	14		15
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.690%	3.975	%	9/1/42	226		236
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.700%	3.747	%	12/1/40	62		65
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.726%	4.608	%	5/1/42	41		43
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.734%	3.945	%	11/1/39	14		15
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.771%	4.257	%	5/1/42	18		19
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.798%	4.356	%	3/1/42	41		44
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.804%	3.988	%	12/1/39	76		80
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.805%	3.772	%	11/1/41	47		50
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.810%	3.685	%	10/1/40	6		6
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.810%	3.810	%	12/1/40	2		3
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.813%	3.858	%	1/1/42	89		94
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.813%	3.963	%	11/1/41	10		11
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.815%	3.690	%	11/1/40	3		3
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.815%	3.923	%	12/1/41	37		39
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.815%	4.693	%	5/1/41	27		29
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.819%	4.252	%	3/1/41	74		78
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.822%	4.330	%	9/1/40	87		92
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.823%	4.136	%	2/1/41	3		3
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.835%	3.856	%	1/1/40	2		2
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.850%	4.432	%	2/1/42	76		82
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.861%	4.745	%	5/1/40	2		2
1,2,3	Fannie Mae Pool, 12M USD LIBOR + 1.909%	4.784	%	4/1/37	5		5
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640%	3.806	%	11/1/43	140		146
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.660%	3.711	%	10/1/37	7		7
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.695%	4.218	%	2/1/37	10		11

Mortgage-Backed Securities Index Fund

					Face		Market
				Maturity	Amount		Value^•
		Coupon		Date	($000	)	($000	)
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.745%	3.750	%	12/1/40	14		15
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.840%	4.590	%	6/1/37	22		24
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.864%	3.925	%	2/1/42	16		16
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.870%	3.986	%	12/1/39	8		9
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%	4.699	%	6/1/41	25		26
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%	4.754	%	6/1/40	14		15
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%	4.755	%	5/1/40	1		1
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.895%	4.323	%	9/1/40	33		34
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.900%	4.734	%	6/1/40	11		11
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910%	4.940	%	2/1/41	51		55
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910%	5.035	%	2/1/41	2		3
1,2,3	Freddie Mac Non Gold Pool, 12M USD LIBOR + 2.085%	5.210	%	3/1/38	5		5
1,3	Ginnie Mae II Pool, 1 YR CMT + 1.500%	3.125	%	11/20/40–12/20/42	260		268
1,3	Ginnie Mae II Pool, 1 YR CMT + 1.500%	3.250	%	7/20/41–8/20/41	72		75
1,3	Ginnie Mae II Pool, 1 YR CMT + 1.500%	3.875	%	4/20/41	3		3
1,3	Ginnie Mae II Pool, 1 YR CMT + 1.500%	4.000	%	1/20/41–2/20/41	264		275
1,3	Ginnie Mae II Pool, 1 YR CMT + 2.000%	3.625	%	11/20/40	3		3
1,3	Ginnie Mae II Pool, 1 YR CMT + 2.000%	4.375	%	5/20/41	2		2
							3,428
Total U.S. Government and Agency Obligations (Cost $12,488,850)							12,806,174

100

Mortgage-Backed Securities Index Fund

					Market
					Value^•
		Coupon		Shares	($000	)
Temporary Cash Investment (9.9%)
Money Market Fund (9.9%)
4	Vanguard Market Liquidity Fund
	(Cost $1,264,556)	1.706	%	12,644,249	1,264,804
Total Investments (109.7%) (Cost $13,753,406)					14,070,978
Other Assets and Liabilities—Net (-9.7%)					(1,241,350	)
Net Assets (100%)					12,829,628

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 29, 2020.

The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock.

Adjustable-rate security; rate shown is effective rate at period end. Certain adjustable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

CMT—Constant Maturing Treasury Rate.

LIBOR—London Interbank Offered Rate.

UMBS—Uniform Mortgage-Backed Securities.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

						($000	)
						Value and
		Number of				Unrealized
		Long (Short	)	Notional		Appreciation
	Expiration	Contracts		Amount		(Depreciation	)
Short Futures Contracts
5-Year U.S. Treasury Note	June 2020	(225	)	(27,619	)	(190	)

See accompanying Notes, which are an integral part of the Financial Statements.

101

Mortgage-Backed Securities Index Fund

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)		Amount
Assets
Investments in Securities, at Value
Unaffiliated Issuers (Cost $12,488,850)		12,806,174
Affiliated Issuers (Cost $1,264,556)		1,264,804
Total Investments in Securities		14,070,978
Investment in Vanguard		554
Receivables for Investment Securities Sold		647,600
Receivables for Accrued Income		37,399
Receivables for Capital Shares Issued		2,445
Total Assets		14,758,976
Liabilities
Due to Custodian		274
Payables for Investment Securities Purchased		1,830,723
Payables for Capital Shares Redeemed		96,748
Payables for Distributions		763
Payables to Vanguard		626
Variation Margin Payable—Futures Contracts		214
Total Liabilities		1,929,348
Net Assets		12,829,628
At February 29, 2020, net assets consisted of:

Paid-in Capital		12,494,207
Total Distributable Earnings (Loss)		335,421
Net Assets		12,829,628

ETF Shares—Net Assets
Applicable to 217,188,289 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		11,703,557
Net Asset Value Per Share—ETF Shares		$53.89

Admiral Shares—Net Assets
Applicable to 45,156,123 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		971,777
Net Asset Value Per Share—Admiral Shares		$21.52

Institutional Shares—Net Assets
Applicable to 5,290,888 outstanding $.001 par value shares of beneficial interest (unlimited authorization)		154,294
Net Asset Value Per Share—Institutional Shares		$29.16

See accompanying Notes, which are an integral part of the Financial Statements.

102

Mortgage-Backed Securities Index Fund

Statement of Operations

	Six Months Ended
	February 29, 2020
		($000	)
Investment Income
Income
Interest¹		153,248
Total Income		153,248
Expenses
The Vanguard Group—Note B
Investment Advisory Services		199
Management and Administrative—ETF Shares		1,812
Management and Administrative—Admiral Shares		250
Management and Administrative—Institutional Shares		28
Marketing and Distribution—ETF Shares		365
Marketing and Distribution—Admiral Shares		34
Marketing and Distribution—Institutional Shares		3
Custodian Fees		52
Shareholders’ Reports—ETF Shares		320
Shareholders’ Reports—Admiral Shares		10
Shareholders’ Reports—Institutional Shares		—
Trustees’ Fees and Expenses		3
Total Expenses		3,076
Net Investment Income		150,172
Realized Net Gain (Loss) on Investment Securities Sold¹		6,717
Change in Unrealized Appreciation (Depreciation)
Investment Securities¹		142,528
Futures Contracts		(190	)
Change in Unrealized Appreciation (Depreciation)		142,338
Net Increase (Decrease) in Net Assets Resulting from Operations		299,227

Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $10,081,000, ($4,000), and $222,000, respectively. Purchases and sales are for temporary cash investment purposes.

See accompanying Notes, which are an integral part of the Financial Statements.

103

Mortgage-Backed Securities Index Fund

Statement of Changes in Net Assets

	Six Months Ended			Year Ended
	February 29,			August 31,
	2020			2019
		($000	)		($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		150,172			275,650
Realized Net Gain (Loss)		6,717			4,371
Change in Unrealized Appreciation (Depreciation)		142,338			341,466
Net Increase (Decrease) in Net Assets Resulting from Operations		299,227			621,487
Distributions¹
ETF Shares		(136,774	)		(243,723	)
Admiral Shares		(10,972	)		(23,071	)
Institutional Shares		(1,655	)		(2,741	)
Total Distributions		(149,401	)		(269,535	)
Capital Share Transactions
ETF Shares		1,251,294			2,803,060
Admiral Shares		118,950			87,297
Institutional Shares		33,736			45,330
Net Increase (Decrease) from Capital Share Transactions		1,403,980			2,935,687
Total Increase (Decrease)		1,553,806			3,287,639
Net Assets
Beginning of Period		11,275,822			7,988,183
End of Period		12,829,628			11,275,822

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

104

Mortgage-Backed Securities Index Fund

Financial Highlights

ETF Shares

	Six Months
	Ended
For a Share Outstanding	February 29,						Year Ended August 31,
Throughout Each Period	2020		2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$53.26		$51.38		$53.00		$53.79		$53.05		$52.65
Investment Operations
Net Investment Income	.667	¹	1.564	¹	1.325	¹	1.059	¹	.967		.748
Net Realized and Unrealized Gain (Loss) on Investments	.634		1.859		(1.683	)	(.682	)	.968		.554
Total from Investment Operations	1.301		3.423		(.358	)	.377		1.935		1.302
Distributions
Dividends from Net Investment Income	(.671	)	(1.543	)	(1.262	)	(1.004	)	(.955	)	(.741	)
Distributions from Realized Capital Gains	—		—		—		(.163	)	(.240	)	(.161	)
Total Distributions	(.671	)	(1.543	)	(1.262	)	(1.167	)	(1.195	)	(.902	)
Net Asset Value, End of Period	$53.89		$53.26		$51.38		$53.00		$53.79		$53.05

Total Return	2.46%		6.80%		-0.67%		0.74%		3.70%		2.49%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$11,704		$10,316		$7,193		$4,252		$2,837		$1,451
Ratio of Total Expenses to Average Net Assets	0.05%		0.05%		0.07%		0.07%		0.07%		0.10%
Ratio of Net Investment Income to Average Net Assets	2.52%		3.01%		2.56%		2.00%		1.85%		1.43%
Portfolio Turnover Rate²	102%		190%		279%		339%		380%		713%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Includes 10%, 34%, 78%, 133%, 175%, and 331% attributable to mortgage-dollar-roll activity.

See accompanying Notes, which are an integral part of the Financial Statements.

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Mortgage-Backed Securities Index Fund

Financial Highlights

Admiral Shares


	Six Months
	Ended
For a Share Outstanding	February 29,						Year Ended August 31,
Throughout Each Period	2020		2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$21.26		$20.51		$21.17		$21.49		$21.20		$21.05
Investment Operations
Net Investment Income	.265	¹	.622	¹	.528	¹	.413	¹	.388		.298
Net Realized and Unrealized Gain (Loss) on Investments	.253		.742		(.674	)	(.258	)	.387		.214
Total from Investment Operations	.518		1.364		(.146	)	.155		.775		.512
Distributions
Dividends from Net Investment Income	(.258	)	(.614	)	(.514	)	(.410	)	(.389	)	(.297	)
Distributions from Realized Capital Gains	—		—		—		(.065	)	(.096	)	(.065	)
Total Distributions	(.258	)	(.614	)	(.514	)	(.475	)	(.485	)	(.362	)
Net Asset Value, End of Period	$21.52		$21.26		$20.51		$21.17		$21.49		$21.20

Total Return²	2.46%		6.77%		-0.68%		0.76%		3.70%		2.44%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$972		$841		$725		$527		$554		$424
Ratio of Total Expenses to Average Net Assets	0.07%		0.07%		0.07%		0.07%		0.07%		0.10%
Ratio of Net Investment Income to Average Net Assets	2.50%		2.99%		2.56%		2.00%		1.85%		1.43%
Portfolio Turnover Rate³	102%		190%		279%		339%		380%		713%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

Includes 10%, 34%, 78%, 133%, 175%, and 331% attributable to mortgage-dollar-roll activity.

See accompanying Notes, which are an integral part of the Financial Statements.

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Mortgage-Backed Securities Index Fund

Financial Highlights

Institutional Shares

	Six Months
	Ended
For a Share Outstanding	February 29,						Year Ended August 31,
Throughout Each Period	2020		2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$28.81		$27.79		$28.69		$29.12		$28.73		$28.52
Investment Operations
Net Investment Income	.361	¹	.846	¹	.721	¹	.571	¹	.532		.412
Net Realized and Unrealized Gain (Loss) on Investments	.342		1.011		(.920	)	(.353	)	.522		.295
Total from Investment Operations	.703		1.857		(.199	)	.218		1.054		.707
Distributions
Dividends from Net Investment Income	(.353	)	(.837	)	(.701	)	(.560	)	(.534	)	(.410	)
Distributions from Realized Capital Gains	—		—		—		(.088	)	(.130	)	(.087	)
Total Distributions	(.353	)	(.837	)	(.701	)	(.648	)	(.664	)	(.497	)
Net Asset Value, End of Period	$29.16		$28.81		$27.79		$28.69		$29.12		$28.73

Total Return	2.46%		6.80%		-0.68%		0.79%		3.72%		2.49%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$154		$119		$70		$52		$47		$44
Ratio of Total Expenses to Average Net Assets	0.05%		0.05%		0.05%		0.05%		0.05%		0.07%
Ratio of Net Investment Income to Average Net Assets	2.52%		3.01%		2.58%		2.02%		1.87%		1.46%
Portfolio Turnover Rate²	102%		190%		279%		339%		380%		713%

The expense ratio and net investment income ratio for the current period have been annualized.

Calculated based on average shares outstanding.

Includes 10%, 34%, 78%, 133%, 175%, and 331% attributable to mortgage-dollar-roll activity.

See accompanying Notes, which are an integral part of the Financial Statements.

107

Mortgage-Backed Securities Index Fund

Notes to Financial Statements

Vanguard Mortgage-Backed Securities Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker.

1. 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. Bonds and 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. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. 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 board of trustees to represent fair value.

3. To Be Announced (TBA) Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The fund may be a seller of TBA transactions to reduce its exposure to the mortgage-

108

Mortgage-Backed Securities Index Fund

backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. When the fund is a buyer of TBA transactions, it maintains cash or short-term investments in an amount sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The fund mitigates its counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The fund may also enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them 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. Under an MSFTA, upon a counterparty default (including bankruptcy), the fund may terminate any TBA transactions 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.

At February 29, 2020, counterparties had deposited in segregated accounts securities with a value of $409,000 and cash of $2,540,000 in connection with TBA transactions.

4. Mortgage Dollar Rolls: The fund enters into mortgage-dollar-roll transactions, in which the fund sells mortgage-backed securities to a dealer and simultaneously agrees to purchase similar securities in the future at a predetermined price. The proceeds of the securities sold in mortgage-dollar-roll transactions are typically invested in high-quality short-term fixed income securities. The fund forgoes principal and interest paid on the securities sold, and is compensated by interest earned on the proceeds of the sale and by a lower price on the securities to be repurchased. The fund has also entered into mortgage-dollar-roll transactions in which the fund buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell similar securities in the future at a predetermined price. The securities bought in mortgage-dollar-roll transactions are used to cover an open TBA sell position. The fund continues to earn interest on mortgage-backed security pools already held and receives a lower price on the securities to be sold in the future. The fund accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase the fund’s portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities Purchased in the Statement of Assets and Liabilities.

5. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (August 31, 2016–2019), and for the period ended February 29, 2020, and has concluded that no provision for federal income tax is required in the fund’s financial statements.

6. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

7. Credit Facility and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual

109

Mortgage-Backed Securities Index Fund

borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

8. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 29, 2020, the fund had contributed to Vanguard capital in the amount of $554,000, representing less than 0.01% of the fund’s net assets and 0.22% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

110

Mortgage-Backed Securities Index Fund

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.).

The following table summarizes the market value of the fund’s investments and derivatives as of February 29, 2020, based on the inputs used to value them:

	Level 1			Level 2			Level 3			Total
		($000	)		($000	)		($000	)		($000	)
Investments
Assets
U.S. Government and Agency Obligations		—			12,806,174			—			12,806,174
Temporary Cash Investments		1,264,804			—			—			1,264,804
Total		1,264,804			12,806,174			—			14,070,978
Derivative Financial Instruments
Liabilities
Futures Contracts¹		214			—			—			214

1 Represents variation margin on the last day of the reporting period.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000	)
Tax Cost		13,753,406
Gross Unrealized Appreciation		328,073
Gross Unrealized Depreciation		(10,691	)
Net Unrealized Appreciation (Depreciation)		317,382

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $11,768,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

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Mortgage-Backed Securities Index Fund

E. During the six months ended February 29, 2020, the fund purchased $13,647,146,000 of investment securities and sold $12,229,396,000 of investment securities, other than temporary cash investments. Purchases and sales include $34,914,000 and $0, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

F. Capital share transactions for each class of shares were:

	Six Months Ended									Year Ended
	February 29, 2020						August 31, 2019
	Amount			Shares			Amount			Shares
		($000	)		(000	)		($000	)		(000	)
ETF Shares
Issued		1,719,170			32,253			3,225,170			61,834
Issued in Lieu of Cash Distributions		—			—			—			—
Redeemed		(467,876	)		(8,750	)		(422,110	)		(8,150	)
Net Increase (Decrease)—ETF Shares		1,251,294			23,503			2,803,060			53,684
Admiral Shares
Issued		213,712			10,028			295,379			14,288
Issued in Lieu of Cash Distributions		6,695			314			13,356			644
Redeemed		(101,457	)		(4,761	)		(221,438	)		(10,709	)
Net Increase (Decrease)—Admiral Shares		118,950			5,581			87,297			4,223
Institutional Shares
Issued		37,971			1,317			53,939			1,914
Issued in Lieu of Cash Distributions		1,162			40			2,185			78
Redeemed		(5,397	)		(187	)		(10,794	)		(384	)
Net Increase (Decrease)—Institutional Shares		33,736			1,170			45,330			1,608

At February 29, 2020, one shareholder was the record or beneficial owner of 29% of the fund’s net assets. If this shareholder were to redeem its investment in the fund, the redemption might result in an increase in the fund’s expense ratio, cause the fund to incur higher transaction costs, or lead to the realization of taxable capital gains.

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

112

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(GRAPHIC)

Connect with Vanguard^® > vanguard.com

Fund Information > 800-662-7447

Direct Investor Account Services > 800-662-2739

Institutional Investor Services > 800-523-1036

Text Telephone for People

Who Are Deaf or Hard of Hearing > 800-749-7273

This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

	© 2020 The Vanguard Group, Inc.
	All rights reserved.
	U.S. Patent Nos. 6,879,964; 7,337,138;
	7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636.
	Vanguard Marketing Corporation, Distributor.

	Q16422 042020

Semiannual Report | February 29, 2020

Vanguard Total Corporate Bond ETF

See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Contents

About Your Fund’s Expenses	1
Financial Statements	4

About Your Fund’s Expenses

A typical fund’s expenses are expressed as a percentage of its average net assets. The Total Corporate Bond ETF has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets.

The following examples are intended to help you understand the ongoing cost (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using the acquired fund fees and expenses for the Total Corporate Bond ETF.

The accompanying table illustrates your fund’s costs in two ways:

Six Months Ended February 29, 2020

	Beginning	Ending	Expenses
	Account Value	Account Value	Paid During
Total Corporate Bond ETF	8/31/2019	2/29/2020	Period
Based on Actual Fund Return	$1,000.00	$1,041.14	$0.25
Based on Hypothetical 5% Yearly Return	1,000.00	1,024.61	0.25

The calculations are based on acquired fund fees and expenses charged by the underlying mutual funds in which the Total Corporate Bond ETF invests. The Total Corporate Bond ETF’s annualized expense figure for the period is 0.05%. The dollar amounts shown as “Expenses Paid” are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/366).

Total Corporate Bond ETF

Underlying Vanguard Funds

As of February 29, 2020

Vanguard Long-Term Corporate Bond ETF	36.2%
Vanguard Short-Term Corporate Bond ETF	34.1
Vanguard Intermediate-Term Corporate Bond ETF	29.7

The table reflects the fund’s investments, except for short-term investments and derivatives.

Total Corporate Bond ETF

Financial Statements (unaudited)

Schedule of Investments

As of February 29, 2020

		Market
		Value^*
	Shares	($000)
Investment Companies (100.0%)
U.S. Bond Funds (100.0%)
Vanguard Long-Term Corporate Bond ETF	1,380,820	146,850
Vanguard Short-Term Corporate Bond ETF	1,689,274	138,706
Vanguard Intermediate-Term Corporate Bond ETF	1,282,257	120,738
Total Investment Companies (Cost $386,397)		406,294
Temporary Cash Investment (0.0%)
Money Market Fund (0.0%)
¹ Vanguard Market Liquidity Fund, 1.706% (Cost $48)	482	48
Total Investments (100.0%) (Cost $386,445)		406,342
Other Assets and Liabilities—Net (0.0%)		(29)
Net Assets (100%)		406,313

Cost rounded to $000.

* See Note A in Notes to Financial Statements.

1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

Total Corporate Bond ETF

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value—Affiliated Funds (Cost $386,445)	406,342
Receivables for Investment Securities Sold	2,973
Total Assets	409,315
Liabilities
Payables for Investment Securities Purchased	3,002
Total Liabilities	3,002
Net Assets	406,313


At February 29, 2020, net assets consisted of:

Paid-in Capital	386,490
Total Distributable Earnings (Loss)	19,823
Net Assets	406,313

Net Assets
Applicable to 4,450,000 outstanding $.001 par value shares of beneficial
interest (unlimited authorization)	406,313
Net Asset Value Per Share	$91.31

See accompanying Notes, which are an integral part of the Financial Statements.

Total Corporate Bond ETF

Statement of Operations

	Six Months Ended
	February 29, 2020
	($000)
Investment Income
Income
Income Distributions Received from Affiliated Funds	4,569
Net Investment Income—Note B	4,569
Realized Net Gain (Loss) on Affiliated Funds Sold	(22)
Change in Unrealized Appreciation (Depreciation) from Affiliated Funds	10,274
Net Increase (Decrease) in Net Assets Resulting from Operations	14,821

See accompanying Notes, which are an integral part of the Financial Statements.

Total Corporate Bond ETF

Statement of Changes in Net Assets

	Six Months Ended	Year Ended
	February 29,	August 31,
	2020	2019
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	4,569	3,876
Realized Net Gain (Loss)	(22)	3,437
Change in Unrealized Appreciation (Depreciation)	10,274	11,001
Net Increase (Decrease) in Net Assets Resulting from Operations	14,821	18,314
Distributions¹	(4,624)	(3,825)
Capital Share Transactions
Issued	193,217	182,867
Issued in Lieu of Cash Distributions	—	—
Redeemed	—	(49,530)
Net Increase (Decrease) from Capital Share Transactions	193,217	133,337
Total Increase (Decrease)	203,414	147,826
Net Assets
Beginning of Period	202,899	55,073
End of Period	406,313	202,899

1 Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Total Corporate Bond ETF

Financial Highlights

	Six Months	Year	Nov. 7,
	Ended	Ended	2017¹to
	Feb. 29,	Aug. 31,	Aug. 31,
For a Share Outstanding Throughout Each Period	2020	2019	2018
Net Asset Value, Beginning of Period	$89.19	$81.59	$85.00
Investment Operations
Net Investment Income²	1.396	2.825	2.081
Capital Gain Distributions Received	—	—	—
Net Realized and Unrealized Gain (Loss) on Investments	2.220	7.717	(3.445)
Total from Investment Operations	3.616	10.542	(1.364)
Distributions
Dividends from Net Investment Income	(1.496)	(2.942)	(2.046)
Distributions from Realized Capital Gains	—	—	—
Total Distributions	(1.496)	(2.942)	(2.046)
Net Asset Value, End of Period	$91.31	$89.19	$81.59

Total Return	4.11%	13.29%	-1.60%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$406	$203	$55
Ratio of Total Expenses to Average Net Assets	—	—	—*
Acquired Fund Fees and Expenses	0.05%	0.05%	0.07%*
Ratio of Net Investment Income to Average Net Assets	3.15%	3.38%	3.10%*
Portfolio Turnover Rate³	6%	12%	4%

The expense ratio, acquired fund fees and expenses, and net investment income ratio for the current period have been annualized.

* Annualized.

	1	Inception.
	2	Calculated based on average shares outstanding.
	3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, included ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Total Corporate Bond ETF

Notes to Financial Statements

Vanguard Total Corporate Bond ETF is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund seeks to match the performance of its target index by investing in select bond index ETFs. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker. Financial statements and other information about each underlying fund are available on vanguard.com.

1. Security Valuation: Underlying ETFs are valued at the latest quoted sales prices or official closing prices taken from their primary market or, if not traded on the valuation date, at the mean of the latest quoted bid and asked prices. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (August 31, 2018–2019), and for the period ended February 29, 2020, and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Credit Facility and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and borne by the funds in which the fund invests (see Note B). Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Total Corporate Bond ETF

5. Other: Income and capital gain distributions received are recorded on the ex-dividend date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the fund and all other expenses incurred by the fund during the period ended February 29, 2020, were borne by the underlying Vanguard funds in which the fund invests. The fund’s trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.

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.).

At February 29, 2020, 100% of the market value of the fund’s investments was determined based on Level 1 inputs.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000)
Tax Cost	386,445
Gross Unrealized Appreciation	19,897
Gross Unrealized Depreciation	—
Net Unrealized Appreciation (Depreciation)	19,897

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2019, the fund had available capital losses totaling $64,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2020; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

Total Corporate Bond ETF

E. Capital shares issued and redeemed were:

	Six Months Ended	Year Ended
	February 29, 2020	August 31, 2019
	Shares	Shares
	(000)	(000)
Issued	2,175	2,175
Issued in Lieu of Cash Distributions	—	—
Redeemed	—	(575)
Net Increase (Decrease) in Shares Outstanding	2,175	1,600

F. Transactions during the period in affiliated underlying Vanguard funds were as follows:

					Current Period Transactions
	Aug. 31,		Proceeds	Realized				Feb. 29,
	2019		from	Net	Change in		Capital Gain	2020
	Market	Purchases	Securities	Gain	Unrealized	Distributions		Market
	Value	at Cost¹	Sold	(Loss)	App. (Dep.)	Income	Received	Value
	($000)	($000)	($000)	($000)	($000)	($000)	($000)	($000)
Vanguard
Intermediate-Term
Corporate Bond ETF	59,530	60,248	2,096	(5)	3,061	1,327	—	120,738
Vanguard Long-Term
Corporate Bond ETF	71,293	78,253	8,391	(12)	5,707	1,864	—	146,850
Vanguard Market
Liquidity Fund	27	NA²	NA²	—	—	—	—	48
Vanguard Short-Term
Corporate Bond ETF	72,064	73,959	8,818	(5)	1,506	1,378	—	138,706
Total	202,914	212,460	19,305	(22)	10,274	4,569	—	406,342

1	Includes $193,192,000 of portfolio securities received as a result of in-kind purchases of the fund’s capital shares.
2	Not applicable—purchases and sales are for temporary cash investment purposes.

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

This page intentionally left blank.



Connect with Vanguard^® > vanguard.com


Fund Information > 800-662-7447

Direct Investor Account Services > 800-662-2739

Institutional Investor Services > 800-523-1036
Text Telephone for People

Who Are Deaf or Hard of Hearing > 800-749-7273

This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.


You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.





	© 2020 The Vanguard Group, Inc. All rights reserved.
	Vanguard Marketing Corporation, Distributor.

	Q9852 042020

Semiannual Report | February 29, 2020

Vanguard Total World Bond ETF

See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Contents

About Your Fund’s Expenses	1

Financial Statements	4

About Your Fund’s Expenses

A typical fund’s expenses are expressed as a percentage of its average net assets. The Total World Bond ETF has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets.

The following examples are intended to help you understand the ongoing cost (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using expense ratio and the acquired fund fees and expenses for Total World Bond ETF.

The accompanying table illustrates your fund’s costs in two ways:

● Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

● Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Six Months Ended February 29, 2020

	Beginning		Ending		Expenses
	Account Value		Account Value		Paid During
Total World Bond ETF	8/31/2019		2/29/2020		Period
Based on Actual Fund Return	$	1,000.00	$	1,020.33	$	0.30
Based on Hypothetical 5% Yearly Return		1,000.00		1,024.56		0.30

The calculations are based on acquired fund fees and expenses charged by the underlying mutual funds in which the Total World Bond ETF invests. The Total World Bond ETF’s annualized expense figure for the period is 0.06%. The dollar amounts shown as ”Expenses Paid” are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/366).

Total World Bond ETF

Underlying Vanguard Funds

As of February 29, 2020

Vanguard Total International Bond ETF	50.5	%
Vanguard Total Bond Market ETF	49.5
The table reflects the fund’s investments, except for short-term investments and derivatives.

Total World Bond ETF

Financial Statements (unaudited)

Schedule of Investments

As of February 29, 2020

		Market
		Value^•
	Shares		($000)
Investment Companies (100.0%)
U.S. Bond Fund (49.5%)
Vanguard Total Bond Market ETF	1,845,731		160,136

International Bond Fund (50.5%)
Vanguard Total International Bond ETF	2,820,278		163,548
Total Investment Companies (Cost $311,332)			323,684
Temporary Cash Investment (0.0%)
Money Market Fund (0.0%)
¹ Vanguard Market Liquidity Fund, 1.706% (Cost $25)	253		25
Total Investments (100.0%) (Cost $311,357)			323,709
Other Assets and Liabilities—Net (0.0%)			(10	)
Net Assets (100%)			323,699

Cost rounded to $000.

•

See Note A in Notes to Financial Statements.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

Total World Bond ETF

Statement of Assets and Liabilities

As of February 29, 2020

($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value—Affiliated Funds (Cost $311,357)		323,709
Receivables for Investment Securities Sold		492
Total Assets		324,201
Liabilities
Due to Custodian		1
Payables for Investment Securities Purchased		501
Total Liabilities		502
Net Assets		323,699

At February 29, 2020, net assets consisted of:

Paid-in Capital		311,367
Total Distributable Earnings (Loss)		12,332
Net Assets		323,699

Net Assets
Applicable to 4,000,000 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)		323,699
Net Asset Value Per Share		$80.92

See accompanying Notes, which are an integral part of the Financial Statements.

Total World Bond ETF

Statement of Operations

	Six Months Ended
	February 29, 2020
		($000)
Investment Income
Income
Income Distributions Received from Affiliated Funds		4,973
Net Investment Income—Note B		4,973
Realized Net Gain (Loss) on Affiliated Funds Sold		(20	)
Change in Unrealized Appreciation (Depreciation) from Affiliated Funds		2,224
Net Increase (Decrease) in Net Assets Resulting from Operations		7,177

See accompanying Notes, which are an integral part of the Financial Statements.

Total World Bond ETF

Statement of Changes in Net Assets

				September 4,
	Six Months Ended			2018¹to
	February 29,			August 31,
	2020			2019
		($000)			($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income		4,973			2,431
Realized Net Gain (Loss)		(20	)		95
Change in Unrealized Appreciation (Depreciation)		2,224			10,128
Net Increase (Decrease) in Net Assets Resulting from Operations		7,177			12,654
Distributions²		(4,999	)		(2,405	)
Capital Share Transactions
Issued		161,605			151,614
Issued in Lieu of Cash Distributions		—			—
Redeemed		—			(1,947	)
Net Increase (Decrease) from Capital Share Transactions		161,605			149,667
Total Increase (Decrease)		163,783			159,916
Net Assets
Beginning of Period		159,916			—
End of Period		323,699			159,916

Inception.

Certain prior period numbers have been reclassified to conform with current period presentation.

See accompanying Notes, which are an integral part of the Financial Statements.

Total World Bond ETF

Financial Highlights

	Six Months			Sept. 4,
	Ended			2018¹to
	Feb. 29,			Aug. 31,
For a Share Outstanding Throughout Each Period	2020			2019
Net Asset Value, Beginning of Period		$80.97			$75.00
Investment Operations
Net Investment Income²		1.708			2.004
Capital Gain Distributions Received²		—			—
Net Realized and Unrealized Gain (Loss) on Investments		(.109	)		6.071
Total from Investment Operations		1.599			8.075
Distributions
Dividends from Net Investment Income		(1.649	)		(2.105	)
Distributions from Realized Capital Gains		—			—
Total Distributions		(1.649	)		(2.105	)
Net Asset Value, End of Period		$80.92			$80.97

Total Return		2.03%			11.00%

Ratios/Supplemental Data
Net Assets, End of Period (Millions)		$324			$160
Ratio of Total Expenses to Average Net Assets		—			—³
Acquired Fund Fees and Expenses		0.06%			0.06%³
Ratio of Net Investment Income to Average Net Assets		4.31%			2.62%³
Portfolio Turnover Rate⁴		4%			8%

The expense ratio, acquired fund fees and expenses, and net investment income ratio for the current period have been annualized.

Inception.

Calculated based on average shares outstanding.

Annualized.

Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Total World Bond ETF

Notes to Financial Statements

Vanguard Total World Bond ETF is registered under the Investment Company Act of 1940 as an open-end investment company. The fund seeks to match the performance of its target index by investing in select Vanguard bond index ETFs. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker. Financial statements and other information about each underlying fund are available on vanguard.com.

2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for its open federal income tax year ended August 31, 2019, and for the period ended February 29, 2020, and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Credit Facility and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and borne by the funds in which the fund invests (see Note B). Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

For the six months ended February 29, 2020, the fund did not utilize the credit facility or the Interfund Lending Program.

Total World Bond ETF

B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the fund and all other expenses incurred by the fund during the period ended February 29, 2020, were borne by the underlying Vanguard funds in which the fund invests. The fund’s trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.

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.).

At February 29, 2020, 100% of the market value of the fund’s investments was determined based on Level 1 inputs.

D. As of February 29, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

	Amount
		($000	)
Tax Cost		311,357
Gross Unrealized Appreciation		12,590
Gross Unrealized Depreciation		(238	)
Net Unrealized Appreciation (Depreciation)		12,352

Total World Bond ETF

E. Capital shares issued and redeemed were:

	Six Months Ended			September 4, 2018¹to
	February 29, 2020			August 31, 2019
		Shares			Shares
		(000	)		(000	)
Issued		2,025			2,000
Issued in Lieu of Cash Distributions		—			—
Redeemed		—			(25	)
Net Increase (Decrease) in Shares Outstanding		2,025			1,975

1 Inception.

F. Transactions during the period in affiliated underlying Vanguard funds were as follows:

			Current Period Transactions
	Aug. 31,				Proceeds		Realized										Feb. 29,
	2019				from		Net			Change in					Capital Gain		2020
	Market		Purchases		Securities		Gain			Unrealized					Distributions		Market
	Value		at Cost¹		Sold		(Loss)			App. (Dep.)			Income		Received		Value
		($000)		($000)		($000)		($000)			($000)			($000)		($000)		($000)
Vanguard Market
Liquidity Fund		13		NA²		NA²		—			—			—		—		25
Vanguard Total
Bond Market ETF		77,146		84,184		4,854		(11	)		3,671			1,404		—		160,136
Vanguard Total
International
Bond ETF		82,757		87,450		5,203		(9	)		(1,447	)		3,569		—		163,548
Total		159,916		171,634		10,057		(20	)		2,224			4,973		—		323,709

Includes $161,579,000 of portfolio securities received as a result of in-kind purchases of the fund’s capital shares.

Not applicable—purchases and sales are for temporary cash investment purposes.

Management has determined that no other events or transactions occurred subsequent to February 29, 2020, that would require recognition or disclosure in these financial statements.

This page intentionally left blank.

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		© 2020 The Vanguard Group, Inc.
		All rights reserved.
		Vanguard Marketing Corporation, Distributor.

		Q30612 042020

Item 2: Code of Ethics.

Not applicable.

Item 3: Audit Committee Financial Expert.

Not applicable.

Item 4: Principal Accountant Fees and Services.

(a) Audit Fees.

Not applicable.

Item 5: Audit Committee of Listed Registrants.

Not applicable.

Item 6: Investments.

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*Common Stocks (99.5%)*
*Consumer Discretionary (14.6%)*
*	Amazon.com Inc.	54,177	102,056
	Home Depot Inc.	144,367	31,449
	Walt Disney Co.	228,476	26,880
	Comcast Corp.	590,673	23,881
*	Netflix Inc.	55,252	20,390
	Walmart Inc.	184,194	19,834
	McDonald's Corp.	98,635	19,152
	Costco Wholesale Corp.	57,557	16,182
	NIKE Inc.	161,799	14,462
*	Tesla Inc.	18,929	12,644
	Starbucks Corp.	154,929	12,151
	Lowe's Cos. Inc.	101,409	10,807
*	Charter Communications Inc.	20,048	9,887
	TJX Cos. Inc.	159,748	9,553
*	Booking Holdings Inc.	5,490	9,309
	Target Corp.	65,113	6,707
	Estee Lauder Cos. Inc. Class A	28,448	5,223
	Dollar General Corp.	33,900	5,095
	Ross Stores Inc.	46,250	5,031
	General Motors Co.	161,928	4,939
	Marriott International Inc.	35,814	4,441
*	Uber Technologies Inc.	123,750	4,191
*	O'Reilly Automotive Inc.	9,734	3,589
	Ford Motor Co.	510,383	3,552
	Hilton Worldwide Holdings Inc.	36,342	3,532
	Yum! Brands Inc.	39,518	3,527
	eBay Inc.	100,756	3,490
*	Lululemon Athletica Inc.	15,384	3,345
*	AutoZone Inc.	3,097	3,198
	VF Corp.	40,106	2,888
	Aptiv plc	33,638	2,627
	Las Vegas Sands Corp.	44,428	2,591
*	Chipotle Mexican Grill Inc.	3,338	2,582
*	Dollar Tree Inc.	30,808	2,558
	DR Horton Inc.	43,774	2,332
	Best Buy Co. Inc.	29,832	2,257
	Lennar Corp. Class A	35,256	2,127
	Tiffany & Co.	15,859	2,119
*	Spotify Technology SA	15,284	2,096
	Yum China Holdings Inc.	47,242	2,069
	Omnicom Group Inc.	28,167	1,951
*	Ulta Beauty Inc.	7,364	1,893
*	CarMax Inc.	21,316	1,861
	Domino's Pizza Inc.	5,422	1,841
*	Burlington Stores Inc.	8,503	1,839
	Royal Caribbean Cruises Ltd.	22,368	1,799
	Expedia Group Inc.	18,085	1,784
	Carnival Corp.	52,227	1,748
	ViacomCBS Inc. Class B	70,379	1,732
	Garmin Ltd.	18,925	1,673
*	Liberty Broadband Corp. Class C	12,834	1,616
*	NVR Inc.	440	1,614
	Genuine Parts Co.	18,390	1,604
	MGM Resorts International	64,960	1,595
	Darden Restaurants Inc.	16,198	1,579
*	Trade Desk Inc.	5,133	1,474
	Fox Corp. Class A	47,617	1,464
	Tractor Supply Co.	15,607	1,381
	Wynn Resorts Ltd.	12,752	1,377
	PulteGroup Inc.	33,299	1,339
*	Roku Inc.	11,246	1,278

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Hasbro Inc.	16,384	1,266
*	Bright Horizons Family Solutions Inc.	7,603	1,195
*	LKQ Corp.	39,509	1,169
	Sirius XM Holdings Inc.	179,663	1,139
	Advance Auto Parts Inc.	8,525	1,134
	Fortune Brands Home & Security Inc.	18,291	1,129
	Vail Resorts Inc.	5,278	1,122
*	DISH Network Corp.	33,408	1,120
	Aramark	31,795	1,105
	Service Corp. International	23,087	1,103
	Interpublic Group of Cos. Inc.	51,032	1,090
	Pool Corp.	5,035	1,062
*	Live Nation Entertainment Inc.	16,887	1,026
	Whirlpool Corp.	8,004	1,023
*	Norwegian Cruise Line Holdings Ltd.	27,347	1,019
*	Altice USA Inc.	39,114	1,011
*	Liberty Media Corp-Liberty Formula One Class C	25,528	997
*	Caesars Entertainment Corp.	74,332	945
*	Lyft Inc. Class A	24,547	936
*	Mohawk Industries Inc.	7,595	920
	Cable One Inc.	580	912
*	Liberty Media Corp-Liberty SiriusXM Class C	20,394	910
*	WABCO Holdings Inc.	6,706	906
*	Discovery Communications Inc.	34,927	877
	Gentex Corp.	32,767	875
	Lear Corp.	7,811	869
*	Etsy Inc.	14,969	865
	Tapestry Inc.	36,625	859
	BorgWarner Inc.	27,037	854
	Nielsen Holdings plc	45,824	834
	Kohl's Corp.	20,973	821
	New York Times Co.	21,884	820
*	Discovery Inc.	30,319	779
	Newell Brands Inc.	50,416	778
*	IAA Inc.	17,279	738
*	Planet Fitness Inc.	10,900	736
	PVH Corp.	9,711	720
	Dunkin' Brands Group Inc.	10,584	704
*	Five Below Inc.	7,219	700
	Rollins Inc.	18,010	674
	Leggett & Platt Inc.	16,737	664
	Ralph Lauren Corp.	6,243	659
	Nexstar Media Group Inc.	5,697	655
*	Madison Square Garden Co.	2,426	650
	L Brands Inc.	29,672	643
	Polaris Inc.	7,735	638
	Toll Brothers Inc.	17,091	633
	Williams-Sonoma Inc.	10,141	633
	Harley-Davidson Inc.	20,406	622
	Wyndham Hotels & Resorts Inc.	12,201	622
	News Corp. Class A	51,480	622
*	ServiceMaster Global Holdings Inc.	17,363	621
	Hanesbrands Inc.	46,713	618
	Fox Corp. Class B	19,425	591
*	Skechers U.S.A. Inc.	17,617	583
	H&R Block Inc.	26,990	558
	Brunswick Corp.	10,449	556
	Macy's Inc.	39,714	525
	Thor Industries Inc.	6,951	524
	Carter's Inc.	5,730	524
*	Liberty Broadband Corp. Class A	4,187	518
^{^,*}	Mattel Inc.	43,922	518
	Foot Locker Inc.	14,216	515
*	Wayfair Inc.	8,115	513

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Grand Canyon Education Inc.	6,163	497
*	Liberty Media Corp-Liberty SiriusXM Class A	10,891	486
*	Capri Holdings Ltd.	18,618	481
	Nordstrom Inc.	13,760	477
*	Carvana Co.	5,712	474
*	frontdoor Inc.	10,899	462
	Wyndham Destinations Inc.	11,372	454
	Wendy's Co.	23,750	448
*	Floor & Decor Holdings Inc. Class A	8,723	445
*	Tempur Sealy International Inc.	5,855	438
	Gap Inc.	28,290	405
	Choice Hotels International Inc.	4,424	404
	Amerco	1,208	390
	Hyatt Hotels Corp.	4,676	358
	Cinemark Holdings Inc.	13,595	353
*	Under Armour Inc. Class A	24,642	350
	Coty Inc.	36,649	338
*	Qurate Retail Group Inc. QVC Group Class A	48,835	333
*	Ollie's Bargain Outlet Holdings Inc.	6,520	332
	TripAdvisor Inc.	13,718	322
*	Under Armour Inc. Class C	25,275	315
	KAR Auction Services Inc.	16,375	315
	Columbia Sportswear Co.	3,831	311
	Dick's Sporting Goods Inc.	8,513	310
*	AutoNation Inc.	7,138	305
*	Hilton Grand Vacations Inc.	11,401	304
	Goodyear Tire & Rubber Co.	30,062	291
	World Wrestling Entertainment Inc.	6,111	286
	Graham Holdings Co.	544	274
	Extended Stay America Inc.	24,511	269
	Six Flags Entertainment Corp.	10,095	255
	Penske Automotive Group Inc.	4,760	219
*	Urban Outfitters Inc.	8,420	198
	John Wiley & Sons Inc.	5,229	194
	Sinclair Broadcast Group Inc.	7,613	177
*	2U Inc.	7,482	176
*	AMC Networks Inc.	5,576	173
	News Corp. Class B	13,568	169
	International Game Technology plc	14,177	151
*	Liberty Media Corp-Liberty Formula One Class A	3,977	149
	Lennar Corp.	3,001	143
*	Lions Gate Entertainment Corp. Class B	13,559	100
	ViacomCBS Inc. Class A	2,659	80
*	Lions Gate Entertainment Corp. Class A	5,847	46
			*524,589*
*Consumer Staples (6.0%)*
	Procter & Gamble Co.	323,536	36,634
	Coca-Cola Co.	502,160	26,861
	PepsiCo Inc.	183,528	24,231
	Philip Morris International Inc.	203,476	16,659
	CVS Health Corp.	170,172	10,071
	Altria Group Inc.	245,263	9,901
	Mondelez International Inc.	186,260	9,835
	Colgate-Palmolive Co.	110,348	7,456
	Kimberly-Clark Corp.	44,560	5,846
	Walgreens Boots Alliance Inc.	98,419	4,504
	Sysco Corp.	62,278	4,151
	General Mills Inc.	78,133	3,829
	Constellation Brands Inc. Class A	20,692	3,567
	McKesson Corp.	23,523	3,290
*	Monster Beverage Corp.	49,874	3,113
	Kroger Co.	103,773	2,919
	Archer-Daniels-Midland Co.	72,603	2,733
	Hershey Co.	18,828	2,711

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Corteva Inc.	97,940	2,664
	Clorox Co.	16,415	2,617
	Tyson Foods Inc.	37,533	2,546
	McCormick & Co. Inc.	16,006	2,340
	Church & Dwight Co. Inc.	32,109	2,232
	Kraft Heinz Co.	81,477	2,018
	Kellogg Co.	32,434	1,961
	Conagra Brands Inc.	62,912	1,679
	Lamb Weston Holdings Inc.	19,052	1,655
	Hormel Foods Corp.	36,210	1,506
	JM Smucker Co.	14,488	1,492
	Brown-Forman Corp.	23,669	1,454
	Molson Coors Beverage Co. Class B	22,795	1,131
	Campbell Soup Co.	22,081	996
*	US Foods Holding Corp.	28,611	962
	Bunge Ltd.	18,123	851
*	Post Holdings Inc.	8,339	844
	Casey's General Stores Inc.	4,786	780
*	Keurig Dr Pepper Inc.	27,244	760
	Ingredion Inc.	8,701	725
*	Beyond Meat Inc.	6,311	566
	Flowers Foods Inc.	24,656	531
*	Herbalife Nutrition Ltd.	12,957	419
	Energizer Holdings Inc.	8,122	349
	Spectrum Brands Holdings Inc	5,791	312
*	TreeHouse Foods Inc.	7,550	288
*	Hain Celestial Group Inc.	10,977	260
	Brown-Forman Corp. Class A	4,347	255
*	Sprouts Farmers Market Inc.	15,466	247
	Grocery Outlet Holding Corp.	6,812	216
	Nu Skin Enterprises Inc.	7,275	178
*	Pilgrim's Pride Corp.	7,614	161
	Seaboard Corp.	32	109
			*213,415*
*Energy (3.4%)*
	Exxon Mobil Corp.	554,432	28,520
	Chevron Corp.	249,905	23,326
	ConocoPhillips	144,564	7,000
	Kinder Morgan Inc.	256,875	4,924
	Schlumberger Ltd.	180,848	4,899
	EOG Resources Inc.	75,809	4,796
	Phillips 66	58,593	4,386
	Marathon Petroleum Corp.	84,031	3,985
	Occidental Petroleum Corp.	116,935	3,828
	ONEOK Inc.	53,691	3,582
	Valero Energy Corp.	53,541	3,547
	Williams Cos. Inc.	158,468	3,019
	Pioneer Natural Resources Co.	21,502	2,640
	Hess Corp.	35,093	1,972
	Halliburton Co.	113,530	1,925
	Concho Resources Inc.	25,957	1,766
*	Cheniere Energy Inc.	29,924	1,535
	Baker Hughes Co.	84,665	1,362
	Diamondback Energy Inc.	21,061	1,306
	Apache Corp.	48,477	1,208
	Noble Energy Inc.	61,669	976
	Targa Resources Corp.	29,719	963
	National Oilwell Varco Inc.	50,864	952
	Marathon Oil Corp.	112,071	928
	Devon Energy Corp.	49,475	803
	Cabot Oil & Gas Corp.	51,177	713
	HollyFrontier Corp.	19,691	663
	Parsley Energy Inc.	39,529	530
	Helmerich & Payne Inc.	13,950	515

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	WPX Energy Inc.	53,529	499
*	First Solar Inc.	10,768	493
	Valvoline Inc.	23,803	464
	Cimarex Energy Co.	12,923	427
	Murphy Oil Corp.	19,594	369
	PBF Energy Inc.	15,851	355
*	Transocean Ltd.	75,032	251
	Continental Resources Inc.	10,524	199
*	Apergy Corp.	10,416	194
	EQT Corp.	31,959	188
	Equitrans Midstream Corp.	26,148	185
	Antero Midstream Corp.	35,323	154
	Patterson-UTI Energy Inc.	24,984	143
	Kosmos Energy Ltd.	46,140	141
	Range Resources Corp.	26,329	73
*	Antero Resources Corp.	36,500	58
*	Centennial Resource Development Inc.	22,995	55
*	Chesapeake Energy Corp.	165,983	46
			*120,863*
*Financial Services (20.1%)*
*	Berkshire Hathaway Inc.	255,901	52,803
	JPMorgan Chase & Co.	408,221	47,399
	Visa Inc.	224,377	40,783
	Mastercard Inc.	116,164	33,717
	Bank of America Corp.	1,066,379	30,392
	Wells Fargo & Co.	498,771	20,375
	Citigroup Inc.	286,274	18,167
*	PayPal Holdings Inc.	154,137	16,645
	American Tower Corp.	57,564	13,055
	Fidelity National Information Services Inc.	80,051	11,185
	American Express Co.	88,048	9,679
	CME Group Inc.	46,449	9,235
	US Bancorp	186,888	8,679
	S&P Global Inc.	32,262	8,579
	Chubb Ltd.	59,113	8,573
	Goldman Sachs Group Inc.	41,936	8,419
	Prologis Inc.	96,298	8,116
*	Fiserv Inc.	73,998	8,092
	Truist Financial Corp.	174,812	8,066
	Crown Castle International Corp.	54,413	7,797
	PNC Financial Services Group Inc.	57,157	7,225
	BlackRock Inc.	15,562	7,205
	Global Payments Inc.	38,902	7,157
	Marsh & McLennan Cos. Inc.	66,551	6,959
	Morgan Stanley	153,818	6,926
	Intercontinental Exchange Inc.	71,760	6,402
	Equinix Inc.	11,166	6,396
	Aon plc	30,746	6,395
	Charles Schwab Corp.	150,054	6,115
	Progressive Corp.	76,110	5,568
	Capital One Financial Corp.	61,035	5,387
	Moody's Corp.	21,453	5,149
	Simon Property Group Inc.	40,130	4,939
	American International Group Inc.	113,663	4,792
	Allstate Corp.	42,213	4,443
	MetLife Inc.	101,444	4,334
	Bank of New York Mellon Corp.	107,130	4,274
	Aflac Inc.	94,823	4,063
	Public Storage	19,338	4,044
	Travelers Cos. Inc.	33,677	4,035
	Prudential Financial Inc.	52,919	3,993
	Welltower Inc.	52,958	3,962
	SBA Communications Corp.	14,647	3,883
*	Square Inc.	44,839	3,736

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	AvalonBay Communities Inc.	18,214	3,654
	Equity Residential	47,870	3,595
	T. Rowe Price Group Inc.	29,731	3,509
	Digital Realty Trust Inc.	27,126	3,258
	State Street Corp.	47,366	3,226
	Willis Towers Watson plc	16,828	3,185
	MSCI Inc.	10,738	3,172
	Realty Income Corp.	42,540	3,079
*	FleetCor Technologies Inc.	11,118	2,955
	Discover Financial Services	40,844	2,679
	Ventas Inc.	48,636	2,615
	Boston Properties Inc.	20,208	2,606
	Weyerhaeuser Co.	97,193	2,525
	Synchrony Financial	84,211	2,451
*	CBRE Group Inc.	43,405	2,437
	Essex Property Trust Inc.	8,553	2,424
	M&T Bank Corp.	17,186	2,413
	Hartford Financial Services Group Inc.	46,979	2,347
	Arthur J Gallagher & Co.	23,996	2,339
	Ameriprise Financial Inc.	16,506	2,332
	Fifth Third Bancorp	92,472	2,256
	Alexandria Real Estate Equities Inc.	14,786	2,246
	Equifax Inc.	15,703	2,230
	Northern Trust Corp.	25,414	2,230
	First Republic Bank	21,709	2,183
	TransUnion	24,401	2,170
*	Markel Corp.	1,787	2,111
	KeyCorp	127,846	2,090
*	Arch Capital Group Ltd.	50,559	2,044
	Healthpeak Properties Inc.	64,277	2,034
	Invitation Homes Inc.	69,129	1,983
	Mid-America Apartment Communities Inc.	14,913	1,928
	Cincinnati Financial Corp.	20,036	1,868
	Sun Communities Inc.	12,138	1,856
	Citizens Financial Group Inc.	56,637	1,795
	UDR Inc.	38,118	1,715
	WP Carey Inc.	22,146	1,714
	Regions Financial Corp.	125,759	1,700
	Annaly Capital Management Inc.	188,739	1,672
	Cboe Global Markets Inc.	14,547	1,658
	Extra Space Storage Inc.	16,367	1,643
	Huntington Bancshares Inc.	132,773	1,629
	Principal Financial Group Inc.	36,007	1,598
	Broadridge Financial Solutions Inc.	14,833	1,548
	Nasdaq Inc.	15,053	1,544
	Equity LifeStyle Properties Inc.	22,591	1,544
	MarketAxess Holdings Inc.	4,758	1,543
	Loews Corp.	33,795	1,542
	Duke Realty Corp.	47,292	1,536
	Jack Henry & Associates Inc.	10,012	1,519
	VICI Properties Inc.	60,026	1,504
*	SVB Financial Group	7,107	1,479
	TD Ameritrade Holding Corp.	34,653	1,463
	Medical Properties Trust Inc.	66,219	1,399
*	Fair Isaac Corp.	3,692	1,388
	Raymond James Financial Inc.	16,237	1,358
	Fidelity National Financial Inc.	34,638	1,343
	E*TRADE Financial Corp.	29,285	1,341
	Host Hotels & Resorts Inc.	92,480	1,339
	Brown & Brown Inc.	30,758	1,323
	Everest Re Group Ltd.	5,301	1,314
	FactSet Research Systems Inc.	4,904	1,304
	Camden Property Trust	12,236	1,297
	Globe Life Inc.	13,797	1,278

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	AGNC Investment Corp.	74,567	1,271
	WR Berkley Corp.	18,891	1,268
	Regency Centers Corp.	21,779	1,251
	Ally Financial Inc.	49,102	1,231
*	Alleghany Corp.	1,827	1,228
	Western Union Co.	54,309	1,216
	Vornado Realty Trust	22,646	1,213
	VEREIT Inc.	139,405	1,207
	Federal Realty Investment Trust	10,295	1,198
	Lincoln National Corp.	26,183	1,188
	Gaming and Leisure Properties Inc.	26,278	1,174
*	Equitable Holdings Inc.	54,511	1,167
	National Retail Properties Inc.	22,521	1,145
	Iron Mountain Inc.	37,480	1,140
	Omega Healthcare Investors Inc.	28,040	1,110
*	WEX Inc.	5,664	1,061
	Reinsurance Group of America Inc.	8,231	1,004
	Jones Lang LaSalle Inc.	6,782	1,002
	Kilroy Realty Corp.	13,521	983
	RenaissanceRe Holdings Ltd.	5,734	977
	Comerica Inc.	18,456	972
	Assurant Inc.	7,893	952
	Lamar Advertising Co.	11,198	938
	Apartment Investment & Management Co.	19,467	931
	Voya Financial Inc.	17,513	922
	SEI Investments Co.	16,774	918
	STORE Capital Corp.	27,653	909
*	Zillow Group Inc. Class C	16,276	908
	Kimco Realty Corp.	52,341	908
	CyrusOne Inc.	14,686	890
	American Financial Group Inc.	9,530	881
	American Homes 4 Rent	33,340	863
	Zions Bancorp NA	21,528	860
	Signature Bank	6,862	858
	New Residential Investment Corp.	54,893	854
	Healthcare Trust of America Inc.	26,931	839
	LPL Financial Holdings Inc.	10,501	835
	Douglas Emmett Inc.	21,809	833
	First American Financial Corp.	14,566	832
*	Euronet Worldwide Inc.	6,632	823
	People's United Financial Inc.	58,575	819
	Commerce Bancshares Inc.	13,149	803
	SL Green Realty Corp.	10,223	802
	Starwood Property Trust Inc.	35,897	796
	Prosperity Bancshares Inc.	12,134	784
	Americold Realty Trust	25,255	775
	Franklin Resources Inc.	35,485	772
	American Campus Communities Inc.	17,563	763
	CubeSmart	25,018	757
*	Athene Holding Ltd. Class A	18,339	756
	Old Republic International Corp.	36,956	729
	East West Bancorp Inc.	18,547	718
	Brixmor Property Group Inc.	39,192	714
	TCF Financial Corp.	19,473	710
	Invesco Ltd.	48,674	701
	Jefferies Financial Group Inc.	35,103	692
	Cousins Properties Inc.	19,374	691
	Life Storage Inc.	6,125	661
	Popular Inc.	13,633	654
	Unum Group	27,342	637
	Hudson Pacific Properties Inc.	19,372	625
	New York Community Bancorp Inc.	57,517	622
	Axis Capital Holdings Ltd.	10,830	608
	EPR Properties	10,056	596

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Hanover Insurance Group Inc.	5,022	595
	Primerica Inc.	5,337	594
	Spirit Realty Capital Inc.	13,020	592
	Cullen/Frost Bankers Inc.	7,528	590
	Highwoods Properties Inc.	13,022	584
	Eaton Vance Corp.	14,146	584
	Western Alliance Bancorp	12,546	578
	SLM Corp.	55,486	575
	Park Hotels & Resorts Inc.	31,301	572
	JBG SMITH Properties	15,540	570
	Kemper Corp.	8,262	569
*	Howard Hughes Corp.	5,232	564
*	Credit Acceptance Corp.	1,386	559
	First Horizon National Corp.	40,914	545
	MGIC Investment Corp.	44,720	538
	Legg Mason Inc.	10,697	533
	Pinnacle Financial Partners Inc.	10,045	529
	Sterling Bancorp	31,472	522
	Synovus Financial Corp.	17,838	518
*	Brighthouse Financial Inc.	14,275	512
	Assured Guaranty Ltd.	12,283	501
	Affiliated Managers Group Inc.	6,628	499
	PacWest Bancorp	15,655	495
	CoreSite Realty Corp.	4,755	493
	Equity Commonwealth	15,646	492
	Outfront Media Inc.	18,620	490
	Chimera Investment Corp.	24,742	486
	Lazard Ltd.	13,555	486
	Interactive Brokers Group Inc.	9,471	484
	CIT Group Inc.	12,131	482
	Erie Indemnity Co.	3,303	472
	Webster Financial Corp.	12,358	469
	Two Harbors Investment Corp.	34,179	463
	CoreLogic Inc.	9,981	453
	Alliance Data Systems Corp.	5,230	449
	Janus Henderson Group plc	20,740	440
	Rayonier Inc.	16,509	438
	FNB Corp.	43,088	435
	Umpqua Holdings Corp.	28,219	434
	First Citizens BancShares Inc.	946	429
*	Zillow Group Inc. Class A	7,638	425
	Weingarten Realty Investors	15,637	421
	MFA Financial Inc.	58,174	421
	First Hawaiian Inc.	17,188	412
	Bank OZK	15,886	403
	Taubman Centers Inc.	7,667	399
	Bank of Hawaii Corp.	5,295	394
	Wintrust Financial Corp.	7,273	388
	Morningstar Inc.	2,643	388
	White Mountains Insurance Group Ltd.	391	387
	Macerich Co.	18,559	379
	Corporate Office Properties Trust	14,916	378
	BankUnited Inc.	12,562	373
	Service Properties Trust	20,450	370
	Apple Hospitality REIT Inc.	27,542	360
	Evercore Inc.	5,118	341
	Associated Banc-Corp	19,833	336
^{^}	Santander Consumer USA Holdings Inc.	13,379	326
	Brandywine Realty Trust	23,705	322
	Paramount Group Inc.	25,747	313
	Retail Properties of America Inc.	28,602	299
	OneMain Holdings Inc	8,138	299
	Navient Corp.	26,607	299
*	Texas Capital Bancshares Inc.	6,289	296

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	BOK Financial Corp.	4,057	294
	Columbia Property Trust Inc.	15,362	290
*	LendingTree Inc.	992	274
	Colony Capital Inc.	63,725	252
	Empire State Realty Trust Inc.	18,618	218
	SITE Centers Corp.	18,436	212
	BGC Partners Inc.	38,144	178
	CNA Financial Corp.	3,933	164
	Mercury General Corp.	3,635	157
	Brookfield Property REIT Inc. Class A	9,629	157
	Virtu Financial Inc.	7,333	138
	TFS Financial Corp.	5,473	112
	American National Insurance Co.	919	90
			*718,021*
*Health Care (13.2%)*
	Johnson & Johnson	347,843	46,778
	UnitedHealth Group Inc.	123,731	31,546
	Merck & Co. Inc.	333,425	25,527
	Pfizer Inc.	728,675	24,352
	Bristol-Myers Squibb Co.	306,501	18,102
	Medtronic plc	175,666	17,684
	Abbott Laboratories	225,745	17,389
	AbbVie Inc.	193,897	16,619
	Amgen Inc.	78,565	15,692
	Thermo Fisher Scientific Inc.	52,299	15,209
	Eli Lilly & Co.	111,457	14,058
	Danaher Corp.	80,884	11,694
	Gilead Sciences Inc.	167,490	11,617
	Cigna Corp.	48,220	8,821
	Stryker Corp.	45,019	8,580
	Anthem Inc.	33,279	8,556
	Zoetis Inc.	62,835	8,372
	Becton Dickinson and Co.	35,151	8,360
	Allergan plc	43,040	8,206
*	Intuitive Surgical Inc.	15,054	8,038
*	Vertex Pharmaceuticals Inc.	33,474	7,499
*	Biogen Inc.	23,509	7,250
*	Boston Scientific Corp.	181,363	6,781
*	Edwards Lifesciences Corp.	27,103	5,552
	Humana Inc.	17,275	5,522
	Baxter International Inc.	63,016	5,260
*	Illumina Inc.	19,161	5,091
*	Regeneron Pharmaceuticals Inc.	10,672	4,744
	HCA Healthcare Inc.	35,380	4,494
*	Centene Corp.	75,473	4,002
	Zimmer Biomet Holdings Inc.	26,782	3,646
*	DexCom Inc.	11,815	3,261
*	IQVIA Holdings Inc.	23,048	3,215
	Agilent Technologies Inc.	40,448	3,117
	ResMed Inc.	18,530	2,946
	Cerner Corp.	40,776	2,825
*	IDEXX Laboratories Inc.	11,085	2,821
*	Alexion Pharmaceuticals Inc.	27,783	2,612
*	Veeva Systems Inc.	17,100	2,428
*	Align Technology Inc.	10,172	2,221
*	Laboratory Corp. of America Holdings	12,635	2,220
*	BioMarin Pharmaceutical Inc.	23,102	2,088
	Cooper Cos. Inc.	6,355	2,063
	Teleflex Inc.	6,024	2,018
	Cardinal Health Inc.	38,216	1,992
	Quest Diagnostics Inc.	17,600	1,867
	STERIS plc	11,129	1,765
*	Incyte Corp.	23,179	1,748
*	Seattle Genetics Inc.	14,857	1,692

Vanguard^®Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	AmerisourceBergen Corp. Class A	19,971	1,684
*	Hologic Inc.	34,798	1,640
*	Alnylam Pharmaceuticals Inc.	13,818	1,626
*	Exact Sciences Corp.	18,349	1,485
*	Insulet Corp.	7,761	1,474
*	Varian Medical Systems Inc.	11,871	1,460
	West Pharmaceutical Services Inc.	9,579	1,442
	Dentsply Sirona Inc.	28,921	1,424
*	Elanco Animal Health Inc.	51,342	1,407
	Universal Health Services Inc.	10,227	1,266
	PerkinElmer Inc.	14,449	1,249
*	Henry Schein Inc.	19,449	1,185
*	Mylan NV	67,428	1,159
*	Neurocrine Biosciences Inc.	11,924	1,129
*	Sarepta Therapeutics Inc.	9,371	1,073
*	Qiagen NV	29,029	1,042
*	Catalent Inc.	19,788	1,020
*	Charles River Laboratories International Inc.	6,539	1,017
*	Molina Healthcare Inc.	8,245	1,010
*	Masimo Corp.	6,106	997
*	DaVita Inc.	12,729	988
*	Bio-Rad Laboratories Inc.	2,733	962
	Encompass Health Corp.	12,680	949
	Bio-Techne Corp.	4,947	934
*	ABIOMED Inc.	5,839	877
	Chemed Corp.	2,072	865
	Hill-Rom Holdings Inc.	8,883	853
*	Horizon Therapeutics plc	24,546	840
*	Jazz Pharmaceuticals plc	7,313	838
*	Ionis Pharmaceuticals Inc.	16,448	835
	Perrigo Co. plc	16,206	821
*	PRA Health Sciences Inc.	8,322	784
*	Exelixis Inc.	40,081	745
*	Moderna Inc.	28,283	733
*	Penumbra Inc.	4,067	675
	Avantor Inc.	41,937	661
	Bruker Corp.	13,278	578
*	United Therapeutics Corp.	5,448	561
*	Bluebird Bio Inc.	7,390	535
*	ICU Medical Inc.	2,431	476
*	Envista Holdings Corp.	18,502	470
*	Integra LifeSciences Holdings Corp.	8,974	468
*	Nektar Therapeutics Class A	21,359	444
*	Guardant Health Inc.	4,828	420
*	Alkermes plc	19,868	414
*	Agios Pharmaceuticals Inc.	8,075	383
*	Acadia Healthcare Co. Inc.	11,145	330
*	Sage Therapeutics Inc.	6,714	316
	Cantel Medical Corp.	4,874	308
*	Premier Inc.	8,260	243
*	MEDNAX Inc.	10,353	177
^{^,*}	Change Healthcare Inc.	6,632	90
*	Adaptive Biotechnologies Corp.	2,218	62
*	Quorum Health Corp.	35	—
			*473,364*
*Materials & Processing (2.9%)*
	Linde plc	70,448	13,456
	Air Products & Chemicals Inc.	28,741	6,312
	Ecolab Inc.	33,202	5,991
	Sherwin-Williams Co.	10,829	5,596
	Newmont Corp.	106,672	4,761
	DuPont de Nemours Inc.	96,888	4,156
	Ingersoll-Rand plc	31,446	4,058
	Dow Inc.	97,817	3,953

Vanguard^® Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	PPG Industries Inc.	30,802	3,217
	Ball Corp.	42,191	2,973
	Fastenal Co.	74,613	2,553
	LyondellBasell Industries NV	34,697	2,479
	Vulcan Materials Co.	17,172	2,065
	Freeport-McMoRan Inc.	190,718	1,900
	International Paper Co.	51,314	1,897
	Martin Marietta Materials Inc.	8,154	1,855
	International Flavors & Fragrances Inc.	14,012	1,678
	Nucor Corp.	39,696	1,641
	FMC Corp.	16,726	1,557
	Masco Corp.	37,157	1,535
	Arconic Inc.	50,656	1,487
	Celanese Corp.	15,721	1,474
	Avery Dennison Corp.	11,068	1,267
*	Crown Holdings Inc.	17,305	1,220
	Albemarle Corp.	13,704	1,122
	Packaging Corp. of America	12,311	1,116
	Westrock Co.	33,359	1,109
	Eastman Chemical Co.	17,818	1,096
	RPM International Inc.	16,788	1,076
	CF Industries Holdings Inc.	28,829	1,063
	Lennox International Inc.	4,549	1,038
	Reliance Steel & Aluminum Co.	8,513	871
	AptarGroup Inc.	8,366	846
	Royal Gold Inc.	8,512	821
	Owens Corning	14,131	798
	Mosaic Co.	44,803	763
	MDU Resources Group Inc.	26,525	736
	Steel Dynamics Inc.	26,959	718
	Hexcel Corp.	10,980	710
	AO Smith Corp.	17,773	703
*	Axalta Coating Systems Ltd.	27,198	678
	Watsco Inc.	4,201	659
	Armstrong World Industries Inc.	6,519	653
*	Berry Global Group Inc.	16,840	639
	Sonoco Products Co.	13,100	632
	Sealed Air Corp.	20,178	612
	Ashland Global Holdings Inc.	7,815	559
	Scotts Miracle-Gro Co.	5,140	545
	Acuity Brands Inc.	5,140	529
	Huntsman Corp.	27,424	519
	Graphic Packaging Holding Co.	38,058	515
	Eagle Materials Inc.	5,259	415
	WR Grace & Co.	7,196	407
	Timken Co.	8,661	388
*	Univar Solutions Inc.	22,496	382
	Southern Copper Corp.	10,708	360
	NewMarket Corp.	879	342
	Olin Corp.	20,940	339
	Chemours Co.	22,315	332
*	Alcoa Corp.	23,901	331
	Valmont Industries Inc.	2,759	321
	Silgan Holdings Inc.	10,386	297
*	Element Solutions Inc.	28,414	295
	Cabot Corp.	7,687	287
	Westlake Chemical Corp.	4,656	260
	O-I Glass Inc.	20,728	224
	Domtar Corp.	6,992	201
	United States Steel Corp.	21,383	171
	GrafTech International Ltd.	7,039	57
	Ardagh Group SA	2,039	36
			*105,652*

Vanguard^® Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
Producer Durables (9.3%)
	Boeing Co.	69,354	19,080
	Honeywell International Inc.	94,695	15,357
	Accenture plc Class A	83,436	15,068
	Union Pacific Corp.	91,193	14,574
	United Technologies Corp.	106,330	13,886
	General Electric Co.	1,134,514	12,343
	Lockheed Martin Corp.	32,389	11,980
	3M Co.	73,508	10,970
	Automatic Data Processing Inc.	57,115	8,838
	Caterpillar Inc.	70,741	8,789
	United Parcel Service Inc.	91,625	8,291
	Illinois Tool Works Inc.	42,209	7,082
	Raytheon Co.	36,709	6,922
	CSX Corp.	98,224	6,920
	Northrop Grumman Corp.	20,783	6,834
	Deere & Co.	41,093	6,430
	Norfolk Southern Corp.	34,035	6,206
	Waste Management Inc.	55,534	6,154
	General Dynamics Corp.	33,285	5,315
	Emerson Electric Co.	79,929	5,124
	Eaton Corp. plc	53,869	4,887
	Roper Technologies Inc.	13,369	4,702
	FedEx Corp.	31,469	4,442
	Johnson Controls International plc	101,534	3,713
	TransDigm Group Inc.	6,423	3,583
	Delta Air Lines Inc.	75,088	3,464
	Paychex Inc.	41,863	3,244
	Verisk Analytics Inc.	20,828	3,231
*	CoStar Group Inc.	4,697	3,136
	Parker-Hannifin Corp.	16,720	3,089
	PACCAR Inc.	44,298	2,964
	Cummins Inc.	19,521	2,953
	Cintas Corp.	10,928	2,915
	Southwest Airlines Co.	61,719	2,851
	Stanley Black & Decker Inc.	19,779	2,842
	Rockwell Automation Inc.	15,015	2,755
	Fortive Corp.	38,589	2,669
	AMETEK Inc.	29,656	2,550
	Republic Services Inc.	27,894	2,518
*	Keysight Technologies Inc.	24,360	2,308
*	Copart Inc.	26,233	2,216
*	Mettler-Toledo International Inc.	3,132	2,198
	Dover Corp.	18,941	1,946
	Kansas City Southern	12,879	1,941
*	United Airlines Holdings Inc.	30,208	1,860
	Xylem Inc.	23,413	1,811
	Old Dominion Freight Line Inc.	8,506	1,648
*	Waters Corp.	8,297	1,617
	Westinghouse Air Brake Technologies Corp.	23,441	1,610
	Jacobs Engineering Group Inc.	17,268	1,594
*	Teledyne Technologies Inc.	4,674	1,577
	Expeditors International of Washington Inc.	22,318	1,572
	WW Grainger Inc.	5,631	1,563
*	Zebra Technologies Corp.	6,909	1,458
	IDEX Corp.	9,798	1,450
	Allegion plc	12,180	1,401
*	United Rentals Inc.	9,935	1,316
*	Trimble Inc.	32,708	1,291
	Booz Allen Hamilton Holding Corp.	17,670	1,260
	Textron Inc.	30,284	1,230
	CH Robinson Worldwide Inc.	17,810	1,227
	Nordson Corp.	7,483	1,087
	JB Hunt Transport Services Inc.	11,169	1,077

Vanguard^® Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Carlisle Cos. Inc.	7,360	1,069
	Huntington Ingalls Industries Inc.	5,176	1,064
	Graco Inc.	21,318	1,051
	Snap-on Inc.	7,026	1,017
	Toro Co.	13,773	984
	American Airlines Group Inc.	50,722	966
	Genpact Ltd.	24,613	947
	Hubbell Inc.	7,034	937
*	Aecom	20,519	922
*	XPO Logistics Inc.	12,106	895
	HEICO Corp. Class A	9,951	879
	Pentair plc	21,572	850
*	Sensata Technologies Holding plc	20,713	845
*	Middleby Corp.	7,339	821
*	HD Supply Holdings Inc.	21,564	820
	Alaska Air Group Inc.	15,802	797
	Xerox Holdings Corp.	23,724	764
	Robert Half International Inc.	15,008	757
	Woodward Inc.	7,312	755
	Donaldson Co. Inc.	16,583	748
	FLIR Systems Inc.	17,457	741
	Spirit AeroSystems Holdings Inc.	13,292	702
	National Instruments Corp.	17,403	701
	Quanta Services Inc.	18,275	697
	ITT Inc.	11,581	697
*	Stericycle Inc.	11,970	687
	Flowserve Corp.	16,864	678
	BWX Technologies Inc.	12,349	677
	Curtiss-Wright Corp.	5,503	660
	Lincoln Electric Holdings Inc.	7,769	636
	Oshkosh Corp.	8,716	629
*	Paylocity Holding Corp.	4,586	594
*	JetBlue Airways Corp.	37,639	594
	ManpowerGroup Inc.	7,709	585
	Allison Transmission Holdings Inc.	13,811	561
*	Gardner Denver Holdings Inc.	16,772	550
	HEICO Corp.	5,094	549
	Knight-Swift Transportation Holdings Inc.	16,061	513
	Landstar System Inc.	5,049	510
	Air Lease Corp.	13,261	509
	Littelfuse Inc.	3,173	507
*	Kirby Corp.	7,826	499
	AGCO Corp.	8,156	493
*	Clean Harbors Inc.	6,618	460
	nVent Electric plc	18,997	456
	Crane Co.	6,472	440
	Regal Beloit Corp.	5,530	429
*	Colfax Corp.	11,757	393
	Macquarie Infrastructure Corp.	9,267	364
	MSC Industrial Direct Co. Inc. Class A	5,684	351
	Copa Holdings SA	4,103	341
	Trinity Industries Inc.	13,396	273
	Ryder System Inc.	6,704	255
*	WESCO International Inc.	5,497	223
*	Resideo Technologies Inc.	15,788	170
	Fluor Corp.	17,385	162
	Schneider National Inc.	7,329	131
	ADT Inc.	12,886	82
*	Gates Industrial Corp. plc	4,829	50
			*333,366*
Technology (24.7%)
	Microsoft Corp.	990,540	160,477
	Apple Inc.	582,168	159,141
*	Facebook Inc.	313,068	60,256

Vanguard^® Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Alphabet Inc. Class A	39,298	52,630
*	Alphabet Inc. Class C	39,196	52,496
	Intel Corp.	570,158	31,655
	Cisco Systems Inc.	561,920	22,437
*	Adobe Inc.	63,810	22,022
	NVIDIA Corp.	76,486	20,657
*	salesforce.com Inc.	108,931	18,562
	International Business Machines Corp.	116,261	15,131
	Texas Instruments Inc.	122,794	14,016
	Broadcom Inc.	50,639	13,805
	Oracle Corp.	269,233	13,316
	QUALCOMM Inc.	149,682	11,720
	Intuit Inc.	32,707	8,695
*	ServiceNow Inc.	24,325	7,932
*	Micron Technology Inc.	144,454	7,593
	Applied Materials Inc.	120,435	7,000
*	Advanced Micro Devices Inc.	134,623	6,123
	Activision Blizzard Inc.	98,909	5,750
	L3Harris Technologies Inc.	28,835	5,702
	Lam Research Corp.	18,841	5,529
*	Autodesk Inc.	28,752	5,488
	Analog Devices Inc.	48,520	5,291
	Cognizant Technology Solutions Corp.	71,834	4,377
	HP Inc.	193,372	4,020
*	Electronic Arts Inc.	37,874	3,839
	Motorola Solutions Inc.	22,356	3,704
	IHS Markit Ltd.	51,637	3,679
*	Workday Inc.	21,207	3,674
	Amphenol Corp. Class A	38,313	3,513
*	Twitter Inc.	99,246	3,295
	KLA Corp.	20,796	3,197
*	Splunk Inc.	20,111	2,963
	Microchip Technology Inc.	30,964	2,809
	Xilinx Inc.	33,178	2,770
*	Synopsys Inc.	19,426	2,679
*	ANSYS Inc.	10,895	2,639
*	VeriSign Inc.	13,509	2,563
*	Cadence Design Systems Inc.	36,265	2,399
	Corning Inc.	98,692	2,355
*	RingCentral Inc.	9,683	2,283
*	Palo Alto Networks Inc.	12,360	2,282
	Skyworks Solutions Inc.	22,199	2,224
*	Atlassian Corp. plc Class A	15,303	2,218
	Hewlett Packard Enterprise Co.	170,359	2,179
	Western Digital Corp.	38,811	2,156
	CDW Corp.	18,604	2,125
	Maxim Integrated Products Inc.	36,792	2,046
*	IAC/InterActiveCorp	9,700	1,978
*	Fortinet Inc.	18,550	1,893
	Marvell Technology Group Ltd.	86,330	1,839
*	Paycom Software Inc.	6,475	1,830
*	Twilio Inc.	15,979	1,800
	Leidos Holdings Inc.	17,410	1,787
*	Akamai Technologies Inc.	20,578	1,780
*	Okta Inc.	13,611	1,743
*	DocuSign Inc. Class A	20,088	1,734
	Citrix Systems Inc.	16,173	1,672
	SS&C Technologies Holdings Inc.	28,774	1,597
*	Take-Two Interactive Software Inc.	14,633	1,573
*	GoDaddy Inc.	22,427	1,569
*	Tyler Technologies Inc.	4,993	1,565
*	EPAM Systems Inc.	6,764	1,510
*	Qorvo Inc.	14,994	1,508
*	Arista Networks Inc.	7,713	1,490

Vanguard^® Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	NetApp Inc.	31,513	1,472
*	Gartner Inc.	11,366	1,471
	NortonLifeLock Inc.	76,098	1,448
	Teradyne Inc.	21,689	1,274
*	Black Knight Inc.	18,929	1,263
*	VMware Inc.	10,104	1,218
*	Coupa Software Inc.	8,076	1,209
*	Guidewire Software Inc.	10,905	1,195
*	Zendesk Inc.	14,403	1,142
	Amdocs Ltd.	17,512	1,116
	Cypress Semiconductor Corp.	47,575	1,099
*	PTC Inc.	13,715	1,036
*	ON Semiconductor Corp.	53,591	1,000
*	Aspen Technology Inc.	8,947	953
	Entegris Inc.	17,807	950
	Cognex Corp.	21,299	949
*	HubSpot Inc.	5,270	946
*	F5 Networks Inc.	7,804	936
	Juniper Networks Inc.	43,365	920
	Universal Display Corp.	5,517	876
*	Ceridian HCM Holding Inc.	12,087	855
	Monolithic Power Systems Inc.	5,364	851
*	MongoDB Inc.	5,397	823
*	Alteryx Inc.	5,878	821
	DXC Technology Co.	33,623	811
*	Dell Technologies Inc.	20,032	811
*	CACI International Inc. Class A	3,269	801
*	Ciena Corp.	20,635	793
*	Nuance Communications Inc.	36,629	792
*	Proofpoint Inc.	7,249	773
*	Zynga Inc.	113,121	759
	CDK Global Inc.	16,130	742
	MKS Instruments Inc.	7,219	723
*	Arrow Electronics Inc.	10,588	710
*	RealPage Inc.	10,584	678
	SYNNEX Corp.	5,349	669
*	Cree Inc.	14,156	633
	Jabil Inc.	19,319	619
*	IPG Photonics Corp.	4,528	578
*	Grubhub Inc.	11,767	566
*	Dropbox Inc. Class A	28,586	559
	Dolby Laboratories Inc.	8,434	554
	LogMeIn Inc.	6,464	551
*	Manhattan Associates Inc.	8,159	550
*	Smartsheet Inc. Class A	11,753	544
*	Nutanix Inc.	22,467	536
*	Avalara Inc.	5,982	507
*	Anaplan Inc.	11,223	504
	Sabre Corp.	36,611	498
^{^,*}	Match Group Inc.	7,141	464
	Pegasystems Inc.	4,992	452
*	Pure Storage Inc.	29,243	446
*	ViaSat Inc.	7,574	436
*	Elastic NV	5,759	425
*	NCR Corp.	16,757	422
*	Zscaler Inc.	7,932	412
*	Coherent Inc.	3,116	401
	Avnet Inc.	12,819	393
*	New Relic Inc.	6,578	370
*	Dynatrace Inc.	11,235	363
*	FireEye Inc.	24,959	330
*	Teradata Corp.	13,827	276
*	CommScope Holding Co. Inc.	24,148	266
*	EchoStar Corp.	6,125	214

Vanguard^® Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Ubiquiti Inc.	1,137	154
*	Pluralsight Inc. Class A	7,864	140
*	Covetrus Inc.	12,253	136
*	PagerDuty Inc.	5,661	117
	Switch Inc.	7,431	107
*	SolarWinds Corp.	5,517	101
*	Cerence Inc.	4,558	99
*	Medallia Inc.	2,190	54
			882,942
Utilities (5.3%)
	AT&T Inc.	956,486	33,687
	Verizon Communications Inc.	542,133	29,362
	NextEra Energy Inc.	63,949	16,164
	Duke Energy Corp.	95,587	8,765
	Dominion Energy Inc.	107,774	8,426
	Southern Co.	136,461	8,237
	American Electric Power Co. Inc.	64,545	5,761
	Exelon Corp.	126,656	5,460
	Sempra Energy	37,063	5,181
	Xcel Energy Inc.	68,515	4,270
	WEC Energy Group Inc.	41,177	3,802
*	T-Mobile US Inc.	40,926	3,690
	Eversource Energy	42,330	3,660
	Consolidated Edison Inc.	43,411	3,422
	Public Service Enterprise Group Inc.	65,827	3,378
	FirstEnergy Corp.	70,482	3,139
	Edison International	45,693	3,070
	Entergy Corp.	25,953	3,034
	American Water Works Co. Inc.	23,898	2,955
	PPL Corp.	94,320	2,831
	DTE Energy Co.	24,156	2,698
	Ameren Corp.	31,942	2,523
	CMS Energy Corp.	36,970	2,234
	Evergy Inc.	29,674	1,939
	CenturyLink Inc.	141,052	1,703
	Alliant Energy Corp.	31,227	1,628
	Atmos Energy Corp.	15,196	1,569
	CenterPoint Energy Inc.	66,175	1,523
	AES Corp.	86,506	1,447
	NiSource Inc.	48,733	1,317
	Pinnacle West Capital Corp.	14,698	1,315
	Essential Utilities Inc.	28,509	1,226
	NRG Energy Inc.	32,685	1,085
	Vistra Energy Corp.	56,084	1,078
*	PG&E Corp.	68,912	1,068
*	Zayo Group Holdings Inc.	29,004	1,015
	UGI Corp.	27,420	988
	OGE Energy Corp.	25,745	981
*	GCI Liberty Inc. Class A	12,923	893
*	Sprint Corp.	71,713	659
	IDACORP Inc.	6,680	646
	Hawaiian Electric Industries Inc.	14,009	600
	National Fuel Gas Co.	10,277	376
	Avangrid Inc.	7,025	349
	Telephone & Data Systems Inc.	13,190	266
*	United States Cellular Corp.	2,178	68
			189,488
*Total Common Stocks (Cost $2,736,932)*			3,561,700

Vanguard^® Russell 1000 Index Fund

Schedule of Investments

February 29, 2020

Coupon			Shares	Market Value ($000)
Temporary Cash Investments (0.4%)
Money Market Fund (0.4%)
1,2	Vanguard Market Liquidity Fund	1.706%	117,281	11,732

			Maturity Date	Face Amount ($000)
U.S. Government and Agency Obligations (0.0%)
3	United States Treasury Bill	1.527% —1.541%	4/30/20	870	868
Total Temporary Cash Investments (Cost $12,598)					12,600
Total Investments (99.9%) (Cost $2,749,530)					3,574,300
Other Assets and Liabilities—Net (0.1%)²					4,496
Net Assets (100%)					3,578,796
Cost rounded to $000.
^	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,159,000.
*	Non-income-producing security.
1	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
2	Collateral of $1,215,000 was received for securities on loan.
3	Securities with a value of $789,000 have been segregated as initial margin for open futures contracts.
	REIT—Real Estate Investment Trust.

Vanguard^® Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
Common Stocks (99.8%)
Consumer Discretionary (11.0%)
	Walt Disney Co.	517,086	60,835
	Walmart Inc.	415,664	44,759
	McDonald’s Corp.	187,211	36,351
	Home Depot Inc.	140,416	30,588
	Comcast Corp.	707,311	28,597
	Target Corp.	139,740	14,393
	General Motors Co.	368,434	11,237
*	Charter Communications Inc.	18,712	9,228
*	Uber Technologies Inc.	250,276	8,477
	Ford Motor Co.	1,160,093	8,074
	Aptiv plc	70,945	5,541
	DR Horton Inc.	99,414	5,296
	Tiffany & Co.	35,668	4,765
	Royal Caribbean Cruises Ltd.	50,796	4,084
	Best Buy Co. Inc.	53,048	4,013
	Carnival Corp.	117,206	3,922
*	Liberty Broadband Corp. Class C	30,862	3,885
	Garmin Ltd.	42,872	3,789
	Genuine Parts Co.	42,142	3,676
	MGM Resorts International	135,479	3,327
	Las Vegas Sands Corp.	52,583	3,066
	PulteGroup Inc.	74,423	2,992
	Fox Corp. Class A	96,320	2,961
	Lennar Corp. Class A	47,300	2,854
*	Dollar Tree Inc.	31,943	2,652
*	DISH Network Corp.	76,968	2,580
*	Discovery Communications Inc.	101,169	2,539
	Aramark	72,744	2,527
	Whirlpool Corp.	18,479	2,363
*	LKQ Corp.	77,962	2,306
*	CarMax Inc.	25,728	2,246
*	Liberty Media Corp-Liberty Formula One Class C	57,504	2,246
	Interpublic Group of Cos. Inc.	102,839	2,197
*	Caesars Entertainment Corp.	170,799	2,171
*	Mohawk Industries Inc.	17,458	2,115
*	Liberty Media Corp-Liberty SiriusXM Class C	46,077	2,056
	Omnicom Group Inc.	29,495	2,043
	Gentex Corp.	75,309	2,011
	Lear Corp.	17,922	1,993
	Advance Auto Parts Inc.	14,948	1,988
	BorgWarner Inc.	60,889	1,924
	Tapestry Inc.	81,785	1,918
*	Lyft Inc. Class A	50,175	1,913
*	Norwegian Cruise Line Holdings Ltd.	50,262	1,873
	Kohl’s Corp.	46,863	1,835
	ViacomCBS Inc. Class B	71,047	1,748
	Fortune Brands Home & Security Inc.	28,203	1,742
	Newell Brands Inc.	111,482	1,720
	Nielsen Holdings plc	91,595	1,668
	PVH Corp.	21,780	1,614
	Service Corp. International	33,570	1,604
	Leggett & Platt Inc.	38,946	1,545
	Ralph Lauren Corp.	14,532	1,533
	New York Times Co.	39,286	1,472
	Toll Brothers Inc.	38,010	1,407
	News Corp. Class A	114,512	1,383
	Harley-Davidson Inc.	44,822	1,366
*	Madison Square Garden Co.	5,004	1,340
	Brunswick Corp.	24,036	1,279
	Fox Corp. Class B	41,139	1,253
	Macy’s Inc.	91,588	1,212

Vanguard^® Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	ServiceMaster Global Holdings Inc.	33,816	1,210
	L Brands Inc.	55,827	1,209
	Thor Industries Inc.	15,834	1,194
	Williams-Sonoma Inc.	19,019	1,187
*	Discovery Inc.	45,057	1,158
	Foot Locker Inc.	31,136	1,129
*	Liberty Media Corp-Liberty SiriusXM Class A	24,415	1,091
*	frontdoor Inc.	25,264	1,071
	Wyndham Destinations Inc.	26,727	1,066
*	Grand Canyon Education Inc.	12,726	1,027
	H&R Block Inc.	49,640	1,026
	Wyndham Hotels & Resorts Inc.	19,495	993
*	Liberty Broadband Corp. Class A	7,566	936
	Gap Inc.	62,704	899
	Yum China Holdings Inc.	20,234	886
	Yum! Brands Inc.	9,754	871
	Hyatt Hotels Corp.	10,912	836
	Amerco	2,567	828
	Cinemark Holdings Inc.	31,854	827
*	Skechers U.S.A. Inc.	24,214	801
	Coty Inc.	86,517	799
*	Qurate Retail Group Inc. QVC Group Class A	113,856	776
	Dick’s Sporting Goods Inc.	18,779	684
	Dollar General Corp.	4,491	675
*	AutoNation Inc.	15,531	664
	Carter’s Inc.	7,103	650
	Goodyear Tire & Rubber Co.	66,894	648
*	Capri Holdings Ltd.	24,018	620
	Graham Holdings Co.	1,206	606
	Extended Stay America Inc.	54,249	596
*	Hilton Grand Vacations Inc.	21,358	569
	Six Flags Entertainment Corp.	21,490	543
	Expedia Group Inc.	5,359	528
	Wynn Resorts Ltd.	4,865	525
	Choice Hotels International Inc.	5,501	502
*	Urban Outfitters Inc.	21,036	495
	John Wiley & Sons Inc.	12,754	474
	Penske Automotive Group Inc.	10,057	463
	News Corp. Class B	34,875	434
*	Mattel Inc.	30,806	363
	Nexstar Media Group Inc.	2,918	335
*	WABCO Holdings Inc.	2,395	324
*	Liberty Media Corp-Liberty Formula One Class A	8,498	319
	International Game Technology plc	29,556	314
	Hanesbrands Inc.	23,263	308
*	Under Armour Inc. Class A	18,996	270
	Vail Resorts Inc.	1,224	260
	Columbia Sportswear Co.	2,990	243
*	Lions Gate Entertainment Corp. Class B	32,682	242
*	2U Inc.	10,151	239
*	Under Armour Inc. Class C	18,593	232
*	IAA Inc.	3,768	161
	Lennar Corp.	3,146	150
	Polaris Inc.	1,719	142
*	Lions Gate Entertainment Corp. Class A	15,747	125
	Dunkin’ Brands Group Inc.	1,579	105
	TripAdvisor Inc.	2,979	70
	KAR Auction Services Inc.	3,456	66
	ViacomCBS Inc. Class A	1,812	54
	Sinclair Broadcast Group Inc.	1,042	24
			411,934
Consumer Staples (8.9%)
	Procter & Gamble Co.	689,629	78,087
	Philip Morris International Inc.	460,396	37,693

Vanguard^® Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	CVS Health Corp.	384,530	22,756
	Mondelez International Inc.	421,260	22,243
	Coca-Cola Co.	361,427	19,333
	Colgate-Palmolive Co.	248,746	16,808
	Kimberly-Clark Corp.	100,926	13,240
	Altria Group Inc.	283,261	11,435
	Walgreens Boots Alliance Inc.	223,599	10,232
	PepsiCo Inc.	66,471	8,776
	General Mills Inc.	176,940	8,670
	Constellation Brands Inc. Class A	46,786	8,065
	McKesson Corp.	47,444	6,636
	Kroger Co.	235,468	6,624
	Archer-Daniels-Midland Co.	165,026	6,213
	Corteva Inc.	222,009	6,039
	Tyson Foods Inc.	85,012	5,766
	Kraft Heinz Co.	183,986	4,557
	Conagra Brands Inc.	142,634	3,807
	Hormel Foods Corp.	82,345	3,426
	JM Smucker Co.	32,452	3,342
	Lamb Weston Holdings Inc.	31,876	2,770
	Kellogg Co.	45,233	2,735
	Molson Coors Beverage Co. Class B	50,986	2,529
*	US Foods Holding Corp.	64,100	2,156
	Bunge Ltd.	40,433	1,898
	McCormick & Co. Inc.	12,785	1,869
*	Keurig Dr Pepper Inc.	60,235	1,679
	Ingredion Inc.	19,905	1,658
	Casey’s General Stores Inc.	8,136	1,326
*	Beyond Meat Inc.	14,017	1,257
	Flowers Foods Inc.	57,858	1,246
*	Post Holdings Inc.	10,699	1,083
	Clorox Co.	6,795	1,083
	Campbell Soup Co.	20,988	947
*	Herbalife Nutrition Ltd.	25,040	810
	Energizer Holdings Inc.	18,378	790
	Hershey Co.	5,311	765
	Spectrum Brands Holdings Inc	12,165	656
*	Hain Celestial Group Inc.	24,572	583
*	TreeHouse Foods Inc.	13,330	508
	Nu Skin Enterprises Inc.	15,839	388
	Grocery Outlet Holding Corp.	11,936	378
*	Sprouts Farmers Market Inc.	17,929	287
	Seaboard Corp.	71	242
*	Pilgrim’s Pride Corp.	9,945	210
	Brown-Forman Corp.	2,973	183
	Brown-Forman Corp. Class A	1,255	74
			333,858
Energy (7.0%)
	Exxon Mobil Corp.	1,254,140	64,513
	Chevron Corp.	564,651	52,705
	ConocoPhillips	325,439	15,758
	Schlumberger Ltd.	410,886	11,131
	Kinder Morgan Inc.	577,992	11,080
	EOG Resources Inc.	171,959	10,878
	Phillips 66	132,664	9,931
	Marathon Petroleum Corp.	190,735	9,045
	Occidental Petroleum Corp.	264,643	8,664
	Valero Energy Corp.	121,542	8,052
	Williams Cos. Inc.	358,965	6,838
	ONEOK Inc.	82,724	5,519
	Hess Corp.	79,355	4,458
	Halliburton Co.	256,433	4,349
	Concho Resources Inc.	59,032	4,015
	Pioneer Natural Resources Co.	28,084	3,448

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

			Market
			Value
		Shares	($000)
	Baker Hughes Co.	193,153		3,108
	Apache Corp.	110,300		2,749
	Diamondback Energy Inc.	37,593		2,331
	Noble Energy Inc.	139,263		2,205
	Targa Resources Corp.	67,189		2,177
	National Oilwell Varco Inc.	114,842		2,149
	Marathon Oil Corp.	237,806		1,969
	Devon Energy Corp.	114,457		1,859
*	Cheniere Energy Inc.	29,060		1,490
	HollyFrontier Corp.	44,230		1,490
	Helmerich & Payne Inc.	31,318		1,155
*	WPX Energy Inc.	121,167		1,130
*	First Solar Inc.	23,961		1,097
	Valvoline Inc.	56,139		1,095
	Cimarex Energy Co.	29,753		983
	Murphy Oil Corp.	44,013		830
	PBF Energy Inc.	35,715		800
	Cabot Oil & Gas Corp.	44,890		625
*	Transocean Ltd.	168,000		563
	Parsley Energy Inc.	37,025		496
	Continental Resources Inc.	24,854		471
	EQT Corp.	73,218		430
*	Apergy Corp.	22,312		415
	Equitrans Midstream Corp.	52,859		373
	Antero Midstream Corp.	75,226		328
	Kosmos Energy Ltd.	104,467		319
	Patterson-UTI Energy Inc.	55,067		316
	Range Resources Corp.	60,302		167
*	Centennial Resource Development Inc.	52,506		124
*	Antero Resources Corp.	76,215		122
^,*	Chesapeake Energy Corp.	376,353		103
				263,853
Financial Services (29.0%)
*	Berkshire Hathaway Inc.	578,994		119,470
	JPMorgan Chase & Co.	923,249		107,198
	Bank of America Corp.	2,410,079		68,687
	Wells Fargo & Co.	1,128,898		46,116
	Citigroup Inc.	646,424		41,022
	CME Group Inc.	104,877		20,852
	US Bancorp	423,655		19,675
	Chubb Ltd.	133,525		19,365
	Goldman Sachs Group Inc.	94,337		18,940
	Prologis Inc.	217,007		18,289
	Truist Financial Corp.	395,982		18,271
	PNC Financial Services Group Inc.	129,624		16,385
	BlackRock Inc.	35,033		16,221
	Morgan Stanley	344,582		15,517
	Capital One Financial Corp.	138,486		12,223
	American International Group Inc.	257,329		10,849
	Allstate Corp.	95,776		10,080
	MetLife Inc.	229,812		9,818
	Fidelity National Information Services Inc.	69,989		9,779
	Bank of New York Mellon Corp.	243,138		9,701
	American Express Co.	87,724		9,644
	Aflac Inc.	215,184		9,221
	Prudential Financial Inc.	120,009		9,055
	Welltower Inc.	119,954		8,975
	Intercontinental Exchange Inc.	97,936		8,738
	Progressive Corp.	116,308		8,509
	AvalonBay Communities Inc.	41,160		8,256
	Equity Residential	108,240		8,129
	Travelers Cos. Inc.	63,992		7,667
	Digital Realty Trust Inc.	61,552		7,393
	State Street Corp.	107,443		7,318

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

			Market
			Value
		Shares	($000)
	Willis Towers Watson plc	38,242		7,237
	Realty Income Corp.	96,604		6,993
	Boston Properties Inc.	45,867		5,914
	Ventas Inc.	109,934		5,911
	Weyerhaeuser Co.	220,284		5,723
	T. Rowe Price Group Inc.	47,985		5,663
	Charles Schwab Corp.	136,590		5,566
	Essex Property Trust Inc.	19,386		5,493
	M&T Bank Corp.	39,038		5,480
	Hartford Financial Services Group Inc.	106,242		5,307
	Fifth Third Bancorp	209,855		5,120
	Alexandria Real Estate Equities Inc.	33,607		5,104
	Northern Trust Corp.	57,739		5,067
	KeyCorp	292,416		4,781
	Healthpeak Properties Inc.	145,664		4,609
	Ameriprise Financial Inc.	32,307		4,565
	Invitation Homes Inc.	157,628		4,522
*	Markel Corp.	3,684		4,353
	Mid-America Apartment Communities Inc.	33,484		4,328
	Cincinnati Financial Corp.	44,947		4,191
	Arthur J Gallagher & Co.	42,750		4,168
	Synchrony Financial	139,710		4,066
	Citizens Financial Group Inc.	127,696		4,047
	First Republic Bank	40,115		4,034
*	Arch Capital Group Ltd.	97,692		3,950
	Discover Financial Services	60,001		3,935
	WP Carey Inc.	50,783		3,931
	Regions Financial Corp.	283,457		3,832
	Annaly Capital Management Inc.	427,906		3,791
	Huntington Bancshares Inc.	303,116		3,719
	UDR Inc.	81,151		3,650
	Principal Financial Group Inc.	81,896		3,635
	Duke Realty Corp.	108,486		3,523
*	CBRE Group Inc.	62,571		3,513
	Loews Corp.	76,051		3,470
	Nasdaq Inc.	33,831		3,469
	VICI Properties Inc.	136,337		3,417
	Medical Properties Trust Inc.	151,553		3,202
	Sun Communities Inc.	20,304		3,104
	Host Hotels & Resorts Inc.	210,779		3,052
	Fidelity National Financial Inc.	78,512		3,043
*	SVB Financial Group	14,321		2,981
	Camden Property Trust	27,589		2,924
	Globe Life Inc.	31,527		2,921
	WR Berkley Corp.	42,548		2,857
	Ally Financial Inc.	112,956		2,832
	Cboe Global Markets Inc.	24,784		2,825
	Regency Centers Corp.	49,170		2,824
	Brown & Brown Inc.	65,150		2,802
	Vornado Realty Trust	51,604		2,765
	VEREIT Inc.	315,825		2,735
	Lincoln National Corp.	59,524		2,702
	AGNC Investment Corp.	158,147		2,695
	Gaming and Leisure Properties Inc.	59,853		2,674
*	Equitable Holdings Inc.	121,971		2,610
	National Retail Properties Inc.	50,436		2,565
	Federal Realty Investment Trust	21,998		2,559
	Omega Healthcare Investors Inc.	64,156		2,541
	E*TRADE Financial Corp.	54,675		2,503
*	Alleghany Corp.	3,716		2,498
	Raymond James Financial Inc.	28,333		2,370
	Reinsurance Group of America Inc.	18,527		2,261
	Iron Mountain Inc.	74,158		2,255
	Public Storage	10,742		2,246

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

			Market
			Value
		Shares	($000)
	Kilroy Realty Corp.	30,724		2,233
	Assurant Inc.	18,002		2,171
	Western Union Co.	96,742		2,166
	Comerica Inc.	39,989		2,105
*	Zillow Group Inc. Class C	37,538		2,095
	Kimco Realty Corp.	119,986		2,082
	STORE Capital Corp.	63,224		2,078
	Apartment Investment & Management Co.	43,388		2,076
	Everest Re Group Ltd.	8,234		2,041
	American Financial Group Inc.	21,620		1,998
	CyrusOne Inc.	32,902		1,993
	Jones Lang LaSalle Inc.	13,455		1,988
	Zions Bancorp NA	49,748		1,987
	Voya Financial Inc.	36,945		1,945
	New Residential Investment Corp.	122,836		1,911
	Marsh & McLennan Cos. Inc.	18,278		1,911
	Healthcare Trust of America Inc.	60,144		1,873
	Douglas Emmett Inc.	49,039		1,872
	SL Green Realty Corp.	23,606		1,852
	First American Financial Corp.	32,180		1,838
	Commerce Bancshares Inc.	29,776		1,818
	People's United Financial Inc.	129,718		1,815
	Starwood Property Trust Inc.	80,222		1,779
	Franklin Resources Inc.	80,941		1,761
	American Campus Communities Inc.	40,289		1,750
	CubeSmart	56,849		1,721
	East West Bancorp Inc.	42,951		1,664
	Old Republic International Corp.	83,088		1,639
	Invesco Ltd.	112,706		1,623
	TCF Financial Corp.	44,479		1,621
	Brixmor Property Group Inc.	87,764		1,598
	Jefferies Financial Group Inc.	78,509		1,547
	Prosperity Bancshares Inc.	23,890		1,543
	Cousins Properties Inc.	43,116		1,539
	Life Storage Inc.	13,769		1,486
	New York Community Bancorp Inc.	134,170		1,450
	Unum Group	61,947		1,444
	Hudson Pacific Properties Inc.	44,462		1,435
	Hanover Insurance Group Inc.	11,688		1,386
	Popular Inc.	28,556		1,370
	Highwoods Properties Inc.	30,355		1,362
	RenaissanceRe Holdings Ltd.	7,990		1,362
	EPR Properties	22,768		1,349
	Eaton Vance Corp.	32,281		1,332
	Spirit Realty Capital Inc.	29,259		1,331
	JBG SMITH Properties	36,246		1,330
	Cullen/Frost Bankers Inc.	16,749		1,313
	SLM Corp.	125,053		1,297
	Park Hotels & Resorts Inc.	70,217		1,282
	Simon Property Group Inc.	10,397		1,280
	Legg Mason Inc.	25,434		1,267
	Axis Capital Holdings Ltd.	22,050		1,237
	MGIC Investment Corp.	102,318		1,231
	First Horizon National Corp.	91,149		1,215
	Pinnacle Financial Partners Inc.	22,337		1,176
	Western Alliance Bancorp	25,223		1,161
*	Brighthouse Financial Inc.	31,984		1,146
	Equity Commonwealth	35,830		1,127
	American Homes 4 Rent	43,472		1,126
	Assured Guaranty Ltd.	27,547		1,124
	Synovus Financial Corp.	38,437		1,115
	PacWest Bancorp	35,091		1,110
	Chimera Investment Corp.	55,525		1,091
	Affiliated Managers Group Inc.	14,278		1,074

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments
February 29, 2020

			Market
			Value
		Shares	($000)
	SEI Investments Co.	19,587		1,072
	Two Harbors Investment Corp.	78,730		1,067
*	Athene Holding Ltd. Class A	25,171		1,038
	Kemper Corp.	14,952		1,029
	Rayonier Inc.	38,762		1,028
	Webster Financial Corp.	26,772		1,017
	CIT Group Inc.	25,562		1,015
	Umpqua Holdings Corp.	65,952		1,015
	MFA Financial Inc.	137,174		992
	Sterling Bancorp	59,719		990
	Signature Bank	7,911		990
	FNB Corp.	97,859		987
	CoreLogic Inc.	21,727		986
	Janus Henderson Group plc	45,800		971
	Outfront Media Inc.	35,795		943
	Weingarten Realty Investors	34,974		942
	First Citizens BancShares Inc.	2,075		941
	First Hawaiian Inc.	39,032		935
	Alliance Data Systems Corp.	10,694		918
*	Zillow Group Inc. Class A	16,277		906
	Wintrust Financial Corp.	16,818		898
	Bank OZK	35,256		895
*	Howard Hughes Corp.	8,289		894
	White Mountains Insurance Group Ltd.	893		884
	Service Properties Trust	48,630		879
	Taubman Centers Inc.	16,874		878
	Bank of Hawaii Corp.	11,644		867
^	Macerich Co.	42,116		860
	BankUnited Inc.	28,026		832
	Interactive Brokers Group Inc.	16,135		825
	Corporate Office Properties Trust	32,442		822
	Associated Banc-Corp	46,734		791
	Apple Hospitality REIT Inc.	60,473		790
	Equifax Inc.	5,322		756
^	Santander Consumer USA Holdings Inc.	30,664		748
	Extra Space Storage Inc.	7,196		722
*	Texas Capital Bancshares Inc.	15,186		715
	Paramount Group Inc.	58,145		706
	OneMain Holdings Inc	18,875		694
	Lazard Ltd.	19,284		691
	Brandywine Realty Trust	50,326		683
	BOK Financial Corp.	9,391		680
	Retail Properties of America Inc.	64,412		674
	Navient Corp.	57,831		649
	Columbia Property Trust Inc.	33,605		634
	Empire State Realty Trust Inc.	45,003		527
	Colony Capital Inc.	130,433		517
	SITE Centers Corp.	44,665		514
	Evercore Inc.	7,550		503
	TD Ameritrade Holding Corp.	10,171		430
	BGC Partners Inc.	87,069		406
	Jack Henry & Associates Inc.	2,598		394
	Primerica Inc.	3,371		375
	Erie Indemnity Co.	2,400		343
	Mercury General Corp.	7,897		342
	CNA Financial Corp.	8,150		339
	TFS Financial Corp.	14,108		288
	CoreSite Realty Corp.	2,340		243
	American National Insurance Co.	2,145		211
*	Credit Acceptance Corp.	378		152
	Virtu Financial Inc.	7,627		143
				1,091,404
Health Care (12.7%)
	Johnson & Johnson	667,947		89,826

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments
February 29, 2020

			Market
			Value
		Shares	($000)
	Pfizer Inc.	1,648,242		55,084
	Medtronic plc	397,367		40,003
	Danaher Corp.	172,804		24,984
	Gilead Sciences Inc.	323,108		22,411
	Abbott Laboratories	289,209		22,278
	Allergan plc	97,186		18,530
	Becton Dickinson and Co.	72,468		17,234
	Bristol-Myers Squibb Co.	286,299		16,909
	Cigna Corp.	75,342		13,783
	Anthem Inc.	53,191		13,675
	Thermo Fisher Scientific Inc.	37,659		10,951
*	Biogen Inc.	35,022		10,800
*	Regeneron Pharmaceuticals Inc.	19,240		8,554
	Zimmer Biomet Holdings Inc.	60,646		8,257
	Humana Inc.	22,386		7,156
	Agilent Technologies Inc.	83,133		6,407
	Baxter International Inc.	75,644		6,314
*	Laboratory Corp. of America Holdings	26,852		4,718
	Cardinal Health Inc.	86,848		4,527
	Quest Diagnostics Inc.	39,659		4,206
*	IQVIA Holdings Inc.	30,053		4,192
	HCA Healthcare Inc.	32,147		4,083
	Cooper Cos. Inc.	12,405		4,026
	STERIS plc	23,334		3,701
	Dentsply Sirona Inc.	65,838		3,242
*	Elanco Animal Health Inc.	116,996		3,206
	Merck & Co. Inc.	39,226		3,003
	Universal Health Services Inc.	23,156		2,865
	Amgen Inc.	14,215		2,839
*	Mylan NV	152,864		2,628
*	Qiagen NV	65,984		2,369
*	Catalent Inc.	45,260		2,332
*	Henry Schein Inc.	38,002		2,316
*	DaVita Inc.	29,368		2,280
*	Bio-Rad Laboratories Inc.	6,241		2,197
	PerkinElmer Inc.	25,176		2,176
	Perrigo Co. plc	37,173		1,884
*	Horizon Therapeutics plc	48,315		1,653
*	Alexion Pharmaceuticals Inc.	15,101		1,420
*	United Therapeutics Corp.	12,936		1,332
*	Centene Corp.	24,579		1,303
*	Bluebird Bio Inc.	16,204		1,172
*	Integra LifeSciences Holdings Corp.	21,083		1,098
	Encompass Health Corp.	14,498		1,085
*	Exelixis Inc.	52,849		982
*	Alkermes plc	45,051		939
	Hill-Rom Holdings Inc.	9,690		931
*	Nektar Therapeutics Class A	41,083		855
	West Pharmaceutical Services Inc.	5,140		774
*	Agios Pharmaceuticals Inc.	15,942		757
*	ICU Medical Inc.	3,861		756
*	Acadia Healthcare Co. Inc.	25,057		742
*	Hologic Inc.	15,144		714
*	Alnylam Pharmaceuticals Inc.	4,994		588
*	Premier Inc.	18,228		536
*	Molina Healthcare Inc.	3,997		490
	Avantor Inc.	27,097		427
*	MEDNAX Inc.	24,233		414
*	Envista Holdings Corp.	15,542		394
	Cantel Medical Corp.	4,609		291
*	Jazz Pharmaceuticals plc	1,783		204
*	Moderna Inc.	5,958		155
^,*	Change Healthcare Inc.	7,114		97

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments
February 29, 2020

			Market
			Value
		Shares	($000)
*	Adaptive Biotechnologies Corp.	1,405		39
				476,094
Materials & Processing (4.4%)
	Linde plc	159,102		30,390
	Air Products & Chemicals Inc.	55,934		12,284
	Newmont Corp.	242,183		10,809
	DuPont de Nemours Inc.	219,561		9,419
	Dow Inc.	221,588		8,954
	LyondellBasell Industries NV	78,657		5,621
	PPG Industries Inc.	47,044		4,914
	International Paper Co.	116,080		4,290
	Freeport-McMoRan Inc.	427,847		4,261
	International Flavors & Fragrances Inc.	31,518		3,775
	Nucor Corp.	90,561		3,745
	FMC Corp.	38,269		3,563
	Masco Corp.	84,432		3,489
	Celanese Corp.	35,705		3,347
	Arconic Inc.	113,941		3,344
	Martin Marietta Materials Inc.	12,838		2,921
	Packaging Corp. of America	28,075		2,544
	Albemarle Corp.	30,943		2,533
	Eastman Chemical Co.	40,560		2,495
	Westrock Co.	74,667		2,483
	CF Industries Holdings Inc.	57,582		2,122
	RPM International Inc.	31,580		2,025
	Reliance Steel & Aluminum Co.	19,323		1,976
	Owens Corning	31,697		1,790
	Mosaic Co.	101,270		1,725
	MDU Resources Group Inc.	58,913		1,634
	Steel Dynamics Inc.	60,164		1,602
	Watsco Inc.	9,500		1,491
	Sonoco Products Co.	29,315		1,413
	AO Smith Corp.	33,689		1,332
	Sealed Air Corp.	42,442		1,286
	Ashland Global Holdings Inc.	17,817		1,275
	Royal Gold Inc.	13,169		1,270
	Huntsman Corp.	63,001		1,193
*	Crown Holdings Inc.	16,421		1,158
	Graphic Packaging Holding Co.	85,202		1,152
	AptarGroup Inc.	11,247		1,137
*	Axalta Coating Systems Ltd.	42,620		1,062
*	Berry Global Group Inc.	23,551		894
	Timken Co.	19,365		868
	Acuity Brands Inc.	8,417		866
*	Univar Solutions Inc.	50,403		856
*	Alcoa Corp.	55,415		769
	Olin Corp.	47,165		764
	Valmont Industries Inc.	6,180		718
	Chemours Co.	47,180		701
	Silgan Holdings Inc.	22,455		643
	Cabot Corp.	16,668		623
	Westlake Chemical Corp.	10,190		569
	Ingersoll-Rand plc	4,347		561
	Fastenal Co.	15,686		537
	Domtar Corp.	16,879		486
	O-I Glass Inc.	44,705		483
*	Element Solutions Inc.	40,680		423
	United States Steel Corp.	49,606		398
	Vulcan Materials Co.	3,065		369
	Southern Copper Corp.	6,611		222
	Lennox International Inc.	878		200
	Eagle Materials Inc.	2,326		184
	Avery Dennison Corp.	1,583		181
	GrafTech International Ltd.	19,114		156

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

			Market
			Value
		Shares	($000)
	Hexcel Corp.	1,632		105
	Ardagh Group SA	4,906		86
	NewMarket Corp.	136		53
				164,539
Producer Durables (9.0%)
	United Technologies Corp.	240,094		31,354
	General Electric Co.	2,563,110		27,887
	Caterpillar Inc.	146,164		18,159
	Honeywell International Inc.	108,922		17,664
	Deere & Co.	82,791		12,955
	Norfolk Southern Corp.	66,806		12,182
	General Dynamics Corp.	70,466		11,253
	Eaton Corp. plc	122,085		11,076
	Emerson Electric Co.	165,991		10,642
	FedEx Corp.	71,486		10,092
	CSX Corp.	141,583		9,975
	Roper Technologies Inc.	25,635		9,016
	Johnson Controls International plc	230,518		8,430
	Parker-Hannifin Corp.	38,100		7,040
	PACCAR Inc.	100,230		6,705
	Cummins Inc.	44,296		6,702
	Stanley Black & Decker Inc.	44,820		6,441
	Delta Air Lines Inc.	135,918		6,270
	Raytheon Co.	31,422		5,925
	3M Co.	38,969		5,816
	Republic Services Inc.	58,903		5,317
	Fortive Corp.	67,895		4,696
	Kansas City Southern	29,256		4,408
	Jacobs Engineering Group Inc.	39,024		3,603
*	Teledyne Technologies Inc.	10,577		3,568
*	United Airlines Holdings Inc.	53,290		3,282
	Waste Management Inc.	27,440		3,041
	Textron Inc.	68,432		2,778
	Westinghouse Air Brake Technologies Corp.	38,386		2,637
	Southwest Airlines Co.	56,708		2,619
	Dover Corp.	23,985		2,464
*	Trimble Inc.	61,212		2,417
	Snap-on Inc.	16,080		2,328
	Old Dominion Freight Line Inc.	11,135		2,158
*	Aecom	46,125		2,073
	American Airlines Group Inc.	104,506		1,991
	Pentair plc	49,257		1,940
*	HD Supply Holdings Inc.	49,127		1,868
	Xerox Holdings Corp.	52,623		1,694
	JB Hunt Transport Services Inc.	17,467		1,684
	IDEX Corp.	11,152		1,650
	ITT Inc.	26,006		1,564
	FLIR Systems Inc.	36,496		1,550
	TransDigm Group Inc.	2,745		1,531
*	Stericycle Inc.	26,625		1,529
	Curtiss-Wright Corp.	12,643		1,516
	National Instruments Corp.	36,838		1,484
	Oshkosh Corp.	20,027		1,445
	ManpowerGroup Inc.	17,231		1,309
*	Gardner Denver Holdings Inc.	38,821		1,273
	Quanta Services Inc.	32,559		1,241
	Flowserve Corp.	30,713		1,234
*	JetBlue Airways Corp.	78,113		1,233
	AMETEK Inc.	13,948		1,200
	Knight-Swift Transportation Holdings Inc.	36,117		1,154
	Air Lease Corp.	29,390		1,127
*	Kirby Corp.	17,655		1,125
	AGCO Corp.	18,367		1,110
	Littelfuse Inc.	6,927		1,106

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

			Market
			Value
		Shares	($000)
*	Sensata Technologies Holding plc	26,630		1,086
*	Clean Harbors Inc.	15,411		1,071
	nVent Electric plc	44,459		1,067
	Expeditors International of Washington Inc.	14,800		1,042
	Crane Co.	15,211		1,034
	Alaska Air Group Inc.	19,541		986
	Hubbell Inc.	7,255		967
*	Colfax Corp.	27,422		918
	Regal Beloit Corp.	11,811		917
*	XPO Logistics Inc.	11,584		857
*	United Rentals Inc.	6,354		842
	Macquarie Infrastructure Corp.	21,190		832
	MSC Industrial Direct Co. Inc. Class A	13,167		814
	Allegion plc	6,673		767
	Copa Holdings SA	9,077		755
	CH Robinson Worldwide Inc.	9,151		630
	Trinity Industries Inc.	28,859		587
	Ryder System Inc.	15,020		571
	Huntington Ingalls Industries Inc.	2,422		498
*	WESCO International Inc.	12,011		487
	BWX Technologies Inc.	7,025		385
*	Resideo Technologies Inc.	35,526		382
	Fluor Corp.	40,258		375
	Carlisle Cos. Inc.	2,312		336
	Woodward Inc.	2,872		296
	Schneider National Inc.	16,001		287
	Nordson Corp.	1,491		217
	ADT Inc.	33,178		212
	Spirit AeroSystems Holdings Inc.	2,967		157
*	Gates Industrial Corp. plc	13,759		144
	Landstar System Inc.	1,068		108
	Lincoln Electric Holdings Inc.	981		80
				337,238
*Technology (6.6%)*
	Intel Corp.	1,289,448		71,590
*	Micron Technology Inc.	327,089		17,192
	International Business Machines Corp.	103,871		13,519
	Activision Blizzard Inc.	212,320		12,342
	Analog Devices Inc.	94,202		10,273
	Cognizant Technology Solutions Corp.	150,249		9,155
	HP Inc.	416,278		8,654
	Applied Materials Inc.	126,552		7,355
	L3Harris Technologies Inc.	32,420		6,410
	Hewlett Packard Enterprise Co.	389,118		4,977
	Western Digital Corp.	88,068		4,893
	Skyworks Solutions Inc.	47,928		4,801
	Microchip Technology Inc.	49,472		4,488
	Marvell Technology Group Ltd.	196,775		4,191
	Leidos Holdings Inc.	39,598		4,065
	Corning Inc.	154,687		3,691
*	Qorvo Inc.	34,302		3,450
	NortonLifeLock Inc.	171,509		3,264
	IHS Markit Ltd.	43,274		3,083
*	Autodesk Inc.	14,775		2,820
	Maxim Integrated Products Inc.	49,626		2,760
	Amdocs Ltd.	39,996		2,550
	Cypress Semiconductor Corp.	109,055		2,518
*	ON Semiconductor Corp.	119,936		2,238
	Motorola Solutions Inc.	13,235		2,193
	Juniper Networks Inc.	98,232		2,084
*	Take-Two Interactive Software Inc.	17,716		1,904
*	IAC/InterActiveCorp	9,136		1,863
	DXC Technology Co.	75,828		1,828
*	VeriSign Inc.	9,596		1,821

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments
February 29, 2020

			Market
			Value
		Shares	($000)
*	Nuance Communications Inc.	83,638		1,808
*	CACI International Inc. Class A	7,333		1,797
*	Ciena Corp.	45,607		1,754
	MKS Instruments Inc.	16,078		1,611
*	Arrow Electronics Inc.	23,880		1,601
	SYNNEX Corp.	12,339		1,543
	Lam Research Corp.	5,236		1,536
*	Zynga Inc.	198,215		1,330
*	Cree Inc.	29,657		1,327
*	IPG Photonics Corp.	9,841		1,256
	LogMeIn Inc.	14,229		1,213
	Jabil Inc.	34,801		1,115
	Dolby Laboratories Inc.	15,814		1,039
*	ViaSat Inc.	16,549		952
*	Coherent Inc.	7,178		924
	Sabre Corp.	67,020		912
	Avnet Inc.	29,250		897
*	Electronic Arts Inc.	8,272		839
*	CommScope Holding Co. Inc.	55,128		607
*	EchoStar Corp.	14,699		513
*	Dell Technologies Inc.	12,095		489
	Citrix Systems Inc.	3,987		412
*	Ceridian HCM Holding Inc.	5,120		362
*	Akamai Technologies Inc.	3,996		346
	SS&C Technologies Holdings Inc.	6,132		340
*	Covetrus Inc.	27,975		311
*	Cerence Inc.	10,451		227
*	SolarWinds Corp.	9,254		169
*	F5 Networks Inc.	1,317		158
*	Dynatrace Inc.	4,522		146
*	Medallia Inc.	1,311		33
				249,539
*Utilities (11.2%)*
	AT&T Inc.	2,162,392		76,159
	Verizon Communications Inc.	1,225,558		66,376
	NextEra Energy Inc.	144,322		36,479
	Duke Energy Corp.	215,854		19,794
	Dominion Energy Inc.	243,508		19,037
	Southern Co.	308,161		18,601
	American Electric Power Co. Inc.	146,269		13,056
	Exelon Corp.	286,804		12,364
	Sempra Energy	83,513		11,673
	Xcel Energy Inc.	155,178		9,671
	WEC Energy Group Inc.	93,463		8,629
	Eversource Energy	95,646		8,270
	Consolidated Edison Inc.	98,295		7,748
	Public Service Enterprise Group Inc.	149,030		7,647
	FirstEnergy Corp.	159,567		7,106
	Edison International	103,381		6,946
	Entergy Corp.	58,567		6,847
	American Water Works Co. Inc.	53,245		6,584
	PPL Corp.	213,275		6,400
	DTE Energy Co.	54,790		6,118
	Ameren Corp.	72,405		5,720
	CMS Energy Corp.	83,671		5,055
	Evergy Inc.	67,437		4,407
*	T-Mobile US Inc.	44,413		4,004
	CenturyLink Inc.	323,109		3,900
	Alliant Energy Corp.	71,115		3,707
	Atmos Energy Corp.	34,426		3,555
	CenterPoint Energy Inc.	148,244		3,413
	AES Corp.	196,305		3,284
	Pinnacle West Capital Corp.	33,514		2,999
	NiSource Inc.	110,801		2,994

Vanguard^®Russell 1000 Value Index Fund

Schedule of Investments

February 29, 2020

			Market
			Value
		Shares	($000)
	Essential Utilities Inc.	64,120		2,758
	NRG Energy Inc.	74,851		2,486
*	PG&E Corp.	158,190		2,452
	Vistra Energy Corp.	125,304		2,410
	OGE Energy Corp.	58,783		2,240
	UGI Corp.	61,000		2,198
*	GCI Liberty Inc. Class A	28,981		2,003
*	Sprint Corp.	169,205		1,555
	IDACORP Inc.	14,848		1,435
	Hawaiian Electric Industries Inc.	32,104		1,375
	National Fuel Gas Co.	24,347		891
	Avangrid Inc.	16,427		816
	Telephone & Data Systems Inc.	28,842		581
*	United States Cellular Corp.	4,591		144
				421,887
Total Common Stocks (Cost $3,778,866)				3,750,346

		Coupon
*Temporary Cash Investments (0.1%)*
*Money Market Fund (0.1%)*
1,2	Vanguard Market Liquidity Fund	1.706%	14,693	1,470

Face

Maturity

Amount

Date

($000)

U.S. Government and Agency Obligations (0.0%)

United States Treasury Bill

1.527%—1.541%

4/30/20

450

449

Total Temporary Cash Investments (Cost $1,918)

1,919

Total Investments (99.9%) (Cost $3,780,784)

3,752,265

Other Assets and Liabilities—Net (0.1%)²

4,570

Net Assets (100%)

3,756,835

Cost rounded to $000.

Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,107,000.

Non-income-producing security.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Collateral of $1,464,000 was received for securities on loan.

Securities with a value of $271,000 have been segregated as initial margin for open futures contracts.

REIT—Real Estate Investment Trust.

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*Common Stocks (99.8%)*
*Consumer Discretionary (18.0%)*
*	Amazon.com Inc.		178,953		337,103
*	Netflix Inc.		182,155		67,221
	Home Depot Inc.		271,653		59,177
	Costco Wholesale Corp.		189,982		53,412
	NIKE Inc.		533,451		47,680
*	Tesla Inc.		62,446		41,713
	Starbucks Corp.		510,486		40,037
	Comcast Corp.		915,604		37,018
	Lowe's Cos. Inc.		334,042		35,599
	TJX Cos. Inc.		525,044		31,398
*	Booking Holdings Inc.		18,055		30,615
*	Charter Communications Inc.		39,036		19,251
	Estee Lauder Cos. Inc. Class A		94,149		17,286
	Ross Stores Inc.		153,059		16,650
	Dollar General Corp.		105,406		15,843
	Marriott International Inc.		118,654		14,713
*	O'Reilly Automotive Inc.		32,195		11,871
	Hilton Worldwide Holdings Inc.		120,386		11,702
	eBay Inc.		332,916		11,532
*	Lululemon Athletica Inc.		51,024		11,093
*	AutoZone Inc.		10,248		10,581
	Yum! Brands Inc.		116,221		10,373
	McDonald's Corp.		52,440		10,182
	VF Corp.		133,190		9,590
*	Chipotle Mexican Grill Inc.		11,060		8,556
*	Spotify Technology SA		51,127		7,011
*	Ulta Beauty Inc.		24,482		6,294
*	Burlington Stores Inc.		28,152		6,088
	Domino's Pizza Inc.		17,697		6,007
	Yum China Holdings Inc.		125,760		5,507
	Darden Restaurants Inc.		52,882		5,156
*	NVR Inc.		1,400		5,134
	Expedia Group Inc.		52,030		5,131
*	Trade Desk Inc.		16,941		4,866
*	Dollar Tree Inc.		54,944		4,562
	Tractor Supply Co.		51,242		4,535
	Hasbro Inc.		54,614		4,219
*	Roku Inc.		36,631		4,164
	Las Vegas Sands Corp.		70,549		4,114
*	Bright Horizons Family Solutions Inc.		24,858		3,906
	Wynn Resorts Ltd.		35,008		3,780
	Sirius XM Holdings Inc.		587,444		3,724
	Pool Corp.		16,718		3,527
	Omnicom Group Inc.		49,463		3,427
*	Live Nation Entertainment Inc.		56,032		3,405
*	Altice USA Inc.		130,657		3,379
	Vail Resorts Inc.		15,546		3,305
	ViacomCBS Inc. Class B		129,528		3,188
	Lennar Corp. Class A		50,395		3,041
	Cable One Inc.		1,893		2,978
*	Etsy Inc.		50,778		2,935
*	CarMax Inc.		33,522		2,927
*	WABCO Holdings Inc.		18,722		2,529
*	Planet Fitness Inc.		35,145		2,372
*	Five Below Inc.		23,811		2,308
	Rollins Inc.		60,261		2,256
	Dunkin' Brands Group Inc.		33,706		2,242
*	IAA Inc.		52,335		2,236
	Polaris Inc.		21,936		1,810
*	Wayfair Inc.		27,508		1,739
	Nexstar Media Group Inc.		14,732		1,694

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Nordstrom Inc.		46,047		1,598
^{*,^}	Carvana Co.		19,182		1,590
	Hanesbrands Inc.		118,809		1,573
*	Uber Technologies Inc.		44,765		1,516
	Best Buy Co. Inc.		20,017		1,514
*	Floor & Decor Holdings Inc. Class A		29,414		1,502
	Wendy's Co.		78,986		1,491
*	Tempur Sealy International Inc.		19,507		1,458
	Service Corp. International		27,165		1,298
*	Mattel Inc.		100,621		1,186
	Fortune Brands Home & Security Inc.		18,931		1,169
	Target Corp.		11,263		1,160
*	Ollie's Bargain Outlet Holdings Inc.		22,385		1,139
	KAR Auction Services Inc.		51,483		991
	TripAdvisor Inc.		40,488		949
	Advance Auto Parts Inc.		6,983		929
	World Wrestling Entertainment Inc.		19,522		913
	Carter's Inc.		8,482		776
*	Under Armour Inc. Class A		52,396		743
*	Norwegian Cruise Line Holdings Ltd.		18,564		692
*	Under Armour Inc. Class C		54,493		680
	Columbia Sportswear Co.		8,306		675
*	Skechers U.S.A. Inc.		20,264		670
*	Capri Holdings Ltd.		25,148		649
	Wyndham Hotels & Resorts Inc.		12,127		618
	Aptiv plc		7,410		579
*	AMC Networks Inc.		18,480		573
	Choice Hotels International Inc.		6,191		565
*	LKQ Corp.		18,920		560
	Sinclair Broadcast Group Inc.		24,026		558
	New York Times Co.		12,967		486
	MGM Resorts International		17,682		434
	Williams-Sonoma Inc.		6,116		382
	Fox Corp. Class A		12,355		380
	Interpublic Group of Cos. Inc.		16,703		357
*	Lyft Inc. Class A		9,068		346
	Nielsen Holdings plc		18,893		344
	L Brands Inc.		15,227		330
*	ServiceMaster Global Holdings Inc.		9,204		329
	H&R Block Inc.		13,199		273
	Fox Corp. Class B		8,620		262
*	2U Inc.		8,765		206
*	Madison Square Garden Co.		740		198
*	Grand Canyon Education Inc.		1,881		152
*	Hilton Grand Vacations Inc.		5,364		143
	Six Flags Entertainment Corp.		3,175		80
	Lennar Corp.		1,418		68
					*1,130,776*
*Consumer Staples (3.4%)*
	PepsiCo Inc.		509,065		67,212
	Coca-Cola Co.		1,131,674		60,533
	Altria Group Inc.		394,749		15,936
	Sysco Corp.		205,935		13,726
*	Monster Beverage Corp.		165,171		10,308
	Hershey Co.		54,579		7,859
	Church & Dwight Co. Inc.		106,520		7,405
	Clorox Co.		44,473		7,090
	Procter & Gamble Co.		62,250		7,049
	McCormick & Co. Inc.		34,183		4,997
	Brown-Forman Corp.		67,131		4,122
	Kellogg Co.		41,124		2,487
	Campbell Soup Co.		40,861		1,844
	Lamb Weston Holdings Inc.		16,106		1,399
*	Post Holdings Inc.		12,420		1,258

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	McKesson Corp.		8,568		1,198
	Brown-Forman Corp. Class A		20,092		1,179
	Casey's General Stores Inc.		3,926		640
*	Sprouts Farmers Market Inc.		23,600		377
*	Herbalife Nutrition Ltd.		6,577		213
*	Pilgrim's Pride Corp.		8,037		170
*	TreeHouse Foods Inc.		3,991		152
	Grocery Outlet Holding Corp.		3,533		112
					*217,266*
*Energy (0.2%)*
	ONEOK Inc.		56,676		3,782
	Pioneer Natural Resources Co.		30,093		3,695
*	Cheniere Energy Inc.		56,702		2,908
	Cabot Oil & Gas Corp.		107,469		1,497
	Parsley Energy Inc.		74,348		996
	Diamondback Energy Inc.		14,553		902
	Equitrans Midstream Corp.		8,819		62
					*13,842*
*Financial Services (12.3%)*
	Visa Inc.		741,504		134,776
	Mastercard Inc.		383,723		111,376
*	PayPal Holdings Inc.		508,046		54,864
	American Tower Corp.		189,885		43,066
	S&P Global Inc.		106,389		28,290
*	Fiserv Inc.		243,795		26,661
	Crown Castle International Corp.		179,222		25,681
	Global Payments Inc.		128,867		23,708
	Fidelity National Information Services Inc.		161,383		22,548
	Aon plc		101,213		21,052
	Equinix Inc.		36,736		21,042
	Marsh & McLennan Cos. Inc.		192,481		20,126
	American Express Co.		161,812		17,788
	Moody's Corp.		71,094		17,065
	Simon Property Group Inc.		117,728		14,490
	SBA Communications Corp.		48,291		12,801
*	Square Inc.		148,556		12,379
	Charles Schwab Corp.		297,758		12,134
	MSCI Inc.		35,398		10,458
	Public Storage		48,266		10,093
*	FleetCor Technologies Inc.		36,719		9,760
	Intercontinental Exchange Inc.		94,577		8,438
	TransUnion		80,564		7,164
	Equifax Inc.		43,819		6,224
	Progressive Corp.		82,630		6,045
	MarketAxess Holdings Inc.		15,864		5,145
	Equity LifeStyle Properties Inc.		74,968		5,123
	Broadridge Financial Solutions Inc.		48,837		5,097
*	Fair Isaac Corp.		12,275		4,616
	Jack Henry & Associates Inc.		29,294		4,445
	Extra Space Storage Inc.		43,827		4,398
	FactSet Research Systems Inc.		16,259		4,325
	TD Ameritrade Holding Corp.		100,730		4,254
*	WEX Inc.		18,576		3,478
	T. Rowe Price Group Inc.		28,335		3,344
	Discover Financial Services		47,637		3,124
	Lamar Advertising Co.		37,061		3,103
*	CBRE Group Inc.		53,728		3,016
	LPL Financial Holdings Inc.		34,667		2,755
*	Euronet Worldwide Inc.		21,678		2,689
	Americold Realty Trust		83,561		2,563
	Synchrony Financial		75,808		2,206
	Travelers Cos. Inc.		17,975		2,154
	Arthur J Gallagher & Co.		16,531		1,612
*	Credit Acceptance Corp.		3,943		1,590

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Sun Communities Inc.		9,536		1,458
	Primerica Inc.		12,929		1,440
	SEI Investments Co.		26,199		1,433
	Signature Bank		11,339		1,419
	Cboe Global Markets Inc.		11,663		1,330
	CoreSite Realty Corp.		12,753		1,323
	Everest Re Group Ltd.		5,207		1,291
	First Republic Bank		12,824		1,290
	Morningstar Inc.		8,423		1,237
	American Homes 4 Rent		46,863		1,213
	RenaissanceRe Holdings Ltd.		7,084		1,207
	Ameriprise Financial Inc.		7,472		1,056
	Raymond James Financial Inc.		12,525		1,047
*	Athene Holding Ltd. Class A		24,917		1,028
	Erie Indemnity Co.		6,947		993
*	LendingTree Inc.		3,275		903
	Western Union Co.		40,166		899
*	Arch Capital Group Ltd.		22,089		893
	E*TRADE Financial Corp.		17,774		814
	Lazard Ltd.		17,028		610
*	Markel Corp.		496		586
*	Howard Hughes Corp.		5,330		575
	Brookfield Property REIT Inc. Class A		28,279		461
	Interactive Brokers Group Inc.		8,405		429
	Iron Mountain Inc.		13,588		413
	Evercore Inc.		6,200		413
*	Alleghany Corp.		604		406
	Jones Lang LaSalle Inc.		2,452		362
*	SVB Financial Group		1,654		344
	Kemper Corp.		4,829		332
	UDR Inc.		6,194		279
	Prosperity Bancshares Inc.		4,304		278
	Outfront Media Inc.		9,301		245
	Brown & Brown Inc.		5,652		243
	Voya Financial Inc.		4,412		232
	Axis Capital Holdings Ltd.		3,852		216
	Western Alliance Bancorp		4,432		204
	Comerica Inc.		3,481		183
	Alliance Data Systems Corp.		2,035		175
	Virtu Financial Inc.		8,524		160
	Synovus Financial Corp.		4,921		143
	CIT Group Inc.		3,418		136
	CoreLogic Inc.		1,919		87
	Colony Capital Inc.		12,504		50
					*776,902*
*Health Care (13.8%)*
	UnitedHealth Group Inc.		409,069		104,296
	Merck & Co. Inc.		1,045,526		80,045
	AbbVie Inc.		639,505		54,812
	Amgen Inc.		238,557		47,647
	Eli Lilly & Co.		367,823		46,394
	Bristol-Myers Squibb Co.		593,588		35,057
	Thermo Fisher Scientific Inc.		117,383		34,135
	Stryker Corp.		148,243		28,254
	Zoetis Inc.		207,092		27,591
*	Intuitive Surgical Inc.		49,526		26,445
*	Vertex Pharmaceuticals Inc.		110,891		24,843
	Abbott Laboratories		322,281		24,825
	Johnson & Johnson		173,452		23,326
*	Boston Scientific Corp.		600,195		22,441
*	Edwards Lifesciences Corp.		89,681		18,370
*	Illumina Inc.		63,408		16,846
*	Centene Corp.		213,712		11,331
*	DexCom Inc.		39,055		10,779

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	ResMed Inc.		61,379		9,757
	Cerner Corp.		134,812		9,338
*	IDEXX Laboratories Inc.		36,660		9,330
	Cigna Corp.		48,522		8,877
	HCA Healthcare Inc.		69,462		8,822
*	Biogen Inc.		26,722		8,241
	Anthem Inc.		32,028		8,234
	Baxter International Inc.		97,702		8,155
*	Veeva Systems Inc.		56,620		8,038
	Humana Inc.		24,537		7,844
*	Align Technology Inc.		33,683		7,355
*	BioMarin Pharmaceutical Inc.		76,901		6,950
	Teleflex Inc.		20,017		6,706
*	Alexion Pharmaceuticals Inc.		69,686		6,553
*	Incyte Corp.		76,419		5,763
*	Seattle Genetics Inc.		49,334		5,617
	AmerisourceBergen Corp. Class A		65,710		5,541
	Gilead Sciences Inc.		79,445		5,510
*	Exact Sciences Corp.		60,508		4,898
*	Insulet Corp.		25,635		4,870
*	Varian Medical Systems Inc.		39,187		4,819
*	IQVIA Holdings Inc.		32,483		4,531
*	Alnylam Pharmaceuticals Inc.		38,059		4,478
*	Hologic Inc.		92,507		4,359
*	Neurocrine Biosciences Inc.		39,022		3,695
	West Pharmaceutical Services Inc.		23,983		3,611
*	Sarepta Therapeutics Inc.		30,665		3,510
*	Masimo Corp.		20,470		3,343
*	Regeneron Pharmaceuticals Inc.		7,364		3,274
*	Charles River Laboratories International Inc.		21,020		3,270
	Bio-Techne Corp.		16,262		3,072
*	ABIOMED Inc.		19,073		2,866
	Chemed Corp.		6,774		2,829
*	Ionis Pharmaceuticals Inc.		55,385		2,812
*	Molina Healthcare Inc.		21,116		2,588
*	PRA Health Sciences Inc.		27,253		2,567
*	Jazz Pharmaceuticals plc		21,001		2,406
	Becton Dickinson and Co.		9,956		2,368
*	Penumbra Inc.		13,575		2,252
*	Moderna Inc.		84,552		2,192
	Danaher Corp.		14,049		2,031
	Bruker Corp.		44,050		1,919
	Encompass Health Corp.		21,087		1,578
	Avantor Inc.		96,712		1,523
	Hill-Rom Holdings Inc.		14,717		1,414
*	Guardant Health Inc.		15,728		1,368
*	Envista Holdings Corp.		41,619		1,056
*	Sage Therapeutics Inc.		21,796		1,024
	Agilent Technologies Inc.		12,985		1,001
*	Exelixis Inc.		51,996		967
	Cooper Cos. Inc.		2,822		916
	PerkinElmer Inc.		10,319		892
	Cantel Medical Corp.		8,949		565
*	ICU Medical Inc.		2,507		491
*	Henry Schein Inc.		8,043		490
*	Laboratory Corp. of America Holdings		2,629		462
	STERIS plc		2,064		327
*	Horizon Therapeutics plc		8,952		306
*	Nektar Therapeutics Class A		10,982		229
^{*,^}	Change Healthcare Inc.		11,207		152
*	Adaptive Biotechnologies Corp.		5,123		144
*	Agios Pharmaceuticals Inc.		2,336		111
					*867,644*

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*Materials & Processing (1.7%)*
	Ecolab Inc.		109,071		19,682
	Sherwin-Williams Co.		35,864		18,533
	Ingersoll-Rand plc		97,916		12,635
	Ball Corp.		139,540		9,832
	Fastenal Co.		223,805		7,659
	Vulcan Materials Co.		51,998		6,253
	Avery Dennison Corp.		33,632		3,850
	PPG Industries Inc.		32,912		3,438
	Lennox International Inc.		13,742		3,135
	Air Products & Chemicals Inc.		13,542		2,974
*	Crown Holdings Inc.		31,984		2,255
	Hexcel Corp.		34,468		2,228
	Armstrong World Industries Inc.		20,811		2,084
	Martin Marietta Materials Inc.		8,531		1,941
	Scotts Miracle-Gro Co.		16,818		1,782
	WR Grace & Co.		24,329		1,376
	Eagle Materials Inc.		14,911		1,177
	AptarGroup Inc.		11,276		1,140
	NewMarket Corp.		2,683		1,042
	Southern Copper Corp.		25,376		854
	Royal Gold Inc.		8,805		849
*	Berry Global Group Inc.		21,552		818
*	Axalta Coating Systems Ltd.		27,086		675
	RPM International Inc.		9,168		588
	Acuity Brands Inc.		4,444		457
	AO Smith Corp.		9,717		384
*	Element Solutions Inc.		36,831		383
	CF Industries Holdings Inc.		9,300		343
	Sealed Air Corp.		4,841		147
					*108,514*
*Producer Durables (9.7%)*
	Boeing Co.		228,858		62,961
	Accenture plc Class A		275,791		49,805
	Union Pacific Corp.		300,281		47,988
	Lockheed Martin Corp.		106,969		39,565
	Automatic Data Processing Inc.		188,009		29,093
	3M Co.		185,125		27,628
	United Parcel Service Inc.		301,937		27,322
	Honeywell International Inc.		151,706		24,602
	Illinois Tool Works Inc.		138,295		23,203
	Northrop Grumman Corp.		68,411		22,496
	Waste Management Inc.		143,434		15,894
	Raytheon Co.		74,951		14,133
	Paychex Inc.		138,878		10,760
	Verisk Analytics Inc.		68,810		10,673
*	CoStar Group Inc.		15,553		10,383
	Cintas Corp.		36,213		9,659
	TransDigm Group Inc.		17,270		9,633
	Rockwell Automation Inc.		49,794		9,137
	CSX Corp.		116,079		8,178
*	Keysight Technologies Inc.		81,210		7,695
*	Copart Inc.		86,816		7,334
*	Mettler-Toledo International Inc.		10,370		7,277
	AMETEK Inc.		77,740		6,686
	Xylem Inc.		77,017		5,957
	Southwest Airlines Co.		121,516		5,613
*	Waters Corp.		27,567		5,373
	WW Grainger Inc.		18,630		5,171
*	Zebra Technologies Corp.		23,083		4,870
	Booz Allen Hamilton Holding Corp.		59,243		4,224
	Expeditors International of Washington Inc.		52,788		3,717
	Graco Inc.		70,982		3,501
	Allegion plc		30,239		3,477

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Nordson Corp.		22,598		3,284
	Toro Co.		45,822		3,273
	Genpact Ltd.		80,257		3,087
	Carlisle Cos. Inc.		21,129		3,070
*	United Rentals Inc.		23,127		3,064
	CH Robinson Worldwide Inc.		44,170		3,043
	HEICO Corp. Class A		33,604		2,968
	Huntington Ingalls Industries Inc.		13,714		2,819
	Dover Corp.		27,329		2,808
	Norfolk Southern Corp.		15,176		2,767
*	Middleby Corp.		24,022		2,686
	IDEX Corp.		17,226		2,549
	Robert Half International Inc.		49,034		2,472
	Donaldson Co. Inc.		54,017		2,435
	Roper Technologies Inc.		6,769		2,381
	Deere & Co.		15,062		2,357
	Delta Air Lines Inc.		49,925		2,303
	Old Dominion Freight Line Inc.		11,838		2,294
	Caterpillar Inc.		18,194		2,260
	Spirit AeroSystems Holdings Inc.		40,109		2,119
	Woodward Inc.		19,692		2,032
	Lincoln Electric Holdings Inc.		24,199		1,982
	Fortive Corp.		28,293		1,957
	Allison Transmission Holdings Inc.		47,618		1,933
*	Paylocity Holding Corp.		14,901		1,930
	HEICO Corp.		16,693		1,800
	Hubbell Inc.		12,733		1,697
*	XPO Logistics Inc.		22,694		1,679
	BWX Technologies Inc.		30,109		1,651
	Landstar System Inc.		15,405		1,555
	Westinghouse Air Brake Technologies Corp.		21,453		1,474
	Emerson Electric Co.		22,846		1,465
*	United Airlines Holdings Inc.		21,862		1,346
	Alaska Air Group Inc.		23,512		1,186
	General Dynamics Corp.		7,309		1,167
*	Sensata Technologies Holding plc		28,492		1,162
	JB Hunt Transport Services Inc.		11,330		1,093
*	Trimble Inc.		18,283		722
	Republic Services Inc.		6,140		554
	Quanta Services Inc.		13,781		525
	Flowserve Corp.		12,058		485
	American Airlines Group Inc.		17,156		327
	FLIR Systems Inc.		5,243		223
*	JetBlue Airways Corp.		11,241		177
	Air Lease Corp.		3,247		125
	National Instruments Corp.		3,047		123
					*608,417*
*Technology (40.5%)*
	Microsoft Corp.		3,271,585		530,030
	Apple Inc.		1,922,958		525,660
*	Facebook Inc.		1,033,868		198,989
*	Alphabet Inc. Class C		130,202		174,383
*	Alphabet Inc. Class A		129,033		172,807
	Cisco Systems Inc.		1,852,340		73,964
*	Adobe Inc.		210,497		72,647
	NVIDIA Corp.		252,247		68,124
*	salesforce.com Inc.		358,916		61,159
	Texas Instruments Inc.		406,080		46,350
	Broadcom Inc.		166,958		45,516
	Oracle Corp.		887,832		43,912
	QUALCOMM Inc.		493,788		38,664
	International Business Machines Corp.		231,958		30,189
	Intuit Inc.		107,544		28,591
*	ServiceNow Inc.		80,540		26,263

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Advanced Micro Devices Inc.		445,546		20,263
	Lam Research Corp.		54,755		16,067
*	Autodesk Inc.		73,478		14,025
	Applied Materials Inc.		213,453		12,406
*	Workday Inc.		70,216		12,165
	Amphenol Corp. Class A		125,715		11,526
*	Electronic Arts Inc.		113,295		11,485
*	Twitter Inc.		328,526		10,907
	KLA Corp.		68,915		10,593
*	Splunk Inc.		66,947		9,863
	L3Harris Technologies Inc.		48,082		9,507
	Xilinx Inc.		110,037		9,187
	Motorola Solutions Inc.		54,579		9,043
*	Synopsys Inc.		64,558		8,905
*	ANSYS Inc.		35,983		8,715
*	Cadence Design Systems Inc.		120,407		7,964
	IHS Markit Ltd.		107,781		7,678
*	RingCentral Inc.		32,137		7,576
*	Palo Alto Networks Inc.		40,923		7,555
*	Atlassian Corp. plc Class A		50,703		7,350
	CDW Corp.		61,484		7,023
*	Fortinet Inc.		61,580		6,285
*	Paycom Software Inc.		21,247		6,005
*	Twilio Inc.		53,019		5,972
*	VeriSign Inc.		30,805		5,845
*	Okta Inc.		45,286		5,799
*	DocuSign Inc. Class A		66,993		5,782
*	Akamai Technologies Inc.		62,499		5,407
*	GoDaddy Inc.		73,920		5,173
*	Tyler Technologies Inc.		16,507		5,172
*	EPAM Systems Inc.		22,394		4,998
	Citrix Systems Inc.		47,862		4,948
*	Arista Networks Inc.		25,474		4,920
*	Gartner Inc.		37,560		4,860
	NetApp Inc.		102,939		4,809
	SS&C Technologies Holdings Inc.		86,234		4,786
	Teradyne Inc.		71,876		4,223
*	Black Knight Inc.		62,212		4,150
*	Coupa Software Inc.		27,096		4,058
*	VMware Inc.		33,312		4,015
*	Guidewire Software Inc.		35,895		3,934
*	IAC/InterActiveCorp		18,763		3,827
*	Zendesk Inc.		47,790		3,790
*	PTC Inc.		45,125		3,409
	Cognex Corp.		70,972		3,161
*	Aspen Technology Inc.		29,551		3,147
*	HubSpot Inc.		17,511		3,142
	Entegris Inc.		58,509		3,120
*	F5 Networks Inc.		24,450		2,933
	Universal Display Corp.		18,459		2,931
	Monolithic Power Systems Inc.		18,147		2,879
*	MongoDB Inc.		17,963		2,739
*	Alteryx Inc.		19,324		2,698
	Microchip Technology Inc.		28,493		2,585
*	Proofpoint Inc.		24,061		2,566
	Maxim Integrated Products Inc.		44,561		2,478
	Corning Inc.		103,053		2,459
	CDK Global Inc.		52,940		2,436
*	Take-Two Interactive Software Inc.		22,651		2,435
	Analog Devices Inc.		21,705		2,367
*	Ceridian HCM Holding Inc.		32,684		2,312
*	RealPage Inc.		33,778		2,165
*	Dell Technologies Inc.		47,986		1,942
*	Grubhub Inc.		38,825		1,868

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Manhattan Associates Inc.		27,405		1,846
*	Dropbox Inc. Class A		89,995		1,760
*	Nutanix Inc.		73,070		1,742
*	Smartsheet Inc. Class A		37,498		1,736
*	Avalara Inc.		19,812		1,679
*	Anaplan Inc.		37,340		1,678
*	Pure Storage Inc.		101,145		1,543
^{*,^}	Match Group Inc.		23,387		1,520
	Pegasystems Inc.		16,761		1,517
^{*,^}	Zscaler Inc.		27,515		1,431
*	Elastic NV		19,087		1,410
*	NCR Corp.		54,989		1,386
*	New Relic Inc.		21,510		1,210
*	FireEye Inc.		84,770		1,122
	Cognizant Technology Solutions Corp.		18,062		1,101
	Activision Blizzard Inc.		17,648		1,026
*	Dynatrace Inc.		30,297		979
*	Teradata Corp.		47,161		940
	HP Inc.		33,460		696
*	Zynga Inc.		78,559		527
	Ubiquiti Inc.		3,716		504
*	Pluralsight Inc. Class A		26,480		472
	Jabil Inc.		13,616		436
*	PagerDuty Inc.		18,275		376
	Skyworks Solutions Inc.		3,719		373
	Switch Inc.		24,947		358
	Sabre Corp.		20,532		280
	Dolby Laboratories Inc.		3,525		232
*	Cree Inc.		3,385		151
*	Medallia Inc.		5,624		140
*	IPG Photonics Corp.		1,065		136
*	SolarWinds Corp.		5,476		100
					*2,551,988*
*Utilities (0.2%)*
*	T-Mobile US Inc.		70,691		6,374
*	Zayo Group Holdings Inc.		97,972		3,428
					*9,802*

*Total Common Stocks (Cost $4,599,825)*					*6,285,151*

Coupon
*Temporary Cash Investments (0.2%)*
*Money Market Fund (0.2%)*
Vanguard Market Liquidity Fund	1.706	%	107,219	10,725

			Maturity Date	Face Amount ($000)
U.S. Government and Agency Obligations (0.0%)
United States Treasury Bill	1.543	%	4/16/20		121	121
United States Treasury Bill	1.551	%	5/21/20		700	698
						*819*
*Total Temporary Cash Investments (Cost $11,542)*						*11,544*

*Total Investments (100.0%) (Cost $4,611,367)*	*6,296,695*
*Other Assets and Liabilities—Net (0.0%)²*	*(2,018*	)
*Net Assets (100%)*	*6,294,677*

Cost rounded to $000.

*	Non-income-producing security.

Vanguard^®Russell 1000 Growth Index Fund

Schedule of Investments

February 29, 2020

^	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $3,869,000.
1	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
2	Collateral of $3,996,000 was received for securities on loan.
3	Securities with a value of $672,000 have been segregated as initial margin for open futures contracts.
	REIT—Real Estate Investment Trust.

This page intentionally left blank.

	© 2020 The Vanguard Group, Inc.
	All rights reserved.
	Vanguard Marketing Corporation, Distributor.
	SNA18482 042020

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
Common Stocks (99.8%)
Consumer Discretionary (12.5%)
*	Deckers Outdoor Corp.	30,624	5,322
*	Chegg Inc.	129,121	5,063
	Churchill Downs Inc.	38,309	4,813
*	SiteOne Landscape Supply Inc.	44,550	4,422
	Marriott Vacations Worldwide Corp.	45,157	4,370
	Texas Roadhouse Inc.	72,023	4,049
	Cracker Barrel Old Country Store Inc.	26,214	3,757
*	Eldorado Resorts Inc.	71,833	3,605
*	Penn National Gaming Inc.	119,804	3,543
	Strategic Education Inc.	23,256	3,427
	TEGNA Inc.	236,990	3,394
*	Rh	18,043	3,273
*	Taylor Morrison Home Corp.	142,500	3,209
*	Murphy USA Inc.	31,800	3,100
	KB Home	93,505	3,047
	Steven Madden Ltd.	91,539	2,993
*	National Vision Holdings Inc.	85,501	2,977
	Lithia Motors Inc. Class A	24,442	2,912
	Aaron's Inc.	73,674	2,898
	Wingstop Inc.	31,981	2,701
*	Fox Factory Holding Corp.	41,061	2,603
	LCI Industries	26,595	2,568
*	Stamps.com Inc.	18,019	2,543
*	Cimpress plc	21,703	2,526
*	Meritage Homes Corp.	39,500	2,507
*	Laureate Education Inc.	128,779	2,408
	Boyd Gaming Corp.	87,858	2,347
*	BJ's Wholesale Club Holdings Inc.	121,708	2,344
*	TRI Pointe Group Inc.	150,809	2,312
*	Adient plc	95,654	2,289
	Wolverine World Wide Inc.	86,875	2,284
	Dana Inc.	157,291	2,262
	American Eagle Outfitters Inc.	173,148	2,230
	MDC Holdings Inc.	55,038	2,165
*	Avis Budget Group Inc.	62,732	2,031
	Monro Inc.	35,642	2,000
*	Visteon Corp.	30,474	1,982
*	Crocs Inc.	75,180	1,967
	Jack in the Box Inc.	28,119	1,936
*	Cavco Industries Inc.	9,393	1,895
*	Shake Shack Inc.	31,644	1,881
*	Gray Television Inc.	99,413	1,881
*	Asbury Automotive Group Inc.	21,024	1,864
*	Meritor Inc.	81,864	1,857
*	Liberty Latin America Ltd.	122,024	1,854
*	YETI Holdings Inc.	60,779	1,839
*	Instructure Inc.	37,706	1,839
*	Adtalem Global Education Inc.	58,849	1,817
*	Dorman Products Inc.	29,380	1,782
	Winnebago Industries Inc.	33,903	1,759
	Callaway Golf Co.	101,852	1,729
	Bloomin' Brands Inc.	94,943	1,708
*	LGI Homes Inc.	21,867	1,648
*	Sally Beauty Holdings Inc.	131,645	1,638
	Group 1 Automotive Inc.	19,191	1,636
	Kontoor Brands Inc.	48,267	1,629
	Cheesecake Factory Inc.	45,436	1,619
	Red Rock Resorts Inc.	76,213	1,571
*	Fitbit Inc.	245,284	1,567
*	American Woodmark Corp.	18,377	1,539
*	WW International Inc.	50,956	1,529

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Gentherm Inc.	35,995	1,468
^{^}	Bed Bath & Beyond Inc.	133,065	1,438
	Dine Brands Global Inc.	17,436	1,427
*	Hertz Global Holdings Inc.	110,680	1,416
	La-Z-Boy Inc.	48,976	1,403
	Brinker International Inc.	40,795	1,401
*	SeaWorld Entertainment Inc.	51,455	1,400
*	Skyline Champion Corp.	54,943	1,400
	Cooper Tire & Rubber Co.	54,865	1,398
	Office Depot Inc.	593,345	1,394
	Papa John's International Inc.	24,134	1,390
	PriceSmart Inc.	24,563	1,368
*	Sleep Number Corp.	30,470	1,342
	Signet Jewelers Ltd.	56,556	1,319
*	Cardlytics Inc.	15,611	1,239
*	Central Garden & Pet Co. Class A	47,293	1,197
	Inter Parfums Inc.	19,184	1,152
	Meredith Corp.	43,523	1,147
	Rent-A-Center Inc.	53,809	1,146
	Core-Mark Holding Co. Inc.	49,547	1,140
*	Perdoceo Education Corp.	75,347	1,125
	Dave & Buster's Entertainment Inc.	33,690	1,112
*	Scientific Games Corp.	60,861	1,110
*	M/I Homes Inc.	29,605	1,102
	Viad Corp.	21,933	1,101
	Oxford Industries Inc.	18,174	1,098
*	Denny's Corp.	62,719	1,092
^{*,^}	Stitch Fix Inc. Class A	45,163	1,085
*	G-III Apparel Group Ltd.	48,209	1,078
	Scholastic Corp.	32,358	1,038
*	Liberty Media Corp-Liberty Braves Class C	39,253	1,020
	Standard Motor Products Inc.	22,764	1,002
	Matthews International Corp.	33,731	997
*	WillScot Corp.	56,291	987
*	Century Communities Inc.	29,620	987
*	Malibu Boats Inc.	22,280	979
	Acushnet Holdings Corp.	38,432	978
^{^}	Children's Place Inc.	16,562	954
*	Boot Barn Holdings Inc.	30,492	935
	Interface Inc.	63,281	923
	Designer Brands Inc. Class A	67,980	918
	Abercrombie & Fitch Co.	68,007	893
*	IMAX Corp.	57,274	892
*	Sonos Inc.	77,062	889
	Sturm Ruger & Co. Inc.	18,290	879
*	K12 Inc.	42,980	854
	Guess? Inc.	50,234	814
*	Shutterstock Inc.	20,685	797
*	Liberty Latin America Ltd. Class A	52,322	793
*	American Axle & Manufacturing Holdings Inc.	122,374	775
	Sonic Automotive Inc.	26,578	744
*	Quotient Technology Inc.	81,016	725
	Buckle Inc.	31,557	714
	EW Scripps Co.	59,130	704
*	America's Car-Mart Inc.	6,812	700
	BJ's Restaurants Inc.	20,911	689
	Big Lots Inc.	42,506	672
*	Cars.com Inc.	72,625	659
	Marcus Corp.	24,553	656
*	QuinStreet Inc.	50,583	652
*	Stoneridge Inc.	28,818	637
*	Houghton Mifflin Harcourt Co.	114,262	625
*	Universal Electronics Inc.	14,686	620
^{^}	Dillard's Inc. Class A	10,923	615

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	OneSpaWorld Holdings Ltd.	49,361	603
*	MSG Networks Inc.	47,007	594
*	Monarch Casino & Resort Inc.	12,378	585
	Ruth's Hospitality Group Inc.	30,269	579
*	Zumiez Inc.	21,813	579
*	American Outdoor Brands Corp.	58,085	579
*	Genesco Inc.	15,856	546
	Winmark Corp.	2,660	532
*	Gannett Co. Inc.	126,411	531
^{*,^}	GoPro Inc.	138,861	527
	National CineMedia Inc.	68,164	524
	Chico's FAS Inc.	127,572	512
	Tenneco Inc.	55,480	509
	Caleres Inc.	42,913	495
	Twin River Worldwide Holdings Inc.	18,920	492
	Camping World Holdings Inc.	35,935	492
*	1-800-Flowers.com Inc.	26,990	487
*	Vista Outdoor Inc.	63,212	465
*	elf Beauty Inc.	28,667	458
	Entercom Communications Corp. Class A	129,849	451
*	Central European Media Enterprises Ltd.	96,904	429
	National Presto Industries Inc.	5,270	414
*	Hudson Ltd. Class A	43,495	405
*	Michaels Cos. Inc.	91,638	393
*	Rosetta Stone Inc.	22,700	392
	Cato Corp. Class A	24,242	392
*	Chuy's Holdings Inc.	18,244	391
*	Red Robin Gourmet Burgers Inc.	14,144	389
*	MarineMax Inc.	22,971	389
*	Beazer Homes USA Inc.	30,796	378
	Carriage Services Inc. Class A	17,745	375
*	Hibbett Sports Inc.	19,032	371
*	American Public Education Inc.	16,395	365
^{^}	GameStop Corp. Class A	98,290	354
^{^}	AMC Entertainment Holdings Inc.	56,340	353
	Ethan Allen Interiors Inc.	26,310	347
*	Motorcar Parts of America Inc.	20,393	341
*	Liberty TripAdvisor Holdings Inc.	77,834	339
	Johnson Outdoors Inc.	5,372	335
*	Franklin Covey Co.	10,659	335
	Haverty Furniture Cos. Inc.	19,464	327
*	MasterCraft Boat Holdings Inc.	20,027	324
*	Regis Corp.	25,309	323
*	Cooper-Standard Holdings Inc.	18,290	316
*	Habit Restaurants Inc.	22,247	311
^{*,^}	Daily Journal Corp.	1,233	308
	Shoe Carnival Inc.	10,238	306
*	Golden Entertainment Inc	18,614	303
^{*,^}	Lumber Liquidators Holdings Inc.	30,898	303
*	Lindblad Expeditions Holdings Inc.	25,058	298
	Clarus Corp.	25,483	295
*	Liberty Media Corp-Liberty Braves Class A	11,150	290
*	Green Brick Partners Inc.	26,486	290
*	Sportsman's Warehouse Holdings Inc.	46,173	277
*	El Pollo Loco Holdings Inc.	21,222	274
*	Central Garden & Pet Co.	10,010	268
*	RealReal Inc.	18,975	265
*	Express Inc.	71,339	264
*	At Home Group Inc.	52,072	260
	Movado Group Inc.	17,124	252
*	Noodles & Co.	30,542	248
*	Fiesta Restaurant Group Inc.	25,323	245
^{*,^}	JC Penney Co. Inc.	352,213	243
	Citi Trends Inc.	12,081	239

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Hooker Furniture Corp.	12,641	238
*	Hemisphere Media Group Inc.	18,747	237
*	Fossil Group Inc.	50,970	234
	Collectors Universe Inc.	9,749	224
*	Boston Omaha Corp.	11,415	222
	Tribune Publishing Co.	18,944	217
*	Century Casinos Inc.	29,467	206
*	ZAGG Inc.	30,313	204
*	Del Taco Restaurants Inc.	31,178	200
	RCI Hospitality Holdings Inc.	9,705	196
*	Funko Inc.	23,721	192
^{*,^}	Overstock.com Inc.	29,599	191
	Nathan's Famous Inc.	3,164	188
*	Cumulus Media Inc. Class A	15,589	188
*	Drive Shack Inc.	65,311	187
	Emerald Holding Inc.	26,818	184
*	Vera Bradley Inc.	22,111	183
^{*,^}	Eros International plc	78,808	182
	Rocky Brands Inc.	7,466	182
^{^}	Tailored Brands Inc.	54,228	177
*	WideOpenWest Inc.	27,073	170
*	Select Interior Concepts Inc. Class A	22,794	170
*	Conn's Inc.	19,562	159
*	Carrols Restaurant Group Inc.	37,917	156
	Tilly's Inc.	24,021	156
	Tupperware Brands Corp.	53,309	152
*	MDC Partners Inc.	60,409	152
*	Barnes & Noble Education Inc.	45,097	149
*	Reading International Inc.	17,691	147
	Weyco Group Inc.	6,575	144
	Superior Group of Cos. Inc.	11,708	141
*	Delta Apparel Inc.	6,684	132
^{*,^}	Revlon Inc.	7,574	131
	Entravision Communications Corp. Class A	64,912	130
	Saga Communications Inc.	4,219	121
*	Lands' End Inc.	11,388	120
*	J Alexander's Holdings Inc.	14,232	117
*	Party City Holdco Inc.	58,089	116
*	Purple Innovation Inc. Class A	8,408	114
	Flexsteel Industries Inc.	8,179	112
*	Clear Channel Outdoor Holdings Inc.	53,993	112
*	Potbelly Corp.	22,078	110
*	Fluent Inc.	46,171	108
*	Biglari Holdings Inc. Class B	1,010	107
	Marine Products Corp.	8,191	103
	Bassett Furniture Industries Inc.	10,343	102
*	Marchex Inc.	38,231	99
^{*,^}	Gaia Inc.	11,600	98
	Escalade Inc.	11,306	96
*	Legacy Housing Corp.	6,409	92
*	Lee Enterprises Inc.	59,446	89
^{*,^}	Lovesac Co.	9,539	83
	Hamilton Beach Brands Holding Co.	6,976	81
	Lifetime Brands Inc.	12,716	81
^{*,^}	Duluth Holdings Inc.	11,623	80
	Kura Sushi USA Inc. Class A	3,697	69
*	Red Lion Hotels Corp.	26,149	67
*	Container Store Group Inc.	16,650	63
	Bluegreen Vacations Corp.	7,822	61
*	Inspired Entertainment Inc.	9,310	48
*	LiveXLive Media Inc.	36,654	46
*	Vince Holding Corp.	3,352	36
*	Centric Brands Inc.	17,688	36
	Ascena Retail Group Inc.	8,561	33

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
^{*,^}	Waitr Holdings Inc.	57,580	21
	J. Jill Inc.	18,013	15
*	Youngevity International Inc.	9,843	11
*	RTW RetailWinds Inc.	34,868	10
*	Biglari Holdings Inc. Class A	5	3
			253,101
Consumer Staples (2.6%)
*	Performance Food Group Co.	112,228	4,758
*	Helen of Troy Ltd.	27,377	4,506
*	Boston Beer Co. Inc. Class A	9,118	3,381
	Lancaster Colony Corp.	20,601	2,976
	Sanderson Farms Inc.	21,701	2,681
	J&J Snack Foods Corp.	16,486	2,651
	WD-40 Co.	14,959	2,580
*	Freshpet Inc.	37,500	2,492
*	Simply Good Foods Co.	90,058	1,987
*	Edgewell Personal Care Co.	58,989	1,791
*	Hostess Brands Inc.	130,414	1,658
	Vector Group Ltd.	121,022	1,406
	Universal Corp.	26,810	1,323
	Calavo Growers Inc.	17,681	1,281
	Cal-Maine Foods Inc.	34,437	1,202
^{^}	B&G Foods Inc.	69,227	1,025
	Coca-Cola Consolidated Inc.	5,122	1,006
	Medifast Inc.	12,074	1,003
	Fresh Del Monte Produce Inc.	33,482	918
*	USANA Health Sciences Inc.	13,671	904
*	BellRing Brands Inc. Class A	43,355	852
^{^}	Rite Aid Corp.	60,200	820
*	Chefs' Warehouse Inc.	26,746	819
	John B Sanfilippo & Son Inc.	9,254	650
	Andersons Inc.	34,507	634
	Tootsie Roll Industries Inc.	17,864	573
^{^}	PetMed Express Inc.	21,471	567
	Ingles Markets Inc.	15,433	552
^{*,^}	National Beverage Corp.	12,920	546
	SpartanNash Co.	39,346	489
	MGP Ingredients Inc.	14,149	407
	Weis Markets Inc.	10,434	389
*	United Natural Foods Inc.	58,497	378
*	Primo Water Corp.	26,334	369
	Limoneira Co.	17,024	284
*	Seneca Foods Corp.	7,193	250
^{^}	Turning Point Brands Inc.	8,938	234
*	Craft Brew Alliance Inc.	12,458	198
*	Celsius Holdings Inc.	31,219	185
*	Lifevantage Corp.	14,875	177
	Village Super Market Inc.	8,535	175
^{*,^}	New Age Beverages Corp.	82,910	167
*	GNC Holdings Inc.	88,506	149
^{*,^}	HF Foods Group Inc.	8,204	147
	Alico Inc.	4,348	142
*	Farmer Brothers Co.	11,372	140
*	22nd Century Group Inc.	127,962	95
*	Nature's Sunshine Products Inc.	9,455	78
	Natural Grocers by Vitamin Cottage Inc.	9,583	66
^{*,^}	Pyxus International Inc.	8,980	35
*	Bridgford Foods Corp.	1,840	32
*	Greenlane Holdings Inc. Class A	10,892	23
^{*,^}	cbdMD Inc.	11,255	11
			52,162
Energy (2.7%)
^{*,^}	Enphase Energy Inc.	100,110	4,902
*	Sunrun Inc.	123,262	2,384

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Arcosa Inc.	53,133	2,283
*	PDC Energy Inc.	109,231	2,079
	World Fuel Services Corp.	70,295	1,988
	Delek US Holdings Inc.	80,419	1,719
*	Dril-Quip Inc.	39,630	1,412
	Cactus Inc.	51,526	1,407
	Golar LNG Ltd.	103,658	1,328
*	Matador Resources Co.	121,468	1,171
*	Oceaneering International Inc.	108,435	1,143
*	CNX Resources Corp.	203,749	1,082
*	Renewable Energy Group Inc.	39,923	1,056
*	NOW Inc.	118,470	1,046
*	Helix Energy Solutions Group Inc.	155,339	1,042
	Warrior Met Coal Inc.	57,721	1,023
	Archrock Inc.	137,987	973
*	Callon Petroleum Co.	420,547	955
	CVR Energy Inc.	32,399	921
*	Southwestern Energy Co.	593,451	843
	Arch Coal Inc.	16,285	820
*	Magnolia Oil & Gas Corp. Class A	108,667	816
*	NexTier Oilfield Solutions Inc.	174,276	812
	SM Energy Co.	122,425	804
*	ProPetro Holding Corp.	87,383	765
*	TPI Composites Inc.	31,036	737
	Nabors Industries Ltd.	385,465	678
*	Par Pacific Holdings Inc.	38,643	641
	QEP Resources Inc.	263,471	593
*	SunPower Corp.	68,631	588
*	Oasis Petroleum Inc.	349,554	572
	DMC Global Inc	15,445	557
^{*,^}	Bloom Energy Corp. Class A	60,077	545
*	Ameresco Inc.	24,081	543
*	Vivint Solar Inc.	48,193	542
*	Oil States International Inc.	66,109	523
*	Northern Oil and Gas Inc.	324,225	470
*	Frank's International NV	116,522	457
	Green Plains Inc.	37,207	446
	Berry Corp.	68,608	437
*	Select Energy Services Inc.	65,900	428
*	REX American Resources Corp.	5,984	419
	Peabody Energy Corp.	70,229	410
*	Denbury Resources Inc.	526,687	396
^{^}	Liberty Oilfield Services Inc.	56,952	381
	SunCoke Energy Inc.	79,079	365
	Solaris Oilfield Infrastructure Inc.	33,706	357
*	Matrix Service Co.	29,315	354
*	Newpark Resources Inc.	97,255	341
*	Bonanza Creek Energy Inc.	20,637	336
^{*,^}	California Resources Corp.	52,620	334
*	Clean Energy Fuels Corp.	145,709	329
*	Talos Energy Inc.	21,813	310
	Brigham Minerals Inc. Class A	17,456	278
*	W&T Offshore Inc.	100,061	260
	Sunnova Energy International Inc.	14,752	255
*	Penn Virginia Corp.	14,779	235
	RPC Inc.	62,948	217
*	Laredo Petroleum Inc.	200,274	216
*	National Energy Services Reunited Corp.	25,983	216
^{*,^}	Diamond Offshore Drilling Inc.	70,327	215
*	Era Group Inc.	21,038	206
*	Noble Corp. plc	268,408	188
^{*,^}	Whiting Petroleum Corp.	100,606	186
^{*,^}	Tellurian Inc.	103,346	186
*	Geospace Technologies Corp.	14,317	177

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	SEACOR Marine Holdings Inc.	21,362	170
	Falcon Minerals Corp.	41,834	167
*	TETRA Technologies Inc.	129,939	164
	NACCO Industries Inc.	3,965	163
*	Exterran Corp.	31,432	160
*	CONSOL Energy Inc.	27,977	159
*	Gulfport Energy Corp.	175,140	144
	Evolution Petroleum Corp.	29,822	140
*	Natural Gas Services Group Inc.	13,889	137
*	Trecora Resources	22,962	130
*	Contura Energy Inc.	19,658	112
	Panhandle Oil and Gas Inc.	16,593	110
^{*,^}	Comstock Resources Inc.	16,799	101
*	Flotek Industries Inc.	59,040	93
*	Ring Energy Inc.	65,048	92
*	HighPoint Resources Corp.	123,503	84
*	Earthstone Energy Inc.	21,582	83
*	Montage Resources Corp.	22,940	80
*	Altus Midstream Co. Class A	54,625	80
*	PrimeEnergy Resources Corp.	568	74
^{*,^}	Seadrill Ltd.	64,679	71
*	Nine Energy Service Inc.	17,521	71
*	Covia Holdings Corp.	45,943	71
*	Forum Energy Technologies Inc.	88,037	69
*	SandRidge Energy Inc.	32,867	68
^{*,^}	Extraction Oil & Gas Inc.	92,109	63
	Amplify Energy Corp.	14,172	59
*	KLX Energy Services Holdings Inc.	23,050	56
*	RigNet Inc.	15,287	54
*	Goodrich Petroleum Corp.	9,915	53
*	NextDecade Corp.	13,637	52
*	Pacific Drilling SA	32,357	51
*	Smart Sand Inc.	23,499	38
*	Abraxas Petroleum Corp.	166,802	32
*	FTS International Inc.	33,180	31
	Hallador Energy Co.	22,331	29
*	Ramaco Resources Inc.	9,072	26
*	US Well Services Inc.	23,615	25
*	SilverBow Resources Inc.	7,840	22
*	Independence Contract Drilling Inc.	51,454	20
*	Unit Corp.	56,189	20
^{*,^}	Chaparral Energy Inc. Class A	31,875	17
	Mammoth Energy Services Inc.	15,596	17
*	NCS Multistage Holdings Inc.	12,246	13
*	Rosehill Resources Inc.	12,448	10
			54,179
Financial Services (25.7%)
	Rexford Industrial Realty Inc.	120,651	5,643
	First Industrial Realty Trust Inc.	137,293	5,286
	EastGroup Properties Inc.	41,305	5,193
^{^}	Blackstone Mortgage Trust Inc.	137,381	4,954
	Healthcare Realty Trust Inc.	144,362	4,952
	Radian Group Inc.	220,377	4,681
	Essent Group Ltd.	104,951	4,580
	Sabra Health Care REIT Inc.	210,696	4,119
	STAG Industrial Inc.	145,752	4,078
	First Financial Bankshares Inc.	141,814	4,076
	Terreno Realty Corp.	71,898	3,945
	Stifel Financial Corp.	72,417	3,942
	Valley National Bancorp	422,361	3,928
	Physicians Realty Trust	205,729	3,880
	National Health Investors Inc.	46,421	3,794
	Selective Insurance Group Inc.	63,779	3,558
	Glacier Bancorp Inc.	94,650	3,530

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	QTS Realty Trust Inc.	62,723	3,523
	FirstCash Inc.	45,732	3,518
	RLI Corp.	43,509	3,497
	Ryman Hospitality Properties Inc.	50,026	3,477
	IBERIABANK Corp.	56,903	3,425
	Community Bank System Inc.	55,372	3,367
	Agree Realty Corp.	45,211	3,247
	PS Business Parks Inc.	21,810	3,240
	Hancock Whitney Corp.	94,583	3,169
	United Bankshares Inc.	106,427	3,074
	Federated Hermes Inc.	105,116	3,033
	Piedmont Office Realty Trust Inc.	136,535	2,948
*	eHealth Inc.	24,856	2,917
	Old National Bancorp	184,246	2,904
	Pebblebrook Hotel Trust	141,635	2,862
	Invesco Mortgage Capital Inc.	176,621	2,840
	Home BancShares Inc.	169,047	2,833
	UMB Financial Corp.	48,293	2,808
*	Cannae Holdings Inc.	73,656	2,747
	Lexington Realty Trust Class B	263,539	2,733
	Apollo Commercial Real Estate Finance Inc.	167,987	2,721
	Kennedy-Wilson Holdings Inc.	134,065	2,709
	Kinsale Capital Group Inc.	22,264	2,704
	CVB Financial Corp.	145,670	2,701
	Ares Management Corp. Class A	78,017	2,699
	Sunstone Hotel Investors Inc.	244,584	2,678
	CenterState Bank Corp.	131,407	2,658
	PotlatchDeltic Corp.	72,124	2,650
	BancorpSouth Bank	108,167	2,647
*	Redfin Corp.	97,644	2,642
	CNO Financial Group Inc.	164,874	2,641
	Investors Bancorp Inc.	247,888	2,613
	Columbia Banking System Inc.	78,525	2,607
	Atlantic Union Bankshares Corp.	87,128	2,591
	Washington Federal Inc.	86,183	2,585
	Cathay General Bancorp	83,688	2,576
	Fulton Financial Corp.	174,794	2,526
	American Equity Investment Life Holding Co.	98,207	2,483
	South State Corp.	36,442	2,482
	Independent Bank Corp.	36,198	2,444
	RLJ Lodging Trust	183,659	2,426
	Washington REIT	87,576	2,351
	Houlihan Lokey Inc.	45,813	2,347
	Hannon Armstrong Sustainable Infrastructure Capital Inc.	68,994	2,342
	Ameris Bancorp	66,628	2,277
*	Cushman & Wakefield plc	122,974	2,237
*	Enstar Group Ltd.	12,494	2,229
	Simmons First National Corp.	103,770	2,219
	First Financial Bancorp	106,214	2,188
	National Storage Affiliates Trust	64,783	2,186
	American Assets Trust Inc.	52,704	2,185
	CareTrust REIT Inc.	104,274	2,176
	WesBanco Inc.	70,681	2,164
*	Genworth Financial Inc.	551,950	2,153
	Four Corners Property Trust Inc.	74,780	2,145
	Acadia Realty Trust	93,461	2,135
	United Community Banks Inc.	85,785	2,125
	First Midwest Bancorp Inc.	115,981	2,105
	Redwood Trust Inc.	122,128	2,086
	First Merchants Corp.	59,520	2,082
	International Bancshares Corp.	60,596	2,066
	Urban Edge Properties	125,744	2,037
	PennyMac Mortgage Investment Trust	97,943	2,027
	Essential Properties Realty Trust Inc.	88,045	2,017

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Argo Group International Holdings Ltd.		35,655		2,006
	DiamondRock Hospitality Co.		218,790		1,995
	Uniti Group Inc.		201,826		1,970
	EVERTEC Inc.		66,183		1,964
	Walker & Dunlop Inc.		30,217		1,960
	Cadence BanCorp Class A		137,073		1,935
	WSFS Financial Corp.		56,004		1,930
	LTC Properties Inc.		42,996		1,928
	CoreCivic Inc.		130,059		1,926
	Easterly Government Properties Inc.		81,013		1,926
	New York Mortgage Trust Inc.		335,848		1,914
*	PRA Group Inc.		49,160		1,908
	GEO Group Inc.		129,929		1,902
	Trustmark Corp.		70,094		1,886
	Retail Opportunity Investments Corp.		124,742		1,871
	First BanCorp		233,904		1,857
	Xenia Hotels & Resorts Inc.		123,449		1,847
	FGL Holdings		158,881		1,818
	Global Net Lease Inc.		98,228		1,812
*	Green Dot Corp.		52,576		1,796
	ServisFirst Bancshares Inc.		51,936		1,794
	Mack-Cali Realty Corp.		94,345		1,791
	Independent Bank Group Inc.		38,488		1,782
	Capitol Federal Financial Inc.		144,005		1,758
	Horace Mann Educators Corp.		45,046		1,754
	Banner Corp.		38,216		1,744
	Renasant Corp.		60,647		1,718
	Ladder Capital Corp.		112,466		1,715
	Towne Bank		72,800		1,679
	Bank of NT Butterfield & Son Ltd.		60,434		1,673
*	NMI Holdings Inc.		71,040		1,658
	Moelis & Co.		51,796		1,655
	Great Western Bancorp Inc.		61,454		1,651
	Westamerica Bancorporation		28,462		1,646
	Pacific Premier Bancorp Inc.		63,433		1,638
	Heartland Financial USA Inc.		37,964		1,627
	Diversified Healthcare Trust		258,535		1,626
	Hope Bancorp Inc.		131,790		1,609
	Hilltop Holdings Inc.		76,305		1,589
	ProAssurance Corp.		58,205		1,580
*	Axos Financial Inc.		63,106		1,572
	NBT Bancorp Inc.		46,643		1,571
	Artisan Partners Asset Management Inc.		54,478		1,557
	Cohen & Steers Inc.		24,825		1,555
	Northwest Bancshares Inc.		109,598		1,522
	Office Properties Income Trust		52,069		1,517
	Universal Health Realty Income Trust		14,015		1,510
	Newmark Group Inc.		156,745		1,497
	Hamilton Lane Inc.		24,028		1,493
	Kite Realty Group Trust		90,658		1,464
	Industrial Logistics Properties Trust		70,788		1,462
*	Cardtronics plc		40,101		1,454
	National General Holdings Corp.		73,936		1,440
	Monmouth Real Estate Investment Corp.		100,936		1,433
	Alexander & Baldwin Inc.		74,994		1,410
	First Interstate BancSystem Inc.		41,317		1,407
*	Seacoast Banking Corp. of Florida		55,163		1,374
	S&T Bancorp Inc.		41,558		1,366
	AMERISAFE Inc.		20,843		1,358
	Eagle Bancorp Inc.		35,759		1,338
	Provident Financial Services Inc.		66,718		1,333
	Veritex Holdings Inc.		54,905		1,322
	Independence Realty Trust Inc.		99,533		1,320
	Employers Holdings Inc.		34,171		1,317

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	James River Group Holdings Ltd.		32,341		1,307
	Seritage Growth Properties		36,936		1,270
	Park National Corp.		14,508		1,267
	Meta Financial Group Inc.		38,501		1,265
	First Commonwealth Financial Corp.		107,028		1,263
	Safety Insurance Group Inc.		15,975		1,258
*	Encore Capital Group Inc.		33,764		1,255
	Tompkins Financial Corp.		15,721		1,250
	First Busey Corp.		56,169		1,240
	OceanFirst Financial Corp.		59,722		1,221
	American Finance Trust Inc.		116,832		1,215
	Flagstar Bancorp Inc.		37,924		1,209
	Berkshire Hills Bancorp Inc.		49,321		1,204
	City Holding Co.		17,198		1,202
	Brookline Bancorp Inc.		85,811		1,190
^{^}	Tanger Factory Outlet Centers Inc.		98,524		1,180
	Sandy Spring Bancorp Inc.		38,006		1,169
	ARMOUR Residential REIT Inc.		63,877		1,155
	Realogy Holdings Corp.		124,176		1,151
^{^}	Innovative Industrial Properties Inc.		12,368		1,137
	Southside Bancshares Inc.		35,099		1,131
	Colony Credit Real Estate Inc.		88,698		1,129
	PJT Partners Inc.		24,692		1,110
	RPT Realty		85,327		1,106
	Lakeland Financial Corp.		26,944		1,101
*	Mr Cooper Group Inc.		82,277		1,056
	Summit Hotel Properties Inc.		113,051		1,048
	Piper Sandler Cos.		14,936		1,047
	BancFirst Corp.		20,351		1,044
	Waddell & Reed Financial Inc.		75,809		1,043
	Getty Realty Corp.		36,548		1,036
	Nelnet Inc.		19,481		1,034
	TPG RE Finance Trust Inc.		53,598		1,030
	First Bancorp		32,038		1,028
	Enterprise Financial Services Corp.		26,553		1,016
	Armada Hoffler Properties Inc.		60,241		1,010
	Community Healthcare Trust Inc.		20,997		1,000
	TriCo Bancshares		29,264		990
	National Bank Holdings Corp.		32,254		987
	iStar Inc.		64,776		980
*	Evo Payments Inc.		38,725		979
	Granite Point Mortgage Trust Inc.		59,096		970
^{*,^}	Trupanion Inc.		31,432		966
	First Defiance Financial Corp.		40,345		965
	NexPoint Residential Trust Inc.		21,677		965
	PennyMac Financial Services Inc.		27,188		959
*	Ambac Financial Group Inc.		49,476		951
	Kearny Financial Corp.		86,506		944
	Heritage Financial Corp.		40,133		931
	Stewart Information Services Corp.		25,633		927
	OFG Bancorp		55,194		924
*	Focus Financial Partners Inc.		33,496		911
	Investors Real Estate Trust		12,704		895
	United Fire Group Inc.		23,186		889
	Boston Private Financial Holdings Inc.		90,696		885
*	Columbia Financial Inc.		56,901		883
	Meridian Bancorp Inc.		52,443		866
*	Triumph Bancorp Inc.		25,560		866
	Carolina Financial Corp.		25,604		830
	LendingClub Corp.		73,468		809
	Franklin Street Properties Corp.		112,358		801
	German American Bancorp Inc.		26,690		797
*	INTL. FCStone Inc.		17,429		794
*	Marcus & Millichap Inc.		24,774		792

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Virtus Investment Partners Inc.		7,167		791
	ConnectOne Bancorp Inc.		37,170		781
*	Everi Holdings Inc.		75,030		780
	Preferred Bank		15,137		774
	Stock Yards Bancorp Inc.		21,866		764
	Banc of California Inc.		49,566		760
	Lakeland Bancorp Inc.		52,610		758
	Federal Agricultural Mortgage Corp.		9,877		741
	Univest Financial Corp.		31,580		739
	Capstead Mortgage Corp.		103,112		732
	Bryn Mawr Bank Corp.		21,824		725
	Cass Information Systems Inc.		15,420		724
*	Third Point Reinsurance Ltd.		80,935		722
	Central Pacific Financial Corp.		29,997		718
	Alexander's Inc.		2,305		717
	TrustCo Bank Corp. NY		104,453		717
*	St. Joe Co.		36,270		713
	Washington Trust Bancorp Inc.		16,619		713
	Chatham Lodging Trust		49,711		693
*	Enova International Inc.		35,984		692
	Allegiance Bancshares Inc.		20,811		690
*	Palomar Holdings Inc.		13,582		690
	Front Yard Residential Corp.		54,302		689
*	Nicolet Bankshares Inc.		10,251		681
	City Office REIT Inc.		58,563		679
	Northfield Bancorp Inc.		47,974		678
	Goosehead Insurance Inc.		12,489		677
	Camden National Corp.		16,467		675
	Universal Insurance Holdings Inc.		32,506		673
	Brightsphere Investment Group Inc.		71,775		671
	Urstadt Biddle Properties Inc.		32,485		670
*	Bancorp Inc.		54,928		668
	HomeStreet Inc.		24,552		665
	Community Trust Bancorp Inc.		17,012		658
	1st Source Corp.		15,488		651
*	MBIA Inc.		82,553		644
	Gladstone Commercial Corp.		33,707		636
	Safehold Inc.		11,636		636
	Origin Bancorp Inc.		20,937		633
*	Customers Bancorp Inc.		31,095		631
	Great Southern Bancorp Inc.		12,144		623
	First Foundation Inc.		42,873		621
	Heritage Commerce Corp.		60,031		616
	Horizon Bancorp Inc.		40,978		615
	QCR Holdings Inc.		16,091		612
	FB Financial Corp.		18,677		608
	RMR Group Inc.		16,297		607
	Banco Latinoamericano de Comercio Exterior SA		33,810		605
	WisdomTree Investments Inc.		145,913		592
	National Western Life Group Inc.		2,456		587
	Dime Community Bancshares Inc.		34,742		583
	RE/MAX Holdings Inc.		19,583		571
	Midland States Bancorp Inc.		23,951		571
	UMH Properties Inc.		39,189		569
	Saul Centers Inc.		13,207		568
	Western Asset Mortgage Capital Corp.		56,652		568
	First Financial Corp.		14,052		561
	Peoples Bancorp Inc.		19,651		561
	Opus Bank		23,676		560
	Peapack Gladstone Financial Corp.		20,370		559
	New Senior Investment Group Inc.		91,829		557
	Ellington Financial Inc.		33,714		557
^{^}	Washington Prime Group Inc.		200,959		553
	Bank of Marin Bancorp		14,284		545

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	KKR Real Estate Finance Trust Inc.		27,507		540
	First Bancshares Inc.		18,083		540
	Flushing Financial Corp.		29,514		536
	B. Riley Financial Inc.		22,447		531
*	TriState Capital Holdings Inc.		26,658		530
	AG Mortgage Investment Trust Inc.		35,305		529
	First of Long Island Corp.		25,217		522
	Hanmi Financial Corp.		33,055		516
	Whitestone REIT		41,792		514
	Ready Capital Corp.		34,879		506
	Mercantile Bank Corp.		17,506		502
	FBL Financial Group Inc. Class A		10,424		498
	CBTX Inc.		19,818		494
	Global Medical REIT Inc.		35,132		491
	CorEnergy Infrastructure Trust Inc.		14,018		489
	CatchMark Timber Trust Inc.		53,181		489
	Bridge Bancorp Inc.		17,489		481
	Preferred Apartment Communities Inc.		50,415		481
	Franklin Financial Network Inc.		14,162		474
*	Watford Holdings Ltd.		20,715		473
*	World Acceptance Corp.		5,936		464
	State Auto Financial Corp.		18,477		462
	Independent Bank Corp.		23,520		460
*	I3 Verticals Inc.		15,817		458
	Cowen Inc.		30,616		458
	Ares Commercial Real Estate Corp.		29,818		455
	Arrow Financial Corp.		14,238		451
	First Mid Bancshares Inc.		15,897		448
	Retail Value Inc.		16,112		448
	Financial Institutions Inc.		16,619		447
	Byline Bancorp Inc.		25,526		447
	First Community Bankshares Inc.		16,730		438
	Live Oak Bancshares Inc.		28,346		436
*	Atlantic Capital Bancshares Inc.		23,686		429
*	Equity Bancshares Inc.		16,382		429
	Hersha Hospitality Trust Class A		36,825		425
	Diamond Hill Investment Group Inc.		3,339		423
	Farmers National Banc Corp.		28,013		421
	Carter Bank & Trust		24,739		418
	Waterstone Financial Inc.		25,123		418
	Jernigan Capital Inc.		23,255		417
	Sculptor Capital Management Inc. Class A		18,319		415
	People's Utah Bancorp		17,326		415
	One Liberty Properties Inc.		17,220		415
	Dynex Capital Inc.		24,221		414
	HomeTrust Bancshares Inc.		17,005		404
	CNB Financial Corp.		15,983		401
*	Assetmark Financial Holdings Inc.		15,008		398
	Orchid Island Capital Inc.		69,111		396
	Capital City Bank Group Inc.		14,692		392
*	Amerant Bancorp Inc.		21,208		392
	MidWestOne Financial Group Inc.		13,045		375
	Bank First Corp.		6,314		374
	Sierra Bancorp		15,631		372
	Exantas Capital Corp.		32,391		371
	Republic Bancorp Inc.		10,356		370
	American National Bankshares Inc.		11,785		364
	West Bancorporation Inc.		17,606		360
	CorePoint Lodging Inc.		43,837		349
*	Tejon Ranch Co.		22,992		347
	Anworth Mortgage Asset Corp.		105,843		346
*	FRP Holdings Inc.		7,559		342
	Bar Harbor Bankshares		16,713		341
	Old Second Bancorp Inc.		31,667		337

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Peoples Financial Services Corp.		7,524		330
	Business First Bancshares Inc.		13,598		327
*	Metropolitan Bank Holding Corp.		7,651		327
	PCSB Financial Corp.		17,578		323
	Civista Bancshares Inc.		16,740		320
	Cambridge Bancorp		4,679		320
	Heritage Insurance Holdings Inc.		28,450		318
*	Citizens Inc. Class A		53,973		315
^{*,^}	Health Insurance Innovations Inc.		10,508		309
	Consolidated-Tomoka Land Co.		5,338		307
	Southern National Bancorp of Virginia Inc.		21,511		305
*	Bridgewater Bancshares Inc.		24,254		303
	RBB Bancorp		17,679		298
*	Donnelley Financial Solutions Inc.		33,931		295
*	Southern First Bancshares Inc.		7,732		295
	Citizens & Northern Corp.		12,937		294
	Farmers & Merchants Bancorp Inc.		10,949		291
	Global Indemnity Ltd.		9,006		286
	First Bancorp Inc.		11,186		285
	HarborOne Bancorp Inc.		28,484		285
	HCI Group Inc.		6,651		283
	Southern Missouri Bancorp Inc.		8,564		281
*	Red River Bancshares Inc.		5,333		277
	Hingham Institution for Savings		1,506		276
*	Spirit of Texas Bancshares Inc.		14,919		275
	Home Bancorp Inc.		8,271		274
	Macatawa Bank Corp.		28,320		273
	Gladstone Land Corp.		20,025		269
	Enterprise Bancorp Inc.		9,759		268
*	Greenlight Capital Re Ltd.		31,677		267
	Great Ajax Corp.		18,788		265
*	EZCORP Inc.		55,147		265
^{*,^}	Paysign Inc.		32,931		264
	SmartFinancial Inc.		13,821		262
	Summit Financial Group Inc.		11,903		261
	Bluerock Residential Growth REIT Inc.		24,476		254
*	BRP Group Inc. Class A		16,331		252
*	Baycom Corp.		11,787		251
	First Internet Bancorp		10,268		249
	Ames National Corp.		9,634		249
	First Choice Bancorp		10,953		248
	Investors Title Co.		1,509		247
	Oppenheimer Holdings Inc.		10,368		246
	Northrim BanCorp Inc.		7,016		245
	Guaranty Bancshares Inc.		8,832		244
	BBX Capital Corp.		69,722		243
	Metrocity Bankshares Inc.		17,227		242
	Greenhill & Co. Inc.		16,514		241
	Cherry Hill Mortgage Investment Corp.		16,904		241
	Amalgamated Bank		15,048		241
	Cedar Realty Trust Inc.		92,747		240
	National Bankshares Inc.		6,868		240
	Braemar Hotels & Resorts Inc.		32,577		240
*	Regional Management Corp.		9,292		238
*	On Deck Capital Inc.		68,204		238
	Premier Financial Bancorp Inc.		14,284		238
*	Forestar Group Inc.		13,077		234
	Western New England Bancorp Inc.		25,999		230
	ACNB Corp.		7,427		226
*	Howard Bancorp Inc.		14,284		225
	Penns Woods Bancorp Inc.		7,449		225
	Luther Burbank Corp.		21,411		223
	Century Bancorp Inc.		3,083		223
	Westwood Holdings Group Inc.		8,755		222

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Arlington Asset Investment Corp.		38,805		220
	Reliant Bancorp Inc.		11,054		219
	Shore Bancshares Inc.		14,013		218
	South Plains Financial Inc.		10,832		217
	First Capital Inc.		3,503		215
	Territorial Bancorp Inc.		8,466		215
	First Business Financial Services Inc.		8,932		214
^{*,^}	eXp World Holdings Inc.		22,370		214
	Investar Holding Corp.		10,000		214
	Capstar Financial Holdings Inc.		15,838		213
	MutualFirst Financial Inc.		6,346		213
*	Rafael Holdings Inc. Class B		11,323		212
	Codorus Valley Bancorp Inc.		10,239		211
	Central Valley Community Bancorp		12,242		211
	Ashford Hospitality Trust Inc.		97,351		210
	LCNB Corp.		13,281		210
	United Insurance Holdings Corp.		22,356		210
	FS Bancorp Inc.		4,341		207
	Independence Holding Co.		5,513		205
	Bankwell Financial Group Inc.		7,185		205
*	FVCBankcorp Inc.		13,104		202
*	Hallmark Financial Services Inc.		14,137		200
	Evans Bancorp Inc.		5,085		200
	Parke Bancorp Inc.		10,725		198
	Bank of Commerce Holdings		18,791		196
	Orrstown Financial Services Inc.		10,995		196
	SB One Bancorp		8,861		194
	Norwood Financial Corp.		6,237		193
*	Richmond Mutual Bancorporation Inc.		14,171		191
	Community Bankers Trust Corp.		23,307		190
	Safeguard Scientifics Inc.		21,145		187
	Timberland Bancorp Inc.		8,019		186
	Marlin Business Services Corp.		9,443		186
*	PICO Holdings Inc.		19,525		185
	MVB Financial Corp.		10,454		184
*	International Money Express Inc.		19,554		184
	Tiptree Inc.		27,561		181
*	Stratus Properties Inc.		6,327		181
*	Ocwen Financial Corp.		145,052		181
*	Select Bancorp Inc.		17,080		179
	PCB Bancorp		13,398		179
^{^}	Pennsylvania REIT		75,863		179
	Farmland Partners Inc.		30,259		179
	First Bank		17,960		175
	Clipper Realty Inc.		15,471		174
	1st Constitution Bancorp		9,510		174
	BankFinancial Corp.		15,249		173
	BCB Bancorp Inc.		15,075		171
	Merchants Bancorp		9,429		170
	BRT Apartments Corp.		10,817		169
	ESSA Bancorp Inc.		10,194		169
	Community Financial Corp.		5,275		167
*	Pioneer Bancorp Inc.		12,171		166
*	Oportun Financial Corp.		7,873		166
	Bank of Princeton		6,032		164
	FedNat Holding Co.		12,517		163
*	Esquire Financial Holdings Inc.		6,972		160
	Northeast Bank		8,972		160
	C&F Financial Corp.		3,504		159
	Donegal Group Inc.		11,112		159
*	MainStreet Bancshares Inc.		7,801		158
	Mid Penn Bancorp Inc.		7,436		158
*	MMA Capital Holdings Inc.		5,230		158
*	Malvern Bancorp Inc.		8,141		156

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Curo Group Holdings Corp.		16,847		156
	Prudential Bancorp Inc.		9,406		155
	HBT Financial Inc.		9,854		153
	First Northwest Bancorp		9,533		152
	Franklin Financial Services Corp.		4,890		152
	Protective Insurance Corp.		10,497		150
*	NI Holdings Inc.		10,502		148
^{^}	Fidelity D&D Bancorp Inc.		2,996		148
	Riverview Bancorp Inc.		22,770		147
	Unity Bancorp Inc.		8,507		146
*	Coastal Financial Corp.		8,601		141
	Mackinac Financial Corp.		10,063		141
	Chemung Financial Corp.		3,870		139
	Level One Bancorp Inc.		5,701		138
*	Pacific Mercantile Bancorp		20,945		137
*	Republic First Bancorp Inc.		44,828		136
	Hawthorn Bancshares Inc.		6,147		134
*	Medallion Financial Corp.		22,482		133
	Crawford & Co. Class A		17,677		132
*	ProSight Global Inc.		9,658		129
	Sterling Bancorp Inc.		18,366		129
	Provident Financial Holdings Inc.		6,431		127
*	PDL Community Bancorp		9,033		127
	Colony Bankcorp Inc.		8,534		127
	Oak Valley Bancorp		7,588		127
	OP Bancorp		14,293		126
	Peoples Bancorp of North Carolina Inc.		4,971		126
	United Security Bancshares		14,413		125
	Union Bankshares Inc.		4,156		125
	Ohio Valley Banc Corp.		4,445		124
	Pzena Investment Management Inc.		18,920		124
	FNCB Bancorp Inc.		18,563		123
	First Financial Northwest Inc.		8,753		122
	GAIN Capital Holdings Inc.		20,559		121
*	Capital Bancorp Inc.		8,700		120
	Silvercrest Asset Management Group Inc.		9,286		107
	Provident Bancorp Inc.		9,389		103
	Greene County Bancorp Inc.		3,661		99
*	Altisource Portfolio Solutions SA		6,198		98
	First Guaranty Bancshares Inc.		5,705		97
*	CrossFirst Bankshares Inc.		7,339		97
	CBL & Associates Properties Inc.		182,068		97
	GAMCO Investors Inc. Class A		5,608		87
	Associated Capital Group Inc.		2,072		85
*	Maui Land & Pineapple Co. Inc.		7,389		81
*	Elevate Credit Inc.		24,370		80
	Bank7 Corp.		4,052		73
	Alerus Financial Corp.		3,252		67
*	Siebert Financial Corp.		8,009		66
*	Silvergate Capital Corp. Class A		3,470		51
	Griffin Industrial Realty Inc.		1,026		41
*	Transcontinental Realty Investors Inc.		1,112		35
*	American Realty Investors Inc.		2,626		33
	Value Line Inc.		1,150		33
*	Avalon GloboCare Corp.		22,971		33
	CIM Commercial Trust Corp.		1,554		22
*	GWG Holdings Inc.		2,187		20
*	Priority Technology Holdings Inc.		7,855		16
					519,764
Health Care (18.5%)
*	Teladoc Health Inc.		78,731		9,838
*	Novocure Ltd.		94,702		6,890
*	Haemonetics Corp.		55,833		6,048
*	Amedisys Inc.		34,196		5,950

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	HealthEquity Inc.		75,511		5,361
*	ACADIA Pharmaceuticals Inc.		122,758		5,247
*	Repligen Corp.		57,004		4,880
*	Reata Pharmaceuticals Inc.		24,381		4,748
*	Tandem Diabetes Care Inc.		61,120		4,563
*	Syneos Health Inc.		67,910		4,302
*	Nevro Corp.		32,600		4,243
*	Acceleron Pharma Inc.		49,110		4,220
*	Iovance Biotherapeutics Inc.		127,894		4,209
*	Wright Medical Group NV		137,853		4,170
*	Global Blood Therapeutics Inc.		63,164		4,040
*	LHC Group Inc.		32,820		3,986
*	Globus Medical Inc.		82,906		3,750
*	NuVasive Inc.		56,606		3,725
*	LivaNova plc		52,996		3,695
*	AMN Healthcare Services Inc.		50,161		3,692
*	Omnicell Inc.		45,156		3,679
*	PTC Therapeutics Inc.		65,955		3,617
*	Arrowhead Pharmaceuticals Inc.		101,818		3,600
*	FibroGen Inc.		85,714		3,583
*	Neogen Corp.		55,906		3,396
*	Ultragenyx Pharmaceutical Inc.		59,614		3,343
*	Integer Holdings Corp.		35,422		3,194
*	Blueprint Medicines Corp.		58,410		3,162
*	MyoKardia Inc.		48,507		3,075
*	Halozyme Therapeutics Inc.		156,327		3,059
*	Immunomedics Inc.		191,053		3,057
*	Momenta Pharmaceuticals Inc.		107,472		3,040
*	Quidel Corp.		38,636		2,984
*	Tenet Healthcare Corp.		112,147		2,947
*	NeoGenomics Inc.		103,934		2,944
*	Emergent BioSolutions Inc.		49,789		2,922
*	Select Medical Holdings Corp.		119,853		2,869
	CONMED Corp.		29,672		2,808
*	Medpace Holdings Inc.		30,112		2,708
*	Amicus Therapeutics Inc.		279,435		2,667
*	Mirati Therapeutics Inc.		29,744		2,662
*	Natera Inc.		68,012		2,578
*	Intercept Pharmaceuticals Inc.		27,477		2,526
*	iRhythm Technologies Inc.		28,894		2,513
*	Arena Pharmaceuticals Inc.		55,134		2,459
	Ensign Group Inc.		55,158		2,455
*	Insmed Inc.		97,177		2,420
*	HMS Holdings Corp.		95,739		2,199
	Patterson Cos. Inc.		91,263		2,171
*	Axsome Therapeutics Inc.		27,448		2,141
*	Apellis Pharmaceuticals Inc.		61,198		2,119
*	Merit Medical Systems Inc.		58,450		2,105
*	Prestige Consumer Healthcare Inc.		55,100		2,059
*	Ironwood Pharmaceuticals Inc.		167,880		2,021
*	ChemoCentryx Inc.		44,454		1,989
*	Pacira BioSciences Inc.		44,773		1,942
*	Fate Therapeutics Inc.		66,078		1,929
*	Invitae Corp.		94,584		1,928
*	Biohaven Pharmaceutical Holding Co. Ltd.		42,715		1,886
*	Glaukos Corp.		42,443		1,867
*	Epizyme Inc.		84,734		1,816
*	Ra Pharmaceuticals Inc.		37,985		1,776
*	Ligand Pharmaceuticals Inc.		18,702		1,751
*	Heron Therapeutics Inc.		91,845		1,713
*	Xencor Inc.		51,683		1,679
*	Avanos Medical Inc.		51,655		1,674
*	Kodiak Sciences Inc.		25,717		1,645
*	AtriCure Inc.		41,479		1,594

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	BioTelemetry Inc.		36,245		1,548
*	STAAR Surgical Co.		48,480		1,521
	Turning Point Therapeutics Inc.		30,233		1,499
*	REGENXBIO Inc.		36,464		1,459
*	Magellan Health Inc.		23,977		1,439
	US Physical Therapy Inc.		13,718		1,430
*	Cardiovascular Systems Inc.		37,686		1,418
*	Forty Seven Inc.		24,260		1,407
^{*,^}	Esperion Therapeutics Inc.		27,659		1,397
*	R1 RCM Inc.		113,370		1,392
*	Myriad Genetics Inc.		77,641		1,368
*	Endo International plc		245,316		1,354
*	Allscripts Healthcare Solutions Inc.		176,993		1,335
*	Brookdale Senior Living Inc.		201,828		1,326
^{*,^}	Allakos Inc.		21,255		1,325
*	Coherus Biosciences Inc.		68,336		1,322
*	Corcept Therapeutics Inc.		104,579		1,320
*	Principia Biopharma Inc.		20,086		1,297
*	NanoString Technologies Inc.		36,171		1,290
*	Veracyte Inc.		51,554		1,273
*	Inspire Medical Systems Inc.		14,698		1,262
*	Editas Medicine Inc.		56,574		1,255
^{*,^}	Tabula Rasa HealthCare Inc.		21,225		1,192
*	Theravance Biopharma Inc.		48,902		1,191
*	TG Therapeutics Inc.		94,078		1,181
^{*,^}	Aimmune Therapeutics Inc.		49,203		1,172
*	Zogenix Inc.		46,652		1,170
*	Deciphera Pharmaceuticals Inc.		21,551		1,147
^{*,^}	Allogene Therapeutics Inc.		42,452		1,146
*	Akebia Therapeutics Inc.		128,895		1,143
*	Revance Therapeutics Inc.		49,295		1,140
	Luminex Corp.		45,581		1,129
*	Shockwave Medical Inc.		27,798		1,116
*	Dicerna Pharmaceuticals Inc.		56,347		1,112
*	Arvinas Inc.		23,151		1,091
*	Sangamo Therapeutics Inc.		125,544		1,071
*	Karyopharm Therapeutics Inc.		65,025		1,063
*	Radius Health Inc.		49,305		1,038
*	CareDx Inc.		44,494		1,037
*	Addus HomeCare Corp.		13,594		1,037
*	Denali Therapeutics Inc.		52,077		1,030
*	Intra-Cellular Therapies Inc.		48,537		1,024
*	CryoLife Inc.		39,842		1,021
*	Tactile Systems Technology Inc.		20,050		1,011
*	Natus Medical Inc.		36,879		991
	National HealthCare Corp.		13,352		991
*	Supernus Pharmaceuticals Inc.		54,020		972
	Atrion Corp.		1,573		969
*	Varex Imaging Corp.		40,886		949
*	Enanta Pharmaceuticals Inc.		18,598		946
*	Innoviva Inc.		70,025		943
*	RadNet Inc.		45,699		934
*	Inogen Inc.		19,964		914
*	Hanger Inc.		39,576		913
*	Athenex Inc.		74,598		912
*	Alector Inc.		33,011		907
*	Portola Pharmaceuticals Inc.		83,323		842
*	Cytokinetics Inc.		60,318		841
*	Collegium Pharmaceutical Inc.		35,108		834
*	Aerie Pharmaceuticals Inc.		45,868		803
*	Intersect ENT Inc.		33,307		795
*	Kadmon Holdings Inc.		171,123		794
*	Cerus Corp.		153,643		790
*	Bridgebio Pharma Inc.		24,694		787

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	NextGen Healthcare Inc.		59,814		782
*	Providence Service Corp.		12,525		774
*	Y-mAbs Therapeutics Inc.		25,887		762
*	Vericel Corp		49,061		757
*	Tricida Inc.		23,775		756
*	Pennant Group Inc.		27,648		751
*	Evolent Health Inc.		80,876		747
*	Twist Bioscience Corp.		23,980		734
*	Madrigal Pharmaceuticals Inc.		8,515		734
*	Heska Corp.		7,672		732
*	Adverum Biotechnologies Inc		58,935		725
	National Research Corp.		12,951		712
*	ImmunoGen Inc.		158,327		705
*	Silk Road Medical Inc.		17,568		700
*	HealthStream Inc.		28,554		694
*	Retrophin Inc.		44,804		694
*	Orthofix Medical Inc.		19,588		692
*	Atara Biotherapeutics Inc.		55,823		678
*	PetIQ Inc.		21,605		672
*	Codexis Inc.		57,241		667
*	CorVel Corp.		9,665		666
*	G1 Therapeutics Inc.		37,001		664
*	Lantheus Holdings Inc.		42,194		656
*	Tivity Health Inc.		51,708		655
^{*,^}	Cara Therapeutics Inc.		43,390		652
	NextCure Inc.		15,389		643
*	Rocket Pharmaceuticals Inc.		32,579		635
*	OPKO Health Inc.		418,016		627
*	Vanda Pharmaceuticals Inc.		56,727		626
^{^}	Cortexyme Inc.		12,422		624
*	Eidos Therapeutics Inc.		12,315		623
*	Gossamer Bio Inc.		46,946		616
^{*,^}	Omeros Corp.		51,156		609
*	Anika Therapeutics Inc.		14,571		608
*	Krystal Biotech Inc.		11,382		608
*	Amphastar Pharmaceuticals Inc.		39,374		606
*	Rhythm Pharmaceuticals Inc.		31,730		605
*	Axonics Modulation Technologies Inc.		17,069		605
*	Constellation Pharmaceuticals Inc.		16,871		596
*	Flexion Therapeutics Inc.		36,574		578
*	UroGen Pharma Ltd.		20,568		561
*	Intellia Therapeutics Inc.		41,939		560
	Phibro Animal Health Corp.		22,067		557
*	Antares Pharma Inc.		175,926		545
^{*,^}	ZIOPHARM Oncology Inc.		174,441		539
*	Arcus Biosciences Inc.		35,277		537
*	Pacific Biosciences of California Inc.		156,013		530
	LeMaitre Vascular Inc.		17,838		508
*	Surmodics Inc.		14,355		501
*	Amneal Pharmaceuticals Inc.		129,234		498
	Option Care Health Inc.		33,627		496
*	BioCryst Pharmaceuticals Inc.		161,274		484
^{*,^}	NGM Biopharmaceuticals Inc.		26,477		478
*	ANI Pharmaceuticals Inc.		9,919		476
*	AngioDynamics Inc.		40,414		464
*	Prothena Corp. plc		43,495		464
*	Community Health Systems Inc.		93,465		461
^{^}	Novavax Inc.		28,797		461
	Owens & Minor Inc.		67,330		460
*	Axogen Inc.		37,114		459
*	Eagle Pharmaceuticals Inc.		9,864		453
*	OrthoPediatrics Corp.		9,743		452
*	Assembly Biosciences Inc.		24,956		452
*	MacroGenics Inc.		51,511		452

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Kura Oncology Inc.	37,207	449
*	Catalyst Pharmaceuticals Inc.	105,404	444
*	Progenics Pharmaceuticals Inc.	94,007	444
*	BioDelivery Sciences International Inc.	90,555	440
*	Kindred Biosciences Inc.	40,169	437
*	Karuna Therapeutics Inc.	4,970	434
*	Avrobio Inc.	22,441	433
*	Homology Medicines Inc.	27,046	433
*	Surgery Partners Inc.	26,174	430
^{*,^}	Inovio Pharmaceuticals Inc.	100,371	430
*	Phathom Pharmaceuticals Inc.	11,675	422
*	PDL BioPharma Inc.	122,879	418
*	Viking Therapeutics Inc.	70,304	416
^{*,^}	Clovis Oncology Inc.	54,527	411
^{*,^}	TherapeuticsMD Inc.	240,053	406
^{^}	Livongo Health Inc.	16,050	401
*	AnaptysBio Inc.	26,732	400
*	OraSure Technologies Inc.	65,930	398
^{*,^}	Mallinckrodt plc	91,288	391
*	Rigel Pharmaceuticals Inc.	183,835	390
*	Avid Bioservices Inc.	61,010	384
^{*,^}	Accelerate Diagnostics Inc.	29,983	384
*	Cue Biopharma Inc.	21,693	379
*	Odonate Therapeutics Inc.	12,808	379
*	Cutera Inc.	15,275	379
*	Pfenex Inc.	32,436	376
*	Triple-S Management Corp.	25,013	375
	Computer Programs & Systems Inc.	13,873	372
*	BioSpecifics Technologies Corp.	6,701	370
*	Meridian Bioscience Inc.	45,998	368
*	Cross Country Healthcare Inc.	38,597	366
^{^}	Vir Biotechnology Inc.	7,802	363
	SpringWorks Therapeutics Inc.	11,321	362
*	Puma Biotechnology Inc.	33,429	360
^{*,^}	Dynavax Technologies Corp.	90,295	356
*	Ardelyx Inc.	51,433	356
	Progyny Inc.	12,564	346
*	Spectrum Pharmaceuticals Inc.	120,844	346
*	SI-BONE Inc.	17,755	343
*	Mersana Therapeutics Inc.	38,940	337
	Phreesia Inc.	10,757	334
	Utah Medical Products Inc.	3,800	332
*	Quanterix Corp.	14,481	330
*	Calithera Biosciences Inc.	50,923	330
*	CytomX Therapeutics Inc.	48,808	327
^{*,^}	CEL-SCI Corp.	29,402	323
^{*,^}	Rubius Therapeutics Inc.	37,920	317
*	Precision BioSciences Inc.	38,951	312
*	Recro Pharma Inc.	21,427	307
*	Lannett Co. Inc.	35,230	306
^{*,^}	Corbus Pharmaceuticals Holdings Inc.	64,345	305
*	MeiraGTx Holdings plc	18,626	302
^{*,^}	Precigen Inc.	79,293	301
*	Stemline Therapeutics Inc.	49,843	300
*	SIGA Technologies Inc.	59,771	299
*	Agenus Inc.	117,501	297
*	Sorrento Therapeutics Inc.	136,496	296
*	Molecular Templates Inc.	18,245	294
	Applied Therapeutics Inc.	6,946	289
*	Voyager Therapeutics Inc.	26,289	287
*	Accuray Inc.	96,117	285
*	Translate Bio Inc.	37,559	285
*	AMAG Pharmaceuticals Inc.	36,715	285
*	Bioxcel Therapeutics Inc.	7,530	282

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Kiniksa Pharmaceuticals Ltd.	15,128	279
	Invacare Corp.	36,615	278
	IGM Biosciences Inc.	5,371	276
*	Albireo Pharma Inc.	11,770	275
	Health Catalyst Inc.	9,009	274
*	Scholar Rock Holding Corp.	18,869	266
^{*,^}	Viela Bio Inc.	5,925	259
^{*,^}	MannKind Corp.	203,210	258
^{*,^}	XBiotech Inc.	20,255	248
*	Alphatec Holdings Inc.	42,398	248
*	Fluidigm Corp.	74,665	248
*	Crinetics Pharmaceuticals Inc.	11,973	246
	Stoke Therapeutics Inc.	9,910	245
*	Magenta Therapeutics Inc.	20,808	245
*	TransMedics Group Inc.	15,469	243
*	Eiger BioPharmaceuticals Inc	25,417	241
*	SeaSpine Holdings Corp.	17,052	241
*	Aprea Therapeutics Inc.	7,003	240
*	Minerva Neurosciences Inc.	32,402	236
^{*,^}	Akcea Therapeutics Inc.	13,765	234
*	RTI Surgical Holdings Inc.	62,911	233
^{*,^}	Geron Corp.	200,897	231
*	Gritstone Oncology Inc.	26,882	226
*	Beyondspring Inc.	13,912	221
^{*,^}	Zynex Inc.	16,951	221
*	ViewRay Inc.	76,441	219
*	Aduro Biotech Inc.	71,735	219
^{*,^}	Ocular Therapeutix Inc.	46,479	219
*	Apyx Medical Corp.	36,125	219
*	Syros Pharmaceuticals Inc.	37,132	217
	Oyster Point Pharma Inc.	6,107	216
*	GenMark Diagnostics Inc.	60,252	210
*	Joint Corp.	14,169	210
*	Cellular Biomedicine Group Inc.	13,057	208
^{*,^}	WaVe Life Sciences Ltd.	24,407	206
*	Syndax Pharmaceuticals Inc.	21,815	205
*	CytoSorbents Corp.	33,901	204
*	VBI Vaccines Inc.	166,067	199
*	Concert Pharmaceuticals Inc.	23,185	196
*	Replimune Group Inc.	14,068	195
*	Aeglea BioTherapeutics Inc.	28,256	193
*	MediciNova Inc.	45,547	191
*	Rockwell Medical Inc.	67,571	190
*	Affimed NV	79,736	188
*	UNITY Biotechnology Inc.	30,970	186
^{*,^}	Senseonics Holdings Inc.	131,951	185
*	KalVista Pharmaceuticals Inc.	13,684	184
*	Anavex Life Sciences Corp.	47,216	180
*	Sientra Inc.	41,956	176
*	Athersys Inc.	144,415	173
^{*,^}	Evolus Inc.	20,025	172
*	Paratek Pharmaceuticals Inc.	35,241	168
*	Atreca Inc.	7,082	167
*	ChromaDex Corp.	44,908	166
*	Verrica Pharmaceuticals Inc.	13,866	165
*	Chiasma Inc.	36,812	164
*	Optinose Inc.	26,948	163
*	American Renal Associates Holdings Inc.	19,728	159
*	ADMA Biologics Inc.	54,261	158
*	Pieris Pharmaceuticals Inc.	49,446	154
*	La Jolla Pharmaceutical Co.	22,336	152
*	Genesis Healthcare Inc.	91,654	151
*	TCR2 Therapeutics Inc.	12,628	150
*	Protagonist Therapeutics Inc.	18,844	147

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	MEI Pharma Inc.	75,199	145
^{^}	CorMedix Inc.	27,519	143
*	Five Prime Therapeutics Inc.	36,709	141
*	Vapotherm Inc.	16,205	140
	X4 Pharmaceuticals Inc.	13,012	139
*	Marinus Pharmaceuticals Inc.	54,875	137
	Satsuma Pharmaceuticals Inc.	4,802	137
*	Frequency Therapeutics Inc.	6,242	135
*	Spero Therapeutics Inc.	13,874	132
*	GlycoMimetics Inc.	36,459	132
*	IntriCon Corp.	8,775	131
^{*,^}	Kala Pharmaceuticals Inc.	24,113	129
*	Palatin Technologies Inc.	247,664	126
*	OptimizeRx Corp.	15,141	126
*	Cymabay Therapeutics Inc.	76,100	126
*	Lexicon Pharmaceuticals Inc.	45,204	125
	Castle Biosciences Inc.	4,158	124
*	Harpoon Therapeutics Inc.	8,111	124
*	Seres Therapeutics Inc.	39,032	123
*	Misonix Inc.	8,711	121
*	Lineage Cell Therapeutics Inc.	118,960	120
*	Akorn Inc.	101,737	118
^{*,^}	Catasys Inc.	7,800	118
*	iRadimed Corp.	4,933	117
*	Apollo Medical Holdings Inc.	6,642	116
*	Akero Therapeutics Inc.	5,290	115
*	Adamas Pharmaceuticals Inc.	24,986	114
*	Abeona Therapeutics Inc.	36,966	114
*	89bio Inc.	3,188	114
*	Sutro Biopharma Inc.	11,613	113
*	AcelRx Pharmaceuticals Inc.	85,120	112
*	BioLife Solutions Inc.	7,882	112
*	Strongbridge Biopharma plc	40,030	111
^{*,^}	Zynerba Pharmaceuticals Inc.	25,271	108
*	Cyclerion Therapeutics Inc.	25,084	107
*	Hookipa Pharma Inc.	10,812	107
*	Cabaletta Bio Inc.	7,078	106
*	Enzo Biochem Inc.	48,570	103
*	Xeris Pharmaceuticals Inc.	28,718	102
*	Prevail Therapeutics Inc.	7,828	100
*	Castlight Health Inc.	109,465	99
*	CASI Pharmaceuticals Inc.	54,845	97
*	Aldeyra Therapeutics Inc.	25,166	96
^{*,^}	Galectin Therapeutics Inc.	44,335	94
*	Chimerix Inc.	52,864	94
*	Evofem Biosciences Inc.	15,401	91
^{*,^}	Savara Inc.	39,416	90
^{*,^}	EyePoint Pharmaceuticals Inc.	68,374	88
*	Mustang Bio Inc.	30,188	88
*	Fulcrum Therapeutics Inc.	4,622	87
	Morphic Holding Inc.	5,471	86
*	Eloxx Pharmaceuticals Inc.	27,197	85
*	Pulse Biosciences Inc.	12,364	85
*	Personalis Inc.	9,415	82
*	Millendo Therapeutics Inc.	10,412	80
*	Jounce Therapeutics Inc.	17,363	78
^{*,^}	Tyme Technologies Inc.	65,077	77
*	Assertio Therapeutics Inc.	71,436	77
^{*,^}	Evelo Biosciences Inc.	15,094	76
*	Kaleido Biosciences Inc.	12,321	74
*	Cerecor Inc.	24,005	73
^{*,^}	Marker Therapeutics Inc.	29,389	73
*	LogicBio Therapeutics Inc.	9,011	72
*	Kezar Life Sciences Inc.	16,397	72

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Solid Biosciences Inc.	21,586	71
*	Acorda Therapeutics Inc.	47,531	68
*	Calyxt Inc.	10,104	64
^{*,^}	BioSig Technologies Inc.	17,347	63
*	PhaseBio Pharmaceuticals Inc.	14,629	62
	Exagen Inc.	3,594	61
^{*,^}	Soliton Inc.	5,793	61
*	Liquidia Technologies Inc.	14,604	60
^{*,^}	Baudax Bio Inc.	8,576	60
*	Conformis Inc.	68,481	53
*	Celcuity Inc.	6,276	53
*	Menlo Therapeutics Inc.	17,028	50
*	Osmotica Pharmaceuticals plc	8,574	50
^{*,^}	Enochian Biosciences Inc.	14,936	49
	Mirum Pharmaceuticals Inc.	2,919	48
*	Oncocyte Corp.	22,417	48
*	Checkpoint Therapeutics Inc.	27,492	48
*	Organogenesis Holdings Inc. Class A	12,188	48
*	Neuronetics Inc.	14,464	42
*	Aclaris Therapeutics Inc.	33,438	38
*	Synlogic Inc.	16,555	34
*	Galera Therapeutics Inc.	1,990	34
	RAPT Therapeutics Inc.	1,692	33
*	Tocagen Inc.	23,045	33
	Axcella Health Inc.	8,467	32
*^,§	Alder BioPharmaceuticals CVR Exp. 12/31/2024	32,046	28
*	AgeX Therapeutics Inc.	23,712	27
*	Centogene NV	2,041	27
*	resTORbio Inc.	17,829	25
	Passage Bio Inc.	1,088	24
^{*,^}	PolarityTE Inc.	16,744	23
	TransEnterix Inc.	19,111	23
	Tela Bio Inc.	1,339	21
*	Acer Therapeutics Inc.	6,035	20
*	Neon Therapeutics Inc.	13,196	20
^{*,^}	ElectroCore Inc.	15,087	11
*^,§	Oncternal Therapeutics Inc. CVR	846	2
^§	Synergy Pharmaceuticals Inc.	224,815	1
*^,§	Alexion Pharmaceuticals, Inc. CVR Exp. 06/29/2024	1,953	1
			373,854
Materials & Processing (6.3%)
*	Trex Co. Inc.	64,059	6,127
*	RBC Bearings Inc.	26,439	4,526
	Cabot Microelectronics Corp.	31,609	4,402
	Simpson Manufacturing Co. Inc.	48,805	3,877
	Louisiana-Pacific Corp.	128,786	3,664
	Rexnord Corp.	115,936	3,381
	Balchem Corp.	35,104	3,316
	Universal Forest Products Inc.	64,910	3,042
*	Builders FirstSource Inc.	124,322	2,823
	AAON Inc.	44,793	2,464
	PolyOne Corp.	98,245	2,433
*	Summit Materials Inc.	122,680	2,397
	Commercial Metals Co.	128,516	2,347
	Innospec Inc.	26,510	2,294
	Sensient Technologies Corp.	46,193	2,272
	Quaker Chemical Corp.	14,314	2,255
*	Beacon Roofing Supply Inc.	74,034	2,199
	HB Fuller Co.	55,518	2,178
*	Ingevity Corp.	45,902	2,067
	Compass Minerals International Inc.	37,212	2,030
*	Novagold Resources Inc.	252,552	2,015
	Advanced Drainage Systems Inc.	47,340	1,982
*	Masonite International Corp.	26,865	1,975

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Stepan Co.	22,310	1,959
	Carpenter Technology Corp.	51,346	1,887
	Mueller Water Products Inc.	170,938	1,872
*	Gibraltar Industries Inc.	35,218	1,784
*	BMC Stock Holdings Inc.	72,611	1,781
	Minerals Technologies Inc.	37,980	1,704
	Belden Inc.	42,594	1,701
^{^}	Cleveland-Cliffs Inc.	292,639	1,700
	Mueller Industries Inc.	60,491	1,693
	Comfort Systems USA Inc.	39,659	1,674
*	Installed Building Products Inc.	24,711	1,632
	Kaiser Aluminum Corp.	17,205	1,627
	Boise Cascade Co.	42,373	1,503
*	Livent Corp.	159,974	1,429
	Hecla Mining Co.	535,696	1,414
*	JELD-WEN Holding Inc.	73,676	1,385
	Worthington Industries Inc.	42,253	1,344
	Patrick Industries Inc.	24,629	1,301
*	GCP Applied Technologies Inc.	59,078	1,150
	Schweitzer-Mauduit International Inc.	33,751	1,138
*	Coeur Mining Inc.	259,958	1,081
	Neenah Inc.	18,283	1,056
*	Ferro Corp.	88,550	1,029
	Greif Inc. Class A	28,710	1,015
	Materion Corp.	22,149	1,004
*	GMS Inc.	43,451	993
	Trinseo SA	42,897	939
*	PGT Innovations Inc.	61,637	935
	Orion Engineered Carbons SA	65,764	934
	Apogee Enterprises Inc.	28,649	865
*	AK Steel Holding Corp.	344,094	795
*	MRC Global Inc.	85,780	746
	Tronox Holdings plc Class A	99,659	731
	Chase Corp.	8,006	711
	Griffon Corp.	39,254	683
	PH Glatfelter Co.	47,028	671
*	Verso Corp.	38,130	622
	Quanex Building Products Corp.	35,614	598
*	PQ Group Holdings Inc.	41,380	549
	Myers Industries Inc.	38,774	526
	Tredegar Corp.	28,395	484
*	OMNOVA Solutions Inc.	47,774	483
	American Vanguard Corp.	31,585	482
*	Clearwater Paper Corp.	17,402	475
*	US Concrete Inc.	17,474	469
	Schnitzer Steel Industries Inc.	27,548	454
*	Koppers Holdings Inc.	20,435	447
*	AdvanSix Inc.	30,238	439
	Insteel Industries Inc.	20,258	403
	Hawkins Inc.	10,652	381
*	Cornerstone Building Brands Inc.	50,104	368
	US Silica Holdings Inc.	79,963	367
*	UFP Technologies Inc.	7,360	363
	NN Inc.	45,758	355
*	Kraton Corp.	34,200	346
	Haynes International Inc.	13,632	345
*	Foundation Building Materials Inc.	22,067	344
*	Unifi Inc.	15,712	336
*	Northwest Pipe Co.	10,419	329
*	Century Aluminum Co.	54,746	317
*	Landec Corp.	28,099	288
	FutureFuel Corp.	28,016	285
*	Forterra Inc.	19,991	271
	Caesarstone Ltd.	24,606	266

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Gold Resource Corp.	65,824	265
	Kronos Worldwide Inc.	24,693	247
	Omega Flex Inc.	3,150	247
	Greif Inc.	6,117	245
*	TimkenSteel Corp.	43,625	221
^{*,^}	Amyris Inc.	64,688	206
*	Intrepid Potash Inc.	103,215	183
*	Lawson Products Inc.	4,518	181
	Oil-Dri Corp. of America	5,747	175
	United States Lime & Minerals Inc.	2,163	174
*	LB Foster Co.	10,795	170
*	Veritiv Corp.	14,054	169
	Eastern Co.	5,798	148
*	Ryerson Holding Corp.	17,459	145
	Rayonier Advanced Materials Inc.	52,558	129
	Olympic Steel Inc.	10,142	122
^{*,^}	Energy Fuels Inc.	101,094	119
*	BlueLinx Holdings Inc.	9,893	116
^{*,^}	Uranium Energy Corp.	191,153	115
	Culp Inc.	12,173	111
*	Synalloy Corp.	9,118	104
*	Concrete Pumping Holdings Inc.	17,612	91
*	Marrone Bio Innovations Inc.	58,655	66
*	Armstrong Flooring Inc.	19,159	51
*	LSB Industries Inc.	23,677	46
	Valhi Inc.	32,810	46
*	NL Industries Inc.	8,556	29
	CompX International Inc.	1,880	26
			127,271
Other (0.1%)¹
	PPD Inc.	13,614	380
*	Reynolds Consumer Products Inc.	10,195	294
*	Arcutis Biotherapeutics Inc.	4,077	108
	Schrodinger Inc.	1,741	81
*	REVOLUTION Medicines Inc.	1,225	38
	Beam Therapeutics Inc.	1,500	34
^{*,^,§}	Tobira Therapeutics CVR Exp. 12/31/2028	6,201	28
*	1Life Healthcare Inc.	1,021	22
*	Black Diamond Therapeutics Inc.	673	18
*	Bill.Com Holdings Inc.	289	16
^{*,^}	Casper Sleep Inc.	1,530	14
^*,§	A Schulman Inc. CVR	30,360	13
^{*,^,§}	Corium CVR	31,548	6
^*,§	NewStar Financial Inc. CVR	18,788	5
^*,§	Media General Inc. CVR	85,418	3
^*,§	Omthera Pharmeceuticals Rights	2,012	1
^*,§	Clinical Data CVR	913	—
			1,061
Producer Durables (13.9%)
*	Generac Holdings Inc.	66,670	6,866
*	Axon Enterprise Inc.	63,600	4,921
	Tetra Tech Inc.	59,490	4,811
	MSA Safety Inc.	38,472	4,681
	EMCOR Group Inc.	60,841	4,680
*	Darling Ingredients Inc.	179,015	4,601
*	FTI Consulting Inc.	40,582	4,569
	MAXIMUS Inc.	69,263	4,365
	Brink's Co.	54,428	4,261
	Exponent Inc.	56,389	4,153
	KBR Inc.	154,356	4,007
*	Aerojet Rocketdyne Holdings Inc.	79,627	3,924
*	TopBuild Corp.	36,496	3,686
	John Bean Technologies Corp.	33,993	3,293
*	MasTec Inc.	65,429	3,211

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	UniFirst Corp.	16,498	3,065
	EnerSys	46,542	2,866
*	Itron Inc.	37,351	2,833
*	ASGN Inc.	55,695	2,824
	Watts Water Technologies Inc.	30,062	2,823
	Barnes Group Inc.	51,390	2,760
	Insperity Inc.	40,939	2,754
	GATX Corp.	38,188	2,732
*	ExlService Holdings Inc.	36,543	2,728
	Moog Inc.	35,095	2,707
*	Advanced Disposal Services Inc.	78,816	2,606
	Franklin Electric Co. Inc.	50,365	2,603
*	Proto Labs Inc.	29,432	2,579
*	TriNet Group Inc.	48,758	2,577
	ESCO Technologies Inc.	27,861	2,533
	Kennametal Inc.	89,366	2,484
*	Saia Inc.	28,290	2,470
	Brady Corp. Class A	52,174	2,470
*	Advanced Energy Industries Inc.	41,506	2,469
	Applied Industrial Technologies Inc.	41,825	2,467
	SkyWest Inc.	53,710	2,438
*	Casella Waste Systems Inc.	49,997	2,422
	ABM Industries Inc.	72,587	2,390
*	Allegheny Technologies Inc.	137,240	2,345
*	Chart Industries Inc.	39,270	2,235
	Healthcare Services Group Inc.	81,160	2,235
	Herman Miller Inc.	64,155	2,197
	Korn Ferry	61,450	2,150
	Albany International Corp.	33,397	2,140
*	Spirit Airlines Inc.	74,777	2,127
	Altra Industrial Motion Corp.	70,021	2,109
	Otter Tail Corp.	43,062	2,093
	Triton International Ltd.	58,922	2,025
*	SPX Corp.	47,580	1,995
*	Navistar International Corp.	54,074	1,963
	Allegiant Travel Co.	14,154	1,918
	Federal Signal Corp.	65,235	1,892
*	Atkore International Group Inc.	50,991	1,882
	Badger Meter Inc.	31,177	1,877
*	Welbilt Inc.	141,550	1,871
	Mobile Mini Inc.	47,866	1,866
	Hillenbrand Inc.	79,405	1,858
	Cubic Corp.	34,081	1,855
	McGrath RentCorp	26,406	1,834
	Aircastle Ltd.	57,042	1,817
	Forward Air Corp.	30,721	1,813
	Covanta Holding Corp.	128,956	1,723
*	SPX FLOW Inc.	45,684	1,680
	Kaman Corp.	30,187	1,674
	Werner Enterprises Inc.	49,320	1,657
*	Hub Group Inc.	35,239	1,629
*	Kratos Defense & Security Solutions Inc.	98,314	1,599
	Matson Inc.	46,369	1,540
	Steelcase Inc.	94,890	1,539
	HNI Corp.	46,782	1,536
	Deluxe Corp.	45,976	1,531
	Terex Corp.	69,185	1,523
	ICF International Inc.	19,812	1,505
*	OSI Systems Inc.	18,407	1,496
*	CBIZ Inc.	55,985	1,458
*	Huron Consulting Group Inc.	24,464	1,452
	Tennant Co.	19,623	1,404
*	Sykes Enterprises Inc.	41,724	1,322
*	Enerpac Tool Group Corp. Class A	60,063	1,284

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Helios Technologies Inc.	32,003	1,272
	Rush Enterprises Inc. Class A	30,173	1,265
	AAR Corp.	36,377	1,257
*	TriMas Corp.	48,962	1,241
	EnPro Industries Inc.	22,480	1,213
*	AeroVironment Inc.	23,242	1,194
	Alamo Group Inc.	10,634	1,178
	Lindsay Corp.	11,791	1,168
^{*,^}	Plug Power Inc.	267,155	1,159
*	Air Transport Services Group Inc.	63,815	1,142
	Raven Industries Inc.	39,249	1,127
	US Ecology Inc.	26,337	1,108
	Kadant Inc.	11,985	1,088
	Encore Wire Corp.	22,215	1,088
	SFL Corp. Ltd.	89,295	1,084
	CSW Industrials Inc.	16,236	1,069
*	FARO Technologies Inc.	18,651	1,068
	Douglas Dynamics Inc.	24,450	1,064
	Hawaiian Holdings Inc.	50,410	1,053
	AZZ Inc.	28,396	1,048
	Mesa Laboratories Inc.	4,370	1,046
	Granite Construction Inc.	51,253	1,041
	Triumph Group Inc.	54,135	1,029
*	Harsco Corp.	85,120	1,021
*	Dycom Industries Inc.	33,199	981
*	Herc Holdings Inc.	26,332	966
	Scorpio Tankers Inc.	48,077	951
	Knoll Inc.	53,564	945
	Primoris Services Corp.	48,458	920
	Astec Industries Inc.	24,235	910
*	SP Plus Corp.	24,913	910
	Heartland Express Inc.	50,222	899
	Standex International Corp.	13,494	856
	Greenbrier Cos. Inc.	35,085	850
*	Vicor Corp.	19,430	840
	ACCO Brands Corp.	104,204	835
	H&E Equipment Services Inc.	34,852	828
	Marten Transport Ltd.	42,326	827
	MTS Systems Corp.	19,653	789
	Columbus McKinnon Corp.	25,181	783
*	CIRCOR International Inc.	21,322	767
*	SEACOR Holdings Inc.	19,100	712
*	Atlas Air Worldwide Holdings Inc.	25,450	680
	Argan Inc.	16,159	674
	Kforce Inc.	22,084	673
*	Great Lakes Dredge & Dock Corp.	66,442	644
*	Vectrus Inc.	12,310	641
	Pitney Bowes Inc.	187,322	641
*	Tutor Perini Corp.	43,795	635
	Wabash National Corp.	57,542	632
	Kimball International Inc.	39,032	632
*	TrueBlue Inc.	42,197	628
*	Thermon Group Holdings Inc.	35,208	619
	Gorman-Rupp Co.	19,300	617
*	Conduent Inc.	188,064	615
	Kelly Services Inc.	36,254	602
*	Aegion Corp.	33,409	602
*	NV5 Global Inc.	11,162	598
*	Tidewater Inc.	42,396	589
	TTEC Holdings Inc.	15,639	585
*	CryoPort Inc.	34,473	576
	Ennis Inc.	27,996	563
	DHT Holdings Inc.	99,955	555
	ArcBest Corp.	27,913	553

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	International Seaways Inc.	27,563	548
*	Echo Global Logistics Inc.	29,344	541
	Spartan Motors Inc.	36,560	539
	Hyster-Yale Materials Handling Inc.	11,084	534
*	Ducommun Inc.	11,735	524
*	Astronics Corp.	24,989	507
*	DXP Enterprises Inc.	17,804	505
	Nordic American Tankers Ltd.	152,138	490
*	Manitowoc Co. Inc.	38,416	479
*	BrightView Holdings Inc.	34,135	478
*	Textainer Group Holdings Ltd.	57,594	475
	Barrett Business Services Inc.	7,926	475
	Luxfer Holdings plc	30,041	466
	Heidrick & Struggles International Inc.	20,135	449
*	MYR Group Inc.	17,544	448
*	CAI International Inc.	17,944	444
	Teekay Tankers Ltd. Class A	26,391	437
*	Heritage-Crystal Clean Inc.	15,993	421
	Resources Connection Inc.	33,586	421
*	Team Inc.	32,744	417
*	Forrester Research Inc.	11,460	413
	Hackett Group Inc.	26,739	412
*	Energy Recovery Inc.	41,095	404
*	Modine Manufacturing Co.	54,064	403
*	Sterling Construction Co. Inc.	28,501	389
	CRA International Inc.	8,175	380
	Costamare Inc.	56,018	366
	Miller Industries Inc.	12,069	359
*	Willdan Group Inc.	10,914	336
*	Dorian LPG Ltd.	29,841	332
	Powell Industries Inc.	9,743	326
*	Construction Partners Inc. Class A	19,083	325
*	Vishay Precision Group Inc.	11,387	313
	Allied Motion Technologies Inc.	7,707	297
*	Blue Bird Corp.	16,506	295
	Park Aerospace Corp.	20,316	283
	Systemax Inc.	13,448	281
	VSE Corp.	9,508	280
*	Teekay Corp.	74,820	274
*	Arlo Technologies Inc.	81,718	268
*	Napco Security Technologies Inc.	12,624	257
*	Diamond S Shipping Inc.	24,228	250
	GasLog Ltd.	44,140	248
	Park-Ohio Holdings Corp.	9,470	232
	REV Group Inc.	29,629	232
*	CECO Environmental Corp.	33,301	225
*	Lydall Inc.	18,557	221
*	Transcat Inc.	7,484	216
*	IES Holdings Inc.	8,938	208
*	Titan Machinery Inc.	20,601	208
	Ardmore Shipping Corp.	36,207	199
	Hurco Cos. Inc.	6,880	194
	Scorpio Bulkers Inc.	59,419	191
	Rush Enterprises Inc. Class B	4,512	189
*	Radiant Logistics Inc.	42,267	186
*	Willis Lease Finance Corp.	3,138	178
	Graham Corp.	10,381	172
	Quad/Graphics Inc.	35,277	169
*	Daseke Inc.	50,422	166
	BG Staffing Inc.	10,729	165
*	Target Hospitality Corp.	34,973	164
*	Covenant Transportation Group Inc.	13,523	164
	Preformed Line Products Co.	3,327	162
	Advanced Emissions Solutions Inc.	18,132	161

Vanguard^®Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Eagle Bulk Shipping Inc.	47,618	158
*	American Superconductor Corp.	23,067	158
*	GP Strategies Corp.	14,146	157
*	Mistras Group Inc.	19,523	153
*	InnerWorkings Inc.	47,789	150
	RR Donnelley & Sons Co.	76,624	146
*	Commercial Vehicle Group Inc.	32,805	143
	Briggs & Stratton Corp.	45,040	143
	Universal Logistics Holdings Inc.	8,646	133
*	Mesa Air Group Inc.	22,693	131
	Genco Shipping & Trading Ltd.	16,173	124
*	DHI Group Inc	54,335	124
*	Information Services Group Inc.	39,049	124
	Titan International Inc.	55,164	122
*	Overseas Shipholding Group Inc. Class A	71,197	122
*	Liquidity Services Inc.	29,224	115
*	StarTek Inc.	18,057	112
^{*,^}	EVI Industries Inc.	4,976	110
*	US Xpress Enterprises Inc.	24,174	104
*	Gencor Industries Inc.	10,179	102
*	General Finance Corp.	12,786	100
*	Twin Disc Inc.	11,419	92
*	PAM Transportation Services Inc.	2,082	82
*	PRGX Global Inc.	21,805	79
*	YRC Worldwide Inc.	36,891	78
*	Safe Bulkers Inc.	56,864	75
^{*,^}	Wrap Technologies Inc.	9,137	54
*	Mayville Engineering Co. Inc.	6,924	50
^{*,^}	Energous Corp.	30,616	42
	Roadrunner Transportation Systems Inc.	3,644	27
*	Charah Solutions Inc.	10,610	23
*	Exela Technologies Inc.	52,338	13
			280,861
Technology (12.9%)
*	Lumentum Holdings Inc.	84,290	6,559
*	Tech Data Corp.	38,684	5,508
	Science Applications International Corp.	63,101	5,056
*	Five9 Inc.	65,213	4,762
	j2 Global Inc.	50,826	4,439
*	Cirrus Logic Inc.	63,486	4,358
*	Mercury Systems Inc.	59,148	4,345
*	Silicon Laboratories Inc.	46,839	4,154
*	Verint Systems Inc.	72,399	3,973
*	Envestnet Inc.	52,623	3,972
*	Everbridge Inc.	36,232	3,828
	Perspecta Inc.	152,478	3,807
*	Inphi Corp.	48,999	3,658
	Blackbaud Inc.	53,275	3,612
*	Q2 Holdings Inc.	47,609	3,588
*	ACI Worldwide Inc.	125,556	3,499
*	Viavi Solutions Inc.	250,875	3,309
*	Novanta Inc.	36,725	3,276
*	Anixter International Inc.	33,170	3,234
*	Blackline Inc.	47,108	2,948
*	Qualys Inc.	36,684	2,941
*	II-VI Inc.	97,515	2,895
*	Semtech Corp.	71,918	2,840
*	Acacia Communications Inc.	41,308	2,830
	Vishay Intertechnology Inc.	144,663	2,705
	Power Integrations Inc.	30,842	2,685
	Brooks Automation Inc.	77,467	2,673
*	Box Inc.	156,386	2,619
*	Varonis Systems Inc.	32,320	2,593
*	LiveRamp Holdings Inc.	73,107	2,591

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)


*	Cornerstone OnDemand Inc.	62,090	2,548
*	Rapid7 Inc.	53,707	2,487
*	Lattice Semiconductor Corp.	137,547	2,469
*	Synaptics Inc.	36,650	2,421
*	SailPoint Technologies Holding Inc.	93,533	2,368
*	Rogers Corp.	20,187	2,342
*	Yelp Inc.	74,837	2,340
*	Cloudera Inc.	262,785	2,339
*	Fabrinet	39,794	2,193
	ManTech International Corp.	29,213	2,188
*	Verra Mobility Corp. Class A	139,127	2,107
*	Appfolio Inc.	17,132	2,107
*	Insight Enterprises Inc.	38,050	2,096
*	Bottomline Technologies DE Inc.	47,248	2,092
*	Plexus Corp.	31,462	2,087
*	Cargurus Inc.	81,771	2,084
*	Ambarella Inc.	34,444	2,048
*	NetScout Systems Inc.	78,249	2,011
*	SPS Commerce Inc.	38,137	2,006
*	Sanmina Corp.	74,819	1,967
*	Diodes Inc.	44,694	1,967
*	Alarm.com Holdings Inc.	40,077	1,934
*	CommVault Systems Inc.	44,689	1,864
*	FormFactor Inc.	82,328	1,842
	Progress Software Corp.	48,488	1,808
	InterDigital Inc.	34,063	1,802
*	LivePerson Inc.	67,780	1,793
*	SVMK Inc.	94,700	1,726
*	Workiva Inc.	40,113	1,714
*	Rambus Inc.	120,463	1,684
*	PROS Holdings Inc.	35,892	1,643
^{*,^}	Appian Corp. Class A	37,155	1,640
	KEMET Corp.	62,055	1,618
*	Onto Innovation Inc.	52,537	1,606
	CSG Systems International Inc.	35,863	1,587
*	Avaya Holdings Corp.	121,060	1,569
*	Yext Inc.	103,206	1,565
*	Inovalon Holdings Inc.	79,398	1,547
*	Altair Engineering Inc.	43,640	1,519
*	ForeScout Technologies Inc.	46,212	1,504
*	Knowles Corp.	88,758	1,475
^{*,^}	iRobot Corp.	29,956	1,438
*	Perficient Inc.	34,814	1,426
*	TTM Technologies Inc.	108,127	1,405
*	Virtusa Corp.	31,303	1,381
*	Infinera Corp.	194,765	1,324
	NIC Inc.	71,760	1,312
*	Zuora Inc. Class A	96,616	1,279
*	MACOM Technology Solutions Holdings Inc.	50,143	1,267
	Methode Electronics Inc.	39,895	1,223
*	MicroStrategy Inc.	9,030	1,220
*	3D Systems Corp.	125,513	1,150
*	Amkor Technology Inc.	107,110	1,118
	AVX Corp.	51,318	1,116
*	MaxLinear Inc.	72,162	1,116
*	Bandwidth Inc. Class A	17,551	1,104
	Benchmark Electronics Inc.	40,343	1,097
*	ePlus Inc.	14,447	1,094
*	Model N Inc.	35,962	1,043
	TiVo Corp.	135,850	1,028
*	Tenable Holdings Inc.	41,155	1,009
	Maxar Technologies Inc.	65,211	992
*	Upland Software Inc.	24,712	962
	CTS Corp.	35,540	927

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	Xperi Corp.	53,793	925
*	Blucora Inc.	53,084	924
*	Ultra Clean Holdings Inc.	43,100	901
*	Glu Mobile Inc.	126,407	900
	Cohu Inc.	43,949	900
*	Stratasys Ltd.	55,635	890
*	Photronics Inc.	71,163	886
*	Unisys Corp.	55,563	863
*	Axcelis Technologies Inc.	35,224	845
*	Vocera Communications Inc.	34,080	831
*	Parsons Corp.	20,950	819
*	ScanSource Inc.	27,700	788
	Comtech Telecommunications Corp.	25,949	727
*	Agilysys Inc.	22,278	716
*	Veeco Instruments Inc.	52,602	704
*	Ichor Holdings Ltd.	23,832	689
*	CEVA Inc.	23,711	674
	Ebix Inc.	25,116	664
*	Groupon Inc.	493,192	661
*	Extreme Networks Inc.	130,840	658
*	Limelight Networks Inc.	123,663	624
*	NETGEAR Inc.	32,609	615
	QAD Inc.	12,519	614
*	Rubicon Project Inc.	53,568	608
*	nLight Inc.	36,120	596
*	OneSpan Inc.	35,835	592
*	Harmonic Inc.	95,993	589
*	Diebold Nixdorf Inc.	83,809	588
*	Telaria Inc.	47,889	585
*	Eventbrite Inc. Class A	39,962	584
*	TechTarget Inc.	24,993	578
*	Impinj Inc.	18,229	561
^{*,^}	GTT Communications Inc.	36,805	557
*	Anterix Inc.	11,796	553
*	Upwork Inc.	62,867	545
*	Tucows Inc.	10,340	528
*	Digital Turbine Inc.	85,044	521
	American Software Inc.	31,544	519
	Plantronics Inc.	36,806	505
	PC Connection Inc.	12,299	500
*	Zix Corp.	58,394	460
*	Calix Inc.	50,962	459
*	PDF Solutions Inc.	30,898	452
*	Loral Space & Communications Inc.	14,022	436
*	MobileIron Inc.	106,869	433
	ADTRAN Inc.	52,407	422
	Simulations Plus Inc.	12,896	420
*	Domo Inc.	19,036	401
*	Digi International Inc.	30,061	398
*	Benefitfocus Inc.	31,791	397
*	SMART Global Holdings Inc.	14,687	394
*	EverQuote Inc. Class A	9,569	389
*	Meet Group Inc.	74,941	382
^{*,^}	VirnetX Holding Corp.	66,397	372
*	Kimball Electronics Inc.	27,010	366
*	A10 Networks Inc.	53,369	358
*	Adesto Technologies Corp.	29,182	358
*	Mitek Systems Inc.	40,831	356
*	CalAmp Corp.	36,133	348
*	Ping Identity Holding Corp.	14,941	346
*	Inseego Corp.	48,789	339
*	PAR Technology Corp.	12,610	334
*	Brightcove Inc.	42,488	331
	NVE Corp.	5,190	328

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*	DSP Group Inc.	24,091	328
*	ShotSpotter Inc.	8,882	316
*	TrueCar Inc.	114,338	301
*	Endurance International Group Holdings Inc.	77,703	290
*	NeoPhotonics Corp.	42,788	283
*	PlayAGS Inc.	28,942	280
*	Ooma Inc.	21,528	276
*	ChannelAdvisor Corp.	28,944	276
*	Intelligent Systems Corp.	7,418	272
*	Digimarc Corp.	12,795	256
*	Alpha & Omega Semiconductor Ltd.	22,160	240
*	Immersion Corp.	34,303	240
*	GTY Technology Holdings Inc.	42,891	231
*	Avid Technology Inc.	30,665	227
*	Telenav Inc.	37,139	222
*	Ribbon Communications Inc.	65,314	211
*	Iteris Inc.	43,330	209
*	Synchronoss Technologies Inc.	42,299	208
^{*,^}	Akoustis Technologies Inc.	27,749	201
	Daktronics Inc.	39,662	195
*	KVH Industries Inc.	17,945	187
*	comScore Inc.	52,937	185
^{*,^}	Applied Optoelectronics Inc.	20,493	183
*	eGain Corp.	22,388	181
*	AXT Inc.	42,536	148
*	Clearfield Inc.	12,025	129
*	SharpSpring Inc.	10,950	125
	Bel Fuse Inc.	10,807	124
*	Acacia Research Corp.	53,675	123
*	SecureWorks Corp.	8,847	123
*	GSI Technology Inc.	17,603	117
*	Casa Systems Inc.	34,700	114
*	Rimini Street Inc.	21,715	100
	AstroNova Inc.	7,244	79
*	Airgain Inc.	9,624	76
*	DASAN Zhone Solutions Inc.	8,523	65
*	Majesco	8,073	54
*	Leaf Group Ltd.	19,600	52
*	Travelzoo	5,474	45
	TESSCO Technologies Inc.	7,034	42
*	Phunware Inc.	34,503	35
*	Sonim Technologies Inc.	10,781	31
*	Coda Octopus Group Inc.	4,751	30
*	Cambium Networks Corp.	4,641	29
^{*,^}	Ideanomics Inc.	55,310	20
			260,060
Utilities (4.6%)
	Portland General Electric Co.	97,836	5,323
	Black Hills Corp.	66,553	4,805
	ONE Gas Inc.	56,947	4,678
	PNM Resources Inc.	86,728	4,083
	Spire Inc.	54,172	4,066
	ALLETE Inc.	56,537	3,901
	NorthWestern Corp.	55,204	3,883
	Southwest Gas Holdings Inc.	59,218	3,830
	Avista Corp.	72,593	3,423
	New Jersey Resources Corp.	96,819	3,419
	Cogent Communications Holdings Inc.	46,260	3,377
	American States Water Co.	39,919	3,057
	Ormat Technologies Inc.	43,251	3,014
	El Paso Electric Co.	44,173	2,998
*	Iridium Communications Inc.	107,980	2,923
	South Jersey Industries Inc.	100,928	2,730
	MGE Energy Inc.	38,100	2,718

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	Pattern Energy Group Inc. Class A	96,170	2,601
	California Water Service Group	52,457	2,516
	Shenandoah Telecommunications Co.	52,323	2,325
*	Vonage Holdings Corp.	247,066	2,214
	Northwest Natural Holding Co.	33,027	2,172
*	8x8 Inc.	102,343	1,893
	SJW Group	28,736	1,758
*	Evoqua Water Technologies Corp.	81,607	1,711
	Clearway Energy Inc.	79,389	1,670
	TerraForm Power Inc.	86,722	1,630
	Chesapeake Utilities Corp.	17,472	1,494
	Middlesex Water Co.	17,743	1,055
	Unitil Corp.	16,028	903
	Clearway Energy Inc. Class A	39,067	793
*	Cincinnati Bell Inc.	53,990	705
	ATN International Inc.	11,972	645
*	Boingo Wireless Inc.	47,506	602
	York Water Co.	14,084	596
	Consolidated Communications Holdings Inc.	76,581	476
*	AquaVenture Holdings Ltd.	15,254	413
	Artesian Resources Corp.	8,722	299
^{*,^}	Intelsat SA	73,253	283
*	Atlantic Power Corp.	116,109	264
*	ORBCOMM Inc.	79,266	262
	Consolidated Water Co. Ltd.	15,631	253
*	Pure Cycle Corp.	18,544	229
	RGC Resources Inc.	8,142	224
^{*,^}	Gogo Inc.	59,678	215
	Spok Holdings Inc.	19,108	190
	Global Water Resources Inc.	12,971	155
*	IDT Corp.	18,360	141
^{*,^}	Cadiz Inc.	14,260	125
	Spark Energy Inc.	12,919	111
	Genie Energy Ltd. Class B	15,346	106
^{*,^}	Pareteum Corp.	139,600	78
^{*,^}	Frontier Communications Corp.	115,349	62
			93,397
Total Common Stocks (Cost $2,140,587)			2,015,710

		Coupon
Temporary Cash Investments (2.2%)
Money Market Fund (2.2%)
2,3	Vanguard Market Liquidity Fund	1.706%		432,431		43,256

			Maturity Date	Face Amount ($000	)
U.S. Government and Agency Obligations (0.0%)
4	United States Treasury Bill	1.527%	4/30/20	640		639
Total Temporary Cash Investments (Cost $43,878)						43,895
Total Investments (102.0%) (Cost $2,184,465)						2,059,605
Other Assets and Liabilities—Net (-2.0%)³						(41,306)
Net Assets (100%)						2,018,299

Cost rounded to $000.
*	Non-income-producing security.

^	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $39,662,000.
§	Security value determined using significant unobservable inputs.
1	“Other” represents securities that are not classified by the fund's benchmark index.

Vanguard^® Russell 2000 Index Fund

Schedule of Investments

February 29, 2020


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 $43,112,000 was received for securities on loan, of which $43,060,000 is held in Vanguard Market Liquidity Fund and $52,000 is held in cash.
4	Securities with a value of $65,000 have been segregated as initial margin for open futures contracts.
	CVR—Contingent Value Rights.
	REIT—Real Estate Investment Trust.

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020

		Shares	Market Value ($000)
Common Stocks (99.1%)
Consumer Discretionary (12.0%)
	Marriott Vacations Worldwide Corp.	14,980	1,450
	TEGNA Inc.	96,343	1,380
*	Penn National Gaming Inc.	43,238	1,279
*	Taylor Morrison Home Corp.	50,560	1,139
*	Murphy USA Inc.	10,656	1,039
*	Stamps.com Inc.	7,209	1,017
*	Meritage Homes Corp.	16,008	1,016
	KB Home	30,286	987
*	Laureate Education Inc.	52,396	980
*	Rh	5,246	952
*	TRI Pointe Group Inc.	61,425	942
	Dana Inc.	64,504	928
*	Adient plc	38,618	924
	MDC Holdings Inc.	22,020	866
*	Visteon Corp.	12,362	804
*	Liberty Latin America Ltd.	51,991	790
*	Adtalem Global Education Inc.	24,242	748
	Callaway Golf Co.	41,686	708
*	Sally Beauty Holdings Inc.	53,820	669
	Group 1 Automotive Inc.	7,851	669
	Jack in the Box Inc.	9,710	669
*	BJ's Wholesale Club Holdings Inc.	31,886	614
*	WW International Inc.	20,367	611
^	Bed Bath & Beyond Inc.	53,166	575
*	Hertz Global Holdings Inc.	44,236	566
	Cooper Tire & Rubber Co.	21,923	559
	Office Depot Inc.	237,189	557
	Signet Jewelers Ltd.	22,544	526
	Kontoor Brands Inc.	15,042	507
	PriceSmart Inc.	8,981	500
*	Fitbit Inc.	77,544	495
	Wolverine World Wide Inc.	17,905	471
*	Central Garden & Pet Co. Class A	18,130	459
*	M/I Homes Inc.	12,187	454
	Lithia Motors Inc. Class A	3,774	450
*	Gray Television Inc.	23,635	447
*	G-III Apparel Group Ltd.	19,272	431
	Scholastic Corp.	12,894	414
	Matthews International Corp.	13,946	412
	Acushnet Holdings Corp.	15,347	391
	Abercrombie & Fitch Co.	27,432	360
	Guess? Inc.	20,107	326
	La-Z-Boy Inc.	11,299	324
	Standard Motor Products Inc.	7,260	319
*	K12 Inc.	15,695	312
*	Liberty Latin America Ltd. Class A	20,364	308
*	American Axle & Manufacturing Holdings Inc.	48,543	307
	Sonic Automotive Inc.	10,544	295
	Buckle Inc.	13,028	295
	EW Scripps Co.	23,945	285
	Oxford Industries Inc.	4,477	270
	Big Lots Inc.	16,997	269
*	Quotient Technology Inc.	29,284	262
	Marcus Corp.	9,800	262
*	Houghton Mifflin Harcourt Co.	45,647	250
^	Dillard's Inc. Class A	4,324	243
	OneSpaWorld Holdings Ltd.	19,806	242
*	MSG Networks Inc.	18,609	235
	Designer Brands Inc. Class A	17,400	235
*	American Outdoor Brands Corp.	23,482	234
	Dine Brands Global Inc.	2,809	230

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020

		Shares	Market Value ($000)
*	Zumiez Inc.	8,619	229
*	Cars.com Inc.	25,159	228
*	Stoneridge Inc.	10,325	228
*	Century Communities Inc.	6,763	225
*	Genesco Inc.	6,267	216
*	Gannett Co. Inc.	51,066	214
	Winnebago Industries Inc.	3,979	206
	Chico's FAS Inc.	50,903	204
	Tenneco Inc.	21,958	201
	Caleres Inc.	17,060	197
	National CineMedia Inc.	24,228	186
*	Vista Outdoor Inc.	25,299	186
	Entercom Communications Corp. Class A	51,903	180
*	Michaels Cos. Inc.	36,334	156
	National Presto Industries Inc.	1,980	156
*	Red Robin Gourmet Burgers Inc.	5,617	154
	Cato Corp. Class A	9,535	154
*	elf Beauty Inc.	9,563	153
*	Beazer Homes USA Inc.	12,430	152
	Carriage Services Inc. Class A	7,125	151
*	Hudson Ltd. Class A	16,118	150
*	MarineMax Inc.	8,662	147
*	American Public Education Inc.	6,551	146
^	GameStop Corp. Class A	38,915	140
^	AMC Entertainment Holdings Inc.	22,332	140
*	Hibbett Sports Inc.	7,116	139
*	Central Garden & Pet Co.	5,130	137
	Ethan Allen Interiors Inc.	10,407	137
*	Motorcar Parts of America Inc.	8,194	137
	Winmark Corp.	683	137
	Brinker International Inc.	3,972	136
*	Rosetta Stone Inc.	7,616	132
	Aaron's Inc.	3,344	131
	Haverty Furniture Cos. Inc.	7,766	131
*	WillScot Corp.	7,287	128
*	Cooper-Standard Holdings Inc.	7,236	125
*	Meritor Inc.	5,453	124
^,*	Daily Journal Corp.	487	122
	Shoe Carnival Inc.	4,069	122
*	Regis Corp.	9,472	121
*	Chuy's Holdings Inc.	5,498	118
*	Green Brick Partners Inc.	10,155	111
*	El Pollo Loco Holdings Inc.	8,491	110
*	Denny's Corp.	6,291	110
*	Sportsman's Warehouse Holdings Inc.	18,253	109
*	Express Inc.	28,256	105
	Movado Group Inc.	6,830	100
*	Lumber Liquidators Holdings Inc.	10,162	100
*	Fiesta Restaurant Group Inc.	10,226	99
^,*	JC Penney Co. Inc.	139,710	96
*	At Home Group Inc.	19,250	96
	Citi Trends Inc.	4,825	95
*	Fossil Group Inc.	20,180	93
	Hooker Furniture Corp.	4,741	89
	American Eagle Outfitters Inc.	6,801	88
	Tribune Publishing Co.	7,525	86
*	Century Casinos Inc.	12,137	85
	Boyd Gaming Corp.	3,115	83
*	Habit Restaurants Inc.	5,933	83
*	Del Taco Restaurants Inc.	12,716	81
	RCI Hospitality Holdings Inc.	4,033	81
	Wingstop Inc.	947	80
*	ZAGG Inc.	11,681	78
*	RealReal Inc.	5,527	77

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	Cumulus Media Inc. Class A	6,223	75
*	Vera Bradley Inc.	9,074	75
	Emerald Holding Inc.	10,902	75
	Rocky Brands Inc.	2,946	72
^,*	Eros International plc	28,785	66
*	WideOpenWest Inc.	10,486	66
*	Conn's Inc.	7,810	64
	Tilly's Inc.	9,473	62
	Papa John's International Inc.	1,066	61
^,*	Overstock.com Inc.	9,480	61
*	Delta Apparel Inc.	3,083	61
	Tupperware Brands Corp.	21,231	60
*	Golden Entertainment Inc	3,701	60
*	Reading International Inc.	7,149	60
*	Barnes & Noble Education Inc.	17,931	59
*	Carrols Restaurant Group Inc.	14,268	59
	Weyco Group Inc.	2,611	57
*	Sleep Number Corp.	1,219	54
	Johnson Outdoors Inc.	793	49
*	J Alexander's Holdings Inc.	5,919	49
*	Lands' End Inc.	4,513	48
*	Stitch Fix Inc. Class A	1,971	47
*	Select Interior Concepts Inc. Class A	6,329	47
*	Party City Holdco Inc.	23,661	47
	Clarus Corp.	4,043	47
	Nathan's Famous Inc.	784	47
*	Monarch Casino & Resort Inc.	984	46
	Saga Communications Inc.	1,611	46
*	Potbelly Corp.	8,839	44
	Flexsteel Industries Inc.	3,171	44
	Entravision Communications Corp. Class A	21,275	43
	Bassett Furniture Industries Inc.	4,216	42
*	Marchex Inc.	16,011	41
	Superior Group of Cos. Inc.	3,410	41
	Escalade Inc.	4,545	39
*	Gaia Inc.	4,425	37
	Interface Inc.	2,522	37
*	Purple Innovation Inc. Class A	2,614	35
*	Lee Enterprises Inc.	22,442	34
*	Clear Channel Outdoor Holdings Inc.	15,963	33
	Lifetime Brands Inc.	4,958	32
	Sturm Ruger & Co. Inc.	610	29
*	Red Lion Hotels Corp.	10,576	27
*	Container Store Group Inc.	6,754	26
*	Legacy Housing Corp.	1,680	24
*	Boston Omaha Corp.	1,228	24
	Bluegreen Vacations Corp.	3,001	23
*	Universal Electronics Inc.	521	22
*	GoPro Inc.	4,103	16
*	Vince Holding Corp.	1,290	14
	Ascena Retail Group Inc.	3,329	13
	Kura Sushi USA Inc. Class A	652	12
*	Hemisphere Media Group Inc.	640	8
^	Tailored Brands Inc.	2,410	8
^,*	Waitr Holdings Inc.	20,702	7
*	Biglari Holdings Inc.	68	7
^,*	Revlon Inc.	413	7
*	Drive Shack Inc.	2,257	6
	J. Jill Inc.	7,259	6
	Collectors Universe Inc.	222	5
*	Fluent Inc.	1,536	4
*	RTW RetailWinds Inc.	12,776	4
*	Inspired Entertainment Inc.	368	2
			46,385

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
Consumer Staples (1.7%)
*	Simply Good Foods Co.	36,571	807
*	Edgewell Personal Care Co.	23,590	716
*	Hostess Brands Inc.	52,141	663
	Universal Corp.	10,700	528
	Cal-Maine Foods Inc.	13,727	479
^	B&G Foods Inc.	24,969	370
	Fresh Del Monte Produce Inc.	13,404	368
^	Rite Aid Corp.	24,411	332
	Lancaster Colony Corp.	2,261	327
	Andersons Inc.	13,789	253
	Ingles Markets Inc.	6,539	234
	SpartanNash Co.	15,578	194
	Sanderson Farms Inc.	1,378	170
	PetMed Express Inc.	6,110	161
	Weis Markets Inc.	4,153	155
*	United Natural Foods Inc.	23,362	151
*	BellRing Brands Inc. Class A	7,016	138
*	Seneca Foods Corp.	2,878	100
	Limoneira Co.	4,859	81
	Village Super Market Inc.	3,704	76
*	Craft Brew Alliance Inc.	4,558	73
*	GNC Holdings Inc.	36,016	60
	Alico Inc.	1,709	56
*	Farmer Brothers Co.	4,491	55
	Vector Group Ltd.	2,964	34
*	Nature's Sunshine Products Inc.	3,715	30
	Tootsie Roll Industries Inc.	884	28
	Natural Grocers by Vitamin Cottage Inc.	3,846	27
^,*	Pyxus International Inc.	3,583	14
*	cbdMD Inc.	3,958	4
*	Greenlane Holdings Inc. Class A	191	—
			6,684
Energy (4.3%)
	Arcosa Inc.	21,549	926
*	PDC Energy Inc.	43,698	832
	World Fuel Services Corp.	28,640	810
	Delek US Holdings Inc.	32,267	690
*	Dril-Quip Inc.	15,810	563
	Golar LNG Ltd.	37,814	485
*	Oceaneering International Inc.	44,257	466
*	Matador Resources Co.	45,864	442
*	CNX Resources Corp.	81,386	432
*	Renewable Energy Group Inc.	15,979	423
*	NOW Inc.	47,277	417
*	Helix Energy Solutions Group Inc.	62,004	416
	Warrior Met Coal Inc.	22,572	400
	Archrock Inc.	55,943	394
*	Callon Petroleum Co.	167,758	381
*	Southwestern Energy Co.	235,912	335
	Arch Coal Inc.	6,590	332
*	Magnolia Oil & Gas Corp. Class A	43,850	329
*	NexTier Oilfield Solutions Inc.	69,539	324
	SM Energy Co.	48,614	319
	Nabors Industries Ltd.	152,960	269
*	Par Pacific Holdings Inc.	15,371	255
	QEP Resources Inc.	103,777	234
*	SunPower Corp.	27,148	233
*	Oasis Petroleum Inc.	138,510	226
*	Oil States International Inc.	28,314	224
*	Ameresco Inc.	9,842	222
^,*	Bloom Energy Corp. Class A	24,307	220
	CVR Energy Inc.	7,589	216
*	Northern Oil and Gas Inc.	128,541	186

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	Frank's International NV	46,042	181
	Green Plains Inc.	14,869	178
	Berry Corp.	27,074	172
*	REX American Resources Corp.	2,434	170
*	Select Energy Services Inc.	26,051	169
	Peabody Energy Corp.	27,718	162
*	Denbury Resources Inc.	208,774	157
	SunCoke Energy Inc.	31,690	146
*	Matrix Service Co.	11,727	142
*	Newpark Resources Inc.	38,523	135
^,*	California Resources Corp.	21,250	135
*	Clean Energy Fuels Corp.	59,446	134
*	Bonanza Creek Energy Inc.	8,228	134
*	ProPetro Holding Corp.	15,187	133
*	Talos Energy Inc.	8,783	125
*	Penn Virginia Corp.	7,081	113
	Liberty Oilfield Services Inc.	16,198	108
*	W&T Offshore Inc.	40,907	106
*	Laredo Petroleum Inc.	91,289	99
*	Era Group Inc.	10,050	99
*	National Energy Services Reunited Corp.	10,448	87
	RPC Inc.	25,050	86
^,*	Diamond Offshore Drilling Inc.	28,156	86
*	Noble Corp. plc	107,668	76
*	Whiting Petroleum Corp.	39,499	73
*	Geospace Technologies Corp.	5,853	72
	Sunnova Energy International Inc.	4,089	71
*	Gulfport Energy Corp.	83,967	69
*	SEACOR Marine Holdings Inc.	8,513	68
*	TETRA Technologies Inc.	53,364	67
	NACCO Industries Inc.	1,566	65
*	Exterran Corp.	12,553	64
*	CONSOL Energy Inc.	11,198	64
	Falcon Minerals Corp.	14,224	57
*	Natural Gas Services Group Inc.	5,710	56
*	Trecora Resources	9,494	54
*	Contura Energy Inc.	7,691	44
	Panhandle Oil and Gas Inc.	6,559	44
^,*	Comstock Resources Inc.	6,971	42
*	Flotek Industries Inc.	22,835	36
*	SandRidge Energy Inc.	17,187	35
*	Montage Resources Corp.	9,552	33
*	HighPoint Resources Corp.	47,682	32
*	Earthstone Energy Inc.	8,277	32
	Brigham Minerals Inc. Class A	1,959	31
*	Seadrill Ltd.	25,545	28
*	Forum Energy Technologies Inc.	35,129	27
*	Nine Energy Service Inc.	6,743	27
*	Covia Holdings Corp.	17,437	27
^,*	Extraction Oil & Gas Inc.	36,664	25
	Amplify Energy Corp.	5,559	23
*	KLX Energy Services Holdings Inc.	9,332	23
*	Ring Energy Inc.	14,583	21
*	Pacific Drilling SA	12,833	20
*	Smart Sand Inc.	9,159	15
*	Abraxas Petroleum Corp.	67,202	13
	Hallador Energy Co.	8,611	11
*	Ramaco Resources Inc.	3,431	10
*	PrimeEnergy Resources Corp.	64	8
*	Unit Corp.	23,006	8
*	Independence Contract Drilling Inc.	20,279	8
*	SilverBow Resources Inc.	2,840	8
	Evolution Petroleum Corp.	1,549	7
*	Chaparral Energy Inc. Class A	13,023	7

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	FTS International Inc.	7,527	7
*	Goodrich Petroleum Corp.	1,282	7
	Mammoth Energy Services Inc.	6,034	7
*	NCS Multistage Holdings Inc.	4,904	5
*	RigNet Inc.	737	3
*	US Well Services Inc.	1,763	2
			16,590
Financial Services (41.8%)
	Rexford Industrial Realty Inc.	48,671	2,276
	Healthcare Realty Trust Inc.	58,333	2,001
^	Blackstone Mortgage Trust Inc.	55,150	1,989
	Radian Group Inc.	89,051	1,891
	First Industrial Realty Trust Inc.	44,167	1,700
	Sabra Health Care REIT Inc.	84,964	1,661
	STAG Industrial Inc.	58,612	1,640
	Stifel Financial Corp.	29,269	1,593
	Valley National Bancorp	169,845	1,580
	Physicians Realty Trust	82,609	1,558
	Terreno Realty Corp.	25,979	1,425
	IBERIABANK Corp.	22,988	1,384
	Community Bank System Inc.	22,443	1,365
	Agree Realty Corp.	18,276	1,313
	Hancock Whitney Corp.	38,263	1,282
	United Bankshares Inc.	42,726	1,234
	Glacier Bancorp Inc.	32,513	1,212
	Piedmont Office Realty Trust Inc.	55,150	1,191
	Pebblebrook Hotel Trust	58,100	1,174
	Old National Bancorp	74,043	1,167
	Home BancShares Inc.	69,036	1,157
	Invesco Mortgage Capital Inc.	70,670	1,136
	UMB Financial Corp.	19,480	1,133
*	Cannae Holdings Inc.	29,780	1,111
	Apollo Commercial Real Estate Finance Inc.	67,908	1,100
	Lexington Realty Trust Class B	106,080	1,100
	Sunstone Hotel Investors Inc.	100,001	1,095
	CVB Financial Corp.	58,555	1,086
	CNO Financial Group Inc.	67,391	1,080
	CenterState Bank Corp.	53,341	1,079
	PotlatchDeltic Corp.	29,179	1,072
	BancorpSouth Bank	43,475	1,064
	Columbia Banking System Inc.	31,706	1,053
	Investors Bancorp Inc.	99,727	1,051
	Atlantic Union Bankshares Corp.	35,165	1,046
	Cathay General Bancorp	33,807	1,041
	Washington Federal Inc.	34,681	1,040
	Fulton Financial Corp.	70,624	1,021
	American Equity Investment Life Holding Co.	40,042	1,012
	RLJ Lodging Trust	75,641	999
	South State Corp.	14,667	999
	Washington REIT	35,418	951
	Simmons First National Corp.	42,598	911
	Essent Group Ltd.	20,848	910
	Independent Bank Corp.	13,267	896
	First Financial Bancorp	43,475	896
	Hannon Armstrong Sustainable Infrastructure Capital Inc.	26,046	884
	WesBanco Inc.	28,482	872
	National Health Investors Inc.	10,606	867
	Acadia Realty Trust	37,883	865
	First Midwest Bancorp Inc.	47,526	863
*	Genworth Financial Inc.	220,515	860
	First Merchants Corp.	24,262	849
	Redwood Trust Inc.	48,872	835
	International Bancshares Corp.	24,434	833
	Urban Edge Properties	51,295	831

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	PennyMac Mortgage Investment Trust	39,840	825
	Argo Group International Holdings Ltd.	14,453	813
	DiamondRock Hospitality Co.	87,819	801
	United Community Banks Inc.	32,077	795
	WSFS Financial Corp.	22,768	785
	Selective Insurance Group Inc.	14,063	784
	Ameris Bancorp	22,866	782
*	PRA Group Inc.	19,979	776
	Cadence BanCorp Class A	54,767	773
	New York Mortgage Trust Inc.	135,000	770
	CoreCivic Inc.	51,940	769
	Trustmark Corp.	28,460	766
	First BanCorp	95,783	761
	Retail Opportunity Investments Corp.	50,610	759
*	Enstar Group Ltd.	4,228	754
	Xenia Hotels & Resorts Inc.	50,281	752
	Global Net Lease Inc.	39,648	732
	FGL Holdings	63,508	727
	Banner Corp.	15,711	717
	Capitol Federal Financial Inc.	58,720	717
	Essential Properties Realty Trust Inc.	31,275	717
	Mack-Cali Realty Corp.	37,747	716
	Horace Mann Educators Corp.	18,200	709
	Renasant Corp.	24,906	706
	Walker & Dunlop Inc.	10,823	702
	Ladder Capital Corp.	46,016	702
	Great Western Bancorp Inc.	25,486	685
	Towne Bank	29,557	682
	Pacific Premier Bancorp Inc.	26,013	672
	Heartland Financial USA Inc.	15,455	662
	Diversified Healthcare Trust	103,237	649
	Hilltop Holdings Inc.	31,088	648
	Hope Bancorp Inc.	52,585	642
	NBT Bancorp Inc.	18,963	639
	ProAssurance Corp.	23,188	630
	Northwest Bancshares Inc.	44,770	622
	Easterly Government Properties Inc.	25,635	609
	Office Properties Income Trust	20,822	607
	Kite Realty Group Trust	36,906	596
	Industrial Logistics Properties Trust	28,303	585
	First Interstate BancSystem Inc.	16,685	568
	Alexander & Baldwin Inc.	29,976	564
	S&T Bancorp Inc.	16,979	558
	AMERISAFE Inc.	8,510	555
	Provident Financial Services Inc.	27,238	544
	Independent Bank Group Inc.	11,745	544
	Westamerica Bancorporation	9,377	542
	Kennedy-Wilson Holdings Inc.	26,766	541
	Employers Holdings Inc.	13,928	537
	Independence Realty Trust Inc.	39,725	527
	Park National Corp.	5,929	518
	Safety Insurance Group Inc.	6,512	513
	First Commonwealth Financial Corp.	43,394	512
	ARMOUR Residential REIT Inc.	28,266	511
	Eagle Bancorp Inc.	13,491	505
*	Encore Capital Group Inc.	13,492	501
	Tompkins Financial Corp.	6,271	498
	Monmouth Real Estate Investment Corp.	34,939	496
	First Busey Corp.	22,388	494
	Flagstar Bancorp Inc.	15,143	483
	Brookline Bancorp Inc.	34,646	481
	Berkshire Hills Bancorp Inc.	19,674	480
	Sandy Spring Bancorp Inc.	15,328	472
	OceanFirst Financial Corp.	23,061	471

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	Seritage Growth Properties	13,356	459
	Realogy Holdings Corp.	49,391	458
*	Seacoast Banking Corp. of Florida	18,316	456
	American Finance Trust Inc.	43,381	451
	Bank of NT Butterfield & Son Ltd.	16,283	451
	Southside Bancshares Inc.	13,982	451
	Colony Credit Real Estate Inc.	35,157	448
	RPT Realty	34,098	442
	City Holding Co.	6,304	441
	Nelnet Inc.	8,087	429
	Summit Hotel Properties Inc.	45,190	419
	Piper Sandler Cos.	5,975	419
	TPG RE Finance Trust Inc.	21,704	417
	Waddell & Reed Financial Inc.	30,310	417
	BancFirst Corp.	8,120	417
	Getty Realty Corp.	14,596	414
	First Bancorp	12,801	411
	Enterprise Financial Services Corp.	10,619	406
	TriCo Bancshares	11,681	395
	Heritage Financial Corp.	16,809	390
	LTC Properties Inc.	8,684	389
	Granite Point Mortgage Trust Inc.	23,687	389
	Veritex Holdings Inc.	15,999	385
*	Ambac Financial Group Inc.	19,632	377
	OFG Bancorp	22,062	369
	Stewart Information Services Corp.	10,162	368
*	Columbia Financial Inc.	23,175	360
	First Defiance Financial Corp.	15,035	360
	Investors Real Estate Trust	5,103	360
	Boston Private Financial Holdings Inc.	35,979	351
	Franklin Street Properties Corp.	46,751	333
	Carolina Financial Corp.	10,170	330
	United Fire Group Inc.	8,569	329
	German American Bancorp Inc.	10,815	323
	PennyMac Financial Services Inc.	9,096	321
	LendingClub Corp.	29,105	320
*	INTL. FCStone Inc.	6,978	318
	ConnectOne Bancorp Inc.	14,773	310
	Lakeland Bancorp Inc.	21,184	305
	Univest Financial Corp.	13,032	305
	Banc of California Inc.	19,666	301
	Meridian Bancorp Inc.	17,977	297
	Artisan Partners Asset Management Inc.	10,154	290
*	Third Point Reinsurance Ltd.	32,346	289
	Bryn Mawr Bank Corp.	8,667	288
*	St. Joe Co.	14,625	288
	Capstead Mortgage Corp.	40,414	287
	Allegiance Bancshares Inc.	8,635	286
	TrustCo Bank Corp. NY	41,507	285
*	Nicolet Bankshares Inc.	4,255	283
	Washington Trust Bancorp Inc.	6,572	282
	Chatham Lodging Trust	19,954	278
	National Bank Holdings Corp.	9,036	276
	Armada Hoffler Properties Inc.	16,331	274
	Virtus Investment Partners Inc.	2,479	274
	Front Yard Residential Corp.	21,452	272
	James River Group Holdings Ltd.	6,718	271
	Central Pacific Financial Corp.	11,239	269
	Northfield Bancorp Inc.	18,998	268
	City Office REIT Inc.	23,079	268
	Urstadt Biddle Properties Inc.	12,951	267
	Camden National Corp.	6,498	266
	Brightsphere Investment Group Inc.	28,477	266
*	Bancorp Inc.	21,743	265

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	HomeStreet Inc.	9,722	263
	Community Trust Bancorp Inc.	6,711	260
	1st Source Corp.	6,159	259
	Stock Yards Bancorp Inc.	7,385	258
	Origin Bancorp Inc.	8,530	258
	Kearny Financial Corp.	23,438	256
*	Customers Bancorp Inc.	12,337	250
	Great Southern Bancorp Inc.	4,788	246
	Horizon Bancorp Inc.	16,307	245
	QCR Holdings Inc.	6,396	243
	Banco Latinoamericano de Comercio Exterior SA	13,494	241
	National Western Life Group Inc.	998	238
	Safehold Inc.	4,341	237
^	Washington Prime Group Inc.	85,105	234
	Dime Community Bancshares Inc.	13,878	233
	National General Holdings Corp.	11,876	231
*	MBIA Inc.	29,578	231
*	Axos Financial Inc.	9,149	228
	Western Asset Mortgage Capital Corp.	22,484	225
	RE/MAX Holdings Inc.	7,725	225
	Peoples Bancorp Inc.	7,869	225
	Opus Bank	9,483	224
	Bank of Marin Bancorp	5,884	224
*	Mr Cooper Group Inc.	17,328	222
	CareTrust REIT Inc.	10,584	221
	Peapack Gladstone Financial Corp.	8,029	220
	Ellington Financial Inc.	13,264	219
	Heritage Commerce Corp.	21,190	217
	First Bancshares Inc.	7,256	217
	Preferred Bank	4,207	215
	KKR Real Estate Finance Trust Inc.	10,904	214
	Flushing Financial Corp.	11,744	213
	AG Mortgage Investment Trust Inc.	14,174	212
	B. Riley Financial Inc.	8,965	212
	First of Long Island Corp.	10,085	209
	Meta Financial Group Inc.	6,326	208
	Midland States Bancorp Inc.	8,700	207
	First Financial Corp.	5,168	206
	Federal Agricultural Mortgage Corp.	2,725	205
	Whitestone REIT	16,526	203
	FBL Financial Group Inc. Class A	4,240	203
	Ready Capital Corp.	13,911	202
	Mercantile Bank Corp.	6,977	200
	CorEnergy Infrastructure Trust Inc.	5,697	199
	CatchMark Timber Trust Inc.	21,577	198
	Global Medical REIT Inc.	14,046	196
	Bridge Bancorp Inc.	7,092	195
	CBTX Inc.	7,811	195
	Franklin Financial Network Inc.	5,710	191
*	Watford Holdings Ltd.	8,281	189
	Preferred Apartment Communities Inc.	19,794	189
	Retail Value Inc.	6,723	187
	Hersha Hospitality Trust Class A	16,153	186
	PJT Partners Inc.	4,050	182
	Hanmi Financial Corp.	11,616	181
	Financial Institutions Inc.	6,722	181
*	Triumph Bancorp Inc.	5,297	179
	First Community Bankshares Inc.	6,857	179
	Ares Commercial Real Estate Corp.	11,714	179
	Gladstone Commercial Corp.	9,408	178
	First Mid Bancshares Inc.	6,283	177
	Arrow Financial Corp.	5,571	176
	Byline Bancorp Inc.	10,078	176
	Universal Insurance Holdings Inc.	8,522	176

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	State Auto Financial Corp.	6,977	174
	Live Oak Bancshares Inc.	11,337	174
*	Equity Bancshares Inc.	6,425	168
	First Foundation Inc.	11,620	168
	Farmers National Banc Corp.	11,147	168
	Carter Bank & Trust	9,912	168
	Jernigan Capital Inc.	9,290	166
	Dynex Capital Inc.	9,682	166
	People's Utah Bancorp	6,822	164
*	Atlantic Capital Bancshares Inc.	8,953	162
	One Liberty Properties Inc.	6,691	161
	Community Healthcare Trust Inc.	3,340	159
*	TriState Capital Holdings Inc.	7,972	158
	Orchid Island Capital Inc.	27,412	157
	Waterstone Financial Inc.	9,418	157
	Capital City Bank Group Inc.	5,851	156
*	Amerant Bancorp Inc.	8,320	154
	Exantas Capital Corp.	13,369	153
	Republic Bancorp Inc.	4,205	150
	CNB Financial Corp.	5,981	150
	MidWestOne Financial Group Inc.	5,168	148
	WisdomTree Investments Inc.	36,371	148
	Sierra Bancorp	6,190	147
	American National Bankshares Inc.	4,672	144
	Anworth Mortgage Asset Corp.	42,829	140
*	FRP Holdings Inc.	3,063	139
*	Tejon Ranch Co.	9,161	138
	CorePoint Lodging Inc.	17,274	138
	Bar Harbor Bankshares	6,670	136
	Old Second Bancorp Inc.	12,663	135
	Independent Bank Corp.	6,873	135
	Peoples Financial Services Corp.	3,016	132
*	Metropolitan Bank Holding Corp.	3,081	132
	Business First Bancshares Inc.	5,460	131
	ServisFirst Bancshares Inc.	3,790	131
	Civista Bancshares Inc.	6,668	128
	FB Financial Corp.	3,878	126
*	Citizens Inc. Class A	21,620	126
	New Senior Investment Group Inc.	20,588	125
*	Green Dot Corp.	3,644	124
	Consolidated-Tomoka Land Co.	2,152	124
	Southern National Bancorp of Virginia Inc.	8,632	123
*	Bridgewater Bancshares Inc.	9,734	122
	Moelis & Co.	3,800	121
	RBB Bancorp	7,090	120
	Citizens & Northern Corp.	5,248	119
	Lakeland Financial Corp.	2,886	118
*	Donnelley Financial Solutions Inc.	13,457	117
*	Southern First Bancshares Inc.	3,063	117
	PCSB Financial Corp.	6,352	117
	Farmers & Merchants Bancorp Inc.	4,369	116
	Heritage Insurance Holdings Inc.	10,333	115
	First Bancorp Inc.	4,512	115
*	Cardtronics plc	3,161	115
	HomeTrust Bancshares Inc.	4,820	115
	West Bancorporation Inc.	5,581	114
	HCI Group Inc.	2,668	113
	iStar Inc.	7,446	113
*	Spirit of Texas Bancshares Inc.	6,000	111
	Macatawa Bank Corp.	11,453	110
	Home Bancorp Inc.	3,296	109
	Enterprise Bancorp Inc.	3,945	108
*	Greenlight Capital Re Ltd.	12,791	108
	Southern Missouri Bancorp Inc.	3,278	108

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	Gladstone Land Corp.	7,941	107
	SmartFinancial Inc.	5,599	106
*	EZCORP Inc.	22,077	106
	Great Ajax Corp.	7,466	106
*	Red River Bancshares Inc.	2,009	104
	Summit Financial Group Inc.	4,692	103
	Ames National Corp.	3,915	101
	First Choice Bancorp	4,443	101
	First Internet Bancorp	4,126	100
	Guaranty Bancshares Inc.	3,589	99
	Ashford Hospitality Trust Inc.	45,533	98
	Cowen Inc.	6,548	98
	Amalgamated Bank	6,118	98
	National Bankshares Inc.	2,799	98
	Oppenheimer Holdings Inc.	4,104	97
	Global Indemnity Ltd.	3,065	97
	Braemar Hotels & Resorts Inc.	13,204	97
	BBX Capital Corp.	27,676	96
	Northrim BanCorp Inc.	2,747	96
	Premier Financial Bancorp Inc.	5,745	96
*	On Deck Capital Inc.	27,305	95
	Cedar Realty Trust Inc.	36,789	95
	Cambridge Bancorp	1,391	95
	Cherry Hill Mortgage Investment Corp.	6,663	95
*	Enova International Inc.	4,902	94
*	Forestar Group Inc.	5,239	94
	Luther Burbank Corp.	8,840	92
	ACNB Corp.	3,021	92
	Shore Bancshares Inc.	5,876	91
	Penns Woods Bancorp Inc.	3,023	91
	Metrocity Bankshares Inc.	6,432	90
*	Howard Bancorp Inc.	5,723	90
	Western New England Bancorp Inc.	10,182	90
	Arlington Asset Investment Corp.	15,893	90
	Westwood Holdings Group Inc.	3,543	90
	MutualFirst Financial Inc.	2,609	87
	Territorial Bancorp Inc.	3,437	87
*	Rafael Holdings Inc. Class B	4,656	87
	South Plains Financial Inc.	4,322	87
	Capstar Financial Holdings Inc.	6,403	86
	Investors Title Co.	522	86
	First Business Financial Services Inc.	3,555	85
	Central Valley Community Bancorp	4,909	84
	Codorus Valley Bancorp Inc.	4,095	84
	United Insurance Holdings Corp.	8,953	84
	Bankwell Financial Group Inc.	2,956	84
	Reliant Bancorp Inc.	4,213	84
	First Capital Inc.	1,351	83
*	Assetmark Financial Holdings Inc.	3,115	83
	LCNB Corp.	5,205	82
*	FVCBankcorp Inc.	5,328	82
*	Hallmark Financial Services Inc.	5,759	82
	Parke Bancorp Inc.	4,403	81
	Sculptor Capital Management Inc. Class A	3,539	80
	SB One Bancorp	3,632	80
	Evans Bancorp Inc.	2,010	79
	Independence Holding Co.	2,110	78
	Bank of Commerce Holdings	7,475	78
*	World Acceptance Corp.	991	77
	Orrstown Financial Services Inc.	4,334	77
	Century Bancorp Inc.	1,056	76
	Norwood Financial Corp.	2,472	76
	Timberland Bancorp Inc.	3,234	75
	Community Bankers Trust Corp.	9,171	75

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	FS Bancorp Inc.	1,561	75
*	PICO Holdings Inc.	7,845	74
*	Ocwen Financial Corp.	59,212	74
	MVB Financial Corp.	4,192	74
	Tiptree Inc.	11,126	73
	Farmland Partners Inc.	12,224	72
	First Bank	7,395	72
*	Select Bancorp Inc.	6,821	72
*	Stratus Properties Inc.	2,493	71
	BCB Bancorp Inc.	6,223	71
	BankFinancial Corp.	6,216	71
	PCB Bancorp	5,225	70
*	Richmond Mutual Bancorporation Inc.	5,144	69
	1st Constitution Bancorp	3,776	69
	Community Financial Corp.	2,166	69
	BRT Apartments Corp.	4,394	69
	Bank of Princeton	2,490	68
	ESSA Bancorp Inc.	4,029	67
	Merchants Bancorp	3,675	66
*	Baycom Corp.	3,068	65
*	MainStreet Bancshares Inc.	3,170	64
*	Cushman & Wakefield plc	3,496	64
	C&F Financial Corp.	1,396	64
	Newmark Group Inc.	6,615	63
	Mid Penn Bancorp Inc.	2,963	63
	Donegal Group Inc.	4,378	62
*	MMA Capital Holdings Inc.	2,050	62
	Riverview Bancorp Inc.	9,578	62
	Prudential Bancorp Inc.	3,717	61
	First Northwest Bancorp	3,806	61
*	Pioneer Bancorp Inc.	4,417	60
	HarborOne Bancorp Inc.	5,968	60
*	Republic First Bancorp Inc.	19,648	60
*	BRP Group Inc. Class A	3,850	59
	Investar Holding Corp.	2,726	58
	Northeast Bank	3,259	58
	Mackinac Financial Corp.	4,135	58
	Hingham Institution for Savings	314	57
	Franklin Financial Services Corp.	1,844	57
*	NI Holdings Inc.	4,046	57
*	Pacific Mercantile Bancorp	8,746	57
	HBT Financial Inc.	3,680	57
	Protective Insurance Corp.	3,987	57
	Hawthorn Bancshares Inc.	2,546	55
	Universal Health Realty Income Trust	509	55
*	Medallion Financial Corp.	9,273	55
	Chemung Financial Corp.	1,510	54
	Level One Bancorp Inc.	2,185	53
	Unity Bancorp Inc.	3,085	53
	Provident Financial Holdings Inc.	2,632	52
*	PDL Community Bancorp	3,651	51
	FNCB Bancorp Inc.	7,749	51
	Marlin Business Services Corp.	2,600	51
*	Malvern Bancorp Inc.	2,657	51
	OP Bancorp	5,685	50
	Peoples Bancorp of North Carolina Inc.	1,955	50
	United Security Bancshares	5,716	50
	Sterling Bancorp Inc.	7,059	49
	Ohio Valley Banc Corp.	1,757	49
*	Capital Bancorp Inc.	3,518	49
	GAIN Capital Holdings Inc.	8,139	48
*	Regional Management Corp.	1,839	47
	Colony Bankcorp Inc.	3,116	46
	First Financial Northwest Inc.	3,311	46

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	Oak Valley Bancorp	2,756	46
	Union Bankshares Inc.	1,365	41
	CBL & Associates Properties Inc.	74,828	40
*	Marcus & Millichap Inc.	1,195	38
*	Altisource Portfolio Solutions SA	2,382	38
*	Esquire Financial Holdings Inc.	1,649	38
	First Guaranty Bancshares Inc.	2,188	37
	Provident Bancorp Inc.	3,391	37
*	Oportun Financial Corp.	1,743	37
^	Pennsylvania REIT	15,330	36
	Fidelity D&D Bancorp Inc.	723	36
*	CrossFirst Bankshares Inc.	2,652	35
	UMH Properties Inc.	2,403	35
	Associated Capital Group Inc.	825	34
*	ProSight Global Inc.	2,329	31
	FedNat Holding Co.	2,298	30
	Bank7 Corp.	1,518	27
	Diamond Hill Investment Group Inc.	169	21
*	Coastal Financial Corp.	1,304	21
	Saul Centers Inc.	479	21
*	Silvergate Capital Corp. Class A	1,297	19
	Alerus Financial Corp.	711	15
*	Transcontinental Realty Investors Inc.	456	14
	Griffin Industrial Realty Inc.	359	14
*	American Realty Investors Inc.	1,058	13
*	Maui Land & Pineapple Co. Inc.	1,209	13
*	Elevate Credit Inc.	2,819	9
	Crawford & Co. Class B	1,165	8
	CIM Commercial Trust Corp.	564	8
	Bank First Corp.	126	7
	Greene County Bancorp Inc.	211	6
	GAMCO Investors Inc. Class A	218	3
*	GWG Holdings Inc.	316	3
*	Avalon GloboCare Corp.	1,133	2
	Value Line Inc.	38	1
			162,150
Health Care (5.3%)
*	Syneos Health Inc.	25,539	1,618
*	Reata Pharmaceuticals Inc.	5,704	1,111
	Patterson Cos. Inc.	36,414	866
*	Prestige Consumer Healthcare Inc.	22,607	845
*	Avanos Medical Inc.	20,644	669
*	Ligand Pharmaceuticals Inc.	6,268	587
*	Allscripts Healthcare Solutions Inc.	70,659	533
*	Brookdale Senior Living Inc.	80,590	529
*	Endo International plc	92,629	511
*	Myriad Genetics Inc.	27,328	482
*	Akebia Therapeutics Inc.	51,535	457
	Luminex Corp.	18,214	451
	National HealthCare Corp.	5,624	417
*	Integer Holdings Corp.	3,810	344
*	LivaNova plc	4,477	312
*	Coherus Biosciences Inc.	15,922	308
*	Hanger Inc.	13,187	304
*	Acceleron Pharma Inc.	3,406	293
*	Tivity Health Inc.	20,586	261
*	Magellan Health Inc.	4,238	254
*	OPKO Health Inc.	166,983	250
*	Anika Therapeutics Inc.	5,815	243
*	Intra-Cellular Therapies Inc.	11,015	232
*	Evolent Health Inc.	25,131	232
*	Varex Imaging Corp.	9,277	215
*	Arcus Biosciences Inc.	13,867	211
*	Arena Pharmaceuticals Inc.	4,408	197

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	Epizyme Inc.	9,137	196
*	Prothena Corp. plc	17,580	187
*	Community Health Systems Inc.	37,956	187
*	AngioDynamics Inc.	16,067	185
	Owens & Minor Inc.	27,003	184
	Option Care Health Inc.	11,927	176
*	HealthStream Inc.	7,121	173
*	PDL BioPharma Inc.	48,463	165
*	Assembly Biosciences Inc.	8,953	162
*	OraSure Technologies Inc.	26,798	162
*	Surgery Partners Inc.	9,535	157
^,*	Mallinckrodt plc	36,303	155
*	Viking Therapeutics Inc.	25,566	151
	Computer Programs & Systems Inc.	5,564	149
*	Triple-S Management Corp.	9,912	149
*	FibroGen Inc.	3,449	144
*	Ardelyx Inc.	20,714	143
*	Meridian Bioscience Inc.	16,664	133
*	Mersana Therapeutics Inc.	15,056	130
*	Cross Country Healthcare Inc.	13,402	127
*	Lannett Co. Inc.	14,270	124
*	Sangamo Therapeutics Inc.	14,486	124
*	ImmunoGen Inc.	27,672	123
^	Novavax Inc.	7,430	119
*	Calithera Biosciences Inc.	17,778	115
*	AMAG Pharmaceuticals Inc.	14,681	114
*	Immunomedics Inc.	7,037	113
	Invacare Corp.	14,826	112
*	Gossamer Bio Inc.	8,540	112
*	G1 Therapeutics Inc.	6,051	109
*	MacroGenics Inc.	10,866	95
*	SeaSpine Holdings Corp.	6,730	95
^,*	Geron Corp.	80,350	92
^,*	Precigen Inc.	23,617	89
*	RTI Surgical Holdings Inc.	24,063	89
*	Intellia Therapeutics Inc.	6,236	83
*	Tenet Healthcare Corp.	2,946	77
*	Concert Pharmaceuticals Inc.	9,146	77
*	Revance Therapeutics Inc.	3,337	77
*	Apyx Medical Corp.	12,716	77
	Progyny Inc.	2,762	76
*	Gritstone Oncology Inc.	8,535	72
*	Aeglea BioTherapeutics Inc.	10,071	69
*	Bridgebio Pharma Inc.	2,077	66
*	Orthofix Medical Inc.	1,863	66
*	Five Prime Therapeutics Inc.	15,238	58
*	TCR2 Therapeutics Inc.	4,594	55
*	Cara Therapeutics Inc.	3,418	51
*	Spero Therapeutics Inc.	5,231	50
*	TG Therapeutics Inc.	3,940	49
*	NanoString Technologies Inc.	1,348	48
*	Adamas Pharmaceuticals Inc.	10,133	46
*	Lineage Cell Therapeutics Inc.	45,711	46
*	Abeona Therapeutics Inc.	14,808	46
*	Molecular Templates Inc.	2,660	43
*	Enzo Biochem Inc.	19,896	42
*	Strongbridge Biopharma plc	15,172	42
*	Akorn Inc.	36,049	42
*	Verrica Pharmaceuticals Inc.	3,171	38
*	Sutro Biopharma Inc.	3,706	36
*	Chimerix Inc.	20,350	36
*	American Renal Associates Holdings Inc.	4,470	36
*	Phathom Pharmaceuticals Inc.	988	36
*	Karuna Therapeutics Inc.	398	35

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	Cerus Corp.	6,712	34
*	Principia Biopharma Inc.	513	33
^	Vir Biotechnology Inc.	668	31
*	Jounce Therapeutics Inc.	6,786	31
	SpringWorks Therapeutics Inc.	957	31
*	Assertio Therapeutics Inc.	28,249	31
*	Harpoon Therapeutics Inc.	1,958	30
	Turning Point Therapeutics Inc.	601	30
*	BioCryst Pharmaceuticals Inc.	9,796	29
^,*	AcelRx Pharmaceuticals Inc.	21,974	29
*	Cytokinetics Inc.	2,050	29
	LeMaitre Vascular Inc.	975	28
*	Acorda Therapeutics Inc.	19,020	27
*	Kezar Life Sciences Inc.	6,183	27
*	AnaptysBio Inc.	1,710	26
*	Constellation Pharmaceuticals Inc.	707	25
	Applied Therapeutics Inc.	594	25
*	Protagonist Therapeutics Inc.	3,153	25
*	Kala Pharmaceuticals Inc.	4,515	24
*	Solid Biosciences Inc.	7,120	23
*	Evelo Biosciences Inc.	4,639	23
	IGM Biosciences Inc.	456	23
*	CareDx Inc.	996	23
*	UNITY Biotechnology Inc.	3,815	23
	Livongo Health Inc.	887	22
*	Viela Bio Inc.	503	22
*	Cellular Biomedicine Group Inc.	1,367	22
	Stoke Therapeutics Inc.	858	21
*	Aprea Therapeutics Inc.	592	20
	Phreesia Inc.	636	20
*	Osmotica Pharmaceuticals plc	3,365	20
	Utah Medical Products Inc.	224	20
*	Menlo Therapeutics Inc.	6,547	19
	Oyster Point Pharma Inc.	517	18
*	Pacific Biosciences of California Inc.	5,371	18
^,*	TherapeuticsMD Inc.	10,566	18
*	Atreca Inc.	722	17
*	WaVe Life Sciences Ltd.	1,992	17
*	Dynavax Technologies Corp.	4,101	16
	Health Catalyst Inc.	500	15
*	Aclaris Therapeutics Inc.	12,949	15
*	Rigel Pharmaceuticals Inc.	6,863	15
*	Affimed NV	6,003	14
*	TransMedics Group Inc.	902	14
*	Synlogic Inc.	6,661	14
*	Minerva Neurosciences Inc.	1,864	14
	NextCure Inc.	306	13
^,*	CEL-SCI Corp.	1,159	13
	Cortexyme Inc.	250	13
*	Enochian Biosciences Inc.	3,783	12
	Phibro Animal Health Corp.	476	12
	Satsuma Pharmaceuticals Inc.	417	12
*	EyePoint Pharmaceuticals Inc.	8,981	12
*	Frequency Therapeutics Inc.	530	11
*	Akero Therapeutics Inc.	524	11
*	VBI Vaccines Inc.	9,213	11
*	Spectrum Pharmaceuticals Inc.	3,830	11
*	Alphatec Holdings Inc.	1,865	11
*	Avid Bioservices Inc.	1,718	11
	Castle Biosciences Inc.	361	11
*	Fulcrum Therapeutics Inc.	554	10
*	Sientra Inc.	2,465	10
*	Aldeyra Therapeutics Inc.	2,695	10
*	NGM Biopharmaceuticals Inc.	540	10

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	89bio Inc.	269	10
*	Cabaletta Bio Inc.	637	10
*	Prevail Therapeutics Inc.	714	9
*	Neon Therapeutics Inc.	5,942	9
*	resTORbio Inc.	6,356	9
	Morphic Holding Inc.	546	9
*	Aduro Biotech Inc.	2,802	9
*	PolarityTE Inc.	5,888	8
*	Personalis Inc.	831	7
*	Kiniksa Pharmaceuticals Ltd.	359	7
*	ADMA Biologics Inc.	2,155	6
	Mirum Pharmaceuticals Inc.	364	6
	Exagen Inc.	316	5
*	Rockwell Medical Inc.	1,847	5
*	ElectroCore Inc.	5,445	4
*	CASI Pharmaceuticals Inc.	2,134	4
*	Hookipa Pharma Inc.	376	4
*	Beyondspring Inc.	225	4
	RAPT Therapeutics Inc.	179	4
*	Eloxx Pharmaceuticals Inc.	1,114	3
*	Galera Therapeutics Inc.	157	3
*	Xeris Pharmaceuticals Inc.	611	2
	TransEnterix Inc.	1,817	2
*	Cyclerion Therapeutics Inc.	495	2
	Passage Bio Inc.	81	2
*	Evofem Biosciences Inc.	297	2
	Tela Bio Inc.	98	2
			20,549
Materials & Processing (5.9%)
	Louisiana-Pacific Corp.	44,751	1,273
	Rexnord Corp.	42,018	1,225
	Commercial Metals Co.	52,359	956
*	Summit Materials Inc.	40,670	795
	Carpenter Technology Corp.	21,162	778
*	Gibraltar Industries Inc.	14,354	727
*	BMC Stock Holdings Inc.	29,478	723
*	Beacon Roofing Supply Inc.	24,039	714
	Stepan Co.	8,051	707
	Minerals Technologies Inc.	15,633	701
	Belden Inc.	17,021	680
^	Cleveland-Cliffs Inc.	99,790	580
*	Livent Corp.	64,092	572
	Hecla Mining Co.	213,919	565
	Boise Cascade Co.	12,965	460
	Schweitzer-Mauduit International Inc.	13,481	455
	Sensient Technologies Corp.	8,912	438
*	Coeur Mining Inc.	103,736	432
	Greif Inc. Class A	11,861	419
	Worthington Industries Inc.	13,069	416
	Trinseo SA	17,146	375
	Kaiser Aluminum Corp.	3,301	312
	Mueller Industries Inc.	10,900	305
	Mueller Water Products Inc.	27,713	303
	Griffon Corp.	15,941	277
*	MRC Global Inc.	30,944	269
	PH Glatfelter Co.	18,872	269
*	Novagold Resources Inc.	30,338	242
	Quanex Building Products Corp.	14,306	240
	Materion Corp.	5,213	236
*	Verso Corp.	14,092	230
	HB Fuller Co.	5,674	223
*	GMS Inc.	9,584	219
*	PQ Group Holdings Inc.	16,434	218
	Tredegar Corp.	11,305	193

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
	American Vanguard Corp.	12,637	193
*	Clearwater Paper Corp.	7,029	192
*	PGT Innovations Inc.	12,545	190
*	AK Steel Holding Corp.	81,063	187
	Schnitzer Steel Industries Inc.	11,268	186
*	AdvanSix Inc.	12,274	178
	Patrick Industries Inc.	3,239	171
	Insteel Industries Inc.	8,003	159
	Tronox Holdings plc Class A	21,322	157
	Hawkins Inc.	4,227	151
*	Cornerstone Building Brands Inc.	20,005	147
	US Silica Holdings Inc.	31,748	146
	NN Inc.	18,402	143
	Haynes International Inc.	5,408	137
	Universal Forest Products Inc.	2,890	135
*	Unifi Inc.	6,322	135
*	UFP Technologies Inc.	2,679	132
	Orion Engineered Carbons SA	9,192	131
*	Northwest Pipe Co.	4,099	129
*	Century Aluminum Co.	22,002	128
	Innospec Inc.	1,432	124
	FutureFuel Corp.	11,329	115
*	Landec Corp.	11,221	115
	Gold Resource Corp.	26,771	108
	Caesarstone Ltd.	9,857	107
*	Kraton Corp.	9,735	99
	Greif Inc.	2,448	98
	Kronos Worldwide Inc.	9,760	97
*	Foundation Building Materials Inc.	6,250	97
*	TimkenSteel Corp.	17,586	89
*	Builders FirstSource Inc.	3,847	87
*	Ferro Corp.	6,464	75
	Neenah Inc.	1,287	74
*	Intrepid Potash Inc.	41,829	74
^,*	Amyris Inc.	22,544	72
	Oil-Dri Corp. of America	2,319	71
*	Veritiv Corp.	5,738	69
	United States Lime & Minerals Inc.	838	67
*	LB Foster Co.	3,981	63
*	JELD-WEN Holding Inc.	3,131	59
	Eastern Co.	2,299	59
	PolyOne Corp.	2,167	54
	Apogee Enterprises Inc.	1,701	51
	Rayonier Advanced Materials Inc.	20,733	51
*	Koppers Holdings Inc.	2,297	50
^,*	Energy Fuels Inc.	40,051	47
	Olympic Steel Inc.	3,899	47
*	BlueLinx Holdings Inc.	3,893	46
	Culp Inc.	4,694	43
*	Masonite International Corp.	553	41
*	Synalloy Corp.	3,531	40
*	Concrete Pumping Holdings Inc.	6,944	36
*	Armstrong Flooring Inc.	7,624	20
*	LSB Industries Inc.	9,545	19
	Valhi Inc.	11,626	16
*	NL Industries Inc.	3,555	12
	CompX International Inc.	699	10
*	Ryerson Holding Corp.	441	4
*	Marrone Bio Innovations Inc.	1,212	1
^§,*	Ferroglobe Representation & Warranty	19,424	—
			23,061
Other (0.0%)¹
	PPD Inc.	1,037	29
*	Reynolds Consumer Products Inc.	771	22

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	Arcutis Biotherapeutics Inc.	318	8
	Schrodinger Inc.	127	6
*	Sprout Social Inc. Class A	213	4
*	REVOLUTION Medicines Inc.	91	3
*	1Life Healthcare Inc.	77	2
	Beam Therapeutics Inc.	70	2
^§,*	NewStar Financial Inc. CVR	6,148	2
*	Black Diamond Therapeutics Inc.	54	1
^§,*	Media General Inc. CVR	35,434	1
^§,*	Corium CVR	871	—
			80
Producer Durables (12.1%)
*	Darling Ingredients Inc.	71,929	1,849
*	FTI Consulting Inc.	14,809	1,667
	KBR Inc.	62,255	1,616
	UniFirst Corp.	6,633	1,233
	GATX Corp.	15,648	1,119
	Kennametal Inc.	36,845	1,024
	Barnes Group Inc.	18,481	992
	SkyWest Inc.	21,752	988
	ABM Industries Inc.	29,420	969
*	Allegheny Technologies Inc.	56,191	960
	Altra Industrial Motion Corp.	28,867	870
	Triton International Ltd.	23,898	821
*	Navistar International Corp.	21,610	785
	Aircastle Ltd.	22,833	727
*	SPX FLOW Inc.	18,253	671
*	Hub Group Inc.	14,393	665
	Werner Enterprises Inc.	19,704	662
	Cubic Corp.	11,500	626
	Matson Inc.	18,543	616
*	CBIZ Inc.	22,877	596
	Deluxe Corp.	17,701	589
	Kaman Corp.	10,344	574
*	Sykes Enterprises Inc.	16,660	528
	AAR Corp.	14,871	514
*	Huron Consulting Group Inc.	8,560	508
	Mobile Mini Inc.	12,852	501
*	TriMas Corp.	19,568	496
	Rush Enterprises Inc. Class A	11,825	496
	Watts Water Technologies Inc.	5,226	491
	Otter Tail Corp.	9,739	473
	EMCOR Group Inc.	6,087	468
*	Aerojet Rocketdyne Holdings Inc.	9,482	467
	Steelcase Inc.	28,702	466
	EnPro Industries Inc.	8,429	455
	Encore Wire Corp.	8,877	435
	SFL Corp. Ltd.	35,564	432
	Hawaiian Holdings Inc.	20,160	421
*	Saia Inc.	4,556	398
	EnerSys	6,425	396
	Astec Industries Inc.	10,200	383
	Scorpio Tankers Inc.	19,233	380
*	SP Plus Corp.	9,948	363
*	Herc Holdings Inc.	9,747	358
	Granite Construction Inc.	17,451	355
	Standex International Corp.	5,541	351
	ACCO Brands Corp.	43,844	351
	Heartland Express Inc.	19,413	348
	Greenbrier Cos. Inc.	13,956	338
	Marten Transport Ltd.	16,995	332
	Hillenbrand Inc.	13,928	326
	Triumph Group Inc.	16,269	309
	Lindsay Corp.	3,091	306

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	CIRCOR International Inc.	8,490	305
	AZZ Inc.	7,786	287
*	SEACOR Holdings Inc.	7,554	282
*	Atlas Air Worldwide Holdings Inc.	10,113	270
*	Enerpac Tool Group Corp. Class A	12,297	263
*	Vectrus Inc.	4,910	256
	Wabash National Corp.	23,275	256
*	Tutor Perini Corp.	17,283	251
*	TrueBlue Inc.	16,801	250
*	Conduent Inc.	74,949	245
	Kelly Services Inc.	14,479	241
*	Aegion Corp.	13,332	240
*	Tidewater Inc.	17,073	237
	McGrath RentCorp	3,371	234
	ICF International Inc.	2,964	225
	Ennis Inc.	11,044	222
	DHT Holdings Inc.	39,617	220
	ArcBest Corp.	11,079	220
*	International Seaways Inc.	10,970	218
*	Echo Global Logistics Inc.	11,600	214
	Hyster-Yale Materials Handling Inc.	4,377	211
	MTS Systems Corp.	5,193	208
*	DXP Enterprises Inc.	7,071	201
	Gorman-Rupp Co.	6,077	194
	Nordic American Tankers Ltd.	60,180	194
*	Manitowoc Co. Inc.	15,242	190
*	BrightView Holdings Inc.	13,576	190
*	Textainer Group Holdings Ltd.	22,812	188
*	Spirit Airlines Inc.	6,372	181
*	CAI International Inc.	7,236	179
*	Thermon Group Holdings Inc.	10,148	178
*	Modine Manufacturing Co.	23,631	176
	Brady Corp. Class A	3,719	176
*	Ducommun Inc.	3,894	174
	Teekay Tankers Ltd. Class A	10,277	170
*	Team Inc.	12,899	164
	Heidrick & Struggles International Inc.	7,266	162
*	SPX Corp.	3,557	149
*	ASGN Inc.	2,924	148
	Terex Corp.	6,690	147
	Costamare Inc.	22,385	146
	Moog Inc.	1,827	141
	Miller Industries Inc.	4,527	135
	HNI Corp.	3,989	131
	Powell Industries Inc.	3,891	130
	Pitney Bowes Inc.	37,086	127
*	Sterling Construction Co. Inc.	8,842	121
	Columbus McKinnon Corp.	3,871	120
	Primoris Services Corp.	6,234	118
	Resources Connection Inc.	9,245	116
	Park Aerospace Corp.	8,072	112
	CRA International Inc.	2,409	112
*	Arlo Technologies Inc.	33,159	109
*	Teekay Corp.	29,697	109
*	Dorian LPG Ltd.	9,591	107
	VSE Corp.	3,577	105
	Park-Ohio Holdings Corp.	4,163	102
*	Diamond S Shipping Inc.	9,576	99
*	Lydall Inc.	7,426	88
	Rush Enterprises Inc. Class B	2,029	85
*	Titan Machinery Inc.	8,266	84
*	CECO Environmental Corp.	12,296	83
	H&E Equipment Services Inc.	3,489	83
*	Covenant Transportation Group Inc.	6,642	80

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
^,*	Construction Partners Inc. Class A	4,699	80
	Hurco Cos. Inc.	2,807	79
*	Dycom Industries Inc.	2,647	78
	REV Group Inc.	9,959	78
	Graham Corp.	4,062	67
	Quad/Graphics Inc.	13,951	67
*	Willis Lease Finance Corp.	1,162	66
	Preformed Line Products Co.	1,323	65
*	Daseke Inc.	19,388	64
*	GP Strategies Corp.	5,731	64
	Ardmore Shipping Corp.	11,534	63
*	Advanced Disposal Services Inc.	1,909	63
*	Eagle Bulk Shipping Inc.	18,814	62
	Alamo Group Inc.	562	62
	Scorpio Bulkers Inc.	19,331	62
*	InnerWorkings Inc.	19,567	61
*	Blue Bird Corp.	3,394	61
	RR Donnelley & Sons Co.	31,169	59
*	Commercial Vehicle Group Inc.	13,350	58
	ESCO Technologies Inc.	638	58
	Spartan Motors Inc.	3,828	56
	Briggs & Stratton Corp.	17,703	56
	Argan Inc.	1,306	55
	Franklin Electric Co. Inc.	1,043	54
*	Mistras Group Inc.	6,765	53
*	Information Services Group Inc.	16,325	52
*	Heritage-Crystal Clean Inc.	1,909	50
	Genco Shipping & Trading Ltd.	6,412	49
*	DHI Group Inc	21,322	49
*	American Superconductor Corp.	6,988	48
	Titan International Inc.	21,295	47
*	Overseas Shipholding Group Inc. Class A	27,434	47
*	Liquidity Services Inc.	11,631	46
*	IES Holdings Inc.	1,894	44
*	StarTek Inc.	7,001	44
	Federal Signal Corp.	1,468	43
*	US Xpress Enterprises Inc.	9,207	40
	BG Staffing Inc.	2,374	37
*	Twin Disc Inc.	4,327	35
	Kimball International Inc.	2,072	34
	GasLog Ltd.	5,954	33
*	Gencor Industries Inc.	3,277	33
*	Vishay Precision Group Inc.	1,119	31
*	YRC Worldwide Inc.	14,122	30
*	Safe Bulkers Inc.	21,880	29
*	Mesa Air Group Inc.	4,912	28
*	Great Lakes Dredge & Dock Corp.	2,841	28
	Systemax Inc.	1,265	26
*	FARO Technologies Inc.	406	23
	Knoll Inc.	1,208	21
*	General Finance Corp.	2,735	21
	Hackett Group Inc.	964	15
	Luxfer Holdings plc	891	14
	Roadrunner Transportation Systems Inc.	1,498	11
*	PAM Transportation Services Inc.	252	10
*	Charah Solutions Inc.	4,004	9
	Advanced Emissions Solutions Inc.	776	7
*	Exela Technologies Inc.	4,025	1
			46,849
Technology (9.1%)
*	Lumentum Holdings Inc.	33,882	2,637
*	Tech Data Corp.	15,561	2,216
*	Cirrus Logic Inc.	25,516	1,751
	Perspecta Inc.	57,162	1,427

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	Anixter International Inc.	13,428	1,309
	Vishay Intertechnology Inc.	59,278	1,109
*	LiveRamp Holdings Inc.	29,770	1,055
*	Synaptics Inc.	14,869	982
*	Cloudera Inc.	100,098	891
	ManTech International Corp.	11,838	887
*	NetScout Systems Inc.	32,287	830
*	Plexus Corp.	10,917	724
*	Rambus Inc.	49,066	686
*	FormFactor Inc.	30,538	683
	KEMET Corp.	25,271	659
*	Avaya Holdings Corp.	48,364	627
*	Sanmina Corp.	23,104	607
*	Knowles Corp.	36,061	599
*	Diodes Inc.	13,602	599
*	TTM Technologies Inc.	44,383	577
*	Insight Enterprises Inc.	9,630	531
*	Infinera Corp.	77,832	529
*	MACOM Technology Solutions Holdings Inc.	20,417	516
	Methode Electronics Inc.	16,342	501
*	Onto Innovation Inc.	16,097	492
*	Ambarella Inc.	8,184	487
*	3D Systems Corp.	51,428	471
*	Amkor Technology Inc.	43,885	458
	AVX Corp.	20,536	446
	Benchmark Electronics Inc.	16,119	438
*	II-VI Inc.	13,848	411
	TiVo Corp.	53,866	408
^	Maxar Technologies Inc.	25,937	395
	CTS Corp.	14,768	385
*	Photronics Inc.	29,164	363
	Cohu Inc.	17,600	360
*	Stratasys Ltd.	22,458	359
*	Ultra Clean Holdings Inc.	17,123	358
*	Axcelis Technologies Inc.	13,987	336
*	ScanSource Inc.	11,001	313
	Xperi Corp.	17,204	296
	Comtech Telecommunications Corp.	10,357	290
*	Veeco Instruments Inc.	20,824	279
*	NETGEAR Inc.	12,899	243
*	Harmonic Inc.	37,953	233
*	Ichor Holdings Ltd.	7,862	227
	PC Connection Inc.	4,887	199
*	PDF Solutions Inc.	11,422	167
	ADTRAN Inc.	20,613	166
*	Digi International Inc.	12,139	161
*	SMART Global Holdings Inc.	5,878	158
*	Limelight Networks Inc.	29,678	150
	Brooks Automation Inc.	4,113	142
*	CalAmp Corp.	14,499	139
*	Kimball Electronics Inc.	10,095	137
^,*	Inseego Corp.	19,692	137
	QAD Inc.	2,444	120
*	NeoPhotonics Corp.	17,344	115
*	Diebold Nixdorf Inc.	15,994	112
*	Semtech Corp.	2,693	106
*	Unisys Corp.	6,726	104
*	Blucora Inc.	5,892	103
*	Alpha & Omega Semiconductor Ltd.	8,849	96
*	Immersion Corp.	13,515	94
*	GTY Technology Holdings Inc.	17,139	92
*	Calix Inc.	9,813	88
	American Software Inc.	5,239	86
*	Ribbon Communications Inc.	26,175	85

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020


		Shares	Market Value ($000)
*	Verint Systems Inc.	1,540	85
*	DSP Group Inc.	6,192	84
*	KVH Industries Inc.	8,087	84
*	Synchronoss Technologies Inc.	16,510	81
*	Rubicon Project Inc.	7,116	81
	Daktronics Inc.	16,197	80
*	comScore Inc.	21,308	75
*	Bandwidth Inc. Class A	1,175	74
*	Applied Optoelectronics Inc.	8,031	72
*	Fabrinet	1,280	71
*	OneSpan Inc.	4,141	68
*	ePlus Inc.	833	63
*	AXT Inc.	16,351	57
*	Meet Group Inc.	10,567	54
	Bel Fuse Inc.	4,236	48
*	Acacia Research Corp.	20,628	47
*	GSI Technology Inc.	6,972	46
*	Telenav Inc.	7,596	45
*	SecureWorks Corp.	3,220	45
*	Ping Identity Holding Corp.	1,026	24
*	CEVA Inc.	746	21
*	Adesto Technologies Corp.	1,559	19
	TESSCO Technologies Inc.	2,925	18
*	TrueCar Inc.	6,166	16
	NVE Corp.	129	8
*	Digimarc Corp.	269	5
*	Leaf Group Ltd.	1,822	5
*	Cambium Networks Corp.	701	4
*	Casa Systems Inc.	1,202	4
*	DASAN Zhone Solutions Inc.	193	1
*	Ideanomics Inc.	1,480	1
			35,123
Utilities (6.9%)
	Portland General Electric Co.	39,259	2,136
	Black Hills Corp.	26,890	1,941
	ONE Gas Inc.	22,987	1,888
	Spire Inc.	21,928	1,646
	PNM Resources Inc.	34,825	1,640
	ALLETE Inc.	22,855	1,577
	NorthWestern Corp.	22,364	1,573
	Avista Corp.	29,185	1,376
	Southwest Gas Holdings Inc.	21,129	1,367
	New Jersey Resources Corp.	36,288	1,281
*	Iridium Communications Inc.	43,973	1,190
	Pattern Energy Group Inc. Class A	39,035	1,056
	El Paso Electric Co.	14,810	1,005
	South Jersey Industries Inc.	35,032	948
	Ormat Technologies Inc.	11,288	787
	Northwest Natural Holding Co.	11,456	753
	MGE Energy Inc.	9,889	705
	Clearway Energy Inc.	32,673	687
	Unitil Corp.	6,575	370
	Clearway Energy Inc. Class A	15,329	311
*	Vonage Holdings Corp.	31,638	283
*	Cincinnati Bell Inc.	21,694	283
	ATN International Inc.	4,809	259
	SJW Group	4,035	247
	Consolidated Communications Holdings Inc.	30,792	192
	TerraForm Power Inc.	9,908	186
*	AquaVenture Holdings Ltd.	5,174	140
	Artesian Resources Corp.	3,512	121
^,*	Intelsat SA	29,245	113
	Consolidated Water Co. Ltd.	6,394	103
	RGC Resources Inc.	3,324	91

Vanguard^®Russell 2000 Value Index Fund
Schedule of Investments
February 29, 2020

		Shares	Market Value ($000)
	Spok Holdings Inc.	7,799	78
	California Water Service Group	1,191	57
	Middlesex Water Co.	952	57
^,*	Cadiz Inc.	5,688	50
*	Atlantic Power Corp.	17,304	39
	Genie Energy Ltd. Class B	3,624	25
^,*	Frontier Communications Corp.	44,540	24
	York Water Co.	556	24
*	ORBCOMM Inc.	6,051	20
^,*	Pareteum Corp.	35,441	20
*	IDT Corp.	1,816	14
			26,663
Total Common Stocks (Cost $413,809)			384,134

		Coupon
Temporary Cash Investments (1.6%)
Money Market Fund (1.6%)
^2,3	Vanguard Market Liquidity Fund	1.706%		60,167	6,019

			Maturity Date	Face Amount ($000)
U.S. Government and Agency Obligations (0.0%)
⁴	United States Treasury Bill	1.543%	4/16/20	84	84
Total Temporary Cash Investments (Cost $6,102)					6,103
Total Investments (100.7%) (Cost $419,911)					390,237
Other Assets and Liabilities—Net (-0.7%)^3,4					(2,720)
Net Assets (100%)					387,517

Cost rounded to $000.

*	Non-income-producing security.

^	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $4,181,000.

§	Security value determined using significant unobservable inputs.

1	“Other” represents securities that are not classified by the fund's benchmark index.

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 $4,563,000 was received for securities on loan, of which $4,542,000 is held in Vanguard Market Liquidity Fund and $21,000 is held in cash.

4	Securities with a value of $84,000 and cash of $5,000 have been segregated as initial margin for open futures contracts. CVR—Contingent Value Rights. REIT—Real Estate Investment Trust.

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
Common Stocks (99.9%)
Consumer Discretionary (13.0%)
*	Deckers Outdoor Corp.		22,932		3,986
*	Chegg Inc.		96,699		3,792
	Churchill Downs Inc.		28,666		3,602
*	SiteOne Landscape Supply Inc.		33,338		3,309
	Texas Roadhouse Inc.		53,916		3,031
	Cracker Barrel Old Country Store Inc.		19,609		2,811
*	Eldorado Resorts Inc.		53,908		2,705
	Strategic Education Inc.		17,405		2,565
	Steven Madden Ltd.		68,592		2,243
*	National Vision Holdings Inc.		64,051		2,230
*	Fox Factory Holding Corp.		30,749		1,949
	LCI Industries		19,934		1,925
	Aaron's Inc.		48,894		1,923
*	Cimpress plc		16,260		1,893
	Wingstop Inc.		22,128		1,869
	Boyd Gaming Corp.		59,553		1,591
*	Avis Budget Group Inc.		47,055		1,523
	American Eagle Outfitters Inc.		116,755		1,504
	Monro Inc.		26,705		1,499
*	Crocs Inc.		56,362		1,475
*	Cavco Industries Inc.		7,032		1,418
*	Shake Shack Inc.		23,737		1,411
*	Asbury Automotive Group Inc.		15,778		1,399
*	YETI Holdings Inc.		45,507		1,377
*	Instructure Inc.		28,069		1,369
	Lithia Motors Inc. Class A		11,269		1,343
*	Dorman Products Inc.		22,028		1,336
	Bloomin' Brands Inc.		71,176		1,280
*	LGI Homes Inc.		16,547		1,247
	Cheesecake Factory Inc.		33,895		1,208
	Red Rock Resorts Inc.		56,891		1,172
*	Meritor Inc.		51,052		1,158
*	American Woodmark Corp.		13,696		1,147
*	Gentherm Inc.		27,106		1,105
*	SeaWorld Entertainment Inc.		38,390		1,045
*	Skyline Champion Corp.		40,939		1,043
*	Cardlytics Inc.		11,686		928
	Winnebago Industries Inc.		17,856		927
	Papa John's International Inc.		16,079		926
*	Sleep Number Corp.		20,931		922
	Rent-A-Center Inc.		40,472		862
	Inter Parfums Inc.		14,335		861
	Meredith Corp.		32,640		860
	Core-Mark Holding Co. Inc.		36,966		851
*	Perdoceo Education Corp.		56,203		839
	Wolverine World Wide Inc.		31,753		835
	Dave & Buster's Entertainment Inc.		25,188		831
*	Scientific Games Corp.		45,436		829
	Viad Corp.		16,348		821
	Brinker International Inc.		23,103		794
*	Liberty Media Corp-Liberty Braves Class C		29,893		777
*	Malibu Boats Inc.		16,726		735
	Children's Place Inc.		12,424		716
^{*,^}	Stitch Fix Inc. Class A		29,683		713
*	Boot Barn Holdings Inc.		22,816		700
*	Rh		3,843		697
*	Sonos Inc.		57,776		667
*	IMAX Corp.		42,771		666
	Dine Brands Global Inc.		7,768		636
	Interface Inc.		42,720		623
*	Denny's Corp.		35,393		616

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Shutterstock Inc.		15,859		611
*	BJ's Wholesale Club Holdings Inc.		31,460		606
	Sturm Ruger & Co. Inc.		12,524		602
	Marriott Vacations Worldwide Corp.		6,216		602
*	Gray Television Inc.		30,230		572
*	America's Car-Mart Inc.		5,098		524
	BJ's Restaurants Inc.		15,727		518
*	WillScot Corp.		29,130		511
*	QuinStreet Inc.		37,544		484
	KB Home		13,914		453
	La-Z-Boy Inc.		15,588		447
	Ruth's Hospitality Group Inc.		22,756		435
*	Universal Electronics Inc.		10,009		423
*	Murphy USA Inc.		4,077		397
	Camping World Holdings Inc.		26,915		368
	Twin River Worldwide Holdings Inc.		14,097		366
*	1-800-Flowers.com Inc.		20,270		366
^{*,^}	GoPro Inc.		94,678		359
*	Monarch Casino & Resort Inc.		7,375		349
*	Central European Media Enterprises Ltd.		72,375		321
	Oxford Industries Inc.		5,299		320
*	Century Communities Inc.		9,443		315
*	Penn National Gaming Inc.		10,063		298
	Kontoor Brands Inc.		8,604		290
*	Liberty TripAdvisor Holdings Inc.		62,391		272
*	Taylor Morrison Home Corp.		11,867		267
*	Franklin Covey Co.		7,973		251
*	Fitbit Inc.		38,568		246
*	MasterCraft Boat Holdings Inc.		15,038		243
	Designer Brands Inc. Class A		17,809		241
	Jack in the Box Inc.		3,243		223
*	Lindblad Expeditions Holdings Inc.		18,722		223
*	Liberty Media Corp-Liberty Braves Class A		8,186		213
*	Noodles & Co.		23,490		191
	Winmark Corp.		817		163
*	Hemisphere Media Group Inc.		12,601		159
	Standard Motor Products Inc.		3,612		159
	Johnson Outdoors Inc.		2,523		157
	Collectors Universe Inc.		6,752		155
*	Funko Inc.		17,717		144
	Clarus Corp.		11,556		134
*	Drive Shack Inc.		44,111		126
^{^}	Tailored Brands Inc.		36,154		118
*	Boston Omaha Corp.		5,932		115
*	Golden Entertainment Inc		6,938		113
*	MDC Partners Inc.		44,658		112
	PriceSmart Inc.		1,571		87
^{*,^}	Revlon Inc.		4,940		85
	Marine Products Corp.		6,014		76
*	Habit Restaurants Inc.		5,182		72
*	Fluent Inc.		30,503		71
*	Cars.com Inc.		7,657		69
*	Chuy's Holdings Inc.		3,205		69
*	Biglari Holdings Inc.		610		64
*	Lovesac Co.		6,934		60
	Hamilton Beach Brands Holding Co.		5,155		60
	Nathan's Famous Inc.		998		59
^{*,^}	Duluth Holdings Inc.		8,389		58
*	Quotient Technology Inc.		6,057		54
*	Stoneridge Inc.		2,335		52
*	RealReal Inc.		3,687		52
*	elf Beauty Inc.		3,086		49
*	K12 Inc.		2,355		47
*	Rosetta Stone Inc.		2,684		46

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	National CineMedia Inc.		5,403		42
*	Lumber Liquidators Holdings Inc.		4,183		41
*	Select Interior Concepts Inc. Class A		4,801		36
*	LiveXLive Media Inc.		27,092		34
*	Inspired Entertainment Inc.		6,468		34
	National Presto Industries Inc.		382		30
	Kura Sushi USA Inc. Class A		1,485		28
*	Centric Brands Inc.		12,785		26
*	Purple Innovation Inc. Class A		1,793		24
	Superior Group of Cos. Inc.		1,944		23
*	Overstock.com Inc.		3,317		21
*	Clear Channel Outdoor Holdings Inc.		10,233		21
*	Legacy Housing Corp.		1,330		19
	Entravision Communications Corp. Class A		9,401		19
*	Regis Corp.		1,411		18
*	Hibbett Sports Inc.		895		17
*	Hudson Ltd. Class A		1,875		17
*	MarineMax Inc.		929		16
^{*,^}	Eros International plc		5,661		13
*	Green Brick Partners Inc.		1,184		13
	Hooker Furniture Corp.		659		12
*	At Home Group Inc.		2,477		12
*	ZAGG Inc.		1,271		8
*	Youngevity International Inc.		6,396		7
*	Carrols Restaurant Group Inc.		1,519		6
^{*,^}	Waitr Holdings Inc.		7,975		3
					103,347
Consumer Staples (3.3%)
*	Performance Food Group Co.		84,086		3,565
*	Helen of Troy Ltd.		20,520		3,378
*	Boston Beer Co. Inc. Class A		6,826		2,531
	J&J Snack Foods Corp.		12,362		1,988
	WD-40 Co.		11,224		1,936
*	Freshpet Inc.		28,124		1,869
	Sanderson Farms Inc.		13,646		1,686
	Lancaster Colony Corp.		11,194		1,617
	Vector Group Ltd.		85,108		989
	Calavo Growers Inc.		13,195		956
	Coca-Cola Consolidated Inc.		3,828		752
	Medifast Inc.		9,040		751
*	USANA Health Sciences Inc.		10,260		678
*	Chefs' Warehouse Inc.		20,009		613
	John B Sanfilippo & Son Inc.		7,052		495
^{*,^}	National Beverage Corp.		9,653		408
	Tootsie Roll Industries Inc.		11,901		382
*	BellRing Brands Inc. Class A		19,015		374
	MGP Ingredients Inc.		10,645		306
*	Primo Water Corp.		19,653		275
	Turning Point Brands Inc.		6,757		177
*	Celsius Holdings Inc.		23,262		137
*	Lifevantage Corp.		11,384		135
^{*,^}	New Age Beverages Corp.		62,233		126
	PetMed Express Inc.		4,542		120
^{*,^}	HF Foods Group Inc.		6,241		112
^{^}	B&G Foods Inc.		5,310		79
^{*,^}	22nd Century Group Inc.		94,676		70
	Limoneira Co.		3,638		61
*	Bridgford Foods Corp.		1,337		23
*	Greenlane Holdings Inc. Class A		7,671		16
*	Craft Brew Alliance Inc.		732		12
					26,617
Energy (1.2%)
*	Enphase Energy Inc.		74,962		3,671
*	Sunrun Inc.		92,129		1,782

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Cactus Inc.		38,588		1,054
*	TPI Composites Inc.		23,694		562
	DMC Global Inc		11,522		415
*	Vivint Solar Inc.		35,930		404
*	ProPetro Holding Corp.		37,460		328
	CVR Energy Inc.		10,046		286
	Solaris Oilfield Infrastructure Inc.		25,343		269
	Brigham Minerals Inc. Class A		9,255		148
^{*,^}	Tellurian Inc.		77,147		139
	Evolution Petroleum Corp.		19,583		92
*	Matador Resources Co.		9,282		89
	Liberty Oilfield Services Inc.		12,462		83
	Golar LNG Ltd.		5,874		75
*	Altus Midstream Co. Class A		40,023		58
	Sunnova Energy International Inc.		3,126		54
*	RigNet Inc.		11,226		40
*	NextDecade Corp.		10,269		39
*	PrimeEnergy Resources Corp.		280		37
*	Ring Energy Inc.		19,718		28
*	Goodrich Petroleum Corp.		4,591		24
	Falcon Minerals Corp.		4,892		20
*	US Well Services Inc.		12,285		13
*	FTS International Inc.		12,142		11
*	Rosehill Resources Inc.		8,079		6
*	SilverBow Resources Inc.		566		2
					9,729
Financial Services (11.1%)
	EastGroup Properties Inc.		30,941		3,890
	First Financial Bankshares Inc.		106,552		3,062
	QTS Realty Trust Inc.		47,226		2,653
	FirstCash Inc.		34,236		2,633
	RLI Corp.		32,636		2,623
	Ryman Hospitality Properties Inc.		37,453		2,603
	PS Business Parks Inc.		16,341		2,427
	Federated Hermes Inc.		78,737		2,272
*	eHealth Inc.		18,621		2,185
	Ares Management Corp. Class A		58,690		2,030
	Kinsale Capital Group Inc.		16,686		2,027
*	Redfin Corp.		73,164		1,980
	Houlihan Lokey Inc.		34,384		1,761
	Essent Group Ltd.		39,865		1,740
	American Assets Trust Inc.		39,518		1,638
	National Storage Affiliates Trust		48,501		1,636
	Four Corners Property Trust Inc.		55,843		1,602
*	Cushman & Wakefield plc		86,150		1,567
	Uniti Group Inc.		150,792		1,472
	EVERTEC Inc.		49,567		1,471
	GEO Group Inc.		97,219		1,423
*	NMI Holdings Inc.		53,180		1,241
	National Health Investors Inc.		15,163		1,239
	CareTrust REIT Inc.		58,173		1,214
	Selective Insurance Group Inc.		21,712		1,211
	Cohen & Steers Inc.		18,517		1,160
	ServisFirst Bancshares Inc.		32,630		1,127
*	Green Dot Corp.		32,905		1,124
	Hamilton Lane Inc.		17,968		1,117
	Kennedy-Wilson Holdings Inc.		51,000		1,031
	Universal Health Realty Income Trust		9,456		1,019
	Moelis & Co.		31,603		1,010
	Newmark Group Inc.		104,372		997
^{^}	Tanger Factory Outlet Centers Inc.		73,901		885
*	Cardtronics plc		24,123		875
^{^}	Innovative Industrial Properties Inc.		9,283		854
	First Industrial Realty Trust Inc.		21,060		811

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Axos Financial Inc.		29,674		739
*	Evo Payments Inc.		28,987		733
^{*,^}	Trupanion Inc.		23,497		722
	NexPoint Residential Trust Inc.		16,218		722
	LTC Properties Inc.		15,861		711
*	Focus Financial Partners Inc.		25,119		683
	National General Holdings Corp.		33,247		647
	Artisan Partners Asset Management Inc.		21,909		626
	Lakeland Financial Corp.		14,794		605
*	Everi Holdings Inc.		56,277		585
	Meta Financial Group Inc.		16,909		556
	Cass Information Systems Inc.		11,548		542
	Alexander's Inc.		1,743		542
*	Marcus & Millichap Inc.		16,504		528
	iStar Inc.		34,372		520
*	Palomar Holdings Inc.		10,110		514
	Goosehead Insurance Inc.		9,334		506
	PJT Partners Inc.		10,857		488
	James River Group Holdings Ltd.		11,595		469
	RMR Group Inc.		12,469		465
	Community Healthcare Trust Inc.		9,247		440
	Bank of NT Butterfield & Son Ltd.		14,639		405
	Saul Centers Inc.		8,995		387
*	Mr Cooper Group Inc.		29,882		383
	Glacier Bancorp Inc.		10,188		380
	UMH Properties Inc.		24,629		357
*	I3 Verticals Inc.		11,819		343
*	Enova International Inc.		17,653		339
	Easterly Government Properties Inc.		13,894		330
	Independent Bank Group Inc.		6,969		323
*	Triumph Bancorp Inc.		9,044		306
	Terreno Realty Corp.		5,401		296
	Veritex Holdings Inc.		12,065		290
*	Enstar Group Ltd.		1,616		288
	Diamond Hill Investment Group Inc.		2,216		281
	Ameris Bancorp		7,848		268
	Bank First Corp.		4,464		264
	National Bank Holdings Corp.		7,851		240
	Armada Hoffler Properties Inc.		14,034		235
^{*,^}	Health Insurance Innovations Inc.		7,969		234
	Westamerica Bancorporation		3,969		230
	Kearny Financial Corp.		20,182		220
	FB Financial Corp.		6,669		217
*	World Acceptance Corp.		2,590		202
^{*,^}	Paysign Inc.		24,373		196
	Bluerock Residential Growth REIT Inc.		18,490		192
	New Senior Investment Group Inc.		30,181		183
	Greenhill & Co. Inc.		12,330		180
	Walker & Dunlop Inc.		2,687		174
*	Seacoast Banking Corp. of Florida		6,960		173
	Independent Bank Corp.		2,531		171
	Preferred Bank		3,342		171
	Universal Insurance Holdings Inc.		8,132		168
	WisdomTree Investments Inc.		41,125		167
	Federal Agricultural Mortgage Corp.		2,212		166
	Essential Properties Realty Trust Inc.		7,245		166
	Sculptor Capital Management Inc. Class A		7,318		166
	Monmouth Real Estate Investment Corp.		11,551		164
	Cowen Inc.		10,673		160
^{*,^}	eXp World Holdings Inc.		16,667		159
	Gladstone Commercial Corp.		7,596		143
	First Foundation Inc.		9,892		143
	Safeguard Scientifics Inc.		15,734		139
	United Community Banks Inc.		5,557		138

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Assetmark Financial Holdings Inc.		5,174		137
*	International Money Express Inc.		14,523		137
	Clipper Realty Inc.		12,065		136
	Hannon Armstrong Sustainable Infrastructure Capital Inc.		3,663		124
	PennyMac Financial Services Inc.		3,502		124
	Stock Yards Bancorp Inc.		3,335		117
	Curo Group Holdings Corp.		12,546		116
*	TriState Capital Holdings Inc.		5,136		102
	Hingham Institution for Savings		538		98
	HarborOne Bancorp Inc.		9,781		98
	Pzena Investment Management Inc.		14,640		96
	Independent Bank Corp.		4,811		94
	Meridian Bancorp Inc.		5,637		93
	Seritage Growth Properties		2,569		88
*	Regional Management Corp.		3,431		88
	HomeTrust Bancshares Inc.		3,657		87
	Silvercrest Asset Management Group Inc.		7,304		84
	Crawford & Co. Class A		11,039		82
	City Holding Co.		1,140		80
*	BRP Group Inc. Class A		4,998		77
	Virtus Investment Partners Inc.		647		71
*	Baycom Corp.		3,185		68
	United Fire Group Inc.		1,700		65
	GAMCO Investors Inc. Class A		4,150		65
	FedNat Holding Co.		4,924		64
^{^}	Pennsylvania REIT		26,559		63
	Greene County Bancorp Inc.		2,315		63
	Cambridge Bancorp		898		62
*	Coastal Financial Corp.		3,657		60
	OceanFirst Financial Corp.		2,887		59
	West Bancorporation Inc.		2,738		56
	American Finance Trust Inc.		5,302		55
*	Oportun Financial Corp.		2,619		55
	Eagle Bancorp Inc.		1,430		54
*	Siebert Financial Corp.		6,248		51
	Heritage Commerce Corp.		4,678		48
*	MBIA Inc.		6,050		47
	First Defiance Financial Corp.		1,944		47
	Investar Holding Corp.		2,163		46
*	Elevate Credit Inc.		13,853		46
*	Esquire Financial Holdings Inc.		1,889		43
	Marlin Business Services Corp.		2,182		43
	Fidelity D&D Bancorp Inc.		859		42
*	ProSight Global Inc.		3,065		41
	Hanmi Financial Corp.		2,600		41
	Central Pacific Financial Corp.		1,660		40
	Global Indemnity Ltd.		1,239		39
	First Financial Corp.		941		38
	Midland States Bancorp Inc.		1,523		36
*	Maui Land & Pineapple Co. Inc.		2,993		33
	Safehold Inc.		602		33
	State Auto Financial Corp.		1,142		29
	Investors Title Co.		173		28
	Waterstone Financial Inc.		1,671		28
	PCSB Financial Corp.		1,511		28
	Heritage Insurance Holdings Inc.		2,339		26
	Century Bancorp Inc.		336		24
*	Malvern Bancorp Inc.		1,243		24
	Alerus Financial Corp.		1,064		22
*	Avalon GloboCare Corp.		14,699		21
	Union Bankshares Inc.		696		21
	People's Utah Bancorp		859		21
	Value Line Inc.		713		21
*	Atlantic Capital Bancshares Inc.		1,096		20

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	FS Bancorp Inc.		379		18
	CNB Financial Corp.		684		17
*	Richmond Mutual Bancorporation Inc.		1,037		14
	Reliant Bancorp Inc.		630		13
	Metrocity Bankshares Inc.		837		12
*	Red River Bancshares Inc.		220		11
	Northeast Bank		630		11
	Southern Missouri Bancorp Inc.		323		11
*	GWG Holdings Inc.		1,128		11
*	Priority Technology Holdings Inc.		5,077		10
	First Capital Inc.		167		10
	Unity Bancorp Inc.		512		9
*	Pioneer Bancorp Inc.		601		8
*	CrossFirst Bankshares Inc.		565		8
	HBT Financial Inc.		483		8
*	Altisource Portfolio Solutions SA		453		7
	Bank7 Corp.		350		6
	Provident Bancorp Inc.		515		6
	Oak Valley Bancorp		309		5
	Griffin Industrial Realty Inc.		116		5
					88,235
Health Care (30.3%)
^{*,^}	Teladoc Health Inc.		59,005		7,373
*	Novocure Ltd.		70,876		5,156
*	Haemonetics Corp.		41,805		4,529
*	Amedisys Inc.		25,623		4,459
*	HealthEquity Inc.		56,642		4,021
*	ACADIA Pharmaceuticals Inc.		91,906		3,928
*	Repligen Corp.		42,656		3,651
*	Tandem Diabetes Care Inc.		45,836		3,422
*	Nevro Corp.		24,406		3,176
*	Iovance Biotherapeutics Inc.		95,887		3,156
*	Wright Medical Group NV		103,197		3,122
*	Global Blood Therapeutics Inc.		47,433		3,034
*	LHC Group Inc.		24,559		2,983
*	Globus Medical Inc.		62,049		2,806
*	NuVasive Inc.		42,401		2,790
*	AMN Healthcare Services Inc.		37,615		2,768
*	Omnicell Inc.		33,919		2,763
*	PTC Therapeutics Inc.		49,112		2,693
*	Arrowhead Pharmaceuticals Inc.		76,150		2,693
*	Acceleron Pharma Inc.		30,457		2,617
*	Neogen Corp.		41,948		2,548
*	Ultragenyx Pharmaceutical Inc.		44,520		2,497
*	FibroGen Inc.		57,348		2,397
*	Blueprint Medicines Corp.		43,719		2,367
*	MyoKardia Inc.		36,310		2,302
*	Halozyme Therapeutics Inc.		116,409		2,278
*	Momenta Pharmaceuticals Inc.		80,398		2,274
*	Quidel Corp.		28,978		2,238
*	NeoGenomics Inc.		77,981		2,209
*	LivaNova plc		31,344		2,185
*	Emergent BioSolutions Inc.		37,089		2,176
*	Select Medical Holdings Corp.		89,712		2,148
	CONMED Corp.		22,161		2,097
*	Immunomedics Inc.		129,622		2,074
*	Tenet Healthcare Corp.		78,615		2,066
*	Medpace Holdings Inc.		22,536		2,027
*	Mirati Therapeutics Inc.		22,252		1,991
*	Amicus Therapeutics Inc.		208,410		1,989
*	Natera Inc.		50,915		1,930
*	Intercept Pharmaceuticals Inc.		20,574		1,892
*	iRhythm Technologies Inc.		21,622		1,880
	Ensign Group Inc.		41,360		1,841

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Insmed Inc.		72,746		1,811
*	Integer Holdings Corp.		19,378		1,747
*	HMS Holdings Corp.		71,812		1,650
*	Axsome Therapeutics Inc.		20,557		1,603
*	Apellis Pharmaceuticals Inc.		45,683		1,582
*	Merit Medical Systems Inc.		43,687		1,573
*	Ironwood Pharmaceuticals Inc.		124,982		1,505
*	Reata Pharmaceuticals Inc.		7,706		1,501
*	ChemoCentryx Inc.		33,178		1,485
*	Arena Pharmaceuticals Inc.		32,982		1,471
*	Pacira BioSciences Inc.		33,817		1,467
*	Invitae Corp.		71,831		1,464
*	Fate Therapeutics Inc.		49,667		1,450
*	Biohaven Pharmaceutical Holding Co. Ltd.		31,779		1,403
*	Glaukos Corp.		31,857		1,401
*	Ra Pharmaceuticals Inc.		28,339		1,325
*	Heron Therapeutics Inc.		68,413		1,276
*	Xencor Inc.		38,571		1,253
*	Kodiak Sciences Inc.		19,179		1,227
*	AtriCure Inc.		31,514		1,211
*	BioTelemetry Inc.		27,109		1,158
*	STAAR Surgical Co.		36,193		1,136
*	REGENXBIO Inc.		27,334		1,093
	US Physical Therapy Inc.		10,232		1,066
	Turning Point Therapeutics Inc.		21,442		1,063
*	Cardiovascular Systems Inc.		28,131		1,058
*	Forty Seven Inc.		17,977		1,043
^{*,^}	Esperion Therapeutics Inc.		20,634		1,042
*	R1 RCM Inc.		84,687		1,040
*	Epizyme Inc.		46,636		999
^{*,^}	Allakos Inc.		15,810		985
*	Corcept Therapeutics Inc.		78,075		985
*	Veracyte Inc.		38,477		950
*	Inspire Medical Systems Inc.		11,039		948
*	Editas Medicine Inc.		42,297		938
*	Principia Biopharma Inc.		13,923		899
^{*,^}	Tabula Rasa HealthCare Inc.		15,955		896
^{*,^}	Aimmune Therapeutics Inc.		37,213		886
*	Theravance Biopharma Inc.		36,237		882
*	NanoString Technologies Inc.		24,734		882
*	Zogenix Inc.		34,843		874
*	Deciphera Pharmaceuticals Inc.		16,090		857
^{*,^}	Allogene Therapeutics Inc.		31,367		847
*	Shockwave Medical Inc.		20,837		836
*	Dicerna Pharmaceuticals Inc.		41,842		826
*	Arvinas Inc.		17,339		817
*	Karyopharm Therapeutics Inc.		48,594		794
*	TG Therapeutics Inc.		62,363		783
*	Denali Therapeutics Inc.		39,335		778
*	Addus HomeCare Corp.		10,158		775
*	CryoLife Inc.		29,966		768
*	Radius Health Inc.		36,398		767
*	Tactile Systems Technology Inc.		15,030		758
*	Natus Medical Inc.		27,953		751
*	CareDx Inc.		31,631		737
*	Supernus Pharmaceuticals Inc.		40,507		729
	Atrion Corp.		1,173		723
*	Enanta Pharmaceuticals Inc.		13,871		706
*	Revance Therapeutics Inc.		30,520		706
*	Innoviva Inc.		52,221		703
*	RadNet Inc.		34,411		703
*	Athenex Inc.		55,877		683
*	Inogen Inc.		14,909		683
*	Alector Inc.		24,768		681

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Portola Pharmaceuticals Inc.		62,042		627
*	Collegium Pharmaceutical Inc.		26,241		623
*	Intersect ENT Inc.		25,838		617
*	Aerie Pharmaceuticals Inc.		34,612		606
*	Magellan Health Inc.		9,985		599
*	Providence Service Corp.		9,550		590
*	NextGen Healthcare Inc.		44,964		588
*	Kadmon Holdings Inc.		126,528		587
*	Sangamo Therapeutics Inc.		68,462		584
*	Cytokinetics Inc.		41,452		578
*	Y-mAbs Therapeutics Inc.		19,126		563
*	Vericel Corp		36,385		562
*	Pennant Group Inc.		20,630		561
*	Tricida Inc.		17,617		560
*	Heska Corp.		5,766		550
*	Twist Bioscience Corp.		17,736		543
*	Adverum Biotechnologies Inc		44,076		543
*	Madrigal Pharmaceuticals Inc.		6,291		542
	National Research Corp.		9,833		541
*	Silk Road Medical Inc.		12,999		518
*	Atara Biotherapeutics Inc.		42,451		516
*	Retrophin Inc.		33,221		515
*	Cerus Corp.		100,128		515
*	Codexis Inc.		43,408		506
*	PetIQ Inc.		16,188		503
*	CorVel Corp.		7,250		500
*	Lantheus Holdings Inc.		31,220		485
*	Vanda Pharmaceuticals Inc.		43,626		481
*	Rocket Pharmaceuticals Inc.		23,935		467
*	Bridgebio Pharma Inc.		14,554		464
*	Eidos Therapeutics Inc.		9,168		464
*	Krystal Biotech Inc.		8,571		458
*	Amphastar Pharmaceuticals Inc.		29,537		455
*	Rhythm Pharmaceuticals Inc.		23,721		453
^{*,^}	Omeros Corp.		37,998		453
	NextCure Inc.		10,814		452
*	Axonics Modulation Technologies Inc.		12,614		447
^{^}	Cortexyme Inc.		8,742		439
*	Flexion Therapeutics Inc.		27,639		436
*	Cara Therapeutics Inc.		28,149		423
*	Intra-Cellular Therapies Inc.		20,050		423
*	UroGen Pharma Ltd.		15,054		410
*	Antares Pharma Inc.		132,010		409
*	Coherus Biosciences Inc.		20,959		406
^{*,^}	ZIOPHARM Oncology Inc.		131,074		405
*	Constellation Pharmaceuticals Inc.		11,272		398
	Phibro Animal Health Corp.		15,734		397
*	Orthofix Medical Inc.		11,209		396
*	Surmodics Inc.		10,716		374
*	Amneal Pharmaceuticals Inc.		95,590		368
*	ANI Pharmaceuticals Inc.		7,455		358
*	Pacific Biosciences of California Inc.		104,183		354
*	Axogen Inc.		27,699		343
*	Eagle Pharmaceuticals Inc.		7,422		341
*	OrthoPediatrics Corp.		7,295		339
^{*,^}	NGM Biopharmaceuticals Inc.		18,751		338
*	Progenics Pharmaceuticals Inc.		71,006		335
*	Kura Oncology Inc.		27,594		333
*	Catalyst Pharmaceuticals Inc.		78,737		331
*	BioDelivery Sciences International Inc.		68,171		331
*	Kindred Biosciences Inc.		30,268		329
^{*,^}	Inovio Pharmaceuticals Inc.		76,418		327
*	Avrobio Inc.		16,842		325
*	Homology Medicines Inc.		20,315		325

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	LeMaitre Vascular Inc.		11,301		322
*	Varex Imaging Corp.		13,219		307
^{*,^}	Clovis Oncology Inc.		40,523		305
*	BioCryst Pharmaceuticals Inc.		101,648		305
*	Intellia Therapeutics Inc.		22,495		300
*	G1 Therapeutics Inc.		16,359		293
*	ImmunoGen Inc.		65,277		290
^{*,^}	Accelerate Diagnostics Inc.		22,268		285
*	Odonate Therapeutics Inc.		9,580		283
*	Cue Biopharma Inc.		16,162		283
*	Pfenex Inc.		24,344		282
*	Cutera Inc.		11,290		280
*	BioSpecifics Technologies Corp.		4,999		276
^{*,^}	TherapeuticsMD Inc.		159,900		270
*	Puma Biotechnology Inc.		25,111		270
*	Avid Bioservices Inc.		42,417		267
*	Rigel Pharmaceuticals Inc.		124,195		263
*	Karuna Therapeutics Inc.		2,925		255
^{^}	Livongo Health Inc.		10,187		255
*	AnaptysBio Inc.		16,969		254
*	SI-BONE Inc.		13,135		254
*	Quanterix Corp.		10,962		250
*	Phathom Pharmaceuticals Inc.		6,867		248
*	Gossamer Bio Inc.		18,849		248
*	CytomX Therapeutics Inc.		36,787		246
^{*,^}	Dynavax Technologies Corp.		60,498		239
*	Spectrum Pharmaceuticals Inc.		82,730		237
*	Syneos Health Inc.		3,703		235
^{*,^}	Rubius Therapeutics Inc.		28,014		234
*	Precision BioSciences Inc.		29,055		233
*	Corbus Pharmaceuticals Holdings Inc.		48,483		230
*	Recro Pharma Inc.		15,872		228
*	SIGA Technologies Inc.		45,424		227
*	MeiraGTx Holdings plc		13,987		227
*	Stemline Therapeutics Inc.		37,451		225
^{*,^}	CEL-SCI Corp.		20,263		222
*	Agenus Inc.		87,376		221
^{*,^}	Sorrento Therapeutics Inc.		100,863		219
*	Bioxcel Therapeutics Inc.		5,762		216
^{^}	Vir Biotechnology Inc.		4,622		215
*	Voyager Therapeutics Inc.		19,702		215
	SpringWorks Therapeutics Inc.		6,666		213
	Phreesia Inc.		6,857		213
*	Translate Bio Inc.		28,015		212
	Utah Medical Products Inc.		2,415		211
*	Accuray Inc.		70,961		210
*	Albireo Pharma Inc.		8,964		210
*	Ligand Pharmaceuticals Inc.		2,219		208
*	Kiniksa Pharmaceuticals Ltd.		10,833		200
*	Scholar Rock Holding Corp.		13,889		196
^{*,^}	MannKind Corp.		153,074		194
*	HealthStream Inc.		7,983		194
*	Fluidigm Corp.		57,453		191
*	Crinetics Pharmaceuticals Inc.		9,026		186
*	XBiotech Inc.		15,145		186
*	Eiger BioPharmaceuticals Inc		19,153		182
*	Magenta Therapeutics Inc.		15,369		181
*	Akcea Therapeutics Inc.		10,156		172
	Health Catalyst Inc.		5,609		170
	Applied Therapeutics Inc.		4,088		170
*	Zynex Inc.		12,937		168
*	Syros Pharmaceuticals Inc.		28,417		166
*	Alphatec Holdings Inc.		28,323		166
*	ViewRay Inc.		57,653		165

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
^{*,^}	Ocular Therapeutix Inc.		34,790		164
	IGM Biosciences Inc.		3,168		163
*	MacroGenics Inc.		18,242		160
*	Joint Corp.		10,653		158
*	Syndax Pharmaceuticals Inc.		16,767		158
*	Beyondspring Inc.		9,879		157
*	GenMark Diagnostics Inc.		44,485		155
*	CytoSorbents Corp.		25,708		155
*	TransMedics Group Inc.		9,871		155
^{*,^}	Viela Bio Inc.		3,493		152
*	Molecular Templates Inc.		9,184		148
*	Replimune Group Inc.		10,504		146
*	Minerva Neurosciences Inc.		19,834		144
	Stoke Therapeutics Inc.		5,802		144
*	Aprea Therapeutics Inc.		4,124		141
*	MediciNova Inc.		33,627		141
*	Aduro Biotech Inc.		45,558		139
*	KalVista Pharmaceuticals Inc.		10,248		138
^{*,^}	Senseonics Holdings Inc.		96,347		135
^{*,^}	Paratek Pharmaceuticals Inc.		27,019		129
*	VBI Vaccines Inc.		107,459		129
^{*,^}	Evolus Inc.		14,956		128
	Oyster Point Pharma Inc.		3,601		128
*	Anavex Life Sciences Corp.		33,177		126
*	Athersys Inc.		105,049		126
*	Rockwell Medical Inc.		44,760		126
*	Evolent Health Inc.		13,554		125
*	Optinose Inc.		20,365		123
^{*,^}	WaVe Life Sciences Ltd.		14,515		123
*	Myriad Genetics Inc.		6,900		122
*	ChromaDex Corp.		32,895		121
*	Chiasma Inc.		26,954		120
*	La Jolla Pharmaceutical Co.		17,383		118
*	Pieris Pharmaceuticals Inc.		37,942		118
*	Affimed NV		49,500		117
*	Cellular Biomedicine Group Inc.		7,287		116
	Progyny Inc.		4,205		116
*	Sientra Inc.		27,052		113
*	Genesis Healthcare Inc.		68,549		113
^{^}	Novavax Inc.		7,037		113
*	Hanger Inc.		4,835		112
*	MEI Pharma Inc.		57,253		111
*	Marinus Pharmaceuticals Inc.		43,529		109
^{^}	CorMedix Inc.		20,880		109
*	Vapotherm Inc.		12,484		108
*	ADMA Biologics Inc.		35,873		105
	X4 Pharmaceuticals Inc.		9,379		100
*	GlycoMimetics Inc.		27,666		100
*	IntriCon Corp.		6,707		100
*	Atreca Inc.		4,156		98
*	UNITY Biotechnology Inc.		15,876		95
*	Palatin Technologies Inc.		184,767		94
*	Cymabay Therapeutics Inc.		56,326		94
*	Lexicon Pharmaceuticals Inc.		32,741		91
*	Seres Therapeutics Inc.		28,862		91
^{*,^}	Catasys Inc.		5,987		91
*	OptimizeRx Corp.		10,799		90
*	Misonix Inc.		6,491		90
*	iRadimed Corp.		3,773		90
*	Apollo Medical Holdings Inc.		4,935		86
*	BioLife Solutions Inc.		5,726		81
	Satsuma Pharmaceuticals Inc.		2,836		81
*	Frequency Therapeutics Inc.		3,683		80
*	Hookipa Pharma Inc.		7,693		76

Vanguard^® Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
^{*,^}	Zynerba Pharmaceuticals Inc.		17,913		76
*	Castlight Health Inc.		83,647		76
*	Cyclerion Therapeutics Inc.		17,366		74
*	Xeris Pharmaceuticals Inc.		20,646		74
	Castle Biosciences Inc.		2,347		70
*	Savara Inc.		30,040		69
*	Protagonist Therapeutics Inc.		8,795		69
*	89bio Inc.		1,880		67
*	CASI Pharmaceuticals Inc.		37,808		67
^{*,^}	Galectin Therapeutics Inc.		31,512		67
*	Akero Therapeutics Inc.		3,045		66
*	Pulse Biosciences Inc.		9,249		63
*	Mustang Bio Inc.		21,557		63
*	Cabaletta Bio Inc.		4,174		62
*	Evofem Biosciences Inc.		10,411		61
*	Prevail Therapeutics Inc.		4,730		60
^{*,^}	Precigen Inc.		15,676		59
*	Cerecor Inc.		18,544		57
*	Millendo Therapeutics Inc.		7,277		56
*	Fulcrum Therapeutics Inc.		2,926		55
^{*,^}	Kaleido Biosciences Inc.		9,220		55
*	Eloxx Pharmaceuticals Inc.		17,480		55
^{*,^}	Tyme Technologies Inc.		45,724		54
*	Endo International plc		9,518		53
	Morphic Holding Inc.		3,318		52
*	LogicBio Therapeutics Inc.		6,467		52
^{*,^}	Marker Therapeutics Inc.		20,986		52
*	Personalis Inc.		5,660		49
*	Verrica Pharmaceuticals Inc.		4,144		49
^{*,^}	BioSig Technologies Inc.		13,362		48
*	American Renal Associates Holdings Inc.		5,969		48
*	Aldeyra Therapeutics Inc.		12,547		48
^{*,^}	Kala Pharmaceuticals Inc.		8,714		47
*	Calyxt Inc.		7,214		46
*	PhaseBio Pharmaceuticals Inc.		10,723		45
^{*,^}	Baudax Bio Inc.		6,348		44
^{*,^}	Soliton Inc.		4,201		44
*	Liquidia Technologies Inc.		10,448		43
	Option Care Health Inc.		2,865		42
*	Conformis Inc.		54,010		42
*	EyePoint Pharmaceuticals Inc.		31,392		41
*	Celcuity Inc.		4,660		40
*	Gritstone Oncology Inc.		4,625		39
*	Cross Country Healthcare Inc.		4,074		39
	Exagen Inc.		2,150		37
*	Calithera Biosciences Inc.		5,573		36
*	Oncocyte Corp.		16,641		36
*	Harpoon Therapeutics Inc.		2,248		35
*	Organogenesis Holdings Inc. Class A		8,761		34
*	Surgery Partners Inc.		2,074		34
	Mirum Pharmaceuticals Inc.		1,959		32
*	Assembly Biosciences Inc.		1,769		32
*	Checkpoint Therapeutics Inc.		17,862		31
*	Viking Therapeutics Inc.		4,973		29
*	Neuronetics Inc.		10,158		29
*	AcelRx Pharmaceuticals Inc.		20,122		27
*	Tocagen Inc.		16,430		23
	Axcella Health Inc.		6,080		23
*	Meridian Bioscience Inc.		2,762		22
*	Apyx Medical Corp.		3,335		20
	RAPT Therapeutics Inc.		999		20
*	Aeglea BioTherapeutics Inc.		2,821		19
*	AgeX Therapeutics Inc.		16,463		19
^*,§	Alder BioPharmaceuticals CVR Exp. 12/31/2024		20,196		18

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Centogene NV	1,228	16
*	Sutro Biopharma Inc.	1,588	15
*	Enochian Biosciences Inc.	4,151	14
*	Acer Therapeutics Inc.	3,899	13
*	Akorn Inc.	10,113	12
*	Galera Therapeutics Inc.	665	11
*	Evelo Biosciences Inc.	2,075	11
*	TCR2 Therapeutics Inc.	850	10
	TransEnterix Inc.	7,613	9
*	Solid Biosciences Inc.	2,692	9
	Passage Bio Inc.	354	8
	Tela Bio Inc.	457	7
*	Spero Therapeutics Inc.	372	4
*	Kezar Life Sciences Inc.	656	3
^{*,^,§}	Oncternal Therapeutics Inc. CVR	530	1
^§	Synergy Pharmaceuticals Inc.	124,654	1
			241,495
Materials & Processing (6.6%)
*	Trex Co. Inc.	47,958	4,587
*	RBC Bearings Inc.	19,783	3,387
	Cabot Microelectronics Corp.	23,652	3,294
	Simpson Manufacturing Co. Inc.	36,539	2,902
	Balchem Corp.	26,295	2,484
	Universal Forest Products Inc.	43,169	2,023
*	Builders FirstSource Inc.	86,747	1,970
	AAON Inc.	33,586	1,848
	PolyOne Corp.	69,513	1,721
	Quaker Chemical Corp.	10,681	1,683
*	Ingevity Corp.	34,407	1,550
	Compass Minerals International Inc.	27,754	1,514
	Innospec Inc.	17,166	1,486
	Advanced Drainage Systems Inc.	35,363	1,480
*	Masonite International Corp.	18,962	1,394
	Comfort Systems USA Inc.	29,678	1,253
*	Installed Building Products Inc.	18,418	1,217
	HB Fuller Co.	30,839	1,210
*	Novagold Resources Inc.	131,913	1,053
*	JELD-WEN Holding Inc.	49,089	923
	Sensient Technologies Corp.	18,188	895
*	GCP Applied Technologies Inc.	44,174	860
	Mueller Water Products Inc.	76,329	836
	Mueller Industries Inc.	24,919	697
	Patrick Industries Inc.	12,511	661
	Neenah Inc.	11,339	655
*	Ferro Corp.	54,419	632
	Kaiser Aluminum Corp.	6,674	631
	Apogee Enterprises Inc.	18,254	551
	Chase Corp.	6,039	536
	Orion Engineered Carbons SA	33,279	473
	Myers Industries Inc.	28,992	393
	Louisiana-Pacific Corp.	13,228	376
*	OMNOVA Solutions Inc.	35,738	361
*	US Concrete Inc.	13,078	351
*	PGT Innovations Inc.	22,620	343
*	Summit Materials Inc.	16,815	329
*	GMS Inc.	14,330	327
*	Beacon Roofing Supply Inc.	10,423	310
	Materion Corp.	6,761	307
	Boise Cascade Co.	7,474	265
	Rexnord Corp.	9,022	263
*	AK Steel Holding Corp.	112,166	259
	Tronox Holdings plc Class A	34,303	252
*	Koppers Holdings Inc.	10,950	239
	Worthington Industries Inc.	7,048	224

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Forterra Inc.	15,173	205
	Cleveland-Cliffs Inc.	32,686	190
	Omega Flex Inc.	2,367	185
	Stepan Co.	1,815	159
*	Lawson Products Inc.	3,409	136
*	Ryerson Holding Corp.	12,552	105
*	Uranium Energy Corp.	145,737	88
*	Foundation Building Materials Inc.	4,772	74
*	Kraton Corp.	7,244	73
*	MRC Global Inc.	5,679	49
*	Marrone Bio Innovations Inc.	42,628	48
*	Verso Corp.	2,027	33
*	UFP Technologies Inc.	537	27
^{*,^}	Amyris Inc.	6,225	20
	United States Lime & Minerals Inc.	130	11
*	LB Foster Co.	499	8
	Valhi Inc.	1,376	2
			52,418
Other (0.0%)¹
	PPD Inc.	4,428	123
*	Reynolds Consumer Products Inc.	3,325	96
*	Arcutis Biotherapeutics Inc.	1,324	35
	Schrodinger Inc.	562	26
^{*,^,§}	Tobira Therapeutics CVR Exp. 12/31/2028	3,989	18
*	Sprout Social Inc. Class A	880	17
*	REVOLUTION Medicines Inc.	393	12
	Beam Therapeutics Inc.	489	11
^*,§	A Schulman Inc. CVR	19,599	9
*	1Life Healthcare Inc.	333	7
*	Black Diamond Therapeutics Inc.	217	6
*	Bill.Com Holdings Inc.	95	5
^{*,^}	Casper Sleep Inc.	498	5
^*,§	Corium CVR	17,631	3
^*,§	Omthera Pharmeceuticals Rights	2,001	1
^*,§	NewStar Financial Inc. CVR	2,203	1
^*,§	Clinical Data CVR	367	—
			375
Producer Durables (15.5%)
*	Generac Holdings Inc.	49,956	5,145
*	Axon Enterprise Inc.	47,620	3,684
	Tetra Tech Inc.	44,508	3,599
	MSA Safety Inc.	28,811	3,505
	MAXIMUS Inc.	51,972	3,275
	Brink's Co.	40,747	3,190
	Exponent Inc.	42,204	3,108
*	TopBuild Corp.	27,298	2,757
	EMCOR Group Inc.	34,055	2,620
	John Bean Technologies Corp.	25,391	2,459
*	MasTec Inc.	48,955	2,403
*	Itron Inc.	28,024	2,125
*	Aerojet Rocketdyne Holdings Inc.	41,990	2,069
	Insperity Inc.	30,687	2,064
*	ExlService Holdings Inc.	27,404	2,046
*	Proto Labs Inc.	22,049	1,932
*	TriNet Group Inc.	36,536	1,931
*	Advanced Disposal Services Inc.	56,201	1,858
*	Advanced Energy Industries Inc.	31,199	1,856
*	ASGN Inc.	36,575	1,855
	Applied Industrial Technologies Inc.	31,340	1,849
	Franklin Electric Co. Inc.	35,706	1,846
*	Casella Waste Systems Inc.	37,426	1,813
	ESCO Technologies Inc.	19,623	1,784
	Moog Inc.	22,772	1,756
*	Chart Industries Inc.	29,464	1,677

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Healthcare Services Group Inc.	60,653	1,670
	Herman Miller Inc.	48,041	1,645
	Korn Ferry	46,163	1,615
	Albany International Corp.	25,053	1,605
	Brady Corp. Class A	31,999	1,515
	Allegiant Travel Co.	10,634	1,441
*	Atkore International Group Inc.	38,259	1,412
	Badger Meter Inc.	23,398	1,409
*	Welbilt Inc.	106,147	1,403
	EnerSys	22,700	1,398
	Forward Air Corp.	23,052	1,360
	Federal Signal Corp.	46,040	1,335
	Covanta Holding Corp.	96,429	1,288
*	Spirit Airlines Inc.	43,860	1,248
*	SPX Corp.	28,928	1,213
*	Kratos Defense & Security Solutions Inc.	73,306	1,192
	Watts Water Technologies Inc.	12,686	1,191
*	OSI Systems Inc.	13,834	1,124
*	Saia Inc.	12,631	1,103
	Tennant Co.	14,768	1,057
	Helios Technologies Inc.	24,218	963
	McGrath RentCorp	13,427	933
	HNI Corp.	27,609	906
*	AeroVironment Inc.	17,371	893
	Terex Corp.	39,826	877
^{*,^}	Plug Power Inc.	200,241	869
	Raven Industries Inc.	29,796	855
*	Air Transport Services Group Inc.	47,677	853
	US Ecology Inc.	19,807	833
	Kadant Inc.	8,973	815
	CSW Industrials Inc.	12,118	798
	Douglas Dynamics Inc.	18,244	794
	Hillenbrand Inc.	33,724	789
	Mesa Laboratories Inc.	3,273	783
	Alamo Group Inc.	6,927	767
*	FARO Technologies Inc.	13,342	764
*	Harsco Corp.	63,661	763
	ICF International Inc.	9,280	705
	Otter Tail Corp.	14,215	691
	Knoll Inc.	37,705	665
*	Vicor Corp.	14,560	630
*	Dycom Industries Inc.	19,904	588
	Kforce Inc.	16,586	505
	H&E Equipment Services Inc.	20,102	478
	Primoris Services Corp.	24,679	468
	Mobile Mini Inc.	11,956	466
*	Enerpac Tool Group Corp. Class A	21,756	465
*	NV5 Global Inc.	8,457	453
	TTEC Holdings Inc.	11,687	437
	Argan Inc.	10,409	434
*	Great Lakes Dredge & Dock Corp.	44,349	430
*	CryoPort Inc.	25,725	430
	Kimball International Inc.	25,132	407
*	Astronics Corp.	18,833	382
	Columbus McKinnon Corp.	11,518	358
	Barrett Business Services Inc.	5,857	351
*	MYR Group Inc.	13,216	337
	Luxfer Holdings plc	20,436	317
*	Forrester Research Inc.	8,712	314
*	FTI Consulting Inc.	2,762	311
	Lindsay Corp.	3,108	308
*	Energy Recovery Inc.	30,336	299
	Spartan Motors Inc.	19,938	294
	Hackett Group Inc.	18,153	280

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Steelcase Inc.	17,194	279
*	Willdan Group Inc.	8,213	253
	Barnes Group Inc.	4,627	249
	AZZ Inc.	6,543	241
	Pitney Bowes Inc.	70,043	240
*	Heritage-Crystal Clean Inc.	8,708	229
	Allied Motion Technologies Inc.	5,787	223
	Cubic Corp.	4,007	218
	MTS Systems Corp.	4,909	197
*	Napco Security Technologies Inc.	9,451	192
	Triumph Group Inc.	10,046	191
	Kaman Corp.	3,223	179
*	Vishay Precision Group Inc.	6,409	176
*	Transcat Inc.	5,637	163
	Systemax Inc.	7,523	157
*	Radiant Logistics Inc.	31,994	141
*	Huron Consulting Group Inc.	2,259	134
*	Thermon Group Holdings Inc.	7,392	130
*	Target Hospitality Corp.	27,342	128
	GasLog Ltd.	21,879	123
	Granite Construction Inc.	5,726	116
*	Blue Bird Corp.	6,093	109
	Advanced Emissions Solutions Inc.	12,120	108
	Universal Logistics Holdings Inc.	6,637	102
	Gorman-Rupp Co.	3,008	96
	Resources Connection Inc.	7,584	95
*	Construction Partners Inc. Class A	5,463	93
	EnPro Industries Inc.	1,544	83
*	EVI Industries Inc.	3,763	83
	CRA International Inc.	1,686	78
*	IES Holdings Inc.	3,357	78
	Deluxe Corp.	2,130	71
*	Sterling Construction Co. Inc.	4,881	67
*	Ducommun Inc.	1,431	64
*	PRGX Global Inc.	16,381	59
	BG Staffing Inc.	3,762	58
*	Herc Holdings Inc.	1,378	51
*	Dorian LPG Ltd.	4,345	48
^{*,^}	Wrap Technologies Inc.	7,184	42
*	PAM Transportation Services Inc.	1,064	42
*	Mesa Air Group Inc.	7,114	41
*	Mayville Engineering Co. Inc.	4,884	36
	Heidrick & Struggles International Inc.	1,563	35
	Heartland Express Inc.	1,759	32
*	American Superconductor Corp.	4,408	30
^{*,^}	Energous Corp.	21,561	30
*	General Finance Corp.	3,782	30
	REV Group Inc.	3,490	27
	Ardmore Shipping Corp.	4,887	27
	Scorpio Bulkers Inc.	7,706	25
	Miller Industries Inc.	619	18
*	Mistras Group Inc.	1,984	16
	VSE Corp.	508	15
*	Gencor Industries Inc.	1,121	11
*	CECO Environmental Corp.	1,545	10
*	Willis Lease Finance Corp.	138	8
	Graham Corp.	458	8
*	Exela Technologies Inc.	29,513	8
			123,281
Technology (16.3%)
	Science Applications International Corp.	47,306	3,791
*	Five9 Inc.	48,798	3,564
	j2 Global Inc.	38,019	3,320
*	Mercury Systems Inc.	44,260	3,251

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Silicon Laboratories Inc.	35,057	3,109
*	Envestnet Inc.	39,384	2,973
*	Everbridge Inc.	27,204	2,874
*	Verint Systems Inc.	51,290	2,815
*	Inphi Corp.	36,677	2,738
	Blackbaud Inc.	39,855	2,702
*	Q2 Holdings Inc.	35,669	2,688
*	ACI Worldwide Inc.	94,005	2,620
*	Viavi Solutions Inc.	187,929	2,479
*	Novanta Inc.	27,524	2,455
*	Blackline Inc.	35,343	2,211
*	Qualys Inc.	27,513	2,206
*	Acacia Communications Inc.	30,888	2,116
	Power Integrations Inc.	23,174	2,017
*	Box Inc.	117,195	1,963
*	Semtech Corp.	49,420	1,952
*	Varonis Systems Inc.	24,258	1,946
*	Cornerstone OnDemand Inc.	46,500	1,908
*	Rapid7 Inc.	40,421	1,871
*	Lattice Semiconductor Corp.	102,888	1,847
*	SailPoint Technologies Holding Inc.	70,089	1,775
*	Rogers Corp.	15,118	1,754
*	Yelp Inc.	56,050	1,753
	Brooks Automation Inc.	50,309	1,736
*	Verra Mobility Corp. Class A	104,342	1,580
*	Appfolio Inc.	12,847	1,580
*	Bottomline Technologies DE Inc.	35,409	1,568
*	Cargurus Inc.	61,037	1,556
*	Fabrinet	27,373	1,509
*	SPS Commerce Inc.	28,578	1,503
*	Alarm.com Holdings Inc.	29,919	1,444
*	II-VI Inc.	46,929	1,393
*	CommVault Systems Inc.	33,307	1,389
	Progress Software Corp.	36,334	1,355
	InterDigital Inc.	25,510	1,349
*	LivePerson Inc.	50,742	1,343
*	SVMK Inc.	70,666	1,288
*	Workiva Inc.	29,972	1,281
*	PROS Holdings Inc.	26,863	1,230
^{*,^}	Appian Corp. Class A	27,754	1,225
	CSG Systems International Inc.	26,893	1,190
*	Yext Inc.	77,315	1,172
*	Inovalon Holdings Inc.	59,296	1,155
*	Altair Engineering Inc.	32,771	1,140
*	ForeScout Technologies Inc.	34,490	1,122
^{*,^}	iRobot Corp.	22,588	1,084
*	Perficient Inc.	25,984	1,065
*	Virtusa Corp.	23,391	1,032
	NIC Inc.	53,475	978
*	Zuora Inc. Class A	72,447	959
*	MicroStrategy Inc.	6,742	911
*	MaxLinear Inc.	53,938	834
*	Model N Inc.	26,773	776
*	Tenable Holdings Inc.	30,632	751
*	Upland Software Inc.	18,907	736
*	ePlus Inc.	9,604	728
*	Bandwidth Inc. Class A	10,975	690
*	Glu Mobile Inc.	94,738	675
*	Vocera Communications Inc.	25,574	624
*	Parsons Corp.	15,843	619
*	Ambarella Inc.	10,405	619
*	Insight Enterprises Inc.	10,493	578
*	Agilysys Inc.	16,884	542
	Ebix Inc.	19,040	503

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Blucora Inc.	28,764	500
*	Groupon Inc.	370,020	496
*	Extreme Networks Inc.	97,998	493
*	CEVA Inc.	16,359	465
*	nLight Inc.	27,101	447
*	Unisys Corp.	28,660	445
*	Telaria Inc.	36,367	444
*	TechTarget Inc.	18,858	436
*	Eventbrite Inc. Class A	29,838	436
^{*,^}	GTT Communications Inc.	27,689	419
*	Impinj Inc.	13,552	417
*	Anterix Inc.	8,788	412
*	Upwork Inc.	46,378	402
*	Tucows Inc.	7,719	394
*	Digital Turbine Inc.	64,056	393
	Plantronics Inc.	27,724	381
*	Diodes Inc.	8,038	354
*	Zix Corp.	43,628	344
*	Sanmina Corp.	12,902	339
*	Loral Space & Communications Inc.	10,479	325
*	MobileIron Inc.	79,826	323
	Simulations Plus Inc.	9,748	317
*	OneSpan Inc.	19,145	316
*	Rubicon Project Inc.	26,984	306
*	Benefitfocus Inc.	24,273	303
*	Domo Inc.	14,300	302
*	EverQuote Inc. Class A	7,188	292
*	VirnetX Holding Corp.	50,122	281
*	Onto Innovation Inc.	9,146	280
*	A10 Networks Inc.	39,710	266
*	Mitek Systems Inc.	30,069	262
*	PAR Technology Corp.	9,448	250
*	Brightcove Inc.	31,302	244
*	ShotSpotter Inc.	6,646	237
	QAD Inc.	4,809	236
	NVE Corp.	3,636	230
*	Adesto Technologies Corp.	18,548	227
*	Diebold Nixdorf Inc.	32,357	227
	American Software Inc.	13,468	222
*	Endurance International Group Holdings Inc.	58,936	220
*	Ping Identity Holding Corp.	9,244	214
*	Plexus Corp.	3,186	211
*	PlayAGS Inc.	21,736	211
*	ChannelAdvisor Corp.	21,802	208
*	Intelligent Systems Corp.	5,595	205
	Perspecta Inc.	8,171	204
*	Ooma Inc.	15,876	204
*	TrueCar Inc.	72,598	191
*	Limelight Networks Inc.	37,100	187
*	Meet Group Inc.	35,674	182
*	Digimarc Corp.	9,046	181
*	Calix Inc.	19,735	178
*	Avid Technology Inc.	23,141	171
*	Iteris Inc.	33,571	162
^{*,^}	Akoustis Technologies Inc.	20,555	149
	Xperi Corp.	8,112	139
*	eGain Corp.	16,835	136
*	Ichor Holdings Ltd.	4,052	117
*	Cloudera Inc.	12,664	113
*	Clearfield Inc.	9,324	100
*	FormFactor Inc.	4,373	98
*	SharpSpring Inc.	8,060	92
*	DSP Group Inc.	6,533	89
*	Telenav Inc.	14,003	84

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Rimini Street Inc.	17,066	79
*	Casa Systems Inc.	22,256	73
	AstroNova Inc.	5,798	63
*	Airgain Inc.	7,166	57
*	DASAN Zhone Solutions Inc.	5,840	45
*	Majesco	6,128	41
*	Travelzoo	4,352	36
*	PDF Solutions Inc.	1,931	28
*	Leaf Group Ltd.	10,457	28
*	Phunware Inc.	25,666	26
*	Sonim Technologies Inc.	8,091	23
^{*,^}	Coda Octopus Group Inc.	3,585	23
*	Kimball Electronics Inc.	1,203	16
*	Cambium Networks Corp.	2,309	14
^{*,^}	Ideanomics Inc.	36,869	13
*	SecureWorks Corp.	729	10
*	KVH Industries Inc.	737	8
			129,602
Utilities (2.6%)
	Cogent Communications Holdings Inc.	34,668	2,531
	American States Water Co.	29,939	2,293
	California Water Service Group	37,034	1,776
	Shenandoah Telecommunications Co.	39,172	1,740
*	8x8 Inc.	76,428	1,414
*	Evoqua Water Technologies Corp.	60,982	1,279
*	Vonage Holdings Corp.	126,358	1,132
	Chesapeake Utilities Corp.	13,161	1,125
	TerraForm Power Inc.	46,483	874
	SJW Group	13,932	852
	Ormat Technologies Inc.	11,507	802
	MGE Energy Inc.	10,304	735
	Middlesex Water Co.	11,457	681
*	Boingo Wireless Inc.	35,631	452
	York Water Co.	9,498	402
	El Paso Electric Co.	5,598	380
	Southwest Gas Holdings Inc.	4,964	321
	South Jersey Industries Inc.	10,505	284
	Northwest Natural Holding Co.	3,626	239
*	Pure Cycle Corp.	13,992	173
	New Jersey Resources Corp.	4,820	170
^{*,^}	Gogo Inc.	44,875	162
*	ORBCOMM Inc.	46,860	155
*	Atlantic Power Corp.	55,236	125
	Global Water Resources Inc.	9,496	114
	Spark Energy Inc.	9,718	83
*	IDT Corp.	9,531	73
*	AquaVenture Holdings Ltd.	1,777	48
	Genie Energy Ltd. Class B	4,441	31
^{*,^}	Pareteum Corp.	49,537	28
			20,474
Total Common Stocks (Cost $732,607)			795,573

Vanguard^®Russell 2000 Growth Index Fund

Schedule of Investments

February 29, 2020

				Market
				Value
		Coupon	Shares	($000)
Temporary Cash Investments (2.3%)
Money Market Fund (2.3%)
2,3	Vanguard Market Liquidity Fund	1.706%	181,490	18,154

				Face
			Maturity	Amount
			Date	($000)
U.S. Government and Agency Obligations (0.0%)
4	United States Treasury Bill	1.543%	4/16/20	93	93
Total Temporary Cash Investments (Cost $18,241)					18,247
Total Investments (102.2%) (Cost $750,848)					813,820
Other Assets and Liabilities—Net (-2.2%)³					(17,193)
Net Assets (100%)					796,627

Cost rounded to $000.
*	Non-income-producing security.
^	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $17,456,000.
§	Security value determined using significant unobservable inputs.
1	“Other” represents securities that are not classified by the fund's benchmark index.
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 $19,170,000 was received for securities on loan, of which $17,809,000 is held in Vanguard Market Liquidity Fund and $1,361,000 is held in cash.
4	Securities with a value of $57,000 have been segregated as initial margin for open futures contracts.
	CVR—Contingent Value Rights.
	REIT—Real Estate Investment Trust.

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	© 2020 The Vanguard Group, Inc.
	All rights reserved.
	Vanguard Marketing Corporation, Distributor.

	SNA18512 042020

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

			Market
			Value
		Shares		($000)
Common Stocks (99.3%)
Consumer Discretionary (14.5%)
*	Amazon.com Inc.	19,357		36,464
	Home Depot Inc.	51,566		11,233
	Walt Disney Co.	81,676		9,609
	Comcast Corp.	210,673		8,518
*	Netflix Inc.	19,713		7,275
	Walmart Inc.	65,773		7,082
	McDonald's Corp.	35,297		6,854
	Costco Wholesale Corp.	20,555		5,779
	NIKE Inc.	57,743		5,161
*	Tesla Inc.	6,739		4,502
	Starbucks Corp.	55,307		4,338
	Lowe's Cos. Inc.	36,194		3,857
*	Charter Communications Inc.	7,182		3,542
	TJX Cos. Inc.	56,811		3,397
*	Booking Holdings Inc.	1,949		3,305
	Target Corp.	23,302		2,400
	Estee Lauder Cos. Inc. Class A	10,196		1,872
	Dollar General Corp.	12,091		1,817
	Ross Stores Inc.	16,474		1,792
	General Motors Co.	57,787		1,762
	Marriott International Inc.	12,749		1,581
*	Uber Technologies Inc.	44,415		1,504
*	O'Reilly Automotive Inc.	3,474		1,281
	Ford Motor Co.	183,084		1,274
	Yum! Brands Inc.	14,159		1,264
	Hilton Worldwide Holdings Inc.	12,917		1,256
	eBay Inc.	35,934		1,245
*	Lululemon Athletica Inc.	5,491		1,194
*	AutoZone Inc.	1,106		1,142
	VF Corp.	14,387		1,036
	Aptiv plc	12,031		940
	Las Vegas Sands Corp.	15,955		930
*	Chipotle Mexican Grill Inc.	1,196		925
*	Dollar Tree Inc.	11,054		918
	DR Horton Inc.	15,694		836
	Best Buy Co. Inc.	10,555		798
	Lennar Corp. Class A	12,924		780
*	Spotify Technology SA	5,524		757
	Tiffany & Co.	5,660		756
	Yum China Holdings Inc.	16,952		742
	Omnicom Group Inc.	10,080		698
*	Ulta Beauty Inc.	2,635		677
*	CarMax Inc.	7,688		671
*	Burlington Stores Inc.	3,054		660
	Domino's Pizza Inc.	1,912		649
	Royal Caribbean Cruises Ltd.	8,028		646
	Expedia Group Inc.	6,460		637
	ViacomCBS Inc. Class B	25,485		627
	Carnival Corp.	18,628		623
*	Liberty Broadband Corp. Class C	4,931		621
	Garmin Ltd.	6,784		600
	Genuine Parts Co.	6,579		574
	MGM Resorts International	23,325		573
	Darden Restaurants Inc.	5,755		561
*	NVR Inc.	151		554
*	Trade Desk Inc.	1,835		527
	Fox Corp. Class A	17,097		526
	Wynn Resorts Ltd.	4,565		493
	Tractor Supply Co.	5,555		492
	PulteGroup Inc.	11,747		472
	Hasbro Inc.	5,905		456

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
*	Roku Inc.		3,987		453
*	LKQ Corp.		14,408		426
*	Bright Horizons Family Solutions Inc.		2,692		423
	Advance Auto Parts Inc.`		3,100		412
*	DISH Network Corp.		12,172		408
	Sirius XM Holdings Inc.		63,934		405
	Fortune Brands Home & Security Inc.		6,516		402
	Vail Resorts Inc.		1,877		399
	Service Corp. International		8,308		397
	Aramark		11,414		397
*	Discovery Communications Inc.		15,694		394
	Interpublic Group of Cos. Inc.		18,026		385
*	Liberty Media Corp-Liberty Formula One Class C		9,843		384
	Pool Corp.		1,795		379
	Whirlpool Corp.		2,904		371
*	Norwegian Cruise Line Holdings Ltd.		9,923		370
*	Live Nation Entertainment Inc.		6,023		366
*	Altice USA Inc.		14,115		365
*	Caesars Entertainment Corp.		26,901		342
*	Lyft Inc. Class A		8,900		339
*	Mohawk Industries Inc.		2,753		334
	Cable One Inc.		206		324
*	WABCO Holdings Inc.		2,384		322
*	Liberty Media Corp-Liberty SiriusXM Class C		7,199		321
*	Etsy Inc.		5,503		318
	Lear Corp.		2,856		318
	Gentex Corp.		11,884		317
	BorgWarner Inc.		9,653		305
	Tapestry Inc.		12,896		302
	Nielsen Holdings plc		16,564		302
	Kohl's Corp.		7,419		290
	New York Times Co.		7,627		286
	Newell Brands Inc.		17,704		273
*	IAA Inc.		6,225		266
*	Planet Fitness Inc.		3,836		259
	Dunkin' Brands Group Inc.		3,871		257
	PVH Corp.		3,440		255
	Rollins Inc.		6,660		249
*	Five Below Inc.		2,564		249
	Leggett & Platt Inc.		6,155		244
	Nexstar Media Group Inc.		2,107		242
	Ralph Lauren Corp.		2,291		242
	L Brands Inc.		10,728		232
*	Madison Square Garden Co.		862		231
*	ServiceMaster Global Holdings Inc.		6,424		230
	Williams-Sonoma Inc.		3,678		229
*	Deckers Outdoor Corp.		1,303		226
	News Corp. Class A		18,587		224
	Toll Brothers Inc.		6,043		224
	Hanesbrands Inc.		16,897		224
	Polaris Inc.		2,704		223
	Wyndham Hotels & Resorts Inc.		4,374		223
	Harley-Davidson Inc.		7,150		218
*	Chegg Inc.		5,538		217
	Fox Corp. Class B		6,923		211
	Churchill Downs Inc.		1,643		206
*	Skechers U.S.A. Inc.		6,181		204
	Brunswick Corp.		3,779		201
	H&R Block Inc.		9,412		195
	Macy's Inc.		14,521		192
*	Mattel Inc.		16,181		191
*	SiteOne Landscape Supply Inc.		1,922		191
*	Discovery Inc.		7,399		190
	Thor Industries Inc.		2,495		188

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
	Marriott Vacations Worldwide Corp.		1,925		186
*	Wayfair Inc.		2,935		186
	Carter's Inc.		2,025		185
*	Grand Canyon Education Inc.		2,235		180
	Foot Locker Inc.		4,968		180
*	Liberty Media Corp-Liberty SiriusXM Class A		3,982		178
	Nordstrom Inc.		5,089		177
*	Carvana Co.		2,117		176
	Texas Roadhouse Inc.		3,091		174
*	Capri Holdings Ltd.		6,702		173
*	frontdoor Inc.		4,002		170
	Wyndham Destinations Inc.		4,176		167
	Wendy's Co.		8,727		165
*	Floor & Decor Holdings Inc. Class A		3,179		162
	Cracker Barrel Old Country Store Inc.		1,117		160
*	Tempur Sealy International Inc.		2,120		158
*	Eldorado Resorts Inc.		3,091		155
*	Penn National Gaming Inc.		5,199		154
	Strategic Education Inc.		998		147
	Gap Inc.		10,203		146
	TEGNA Inc.		10,187		146
	Choice Hotels International Inc.		1,564		143
*	Liberty Broadband Corp. Class A		1,154		143
*	RH		775		141
*	Taylor Morrison Home Corp.		6,137		138
*	Murphy USA Inc.		1,358		132
	AMERCO		409		132
	KB Home		4,021		131
	Cinemark Holdings Inc.		5,024		130
	Hyatt Hotels Corp.		1,691		130
	Steven Madden Ltd.		3,945		129
*	Ollie's Bargain Outlet Holdings Inc.		2,476		126
	Coty Inc.		13,641		126
*	National Vision Holdings Inc.		3,611		126
	Aaron's Inc.		3,152		124
	Lithia Motors Inc. Class A		1,036		123
*	Qurate Retail Group Inc. QVC Group Class A		18,081		123
*	Under Armour Inc. Class C		9,844		123
	TripAdvisor Inc.		4,961		116
	Wingstop Inc.		1,376		116
	KAR Auction Services Inc.		5,979		115
*	Under Armour Inc. Class A		8,045		114
	Columbia Sportswear Co.		1,383		112
*	Fox Factory Holding Corp.		1,745		111
	LCI Industries		1,145		111
	Dick's Sporting Goods Inc.		2,971		108
*	AutoNation Inc.		2,531		108
*	Cimpress plc		929		108
*	Hilton Grand Vacations Inc.		4,050		108
*	Meritage Homes Corp.		1,698		108
*	Stamps.com Inc.		752		106
	Goodyear Tire & Rubber Co.		10,912		106
*	Laureate Education Inc.		5,483		103
*	BJ's Wholesale Club Holdings Inc.		5,234		101
	Boyd Gaming Corp.		3,744		100
	Graham Holdings Co.		197		99
*	Adient plc		4,129		99
*	TRI Pointe Group Inc.		6,422		98
	Wolverine World Wide Inc.		3,702		97
	World Wrestling Entertainment Inc.		2,074		97
	Dana Inc.		6,627		95
	American Eagle Outfitters Inc.		7,353		95
	Six Flags Entertainment Corp.		3,737		94
	Extended Stay America Inc.		8,502		93

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
	MDC Holdings Inc.		2,337		92
*	Avis Budget Group Inc.		2,680		87
	Monro Inc.		1,533		86
*	Visteon Corp.		1,310		85
*	Cavco Industries Inc.		420		85
*	Crocs Inc.		3,209		84
	Jack in the Box Inc.		1,215		84
*	Gray Television Inc.		4,313		82
*	Liberty Latin America Ltd.		5,369		82
*	Shake Shack Inc.		1,357		81
*	Meritor Inc.		3,494		79
*	Asbury Automotive Group Inc.		887		79
*	Instructure Inc.		1,606		78
*	Adtalem Global Education Inc.		2,497		77
	John Wiley & Sons Inc.		2,068		77
*	Dorman Products Inc.		1,264		77
*	Urban Outfitters Inc.		3,248		76
*	YETI Holdings Inc.		2,455		74
	Penske Automotive Group Inc.		1,608		74
	Winnebago Industries Inc.		1,426		74
	Bloomin' Brands Inc.		4,097		74
	Callaway Golf Co.		4,316		73
*	LGI Homes Inc.		945		71
*	Sally Beauty Holdings Inc.		5,599		70
	Group 1 Automotive Inc.		815		69
	Cheesecake Factory Inc.		1,949		69
	Kontoor Brands Inc.		2,041		69
*	Fitbit Inc.		10,555		67
	Sinclair Broadcast Group Inc.		2,888		67
*	American Woodmark Corp.		797		67
	Red Rock Resorts Inc.		3,208		66
*	WW International Inc.		2,200		66
	News Corp. Class B		5,083		63
	Bed Bath & Beyond Inc.		5,760		62
*	Gentherm Inc.		1,522		62
*	AMC Networks Inc.		1,990		62
*	2U Inc.		2,617		62
	Office Depot Inc.		25,989		61
	Cooper Tire & Rubber Co.		2,373		60
	Dine Brands Global Inc.		728		60
	Papa John's International Inc.		1,032		59
*	Hertz Global Holdings Inc.		4,633		59
	PriceSmart Inc.		1,059		59
	Brinker International Inc.		1,716		59
*	Sleep Number Corp.		1,336		59
	La-Z-Boy Inc.		2,048		59
*	Skyline Champion Corp.		2,300		59
*	SeaWorld Entertainment Inc.		2,153		59
	Signet Jewelers Ltd.		2,485		58
*	Cardlytics Inc.		686		54
*	Central Garden & Pet Co. Class A		2,118		54
	Meredith Corp.		1,899		50
	Rent-A-Center Inc.		2,326		50
*	Perdoceo Education Corp.		3,313		49
	Inter Parfums Inc.		807		48
	International Game Technology plc		4,529		48
	Core-Mark Holding Co. Inc.		2,094		48
	Dave & Buster's Entertainment Inc.		1,438		47
	Viad Corp.		944		47
*	Scientific Games Corp.		2,575		47
*	M/I Homes Inc.		1,248		46
*	Denny's Corp.		2,663		46
	Oxford Industries Inc.		766		46
*	Liberty Media Corp-Liberty Braves Class C		1,780		46

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
*	Stitch Fix Inc. Class A		1,917		46
*	G-III Apparel Group Ltd.		2,053		46
	Standard Motor Products Inc.		989		44
	Matthews International Corp.		1,447		43
	Scholastic Corp.		1,330		43
*	WillScot Corp.		2,401		42
	Children's Place Inc.		722		42
*	Century Communities Inc.		1,228		41
*	Malibu Boats Inc.		922		41
	Designer Brands Inc. Class A		2,991		40
*	Lions Gate Entertainment Corp. Class B		5,423		40
	Acushnet Holdings Corp.		1,568		40
*	Boot Barn Holdings Inc.		1,286		39
*	Sonos Inc.		3,270		38
	Abercrombie & Fitch Co.		2,862		38
	Interface Inc.		2,572		38
*	IMAX Corp.		2,337		36
	Sturm Ruger & Co. Inc.		736		35
*	K12 Inc.		1,749		35
*	Shutterstock Inc.		899		35
	Guess? Inc.		2,104		34
*	American Axle & Manufacturing Holdings Inc.		5,267		33
	Lennar Corp.		679		32
*	Liberty Latin America Ltd. Class A		2,116		32
	Buckle Inc.		1,379		31
*	America's Car-Mart Inc.		300		31
*	Quotient Technology Inc.		3,433		31
	Sonic Automotive Inc.		1,092		31
	EW Scripps Co.		2,528		30
	BJ's Restaurants Inc.		877		29
	Big Lots Inc.		1,767		28
*	Cars.com Inc.		3,051		28
*	Stoneridge Inc.		1,247		28
*	Houghton Mifflin Harcourt Co.		4,943		27
*	Universal Electronics Inc.		633		27
*	American Outdoor Brands Corp.		2,661		27
	Marcus Corp.		986		26
*	QuinStreet Inc.		2,022		26
	Dillard's Inc. Class A		456		26
	OneSpaWorld Holdings Ltd.		2,075		25
*	MSG Networks Inc.		1,966		25
	Ruth's Hospitality Group Inc.		1,298		25
*	Monarch Casino & Resort Inc.		510		24
*	Zumiez Inc.		870		23
*	Gannett Co. Inc.		5,491		23
*	Genesco Inc.		656		23
	Tenneco Inc.		2,412		22
	Winmark Corp.		110		22
*	GoPro Inc.		5,781		22
	National CineMedia Inc.		2,831		22
*	1-800-Flowers.com Inc.		1,174		21
*	elf Beauty Inc.		1,317		21
	Caleres Inc.		1,806		21
	Camping World Holdings Inc.		1,468		20
	Chico's FAS Inc.		4,986		20
*	Liberty Media Corp-Liberty Formula One Class A		533		20
	Twin River Worldwide Holdings Inc.		751		20
*	Vista Outdoor Inc.		2,619		19
	Entercom Communications Corp. Class A		5,480		19
	National Presto Industries Inc.		241		19
*	Lions Gate Entertainment Corp. Class A		2,255		18
	Cato Corp. Class A		1,098		18
*	Central European Media Enterprises Ltd.		3,967		18
*	Beazer Homes USA Inc.		1,425		17

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
*	Michaels Cos. Inc.		4,037		17
	Carriage Services Inc. Class A		812		17
*	Chuy's Holdings Inc.		762		16
*	Hudson Ltd. Class A		1,743		16
^	AMC Entertainment Holdings Inc.		2,586		16
*	Rosetta Stone Inc.		913		16
*	Red Robin Gourmet Burgers Inc.		573		16
^	GameStop Corp. Class A		4,332		16
*	Liberty TripAdvisor Holdings Inc.		3,517		15
*	Hibbett Sports Inc.		780		15
*	American Public Education Inc.		672		15
*	MarineMax Inc.		874		15
*	Motorcar Parts of America Inc.		855		14
	Haverty Furniture Cos. Inc.		843		14
*	MasterCraft Boat Holdings Inc.		868		14
	Ethan Allen Interiors Inc.		1,055		14
	Shoe Carnival Inc.		462		14
*	Green Brick Partners Inc.		1,257		14
*	Golden Entertainment Inc.		831		14
*	Regis Corp.		1,046		13
	Johnson Outdoors Inc.		212		13
*	Lindblad Expeditions Holdings Inc.		1,104		13
*	Lumber Liquidators Holdings Inc.		1,340		13
*	Franklin Covey Co.		415		13
*	Habit Restaurants Inc.		928		13
*	Cooper-Standard Holdings Inc.		747		13
*	El Pollo Loco Holdings Inc.		986		13
*	Daily Journal Corp.		46		11
*	RealReal Inc.		807		11
*	Liberty Media Corp-Liberty Braves Class A		433		11
	Clarus Corp.		969		11
*	Sportsman's Warehouse Holdings Inc.		1,801		11
*	At Home Group Inc.		2,136		11
*	Express Inc.		2,792		10
	Movado Group Inc.		690		10
*	Hemisphere Media Group Inc.		795		10
*	Century Casinos Inc.		1,431		10
*	JC Penney Co. Inc.		14,408		10
	Hooker Furniture Corp.		521		10
*	Fossil Group Inc.		2,115		10
*	Noodles & Co.		1,193		10
*	Fiesta Restaurant Group Inc.		999		10
*	Central Garden & Pet Co.		340		9
*	Del Taco Restaurants Inc.		1,417		9
	Citi Trends Inc.		455		9
*	Drive Shack Inc.		3,139		9
	Tribune Publishing Co.		780		9
	RCI Hospitality Holdings Inc.		442		9
*	Cumulus Media Inc. Class A		724		9
*	WideOpenWest Inc.		1,379		9
*	Boston Omaha Corp.		444		9
*	ZAGG Inc.		1,275		9
*	Vera Bradley Inc.		1,033		9
*	Funko Inc.		1,047		8
	Nathan's Famous Inc.		141		8
*	Select Interior Concepts Inc. Class A		1,072		8
*	Overstock.com Inc.		1,236		8
	Collectors Universe Inc.		344		8
*	Conn's Inc.		963		8
*,^	Eros International plc		3,379		8
	Tilly's Inc.		1,153		7
^	Tailored Brands Inc.		2,267		7
	Emerald Holding Inc.		1,078		7
	Rocky Brands Inc.		296		7

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
*	Barnes & Noble Education Inc.		2,104		7
	Tupperware Brands Corp.		2,357		7
*	MDC Partners Inc.		2,668		7
*	Purple Innovation Inc. Class A		486		7
*	Carrols Restaurant Group Inc.		1,595		7
	Superior Group of Cos. Inc.		523		6
	Entravision Communications Corp. Class A		3,094		6
*,^	Revlon Inc.		358		6
*	Reading International Inc.		738		6
*	Potbelly Corp.		1,204		6
	Weyco Group Inc.		274		6
*	Delta Apparel Inc.		302		6
*	Lands' End Inc.		541		6
	Escalade Inc.		638		5
	Saga Communications Inc.		172		5
	Bassett Furniture Industries Inc.		497		5
*	J Alexander's Holdings Inc.		582		5
*	Lee Enterprises Inc.		3,143		5
*	Party City Holdco Inc.		2,350		5
	Flexsteel Industries Inc.		338		5
*	Clear Channel Outdoor Holdings Inc.		2,225		5
	ViacomCBS Inc. Class A		153		5
*	Marchex Inc.		1,711		4
*	Gaia Inc.		465		4
*	Biglari Holdings Inc.		37		4
*	Fluent Inc.		1,630		4
*	Legacy Housing Corp.		255		4
*	Lovesac Co.		402		3
*	Container Store Group Inc.		911		3
	Lifetime Brands Inc.		528		3
	Hamilton Beach Brands Holding Co.		282		3
	Kura Sushi USA Inc. Class A		174		3
*	Duluth Holdings Inc.		427		3
*	Red Lion Hotels Corp.		1,114		3
	Bluegreen Vacations Corp.		351		3
*	Inspired Entertainment Inc.		515		3
*	Centric Brands Inc.		1,257		3
*	Vince Holding Corp.		231		2
*	LiveXLive Media Inc.		1,466		2
	Ascena Retail Group Inc.		393		1
*	Youngevity International Inc.		676		1
	J. Jill Inc.		702		1
*	RTW RetailWinds Inc.		1,790		1
					198,272
Consumer Staples (5.7%)
	Procter & Gamble Co.		115,741		13,105
	Coca-Cola Co.		179,504		9,602
	PepsiCo Inc.		65,604		8,662
	Philip Morris International Inc.		72,661		5,949
	CVS Health Corp.		60,685		3,591
	Altria Group Inc.		87,491		3,532
	Mondelez International Inc.		66,352		3,503
	Colgate-Palmolive Co.		39,280		2,654
	Kimberly-Clark Corp.		15,948		2,092
	Walgreens Boots Alliance Inc.		35,222		1,612
	Sysco Corp.		22,294		1,486
	General Mills Inc.		27,882		1,366
	Constellation Brands Inc. Class A		7,408		1,277
	McKesson Corp.		8,441		1,181
*	Monster Beverage Corp.		17,874		1,116
	Kroger Co.		37,211		1,047
	Archer-Daniels-Midland Co.		25,945		977
	Hershey Co.		6,753		972
	Corteva Inc.		35,177		957

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
	Clorox Co.		5,882		938
	Tyson Foods Inc.		13,476		914
	McCormick & Co. Inc.		5,742		839
	Church & Dwight Co. Inc.		11,503		800
	Kraft Heinz Co.		29,193		723
	Kellogg Co.		11,526		697
	Conagra Brands Inc.		22,560		602
	Lamb Weston Holdings Inc.		6,819		592
	Hormel Foods Corp.		12,992		540
	JM Smucker Co.		5,129		528
	Brown-Forman Corp.		8,128		499
	Molson Coors Beverage Co. Class B		8,176		406
	Campbell Soup Co.		7,796		352
*	US Foods Holding Corp.		10,239		344
*	Post Holdings Inc.		3,041		308
	Bunge Ltd.		6,417		301
	Casey's General Stores Inc.		1,720		280
*	Keurig Dr Pepper Inc.		9,524		266
	Ingredion Inc.		3,134		261
*	Performance Food Group Co.		4,820		204
*	Beyond Meat Inc.		2,220		199
	Flowers Foods Inc.		9,103		196
*	Helen of Troy Ltd.		1,176		194
*	Herbalife Nutrition Ltd.		4,648		150
*	Boston Beer Co. Inc. Class A		392		145
	Energizer Holdings Inc.		2,983		128
	Lancaster Colony Corp.		880		127
	Brown-Forman Corp. Class A		2,016		118
	J&J Snack Foods Corp.		707		114
	Sanderson Farms Inc.		918		113
	WD-40 Co.		644		111
*	Freshpet Inc.		1,632		108
	Spectrum Brands Holdings Inc.		1,979		107
*	TreeHouse Foods Inc.		2,627		100
*	Hain Celestial Group Inc.		3,919		93
*	Sprouts Farmers Market Inc.		5,599		89
*	Simply Good Foods Co.		3,830		84
*	Edgewell Personal Care Co.		2,530		77
*	Hostess Brands Inc.		5,660		72
	Grocery Outlet Holding Corp.		2,084		66
	Nu Skin Enterprises Inc.		2,606		64
	Vector Group Ltd.		5,299		62
	Universal Corp.		1,138		56
	Calavo Growers Inc.		756		55
*	Pilgrim's Pride Corp.		2,461		52
	Cal-Maine Foods Inc.		1,442		50
	B&G Foods Inc.		3,034		45
	Coca-Cola Consolidated Inc.		221		43
	Medifast Inc.		502		42
	Seaboard Corp.		12		41
	Fresh Del Monte Produce Inc.		1,453		40
*	USANA Health Sciences Inc.		600		40
*	BellRing Brands Inc. Class A		1,826		36
	Rite Aid Corp.		2,439		33
*	Chefs' Warehouse Inc.		1,073		33
	John B Sanfilippo & Son Inc.		395		28
	Andersons Inc.		1,392		26
	Ingles Markets Inc.		679		24
	Tootsie Roll Industries Inc.		750		24
*	National Beverage Corp.		566		24
	PetMed Express Inc.		823		22
	SpartanNash Co.		1,612		20
	MGP Ingredients Inc.		616		18
	Weis Markets Inc.		433		16

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
*	United Natural Foods Inc.		2,355		15
*	Primo Water Corp.		1,064		15
	Limoneira Co.		661		11
	Turning Point Brands Inc.		373		10
*	Seneca Foods Corp.		280		10
*	Craft Brew Alliance Inc.		493		8
*	Celsius Holdings Inc.		1,305		8
	Village Super Market Inc.		353		7
*	GNC Holdings Inc.		3,872		7
*	Farmer Brothers Co.		505		6
*	Lifevantage Corp.		521		6
*	New Age Beverages Corp.		2,986		6
	Alico Inc.		182		6
*	HF Foods Group Inc.		321		6
*	22nd Century Group Inc.		5,198		4
	Natural Grocers by Vitamin Cottage Inc.		516		4
*	Nature's Sunshine Products Inc.		392		3
*	Bridgford Foods Corp.		96		2
*	Pyxus International Inc.		383		1
*	cbdMD Inc.		790		1
					78,496
Energy (3.3%)
	Exxon Mobil Corp.		198,113		10,191
	Chevron Corp.		89,187		8,325
	ConocoPhillips		51,360		2,487
	Schlumberger Ltd.		64,680		1,752
	Kinder Morgan Inc.		91,340		1,751
	EOG Resources Inc.		27,030		1,710
	Phillips 66		21,044		1,575
	Marathon Petroleum Corp.		30,163		1,430
	Occidental Petroleum Corp.		41,936		1,373
	ONEOK Inc.		19,239		1,284
	Valero Energy Corp.		19,234		1,274
	Williams Cos. Inc.		56,749		1,081
	Pioneer Natural Resources Co.		7,718		948
	Hess Corp.		12,579		707
	Halliburton Co.		40,743		691
	Concho Resources Inc.		9,312		633
*	Cheniere Energy Inc.		10,805		554
	Baker Hughes Co.		30,516		491
	Diamondback Energy Inc.		7,493		465
	Apache Corp.		17,554		437
	Noble Energy Inc.		22,150		351
	Targa Resources Corp.		10,682		346
	National Oilwell Varco Inc.		18,073		338
	Marathon Oil Corp.		37,430		310
	Devon Energy Corp.		17,939		291
	Cabot Oil & Gas Corp.		18,813		262
	HollyFrontier Corp.		6,995		236
*	Enphase Energy Inc.		4,341		213
	Parsley Energy Inc.		14,087		189
	Helmerich & Payne Inc.		5,023		185
*	WPX Energy Inc.		19,405		181
*	First Solar Inc.		3,883		178
	Valvoline Inc.		8,841		172
	Cimarex Energy Co.		4,707		156
	Murphy Oil Corp.		7,003		132
	PBF Energy Inc.		5,619		126
*	Sunrun Inc.		5,210		101
	Arcosa Inc.		2,298		99
*	Transocean Ltd.		26,812		90
*	PDC Energy Inc.		4,580		87
	World Fuel Services Corp.		3,030		86
	Continental Resources Inc.		4,004		76

Vanguard^® Russell 3000 Index Fund
Schedule of Investments
February 29, 2020

				Market
				Value
		Shares		($000)
	Delek US Holdings Inc.		3,423		73
	EQT Corp.		12,026		71
	Equitrans Midstream Corp.		9,586		68
*	Apergy Corp.		3,590		67
	Cactus Inc.		2,236		61
*	Dril-Quip Inc.		1,709		61
	Golar LNG Ltd.		4,391		56
	Kosmos Energy Ltd.		17,082		52
	Patterson-UTI Energy Inc.		9,041		52
	Antero Midstream Corp.		11,797		51
*	Matador Resources Co.		5,219		50
*	Oceaneering International Inc.		4,759		50
*	CNX Resources Corp.		8,803		47
*	NOW Inc.		4,995		44
*	Renewable Energy Group Inc.		1,662		44
	Archrock Inc.		6,215		44
*	Helix Energy Solutions Group Inc.		6,493		44
	Warrior Met Coal Inc.		2,358		42
*	Callon Petroleum Co.		18,006		41
	CVR Energy Inc.		1,369		39
*	Southwestern Energy Co.		25,953		37
	Arch Coal Inc.		730		37
*	NexTier Oilfield Solutions Inc.		7,571		35
*	Magnolia Oil & Gas Corp. Class A		4,630		35
	SM Energy Co.		5,166		34
*	ProPetro Holding Corp.		3,550		31
*	TPI Composites Inc.		1,280		30
	Range Resources Corp.		10,494		29
	Nabors Industries Ltd.		15,773		28
*	Par Pacific Holdings Inc.		1,583		26
	QEP Resources Inc.		10,993		25
*	Bloom Energy Corp. Class A		2,676		24
*	SunPower Corp.		2,814		24
*	Oasis Petroleum Inc.		14,248		23
	DMC Global Inc.		627		23
*	Oil States International Inc.		2,811		22
*	Ameresco Inc.		982		22
*	Centennial Resource Development Inc.		8,960		21
*	Vivint Solar Inc.		1,838		21
*	Antero Resources Corp.		11,875		19
*	Frank's International NV		4,841		19
	Green Plains Inc.		1,580		19
*	Northern Oil and Gas Inc.		13,050		19
	Berry Corp.		2,941		19
*	Select Energy Services Inc.		2,683		17
*	Chesapeake Energy Corp.		61,747		17
*	REX American Resources Corp.		239		17
	Peabody Energy Corp.		2,864		17
*	Denbury Resources Inc.		21,591		16
	Liberty Oilfield Services Inc.		2,414		16
	SunCoke Energy Inc.		3,396		16
	Solaris Oilfield Infrastructure Inc.		1,418		15
*	Newpark Resources Inc.		4,225		15
*,^	California Resources Corp.		2,305		15
*	Matrix Service Co.		1,179		14
*	Clean Energy Fuels Corp.		6,243		14
*	Bonanza Creek Energy Inc.		855		14
*	Talos Energy Inc.		965		14
	Brigham Minerals Inc. Class A		773		12
*	W&T Offshore Inc.		4,405		11
	Sunnova Energy International Inc.		619		11
*	National Energy Services Reunited Corp.		1,148		10
*	Diamond Offshore Drilling Inc.		3,104		9
*	Penn Virginia Corp.		575		9

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Laredo Petroleum Inc.		8,416		9
	RPC Inc.		2,494		9
*	SEACOR Marine Holdings Inc.		1,002		8
*	Noble Corp. plc		11,307		8
*	TETRA Technologies Inc.		6,286		8
*,^	Tellurian Inc.		4,378		8
	NACCO Industries Inc.		190		8
*	Exterran Corp.		1,475		7
*	Whiting Petroleum Corp.		3,958		7
*	Geospace Technologies Corp.		584		7
	Falcon Minerals Corp.		1,756		7
*	Era Group Inc.		715		7
*	CONSOL Energy Inc.		1,183		7
	Evolution Petroleum Corp.		1,382		6
*	Gulfport Energy Corp.		7,558		6
	Panhandle Oil and Gas Inc.		769		5
*	Contura Energy Inc.		892		5
*	Comstock Resources Inc.		667		4
*	Altus Midstream Co. Class A		2,733		4
*	Ring Energy Inc.		2,825		4
*	Covia Holdings Corp.		2,528		4
*	Flotek Industries Inc.		2,424		4
*	Earthstone Energy Inc.		958		4
*	PrimeEnergy Resources Corp.		28		4
*	Seadrill Ltd.		3,015		3
*	Nine Energy Service Inc.		764		3
*	HighPoint Resources Corp.		4,191		3
*	Extraction Oil & Gas Inc.		3,888		3
*	Montage Resources Corp.		721		2
*	Forum Energy Technologies Inc.		3,213		2
*	RigNet Inc.		688		2
*	Goodrich Petroleum Corp.		444		2
*	Pacific Drilling SA		1,431		2
	Amplify Energy Corp.		531		2
*	KLX Energy Services Holdings Inc.		912		2
*	Smart Sand Inc.		1,083		2
	Hallador Energy Co.		1,330		2
*	Unit Corp.		4,856		2
*	Abraxas Petroleum Corp.		7,765		1
*	FTS International Inc.		1,514		1
*	SilverBow Resources Inc.		323		1
					45,507
Financial Services (20.4%)
*	Berkshire Hathaway Inc. Class B		91,641		18,909
	JPMorgan Chase & Co.		145,975		16,949
	Visa Inc.		80,169		14,572
	Mastercard Inc.		41,485		12,041
	Bank of America Corp.		381,095		10,861
	Wells Fargo & Co.		178,266		7,282
	Citigroup Inc.		101,988		6,472
*	PayPal Holdings Inc.		54,994		5,939
	American Tower Corp.		20,545		4,660
	Fidelity National Information Services Inc.		28,549		3,989
	American Express Co.		31,359		3,447
	CME Group Inc.		16,573		3,295
	US Bancorp		66,832		3,104
	Chubb Ltd.		21,103		3,061
	S&P Global Inc.		11,500		3,058
	Goldman Sachs Group Inc.		14,879		2,987
	Prologis Inc.		34,301		2,891
	Truist Financial Corp.		62,613		2,889
*	Fiserv Inc.		26,313		2,878
	Crown Castle International Corp.		19,412		2,782
	PNC Financial Services Group Inc.		20,480		2,589

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	BlackRock Inc.		5,539		2,565
	Global Payments Inc.		13,923		2,561
	Marsh & McLennan Cos. Inc.		23,742		2,482
	Morgan Stanley		54,340		2,447
	Intercontinental Exchange Inc.		25,722		2,295
	Equinix Inc.		3,979		2,279
	Aon plc		10,916		2,271
	Charles Schwab Corp.		53,686		2,188
	Progressive Corp.		27,244		1,993
	Capital One Financial Corp.		21,783		1,923
	Moody’s Corp.		7,689		1,846
	Simon Property Group Inc.		14,425		1,775
	American International Group Inc.		40,737		1,717
	Allstate Corp.		15,042		1,583
	MetLife Inc.		36,390		1,555
	Bank of New York Mellon Corp.		38,432		1,533
	Aflac Inc.		34,019		1,458
	Public Storage		6,933		1,450
	Travelers Cos. Inc.		12,071		1,446
	Prudential Financial Inc.		19,010		1,434
	Welltower Inc.		18,866		1,412
	SBA Communications Corp.		5,244		1,390
*	Square Inc.		16,051		1,338
	AvalonBay Communities Inc.		6,537		1,311
	Equity Residential		17,228		1,294
	T. Rowe Price Group Inc.		10,638		1,255
	Digital Realty Trust Inc.		9,711		1,166
	State Street Corp.		16,962		1,155
	Willis Towers Watson plc		6,028		1,141
	MSCI Inc.		3,849		1,137
	Realty Income Corp.		15,240		1,103
*	FleetCor Technologies Inc.		3,991		1,061
	Discover Financial Services		14,636		960
	Ventas Inc.		17,405		936
	Boston Properties Inc.		7,232		932
	Weyerhaeuser Co.		34,847		905
	Synchrony Financial		29,922		871
	Essex Property Trust Inc.		3,059		867
*	CBRE Group Inc.		15,377		863
	M&T Bank Corp.		6,067		852
	Hartford Financial Services Group Inc.		16,792		839
	Arthur J Gallagher & Co.		8,594		838
	Ameriprise Financial Inc.		5,923		837
	Alexandria Real Estate Equities Inc.		5,311		807
	Fifth Third Bancorp		32,941		804
	Northern Trust Corp.		9,118		800
	Equifax Inc.		5,628		799
	First Republic Bank		7,781		783
	TransUnion		8,758		779
*	Markel Corp.		635		750
	KeyCorp		44,797		732
	Healthpeak Properties Inc.		22,969		727
*	Arch Capital Group Ltd.		17,937		725
	Invitation Homes Inc.		25,018		718
	Mid-America Apartment Communities Inc.		5,312		687
	Cincinnati Financial Corp.		7,127		665
	Sun Communities Inc.		4,235		647
	Citizens Financial Group Inc.		20,171		639
	WP Carey Inc.		8,010		620
	UDR Inc.		13,537		609
	Regions Financial Corp.		44,709		604
	Annaly Capital Management Inc.		66,935		593
	Cboe Global Markets Inc.		5,183		591
	Huntington Bancshares Inc.		48,002		589

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Extra Space Storage Inc.		5,864		589
	Principal Financial Group Inc.		12,919		573
	MarketAxess Holdings Inc.		1,721		558
	Broadridge Financial Solutions Inc.		5,323		555
	Equity LifeStyle Properties Inc.		8,097		553
	Nasdaq Inc.		5,365		550
	Loews Corp.		12,025		549
	Duke Realty Corp.		16,770		545
	Jack Henry & Associates Inc.		3,581		543
	VICI Properties Inc.		21,521		539
	TD Ameritrade Holding Corp.		12,493		528
	Medical Properties Trust Inc.		23,885		505
*	Fair Isaac Corp.		1,329		500
*	SVB Financial Group		2,363		492
	Raymond James Financial Inc.		5,824		487
	E*TRADE Financial Corp.		10,573		484
	Host Hotels & Resorts Inc.		33,218		481
	Fidelity National Financial Inc.		12,311		477
	Brown & Brown Inc.		11,004		473
	FactSet Research Systems Inc.		1,754		467
	Globe Life Inc.		4,982		462
	Everest Re Group Ltd.		1,851		459
	WR Berkley Corp.		6,715		451
	Camden Property Trust		4,234		449
	Ally Financial Inc.		17,811		447
	Regency Centers Corp.		7,746		445
	Western Union Co.		19,554		438
	VEREIT Inc.		49,773		431
	AGNC Investment Corp.		25,198		429
	Vornado Realty Trust		7,977		427
*	Alleghany Corp.		634		426
	Lincoln National Corp.		9,356		425
*	Equitable Holdings Inc.		19,398		415
	Iron Mountain Inc.		13,369		407
	Gaming and Leisure Properties Inc.		9,101		407
	National Retail Properties Inc.		7,983		406
	Federal Realty Investment Trust		3,476		404
	Omega Healthcare Investors Inc.		10,120		401
*	WEX Inc.		2,011		377
	Reinsurance Group of America Inc.		2,916		356
	Jones Lang LaSalle Inc.		2,396		354
	Comerica Inc.		6,706		353
	Kilroy Realty Corp.		4,848		352
	RenaissanceRe Holdings Ltd.		2,041		348
	Assurant Inc.		2,836		342
	Voya Financial Inc.		6,305		332
	Lamar Advertising Co.		3,953		331
	Apartment Investment & Management Co.		6,911		331
	Kimco Realty Corp.		18,887		328
	STORE Capital Corp.		9,957		327
	SEI Investments Co.		5,942		325
*	Zillow Group Inc. Class C		5,740		320
	American Financial Group Inc.		3,445		318
	CyrusOne Inc.		5,220		316
	Zions Bancorp NA		7,835		313
	American Homes 4 Rent		12,017		311
	Signature Bank		2,476		310
	New Residential Investment Corp.		19,313		301
	LPL Financial Holdings Inc.		3,761		299
	Healthcare Trust of America Inc.		9,583		298
	Douglas Emmett Inc.		7,756		296
	SL Green Realty Corp.		3,726		292
	First American Financial Corp.		5,094		291
	Commerce Bancshares Inc.		4,733		289

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
*	Euronet Worldwide Inc.		2,329		289
	People’s United Financial Inc.		20,553		288
	Starwood Property Trust Inc.		12,708		282
	Franklin Resources Inc.		12,932		281
	American Campus Communities Inc.		6,410		278
*	Athene Holding Ltd. Class A		6,725		277
	Americold Realty Trust		8,975		275
	Prosperity Bancshares Inc.		4,233		273
	CubeSmart		8,990		272
	East West Bancorp Inc.		6,777		263
	Old Republic International Corp.		13,169		260
	TCF Financial Corp.		7,057		257
	Invesco Ltd.		17,786		256
	Brixmor Property Group Inc.		13,841		252
	Jefferies Financial Group Inc.		12,482		246
	Cousins Properties Inc.		6,781		242
	Rexford Industrial Realty Inc.		5,137		240
	Life Storage Inc.		2,173		234
	New York Community Bancorp Inc.		21,214		229
	First Industrial Realty Trust Inc.		5,848		225
	Unum Group		9,639		225
	EastGroup Properties Inc.		1,759		221
	Axis Capital Holdings Ltd.		3,883		218
	Hanover Insurance Group Inc.		1,838		218
	Hudson Pacific Properties Inc.		6,719		217
	Highwoods Properties Inc.		4,790		215
	Popular Inc.		4,467		214
	Primerica Inc.		1,920		214
	Eaton Vance Corp.		5,129		212
	Healthcare Realty Trust Inc.		6,141		211
	Spirit Realty Capital Inc.		4,605		210
	Cullen/Frost Bankers Inc.		2,654		208
	JBG SMITH Properties		5,671		208
	EPR Properties		3,500		207
	Blackstone Mortgage Trust Inc.		5,743		207
	SLM Corp.		19,701		204
	Western Alliance Bancorp		4,435		204
	Kemper Corp.		2,965		204
	Park Hotels & Resorts Inc.		11,151		204
	Legg Mason Inc.		4,055		202
*	Howard Hughes Corp.		1,862		201
	Radian Group Inc.		9,417		200
*	Credit Acceptance Corp.		489		197
	Essent Group Ltd.		4,501		196
	MGIC Investment Corp.		16,181		195
	First Horizon National Corp.		14,316		191
	Synovus Financial Corp.		6,531		190
	Pinnacle Financial Partners Inc.		3,509		185
	CoreSite Realty Corp.		1,749		181
*	Brighthouse Financial Inc.		5,053		181
	Interactive Brokers Group Inc.		3,510		179
	Assured Guaranty Ltd.		4,357		178
	Equity Commonwealth		5,635		177
	Outfront Media Inc.		6,723		177
	CIT Group Inc.		4,453		177
	Sabra Health Care REIT Inc.		9,025		176
	First Financial Bankshares Inc.		6,101		175
	PacWest Bancorp		5,530		175
	STAG Industrial Inc.		6,163		172
	Two Harbors Investment Corp.		12,721		172
	Affiliated Managers Group Inc.		2,289		172
	Chimera Investment Corp.		8,683		171
	Lazard Ltd.		4,750		170
	Terreno Realty Corp.		3,082		169

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Stifel Financial Corp.		3,094		168
	CoreLogic Inc.		3,705		168
	Valley National Bancorp		17,873		166
	Erie Indemnity Co.		1,160		166
	Webster Financial Corp.		4,307		164
	Alliance Data Systems Corp.		1,898		163
	National Health Investors Inc.		1,987		162
	Rayonier Inc.		6,111		162
	Umpqua Holdings Corp.		10,338		159
	Janus Henderson Group plc		7,346		156
	Sterling Bancorp		9,322		155
*	Zillow Group Inc. Class A		2,761		154
	MFA Financial Inc.		21,006		152
	Selective Insurance Group Inc.		2,718		152
	FNB Corp.		15,008		151
	Weingarten Realty Investors		5,618		151
	Glacier Bancorp Inc.		4,048		151
	RLI Corp.		1,873		151
	QTS Realty Trust Inc.		2,678		150
	Ryman Hospitality Properties Inc.		2,150		149
	FirstCash Inc.		1,940		149
	First Citizens BancShares Inc.		329		149
	Physicians Realty Trust		7,889		149
	IBERIABANK Corp.		2,434		146
	First Hawaiian Inc.		6,116		146
	Bank OZK		5,732		146
	Taubman Centers Inc.		2,785		145
	Community Bank System Inc.		2,381		145
	Wintrust Financial Corp.		2,639		141
	White Mountains Insurance Group Ltd.		142		141
	PS Business Parks Inc.		938		139
	Agree Realty Corp.		1,931		139
	Service Properties Trust		7,622		138
	Bank of Hawaii Corp.		1,843		137
	Morningstar Inc.		927		136
	Macerich Co.		6,666		136
	Hancock Whitney Corp.		4,034		135
	Corporate Office Properties Trust		5,270		134
	United Bankshares Inc.		4,557		132
	BankUnited Inc.		4,425		131
	Federated Hermes Inc.		4,512		130
	Piedmont Office Realty Trust Inc.		5,940		128
	Apple Hospitality REIT Inc.		9,783		128
*	eHealth Inc.		1,060		124
	Associated Banc-Corp		7,327		124
	Old National Bancorp		7,852		124
	Pebblebrook Hotel Trust		6,113		124
	Home BancShares Inc.		7,325		123
	UMB Financial Corp.		2,098		122
	Evercore Inc.		1,803		120
*	Cannae Holdings Inc.		3,192		119
	Kennedy-Wilson Holdings Inc.		5,806		117
	Kinsale Capital Group Inc.		961		117
	Lexington Realty Trust Class B		11,248		117
	Apollo Commercial Real Estate Finance Inc.		7,179		116
^	Santander Consumer USA Holdings Inc.		4,761		116
	CVB Financial Corp.		6,255		116
	Sunstone Hotel Investors Inc.		10,551		116
	CNO Financial Group Inc.		7,209		115
	Ares Management Corp. Class A		3,322		115
	CenterState Bank Corp.		5,665		115
	PotlatchDeltic Corp.		3,117		115
*	Redfin Corp.		4,210		114
	BancorpSouth Bank		4,634		113

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	OneMain Holdings Inc.		3,080		113
	Brandywine Realty Trust		8,259		112
	Paramount Group Inc.		9,213		112
	Cathay General Bancorp		3,636		112
	Columbia Banking System Inc.		3,370		112
	Washington Federal Inc.		3,730		112
	Atlantic Union Bankshares Corp.		3,745		111
	Invesco Mortgage Capital Inc.		6,878		111
	Investors Bancorp Inc.		10,492		111
*	Texas Capital Bancshares Inc.		2,317		109
	BOK Financial Corp.		1,500		109
	Fulton Financial Corp.		7,471		108
	American Equity Investment Life Holding Co.		4,222		107
	South State Corp.		1,560		106
	Retail Properties of America Inc.		10,127		106
	Independent Bank Corp.		1,569		106
	RLJ Lodging Trust		7,833		103
	Columbia Property Trust Inc.		5,460		103
	Navient Corp.		9,126		102
	Hannon Armstrong Sustainable Infrastructure Capital Inc.		3,013		102
	Washington REIT		3,799		102
	Houlihan Lokey Inc.		1,955		100
*	LendingTree Inc.		363		100
	Ameris Bancorp		2,890		99
*	Enstar Group Ltd.		541		97
	Simmons First National Corp.		4,460		95
	First Financial Bancorp		4,610		95
*	Cushman & Wakefield plc		5,218		95
	American Assets Trust Inc.		2,284		95
	National Storage Affiliates Trust		2,801		94
	Four Corners Property Trust Inc.		3,273		94
	CareTrust REIT Inc.		4,499		94
	WesBanco Inc.		3,045		93
*	Genworth Financial Inc.		23,851		93
	First Midwest Bancorp Inc.		5,051		92
	United Community Banks Inc.		3,700		92
	First Merchants Corp.		2,602		91
	Acadia Realty Trust		3,985		91
	Redwood Trust Inc.		5,303		91
	Colony Capital Inc.		22,768		90
	International Bancshares Corp.		2,638		90
	Urban Edge Properties		5,401		87
	DiamondRock Hospitality Co.		9,500		87
	Argo Group International Holdings Ltd.		1,539		87
	PennyMac Mortgage Investment Trust		4,156		86
	Essential Properties Realty Trust Inc.		3,710		85
	EVERTEC Inc.		2,861		85
	LTC Properties Inc.		1,869		84
	Walker & Dunlop Inc.		1,291		84
*	PRA Group Inc.		2,155		84
	CoreCivic Inc.		5,646		84
	Cadence BanCorp Class A		5,909		83
	Uniti Group Inc.		8,527		83
	Easterly Government Properties Inc.		3,501		83
	WSFS Financial Corp.		2,398		83
	GEO Group Inc.		5,639		83
	Empire State Realty Trust Inc.		7,049		82
	New York Mortgage Trust Inc.		14,414		82
	Trustmark Corp.		3,051		82
	SITE Centers Corp.		7,011		81
	First BanCorp		10,127		80
	Xenia Hotels & Resorts Inc.		5,349		80
	Retail Opportunity Investments Corp.		5,285		79
	ServisFirst Bancshares Inc.		2,274		79

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	FGL Holdings		6,822		78
	Independent Bank Group Inc.		1,675		78
	Mack-Cali Realty Corp.		4,083		77
	Global Net Lease Inc.		4,175		77
	Capitol Federal Financial Inc.		6,303		77
*	Green Dot Corp.		2,242		77
	Banner Corp.		1,672		76
	Horace Mann Educators Corp.		1,960		76
	Ladder Capital Corp.		4,909		75
	Renasant Corp.		2,610		74
	Heartland Financial USA Inc.		1,680		72
	Westamerica Bancorporation		1,242		72
	Moelis & Co.		2,243		72
*	NMI Holdings Inc.		3,068		72
	Bank of NT Butterfield & Son Ltd.		2,569		71
	Towne Bank		3,079		71
	Diversified Healthcare Trust		11,186		70
	Great Western Bancorp Inc.		2,610		70
	Hope Bancorp Inc.		5,735		70
	Pacific Premier Bancorp Inc.		2,708		70
	ProAssurance Corp.		2,539		69
	NBT Bancorp Inc.		2,032		68
	Hilltop Holdings Inc.		3,272		68
	Artisan Partners Asset Management Inc.		2,369		68
	Northwest Bancshares Inc.		4,803		67
*	Axos Financial Inc.		2,673		67
	Universal Health Realty Income Trust		612		66
	BGC Partners Inc.		14,071		66
	Cohen & Steers Inc.		1,044		65
	Newmark Group Inc.		6,806		65
	Hamilton Lane Inc.		1,039		65
	Kite Realty Group Trust		3,984		64
	Monmouth Real Estate Investment Corp.		4,500		64
	Office Properties Income Trust		2,187		64
	National General Holdings Corp.		3,211		63
*	Cardtronics plc		1,714		62
	Alexander & Baldwin Inc.		3,298		62
	Industrial Logistics Properties Trust		2,945		61
*	Seacoast Banking Corp. of Florida		2,425		60
	First Interstate BancSystem Inc.		1,743		59
	AMERISAFE Inc.		905		59
	S&T Bancorp Inc.		1,783		59
	Employers Holdings Inc.		1,502		58
	Eagle Bancorp Inc.		1,539		58
	Independence Realty Trust Inc.		4,307		57
	CNA Financial Corp.		1,371		57
	Veritex Holdings Inc.		2,360		57
	James River Group Holdings Ltd.		1,393		56
	First Commonwealth Financial Corp.		4,757		56
	Park National Corp.		642		56
	Provident Financial Services Inc.		2,792		56
	First Busey Corp.		2,504		55
	Mercury General Corp.		1,265		55
	Tompkins Financial Corp.		679		54
	City Holding Co.		770		54
	Seritage Growth Properties		1,551		53
	Safety Insurance Group Inc.		676		53
	Meta Financial Group Inc.		1,609		53
	American Finance Trust Inc.		5,074		53
	ARMOUR Residential REIT Inc.		2,899		52
	Brookline Bancorp Inc.		3,738		52
*	Encore Capital Group Inc.		1,393		52
	Berkshire Hills Bancorp Inc.		2,108		51
	Realogy Holdings Corp.		5,486		51

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Flagstar Bancorp Inc.		1,579		50
	Innovative Industrial Properties Inc.		544		50
	Tanger Factory Outlet Centers Inc.		4,174		50
	Colony Credit Real Estate Inc.		3,894		50
	OceanFirst Financial Corp.		2,418		49
	Brookfield Property REIT Inc. Class A		3,020		49
	Sandy Spring Bancorp Inc.		1,601		49
	Southside Bancshares Inc.		1,523		49
	Lakeland Financial Corp.		1,189		49
	TFS Financial Corp.		2,317		47
	RPT Realty		3,620		47
	PJT Partners Inc.		1,040		47
	BancFirst Corp.		904		46
	Getty Realty Corp.		1,611		46
	Waddell & Reed Financial Inc.		3,253		45
*	Mr Cooper Group Inc.		3,477		45
	Summit Hotel Properties Inc.		4,777		44
	Virtu Financial Inc.		2,346		44
	First Bancorp		1,362		44
	Armada Hoffler Properties Inc.		2,600		44
	Nelnet Inc.		820		44
	Piper Sandler Cos.		617		43
	TriCo Bancshares		1,261		43
	Enterprise Financial Services Corp.		1,114		43
	TPG RE Finance Trust Inc.		2,189		42
	First Defiance Financial Corp.		1,756		42
	Community Healthcare Trust Inc.		874		42
*	Evo Payments Inc.		1,629		41
*	Trupanion Inc.		1,339		41
	NexPoint Residential Trust Inc.		922		41
	PennyMac Financial Services Inc.		1,162		41
	iStar Inc.		2,686		41
	National Bank Holdings Corp.		1,324		40
	Stewart Information Services Corp.		1,114		40
*	Ambac Financial Group Inc.		2,089		40
	Heritage Financial Corp.		1,699		39
	Granite Point Mortgage Trust Inc.		2,392		39
	Kearny Financial Corp.		3,594		39
	Investors Real Estate Trust		546		38
	OFG Bancorp		2,276		38
*	Columbia Financial Inc.		2,449		38
	Boston Private Financial Holdings Inc.		3,878		38
*	Focus Financial Partners Inc.		1,364		37
	United Fire Group Inc.		962		37
	Meridian Bancorp Inc.		2,173		36
*	Triumph Bancorp Inc.		1,044		35
*	INTL. FCStone Inc.		763		35
	American National Insurance Co.		350		34
	German American Bancorp Inc.		1,148		34
	Virtus Investment Partners Inc.		310		34
	Preferred Bank		659		34
	Franklin Street Properties Corp.		4,706		34
	LendingClub Corp.		3,046		34
*	Everi Holdings Inc.		3,218		33
*	Marcus & Millichap Inc.		1,043		33
	Stock Yards Bancorp Inc.		935		33
	Lakeland Bancorp Inc.		2,243		32
	ConnectOne Bancorp Inc.		1,530		32
	Carolina Financial Corp.		980		32
	Banc of California Inc.		2,056		32
	Cass Information Systems Inc.		669		31
	Central Pacific Financial Corp.		1,299		31
*	Third Point Reinsurance Ltd.		3,446		31
	Federal Agricultural Mortgage Corp.		408		31

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	Capstead Mortgage Corp.		4,295		30
	Univest Financial Corp.		1,295		30
	Alexander’s Inc.		97		30
*	Enova International Inc.		1,566		30
	Goosehead Insurance Inc.		553		30
	Bryn Mawr Bank Corp.		901		30
	Allegiance Bancshares Inc.		898		30
	Chatham Lodging Trust		2,125		30
*	St. Joe Co.		1,504		30
	TrustCo Bank Corp. NY		4,287		29
	Community Trust Bancorp Inc.		759		29
	Washington Trust Bancorp Inc.		681		29
	1st Source Corp.		694		29
*	Palomar Holdings Inc.		573		29
	Brightsphere Investment Group Inc.		3,102		29
	HomeStreet Inc.		1,062		29
	Camden National Corp.		697		29
	Front Yard Residential Corp.		2,244		28
	Universal Insurance Holdings Inc.		1,363		28
	City Office REIT Inc.		2,401		28
*	Bancorp Inc.		2,287		28
	Urstadt Biddle Properties Inc.		1,341		28
*	Nicolet Bankshares Inc.		409		27
*	Customers Bancorp Inc.		1,339		27
	Safehold Inc.		492		27
	Gladstone Commercial Corp.		1,402		26
	Horizon Bancorp Inc.		1,749		26
	Banco Latinoamericano de Comercio Exterior SA		1,469		26
	RMR Group Inc.		701		26
*	MBIA Inc.		3,342		26
	Origin Bancorp Inc.		859		26
	QCR Holdings Inc.		682		26
	Heritage Commerce Corp.		2,507		26
	Bank of Marin Bancorp		670		26
	FB Financial Corp.		783		25
	Peoples Bancorp Inc.		884		25
	Great Southern Bancorp Inc.		490		25
	National Western Life Group Inc.		105		25
	First Foundation Inc.		1,730		25
	Northfield Bancorp Inc.		1,764		25
	WisdomTree Investments Inc.		6,122		25
	First Financial Corp.		616		25
	Washington Prime Group Inc.		8,879		24
	Peapack Gladstone Financial Corp.		879		24
	Dime Community Bancshares Inc.		1,428		24
	First of Long Island Corp.		1,149		24
	B. Riley Financial Inc.		992		23
	Ellington Financial Inc.		1,411		23
	Midland States Bancorp Inc.		979		23
*	TriState Capital Holdings Inc.		1,170		23
	Western Asset Mortgage Capital Corp.		2,302		23
	Opus Bank		972		23
	Saul Centers Inc.		532		23
	UMH Properties Inc.		1,568		23
	KKR Real Estate Finance Trust Inc.		1,156		23
	RE/MAX Holdings Inc.		777		23
	New Senior Investment Group Inc.		3,730		23
	First Business Financial Services Inc.		941		23
	Central Valley Community Bancorp		1,311		23
	AG Mortgage Investment Trust Inc.		1,499		22
	Flushing Financial Corp.		1,232		22
	Whitestone REIT		1,797		22
	First Bancshares Inc.		734		22
	CorEnergy Infrastructure Trust Inc.		611		21

Vanguard^®Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares		Market Value ($000)
	FBL Financial Group Inc. Class A		441		21
	CatchMark Timber Trust Inc.		2,289		21
	Preferred Apartment Communities Inc.		2,190		21
	CBTX Inc.		837		21
	Hanmi Financial Corp.		1,323		21
	Ready Capital Corp.		1,423		21
	Bridge Bancorp Inc.		746		21
	BankFinancial Corp.		1,801		20
	Independent Bank Corp.		1,025		20
	Global Medical REIT Inc.		1,428		20
*	Watford Holdings Ltd.		871		20
	1st Constitution Bancorp		1,079		20
	Franklin Financial Network Inc.		589		20
*	World Acceptance Corp.		252		20
	State Auto Financial Corp.		782		20
	Byline Bancorp Inc.		1,112		19
*	I3 Verticals Inc.		668		19
*	Atlantic Capital Bancshares Inc.		1,057		19
	Sculptor Capital Management Inc. Class A		839		19
	First Mid Bancshares Inc.		671		19
	Cowen Inc.		1,261		19
	First Community Bankshares Inc.		718		19
	Hersha Hospitality Trust Class A		1,621		19
	Ares Commercial Real Estate Corp.		1,219		19
	Jernigan Capital Inc.		1,038		19
	Financial Institutions Inc.		688		19
	Retail Value Inc.		666		18
	Waterstone Financial Inc.		1,112		18
	Mercantile Bank Corp.		637		18
	Diamond Hill Investment Group Inc.		144		18
	People’s Utah Bancorp		757		18
	Arrow Financial Corp.		564		18
	Live Oak Bancshares Inc.		1,158		18
	Farmers National Banc Corp.		1,180		18
*	Equity Bancshares Inc.		671		18
	Carter Bank & Trust		1,037		18
	Exantas Capital Corp.		1,509		17
*	Amerant Bancorp Inc.		925		17
	Republic Bancorp Inc.		475		17
	Dynex Capital Inc.		986		17
*	Assetmark Financial Holdings Inc.		635		17
	Capital City Bank Group Inc.		627		17
	Independence Holding Co.		445		17
	One Liberty Properties Inc.		684		16
	Sierra Bancorp		691		16
	Orchid Island Capital Inc.		2,857		16
	Anworth Mortgage Asset Corp.		4,990		16
	HomeTrust Bancshares Inc.		686		16
	CNB Financial Corp.		633		16
	Bank First Corp.		266		16
	MidWestOne Financial Group Inc.		533		15
*	Health Insurance Innovations Inc.		513		15
•	CorePoint Lodging Inc.		1,878		15
*	FRP Holdings Inc.		329		15
	West Bancorporation Inc.		714		15
	Business First Bancshares Inc.		603		15
	Old Second Bancorp Inc.		1,349		14
	Heritage Insurance Holdings Inc.		1,286		14
	PCSB Financial Corp.		778		14
*	Tejon Ranch Co.		938		14
	Bar Harbor Bankshares		685		14
	Peoples Financial Services Corp.		314		14
	Southern National Bancorp of Virginia Inc.		966		14
	American National Bankshares Inc.		443		14

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Cambridge Bancorp	198	14
	RBB Bancorp	793	13
*	Bridgewater Bancshares Inc.	1,052	13
*	Southern First Bancshares Inc.	344	13
	Consolidated-Tomoka Land Co.	226	13
	Global Indemnity Ltd.	407	13
	Farmers & Merchants Bancorp Inc.	476	13
	First Bancorp Inc.	493	13
	HCI Group Inc.	293	12
	Southern Missouri Bancorp Inc.	377	12
*	Citizens Inc. Class A	2,096	12
*	Spirit of Texas Bancshares Inc.	662	12
	Civista Bancshares Inc.	636	12
	Home Bancorp Inc.	368	12
*	Metropolitan Bank Holding Corp.	284	12
	Macatawa Bank Corp.	1,254	12
*	Red River Bancshares Inc.	231	12
	Greenhill & Co. Inc.	808	12
	HarborOne Bancorp Inc.	1,167	12
^{*,^}	Paysign Inc.	1,416	11
	Northrim BanCorp Inc.	322	11
	Enterprise Bancorp Inc.	409	11
*	Donnelley Financial Solutions Inc.	1,291	11
	Great Ajax Corp.	787	11
	Summit Financial Group Inc.	505	11
	Oppenheimer Holdings Inc.	466	11
	Bluerock Residential Growth REIT Inc.	1,054	11
*	Forestar Group Inc.	603	11
	Gladstone Land Corp.	798	11
*	Howard Bancorp Inc.	678	11
	Westwood Holdings Group Inc.	419	11
*	BRP Group Inc. Class A	688	11
*	EZCORP Inc.	2,205	11
*	On Deck Capital Inc.	3,013	11
	Hingham Institution for Savings	57	10
	Investar Holding Corp.	488	10
	Metrocity Bankshares Inc.	735	10
	Investors Title Co.	63	10
	Penns Woods Bancorp Inc.	342	10
	Cedar Realty Trust Inc.	3,901	10
*	Rafael Holdings Inc. Class B	537	10
	Western New England Bancorp Inc.	1,132	10
	Guaranty Bancshares Inc.	362	10
	SmartFinancial Inc.	526	10
*	eXp World Holdings Inc.	1,030	10
*	Greenlight Capital Re Ltd.	1,163	10
	BBX Capital Corp.	2,810	10
	Premier Financial Bancorp Inc.	586	10
	First Internet Bancorp	401	10
	First Choice Bancorp	428	10
	National Bankshares Inc.	273	10
	Braemar Hotels & Resorts Inc.	1,291	9
	South Plains Financial Inc.	474	9
	Parke Bancorp Inc.	511	9
	Luther Burbank Corp.	906	9
	LCNB Corp.	596	9
*	Regional Management Corp.	367	9
	Century Bancorp Inc.	129	9
	Shore Bancshares Inc.	590	9
	Orrstown Financial Services Inc.	508	9
	Amalgamated Bank	558	9
*	Select Bancorp Inc.	848	9
	Territorial Bancorp Inc.	350	9
	Bankwell Financial Group Inc.	312	9

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Bank of Commerce Holdings	843	9
	Reliant Bancorp Inc.	442	9
	MutualFirst Financial Inc.	261	9
	MVB Financial Corp.	495	9
	Evans Bancorp Inc.	221	9
	FS Bancorp Inc.	180	9
	SB One Bancorp	392	9
	United Insurance Holdings Corp.	914	9
*	Stratus Properties Inc.	299	9
	Arlington Asset Investment Corp.	1,511	9
	First Capital Inc.	139	9
	Capstar Financial Holdings Inc.	632	8
	Norwood Financial Corp.	274	8
	Marlin Business Services Corp.	429	8
	First Bank	864	8
	ACNB Corp.	271	8
	Community Bankers Trust Corp.	1,001	8
*	FVCBankcorp Inc.	527	8
	Ashford Hospitality Trust Inc.	3,763	8
	Bank of Princeton	298	8
	Timberland Bancorp Inc.	344	8
*	International Money Express Inc.	845	8
*	Richmond Mutual Bancorporation Inc.	588	8
*	PICO Holdings Inc.	831	8
	Codorus Valley Bancorp Inc.	381	8
*	Hallmark Financial Services Inc.	539	8
	BRT Apartments Corp.	474	7
*	Malvern Bancorp Inc.	385	7
	BCB Bancorp Inc.	642	7
	PCB Bancorp	536	7
^{^}	Pennsylvania REIT	3,024	7
*	Oportun Financial Corp.	337	7
	ESSA Bancorp Inc.	428	7
	FedNat Holding Co.	541	7
	Merchants Bancorp	390	7
	Safeguard Scientifics Inc.	794	7
*	Ocwen Financial Corp.	5,607	7
	Tiptree Inc.	1,054	7
	Community Financial Corp.	215	7
*	Pioneer Bancorp Inc.	500	7
	Level One Bancorp Inc.	280	7
	C&F Financial Corp.	149	7
	Curo Group Holdings Corp.	734	7
	Protective Insurance Corp.	471	7
	Donegal Group Inc.	470	7
	Prudential Bancorp Inc.	401	7
	HBT Financial Inc.	424	7
	Ames National Corp.	252	7
*	MMA Capital Holdings Inc.	215	6
*	Capital Bancorp Inc.	468	6
*	MainStreet Bancshares Inc.	318	6
	Crawford & Co. Class A	861	6
	Provident Financial Holdings Inc.	318	6
*	Coastal Financial Corp.	380	6
	FNCB Bancorp Inc.	938	6
	Sterling Bancorp Inc.	879	6
	Riverview Bancorp Inc.	953	6
	Northeast Bank	343	6
	Colony Bankcorp Inc.	410	6
*	Republic First Bancorp Inc.	1,992	6
	First Financial Northwest Inc.	431	6
	OP Bancorp	676	6
	United Security Bancshares	683	6
	Fidelity D&D Bancorp Inc.	119	6

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Chemung Financial Corp.	161	6
	Ohio Valley Banc Corp.	205	6
	Peoples Bancorp of North Carolina Inc.	222	6
	Unity Bancorp Inc.	326	6
	Mid Penn Bancorp Inc.	259	6
	Franklin Financial Services Corp.	177	5
	Union Bankshares Inc.	183	5
	Mackinac Financial Corp.	389	5
*	Medallion Financial Corp.	911	5
*	PDL Community Bancorp	383	5
	Oak Valley Bancorp	316	5
	GAIN Capital Holdings Inc.	889	5
	Pzena Investment Management Inc.	726	5
	Silvercrest Asset Management Group Inc.	407	5
*	Altisource Portfolio Solutions SA	283	4
	CBL & Associates Properties Inc.	8,083	4
	Provident Bancorp Inc.	389	4
*	CrossFirst Bankshares Inc.	311	4
	Greene County Bancorp Inc.	152	4
*	ProSight Global Inc.	306	4
*	Esquire Financial Holdings Inc.	174	4
	First Guaranty Bancshares Inc.	218	4
*	Maui Land & Pineapple Co. Inc.	334	4
*	Elevate Credit Inc.	1,078	4
	GAMCO Investors Inc. Class A	224	3
*	Silvergate Capital Corp. Class A	226	3
	Alerus Financial Corp.	159	3
*	Transcontinental Realty Investors Inc.	95	3
*	American Realty Investors Inc.	208	3
	Citizens & Northern Corp.	101	2
*	Avalon GloboCare Corp.	1,381	2
	Bank7 Corp.	100	2
			278,609
Health Care (13.5%)
	Johnson & Johnson	124,324	16,719
	UnitedHealth Group Inc.	44,237	11,279
	Merck & Co. Inc.	119,244	9,129
	Pfizer Inc.	260,475	8,705
	Bristol-Myers Squibb Co.	109,468	6,465
	Medtronic plc	62,855	6,328
	Abbott Laboratories	80,648	6,212
	AbbVie Inc.	69,224	5,933
	Amgen Inc.	28,073	5,607
	Thermo Fisher Scientific Inc.	18,658	5,426
	Eli Lilly & Co.	39,756	5,014
	Danaher Corp.	28,839	4,170
	Gilead Sciences Inc.	59,563	4,131
	Cigna Corp.	17,105	3,129
	Stryker Corp.	16,019	3,053
	Anthem Inc.	11,861	3,049
	Zoetis Inc.	22,360	2,979
	Becton Dickinson and Co.	12,500	2,973
	Allergan plc	15,345	2,926
*	Intuitive Surgical Inc.	5,346	2,855
*	Vertex Pharmaceuticals Inc.	11,958	2,679
*	Biogen Inc.	8,411	2,594
*	Boston Scientific Corp.	64,796	2,423
*	Edwards Lifesciences Corp.	9,688	1,984
	Humana Inc.	6,190	1,979
	Baxter International Inc.	22,573	1,884
*	Illumina Inc.	6,852	1,820
*	Regeneron Pharmaceuticals Inc.	3,816	1,696
	HCA Healthcare Inc.	12,601	1,600
*	Centene Corp.	27,069	1,435

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Zimmer Biomet Holdings Inc.	9,575	1,304
*	DexCom Inc.	4,238	1,170
*	IQVIA Holdings Inc.	8,247	1,150
	Agilent Technologies Inc.	14,359	1,107
	ResMed Inc.	6,649	1,057
*	IDEXX Laboratories Inc.	3,973	1,011
	Cerner Corp.	14,567	1,009
*	Alexion Pharmaceuticals Inc.	9,964	937
*	Veeva Systems Inc.	6,138	871
*	Align Technology Inc.	3,650	797
*	Laboratory Corp. of America Holdings	4,531	796
*	BioMarin Pharmaceutical Inc.	8,361	756
	Cooper Cos. Inc.	2,275	738
	Teleflex Inc.	2,164	725
	Cardinal Health Inc.	13,691	714
	Quest Diagnostics Inc.	6,278	666
*	Incyte Corp.	8,325	628
	STERIS plc	3,931	624
*	Seattle Genetics Inc.	5,381	613
	AmerisourceBergen Corp. Class A	7,092	598
*	Hologic Inc.	12,503	589
*	Alnylam Pharmaceuticals Inc.	4,951	583
*	Exact Sciences Corp.	6,538	529
*	Insulet Corp.	2,768	526
*	Varian Medical Systems Inc.	4,244	522
	West Pharmaceutical Services Inc.	3,431	517
	Dentsply Sirona Inc.	10,408	512
*	Elanco Animal Health Inc.	18,565	509
	Universal Health Services Inc.	3,665	454
	PerkinElmer Inc.	5,170	447
*	Teladoc Health Inc.	3,361	420
*	Henry Schein Inc.	6,852	418
*	Mylan NV	24,069	414
*	Neurocrine Biosciences Inc.	4,226	400
*	Sarepta Therapeutics Inc.	3,299	378
*	Qiagen NV	10,323	371
*	Catalent Inc.	7,041	363
*	DaVita Inc.	4,639	360
*	Masimo Corp.	2,195	359
*	Molina Healthcare Inc.	2,905	356
*	Charles River Laboratories International Inc.	2,261	352
*	Bio-Rad Laboratories Inc.	994	350
	Encompass Health Corp.	4,554	341
	Bio-Techne Corp.	1,749	330
*	ABIOMED Inc.	2,071	311
*	Ionis Pharmaceuticals Inc.	5,971	303
	Chemed Corp.	725	303
	Hill-Rom Holdings Inc.	3,137	301
	Perrigo Co. plc	5,881	298
*	Jazz Pharmaceuticals plc	2,587	296
*	Horizon Therapeutics plc	8,643	296
*	Novocure Ltd.	4,023	293
*	PRA Health Sciences Inc.	2,938	277
*	Moderna Inc.	10,360	269
*	Exelixis Inc.	14,054	261
*	Haemonetics Corp.	2,405	261
*	Amedisys Inc.	1,467	255
*	Penumbra Inc.	1,481	246
	Avantor Inc.	14,735	232
*	HealthEquity Inc.	3,201	227
*	ACADIA Pharmaceuticals Inc.	5,237	224
	Bruker Corp.	4,804	209
*	Repligen Corp.	2,424	207
*	United Therapeutics Corp.	2,002	206

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Reata Pharmaceuticals Inc.	1,049	204
*	Tandem Diabetes Care Inc.	2,627	196
*	Bluebird Bio Inc.	2,562	185
*	Acceleron Pharma Inc.	2,155	185
*	Syneos Health Inc.	2,919	185
*	Iovance Biotherapeutics Inc.	5,524	182
*	Nevro Corp.	1,380	180
*	Wright Medical Group NV	5,922	179
*	ICU Medical Inc.	905	177
*	Integra LifeSciences Holdings Corp.	3,342	174
*	Global Blood Therapeutics Inc.	2,676	171
*	LHC Group Inc.	1,409	171
*	Envista Holdings Corp.	6,740	171
*	Nektar Therapeutics Class A	7,926	165
*	Globus Medical Inc.	3,563	161
*	NuVasive Inc.	2,434	160
*	AMN Healthcare Services Inc.	2,158	159
*	LivaNova plc	2,277	159
*	Omnicell Inc.	1,946	159
*	PTC Therapeutics Inc.	2,823	155
*	Alkermes plc	7,377	154
*	FibroGen Inc.	3,649	153
*	Arrowhead Pharmaceuticals Inc.	4,309	152
*	Guardant Health Inc.	1,724	150
*	Neogen Corp.	2,399	146
*	Ultragenyx Pharmaceutical Inc.	2,570	144
*	Integer Holdings Corp.	1,540	139
*	Blueprint Medicines Corp.	2,546	138
*	Agios Pharmaceuticals Inc.	2,811	133
*	MyoKardia Inc.	2,095	133
*	Momenta Pharmaceuticals Inc.	4,682	132
*	Immunomedics Inc.	8,233	132
*	Halozyme Therapeutics Inc.	6,611	129
*	Quidel Corp.	1,674	129
*	NeoGenomics Inc.	4,506	128
*	Tenet Healthcare Corp.	4,830	127
*	Emergent BioSolutions Inc.	2,141	126
*	Select Medical Holdings Corp.	5,209	125
*	Acadia Healthcare Co. Inc.	4,107	122
	CONMED Corp.	1,280	121
*	Medpace Holdings Inc.	1,297	117
*	Amicus Therapeutics Inc.	12,124	116
*	Sage Therapeutics Inc.	2,373	112
	Cantel Medical Corp.	1,749	110
*	Natera Inc.	2,904	110
*	Intercept Pharmaceuticals Inc.	1,180	108
*	Mirati Therapeutics Inc.	1,204	108
*	iRhythm Technologies Inc.	1,233	107
	Ensign Group Inc.	2,376	106
*	Arena Pharmaceuticals Inc.	2,356	105
*	Insmed Inc.	4,123	103
*	Apellis Pharmaceuticals Inc.	2,702	94
*	HMS Holdings Corp.	4,068	93
*	Axsome Therapeutics Inc.	1,172	91
*	Merit Medical Systems Inc.	2,536	91
	Patterson Cos. Inc.	3,814	91
*	Prestige Consumer Healthcare Inc.	2,405	90
*	Ironwood Pharmaceuticals Inc.	7,277	88
*	Premier Inc.	2,883	85
*	ChemoCentryx Inc.	1,895	85
*	Pacira BioSciences Inc.	1,931	84
*	Invitae Corp.	4,094	83
*	Fate Therapeutics Inc.	2,831	83
*	Biohaven Pharmaceutical Holding Co. Ltd.	1,797	79

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Glaukos Corp.	1,781	78
*	Epizyme Inc.	3,612	77
*	Ra Pharmaceuticals Inc.	1,606	75
*	Ligand Pharmaceuticals Inc.	799	75
*	Heron Therapeutics Inc.	3,916	73
*	Xencor Inc.	2,232	73
*	Avanos Medical Inc.	2,234	72
*	Kodiak Sciences Inc.	1,107	71
*	MEDNAX Inc.	3,883	66
*	AtriCure Inc.	1,719	66
*	BioTelemetry Inc.	1,525	65
	Turning Point Therapeutics Inc.	1,288	64
*	STAAR Surgical Co.	2,021	63
*	REGENXBIO Inc.	1,582	63
*	Forty Seven Inc.	1,070	62
	US Physical Therapy Inc.	594	62
*	Cardiovascular Systems Inc.	1,628	61
*	Esperion Therapeutics Inc.	1,206	61
*	Magellan Health Inc.	1,006	60
*	R1 RCM Inc.	4,799	59
*	Myriad Genetics Inc.	3,294	58
*	Allscripts Healthcare Solutions Inc.	7,661	58
*	Endo International plc	10,447	58
*	Coherus Biosciences Inc.	2,943	57
*	Corcept Therapeutics Inc.	4,506	57
*	Brookdale Senior Living Inc.	8,610	57
*	Allakos Inc.	898	56
*	Veracyte Inc.	2,238	55
*	Inspire Medical Systems Inc.	639	55
*	NanoString Technologies Inc.	1,507	54
*	Editas Medicine Inc.	2,410	53
*	Principia Biopharma Inc.	821	53
*	Zogenix Inc.	2,021	51
*	Deciphera Pharmaceuticals Inc.	947	50
*	Aimmune Therapeutics Inc.	2,111	50
*	Theravance Biopharma Inc.	2,048	50
*	TG Therapeutics Inc.	3,869	49
	Luminex Corp.	1,947	48
*	Tabula Rasa HealthCare Inc.	856	48
*	Allogene Therapeutics Inc.	1,773	48
*	Intra-Cellular Therapies Inc.	2,268	48
*	Dicerna Pharmaceuticals Inc.	2,415	48
*	Revance Therapeutics Inc.	2,060	48
*	Shockwave Medical Inc.	1,172	47
*	Sangamo Therapeutics Inc.	5,513	47
*	Karyopharm Therapeutics Inc.	2,868	47
*	Akebia Therapeutics Inc.	5,235	46
*	Arvinas Inc.	975	46
*	CareDx Inc.	1,952	45
*	Radius Health Inc.	2,103	44
*	Addus HomeCare Corp.	575	44
*	CryoLife Inc.	1,659	43
	National HealthCare Corp.	566	42
*	Tactile Systems Technology Inc.	830	42
*	Enanta Pharmaceuticals Inc.	814	41
*	Natus Medical Inc.	1,539	41
*	Denali Therapeutics Inc.	2,091	41
	Atrion Corp.	66	41
*	Supernus Pharmaceuticals Inc.	2,259	41
*	Innoviva Inc.	3,003	40
*	RadNet Inc.	1,918	39
*	Varex Imaging Corp.	1,680	39
*	Inogen Inc.	850	39
*	Alector Inc.	1,403	39

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Athenex Inc.	3,117	38
*	Cytokinetics Inc.	2,726	38
*	Hanger Inc.	1,623	37
*	Madrigal Pharmaceuticals Inc.	426	37
*	Portola Pharmaceuticals Inc.	3,616	37
*	Aerie Pharmaceuticals Inc.	2,035	36
*	Cerus Corp.	6,861	35
*	Bridgebio Pharma Inc.	1,057	34
*	Collegium Pharmaceutical Inc.	1,408	33
*	NextGen Healthcare Inc.	2,543	33
*	Kadmon Holdings Inc.	7,163	33
*	Providence Service Corp.	535	33
*	Intersect ENT Inc.	1,362	32
*	Tricida Inc.	1,011	32
*	Evolent Health Inc.	3,469	32
*	Y-mAbs Therapeutics Inc.	1,080	32
*	Vericel Corp.	2,042	32
*	Pennant Group Inc.	1,148	31
*	Heska Corp.	325	31
^{*,^}	Change Healthcare Inc.	2,260	31
*	Twist Bioscience Corp.	968	30
*	PetIQ Inc.	948	29
*	Silk Road Medical Inc.	737	29
	National Research Corp.	531	29
*	ImmunoGen Inc.	6,524	29
*	Adverum Biotechnologies Inc.	2,350	29
*	Atara Biotherapeutics Inc.	2,380	29
*	Codexis Inc.	2,479	29
*	G1 Therapeutics Inc.	1,590	29
*	Orthofix Medical Inc.	803	28
*	CorVel Corp.	411	28
*	Tivity Health Inc.	2,236	28
*	OPKO Health Inc.	18,763	28
*	HealthStream Inc.	1,152	28
*	Retrophin Inc.	1,791	28
*	Cara Therapeutics Inc.	1,837	28
	NextCure Inc.	646	27
*	Lantheus Holdings Inc.	1,724	27
*	Rocket Pharmaceuticals Inc.	1,367	27
	Cortexyme Inc.	522	26
*	Omeros Corp.	2,192	26
*	Krystal Biotech Inc.	485	26
*	Flexion Therapeutics Inc.	1,640	26
*	Eidos Therapeutics Inc.	511	26
*	Gossamer Bio Inc.	1,967	26
*	Vanda Pharmaceuticals Inc.	2,328	26
*	Amphastar Pharmaceuticals Inc.	1,665	26
*	Constellation Pharmaceuticals Inc.	724	26
*	Rhythm Pharmaceuticals Inc.	1,336	25
*	Anika Therapeutics Inc.	605	25
*	Axonics Modulation Technologies Inc.	697	25
*	Intellia Therapeutics Inc.	1,815	24
*	UroGen Pharma Ltd.	873	24
*	Antares Pharma Inc.	7,322	23
*	Pacific Biosciences of California Inc.	6,631	23
*	ZIOPHARM Oncology Inc.	7,187	22
	Phibro Animal Health Corp.	875	22
*	Arcus Biosciences Inc.	1,443	22
*	Adaptive Biotechnologies Corp.	762	21
*	Amneal Pharmaceuticals Inc.	5,436	21
^{^}	Novavax Inc.	1,304	21
*	Surmodics Inc.	593	21
*	Progenics Pharmaceuticals Inc.	4,323	20
*	Eagle Pharmaceuticals Inc.	443	20

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	BioCryst Pharmaceuticals Inc.	6,768	20
	LeMaitre Vascular Inc.	712	20
*	NGM Biopharmaceuticals Inc.	1,121	20
*	Prothena Corp. plc	1,885	20
*	Karuna Therapeutics Inc.	230	20
*	AngioDynamics Inc.	1,731	20
*	ANI Pharmaceuticals Inc.	414	20
*	Kura Oncology Inc.	1,609	19
*	Community Health Systems Inc.	3,913	19
	Option Care Health Inc.	1,302	19
	Owens & Minor Inc.	2,810	19
*	Kindred Biosciences Inc.	1,750	19
*	BioDelivery Sciences International Inc.	3,889	19
*	PDL BioPharma Inc.	5,544	19
*	Axogen Inc.	1,495	19
*	MacroGenics Inc.	2,104	18
*	Avrobio Inc.	948	18
*	OraSure Technologies Inc.	3,023	18
*	Catalyst Pharmaceuticals Inc.	4,325	18
*	Surgery Partners Inc.	1,102	18
*	Phathom Pharmaceuticals Inc.	495	18
*	Viking Therapeutics Inc.	3,013	18
*	Clovis Oncology Inc.	2,359	18
*	OrthoPediatrics Corp.	382	18
*	Assembly Biosciences Inc.	969	18
*	AnaptysBio Inc.	1,171	18
^{^}	Vir Biotechnology Inc.	376	17
^{*,^}	TherapeuticsMD Inc.	10,315	17
*	Rigel Pharmaceuticals Inc.	8,116	17
*	Homology Medicines Inc.	1,074	17
*	Avid Bioservices Inc.	2,709	17
	Livongo Health Inc.	679	17
^{*,^}	Inovio Pharmaceuticals Inc.	3,944	17
*	Meridian Bioscience Inc.	2,085	17
^{*,^}	Accelerate Diagnostics Inc.	1,288	16
*	Cutera Inc.	661	16
*	BioSpecifics Technologies Corp.	293	16
*	Ardelyx Inc.	2,330	16
*	Odonate Therapeutics Inc.	544	16
*	Pfenex Inc.	1,377	16
*	Cue Biopharma Inc.	899	16
*	Cross Country Healthcare Inc.	1,644	16
^{*,^}	Mallinckrodt plc	3,586	15
*	Triple-S Management Corp.	1,021	15
*	Dynavax Technologies Corp.	3,874	15
*	Calithera Biosciences Inc.	2,357	15
	SpringWorks Therapeutics Inc.	476	15
	Phreesia Inc.	480	15
	Progyny Inc.	534	15
	Computer Programs & Systems Inc.	548	15
^{*,^}	CEL-SCI Corp.	1,311	14
*	Puma Biotechnology Inc.	1,334	14
*	Spectrum Pharmaceuticals Inc.	4,990	14
*	Mersana Therapeutics Inc.	1,627	14
*	SI-BONE Inc.	719	14
*	Quanterix Corp.	605	14
^{*,^}	Precigen Inc.	3,604	14
*	CytomX Therapeutics Inc.	2,012	13
*	Translate Bio Inc.	1,754	13
*	Precision BioSciences Inc.	1,645	13
*	Albireo Pharma Inc.	560	13
*	AMAG Pharmaceuticals Inc.	1,672	13
*	Rubius Therapeutics Inc.	1,548	13
	Utah Medical Products Inc.	147	13

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Viela Bio Inc.	292	13
*	Bioxcel Therapeutics Inc.	339	13
*	Lannett Co. Inc.	1,456	13
*	Agenus Inc.	4,972	13
*	Stemline Therapeutics Inc.	2,076	12
*	Molecular Templates Inc.	768	12
*	Corbus Pharmaceuticals Holdings Inc.	2,588	12
*	Sorrento Therapeutics Inc.	5,610	12
*	SIGA Technologies Inc.	2,399	12
*	Fluidigm Corp.	3,605	12
	Applied Therapeutics Inc.	287	12
*	Crinetics Pharmaceuticals Inc.	579	12
*	Alphatec Holdings Inc.	2,034	12
	Health Catalyst Inc.	380	12
*	Voyager Therapeutics Inc.	1,055	11
*	MeiraGTx Holdings plc	709	11
*	Recro Pharma Inc.	800	11
*	Magenta Therapeutics Inc.	975	11
	IGM Biosciences Inc.	223	11
*	Accuray Inc.	3,840	11
*	Scholar Rock Holding Corp.	794	11
	Invacare Corp.	1,478	11
*	Zynex Inc.	854	11
	Stoke Therapeutics Inc.	435	11
*	Geron Corp.	9,358	11
*	ViewRay Inc.	3,608	10
*	MannKind Corp.	8,065	10
*	TransMedics Group Inc.	651	10
*	Atreca Inc.	430	10
*	Apyx Medical Corp.	1,669	10
*	Gritstone Oncology Inc.	1,201	10
*	Aprea Therapeutics Inc.	294	10
*	Minerva Neurosciences Inc.	1,384	10
*	Aduro Biotech Inc.	3,282	10
*	Kiniksa Pharmaceuticals Ltd.	538	10
*	Akcea Therapeutics Inc.	582	10
*	Syros Pharmaceuticals Inc.	1,621	9
*	RTI Surgical Holdings Inc.	2,555	9
*	Affimed NV	3,967	9
*	Eiger BioPharmaceuticals Inc.	986	9
*	CytoSorbents Corp.	1,520	9
*	WaVe Life Sciences Ltd.	1,067	9
*	Concert Pharmaceuticals Inc.	1,051	9
	Oyster Point Pharma Inc.	251	9
*	Joint Corp.	594	9
*	Beyondspring Inc.	550	9
*	Aeglea BioTherapeutics Inc.	1,274	9
*	Cellular Biomedicine Group Inc.	545	9
*	Ocular Therapeutix Inc.	1,833	9
*	Anavex Life Sciences Corp.	2,261	9
*	Evolus Inc.	992	9
*	GenMark Diagnostics Inc.	2,366	8
*	Replimune Group Inc.	593	8
*	SeaSpine Holdings Corp.	573	8
*	American Renal Associates Holdings Inc.	1,000	8
*	Syndax Pharmaceuticals Inc.	852	8
	Satsuma Pharmaceuticals Inc.	275	8
*	ChromaDex Corp.	2,116	8
*	UNITY Biotechnology Inc.	1,287	8
*	Sientra Inc.	1,785	7
*	MediciNova Inc.	1,779	7
*	Paratek Pharmaceuticals Inc.	1,534	7
*	Genesis Healthcare Inc.	4,433	7
	Castle Biosciences Inc.	239	7

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Athersys Inc.	5,931	7
*	XBiotech Inc.	564	7
*	ADMA Biologics Inc.	2,351	7
*	KalVista Pharmaceuticals Inc.	502	7
*	La Jolla Pharmaceutical Co.	991	7
*	VBI Vaccines Inc.	5,557	7
*	Rockwell Medical Inc.	2,346	7
*	Pieris Pharmaceuticals Inc.	2,101	7
*	TCR2 Therapeutics Inc.	548	7
*	Verrica Pharmaceuticals Inc.	542	6
*	Cabaletta Bio Inc.	430	6
*	Chiasma Inc.	1,438	6
*	iRadimed Corp.	262	6
^{*,^}	Senseonics Holdings Inc.	4,380	6
*	Optinose Inc.	1,002	6
*	Vapotherm Inc.	688	6
	X4 Pharmaceuticals Inc.	556	6
*	Catasys Inc.	390	6
*	Five Prime Therapeutics Inc.	1,533	6
*	Protagonist Therapeutics Inc.	750	6
*	Kezar Life Sciences Inc.	1,334	6
*	Marinus Pharmaceuticals Inc.	2,335	6
*	Seres Therapeutics Inc.	1,844	6
*	GlycoMimetics Inc.	1,587	6
*	Strongbridge Biopharma plc	2,024	6
*	Savara Inc.	2,429	6
*	Sutro Biopharma Inc.	569	6
*	Frequency Therapeutics Inc.	255	6
*	AcelRx Pharmaceuticals Inc.	4,174	6
*	Akero Therapeutics Inc.	253	6
*	Spero Therapeutics Inc.	571	5
*	Lexicon Pharmaceuticals Inc.	1,895	5
*	Cymabay Therapeutics Inc.	3,124	5
*	Lineage Cell Therapeutics Inc.	5,108	5
*	Palatin Technologies Inc.	9,894	5
*	BioLife Solutions Inc.	353	5
*	Misonix Inc.	358	5
	CorMedix Inc.	944	5
*	Galectin Therapeutics Inc.	2,269	5
*	OptimizeRx Corp.	567	5
*	Liquidia Technologies Inc.	1,138	5
*	Hookipa Pharma Inc.	473	5
*	89bio Inc.	131	5
*	Akorn Inc.	4,022	5
*	Harpoon Therapeutics Inc.	304	5
*	Prevail Therapeutics Inc.	364	5
*	Adamas Pharmaceuticals Inc.	1,010	5
*	Zynerba Pharmaceuticals Inc.	1,080	5
*	IntriCon Corp.	309	5
*	Kala Pharmaceuticals Inc.	857	5
*	Apollo Medical Holdings Inc.	259	5
*	Mustang Bio Inc.	1,545	5
*	CASI Pharmaceuticals Inc.	2,498	4
*	Xeris Pharmaceuticals Inc.	1,237	4
*	Cyclerion Therapeutics Inc.	1,008	4
*	Tyme Technologies Inc.	3,607	4
*	Evelo Biosciences Inc.	837	4
*	Enzo Biochem Inc.	1,946	4
*	Millendo Therapeutics Inc.	522	4
*	Evofem Biosciences Inc.	680	4
*	MEI Pharma Inc.	1,980	4
	Morphic Holding Inc.	240	4
*	Personalis Inc.	419	4
*	Oncocyte Corp.	1,689	4

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Pulse Biosciences Inc.	514	4
	Mirum Pharmaceuticals Inc.	211	3
^{*,^}	Marker Therapeutics Inc.	1,413	3
*	Eloxx Pharmaceuticals Inc.	1,114	3
*	EyePoint Pharmaceuticals Inc.	2,666	3
*	Chimerix Inc.	1,938	3
*	Jounce Therapeutics Inc.	739	3
	Exagen Inc.	194	3
*	Celcuity Inc.	385	3
*	Aldeyra Therapeutics Inc.	849	3
*	BioSig Technologies Inc.	888	3
*	Calyxt Inc.	501	3
*	Cerecor Inc.	1,001	3
*	Osmotica Pharmaceuticals plc	519	3
*	Solid Biosciences Inc.	911	3
*	Acorda Therapeutics Inc.	1,996	3
*	LogicBio Therapeutics Inc.	357	3
*	Assertio Therapeutics Inc.	2,554	3
^{*,^}	Soliton Inc.	247	3
*	Menlo Therapeutics Inc.	777	2
*	Baudax Bio Inc.	320	2
*	Kaleido Biosciences Inc.	358	2
*	Enochian Biosciences Inc.	621	2
*	Conformis Inc.	2,412	2
*	Neuronetics Inc.	634	2
*	Aclaris Therapeutics Inc.	1,293	1
^*,§	Alder BioPharmaceuticals CVR Exp. 12/31/2024	1,247	1
	TransEnterix Inc.	756	1
^§	Synergy Pharmaceuticals Inc.	12,927	—
			185,030
Materials & Processing (3.2%)
	Linde plc	25,092	4,793
	Air Products & Chemicals Inc.	10,280	2,258
	Ecolab Inc.	11,800	2,129
	Sherwin-Williams Co.	3,872	2,001
	Newmont Corp.	38,210	1,705
	DuPont de Nemours Inc.	34,743	1,490
	Ingersoll-Rand plc	11,268	1,454
	Dow Inc.	35,043	1,416
	PPG Industries Inc.	10,970	1,146
	Ball Corp.	15,093	1,063
	Fastenal Co.	26,288	900
	LyondellBasell Industries NV	12,440	889
	Vulcan Materials Co.	6,139	738
	International Paper Co.	18,300	676
	Freeport-McMoRan Inc.	67,674	674
	Martin Marietta Materials Inc.	2,918	664
	International Flavors & Fragrances Inc.	4,992	598
	Nucor Corp.	14,256	589
	FMC Corp.	6,043	563
	Masco Corp.	13,350	552
	Celanese Corp.	5,645	529
	Arconic Inc.	17,981	528
	Avery Dennison Corp.	3,886	445
*	Crown Holdings Inc.	6,108	431
	Albemarle Corp.	4,889	400
	Packaging Corp. of America	4,376	397
	Westrock Co.	11,900	396
	Eastman Chemical Co.	6,392	393
	RPM International Inc.	5,983	384
	Lennox International Inc.	1,646	375
	CF Industries Holdings Inc.	10,162	375
	Reliance Steel & Aluminum Co.	3,028	310
	AptarGroup Inc.	3,002	303

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Royal Gold Inc.	3,044	294
	Owens Corning	5,046	285
	Mosaic Co.	16,160	275
*	Trex Co. Inc.	2,753	263
	Hexcel Corp.	3,981	257
	Steel Dynamics Inc.	9,615	256
	MDU Resources Group Inc.	9,229	256
	AO Smith Corp.	6,309	249
*	Axalta Coating Systems Ltd.	9,658	241
	Watsco Inc.	1,520	239
*	Berry Global Group Inc.	6,127	233
	Armstrong World Industries Inc.	2,299	230
	Sonoco Products Co.	4,658	225
	Sealed Air Corp.	7,229	219
	Ashland Global Holdings Inc.	2,833	203
	Scotts Miracle-Gro Co.	1,855	197
*	RBC Bearings Inc.	1,139	195
	Acuity Brands Inc.	1,865	192
	Huntsman Corp.	10,080	191
	Cabot Microelectronics Corp.	1,359	189
	Graphic Packaging Holding Co.	13,593	184
	Simpson Manufacturing Co. Inc.	2,105	167
	Louisiana-Pacific Corp.	5,515	157
	Eagle Materials Inc.	1,967	155
	WR Grace & Co.	2,689	152
	Rexnord Corp.	4,965	145
	Balchem Corp.	1,513	143
	Timken Co.	3,098	139
*	Univar Solutions Inc.	7,915	134
	Southern Copper Corp.	3,918	132
	Universal Forest Products Inc.	2,803	131
	NewMarket Corp.	321	125
*	Builders FirstSource Inc.	5,342	121
	Olin Corp.	7,441	120
*	Alcoa Corp.	8,613	119
	Valmont Industries Inc.	1,010	117
	Chemours Co.	7,739	115
*	Element Solutions Inc.	10,324	107
	Silgan Holdings Inc.	3,662	105
	AAON Inc.	1,900	104
*	Summit Materials Inc.	5,300	104
	PolyOne Corp.	4,172	103
	Commercial Metals Co.	5,554	101
	Innospec Inc.	1,143	99
	Sensient Technologies Corp.	1,994	98
	Cabot Corp.	2,619	98
	Quaker Chemical Corp.	619	98
*	Beacon Roofing Supply Inc.	3,202	95
	HB Fuller Co.	2,400	94
	Westlake Chemical Corp.	1,670	93
	Compass Minerals International Inc.	1,624	89
*	Ingevity Corp.	1,966	89
	Advanced Drainage Systems Inc.	2,038	85
	Stepan Co.	966	85
*	Masonite International Corp.	1,147	84
*	Novagold Resources Inc.	10,529	84
	Carpenter Technology Corp.	2,228	82
	O-I Glass Inc.	7,403	80
	Mueller Water Products Inc.	7,195	79
	Domtar Corp.	2,680	77
*	BMC Stock Holdings Inc.	3,079	75
*	Gibraltar Industries Inc.	1,477	75
	Mueller Industries Inc.	2,640	74
	Cleveland-Cliffs Inc.	12,647	73

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
	Belden Inc.	1,840	73
	Comfort Systems USA Inc.	1,714	72
	Minerals Technologies Inc.	1,604	72
*	Installed Building Products Inc.	1,077	71
	Kaiser Aluminum Corp.	743	70
	Boise Cascade Co.	1,807	64
	United States Steel Corp.	7,833	63
*	Livent Corp.	6,847	61
	Hecla Mining Co.	22,906	60
	Worthington Industries Inc.	1,850	59
*	JELD-WEN Holding Inc.	3,115	59
	Greif Inc. Class A	1,552	55
	Patrick Industries Inc.	1,016	54
	Schweitzer-Mauduit International Inc.	1,444	49
*	GCP Applied Technologies Inc.	2,435	47
*	Coeur Mining Inc.	11,094	46
*	Ferro Corp.	3,920	46
	Neenah Inc.	777	45
	Materion Corp.	932	42
*	GMS Inc.	1,835	42
*	PGT Innovations Inc.	2,606	40
	Trinseo SA	1,795	39
	Orion Engineered Carbons SA	2,726	39
	Apogee Enterprises Inc.	1,177	36
*	AK Steel Holding Corp.	14,373	33
*	MRC Global Inc.	3,641	32
	Tronox Holdings plc Class A	4,176	31
	Chase Corp.	336	30
	Griffon Corp.	1,686	29
	PH Glatfelter Co.	1,961	28
*	Verso Corp.	1,573	26
	Quanex Building Products Corp.	1,466	25
	GrafTech International Ltd.	2,921	24
*	PQ Group Holdings Inc.	1,714	23
	Tredegar Corp.	1,263	22
	Myers Industries Inc.	1,529	21
*	US Concrete Inc.	771	21
*	Clearwater Paper Corp.	748	20
*	OMNOVA Solutions Inc.	1,998	20
	American Vanguard Corp.	1,302	20
	Schnitzer Steel Industries Inc.	1,198	20
*	Koppers Holdings Inc.	897	20
*	AdvanSix Inc.	1,257	18
	Insteel Industries Inc.	854	17
	Hawkins Inc.	454	16
	Ardagh Group SA	885	15
	US Silica Holdings Inc.	3,365	15
*	Cornerstone Building Brands Inc.	2,074	15
*	Unifi Inc.	712	15
*	UFP Technologies Inc.	307	15
	NN Inc.	1,893	15
*	Foundation Building Materials Inc.	935	15
*	Century Aluminum Co.	2,407	14
*	Kraton Corp.	1,372	14
	Haynes International Inc.	543	14
*	Forterra Inc.	999	13
*	Northwest Pipe Co.	399	13
	FutureFuel Corp.	1,191	12
*	Landec Corp.	1,164	12
	Caesarstone Ltd.	1,004	11
	Kronos Worldwide Inc.	1,086	11
	Omega Flex Inc.	131	10
	Gold Resource Corp.	2,491	10
*	TimkenSteel Corp.	1,849	9

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000)
*	Amyris Inc.	2,724	9
	United States Lime & Minerals Inc.	102	8
*	Intrepid Potash Inc.	4,576	8
*	LB Foster Co.	495	8
*	Lawson Products Inc.	194	8
	Eastern Co.	272	7
	Oil-Dri Corp. of America	226	7
*	Ryerson Holding Corp.	795	7
*	Veritiv Corp.	533	6
	Olympic Steel Inc.	514	6
	Rayonier Advanced Materials Inc.	2,304	6
*	Uranium Energy Corp.	8,412	5
*	BlueLinx Holdings Inc.	402	5
^{*,^}	Energy Fuels Inc.	3,791	4
	Culp Inc.	488	4
*	Synalloy Corp.	383	4
*	Concrete Pumping Holdings Inc.	795	4
*	Marrone Bio Innovations Inc.	3,470	4
*	LSB Industries Inc.	1,010	2
			43,199
Other (0.0%)¹
	PPD Inc.	494	14
*	Reynolds Consumer Products Inc.	374	11
^*,§	Tobira Therapeutics CVR Exp. 12/31/2028	937	4
*	Arcutis Biotherapeutics Inc.	159	4
	Schrodinger Inc.	40	2
	Passage Bio Inc.	41	1
^*,§	A Schulman Inc. CVR	1,117	1
^*,§	NewStar Financial Inc. CVR	943	—
^*,§	Media General Inc. CVR	5,133	—
^*,§	Corium CVR	985	—
^*,§	Aratana Therapeutics Inc. CVR Exp. 02/29/2020	1,951	—
^*,§	Omthera Pharmeceuticals Rights	152	—
^*,§	Clinical Data CVR	32	—
			37
Producer Durables (9.6%)
	Boeing Co.	24,786	6,819
	Honeywell International Inc.	33,621	5,452
	Accenture plc Class A	29,800	5,382
	Union Pacific Corp.	32,532	5,199
	United Technologies Corp.	37,918	4,952
	General Electric Co.	404,213	4,398
	Lockheed Martin Corp.	11,594	4,288
	3M Co.	26,142	3,901
	Automatic Data Processing Inc.	20,320	3,144
	Caterpillar Inc.	25,027	3,109
	United Parcel Service Inc.	32,657	2,955
	Illinois Tool Works Inc.	14,986	2,514
	Raytheon Co.	13,080	2,466
	CSX Corp.	34,813	2,453
	Northrop Grumman Corp.	7,399	2,433
	Deere & Co.	14,719	2,303
	Norfolk Southern Corp.	12,157	2,217
	Waste Management Inc.	19,864	2,201
	General Dynamics Corp.	11,914	1,903
	Emerson Electric Co.	28,595	1,833
	Eaton Corp. plc	19,252	1,747
	Roper Technologies Inc.	4,784	1,683
	FedEx Corp.	11,300	1,595
	Johnson Controls International plc	36,233	1,325
	TransDigm Group Inc.	2,294	1,280
	Delta Air Lines Inc.	26,775	1,235
	Paychex Inc.	14,972	1,160
	Verisk Analytics Inc.	7,463	1,158

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*	CoStar Group Inc.	1,683	1,124
	Parker-Hannifin Corp.	5,927	1,095
	PACCAR Inc.	15,859	1,061
	Cummins Inc.	6,964	1,054
	Cintas Corp.	3,886	1,037
	Southwest Airlines Co.	22,140	1,023
	Stanley Black & Decker Inc.	7,077	1,017
	Rockwell Automation Inc.	5,384	988
	Fortive Corp.	13,810	955
	AMETEK Inc.	10,638	915
	Republic Services Inc.	9,826	887
*	Keysight Technologies Inc.	8,770	831
*	Copart Inc.	9,410	795
*	Mettler-Toledo International Inc.	1,124	789
	Kansas City Southern	4,623	697
	Dover Corp.	6,778	696
*	United Airlines Holdings Inc.	10,831	667
	Xylem Inc.	8,380	648
	Old Dominion Freight Line Inc.	3,041	589
*	Waters Corp.	2,989	583
	Westinghouse Air Brake Technologies Corp.	8,404	577
	Expeditors International of Washington Inc.	7,997	563
*	Teledyne Technologies Inc.	1,669	563
	Jacobs Engineering Group Inc.	6,084	562
	WW Grainger Inc.	2,023	561
*	Zebra Technologies Corp.	2,497	527
	IDEX Corp.	3,531	523
	Allegion plc	4,341	499
*	Trimble Inc.	11,803	466
*	United Rentals Inc.	3,510	465
	Booz Allen Hamilton Holding Corp.	6,396	456
	Textron Inc.	10,814	439
	CH Robinson Worldwide Inc.	6,306	434
	Nordson Corp.	2,682	390
	Huntington Ingalls Industries Inc.	1,866	383
	Carlisle Cos. Inc.	2,635	383
	JB Hunt Transport Services Inc.	3,964	382
	Graco Inc.	7,730	381
	Snap-on Inc.	2,539	367
	Toro Co.	4,921	351
	American Airlines Group Inc.	18,351	350
	Genpact Ltd.	8,760	337
	Hubbell Inc.	2,526	337
*	Aecom	7,246	326
*	XPO Logistics Inc.	4,273	316
	HEICO Corp. Class A	3,547	313
	Pentair plc	7,792	307
*	Sensata Technologies Holding plc	7,310	298
*	HD Supply Holdings Inc.	7,753	295
*	Generac Holdings Inc.	2,859	294
*	Middleby Corp.	2,609	292
	Alaska Air Group Inc.	5,627	284
	Xerox Holdings Corp.	8,383	270
	Robert Half International Inc.	5,296	267
	FLIR Systems Inc.	6,275	266
	Donaldson Co. Inc.	5,898	266
	Woodward Inc.	2,561	264
	Spirit AeroSystems Holdings Inc.	4,804	254
	Quanta Services Inc.	6,564	250
	National Instruments Corp.	6,114	246
	ITT Inc.	4,081	245
	Flowserve Corp.	6,107	245
	BWX Technologies Inc.	4,469	245
	Curtiss-Wright Corp.	2,000	240

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*	Stericycle Inc.	4,158	239
	Oshkosh Corp.	3,178	229
	Lincoln Electric Holdings Inc.	2,738	224
*	JetBlue Airways Corp.	13,478	213
*	Paylocity Holding Corp.	1,612	209
	ManpowerGroup Inc.	2,743	208
*	Axon Enterprise Inc.	2,687	208
	Allison Transmission Holdings Inc.	5,104	207
	Tetra Tech Inc.	2,555	207
*	Gardner Denver Holdings Inc.	6,208	204
	EMCOR Group Inc.	2,609	201
	MSA Safety Inc.	1,646	200
	HEICO Corp.	1,849	199
*	Darling Ingredients Inc.	7,695	198
*	FTI Consulting Inc.	1,741	196
	Air Lease Corp.	4,905	188
	MAXIMUS Inc.	2,964	187
	Landstar System Inc.	1,849	187
	Knight-Swift Transportation Holdings Inc.	5,804	185
	Brink's Co.	2,301	180
	Exponent Inc.	2,414	178
	AGCO Corp.	2,925	177
	Littelfuse Inc.	1,102	176
*	Kirby Corp.	2,759	176
	KBR Inc.	6,627	172
	nVent Electric plc	7,131	171
*	Aerojet Rocketdyne Holdings Inc.	3,427	169
*	Clean Harbors Inc.	2,428	169
	Crane Co.	2,360	160
*	TopBuild Corp.	1,561	158
	Regal Beloit Corp.	1,910	148
*	Colfax Corp.	4,385	147
	John Bean Technologies Corp.	1,465	142
*	MasTec Inc.	2,803	138
	Macquarie Infrastructure Corp.	3,445	135
	UniFirst Corp.	709	132
	MSC Industrial Direct Co. Inc. Class A	2,053	127
	EnerSys	2,013	124
	Copa Holdings SA	1,478	123
*	Itron Inc.	1,613	122
*	ASGN Inc.	2,400	122
	Watts Water Technologies Inc.	1,295	122
	Barnes Group Inc.	2,230	120
*	ExlService Holdings Inc.	1,592	119
	GATX Corp.	1,645	118
	Insperity Inc.	1,746	117
	Moog Inc.	1,514	117
*	Advanced Disposal Services Inc.	3,384	112
*	Proto Labs Inc.	1,275	112
	Franklin Electric Co. Inc.	2,150	111
	ESCO Technologies Inc.	1,219	111
*	TriNet Group Inc.	2,091	111
	Kennametal Inc.	3,871	108
*	Advanced Energy Industries Inc.	1,800	107
*	Saia Inc.	1,218	106
	Brady Corp. Class A	2,240	106
*	Casella Waste Systems Inc.	2,181	106
	SkyWest Inc.	2,312	105
	Applied Industrial Technologies Inc.	1,762	104
	ABM Industries Inc.	3,133	103
*	Allegheny Technologies Inc.	5,930	101
	Healthcare Services Group Inc.	3,536	97
*	Chart Industries Inc.	1,692	96
	Trinity Industries Inc.	4,714	96

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	Herman Miller Inc.	2,764	95
	Ryder System Inc.	2,471	94
	Korn Ferry	2,662	93
	Albany International Corp.	1,447	93
	Altra Industrial Motion Corp.	3,069	92
*	Spirit Airlines Inc.	3,224	92
	Otter Tail Corp.	1,872	91
	Triton International Ltd.	2,544	87
*	SPX Corp.	2,058	86
*	Navistar International Corp.	2,306	84
	Allegiant Travel Co.	610	83
	Federal Signal Corp.	2,814	82
*	Welbilt Inc.	6,149	81
	Mobile Mini Inc.	2,079	81
	Cubic Corp.	1,470	80
	Hillenbrand Inc.	3,417	80
	McGrath RentCorp	1,150	80
*	WESCO International Inc.	1,961	80
	Badger Meter Inc.	1,317	79
	Forward Air Corp.	1,334	79
*	Atkore International Group Inc.	2,125	78
	Aircastle Ltd.	2,408	77
	Covanta Holding Corp.	5,564	74
	Kaman Corp.	1,320	73
	Werner Enterprises Inc.	2,158	72
*	SPX FLOW Inc.	1,923	71
*	Hub Group Inc.	1,524	70
*	Kratos Defense & Security Solutions Inc.	4,251	69
	Matson Inc.	2,037	68
	HNI Corp.	2,031	67
	ICF International Inc.	867	66
	Deluxe Corp.	1,956	65
	Terex Corp.	2,935	65
	Steelcase Inc.	3,970	64
*	OSI Systems Inc.	782	64
*	Resideo Technologies Inc.	5,805	62
*	CBIZ Inc.	2,375	62
	Fluor Corp.	6,624	62
*	Huron Consulting Group Inc.	1,015	60
	Tennant Co.	830	59
*	Enerpac Tool Group Corp. Class A	2,587	55
*	Sykes Enterprises Inc.	1,738	55
*	TriMas Corp.	2,162	55
	AAR Corp.	1,586	55
	Helios Technologies Inc.	1,339	53
	Rush Enterprises Inc. Class A	1,239	52
*	AeroVironment Inc.	1,002	51
	EnPro Industries Inc.	946	51
	Alamo Group Inc.	442	49
	Lindsay Corp.	490	49
*	Air Transport Services Group Inc.	2,693	48
	US Ecology Inc.	1,130	48
	Raven Industries Inc.	1,650	47
	Kadant Inc.	518	47
*	Plug Power Inc.	10,644	46
	SFL Corp. Ltd.	3,796	46
	Encore Wire Corp.	940	46
	Schneider National Inc.	2,558	46
	Mesa Laboratories Inc.	190	45
	CSW Industrials Inc.	688	45
*	FARO Technologies Inc.	788	45
	Douglas Dynamics Inc.	1,028	45
	Hawaiian Holdings Inc.	2,141	45
*	Harsco Corp.	3,709	44

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	AZZ Inc.	1,203	44
	Triumph Group Inc.	2,304	44
	Granite Construction Inc.	2,152	44
	Scorpio Tankers Inc.	2,103	42
*	Herc Holdings Inc.	1,127	41
*	Dycom Industries Inc.	1,396	41
	Astec Industries Inc.	1,058	40
	Knoll Inc.	2,226	39
*	SP Plus Corp.	1,068	39
	Primoris Services Corp.	1,989	38
	Heartland Express Inc.	2,057	37
	Greenbrier Cos. Inc.	1,488	36
	H&E Equipment Services Inc.	1,513	36
	Standex International Corp.	562	36
	Marten Transport Ltd.	1,818	36
	ACCO Brands Corp.	4,402	35
*	Vicor Corp.	807	35
	MTS Systems Corp.	831	33
	Columbus McKinnon Corp.	1,069	33
*	CIRCOR International Inc.	903	32
	ADT Inc.	4,878	31
*	SEACOR Holdings Inc.	799	30
*	Atlas Air Worldwide Holdings Inc.	1,041	28
	Kforce Inc.	908	28
*	Vectrus Inc.	527	27
	Argan Inc.	655	27
*	Great Lakes Dredge & Dock Corp.	2,813	27
*	Thermon Group Holdings Inc.	1,534	27
*	TrueBlue Inc.	1,778	26
	Kimball International Inc.	1,634	26
*	Conduent Inc.	8,052	26
	Wabash National Corp.	2,381	26
	Pitney Bowes Inc.	7,593	26
*	Tutor Perini Corp.	1,778	26
*	NV5 Global Inc.	481	26
	TTEC Holdings Inc.	677	25
	Gorman-Rupp Co.	790	25
	Kelly Services Inc.	1,494	25
*	Aegion Corp.	1,362	25
*	Echo Global Logistics Inc.	1,313	24
*	CryoPort Inc.	1,449	24
	Spartan Motors Inc.	1,625	24
*	Tidewater Inc.	1,721	24
	ArcBest Corp.	1,190	24
*	Ducommun Inc.	513	23
	Ennis Inc.	1,139	23
	DHT Holdings Inc.	4,101	23
	Hyster-Yale Materials Handling Inc.	469	23
*	International Seaways Inc.	1,133	23
*	Gates Industrial Corp. plc	2,014	21
*	DXP Enterprises Inc.	725	21
	Barrett Business Services Inc.	343	21
*	BrightView Holdings Inc.	1,463	20
*	Astronics Corp.	1,006	20
*	Textainer Group Holdings Ltd.	2,442	20
	Nordic American Tankers Ltd.	6,236	20
	Heidrick & Struggles International Inc.	885	20
*	Manitowoc Co. Inc.	1,566	20
*	Heritage-Crystal Clean Inc.	723	19
*	Forrester Research Inc.	522	19
*	Team Inc.	1,463	19
*	MYR Group Inc.	730	19
	Luxfer Holdings plc	1,163	18
	Teekay Tankers Ltd. Class A	1,074	18

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*	CAI International Inc.	709	18
	Resources Connection Inc.	1,356	17
	Hackett Group Inc.	1,097	17
*	Modine Manufacturing Co.	2,245	17
*	Sterling Construction Co. Inc.	1,217	17
*	Energy Recovery Inc.	1,662	16
*	Construction Partners Inc. Class A	884	15
	Miller Industries Inc.	503	15
	Costamare Inc.	2,282	15
	CRA International Inc.	313	15
*	Willis Lease Finance Corp.	253	14
*	Willdan Group Inc.	461	14
*	Dorian LPG Ltd.	1,258	14
	Powell Industries Inc.	401	13
*	Vishay Precision Group Inc.	454	12
*	Blue Bird Corp.	687	12
	Allied Motion Technologies Inc.	318	12
	Park Aerospace Corp.	830	12
*	Teekay Corp.	3,070	11
	Systemax Inc.	528	11
	REV Group Inc.	1,390	11
	VSE Corp.	369	11
	GasLog Ltd.	1,927	11
*	Arlo Technologies Inc.	3,179	10
*	Lydall Inc.	872	10
*	Diamond S Shipping Inc.	978	10
	Rush Enterprises Inc. Class B	239	10
	Park-Ohio Holdings Corp.	406	10
*	Napco Security Technologies Inc.	479	10
*	Transcat Inc.	315	9
*	CECO Environmental Corp.	1,327	9
	Hurco Cos. Inc.	306	9
*	Titan Machinery Inc.	818	8
	Scorpio Bulkers Inc.	2,507	8
*	IES Holdings Inc.	339	8
*	American Superconductor Corp.	1,127	8
	Ardmore Shipping Corp.	1,377	8
*	Radiant Logistics Inc.	1,707	7
	Graham Corp.	452	7
	Quad/Graphics Inc.	1,561	7
*	Mistras Group Inc.	907	7
*	Target Hospitality Corp.	1,517	7
	BG Staffing Inc.	449	7
*	Commercial Vehicle Group Inc.	1,582	7
	Preformed Line Products Co.	141	7
	RR Donnelley & Sons Co.	3,470	7
*	GP Strategies Corp.	588	7
	Advanced Emissions Solutions Inc.	726	6
	Genco Shipping & Trading Ltd.	831	6
*	Eagle Bulk Shipping Inc.	1,875	6
	Briggs & Stratton Corp.	1,927	6
*	Covenant Transportation Group Inc.	501	6
	Universal Logistics Holdings Inc.	391	6
*	InnerWorkings Inc.	1,898	6
*	StarTek Inc.	936	6
*	Mesa Air Group Inc.	961	6
*	Daseke Inc.	1,655	5
*	Information Services Group Inc.	1,668	5
	Titan International Inc.	2,357	5
*	DHI Group Inc.	2,292	5
*	Overseas Shipholding Group Inc. Class A	3,028	5
*	Liquidity Services Inc.	1,227	5
*	Gencor Industries Inc.	426	4
*	US Xpress Enterprises Inc.	991	4

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*	EVI Industries Inc.	183	4
*	PRGX Global Inc.	1,083	4
*	Twin Disc Inc.	473	4
*	Wrap Technologies Inc.	558	3
*	YRC Worldwide Inc.	1,491	3
*	Safe Bulkers Inc.	2,359	3
^{*,^}	Energous Corp.	1,969	3
*	PAM Transportation Services Inc.	68	3
*	Mayville Engineering Co. Inc.	367	3
	Roadrunner Transportation Systems Inc.	298	2
			131,042
Technology (23.9%)
	Microsoft Corp.	353,966	57,346
	Apple Inc.	208,053	56,873
*	Facebook Inc.	111,839	21,526
*	Alphabet Inc. Class C	14,036	18,799
*	Alphabet Inc. Class A	14,007	18,759
	Intel Corp.	203,807	11,315
	Cisco Systems Inc.	200,515	8,007
*	Adobe Inc.	22,772	7,859
	NVIDIA Corp.	27,309	7,375
*	salesforce.com Inc.	38,840	6,618
	International Business Machines Corp.	41,559	5,409
	Texas Instruments Inc.	43,825	5,002
	Broadcom Inc.	18,088	4,931
	Oracle Corp.	95,944	4,745
	QUALCOMM Inc.	53,371	4,179
	Intuit Inc.	11,602	3,084
*	ServiceNow Inc.	8,677	2,829
*	Micron Technology Inc.	51,650	2,715
	Applied Materials Inc.	43,047	2,502
*	Advanced Micro Devices Inc.	48,211	2,193
	Activision Blizzard Inc.	35,384	2,057
	L3Harris Technologies Inc.	10,314	2,039
	Lam Research Corp.	6,731	1,975
*	Autodesk Inc.	10,242	1,955
	Analog Devices Inc.	17,157	1,871
	Cognizant Technology Solutions Corp.	25,747	1,569
	HP Inc.	69,404	1,443
*	Electronic Arts Inc.	13,574	1,376
	Motorola Solutions Inc.	7,980	1,322
*	Workday Inc.	7,578	1,313
	IHS Markit Ltd.	18,345	1,307
	Amphenol Corp. Class A	13,513	1,239
*	Twitter Inc.	35,522	1,179
	KLA Corp.	7,452	1,145
*	Splunk Inc.	7,193	1,060
	Xilinx Inc.	11,895	993
	Microchip Technology Inc.	10,814	981
*	Synopsys Inc.	6,976	962
*	ANSYS Inc.	3,909	947
*	VeriSign Inc.	4,849	920
*	Cadence Design Systems Inc.	13,018	861
	Corning Inc.	35,427	845
*	RingCentral Inc.	3,484	821
*	Palo Alto Networks Inc.	4,437	819
	Skyworks Solutions Inc.	7,962	798
*	Atlassian Corp. plc Class A	5,494	796
	Hewlett Packard Enterprise Co.	61,251	783
	Western Digital Corp.	13,930	774
	CDW Corp.	6,673	762
*	IAC/InterActiveCorp	3,475	709
	Maxim Integrated Products Inc.	12,687	706
*	Fortinet Inc.	6,692	683

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	Marvell Technology Group Ltd.	31,045	661
*	Paycom Software Inc.	2,307	652
*	Twilio Inc.	5,734	646
*	Akamai Technologies Inc.	7,412	641
	Leidos Holdings Inc.	6,240	641
*	Okta Inc.	4,903	628
*	DocuSign Inc. Class A	7,256	626
	Citrix Systems Inc.	5,810	601
	SS&C Technologies Holdings Inc.	10,325	573
*	Take-Two Interactive Software Inc.	5,248	564
*	Tyler Technologies Inc.	1,793	562
*	GoDaddy Inc.	7,998	560
*	Qorvo Inc.	5,427	546
*	EPAM Systems Inc.	2,431	543
*	Arista Networks Inc.	2,768	535
*	Gartner Inc.	4,077	528
	NetApp Inc.	11,188	523
	NortonLifeLock Inc.	27,083	515
	Teradyne Inc.	7,808	459
*	Black Knight Inc.	6,740	450
*	Coupa Software Inc.	2,933	439
*	VMware Inc.	3,587	432
*	Guidewire Software Inc.	3,869	424
*	Zendesk Inc.	5,170	410
	Amdocs Ltd.	6,336	404
	Cypress Semiconductor Corp.	17,242	398
*	PTC Inc.	4,844	366
*	ON Semiconductor Corp.	19,020	355
*	F5 Networks Inc.	2,849	342
	Cognex Corp.	7,651	341
*	HubSpot Inc.	1,895	340
*	Aspen Technology Inc.	3,192	340
	Entegris Inc.	6,256	334
	Juniper Networks Inc.	15,514	329
	Universal Display Corp.	1,990	316
	Monolithic Power Systems Inc.	1,963	311
*	Ceridian HCM Holding Inc.	4,349	308
*	MongoDB Inc.	1,969	300
*	Alteryx Inc.	2,142	299
*	Nuance Communications Inc.	13,461	291
	DXC Technology Co.	11,971	289
*	Dell Technologies Inc.	7,072	286
*	CACI International Inc. Class A	1,143	280
*	Ciena Corp.	7,274	280
*	Lumentum Holdings Inc.	3,585	279
*	Proofpoint Inc.	2,606	278
*	Zynga Inc.	40,089	269
	CDK Global Inc.	5,660	260
	MKS Instruments Inc.	2,551	256
*	Arrow Electronics Inc.	3,782	254
	SYNNEX Corp.	1,918	240
*	RealPage Inc.	3,721	239
*	Tech Data Corp.	1,651	235
*	Cree Inc.	5,030	225
	Jabil Inc.	6,998	224
	Science Applications International Corp.	2,691	216
*	IPG Photonics Corp.	1,654	211
*	Grubhub Inc.	4,292	206
*	Five9 Inc.	2,804	205
*	Manhattan Associates Inc.	2,978	201
*	Dropbox Inc. Class A	9,966	195
	Dolby Laboratories Inc.	2,960	194
	LogMeIn Inc.	2,258	192
*	Smartsheet Inc. Class A	4,113	190

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	j2 Global Inc.	2,174	190
*	Nutanix Inc.	7,906	188
*	Avalara Inc.	2,215	188
*	Cirrus Logic Inc.	2,731	187
*	Mercury Systems Inc.	2,541	187
*	Anaplan Inc.	4,019	181
*	Silicon Laboratories Inc.	2,011	178
	Sabre Corp.	12,778	174
*	Envestnet Inc.	2,235	169
*	Verint Systems Inc.	3,070	168
*	Pure Storage Inc.	10,786	165
^{*,^}	Match Group Inc.	2,523	164
	Pegasystems Inc.	1,795	162
	Perspecta Inc.	6,488	162
*	Everbridge Inc.	1,528	161
*	Inphi Corp.	2,108	157
*	Dynatrace Inc.	4,859	157
	Blackbaud Inc.	2,288	155
*	Elastic NV	2,092	155
*	ViaSat Inc.	2,664	153
*	Q2 Holdings Inc.	2,024	153
*	Zscaler Inc.	2,929	152
*	NCR Corp.	5,974	151
*	ACI Worldwide Inc.	5,392	150
*	Coherent Inc.	1,132	146
	Avnet Inc.	4,683	144
*	Viavi Solutions Inc.	10,749	142
*	Novanta Inc.	1,587	142
*	Anixter International Inc.	1,432	140
*	New Relic Inc.	2,339	132
*	Blackline Inc.	2,045	128
*	II-VI Inc.	4,198	125
*	Qualys Inc.	1,551	124
*	FireEye Inc.	9,391	124
*	Semtech Corp.	3,083	122
*	Acacia Communications Inc.	1,773	121
	Power Integrations Inc.	1,341	117
	Vishay Intertechnology Inc.	6,224	116
	Brooks Automation Inc.	3,335	115
*	Box Inc.	6,738	113
*	LiveRamp Holdings Inc.	3,153	112
*	Varonis Systems Inc.	1,391	112
*	Cornerstone OnDemand Inc.	2,666	109
*	Rapid7 Inc.	2,292	106
*	Synaptics Inc.	1,596	105
*	Lattice Semiconductor Corp.	5,860	105
*	Teradata Corp.	5,211	104
*	Rogers Corp.	875	101
*	SailPoint Technologies Holding Inc.	3,955	100
*	Cloudera Inc.	11,224	100
*	CommScope Holding Co. Inc.	9,059	100
*	Yelp Inc.	3,156	99
	ManTech International Corp.	1,265	95
*	Fabrinet	1,705	94
*	Appfolio Inc.	750	92
*	Plexus Corp.	1,367	91
*	Verra Mobility Corp. Class A	5,941	90
*	Bottomline Technologies DE Inc.	2,012	89
*	Cargurus Inc.	3,488	89
*	Insight Enterprises Inc.	1,612	89
*	Ambarella Inc.	1,483	88
*	NetScout Systems Inc.	3,319	85
*	Diodes Inc.	1,928	85
*	SPS Commerce Inc.	1,609	85

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*	Sanmina Corp.	3,179	84
*	Alarm.com Holdings Inc.	1,710	83
*	EchoStar Corp.	2,328	81
*	CommVault Systems Inc.	1,898	79
	InterDigital Inc.	1,478	78
*	FormFactor Inc.	3,479	78
*	LivePerson Inc.	2,916	77
	Progress Software Corp.	2,042	76
*	Workiva Inc.	1,754	75
*	SVMK Inc.	4,046	74
*	Rambus Inc.	5,276	74
*	PROS Holdings Inc.	1,552	71
^{*,^}	Appian Corp. Class A	1,586	70
	CSG Systems International Inc.	1,563	69
	KEMET Corp.	2,636	69
*	Yext Inc.	4,396	67
*	Onto Innovation Inc.	2,162	66
*	Avaya Holdings Corp.	5,086	66
*	Inovalon Holdings Inc.	3,377	66
*	Knowles Corp.	3,837	64
*	ForeScout Technologies Inc.	1,953	64
*	Altair Engineering Inc.	1,814	63
*	iRobot Corp.	1,303	63
*	Perficient Inc.	1,482	61
*	TTM Technologies Inc.	4,637	60
*	Virtusa Corp.	1,325	58
*	Infinera Corp.	8,312	57
	Ubiquiti Inc.	410	56
	NIC Inc.	2,972	54
*	Pluralsight Inc. Class A	3,030	54
*	MACOM Technology Solutions Holdings Inc.	2,122	54
*	Zuora Inc. Class A	4,007	53
	Methode Electronics Inc.	1,679	51
*	MicroStrategy Inc.	376	51
*	3D Systems Corp.	5,423	50
*	Covetrus Inc.	4,413	49
*	Amkor Technology Inc.	4,618	48
*	MaxLinear Inc.	3,112	48
	Benchmark Electronics Inc.	1,724	47
*	ePlus Inc.	617	47
	AVX Corp.	2,135	46
*	Bandwidth Inc. Class A	717	45
*	Model N Inc.	1,538	45
	Maxar Technologies Inc.	2,879	44
	TiVo Corp.	5,667	43
*	Upland Software Inc.	1,101	43
*	Tenable Holdings Inc.	1,718	42
	Switch Inc.	2,801	40
*	PagerDuty Inc.	1,945	40
*	Glu Mobile Inc.	5,562	40
	Xperi Corp.	2,297	39
	CTS Corp.	1,493	39
	Cohu Inc.	1,891	39
*	Blucora Inc.	2,208	38
*	SolarWinds Corp.	2,081	38
*	Stratasys Ltd.	2,356	38
*	Ultra Clean Holdings Inc.	1,749	37
*	Photronics Inc.	2,909	36
*	Parsons Corp.	912	36
*	Vocera Communications Inc.	1,455	35
*	Unisys Corp.	2,278	35
*	Cerence Inc.	1,628	35
*	Axcelis Technologies Inc.	1,434	34
*	ScanSource Inc.	1,113	32

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	Comtech Telecommunications Corp.	1,112	31
*	Agilysys Inc.	951	31
*	Groupon Inc.	22,417	30
*	CEVA Inc.	1,012	29
*	Veeco Instruments Inc.	2,128	28
*	Ichor Holdings Ltd.	978	28
*	Extreme Networks Inc.	5,468	27
	Ebix Inc.	1,021	27
	QAD Inc.	543	27
*	Eventbrite Inc. Class A	1,747	26
*	OneSpan Inc.	1,545	26
*	nLight Inc.	1,541	25
*	Impinj Inc.	822	25
*	Rubicon Project Inc.	2,224	25
*	Limelight Networks Inc.	4,976	25
*	Telaria Inc.	2,023	25
*	Diebold Nixdorf Inc.	3,503	25
*	NETGEAR Inc.	1,294	24
*	TechTarget Inc.	1,050	24
*	Anterix Inc.	514	24
*	Harmonic Inc.	3,816	23
^{*,^}	GTT Communications Inc.	1,485	22
*	Upwork Inc.	2,581	22
	American Software Inc.	1,329	22
	Plantronics Inc.	1,589	22
*	Digital Turbine Inc.	3,443	21
	PC Connection Inc.	518	21
*	Tucows Inc.	412	21
*	Zix Corp.	2,643	21
*	PDF Solutions Inc.	1,354	20
*	Loral Space & Communications Inc.	620	19
	ADTRAN Inc.	2,287	18
	Simulations Plus Inc.	562	18
*	Calix Inc.	2,008	18
*	Medallia Inc.	721	18
*	MobileIron Inc.	4,265	17
*	VirnetX Holding Corp.	3,054	17
*	Benefitfocus Inc.	1,346	17
*	SMART Global Holdings Inc.	624	17
*	Meet Group Inc.	3,237	17
*	Mitek Systems Inc.	1,852	16
*	EverQuote Inc. Class A	396	16
*	Domo Inc.	762	16
*	Digi International Inc.	1,191	16
*	Brightcove Inc.	1,962	15
*	ShotSpotter Inc.	423	15
*	Ping Identity Holding Corp.	636	15
*	CalAmp Corp.	1,519	15
*	A10 Networks Inc.	2,146	14
*	Kimball Electronics Inc.	1,060	14
*	Adesto Technologies Corp.	1,166	14
*	DSP Group Inc.	1,029	14
*	Inseego Corp.	2,007	14
	NVE Corp.	217	14
*	PAR Technology Corp.	516	14
*	PlayAGS Inc.	1,339	13
*	TrueCar Inc.	4,870	13
*	Endurance International Group Holdings Inc.	3,209	12
*	ChannelAdvisor Corp.	1,206	11
*	Avid Technology Inc.	1,512	11
*	NeoPhotonics Corp.	1,689	11
*	Ooma Inc.	868	11
*	Intelligent Systems Corp.	300	11
*	GTY Technology Holdings Inc.	1,840	10

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*	Digimarc Corp.	492	10
*	Alpha & Omega Semiconductor Ltd.	864	9
*	comScore Inc.	2,626	9
*	Iteris Inc.	1,854	9
*	Immersion Corp.	1,279	9
*	Akoustis Technologies Inc.	1,231	9
*	Ribbon Communications Inc.	2,678	9
*	Telenav Inc.	1,416	8
*	Synchronoss Technologies Inc.	1,706	8
*	KVH Industries Inc.	798	8
	Daktronics Inc.	1,663	8
*	eGain Corp.	949	8
*	Applied Optoelectronics Inc.	793	7
*	AXT Inc.	1,968	7
*	Rimini Street Inc.	1,259	6
	Bel Fuse Inc.	501	6
*	SecureWorks Corp.	401	6
*	Clearfield Inc.	498	5
*	SharpSpring Inc.	464	5
*	GSI Technology Inc.	789	5
*	Acacia Research Corp.	2,278	5
*	Casa Systems Inc.	1,540	5
*	Airgain Inc.	511	4
*	DASAN Zhone Solutions Inc.	500	4
	AstroNova Inc.	321	3
*	Majesco	460	3
*	Leaf Group Ltd.	966	3
	TESSCO Technologies Inc.	402	2
*	Coda Octopus Group Inc.	337	2
*	Travelzoo	262	2
*	Phunware Inc.	1,984	2
*	Ideanomics Inc.	1,985	1
			326,625
Utilities (5.2%)
	AT&T Inc.	341,583	12,031
	Verizon Communications Inc.	193,755	10,494
	NextEra Energy Inc.	22,859	5,778
	Duke Energy Corp.	34,142	3,131
	Dominion Energy Inc.	38,503	3,010
	Southern Co.	48,740	2,942
	American Electric Power Co. Inc.	23,126	2,064
	Exelon Corp.	45,423	1,958
	Sempra Energy	13,211	1,847
	Xcel Energy Inc.	24,511	1,527
	WEC Energy Group Inc.	14,628	1,351
	Eversource Energy	15,152	1,310
*	T-Mobile US Inc.	14,520	1,309
	Consolidated Edison Inc.	15,633	1,232
	Public Service Enterprise Group Inc.	23,677	1,215
	FirstEnergy Corp.	25,065	1,116
	Edison International	16,415	1,103
	Entergy Corp.	9,284	1,085
	American Water Works Co. Inc.	8,451	1,045
	PPL Corp.	33,403	1,002
	DTE Energy Co.	8,691	970
	Ameren Corp.	11,450	905
	CMS Energy Corp.	13,244	800
	Evergy Inc.	10,638	695
	CenturyLink Inc.	51,028	616
	Alliant Energy Corp.	11,204	584
	Atmos Energy Corp.	5,457	563
	CenterPoint Energy Inc.	23,478	540
	AES Corp.	31,007	519
	NiSource Inc.	17,415	471

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
	Pinnacle West Capital Corp.	5,230	468
	Essential Utilities Inc.	10,072	433
	NRG Energy Inc.	11,791	392
*	PG&E Corp.	24,975	387
	Vistra Energy Corp.	19,769	380
*	Zayo Group Holdings Inc.	10,572	370
	OGE Energy Corp.	8,979	342
	UGI Corp.	9,346	337
*	GCI Liberty Inc. Class A	4,571	316
*	Sprint Corp.	27,018	248
	IDACORP Inc.	2,363	228
	Portland General Electric Co.	4,173	227
	Hawaiian Electric Industries Inc.	5,087	218
	Black Hills Corp.	2,850	206
	ONE Gas Inc.	2,450	201
	PNM Resources Inc.	3,734	176
	Spire Inc.	2,337	175
	ALLETE Inc.	2,423	167
	NorthWestern Corp.	2,356	166
	Southwest Gas Holdings Inc.	2,545	165
	New Jersey Resources Corp.	4,161	147
	Avista Corp.	3,093	146
	Cogent Communications Holdings Inc.	1,980	145
	National Fuel Gas Co.	3,855	141
	Avangrid Inc.	2,698	134
	American States Water Co.	1,719	132
	Ormat Technologies Inc.	1,869	130
	El Paso Electric Co.	1,893	128
*	Iridium Communications Inc.	4,686	127
	South Jersey Industries Inc.	4,393	119
	MGE Energy Inc.	1,654	118
	Pattern Energy Group Inc. Class A	4,168	113
	California Water Service Group	2,274	109
	Shenandoah Telecommunications Co.	2,275	101
*	Vonage Holdings Corp.	10,674	96
	Telephone & Data Systems Inc.	4,744	96
	Northwest Natural Holding Co.	1,388	91
*	8x8 Inc.	4,416	82
	SJW Group	1,248	76
*	Evoqua Water Technologies Corp.	3,562	75
	Clearway Energy Inc.	3,521	74
	TerraForm Power Inc.	3,620	68
	Chesapeake Utilities Corp.	783	67
	Middlesex Water Co.	740	44
	Unitil Corp.	677	38
	Clearway Energy Inc. Class A	1,550	31
	ATN International Inc.	521	28
*	Cincinnati Bell Inc.	2,100	27
*	Boingo Wireless Inc.	2,045	26
	York Water Co.	583	25
*	United States Cellular Corp.	720	23
	Consolidated Communications Holdings Inc.	3,248	20
*	AquaVenture Holdings Ltd.	650	18
	Artesian Resources Corp.	356	12
*	ORBCOMM Inc.	3,564	12
*	Intelsat SA	3,054	12
	Consolidated Water Co. Ltd.	712	11
*	Atlantic Power Corp.	4,607	10
	RGC Resources Inc.	351	10
	Spok Holdings Inc.	888	9
*	Pure Cycle Corp.	695	9
*	Gogo Inc.	2,291	8
*	IDT Corp.	759	6
	Genie Energy Ltd. Class B	824	6

Vanguard^® Russell 3000 Index Fund

Schedule of Investments

February 29, 2020

		Shares	Market Value ($000	)
*,^	Cadiz Inc.	628	5
	Spark Energy Inc.	617	5
			71,725
Total Common Stocks (Cost $1,100,278)			1,358,542

	Coupon
Temporary Cash Investments (0.6%)
Money Market Fund (0.5%)
2,3	Vanguard Market Liquidity Fund	1.706%	72,313	7,234

Maturity
Date

Face
Amount
($000

)

U.S. Government and Agency Obligations (0.1%)

United States Treasury Bill

1.527

4/30/20

400

399

Total Temporary Cash Investments (Cost $7,632)

7,633

Total Investments (99.9%) (Cost $1,107,910)

1,366,175

Other Assets and Liabilities—Net (0.1%)^3,4

1,214

Net Assets (100%)

1,367,389

Cost rounded to $000.
*	Non-income-producing security.
^	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $563,000.
§	Security value determined using significant unobservable inputs.
1	“Other” represents securities that are not classified by the fund's benchmark index.
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 $619,000 was received for securities on loan.
4	Securities with a value of $399,000 and cash of $10,000 has been segregated as initial margin for open futures contracts.
	CVR—Contingent Value Rights.
	REIT—Real Estate Investment Trust.

		© 2020 The Vanguard Group, Inc.
		All rights reserved.
		Vanguard Marketing Corporation, Distributor.

		SNA18542 042020

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
U.S. Government and Agency Obligations (0.6%)
U.S. Government Securities (0.6%)
	United States Treasury Note/Bond	1.375%	1/31/22	94,600	95,443
	United States Treasury Note/Bond	1.375%	2/15/23	50,875	51,607
	United States Treasury Note/Bond	1.125%	2/28/25	48,425	48,917
Total U.S. Government and Agency Obligations (Cost $195,080)					195,967
Corporate Bonds (98.6%)
Finance (42.0%)
	Banking (33.9%)
	Ally Financial Inc.	4.250%	4/15/21	7,978	8,204
	Ally Financial Inc.	4.125%	2/13/22	17,672	18,335
	Ally Financial Inc.	4.625%	5/19/22	1,797	1,887
	Ally Financial Inc.	3.875%	5/21/24	13,483	14,174
	Ally Financial Inc.	5.125%	9/30/24	11,945	13,214
	American Express Co.	3.375%	5/17/21	19,230	19,608
	American Express Co.	3.700%	11/5/21	30,673	31,834
	American Express Co.	2.750%	5/20/22	17,920	18,367
	American Express Co.	2.500%	8/1/22	37,860	38,713
	American Express Co.	2.650%	12/2/22	26,098	26,874
	American Express Co.	3.400%	2/27/23	24,632	25,873
	American Express Co.	3.700%	8/3/23	28,306	30,229
	American Express Co.	3.400%	2/22/24	18,703	20,030
	American Express Co.	2.500%	7/30/24	13,665	14,148
	American Express Co.	3.000%	10/30/24	16,182	17,096
	American Express Co.	3.625%	12/5/24	5,272	5,777
	American Express Credit Corp.	2.250%	5/5/21	25,972	26,161
	American Express Credit Corp.	2.700%	3/3/22	27,180	27,869
	Associated Bank Green Bay	3.500%	8/13/21	4,740	4,854
	Australia & New Zealand Banking Group Ltd.	3.300%	5/17/21	5,505	5,632
	Australia & New Zealand Banking Group Ltd.	2.300%	6/1/21	15,584	15,756
	Australia & New Zealand Banking Group Ltd.	2.550%	11/23/21	13,450	13,702
	Australia & New Zealand Banking Group Ltd.	2.625%	5/19/22	7,596	7,790
	Australia & New Zealand Banking Group Ltd.	2.625%	11/9/22	29,782	30,657
	Banco Santander SA	3.500%	4/11/22	16,950	17,508
	Banco Santander SA	3.125%	2/23/23	10,745	11,154
	Banco Santander SA	3.848%	4/12/23	11,929	12,626
	Banco Santander SA	2.706%	6/27/24	27,750	28,760
	Bancolombia SA	3.000%	1/29/25	11,800	11,825
	Bank of America Corp.	5.875%	1/5/21	6,246	6,480
	Bank of America Corp.	2.625%	4/19/21	30,185	30,562
	Bank of America Corp.	5.000%	5/13/21	466	486
	Bank of America Corp.	5.700%	1/24/22	4,974	5,372
1	Bank of America Corp.	3.499%	5/17/22	24,962	25,540
	Bank of America Corp.	2.503%	10/21/22	24,911	25,306
	Bank of America Corp.	3.300%	1/11/23	62,862	65,973
1	Bank of America Corp.	3.124%	1/20/23	33,621	34,552
1	Bank of America Corp.	2.881%	4/24/23	21,011	21,546
1	Bank of America Corp.	2.816%	7/21/23	43,424	44,564
	Bank of America Corp.	4.100%	7/24/23	35,583	38,411
	Bank of America Corp.	3.004%	12/20/23	100,112	103,681
	Bank of America Corp.	4.125%	1/22/24	47,657	51,802
1	Bank of America Corp.	3.550%	3/5/24	60,949	64,265
	Bank of America Corp.	4.000%	4/1/24	20,260	22,021
1	Bank of America Corp.	3.864%	7/23/24	41,215	43,971
	Bank of America Corp.	4.200%	8/26/24	30,754	33,698
	Bank of America Corp.	4.000%	1/22/25	56,022	60,872
1	Bank of America Corp.	3.458%	3/15/25	35,783	37,991
1	Bank of America Corp.	3.093%	10/1/25	31,750	33,394
1	Bank of America Corp.	2.456%	10/22/25	27,500	28,166
1	Bank of America Corp.	3.366%	1/23/26	29,875	31,864
1	Bank of America Corp.	2.015%	2/13/26	22,000	22,147
	Bank of America Corp.	3.500%	4/19/26	500	544

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
1	Bank of America NA	3.335%	1/25/23	300	310
	Bank of Montreal	3.100%	4/13/21	22,756	23,183
	Bank of Montreal	1.900%	8/27/21	31,044	31,177
	Bank of Montreal	2.900%	3/26/22	40,413	41,562
	Bank of Montreal	2.350%	9/11/22	17,539	17,924
	Bank of Montreal	2.050%	11/1/22	1,150	1,165
	Bank of Montreal	2.550%	11/6/22	9,303	9,552
	Bank of Montreal	3.300%	2/5/24	39,615	41,951
	Bank of Montreal	2.500%	6/28/24	15,239	15,735
1	Bank of Montreal	4.338%	10/5/28	6,394	6,858
	Bank of New York Mellon Corp.	2.500%	4/15/21	7,272	7,354
	Bank of New York Mellon Corp.	2.050%	5/3/21	23,958	24,107
	Bank of New York Mellon Corp.	3.550%	9/23/21	10,396	10,727
	Bank of New York Mellon Corp.	2.600%	2/7/22	29,339	29,954
	Bank of New York Mellon Corp.	1.950%	8/23/22	17,703	17,937
	Bank of New York Mellon Corp.	1.850%	1/27/23	7,699	7,762
	Bank of New York Mellon Corp.	2.950%	1/29/23	6,768	7,018
	Bank of New York Mellon Corp.	3.500%	4/28/23	12,653	13,457
1	Bank of New York Mellon Corp.	2.661%	5/16/23	28,005	28,624
	Bank of New York Mellon Corp.	3.450%	8/11/23	12,180	13,003
	Bank of New York Mellon Corp.	2.200%	8/16/23	18,343	18,718
	Bank of New York Mellon Corp.	3.650%	2/4/24	7,858	8,471
	Bank of New York Mellon Corp.	3.400%	5/15/24	21,001	22,510
	Bank of New York Mellon Corp.	3.250%	9/11/24	7,279	7,801
	Bank of New York Mellon Corp.	2.100%	10/24/24	13,789	14,120
	Bank of Nova Scotia	4.375%	1/13/21	14,383	14,733
	Bank of Nova Scotia	2.450%	3/22/21	17,961	18,126
	Bank of Nova Scotia	3.125%	4/20/21	14,547	14,811
	Bank of Nova Scotia	2.800%	7/21/21	17,382	17,733
	Bank of Nova Scotia	2.700%	3/7/22	33,390	34,120
	Bank of Nova Scotia	2.450%	9/19/22	10,635	10,916
	Bank of Nova Scotia	2.000%	11/15/22	8,500	8,626
	Bank of Nova Scotia	2.375%	1/18/23	2,416	2,485
	Bank of Nova Scotia	1.950%	2/1/23	16,075	16,234
	Bank of Nova Scotia	3.400%	2/11/24	10,176	10,803
	Bank of Nova Scotia	2.200%	2/3/25	22,100	22,507
1	Bank of Nova Scotia	4.650%	12/31/49	4,050	4,010
	Barclays Bank plc	2.650%	1/11/21	2	2
	Barclays Bank plc	3.750%	5/15/24	2,100	2,266
	Barclays plc	3.250%	1/12/21	20	20
	Barclays plc	3.200%	8/10/21	23,025	23,470
	Barclays plc	3.684%	1/10/23	19,140	19,731
1	Barclays plc	4.610%	2/15/23	34,705	36,435
1	Barclays plc	4.338%	5/16/24	32,799	34,833
	Barclays plc	4.375%	9/11/24	7,200	7,699
1	Barclays plc	3.932%	5/7/25	33,393	35,497
	BBVA USA	3.500%	6/11/21	8,360	8,552
	BBVA USA	2.875%	6/29/22	7,919	8,144
	BBVA USA	2.500%	8/27/24	14,555	14,836
	BNP Paribas SA	3.250%	3/3/23	13,265	13,891
	BNP Paribas SA	4.250%	10/15/24	12,904	13,992
	BPCE SA	2.750%	12/2/21	10,226	10,468
2	BPCE SA	3.000%	5/22/22	4,300	4,415
	BPCE SA	4.000%	4/15/24	29,071	31,656
	Canadian Imperial Bank of Commerce	2.550%	6/16/22	22,836	23,369
1	Canadian Imperial Bank of Commerce	2.606%	7/22/23	10,250	10,488
	Canadian Imperial Bank of Commerce	3.500%	9/13/23	16,080	17,163
	Canadian Imperial Bank of Commerce	3.100%	4/2/24	12,603	13,234
	Canadian Imperial Bank of Commerce	2.250%	1/28/25	16,550	16,885
1	Capital One Bank USA NA	2.014%	1/27/23	17,225	17,344
	Capital One Bank USA NA	3.375%	2/15/23	27,139	28,480
1	Capital One Bank USA NA	2.280%	1/28/26	12,980	13,195
	Capital One Financial Corp.	3.450%	4/30/21	13,098	13,360
	Capital One Financial Corp.	4.750%	7/15/21	22,879	23,863

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Capital One Financial Corp.	3.050%	3/9/22	17,289	17,777
	Capital One Financial Corp.	3.200%	1/30/23	9,724	10,119
	Capital One Financial Corp.	3.500%	6/15/23	29,229	30,889
	Capital One Financial Corp.	3.900%	1/29/24	9,460	10,140
	Capital One Financial Corp.	3.750%	4/24/24	8,635	9,246
	Capital One Financial Corp.	3.300%	10/30/24	16,594	17,579
	Capital One Financial Corp.	3.200%	2/5/25	16,755	17,689
	Capital One NA	2.950%	7/23/21	25,855	26,338
	Capital One NA	2.250%	9/13/21	9,420	9,513
	Capital One NA	2.650%	8/8/22	22,495	23,065
	Capital One NA	2.150%	9/6/22	22,780	23,023
	Citibank NA	3.400%	7/23/21	20,706	21,221
1	Citibank NA	2.844%	5/20/22	16,955	17,204
	Citibank NA	3.650%	1/23/24	30,540	32,882
	Citigroup Inc.	2.700%	3/30/21	47,426	47,840
	Citigroup Inc.	2.350%	8/2/21	35,404	35,778
	Citigroup Inc.	2.900%	12/8/21	50,737	51,803
	Citigroup Inc.	4.500%	1/14/22	34,679	36,544
	Citigroup Inc.	2.750%	4/25/22	29,088	29,767
	Citigroup Inc.	4.050%	7/30/22	9,185	9,684
	Citigroup Inc.	2.700%	10/27/22	23,044	23,606
1	Citigroup Inc.	2.312%	11/4/22	11,295	11,415
1	Citigroup Inc.	3.142%	1/24/23	45,769	46,998
	Citigroup Inc.	3.375%	3/1/23	7,180	7,536
	Citigroup Inc.	3.500%	5/15/23	15,013	15,752
1	Citigroup Inc.	2.876%	7/24/23	41,382	42,498
	Citigroup Inc.	3.875%	10/25/23	20,657	22,266
1	Citigroup Inc.	4.044%	6/1/24	21,646	23,088
	Citigroup Inc.	3.750%	6/16/24	10,575	11,452
	Citigroup Inc.	4.000%	8/5/24	13,005	14,118
1	Citigroup Inc.	3.352%	4/24/25	35,278	37,287
	Citizens Bank NA	2.550%	5/13/21	10,642	10,754
	Citizens Bank NA	3.250%	2/14/22	7,849	8,092
	Citizens Bank NA	2.650%	5/26/22	10,416	10,675
	Citizens Bank NA	3.700%	3/29/23	15,260	16,177
	Citizens Financial Group Inc.	2.375%	7/28/21	5,099	5,143
	Comerica Bank	2.500%	7/23/24	1,980	2,056
	Comerica Inc.	3.700%	7/31/23	16,432	17,563
	Commonwealth Bank of Australia	2.550%	3/15/21	8,025	8,119
2	Commonwealth Bank of Australia	2.750%	3/10/22	3,500	3,589
2	Commonwealth Bank of Australia	3.450%	3/16/23	4,000	4,229
2	Commonwealth Bank of Australia	3.350%	6/4/24	2,350	2,515
	Cooperatieve Rabobank UA	3.125%	4/26/21	9,150	9,327
	Cooperatieve Rabobank UA	2.750%	1/10/22	14,930	15,260
	Cooperatieve Rabobank UA	3.875%	2/8/22	54,503	57,056
	Cooperatieve Rabobank UA	3.950%	11/9/22	20,492	21,532
	Cooperatieve Rabobank UA	2.750%	1/10/23	19,995	20,748
	Cooperatieve Rabobank UA	4.625%	12/1/23	27,071	29,520
	Credit Suisse AG	3.000%	10/29/21	30,477	31,195
	Credit Suisse AG	2.100%	11/12/21	7,740	7,807
	Credit Suisse AG	3.625%	9/9/24	39,885	42,799
2	Credit Suisse Group AG	3.574%	1/9/23	13,675	14,114
	Credit Suisse Group Funding Guernsey Ltd.	3.125%	12/10/20	37,000	37,384
	Credit Suisse Group Funding Guernsey Ltd.	3.450%	4/16/21	37,606	38,331
	Credit Suisse Group Funding Guernsey Ltd.	3.800%	9/15/22	16,876	17,769
	Credit Suisse Group Funding Guernsey Ltd.	3.800%	6/9/23	17,704	18,782
	Deutsche Bank AG	3.150%	1/22/21	18,000	18,115
	Deutsche Bank AG	3.375%	5/12/21	2,085	2,117
	Deutsche Bank AG	3.375%	5/12/21	17,647	17,921
	Deutsche Bank AG	4.250%	10/14/21	45,922	47,379
	Deutsche Bank AG	5.000%	2/14/22	12,312	12,958
	Deutsche Bank AG	3.300%	11/16/22	22,730	23,200
	Deutsche Bank AG	3.950%	2/27/23	14,495	15,044
	Deutsche Bank AG	3.700%	5/30/24	3,953	4,137

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Deutsche Bank AG	3.700%	5/30/24	23,074	24,149
1	Deutsche Bank AG	3.961%	11/26/25	18,500	19,464
	Discover Bank	3.200%	8/9/21	6,717	6,838
	Discover Bank	3.350%	2/6/23	9,217	9,616
	Discover Bank	4.200%	8/8/23	23,312	25,012
	Discover Bank	2.450%	9/12/24	13,425	13,651
1	Discover Bank	4.682%	8/9/28	6,115	6,565
	Discover Financial Services	5.200%	4/27/22	7,371	7,926
	Discover Financial Services	3.850%	11/21/22	9,086	9,614
	Discover Financial Services	3.950%	11/6/24	5,783	6,269
	Fifth Third Bancorp	3.500%	3/15/22	11,899	12,357
	Fifth Third Bancorp	2.600%	6/15/22	8,698	8,921
	Fifth Third Bancorp	4.300%	1/16/24	13,498	14,634
	Fifth Third Bancorp	3.650%	1/25/24	24,926	26,684
	Fifth Third Bank	2.250%	6/14/21	18,514	18,699
	Fifth Third Bank	3.350%	7/26/21	10,282	10,568
	Fifth Third Bank	2.875%	10/1/21	14,744	15,078
	Fifth Third Bank	1.800%	1/30/23	9,600	9,688
	First Horizon National Corp.	3.500%	12/15/20	8,345	8,462
	First Republic Bank	2.500%	6/6/22	6,050	6,180
1	First Republic Bank	1.912%	2/12/24	5,750	5,825
	Goldman Sachs Group Inc.	2.600%	12/27/20	11,180	11,207
	Goldman Sachs Group Inc.	2.625%	4/25/21	11,648	11,769
	Goldman Sachs Group Inc.	5.250%	7/27/21	56,607	59,430
	Goldman Sachs Group Inc.	2.350%	11/15/21	30,369	30,439
	Goldman Sachs Group Inc.	5.750%	1/24/22	67,408	72,742
	Goldman Sachs Group Inc.	3.000%	4/26/22	38,165	38,724
1	Goldman Sachs Group Inc.	2.876%	10/31/22	52,779	53,807
	Goldman Sachs Group Inc.	3.625%	1/22/23	37,033	39,095
	Goldman Sachs Group Inc.	3.200%	2/23/23	24,923	26,060
1	Goldman Sachs Group Inc.	2.908%	6/5/23	34,305	35,200
1	Goldman Sachs Group Inc.	2.905%	7/24/23	50,088	51,553
	Goldman Sachs Group Inc.	3.625%	2/20/24	24,909	26,662
	Goldman Sachs Group Inc.	4.000%	3/3/24	31,200	33,826
	Goldman Sachs Group Inc.	3.850%	7/8/24	34,135	36,758
	Goldman Sachs Group Inc.	3.500%	1/23/25	54,205	57,753
1	Goldman Sachs Group Inc.	3.272%	9/29/25	25,125	26,499
	HSBC Holdings plc	3.400%	3/8/21	39,102	39,759
	HSBC Holdings plc	5.100%	4/5/21	33,894	35,161
	HSBC Holdings plc	2.950%	5/25/21	43,999	44,689
	HSBC Holdings plc	2.650%	1/5/22	41,115	41,804
	HSBC Holdings plc	4.875%	1/14/22	10,665	11,284
	HSBC Holdings plc	4.000%	3/30/22	16,415	17,162
1	HSBC Holdings plc	3.262%	3/13/23	41,822	43,057
	HSBC Holdings plc	3.600%	5/25/23	32,791	34,627
1	HSBC Holdings plc	3.033%	11/22/23	21,050	21,760
	HSBC Holdings plc	4.250%	3/14/24	30,926	33,247
1	HSBC Holdings plc	3.950%	5/18/24	29,009	30,717
1	HSBC Holdings plc	3.803%	3/11/25	75,913	80,956
1	HSBC Holdings plc	2.633%	11/7/25	12,195	12,445
	HSBC USA Inc.	3.500%	6/23/24	11,869	12,763
	Huntington Bancshares Inc.	7.000%	12/15/20	7,060	7,369
	Huntington Bancshares Inc.	3.150%	3/14/21	14,373	14,553
	Huntington Bancshares Inc.	2.300%	1/14/22	23,590	23,750
	Huntington Bancshares Inc.	2.625%	8/6/24	11,350	11,768
	Huntington National Bank	3.250%	5/14/21	7,893	8,051
	Huntington National Bank	3.125%	4/1/22	7,250	7,486
	Huntington National Bank	2.500%	8/7/22	2,450	2,510
	Huntington National Bank	1.800%	2/3/23	14,500	14,656
	Huntington National Bank	3.550%	10/6/23	9,877	10,535
	ING Groep NV	3.150%	3/29/22	25,280	26,082
	ING Groep NV	4.100%	10/2/23	15,482	16,721
	ING Groep NV	3.550%	4/9/24	21,930	23,359

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
2	Intesa Sanpaolo SPA	3.375%	1/12/23	2,800	2,887
	Intesa Sanpaolo SPA	5.250%	1/12/24	6,542	7,205
	JPMorgan Chase & Co.	2.550%	3/1/21	27,734	27,943
	JPMorgan Chase & Co.	4.625%	5/10/21	32,764	33,924
	JPMorgan Chase & Co.	2.400%	6/7/21	25,619	25,873
	JPMorgan Chase & Co.	2.295%	8/15/21	50,393	50,512
	JPMorgan Chase & Co.	4.350%	8/15/21	34,152	35,514
	JPMorgan Chase & Co.	4.500%	1/24/22	44,799	47,137
1	JPMorgan Chase & Co.	3.514%	6/18/22	27,997	28,684
	JPMorgan Chase & Co.	3.250%	9/23/22	37,235	38,897
	JPMorgan Chase & Co.	2.972%	1/15/23	47,018	48,282
	JPMorgan Chase & Co.	3.200%	1/25/23	31,245	32,561
1	JPMorgan Chase & Co.	3.207%	4/1/23	32,050	33,103
1	JPMorgan Chase & Co.	2.776%	4/25/23	25,348	25,969
	JPMorgan Chase & Co.	3.375%	5/1/23	35,976	37,704
	JPMorgan Chase & Co.	2.700%	5/18/23	33,092	34,230
	JPMorgan Chase & Co.	3.875%	2/1/24	15,426	16,649
1	JPMorgan Chase & Co.	3.559%	4/23/24	35,227	37,180
	JPMorgan Chase & Co.	3.625%	5/13/24	30,377	32,743
1	JPMorgan Chase & Co.	3.797%	7/23/24	20,909	22,372
	JPMorgan Chase & Co.	3.875%	9/10/24	35,008	38,007
1	JPMorgan Chase & Co.	4.023%	12/5/24	42,136	45,439
	JPMorgan Chase & Co.	3.125%	1/23/25	38,061	40,457
1	JPMorgan Chase & Co.	3.220%	3/1/25	41,240	43,584
1	JPMorgan Chase & Co.	2.301%	10/15/25	35,445	36,198
	JPMorgan Chase & Co.	4.125%	12/15/26	10,000	11,202
	KeyBank NA	3.350%	6/15/21	10,225	10,467
	KeyBank NA	2.500%	11/22/21	7,324	7,469
	KeyBank NA	3.300%	2/1/22	9,105	9,433
	KeyBank NA	2.400%	6/9/22	5,844	5,951
	KeyBank NA	2.300%	9/14/22	10,191	10,402
	KeyBank NA	3.375%	3/7/23	10,115	10,717
1	KeyBank NA	3.180%	10/15/27	4,275	4,410
	KeyCorp	5.100%	3/24/21	13,611	14,087
	Lloyds Bank plc	6.375%	1/21/21	14,860	15,510
	Lloyds Bank plc	3.300%	5/7/21	14,944	15,287
	Lloyds Bank plc	2.250%	8/14/22	4,367	4,437
	Lloyds Banking Group plc	3.100%	7/6/21	13,350	13,609
	Lloyds Banking Group plc	3.000%	1/11/22	22,245	22,755
1	Lloyds Banking Group plc	2.858%	3/17/23	32,500	33,167
	Lloyds Banking Group plc	4.050%	8/16/23	29,689	31,874
1	Lloyds Banking Group plc	2.907%	11/7/23	39,305	40,268
	Lloyds Banking Group plc	3.900%	3/12/24	14,990	16,105
	Lloyds Banking Group plc	4.500%	11/4/24	21,251	23,122
	M&T Bank Corp.	3.550%	7/26/23	8,833	9,467
	Manufacturers & Traders Trust Co.	2.625%	1/25/21	8,552	8,616
	Manufacturers & Traders Trust Co.	2.500%	5/18/22	9,408	9,604
	Manufacturers & Traders Trust Co.	2.900%	2/6/25	7,294	7,703
	Mitsubishi UFJ Financial Group Inc.	2.950%	3/1/21	23,774	24,115
	Mitsubishi UFJ Financial Group Inc.	3.535%	7/26/21	13,665	14,050
	Mitsubishi UFJ Financial Group Inc.	2.190%	9/13/21	21,300	21,498
	Mitsubishi UFJ Financial Group Inc.	2.998%	2/22/22	17,997	18,476
	Mitsubishi UFJ Financial Group Inc.	3.218%	3/7/22	14,750	15,218
	Mitsubishi UFJ Financial Group Inc.	2.623%	7/18/22	24,170	24,738
	Mitsubishi UFJ Financial Group Inc.	2.665%	7/25/22	30,342	31,080
	Mitsubishi UFJ Financial Group Inc.	3.455%	3/2/23	26,057	27,347
	Mitsubishi UFJ Financial Group Inc.	3.761%	7/26/23	44,977	48,061
	Mitsubishi UFJ Financial Group Inc.	2.527%	9/13/23	9,650	9,915
	Mitsubishi UFJ Financial Group Inc.	3.407%	3/7/24	37,640	39,956
	Mitsubishi UFJ Financial Group Inc.	2.801%	7/18/24	19,810	20,610
	Mitsubishi UFJ Financial Group Inc.	2.193%	2/25/25	25,000	25,261
	Mizuho Financial Group Inc.	2.273%	9/13/21	15,560	15,743
	Mizuho Financial Group Inc.	2.953%	2/28/22	20,973	21,537
	Mizuho Financial Group Inc.	2.601%	9/11/22	6,800	6,974

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Mizuho Financial Group Inc.	3.549%	3/5/23	18,162	19,201
1	Mizuho Financial Group Inc.	2.721%	7/16/23	13,080	13,342
1	Mizuho Financial Group Inc.	3.922%	9/11/24	23,370	24,993
1	Mizuho Financial Group Inc.	2.839%	7/16/25	14,060	14,543
1	Mizuho Financial Group Inc.	2.555%	9/13/25	8,975	9,159
	Morgan Stanley	5.750%	1/25/21	28	29
	Morgan Stanley	2.500%	4/21/21	48,119	48,597
	Morgan Stanley	5.500%	7/28/21	41,136	43,345
	Morgan Stanley	2.625%	11/17/21	55,197	56,220
	Morgan Stanley	2.750%	5/19/22	37,361	38,376
	Morgan Stanley	4.875%	11/1/22	29,920	32,338
	Morgan Stanley	3.125%	1/23/23	29,671	30,950
	Morgan Stanley	3.750%	2/25/23	42,237	44,903
	Morgan Stanley	4.100%	5/22/23	27,501	29,234
1	Morgan Stanley	3.737%	4/24/24	50,863	53,918
	Morgan Stanley	3.875%	4/29/24	51,508	55,979
	Morgan Stanley	3.700%	10/23/24	39,410	42,782
1	Morgan Stanley	2.720%	7/22/25	25,698	26,639
	Morgan Stanley	4.000%	7/23/25	6,815	7,558
	MUFG Americas Holdings Corp.	3.500%	6/18/22	3,475	3,630
	MUFG Americas Holdings Corp.	3.000%	2/10/25	11,741	12,406
	MUFG Union Bank NA	3.150%	4/1/22	24,370	25,151
	MUFG Union Bank NA	2.100%	12/9/22	7,395	7,512
	National Australia Bank Ltd.	2.500%	1/12/21	10,975	11,063
	National Australia Bank Ltd.	2.625%	1/14/21	30	30
	National Australia Bank Ltd.	1.875%	7/12/21	11,485	11,550
	National Australia Bank Ltd.	3.375%	9/20/21	11,075	11,399
	National Australia Bank Ltd.	3.700%	11/4/21	14,125	14,644
	National Australia Bank Ltd.	2.800%	1/10/22	11,986	12,271
	National Australia Bank Ltd.	2.500%	5/22/22	14,628	14,963
	National Australia Bank Ltd.	1.875%	12/13/22	1,400	1,423
	National Australia Bank Ltd.	3.000%	1/20/23	11,950	12,453
	National Australia Bank Ltd.	2.875%	4/12/23	7,615	7,926
	National Australia Bank Ltd.	3.625%	6/20/23	17,300	18,446
	National Bank of Canada	2.100%	2/1/23	11,325	11,482
	Northern Trust Corp.	3.375%	8/23/21	9,794	10,094
	Northern Trust Corp.	2.375%	8/2/22	5,405	5,539
	People's United Bank NA	4.000%	7/15/24	7,687	8,190
	People's United Financial Inc.	3.650%	12/6/22	6,245	6,573
	PNC Bank NA	2.500%	1/22/21	13,037	13,153
	PNC Bank NA	2.150%	4/29/21	11,670	11,774
	PNC Bank NA	2.550%	12/9/21	9,942	10,133
	PNC Bank NA	2.625%	2/17/22	22,097	22,600
1	PNC Bank NA	2.232%	7/22/22	12,620	12,745
	PNC Bank NA	2.450%	7/28/22	9,025	9,255
	PNC Bank NA	2.700%	11/1/22	9,975	10,253
1	PNC Bank NA	2.028%	12/9/22	20,200	20,513
	PNC Bank NA	2.950%	1/30/23	13,390	13,927
	PNC Bank NA	3.500%	6/8/23	5,323	5,660
	PNC Bank NA	3.800%	7/25/23	19,513	20,880
	PNC Bank NA	3.300%	10/30/24	10,854	11,658
	PNC Bank NA	2.950%	2/23/25	1,637	1,752
	PNC Financial Services Group Inc.	2.854%	11/9/22	8,366	8,698
	PNC Financial Services Group Inc.	3.500%	1/23/24	22,159	23,587
	PNC Financial Services Group Inc.	3.900%	4/29/24	12,307	13,295
	PNC Financial Services Group Inc.	2.200%	11/1/24	2,210	2,274
	PNC Funding Corp.	3.300%	3/8/22	26,457	27,547
	Regions Bank	2.750%	4/1/21	8,169	8,261
1	Regions Bank	3.374%	8/13/21	9,925	10,001
	Regions Financial Corp.	2.750%	8/14/22	13,391	13,738
	Regions Financial Corp.	3.800%	8/14/23	13,810	14,801
	Royal Bank of Canada	2.500%	1/19/21	16	16
	Royal Bank of Canada	3.200%	4/30/21	21,295	21,757
	Royal Bank of Canada	2.750%	2/1/22	13,246	13,581

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Royal Bank of Canada	2.800%	4/29/22	16,825	17,274
	Royal Bank of Canada	1.950%	1/17/23	11,800	11,958
	Royal Bank of Canada	3.700%	10/5/23	21,020	22,582
	Royal Bank of Canada	2.550%	7/16/24	21,257	22,093
	Royal Bank of Canada	2.250%	11/1/24	33,850	34,646
	Royal Bank of Scotland Group plc	6.125%	12/15/22	23,276	25,509
1	Royal Bank of Scotland Group plc	3.498%	5/15/23	24,301	25,051
	Royal Bank of Scotland Group plc	6.100%	6/10/23	28,908	31,955
	Royal Bank of Scotland Group plc	3.875%	9/12/23	48,187	51,254
	Royal Bank of Scotland Group plc	6.000%	12/19/23	27,522	30,896
	Royal Bank of Scotland Group plc	5.125%	5/28/24	33,004	36,093
1	Royal Bank of Scotland Group plc	4.519%	6/25/24	24,425	26,267
1	Royal Bank of Scotland Group plc	4.269%	3/22/25	32,567	34,972
1	Royal Bank of Scotland Group plc	3.754%	11/1/29	3,550	3,696
	Santander Holdings USA Inc.	4.450%	12/3/21	3,550	3,698
	Santander Holdings USA Inc.	3.700%	3/28/22	329	341
	Santander Holdings USA Inc.	3.400%	1/18/23	12,802	13,325
	Santander Holdings USA Inc.	3.500%	6/7/24	7,726	8,106
	Santander Holdings USA Inc.	3.244%	10/5/26	44,519	46,593
	Santander UK Group Holdings plc	3.125%	1/8/21	15,895	16,042
	Santander UK Group Holdings plc	2.875%	8/5/21	16,463	16,719
	Santander UK Group Holdings plc	3.571%	1/10/23	15,934	16,427
1	Santander UK Group Holdings plc	3.373%	1/5/24	21,580	22,338
1	Santander UK Group Holdings plc	4.796%	11/15/24	9,270	10,098
	Santander UK plc	3.400%	6/1/21	22,360	22,847
	Santander UK plc	3.750%	11/15/21	10,270	10,648
	Santander UK plc	2.100%	1/13/23	15,480	15,695
	Santander UK plc	4.000%	3/13/24	14,396	15,604
	Santander UK plc	2.875%	6/18/24	16,773	17,472
	Skandinaviska Enskilda Banken AB	2.625%	3/15/21	19,963	20,216
	Skandinaviska Enskilda Banken AB	1.875%	9/13/21	11,287	11,350
	Skandinaviska Enskilda Banken AB	2.800%	3/11/22	11,600	11,881
	State Street Corp.	4.375%	3/7/21	5,911	6,081
	State Street Corp.	1.950%	5/19/21	8,045	8,079
1	State Street Corp.	2.653%	5/15/23	19,090	19,552
	State Street Corp.	3.100%	5/15/23	17,285	18,187
	State Street Corp.	3.700%	11/20/23	5,944	6,451
1	State Street Corp.	3.776%	12/3/24	18,823	20,347
	State Street Corp.	3.300%	12/16/24	15,150	16,221
1	State Street Corp.	2.354%	11/1/25	15,025	15,426
	Sumitomo Mitsui Banking Corp.	3.200%	7/18/22	9,892	10,256
	Sumitomo Mitsui Banking Corp.	3.000%	1/18/23	2,750	2,860
	Sumitomo Mitsui Banking Corp.	3.950%	7/19/23	9,525	10,226
	Sumitomo Mitsui Banking Corp.	3.950%	1/10/24	5,680	6,116
	Sumitomo Mitsui Banking Corp.	3.400%	7/11/24	10,125	10,815
	Sumitomo Mitsui Financial Group Inc.	2.934%	3/9/21	29,120	29,504
	Sumitomo Mitsui Financial Group Inc.	2.058%	7/14/21	22,510	22,662
	Sumitomo Mitsui Financial Group Inc.	2.442%	10/19/21	25,657	26,033
	Sumitomo Mitsui Financial Group Inc.	2.846%	1/11/22	12,479	12,765
	Sumitomo Mitsui Financial Group Inc.	2.784%	7/12/22	32,978	33,866
	Sumitomo Mitsui Financial Group Inc.	2.778%	10/18/22	13,100	13,484
	Sumitomo Mitsui Financial Group Inc.	3.102%	1/17/23	27,550	28,725
	Sumitomo Mitsui Financial Group Inc.	3.748%	7/19/23	12,556	13,394
	Sumitomo Mitsui Financial Group Inc.	3.936%	10/16/23	13,160	14,231
	Sumitomo Mitsui Financial Group Inc.	2.696%	7/16/24	35,329	36,584
	Sumitomo Mitsui Financial Group Inc.	2.448%	9/27/24	13,424	13,744
	Sumitomo Mitsui Financial Group Inc.	2.348%	1/15/25	20,700	21,079
	Svenska Handelsbanken AB	2.450%	3/30/21	19,009	19,210
	Svenska Handelsbanken AB	3.350%	5/24/21	18,955	19,392
	Svenska Handelsbanken AB	1.875%	9/7/21	19,426	19,533
	Svenska Handelsbanken AB	3.900%	11/20/23	8,370	9,082
	Synchrony Bank	3.650%	5/24/21	8,555	8,741
	Synchrony Bank	3.000%	6/15/22	9,377	9,631
	Synchrony Financial	3.750%	8/15/21	12,397	12,727

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Synchrony Financial	2.850%	7/25/22	7,225	7,388
	Synchrony Financial	4.375%	3/19/24	15,018	16,137
	Synchrony Financial	4.250%	8/15/24	17,724	19,110
1	Synovus Bank	2.289%	2/10/23	6,150	6,216
	Synovus Financial Corp.	3.125%	11/1/22	4,633	4,778
	Toronto-Dominion Bank	2.500%	12/14/20	21,344	21,488
	Toronto-Dominion Bank	2.125%	4/7/21	24,455	24,654
	Toronto-Dominion Bank	3.250%	6/11/21	10,540	10,787
	Toronto-Dominion Bank	1.800%	7/13/21	35,650	35,850
	Toronto-Dominion Bank	1.900%	12/1/22	9,105	9,242
	Toronto-Dominion Bank	3.500%	7/19/23	23,495	25,063
	Toronto-Dominion Bank	3.250%	3/11/24	22,150	23,622
	Toronto-Dominion Bank	2.650%	6/12/24	12,857	13,421
	Truist Bank	2.850%	4/1/21	8,312	8,436
1	Truist Bank	3.525%	10/26/21	2,983	3,023
	Truist Bank	2.625%	1/15/22	13,793	14,030
	Truist Bank	2.800%	5/17/22	23,530	24,167
	Truist Bank	2.450%	8/1/22	19,672	20,082
1	Truist Bank	3.502%	8/2/22	11,562	11,869
	Truist Bank	3.000%	2/2/23	9,622	10,040
	Truist Bank	2.750%	5/1/23	8,592	8,924
	Truist Bank	3.200%	4/1/24	29,635	31,282
1	Truist Bank	3.689%	8/2/24	9,278	9,915
	Truist Bank	2.150%	12/6/24	42,000	42,855
	Truist Financial Corp	2.900%	3/3/21	11,284	11,411
	Truist Financial Corp.	2.050%	5/10/21	7,268	7,315
	Truist Financial Corp.	3.200%	9/3/21	8,855	9,084
	Truist Financial Corp.	2.700%	1/27/22	21,079	21,521
	Truist Financial Corp.	3.950%	3/22/22	8,244	8,610
	Truist Financial Corp.	2.750%	4/1/22	18,915	19,351
	Truist Financial Corp.	3.050%	6/20/22	27,350	28,315
	Truist Financial Corp.	3.750%	12/6/23	14,829	15,967
	Truist Financial Corp.	2.500%	8/1/24	17,583	18,166
	Truist Financial Corp.	2.850%	10/26/24	1,000	1,049
	US Bancorp	4.125%	5/24/21	4,893	5,039
	US Bancorp	2.625%	1/24/22	27,915	28,578
	US Bancorp	3.000%	3/15/22	9,645	9,944
	US Bancorp	2.950%	7/15/22	25,140	25,997
	US Bancorp	3.700%	1/30/24	17,227	18,638
	US Bancorp	3.375%	2/5/24	28,280	30,205
	US Bancorp	2.400%	7/30/24	19,141	19,843
	US Bancorp	3.600%	9/11/24	15,010	16,275
	US Bank NA	3.150%	4/26/21	10,846	11,054
	US Bank NA	3.450%	11/16/21	5,250	5,426
	US Bank NA	1.800%	1/21/22	11,475	11,572
	US Bank NA	2.650%	5/23/22	21,700	22,288
	US Bank NA	1.950%	1/9/23	14,090	14,277
	US Bank NA	2.850%	1/23/23	11,100	11,574
	US Bank NA	3.400%	7/24/23	12,130	12,881
	US Bank NA	2.050%	1/21/25	10,825	11,061
	US Bank NA	2.800%	1/27/25	30,002	31,627
	Wells Fargo & Co.	3.000%	1/22/21	11	11
	Wells Fargo & Co.	2.500%	3/4/21	45,237	45,577
	Wells Fargo & Co.	4.600%	4/1/21	24,583	25,412
	Wells Fargo & Co.	2.100%	7/26/21	36,352	36,666
	Wells Fargo & Co.	3.500%	3/8/22	31,852	33,075
	Wells Fargo & Co.	2.625%	7/22/22	69,589	71,293
	Wells Fargo & Co.	3.069%	1/24/23	76,850	78,924
	Wells Fargo & Co.	3.450%	2/13/23	32,089	33,590
	Wells Fargo & Co.	4.125%	8/15/23	15,922	17,105
	Wells Fargo & Co.	4.480%	1/16/24	8,152	8,912
	Wells Fargo & Co.	3.750%	1/24/24	31,322	33,647
	Wells Fargo & Co.	3.300%	9/9/24	51,688	54,810
	Wells Fargo & Co.	3.000%	2/19/25	59,819	62,990

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
1	Wells Fargo & Co.	2.406%	10/30/25	42,850	43,921
1	Wells Fargo & Co.	2.164%	2/11/26	35,000	35,410
1	Wells Fargo Bank NA	3.325%	7/23/21	31,615	31,809
	Wells Fargo Bank NA	3.625%	10/22/21	33,561	34,690
1	Wells Fargo Bank NA	2.897%	5/27/22	6,565	6,663
1	Wells Fargo Bank NA	2.082%	9/9/22	24,345	24,558
	Wells Fargo Bank NA	3.550%	8/14/23	30,098	31,965
	Westpac Banking Corp.	2.650%	1/25/21	8,452	8,547
	Westpac Banking Corp.	2.100%	5/13/21	29,854	30,119
	Westpac Banking Corp.	2.000%	8/19/21	11,853	11,998
	Westpac Banking Corp.	2.800%	1/11/22	20,132	20,570
	Westpac Banking Corp.	2.500%	6/28/22	20,797	21,349
	Westpac Banking Corp.	2.750%	1/11/23	12,061	12,497
	Westpac Banking Corp.	2.000%	1/13/23	7,290	7,383
	Westpac Banking Corp.	3.650%	5/15/23	6,631	7,099
	Westpac Banking Corp.	3.300%	2/26/24	20,330	21,607
	Westpac Banking Corp.	2.350%	2/19/25	16,792	17,324
1	Westpac Banking Corp.	2.894%	2/4/30	35,275	35,838
	Zions Bancorp NA	3.500%	8/27/21	10,989	11,286
	Zions Bancorp NA	3.350%	3/4/22	4,845	5,006
	Brokerage (1.0%)
	Affiliated Managers Group Inc.	4.250%	2/15/24	7,067	7,733
	Ameriprise Financial Inc.	3.000%	3/22/22	6,095	6,306
	Ameriprise Financial Inc.	4.000%	10/15/23	16,256	17,775
	Ameriprise Financial Inc.	3.700%	10/15/24	6,453	7,056
	BGC Partners Inc.	5.375%	7/24/23	8,125	8,846
	BGC Partners Inc.	3.750%	10/1/24	4,025	4,174
	BlackRock Inc.	4.250%	5/24/21	10,676	11,082
	BlackRock Inc.	3.375%	6/1/22	7,070	7,401
	BlackRock Inc.	3.500%	3/18/24	19,076	20,567
	Brookfield Asset Management Inc.	4.000%	1/15/25	6,077	6,665
	Brookfield Finance LLC	4.000%	4/1/24	13,019	14,196
	Charles Schwab Corp.	3.250%	5/21/21	8,669	8,855
	Charles Schwab Corp.	3.225%	9/1/22	1,500	1,561
	Charles Schwab Corp.	2.650%	1/25/23	11,131	11,543
	Charles Schwab Corp.	3.550%	2/1/24	10,452	11,243
	CME Group Inc.	3.000%	9/15/22	9,311	9,697
	E*TRADE Financial Corp.	2.950%	8/24/22	10,050	10,374
	Eaton Vance Corp.	3.625%	6/15/23	4,580	4,871
	Franklin Resources Inc.	2.800%	9/15/22	4,000	4,142
	Intercontinental Exchange Inc.	2.750%	12/1/20	6,511	6,554
	Intercontinental Exchange Inc.	2.350%	9/15/22	5,409	5,528
	Intercontinental Exchange Inc.	3.450%	9/21/23	7,390	7,857
	Intercontinental Exchange Inc.	4.000%	10/15/23	8,743	9,403
	Invesco Finance plc	3.125%	11/30/22	9,847	10,275
	Invesco Finance plc	4.000%	1/30/24	8,480	9,229
	Jefferies Financial Group Inc.	5.500%	10/18/23	12,676	14,049
	Jefferies Group LLC	6.875%	4/15/21	10,851	11,475
	Jefferies Group LLC	5.125%	1/20/23	9,146	9,931
	Lazard Group LLC	3.750%	2/13/25	4,688	5,093
	Nasdaq Inc.	4.250%	6/1/24	2,162	2,377
	Nomura Holdings Inc.	2.648%	1/16/25	10,200	10,440
	Stifel Financial Corp.	3.500%	12/1/20	8,140	8,238
	Stifel Financial Corp.	4.250%	7/18/24	5,050	5,540
	TD Ameritrade Holding Corp.	2.950%	4/1/22	8,167	8,357
	TD Ameritrade Holding Corp.	3.750%	4/1/24	5,631	6,087
	Finance Companies (1.3%)
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	4.500%	5/15/21	15,930	16,408
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	5.000%	10/1/21	6,487	6,779
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	4.450%	12/16/21	8,540	8,892

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.950%	2/1/22	19,753	20,370
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.500%	5/26/22	8,868	9,156
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	4.625%	7/1/22	9,438	10,004
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.300%	1/23/23	7,170	7,385
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	4.125%	7/3/23	8,529	9,041
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	4.875%	1/16/24	17,150	18,586
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	2.875%	8/14/24	8,606	8,767
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.500%	1/15/25	4,730	4,937
	Air Lease Corp.	2.500%	3/1/21	6,854	6,890
	Air Lease Corp.	3.875%	4/1/21	10,484	10,719
	Air Lease Corp.	3.375%	6/1/21	6,492	6,616
	Air Lease Corp.	3.500%	1/15/22	9,243	9,504
	Air Lease Corp.	3.750%	2/1/22	11,125	11,465
	Air Lease Corp.	2.625%	7/1/22	10,555	10,723
	Air Lease Corp.	2.750%	1/15/23	10,788	11,069
	Air Lease Corp.	3.875%	7/3/23	9,070	9,663
	Air Lease Corp.	3.000%	9/15/23	12,262	12,618
	Air Lease Corp.	4.250%	2/1/24	11,210	12,159
	Air Lease Corp.	4.250%	9/15/24	9,586	10,338
	Air Lease Corp.	2.300%	2/1/25	11,746	11,758
	Aircastle Ltd.	5.125%	3/15/21	5,375	5,570
	Aircastle Ltd.	5.500%	2/15/22	7,000	7,510
	Aircastle Ltd.	5.000%	4/1/23	11,537	12,549
	Aircastle Ltd.	4.400%	9/25/23	15,997	17,185
	Aircastle Ltd.	4.125%	5/1/24	1,175	1,243
	Ares Capital Corp.	3.625%	1/19/22	7,005	7,167
	Ares Capital Corp.	3.500%	2/10/23	8,099	8,327
	Ares Capital Corp.	4.200%	6/10/24	18,503	19,657
	FS KKR Capital Corp.	4.750%	5/15/22	5,400	5,655
	FS KKR Capital Corp.	4.625%	7/15/24	7,523	8,025
	FS KKR Capital Corp.	4.125%	2/1/25	6,552	6,829
	GATX Corp.	4.850%	6/1/21	4,125	4,279
	GATX Corp.	3.900%	3/30/23	1,775	1,877
	GATX Corp.	4.350%	2/15/24	3,658	3,994
	Goldman Sachs BDC Inc.	3.750%	2/10/25	4,425	4,532
	International Lease Finance Corp.	8.250%	12/15/20	8,924	9,378
	International Lease Finance Corp.	4.625%	4/15/21	8,242	8,512
	International Lease Finance Corp.	8.625%	1/15/22	10,468	11,680
	International Lease Finance Corp.	5.875%	8/15/22	12,012	13,111
	Oaktree Specialty Lending Corp.	3.500%	2/25/25	3,670	3,672
	Owl Rock Capital Corp.	5.250%	4/15/24	6,400	6,993
	Prospect Capital Corp.	5.875%	3/15/23	4,814	5,224
	TPG Specialty Lending Inc.	3.875%	11/1/24	5,498	5,793
	Insurance (3.0%)
	Aetna Inc.	2.750%	11/15/22	15,606	16,017
	Aetna Inc.	2.800%	6/15/23	13,054	13,399
	Aetna Inc.	3.500%	11/15/24	11,703	12,555
	Aflac Inc.	3.625%	6/15/23	8,042	8,629
	Aflac Inc.	3.625%	11/15/24	12,229	13,409
	Alleghany Corp.	4.950%	6/27/22	7,020	7,562
	Allstate Corp.	3.150%	6/15/23	9,467	10,045
1	Allstate Corp.	5.750%	8/15/53	10,405	11,276
	American International Group Inc.	6.400%	12/15/20	5,878	6,105
	American International Group Inc.	3.300%	3/1/21	13,069	13,260
	American International Group Inc.	4.875%	6/1/22	11,933	12,709

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	American International Group Inc.	4.125%	2/15/24	12,460	13,589
	Anthem Inc.	3.700%	8/15/21	10,628	10,917
	Anthem Inc.	3.125%	5/15/22	17,753	18,381
	Anthem Inc.	2.950%	12/1/22	11,727	12,175
	Anthem Inc.	3.300%	1/15/23	21,094	22,155
	Anthem Inc.	3.500%	8/15/24	19,770	21,241
	Anthem Inc.	3.350%	12/1/24	6,431	6,929
	Anthem Inc.	2.375%	1/15/25	8,864	9,056
	Aon Corp.	2.200%	11/15/22	1,400	1,431
	Aon plc	2.800%	3/15/21	6,399	6,473
	Aon plc	4.000%	11/27/23	4,847	5,231
	Aon plc	3.500%	6/14/24	12,932	13,780
	Aspen Insurance Holdings Ltd.	4.650%	11/15/23	4,375	4,807
	Assurant Inc.	4.000%	3/15/23	5,675	6,040
	Assurant Inc.	4.200%	9/27/23	3,600	3,856
	Assured Guaranty US Holdings Inc.	5.000%	7/1/24	1,997	2,270
	Berkshire Hathaway Finance Corp.	3.000%	5/15/22	13,475	13,943
	Berkshire Hathaway Inc.	2.200%	3/15/21	20,527	20,680
	Berkshire Hathaway Inc.	3.750%	8/15/21	8,265	8,594
	Berkshire Hathaway Inc.	3.400%	1/31/22	10,548	10,970
	Berkshire Hathaway Inc.	3.000%	2/11/23	10,383	10,928
	Berkshire Hathaway Inc.	2.750%	3/15/23	25,319	26,292
	Brown & Brown Inc.	4.200%	9/15/24	6,204	6,866
	Chubb INA Holdings Inc.	2.875%	11/3/22	11,759	12,241
	Chubb INA Holdings Inc.	2.700%	3/13/23	13,209	13,757
	Chubb INA Holdings Inc.	3.350%	5/15/24	10,340	11,154
	Cigna Holding Co.	4.375%	12/15/20	1,750	1,778
	CNA Financial Corp.	5.750%	8/15/21	5,825	6,193
	CNA Financial Corp.	3.950%	5/15/24	8,776	9,525
	Enstar Group Ltd.	4.500%	3/10/22	4,100	4,244
	Equitable Holdings Inc.	3.900%	4/20/23	17,053	18,253
	Fidelity National Financial Inc.	5.500%	9/1/22	3,910	4,287
	First American Financial Corp.	4.600%	11/15/24	4,275	4,718
	Globe Life Inc.	3.800%	9/15/22	3,080	3,214
	Humana Inc.	2.500%	12/15/20	3,205	3,226
	Humana Inc.	3.150%	12/1/22	9,591	9,960
	Humana Inc.	2.900%	12/15/22	7,309	7,581
	Humana Inc.	3.850%	10/1/24	9,200	9,950
	Kemper Corp.	4.350%	2/15/25	7,014	7,718
	Lincoln National Corp.	4.850%	6/24/21	2,517	2,627
	Lincoln National Corp.	4.200%	3/15/22	4,707	4,973
	Lincoln National Corp.	4.000%	9/1/23	7,892	8,590
	Loews Corp.	2.625%	5/15/23	10,768	11,224
	Markel Corp.	4.900%	7/1/22	5,405	5,824
	Marsh & McLennan Cos. Inc.	3.500%	12/29/20	530	540
	Marsh & McLennan Cos. Inc.	4.800%	7/15/21	2,671	2,779
	Marsh & McLennan Cos. Inc.	2.750%	1/30/22	9,594	9,820
	Marsh & McLennan Cos. Inc.	3.300%	3/14/23	4,707	4,965
	Marsh & McLennan Cos. Inc.	3.875%	3/15/24	17,958	19,609
	Marsh & McLennan Cos. Inc.	3.500%	6/3/24	9,852	10,561
	MetLife Inc.	3.048%	12/15/22	8,209	8,582
	MetLife Inc.	4.368%	9/15/23	14,082	15,568
	MetLife Inc.	3.600%	4/10/24	17,348	18,957
	Old Republic International Corp.	4.875%	10/1/24	6,273	7,076
	Primerica Inc.	4.750%	7/15/22	5,044	5,433
	Principal Financial Group Inc.	3.300%	9/15/22	6,935	7,267
	Principal Financial Group Inc.	3.125%	5/15/23	3,917	4,119
	Progressive Corp.	3.750%	8/23/21	8,596	8,921
	Prudential Financial Inc.	4.500%	11/16/21	7,496	7,869
	Prudential Financial Inc.	3.500%	5/15/24	10,502	11,369
1	Prudential Financial Inc.	5.875%	9/15/42	13,555	14,131
1	Prudential Financial Inc.	5.625%	6/15/43	28,006	29,826
1	Prudential Financial Inc.	5.200%	3/15/44	2,850	3,007
	Reinsurance Group of America Inc.	5.000%	6/1/21	7,735	8,073

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Reinsurance Group of America Inc.	4.700%	9/15/23	4,708	5,255
	Trinity Acquisition plc	3.500%	9/15/21	10,114	10,358
	UnitedHealth Group Inc.	2.125%	3/15/21	8,372	8,452
	UnitedHealth Group Inc.	3.150%	6/15/21	10,303	10,562
	UnitedHealth Group Inc.	3.375%	11/15/21	10,051	10,371
	UnitedHealth Group Inc.	2.875%	12/15/21	22,538	23,138
	UnitedHealth Group Inc.	2.875%	3/15/22	17,140	17,599
	UnitedHealth Group Inc.	3.350%	7/15/22	13,263	13,878
	UnitedHealth Group Inc.	2.375%	10/15/22	17,476	17,926
	UnitedHealth Group Inc.	2.750%	2/15/23	5,747	5,943
	UnitedHealth Group Inc.	2.875%	3/15/23	16,573	17,311
	UnitedHealth Group Inc.	3.500%	6/15/23	10,118	10,832
	UnitedHealth Group Inc.	3.500%	2/15/24	8,261	8,881
	UnitedHealth Group Inc.	2.375%	8/15/24	6,349	6,556
	Unum Group	4.000%	3/15/24	7,827	8,516
	Voya Financial Inc.	3.125%	7/15/24	13,721	14,584
1	Voya Financial Inc.	5.650%	5/15/53	5,900	6,276
	Willis North America Inc.	3.600%	5/15/24	14,690	15,843
	Willis Towers Watson plc	5.750%	3/15/21	4,190	4,353
	WR Berkley Corp.	4.625%	3/15/22	6,591	7,015
	Other Finance (0.1%)
	ORIX Corp.	2.900%	7/18/22	11,212	11,516
	ORIX Corp.	3.250%	12/4/24	14,695	15,595
	Real Estate Investment Trusts (2.7%)
	Alexandria Real Estate Equities Inc.	3.900%	6/15/23	12,849	13,692
	Alexandria Real Estate Equities Inc.	4.000%	1/15/24	7,489	8,103
	American Campus Communities Operating Partnership LP	3.750%	4/15/23	5,950	6,317
	American Campus Communities Operating Partnership LP	4.125%	7/1/24	7,949	8,692
	AvalonBay Communities Inc.	2.950%	9/15/22	6,394	6,613
	AvalonBay Communities Inc.	4.200%	12/15/23	4,225	4,618
	AvalonBay Communities Inc.	3.500%	11/15/24	4,760	5,133
	Boston Properties LP	4.125%	5/15/21	13,718	14,072
	Boston Properties LP	3.850%	2/1/23	9,623	10,202
	Boston Properties LP	3.125%	9/1/23	10,345	10,861
	Boston Properties LP	3.800%	2/1/24	12,025	12,978
	Boston Properties LP	3.200%	1/15/25	9,813	10,444
	Brandywine Operating Partnership LP	3.950%	2/15/23	6,208	6,459
	Brandywine Operating Partnership LP	4.100%	10/1/24	4,500	4,883
	Brixmor Operating Partnership LP	3.875%	8/15/22	8,466	8,902
	Brixmor Operating Partnership LP	3.250%	9/15/23	13,531	14,190
	Brixmor Operating Partnership LP	3.650%	6/15/24	7,486	8,027
	Brixmor Operating Partnership LP	3.850%	2/1/25	8,603	9,320
	Camden Property Trust	2.950%	12/15/22	5,971	6,160
	Corporate Office Properties LP	3.700%	6/15/21	4,160	4,245
	Corporate Office Properties LP	3.600%	5/15/23	5,304	5,545
	CubeSmart LP	4.375%	12/15/23	4,645	5,048
	CyrusOne LP / CyrusOne Finance Corp.	2.900%	11/15/24	10,685	10,992
	Digital Realty Trust LP	3.950%	7/1/22	6,274	6,598
	Digital Realty Trust LP	3.625%	10/1/22	5,806	6,056
	Digital Realty Trust LP	2.750%	2/1/23	4,849	4,966
	Duke Realty LP	4.375%	6/15/22	1,526	1,618
	Duke Realty LP	3.875%	10/15/22	4,759	5,012
	Duke Realty LP	3.625%	4/15/23	1,500	1,583
	Duke Realty LP	3.750%	12/1/24	5,745	6,250
	ERP Operating LP	4.625%	12/15/21	13,389	14,046
	ERP Operating LP	3.000%	4/15/23	5,975	6,239
	Essex Portfolio LP	3.625%	8/15/22	3,450	3,602
	Essex Portfolio LP	3.375%	1/15/23	1,000	1,042
	Essex Portfolio LP	3.250%	5/1/23	7,857	8,236
	Essex Portfolio LP	3.875%	5/1/24	3,460	3,747
	Healthcare Trust of America Holdings LP	3.700%	4/15/23	2,375	2,501

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Healthpeak Properties Inc.	3.150%	8/1/22	4,447		4,594
Healthpeak Properties Inc.	4.250%	11/15/23	8,491		9,222
Healthpeak Properties Inc.	4.200%	3/1/24	4,642		5,050
Healthpeak Properties Inc.	3.875%	8/15/24	13,921		15,171
Healthpeak Properties Inc.	3.400%	2/1/25	8,323		8,839
Highwoods Realty LP	3.200%	6/15/21	3,041		3,101
Highwoods Realty LP	3.625%	1/15/23	1,360		1,426
Host Hotels & Resorts LP	4.750%	3/1/23	7,307		7,885
Host Hotels & Resorts LP	3.750%	10/15/23	5,400		5,750
Host Hotels & Resorts LP	3.875%	4/1/24	8,025		8,660
Kilroy Realty LP	3.450%	12/15/24	8,950		9,549
Kimco Realty Corp.	3.200%	5/1/21	7,485		7,617
Kimco Realty Corp.	3.400%	11/1/22	6,207		6,494
Kimco Realty Corp.	3.125%	6/1/23	3,948		4,123
Kimco Realty Corp.	2.700%	3/1/24	5,788		5,972
Kimco Realty Corp.	3.300%	2/1/25	10,692		11,429
Liberty Property LP	4.125%	6/15/22	5,034		5,290
Liberty Property LP	3.375%	6/15/23	4,175		4,410
Liberty Property LP	4.400%	2/15/24	8,461		9,345
Mid-America Apartments LP	4.300%	10/15/23	6,885		7,490
Mid-America Apartments LP	3.750%	6/15/24	4,815		5,205
National Retail Properties Inc.	3.800%	10/15/22	4,642		4,918
National Retail Properties Inc.	3.300%	4/15/23	4,000		4,186
National Retail Properties Inc.	3.900%	6/15/24	4,316		4,681
Office Properties Income Trust	4.000%	7/15/22	6,500		6,735
Omega Healthcare Investors Inc.	4.375%	8/1/23	14,236		15,229
Omega Healthcare Investors Inc.	4.950%	4/1/24	8,038		8,962
Omega Healthcare Investors Inc.	4.500%	1/15/25	2,588		2,828
Piedmont Operating Partnership LP	3.400%	6/1/23	4,466		4,647
Piedmont Operating Partnership LP	4.450%	3/15/24	6,575		7,250
Prologis LP	4.250%	8/15/23	7,734		8,394
Public Storage	2.370%	9/15/22	8,648		8,874
Realty Income Corp.	3.250%	10/15/22	11,828		12,339
Realty Income Corp.	4.650%	8/1/23	15,886		17,262
Realty Income Corp.	3.875%	7/15/24	8,864		9,557
Regency Centers Corp.	3.750%	11/15/22	4,205		4,418
Sabra Health Care LP / Sabra Capital Corp.	4.800%	6/1/24	7,995		8,655
Select Income REIT	4.150%	2/1/22	5,540		5,716
Select Income REIT	4.250%	5/15/24	4,903		5,211
Select Income REIT	4.500%	2/1/25	5,847		6,282
Service Properties Trust	5.000%	8/15/22	6,182		6,538
Service Properties Trust	4.500%	6/15/23	8,145		8,534
Service Properties Trust	4.650%	3/15/24	10,098		10,756
Service Properties Trust	4.350%	10/1/24	12,398		13,094
Simon Property Group LP	2.500%	7/15/21	9,587		9,707
Simon Property Group LP	2.350%	1/30/22	11,505		11,680
Simon Property Group LP	2.625%	6/15/22	5,180		5,292
Simon Property Group LP	2.750%	2/1/23	11,334		11,739
Simon Property Group LP	2.750%	6/1/23	7,107		7,350
Simon Property Group LP	3.750%	2/1/24	11,508		12,380
Simon Property Group LP	2.000%	9/13/24	12,620		12,741
Simon Property Group LP	3.375%	10/1/24	13,605		14,512
SITE Centers Corp.	4.625%	7/15/22	2,143		2,286
SITE Centers Corp.	3.625%	2/1/25	6,473		6,892
SL Green Operating Partnership LP	3.250%	10/15/22	4,700		4,862
SL Green Realty Corp.	4.500%	12/1/22	5,925		6,308
UDR Inc.	3.750%	7/1/24	5,975		6,442
Ventas Realty LP	3.100%	1/15/23	5,340		5,536
Ventas Realty LP	3.125%	6/15/23	7,467		7,807
Ventas Realty LP	3.500%	4/15/24	7,857		8,397
Ventas Realty LP	3.750%	5/1/24	6,309		6,755
Ventas Realty LP	2.650%	1/15/25	5,052		5,257
Ventas Realty LP	3.500%	2/1/25	9,446		10,126
Ventas Realty LP / Ventas Capital Corp.	3.250%	8/15/22	4,837		5,020

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	VEREIT Operating Partnership LP	4.600%	2/6/24	8,961		9,873
	Vornado Realty LP	3.500%	1/15/25	6,944		7,453
	Washington REIT	3.950%	10/15/22	2,300		2,405
	Weingarten Realty Investors	3.375%	10/15/22	2,209		2,285
	Weingarten Realty Investors	3.500%	4/15/23	3,465		3,612
	Welltower Inc.	3.750%	3/15/23	9,010		9,553
	Welltower Inc.	3.950%	9/1/23	11,165		11,978
	Welltower Inc.	4.500%	1/15/24	7,049		7,722
	Welltower Inc.	3.625%	3/15/24	11,557		12,212
	WP Carey Inc.	4.600%	4/1/24	5,966		6,491
	WP Carey Inc.	4.000%	2/1/25	5,659		6,088
						13,342,918
Industrial (52.3%)
	Basic Industry (2.3%)
	Air Products & Chemicals Inc.	3.000%	11/3/21	5,133		5,269
	Air Products & Chemicals Inc.	2.750%	2/3/23	5,799		6,011
	Air Products & Chemicals Inc.	3.350%	7/31/24	9,170		9,883
	Airgas Inc.	3.650%	7/15/24	4,400		4,769
	Albemarle Corp.	4.150%	12/1/24	6,960		7,632
	ArcelorMittal	6.250%	2/25/22	9,982		10,909
	ArcelorMittal	3.600%	7/16/24	15,755		16,397
	BHP Billiton Finance USA Ltd.	2.875%	2/24/22	17,845		18,335
	BHP Billiton Finance USA Ltd.	3.850%	9/30/23	5,959		6,457
	Braskem Finance Ltd.	6.450%	2/3/24	11,140		12,218
	Cabot Corp.	3.700%	7/15/22	5,145		5,366
	Celanese US Holdings LLC	5.875%	6/15/21	5,632		5,881
	Celanese US Holdings LLC	4.625%	11/15/22	5,865		6,271
	Celanese US Holdings LLC	3.500%	5/8/24	7,575		8,018
	Celulosa Arauco y Constitucion SA	4.500%	8/1/24	8,200		8,657
	Domtar Corp.	4.400%	4/1/22	5,403		5,634
	Dow Chemical Co.	3.000%	11/15/22	11,906		12,434
	Dow Chemical Co.	3.150%	5/15/24	10,245		10,826
	Dow Chemical Co.	3.500%	10/1/24	12,855		13,783
	DuPont de Nemours Inc.	4.205%	11/15/23	44,863		48,906
	Eastman Chemical Co.	3.500%	12/1/21	9,175		9,494
	Eastman Chemical Co.	3.600%	8/15/22	5,866		6,099
	Ecolab Inc.	4.350%	12/8/21	18,054		18,963
	Ecolab Inc.	2.375%	8/10/22	6,336		6,458
	Ecolab Inc.	3.250%	1/14/23	3,500		3,662
	Fibria Overseas Finance Ltd.	5.250%	5/12/24	4,923		5,311
	Fibria Overseas Finance Ltd.	4.000%	1/14/25	11,935		12,617
	FMC Corp.	3.950%	2/1/22	2,065		2,141
	FMC Corp.	4.100%	2/1/24	7,197		7,738
	International Flavors & Fragrances Inc.	3.200%	5/1/23	5,154		5,333
	International Paper Co.	7.500%	8/15/21	5,480		5,934
	International Paper Co.	3.650%	6/15/24	11,087		11,928
	Kinross Gold Corp.	5.125%	9/1/21	9,255		9,486
	Kinross Gold Corp.	5.950%	3/15/24	6,623		7,319
	LYB International Finance BV	4.000%	7/15/23	13,710		14,692
	LyondellBasell Industries NV	6.000%	11/15/21	22,224		23,647
	LyondellBasell Industries NV	5.750%	4/15/24	7,181		8,222
	Methanex Corp.	4.250%	12/1/24	3,998		4,163
	Mosaic Co.	3.750%	11/15/21	875		899
	Mosaic Co.	3.250%	11/15/22	10,148		10,512
	Mosaic Co.	4.250%	11/15/23	20,389		21,852
	Newmont Corp.	3.625%	6/9/21	7,000		7,172
	Newmont Corp.	3.500%	3/15/22	20,189		20,824
	Newmont Corp.	3.700%	3/15/23	16,255		17,309
	Nucor Corp.	4.125%	9/15/22	10,448		11,040
	Nucor Corp.	4.000%	8/1/23	6,570		7,050
	Nutrien Ltd.	3.150%	10/1/22	11,899		12,304
	Nutrien Ltd.	3.500%	6/1/23	7,616		8,003
	Nutrien Ltd.	3.625%	3/15/24	8,459		9,043

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Packaging Corp. of America	4.500%	11/1/23	9,805		10,718
	Packaging Corp. of America	3.650%	9/15/24	8,080		8,659
	PPG Industries Inc.	3.200%	3/15/23	5,365		5,628
	PPG Industries Inc.	2.400%	8/15/24	5,125		5,289
	Praxair Inc.	4.050%	3/15/21	4,200		4,315
	Praxair Inc.	3.000%	9/1/21	7,207		7,394
	Praxair Inc.	2.450%	2/15/22	8,752		8,868
	Praxair Inc.	2.200%	8/15/22	10,740		10,926
	Praxair Inc.	2.700%	2/21/23	12,250		12,655
	Praxair Inc.	2.650%	2/5/25	2,784		2,942
	Rayonier Inc.	3.750%	4/1/22	4,000		4,107
	Reliance Steel & Aluminum Co.	4.500%	4/15/23	4,308		4,647
	RPM International Inc.	3.450%	11/15/22	3,758		3,904
	Sasol Financing International Ltd.	4.500%	11/14/22	17,695		18,219
	SASOL Financing USA LLC	5.875%	3/27/24	21,975		23,211
	Sherwin-Williams Co.	4.200%	1/15/22	8,598		8,942
	Sherwin-Williams Co.	2.750%	6/1/22	19,184		19,643
	Sherwin-Williams Co.	3.125%	6/1/24	8,769		9,282
	Southern Copper Corp.	3.500%	11/8/22	4,815		4,970
	Steel Dynamics Inc.	2.800%	12/15/24	13,481		13,818
	WestRock RKT Co.	4.900%	3/1/22	2,606		2,766
	WestRock RKT Co.	4.000%	3/1/23	7,070		7,511
	Weyerhaeuser Co.	4.700%	3/15/21	6,313		6,461
	Weyerhaeuser Co.	3.250%	3/15/23	2,185		2,272
	Weyerhaeuser Co.	4.625%	9/15/23	10,109		11,043
	Weyerhaeuser Co.	8.500%	1/15/25	2,245		2,907
	WRKCo Inc.	3.000%	9/15/24	11,722		12,244
	Capital Goods (5.0%)
	3M Co.	1.625%	9/19/21	9,311		9,350
	3M Co.	2.750%	3/1/22	6,870		7,057
	3M Co.	2.000%	6/26/22	9,398		9,536
	3M Co.	1.750%	2/14/23	7,350		7,452
	3M Co.	2.250%	3/15/23	10,699		10,824
	3M Co.	3.250%	2/14/24	12,235		13,063
	3M Co.	2.000%	2/14/25	9,978		10,172
3	ABB Finance USA Inc.	2.875%	5/8/22	13,404		13,855
	ABB Finance USA Inc.	3.375%	4/3/23	7,492		7,940
	Allegion US Holding Co. Inc.	3.200%	10/1/24	6,150		6,512
2	Bemis Co. Inc.	4.500%	10/15/21	3,142		3,248
	Boeing Co.	2.300%	8/1/21	10,070		10,172
	Boeing Co.	8.750%	8/15/21	1,900		2,090
	Boeing Co.	2.350%	10/30/21	4,475		4,524
	Boeing Co.	2.125%	3/1/22	8,684		8,774
	Boeing Co.	2.700%	5/1/22	6,940		7,095
	Boeing Co.	2.800%	3/1/23	5,336		5,520
	Boeing Co.	1.875%	6/15/23	5,585		5,589
	Boeing Co.	2.800%	3/1/24	4,595		4,768
	Boeing Co.	2.850%	10/30/24	5,050		5,215
	Carlisle Cos. Inc.	3.750%	11/15/22	3,775		3,943
	Carlisle Cos. Inc.	3.500%	12/1/24	7,353		7,870
2	Carrier Global Corp.	1.923%	2/15/23	1,000		1,012
2	Carrier Global Corp.	2.242%	2/15/25	17,570		17,874
	Caterpillar Financial Services Corp.	1.850%	9/4/20	22,707		22,751
	Caterpillar Financial Services Corp.	2.900%	3/15/21	5,925		6,010
	Caterpillar Financial Services Corp.	2.650%	5/17/21	7,825		7,959
	Caterpillar Financial Services Corp.	1.700%	8/9/21	9,144		9,188
	Caterpillar Financial Services Corp.	2.750%	8/20/21	2,000		2,040
	Caterpillar Financial Services Corp.	3.150%	9/7/21	5,755		5,911
	Caterpillar Financial Services Corp.	1.931%	10/1/21	7,604		7,693
	Caterpillar Financial Services Corp.	2.950%	2/26/22	17,060		17,629
	Caterpillar Financial Services Corp.	2.850%	6/1/22	11,770		12,173
	Caterpillar Financial Services Corp.	2.400%	6/6/22	11,425		11,722
	Caterpillar Financial Services Corp.	1.950%	11/18/22	12,000		12,227

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Caterpillar Financial Services Corp.	2.550%	11/29/22	11,745		12,113
	Caterpillar Financial Services Corp.	2.625%	3/1/23	6,970		7,244
	Caterpillar Financial Services Corp.	3.450%	5/15/23	11,165		11,902
	Caterpillar Financial Services Corp.	3.750%	11/24/23	4,231		4,599
	Caterpillar Financial Services Corp.	3.650%	12/7/23	5,532		5,979
	Caterpillar Financial Services Corp.	2.850%	5/17/24	7,900		8,298
	Caterpillar Financial Services Corp.	3.300%	6/9/24	9,931		10,737
	Caterpillar Financial Services Corp.	2.150%	11/8/24	14,450		14,858
	Caterpillar Financial Services Corp.	3.250%	12/1/24	8,622		9,269
	Caterpillar Inc.	3.900%	5/27/21	10,117		10,444
	Caterpillar Inc.	2.600%	6/26/22	8,200		8,435
	Caterpillar Inc.	3.400%	5/15/24	8,055		8,631
	CNH Industrial Capital LLC	4.875%	4/1/21	6,270		6,481
	CNH Industrial Capital LLC	3.875%	10/15/21	5,748		5,965
	CNH Industrial Capital LLC	4.375%	4/5/22	10,819		11,385
	CNH Industrial Capital LLC	4.200%	1/15/24	2,440		2,651
	CNH Industrial NV	4.500%	8/15/23	13,881		15,100
	Crane Co.	4.450%	12/15/23	4,590		4,991
	CRH America Inc.	5.750%	1/15/21	3,309		3,429
	Deere & Co.	2.600%	6/8/22	19,160		19,560
	Eaton Corp.	2.750%	11/2/22	22,003		22,736
2	Embraer Overseas Ltd.	5.696%	9/16/23	6,825		7,451
	Embraer SA	5.150%	6/15/22	8,643		9,047
	Emerson Electric Co.	4.250%	11/15/20	5,925		6,033
	Emerson Electric Co.	2.625%	12/1/21	4,300		4,394
	Emerson Electric Co.	2.625%	2/15/23	5,850		6,038
	Flowserve Corp.	3.500%	9/15/22	6,880		7,031
	Flowserve Corp.	4.000%	11/15/23	6,400		6,716
	Fortive Corp.	2.350%	6/15/21	11,599		11,704
	Fortune Brands Home & Security Inc.	4.000%	9/21/23	9,456		10,174
	General Dynamics Corp.	3.000%	5/11/21	24,921		25,422
	General Dynamics Corp.	3.875%	7/15/21	11,744		12,121
	General Dynamics Corp.	2.250%	11/15/22	19,027		19,481
	General Dynamics Corp.	3.375%	5/15/23	19,184		20,395
	General Dynamics Corp.	1.875%	8/15/23	5,694		5,804
	General Dynamics Corp.	2.375%	11/15/24	7,304		7,618
	General Electric Co.	4.650%	10/17/21	16,167		16,870
	General Electric Co.	3.150%	9/7/22	11,061		11,403
	General Electric Co.	2.700%	10/9/22	38,168		39,008
	General Electric Co.	3.100%	1/9/23	28,216		29,228
	General Electric Co.	3.375%	3/11/24	14,350		15,177
	General Electric Co.	3.450%	5/15/24	10,805		11,480
	Honeywell International Inc.	4.250%	3/1/21	9,913		10,192
	Honeywell International Inc.	1.850%	11/1/21	20,705		20,884
	Honeywell International Inc.	2.150%	8/8/22	8,872		9,071
	Honeywell International Inc.	3.350%	12/1/23	5,705		6,134
	Honeywell International Inc.	2.300%	8/15/24	14,710		15,241
	Hubbell Inc.	3.625%	11/15/22	5,500		5,769
	IDEX Corp.	4.500%	12/15/20	750		762
	IDEX Corp.	4.200%	12/15/21	3,175		3,287
	Illinois Tool Works Inc.	3.375%	9/15/21	4,247		4,367
	Illinois Tool Works Inc.	3.500%	3/1/24	12,958		14,017
	Ingersoll-Rand Global Holding Co. Ltd.	2.900%	2/21/21	6,348		6,423
	Ingersoll-Rand Global Holding Co. Ltd.	4.250%	6/15/23	5,956		6,475
	Ingersoll-Rand Luxembourg Finance SA	3.550%	11/1/24	10,106		10,935
	John Deere Capital Corp.	2.450%	9/11/20	8,850		8,905
	John Deere Capital Corp.	2.350%	1/8/21	11,486		11,567
	John Deere Capital Corp.	2.800%	3/4/21	1,263		1,283
	John Deere Capital Corp.	2.875%	3/12/21	3,959		4,025
	John Deere Capital Corp.	3.900%	7/12/21	5,573		5,777
	John Deere Capital Corp.	3.125%	9/10/21	3,915		4,023
	John Deere Capital Corp.	3.150%	10/15/21	6,068		6,268
	John Deere Capital Corp.	2.650%	1/6/22	9,727		9,994
	John Deere Capital Corp.	3.200%	1/10/22	4,465		4,634

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	John Deere Capital Corp.	2.750%	3/15/22	7,340		7,572
	John Deere Capital Corp.	2.950%	4/1/22	4,160		4,297
	John Deere Capital Corp.	1.950%	6/13/22	12,950		13,175
	John Deere Capital Corp.	2.150%	9/8/22	6,550		6,715
	John Deere Capital Corp.	2.700%	1/6/23	8,600		8,907
	John Deere Capital Corp.	2.800%	1/27/23	10,635		11,078
	John Deere Capital Corp.	2.800%	3/6/23	14,659		15,249
	John Deere Capital Corp.	3.450%	6/7/23	8,080		8,613
	John Deere Capital Corp.	3.650%	10/12/23	10,585		11,447
	John Deere Capital Corp.	3.450%	1/10/24	6,051		6,522
	John Deere Capital Corp.	2.600%	3/7/24	5,855		6,134
	John Deere Capital Corp.	3.350%	6/12/24	15,005		16,123
	John Deere Capital Corp.	2.650%	6/24/24	11,584		12,189
	John Deere Capital Corp.	2.050%	1/9/25	8,175		8,374
	Johnson Controls International plc	3.625%	7/2/24	7,254		7,747
	Kennametal Inc.	3.875%	2/15/22	4,025		4,166
2	L3 Harris Technologies Inc.	3.850%	6/15/23	16,686		17,837
2	L3 Harris Technologies Inc.	3.950%	5/28/24	6,295		6,821
	Leggett & Platt Inc.	3.400%	8/15/22	1,592		1,641
	Leggett & Platt Inc.	3.800%	11/15/24	6,150		6,610
	Legrand France SA	8.500%	2/15/25	6,046		8,079
	Lennox International Inc.	3.000%	11/15/23	4,920		5,101
	Lockheed Martin Corp.	2.500%	11/23/20	3,000		3,014
	Lockheed Martin Corp.	3.350%	9/15/21	10,468		10,820
	Lockheed Martin Corp.	3.100%	1/15/23	13,401		14,016
	Martin Marietta Materials Inc.	4.250%	7/2/24	4,975		5,425
	Masco Corp.	3.500%	4/1/21	6,327		6,443
	Masco Corp.	5.950%	3/15/22	3,778		4,100
	Mohawk Industries Inc.	3.850%	2/1/23	9,293		9,857
	Northrop Grumman Corp.	3.500%	3/15/21	16,605		16,939
	Northrop Grumman Corp.	2.550%	10/15/22	14,243		14,645
	Northrop Grumman Corp.	3.250%	8/1/23	11,041		11,691
	Northrop Grumman Corp.	2.930%	1/15/25	26,434		27,891
	Nvent Finance Sarl	3.950%	4/15/23	1,932		2,012
	Owens Corning	4.200%	12/1/24	5,969		6,541
	Parker-Hannifin Corp.	3.500%	9/15/22	8,723		9,139
	Parker-Hannifin Corp.	2.700%	6/14/24	9,367		9,751
	Parker-Hannifin Corp.	3.300%	11/21/24	9,925		10,623
	Precision Castparts Corp.	2.500%	1/15/23	13,499		13,970
	Raytheon Co.	2.500%	12/15/22	13,200		13,572
	Raytheon Co.	3.150%	12/15/24	5,946		6,401
	Republic Services Inc.	5.250%	11/15/21	9,288		9,902
	Republic Services Inc.	3.550%	6/1/22	14,481		15,111
	Republic Services Inc.	4.750%	5/15/23	10,114		11,053
	Republic Services Inc.	2.500%	8/15/24	7,182		7,400
	Rockwell Collins Inc.	3.100%	11/15/21	1,884		1,933
	Rockwell Collins Inc.	2.800%	3/15/22	17,796		18,306
	Rockwell Collins Inc.	3.700%	12/15/23	6,250		6,733
	Rockwell Collins Inc.	3.200%	3/15/24	16,480		17,577
	Roper Technologies Inc.	3.000%	12/15/20	5,178		5,226
	Roper Technologies Inc.	2.800%	12/15/21	8,230		8,431
	Roper Technologies Inc.	3.125%	11/15/22	6,654		6,912
	Roper Technologies Inc.	3.650%	9/15/23	7,315		7,811
	Roper Technologies Inc.	2.350%	9/15/24	6,750		6,941
	Snap-on Inc.	6.125%	9/1/21	3,000		3,205
	Spirit AeroSystems Inc.	3.950%	6/15/23	918		935
	Stanley Black & Decker Inc.	3.400%	12/1/21	7,205		7,434
	Stanley Black & Decker Inc.	2.900%	11/1/22	7,953		8,247
1	Stanley Black & Decker Inc.	4.000%	3/15/60	1,000		1,000
	Textron Inc.	4.300%	3/1/24	6,871		7,471
	Timken Co.	3.875%	9/1/24	6,705		7,140
	United Technologies Corp.	3.650%	8/16/23	3,926		4,212
	Wabtec Corp.	4.400%	3/15/24	11,669		12,646

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Waste Management Inc.	4.600%	3/1/21	5,907		6,033
Waste Management Inc.	2.900%	9/15/22	8,045		8,326
Waste Management Inc.	2.400%	5/15/23	6,761		6,955
Waste Management Inc.	3.500%	5/15/24	8,080		8,708
Waste Management Inc.	2.950%	6/15/24	11,463		12,100
WW Grainger Inc.	1.850%	2/15/25	7,400		7,494
Xylem Inc.	4.875%	10/1/21	5,970		6,268
Communication (5.1%)
Activision Blizzard Inc.	2.300%	9/15/21	8,825		8,912
Activision Blizzard Inc.	2.600%	6/15/22	7,645		7,811
America Movil SAB de CV	3.125%	7/16/22	26,122		27,028
American Tower Corp.	3.450%	9/15/21	7,678		7,901
American Tower Corp.	2.250%	1/15/22	11,310		11,450
American Tower Corp.	4.700%	3/15/22	10,593		11,242
American Tower Corp.	3.500%	1/31/23	17,544		18,469
American Tower Corp.	3.000%	6/15/23	8,687		9,063
American Tower Corp.	5.000%	2/15/24	18,240		20,468
American Tower Corp.	3.375%	5/15/24	11,934		12,673
American Tower Corp.	2.950%	1/15/25	7,952		8,352
American Tower Corp.	2.400%	3/15/25	2,220		2,279
AT&T Inc.	4.450%	5/15/21	14,772		15,314
AT&T Inc.	3.875%	8/15/21	13,514		14,007
AT&T Inc.	4.000%	1/15/22	6,848		7,158
AT&T Inc.	3.000%	2/15/22	15,531		15,950
AT&T Inc.	3.200%	3/1/22	27,052		27,841
AT&T Inc.	3.800%	3/15/22	16,475		17,097
AT&T Inc.	3.400%	6/15/22	9,965		10,343
AT&T Inc.	3.000%	6/30/22	29,648		30,512
AT&T Inc.	2.625%	12/1/22	10,560		10,843
AT&T Inc.	3.600%	2/17/23	30,958		32,639
AT&T Inc.	4.050%	12/15/23	6,527		7,069
AT&T Inc.	3.800%	3/1/24	17,855		19,164
AT&T Inc.	3.900%	3/11/24	15,202		16,331
AT&T Inc.	4.450%	4/1/24	16,051		17,649
AT&T Inc.	3.550%	6/1/24	10,666		11,380
AT&T Inc.	3.950%	1/15/25	16,063		17,482
British Telecommunications plc	4.500%	12/4/23	8,682		9,522
CC Holdings GS V LLC / Crown Castle GS III Corp.	3.849%	4/15/23	19,473		20,659
Charter Communications Operating LLC / Charter Communications Operating Capital	4.464%	7/23/22	43,940		46,648
Charter Communications Operating LLC / Charter Communications Operating Capital	4.500%	2/1/24	17,958		19,489
Comcast Cable Communications Holdings Inc.	9.455%	11/15/22	15,792		19,127
Comcast Corp.	1.625%	1/15/22	7,527		7,564
Comcast Corp.	3.125%	7/15/22	11,842		12,353
Comcast Corp.	2.850%	1/15/23	2,143		2,235
Comcast Corp.	2.750%	3/1/23	23,784		24,750
Comcast Corp.	3.000%	2/1/24	27,535		29,058
Comcast Corp.	3.600%	3/1/24	17,061		18,418
Comcast Corp.	3.700%	4/15/24	45,392		49,136
Comcast Corp.	3.375%	2/15/25	12,176		13,152
Crown Castle International Corp.	2.250%	9/1/21	13,300		13,412
Crown Castle International Corp.	4.875%	4/15/22	15,848		16,904
Crown Castle International Corp.	5.250%	1/15/23	22,008		24,138
Crown Castle International Corp.	3.150%	7/15/23	6,402		6,670
Crown Castle International Corp.	3.200%	9/1/24	11,700		12,339
Discovery Communications LLC	4.375%	6/15/21	9,218		9,554
Discovery Communications LLC	3.300%	5/15/22	6,910		7,145
Discovery Communications LLC	3.500%	6/15/22	7,493		7,764
Discovery Communications LLC	2.950%	3/20/23	13,920		14,395
Discovery Communications LLC	3.250%	4/1/23	7,288		7,601
Discovery Communications LLC	3.800%	3/13/24	7,120		7,638
Discovery Communications LLC	3.900%	11/15/24	5,789		6,294

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Electronic Arts Inc.	3.700%	3/1/21	6,646		6,786
2	Fox Corp.	3.666%	1/25/22	12,990		13,502
2	Fox Corp.	4.030%	1/25/24	15,825		17,141
	Interpublic Group of Cos. Inc.	3.500%	10/1/20	7,292		7,366
	Interpublic Group of Cos. Inc.	3.750%	10/1/21	7,656		7,889
	Interpublic Group of Cos. Inc.	3.750%	2/15/23	12,178		12,915
	Interpublic Group of Cos. Inc.	4.200%	4/15/24	6,601		7,241
	Moody's Corp.	3.250%	6/7/21	2,778		2,836
	Moody's Corp.	2.750%	12/15/21	7,620		7,779
	Moody's Corp.	4.500%	9/1/22	7,320		7,797
	Moody's Corp.	2.625%	1/15/23	7,008		7,203
	Moody's Corp.	4.875%	2/15/24	7,332		8,168
	NBCUniversal Media LLC	4.375%	4/1/21	27,983		28,913
	NBCUniversal Media LLC	2.875%	1/15/23	20,347		21,244
	Omnicom Group Inc. / Omnicom Capital Inc.	3.625%	5/1/22	24,393		25,441
	Omnicom Group Inc. / Omnicom Capital Inc.	3.650%	11/1/24	12,269		13,180
	Orange SA	4.125%	9/14/21	14,099		14,697
	RELX Capital Inc.	3.500%	3/16/23	16,126		16,998
	Rogers Communications Inc.	3.000%	3/15/23	6,651		6,942
	Rogers Communications Inc.	4.100%	10/1/23	9,509		10,306
	Telefonica Emisiones SAU	4.570%	4/27/23	13,583		14,779
	Thomson Reuters Corp.	4.300%	11/23/23	8,084		8,776
	Time Warner Cable LLC	4.000%	9/1/21	14,319		14,719
	Time Warner Entertainment Co. LP	8.375%	3/15/23	14,286		16,982
	Verizon Communications Inc.	3.450%	3/15/21	14,050		14,328
	Verizon Communications Inc.	4.600%	4/1/21	19,208		19,903
	Verizon Communications Inc.	2.946%	3/15/22	15,300		15,828
	Verizon Communications Inc.	3.125%	3/16/22	18,663		19,373
	Verizon Communications Inc.	2.450%	11/1/22	24,210		24,825
	Verizon Communications Inc.	5.150%	9/15/23	63,960		71,867
	Verizon Communications Inc.	4.150%	3/15/24	2,313		2,523
	Verizon Communications Inc.	3.500%	11/1/24	24,057		25,944
	Verizon Communications Inc.	3.376%	2/15/25	35,000		37,805
	ViacomCBS Inc.	4.500%	3/1/21	3,930		4,041
	ViacomCBS Inc.	3.875%	12/15/21	13,764		14,329
	ViacomCBS Inc.	3.375%	3/1/22	9,206		9,504
	ViacomCBS Inc.	2.500%	2/15/23	6,973		7,142
	ViacomCBS Inc.	2.900%	6/1/23	4,022		4,173
	ViacomCBS Inc.	4.250%	9/1/23	11,722		12,648
	ViacomCBS Inc.	3.875%	4/1/24	12,154		13,106
	ViacomCBS Inc.	3.700%	8/15/24	8,130		8,780
	ViacomCBS Inc.	3.500%	1/15/25	9,604		10,263
	Vodafone Group plc	2.500%	9/26/22	500		510
	Vodafone Group plc	2.950%	2/19/23	4,698		4,889
	Vodafone Group plc	3.750%	1/16/24	45,224		48,528
	Walt Disney Co.	3.750%	6/1/21	8,981		9,252
	Walt Disney Co.	2.750%	8/16/21	8,773		8,963
	Walt Disney Co.	2.550%	2/15/22	8,255		8,454
	Walt Disney Co.	2.450%	3/4/22	11,741		12,017
	Walt Disney Co.	1.650%	9/1/22	4,125		4,167
	Walt Disney Co.	3.000%	9/15/22	15,846		16,495
	Walt Disney Co.	2.350%	12/1/22	16,956		17,457
	Walt Disney Co.	1.750%	8/30/24	11,600		11,738
	Walt Disney Co.	3.700%	9/15/24	12,165		13,284
	Weibo Corp.	3.500%	7/5/24	12,250		12,809
	WPP Finance 2010	3.625%	9/7/22	7,615		7,964
	WPP Finance 2010	3.750%	9/19/24	11,097		11,883
	Consumer Cyclical (8.1%)
	Advance Auto Parts Inc.	4.500%	1/15/22	5,153		5,383
	Advance Auto Parts Inc.	4.500%	12/1/23	6,524		7,147
	Alibaba Group Holding Ltd.	3.125%	11/28/21	17,349		17,808
	Alibaba Group Holding Ltd.	2.800%	6/6/23	13,630		14,073
	Alibaba Group Holding Ltd.	3.600%	11/28/24	25,960		27,897

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Amazon.com Inc.	3.300%	12/5/21	12,819		13,230
Amazon.com Inc.	2.500%	11/29/22	22,309		22,972
Amazon.com Inc.	2.400%	2/22/23	11,897		12,261
Amazon.com Inc.	2.800%	8/22/24	25,512		26,920
Amazon.com Inc.	3.800%	12/5/24	16,730		18,427
American Honda Finance Corp.	3.150%	1/8/21	4,450		4,516
American Honda Finance Corp.	1.650%	7/12/21	15,632		15,685
American Honda Finance Corp.	1.700%	9/9/21	15,019		15,065
American Honda Finance Corp.	3.375%	12/10/21	5,919		6,121
American Honda Finance Corp.	1.950%	5/20/22	7,000		7,087
American Honda Finance Corp.	2.200%	6/27/22	11,825		12,040
American Honda Finance Corp.	2.600%	11/16/22	11,281		11,629
American Honda Finance Corp.	2.050%	1/10/23	11,052		11,183
American Honda Finance Corp.	1.950%	5/10/23	14,620		14,740
American Honda Finance Corp.	3.450%	7/14/23	3,886		4,142
American Honda Finance Corp.	3.625%	10/10/23	9,561		10,255
American Honda Finance Corp.	3.550%	1/12/24	9,160		9,845
American Honda Finance Corp.	2.900%	2/16/24	10,003		10,492
American Honda Finance Corp.	2.400%	6/27/24	10,420		10,756
American Honda Finance Corp.	2.150%	9/10/24	14,186		14,488
Aptiv Corp.	4.150%	3/15/24	9,873		10,692
AutoNation Inc.	3.500%	11/15/24	8,243		8,690
AutoZone Inc.	3.700%	4/15/22	9,908		10,308
AutoZone Inc.	2.875%	1/15/23	7,308		7,541
AutoZone Inc.	3.125%	7/15/23	8,575		8,962
AutoZone Inc.	3.125%	4/18/24	2,900		3,051
Best Buy Co. Inc.	5.500%	3/15/21	4,306		4,451
Block Financial LLC	5.500%	11/1/22	7,734		8,397
Booking Holdings Inc.	2.750%	3/15/23	9,507		9,837
Choice Hotels International Inc.	5.750%	7/1/22	4,690		5,099
Costco Wholesale Corp.	2.150%	5/18/21	10,640		10,734
Costco Wholesale Corp.	2.250%	2/15/22	9,145		9,311
Costco Wholesale Corp.	2.300%	5/18/22	8,384		8,562
Costco Wholesale Corp.	2.750%	5/18/24	18,636		19,709
Cummins Inc.	3.650%	10/1/23	7,793		8,382
Dollar General Corp.	3.250%	4/15/23	10,289		10,767
Dollar Tree Inc.	3.700%	5/15/23	13,970		14,817
DR Horton Inc.	2.550%	12/1/20	6,245		6,294
DR Horton Inc.	4.375%	9/15/22	5,906		6,252
DR Horton Inc.	4.750%	2/15/23	4,330		4,675
DR Horton Inc.	5.750%	8/15/23	8,535		9,498
DR Horton Inc.	2.500%	10/15/24	3,845		3,962
eBay Inc.	2.875%	8/1/21	11,119		11,293
eBay Inc.	3.800%	3/9/22	15,649		16,276
eBay Inc.	2.600%	7/15/22	9,028		9,230
eBay Inc.	2.750%	1/30/23	10,975		11,278
eBay Inc.	3.450%	8/1/24	11,265		11,943
Expedia Group Inc.	4.500%	8/15/24	7,237		7,866
Ford Motor Credit Co. LLC	2.343%	11/2/20	12,750		12,792
Ford Motor Credit Co. LLC	3.336%	3/18/21	28,933		29,200
Ford Motor Credit Co. LLC	3.470%	4/5/21	1,555		1,568
Ford Motor Credit Co. LLC	5.875%	8/2/21	29,304		30,606
Ford Motor Credit Co. LLC	3.813%	10/12/21	18,027		18,402
Ford Motor Credit Co. LLC	5.596%	1/7/22	15,475		16,256
Ford Motor Credit Co. LLC	3.219%	1/9/22	18,290		18,441
Ford Motor Credit Co. LLC	3.339%	3/28/22	9,421		9,515
Ford Motor Credit Co. LLC	2.979%	8/3/22	22,250		22,391
Ford Motor Credit Co. LLC	4.250%	9/20/22	12,630		12,895
Ford Motor Credit Co. LLC	3.350%	11/1/22	19,000		19,154
Ford Motor Credit Co. LLC	3.087%	1/9/23	19,000		18,992
Ford Motor Credit Co. LLC	4.140%	2/15/23	5,550		5,700
Ford Motor Credit Co. LLC	3.096%	5/4/23	21,698		21,472
Ford Motor Credit Co. LLC	4.375%	8/6/23	19,374		19,967
Ford Motor Credit Co. LLC	3.810%	1/9/24	17,504		17,808

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	Market Value ($000
Ford Motor Credit Co. LLC	5.584%	3/18/24	17,184	18,177
Ford Motor Credit Co. LLC	3.664%	9/8/24	8,647	8,746
Ford Motor Credit Co. LLC	4.063%	11/1/24	27,771	28,019
General Motors Co.	4.875%	10/2/23	28,866	31,259
General Motors Financial Co. Inc.	4.200%	3/1/21	22,354	22,683
General Motors Financial Co. Inc.	3.550%	4/9/21	16,368	16,627
General Motors Financial Co. Inc.	3.200%	7/6/21	32,449	32,907
General Motors Financial Co. Inc.	4.375%	9/25/21	17,275	17,857
General Motors Financial Co. Inc.	4.200%	11/6/21	12,160	12,557
General Motors Financial Co. Inc.	3.450%	1/14/22	28,231	28,977
General Motors Financial Co. Inc.	3.450%	4/10/22	25,342	25,984
General Motors Financial Co. Inc.	3.150%	6/30/22	15,905	16,182
General Motors Financial Co. Inc.	3.550%	7/8/22	17,153	17,685
General Motors Financial Co. Inc.	3.250%	1/5/23	7,375	7,584
General Motors Financial Co. Inc.	3.700%	5/9/23	19,559	20,404
General Motors Financial Co. Inc.	4.250%	5/15/23	9,231	9,805
General Motors Financial Co. Inc.	4.150%	6/19/23	20,612	21,847
General Motors Financial Co. Inc.	5.100%	1/17/24	25,450	27,742
General Motors Financial Co. Inc.	3.950%	4/13/24	23,546	24,928
General Motors Financial Co. Inc.	3.500%	11/7/24	12,951	13,385
General Motors Financial Co. Inc.	4.000%	1/15/25	2,365	2,499
General Motors Financial Co. Inc.	2.900%	2/26/25	9,204	9,239
GLP Capital LP / GLP Financing II Inc.	4.375%	4/15/21	5,358	5,465
GLP Capital LP / GLP Financing II Inc.	5.375%	11/1/23	6,392	7,033
GLP Capital LP / GLP Financing II Inc.	3.350%	9/1/24	9,250	9,765
Home Depot Inc.	2.000%	4/1/21	19,224	19,358
Home Depot Inc.	4.400%	4/1/21	14,061	14,398
Home Depot Inc.	3.250%	3/1/22	16,368	17,029
Home Depot Inc.	2.625%	6/1/22	18,565	19,077
Home Depot Inc.	2.700%	4/1/23	18,369	19,134
Home Depot Inc.	3.750%	2/15/24	18,456	20,131
Hyatt Hotels Corp.	5.375%	8/15/21	2,125	2,206
Hyatt Hotels Corp.	3.375%	7/15/23	3,261	3,422
IHS Markit Ltd.	4.125%	8/1/23	6,789	7,281
IHS Markit Ltd.	3.625%	5/1/24	6,600	6,980
JD.com Inc.	3.125%	4/29/21	7,554	7,656
Kohl's Corp.	3.250%	2/1/23	5,425	5,550
Las Vegas Sands Corp.	3.200%	8/8/24	26,802	27,783
Lear Corp.	5.250%	1/15/25	5,053	5,193
Lowe's Cos. Inc.	3.750%	4/15/21	5,825	5,938
Lowe's Cos. Inc.	3.800%	11/15/21	8,236	8,514
Lowe's Cos. Inc.	3.120%	4/15/22	12,767	13,137
Lowe's Cos. Inc.	3.875%	9/15/23	7,711	8,308
Lowe's Cos. Inc.	3.125%	9/15/24	5,956	6,334
Macy's Retail Holdings Inc.	3.450%	1/15/21	2,200	2,221
Macy's Retail Holdings Inc.	3.875%	1/15/22	4,529	4,631
Macy's Retail Holdings Inc.	2.875%	2/15/23	11,325	11,349
Macy's Retail Holdings Inc.	3.625%	6/1/24	13,203	13,397
Magna International Inc.	3.625%	6/15/24	4,758	5,133
Marriott International Inc.	2.875%	3/1/21	7,190	7,279
Marriott International Inc.	3.125%	10/15/21	5,277	5,386
Marriott International Inc.	2.300%	1/15/22	12,837	13,008
Marriott International Inc.	3.250%	9/15/22	6,400	6,646
Marriott International Inc.	2.125%	10/3/22	8,722	8,835
Marriott International Inc.	4.150%	12/1/23	1,335	1,450
Marriott International Inc.	3.600%	4/15/24	11,275	12,070
Mastercard Inc.	2.000%	11/21/21	11,487	11,641
Mastercard Inc.	3.375%	4/1/24	21,337	23,204
McDonald's Corp.	2.750%	12/9/20	12,448	12,541
McDonald's Corp.	3.625%	5/20/21	7,854	8,057
McDonald's Corp.	2.625%	1/15/22	11,844	12,104
McDonald's Corp.	3.350%	4/1/23	12,022	12,661
McDonald's Corp.	3.250%	6/10/24	3,136	3,366
NIKE Inc.	2.250%	5/1/23	13,737	14,127

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Nordstrom Inc.	4.000%	10/15/21	7,557		7,786
NVR Inc.	3.950%	9/15/22	9,253		9,787
O'Reilly Automotive Inc.	4.625%	9/15/21	3,427		3,564
O'Reilly Automotive Inc.	3.800%	9/1/22	6,439		6,764
O'Reilly Automotive Inc.	3.850%	6/15/23	4,643		4,956
PACCAR Financial Corp.	2.050%	11/13/20	7,910		7,947
PACCAR Financial Corp.	2.250%	2/25/21	2,680		2,706
PACCAR Financial Corp.	2.800%	3/1/21	3,048		3,098
PACCAR Financial Corp.	3.150%	8/9/21	10,483		10,776
PACCAR Financial Corp.	2.850%	3/1/22	5,135		5,308
PACCAR Financial Corp.	2.650%	5/10/22	7,609		7,860
PACCAR Financial Corp.	2.000%	9/26/22	6,920		7,068
PACCAR Financial Corp.	3.400%	8/9/23	5,372		5,716
PACCAR Financial Corp.	2.150%	8/15/24	1,206		1,247
PACCAR Financial Corp.	1.800%	2/6/25	5,035		5,146
QVC Inc.	5.125%	7/2/22	8,763		9,157
QVC Inc.	4.375%	3/15/23	9,114		9,479
QVC Inc.	4.850%	4/1/24	12,220		12,739
QVC Inc.	4.450%	2/15/25	7,066		7,190
Royal Caribbean Cruises Ltd.	5.250%	11/15/22	10,050		10,791
Sands China Ltd.	4.600%	8/8/23	23,370		25,006
Starbucks Corp.	2.200%	11/22/20	6,300		6,334
Starbucks Corp.	2.700%	6/15/22	8,420		8,641
Starbucks Corp.	3.100%	3/1/23	20,725		21,708
Starbucks Corp.	3.850%	10/1/23	8,013		8,614
Tapestry Inc.	3.000%	7/15/22	6,100		6,244
Target Corp.	2.900%	1/15/22	18,444		19,027
Target Corp.	3.500%	7/1/24	11,575		12,652
TJX Cos. Inc.	2.750%	6/15/21	12,665		12,865
TJX Cos. Inc.	2.500%	5/15/23	15,252		15,723
Toyota Motor Corp.	3.183%	7/20/21	9,730		9,931
Toyota Motor Corp.	2.157%	7/2/22	8,600		8,754
Toyota Motor Corp.	3.419%	7/20/23	12,516		13,314
Toyota Motor Corp.	2.358%	7/2/24	2,625		2,714
Toyota Motor Credit Corp.	1.900%	4/8/21	20,047		20,186
Toyota Motor Credit Corp.	2.950%	4/13/21	22,146		22,525
Toyota Motor Credit Corp.	2.750%	5/17/21	7,708		7,846
Toyota Motor Credit Corp.	3.400%	9/15/21	13,405		13,804
Toyota Motor Credit Corp.	1.800%	10/7/21	4,485		4,523
Toyota Motor Credit Corp.	2.600%	1/11/22	16,015		16,378
Toyota Motor Credit Corp.	3.300%	1/12/22	11,696		12,063
Toyota Motor Credit Corp.	2.650%	4/12/22	11,093		11,398
Toyota Motor Credit Corp.	2.800%	7/13/22	17,851		18,435
Toyota Motor Credit Corp.	2.150%	9/8/22	15,057		15,335
Toyota Motor Credit Corp.	2.625%	1/10/23	12,130		12,564
Toyota Motor Credit Corp.	2.700%	1/11/23	19,950		20,659
Toyota Motor Credit Corp.	3.450%	9/20/23	7,975		8,528
Toyota Motor Credit Corp.	2.250%	10/18/23	6,775		6,929
Toyota Motor Credit Corp.	3.350%	1/8/24	7,250		7,748
Toyota Motor Credit Corp.	2.900%	4/17/24	10,529		11,079
Toyota Motor Credit Corp.	2.000%	10/7/24	5,200		5,324
Toyota Motor Credit Corp.	1.800%	2/13/25	4,850		4,885
VF Corp.	3.500%	9/1/21	6,205		6,386
Visa Inc.	2.150%	9/15/22	20,067		20,488
Visa Inc.	2.800%	12/14/22	31,671		32,878
Walgreen Co.	3.100%	9/15/22	21,551		22,257
Walgreens Boots Alliance Inc.	3.300%	11/18/21	17,268		17,727
Walgreens Boots Alliance Inc.	3.800%	11/18/24	30,191		32,172
Walmart Inc.	1.900%	12/15/20	12,414		12,455
Walmart Inc.	3.125%	6/23/21	29,558		30,244
Walmart Inc.	2.350%	12/15/22	20,736		21,333
Walmart Inc.	2.550%	4/11/23	17,955		18,595
Walmart Inc.	3.400%	6/26/23	29,654		31,631
Walmart Inc.	3.300%	4/22/24	13,544		14,504

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Walmart Inc.	2.850%	7/8/24	43,400		45,893
	Walmart Inc.	2.650%	12/15/24	15,803		16,688
	Western Union Co.	3.600%	3/15/22	11,502		11,934
	Western Union Co.	2.850%	1/10/25	8,774		8,999
	Consumer Noncyclical (13.4%)
	Abbott Laboratories	2.550%	3/15/22	11,762		12,059
	Abbott Laboratories	3.400%	11/30/23	19,489		20,895
	AbbVie Inc.	2.300%	5/14/21	17,275		17,425
	AbbVie Inc.	3.375%	11/14/21	21,047		21,743
2	AbbVie Inc.	2.150%	11/19/21	30,500		30,821
	AbbVie Inc.	2.900%	11/6/22	50,952		52,724
	AbbVie Inc.	3.200%	11/6/22	21,412		22,324
2	AbbVie Inc.	2.300%	11/21/22	47,060		47,850
	AbbVie Inc.	2.850%	5/14/23	12,303		12,751
	AbbVie Inc.	3.750%	11/14/23	28,925		30,990
2	AbbVie Inc.	2.600%	11/21/24	57,305		59,175
	Actavis Inc.	3.250%	10/1/22	35,459		36,893
	Agilent Technologies Inc.	3.200%	10/1/22	6,776		7,024
	Agilent Technologies Inc.	3.875%	7/15/23	8,576		9,123
	Allergan Funding SCS	3.450%	3/15/22	29,452		30,509
	Allergan Funding SCS	3.850%	6/15/24	16,154		17,450
	Allergan Inc.	2.800%	3/15/23	9,612		9,866
	Altria Group Inc.	4.750%	5/5/21	16,129		16,757
	Altria Group Inc.	3.490%	2/14/22	15,300		15,841
	Altria Group Inc.	2.850%	8/9/22	29,701		30,503
	Altria Group Inc.	2.950%	5/2/23	6,264		6,493
	Altria Group Inc.	4.000%	1/31/24	25,017		27,009
	Altria Group Inc.	3.800%	2/14/24	16,167		17,305
	AmerisourceBergen Corp.	3.500%	11/15/21	8,065		8,317
	AmerisourceBergen Corp.	3.400%	5/15/24	7,972		8,533
	Amgen Inc.	4.100%	6/15/21	10,307		10,614
	Amgen Inc.	1.850%	8/19/21	19,686		19,892
	Amgen Inc.	3.875%	11/15/21	23,234		24,116
	Amgen Inc.	2.700%	5/1/22	8,038		8,256
	Amgen Inc.	2.650%	5/11/22	23,836		24,400
	Amgen Inc.	3.625%	5/15/22	5,872		6,112
	Amgen Inc.	2.250%	8/19/23	12,112		12,461
	Amgen Inc.	3.625%	5/22/24	23,557		25,303
	Amgen Inc.	1.900%	2/21/25	4,285		4,333
	Anheuser-Busch InBev Finance Inc.	2.625%	1/17/23	4,037		4,172
	Anheuser-Busch InBev Finance Inc.	3.300%	2/1/23	44,918		47,207
	Anheuser-Busch InBev Finance Inc.	3.700%	2/1/24	14,997		16,120
	Anheuser-Busch InBev Worldwide Inc.	4.375%	2/15/21	8,525		8,763
	Anheuser-Busch InBev Worldwide Inc.	2.500%	7/15/22	8,784		9,013
	Anheuser-Busch InBev Worldwide Inc.	3.500%	1/12/24	13,014		13,937
	Anheuser-Busch InBev Worldwide Inc.	4.150%	1/23/25	41,516		46,264
2	Anheuser-Busch North American Holding Corp.	3.750%	1/15/22	750		774
	Archer-Daniels-Midland Co.	4.479%	3/1/21	5,018		5,164
	Archer-Daniels-Midland Co.	3.375%	3/15/22	4,744		4,921
	AstraZeneca plc	2.375%	6/12/22	16,435		16,786
	AstraZeneca plc	3.500%	8/17/23	16,914		18,056
	BAT Capital Corp.	2.764%	8/15/22	23,262		23,824
	BAT Capital Corp.	3.222%	8/15/24	47,554		49,900
	BAT Capital Corp.	2.789%	9/6/24	17,985		18,531
	Baxter International Inc.	1.700%	8/15/21	5,808		5,849
	Beam Suntory Inc.	3.250%	5/15/22	3,703		3,810
	Becton Dickinson & Co.	3.125%	11/8/21	15,709		16,099
	Becton Dickinson & Co.	2.894%	6/6/22	30,719		31,584
	Becton Dickinson & Co.	3.363%	6/6/24	29,218		31,051
	Becton Dickinson & Co.	3.734%	12/15/24	24,454		26,719
	Biogen Inc.	3.625%	9/15/22	9,967		10,514
	Boston Scientific Corp.	3.375%	5/15/22	5,620		5,862
	Boston Scientific Corp.	3.450%	3/1/24	14,932		15,975

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
2	Bristol-Myers Squibb Co.	2.875%	2/19/21	10,875		11,015
2	Bristol-Myers Squibb Co.	2.550%	5/14/21	17,888		18,128
2	Bristol-Myers Squibb Co.	2.250%	8/15/21	2,695		2,725
2	Bristol-Myers Squibb Co.	2.600%	5/16/22	20,662		21,186
	Bristol-Myers Squibb Co.	2.000%	8/1/22	12,076		12,285
2	Bristol-Myers Squibb Co.	3.250%	8/15/22	15,134		15,768
2	Bristol-Myers Squibb Co.	3.550%	8/15/22	15,201		16,036
2	Bristol-Myers Squibb Co.	2.750%	2/15/23	18,768		19,465
2	Bristol-Myers Squibb Co.	3.250%	2/20/23	5,180		5,406
	Bristol-Myers Squibb Co.	7.150%	6/15/23	1,425		1,690
2	Bristol-Myers Squibb Co.	4.000%	8/15/23	9,795		10,665
	Bristol-Myers Squibb Co.	3.250%	11/1/23	8,705		9,335
2	Bristol-Myers Squibb Co.	3.625%	5/15/24	17,159		18,596
2	Bristol-Myers Squibb Co.	2.900%	7/26/24	42,300		44,566
	Bunge Ltd. Finance Corp.	3.000%	9/25/22	6,999		7,230
	Bunge Ltd. Finance Corp.	4.350%	3/15/24	8,450		9,115
	Campbell Soup Co.	2.500%	8/2/22	12,057		12,255
	Campbell Soup Co.	3.650%	3/15/23	4,135		4,355
	Cardinal Health Inc.	2.616%	6/15/22	10,740		11,000
	Cardinal Health Inc.	3.200%	3/15/23	10,659		11,213
	Cardinal Health Inc.	3.079%	6/15/24	7,641		7,941
	Cardinal Health Inc.	3.500%	11/15/24	5,748		6,180
	Church & Dwight Co. Inc.	2.450%	8/1/22	7,398		7,530
	Church & Dwight Co. Inc.	2.875%	10/1/22	3,233		3,330
	Cigna Corp.	3.400%	9/17/21	24,883		25,626
2	Cigna Corp.	4.750%	11/15/21	9,631		10,167
2	Cigna Corp.	3.900%	2/15/22	5,118		5,338
2	Cigna Corp.	4.000%	2/15/22	7,665		7,984
2	Cigna Corp.	3.050%	11/30/22	16,171		16,752
2	Cigna Corp.	3.000%	7/15/23	20,005		20,774
	Cigna Corp.	3.750%	7/15/23	25,482		27,203
2	Cigna Corp.	3.500%	6/15/24	15,510		16,453
	Clorox Co.	3.800%	11/15/21	3,454		3,593
	Clorox Co.	3.050%	9/15/22	10,123		10,495
	Clorox Co.	3.500%	12/15/24	7,936		8,579
	Coca-Cola Co.	1.550%	9/1/21	17,789		17,853
	Coca-Cola Co.	3.300%	9/1/21	20,116		20,719
	Coca-Cola Co.	2.200%	5/25/22	10,010		10,238
	Coca-Cola Co.	2.500%	4/1/23	11,243		11,674
	Coca-Cola Co.	3.200%	11/1/23	25,910		27,712
	Coca-Cola Co.	1.750%	9/6/24	9,100		9,266
	Coca-Cola European Partners plc	3.250%	8/19/21	674		689
	Colgate-Palmolive Co.	2.450%	11/15/21	5,685		5,810
	Colgate-Palmolive Co.	2.300%	5/3/22	6,220		6,361
	Colgate-Palmolive Co.	2.250%	11/15/22	6,478		6,650
	Colgate-Palmolive Co.	1.950%	2/1/23	1,485		1,514
	Colgate-Palmolive Co.	2.100%	5/1/23	7,332		7,516
	Colgate-Palmolive Co.	3.250%	3/15/24	9,159		9,848
	CommonSpirit Health	2.950%	11/1/22	6,967		7,227
	CommonSpirit Health	2.760%	10/1/24	11,230		11,797
	Conagra Brands Inc.	3.800%	10/22/21	23,112		23,914
	Conagra Brands Inc.	3.250%	9/15/22	1,200		1,242
	Conagra Brands Inc.	3.200%	1/25/23	8,025		8,322
	Conagra Brands Inc.	4.300%	5/1/24	18,409		20,032
	Constellation Brands Inc.	3.750%	5/1/21	7,803		7,998
	Constellation Brands Inc.	2.700%	5/9/22	10,328		10,561
	Constellation Brands Inc.	2.650%	11/7/22	11,174		11,454
	Constellation Brands Inc.	3.200%	2/15/23	7,554		7,893
	Constellation Brands Inc.	4.250%	5/1/23	14,136		15,199
	Constellation Brands Inc.	4.750%	11/15/24	7,325		8,280
	Covidien International Finance SA	3.200%	6/15/22	10,563		10,928
	Covidien International Finance SA	2.950%	6/15/23	3,280		3,429
	CVS Health Corp.	3.350%	3/9/21	38,834		39,588
	CVS Health Corp.	2.125%	6/1/21	25,613		25,759

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
CVS Health Corp.	3.500%	7/20/22	22,366		23,337
CVS Health Corp.	2.750%	12/1/22	22,521		23,185
CVS Health Corp.	4.750%	12/1/22	4,619		4,992
CVS Health Corp.	3.700%	3/9/23	90,862		95,930
CVS Health Corp.	4.000%	12/5/23	21,828		23,502
CVS Health Corp.	3.375%	8/12/24	20,516		21,777
CVS Health Corp.	2.625%	8/15/24	6,146		6,344
CVS Health Corp.	4.100%	3/25/25	225		246
DH Europe Finance II Sarl	2.050%	11/15/22	7,950		8,067
DH Europe Finance II Sarl	2.200%	11/15/24	13,583		13,951
Diageo Capital plc	2.625%	4/29/23	17,665		18,288
Diageo Capital plc	3.500%	9/18/23	5,750		6,134
Diageo Capital plc	2.125%	10/24/24	9,000		9,260
Diageo Investment Corp.	2.875%	5/11/22	19,842		20,405
Dignity Health	3.125%	11/1/22	4,389		4,568
Eli Lilly & Co.	2.350%	5/15/22	11,030		11,268
Estee Lauder Cos. Inc.	1.700%	5/10/21	7,219		7,252
Estee Lauder Cos. Inc.	2.000%	12/1/24	9,391		9,620
Flowers Foods Inc.	4.375%	4/1/22	2,850		2,989
Fomento Economico Mexicano SAB de CV	2.875%	5/10/23	3,000		3,091
General Mills Inc.	3.200%	4/16/21	12,200		12,434
General Mills Inc.	3.150%	12/15/21	17,316		17,732
General Mills Inc.	2.600%	10/12/22	9,816		10,086
General Mills Inc.	3.700%	10/17/23	13,626		14,639
General Mills Inc.	3.650%	2/15/24	3,989		4,274
Gilead Sciences Inc.	4.500%	4/1/21	16,546		17,056
Gilead Sciences Inc.	4.400%	12/1/21	20,589		21,531
Gilead Sciences Inc.	1.950%	3/1/22	300		303
Gilead Sciences Inc.	3.250%	9/1/22	22,541		23,550
Gilead Sciences Inc.	2.500%	9/1/23	15,823		16,401
Gilead Sciences Inc.	3.700%	4/1/24	30,177		32,419
Gilead Sciences Inc.	3.500%	2/1/25	27,225		29,425
GlaxoSmithKline Capital Inc.	2.800%	3/18/23	22,015		23,004
GlaxoSmithKline Capital Inc.	3.375%	5/15/23	22,790		24,090
GlaxoSmithKline Capital plc	3.125%	5/14/21	20,532		21,012
GlaxoSmithKline Capital plc	2.850%	5/8/22	20,371		20,991
GlaxoSmithKline Capital plc	2.875%	6/1/22	29,600		30,624
GlaxoSmithKline Capital plc	3.000%	6/1/24	16,433		17,570
Hasbro Inc.	3.150%	5/15/21	4,500		4,570
Hasbro Inc.	3.000%	11/19/24	2,840		2,947
HCA Inc.	4.750%	5/1/23	23,481		25,242
HCA Inc.	5.000%	3/15/24	23,888		26,396
Hershey Co.	3.100%	5/15/21	9,767		9,970
Hershey Co.	2.625%	5/1/23	750		774
Hershey Co.	3.375%	5/15/23	6,081		6,470
Hershey Co.	2.050%	11/15/24	2,461		2,532
JM Smucker Co.	3.500%	10/15/21	7,870		8,111
JM Smucker Co.	3.000%	3/15/22	9,757		10,024
Johnson & Johnson	1.950%	11/10/20	7,765		7,791
Johnson & Johnson	1.650%	3/1/21	22,840		22,903
Johnson & Johnson	3.550%	5/15/21	4,239		4,365
Johnson & Johnson	2.450%	12/5/21	3,991		4,084
Johnson & Johnson	2.250%	3/3/22	12,426		12,650
Johnson & Johnson	2.050%	3/1/23	6,290		6,441
Johnson & Johnson	6.730%	11/15/23	50		60
Johnson & Johnson	3.375%	12/5/23	12,841		13,949
Johnson & Johnson	2.625%	1/15/25	8,663		9,151
Kaiser Foundation Hospitals	3.500%	4/1/22	4,847		5,065
Kellogg Co.	3.125%	5/17/22	2,995		3,092
Kellogg Co.	2.650%	12/1/23	9,392		9,745
Keurig Dr Pepper Inc.	3.551%	5/25/21	25,652		26,272
Keurig Dr Pepper Inc.	2.530%	11/15/21	1,000		1,013
Keurig Dr Pepper Inc.	4.057%	5/25/23	20,730		22,263
Keurig Dr Pepper Inc.	3.130%	12/15/23	12,123		12,730

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Kimberly-Clark Corp.	2.400%	3/1/22	3,246		3,322
	Kimberly-Clark Corp.	2.400%	6/1/23	5,057		5,274
	Kraft Heinz Foods Co.	3.500%	7/15/22	3,513		3,582
	Kraft Heinz Foods Co.	4.000%	6/15/23	5,921		6,165
	Kroger Co.	2.950%	11/1/21	4,672		4,776
	Kroger Co.	3.400%	4/15/22	11,200		11,603
	Kroger Co.	2.800%	8/1/22	1,806		1,858
	Kroger Co.	3.850%	8/1/23	11,104		11,896
	Kroger Co.	4.000%	2/1/24	7,700		8,339
	Laboratory Corp. of America Holdings	3.200%	2/1/22	5,662		5,796
	Laboratory Corp. of America Holdings	3.750%	8/23/22	8,782		9,251
	Laboratory Corp. of America Holdings	4.000%	11/1/23	3,028		3,272
	Laboratory Corp. of America Holdings	3.250%	9/1/24	9,077		9,707
	Laboratory Corp. of America Holdings	2.300%	12/1/24	7,660		7,860
	Laboratory Corp. of America Holdings	3.600%	2/1/25	17,168		18,541
	McCormick & Co. Inc.	3.900%	7/15/21	2,755		2,832
	McCormick & Co. Inc.	2.700%	8/15/22	9,472		9,702
	McCormick & Co. Inc.	3.150%	8/15/24	12,173		12,926
	McKesson Corp.	2.700%	12/15/22	3,700		3,828
	McKesson Corp.	2.850%	3/15/23	9,835		10,158
	McKesson Corp.	3.796%	3/15/24	15,547		16,669
	Medtronic Inc.	3.150%	3/15/22	19,509		20,211
	Medtronic Inc.	2.750%	4/1/23	5,899		6,156
	Medtronic Inc.	3.625%	3/15/24	200		216
	Merck & Co. Inc.	2.350%	2/10/22	21,738		22,253
	Merck & Co. Inc.	2.400%	9/15/22	20,350		20,981
	Merck & Co. Inc.	2.800%	5/18/23	28,151		29,421
	Merck & Co. Inc.	2.900%	3/7/24	9,100		9,643
	Merck & Co. Inc.	2.750%	2/10/25	36,607		38,795
	Molson Coors Beverage Co.	2.100%	7/15/21	20,263		20,376
	Molson Coors Beverage Co.	3.500%	5/1/22	4,237		4,390
2	Mondelez International Holdings Netherlands BV	2.125%	9/19/22	6,150		6,256
	Mondelez International Inc.	3.625%	5/7/23	8,509		9,040
	Mondelez International Inc.	4.000%	2/1/24	8,244		8,963
	Mylan Inc.	4.200%	11/29/23	8,140		8,786
	Mylan NV	3.150%	6/15/21	18,946		19,253
	Novartis Capital Corp.	2.400%	5/17/22	12,165		12,472
	Novartis Capital Corp.	2.400%	9/21/22	27,802		28,604
	Novartis Capital Corp.	3.400%	5/6/24	33,591		36,280
	Novartis Capital Corp.	1.750%	2/14/25	11,000		11,186
	PepsiCo Inc.	2.000%	4/15/21	13,435		13,526
	PepsiCo Inc.	3.000%	8/25/21	14,115		14,467
	PepsiCo Inc.	1.700%	10/6/21	18,835		18,970
	PepsiCo Inc.	2.750%	3/5/22	21,654		22,294
	PepsiCo Inc.	2.250%	5/2/22	6,940		7,084
	PepsiCo Inc.	3.100%	7/17/22	19,212		19,949
	PepsiCo Inc.	2.750%	3/1/23	15,172		15,798
	PepsiCo Inc.	3.600%	3/1/24	15,932		17,257
	Perrigo Finance Unlimited Co.	3.500%	12/15/21	4,044		4,137
	Perrigo Finance Unlimited Co.	3.900%	12/15/24	10,460		11,031
	Pfizer Inc.	1.950%	6/3/21	25,299		25,576
	Pfizer Inc.	3.000%	9/15/21	11,770		12,071
	Pfizer Inc.	2.200%	12/15/21	19,498		19,827
	Pfizer Inc.	2.800%	3/11/22	12,410		12,798
	Pfizer Inc.	3.000%	6/15/23	15,096		15,961
	Pfizer Inc.	5.800%	8/12/23	1,634		1,873
	Pfizer Inc.	3.200%	9/15/23	11,700		12,424
	Pfizer Inc.	2.950%	3/15/24	5,175		5,476
	Pfizer Inc.	3.400%	5/15/24	16,543		17,894
	Philip Morris International Inc.	1.875%	2/25/21	9,245		9,270
	Philip Morris International Inc.	4.125%	5/17/21	6,200		6,392
	Philip Morris International Inc.	2.900%	11/15/21	8,848		9,064
	Philip Morris International Inc.	2.625%	2/18/22	10,853		11,080
	Philip Morris International Inc.	2.375%	8/17/22	10,408		10,600

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Philip Morris International Inc.	2.500%	8/22/22	7,614		7,823
	Philip Morris International Inc.	2.500%	11/2/22	12,996		13,356
	Philip Morris International Inc.	2.625%	3/6/23	9,062		9,335
	Philip Morris International Inc.	2.125%	5/10/23	10,490		10,690
	Philip Morris International Inc.	3.600%	11/15/23	4,010		4,298
	Philip Morris International Inc.	2.875%	5/1/24	9,335		9,803
	Philip Morris International Inc.	3.250%	11/10/24	14,541		15,514
1	Procter & Gamble - Esop	9.360%	1/1/21	311		323
	Procter & Gamble Co.	1.850%	2/2/21	8,755		8,796
	Procter & Gamble Co.	1.700%	11/3/21	14,973		15,088
	Procter & Gamble Co.	2.300%	2/6/22	15,294		15,610
	Procter & Gamble Co.	2.150%	8/11/22	6,142		6,270
	Procter & Gamble Co.	3.100%	8/15/23	20,029		21,290
	Quest Diagnostics Inc.	4.700%	4/1/21	5,574		5,777
	Quest Diagnostics Inc.	4.250%	4/1/24	5,867		6,458
	Reynolds American Inc.	4.000%	6/12/22	7,546		7,932
	Reynolds American Inc.	4.850%	9/15/23	14,981		16,534
	Sanofi	4.000%	3/29/21	27,679		28,511
	Sanofi	3.375%	6/19/23	17,393		18,538
	Shire Acquisitions Investments Ireland DAC	2.400%	9/23/21	52,758		53,438
	Shire Acquisitions Investments Ireland DAC	2.875%	9/23/23	42,803		44,416
	SSM Health Care Corp.	3.688%	6/1/23	7,575		8,098
	Stryker Corp.	2.625%	3/15/21	10,771		10,898
	Stryker Corp.	3.375%	5/15/24	9,125		9,800
	Sysco Corp.	2.500%	7/15/21	7,124		7,217
	Sysco Corp.	2.600%	6/12/22	7,208		7,374
	Takeda Pharmaceutical Co. Ltd.	4.000%	11/26/21	21,655		22,558
	Takeda Pharmaceutical Co. Ltd.	4.400%	11/26/23	20,310		22,271
	Thermo Fisher Scientific Inc.	3.000%	4/15/23	24,021		25,132
	Thermo Fisher Scientific Inc.	4.150%	2/1/24	10,388		11,431
	Tyson Foods Inc.	2.250%	8/23/21	14,473		14,631
	Tyson Foods Inc.	4.500%	6/15/22	22,134		23,412
	Tyson Foods Inc.	3.900%	9/28/23	4,683		5,052
	Tyson Foods Inc.	3.950%	8/15/24	18,165		19,830
	Unilever Capital Corp.	2.750%	3/22/21	6,806		6,902
	Unilever Capital Corp.	1.375%	7/28/21	11,537		11,575
	Unilever Capital Corp.	3.000%	3/7/22	11,450		11,865
	Unilever Capital Corp.	2.200%	5/5/22	10,026		10,247
	Unilever Capital Corp.	3.125%	3/22/23	7,225		7,635
	Unilever Capital Corp.	3.250%	3/7/24	10,604		11,315
	Unilever Capital Corp.	2.600%	5/5/24	14,173		14,796
	Whirlpool Corp.	4.850%	6/15/21	2,388		2,484
	Whirlpool Corp.	4.700%	6/1/22	4,350		4,628
	Whirlpool Corp.	4.000%	3/1/24	4,345		4,681
	Wyeth LLC	6.450%	2/1/24	9,325		11,158
	Zimmer Biomet Holdings Inc.	3.375%	11/30/21	3,875		3,993
	Zimmer Biomet Holdings Inc.	3.150%	4/1/22	11,707		12,108
	Zimmer Biomet Holdings Inc.	3.700%	3/19/23	5,506		5,850
	Zoetis Inc.	3.250%	8/20/21	4,415		4,519
	Zoetis Inc.	3.250%	2/1/23	14,465		15,155
	Energy (7.5%)
	Apache Corp.	3.625%	2/1/21	1,966		1,993
	Apache Corp.	3.250%	4/15/22	4,449		4,535
	Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor Inc.	2.773%	12/15/22	21,974		22,785
	Boardwalk Pipelines LP	3.375%	2/1/23	6,470		6,674
	Boardwalk Pipelines LP	4.950%	12/15/24	6,098		6,677
	BP Capital Markets America Inc.	4.742%	3/11/21	12,497		12,887
	BP Capital Markets America Inc.	2.112%	9/16/21	7,304		7,405
	BP Capital Markets America Inc.	3.245%	5/6/22	28,195		29,323
	BP Capital Markets America Inc.	2.520%	9/19/22	15,295		15,761
	BP Capital Markets America Inc.	2.750%	5/10/23	24,270		25,087
	BP Capital Markets America Inc.	3.216%	11/28/23	10,205		10,837

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	BP Capital Markets America Inc.	3.790%	2/6/24	10,890		11,754
	BP Capital Markets America Inc.	3.224%	4/14/24	14,285		15,275
	BP Capital Markets plc	3.561%	11/1/21	19,330		20,086
	BP Capital Markets plc	3.062%	3/17/22	14,174		14,668
	BP Capital Markets plc	3.245%	5/6/22	8,493		8,833
	BP Capital Markets plc	2.500%	11/6/22	18,490		19,034
	BP Capital Markets plc	3.994%	9/26/23	8,720		9,454
	BP Capital Markets plc	3.814%	2/10/24	27,717		30,019
	BP Capital Markets plc	3.535%	11/4/24	9,024		9,768
	Canadian Natural Resources Ltd.	3.450%	11/15/21	12,448		12,773
	Canadian Natural Resources Ltd.	2.950%	1/15/23	8,077		8,385
	Canadian Natural Resources Ltd.	3.800%	4/15/24	12,444		13,240
	Canadian Natural Resources Ltd.	3.900%	2/1/25	4,661		5,055
	Cenovus Energy Inc.	3.000%	8/15/22	7,084		7,237
	Cenovus Energy Inc.	3.800%	9/15/23	4,855		5,054
	Cheniere Corpus Christi Holdings LLC	7.000%	6/30/24	23,289		26,346
	Chevron Corp.	2.419%	11/17/20	9,000		9,058
	Chevron Corp.	2.100%	5/16/21	22,533		22,740
	Chevron Corp.	2.411%	3/3/22	9,240		9,454
	Chevron Corp.	2.498%	3/3/22	10,084		10,356
	Chevron Corp.	2.355%	12/5/22	32,668		33,433
	Chevron Corp.	2.566%	5/16/23	10,523		10,888
	Chevron Corp.	3.191%	6/24/23	35,916		37,780
	Chevron Corp.	2.895%	3/3/24	8,600		9,040
	Cimarex Energy Co.	4.375%	6/1/24	11,692		12,336
	Concho Resources Inc.	4.375%	1/15/25	7,779		8,032
	ConocoPhillips Co.	2.400%	12/15/22	817		834
	ConocoPhillips Co.	3.350%	11/15/24	6,794		7,370
	Continental Resources Inc.	5.000%	9/15/22	755		752
	Continental Resources Inc.	4.500%	4/15/23	27,212		28,164
	Continental Resources Inc.	3.800%	6/1/24	21,841		22,114
	Diamondback Energy Inc.	2.875%	12/1/24	20,790		20,875
	Dominion Energy Gas Holdings LLC	2.800%	11/15/20	8,790		8,849
	Dominion Energy Gas Holdings LLC	3.550%	11/1/23	3,950		4,175
	Dominion Energy Gas Holdings LLC	2.500%	11/15/24	6,400		6,577
	Dominion Energy Gas Holdings LLC	3.600%	12/15/24	4,184		4,492
	Enable Midstream Partners LP	3.900%	5/15/24	7,024		7,167
	Enbridge Energy Partners LP	4.200%	9/15/21	9,389		9,729
	Enbridge Inc.	2.900%	7/15/22	7,707		7,914
	Enbridge Inc.	4.000%	10/1/23	11,397		12,191
	Enbridge Inc.	3.500%	6/10/24	7,817		8,319
	Enbridge Inc.	2.500%	1/15/25	7,873		8,103
	Energy Transfer Operating LP	4.650%	6/1/21	18,338		18,906
	Energy Transfer Operating LP	5.200%	2/1/22	14,333		15,122
	Energy Transfer Operating LP	3.600%	2/1/23	18,972		19,662
	Energy Transfer Operating LP	4.250%	3/15/23	16,625		17,593
	Energy Transfer Operating LP	4.200%	9/15/23	5,084		5,444
	Energy Transfer Operating LP	5.875%	1/15/24	16,928		18,957
	Energy Transfer Operating LP	4.900%	2/1/24	4,745		5,215
	Energy Transfer Operating LP	4.500%	4/15/24	7,931		8,584
	Energy Transfer Operating LP	2.900%	5/15/25	2,000		2,037
	Enterprise Products Operating LLC	2.800%	2/15/21	7,063		7,135
	Enterprise Products Operating LLC	2.850%	4/15/21	11,443		11,595
	Enterprise Products Operating LLC	3.500%	2/1/22	12,347		12,824
	Enterprise Products Operating LLC	4.050%	2/15/22	14,138		14,839
	Enterprise Products Operating LLC	3.350%	3/15/23	15,547		16,262
	Enterprise Products Operating LLC	3.900%	2/15/24	11,425		12,351
	Enterprise Products Operating LLC	3.750%	2/15/25	13,338		14,504
1	Enterprise Products Operating LLC	4.875%	8/16/77	6,900		7,041
	EOG Resources Inc.	4.100%	2/1/21	9,319		9,528
	EOG Resources Inc.	2.625%	3/15/23	16,253		16,793
	EQM Midstream Partners LP	4.750%	7/15/23	6,525		6,003
	EQM Midstream Partners LP	4.000%	8/1/24	4,796		4,232
	EQT Corp.	4.875%	11/15/21	7,106		6,982

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Exxon Mobil Corp.	2.222%	3/1/21	27,850		28,052
	Exxon Mobil Corp.	2.397%	3/6/22	22,793		23,322
	Exxon Mobil Corp.	1.902%	8/16/22	13,850		14,104
	Exxon Mobil Corp.	2.726%	3/1/23	34,943		36,367
	Exxon Mobil Corp.	3.176%	3/15/24	1,450		1,540
	Exxon Mobil Corp.	2.019%	8/16/24	17,365		17,737
	Halliburton Co.	3.250%	11/15/21	7,879		8,097
	Halliburton Co.	3.500%	8/1/23	16,069		16,909
	Hess Corp.	3.500%	7/15/24	3,819		3,995
	Husky Energy Inc.	3.950%	4/15/22	6,539		6,784
	Husky Energy Inc.	4.000%	4/15/24	12,255		12,910
	Kinder Morgan Energy Partners LP	3.500%	3/1/21	11,438		11,636
	Kinder Morgan Energy Partners LP	5.800%	3/1/21	6,384		6,650
	Kinder Morgan Energy Partners LP	5.000%	10/1/21	8,032		8,402
	Kinder Morgan Energy Partners LP	4.150%	3/1/22	4,807		5,017
	Kinder Morgan Energy Partners LP	3.950%	9/1/22	13,850		14,502
	Kinder Morgan Energy Partners LP	3.450%	2/15/23	10,059		10,489
	Kinder Morgan Energy Partners LP	3.500%	9/1/23	5,522		5,787
	Kinder Morgan Energy Partners LP	4.150%	2/1/24	6,467		6,958
	Kinder Morgan Energy Partners LP	4.300%	5/1/24	9,375		10,194
	Kinder Morgan Energy Partners LP	4.250%	9/1/24	14,324		15,731
	Kinder Morgan Inc.	3.150%	1/15/23	16,822		17,448
	Marathon Oil Corp.	2.800%	11/1/22	17,200		17,455
	Marathon Petroleum Corp.	3.400%	12/15/20	18,925		19,151
	Marathon Petroleum Corp.	5.125%	3/1/21	7,258		7,463
	Marathon Petroleum Corp.	4.750%	12/15/23	4,477		4,868
	Marathon Petroleum Corp.	3.625%	9/15/24	6,291		6,715
2	MPLX LP	3.500%	12/1/22	8,850		9,204
	MPLX LP	3.375%	3/15/23	9,597		10,065
	MPLX LP	4.500%	7/15/23	21,272		23,024
2	MPLX LP	6.375%	5/1/24	1,050		1,091
	MPLX LP	4.875%	12/1/24	20,702		22,866
2	MPLX LP	5.250%	1/15/25	8,740		9,250
	MPLX LP	4.000%	2/15/25	6,905		7,378
	National Fuel Gas Co.	4.900%	12/1/21	7,039		7,390
	National Fuel Gas Co.	3.750%	3/1/23	8,125		8,478
	National Oilwell Varco Inc.	2.600%	12/1/22	5,349		5,497
	Newfield Exploration Co.	5.750%	1/30/22	10,113		10,720
	Newfield Exploration Co.	5.625%	7/1/24	16,571		18,034
	Noble Energy Inc.	3.900%	11/15/24	9,713		10,320
	Occidental Petroleum Corp.	4.850%	3/15/21	8,466		8,715
	Occidental Petroleum Corp.	2.600%	8/13/21	23,868		24,023
	Occidental Petroleum Corp.	3.125%	2/15/22	19,053		19,527
	Occidental Petroleum Corp.	2.600%	4/15/22	4,720		4,810
	Occidental Petroleum Corp.	2.700%	8/15/22	22,066		22,379
	Occidental Petroleum Corp.	2.700%	2/15/23	14,853		14,979
	Occidental Petroleum Corp.	6.950%	7/1/24	10,207		11,974
	Occidental Petroleum Corp.	2.900%	8/15/24	47,688		48,323
	ONEOK Inc.	4.250%	2/1/22	6,129		6,364
	ONEOK Inc.	7.500%	9/1/23	10,675		12,544
	ONEOK Inc.	2.750%	9/1/24	9,192		9,495
	ONEOK Partners LP	3.375%	10/1/22	13,203		13,657
	ONEOK Partners LP	5.000%	9/15/23	7,425		8,130
	Ovintiv Inc.	3.900%	11/15/21	8,419		8,671
	Petro-Canada	9.250%	10/15/21	4,561		5,114
	Phillips 66	4.300%	4/1/22	29,328		31,036
	Phillips 66 Partners LP	2.450%	12/15/24	3,649		3,760
	Phillips 66 Partners LP	3.605%	2/15/25	8,897		9,435
	Pioneer Natural Resources Co.	3.450%	1/15/21	7,052		7,151
	Pioneer Natural Resources Co.	3.950%	7/15/22	7,141		7,513
	Plains All American Pipeline LP / PAA Finance Corp.	3.650%	6/1/22	10,391		10,680
	Plains All American Pipeline LP / PAA Finance Corp.	2.850%	1/31/23	7,190		7,337
	Plains All American Pipeline LP / PAA Finance Corp.	3.850%	10/15/23	11,035		11,489
	Plains All American Pipeline LP / PAA Finance Corp.	3.600%	11/1/24	14,851		15,454

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Regency Energy Partners LP / Regency Energy Finance Corp.	5.875%	3/1/22	17,369		18,498
Regency Energy Partners LP / Regency Energy Finance Corp.	5.000%	10/1/22	8,979		9,563
Regency Energy Partners LP / Regency Energy Finance Corp.	4.500%	11/1/23	8,455		9,068
Sabine Pass Liquefaction LLC	6.250%	3/15/22	16,445		17,637
Sabine Pass Liquefaction LLC	5.625%	4/15/23	21,420		23,428
Sabine Pass Liquefaction LLC	5.750%	5/15/24	31,400		35,247
Schlumberger Investment SA	3.650%	12/1/23	23,065		24,624
Shell International Finance BV	1.875%	5/10/21	27,575		27,700
Shell International Finance BV	1.750%	9/12/21	17,187		17,267
Shell International Finance BV	2.375%	8/21/22	22,165		22,707
Shell International Finance BV	2.250%	1/6/23	18,661		19,090
Shell International Finance BV	3.400%	8/12/23	13,731		14,603
Shell International Finance BV	3.500%	11/13/23	1,000		1,064
Shell International Finance BV	2.000%	11/7/24	26,925		27,461
Southern Natural Gas Co. LLC / Southern Natural Issuing Corp.	4.400%	6/15/21	5,145		5,293
Spectra Energy Partners LP	4.750%	3/15/24	18,251		20,082
Suncor Energy Inc.	3.600%	12/1/24	10,703		11,529
Sunoco Logistics Partners Operations LP	4.400%	4/1/21	13,707		14,021
Sunoco Logistics Partners Operations LP	4.650%	2/15/22	3,417		3,605
Sunoco Logistics Partners Operations LP	3.450%	1/15/23	3,620		3,759
Sunoco Logistics Partners Operations LP	4.250%	4/1/24	13,835		14,831
TC PipeLines LP	4.650%	6/15/21	2,708		2,796
TechnipFMC plc	3.450%	10/1/22	6,579		6,806
Total Capital Canada Ltd.	2.750%	7/15/23	24,326		25,411
Total Capital International SA	2.750%	6/19/21	9,829		9,982
Total Capital International SA	2.218%	7/12/21	5,500		5,558
Total Capital International SA	2.875%	2/17/22	13,787		14,178
Total Capital International SA	2.700%	1/25/23	15,174		15,665
Total Capital International SA	3.700%	1/15/24	16,039		17,330
Total Capital International SA	3.750%	4/10/24	19,468		21,134
Total Capital International SA	2.434%	1/10/25	12,508		12,943
Total Capital SA	4.250%	12/15/21	2,850		2,992
TransCanada PipeLines Ltd.	2.500%	8/1/22	15,109		15,312
TransCanada PipeLines Ltd.	3.750%	10/16/23	12,257		13,039
Western Midstream Operating LP	5.375%	6/1/21	6,723		6,938
Western Midstream Operating LP	4.000%	7/1/22	10,988		11,299
Western Midstream Operating LP	3.100%	2/1/25	14,025		14,014
Williams Cos. Inc.	7.875%	9/1/21	2,900		3,164
Williams Cos. Inc.	4.000%	11/15/21	12,350		12,803
Williams Cos. Inc.	3.600%	3/15/22	21,051		21,722
Williams Cos. Inc.	3.350%	8/15/22	15,813		16,262
Williams Cos. Inc.	3.700%	1/15/23	13,846		14,466
Williams Cos. Inc.	4.500%	11/15/23	9,789		10,598
Williams Cos. Inc.	4.300%	3/4/24	17,770		19,264
Williams Cos. Inc.	4.550%	6/24/24	5,675		6,219
Williams Cos. Inc.	3.900%	1/15/25	10,159		10,838
Other Industrial (0.1%)
Cintas Corp. No. 2	4.300%	6/1/21	2,015		2,072
Cintas Corp. No. 2	2.900%	4/1/22	8,015		8,213
Cintas Corp. No. 2	3.250%	6/1/22	4,575		4,732
Fluor Corp.	3.500%	12/15/24	7,838		7,529
Technology (9.1%)
Adobe Inc.	1.700%	2/1/23	6,122		6,208
Adobe Inc.	1.900%	2/1/25	6,044		6,172
Adobe Inc.	3.250%	2/1/25	16,564		17,880
Alphabet Inc.	3.625%	5/19/21	10,521		10,817
Alphabet Inc.	3.375%	2/25/24	10,265		11,094
Altera Corp.	4.100%	11/15/23	12,378		13,568
Amphenol Corp.	3.200%	4/1/24	5,350		5,647

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Amphenol Corp.	2.050%	3/1/25	3,000		3,040
	Analog Devices Inc.	2.500%	12/5/21	9,345		9,518
	Analog Devices Inc.	2.875%	6/1/23	8,256		8,565
	Analog Devices Inc.	3.125%	12/5/23	8,075		8,496
	Apple Inc.	2.250%	2/23/21	10,000		10,070
	Apple Inc.	2.850%	5/6/21	38,109		38,784
	Apple Inc.	1.550%	8/4/21	25,345		25,459
	Apple Inc.	2.150%	2/9/22	26,093		26,577
	Apple Inc.	2.500%	2/9/22	36,324		37,206
	Apple Inc.	2.300%	5/11/22	21,195		21,651
	Apple Inc.	2.700%	5/13/22	30,962		31,879
	Apple Inc.	2.100%	9/12/22	11,444		11,666
	Apple Inc.	2.400%	1/13/23	27,609		28,444
	Apple Inc.	2.850%	2/23/23	17,784		18,559
	Apple Inc.	2.400%	5/3/23	72,785		74,993
	Apple Inc.	3.000%	2/9/24	33,674		35,672
	Apple Inc.	3.450%	5/6/24	45,433		49,196
	Apple Inc.	2.850%	5/11/24	31,152		32,883
	Apple Inc.	1.800%	9/11/24	7,714		7,816
	Apple Inc.	2.750%	1/13/25	17,097		18,036
	Apple Inc.	2.500%	2/9/25	10,925		11,464
	Applied Materials Inc.	4.300%	6/15/21	6,800		7,059
	Arrow Electronics Inc.	3.500%	4/1/22	4,521		4,661
	Arrow Electronics Inc.	4.500%	3/1/23	4,350		4,611
	Arrow Electronics Inc.	3.250%	9/8/24	8,905		9,249
	Autodesk Inc.	3.600%	12/15/22	2,593		2,715
	Avnet Inc.	3.750%	12/1/21	4,175		4,298
	Avnet Inc.	4.875%	12/1/22	5,475		5,856
	Baidu Inc.	2.875%	7/6/22	6,925		7,079
	Baidu Inc.	3.500%	11/28/22	10,199		10,618
	Baidu Inc.	3.875%	9/29/23	20,630		21,952
	Baidu Inc.	4.375%	5/14/24	12,600		13,742
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.000%	1/15/22	50,813		51,804
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	2.650%	1/15/23	18,464		18,814
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.625%	1/15/24	50,008		52,377
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.125%	1/15/25	18,066		18,662
2	Broadcom Inc.	3.125%	4/15/21	20,917		21,245
2	Broadcom Inc.	3.125%	10/15/22	27,033		27,913
2	Broadcom Inc.	3.625%	10/15/24	14,803		15,598
	CA Inc.	3.600%	8/15/22	7,538		7,792
	Cadence Design Systems Inc.	4.375%	10/15/24	5,382		5,988
	Cisco Systems Inc.	2.900%	3/4/21	10,111		10,250
	Cisco Systems Inc.	1.850%	9/20/21	26,885		27,079
	Cisco Systems Inc.	3.000%	6/15/22	6,530		6,779
	Cisco Systems Inc.	2.600%	2/28/23	12,940		13,404
	Cisco Systems Inc.	2.200%	9/20/23	12,240		12,582
	Cisco Systems Inc.	3.625%	3/4/24	12,338		13,411
	Corning Inc.	2.900%	5/15/22	6,788		6,979
2	Dell International LLC / EMC Corp.	4.420%	6/15/21	65,900		68,082
2	Dell International LLC / EMC Corp.	5.450%	6/15/23	54,568		60,026
2	Dell International LLC / EMC Corp.	4.000%	7/15/24	16,400		17,578
	DXC Technology Co.	4.250%	4/15/24	7,750		8,302
	Equifax Inc.	2.300%	6/1/21	5,578		5,628
	Equifax Inc.	3.600%	8/15/21	4,204		4,320
	Equifax Inc.	3.300%	12/15/22	8,972		9,361
	Equifax Inc.	3.950%	6/15/23	5,621		6,015
	Equifax Inc.	2.600%	12/1/24	8,684		8,971
	Equinix Inc.	2.625%	11/18/24	21,040		21,584
	Fidelity National Information Services Inc.	3.500%	4/15/23	16,139		16,988
	Fidelity National Information Services Inc.	3.875%	6/5/24	4,068		4,418
	Fiserv Inc.	4.750%	6/15/21	2,155		2,240
	Fiserv Inc.	3.500%	10/1/22	12,019		12,565
	Fiserv Inc.	3.800%	10/1/23	15,985		17,108
	Fiserv Inc.	2.750%	7/1/24	36,346		37,728

Vanguard^®Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000
	Flex Ltd.	5.000%	2/15/23	5,343		5,803
	FLIR Systems Inc.	3.125%	6/15/21	6,418		6,543
	Global Payments Inc.	2.650%	2/15/25	16,511		17,090
	Hewlett Packard Enterprise Co.	3.600%	10/15/20	22,000		22,203
	Hewlett Packard Enterprise Co.	3.500%	10/5/21	6,583		6,768
	Hewlett Packard Enterprise Co.	4.400%	10/15/22	26,601		28,368
	Hewlett Packard Enterprise Co.	2.250%	4/1/23	15,490		15,699
	HP Inc.	4.300%	6/1/21	7,357		7,585
	HP Inc.	4.375%	9/15/21	4,043		4,188
	HP Inc.	4.650%	12/9/21	7,457		7,841
	HP Inc.	4.050%	9/15/22	6,475		6,854
	IBM Credit LLC	3.450%	11/30/20	11,033		11,207
	IBM Credit LLC	1.800%	1/20/21	25		25
	IBM Credit LLC	3.600%	11/30/21	9,885		10,274
	IBM Credit LLC	2.200%	9/8/22	6,325		6,468
	IBM Credit LLC	3.000%	2/6/23	7,031		7,349
	Intel Corp.	1.700%	5/19/21	15,995		16,064
	Intel Corp.	3.300%	10/1/21	28,291		29,169
	Intel Corp.	2.350%	5/11/22	13,929		14,217
	Intel Corp.	3.100%	7/29/22	10,383		10,836
	Intel Corp.	2.700%	12/15/22	26,396		27,380
	Intel Corp.	2.875%	5/11/24	21,922		23,176
	International Business Machines Corp.	2.250%	2/19/21	13,711		13,851
	International Business Machines Corp.	2.800%	5/13/21	23,804		24,296
	International Business Machines Corp.	2.900%	11/1/21	9,045		9,321
	International Business Machines Corp.	2.500%	1/27/22	10,934		11,181
	International Business Machines Corp.	2.850%	5/13/22	48,625		50,120
	International Business Machines Corp.	1.875%	8/1/22	12,133		12,295
	International Business Machines Corp.	2.875%	11/9/22	16,325		16,919
	International Business Machines Corp.	3.375%	8/1/23	24,683		26,288
	International Business Machines Corp.	3.625%	2/12/24	27,986		30,170
	International Business Machines Corp.	3.000%	5/15/24	55,150		58,387
	Jabil Inc.	5.625%	12/15/20	4,712		4,844
	Jabil Inc.	4.700%	9/15/22	3,948		4,223
	Juniper Networks Inc.	4.500%	3/15/24	11,887		13,097
	KLA Corp.	4.125%	11/1/21	7,763		8,092
	KLA Corp.	4.650%	11/1/24	16,938		19,021
	Lam Research Corp.	2.800%	6/15/21	12,674		12,882
	Marvell Technology Group Ltd.	4.200%	6/22/23	8,499		9,094
	Maxim Integrated Products Inc.	3.375%	3/15/23	6,712		7,048
	Microchip Technology Inc.	3.922%	6/1/21	11,025		11,313
	Microchip Technology Inc.	4.333%	6/1/23	17,375		18,563
	Micron Technology Inc.	4.640%	2/6/24	7,250		7,866
	Microsoft Corp.	1.550%	8/8/21	32,107		32,259
	Microsoft Corp.	2.400%	2/6/22	29,210		29,824
	Microsoft Corp.	2.375%	2/12/22	38,464		39,270
	Microsoft Corp.	2.650%	11/3/22	21,051		21,785
	Microsoft Corp.	2.125%	11/15/22	13,508		13,829
	Microsoft Corp.	2.375%	5/1/23	19,285		19,916
	Microsoft Corp.	2.000%	8/8/23	26,422		27,026
	Microsoft Corp.	3.625%	12/15/23	16,946		18,318
	Microsoft Corp.	2.875%	2/6/24	35,236		37,233
	Microsoft Corp.	2.700%	2/12/25	25,196		26,674
	Motorola Solutions Inc.	3.750%	5/15/22	7,380		7,699
	Motorola Solutions Inc.	3.500%	3/1/23	10,251		10,726
	Motorola Solutions Inc.	4.000%	9/1/24	9,256		10,068
	NetApp Inc.	3.375%	6/15/21	7,509		7,654
	NetApp Inc.	3.300%	9/29/24	6,385		6,749
	NVIDIA Corp.	2.200%	9/16/21	15,617		15,818
2	NXP BV / NXP Funding LLC	4.875%	3/1/24	12,088		13,251
	Oracle Corp.	2.800%	7/8/21	19,844		20,266
	Oracle Corp.	1.900%	9/15/21	60,866		61,349
	Oracle Corp.	2.500%	5/15/22	24,423		24,976
	Oracle Corp.	2.500%	10/15/22	42,140		43,327

Vanguard^® Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Oracle Corp.	2.625%	2/15/23	28,153		29,134
	Oracle Corp.	3.625%	7/15/23	19,170		20,564
	Oracle Corp.	2.400%	9/15/23	28,374		29,286
	Oracle Corp.	3.400%	7/8/24	30,772		33,063
	Oracle Corp.	2.950%	11/15/24	33,135		35,119
	PayPal Holdings Inc.	2.200%	9/26/22	15,925		16,250
	PayPal Holdings Inc.	2.400%	10/1/24	23,217		23,850
	QUALCOMM Inc.	3.000%	5/20/22	33,693		34,859
	QUALCOMM Inc.	2.600%	1/30/23	11,857		12,226
	QUALCOMM Inc.	2.900%	5/20/24	31,329		32,834
	salesforce.com Inc.	3.250%	4/11/23	15,700		16,539
	Seagate HDD Cayman	4.250%	3/1/22	5,834		5,994
	Seagate HDD Cayman	4.750%	6/1/23	5,535		5,867
	Seagate HDD Cayman	4.875%	3/1/24	10,090		10,771
	Seagate HDD Cayman	4.750%	1/1/25	4,815		5,104
	Tech Data Corp.	3.700%	2/15/22	7,405		7,631
	Texas Instruments Inc.	2.750%	3/12/21	9,036		9,161
	Texas Instruments Inc.	1.850%	5/15/22	6,740		6,816
	Texas Instruments Inc.	2.250%	5/1/23	1,250		1,286
	Texas Instruments Inc.	2.625%	5/15/24	6,750		7,056
	Total System Services Inc.	3.800%	4/1/21	7,159		7,331
	Total System Services Inc.	3.750%	6/1/23	8,721		9,257
	Total System Services Inc.	4.000%	6/1/23	10,350		11,102
	Trimble Inc.	4.150%	6/15/23	4,436		4,702
	Trimble Inc.	4.750%	12/1/24	6,202		6,894
	Tyco Electronics Group SA	4.875%	1/15/21	180		185
	Tyco Electronics Group SA	3.500%	2/3/22	10,929		11,294
	Tyco Electronics Group SA	3.450%	8/1/24	6,700		7,159
	Verisk Analytics Inc.	5.800%	5/1/21	7,060		7,384
	Verisk Analytics Inc.	4.125%	9/12/22	7,704		8,158
	VMware Inc.	2.300%	8/21/20	12,517		12,536
	VMware Inc.	2.950%	8/21/22	23,173		23,850
	Xilinx Inc.	3.000%	3/15/21	7,416		7,530
	Xilinx Inc.	2.950%	6/1/24	11,150		11,667
	Transportation (1.7%)
1	American Airlines 2013-2 Class A Pass Through Trust	4.950%	7/15/24	7,915		8,361
	Burlington Northern Santa Fe LLC	3.450%	9/15/21	8,427		8,665
	Burlington Northern Santa Fe LLC	3.050%	3/15/22	9,426		9,726
	Burlington Northern Santa Fe LLC	3.050%	9/1/22	12,741		13,220
	Burlington Northern Santa Fe LLC	3.000%	3/15/23	12,488		13,028
	Burlington Northern Santa Fe LLC	3.850%	9/1/23	9,981		10,741
	Burlington Northern Santa Fe LLC	3.750%	4/1/24	8,724		9,455
	Burlington Northern Santa Fe LLC	3.400%	9/1/24	11,476		12,394
	Canadian National Railway Co.	2.850%	12/15/21	5,025		5,134
	Canadian National Railway Co.	2.950%	11/21/24	4,465		4,736
	Canadian Pacific Railway Co.	9.450%	8/1/21	2,250		2,507
	Canadian Pacific Railway Co.	4.450%	3/15/23	3,350		3,605
	Canadian Pacific Railway Co.	2.900%	2/1/25	9,613		10,138
1	Continental Airlines 2007-1 Class A Pass Through Trust	5.983%	10/19/23	4,611		4,872
1	Continental Airlines 2012-1 Class A Pass Through Trust	4.150%	10/11/25	7,015		7,499
	CSX Corp.	4.250%	6/1/21	8,840		9,086
	CSX Corp.	3.700%	11/1/23	3,320		3,575
	CSX Corp.	3.400%	8/1/24	12,223		13,147
1	Delta Air Lines 2007-1 Class A Pass Through Trust	6.821%	2/10/24	3,647		4,013
1	Delta Air Lines 2019-1 Class AA Pass Through Trust	3.204%	4/25/24	4,716		5,044
	Delta Air Lines Inc.	2.600%	12/4/20	12,900		12,999
	Delta Air Lines Inc.	3.400%	4/19/21	6,200		6,311
	Delta Air Lines Inc.	3.625%	3/15/22	17,222		17,836
	Delta Air Lines Inc.	3.800%	4/19/23	8,000		8,361
	Delta Air Lines Inc.	2.900%	10/28/24	13,500		13,902
	FedEx Corp.	3.400%	1/14/22	2,688		2,783

Vanguard^® Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	FedEx Corp.	2.625%	8/1/22	8,005		8,195
	FedEx Corp.	4.000%	1/15/24	15,636		16,968
	FedEx Corp.	3.200%	2/1/25	9,347		9,939
	JB Hunt Transport Services Inc.	3.300%	8/15/22	5,993		6,224
	Kansas City Southern	3.000%	5/15/23	3,887		4,030
	Norfolk Southern Corp.	3.250%	12/1/21	9,415		9,674
	Norfolk Southern Corp.	3.000%	4/1/22	10,252		10,541
	Norfolk Southern Corp.	2.903%	2/15/23	12,439		12,907
	Norfolk Southern Corp.	3.850%	1/15/24	2,804		3,027
	Ryder System Inc.	3.500%	6/1/21	3,423		3,501
	Ryder System Inc.	2.250%	9/1/21	5,450		5,501
	Ryder System Inc.	3.450%	11/15/21	1,750		1,804
	Ryder System Inc.	2.800%	3/1/22	8,147		8,329
	Ryder System Inc.	2.875%	6/1/22	8,175		8,405
	Ryder System Inc.	2.500%	9/1/22	2,585		2,637
	Ryder System Inc.	3.400%	3/1/23	7,920		8,309
	Ryder System Inc.	3.750%	6/9/23	9,756		10,370
	Ryder System Inc.	3.875%	12/1/23	2,998		3,212
	Ryder System Inc.	3.650%	3/18/24	6,136		6,550
	Ryder System Inc.	2.500%	9/1/24	13,825		14,136
	Southwest Airlines Co.	2.750%	11/16/22	5,700		5,877
	Union Pacific Corp.	3.200%	6/8/21	7,249		7,388
	Union Pacific Corp.	2.950%	3/1/22	9,385		9,674
	Union Pacific Corp.	4.163%	7/15/22	12,041		12,715
	Union Pacific Corp.	2.950%	1/15/23	8,067		8,364
	Union Pacific Corp.	2.750%	4/15/23	3,329		3,448
	Union Pacific Corp.	3.500%	6/8/23	5,059		5,368
	Union Pacific Corp.	3.646%	2/15/24	7,680		8,284
	Union Pacific Corp.	3.150%	3/1/24	5,905		6,275
	Union Pacific Corp.	3.750%	3/15/24	7,868		8,519
	Union Pacific Corp.	3.250%	1/15/25	4,226		4,528
	United Parcel Service Inc.	2.050%	4/1/21	7,645		7,694
	United Parcel Service Inc.	2.350%	5/16/22	16,799		17,147
	United Parcel Service Inc.	2.450%	10/1/22	14,049		14,346
	United Parcel Service Inc.	2.500%	4/1/23	15,022		15,510
	United Parcel Service Inc.	2.800%	11/15/24	15,950		16,806
						16,644,481
Utilities (4.3%)
	Electric (4.0%)
	AEP Texas Inc.	2.400%	10/1/22	5,250		5,356
	Alabama Power Co.	2.450%	3/30/22	12,600		12,883
	Alabama Power Co.	3.550%	12/1/23	5,000		5,367
	Ameren Corp.	2.500%	9/15/24	10,520		10,770
	Ameren Illinois Co.	2.700%	9/1/22	4,585		4,718
	American Electric Power Co. Inc.	3.650%	12/1/21	5,599		5,810
	American Electric Power Co. Inc.	2.950%	12/15/22	6,632		6,865
	Appalachian Power Co.	4.600%	3/30/21	9,110		9,374
	Avangrid Inc.	3.150%	12/1/24	9,860		10,439
	Baltimore Gas & Electric Co.	3.500%	11/15/21	7,368		7,617
	Baltimore Gas & Electric Co.	3.350%	7/1/23	5,225		5,496
	Berkshire Hathaway Energy Co.	2.375%	1/15/21	5,983		6,031
	Berkshire Hathaway Energy Co.	2.800%	1/15/23	6,200		6,441
	Berkshire Hathaway Energy Co.	3.750%	11/15/23	10,566		11,366
	Berkshire Hathaway Energy Co.	3.500%	2/1/25	7,143		7,723
	Black Hills Corp.	4.250%	11/30/23	6,716		7,243
	CenterPoint Energy Houston Electric LLC	1.850%	6/1/21	8,511		8,576
	CenterPoint Energy Houston Electric LLC	2.250%	8/1/22	2,987		3,040
	CenterPoint Energy Inc.	3.600%	11/1/21	4,375		4,505
	CenterPoint Energy Inc.	2.500%	9/1/22	7,675		7,821
	CenterPoint Energy Inc.	3.850%	2/1/24	6,945		7,497
	CenterPoint Energy Inc.	2.500%	9/1/24	8,225		8,499
	Cleveland Electric Illuminating Co.	5.500%	8/15/24	1,750		2,048
	CMS Energy Corp.	5.050%	3/15/22	4,888		5,181

Vanguard^® Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Commonwealth Edison Co.	3.400%	9/1/21	9,028		9,281
	Connecticut Light & Power Co.	2.500%	1/15/23	6,682		6,868
	Consolidated Edison Inc.	2.000%	5/15/21	7,362		7,405
	Consumers Energy Co.	2.850%	5/15/22	5,669		5,832
	Consumers Energy Co.	3.375%	8/15/23	4,905		5,208
	Delmarva Power & Light Co.	3.500%	11/15/23	5,959		6,343
	Dominion Energy Inc.	4.104%	4/1/21	7,680		7,877
	Dominion Energy Inc.	2.000%	8/15/21	7,551		7,612
	Dominion Energy Inc.	2.715%	8/15/21	8,120		8,262
	Dominion Energy Inc.	2.750%	1/15/22	10,958		11,230
	Dominion Energy Inc.	2.750%	9/15/22	4,053		4,145
	Dominion Energy Inc.	3.071%	8/15/24	3,891		4,080
1	Dominion Energy Inc.	5.750%	10/1/54	9,825		10,577
	DTE Electric Co.	3.650%	3/15/24	5,825		6,290
	DTE Energy Co.	2.600%	6/15/22	3,475		3,544
	DTE Energy Co.	3.300%	6/15/22	5,770		5,965
	DTE Energy Co.	2.250%	11/1/22	8,150		8,285
	DTE Energy Co.	3.700%	8/1/23	10,590		11,265
	DTE Energy Co.	3.850%	12/1/23	7,711		8,248
	DTE Energy Co.	3.500%	6/1/24	6,490		6,893
	DTE Energy Co.	2.529%	10/1/24	5,471		5,650
	Duke Energy Carolinas LLC	3.900%	6/15/21	5,825		5,983
	Duke Energy Carolinas LLC	3.350%	5/15/22	5,255		5,472
	Duke Energy Carolinas LLC	2.500%	3/15/23	10,779		11,119
	Duke Energy Carolinas LLC	3.050%	3/15/23	5,379		5,630
	Duke Energy Corp.	1.800%	9/1/21	7,028		7,050
	Duke Energy Corp.	3.550%	9/15/21	9,765		10,054
	Duke Energy Corp.	2.400%	8/15/22	6,450		6,580
	Duke Energy Corp.	3.050%	8/15/22	4,935		5,090
	Duke Energy Corp.	3.950%	10/15/23	6,375		6,857
	Duke Energy Corp.	3.750%	4/15/24	13,970		15,051
	Duke Energy Florida LLC	3.100%	8/15/21	3,921		4,013
	Duke Energy Ohio Inc.	3.800%	9/1/23	8,223		8,835
	Duke Energy Progress LLC	3.000%	9/15/21	9,775		9,991
	Duke Energy Progress LLC	2.800%	5/15/22	12,120		12,468
	Duke Energy Progress LLC	3.375%	9/1/23	7,731		8,220
	Edison International	2.400%	9/15/22	11,891		12,042
	Edison International	3.125%	11/15/22	4,150		4,280
	Edison International	2.950%	3/15/23	4,099		4,178
	Edison International	3.550%	11/15/24	6,700		7,101
	Emera US Finance LP	2.700%	6/15/21	7,843		7,980
	Enel Generacion Chile SA	4.250%	4/15/24	4,865		5,128
	Entergy Arkansas Inc.	3.750%	2/15/21	3,747		3,810
	Entergy Arkansas Inc.	3.700%	6/1/24	1,950		2,110
	Entergy Corp.	4.000%	7/15/22	9,272		9,737
	Entergy Gulf States Louisiana LLC	5.590%	10/1/24	2,608		3,058
	Entergy Louisiana LLC	4.050%	9/1/23	12,440		13,445
	Entergy Louisiana LLC	5.400%	11/1/24	5,598		6,536
	Evergy Inc.	2.450%	9/15/24	11,345		11,610
	Eversource Energy	2.500%	3/15/21	4,475		4,528
	Eversource Energy	2.750%	3/15/22	5,795		5,936
	Eversource Energy	2.800%	5/1/23	9,925		10,241
	Eversource Energy	3.800%	12/1/23	8,000		8,534
	Eversource Energy	2.900%	10/1/24	7,838		8,195
	Eversource Energy	3.150%	1/15/25	7,232		7,651
	Exelon Corp.	5.150%	12/1/20	7,302		7,436
	Exelon Corp.	2.450%	4/15/21	4,200		4,245
	Exelon Corp.	3.497%	6/1/22	6,986		7,231
	Exelon Generation Co. LLC	3.400%	3/15/22	8,890		9,179
	Exelon Generation Co. LLC	4.250%	6/15/22	9,309		9,775
	FirstEnergy Corp.	2.850%	7/15/22	11,425		11,763
	FirstEnergy Corp.	4.250%	3/15/23	16,042		17,171
	Florida Power & Light Co.	2.750%	6/1/23	9,985		10,365
	Florida Power & Light Co.	3.250%	6/1/24	9,020		9,615

Vanguard^® Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Georgia Power Co.	2.400%	4/1/21	6,178		6,237
	Georgia Power Co.	2.850%	5/15/22	5,358		5,519
	Georgia Power Co.	2.100%	7/30/23	9,150		9,283
	Georgia Power Co.	2.200%	9/15/24	11,302		11,639
	Great Plains Energy Inc.	4.850%	6/1/21	5,207		5,391
	Interstate Power & Light Co.	3.250%	12/1/24	7,918		8,454
	IPALCO Enterprises Inc.	3.700%	9/1/24	7,453		7,854
	ITC Holdings Corp.	2.700%	11/15/22	10,175		10,432
	ITC Holdings Corp.	3.650%	6/15/24	7,043		7,534
	Kansas City Power & Light Co.	3.150%	3/15/23	5,565		5,817
	LG&E & KU Energy LLC	3.750%	11/15/20	6,759		6,813
	MidAmerican Energy Co.	3.500%	10/15/24	4,556		4,923
	National Rural Utilities Cooperative Finance Corp.	2.900%	3/15/21	10,372		10,553
	National Rural Utilities Cooperative Finance Corp.	1.750%	1/21/22	3,350		3,386
	National Rural Utilities Cooperative Finance Corp.	3.050%	2/15/22	7,046		7,277
	National Rural Utilities Cooperative Finance Corp.	2.400%	4/25/22	13,475		13,818
	National Rural Utilities Cooperative Finance Corp.	2.300%	9/15/22	2,968		3,046
	National Rural Utilities Cooperative Finance Corp.	2.700%	2/15/23	6,125		6,379
	National Rural Utilities Cooperative Finance Corp.	3.400%	11/15/23	7,683		8,273
	National Rural Utilities Cooperative Finance Corp.	2.950%	2/7/24	10,795		11,459
	National Rural Utilities Cooperative Finance Corp.	2.850%	1/27/25	5,452		5,794
1	National Rural Utilities Cooperative Finance Corp.	4.750%	4/30/43	4,225		4,447
	NextEra Energy Capital Holdings Inc.	4.500%	6/1/21	6,000		6,176
	NextEra Energy Capital Holdings Inc.	2.403%	9/1/21	22,856		23,186
	NextEra Energy Capital Holdings Inc.	2.900%	4/1/22	13,017		13,389
	NextEra Energy Capital Holdings Inc.	3.300%	8/15/22	200		209
	NextEra Energy Capital Holdings Inc.	2.800%	1/15/23	5,780		5,973
	NextEra Energy Capital Holdings Inc.	3.150%	4/1/24	24,247		25,738
	Northern States Power Co.	2.150%	8/15/22	2,875		2,928
	Northern States Power Co.	2.600%	5/15/23	6,906		7,120
	Ohio Power Co.	5.375%	10/1/21	6,787		7,218
	Oncor Electric Delivery Co. LLC	4.100%	6/1/22	6,018		6,324
	Oncor Electric Delivery Co. LLC	2.750%	6/1/24	8,482		8,846
	PacifiCorp	3.850%	6/15/21	4,437		4,551
	PacifiCorp	2.950%	2/1/22	6,917		7,096
	PacifiCorp	2.950%	6/1/23	3,650		3,796
	PacifiCorp	3.600%	4/1/24	4,825		5,183
	PECO Energy Co.	1.700%	9/15/21	4,388		4,414
	PECO Energy Co.	2.375%	9/15/22	2,229		2,279
	PNM Resources Inc.	3.250%	3/9/21	4,550		4,631
	Potomac Electric Power Co.	3.600%	3/15/24	5,636		6,047
	PPL Capital Funding Inc.	4.200%	6/15/22	8,029		8,427
	PPL Capital Funding Inc.	3.500%	12/1/22	7,026		7,332
	PPL Capital Funding Inc.	3.400%	6/1/23	8,551		8,899
	PPL Capital Funding Inc.	3.950%	3/15/24	3,956		4,239
	PPL Electric Utilities Corp.	3.000%	9/15/21	4,469		4,574
	Progress Energy Inc.	4.400%	1/15/21	6,825		6,949
	Progress Energy Inc.	3.150%	4/1/22	8,187		8,408
	PSEG Power LLC	3.000%	6/15/21	7,990		8,139
	PSEG Power LLC	3.850%	6/1/23	3,707		3,919
	Public Service Co. of Colorado	2.250%	9/15/22	6,972		7,101
	Public Service Co. of New Hampshire	3.500%	11/1/23	9,040		9,664
	Public Service Electric & Gas Co.	1.900%	3/15/21	9,325		9,380
	Public Service Electric & Gas Co.	2.375%	5/15/23	7,940		8,158
	Public Service Electric & Gas Co.	3.250%	9/1/23	2,750		2,911
	Public Service Enterprise Group Inc.	2.000%	11/15/21	5,200		5,237
	Public Service Enterprise Group Inc.	2.650%	11/15/22	6,780		6,956
	Public Service Enterprise Group Inc.	2.875%	6/15/24	14,746		15,412
	Puget Energy Inc.	6.500%	12/15/20	8,370		8,685
	Puget Energy Inc.	6.000%	9/1/21	11,208		11,958
	Puget Energy Inc.	5.625%	7/15/22	6,176		6,668
	San Diego Gas & Electric Co.	3.000%	8/15/21	3,506		3,581
	San Diego Gas & Electric Co.	3.600%	9/1/23	5,825		6,172
	Southern California Edison Co.	2.900%	3/1/21	3,150		3,194

Vanguard^® Short-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Southern California Edison Co.	3.875%	6/1/21	5,010		5,130
1	Southern California Edison Co.	1.845%	2/1/22	650		646
	Southern California Edison Co.	2.400%	2/1/22	5,025		5,096
	Southern California Edison Co.	3.400%	6/1/23	7,550		7,964
	Southern California Edison Co.	3.500%	10/1/23	10,373		10,985
	Southern Co.	2.350%	7/1/21	14,497		14,634
	Southern Co.	2.950%	7/1/23	12,278		12,753
1	Southern Co.	5.500%	3/15/57	3,750		3,886
	Southern Power Co.	2.500%	12/15/21	6,000		6,065
	Southwestern Public Service Co.	3.300%	6/15/24	4,875		5,182
	Union Electric Co.	3.500%	4/15/24	5,810		6,227
	Virginia Electric & Power Co.	2.950%	1/15/22	4,895		5,000
	Virginia Electric & Power Co.	3.450%	9/1/22	6,664		6,954
	Virginia Electric & Power Co.	2.750%	3/15/23	17,323		17,948
	Virginia Electric & Power Co.	3.450%	2/15/24	4,771		5,082
	WEC Energy Group Inc.	3.375%	6/15/21	3,486		3,567
	Wisconsin Electric Power Co.	2.950%	9/15/21	3,921		3,997
	Wisconsin Electric Power Co.	2.050%	12/15/24	6,000		6,187
	Wisconsin Public Service Corp.	3.350%	11/21/21	6,410		6,639
	Xcel Energy Inc.	2.400%	3/15/21	4,995		5,047
	Xcel Energy Inc.	2.600%	3/15/22	3,900		3,976
	Natural Gas (0.3%)
	CenterPoint Energy Resources Corp.	3.550%	4/1/23	4,435		4,664
	NiSource Inc.	2.650%	11/17/22	6,575		6,730
	NiSource Inc.	3.650%	6/15/23	6,450		6,840
	ONE Gas Inc.	3.610%	2/1/24	2,334		2,495
	Sempra Energy	2.875%	10/1/22	13,681		14,069
	Sempra Energy	2.900%	2/1/23	7,958		8,273
	Sempra Energy	4.050%	12/1/23	4,631		4,991
	Sempra Energy	3.550%	6/15/24	12,833		13,687
	Southern California Gas Co.	3.150%	9/15/24	6,297		6,749
	Southern Co. Gas Capital Corp.	3.500%	9/15/21	7,560		7,778
	Southern Co. Gas Capital Corp.	2.450%	10/1/23	5,790		5,899
	Other Utility (0.0%)
	American Water Capital Corp.	3.850%	3/1/24	3,466		3,782
						1,371,136
Total Corporate Bonds (Cost $30,463,290)						31,358,535

				Shares
Temporary Cash Investment (0.0%)
Money Market Fund (0.0%)
4	Vanguard Market Liquidity Fund (Cost $75)	1.706%		751		75
Total Investments (99.2%) (Cost $30,658,445)						31,554,577
Other Assets and Liabilities—Net (0.8%)						238,528
Net Assets (100%)						31,793,105

Cost rounded to $000

The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

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 February 29, 2020, the aggregate value of these securities was $765,773,000, representing 2.4% of net assets.

Securities with a value of $4,341,000 have been segregated as initial margin for open futures contracts.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

REIT—Real Estate Investment Trust.

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
U.S. Government and Agency Obligations (0.5%)
U.S. Government Securities
*	United States Treasury Note/Bond (Cost $132,204)	1.500%	2/15/30	128,115		132,478
Corporate Bonds (98.7%)
Finance (36.3%)
	Banking (25.0%)
	Ally Financial Inc.	4.625%	3/30/25	12,575		13,707
	American Express Co.	4.200%	11/6/25	25,957		29,349
	American Express Co.	3.125%	5/20/26	9,176		9,955
	American Express Credit Corp.	3.300%	5/3/27	30,911		33,750
	Associated Banc-Corp	4.250%	1/15/25	500		546
	Australia & New Zealand Banking Group Ltd.	3.700%	11/16/25	11,720		12,986
	Banco Santander SA	5.179%	11/19/25	15,918		18,119
	Banco Santander SA	4.250%	4/11/27	19,643		21,782
	Banco Santander SA	3.800%	2/23/28	17,845		19,177
	Banco Santander SA	4.379%	4/12/28	27,650		31,123
	Banco Santander SA	3.306%	6/27/29	20,473		22,051
	Bank of America Corp.	3.950%	4/21/25	51,452		56,176
	Bank of America Corp.	3.875%	8/1/25	28,543		31,514
1	Bank of America Corp.	3.093%	10/1/25	4,208		4,426
	Bank of America Corp.	4.450%	3/3/26	40,691		45,801
	Bank of America Corp.	3.500%	4/19/26	33,077		36,019
	Bank of America Corp.	6.220%	9/15/26	1,700		2,056
	Bank of America Corp.	4.250%	10/22/26	37,689		41,860
1	Bank of America Corp.	3.559%	4/23/27	38,250		41,499
	Bank of America Corp.	3.248%	10/21/27	48,549		52,002
	Bank of America Corp.	4.183%	11/25/27	32,337		35,774
1	Bank of America Corp.	3.824%	1/20/28	46,282		51,049
1	Bank of America Corp.	3.705%	4/24/28	36,213		39,739
1	Bank of America Corp.	3.593%	7/21/28	53,685		58,439
1	Bank of America Corp.	3.419%	12/20/28	85,176		91,996
1	Bank of America Corp.	3.970%	3/5/29	63,416		71,247
1	Bank of America Corp.	4.271%	7/23/29	72,087		82,821
1	Bank of America Corp.	3.974%	2/7/30	50,600		57,429
1	Bank of America Corp.	3.194%	7/23/30	42,280		45,256
1	Bank of America Corp.	2.884%	10/22/30	32,458		33,977
1	Bank of America Corp.	2.496%	2/13/31	24,650		25,015
1	Bank of Montreal	3.803%	12/15/32	18,115		19,677
	Bank of New York Mellon Corp.	3.000%	2/24/25	10,679		11,299
	Bank of New York Mellon Corp.	3.950%	11/18/25	13,952		15,657
	Bank of New York Mellon Corp.	2.800%	5/4/26	24,879		26,522
	Bank of New York Mellon Corp.	2.450%	8/17/26	14,027		14,664
	Bank of New York Mellon Corp.	3.250%	5/16/27	20,244		22,173
	Bank of New York Mellon Corp.	3.400%	1/29/28	22,822		25,099
1	Bank of New York Mellon Corp.	3.442%	2/7/28	6,533		7,181
	Bank of New York Mellon Corp.	3.850%	4/28/28	831		957
	Bank of New York Mellon Corp.	3.000%	10/30/28	8,963		9,526
	Bank of New York Mellon Corp.	3.300%	8/23/29	7,476		8,180
	Bank of Nova Scotia	2.200%	2/3/25	12,000		12,221
	Bank of Nova Scotia	4.500%	12/16/25	16,002		18,041
	Bank of Nova Scotia	2.700%	8/3/26	26,500		27,790
	Bank One Corp.	7.625%	10/15/26	11,008		14,743
	Bank One Corp.	8.000%	4/29/27	14,371		19,873
	BankUnited Inc.	4.875%	11/17/25	7,125		8,083
	Barclays plc	3.650%	3/16/25	38,212		40,484
	Barclays plc	4.375%	1/12/26	42,306		46,713
	Barclays plc	5.200%	5/12/26	40,270		44,947
	Barclays plc	4.337%	1/10/28	26,174		28,712
	Barclays plc	4.836%	5/9/28	34,390		37,980
1	Barclays plc	4.972%	5/16/29	21,417		24,730
1	Barclays plc	5.088%	6/20/30	28,005		31,880

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	BBVA USA	3.875%	4/10/25	13,305		14,348
	BNP Paribas SA	4.250%	10/15/24	1		1
	BPCE SA	3.375%	12/2/26	6,585		7,120
2	BPCE SA	3.250%	1/11/28	3,975		4,240
	Capital One Financial Corp.	4.250%	4/30/25	11,609		12,951
	Capital One Financial Corp.	4.200%	10/29/25	36,818		40,016
	Capital One Financial Corp.	3.750%	7/28/26	33,650		35,896
	Capital One Financial Corp.	3.750%	3/9/27	30,082		32,789
	Capital One Financial Corp.	3.800%	1/31/28	8,296		9,054
	Citigroup Inc.	3.875%	3/26/25	12,135		13,019
	Citigroup Inc.	3.300%	4/27/25	14,353		15,380
	Citigroup Inc.	4.400%	6/10/25	49,103		54,721
	Citigroup Inc.	5.500%	9/13/25	23,680		27,682
	Citigroup Inc.	3.700%	1/12/26	38,029		41,605
	Citigroup Inc.	4.600%	3/9/26	35,912		40,617
	Citigroup Inc.	3.400%	5/1/26	35,089		37,702
	Citigroup Inc.	3.200%	10/21/26	59,965		64,043
	Citigroup Inc.	4.300%	11/20/26	27,430		30,505
	Citigroup Inc.	4.450%	9/29/27	57,980		65,532
1	Citigroup Inc.	3.887%	1/10/28	54,157		59,846
	Citigroup Inc.	6.625%	1/15/28	2,095		2,709
1	Citigroup Inc.	3.668%	7/24/28	49,698		54,480
	Citigroup Inc.	4.125%	7/25/28	27,209		30,338
1	Citigroup Inc.	3.520%	10/27/28	44,709		48,346
1	Citigroup Inc.	4.075%	4/23/29	35,083		39,590
1	Citigroup Inc.	3.980%	3/20/30	85,675		96,905
1	Citigroup Inc.	2.976%	11/5/30	7,638		8,011
1	Citigroup Inc.	2.666%	1/29/31	27,150		27,697
	Citizens Bank NA	3.750%	2/18/26	9,513		10,436
	Citizens Financial Group Inc.	4.300%	12/3/25	4,437		4,938
	Citizens Financial Group Inc.	2.850%	7/27/26	19,122		20,091
	Citizens Financial Group Inc.	2.500%	2/6/30	2,595		2,644
	Comerica Bank	4.000%	7/27/25	4,660		5,162
	Comerica Inc.	3.800%	7/22/26	159		175
	Comerica Inc.	4.000%	2/1/29	4,500		5,080
	Cooperatieve Rabobank UA	3.375%	5/21/25	18,052		19,507
	Cooperatieve Rabobank UA	4.375%	8/4/25	21,778		24,167
	Cooperatieve Rabobank UA	3.750%	7/21/26	31,821		34,272
	Credit Suisse Group Funding Guernsey Ltd.	3.750%	3/26/25	36,108		39,009
	Credit Suisse Group Funding Guernsey Ltd.	4.550%	4/17/26	45,010		50,745
	Deutsche Bank AG	4.100%	1/13/26	340		359
	Deutsche Bank AG	4.100%	1/13/26	9,578		10,101
	Discover Bank	4.250%	3/13/26	4,561		5,057
	Discover Bank	3.450%	7/27/26	21,354		22,702
	Discover Bank	4.650%	9/13/28	13,240		15,353
	Discover Bank	2.700%	2/6/30	2,500		2,531
	Discover Financial Services	3.950%	11/6/24	7		8
	Discover Financial Services	3.750%	3/4/25	10,495		11,237
	Discover Financial Services	4.500%	1/30/26	15,901		17,695
	Discover Financial Services	4.100%	2/9/27	19,437		21,164
	Fifth Third Bancorp	3.950%	3/14/28	7,155		8,105
	Fifth Third Bank	3.950%	7/28/25	20,529		22,787
	Fifth Third Bank	3.850%	3/15/26	14,720		16,168
	Fifth Third Bank	2.250%	2/1/27	12,375		12,594
	FirstMerit Bank NA	4.270%	11/25/26	450		500
	Goldman Sachs Group Inc.	3.750%	5/22/25	37,707		40,686
	Goldman Sachs Group Inc.	4.250%	10/21/25	36,365		39,750
	Goldman Sachs Group Inc.	3.750%	2/25/26	31,151		34,038
	Goldman Sachs Group Inc.	3.500%	11/16/26	38,098		40,969
	Goldman Sachs Group Inc.	5.950%	1/15/27	18,359		22,493
	Goldman Sachs Group Inc.	3.850%	1/26/27	65,373		71,696
1	Goldman Sachs Group Inc.	3.691%	6/5/28	43,630		47,612
1	Goldman Sachs Group Inc.	3.814%	4/23/29	84,382		92,707

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
1	Goldman Sachs Group Inc.	4.223%	5/1/29	53,104		60,195
	HSBC Holdings plc	4.250%	8/18/25	29,685		32,041
	HSBC Holdings plc	4.300%	3/8/26	53,627		59,699
	HSBC Holdings plc	3.900%	5/25/26	50,679		55,329
1	HSBC Holdings plc	4.292%	9/12/26	51,218		56,292
	HSBC Holdings plc	4.375%	11/23/26	32,680		35,682
1	HSBC Holdings plc	4.041%	3/13/28	49,288		53,507
1	HSBC Holdings plc	4.583%	6/19/29	47,659		54,198
1	HSBC Holdings plc	3.973%	5/22/30	36,536		39,743
	Huntington Bancshares Inc.	4.000%	5/15/25	9,251		10,232
	Huntington Bancshares Inc.	2.550%	2/4/30	6,185		6,301
	ING Groep NV	3.950%	3/29/27	27,323		30,310
	ING Groep NV	4.550%	10/2/28	24,921		29,123
	ING Groep NV	4.050%	4/9/29	8,400		9,498
	JPMorgan Chase & Co.	3.875%	9/10/24	1		1
	JPMorgan Chase & Co.	3.900%	7/15/25	51,979		57,394
	JPMorgan Chase & Co.	3.300%	4/1/26	50,366		54,398
	JPMorgan Chase & Co.	3.200%	6/15/26	44,397		47,465
	JPMorgan Chase & Co.	2.950%	10/1/26	43,133		45,558
	JPMorgan Chase & Co.	4.125%	12/15/26	22,683		25,410
1	JPMorgan Chase & Co.	3.960%	1/29/27	29,019		32,187
	JPMorgan Chase & Co.	4.250%	10/1/27	35,839		40,720
	JPMorgan Chase & Co.	3.625%	12/1/27	29,764		32,233
1	JPMorgan Chase & Co.	3.782%	2/1/28	38,611		42,713
1	JPMorgan Chase & Co.	3.540%	5/1/28	44,721		48,690
1	JPMorgan Chase & Co.	3.509%	1/23/29	49,297		53,736
1	JPMorgan Chase & Co.	4.005%	4/23/29	52,953		59,775
1	JPMorgan Chase & Co.	4.203%	7/23/29	45,782		52,551
1	JPMorgan Chase & Co.	4.452%	12/5/29	41,985		49,117
1	JPMorgan Chase & Co.	3.702%	5/6/30	38,025		42,102
1	JPMorgan Chase & Co.	2.739%	10/15/30	46,671		48,655
	KeyBank NA	3.300%	6/1/25	14,870		16,048
	KeyBank NA	3.400%	5/20/26	9,936		10,780
	KeyBank NA	6.950%	2/1/28	4,814		6,299
	KeyBank NA	3.900%	4/13/29	6,485		7,292
	KeyCorp	4.150%	10/29/25	11,132		12,553
	KeyCorp	2.250%	4/6/27	13,670		13,774
	KeyCorp	4.100%	4/30/28	9,387		10,661
	KeyCorp	2.550%	10/1/29	13,408		13,615
	Lloyds Bank plc	3.500%	5/14/25	6,600		7,100
	Lloyds Banking Group plc	4.500%	11/4/24	203		221
	Lloyds Banking Group plc	4.450%	5/8/25	13,610		15,183
	Lloyds Banking Group plc	4.582%	12/10/25	37,770		41,525
1	Lloyds Banking Group plc	2.438%	2/5/26	17,000		17,239
	Lloyds Banking Group plc	4.650%	3/24/26	34,046		37,557
	Lloyds Banking Group plc	3.750%	1/11/27	13,623		14,758
	Lloyds Banking Group plc	4.375%	3/22/28	38,204		43,157
	Lloyds Banking Group plc	4.550%	8/16/28	20,516		23,529
1	Lloyds Banking Group plc	3.574%	11/7/28	18,924		20,126
	Manufacturers & Traders Trust Co.	3.400%	8/17/27	18,074		19,916
	Mitsubishi UFJ Financial Group Inc.	3.777%	3/2/25	13,079		14,140
	Mitsubishi UFJ Financial Group Inc.	3.850%	3/1/26	44,408		49,203
	Mitsubishi UFJ Financial Group Inc.	2.757%	9/13/26	17,865		18,745
	Mitsubishi UFJ Financial Group Inc.	3.677%	2/22/27	17,589		19,260
	Mitsubishi UFJ Financial Group Inc.	3.287%	7/25/27	24,544		26,550
	Mitsubishi UFJ Financial Group Inc.	3.961%	3/2/28	29,015		33,095
	Mitsubishi UFJ Financial Group Inc.	4.050%	9/11/28	15,254		17,409
	Mitsubishi UFJ Financial Group Inc.	3.741%	3/7/29	43,709		48,660
	Mitsubishi UFJ Financial Group Inc.	3.195%	7/18/29	29,825		31,879
	Mitsubishi UFJ Financial Group Inc.	2.559%	2/25/30	13,000		13,050
1	Mizuho Financial Group Inc.	2.226%	5/25/26	13,288		13,371
	Mizuho Financial Group Inc.	2.839%	9/13/26	9,930		10,409

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Mizuho Financial Group Inc.	3.663%	2/28/27	7,140		7,784
	Mizuho Financial Group Inc.	3.170%	9/11/27	20,432		21,643
	Mizuho Financial Group Inc.	4.018%	3/5/28	22,024		24,917
1	Mizuho Financial Group Inc.	4.254%	9/11/29	10,095		11,487
1	Mizuho Financial Group Inc.	3.153%	7/16/30	14,303		15,173
1	Mizuho Financial Group Inc.	2.869%	9/13/30	13,325		13,778
	Morgan Stanley	4.000%	7/23/25	66,483		73,734
	Morgan Stanley	5.000%	11/24/25	48,876		56,296
	Morgan Stanley	3.875%	1/27/26	51,968		57,191
	Morgan Stanley	3.125%	7/27/26	39,888		42,347
	Morgan Stanley	6.250%	8/9/26	15,356		19,263
	Morgan Stanley	4.350%	9/8/26	50,744		56,586
	Morgan Stanley	3.625%	1/20/27	49,395		54,088
	Morgan Stanley	3.950%	4/23/27	34,301		37,734
1	Morgan Stanley	3.591%	7/22/28	68,975		75,386
1	Morgan Stanley	3.772%	1/24/29	42,786		47,430
1	Morgan Stanley	4.431%	1/23/30	39,460		45,927
1	Morgan Stanley	2.699%	1/22/31	61,230		62,894
	National Australia Bank Ltd.	3.375%	1/14/26	10,945		11,884
	National Australia Bank Ltd.	2.500%	7/12/26	19,408		20,140
	Northern Trust Corp.	3.950%	10/30/25	8,918		9,977
	Northern Trust Corp.	3.650%	8/3/28	8,005		9,149
	Northern Trust Corp.	3.150%	5/3/29	10,263		11,162
1	Northern Trust Corp.	3.375%	5/8/32	4,578		4,875
	PNC Bank NA	3.300%	10/30/24	1		1
	PNC Bank NA	2.950%	2/23/25	11,896		12,733
	PNC Bank NA	3.250%	6/1/25	29,599		32,145
	PNC Bank NA	4.200%	11/1/25	13,442		15,177
	PNC Bank NA	3.100%	10/25/27	20,798		22,275
	PNC Bank NA	3.250%	1/22/28	9,485		10,507
	PNC Bank NA	4.050%	7/26/28	27,084		30,820
	PNC Bank NA	2.700%	10/22/29	5,510		5,730
	PNC Financial Services Group Inc.	2.600%	7/23/26	4,817		5,019
	PNC Financial Services Group Inc.	3.150%	5/19/27	17,859		19,111
	PNC Financial Services Group Inc.	3.450%	4/23/29	16,729		18,403
	PNC Financial Services Group Inc.	2.550%	1/22/30	36,325		37,530
	Royal Bank of Canada	4.650%	1/27/26	21,077		24,225
	Royal Bank of Scotland Group plc	4.800%	4/5/26	13,019		14,818
1	Royal Bank of Scotland Group plc	4.892%	5/18/29	25,605		29,626
1	Royal Bank of Scotland Group plc	5.076%	1/27/30	37,400		44,217
1	Royal Bank of Scotland Group plc	4.445%	5/8/30	26,675		30,282
	Santander Holdings USA Inc.	4.500%	7/17/25	19,783		21,747
	Santander Holdings USA Inc.	3.244%	10/5/26	5,700		5,966
	Santander Holdings USA Inc.	4.400%	7/13/27	24,264		26,528
1	Santander UK Group Holdings plc	3.823%	11/3/28	12,832		13,898
	State Street Corp.	3.300%	12/16/24	2,454		2,628
	State Street Corp.	3.550%	8/18/25	31,359		34,547
	State Street Corp.	2.650%	5/19/26	12,790		13,404
1	State Street Corp.	4.141%	12/3/29	6,800		7,913
	State Street Corp.	2.400%	1/24/30	9,000		9,202
1	State Street Corp.	3.031%	11/1/34	1,340		1,429
	Sumitomo Mitsui Banking Corp.	3.650%	7/23/25	4,500		4,908
	Sumitomo Mitsui Financial Group Inc.	3.784%	3/9/26	33,289		36,689
	Sumitomo Mitsui Financial Group Inc.	2.632%	7/14/26	25,112		25,924
	Sumitomo Mitsui Financial Group Inc.	3.010%	10/19/26	27,182		28,848
	Sumitomo Mitsui Financial Group Inc.	3.446%	1/11/27	32,426		35,153
	Sumitomo Mitsui Financial Group Inc.	3.364%	7/12/27	19,100		20,709
	Sumitomo Mitsui Financial Group Inc.	3.352%	10/18/27	15,500		16,725
	Sumitomo Mitsui Financial Group Inc.	3.544%	1/17/28	13,455		14,688
	Sumitomo Mitsui Financial Group Inc.	3.944%	7/19/28	25,985		29,331
	Sumitomo Mitsui Financial Group Inc.	4.306%	10/16/28	7,035		8,158
	Sumitomo Mitsui Financial Group Inc.	3.040%	7/16/29	29,140		30,953
	Sumitomo Mitsui Financial Group Inc.	3.202%	9/17/29	9,060		9,731

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Sumitomo Mitsui Financial Group Inc.	2.724%	9/27/29	11,350		11,744
	Sumitomo Mitsui Financial Group Inc.	2.750%	1/15/30	33,100		34,327
	SVB Financial Group	3.500%	1/29/25	3,640		3,915
	Synchrony Financial	4.500%	7/23/25	17,319		18,970
	Synchrony Financial	3.700%	8/4/26	11,244		11,907
	Synchrony Financial	3.950%	12/1/27	10,920		11,739
	Synchrony Financial	5.150%	3/19/29	12,162		14,083
1	Toronto-Dominion Bank	3.625%	9/15/31	18,306		19,793
	Truist Bank	3.625%	9/16/25	6,669		7,281
	Truist Bank	4.050%	11/3/25	18,117		20,302
	Truist Bank	3.300%	5/15/26	19,169		20,595
	Truist Bank	3.800%	10/30/26	12,852		14,417
	Truist Financial Corp.	2.850%	10/26/24	1		1
	Truist Financial Corp.	4.000%	5/1/25	16,699		18,504
	Truist Financial Corp.	3.700%	6/5/25	22,002		24,189
	Truist Financial Corp.	3.875%	3/19/29	10,190		11,578
	US Bancorp	3.950%	11/17/25	27,930		31,427
	US Bancorp	3.100%	4/27/26	12,257		13,126
	US Bancorp	2.375%	7/22/26	23,943		24,962
	US Bancorp	3.150%	4/27/27	16,822		18,192
	US Bancorp	3.900%	4/26/28	9,411		10,938
	US Bancorp	3.000%	7/30/29	18,850		20,098
	Wachovia Corp.	7.574%	8/1/26	3,024		3,949
	Webster Financial Corp.	4.100%	3/25/29	4,675		5,253
	Wells Fargo & Co.	3.550%	9/29/25	44,846		48,678
	Wells Fargo & Co.	3.000%	4/22/26	69,075		72,766
	Wells Fargo & Co.	4.100%	6/3/26	55,978		61,535
	Wells Fargo & Co.	3.000%	10/23/26	68,970		72,943
1	Wells Fargo & Co.	3.196%	6/17/27	44,688		47,552
	Wells Fargo & Co.	4.300%	7/22/27	32,521		36,558
1	Wells Fargo & Co.	3.584%	5/22/28	43,348		47,081
	Wells Fargo & Co.	4.150%	1/24/29	31,326		36,000
1	Wells Fargo & Co.	2.879%	10/30/30	96,425		100,505
1	Wells Fargo & Co.	2.572%	2/11/31	35,000		35,407
	Westpac Banking Corp.	2.850%	5/13/26	40,296		42,600
	Westpac Banking Corp.	2.700%	8/19/26	20,734		21,830
	Westpac Banking Corp.	3.350%	3/8/27	20,532		22,472
	Westpac Banking Corp.	3.400%	1/25/28	11,111		12,430
	Westpac Banking Corp.	2.650%	1/16/30	18,250		19,029
1	Westpac Banking Corp.	4.322%	11/23/31	24,300		26,578
	Westpac Banking Corp.	4.110%	7/24/34	29,545		32,278
	Zions Bancorp NA	3.250%	10/29/29	16,380		17,002
	Brokerage (1.5%)
	Affiliated Managers Group Inc.	3.500%	8/1/25	5,741		6,225
	Ameriprise Financial Inc.	2.875%	9/15/26	11,201		11,984
	BlackRock Inc.	3.200%	3/15/27	12,626		14,035
	BlackRock Inc.	3.250%	4/30/29	11,892		13,081
	Brookfield Finance Inc.	4.250%	6/2/26	7,384		8,246
	Brookfield Finance Inc.	3.900%	1/25/28	13,803		15,276
	Brookfield Finance Inc.	4.850%	3/29/29	17,400		20,605
	Cboe Global Markets Inc.	3.650%	1/12/27	11,463		12,806
	Charles Schwab Corp.	3.000%	3/10/25	5,695		6,084
	Charles Schwab Corp.	3.850%	5/21/25	16,032		17,804
	Charles Schwab Corp.	3.450%	2/13/26	5,535		6,075
	Charles Schwab Corp.	3.200%	3/2/27	9,739		10,570
	Charles Schwab Corp.	3.200%	1/25/28	10,391		11,374
	Charles Schwab Corp.	4.000%	2/1/29	11,640		13,372
	Charles Schwab Corp.	3.250%	5/22/29	12,665		13,807
	CME Group Inc.	3.000%	3/15/25	12,305		13,007
	CME Group Inc.	3.750%	6/15/28	9,002		10,260
	E*TRADE Financial Corp.	3.800%	8/24/27	7,239		7,943
	E*TRADE Financial Corp.	4.500%	6/20/28	6,904		7,994

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020


		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Eaton Vance Corp.	3.500%	4/6/27	5,258		5,829
	Franklin Resources Inc.	2.850%	3/30/25	7,863		8,385
	Intercontinental Exchange Inc.	3.750%	12/1/25	23,442		25,742
	Intercontinental Exchange Inc.	3.100%	9/15/27	6,665		7,158
	Intercontinental Exchange Inc.	3.750%	9/21/28	6,311		7,030
	Invesco Finance plc	3.750%	1/15/26	9,235		10,213
	Janus Capital Group Inc.	4.875%	8/1/25	4,555		5,076
	Jefferies Group LLC	4.850%	1/15/27	20,415		22,434
	Jefferies Group LLC	6.450%	6/8/27	5,369		6,469
	Jefferies Group LLC / Jefferies Group Capital Finance Inc.	4.150%	1/23/30	11,345		12,290
	Lazard Group LLC	3.750%	2/13/25	3,314		3,600
	Lazard Group LLC	3.625%	3/1/27	13,202		14,264
	Lazard Group LLC	4.500%	9/19/28	9,108		10,518
	Lazard Group LLC	4.375%	3/11/29	2,731		3,086
	Legg Mason Inc.	4.750%	3/15/26	7,266		8,353
	Nasdaq Inc.	3.850%	6/30/26	8,902		9,795
	Nomura Holdings Inc.	3.103%	1/16/30	31,050		32,081
	Raymond James Financial Inc.	3.625%	9/15/26	8,737		9,580
	TD Ameritrade Holding Corp.	3.625%	4/1/25	11,021		11,987
	TD Ameritrade Holding Corp.	3.300%	4/1/27	19,062		20,555
	TD Ameritrade Holding Corp.	2.750%	10/1/29	6,234		6,476
	Finance Companies (0.8%)
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	4.450%	10/1/25	8,763		9,574
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.650%	7/21/27	15,179		15,647
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.500%	1/15/25	203		212
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	4.450%	4/3/26	12,757		13,857
	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	3.875%	1/23/28	12,112		12,702
	Air Lease Corp.	2.300%	2/1/25	5,597		5,603
	Air Lease Corp.	3.250%	3/1/25	13,183		13,722
	Air Lease Corp.	3.750%	6/1/26	600		642
	Air Lease Corp.	3.625%	4/1/27	14,082		14,876
	Air Lease Corp.	3.625%	12/1/27	9,207		9,713
	Air Lease Corp.	4.625%	10/1/28	8,702		9,801
	Air Lease Corp.	3.250%	10/1/29	12,177		12,522
	Air Lease Corp.	3.000%	2/1/30	9,617		9,514
	Aircastle Ltd.	4.250%	6/15/26	11,802		12,666
	Apollo Investment Corp.	5.250%	3/3/25	5,000		5,265
	Ares Capital Corp.	4.250%	3/1/25	9,565		10,158
	Ares Capital Corp.	3.250%	7/15/25	15,195		15,459
	GATX Corp.	3.250%	3/30/25	1,908		2,008
	GATX Corp.	3.250%	9/15/26	5,920		6,234
	GATX Corp.	3.850%	3/30/27	8,138		8,781
	GATX Corp.	3.500%	3/15/28	6,252		6,633
	GATX Corp.	4.550%	11/7/28	8,325		9,455
	GATX Corp.	4.700%	4/1/29	3,166		3,688
	GE Capital International Funding Co. Unlimited Co.	3.373%	11/15/25	36,075		38,383
	Owl Rock Capital Corp.	4.000%	3/30/25	7,300		7,577
	Owl Rock Capital Corp.	3.750%	7/22/25	9,180		9,432
	TPG Specialty Lending Inc.	3.875%	11/1/24	1		1
	Insurance (4.0%)
1	Aegon NV	5.500%	4/11/48	12,645		14,020
	Aflac Inc.	3.250%	3/17/25	3,030		3,275
	Aflac Inc.	2.875%	10/15/26	6,841		7,294
	Allied World Assurance Co. Holdings Ltd.	4.350%	10/29/25	6,373		6,873
	Allstate Corp.	3.280%	12/15/26	6,068		6,657
	American Equity Investment Life Holding Co.	5.000%	6/15/27	7,064		7,806
	American Financial Group Inc.	3.500%	8/15/26	6,935		7,497

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	American International Group Inc.	3.750%	7/10/25	27,815		30,261
	American International Group Inc.	3.900%	4/1/26	25,405		28,128
	American International Group Inc.	4.200%	4/1/28	12,831		14,553
	American International Group Inc.	4.250%	3/15/29	9,014		10,314
1	American International Group Inc.	5.750%	4/1/48	10,825		12,382
	Anthem Inc.	2.375%	1/15/25	4		4
	Anthem Inc.	3.650%	12/1/27	29,023		31,797
	Anthem Inc.	4.101%	3/1/28	22,841		25,529
	Anthem Inc.	2.875%	9/15/29	20,327		20,864
	Aon Corp.	8.205%	1/1/27	5,056		6,560
	Aon Corp.	4.500%	12/15/28	11,571		13,600
	Aon Corp.	3.750%	5/2/29	4,873		5,432
	Aon plc	3.875%	12/15/25	17,391		19,497
	Arch Capital Finance LLC	4.011%	12/15/26	8,569		9,777
	Assurant Inc.	4.900%	3/27/28	5,100		5,905
	Assurant Inc.	3.700%	2/22/30	1,000		1,082
	Athene Holding Ltd.	4.125%	1/12/28	16,686		17,934
	AXIS Specialty Finance LLC	3.900%	7/15/29	8,000		8,726
1	AXIS Specialty Finance LLC	4.900%	1/15/40	5,500		5,608
	AXIS Specialty Finance plc	4.000%	12/6/27	5,720		6,344
	Berkshire Hathaway Inc.	3.125%	3/15/26	58,594		63,421
	Brighthouse Financial Inc.	3.700%	6/22/27	17,679		17,981
	Brown & Brown Inc.	4.500%	3/15/29	5,000		5,692
	Chubb INA Holdings Inc.	3.150%	3/15/25	20,476		22,232
	Chubb INA Holdings Inc.	3.350%	5/3/26	26,252		29,089
	Cincinnati Financial Corp.	6.920%	5/15/28	4,950		6,705
	CNA Financial Corp.	4.500%	3/1/26	10,095		11,493
	CNA Financial Corp.	3.450%	8/15/27	9,648		10,569
	CNA Financial Corp.	3.900%	5/1/29	9,189		10,533
	CNO Financial Group Inc.	5.250%	5/30/25	6,075		6,857
	CNO Financial Group Inc.	5.250%	5/30/29	11,307		12,904
	Enstar Group Ltd.	4.950%	6/1/29	11,439		13,164
	Equitable Holdings Inc.	7.000%	4/1/28	4,500		5,810
	Equitable Holdings Inc.	4.350%	4/20/28	30,913		34,437
	Fairfax Financial Holdings Ltd.	4.850%	4/17/28	9,876		10,993
	Fidelity National Financial Inc.	4.500%	8/15/28	2,200		2,522
	First American Financial Corp.	4.600%	11/15/24	2		2
	Globe Life Inc.	4.550%	9/15/28	9,723		11,333
	Hanover Insurance Group Inc.	4.500%	4/15/26	5,855		6,581
	Hartford Financial Services Group Inc.	2.800%	8/19/29	9,861		10,301
	Humana Inc.	3.950%	3/15/27	11,069		12,307
	Humana Inc.	3.125%	8/15/29	14,195		14,973
	Lincoln National Corp.	3.350%	3/9/25	6,327		6,830
	Lincoln National Corp.	3.625%	12/12/26	6,865		7,482
	Lincoln National Corp.	3.800%	3/1/28	7,678		8,632
	Lincoln National Corp.	3.050%	1/15/30	10,042		10,641
	Loews Corp.	3.750%	4/1/26	7,652		8,519
	Manulife Financial Corp.	4.150%	3/4/26	24,448		27,559
1	Manulife Financial Corp.	4.061%	2/24/32	12,875		13,851
	Markel Corp.	3.500%	11/1/27	3,416		3,737
	Markel Corp.	3.350%	9/17/29	5,015		5,422
	Marsh & McLennan Cos. Inc.	4.050%	10/15/23	925		1,003
	Marsh & McLennan Cos. Inc.	3.500%	3/10/25	6,096		6,595
	Marsh & McLennan Cos. Inc.	3.750%	3/14/26	9,641		10,692
	Marsh & McLennan Cos. Inc.	4.375%	3/15/29	28,303		32,898
	Mercury General Corp.	4.400%	3/15/27	6,092		6,665
	MetLife Inc.	3.000%	3/1/25	8,765		9,457
	MetLife Inc.	3.600%	11/13/25	10,725		11,806
	Munich Re America Corp.	7.450%	12/15/26	1,550		2,039
	Old Republic International Corp.	3.875%	8/26/26	9,415		10,394
	PartnerRe Finance B LLC	3.700%	7/2/29	8,147		9,070
	Principal Financial Group Inc.	3.400%	5/15/25	8,401		9,113
	Principal Financial Group Inc.	3.100%	11/15/26	13,999		15,032

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Principal Financial Group Inc.	3.700%	5/15/29	6,207		7,062
	Progressive Corp.	2.450%	1/15/27	17,464		18,336
	Progressive Corp.	4.000%	3/1/29	5,280		6,202
	Progressive Corp.	6.625%	3/1/29	1,652		2,297
	Prudential Financial Inc.	3.878%	3/27/28	9,279		10,461
1	Prudential Financial Inc.	5.200%	3/15/44	2,755		2,906
1	Prudential Financial Inc.	5.375%	5/15/45	14,198		15,650
1	Prudential Financial Inc.	4.500%	9/15/47	14,490		15,839
1	Prudential Financial Inc.	5.700%	9/15/48	18,425		21,067
	Reinsurance Group of America Inc.	3.950%	9/15/26	7,750		8,572
	Reinsurance Group of America Inc.	3.900%	5/15/29	9,689		10,796
	RenaissanceRe Finance Inc.	3.700%	4/1/25	3,150		3,452
	RenaissanceRe Finance Inc.	3.450%	7/1/27	5,280		5,776
	RenaissanceRe Holdings Ltd.	3.600%	4/15/29	4,525		5,090
	Swiss Re Solutions Holding Corp.	7.000%	2/15/26	4,823		6,222
	Trinity Acquisition plc	4.400%	3/15/26	8,938		10,067
	UnitedHealth Group Inc.	3.750%	7/15/25	36,096		40,108
	UnitedHealth Group Inc.	3.700%	12/15/25	4,799		5,338
	UnitedHealth Group Inc.	3.100%	3/15/26	20,474		22,010
	UnitedHealth Group Inc.	3.450%	1/15/27	17,452		19,034
	UnitedHealth Group Inc.	3.375%	4/15/27	5,939		6,446
	UnitedHealth Group Inc.	2.950%	10/15/27	22,104		23,652
	UnitedHealth Group Inc.	3.850%	6/15/28	17,150		19,387
	UnitedHealth Group Inc.	3.875%	12/15/28	14,647		16,650
	UnitedHealth Group Inc.	2.875%	8/15/29	16,515		17,558
	Unum Group	4.000%	6/15/29	7,740		8,614
	Voya Financial Inc.	3.650%	6/15/26	7,596		8,416
1	Voya Financial Inc.	4.700%	1/23/48	8,100		8,123
	Willis North America Inc.	4.500%	9/15/28	17,649		20,162
	Willis North America Inc.	2.950%	9/15/29	10,316		10,625
	XLIT Ltd.	4.450%	3/31/25	7,984		8,953
	Other Finance (0.0%)
	ORIX Corp.	3.700%	7/18/27	7,041		7,738
	Real Estate Investment Trusts (5.0%)
	Alexandria Real Estate Equities Inc.	3.450%	4/30/25	10,165		10,978
	Alexandria Real Estate Equities Inc.	4.300%	1/15/26	8,564		9,687
	Alexandria Real Estate Equities Inc.	3.800%	4/15/26	13,440		14,816
	Alexandria Real Estate Equities Inc.	3.950%	1/15/27	2,341		2,593
	Alexandria Real Estate Equities Inc.	3.950%	1/15/28	7,620		8,545
	Alexandria Real Estate Equities Inc.	4.500%	7/30/29	3,279		3,887
	Alexandria Real Estate Equities Inc.	2.750%	12/15/29	4,619		4,801
	American Campus Communities Operating Partnership LP	3.300%	7/15/26	4,115		4,391
	American Campus Communities Operating Partnership LP	3.625%	11/15/27	7,988		8,732
	American Campus Communities Operating Partnership LP	2.850%	2/1/30	7,278		7,412
	American Homes 4 Rent LP	4.250%	2/15/28	9,848		10,897
	American Homes 4 Rent LP	4.900%	2/15/29	6,200		7,246
	AvalonBay Communities Inc.	3.500%	11/15/24	6		6
	AvalonBay Communities Inc.	3.450%	6/1/25	9,500		10,288
	AvalonBay Communities Inc.	3.500%	11/15/25	6,110		6,693
	AvalonBay Communities Inc.	2.950%	5/11/26	9,066		9,723
	AvalonBay Communities Inc.	2.900%	10/15/26	4,601		4,922
	AvalonBay Communities Inc.	3.350%	5/15/27	7,649		8,350
	AvalonBay Communities Inc.	3.200%	1/15/28	8,998		9,734
	AvalonBay Communities Inc.	3.300%	6/1/29	5,491		6,027
	AvalonBay Communities Inc.	2.300%	3/1/30	5,000		5,077
	Boston Properties LP	3.650%	2/1/26	17,684		19,161
	Boston Properties LP	2.750%	10/1/26	24,045		25,132
	Boston Properties LP	4.500%	12/1/28	19,269		22,748

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Boston Properties LP	3.400%	6/21/29	4,726		5,164
Brandywine Operating Partnership LP	3.950%	11/15/27	7,272		7,933
Brandywine Operating Partnership LP	4.550%	10/1/29	5,400		6,176
Brixmor Operating Partnership LP	4.125%	6/15/26	12,338		13,658
Brixmor Operating Partnership LP	3.900%	3/15/27	8,505		9,253
Brixmor Operating Partnership LP	4.125%	5/15/29	16,467		18,331
Camden Property Trust	4.100%	10/15/28	8,296		9,649
Camden Property Trust	3.150%	7/1/29	16,325		17,950
Columbia Property Trust Operating Partnership LP	4.150%	4/1/25	9,273		10,000
Columbia Property Trust Operating Partnership LP	3.650%	8/15/26	3,667		3,911
Corporate Office Properties LP	5.000%	7/1/25	2,660		2,959
CubeSmart LP	4.000%	11/15/25	5,316		5,858
CubeSmart LP	3.125%	9/1/26	7,408		7,868
CubeSmart LP	4.375%	2/15/29	3,695		4,255
CubeSmart LP	3.000%	2/15/30	1,875		1,966
CyrusOne LP / CyrusOne Finance Corp.	3.450%	11/15/29	8,075		8,314
Digital Realty Trust LP	4.750%	10/1/25	6,205		7,064
Digital Realty Trust LP	3.700%	8/15/27	10,585		11,622
Digital Realty Trust LP	4.450%	7/15/28	24,467		28,146
Digital Realty Trust LP	3.600%	7/1/29	15,499		16,710
Duke Realty LP	3.250%	6/30/26	4,914		5,306
Duke Realty LP	3.375%	12/15/27	6,154		6,603
Duke Realty LP	4.000%	9/15/28	6,215		7,016
Duke Realty LP	2.875%	11/15/29	6,000		6,331
EPR Properties	4.500%	4/1/25	4,393		4,821
EPR Properties	4.750%	12/15/26	7,317		8,243
EPR Properties	4.500%	6/1/27	7,618		8,458
EPR Properties	4.950%	4/15/28	10,405		11,814
EPR Properties	3.750%	8/15/29	7,150		7,503
ERP Operating LP	3.375%	6/1/25	6,425		6,991
ERP Operating LP	2.850%	11/1/26	5,124		5,448
ERP Operating LP	3.250%	8/1/27	6,017		6,538
ERP Operating LP	3.500%	3/1/28	9,459		10,342
ERP Operating LP	4.150%	12/1/28	5,007		5,868
ERP Operating LP	3.000%	7/1/29	10,160		10,914
ERP Operating LP	2.500%	2/15/30	2,340		2,414
Essex Portfolio LP	3.500%	4/1/25	7,394		7,954
Essex Portfolio LP	3.375%	4/15/26	8,607		9,297
Essex Portfolio LP	3.625%	5/1/27	7,088		7,740
Essex Portfolio LP	4.000%	3/1/29	11,233		12,584
Essex Portfolio LP	3.000%	1/15/30	3,300		3,463
Federal Realty Investment Trust	3.250%	7/15/27	11,269		12,076
Federal Realty Investment Trust	3.200%	6/15/29	5,260		5,682
Healthcare Realty Trust Inc.	3.625%	1/15/28	6,668		7,163
Healthcare Trust of America Holdings LP	3.500%	8/1/26	11,089		11,973
Healthcare Trust of America Holdings LP	3.750%	7/1/27	6,903		7,660
Healthcare Trust of America Holdings LP	3.100%	2/15/30	3,235		3,381
Healthpeak Properties Inc.	4.000%	6/1/25	11,729		12,864
Healthpeak Properties Inc.	3.250%	7/15/26	11,145		12,016
Healthpeak Properties Inc.	3.500%	7/15/29	14,500		15,578
Healthpeak Properties Inc.	3.000%	1/15/30	12,255		12,856
Highwoods Realty LP	3.875%	3/1/27	7,970		8,649
Highwoods Realty LP	4.125%	3/15/28	4,300		4,777
Highwoods Realty LP	4.200%	4/15/29	5,475		6,162
Highwoods Realty LP	3.050%	2/15/30	2,200		2,291
Host Hotels & Resorts LP	4.000%	6/15/25	9,605		10,492
Host Hotels & Resorts LP	4.500%	2/1/26	3,274		3,683
Host Hotels & Resorts LP	3.375%	12/15/29	12,655		13,173
Hudson Pacific Properties LP	3.950%	11/1/27	13,208		14,516
Hudson Pacific Properties LP	4.650%	4/1/29	6,800		7,796
Hudson Pacific Properties LP	3.250%	1/15/30	3,136		3,267
Kilroy Realty LP	4.375%	10/1/25	8,047		9,012
Kilroy Realty LP	4.750%	12/15/28	13,185		15,686
Kilroy Realty LP	4.250%	8/15/29	10,345		11,816

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Kilroy Realty LP	3.050%	2/15/30	1,000		1,036
Kimco Realty Corp.	2.800%	10/1/26	9,717		10,080
Kimco Realty Corp.	3.800%	4/1/27	7,052		7,780
Kite Realty Group LP	4.000%	10/1/26	4,712		4,921
Life Storage LP	3.500%	7/1/26	8,465		9,098
Life Storage LP	3.875%	12/15/27	7,821		8,567
Life Storage LP	4.000%	6/15/29	6,425		7,175
Mid-America Apartments LP	4.000%	11/15/25	7,772		8,682
Mid-America Apartments LP	3.600%	6/1/27	14,534		15,862
Mid-America Apartments LP	4.200%	6/15/28	4,440		5,038
Mid-America Apartments LP	3.950%	3/15/29	10,734		12,199
National Retail Properties Inc.	4.000%	11/15/25	5,667		6,276
National Retail Properties Inc.	3.600%	12/15/26	6,752		7,422
National Retail Properties Inc.	3.500%	10/15/27	3,900		4,248
National Retail Properties Inc.	4.300%	10/15/28	7,735		8,959
National Retail Properties Inc.	2.500%	4/15/30	2,200		2,226
Omega Healthcare Investors Inc.	5.250%	1/15/26	16,665		19,191
Omega Healthcare Investors Inc.	4.500%	4/1/27	16,169		17,938
Omega Healthcare Investors Inc.	4.750%	1/15/28	15,321		17,230
Omega Healthcare Investors Inc.	3.625%	10/1/29	6,584		6,924
Physicians Realty LP	4.300%	3/15/27	8,523		9,347
Physicians Realty LP	3.950%	1/15/28	4,950		5,387
Prologis LP	3.750%	11/1/25	15,461		17,062
Prologis LP	3.250%	10/1/26	6,474		7,043
Prologis LP	3.875%	9/15/28	7,938		9,042
Prologis LP	4.375%	2/1/29	1,769		2,108
Public Storage	3.094%	9/15/27	13,345		14,335
Public Storage	3.385%	5/1/29	7,400		8,219
Realty Income Corp.	3.875%	4/15/25	10,655		11,635
Realty Income Corp.	4.125%	10/15/26	12,877		14,689
Realty Income Corp.	3.000%	1/15/27	18,944		20,132
Realty Income Corp.	3.650%	1/15/28	9,269		10,181
Realty Income Corp.	3.250%	6/15/29	11,125		12,314
Regency Centers LP	3.600%	2/1/27	7,112		7,729
Regency Centers LP	4.125%	3/15/28	7,225		8,177
Regency Centers LP	2.950%	9/15/29	7,495		7,885
Sabra Health Care LP	5.125%	8/15/26	11,851		13,198
Sabra Health Care LP	3.900%	10/15/29	3,750		3,978
Service Properties Trust	4.500%	3/15/25	3,575		3,710
Service Properties Trust	5.250%	2/15/26	5,742		6,134
Service Properties Trust	4.750%	10/1/26	5,500		5,905
Service Properties Trust	4.950%	2/15/27	8,950		9,654
Service Properties Trust	3.950%	1/15/28	8,390		8,597
Service Properties Trust	4.950%	10/1/29	8,476		8,887
Service Properties Trust	4.375%	2/15/30	7,750		7,830
Simon Property Group LP	3.375%	10/1/24	1		1
Simon Property Group LP	3.500%	9/1/25	14,513		15,730
Simon Property Group LP	3.300%	1/15/26	16,410		17,683
Simon Property Group LP	3.250%	11/30/26	13,018		14,113
Simon Property Group LP	3.375%	6/15/27	12,426		13,502
Simon Property Group LP	3.375%	12/1/27	10,398		11,327
Simon Property Group LP	2.450%	9/13/29	16,893		17,218
SITE Centers Corp.	3.900%	8/15/24	1,830		1,939
SITE Centers Corp.	4.250%	2/1/26	5,117		5,616
SITE Centers Corp.	4.700%	6/1/27	10,967		12,334
Spirit Realty LP	4.450%	9/15/26	1,024		1,145
Spirit Realty LP	3.200%	1/15/27	6,920		7,183
Spirit Realty LP	4.000%	7/15/29	6,250		6,800
Spirit Realty LP	3.400%	1/15/30	6,153		6,522
STORE Capital Corp.	4.500%	3/15/28	5,470		6,210
STORE Capital Corp.	4.625%	3/15/29	6,750		7,791
Tanger Properties LP	3.750%	12/1/24	1,100		1,155
Tanger Properties LP	3.125%	9/1/26	6,399		6,550
Tanger Properties LP	3.875%	7/15/27	4,045		4,275

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	UDR Inc.	4.000%	10/1/25	5,030		5,596
	UDR Inc.	2.950%	9/1/26	6,740		7,109
	UDR Inc.	3.500%	7/1/27	4,894		5,313
	UDR Inc.	3.500%	1/15/28	5,050		5,440
	UDR Inc.	4.400%	1/26/29	3,922		4,579
	UDR Inc.	3.200%	1/15/30	6,440		6,898
	Ventas Realty LP	3.500%	2/1/25	750		804
	Ventas Realty LP	4.125%	1/15/26	6,831		7,581
	Ventas Realty LP	3.250%	10/15/26	9,995		10,673
	Ventas Realty LP	3.850%	4/1/27	3,946		4,333
	Ventas Realty LP	4.000%	3/1/28	12,215		13,656
	Ventas Realty LP	4.400%	1/15/29	12,575		14,415
	Ventas Realty LP	3.000%	1/15/30	8,165		8,488
	VEREIT Operating Partnership LP	4.625%	11/1/25	7,717		8,646
	VEREIT Operating Partnership LP	4.875%	6/1/26	10,681		12,238
	VEREIT Operating Partnership LP	3.950%	8/15/27	7,781		8,528
	VEREIT Operating Partnership LP	3.100%	12/15/29	10,031		10,412
	Welltower Inc.	4.000%	6/1/25	16,284		17,903
	Welltower Inc.	4.250%	4/1/26	14,837		16,631
	Welltower Inc.	2.700%	2/15/27	8,750		9,037
	Welltower Inc.	4.250%	4/15/28	16,154		18,380
	Welltower Inc.	4.125%	3/15/29	13,196		15,069
	Welltower Inc.	3.100%	1/15/30	12,370		13,168
	WP Carey Inc.	4.250%	10/1/26	3,005		3,270
	WP Carey Inc.	3.850%	7/15/29	9,388		10,458
						11,460,346
Industrial (57.1%)
	Basic Industry (2.9%)
2	Albemarle Wodgina Pty Ltd.	3.450%	11/15/29	5,025		5,355
	ArcelorMittal	6.125%	6/1/25	11,263		12,990
	ArcelorMittal	4.550%	3/11/26	12,710		13,761
	ArcelorMittal	4.250%	7/16/29	12,889		13,397
	BHP Billiton Finance USA Ltd.	6.420%	3/1/26	1,476		1,842
	Cabot Corp.	4.000%	7/1/29	6,075		6,658
	Celulosa Arauco y Constitucion SA	3.875%	11/2/27	13,150		13,553
	Dow Chemical Co.	4.550%	11/30/25	16,798		19,045
	Dow Chemical Co.	3.625%	5/15/26	13,816		15,033
	Dow Chemical Co.	4.800%	11/30/28	16,229		19,126
	Dow Chemical Co.	7.375%	11/1/29	7,814		10,750
	DuPont de Nemours Inc.	4.493%	11/15/25	34,126		38,354
	DuPont de Nemours Inc.	4.725%	11/15/28	47,130		55,490
	Eastman Chemical Co.	3.800%	3/15/25	11,140		12,093
	Eastman Chemical Co.	4.500%	12/1/28	9,779		11,327
	Ecolab Inc.	2.700%	11/1/26	12,744		13,525
	Ecolab Inc.	3.250%	12/1/27	9,959		10,880
	Fibria Overseas Finance Ltd.	5.500%	1/17/27	12,023		13,075
	FMC Corp.	3.200%	10/1/26	9,142		9,732
	FMC Corp.	3.450%	10/1/29	9,030		9,731
	Georgia-Pacific LLC	7.375%	12/1/25	1,427		1,829
	Georgia-Pacific LLC	7.750%	11/15/29	2,722		4,015
	Huntsman International LLC	4.500%	5/1/29	14,594		16,005
	International Flavors & Fragrances Inc.	4.450%	9/26/28	4,287		4,868
	International Paper Co.	3.800%	1/15/26	13,576		15,001
	International Paper Co.	3.000%	2/15/27	13,780		14,699
	Kinross Gold Corp.	4.500%	7/15/27	8,073		8,759
	LYB International Finance II BV	3.500%	3/2/27	16,330		17,488
	Methanex Corp.	5.250%	12/15/29	7,460		7,860
	Mosaic Co.	4.050%	11/15/27	13,885		14,664
	Newmont Corp.	2.800%	10/1/29	17,119		17,765
	Nucor Corp.	3.950%	5/1/28	8,836		9,845
	Nutrien Ltd.	3.375%	3/15/25	9,053		9,597
	Nutrien Ltd.	3.000%	4/1/25	7,675		8,080
	Nutrien Ltd.	4.000%	12/15/26	6,920		7,679

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Nutrien Ltd.	4.200%	4/1/29	7,500		8,542
	Packaging Corp. of America	3.400%	12/15/27	9,199		10,014
	Packaging Corp. of America	3.000%	12/15/29	11,947		12,484
	Potash Corp. of Saskatchewan Inc.	3.625%	3/15/24	100		105
	PPG Industries Inc.	3.750%	3/15/28	5,100		5,733
	PPG Industries Inc.	2.800%	8/15/29	5,570		5,790
	Praxair Inc.	3.200%	1/30/26	6,845		7,375
	Rio Tinto Finance USA Ltd.	3.750%	6/15/25	23,099		25,573
	Rio Tinto Finance USA Ltd.	7.125%	7/15/28	10,080		13,919
	Rohm & Haas Co.	7.850%	7/15/29	15,809		21,665
	RPM International Inc.	3.750%	3/15/27	7,552		8,147
	RPM International Inc.	4.550%	3/1/29	6,150		6,986
	SASOL Financing USA LLC	6.500%	9/27/28	12,050		13,195
	Sherwin-Williams Co.	3.450%	8/1/25	6,652		7,164
	Sherwin-Williams Co.	3.950%	1/15/26	5,620		6,206
	Sherwin-Williams Co.	3.450%	6/1/27	21,153		23,061
	Sherwin-Williams Co.	2.950%	8/15/29	29,255		30,784
	Southern Copper Corp.	3.875%	4/23/25	8,096		8,659
	Steel Dynamics Inc.	4.125%	9/15/25	5,800		5,930
	Steel Dynamics Inc.	3.450%	4/15/30	3,500		3,684
	Suzano Austria GmbH	6.000%	1/15/29	34,400		38,616
	Suzano Austria GmbH	5.000%	1/15/30	15,200		15,831
	Vale Overseas Ltd.	6.250%	8/10/26	30,543		35,812
	Westlake Chemical Corp.	3.600%	8/15/26	17,051		18,218
	Westrock MWV LLC	8.200%	1/15/30	650		921
	Weyerhaeuser Co.	6.950%	10/1/27	3,004		3,916
	Weyerhaeuser Co.	4.000%	11/15/29	12,803		14,503
	WRKCo Inc.	3.750%	3/15/25	11,285		12,125
	WRKCo Inc.	4.650%	3/15/26	16,656		19,054
	WRKCo Inc.	3.375%	9/15/27	9,813		10,470
	WRKCo Inc.	4.000%	3/15/28	9,300		10,303
	WRKCo Inc.	3.900%	6/1/28	13,171		14,524
	WRKCo Inc.	4.900%	3/15/29	21,401		25,194
	Yamana Gold Inc.	4.625%	12/15/27	1,700		1,856
	Capital Goods (5.2%)
	3M Co.	3.000%	8/7/25	11,839		12,714
	3M Co.	2.250%	9/19/26	2,825		2,901
	3M Co.	2.875%	10/15/27	11,227		11,895
	3M Co.	3.625%	9/14/28	13,234		14,768
	3M Co.	3.375%	3/1/29	16,075		17,672
	3M Co.	2.375%	8/26/29	19,325		19,791
	ABB Finance USA Inc.	3.800%	4/3/28	10,405		11,789
	Allegion plc	3.500%	10/1/29	7,175		7,666
	Allegion US Holding Co. Inc.	3.550%	10/1/27	6,700		7,358
	Avery Dennison Corp.	4.875%	12/6/28	8,875		10,542
2	Bemis Co. Inc.	3.100%	9/15/26	6,673		6,849
	Boeing Co.	2.600%	10/30/25	3,409		3,512
	Boeing Co.	3.100%	5/1/26	13,810		14,631
	Boeing Co.	2.250%	6/15/26	8,114		8,203
	Boeing Co.	2.700%	2/1/27	3,755		3,860
	Boeing Co.	2.800%	3/1/27	9,863		10,191
	Boeing Co.	3.250%	3/1/28	11,488		12,413
	Boeing Co.	3.450%	11/1/28	5,593		6,083
	Boeing Co.	3.200%	3/1/29	16,661		17,813
	Boeing Co.	2.950%	2/1/30	3,965		4,159
	Carlisle Cos. Inc.	3.750%	12/1/27	7,747		8,482
2	Carrier Global Corp.	2.493%	2/15/27	13,305		13,543
2	Carrier Global Corp.	2.722%	2/15/30	18,815		19,076
	Caterpillar Financial Services Corp.	2.400%	8/9/26	9,185		9,581
	Caterpillar Inc.	2.600%	9/19/29	6,834		7,125
	CNH Industrial NV	3.850%	11/15/27	10,549		11,200
	Deere & Co.	5.375%	10/16/29	1,469		1,887
	Dover Corp.	3.150%	11/15/25	9,310		9,998

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Dover Corp.	2.950%	11/4/29	4,382		4,629
	Eagle Materials Inc.	4.500%	8/1/26	5,419		5,555
	Eaton Corp.	3.103%	9/15/27	10,435		11,257
	Embraer Netherlands Finance BV	5.050%	6/15/25	17,179		18,750
	Embraer Netherlands Finance BV	5.400%	2/1/27	14,460		16,411
	Emerson Electric Co.	3.150%	6/1/25	5,305		5,688
	Fortive Corp.	3.150%	6/15/26	6,388		6,745
	Fortune Brands Home & Security Inc.	4.000%	6/15/25	11,100		12,225
	Fortune Brands Home & Security Inc.	3.250%	9/15/29	6,860		7,182
	General Dynamics Corp.	3.500%	5/15/25	14,016		15,368
	General Dynamics Corp.	2.125%	8/15/26	6,938		7,131
	General Dynamics Corp.	2.625%	11/15/27	7,824		8,310
	General Dynamics Corp.	3.750%	5/15/28	24,969		28,315
	General Electric Co.	5.550%	1/5/26	7,725		9,203
	Hexcel Corp.	4.700%	8/15/25	2,250		2,494
	Hexcel Corp.	3.950%	2/15/27	10,167		11,051
	Honeywell International Inc.	2.500%	11/1/26	26,919		28,408
	Honeywell International Inc.	2.700%	8/15/29	14,193		15,183
	Hubbell Inc.	3.350%	3/1/26	4,079		4,308
	Hubbell Inc.	3.150%	8/15/27	5,578		5,899
	Hubbell Inc.	3.500%	2/15/28	8,599		9,253
	Huntington Ingalls Industries Inc.	3.483%	12/1/27	10,140		10,926
	Illinois Tool Works Inc.	2.650%	11/15/26	23,564		25,136
	Ingersoll-Rand Global Holding Co. Ltd.	3.750%	8/21/28	7,355		8,187
	Ingersoll-Rand Luxembourg Finance SA	3.500%	3/21/26	3,796		4,106
	Ingersoll-Rand Luxembourg Finance SA	3.800%	3/21/29	15,275		17,073
	John Deere Capital Corp.	3.450%	3/13/25	11,043		12,028
	John Deere Capital Corp.	3.400%	9/11/25	6,375		7,056
	John Deere Capital Corp.	2.650%	6/10/26	12,007		12,759
	John Deere Capital Corp.	2.250%	9/14/26	10,425		10,819
	John Deere Capital Corp.	2.800%	9/8/27	15,172		16,375
	John Deere Capital Corp.	3.050%	1/6/28	11,140		12,194
	John Deere Capital Corp.	3.450%	3/7/29	150		169
	John Deere Capital Corp.	2.800%	7/18/29	17,327		18,584
	John Deere Capital Corp.	2.450%	1/9/30	16,011		16,604
	Johnson Controls International plc	3.900%	2/14/26	7,716		8,473
	Kennametal Inc.	4.625%	6/15/28	5,188		5,728
	L3Harris Technologies Inc.	3.832%	4/27/25	12,221		13,368
2	L3Harris Technologies Inc.	3.850%	12/15/26	7,883		8,711
	L3Harris Technologies Inc.	4.400%	6/15/28	14,271		16,676
2	L3Harris Technologies Inc.	4.400%	6/15/28	18,761		21,736
	L3Harris Technologies Inc.	2.900%	12/15/29	8,423		8,944
	Leggett & Platt Inc.	3.500%	11/15/27	8,272		8,978
	Leggett & Platt Inc.	4.400%	3/15/29	10,640		11,983
	Lockheed Martin Corp.	2.900%	3/1/25	13,354		14,187
	Lockheed Martin Corp.	3.550%	1/15/26	42,358		46,968
	Martin Marietta Materials Inc.	3.450%	6/1/27	4,873		5,238
	Martin Marietta Materials Inc.	3.500%	12/15/27	8,097		8,780
	Masco Corp.	4.450%	4/1/25	6,976		7,769
	Masco Corp.	4.375%	4/1/26	9,390		10,469
	Masco Corp.	3.500%	11/15/27	4,560		4,885
	Northrop Grumman Corp.	3.200%	2/1/27	17,445		18,783
	Northrop Grumman Corp.	3.250%	1/15/28	42,599		46,158
	Nvent Finance Sarl	4.550%	4/15/28	8,397		9,141
	Oshkosh Corp.	4.600%	5/15/28	3,750		4,209
	Oshkosh Corp.	3.100%	3/1/30	2,000		2,060
2	Otis Worldwide Corp.	2.056%	4/5/25	13,000		13,210
2	Otis Worldwide Corp.	2.293%	4/5/27	6,800		6,948
2	Otis Worldwide Corp.	2.565%	2/15/30	18,375		18,894
	Owens Corning	3.400%	8/15/26	6,820		7,122
	Owens Corning	3.950%	8/15/29	8,140		9,028
	Parker-Hannifin Corp.	3.250%	3/1/27	17,170		18,542
	Parker-Hannifin Corp.	3.250%	6/14/29	21,353		22,900
	Pentair Finance Sarl	4.500%	7/1/29	720		810

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Precision Castparts Corp.	3.250%	6/15/25	16,314		17,727
	Raytheon Co.	7.200%	8/15/27	2,305		3,101
	Republic Services Inc.	3.200%	3/15/25	7,879		8,453
	Republic Services Inc.	2.900%	7/1/26	13,083		13,897
	Republic Services Inc.	3.375%	11/15/27	14,818		16,168
	Republic Services Inc.	3.950%	5/15/28	3,770		4,283
	Republic Services Inc.	2.300%	3/1/30	9,625		9,661
	Rockwell Automation Inc.	2.875%	3/1/25	3,502		3,711
	Rockwell Automation Inc.	3.500%	3/1/29	7,231		8,173
	Rockwell Collins Inc.	3.500%	3/15/27	23,501		26,143
	Roper Technologies Inc.	3.850%	12/15/25	5,390		5,954
	Roper Technologies Inc.	3.800%	12/15/26	13,231		14,601
	Roper Technologies Inc.	4.200%	9/15/28	17,692		20,341
	Roper Technologies Inc.	2.950%	9/15/29	7,725		8,232
	Snap-on Inc.	3.250%	3/1/27	4,165		4,487
	Stanley Black & Decker Inc.	3.400%	3/1/26	12,329		13,400
	Stanley Black & Decker Inc.	4.250%	11/15/28	9,663		11,311
	Stanley Black & Decker Inc.	2.300%	3/15/30	11,000		11,147
1	Stanley Black & Decker Inc.	4.000%	3/15/60	5,000		5,002
	Textron Inc.	3.875%	3/1/25	4,579		4,961
	Textron Inc.	4.000%	3/15/26	8,475		9,261
	Textron Inc.	3.650%	3/15/27	6,358		6,810
	Textron Inc.	3.375%	3/1/28	5,193		5,505
	Textron Inc.	3.900%	9/17/29	6,326		7,011
	Timken Co.	4.500%	12/15/28	6,666		7,469
	United Technologies Corp.	3.950%	8/16/25	39,179		43,843
	United Technologies Corp.	3.125%	5/4/27	25,003		26,920
	United Technologies Corp.	6.700%	8/1/28	3,425		4,615
	United Technologies Corp.	4.125%	11/16/28	63,698		74,501
	United Technologies Corp.	7.500%	9/15/29	5,953		8,687
	Vulcan Materials Co.	4.500%	4/1/25	5,032		5,634
	Vulcan Materials Co.	3.900%	4/1/27	7,959		8,767
	Wabtec Corp.	3.450%	11/15/26	12,267		12,735
	Wabtec Corp.	4.950%	9/15/28	22,662		25,994
	Waste Connections Inc.	4.250%	12/1/28	4,590		5,292
	Waste Connections Inc.	3.500%	5/1/29	12,625		13,829
	Waste Connections Inc.	2.600%	2/1/30	11,219		11,524
	Waste Management Inc.	3.125%	3/1/25	8,155		8,720
	Waste Management Inc.	3.200%	6/15/26	22,895		24,787
	Waste Management Inc.	3.150%	11/15/27	6,462		6,942
	Waste Management Inc.	3.450%	6/15/29	20,093		22,195
	Xylem Inc.	3.250%	11/1/26	8,976		9,686
	Communication (7.0%)
	Activision Blizzard Inc.	3.400%	9/15/26	14,044		15,217
	Activision Blizzard Inc.	3.400%	6/15/27	7,099		7,661
	America Movil SAB de CV	3.625%	4/22/29	17,955		19,900
	American Tower Corp.	2.400%	3/15/25	250		257
	American Tower Corp.	4.000%	6/1/25	16,003		17,623
	American Tower Corp.	4.400%	2/15/26	4,331		4,879
	American Tower Corp.	3.375%	10/15/26	21,253		22,842
	American Tower Corp.	2.750%	1/15/27	5,541		5,729
	American Tower Corp.	3.125%	1/15/27	14,609		15,408
	American Tower Corp.	3.550%	7/15/27	20,228		21,940
	American Tower Corp.	3.600%	1/15/28	10,590		11,426
	American Tower Corp.	3.950%	3/15/29	16,070		17,828
	American Tower Corp.	3.800%	8/15/29	19,318		21,257
	American Tower Corp.	2.900%	1/15/30	21,596		22,369
	AT&T Inc.	3.400%	5/15/25	75,468		80,428
	AT&T Inc.	3.600%	7/15/25	31,434		33,978
	AT&T Inc.	3.875%	1/15/26	23,924		26,221
	AT&T Inc.	4.125%	2/17/26	46,597		51,795
	AT&T Inc.	2.950%	7/15/26	16,069		16,872
	AT&T Inc.	3.800%	2/15/27	17,634		19,255

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	AT&T Inc.	4.250%	3/1/27	24,208		27,059
	AT&T Inc.	4.100%	2/15/28	41,891		46,865
	AT&T Inc.	4.350%	3/1/29	53,535		61,010
	AT&T Inc.	4.300%	2/15/30	48,378		55,206
	British Telecommunications plc	5.125%	12/4/28	9,634		11,480
	Charter Communications Operating LLC / Charter Communications Operating Capital	4.908%	7/23/25	63,430		71,051
	Charter Communications Operating LLC / Charter Communications Operating Capital	3.750%	2/15/28	29,673		31,377
	Charter Communications Operating LLC / Charter Communications Operating Capital	4.200%	3/15/28	17,511		19,082
	Charter Communications Operating LLC / Charter Communications Operating Capital	5.050%	3/30/29	26,389		30,526
	Comcast Corp.	3.375%	2/15/25	570		616
	Comcast Corp.	3.375%	8/15/25	41,418		44,951
	Comcast Corp.	3.950%	10/15/25	58,579		65,583
	Comcast Corp.	3.150%	3/1/26	13,276		14,280
	Comcast Corp.	2.350%	1/15/27	21,505		22,214
	Comcast Corp.	3.300%	2/1/27	32,829		35,664
	Comcast Corp.	3.150%	2/15/28	38,523		41,777
	Comcast Corp.	3.550%	5/1/28	13,725		15,233
	Comcast Corp.	4.150%	10/15/28	61,592		71,405
	Comcast Corp.	2.650%	2/1/30	25,963		27,183
	Crown Castle International Corp.	4.450%	2/15/26	18,687		21,019
	Crown Castle International Corp.	3.700%	6/15/26	15,200		16,523
	Crown Castle International Corp.	4.000%	3/1/27	12,938		14,468
	Crown Castle International Corp.	3.650%	9/1/27	16,065		17,566
	Crown Castle International Corp.	3.800%	2/15/28	26,261		28,672
	Crown Castle International Corp.	4.300%	2/15/29	8,528		9,825
	Crown Castle International Corp.	3.100%	11/15/29	1,660		1,747
	Discovery Communications LLC	3.450%	3/15/25	5,496		5,891
	Discovery Communications LLC	3.950%	6/15/25	10,269		11,207
	Discovery Communications LLC	4.900%	3/11/26	13,449		15,371
	Discovery Communications LLC	3.950%	3/20/28	32,205		34,861
	Discovery Communications LLC	4.125%	5/15/29	13,696		15,101
	Electronic Arts Inc.	4.800%	3/1/26	9,950		11,569
2	Fox Corp.	4.709%	1/25/29	37,003		43,420
	Grupo Televisa SAB	6.625%	3/18/25	6,700		8,069
	Grupo Televisa SAB	4.625%	1/30/26	5,715		6,332
	Interpublic Group of Cos. Inc.	4.650%	10/1/28	9,767		11,456
	Moody's Corp.	3.250%	1/15/28	8,095		8,727
	Moody's Corp.	4.250%	2/1/29	4,371		5,155
	Omnicom Group Inc.	2.450%	4/30/30	3,500		3,526
	Omnicom Group Inc. / Omnicom Capital Inc.	3.600%	4/15/26	25,309		27,779
	RELX Capital Inc.	4.000%	3/18/29	16,210		18,520
	Rogers Communications Inc.	3.625%	12/15/25	10,462		11,466
	Rogers Communications Inc.	2.900%	11/15/26	1,927		2,026
	S&P Global Inc.	4.000%	6/15/25	8,642		9,627
	S&P Global Inc.	4.400%	2/15/26	17,642		20,231
	S&P Global Inc.	2.950%	1/22/27	7,616		8,106
	S&P Global Inc.	2.500%	12/1/29	12,750		13,312
	TCI Communications Inc.	7.875%	2/15/26	5,566		7,382
	TCI Communications Inc.	7.125%	2/15/28	5,610		7,596
	Telefonica Emisiones SAU	4.103%	3/8/27	37,046		41,103
	TELUS Corp.	2.800%	2/16/27	9,935		10,431
	TELUS Corp.	3.700%	9/15/27	2,255		2,509
	Thomson Reuters Corp.	3.350%	5/15/26	11,150		11,846
	TWDC Enterprises 18 Corp.	2.950%	6/15/27	1,130		1,231
	Verizon Communications Inc.	3.376%	2/15/25	4,980		5,379
	Verizon Communications Inc.	2.625%	8/15/26	44,087		46,258
	Verizon Communications Inc.	4.125%	3/16/27	59,298		67,439
	Verizon Communications Inc.	4.329%	9/21/28	86,865		102,049
	Verizon Communications Inc.	3.875%	2/8/29	1,800		2,061
	Verizon Communications Inc.	4.016%	12/3/29	73,833		85,883

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	ViacomCBS Inc.	4.000%	1/15/26	6,957	7,667
	ViacomCBS Inc.	2.900%	1/15/27	12,330	12,733
	ViacomCBS Inc.	3.375%	2/15/28	10,729	11,422
	ViacomCBS Inc.	3.700%	6/1/28	18,151	19,772
	ViacomCBS Inc.	4.200%	6/1/29	2,265	2,563
	Vodafone Group plc	4.125%	5/30/25	31,643	35,107
	Vodafone Group plc	4.375%	5/30/28	50,153	57,631
	Vodafone Group plc	7.875%	2/15/30	8,253	11,826
	Walt Disney Co.	3.150%	9/17/25	23,168	25,221
	Walt Disney Co.	3.700%	10/15/25	13,142	14,605
	Walt Disney Co.	3.000%	2/13/26	19,084	20,725
	Walt Disney Co.	1.850%	7/30/26	25,168	25,601
	Walt Disney Co.	3.375%	11/15/26	15,780	17,386
	Walt Disney Co.	2.000%	9/1/29	32,829	33,110
	WPP Finance 2010	3.750%	9/19/24	1	1
	Consumer Cyclical (7.0%)
	Alibaba Group Holding Ltd.	3.400%	12/6/27	43,560	46,882
	Amazon.com Inc.	5.200%	12/3/25	18,601	22,194
	Amazon.com Inc.	3.150%	8/22/27	56,856	62,121
	American Honda Finance Corp.	2.300%	9/9/26	4,338	4,485
	American Honda Finance Corp.	2.350%	1/8/27	10,875	11,115
	American Honda Finance Corp.	3.500%	2/15/28	16,595	18,341
	Aptiv plc	4.250%	1/15/26	9,365	10,315
	Aptiv plc	4.350%	3/15/29	5,955	6,743
	Automatic Data Processing Inc.	3.375%	9/15/25	19,375	21,328
	AutoNation Inc.	4.500%	10/1/25	9,027	9,977
	AutoNation Inc.	3.800%	11/15/27	3,804	4,012
	AutoZone Inc.	3.250%	4/15/25	6,521	6,980
	AutoZone Inc.	3.125%	4/21/26	7,153	7,582
	AutoZone Inc.	3.750%	6/1/27	12,004	13,197
	AutoZone Inc.	3.750%	4/18/29	11,258	12,604
	Best Buy Co. Inc.	4.450%	10/1/28	8,714	9,915
	Block Financial LLC	5.250%	10/1/25	5,657	6,441
	Booking Holdings Inc.	3.650%	3/15/25	8,223	8,929
	Booking Holdings Inc.	3.600%	6/1/26	18,353	20,047
	Booking Holdings Inc.	3.550%	3/15/28	12,311	13,437
	BorgWarner Inc.	3.375%	3/15/25	8,013	8,433
	Choice Hotels International Inc.	3.700%	12/1/29	971	1,037
	Costco Wholesale Corp.	3.000%	5/18/27	18,798	20,481
	Darden Restaurants Inc.	3.850%	5/1/27	7,956	8,591
	Dollar General Corp.	4.150%	11/1/25	9,214	10,258
	Dollar General Corp.	3.875%	4/15/27	11,411	12,636
	Dollar General Corp.	4.125%	5/1/28	9,497	10,846
	Dollar Tree Inc.	4.000%	5/15/25	16,320	17,867
	Dollar Tree Inc.	4.200%	5/15/28	22,823	25,495
	eBay Inc.	3.600%	6/5/27	13,166	14,129
	Expedia Group Inc.	5.000%	2/15/26	12,483	14,062
	Expedia Group Inc.	3.800%	2/15/28	14,959	15,372
2	Expedia Group Inc.	3.250%	2/15/30	6,800	6,636
	Ford Motor Co.	4.346%	12/8/26	17,953	18,043
	Ford Motor Co.	6.625%	10/1/28	11,067	12,570
	Ford Motor Credit Co. LLC	4.687%	6/9/25	13,540	13,918
	Ford Motor Credit Co. LLC	4.134%	8/4/25	26,622	26,698
	Ford Motor Credit Co. LLC	4.389%	1/8/26	24,979	25,087
	Ford Motor Credit Co. LLC	4.542%	8/1/26	8,800	8,920
	Ford Motor Credit Co. LLC	4.271%	1/9/27	25,500	25,156
	Ford Motor Credit Co. LLC	3.815%	11/2/27	12,792	12,169
	Ford Motor Credit Co. LLC	5.113%	5/3/29	21,670	21,714
	General Motors Co.	4.000%	4/1/25	7,316	7,717
	General Motors Co.	4.200%	10/1/27	16,905	17,828
	General Motors Co.	5.000%	10/1/28	11,135	12,178
	General Motors Financial Co. Inc.	2.900%	2/26/25	10,600	10,640
	General Motors Financial Co. Inc.	4.350%	4/9/25	14,962	15,957

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
General Motors Financial Co. Inc.	4.300%	7/13/25	16,575	17,608
General Motors Financial Co. Inc.	5.250%	3/1/26	23,445	26,083
General Motors Financial Co. Inc.	4.000%	10/6/26	18,580	19,487
General Motors Financial Co. Inc.	4.350%	1/17/27	24,856	26,428
General Motors Financial Co. Inc.	3.850%	1/5/28	9,651	9,918
General Motors Financial Co. Inc.	5.650%	1/17/29	17,701	20,066
GLP Capital LP / GLP Financing II Inc.	5.250%	6/1/25	13,727	15,396
GLP Capital LP / GLP Financing II Inc.	5.375%	4/15/26	17,511	19,803
GLP Capital LP / GLP Financing II Inc.	5.750%	6/1/28	9,459	11,113
GLP Capital LP / GLP Financing II Inc.	5.300%	1/15/29	21,130	24,933
GLP Capital LP / GLP Financing II Inc.	4.000%	1/15/30	4,799	5,119
Harley-Davidson Inc.	3.500%	7/28/25	9,348	9,959
Harman International Industries Inc.	4.150%	5/15/25	6,145	6,696
Home Depot Inc.	3.350%	9/15/25	20,952	22,890
Home Depot Inc.	3.000%	4/1/26	21,571	23,270
Home Depot Inc.	2.125%	9/15/26	20,310	21,007
Home Depot Inc.	2.800%	9/14/27	21,373	22,809
Home Depot Inc.	3.900%	12/6/28	14,753	17,047
Home Depot Inc.	2.950%	6/15/29	32,006	34,557
Hyatt Hotels Corp.	4.850%	3/15/26	7,482	8,583
Hyatt Hotels Corp.	4.375%	9/15/28	6,785	7,590
IHS Markit Ltd.	4.750%	8/1/28	13,778	16,051
IHS Markit Ltd.	4.250%	5/1/29	16,238	18,308
JD.com Inc.	3.875%	4/29/26	8,025	8,733
JD.com Inc.	3.375%	1/14/30	13,200	13,741
Kohl's Corp.	4.250%	7/17/25	11,153	12,054
Las Vegas Sands Corp.	2.900%	6/25/25	11,880	12,174
Las Vegas Sands Corp.	3.500%	8/18/26	14,210	15,015
Las Vegas Sands Corp.	3.900%	8/8/29	13,835	14,620
Lear Corp.	3.800%	9/15/27	11,533	12,106
Lear Corp.	4.250%	5/15/29	7,070	7,566
Lear Corp.	3.500%	5/30/30	4,000	3,994
Lowe's Cos. Inc.	3.375%	9/15/25	21,860	23,739
Lowe's Cos. Inc.	2.500%	4/15/26	28,650	29,677
Lowe's Cos. Inc.	3.100%	5/3/27	11,054	11,737
Lowe's Cos. Inc.	3.650%	4/5/29	30,898	34,235
Magna International Inc.	4.150%	10/1/25	7,337	8,150
Marriott International Inc.	3.750%	3/15/25	9,442	10,290
Marriott International Inc.	3.750%	10/1/25	4,400	4,734
Marriott International Inc.	3.125%	6/15/26	12,194	12,799
Marriott International Inc.	4.000%	4/15/28	10,845	12,032
Marriott International Inc.	4.650%	12/1/28	1,253	1,440
Mastercard Inc.	2.000%	3/3/25	12,525	12,853
Mastercard Inc.	2.950%	11/21/26	15,805	17,047
Mastercard Inc.	3.500%	2/26/28	8,352	9,308
Mastercard Inc.	2.950%	6/1/29	19,135	20,756
McDonald's Corp.	3.375%	5/26/25	7,335	7,919
McDonald's Corp.	3.700%	1/30/26	32,858	36,309
McDonald's Corp.	3.500%	3/1/27	18,647	20,391
McDonald's Corp.	3.800%	4/1/28	18,817	21,002
McDonald's Corp.	2.625%	9/1/29	20,746	21,503
NIKE Inc.	2.375%	11/1/26	7,602	7,988
Nordstrom Inc.	4.000%	3/15/27	7,880	8,352
Nordstrom Inc.	6.950%	3/15/28	2,920	3,486
Nordstrom Inc.	4.375%	4/1/30	1,000	1,053
O'Reilly Automotive Inc.	3.550%	3/15/26	9,395	10,231
O'Reilly Automotive Inc.	3.600%	9/1/27	14,599	16,137
O'Reilly Automotive Inc.	4.350%	6/1/28	14,444	16,633
O'Reilly Automotive Inc.	3.900%	6/1/29	5,866	6,664
QVC Inc.	4.750%	2/15/27	9,825	9,678
Ralph Lauren Corp.	3.750%	9/15/25	6,975	7,698
Royal Caribbean Cruises Ltd.	7.500%	10/15/27	2,177	2,754
Royal Caribbean Cruises Ltd.	3.700%	3/15/28	12,160	12,449

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Sands China Ltd.	5.125%	8/8/25	29,675	33,397
	Sands China Ltd.	5.400%	8/8/28	33,940	38,430
	Starbucks Corp.	3.800%	8/15/25	17,051	18,780
	Starbucks Corp.	2.450%	6/15/26	10,094	10,508
	Starbucks Corp.	3.500%	3/1/28	10,197	11,295
	Starbucks Corp.	4.000%	11/15/28	12,700	14,582
	Starbucks Corp.	3.550%	8/15/29	18,665	21,004
	Tapestry Inc.	4.250%	4/1/25	8,569	9,064
	Tapestry Inc.	4.125%	7/15/27	11,810	12,465
	Target Corp.	2.500%	4/15/26	14,255	15,061
	Target Corp.	3.375%	4/15/29	12,378	13,761
	Target Corp.	2.350%	2/15/30	9,000	9,273
	TJX Cos. Inc.	2.250%	9/15/26	22,490	23,274
	Toyota Motor Corp.	3.669%	7/20/28	9,855	11,255
	Toyota Motor Corp.	2.760%	7/2/29	10,100	10,809
	Toyota Motor Credit Corp.	3.400%	4/14/25	8,940	9,680
	Toyota Motor Credit Corp.	3.200%	1/11/27	10,315	11,151
	Toyota Motor Credit Corp.	3.050%	1/11/28	8,810	9,520
	Toyota Motor Credit Corp.	3.650%	1/8/29	7,780	8,892
	Toyota Motor Credit Corp.	2.150%	2/13/30	15,000	15,090
	Visa Inc.	3.150%	12/14/25	65,139	70,724
	Visa Inc.	2.750%	9/15/27	11,235	12,090
	Walgreens Boots Alliance Inc.	3.450%	6/1/26	39,037	41,019
	Walmart Inc.	3.550%	6/26/25	33,312	36,694
	Walmart Inc.	3.050%	7/8/26	16,751	18,237
	Walmart Inc.	5.875%	4/5/27	6,657	8,416
	Walmart Inc.	3.700%	6/26/28	51,235	58,050
	Walmart Inc.	3.250%	7/8/29	8,900	9,905
	Walmart Inc.	2.375%	9/24/29	20,825	21,746
	Walmart Inc.	7.550%	2/15/30	3,392	5,104
	Consumer Noncyclical (15.3%)
	Abbott Laboratories	2.950%	3/15/25	10,723	11,510
	Abbott Laboratories	3.875%	9/15/25	22,806	25,477
	Abbott Laboratories	3.750%	11/30/26	25,686	28,834
	AbbVie Inc.	3.600%	5/14/25	60,671	65,779
	AbbVie Inc.	3.200%	5/14/26	41,870	44,510
2	AbbVie Inc.	2.950%	11/21/26	70,386	73,766
	AbbVie Inc.	4.250%	11/14/28	23,256	26,523
2	AbbVie Inc.	3.200%	11/21/29	100,270	105,703
	Adventist Health System/West	2.952%	3/1/29	4,625	4,885
	Advocate Health & Hospitals Corp.	3.829%	8/15/28	4,125	4,732
	Agilent Technologies Inc.	3.050%	9/22/26	7,698	8,166
	Agilent Technologies Inc.	2.750%	9/15/29	6,365	6,627
	Ahold Finance USA LLC	6.875%	5/1/29	8,676	12,093
	Allergan Funding SCS	3.800%	3/15/25	47,202	51,363
	Altria Group Inc.	4.400%	2/14/26	32,632	36,532
	Altria Group Inc.	2.625%	9/16/26	17,817	18,230
	Altria Group Inc.	4.800%	2/14/29	32,421	37,015
	AmerisourceBergen Corp.	3.250%	3/1/25	7,466	8,007
	AmerisourceBergen Corp.	3.450%	12/15/27	13,444	14,500
	Amgen Inc.	3.125%	5/1/25	7,237	7,702
	Amgen Inc.	2.600%	8/19/26	29,396	31,037
	Amgen Inc.	2.200%	2/21/27	9,765	9,929
	Amgen Inc.	3.200%	11/2/27	11,683	12,816
	Amgen Inc.	2.450%	2/21/30	12,510	12,665
	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.	3.650%	2/1/26	72,946	79,610
	Anheuser-Busch InBev Finance Inc.	3.650%	2/1/26	13,314	14,534
	Anheuser-Busch InBev Worldwide Inc.	4.000%	4/13/28	56,615	63,760
	Anheuser-Busch InBev Worldwide Inc.	4.750%	1/23/29	78,384	92,677
	Archer-Daniels-Midland Co.	2.500%	8/11/26	14,647	15,260

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Ascension Health	2.532%	11/15/29	5,586	5,944
	AstraZeneca plc	3.375%	11/16/25	37,716	41,078
	AstraZeneca plc	3.125%	6/12/27	15,848	17,086
	AstraZeneca plc	4.000%	1/17/29	15,643	17,943
	BAT Capital Corp.	3.215%	9/6/26	25,550	26,756
	BAT Capital Corp.	3.557%	8/15/27	53,141	55,997
	BAT Capital Corp.	3.462%	9/6/29	10,499	10,990
	Baxalta Inc.	4.000%	6/23/25	19,813	21,872
	Baxter International Inc.	2.600%	8/15/26	18,193	19,138
	Becton Dickinson & Co.	3.700%	6/6/27	41,625	45,917
	Biogen Inc.	4.050%	9/15/25	36,857	41,351
	Boston Scientific Corp.	3.850%	5/15/25	1,116	1,222
	Boston Scientific Corp.	3.750%	3/1/26	19,697	21,744
	Boston Scientific Corp.	4.000%	3/1/29	22,336	25,638
2	Bristol-Myers Squibb Co.	3.875%	8/15/25	53,218	59,500
2	Bristol-Myers Squibb Co.	3.200%	6/15/26	43,345	47,236
	Bristol-Myers Squibb Co.	3.250%	2/27/27	4,370	4,803
2	Bristol-Myers Squibb Co.	3.450%	11/15/27	21,300	23,824
2	Bristol-Myers Squibb Co.	3.900%	2/20/28	28,778	32,766
2	Bristol-Myers Squibb Co.	3.400%	7/26/29	72,181	80,524
	Brown-Forman Corp.	3.500%	4/15/25	4,925	5,328
	Bunge Ltd. Finance Corp.	3.250%	8/15/26	13,845	14,247
	Bunge Ltd. Finance Corp.	3.750%	9/25/27	9,351	9,869
	Campbell Soup Co.	3.950%	3/15/25	11,773	12,838
	Campbell Soup Co.	3.300%	3/19/25	7,186	7,569
	Campbell Soup Co.	4.150%	3/15/28	14,940	16,642
	Cardinal Health Inc.	3.750%	9/15/25	7,120	7,762
	Cardinal Health Inc.	3.410%	6/15/27	21,755	23,225
	CHRISTUS Health	4.341%	7/1/28	5,450	6,361
	Church & Dwight Co. Inc.	3.150%	8/1/27	6,895	7,393
2	Cigna Corp.	3.250%	4/15/25	14,030	15,010
	Cigna Corp.	4.125%	11/15/25	45,075	50,690
2	Cigna Corp.	4.500%	2/25/26	14,489	16,561
2	Cigna Corp.	3.400%	3/1/27	31,888	34,635
2	Cigna Corp.	7.875%	5/15/27	836	1,106
2	Cigna Corp.	3.050%	10/15/27	5,167	5,395
	Cigna Corp.	4.375%	10/15/28	64,624	73,394
	Clorox Co.	3.100%	10/1/27	5,982	6,408
	Clorox Co.	3.900%	5/15/28	8,005	9,130
	Coca-Cola Co.	2.875%	10/27/25	27,060	29,138
	Coca-Cola Co.	2.550%	6/1/26	16,127	17,137
	Coca-Cola Co.	2.250%	9/1/26	23,307	24,344
	Coca-Cola Co.	2.900%	5/25/27	6,279	6,808
	Coca-Cola Co.	2.125%	9/6/29	11,775	11,966
	Coca-Cola Consolidated Inc.	3.800%	11/25/25	6,492	7,116
	Coca-Cola Femsa SAB de CV	2.750%	1/22/30	20,700	21,678
	CommonSpirit Health	3.347%	10/1/29	16,233	17,204
	Conagra Brands Inc.	4.600%	11/1/25	19,373	21,682
	Conagra Brands Inc.	7.000%	10/1/28	3,808	4,925
	Conagra Brands Inc.	4.850%	11/1/28	24,991	29,016
	Constellation Brands Inc.	4.400%	11/15/25	9,675	10,925
	Constellation Brands Inc.	4.750%	12/1/25	9,950	11,455
	Constellation Brands Inc.	3.700%	12/6/26	11,368	12,411
	Constellation Brands Inc.	3.500%	5/9/27	10,525	11,363
	Constellation Brands Inc.	3.600%	2/15/28	9,030	9,776
	Constellation Brands Inc.	4.650%	11/15/28	12,590	14,599
	Constellation Brands Inc.	3.150%	8/1/29	13,129	13,765
	CVS Health Corp.	4.100%	3/25/25	78,153	85,420
	CVS Health Corp.	3.875%	7/20/25	49,835	54,187
	CVS Health Corp.	2.875%	6/1/26	45,445	47,192
	CVS Health Corp.	3.000%	8/15/26	16,800	17,580
	CVS Health Corp.	6.250%	6/1/27	2,610	3,208
	CVS Health Corp.	4.300%	3/25/28	152,934	170,999

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
CVS Health Corp.	3.250%	8/15/29	42,804	44,918
Danaher Corp.	3.350%	9/15/25	9,663	10,542
Delhaize America LLC	9.000%	4/15/31	350	538
DH Europe Finance II Sarl	2.600%	11/15/29	13,216	13,728
Diageo Capital plc	3.875%	5/18/28	6,892	7,878
Diageo Capital plc	2.375%	10/24/29	13,175	13,650
Edwards Lifesciences Corp.	4.300%	6/15/28	9,712	11,220
Eli Lilly & Co.	2.750%	6/1/25	5,053	5,358
Eli Lilly & Co.	3.375%	3/15/29	26,808	29,953
Estee Lauder Cos. Inc.	3.150%	3/15/27	9,847	10,715
Estee Lauder Cos. Inc.	2.375%	12/1/29	14,799	15,265
Flowers Foods Inc.	3.500%	10/1/26	5,235	5,552
General Mills Inc.	4.000%	4/17/25	8,111	8,959
General Mills Inc.	3.200%	2/10/27	17,964	19,452
General Mills Inc.	4.200%	4/17/28	25,095	28,814
Gilead Sciences Inc.	3.500%	2/1/25	10,439	11,283
Gilead Sciences Inc.	3.650%	3/1/26	48,269	53,107
Gilead Sciences Inc.	2.950%	3/1/27	24,101	25,631
GlaxoSmithKline Capital Inc.	3.625%	5/15/25	25,934	28,771
GlaxoSmithKline Capital Inc.	3.875%	5/15/28	30,202	34,448
GlaxoSmithKline Capital plc	3.375%	6/1/29	4,651	5,148
Hasbro Inc.	3.550%	11/19/26	10,400	10,894
Hasbro Inc.	3.500%	9/15/27	7,673	7,981
Hasbro Inc.	3.900%	11/19/29	18,162	19,034
HCA Inc.	5.250%	4/15/25	19,520	22,155
HCA Inc.	5.250%	6/15/26	33,912	38,787
HCA Inc.	4.500%	2/15/27	14,962	16,514
HCA Inc.	4.125%	6/15/29	38,215	41,750
Hershey Co.	3.200%	8/21/25	6,045	6,569
Hershey Co.	2.300%	8/15/26	18,701	19,619
Hershey Co.	7.200%	8/15/27	146	200
Hershey Co.	2.450%	11/15/29	8,915	9,391
Ingredion Inc.	3.200%	10/1/26	7,582	7,955
JM Smucker Co.	3.500%	3/15/25	12,849	13,882
JM Smucker Co.	3.375%	12/15/27	9,239	9,942
Johnson & Johnson	2.450%	3/1/26	38,882	40,831
Johnson & Johnson	2.950%	3/3/27	29,238	31,818
Johnson & Johnson	2.900%	1/15/28	20,441	22,265
Johnson & Johnson	6.950%	9/1/29	2,450	3,645
Kaiser Foundation Hospitals	3.150%	5/1/27	9,838	10,823
Kellogg Co.	3.250%	4/1/26	9,556	10,270
Kellogg Co.	3.400%	11/15/27	13,262	14,375
Kellogg Co.	4.300%	5/15/28	6,751	7,734
Keurig Dr Pepper Inc.	4.417%	5/25/25	16,552	18,557
Keurig Dr Pepper Inc.	3.400%	11/15/25	7,274	7,786
Keurig Dr Pepper Inc.	2.550%	9/15/26	7,469	7,627
Keurig Dr Pepper Inc.	3.430%	6/15/27	8,181	8,699
Keurig Dr Pepper Inc.	4.597%	5/25/28	32,725	37,747
Kimberly-Clark Corp.	3.050%	8/15/25	5,840	6,386
Kimberly-Clark Corp.	2.750%	2/15/26	4,527	4,794
Kimberly-Clark Corp.	3.950%	11/1/28	8,040	9,382
Kimberly-Clark Corp.	3.200%	4/25/29	15,413	17,424
Kraft Heinz Foods Co.	3.950%	7/15/25	12,226	12,710
Kroger Co.	3.500%	2/1/26	11,424	12,397
Kroger Co.	2.650%	10/15/26	11,768	12,186
Kroger Co.	3.700%	8/1/27	8,527	9,413
Kroger Co.	4.500%	1/15/29	6,887	8,076
Kroger Co.	7.700%	6/1/29	3,705	5,171
Laboratory Corp. of America Holdings	3.600%	9/1/27	14,620	16,146
Laboratory Corp. of America Holdings	2.950%	12/1/29	13,538	14,131
McCormick & Co. Inc.	3.400%	8/15/27	11,892	12,883
McKesson Corp.	3.950%	2/16/28	14,188	15,864
McKesson Corp.	4.750%	5/30/29	6,536	7,748

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
Mead Johnson Nutrition Co.	4.125%	11/15/25	18,214	20,457
Medtronic Global Holdings SCA	3.350%	4/1/27	2,016	2,250
Medtronic Inc.	3.500%	3/15/25	44,610	49,037
Merck & Co. Inc.	3.400%	3/7/29	40,512	45,297
Mercy Health	4.302%	7/1/28	3,970	4,633
Molson Coors Beverage Co.	3.000%	7/15/26	36,894	38,323
Mondelez International Inc.	3.625%	2/13/26	19,017	20,969
Mondelez International Inc.	4.125%	5/7/28	2,001	2,309
Mylan Inc.	4.550%	4/15/28	12,265	13,756
Mylan NV	3.950%	6/15/26	39,874	43,006
Novartis Capital Corp.	3.000%	11/20/25	30,526	33,007
Novartis Capital Corp.	2.000%	2/14/27	18,065	18,493
Novartis Capital Corp.	3.100%	5/17/27	20,296	22,188
PepsiCo Inc.	2.750%	4/30/25	18,365	19,448
PepsiCo Inc.	3.500%	7/17/25	4,195	4,606
PepsiCo Inc.	2.850%	2/24/26	22,172	23,779
PepsiCo Inc.	2.375%	10/6/26	25,222	26,359
PepsiCo Inc.	3.000%	10/15/27	28,918	31,492
PepsiCo Inc.	2.625%	7/29/29	21,316	22,821
PerkinElmer Inc.	3.300%	9/15/29	12,647	13,263
Perrigo Finance Unlimited Co.	4.375%	3/15/26	12,210	13,308
Pfizer Inc.	2.750%	6/3/26	28,603	30,616
Pfizer Inc.	3.000%	12/15/26	14,863	16,097
Pfizer Inc.	3.600%	9/15/28	11,886	13,547
Pfizer Inc.	3.450%	3/15/29	34,450	38,668
Pharmacia LLC	6.600%	12/1/28	11,932	16,194
Philip Morris International Inc.	3.375%	8/11/25	11,898	12,859
Philip Morris International Inc.	2.750%	2/25/26	16,306	17,169
Philip Morris International Inc.	3.125%	8/17/27	4,070	4,380
Philip Morris International Inc.	3.125%	3/2/28	13,157	14,066
Philip Morris International Inc.	3.375%	8/15/29	7,447	8,125
Procter & Gamble Co.	2.700%	2/2/26	10,903	11,776
Procter & Gamble Co.	2.450%	11/3/26	15,640	16,667
Procter & Gamble Co.	2.850%	8/11/27	13,070	14,352
Providence St. Joseph Health Obligated Group	2.746%	10/1/26	6,147	6,626
Providence St. Joseph Health Obligated Group	2.532%	10/1/29	10,562	10,945
Quest Diagnostics Inc.	3.500%	3/30/25	9,345	10,119
Quest Diagnostics Inc.	3.450%	6/1/26	8,015	8,752
Quest Diagnostics Inc.	4.200%	6/30/29	5,830	6,686
Reynolds American Inc.	4.450%	6/12/25	36,164	39,924
Sanofi	3.625%	6/19/28	14,385	16,505
Shire Acquisitions Investments Ireland DAC	3.200%	9/23/26	46,385	49,593
SSM Health Care Corp.	3.823%	6/1/27	5,608	6,227
Stryker Corp.	3.375%	11/1/25	13,695	15,022
Stryker Corp.	3.500%	3/15/26	19,966	22,039
Stryker Corp.	3.650%	3/7/28	8,261	9,366
Sutter Health	3.695%	8/15/28	5,575	6,181
Sysco Corp.	3.550%	3/15/25	8,658	9,415
Sysco Corp.	3.750%	10/1/25	13,382	14,784
Sysco Corp.	3.300%	7/15/26	12,545	13,642
Sysco Corp.	3.250%	7/15/27	15,819	17,107
Sysco Corp.	2.400%	2/15/30	7,220	7,398
Takeda Pharmaceutical Co. Ltd.	5.000%	11/26/28	35,292	42,767
Thermo Fisher Scientific Inc.	3.650%	12/15/25	9,866	10,981
Thermo Fisher Scientific Inc.	2.950%	9/19/26	34,625	37,069
Thermo Fisher Scientific Inc.	3.200%	8/15/27	12,896	14,187
Thermo Fisher Scientific Inc.	2.600%	10/1/29	4,309	4,452
Toledo Hospital	5.325%	11/15/28	5,175	6,037
Tyson Foods Inc.	4.000%	3/1/26	19,044	21,177
Tyson Foods Inc.	3.550%	6/2/27	26,356	28,788
Tyson Foods Inc.	4.350%	3/1/29	24,455	28,607
Unilever Capital Corp.	3.375%	3/22/25	7,425	8,154
Unilever Capital Corp.	3.100%	7/30/25	11,224	12,150
Unilever Capital Corp.	2.000%	7/28/26	18,861	19,604

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Unilever Capital Corp.	2.900%	5/5/27	19,945	21,493
	Unilever Capital Corp.	3.500%	3/22/28	11,710	13,200
	Unilever Capital Corp.	2.125%	9/6/29	21,475	21,740
	Whirlpool Corp.	3.700%	5/1/25	5,470	5,922
	Whirlpool Corp.	4.750%	2/26/29	11,795	13,692
	Zimmer Biomet Holdings Inc.	3.550%	4/1/25	25,036	26,990
	Zoetis Inc.	4.500%	11/13/25	14,203	16,228
	Zoetis Inc.	3.000%	9/12/27	10,892	11,655
	Zoetis Inc.	3.900%	8/20/28	10,964	12,533
	Energy (8.4%)
	Apache Corp.	4.375%	10/15/28	20,817	21,982
	Apache Corp.	4.250%	1/15/30	5,400	5,717
	Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor Inc.	3.337%	12/15/27	25,101	26,174
	Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor Inc.	3.138%	11/7/29	11,199	11,608
	Boardwalk Pipelines LP	5.950%	6/1/26	8,602	9,915
	Boardwalk Pipelines LP	4.450%	7/15/27	2,790	2,929
	Boardwalk Pipelines LP	4.800%	5/3/29	9,300	9,827
	BP Capital Markets America Inc.	3.796%	9/21/25	20,257	22,347
	BP Capital Markets America Inc.	3.410%	2/11/26	13,869	15,069
	BP Capital Markets America Inc.	3.119%	5/4/26	25,977	27,676
	BP Capital Markets America Inc.	3.017%	1/16/27	20,694	22,247
	BP Capital Markets America Inc.	3.588%	4/14/27	12,976	14,335
	BP Capital Markets America Inc.	3.937%	9/21/28	18,793	21,342
	BP Capital Markets America Inc.	4.234%	11/6/28	26,347	30,497
	BP Capital Markets plc	3.506%	3/17/25	16,743	18,157
	BP Capital Markets plc	3.279%	9/19/27	27,814	29,880
	BP Capital Markets plc	3.723%	11/28/28	15,755	17,470
	Canadian Natural Resources Ltd.	3.850%	6/1/27	20,125	21,496
	Cenovus Energy Inc.	4.250%	4/15/27	21,275	22,795
	Cheniere Corpus Christi Holdings LLC	5.875%	3/31/25	23,050	25,787
	Cheniere Corpus Christi Holdings LLC	5.125%	6/30/27	34,674	37,651
2	Cheniere Corpus Christi Holdings LLC	3.700%	11/15/29	28,499	28,428
	Chevron Corp.	3.326%	11/17/25	14,013	15,289
	Chevron Corp.	2.954%	5/16/26	42,558	45,511
	Cimarex Energy Co.	3.900%	5/15/27	5,334	5,478
	Cimarex Energy Co.	4.375%	3/15/29	10,458	11,071
	Columbia Pipeline Group Inc.	4.500%	6/1/25	14,270	15,899
	Concho Resources Inc.	3.750%	10/1/27	21,332	22,079
	Concho Resources Inc.	4.300%	8/15/28	20,928	22,602
	ConocoPhillips Co.	3.350%	5/15/25	1,388	1,496
	ConocoPhillips Co.	4.950%	3/15/26	22,764	26,671
	ConocoPhillips Holding Co.	6.950%	4/15/29	31,769	43,342
	Continental Resources Inc.	4.375%	1/15/28	17,596	17,068
	Devon Energy Corp.	5.850%	12/15/25	13,044	15,471
	Diamondback Energy Inc.	2.875%	12/1/24	5,000	5,020
	Diamondback Energy Inc.	3.250%	12/1/26	22,460	22,579
	Diamondback Energy Inc.	3.500%	12/1/29	24,706	24,282
	Dominion Energy Gas Holdings LLC	3.000%	11/15/29	6,545	6,843
	Enable Midstream Partners LP	4.400%	3/15/27	14,181	14,171
	Enable Midstream Partners LP	4.950%	5/15/28	18,105	18,097
	Enable Midstream Partners LP	4.150%	9/15/29	10,177	9,583
	Enbridge Energy Partners LP	5.875%	10/15/25	10,481	12,562
	Enbridge Inc.	4.250%	12/1/26	10,730	12,020
	Enbridge Inc.	3.700%	7/15/27	4,909	5,332
	Enbridge Inc.	3.125%	11/15/29	19,245	19,926
	Energy Transfer Operating LP	4.050%	3/15/25	12,433	13,293
	Energy Transfer Operating LP	2.900%	5/15/25	13,450	13,697
	Energy Transfer Operating LP	4.750%	1/15/26	7,985	8,788
	Energy Transfer Operating LP	4.200%	4/15/27	15,509	16,627
	Energy Transfer Operating LP	5.500%	6/1/27	13,458	15,335

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Energy Transfer Operating LP	5.250%	4/15/29	20,961	23,660
	Energy Transfer Operating LP	3.750%	5/15/30	5,000	5,041
	Energy Transfer Partners LP	4.950%	6/15/28	23,566	26,042
	Eni USA Inc.	7.300%	11/15/27	1,000	1,324
	Enterprise Products Operating LLC	3.750%	2/15/25	7,000	7,612
	Enterprise Products Operating LLC	3.700%	2/15/26	14,419	15,768
	Enterprise Products Operating LLC	3.950%	2/15/27	7,696	8,493
	Enterprise Products Operating LLC	4.150%	10/16/28	10,293	11,698
	Enterprise Products Operating LLC	3.125%	7/31/29	31,212	32,651
	Enterprise Products Operating LLC	2.800%	1/31/30	18,325	18,688
1	Enterprise Products Operating LLC	5.250%	8/16/77	13,556	13,847
1	Enterprise Products Operating LLC	5.375%	2/15/78	12,500	12,777
	EOG Resources Inc.	3.150%	4/1/25	5,330	5,751
	EOG Resources Inc.	4.150%	1/15/26	9,141	10,221
	EQT Corp.	3.900%	10/1/27	2,241	1,434
	Exxon Mobil Corp.	2.709%	3/6/25	24,464	25,694
	Exxon Mobil Corp.	3.043%	3/1/26	50,423	53,869
	Exxon Mobil Corp.	2.275%	8/16/26	26,589	27,557
	Exxon Mobil Corp.	2.440%	8/16/29	14,350	14,851
	Halliburton Co.	3.800%	11/15/25	31,501	34,748
	Halliburton Co.	2.920%	3/1/30	5,000	4,882
	Helmerich & Payne Inc.	4.650%	3/15/25	6,700	7,471
	Hess Corp.	4.300%	4/1/27	18,058	19,034
	Hess Corp.	7.875%	10/1/29	4,435	5,944
	HollyFrontier Corp.	5.875%	4/1/26	17,809	19,585
	Husky Energy Inc.	4.400%	4/15/29	13,461	14,496
	Kinder Morgan Inc.	4.300%	6/1/25	24,596	27,158
	Kinder Morgan Inc.	4.300%	3/1/28	22,062	24,520
	Magellan Midstream Partners LP	5.000%	3/1/26	8,010	9,242
	Marathon Oil Corp.	3.850%	6/1/25	20,358	21,706
	Marathon Oil Corp.	4.400%	7/15/27	16,044	17,295
	Marathon Petroleum Corp.	5.125%	12/15/26	3,316	3,873
	Marathon Petroleum Corp.	3.800%	4/1/28	13,675	14,452
	MPLX LP	4.000%	2/15/25	3,968	4,240
	MPLX LP	4.875%	6/1/25	15,101	16,784
	MPLX LP	4.125%	3/1/27	22,590	24,213
2	MPLX LP	4.250%	12/1/27	12,266	13,517
	MPLX LP	4.000%	3/15/28	23,979	25,348
	MPLX LP	4.800%	2/15/29	14,926	16,622
	National Fuel Gas Co.	5.200%	7/15/25	8,345	9,395
	National Fuel Gas Co.	3.950%	9/15/27	5,834	6,158
	National Fuel Gas Co.	4.750%	9/1/28	3,010	3,325
	National Oilwell Varco Inc.	3.600%	12/1/29	4,835	4,908
	Newfield Exploration Co.	5.375%	1/1/26	7,482	7,927
	Noble Energy Inc.	3.850%	1/15/28	15,572	16,099
	Noble Energy Inc.	3.250%	10/15/29	2,870	2,963
	Occidental Petroleum Corp.	3.500%	6/15/25	15,151	15,672
	Occidental Petroleum Corp.	5.550%	3/15/26	11,706	13,193
	Occidental Petroleum Corp.	3.400%	4/15/26	30,092	30,672
	Occidental Petroleum Corp.	3.200%	8/15/26	21,410	21,654
	Occidental Petroleum Corp.	3.000%	2/15/27	2,000	1,998
	Occidental Petroleum Corp.	3.500%	8/15/29	25,693	25,657
	ONEOK Inc.	4.000%	7/13/27	14,822	16,017
	ONEOK Inc.	4.350%	3/15/29	19,074	21,242
	ONEOK Inc.	3.400%	9/1/29	18,149	18,769
	ONEOK Partners LP	4.900%	3/15/25	7,539	8,471
	Patterson-UTI Energy Inc.	3.950%	2/1/28	13,206	12,746
	Patterson-UTI Energy Inc.	5.150%	11/15/29	7,841	8,214
	Phillips 66	3.900%	3/15/28	12,946	14,504
	Phillips 66 Partners LP	3.550%	10/1/26	7,600	8,281
	Phillips 66 Partners LP	3.750%	3/1/28	8,168	8,787
	Phillips 66 Partners LP	3.150%	12/15/29	8,004	8,350
	Pioneer Natural Resources Co.	4.450%	1/15/26	8,710	9,823
	Plains All American Pipeline LP / PAA Finance Corp.	4.650%	10/15/25	22,114	24,082

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Plains All American Pipeline LP / PAA Finance Corp.	4.500%	12/15/26	10,745	11,557
	Plains All American Pipeline LP / PAA Finance Corp.	3.550%	12/15/29	17,520	17,187
	Sabine Pass Liquefaction LLC	5.625%	3/1/25	21,892	24,820
	Sabine Pass Liquefaction LLC	5.875%	6/30/26	29,871	34,501
	Sabine Pass Liquefaction LLC	5.000%	3/15/27	34,591	38,195
	Sabine Pass Liquefaction LLC	4.200%	3/15/28	29,017	30,685
	Shell International Finance BV	3.250%	5/11/25	47,240	50,918
	Shell International Finance BV	2.875%	5/10/26	36,235	38,513
	Shell International Finance BV	2.500%	9/12/26	15,847	16,577
	Shell International Finance BV	3.875%	11/13/28	26,083	29,555
	Shell International Finance BV	2.375%	11/7/29	27,175	27,668
	Spectra Energy Partners LP	3.500%	3/15/25	6,827	7,308
	Spectra Energy Partners LP	3.375%	10/15/26	15,671	16,830
	Sunoco Logistics Partners Operations LP	5.950%	12/1/25	14,852	17,389
	Sunoco Logistics Partners Operations LP	3.900%	7/15/26	18,500	19,840
	Sunoco Logistics Partners Operations LP	4.000%	10/1/27	21,793	23,725
	TC PipeLines LP	4.375%	3/13/25	2,975	3,208
	TC PipeLines LP	3.900%	5/25/27	10,735	11,504
	Tennessee Gas Pipeline Co. LLC	7.000%	3/15/27	3,083	3,866
	Tennessee Gas Pipeline Co. LLC	7.000%	10/15/28	6,072	7,970
	Total Capital International SA	3.455%	2/19/29	23,600	26,200
	Total Capital International SA	2.829%	1/10/30	18,883	19,997
	Total Capital SA	3.883%	10/11/28	20,446	23,385
	TransCanada PipeLines Ltd.	4.875%	1/15/26	22,334	25,302
	TransCanada PipeLines Ltd.	4.250%	5/15/28	17,480	19,692
1	Transcanada Trust	5.500%	9/15/79	18,025	19,016
	Transcontinental Gas Pipe Line Co. LLC	7.850%	2/1/26	21,773	28,181
	Transcontinental Gas Pipe Line Co. LLC	4.000%	3/15/28	9,542	10,427
	Valero Energy Corp.	3.650%	3/15/25	10,921	11,798
	Valero Energy Corp.	3.400%	9/15/26	18,561	19,980
	Valero Energy Corp.	4.350%	6/1/28	15,819	17,591
	Valero Energy Corp.	4.000%	4/1/29	17,892	19,461
	Valero Energy Partners LP	4.375%	12/15/26	13,611	15,378
	Valero Energy Partners LP	4.500%	3/15/28	16,037	18,262
	Western Midstream Operating LP	3.100%	2/1/25	5,215	5,211
	Western Midstream Operating LP	3.950%	6/1/25	10,496	10,671
	Western Midstream Operating LP	4.650%	7/1/26	6,125	6,474
	Western Midstream Operating LP	4.500%	3/1/28	3,801	3,873
	Western Midstream Operating LP	4.750%	8/15/28	5,786	5,953
	Western Midstream Operating LP	4.050%	2/1/30	22,125	21,734
	Williams Cos. Inc.	4.000%	9/15/25	22,323	24,160
	Williams Cos. Inc.	3.750%	6/15/27	16,852	17,719
	Other Industrial (0.2%)
	CBRE Services Inc.	5.250%	3/15/25	6,245	7,191
	CBRE Services Inc.	4.875%	3/1/26	10,096	11,546
	Cintas Corp. No. 2	3.700%	4/1/27	17,525	19,571
	Fluor Corp.	4.250%	9/15/28	11,040	10,346
	Hillenbrand Inc.	4.500%	9/15/26	6,459	6,986
	Steelcase Inc.	5.125%	1/18/29	7,600	8,908
	Technology (8.9%)
	Adobe Inc.	2.150%	2/1/27	16,405	16,752
	Adobe Inc.	2.300%	2/1/30	8,650	8,866
	Alphabet Inc.	1.998%	8/15/26	35,328	36,304
	Amphenol Corp.	2.050%	3/1/25	3,500	3,547
	Amphenol Corp.	4.350%	6/1/29	3,113	3,587
	Amphenol Corp.	2.800%	2/15/30	14,550	14,980
	Analog Devices Inc.	3.900%	12/15/25	14,800	16,390
	Analog Devices Inc.	3.500%	12/5/26	11,525	12,557
	Apple Inc.	2.500%	2/9/25	2,109	2,213
	Apple Inc.	3.200%	5/13/25	38,773	42,027
	Apple Inc.	3.250%	2/23/26	49,199	53,667

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Apple Inc.	2.450%	8/4/26	52,933	55,449
	Apple Inc.	2.050%	9/11/26	34,800	35,660
	Apple Inc.	3.350%	2/9/27	53,624	59,054
	Apple Inc.	3.200%	5/11/27	50,083	54,789
	Apple Inc.	3.000%	6/20/27	8,826	9,551
	Apple Inc.	2.900%	9/12/27	48,586	52,069
	Apple Inc.	3.000%	11/13/27	5,727	6,191
	Apple Inc.	2.200%	9/11/29	22,770	23,342
	Applied Materials Inc.	3.900%	10/1/25	17,111	19,116
	Applied Materials Inc.	3.300%	4/1/27	21,936	23,927
	Arrow Electronics Inc.	4.000%	4/1/25	5,445	5,779
	Arrow Electronics Inc.	3.875%	1/12/28	8,027	8,478
	Autodesk Inc.	4.375%	6/15/25	7,130	8,015
	Autodesk Inc.	3.500%	6/15/27	11,009	12,042
	Autodesk Inc.	2.850%	1/15/30	5,250	5,487
	Avnet Inc.	4.625%	4/15/26	8,405	9,167
	Baidu Inc.	4.125%	6/30/25	6,010	6,605
	Baidu Inc.	3.625%	7/6/27	10,875	11,731
	Baidu Inc.	4.375%	3/29/28	6,300	7,135
	Baidu Inc.	4.875%	11/14/28	9,925	11,712
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.875%	1/15/27	78,432	82,263
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.500%	1/15/28	23,365	24,172
2	Broadcom Inc.	4.250%	4/15/26	47,121	50,871
2	Broadcom Inc.	4.750%	4/15/29	50,165	55,830
	Broadridge Financial Solutions Inc.	3.400%	6/27/26	8,814	9,619
	Broadridge Financial Solutions Inc.	2.900%	12/1/29	13,325	13,862
	CA Inc.	4.700%	3/15/27	6,174	6,895
	Cisco Systems Inc.	3.500%	6/15/25	7,616	8,426
	Cisco Systems Inc.	2.950%	2/28/26	17,988	19,390
	Cisco Systems Inc.	2.500%	9/20/26	20,000	21,121
	Citrix Systems Inc.	4.500%	12/1/27	12,572	13,892
	Citrix Systems Inc.	3.300%	3/1/30	2,500	2,494
2	Dell International LLC / EMC Corp.	6.020%	6/15/26	80,808	94,630
2	Dell International LLC / EMC Corp.	4.900%	10/1/26	34,115	38,683
2	Dell International LLC / EMC Corp.	5.300%	10/1/29	14,899	17,096
	DXC Technology Co.	4.750%	4/15/27	8,542	9,357
	Equinix Inc.	5.875%	1/15/26	15,065	15,894
	Equinix Inc.	2.900%	11/18/26	10,175	10,602
	Equinix Inc.	5.375%	5/15/27	17,000	18,339
	Equinix Inc.	3.200%	11/18/29	20,300	21,328
	Fidelity National Information Services Inc.	5.000%	10/15/25	500	585
	Fidelity National Information Services Inc.	3.000%	8/15/26	36,382	38,686
	Fidelity National Information Services Inc.	4.250%	5/15/28	5,540	6,384
	Fidelity National Information Services Inc.	3.750%	5/21/29	24,133	27,174
	Fiserv Inc.	3.850%	6/1/25	15,642	17,217
	Fiserv Inc.	3.200%	7/1/26	15,475	16,462
	Fiserv Inc.	4.200%	10/1/28	19,039	21,734
	Fiserv Inc.	3.500%	7/1/29	56,887	62,048
	Flex Ltd.	4.750%	6/15/25	4,165	4,577
	Flex Ltd.	4.875%	6/15/29	14,150	15,648
	Global Payments Inc.	2.650%	2/15/25	3,133	3,243
	Global Payments Inc.	3.200%	8/15/29	28,158	29,944
	Hewlett Packard Enterprise Co.	4.900%	10/15/25	56,785	64,655
	Intel Corp.	3.700%	7/29/25	44,701	49,421
	Intel Corp.	2.600%	5/19/26	16,579	17,452
	Intel Corp.	3.150%	5/11/27	11,979	12,991
	Intel Corp.	2.450%	11/15/29	29,500	30,645
	International Business Machines Corp.	7.000%	10/30/25	14,312	18,317
	International Business Machines Corp.	3.450%	2/19/26	33,029	36,141
	International Business Machines Corp.	3.300%	5/15/26	62,020	67,403
	International Business Machines Corp.	3.300%	1/27/27	2,380	2,600
	International Business Machines Corp.	6.220%	8/1/27	5,279	6,795
	International Business Machines Corp.	6.500%	1/15/28	4,150	5,468

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	International Business Machines Corp.	3.500%	5/15/29	62,661	70,365
	Jabil Inc.	3.950%	1/12/28	8,378	9,088
	Jabil Inc.	3.600%	1/15/30	9,300	9,530
	Juniper Networks Inc.	4.350%	6/15/25	5,350	5,935
	Juniper Networks Inc.	3.750%	8/15/29	13,985	15,097
	Keysight Technologies Inc.	4.600%	4/6/27	4,694	5,319
	Keysight Technologies Inc.	3.000%	10/30/29	10,153	10,632
	KLA Corp.	4.100%	3/15/29	14,169	16,085
	Lam Research Corp.	3.800%	3/15/25	8,748	9,622
	Lam Research Corp.	3.750%	3/15/26	18,490	20,395
	Lam Research Corp.	4.000%	3/15/29	12,930	14,604
	Marvell Technology Group Ltd.	4.875%	6/22/28	7,975	8,952
	Maxim Integrated Products Inc.	3.450%	6/15/27	6,215	6,676
	Micron Technology Inc.	4.975%	2/6/26	10,589	11,780
	Micron Technology Inc.	4.185%	2/15/27	11,160	12,053
	Micron Technology Inc.	5.327%	2/6/29	11,707	13,492
	Micron Technology Inc.	4.663%	2/15/30	10,800	11,894
	Microsoft Corp.	2.700%	2/12/25	20,460	21,661
	Microsoft Corp.	3.125%	11/3/25	43,200	46,961
	Microsoft Corp.	2.400%	8/8/26	73,888	77,647
	Microsoft Corp.	3.300%	2/6/27	76,085	84,419
	Motorola Solutions Inc.	4.600%	2/23/28	19,752	22,305
	Motorola Solutions Inc.	4.600%	5/23/29	7,024	8,076
	NVIDIA Corp.	3.200%	9/16/26	16,589	17,984
2	NXP BV / NXP Funding LLC	5.350%	3/1/26	15,900	18,285
2	NXP BV / NXP Funding LLC	5.550%	12/1/28	9,350	11,138
2	NXP BV / NXP Funding LLC / NXP USA Inc.	3.875%	6/18/26	7,355	7,879
2	NXP BV / NXP Funding LLC / NXP USA Inc.	4.300%	6/18/29	23,030	25,650
	Oracle Corp.	2.950%	5/15/25	36,111	38,438
	Oracle Corp.	2.650%	7/15/26	58,723	61,939
	Oracle Corp.	3.250%	11/15/27	41,655	45,723
	PayPal Holdings Inc.	2.650%	10/1/26	20,193	21,175
	PayPal Holdings Inc.	2.850%	10/1/29	27,590	28,774
	QUALCOMM Inc.	3.450%	5/20/25	35,614	38,486
	QUALCOMM Inc.	3.250%	5/20/27	28,628	30,827
	salesforce.com Inc.	3.700%	4/11/28	26,473	29,894
	Seagate HDD Cayman	4.875%	6/1/27	11,897	12,655
	Tech Data Corp.	4.950%	2/15/27	8,054	8,488
	Texas Instruments Inc.	2.900%	11/3/27	8,972	9,659
	Texas Instruments Inc.	2.250%	9/4/29	18,249	18,655
	Total System Services Inc.	4.800%	4/1/26	13,433	15,386
	Total System Services Inc.	4.450%	6/1/28	7,788	8,913
	Trimble Inc.	4.900%	6/15/28	10,542	11,959
	Tyco Electronics Group SA	3.700%	2/15/26	4,515	4,926
	Tyco Electronics Group SA	3.125%	8/15/27	9,258	9,898
	Verisk Analytics Inc.	4.000%	6/15/25	19,719	21,798
	Verisk Analytics Inc.	4.125%	3/15/29	18,824	21,539
	VMware Inc.	3.900%	8/21/27	33,494	35,768
	Transportation (2.2%)
1	American Airlines 2013-1 Class A Pass Through Trust	4.000%	1/15/27	2,451	2,629
1	American Airlines 2014-1 Class A Pass Through Trust	3.700%	4/1/28	4,886	5,340
1	American Airlines 2015-1 Class A Pass Through Trust	3.375%	11/1/28	10,671	11,490
1	American Airlines 2015-1 Class B Pass Through Trust	3.700%	11/1/24	1,435	1,486
1	American Airlines 2015-2 Class AA Pass Through Trust	3.600%	9/22/27	2,857	3,120
1	American Airlines 2016-1 Class AA Pass Through Trust	3.575%	1/15/28	6,394	7,033
1	American Airlines 2016-2 Class A Pass Through Trust	3.650%	6/15/28	3,397	3,665
1	American Airlines 2016-2 Class AA Pass Through Trust	3.200%	12/15/29	6,430	6,927
1	American Airlines 2016-3 Class A Pass Through Trust	3.250%	4/15/30	240	257
	American Airlines 2016-3 Class AA Pass Through Trust	3.000%	10/15/28	5,122	5,460
1	American Airlines 2017-1 Class AA Pass Through Trust	3.650%	8/15/30	5,158	5,661
1	American Airlines 2017-1B Class B Pass Through Trust	4.950%	2/15/25	1,595	1,719
1	American Airlines 2017-2 Class AA Pass Through Trust	3.350%	10/15/29	8,098	8,742
1	BNSF Funding Trust I	6.613%	12/15/55	1,990	2,217

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Burlington Northern Santa Fe LLC	3.000%	4/1/25	11,070	11,831
	Burlington Northern Santa Fe LLC	3.650%	9/1/25	13,287	14,761
	Burlington Northern Santa Fe LLC	7.000%	12/15/25	4,796	6,164
	Burlington Northern Santa Fe LLC	3.250%	6/15/27	12,855	14,183
	Canadian National Railway Co.	2.950%	11/21/24	4	4
	Canadian National Railway Co.	2.750%	3/1/26	10,193	10,826
	Canadian National Railway Co.	6.900%	7/15/28	4,641	6,465
	Canadian Pacific Railway Co.	4.000%	6/1/28	9,801	11,278
	CH Robinson Worldwide Inc.	4.200%	4/15/28	9,659	10,936
	CSX Corp.	3.350%	11/1/25	15,836	17,329
	CSX Corp.	2.600%	11/1/26	14,525	15,301
	CSX Corp.	3.250%	6/1/27	12,704	13,720
	CSX Corp.	3.800%	3/1/28	20,123	22,414
	CSX Corp.	4.250%	3/15/29	21,779	25,232
1	CSX Transportation Inc.	6.251%	1/15/23	23	26
1	Delta Air Lines 2015-1 Class AA Pass Through Trust	3.625%	7/30/27	302	332
	Delta Air Lines Inc.	4.375%	4/19/28	12,189	13,221
	Delta Air Lines Inc.	3.750%	10/28/29	10,400	10,434
	FedEx Corp.	2.700%	4/15/23	1,500	1,548
	FedEx Corp.	3.250%	4/1/26	17,809	19,060
	FedEx Corp.	3.300%	3/15/27	6,869	7,282
	FedEx Corp.	3.400%	2/15/28	9,017	9,620
	FedEx Corp.	4.200%	10/17/28	6,708	7,500
	FedEx Corp.	3.100%	8/5/29	10,589	10,998
	JB Hunt Transport Services Inc.	3.875%	3/1/26	16,592	18,322
	Kansas City Southern	2.875%	11/15/29	13,307	13,844
	Kirby Corp.	4.200%	3/1/28	8,905	9,797
1	Latam Airlines 2015-1 Pass Through Trust A	4.200%	8/15/29	4,879	4,928
	Norfolk Southern Corp.	5.590%	5/17/25	1,770	2,089
	Norfolk Southern Corp.	3.650%	8/1/25	3,681	4,039
	Norfolk Southern Corp.	2.900%	6/15/26	13,359	14,268
	Norfolk Southern Corp.	7.800%	5/15/27	4,142	5,657
	Norfolk Southern Corp.	3.150%	6/1/27	11,956	12,896
	Norfolk Southern Corp.	3.800%	8/1/28	10,507	11,905
	Norfolk Southern Corp.	2.550%	11/1/29	4,951	5,150
	Ryder System Inc.	2.900%	12/1/26	11,350	11,911
	Southwest Airlines Co.	3.000%	11/15/26	6,702	7,098
	Southwest Airlines Co.	3.450%	11/16/27	4,190	4,624
	Southwest Airlines Co.	2.625%	2/10/30	11,000	11,082
1	Spirit Airlines Class A Pass Through Certificates Series 2015-1	4.100%	10/1/29	2,399	2,599
	Union Pacific Corp.	3.750%	7/15/25	13,121	14,521
	Union Pacific Corp.	3.250%	8/15/25	10,611	11,569
	Union Pacific Corp.	2.750%	3/1/26	11,306	11,891
	Union Pacific Corp.	2.150%	2/5/27	6,200	6,315
	Union Pacific Corp.	3.000%	4/15/27	6,097	6,543
	Union Pacific Corp.	3.950%	9/10/28	28,989	33,002
	Union Pacific Corp.	6.625%	2/1/29	420	563
	Union Pacific Corp.	3.700%	3/1/29	11,975	13,502
	Union Pacific Corp.	2.400%	2/5/30	18,070	18,515
1	United Airlines 2013-1 Class A Pass Through Trust	4.300%	2/15/27	6,459	7,143
1	United Airlines 2014-1 Class A Pass Through Trust	4.000%	10/11/27	7,011	7,651
1	United Airlines 2014-2 Class A Pass Through Trust	3.750%	3/3/28	10,068	10,964
1	United Airlines 2015-1 Class AA Pass Through Trust	3.450%	12/1/27	6,999	7,628
1	United Airlines 2016-1 Class A Pass Through Trust	3.450%	1/7/30	3,767	4,061
1	United Airlines 2016-1 Class AA Pass Through Trust	3.100%	7/7/28	9,115	9,732
1	United Airlines 2016-2 Class AA Pass Through Trust	2.875%	10/7/28	2,973	3,164
	United Parcel Service Inc.	2.800%	11/15/24	4	4
	United Parcel Service Inc.	2.400%	11/15/26	11,134	11,661
	United Parcel Service Inc.	3.050%	11/15/27	13,137	14,211
	United Parcel Service Inc.	3.400%	3/15/29	15,554	17,118
	United Parcel Service Inc.	2.500%	9/1/29	8,447	8,753
1	US Airways 2012-1 Class A Pass Through Trust	5.900%	4/1/26	687	780
1	US Airways 2012-2 Class A Pass Through Trust	4.625%	12/3/26	1,638	1,791

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
1	US Airways 2013-1 Class A Pass Through Trust	3.950%	5/15/27	2,316	2,500
					18,028,041
Utilities (5.3%)
	Electric (4.6%)
	AEP Texas Inc.	3.950%	6/1/28	10,645	11,990
	AEP Transmission Co. LLC	3.100%	12/1/26	3,690	3,990
	Ameren Corp.	3.650%	2/15/26	5,106	5,502
	Ameren Illinois Co.	3.250%	3/1/25	4,177	4,480
	Ameren Illinois Co.	3.800%	5/15/28	7,489	8,493
	American Electric Power Co. Inc.	3.200%	11/13/27	5,900	6,285
	American Electric Power Co. Inc.	4.300%	12/1/28	5,564	6,388
	Appalachian Power Co.	3.400%	6/1/25	2,071	2,227
	Appalachian Power Co.	3.300%	6/1/27	4,600	4,967
	Arizona Public Service Co.	3.150%	5/15/25	4,870	5,193
	Arizona Public Service Co.	2.950%	9/15/27	3,836	4,090
	Arizona Public Service Co.	2.600%	8/15/29	4,080	4,249
	Atlantic City Electric Co.	4.000%	10/15/28	11,389	13,245
	Avangrid Inc.	3.800%	6/1/29	12,950	14,369
	Baltimore Gas & Electric Co.	2.400%	8/15/26	3,868	3,934
	Berkshire Hathaway Energy Co.	3.250%	4/15/28	13,820	14,995
	Black Hills Corp.	3.950%	1/15/26	5,845	6,376
	Black Hills Corp.	3.150%	1/15/27	4,435	4,601
	Black Hills Corp.	3.050%	10/15/29	9,291	9,736
	CenterPoint Energy Houston Electric LLC	2.400%	9/1/26	1,930	1,983
	CenterPoint Energy Houston Electric LLC	3.000%	2/1/27	3,621	3,857
	CenterPoint Energy Inc.	4.250%	11/1/28	10,075	11,508
	Cleco Corporate Holdings LLC	3.743%	5/1/26	7,633	8,146
2	Cleco Corporate Holdings LLC	3.375%	9/15/29	3,510	3,661
	CMS Energy Corp.	3.000%	5/15/26	5,606	5,942
	CMS Energy Corp.	3.450%	8/15/27	6,312	6,839
	Commonwealth Edison Co.	2.550%	6/15/26	6,507	6,830
	Commonwealth Edison Co.	2.950%	8/15/27	6,792	7,277
	Commonwealth Edison Co.	3.700%	8/15/28	8,303	9,448
	Commonwealth Edison Co.	2.200%	3/1/30	2,500	2,521
	Connecticut Light & Power Co.	3.200%	3/15/27	10,710	11,607
	Consolidated Edison Co. of New York Inc.	3.125%	11/15/27	7,239	7,865
	Consolidated Edison Co. of New York Inc.	3.800%	5/15/28	6,609	7,469
	Consolidated Edison Co. of New York Inc.	4.000%	12/1/28	6,350	7,297
	Consumers Energy Co.	3.800%	11/15/28	4,558	5,250
	Dominion Energy Inc.	3.900%	10/1/25	10,190	11,238
	Dominion Energy Inc.	2.850%	8/15/26	7,906	8,317
	Dominion Energy Inc.	4.250%	6/1/28	6,445	7,364
	DTE Electric Co.	3.375%	3/1/25	3,061	3,306
	DTE Electric Co.	2.250%	3/1/30	3,000	3,044
	DTE Energy Co.	2.850%	10/1/26	8,382	8,707
	DTE Energy Co.	3.800%	3/15/27	11,015	11,906
	DTE Energy Co.	3.400%	6/15/29	9,168	9,887
	Duke Energy Carolinas LLC	2.950%	12/1/26	6,865	7,361
	Duke Energy Carolinas LLC	3.950%	11/15/28	21,810	25,340
	Duke Energy Carolinas LLC	6.000%	12/1/28	2,475	3,218
	Duke Energy Carolinas LLC	2.450%	8/15/29	12,375	12,854
	Duke Energy Carolinas LLC	2.450%	2/1/30	3,000	3,124
	Duke Energy Corp.	2.650%	9/1/26	18,350	19,081
	Duke Energy Corp.	3.150%	8/15/27	11,866	12,724
	Duke Energy Corp.	3.400%	6/15/29	9,410	10,183
	Duke Energy Florida LLC	3.200%	1/15/27	15,680	16,955
	Duke Energy Florida LLC	3.800%	7/15/28	8,657	9,808
	Duke Energy Florida LLC	2.500%	12/1/29	8,062	8,351
1	Duke Energy Florida Project Finance LLC	2.538%	9/1/29	2,419	2,557
	Duke Energy Ohio Inc.	3.650%	2/1/29	12,925	14,597
	Duke Energy Progress LLC	3.250%	8/15/25	14,552	15,811
	Duke Energy Progress LLC	3.700%	9/1/28	9,254	10,451
	Duke Energy Progress LLC	3.450%	3/15/29	14,497	16,137

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Edison International	5.750%	6/15/27	10,855	12,702
	Edison International	4.125%	3/15/28	7,970	8,629
	Emera US Finance LP	3.550%	6/15/26	15,600	16,905
	Enel Americas SA	4.000%	10/25/26	9,089	9,765
	Enel Chile SA	4.875%	6/12/28	13,350	15,143
	Entergy Arkansas Inc.	3.500%	4/1/26	9,363	10,199
	Entergy Corp.	2.950%	9/1/26	6,351	6,690
	Entergy Louisiana LLC	2.400%	10/1/26	11,577	11,864
	Entergy Louisiana LLC	3.120%	9/1/27	10,020	10,783
	Entergy Louisiana LLC	3.250%	4/1/28	9,437	10,296
	Entergy Mississippi LLC	2.850%	6/1/28	8,127	8,607
	Entergy Texas Inc.	4.000%	3/30/29	3,654	4,134
	Evergy Inc.	2.900%	9/15/29	18,230	18,765
	Eversource Energy	3.300%	1/15/28	12,882	13,846
	Eversource Energy	4.250%	4/1/29	7,269	8,443
	Exelon Corp.	3.950%	6/15/25	15,771	17,350
	Exelon Corp.	3.400%	4/15/26	15,240	16,479
	FirstEnergy Corp.	3.900%	7/15/27	29,085	32,156
	FirstEnergy Corp.	2.650%	3/1/30	3,000	3,062
	Florida Power & Light Co.	3.125%	12/1/25	14,981	16,181
	Fortis Inc.	3.055%	10/4/26	19,211	20,103
	Georgia Power Co.	3.250%	4/1/26	7,427	8,010
	Georgia Power Co.	3.250%	3/30/27	7,738	8,276
	Georgia Power Co.	2.650%	9/15/29	18,390	19,297
	Gulf Power Co.	3.300%	5/30/27	6,385	6,885
	Indiana Michigan Power Co.	3.850%	5/15/28	12,495	14,097
	Interstate Power & Light Co.	4.100%	9/26/28	9,073	10,368
	Interstate Power & Light Co.	3.600%	4/1/29	7,125	7,931
	ITC Holdings Corp.	3.250%	6/30/26	10,918	11,667
	ITC Holdings Corp.	3.350%	11/15/27	9,130	9,973
	Kansas City Power & Light Co.	3.650%	8/15/25	705	773
	Louisville Gas & Electric Co.	3.300%	10/1/25	4,607	4,973
	MidAmerican Energy Co.	3.100%	5/1/27	6,000	6,477
	MidAmerican Energy Co.	3.650%	4/15/29	12,150	13,745
	Mississippi Power Co.	3.950%	3/30/28	2,350	2,624
	National Rural Utilities Cooperative Finance Corp.	3.250%	11/1/25	9,361	10,252
	National Rural Utilities Cooperative Finance Corp.	3.050%	4/25/27	6,389	6,936
	National Rural Utilities Cooperative Finance Corp.	3.400%	2/7/28	12,909	14,489
	National Rural Utilities Cooperative Finance Corp.	3.900%	11/1/28	5,665	6,538
	National Rural Utilities Cooperative Finance Corp.	3.700%	3/15/29	12,169	13,991
	National Rural Utilities Cooperative Finance Corp.	2.400%	3/15/30	2,000	2,072
1	National Rural Utilities Cooperative Finance Corp.	5.250%	4/20/46	6,700	7,425
	Nevada Power Co.	3.700%	5/1/29	9,825	11,090
	NextEra Energy Capital Holdings Inc.	3.250%	4/1/26	4,749	5,087
	NextEra Energy Capital Holdings Inc.	3.550%	5/1/27	15,766	17,195
	NextEra Energy Capital Holdings Inc.	3.500%	4/1/29	10,164	11,122
	NextEra Energy Capital Holdings Inc.	2.750%	11/1/29	15,245	15,932
1	NextEra Energy Capital Holdings Inc.	4.800%	12/1/77	16,150	17,018
1	NextEra Energy Capital Holdings Inc.	5.650%	5/1/79	4,275	4,767
	NSTAR Electric Co.	3.200%	5/15/27	9,925	10,749
	NSTAR Electric Co.	3.250%	5/15/29	2,333	2,553
	Oklahoma Gas & Electric Co.	3.800%	8/15/28	6,305	7,098
	Oncor Electric Delivery Co. LLC	2.950%	4/1/25	8,247	8,748
	Oncor Electric Delivery Co. LLC	3.700%	11/15/28	11,464	13,066
	Oncor Electric Delivery Co. LLC	5.750%	3/15/29	2,753	3,573
	PacifiCorp	3.500%	6/15/29	8,850	9,884
	PECO Energy Co.	3.150%	10/15/25	6,180	6,641
	PPL Capital Funding Inc.	3.100%	5/15/26	17,402	18,453
	Public Service Co. of Colorado	3.700%	6/15/28	6,575	7,449
	Public Service Electric & Gas Co.	3.000%	5/15/25	8,424	8,980
	Public Service Electric & Gas Co.	2.250%	9/15/26	8,339	8,556
	Public Service Electric & Gas Co.	3.000%	5/15/27	3,162	3,397
	Public Service Electric & Gas Co.	3.700%	5/1/28	7,210	8,126
	Public Service Electric & Gas Co.	3.650%	9/1/28	7,072	8,030

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Public Service Electric & Gas Co.	3.200%	5/15/29	7,798	8,704
	Public Service Electric & Gas Co.	2.450%	1/15/30	2,700	2,819
	Puget Energy Inc.	3.650%	5/15/25	10,385	11,106
	San Diego Gas & Electric Co.	2.500%	5/15/26	3,687	3,797
	Scottish Power Ltd.	5.810%	3/15/25	2,735	3,179
	Sierra Pacific Power Co.	2.600%	5/1/26	9,181	9,571
	Southern California Edison Co.	3.700%	8/1/25	6,675	7,306
	Southern California Edison Co.	3.650%	3/1/28	6,995	7,736
	Southern California Edison Co.	4.200%	3/1/29	6,462	7,462
	Southern California Edison Co.	6.650%	4/1/29	6,328	8,032
	Southern California Edison Co.	2.850%	8/1/29	10,550	11,101
	Southern Co.	3.250%	7/1/26	19,589	20,922
	Southern Power Co.	4.150%	12/1/25	8,034	8,973
	Southwestern Electric Power Co.	2.750%	10/1/26	6,582	6,830
	Southwestern Electric Power Co.	4.100%	9/15/28	16,102	18,251
	Tucson Electric Power Co.	3.050%	3/15/25	4,500	4,784
	Union Electric Co.	2.950%	6/15/27	6,275	6,661
	Union Electric Co.	3.500%	3/15/29	10,580	11,830
	Virginia Electric & Power Co.	3.100%	5/15/25	5,119	5,448
	Virginia Electric & Power Co.	3.150%	1/15/26	19,095	20,561
	Virginia Electric & Power Co.	2.950%	11/15/26	3,877	4,161
	Virginia Electric & Power Co.	3.500%	3/15/27	12,928	14,227
	Virginia Electric & Power Co.	3.800%	4/1/28	18,758	21,068
	Virginia Electric & Power Co.	2.875%	7/15/29	10,400	11,076
	WEC Energy Group Inc.	3.550%	6/15/25	8,592	9,317
	Westar Energy Inc.	2.550%	7/1/26	9,249	9,658
	Westar Energy Inc.	3.100%	4/1/27	8,647	9,270
	Wisconsin Power & Light Co.	3.050%	10/15/27	4,620	4,952
	Wisconsin Power & Light Co.	3.000%	7/1/29	1,575	1,698
	Xcel Energy Inc.	3.300%	6/1/25	6,106	6,532
	Xcel Energy Inc.	3.350%	12/1/26	7,659	8,196
	Xcel Energy Inc.	4.000%	6/15/28	7,717	8,753
	Xcel Energy Inc.	2.600%	12/1/29	8,950	9,107
	Natural Gas (0.5%)
	Atmos Energy Corp.	3.000%	6/15/27	8,188	8,785
	Atmos Energy Corp.	2.625%	9/15/29	4,475	4,651
	CenterPoint Energy Resources Corp.	4.000%	4/1/28	5,480	6,147
	NiSource Finance Corp.	3.490%	5/15/27	15,529	16,859
	NiSource Inc.	2.950%	9/1/29	15,198	15,869
	Piedmont Natural Gas Co. Inc.	3.500%	6/1/29	7,470	8,267
	Sempra Energy	3.750%	11/15/25	5,436	5,908
	Sempra Energy	3.250%	6/15/27	14,690	15,653
	Sempra Energy	3.400%	2/1/28	21,472	23,105
	Southern California Gas Co.	3.200%	6/15/25	2,300	2,464
	Southern California Gas Co.	2.600%	6/15/26	9,400	9,792
	Southern California Gas Co.	2.550%	2/1/30	11,500	12,006
	Southern Co. Gas Capital Corp.	3.250%	6/15/26	6,817	7,294
	Southwest Gas Corp.	3.700%	4/1/28	4,270	4,711
	Other Utility (0.2%)
	American Water Capital Corp.	3.400%	3/1/25	10,960	11,936
	American Water Capital Corp.	2.950%	9/1/27	8,590	9,065
	American Water Capital Corp.	3.750%	9/1/28	8,900	10,078
	American Water Capital Corp.	3.450%	6/1/29	13,375	14,724
	Essential Utilities Inc.	3.566%	5/1/29	6,400	7,041
	United Utilities plc	6.875%	8/15/28	2,312	2,941
					1,661,730
Total Corporate Bonds (Cost $29,297,505)					31,150,117

Vanguard^® Intermediate-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Shares	Market Value ($000)
Temporary Cash Investment (1.0%)
Money Market Fund
3	Vanguard Market Liquidity Fund (Cost $322,418)	1.706%	3,223,262	322,423
Total Investments (100.2%) (Cost $29,752,127)				31,605,018
Other Assets and Liabilities—Net (-0.2%)				(48,143)
Net Assets (100%)				31,556,875

Cost rounded to $000

Securities with a value of $1,511,000 have been segregated as initial margin for open futures contracts.

The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
U.S. Government and Agency Obligations (0.8%)
U.S. Government Securities
	United States Treasury Note/Bond	1.500%	2/15/30	19,010	19,657
	United States Treasury Note/Bond	2.375%	11/15/49	17,750	20,718
Total U.S. Government and Agency Obligations (Cost $40,234)					40,375
Corporate Bonds (98.0%)
Finance (16.7%)
	Banking (8.5%)
	Ally Financial Inc.	8.000%	11/1/31	5,300	7,306
	Ally Financial Inc.	8.000%	11/1/31	2,705	3,784
	American Express Co.	4.050%	12/3/42	2,312	2,891
	Bank of America Corp.	6.110%	1/29/37	4,988	6,912
1	Bank of America Corp.	4.244%	4/24/38	4,955	5,969
	Bank of America Corp.	7.750%	5/14/38	4,243	6,928
1	Bank of America Corp.	4.078%	4/23/40	2,655	3,104
	Bank of America Corp.	5.875%	2/7/42	3,756	5,513
	Bank of America Corp.	5.000%	1/21/44	5,440	7,340
	Bank of America Corp.	4.875%	4/1/44	342	463
	Bank of America Corp.	4.750%	4/21/45	2,386	3,102
1	Bank of America Corp.	4.443%	1/20/48	6,070	7,723
1	Bank of America Corp.	3.946%	1/23/49	2,585	3,068
1	Bank of America Corp.	4.330%	3/15/50	7,275	9,310
	Bank of America NA	6.000%	10/15/36	3,887	5,452
	Barclays plc	5.250%	8/17/45	4,280	5,410
	Barclays plc	4.950%	1/10/47	2,410	2,942
	Citigroup Inc.	6.625%	6/15/32	1,138	1,571
	Citigroup Inc.	5.875%	2/22/33	490	658
	Citigroup Inc.	6.000%	10/31/33	2,450	3,367
	Citigroup Inc.	6.125%	8/25/36	1,775	2,456
1	Citigroup Inc.	3.878%	1/24/39	2,418	2,792
	Citigroup Inc.	8.125%	7/15/39	4,731	8,140
	Citigroup Inc.	5.875%	1/30/42	2,687	3,949
	Citigroup Inc.	6.675%	9/13/43	3,335	5,157
	Citigroup Inc.	5.300%	5/6/44	972	1,302
	Citigroup Inc.	4.650%	7/30/45	2,806	3,669
	Citigroup Inc.	4.750%	5/18/46	6,654	8,362
1	Citigroup Inc.	4.281%	4/24/48	2,229	2,758
	Citigroup Inc.	4.650%	7/23/48	6,710	8,890
	Cooperatieve Rabobank UA	5.250%	5/24/41	3,520	5,072
	Cooperatieve Rabobank UA	5.750%	12/1/43	4,125	6,035
	Cooperatieve Rabobank UA	5.250%	8/4/45	1,279	1,746
	Credit Suisse Group Funding Guernsey Ltd.	4.875%	5/15/45	4,872	6,407
	Credit Suisse USA Inc.	7.125%	7/15/32	1,841	2,772
	Fifth Third Bancorp	8.250%	3/1/38	2,322	3,812
	First Republic Bank	4.375%	8/1/46	1,023	1,257
	First Republic Bank	4.625%	2/13/47	950	1,203
	Goldman Sachs Capital I	6.345%	2/15/34	2,822	3,997
	Goldman Sachs Group Inc.	6.125%	2/15/33	890	1,249
	Goldman Sachs Group Inc.	6.450%	5/1/36	2,086	2,855
	Goldman Sachs Group Inc.	6.750%	10/1/37	14,252	20,326
1	Goldman Sachs Group Inc.	4.017%	10/31/38	5,112	5,812
1	Goldman Sachs Group Inc.	4.411%	4/23/39	3,125	3,768
	Goldman Sachs Group Inc.	6.250%	2/1/41	7,592	11,112
	Goldman Sachs Group Inc.	4.800%	7/8/44	6,141	7,790
	Goldman Sachs Group Inc.	5.150%	5/22/45	4,429	5,693
	Goldman Sachs Group Inc.	4.750%	10/21/45	3,326	4,287
	HSBC Bank USA NA	7.000%	1/15/39	2,410	3,606
	HSBC Holdings plc	7.625%	5/17/32	886	1,298
	HSBC Holdings plc	6.500%	5/2/36	6,290	8,576
	HSBC Holdings plc	6.500%	9/15/37	6,320	8,634
	HSBC Holdings plc	6.800%	6/1/38	3,610	5,167
	HSBC Holdings plc	6.100%	1/14/42	2,378	3,480

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	HSBC Holdings plc	5.250%	3/14/44	2,632	3,342
	JPMorgan Chase & Co.	8.750%	9/1/30	158	240
	JPMorgan Chase & Co.	6.400%	5/15/38	5,890	8,807
1	JPMorgan Chase & Co.	3.882%	7/24/38	7,875	9,009
	JPMorgan Chase & Co.	5.500%	10/15/40	3,421	4,744
	JPMorgan Chase & Co.	5.600%	7/15/41	3,436	4,923
	JPMorgan Chase & Co.	5.400%	1/6/42	4,125	5,729
	JPMorgan Chase & Co.	5.625%	8/16/43	2,932	4,165
	JPMorgan Chase & Co.	4.850%	2/1/44	2,605	3,503
	JPMorgan Chase & Co.	4.950%	6/1/45	4,315	5,708
1	JPMorgan Chase & Co.	4.260%	2/22/48	5,748	7,104
1	JPMorgan Chase & Co.	4.032%	7/24/48	5,250	6,347
1	JPMorgan Chase & Co.	3.964%	11/15/48	7,245	8,677
1	JPMorgan Chase & Co.	3.897%	1/23/49	4,621	5,481
	Lloyds Banking Group plc	5.300%	12/1/45	2,693	3,452
	Lloyds Banking Group plc	4.344%	1/9/48	2,995	3,375
	Mitsubishi UFJ Financial Group Inc.	4.286%	7/26/38	2,300	2,892
	Mitsubishi UFJ Financial Group Inc.	4.153%	3/7/39	1,530	1,848
	Mitsubishi UFJ Financial Group Inc.	3.751%	7/18/39	3,360	3,894
	Morgan Stanley	7.250%	4/1/32	3,905	5,828
1	Morgan Stanley	3.971%	7/22/38	5,097	5,883
1	Morgan Stanley	4.457%	4/22/39	2,798	3,452
	Morgan Stanley	6.375%	7/24/42	5,026	7,699
	Morgan Stanley	4.300%	1/27/45	4,972	6,092
	Morgan Stanley	4.375%	1/22/47	3,913	4,960
	Regions Bank	6.450%	6/26/37	920	1,297
	Regions Financial Corp.	7.375%	12/10/37	996	1,489
1	Royal Bank of Scotland Group plc	3.754%	11/1/29	583	607
	Wachovia Corp.	7.500%	4/15/35	870	1,293
	Wachovia Corp.	5.500%	8/1/35	2,858	3,814
	Wells Fargo & Co.	5.375%	2/7/35	812	1,110
	Wells Fargo & Co.	5.375%	11/2/43	5,328	7,044
	Wells Fargo & Co.	5.606%	1/15/44	4,382	5,979
	Wells Fargo & Co.	4.650%	11/4/44	6,075	7,478
	Wells Fargo & Co.	3.900%	5/1/45	4,925	5,825
	Wells Fargo & Co.	4.900%	11/17/45	4,220	5,317
	Wells Fargo & Co.	4.400%	6/14/46	4,376	5,237
	Wells Fargo & Co.	4.750%	12/7/46	4,954	6,248
	Wells Fargo Bank NA	5.950%	8/26/36	2,275	3,258
	Wells Fargo Bank NA	5.850%	2/1/37	3,208	4,514
	Wells Fargo Bank NA	6.600%	1/15/38	3,463	5,285
1	Wells Fargo Capital X	5.950%	12/1/86	2,050	2,683
	Westpac Banking Corp.	4.421%	7/24/39	2,470	2,907
	Brokerage (0.4%)
	BlackRock Inc.	2.400%	4/30/30	1,850	1,913
	Brookfield Finance Inc.	4.700%	9/20/47	2,213	2,666
	Brookfield Finance LLC	3.450%	4/15/50	1,475	1,456
	CME Group Inc.	5.300%	9/15/43	2,091	3,014
	CME Group Inc.	4.150%	6/15/48	1,420	1,840
	Intercontinental Exchange Inc.	4.250%	9/21/48	2,235	2,723
	Invesco Finance plc	5.375%	11/30/43	1,753	2,328
	Jefferies Group LLC	6.250%	1/15/36	1,318	1,620
	Jefferies Group LLC	6.500%	1/20/43	1,319	1,623
	Legg Mason Inc.	5.625%	1/15/44	1,525	2,054
	Raymond James Financial Inc.	4.950%	7/15/46	1,976	2,484
	Finance Companies (0.6%)
	GATX Corp.	5.200%	3/15/44	505	637
	GE Capital International Funding Co. Unlimited Co.	4.418%	11/15/35	26,824	30,530
	Insurance (6.1%)
	ACE Capital Trust II	9.700%	4/1/30	502	777
	Aetna Inc.	6.625%	6/15/36	1,120	1,555
	Aetna Inc.	6.750%	12/15/37	1,411	2,080
	Aetna Inc.	4.500%	5/15/42	2,347	2,749

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Aetna Inc.	4.125%	11/15/42	1,333	1,439
	Aetna Inc.	4.750%	3/15/44	785	945
	Aetna Inc.	3.875%	8/15/47	1,160	1,227
	Aflac Inc.	4.000%	10/15/46	913	1,076
	Aflac Inc.	4.750%	1/15/49	1,375	1,791
	Alleghany Corp.	4.900%	9/15/44	872	1,113
	Allstate Corp.	5.350%	6/1/33	189	258
	Allstate Corp.	5.550%	5/9/35	1,376	1,933
	Allstate Corp.	5.950%	4/1/36	1,235	1,798
	Allstate Corp.	4.500%	6/15/43	648	830
	Allstate Corp.	4.200%	12/15/46	1,895	2,399
	Allstate Corp.	3.850%	8/10/49	1,390	1,641
1	Allstate Corp.	6.500%	5/15/67	1,200	1,548
	American Financial Group Inc.	4.500%	6/15/47	1,183	1,446
	American International Group Inc.	3.875%	1/15/35	2,308	2,633
	American International Group Inc.	4.700%	7/10/35	1,898	2,387
	American International Group Inc.	6.250%	5/1/36	1,490	2,055
	American International Group Inc.	4.500%	7/16/44	5,862	7,178
	American International Group Inc.	4.800%	7/10/45	2,950	3,717
	American International Group Inc.	4.750%	4/1/48	2,487	3,139
	American International Group Inc.	4.375%	1/15/55	1,959	2,316
1	American International Group Inc.	8.175%	5/15/68	285	397
	Anthem Inc.	5.950%	12/15/34	801	1,124
	Anthem Inc.	5.850%	1/15/36	950	1,277
	Anthem Inc.	6.375%	6/15/37	865	1,182
	Anthem Inc.	4.625%	5/15/42	2,438	2,863
	Anthem Inc.	4.650%	1/15/43	1,817	2,134
	Anthem Inc.	5.100%	1/15/44	2,534	3,205
	Anthem Inc.	4.650%	8/15/44	3,161	3,687
	Anthem Inc.	4.375%	12/1/47	3,652	4,167
	Anthem Inc.	4.550%	3/1/48	2,705	3,178
	Anthem Inc.	3.700%	9/15/49	500	514
	Aon Corp.	6.250%	9/30/40	170	253
	Aon plc	4.600%	6/14/44	1,623	2,001
	Aon plc	4.750%	5/15/45	2,204	2,788
	Arch Capital Finance LLC	5.031%	12/15/46	1,208	1,651
	Arch Capital Group Ltd.	7.350%	5/1/34	775	1,185
	Arch Capital Group US Inc.	5.144%	11/1/43	453	632
	Assurant Inc.	3.700%	2/22/30	700	757
	Assurant Inc.	6.750%	2/15/34	154	202
	AXA SA	8.600%	12/15/30	3,043	4,515
1	AXIS Specialty Finance LLC	4.900%	1/15/40	500	510
	Berkshire Hathaway Finance Corp.	5.750%	1/15/40	1,853	2,695
	Berkshire Hathaway Finance Corp.	4.400%	5/15/42	3,119	3,892
	Berkshire Hathaway Finance Corp.	4.300%	5/15/43	2,683	3,447
	Berkshire Hathaway Finance Corp.	4.200%	8/15/48	5,060	6,220
	Berkshire Hathaway Finance Corp.	4.250%	1/15/49	5,560	6,941
	Berkshire Hathaway Inc.	4.500%	2/11/43	2,141	2,835
	Brighthouse Financial Inc.	4.700%	6/22/47	1,880	1,897
	Chubb Corp.	6.000%	5/11/37	2,531	3,819
	Chubb Corp.	6.500%	5/15/38	1,389	2,128
	Chubb INA Holdings Inc.	6.700%	5/15/36	1,080	1,704
	Chubb INA Holdings Inc.	4.150%	3/13/43	1,262	1,551
	Chubb INA Holdings Inc.	4.350%	11/3/45	2,934	3,790
	Cincinnati Financial Corp.	6.125%	11/1/34	669	984
	Equitable Holdings Inc.	5.000%	4/20/48	5,129	5,791
	Everest Reinsurance Holdings Inc.	4.868%	6/1/44	933	1,145
	Hartford Financial Services Group Inc.	5.950%	10/15/36	1,329	1,906
	Hartford Financial Services Group Inc.	6.100%	10/1/41	541	812
	Hartford Financial Services Group Inc.	4.300%	4/15/43	988	1,193
	Hartford Financial Services Group Inc.	4.400%	3/15/48	2,130	2,724
	Hartford Financial Services Group Inc.	3.600%	8/19/49	445	487
	Humana Inc.	4.625%	12/1/42	924	1,086
	Humana Inc.	4.950%	10/1/44	2,155	2,675

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000)	Market Value ($000)
	Humana Inc.	4.800%	3/15/47	910	1,112
	Humana Inc.	3.950%	8/15/49	1,650	1,791
	Lincoln National Corp.	6.300%	10/9/37	1,383	1,982
	Lincoln National Corp.	7.000%	6/15/40	168	259
	Lincoln National Corp.	4.350%	3/1/48	1,350	1,539
	Loews Corp.	4.125%	5/15/43	1,561	1,923
	Manulife Financial Corp.	5.375%	3/4/46	1,855	2,631
	Markel Corp.	5.000%	4/5/46	1,165	1,490
	Markel Corp.	4.300%	11/1/47	1,040	1,215
	Markel Corp.	5.000%	5/20/49	750	970
	Markel Corp.	4.150%	9/17/50	1,700	1,937
	Marsh & McLennan Cos. Inc.	5.875%	8/1/33	903	1,250
	Marsh & McLennan Cos. Inc.	4.750%	3/15/39	2,415	3,148
	Marsh & McLennan Cos. Inc.	4.350%	1/30/47	883	1,119
	Marsh & McLennan Cos. Inc.	4.200%	3/1/48	435	536
	Marsh & McLennan Cos. Inc.	4.900%	3/15/49	3,135	4,199
	MetLife Inc.	6.500%	12/15/32	1,409	2,087
	MetLife Inc.	6.375%	6/15/34	2,275	3,384
	MetLife Inc.	5.700%	6/15/35	3,495	4,965
	MetLife Inc.	5.875%	2/6/41	2,404	3,423
	MetLife Inc.	4.125%	8/13/42	1,835	2,186
	MetLife Inc.	4.875%	11/13/43	2,055	2,769
	MetLife Inc.	4.721%	12/15/44	1,897	2,536
	MetLife Inc.	4.050%	3/1/45	690	825
	MetLife Inc.	4.600%	5/13/46	2,449	3,154
1	MetLife Inc.	6.400%	12/15/66	3,702	4,577
1	MetLife Inc.	10.750%	8/1/69	298	502
1	Nationwide Financial Services Inc.	6.750%	5/15/87	608	725
	Principal Financial Group Inc.	6.050%	10/15/36	350	502
	Principal Financial Group Inc.	4.625%	9/15/42	855	1,112
	Principal Financial Group Inc.	4.350%	5/15/43	1,233	1,500
	Principal Financial Group Inc.	4.300%	11/15/46	715	870
	Progressive Corp.	6.625%	3/1/29	1	1
	Progressive Corp.	6.250%	12/1/32	1,600	2,355
	Progressive Corp.	4.350%	4/25/44	950	1,246
	Progressive Corp.	3.700%	1/26/45	385	462
	Progressive Corp.	4.125%	4/15/47	1,371	1,702
	Progressive Corp.	4.200%	3/15/48	1,390	1,760
	Prudential Financial Inc.	5.750%	7/15/33	851	1,195
	Prudential Financial Inc.	5.700%	12/14/36	1,024	1,503
	Prudential Financial Inc.	6.625%	12/1/37	763	1,163
	Prudential Financial Inc.	6.625%	6/21/40	760	1,188
	Prudential Financial Inc.	6.200%	11/15/40	620	883
	Prudential Financial Inc.	5.100%	8/15/43	516	665
	Prudential Financial Inc.	4.600%	5/15/44	301	387
	Prudential Financial Inc.	3.905%	12/7/47	2,905	3,348
	Prudential Financial Inc.	4.418%	3/27/48	1,325	1,642
	Prudential Financial Inc.	3.935%	12/7/49	2,011	2,287
	Prudential Financial Inc.	4.350%	2/25/50	3,680	4,340
	Prudential Financial Inc.	3.700%	3/13/51	3,750	4,019
	Selective Insurance Group Inc.	5.375%	3/1/49	765	1,006
	Transatlantic Holdings Inc.	8.000%	11/30/39	693	1,161
	Travelers Cos. Inc.	6.750%	6/20/36	285	448
	Travelers Cos. Inc.	6.250%	6/15/37	1,345	2,056
	Travelers Cos. Inc.	5.350%	11/1/40	1,463	2,106
	Travelers Cos. Inc.	4.600%	8/1/43	1,363	1,792
	Travelers Cos. Inc.	4.300%	8/25/45	1,063	1,385
	Travelers Cos. Inc.	3.750%	5/15/46	2,093	2,506
	Travelers Cos. Inc.	4.000%	5/30/47	1,282	1,579
	Travelers Cos. Inc.	4.050%	3/7/48	1,875	2,319
	Travelers Cos. Inc.	4.100%	3/4/49	2,770	3,448
	Travelers Property Casualty Corp.	6.375%	3/15/33	325	483
	UnitedHealth Group Inc.	4.625%	7/15/35	2,286	2,867
	UnitedHealth Group Inc.	5.800%	3/15/36	2,757	3,857

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
UnitedHealth Group Inc.	6.500	%	6/15/37	2,080		3,046
UnitedHealth Group Inc.	6.625	%	11/15/37	1,700		2,586
UnitedHealth Group Inc.	6.875	%	2/15/38	1,631		2,559
UnitedHealth Group Inc.	3.500	%	8/15/39	5,062		5,588
UnitedHealth Group Inc.	5.700	%	10/15/40	1,609		2,262
UnitedHealth Group Inc.	5.950	%	2/15/41	693		1,021
UnitedHealth Group Inc.	4.625	%	11/15/41	1,673		2,083
UnitedHealth Group Inc.	4.375	%	3/15/42	1,273		1,581
UnitedHealth Group Inc.	3.950	%	10/15/42	278		315
UnitedHealth Group Inc.	4.250	%	3/15/43	1,973		2,366
UnitedHealth Group Inc.	4.750	%	7/15/45	4,007		5,175
UnitedHealth Group Inc.	4.200	%	1/15/47	2,035		2,438
UnitedHealth Group Inc.	4.250	%	4/15/47	2,020		2,410
UnitedHealth Group Inc.	3.750	%	10/15/47	2,255		2,553
UnitedHealth Group Inc.	4.250	%	6/15/48	3,465		4,162
UnitedHealth Group Inc.	4.450	%	12/15/48	2,688		3,353
UnitedHealth Group Inc.	3.700	%	8/15/49	3,190		3,568
UnitedHealth Group Inc.	3.875	%	8/15/59	2,490		2,841
Unum Group	5.750	%	8/15/42	1,800		2,236
Unum Group	4.500	%	12/15/49	1,490		1,594
Voya Financial Inc.	5.700	%	7/15/43	561		804
Voya Financial Inc.	4.800	%	6/15/46	807		1,045
Willis North America Inc.	5.050	%	9/15/48	1,370		1,811
Willis North America Inc.	3.875	%	9/15/49	2,400		2,566
WR Berkley Corp.	4.750	%	8/1/44	909		1,138
XLIT Ltd.	5.250	%	12/15/43	772		1,074
XLIT Ltd.	5.500	%	3/31/45	990		1,389
Real Estate Investment Trusts (1.1%)
Alexandria Real Estate Equities Inc.	4.700	%	7/1/30	2,075		2,514
Alexandria Real Estate Equities Inc.	3.375	%	8/15/31	2,773		3,046
Alexandria Real Estate Equities Inc.	4.850	%	4/15/49	395		527
Alexandria Real Estate Equities Inc.	4.000	%	2/1/50	1,250		1,507
AvalonBay Communities Inc.	3.900	%	10/15/46	1,320		1,569
AvalonBay Communities Inc.	4.150	%	7/1/47	583		727
Boston Properties LP	2.900	%	3/15/30	1,105		1,161
Camden Property Trust	3.350	%	11/1/49	1,010		1,119
Duke Realty LP	3.050	%	3/1/50	700		712
ERP Operating LP	4.500	%	7/1/44	2,072		2,660
ERP Operating LP	4.500	%	6/1/45	908		1,172
ERP Operating LP	4.000	%	8/1/47	458		556
Essex Portfolio LP	2.650	%	3/15/32	1,825		1,871
Essex Portfolio LP	4.500	%	3/15/48	130		165
Federal Realty Investment Trust	4.500	%	12/1/44	1,688		2,131
Healthpeak Properties Inc.	6.750	%	2/1/41	1,009		1,545
Kimco Realty Corp.	4.250	%	4/1/45	1,577		1,802
Kimco Realty Corp.	4.125	%	12/1/46	1,088		1,222
Kimco Realty Corp.	4.450	%	9/1/47	895		1,066
Kimco Realty Corp.	3.700	%	10/1/49	850		932
Mid-America Apartments LP	2.750	%	3/15/30	705		734
National Retail Properties Inc.	2.500	%	4/15/30	975		987
National Retail Properties Inc.	4.800	%	10/15/48	550		727
National Retail Properties Inc.	3.100	%	4/15/50	750		744
Prologis LP	2.250	%	4/15/30	2,500		2,503
Prologis LP	4.375	%	9/15/48	360		473
Realty Income Corp.	4.650	%	3/15/47	1,796		2,381
Regency Centers LP	4.400	%	2/1/47	900		1,128
Regency Centers LP	4.650	%	3/15/49	735		948
Simon Property Group LP	6.750	%	2/1/40	996		1,522
Simon Property Group LP	4.750	%	3/15/42	1,790		2,246
Simon Property Group LP	4.250	%	10/1/44	1,088		1,315
Simon Property Group LP	4.250	%	11/30/46	1,311		1,606
Simon Property Group LP	3.250	%	9/13/49	4,335		4,521
UDR Inc.	3.000	%	8/15/31	1,675		1,789

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	UDR Inc.	3.100	%	11/1/34	465		501
	Ventas Realty LP	5.700	%	9/30/43	514		697
	Ventas Realty LP	4.375	%	2/1/45	1,398		1,631
	Ventas Realty LP	4.875	%	4/15/49	600		763
	Welltower Inc.	6.500	%	3/15/41	969		1,407
	Welltower Inc.	4.950	%	9/1/48	1,240		1,607
							908,818
Industrial (69.0%)
	Basic Industry (3.8%)
	Albemarle Corp.	5.450	%	12/1/44	805		997
	ArcelorMittal	7.000	%	10/15/39	1,614		2,014
	ArcelorMittal	6.750	%	3/1/41	1,975		2,466
	Barrick Gold Corp.	6.450	%	10/15/35	894		1,237
	Barrick Gold Corp.	5.250	%	4/1/42	695		918
	Barrick North America Finance LLC	5.700	%	5/30/41	3,046		4,184
	Barrick North America Finance LLC	5.750	%	5/1/43	1,747		2,473
	Barrick PD Australia Finance Pty Ltd.	5.950	%	10/15/39	2,312		3,171
	BHP Billiton Finance USA Ltd.	4.125	%	2/24/42	2,360		2,848
	BHP Billiton Finance USA Ltd.	5.000	%	9/30/43	5,620		7,639
	Celulosa Arauco y Constitucion SA	5.500	%	11/2/47	1,150		1,254
	Dow Chemical Co.	4.250	%	10/1/34	1,978		2,285
	Dow Chemical Co.	9.400	%	5/15/39	1,859		3,228
	Dow Chemical Co.	5.250	%	11/15/41	2,286		2,778
	Dow Chemical Co.	4.375	%	11/15/42	3,704		4,091
	Dow Chemical Co.	4.625	%	10/1/44	830		962
	Dow Chemical Co.	5.550	%	11/30/48	2,250		2,855
	Dow Chemical Co.	4.800	%	5/15/49	1,980		2,321
	DuPont de Nemours Inc.	5.319	%	11/15/38	4,375		5,320
	DuPont de Nemours Inc.	5.419	%	11/15/48	5,410		6,807
	Eastman Chemical Co.	4.800	%	9/1/42	1,664		1,941
	Eastman Chemical Co.	4.650	%	10/15/44	2,543		2,853
	Ecolab Inc.	5.500	%	12/8/41	1,163		1,640
	Ecolab Inc.	3.950	%	12/1/47	1,927		2,347
	FMC Corp.	4.500	%	10/1/49	1,350		1,598
	Georgia-Pacific LLC	7.250	%	6/1/28	366		498
	Georgia-Pacific LLC	8.875	%	5/15/31	928		1,504
	International Flavors & Fragrances Inc.	4.375	%	6/1/47	435		484
	International Flavors & Fragrances Inc.	5.000	%	9/26/48	2,050		2,410
	International Paper Co.	5.000	%	9/15/35	2,146		2,650
	International Paper Co.	7.300	%	11/15/39	2,684		3,947
	International Paper Co.	6.000	%	11/15/41	1,005		1,325
	International Paper Co.	4.800	%	6/15/44	1,853		2,136
	International Paper Co.	5.150	%	5/15/46	1,840		2,247
	International Paper Co.	4.400	%	8/15/47	2,814		3,087
	International Paper Co.	4.350	%	8/15/48	962		1,063
	Lubrizol Corp.	6.500	%	10/1/34	658		981
	LYB International Finance BV	5.250	%	7/15/43	2,190		2,652
	LYB International Finance BV	4.875	%	3/15/44	2,460		2,913
	LYB International Finance III LLC	4.200	%	10/15/49	2,150		2,263
	LyondellBasell Industries NV	4.625	%	2/26/55	1,464		1,612
	Methanex Corp.	5.650	%	12/1/44	769		768
	Mosaic Co.	5.450	%	11/15/33	1,483		1,753
	Mosaic Co.	4.875	%	11/15/41	905		999
	Mosaic Co.	5.625	%	11/15/43	1,951		2,304
	Newmont Corp.	5.875	%	4/1/35	862		1,219
	Newmont Corp.	6.250	%	10/1/39	3,750		5,310
	Newmont Corp.	4.875	%	3/15/42	1,965		2,514
	Newmont Corp.	5.450	%	6/9/44	1,758		2,448
	Nucor Corp.	6.400	%	12/1/37	188		271
	Nucor Corp.	5.200	%	8/1/43	1,545		2,034
	Nucor Corp.	4.400	%	5/1/48	1,660		1,976
	Nutrien Ltd.	4.125	%	3/15/35	1,258		1,396

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Nutrien Ltd.	7.125	%	5/23/36	880		1,217
	Nutrien Ltd.	5.875	%	12/1/36	1,086		1,380
	Nutrien Ltd.	5.625	%	12/1/40	190		240
	Nutrien Ltd.	6.125	%	1/15/41	1,326		1,751
	Nutrien Ltd.	4.900	%	6/1/43	1,248		1,486
	Nutrien Ltd.	5.250	%	1/15/45	343		429
	Nutrien Ltd.	5.000	%	4/1/49	1,489		1,861
	Packaging Corp. of America	4.050	%	12/15/49	540		605
	Praxair Inc.	3.550	%	11/7/42	1,898		2,122
	Rio Tinto Alcan Inc.	7.250	%	3/15/31	1,118		1,631
	Rio Tinto Alcan Inc.	6.125	%	12/15/33	349		497
	Rio Tinto Alcan Inc.	5.750	%	6/1/35	970		1,325
	Rio Tinto Finance USA Ltd.	5.200	%	11/2/40	3,552		4,851
	Rio Tinto Finance USA plc	4.750	%	3/22/42	1,816		2,370
	Rio Tinto Finance USA plc	4.125	%	8/21/42	1,224		1,469
	RPM International Inc.	4.250	%	1/15/48	1,440		1,550
	Sherwin-Williams Co.	4.000	%	12/15/42	772		866
	Sherwin-Williams Co.	4.550	%	8/1/45	1,038		1,250
	Sherwin-Williams Co.	4.500	%	6/1/47	3,005		3,611
	Sherwin-Williams Co.	3.800	%	8/15/49	1,750		1,923
	Southern Copper Corp.	7.500	%	7/27/35	1,126		1,643
	Southern Copper Corp.	6.750	%	4/16/40	2,945		4,081
	Southern Copper Corp.	5.250	%	11/8/42	3,355		3,918
	Southern Copper Corp.	5.875	%	4/23/45	4,325		5,575
	Steel Dynamics Inc.	3.450	%	4/15/30	1,800		1,894
	Teck Resources Ltd.	6.125	%	10/1/35	1,500		1,739
	Teck Resources Ltd.	6.000	%	8/15/40	520		578
	Teck Resources Ltd.	6.250	%	7/15/41	2,700		3,074
	Teck Resources Ltd.	5.200	%	3/1/42	750		751
	Teck Resources Ltd.	5.400	%	2/1/43	1,100		1,122
	Vale Overseas Ltd.	8.250	%	1/17/34	1,808		2,531
	Vale Overseas Ltd.	6.875	%	11/21/36	4,058		5,321
	Vale Overseas Ltd.	6.875	%	11/10/39	3,132		4,162
	Vale SA	5.625	%	9/11/42	1,490		1,764
	Westlake Chemical Corp.	5.000	%	8/15/46	2,851		3,283
	Westlake Chemical Corp.	4.375	%	11/15/47	520		557
	WestRock MWV LLC	7.950	%	2/15/31	783		1,127
	Weyerhaeuser Co.	7.375	%	3/15/32	2,874		4,080
	Weyerhaeuser Co.	6.875	%	12/15/33	325		451
	WRKCO Inc.	4.200	%	6/1/32	1,875		2,164
	Capital Goods (5.1%)
	3M Co.	5.700	%	3/15/37	850		1,185
	3M Co.	3.875	%	6/15/44	990		1,135
	3M Co.	3.125	%	9/19/46	2,548		2,584
	3M Co.	3.625	%	10/15/47	717		789
	3M Co.	4.000	%	9/14/48	2,815		3,343
	3M Co.	3.250	%	8/26/49	1,725		1,818
2	ABB Finance USA Inc.	4.375	%	5/8/42	1,419		1,812
	Boeing Co.	6.125	%	2/15/33	741		1,015
	Boeing Co.	3.600	%	5/1/34	2,445		2,686
	Boeing Co.	3.250	%	2/1/35	2,500		2,663
	Boeing Co.	6.625	%	2/15/38	748		1,095
	Boeing Co.	3.550	%	3/1/38	620		680
	Boeing Co.	3.500	%	3/1/39	1,290		1,392
	Boeing Co.	6.875	%	3/15/39	1,225		1,823
	Boeing Co.	5.875	%	2/15/40	276		377
	Boeing Co.	3.375	%	6/15/46	803		823
	Boeing Co.	3.650	%	3/1/47	1,535		1,669
	Boeing Co.	3.625	%	3/1/48	1,300		1,386
	Boeing Co.	3.850	%	11/1/48	1,075		1,197
	Boeing Co.	3.900	%	5/1/49	1,200		1,350
	Boeing Co.	3.750	%	2/1/50	3,380		3,721
	Boeing Co.	3.825	%	3/1/59	1,675		1,805

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Boeing Co.	3.950	%	8/1/59	510		559
3	Carrier Global Corp.	3.377	%	4/5/40	500		513
3	Carrier Global Corp.	3.577	%	4/5/50	2,120		2,170
	Caterpillar Inc.	5.300	%	9/15/35	453		616
	Caterpillar Inc.	6.050	%	8/15/36	733		1,046
	Caterpillar Inc.	5.200	%	5/27/41	2,774		3,797
	Caterpillar Inc.	3.803	%	8/15/42	5,204		6,193
	Caterpillar Inc.	4.300	%	5/15/44	140		179
	Caterpillar Inc.	3.250	%	9/19/49	2,505		2,718
	Caterpillar Inc.	4.750	%	5/15/64	1,599		2,233
	Crane Co.	4.200	%	3/15/48	875		954
	Deere & Co.	7.125	%	3/3/31	378		553
	Deere & Co.	3.900	%	6/9/42	2,657		3,218
	Deere & Co.	2.875	%	9/7/49	1,200		1,238
	Dover Corp.	5.375	%	10/15/35	700		926
	Dover Corp.	5.375	%	3/1/41	826		1,095
	Eaton Corp.	4.000	%	11/2/32	2,898		3,457
	Eaton Corp.	4.150	%	11/2/42	1,295		1,596
	Eaton Corp.	3.915	%	9/15/47	1,346		1,592
	Emerson Electric Co.	5.250	%	11/15/39	310		416
	Fortive Corp.	4.300	%	6/15/46	538		624
	General Dynamics Corp.	3.600	%	11/15/42	1,082		1,315
	General Electric Co.	6.750	%	3/15/32	7,299		9,813
	General Electric Co.	6.150	%	8/7/37	2,244		2,963
	General Electric Co.	5.875	%	1/14/38	6,829		8,739
	General Electric Co.	6.875	%	1/10/39	5,192		7,271
	General Electric Co.	4.125	%	10/9/42	3,038		3,325
	General Electric Co.	4.500	%	3/11/44	1,988		2,292
	Honeywell International Inc.	5.700	%	3/15/36	1,263		1,817
	Honeywell International Inc.	5.700	%	3/15/37	178		260
	Honeywell International Inc.	5.375	%	3/1/41	1,016		1,467
	Honeywell International Inc.	3.812	%	11/21/47	1,760		2,196
	Illinois Tool Works Inc.	4.875	%	9/15/41	2,096		2,867
	Illinois Tool Works Inc.	3.900	%	9/1/42	2,721		3,365
	Ingersoll-Rand Global Holding Co. Ltd.	5.750	%	6/15/43	378		515
	Ingersoll-Rand Global Holding Co. Ltd.	4.300	%	2/21/48	750		887
	Ingersoll-Rand Luxembourg Finance SA	4.650	%	11/1/44	878		1,084
	Ingersoll-Rand Luxembourg Finance SA	4.500	%	3/21/49	750		926
	Johnson Controls International plc	6.000	%	1/15/36	795		1,050
	Johnson Controls International plc	4.625	%	7/2/44	3,112		3,717
	Johnson Controls International plc	4.500	%	2/15/47	1,181		1,448
	Johnson Controls International plc	4.950	%	7/2/64	1,296		1,578
	L3Harris Technologies Inc.	4.854	%	4/27/35	974		1,212
	L3Harris Technologies Inc.	6.150	%	12/15/40	948		1,364
	L3Harris Technologies Inc.	5.054	%	4/27/45	1,313		1,701
	Lockheed Martin Corp.	3.600	%	3/1/35	1,978		2,327
	Lockheed Martin Corp.	4.500	%	5/15/36	2,111		2,666
	Lockheed Martin Corp.	6.150	%	9/1/36	1,315		1,916
	Lockheed Martin Corp.	5.720	%	6/1/40	299		436
	Lockheed Martin Corp.	4.850	%	9/15/41	830		1,094
	Lockheed Martin Corp.	4.070	%	12/15/42	3,560		4,363
	Lockheed Martin Corp.	3.800	%	3/1/45	3,018		3,578
	Lockheed Martin Corp.	4.700	%	5/15/46	2,480		3,302
	Lockheed Martin Corp.	4.090	%	9/15/52	4,403		5,609
	Martin Marietta Materials Inc.	4.250	%	12/15/47	1,570		1,759
	Masco Corp.	6.500	%	8/15/32	140		182
	Masco Corp.	4.500	%	5/15/47	728		806
	Northrop Grumman Corp.	5.050	%	11/15/40	1,426		1,857
	Northrop Grumman Corp.	4.750	%	6/1/43	3,565		4,613
	Northrop Grumman Corp.	3.850	%	4/15/45	119		137
	Northrop Grumman Corp.	4.030	%	10/15/47	5,385		6,418
	Northrop Grumman Systems Corp.	7.750	%	2/15/31	352		527
	Oshkosh Corp.	3.100	%	3/1/30	500		515
3	Otis Worldwide Corp.	3.112	%	2/15/40	500		511

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
3	Otis Worldwide Corp.	3.362	%	2/15/50	1,000		1,035
	Owens Corning	7.000	%	12/1/36	682		915
	Owens Corning	4.300	%	7/15/47	1,633		1,750
	Owens Corning	4.400	%	1/30/48	1,168		1,243
	Parker-Hannifin Corp.	4.200	%	11/21/34	2,418		2,897
	Parker-Hannifin Corp.	6.250	%	5/15/38	1,165		1,661
	Parker-Hannifin Corp.	4.450	%	11/21/44	997		1,207
	Parker-Hannifin Corp.	4.100	%	3/1/47	1,920		2,236
	Parker-Hannifin Corp.	4.000	%	6/14/49	2,100		2,421
	Precision Castparts Corp.	3.900	%	1/15/43	492		595
	Precision Castparts Corp.	4.375	%	6/15/45	1,785		2,300
	Raytheon Co.	4.875	%	10/15/40	1,208		1,627
	Raytheon Co.	4.700	%	12/15/41	1,023		1,357
	Raytheon Co.	4.200	%	12/15/44	553		696
	Republic Services Inc.	2.300	%	3/1/30	1,505		1,511
	Republic Services Inc.	6.200	%	3/1/40	900		1,312
	Republic Services Inc.	5.700	%	5/15/41	515		719
	Republic Services Inc.	3.050	%	3/1/50	985		975
	Rockwell Automation Inc.	4.200	%	3/1/49	1,475		1,886
	Rockwell Collins Inc.	4.800	%	12/15/43	1,513		1,993
	Rockwell Collins Inc.	4.350	%	4/15/47	2,366		3,045
	Snap-on Inc.	4.100	%	3/1/48	305		374
	Sonoco Products Co.	5.750	%	11/1/40	1,493		1,977
	Stanley Black & Decker Inc.	2.300	%	3/15/30	1,825		1,849
	Stanley Black & Decker Inc.	5.200	%	9/1/40	640		846
	Stanley Black & Decker Inc.	4.850	%	11/15/48	1,950		2,614
	United Technologies Corp.	5.400	%	5/1/35	1,403		1,925
	United Technologies Corp.	6.050	%	6/1/36	1,528		2,201
	United Technologies Corp.	6.125	%	7/15/38	489		728
	United Technologies Corp.	4.450	%	11/16/38	3,705		4,583
	United Technologies Corp.	5.700	%	4/15/40	3,939		5,709
	United Technologies Corp.	4.500	%	6/1/42	8,655		11,061
	United Technologies Corp.	4.150	%	5/15/45	4,189		5,065
	United Technologies Corp.	3.750	%	11/1/46	2,035		2,351
	United Technologies Corp.	4.050	%	5/4/47	1,970		2,374
	United Technologies Corp.	4.625	%	11/16/48	2,755		3,699
	Valmont Industries Inc.	5.000	%	10/1/44	975		1,125
	Valmont Industries Inc.	5.250	%	10/1/54	954		1,077
	Vulcan Materials Co.	4.500	%	6/15/47	1,516		1,784
	Vulcan Materials Co.	4.700	%	3/1/48	1,315		1,618
	Waste Management Inc.	3.900	%	3/1/35	1,574		1,841
	Waste Management Inc.	4.000	%	7/15/39	685		820
	Waste Management Inc.	4.100	%	3/1/45	1,684		2,065
	Waste Management Inc.	4.150	%	7/15/49	3,575		4,461
	WW Grainger Inc.	4.600	%	6/15/45	1,656		2,085
	WW Grainger Inc.	3.750	%	5/15/46	915		1,024
	WW Grainger Inc.	4.200	%	5/15/47	1,902		2,277
	Xylem Inc.	4.375	%	11/1/46	959		1,160
	Communication (13.5%)
	Activision Blizzard Inc.	4.500	%	6/15/47	535		670
	America Movil SAB de CV	6.375	%	3/1/35	2,264		3,250
	America Movil SAB de CV	6.125	%	11/15/37	260		368
	America Movil SAB de CV	6.125	%	3/30/40	4,445		6,444
	America Movil SAB de CV	4.375	%	7/16/42	2,028		2,461
	America Movil SAB de CV	4.375	%	4/22/49	5,300		6,568
	American Tower Corp.	3.700	%	10/15/49	2,050		2,176
	AT&T Inc.	6.150	%	9/15/34	500		675
	AT&T Inc.	4.500	%	5/15/35	6,845		7,881
	AT&T Inc.	5.250	%	3/1/37	8,407		10,351
	AT&T Inc.	4.900	%	8/15/37	3,128		3,739
	AT&T Inc.	6.500	%	9/1/37	350		477
	AT&T Inc.	6.300	%	1/15/38	250		336
	AT&T Inc.	6.550	%	2/15/39	705		981

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
AT&T Inc.	4.850	%	3/1/39	4,150		4,952
AT&T Inc.	6.200	%	3/15/40	1,100		1,489
AT&T Inc.	6.350	%	3/15/40	2,228		3,039
AT&T Inc.	6.100	%	7/15/40	940		1,272
AT&T Inc.	6.000	%	8/15/40	3,041		4,064
AT&T Inc.	5.350	%	9/1/40	6,540		8,208
AT&T Inc.	6.375	%	3/1/41	560		756
AT&T Inc.	5.550	%	8/15/41	1,027		1,316
AT&T Inc.	5.375	%	10/15/41	2,680		3,330
AT&T Inc.	5.150	%	3/15/42	2,971		3,621
AT&T Inc.	4.900	%	6/15/42	3,308		3,929
AT&T Inc.	4.300	%	12/15/42	5,374		5,957
AT&T Inc.	5.350	%	12/15/43	2,769		3,437
AT&T Inc.	4.650	%	6/1/44	1,806		2,072
AT&T Inc.	4.800	%	6/15/44	6,883		8,077
AT&T Inc.	4.350	%	6/15/45	5,196		5,786
AT&T Inc.	4.850	%	7/15/45	1,435		1,684
AT&T Inc.	4.750	%	5/15/46	8,654		10,191
AT&T Inc.	5.150	%	11/15/46	3,411		4,215
AT&T Inc.	5.650	%	2/15/47	1,919		2,514
AT&T Inc.	5.450	%	3/1/47	6,904		8,886
AT&T Inc.	4.500	%	3/9/48	11,080		12,641
AT&T Inc.	4.550	%	3/9/49	5,562		6,436
AT&T Inc.	5.150	%	2/15/50	5,954		7,446
AT&T Inc.	5.700	%	3/1/57	3,525		4,752
AT&T Inc.	5.300	%	8/15/58	975		1,294
Bell Canada Inc.	4.300	%	7/29/49	3,815		4,602
British Telecommunications plc	9.625	%	12/15/30	5,799		9,183
Charter Communications Operating LLC / Charter Communications Operating Capital	6.384	%	10/23/35	5,554		7,324
Charter Communications Operating LLC / Charter Communications Operating Capital	5.375	%	4/1/38	2,450		2,822
Charter Communications Operating LLC / Charter Communications Operating Capital	6.484	%	10/23/45	8,303		10,678
Charter Communications Operating LLC / Charter Communications Operating Capital	5.375	%	5/1/47	5,006		5,746
Charter Communications Operating LLC / Charter Communications Operating Capital	5.750	%	4/1/48	6,880		8,208
Charter Communications Operating LLC / Charter Communications Operating Capital	5.125	%	7/1/49	3,550		3,949
Charter Communications Operating LLC / Charter Communications Operating Capital	4.800	%	3/1/50	6,560		7,068
Charter Communications Operating LLC / Charter Communications Operating Capital	6.834	%	10/23/55	1,705		2,285
Comcast Corp.	4.250	%	10/15/30	4,060		4,815
Comcast Corp.	4.250	%	1/15/33	3,645		4,361
Comcast Corp.	7.050	%	3/15/33	2,595		3,908
Comcast Corp.	4.200	%	8/15/34	3,755		4,553
Comcast Corp.	5.650	%	6/15/35	2,515		3,475
Comcast Corp.	4.400	%	8/15/35	2,913		3,576
Comcast Corp.	6.500	%	11/15/35	3,028		4,566
Comcast Corp.	3.200	%	7/15/36	1,291		1,388
Comcast Corp.	6.450	%	3/15/37	2,430		3,585
Comcast Corp.	6.950	%	8/15/37	647		1,005
Comcast Corp.	3.900	%	3/1/38	2,590		3,011
Comcast Corp.	6.400	%	5/15/38	1,418		2,080
Comcast Corp.	4.600	%	10/15/38	9,014		11,342
Comcast Corp.	3.250	%	11/1/39	4,150		4,495
Comcast Corp.	6.400	%	3/1/40	1,660		2,478
Comcast Corp.	4.650	%	7/15/42	2,709		3,431
Comcast Corp.	4.500	%	1/15/43	918		1,159
Comcast Corp.	4.750	%	3/1/44	2,991		3,930
Comcast Corp.	4.600	%	8/15/45	2,121		2,714
Comcast Corp.	3.400	%	7/15/46	4,386		4,757

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Comcast Corp.	4.000	%	8/15/47	1,480		1,750
	Comcast Corp.	3.969	%	11/1/47	3,790		4,466
	Comcast Corp.	4.000	%	3/1/48	2,666		3,152
	Comcast Corp.	4.700	%	10/15/48	9,186		12,061
	Comcast Corp.	3.999	%	11/1/49	3,148		3,698
	Comcast Corp.	3.450	%	2/1/50	5,495		6,043
	Comcast Corp.	4.049	%	11/1/52	4,865		5,841
	Comcast Corp.	4.950	%	10/15/58	7,295		9,984
	Crown Castle International Corp.	4.750	%	5/15/47	1,600		2,021
	Crown Castle International Corp.	5.200	%	2/15/49	1,840		2,367
	Deutsche Telekom International Finance BV	8.750	%	6/15/30	9,650		14,685
	Discovery Communications LLC	5.000	%	9/20/37	3,462		3,954
	Discovery Communications LLC	6.350	%	6/1/40	2,235		2,966
	Discovery Communications LLC	4.950	%	5/15/42	2,069		2,390
	Discovery Communications LLC	4.875	%	4/1/43	2,100		2,369
	Discovery Communications LLC	5.200	%	9/20/47	2,860		3,373
	Discovery Communications LLC	5.300	%	5/15/49	1,707		2,062
3	Fox Corp.	5.476	%	1/25/39	4,150		5,330
3	Fox Corp.	5.576	%	1/25/49	3,600		4,829
	Grupo Televisa SAB	6.625	%	1/15/40	1,518		2,071
	Grupo Televisa SAB	5.000	%	5/13/45	1,898		2,209
	Grupo Televisa SAB	6.125	%	1/31/46	1,825		2,445
	Grupo Televisa SAB	5.250	%	5/24/49	3,400		4,244
	Interpublic Group of Cos. Inc.	5.400	%	10/1/48	2,106		2,813
	Koninklijke KPN NV	8.375	%	10/1/30	920		1,290
	Moody's Corp.	5.250	%	7/15/44	1,555		2,126
	Moody's Corp.	4.875	%	12/17/48	505		658
	NBCUniversal Media LLC	6.400	%	4/30/40	1,808		2,700
	NBCUniversal Media LLC	5.950	%	4/1/41	3,716		5,448
	NBCUniversal Media LLC	4.450	%	1/15/43	2,716		3,369
	Omnicom Group Inc.	2.450	%	4/30/30	1,000		1,007
	Orange SA	9.000	%	3/1/31	7,471		11,925
	Orange SA	5.375	%	1/13/42	3,592		4,988
	Rogers Communications Inc.	7.500	%	8/15/38	1,095		1,723
	Rogers Communications Inc.	4.500	%	3/15/43	2,576		3,058
	Rogers Communications Inc.	5.000	%	3/15/44	1,295		1,657
	Rogers Communications Inc.	4.300	%	2/15/48	105		124
	Rogers Communications Inc.	4.350	%	5/1/49	5,289		6,310
	Rogers Communications Inc.	3.700	%	11/15/49	1,630		1,781
	S&P Global Inc.	4.500	%	5/15/48	1,625		2,131
	S&P Global Inc.	3.250	%	12/1/49	1,900		2,062
	Telefonica Emisiones SAU	7.045	%	6/20/36	4,063		5,853
	Telefonica Emisiones SAU	4.665	%	3/6/38	3,199		3,722
	Telefonica Emisiones SAU	5.213	%	3/8/47	6,846		8,444
	Telefonica Emisiones SAU	4.895	%	3/6/48	2,960		3,522
	Telefonica Emisiones SAU	5.520	%	3/1/49	3,860		5,004
	Telefonica Europe BV	8.250	%	9/15/30	1,857		2,758
	TELUS Corp.	4.600	%	11/16/48	1,447		1,842
	TELUS Corp.	4.300	%	6/15/49	1,450		1,749
	Thomson Reuters Corp.	5.500	%	8/15/35	900		1,105
	Thomson Reuters Corp.	5.850	%	4/15/40	685		879
	Thomson Reuters Corp.	5.650	%	11/23/43	1,092		1,429
	Time Warner Cable LLC	6.550	%	5/1/37	2,203		2,851
	Time Warner Cable LLC	7.300	%	7/1/38	4,721		6,410
	Time Warner Cable LLC	6.750	%	6/15/39	2,699		3,498
	Time Warner Cable LLC	5.875	%	11/15/40	3,148		3,859
	Time Warner Cable LLC	5.500	%	9/1/41	2,933		3,439
	Time Warner Cable LLC	4.500	%	9/15/42	3,885		4,045
	Time Warner Entertainment Co. LP	8.375	%	7/15/33	3,278		4,840
	Verizon Communications Inc.	4.500	%	8/10/33	8,690		10,609
	Verizon Communications Inc.	6.400	%	9/15/33	300		431
	Verizon Communications Inc.	4.400	%	11/1/34	8,143		9,842
	Verizon Communications Inc.	4.272	%	1/15/36	8,777		10,496
	Verizon Communications Inc.	5.250	%	3/16/37	7,316		9,729

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
Verizon Communications Inc.	4.812	%	3/15/39	4,062		5,180
Verizon Communications Inc.	4.750	%	11/1/41	2,570		3,298
Verizon Communications Inc.	3.850	%	11/1/42	3,561		4,082
Verizon Communications Inc.	4.125	%	8/15/46	3,950		4,767
Verizon Communications Inc.	4.862	%	8/21/46	11,565		15,380
Verizon Communications Inc.	4.522	%	9/15/48	9,922		12,790
Verizon Communications Inc.	5.012	%	4/15/49	6,466		8,905
Verizon Communications Inc.	5.012	%	8/21/54	250		350
Verizon Communications Inc.	4.672	%	3/15/55	6,980		9,333
ViacomCBS Inc.	5.250	%	4/1/44	200		239
ViacomCBS Inc.	7.875	%	7/30/30	1,294		1,876
ViacomCBS Inc.	5.500	%	5/15/33	276		350
ViacomCBS Inc.	6.875	%	4/30/36	2,583		3,585
ViacomCBS Inc.	5.900	%	10/15/40	827		1,033
ViacomCBS Inc.	4.850	%	7/1/42	1,093		1,245
ViacomCBS Inc.	4.375	%	3/15/43	4,483		4,767
ViacomCBS Inc.	5.850	%	9/1/43	2,905		3,664
ViacomCBS Inc.	4.900	%	8/15/44	2,032		2,352
ViacomCBS Inc.	4.600	%	1/15/45	1,855		2,066
Vodafone Group plc	6.250	%	11/30/32	149		201
Vodafone Group plc	6.150	%	2/27/37	2,470		3,352
Vodafone Group plc	5.000	%	5/30/38	5,053		6,088
Vodafone Group plc	4.375	%	2/19/43	4,605		5,152
Vodafone Group plc	5.250	%	5/30/48	7,825		9,882
Vodafone Group plc	4.875	%	6/19/49	4,348		5,219
Vodafone Group plc	4.250	%	9/17/50	5,901		6,492
Vodafone Group plc	5.125	%	6/19/59	100		129
Walt Disney Co.	7.000	%	3/1/32	2,055		3,090
Walt Disney Co.	6.550	%	3/15/33	1,191		1,758
Walt Disney Co.	6.200	%	12/15/34	2,985		4,400
Walt Disney Co.	6.400	%	12/15/35	2,247		3,365
Walt Disney Co.	6.150	%	3/1/37	2,637		3,879
Walt Disney Co.	6.650	%	11/15/37	1,130		1,756
Walt Disney Co.	6.150	%	2/15/41	200		307
Walt Disney Co.	4.375	%	8/16/41	1,816		2,313
Walt Disney Co.	4.125	%	12/1/41	2,306		2,814
Walt Disney Co.	3.700	%	12/1/42	2,790		3,224
Walt Disney Co.	5.400	%	10/1/43	1,986		2,845
Walt Disney Co.	4.125	%	6/1/44	1,898		2,352
Walt Disney Co.	4.750	%	9/15/44	2,410		3,237
Walt Disney Co.	4.950	%	10/15/45	800		1,085
Walt Disney Co.	3.000	%	7/30/46	1,180		1,238
Walt Disney Co.	4.750	%	11/15/46	734		995
Walt Disney Co.	2.750	%	9/1/49	4,720		4,756
Consumer Cyclical (5.8%)
Alibaba Group Holding Ltd.	4.500	%	11/28/34	1,161		1,416
Alibaba Group Holding Ltd.	4.000	%	12/6/37	2,760		3,174
Alibaba Group Holding Ltd.	4.200	%	12/6/47	4,345		5,209
Alibaba Group Holding Ltd.	4.400	%	12/6/57	2,450		3,120
Amazon.com Inc.	4.800	%	12/5/34	3,177		4,207
Amazon.com Inc.	3.875	%	8/22/37	7,671		9,211
Amazon.com Inc.	4.950	%	12/5/44	2,319		3,247
Amazon.com Inc.	4.050	%	8/22/47	6,835		8,733
Amazon.com Inc.	4.250	%	8/22/57	7,357		9,862
Aptiv plc	4.400	%	10/1/46	655		693
Aptiv plc	5.400	%	3/15/49	1,000		1,193
BorgWarner Inc.	4.375	%	3/15/45	1,258		1,370
Cummins Inc.	4.875	%	10/1/43	528		701
Daimler Finance North America LLC	8.500	%	1/18/31	3,496		5,314
Darden Restaurants Inc.	4.550	%	2/15/48	700		751
eBay Inc.	4.000	%	7/15/42	1,807		1,826
Ford Motor Co.	7.450	%	7/16/31	3,670		4,152
Ford Motor Co.	4.750	%	1/15/43	3,874		3,407

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
Ford Motor Co.	7.400	%	11/1/46	2,168		2,471
Ford Motor Co.	5.291	%	12/8/46	2,562		2,335
General Motors Co.	5.000	%	4/1/35	1,456		1,570
General Motors Co.	6.600	%	4/1/36	3,422		4,082
General Motors Co.	5.150	%	4/1/38	3,000		3,109
General Motors Co.	6.250	%	10/2/43	5,622		6,309
General Motors Co.	5.200	%	4/1/45	1,063		1,055
General Motors Co.	6.750	%	4/1/46	3,070		3,584
General Motors Co.	5.400	%	4/1/48	2,784		2,811
General Motors Co.	5.950	%	4/1/49	1,973		2,143
Harley-Davidson Inc.	4.625	%	7/28/45	788		887
Home Depot Inc.	5.875	%	12/16/36	7,236		10,394
Home Depot Inc.	5.400	%	9/15/40	2,230		3,103
Home Depot Inc.	5.950	%	4/1/41	3,210		4,696
Home Depot Inc.	4.200	%	4/1/43	1,956		2,383
Home Depot Inc.	4.875	%	2/15/44	2,306		3,066
Home Depot Inc.	4.400	%	3/15/45	1,798		2,269
Home Depot Inc.	4.250	%	4/1/46	4,479		5,561
Home Depot Inc.	3.900	%	6/15/47	2,393		2,859
Home Depot Inc.	4.500	%	12/6/48	4,579		5,986
Home Depot Inc.	3.125	%	12/15/49	3,160		3,357
Home Depot Inc.	3.500	%	9/15/56	2,152		2,392
JD.com Inc.	4.125	%	1/14/50	700		730
Kohl's Corp.	5.550	%	7/17/45	1,035		1,108
Lear Corp.	3.500	%	5/30/30	1,000		998
Lear Corp.	5.250	%	5/15/49	1,495		1,566
Lowe's Cos. Inc.	4.650	%	4/15/42	2,835		3,504
Lowe's Cos. Inc.	4.250	%	9/15/44	968		1,103
Lowe's Cos. Inc.	4.375	%	9/15/45	1,681		1,967
Lowe's Cos. Inc.	3.700	%	4/15/46	3,253		3,473
Lowe's Cos. Inc.	4.050	%	5/3/47	3,078		3,467
Lowe's Cos. Inc.	4.550	%	4/5/49	3,950		4,823
Macy's Retail Holdings Inc.	4.500	%	12/15/34	780		711
Mastercard Inc.	3.800	%	11/21/46	2,279		2,753
Mastercard Inc.	3.950	%	2/26/48	1,540		1,920
Mastercard Inc.	3.650	%	6/1/49	2,484		3,001
McDonald's Corp.	4.700	%	12/9/35	2,185		2,748
McDonald's Corp.	6.300	%	10/15/37	2,230		3,155
McDonald's Corp.	6.300	%	3/1/38	1,705		2,434
McDonald's Corp.	5.700	%	2/1/39	1,180		1,604
McDonald's Corp.	4.875	%	7/15/40	780		976
McDonald's Corp.	3.700	%	2/15/42	1,752		1,927
McDonald's Corp.	3.625	%	5/1/43	1,724		1,863
McDonald's Corp.	4.600	%	5/26/45	1,059		1,310
McDonald's Corp.	4.875	%	12/9/45	4,305		5,471
McDonald's Corp.	4.450	%	3/1/47	3,221		3,906
McDonald's Corp.	4.450	%	9/1/48	1,160		1,431
McDonald's Corp.	3.625	%	9/1/49	1,270		1,369
NIKE Inc.	3.625	%	5/1/43	1,566		1,813
NIKE Inc.	3.875	%	11/1/45	2,856		3,500
NIKE Inc.	3.375	%	11/1/46	1,230		1,422
Nordstrom Inc.	4.375	%	4/1/30	1,200		1,264
Nordstrom Inc.	5.000	%	1/15/44	2,400		2,335
QVC Inc.	5.450	%	8/15/34	975		960
Starbucks Corp.	4.300	%	6/15/45	1,830		2,148
Starbucks Corp.	3.750	%	12/1/47	195		213
Starbucks Corp.	4.500	%	11/15/48	3,395		4,066
Starbucks Corp.	4.450	%	8/15/49	1,825		2,196
Target Corp.	6.350	%	11/1/32	219		320
Target Corp.	6.500	%	10/15/37	1,057		1,654
Target Corp.	7.000	%	1/15/38	1,850		3,038
Target Corp.	4.000	%	7/1/42	3,867		4,616
Target Corp.	3.625	%	4/15/46	2,735		3,160
Target Corp.	3.900	%	11/15/47	1,674		2,034

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Visa Inc.	4.150	%	12/14/35	3,944		4,885
	Visa Inc.	4.300	%	12/14/45	9,339		12,158
	Visa Inc.	3.650	%	9/15/47	704		840
	Walgreen Co.	4.400	%	9/15/42	1,355		1,410
	Walgreens Boots Alliance Inc.	4.500	%	11/18/34	826		908
	Walgreens Boots Alliance Inc.	4.800	%	11/18/44	3,151		3,313
	Walgreens Boots Alliance Inc.	4.650	%	6/1/46	1,742		1,834
	Walmart Inc.	5.250	%	9/1/35	4,809		6,659
	Walmart Inc.	6.200	%	4/15/38	2,115		3,252
	Walmart Inc.	3.950	%	6/28/38	5,379		6,546
	Walmart Inc.	5.625	%	4/1/40	2,082		3,104
	Walmart Inc.	4.875	%	7/8/40	1,075		1,479
	Walmart Inc.	5.000	%	10/25/40	1,862		2,599
	Walmart Inc.	5.625	%	4/15/41	1,961		2,954
	Walmart Inc.	4.000	%	4/11/43	3,774		4,641
	Walmart Inc.	4.300	%	4/22/44	1,740		2,201
	Walmart Inc.	3.625	%	12/15/47	2,132		2,532
	Walmart Inc.	4.050	%	6/29/48	6,988		8,791
	Walmart Inc.	2.950	%	9/24/49	3,550		3,793
	Western Union Co.	6.200	%	11/17/36	1,452		1,756
	Consumer Noncyclical (19.0%)
	Abbott Laboratories	4.750	%	11/30/36	5,710		7,431
	Abbott Laboratories	6.150	%	11/30/37	774		1,182
	Abbott Laboratories	6.000	%	4/1/39	354		543
	Abbott Laboratories	5.300	%	5/27/40	1,903		2,739
	Abbott Laboratories	4.750	%	4/15/43	2,016		2,679
	Abbott Laboratories	4.900	%	11/30/46	7,335		10,228
	AbbVie Inc.	4.500	%	5/14/35	6,753		8,006
	AbbVie Inc.	4.300	%	5/14/36	1,782		2,073
3	AbbVie Inc.	4.050	%	11/21/39	9,375		10,326
	AbbVie Inc.	4.400	%	11/6/42	7,587		8,774
	AbbVie Inc.	4.700	%	5/14/45	10,156		11,980
	AbbVie Inc.	4.450	%	5/14/46	5,741		6,584
	AbbVie Inc.	4.875	%	11/14/48	7,044		8,719
3	AbbVie Inc.	4.250	%	11/21/49	7,050		7,985
	Adventist Health System	3.630	%	3/1/49	725		809
	Advocate Health & Hospitals Corp.	4.272	%	8/15/48	810		1,044
	Advocate Health & Hospitals Corp.	3.387	%	10/15/49	950		1,079
	AHS Hospital Corp.	5.024	%	7/1/45	763		1,033
	Allergan Finance LLC	4.625	%	10/1/42	2,375		2,807
	Allergan Funding SCS	4.550	%	3/15/35	3,225		3,810
	Allergan Funding SCS	4.850	%	6/15/44	2,541		3,104
	Allergan Funding SCS	4.750	%	3/15/45	1,480		1,781
	Allina Health System	3.887	%	4/15/49	900		1,049
	Altria Group Inc.	5.800	%	2/14/39	6,445		7,919
	Altria Group Inc.	4.250	%	8/9/42	1,307		1,331
	Altria Group Inc.	4.500	%	5/2/43	3,385		3,535
	Altria Group Inc.	5.375	%	1/31/44	3,005		3,544
	Altria Group Inc.	3.875	%	9/16/46	2,610		2,542
	Altria Group Inc.	5.950	%	2/14/49	3,850		4,889
	Altria Group Inc.	6.200	%	2/14/59	3,330		4,239
	AmerisourceBergen Corp.	4.250	%	3/1/45	1,350		1,549
	AmerisourceBergen Corp.	4.300	%	12/15/47	748		851
	Amgen Inc.	6.400	%	2/1/39	2,325		3,437
	Amgen Inc.	3.150	%	2/21/40	2,655		2,737
	Amgen Inc.	4.950	%	10/1/41	558		711
	Amgen Inc.	5.150	%	11/15/41	3,095		4,082
	Amgen Inc.	5.650	%	6/15/42	900		1,230
	Amgen Inc.	4.400	%	5/1/45	5,511		6,444
	Amgen Inc.	4.563	%	6/15/48	4,735		5,727
	Amgen Inc.	3.375	%	2/21/50	3,100		3,186
	Amgen Inc.	4.663	%	6/15/51	8,228		10,275

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.	4.900	%	2/1/46	24,473		30,119
	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.	4.700	%	2/1/36	13,290		15,867
	Anheuser-Busch InBev Finance Inc.	4.700	%	2/1/36	3,213		3,838
	Anheuser-Busch InBev Finance Inc.	4.000	%	1/17/43	2,835		3,052
	Anheuser-Busch InBev Finance Inc.	4.625	%	2/1/44	2,041		2,452
	Anheuser-Busch InBev Finance Inc.	4.900	%	2/1/46	5,550		6,797
	Anheuser-Busch InBev Worldwide Inc.	4.900	%	1/23/31	3,075		3,726
	Anheuser-Busch InBev Worldwide Inc.	5.875	%	6/15/35	850		1,075
	Anheuser-Busch InBev Worldwide Inc.	4.375	%	4/15/38	4,070		4,698
	Anheuser-Busch InBev Worldwide Inc.	8.200	%	1/15/39	2,510		4,148
	Anheuser-Busch InBev Worldwide Inc.	5.450	%	1/23/39	2,765		3,592
	Anheuser-Busch InBev Worldwide Inc.	8.000	%	11/15/39	863		1,412
	Anheuser-Busch InBev Worldwide Inc.	4.950	%	1/15/42	5,260		6,568
	Anheuser-Busch InBev Worldwide Inc.	3.750	%	7/15/42	3,049		3,339
	Anheuser-Busch InBev Worldwide Inc.	4.600	%	4/15/48	4,275		5,109
	Anheuser-Busch InBev Worldwide Inc.	4.439	%	10/6/48	4,413		5,137
	Anheuser-Busch InBev Worldwide Inc.	5.550	%	1/23/49	7,545		10,205
	Anheuser-Busch InBev Worldwide Inc.	4.750	%	4/15/58	4,740		5,725
	Anheuser-Busch InBev Worldwide Inc.	5.800	%	1/23/59	4,750		6,679
	Archer-Daniels-Midland Co.	5.935	%	10/1/32	1,080		1,485
	Archer-Daniels-Midland Co.	5.375	%	9/15/35	1,080		1,448
	Archer-Daniels-Midland Co.	4.535	%	3/26/42	1,396		1,773
	Archer-Daniels-Midland Co.	4.016	%	4/16/43	1,772		2,140
	Archer-Daniels-Midland Co.	3.750	%	9/15/47	1,135		1,332
	Archer-Daniels-Midland Co.	4.500	%	3/15/49	1,263		1,706
	Ascension Health	3.106	%	11/15/39	1,300		1,432
	Ascension Health	3.945	%	11/15/46	1,648		2,038
1	Ascension Health	4.847	%	11/15/53	1,138		1,636
	AstraZeneca plc	6.450	%	9/15/37	6,848		10,268
	AstraZeneca plc	4.000	%	9/18/42	2,556		3,042
	AstraZeneca plc	4.375	%	11/16/45	2,464		3,130
	AstraZeneca plc	4.375	%	8/17/48	2,117		2,720
	BAT Capital Corp.	4.390	%	8/15/37	6,485		6,834
	BAT Capital Corp.	4.540	%	8/15/47	6,383		6,583
	BAT Capital Corp.	4.758	%	9/6/49	2,245		2,418
	Baxalta Inc.	5.250	%	6/23/45	1,166		1,634
	Baxter International Inc.	3.500	%	8/15/46	1,098		1,155
	Baylor Scott & White Holdings	4.185	%	11/15/45	1,706		2,183
	Baylor Scott & White Holdings	3.967	%	11/15/46	350		436
	Becton Dickinson & Co.	4.685	%	12/15/44	2,498		3,116
	Becton Dickinson & Co.	4.669	%	6/6/47	4,194		5,321
	Biogen Inc.	5.200	%	9/15/45	4,269		5,509
	Boston Scientific Corp.	4.550	%	3/1/39	2,661		3,295
	Boston Scientific Corp.	7.375	%	1/15/40	855		1,419
	Boston Scientific Corp.	4.700	%	3/1/49	3,470		4,527
3	Bristol-Myers Squibb Co.	4.125	%	6/15/39	5,477		6,681
	Bristol-Myers Squibb Co.	3.250	%	8/1/42	1,700		1,901
3	Bristol-Myers Squibb Co.	5.250	%	8/15/43	1,570		2,238
	Bristol-Myers Squibb Co.	4.500	%	3/1/44	1,148		1,522
3	Bristol-Myers Squibb Co.	4.625	%	5/15/44	2,094		2,784
3	Bristol-Myers Squibb Co.	5.000	%	8/15/45	5,445		7,432
3	Bristol-Myers Squibb Co.	4.350	%	11/15/47	4,410		5,626
3	Bristol-Myers Squibb Co.	4.550	%	2/20/48	4,450		5,854
3	Bristol-Myers Squibb Co.	4.250	%	10/26/49	6,911		8,888
	Brown-Forman Corp.	4.000	%	4/15/38	700		837
	Brown-Forman Corp.	4.500	%	7/15/45	1,151		1,556
	Campbell Soup Co.	4.800	%	3/15/48	1,626		1,986
	Cardinal Health Inc.	4.600	%	3/15/43	1,877		2,089
	Cardinal Health Inc.	4.500	%	11/15/44	192		204
	Cardinal Health Inc.	4.900	%	9/15/45	675		767
	Cardinal Health Inc.	4.368	%	6/15/47	936		1,011
	Children's Hospital Corp.	4.115	%	1/1/47	685		868

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Children's Hospital Medical Center	4.268	%	5/15/44	760		941
	Church & Dwight Co. Inc.	3.950	%	8/1/47	1,013		1,176
	Cigna Corp.	4.800	%	8/15/38	5,240		6,308
3	Cigna Corp.	6.125	%	11/15/41	1,658		2,310
3	Cigna Corp.	4.800	%	7/15/46	5,612		6,671
3	Cigna Corp.	3.875	%	10/15/47	2,645		2,859
	Cigna Corp.	4.900	%	12/15/48	4,700		5,829
	City of Hope	4.378	%	8/15/48	1,270		1,629
	Cleveland Clinic Foundation	4.858	%	1/1/14	913		1,350
	Coca-Cola Femsa SAB de CV	5.250	%	11/26/43	1,200		1,614
	Colgate-Palmolive Co.	4.000	%	8/15/45	1,076		1,387
	Colgate-Palmolive Co.	3.700	%	8/1/47	1,595		1,997
1	CommonSpirit Health	4.350	%	11/1/42	1,604		1,846
	CommonSpirit Health	3.817	%	10/1/49	1,020		1,102
	CommonSpirit Health	4.187	%	10/1/49	3,125		3,432
	Conagra Brands Inc.	8.250	%	9/15/30	493		718
	Conagra Brands Inc.	5.300	%	11/1/38	2,388		2,910
	Conagra Brands Inc.	5.400	%	11/1/48	2,700		3,417
	Constellation Brands Inc.	4.500	%	5/9/47	1,970		2,315
	Constellation Brands Inc.	4.100	%	2/15/48	606		673
	Constellation Brands Inc.	5.250	%	11/15/48	1,630		2,123
	Cottage Health Obligated Group	3.304	%	11/1/49	1,300		1,406
	CVS Health Corp.	4.875	%	7/20/35	1,060		1,284
	CVS Health Corp.	4.780	%	3/25/38	12,898		15,203
	CVS Health Corp.	6.125	%	9/15/39	1,120		1,497
	CVS Health Corp.	5.300	%	12/5/43	4,028		5,202
	CVS Health Corp.	5.125	%	7/20/45	8,824		10,802
	CVS Health Corp.	5.050	%	3/25/48	19,295		23,654
	Danaher Corp.	4.375	%	9/15/45	872		1,088
	Dartmouth-Hitchcock Health	4.178	%	8/1/48	625		780
	Delhaize America LLC	9.000	%	4/15/31	470		723
	DH Europe Finance II Sarl	3.250	%	11/15/39	2,500		2,685
	DH Europe Finance II Sarl	3.400	%	11/15/49	1,505		1,660
	Diageo Capital plc	5.875	%	9/30/36	1,331		1,908
	Diageo Capital plc	3.875	%	4/29/43	533		656
	Diageo Investment Corp.	7.450	%	4/15/35	987		1,589
	Diageo Investment Corp.	4.250	%	5/11/42	816		1,003
	Dignity Health	4.500	%	11/1/42	950		1,114
	Dignity Health	5.267	%	11/1/64	513		680
	Duke University Health System Inc.	3.920	%	6/1/47	1,368		1,727
	Eli Lilly & Co.	3.950	%	3/15/49	5,063		6,232
	Eli Lilly & Co.	4.150	%	3/15/59	3,050		3,834
	Estee Lauder Cos. Inc.	6.000	%	5/15/37	500		720
	Estee Lauder Cos. Inc.	4.375	%	6/15/45	1,153		1,462
	Estee Lauder Cos. Inc.	4.150	%	3/15/47	1,633		2,056
	Estee Lauder Cos. Inc.	3.125	%	12/1/49	1,575		1,682
	Fomento Economico Mexicano SAB de CV	4.375	%	5/10/43	1,313		1,591
	Fomento Economico Mexicano SAB de CV	3.500	%	1/16/50	5,000		5,256
	General Mills Inc.	4.550	%	4/17/38	2,540		3,017
	General Mills Inc.	5.400	%	6/15/40	1,233		1,618
	General Mills Inc.	4.150	%	2/15/43	1,526		1,725
	General Mills Inc.	4.700	%	4/17/48	680		849
	Gilead Sciences Inc.	4.600	%	9/1/35	3,601		4,499
	Gilead Sciences Inc.	4.000	%	9/1/36	2,266		2,679
	Gilead Sciences Inc.	5.650	%	12/1/41	2,734		3,856
	Gilead Sciences Inc.	4.800	%	4/1/44	4,241		5,419
	Gilead Sciences Inc.	4.500	%	2/1/45	4,214		5,166
	Gilead Sciences Inc.	4.750	%	3/1/46	5,673		7,297
	Gilead Sciences Inc.	4.150	%	3/1/47	3,286		3,953
	GlaxoSmithKline Capital Inc.	5.375	%	4/15/34	751		1,047
	GlaxoSmithKline Capital Inc.	6.375	%	5/15/38	7,332		11,063
	GlaxoSmithKline Capital Inc.	4.200	%	3/18/43	1,012		1,277
	Hackensack Meridian Health Inc.	4.211	%	7/1/48	925		1,141
	Hackensack Meridian Health Inc.	4.500	%	7/1/57	323		435

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
1	Hartford HealthCare Corp.	3.447	%	7/1/54	1,000		1,062
	Hasbro Inc.	6.350	%	3/15/40	1,213		1,491
	Hasbro Inc.	5.100	%	5/15/44	643		686
	HCA Inc.	5.125	%	6/15/39	3,117		3,585
	HCA Inc.	5.500	%	6/15/47	3,869		4,594
	HCA Inc.	5.250	%	6/15/49	5,045		5,877
	Hershey Co.	3.375	%	8/15/46	872		969
	Hershey Co.	3.125	%	11/15/49	2,025		2,166
	Indiana University Health Inc. Obligated Group	3.970	%	11/1/48	850		1,070
	JM Smucker Co.	4.250	%	3/15/35	2,020		2,320
	JM Smucker Co.	4.375	%	3/15/45	248		281
	Johns Hopkins Health System Corp.	3.837	%	5/15/46	1,738		2,138
	Johnson & Johnson	4.950	%	5/15/33	873		1,178
	Johnson & Johnson	4.375	%	12/5/33	2,925		3,680
	Johnson & Johnson	3.550	%	3/1/36	3,264		3,834
	Johnson & Johnson	3.625	%	3/3/37	4,328		5,024
	Johnson & Johnson	5.950	%	8/15/37	2,313		3,570
	Johnson & Johnson	3.400	%	1/15/38	1,998		2,273
	Johnson & Johnson	5.850	%	7/15/38	1,456		2,211
	Johnson & Johnson	4.500	%	9/1/40	2,242		2,927
	Johnson & Johnson	4.850	%	5/15/41	1,000		1,404
	Johnson & Johnson	4.500	%	12/5/43	1,325		1,767
	Johnson & Johnson	3.700	%	3/1/46	5,160		6,227
	Johnson & Johnson	3.750	%	3/3/47	2,880		3,495
	Johnson & Johnson	3.500	%	1/15/48	349		416
	Kaiser Foundation Hospitals	4.875	%	4/1/42	1,800		2,452
	Kaiser Foundation Hospitals	4.150	%	5/1/47	1,745		2,235
	Kaiser Foundation Hospitals	3.266	%	11/1/49	3,976		4,406
	Kellogg Co.	7.450	%	4/1/31	1,107		1,618
	Kellogg Co.	4.500	%	4/1/46	1,580		1,852
	Keurig Dr Pepper Inc.	4.985	%	5/25/38	1,065		1,288
	Keurig Dr Pepper Inc.	4.500	%	11/15/45	2,668		3,102
	Keurig Dr Pepper Inc.	4.420	%	12/15/46	1,690		1,937
	Kimberly-Clark Corp.	6.625	%	8/1/37	953		1,520
	Kimberly-Clark Corp.	5.300	%	3/1/41	1,525		2,114
	Kimberly-Clark Corp.	3.200	%	7/30/46	1,885		2,095
	Kimberly-Clark Corp.	3.900	%	5/4/47	400		496
	Kimberly-Clark Corp.	2.875	%	2/7/50	1,940		1,989
	Koninklijke Ahold Delhaize NV	5.700	%	10/1/40	677		921
	Koninklijke Philips NV	6.875	%	3/11/38	1,530		2,315
	Koninklijke Philips NV	5.000	%	3/15/42	472		626
	Kraft Foods Group Inc.	6.500	%	2/9/40	1,898		2,172
	Kroger Co.	7.500	%	4/1/31	571		823
	Kroger Co.	6.900	%	4/15/38	126		176
	Kroger Co.	5.400	%	7/15/40	928		1,155
	Kroger Co.	5.000	%	4/15/42	851		1,005
	Kroger Co.	5.150	%	8/1/43	2,655		3,226
	Kroger Co.	3.875	%	10/15/46	2,075		2,118
	Kroger Co.	4.450	%	2/1/47	1,204		1,355
	Kroger Co.	4.650	%	1/15/48	2,423		2,757
	Kroger Co.	5.400	%	1/15/49	350		443
	Kroger Co.	3.950	%	1/15/50	2,200		2,277
	Laboratory Corp. of America Holdings	4.700	%	2/1/45	3,041		3,657
1	Mayo Clinic	3.774	%	11/15/43	850		1,016
1	Mayo Clinic	4.000	%	11/15/47	648		810
1	Mayo Clinic	4.128	%	11/15/52	525		670
	McCormick & Co. Inc.	4.200	%	8/15/47	696		834
	McKesson Corp.	6.000	%	3/1/41	1,435		1,911
	McKesson Corp.	4.883	%	3/15/44	1,340		1,638
	McLaren Health Care Corp.	4.386	%	5/15/48	450		566
	Mead Johnson Nutrition Co.	5.900	%	11/1/39	995		1,430
	Mead Johnson Nutrition Co.	4.600	%	6/1/44	1,854		2,369
1	MedStar Health Inc.	3.626	%	8/15/49	500		560
	Medtronic Inc.	4.375	%	3/15/35	5,833		7,454

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Medtronic Inc.	4.625	%	3/15/45	6,123		8,253
	Memorial Health Services	3.447	%	11/1/49	750		846
	Memorial Sloan-Kettering Cancer Center	5.000	%	7/1/42	175		244
	Memorial Sloan-Kettering Cancer Center	4.125	%	7/1/52	1,445		1,849
	Memorial Sloan-Kettering Cancer Center	4.200	%	7/1/55	1,603		2,110
	Merck & Co. Inc.	6.500	%	12/1/33	1,625		2,467
	Merck & Co. Inc.	3.900	%	3/7/39	1,477		1,793
	Merck & Co. Inc.	3.600	%	9/15/42	2,935		3,471
	Merck & Co. Inc.	4.150	%	5/18/43	3,000		3,806
	Merck & Co. Inc.	3.700	%	2/10/45	6,331		7,518
	Merck & Co. Inc.	4.000	%	3/7/49	3,760		4,698
	Molson Coors Beverage Co.	5.000	%	5/1/42	2,535		2,875
	Molson Coors Beverage Co.	4.200	%	7/15/46	4,692		4,803
	Mondelez International Inc.	4.625	%	5/7/48	215		271
1	Montefiore Obligated Group	5.246	%	11/1/48	1,070		1,316
	Montefiore Obligated Group	4.287	%	9/1/50	725		754
1	Mount Sinai Hospitals Group Inc.	3.981	%	7/1/48	650		758
1	Mount Sinai Hospitals Group Inc.	3.737	%	7/1/49	1,315		1,482
	Mylan Inc.	5.400	%	11/29/43	1,052		1,274
	Mylan Inc.	5.200	%	4/15/48	1,420		1,662
	Mylan NV	5.250	%	6/15/46	3,065		3,575
	New York & Presbyterian Hospital	4.024	%	8/1/45	1,273		1,577
	New York & Presbyterian Hospital	4.063	%	8/1/56	888		1,131
	New York & Presbyterian Hospital	3.954	%	8/1/19	1,650		1,994
	Northwell Healthcare Inc.	3.979	%	11/1/46	445		515
	Northwell Healthcare Inc.	4.260	%	11/1/47	2,660		3,161
	Northwell Healthcare Inc.	3.809	%	11/1/49	1,275		1,429
	Novartis Capital Corp.	2.200	%	8/14/30	3,720		3,838
	Novartis Capital Corp.	3.700	%	9/21/42	1,830		2,214
	Novartis Capital Corp.	4.400	%	5/6/44	3,825		4,974
	Novartis Capital Corp.	4.000	%	11/20/45	2,975		3,734
	Novartis Capital Corp.	2.750	%	8/14/50	3,725		3,874
1	NYU Hospitals Center	4.368	%	7/1/47	648		806
	NYU Langone Hospitals	5.750	%	7/1/43	1,170		1,724
	NYU Langone Hospitals	4.784	%	7/1/44	1,053		1,353
	NYU Langone Hospitals	3.380	%	7/1/55	1,500		1,580
	Orlando Health Obligated Group	4.089	%	10/1/48	700		856
	Partners Healthcare System Inc.	3.765	%	7/1/48	650		773
	Partners Healthcare System Inc.	3.192	%	7/1/49	1,275		1,352
	Partners Healthcare System Inc.	4.117	%	7/1/55	575		716
	Partners Healthcare System Inc.	3.342	%	7/1/60	2,000		2,186
	PeaceHealth Obligated Group	4.787	%	11/15/48	900		1,239
	PepsiCo Inc.	4.875	%	11/1/40	1,150		1,560
	PepsiCo Inc.	4.000	%	3/5/42	525		632
	PepsiCo Inc.	3.600	%	8/13/42	1,800		2,088
	PepsiCo Inc.	4.250	%	10/22/44	2,542		3,224
	PepsiCo Inc.	4.600	%	7/17/45	1,217		1,620
	PepsiCo Inc.	4.450	%	4/14/46	5,361		7,032
	PepsiCo Inc.	3.450	%	10/6/46	4,353		4,991
	PepsiCo Inc.	4.000	%	5/2/47	2,005		2,509
	PepsiCo Inc.	3.375	%	7/29/49	2,550		2,906
	PepsiCo Inc.	2.875	%	10/15/49	1,110		1,172
	Perrigo Finance Unlimited Co.	4.900	%	12/15/44	934		993
	Pfizer Inc.	4.000	%	12/15/36	3,321		4,019
	Pfizer Inc.	4.100	%	9/15/38	2,354		2,919
	Pfizer Inc.	3.900	%	3/15/39	3,490		4,150
	Pfizer Inc.	7.200	%	3/15/39	4,552		7,632
	Pfizer Inc.	5.600	%	9/15/40	1,621		2,327
	Pfizer Inc.	4.300	%	6/15/43	2,650		3,319
	Pfizer Inc.	4.400	%	5/15/44	2,050		2,586
	Pfizer Inc.	4.125	%	12/15/46	3,244		4,006
	Pfizer Inc.	4.200	%	9/15/48	2,215		2,813
	Pfizer Inc.	4.000	%	3/15/49	1,580		1,970
	Philip Morris International Inc.	6.375	%	5/16/38	2,950		4,248

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon		Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Philip Morris International Inc.	4.375	%	11/15/41	2,505		2,878
	Philip Morris International Inc.	4.500	%	3/20/42	2,129		2,516
	Philip Morris International Inc.	3.875	%	8/21/42	2,755		2,993
	Philip Morris International Inc.	4.125	%	3/4/43	2,625		2,952
	Philip Morris International Inc.	4.875	%	11/15/43	1,415		1,756
	Philip Morris International Inc.	4.250	%	11/10/44	2,587		2,997
	Procter & Gamble Co.	5.500	%	2/1/34	800		1,135
	Procter & Gamble Co.	5.800	%	8/15/34	945		1,394
	Procter & Gamble Co.	5.550	%	3/5/37	1,835		2,698
	Procter & Gamble Co.	3.500	%	10/25/47	1,535		1,872
1	Providence St. Joseph Health Obligated Group	3.744	%	10/1/47	1,083		1,262
1	Providence St. Joseph Health Obligated Group	3.930	%	10/1/48	715		875
	Quest Diagnostics Inc.	2.950	%	6/30/30	2,725		2,816
	Quest Diagnostics Inc.	4.700	%	3/30/45	988		1,197
	Reynolds American Inc.	5.700	%	8/15/35	1,494		1,805
	Reynolds American Inc.	7.250	%	6/15/37	951		1,280
	Reynolds American Inc.	6.150	%	9/15/43	1,793		2,201
	Reynolds American Inc.	5.850	%	8/15/45	5,628		6,691
	RWJ Barnabas Health Inc.	3.949	%	7/1/46	813		959
	RWJ Barnabas Health Inc.	3.477	%	7/1/49	700		777
	Spectrum Health System Obligated Group	3.487	%	7/15/49	850		971
	Stanford Health Care	3.795	%	11/15/48	1,200		1,454
	Stryker Corp.	4.100	%	4/1/43	1,802		2,147
	Stryker Corp.	4.375	%	5/15/44	1,045		1,316
	Stryker Corp.	4.625	%	3/15/46	1,455		1,865
	Sutter Health	4.091	%	8/15/48	915		1,112
	Sysco Corp.	5.375	%	9/21/35	261		357
	Sysco Corp.	4.850	%	10/1/45	1,965		2,508
	Sysco Corp.	4.500	%	4/1/46	1,984		2,375
	Sysco Corp.	4.450	%	3/15/48	210		255
	Sysco Corp.	3.300	%	2/15/50	1,225		1,251
1	Texas Health Resources	4.330	%	11/15/55	552		726
	Thermo Fisher Scientific Inc.	5.300	%	2/1/44	1,833		2,481
	Thermo Fisher Scientific Inc.	4.100	%	8/15/47	390		482
	Toledo Hospital	5.750	%	11/15/38	1,250		1,574
	Toledo Hospital	6.015	%	11/15/48	1,000		1,310
	Trinity Health Corp.	4.125	%	12/1/45	975		1,182
1	Trinity Health Corp.	3.434	%	12/1/48	725		802
	Tyson Foods Inc.	4.875	%	8/15/34	1,521		1,878
	Tyson Foods Inc.	5.150	%	8/15/44	855		1,093
	Tyson Foods Inc.	4.550	%	6/2/47	4,002		4,815
	Tyson Foods Inc.	5.100	%	9/28/48	3,910		5,101
	Unilever Capital Corp.	5.900	%	11/15/32	2,502		3,523
	Whirlpool Corp.	4.500	%	6/1/46	615		684
1	Willis-Knighton Medical Center	4.813	%	9/1/48	725		952
	Wyeth LLC	6.500	%	2/1/34	2,673		4,032
	Wyeth LLC	6.000	%	2/15/36	787		1,162
	Wyeth LLC	5.950	%	4/1/37	4,733		6,818
	Zimmer Biomet Holdings Inc.	5.750	%	11/30/39	830		1,060
	Zimmer Biomet Holdings Inc.	4.450	%	8/15/45	952		1,095
	Zoetis Inc.	4.700	%	2/1/43	3,805		4,945
	Zoetis Inc.	3.950	%	9/12/47	819		979
	Zoetis Inc.	4.450	%	8/20/48	1,250		1,600
	Energy (10.4%)
	Apache Corp.	6.000	%	1/15/37	255		306
	Apache Corp.	5.100	%	9/1/40	3,906		3,876
	Apache Corp.	5.250	%	2/1/42	2,277		2,298
	Apache Corp.	4.750	%	4/15/43	3,010		2,828
	Apache Corp.	4.250	%	1/15/44	3,560		3,293
	Baker Hughes a GE Co. LLC	5.125	%	9/15/40	3,000		3,638
	Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor Inc.	4.080	%	12/15/47	3,055		3,232
	BP Capital Markets America Inc.	3.000	%	2/24/50	4,000		3,932

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)

Burlington Resources Finance Co.	7.200%	8/15/31	1,922		2,886
Burlington Resources Finance Co.	7.400%	12/1/31	1,639		2,487
Canadian Natural Resources Ltd.	7.200%	1/15/32	858		1,184
Canadian Natural Resources Ltd.	6.450%	6/30/33	1,683		2,241
Canadian Natural Resources Ltd.	5.850%	2/1/35	475		616
Canadian Natural Resources Ltd.	6.500%	2/15/37	1,631		2,260
Canadian Natural Resources Ltd.	6.250%	3/15/38	1,154		1,491
Canadian Natural Resources Ltd.	6.750%	2/1/39	1,290		1,839
Canadian Natural Resources Ltd.	4.950%	6/1/47	3,025		3,600
Cenovus Energy Inc.	5.250%	6/15/37	2,897		3,072
Cenovus Energy Inc.	6.750%	11/15/39	3,955		4,858
Cenovus Energy Inc.	5.400%	6/15/47	1,378		1,510
Columbia Pipeline Group Inc.	5.800%	6/1/45	1,330		1,763
Concho Resources Inc.	4.875%	10/1/47	1,726		1,920
Concho Resources Inc.	4.850%	8/15/48	2,035		2,249
Conoco Funding Co.	7.250%	10/15/31	1,578		2,322
ConocoPhillips	5.900%	10/15/32	1,228		1,645
ConocoPhillips	5.900%	5/15/38	1,696		2,483
ConocoPhillips	6.500%	2/1/39	7,125		10,471
ConocoPhillips Canada Funding Co. I	5.950%	10/15/36	1,271		1,792
ConocoPhillips Co.	4.300%	11/15/44	2,368		2,834
Continental Resources Inc.	4.900%	6/1/44	1,715		1,475
Devon Energy Corp.	7.950%	4/15/32	1,290		1,919
Devon Energy Corp.	5.600%	7/15/41	3,082		3,932
Devon Energy Corp.	4.750%	5/15/42	3,601		3,612
Devon Energy Corp.	5.000%	6/15/45	350		376
Devon Financing Co. LLC	7.875%	9/30/31	1,835		2,675
Dominion Energy Gas Holdings LLC	4.800%	11/1/43	900		1,077
Dominion Energy Gas Holdings LLC	4.600%	12/15/44	900		1,064
Dominion Energy Gas Holdings LLC	3.900%	11/15/49	500		543
Enable Midstream Partners LP	5.000%	5/15/44	2,439		2,172
Enbridge Energy Partners LP	7.500%	4/15/38	1,192		1,843
Enbridge Energy Partners LP	5.500%	9/15/40	673		859
Enbridge Energy Partners LP	7.375%	10/15/45	1,810		2,896
Enbridge Inc.	4.500%	6/10/44	1,500		1,785
Enbridge Inc.	5.500%	12/1/46	755		1,022
Enbridge Inc.	4.000%	11/15/49	1,500		1,649
Energy Transfer Operating LP	3.750%	5/15/30	3,600		3,629
Energy Transfer Operating LP	4.900%	3/15/35	1,788		1,931
Energy Transfer Operating LP	6.250%	4/15/49	5,553		6,401
Energy Transfer Operating LP	5.000%	5/15/50	4,800		4,831
Energy Transfer Partners LP	6.625%	10/15/36	1,695		2,169
Energy Transfer Partners LP	5.800%	6/15/38	2,523		2,813
Energy Transfer Partners LP	7.500%	7/1/38	1,063		1,459
Energy Transfer Partners LP	6.050%	6/1/41	1,740		1,928
Energy Transfer Partners LP	6.500%	2/1/42	3,398		4,229
Energy Transfer Partners LP	5.150%	2/1/43	1,095		1,166
Energy Transfer Partners LP	5.950%	10/1/43	1,000		1,133
Energy Transfer Partners LP	5.150%	3/15/45	2,891		3,072
Energy Transfer Partners LP	6.125%	12/15/45	2,629		3,053
Energy Transfer Partners LP	5.300%	4/15/47	197		205
Energy Transfer Partners LP	6.000%	6/15/48	3,215		3,606
Enterprise Products Operating LLC	6.875%	3/1/33	1,097		1,591
Enterprise Products Operating LLC	6.125%	10/15/39	897		1,256
Enterprise Products Operating LLC	5.950%	2/1/41	3,423		4,500
Enterprise Products Operating LLC	5.700%	2/15/42	1,562		1,953
Enterprise Products Operating LLC	4.850%	8/15/42	2,659		3,178
Enterprise Products Operating LLC	4.450%	2/15/43	987		1,147
Enterprise Products Operating LLC	4.850%	3/15/44	1,848		2,260
Enterprise Products Operating LLC	5.100%	2/15/45	4,339		5,202
Enterprise Products Operating LLC	4.900%	5/15/46	3,534		4,135
Enterprise Products Operating LLC	4.250%	2/15/48	4,010		4,516

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Enterprise Products Operating LLC	4.800%	2/1/49	3,090		3,583
	Enterprise Products Operating LLC	4.200%	1/31/50	3,332		3,496
	Enterprise Products Operating LLC	3.700%	1/31/51	1,100		1,091
	Enterprise Products Operating LLC	4.950%	10/15/54	2,096		2,517
	Enterprise Products Operating LLC	3.950%	1/31/60	3,200		3,135
	EOG Resources Inc.	3.900%	4/1/35	1,286		1,497
	Exxon Mobil Corp.	2.995%	8/16/39	2,006		2,097
	Exxon Mobil Corp.	3.567%	3/6/45	2,832		3,140
	Exxon Mobil Corp.	4.114%	3/1/46	4,385		5,354
	Exxon Mobil Corp.	3.095%	8/16/49	4,750		4,912
	Halliburton Co.	2.920%	3/1/30	1,500		1,465
	Halliburton Co.	4.850%	11/15/35	3,715		4,284
	Halliburton Co.	6.700%	9/15/38	2,839		4,015
	Halliburton Co.	4.500%	11/15/41	2,095		2,369
	Halliburton Co.	4.750%	8/1/43	2,213		2,370
	Halliburton Co.	5.000%	11/15/45	4,722		5,085
	Hess Corp.	7.300%	8/15/31	1,943		2,588
	Hess Corp.	7.125%	3/15/33	1,866		2,513
	Hess Corp.	6.000%	1/15/40	607		674
	Hess Corp.	5.600%	2/15/41	3,211		3,466
	Hess Corp.	5.800%	4/1/47	1,298		1,430
	Husky Energy Inc.	6.800%	9/15/37	865		1,187
	Kinder Morgan Energy Partners LP	7.400%	3/15/31	476		654
	Kinder Morgan Energy Partners LP	7.750%	3/15/32	1,357		1,931
	Kinder Morgan Energy Partners LP	7.300%	8/15/33	1,746		2,446
	Kinder Morgan Energy Partners LP	5.800%	3/15/35	1,763		2,144
	Kinder Morgan Energy Partners LP	6.500%	2/1/37	1,313		1,689
	Kinder Morgan Energy Partners LP	6.950%	1/15/38	3,225		4,354
	Kinder Morgan Energy Partners LP	6.500%	9/1/39	1,268		1,670
	Kinder Morgan Energy Partners LP	6.550%	9/15/40	1,265		1,692
	Kinder Morgan Energy Partners LP	7.500%	11/15/40	1,018		1,469
	Kinder Morgan Energy Partners LP	6.375%	3/1/41	1,448		1,868
	Kinder Morgan Energy Partners LP	5.625%	9/1/41	698		830
	Kinder Morgan Energy Partners LP	4.700%	11/1/42	1,242		1,344
	Kinder Morgan Energy Partners LP	5.000%	3/1/43	1,496		1,678
	Kinder Morgan Energy Partners LP	5.500%	3/1/44	2,098		2,553
	Kinder Morgan Energy Partners LP	5.400%	9/1/44	1,612		1,878
	Kinder Morgan Inc.	7.800%	8/1/31	725		1,038
	Kinder Morgan Inc.	7.750%	1/15/32	2,360		3,437
	Kinder Morgan Inc.	5.300%	12/1/34	3,870		4,597
	Kinder Morgan Inc.	5.550%	6/1/45	5,743		6,794
	Kinder Morgan Inc.	5.050%	2/15/46	485		548
	Kinder Morgan Inc.	5.200%	3/1/48	185		219
	Magellan Midstream Partners LP	5.150%	10/15/43	1,660		2,103
	Magellan Midstream Partners LP	4.250%	9/15/46	1,048		1,171
	Magellan Midstream Partners LP	4.200%	10/3/47	1,320		1,529
	Magellan Midstream Partners LP	4.850%	2/1/49	415		507
	Magellan Midstream Partners LP	3.950%	3/1/50	1,225		1,306
	Marathon Oil Corp.	6.800%	3/15/32	942		1,174
	Marathon Oil Corp.	6.600%	10/1/37	2,331		2,978
	Marathon Oil Corp.	5.200%	6/1/45	1,423		1,669
	Marathon Petroleum Corp.	6.500%	3/1/41	2,118		2,956
	Marathon Petroleum Corp.	4.750%	9/15/44	2,919		3,474
	Marathon Petroleum Corp.	4.500%	4/1/48	1,100		1,240
	Marathon Petroleum Corp.	5.000%	9/15/54	2,208		2,686
	MPLX LP	4.500%	4/15/38	5,788		5,851
	MPLX LP	5.200%	3/1/47	1,500		1,578
3	MPLX LP	5.200%	12/1/47	2,010		2,151
	MPLX LP	4.700%	4/15/48	3,815		3,910
	MPLX LP	5.500%	2/15/49	3,945		4,425
	MPLX LP	4.900%	4/15/58	1,600		1,786
	National Oilwell Varco Inc.	3.950%	12/1/42	2,700		2,590
	Noble Energy Inc.	6.000%	3/1/41	2,346		2,708
	Noble Energy Inc.	5.250%	11/15/43	757		795

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Noble Energy Inc.	5.050%	11/15/44	2,715		2,760
Noble Energy Inc.	4.950%	8/15/47	2,239		2,292
Noble Energy Inc.	4.200%	10/15/49	600		562
Occidental Petroleum Corp.	7.500%	5/1/31	1,807		2,351
Occidental Petroleum Corp.	7.875%	9/15/31	2,338		3,135
Occidental Petroleum Corp.	6.450%	9/15/36	4,496		5,308
Occidental Petroleum Corp.	7.950%	6/15/39	410		615
Occidental Petroleum Corp.	4.300%	8/15/39	1,825		1,743
Occidental Petroleum Corp.	6.200%	3/15/40	1,578		1,779
Occidental Petroleum Corp.	4.500%	7/15/44	1,328		1,383
Occidental Petroleum Corp.	4.625%	6/15/45	2,349		2,183
Occidental Petroleum Corp.	6.600%	3/15/46	2,985		3,596
Occidental Petroleum Corp.	4.400%	4/15/46	4,055		3,691
Occidental Petroleum Corp.	4.100%	2/15/47	2,704		2,338
Occidental Petroleum Corp.	4.200%	3/15/48	1,190		1,105
ONEOK Inc.	6.000%	6/15/35	697		888
ONEOK Inc.	4.950%	7/13/47	1,225		1,393
ONEOK Inc.	5.200%	7/15/48	3,985		4,531
ONEOK Inc.	4.450%	9/1/49	1,245		1,273
ONEOK Partners LP	6.650%	10/1/36	1,155		1,494
ONEOK Partners LP	6.850%	10/15/37	2,220		2,981
ONEOK Partners LP	6.125%	2/1/41	1,186		1,486
ONEOK Partners LP	6.200%	9/15/43	677		877
Ovintiv Inc.	8.125%	9/15/30	470		626
Ovintiv Inc.	7.200%	11/1/31	600		779
Ovintiv Inc.	7.375%	11/1/31	1,807		2,272
Ovintiv Inc.	6.500%	8/15/34	2,455		2,628
Ovintiv Inc.	6.625%	8/15/37	245		294
Ovintiv Inc.	6.500%	2/1/38	1,526		1,814
Petro-Canada	5.350%	7/15/33	723		933
Petro-Canada	5.950%	5/15/35	1,445		1,978
Petro-Canada	6.800%	5/15/38	2,934		4,334
Phillips 66	4.650%	11/15/34	1,515		1,850
Phillips 66	5.875%	5/1/42	3,650		5,223
Phillips 66	4.875%	11/15/44	4,195		5,051
Phillips 66 Partners LP	4.680%	2/15/45	1,202		1,415
Phillips 66 Partners LP	4.900%	10/1/46	1,000		1,180
Plains All American Pipeline LP / PAA Finance Corp.	6.650%	1/15/37	1,410		1,671
Plains All American Pipeline LP / PAA Finance Corp.	5.150%	6/1/42	1,700		1,678
Plains All American Pipeline LP / PAA Finance Corp.	4.300%	1/31/43	1,100		991
Plains All American Pipeline LP / PAA Finance Corp.	4.700%	6/15/44	840		768
Plains All American Pipeline LP / PAA Finance Corp.	4.900%	2/15/45	2,135		2,026
Shell International Finance BV	4.125%	5/11/35	4,714		5,681
Shell International Finance BV	6.375%	12/15/38	5,255		7,947
Shell International Finance BV	5.500%	3/25/40	3,114		4,487
Shell International Finance BV	3.625%	8/21/42	1,985		2,223
Shell International Finance BV	4.550%	8/12/43	2,922		3,676
Shell International Finance BV	4.375%	5/11/45	5,946		7,306
Shell International Finance BV	4.000%	5/10/46	6,338		7,502
Shell International Finance BV	3.750%	9/12/46	3,345		3,811
Shell International Finance BV	3.125%	11/7/49	3,290		3,384
Spectra Energy Partners LP	5.950%	9/25/43	1,031		1,400
Spectra Energy Partners LP	4.500%	3/15/45	2,070		2,387
Suncor Energy Inc.	7.150%	2/1/32	975		1,462
Suncor Energy Inc.	5.950%	12/1/34	1,320		1,842
Suncor Energy Inc.	6.500%	6/15/38	2,381		3,419
Suncor Energy Inc.	6.850%	6/1/39	1,570		2,308
Suncor Energy Inc.	4.000%	11/15/47	2,245		2,479
Sunoco Logistics Partners Operations LP	6.100%	2/15/42	874		1,057
Sunoco Logistics Partners Operations LP	4.950%	1/15/43	1,313		1,400
Sunoco Logistics Partners Operations LP	5.300%	4/1/44	1,758		1,987
Sunoco Logistics Partners Operations LP	5.350%	5/15/45	383		426
Sunoco Logistics Partners Operations LP	5.400%	10/1/47	1,883		1,994
Tennessee Gas Pipeline Co. LLC	7.625%	4/1/37	624		903

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Texas Eastern Transmission LP	7.000%	7/15/32	1,129		1,616
	Total Capital International SA	3.461%	7/12/49	3,150		3,445
	TransCanada PipeLines Ltd.	4.625%	3/1/34	1,825		2,126
	TransCanada PipeLines Ltd.	5.600%	3/31/34	100		132
	TransCanada PipeLines Ltd.	5.850%	3/15/36	1,660		2,191
	TransCanada PipeLines Ltd.	6.200%	10/15/37	3,314		4,650
	TransCanada PipeLines Ltd.	4.750%	5/15/38	1,805		2,088
	TransCanada PipeLines Ltd.	7.250%	8/15/38	2,137		3,273
	TransCanada PipeLines Ltd.	7.625%	1/15/39	3,400		5,337
	TransCanada PipeLines Ltd.	6.100%	6/1/40	1,123		1,589
	TransCanada PipeLines Ltd.	5.000%	10/16/43	1,505		1,798
	TransCanada PipeLines Ltd.	4.875%	5/15/48	1,890		2,260
	TransCanada PipeLines Ltd.	5.100%	3/15/49	3,701		4,606
	Transcontinental Gas Pipe Line Co. LLC	5.400%	8/15/41	635		786
	Transcontinental Gas Pipe Line Co. LLC	4.450%	8/1/42	1,325		1,475
	Transcontinental Gas Pipe Line Co. LLC	4.600%	3/15/48	200		229
	Valero Energy Corp.	7.500%	4/15/32	3,729		5,479
	Valero Energy Corp.	6.625%	6/15/37	2,626		3,593
	Valero Energy Corp.	4.900%	3/15/45	1,609		1,839
	Western Midstream Operating LP	5.450%	4/1/44	1,318		1,260
	Western Midstream Operating LP	5.300%	3/1/48	540		504
	Western Midstream Operating LP	5.500%	8/15/48	800		774
	Western Midstream Operating LP	5.250%	2/1/50	3,500		3,252
	Williams Cos. Inc.	7.500%	1/15/31	463		611
	Williams Cos. Inc.	8.750%	3/15/32	155		234
	Williams Cos. Inc.	6.300%	4/15/40	3,297		4,027
	Williams Cos. Inc.	5.800%	11/15/43	1,241		1,525
	Williams Cos. Inc.	5.400%	3/4/44	2,104		2,379
	Williams Cos. Inc.	5.750%	6/24/44	1,900		2,319
	Williams Cos. Inc.	4.900%	1/15/45	2,401		2,571
	Williams Cos. Inc.	5.100%	9/15/45	3,174		3,500
	Williams Cos. Inc.	4.850%	3/1/48	2,000		2,108
	Other Industrial (0.7%)
1	American University	3.672%	4/1/49	600		737
1	Boston University	4.061%	10/1/48	825		1,068
	California Institute of Technology	4.321%	8/1/45	605		813
	California Institute of Technology	4.700%	11/1/11	803		1,130
	Georgetown University	4.315%	4/1/49	1,142		1,490
	Georgetown University	2.943%	4/1/50	300		312
	Georgetown University	5.215%	10/1/18	684		1,047
1	Johns Hopkins University	4.083%	7/1/53	710		956
	Leland Stanford Junior University	3.647%	5/1/48	1,685		2,160
1	Massachusetts Institute of Technology	3.959%	7/1/38	725		886
	Massachusetts Institute of Technology	2.989%	7/1/50	1,140		1,255
	Massachusetts Institute of Technology	5.600%	7/1/11	1,237		2,258
	Massachusetts Institute of Technology	4.678%	7/1/14	1,340		2,075
	Massachusetts Institute of Technology	3.885%	7/1/16	1,805		2,358
1	Northwestern University	4.643%	12/1/44	1,225		1,681
1	Northwestern University	3.662%	12/1/57	768		988
	President & Fellows of Harvard College	3.619%	10/1/37	436		511
	President & Fellows of Harvard College	4.875%	10/15/40	593		831
	President & Fellows of Harvard College	3.150%	7/15/46	1,690		1,930
	President & Fellows of Harvard College	3.300%	7/15/56	1,000		1,201
1	Rice University	3.774%	5/15/55	150		188
1	Trustees of Boston College	3.129%	7/1/52	750		852
1	University of Chicago	4.003%	10/1/53	1,150		1,474
1	University of Notre Dame du Lac	3.438%	2/15/45	1,025		1,215
	University of Notre Dame du Lac	3.394%	2/15/48	370		437
	University of Pennsylvania	4.674%	9/1/12	600		939
	University of Pennsylvania	3.610%	2/15/19	1,375		1,708
1	University of Southern California	3.028%	10/1/39	371		405
1	University of Southern California	3.841%	10/1/47	1,725		2,196
	University of Southern California	3.226%	10/1/20	750		811

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
1	William Marsh Rice University	3.574%	5/15/45	1,822		2,169
	Technology (7.1%)
	Analog Devices Inc.	5.300%	12/15/45	113		151
	Apple Inc.	4.500%	2/23/36	1,674		2,136
	Apple Inc.	3.850%	5/4/43	6,620		7,881
	Apple Inc.	4.450%	5/6/44	2,458		3,172
	Apple Inc.	3.450%	2/9/45	5,920		6,700
	Apple Inc.	4.375%	5/13/45	5,389		6,841
	Apple Inc.	4.650%	2/23/46	10,064		13,408
	Apple Inc.	3.850%	8/4/46	5,529		6,598
	Apple Inc.	4.250%	2/9/47	2,005		2,490
	Apple Inc.	3.750%	9/12/47	3,611		4,267
	Apple Inc.	3.750%	11/13/47	2,835		3,389
	Apple Inc.	2.950%	9/11/49	3,925		4,107
	Applied Materials Inc.	5.100%	10/1/35	1,573		2,109
	Applied Materials Inc.	5.850%	6/15/41	764		1,127
	Applied Materials Inc.	4.350%	4/1/47	3,079		4,011
	Cisco Systems Inc.	5.900%	2/15/39	5,000		7,439
	Cisco Systems Inc.	5.500%	1/15/40	5,750		8,296
	Citrix Systems Inc.	3.300%	3/1/30	750		748
	Corning Inc.	4.700%	3/15/37	780		920
	Corning Inc.	5.750%	8/15/40	1,766		2,267
	Corning Inc.	4.750%	3/15/42	1,262		1,464
	Corning Inc.	5.350%	11/15/48	1,475		1,958
	Corning Inc.	4.375%	11/15/57	960		1,037
	Corning Inc.	5.850%	11/15/68	1,200		1,460
	Corning Inc.	5.450%	11/15/79	2,900		3,222
3	Dell International LLC / EMC Corp.	8.100%	7/15/36	3,315		4,543
3	Dell International LLC / EMC Corp.	8.350%	7/15/46	5,011		6,774
	Fidelity National Information Services Inc.	4.500%	8/15/46	100		123
	Fiserv Inc.	4.400%	7/1/49	5,842		6,990
	Global Payments Inc.	4.150%	8/15/49	2,810		3,230
	Hewlett Packard Enterprise Co.	6.200%	10/15/35	3,198		3,974
	Hewlett Packard Enterprise Co.	6.350%	10/15/45	4,228		5,284
	HP Inc.	6.000%	9/15/41	3,118		3,590
	Intel Corp.	4.000%	12/15/32	3,098		3,714
	Intel Corp.	4.800%	10/1/41	2,521		3,353
	Intel Corp.	4.250%	12/15/42	1,729		2,152
	Intel Corp.	4.900%	7/29/45	1,424		1,899
	Intel Corp.	4.100%	5/19/46	787		965
	Intel Corp.	4.100%	5/11/47	2,825		3,455
	Intel Corp.	3.734%	12/8/47	5,750		6,693
	Intel Corp.	3.250%	11/15/49	4,740		5,179
	Intel Corp.	3.100%	2/15/60	2,450		2,521
	International Business Machines Corp.	5.875%	11/29/32	1,690		2,347
	International Business Machines Corp.	4.150%	5/15/39	5,235		6,310
	International Business Machines Corp.	5.600%	11/30/39	1,945		2,759
	International Business Machines Corp.	4.000%	6/20/42	4,962		5,883
	International Business Machines Corp.	4.700%	2/19/46	1,600		2,110
	International Business Machines Corp.	4.250%	5/15/49	7,296		9,053
	Juniper Networks Inc.	5.950%	3/15/41	1,518		1,856
	KLA Corp.	5.000%	3/15/49	1,250		1,649
	KLA Corp.	3.300%	3/1/50	1,000		977
	Lam Research Corp.	4.875%	3/15/49	1,900		2,497
	Microsoft Corp.	3.500%	2/12/35	2,787		3,238
	Microsoft Corp.	4.200%	11/3/35	4,428		5,518
	Microsoft Corp.	3.450%	8/8/36	5,612		6,461
	Microsoft Corp.	4.100%	2/6/37	6,609		8,202
	Microsoft Corp.	5.200%	6/1/39	800		1,140
	Microsoft Corp.	4.500%	10/1/40	4,216		5,558
	Microsoft Corp.	5.300%	2/8/41	300		433
	Microsoft Corp.	3.500%	11/15/42	4,264		4,931
	Microsoft Corp.	3.750%	5/1/43	1,296		1,554

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Microsoft Corp.	4.875%	12/15/43	2,183		3,012
	Microsoft Corp.	3.750%	2/12/45	4,631		5,588
	Microsoft Corp.	4.450%	11/3/45	8,960		12,024
	Microsoft Corp.	3.700%	8/8/46	9,821		11,915
	Microsoft Corp.	4.250%	2/6/47	6,548		8,655
	Microsoft Corp.	4.000%	2/12/55	7,480		9,539
	Microsoft Corp.	4.750%	11/3/55	1,650		2,381
	Microsoft Corp.	3.950%	8/8/56	4,471		5,670
	Microsoft Corp.	4.500%	2/6/57	3,900		5,450
	Motorola Solutions Inc.	5.500%	9/1/44	868		1,029
	Oracle Corp.	3.250%	5/15/30	1,714		1,909
	Oracle Corp.	4.300%	7/8/34	4,457		5,438
	Oracle Corp.	3.900%	5/15/35	4,126		4,833
	Oracle Corp.	3.850%	7/15/36	2,980		3,490
	Oracle Corp.	3.800%	11/15/37	5,450		6,278
	Oracle Corp.	6.500%	4/15/38	500		764
	Oracle Corp.	6.125%	7/8/39	3,218		4,773
	Oracle Corp.	5.375%	7/15/40	5,877		8,069
	Oracle Corp.	4.500%	7/8/44	2,635		3,346
	Oracle Corp.	4.125%	5/15/45	5,094		6,153
	Oracle Corp.	4.000%	7/15/46	7,339		8,761
	Oracle Corp.	4.000%	11/15/47	5,597		6,772
	Oracle Corp.	4.375%	5/15/55	2,480		3,142
	QUALCOMM Inc.	4.650%	5/20/35	2,618		3,264
	QUALCOMM Inc.	4.800%	5/20/45	3,878		4,910
	QUALCOMM Inc.	4.300%	5/20/47	3,230		3,873
	Seagate HDD Cayman	5.750%	12/1/34	745		805
	Texas Instruments Inc.	3.875%	3/15/39	1,875		2,237
	Texas Instruments Inc.	4.150%	5/15/48	3,625		4,609
	Tyco Electronics Group SA	7.125%	10/1/37	1,000		1,560
	Verisk Analytics Inc.	5.500%	6/15/45	1,418		1,921
	Transportation (3.6%)
1	American Airlines 2019-1 Class AA Pass Through Trust	3.150%	8/15/33	985		1,069
	Burlington Northern Santa Fe LLC	6.200%	8/15/36	323		469
	Burlington Northern Santa Fe LLC	6.150%	5/1/37	1,080		1,583
	Burlington Northern Santa Fe LLC	5.750%	5/1/40	815		1,152
	Burlington Northern Santa Fe LLC	5.050%	3/1/41	1,804		2,363
	Burlington Northern Santa Fe LLC	5.400%	6/1/41	2,068		2,836
	Burlington Northern Santa Fe LLC	4.950%	9/15/41	1,186		1,539
	Burlington Northern Santa Fe LLC	4.400%	3/15/42	1,858		2,248
	Burlington Northern Santa Fe LLC	4.375%	9/1/42	1,959		2,408
	Burlington Northern Santa Fe LLC	4.450%	3/15/43	4,054		4,938
	Burlington Northern Santa Fe LLC	5.150%	9/1/43	2,064		2,797
	Burlington Northern Santa Fe LLC	4.900%	4/1/44	1,582		2,073
	Burlington Northern Santa Fe LLC	4.550%	9/1/44	1,370		1,726
	Burlington Northern Santa Fe LLC	4.150%	4/1/45	2,132		2,548
	Burlington Northern Santa Fe LLC	4.700%	9/1/45	400		516
	Burlington Northern Santa Fe LLC	3.900%	8/1/46	1,778		2,083
	Burlington Northern Santa Fe LLC	4.125%	6/15/47	3,000		3,665
	Burlington Northern Santa Fe LLC	4.050%	6/15/48	2,656		3,193
	Burlington Northern Santa Fe LLC	4.150%	12/15/48	1,280		1,557
	Burlington Northern Santa Fe LLC	3.550%	2/15/50	1,725		1,936
	Canadian National Railway Co.	6.250%	8/1/34	1,103		1,643
	Canadian National Railway Co.	6.200%	6/1/36	1,064		1,591
	Canadian National Railway Co.	6.375%	11/15/37	945		1,454
	Canadian National Railway Co.	4.500%	11/7/43	200		266
	Canadian National Railway Co.	3.200%	8/2/46	850		956
	Canadian National Railway Co.	3.650%	2/3/48	895		1,065
	Canadian National Railway Co.	4.450%	1/20/49	2,295		3,154
	Canadian Pacific Railway Co.	7.125%	10/15/31	821		1,222
	Canadian Pacific Railway Co.	4.800%	9/15/35	1,202		1,574
	Canadian Pacific Railway Co.	5.950%	5/15/37	1,330		1,956
	Canadian Pacific Railway Co.	4.800%	8/1/45	1,795		2,460

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Canadian Pacific Railway Co.	6.125%	9/15/15	1,278		2,090
	CSX Corp.	6.000%	10/1/36	368		510
	CSX Corp.	6.150%	5/1/37	958		1,347
	CSX Corp.	5.500%	4/15/41	1,471		1,987
	CSX Corp.	4.750%	5/30/42	2,755		3,454
	CSX Corp.	4.400%	3/1/43	730		874
	CSX Corp.	4.100%	3/15/44	2,684		3,114
	CSX Corp.	3.800%	11/1/46	2,211		2,450
	CSX Corp.	4.300%	3/1/48	3,585		4,309
	CSX Corp.	4.750%	11/15/48	1,775		2,275
	CSX Corp.	4.500%	3/15/49	1,650		2,058
	CSX Corp.	3.350%	9/15/49	1,300		1,377
	CSX Corp.	3.950%	5/1/50	1,550		1,784
	CSX Corp.	4.500%	8/1/54	1,986		2,448
	CSX Corp.	4.250%	11/1/66	2,221		2,513
	CSX Corp.	4.650%	3/1/68	990		1,229
	FedEx Corp.	4.900%	1/15/34	1,913		2,294
	FedEx Corp.	3.900%	2/1/35	270		294
	FedEx Corp.	3.875%	8/1/42	1,384		1,406
	FedEx Corp.	4.100%	4/15/43	1,363		1,405
	FedEx Corp.	5.100%	1/15/44	2,438		2,830
	FedEx Corp.	4.100%	2/1/45	1,910		1,965
	FedEx Corp.	4.750%	11/15/45	1,279		1,422
	FedEx Corp.	4.550%	4/1/46	1,970		2,160
	FedEx Corp.	4.400%	1/15/47	2,476		2,659
	FedEx Corp.	4.050%	2/15/48	3,460		3,495
	FedEx Corp.	4.950%	10/17/48	2,275		2,594
1	JetBlue 2019-1 Class AA Pass Through Trust	2.750%	5/15/32	1,150		1,214
	Kansas City Southern	4.300%	5/15/43	1,370		1,645
	Kansas City Southern	4.950%	8/15/45	1,303		1,675
	Kansas City Southern	4.700%	5/1/48	1,975		2,564
	Kansas City Southern	4.200%	11/15/69	550		648
	Norfolk Southern Corp.	7.050%	5/1/37	255		379
	Norfolk Southern Corp.	4.837%	10/1/41	1,475		1,887
	Norfolk Southern Corp.	3.950%	10/1/42	1,490		1,729
	Norfolk Southern Corp.	4.450%	6/15/45	2,328		2,856
	Norfolk Southern Corp.	4.650%	1/15/46	1,435		1,803
	Norfolk Southern Corp.	3.942%	11/1/47	1,825		2,119
	Norfolk Southern Corp.	4.150%	2/28/48	1,165		1,399
	Norfolk Southern Corp.	4.100%	5/15/49	1,325		1,582
	Norfolk Southern Corp.	3.400%	11/1/49	950		1,003
	Norfolk Southern Corp.	4.050%	8/15/52	370		435
	Norfolk Southern Corp.	5.100%	8/1/18	2,404		3,112
	Union Pacific Corp.	3.375%	2/1/35	291		323
	Union Pacific Corp.	3.600%	9/15/37	1,087		1,205
	Union Pacific Corp.	4.375%	9/10/38	2,018		2,424
	Union Pacific Corp.	3.550%	8/15/39	100		110
	Union Pacific Corp.	4.300%	6/15/42	755		901
	Union Pacific Corp.	4.250%	4/15/43	1,255		1,481
	Union Pacific Corp.	4.150%	1/15/45	945		1,104
	Union Pacific Corp.	4.050%	11/15/45	1,121		1,307
	Union Pacific Corp.	4.050%	3/1/46	1,000		1,169
	Union Pacific Corp.	3.350%	8/15/46	1,057		1,124
	Union Pacific Corp.	4.000%	4/15/47	1,201		1,412
	Union Pacific Corp.	4.500%	9/10/48	1,025		1,270
	Union Pacific Corp.	4.300%	3/1/49	2,085		2,520
	Union Pacific Corp.	3.250%	2/5/50	1,925		1,981
	Union Pacific Corp.	3.799%	10/1/51	3,581		4,000
	Union Pacific Corp.	3.875%	2/1/55	953		1,063
	Union Pacific Corp.	4.800%	9/10/58	50		65
	Union Pacific Corp.	3.950%	8/15/59	600		681
3	Union Pacific Corp.	3.839%	3/20/60	6,888		7,524
	Union Pacific Corp.	4.375%	11/15/65	1,755		2,104
	Union Pacific Corp.	4.100%	9/15/67	1,095		1,241

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Union Pacific Corp.	3.750%	2/5/70	1,000		1,049
1	United Airlines 2018-1 Class AA Pass Through Trust	3.500%	3/1/30	1,389		1,516
1	United Airlines 2019-1 Class AA Pass Through Trust	4.150%	8/25/31	1,244		1,413
1	United Airlines 2019-2 Class AA Pass Through Trust	2.700%	11/1/33	1,800		1,912
	United Parcel Service Inc.	6.200%	1/15/38	2,288		3,374
	United Parcel Service Inc.	4.875%	11/15/40	1,578		2,033
	United Parcel Service Inc.	3.625%	10/1/42	865		958
	United Parcel Service Inc.	3.400%	11/15/46	789		830
	United Parcel Service Inc.	3.750%	11/15/47	1,900		2,112
	United Parcel Service Inc.	4.250%	3/15/49	2,445		2,951
	United Parcel Service Inc.	3.400%	9/1/49	2,570		2,716
	United Parcel Service of America Inc.	8.375%	4/1/30	325		477

						3,765,736
Utilities (12.3%)
	Electric (11.1%)
	AEP Texas Inc.	3.800%	10/1/47	1,777		1,964
	AEP Texas Inc.	3.450%	1/15/50	1,300		1,389
	AEP Transmission Co. LLC	4.000%	12/1/46	1,075		1,266
	AEP Transmission Co. LLC	3.750%	12/1/47	1,178		1,361
	AEP Transmission Co. LLC	4.250%	9/15/48	500		616
	AEP Transmission Co. LLC	3.800%	6/15/49	600		702
	AEP Transmission Co. LLC	3.150%	9/15/49	825		869
	Alabama Power Co.	6.125%	5/15/38	415		606
	Alabama Power Co.	6.000%	3/1/39	1,141		1,673
	Alabama Power Co.	3.850%	12/1/42	680		783
	Alabama Power Co.	4.150%	8/15/44	1,378		1,634
	Alabama Power Co.	3.750%	3/1/45	2,150		2,409
	Alabama Power Co.	4.300%	1/2/46	1,410		1,749
	Alabama Power Co.	3.700%	12/1/47	1,690		1,878
	Alabama Power Co.	4.300%	7/15/48	835		1,030
	Alabama Power Co.	3.450%	10/1/49	2,215		2,405
	Ameren Illinois Co.	4.150%	3/15/46	176		216
	Ameren Illinois Co.	3.700%	12/1/47	2,105		2,438
	Ameren Illinois Co.	4.500%	3/15/49	1,630		2,134
	Ameren Illinois Co.	3.250%	3/15/50	500		548
	Appalachian Power Co.	7.000%	4/1/38	338		504
	Appalachian Power Co.	4.400%	5/15/44	2,110		2,530
	Appalachian Power Co.	4.450%	6/1/45	1,500		1,833
	Appalachian Power Co.	4.500%	3/1/49	1,394		1,736
	Arizona Public Service Co.	5.050%	9/1/41	580		752
	Arizona Public Service Co.	4.500%	4/1/42	1,091		1,363
	Arizona Public Service Co.	4.350%	11/15/45	303		374
	Arizona Public Service Co.	3.750%	5/15/46	365		411
	Arizona Public Service Co.	4.200%	8/15/48	1,175		1,430
	Arizona Public Service Co.	4.250%	3/1/49	1,275		1,588
	Arizona Public Service Co.	3.500%	12/1/49	1,050		1,164
	Avista Corp.	4.350%	6/1/48	900		1,124
	Baltimore Gas & Electric Co.	6.350%	10/1/36	873		1,267
	Baltimore Gas & Electric Co.	3.500%	8/15/46	900		1,012
	Baltimore Gas & Electric Co.	3.750%	8/15/47	1,450		1,667
	Baltimore Gas & Electric Co.	4.250%	9/15/48	747		925
	Baltimore Gas & Electric Co.	3.200%	9/15/49	695		731
	Berkshire Hathaway Energy Co.	6.125%	4/1/36	5,501		7,858
	Berkshire Hathaway Energy Co.	5.950%	5/15/37	1,646		2,326
	Berkshire Hathaway Energy Co.	5.150%	11/15/43	2,033		2,707
	Berkshire Hathaway Energy Co.	4.500%	2/1/45	2,089		2,586
	Berkshire Hathaway Energy Co.	3.800%	7/15/48	2,015		2,297
	Berkshire Hathaway Energy Co.	4.450%	1/15/49	2,475		3,099
	Black Hills Corp.	4.350%	5/1/33	1,372		1,623
	Black Hills Corp.	4.200%	9/15/46	589		670
	Black Hills Corp.	3.875%	10/15/49	500		551
	CenterPoint Energy Houston Electric LLC	6.950%	3/15/33	520		778
	CenterPoint Energy Houston Electric LLC	3.550%	8/1/42	1,697		1,898

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	CenterPoint Energy Houston Electric LLC	4.500%	4/1/44	2,329		2,964
	CenterPoint Energy Houston Electric LLC	3.950%	3/1/48	1,025		1,233
	CenterPoint Energy Houston Electric LLC	4.250%	2/1/49	381		479
	CenterPoint Energy Inc.	2.950%	3/1/30	750		788
	CenterPoint Energy Inc.	3.700%	9/1/49	850		921
	Cleco Corporate Holdings LLC	4.973%	5/1/46	800		967
	Cleveland Electric Illuminating Co.	5.950%	12/15/36	1,503		1,997
	CMS Energy Corp.	4.875%	3/1/44	1,517		1,943
	Commonwealth Edison Co.	2.200%	3/1/30	750		756
	Commonwealth Edison Co.	5.900%	3/15/36	2,057		2,950
	Commonwealth Edison Co.	6.450%	1/15/38	376		570
	Commonwealth Edison Co.	3.800%	10/1/42	1,014		1,161
	Commonwealth Edison Co.	4.600%	8/15/43	666		843
	Commonwealth Edison Co.	4.700%	1/15/44	1,176		1,510
	Commonwealth Edison Co.	3.700%	3/1/45	645		733
	Commonwealth Edison Co.	4.350%	11/15/45	1,238		1,536
	Commonwealth Edison Co.	3.650%	6/15/46	800		903
	Commonwealth Edison Co.	3.750%	8/15/47	2,692		3,146
	Commonwealth Edison Co.	4.000%	3/1/48	2,750		3,309
	Commonwealth Edison Co.	4.000%	3/1/49	1,760		2,122
	Commonwealth Edison Co.	3.200%	11/15/49	150		159
	Commonwealth Edison Co.	3.000%	3/1/50	1,500		1,545
	Connecticut Light & Power Co.	4.300%	4/15/44	403		504
	Connecticut Light & Power Co.	4.150%	6/1/45	752		930
	Connecticut Light & Power Co.	4.000%	4/1/48	2,785		3,419
	Consolidated Edison Co. of New York Inc.	5.300%	3/1/35	829		1,106
	Consolidated Edison Co. of New York Inc.	5.850%	3/15/36	1,298		1,794
	Consolidated Edison Co. of New York Inc.	6.200%	6/15/36	1,265		1,809
	Consolidated Edison Co. of New York Inc.	6.300%	8/15/37	1,430		2,082
	Consolidated Edison Co. of New York Inc.	6.750%	4/1/38	1,582		2,429
	Consolidated Edison Co. of New York Inc.	5.500%	12/1/39	280		378
	Consolidated Edison Co. of New York Inc.	5.700%	6/15/40	1,000		1,404
	Consolidated Edison Co. of New York Inc.	4.200%	3/15/42	919		1,095
	Consolidated Edison Co. of New York Inc.	3.950%	3/1/43	1,057		1,218
	Consolidated Edison Co. of New York Inc.	4.450%	3/15/44	3,236		3,988
	Consolidated Edison Co. of New York Inc.	4.500%	12/1/45	2,164		2,707
	Consolidated Edison Co. of New York Inc.	3.850%	6/15/46	358		408
	Consolidated Edison Co. of New York Inc.	3.875%	6/15/47	1,811		2,094
	Consolidated Edison Co. of New York Inc.	4.650%	12/1/48	1,324		1,731
	Consolidated Edison Co. of New York Inc.	4.125%	5/15/49	725		877
	Consolidated Edison Co. of New York Inc.	4.625%	12/1/54	3,010		3,986
	Consolidated Edison Co. of New York Inc.	4.300%	12/1/56	1,593		2,010
	Consolidated Edison Co. of New York Inc.	4.000%	11/15/57	1,075		1,260
	Consolidated Edison Co. of New York Inc.	4.500%	5/15/58	1,925		2,469
	Consolidated Edison Co. of New York Inc.	3.700%	11/15/59	600		686
	Consumers Energy Co.	3.250%	8/15/46	2,021		2,192
	Consumers Energy Co.	4.050%	5/15/48	303		376
	Consumers Energy Co.	4.350%	4/15/49	2,155		2,778
	Consumers Energy Co.	3.100%	8/15/50	2,200		2,371
3	Dayton Power & Light Co.	3.950%	6/15/49	250		281
	Delmarva Power & Light Co.	4.150%	5/15/45	938		1,132
	Dominion Energy Inc.	6.300%	3/15/33	282		388
	Dominion Energy Inc.	5.250%	8/1/33	1,057		1,348
	Dominion Energy Inc.	5.950%	6/15/35	1,428		1,951
	Dominion Energy Inc.	7.000%	6/15/38	476		713
	Dominion Energy Inc.	4.900%	8/1/41	1,785		2,224
	Dominion Energy Inc.	4.050%	9/15/42	1,225		1,375
	Dominion Energy Inc.	4.700%	12/1/44	500		621
	Dominion Energy Inc.	4.600%	3/15/49	785		989
	Dominion Energy South Carolina Inc.	6.625%	2/1/32	555		808
	Dominion Energy South Carolina Inc.	5.300%	5/15/33	705		948
	Dominion Energy South Carolina Inc.	6.050%	1/15/38	1,060		1,554
	Dominion Energy South Carolina Inc.	5.450%	2/1/41	1,096		1,512
	Dominion Energy South Carolina Inc.	4.600%	6/15/43	1,701		2,206

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Dominion Energy South Carolina Inc.	5.100%	6/1/65	695		1,001
DTE Electric Co.	2.250%	3/1/30	1,500		1,522
DTE Electric Co.	4.000%	4/1/43	760		894
DTE Electric Co.	4.300%	7/1/44	201		247
DTE Electric Co.	3.700%	3/15/45	1,853		2,094
DTE Electric Co.	3.700%	6/1/46	550		627
DTE Electric Co.	3.750%	8/15/47	913		1,053
DTE Electric Co.	4.050%	5/15/48	135		163
DTE Electric Co.	3.950%	3/1/49	1,650		1,995
DTE Electric Co.	2.950%	3/1/50	1,275		1,314
DTE Energy Co.	2.950%	3/1/30	2,000		2,078
DTE Energy Co.	6.375%	4/15/33	2,495		3,423
Duke Energy Carolinas LLC	6.450%	10/15/32	168		242
Duke Energy Carolinas LLC	6.100%	6/1/37	1,917		2,771
Duke Energy Carolinas LLC	6.000%	1/15/38	831		1,221
Duke Energy Carolinas LLC	6.050%	4/15/38	1,581		2,301
Duke Energy Carolinas LLC	5.300%	2/15/40	435		600
Duke Energy Carolinas LLC	4.250%	12/15/41	2,036		2,511
Duke Energy Carolinas LLC	4.000%	9/30/42	1,735		2,043
Duke Energy Carolinas LLC	3.750%	6/1/45	1,960		2,301
Duke Energy Carolinas LLC	3.875%	3/15/46	1,075		1,263
Duke Energy Carolinas LLC	3.700%	12/1/47	910		1,040
Duke Energy Carolinas LLC	3.950%	3/15/48	2,690		3,218
Duke Energy Carolinas LLC	3.200%	8/15/49	1,345		1,442
Duke Energy Corp.	4.800%	12/15/45	1,615		2,011
Duke Energy Corp.	3.750%	9/1/46	3,360		3,733
Duke Energy Corp.	3.950%	8/15/47	1,775		2,008
Duke Energy Corp.	4.200%	6/15/49	1,550		1,830
Duke Energy Florida LLC	6.350%	9/15/37	2,200		3,263
Duke Energy Florida LLC	6.400%	6/15/38	951		1,426
Duke Energy Florida LLC	5.650%	4/1/40	775		1,105
Duke Energy Florida LLC	3.850%	11/15/42	325		375
Duke Energy Florida LLC	3.400%	10/1/46	3,023		3,343
Duke Energy Florida LLC	4.200%	7/15/48	1,375		1,726
Duke Energy Indiana LLC	6.120%	10/15/35	1,124		1,605
Duke Energy Indiana LLC	6.350%	8/15/38	1,211		1,827
Duke Energy Indiana LLC	6.450%	4/1/39	1,818		2,794
Duke Energy Indiana LLC	4.900%	7/15/43	734		967
Duke Energy Indiana LLC	3.750%	5/15/46	1,260		1,448
Duke Energy Indiana LLC	3.250%	10/1/49	565		606
Duke Energy Ohio Inc.	4.300%	2/1/49	2,475		3,109
Duke Energy Progress LLC	6.300%	4/1/38	888		1,343
Duke Energy Progress LLC	4.100%	5/15/42	883		1,048
Duke Energy Progress LLC	4.100%	3/15/43	530		625
Duke Energy Progress LLC	4.375%	3/30/44	1,201		1,487
Duke Energy Progress LLC	4.150%	12/1/44	1,285		1,547
Duke Energy Progress LLC	4.200%	8/15/45	1,865		2,291
Duke Energy Progress LLC	3.700%	10/15/46	1,184		1,346
Duke Energy Progress LLC	3.600%	9/15/47	1,500		1,698
El Paso Electric Co.	6.000%	5/15/35	699		917
El Paso Electric Co.	5.000%	12/1/44	963		1,203
Emera US Finance LP	4.750%	6/15/46	3,068		3,715
Entergy Arkansas LLC	4.200%	4/1/49	775		983
Entergy Louisiana LLC	3.050%	6/1/31	1,010		1,095
Entergy Louisiana LLC	4.000%	3/15/33	1,934		2,330
Entergy Louisiana LLC	4.950%	1/15/45	1,533		1,705
Entergy Louisiana LLC	4.200%	9/1/48	2,800		3,533
Entergy Louisiana LLC	4.200%	4/1/50	775		976
Entergy Mississippi LLC	3.850%	6/1/49	910		1,062
Entergy Texas Inc.	4.500%	3/30/39	200		244
Entergy Texas Inc.	3.550%	9/30/49	695		798
Eversource Energy	3.450%	1/15/50	850		895
Exelon Corp.	4.950%	6/15/35	1,615		1,976
Exelon Corp.	5.625%	6/15/35	1,078		1,408

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Exelon Corp.	5.100%	6/15/45	1,880		2,424
	Exelon Corp.	4.450%	4/15/46	1,160		1,383
	Exelon Generation Co. LLC	6.250%	10/1/39	2,232		2,842
	Exelon Generation Co. LLC	5.750%	10/1/41	1,000		1,195
	Exelon Generation Co. LLC	5.600%	6/15/42	1,975		2,350
	FirstEnergy Corp.	2.650%	3/1/30	1,500		1,531
	FirstEnergy Corp.	7.375%	11/15/31	5,150		7,511
	FirstEnergy Corp.	4.850%	7/15/47	2,399		2,965
	FirstEnergy Corp.	3.400%	3/1/50	2,000		2,026
	Florida Power & Light Co.	5.625%	4/1/34	1,150		1,629
	Florida Power & Light Co.	4.950%	6/1/35	921		1,251
	Florida Power & Light Co.	5.650%	2/1/37	537		767
	Florida Power & Light Co.	5.950%	2/1/38	1,800		2,676
	Florida Power & Light Co.	5.960%	4/1/39	2,200		3,348
	Florida Power & Light Co.	5.690%	3/1/40	946		1,390
	Florida Power & Light Co.	5.250%	2/1/41	1,024		1,447
	Florida Power & Light Co.	4.125%	2/1/42	1,090		1,337
	Florida Power & Light Co.	4.050%	6/1/42	2,295		2,785
	Florida Power & Light Co.	3.800%	12/15/42	1,860		2,186
	Florida Power & Light Co.	4.050%	10/1/44	697		852
	Florida Power & Light Co.	3.700%	12/1/47	585		691
	Florida Power & Light Co.	3.950%	3/1/48	410		506
	Florida Power & Light Co.	4.125%	6/1/48	1,120		1,440
	Florida Power & Light Co.	3.990%	3/1/49	2,700		3,362
	Florida Power & Light Co.	3.150%	10/1/49	2,665		2,925
	Georgia Power Co.	4.750%	9/1/40	1,401		1,738
	Georgia Power Co.	4.300%	3/15/42	3,958		4,627
	Georgia Power Co.	4.300%	3/15/43	835		982
	Georgia Power Co.	3.700%	1/30/50	250		278
	Iberdrola International BV	6.750%	7/15/36	854		1,276
	Indiana Michigan Power Co.	6.050%	3/15/37	398		545
	Indiana Michigan Power Co.	4.550%	3/15/46	953		1,201
	Indiana Michigan Power Co.	3.750%	7/1/47	838		949
	Indiana Michigan Power Co.	4.250%	8/15/48	975		1,184
	Interstate Power & Light Co.	6.250%	7/15/39	1,121		1,608
	Interstate Power & Light Co.	3.700%	9/15/46	200		220
	Interstate Power & Light Co.	3.500%	9/30/49	425		472
	ITC Holdings Corp.	5.300%	7/1/43	706		922
1	John Sevier Combined Cycle Generation LLC	4.626%	1/15/42	668		841
	Kansas City Power & Light Co.	5.300%	10/1/41	495		666
	Kansas City Power & Light Co.	4.200%	6/15/47	670		825
	Kansas City Power & Light Co.	4.200%	3/15/48	1,000		1,251
	Kansas City Power & Light Co.	4.125%	4/1/49	1,260		1,565
	Kentucky Utilities Co.	5.125%	11/1/40	922		1,215
	Kentucky Utilities Co.	4.375%	10/1/45	1,540		1,905
	Louisville Gas & Electric Co.	4.250%	4/1/49	2,400		2,970
	MidAmerican Energy Co.	6.750%	12/30/31	275		404
	MidAmerican Energy Co.	5.750%	11/1/35	1,098		1,546
	MidAmerican Energy Co.	5.800%	10/15/36	1,435		2,018
	MidAmerican Energy Co.	4.800%	9/15/43	381		504
	MidAmerican Energy Co.	4.400%	10/15/44	1,439		1,817
	MidAmerican Energy Co.	4.250%	5/1/46	2,100		2,621
	MidAmerican Energy Co.	3.650%	8/1/48	1,645		1,916
	MidAmerican Energy Co.	4.250%	7/15/49	1,595		2,028
	Mississippi Power Co.	4.250%	3/15/42	581		669
	National Rural Utilities Cooperative Finance Corp.	2.400%	3/15/30	1,000		1,036
	National Rural Utilities Cooperative Finance Corp.	8.000%	3/1/32	1,090		1,726
	National Rural Utilities Cooperative Finance Corp.	4.023%	11/1/32	1,230		1,510
	National Rural Utilities Cooperative Finance Corp.	4.400%	11/1/48	900		1,150
	National Rural Utilities Cooperative Finance Corp.	4.300%	3/15/49	3,040		3,849
	Nevada Power Co.	2.400%	5/1/30	1,475		1,506
	Nevada Power Co.	6.650%	4/1/36	593		867
	Nevada Power Co.	6.750%	7/1/37	886		1,340
	Nevada Power Co.	3.125%	8/1/50	920		967

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Northern States Power Co.	6.250%	6/1/36	260		385
Northern States Power Co.	6.200%	7/1/37	711		1,041
Northern States Power Co.	5.350%	11/1/39	550		761
Northern States Power Co.	3.400%	8/15/42	1,125		1,240
Northern States Power Co.	4.125%	5/15/44	1,413		1,727
Northern States Power Co.	4.000%	8/15/45	825		997
Northern States Power Co.	3.600%	5/15/46	1,305		1,492
Northern States Power Co.	3.600%	9/15/47	845		983
Northern States Power Co.	2.900%	3/1/50	2,075		2,164
NorthWestern Corp.	4.176%	11/15/44	1,219		1,468
NSTAR Electric Co.	5.500%	3/15/40	973		1,370
NSTAR Electric Co.	4.400%	3/1/44	265		330
Oglethorpe Power Corp.	5.950%	11/1/39	1,390		1,774
Oglethorpe Power Corp.	5.375%	11/1/40	1,456		1,903
Oglethorpe Power Corp.	5.050%	10/1/48	130		164
Oglethorpe Power Corp.	5.250%	9/1/50	193		240
Ohio Power Co.	4.150%	4/1/48	1,840		2,248
Ohio Power Co.	4.000%	6/1/49	1,120		1,351
Oklahoma Gas & Electric Co.	3.300%	3/15/30	335		370
Oklahoma Gas & Electric Co.	4.150%	4/1/47	675		802
Oklahoma Gas & Electric Co.	3.850%	8/15/47	600		690
Oncor Electric Delivery Co. LLC	7.000%	5/1/32	524		776
Oncor Electric Delivery Co. LLC	7.250%	1/15/33	1,033		1,575
Oncor Electric Delivery Co. LLC	7.500%	9/1/38	850		1,390
Oncor Electric Delivery Co. LLC	5.250%	9/30/40	910		1,248
Oncor Electric Delivery Co. LLC	4.550%	12/1/41	865		1,100
Oncor Electric Delivery Co. LLC	5.300%	6/1/42	1,386		1,920
Oncor Electric Delivery Co. LLC	3.750%	4/1/45	1,025		1,221
Oncor Electric Delivery Co. LLC	3.800%	9/30/47	1,020		1,198
Oncor Electric Delivery Co. LLC	4.100%	11/15/48	1,275		1,601
Oncor Electric Delivery Co. LLC	3.800%	6/1/49	880		1,053
Oncor Electric Delivery Co. LLC	3.100%	9/15/49	1,770		1,878
PacifiCorp	5.250%	6/15/35	585		784
PacifiCorp	6.100%	8/1/36	1,315		1,898
PacifiCorp	5.750%	4/1/37	1,318		1,852
PacifiCorp	6.250%	10/15/37	820		1,216
PacifiCorp	6.350%	7/15/38	875		1,314
PacifiCorp	6.000%	1/15/39	1,052		1,537
PacifiCorp	4.100%	2/1/42	500		604
PacifiCorp	4.125%	1/15/49	3,612		4,441
PacifiCorp	4.150%	2/15/50	2,100		2,599
PECO Energy Co.	5.950%	10/1/36	533		757
PECO Energy Co.	4.150%	10/1/44	1,045		1,265
PECO Energy Co.	3.900%	3/1/48	1,325		1,586
PECO Energy Co.	3.000%	9/15/49	1,000		1,060
Potomac Electric Power Co.	6.500%	11/15/37	1,358		2,031
Potomac Electric Power Co.	4.150%	3/15/43	600		718
PPL Capital Funding Inc.	4.700%	6/1/43	1,685		2,021
PPL Capital Funding Inc.	5.000%	3/15/44	710		879
PPL Capital Funding Inc.	4.000%	9/15/47	1,373		1,534
PPL Electric Utilities Corp.	6.250%	5/15/39	320		482
PPL Electric Utilities Corp.	4.750%	7/15/43	800		1,029
PPL Electric Utilities Corp.	4.125%	6/15/44	960		1,151
PPL Electric Utilities Corp.	4.150%	10/1/45	600		726
PPL Electric Utilities Corp.	3.950%	6/1/47	2,041		2,404
PPL Electric Utilities Corp.	4.150%	6/15/48	1,140		1,405
Progress Energy Inc.	7.750%	3/1/31	848		1,247
Progress Energy Inc.	6.000%	12/1/39	1,332		1,853
PSEG Power LLC	8.625%	4/15/31	2,671		3,883
Public Service Co. of Colorado	6.250%	9/1/37	660		993
Public Service Co. of Colorado	6.500%	8/1/38	330		510
Public Service Co. of Colorado	3.600%	9/15/42	1,411		1,598
Public Service Co. of Colorado	4.300%	3/15/44	818		1,015
Public Service Co. of Colorado	3.800%	6/15/47	847		1,000

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Public Service Co. of Colorado	4.100%	6/15/48	1,325		1,672
Public Service Co. of Colorado	4.050%	9/15/49	1,305		1,601
Public Service Co. of Colorado	3.200%	3/1/50	1,200		1,301
Public Service Co. of New Hampshire	3.600%	7/1/49	950		1,111
Public Service Electric & Gas Co.	5.800%	5/1/37	963		1,381
Public Service Electric & Gas Co.	5.500%	3/1/40	475		664
Public Service Electric & Gas Co.	3.950%	5/1/42	855		1,019
Public Service Electric & Gas Co.	3.650%	9/1/42	955		1,098
Public Service Electric & Gas Co.	3.800%	1/1/43	1,270		1,485
Public Service Electric & Gas Co.	3.800%	3/1/46	691		818
Public Service Electric & Gas Co.	3.600%	12/1/47	360		416
Public Service Electric & Gas Co.	3.850%	5/1/49	1,550		1,873
Public Service Electric & Gas Co.	3.200%	8/1/49	1,100		1,241
Public Service Electric & Gas Co.	3.150%	1/1/50	750		816
Puget Sound Energy Inc.	6.274%	3/15/37	191		275
Puget Sound Energy Inc.	5.757%	10/1/39	1,190		1,671
Puget Sound Energy Inc.	5.795%	3/15/40	772		1,091
Puget Sound Energy Inc.	5.638%	4/15/41	678		944
Puget Sound Energy Inc.	4.300%	5/20/45	1,216		1,517
Puget Sound Energy Inc.	4.223%	6/15/48	2,000		2,475
Puget Sound Energy Inc.	3.250%	9/15/49	775		837
San Diego Gas & Electric Co.	6.000%	6/1/39	629		939
San Diego Gas & Electric Co.	4.500%	8/15/40	1,481		1,884
San Diego Gas & Electric Co.	3.750%	6/1/47	1,065		1,228
San Diego Gas & Electric Co.	4.150%	5/15/48	555		680
San Diego Gas & Electric Co.	4.100%	6/15/49	1,000		1,219
Southern California Edison Co.	6.000%	1/15/34	2,623		3,594
Southern California Edison Co.	5.750%	4/1/35	457		618
Southern California Edison Co.	5.350%	7/15/35	1,186		1,557
Southern California Edison Co.	5.625%	2/1/36	1,665		2,180
Southern California Edison Co.	5.550%	1/15/37	195		256
Southern California Edison Co.	5.950%	2/1/38	1,307		1,805
Southern California Edison Co.	6.050%	3/15/39	1,425		1,984
Southern California Edison Co.	5.500%	3/15/40	1,245		1,670
Southern California Edison Co.	4.500%	9/1/40	931		1,113
Southern California Edison Co.	4.050%	3/15/42	1,100		1,228
Southern California Edison Co.	3.900%	3/15/43	745		817
Southern California Edison Co.	4.650%	10/1/43	426		516
Southern California Edison Co.	3.600%	2/1/45	1,009		1,067
Southern California Edison Co.	4.000%	4/1/47	4,260		4,772
Southern California Edison Co.	4.125%	3/1/48	3,950		4,510
Southern California Edison Co.	4.875%	3/1/49	1,850		2,353
Southern California Edison Co.	3.650%	2/1/50	1,100		1,167
Southern Co.	4.250%	7/1/36	1,132		1,303
Southern Co.	4.400%	7/1/46	5,085		5,936
Southern Power Co.	5.150%	9/15/41	998		1,217
Southern Power Co.	5.250%	7/15/43	960		1,211
Southern Power Co.	4.950%	12/15/46	1,110		1,346
Southwestern Electric Power Co.	6.200%	3/15/40	1,000		1,395
Southwestern Electric Power Co.	3.900%	4/1/45	1,227		1,364
Southwestern Electric Power Co.	3.850%	2/1/48	1,117		1,237
Southwestern Public Service Co.	4.500%	8/15/41	1,161		1,472
Southwestern Public Service Co.	3.400%	8/15/46	730		797
Southwestern Public Service Co.	3.700%	8/15/47	344		391
Southwestern Public Service Co.	4.400%	11/15/48	190		244
Southwestern Public Service Co.	3.750%	6/15/49	2,068		2,395
Tampa Electric Co.	4.100%	6/15/42	170		198
Tampa Electric Co.	4.350%	5/15/44	1,165		1,473
Tampa Electric Co.	4.300%	6/15/48	1,075		1,332
Tampa Electric Co.	4.450%	6/15/49	650		824
Tampa Electric Co.	3.625%	6/15/50	950		1,078
Toledo Edison Co.	6.150%	5/15/37	313		456
Tucson Electric Power Co.	4.850%	12/1/48	760		1,000
Union Electric Co.	5.300%	8/1/37	628		840

100

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

	Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
Union Electric Co.	8.450%	3/15/39	895		1,597
Union Electric Co.	3.900%	9/15/42	877		1,023
Union Electric Co.	3.650%	4/15/45	1,240		1,400
Union Electric Co.	4.000%	4/1/48	1,205		1,450
Union Electric Co.	3.250%	10/1/49	1,300		1,412
Virginia Electric & Power Co.	6.000%	1/15/36	2,020		2,828
Virginia Electric & Power Co.	6.000%	5/15/37	1,963		2,846
Virginia Electric & Power Co.	6.350%	11/30/37	1,163		1,733
Virginia Electric & Power Co.	8.875%	11/15/38	1,643		3,006
Virginia Electric & Power Co.	4.000%	1/15/43	2,277		2,645
Virginia Electric & Power Co.	4.650%	8/15/43	192		250
Virginia Electric & Power Co.	4.450%	2/15/44	2,129		2,652
Virginia Electric & Power Co.	4.200%	5/15/45	1,800		2,173
Virginia Electric & Power Co.	4.000%	11/15/46	1,543		1,862
Virginia Electric & Power Co.	3.800%	9/15/47	2,099		2,497
Virginia Electric & Power Co.	4.600%	12/1/48	350		457
Virginia Electric & Power Co.	3.300%	12/1/49	1,336		1,435
Westar Energy Inc.	4.125%	3/1/42	1,173		1,414
Westar Energy Inc.	4.100%	4/1/43	1,549		1,863
Westar Energy Inc.	4.250%	12/1/45	1,457		1,788
Wisconsin Electric Power Co.	5.625%	5/15/33	535		730
Wisconsin Electric Power Co.	5.700%	12/1/36	300		419
Wisconsin Electric Power Co.	4.300%	10/15/48	1,350		1,679
Wisconsin Power & Light Co.	6.375%	8/15/37	799		1,176
Wisconsin Public Service Corp.	3.671%	12/1/42	1,085		1,218
Wisconsin Public Service Corp.	4.752%	11/1/44	1,193		1,560
Wisconsin Public Service Corp.	3.300%	9/1/49	150		162
Xcel Energy Inc.	6.500%	7/1/36	575		826
Xcel Energy Inc.	3.500%	12/1/49	1,130		1,237
Natural Gas (1.0%)
Atmos Energy Corp.	5.500%	6/15/41	230		315
Atmos Energy Corp.	4.150%	1/15/43	1,347		1,612
Atmos Energy Corp.	4.125%	10/15/44	2,383		2,864
Atmos Energy Corp.	4.300%	10/1/48	325		410
Atmos Energy Corp.	4.125%	3/15/49	1,725		2,108
Atmos Energy Corp.	3.375%	9/15/49	1,925		2,123
CenterPoint Energy Resources Corp.	5.850%	1/15/41	1,183		1,601
CenterPoint Energy Resources Corp.	4.100%	9/1/47	859		994
KeySpan Corp.	5.803%	4/1/35	390		501
NiSource Finance Corp.	5.950%	6/15/41	1,147		1,570
NiSource Finance Corp.	5.250%	2/15/43	1,415		1,817
NiSource Finance Corp.	4.800%	2/15/44	1,941		2,399
NiSource Finance Corp.	5.650%	2/1/45	1,425		1,925
NiSource Finance Corp.	4.375%	5/15/47	2,840		3,336
NiSource Finance Corp.	3.950%	3/30/48	775		867
ONE Gas Inc.	4.658%	2/1/44	1,271		1,626
ONE Gas Inc.	4.500%	11/1/48	1,375		1,778
Piedmont Natural Gas Co. Inc.	4.650%	8/1/43	325		396
Piedmont Natural Gas Co. Inc.	3.640%	11/1/46	980		1,050
Sempra Energy	3.800%	2/1/38	3,780		4,144
Sempra Energy	6.000%	10/15/39	1,942		2,664
Sempra Energy	4.000%	2/1/48	1,850		2,072
Southern California Gas Co.	5.125%	11/15/40	640		845
Southern California Gas Co.	3.750%	9/15/42	1,550		1,790
Southern California Gas Co.	4.125%	6/1/48	340		419
Southern California Gas Co.	4.300%	1/15/49	910		1,150
Southern California Gas Co.	3.950%	2/15/50	1,200		1,507
Southern Co. Gas Capital Corp.	5.875%	3/15/41	1,245		1,696
Southern Co. Gas Capital Corp.	4.400%	6/1/43	1,230		1,433
Southern Co. Gas Capital Corp.	3.950%	10/1/46	1,890		2,095
Southern Co. Gas Capital Corp.	4.400%	5/30/47	1,000		1,193
Southwest Gas Corp.	3.800%	9/29/46	550		617
Southwest Gas Corp.	4.150%	6/1/49	800		969

101

Vanguard^® Long-Term Corporate Bond Index Fund

Schedule of Investments

February 29, 2020

		Coupon	Maturity Date	Face Amount ($000	)	Market Value ($000	)
	Washington Gas Light Co.	3.796%	9/15/46	993		1,108
	Other Utility (0.2%)
	American Water Capital Corp.	6.593%	10/15/37	1,553		2,382
	American Water Capital Corp.	4.300%	12/1/42	1,315		1,565
	American Water Capital Corp.	4.300%	9/1/45	1,165		1,415
	American Water Capital Corp.	4.000%	12/1/46	665		796
	American Water Capital Corp.	3.750%	9/1/47	1,638		1,865
	American Water Capital Corp.	4.200%	9/1/48	1,355		1,653
	American Water Capital Corp.	4.150%	6/1/49	1,775		2,114
	Essential Utilities Inc.	4.276%	5/1/49	995		1,210
	Veolia Environnement SA	6.750%	6/1/38	222		334
						672,948
Total Corporate Bonds (Cost $4,724,988)						5,347,502
Taxable Municipal Bonds (0.2%)
	California Institute of Technology Taxable	3.650%	9/1/19	250		294
	George Washington University	4.300%	9/15/44	980		1,252
	George Washington University	4.868%	9/15/45	865		1,231
	George Washington University	4.126%	9/15/48	1,474		1,914
	Michigan Finance Authority Revenue (Trinity Health Credit Group)	3.084%	12/1/34	725		793
	Michigan Finance Authority Revenue (Trinity Health Credit Group)	3.384%	12/1/40	1,300		1,465
	Princeton University	5.700%	3/1/39	615		926
	University of Southern California	5.250%	10/1/11	1,020		1,705
Total Taxable Municipal Bonds (Cost $8,347)						9,580

				Shares
Temporary Cash Investment (0.9%)
Money Market Fund
4	Vanguard Market Liquidity Fund (Cost $51,297)	1.706%		512,823		51,298
Total Investments (99.9%) (Cost $4,824,866)						5,448,755
Other Assets and Liabilities—Net (0.1%)						5,823
Net Assets (100%)						5,454,578
Cost rounded to $000

1	The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.
2	Securities with a value of $255,000 have been segregated as initial margin for recently closed futures contracts.
3	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 February 29, 2020, the aggregate value of these securities was $105,315,000, representing 1.9% of net assets.
4	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

102

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SNA16422 042020

Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8: Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10: Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 11: Controls and Procedures.

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. There were no significant changes in Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 12: Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies.

Not applicable.

Item 13: Exhibits.

(a)

Certifications.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

VANGUARD SCOTTSDALE FUNDS

BY: /s/ MORTIMER J. BUCKLEY*

___________________________

MORTIMER J. BUCKLEY

CHIEF EXECUTIVE OFFICER

Date: April 17, 2020

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

VANGUARD SCOTTSDALE FUNDS

BY: /s/ MORTIMER J. BUCKLEY*

___________________________

MORTIMER J. BUCKLEY

CHIEF EXECUTIVE OFFICER

Date: April 17, 2020

VANGUARD SCOTTSDALE FUNDS

BY: /s/ JOHN BENDL*

___________________________

JOHN BENDL

CHIEF FINANCIAL OFFICER

Date: April 17, 2020

* By: /s/ Anne E. Robinson

Anne E. Robinson, pursuant to a Power of Attorney filed on January 18, 2018 (see file Number 33-32216) and a Power of Attorney filed on October 30, 2019 (see file Number 811-02554), Incorporated by Reference.