Shares | Market Value ($000) | ||
Common Stocks (99.6%) | |||
Basic Materials (1.3%) | |||
Newmont Corp. | 8,236 | 545 | |
Balchem Corp. | 786 | 109 | |
Fastenal Co. | 556 | 29 | |
683 | |||
Consumer Discretionary (10.0%) | |||
Service Corp. International | 11,426 | 695 | |
Dollar General Corp. | 3,200 | 635 | |
Costco Wholesale Corp. | 1,208 | 627 | |
* | Amazon.com Inc. | 175 | 538 |
H&R Block Inc. | 14,884 | 369 | |
Electronic Arts Inc. | 2,721 | 354 | |
Hasbro Inc. | 2,351 | 228 | |
Walmart Inc. | 1,665 | 225 | |
Laureate Education Inc. Class A | 20,018 | 217 | |
McDonald's Corp. | 878 | 215 | |
Target Corp. | 937 | 187 | |
World Wrestling Entertainment Inc. Class A | 3,134 | 186 | |
Domino's Pizza Inc. | 389 | 168 | |
* | Sportsman's Warehouse Holdings Inc. | 12,931 | 148 |
1 | Sirius XM Holdings Inc. | 20,019 | 123 |
* | frontdoor Inc. | 3,768 | 113 |
* | Madison Square Garden Sports Corp. | 545 | 94 |
* | QuinStreet Inc. | 6,132 | 69 |
* | Bright Horizons Family Solutions Inc. | 266 | 35 |
5,226 | |||
Consumer Staples (8.2%) | |||
Procter & Gamble Co. | 5,059 | 789 | |
Church & Dwight Co. Inc. | 7,674 | 751 | |
Hershey Co. | 3,645 | 737 | |
Flowers Foods Inc. | 24,762 | 679 | |
Colgate-Palmolive Co. | 7,088 | 546 | |
Mondelez International Inc. Class A | 5,089 | 333 | |
Hormel Foods Corp. | 5,462 | 260 | |
Lancaster Colony Corp. | 375 | 63 | |
PepsiCo Inc. | 381 | 62 | |
Kimberly-Clark Corp. | 427 | 56 | |
John B Sanfilippo & Son Inc. | 117 | 9 | |
4,285 | |||
Energy (3.8%) | |||
Williams Cos. Inc. | 28,567 | 893 | |
Chevron Corp. | 4,331 | 624 |
Shares | Market Value ($000) | ||
Kinder Morgan Inc. | 17,370 | 302 | |
Cheniere Energy Inc. | 1,270 | 169 | |
1,988 | |||
Financials (11.4%) | |||
Intercontinental Exchange Inc. | 5,945 | 762 | |
Marsh & McLennan Cos. Inc. | 4,750 | 738 | |
Waterstone Financial Inc. | 35,240 | 689 | |
First Financial Corp. | 13,012 | 605 | |
* | Columbia Financial Inc. | 26,692 | 567 |
Northwest Bancshares Inc. | 35,115 | 495 | |
Broadridge Financial Solutions Inc. | 3,094 | 452 | |
CME Group Inc. | 1,847 | 437 | |
Stock Yards Bancorp Inc. | 4,179 | 224 | |
* | Blue Foundry Bancorp | 15,170 | 211 |
Arthur J Gallagher & Co. | 916 | 145 | |
Progressive Corp. | 1,323 | 140 | |
Westamerica BanCorp. | 2,276 | 135 | |
HarborOne Bancorp Inc. | 7,498 | 111 | |
TFS Financial Corp. | 6,193 | 106 | |
Bank First Corp. | 700 | 49 | |
Bank of Marin Bancorp | 1,114 | 39 | |
Hingham Institution for Savings | 108 | 39 | |
Macatawa Bank Corp. | 3,740 | 34 | |
5,978 | |||
Health Care (17.0%) | |||
Bristol-Myers Squibb Co. | 12,395 | 851 | |
Becton Dickinson and Co. | 2,967 | 805 | |
Amgen Inc. | 3,500 | 793 | |
Johnson & Johnson | 4,597 | 756 | |
Eli Lilly & Co. | 3,013 | 753 | |
Gilead Sciences Inc. | 12,145 | 734 | |
Baxter International Inc. | 8,416 | 715 | |
Merck & Co. Inc. | 8,606 | 659 | |
AbbVie Inc. | 3,908 | 577 | |
* | Vertex Pharmaceuticals Inc. | 2,384 | 548 |
Abbott Laboratories | 4,461 | 538 | |
* | HealthStream Inc. | 22,486 | 461 |
Danaher Corp. | 578 | 159 | |
Pfizer Inc. | 2,976 | 140 | |
Zoetis Inc. | 474 | 92 | |
* | Veeva Systems Inc. Class A | 357 | 82 |
* | Regeneron Pharmaceuticals Inc. | 126 | 78 |
ResMed Inc. | 260 | 64 | |
* | Computer Programs and Systems Inc. | 1,991 | 61 |
* | 2seventy bio Inc. | 622 | 9 |
8,875 | |||
Industrials (7.3%) | |||
Sonoco Products Co. | 12,985 | 762 | |
* | FTI Consulting Inc. | 5,197 | 759 |
Accenture plc Class A | 1,553 | 491 | |
Lockheed Martin Corp. | 891 | 387 | |
Illinois Tool Works Inc. | 1,721 | 372 | |
Jack Henry & Associates Inc. | 1,965 | 347 | |
Landstar System Inc. | 1,483 | 229 | |
3M Co. | 1,511 | 225 | |
AptarGroup Inc. | 867 | 106 | |
* | OSI Systems Inc. | 1,317 | 106 |
Shares | Market Value ($000) | ||
Ball Corp. | 329 | 30 | |
Verisk Analytics Inc. Class A | 137 | 24 | |
3,838 | |||
Real Estate (1.6%) | |||
* | Equity Commonwealth | 31,557 | 838 |
Technology (21.3%) | |||
Apple Inc. | 4,957 | 818 | |
* | Verint Systems Inc. | 15,548 | 781 |
* | Alphabet Inc. Class A | 277 | 748 |
NortonLifeLock Inc. | 25,340 | 734 | |
Microsoft Corp. | 2,432 | 727 | |
Oracle Corp. | 8,616 | 655 | |
Texas Instruments Inc. | 3,828 | 651 | |
* | TTM Technologies Inc. | 51,610 | 649 |
* | Tyler Technologies Inc. | 1,501 | 643 |
* | Adobe Inc. | 1,221 | 571 |
CDK Global Inc. | 9,891 | 448 | |
Intuit Inc. | 817 | 388 | |
* | Cadence Design Systems Inc. | 2,376 | 360 |
* | Altair Engineering Inc. Class A | 5,252 | 349 |
* | Super Micro Computer Inc. | 7,808 | 307 |
* | Cirrus Logic Inc. | 3,398 | 295 |
* | Black Knight Inc. | 5,037 | 283 |
* | Envestnet Inc. | 3,710 | 278 |
* | Meta Platforms Inc. Class A | 953 | 201 |
Amdocs Ltd. | 2,344 | 184 | |
Hewlett Packard Enterprise Co. | 11,178 | 178 | |
NetApp Inc. | 2,226 | 174 | |
Shutterstock Inc. | 1,150 | 104 | |
* | PDF Solutions Inc. | 3,630 | 99 |
* | Rambus Inc. | 3,414 | 92 |
SS&C Technologies Holdings Inc. | 1,096 | 82 | |
Dolby Laboratories Inc. Class A | 856 | 64 | |
Analog Devices Inc. | 361 | 58 | |
VMware Inc. Class A | 493 | 58 | |
Dell Technologies Inc. Class C | 1,121 | 57 | |
* | Allscripts Healthcare Solutions Inc. | 2,514 | 49 |
Broadcom Inc. | 35 | 21 | |
Intel Corp. | 246 | 12 | |
11,118 | |||
Telecommunications (9.4%) | |||
Verizon Communications Inc. | 15,024 | 806 | |
* | T-Mobile US Inc. | 6,313 | 778 |
AT&T Inc. | 32,480 | 769 | |
* | Liberty Broadband Corp. Class A | 3,930 | 569 |
* | Charter Communications Inc. Class A | 872 | 525 |
Cable One Inc. | 219 | 314 | |
Comcast Corp. Class A | 6,576 | 308 | |
Shenandoah Telecommunications Co. | 11,557 | 258 | |
* | Anterix Inc. | 4,112 | 219 |
Cisco Systems Inc. | 3,774 | 210 | |
* | Liberty Broadband Corp. Class C | 654 | 96 |
Motorola Solutions Inc. | 85 | 19 | |
Cogent Communications Holdings Inc. | 223 | 14 | |
4,885 |
Shares | Market Value ($000) | ||
Utilities (8.3%) | |||
Consolidated Edison Inc. | 9,156 | 785 | |
Republic Services Inc. Class A | 5,931 | 714 | |
PPL Corp. | 26,634 | 697 | |
WEC Energy Group Inc. | 5,431 | 494 | |
Duke Energy Corp. | 4,820 | 484 | |
American Water Works Co. Inc. | 1,660 | 251 | |
Waste Management Inc. | 1,726 | 249 | |
American Electric Power Co. Inc. | 1,613 | 146 | |
Eversource Energy | 1,342 | 110 | |
NextEra Energy Inc. | 1,339 | 105 | |
Xcel Energy Inc. | 1,474 | 99 | |
CMS Energy Corp. | 1,052 | 67 | |
Ameren Corp. | 770 | 66 | |
DTE Energy Co. | 513 | 62 | |
American States Water Co. | 305 | 26 | |
4,355 | |||
Total Common Stocks (Cost $46,716) | 52,069 | ||
Temporary Cash Investments (0.5%) | |||
Money Market Fund (0.5%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.138% (Cost $287) | 2,870 | 287 |
Total Investments (100.1%) (Cost $47,003) | 52,356 | ||
Other Assets and Liabilities—Net (-0.1%) | (51) | ||
Net Assets (100%) | 52,305 | ||
Cost is in $000. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $117,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $133,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Micro E-mini S&P 500 Index | March 2022 | 8 | 175 | (10) |