Shares | Market Value ($000) | ||
Common Stocks (95.8%) | |||
Communication Services (8.1%) | |||
* | Alphabet Inc. Class A | 671,073 | 1,808,226 |
* | Alphabet Inc. Class C | 292,365 | 790,678 |
* | Facebook Inc. Class A | 1,722,738 | 613,812 |
* | Twitter Inc. | 4,540,000 | 316,665 |
* | Discovery Inc. Class C | 9,490,148 | 257,278 |
* | Walt Disney Co. | 1,448,581 | 254,979 |
News Corp. Class A | 7,309,310 | 180,028 | |
Vodafone Group plc ADR | 10,811,932 | 176,559 | |
Comcast Corp. Class A | 2,884,213 | 169,678 | |
Interpublic Group of Cos. Inc. | 2,230,783 | 78,881 | |
Omnicom Group Inc. | 913,679 | 66,534 | |
4,713,318 | |||
Consumer Discretionary (10.9%) | |||
* | Amazon.com Inc. | 203,145 | 675,983 |
Lennar Corp. Class A | 6,047,759 | 635,922 | |
* | General Motors Co. | 9,370,943 | 532,644 |
McDonald's Corp. | 2,188,469 | 531,163 | |
Lowe's Cos. Inc. | 2,057,211 | 396,404 | |
Dollar General Corp. | 1,668,001 | 388,044 | |
Sony Group Corp. ADR | 3,375,000 | 352,012 | |
DR Horton Inc. | 3,372,510 | 321,839 | |
* | Aptiv plc | 1,858,543 | 310,098 |
Starbucks Corp. | 2,513,510 | 305,216 | |
Home Depot Inc. | 912,660 | 299,526 | |
Cie Generale des Etablissements Michelin SCA ADR | 8,570,000 | 280,068 | |
Magna International Inc. | 3,276,932 | 274,705 | |
Daimler AG (Registered) | 2,159,229 | 192,688 | |
* | Booking Holdings Inc. | 85,400 | 186,023 |
* | Dollar Tree Inc. | 1,860,566 | 185,666 |
Ross Stores Inc. | 1,211,380 | 148,624 | |
Bayerische Motoren Werke AG | 1,371,126 | 136,333 | |
Genuine Parts Co. | 496,042 | 62,958 | |
Harley-Davidson Inc. | 1,395,273 | 55,281 | |
* | Adient plc | 1,311,943 | 55,272 |
* | Goodyear Tire & Rubber Co. | 3,226,296 | 50,685 |
Lennar Corp. Class B | 46,457 | 4,012 | |
6,381,166 | |||
Consumer Staples (5.2%) | |||
Procter & Gamble Co. | 5,546,166 | 788,831 | |
Coca-Cola Co. | 11,667,954 | 665,423 | |
PepsiCo Inc. | 2,460,473 | 386,171 |
Shares | Market Value ($000) | ||
Sysco Corp. | 3,191,615 | 236,818 | |
Unilever plc ADR | 3,871,398 | 222,722 | |
Tyson Foods Inc. Class A | 2,787,779 | 199,215 | |
Unilever plc (XLON) | 2,934,900 | 168,908 | |
Nestle SA (Registered) | 1,050,073 | 132,970 | |
Mondelez International Inc. Class A | 2,026,888 | 128,221 | |
Walgreens Boots Alliance Inc. | 2,100,000 | 99,015 | |
3,028,294 | |||
Energy (4.3%) | |||
ConocoPhillips | 7,751,334 | 434,540 | |
Marathon Oil Corp. | 26,018,487 | 301,554 | |
Halliburton Co. | 11,140,235 | 230,380 | |
1 | Royal Dutch Shell plc Class A ADR | 5,594,412 | 227,245 |
Hess Corp. | 2,939,167 | 224,670 | |
APA Corp. | 11,201,377 | 210,026 | |
Cabot Oil & Gas Corp. | 10,471,000 | 167,536 | |
Suncor Energy Inc. | 7,518,132 | 147,581 | |
Phillips 66 | 1,990,000 | 146,126 | |
* | NOV Inc. | 10,076,888 | 139,162 |
Marathon Petroleum Corp. | 1,680,189 | 92,780 | |
Schlumberger NV | 2,915,800 | 84,062 | |
Baker Hughes Co. Class A | 3,043,100 | 64,635 | |
Murphy Oil Corp. | 2,182,252 | 47,377 | |
2,517,674 | |||
Financials (17.2%) | |||
Wells Fargo & Co. | 21,388,108 | 982,570 | |
Bank of America Corp. | 25,075,707 | 961,904 | |
Citigroup Inc. | 13,406,558 | 906,551 | |
Intercontinental Exchange Inc. | 6,004,149 | 719,477 | |
JPMorgan Chase & Co. | 4,700,621 | 713,460 | |
American International Group Inc. | 13,087,256 | 619,682 | |
American Express Co. | 3,553,707 | 606,014 | |
PNC Financial Services Group Inc. | 2,569,755 | 468,749 | |
Capital One Financial Corp. | 2,453,000 | 396,650 | |
Marsh & McLennan Cos. Inc. | 2,343,356 | 344,989 | |
Commerce Bancshares Inc. | 4,348,061 | 307,538 | |
Ameriprise Financial Inc. | 1,057,000 | 272,241 | |
Cincinnati Financial Corp. | 2,192,000 | 258,393 | |
Goldman Sachs Group Inc. | 588,649 | 220,673 | |
Bank of New York Mellon Corp. | 4,029,434 | 206,831 | |
* | Berkshire Hathaway Inc. Class B | 728,900 | 202,846 |
Chubb Ltd. | 1,121,000 | 189,157 | |
Cullen/Frost Bankers Inc. | 1,702,000 | 182,659 | |
Travelers Cos. Inc. | 1,204,992 | 179,447 | |
BNP Paribas SA | 2,782,700 | 169,687 | |
Truist Financial Corp. | 2,831,319 | 154,109 | |
Hartford Financial Services Group Inc. | 2,324,200 | 147,866 | |
Credit Suisse Group AG ADR | 12,213,200 | 122,743 | |
1 | Mitsubishi UFJ Financial Group Inc. ADR | 19,937,000 | 105,865 |
East West Bancorp Inc. | 1,453,000 | 103,381 | |
Citizens Financial Group Inc. | 2,229,251 | 93,985 | |
CIT Group Inc. | 1,947,710 | 93,957 | |
Synchrony Financial | 1,589,451 | 74,736 | |
Natwest Group plc | 20,774,647 | 58,309 | |
State Street Corp. | 665,188 | 57,964 | |
Equitable Holdings Inc. | 1,842,040 | 56,864 | |
China Construction Bank Corp. Class H | 51,864,000 | 36,125 |
Shares | Market Value ($000) | ||
Sumitomo Mitsui Financial Group Inc. | 963,900 | 32,492 | |
* | Banco de Sabadell SA | 36,345,074 | 25,269 |
10,073,183 | |||
Health Care (17.0%) | |||
Medtronic plc | 11,408,805 | 1,498,090 | |
Johnson & Johnson | 5,723,877 | 985,652 | |
Danaher Corp. | 3,128,904 | 930,818 | |
UnitedHealth Group Inc. | 1,883,543 | 776,434 | |
Anthem Inc. | 1,944,238 | 746,607 | |
HCA Healthcare Inc. | 2,229,500 | 553,362 | |
Thermo Fisher Scientific Inc. | 786,468 | 424,701 | |
Humana Inc. | 862,514 | 367,310 | |
Cigna Corp. | 1,502,773 | 344,871 | |
* | Boston Scientific Corp. | 6,679,168 | 304,570 |
Roche Holding AG | 776,049 | 299,797 | |
Pfizer Inc. | 6,548,831 | 280,355 | |
Zoetis Inc. | 1,346,898 | 273,016 | |
Amgen Inc. | 1,116,000 | 269,559 | |
* | IQVIA Holdings Inc. | 957,951 | 237,284 |
* | Elanco Animal Health Inc. (XNYS) | 6,499,000 | 237,019 |
Alcon Inc. | 3,105,000 | 226,044 | |
Novartis AG ADR | 1,947,000 | 179,883 | |
GlaxoSmithKline plc ADR | 4,176,194 | 167,632 | |
* | Centene Corp. | 2,232,688 | 153,185 |
* | Laboratory Corp. of America Holdings | 502,377 | 148,779 |
CVS Health Corp. | 1,463,500 | 120,534 | |
Sanofi ADR | 2,209,191 | 113,906 | |
Bristol-Myers Squibb Co. | 1,123,900 | 76,279 | |
Zimmer Biomet Holdings Inc. | 440,508 | 71,988 | |
Eli Lilly & Co. | 267,320 | 65,092 | |
AbbVie Inc. | 544,967 | 63,380 | |
Merck & Co. Inc. | 442,329 | 34,002 | |
* | Organon & Co. | 44,232 | 1,283 |
9,951,432 | |||
Industrials (8.1%) | |||
Honeywell International Inc. | 4,182,748 | 977,885 | |
General Electric Co. | 44,863,884 | 580,987 | |
FedEx Corp. | 1,484,977 | 415,719 | |
Norfolk Southern Corp. | 1,458,003 | 375,917 | |
Waste Management Inc. | 2,135,940 | 316,674 | |
Johnson Controls International plc | 4,410,000 | 314,962 | |
Parker-Hannifin Corp. | 979,000 | 305,477 | |
Xylem Inc. | 2,400,000 | 302,040 | |
CNH Industrial NV | 15,693,799 | 264,284 | |
General Dynamics Corp. | 1,018,000 | 199,559 | |
Cummins Inc. | 714,472 | 165,829 | |
Caterpillar Inc. | 738,613 | 152,708 | |
Raytheon Technologies Corp. | 1,531,400 | 133,155 | |
PACCAR Inc. | 1,427,720 | 118,487 | |
Stanley Black & Decker Inc. | 334,890 | 65,990 | |
* | Fluor Corp. | 1,993,085 | 33,205 |
4,722,878 | |||
Information Technology (19.9%) | |||
Microsoft Corp. | 9,975,013 | 2,841,981 | |
Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 6,298,485 | 734,655 | |
* | Adobe Inc. | 1,118,707 | 695,422 |
Visa Inc. Class A | 2,662,135 | 655,923 |
Shares | Market Value ($000) | ||
Samsung Electronics Co. Ltd. | 8,514,100 | 581,823 | |
Apple Inc. | 3,764,348 | 549,068 | |
* | Micron Technology Inc. | 6,402,023 | 496,669 |
Cisco Systems Inc. | 8,442,823 | 467,479 | |
Texas Instruments Inc. | 2,282,946 | 435,175 | |
Analog Devices Inc. | 2,309,512 | 386,659 | |
* | ANSYS Inc. | 1,042,000 | 383,935 |
QUALCOMM Inc. | 2,191,000 | 328,212 | |
* | salesforce.com Inc. | 1,258,934 | 304,574 |
Microchip Technology Inc. | 2,092,000 | 299,407 | |
* | PayPal Holdings Inc. | 1,068,000 | 294,266 |
Accenture plc Class A | 769,234 | 244,370 | |
Amphenol Corp. Class A | 3,350,112 | 242,850 | |
* | F5 Networks Inc. | 1,166,100 | 240,811 |
Oracle Corp. | 2,554,025 | 222,558 | |
Fidelity National Information Services Inc. | 1,391,422 | 207,391 | |
Corning Inc. | 4,483,651 | 187,686 | |
TE Connectivity Ltd. | 1,179,766 | 173,980 | |
Hewlett Packard Enterprise Co. | 9,685,341 | 140,437 | |
CDW Corp. | 631,698 | 115,822 | |
Telefonaktiebolaget LM Ericsson ADR | 10,016,480 | 115,490 | |
* | Palo Alto Networks Inc. | 276,009 | 110,141 |
Applied Materials Inc. | 780,230 | 109,178 | |
Cognizant Technology Solutions Corp. Class A | 937,900 | 68,964 | |
11,634,926 | |||
Materials (2.0%) | |||
Corteva Inc. | 6,961,000 | 297,792 | |
Martin Marietta Materials Inc. | 807,000 | 293,183 | |
RPM International Inc. | 2,570,000 | 222,536 | |
Ecolab Inc. | 676,701 | 149,436 | |
Avery Dennison Corp. | 700,226 | 147,524 | |
International Paper Co. | 1,051,929 | 60,759 | |
1,171,230 | |||
Other (0.7%) | |||
SPDR S&P 500 ETF Trust | 997,873 | 437,577 | |
Real Estate (1.7%) | |||
Prologis Inc. | 3,145,211 | 402,713 | |
Crown Castle International Corp. | 1,627,000 | 314,158 | |
Sun Communities Inc. | 720,000 | 141,199 | |
Equity LifeStyle Properties Inc. | 1,600,000 | 134,080 | |
992,150 | |||
Utilities (0.7%) | |||
PPL Corp. | 11,229,703 | 318,587 | |
Southern Co. | 994,110 | 63,494 | |
382,081 | |||
Total Common Stocks (Cost $34,328,561) | 56,005,909 |
Shares | Market Value ($000) | ||
Temporary Cash Investments (4.1%) | |||
Money Market Fund (4.1%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.064% (Cost $2,414,689) | 24,148,417 | 2,414,842 |
Total Investments (99.9%) (Cost $36,743,250) | 58,420,751 | ||
Other Assets and Liabilities—Net (0.1%) | 34,481 | ||
Net Assets (100%) | 58,455,232 | ||
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 $4,293,000. |
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 $4,850,000 was received for securities on loan. |
ADR—American Depositary Receipt. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2021 | 4,734 | 1,038,995 | 35,586 |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 54,171,508 | 1,834,401 | — | 56,005,909 |
Temporary Cash Investments | 2,414,842 | — | — | 2,414,842 |
Total | 56,586,350 | 1,834,401 | — | 58,420,751 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 35,586 | — | — | 35,586 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |