Shares | Market Value ($000) | ||
Common Stocks (97.8%) | |||
Communication Services (6.5%) | |||
* | T-Mobile US Inc. | 2,819,668 | 403,382 |
* | Meta Platforms Inc. Class A | 2,533,073 | 403,012 |
Cable One Inc. | 141,567 | 194,892 | |
Electronic Arts Inc. | 1,450,244 | 190,316 | |
* | Match Group Inc. | 2,092,727 | 153,418 |
* | Charter Communications Inc. Class A | 319,625 | 138,110 |
Verizon Communications Inc. | 220,056 | 10,164 | |
1,493,294 | |||
Consumer Discretionary (10.6%) | |||
Lear Corp. | 1,381,940 | 208,866 | |
* | Las Vegas Sands Corp. | 5,429,664 | 204,644 |
Lennar Corp. Class A | 2,289,252 | 194,586 | |
Newell Brands Inc. | 9,598,638 | 193,989 | |
Gildan Activewear Inc. | 6,139,590 | 180,013 | |
TJX Cos. Inc. | 2,900,364 | 177,386 | |
Compass Group plc | 6,442,644 | 150,993 | |
* | Airbnb Inc. Class A | 1,313,671 | 145,791 |
* | Skechers USA Inc. Class A | 3,634,099 | 137,950 |
* | Mohawk Industries Inc. | 1,060,308 | 136,228 |
* | Booking Holdings Inc. | 69,452 | 134,438 |
* | Dollar Tree Inc. | 786,971 | 130,134 |
Ross Stores Inc. | 1,403,683 | 114,063 | |
* | CarMax Inc. | 1,028,074 | 102,335 |
* | General Motors Co. | 2,756,159 | 99,938 |
PVH Corp. | 1,588,525 | 98,362 | |
2,409,716 | |||
Consumer Staples (3.5%) | |||
Keurig Dr Pepper Inc. | 8,159,917 | 316,115 | |
Philip Morris International Inc. | 2,555,679 | 248,284 | |
Unilever plc (XLON) | 4,906,481 | 238,960 | |
803,359 | |||
Energy (6.3%) | |||
Canadian Natural Resources Ltd. | 5,169,391 | 285,350 | |
Schlumberger NV | 7,457,803 | 276,162 | |
Exxon Mobil Corp. | 1,662,536 | 161,150 | |
Halliburton Co. | 5,301,974 | 155,348 | |
NOV Inc. | 7,869,660 | 146,454 | |
ConocoPhillips | 1,446,005 | 140,884 | |
Shell plc ADR | 2,086,504 | 111,378 | |
Diamondback Energy Inc. | 847,203 | 108,459 |
Shares | Market Value ($000) | ||
Baker Hughes Co. Class A | 2,230,085 | 57,291 | |
1,442,476 | |||
Financials (19.2%) | |||
MetLife Inc. | 6,661,395 | 421,333 | |
Charles Schwab Corp. | 5,740,935 | 396,412 | |
Chubb Ltd. | 1,652,200 | 311,671 | |
Voya Financial Inc. | 4,966,762 | 298,800 | |
Equitable Holdings Inc. | 10,508,227 | 298,749 | |
Raymond James Financial Inc. | 2,478,301 | 244,038 | |
S&P Global Inc. | 595,285 | 224,381 | |
Wells Fargo & Co. | 4,933,654 | 216,439 | |
Globe Life Inc. | 2,100,416 | 211,575 | |
Citigroup Inc. | 4,035,906 | 209,463 | |
Royal Bank of Canada | 2,139,771 | 208,638 | |
M&T Bank Corp. | 1,157,093 | 205,326 | |
Capital One Financial Corp. | 1,613,408 | 177,201 | |
Apollo Global Management Inc. | 2,735,056 | 156,172 | |
Bank of America Corp. | 4,514,065 | 152,621 | |
JPMorgan Chase & Co. | 1,265,602 | 146,000 | |
American International Group Inc. | 2,373,059 | 122,853 | |
Goldman Sachs Group Inc. | 353,777 | 117,946 | |
Axis Capital Holdings Ltd. | 1,829,345 | 92,364 | |
Morgan Stanley | 720,717 | 60,756 | |
Allstate Corp. | 475,474 | 55,616 | |
UBS Group AG (Registered) | 2,753,680 | 44,720 | |
Invesco Ltd. | 852,369 | 15,121 | |
4,388,195 | |||
Health Care (14.6%) | |||
* | Centene Corp. | 3,005,000 | 279,375 |
* | Seagen Inc. | 1,358,162 | 244,442 |
Humana Inc. | 463,830 | 223,566 | |
CVS Health Corp. | 2,148,847 | 205,602 | |
* | Avantor Inc. | 6,827,020 | 198,120 |
AstraZeneca plc ADR | 2,847,606 | 188,597 | |
* | Boston Scientific Corp. | 4,180,182 | 171,597 |
McKesson Corp. | 478,239 | 163,357 | |
Becton Dickinson and Co. | 638,584 | 156,012 | |
DENTSPLY SIRONA Inc. | 4,245,250 | 153,508 | |
Bristol-Myers Squibb Co. | 1,853,066 | 136,719 | |
* | Biogen Inc. | 583,953 | 125,585 |
Encompass Health Corp. | 2,312,113 | 117,039 | |
* | Regeneron Pharmaceuticals Inc. | 193,885 | 112,781 |
1 | Fresenius Medical Care AG & Co. KGaA ADR | 6,083,272 | 112,662 |
Novartis AG (Registered) | 1,279,922 | 109,983 | |
Johnson & Johnson | 616,171 | 107,534 | |
Pfizer Inc. | 2,110,186 | 106,586 | |
UnitedHealth Group Inc. | 165,424 | 89,716 | |
Elevance Health Inc. | 186,825 | 89,134 | |
Cigna Corp. | 298,096 | 82,084 | |
Cardinal Health Inc. | 1,164,253 | 69,343 | |
Amgen Inc. | 269,795 | 66,766 | |
* | Enhabit Inc. | 1,156,056 | 20,243 |
3,330,351 | |||
Industrials (8.0%) | |||
Westinghouse Air Brake Technologies Corp. | 5,279,718 | 493,495 | |
Leidos Holdings Inc. | 2,129,095 | 227,813 | |
Knight-Swift Transportation Holdings Inc. | 3,825,438 | 210,208 |
Shares | Market Value ($000) | ||
General Electric Co. | 2,643,985 | 195,417 | |
Johnson Controls International plc | 3,490,487 | 188,172 | |
PACCAR Inc. | 1,679,459 | 153,704 | |
Airbus SE | 1,389,425 | 149,810 | |
* | Boeing Co. | 672,223 | 107,092 |
General Dynamics Corp. | 339,199 | 76,886 | |
Textron Inc. | 527,173 | 34,604 | |
1,837,201 | |||
Information Technology (14.1%) | |||
Cognizant Technology Solutions Corp. Class A | 5,326,822 | 362,011 | |
* | Salesforce Inc. | 1,545,994 | 284,494 |
Fidelity National Information Services Inc. | 2,474,784 | 252,824 | |
Micron Technology Inc. | 3,733,059 | 230,927 | |
VMware Inc. Class A | 1,975,006 | 229,496 | |
* | F5 Inc. | 1,274,982 | 213,381 |
Amdocs Ltd. | 2,333,964 | 203,195 | |
NXP Semiconductors NV | 1,082,077 | 198,972 | |
* | FleetCor Technologies Inc. | 831,816 | 183,074 |
SS&C Technologies Holdings Inc. | 3,065,472 | 181,384 | |
* | GoDaddy Inc. Class A | 2,161,314 | 160,326 |
Genpact Ltd. | 3,261,755 | 156,825 | |
Hewlett Packard Enterprise Co. | 10,531,614 | 149,970 | |
QUALCOMM Inc. | 783,454 | 113,648 | |
* | Lumentum Holdings Inc. | 1,052,519 | 95,211 |
Oracle Corp. | 1,125,306 | 87,594 | |
Samsung Electronics Co. Ltd. | 938,035 | 44,402 | |
Juniper Networks Inc. | 1,231,241 | 34,512 | |
Cisco Systems Inc. | 556,397 | 25,244 | |
3,207,490 | |||
Materials (4.7%) | |||
Reliance Steel & Aluminum Co. | 1,344,949 | 255,877 | |
PPG Industries Inc. | 1,376,980 | 178,030 | |
Dow Inc. | 3,231,984 | 171,974 | |
FMC Corp. | 1,385,773 | 153,959 | |
CRH plc (XDUB) | 3,589,733 | 137,705 | |
LG Chem Ltd. | 237,850 | 110,780 | |
1 | Rio Tinto plc ADR | 899,590 | 54,902 |
1,063,227 | |||
Other (0.0%) | |||
*,2 | Allstar Coinv LLC | 1,647,100 | — |
Real Estate (4.1%) | |||
VICI Properties Inc. | 8,332,402 | 284,885 | |
American Tower Corp. | 920,185 | 249,214 | |
Americold Realty Trust Inc. | 5,601,127 | 183,437 | |
Equinix Inc. | 248,841 | 175,119 | |
* | CBRE Group Inc. Class A | 384,588 | 32,928 |
925,583 | |||
Utilities (6.2%) | |||
Exelon Corp. | 6,641,845 | 308,779 | |
Duke Energy Corp. | 2,330,139 | 256,152 | |
Edison International | 3,310,563 | 224,357 | |
NRG Energy Inc. | 5,182,794 | 195,651 | |
Iberdrola SA (XMAD) | 15,764,050 | 168,336 | |
Pinnacle West Capital Corp. | 1,970,946 | 144,805 | |
Avangrid Inc. | 2,138,892 | 104,228 |
Shares | Market Value ($000) | ||
* | Iberdrola SA | 437,890 | 4,668 |
1,406,976 | |||
Total Common Stocks (Cost $18,700,303) | 22,307,868 | ||
Temporary Cash Investments (2.1%) | |||
Money Market Fund (1.2%) | |||
3,4 | Vanguard Market Liquidity Fund, 1.903% | 2,743,487 | 274,239 |
Face Amount ($000) | |||
Repurchase Agreement (0.9%) | |||
Bank of America Securities, LLC 2.300%, 8/1/22 (Dated 7/29/22, Repurchase Value $195,137,000, collateralized by Freddie Mac 1.500%–5.000%, 6/1/37–7/1/52, with a value of $199,002,000) | 195,100 | 195,100 | |
Total Temporary Cash Investments (Cost $469,326) | 469,339 | ||
Total Investments (99.9%) (Cost $19,169,629) | 22,777,207 | ||
Other Assets and Liabilities—Net (0.1%) | 20,020 | ||
Net Assets (100%) | 22,797,227 | ||
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 $26,034,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
4 | Collateral of $26,457,000 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 2022 | 977 | 201,921 | 15,368 |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 21,192,231 | 1,115,637 | — | 22,307,868 |
Temporary Cash Investments | 274,239 | 195,100 | — | 469,339 |
Total | 21,466,470 | 1,310,737 | — | 22,777,207 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 15,368 | — | — | 15,368 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |