NPORT-EX 2 vg_growthindexfund.htm
Vanguard® Growth Index Fund
Schedule of Investments (unaudited)
As of September 30, 2022
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
    Shares Market
Value
($000)
Common Stocks (99.9%)
Basic Materials (1.5%)
  Linde plc 4,106,260 1,107,006
  Ecolab Inc. 2,113,362 305,212
  Albemarle Corp. 965,232 255,246
  Fastenal Co. 4,735,253 218,011
      1,885,475
Consumer Discretionary (24.6%)
* Amazon.com Inc. 71,348,929 8,062,429
* Tesla Inc. 21,945,257 5,820,979
  Home Depot Inc. 8,435,021 2,327,560
  Costco Wholesale Corp. 3,649,778 1,723,681
* Walt Disney Co. 15,020,940 1,416,925
  McDonald's Corp. 6,061,941 1,398,732
  Lowe's Cos. Inc. 5,114,488 960,552
  NIKE Inc. Class B 10,411,957 865,442
* Netflix Inc. 3,564,157 839,145
  Starbucks Corp. 9,453,990 796,593
  TJX Cos. Inc. 9,171,050 569,706
* Booking Holdings Inc. 327,199 537,657
  Dollar General Corp. 1,858,607 445,806
* Uber Technologies Inc. 14,682,071 389,075
  Estee Lauder Cos. Inc. Class A 1,715,759 370,432
* O'Reilly Automotive Inc. 521,733 366,961
* AutoZone Inc. 160,555 343,898
* Chipotle Mexican Grill Inc. Class A 228,779 343,800
  Marriott International Inc. Class A 2,406,689 337,273
* Airbnb Inc. Class A 2,959,919 310,910
  Hilton Worldwide Holdings Inc. 2,259,983 272,599
* Lululemon Athletica Inc. 958,421 267,936
  Electronic Arts Inc. 2,290,912 265,081
  Yum! Brands Inc. 2,344,482 249,312
  Ross Stores Inc. 2,883,268 242,973
* Trade Desk Inc. Class A 3,636,438 217,277
  Activision Blizzard Inc. 2,901,325 215,685
* Copart Inc. 1,762,529 187,533
* Aptiv plc 2,231,675 174,539
* Rivian Automotive Inc. Class A 5,238,482 172,399
  Tractor Supply Co. 914,586 170,003
* Ulta Beauty Inc. 422,075 169,332
* Take-Two Interactive Software Inc. 1,373,406 149,701
* Expedia Group Inc. 1,252,697 117,365
* Las Vegas Sands Corp. 2,833,444 106,311
* Etsy Inc. 1,043,183 104,454

    Shares Market
Value
($000)
* NVR Inc. 25,675 102,368
* Live Nation Entertainment Inc. 1,231,573 93,649
  Domino's Pizza Inc. 295,678 91,719
* Roblox Corp. Class A 2,471,694 88,586
  Rollins Inc. 2,026,789 70,289
* Royal Caribbean Cruises Ltd. 1,784,516 67,633
* Burlington Stores Inc. 540,091 60,431
* Caesars Entertainment Inc. 1,680,030 54,198
  Pool Corp. 154,978 49,316
  Vail Resorts Inc. 165,829 35,759
1 Sirius XM Holdings Inc. 4,812,447 27,479
  Warner Music Group Corp. Class A 963,611 22,365
*,1 Chewy Inc. Class A 721,567 22,167
* Endeavor Group Holdings Inc. Class A 1,059,673 21,469
      32,117,484
Consumer Staples (0.9%)
  Hershey Co. 1,210,041 266,778
* Monster Beverage Corp. 3,038,965 264,268
  Colgate-Palmolive Co. 3,436,416 241,408
  Brown-Forman Corp. Class B 2,548,313 169,641
  Church & Dwight Co. Inc. 2,001,795 143,008
  Lamb Weston Holdings Inc. 591,780 45,792
  Brown-Forman Corp. Class A 423,220 28,593
* Olaplex Holdings Inc. 799,472 7,635
      1,167,123
Energy (1.6%)
  Pioneer Natural Resources Co. 1,868,107 404,501
  Cheniere Energy Inc. 2,057,884 341,424
* Enphase Energy Inc. 1,116,060 309,673
  Hess Corp. 2,294,854 250,116
  Diamondback Energy Inc. 1,465,363 176,518
  Coterra Energy Inc. 6,227,330 162,658
* Plug Power Inc. 4,769,660 100,211
  Baker Hughes Co. Class A 4,168,028 87,362
  Halliburton Co. 3,362,406 82,782
  Marathon Oil Corp. 2,790,852 63,017
  EQT Corp. 1,370,358 55,842
      2,034,104
Financials (2.7%)
  S&P Global Inc. 2,747,908 839,074
  Blackstone Inc. 5,781,453 483,908
  Aon plc Class A (XNYS) 1,651,035 442,263
  Moody's Corp. 1,285,175 312,439
  MSCI Inc. Class A 630,144 265,788
  First Republic Bank 1,505,443 196,536
* SVB Financial Group 486,811 163,461
  Broadridge Financial Solutions Inc. 966,169 139,438
  Apollo Global Management Inc. 2,829,951 131,593
  FactSet Research Systems Inc. 312,926 125,205
*,1 Coinbase Global Inc. Class A 1,165,595 75,169
  Ares Management Corp. Class A 1,204,523 74,620
  LPL Financial Holdings Inc. 311,894 68,143
  MarketAxess Holdings Inc. 294,640 65,554
  Brown & Brown Inc. 930,132 56,254
  Tradeweb Markets Inc. Class A 885,456 49,957
  Interactive Brokers Group Inc. Class A 402,480 25,722

    Shares Market
Value
($000)
*,1 Corebridge Financial Inc. 26,268 517
      3,515,641
Health Care (7.4%)
  Thermo Fisher Scientific Inc. 3,228,147 1,637,284
  Danaher Corp. 2,697,215 696,664
* Vertex Pharmaceuticals Inc. 2,113,067 611,817
  Stryker Corp. 2,805,562 568,239
* Intuitive Surgical Inc. 2,942,500 551,542
  Zoetis Inc. 3,471,657 514,812
* Boston Scientific Corp. 11,796,105 456,863
* Edwards Lifesciences Corp. 5,108,172 422,088
* Moderna Inc. 2,739,852 323,988
  Agilent Technologies Inc. 2,439,003 296,461
* Regeneron Pharmaceuticals Inc. 419,919 289,270
* IQVIA Holdings Inc. 1,536,792 278,375
  ResMed Inc. 1,206,482 263,375
* DexCom Inc. 3,233,919 260,460
* Illumina Inc. 1,296,103 247,283
* IDEXX Laboratories Inc. 686,011 223,502
* Alnylam Pharmaceuticals Inc. 988,955 197,949
* Veeva Systems Inc. Class A 1,154,257 190,314
* Seagen Inc. 1,139,732 155,950
  West Pharmaceutical Services Inc. 609,877 150,079
* Insulet Corp. 571,872 131,187
* BioMarin Pharmaceutical Inc. 1,528,230 129,548
* Align Technology Inc. 611,488 126,645
  PerkinElmer Inc. 1,040,102 125,155
* Horizon Therapeutics plc 1,898,311 117,486
  Cooper Cos. Inc. 406,274 107,216
* Incyte Corp. 1,557,861 103,816
* Catalent Inc. 1,401,971 101,447
* Avantor Inc. 4,998,498 97,971
* ABIOMED Inc. 374,624 92,030
* Bio-Rad Laboratories Inc. Class A 172,547 71,976
  STERIS plc 411,909 68,492
* Charles River Laboratories International Inc. 209,604 41,250
* Exact Sciences Corp. 729,766 23,710
* agilon health Inc. 846,575 19,827
      9,694,071
Industrials (10.6%)
  Visa Inc. Class A 13,026,764 2,314,205
  Mastercard Inc. Class A 7,109,134 2,021,411
  Accenture plc Class A 5,472,554 1,408,088
* PayPal Holdings Inc. 9,528,840 820,147
  Automatic Data Processing Inc. 3,423,635 774,392
* Boeing Co. 4,892,665 592,404
  Union Pacific Corp. 2,572,697 501,213
  United Parcel Service Inc. Class B 3,015,060 487,053
* Fiserv Inc. 4,742,900 443,793
  Sherwin-Williams Co. 1,921,984 393,526
  Paychex Inc. 2,668,866 299,473
  Cintas Corp. 708,729 275,122
  Global Payments Inc. 2,283,716 246,756
* Block Inc. (XNYS) 4,363,086 239,926
* Keysight Technologies Inc. 1,477,376 232,480
* TransDigm Group Inc. 424,533 222,803
  Verisk Analytics Inc. Class A 1,293,351 220,555

    Shares Market
Value
($000)
  Old Dominion Freight Line Inc. 828,876 206,199
  Rockwell Automation Inc. 951,191 204,611
* Mettler-Toledo International Inc. 185,438 201,037
  Equifax Inc. 1,008,054 172,811
  Vulcan Materials Co. 1,040,255 164,059
* Waters Corp. 493,375 132,979
* Teledyne Technologies Inc. 386,126 130,306
* Zebra Technologies Corp. Class A 426,732 111,808
* Trimble Inc. 2,040,773 110,753
* Bill.com Holdings Inc. 820,608 108,624
  JB Hunt Transport Services Inc. 684,306 107,039
  TransUnion 1,587,552 94,443
* Generac Holdings Inc. 525,530 93,618
  Martin Marietta Materials Inc. 257,028 82,786
  Quanta Services Inc. 588,708 74,996
  HEICO Corp. Class A 605,011 69,346
  Ball Corp. 1,294,902 62,570
  Jack Henry & Associates Inc. 299,969 54,675
* FleetCor Technologies Inc. 293,598 51,723
  HEICO Corp. 339,603 48,896
      13,776,626
Real Estate (2.7%)
  American Tower Corp. 3,836,191 823,630
  Crown Castle Inc. 3,567,387 515,666
  Equinix Inc. 750,421 426,869
  Public Storage 1,229,446 359,994
  SBA Communications Corp. Class A 889,108 253,085
  Digital Realty Trust Inc. 2,368,097 234,868
* CoStar Group Inc. 3,262,613 227,241
  Invitation Homes Inc. 5,029,550 169,848
  Realty Income Corp. 2,544,056 148,064
  Sun Communities Inc. 1,016,115 137,511
  UDR Inc. 1,338,752 55,839
  Camden Property Trust 439,092 52,449
* Zillow Group Inc. Class C 1,326,626 37,955
* Zillow Group Inc. Class A 319,234 9,140
      3,452,159
Technology (46.6%)
  Apple Inc. 125,794,471 17,384,796
  Microsoft Corp. 61,449,247 14,311,530
* Alphabet Inc. Class A 49,404,183 4,725,510
* Alphabet Inc. Class C 43,163,372 4,150,158
* Meta Platforms Inc. Class A 18,791,645 2,549,650
  NVIDIA Corp. 19,568,794 2,375,456
  Texas Instruments Inc. 7,528,531 1,165,266
* Salesforce Inc. 7,788,334 1,120,274
* Adobe Inc. 3,856,099 1,061,199
  Intuit Inc. 2,207,806 855,127
* Advanced Micro Devices Inc. 13,301,129 842,760
* ServiceNow Inc. 1,664,358 628,478
  Applied Materials Inc. 7,088,689 580,776
  QUALCOMM Inc. 4,626,420 522,693
  Lam Research Corp. 1,128,755 413,124
* Palo Alto Networks Inc. 2,462,935 403,404
* Synopsys Inc. 1,260,114 384,977
* Snowflake Inc. Class A 2,227,830 378,642
* Cadence Design Systems Inc. 2,256,487 368,778

    Shares Market
Value
($000)
  KLA Corp. 1,168,433 353,603
* Autodesk Inc. 1,790,191 334,408
  Amphenol Corp. Class A 4,901,280 328,190
  Roper Technologies Inc. 873,442 314,125
  Marvell Technology Inc. 7,002,732 300,487
  Microchip Technology Inc. 4,552,196 277,821
* Crowdstrike Holdings Inc. Class A 1,670,758 275,358
* Fortinet Inc. 5,522,467 271,319
* Workday Inc. Class A 1,636,561 249,117
* Twitter Inc. 5,359,150 234,945
  Micron Technology Inc. 4,548,824 227,896
* Datadog Inc. Class A 2,156,472 191,452
* Gartner Inc. 619,134 171,308
* EPAM Systems Inc. 449,061 162,645
* ANSYS Inc. 717,701 159,114
* Paycom Software Inc. 420,403 138,729
  Monolithic Power Systems Inc. 366,241 133,092
* VeriSign Inc. 751,372 130,513
* Zoom Video Communications Inc. Class A 1,757,721 129,351
* Cloudflare Inc. Class A 2,215,249 122,525
* Tyler Technologies Inc. 342,601 119,054
* DoorDash Inc. Class A 2,359,274 116,666
* Zscaler Inc. 701,285 115,270
  Skyworks Solutions Inc. 1,322,062 112,732
* Pinterest Inc. Class A 4,802,557 111,900
* Palantir Technologies Inc. Class A 13,754,244 111,822
* Match Group Inc. 2,331,677 111,338
* ZoomInfo Technologies Inc. Class A 2,659,057 110,776
* MongoDB Inc. Class A 533,427 105,917
* HubSpot Inc. 375,882 101,533
* Splunk Inc. 1,325,619 99,687
* Twilio Inc. Class A 1,427,982 98,731
  Teradyne Inc. 1,291,853 97,083
* GoDaddy Inc. Class A 1,288,416 91,323
* DocuSign Inc. Class A 1,646,791 88,054
* Snap Inc. Class A 8,618,632 84,635
* Black Knight Inc. 1,222,052 79,103
* Okta Inc. 1,242,262 70,647
  Bentley Systems Inc. Class B 1,824,408 55,809
*,1 Unity Software Inc. 1,719,642 54,788
* Zendesk Inc. 508,629 38,707
*,1 AppLovin Corp. Class A 1,443,263 28,129
* Dropbox Inc. Class A 1,119,905 23,204
* Toast Inc. Class A 1,200,481 20,072
* UiPath Inc. Class A 1,236,759 15,596
* Qualtrics International Inc. Class A 401,899 4,091
      60,795,263
Telecommunications (1.1%)
* T-Mobile US Inc. 5,166,310 693,164
* Charter Communications Inc. Class A 860,234 260,952
* Arista Networks Inc. 1,880,335 212,271
  Motorola Solutions Inc. 687,536 153,987
* Liberty Broadband Corp. Class C 1,031,979 76,160
* Roku Inc. 994,753 56,104
* Liberty Broadband Corp. Class A 138,814 10,356
      1,462,994

    Shares Market
Value
($000)
Utilities (0.2%)
  Waste Connections Inc. (XTSE) 2,119,359 286,389
Total Common Stocks (Cost $81,040,992) 130,187,329
Temporary Cash Investments (0.2%)
Money Market Fund (0.2%)
2,3 Vanguard Market Liquidity Fund, 2.828% (Cost $253,025) 2,531,206 253,045
Total Investments (100.1%) (Cost $81,294,017) 130,440,374
Other Assets and Liabilities—Net (-0.1%) (102,988)
Net Assets (100%) 130,337,386
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 $113,528,000.
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 $115,842,000 was received for securities on loan.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts
Notional
Amount
Value and
Unrealized
Appreciation
(Depreciation)
Long Futures Contracts        
E-mini S&P 500 Index December 2022 365 65,727 (1,726)
    
Over-the-Counter Total Return Swaps
Reference Entity  Termination
Date
Counterparty Notional
Amount
($000)
Floating
Interest Rate
Received
(Paid)1
(%)
Value and
Unrealized
Appreciation
($000)
Value and
Unrealized
(Depreciation)
($000)
Netflix Inc. 8/31/23 BANA 23,544 (2.555) (43)
Visa Inc. Class A 8/31/23 BANA 79,054 (2.455) (161)
          (204)
1 Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly.
  1M—1-month.
  BANA—Bank of America, N.A.
A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been 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 valuation designee to represent fair value and subject to oversight by the board of trustees.
Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C.  Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.
A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.
D.  Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund’s investments and derivatives as of September 30, 2022, based on the inputs used to value them:
  Level 1
($000)
Level 2
($000)
Level 3
($000)
Total
($000)
Investments        
Assets        
Common Stocks 130,187,329 130,187,329
Temporary Cash Investments 253,045 253,045
Total 130,440,374 130,440,374
Derivative Financial Instruments
Liabilities        
Futures Contracts1 1,726 1,726
Swap Contracts 204 204
Total 1,726 204 1,930
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.