NPORT-EX 2 vg_growthindexfund.htm
Vanguard® Growth Index Fund
Schedule of Investments (unaudited)
As of September 30, 2023
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 (99.8%)
Basic Materials (1.4%)
  Linde plc 4,237,023 1,577,656
  Ecolab Inc. 2,228,107 377,441
  Fastenal Co. 4,960,961 271,067
  Albemarle Corp. 1,019,360 173,332
      2,399,496
Consumer Discretionary (21.3%)
* Amazon.com Inc. 80,636,609 10,250,526
* Tesla Inc. 23,427,836 5,862,113
  Home Depot Inc. 8,684,305 2,624,050
  Costco Wholesale Corp. 3,848,036 2,173,986
  McDonald's Corp. 6,328,000 1,667,048
* Netflix Inc. 3,748,281 1,415,351
* Walt Disney Co. 15,890,529 1,287,927
  NIKE Inc. Class B 10,638,507 1,017,254
* Booking Holdings Inc. 309,963 955,910
  Starbucks Corp. 9,947,057 907,868
  TJX Cos. Inc. 9,980,163 887,037
* Uber Technologies Inc. 16,856,711 775,240
* Airbnb Inc. Class A 3,516,704 482,527
* O'Reilly Automotive Inc. 523,295 475,602
* Chipotle Mexican Grill Inc. 239,550 438,815
  Marriott International Inc. Class A 2,201,946 432,815
* AutoZone Inc. 157,675 400,493
* Lululemon Athletica Inc. 1,006,233 388,014
  Hilton Worldwide Holdings Inc. 2,270,352 340,961
  Ross Stores Inc. 2,957,416 334,040
* Copart Inc. 7,461,062 321,497
  Yum! Brands Inc. 2,432,789 303,953
  Activision Blizzard Inc. 3,244,792 303,810
* Trade Desk Inc. Class A 3,875,433 302,865
  Estee Lauder Cos. Inc. Class A 1,814,184 262,240
* Aptiv plc 2,455,818 242,119
* Take-Two Interactive Software Inc. 1,474,905 207,062
  Tractor Supply Co. 945,049 191,892
* Ulta Beauty Inc. 427,646 170,823
  Electronic Arts Inc. 1,177,002 141,711
  Las Vegas Sands Corp. 2,989,145 137,022
* Expedia Group Inc. 1,196,053 123,277
* Roblox Corp. Class A 4,184,974 121,197
* Live Nation Entertainment Inc. 1,397,861 116,078
  Domino's Pizza Inc. 304,503 115,343
  Dollar General Corp. 952,985 100,826

    Shares Market
Value
($000)
  Rollins Inc. 2,524,560 94,242
* Royal Caribbean Cruises Ltd. 944,670 87,042
* Burlington Stores Inc. 562,697 76,133
  Pool Corp. 160,933 57,308
* Caesars Entertainment Inc. 887,354 41,129
* Etsy Inc. 534,490 34,517
  Warner Music Group Corp. Class A 1,023,779 32,147
* Chewy Inc. Class A 807,217 14,740
      36,716,550
Consumer Staples (0.7%)
* Monster Beverage Corp. 6,365,536 337,055
  Hershey Co. 1,301,001 260,304
  Colgate-Palmolive Co. 3,589,608 255,257
  Church & Dwight Co. Inc. 2,136,754 195,791
  Brown-Forman Corp. Class B 2,691,563 155,276
  Lamb Weston Holdings Inc. 632,390 58,471
1 Brown-Forman Corp. Class A 442,766 25,725
      1,287,879
Energy (1.5%)
  Pioneer Natural Resources Co. 2,024,893 464,814
  Hess Corp. 2,399,228 367,082
  Schlumberger NV 6,169,064 359,656
  Cheniere Energy Inc. 1,984,708 329,382
  Diamondback Energy Inc. 1,551,770 240,338
  Coterra Energy Inc. 6,235,342 168,666
  Baker Hughes Co. 4,388,807 155,013
* First Solar Inc. 881,810 142,492
  Halliburton Co. 3,508,214 142,083
* Enphase Energy Inc. 1,124,019 135,051
  EQT Corp. 1,784,071 72,397
  Texas Pacific Land Corp. 26,706 48,700
      2,625,674
Financials (2.5%)
  S&P Global Inc. 2,763,346 1,009,754
  Blackstone Inc. 6,164,243 660,437
  Aon plc Class A (XNYS) 1,673,373 542,541
  Moody's Corp. 1,354,743 428,329
  MSCI Inc. 652,305 334,685
  Apollo Global Management Inc. 3,445,259 309,246
  Broadridge Financial Solutions Inc. 1,025,932 183,693
  LPL Financial Holdings Inc. 662,841 157,524
  Ares Management Corp. Class A 1,418,020 145,872
  FactSet Research Systems Inc. 331,102 144,778
*,1 Coinbase Global Inc. Class A 1,318,485 98,992
  Tradeweb Markets Inc. Class A 994,732 79,778
  Brown & Brown Inc. 984,304 68,744
  Interactive Brokers Group Inc. Class A 440,867 38,161
  MarketAxess Holdings Inc. 163,687 34,970
      4,237,504
Health Care (8.5%)
  Eli Lilly & Co. 7,418,876 3,984,901
  Thermo Fisher Scientific Inc. 3,351,424 1,696,390
* Intuitive Surgical Inc. 3,051,117 891,811
  Stryker Corp. 2,968,003 811,066
* Vertex Pharmaceuticals Inc. 2,241,185 779,350
  Danaher Corp. 2,885,218 715,823
* Boston Scientific Corp. 12,716,257 671,418

    Shares Market
Value
($000)
  Zoetis Inc. 3,596,895 625,788
* Edwards Lifesciences Corp. 5,280,075 365,804
* Regeneron Pharmaceuticals Inc. 440,381 362,416
* IDEXX Laboratories Inc. 720,681 315,132
* DexCom Inc. 3,367,440 314,182
* IQVIA Holdings Inc. 1,510,530 297,197
* Moderna Inc. 2,808,670 290,107
  Agilent Technologies Inc. 2,544,197 284,492
* Seagen Inc. 1,222,382 259,328
* Veeva Systems Inc. Class A 1,265,332 257,432
  West Pharmaceutical Services Inc. 641,359 240,644
* Horizon Therapeutics plc 1,988,585 230,059
* Align Technology Inc. 631,464 192,799
* Alnylam Pharmaceuticals Inc. 1,085,627 192,265
  ResMed Inc. 1,277,495 188,903
* Illumina Inc. 1,374,984 188,758
* BioMarin Pharmaceutical Inc. 1,634,923 144,658
  Cooper Cos. Inc. 430,171 136,799
* Insulet Corp. 605,809 96,620
* Incyte Corp. 1,652,612 95,471
  STERIS plc 428,907 94,111
* Bio-Rad Laboratories Inc. Class A 88,636 31,772
*,2 ABIOMED Inc. CVR 15
      14,755,496
Industrials (8.9%)
  Visa Inc. Class A 13,507,673 3,106,900
  Mastercard Inc. Class A 7,306,137 2,892,573
  Accenture plc Class A 5,477,872 1,682,309
* Boeing Co. 5,238,566 1,004,128
  Automatic Data Processing Inc. 3,577,680 860,718
* Fiserv Inc. 5,294,092 598,021
  Sherwin-Williams Co. 2,009,934 512,634
* TransDigm Group Inc. 455,337 383,908
  Cintas Corp. 751,171 361,321
  Old Dominion Freight Line Inc. 853,784 349,317
  Paychex Inc. 2,817,244 324,913
  Verisk Analytics Inc. 1,259,158 297,463
  Rockwell Automation Inc. 997,307 285,100
* PayPal Holdings Inc. 4,770,936 278,909
  WW Grainger Inc. 390,668 270,280
  Quanta Services Inc. 1,260,823 235,862
  Vulcan Materials Co. 1,153,628 233,056
* Block Inc. (XNYS) 4,770,980 211,164
* Mettler-Toledo International Inc. 189,876 210,396
  Equifax Inc. 1,065,840 195,240
* Teledyne Technologies Inc. 408,918 167,076
* Waters Corp. 513,528 140,814
  JB Hunt Transport Services Inc. 717,454 135,254
  Martin Marietta Materials Inc. 268,368 110,160
* Keysight Technologies Inc. 772,447 102,202
* Bill Holdings Inc. 875,970 95,104
* Fair Isaac Corp. 102,518 89,040
  HEICO Corp. Class A 652,106 84,265
  HEICO Corp. 355,664 57,593
  Jack Henry & Associates Inc. 316,406 47,822
*,1 Symbotic Inc. 105,105 3,514
      15,327,056

    Shares Market
Value
($000)
Real Estate (1.7%)
  American Tower Corp. 4,047,569 665,623
  Equinix Inc. 812,623 590,176
  Welltower Inc. 4,505,345 369,078
  Public Storage 1,373,725 362,004
* CoStar Group Inc. 3,545,701 272,629
  SBA Communications Corp. 941,357 188,431
  Invitation Homes Inc. 5,316,759 168,488
  Realty Income Corp. 3,078,796 153,755
  Sun Communities Inc. 1,079,505 127,749
* Zillow Group Inc. Class C 1,325,870 61,202
  Camden Property Trust 463,971 43,882
* Zillow Group Inc. Class A 347,537 15,566
      3,018,583
Technology (52.1%)
  Apple Inc. 128,974,068 22,081,650
  Microsoft Corp. 64,517,637 20,371,444
  NVIDIA Corp. 20,376,230 8,863,456
* Alphabet Inc. Class A 51,437,952 6,731,170
* Meta Platforms Inc. Class A 19,300,219 5,794,119
* Alphabet Inc. Class C 42,899,752 5,656,332
* Adobe Inc. 3,958,122 2,018,246
* Salesforce Inc. 8,035,224 1,629,383
* Advanced Micro Devices Inc. 14,030,354 1,442,601
  Texas Instruments Inc. 7,884,072 1,253,646
  Intuit Inc. 2,310,505 1,180,529
  Applied Materials Inc. 7,264,420 1,005,759
* ServiceNow Inc. 1,771,644 990,278
  Lam Research Corp. 1,150,579 721,148
* Palo Alto Networks Inc. 2,656,253 622,732
* Synopsys Inc. 1,320,430 606,038
* Cadence Design Systems Inc. 2,359,898 552,924
  KLA Corp. 1,187,379 544,603
  Roper Technologies Inc. 926,695 448,780
  Amphenol Corp. Class A 5,177,687 434,874
  Marvell Technology Inc. 7,469,232 404,310
* Workday Inc. Class A 1,797,832 386,264
* Autodesk Inc. 1,856,470 384,122
  Microchip Technology Inc. 4,725,689 368,840
* Snowflake Inc. Class A 2,404,897 367,396
* Fortinet Inc. 5,795,192 340,062
* Crowdstrike Holdings Inc. Class A 1,848,661 309,429
* Palantir Technologies Inc. Class A 16,884,722 270,156
* Atlassian Corp. Ltd. Class A 1,331,046 268,219
* ANSYS Inc. 753,667 224,254
* Gartner Inc. 650,458 223,504
* Splunk Inc. 1,456,404 212,999
* Datadog Inc. Class A 2,337,456 212,919
* HubSpot Inc. 412,644 203,227
* DoorDash Inc. Class A 2,541,748 201,993
* MongoDB Inc. 582,346 201,410
  Monolithic Power Systems Inc. 394,286 182,160
* ON Semiconductor Corp. 1,874,338 174,220
* VeriSign Inc. 761,557 154,238
* Cloudflare Inc. Class A 2,414,781 152,228
* Tyler Technologies Inc. 365,634 141,186
* Zoom Video Communications Inc. Class A 1,988,826 139,098
* Pinterest Inc. Class A 5,056,342 136,673

    Shares Market
Value
($000)
  Teradyne Inc. 1,336,392 134,254
* EPAM Systems Inc. 502,910 128,589
* Zscaler Inc. 759,480 118,167
  Paycom Software Inc. 445,938 115,618
* Okta Inc. 1,345,344 109,659
  Bentley Systems Inc. Class B 1,966,861 98,658
* GoDaddy Inc. Class A 1,273,763 94,870
* Match Group Inc. 2,413,681 94,556
* Twilio Inc. Class A 1,492,913 87,380
* Snap Inc. Class A 8,906,125 79,354
* DocuSign Inc. 1,755,848 73,746
* Unity Software Inc. 2,328,681 73,097
  Skyworks Solutions Inc. 692,575 68,281
  Seagate Technology Holdings plc 856,554 56,490
* Toast Inc. Class A 1,692,999 31,710
* ZoomInfo Technologies Inc. 1,569,559 25,741
      89,998,789
Telecommunications (1.0%)
* T-Mobile US Inc. 4,597,142 643,830
* Charter Communications Inc. Class A 844,563 371,456
* Arista Networks Inc. 2,016,684 370,929
  Motorola Solutions Inc. 724,791 197,317
* Liberty Broadband Corp. Class C 1,034,947 94,511
* Roku Inc. 538,362 38,003
* Liberty Broadband Corp. Class A 145,715 13,247
      1,729,293
Utilities (0.2%)
  Waste Connections Inc. (XTSE) 2,236,725 300,392
Total Common Stocks (Cost $90,481,942) 172,396,712
Temporary Cash Investments (0.2%)
Money Market Fund (0.2%)
3,4 Vanguard Market Liquidity Fund, 5.391% (Cost $325,617) 3,256,940 325,662
Total Investments (100.0%) (Cost $90,807,559) 172,722,374
Other Assets and Liabilities—Net (0.0%) 458
Net Assets (100%) 172,722,832
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 $14,180,000.
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 $14,542,000 was received for securities on loan.
  CVR—Contingent Value Rights.


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 2023 879 190,106 (8,171)
    
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. 8/30/24 BANA 37,760 (5.328) (160)
Visa Inc. Class A 8/30/24 BANA 102,354 (5.228) (397)
          (557)
1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly.
  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 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 or indexes 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, 2023, based on the inputs used to value them:
  Level 1
($000)
Level 2
($000)
Level 3
($000)
Total
($000)
Investments        
Assets        
Common Stocks 172,396,712 172,396,712
Temporary Cash Investments 325,662 325,662
Total 172,722,374 172,722,374
Derivative Financial Instruments
Liabilities        
Futures Contracts1 8,171 8,171
Swap Contracts 557 557
Total 8,171 557 8,728
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.