NPORT-EX 2 vg_growthindex.htm
Vanguard® Growth Index Fund
Schedule of Investments (unaudited)
As of March 31, 2024
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 4,582,235 2,127,624
  Ecolab Inc. 2,435,300 562,311
  Fastenal Co. 5,443,028 419,875
  Albemarle Corp. 1,129,012 148,736
      3,258,546
Consumer Discretionary (18.9%)
* Amazon.com Inc. 87,577,944 15,797,309
* Tesla Inc. 25,559,924 4,493,179
  Costco Wholesale Corp. 4,191,201 3,070,600
* Netflix Inc. 3,988,547 2,422,364
  McDonald's Corp. 6,822,251 1,923,534
* Uber Technologies Inc. 18,651,955 1,436,014
  Booking Holdings Inc. 323,229 1,172,636
  TJX Cos. Inc. 10,784,657 1,093,780
  NIKE Inc. Class B 11,515,812 1,082,256
  Walt Disney Co. 8,681,748 1,062,299
  Starbucks Corp. 10,716,965 979,423
* Chipotle Mexican Grill Inc. 259,907 755,490
* O'Reilly Automotive Inc. 560,189 632,386
* Airbnb Inc. Class A 3,533,086 582,818
  Marriott International Inc. Class A 2,197,820 554,532
* AutoZone Inc. 164,162 517,381
  Hilton Worldwide Holdings Inc. 2,394,732 510,820
* Copart Inc. 8,209,608 475,500
  Ross Stores Inc. 3,196,974 469,188
*,1 Lululemon Athletica Inc. 1,092,109 426,632
  Yum! Brands Inc. 2,677,139 371,185
* Trade Desk Inc. Class A 4,236,398 370,346
  Estee Lauder Cos. Inc. Class A 2,108,933 325,092
  Tractor Supply Co. 1,032,201 270,148
* Ulta Beauty Inc. 463,817 242,521
* Take-Two Interactive Software Inc. 1,629,564 241,974
* Aptiv plc 2,670,240 212,685
* Roblox Corp. Class A 5,284,934 201,779
  Las Vegas Sands Corp. 3,613,635 186,825
* Expedia Group Inc. 1,256,371 173,065
  Domino's Pizza Inc. 335,843 166,874
* Live Nation Entertainment Inc. 1,555,247 164,498
* Royal Caribbean Cruises Ltd. 1,053,569 146,457
* Burlington Stores Inc. 623,577 144,788
  Rollins Inc. 2,808,513 129,950

    Shares Market
Value
($000)
1 Warner Music Group Corp. Class A 1,278,554 42,218
      42,848,546
Consumer Staples (0.7%)
* Monster Beverage Corp. 6,922,950 410,392
  Colgate-Palmolive Co. 3,918,185 352,833
  Hershey Co. 1,425,091 277,180
  Church & Dwight Co. Inc. 2,331,465 243,195
  Brown-Forman Corp. Class B 2,927,315 151,108
  Lamb Weston Holdings Inc. 709,666 75,601
1 Brown-Forman Corp. Class A 492,333 26,069
      1,536,378
Energy (1.3%)
  Pioneer Natural Resources Co. 2,217,083 581,984
  Hess Corp. 2,628,629 401,234
  Schlumberger NV 6,822,278 373,929
  Cheniere Energy Inc. 2,123,739 342,517
  Diamondback Energy Inc. 1,700,084 336,906
* First Solar Inc. 976,830 164,889
  Baker Hughes Co. 4,822,401 161,550
  Halliburton Co. 3,864,036 152,320
* Enphase Energy Inc. 1,240,329 150,055
  Coterra Energy Inc. 3,488,317 97,254
  EQT Corp. 2,161,856 80,140
  Texas Pacific Land Corp. 92,461 53,490
      2,896,268
Financials (2.5%)
  S&P Global Inc. 2,970,972 1,264,000
  Blackstone Inc. 6,811,790 894,865
  Aon plc Class A (XNYS) 1,786,979 596,351
  Moody's Corp. 1,471,738 578,437
* Coinbase Global Inc. Class A 1,767,823 468,685
  Apollo Global Management Inc. 3,776,996 424,723
  MSCI Inc. 714,437 400,406
  Broadridge Financial Solutions Inc. 1,125,951 230,662
  Ares Management Corp. Class A 1,598,360 212,550
  LPL Financial Holdings Inc. 713,811 188,589
  FactSet Research Systems Inc. 365,855 166,241
  Tradeweb Markets Inc. Class A 1,121,242 116,800
  Brown & Brown Inc. 1,115,829 97,680
  Interactive Brokers Group Inc. Class A 508,057 56,755
      5,696,744
Health Care (7.5%)
  Eli Lilly & Co. 8,073,323 6,280,722
* Intuitive Surgical Inc. 3,332,369 1,329,915
  Stryker Corp. 3,238,112 1,158,823
  Thermo Fisher Scientific Inc. 1,804,503 1,048,795
* Vertex Pharmaceuticals Inc. 2,444,526 1,021,836
* Boston Scientific Corp. 13,889,385 951,284
  Zoetis Inc. 3,904,629 660,702
* Edwards Lifesciences Corp. 5,708,280 545,483
* DexCom Inc. 3,663,353 508,107
* IDEXX Laboratories Inc. 789,428 426,236
  Agilent Technologies Inc. 2,786,327 405,438
* Moderna Inc. 3,269,226 348,369
* Veeva Systems Inc. Class A 1,380,796 319,917
  ResMed Inc. 1,404,914 278,215
  West Pharmaceutical Services Inc. 699,964 276,983

    Shares Market
Value
($000)
* Align Technology Inc. 696,423 228,371
* IQVIA Holdings Inc. 868,050 219,521
* Illumina Inc. 1,520,577 208,806
  Cooper Cos. Inc. 1,904,431 193,224
* Alnylam Pharmaceuticals Inc. 1,207,940 180,527
* BioMarin Pharmaceutical Inc. 1,812,090 158,268
  STERIS plc 479,357 107,769
* Incyte Corp. 1,852,723 105,550
* Insulet Corp. 347,318 59,530
*,2 ABIOMED Inc. CVR 15
      17,022,391
Industrials (8.9%)
  Visa Inc. Class A 14,490,129 4,043,905
  Mastercard Inc. Class A 7,868,193 3,789,086
  Accenture plc Class A 5,924,585 2,053,520
* Boeing Co. 5,772,588 1,114,052
  Automatic Data Processing Inc. 3,888,575 971,133
  General Electric Co. 4,897,159 859,598
  Sherwin-Williams Co. 2,170,048 753,723
  TransDigm Group Inc. 501,050 617,093
  Cintas Corp. 817,955 561,960
* Fiserv Inc. 2,805,442 448,366
* Block Inc. (XNYS) 5,278,080 446,420
  WW Grainger Inc. 420,715 427,993
  Old Dominion Freight Line Inc. 1,867,209 409,498
  Paychex Inc. 3,080,021 378,227
  Quanta Services Inc. 1,387,629 360,506
  Vulcan Materials Co. 1,258,691 343,522
  Verisk Analytics Inc. 1,365,679 321,931
  Rockwell Automation Inc. 1,092,086 318,157
  Equifax Inc. 1,181,172 315,987
* Fair Isaac Corp. 225,178 281,385
* Mettler-Toledo International Inc. 205,126 273,082
* Waters Corp. 566,486 195,001
  Martin Marietta Materials Inc. 296,626 182,111
  JB Hunt Transport Services Inc. 793,326 158,070
  HEICO Corp. Class A 721,528 111,072
  Veralto Corp. 1,139,795 101,054
* Teledyne Technologies Inc. 229,783 98,650
  HEICO Corp. 393,115 75,085
  Jack Henry & Associates Inc. 360,787 62,680
*,1 Symbotic Inc. 306,991 13,815
      20,086,682
Real Estate (1.5%)
  American Tower Corp. 4,413,880 872,139
  Equinix Inc. 896,246 739,699
  Welltower Inc. 5,401,391 504,706
* CoStar Group Inc. 3,889,165 375,693
  SBA Communications Corp. 1,032,924 223,835
  Realty Income Corp. 4,118,473 222,809
  Public Storage 757,485 219,716
  Sun Communities Inc. 1,196,838 153,889
* Zillow Group Inc. Class C 406,618 19,835
* Zillow Group Inc. Class A 102,007 4,882
      3,337,203
Technology (56.1%)
  Microsoft Corp. 69,842,147 29,383,988

    Shares Market
Value
($000)
  Apple Inc. 137,795,038 23,629,093
  NVIDIA Corp. 22,272,866 20,124,871
  Meta Platforms Inc. Class A 20,766,445 10,083,770
* Alphabet Inc. Class A 55,141,564 8,322,516
* Alphabet Inc. Class C 45,125,536 6,870,814
* Advanced Micro Devices Inc. 15,262,019 2,754,642
  Salesforce Inc. 8,687,331 2,616,450
* Adobe Inc. 4,269,617 2,154,449
  Intuit Inc. 2,514,133 1,634,186
  Applied Materials Inc. 7,865,875 1,622,179
  Texas Instruments Inc. 8,597,957 1,497,850
* ServiceNow Inc. 1,938,425 1,477,855
  Lam Research Corp. 1,240,177 1,204,919
  KLA Corp. 1,280,299 894,379
* Palo Alto Networks Inc. 3,058,901 869,126
* Synopsys Inc. 1,444,601 825,589
* Cadence Design Systems Inc. 2,578,658 802,685
* Crowdstrike Holdings Inc. Class A 2,157,813 691,773
  Amphenol Corp. Class A 5,686,584 655,947
  Marvell Technology Inc. 8,197,875 581,065
  Roper Technologies Inc. 1,015,620 569,600
* Workday Inc. Class A 1,982,884 540,832
* Autodesk Inc. 2,030,211 528,708
* Super Micro Computer Inc. 468,205 472,901
* Snowflake Inc. Class A 2,812,245 454,459
* Palantir Technologies Inc. Class A 19,040,086 438,112
* Fortinet Inc. 6,200,960 423,588
* DoorDash Inc. Class A 2,689,645 370,418
* Gartner Inc. 705,544 336,312
* Datadog Inc. Class A 2,588,943 319,993
  Monolithic Power Systems Inc. 434,489 294,332
* Atlassian Corp. Ltd. Class A 1,499,025 292,475
* ANSYS Inc. 829,794 288,071
* HubSpot Inc. 458,936 287,551
* Cloudflare Inc. Class A 2,704,260 261,854
* MongoDB Inc. 653,806 234,481
  Microchip Technology Inc. 2,585,089 231,908
* Pinterest Inc. Class A 5,698,709 197,574
* Tyler Technologies Inc. 405,731 172,440
  Teradyne Inc. 1,472,849 166,182
* Zscaler Inc. 853,473 164,405
* Okta Inc. 1,518,845 158,902
* VeriSign Inc. 824,650 156,279
* EPAM Systems Inc. 555,397 153,378
* ON Semiconductor Corp. 2,053,097 151,005
  Vertiv Holdings Co. Class A 1,753,405 143,201
* Snap Inc. Class A 10,154,104 116,569
  Bentley Systems Inc. Class B 2,206,471 115,222
  Seagate Technology Holdings plc 1,020,217 94,931
* GoDaddy Inc. Class A 696,841 82,701
* Zoom Video Communications Inc. Class A 1,137,385 74,351
* Twilio Inc. Class A 861,470 52,679
  Paycom Software Inc. 247,163 49,188
* Unity Software Inc. 1,359,363 36,295
      127,129,043
Telecommunications (0.8%)
  T-Mobile US Inc. 5,058,225 825,604
* Arista Networks Inc. 2,370,743 687,468

    Shares Market
Value
($000)
  Motorola Solutions Inc. 792,946 281,480
* Liberty Broadband Corp. Class C 594,149 34,003
* Liberty Broadband Corp. Class A 83,127 4,748
      1,833,303
Utilities (0.2%)
  Waste Connections Inc. (XTSE) 2,449,249 421,295
Total Common Stocks (Cost $101,821,700) 226,066,399
Temporary Cash Investments (0.2%)
Money Market Fund (0.2%)
3,4 Vanguard Market Liquidity Fund, 5.407% (Cost $418,073) 4,181,609 418,077
Total Investments (100.0%) (Cost $102,239,773) 226,484,476
Other Assets and Liabilities—Net (0.0%) 40,387
Net Assets (100%) 226,524,863
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 $8,640,000.
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 $9,312,000 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 June 2024 1,024 271,795 5,907
    
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 60,733 (5.327) (250)
Visa Inc. Class A 8/30/24 BANA 124,191 (5.227) (280)
          (530)
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 March 31, 2024, based on the inputs used to value them:
  Level 1
($000)
Level 2
($000)
Level 3
($000)
Total
($000)
Investments        
Assets        
Common Stocks 226,066,399 226,066,399
Temporary Cash Investments 418,077 418,077
Total 226,484,476 226,484,476
Derivative Financial Instruments
Assets        
Futures Contracts1 5,907 5,907
Liabilities        
Swap Contracts 530 530
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.