NPORT-EX 2 vg_midcapvalueindex.htm
Vanguard® Mid-Cap Value Index Fund
Schedule of Investments (unaudited)
As of September 30, 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 (5.1%)
  Newmont Corp. 7,902,764 422,403
  Nucor Corp. 1,627,662 244,703
  International Flavors & Fragrances Inc. 1,752,873 183,929
  LyondellBasell Industries NV Class A 1,784,599 171,143
  Avery Dennison Corp. 552,604 121,993
  International Paper Co. 2,381,085 116,316
  CF Industries Holdings Inc. 1,237,185 106,150
  Celanese Corp. 748,886 101,819
  Steel Dynamics Inc. 502,667 63,376
  Westlake Corp. 131,861 19,817
  Albemarle Corp. 200,604 18,999
            1,570,648
Consumer Discretionary (10.9%)
  DR Horton Inc. 2,012,221 383,871
  Lennar Corp. Class A 1,606,957 301,272
  Electronic Arts Inc. 1,812,537 259,990
  Delta Air Lines Inc. 4,426,982 224,846
  eBay Inc. 3,353,772 218,364
  PulteGroup Inc. 1,422,965 204,238
  Garmin Ltd. 1,054,983 185,709
  Omnicom Group Inc. 1,339,297 138,470
  Best Buy Co. Inc. 1,331,315 137,525
  Genuine Parts Co. 955,053 133,402
  Darden Restaurants Inc. 812,445 133,347
* United Airlines Holdings Inc. 2,254,413 128,637
  Dollar General Corp. 1,507,430 127,483
  Southwest Airlines Co. 4,106,824 121,685
* Warner Bros Discovery Inc. 13,572,472 111,973
* NVR Inc. 10,040 98,511
* Dollar Tree Inc. 1,399,347 98,402
  News Corp. Class A 3,407,118 90,732
  Fox Corp. Class A 1,823,940 77,207
  Estee Lauder Cos. Inc. Class A 758,779 75,643
* Carvana Co. 403,257 70,211
* MGM Resorts International 779,645 30,476
  Lennar Corp. Class B 122,627 21,207
  Fox Corp. Class B 494,668 19,193
            3,392,394
Consumer Staples (8.5%)
  Kenvue Inc. 13,136,293 303,842
  General Mills Inc. 3,818,292 281,981
  Corteva Inc. 4,716,888 277,306
  Cencora Inc. 1,210,306 272,416
  Sysco Corp. 3,371,750 263,199
  Kroger Co. 4,455,962 255,326
  Archer-Daniels-Midland Co. 3,278,934 195,883
  Kellanova 1,887,414 152,333
  McCormick & Co. Inc. (Non-Voting) 1,728,319 142,241
  Clorox Co. 849,549 138,400
  Tyson Foods Inc. Class A 1,959,497 116,708
  Conagra Brands Inc. 3,284,349 106,807
  Hormel Foods Corp. 2,067,665 65,545
  Campbell Soup Co. 1,331,006 65,113
  Walgreens Boots Alliance Inc. 2,347,990 21,038
            2,658,138
Energy (4.3%)
  ONEOK Inc. 4,006,450 365,108
  Cheniere Energy Inc. 1,474,603 265,193
  Baker Hughes Co. 6,813,012 246,290
  Williams Cos. Inc. 4,181,239 190,873
  Kinder Morgan Inc. 6,470,700 142,938

          Shares Market
Value
($000)
  Halliburton Co. 2,722,363 79,085
  Marathon Oil Corp. 1,917,088 51,052
            1,340,539
Financials (16.9%)
  Arthur J Gallagher & Co. 1,502,893 422,869
  Allstate Corp. 1,810,876 343,433
  Ameriprise Financial Inc. 673,672 316,498
  Prudential Financial Inc. 2,448,061 296,460
* Arch Capital Group Ltd. 2,450,437 274,155
  Discover Financial Services 1,721,733 241,542
  Hartford Financial Services Group Inc. 2,010,501 236,455
  Nasdaq Inc. 3,160,809 230,771
  Willis Towers Watson plc 696,675 205,192
  M&T Bank Corp. 1,145,423 204,023
  Fifth Third Bancorp 4,643,835 198,942
  State Street Corp. 1,945,275 172,098
  T. Rowe Price Group Inc. 1,526,111 166,239
  American International Group Inc. 2,206,420 161,576
  Raymond James Financial Inc. 1,271,357 155,690
  Cboe Global Markets Inc. 717,688 147,033
  Regions Financial Corp. 6,276,388 146,428
  Huntington Bancshares Inc. 9,960,487 146,419
  Cincinnati Financial Corp. 1,071,135 145,803
  Principal Financial Group Inc. 1,587,311 136,350
  Citizens Financial Group Inc. 2,919,475 119,903
  Northern Trust Corp. 1,313,715 118,274
  Everest Group Ltd. 296,798 116,294
  W R Berkley Corp. 1,957,878 111,070
  Fidelity National Financial Inc. 1,781,321 110,549
  KeyCorp 6,360,270 106,535
  Loews Corp. 1,280,940 101,258
* Markel Group Inc. 42,155 66,124
  Corebridge Financial Inc. 1,623,597 47,344
  Franklin Resources Inc. 1,067,462 21,509
            5,266,836
Health Care (6.6%)
  GE HealthCare Technologies Inc. 2,975,403 279,242
* Centene Corp. 3,607,057 271,539
* Biogen Inc. 998,773 193,602
  Cardinal Health Inc. 1,672,875 184,886
  Zimmer Biomet Holdings Inc. 1,396,754 150,780
  Baxter International Inc. 3,498,091 132,823
* Hologic Inc. 1,594,167 129,861
  Labcorp Holdings Inc. 575,700 128,657
  Quest Diagnostics Inc. 763,376 118,514
* Avantor Inc. 4,428,877 114,575
  Revvity Inc. 845,512 108,014
  Viatris Inc. 8,177,522 94,941
  STERIS plc 338,225 82,033
  Royalty Pharma plc Class A 2,611,881 73,890
            2,063,357
Industrials (20.4%)
  Carrier Global Corp. 5,881,896 473,434
  United Rentals Inc. 453,540 367,245
  PACCAR Inc. 3,595,355 354,790
  Fidelity National Information Services Inc. 3,741,339 313,337
  L3Harris Technologies Inc. 1,301,135 309,501
  Cummins Inc. 939,948 304,346
  Otis Worldwide Corp. 2,747,913 285,618
  Ferguson Enterprises Inc. 1,381,012 274,228
  Dow Inc. 4,823,301 263,497
  DuPont de Nemours Inc. 2,576,812 229,620
  Westinghouse Air Brake Technologies Corp. 1,201,775 218,447
  PPG Industries Inc. 1,600,623 212,018
* Keysight Technologies Inc. 1,196,680 190,188
  Fortive Corp. 2,402,437 189,624
  Dover Corp. 943,044 180,819
  Global Payments Inc. 1,744,124 178,633

          Shares Market
Value
($000)
  Johnson Controls International plc 2,291,217 177,821
  Ball Corp. 2,081,546 141,358
  Ingersoll Rand Inc. 1,383,295 135,784
  Synchrony Financial 2,709,060 135,128
  Packaging Corp. of America 616,201 132,730
* Zebra Technologies Corp. Class A 353,719 130,989
  Expeditors International of Washington Inc. 968,112 127,210
  Masco Corp. 1,497,888 125,733
* GE Vernova Inc. 471,006 120,097
  Stanley Black & Decker Inc. 1,054,693 116,153
  Textron Inc. 1,284,885 113,815
  Jacobs Solutions Inc. 852,301 111,566
  Snap-on Inc. 361,453 104,717
  Rockwell Automation Inc. 388,945 104,416
  Hubbell Inc. Class B 184,040 78,834
  TransUnion 665,633 69,692
* Trimble Inc. 837,931 52,027
* Amentum Holdings Inc. 417,955 13,479
            6,336,894
Real Estate (8.4%)
  Digital Realty Trust Inc. 2,245,259 363,350
* CBRE Group Inc. Class A 2,101,132 261,549
  Iron Mountain Inc. 2,011,859 239,069
  VICI Properties Inc. Class A 7,155,835 238,361
  AvalonBay Communities Inc. 975,695 219,775
  Equity Residential 2,470,776 183,974
  Ventas Inc. 2,833,043 181,683
  Simon Property Group Inc. 1,062,126 179,521
  Weyerhaeuser Co. 4,986,504 168,843
  Alexandria Real Estate Equities Inc. 1,198,486 142,320
  Essex Property Trust Inc. 440,538 130,144
  Mid-America Apartment Communities Inc. 801,599 127,374
  WP Carey Inc. 1,500,224 93,464
  Healthpeak Properties Inc. 2,395,586 54,787
  UDR Inc. 566,169 25,670
            2,609,884
Technology (7.1%)
  Cognizant Technology Solutions Corp. Class A 3,399,405 262,366
  HP Inc. 6,711,633 240,746
  Corning Inc. 5,281,415 238,456
  CDW Corp. 916,203 207,337
  Hewlett Packard Enterprise Co. 8,910,525 182,309
  NetApp Inc. 1,404,961 173,527
* Western Digital Corp. 2,354,059 160,759
  Microchip Technology Inc. 1,839,813 147,718
* Zoom Video Communications Inc. Class A 1,617,635 112,814
  Skyworks Solutions Inc. 1,095,616 108,214
  SS&C Technologies Holdings Inc. 1,431,733 106,249
* Akamai Technologies Inc. 1,039,047 104,892
  Gen Digital Inc. 3,588,811 98,441
  Leidos Holdings Inc. 462,508 75,389
            2,219,217
Utilities (11.6%)
  Public Service Enterprise Group Inc. 3,417,338 304,861
  PG&E Corp. 14,347,172 283,644
  Exelon Corp. 6,854,388 277,945
  Xcel Energy Inc. 3,822,574 249,614
  Consolidated Edison Inc. 2,374,170 247,222
  Edison International 2,633,182 229,324
  WEC Energy Group Inc. 2,167,137 208,435
  American Water Works Co. Inc. 1,335,894 195,361
  Entergy Corp. 1,466,503 193,006
  Eversource Energy 2,449,039 166,657
  FirstEnergy Corp. 3,755,554 166,559
  Ameren Corp. 1,827,154 159,803
  PPL Corp. 4,809,484 159,098
  DTE Energy Co. 1,205,972 154,859
  CMS Energy Corp. 2,049,317 144,743

          Shares Market
Value
($000)
  CenterPoint Energy Inc. 4,451,623 130,967
  Dominion Energy Inc. 2,056,506 118,846
  Alliant Energy Corp. 1,759,750 106,799
  NiSource Inc. 1,541,294 53,406
  Evergy Inc. 748,031 46,385
  Avangrid Inc. 533,058 19,078
            3,616,612
Total Common Stocks (Cost $21,300,046) 31,074,519
      Coupon      
Temporary Cash Investments (0.0%)
Money Market Fund (0.0%)
1,2 Vanguard Market Liquidity Fund
(Cost $9,749)
5.014%   97,564 9,757
Total Investments (99.8%) (Cost $21,309,795)   31,084,276
Other Assets and Liabilities—Net (0.2%)   71,208
Net Assets (100%)   31,155,484
Cost is in $000.
* Non-income-producing security.
1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
2 Collateral of $642,000 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 2024 17 4,942
E-mini S&P Mid-Cap 400 Index December 2024 56 17,632 (6)
        (6)
    
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)
Dominion Energy Inc. 1/31/25 CITNA 45,838 (5.125) 1,920
Warner Bros Discovery Inc. 1/31/25 CITNA 12,074 (5.143) 585
          2,505
1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly.
  CITNA—Citibank, N.A.
At September 30, 2024, the counterparties had deposited in segregated accounts securities with a value of $2,109,000 in connection with open over-the-counter swap contracts.

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, 2024, based on the inputs used to value them:
  Level 1
($000)
Level 2
($000)
Level 3
($000)
Total
($000)
Investments        
Assets        
Common Stocks 31,074,519 31,074,519
Temporary Cash Investments 9,757 9,757
Total 31,084,276 31,084,276
Derivative Financial Instruments        
Assets        
Swap Contracts 2,505 2,505
Liabilities        
Futures Contracts1 (6) (6)
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.