Shares | Market Value ($000) | ||
Common Stocks (99.6%) | |||
Basic Materials (1.2%) | |||
Linde plc | 75,272 | 32,783 | |
Freeport-McMoRan Inc. | 222,654 | 11,741 | |
Ecolab Inc. | 39,846 | 9,252 | |
Air Products and Chemicals Inc. | 34,497 | 9,200 | |
Dow Inc. | 54,519 | 3,142 | |
66,118 | |||
Consumer Discretionary (13.5%) | |||
* | Amazon.com Inc. | 1,451,064 | 256,026 |
* | Tesla Inc. | 420,170 | 74,824 |
Costco Wholesale Corp. | 68,861 | 55,770 | |
Home Depot Inc. | 154,484 | 51,732 | |
Walmart Inc. | 689,497 | 45,341 | |
* | Netflix Inc. | 67,170 | 43,098 |
Walt Disney Co. | 284,708 | 29,584 | |
McDonald's Corp. | 112,078 | 29,016 | |
Booking Holdings Inc. | 5,294 | 19,992 | |
* | Uber Technologies Inc. | 306,194 | 19,768 |
Lowe's Cos. Inc. | 89,263 | 19,753 | |
TJX Cos. Inc. | 176,889 | 18,237 | |
NIKE Inc. Class B | 188,937 | 17,958 | |
Starbucks Corp. | 175,737 | 14,098 | |
Target Corp. | 71,667 | 11,191 | |
* | O'Reilly Automotive Inc. | 9,181 | 8,844 |
* | Airbnb Inc. Class A | 57,791 | 8,376 |
Marriott International Inc. Class A | 35,934 | 8,307 | |
General Motors Co. | 179,106 | 8,058 | |
Ford Motor Co. | 606,604 | 7,358 | |
Ross Stores Inc. | 52,315 | 7,311 | |
* | Chipotle Mexican Grill Inc. | 2,137 | 6,688 |
* | Lululemon Athletica Inc. | 17,864 | 5,573 |
Estee Lauder Cos. Inc. Class A | 34,343 | 4,237 | |
Hilton Worldwide Holdings Inc. | 19,571 | 3,926 | |
* | AutoZone Inc. | 1,339 | 3,709 |
Yum! Brands Inc. | 21,842 | 3,002 | |
Las Vegas Sands Corp. | 29,147 | 1,312 | |
783,089 | |||
Consumer Staples (4.6%) | |||
Procter & Gamble Co. | 365,215 | 60,092 | |
Coca-Cola Co. | 602,398 | 37,909 | |
PepsiCo Inc. | 213,333 | 36,885 | |
Philip Morris International Inc. | 240,962 | 24,429 | |
Mondelez International Inc. Class A | 208,966 | 14,320 | |
Altria Group Inc. | 273,689 | 12,658 | |
Colgate-Palmolive Co. | 127,773 | 11,878 | |
CVS Health Corp. | 195,332 | 11,642 | |
McKesson Corp. | 20,407 | 11,624 | |
Kimberly-Clark Corp. | 52,302 | 6,972 | |
Constellation Brands Inc. Class A | 25,540 | 6,391 | |
* | Monster Beverage Corp. | 113,072 | 5,871 |
Sysco Corp. | 77,270 | 5,627 | |
Keurig Dr Pepper Inc. | 157,436 | 5,392 | |
Kraft Heinz Co. | 122,627 | 4,337 | |
General Mills Inc. | 44,052 | 3,028 | |
Kenvue Inc. | 148,606 | 2,868 | |
Hershey Co. | 11,580 | 2,291 | |
264,214 | |||
Energy (3.6%) | |||
Exxon Mobil Corp. | 696,345 | 81,653 | |
Chevron Corp. | 278,354 | 45,177 |
Shares | Market Value ($000) | ||
ConocoPhillips | 182,556 | 21,264 | |
EOG Resources Inc. | 90,037 | 11,214 | |
Marathon Petroleum Corp. | 58,926 | 10,407 | |
Schlumberger NV | 222,389 | 10,205 | |
Phillips 66 | 66,390 | 9,435 | |
Valero Energy Corp. | 51,598 | 8,108 | |
Occidental Petroleum Corp. | 95,543 | 5,972 | |
Williams Cos. Inc. | 94,419 | 3,919 | |
Kinder Morgan Inc. | 146,379 | 2,853 | |
210,207 | |||
Financials (9.9%) | |||
* | Berkshire Hathaway Inc. Class B | 264,090 | 109,439 |
JPMorgan Chase & Co. | 447,080 | 90,592 | |
Bank of America Corp. | 1,038,672 | 41,536 | |
Wells Fargo & Co. | 555,278 | 33,272 | |
Goldman Sachs Group Inc. | 50,600 | 23,100 | |
S&P Global Inc. | 48,731 | 20,833 | |
Progressive Corp. | 90,902 | 19,197 | |
Morgan Stanley | 190,366 | 18,625 | |
Citigroup Inc. | 280,606 | 17,485 | |
Chubb Ltd. | 62,901 | 17,035 | |
BlackRock Inc. | 21,938 | 16,937 | |
Charles Schwab Corp. | 219,999 | 16,121 | |
Marsh & McLennan Cos. Inc. | 76,308 | 15,840 | |
Blackstone Inc. | 111,659 | 13,455 | |
Intercontinental Exchange Inc. | 88,888 | 11,902 | |
CME Group Inc. | 55,881 | 11,343 | |
KKR & Co. Inc. | 103,018 | 10,594 | |
US Bancorp | 241,873 | 9,808 | |
PNC Financial Services Group Inc. | 61,761 | 9,721 | |
Moody's Corp. | 24,089 | 9,563 | |
Aon plc Class A (XNYS) | 29,255 | 8,239 | |
* | Berkshire Hathaway Inc. Class A | 13 | 8,156 |
Aflac Inc. | 89,541 | 8,047 | |
Truist Financial Corp. | 207,046 | 7,816 | |
Travelers Cos. Inc. | 35,551 | 7,668 | |
Bank of New York Mellon Corp. | 117,830 | 7,024 | |
MetLife Inc. | 95,384 | 6,903 | |
American International Group Inc. | 52,811 | 4,163 | |
574,414 | |||
Health Care (11.9%) | |||
Eli Lilly & Co. | 132,741 | 108,893 | |
UnitedHealth Group Inc. | 143,574 | 71,122 | |
Johnson & Johnson | 373,881 | 54,837 | |
Merck & Co. Inc. | 393,318 | 49,377 | |
AbbVie Inc. | 274,192 | 44,211 | |
Thermo Fisher Scientific Inc. | 59,184 | 33,615 | |
Abbott Laboratories | 269,342 | 27,524 | |
Danaher Corp. | 103,343 | 26,539 | |
Amgen Inc. | 83,178 | 25,440 | |
Pfizer Inc. | 876,463 | 25,120 | |
* | Intuitive Surgical Inc. | 54,695 | 21,994 |
Elevance Health Inc. | 36,118 | 19,449 | |
* | Vertex Pharmaceuticals Inc. | 40,099 | 18,259 |
Stryker Corp. | 53,125 | 18,120 | |
* | Boston Scientific Corp. | 227,728 | 17,209 |
Medtronic plc | 206,386 | 16,794 | |
Cigna Group | 45,397 | 15,645 | |
* | Regeneron Pharmaceuticals Inc. | 15,916 | 15,600 |
Bristol-Myers Squibb Co. | 313,876 | 12,897 | |
Gilead Sciences Inc. | 193,402 | 12,430 | |
Zoetis Inc. | 63,956 | 10,844 | |
HCA Healthcare Inc. | 30,787 | 10,460 | |
Becton Dickinson & Co. | 44,852 | 10,404 | |
* | Edwards Lifesciences Corp. | 93,269 | 8,104 |
Humana Inc. | 18,717 | 6,703 | |
* | IDEXX Laboratories Inc. | 6,442 | 3,201 |
Agilent Technologies Inc. | 22,760 | 2,968 | |
687,759 |
Shares | Market Value ($000) | ||
Industrials (9.5%) | |||
Visa Inc. Class A | 245,452 | 66,876 | |
Mastercard Inc. Class A | 129,309 | 57,810 | |
Accenture plc Class A | 97,331 | 27,475 | |
General Electric Co. | 161,285 | 26,635 | |
Caterpillar Inc. | 77,511 | 26,239 | |
RTX Corp. | 205,945 | 22,203 | |
Union Pacific Corp. | 94,661 | 22,039 | |
Eaton Corp. plc | 61,986 | 20,632 | |
Honeywell International Inc. | 101,238 | 20,469 | |
American Express Co. | 78,634 | 18,872 | |
Lockheed Martin Corp. | 37,515 | 17,645 | |
* | Boeing Co. | 94,710 | 16,821 |
United Parcel Service Inc. Class B (XNYS) | 112,814 | 15,673 | |
Automatic Data Processing Inc. | 63,761 | 15,616 | |
Deere & Co. | 41,293 | 15,475 | |
* | Fiserv Inc. | 91,603 | 13,718 |
Trane Technologies plc | 35,252 | 11,544 | |
General Dynamics Corp. | 38,265 | 11,471 | |
Sherwin-Williams Co. | 35,545 | 10,799 | |
Illinois Tool Works Inc. | 44,015 | 10,685 | |
Parker-Hannifin Corp. | 19,926 | 10,591 | |
* | PayPal Holdings Inc. | 166,325 | 10,477 |
CSX Corp. | 303,961 | 10,259 | |
Emerson Electric Co. | 88,747 | 9,954 | |
Northrop Grumman Corp. | 20,954 | 9,445 | |
FedEx Corp. | 34,919 | 8,868 | |
3M Co. | 85,788 | 8,591 | |
Norfolk Southern Corp. | 35,074 | 7,885 | |
Capital One Financial Corp. | 56,076 | 7,718 | |
Paychex Inc. | 50,274 | 6,041 | |
* | Block Inc. (XNYS) | 86,181 | 5,522 |
Johnson Controls International plc | 52,885 | 3,803 | |
* | GE Vernova Inc. | 20,170 | 3,548 |
551,399 | |||
Real Estate (1.0%) | |||
Prologis Inc. | 143,574 | 15,864 | |
American Tower Corp. | 72,348 | 14,161 | |
Equinix Inc. | 14,687 | 11,206 | |
Crown Castle Inc. | 67,359 | 6,904 | |
Public Storage | 24,561 | 6,726 | |
Simon Property Group Inc. | 24,039 | 3,637 | |
58,498 | |||
Technology (40.7%) | |||
Microsoft Corp. | 1,153,327 | 478,781 | |
Apple Inc. | 2,277,003 | 437,754 | |
NVIDIA Corp. | 368,641 | 404,152 | |
Meta Platforms Inc. Class A | 341,489 | 159,417 | |
* | Alphabet Inc. Class A | 909,555 | 156,898 |
* | Alphabet Inc. Class C | 753,306 | 131,045 |
Broadcom Inc. | 72,671 | 96,547 | |
* | Advanced Micro Devices Inc. | 250,795 | 41,858 |
QUALCOMM Inc. | 173,229 | 35,347 | |
Salesforce Inc. | 142,740 | 33,464 | |
* | Adobe Inc. | 70,152 | 31,201 |
Oracle Corp. | 256,016 | 30,003 | |
Applied Materials Inc. | 129,158 | 27,779 | |
Texas Instruments Inc. | 141,153 | 27,526 | |
Intuit Inc. | 41,285 | 23,798 | |
International Business Machines Corp. | 141,725 | 23,647 | |
Micron Technology Inc. | 171,334 | 21,417 | |
* | ServiceNow Inc. | 31,818 | 20,902 |
Intel Corp. | 656,248 | 20,245 | |
Lam Research Corp. | 20,360 | 18,984 | |
Analog Devices Inc. | 76,978 | 18,051 | |
KLA Corp. | 20,986 | 15,940 | |
* | Palo Alto Networks Inc. | 50,148 | 14,789 |
* | Synopsys Inc. | 23,666 | 13,272 |
* | Cadence Design Systems Inc. | 42,270 | 12,102 |
Shares | Market Value ($000) | ||
* | Crowdstrike Holdings Inc. Class A | 35,333 | 11,083 |
Roper Technologies Inc. | 16,623 | 8,856 | |
TE Connectivity Ltd. | 47,881 | 7,168 | |
* | Workday Inc. Class A | 32,454 | 6,862 |
* | Autodesk Inc. | 33,202 | 6,694 |
* | Snowflake Inc. Class A | 46,012 | 6,266 |
Dell Technologies Inc. Class C | 37,370 | 5,215 | |
Marvell Technology Inc. | 67,097 | 4,617 | |
* | Fortinet Inc. | 50,659 | 3,005 |
2,354,685 | |||
Telecommunications (2.1%) | |||
Cisco Systems Inc. | 565,648 | 26,303 | |
Comcast Corp. Class A | 615,022 | 24,619 | |
Verizon Communications Inc. | 587,296 | 24,167 | |
AT&T Inc. | 1,109,780 | 20,220 | |
T-Mobile US Inc. | 82,896 | 14,504 | |
* | Arista Networks Inc. | 19,415 | 5,779 |
* | Charter Communications Inc. Class A | 14,652 | 4,207 |
119,799 | |||
Utilities (1.6%) | |||
NextEra Energy Inc. | 314,110 | 25,135 | |
Southern Co. | 169,418 | 13,577 | |
Waste Management Inc. | 62,334 | 13,136 | |
Duke Energy Corp. | 119,658 | 12,393 | |
Sempra | 97,690 | 7,525 | |
American Electric Power Co. Inc. | 79,951 | 7,216 | |
Republic Services Inc. | 31,752 | 5,880 | |
Dominion Energy Inc. | 64,939 | 3,501 | |
Exelon Corp. | 77,139 | 2,897 | |
91,260 | |||
Total Common Stocks (Cost $3,539,612) | 5,761,442 | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
1 | Vanguard Market Liquidity Fund, 5.397% (Cost $15,627) | 156,290 | 15,628 |
Total Investments (99.9%) (Cost $3,555,239) | 5,777,070 | ||
Other Assets and Liabilities—Net (0.1%) | 6,963 | ||
Net Assets (100%) | 5,784,033 | ||
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. |
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 | 88 | 23,300 | 224 |
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 |
C. | 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. |