NPORT-EX 2 vg_megacapgrowth.htm
Vanguard® Mega Cap Growth Index Fund
Schedule of Investments (unaudited)
As of May 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 (99.7%)
Basic Materials (1.4%)
  Linde plc    474,999    206,872
  Ecolab Inc.    287,792     66,825
                273,697
Consumer Discretionary (20.5%)
* Amazon.com Inc.  8,448,105  1,490,584
* Tesla Inc.  2,589,874    461,205
  Costco Wholesale Corp.    428,467    347,011
* Netflix Inc.    421,141    270,212
  Walt Disney Co.  1,806,801    187,745
  McDonald's Corp.    711,715    184,256
  Booking Holdings Inc.     34,951    131,987
* Uber Technologies Inc.  1,979,236    127,779
  TJX Cos. Inc.  1,172,733    120,909
  NIKE Inc. Class B  1,243,697    118,213
  Starbucks Corp.  1,174,374     94,208
* O'Reilly Automotive Inc.     64,824     62,442
  Marriott International Inc. Class A    259,849     60,069
* Airbnb Inc. Class A    412,688     59,811
  Ross Stores Inc.    388,803     54,339
* Chipotle Mexican Grill Inc.     16,743     52,398
* Lululemon Athletica Inc.    130,753     40,794
  Estee Lauder Cos. Inc. Class A    278,507     34,357
  Hilton Worldwide Holdings Inc.    170,685     34,239
* AutoZone Inc.     11,580     32,076
  Yum! Brands Inc.    211,575     29,077
  Las Vegas Sands Corp.    383,583     17,273
              4,010,984
Consumer Staples (0.3%)
* Monster Beverage Corp.    860,818     44,694
  Hershey Co.     90,648     17,933
                 62,627
Energy (0.2%)
  Schlumberger NV    873,920     40,104
  Exxon Mobil Corp.          1         —
                 40,104
Financials (1.6%)
  S&P Global Inc.    318,553    136,184
  Moody's Corp.    173,062     68,704
  Aon plc Class A (XNYS)    209,647     59,045
  Blackstone Inc.    422,878     50,957
                314,890
Health Care (6.8%)
  Eli Lilly & Co.    811,323    665,561
* Intuitive Surgical Inc.    356,731    143,449
* Vertex Pharmaceuticals Inc.    267,482    121,795
* Boston Scientific Corp.  1,230,785     93,010
  Zoetis Inc.    447,076     75,806
  Stryker Corp.    190,244     64,890
* Edwards Lifesciences Corp.    677,488     58,867
* Regeneron Pharmaceuticals Inc.     59,198     58,024
* IDEXX Laboratories Inc.     59,340     29,489
  Agilent Technologies Inc.    211,203     27,543
              1,338,434
Industrials (6.5%)
  Visa Inc. Class A  1,512,178    412,008
  Mastercard Inc. Class A    799,260    357,325
  Accenture plc Class A    613,377    173,150
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Vanguard® Mega Cap Growth Index Fund
    Shares Market
Value
($000)
* Boeing Co.    628,882    111,696
  Sherwin-Williams Co.    246,027     74,743
  Automatic Data Processing Inc.    236,386     57,896
  Paychex Inc.    392,088     47,113
* Block Inc. (XNYS)    652,280     41,798
              1,275,729
Real Estate (1.0%)
  American Tower Corp.    489,331     95,782
  Equinix Inc.    100,859     76,953
  Public Storage    113,068     30,962
                203,697
Technology (60.6%)
  Microsoft Corp.  6,813,585  2,828,524
  Apple Inc. 13,398,286  2,575,820
  NVIDIA Corp.  2,159,617  2,367,653
  Meta Platforms Inc. Class A  1,909,954    891,624
* Alphabet Inc. Class A  3,467,030    598,063
* Alphabet Inc. Class C  2,836,050    493,359
* Advanced Micro Devices Inc.  1,564,390    261,097
  Salesforce Inc.    893,043    209,365
* Adobe Inc.    440,510    195,921
  Applied Materials Inc.    829,844    178,483
  Texas Instruments Inc.    911,341    177,721
  Intuit Inc.    264,665    152,563
* ServiceNow Inc.    205,084    134,726
  Lam Research Corp.    133,964    124,913
  KLA Corp.    141,826    107,721
* Palo Alto Networks Inc.    339,171    100,025
* Synopsys Inc.    161,670     90,664
* Cadence Design Systems Inc.    289,362     82,847
* Crowdstrike Holdings Inc. Class A    245,431     76,984
* Workday Inc. Class A    234,964     49,683
* Autodesk Inc.    241,685     48,724
* Snowflake Inc. Class A    345,038     46,987
  Marvell Technology Inc.    569,025     39,155
* Fortinet Inc.    466,280     27,660
             11,860,282
Telecommunications (0.8%)
  T-Mobile US Inc.    565,010     98,854
* Arista Networks Inc.    155,161     46,184
                145,038
Total Common Stocks (Cost $13,612,954) 19,525,482
Temporary Cash Investments (0.2%)
Money Market Fund (0.2%)
1 Vanguard Market Liquidity Fund, 5.397% (Cost $42,518)    425,253           42,521
Total Investments (99.9%) (Cost $13,655,472) 19,568,003
Other Assets and Liabilities—Net (0.1%) 12,404
Net Assets (100%) 19,580,407
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.
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Vanguard® Mega Cap Growth Index Fund

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 NASDAQ 100 Index June 2024 76 28,258 432
E-mini S&P 500 Index June 2024 12 3,177 35
        467
    
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)
Boston Scientific Corp. 8/30/24 BANA 22,671 (5.326) (57)
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.
At May 31, 2024, the counterparties had deposited in segregated accounts securities with a value of $659,000 in connection with open over-the-counter swap contracts.
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Vanguard® Mega Cap Growth Index Fund
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.
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Vanguard® Mega Cap Growth Index Fund
The following table summarizes the market value of the fund’s investments and derivatives as of May 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 19,525,482 19,525,482
Temporary Cash Investments 42,521 42,521
Total 19,568,003 19,568,003
Derivative Financial Instruments        
Assets        
Futures Contracts1 467 467
Liabilities        
Swap Contracts 57 57
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.
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