Shares | Market Value ($000) | |||||
Common Stocks (97.0%) | ||||||
Australia (2.5%) | ||||||
BHP Group Ltd. (XASX) | 677,588 | 20,109 | ||||
1 | BHP Group Ltd. ADR | 293,870 | 17,350 | |||
37,459 | ||||||
Austria (1.1%) | ||||||
2 | BAWAG Group AG | 336,663 | 16,420 | |||
Brazil (2.9%) | ||||||
1 | Banco Bradesco SA ADR | 9,155,105 | 25,634 | |||
Vale SA Class B ADR | 1,154,895 | 16,642 | ||||
42,276 | ||||||
Canada (15.6%) | ||||||
Barrick Gold Corp. | 8,247,536 | 157,033 | ||||
Intact Financial Corp. | 270,193 | 40,871 | ||||
Endeavour Mining plc | 659,786 | 16,986 | ||||
Agnico Eagle Mines Ltd. | 286,965 | 16,280 | ||||
* | Foran Mining Corp. | 314,757 | 864 | |||
232,034 | ||||||
China (5.9%) | ||||||
* | Alibaba Group Holding Ltd. | 4,760,744 | 50,338 | |||
Contemporary Amperex Technology Co. Ltd. Class A | 667,150 | 22,325 | ||||
Sinoma Science & Technology Co. Ltd. Class A | 4,953,200 | 15,120 | ||||
87,783 | ||||||
France (2.6%) | ||||||
Engie SA | 2,381,666 | 38,117 | ||||
Germany (5.6%) | ||||||
Rheinmetall AG | 161,393 | 47,271 | ||||
Bayer AG (Registered) | 545,555 | 36,005 | ||||
83,276 | ||||||
Greece (0.6%) | ||||||
* | Public Power Corp. SA | 1,080,483 | 9,324 | |||
Italy (1.6%) | ||||||
UniCredit SpA | 1,159,004 | 22,966 | ||||
Japan (5.0%) | ||||||
Panasonic Holdings Corp. | 2,446,600 | 23,044 | ||||
Nikon Corp. | 1,472,202 | 15,218 | ||||
Mitsubishi UFJ Financial Group Inc. | 2,247,800 | 14,070 | ||||
Ebara Corp. | 321,200 | 14,053 |
Shares | Market Value ($000) | |||||
Rohm Co. Ltd. | 111,000 | 8,357 | ||||
74,742 | ||||||
South Korea (2.9%) | ||||||
Samsung Electronics Co. Ltd. | 884,279 | 43,510 | ||||
Switzerland (2.6%) | ||||||
Novartis AG (Registered) | 373,666 | 38,224 | ||||
United Kingdom (21.5%) | ||||||
Glencore plc | 13,182,846 | 77,814 | ||||
Unilever plc | 811,595 | 45,191 | ||||
* | Nomad Foods Ltd. | 2,398,268 | 45,087 | |||
Anglo American plc | 1,303,992 | 40,181 | ||||
Rio Tinto plc ADR | 567,573 | 36,319 | ||||
Haleon plc | 6,026,994 | 26,499 | ||||
* | John Wood Group plc | 7,774,205 | 22,059 | |||
* | Babcock International Group plc | 4,009,566 | 16,028 | |||
Fresnillo plc | 1,210,683 | 10,835 | ||||
320,013 | ||||||
United States (26.6%) | ||||||
American Electric Power Co. Inc. | 1,074,552 | 99,310 | ||||
BWX Technologies Inc. | 1,318,456 | 85,146 | ||||
Intel Corp. | 1,368,049 | 42,492 | ||||
* | Enstar Group Ltd. | 175,285 | 42,174 | |||
Viper Energy Partners LP | 1,212,762 | 35,704 | ||||
Newmont Corp. | 590,620 | 27,995 | ||||
Schlumberger NV | 523,533 | 25,836 | ||||
Exelon Corp. | 331,845 | 14,084 | ||||
* | Diamond Offshore Drilling Inc. | 1,165,041 | 13,386 | |||
* | Fluor Corp. | 318,722 | 9,262 | |||
* | Metals Acquisition Corp. Warrants Exp. 7/12/26 | 330,300 | 284 | |||
395,673 | ||||||
Total Common Stocks (Cost $1,274,579) | 1,441,817 | |||||
Coupon | ||||||
Temporary Cash Investments (3.8%) | ||||||
Money Market Fund (3.8%) | ||||||
3,4 | Vanguard Market Liquidity Fund (Cost $55,933) | 4.853% | 559,389 | 55,933 | ||
Total Investments (100.8%) (Cost $1,330,512) | 1,497,750 | |||||
Other Assets and Liabilities—Net (-0.8%) | (12,313) | |||||
Net Assets (100%) | 1,485,437 |
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 $17,746,000. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At April 30, 2023, the aggregate value was $16,420,000, representing 1.1% of net assets. |
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 $18,783,000 was received for securities on loan. |
ADR—American Depositary Receipt. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks—North and South America | 669,983 | — | — | 669,983 |
Common Stocks—Other | 98,756 | 673,078 | — | 771,834 |
Temporary Cash Investments | 55,933 | — | — | 55,933 |
Total | 824,672 | 673,078 | — | 1,497,750 |