Shares | Market Value ($000) | ||
Common Stocks (94.9%) | |||
Communication Services (6.0%) | |||
* | Alphabet Inc. Class A | 90,940 | 198,182 |
* | Alphabet Inc. Class C | 70,037 | 153,202 |
* | T-Mobile US Inc. | 488,657 | 65,744 |
* | Walt Disney Co. | 604,835 | 57,096 |
Activision Blizzard Inc. | 651,400 | 50,718 | |
* | Meta Platforms Inc. Class A | 149,200 | 24,058 |
Nintendo Co. Ltd. | 50,750 | 21,825 | |
* | Charter Communications Inc. Class A | 41,450 | 19,421 |
Electronic Arts Inc. | 154,850 | 18,838 | |
Comcast Corp. Class A | 178,538 | 7,006 | |
* | Altice USA Inc. Class A | 568,000 | 5,254 |
* | Netflix Inc. | 7,300 | 1,277 |
622,621 | |||
Consumer Discretionary (10.3%) | |||
Sony Group Corp. ADR | 1,850,200 | 151,291 | |
* | Mattel Inc. | 6,088,471 | 135,956 |
Whirlpool Corp. | 713,974 | 110,573 | |
* | CarMax Inc. | 1,162,790 | 105,209 |
* | Alibaba Group Holding Ltd. ADR | 851,700 | 96,821 |
TJX Cos. Inc. | 1,604,600 | 89,617 | |
Ross Stores Inc. | 1,052,680 | 73,930 | |
* | Dollar Tree Inc. | 347,200 | 54,111 |
* | Tesla Inc. | 79,800 | 53,739 |
Newell Brands Inc. | 1,670,000 | 31,797 | |
Marriott International Inc. Class A | 184,290 | 25,065 | |
* | Capri Holdings Ltd. | 440,000 | 18,044 |
* | Royal Caribbean Cruises Ltd. | 474,300 | 16,558 |
Bath & Body Works Inc. | 584,300 | 15,729 | |
McDonald's Corp. | 53,000 | 13,085 | |
* | Carnival Corp. | 1,432,100 | 12,388 |
* | Victoria's Secret & Co. | 439,933 | 12,305 |
* | Burlington Stores Inc. | 62,500 | 8,514 |
* | Leslie's Inc. | 511,100 | 7,759 |
Restaurant Brands International Inc. | 151,200 | 7,583 | |
Lowe's Cos. Inc. | 35,000 | 6,113 | |
MGM Resorts International | 95,000 | 2,750 | |
* | O'Reilly Automotive Inc. | 4,300 | 2,717 |
* | Las Vegas Sands Corp. | 79,600 | 2,674 |
* | AutoZone Inc. | 1,055 | 2,267 |
* | Amazon.com Inc. | 14,500 | 1,540 |
Hilton Worldwide Holdings Inc. | 13,800 | 1,538 |
Shares | Market Value ($000) | ||
* | Norwegian Cruise Line Holdings Ltd. | 68,440 | 761 |
1,060,434 | |||
Consumer Staples (0.7%) | |||
Sysco Corp. | 231,500 | 19,610 | |
* | BJ's Wholesale Club Holdings Inc. | 306,600 | 19,107 |
Tyson Foods Inc. Class A | 187,700 | 16,153 | |
Altria Group Inc. | 248,924 | 10,398 | |
Mowi ASA | 157,000 | 3,590 | |
Philip Morris International Inc. | 15,500 | 1,531 | |
Kroger Co. | 25,000 | 1,183 | |
Constellation Brands Inc. Class A | 4,400 | 1,026 | |
72,598 | |||
Energy (3.1%) | |||
Pioneer Natural Resources Co. | 691,673 | 154,298 | |
EOG Resources Inc. | 333,221 | 36,801 | |
Valero Energy Corp. | 311,900 | 33,149 | |
Coterra Energy Inc. | 1,037,050 | 26,745 | |
Hess Corp. | 235,000 | 24,896 | |
Cameco Corp. | 962,800 | 20,238 | |
* | Southwestern Energy Co. | 2,000,000 | 12,500 |
* | Transocean Ltd. (XNYS) | 1,237,200 | 4,120 |
* | TechnipFMC plc | 597,500 | 4,021 |
Schlumberger NV | 47,700 | 1,706 | |
Technip Energies NV | 7,820 | 98 | |
318,572 | |||
Financials (8.9%) | |||
Raymond James Financial Inc. | 1,808,560 | 161,703 | |
Wells Fargo & Co. | 4,099,400 | 160,573 | |
JPMorgan Chase & Co. | 1,379,016 | 155,291 | |
Northern Trust Corp. | 1,090,650 | 105,226 | |
Goldman Sachs Group Inc. | 278,200 | 82,631 | |
Discover Financial Services | 547,281 | 51,762 | |
Charles Schwab Corp. | 714,024 | 45,112 | |
Evercore Inc. Class A | 410,800 | 38,455 | |
Marsh & McLennan Cos. Inc. | 220,612 | 34,250 | |
US Bancorp | 593,300 | 27,304 | |
Bank of America Corp. | 539,059 | 16,781 | |
CME Group Inc. | 80,450 | 16,468 | |
Progressive Corp. | 138,300 | 16,080 | |
Morgan Stanley | 171,400 | 13,037 | |
924,673 | |||
Health Care (27.4%) | |||
Eli Lilly & Co. | 2,290,682 | 742,708 | |
AstraZeneca plc ADR | 5,656,820 | 373,746 | |
Amgen Inc. | 1,459,470 | 355,089 | |
* | Biogen Inc. | 1,169,827 | 238,575 |
Thermo Fisher Scientific Inc. | 359,840 | 195,494 | |
Novartis AG ADR | 1,740,270 | 147,105 | |
Bristol-Myers Squibb Co. | 1,862,280 | 143,396 | |
* | Boston Scientific Corp. | 2,998,230 | 111,744 |
* | Elanco Animal Health Inc. (XNYS) | 4,366,091 | 85,706 |
Roche Holding AG | 220,493 | 73,711 | |
CVS Health Corp. | 658,900 | 61,054 | |
Zimmer Biomet Holdings Inc. | 551,950 | 57,988 | |
* | LivaNova plc | 730,300 | 45,622 |
Abbott Laboratories | 332,870 | 36,166 | |
Agilent Technologies Inc. | 261,350 | 31,041 |
Shares | Market Value ($000) | ||
* | BioMarin Pharmaceutical Inc. | 288,770 | 23,930 |
* | IQVIA Holdings Inc. | 88,222 | 19,143 |
1 | Siemens Healthineers AG | 358,975 | 18,303 |
* | Illumina Inc. | 97,500 | 17,975 |
Stryker Corp. | 55,820 | 11,104 | |
Alcon Inc. | 125,260 | 8,754 | |
Humana Inc. | 17,844 | 8,352 | |
Sanofi ADR | 135,300 | 6,769 | |
Medtronic plc | 59,600 | 5,349 | |
Danaher Corp. | 19,140 | 4,852 | |
UnitedHealth Group Inc. | 8,489 | 4,360 | |
* | Waters Corp. | 10,431 | 3,453 |
* | Zimvie Inc. | 31,040 | 497 |
2,831,986 | |||
Industrials (14.1%) | |||
* | Southwest Airlines Co. | 6,583,969 | 237,813 |
FedEx Corp. | 838,700 | 190,142 | |
AECOM | 2,810,300 | 183,288 | |
Siemens AG (Registered) | 1,542,528 | 158,566 | |
Jacobs Engineering Group Inc. | 952,595 | 121,103 | |
United Parcel Service Inc. Class B | 497,900 | 90,887 | |
Airbus SE | 626,409 | 61,269 | |
* | United Airlines Holdings Inc. | 1,465,340 | 51,902 |
* | TransDigm Group Inc. | 81,850 | 43,926 |
* | Delta Air Lines Inc. | 1,515,640 | 43,908 |
General Dynamics Corp. | 156,800 | 34,692 | |
Union Pacific Corp. | 157,900 | 33,677 | |
Caterpillar Inc. | 186,740 | 33,382 | |
Textron Inc. | 533,060 | 32,554 | |
* | American Airlines Group Inc. | 2,199,000 | 27,883 |
Carrier Global Corp. | 462,500 | 16,493 | |
* | XPO Logistics Inc. | 270,700 | 13,037 |
Deere & Co. | 35,830 | 10,730 | |
* | GXO Logistics Inc. | 246,100 | 10,649 |
Otis Worldwide Corp. | 145,500 | 10,283 | |
CSX Corp. | 339,000 | 9,851 | |
* | Saia Inc. | 45,300 | 8,516 |
L3Harris Technologies Inc. | 34,000 | 8,218 | |
Science Applications International Corp. | 80,000 | 7,448 | |
Rockwell Automation Inc. | 25,650 | 5,112 | |
Pentair plc | 87,100 | 3,987 | |
Old Dominion Freight Line Inc. | 4,500 | 1,153 | |
AMETEK Inc. | 10,000 | 1,099 | |
1,451,568 | |||
Information Technology (22.5%) | |||
Microsoft Corp. | 1,196,900 | 307,400 | |
Texas Instruments Inc. | 1,516,600 | 233,026 | |
Intel Corp. | 5,702,700 | 213,338 | |
KLA Corp. | 644,700 | 205,711 | |
* | Flex Ltd. | 8,416,200 | 121,782 |
Applied Materials Inc. | 1,088,500 | 99,032 | |
Micron Technology Inc. | 1,715,860 | 94,853 | |
HP Inc. | 2,677,243 | 87,760 | |
Hewlett Packard Enterprise Co. | 6,161,778 | 81,705 | |
QUALCOMM Inc. | 559,520 | 71,473 | |
Intuit Inc. | 181,550 | 69,977 | |
Visa Inc. Class A | 353,100 | 69,522 |
Shares | Market Value ($000) | ||
Analog Devices Inc. | 456,700 | 66,719 | |
Oracle Corp. | 947,200 | 66,181 | |
Telefonaktiebolaget LM Ericsson ADR | 8,854,045 | 65,520 | |
ASML Holding NV GDR (Registered) | 130,000 | 61,864 | |
* | Adobe Inc. | 159,100 | 58,240 |
NetApp Inc. | 768,000 | 50,104 | |
Apple Inc. | 341,000 | 46,621 | |
Cisco Systems Inc. | 929,100 | 39,617 | |
Corning Inc. | 1,005,200 | 31,674 | |
Fidelity National Information Services Inc. | 313,300 | 28,720 | |
* | WEX Inc. | 182,080 | 28,324 |
* | Keysight Technologies Inc. | 170,430 | 23,494 |
Jabil Inc. | 368,122 | 18,852 | |
* | PayPal Holdings Inc. | 243,650 | 17,016 |
Mastercard Inc. Class A | 52,900 | 16,689 | |
* | Western Digital Corp. | 325,400 | 14,588 |
Teradyne Inc. | 145,540 | 13,033 | |
NVIDIA Corp. | 50,840 | 7,707 | |
* | BlackBerry Ltd. | 1,276,500 | 6,880 |
* | Ciena Corp. | 57,000 | 2,605 |
2,320,027 | |||
Materials (1.8%) | |||
Albemarle Corp. | 378,465 | 79,092 | |
Glencore plc | 8,026,481 | 43,475 | |
DuPont de Nemours Inc. | 341,300 | 18,969 | |
Corteva Inc. | 285,193 | 15,440 | |
Dow Inc. | 238,000 | 12,283 | |
Freeport-McMoRan Inc. | 377,200 | 11,037 | |
Linde plc | 8,300 | 2,386 | |
Greif Inc. Class B | 26,000 | 1,620 | |
184,302 | |||
Real Estate (0.1%) | |||
American Homes 4 Rent Class A | 222,000 | 7,868 | |
Total Common Stocks (Cost $4,927,428) | 9,794,649 | ||
Temporary Cash Investments (5.2%) | |||
Money Market Fund (5.2%) | |||
2 | Vanguard Market Liquidity Fund, 1.417% (Cost $539,655) | 5,398,006 | 539,639 |
Total Investments (100.1%) (Cost $5,467,083) | 10,334,288 | ||
Other Assets and Liabilities—Net (-0.1%) | (7,618) | ||
Net Assets (100%) | 10,326,670 | ||
Cost is in $000. |
* | Non-income-producing security. |
1 | 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 June 30, 2022, the aggregate value was $18,303,000, representing 0.2% of net assets. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
ADR—American Depositary Receipt. | |
GDR—Global Depositary Receipt. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 9,413,812 | 380,837 | — | 9,794,649 |
Temporary Cash Investments | 539,639 | — | — | 539,639 |
Total | 9,953,451 | 380,837 | — | 10,334,288 |