N-Q 1 index_final.htm index_final.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT COMPANY

 

Investment Company Act file number:   811-02652

 

Name of Registrant:   Vanguard Index Funds

 

Address of Registrant:

P.O. Box 2600
Valley Forge, PA 19482

 

Name and address of agent for service:

Anne E. Robinson, Esquire
P.O. Box 876
Valley Forge, PA 19482

 

Date of fiscal year end:     December 31, 2018

 

Date of reporting period:    March 31, 2018

 

Item 1: Schedule of Investments

 


Vanguard 500 Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.5%)1    
Consumer Discretionary (12.6%)    
* Amazon.com Inc. 7,121,741 10,307,581
  Home Depot Inc. 20,697,460 3,689,115
  Comcast Corp. Class A 82,153,521 2,807,186
  Walt Disney Co. 26,652,125 2,676,939
* Netflix Inc. 7,691,456 2,271,672
  McDonald's Corp. 14,129,793 2,209,617
* Booking Holdings Inc. 864,443 1,798,379
  NIKE Inc. Class B 23,003,609 1,528,360
  Starbucks Corp. 24,909,084 1,441,987
  Time Warner Inc. 13,822,159 1,307,300
  Lowe's Cos. Inc. 14,710,648 1,290,859
* Charter Communications Inc. Class A 3,297,403 1,026,218
  TJX Cos. Inc. 11,207,629 914,094
  General Motors Co. 22,381,504 813,344
  Ford Motor Co. 69,171,798 766,424
  Marriott International Inc. Class A 5,321,807 723,659
  Twenty-First Century Fox Inc. Class A 18,686,912 685,623
  Target Corp. 9,634,459 668,920
  Ross Stores Inc. 6,773,766 528,218
  Yum! Brands Inc. 5,894,932 501,836
  Carnival Corp. 7,196,444 471,943
  VF Corp. 5,835,397 432,520
  Dollar General Corp. 4,573,870 427,886
  Aptiv plc 4,713,362 400,494
* Dollar Tree Inc. 4,203,626 398,924
* O'Reilly Automotive Inc. 1,483,653 367,026
  Royal Caribbean Cruises Ltd. 3,029,957 356,747
  MGM Resorts International 9,038,522 316,529
  Best Buy Co. Inc. 4,506,205 315,389
  CBS Corp. Class B 6,121,305 314,574
* AutoZone Inc. 482,811 313,195
  Omnicom Group Inc. 4,082,905 296,705
  Twenty-First Century Fox Inc. 7,779,255 282,931
  Hilton Worldwide Holdings Inc. 3,585,959 282,430
  Lennar Corp. Class A 4,777,371 281,578
  DR Horton Inc. 6,066,093 265,937
  Tapestry Inc. 5,051,119 265,739
* Mohawk Industries Inc. 1,121,909 260,530
  Wynn Resorts Ltd. 1,423,587 259,605
  Expedia Group Inc. 2,167,332 239,295
  Genuine Parts Co. 2,602,211 233,783
  Newell Brands Inc. 8,596,349 219,035
* Ulta Beauty Inc. 1,027,663 209,921
* LKQ Corp. 5,491,480 208,402
  PVH Corp. 1,363,850 206,528
  Wyndham Worldwide Corp. 1,766,463 202,136
* CarMax Inc. 3,203,299 198,412
  Kohl's Corp. 2,975,925 194,953
  Viacom Inc. Class B 6,255,476 194,295

 

 

* Norwegian Cruise Line Holdings Ltd. 3,652,473 193,471
  Whirlpool Corp. 1,252,225 191,728
  Darden Restaurants Inc. 2,188,022 186,529
  Tiffany & Co. 1,806,116 176,385
  BorgWarner Inc. 3,509,535 176,284
  Hasbro Inc. 2,002,692 168,827
* Michael Kors Holdings Ltd. 2,696,788 167,417
  L Brands Inc. 4,350,154 166,219
  Macy's Inc. 5,399,927 160,594
  Interpublic Group of Cos. Inc. 6,810,664 156,850
  Advance Auto Parts Inc. 1,310,301 155,336
* DISH Network Corp. Class A 4,039,782 153,067
  News Corp. Class A 8,968,295 141,699
* Chipotle Mexican Grill Inc. Class A 435,341 140,663
  Tractor Supply Co. 2,217,496 139,747
  PulteGroup Inc. 4,666,841 137,625
^ Harley-Davidson Inc. 2,983,950 127,952
  Gap Inc. 3,865,141 120,592
^ Hanesbrands Inc. 6,378,607 117,494
  Garmin Ltd. 1,961,007 115,562
  Goodyear Tire & Rubber Co. 4,257,134 113,155
  Ralph Lauren Corp. Class A 983,107 109,911
* Discovery Communications Inc. 5,375,739 104,934
  Leggett & Platt Inc. 2,341,728 103,879
  Nordstrom Inc. 2,070,183 100,218
  Foot Locker Inc. 2,146,342 97,744
  H&R Block Inc. 3,700,317 94,025
^ Mattel Inc. 6,084,809 80,015
*,^ TripAdvisor Inc. 1,920,533 78,531
*,^ Discovery Communications Inc. Class A 2,637,978 56,532
*,^ Under Armour Inc. Class A 3,261,580 53,327
*,^ Under Armour Inc. 3,293,143 47,257
  Lennar Corp. Class B 76,977 3,671
      50,512,013
Consumer Staples (7.6%)    
  Procter & Gamble Co. 44,682,513 3,542,430
  Coca-Cola Co. 68,049,092 2,955,372
  PepsiCo Inc. 25,206,697 2,751,311
  Philip Morris International Inc. 27,528,750 2,736,358
  Walmart Inc. 25,727,985 2,289,019
  Altria Group Inc. 33,684,875 2,099,241
  Costco Wholesale Corp. 7,783,026 1,466,556
  CVS Health Corp. 17,982,148 1,118,669
  Colgate-Palmolive Co. 15,515,038 1,112,118
  Mondelez International Inc. Class A 26,364,672 1,100,198
  Walgreens Boots Alliance Inc. 15,101,124 988,671
  Constellation Brands Inc. Class A 3,037,903 692,399
  Kimberly-Clark Corp. 6,216,456 684,618
  Kraft Heinz Co. 10,587,473 659,494
  Estee Lauder Cos. Inc. Class A 3,980,083 595,898
  Sysco Corp. 8,511,998 510,379
  General Mills Inc. 10,087,619 454,548
  Archer-Daniels-Midland Co. 9,915,312 430,027
* Monster Beverage Corp. 7,330,748 419,392
  Tyson Foods Inc. Class A 5,272,776 385,915
  Dr Pepper Snapple Group Inc. 3,184,665 377,001
  Kroger Co. 15,615,901 373,845

 

 

Clorox Co. 2,294,632 305,438
Kellogg Co. 4,410,065 286,698
Conagra Brands Inc. 7,098,731 261,801
Brown-Forman Corp. Class B 4,634,283 252,105
JM Smucker Co. 2,012,170 249,529
Molson Coors Brewing Co. Class B 3,279,190 247,021
Hershey Co. 2,495,374 246,942
McCormick & Co. Inc. 2,145,218 228,230
Church & Dwight Co. Inc. 4,321,467 217,629
Hormel Foods Corp. 4,784,394 164,200
Coty Inc. Class A 8,375,346 153,269
Campbell Soup Co. 3,407,889 147,596
    30,503,917
Energy (5.7%)    
Exxon Mobil Corp. 75,101,525 5,603,325
Chevron Corp. 33,857,258 3,861,082
Schlumberger Ltd. 24,529,110 1,588,996
ConocoPhillips 20,818,134 1,234,307
EOG Resources Inc. 10,255,589 1,079,606
Occidental Petroleum Corp. 13,561,673 880,966
Halliburton Co. 15,465,576 725,954
Phillips 66 7,441,408 713,780
Valero Energy Corp. 7,677,473 712,239
Marathon Petroleum Corp. 8,408,180 614,722
Anadarko Petroleum Corp. 9,698,035 585,858
Pioneer Natural Resources Co. 3,019,068 518,616
Kinder Morgan Inc. 33,633,948 506,527
ONEOK Inc. 7,275,682 414,132
* Concho Resources Inc. 2,643,208 397,353
Williams Cos. Inc. 14,670,293 364,704
Devon Energy Corp. 9,330,001 296,601
Noble Energy Inc. 8,719,548 264,202
Apache Corp. 6,757,336 260,022
Andeavor 2,506,398 252,043
National Oilwell Varco Inc. 6,741,077 248,139
Marathon Oil Corp. 15,070,233 243,083
Hess Corp. 4,750,010 240,446
TechnipFMC plc 7,770,706 228,847
Baker Hughes a GE Co. 7,485,517 207,873
EQT Corp. 4,339,242 206,157
Cabot Oil & Gas Corp. 8,163,450 195,760
Cimarex Energy Co. 1,690,444 158,057
Helmerich & Payne Inc. 1,928,475 128,359
* Newfield Exploration Co. 3,537,310 86,381
Range Resources Corp. 4,002,506 58,196
    22,876,333
Financials (14.7%)    
JPMorgan Chase & Co. 60,827,246 6,689,172
* Berkshire Hathaway Inc. Class B 32,650,762 6,513,174
Bank of America Corp. 169,566,602 5,085,302
Wells Fargo & Co. 77,808,011 4,077,918
Citigroup Inc. 45,551,455 3,074,723
Goldman Sachs Group Inc. 6,262,895 1,577,373
US Bancorp 27,813,600 1,404,587
Morgan Stanley 24,454,217 1,319,550
PNC Financial Services Group Inc. 8,358,066 1,264,074

 

 

American Express Co. 12,769,176 1,191,109
BlackRock Inc. 2,193,348 1,188,180
Chubb Ltd. 8,225,913 1,125,058
Charles Schwab Corp. 21,240,126 1,109,159
CME Group Inc. 6,033,196 975,809
Bank of New York Mellon Corp. 17,897,625 922,265
American International Group Inc. 15,934,080 867,133
S&P Global Inc. 4,500,300 859,827
MetLife Inc. 18,373,975 843,182
Capital One Financial Corp. 8,619,123 825,884
Prudential Financial Inc. 7,479,623 774,515
Intercontinental Exchange Inc. 10,321,048 748,482
Marsh & McLennan Cos. Inc. 8,997,842 743,132
BB&T Corp. 13,777,660 716,989
Travelers Cos. Inc. 4,811,155 668,077
State Street Corp. 6,516,568 649,897
Progressive Corp. 10,320,974 628,857
Aon plc 4,363,654 612,352
Aflac Inc. 13,814,998 604,544
Allstate Corp. 6,282,959 595,625
SunTrust Banks Inc. 8,300,023 564,734
M&T Bank Corp. 2,660,990 490,580
Moody's Corp. 2,947,662 475,458
T. Rowe Price Group Inc. 4,336,093 468,168
Discover Financial Services 6,286,270 452,171
Synchrony Financial 12,670,327 424,836
Fifth Third Bancorp 12,301,149 390,562
Northern Trust Corp. 3,772,212 389,028
Ameriprise Financial Inc. 2,594,660 383,854
Regions Financial Corp. 19,904,855 369,832
KeyCorp 18,806,524 367,668
Citizens Financial Group Inc. 8,640,471 362,727
Willis Towers Watson plc 2,341,269 356,318
Hartford Financial Services Group Inc. 6,329,879 326,115
Huntington Bancshares Inc. 19,530,173 294,906
Comerica Inc. 3,064,608 293,988
Principal Financial Group Inc. 4,777,303 290,986
* Berkshire Hathaway Inc. Class A 972 290,725
Lincoln National Corp. 3,870,756 282,797
* E*TRADE Financial Corp. 4,718,508 261,453
XL Group Ltd. 4,551,522 251,517
Loews Corp. 4,777,851 237,603
Invesco Ltd. 7,214,565 230,938
Cboe Global Markets Inc. 1,996,699 227,823
* SVB Financial Group 937,528 225,016
Arthur J Gallagher & Co. 3,214,056 220,902
Raymond James Financial Inc. 2,299,006 205,554
Franklin Resources Inc. 5,767,100 200,003
Cincinnati Financial Corp. 2,643,647 196,317
Unum Group 3,919,813 186,622
Everest Re Group Ltd. 723,523 185,815
Zions Bancorporation 3,486,496 183,843
Affiliated Managers Group Inc. 965,359 183,013
Nasdaq Inc. 2,065,670 178,102
Torchmark Corp. 1,879,599 158,206
Leucadia National Corp. 5,557,175 126,315
People's United Financial Inc. 6,156,824 114,886

 

 

* Brighthouse Financial Inc. 1,697,788 87,266
Assurant Inc. 929,200 84,938
Navient Corp. 4,664,886 61,203
    58,738,737
Health Care (13.6%)    
Johnson & Johnson 47,552,247 6,093,820
Pfizer Inc. 105,509,437 3,744,530
UnitedHealth Group Inc. 17,151,022 3,670,319
AbbVie Inc. 28,253,964 2,674,238
Merck & Co. Inc. 47,788,046 2,603,015
Amgen Inc. 11,848,082 2,019,861
Medtronic plc 24,021,493 1,927,004
Abbott Laboratories 30,851,158 1,848,601
Bristol-Myers Squibb Co. 28,936,241 1,830,217
Gilead Sciences Inc. 23,218,357 1,750,432
Thermo Fisher Scientific Inc. 7,121,491 1,470,303
Eli Lilly & Co. 17,088,605 1,322,145
* Celgene Corp. 13,331,948 1,189,343
Danaher Corp. 10,880,878 1,065,347
* Biogen Inc. 3,749,875 1,026,791
Becton Dickinson and Co. 4,719,237 1,022,659
Anthem Inc. 4,532,576 995,807
Allergan plc 5,854,707 985,289
Aetna Inc. 5,795,048 979,363
Stryker Corp. 5,711,012 919,016
* Intuitive Surgical Inc. 1,990,001 821,532
* Vertex Pharmaceuticals Inc. 4,500,062 733,420
Cigna Corp. 4,304,997 722,120
Zoetis Inc. 8,636,854 721,264
* Express Scripts Holding Co. 10,002,903 691,001
* Boston Scientific Corp. 24,369,523 665,775
Humana Inc. 2,440,474 656,073
* Illumina Inc. 2,605,540 616,002
Baxter International Inc. 8,808,566 572,909
* Edwards Lifesciences Corp. 3,722,763 519,400
McKesson Corp. 3,658,074 515,313
HCA Healthcare Inc. 4,962,748 481,387
* Regeneron Pharmaceuticals Inc. 1,368,770 471,350
* Alexion Pharmaceuticals Inc. 3,929,984 438,036
Zimmer Biomet Holdings Inc. 3,601,574 392,716
Agilent Technologies Inc. 5,721,844 382,791
* Mylan NV 9,121,881 375,548
Cardinal Health Inc. 5,579,762 349,739
* Centene Corp. 3,073,701 328,486
* Cerner Corp. 5,602,733 324,958
* Align Technology Inc. 1,278,448 321,057
* Nektar Therapeutics Class A 2,853,636 303,227
* IDEXX Laboratories Inc. 1,543,721 295,453
* Laboratory Corp. of America Holdings 1,805,361 292,017
* Waters Corp. 1,395,738 277,263
* Mettler-Toledo International Inc. 451,281 259,500
* Incyte Corp. 3,112,354 259,352
* IQVIA Holdings Inc. 2,582,850 253,403
ResMed Inc. 2,532,045 249,330
AmerisourceBergen Corp. Class A 2,882,904 248,535
Quest Diagnostics Inc. 2,402,900 241,011
Dentsply Sirona Inc. 4,068,667 204,695

 

 

Cooper Cos. Inc. 868,484 198,718
* Varian Medical Systems Inc. 1,617,095 198,337
Perrigo Co. plc 2,321,784 193,497
* Hologic Inc. 4,898,681 183,015
* Henry Schein Inc. 2,722,944 183,009
Universal Health Services Inc. Class B 1,541,252 182,500
* DaVita Inc. 2,579,820 170,113
PerkinElmer Inc. 1,957,549 148,226
* Envision Healthcare Corp. 2,145,855 82,465
    54,662,643
Industrials (10.2%)    
Boeing Co. 9,804,531 3,214,710
3M Co. 10,554,635 2,316,953
General Electric Co. 153,892,479 2,074,471
Honeywell International Inc. 13,328,473 1,926,098
Union Pacific Corp. 13,952,083 1,875,578
United Technologies Corp. 13,182,972 1,658,682
Caterpillar Inc. 10,592,227 1,561,082
Lockheed Martin Corp. 4,403,450 1,488,058
United Parcel Service Inc. Class B 12,198,947 1,276,742
Raytheon Co. 5,113,391 1,103,572
General Dynamics Corp. 4,894,467 1,081,188
Northrop Grumman Corp. 3,085,339 1,077,154
FedEx Corp. 4,368,462 1,048,911
Deere & Co. 5,738,798 891,350
CSX Corp. 15,725,810 876,085
Illinois Tool Works Inc. 5,448,181 853,512
Emerson Electric Co. 11,251,861 768,502
Norfolk Southern Corp. 5,036,750 683,890
Delta Air Lines Inc. 11,529,780 631,947
Eaton Corp. plc 7,801,084 623,385
Waste Management Inc. 7,072,131 594,908
Johnson Controls International plc 16,415,577 578,485
Southwest Airlines Co. 9,585,764 549,073
Roper Technologies Inc. 1,822,604 511,587
Cummins Inc. 2,760,467 447,444
Fortive Corp. 5,428,557 420,822
Stanley Black & Decker Inc. 2,718,359 416,453
PACCAR Inc. 6,239,800 412,888
Parker-Hannifin Corp. 2,357,638 403,227
Rockwell Automation Inc. 2,265,440 394,640
Rockwell Collins Inc. 2,904,975 391,736
American Airlines Group Inc. 7,461,108 387,679
Ingersoll-Rand plc 4,429,854 378,797
Harris Corp. 2,103,587 339,266
AMETEK Inc. 4,099,441 311,435
* IHS Markit Ltd. 6,419,284 309,666
* United Continental Holdings Inc. 4,289,960 298,023
L3 Technologies Inc. 1,387,142 288,526
* Verisk Analytics Inc. Class A 2,748,556 285,850
Fastenal Co. 5,100,818 278,454
Textron Inc. 4,642,706 273,780
Dover Corp. 2,738,195 268,945
Republic Services Inc. Class A 3,994,124 264,531
TransDigm Group Inc. 860,906 264,246
Cintas Corp. 1,528,040 260,653
* United Rentals Inc. 1,498,828 258,893

 

 

WW Grainger Inc. 904,495 255,312
Equifax Inc. 2,129,736 250,904
Xylem Inc. 3,186,767 245,126
CH Robinson Worldwide Inc. 2,475,684 231,996
Masco Corp. 5,551,559 224,505
Huntington Ingalls Industries Inc. 805,180 207,543
Kansas City Southern 1,825,694 200,552
Pentair plc 2,937,621 200,140
Expeditors International of Washington Inc. 3,127,570 197,975
Nielsen Holdings plc 5,938,553 188,787
JB Hunt Transport Services Inc. 1,516,987 177,715
Arconic Inc. 7,526,184 173,403
AO Smith Corp. 2,580,005 164,062
Fortune Brands Home & Security Inc. 2,695,199 158,720
Snap-on Inc. 1,004,690 148,232
Allegion plc 1,685,638 143,768
Fluor Corp. 2,480,023 141,907
Alaska Air Group Inc. 2,180,225 135,087
Robert Half International Inc. 2,200,618 127,394
Jacobs Engineering Group Inc. 2,132,465 126,135
Acuity Brands Inc. 746,327 103,881
Flowserve Corp. 2,318,658 100,467
* Quanta Services Inc. 2,722,498 93,518
* Stericycle Inc. 1,515,021 88,674
    40,707,680
Information Technology (24.8%)    
Apple Inc. 89,932,823 15,088,929
Microsoft Corp. 136,472,041 12,455,803
* Facebook Inc. Class A 42,465,902 6,785,627
* Alphabet Inc. Class C 5,395,577 5,567,102
* Alphabet Inc. Class A 5,289,561 5,486,015
Intel Corp. 82,948,958 4,319,982
Visa Inc. Class A 31,949,583 3,821,809
Cisco Systems Inc. 85,387,099 3,662,253
Mastercard Inc. Class A 16,361,872 2,865,946
NVIDIA Corp. 10,723,063 2,483,354
Oracle Corp. 53,560,985 2,450,415
International Business Machines Corp. 15,184,168 2,329,707
* Adobe Systems Inc. 8,712,852 1,882,673
Texas Instruments Inc. 17,436,463 1,811,474
Broadcom Ltd. 7,275,516 1,714,475
Accenture plc Class A 10,929,814 1,677,726
* PayPal Holdings Inc. 19,995,409 1,517,052
QUALCOMM Inc. 26,238,132 1,453,855
* salesforce.com Inc. 12,162,467 1,414,495
* Micron Technology Inc. 20,494,708 1,068,594
Applied Materials Inc. 18,622,251 1,035,583
Activision Blizzard Inc. 13,446,332 907,090
Automatic Data Processing Inc. 7,856,236 891,526
Cognizant Technology Solutions Corp. Class A 10,421,567 838,936
Intuit Inc. 4,312,577 747,585
* eBay Inc. 16,683,751 671,354
* Electronic Arts Inc. 5,436,699 659,145
HP Inc. 29,023,939 636,205
TE Connectivity Ltd. 6,224,867 621,864
Analog Devices Inc. 6,554,626 597,323
Lam Research Corp. 2,888,134 586,753

 

 

  Fidelity National Information Services Inc. 5,870,720 565,350
* Fiserv Inc. 7,325,300 522,367
  DXC Technology Co. 5,057,121 508,392
* Autodesk Inc. 3,904,704 490,353
  Hewlett Packard Enterprise Co. 27,781,583 487,289
  Western Digital Corp. 5,274,221 486,652
* Red Hat Inc. 3,137,907 469,148
  Amphenol Corp. Class A 5,415,701 466,454
  Corning Inc. 15,406,833 429,543
  Microchip Technology Inc. 4,155,006 379,601
  Paychex Inc. 5,667,754 349,077
  Xilinx Inc. 4,518,255 326,399
  Skyworks Solutions Inc. 3,235,873 324,429
  Global Payments Inc. 2,821,793 314,686
  KLA-Tencor Corp. 2,774,994 302,502
  Motorola Solutions Inc. 2,872,637 302,489
  Seagate Technology plc 5,046,358 295,313
  NetApp Inc. 4,746,758 292,828
  Symantec Corp. 10,983,955 283,935
  Total System Services Inc. 2,929,853 252,729
* ANSYS Inc. 1,485,861 232,820
* Synopsys Inc. 2,635,263 219,359
* Akamai Technologies Inc. 3,012,023 213,793
* Citrix Systems Inc. 2,294,469 212,927
* Take-Two Interactive Software Inc. 2,028,512 198,348
* Gartner Inc. 1,609,155 189,269
  CA Inc. 5,539,387 187,785
* Cadence Design Systems Inc. 5,010,984 184,254
  Alliance Data Systems Corp. 854,766 181,946
*,^ VeriSign Inc. 1,479,750 175,439
* F5 Networks Inc. 1,095,412 158,408
* Qorvo Inc. 2,241,133 157,888
* IPG Photonics Corp. 670,407 156,460
  Western Union Co. 8,134,595 156,428
  Juniper Networks Inc. 6,091,121 148,197
*,^ Advanced Micro Devices Inc. 14,594,012 146,670
  FLIR Systems Inc. 2,460,745 123,062
  CSRA Inc. 2,907,243 119,866
  Xerox Corp. 3,789,095 109,050
* Conduent Inc. 4 —
      99,172,155
Materials (2.8%)    
  DowDuPont Inc. 41,473,846 2,642,299
  Monsanto Co. 7,813,385 911,744
  Praxair Inc. 5,089,309 734,387
  Ecolab Inc. 4,608,150 631,639
  Air Products & Chemicals Inc. 3,880,656 617,141
  LyondellBasell Industries NV Class A 5,734,468 606,019
  Sherwin-Williams Co. 1,466,097 574,886
  PPG Industries Inc. 4,510,885 503,415
* Freeport-McMoRan Inc. 23,872,911 419,447
  International Paper Co. 7,321,428 391,184
  Newmont Mining Corp. 9,459,058 369,565
  Nucor Corp. 5,633,063 344,124
  WestRock Co. 4,523,474 290,271
  Vulcan Materials Co. 2,348,958 268,181
  Eastman Chemical Co. 2,532,647 267,397

 

 

Ball Corp. 6,203,499 246,341
Martin Marietta Materials Inc. 1,112,600 230,642
International Flavors & Fragrances Inc. 1,400,153 191,695
Packaging Corp. of America 1,671,990 188,433
FMC Corp. 2,380,417 182,268
Albemarle Corp. 1,959,771 181,749
Avery Dennison Corp. 1,557,338 165,467
CF Industries Holdings Inc. 4,135,002 156,014
Mosaic Co. 6,209,794 150,774
Sealed Air Corp. 2,966,986 126,957
    11,392,039
Real Estate (2.8%)    
American Tower Corp. 7,813,640 1,135,634
Simon Property Group Inc. 5,515,116 851,258
Crown Castle International Corp. 7,349,667 805,597
Prologis Inc. 9,449,826 595,245
Equinix Inc. 1,404,259 587,177
Public Storage 2,655,592 532,154
Weyerhaeuser Co. 13,384,968 468,474
AvalonBay Communities Inc. 2,448,535 402,686
Equity Residential 6,528,459 402,284
Digital Realty Trust Inc. 3,642,785 383,877
Welltower Inc. 6,567,492 357,469
* SBA Communications Corp. Class A 2,064,515 352,867
Boston Properties Inc. 2,734,688 336,968
Ventas Inc. 6,316,170 312,840
Essex Property Trust Inc. 1,170,407 281,694
Realty Income Corp. 5,040,962 260,769
* CBRE Group Inc. Class A 5,353,583 252,796
Host Hotels & Resorts Inc. 13,007,745 242,464
GGP Inc. 11,190,245 228,952
Alexandria Real Estate Equities Inc. 1,793,880 224,038
Vornado Realty Trust 3,062,920 206,135
Extra Space Storage Inc. 2,233,096 195,083
HCP Inc. 8,319,508 193,262
Mid-America Apartment Communities Inc. 2,013,223 183,686
UDR Inc. 4,750,267 169,205
Duke Realty Corp. 6,329,098 167,595
Iron Mountain Inc. 4,988,816 163,932
Regency Centers Corp. 2,633,705 155,336
SL Green Realty Corp. 1,600,214 154,949
Federal Realty Investment Trust 1,296,442 150,530
Apartment Investment & Management Co. 2,786,341 113,543
Kimco Realty Corp. 7,542,045 108,605
Macerich Co. 1,921,178 107,624
    11,084,728
Telecommunication Services (1.9%)    
AT&T Inc. 108,825,992 3,879,646
Verizon Communications Inc. 73,164,245 3,498,714
CenturyLink Inc. 17,251,958 283,450
    7,661,810
Utilities (2.8%)    
NextEra Energy Inc. 8,336,657 1,361,626
Duke Energy Corp. 12,406,620 961,141
Southern Co. 17,868,498 798,007
Dominion Energy Inc. 11,547,270 778,632

 

 

  Exelon Corp.     17,102,671 667,175
  American Electric Power Co. Inc.     8,718,853 598,026
  Sempra Energy     4,525,031 503,274
  Public Service Enterprise Group Inc.     8,944,691 449,381
  Consolidated Edison Inc.     5,500,792 428,732
  Xcel Energy Inc.     9,007,895 409,679
  PG&E Corp.     9,129,831 401,074
  Edison International     5,777,271 367,781
  WEC Energy Group Inc.     5,590,579 350,529
  PPL Corp.     12,304,854 348,104
  DTE Energy Co.     3,177,999 331,783
  Eversource Energy     5,618,954 331,069
  FirstEnergy Corp.     7,919,767 269,351
  American Water Works Co. Inc.     3,165,643 259,994
  Entergy Corp.     3,205,442 252,525
  Ameren Corp.     4,299,641 243,489
  CMS Energy Corp.     5,004,413 226,650
  CenterPoint Energy Inc.     7,640,541 209,351
  Alliant Energy Corp.     4,102,069 167,611
  NRG Energy Inc.     5,345,326 163,193
  Pinnacle West Capital Corp.     1,983,295 158,267
  NiSource Inc.     5,987,206 143,154
  AES Corp.     11,720,344 133,260
  SCANA Corp.     2,530,943 95,037
          11,407,895
Total Common Stocks (Cost $254,343,984)       398,719,951
    Coupon      
Temporary Cash Investments (0.5%)1        
Money Market Fund (0.5%)        
2,3 Vanguard Market Liquidity Fund 1.775%   17,271,640 1,727,164
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)      
4 United States Treasury Bill 1.391%-1.461% 5/3/18 41,700 41,642
4 United States Treasury Bill 1.370% 5/17/18 15,400 15,369
4 United States Treasury Bill 1.578%-1.642% 6/7/18 15,500 15,453
4 United States Treasury Bill 1.633% 6/14/18 6,000 5,980
4 United States Treasury Bill 1.475%-1.761% 6/21/18 8,610 8,578
          87,022
Total Temporary Cash Investments (Cost $1,814,037)     1,814,186
Total Investments (100.0%) (Cost $256,158,021)       400,534,137
Other Assets and Liabilities-Net (0.0%)3       93,753
Net Assets (100%)       400,627,758

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $106,005,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 100.0% and 0.0%, respectively, 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.
3 Includes $108,534,000 of collateral received for securities on loan.
4 Securities with a value of $86,723,000 have been segregated as initial margin for open futures contracts.

 

Derivative Financial Instruments Outstanding as of Period End    
 
Futures Contracts      
      ($000)
      Value and
    Number of Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini S&P 500 Index June 2018 14,780 1,953,177 (102,669)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 398,719,951 — —
Temporary Cash Investments 1,727,164 87,022 —
Futures Contracts—Assets1 21,161 — —
Total 400,468,276 87,022 —

 

 

500 Index Fund

1 Represents variation margin on the last day of the reporting period.

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $256,158,021,000. Net unrealized appreciation of investment securities for tax purposes was $144,376,116,000, consisting of unrealized gains of $150,889,129,000 on securities that had risen in value since their purchase and $6,513,013,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Extended Market Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.0%)1    
Consumer Discretionary (13.8%)    
^,* Tesla Inc. 1,729,709 460,327
  Las Vegas Sands Corp. 4,714,706 338,987
* Liberty Global plc 8,386,663 255,206
  Autoliv Inc. 1,127,835 164,596
  Lear Corp. 867,806 161,490
* Liberty Broadband Corp. 1,864,868 159,801
* Liberty Interactive Corp. QVC Group Class A 5,826,095 146,643
  Domino's Pizza Inc. 567,253 132,488
  Aramark 3,184,972 125,997
* NVR Inc. 44,430 124,404
* Burlington Stores Inc. 885,322 117,881
^ Sirius XM Holdings Inc. 18,698,807 116,681
  Vail Resorts Inc. 524,323 116,242
* Lululemon Athletica Inc. 1,238,190 110,347
  Service Corp. International 2,411,604 91,014
* ServiceMaster Global Holdings Inc. 1,751,506 89,064
* Liberty Media Corp-Liberty SiriusXM C 2,170,830 88,678
  Polaris Industries Inc. 758,456 86,858
* Liberty Media Corp-Liberty Formula One 2,678,201 82,622
  Gentex Corp. 3,559,663 81,943
  Toll Brothers Inc. 1,857,982 80,358
  Pool Corp. 522,224 76,360
* Live Nation Entertainment Inc. 1,749,064 73,706
  Thor Industries Inc. 635,581 73,200
  Adient plc 1,211,305 72,388
* Liberty Global plc Class A 2,252,472 70,525
* Bright Horizons Family Solutions Inc. 687,048 68,512
* Skechers U.S.A. Inc. Class A 1,753,997 68,213
  Brunswick Corp. 1,135,924 67,463
* GCI Liberty Inc. - Class A 1,272,425 67,260
* Grand Canyon Education Inc. 626,221 65,703
  Dunkin' Brands Group Inc. 1,067,900 63,743
  Carter's Inc. 611,782 63,687
  Six Flags Entertainment Corp. 1,014,492 63,162
* Hilton Grand Vacations Inc. 1,286,145 55,330
  Delphi Technologies plc 1,149,347 54,766
  Williams-Sonoma Inc. 1,005,024 53,025
* Madison Square Garden Co. Class A 214,707 52,775
* Five Below Inc. 716,966 52,582
  Cinemark Holdings Inc. 1,375,244 51,805
  Cracker Barrel Old Country Store Inc. 310,451 49,424
  Extended Stay America Inc. 2,497,350 49,373
  Hyatt Hotels Corp. Class A 646,679 49,316
  Texas Roadhouse Inc. Class A 850,377 49,135
  Dana Inc. 1,872,715 48,241
* Liberty Media Corp-Liberty SiriusXM A 1,123,708 46,184
* Visteon Corp. 401,365 44,246
  American Eagle Outfitters Inc. 2,180,432 43,456
  ILG Inc. 1,370,374 42,632

 

 

* Planet Fitness Inc. Class A 1,113,301 42,049
Cable One Inc. 60,928 41,864
Wendy's Co. 2,331,986 40,926
Marriott Vacations Worldwide Corp. 306,738 40,858
New York Times Co. Class A 1,651,209 39,794
* Liberty Broadband Corp. Class A 464,230 39,367
Nexstar Media Group Inc. Class A 591,668 39,346
Bed Bath & Beyond Inc. 1,848,647 38,803
* Ollie's Bargain Outlet Holdings Inc. 641,625 38,690
* Urban Outfitters Inc. 1,040,813 38,468
Tribune Media Co. Class A 939,176 38,046
Choice Hotels International Inc. 470,883 37,741
John Wiley & Sons Inc. Class A 589,862 37,574
Dick's Sporting Goods Inc. 1,070,523 37,522
Aaron's Inc. 800,268 37,292
* Adtalem Global Education Inc. 782,330 37,200
* Deckers Outdoor Corp. 412,361 37,125
Tenneco Inc. 670,399 36,785
* Wayfair Inc. 542,725 36,650
Graham Holdings Co. Class B 60,052 36,166
Wolverine World Wide Inc. 1,247,594 36,055
* AutoNation Inc. 770,294 36,034
Churchill Downs Inc. 147,398 35,972
Lions Gate Entertainment Corp. Class B 1,477,462 35,577
* TopBuild Corp. 462,021 35,354
* Shutterfly Inc. 422,136 34,299
Boyd Gaming Corp. 1,066,587 33,981
LCI Industries 324,241 33,770
* Taylor Morrison Home Corp. Class A 1,436,999 33,453
* AMC Networks Inc. Class A 639,903 33,083
Jack in the Box Inc. 380,987 32,510
* TRI Pointe Group Inc. 1,951,807 32,068
Tupperware Brands Corp. 659,687 31,916
TEGNA Inc. 2,782,201 31,689
Lithia Motors Inc. Class A 312,475 31,410
Sinclair Broadcast Group Inc. Class A 988,849 30,951
KB Home 1,087,408 30,937
* Helen of Troy Ltd. 355,213 30,904
Children's Place Inc. 225,229 30,462
Steven Madden Ltd. 687,390 30,176
Signet Jewelers Ltd. 781,696 30,111
* Liberty Latin America Ltd. 1,570,181 29,975
* Murphy USA Inc. 409,074 29,781
Columbia Sportswear Co. 381,675 29,171
Bloomin' Brands Inc. 1,184,846 28,768
* Penn National Gaming Inc. 1,090,578 28,639
* Scientific Games Corp. 687,545 28,602
* Michaels Cos. Inc. 1,434,459 28,273
* Liberty Expedia Holdings Inc. Class A 707,250 27,781
Meredith Corp. 510,784 27,480
* Sally Beauty Holdings Inc. 1,652,952 27,191
* Tempur Sealy International Inc. 600,330 27,189
^ Cheesecake Factory Inc. 549,487 26,496
Red Rock Resorts Inc. Class A 892,556 26,134
* Dorman Products Inc. 387,927 25,685
* Eldorado Resorts Inc. 777,823 25,668
* Cooper-Standard Holdings Inc. 207,922 25,535

 

 

* Sotheby's 483,720 24,820
  Big Lots Inc. 542,314 23,607
^,* RH 245,565 23,397
^,* iRobot Corp. 362,963 23,299
* Weight Watchers International Inc. 359,950 22,936
  Monro Inc. 426,064 22,837
* Meritage Homes Corp. 495,877 22,438
* Groupon Inc. Class A 5,160,133 22,395
* Dave & Buster's Entertainment Inc. 528,840 22,074
* Chegg Inc. 1,060,958 21,919
* Floor & Decor Holdings Inc. Class A 419,602 21,870
  Brinker International Inc. 599,163 21,630
^ Dillard's Inc. Class A 266,897 21,443
  Abercrombie & Fitch Co. 880,995 21,329
* Pinnacle Entertainment Inc. 702,478 21,180
  Lions Gate Entertainment Corp. Class A 810,836 20,944
  DSW Inc. Class A 930,794 20,906
* Caesars Entertainment Corp. 1,829,033 20,577
  Penske Automotive Group Inc. 462,908 20,521
* G-III Apparel Group Ltd. 540,181 20,354
  Callaway Golf Co. 1,231,435 20,146
* La Quinta Holdings Inc. 1,045,355 19,768
* American Axle & Manufacturing Holdings Inc. 1,271,987 19,360
  Cooper Tire & Rubber Co. 659,940 19,336
* Cavco Industries Inc. 110,632 19,222
  La-Z-Boy Inc. 632,255 18,936
  Papa John's International Inc. 328,448 18,820
  Caleres Inc. 559,120 18,786
  World Wrestling Entertainment Inc. Class A 519,705 18,715
* MSG Networks Inc. 801,097 18,105
  Wingstop Inc. 378,183 17,862
* Sleep Number Corp. 500,088 17,578
  Entercom Communications Corp. Class A 1,777,862 17,156
* Fox Factory Holding Corp. 488,637 17,053
  Group 1 Automotive Inc. 255,356 16,685
  GameStop Corp. Class A 1,310,945 16,544
* Installed Building Products Inc. 272,826 16,383
  Oxford Industries Inc. 218,463 16,289
* Asbury Automotive Group Inc. 241,311 16,288
* LGI Homes Inc. 230,276 16,251
  MDC Holdings Inc. 581,506 16,236
* Gentherm Inc. 477,007 16,194
  Guess? Inc. 769,710 15,964
  Tailored Brands Inc. 636,422 15,949
* Altice USA Inc. Class A 833,133 15,396
  Dine Brands Global Inc. 233,795 15,332
  Chico's FAS Inc. 1,660,581 15,012
  Gannett Co. Inc. 1,460,752 14,578
* Crocs Inc. 894,803 14,541
  Office Depot Inc. 6,677,800 14,357
  Winnebago Industries Inc. 374,111 14,067
  International Speedway Corp. Class A 318,274 14,036
  Scholastic Corp. 360,167 13,989
  Strayer Education Inc. 138,078 13,953
* Modine Manufacturing Co. 655,809 13,870
* National Vision Holdings Inc. 426,296 13,774
  Sonic Corp. 527,710 13,314

 

 

  Capella Education Co. 151,994 13,277
* Denny's Corp. 852,414 13,153
^,* SeaWorld Entertainment Inc. 879,401 13,042
* Gray Television Inc. 1,016,234 12,906
  Camping World Holdings Inc. Class A 400,150 12,905
  Core-Mark Holding Co. Inc. 599,564 12,747
* Belmond Ltd. Class A 1,139,465 12,705
  Standard Motor Products Inc. 265,063 12,609
  New Media Investment Group Inc. 726,949 12,460
  Acushnet Holdings Corp. 530,989 12,261
^,* JC Penney Co. Inc. 4,044,060 12,213
* Vista Outdoor Inc. 744,645 12,153
^,* Conn's Inc. 354,051 12,038
^ Sturm Ruger & Co. Inc. 226,591 11,896
* M/I Homes Inc. 355,512 11,323
* Career Education Corp. 854,372 11,226
  PetMed Express Inc. 267,620 11,173
* Liberty Media Corp-Liberty Braves Class C 477,710 10,901
* Liberty Latin America Ltd. Class A 550,175 10,701
  Nutrisystem Inc. 391,631 10,554
* Genesco Inc. 257,943 10,472
  BJ's Restaurants Inc. 232,527 10,440
^,* Shake Shack Inc. Class A 243,360 10,131
* William Lyon Homes Class A 368,299 10,125
* Liberty TripAdvisor Holdings Inc. Class A 937,531 10,078
* American Public Education Inc. 230,704 9,920
^,* Overstock.com Inc. 273,244 9,905
* Red Robin Gourmet Burgers Inc. 168,859 9,794
* Universal Electronics Inc. 186,508 9,708
  AMC Entertainment Holdings Inc. Class A 690,091 9,696
* Stoneridge Inc. 348,711 9,624
  Ruth's Hospitality Group Inc. 380,524 9,304
* Houghton Mifflin Harcourt Co. 1,331,570 9,254
  BBX Capital Corp. Class A 984,068 9,063
* Century Communities Inc. 301,925 9,043
* Lumber Liquidators Holdings Inc. 370,442 8,861
* Malibu Boats Inc. Class A 266,466 8,849
  EW Scripps Co. Class A 716,697 8,593
  Buckle Inc. 369,116 8,176
* Unifi Inc. 223,477 8,101
^,* Roku Inc. 256,517 7,978
  Tower International Inc. 283,400 7,864
  Movado Group Inc. 202,572 7,779
* Liberty Media Corp-Liberty Formula One Class A 263,702 7,724
  Marcus Corp. 252,200 7,654
  Ethan Allen Interiors Inc. 330,978 7,596
* Regis Corp. 496,227 7,508
* Playa Hotels & Resorts NV 729,547 7,456
* Express Inc. 1,029,202 7,369
* American Outdoor Brands Corp. 704,766 7,273
  Finish Line Inc. Class A 529,290 7,167
^,* Fossil Group Inc. 562,313 7,141
* K12 Inc. 503,000 7,133
* Beazer Homes USA Inc. 439,483 7,010
* Loral Space & Communications Inc. 165,431 6,890
^,* GoPro Inc. Class A 1,413,588 6,771
* Fiesta Restaurant Group Inc. 353,017 6,531

 

 

* Laureate Education Inc. Class A 462,862 6,364
  Citi Trends Inc. 205,508 6,352
* Monarch Casino & Resort Inc. 149,339 6,316
* Biglari Holdings Inc. 15,437 6,305
  Emerald Expositions Events Inc. 309,215 6,024
^ Rent-A-Center Inc. 693,669 5,986
* Hibbett Sports Inc. 248,612 5,954
  Sonic Automotive Inc. Class A 313,624 5,943
* Chuy's Holdings Inc. 221,321 5,799
* Zumiez Inc. 237,554 5,678
  Hooker Furniture Corp. 153,760 5,643
* MarineMax Inc. 286,170 5,566
  Carriage Services Inc. Class A 200,818 5,555
* MCBC Holdings Inc. 220,371 5,553
* Nautilus Inc. 404,169 5,436
* Motorcar Parts of America Inc. 248,962 5,335
^,* Lands' End Inc. 225,060 5,255
* 1-800-Flowers.com Inc. Class A 443,837 5,237
* Carrols Restaurant Group Inc. 464,696 5,205
  Haverty Furniture Cos. Inc. 254,679 5,132
^,* Party City Holdco Inc. 327,784 5,113
* America's Car-Mart Inc. 101,212 5,106
* tronc Inc. 304,387 4,998
* Del Taco Restaurants Inc. 477,555 4,947
^,* Carvana Co. 209,301 4,799
  Johnson Outdoors Inc. Class A 74,554 4,622
* Central European Media Enterprises Ltd. Class A 1,091,778 4,585
* Golden Entertainment Inc. 196,032 4,554
  Cato Corp. Class A 307,378 4,531
^,* Ascena Retail Group Inc. 2,219,044 4,460
* ZAGG Inc. 364,559 4,448
* Boot Barn Holdings Inc. 245,500 4,353
  Superior Industries International Inc. 321,748 4,279
* Perry Ellis International Inc. 164,193 4,236
* Del Frisco's Restaurant Group Inc. 277,519 4,232
  Culp Inc. 137,100 4,188
  National CineMedia Inc. 790,323 4,102
  Bassett Furniture Industries Inc. 133,165 4,042
  Entravision Communications Corp. Class A 859,246 4,038
  PICO Holdings Inc. 323,892 3,709
  Flexsteel Industries Inc. 93,608 3,705
* Potbelly Corp. 307,210 3,702
^,* Zoe's Kitchen Inc. 254,355 3,673
  Barnes & Noble Inc. 741,982 3,673
* Drive Shack Inc. 761,956 3,642
  RCI Hospitality Holdings Inc. 127,218 3,612
  Winmark Corp. 27,233 3,562
  Shoe Carnival Inc. 146,388 3,484
* Hovnanian Enterprises Inc. Class A 1,896,603 3,471
^,* GNC Holdings Inc. Class A 897,845 3,466
* Reading International Inc. Class A 206,647 3,441
* Barnes & Noble Education Inc. 490,034 3,376
  Speedway Motorsports Inc. 188,491 3,359
* Lindblad Expeditions Holdings Inc. 317,003 3,256
* Bojangles' Inc. 230,902 3,198
  Pier 1 Imports Inc. 987,025 3,178
* At Home Group Inc. 98,150 3,145

 

 

* Daily Journal Corp. 13,381 3,057
  Nathan's Famous Inc. 38,865 2,872
* El Pollo Loco Holdings Inc. 288,762 2,743
* PlayAGS Inc. 117,811 2,740
  Tile Shop Holdings Inc. 456,646 2,740
^,* Tuesday Morning Corp. 679,825 2,685
* Century Casinos Inc. 350,367 2,614
* Vera Bradley Inc. 245,147 2,601
  Clear Channel Outdoor Holdings Inc. Class A 524,325 2,569
  Superior Uniform Group Inc. 94,374 2,479
* Red Lion Hotels Corp. 253,219 2,469
* Horizon Global Corp. 294,839 2,429
* Bridgepoint Education Inc. Class A 356,179 2,401
* AV Homes Inc. 129,192 2,397
* Stitch Fix Inc. Class A 117,794 2,389
* Green Brick Partners Inc. 219,014 2,387
^,* Duluth Holdings Inc. 127,321 2,385
* Habit Restaurants Inc. Class A 268,743 2,365
  Weyco Group Inc. 70,311 2,362
* Francesca's Holdings Corp. 475,883 2,284
  Saga Communications Inc. Class A 60,105 2,239
* Town Sports International Holdings Inc. 293,583 2,231
* Liberty Media Corp-Liberty Braves Class A 97,261 2,211
^ Big 5 Sporting Goods Corp. 302,885 2,196
* Clarus Corp. 321,637 2,171
* Gaia Inc. Class A 139,757 2,166
* Fogo De Chao Inc. 137,516 2,166
  CSS Industries Inc. 123,550 2,162
  Rocky Brands Inc. 99,344 2,131
* New Home Co. Inc. 186,263 2,064
* Hemisphere Media Group Inc. Class A 183,359 2,063
* Kirkland's Inc. 211,647 2,051
  Marine Products Corp. 145,900 2,044
^,* Sportsman's Warehouse Holdings Inc. 479,654 1,957
  Tilly's Inc. Class A 171,327 1,936
* J Alexander's Holdings Inc. 168,187 1,926
* Skyline Corp. 87,303 1,921
* Cambium Learning Group Inc. 171,471 1,920
  Lifetime Brands Inc. 153,773 1,907
^,* WideOpenWest Inc. 257,310 1,840
  Collectors Universe Inc. 115,657 1,817
* Shiloh Industries Inc. 207,670 1,807
  Escalade Inc. 128,577 1,762
^,* Vitamin Shoppe Inc. 398,004 1,731
^,* Noodles & Co. Class A 222,504 1,680
* VOXX International Corp. Class A 336,542 1,666
* Build-A-Bear Workshop Inc. 181,481 1,661
^,* Jamba Inc. 189,822 1,627
^,* Vuzix Corp. 293,508 1,614
  Hamilton Beach Brands Holding Co. Class A 74,159 1,574
  Libbey Inc. 319,013 1,560
  Strattec Security Corp. 40,756 1,481
^ Fred's Inc. Class A 472,243 1,412
* Delta Apparel Inc. 77,996 1,405
^,* Chicken Soup For The Soul Entertainment Inc. 179,894 1,281
  Bluegreen Vacations Corp. 60,436 1,279
* Lee Enterprises Inc. 639,469 1,247

 

 

  Beasley Broadcast Group Inc. Class A 106,810 1,207
^,* Global Eagle Entertainment Inc. 813,744 1,196
* Lakeland Industries Inc. 91,906 1,190
* Container Store Group Inc. 218,259 1,187
^,* Cogint Inc. 470,951 1,177
^,* Funko Inc. Class A 140,109 1,150
^,* Boston Omaha Corp. Class A 49,602 1,084
  AH Belo Corp. Class A 209,330 1,078
^,* Inspired Entertainment Inc. 193,612 1,065
  Townsquare Media Inc. Class A 129,137 1,024
^,* Sequential Brands Group Inc. 466,107 972
* Ballantyne Strong Inc. 208,983 930
  Ark Restaurants Corp. 38,576 926
  Liberty Tax Inc. 90,766 917
* Destination XL Group Inc. 512,322 897
^,* Workhorse Group Inc. 334,344 883
* Full House Resorts Inc. 273,502 878
^,* Iconix Brand Group Inc. 751,517 834
^,* Sears Holdings Corp. 312,327 834
* FTD Cos. Inc. 222,181 809
^,* Blue Apron Holdings Inc. Class A 370,535 741
* J. Jill Inc. 156,276 691
^,* Famous Dave's of America Inc. 95,583 679
^ Stage Stores Inc. 303,930 663
^,* Empire Resorts Inc. 37,618 649
* Universal Technical Institute Inc. 216,907 638
* Ascent Capital Group Inc. Class A 168,015 618
* Educational Development Corp. 24,088 602
* Tandy Leather Factory Inc. 82,294 580
* EVINE Live Inc. 537,896 549
* Aspen Group Inc. 70,927 501
^,* Stein Mart Inc. 321,386 489
* Urban One Inc. 236,694 485
  Crown Crafts Inc. 80,356 470
* Dixie Group Inc. 168,576 464
^,* Nova Lifestyle Inc. 210,360 454
* Christopher & Banks Corp. 414,199 443
^,* UQM Technologies Inc. 337,685 436
  Salem Media Group Inc. Class A 108,303 390
  Dover Motorsports Inc. 181,111 380
* Luby's Inc. 135,509 377
  Peak Resorts Inc. 70,701 343
* US Auto Parts Network Inc. 159,087 326
* Trans World Entertainment Corp. 247,358 309
* Emerson Radio Corp. 206,739 302
* Good Times Restaurants Inc. 95,830 292
  Gaming Partners International Corp. 27,699 273
^,* Social Reality Inc. 70,955 272
  Harte-Hanks Inc. 29,314 270
* JAKKS Pacific Inc. 128,124 269
* Dover Downs Gaming & Entertainment Inc. 195,428 260
* Bravo Brio Restaurant Group Inc. 64,107 256
* Destination Maternity Corp. 98,382 255
  Unique Fabricating Inc. 29,839 252
^,* Forward Industries Inc. 153,576 220
* New York & Co. Inc. 62,991 213
* ONE Group Hospitality Inc. 75,257 207

 

 

* Charles & Colvard Ltd. 150,610 205
* Lincoln Educational Services Corp. 103,004 199
* Insignia Systems Inc. 125,777 199
^,* Sears Hometown and Outlet Stores Inc. 65,252 196
  AMCON Distributing Co. 2,126 191
* Papa Murphy's Holdings Inc. 38,344 186
^,* Vince Holding Corp. 19,923 178
* Emmis Communications Corp. Class A 38,281 176
^,* Naked Brand Group Inc. 112,574 165
^,* Kona Grill Inc. 86,359 164
* Cinedigm Corp. Class A 112,137 154
  Flanigan's Enterprises Inc. 6,352 152
* Sypris Solutions Inc. 85,553 139
^,* Rave Restaurant Group Inc. 103,389 127
* RLJ Entertainment Inc. 27,854 124
^,* Live Ventures Inc. 9,510 116
^,* SPAR Group Inc. 80,427 111
* NTN Buzztime Inc. 16,227 110
* McClatchy Co. Class A 11,121 103
* Summer Infant Inc. 85,244 98
* Diversified Restaurant Holdings Inc. 72,507 98
* Nevada Gold & Casinos Inc. 38,594 85
^,* Turtle Beach Corp. 134,564 81
^,* Chanticleer Holdings Inc. 19,975 74
^,* Arcimoto Inc. 19,030 62
^,* CDTi Advanced Materials Inc. 62,847 61
* Cherokee Inc. 30,034 39
* XpresSpa Group Inc. 52,102 38
* Differential Brands Group Inc. 26,634 33
* YogaWorks Inc. 11,000 31
* CafePress Inc. 21,383 28
* Genius Brands International Inc. 6,859 19
* Xcel Brands Inc. 5,463 17
^,* Alliance MMA Inc. 29,830 14
* Koss Corp. 4,492 8
  FAT Brands Inc. 1,200 8
* CTI Industries Corp. 1,768 7
  P&F Industries Inc. Class A 574 4
^,* Comstock Holding Cos. Inc. Class A 2,809 4
  Canterbury Park Holding Corp. 209 3
* DGSE Cos. Inc. 1,900 2
* Level Brands Inc. 200 1
*,2 Here Media Inc. 12,670 —
      8,701,193
Consumer Staples (2.9%)    
  Bunge Ltd. 1,823,430 134,824
  Ingredion Inc. 932,232 120,183
  Lamb Weston Holdings Inc. 1,897,048 110,446
  Pinnacle Foods Inc. 1,534,634 83,024
* Herbalife Ltd. 802,942 78,263
* Post Holdings Inc. 851,694 64,524
* US Foods Holding Corp. 1,852,533 60,708
  Casey's General Stores Inc. 487,286 53,489
  Flowers Foods Inc. 2,405,308 52,580
* Blue Buffalo Pet Products Inc. 1,216,413 48,425
  Nu Skin Enterprises Inc. Class A 644,091 47,476
  Energizer Holdings Inc. 784,120 46,718

 

 

* Hain Celestial Group Inc. 1,349,424 43,276
* Sprouts Farmers Market Inc. 1,606,045 37,694
* Darling Ingredients Inc. 2,139,159 37,008
* Edgewell Personal Care Co. 716,189 34,964
* Performance Food Group Co. 1,093,985 32,656
* HRG Group Inc. 1,956,407 32,261
^ Spectrum Brands Holdings Inc. 306,218 31,755
  Sanderson Farms Inc. 260,783 31,038
  Lancaster Colony Corp. 249,709 30,749
  Vector Group Ltd. 1,407,559 28,700
* United Natural Foods Inc. 654,318 28,096
* TreeHouse Foods Inc. 733,719 28,080
  J&J Snack Foods Corp. 194,700 26,588
  PriceSmart Inc. 301,105 25,157
  WD-40 Co. 184,417 24,288
^,* Rite Aid Corp. 13,871,345 23,304
* Boston Beer Co. Inc. Class A 113,983 21,549
^ B&G Foods Inc. 863,711 20,470
* Central Garden & Pet Co. Class A 514,157 20,366
  Fresh Del Monte Produce Inc. 437,706 19,802
^ Calavo Growers Inc. 205,534 18,950
* Cal-Maine Foods Inc. 387,321 16,926
* Pilgrim's Pride Corp. 680,367 16,744
* Avon Products Inc. 5,718,989 16,242
  Universal Corp. 326,117 15,817
  Seaboard Corp. 3,648 15,559
* Hostess Brands Inc. Class A 1,040,281 15,386
  MGP Ingredients Inc. 163,155 14,617
  National Beverage Corp. 151,401 13,478
  Medifast Inc. 136,699 12,775
* USANA Health Sciences Inc. 146,873 12,616
  Andersons Inc. 342,425 11,334
  Inter Parfums Inc. 223,550 10,540
  Coca-Cola Bottling Co. Consolidated 60,561 10,457
  Dean Foods Co. 1,179,280 10,165
* Simply Good Foods Co. 666,325 9,149
  Weis Markets Inc. 213,257 8,739
  SpartanNash Co. 469,214 8,075
  SUPERVALU Inc. 498,684 7,595
^ Tootsie Roll Industries Inc. 256,230 7,546
  Ingles Markets Inc. Class A 205,629 6,961
  John B Sanfilippo & Son Inc. 115,919 6,708
* Chefs' Warehouse Inc. 270,999 6,233
^,* elf Beauty Inc. 289,042 5,599
* Freshpet Inc. 319,261 5,252
* Landec Corp. 359,365 4,690
* Farmer Brothers Co. 139,627 4,217
* Primo Water Corp. 339,790 3,979
  Limoneira Co. 152,853 3,627
* Central Garden & Pet Co. 77,798 3,345
^,* 22nd Century Group Inc. 1,358,241 3,192
* Seneca Foods Corp. Class A 101,537 2,813
  Village Super Market Inc. Class A 105,130 2,772
* Alliance One International Inc. 105,796 2,756
^,* Revlon Inc. Class A 131,152 2,702
  Oil-Dri Corp. of America 65,419 2,629
* Craft Brew Alliance Inc. 128,714 2,394

 

 

  Turning Point Brands Inc. 114,831 2,232
* Smart & Final Stores Inc. 395,211 2,193
^ Natural Health Trends Corp. 84,542 1,607
^,* Castle Brands Inc. 1,107,894 1,374
  Rocky Mountain Chocolate Factory Inc. 96,131 1,157
  Alico Inc. 41,364 1,125
  United-Guardian Inc. 57,149 1,006
* Nature's Sunshine Products Inc. 91,053 1,002
^,* Orchids Paper Products Co. 116,625 951
* Natural Alternatives International Inc. 73,591 810
* Natural Grocers by Vitamin Cottage Inc. 104,931 751
^,* Celsius Holdings Inc. 157,761 686
^,* New Age Beverages Corp. 260,841 631
* Veru Inc. 322,939 585
* Lifeway Foods Inc. 87,868 526
^,* S&W Seed Co. 140,658 506
* Lifevantage Corp. 125,479 453
* Reed's Inc. 120,687 205
  Mannatech Inc. 12,306 193
^,* Arcadia Biosciences Inc. 7,454 179
^,* Ifresh Inc. 20,255 166
^,* Long Blockchain Corp. 62,422 166
* Coffee Holding Co. Inc. 34,760 151
^,* RiceBran Technologies 63,700 99
  Ocean Bio-Chem Inc. 19,130 76
* Bridgford Foods Corp. 2,984 44
* Youngevity International Inc. 7,998 33
* CCA Industries Inc. 9,900 29
^,* MYOS RENS Technology Inc. 21,975 28
* Reliv International Inc. 4,459 21
^,* TDH Holdings Inc. 4,820 20
* Eastside Distilling Inc. 1,953 14
* Cyanotech Corp. 2,200 11
* Truett-Hurst Inc. 4,464 8
* Willamette Valley Vineyards Inc. 533 4
      1,820,082
Energy (4.2%)    
* Diamondback Energy Inc. 1,273,143 161,078
* Cheniere Energy Inc. 2,626,314 140,376
  Targa Resources Corp. 2,799,713 123,187
  HollyFrontier Corp. 2,300,035 112,380
* Parsley Energy Inc. Class A 3,070,697 89,020
* Energen Corp. 1,260,949 79,263
* WPX Energy Inc. 5,165,377 76,344
* RSP Permian Inc. 1,625,199 76,189
* Continental Resources Inc. 1,119,040 65,967
  Core Laboratories NV 572,219 61,926
^,* Transocean Ltd. 5,636,631 55,803
* Antero Resources Corp. 2,792,692 55,435
  Murphy Oil Corp. 2,105,577 54,408
  Patterson-UTI Energy Inc. 2,884,049 50,500
  Peabody Energy Corp. 1,364,347 49,799
  PBF Energy Inc. Class A 1,431,294 48,521
* PDC Energy Inc. 854,745 41,908
* CNX Resources Corp. 2,667,677 41,162
* Centennial Resource Development Inc. Class A 2,240,865 41,120
  Delek US Holdings Inc. 991,827 40,367

 

 

* Whiting Petroleum Corp. 1,177,612 39,850
* Matador Resources Co. 1,260,976 37,716
^,* Chesapeake Energy Corp. 11,754,507 35,499
* Callon Petroleum Co. 2,620,267 34,692
* QEP Resources Inc. 3,125,609 30,600
* SRC Energy Inc. 3,136,844 29,580
^,* Weatherford International plc 12,875,353 29,485
* Southwestern Energy Co. 6,629,145 28,704
  Nabors Industries Ltd. 4,095,886 28,630
* Oasis Petroleum Inc. 3,436,759 27,838
  US Silica Holdings Inc. 1,045,084 26,671
  Arch Coal Inc. Class A 272,383 25,027
  Ensco plc Class A 5,648,721 24,798
  SM Energy Co. 1,332,586 24,027
  Oceaneering International Inc. 1,279,318 23,719
* McDermott International Inc. 3,687,350 22,456
* Dril-Quip Inc. 495,061 22,179
  World Fuel Services Corp. 878,434 21,566
* C&J Energy Services Inc. 827,648 21,370
* Gulfport Energy Corp. 2,138,208 20,634
* Oil States International Inc. 779,831 20,432
* Kosmos Energy Ltd. 2,999,801 18,899
* Extraction Oil & Gas Inc. 1,605,001 18,393
  SemGroup Corp. Class A 858,073 18,363
* Rowan Cos. plc Class A 1,468,407 16,945
* Superior Energy Services Inc. 2,003,384 16,889
* Carrizo Oil & Gas Inc. 1,000,803 16,013
* Laredo Petroleum Inc. 1,731,041 15,077
* Denbury Resources Inc. 5,215,432 14,290
^ RPC Inc. 787,353 14,196
* Unit Corp. 689,042 13,615
^,* Diamond Offshore Drilling Inc. 838,262 12,289
* ProPetro Holding Corp. 756,096 12,014
* Noble Corp. plc 3,180,996 11,801
* SEACOR Holdings Inc. 218,537 11,167
* Exterran Corp. 414,260 11,061
* Ultra Petroleum Corp. 2,558,043 10,667
* Alta Mesa Resources Inc. 1,317,838 10,543
* Helix Energy Solutions Group Inc. 1,810,380 10,482
* Forum Energy Technologies Inc. 940,978 10,351
* Ring Energy Inc. 708,468 10,167
* Keane Group Inc. 683,880 10,121
* Halcon Resources Corp. 2,041,893 9,944
* Stone Energy Corp. 259,810 9,639
* CONSOL Energy Inc. 327,822 9,497
* Newpark Resources Inc. 1,161,932 9,412
^,* Resolute Energy Corp. 256,595 8,891
^,* California Resources Corp. 509,394 8,736
* Cactus Inc. 316,536 8,524
^,* Fairmount Santrol Holdings Inc. 1,987,097 8,445
  Green Plains Inc. 500,887 8,415
* Tidewater Inc. 284,640 8,144
  Archrock Inc. 922,910 8,075
* Bonanza Creek Energy Inc. 264,936 7,341
* SandRidge Energy Inc. 472,189 6,851
* International Seaways Inc. 379,732 6,683
* HighPoint Resources Corp. 1,277,037 6,487

 

 

* Penn Virginia Corp. 176,360 6,180
  CVR Energy Inc. 203,090 6,137
* TETRA Technologies Inc. 1,633,916 6,127
* Gener8 Maritime Inc. 1,081,502 6,110
^,* Jagged Peak Energy Inc. 417,042 5,893
^,* Tellurian Inc. 814,259 5,871
* Renewable Energy Group Inc. 457,362 5,854
* Par Pacific Holdings Inc. 328,778 5,645
* REX American Resources Corp. 77,443 5,638
  Bristow Group Inc. 430,879 5,601
* W&T Offshore Inc. 1,206,470 5,345
^,* WildHorse Resource Development Corp. 277,000 5,288
* Matrix Service Co. 349,916 4,794
* Midstates Petroleum Co. Inc. 344,798 4,596
* Abraxas Petroleum Corp. 2,030,555 4,508
* FTS International Inc. 241,733 4,445
^ Frank's International NV 813,955 4,420
* Basic Energy Services Inc. 302,440 4,367
* Mammoth Energy Services Inc. 132,883 4,260
  Panhandle Oil and Gas Inc. Class A 220,509 4,256
* SEACOR Marine Holdings Inc. 212,055 4,033
* Solaris Oilfield Infrastructure Inc. Class A 239,000 3,958
* Natural Gas Services Group Inc. 160,693 3,833
* Select Energy Services Inc. Class A 280,412 3,539
* ION Geophysical Corp. 129,726 3,516
* Pioneer Energy Services Corp. 1,232,311 3,327
^,* Zion Oil & Gas Inc. 698,583 3,325
  Evolution Petroleum Corp. 396,941 3,195
^,* Sanchez Energy Corp. 974,168 3,049
* Dorian LPG Ltd. 403,258 3,020
* Earthstone Energy Inc. Class A 291,956 2,955
* Cloud Peak Energy Inc. 979,130 2,849
* Clean Energy Fuels Corp. 1,673,319 2,761
^,* Uranium Energy Corp. 1,956,528 2,563
* RigNet Inc. 169,257 2,302
* SilverBow Resources Inc. 76,094 2,214
* Era Group Inc. 233,880 2,187
^,* CARBO Ceramics Inc. 297,918 2,160
* Nine Energy Service Inc. 86,853 2,115
* Geospace Technologies Corp. 201,759 1,991
* Pacific Ethanol Inc. 655,015 1,965
^,* Lilis Energy Inc. 491,712 1,952
^,* Amyris Inc. 289,497 1,937
  Hallador Energy Co. 269,977 1,855
* Eclipse Resources Corp. 1,277,693 1,840
* NCS Multistage Holdings Inc. 120,666 1,810
  NACCO Industries Inc. Class A 53,134 1,745
* Smart Sand Inc. 291,335 1,696
^,* Liberty Oilfield Services Inc. Class A 100,358 1,695
^,* Gastar Exploration Inc. 2,453,240 1,675
* Energy XXI Gulf Coast Inc. 433,879 1,666
^,* Approach Resources Inc. 626,805 1,636
* Overseas Shipholding Group Inc. Class A 550,149 1,562
  Gulf Island Fabrication Inc. 219,843 1,561
* Dawson Geophysical Co. 207,615 1,399
* Hornbeck Offshore Services Inc. 473,450 1,378
* Key Energy Services Inc. 109,388 1,282

 

 

* Comstock Resources Inc. 174,543 1,276
^,* Northern Oil and Gas Inc. 592,416 1,173
  Adams Resources & Energy Inc. 26,556 1,155
* Independence Contract Drilling Inc. 300,184 1,135
* Contango Oil & Gas Co. 313,677 1,114
* Parker Drilling Co. 1,740,789 1,105
^,* NextDecade Corp. 223,543 1,104
* Aspen Aerogels Inc. 229,377 979
* PHI Inc. NV 94,013 963
^,* Jones Energy Inc. Class A 1,111,311 889
* Isramco Inc. 7,853 815
^,* EP Energy Corp. Class A 542,194 727
^,* Erin Energy Corp. 193,830 707
* VAALCO Energy Inc. 730,357 629
^,* Torchlight Energy Resources Inc. 465,397 605
* Lonestar Resources US Inc. Class A 128,983 560
* Profire Energy Inc. 197,044 538
* Mitcham Industries Inc. 137,162 444
* Willbros Group Inc. 790,257 437
* Quintana Energy Services Inc. 40,526 395
* TransAtlantic Petroleum Ltd. 269,979 348
* Centrus Energy Corp. Class A 94,105 334
* Synthesis Energy Systems Inc. 116,247 312
* PHI Inc. 30,208 308
* Ranger Energy Services Inc. 36,411 296
* Goodrich Petroleum Corp. 21,553 236
* PrimeEnergy Corp. 3,877 200
^,* Aemetis Inc. 109,876 187
* PetroQuest Energy Inc. 232,351 135
* Enservco Corp. 139,836 127
^,* Gevo Inc. 262,133 121
* Eco-Stim Energy Solutions Inc. 126,317 120
* Vertex Energy Inc. 103,223 116
* Westmoreland Coal Co. 249,561 102
^,* SAExploration Holdings Inc. 72,265 98
^,* Westwater Resources Inc. 146,335 84
* Barnwell Industries Inc. 44,204 83
^,* Rex Energy Corp. 53,772 49
* Superior Drilling Products Inc. 24,900 41
* ENGlobal Corp. 44,362 37
^,* US Energy Corp. Wyoming 28,339 34
^,* New Concept Energy Inc. 23,644 32
^,* Tengasco Inc. 44,728 32
^,* Houston American Energy Corp. 92,152 29
^,* Yuma Energy Inc. 16,457 18
^,* Bonanza Creek Energy Inc. Warrants Exp. 04/28/2020 19,019 3
^ AgEagle Aerial Systems Inc. 266 1
^,2 Harvest Natural Resources Inc. 133,886 —
      2,661,767
Financials (16.9%)    
* Markel Corp. 181,462 212,356
  TD Ameritrade Holding Corp. 3,532,955 209,257
  First Republic Bank 2,046,974 189,570
  MSCI Inc. Class A 1,167,264 174,471
  Annaly Capital Management Inc. 15,035,513 156,820
  Ally Financial Inc. 5,643,534 153,222
* Arch Capital Group Ltd. 1,765,210 151,084

 

 

  FNF Group 3,540,768 141,702
  Reinsurance Group of America Inc. Class A 834,763 128,554
  SEI Investments Co. 1,695,953 127,044
  Alleghany Corp. 199,687 122,696
  Voya Financial Inc. 2,321,986 117,260
  East West Bancorp Inc. 1,868,098 116,831
  MarketAxess Holdings Inc. 487,786 106,064
  FactSet Research Systems Inc. 506,872 101,080
  American Financial Group Inc. 888,115 99,664
* Signature Bank 696,778 98,908
  AGNC Investment Corp. 5,065,159 95,833
  WR Berkley Corp. 1,245,137 90,521
  Lazard Ltd. Class A 1,684,518 88,538
  CIT Group Inc. 1,704,653 87,790
  Eaton Vance Corp. 1,554,491 86,539
  First American Financial Corp. 1,436,100 84,270
  New York Community Bancorp Inc. 6,301,747 82,112
  PacWest Bancorp 1,643,475 81,401
  First Horizon National Corp. 4,214,494 79,359
  Cullen/Frost Bankers Inc. 744,219 78,939
* Athene Holding Ltd. Class A 1,633,980 78,121
  Janus Henderson Group plc 2,343,146 77,535
  Synovus Financial Corp. 1,529,357 76,376
  Brown & Brown Inc. 2,976,620 75,725
  Bank of the Ozarks 1,562,164 75,406
* Western Alliance Bancorp 1,252,549 72,786
  Commerce Bancshares Inc. 1,207,193 72,323
  RenaissanceRe Holdings Ltd. 519,758 71,992
  LPL Financial Holdings Inc. 1,169,504 71,422
  Validus Holdings Ltd. 1,057,215 71,309
  New Residential Investment Corp. 4,324,254 71,134
  Starwood Property Trust Inc. 3,385,733 70,931
  Old Republic International Corp. 3,282,465 70,409
  Webster Financial Corp. 1,187,780 65,803
  Prosperity Bancshares Inc. 898,103 65,229
  Sterling Bancorp 2,886,115 65,082
  Hanover Insurance Group Inc. 551,183 64,979
* MGIC Investment Corp. 4,814,402 62,587
  Wintrust Financial Corp. 727,281 62,583
  Interactive Brokers Group Inc. 925,316 62,218
  Axis Capital Holdings Ltd. 1,080,023 62,177
  Umpqua Holdings Corp. 2,863,567 61,309
  Pinnacle Financial Partners Inc. 953,152 61,192
* Texas Capital Bancshares Inc. 640,427 57,574
  Hancock Holding Co. 1,104,658 57,111
  FNB Corp. 4,180,321 56,225
  Primerica Inc. 574,562 55,503
  Assured Guaranty Ltd. 1,525,750 55,232
  Popular Inc. 1,325,001 55,147
  BankUnited Inc. 1,378,114 55,097
  Stifel Financial Corp. 925,787 54,834
^,* Credit Acceptance Corp. 165,296 54,615
  IBERIABANK Corp. 698,372 54,473
  Associated Banc-Corp 2,184,724 54,290
  Radian Group Inc. 2,804,176 53,392
  Chemical Financial Corp. 928,923 50,794
  TCF Financial Corp. 2,218,790 50,611

 

 

  FirstCash Inc. 617,774 50,194
  United Bankshares Inc. 1,368,650 48,245
  Home BancShares Inc. 2,058,097 46,945
  First Citizens BancShares Inc. Class A 113,043 46,714
  CNO Financial Group Inc. 2,152,239 46,639
  Bank of Hawaii Corp. 559,905 46,528
  Selective Insurance Group Inc. 763,934 46,371
  Evercore Inc. Class A 531,509 46,348
* Essent Group Ltd. 1,070,354 45,554
  Investors Bancorp Inc. 3,273,436 44,650
  BGC Partners Inc. Class A 3,312,111 44,548
  Legg Mason Inc. 1,086,686 44,174
  Blackstone Mortgage Trust Inc. Class A 1,391,217 43,712
  MB Financial Inc. 1,073,458 43,454
  Valley National Bancorp 3,462,695 43,145
  Chimera Investment Corp. 2,412,577 42,003
  UMB Financial Corp. 574,956 41,621
  South State Corp. 478,138 40,785
  First Financial Bankshares Inc. 880,591 40,771
  Fulton Financial Corp. 2,295,692 40,749
  Federated Investors Inc. Class B 1,218,571 40,700
  Washington Federal Inc. 1,163,759 40,266
  Cathay General Bancorp 996,040 39,822
  Columbia Banking System Inc. 946,784 39,718
  MFA Financial Inc. 5,186,414 39,054
  Glacier Bancorp Inc. 1,011,816 38,834
* SLM Corp. 3,434,020 38,495
* Green Dot Corp. Class A 599,659 38,474
  White Mountains Insurance Group Ltd. 45,725 37,610
  Kemper Corp. 635,069 36,199
  BancorpSouth Bank 1,101,632 35,032
  Community Bank System Inc. 651,885 34,915
  Aspen Insurance Holdings Ltd. 772,347 34,640
  Two Harbors Investment Corp. 2,228,625 34,254
  American Equity Investment Life Holding Co. 1,158,117 34,002
  ProAssurance Corp. 695,895 33,786
^,* LendingTree Inc. 99,741 32,730
  RLI Corp. 507,676 32,182
  BOK Financial Corp. 324,464 32,119
  First Midwest Bancorp Inc. 1,305,477 32,102
  Great Western Bancorp Inc. 767,977 30,926
  CVB Financial Corp. 1,350,602 30,578
  Hope Bancorp Inc. 1,649,769 30,009
  Old National Bancorp 1,758,388 29,717
  United Community Banks Inc. 929,856 29,430
  Simmons First National Corp. Class A 1,022,836 29,100
^,* BofI Holding Inc. 714,883 28,974
* FCB Financial Holdings Inc. Class A 564,928 28,868
* Enstar Group Ltd. 137,094 28,824
  Financial Engines Inc. 819,984 28,699
  Erie Indemnity Co. Class A 240,598 28,304
  Trustmark Corp. 895,916 27,917
* OneMain Holdings Inc. 929,277 27,823
  International Bancshares Corp. 685,517 26,667
  Independent Bank Corp. 360,801 25,815
  Union Bankshares Corp. 702,808 25,800
  Ameris Bancorp 487,323 25,779

 

 

Apollo Commercial Real Estate Finance Inc. 1,428,408 25,683
Argo Group International Holdings Ltd. 446,159 25,610
WesBanco Inc. 578,681 24,478
ServisFirst Bancshares Inc. 596,216 24,338
* Eagle Bancorp Inc. 406,140 24,307
Santander Consumer USA Holdings Inc. 1,485,037 24,206
Renasant Corp. 566,268 24,100
Moelis & Co. Class A 472,686 24,036
Towne Bank 836,686 23,929
LegacyTexas Financial Group Inc. 555,399 23,782
Banner Corp. 425,335 23,602
Morningstar Inc. 246,301 23,527
First Financial Bancorp 794,293 23,313
Invesco Mortgage Capital Inc. 1,407,602 23,057
Horace Mann Educators Corp. 531,668 22,729
Capitol Federal Financial Inc. 1,824,041 22,527
Hilltop Holdings Inc. 957,798 22,470
First Merchants Corp. 536,960 22,391
* PRA Group Inc. 587,113 22,310
Northwest Bancshares Inc. 1,343,601 22,250
Mercury General Corp. 476,783 21,870
Waddell & Reed Financial Inc. Class A 1,078,448 21,795
Walker & Dunlop Inc. 364,746 21,673
CenterState Bank Corp. 792,890 21,035
NBT Bancorp Inc. 576,978 20,471
Provident Financial Services Inc. 799,918 20,470
Westamerica Bancorporation 349,581 20,304
* Pacific Premier Bancorp Inc. 501,836 20,174
National General Holdings Corp. 823,088 20,009
Artisan Partners Asset Management Inc. Class A 597,154 19,885
WSFS Financial Corp. 411,430 19,707
First Hawaiian Inc. 694,953 19,341
Ladder Capital Corp. Class A 1,272,868 19,195
* FGL Holdings 1,888,374 19,167
Sandy Spring Bancorp Inc. 476,727 18,478
Heartland Financial USA Inc. 348,016 18,462
S&T Bancorp Inc. 461,062 18,415
Berkshire Hills Bancorp Inc. 484,370 18,382
* Genworth Financial Inc. Class A 6,487,066 18,358
Park National Corp. 174,715 18,128
Houlihan Lokey Inc. Class A 397,590 17,733
CNA Financial Corp. 353,926 17,466
Navigators Group Inc. 300,417 17,319
Employers Holdings Inc. 428,019 17,313
First Commonwealth Financial Corp. 1,224,490 17,302
Virtu Financial Inc. Class A 521,702 17,216
* LendingClub Corp. 4,869,170 17,042
Infinity Property & Casualty Corp. 143,003 16,932
Brookline Bancorp Inc. 1,015,809 16,456
Boston Private Financial Holdings Inc. 1,092,141 16,437
Beneficial Bancorp Inc. 1,052,555 16,367
First Busey Corp. 546,884 16,253
* Seacoast Banking Corp. of Florida 611,541 16,187
Independent Bank Group Inc. 226,557 16,018
* Cannae Holdings Inc. 848,847 16,009
Lakeland Financial Corp. 343,389 15,875
Redwood Trust Inc. 1,013,302 15,676

 

 

  State Bank Financial Corp. 513,833 15,420
  Safety Insurance Group Inc. 200,383 15,399
* Third Point Reinsurance Ltd. 1,093,358 15,252
  Piper Jaffray Cos. 183,415 15,233
  AmTrust Financial Services Inc. 1,223,038 15,056
  Meridian Bancorp Inc. 719,642 14,501
  Enterprise Financial Services Corp. 307,417 14,418
* First BanCorp 2,364,446 14,234
  PennyMac Mortgage Investment Trust 785,448 14,162
  City Holding Co. 206,198 14,137
* Encore Capital Group Inc. 309,367 13,983
  AMERISAFE Inc. 252,022 13,924
  United Fire Group Inc. 290,661 13,911
  OceanFirst Financial Corp. 519,995 13,910
  First Bancorp 388,327 13,844
  Kearny Financial Corp. 1,064,532 13,839
  MainSource Financial Group Inc. 339,265 13,791
  CYS Investments Inc. 2,044,695 13,740
  WisdomTree Investments Inc. 1,490,392 13,667
  Stewart Information Services Corp. 310,808 13,657
  Universal Insurance Holdings Inc. 421,910 13,459
  Meta Financial Group Inc. 122,534 13,381
  Hanmi Financial Corp. 432,138 13,288
  Nelnet Inc. Class A 251,905 13,202
  Kinsale Capital Group Inc. 254,181 13,047
  Southside Bancshares Inc. 365,917 12,712
  American National Insurance Co. 107,378 12,559
  ARMOUR Residential REIT Inc. 538,869 12,545
  Hannon Armstrong Sustainable Infrastructure Capital Inc. 642,563 12,530
* NMI Holdings Inc. Class A 744,387 12,320
  Tompkins Financial Corp. 161,286 12,219
  BancFirst Corp. 222,986 11,841
  National Bank Holdings Corp. Class A 356,078 11,840
  Lakeland Bancorp Inc. 591,704 11,745
  Preferred Bank 180,304 11,576
  James River Group Holdings Ltd. 325,049 11,529
  Cohen & Steers Inc. 283,203 11,515
  Heritage Financial Corp. 375,717 11,497
  Capstead Mortgage Corp. 1,323,710 11,450
  Central Pacific Financial Corp. 399,355 11,366
  TFS Financial Corp. 772,633 11,350
  ConnectOne Bancorp Inc. 393,259 11,326
* Customers Bancorp Inc. 387,863 11,306
  1st Source Corp. 222,809 11,279
  Virtus Investment Partners Inc. 91,001 11,266
  Bryn Mawr Bank Corp. 253,712 11,151
  United Financial Bancorp Inc. 685,583 11,106
  PJT Partners Inc. 221,199 11,082
^,* MBIA Inc. 1,194,336 11,060
  MTGE Investment Corp. 606,613 10,858
  TrustCo Bank Corp. NY 1,273,023 10,757
  Univest Corp. of Pennsylvania 386,974 10,719
  Stock Yards Bancorp Inc. 304,697 10,695
  Community Trust Bancorp Inc. 234,580 10,603
  TriCo Bancshares 283,703 10,559
  Banc of California Inc. 546,723 10,552
  Washington Trust Bancorp Inc. 195,914 10,530

 

 

  Federal Agricultural Mortgage Corp. 119,798 10,425
  Flushing Financial Corp. 386,057 10,408
  Horizon Bancorp 342,203 10,270
* HomeStreet Inc. 353,776 10,136
* Triumph Bancorp Inc. 245,669 10,122
  German American Bancorp Inc. 301,575 10,058
  First Interstate BancSystem Inc. Class A 254,178 10,053
* Flagstar Bancorp Inc. 281,281 9,957
  CoBiz Financial Inc. 506,134 9,920
  Northfield Bancorp Inc. 623,516 9,733
  Cadence BanCorp Class A 356,252 9,701
* Enova International Inc. 438,579 9,671
  First of Long Island Corp. 344,047 9,444
  Granite Point Mortgage Trust Inc. 557,766 9,225
  Diamond Hill Investment Group Inc. 44,657 9,224
  Camden National Corp. 206,893 9,207
  National Western Life Group Inc. Class A 29,948 9,131
  Peoples Bancorp Inc. 255,206 9,047
  FBL Financial Group Inc. Class A 130,410 9,044
  Guaranty Bancorp 314,366 8,912
* EZCORP Inc. Class A 672,350 8,875
* INTL. FCStone Inc. 207,129 8,840
^ New York Mortgage Trust Inc. 1,477,918 8,764
  Carolina Financial Corp. 220,640 8,667
  Great Southern Bancorp Inc. 172,899 8,636
  Live Oak Bancshares Inc. 310,069 8,620
  Investment Technology Group Inc. 434,046 8,568
* Bancorp Inc. 790,954 8,542
* World Acceptance Corp. 79,335 8,354
  Bridge Bancorp Inc. 248,254 8,329
  Oritani Financial Corp. 529,590 8,129
* First Foundation Inc. 436,947 8,101
  Heritage Commerce Corp. 488,555 8,051
  Blue Hills Bancorp Inc. 385,985 8,048
  QCR Holdings Inc. 178,261 7,995
  First Defiance Financial Corp. 135,908 7,790
^,* Trupanion Inc. 259,003 7,742
* HarborOne Bancorp Inc. 431,087 7,613
* Donnelley Financial Solutions Inc. 443,375 7,613
  Dime Community Bancshares Inc. 408,276 7,512
  Hamilton Lane Inc. Class A 200,780 7,475
  People's Utah Bancorp 231,326 7,472
  Peapack Gladstone Financial Corp. 222,809 7,440
* Green Bancorp Inc. 321,663 7,157
  United Community Financial Corp. 725,253 7,151
  First Financial Corp. 169,819 7,064
  Waterstone Financial Inc. 406,646 7,035
  Arrow Financial Corp. 206,048 6,995
* National Commerce Corp. 160,043 6,970
  Mercantile Bank Corp. 203,993 6,783
* TriState Capital Holdings Inc. 291,022 6,766
  Fidelity Southern Corp. 292,527 6,749
* Nationstar Mortgage Holdings Inc. 371,704 6,676
  AG Mortgage Investment Trust Inc. 379,572 6,593
  Independent Bank Corp. 285,958 6,548
* Veritex Holdings Inc. 232,427 6,431
  West Bancorporation Inc. 249,888 6,397

 

 

  First Community Bancshares Inc. 213,760 6,381
  Anworth Mortgage Asset Corp. 1,319,006 6,331
* Equity Bancshares Inc. Class A 159,951 6,264
* FB Financial Corp. 154,304 6,263
  Opus Bank 221,310 6,197
* Greenlight Capital Re Ltd. Class A 385,590 6,189
  Arbor Realty Trust Inc. 701,254 6,185
  Western Asset Mortgage Capital Corp. 636,181 6,165
* PennyMac Financial Services Inc. Class A 270,257 6,121
^,* Republic First Bancorp Inc. 699,435 6,085
  State Auto Financial Corp. 212,548 6,072
* Allegiance Bancshares Inc. 154,848 6,062
  Westwood Holdings Group Inc. 107,001 6,044
^ Greenhill & Co. Inc. 325,503 6,022
  OFG Bancorp 573,361 5,992
* HomeTrust Bancshares Inc. 228,893 5,963
* Ocwen Financial Corp. 1,437,432 5,922
  Financial Institutions Inc. 198,574 5,878
* Atlantic Capital Bancshares Inc. 319,637 5,785
  Maiden Holdings Ltd. 870,950 5,661
  Access National Corp. 196,275 5,600
  Republic Bancorp Inc. Class A 138,987 5,323
  Midland States Bancorp Inc. 166,710 5,261
* Nicolet Bankshares Inc. 95,262 5,246
* Franklin Financial Network Inc. 159,157 5,189
  Old Second Bancorp Inc. 372,465 5,177
  United Insurance Holdings Corp. 270,240 5,172
  Bar Harbor Bankshares 185,665 5,147
  First Connecticut Bancorp Inc. 199,703 5,112
  Clifton Bancorp Inc. 324,600 5,080
  CNB Financial Corp. 174,222 5,068
  American National Bankshares Inc. 134,654 5,063
  Bank of Marin Bancorp 73,410 5,062
^ Farmers & Merchants Bancorp Inc. 120,466 4,863
* PCSB Financial Corp. 230,501 4,836
^ Orchid Island Capital Inc. 652,344 4,808
  Ares Commercial Real Estate Corp. 388,968 4,804
* Southern First Bancshares Inc. 107,607 4,789
* Regional Management Corp. 149,573 4,762
^,* Cowen Inc. Class A 354,016 4,673
  Dynex Capital Inc. 702,985 4,661
  Farmers National Banc Corp. 335,396 4,645
* Ambac Financial Group Inc. 295,435 4,632
  Ladenburg Thalmann Financial Services Inc. 1,407,577 4,603
  Territorial Bancorp Inc. 154,500 4,582
  Heritage Insurance Holdings Inc. 299,246 4,537
* Health Insurance Innovations Inc. Class A 156,821 4,532
* PHH Corp. 432,534 4,524
  Citizens & Northern Corp. 189,265 4,370
^,* Citizens Inc. Class A 594,379 4,351
  MidWestOne Financial Group Inc. 126,545 4,213
  Sierra Bancorp 157,671 4,200
  Capital City Bank Group Inc. 165,953 4,107
  First Mid-Illinois Bancshares Inc. 112,453 4,099
* BSB Bancorp Inc. 133,413 4,082
  B. Riley Financial Inc. 208,520 4,066
  Farmers Capital Bank Corp. 101,736 4,064

 

 

Resource Capital Corp. 426,315 4,054
BankFinancial Corp. 238,427 4,048
Cambridge Bancorp 45,706 3,988
Southern National Bancorp of Virginia Inc. 251,015 3,976
HCI Group Inc. 103,999 3,969
First Internet Bancorp 106,495 3,940
First Bancshares Inc. 122,136 3,939
Macatawa Bank Corp. 382,516 3,928
Hingham Institution for Savings 19,024 3,919
Arlington Asset Investment Corp. Class A 349,737 3,861
Old Line Bancshares Inc. 116,973 3,860
* WMIH Corp. 2,667,681 3,788
* Safeguard Scientifics Inc. 306,159 3,750
First Bancorp Inc. 132,979 3,721
Western New England Bancorp Inc. 343,236 3,655
Investar Holding Corp. 141,176 3,649
Century Bancorp Inc. Class A 45,538 3,616
National Bankshares Inc. 79,382 3,576
Charter Financial Corp. 175,156 3,571
Sutherland Asset Management Corp. 233,615 3,539
Northrim BanCorp Inc. 100,650 3,477
Baldwin & Lyons Inc. 156,145 3,435
^ First Guaranty Bancshares Inc. 132,075 3,433
Marlin Business Services Corp. 118,439 3,358
EMC Insurance Group Inc. 121,463 3,289
* On Deck Capital Inc. 586,104 3,276
Global Indemnity Ltd. 93,876 3,241
Oppenheimer Holdings Inc. Class A 124,767 3,213
Southern Missouri Bancorp Inc. 86,799 3,177
FNB Bancorp 86,315 3,176
Home Bancorp Inc. 73,486 3,172
* eHealth Inc. 214,486 3,069
* First Northwest Bancorp 181,065 3,058
* Entegra Financial Corp. 105,318 3,054
Enterprise Bancorp Inc. 85,642 3,022
MutualFirst Financial Inc. 83,335 3,021
KKR Real Estate Finance Trust Inc. 148,127 2,971
First Business Financial Services Inc. 117,655 2,960
TPG RE Finance Trust Inc. 146,984 2,924
Great Ajax Corp. 215,412 2,919
Investors Title Co. 14,531 2,905
Civista Bancshares Inc. 126,205 2,885
Cherry Hill Mortgage Investment Corp. 162,778 2,855
* Provident Bancorp Inc. 106,636 2,831
Orrstown Financial Services Inc. 115,965 2,801
MBT Financial Corp. 260,407 2,799
Peoples Financial Services Corp. 60,754 2,773
FS Bancorp Inc. 51,702 2,766
Shore Bancshares Inc. 145,990 2,753
Ames National Corp. 96,545 2,655
ACNB Corp. 90,575 2,649
Federated National Holding Co. 161,759 2,551
Codorus Valley Bancorp Inc. 90,669 2,550
SI Financial Group Inc. 176,685 2,544
Independence Holding Co. 69,862 2,491
Pzena Investment Management Inc. Class A 221,443 2,465
Central Valley Community Bancorp 125,209 2,449

 

 

  Bankwell Financial Group Inc. 74,589 2,408
  Bank of Commerce Holdings 206,014 2,400
  Riverview Bancorp Inc. 256,932 2,400
* Community Bankers Trust Corp. 265,195 2,387
  Summit Financial Group Inc. 94,868 2,373
  BCB Bancorp Inc. 150,659 2,358
* Capstar Financial Holdings Inc. 122,093 2,299
  Peoples Bancorp of North Carolina Inc. 74,425 2,286
* Sterling Bancorp Inc. 168,327 2,274
  MidSouth Bancorp Inc. 176,101 2,228
  Crawford & Co. Class B 269,080 2,212
  Evans Bancorp Inc. 48,614 2,200
* Pacific Mercantile Bancorp 225,282 2,151
  Northeast Bancorp 102,005 2,091
  Penns Woods Bancorp Inc. 49,331 2,087
  Donegal Group Inc. Class A 130,426 2,061
  County Bancorp Inc. 70,459 2,058
  Provident Financial Holdings Inc. 111,991 2,026
  Sussex Bancorp 66,605 2,025
^ GAIN Capital Holdings Inc. 298,137 2,012
  LCNB Corp. 105,699 2,008
  First Bank 138,267 1,991
  Timberland Bancorp Inc. 64,896 1,973
* Howard Bancorp Inc. 99,459 1,969
  Reliant Bancorp Inc. 86,063 1,961
* NI Holdings Inc. 117,411 1,961
  ESSA Bancorp Inc. 133,034 1,952
* First United Corp. 101,549 1,950
  Community Financial Corp. 52,153 1,941
  Merchants Bancorp 89,391 1,922
* Metropolitan Bank Holding Corp. 45,344 1,909
  Kingstone Cos. Inc. 112,738 1,894
  First Community Corp. 81,398 1,864
  Owens Realty Mortgage Inc. 124,790 1,819
  Tiptree Inc. 285,845 1,815
* Victory Capital Holdings Inc. Class A 147,560 1,815
  Bear State Financial Inc. 169,803 1,740
  GAMCO Investors Inc. Class A 70,024 1,739
  First Financial Northwest Inc. 103,776 1,738
  Unity Bancorp Inc. 78,637 1,730
  Oak Valley Bancorp 77,906 1,715
* SmartFinancial Inc. 72,314 1,704
  Ohio Valley Banc Corp. 40,202 1,682
  United Security Bancshares 154,470 1,661
* Select Bancorp Inc. 119,451 1,596
* Atlas Financial Holdings Inc. 151,756 1,571
* Atlantic Coast Financial Corp. 149,481 1,540
^ Associated Capital Group Inc. Class A 40,475 1,516
  Ellington Residential Mortgage REIT 133,719 1,466
* Byline Bancorp Inc. 63,239 1,450
* Meridian Bank 82,000 1,439
^,* Impac Mortgage Holdings Inc. 181,158 1,431
  C&F Financial Corp. 27,095 1,425
  1st Constitution Bancorp 65,078 1,406
  Chemung Financial Corp. 29,178 1,356
  SB Financial Group Inc. 71,886 1,323
* Hallmark Financial Services Inc. 147,517 1,316

 

 

Union Bankshares Inc. 25,861 1,314
Hawthorn Bancshares Inc. 63,034 1,289
Colony Bankcorp Inc. 79,031 1,280
* Security National Financial Corp. Class A 243,954 1,256
* Malvern Bancorp Inc. 48,312 1,256
Parke Bancorp Inc. 59,567 1,239
* Elevate Credit Inc. 172,786 1,223
Citizens Community Bancorp Inc. 86,970 1,215
American River Bankshares 77,554 1,203
Luther Burbank Corp. 98,643 1,185
Silvercrest Asset Management Group Inc. Class A 76,417 1,162
Prudential Bancorp Inc. 63,233 1,147
* Ashford Inc. 11,791 1,129
Hennessy Advisors Inc. 57,467 1,109
Norwood Financial Corp. 36,212 1,090
Premier Financial Bancorp Inc. 54,199 1,009
Federal Agricultural Mortgage Corp. Class A 12,586 1,002
Guaranty Bancshares Inc. 29,570 985
* Nicholas Financial Inc. 107,396 974
AmeriServ Financial Inc. 243,264 973
Two River Bancorp 52,053 940
Donegal Group Inc. Class B 63,194 885
Guaranty Federal Bancshares Inc. 38,791 884
* Great Elm Capital Group Inc. 220,092 880
* HMN Financial Inc. 47,410 877
CB Financial Services Inc. 28,243 866
* Coastway Bancorp Inc. 31,231 851
Sound Financial Bancorp Inc. 22,640 830
DNB Financial Corp. 22,522 803
Plumas Bancorp 30,456 757
* Consumer Portfolio Services Inc. 196,371 740
Middlefield Banc Corp. 14,924 733
United Bancorp Inc. 57,845 729
Blue Capital Reinsurance Holdings Ltd. 58,813 718
* Esquire Financial Holdings Inc. 29,100 710
First Savings Financial Group Inc. 9,816 687
Old Point Financial Corp. 25,812 681
CBTX Inc. 22,830 672
Bancorp of New Jersey Inc. 39,508 658
United Community Bancorp 23,777 599
Crawford & Co. Class A 73,930 593
Five Oaks Investment Corp. 201,472 586
* Bay Bancorp Inc. 42,283 569
HopFed Bancorp Inc. 37,884 549
Citizens Holding Co. 24,834 544
Manhattan Bridge Capital Inc. 74,147 515
RBB Bancorp 19,454 513
Salisbury Bancorp Inc. 11,081 499
* Curo Group Holdings Corp. 28,414 489
A-Mark Precious Metals Inc. 37,995 465
* TheStreet Inc. 251,928 451
* Anchor Bancorp Inc. 17,112 419
^ US Global Investors Inc. Class A 159,768 404
Greene County Bancorp Inc. 10,978 403
* Central Federal Corp. 155,702 361
Manning & Napier Inc. 102,421 358
Severn Bancorp Inc. 48,604 352

 

 

* PDL Community Bancorp 23,723 348
  Eagle Bancorp Montana Inc. 16,700 347
  First Capital Inc. 8,111 320
  Medley Management Inc. Class A 52,157 297
  Mid Penn Bancorp Inc. 9,159 293
  Sachem Capital Corp. 78,497 272
  United Bancshares Inc. 11,989 259
  Wellesley Bank 8,228 253
^,* Siebert Financial Corp. 27,539 232
* Atlanticus Holdings Corp. 86,999 186
* Bridgewater Bancshares Inc. 14,234 186
* Tremont Mortgage Trust 13,800 181
  Stewardship Financial Corp. 14,809 166
  IF Bancorp Inc. 7,923 158
* Bank of Princeton 4,310 149
* Conifer Holdings Inc. 24,973 146
  Southwest Georgia Financial Corp. 6,935 146
  Auburn National Bancorporation Inc. 3,559 136
  Mackinac Financial Corp. 8,314 134
  MSB Financial Corp. 7,420 133
  Fauquier Bankshares Inc. 6,271 131
* Magyar Bancorp Inc. 10,465 129
  Bank of South Carolina Corp. 5,843 118
* Porter Bancorp Inc. 8,406 115
  Glen Burnie Bancorp 9,237 110
* Hamilton Bancorp Inc. 7,058 100
  Bank of the James Financial Group Inc. 6,346 96
* FFBW Inc. 8,563 94
* Randolph Bancorp Inc. 5,560 90
  Landmark Bancorp Inc. 2,896 84
  PB Bancorp Inc. 7,820 82
  Jacksonville Bancorp Inc. 2,453 82
  Community West Bancshares 7,229 81
  Kentucky First Federal Bancorp 9,199 80
  Oconee Federal Financial Corp. 2,585 74
* 1347 Property Insurance Holdings Inc. 10,209 73
* First Acceptance Corp. 81,474 69
  Asta Funding Inc. 18,311 68
* ZAIS Group Holdings Inc. 16,499 67
* National Holdings Corp. 13,459 61
  Elmira Savings Bank 3,019 61
  Summit State Bank 4,324 58
* Broadway Financial Corp. 22,638 47
  First US Bancshares Inc. 3,795 43
* Village Bank and Trust Financial Corp. 1,338 43
  Pathfinder Bancorp Inc. 2,700 41
* Community First Bancshares Inc. 3,500 39
* ICC Holdings Inc. 2,593 39
  Citizens First Corp. 1,420 35
* Bancorp 34 Inc. 2,093 31
* Equitable Financial Corp. 2,807 29
  Patriot National Bancorp Inc. 1,479 28
  Poage Bankshares Inc. 1,301 25
  Value Line Inc. 586 11
^,* LM Funding America Inc. 11,923 10
* Carolina Trust Bancshares Inc. 1,085 10
* National Holdings Corp. Warrants Exp. 01/18/2022 7,766 10

 

 

Atlantic American Corp. 2,591 8
GWG Holdings Inc. 900 7
Lake Shore Bancorp Inc. 300 5
* FSB Bancorp Inc. 229 4
Ottawa Bancorp Inc. 200 3
* FlexShopper Inc. 519 2
HV Bancorp Inc. 100 1
* Carver Bancorp Inc. 445 1
Cohen & Co. Inc. 64 1
* WCF Bancorp Inc. 21 —
Home Federal Bancorp Inc. 6 —
    10,705,538
Health Care (11.2%)    
* BioMarin Pharmaceutical Inc. 2,277,763 184,658
* ABIOMED Inc. 545,547 158,749
Teleflex Inc. 584,359 149,000
* Alnylam Pharmaceuticals Inc. 1,058,372 126,052
* Jazz Pharmaceuticals plc 777,717 117,427
* Alkermes plc 2,023,341 117,273
* WellCare Health Plans Inc. 577,693 111,859
* Bluebird Bio Inc. 647,877 110,625
* Veeva Systems Inc. Class A 1,508,396 110,143
STERIS plc 1,101,664 102,851
* Sage Therapeutics Inc. 593,444 95,586
* Neurocrine Biosciences Inc. 1,147,898 95,195
West Pharmaceutical Services Inc. 959,872 84,747
* DexCom Inc. 1,127,279 83,599
* Exelixis Inc. 3,645,183 80,741
* athenahealth Inc. 520,258 74,412
Hill-Rom Holdings Inc. 852,382 74,157
Bio-Techne Corp. 486,488 73,479
Encompass Health Corp. 1,273,636 72,814
* Seattle Genetics Inc. 1,369,989 71,705
* Ionis Pharmaceuticals Inc. 1,618,653 71,350
* Catalent Inc. 1,729,843 71,027
* MEDNAX Inc. 1,216,905 67,696
* Insulet Corp. 757,656 65,674
* Bio-Rad Laboratories Inc. Class A 262,243 65,582
* Charles River Laboratories International Inc. 612,673 65,397
* United Therapeutics Corp. 561,011 63,035
* Exact Sciences Corp. 1,552,948 62,630
* Sarepta Therapeutics Inc. 788,195 58,397
Chemed Corp. 207,889 56,725
* Masimo Corp. 617,005 54,266
* PRA Health Sciences Inc. 650,047 53,928
Cantel Medical Corp. 461,130 51,374
* Avexis Inc. 411,087 50,802
* Agios Pharmaceuticals Inc. 620,057 50,708
* Haemonetics Corp. 690,650 50,528
* LivaNova plc 564,393 49,949
* ICU Medical Inc. 196,028 49,477
* Molina Healthcare Inc. 594,859 48,291
* Medidata Solutions Inc. 765,440 48,077
* Globus Medical Inc. 940,758 46,869
* Blueprint Medicines Corp. 503,917 46,209
* FibroGen Inc. 989,492 45,715
* Integra LifeSciences Holdings Corp. 825,490 45,683

 

 

* Ligand Pharmaceuticals Inc. 274,030 45,259
* Neogen Corp. 669,236 44,832
* Penumbra Inc. 387,540 44,819
* Array BioPharma Inc. 2,693,346 43,955
* Acadia Healthcare Co. Inc. 1,062,824 41,641
* HealthEquity Inc. 669,223 40,515
  Bruker Corp. 1,313,220 39,292
* Amicus Therapeutics Inc. 2,393,449 35,997
* AMN Healthcare Services Inc. 618,810 35,117
* NuVasive Inc. 662,898 34,610
* Halozyme Therapeutics Inc. 1,725,008 33,793
* Magellan Health Inc. 313,621 33,589
* Clovis Oncology Inc. 635,913 33,576
* Loxo Oncology Inc. 282,719 32,617
* Nevro Corp. 361,588 31,339
* Supernus Pharmaceuticals Inc. 669,045 30,642
* Ultragenyx Pharmaceutical Inc. 597,177 30,450
* Horizon Pharma plc 2,127,184 30,206
* Merit Medical Systems Inc. 652,856 29,607
* Global Blood Therapeutics Inc. 612,322 29,575
* Allscripts Healthcare Solutions Inc. 2,342,794 28,934
* ACADIA Pharmaceuticals Inc. 1,272,519 28,594
^,* TESARO Inc. 493,895 28,221
* Halyard Health Inc. 609,209 28,072
* Portola Pharmaceuticals Inc. 846,692 27,653
* Inogen Inc. 224,472 27,574
* Medicines Co. 836,974 27,570
* Wright Medical Group NV 1,371,652 27,214
* Ironwood Pharmaceuticals Inc. Class A 1,757,587 27,120
^,* Spark Therapeutics Inc. 407,156 27,113
* Puma Biotechnology Inc. 394,330 26,834
^,* Teladoc Inc. 665,202 26,808
* Myriad Genetics Inc. 903,612 26,702
* Aerie Pharmaceuticals Inc. 487,668 26,456
* Syneos Health Inc. 730,915 25,947
* Tenet Healthcare Corp. 1,049,604 25,453
* Arena Pharmaceuticals Inc. 620,320 24,503
* Emergent BioSolutions Inc. 455,878 24,002
* Select Medical Holdings Corp. 1,390,126 23,980
* LifePoint Health Inc. 506,868 23,823
  Patterson Cos. Inc. 1,050,100 23,344
* Prestige Brands Holdings Inc. 689,107 23,237
* Akorn Inc. 1,221,626 22,857
* Insmed Inc. 994,470 22,395
* Amedisys Inc. 370,808 22,375
* Cambrex Corp. 426,524 22,307
* Premier Inc. Class A 711,620 22,281
* Omnicell Inc. 499,231 21,667
* NxStage Medical Inc. 863,297 21,462
* Atara Biotherapeutics Inc. 542,700 21,165
  CONMED Corp. 330,062 20,903
  Abaxis Inc. 295,061 20,837
* Sangamo Therapeutics Inc. 1,096,488 20,833
* Integer Holdings Corp. 368,342 20,830
^,* Immunomedics Inc. 1,398,063 20,426
* Corcept Therapeutics Inc. 1,234,118 20,301
* Heron Therapeutics Inc. 729,524 20,135

 

 

* AnaptysBio Inc. 189,133 19,685
* Quidel Corp. 379,767 19,676
* Acceleron Pharma Inc. 498,767 19,502
* Esperion Therapeutics Inc. 264,028 19,097
^,* Radius Health Inc. 527,085 18,943
* Spectrum Pharmaceuticals Inc. 1,174,532 18,898
* Impax Laboratories Inc. 959,417 18,661
^,* Prothena Corp. plc 500,101 18,359
* HMS Holdings Corp. 1,080,019 18,188
* Momenta Pharmaceuticals Inc. 999,527 18,141
* Xencor Inc. 602,021 18,049
* Zogenix Inc. 444,591 17,806
* Repligen Corp. 488,122 17,660
* Tivity Health Inc. 443,887 17,600
* Varex Imaging Corp. 490,580 17,553
* Mallinckrodt plc 1,202,831 17,417
* Cotiviti Holdings Inc. 493,067 16,981
  Ensign Group Inc. 629,373 16,553
* Pacira Pharmaceuticals Inc. 526,838 16,411
* Iovance Biotherapeutics Inc. 963,810 16,288
* Brookdale Senior Living Inc. 2,423,186 16,260
* Editas Medicine Inc. 482,073 15,981
* Innoviva Inc. 946,530 15,779
  Analogic Corp. 162,738 15,607
* Endo International plc 2,613,099 15,522
* Aimmune Therapeutics Inc. 486,415 15,483
* iRhythm Technologies Inc. 245,033 15,425
* Enanta Pharmaceuticals Inc. 186,605 15,098
^,* OPKO Health Inc. 4,722,627 14,971
* Foundation Medicine Inc. 188,271 14,826
* Acorda Therapeutics Inc. 609,332 14,411
* Natus Medical Inc. 426,850 14,364
^,* Intercept Pharmaceuticals Inc. 231,264 14,227
* ImmunoGen Inc. 1,338,803 14,084
* Intersect ENT Inc. 356,195 13,998
* Orthofix International NV 237,032 13,933
* Dynavax Technologies Corp. 700,510 13,905
  US Physical Therapy Inc. 170,374 13,851
* AxoGen Inc. 376,608 13,746
* OraSure Technologies Inc. 792,545 13,386
* PTC Therapeutics Inc. 492,301 13,322
^,* Intrexon Corp. 861,915 13,213
* Intra-Cellular Therapies Inc. 615,202 12,950
^,* Theravance Biopharma Inc. 533,967 12,949
* MyoKardia Inc. 264,483 12,907
* LHC Group Inc. 209,172 12,877
  Atrion Corp. 19,986 12,617
* Diplomat Pharmacy Inc. 621,720 12,528
^,* Glaukos Corp. 404,159 12,460
  Owens & Minor Inc. 800,410 12,446
* BioTelemetry Inc. 400,002 12,420
* MacroGenics Inc. 484,934 12,201
* Epizyme Inc. 665,593 11,814
* Mirati Therapeutics Inc. 381,672 11,717
* Retrophin Inc. 511,843 11,445
^,* TherapeuticsMD Inc. 2,332,480 11,359
^,* Evolent Health Inc. Class A 795,111 11,330

 

 

  Luminex Corp. 536,236 11,298
* Vanda Pharmaceuticals Inc. 660,575 11,131
* Revance Therapeutics Inc. 357,436 11,009
^,* TG Therapeutics Inc. 774,499 10,998
* Assembly Biosciences Inc. 222,210 10,919
* Kindred Healthcare Inc. 1,180,780 10,804
* Audentes Therapeutics Inc. 357,830 10,753
* CytomX Therapeutics Inc. 369,687 10,518
^,* Flexion Therapeutics Inc. 457,514 10,253
* REGENXBIO Inc. 339,719 10,141
  Phibro Animal Health Corp. Class A 254,963 10,122
* Providence Service Corp. 145,837 10,083
* Cymabay Therapeutics Inc. 759,406 9,865
* Alder Biopharmaceuticals Inc. 774,002 9,830
* K2M Group Holdings Inc. 518,041 9,817
* Anika Therapeutics Inc. 191,648 9,529
* Cardiovascular Systems Inc. 432,775 9,491
* Novavax Inc. 4,517,582 9,487
* AMAG Pharmaceuticals Inc. 468,738 9,445
^,* MiMedx Group Inc. 1,326,912 9,249
* Almost Family Inc. 163,436 9,152
* Cerus Corp. 1,654,301 9,066
* Cutera Inc. 180,282 9,059
* Vocera Communications Inc. 381,506 8,935
^,* Geron Corp. 2,074,494 8,817
^,* Inovalon Holdings Inc. Class A 826,271 8,758
* CryoLife Inc. 432,574 8,673
* Amphastar Pharmaceuticals Inc. 461,310 8,650
* AtriCure Inc. 419,067 8,599
* Madrigal Pharmaceuticals Inc. 72,769 8,499
* Quality Systems Inc. 618,540 8,443
  National HealthCare Corp. 139,833 8,338
  HealthStream Inc. 334,947 8,317
* AngioDynamics Inc. 480,943 8,296
* Genomic Health Inc. 258,710 8,095
^,* Arrowhead Pharmaceuticals Inc. 1,122,011 8,090
^,* Accelerate Diagnostics Inc. 350,093 8,000
* G1 Therapeutics Inc. 215,409 7,981
  Meridian Bioscience Inc. 553,217 7,856
* Triple-S Management Corp. Class B 299,019 7,816
^,* La Jolla Pharmaceutical Co. 258,894 7,710
^,* WaVe Life Sciences Ltd. 189,549 7,601
* Five Prime Therapeutics Inc. 439,721 7,554
  Invacare Corp. 427,447 7,438
* R1 RCM Inc. 1,031,875 7,368
* Surmodics Inc. 189,430 7,208
  LeMaitre Vascular Inc. 198,520 7,192
^,* Athenex Inc. 413,929 7,041
^,* Collegium Pharmaceutical Inc. 275,178 7,031
* Heska Corp. 86,407 6,832
* Progenics Pharmaceuticals Inc. 915,199 6,827
* Endocyte Inc. 751,078 6,827
^,* GlycoMimetics Inc. 418,784 6,797
* ANI Pharmaceuticals Inc. 116,652 6,791
^,* ZIOPHARM Oncology Inc. 1,710,296 6,704
* Coherus Biosciences Inc. 604,019 6,674
* Rigel Pharmaceuticals Inc. 1,884,499 6,671

 

 

* Achillion Pharmaceuticals Inc. 1,792,452 6,650
^,* Omeros Corp. 593,955 6,634
* Tabula Rasa HealthCare Inc. 168,665 6,544
* Kura Oncology Inc. 346,409 6,495
* BioCryst Pharmaceuticals Inc. 1,339,306 6,388
* CorVel Corp. 126,061 6,372
^,* Lannett Co. Inc. 396,065 6,357
* RadNet Inc. 441,199 6,353
* Karyopharm Therapeutics Inc. 464,073 6,228
* NeoGenomics Inc. 755,588 6,166
* Lantheus Holdings Inc. 384,025 6,106
^,* Adamas Pharmaceuticals Inc. 255,371 6,103
^,* Lexicon Pharmaceuticals Inc. 708,607 6,073
^,* Tactile Systems Technology Inc. 190,542 6,059
* Akebia Therapeutics Inc. 622,548 5,933
* PDL BioPharma Inc. 2,014,154 5,922
^,* Community Health Systems Inc. 1,489,309 5,898
^,* Synergy Pharmaceuticals Inc. 3,171,923 5,805
^,* Eagle Pharmaceuticals Inc. 108,993 5,743
* Accuray Inc. 1,143,556 5,718
^,* Keryx Biopharmaceuticals Inc. 1,396,319 5,711
^,* Intellia Therapeutics Inc. 268,998 5,673
^,* Abeona Therapeutics Inc. 392,486 5,632
* Aclaris Therapeutics Inc. 315,647 5,530
* Fate Therapeutics Inc. 562,529 5,490
* Depomed Inc. 825,037 5,437
* Codexis Inc. 486,921 5,356
^,* Achaogen Inc. 412,262 5,339
* Cross Country Healthcare Inc. 480,220 5,335
^,* Akcea Therapeutics Inc. 207,632 5,317
* Stemline Therapeutics Inc. 338,638 5,181
* Agenus Inc. 1,084,657 5,109
* STAAR Surgical Co. 343,493 5,084
* Inovio Pharmaceuticals Inc. 1,068,106 5,031
* Medpace Holdings Inc. 143,124 4,996
^,* MediciNova Inc. 481,623 4,922
* Voyager Therapeutics Inc. 259,891 4,883
* Addus HomeCare Corp. 97,333 4,735
* Paratek Pharmaceuticals Inc. 363,704 4,728
^,* Sorrento Therapeutics Inc. 910,453 4,689
* Cytokinetics Inc. 647,016 4,659
* Endologix Inc. 1,089,106 4,607
^,* Cara Therapeutics Inc. 364,044 4,507
* Vericel Corp. 448,441 4,462
* Kadmon Holdings Inc. 1,023,145 4,348
  Computer Programs & Systems Inc. 148,217 4,328
* Aduro Biotech Inc. 462,214 4,299
* Aquinox Pharmaceuticals Inc. 303,617 4,275
* Concert Pharmaceuticals Inc. 186,291 4,266
* BioScrip Inc. 1,708,553 4,203
* Surgery Partners Inc. 241,028 4,134
* Durect Corp. 1,914,383 4,097
* Idera Pharmaceuticals Inc. 2,225,439 4,095
* Antares Pharma Inc. 1,854,977 4,081
* GenMark Diagnostics Inc. 744,858 4,052
* Clearside Biomedical Inc. 376,510 4,040
* Capital Senior Living Corp. 373,837 4,019

 

 

^,* Corium International Inc. 345,694 3,965
^,* BioTime Inc. 1,456,167 3,917
* Celldex Therapeutics Inc. 1,669,890 3,891
^,* Corbus Pharmaceuticals Holdings Inc. 636,159 3,881
* Natera Inc. 413,473 3,833
* AVEO Pharmaceuticals Inc. 1,308,492 3,795
* ChemoCentryx Inc. 273,425 3,719
^,* Catalyst Biosciences Inc. 142,259 3,670
  Utah Medical Products Inc. 36,945 3,652
^,* Denali Therapeutics Inc. 184,560 3,634
* Syndax Pharmaceuticals Inc. 254,078 3,616
* Dermira Inc. 449,840 3,594
  National Research Corp. Class A 121,701 3,560
* RTI Surgical Inc. 770,130 3,543
* Biohaven Pharmaceutical Holding Co. Ltd. 134,296 3,459
^,* CryoPort Inc. 397,505 3,419
* Syros Pharmaceuticals Inc. 261,521 3,395
^,* Rockwell Medical Inc. 650,112 3,387
* Adverum Biotechnologies Inc. 564,219 3,272
^,* Apellis Pharmaceuticals Inc. 144,209 3,188
* Savara Inc. 341,497 3,142
^,* Ampio Pharmaceuticals Inc. 920,490 3,130
^,* Reata Pharmaceuticals Inc. Class A 152,011 3,118
* Civitas Solutions Inc. 202,240 3,114
* Chimerix Inc. 597,852 3,109
* Enzo Biochem Inc. 565,013 3,096
* American Renal Associates Holdings Inc. 163,247 3,077
  Aceto Corp. 397,373 3,020
^,* Vital Therapies Inc. 439,529 2,989
* Dicerna Pharmaceuticals Inc. 309,608 2,960
* Albireo Pharma Inc. 89,945 2,930
^,* Pacific Biosciences of California Inc. 1,422,634 2,916
* Castlight Health Inc. Class B 798,273 2,914
* Catalyst Pharmaceuticals Inc. 1,215,964 2,906
^,* Athersys Inc. 1,586,644 2,904
* BioSpecifics Technologies Corp. 64,996 2,882
* Rocket Pharmaceuticals Inc. 153,059 2,870
* Kindred Biosciences Inc. 322,909 2,793
* Fluidigm Corp. 476,563 2,783
^,* ViewRay Inc. 426,760 2,744
^,* Tandem Diabetes Care Inc. 552,558 2,741
* CTI BioPharma Corp. 702,209 2,739
^,* MannKind Corp. 1,197,016 2,729
* FONAR Corp. 90,717 2,703
^,* Dova Pharmaceuticals Inc. 98,899 2,682
* Harvard Bioscience Inc. 536,296 2,681
^,* Invitae Corp. 571,040 2,678
* Quorum Health Corp. 323,816 2,649
^,* NewLink Genetics Corp. 363,195 2,633
^,* Bellicum Pharmaceuticals Inc. 396,686 2,602
^,* Ocular Therapeutix Inc. 393,205 2,560
^,* TransEnterix Inc. 1,493,380 2,539
* Palatin Technologies Inc. 2,204,905 2,403
^,* Cellular Biomedicine Group Inc. 136,859 2,402
* Minerva Neurosciences Inc. 376,828 2,355
* Aratana Therapeutics Inc. 528,186 2,329
^,* Neos Therapeutics Inc. 276,827 2,298

 

 

* CareDx Inc. 287,093 2,288
* Zafgen Inc. 302,955 2,257
^,* Viking Therapeutics Inc. 515,600 2,253
* Calithera Biosciences Inc. 348,966 2,198
* Conatus Pharmaceuticals Inc. 367,168 2,155
^,* PetIQ Inc. 80,780 2,149
* Recro Pharma Inc. 194,068 2,137
* Tetraphase Pharmaceuticals Inc. 683,900 2,100
^,* Teligent Inc. 618,513 2,078
^,* CytoSorbents Corp. 293,246 2,067
  Simulations Plus Inc. 137,593 2,029
* Mustang Bio Inc. 181,822 1,989
* Seres Therapeutics Inc. 267,157 1,961
* Miragen Therapeutics Inc. 277,652 1,946
^,* T2 Biosystems Inc. 299,724 1,945
* ARMO BioSciences Inc. 51,941 1,943
* Ardelyx Inc. 383,528 1,937
* Rhythm Pharmaceuticals Inc. 96,552 1,921
* Menlo Therapeutics Inc. 50,977 1,916
^,* Insys Therapeutics Inc. 315,596 1,906
* Deciphera Pharmaceuticals Inc. 93,806 1,880
* Jounce Therapeutics Inc. 84,024 1,878
^,* Galectin Therapeutics Inc. 395,955 1,877
* Melinta Therapeutics Inc. 251,280 1,859
* NanoString Technologies Inc. 246,151 1,849
^,* Sientra Inc. 190,898 1,844
* Avid Bioservices Inc. 628,919 1,836
* Nuvectra Corp. 139,288 1,814
* InflaRx NV 62,603 1,805
* Verastem Inc. 598,862 1,785
^,* NantHealth Inc. 584,599 1,783
* BioDelivery Sciences International Inc. 788,331 1,774
* Spring Bank Pharmaceuticals Inc. 114,653 1,763
^,* Optinose Inc. 85,820 1,718
^,* Zynerba Pharmaceuticals Inc. 196,516 1,708
^,* Fortress Biotech Inc. 371,941 1,692
^,* Odonate Therapeutics Inc. 78,892 1,671
* XOMA Corp. 82,588 1,671
* AAC Holdings Inc. 144,479 1,659
^,* Calyxt Inc. 126,318 1,657
^,* Synlogic Inc. 176,364 1,654
* Aldeyra Therapeutics Inc. 220,568 1,654
  Psychemedics Corp. 78,603 1,626
* Corvus Pharmaceuticals Inc. 140,946 1,625
* Arsanis Inc. 70,033 1,603
* ArQule Inc. 539,913 1,555
* Pfenex Inc. 256,314 1,538
^,* Anavex Life Sciences Corp. 548,320 1,513
^,* XBiotech Inc. 281,582 1,506
^,* NantKwest Inc. 383,561 1,492
* SeaSpine Holdings Corp. 145,386 1,474
* Veracyte Inc. 260,199 1,447
^,* Corindus Vascular Robotics Inc. 1,048,935 1,437
* Tocagen Inc. 120,296 1,426
^,* Organovo Holdings Inc. 1,379,869 1,421
* Otonomy Inc. 335,261 1,408
* Merrimack Pharmaceuticals Inc. 174,029 1,401

 

 

^,* Adamis Pharmaceuticals Corp. 397,038 1,390
^,* Proteostasis Therapeutics Inc. 290,055 1,378
^,* Senseonics Holdings Inc. 458,481 1,375
^,* CASI Pharmaceuticals Inc. 328,177 1,368
* Immune Design Corp. 414,690 1,368
* Juniper Pharmaceuticals Inc. 134,055 1,361
* Protagonist Therapeutics Inc. 158,252 1,359
* Infinity Pharmaceuticals Inc. 646,640 1,358
^,* PolarityTE Inc. 73,878 1,339
^,* ChromaDex Corp. 318,325 1,337
* Trevena Inc. 808,429 1,326
* Kala Pharmaceuticals Inc. 83,522 1,322
* Marinus Pharmaceuticals Inc. 340,950 1,302
^,* GTx Inc. 73,091 1,297
* Chembio Diagnostics Inc. 157,238 1,258
^,* Viveve Medical Inc. 342,215 1,253
^,* Selecta Biosciences Inc. 120,581 1,229
^,* HTG Molecular Diagnostics Inc. 331,913 1,202
* Advaxis Inc. 670,393 1,133
* Curis Inc. 1,714,062 1,120
* MEI Pharma Inc. 534,061 1,106
* ADMA Biologics Inc. 232,975 1,072
* OncoSec Medical Inc. 565,325 1,063
^,* AcelRx Pharmaceuticals Inc. 491,609 1,032
* Mersana Therapeutics Inc. 63,196 997
^,* Riot Blockchain Inc. 148,249 981
* Sunesis Pharmaceuticals Inc. 356,535 970
^,* Ekso Bionics Holdings Inc. 611,121 966
^,* Invuity Inc. 250,228 963
^,* Pulse Biosciences Inc. 70,686 956
^,* Quanterix Corp. 54,214 924
* OncoMed Pharmaceuticals Inc. 287,555 914
* Bovie Medical Corp. 305,708 908
* Ra Pharmaceuticals Inc. 167,645 890
^,* KemPharm Inc. 110,773 875
* Cue Biopharma Inc. 61,799 868
^,* iRadimed Corp. 61,365 865
* ContraFect Corp. 542,896 863
* ConforMIS Inc. 590,354 856
* Aeglea BioTherapeutics Inc. 85,692 850
* scPharmaceuticals Inc. 68,458 849
^,* Sienna Biopharmaceuticals Inc. 43,817 823
* Applied Genetic Technologies Corp. 207,936 801
* Gemphire Therapeutics Inc. 122,356 797
* Eiger BioPharmaceuticals Inc. 78,360 772
^,* Genocea Biosciences Inc. 729,770 766
* Aptevo Therapeutics Inc. 231,245 756
^,* ITUS Corp. 195,984 753
^,* BrainStorm Cell Therapeutics Inc. 238,368 751
^,* Novan Inc. 255,311 748
* IRIDEX Corp. 129,987 744
* Cogentix Medical Inc. 190,975 735
^,* SCYNEXIS Inc. 529,497 710
^,* Matinas BioPharma Holdings Inc. 914,352 699
* Ophthotech Corp. 253,089 693
^,* VolitionRX Ltd. 288,352 692
* Solid Biosciences Inc. 90,822 681

 

 

^,* Akers Biosciences Inc. 811,432 672
^,* Cerecor Inc. 154,592 663
* Sharps Compliance Corp. 144,455 656
* resTORbio Inc. 68,076 652
* Histogenics Corp. 232,341 639
^,* Second Sight Medical Products Inc. 327,947 630
* Agile Therapeutics Inc. 241,958 622
^,* Navidea Biopharmaceuticals Inc. 1,694,430 610
* Molecular Templates Inc. 75,441 604
^,* Obalon Therapeutics Inc. 173,018 593
* Unum Therapeutics Inc. 52,782 586
* OrthoPediatrics Corp. 37,882 571
  Digirad Corp. 363,958 564
* Cumberland Pharmaceuticals Inc. 83,401 557
* Evolus Inc. 61,556 556
* Bellerophon Therapeutics Inc. 266,693 555
* Flex Pharma Inc. 109,807 549
* Neurotrope Inc. 67,260 546
^,* Rexahn Pharmaceuticals Inc. 359,304 543
* Alimera Sciences Inc. 517,627 533
* InfuSystem Holdings Inc. 183,833 533
* Versartis Inc. 322,684 532
* Cidara Therapeutics Inc. 132,486 530
* Krystal Biotech Inc. 51,372 518
^,* pSivida Corp. 400,986 489
* Icad Inc. 157,862 486
^,* Asterias Biotherapeutics Inc. Class A 324,470 470
* aTyr Pharma Inc. 177,445 470
* Allena Pharmaceuticals Inc. 40,652 448
* Ovid therapeutics Inc. 62,172 440
* Axsome Therapeutics Inc. 179,114 439
* Bioxcel Therapeutics Inc. 42,321 433
^,* Synthetic Biologics Inc. 1,356,147 432
^ Pain Therapeutics Inc. 58,256 413
* Genesis Healthcare Inc. 271,822 410
^,* Capricor Therapeutics Inc. 294,197 400
* OvaScience Inc. 493,107 400
* Aevi Genomic Medicine Inc. 193,825 390
* Electromed Inc. 71,985 387
* vTv Therapeutics Inc. Class A 94,591 385
* Evoke Pharma Inc. 182,231 379
* Celcuity Inc. 22,798 376
^,* BioPharmX Corp. 1,593,880 368
^,* CytRx Corp. 228,930 364
^,* Opiant Pharmaceuticals Inc. 18,853 362
^,* Imprimis Pharmaceuticals Inc. 191,701 337
* Edge Therapeutics Inc. 280,776 331
* Misonix Inc. 33,310 330
* BioLife Solutions Inc. 63,177 323
^,* Celsion Corp. 143,289 321
^,* Lipocine Inc. 207,253 317
* Catabasis Pharmaceuticals Inc. 174,814 316
* NanoViricides Inc. 380,907 313
* Five Star Senior Living Inc. 235,990 307
^,* Medical Transcription Billing Corp. 89,380 298
* VIVUS Inc. 826,444 294
^,* Myomo Inc. 94,155 280

 

 

^,* Neuralstem Inc. 165,532 273
* Regulus Therapeutics Inc. 380,580 273
* KalVista Pharmaceuticals Inc. 28,676 272
^,* Actinium Pharmaceuticals Inc. 729,062 266
* Tracon Pharmaceuticals Inc. 113,188 260
^,* Alphatec Holdings Inc. 80,444 258
^,* IsoRay Inc. 605,894 255
^,* Sophiris Bio Inc. 117,715 237
^,* Aethlon Medical Inc. 197,510 235
* Acer Therapeutics Inc. 12,211 231
^,* CEL-SCI Corp. 161,528 228
^,* ReShape Lifesciences Inc. 156,464 227
^,* Moleculin Biotech Inc. 120,939 218
^,* Champions Oncology Inc. 59,932 217
^,* Pernix Therapeutics Holdings Inc. 90,003 215
^,* Interpace Diagnostics Group Inc. 241,321 213
^,* Cancer Genetics Inc. 124,428 205
* Proteon Therapeutics Inc. 81,784 204
* Sonoma Pharmaceuticals Inc. 55,476 204
* Biolase Inc. 486,865 198
* Tonix Pharmaceuticals Holding Corp. 67,219 198
^,* Restoration Robotics Inc. 31,449 196
^,* MabVax Therapeutics Holdings Inc. 126,592 191
* Vermillion Inc. 139,380 190
^,* iBio Inc. 867,322 187
* Vical Inc. 127,851 185
^,* Atossa Genetics Inc. 406,368 181
* Bioanalytical Systems Inc. 111,396 178
^,* ContraVir Pharmaceuticals Inc. 772,282 178
* Spero Therapeutics Inc. 12,391 177
^,* Egalet Corp. 266,521 168
^,* Cellectar Biosciences Inc. 147,078 167
^,* Onconova Therapeutics Inc. 199,098 166
^,* Eleven Biotherapeutics Inc. 156,153 164
^,* VistaGen Therapeutics Inc. 175,145 163
* Arcus Biosciences Inc. 10,261 158
^,* Diffusion Pharmaceuticals Inc. 289,544 158
* Alpine Immune Sciences Inc. 18,998 152
^,* Aradigm Corp. 120,486 147
^,* Cyclacel Pharmaceuticals Inc. 106,172 143
* Presbia plc 54,190 138
  Vaxart Inc. 26,664 135
^,* Zosano Pharma Corp. 25,640 129
^,* Xtant Medical Holdings Inc. 15,784 125
  Kewaunee Scientific Corp. 3,595 122
^,* Biocept Inc. 414,129 122
^,* AquaBounty Technologies Inc. 41,107 121
* Leap Therapeutics Inc. 14,400 120
^,* Cesca Therapeutics Inc. 58,940 119
* Aileron Therapeutics Inc. 14,573 118
^,* Ohr Pharmaceutical Inc. 531,931 117
^,* Soligenix Inc. 57,957 113
* Retractable Technologies Inc. 109,240 113
^,* Jaguar Health Inc. 566,096 110
^,* Precision Therapeutics Inc. 99,825 110
* CAS Medical Systems Inc. 86,629 109
^,* Catasys Inc. 22,413 108

 

 

^,* AmpliPhi Biosciences Corp. 98,353 107
* Joint Corp. 15,621 107
^ Altimmune Inc. 90,953 106
^,* PAVmed Inc. 61,865 101
* Bio-Path Holdings Inc. 49,543 99
* Chiasma Inc. 58,188 87
  Daxor Corp. 8,705 83
^,* InVivo Therapeutics Holdings Corp. 153,644 82
* Alliqua BioMedical Inc. 41,300 80
* SunLink Health Systems Inc. 57,952 79
* Caladrius Biosciences Inc. 12,546 73
^,* Trovagene Inc. 208,800 73
^,* Fulgent Genetics Inc. 18,060 72
^,* Apricus Biosciences Inc. 172,054 70
^,* CorMedix Inc. 385,305 70
* Wright Medical Group Inc. CVR 52,493 70
^,* OpGen Inc. 41,396 70
^,* Heat Biologics Inc. 42,526 69
^,* Fibrocell Science Inc. 116,014 68
^,* Tenax Therapeutics Inc. 12,200 67
^,* Pulmatrix Inc. 130,507 66
^,* Hemispherx Biopharma Inc. 163,300 65
^,* Oncocyte Corp. 29,972 63
^,* RXi Pharmaceuticals Corp. 18,297 59
  National Research Corp. Class B 1,200 58
^,* NovaBay Pharmaceuticals Inc. 15,439 53
* Apollo Endosurgery Inc. 8,596 53
* Avenue Therapeutics Inc. 11,161 50
* Homology Medicines 2,671 50
^,* Titan Pharmaceuticals Inc. 45,449 48
^,* Immune Pharmaceuticals Inc. 136,241 48
* Novus Therapeutics Inc. 9,852 47
  Diversicare Healthcare Services Inc. 6,253 47
^,* Regional Health Properties Inc. 126,822 47
^,* Anthera Pharmaceuticals Inc. 136,129 43
* Cleveland BioLabs Inc. 13,546 41
^,* Amedica Corp. 26,191 40
^,* Senestech Inc. 67,808 35
* Ligand Pharmaceuticals Inc. Rights Glucagon CVR 395,811 34
* Streamline Health Solutions Inc. 18,072 33
* Allied Healthcare Products Inc. 11,560 33
* ImmuCell Corp. 4,700 33
* Pro-Dex Inc. 4,785 33
^,* EyeGate Pharmaceuticals Inc. 73,949 28
* NanoVibronix Inc. 5,700 27
^,* TapImmune Inc. 7,694 26
^,* SELLAS Life Sciences Group Inc. 7,288 25
* CynergisTek Inc. 4,925 25
^,* Evofem Biosciences Inc. 3,757 24
^,* Soleno Therapeutics Inc. 12,682 23
^,* Ritter Pharmaceuticals Inc. 8,230 22
^,* Achieve Life Sciences Inc. 17,554 22
^,* ImmunoCellular Therapeutics Ltd. 79,224 20
^,* Dare Bioscience Inc. 23,535 20
^,* DarioHealth Corp. 12,299 19
^,* Strata Skin Sciences Inc. 16,012 18
^,* InspireMD Inc. 16,654 17

 

 

* PLx Pharma Inc. 5,114 17
* ARCA biopharma Inc. 34,180 17
^,* Oragenics Inc. 9,421 16
* American Shared Hospital Services 5,681 14
^,* Cytori Therapeutics Inc. 50,383 14
* Biomerica Inc. 3,160 13
* Citius Pharmaceuticals Inc. 4,000 12
* Xenetic Biosciences Inc. 5,425 12
* Oncobiologics Inc. 12,746 11
* Sensus Healthcare Inc. 1,738 10
* MYnd Analytics Inc. 7,265 9
* ProPhase Labs Inc. 2,349 7
* Micron Solutions Inc. 1,204 5
* Ligand Pharmaceuticals Inc. Rights Beta CVR 395,811 4
* Ligand Pharmaceuticals Inc. Rights Roche CVR 395,811 4
* Milestone Scientific Inc. 5,100 4
* AzurRx BioPharma Inc. 990 3
* Eyenovia Inc. 316 3
* Ligand Pharmaceuticals Inc. Rights General CVR 395,811 2
* Co-Diagnostics Inc. 559 1
* Valeritas Holdings Inc. 400 1
      7,093,041
Industrials (13.8%)    
* CoStar Group Inc. 468,264 169,830
  IDEX Corp. 993,012 141,514
* Copart Inc. 2,612,981 133,079
* XPO Logistics Inc. 1,290,593 131,395
  Old Dominion Freight Line Inc. 887,053 130,370
  Spirit AeroSystems Holdings Inc. Class A 1,487,423 124,497
  Owens Corning 1,442,545 115,981
* Sensata Technologies Holding plc 2,224,117 115,276
* TransUnion 1,940,269 110,169
  Graco Inc. 2,186,885 99,984
  Orbital ATK Inc. 748,161 99,214
  Lennox International Inc. 485,320 99,185
  ManpowerGroup Inc. 853,674 98,258
  KAR Auction Services Inc. 1,745,412 94,601
* HD Supply Holdings Inc. 2,410,691 91,462
  Wabtec Corp. 1,109,767 90,335
  Nordson Corp. 662,055 90,265
* Middleby Corp. 725,550 89,816
* WABCO Holdings Inc. 654,728 87,648
  Toro Co. 1,391,865 86,922
  Hubbell Inc. Class B 709,061 86,349
* Teledyne Technologies Inc. 460,059 86,109
* JetBlue Airways Corp. 4,166,148 84,656
  Carlisle Cos. Inc. 802,014 83,738
  BWX Technologies Inc. 1,288,887 81,883
  Curtiss-Wright Corp. 572,530 77,332
  Knight-Swift Transportation Holdings Inc. 1,664,842 76,599
  Donaldson Co. Inc. 1,674,940 75,456
  Hexcel Corp. 1,164,864 75,239
  Oshkosh Corp. 969,156 74,887
  Watsco Inc. 411,113 74,399
* AECOM 2,046,905 72,931
  Lincoln Electric Holdings Inc. 792,004 71,241
  Allison Transmission Holdings Inc. 1,736,895 67,843

 

 

Trinity Industries Inc. 1,958,379 63,902
Rollins Inc. 1,246,803 63,624
Crane Co. 652,944 60,554
Landstar System Inc. 545,396 59,803
EMCOR Group Inc. 758,796 59,133
* Genesee & Wyoming Inc. Class A 796,638 56,394
Dun & Bradstreet Corp. 476,216 55,717
ITT Inc. 1,128,405 55,269
AGCO Corp. 849,574 55,095
* Kirby Corp. 697,064 53,639
MSC Industrial Direct Co. Inc. Class A 581,104 53,293
Air Lease Corp. Class A 1,241,273 52,903
* On Assignment Inc. 635,262 52,015
Woodward Inc. 716,004 51,309
Ryder System Inc. 685,620 49,906
HEICO Corp. Class A 699,347 49,619
* KLX Inc. 663,867 47,174
Brink's Co. 656,684 46,854
* Beacon Roofing Supply Inc. 880,906 46,750
* USG Corp. 1,152,908 46,601
John Bean Technologies Corp. 410,178 46,514
Deluxe Corp. 620,410 45,917
* Dycom Industries Inc. 402,892 43,363
* Avis Budget Group Inc. 924,061 43,283
Valmont Industries Inc. 295,095 43,172
Kennametal Inc. 1,051,389 42,224
Regal Beloit Corp. 571,502 41,920
* Trex Co. Inc. 382,074 41,558
Healthcare Services Group Inc. 947,314 41,189
* Univar Inc. 1,481,060 41,099
* MasTec Inc. 866,574 40,772
* Colfax Corp. 1,268,092 40,452
Timken Co. 882,300 40,233
* SiteOne Landscape Supply Inc. 519,351 40,011
* Rexnord Corp. 1,347,582 39,996
* Armstrong World Industries Inc. 706,320 39,766
HEICO Corp. 454,903 39,490
* RBC Bearings Inc. 315,900 39,235
Barnes Group Inc. 637,299 38,168
Terex Corp. 1,019,538 38,141
Macquarie Infrastructure Corp. 1,029,618 38,024
* Proto Labs Inc. 323,321 38,006
Korn/Ferry International 735,146 37,926
EnerSys 544,505 37,772
Hillenbrand Inc. 818,836 37,585
* WESCO International Inc. 605,405 37,565
* Generac Holdings Inc. 807,406 37,068
Applied Industrial Technologies Inc. 503,892 36,734
SkyWest Inc. 672,217 36,569
MSA Safety Inc. 437,803 36,443
Tetra Tech Inc. 723,121 35,397
* Welbilt Inc. 1,813,199 35,267
* Moog Inc. Class A 421,004 34,695
* Spirit Airlines Inc. 897,097 33,892
GATX Corp. 493,189 33,779
Insperity Inc. 479,516 33,350
UniFirst Corp. 204,463 33,051

 

 

* Clean Harbors Inc. 669,915 32,699
  Simpson Manufacturing Co. Inc. 541,065 31,160
* Mercury Systems Inc. 626,581 30,276
  AMERCO 86,567 29,874
  KBR Inc. 1,823,925 29,529
* Navistar International Corp. 842,515 29,463
* Builders FirstSource Inc. 1,460,462 28,976
  Granite Construction Inc. 518,313 28,953
  ABM Industries Inc. 853,823 28,586
* Gardner Denver Holdings Inc. 916,366 28,114
  Allegiant Travel Co. Class A 162,800 28,091
  Watts Water Technologies Inc. Class A 361,034 28,052
* Aerojet Rocketdyne Holdings Inc. 975,326 27,280
* SPX FLOW Inc. 552,334 27,169
^,* Axon Enterprise Inc. 688,346 27,059
* JELD-WEN Holding Inc. 876,477 26,838
  Exponent Inc. 338,981 26,661
  Hawaiian Holdings Inc. 683,224 26,441
  Pitney Bowes Inc. 2,406,139 26,203
  Universal Forest Products Inc. 796,483 25,846
* Saia Inc. 334,021 25,102
  Mobile Mini Inc. 576,676 25,085
* Esterline Technologies Corp. 340,041 24,874
  Herman Miller Inc. 776,422 24,807
  Covanta Holding Corp. 1,701,619 24,674
* TriNet Group Inc. 531,903 24,638
  Albany International Corp. 381,325 23,909
* Herc Holdings Inc. 367,725 23,884
* Meritor Inc. 1,156,310 23,774
* Chart Industries Inc. 401,958 23,728
* FTI Consulting Inc. 487,122 23,582
  Brady Corp. Class A 628,632 23,354
* WageWorks Inc. 515,303 23,292
* Masonite International Corp. 369,574 22,673
  Kaman Corp. 364,562 22,647
  Mueller Water Products Inc. Class A 2,048,462 22,267
* Harsco Corp. 1,045,037 21,580
* Hertz Global Holdings Inc. 1,086,092 21,559
  EnPro Industries Inc. 277,530 21,475
  Werner Enterprises Inc. 584,765 21,344
  Matthews International Corp. Class A 413,465 20,921
  Forward Air Corp. 393,790 20,816
  Cubic Corp. 325,588 20,707
  Franklin Electric Co. Inc. 504,172 20,545
  AAON Inc. 525,713 20,503
  HNI Corp. 560,761 20,238
* MRC Global Inc. 1,229,535 20,214
  ESCO Technologies Inc. 344,789 20,187
  Comfort Systems USA Inc. 484,493 19,985
  Sun Hydraulics Corp. 372,685 19,961
  Interface Inc. Class A 791,426 19,944
* Atlas Air Worldwide Holdings Inc. 328,570 19,862
  Mueller Industries Inc. 749,568 19,609
* Patrick Industries Inc. 314,264 19,437
  General Cable Corp. 652,443 19,312
  Chicago Bridge & Iron Co. NV 1,326,191 19,097
  Greenbrier Cos. Inc. 370,311 18,608

 

 

AAR Corp. 420,362 18,542
Triton International Ltd. 603,926 18,480
* Hub Group Inc. Class A 438,494 18,351
* Rush Enterprises Inc. Class A 429,516 18,250
Actuant Corp. Class A 781,553 18,171
* American Woodmark Corp. 184,317 18,146
* SPX Corp. 556,982 18,091
ACCO Brands Corp. 1,418,646 17,804
Federal Signal Corp. 805,205 17,731
Altra Industrial Motion Corp. 382,217 17,563
McGrath RentCorp 313,117 16,811
Raven Industries Inc. 465,052 16,300
Triumph Group Inc. 645,128 16,257
Apogee Enterprises Inc. 370,184 16,048
Standex International Corp. 167,856 16,005
Matson Inc. 551,222 15,787
US Ecology Inc. 295,839 15,768
Tennant Co. 232,904 15,768
H&E Equipment Services Inc. 408,016 15,705
* TriMas Corp. 595,817 15,640
* Evoqua Water Technologies Corp. 734,383 15,635
Wabash National Corp. 749,861 15,605
Encore Wire Corp. 271,553 15,397
* BMC Stock Holdings Inc. 787,429 15,394
Steelcase Inc. Class A 1,117,004 15,191
ICF International Inc. 254,291 14,863
AZZ Inc. 338,678 14,800
Aircastle Ltd. 720,082 14,301
* NOW Inc. 1,387,618 14,181
Viad Corp. 268,349 14,075
* Gibraltar Industries Inc. 413,439 13,995
* Air Transport Services Group Inc. 599,462 13,979
* Continental Building Products Inc. 487,968 13,932
* TrueBlue Inc. 535,514 13,870
Astec Industries Inc. 249,877 13,788
Alamo Group Inc. 125,169 13,756
Advanced Drainage Systems Inc. 526,903 13,647
* Advanced Disposal Services Inc. 610,260 13,597
Kadant Inc. 143,634 13,573
Knoll Inc. 663,905 13,404
* Milacron Holdings Corp. 654,618 13,184
* CBIZ Inc. 715,733 13,062
Primoris Services Corp. 521,759 13,034
Manitowoc Co. Inc. 455,765 12,971
Douglas Dynamics Inc. 294,620 12,772
Lindsay Corp. 139,248 12,733
* GMS Inc. 412,262 12,599
* Aerovironment Inc. 276,608 12,588
Marten Transport Ltd. 530,813 12,103
* PGT Innovations Inc. 647,110 12,069
Briggs & Stratton Corp. 561,374 12,019
Multi-Color Corp. 180,236 11,905
Heartland Express Inc. 652,755 11,743
* Navigant Consulting Inc. 606,039 11,660
Kelly Services Inc. Class A 397,898 11,555
* Casella Waste Systems Inc. Class A 492,624 11,518
ADT Inc. 1,434,117 11,373

 

 

* Tutor Perini Corp. 514,804 11,351
* Kratos Defense & Security Solutions Inc. 1,101,160 11,331
* Lydall Inc. 226,856 10,946
* Huron Consulting Group Inc. 287,107 10,939
  ArcBest Corp. 335,182 10,743
* SP Plus Corp. 294,988 10,502
* Aegion Corp. Class A 450,104 10,312
  Schneider National Inc. Class B 391,395 10,200
  Quad/Graphics Inc. 399,425 10,125
* Thermon Group Holdings Inc. 448,008 10,040
* Atkore International Group Inc. 501,672 9,958
  Columbus McKinnon Corp. 267,806 9,598
  Global Brass & Copper Holdings Inc. 286,049 9,568
* Echo Global Logistics Inc. 342,784 9,461
* NCI Building Systems Inc. 532,438 9,424
* CSW Industrials Inc. 209,133 9,421
  CIRCOR International Inc. 214,334 9,144
* Wesco Aircraft Holdings Inc. 881,999 9,041
* Gates Industrial Corp. plc 501,268 8,777
  Hyster-Yale Materials Handling Inc. 124,696 8,720
  NN Inc. 360,799 8,659
* Astronics Corp. 226,249 8,439
  Kimball International Inc. Class B 488,476 8,324
  Heidrick & Struggles International Inc. 264,944 8,280
* Nexeo Solutions Inc. 773,785 8,280
  Kforce Inc. 305,085 8,253
  Argan Inc. 190,250 8,171
  Titan International Inc. 646,437 8,152
* DXP Enterprises Inc. 206,815 8,055
  Quanex Building Products Corp. 457,959 7,969
  LSC Communications Inc. 454,354 7,929
  Barrett Business Services Inc. 94,999 7,874
  RR Donnelley & Sons Co. 892,732 7,794
^,* Sunrun Inc. 866,977 7,742
  REV Group Inc. 361,176 7,498
  Spartan Motors Inc. 430,033 7,397
  Gorman-Rupp Co. 250,229 7,319
  Griffon Corp. 396,736 7,240
  RPX Corp. 648,825 6,936
  Insteel Industries Inc. 247,219 6,831
* MYR Group Inc. 215,650 6,646
  Ennis Inc. 334,633 6,592
  Resources Connection Inc. 388,567 6,295
  Forrester Research Inc. 151,814 6,293
* Ply Gem Holdings Inc. 287,436 6,209
* Daseke Inc. 633,125 6,198
  National Presto Industries Inc. 65,812 6,170
* Vicor Corp. 212,277 6,061
* NV5 Global Inc. 107,287 5,981
* Titan Machinery Inc. 252,606 5,951
  VSE Corp. 112,434 5,815
* Veritiv Corp. 145,245 5,694
* Engility Holdings Inc. 230,616 5,627
^,* Plug Power Inc. 2,972,635 5,618
* InnerWorkings Inc. 604,008 5,466
* Vectrus Inc. 144,625 5,386
^,* Team Inc. 389,595 5,357

 

 

  CRA International Inc. 101,810 5,324
^,* KeyW Holding Corp. 653,518 5,137
* GP Strategies Corp. 220,007 4,983
  DMC Global Inc. 183,030 4,896
* Covenant Transportation Group Inc. Class A 163,770 4,885
  Omega Flex Inc. 70,226 4,572
  Park-Ohio Holdings Corp. 115,764 4,497
* Heritage-Crystal Clean Inc. 187,827 4,423
* CAI International Inc. 207,679 4,415
* Franklin Covey Co. 161,040 4,332
* Great Lakes Dredge & Dock Corp. 937,464 4,312
* Mistras Group Inc. 222,993 4,224
^,* Energous Corp. 261,329 4,189
* Ducommun Inc. 135,366 4,112
^,* Energy Recovery Inc. 495,836 4,076
* TPI Composites Inc. 173,238 3,889
* Layne Christensen Co. 260,469 3,886
  Essendant Inc. 496,799 3,875
* YRC Worldwide Inc. 437,523 3,863
* Sterling Construction Co. Inc. 336,641 3,858
* Armstrong Flooring Inc. 279,816 3,797
^,* Enphase Energy Inc. 812,094 3,711
  Miller Industries Inc. 146,871 3,672
  Allied Motion Technologies Inc. 92,162 3,663
  American Railcar Industries Inc. 96,395 3,606
  Hurco Cos. Inc. 78,322 3,595
  Powell Industries Inc. 130,649 3,507
* BlueLinx Holdings Inc. 102,972 3,356
* Blue Bird Corp. 135,179 3,204
* Hill International Inc. 532,989 3,038
* LB Foster Co. Class A 126,452 2,978
  Hardinge Inc. 161,631 2,961
* Ameresco Inc. Class A 222,013 2,886
* USA Truck Inc. 111,980 2,854
  LSI Industries Inc. 345,014 2,798
* Willdan Group Inc. 97,525 2,765
* Commercial Vehicle Group Inc. 348,222 2,699
* Foundation Building Materials Inc. 171,418 2,556
* HC2 Holdings Inc. 485,439 2,553
* Northwest Pipe Co. 147,579 2,553
* Orion Group Holdings Inc. 386,307 2,546
^,* Babcock & Wilcox Enterprises Inc. 568,275 2,483
* Willis Lease Finance Corp. 71,622 2,455
* Twin Disc Inc. 112,035 2,436
  FreightCar America Inc. 181,254 2,429
* Hudson Technologies Inc. 491,591 2,428
  Eastern Co. 83,719 2,386
  Graham Corp. 110,830 2,374
* Sparton Corp. 131,188 2,284
* Acacia Research Corp. 639,331 2,238
  Preformed Line Products Co. 33,163 2,159
  Universal Logistics Holdings Inc. 98,085 2,075
* Lawson Products Inc. 81,461 2,057
  BG Staffing Inc. 98,540 1,871
* Gencor Industries Inc. 115,798 1,864
^,* FuelCell Energy Inc. 1,059,119 1,832
* Manitex International Inc. 159,527 1,823

 

 

* Astronics Corp. Class B 47,596 1,760
* Rush Enterprises Inc. Class B 42,494 1,716
* Radiant Logistics Inc. 437,565 1,693
* IES Holdings Inc. 106,561 1,614
  CECO Environmental Corp. 352,464 1,568
* Genco Shipping & Trading Ltd. 110,129 1,566
^ Celadon Group Inc. 385,754 1,427
* American Superconductor Corp. 225,391 1,312
* Huttig Building Products Inc. 247,746 1,296
* CPI Aerostructures Inc. 132,862 1,295
^,* Vivint Solar Inc. 334,324 1,220
* Goldfield Corp. 302,912 1,166
* Houston Wire & Cable Co. 152,813 1,119
* ARC Document Solutions Inc. 500,198 1,100
* NL Industries Inc. 135,037 1,060
* Performant Financial Corp. 347,367 1,042
^ EnviroStar Inc. 26,550 1,042
* PAM Transportation Services Inc. 28,439 1,034
* Roadrunner Transportation Systems Inc. 395,086 1,004
^,* ExOne Co. 135,359 985
* Arotech Corp. 307,745 939
* Ultralife Corp. 84,213 842
^,* Capstone Turbine Corp. 731,933 838
* Xerium Technologies Inc. 128,960 832
^,* Aqua Metals Inc. 300,530 778
^,* Tecogen Inc. 235,717 674
* General Finance Corp. 86,772 629
* Perma-Pipe International Holdings Inc. 63,262 573
* Transcat Inc. 36,371 569
* Alpha Pro Tech Ltd. 166,676 558
^,* Revolution Lighting Technologies Inc. 155,643 534
  RCM Technologies Inc. 90,641 523
^,* Odyssey Marine Exploration Inc. 63,017 521
  Ecology and Environment Inc. 40,958 475
* Innovative Solutions & Support Inc. 110,868 391
* Taylor Devices Inc. 36,095 390
^,* Red Violet Inc. 62,793 383
* Mastech Digital Inc. 29,867 369
* Perma-Fix Environmental Services 86,190 358
* Jewett-Cameron Trading Co. Ltd. 23,764 347
* Jason Industries Inc. 105,271 327
* Broadwind Energy Inc. 137,005 301
* Volt Information Sciences Inc. 98,365 300
^,* Lightbridge Corp. 242,283 283
* Patriot Transportation Holding Inc. 13,915 258
  Acme United Corp. 12,007 250
  LS Starrett Co. Class A 34,285 231
* Hudson Global Inc. 116,216 225
* Air T Inc. 8,896 222
^,* Intersections Inc. 136,189 222
^,* Sunworks Inc. 219,815 209
^,* Cemtrex Inc. 72,541 207
* Fuel Tech Inc. 169,040 203
  Servotronics Inc. 19,902 197
* SIFCO Industries Inc. 33,067 183
* Energy Focus Inc. 63,455 161
^,* Astrotech Corp. 58,922 156

 

 

^,* DPW Holdings Inc. 193,485 155
* Pangaea Logistics Solutions Ltd. 57,743 153
* Air Industries Group 94,098 145
* Orion Energy Systems Inc. 158,091 134
* Limbach Holdings Inc. 10,749 133
^,* Polar Power Inc. 26,498 131
* DLH Holdings Corp. 20,750 121
^,* Ocean Power Technologies Inc. 104,060 111
* Pioneer Power Solutions Inc. 17,498 111
^,* Ideal Power Inc. 95,702 109
^,* Real Goods Solar Inc. Class A 109,768 107
* Industrial Services of America Inc. 43,054 106
^,* Spherix Inc. 85,938 103
^,* ShiftPixy Inc. 34,827 99
  Chicago Rivet & Machine Co. 2,905 91
^,* EnSync Inc. 211,783 80
* ASV Holdings Inc. 9,120 66
^,* Marathon Patent Group Inc. 55,821 63
* SG Blocks Inc. 11,720 54
^,* Meridian Waste Solutions Inc. 82,465 47
^,* Sigma Labs Inc. 31,339 45
* American Electric Technologies Inc. 39,960 44
^,* GEE Group Inc. 16,165 43
* AMREP Corp. 5,318 38
^,* Micronet Enertec Technologies Inc. 20,450 26
* Continental Materials Corp. 1,122 22
^,* LiqTech International Inc. 39,141 19
  Virco Manufacturing Corp. 4,644 19
* WSI Industries Inc. 3,699 18
  Espey Manufacturing & Electronics Corp. 666 17
* Command Security Corp. 5,565 17
^,* Staffing 360 Solutions Inc. 7,273 17
  CompX International Inc. 957 13
* Art's-Way Manufacturing Co. Inc. 4,243 10
* ARC Group Worldwide Inc. 4,535 9
* Quest Resource Holding Corp. 3,589 8
^,* Tel-Instrument Electronics Corp. 3,304 8
* Hebron Technology Co. Ltd. Class A 1,116 2
*,2 CIL&D LLC 36,800 —
      8,710,509
Information Technology (19.4%)    
* ServiceNow Inc. 2,239,894 370,590
* Worldpay Inc. Class A 3,850,206 316,641
* Twitter Inc. 8,379,538 243,090
* FleetCor Technologies Inc. 1,164,489 235,809
* Workday Inc. Class A 1,773,957 225,488
  Maxim Integrated Products Inc. 3,646,809 219,611
* Palo Alto Networks Inc. 1,194,671 216,857
* Dell Technologies Inc. Class V 2,585,420 189,279
* Square Inc. 3,683,630 181,235
* Splunk Inc. 1,831,932 180,244
  Broadridge Financial Solutions Inc. 1,513,303 165,994
* Arista Networks Inc. 612,450 156,358
* IAC/InterActiveCorp 988,373 154,562
  CDW Corp. 1,985,212 139,580
* ON Semiconductor Corp. 5,503,917 134,626
* Keysight Technologies Inc. 2,456,287 128,685

 

 

Jack Henry & Associates Inc. 1,000,207 120,975
Leidos Holdings Inc. 1,845,357 120,686
SS&C Technologies Holdings Inc. 2,243,949 120,365
Marvell Technology Group Ltd. 5,584,188 117,268
* PTC Inc. 1,503,170 117,262
Cognex Corp. 2,251,150 117,037
* Trimble Inc. 3,254,240 116,762
Teradyne Inc. 2,535,129 115,881
* GrubHub Inc. 1,128,608 114,520
* VMware Inc. Class A 882,873 107,066
CDK Global Inc. 1,641,591 103,978
* Fortinet Inc. 1,906,632 102,157
* CommScope Holding Co. Inc. 2,505,471 100,144
* Microsemi Corp. 1,523,889 98,626
* Zebra Technologies Corp. 690,657 96,133
* Tyler Technologies Inc. 454,464 95,874
* First Data Corp. Class A 5,736,193 91,779
* Ultimate Software Group Inc. 375,532 91,517
* Arrow Electronics Inc. 1,138,943 87,721
* GoDaddy Inc. Class A 1,416,550 87,004
* Guidewire Software Inc. 1,033,460 83,535
MKS Instruments Inc. 706,854 81,748
* WEX Inc. 518,387 81,190
LogMeIn Inc. 680,320 78,611
Cypress Semiconductor Corp. 4,585,146 77,764
* Zillow Group Inc. 1,408,362 75,770
* First Solar Inc. 1,056,851 75,015
* EPAM Systems Inc. 649,977 74,435
* Proofpoint Inc. 653,327 74,251
* Aspen Technology Inc. 934,284 73,706
Booz Allen Hamilton Holding Corp. Class A 1,882,595 72,894
* Cavium Inc. 901,420 71,555
* Tableau Software Inc. Class A 881,714 71,260
National Instruments Corp. 1,396,644 70,628
* Black Knight Inc. 1,434,627 67,571
Littelfuse Inc. 322,242 67,084
* Paycom Software Inc. 615,460 66,094
* Fair Isaac Corp. 389,153 65,911
Jabil Inc. 2,277,031 65,419
Avnet Inc. 1,556,492 64,999
DST Systems Inc. 776,201 64,929
Entegris Inc. 1,832,036 63,755
Blackbaud Inc. 624,148 63,544
Genpact Ltd. 1,978,014 63,277
* Zendesk Inc. 1,317,342 63,061
Sabre Corp. 2,927,240 62,789
* Teradata Corp. 1,576,740 62,549
* ARRIS International plc 2,269,319 60,296
* Coherent Inc. 321,352 60,221
Monolithic Power Systems Inc. 498,262 57,684
* 2U Inc. 677,831 56,958
MAXIMUS Inc. 844,450 56,359
* Nuance Communications Inc. 3,489,702 54,963
Universal Display Corp. 543,020 54,845
* Euronet Worldwide Inc. 682,390 53,854
* RingCentral Inc. Class A 842,641 53,508
Versum Materials Inc. 1,414,142 53,214

 

 

* Integrated Device Technology Inc. 1,717,470 52,486
* Lumentum Holdings Inc. 808,659 51,592
* Cree Inc. 1,273,005 51,315
  j2 Global Inc. 632,663 49,930
* Silicon Laboratories Inc. 555,175 49,910
  Dolby Laboratories Inc. Class A 783,644 49,808
* HubSpot Inc. 455,196 49,298
^,* Snap Inc. 3,105,503 49,284
* NCR Corp. 1,553,196 48,957
* CACI International Inc. Class A 319,658 48,380
* Ciena Corp. 1,865,729 48,322
* CoreLogic Inc. 1,058,944 47,896
* Conduent Inc. 2,566,402 47,838
^,* ViaSat Inc. 706,993 46,464
  SYNNEX Corp. 377,888 44,742
  Science Applications International Corp. 555,603 43,781
* Stamps.com Inc. 211,701 42,562
* Nutanix Inc. 856,132 42,045
* Yelp Inc. Class A 988,531 41,271
* New Relic Inc. 552,199 40,929
* Ellie Mae Inc. 444,642 40,880
* Etsy Inc. 1,437,358 40,332
* RealPage Inc. 764,347 39,364
* FireEye Inc. 2,273,945 38,498
* Tech Data Corp. 450,353 38,339
  Belden Inc. 544,755 37,555
* Zynga Inc. Class A 10,160,163 37,186
* Manhattan Associates Inc. 882,561 36,962
* ACI Worldwide Inc. 1,521,773 36,096
  Cabot Microelectronics Corp. 331,194 35,474
* Verint Systems Inc. 828,075 35,276
^,* Match Group Inc. 771,080 34,267
* Twilio Inc. Class A 893,463 34,112
* Semtech Corp. 862,077 33,664
* Cirrus Logic Inc. 821,953 33,396
* EchoStar Corp. Class A 632,293 33,366
  InterDigital Inc. 450,282 33,141
* Envestnet Inc. 575,678 32,986
* Advanced Energy Industries Inc. 514,644 32,886
* Blackhawk Network Holdings Inc. 725,031 32,409
* Box Inc. 1,564,363 32,148
  Vishay Intertechnology Inc. 1,706,961 31,749
* Itron Inc. 443,594 31,739
* CommVault Systems Inc. 552,011 31,575
* Zillow Group Inc. Class A 571,708 30,872
* Qualys Inc. 417,571 30,378
* NetScout Systems Inc. 1,134,393 29,891
* Pure Storage Inc. Class A 1,464,233 29,211
* II-VI Inc. 713,707 29,191
* Viavi Solutions Inc. 2,966,984 28,839
  Pegasystems Inc. 474,835 28,799
* Anixter International Inc. 376,285 28,504
* Rogers Corp. 237,754 28,421
  Convergys Corp. 1,191,294 26,947
  Travelport Worldwide Ltd. 1,630,539 26,643
* Cornerstone OnDemand Inc. 678,841 26,549
* Plexus Corp. 444,353 26,541

 

 

  Power Integrations Inc. 387,571 26,490
* MuleSoft Inc. Class A 602,299 26,489
* Cars.com Inc. 927,032 26,263
  Plantronics Inc. 431,557 26,053
* Avaya Holdings Corp. 1,349,670 30,233
* ExlService Holdings Inc. 445,272 24,833
  Brooks Automation Inc. 915,466 24,791
* SolarEdge Technologies Inc. 468,902 24,664
* Sanmina Corp. 926,142 24,219
* GTT Communications Inc. 422,510 23,956
  Progress Software Corp. 609,655 23,441
^,* Finisar Corp. 1,480,045 23,399
* Acxiom Corp. 1,028,882 23,366
* NETGEAR Inc. 407,933 23,334
* Kulicke & Soffa Industries Inc. 918,021 22,960
* Cloudera Inc. 1,060,172 22,878
* 8x8 Inc. 1,197,142 22,327
* VeriFone Systems Inc. 1,435,224 22,074
* Novanta Inc. 418,019 21,800
  TiVo Corp. 1,594,051 21,599
  Ebix Inc. 286,500 21,344
* Infinera Corp. 1,940,973 21,079
* Oclaro Inc. 2,199,866 21,031
* Okta Inc. 525,863 20,956
* Five9 Inc. 687,090 20,468
* Synaptics Inc. 446,360 20,412
^,* Ubiquiti Networks Inc. 292,595 20,131
* Q2 Holdings Inc. 435,432 19,834
  CSG Systems International Inc. 435,768 19,736
  Benchmark Electronics Inc. 657,757 19,634
* Blackline Inc. 494,850 19,403
* Rambus Inc. 1,429,667 19,200
  ManTech International Corp. Class A 338,594 18,782
  Methode Electronics Inc. 479,734 18,758
* TTM Technologies Inc. 1,200,046 18,349
* Paylocity Holding Corp. 355,312 18,203
* MaxLinear Inc. 791,695 18,011
  Badger Meter Inc. 379,362 17,887
* Imperva Inc. 410,948 17,794
* Bottomline Technologies de Inc. 454,277 17,603
* Virtusa Corp. 355,598 17,232
^,* 3D Systems Corp. 1,475,062 17,096
* Amkor Technology Inc. 1,648,494 16,699
* Inphi Corp. 551,491 16,600
* Hortonworks Inc. 809,342 16,486
* Insight Enterprises Inc. 466,421 16,292
* Electronics For Imaging Inc. 594,418 16,245
^,* Pandora Media Inc. 3,225,944 16,226
* Extreme Networks Inc. 1,456,523 16,124
* Callidus Software Inc. 443,841 15,956
* Coupa Software Inc. 347,542 15,855
* MicroStrategy Inc. Class A 122,800 15,840
^,* Casa Systems Inc. 608,950 17,867
* Varonis Systems Inc. 257,505 15,579
* Instructure Inc. 369,194 15,562
* Fabrinet 484,796 15,213
* OSI Systems Inc. 232,749 15,192

 

 

* Diodes Inc. 498,576 15,187
  Diebold Nixdorf Inc. 981,870 15,121
* Sykes Enterprises Inc. 520,623 15,067
* Blucora Inc. 598,495 14,723
* Knowles Corp. 1,165,587 14,675
* MINDBODY Inc. Class A 376,592 14,649
* SPS Commerce Inc. 224,746 14,399
* Trade Desk Inc. Class A 284,747 14,129
* ePlus Inc. 181,784 14,125
  Xperi Corp. 640,067 13,537
* Cardtronics plc Class A 596,079 13,299
* Syntel Inc. 506,463 12,930
* FormFactor Inc. 942,903 12,871
* Quotient Technology Inc. 978,886 12,823
  EVERTEC Inc. 781,649 12,780
* FARO Technologies Inc. 217,947 12,728
* PROS Holdings Inc. 384,689 12,699
  CTS Corp. 455,615 12,393
* Alarm.com Holdings Inc. 325,947 12,301
  Monotype Imaging Holdings Inc. 542,175 12,172
* Rudolph Technologies Inc. 433,269 12,002
  MTS Systems Corp. 232,222 11,994
* ScanSource Inc. 333,962 11,872
* LivePerson Inc. 712,090 11,643
* KEMET Corp. 641,038 11,622
^,* Fitbit Inc. Class A 2,276,424 11,610
* Shutterstock Inc. 239,621 11,538
* Web.com Group Inc. 636,040 11,512
  NIC Inc. 859,600 11,433
* Perficient Inc. 492,127 11,280
* Rapid7 Inc. 431,893 11,043
* Cray Inc. 527,001 10,909
* Veeco Instruments Inc. 627,475 10,667
* CalAmp Corp. 465,475 10,650
* Alteryx Inc. Class A 310,426 10,598
* CEVA Inc. 289,452 10,478
* Axcelis Technologies Inc. 411,333 10,119
  ADTRAN Inc. 632,909 9,842
  AVX Corp. 593,619 9,824
^,* Acacia Communications Inc. 250,746 9,644
* Ultra Clean Holdings Inc. 499,262 9,611
* TrueCar Inc. 1,005,523 9,512
^,* ANGI Homeservices Inc. Class A 687,648 9,338
  Comtech Telecommunications Corp. 308,004 9,206
* Nanometrics Inc. 341,789 9,194
* Lattice Semiconductor Corp. 1,607,377 8,953
^,* MACOM Technology Solutions Holdings Inc. 537,382 8,921
* CommerceHub Inc. 391,713 8,810
* Altair Engineering Inc. Class A 274,017 8,593
* ForeScout Technologies Inc. 263,951 8,563
  Cohu Inc. 374,862 8,551
* Electro Scientific Industries Inc. 438,315 8,473
* Super Micro Computer Inc. 497,489 8,457
* Xcerra Corp. 718,698 8,373
* Everbridge Inc. 224,473 8,216
* Carbonite Inc. 284,581 8,196
* Photronics Inc. 952,465 7,858

 

 

* Endurance International Group Holdings Inc. 1,053,461 7,796
  Cass Information Systems Inc. 130,374 7,759
^,* Unisys Corp. 714,446 7,680
* MongoDB Inc. 176,780 7,672
* Workiva Inc. 316,863 7,510
  Switch Inc. 470,442 7,485
* XO Group Inc. 358,736 7,444
^,* Benefitfocus Inc. 301,218 7,350
^,* Gogo Inc. 796,542 6,874
* Apptio Inc. Class A 241,622 6,848
  Mesa Laboratories Inc. 44,847 6,657
^,* Applied Optoelectronics Inc. 254,847 6,386
* Presidio Inc. 406,593 6,359
* Cision Ltd. 543,164 6,284
^,* SunPower Corp. Class A 773,874 6,175
* Synchronoss Technologies Inc. 568,898 6,002
* QuinStreet Inc. 468,540 5,983
* Everi Holdings Inc. 894,303 5,876
* Vishay Precision Group Inc. 187,371 5,837
  NVE Corp. 69,684 5,791
* Limelight Networks Inc. 1,408,900 5,791
* Ichor Holdings Ltd. 237,288 5,745
* VASCO Data Security International Inc. 443,517 5,744
* USA Technologies Inc. 637,158 5,734
  TTEC Holdings Inc. 186,541 5,727
* Kimball Electronics Inc. 350,424 5,659
* Appfolio Inc. 137,463 5,615
* Model N Inc. 309,894 5,594
* Control4 Corp. 259,522 5,575
  Hackett Group Inc. 344,301 5,529
* Glu Mobile Inc. 1,452,650 5,476
  QAD Inc. Class A 130,681 5,443
  Daktronics Inc. 586,666 5,169
^,* Cargurus Inc. 133,616 5,140
* TechTarget Inc. 257,285 5,115
  Systemax Inc. 178,251 5,089
* SailPoint Technologies Holding Inc. 245,628 5,082
  American Software Inc. Class A 367,580 4,779
* Harmonic Inc. 1,217,600 4,627
  PC Connection Inc. 183,833 4,596
* Immersion Corp. 381,302 4,557
* PDF Solutions Inc. 383,589 4,473
  Park Electrochemical Corp. 254,136 4,280
^,* Appian Corp. Class A 169,934 4,279
* Upland Software Inc. 146,303 4,212
* A10 Networks Inc. 711,182 4,139
* Alpha & Omega Semiconductor Ltd. 267,772 4,137
* DSP Group Inc. 341,924 4,035
* Calix Inc. 567,806 3,889
^,* Digimarc Corp. 156,940 3,759
* Digi International Inc. 357,159 3,679
* Quantenna Communications Inc. 268,487 3,678
* ServiceSource International Inc. 957,583 3,648
* SMART Global Holdings Inc. 72,269 3,602
* AXT Inc. 482,845 3,501
* MobileIron Inc. 702,846 3,479
* Brightcove Inc. 496,389 3,450

 

 

* Mitek Systems Inc. 454,185 3,361
* Care.com Inc. 203,527 3,311
* ChannelAdvisor Corp. 363,794 3,311
* MoneyGram International Inc. 383,279 3,304
* Zix Corp. 769,249 3,285
* Ribbon Communications Inc. 630,191 3,214
* Agilysys Inc. 265,886 3,169
* Sigma Designs Inc. 505,561 3,134
^,* Maxwell Technologies Inc. 527,417 3,128
* PRGX Global Inc. 330,687 3,125
^,* Impinj Inc. 239,964 3,124
* CommerceHub Inc. Class A 134,213 3,020
^,* NeoPhotonics Corp. 434,694 2,978
* SendGrid Inc. 104,415 2,938
^,* Kopin Corp. 927,578 2,894
  Reis Inc. 130,414 2,797
^,* Eastman Kodak Co. 508,532 2,721
* Rosetta Stone Inc. 195,684 2,573
^,* VirnetX Holding Corp. 643,592 2,542
  Bel Fuse Inc. Class B 132,235 2,499
* Telenav Inc. 450,688 2,434
* Avid Technology Inc. 491,427 2,231
* EMCORE Corp. 375,358 2,140
* KVH Industries Inc. 203,600 2,107
^,* CyberOptics Corp. 114,343 2,058
* Internap Corp. 186,768 2,054
* Meet Group Inc. 982,122 2,053
* Amber Road Inc. 217,020 1,931
* Yext Inc. 144,445 1,827
* Liquidity Services Inc. 278,383 1,809
* PFSweb Inc. 204,430 1,787
* Intevac Inc. 256,673 1,771
* Seachange International Inc. 642,852 1,742
* Information Services Group Inc. 416,590 1,741
* Iteris Inc. 348,243 1,727
* Bandwidth Inc. Class A 52,691 1,721
* IntriCon Corp. 85,191 1,704
^,* Asure Software Inc. 138,606 1,697
^,* Park City Group Inc. 193,649 1,694
* eGain Corp. 205,364 1,633
* Aerohive Networks Inc. 399,626 1,614
* SecureWorks Corp. Class A 198,492 1,604
* Telaria Inc. 425,517 1,600
* Quantum Corp. 431,944 1,572
* PAR Technology Corp. 111,490 1,571
* GSI Technology Inc. 210,060 1,557
  TransAct Technologies Inc. 118,987 1,553
* StarTek Inc. 158,460 1,550
* Computer Task Group Inc. 188,806 1,546
* Leaf Group Ltd. 212,303 1,497
* Pixelworks Inc. 381,988 1,478
^,* Aquantia Corp. 92,975 1,460
* Dropbox Inc. Class A 46,154 1,442
* Digital Turbine Inc. 694,396 1,396
* Napco Security Technologies Inc. 112,206 1,313
* Rubicon Project Inc. 722,472 1,300
* Clearfield Inc. 100,744 1,300

 

 

^,* QuickLogic Corp. 826,644 1,256
* PCM Inc. 148,743 1,235
* Amtech Systems Inc. 156,630 1,147
^,* MicroVision Inc. 1,009,401 1,141
  Steel Connect Inc. 529,960 1,123
^,* Veritone Inc. 77,399 1,077
* Adesto Technologies Corp. 145,311 1,075
* Key Tronic Corp. 153,764 1,070
^,* Remark Holdings Inc. 187,445 1,065
  AstroNova Inc. 66,674 1,033
^,* SITO Mobile Ltd. 247,815 996
* ID Systems Inc. 160,161 996
* Datawatch Corp. 114,436 990
* Data I/O Corp. 131,998 982
* DHI Group Inc. 586,326 938
* Cardlytics Inc. 63,890 935
* ShotSpotter Inc. 35,246 934
  Richardson Electronics Ltd. 116,609 927
  TESSCO Technologies Inc. 39,790 921
  Marchex Inc. Class B 316,655 864
^,* Everspin Technologies Inc. 111,146 839
^,* Akoustis Technologies Inc. 138,684 809
* BSQUARE Corp. 186,526 793
* Frequency Electronics Inc. 90,022 788
* RealNetworks Inc. 249,990 765
* Aware Inc. 183,320 761
* LRAD Corp. 321,683 740
* Inseego Corp. 398,493 709
^,* Airgain Inc. 91,073 705
  CSP Inc. 63,390 681
* Aviat Networks Inc. 40,131 673
* Edgewater Technology Inc. 119,437 663
* CVD Equipment Corp. 68,981 630
* CUI Global Inc. 236,048 614
* Atomera Inc. 97,445 608
^,* eMagin Corp. 416,604 604
  PC-Tel Inc. 83,587 600
* LightPath Technologies Inc. Class A 266,831 587
* GSE Systems Inc. 180,096 585
* Synacor Inc. 363,282 581
* Wireless Telecom Group Inc. 233,098 569
^,* NXT-ID Inc. 270,096 537
* Finjan Holdings Inc. 160,766 522
* Perceptron Inc. 60,402 516
^,* Helios & Matheson Analytics Inc. 181,595 514
* Travelzoo 69,649 505
* Identiv Inc. 122,876 460
* Evolving Systems Inc. 93,207 447
  ClearOne Inc. 55,605 442
  GlobalSCAPE Inc. 118,850 437
  QAD Inc. Class B 13,406 420
* WidePoint Corp. 702,924 408
* AutoWeb Inc. 134,988 402
^,* Mattersight Corp. 184,056 386
* inTEST Corp. 58,005 386
* LGL Group Inc. 63,393 354
* Luna Innovations Inc. 108,953 353

 

 

^,* ClearSign Combustion Corp. 173,255 351
* NetSol Technologies Inc. 74,673 343
^,* IZEA Inc. 92,728 339
^,* Resonant Inc. 100,264 320
* Aehr Test Systems 138,201 311
* DASAN Zhone Solutions Inc. 27,470 310
  Communications Systems Inc. 84,005 308
* IEC Electronics Corp. 65,681 295
* Optical Cable Corp. 101,490 294
* Zscaler Inc. 10,259 288
^,* Net Element Inc. 38,672 269
^,* Radisys Corp. 402,894 258
* Zedge Inc. Class B 78,380 251
* ACM Research Inc. Class A 20,328 250
  RF Industries Ltd. 53,921 248
* Lantronix Inc. 120,037 247
* Westell Technologies Inc. Class A 73,728 247
* iPass Inc. 646,153 246
  Network-1 Technologies Inc. 92,211 244
* Innodata Inc. 215,507 233
* Inuvo Inc. 234,420 215
* Qualstar Corp. 18,492 209
^,* Applied DNA Sciences Inc. 142,978 206
  Wayside Technology Group Inc. 15,658 204
* Image Sensing Systems Inc. 44,750 190
^,* Neonode Inc. 449,700 189
* Tintri Inc. 104,837 179
* Intellicheck Inc. 97,585 176
^,* Research Frontiers Inc. 168,960 165
^,* Ominto Inc. 56,486 162
  Black Box Corp. 78,306 157
  RELM Wireless Corp. 38,688 153
* CCUR Holdings Inc. 31,405 151
  TSR Inc. 23,470 148
  Bel Fuse Inc. Class A 8,959 148
^,* Digital Ally Inc. 55,989 146
* Qumu Corp. 80,502 142
^,* Document Security Systems Inc. 98,207 132
* Xplore Technologies Corp. 39,777 129
* Smith Micro Software Inc. 71,553 125
^,* xG Technology Inc. 114,444 119
^,* Netlist Inc. 499,471 115
* Technical Communications Corp. 20,218 106
* Marin Software Inc. 15,790 105
* ALJ Regional Holdings Inc. 49,773 105
* Majesco 19,508 99
^,* Superconductor Technologies Inc. 100,850 95
* BroadVision Inc. 33,951 92
  Issuer Direct Corp. 5,328 91
* SigmaTron International Inc. 15,358 89
^,* RMG Networks Holding Corp. 61,752 88
* Socket Mobile Inc. 26,348 85
^,* ParkerVision Inc. 102,387 82
* Intermolecular Inc. 59,935 78
* Schmitt Industries Inc. 25,476 69
* Sonic Foundry Inc. 27,757 61
* Echelon Corp. 13,060 60

 

 

^,* MoSys Inc. 48,581 58
^,* Professional Diversity Network Inc. 20,497 58
* MAM Software Group Inc. 6,191 48
^,* CPI Card Group Inc. 15,903 48
^,* Payment Data Systems Inc. 25,562 47
* Dynasil Corp. of America 33,699 44
* One Stop Systems Inc. 9,733 43
* SharpSpring Inc. 6,569 42
* RumbleON Inc. Class B 9,100 38
* Trio-Tech International 4,900 28
* JetPay Corp. 9,462 22
* Support.com Inc. 7,483 21
^,* Glowpoint Inc. 89,200 20
^,* Bridgeline Digital Inc. 8,748 18
* Bio-key International Inc. 7,270 16
* ADDvantage Technologies Group Inc. 9,900 13
^,* Vicon Industries Inc. 27,700 11
* Determine Inc. 5,600 8
* Nortech Systems Inc. 2,300 7
^,* Inpixon 4,981 5
* CPS Technologies Corp. 2,674 4
* Rubicon Technology Inc. 361 2
* Precipio Inc. 500 —
*,2 LGL Group Inc. Warrants Exp. 06/08/2018 238,900 —
* Intelligent Systems Corp. 1 —
      12,285,808
Materials (5.2%)    
  Celanese Corp. Class A 1,758,876 176,257
  Steel Dynamics Inc. 3,061,359 135,373
  Chemours Co. 2,401,355 116,970
* Alcoa Corp. 2,233,608 100,423
* Berry Global Group Inc. 1,702,960 93,339
* Crown Holdings Inc. 1,734,114 88,006
* Axalta Coating Systems Ltd. 2,843,922 85,858
  RPM International Inc. 1,727,677 82,358
  Reliance Steel & Aluminum Co. 945,199 81,041
  United States Steel Corp. 2,278,071 80,165
  Huntsman Corp. 2,740,266 80,153
  Royal Gold Inc. 849,116 72,914
  AptarGroup Inc. 806,552 72,453
  Olin Corp. 2,161,391 65,685
  Eagle Materials Inc. 629,490 64,869
  Sonoco Products Co. 1,291,943 62,659
  Graphic Packaging Holding Co. 4,019,881 61,705
  Valvoline Inc. 2,616,780 57,909
  Ashland Global Holdings Inc. 806,781 56,305
  Louisiana-Pacific Corp. 1,879,275 54,067
  WR Grace & Co. 879,338 53,842
  Westlake Chemical Corp. 468,018 52,020
  Bemis Co. Inc. 1,181,099 51,401
  NewMarket Corp. 119,258 47,904
* Owens-Illinois Inc. 2,119,336 45,905
  Cabot Corp. 802,034 44,689
  PolyOne Corp. 1,050,341 44,661
  Scotts Miracle-Gro Co. 517,232 44,353
* Summit Materials Inc. Class A 1,417,816 42,931
  Trinseo SA 563,232 41,707

 

 

* Ingevity Corp. 546,212 40,250
  Sensient Technologies Corp. 561,079 39,601
  KapStone Paper and Packaging Corp. 1,133,450 38,889
* Allegheny Technologies Inc. 1,629,244 38,580
  Domtar Corp. 812,422 34,560
  Balchem Corp. 416,513 34,050
  HB Fuller Co. 657,523 32,699
  Minerals Technologies Inc. 462,052 30,934
  Commercial Metals Co. 1,504,565 30,783
* GCP Applied Technologies Inc. 930,139 27,021
* Platform Specialty Products Corp. 2,792,170 26,889
  Carpenter Technology Corp. 609,406 26,887
  Silgan Holdings Inc. 961,989 26,791
* Cleveland-Cliffs Inc. 3,843,657 26,713
  Compass Minerals International Inc. 438,746 26,456
  Quaker Chemical Corp. 173,049 25,634
* Ferro Corp. 1,089,730 25,304
  Worthington Industries Inc. 582,000 24,979
  Kaiser Aluminum Corp. 221,652 22,365
  Tronox Ltd. Class A 1,181,441 21,786
  Innospec Inc. 315,350 21,633
  Stepan Co. 257,225 21,396
  Greif Inc. Class A 385,767 20,156
* Kraton Corp. 407,380 19,436
  Boise Cascade Co. 501,325 19,351
* Coeur Mining Inc. 2,407,771 19,262
  Hecla Mining Co. 5,184,964 19,029
* AK Steel Holding Corp. 4,088,131 18,519
  Neenah Inc. 219,718 17,226
  A Schulman Inc. 382,340 16,441
  Schweitzer-Mauduit International Inc. 399,937 15,658
  Rayonier Advanced Materials Inc. 671,128 14,409
* AdvanSix Inc. 395,195 13,745
  Materion Corp. 261,200 13,334
^,* US Concrete Inc. 201,491 12,170
  PH Glatfelter Co. 591,696 12,148
  Schnitzer Steel Industries Inc. 351,399 11,368
* Venator Materials plc 621,996 11,252
* Koppers Holdings Inc. 271,100 11,142
  Chase Corp. 92,694 10,794
* Century Aluminum Co. 647,856 10,716
  Innophos Holdings Inc. 255,289 10,265
* Resolute Forest Products Inc. 1,165,574 9,674
  KMG Chemicals Inc. 155,989 9,352
* SunCoke Energy Inc. 836,306 8,999
* Clearwater Paper Corp. 214,424 8,384
  Mercer International Inc. 641,070 7,981
* TimkenSteel Corp. 508,675 7,727
* Verso Corp. 441,566 7,436
  American Vanguard Corp. 342,317 6,915
^ McEwen Mining Inc. 3,323,046 6,912
  Kronos Worldwide Inc. 287,546 6,499
  Tredegar Corp. 356,610 6,401
* OMNOVA Solutions Inc. 584,158 6,134
  Haynes International Inc. 163,053 6,051
  Myers Industries Inc. 286,083 6,051
  Warrior Met Coal Inc. 215,665 6,041

 

 

* PQ Group Holdings Inc. 371,910 5,196
^,* Intrepid Potash Inc. 1,315,489 4,788
* Flotek Industries Inc. 739,029 4,508
  Hawkins Inc. 125,318 4,405
  FutureFuel Corp. 333,494 3,999
  Gold Resource Corp. 830,888 3,747
^ Advanced Emissions Solutions Inc. 290,035 3,312
* Trecora Resources 223,630 3,041
* AgroFresh Solutions Inc. 375,070 2,757
  Olympic Steel Inc. 132,478 2,717
* Universal Stainless & Alloy Products Inc. 86,264 2,372
* UFP Technologies Inc. 79,832 2,355
^,* Forterra Inc. 248,253 2,065
  United States Lime & Minerals Inc. 27,379 2,004
  Core Molding Technologies Inc. 97,982 1,747
* Ryerson Holding Corp. 203,126 1,655
* LSB Industries Inc. 253,973 1,557
  Ampco-Pittsburgh Corp. 153,370 1,365
  Synalloy Corp. 78,906 1,132
^ Tecnoglass Inc. 118,697 1,122
  Northern Technologies International Corp. 29,246 658
^,* Ramaco Resources Inc. 82,408 593
^,* Pershing Gold Corp. 240,768 494
* Loop Industries Inc. 25,698 373
^,* Reto Eco-solutions Inc. 35,800 311
  Friedman Industries Inc. 49,315 289
* Marrone Bio Innovations Inc. 136,104 272
^,* Golden Minerals Co. 648,415 261
* General Moly Inc. 683,377 260
^,* US Gold Corp. 117,799 151
^,* Yield10 Bioscience Inc. 66,290 129
* Paramount Gold Nevada Corp. 88,617 125
* Solitario Zinc Corp. 258,205 120
* Senomyx Inc. 90,739 81
^,* Comstock Mining Inc. 44,200 11
* Ikonics Corp. 926 8
* US Antimony Corp. 16,354 4
      3,269,084
Other (0.0%)3    
*,2 Dyax Corp. CVR Exp. 12/31/2019 1,549,121 3,098
^,*,2 Babcock & Wilcox Enterprises Inc. Rights Exp. 04/10/2018 533,649 1,024
*,2 Herbalife Ltd. CVR 83,162 807
*,2 Tobira Therapeutics CVR Exp. 12/31/2028 87,894 398
*,2 NewStar Financial Inc 225,787 111
^,* Famous Dave's of America Inc. Rights Exp. 04/10/2018 20,454 74
*,2 Media General Inc. CVR 1,202,098 47
* Kadmon Warrants Exp. 09/29/2022 105,015 38
* Rhythmone Dummy Line 7,548 18
*,2 Gerber Scientific Inc. CVR 161,151 18
*,2 Ambit Biosciences Corp. CVR 22,388 13
*,2 Ocera Therapeutics CVR Line 48,417 13
*,2 GenVec Inc. CPR to Expire 2020 26,612 12
*,2 Alexza Pharmaceuticals Inc. CVR 128,704 4
*,2 Achieve Life Sciences Inc. CVR 330,518 3
*,2 Dara Biosciences Inc. CVR Exp. 12/31/2018 15,573 1
*,2 Seventy Seven Energy Inc. Escrow Line 3,457 —
*,2 Clinical Data CVR 131,308 —

 

 

*,2 Chelsea Therapeutics International Ltd. CVR 912,063 —
*,2 Adolor Corp. Rights Exp. 07/01/2019 596,841 —
^,*,2 Biosante Pharmaceutical Inc. CVR 44,795 —
*,2 Yangtze River Blockchain Logistics Ltd. 9,057 —
      5,679
Real Estate (7.8%)    
  Jones Lang LaSalle Inc. 586,681 102,458
  Camden Property Trust 1,201,703 101,159
  Equity LifeStyle Properties Inc. 1,149,023 100,850
  Sun Communities Inc. 1,031,621 94,259
  Kilroy Realty Corp. 1,273,534 90,370
  VEREIT Inc. 12,609,834 87,764
  Gaming and Leisure Properties Inc. 2,596,879 86,918
  WP Carey Inc. 1,394,539 86,448
  Invitation Homes Inc. 3,691,250 84,271
  National Retail Properties Inc. 1,981,998 77,813
  Liberty Property Trust 1,907,370 75,780
  Douglas Emmett Inc. 2,048,299 75,295
  Park Hotels & Resorts Inc. 2,613,137 70,607
  Healthcare Trust of America Inc. Class A 2,666,504 70,529
  Forest City Realty Trust Inc. Class A 3,466,797 70,237
* Howard Hughes Corp. 503,007 69,983
^ Omega Healthcare Investors Inc. 2,573,422 69,585
  Lamar Advertising Co. Class A 1,088,248 69,278
  American Campus Communities Inc. 1,775,964 68,588
  DCT Industrial Trust Inc. 1,209,356 68,135
  CubeSmart 2,366,607 66,738
  American Homes 4 Rent Class A 3,269,925 65,660
  Hudson Pacific Properties Inc. 2,002,244 65,133
  CyrusOne Inc. 1,239,968 63,499
  Medical Properties Trust Inc. 4,735,775 61,565
  Brixmor Property Group Inc. 3,953,348 60,289
  Rayonier Inc. 1,678,118 59,036
  Highwoods Properties Inc. 1,330,643 58,309
  Hospitality Properties Trust 2,145,271 54,361
  STORE Capital Corp. 2,151,172 53,392
  Ryman Hospitality Properties Inc. 665,181 51,518
  Life Storage Inc. 604,991 50,529
* Equity Commonwealth 1,615,017 49,533
  Senior Housing Properties Trust 3,093,450 48,443
  Realogy Holdings Corp. 1,738,154 47,417
  Apple Hospitality REIT Inc. 2,677,758 47,048
  Cousins Properties Inc. 5,409,222 46,952
  EPR Properties 835,530 46,288
  Spirit Realty Capital Inc. 5,898,203 45,770
  First Industrial Realty Trust Inc. 1,545,434 45,173
  Healthcare Realty Trust Inc. 1,629,240 45,146
  Gramercy Property Trust 2,071,748 45,019
  Taubman Centers Inc. 790,339 44,978
  CoreSite Realty Corp. 445,371 44,653
  RLJ Lodging Trust 2,269,845 44,126
  Sunstone Hotel Investors Inc. 2,898,310 44,112
  Weingarten Realty Investors 1,555,226 43,671
  LaSalle Hotel Properties 1,457,679 42,287
  JBG SMITH Properties 1,217,513 41,042
  Sabra Health Care REIT Inc. 2,310,916 40,788
  PotlatchDeltic Corp. 779,768 40,587

 

 

Colony NorthStar Inc. Class A 7,057,334 39,662
EastGroup Properties Inc. 453,608 37,495
Paramount Group Inc. 2,625,042 37,381
National Health Investors Inc. 542,393 36,498
Physicians Realty Trust 2,342,288 36,469
Brandywine Realty Trust 2,289,290 36,354
^ Uniti Group Inc. 2,140,145 34,777
Retail Properties of America Inc. 2,955,378 34,460
Corporate Office Properties Trust 1,310,496 33,850
Outfront Media Inc. 1,801,569 33,761
Piedmont Office Realty Trust Inc. Class A 1,892,624 33,291
GEO Group Inc. 1,610,557 32,968
Education Realty Trust Inc. 990,288 32,432
Columbia Property Trust Inc. 1,583,639 32,401
Pebblebrook Hotel Trust 898,114 30,850
CoreCivic Inc. 1,534,940 29,962
Kennedy-Wilson Holdings Inc. 1,716,239 29,863
Rexford Industrial Realty Inc. 1,026,418 29,551
Urban Edge Properties 1,379,112 29,444
PS Business Parks Inc. 260,225 29,416
STAG Industrial Inc. 1,229,708 29,415
DDR Corp. 3,976,337 29,147
Empire State Realty Trust Inc. 1,687,362 28,331
Washington REIT 1,031,314 28,155
Xenia Hotels & Resorts Inc. 1,392,735 27,465
Acadia Realty Trust 1,113,268 27,386
DiamondRock Hospitality Co. 2,612,020 27,270
^ Tanger Factory Outlet Centers Inc. 1,231,477 27,093
Retail Opportunity Investments Corp. 1,453,607 25,685
Terreno Realty Corp. 716,257 24,718
QTS Realty Trust Inc. Class A 655,714 23,750
* Quality Care Properties Inc. 1,217,685 23,660
HFF Inc. Class A 475,403 23,628
* Newmark Group Inc. Class A 1,515,139 23,015
Lexington Realty Trust 2,846,765 22,404
Chesapeake Lodging Trust 786,445 21,871
Alexander & Baldwin Inc. 873,858 20,212
LTC Properties Inc. 519,943 19,758
Mack-Cali Realty Corp. 1,176,665 19,662
Four Corners Property Trust Inc. 830,705 19,181
Alexander's Inc. 49,664 18,933
Agree Realty Corp. 387,572 18,619
Summit Hotel Properties Inc. 1,358,169 18,485
American Assets Trust Inc. 548,111 18,312
Government Properties Income Trust 1,281,553 17,506
Kite Realty Group Trust 1,136,626 17,311
Select Income REIT 864,012 16,831
* St. Joe Co. 869,050 16,382
National Storage Affiliates Trust 649,052 16,278
Washington Prime Group Inc. 2,417,155 16,122
Monmouth Real Estate Investment Corp. 1,003,830 15,098
Global Net Lease Inc. 855,421 14,440
RE/MAX Holdings Inc. Class A 231,571 13,998
CareTrust REIT Inc. 998,427 13,379
Ramco-Gershenson Properties Trust 1,041,683 12,875
^ Seritage Growth Properties Class A 334,237 11,882
Franklin Street Properties Corp. 1,406,218 11,826

 

 

  Tier REIT Inc. 628,917 11,622
  Easterly Government Properties Inc. 567,326 11,573
  Chatham Lodging Trust 578,035 11,069
  Getty Realty Corp. 431,082 10,872
  NorthStar Realty Europe Corp. 772,637 10,060
  Universal Health Realty Income Trust 166,218 9,990
  Independence Realty Trust Inc. 1,080,897 9,923
  InfraREIT Inc. 509,651 9,903
  Hersha Hospitality Trust Class A 519,743 9,303
^ CBL & Associates Properties Inc. 2,221,843 9,265
* iStar Inc. 904,785 9,202
  Americold Realty Trust 475,926 9,081
  Saul Centers Inc. 174,228 8,880
^ Pennsylvania REIT 917,396 8,853
  New Senior Investment Group Inc. 1,057,813 8,653
  Investors Real Estate Trust 1,588,569 8,245
  Armada Hoffler Properties Inc. 597,562 8,181
  Urstadt Biddle Properties Inc. Class A 421,360 8,132
  CatchMark Timber Trust Inc. Class A 627,811 7,829
  Ashford Hospitality Trust Inc. 1,146,476 7,406
* Marcus & Millichap Inc. 204,086 7,359
  Preferred Apartment Communities Inc. Class A 504,257 7,155
  Front Yard Residential Corp. 703,115 7,066
  RMR Group Inc. Class A 93,852 6,565
  Gladstone Commercial Corp. 369,445 6,406
* Tejon Ranch Co. 272,442 6,296
  NexPoint Residential Trust Inc. 252,255 6,266
* Willscot Corp. 434,690 5,934
  CorEnergy Infrastructure Trust Inc. 157,915 5,928
  Community Healthcare Trust Inc. 229,517 5,908
  UMH Properties Inc. 423,015 5,673
  Whitestone REIT 517,277 5,375
  City Office REIT Inc. 444,104 5,134
* Industrial Logistics Properties Trust 238,169 4,844
  One Liberty Properties Inc. 217,232 4,801
  Consolidated-Tomoka Land Co. 74,311 4,670
* FRP Holdings Inc. 82,895 4,642
  MedEquities Realty Trust Inc. 427,246 4,490
^,* Altisource Portfolio Solutions SA 152,716 4,056
  Ashford Hospitality Prime Inc. 413,098 4,015
  Cedar Realty Trust Inc. 1,015,639 4,002
^ Farmland Partners Inc. 433,182 3,617
  CIM Commercial Trust Corp. 266,434 3,370
^ Jernigan Capital Inc. 177,932 3,221
  Bluerock Residential Growth REIT Inc. Class A 355,841 3,025
^,* Forestar Group Inc. 139,779 2,956
^,* Redfin Corp. 125,921 2,875
* Stratus Properties Inc. 73,967 2,234
^ Innovative Industrial Properties Inc. 80,712 2,159
^ Safety Income & Growth Inc. 127,470 2,038
  Global Medical REIT Inc. 258,013 1,793
  Gladstone Land Corp. 132,004 1,595
  Clipper Realty Inc. 171,221 1,450
  VICI Properties Inc. 67,556 1,238
* Trinity Place Holdings Inc. 188,883 1,228
  Sotherly Hotels Inc. 166,788 1,154
* Maui Land & Pineapple Co. Inc. 87,932 1,024

 

 

  Griffin Industrial Realty Inc. 26,728 1,003
* Rafael Holdings Inc. Class B 140,615 682
^ Wheeler REIT Inc. 136,025 487
  BRT Apartments Corp. 41,347 486
  Global Self Storage Inc. 43,032 190
* JW Mays Inc. 4,600 171
* InterGroup Corp. 6,800 158
  Condor Hospitality Trust Inc. 10,076 101
* Transcontinental Realty Investors Inc. 2,463 100
  Plymouth Industrial REIT Inc. 5,229 90
  RAIT Financial Trust 302,846 49
* American Realty Investors Inc. 1,100 20
* Altisource Asset Management Corp. 287 18
  HMG/Courtland Properties Inc. 1,000 14
* CKX Lands Inc. 1,000 11
* Reven Housing REIT Inc. 3,300 10
* Power REIT 200 1
      4,957,552
Telecommunication Services (0.9%)    
* T-Mobile US Inc. 3,869,712 236,207
* Zayo Group Holdings Inc. 2,415,512 82,514
^,* Sprint Corp. 8,815,153 43,018
  Telephone & Data Systems Inc. 1,191,402 33,395
* Vonage Holdings Corp. 2,702,556 28,782
  Cogent Communications Holdings Inc. 537,665 23,335
  Shenandoah Telecommunications Co. 603,298 21,719
* Boingo Wireless Inc. 531,410 13,163
^,* Iridium Communications Inc. 1,081,416 12,166
  Consolidated Communications Holdings Inc. 839,873 9,205
* ORBCOMM Inc. 969,580 9,085
  ATN International Inc. 142,510 8,496
* Cincinnati Bell Inc. 554,374 7,678
^ Frontier Communications Corp. 1,018,671 7,558
* United States Cellular Corp. 184,748 7,425
  Spok Holdings Inc. 296,817 4,437
* Hawaiian Telcom Holdco Inc. 137,025 3,656
* pdvWireless Inc. 117,215 3,499
^,* Globalstar Inc. 5,081,465 3,493
  Windstream Holdings Inc. 2,384,375 3,362
* Ooma Inc. 222,168 2,422
* NII Holdings Inc. 919,839 1,941
  IDT Corp. Class B 281,286 1,764
* Fusion Telecommunications International Inc. 394,100 1,273
^,* Pareteum Corp. 516,700 1,261
* Alaska Communications Systems Group Inc. 539,199 971
^,* One Horizon Group Inc. 93,512 79
* Otelco Inc. Class A 1,411 21
      571,925
Utilities (2.9%)    
  Atmos Energy Corp. 1,431,686 120,605
  UGI Corp. 2,248,308 99,870
  Westar Energy Inc. Class A 1,849,233 97,251
  Great Plains Energy Inc. 2,792,201 88,764
  OGE Energy Corp. 2,567,876 84,149
  Aqua America Inc. 2,310,625 78,700
* Vistra Energy Corp. 3,663,919 76,319

 

 

  MDU Resources Group Inc.     2,532,992 71,329
  Vectren Corp.     1,081,551 69,133
  IDACORP Inc.     657,683 58,054
  WGL Holdings Inc.     668,483 55,919
  National Fuel Gas Co.     1,073,542 55,234
  Hawaiian Electric Industries Inc.     1,420,407 48,834
  ALLETE Inc.     665,075 48,052
  Portland General Electric Co.     1,143,576 46,326
  New Jersey Resources Corp.     1,140,761 45,744
  Spire Inc.     630,854 45,611
  ONE Gas Inc.     686,173 45,301
  Avista Corp.     840,718 43,087
  Southwest Gas Holdings Inc.     624,909 42,263
  PNM Resources Inc.     1,037,973 39,702
  Black Hills Corp.     684,098 37,147
  Avangrid Inc.     724,038 37,013
  NorthWestern Corp.     621,449 33,434
  South Jersey Industries Inc.     1,048,603 29,529
  El Paso Electric Co.     532,861 27,176
  Ormat Technologies Inc.     466,856 26,321
  MGE Energy Inc.     452,582 25,390
  American States Water Co.     478,421 25,385
  California Water Service Group     624,549 23,264
* Dynegy Inc.     1,705,843 23,063
  Otter Tail Corp.     529,861 22,969
  Northwest Natural Gas Co.     378,213 21,804
  Pattern Energy Group Inc. Class A     1,142,768 19,758
  NRG Yield Inc.     928,057 15,777
  Chesapeake Utilities Corp.     214,981 15,124
  SJW Group     211,934 11,171
  Connecticut Water Service Inc.     157,868 9,556
  Unitil Corp.     198,108 9,194
  Middlesex Water Co.     214,688 7,879
  TerraForm Power Inc. Class A     540,931 5,804
  NRG Yield Inc. Class A     337,795 5,553
  York Water Co.     167,742 5,200
^,* Cadiz Inc.     310,866 4,197
  Artesian Resources Corp. Class A     108,768 3,968
^ Spark Energy Inc. Class A     192,715 2,284
  RGC Resources Inc.     85,121 2,162
* AquaVenture Holdings Ltd.     153,305 1,904
* Pure Cycle Corp.     194,651 1,839
* US Geothermal Inc.     192,276 1,031
  Genie Energy Ltd. Class B     154,779 772
  Global Water Resources Inc.     8,895 80
          1,815,995
Total Common Stocks (Cost $46,553,011)       62,598,173
      Maturity    
    Coupon Date    
Preferred Stocks (0.0%)        
  GCI Liberty Inc. Pfd. (Cost $355) 5.000% 3/10/39 31,237 730

 

 

Temporary Cash Investments (2.4%)1        
Money Market Fund (2.3%)        
4,5 Vanguard Market Liquidity Fund 1.775%   15,047,215 1,504,721
 
        Face  
        Amount  
        ($000)  
U.S. Government and Agency Obligations (0.1%)        
6 United States Treasury Bill 1.461% 5/3/18 3,650 3,645
6 United States Treasury Bill 1.602% 5/24/18 5,000 4,988
6 United States Treasury Bill 1.446% 5/31/18 12,600 12,566
6 United States Treasury Bill 1.578% 6/7/18 2,000 1,994
6 United States Treasury Bill 1.497% 6/14/18 3,400 3,389
6 United States Treasury Bill 1.783% 6/21/18 5,000 4,981
6 United States Treasury Bill 1.693% 7/12/18 3,000 2,985
  United States Treasury Bill 1.849% 8/16/18 5,000 4,966
          39,514
Total Temporary Cash Investments (Cost $1,544,172)       1,544,235
Total Investments (101.4%) (Cost $48,097,538)       64,143,138
Other Asset and Liabilities-Net (-1.4%)5,7       (888,473)
Net Assets (100%)       63,254,665

 

^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $830,034,000.
* Non-income-producing security.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts and
swap contracts. After giving effect to futures and swap investments, the fund's effective common stock and
temporary cash investment positions represent 100.0% and 1.4%, respectively, of net assets.
2 Security value determined using significant unobservable inputs.
3 “Other” represents securities that are not classified by the fund’s benchmark index.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $892,540,000 of collateral received for securities on loan.
6 Securities with a value of $29,512,000 have been segregated as initial margin for open futures contracts.
7 Cash with a value of $400,000 has been segregated as collateral for open over-the-counter swap contracts.
CVR—Contingent Value Rights.
REIT—Real Estate Investment Trust.

Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional  Appreciation
  Expiration Contracts Amount  (Depreciation)
Long Futures Contracts        
E-mini Russell 2000 Index June 2018 4,586 351,104 (16,079)
E-mini S&P Mid-Cap 400 Index June 2018 843 158,745 (3,584)
E-mini S&P 500 Index June 2018 1,064 140,608 (4,508)
        (24,171)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

 

Extended Market Index Fund

Total Return Swaps          
        Floating Value and
        Interest Unrealized
      Notional Rate Appreciation
  Termination   Amount Received (Depreciation)
Reference Entity Date Counterparty ($000) (Paid)1 ($000)
SLM Corp. 5/9/2018 GSCM 24,149 (2.21%) 50
Ambac Financial Group Inc. 4/11/2018 GSCM 4,300 (2.21%) 370
          420
GSCM—Goldman Sachs Capital Management.
1 Payment received/paid monthly.

 

Unrealized appreciation (depreciation) on open swap contracts is required to be treated as ordinary income (loss) for tax purposes.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 62,592,494 130 5,549
Preferred Stocks 730 — —
Temporary Cash Investments 1,504,721 39,514 —
Futures Contracts—Assets1 7,315 — —
Swap Contracts—Assets — 420 —

 

 

Extended Market Index Fund

Total 64,105,260 40,064 5,549
1 Represents variation margin on the last day of the reporting period.      

 

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks 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 invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

The notional amounts of swap contracts are not recorded in the Schedule of Investments. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as unrealized appreciation (depreciation) until termination of the swap, at which time realized gain (loss) is recorded.

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

 

Extended Market Index Fund

each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

E. At March 31, 2018, the cost of investment securities for tax purposes was $48,103,468,000. Net unrealized appreciation of investment securities for tax purposes was $16,039,670,000, consisting of unrealized gains of $19,611,553,000 on securities that had risen in value since their purchase and $3,571,883,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Total Stock Market Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.5%)1    
Basic Materials (2.5%)    
  DowDuPont Inc. 57,465,862 3,661,150
  Praxair Inc. 7,061,838 1,019,023
  Ecolab Inc. 6,411,716 878,854
  Air Products & Chemicals Inc. 5,397,560 858,374
  LyondellBasell Industries NV Class A 7,788,041 823,040
  PPG Industries Inc. 6,159,209 687,368
* Freeport-McMoRan Inc. 33,933,638 596,214
  International Paper Co. 10,185,133 544,192
  Newmont Mining Corp. 13,159,908 514,158
  Nucor Corp. 7,835,041 478,643
  Eastman Chemical Co. 3,185,057 336,278
  Celanese Corp. Class A 3,352,113 335,915
  International Flavors & Fragrances Inc. 1,951,348 267,159
  FMC Corp. 3,310,287 253,469
  Albemarle Corp. 2,724,870 252,704
  Steel Dynamics Inc. 5,557,168 245,738
  Avery Dennison Corp. 2,168,339 230,386
  Chemours Co. 4,504,718 219,425
  CF Industries Holdings Inc. 5,756,420 217,190
  Mosaic Co. 8,557,560 207,778
* Alcoa Corp. 4,560,911 205,059
* Axalta Coating Systems Ltd. 5,456,744 164,739
  RPM International Inc. 3,291,202 156,892
  United States Steel Corp. 4,336,190 152,591
  Huntsman Corp. 5,026,665 147,030
  Reliance Steel & Aluminum Co. 1,703,629 146,069
  Royal Gold Inc. 1,614,573 138,643
  Olin Corp. 4,112,311 124,973
  Ashland Global Holdings Inc. 1,531,060 106,853
  Westlake Chemical Corp. 959,953 106,699
  WR Grace & Co. 1,670,468 102,283
  Versum Materials Inc. 2,692,409 101,315
  NewMarket Corp. 234,305 94,116
  PolyOne Corp. 1,999,186 85,005
  Scotts Miracle-Gro Co. 986,486 84,591
* Univar Inc. 2,788,547 77,382
* Ingevity Corp. 1,045,821 77,067
  Cabot Corp. 1,373,839 76,550
  Peabody Energy Corp. 2,095,346 76,480
  Sensient Technologies Corp. 1,067,660 75,355
  KapStone Paper and Packaging Corp. 2,154,283 73,913
* Allegheny Technologies Inc. 3,089,688 73,164
  Domtar Corp. 1,546,706 65,797
  Balchem Corp. 794,701 64,967
  HB Fuller Co. 1,242,956 61,812
  Minerals Technologies Inc. 876,754 58,699
  Commercial Metals Co. 2,718,267 55,616
  US Silica Holdings Inc. 1,999,163 51,019
* Cleveland-Cliffs Inc. 7,326,146 50,917

 

 

* Platform Specialty Products Corp. 5,286,204 50,906
  Carpenter Technology Corp. 1,153,061 50,873
^ Compass Minerals International Inc. 829,465 50,017
* GCP Applied Technologies Inc. 1,686,763 49,000
* Ferro Corp. 2,073,261 48,141
  Arch Coal Inc. Class A 514,325 47,256
  Quaker Chemical Corp. 312,636 46,311
  Worthington Industries Inc. 1,066,071 45,756
* Cambrex Corp. 810,182 42,373
  Stepan Co. 504,030 41,925
  Innospec Inc. 602,449 41,328
  Tronox Ltd. Class A 2,150,159 39,649
  Kaiser Aluminum Corp. 391,488 39,501
* Kraton Corp. 780,974 37,260
* Coeur Mining Inc. 4,561,264 36,490
  Hecla Mining Co. 9,916,602 36,394
*,^ AK Steel Holding Corp. 7,742,019 35,071
  Neenah Inc. 414,737 32,515
  A Schulman Inc. 660,006 28,380
  Rayonier Advanced Materials Inc. 1,273,979 27,352
* AdvanSix Inc. 713,740 24,824
  PH Glatfelter Co. 1,077,623 22,124
* Koppers Holdings Inc. 507,097 20,842
  Warrior Met Coal Inc. 722,507 20,237
  Chase Corp. 170,757 19,885
* Century Aluminum Co. 1,176,904 19,466
  Innophos Holdings Inc. 477,554 19,202
  KMG Chemicals Inc. 320,123 19,191
* CONSOL Energy Inc. 631,552 18,296
* CSW Industrials Inc. 380,415 17,138
* SunCoke Energy Inc. 1,581,262 17,014
*,^ Fairmount Santrol Holdings Inc. 3,864,543 16,424
* Clearwater Paper Corp. 401,646 15,704
* Verso Corp. 854,249 14,386
  Tredegar Corp. 760,361 13,648
  American Vanguard Corp. 660,836 13,349
  Kronos Worldwide Inc. 580,190 13,112
* Codexis Inc. 1,128,247 12,411
* Resolute Forest Products Inc. 1,422,992 11,811
  Haynes International Inc. 308,884 11,463
* OMNOVA Solutions Inc. 1,019,093 10,700
* Veritiv Corp. 269,480 10,564
* PQ Group Holdings Inc. 707,776 9,888
* Nexeo Solutions Inc. 803,457 8,597
* Intrepid Potash Inc. 2,262,730 8,236
  Hawkins Inc. 227,222 7,987
  FutureFuel Corp. 630,355 7,558
  Gold Resource Corp. 1,432,357 6,460
* Cloud Peak Energy Inc. 1,880,861 5,473
  Olympic Steel Inc. 260,546 5,344
*,^ AgroFresh Solutions Inc. 683,772 5,026
* Universal Stainless & Alloy Products Inc. 179,737 4,943
*,^ Uranium Energy Corp. 3,491,208 4,573
  Hallador Energy Co. 551,796 3,791
*,^ ChromaDex Corp. 831,658 3,493
* Ryerson Holding Corp. 411,943 3,357
*,^ LSB Industries Inc. 477,330 2,926

 

 

  Synalloy Corp. 191,382 2,746
  Ampco-Pittsburgh Corp. 266,121 2,368
*,^ Ur-Energy Inc. 3,848,666 2,309
*,^ Marrone Bio Innovations Inc. 853,578 1,707
  Northern Technologies International Corp. 70,300 1,582
*,^ Ramaco Resources Inc. 156,834 1,128
* NL Industries Inc. 141,712 1,112
* Senomyx Inc. 1,088,009 968
* General Moly Inc. 2,527,959 961
*,^ Pershing Gold Corp. 428,954 879
  United-Guardian Inc. 44,730 787
  Friedman Industries Inc. 106,118 623
* Centrus Energy Corp. Class A 112,234 398
* Solitario Zinc Corp. 608,874 284
*,^ Westwater Resources Inc. 431,989 247
*,^ US Gold Corp. 171,792 220
*,^ Paramount Gold Nevada Corp. 147,835 208
*,^ Golden Minerals Co. 516,559 208
* Dynasil Corp. of America 158,073 206
*,^ Comstock Mining Inc. 619,000 155
* Ikonics Corp. 6,410 56
*,^ US Antimony Corp. 69,973 18
      16,777,765
Consumer Goods (8.4%)    
  Procter & Gamble Co. 62,193,140 4,930,672
  Coca-Cola Co. 94,597,367 4,108,364
  PepsiCo Inc. 35,034,272 3,823,991
  Philip Morris International Inc. 38,323,975 3,809,403
  Altria Group Inc. 46,906,575 2,923,218
  NIKE Inc. Class B 32,025,141 2,127,750
  Colgate-Palmolive Co. 21,601,749 1,548,413
  Mondelez International Inc. Class A 34,839,485 1,453,852
  Monsanto Co. 10,317,697 1,203,972
  Activision Blizzard Inc. 17,721,859 1,195,517
  General Motors Co. 31,093,205 1,129,927
  Ford Motor Co. 96,202,679 1,065,926
  Kimberly-Clark Corp. 8,652,529 952,903
  Kraft Heinz Co. 15,021,039 935,661
* Electronic Arts Inc. 7,565,878 917,287
  Constellation Brands Inc. Class A 4,011,438 914,287
*,^ Tesla Inc. 3,332,760 886,947
  Estee Lauder Cos. Inc. Class A 5,539,048 829,306
  General Mills Inc. 14,029,534 632,171
  Archer-Daniels-Midland Co. 13,775,883 597,460
* Monster Beverage Corp. 10,436,484 597,071
  Stanley Black & Decker Inc. 3,778,309 578,837
  VF Corp. 7,797,513 577,952
  Aptiv plc 6,558,638 557,287
  Tyson Foods Inc. Class A 7,333,988 536,775
  Dr Pepper Snapple Group Inc. 4,426,929 524,060
  Kellogg Co. 6,818,522 443,272
  Clorox Co. 3,189,911 424,609
  DR Horton Inc. 8,792,189 385,450
  Lennar Corp. Class A 6,328,260 372,988
  Tapestry Inc. 7,028,229 369,755
  Conagra Brands Inc. 9,873,132 364,121
* Mohawk Industries Inc. 1,556,969 361,559

 

 

  Hershey Co. 3,508,131 347,165
  Brown-Forman Corp. Class B 6,155,535 334,861
  JM Smucker Co. 2,659,860 329,849
  Molson Coors Brewing Co. Class B 4,334,582 326,524
  McCormick & Co. Inc. 2,981,252 317,175
  Church & Dwight Co. Inc. 6,157,541 310,094
  Genuine Parts Co. 3,433,400 308,457
  Newell Brands Inc. 12,094,899 308,178
  Lear Corp. 1,649,815 307,014
  PVH Corp. 1,897,717 287,371
* Take-Two Interactive Software Inc. 2,819,559 275,696
* LKQ Corp. 7,234,321 274,542
  Whirlpool Corp. 1,743,053 266,879
  BorgWarner Inc. 5,195,407 260,965
  Bunge Ltd. 3,470,923 256,640
* NVR Inc. 86,390 241,892
  Hasbro Inc. 2,762,685 232,894
  Ingredion Inc. 1,778,037 229,225
  Hormel Foods Corp. 6,533,582 224,233
* Michael Kors Holdings Ltd. 3,562,576 221,165
* Lululemon Athletica Inc. 2,479,400 220,964
  Lamb Weston Holdings Inc. 3,598,371 209,497
  Campbell Soup Co. 4,817,627 208,651
  Snap-on Inc. 1,399,486 206,480
  Coty Inc. Class A 11,108,956 203,294
  PulteGroup Inc. 6,382,489 188,220
  Harley-Davidson Inc. 4,159,867 178,375
* WABCO Holdings Inc. 1,325,069 177,387
* US Foods Holding Corp. 5,286,167 173,228
* Middleby Corp. 1,378,786 170,680
  Leucadia National Corp. 7,500,952 170,497
  Polaris Industries Inc. 1,476,970 169,143
  Hanesbrands Inc. 8,880,891 163,586
  Pinnacle Foods Inc. 2,916,673 157,792
  Goodyear Tire & Rubber Co. 5,916,992 157,274
  Gentex Corp. 6,766,846 155,773
  Ralph Lauren Corp. Class A 1,367,011 152,832
  Toll Brothers Inc. 3,429,599 148,330
*,^ Herbalife Ltd. 1,508,349 147,019
  Leggett & Platt Inc. 3,254,163 144,355
  Thor Industries Inc. 1,235,262 142,265
  Pool Corp. 942,302 137,783
  Brunswick Corp. 2,154,783 127,973
* Skechers U.S.A. Inc. Class A 3,140,313 122,127
  Carter's Inc. 1,160,312 120,788
* Post Holdings Inc. 1,538,024 116,521
^ Mattel Inc. 8,501,722 111,798
  Valvoline Inc. 4,943,156 109,392
  Delphi Technologies plc 2,191,248 104,413
  Flowers Foods Inc. 4,426,096 96,754
  Dana Inc. 3,566,066 91,862
  Nu Skin Enterprises Inc. Class A 1,234,026 90,960
*,^ Wayfair Inc. 1,342,445 90,655
  Energizer Holdings Inc. 1,472,192 87,713
* Blue Buffalo Pet Products Inc. 2,164,117 86,154
* Visteon Corp. 765,110 84,346
* Hain Celestial Group Inc. 2,434,807 78,084

 

 

*,^ Under Armour Inc. Class A 4,604,355 75,281
* Zynga Inc. Class A 19,354,974 70,839
* Darling Ingredients Inc. 4,077,375 70,539
* Deckers Outdoor Corp. 781,265 70,337
  Tenneco Inc. 1,275,545 69,989
* Welbilt Inc. 3,447,761 67,059
*,^ Under Armour Inc. 4,614,495 66,218
* Edgewell Personal Care Co. 1,337,675 65,305
  Wolverine World Wide Inc. 2,251,582 65,071
* Taylor Morrison Home Corp. Class A 2,749,266 64,003
* TRI Pointe Group Inc. 3,739,065 61,433
  LCI Industries 586,851 61,121
  Sanderson Farms Inc. 507,061 60,350
  KB Home 2,121,252 60,350
  Columbia Sportswear Co. 781,735 59,748
  Spectrum Brands Holdings Inc. 572,227 59,340
  Lancaster Colony Corp. 473,809 58,345
* Helen of Troy Ltd. 668,907 58,195
  Steven Madden Ltd. 1,319,284 57,917
* Cooper-Standard Holdings Inc. 441,242 54,189
* TreeHouse Foods Inc. 1,401,737 53,644
  Tupperware Brands Corp. 1,064,394 51,495
* Tempur Sealy International Inc. 1,132,695 51,300
  Vector Group Ltd. 2,489,219 50,755
  J&J Snack Foods Corp. 370,282 50,566
  Herman Miller Inc. 1,477,585 47,209
* Dorman Products Inc. 669,651 44,338
  WD-40 Co. 326,570 43,009
* Meritage Homes Corp. 940,752 42,569
*,^ iRobot Corp. 651,582 41,825
* American Axle & Manufacturing Holdings Inc. 2,741,459 41,725
* Boston Beer Co. Inc. Class A 206,434 39,026
* G-III Apparel Group Ltd. 1,027,588 38,720
  HNI Corp. 1,072,370 38,702
^ B&G Foods Inc. 1,632,648 38,694
  Callaway Golf Co. 2,335,179 38,204
  Interface Inc. Class A 1,491,843 37,594
  Cooper Tire & Rubber Co. 1,261,359 36,958
* Cavco Industries Inc. 212,500 36,922
  La-Z-Boy Inc. 1,169,109 35,015
* Hostess Brands Inc. Class A 2,342,057 34,639
  Calavo Growers Inc. 368,049 33,934
* Sleep Number Corp. 952,443 33,478
  Fresh Del Monte Produce Inc. 729,695 33,011
  ACCO Brands Corp. 2,624,089 32,932
* Fox Factory Holding Corp. 883,671 30,840
* Avon Products Inc. 10,850,593 30,816
* Gentherm Inc. 905,035 30,726
*,^ Cal-Maine Foods Inc. 701,072 30,637
  MDC Holdings Inc. 1,092,168 30,493
* Pilgrim's Pride Corp. 1,233,325 30,352
* LGI Homes Inc. 428,155 30,215
  Seaboard Corp. 7,021 29,945
  Universal Corp. 612,113 29,687
  Oxford Industries Inc. 396,122 29,535
  Schweitzer-Mauduit International Inc. 749,823 29,356
  MGP Ingredients Inc. 309,283 27,709

 

 

* Central Garden & Pet Co. Class A 691,852 27,404
* Crocs Inc. 1,632,175 26,523
  Winnebago Industries Inc. 698,840 26,276
  Medifast Inc. 279,618 26,130
  National Beverage Corp. 291,584 25,957
* USANA Health Sciences Inc. 299,100 25,693
* Modine Manufacturing Co. 1,195,325 25,281
  Steelcase Inc. Class A 1,842,290 25,055
  Camping World Holdings Inc. Class A 761,234 24,550
  Knoll Inc. 1,148,659 23,191
*,^ Fitbit Inc. Class A 4,531,798 23,112
* Vista Outdoor Inc. 1,412,377 23,050
  Standard Motor Products Inc. 471,764 22,442
* M/I Homes Inc. 684,067 21,788
  Briggs & Stratton Corp. 995,139 21,306
* William Lyon Homes Class A 772,426 21,234
  Andersons Inc. 627,234 20,761
  Inter Parfums Inc. 425,683 20,071
  Coca-Cola Bottling Co. Consolidated 115,558 19,953
  Nutrisystem Inc. 733,473 19,767
  Lennar Corp. Class B 410,580 19,581
  Dean Foods Co. 2,243,645 19,340
  Phibro Animal Health Corp. Class A 485,627 19,279
  Acushnet Holdings Corp. 821,002 18,957
* Century Communities Inc. 610,501 18,285
* Stoneridge Inc. 659,283 18,196
* Central Garden & Pet Co. 407,190 17,509
* Universal Electronics Inc. 332,231 17,293
* Malibu Boats Inc. Class A 500,554 16,623
  Titan International Inc. 1,240,387 15,641
  Movado Group Inc. 381,687 14,657
  Kimball International Inc. Class B 854,741 14,565
  Ethan Allen Interiors Inc. 604,630 13,876
* Unifi Inc. 377,582 13,687
*,^ Fossil Group Inc. 1,074,348 13,644
  Tower International Inc. 479,513 13,306
*,^ GoPro Inc. Class A 2,698,552 12,926
* Beazer Homes USA Inc. 771,034 12,298
  John B Sanfilippo & Son Inc. 200,099 11,580
  National Presto Industries Inc. 122,426 11,477
*,^ elf Beauty Inc. 563,676 10,918
^ Tootsie Roll Industries Inc. 370,090 10,899
* MCBC Holdings Inc. 431,046 10,862
  Hooker Furniture Corp. 287,151 10,538
* Nautilus Inc. 742,503 9,987
* Motorcar Parts of America Inc. 463,137 9,925
* Freshpet Inc. 598,812 9,850
* Glu Mobile Inc. 2,519,517 9,499
* Perry Ellis International Inc. 308,561 7,961
* ZAGG Inc. 649,577 7,925
  Superior Industries International Inc. 585,406 7,786
* Primo Water Corp. 663,967 7,775
  Culp Inc. 250,620 7,656
  Limoneira Co. 321,029 7,618
* Farmer Brothers Co. 250,444 7,563
  Bassett Furniture Industries Inc. 241,455 7,328
  Flexsteel Industries Inc. 181,586 7,187

 

 

  Johnson Outdoors Inc. Class A 110,155 6,830
*,^ 22nd Century Group Inc. 2,783,298 6,541
  Superior Uniform Group Inc. 231,336 6,077
* Hovnanian Enterprises Inc. Class A 3,157,639 5,778
* Vera Bradley Inc. 528,343 5,606
  Weyco Group Inc. 162,984 5,476
  Oil-Dri Corp. of America 136,100 5,470
* Seneca Foods Corp. Class A 185,972 5,151
* Alliance One International Inc. 197,695 5,150
*,^ Eastman Kodak Co. 896,745 4,798
* Craft Brew Alliance Inc. 251,775 4,683
*,^ Revlon Inc. Class A 207,651 4,278
* New Home Co. Inc. 384,016 4,255
  Lifetime Brands Inc. 336,352 4,171
* Clarus Corp. 601,618 4,061
  Turning Point Brands Inc. 208,702 4,057
  Rocky Brands Inc. 185,059 3,970
* Skyline Corp. 163,274 3,592
  Core Molding Technologies Inc. 187,022 3,335
*,^ Castle Brands Inc. 2,674,292 3,316
  Strattec Security Corp. 88,294 3,210
*,^ Vuzix Corp. 575,521 3,165
* Shiloh Industries Inc. 360,556 3,137
  Hamilton Beach Brands Holding Co. Class A 143,787 3,051
  Libbey Inc. 578,775 2,830
  Marine Products Corp. 192,480 2,697
  Escalade Inc. 193,788 2,655
*,^ Jamba Inc. 303,128 2,598
* Lakeland Industries Inc. 200,276 2,594
* Delta Apparel Inc. 137,842 2,484
* Nature's Sunshine Products Inc. 212,752 2,340
*,^ Akoustis Technologies Inc. 370,402 2,159
*,^ S&W Seed Co. 562,635 2,025
  Kewaunee Scientific Corp. 56,675 1,930
* Natural Alternatives International Inc. 175,279 1,928
  Alico Inc. 69,657 1,895
*,^ PolarityTE Inc. 102,828 1,864
*,^ Orchids Paper Products Co. 227,573 1,855
*,^ Sequential Brands Group Inc. 820,261 1,710
  Crown Crafts Inc. 274,576 1,606
* Funko Inc. Class A 192,360 1,579
*,^ Iconix Brand Group Inc. 1,295,497 1,438
  Rocky Mountain Chocolate Factory Inc. 114,287 1,375
*,^ Veru Inc. 753,450 1,364
  Unique Fabricating Inc. 159,609 1,347
* US Auto Parts Network Inc. 640,927 1,314
  Acme United Corp. 59,859 1,247
* JAKKS Pacific Inc. 566,895 1,190
*,^ Celsius Holdings Inc. 269,229 1,171
*,^ New Age Beverages Corp. 450,352 1,090
* Lifevantage Corp. 292,255 1,055
* Alpha Pro Tech Ltd. 293,460 983
  Virco Manufacturing Corp. 227,507 933
*,^ Nova Lifestyle Inc. 403,061 871
* Dixie Group Inc. 282,155 776
  LS Starrett Co. Class A 105,296 711
*,^ Lipocine Inc. 461,683 706

 

 

* Lifeway Foods Inc. 116,677 699
* Tandy Leather Factory Inc. 93,919 662
* Coffee Holding Co. Inc. 130,802 569
  Mannatech Inc. 32,631 512
* Willamette Valley Vineyards Inc. 64,597 508
* Zedge Inc. Class B 143,177 458
*,^ Long Blockchain Corp. 151,566 403
* Differential Brands Group Inc. 284,075 355
*,^ Vince Holding Corp. 39,303 352
* Cherokee Inc. 242,339 315
*,^ Reed's Inc. 176,831 301
* Charles & Colvard Ltd. 212,413 289
* Emerson Radio Corp. 153,609 224
* Summer Infant Inc. 149,701 172
  P&F Industries Inc. Class A 19,303 146
* Cyanotech Corp. 23,496 117
* Bridgford Foods Corp. 6,780 100
*,^ CDTi Advanced Materials Inc. 100,233 98
  Ocean Bio-Chem Inc. 22,278 89
  CompX International Inc. 5,846 81
* CTI Industries Corp. 14,046 56
* Hovnanian Enterprises Inc. Class B 19,300 35
* Koss Corp. 17,633 31
*,^ Level Brands Inc. 400 2
      56,810,344
Consumer Services (13.0%)    
* Amazon.com Inc. 10,151,619 14,692,844
  Home Depot Inc. 28,809,638 5,135,030
  Comcast Corp. Class A 114,352,773 3,907,434
  Walt Disney Co. 35,237,243 3,539,229
  Walmart Inc. 36,548,932 3,251,758
  McDonald's Corp. 19,665,655 3,075,315
* Netflix Inc. 10,170,065 3,003,729
* Booking Holdings Inc. 1,202,874 2,502,447
  Costco Wholesale Corp. 10,834,003 2,041,451
  Starbucks Corp. 32,941,846 1,907,003
  Time Warner Inc. 18,266,813 1,727,675
  Lowe's Cos. Inc. 19,448,041 1,706,566
  CVS Health Corp. 25,031,404 1,557,204
  Walgreens Boots Alliance Inc. 20,783,096 1,360,669
* Charter Communications Inc. Class A 4,119,319 1,282,014
  TJX Cos. Inc. 14,820,950 1,208,797
* eBay Inc. 23,712,065 954,173
  Twenty-First Century Fox Inc. Class A 25,990,105 953,577
  Target Corp. 13,410,540 931,094
  Marriott International Inc. Class A 6,614,947 899,500
  Delta Air Lines Inc. 15,828,137 867,540
  Southwest Airlines Co. 13,056,362 747,868
  Ross Stores Inc. 9,429,711 735,329
  McKesson Corp. 5,091,629 717,258
  Las Vegas Sands Corp. 9,753,909 701,306
  Yum! Brands Inc. 8,196,130 697,737
  Sysco Corp. 11,586,587 694,732
  Carnival Corp. 9,885,945 648,320
  Dollar General Corp. 6,698,355 626,631
* Dollar Tree Inc. 5,846,456 554,829
  American Airlines Group Inc. 10,506,853 545,936

 

 

  Kroger Co. 21,751,455 520,730
* O'Reilly Automotive Inc. 2,079,898 514,525
  Royal Caribbean Cruises Ltd. 4,219,557 496,811
  Cardinal Health Inc. 7,767,406 486,861
* United Continental Holdings Inc. 6,379,499 443,184
  MGM Resorts International 12,569,810 440,195
* AutoZone Inc. 674,480 437,528
  CBS Corp. Class B 8,493,965 436,505
  Best Buy Co. Inc. 6,131,646 429,154
  Omnicom Group Inc. 5,678,517 412,658
  Hilton Worldwide Holdings Inc. 5,066,882 399,068
  Twenty-First Century Fox Inc. 10,849,992 394,614
  Wynn Resorts Ltd. 2,027,706 369,772
  AmerisourceBergen Corp. Class A 4,066,970 350,613
  Expedia Group Inc. 3,085,001 340,615
* Ulta Beauty Inc. 1,430,052 292,117
  Tiffany & Co. 2,910,908 284,279
* Liberty Interactive Corp. QVC Group Class A 11,221,317 282,441
  Viacom Inc. Class B 9,067,291 281,630
  Nielsen Holdings plc 8,800,061 279,754
* CarMax Inc. 4,457,807 276,117
  Kohl's Corp. 4,142,689 271,388
  Wyndham Worldwide Corp. 2,333,611 267,035
* Norwegian Cruise Line Holdings Ltd. 4,969,032 263,210
* Copart Inc. 5,141,839 261,874
  Darden Restaurants Inc. 3,043,599 259,467
  Domino's Pizza Inc. 1,060,641 247,723
  Aramark 6,062,443 239,830
  L Brands Inc. 5,919,131 226,170
* Burlington Stores Inc. 1,683,561 224,166
  Macy's Inc. 7,511,266 223,385
* Chipotle Mexican Grill Inc. Class A 689,118 222,661
  Vail Resorts Inc. 996,505 220,925
  Interpublic Group of Cos. Inc. 9,578,446 220,592
  Gap Inc. 6,719,675 209,654
*,^ GrubHub Inc. 2,038,754 206,872
  Advance Auto Parts Inc. 1,733,491 205,505
* DISH Network Corp. Class A 5,350,457 202,729
  Tractor Supply Co. 3,095,241 195,062
  FactSet Research Systems Inc. 962,118 191,866
  Alaska Air Group Inc. 3,035,583 188,085
  News Corp. Class A 11,866,250 187,487
  KAR Auction Services Inc. 3,321,596 180,031
^ Sirius XM Holdings Inc. 27,828,590 173,650
* ServiceMaster Global Holdings Inc. 3,329,105 169,285
* Caesars Entertainment Corp. 14,766,794 166,126
  Service Corp. International 4,354,182 164,327
* JetBlue Airways Corp. 7,937,522 161,290
* Liberty Media Corp-Liberty SiriusXM C 3,909,362 159,697
* Liberty Media Corp-Liberty Formula One 4,645,155 143,303
* Bright Horizons Family Solutions Inc. 1,425,755 142,176
* Live Nation Entertainment Inc. 3,315,220 139,703
  Nordstrom Inc. 2,877,715 139,310
* Discovery Communications Inc. 7,061,252 137,836
  Foot Locker Inc. 2,993,683 136,332
  Dunkin' Brands Group Inc. 2,224,915 132,805
  H&R Block Inc. 5,159,445 131,102

 

 

* Grand Canyon Education Inc. 1,190,932 124,953
  Rollins Inc. 2,432,133 124,112
  Six Flags Entertainment Corp. 1,773,804 110,437
  Sabre Corp. 5,081,269 108,993
*,^ TripAdvisor Inc. 2,648,752 108,307
  Chemed Corp. 394,233 107,570
  Dun & Bradstreet Corp. 908,591 106,305
* Madison Square Garden Co. Class A 421,570 103,622
  Casey's General Stores Inc. 926,664 101,720
* Five Below Inc. 1,359,747 99,724
  Williams-Sonoma Inc. 1,867,907 98,551
* Liberty Media Corp-Liberty SiriusXM A 2,387,248 98,116
* Hilton Grand Vacations Inc. 2,273,708 97,815
  Cinemark Holdings Inc. 2,576,794 97,068
^ Cracker Barrel Old Country Store Inc. 591,185 94,117
  Extended Stay America Inc. 4,739,284 93,696
  Texas Roadhouse Inc. Class A 1,578,318 91,195
  Dolby Laboratories Inc. Class A 1,432,146 91,027
* Beacon Roofing Supply Inc. 1,676,848 88,990
*,^ Discovery Communications Inc. Class A 3,878,084 83,107
  Cable One Inc. 120,069 82,501
* Stamps.com Inc. 409,835 82,397
  Aaron's Inc. 1,746,900 81,406
  Hyatt Hotels Corp. Class A 1,067,364 81,397
* Yelp Inc. Class A 1,941,229 81,046
  ILG Inc. 2,594,559 80,717
* Planet Fitness Inc. Class A 2,119,155 80,040
* Avis Budget Group Inc. 1,703,990 79,815
  American Eagle Outfitters Inc. 3,935,988 78,444
  Wendy's Co. 4,450,015 78,098
  Tribune Media Co. Class A 1,918,473 77,717
  New York Times Co. Class A 3,185,812 76,778
* SiteOne Landscape Supply Inc. 986,710 76,016
* Etsy Inc. 2,696,351 75,660
  AMERCO 218,107 75,269
* Ollie's Bargain Outlet Holdings Inc. 1,222,272 73,703
* Sprouts Farmers Market Inc. 3,119,895 73,224
* Performance Food Group Co. 2,444,734 72,975
  John Wiley & Sons Inc. Class A 1,117,686 71,197
  Nexstar Media Group Inc. Class A 1,063,220 70,704
  Bed Bath & Beyond Inc. 3,328,637 69,868
  Marriott Vacations Worldwide Corp. 522,900 69,650
* AutoNation Inc. 1,473,073 68,910
  Dick's Sporting Goods Inc. 1,940,529 68,016
  Choice Hotels International Inc. 847,374 67,917
* Adtalem Global Education Inc. 1,412,038 67,142
  SkyWest Inc. 1,217,194 66,215
^ Churchill Downs Inc. 267,338 65,244
* Shutterfly Inc. 801,776 65,144
  Graham Holdings Co. Class B 107,755 64,895
  Hillenbrand Inc. 1,411,889 64,806
* AMC Networks Inc. Class A 1,243,985 64,314
* Urban Outfitters Inc. 1,739,011 64,274
* Spirit Airlines Inc. 1,681,854 63,540
^ Boyd Gaming Corp. 1,944,741 61,959
  Jack in the Box Inc. 723,451 61,732
  TEGNA Inc. 5,283,708 60,181

 

 

  Lithia Motors Inc. Class A 589,464 59,253
  Sinclair Broadcast Group Inc. Class A 1,870,204 58,537
  Lions Gate Entertainment Corp. Class B 2,427,306 58,450
  Children's Place Inc. 429,401 58,076
* Murphy USA Inc. 795,915 57,943
  Signet Jewelers Ltd. 1,490,778 57,425
*,^ Altice USA Inc. Class A 3,072,998 56,789
* Sotheby's 1,105,725 56,735
* Scientific Games Corp. 1,329,142 55,292
  Allegiant Travel Co. Class A 318,380 54,936
  PriceSmart Inc. 640,231 53,491
* United Natural Foods Inc. 1,242,785 53,365
* Michaels Cos. Inc. 2,690,151 53,023
* Penn National Gaming Inc. 2,017,732 52,986
* Liberty Expedia Holdings Inc. Class A 1,348,795 52,981
  Meredith Corp. 970,886 52,234
* Sally Beauty Holdings Inc. 3,096,745 50,941
* Chegg Inc. 2,429,846 50,201
  Red Rock Resorts Inc. Class A 1,702,711 49,855
  Bloomin' Brands Inc. 2,032,277 49,344
  Cheesecake Factory Inc. 1,008,671 48,638
* Cars.com Inc. 1,675,716 47,473
* Eldorado Resorts Inc. 1,422,357 46,938
  Hawaiian Holdings Inc. 1,204,169 46,601
* Weight Watchers International Inc. 718,297 45,770
  Big Lots Inc. 1,040,520 45,294
*,^ RH 474,594 45,219
* Groupon Inc. Class A 10,384,048 45,067
*,^ Rite Aid Corp. 26,460,784 44,454
* Acxiom Corp. 1,858,892 42,215
* Dave & Buster's Entertainment Inc. 1,003,798 41,899
  Monro Inc. 768,706 41,203
  Brinker International Inc. 1,135,323 40,985
* Pinnacle Entertainment Inc. 1,344,933 40,550
  Abercrombie & Fitch Co. 1,670,230 40,436
  Morningstar Inc. 422,693 40,376
* Rush Enterprises Inc. Class A 920,830 39,126
  Matthews International Corp. Class A 765,681 38,743
* Herc Holdings Inc. 594,239 38,596
  DSW Inc. Class A 1,688,323 37,920
* La Quinta Holdings Inc. 2,003,222 37,881
  Penske Automotive Group Inc. 851,925 37,766
  Lions Gate Entertainment Corp. Class A 1,436,166 37,096
* Asbury Automotive Group Inc. 514,713 34,743
  Papa John's International Inc. 602,043 34,497
  World Wrestling Entertainment Inc. Class A 936,790 33,734
  Wingstop Inc. 712,722 33,662
*,^ Trade Desk Inc. Class A 658,493 32,674
  Caleres Inc. 968,798 32,552
* MSG Networks Inc. 1,438,625 32,513
  Group 1 Automotive Inc. 488,722 31,933
  GameStop Corp. Class A 2,483,053 31,336
  Tailored Brands Inc. 1,220,419 30,584
  Guess? Inc. 1,423,143 29,516
*,^ Pandora Media Inc. 5,834,727 29,349
  Chico's FAS Inc. 3,161,634 28,581
* Liberty Media Corp-Liberty Formula One Class A 955,044 27,973

 

 

  Office Depot Inc. 12,831,279 27,587
  Dine Brands Global Inc. 420,621 27,584
  Gannett Co. Inc. 2,738,545 27,331
  Strayer Education Inc. 269,521 27,235
* Quotient Technology Inc. 1,985,219 26,006
  International Speedway Corp. Class A 576,676 25,431
* Diplomat Pharmacy Inc. 1,259,429 25,377
  Capella Education Co. 284,554 24,856
* Hertz Global Holdings Inc. 1,239,362 24,601
^ Dillard's Inc. Class A 305,552 24,548
* Gray Television Inc. 1,932,453 24,542
  Scholastic Corp. 616,703 23,953
* Denny's Corp. 1,541,520 23,786
  Core-Mark Holding Co. Inc. 1,096,234 23,306
  Sonic Corp. 917,299 23,143
* Belmond Ltd. Class A 2,034,837 22,688
*,^ Party City Holdco Inc. 1,445,303 22,547
*,^ JC Penney Co. Inc. 7,232,762 21,843
  New Media Investment Group Inc. 1,260,278 21,601
  BJ's Restaurants Inc. 479,585 21,533
* Career Education Corp. 1,611,595 21,176
* Simply Good Foods Co. 1,532,983 21,048
* National Vision Holdings Inc. 641,519 20,727
* Liberty Media Corp-Liberty Braves Class C 872,208 19,904
  PetMed Express Inc. 476,525 19,895
*,^ ANGI Homeservices Inc. Class A 1,455,876 19,771
*,^ SeaWorld Entertainment Inc. 1,328,010 19,694
* Providence Service Corp. 279,757 19,342
* Genesco Inc. 473,541 19,226
* Liberty TripAdvisor Holdings Inc. Class A 1,773,367 19,064
*,^ Shake Shack Inc. Class A 454,018 18,901
* SP Plus Corp. 523,667 18,643
* Red Robin Gourmet Burgers Inc. 319,254 18,517
  AMC Entertainment Holdings Inc. Class A 1,302,966 18,307
  Ruth's Hospitality Group Inc. 733,205 17,927
* Houghton Mifflin Harcourt Co. 2,567,479 17,844
* Laureate Education Inc. Class A 1,273,213 17,507
  Entercom Communications Corp. Class A 1,792,081 17,294
* American Public Education Inc. 386,642 16,626
* Lumber Liquidators Holdings Inc. 692,857 16,573
*,^ Trupanion Inc. 550,941 16,468
  EW Scripps Co. Class A 1,364,904 16,365
* TrueCar Inc. 1,704,237 16,122
  Buckle Inc. 726,538 16,093
*,^ Conn's Inc. 459,270 15,615
* At Home Group Inc. 467,401 14,976
  SpartanNash Co. 857,887 14,764
*,^ Overstock.com Inc. 400,928 14,534
  SUPERVALU Inc. 950,620 14,478
*,^ Roku Inc. 446,096 13,874
* Express Inc. 1,920,326 13,750
  Marcus Corp. 451,139 13,692
* K12 Inc. 959,312 13,603
* Regis Corp. 858,632 12,991
* Chefs' Warehouse Inc. 555,902 12,786
* XO Group Inc. 614,493 12,751
* MarineMax Inc. 644,954 12,544

 

 

^ Emerald Expositions Events Inc. 631,085 12,294
  Finish Line Inc. Class A 882,946 11,955
* Monarch Casino & Resort Inc. 280,430 11,859
  Ingles Markets Inc. Class A 344,382 11,657
* QuinStreet Inc. 908,453 11,601
* Biglari Holdings Inc. 28,181 11,509
* Zumiez Inc. 475,516 11,365
* Hibbett Sports Inc. 474,282 11,359
*,^ Cargurus Inc. 291,766 11,224
  Sonic Automotive Inc. Class A 586,860 11,121
* Chuy's Holdings Inc. 415,327 10,882
* Titan Machinery Inc. 454,477 10,707
* Golden Entertainment Inc. 448,695 10,423
* Care.com Inc. 627,624 10,211
* TechTarget Inc. 504,191 10,023
  Citi Trends Inc. 320,312 9,901
* MDC Partners Inc. Class A 1,369,011 9,857
  Carriage Services Inc. Class A 353,152 9,768
* Fiesta Restaurant Group Inc. 526,605 9,742
  Weis Markets Inc. 234,407 9,606
  National CineMedia Inc. 1,807,282 9,380
* Carrols Restaurant Group Inc. 836,685 9,371
* Ascena Retail Group Inc. 4,557,790 9,161
* America's Car-Mart Inc. 178,431 9,002
^ Rent-A-Center Inc. 1,040,777 8,982
* Boot Barn Holdings Inc. 496,586 8,804
  News Corp. Class B 544,791 8,771
  Haverty Furniture Cos. Inc. 428,962 8,644
* Del Frisco's Restaurant Group Inc. 553,346 8,439
  Winmark Corp. 63,178 8,264
*,^ Carvana Co. 350,630 8,040
  Cato Corp. Class A 542,921 8,003
  Entravision Communications Corp. Class A 1,642,501 7,720
* Potbelly Corp. 631,759 7,613
* Del Taco Restaurants Inc. 715,383 7,411
*,^ Zoe's Kitchen Inc. 499,863 7,218
* tronc Inc. 431,769 7,090
* Drive Shack Inc. 1,462,009 6,988
* 1-800-Flowers.com Inc. Class A 585,063 6,904
  RCI Hospitality Holdings Inc. 237,770 6,750
  Barnes & Noble Inc. 1,349,297 6,679
  Shoe Carnival Inc. 271,864 6,470
* Reading International Inc. Class A 373,363 6,216
  Pier 1 Imports Inc. 1,924,117 6,196
*,^ GNC Holdings Inc. Class A 1,599,949 6,176
* PlayAGS Inc. 258,401 6,010
* Bojangles' Inc. 424,423 5,878
  Nathan's Famous Inc. 78,056 5,768
  Tile Shop Holdings Inc. 950,425 5,703
*,^ Daily Journal Corp. 24,749 5,655
* Clean Energy Fuels Corp. 3,362,440 5,548
*,^ Lands' End Inc. 237,456 5,545
* Barnes & Noble Education Inc. 798,762 5,503
* Lindblad Expeditions Holdings Inc. 529,965 5,443
* Century Casinos Inc. 710,509 5,300
* El Pollo Loco Holdings Inc. 522,466 4,963
* Liberty Media Corp-Liberty Braves Class A 217,655 4,947

 

 

  Village Super Market Inc. Class A 185,950 4,904
* Habit Restaurants Inc. Class A 548,539 4,827
  Speedway Motorsports Inc. 267,517 4,767
*,^ Duluth Holdings Inc. 249,048 4,665
* Gaia Inc. Class A 300,545 4,658
* Fogo De Chao Inc. 294,255 4,635
*,^ Stitch Fix Inc. Class A 225,971 4,583
* Hemisphere Media Group Inc. Class A 405,908 4,566
* Liquidity Services Inc. 697,626 4,535
* Bridgepoint Education Inc. Class A 662,381 4,464
* Avid Technology Inc. 964,656 4,380
  CSS Industries Inc. 249,208 4,361
* Cambium Learning Group Inc. 388,531 4,352
  Clear Channel Outdoor Holdings Inc. Class A 886,179 4,342
  Saga Communications Inc. Class A 115,556 4,304
* Francesca's Holdings Corp. 886,858 4,257
* Red Lion Hotels Corp. 426,571 4,159
*,^ Tuesday Morning Corp. 1,034,055 4,085
* Kirkland's Inc. 396,140 3,839
* J Alexander's Holdings Inc. 329,963 3,778
^ Natural Health Trends Corp. 197,970 3,763
  Tilly's Inc. Class A 331,331 3,744
* Smart & Final Stores Inc. 633,691 3,517
^ Big 5 Sporting Goods Corp. 475,843 3,450
  Collectors Universe Inc. 211,658 3,325
*,^ Sportsman's Warehouse Holdings Inc. 750,796 3,063
*,^ Boston Omaha Corp. Class A 137,918 3,015
* Build-A-Bear Workshop Inc. 320,259 2,930
* Town Sports International Holdings Inc. 381,513 2,900
* Digital Turbine Inc. 1,437,079 2,889
*,^ Remark Holdings Inc. 492,206 2,796
*,^ Noodles & Co. Class A 366,832 2,770
  Marchex Inc. Class B 929,908 2,539
* Vitamin Shoppe Inc. 580,350 2,525
  Liberty Tax Inc. 241,260 2,437
*,^ Container Store Group Inc. 440,571 2,397
* New York & Co. Inc. 708,352 2,394
* Leaf Group Ltd. 335,611 2,366
  AH Belo Corp. Class A 428,938 2,209
* RealNetworks Inc. 718,845 2,200
*,^ Lee Enterprises Inc. 1,126,859 2,197
* PCM Inc. 246,655 2,047
*,^ Global Eagle Entertainment Inc. 1,375,392 2,022
* Full House Resorts Inc. 629,240 2,020
*,^ Sears Holdings Corp. 706,145 1,885
*,^ Inspired Entertainment Inc. 341,228 1,877
^ Fred's Inc. Class A 626,723 1,874
* TheStreet Inc. 1,030,022 1,844
* Rubicon Project Inc. 1,001,812 1,803
  Townsquare Media Inc. Class A 226,296 1,795
* Natural Grocers by Vitamin Cottage Inc. 241,385 1,728
  A-Mark Precious Metals Inc. 136,129 1,668
  Peak Resorts Inc. 336,921 1,634
*,^ Cogint Inc. 643,142 1,608
* FTD Cos. Inc. 418,249 1,522
* Educational Development Corp. 57,356 1,434
* J. Jill Inc. 322,291 1,425

 

 

*,^ Blue Apron Holdings Inc. Class A 699,272 1,399
* EVINE Live Inc. 1,311,246 1,337
^ Stage Stores Inc. 604,914 1,319
*,^ Papa Murphy's Holdings Inc. 267,258 1,299
* Destination XL Group Inc. 740,016 1,295
*,^ Stein Mart Inc. 781,770 1,188
* Urban One Inc. 577,563 1,184
*,^ Profire Energy Inc. 416,126 1,136
* Travelzoo 152,382 1,105
  Salem Media Group Inc. Class A 304,136 1,095
  Wayside Technology Group Inc. 82,067 1,067
  Ark Restaurants Corp. 41,710 1,001
* Ascent Capital Group Inc. Class A 260,147 957
* Bravo Brio Restaurant Group Inc. 238,286 953
  Dover Motorsports Inc. 442,500 929
*,^ McClatchy Co. Class A 96,865 896
  Beasley Broadcast Group Inc. Class A 76,851 868
* Luby's Inc. 308,772 858
* AutoWeb Inc. 283,057 844
*,^ Chicken Soup For The Soul Entertainment Inc. 116,305 828
*,^ Destination Maternity Corp. 296,396 768
* Emmis Communications Corp. Class A 166,128 766
  Harte-Hanks Inc. 78,963 728
* Nevada Gold & Casinos Inc. 313,955 688
*,^ Famous Dave's of America Inc. 94,194 669
*,^ Social Reality Inc. 147,420 565
* ONE Group Hospitality Inc. 197,752 544
*,^ Red Violet Inc. 85,752 523
* Christopher & Banks Corp. 451,842 483
*,^ Good Times Restaurants Inc. 154,244 470
  Canterbury Park Holding Corp. 31,705 458
*,^ Interpace Diagnostics Group Inc. 504,537 445
*,^ Sears Hometown and Outlet Stores Inc. 125,995 378
*,^ Ifresh Inc. 39,610 325
*,^ Kona Grill Inc. 161,160 306
* Rush Enterprises Inc. Class B 7,149 289
*,^ Live Ventures Inc. 18,652 227
  National American University Holdings Inc. 170,808 222
*,^ Genius Brands International Inc. 68,896 189
  Value Line Inc. 9,438 173
* Diversified Restaurant Holdings Inc. 126,397 171
* Spark Networks SE ADR 11,270 168
* Insignia Systems Inc. 96,450 152
  Gaming Partners International Corp. 13,878 137
* Dover Downs Gaming & Entertainment Inc. 102,519 136
*,^ SPAR Group Inc. 98,012 135
*,^ Rave Restaurant Group Inc. 109,555 135
*,^ Eastside Distilling Inc. 19,312 134
^ FAT Brands Inc. 5,432 36
* NTN Buzztime Inc. 4,842 33
* Youngevity International Inc. 7,184 30
  Haverty Furniture Cos. Inc. Class A 1,375 28
  Viacom Inc. Class A 300 12
* YogaWorks Inc. 3,300 9
*,2 Universal Travel Group 42,843 7
* DGSE Cos. Inc. 2,900 2
* Urban One Inc. Class A 950 2

 

 

* RLJ Entertainment Inc. 300 1
    87,353,595
Financials (20.4%)    
JPMorgan Chase & Co. 85,597,224 9,413,127
* Berkshire Hathaway Inc. Class B 46,593,241 9,294,420
Bank of America Corp. 240,033,563 7,198,607
Wells Fargo & Co. 109,339,917 5,730,505
Visa Inc. Class A 44,478,616 5,320,532
Citigroup Inc. 65,217,396 4,402,174
Mastercard Inc. Class A 23,034,758 4,034,768
Goldman Sachs Group Inc. 8,372,260 2,108,637
US Bancorp 38,711,467 1,954,929
Morgan Stanley 33,439,795 1,804,411
PNC Financial Services Group Inc. 11,146,231 1,685,756
American Express Co. 16,972,434 1,583,189
American Tower Corp. 10,879,233 1,581,188
Charles Schwab Corp. 29,896,672 1,561,204
BlackRock Inc. 2,769,607 1,500,352
Chubb Ltd. 10,870,486 1,486,756
CME Group Inc. 8,394,881 1,357,788
Simon Property Group Inc. 7,904,486 1,220,057
American International Group Inc. 22,254,177 1,211,072
S&P Global Inc. 6,264,649 1,196,924
Bank of New York Mellon Corp. 22,501,106 1,159,482
Capital One Financial Corp. 11,994,824 1,149,344
Crown Castle International Corp. 10,231,415 1,121,465
Prudential Financial Inc. 10,401,875 1,077,114
Intercontinental Exchange Inc. 14,368,145 1,041,978
Marsh & McLennan Cos. Inc. 12,523,395 1,034,307
BB&T Corp. 19,190,704 998,684
MetLife Inc. 20,584,830 944,638
Travelers Cos. Inc. 6,690,685 929,069
Progressive Corp. 14,362,756 875,123
State Street Corp. 8,619,018 859,575
Aon plc 6,073,375 852,277
Aflac Inc. 19,236,504 841,789
Allstate Corp. 8,748,745 829,381
Prologis Inc. 13,076,441 823,685
Equinix Inc. 1,930,405 807,180
SunTrust Banks Inc. 11,610,599 789,985
Public Storage 3,647,861 730,995
Weyerhaeuser Co. 18,648,637 652,702
Moody's Corp. 4,008,725 646,607
Discover Financial Services 8,747,179 629,185
T. Rowe Price Group Inc. 5,724,119 618,033
M&T Bank Corp. 3,337,071 615,222
Synchrony Financial 18,333,282 614,715
AvalonBay Communities Inc. 3,407,020 560,319
Equity Residential 9,080,180 559,521
Northern Trust Corp. 5,330,350 549,719
Fifth Third Bancorp 17,124,845 543,714
Ameriprise Financial Inc. 3,646,406 539,449
Digital Realty Trust Inc. 5,072,392 534,529
Regions Financial Corp. 28,571,206 530,853
KeyCorp 26,503,150 518,137
Citizens Financial Group Inc. 12,006,488 504,032
Welltower Inc. 9,137,178 497,337

 

 

* SBA Communications Corp. Class A 2,900,110 495,687
Willis Towers Watson plc 3,256,944 495,674
Boston Properties Inc. 3,811,358 469,636
* IHS Markit Ltd. 9,422,671 454,550
Hartford Financial Services Group Inc. 8,793,377 453,035
Ventas Inc. 8,790,772 435,407
Principal Financial Group Inc. 7,135,283 434,610
TD Ameritrade Holding Corp. 7,002,548 414,761
Comerica Inc. 4,274,459 410,049
Huntington Bancshares Inc. 27,130,298 409,668
Lincoln National Corp. 5,377,215 392,859
Essex Property Trust Inc. 1,629,750 392,248
* Markel Corp. 326,677 382,294
First Republic Bank 3,960,957 366,824
* E*TRADE Financial Corp. 6,563,948 363,708
Realty Income Corp. 7,008,279 362,538
* CBRE Group Inc. Class A 7,505,093 354,391
XL Group Ltd. 6,313,940 348,908
Equifax Inc. 2,959,821 348,697
Loews Corp. 6,894,958 342,886
Host Hotels & Resorts Inc. 18,225,506 339,723
MSCI Inc. Class A 2,223,291 332,315
Invesco Ltd. 10,015,345 320,591
Cboe Global Markets Inc. 2,775,762 316,714
GGP Inc. 15,362,976 314,327
* SVB Financial Group 1,301,821 312,450
Alexandria Real Estate Equities Inc. 2,494,465 311,534
Arthur J Gallagher & Co. 4,467,539 307,054
Annaly Capital Management Inc. 28,560,704 297,888
* Berkshire Hathaway Inc. Class A 984 294,314
Ally Financial Inc. 10,723,311 291,138
Raymond James Financial Inc. 3,231,860 288,961
Cincinnati Financial Corp. 3,852,187 286,063
Vornado Realty Trust 4,221,016 284,074
Franklin Resources Inc. 8,158,847 282,949
* Arch Capital Group Ltd. 3,203,732 274,207
HCP Inc. 11,588,331 269,197
SEI Investments Co. 3,495,980 261,884
* Liberty Broadband Corp. 3,042,518 260,713
Unum Group 5,455,600 259,741
Affiliated Managers Group Inc. 1,370,076 259,739
Everest Re Group Ltd. 1,007,205 258,670
Zions Bancorporation 4,892,448 257,979
Extra Space Storage Inc. 2,952,382 257,920
FNF Group 6,399,840 256,122
Mid-America Apartment Communities Inc. 2,803,987 255,836
Nasdaq Inc. 2,869,865 247,440
Reinsurance Group of America Inc. Class A 1,585,636 244,188
UDR Inc. 6,620,270 235,814
SL Green Realty Corp. 2,432,171 235,507
Duke Realty Corp. 8,791,453 232,798
Torchmark Corp. 2,688,005 226,249
Regency Centers Corp. 3,807,381 224,559
Voya Financial Inc. 4,424,224 223,423
East West Bancorp Inc. 3,572,416 223,419
Alleghany Corp. 361,227 221,952
Iron Mountain Inc. 6,695,832 220,025

 

 

Western Union Co. 11,311,841 217,527
Federal Realty Investment Trust 1,807,747 209,898
American Financial Group Inc. 1,743,294 195,632
Jones Lang LaSalle Inc. 1,118,059 195,258
Macerich Co. 3,483,239 195,131
Camden Property Trust 2,291,848 192,928
MarketAxess Holdings Inc. 883,108 192,023
* Athene Holding Ltd. Class A 3,832,040 183,210
* Signature Bank 1,282,187 182,006
AGNC Investment Corp. 9,590,858 181,459
Equity LifeStyle Properties Inc. 1,973,866 173,246
Kilroy Realty Corp. 2,438,785 173,056
Lazard Ltd. Class A 3,198,805 168,129
VEREIT Inc. 24,014,763 167,143
WP Carey Inc. 2,665,582 165,239
WR Berkley Corp. 2,251,258 163,666
Sun Communities Inc. 1,779,403 162,584
Invitation Homes Inc. 7,020,291 160,273
CIT Group Inc. 3,084,683 158,861
Apartment Investment & Management Co. 3,872,335 157,798
PacWest Bancorp 3,185,347 157,770
People's United Financial Inc. 8,451,518 157,705
Eaton Vance Corp. 2,759,048 153,596
* Black Knight Inc. 3,247,331 152,949
First American Financial Corp. 2,605,309 152,880
First Horizon National Corp. 8,004,377 150,722
Gaming and Leisure Properties Inc. 4,501,737 150,673
Cullen/Frost Bankers Inc. 1,417,402 150,344
National Retail Properties Inc. 3,801,682 149,254
New York Community Bancorp Inc. 11,406,089 148,621
Brown & Brown Inc. 5,825,996 148,213
Janus Henderson Group plc 4,452,895 147,346
Douglas Emmett Inc. 3,993,269 146,793
Bank of the Ozarks 3,001,385 144,877
Liberty Property Trust 3,630,126 144,225
Kimco Realty Corp. 9,977,256 143,673
Commerce Bancshares Inc. 2,386,168 142,955
Synovus Financial Corp. 2,793,137 139,489
RenaissanceRe Holdings Ltd. 987,714 136,808
* Zillow Group Inc. 2,542,821 136,804
* Western Alliance Bancorp 2,349,574 136,534
New Residential Investment Corp. 8,225,864 135,315
Healthcare Trust of America Inc. Class A 5,073,247 134,187
* Howard Hughes Corp. 954,071 132,740
Starwood Property Trust Inc. 6,333,790 132,693
^ Omega Healthcare Investors Inc. 4,890,953 132,251
Lamar Advertising Co. Class A 2,073,435 131,995
Old Republic International Corp. 6,148,051 131,876
DCT Industrial Trust Inc. 2,319,206 130,664
American Campus Communities Inc. 3,377,631 130,444
LPL Financial Holdings Inc. 2,105,421 128,578
CubeSmart 4,493,800 126,725
Webster Financial Corp. 2,281,099 126,373
Hudson Pacific Properties Inc. 3,860,717 125,589
Validus Holdings Ltd. 1,856,068 125,192
American Homes 4 Rent Class A 6,182,528 124,145
Hanover Insurance Group Inc. 1,048,821 123,646

 

 

  Forest City Realty Trust Inc. Class A 6,055,249 122,679
  CyrusOne Inc. 2,376,658 121,709
* Brighthouse Financial Inc. 2,367,285 121,678
  Park Hotels & Resorts Inc. 4,446,328 120,140
* GCI Liberty Inc. - Class A 2,257,908 119,353
  Wintrust Financial Corp. 1,386,466 119,305
  Prosperity Bancshares Inc. 1,640,815 119,172
  Sterling Bancorp 5,283,279 119,138
* MGIC Investment Corp. 9,153,212 118,992
  Assurant Inc. 1,300,333 118,863
  Pinnacle Financial Partners Inc. 1,825,204 117,178
  Medical Properties Trust Inc. 8,986,288 116,822
  Umpqua Holdings Corp. 5,440,348 116,478
  Brixmor Property Group Inc. 7,517,272 114,638
  Interactive Brokers Group Inc. 1,673,040 112,495
  Axis Capital Holdings Ltd. 1,952,974 112,433
  Rayonier Inc. 3,188,929 112,187
  Highwoods Properties Inc. 2,533,259 111,007
*,^ Credit Acceptance Corp. 333,352 110,143
* Texas Capital Bancshares Inc. 1,220,207 109,697
  Hancock Holding Co. 2,097,914 108,462
  STORE Capital Corp. 4,297,910 106,674
  FNB Corp. 7,927,538 106,625
  Primerica Inc. 1,094,484 105,727
  Associated Banc-Corp 4,252,854 105,683
  BankUnited Inc. 2,636,361 105,402
  Popular Inc. 2,524,277 105,060
  IBERIABANK Corp. 1,336,438 104,242
  Radian Group Inc. 5,331,455 101,511
  EPR Properties 1,812,896 100,434
  Assured Guaranty Ltd. 2,757,226 99,812
  Hospitality Properties Trust 3,855,358 97,695
  Chemical Financial Corp. 1,763,941 96,452
  Valley National Bancorp 7,727,443 96,284
  Life Storage Inc. 1,146,690 95,772
  Stifel Financial Corp. 1,606,034 95,125
  Apple Hospitality REIT Inc. 5,350,925 94,016
* Essent Group Ltd. 2,180,624 92,807
  Senior Housing Properties Trust 5,888,783 92,218
* Equity Commonwealth 2,999,083 91,982
  Realogy Holdings Corp. 3,348,730 91,353
  Cousins Properties Inc. 10,338,116 89,735
  JBG SMITH Properties 2,650,953 89,364
  FirstCash Inc. 1,098,535 89,256
  CNO Financial Group Inc. 4,101,125 88,871
  Home BancShares Inc. 3,889,169 88,712
  Selective Insurance Group Inc. 1,451,725 88,120
  Bank of Hawaii Corp. 1,053,484 87,545
  United Bankshares Inc. 2,477,131 87,319
  Investors Bancorp Inc. 6,398,046 87,269
  TCF Financial Corp. 3,795,523 86,576
  Spirit Realty Capital Inc. 11,126,436 86,341
  First Industrial Realty Trust Inc. 2,946,530 86,127
  Healthcare Realty Trust Inc. 3,097,985 85,845
  Navient Corp. 6,533,469 85,719
  Gramercy Property Trust 3,938,091 85,575
  Legg Mason Inc. 2,103,453 85,505

 

 

Weingarten Realty Investors 3,017,705 84,737
Sunstone Hotel Investors Inc. 5,552,925 84,516
CoreSite Realty Corp. 842,507 84,470
RLJ Lodging Trust 4,317,944 83,941
Ryman Hospitality Properties Inc. 1,073,566 83,148
Taubman Centers Inc. 1,428,316 81,285
UMB Financial Corp. 1,120,743 81,131
BGC Partners Inc. Class A 6,031,561 81,125
LaSalle Hotel Properties 2,785,873 80,818
Colony NorthStar Inc. Class A 14,368,920 80,753
MB Financial Inc. 1,978,067 80,072
* Zillow Group Inc. Class A 1,466,287 79,180
Blackstone Mortgage Trust Inc. Class A 2,486,533 78,127
Sabra Health Care REIT Inc. 4,406,330 77,772
Fulton Financial Corp. 4,376,194 77,677
* HealthEquity Inc. 1,275,909 77,244
Cathay General Bancorp 1,920,479 76,781
PotlatchDeltic Corp. 1,470,176 76,523
Chimera Investment Corp. 4,377,823 76,218
Columbia Banking System Inc. 1,812,472 76,033
BancorpSouth Bank 2,378,731 75,644
Glacier Bancorp Inc. 1,956,081 75,074
Federated Investors Inc. Class B 2,232,524 74,566
South State Corp. 873,004 74,467
MFA Financial Inc. 9,817,720 73,927
Washington Federal Inc. 2,136,195 73,912
* SLM Corp. 6,544,239 73,361
First Financial Bankshares Inc. 1,573,983 72,875
* Green Dot Corp. Class A 1,135,494 72,853
Erie Indemnity Co. Class A 613,364 72,156
Paramount Group Inc. 5,060,714 72,065
White Mountains Insurance Group Ltd. 85,663 70,460
Brandywine Realty Trust 4,367,034 69,349
Physicians Realty Trust 4,414,144 68,728
EastGroup Properties Inc. 815,841 67,437
Community Bank System Inc. 1,257,568 67,355
Corporate Office Properties Trust 2,605,669 67,304
^ Uniti Group Inc. 4,122,025 66,983
Evercore Inc. Class A 756,596 65,975
Aspen Insurance Holdings Ltd. 1,467,555 65,820
National Health Investors Inc. 977,604 65,783
Empire State Realty Trust Inc. 3,912,032 65,683
RLI Corp. 1,035,084 65,614
Two Harbors Investment Corp. 4,239,941 65,168
Retail Properties of America Inc. 5,527,227 64,447
ProAssurance Corp. 1,325,803 64,368
Outfront Media Inc. 3,411,074 63,924
First Citizens BancShares Inc. Class A 153,069 63,254
First Midwest Bancorp Inc. 2,555,337 62,836
GEO Group Inc. 3,066,968 62,781
* Blackhawk Network Holdings Inc. 1,394,031 62,313
Old National Bancorp 3,670,972 62,039
Piedmont Office Realty Trust Inc. Class A 3,498,639 61,541
American Equity Investment Life Holding Co. 2,095,624 61,528
Education Realty Trust Inc. 1,875,757 61,431
Columbia Property Trust Inc. 2,946,459 60,285
Great Western Bancorp Inc. 1,483,638 59,746

 

 

  CVB Financial Corp. 2,634,660 59,649
  Union Bankshares Corp. 1,623,805 59,610
  BOK Financial Corp. 592,731 58,674
  Hope Bancorp Inc. 3,214,747 58,476
  Simmons First National Corp. Class A 2,055,251 58,472
  United Community Banks Inc. 1,845,118 58,398
  Pebblebrook Hotel Trust 1,692,235 58,128
*,^ LendingTree Inc. 177,021 58,089
  STAG Industrial Inc. 2,397,086 57,338
  CoreCivic Inc. 2,927,744 57,150
*,^ BofI Holding Inc. 1,391,999 56,418
  Rexford Industrial Realty Inc. 1,940,339 55,862
* OneMain Holdings Inc. 1,853,119 55,482
  Kennedy-Wilson Holdings Inc. 3,171,354 55,182
  International Bancshares Corp. 1,403,996 54,615
  Urban Edge Properties 2,555,512 54,560
  Financial Engines Inc. 1,556,344 54,472
  PS Business Parks Inc. 481,810 54,464
  Kemper Corp. 951,402 54,230
  DDR Corp. 7,346,222 53,848
  Apollo Commercial Real Estate Finance Inc. 2,971,844 53,434
  Washington REIT 1,956,500 53,412
* FCB Financial Holdings Inc. Class A 1,044,678 53,383
  Xenia Hotels & Resorts Inc. 2,664,790 52,550
  DiamondRock Hospitality Co. 4,921,136 51,377
^ Tanger Factory Outlet Centers Inc. 2,326,115 51,175
  Acadia Realty Trust 2,075,374 51,054
  Trustmark Corp. 1,622,647 50,562
  First Merchants Corp. 1,212,477 50,560
* Enstar Group Ltd. 239,039 50,258
  Renasant Corp. 1,175,336 50,022
  Moelis & Co. Class A 980,667 49,867
* HRG Group Inc. 2,996,089 49,406
  Independent Bank Corp. 680,222 48,670
  LegacyTexas Financial Group Inc. 1,136,040 48,645
  Retail Opportunity Investments Corp. 2,745,887 48,520
* Eagle Bancorp Inc. 808,173 48,369
  Ameris Bancorp 890,814 47,124
  Towne Bank 1,608,722 46,009
  Terreno Realty Corp. 1,332,806 45,995
  Argo Group International Holdings Ltd. 795,424 45,657
  ServisFirst Bancshares Inc. 1,117,819 45,629
  Banner Corp. 816,422 45,303
* Quality Care Properties Inc. 2,326,918 45,212
  HFF Inc. Class A 903,568 44,907
  WesBanco Inc. 1,047,653 44,316
  Invesco Mortgage Capital Inc. 2,685,963 43,996
* Pacific Premier Bancorp Inc. 1,087,247 43,707
  Santander Consumer USA Holdings Inc. 2,671,508 43,546
  Horace Mann Educators Corp. 1,007,254 43,060
  First Financial Bancorp 1,464,793 42,992
  Lexington Realty Trust 5,393,230 42,445
  Hilltop Holdings Inc. 1,797,502 42,169
  CenterState Bank Corp. 1,578,297 41,872
  Walker & Dunlop Inc. 689,875 40,992
* PRA Group Inc. 1,063,971 40,431
  Virtu Financial Inc. Class A 1,218,190 40,200

 

 

First Hawaiian Inc. 1,412,492 39,310
Artisan Partners Asset Management Inc. Class A 1,179,019 39,261
Waddell & Reed Financial Inc. Class A 1,942,315 39,254
Chesapeake Lodging Trust 1,403,276 39,025
Alexander & Baldwin Inc. 1,686,168 39,001
QTS Realty Trust Inc. Class A 1,059,707 38,383
Capitol Federal Financial Inc. 3,086,927 38,124
Northwest Bancshares Inc. 2,288,593 37,899
Provident Financial Services Inc. 1,468,323 37,574
LTC Properties Inc. 981,804 37,309
WSFS Financial Corp. 775,619 37,152
NBT Bancorp Inc. 1,035,969 36,756
Westamerica Bancorporation 623,092 36,189
Berkshire Hills Bancorp Inc. 950,215 36,061
Heartland Financial USA Inc. 670,783 35,585
Navigators Group Inc. 616,784 35,558
* FGL Holdings 3,493,823 35,462
Four Corners Property Trust Inc. 1,529,713 35,321
National General Holdings Corp. 1,446,739 35,170
Summit Hotel Properties Inc. 2,563,489 34,889
* Genworth Financial Inc. Class A 12,294,659 34,794
Agree Realty Corp. 724,158 34,789
Park National Corp. 330,382 34,280
Houlihan Lokey Inc. Class A 764,773 34,109
VICI Properties Inc. 1,860,149 34,078
Mack-Cali Realty Corp. 2,016,103 33,689
First Commonwealth Financial Corp. 2,384,195 33,689
Government Properties Income Trust 2,436,087 33,277
S&T Bancorp Inc. 831,754 33,220
American Assets Trust Inc. 982,818 32,836
AmTrust Financial Services Inc. 2,660,151 32,746
* LendingClub Corp. 9,285,392 32,499
First Busey Corp. 1,071,306 31,839
* Cannae Holdings Inc. 1,663,231 31,369
Kite Realty Group Trust 2,052,736 31,263
Employers Holdings Inc. 772,832 31,261
* Third Point Reinsurance Ltd. 2,239,594 31,242
Mercury General Corp. 678,231 31,110
Independent Bank Group Inc. 437,912 30,960
National Storage Affiliates Trust 1,232,683 30,916
* First BanCorp 5,108,404 30,753
Washington Prime Group Inc. 4,600,878 30,688
Select Income REIT 1,566,205 30,510
Sandy Spring Bancorp Inc. 775,160 30,045
Infinity Property & Casualty Corp. 252,598 29,908
Boston Private Financial Holdings Inc. 1,985,882 29,888
First Interstate BancSystem Inc. Class A 755,606 29,884
Piper Jaffray Cos. 356,321 29,592
Brookline Bancorp Inc. 1,811,199 29,341
Redwood Trust Inc. 1,894,347 29,306
Ladder Capital Corp. Class A 1,927,146 29,061
* Seacoast Banking Corp. of Florida 1,095,598 29,001
State Bank Financial Corp. 918,151 27,554
Lakeland Financial Corp. 594,622 27,489
Global Net Lease Inc. 1,624,954 27,429
Tompkins Financial Corp. 360,568 27,317
Monmouth Real Estate Investment Corp. 1,809,692 27,218

 

 

  Safety Insurance Group Inc. 352,844 27,116
* Encore Capital Group Inc. 599,480 27,097
  PennyMac Mortgage Investment Trust 1,496,170 26,976
  Beneficial Bancorp Inc. 1,692,776 26,323
  AMERISAFE Inc. 475,477 26,270
  WisdomTree Investments Inc. 2,857,080 26,199
  RE/MAX Holdings Inc. Class A 433,294 26,193
  First Bancorp 733,512 26,150
  OceanFirst Financial Corp. 972,047 26,002
  NRG Yield Inc. 1,504,507 25,577
  Heritage Financial Corp. 835,608 25,570
  CYS Investments Inc. 3,789,420 25,465
  City Holding Co. 371,285 25,455
  Enterprise Financial Services Corp. 536,691 25,171
  CareTrust REIT Inc. 1,876,703 25,148
* NMI Holdings Inc. Class A 1,495,644 24,753
  Meta Financial Group Inc. 225,493 24,624
  MainSource Financial Group Inc. 602,939 24,509
  Kinsale Capital Group Inc. 476,328 24,450
  Universal Insurance Holdings Inc. 765,601 24,423
  American National Insurance Co. 207,956 24,323
  Southside Bancshares Inc. 698,026 24,249
  Meridian Bancorp Inc. 1,195,623 24,092
  Stewart Information Services Corp. 546,540 24,015
  Ramco-Gershenson Properties Trust 1,941,102 23,992
  Hannon Armstrong Sustainable Infrastructure Capital Inc. 1,230,336 23,992
  United Fire Group Inc. 490,450 23,473
  ARMOUR Residential REIT Inc. 1,000,074 23,282
  Hanmi Financial Corp. 756,725 23,269
  National Bank Holdings Corp. Class A 699,445 23,257
  Kearny Financial Corp. 1,787,351 23,236
  BancFirst Corp. 432,356 22,958
  Lakeland Bancorp Inc. 1,136,122 22,552
^ Seritage Growth Properties Class A 628,750 22,352
  Americold Realty Trust 1,167,669 22,279
  TFS Financial Corp. 1,492,151 21,920
  James River Group Holdings Ltd. 612,410 21,722
  Tier REIT Inc. 1,174,009 21,696
  ConnectOne Bancorp Inc. 751,502 21,643
  Easterly Government Properties Inc. 1,053,486 21,491
  Chatham Lodging Trust 1,117,759 21,405
*,^ Redfin Corp. 937,159 21,395
  TPG RE Finance Trust Inc. 1,070,751 21,297
  Franklin Street Properties Corp. 2,512,440 21,130
  PJT Partners Inc. 421,734 21,129
  Preferred Bank 327,797 21,045
  Virtus Investment Partners Inc. 169,529 20,988
  Cohen & Steers Inc. 514,289 20,911
  Bryn Mawr Bank Corp. 470,571 20,682
  Central Pacific Financial Corp. 710,665 20,226
  Capstead Mortgage Corp. 2,333,579 20,185
  United Financial Bancorp Inc. 1,243,834 20,150
* Customers Bancorp Inc. 687,772 20,049
  Banc of California Inc. 1,038,656 20,046
*,^ MBIA Inc. 2,161,351 20,014
  Cadence BanCorp Class A 734,968 20,013
  Getty Realty Corp. 782,873 19,744

 

 

Alexander's Inc. 51,620 19,679
MTGE Investment Corp. 1,090,401 19,518
Independence Realty Trust Inc. 2,095,330 19,235
TrustCo Bank Corp. NY 2,273,847 19,214
InfraREIT Inc. 970,922 18,865
Univest Corp. of Pennsylvania 679,097 18,811
Washington Trust Bancorp Inc. 348,606 18,738
TriCo Bancshares 503,074 18,724
CoBiz Financial Inc. 953,946 18,697
Universal Health Realty Income Trust 306,496 18,420
* Flagstar Bancorp Inc. 513,393 18,174
Carolina Financial Corp. 462,485 18,166
* Liberty Broadband Corp. Class A 212,770 18,043
* Triumph Bancorp Inc. 434,635 17,907
* HomeStreet Inc. 623,796 17,872
* St. Joe Co. 945,308 17,819
Stock Yards Bancorp Inc. 506,230 17,769
Horizon Bancorp 586,714 17,607
Flushing Financial Corp. 652,470 17,591
Nelnet Inc. Class A 331,850 17,392
Live Oak Bancshares Inc. 616,169 17,130
FBL Financial Group Inc. Class A 246,906 17,123
Hersha Hospitality Trust Class A 948,706 16,982
^ CBL & Associates Properties Inc. 4,051,894 16,896
* Enova International Inc. 758,131 16,717
Community Trust Bancorp Inc. 369,651 16,708
National Western Life Group Inc. Class A 54,555 16,633
Diamond Hill Investment Group Inc. 79,399 16,401
New Senior Investment Group Inc. 1,999,495 16,356
Granite Point Mortgage Trust Inc. 987,226 16,329
German American Bancorp Inc. 487,123 16,246
Camden National Corp. 365,030 16,244
Federal Agricultural Mortgage Corp. 186,199 16,203
* iStar Inc. 1,588,736 16,157
^ Pennsylvania REIT 1,669,694 16,113
Guaranty Bancorp 567,171 16,079
Northfield Bancorp Inc. 1,026,309 16,021
^ New York Mortgage Trust Inc. 2,651,005 15,720
Investors Real Estate Trust 3,002,255 15,582
* INTL. FCStone Inc. 364,656 15,564
NRG Yield Inc. Class A 938,708 15,432
Heritage Commerce Corp. 932,251 15,364
Opus Bank 548,499 15,358
* Marcus & Millichap Inc. 422,443 15,233
* National Commerce Corp. 348,937 15,196
Saul Centers Inc. 297,927 15,185
* EZCORP Inc. Class A 1,144,467 15,107
Investment Technology Group Inc. 764,201 15,085
Oritani Financial Corp. 969,191 14,877
CatchMark Timber Trust Inc. Class A 1,187,595 14,809
Ashford Hospitality Trust Inc. 2,290,784 14,798
Armada Hoffler Properties Inc. 1,077,326 14,749
* Veritex Holdings Inc. 530,839 14,688
* First Foundation Inc. 791,510 14,675
First of Long Island Corp. 530,971 14,575
BBX Capital Corp. Class A 1,576,293 14,518
Bridge Bancorp Inc. 432,588 14,513

 

 

  QCR Holdings Inc. 323,541 14,511
  Peoples Bancorp Inc. 408,532 14,482
  Urstadt Biddle Properties Inc. Class A 748,556 14,447
  Great Southern Bancorp Inc. 270,383 13,506
* Nationstar Mortgage Holdings Inc. 751,416 13,495
  Dime Community Bancshares Inc. 729,192 13,417
* Bancorp Inc. 1,228,838 13,271
* Green Bancorp Inc. 590,373 13,136
*,^ Willscot Corp. 957,292 13,067
  Preferred Apartment Communities Inc. Class A 908,244 12,888
  Peapack Gladstone Financial Corp. 383,559 12,807
* TriState Capital Holdings Inc. 539,331 12,539
  First Defiance Financial Corp. 218,232 12,509
  Fidelity Southern Corp. 539,264 12,441
  Mercantile Bank Corp. 373,918 12,433
* FB Financial Corp. 301,492 12,238
* Equity Bancshares Inc. Class A 311,573 12,201
  Blue Hills Bancorp Inc. 572,265 11,932
* World Acceptance Corp. 111,379 11,728
  RMR Group Inc. Class A 167,646 11,727
  AG Mortgage Investment Trust Inc. 674,552 11,717
  Gladstone Commercial Corp. 672,675 11,664
* Greenlight Capital Re Ltd. Class A 723,849 11,618
  KKR Real Estate Finance Trust Inc. 578,229 11,599
  Anworth Mortgage Asset Corp. 2,402,741 11,533
* PennyMac Financial Services Inc. Class A 509,128 11,532
  Independent Bank Corp. 502,500 11,507
  OFG Bancorp 1,099,006 11,485
  Maiden Holdings Ltd. 1,758,736 11,432
  State Auto Financial Corp. 396,273 11,322
  Community Healthcare Trust Inc. 439,684 11,317
  Midland States Bancorp Inc. 358,298 11,308
* Ocwen Financial Corp. 2,722,753 11,218
  Front Yard Residential Corp. 1,101,414 11,069
  CorEnergy Infrastructure Trust Inc. 293,933 11,034
  United Insurance Holdings Corp. 576,117 11,027
  United Community Financial Corp. 1,112,769 10,972
^ Orchid Island Capital Inc. 1,481,718 10,920
  First Community Bancshares Inc. 363,323 10,845
* Allegiance Bancshares Inc. 276,799 10,837
  Westwood Holdings Group Inc. 189,492 10,704
  Waterstone Financial Inc. 617,183 10,677
  People's Utah Bancorp 330,439 10,673
* Nicolet Bankshares Inc. 190,648 10,499
  Bank of Marin Bancorp 152,238 10,497
* HomeTrust Bancshares Inc. 401,667 10,463
  NexPoint Residential Trust Inc. 420,244 10,439
* Republic First Bancorp Inc. 1,198,992 10,431
  Arbor Realty Trust Inc. 1,178,116 10,391
  UMH Properties Inc. 773,782 10,376
  Dynex Capital Inc. 1,544,653 10,241
  Financial Institutions Inc. 343,385 10,164
* Industrial Logistics Properties Trust 499,560 10,161
* Atlantic Capital Bancshares Inc. 559,134 10,120
  Arrow Financial Corp. 296,430 10,064
  CNB Financial Corp. 342,777 9,971
  First Financial Corp. 238,702 9,930

 

 

* Franklin Financial Network Inc. 302,096 9,848
* Tejon Ranch Co. 422,457 9,763
  Old Second Bancorp Inc. 699,050 9,717
  Clifton Bancorp Inc. 614,736 9,621
  Western Asset Mortgage Capital Corp. 991,945 9,612
  Bar Harbor Bankshares 342,046 9,482
* FRP Holdings Inc. 169,293 9,480
  Access National Corp. 327,004 9,329
  City Office REIT Inc. 806,299 9,321
  Hamilton Lane Inc. Class A 248,148 9,239
  Whitestone REIT 872,349 9,064
* PCSB Financial Corp. 425,223 8,921
  MidWestOne Financial Group Inc. 267,608 8,909
* Ambac Financial Group Inc. 567,760 8,902
  MedEquities Realty Trust Inc. 843,567 8,866
*,^ New York REIT Inc. 412,129 8,865
^ Greenhill & Co. Inc. 473,983 8,769
  1st Source Corp. 172,849 8,750
* Newmark Group Inc. Class A 573,179 8,707
  Arlington Asset Investment Corp. Class A 779,036 8,601
  First Bancshares Inc. 262,721 8,473
* Cowen Inc. Class A 633,785 8,366
  Cedar Realty Trust Inc. 2,119,588 8,351
  West Bancorporation Inc. 324,143 8,298
  Resource Capital Corp. 872,541 8,298
^ Heritage Insurance Holdings Inc. 546,865 8,290
  Ares Commercial Real Estate Corp. 664,602 8,208
  One Liberty Properties Inc. 370,942 8,198
  Cambridge Bancorp 93,227 8,134
  Ashford Hospitality Prime Inc. 827,917 8,047
  First Mid-Illinois Bancshares Inc. 220,488 8,037
  First Internet Bancorp 216,867 8,024
  Ladenburg Thalmann Financial Services Inc. 2,430,270 7,947
  First Connecticut Bancorp Inc. 309,141 7,914
  HCI Group Inc. 207,194 7,907
^ Farmers & Merchants Bancorp Inc. 195,645 7,898
* Byline Bancorp Inc. 340,312 7,803
  Farmers National Banc Corp. 561,300 7,774
  Sierra Bancorp 290,674 7,744
  Home Bancorp Inc. 177,914 7,681
  Western New England Bancorp Inc. 718,434 7,651
*,^ Health Insurance Innovations Inc. Class A 264,035 7,631
  Cherry Hill Mortgage Investment Corp. 434,742 7,625
  Old Line Bancshares Inc. 229,302 7,567
  Global Indemnity Ltd. 218,560 7,545
  Republic Bancorp Inc. Class A 196,945 7,543
* On Deck Capital Inc. 1,344,153 7,514
  American National Bankshares Inc. 198,703 7,471
* Regional Management Corp. 232,139 7,391
  Jernigan Capital Inc. 407,067 7,368
*,^ Citizens Inc. Class A 980,141 7,175
^ Farmland Partners Inc. 858,297 7,167
* WMIH Corp. 5,019,904 7,128
  Farmers Capital Bank Corp. 178,150 7,117
* Safeguard Scientifics Inc. 576,623 7,064
* Southern First Bancshares Inc. 155,668 6,927
  Territorial Bancorp Inc. 233,117 6,914

 

 

  Hingham Institution for Savings 33,478 6,896
  National Bankshares Inc. 153,006 6,893
* BSB Bancorp Inc. 224,462 6,869
  Peoples Financial Services Corp. 149,737 6,836
  Sutherland Asset Management Corp. 450,108 6,819
  PICO Holdings Inc. 594,034 6,802
  Southern National Bancorp of Virginia Inc. 428,883 6,794
  RBB Bancorp 255,166 6,729
  Enterprise Bancorp Inc. 190,131 6,710
  Merchants Bancorp 305,962 6,578
  Charter Financial Corp. 320,857 6,542
  First Bancorp Inc. 233,325 6,528
  Marlin Business Services Corp. 229,974 6,520
  Capital City Bank Group Inc. 261,465 6,471
  Shore Bancshares Inc. 339,022 6,394
* eHealth Inc. 446,342 6,387
  Southern Missouri Bancorp Inc. 173,081 6,335
  Oppenheimer Holdings Inc. Class A 244,930 6,307
*,^ Altisource Portfolio Solutions SA 236,564 6,283
  EMC Insurance Group Inc. 231,249 6,262
* HarborOne Bancorp Inc. 354,148 6,254
  Consolidated-Tomoka Land Co. 99,201 6,235
  Great Ajax Corp. 457,921 6,205
  Baldwin & Lyons Inc. 276,937 6,093
  BankFinancial Corp. 357,091 6,063
  Guaranty Bancshares Inc. 181,251 6,037
  Summit Financial Group Inc. 237,378 5,937
  First Bank 411,460 5,925
  FNB Bancorp 160,994 5,923
  Citizens & Northern Corp. 252,970 5,841
  Macatawa Bank Corp. 567,501 5,828
  Investors Title Co. 29,098 5,817
* MoneyGram International Inc. 659,681 5,686
  Ames National Corp. 205,571 5,653
  Northrim BanCorp Inc. 162,010 5,597
  MutualFirst Financial Inc. 152,328 5,522
  Century Bancorp Inc. Class A 69,532 5,521
^ Bluerock Residential Growth REIT Inc. Class A 640,039 5,440
  Bankwell Financial Group Inc. 164,499 5,310
*,^ Forestar Group Inc. 250,927 5,307
  FS Bancorp Inc. 98,526 5,271
  BCB Bancorp Inc. 336,703 5,269
  Codorus Valley Bancorp Inc. 185,770 5,224
  First Business Financial Services Inc. 205,692 5,175
* SmartFinancial Inc. 217,904 5,134
  Sussex Bancorp 168,600 5,125
^ GAIN Capital Holdings Inc. 758,817 5,122
* First Northwest Bancorp 302,712 5,113
  Civista Bancshares Inc. 223,072 5,099
  Orrstown Financial Services Inc. 210,135 5,075
  Timberland Bancorp Inc. 166,648 5,066
  Central Valley Community Bancorp 257,305 5,033
* Bank of Princeton 144,868 4,997
  Riverview Bancorp Inc. 527,567 4,927
  Bank of Commerce Holdings 421,001 4,905
* Atlantic Coast Financial Corp. 474,498 4,887
  Investar Holding Corp. 188,481 4,872

 

 

  Evans Bancorp Inc. 106,388 4,814
  MBT Financial Corp. 446,897 4,804
  Penns Woods Bancorp Inc. 112,508 4,760
* Stratus Properties Inc. 154,934 4,679
* Sterling Bancorp Inc. 343,208 4,637
  Ellington Residential Mortgage REIT 420,285 4,606
  Federated National Holding Co. 286,391 4,516
  Pzena Investment Management Inc. Class A 403,565 4,492
* Howard Bancorp Inc. 225,381 4,463
* AV Homes Inc. 240,257 4,457
  MidSouth Bancorp Inc. 348,907 4,414
* NI Holdings Inc. 263,267 4,397
  Unity Bancorp Inc. 199,004 4,378
  Independence Holding Co. 122,798 4,378
  Reis Inc. 199,775 4,285
* Community Bankers Trust Corp. 474,834 4,274
  Kingstone Cos. Inc. 253,928 4,266
  Northeast Bancorp 207,432 4,252
  Gladstone Land Corp. 351,759 4,249
  Bear State Financial Inc. 413,691 4,240
  SI Financial Group Inc. 293,277 4,223
* Entegra Financial Corp. 144,122 4,180
  LCNB Corp. 218,549 4,152
  C&F Financial Corp. 78,800 4,145
^ Innovative Industrial Properties Inc. 154,288 4,127
* Trinity Place Holdings Inc. 627,012 4,076
  Safety Income & Growth Inc. 252,324 4,035
* Pacific Mercantile Bancorp 411,516 3,930
  ACNB Corp. 133,595 3,908
  Reliant Bancorp Inc. 171,191 3,901
  Donegal Group Inc. Class A 246,340 3,892
  MVB Financial Corp. 194,000 3,832
  ESSA Bancorp Inc. 254,680 3,736
*,^ Longfin Corp. 215,841 3,725
  County Bancorp Inc. 126,977 3,709
  Owens Realty Mortgage Inc. 252,842 3,686
2 Winthrop Realty Trust 562,609 3,676
  Global Medical REIT Inc. 525,888 3,655
  Chemung Financial Corp. 78,078 3,628
* Hallmark Financial Services Inc. 404,755 3,610
* Elevate Credit Inc. 508,049 3,597
  Community Financial Corp. 96,475 3,591
* Malvern Bancorp Inc. 137,227 3,568
  GAMCO Investors Inc. Class A 141,614 3,516
  Parke Bancorp Inc. 162,698 3,384
  Middlefield Banc Corp. 68,285 3,353
  Federal Agricultural Mortgage Corp. Class A 41,769 3,325
  Prudential Bancorp Inc. 183,029 3,320
  Peoples Bancorp of North Carolina Inc. 107,804 3,312
  First Financial Northwest Inc. 195,218 3,270
  Premier Financial Bancorp Inc. 173,807 3,235
  First Guaranty Bancshares Inc. 123,775 3,217
^ Union Bankshares Inc. 62,929 3,197
* Atlas Financial Holdings Inc. 303,716 3,143
  Tiptree Inc. 493,567 3,134
* Bay Bancorp Inc. 230,784 3,104
^ Greene County Bancorp Inc. 84,105 3,087

 

 

  United Security Bancshares 284,368 3,057
  Clipper Realty Inc. 357,527 3,028
  Silvercrest Asset Management Group Inc. Class A 195,101 2,966
  1st Constitution Bancorp 135,163 2,920
* Esquire Financial Holdings Inc. 117,971 2,879
* Metropolitan Bank Holding Corp. 66,908 2,818
* Provident Bancorp Inc. 105,636 2,805
  Associated Capital Group Inc. Class A 74,243 2,780
  Sotherly Hotels Inc. 392,483 2,716
  Provident Financial Holdings Inc. 149,835 2,711
* Ashford Inc. 28,292 2,708
* Select Bancorp Inc. 197,554 2,639
* Capstar Financial Holdings Inc. 137,376 2,587
  SB Financial Group Inc. 136,390 2,510
  DNB Financial Corp. 69,832 2,490
  Bluegreen Vacations Corp. 112,727 2,386
  Luther Burbank Corp. 198,373 2,382
* First United Corp. 120,015 2,304
  MSB Financial Corp. 121,527 2,181
* Transcontinental Realty Investors Inc. 52,656 2,138
* Maui Land & Pineapple Co. Inc. 181,832 2,118
  Two River Bancorp 115,638 2,087
*,^ Impac Mortgage Holdings Inc. 261,677 2,067
* Curo Group Holdings Corp. 118,692 2,042
  First Savings Financial Group Inc. 28,986 2,028
  American River Bankshares 130,024 2,017
  Colony Northstar Credit Real Estate Inc. Class A 106,122 2,011
  Blue Capital Reinsurance Holdings Ltd. 161,959 1,976
^ Five Oaks Investment Corp. 676,213 1,968
  CB Financial Services Inc. 63,572 1,949
* Coastway Bancorp Inc. 71,316 1,943
* Jason Industries Inc. 597,574 1,858
* Consumer Portfolio Services Inc. 491,566 1,853
  Plumas Bancorp 74,137 1,842
  Mackinac Financial Corp. 108,795 1,758
  Summit State Bank 126,542 1,696
*,^ Aspen Group Inc. 235,988 1,666
  AmeriServ Financial Inc. 413,195 1,653
* Victory Capital Holdings Inc. Class A 127,300 1,566
  Global Self Storage Inc. 353,584 1,563
  United Bancorp Inc. 123,352 1,554
*,^ Riot Blockchain Inc. 229,861 1,522
  Hennessy Advisors Inc. 73,898 1,426
  Griffin Industrial Realty Inc. 37,944 1,424
* PDL Community Bancorp 96,796 1,418
  PB Bancorp Inc. 130,685 1,366
  Eagle Bancorp Montana Inc. 65,369 1,356
*,^ ITUS Corp. 347,601 1,335
  Condor Hospitality Trust Inc. 129,639 1,296
*,^ Anchor Bancorp Inc. 51,344 1,258
  Manhattan Bridge Capital Inc. 172,279 1,197
  Citizens Community Bancorp Inc. 85,675 1,197
  First US Bancshares Inc. 102,757 1,176
  Manning & Napier Inc. 332,877 1,165
* Performant Financial Corp. 385,460 1,156
  Old Point Financial Corp. 43,728 1,154
* Nicholas Financial Inc. 124,786 1,132

 

 

* Randolph Bancorp Inc. 68,831 1,110
  United Community Bancorp 43,985 1,108
  Urstadt Biddle Properties Inc. 64,362 1,092
* Tremont Mortgage Trust 76,963 1,009
  Elmira Savings Bank 49,500 1,002
  Severn Bancorp Inc. 137,009 993
  First Community Corp. 42,409 971
  HopFed Bancorp Inc. 66,571 965
  Medley Management Inc. Class A 163,603 933
* Altisource Asset Management Corp. 13,783 858
* Security National Financial Corp. Class A 159,180 820
  Sound Financial Bancorp Inc. 21,956 805
*,^ IZEA Inc. 210,517 771
  BRT Apartments Corp. 64,449 757
^ Wheeler REIT Inc. 210,423 753
^ US Global Investors Inc. Class A 296,698 751
* Meridian Bank 42,029 738
  Pathfinder Bancorp Inc. 48,152 737
* Porter Bancorp Inc. 52,082 714
*,^ DPW Holdings Inc. 871,179 697
* 1347 Property Insurance Holdings Inc. 91,546 655
^ Sachem Capital Corp. 174,987 607
* Conifer Holdings Inc. 103,597 606
  Norwood Financial Corp. 19,602 590
  Citizens First Corp. 22,973 567
*,^ Intersections Inc. 339,844 554
* FFBW Inc. 50,272 552
  Bank of South Carolina Corp. 23,427 473
* Community First Bancshares Inc. 38,486 432
* National Holdings Corp. 94,636 432
* Bancorp 34 Inc. 28,027 420
* Central Federal Corp. 172,435 400
^ HV Bancorp Inc. 25,024 375
  Ottawa Bancorp Inc. 27,075 371
*,^ ZAIS Group Holdings Inc. 86,704 351
* Bridgewater Bancshares Inc. 25,422 332
* First Acceptance Corp. 280,268 238
*,^ Ditech Holding Corp. 25,299 227
* JW Mays Inc. 5,455 203
*,^ CPI Card Group Inc. 64,064 193
  WVS Financial Corp. 11,313 182
  RAIT Financial Trust 1,091,851 176
  Bancorp of New Jersey Inc. 9,631 160
  Bank of the James Financial Group Inc. 10,344 156
  Oxbridge Re Holdings Ltd. 67,076 151
* Eagle Financial Bancorp Inc. 9,624 151
^ Jacksonville Bancorp Inc. 4,452 148
* Income Opportunity Realty Investors Inc. 12,550 147
*,^ RMG Networks Holding Corp. 102,173 145
  IF Bancorp Inc. 6,961 139
* ICC Holdings Inc. 8,902 134
  Asta Funding Inc. 31,446 116
* National Holdings Corp. Warrants Exp. 01/18/2022 92,151 115
  Southwest Georgia Financial Corp. 3,684 78
*,^ Naked Brand Group Inc. 46,124 68
  Cohen & Co. Inc. 4,329 47
* FSB Bancorp Inc. 889 15

 

 

Glen Burnie Bancorp 857 10
GWG Holdings Inc. 300 3
Canadian Imperial Bank of Commerce   —
    137,287,112
Health Care (12.5%)    
Johnson & Johnson 66,198,846 8,483,382
Pfizer Inc. 146,877,414 5,212,679
UnitedHealth Group Inc. 23,876,517 5,109,575
AbbVie Inc. 39,181,759 3,708,553
Merck & Co. Inc. 67,225,518 3,661,774
Amgen Inc. 16,492,621 2,811,662
Medtronic plc 33,437,644 2,682,368
Abbott Laboratories 43,084,882 2,581,646
Bristol-Myers Squibb Co. 40,288,284 2,548,234
Gilead Sciences Inc. 32,275,329 2,433,237
Thermo Fisher Scientific Inc. 9,894,560 2,042,831
Eli Lilly & Co. 24,334,645 1,882,771
* Celgene Corp. 18,560,438 1,655,777
Allergan plc 8,592,102 1,445,965
* Biogen Inc. 5,220,638 1,429,515
Becton Dickinson and Co. 6,568,097 1,423,307
Anthem Inc. 6,308,928 1,386,071
Aetna Inc. 8,064,483 1,362,898
Stryker Corp. 7,396,629 1,190,266
* Intuitive Surgical Inc. 2,770,880 1,143,902
* Vertex Pharmaceuticals Inc. 6,265,899 1,021,216
Cigna Corp. 6,019,289 1,009,676
Zoetis Inc. 11,974,891 1,000,023
* Express Scripts Holding Co. 13,973,885 965,316
* Boston Scientific Corp. 33,937,528 927,173
Humana Inc. 3,397,155 913,257
* Illumina Inc. 3,627,340 857,576
Baxter International Inc. 12,764,270 830,188
* Edwards Lifesciences Corp. 5,183,674 723,226
* Regeneron Pharmaceuticals Inc. 1,958,874 674,558
HCA Healthcare Inc. 6,913,445 670,604
* Alexion Pharmaceuticals Inc. 5,198,646 579,441
Zimmer Biomet Holdings Inc. 4,994,849 544,638
* Mylan NV 12,576,752 517,785
* Align Technology Inc. 1,879,127 471,905
* Centene Corp. 4,068,745 434,827
* Nektar Therapeutics Class A 3,957,767 420,552
* IDEXX Laboratories Inc. 2,150,238 411,534
* Laboratory Corp. of America Holdings 2,511,175 406,183
* IQVIA Holdings Inc. 3,852,893 378,007
* Incyte Corp. 4,443,184 370,251
* Waters Corp. 1,863,265 370,138
* BioMarin Pharmaceutical Inc. 4,337,933 351,676
ResMed Inc. 3,527,846 347,387
Quest Diagnostics Inc. 3,362,438 337,253
* ABIOMED Inc. 1,038,255 302,122
Teleflex Inc. 1,142,879 291,411
Dentsply Sirona Inc. 5,662,112 284,861
* Varian Medical Systems Inc. 2,256,072 276,707
Cooper Cos. Inc. 1,208,478 276,512
* Alnylam Pharmaceuticals Inc. 2,219,110 264,296
Perrigo Co. plc 3,130,309 260,880

 

 

* Henry Schein Inc. 3,794,622 255,037
* Hologic Inc. 6,813,811 254,564
  Universal Health Services Inc. Class B 2,054,558 243,280
* Alkermes plc 3,859,175 223,678
* DaVita Inc. 3,377,845 222,735
* WellCare Health Plans Inc. 1,099,999 212,993
* Jazz Pharmaceuticals plc 1,405,696 212,246
* Bluebird Bio Inc. 1,232,578 210,463
  STERIS plc 2,093,100 195,412
* Neurocrine Biosciences Inc. 2,204,134 182,789
* Sage Therapeutics Inc. 1,072,835 172,802
  West Pharmaceutical Services Inc. 1,835,243 162,034
* Exelixis Inc. 7,307,799 161,868
* DexCom Inc. 2,146,961 159,219
  Hill-Rom Holdings Inc. 1,629,748 141,788
  Bio-Techne Corp. 926,096 139,878
* Ionis Pharmaceuticals Inc. 3,081,852 135,848
* Catalent Inc. 3,296,450 135,352
*,^ Seattle Genetics Inc. 2,540,866 132,989
  Encompass Health Corp. 2,314,582 132,325
* Bio-Rad Laboratories Inc. Class A 517,043 129,302
* MEDNAX Inc. 2,317,823 128,940
* Insulet Corp. 1,442,648 125,049
* Charles River Laboratories International Inc. 1,168,174 124,691
* Exact Sciences Corp. 2,987,694 120,494
* Envision Healthcare Corp. 2,992,324 114,995
* United Therapeutics Corp. 1,015,438 114,095
* Sarepta Therapeutics Inc. 1,514,128 112,182
* Molina Healthcare Inc. 1,331,640 108,103
* PRA Health Sciences Inc. 1,260,425 104,565
* Masimo Corp. 1,145,223 100,722
* Agios Pharmaceuticals Inc. 1,201,024 98,220
  Cantel Medical Corp. 878,791 97,906
* Haemonetics Corp. 1,321,135 96,654
* ICU Medical Inc. 373,386 94,243
* Blueprint Medicines Corp. 973,239 89,246
* Penumbra Inc. 754,332 87,238
* Integra LifeSciences Holdings Corp. 1,551,914 85,883
* Globus Medical Inc. 1,697,249 84,557
* FibroGen Inc. 1,822,031 84,178
* Avexis Inc. 677,152 83,682
* Array BioPharma Inc. 5,116,610 83,503
* Ligand Pharmaceuticals Inc. 495,061 81,764
* Neogen Corp. 1,215,833 81,449
* Acadia Healthcare Co. Inc. 2,058,387 80,648
  Bruker Corp. 2,504,347 74,930
  Healthcare Services Group Inc. 1,721,798 74,864
* Loxo Oncology Inc. 626,850 72,320
*,^ Amicus Therapeutics Inc. 4,589,310 69,023
* Syneos Health Inc. 1,929,116 68,484
* NuVasive Inc. 1,259,461 65,756
* Magellan Health Inc. 593,962 63,613
* Clovis Oncology Inc. 1,151,455 60,797
* Tenet Healthcare Corp. 2,490,765 60,401
* Ultragenyx Pharmaceutical Inc. 1,166,899 59,500
* Halozyme Therapeutics Inc. 2,994,998 58,672
* Horizon Pharma plc 4,060,238 57,655

 

 

* Supernus Pharmaceuticals Inc. 1,207,852 55,320
* Global Blood Therapeutics Inc. 1,138,168 54,974
* ACADIA Pharmaceuticals Inc. 2,443,654 54,909
* Emergent BioSolutions Inc. 1,040,985 54,808
* Nevro Corp. 625,362 54,200
* TESARO Inc. 942,474 53,853
* Merit Medical Systems Inc. 1,179,019 53,469
* Halyard Health Inc. 1,158,363 53,377
* Medicines Co. 1,620,207 53,370
* Puma Biotechnology Inc. 784,212 53,366
* Portola Pharmaceuticals Inc. 1,604,144 52,391
* Ironwood Pharmaceuticals Inc. Class A 3,366,497 51,945
*,^ Spark Therapeutics Inc. 777,737 51,790
* Wright Medical Group NV 2,602,597 51,636
* Myriad Genetics Inc. 1,730,576 51,139
*,^ Teladoc Inc. 1,263,644 50,925
* Inogen Inc. 413,184 50,756
* Aerie Pharmaceuticals Inc. 930,126 50,459
*,^ Immunomedics Inc. 3,274,615 47,842
* Arena Pharmaceuticals Inc. 1,176,686 46,479
* LifePoint Health Inc. 978,740 46,001
* Select Medical Holdings Corp. 2,616,984 45,143
  Patterson Cos. Inc. 1,987,854 44,190
* Prestige Brands Holdings Inc. 1,302,679 43,926
* Amedisys Inc. 716,413 43,228
*,^ Heron Therapeutics Inc. 1,565,670 43,212
* Akorn Inc. 2,297,543 42,987
* Esperion Therapeutics Inc. 590,516 42,712
* Insmed Inc. 1,882,704 42,398
*,^ Corcept Therapeutics Inc. 2,523,831 41,517
* NxStage Medical Inc. 1,642,531 40,833
* Sangamo Therapeutics Inc. 2,074,230 39,410
  CONMED Corp. 620,922 39,323
* Tivity Health Inc. 981,041 38,898
* Omnicell Inc. 883,013 38,323
  Abaxis Inc. 534,954 37,778
* Quidel Corp. 716,220 37,107
* Acceleron Pharma Inc. 947,514 37,048
* Novocure Ltd. 1,669,044 36,385
* AnaptysBio Inc. 348,547 36,277
* Spectrum Pharmaceuticals Inc. 2,223,645 35,778
* Impax Laboratories Inc. 1,831,346 35,620
*,^ Radius Health Inc. 986,224 35,445
* Repligen Corp. 978,420 35,399
* HMS Holdings Corp. 2,083,110 35,080
* ImmunoGen Inc. 3,268,740 34,387
* Xencor Inc. 1,140,318 34,187
*,^ Mallinckrodt plc 2,333,227 33,785
* Varex Imaging Corp. 927,184 33,175
* Momenta Pharmaceuticals Inc. 1,790,524 32,498
* MyoKardia Inc. 662,720 32,341
* Zogenix Inc. 805,653 32,266
* Iovance Biotherapeutics Inc. 1,899,964 32,109
  Ensign Group Inc. 1,213,421 31,913
* Aimmune Therapeutics Inc. 984,713 31,343
* Innoviva Inc. 1,866,016 31,106
* Atara Biotherapeutics Inc. 793,957 30,964

 

 

* Brookdale Senior Living Inc. 4,589,242 30,794
* Pacira Pharmaceuticals Inc. 951,695 29,645
*,^ Editas Medicine Inc. 891,778 29,562
* Dynavax Technologies Corp. 1,484,528 29,468
* Endo International plc 4,956,058 29,439
  Analogic Corp. 304,872 29,237
* PTC Therapeutics Inc. 1,071,256 28,988
* Enanta Pharmaceuticals Inc. 356,553 28,849
* Foundation Medicine Inc. 356,475 28,072
* Acorda Therapeutics Inc. 1,147,227 27,132
* Intersect ENT Inc. 689,243 27,087
*,^ Intrexon Corp. 1,735,622 26,607
*,^ Intercept Pharmaceuticals Inc. 430,824 26,504
*,^ OPKO Health Inc. 8,287,501 26,271
* AxoGen Inc. 717,012 26,171
* LHC Group Inc. 412,511 25,394
* iRhythm Technologies Inc. 396,653 24,969
* Orthofix International NV 422,771 24,850
* Natus Medical Inc. 724,096 24,366
*,^ Theravance Biopharma Inc. 1,001,437 24,285
* OraSure Technologies Inc. 1,414,432 23,890
* BioTelemetry Inc. 767,952 23,845
  Owens & Minor Inc. 1,522,247 23,671
  US Physical Therapy Inc. 290,523 23,620
* G1 Therapeutics Inc. 631,250 23,388
* MacroGenics Inc. 917,287 23,079
* CytomX Therapeutics Inc. 801,643 22,807
* Epizyme Inc. 1,282,971 22,773
* Intra-Cellular Therapies Inc. 1,076,945 22,670
*,^ Glaukos Corp. 722,171 22,265
* Revance Therapeutics Inc. 719,911 22,173
  Atrion Corp. 34,504 21,782
  Luminex Corp. 1,027,923 21,658
* Retrophin Inc. 960,402 21,475
*,^ TherapeuticsMD Inc. 4,270,155 20,796
* Assembly Biosciences Inc. 422,543 20,764
* REGENXBIO Inc. 689,162 20,571
* Madrigal Pharmaceuticals Inc. 175,791 20,531
* Vanda Pharmaceuticals Inc. 1,187,893 20,016
* Alder Biopharmaceuticals Inc. 1,574,906 20,001
* Kindred Healthcare Inc. 2,135,482 19,540
* K2M Group Holdings Inc. 1,025,617 19,435
*,^ TG Therapeutics Inc. 1,300,856 18,472
* Audentes Therapeutics Inc. 612,582 18,408
* Cymabay Therapeutics Inc. 1,407,965 18,289
*,^ MiMedx Group Inc. 2,592,711 18,071
*,^ Flexion Therapeutics Inc. 798,324 17,890
* Anika Therapeutics Inc. 358,567 17,828
* Cardiovascular Systems Inc. 794,665 17,427
* Mirati Therapeutics Inc. 567,239 17,414
* AMAG Pharmaceuticals Inc. 861,245 17,354
*,^ Accelerate Diagnostics Inc. 752,253 17,189
* Almost Family Inc. 305,615 17,114
* Cerus Corp. 3,119,780 17,096
*,^ Novavax Inc. 8,010,521 16,822
*,^ Geron Corp. 3,951,649 16,795
* AtriCure Inc. 802,747 16,472

 

 

*,^ Collegium Pharmaceutical Inc. 640,463 16,364
* Cutera Inc. 323,143 16,238
* CryoLife Inc. 798,300 16,006
* Amphastar Pharmaceuticals Inc. 840,749 15,764
* Karyopharm Therapeutics Inc. 1,155,980 15,513
* AngioDynamics Inc. 896,106 15,458
*,^ Eagle Pharmaceuticals Inc. 291,986 15,385
  HealthStream Inc. 616,072 15,297
* Genomic Health Inc. 481,096 15,053
*,^ La Jolla Pharmaceutical Co. 502,262 14,957
  Meridian Bioscience Inc. 1,045,884 14,852
* Triple-S Management Corp. Class B 566,846 14,817
* R1 RCM Inc. 2,073,734 14,806
* NeoGenomics Inc. 1,770,386 14,446
  Invacare Corp. 815,418 14,188
* Lantheus Holdings Inc. 876,458 13,936
*,^ Arrowhead Pharmaceuticals Inc. 1,921,841 13,856
* Five Prime Therapeutics Inc. 801,236 13,765
  National HealthCare Corp. 229,464 13,683
* RadNet Inc. 937,753 13,504
*,^ Lannett Co. Inc. 835,482 13,409
* Endocyte Inc. 1,458,398 13,257
*,^ Athenex Inc. 776,456 13,208
*,^ GlycoMimetics Inc. 812,815 13,192
*,^ Intellia Therapeutics Inc. 624,749 13,176
* Kura Oncology Inc. 696,436 13,058
* Progenics Pharmaceuticals Inc. 1,750,207 13,057
* Rigel Pharmaceuticals Inc. 3,681,663 13,033
  LeMaitre Vascular Inc. 353,198 12,796
* Heska Corp. 160,191 12,666
*,^ Omeros Corp. 1,132,795 12,653
*,^ Adamas Pharmaceuticals Inc. 526,960 12,594
*,^ ZIOPHARM Oncology Inc. 3,135,343 12,291
* Coherus Biosciences Inc. 1,105,520 12,216
* ANI Pharmaceuticals Inc. 205,095 11,941
* CorVel Corp. 235,328 11,896
* Achillion Pharmaceuticals Inc. 3,204,546 11,889
*,^ Tactile Systems Technology Inc. 370,762 11,790
* Surmodics Inc. 305,839 11,637
* Concert Pharmaceuticals Inc. 504,591 11,555
* BioCryst Pharmaceuticals Inc. 2,407,403 11,483
* Akebia Therapeutics Inc. 1,186,970 11,312
* Aclaris Therapeutics Inc. 637,094 11,162
*,^ Abeona Therapeutics Inc. 756,664 10,858
*,^ Synergy Pharmaceuticals Inc. 5,879,357 10,759
* ChemoCentryx Inc. 779,777 10,605
* PDL BioPharma Inc. 3,585,431 10,541
*,^ Community Health Systems Inc. 2,661,666 10,540
*,^ Achaogen Inc. 804,170 10,414
* STAAR Surgical Co. 703,245 10,408
* Voyager Therapeutics Inc. 540,453 10,155
* Fate Therapeutics Inc. 1,025,392 10,008
*,^ Inovio Pharmaceuticals Inc. 2,099,923 9,891
* Accuray Inc. 1,958,383 9,792
* Aduro Biotech Inc. 1,041,593 9,687
* Stemline Therapeutics Inc. 632,795 9,682
* Depomed Inc. 1,388,375 9,149

 

 

*,^ Lexicon Pharmaceuticals Inc. 1,052,238 9,018
*,^ Keryx Biopharmaceuticals Inc. 2,177,438 8,906
*,^ Jounce Therapeutics Inc. 396,713 8,867
*,^ Rocket Pharmaceuticals Inc. 467,872 8,773
*,^ Agenus Inc. 1,859,094 8,756
* Addus HomeCare Corp. 177,955 8,658
* Vericel Corp. 863,260 8,589
* Endologix Inc. 2,006,953 8,489
*,^ Dova Pharmaceuticals Inc. 311,902 8,459
* Cytokinetics Inc. 1,174,595 8,457
* AVEO Pharmaceuticals Inc. 2,891,086 8,384
*,^ Akcea Therapeutics Inc. 326,910 8,372
*,^ Surgery Partners Inc. 487,974 8,369
* Paratek Pharmaceuticals Inc. 639,594 8,315
*,^ MediciNova Inc. 797,187 8,147
*,^ Cara Therapeutics Inc. 641,963 7,948
* Dicerna Pharmaceuticals Inc. 826,354 7,900
* Celldex Therapeutics Inc. 3,341,126 7,785
* Antares Pharma Inc. 3,521,435 7,747
* BioScrip Inc. 3,146,006 7,739
*,^ Corium International Inc. 660,608 7,577
* Medpace Holdings Inc. 215,833 7,535
* Natera Inc. 800,588 7,421
*,^ Reata Pharmaceuticals Inc. Class A 361,469 7,414
* Durect Corp. 3,413,245 7,304
*,^ Idera Pharmaceuticals Inc. 3,952,001 7,272
*,^ Kadmon Holdings Inc. 1,706,828 7,254
* GenMark Diagnostics Inc. 1,329,745 7,234
*,^ Sorrento Therapeutics Inc. 1,367,093 7,041
*,^ Corbus Pharmaceuticals Holdings Inc. 1,143,938 6,978
*,^ ViewRay Inc. 1,080,349 6,947
  Utah Medical Products Inc. 69,382 6,858
* BioSpecifics Technologies Corp. 151,987 6,739
*,^ Denali Therapeutics Inc. 336,992 6,635
* Capital Senior Living Corp. 616,811 6,631
*,^ MannKind Corp. 2,903,516 6,620
* Adverum Biotechnologies Inc. 1,125,712 6,529
* Syros Pharmaceuticals Inc. 501,618 6,511
* Dermira Inc. 811,293 6,482
* Civitas Solutions Inc. 414,068 6,377
* Enzo Biochem Inc. 1,160,525 6,360
*,^ Invitae Corp. 1,355,558 6,358
*,^ Clearside Biomedical Inc. 586,505 6,293
*,^ Rockwell Medical Inc. 1,206,626 6,287
*,^ Senseonics Holdings Inc. 2,071,274 6,214
* RTI Surgical Inc. 1,336,779 6,149
*,^ Ampio Pharmaceuticals Inc. 1,781,861 6,058
*,^ BioTime Inc. 2,237,748 6,020
* Quorum Health Corp. 718,687 5,879
* Chimerix Inc. 1,124,575 5,848
* Kindred Biosciences Inc. 675,373 5,842
  Aceto Corp. 768,522 5,841
*,^ Pacific Biosciences of California Inc. 2,802,485 5,745
* Syndax Pharmaceuticals Inc. 400,818 5,704
* ArQule Inc. 1,976,705 5,693
* American Renal Associates Holdings Inc. 301,632 5,686
*,^ PetIQ Inc. 202,232 5,379

 

 

* Palatin Technologies Inc. 4,917,884 5,360
* Sienna Biopharmaceuticals Inc. 284,020 5,334
* Catalyst Pharmaceuticals Inc. 2,209,846 5,282
*,^ Tocagen Inc. 445,490 5,279
*,^ NewLink Genetics Corp. 726,442 5,267
* Catalyst Biosciences Inc. 201,900 5,209
*,^ CTI BioPharma Corp. 1,305,961 5,093
*,^ Athersys Inc. 2,780,647 5,089
* FONAR Corp. 170,182 5,071
* Rhythm Pharmaceuticals Inc. 252,375 5,022
*,^ Neos Therapeutics Inc. 591,637 4,911
* Minerva Neurosciences Inc. 775,347 4,846
*,^ Menlo Therapeutics Inc. 127,704 4,799
*,^ Bellicum Pharmaceuticals Inc. 730,163 4,790
*,^ Ocular Therapeutix Inc. 704,833 4,588
* Cue Biopharma Inc. 323,747 4,549
*,^ Insys Therapeutics Inc. 749,630 4,528
* Aratana Therapeutics Inc. 1,013,076 4,468
*,^ CytoSorbents Corp. 632,629 4,460
*,^ Vital Therapies Inc. 654,567 4,451
* Savara Inc. 483,697 4,450
* Mersana Therapeutics Inc. 281,711 4,443
* Corvus Pharmaceuticals Inc. 377,400 4,351
* Recro Pharma Inc. 394,851 4,347
* Ardelyx Inc. 859,546 4,341
* Kala Pharmaceuticals Inc. 273,085 4,323
* Conatus Pharmaceuticals Inc. 710,819 4,173
* NanoString Technologies Inc. 552,622 4,150
* Zafgen Inc. 554,363 4,130
*,^ Apellis Pharmaceuticals Inc. 186,487 4,123
* Calithera Biosciences Inc. 642,705 4,049
*,^ CareDx Inc. 502,588 4,006
* Mustang Bio Inc. 366,024 4,004
*,^ Selecta Biosciences Inc. 389,129 3,965
*,^ Viking Therapeutics Inc. 897,969 3,924
*,^ T2 Biosystems Inc. 597,801 3,880
* Fluidigm Corp. 661,818 3,865
* Tetraphase Pharmaceuticals Inc. 1,240,679 3,809
*,^ Seres Therapeutics Inc. 515,677 3,785
* Deciphera Pharmaceuticals Inc. 187,950 3,767
* Harvard Bioscience Inc. 750,550 3,753
*,^ Sientra Inc. 384,381 3,713
*,^ Synlogic Inc. 395,525 3,710
*,^ Tandem Diabetes Care Inc. 744,660 3,694
*,^ CASI Pharmaceuticals Inc. 874,637 3,647
*,^ Teligent Inc. 1,050,767 3,531
* Avid Bioservices Inc. 1,203,883 3,515
*,^ Optinose Inc. 173,240 3,468
* Verastem Inc. 1,163,176 3,466
* Melinta Therapeutics Inc. 465,019 3,441
* Spring Bank Pharmaceuticals Inc. 222,683 3,425
* Veracyte Inc. 608,274 3,382
* AAC Holdings Inc. 289,838 3,327
*,^ Galectin Therapeutics Inc. 701,095 3,323
*,^ Marinus Pharmaceuticals Inc. 867,114 3,312
*,^ XOMA Corp. 162,918 3,296
*,^ Corindus Vascular Robotics Inc. 2,399,515 3,287

 

 

* Aldeyra Therapeutics Inc. 429,986 3,225
*,^ GTx Inc. 180,254 3,200
* BioDelivery Sciences International Inc. 1,414,198 3,182
*,^ Amyris Inc. 468,761 3,136
* SeaSpine Holdings Corp. 302,141 3,064
*,^ Miragen Therapeutics Inc. 428,396 3,003
*,^ Fortress Biotech Inc. 644,427 2,932
*,^ Odonate Therapeutics Inc. 134,091 2,840
*,^ Proteostasis Therapeutics Inc. 597,730 2,839
* Cogentix Medical Inc. 730,702 2,813
* Immune Design Corp. 833,775 2,751
*,^ Anavex Life Sciences Corp. 993,461 2,742
*,^ Adamis Pharmaceuticals Corp. 782,045 2,737
  Psychemedics Corp. 132,234 2,735
*,^ ADMA Biologics Inc. 587,338 2,702
*,^ Zynerba Pharmaceuticals Inc. 305,185 2,652
*,^ Chembio Diagnostics Inc. 329,680 2,637
* Otonomy Inc. 624,314 2,622
* Merrimack Pharmaceuticals Inc. 325,027 2,616
* Protagonist Therapeutics Inc. 301,950 2,594
* Pfenex Inc. 416,691 2,500
*,^ NantKwest Inc. 635,282 2,471
*,^ Nobilis Health Corp. 1,482,407 2,446
*,^ Organovo Holdings Inc. 2,362,328 2,433
* Ophthotech Corp. 882,771 2,419
* Infinity Pharmaceuticals Inc. 1,144,811 2,404
*,^ OncoSec Medical Inc. 1,232,503 2,317
* Juniper Pharmaceuticals Inc. 226,925 2,303
* Curis Inc. 3,509,307 2,293
* Aeglea BioTherapeutics Inc. 226,343 2,245
* ContraFect Corp. 1,382,600 2,198
*,^ Tyme Technologies Inc. 926,156 2,065
*,^ XBiotech Inc. 382,403 2,046
* Molecular Templates Inc. 254,524 2,036
*,^ KemPharm Inc. 255,572 2,019
*,^ AcelRx Pharmaceuticals Inc. 952,160 2,000
*,^ Genesis Healthcare Inc. 1,313,128 1,983
*,^ Sunesis Pharmaceuticals Inc. 727,159 1,978
* Bovie Medical Corp. 665,652 1,977
* Trevena Inc. 1,192,683 1,956
* Agile Therapeutics Inc. 754,951 1,940
*,^ Viveve Medical Inc. 529,613 1,938
*,^ HTG Molecular Diagnostics Inc. 534,528 1,935
* OncoMed Pharmaceuticals Inc. 603,065 1,918
* Ovid therapeutics Inc. 269,127 1,903
* Ra Pharmaceuticals Inc. 354,649 1,883
*,^ Advaxis Inc. 1,075,254 1,817
* Eiger BioPharmaceuticals Inc. 178,747 1,761
* Allena Pharmaceuticals Inc. 157,829 1,739
* Histogenics Corp. 630,548 1,734
* MEI Pharma Inc. 837,445 1,734
*,^ iRadimed Corp. 120,879 1,704
* OrthoPediatrics Corp. 111,763 1,683
* Arsanis Inc. 72,287 1,655
*,^ Solid Biosciences Inc. 214,992 1,612
*,^ Zosano Pharma Corp. 315,836 1,592
* ConforMIS Inc. 1,091,687 1,583

 

 

*,^ Cidara Therapeutics Inc. 395,529 1,582
* Gemphire Therapeutics Inc. 239,413 1,559
* Celcuity Inc. 93,214 1,536
* Joint Corp. 219,797 1,506
* Regulus Therapeutics Inc. 2,068,201 1,484
* Versartis Inc. 888,732 1,466
* Aptevo Therapeutics Inc. 446,531 1,460
* Alpine Immune Sciences Inc. 180,890 1,447
*,^ SCYNEXIS Inc. 1,078,494 1,445
*,^ Sophiris Bio Inc. 718,237 1,444
*,^ pSivida Corp. 1,179,356 1,439
*,^ Ekso Bionics Holdings Inc. 903,708 1,428
*,^ Bellerophon Therapeutics Inc. 686,231 1,427
* IRIDEX Corp. 249,167 1,425
*,^ Pulse Biosciences Inc. 104,860 1,419
*,^ Alimera Sciences Inc. 1,374,781 1,416
*,^ Second Sight Medical Products Inc. 722,683 1,388
*,^ Invuity Inc. 348,425 1,341
* Aevi Genomic Medicine Inc. 663,147 1,333
*,^ Calyxt Inc. 100,788 1,322
* Cumberland Pharmaceuticals Inc. 194,545 1,300
*,^ BrainStorm Cell Therapeutics Inc. 412,248 1,299
*,^ Akers Biosciences Inc. 1,560,400 1,292
*,^ resTORbio Inc. 133,959 1,283
* aTyr Pharma Inc. 473,723 1,255
* scPharmaceuticals Inc. 101,200 1,255
*,^ Genocea Biosciences Inc. 1,186,677 1,246
*,^ Asterias Biotherapeutics Inc. Class A 804,565 1,167
*,^ Matinas BioPharma Holdings Inc. 1,524,744 1,166
*,^ Opiant Pharmaceuticals Inc. 59,762 1,146
*,^ Novan Inc. 385,476 1,129
*,^ Navidea Biopharmaceuticals Inc. 3,125,446 1,125
*,^ Vermillion Inc. 823,255 1,120
*,^ Spero Therapeutics Inc. 78,094 1,113
*,^ Alphatec Holdings Inc. 341,385 1,096
* InfuSystem Holdings Inc. 372,833 1,081
* Unum Therapeutics Inc. 95,893 1,065
* Misonix Inc. 107,163 1,061
*,^ Rexahn Pharmaceuticals Inc. 697,518 1,053
* Electromed Inc. 188,884 1,016
*,^ BioLife Solutions Inc. 195,545 999
* Flex Pharma Inc. 199,119 996
* Caladrius Biosciences Inc. 170,374 995
*,^ Synthetic Biologics Inc. 3,029,629 965
* Krystal Biotech Inc. 86,943 877
*,^ Obalon Therapeutics Inc. 254,939 874
*,^ VIVUS Inc. 2,437,127 867
*,^ Imprimis Pharmaceuticals Inc. 482,969 850
*,^ Axsome Therapeutics Inc. 331,550 812
*,^ BioPharmX Corp. 3,469,834 802
* Applied Genetic Technologies Corp. 202,816 781
^ Pain Therapeutics Inc. 109,368 775
*,^ CytRx Corp. 487,386 775
* Bioxcel Therapeutics Inc. 74,167 759
*,^ Celsion Corp. 334,710 750
* KalVista Pharmaceuticals Inc. 78,070 740
* Apollo Endosurgery Inc. 118,181 727

 

 

*,^ Moleculin Biotech Inc. 398,455 717
*,^ Catabasis Pharmaceuticals Inc. 392,389 710
* Cancer Genetics Inc. 421,856 696
*,^ Restoration Robotics Inc. 108,956 679
*,^ Evoke Pharma Inc. 320,197 666
*,^ Pernix Therapeutics Holdings Inc. 276,171 660
* vTv Therapeutics Inc. Class A 161,708 658
*,^ Egalet Corp. 1,039,777 655
*,^ Neuralstem Inc. 381,401 629
* NanoViricides Inc. 762,186 627
*,^ Oncocyte Corp. 296,293 622
*,^ Fulgent Genetics Inc. 155,059 617
* OvaScience Inc. 760,632 617
  Digirad Corp. 390,206 605
*,^ Actinium Pharmaceuticals Inc. 1,627,208 594
* Vical Inc. 393,089 570
* Leap Therapeutics Inc. 67,608 561
*,^ Capricor Therapeutics Inc. 408,359 555
*,^ ReShape Lifesciences Inc. 379,436 550
* Edge Therapeutics Inc. 464,871 549
* CAS Medical Systems Inc. 424,399 535
* Aileron Therapeutics Inc. 63,175 514
*,^ Evolus Inc. 52,845 477
* ARMO BioSciences Inc. 12,710 475
*,^ Cleveland BioLabs Inc. 155,269 469
* Five Star Senior Living Inc. 323,637 421
*,^ TapImmune Inc. 125,509 417
*,^ Myomo Inc. 138,954 413
*,^ Aethlon Medical Inc. 326,146 388
*,^ Sensus Healthcare Inc. 66,130 386
*,^ Tonix Pharmaceuticals Holding Corp. 130,509 384
*,^ Wright Medical Group Inc. CVR 288,011 383
*,^ Quanterix Corp. 22,069 376
*,^ Tracon Pharmaceuticals Inc. 159,270 366
*,^ InVivo Therapeutics Holdings Corp. 684,677 366
* Avenue Therapeutics Inc. 80,698 363
*,^ ContraVir Pharmaceuticals Inc. 1,553,823 357
*,^ IsoRay Inc. 848,470 357
*,^ Cyclacel Pharmaceuticals Inc. 262,733 355
*,^ Biomerica Inc. 87,053 352
* Biolase Inc. 857,379 349
  Vaxart Inc. 68,320 346
*,^ Bio-Path Holdings Inc. 172,093 344
*,^ Catasys Inc. 70,338 338
  Diversicare Healthcare Services Inc. 44,377 334
*,^ Champions Oncology Inc. 91,690 332
*,^ Titan Pharmaceuticals Inc. 314,060 330
*,^ Diffusion Pharmaceuticals Inc. 598,788 327
* Soligenix Inc. 164,445 321
*,^ CEL-SCI Corp. 215,407 304
*,^ Microbot Medical Inc. 448,366 303
*,^ Eleven Biotherapeutics Inc. 276,057 290
* Proteon Therapeutics Inc. 114,390 286
*,^ AzurRx BioPharma Inc. 90,434 284
*,^ Aradigm Corp. 229,443 280
* ImmuCell Corp. 39,754 278
*,^ Ohr Pharmaceutical Inc. 1,229,202 270

 

 

*,^ SELLAS Life Sciences Group Inc. 78,173 270
*,^ Oncobiologics Inc. 298,375 266
*,^ Trovagene Inc. 740,594 259
*,^ CorMedix Inc. 1,340,125 243
*,^ Chiasma Inc. 161,721 243
* Checkpoint Therapeutics Inc. 54,915 241
* PLx Pharma Inc. 67,837 227
^ Altimmune Inc. 177,700 206
* Pro-Dex Inc. 27,970 192
* Arcus Biosciences Inc. 12,220 189
* Retractable Technologies Inc. 177,573 183
*,^ Novus Therapeutics Inc. 32,860 158
*,^ Cytori Therapeutics Inc. 546,165 156
*,^ Achieve Life Sciences Inc. 122,218 155
*,^ Biocept Inc. 512,481 151
* Bioanalytical Systems Inc. 92,933 149
*,^ iBio Inc. 683,866 148
*,^ Fibrocell Science Inc. 241,312 142
*,^ Sonoma Pharmaceuticals Inc. 38,184 141
*,^ Pulmatrix Inc. 257,404 131
*,^ Onconova Therapeutics Inc. 143,903 120
*,^ Cellectar Biosciences Inc. 97,148 110
*,^ Apricus Biosciences Inc. 268,463 109
*,^ Hemispherx Biopharma Inc. 275,268 109
* Homology Medicines Inc. 5,595 105
*,^ Anthera Pharmaceuticals Inc. 279,216 89
*,^ Heat Biologics Inc. 50,309 82
* Eyenovia Inc. 8,038 75
* Co-Diagnostics Inc. 32,012 70
* Citius Pharmaceuticals Inc. 22,052 68
*,^ Soleno Therapeutics Inc. 37,205 67
*,^ OpGen Inc. 34,783 58
*,^ Cesca Therapeutics Inc. 26,268 53
* ProPhase Labs Inc. 16,508 49
*,^ Milestone Scientific Inc. 63,770 46
*,^ Dare Bioscience Inc. 47,341 40
*,^ NovaBay Pharmaceuticals Inc. 11,471 40
* American Shared Hospital Services 4,591 12
*,^ AquaBounty Technologies Inc. 3,550 10
* Galena Biopharma Inc Warrants Exp. 03/18/2020 157,500 —
* Sunesis Pharmaceuticals Inc. Warrants Exp. 10/27/2018 12,500 —
      83,997,899
Industrials (13.4%)    
  Boeing Co. 14,517,780 4,760,090
  3M Co. 14,689,070 3,224,545
  General Electric Co. 213,956,230 2,884,130
  Honeywell International Inc. 18,538,960 2,679,065
  Union Pacific Corp. 19,224,377 2,584,333
  United Technologies Corp. 18,741,967 2,358,114
  Accenture plc Class A 15,215,904 2,335,641
  Caterpillar Inc. 14,739,086 2,172,246
* PayPal Holdings Inc. 28,129,941 2,134,219
  Lockheed Martin Corp. 5,988,588 2,023,724
  United Parcel Service Inc. Class B 16,980,875 1,777,218
  Raytheon Co. 7,118,469 1,536,308
  Danaher Corp. 15,490,863 1,516,710
  Northrop Grumman Corp. 4,295,692 1,499,712

 

 

FedEx Corp. 5,946,503 1,427,815
General Dynamics Corp. 6,228,365 1,375,846
Deere & Co. 7,971,813 1,238,182
Automatic Data Processing Inc. 10,390,373 1,179,100
CSX Corp. 20,794,976 1,158,488
Illinois Tool Works Inc. 7,158,819 1,121,501
Emerson Electric Co. 15,661,471 1,069,678
Norfolk Southern Corp. 7,002,999 950,867
Waste Management Inc. 10,684,307 898,764
Eaton Corp. plc 10,866,149 868,314
TE Connectivity Ltd. 8,658,530 864,987
Sherwin-Williams Co. 2,075,618 813,891
Johnson Controls International plc 22,848,757 805,190
Fidelity National Information Services Inc. 8,164,103 786,203
* Fiserv Inc. 10,275,330 732,734
Roper Technologies Inc. 2,523,260 708,254
Amphenol Corp. Class A 7,535,524 649,035
Cummins Inc. 3,878,644 628,689
* Worldpay Inc. Class A 7,394,086 608,090
Fortive Corp. 7,722,495 598,648
PACCAR Inc. 8,680,553 574,392
Parker-Hannifin Corp. 3,275,692 560,242
Rockwell Automation Inc. 3,152,959 549,245
Rockwell Collins Inc. 4,027,302 543,082
Agilent Technologies Inc. 7,960,793 532,577
Ingersoll-Rand plc 6,162,329 526,941
Paychex Inc. 7,972,426 491,022
Waste Connections Inc. 6,511,359 467,125
* FleetCor Technologies Inc. 2,215,079 448,553
Global Payments Inc. 3,927,436 437,988
AMETEK Inc. 5,702,649 433,230
WestRock Co. 6,289,258 403,582
* Verisk Analytics Inc. Class A 3,859,905 401,430
L3 Technologies Inc. 1,928,099 401,045
Fastenal Co. 7,091,768 387,140
Dover Corp. 3,805,439 373,770
WW Grainger Inc. 1,320,506 372,739
Vulcan Materials Co. 3,263,020 372,539
* Mettler-Toledo International Inc. 628,256 361,266
* United Rentals Inc. 2,081,032 359,457
Cintas Corp. 2,100,052 358,227
TransDigm Group Inc. 1,158,105 355,469
Republic Services Inc. Class A 5,317,716 352,192
Total System Services Inc. 4,078,277 351,792
Ball Corp. 8,637,600 342,999
Textron Inc. 5,814,111 342,858
Xylem Inc. 4,429,174 340,692
* CoStar Group Inc. 891,756 323,422
CH Robinson Worldwide Inc. 3,438,753 322,246
Martin Marietta Materials Inc. 1,551,915 321,712
Broadridge Financial Solutions Inc. 2,873,854 315,233
Masco Corp. 7,723,916 312,355
* XPO Logistics Inc. 2,958,185 301,173
Huntington Ingalls Industries Inc. 1,103,528 284,445
Kansas City Southern 2,541,382 279,171
Expeditors International of Washington Inc. 4,355,580 275,708
Pentair plc 4,025,048 274,226

 

 

IDEX Corp. 1,888,964 269,196
Packaging Corp. of America 2,325,254 262,056
* TransUnion 4,531,455 257,296
Old Dominion Freight Line Inc. 1,726,275 253,711
JB Hunt Transport Services Inc. 2,164,113 253,526
Alliance Data Systems Corp. 1,158,766 246,655
Arconic Inc. 10,688,259 246,257
* Keysight Technologies Inc. 4,631,906 242,666
Spirit AeroSystems Holdings Inc. Class A 2,822,274 236,224
Jack Henry & Associates Inc. 1,903,869 230,273
AO Smith Corp. 3,589,384 228,249
* Trimble Inc. 6,217,777 223,094
Owens Corning 2,754,141 221,433
Fortune Brands Home & Security Inc. 3,730,478 219,688
* Sensata Technologies Holding plc 4,220,100 218,728
Cognex Corp. 4,065,054 211,342
Jacobs Engineering Group Inc. 3,493,461 206,638
PerkinElmer Inc. 2,715,350 205,606
* IPG Photonics Corp. 860,596 200,846
Allegion plc 2,347,522 200,220
Lennox International Inc. 965,542 197,328
Fluor Corp. 3,446,696 197,220
Graco Inc. 4,187,261 191,442
ManpowerGroup Inc. 1,631,342 187,767
Orbital ATK Inc. 1,415,497 187,709
* Zebra Technologies Corp. 1,313,856 182,876
* First Data Corp. Class A 11,318,522 181,096
* Berry Global Group Inc. 3,233,993 177,255
Sealed Air Corp. 4,133,687 176,880
Nordson Corp. 1,286,144 175,353
Wabtec Corp. 2,131,346 173,492
Xerox Corp. 5,963,916 171,641
FLIR Systems Inc. 3,417,086 170,888
Robert Half International Inc. 2,921,496 169,125
* Crown Holdings Inc. 3,298,654 167,407
* Arrow Electronics Inc. 2,159,376 166,315
* WEX Inc. 1,061,135 166,195
* HD Supply Holdings Inc. 4,371,195 165,843
Hubbell Inc. Class B 1,350,881 164,510
Carlisle Cos. Inc. 1,521,317 158,841
Toro Co. 2,517,008 157,187
BWX Technologies Inc. 2,461,035 156,350
* Teledyne Technologies Inc. 832,441 155,808
Knight-Swift Transportation Holdings Inc. 3,291,615 151,447
National Instruments Corp. 2,920,847 147,707
Acuity Brands Inc. 1,040,444 144,819
Donaldson Co. Inc. 3,207,072 144,479
Hexcel Corp. 2,219,621 143,365
Oshkosh Corp. 1,844,204 142,502
* AECOM 3,926,748 139,910
Flowserve Corp. 3,224,622 139,723
AptarGroup Inc. 1,541,902 138,509
Lincoln Electric Holdings Inc. 1,539,146 138,446
MDU Resources Group Inc. 4,844,322 136,416
Watsco Inc. 749,875 135,705
HEICO Corp. Class A 1,870,989 132,747
Curtiss-Wright Corp. 980,653 132,457

 

 

  Booz Allen Hamilton Holding Corp. Class A 3,403,477 131,783
* Quanta Services Inc. 3,802,676 130,622
  Allison Transmission Holdings Inc. 3,284,970 128,311
  Littelfuse Inc. 597,974 124,486
  Avnet Inc. 2,966,993 123,902
* Stericycle Inc. 2,103,564 123,122
  Genpact Ltd. 3,811,165 121,919
  Trinity Industries Inc. 3,724,807 121,540
  Sonoco Products Co. 2,458,387 119,232
  Jabil Inc. 4,119,991 118,367
  Eagle Materials Inc. 1,141,958 117,679
  Graphic Packaging Holding Co. 7,638,498 117,251
  Crane Co. 1,244,816 115,444
* Coherent Inc. 612,975 114,871
  Landstar System Inc. 1,036,267 113,627
  EMCOR Group Inc. 1,444,798 112,593
  AGCO Corp. 1,662,825 107,834
* Genesee & Wyoming Inc. Class A 1,517,623 107,433
  MAXIMUS Inc. 1,603,352 107,008
  ITT Inc. 2,169,821 106,278
  Universal Display Corp. 1,043,089 105,352
  Air Lease Corp. Class A 2,424,244 103,321
  Louisiana-Pacific Corp. 3,581,957 103,053
* Kirby Corp. 1,324,390 101,912
  MSC Industrial Direct Co. Inc. Class A 1,110,473 101,841
* On Assignment Inc. 1,222,471 100,096
  Woodward Inc. 1,363,366 97,699
* Euronet Worldwide Inc. 1,236,496 97,584
  Bemis Co. Inc. 2,238,300 97,411
  Ryder System Inc. 1,302,018 94,774
* Conduent Inc. 4,939,504 92,072
* CoreLogic Inc. 2,030,218 91,827
  John Bean Technologies Corp. 782,321 88,715
* KLX Inc. 1,245,720 88,521
  Deluxe Corp. 1,188,938 87,993
* Owens-Illinois Inc. 4,022,570 87,129
* USG Corp. 2,100,456 84,900
  Brink's Co. 1,183,053 84,411
* Summit Materials Inc. Class A 2,722,265 82,430
* Cimpress NV 529,374 81,894
  Kennametal Inc. 1,998,652 80,266
  Regal Beloit Corp. 1,093,225 80,188
  Timken Co. 1,737,424 79,227
* Trex Co. Inc. 727,346 79,113
  Valmont Industries Inc. 533,673 78,076
* MasTec Inc. 1,629,000 76,644
* Rexnord Corp. 2,566,440 76,172
  Barnes Group Inc. 1,250,248 74,877
*,^ Proto Labs Inc. 624,649 73,427
  Macquarie Infrastructure Corp. 1,975,979 72,973
* WESCO International Inc. 1,158,875 71,908
  EnerSys 1,034,531 71,765
  Belden Inc. 1,036,596 71,463
  Terex Corp. 1,908,859 71,410
  MSA Safety Inc. 852,151 70,933
* RBC Bearings Inc. 570,273 70,828
* Generac Holdings Inc. 1,541,999 70,793

 

 

  Applied Industrial Technologies Inc. 951,963 69,398
  Korn/Ferry International 1,322,926 68,250
  Tetra Tech Inc. 1,382,042 67,651
* TopBuild Corp. 882,783 67,551
* AMN Healthcare Services Inc. 1,181,422 67,046
  GATX Corp. 938,989 64,311
  Maxar Technologies Ltd. 1,390,187 64,296
  Insperity Inc. 923,246 64,212
* Moog Inc. Class A 769,618 63,424
* Colfax Corp. 1,979,896 63,159
* Armstrong World Industries Inc. 1,116,527 62,860
* Clean Harbors Inc. 1,270,814 62,028
  UniFirst Corp. 379,452 61,338
  Vishay Intertechnology Inc. 3,260,777 60,650
  Simpson Manufacturing Co. Inc. 1,044,362 60,145
* Itron Inc. 813,761 58,225
* II-VI Inc. 1,386,215 56,696
  KBR Inc. 3,448,926 55,838
* Builders FirstSource Inc. 2,795,153 55,456
  Granite Construction Inc. 982,034 54,856
  ABM Industries Inc. 1,617,046 54,139
* Esterline Technologies Corp. 737,596 53,955
* Rogers Corp. 448,861 53,657
  Watts Water Technologies Inc. Class A 688,496 53,496
  Silgan Holdings Inc. 1,916,438 53,373
* Anixter International Inc. 701,446 53,135
* Gardner Denver Holdings Inc. 1,704,462 52,293
* JELD-WEN Holding Inc. 1,689,437 51,731
  Convergys Corp. 2,249,895 50,893
* Plexus Corp. 838,399 50,078
  Exponent Inc. 634,952 49,939
* SPX FLOW Inc. 994,183 48,904
*,^ Axon Enterprise Inc. 1,240,201 48,752
* TriNet Group Inc. 1,033,091 47,853
  Mobile Mini Inc. 1,098,771 47,797
* Saia Inc. 632,869 47,560
* Aerojet Rocketdyne Holdings Inc. 1,676,762 46,899
  Universal Forest Products Inc. 1,437,187 46,637
* Meritor Inc. 2,196,997 45,170
  Albany International Corp. 719,217 45,095
* FTI Consulting Inc. 924,857 44,772
* ExlService Holdings Inc. 796,672 44,430
* WageWorks Inc. 978,902 44,246
* Integer Holdings Corp. 779,717 44,093
* Sanmina Corp. 1,673,271 43,756
* Floor & Decor Holdings Inc. Class A 822,287 42,858
* Masonite International Corp. 698,177 42,833
  Mueller Water Products Inc. Class A 3,920,160 42,612
  Otter Tail Corp. 980,554 42,507
  Schneider National Inc. Class B 1,628,330 42,434
  Covanta Holding Corp. 2,918,516 42,318
* Navistar International Corp. 1,209,828 42,308
  Kaman Corp. 679,002 42,180
  Brady Corp. Class A 1,128,669 41,930
  World Fuel Services Corp. 1,674,103 41,099
* Harsco Corp. 1,982,358 40,936
  EnPro Industries Inc. 525,581 40,669

 

 

Greif Inc. Class A 775,203 40,504
* Novanta Inc. 769,388 40,124
Franklin Electric Co. Inc. 974,616 39,716
Triton International Ltd. 1,290,317 39,484
Forward Air Corp. 736,623 38,938
Cubic Corp. 609,337 38,754
Werner Enterprises Inc. 1,059,484 38,671
* Ambarella Inc. 783,567 38,387
AAON Inc. 983,182 38,344
* American Woodmark Corp. 388,701 38,268
Comfort Systems USA Inc. 923,642 38,100
* Atlas Air Worldwide Holdings Inc. 629,780 38,070
Sun Hydraulics Corp. 699,491 37,465
Benchmark Electronics Inc. 1,237,436 36,937
Boise Cascade Co. 955,573 36,885
* Paylocity Holding Corp. 718,016 36,784
Chicago Bridge & Iron Co. NV 2,521,854 36,315
AAR Corp. 814,879 35,944
ManTech International Corp. Class A 645,155 35,787
Mueller Industries Inc. 1,361,283 35,611
Greenbrier Cos. Inc. 707,432 35,548
ESCO Technologies Inc. 600,180 35,141
Methode Electronics Inc. 896,363 35,048
* Cotiviti Holdings Inc. 1,015,442 34,972
General Cable Corp. 1,179,652 34,918
Actuant Corp. Class A 1,487,804 34,591
* Patrick Industries Inc. 559,074 34,579
* Imperva Inc. 794,951 34,421
* TTM Technologies Inc. 2,250,177 34,405
HEICO Corp. 396,210 34,395
* Milacron Holdings Corp. 1,706,249 34,364
Altra Industrial Motion Corp. 725,042 33,316
* MINDBODY Inc. Class A 847,919 32,984
* Hub Group Inc. Class A 788,049 32,980
* SPX Corp. 1,007,123 32,711
Federal Signal Corp. 1,466,969 32,303
* Air Transport Services Group Inc. 1,380,836 32,201
Badger Meter Inc. 678,520 31,992
* Advanced Disposal Services Inc. 1,434,129 31,952
Raven Industries Inc. 879,596 30,830
* Installed Building Products Inc. 511,176 30,696
* BMC Stock Holdings Inc. 1,566,143 30,618
H&E Equipment Services Inc. 790,376 30,422
Apogee Enterprises Inc. 699,450 30,321
McGrath RentCorp 564,689 30,318
Standex International Corp. 314,364 29,975
* TriMas Corp. 1,121,899 29,450
Triumph Group Inc. 1,162,798 29,302
* OSI Systems Inc. 441,253 28,801
Tennant Co. 425,226 28,788
Matson Inc. 1,004,285 28,763
US Ecology Inc. 538,236 28,688
Wabash National Corp. 1,375,216 28,618
* Sykes Enterprises Inc. 985,676 28,525
Astec Industries Inc. 507,878 28,025
AZZ Inc. 637,412 27,855
* Knowles Corp. 2,184,581 27,504

 

 

  Encore Wire Corp. 483,044 27,389
  Aircastle Ltd. 1,374,246 27,293
* Fabrinet 868,961 27,268
* Gibraltar Industries Inc. 789,190 26,714
* Continental Building Products Inc. 925,683 26,428
* TrueBlue Inc. 1,016,710 26,333
  Viad Corp. 500,579 26,255
  Kadant Inc. 276,094 26,091
  Primoris Services Corp. 1,035,871 25,876
  Materion Corp. 499,518 25,500
  ICF International Inc. 436,184 25,495
* Cardtronics plc Class A 1,130,995 25,232
  Alamo Group Inc. 227,770 25,032
* GMS Inc. 814,890 24,903
  Lindsay Corp. 262,729 24,024
* FARO Technologies Inc. 408,872 23,878
* Aerovironment Inc. 524,672 23,878
*,^ US Concrete Inc. 386,899 23,369
* CBIZ Inc. 1,279,059 23,343
  Multi-Color Corp. 352,426 23,278
  EVERTEC Inc. 1,420,166 23,220
  Douglas Dynamics Inc. 528,154 22,895
* KEMET Corp. 1,246,554 22,600
^ ADT Inc. 2,843,611 22,550
* Casella Waste Systems Inc. Class A 958,795 22,417
*,^ Evolent Health Inc. Class A 1,561,717 22,254
  MTS Systems Corp. 429,257 22,171
* Kratos Defense & Security Solutions Inc. 2,150,379 22,127
  Manitowoc Co. Inc. 774,977 22,056
* Tutor Perini Corp. 989,769 21,824
* PGT Innovations Inc. 1,165,026 21,728
* Navigant Consulting Inc. 1,122,864 21,604
^ Sturm Ruger & Co. Inc. 408,415 21,442
  Marten Transport Ltd. 935,719 21,334
  Advanced Drainage Systems Inc. 823,377 21,325
  Kelly Services Inc. Class A 730,183 21,204
  AVX Corp. 1,273,152 21,071
  CTS Corp. 769,075 20,919
  Heartland Express Inc. 1,149,180 20,674
* Huron Consulting Group Inc. 542,121 20,655
  Schnitzer Steel Industries Inc. 638,326 20,650
* Veeco Instruments Inc. 1,184,939 20,144
* Atkore International Group Inc. 983,681 19,526
  Quad/Graphics Inc. 768,465 19,481
* Lydall Inc. 402,016 19,397
  ArcBest Corp. 599,264 19,206
* NCI Building Systems Inc. 1,080,407 19,123
* Gates Industrial Corp. plc 1,059,487 18,552
*,^ MACOM Technology Solutions Holdings Inc. 1,103,549 18,319
* Thermon Group Holdings Inc. 807,516 18,096
* Echo Global Logistics Inc. 646,696 17,849
  CIRCOR International Inc. 409,893 17,486
* Aegion Corp. Class A 759,877 17,409
  Global Brass & Copper Holdings Inc. 517,321 17,304
  Columbus McKinnon Corp. 475,365 17,037
*,^ Inovalon Holdings Inc. Class A 1,497,381 15,872
  Griffon Corp. 867,509 15,832

 

 

  Kforce Inc. 583,846 15,793
  Argan Inc. 367,644 15,790
* DXP Enterprises Inc. 396,515 15,444
  NN Inc. 641,903 15,406
* Electro Scientific Industries Inc. 787,562 15,224
* Astronics Corp. 402,974 15,031
  RR Donnelley & Sons Co. 1,716,938 14,989
  Quanex Building Products Corp. 854,080 14,861
  REV Group Inc. 713,180 14,806
  Gorman-Rupp Co. 501,450 14,667
  Myers Industries Inc. 691,168 14,618
  Hyster-Yale Materials Handling Inc. 206,633 14,450
  LSC Communications Inc. 813,579 14,197
* Wesco Aircraft Holdings Inc. 1,380,159 14,147
* Donnelley Financial Solutions Inc. 823,670 14,142
  Cass Information Systems Inc. 237,644 14,142
  Barrett Business Services Inc. 170,149 14,102
  Heidrick & Struggles International Inc. 435,214 13,600
*,^ American Outdoor Brands Corp. 1,306,526 13,483
  Spartan Motors Inc. 777,193 13,368
* TimkenSteel Corp. 871,318 13,235
* Vicor Corp. 435,714 12,440
  RPX Corp. 1,152,939 12,325
  Insteel Industries Inc. 440,921 12,183
* Control4 Corp. 565,020 12,137
* MYR Group Inc. 385,799 11,890
  Ennis Inc. 596,227 11,746
  Mesa Laboratories Inc. 78,502 11,653
  Resources Connection Inc. 702,424 11,379
* NV5 Global Inc. 200,264 11,165
* Engility Holdings Inc. 457,241 11,157
* Ply Gem Holdings Inc. 513,140 11,084
  VSE Corp. 211,954 10,962
* Everi Holdings Inc. 1,653,126 10,861
* InnerWorkings Inc. 1,150,211 10,409
  TTEC Holdings Inc. 336,780 10,339
  CRA International Inc. 191,041 9,990
* Kimball Electronics Inc. 617,081 9,966
  B. Riley Financial Inc. 504,217 9,832
  NVE Corp. 118,253 9,828
*,^ Team Inc. 695,135 9,558
* Cross Country Healthcare Inc. 850,397 9,448
* International Seaways Inc. 535,546 9,426
* CAI International Inc. 435,637 9,262
  DMC Global Inc. 345,642 9,246
* Eagle Bulk Shipping Inc. 1,796,531 8,893
* Covenant Transportation Group Inc. Class A 297,596 8,877
* Landec Corp. 676,346 8,826
* PHH Corp. 833,091 8,714
* Daseke Inc. 887,702 8,691
* Heritage-Crystal Clean Inc. 367,732 8,660
* Ducommun Inc. 278,697 8,467
  Park Electrochemical Corp. 497,394 8,376
  Park-Ohio Holdings Corp. 204,603 7,949
* Vishay Precision Group Inc. 253,801 7,906
* Mistras Group Inc. 415,320 7,866
  Allied Motion Technologies Inc. 197,176 7,838

 

 

  Daktronics Inc. 861,667 7,591
*,^ Energous Corp. 472,394 7,572
  Hurco Cos. Inc. 162,816 7,473
* ServiceSource International Inc. 1,949,350 7,427
* Sterling Construction Co. Inc. 639,979 7,334
*,^ Energy Recovery Inc. 883,064 7,259
* YRC Worldwide Inc. 814,339 7,191
  American Railcar Industries Inc. 188,389 7,048
* GP Strategies Corp. 307,882 6,974
* Armstrong Flooring Inc. 505,011 6,853
* Blue Bird Corp. 288,078 6,827
  Essendant Inc. 874,737 6,823
* BlueLinx Holdings Inc. 203,099 6,619
* Franklin Covey Co. 243,153 6,541
* Great Lakes Dredge & Dock Corp. 1,408,260 6,478
* Layne Christensen Co. 430,447 6,422
  Miller Industries Inc. 254,724 6,368
* Hill International Inc. 1,115,671 6,359
  Powell Industries Inc. 234,015 6,281
* Willdan Group Inc. 211,109 5,985
  Omega Flex Inc. 90,399 5,885
^ Advanced Emissions Solutions Inc. 514,401 5,874
*,^ CryoPort Inc. 660,693 5,682
* Foundation Building Materials Inc. 378,239 5,640
  Hardinge Inc. 300,949 5,513
  LSI Industries Inc. 669,774 5,432
* UFP Technologies Inc. 182,461 5,383
* Twin Disc Inc. 245,443 5,336
* PRGX Global Inc. 561,707 5,308
* Commercial Vehicle Group Inc. 669,377 5,188
  Graham Corp. 237,610 5,090
* LB Foster Co. Class A 210,553 4,958
* Horizon Global Corp. 600,575 4,949
* Overseas Shipholding Group Inc. Class A 1,699,431 4,826
*,^ Maxwell Technologies Inc. 799,869 4,743
* USA Truck Inc. 183,331 4,673
*,^ Hudson Technologies Inc. 926,557 4,577
^ EnviroStar Inc. 115,641 4,539
* Era Group Inc. 482,581 4,512
* Sparton Corp. 255,893 4,455
* Nuvectra Corp. 338,203 4,403
  Eastern Co. 154,082 4,391
  Bel Fuse Inc. Class B 228,822 4,325
* Acacia Research Corp. 1,231,814 4,311
  National Research Corp. Class B 87,371 4,237
  National Research Corp. Class A 144,853 4,237
* Willis Lease Finance Corp. 121,637 4,170
  FreightCar America Inc. 308,772 4,138
* Astronics Corp. Class B 111,320 4,117
* Orion Group Holdings Inc. 621,454 4,095
* Gencor Industries Inc. 251,320 4,046
* Information Services Group Inc. 964,217 4,030
  Universal Logistics Holdings Inc. 184,833 3,909
* Northwest Pipe Co. 225,768 3,906
*,^ Forterra Inc. 467,345 3,888
  BG Staffing Inc. 203,010 3,855
* Manitex International Inc. 336,769 3,849

 

 

  Crawford & Co. Class A 437,179 3,506
*,^ CyberOptics Corp. 193,613 3,485
* Iteris Inc. 694,246 3,443
  United States Lime & Minerals Inc. 46,612 3,411
* Intevac Inc. 491,946 3,394
*,^ ShotSpotter Inc. 127,158 3,370
  CECO Environmental Corp. 752,337 3,348
* Radiant Logistics Inc. 857,780 3,320
* Napco Security Technologies Inc. 282,903 3,310
  NACCO Industries Inc. Class A 99,351 3,264
* IES Holdings Inc. 206,891 3,134
* PFSweb Inc. 355,961 3,111
*,^ Asure Software Inc. 252,124 3,086
* IntriCon Corp. 152,977 3,060
*,^ Nuverra Environmental Solutions Inc. 129,335 2,991
  Crawford & Co. Class B 342,589 2,816
* StarTek Inc. 274,531 2,685
  Richardson Electronics Ltd. 336,052 2,672
* Houston Wire & Cable Co. 363,498 2,663
* Roadrunner Transportation Systems Inc. 1,026,628 2,608
^ Celadon Group Inc. 696,454 2,577
*,^ Huttig Building Products Inc. 492,582 2,576
* Lawson Products Inc. 100,929 2,548
* Transcat Inc. 161,258 2,524
* PAM Transportation Services Inc. 66,676 2,424
* Goldfield Corp. 590,960 2,275
* ARC Document Solutions Inc. 1,014,895 2,233
* Aspen Aerogels Inc. 501,784 2,143
*,^ MicroVision Inc. 1,885,440 2,131
  Global Water Resources Inc. 235,836 2,115
*,^ ExOne Co. 279,558 2,035
* Ultralife Corp. 200,885 2,009
* Arotech Corp. 636,010 1,940
* General Finance Corp. 261,649 1,897
* Xerium Technologies Inc. 285,836 1,844
*,^ Workhorse Group Inc. 660,953 1,745
  Steel Connect Inc. 810,199 1,718
* Perceptron Inc. 195,912 1,675
*,^ CUI Global Inc. 643,279 1,672
* Frequency Electronics Inc. 191,069 1,672
* DHI Group Inc. 1,001,975 1,603
* Sharps Compliance Corp. 341,266 1,549
*,^ Babcock & Wilcox Enterprises Inc. 345,252 1,509
* Luna Innovations Inc. 461,527 1,495
* CPI Aerostructures Inc. 149,909 1,462
*,^ UQM Technologies Inc. 1,096,725 1,415
*,^ Revolution Lighting Technologies Inc. 388,578 1,333
* Perma-Pipe International Holdings Inc. 136,141 1,232
*,^ Aqua Metals Inc. 472,524 1,224
* Hudson Global Inc. 604,126 1,172
* Limbach Holdings Inc. 91,251 1,130
* Mattersight Corp. 535,988 1,126
* Ballantyne Strong Inc. 233,667 1,040
*,^ LightPath Technologies Inc. Class A 472,290 1,039
*,^ Capstone Turbine Corp. 886,553 1,015
  Espey Manufacturing & Electronics Corp. 36,513 957
* Universal Technical Institute Inc. 323,666 952

 

 

*,^ ClearSign Combustion Corp. 464,971 942
* ALJ Regional Holdings Inc. 433,960 911
* IEC Electronics Corp. 192,084 863
*,^ Odyssey Marine Exploration Inc. 102,906 851
* Lincoln Educational Services Corp. 411,937 795
*,^ eMagin Corp. 545,071 790
* Perma-Fix Environmental Services 190,337 790
* Wireless Telecom Group Inc. 316,572 772
*,^ Applied DNA Sciences Inc. 516,369 744
  Issuer Direct Corp. 43,268 736
* Innovative Solutions & Support Inc. 206,801 730
* Taylor Devices Inc. 67,427 728
  Black Box Corp. 322,731 645
  Greif Inc. Class B 11,048 644
*,^ Lightbridge Corp. 506,800 593
* Volt Information Sciences Inc. 184,537 563
*,^ Energy Focus Inc. 215,166 544
  AMCON Distributing Co. 5,948 535
*,^ Vertex Energy Inc. 440,810 494
* SigmaTron International Inc. 84,764 492
  RF Industries Ltd. 106,818 491
* Air T Inc. 19,270 482
* Broadwind Energy Inc. 217,860 479
* Cardlytics Inc. 32,504 476
*,^ Medical Transcription Billing Corp. 138,038 460
* Tecogen Inc. 159,320 456
*,^ Synthesis Energy Systems Inc. 167,199 448
* ASV Holdings Inc. 54,894 399
  Chicago Rivet & Machine Co. 11,328 355
*,^ Cemtrex Inc. 120,430 343
*,^ Air Industries Group 222,863 343
*,^ Orion Energy Systems Inc. 393,206 334
* Image Sensing Systems Inc. 74,588 317
* DLH Holdings Corp. 52,984 309
* AMREP Corp. 41,838 301
*,^ Research Frontiers Inc. 305,937 298
*,^ Polar Power Inc. 54,712 271
* Pioneer Power Solutions Inc. 41,047 261
*,^ Digital Ally Inc. 99,249 258
* Fuel Tech Inc. 210,278 252
  Ecology and Environment Inc. 21,480 249
*,^ EnSync Inc. 618,294 234
*,^ Turtle Beach Corp. 360,823 216
*,^ GEE Group Inc. 81,570 216
* Sypris Solutions Inc. 127,117 207
*,^ Payment Data Systems Inc. 111,311 203
* Continental Materials Corp. 8,941 175
* ENGlobal Corp. 210,413 175
  Bel Fuse Inc. Class A 10,580 175
* Rubicon Technology Inc. 24,849 173
* Echelon Corp. 30,896 142
* Industrial Services of America Inc. 55,088 136
* JetPay Corp. 56,499 130
* AeroCentury Corp. 6,716 116
*,^ Coda Octopus Group Inc. 27,130 94
* SIFCO Industries Inc. 16,533 91
*,^ Astrotech Corp. 34,437 91

 

 

* Quest Resource Holding Corp. 39,194 87
* Command Security Corp. 25,285 77
*,^ Professional Diversity Network Inc. 17,385 49
  Servotronics Inc. 4,914 49
*,^ American Electric Technologies Inc. 43,277 48
* SG Blocks Inc. 8,584 40
* Electro-Sensors Inc. 1,291 5
* Jewett-Cameron Trading Co. Ltd. 185 3
*,^ Patriot National Inc. 129,819 2
* Dorian LPG Ltd. 20 —
*,2 LGL Group Inc. Warrants Exp. 06/08/2018 3,000 —
      89,812,547
Oil & Gas (5.5%)    
  Exxon Mobil Corp. 104,531,661 7,799,107
  Chevron Corp. 47,128,688 5,374,556
  Schlumberger Ltd. 34,154,204 2,212,509
  ConocoPhillips 28,982,756 1,718,388
  EOG Resources Inc. 14,264,572 1,501,631
  Occidental Petroleum Corp. 18,873,496 1,226,022
  Phillips 66 11,248,960 1,079,000
  Valero Energy Corp. 10,789,586 1,000,950
  Halliburton Co. 19,433,492 912,208
  Marathon Petroleum Corp. 12,045,827 880,670
  Anadarko Petroleum Corp. 13,139,101 793,733
  Pioneer Natural Resources Co. 4,201,711 721,770
  Kinder Morgan Inc. 46,248,833 696,507
  ONEOK Inc. 10,051,338 572,122
* Concho Resources Inc. 3,676,330 552,663
  Williams Cos. Inc. 20,397,352 507,078
  Devon Energy Corp. 12,983,881 412,758
  Hess Corp. 7,383,664 373,761
  Noble Energy Inc. 12,014,143 364,029
  Andeavor 3,600,520 362,068
  Apache Corp. 9,401,550 361,772
  National Oilwell Varco Inc. 9,399,371 345,991
  Marathon Oil Corp. 20,971,885 338,277
  EQT Corp. 6,524,663 309,987
* Diamondback Energy Inc. 2,421,279 306,340
  Baker Hughes a GE Co. 10,572,597 293,601
  Cabot Oil & Gas Corp. 11,415,825 273,751
* Cheniere Energy Inc. 4,980,329 266,199
  Targa Resources Corp. 5,399,745 237,589
  Cimarex Energy Co. 2,354,736 220,168
  HollyFrontier Corp. 4,372,652 213,648
* Parsley Energy Inc. Class A 5,912,194 171,395
  Helmerich & Payne Inc. 2,553,206 169,941
  OGE Energy Corp. 4,924,289 161,369
* Energen Corp. 2,401,476 150,957
* RSP Permian Inc. 3,131,024 146,782
* WPX Energy Inc. 9,836,958 145,390
* First Solar Inc. 1,932,987 137,203
* Continental Resources Inc. 2,317,070 136,591
* Newfield Exploration Co. 4,920,230 120,152
  Core Laboratories NV 1,092,878 118,271
* Antero Resources Corp. 5,872,629 116,572
*,^ Transocean Ltd. 10,756,941 106,494
  Murphy Oil Corp. 4,046,778 104,569

 

 

  Patterson-UTI Energy Inc. 5,494,596 96,210
  Range Resources Corp. 6,108,109 88,812
  PBF Energy Inc. Class A 2,575,883 87,322
* Centennial Resource Development Inc. Class A 4,514,004 82,832
* PDC Energy Inc. 1,626,281 79,737
  Delek US Holdings Inc. 1,869,540 76,090
* Whiting Petroleum Corp. 2,240,852 75,830
* Matador Resources Co. 2,291,806 68,548
* Callon Petroleum Co. 4,985,194 66,004
*,^ Chesapeake Energy Corp. 21,342,138 64,453
* Oasis Petroleum Inc. 7,762,078 62,873
* Southwestern Energy Co. 14,476,947 62,685
* QEP Resources Inc. 5,959,880 58,347
* SRC Energy Inc. 5,943,768 56,050
*,^ Weatherford International plc 24,419,496 55,921
* CNX Resources Corp. 3,590,113 55,395
  Nabors Industries Ltd. 7,502,297 52,441
  SM Energy Co. 2,745,726 49,505
  Ensco plc Class A 10,706,831 47,003
  Oceaneering International Inc. 2,445,968 45,348
* Chart Industries Inc. 760,639 44,901
* McDermott International Inc. 6,978,880 42,501
* Dril-Quip Inc. 941,399 42,175
  SemGroup Corp. Class A 1,936,055 41,432
* C&J Energy Services Inc. 1,532,235 39,562
* Gulfport Energy Corp. 4,058,491 39,164
  Pattern Energy Group Inc. Class A 2,177,930 37,656
* Oil States International Inc. 1,406,317 36,846
* Rowan Cos. plc Class A 3,103,789 35,818
* MRC Global Inc. 2,159,833 35,508
* Laredo Petroleum Inc. 3,893,325 33,911
* Superior Energy Services Inc. 3,784,669 31,905
* Carrizo Oil & Gas Inc. 1,907,131 30,514
* Extraction Oil & Gas Inc. 2,577,260 29,535
^ RPC Inc. 1,617,163 29,157
* Denbury Resources Inc. 9,910,335 27,154
* NOW Inc. 2,647,744 27,060
* Unit Corp. 1,299,188 25,672
* ProPetro Holding Corp. 1,548,800 24,610
*,^ Diamond Offshore Drilling Inc. 1,539,352 22,567
* Noble Corp. plc 6,038,421 22,403
* Exterran Corp. 835,731 22,314
* Forum Energy Technologies Inc. 1,987,471 21,862
* Alta Mesa Resources Inc. 2,605,878 20,847
* SEACOR Holdings Inc. 394,760 20,172
* Ultra Petroleum Corp. 4,822,247 20,109
* Helix Energy Solutions Group Inc. 3,466,867 20,073
* Ring Energy Inc. 1,394,330 20,009
*,^ Jagged Peak Energy Inc. 1,343,576 18,985
* Halcon Resources Corp. 3,659,139 17,820
*,^ California Resources Corp. 1,005,289 17,241
* Cactus Inc. 639,750 17,228
* Keane Group Inc. 1,107,697 16,394
*,^ Resolute Energy Corp. 472,006 16,355
* Newpark Resources Inc. 2,012,850 16,304
  Green Plains Inc. 947,601 15,920
* Tidewater Inc. 545,524 15,607

 

 

  Archrock Inc. 1,742,600 15,248
*,^ Tellurian Inc. 1,933,203 13,938
* HighPoint Resources Corp. 2,743,365 13,936
* Par Pacific Holdings Inc. 781,053 13,411
  CVR Energy Inc. 430,060 12,996
*,^ SunPower Corp. Class A 1,538,990 12,281
* FTS International Inc. 666,045 12,249
* Stone Energy Corp. 324,763 12,049
* SandRidge Energy Inc. 826,926 11,999
* Bonanza Creek Energy Inc. 430,522 11,930
*,^ WildHorse Resource Development Corp. 622,539 11,884
* Renewable Energy Group Inc. 916,699 11,734
* Select Energy Services Inc. Class A 876,555 11,062
* Penn Virginia Corp. 304,873 10,683
*,^ Plug Power Inc. 5,608,925 10,601
* REX American Resources Corp. 144,513 10,521
* TETRA Technologies Inc. 2,701,226 10,130
* W&T Offshore Inc. 2,256,797 9,998
* Abraxas Petroleum Corp. 3,903,907 8,667
* Matrix Service Co. 617,688 8,462
* Flotek Industries Inc. 1,325,762 8,087
* Basic Energy Services Inc. 543,558 7,849
* Solaris Oilfield Infrastructure Inc. Class A 470,651 7,794
*,^ Enphase Energy Inc. 1,676,885 7,663
* SEACOR Marine Holdings Inc. 396,139 7,535
* TPI Composites Inc. 334,344 7,506
  Panhandle Oil and Gas Inc. Class A 386,927 7,468
* Natural Gas Services Group Inc. 310,963 7,416
  Bristow Group Inc. 564,780 7,342
* Trecora Resources 530,148 7,210
* ION Geophysical Corp. 264,764 7,175
* Mammoth Energy Services Inc. 221,778 7,110
* Green Brick Partners Inc. 618,520 6,742
* Midstates Petroleum Co. Inc. 465,615 6,207
*,^ Sanchez Energy Corp. 1,931,444 6,045
*,^ Zion Oil & Gas Inc. 1,223,768 5,825
*,^ Liberty Oilfield Services Inc. Class A 333,332 5,630
* Ameresco Inc. Class A 417,754 5,431
  Evolution Petroleum Corp. 666,003 5,361
* SilverBow Resources Inc. 169,993 4,947
* Pioneer Energy Services Corp. 1,790,993 4,836
* Nine Energy Service Inc. 190,220 4,632
* Earthstone Energy Inc. Class A 442,914 4,482
*,^ CARBO Ceramics Inc. 531,072 3,850
* Dawson Geophysical Co. 534,709 3,604
*,^ FuelCell Energy Inc. 1,997,433 3,456
* PHI Inc. (Non-Voting Shares) 328,800 3,367
* NCS Multistage Holdings Inc. 216,831 3,252
* Energy XXI Gulf Coast Inc. 818,879 3,145
* Geospace Technologies Corp. 317,569 3,134
* Pacific Ethanol Inc. 1,042,957 3,129
*,^ Smart Sand Inc. 533,783 3,107
* Key Energy Services Inc. 260,791 3,056
* Independence Contract Drilling Inc. 792,781 2,997
  Gulf Island Fabrication Inc. 379,466 2,694
*,^ Approach Resources Inc. 1,027,137 2,681
*,^ Lilis Energy Inc. 673,813 2,675

 

 

*,^ American Superconductor Corp. 440,279 2,562
* Comstock Resources Inc. 348,907 2,551
  Adams Resources & Energy Inc. 56,816 2,472
* Gulfmark Offshore Inc. 84,648 2,455
*,^ Gastar Exploration Inc. 3,552,286 2,425
* Hornbeck Offshore Services Inc. 798,105 2,322
*,^ Northern Oil and Gas Inc. 1,056,723 2,092
* Contango Oil & Gas Co. 574,719 2,040
* Parker Drilling Co. 3,198,041 2,031
* Goodrich Petroleum Corp. 161,800 1,775
*,^ Isramco Inc. 17,021 1,767
* Lonestar Resources US Inc. Class A 400,880 1,740
* Eclipse Resources Corp. 1,179,038 1,698
*,^ Jones Energy Inc. Class A 1,997,029 1,598
* Ranger Energy Services Inc. 170,100 1,385
*,^ Erin Energy Corp. 378,180 1,380
*,^ EP Energy Corp. Class A 1,024,693 1,373
*,^ NextDecade Corp. 267,422 1,321
*,^ Torchlight Energy Resources Inc. 793,893 1,032
* VAALCO Energy Inc. 1,074,850 926
*,^ Stone Energy Corp. Warrants Exp. 02/28/2021 116,107 848
* Willbros Group Inc. 1,408,037 778
* Mitcham Industries Inc. 232,826 754
* PHI Inc. (Voting Shares) 70,397 717
*,^ Rosehill Resources Inc. 112,200 659
*,^ Ocean Power Technologies Inc. 499,865 535
*,^ Eco-Stim Energy Solutions Inc. 533,133 506
*,^ Enservco Corp. 553,228 503
* Quintana Energy Services Inc. 31,982 312
* PetroQuest Energy Inc. 447,372 260
*,^ Aemetis Inc. 139,286 237
*,^ Ideal Power Inc. 188,206 215
* Superior Drilling Products Inc. 114,640 190
*,^ Yuma Energy Inc. 141,728 154
*,^ Houston American Energy Corp. 378,349 118
*,^ SAExploration Holdings Inc. 25,156 34
* Tidewater Inc. Warrants Series A 8,839 32
* Tidewater Inc. Warrants Series B 9,555 29
*,^ Bonanza Creek Energy Inc. Warrants Exp. 04/28/2020 33,839 5
* Basic Energy Services Inc. Warrants Exp. 12/23/2023 4,640 3
* Rex Energy Corp. 302 —
2 Harvest Natural Resources Inc. 51,829 —
      36,815,289
Other (0.0%)3    
*,2 Dyax Corp. CVR Exp. 12/31/2019 2,750,063 5,500
*,2 Herbalife Ltd. CVR 234,057 2,270
*,^,2 Babcock & Wilcox Enterprises Inc. Rights Exp. 04/30/2018 1,085,911 2,083
*,^,2 Tobira Therapeutics CVR Exp. 12/31/2028 201,001 911
*,2 NewStar Financial Inc. CVR 551,185 271
*,^,2 Ocera Therapeutics CVR Line 653,477 176
*,2 Ambit Biosciences Corp. CVR 201,330 121
*,2 Media General Inc. CVR 2,351,934 91
*,2 Omthera Pharmaceuticals Inc. CVR 121,311 73
*,^ Famous Dave's of America Inc. Rights Exp. 04/10/2018 20,157 73
* Kadmon Warrants Exp. 09/29/2022 169,257 61
*,2 Alexza Pharmaceuticals Inc. CVR 327,391 11
*,2 Achieve Life Sciences Inc. CVR 228,587 2

 

 

*,2 Seventy Seven Energy Inc. Escrow Line 7,222 1
*,2 Clinical Data CVR 216,285 —
*,2 Chelsea Therapeutics International Ltd. CVR 1,157,305 —
*,2 Adolor Corp. Rights Exp. 07/01/2019 592,629 —
*,^,2 Biosante Pharmaceutical Inc. CVR 253,823 —
*,2 NuPathe Inc. CVR 158,681 —
*,^,2 Ditech Holding Corp Warrants Exp. 01/31/2028 43,103 —
*,^,2 Ditech Holding Corp Series B Warrants Exp. 01/31/2028 34,201 —
      11,644
Technology (19.3%)    
  Apple Inc. 112,662,178 18,902,460
  Microsoft Corp. 189,957,882 17,337,456
* Facebook Inc. Class A 59,107,893 9,444,850
* Alphabet Inc. Class A 7,332,719 7,605,056
* Alphabet Inc. Class C 7,366,690 7,600,877
  Intel Corp. 115,167,847 5,997,941
  Cisco Systems Inc. 118,848,428 5,097,409
  International Business Machines Corp. 22,840,661 3,504,443
  Oracle Corp. 76,593,415 3,504,149
  NVIDIA Corp. 13,454,277 3,115,876
* Adobe Systems Inc. 12,128,984 2,620,831
  Texas Instruments Inc. 24,268,688 2,521,274
  Broadcom Ltd. 10,127,189 2,386,472
  QUALCOMM Inc. 36,522,408 2,023,707
* salesforce.com Inc. 16,921,480 1,967,968
* Micron Technology Inc. 28,525,346 1,487,312
  Applied Materials Inc. 25,920,928 1,441,463
  Cognizant Technology Solutions Corp. Class A 14,501,439 1,167,366
  Intuit Inc. 5,999,722 1,040,052
  HP Inc. 40,581,613 889,549
  Analog Devices Inc. 9,188,642 837,361
  Lam Research Corp. 4,018,865 816,473
  DXC Technology Co. 7,048,338 708,569
* ServiceNow Inc. 4,259,124 704,672
* Autodesk Inc. 5,434,027 682,405
  Hewlett Packard Enterprise Co. 38,651,494 677,947
  Western Digital Corp. 7,341,046 677,358
* Red Hat Inc. 4,362,408 652,224
  Corning Inc. 21,135,450 589,256
  Microchip Technology Inc. 5,777,804 527,860
  Harris Corp. 2,928,832 472,362
  Xilinx Inc. 6,284,145 453,967
* Twitter Inc. 15,576,637 451,878
* Cerner Corp. 7,788,242 451,718
  Skyworks Solutions Inc. 4,501,955 451,366
* Workday Inc. Class A 3,382,751 429,981
  KLA-Tencor Corp. 3,865,152 421,340
  Motorola Solutions Inc. 3,978,859 418,974
  Maxim Integrated Products Inc. 6,936,835 417,736
  NetApp Inc. 6,607,093 407,592
  Symantec Corp. 15,331,098 396,309
* Palo Alto Networks Inc. 2,152,498 390,721
  Seagate Technology plc 6,321,468 369,932
* Dell Technologies Inc. Class V 5,009,502 366,746
* Splunk Inc. 3,490,071 343,388
* ANSYS Inc. 2,069,631 324,290
* Square Inc. 6,299,383 309,930

 

 

* Synopsys Inc. 3,675,786 305,972
* Arista Networks Inc. 1,185,265 302,598
* Citrix Systems Inc. 3,192,808 296,293
* IAC/InterActiveCorp 1,894,217 296,218
* Akamai Technologies Inc. 3,959,950 281,077
  CDW Corp. 3,775,468 265,453
  CA Inc. 7,696,841 260,923
* ON Semiconductor Corp. 10,478,893 256,314
* Cadence Design Systems Inc. 6,967,475 256,194
* Gartner Inc. 2,128,082 250,305
  Leidos Holdings Inc. 3,722,447 243,448
*,^ VeriSign Inc. 2,039,947 241,856
  SS&C Technologies Holdings Inc. 4,312,192 231,306
*,^ Advanced Micro Devices Inc. 22,601,676 227,147
  Juniper Networks Inc. 9,250,842 225,073
* PTC Inc. 2,868,764 223,792
  Teradyne Inc. 4,836,446 221,074
* F5 Networks Inc. 1,524,896 220,515
* Qorvo Inc. 3,121,867 219,936
*,^ VMware Inc. Class A 1,781,443 216,036
  CDK Global Inc. 3,316,077 210,040
  Marvell Technology Group Ltd. 9,771,875 205,209
* GoDaddy Inc. Class A 3,259,507 200,199
* Veeva Systems Inc. Class A 2,732,286 199,512
* Fortinet Inc. 3,641,944 195,135
* CommScope Holding Co. Inc. 4,711,517 188,319
* Tyler Technologies Inc. 887,966 187,325
* Microsemi Corp. 2,885,018 186,718
*,^ Snap Inc. 10,957,743 173,899
* Ultimate Software Group Inc. 699,621 170,498
  CSRA Inc. 4,033,955 166,320
  MKS Instruments Inc. 1,339,625 154,928
  Garmin Ltd. 2,556,797 150,672
* Guidewire Software Inc. 1,858,830 150,249
  LogMeIn Inc. 1,292,354 149,331
* EPAM Systems Inc. 1,241,341 142,158
* athenahealth Inc. 989,995 141,599
* Proofpoint Inc. 1,242,112 141,166
* Aspen Technology Inc. 1,782,568 140,627
  Cypress Semiconductor Corp. 7,806,779 132,403
* Cavium Inc. 1,631,440 129,504
* Tableau Software Inc. Class A 1,583,661 127,991
* Nutanix Inc. 2,590,568 127,223
*,^ Paycom Software Inc. 1,168,354 125,470
  DST Systems Inc. 1,463,439 122,417
  Entegris Inc. 3,494,046 121,593
  Blackbaud Inc. 1,186,987 120,847
* Fair Isaac Corp. 708,000 119,914
* Teradata Corp. 2,987,650 118,520
* ARRIS International plc 4,390,002 116,642
* Nuance Communications Inc. 7,239,495 114,022
* Zendesk Inc. 2,377,386 113,805
  Monolithic Power Systems Inc. 933,809 108,107
* 2U Inc. 1,224,001 102,853
* Integrated Device Technology Inc. 3,270,299 99,940
* Cree Inc. 2,462,843 99,277
* RingCentral Inc. Class A 1,526,174 96,912

 

 

* Silicon Laboratories Inc. 1,057,392 95,060
* NCR Corp. 3,008,575 94,830
*,^ Lumentum Holdings Inc. 1,461,100 93,218
* CACI International Inc. Class A 609,260 92,211
* Ciena Corp. 3,539,341 91,669
* HubSpot Inc. 837,707 90,724
*,^ ViaSat Inc. 1,379,225 90,643
  j2 Global Inc. 1,134,892 89,566
  SYNNEX Corp. 743,462 88,026
* Medidata Solutions Inc. 1,370,055 86,053
* Tech Data Corp. 938,818 79,922
* RealPage Inc. 1,534,515 79,028
* Dycom Industries Inc. 725,548 78,091
* New Relic Inc. 1,027,421 76,152
  Science Applications International Corp. 956,155 75,345
* Ellie Mae Inc. 802,359 73,769
* FireEye Inc. 4,325,767 73,235
* Manhattan Associates Inc. 1,678,996 70,316
* ACI Worldwide Inc. 2,924,226 69,363
  Cabot Microelectronics Corp. 631,358 67,625
* Verint Systems Inc. 1,572,439 66,986
* MuleSoft Inc. Class A 1,476,116 64,920
* Semtech Corp. 1,642,177 64,127
* Cirrus Logic Inc. 1,553,881 63,134
  InterDigital Inc. 853,234 62,798
* Advanced Energy Industries Inc. 980,988 62,685
* Twilio Inc. Class A 1,614,634 61,647
* Avaya Holdings Corp. 2,733,972 61,241
* Envestnet Inc. 1,039,022 59,536
* Callidus Software Inc. 1,636,018 58,815
* Box Inc. 2,821,739 57,987
* Qualys Inc. 787,681 57,304
* CommVault Systems Inc. 999,934 57,196
* Pure Storage Inc. Class A 2,783,832 55,537
* Mercury Systems Inc. 1,134,811 54,834
* Allscripts Healthcare Solutions Inc. 4,420,857 54,598
* Viavi Solutions Inc. 5,584,426 54,281
* NetScout Systems Inc. 2,043,222 53,839
  Pegasystems Inc. 868,842 52,695
* Cloudera Inc. 2,437,775 52,607
*,^ Match Group Inc. 1,174,194 52,181
* Cornerstone OnDemand Inc. 1,283,320 50,191
  Pitney Bowes Inc. 4,589,541 49,980
  Plantronics Inc. 823,938 49,741
* EchoStar Corp. Class A 910,770 48,061
  Power Integrations Inc. 700,606 47,886
  Brooks Automation Inc. 1,649,087 44,657
  Cogent Communications Holdings Inc. 1,023,316 44,412
* Finisar Corp. 2,800,957 44,283
  Progress Software Corp. 1,142,501 43,929
* Coupa Software Inc. 952,109 43,435
* Premier Inc. Class A 1,372,351 42,968
* VeriFone Systems Inc. 2,737,297 42,100
* NETGEAR Inc. 731,480 41,841
  Ebix Inc. 543,992 40,527
* Infinera Corp. 3,711,301 40,305
* Q2 Holdings Inc. 883,581 40,247

 

 

*,^ Ubiquiti Networks Inc. 575,712 39,609
* Synaptics Inc. 849,633 38,854
* Five9 Inc. 1,299,472 38,711
  TiVo Corp. 2,854,512 38,679
* Oclaro Inc. 3,988,487 38,130
* Okta Inc. 943,241 37,588
  CSG Systems International Inc. 826,552 37,435
* Bottomline Technologies de Inc. 949,399 36,789
* Rambus Inc. 2,712,331 36,427
* Varonis Systems Inc. 595,513 36,029
* MaxLinear Inc. 1,493,515 33,977
* Virtusa Corp. 653,233 31,656
* Electronics For Imaging Inc. 1,134,542 31,007
*,^ 3D Systems Corp. 2,671,929 30,968
* Blackline Inc. 784,000 30,741
* Insight Enterprises Inc. 879,023 30,704
* Extreme Networks Inc. 2,732,502 30,249
* MicroStrategy Inc. Class A 231,147 29,816
* Diodes Inc. 975,733 29,721
* Instructure Inc. 681,218 28,713
* Alarm.com Holdings Inc. 759,871 28,678
*,^ Inphi Corp. 940,410 28,306
* SPS Commerce Inc. 426,735 27,341
* Blucora Inc. 1,069,013 26,298
  Xperi Corp. 1,220,012 25,803
  Diebold Nixdorf Inc. 1,661,940 25,594
* ePlus Inc. 329,138 25,574
* Hortonworks Inc. 1,246,768 25,397
* Dropbox Inc. Class A 794,919 24,617
* FormFactor Inc. 1,775,787 24,239
* Amkor Technology Inc. 2,382,030 24,130
* Boingo Wireless Inc. 946,519 23,445
  Monotype Imaging Holdings Inc. 1,028,711 23,095
* ScanSource Inc. 625,822 22,248
* PROS Holdings Inc. 673,677 22,238
* Everbridge Inc. 598,727 21,913
* LivePerson Inc. 1,324,357 21,653
* Web.com Group Inc. 1,158,776 20,974
* Syntel Inc. 820,941 20,959
*,^ Acacia Communications Inc. 542,866 20,879
* Apptio Inc. Class A 735,302 20,838
* Rapid7 Inc. 806,137 20,613
* Cray Inc. 993,600 20,568
* Shutterstock Inc. 426,884 20,554
  NIC Inc. 1,543,905 20,534
* Rudolph Technologies Inc. 738,019 20,443
* CEVA Inc. 538,987 19,511
* Axcelis Technologies Inc. 790,943 19,457
* CalAmp Corp. 829,859 18,987
  ADTRAN Inc. 1,208,602 18,794
* Perficient Inc. 816,243 18,708
* Alteryx Inc. Class A 532,442 18,178
* Quality Systems Inc. 1,328,143 18,129
* Ultra Clean Holdings Inc. 890,953 17,151
* Carbonite Inc. 578,353 16,657
* Nanometrics Inc. 612,924 16,488
  Comtech Telecommunications Corp. 551,256 16,477

 

 

* Super Micro Computer Inc. 949,065 16,134
* Lattice Semiconductor Corp. 2,851,241 15,881
* CommerceHub Inc. 704,814 15,851
* Vocera Communications Inc. 643,313 15,066
  Cohu Inc. 657,679 15,002
  Switch Inc. 922,108 14,671
* Xcerra Corp. 1,258,684 14,664
*,^ Yext Inc. 1,131,359 14,312
* ForeScout Technologies Inc. 434,613 14,099
* Workiva Inc. 593,323 14,062
* Photronics Inc. 1,688,243 13,928
* SailPoint Technologies Holding Inc. 670,045 13,863
* Altair Engineering Inc. Class A 434,757 13,634
*,^ Unisys Corp. 1,250,613 13,444
* Loral Space & Communications Inc. 318,580 13,269
*,^ Ichor Holdings Ltd. 540,019 13,074
* Tabula Rasa HealthCare Inc. 330,785 12,834
* Appfolio Inc. 305,222 12,468
* Presidio Inc. 789,412 12,346
*,^ Gogo Inc. 1,380,596 11,915
*,^ Benefitfocus Inc. 461,261 11,255
*,^ Applied Optoelectronics Inc. 447,749 11,221
* USA Technologies Inc. 1,242,454 11,182
*,^ Cision Ltd. 959,933 11,106
* Upland Software Inc. 380,689 10,960
* Endurance International Group Holdings Inc. 1,480,355 10,955
* Vectrus Inc. 289,681 10,788
* Limelight Networks Inc. 2,555,176 10,502
  Systemax Inc. 364,062 10,394
* Model N Inc. 562,667 10,156
  Forrester Research Inc. 244,937 10,153
* MongoDB Inc. 233,831 10,148
* VASCO Data Security International Inc. 746,986 9,673
* Synchronoss Technologies Inc. 889,793 9,387
*,^ KeyW Holding Corp. 1,173,682 9,225
^ Computer Programs & Systems Inc. 314,177 9,174
  Hackett Group Inc. 561,201 9,013
  American Software Inc. Class A 690,159 8,972
  QAD Inc. Class A 214,789 8,946
*,^ Immersion Corp. 735,112 8,785
* Zscaler Inc. 305,958 8,588
* PDF Solutions Inc. 664,802 7,752
* Calix Inc. 1,131,614 7,752
* Alpha & Omega Semiconductor Ltd. 498,758 7,706
  PC Connection Inc. 298,774 7,469
* Harmonic Inc. 1,950,085 7,410
* Rosetta Stone Inc. 563,421 7,409
* Quantenna Communications Inc. 519,716 7,120
* Digi International Inc. 678,563 6,989
* A10 Networks Inc. 1,197,161 6,967
* CommerceHub Inc. Class A 308,516 6,942
* MobileIron Inc. 1,392,156 6,891
* AXT Inc. 948,518 6,877
*,^ NeoPhotonics Corp. 984,099 6,741
* Zix Corp. 1,532,609 6,544
*,^ Digimarc Corp. 273,233 6,544
* Mitek Systems Inc. 860,467 6,367

 

 

*,^ TransEnterix Inc. 3,723,801 6,330
* Brightcove Inc. 895,139 6,221
*,^ WideOpenWest Inc. 865,646 6,189
* DSP Group Inc. 523,947 6,183
* Castlight Health Inc. Class B 1,669,015 6,092
* Sigma Designs Inc. 971,763 6,025
* ChannelAdvisor Corp. 652,914 5,942
* SendGrid Inc. 206,623 5,814
* Ribbon Communications Inc. 1,128,371 5,755
*,^ Kopin Corp. 1,762,567 5,499
* Agilysys Inc. 454,440 5,417
* Amber Road Inc. 596,529 5,309
*,^ Impinj Inc. 407,658 5,308
* Internap Corp. 462,657 5,089
*,^ VirnetX Holding Corp. 1,263,963 4,993
* Ooma Inc. 448,671 4,890
  Preformed Line Products Co. 73,908 4,811
* Telenav Inc. 856,653 4,626
  Simulations Plus Inc. 298,396 4,401
* RigNet Inc. 319,157 4,341
*,^ Appian Corp. Class A 171,111 4,309
* PAR Technology Corp. 289,316 4,076
* KVH Industries Inc. 385,252 3,987
* ConvergeOne Holdings Inc. 430,200 3,975
* EMCORE Corp. 690,255 3,934
* Meet Group Inc. 1,855,598 3,878
  TESSCO Technologies Inc. 158,040 3,659
* Clearfield Inc. 282,541 3,645
*,^ Aquantia Corp. 224,855 3,530
* Bandwidth Inc. Class A 102,165 3,337
*,^ Exela Technologies Inc. 593,106 3,280
* Aerohive Networks Inc. 804,167 3,249
* Telaria Inc. 845,774 3,180
* Computer Task Group Inc. 384,353 3,148
*,^ QuickLogic Corp. 2,064,240 3,138
*,^ Casa Systems Inc. 104,787 3,074
* Seachange International Inc. 1,113,792 3,018
* Pixelworks Inc. 769,595 2,978
*,^ Park City Group Inc. 333,673 2,920
  PC-Tel Inc. 403,760 2,899
* Fusion Telecommunications International Inc. 882,842 2,852
* eGain Corp. 353,747 2,812
*,^ Quantum Corp. 766,946 2,792
* GSI Technology Inc. 368,484 2,730
  TransAct Technologies Inc. 206,018 2,689
* Adesto Technologies Corp. 362,343 2,681
  AstroNova Inc. 168,670 2,614
* Amtech Systems Inc. 352,960 2,584
* ID Systems Inc. 414,467 2,578
* Datawatch Corp. 293,389 2,538
* VOXX International Corp. Class A 492,421 2,437
* Key Tronic Corp. 301,701 2,100
*,^ SITO Mobile Ltd. 479,955 1,929
* SecureWorks Corp. Class A 234,363 1,894
*,^ Veritone Inc. 135,000 1,879
* Aware Inc. 432,908 1,797
  GlobalSCAPE Inc. 469,361 1,727

 

 

*,^ Airgain Inc. 219,697 1,700
*,^ Everspin Technologies Inc. 221,295 1,671
* Edgewater Technology Inc. 299,696 1,663
* Great Elm Capital Group Inc. 414,911 1,660
*,^ Helios & Matheson Analytics Inc. 577,156 1,633
* Data I/O Corp. 219,273 1,631
*,^ CVD Equipment Corp. 173,894 1,588
* inTEST Corp. 238,227 1,584
* Identiv Inc. 413,264 1,546
*,^ Inseego Corp. 830,617 1,478
  RCM Technologies Inc. 255,019 1,471
* BSQUARE Corp. 337,101 1,433
* LRAD Corp. 604,296 1,390
*,^ Atomera Inc. 219,062 1,367
* Aviat Networks Inc. 81,079 1,359
* Support.com Inc. 473,810 1,308
*,^ Rimini Street Inc. 148,622 1,272
  ClearOne Inc. 155,448 1,236
*,^ Resonant Inc. 385,252 1,229
  QAD Inc. Class B 38,958 1,220
* Synacor Inc. 677,563 1,084
* Finjan Holdings Inc. 328,551 1,068
*,^ Neurotrope Inc. 131,201 1,065
* Icad Inc. 342,414 1,055
*,^ Ominto Inc. 336,216 965
* DASAN Zhone Solutions Inc. 85,125 960
* Xplore Technologies Corp. 292,147 947
*,^ Aehr Test Systems 417,457 939
* GSE Systems Inc. 275,429 895
*,^ NXT-ID Inc. 449,415 894
  Network-1 Technologies Inc. 304,119 806
* Innodata Inc. 643,214 695
* NetSol Technologies Inc. 147,068 676
* Evolving Systems Inc. 139,315 669
* WidePoint Corp. 1,146,132 666
*,^ SharpSpring Inc. 101,651 647
* ACM Research Inc. Class A 51,793 637
* Westell Technologies Inc. Class A 183,100 613
*,^ iPass Inc. 1,597,520 607
  RELM Wireless Corp. 129,063 510
* Intermolecular Inc. 388,778 509
*,^ Tintri Inc. 296,012 506
* Marin Software Inc. 72,462 482
  CSP Inc. 43,624 469
* CCUR Holdings Inc. 85,899 412
* Streamline Health Solutions Inc. 207,827 382
*,^ Smith Micro Software Inc. 217,859 381
*,^ Neonode Inc. 843,592 355
*,^ Intellicheck Inc. 196,842 354
*,^ Radisys Corp. 534,812 343
*,^ CynergisTek Inc. 68,763 342
* Lantronix Inc. 164,876 340
*,^ Sunworks Inc. 317,501 302
*,^ Inuvo Inc. 315,731 290
*,^ XpresSpa Group Inc. 384,210 277
  Communications Systems Inc. 73,726 271
* Trio-Tech International 46,648 268

 

 

*,^ ParkerVision Inc. 331,909 266
*,^ Netlist Inc. 1,118,674 258
* ARC Group Worldwide Inc. 117,147 228
* Majesco 41,259 209
* Socket Mobile Inc. 64,296 208
* Cinedigm Corp. Class A 138,637 190
* Qumu Corp. 105,861 186
* Determine Inc. 96,597 137
*,^ xG Technology Inc. 124,766 130
*,^ Xcel Brands Inc. 36,848 118
*,^ RumbleON Inc. Class B 28,148 117
* BroadVision Inc. 33,284 90
* Mastech Digital Inc. 4,280 53
*,2 Gerber Scientific Inc. CVR 388,581 44
* Sonic Foundry Inc. 17,328 38
* ADDvantage Technologies Group Inc. 29,519 38
  SilverSun Technologies Inc. 2,301 9
* Intelligent Systems Corp. 1,683 9
* CMTSU Liquidation Inc. 113,650 1
      129,769,479
Telecommunications (1.7%)    
  AT&T Inc. 151,518,151 5,401,622
  Verizon Communications Inc. 101,760,923 4,866,207
* T-Mobile US Inc. 7,372,757 450,033
  CenturyLink Inc. 23,737,571 390,008
* Zayo Group Holdings Inc. 5,198,833 177,592
*,^ Sprint Corp. 14,837,352 72,406
  Telephone & Data Systems Inc. 2,315,029 64,890
* Vonage Holdings Corp. 5,064,366 53,936
* GTT Communications Inc. 805,194 45,655
  Shenandoah Telecommunications Co. 1,149,293 41,375
* 8x8 Inc. 2,155,779 40,205
*,^ Iridium Communications Inc. 2,049,067 23,052
  Consolidated Communications Holdings Inc. 1,736,498 19,032
* ORBCOMM Inc. 1,720,830 16,124
  ATN International Inc. 259,333 15,462
* Cincinnati Bell Inc. 1,029,560 14,260
^ Frontier Communications Corp. 1,912,275 14,189
* United States Cellular Corp. 328,300 13,194
*,^ Globalstar Inc. 13,903,876 9,559
* pdvWireless Inc. 310,293 9,262
  Spok Holdings Inc. 479,524 7,169
  Windstream Holdings Inc. 4,481,871 6,320
* HC2 Holdings Inc. 1,040,874 5,475
*,^ Intelsat SA 1,329,015 4,997
* Hawaiian Telcom Holdco Inc. 144,051 3,843
  IDT Corp. Class B 422,763 2,651
* Alaska Communications Systems Group Inc. 1,193,525 2,148
* Rafael Holdings Inc. Class B 211,381 1,025
* Otelco Inc. Class A 54,107 806
* CPS Technologies Corp. 41,009 55
      11,772,552
Utilities (2.8%)    
  NextEra Energy Inc. 11,617,928 1,897,556
  Duke Energy Corp. 17,256,421 1,336,855
  Southern Co. 24,754,004 1,105,514

 

 

  Dominion Energy Inc. 15,870,589 1,070,154
  Exelon Corp. 23,795,695 928,270
  American Electric Power Co. Inc. 12,113,703 830,879
  Sempra Energy 6,770,373 753,001
  Public Service Enterprise Group Inc. 12,481,866 627,089
  Consolidated Edison Inc. 7,649,485 596,201
  Xcel Energy Inc. 12,503,670 568,667
  PG&E Corp. 12,712,040 558,440
  Edison International 8,042,412 511,980
  WEC Energy Group Inc. 7,789,504 488,402
  PPL Corp. 17,098,320 483,711
  DTE Energy Co. 4,413,616 460,782
  Eversource Energy 7,804,634 459,849
  FirstEnergy Corp. 11,719,989 398,597
  American Water Works Co. Inc. 4,397,864 361,197
  Entergy Corp. 4,449,235 350,511
  Ameren Corp. 5,999,473 339,750
  CMS Energy Corp. 6,933,312 314,010
  CenterPoint Energy Inc. 10,589,763 290,160
  Atmos Energy Corp. 2,762,592 232,721
  Alliant Energy Corp. 5,689,123 232,458
  NRG Energy Inc. 7,418,486 226,486
  Pinnacle West Capital Corp. 2,750,410 219,483
  NiSource Inc. 8,295,740 198,351
  UGI Corp. 4,295,513 190,807
  Westar Energy Inc. Class A 3,527,557 185,514
  AES Corp. 16,270,494 184,996
  Great Plains Energy Inc. 5,328,734 169,400
  Aqua America Inc. 4,414,257 150,350
*,^ Vistra Energy Corp. 6,354,965 132,374
  SCANA Corp. 3,524,474 132,344
  Vectren Corp. 2,059,672 131,654
  IDACORP Inc. 1,246,651 110,042
  WGL Holdings Inc. 1,267,187 106,000
  National Fuel Gas Co. 1,856,721 95,528
  Hawaiian Electric Industries Inc. 2,688,809 92,441
  ALLETE Inc. 1,258,885 90,954
  Portland General Electric Co. 2,189,897 88,713
  New Jersey Resources Corp. 2,184,588 87,602
  ONE Gas Inc. 1,318,196 87,027
  Spire Inc. 1,144,511 82,748
  Avista Corp. 1,605,593 82,287
  Avangrid Inc. 1,582,342 80,889
  Southwest Gas Holdings Inc. 1,128,692 76,333
  PNM Resources Inc. 1,966,143 75,205
  Black Hills Corp. 1,311,042 71,190
  NorthWestern Corp. 1,212,744 65,246
  South Jersey Industries Inc. 1,998,528 56,279
  Ormat Technologies Inc. 940,764 53,040
  El Paso Electric Co. 1,011,255 51,574
* Dynegy Inc. 3,572,583 48,301
  MGE Energy Inc. 859,882 48,239
  American States Water Co. 907,894 48,173
  California Water Service Group 1,180,424 43,971
  Northwest Natural Gas Co. 723,094 41,686
  Chesapeake Utilities Corp. 388,908 27,360
* Evoqua Water Technologies Corp. 1,112,375 23,682

 

 

  SJW Group     440,873 23,238
*,^ Sunrun Inc.     2,125,659 18,982
  Connecticut Water Service Inc.     295,941 17,913
  TerraForm Power Inc. Class A     1,664,586 17,861
  Unitil Corp.     370,498 17,195
  Middlesex Water Co.     386,296 14,177
  York Water Co.     336,580 10,434
*,^ Cadiz Inc.     599,868 8,098
  Artesian Resources Corp. Class A     215,514 7,862
* Atlantic Power Corp.     3,156,815 6,629
* Pure Cycle Corp.     495,466 4,682
  RGC Resources Inc.     160,839 4,085
^ Spark Energy Inc. Class A     290,855 3,447
* AquaVenture Holdings Ltd.     267,894 3,327
*,^ Vivint Solar Inc.     767,171 2,800
* US Geothermal Inc.     490,121 2,627
  Genie Energy Ltd. Class B     379,378 1,893
          19,018,273
Total Common Stocks (Cost $425,871,598)       669,426,499
Preferred Stocks (0.0%)        
*,^,† GCI Liberty Inc. Pfd., 5.00%, 3/10/39     113,580 2,652
  (Cost $1,730)        
Temporary Cash Investments (0.7%)1        
    Coupon      
Money Market Fund (0.7%)        
4,5 Vanguard Market Liquidity Fund 1.775%   44,548,836 4,454,883
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)      
6 United States Treasury Bill 1.432% 4/26/18 47,000 46,950
6 United States Treasury Bill 1.559%-1.602% 5/24/18 45,700 45,592
6 United States Treasury Bill 1.578% 6/7/18 5,000 4,985
6 United States Treasury Bill 1.633% 6/14/18 1,600 1,595
6 United States Treasury Bill 1.737% 7/19/18 35,000 34,816
          133,938
Total Temporary Cash Investments (Cost $4,588,395)     4,588,821
Total Investments (100.2%) (Cost $430,461,723)       674,017,972
Other Asset and Liabilities-Net (-0.2%)5,7       (1,641,937)
Net Assets (100%)       672,376,035

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is
$1,885,071,000.
† Security not classified by the fund’s benchmark index.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts and
swap contracts. After giving effect to futures and swap investments, the fund's effective common stock and
temporary cash investment positions represent 100.0% and 0.2%, respectively, of net assets.
2 Security value determined using significant unobservable inputs.
3 “Other” represents securities that are not classified by the fund’s benchmark index.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $2,015,933,000 of collateral received for securities on loan.
6 Securities with a value of $127,674,000 have been segregated as initial margin for open futures contracts.

 

7 Cash with a value of $1,150,000 has been segregated as collateral for open over-the-counter swap contracts.
ADR—American Depositary Receipt.
CVR—Contingent Value Rights.
REIT—Real Estate Investment Trust.

Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional  Appreciation
  Expiration Contracts Amount  (Depreciation)
Long Futures Contracts        
E-mini S&P 500 Index June 20,341 2,688,063 (117,124)
  2018      
E-mini Russell 2000 Index June 2018 1,914 146,536 (6,709)
E-mini S&P Mid-Cap 400 Index June 2018 240 45,194 (1,020)
        (124,853)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

Total Return Swaps          
        Floating Value and
        Interest Unrealized
      Notional Rate Appreciation
  Termination   Amount Received (Depreciation)
Reference Entity Date Counterparty ($000) (Paid)1 ($000)
Ambac Financial Group 4/11/18 GSCM 7,922 (2.2082%) 681
Gaming and Leisure Properties Inc. 6/21/18 GSCM 16,286 (2.3907%) (227)
SLM Corp. 5/9/18 GSI 46,453 (2.2082%) 96
          550
GSCM—Goldman Sachs Capital Management.
GSI—Goldman Sachs International.
1 Payment received/paid monthly.

 

At March 31, 2018, the counterparty had deposited in segregated accounts cash of $550,000 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 materially 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 board of

 

Total Stock Market Index Fund

trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 669,411,093 169 15,237
Preferred Stocks 2,652 — —
Temporary Cash Investments 4,454,883 133,938 —
Futures Contracts—Assets1 37,970 — —
Swap Contracts—Assets — 777 —
Swap Contracts—Liabilities — (227) —
Total 673,906,598 134,657 15,237
1 Represents variation margin on the last day of the reporting period.

 

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks in the fund's target index. Under the terms of the swaps, the fund

 

Total Stock Market Index 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 invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

The notional amounts of swap contracts are not recorded in the Schedule of Investments. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as unrealized appreciation (depreciation) until termination of the swap, at which time realized gain (loss) is recorded.

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.

E. At March 31, 2018, the cost of investment securities for tax purposes was $442,614,716,000. Net unrealized appreciation of investment securities for tax purposes was $231,403,256,000, consisting of unrealized gains of $247,586,017,000 on securities that had risen in value since their purchase and $16,182,761,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Value Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
 
 
      Market
      Value
    Shares ($000)
Common Stocks (99.7%)1    
Basic Materials (3.2%)    
  DowDuPont Inc. 12,025,576 766,149
  Air Products & Chemicals Inc. 1,130,612 179,801
  LyondellBasell Industries NV Class A 1,630,209 172,280
  PPG Industries Inc. 1,289,342 143,891
* Freeport-McMoRan Inc. 7,097,729 124,707
  International Paper Co. 2,131,476 113,885
  Newmont Mining Corp. 2,754,114 107,603
  Nucor Corp. 1,641,180 100,260
  Eastman Chemical Co. 668,437 70,574
  Celanese Corp. Class A 701,806 70,328
  Avery Dennison Corp. 454,982 48,342
  Mosaic Co. 1,786,523 43,377
  Reliance Steel & Aluminum Co. 355,455 30,477
  CF Industries Holdings Inc. 601,077 22,679
  Westlake Chemical Corp. 200,077 22,238
* Alcoa Corp. 476,679 21,431
      2,038,022
Consumer Goods (8.8%)    
  Procter & Gamble Co. 13,014,846 1,031,817
  PepsiCo Inc. 7,329,490 800,014
  Coca-Cola Co. 9,896,882 429,822
  Altria Group Inc. 4,906,400 305,767
  Mondelez International Inc. Class A 7,293,164 304,344
  General Motors Co. 6,507,626 236,487
  Ford Motor Co. 20,135,192 223,098
  Kimberly-Clark Corp. 1,809,800 199,313
  General Mills Inc. 2,936,511 132,319
  Archer-Daniels-Midland Co. 2,884,235 125,089
  VF Corp. 1,632,734 121,018
  Aptiv plc 1,372,115 116,589
  Tyson Foods Inc. Class A 1,535,645 112,394
  Dr Pepper Snapple Group Inc. 927,908 109,846
  Kellogg Co. 1,428,338 92,856
  Conagra Brands Inc. 2,070,245 76,351
  JM Smucker Co. 557,756 69,167
  Molson Coors Brewing Co. Class B 908,978 68,473
  Genuine Parts Co. 719,943 64,680
  Lear Corp. 345,878 64,364
  Stanley Black & Decker Inc. 396,385 60,726
  PVH Corp. 398,103 60,285
  Whirlpool Corp. 365,504 55,962
  BorgWarner Inc. 1,089,012 54,701
  Bunge Ltd. 727,355 53,781
  Hasbro Inc. 580,016 48,895
* Michael Kors Holdings Ltd. 744,937 46,246
  Clorox Co. 333,408 44,380
  Lamb Weston Holdings Inc. 757,090 44,078

 

 

Campbell Soup Co. 1,011,512 43,809
Lennar Corp. Class A 686,941 40,488
DR Horton Inc. 919,865 40,327
PulteGroup Inc. 1,328,317 39,172
Tapestry Inc. 733,975 38,614
^ Harley-Davidson Inc. 867,810 37,212
Leucadia National Corp. 1,558,644 35,428
^ Hanesbrands Inc. 1,856,369 34,194
Newell Brands Inc. 1,262,699 32,174
Ralph Lauren Corp. Class A 285,530 31,922
Ingredion Inc. 186,148 23,998
Hormel Foods Corp. 682,317 23,417
Goodyear Tire & Rubber Co. 619,288 16,461
^ Mattel Inc. 885,676 11,647
* Pilgrim's Pride Corp. 258,656 6,365
Lennar Corp. Class B 14,996 715
    5,608,805
Consumer Services (7.0%)    
Walmart Inc. 7,648,315 680,471
Time Warner Inc. 3,825,344 361,801
CVS Health Corp. 5,239,517 325,950
Twenty-First Century Fox Inc. Class A 5,477,122 200,956
* eBay Inc. 4,965,357 199,806
Target Corp. 2,805,542 194,789
Delta Air Lines Inc. 3,313,560 181,616
McKesson Corp. 1,064,608 149,971
Las Vegas Sands Corp. 2,039,268 146,623
Sysco Corp. 2,423,675 145,324
Walgreens Boots Alliance Inc. 2,172,615 142,241
American Airlines Group Inc. 2,197,857 114,201
Kroger Co. 4,549,947 108,926
Cardinal Health Inc. 1,624,668 101,834
* United Continental Holdings Inc. 1,335,369 92,768
Best Buy Co. Inc. 1,283,255 89,815
Omnicom Group Inc. 1,189,105 86,412
Twenty-First Century Fox Inc. 2,231,728 81,168
AmerisourceBergen Corp. Class A 851,182 73,380
Carnival Corp. 1,035,383 67,900
* Liberty Interactive Corp. QVC Group Class A 2,350,868 59,171
Nielsen Holdings plc 1,844,000 58,621
Viacom Inc. Class B 1,885,775 58,572
Kohl's Corp. 869,248 56,945
Darden Restaurants Inc. 638,703 54,449
Aramark 1,266,820 50,115
L Brands Inc. 1,236,289 47,239
Macy's Inc. 1,569,314 46,671
Interpublic Group of Cos. Inc. 2,002,167 46,110
Gap Inc. 1,409,042 43,962
CBS Corp. Class B 844,728 43,411
Advance Auto Parts Inc. 362,146 42,932
* DISH Network Corp. Class A 1,116,108 42,289
Hilton Worldwide Holdings Inc. 529,377 41,694
News Corp. Class A 2,599,341 41,070
* Liberty Media Corp-Liberty SiriusXM C 908,527 37,113
Tiffany & Co. 304,166 29,705
Nordstrom Inc. 600,846 29,087
* CarMax Inc. 465,970 28,862

 

 

* Discovery Communications Inc. 1,474,278 28,778
  Alaska Air Group Inc. 316,935 19,637
*,^ Discovery Communications Inc. Class A 817,476 17,519
* Liberty Media Corp-Liberty SiriusXM A 409,516 16,831
*,^ Altice USA Inc. Class A 317,992 5,877
  CBS Corp. Class A 22,111 1,143
  News Corp. Class B 18,801 303
  Viacom Inc. Class A 5,457 216
      4,494,274
Financials (25.3%)    
* Berkshire Hathaway Inc. Class B 10,047,866 2,004,348
  JPMorgan Chase & Co. 17,915,259 1,970,141
  Bank of America Corp. 50,239,208 1,506,674
  Wells Fargo & Co. 22,883,948 1,199,348
  Citigroup Inc. 13,651,964 921,508
  Goldman Sachs Group Inc. 1,752,788 441,457
  US Bancorp 8,102,819 409,192
  Morgan Stanley 7,001,119 377,780
  PNC Financial Services Group Inc. 2,332,780 352,810
  American Express Co. 3,552,771 331,402
  Chubb Ltd. 2,274,339 311,061
  CME Group Inc. 1,756,393 284,079
  American International Group Inc. 4,659,262 253,557
  Bank of New York Mellon Corp. 4,707,569 242,581
  Capital One Financial Corp. 2,511,276 240,630
  Prudential Financial Inc. 2,178,930 225,628
  BB&T Corp. 4,019,097 209,154
  MetLife Inc. 4,311,347 197,848
  Travelers Cos. Inc. 1,401,649 194,633
  Progressive Corp. 3,007,234 183,231
  State Street Corp. 1,803,361 179,849
  Aflac Inc. 4,032,842 176,477
  Allstate Corp. 1,833,382 173,805
  SunTrust Banks Inc. 2,429,823 165,325
  Discover Financial Services 1,830,496 131,668
  Synchrony Financial 3,836,372 128,634
  M&T Bank Corp. 697,689 128,626
  Equity Residential 1,900,454 117,106
  Northern Trust Corp. 1,114,962 114,986
  Fifth Third Bancorp 3,580,783 113,690
  Ameriprise Financial Inc. 763,415 112,940
  Regions Financial Corp. 5,987,170 111,242
  KeyCorp 5,550,758 108,517
  Citizens Financial Group Inc. 2,515,433 105,598
  Willis Towers Watson plc 681,656 103,741
  Hartford Financial Services Group Inc. 1,842,265 94,913
  Principal Financial Group Inc. 1,495,686 91,102
  Huntington Bancshares Inc. 5,684,997 85,843
  Lincoln National Corp. 1,127,163 82,351
  XL Group Ltd. 1,322,908 73,104
  Loews Corp. 1,440,078 71,615
  Host Hotels & Resorts Inc. 3,819,137 71,189
  Invesco Ltd. 2,103,328 67,328
  GGP Inc. 3,214,865 65,776
  Annaly Capital Management Inc. 5,994,083 62,518
  Ally Financial Inc. 2,247,544 61,021
  Cincinnati Financial Corp. 806,482 59,889

 

 

Franklin Resources Inc. 1,710,507 59,320
* Arch Capital Group Ltd. 671,293 57,456
HCP Inc. 2,427,987 56,402
Affiliated Managers Group Inc. 287,417 54,488
Unum Group 1,144,232 54,477
Everest Re Group Ltd. 211,225 54,247
Zions Bancorporation 1,017,889 53,673
FNF Group 1,340,519 53,648
Welltower Inc. 954,301 51,943
Nasdaq Inc. 599,408 51,681
Reinsurance Group of America Inc. Class A 333,367 51,338
Duke Realty Corp. 1,839,817 48,718
Torchmark Corp. 565,089 47,564
Voya Financial Inc. 929,645 46,947
* Liberty Broadband Corp. 545,929 46,781
Alleghany Corp. 75,677 46,499
Western Union Co. 2,367,114 45,520
Ventas Inc. 917,744 45,456
Comerica Inc. 445,248 42,713
Macerich Co. 730,001 40,895
* Athene Holding Ltd. Class A 800,697 38,281
AGNC Investment Corp. 2,016,360 38,150
Lazard Ltd. Class A 668,574 35,140
VEREIT Inc. 5,020,950 34,946
WR Berkley Corp. 469,707 34,148
People's United Financial Inc. 1,799,552 33,580
CIT Group Inc. 642,576 33,093
New York Community Bancorp Inc. 2,391,286 31,158
Raymond James Financial Inc. 337,445 30,171
Kimco Realty Corp. 2,083,714 30,005
* Brighthouse Financial Inc. 493,714 25,377
Jones Lang LaSalle Inc. 116,915 20,418
Camden Property Trust 238,590 20,084
Brixmor Property Group Inc. 785,279 11,975
* Liberty Broadband Corp. Class A 133,094 11,286
* Berkshire Hathaway Inc. Class A 14 4,187
    16,157,680
Health Care (14.0%)    
Johnson & Johnson 13,850,517 1,774,944
Pfizer Inc. 30,731,695 1,090,668
UnitedHealth Group Inc. 4,995,654 1,069,070
Merck & Co. Inc. 14,065,099 766,126
Amgen Inc. 3,451,630 588,434
Abbott Laboratories 9,015,005 540,179
Gilead Sciences Inc. 6,752,709 509,087
Eli Lilly & Co. 5,091,342 393,917
Allergan plc 1,797,732 302,540
Anthem Inc. 1,320,248 290,058
Aetna Inc. 1,688,099 285,289
Cigna Corp. 1,259,745 211,310
* Express Scripts Holding Co. 2,924,657 202,035
Humana Inc. 711,014 191,142
HCA Healthcare Inc. 1,445,143 140,179
Zimmer Biomet Holdings Inc. 1,045,050 113,952
* Mylan NV 2,630,786 108,309
Baxter International Inc. 1,336,531 86,928
Quest Diagnostics Inc. 704,309 70,642

 

 

  Perrigo Co. plc 655,612 54,639
* Hologic Inc. 1,430,242 53,434
* DaVita Inc. 705,172 46,499
  Dentsply Sirona Inc. 591,837 29,775
  Universal Health Services Inc. Class B 214,514 25,401
      8,944,557
Industrials (10.7%)    
  General Electric Co. 44,772,706 603,536
  Honeywell International Inc. 3,882,141 561,008
  United Technologies Corp. 3,923,190 493,616
  Caterpillar Inc. 3,085,810 454,787
  Raytheon Co. 1,489,334 321,428
  Northrop Grumman Corp. 898,745 313,770
  General Dynamics Corp. 1,303,251 287,888
  Deere & Co. 1,669,009 259,230
  CSX Corp. 4,351,869 242,443
  Emerson Electric Co. 3,277,883 223,879
  Lockheed Martin Corp. 626,473 211,704
  Norfolk Southern Corp. 1,466,390 199,106
  Waste Management Inc. 2,237,203 188,193
  Eaton Corp. plc 2,275,470 181,833
  TE Connectivity Ltd. 1,814,038 181,222
  Johnson Controls International plc 4,784,170 168,594
  Danaher Corp. 1,619,456 158,561
  FedEx Corp. 622,756 149,530
  Cummins Inc. 812,291 131,664
  PACCAR Inc. 1,816,719 120,212
  Parker-Hannifin Corp. 686,680 117,443
  Illinois Tool Works Inc. 749,117 117,357
  Ingersoll-Rand plc 1,289,897 110,299
  WestRock Co. 1,317,684 84,556
  L3 Technologies Inc. 404,056 84,044
  Dover Corp. 797,700 78,350
  WW Grainger Inc. 276,435 78,029
  Republic Services Inc. Class A 1,109,490 73,482
  Ball Corp. 1,808,828 71,829
  Textron Inc. 1,217,461 71,794
  Pentair plc 846,400 57,665
  Arconic Inc. 2,232,284 51,432
  Jacobs Engineering Group Inc. 729,977 43,178
  Fluor Corp. 720,912 41,251
  ManpowerGroup Inc. 341,510 39,308
* First Data Corp. Class A 2,364,054 37,825
* United Rentals Inc. 217,512 37,571
  Xerox Corp. 1,246,133 35,864
* Crown Holdings Inc. 691,887 35,113
* Arrow Electronics Inc. 452,003 34,813
  Allison Transmission Holdings Inc. 685,697 26,783
  Owens Corning 287,933 23,150
  Sealed Air Corp. 431,318 18,456
  Flowserve Corp. 335,882 14,554
* Stericycle Inc. 221,771 12,980
  ADT Inc. 579,657 4,597
      6,853,927
Oil & Gas (7.5%)    
  Exxon Mobil Corp. 21,872,463 1,631,904

 

 

  Chevron Corp. 9,860,508 1,124,492
  ConocoPhillips 6,063,528 359,507
  Phillips 66 2,355,082 225,900
  Valero Energy Corp. 2,259,788 209,641
  Marathon Petroleum Corp. 2,522,692 184,434
  Kinder Morgan Inc. 9,675,544 145,714
  ONEOK Inc. 2,103,854 119,751
  Williams Cos. Inc. 4,270,578 106,167
  Halliburton Co. 2,033,217 95,439
  Devon Energy Corp. 2,716,966 86,372
  Hess Corp. 1,546,250 78,271
  Andeavor 754,946 75,917
  Apache Corp. 1,968,577 75,751
  National Oilwell Varco Inc. 1,964,110 72,299
  Marathon Oil Corp. 4,390,510 70,819
  Baker Hughes a GE Co. 2,213,007 61,455
  OGE Energy Corp. 1,029,326 33,731
  HollyFrontier Corp. 456,981 22,328
  Helmerich & Payne Inc. 266,524 17,740
      4,797,632
Other (0.0%)2    
*,3 Safeway Inc. CVR (PDC) Expires 01/30/2019 376 —
 
Technology (14.5%)    
  Microsoft Corp. 39,749,836 3,627,968
  Intel Corp. 24,099,266 1,255,090
  Cisco Systems Inc. 24,871,106 1,066,722
  Oracle Corp. 16,030,514 733,396
  International Business Machines Corp. 4,779,546 733,326
  QUALCOMM Inc. 7,644,155 423,563
  HP Inc. 8,497,054 186,255
  DXC Technology Co. 1,475,885 148,371
  Hewlett Packard Enterprise Co. 8,082,679 141,770
  Western Digital Corp. 1,535,196 141,653
  Corning Inc. 4,425,125 123,372
  Motorola Solutions Inc. 833,055 87,721
  NetApp Inc. 1,383,668 85,358
  Symantec Corp. 3,210,182 82,983
  Seagate Technology plc 1,324,256 77,495
* Dell Technologies Inc. Class V 1,049,418 76,828
* Synopsys Inc. 769,982 64,093
  CA Inc. 1,617,155 54,822
  Juniper Networks Inc. 1,931,967 47,005
  Marvell Technology Group Ltd. 2,043,833 42,920
  Garmin Ltd. 533,330 31,429
*,^ Advanced Micro Devices Inc. 2,361,318 23,731
* Dropbox Inc. Class A 85,613 2,675
      9,258,546
Telecommunications (3.5%)    
  AT&T Inc. 31,711,890 1,130,529
  Verizon Communications Inc. 21,295,785 1,018,365
  CenturyLink Inc. 4,969,709 81,652
*,^ Sprint Corp. 3,094,124 15,099
      2,245,645
Utilities (5.2%)    
  NextEra Energy Inc. 2,430,247 396,932

 

 

  Duke Energy Corp.     3,614,514 280,016
  Southern Co.     5,180,538 231,363
  Dominion Energy Inc.     3,321,644 223,978
  Exelon Corp.     4,982,826 194,380
  American Electric Power Co. Inc.     2,540,393 174,246
  Sempra Energy     1,416,284 157,519
  Public Service Enterprise Group Inc.     2,611,580 131,206
  Consolidated Edison Inc.     1,601,852 124,848
  Xcel Energy Inc.     2,621,015 119,204
  PG&E Corp.     2,658,137 116,772
  Edison International     1,682,086 107,082
  WEC Energy Group Inc.     1,629,433 102,165
  PPL Corp.     3,580,319 101,287
  DTE Energy Co.     926,331 96,709
  Eversource Energy     1,636,379 96,415
  FirstEnergy Corp.     2,456,719 83,553
  American Water Works Co. Inc.     922,422 75,759
  Entergy Corp.     931,477 73,382
  Ameren Corp.     1,254,112 71,020
  CMS Energy Corp.     1,460,194 66,132
  CenterPoint Energy Inc.     2,228,383 61,058
  Alliant Energy Corp.     1,196,996 48,909
  Pinnacle West Capital Corp.     575,946 45,961
  NiSource Inc.     1,739,088 41,582
  AES Corp.     3,403,394 38,697
  SCANA Corp.     734,899 27,595
  Avangrid Inc.     319,090 16,312
          3,304,082
Total Common Stocks (Cost $50,022,993)       63,703,170
 
 
    Coupon      
Temporary Cash Investments (0.2%)1        
Money Market Fund (0.2%)        
4,5 Vanguard Market Liquidity Fund 1.775%   1,025,562 102,556
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
  United States Treasury Bill 1.398% 5/3/18 1,000 999
6 United States Treasury Bill 1.446% 5/31/18 9,850 9,823
6 United States Treasury Bill 1.783% 6/21/18 1,000 996
6 United States Treasury Bill 1.890% 8/9/18 1,000 994
          12,812
Total Temporary Cash Investments (Cost $115,360)       115,368
Total Investments (99.9%) (Cost $50,138,353)       63,818,538
Other Assets and Liabilities-Net (0.1%)5       35,740
Net Assets (100%)       63,854,278

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $31,137,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 100.0% and -0.1%, respectively, of net assets.
2 “Other” represents securities that are not classified by the fund’s benchmark index.

 

3 Security value determined using significant unobservable inputs.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $31,893,000 of collateral received for securities on loan.
6 Securities with a value of $6,229,000 have been segregated as initial margin for open futures contracts.
CVR—Contingent Value Rights.

Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini S&P 500 Index June 2018 1,047 138,361 (7,120)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

 

Value Index Fund

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 63,703,170 — —
Temporary Cash Investments 102,556 12,812 —
Futures Contracts—Assets1 1,853 — —
Total 63,807,579 12,812 —
1 Represents variation margin on the last day of the reporting period.

 

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $50,138,353,000. Net unrealized appreciation of investment securities for tax purposes was $13,680,185,000, consisting of unrealized gains of $15,568,238,000 on securities that had risen in value since their purchase and $1,888,053,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Growth Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.8%)1    
Basic Materials (1.1%)    
  Praxair Inc. 1,981,414 285,918
  Ecolab Inc. 1,799,276 246,627
  International Flavors & Fragrances Inc. 545,958 74,747
  FMC Corp. 930,780 71,270
  Albemarle Corp. 763,808 70,836
* Axalta Coating Systems Ltd. 1,526,014 46,070
  CF Industries Holdings Inc. 806,315 30,422
      825,890
Consumer Goods (8.7%)    
  Philip Morris International Inc. 10,751,741 1,068,723
  NIKE Inc. Class B 8,985,386 596,989
  Coca-Cola Co. 13,269,867 576,310
  Colgate-Palmolive Co. 6,060,308 434,403
  Altria Group Inc. 6,580,977 410,127
  Monsanto Co. 2,899,027 338,287
  Activision Blizzard Inc. 4,973,297 335,499
  Kraft Heinz Co. 4,217,123 262,685
* Electronic Arts Inc. 2,124,007 257,515
  Constellation Brands Inc. Class A 1,126,559 256,765
*,^ Tesla Inc. 934,784 248,774
  Estee Lauder Cos. Inc. Class A 1,553,826 232,639
* Monster Beverage Corp. 2,927,272 167,469
* Mohawk Industries Inc. 437,786 101,663
  Hershey Co. 987,617 97,735
  Brown-Forman Corp. Class B 1,725,587 93,872
  McCormick & Co. Inc. 839,043 89,266
  Church & Dwight Co. Inc. 1,731,549 87,201
  Stanley Black & Decker Inc. 530,029 81,200
* Take-Two Interactive Software Inc. 790,988 77,343
* LKQ Corp. 2,036,044 77,268
* NVR Inc. 24,233 67,852
* Lululemon Athletica Inc. 694,544 61,898
  Clorox Co. 447,794 59,606
  Snap-on Inc. 392,155 57,859
  Coty Inc. Class A 3,110,091 56,915
  DR Horton Inc. 1,233,848 54,092
  Lennar Corp. Class A 894,269 52,708
  Tapestry Inc. 984,564 51,798
* WABCO Holdings Inc. 371,924 49,789
  Polaris Industries Inc. 414,154 47,429
  Newell Brands Inc. 1,693,300 43,145
  Hormel Foods Corp. 914,547 31,387
*,^ Under Armour Inc. Class A 1,283,617 20,987
*,^ Under Armour Inc. 1,305,536 18,734
  Lennar Corp. Class B 47,355 2,258
      6,568,190
Consumer Services (20.3%)    
* Amazon.com Inc. 2,848,311 4,122,474

 

 

  Home Depot Inc. 8,082,627 1,440,647
  Comcast Corp. Class A 32,085,442 1,096,360
  Walt Disney Co. 9,886,845 993,035
  McDonald's Corp. 5,518,412 862,969
* Netflix Inc. 2,853,838 842,881
* Booking Holdings Inc. 337,559 702,254
  Costco Wholesale Corp. 3,039,313 572,698
  Starbucks Corp. 9,242,773 535,064
  Lowe's Cos. Inc. 5,457,253 478,874
* Charter Communications Inc. Class A 1,155,850 359,724
  TJX Cos. Inc. 4,159,088 339,215
  Marriott International Inc. Class A 1,854,987 252,241
  Southwest Airlines Co. 3,662,168 209,769
  Ross Stores Inc. 2,644,761 206,239
  Yum! Brands Inc. 2,301,074 195,890
  Walgreens Boots Alliance Inc. 2,913,433 190,743
  Dollar General Corp. 1,879,423 175,820
* Dollar Tree Inc. 1,641,067 155,737
* O'Reilly Automotive Inc. 583,622 144,376
  Royal Caribbean Cruises Ltd. 1,183,698 139,369
  MGM Resorts International 3,528,632 123,573
* AutoZone Inc. 189,400 122,862
  Wynn Resorts Ltd. 569,541 103,862
  Expedia Group Inc. 866,850 95,709
  Carnival Corp. 1,387,667 91,003
* Ulta Beauty Inc. 401,522 82,019
  Wyndham Worldwide Corp. 656,597 75,134
* Norwegian Cruise Line Holdings Ltd. 1,392,506 73,761
* Chipotle Mexican Grill Inc. Class A 193,057 62,379
  CBS Corp. Class B 1,155,871 59,400
  Hilton Worldwide Holdings Inc. 710,217 55,937
  Tractor Supply Co. 867,952 54,698
  FactSet Research Systems Inc. 269,786 53,801
^ Sirius XM Holdings Inc. 7,800,766 48,677
  Tiffany & Co. 408,009 39,846
* CarMax Inc. 624,752 38,697
  Domino's Pizza Inc. 148,682 34,726
  Alaska Air Group Inc. 424,860 26,324
  Hyatt Hotels Corp. Class A 299,588 22,847
* TripAdvisor Inc. 371,934 15,208
*,^ Altice USA Inc. Class A 426,798 7,887
  CBS Corp. Class A 2,760 143
      15,304,872
Financials (13.2%)    
  Visa Inc. Class A 12,477,719 1,492,585
  Mastercard Inc. Class A 6,461,566 1,131,808
  American Tower Corp. 3,051,542 443,511
  Charles Schwab Corp. 8,389,337 438,091
  BlackRock Inc. 776,980 420,906
  Simon Property Group Inc. 2,217,496 342,271
  S&P Global Inc. 1,757,871 335,859
  Crown Castle International Corp. 2,870,669 314,654
  Intercontinental Exchange Inc. 4,031,792 292,386
  Marsh & McLennan Cos. Inc. 3,514,445 290,258
  Aon plc 1,704,607 239,207
  Prologis Inc. 3,668,358 231,070
  Equinix Inc. 541,369 226,368

 

 

Public Storage 1,022,500 204,899
Weyerhaeuser Co. 5,232,351 183,132
Moody's Corp. 1,124,080 181,314
T. Rowe Price Group Inc. 1,607,091 173,518
AvalonBay Communities Inc. 955,753 157,183
Digital Realty Trust Inc. 1,422,274 149,879
* SBA Communications Corp. Class A 813,689 139,076
Boston Properties Inc. 1,068,341 131,641
* IHS Markit Ltd. 2,646,638 127,674
TD Ameritrade Holding Corp. 1,964,232 116,341
Essex Property Trust Inc. 457,415 110,091
* Markel Corp. 91,432 106,998
First Republic Bank 1,112,389 103,018
* E*TRADE Financial Corp. 1,844,516 102,205
Realty Income Corp. 1,968,658 101,839
* CBRE Group Inc. Class A 2,116,112 99,923
Equifax Inc. 831,790 97,993
MSCI Inc. Class A 624,063 93,279
Cboe Global Markets Inc. 781,083 89,122
* SVB Financial Group 365,943 87,830
Alexandria Real Estate Equities Inc. 699,794 87,397
Arthur J Gallagher & Co. 1,255,104 86,263
Vornado Realty Trust 1,186,677 79,863
SEI Investments Co. 978,390 73,291
Extra Space Storage Inc. 827,466 72,287
Mid-America Apartment Communities Inc. 785,402 71,660
Welltower Inc. 1,283,193 69,844
SL Green Realty Corp. 683,952 66,227
UDR Inc. 1,853,585 66,025
Regency Centers Corp. 1,067,459 62,959
Iron Mountain Inc. 1,873,711 61,570
Ventas Inc. 1,234,474 61,143
Federal Realty Investment Trust 506,069 58,760
Comerica Inc. 597,203 57,290
Invitation Homes Inc. 1,975,445 45,099
* Black Knight Inc. 908,919 42,810
Raymond James Financial Inc. 452,865 40,491
Jones Lang LaSalle Inc. 156,668 27,360
Camden Property Trust 320,790 27,004
    9,913,272
Health Care (11.2%)    
AbbVie Inc. 10,992,469 1,040,437
Medtronic plc 9,381,136 752,555
Bristol-Myers Squibb Co. 11,300,043 714,728
Thermo Fisher Scientific Inc. 2,775,420 573,013
* Celgene Corp. 5,207,009 464,517
* Biogen Inc. 1,464,530 401,018
Becton Dickinson and Co. 1,843,090 399,398
Stryker Corp. 2,074,698 333,860
* Intuitive Surgical Inc. 777,514 320,981
* Vertex Pharmaceuticals Inc. 1,757,948 286,510
Zoetis Inc. 3,359,851 280,581
* Boston Scientific Corp. 9,519,818 260,081
* Illumina Inc. 1,017,879 240,647
* Edwards Lifesciences Corp. 1,453,325 202,768
* Regeneron Pharmaceuticals Inc. 549,049 189,071
* Alexion Pharmaceuticals Inc. 1,457,505 162,454

 

 

* Align Technology Inc. 527,307 132,423
* Centene Corp. 1,141,303 121,971
Baxter International Inc. 1,792,046 116,555
* IDEXX Laboratories Inc. 603,193 115,445
* Laboratory Corp. of America Holdings 704,867 114,012
* IQVIA Holdings Inc. 1,081,606 106,116
* Waters Corp. 523,284 103,950
* Incyte Corp. 1,245,976 103,827
* BioMarin Pharmaceutical Inc. 1,216,247 98,601
ResMed Inc. 990,079 97,493
* Varian Medical Systems Inc. 632,986 77,636
Cooper Cos. Inc. 338,867 77,536
* Alnylam Pharmaceuticals Inc. 621,447 74,014
* Henry Schein Inc. 1,062,408 71,405
* Alkermes plc 1,079,369 62,560
* Jazz Pharmaceuticals plc 393,740 59,451
* Nektar Therapeutics Class A 554,651 58,937
* ABIOMED Inc. 145,490 42,336
Teleflex Inc. 160,104 40,823
Dentsply Sirona Inc. 793,470 39,920
Universal Health Services Inc. Class B 287,795 34,078
* Seattle Genetics Inc. 354,819 18,571
    8,390,279
Industrials (14.2%)    
Boeing Co. 4,073,414 1,335,591
3M Co. 4,121,746 904,806
Union Pacific Corp. 5,393,929 725,106
Accenture plc Class A 4,268,002 655,138
* PayPal Holdings Inc. 7,891,446 598,724
United Parcel Service Inc. Class B 4,765,033 498,708
Automatic Data Processing Inc. 2,915,572 330,859
Lockheed Martin Corp. 840,198 283,928
Sherwin-Williams Co. 582,478 228,401
Fidelity National Information Services Inc. 2,291,364 220,658
Danaher Corp. 2,172,042 212,665
* Fiserv Inc. 2,883,572 205,627
FedEx Corp. 834,114 200,279
Roper Technologies Inc. 709,020 199,015
Amphenol Corp. Class A 2,116,480 182,292
* Worldpay Inc. Class A 2,075,825 170,716
Fortive Corp. 2,166,351 167,936
Illinois Tool Works Inc. 1,004,598 157,380
Rockwell Automation Inc. 884,533 154,086
Rockwell Collins Inc. 1,132,852 152,765
Agilent Technologies Inc. 2,235,515 149,556
Paychex Inc. 2,237,754 137,823
Waste Connections Inc. 1,825,309 130,948
* FleetCor Technologies Inc. 621,707 125,896
Global Payments Inc. 1,102,090 122,905
AMETEK Inc. 1,602,964 121,777
* Verisk Analytics Inc. Class A 1,085,579 112,900
Fastenal Co. 1,991,640 108,724
Vulcan Materials Co. 916,146 104,596
* Mettler-Toledo International Inc. 176,371 101,419
Cintas Corp. 590,175 100,672
TransDigm Group Inc. 325,212 99,821
Total System Services Inc. 1,146,028 98,856

 

 

  Xylem Inc. 1,244,171 95,702
* CoStar Group Inc. 249,963 90,657
  CH Robinson Worldwide Inc. 965,875 90,512
  Martin Marietta Materials Inc. 435,845 90,351
  Masco Corp. 2,173,538 87,898
  Huntington Ingalls Industries Inc. 309,757 79,843
  Kansas City Southern 714,301 78,466
  Expeditors International of Washington Inc. 1,219,242 77,178
  JB Hunt Transport Services Inc. 606,977 71,107
  Alliance Data Systems Corp. 325,500 69,286
* Trimble Inc. 1,740,113 62,435
  Fortune Brands Home & Security Inc. 1,049,134 61,783
* Sensata Technologies Holding plc 1,184,963 61,417
* IPG Photonics Corp. 240,967 56,237
* United Rentals Inc. 291,832 50,408
  Wabtec Corp. 599,174 48,773
  Robert Half International Inc. 816,039 47,240
  Hubbell Inc. Class B 379,196 46,178
  Broadridge Financial Solutions Inc. 403,411 44,250
* XPO Logistics Inc. 414,824 42,233
  Acuity Brands Inc. 292,332 40,690
  Packaging Corp. of America 326,039 36,745
  Owens Corning 387,279 31,137
  Cognex Corp. 570,044 29,637
  Sealed Air Corp. 578,423 24,751
  FLIR Systems Inc. 480,403 24,025
  Macquarie Infrastructure Corp. 278,313 10,278
      10,649,790
Oil & Gas (3.5%)    
  Schlumberger Ltd. 9,578,686 620,507
  EOG Resources Inc. 4,001,466 421,234
  Occidental Petroleum Corp. 5,301,340 344,375
  Anadarko Petroleum Corp. 3,685,124 222,618
  Pioneer Natural Resources Co. 1,178,627 202,465
* Concho Resources Inc. 1,031,882 155,123
  Halliburton Co. 2,726,000 127,958
  Noble Energy Inc. 3,372,715 102,193
  EQT Corp. 1,832,361 87,056
  Cabot Oil & Gas Corp. 3,197,345 76,672
* Cheniere Energy Inc. 1,396,497 74,643
  Cimarex Energy Co. 659,767 61,688
* Diamondback Energy Inc. 339,524 42,957
* Continental Resources Inc. 650,120 38,325
  Targa Resources Corp. 756,484 33,285
* Antero Resources Corp. 1,641,310 32,580
      2,643,679
Technology (27.4%)    
  Apple Inc. 31,609,870 5,303,504
* Facebook Inc. Class A 16,584,546 2,650,045
* Alphabet Inc. Class A 2,066,014 2,142,746
* Alphabet Inc. Class C 2,058,506 2,123,946
  NVIDIA Corp. 3,775,341 874,331
* Adobe Systems Inc. 3,402,430 735,197
  Texas Instruments Inc. 6,808,950 707,382
  Broadcom Ltd. 2,840,976 669,476
* salesforce.com Inc. 4,749,644 552,384

 

 

* Micron Technology Inc.     8,004,566 417,358
  Applied Materials Inc.     7,274,384 404,529
  Cognizant Technology Solutions Corp. Class A     4,070,798 327,699
  Intuit Inc.     1,684,695 292,042
  Analog Devices Inc.     2,580,899 235,197
  Lam Research Corp.     1,127,495 229,062
* ServiceNow Inc.     1,194,956 197,705
* Autodesk Inc.     1,524,165 191,405
* Red Hat Inc.     1,224,921 183,138
  Microchip Technology Inc.     1,622,041 148,190
  Harris Corp.     822,101 132,588
  Xilinx Inc.     1,764,095 127,438
* Cerner Corp.     2,187,483 126,874
* Twitter Inc.     4,370,625 126,792
  Skyworks Solutions Inc.     1,263,349 126,663
* Workday Inc. Class A     948,597 120,576
  KLA-Tencor Corp.     1,084,336 118,203
  Maxim Integrated Products Inc.     1,947,237 117,263
* Palo Alto Networks Inc.     604,579 109,743
* Splunk Inc.     979,685 96,391
* ANSYS Inc.     580,926 91,025
*,^ Square Inc.     1,769,136 87,041
* Arista Networks Inc.     332,716 84,942
* Citrix Systems Inc.     894,064 82,969
* Akamai Technologies Inc.     1,113,733 79,053
* Cadence Design Systems Inc.     1,955,388 71,900
* Gartner Inc.     598,185 70,359
* VeriSign Inc.     570,668 67,658
* F5 Networks Inc.     427,471 61,817
* Qorvo Inc.     874,376 61,600
*,^ VMware Inc. Class A     499,127 60,529
  CDK Global Inc.     930,217 58,920
*,^ Snap Inc.     3,068,009 48,689
  LogMeIn Inc.     362,408 41,876
* IAC/InterActiveCorp     265,692 41,549
*,^ Advanced Micro Devices Inc.     3,169,859 31,857
* Dropbox Inc. Class A     112,784 3,525
          20,633,176
Telecommunications (0.2%)        
* T-Mobile US Inc.     2,070,520 126,385
* Zayo Group Holdings Inc.     1,457,638 49,793
          176,178
Total Common Stocks (Cost $45,259,263)       75,105,326
 
 
    Coupon      
Temporary Cash Investments (0.3%)1        
Money Market Fund (0.3%)        
2,3 Vanguard Market Liquidity Fund 1.775%   2,026,799 202,680
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
  United States Treasury Bill 1.398% 5/3/18 300 300
  United States Treasury Bill 1.602% 5/24/18 200 199

 

 

  United States Treasury Bill 1.446% 5/31/18 2,800 2,792
4 United States Treasury Bill 1.642% 6/7/18 2,000 1,994
4 United States Treasury Bill 1.633%-1.652% 6/14/18 6,300 6,279
          11,564
Total Temporary Cash Investments (Cost $214,233)     214,244
Total Investments (100.1%) (Cost $45,473,496)       75,319,570
Other Assets and Liabilities-Net (-0.1%)3       (81,360)
Net Assets (100%)       75,238,210
* Non-income-producing security.        
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $161,629,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
  giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
  represent 100.0% and 0.1%, respectively, 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.        
3 Includes $167,533,000 of collateral received for securities on loan.      
4 Securities with a value of $7,176,000 have been segregated as initial margin for open futures contracts.
 
Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
        ($000)
          Value and
      Number of   Unrealized
      Long (Short) Notional   Appreciation
    Expiration Contracts Amount   (Depreciation)
Long Futures Contracts        
E-mini S&P 500 Index June 2018 981 129,639 (6,257)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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.

 

Growth Index Fund

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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 75,105,326 — —
Temporary Cash Investments 202,680 11,564 —
Futures Contracts—Assets1 2,536 — —
Total 75,310,542 11,564 —
1 Represents variation margin on the last day of the reporting period.      

 

C. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $45,473,496,000. Net unrealized appreciation of investment securities for tax purposes was $29,846,074,000, consisting of unrealized gains of $30,536,288,000 on securities that had risen in value since their purchase and $690,214,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Large-Cap Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.9%)1    
Basic Materials (2.2%)    
  DowDuPont Inc. 1,882,543 119,937
  Praxair Inc. 231,416 33,393
  Ecolab Inc. 210,181 28,809
  Air Products & Chemicals Inc. 176,979 28,145
  LyondellBasell Industries NV Class A 255,253 26,975
  PPG Industries Inc. 201,986 22,542
* Freeport-McMoRan Inc. 1,112,140 19,540
  International Paper Co. 333,704 17,830
  Newmont Mining Corp. 431,230 16,848
  Nucor Corp. 257,011 15,701
  Eastman Chemical Co. 104,569 11,040
  Celanese Corp. Class A 109,792 11,002
  International Flavors & Fragrances Inc. 63,884 8,746
  FMC Corp. 108,380 8,299
  Albemarle Corp. 89,184 8,271
  Avery Dennison Corp. 71,058 7,550
  CF Industries Holdings Inc. 188,682 7,119
  Mosaic Co. 280,232 6,804
* Axalta Coating Systems Ltd. 178,288 5,383
  Reliance Steel & Aluminum Co. 55,723 4,778
  Westlake Chemical Corp. 31,380 3,488
* Alcoa Corp. 74,747 3,361
      415,561
Consumer Goods (8.8%)    
  Procter & Gamble Co. 2,037,701 161,549
  Coca-Cola Co. 3,099,489 134,611
  PepsiCo Inc. 1,147,703 125,272
  Philip Morris International Inc. 1,255,485 124,795
  Altria Group Inc. 1,536,794 95,773
  NIKE Inc. Class B 1,049,109 69,703
  Colgate-Palmolive Co. 707,494 50,713
  Mondelez International Inc. Class A 1,142,084 47,659
  Monsanto Co. 338,512 39,501
  Activision Blizzard Inc. 580,452 39,157
  General Motors Co. 1,018,668 37,018
  Ford Motor Co. 3,152,970 34,935
  Kimberly-Clark Corp. 283,463 31,218
  Kraft Heinz Co. 492,648 30,687
* Electronic Arts Inc. 247,920 30,058
  Constellation Brands Inc. Class A 131,591 29,992
*,^ Tesla Inc. 109,204 29,063
  Estee Lauder Cos. Inc. Class A 181,508 27,175
  General Mills Inc. 459,699 20,714
  Archer-Daniels-Midland Co. 451,689 19,590
* Monster Beverage Corp. 341,963 19,564
  Stanley Black & Decker Inc. 124,022 19,000
  VF Corp. 255,554 18,942
  Aptiv plc 214,895 18,260

 

 

  Tyson Foods Inc. Class A 240,313 17,589
  Dr Pepper Snapple Group Inc. 145,282 17,199
  Kellogg Co. 223,498 14,530
  Clorox Co. 104,590 13,922
  DR Horton Inc. 288,590 12,652
  Lennar Corp. Class A 210,116 12,384
  Tapestry Inc. 230,300 12,116
  Conagra Brands Inc. 323,835 11,943
* Mohawk Industries Inc. 51,086 11,863
  Hershey Co. 115,375 11,418
  Brown-Forman Corp. Class B 201,332 10,953
  JM Smucker Co. 87,202 10,814
  Molson Coors Brewing Co. Class B 142,105 10,705
  McCormick & Co. Inc 97,883 10,414
  Church & Dwight Co. Inc. 202,192 10,182
  Genuine Parts Co. 112,757 10,130
  Newell Brands Inc. 396,546 10,104
  Lear Corp. 54,114 10,070
  PVH Corp. 62,137 9,409
* Take-Two Interactive Software Inc. 92,437 9,039
* LKQ Corp. 237,721 9,022
  Whirlpool Corp. 57,125 8,746
  BorgWarner Inc. 170,342 8,556
  Bunge Ltd. 113,872 8,420
* NVR Inc. 2,818 7,890
  Hasbro Inc. 90,489 7,628
  Hormel Foods Corp. 214,365 7,357
* Michael Kors Holdings Ltd. 116,694 7,244
* Lululemon Athletica Inc. 81,224 7,239
  Lamb Weston Holdings Inc. 118,293 6,887
  Campbell Soup Co. 157,728 6,831
  Snap-on Inc. 45,943 6,778
  Coty Inc. Class A 363,872 6,659
  PulteGroup Inc. 208,316 6,143
^ Harley-Davidson Inc. 135,892 5,827
* WABCO Holdings Inc. 43,410 5,811
  Leucadia National Corp. 244,495 5,557
  Polaris Industries Inc. 48,438 5,547
^ Hanesbrands Inc. 291,228 5,364
  Ralph Lauren Corp. Class A 44,793 5,008
  Ingredion Inc. 29,171 3,761
  Goodyear Tire & Rubber Co. 97,187 2,583
*,^ Under Armour Inc. Class A 149,195 2,439
*,^ Under Armour Inc. 153,112 2,197
^ Mattel Inc. 139,024 1,828
* Pilgrim's Pride Corp. 39,952 983
  Lennar Corp. Class B 9,882 471
      1,645,161
Consumer Services (13.3%)    
* Amazon.com Inc. 332,610 481,400
  Home Depot Inc. 943,901 168,241
  Comcast Corp. Class A 3,746,533 128,019
  Walt Disney Co. 1,154,646 115,973
  Walmart Inc. 1,197,216 106,516
  McDonald's Corp. 644,363 100,766
* Netflix Inc. 333,221 98,417
* Booking Holdings Inc. 39,412 81,992

 

 

Costco Wholesale Corp. 354,902 66,874
Starbucks Corp. 1,079,327 62,482
Time Warner Inc. 598,835 56,638
Lowe's Cos. Inc. 637,183 55,913
CVS Health Corp. 820,041 51,015
Walgreens Boots Alliance Inc. 680,615 44,560
* Charter Communications Inc. Class A 134,952 42,000
TJX Cos. Inc. 485,533 39,600
Twenty-First Century Fox Inc. Class A 881,894 32,357
* eBay Inc. 777,180 31,274
Target Corp. 439,610 30,522
Marriott International Inc. Class A 216,682 29,464
Delta Air Lines Inc. 518,970 28,445
Southwest Airlines Co. 427,602 24,493
Ross Stores Inc. 308,892 24,087
McKesson Corp. 166,791 23,496
Las Vegas Sands Corp. 319,654 22,983
Yum! Brands Inc. 268,778 22,881
Sysco Corp. 379,926 22,780
Carnival Corp. 323,637 21,224
Dollar General Corp. 219,475 20,532
* Dollar Tree Inc. 191,620 18,185
American Airlines Group Inc. 344,136 17,881
Kroger Co. 712,356 17,054
* O'Reilly Automotive Inc. 68,141 16,857
Royal Caribbean Cruises Ltd. 138,206 16,272
Cardinal Health Inc. 254,487 15,951
* United Continental Holdings Inc. 208,916 14,513
MGM Resorts International 411,965 14,427
* AutoZone Inc. 22,118 14,348
Best Buy Co. Inc. 200,840 14,057
CBS Corp. Class B 266,519 13,696
Omnicom Group Inc. 185,970 13,514
Hilton Worldwide Holdings Inc. 166,078 13,080
Wynn Resorts Ltd. 66,396 12,108
Twenty-First Century Fox Inc. 324,399 11,798
AmerisourceBergen Corp. Class A 133,183 11,482
Expedia Group Inc. 101,127 11,165
* Ulta Beauty Inc. 46,843 9,569
Tiffany & Co. 95,376 9,314
* Liberty Interactive Corp. QVC Group Class A 367,508 9,250
Nielsen Holdings plc 288,287 9,165
* CarMax Inc. 146,189 9,055
Viacom Inc. Class B 291,397 9,051
Kohl's Corp. 135,772 8,894
Wyndham Worldwide Corp. 76,569 8,762
* Norwegian Cruise Line Holdings Ltd. 162,767 8,622
Darden Restaurants Inc. 99,760 8,505
Aramark 198,764 7,863
L Brands Inc. 193,931 7,410
Macy's Inc. 245,674 7,306
* Chipotle Mexican Grill Inc. Class A 22,582 7,296
Interpublic Group of Cos. Inc. 314,368 7,240
Gap Inc. 220,018 6,865
Advance Auto Parts Inc. 56,737 6,726
* DISH Network Corp. Class A 174,727 6,620
Tractor Supply Co. 101,313 6,385

 

 

FactSet Research Systems Inc. 31,588 6,299
Alaska Air Group Inc. 99,459 6,163
News Corp. Class A 381,363 6,026
^ Sirius XM Holdings Inc. 912,201 5,692
* Liberty Media Corp-Liberty SiriusXM C 136,071 5,559
* Discovery Communications Inc. 238,211 4,650
Nordstrom Inc. 94,412 4,571
Domino's Pizza Inc. 17,389 4,061
* Liberty Media Corp-Liberty SiriusXM A 70,011 2,877
Hyatt Hotels Corp. Class A 35,201 2,684
* Discovery Communications Inc. Class A 122,055 2,616
* Altice USA Inc. Class A 99,796 1,844
* TripAdvisor Inc. 43,647 1,785
News Corp. Class B 26,393 425
CBS Corp. Class A 4,796 248
Viacom Inc. Class A 3,542 140
H&R Block Inc. 50 1
    2,490,871
Financials (19.6%)    
* Berkshire Hathaway Inc. Class B 1,566,236 312,433
JPMorgan Chase & Co. 2,804,537 308,415
Bank of America Corp. 7,865,919 235,899
Wells Fargo & Co. 3,582,228 187,745
Visa Inc. Class A 1,457,031 174,290
Citigroup Inc. 2,137,103 144,254
Mastercard Inc. Class A 754,559 132,169
Goldman Sachs Group Inc. 274,389 69,108
US Bancorp 1,268,410 64,055
Morgan Stanley 1,095,929 59,136
PNC Financial Services Group Inc. 365,348 55,255
American Express Co. 556,223 51,884
American Tower Corp. 356,348 51,792
Charles Schwab Corp. 979,451 51,147
BlackRock Inc. 90,717 49,143
Chubb Ltd. 356,141 48,709
CME Group Inc. 275,121 44,498
Simon Property Group Inc. 258,907 39,962
American International Group Inc. 729,416 39,695
S&P Global Inc. 205,208 39,207
Bank of New York Mellon Corp. 737,218 37,989
Capital One Financial Corp. 393,010 37,658
Crown Castle International Corp. 335,157 36,737
Prudential Financial Inc. 341,078 35,319
Intercontinental Exchange Inc. 470,631 34,130
Marsh & McLennan Cos. Inc. 410,261 33,883
BB&T Corp. 629,059 32,736
MetLife Inc. 674,799 30,967
Travelers Cos. Inc. 219,364 30,461
Progressive Corp. 470,709 28,680
State Street Corp. 282,292 28,153
Aon plc 198,963 27,920
Aflac Inc. 631,210 27,622
Allstate Corp. 286,913 27,199
Prologis Inc. 427,986 26,959
Equinix Inc. 63,255 26,449
SunTrust Banks Inc. 380,616 25,897
Public Storage 119,431 23,933

 

 

Weyerhaeuser Co. 611,102 21,389
Moody's Corp. 131,263 21,173
Discover Financial Services 286,678 20,621
T. Rowe Price Group Inc. 187,673 20,263
Synchrony Financial 601,264 20,160
M&T Bank Corp. 109,263 20,144
AvalonBay Communities Inc. 111,590 18,352
Equity Residential 297,529 18,334
Northern Trust Corp. 174,599 18,006
Fifth Third Bancorp 560,736 17,803
Ameriprise Financial Inc. 119,547 17,686
Digital Realty Trust Inc. 166,071 17,501
Regions Financial Corp. 938,343 17,434
KeyCorp 869,741 17,003
Citizens Financial Group Inc. 393,872 16,535
Welltower Inc. 299,322 16,292
Willis Towers Watson plc 106,810 16,255
* SBA Communications Corp. Class A 95,092 16,253
Boston Properties Inc. 124,767 15,374
* IHS Markit Ltd. 308,916 14,902
Hartford Financial Services Group Inc. 288,614 14,869
Principal Financial Group Inc. 234,088 14,258
Ventas Inc. 287,750 14,252
TD Ameritrade Holding Corp. 229,285 13,581
Huntington Bancshares Inc. 890,858 13,452
Comerica Inc. 139,655 13,397
Lincoln National Corp. 176,607 12,903
Essex Property Trust Inc. 53,461 12,867
* Markel Corp. 10,697 12,518
First Republic Bank 129,940 12,034
* E*TRADE Financial Corp. 215,235 11,926
Realty Income Corp. 229,667 11,881
* CBRE Group Inc. Class A 246,975 11,662
XL Group Ltd. 207,188 11,449
Equifax Inc. 97,133 11,443
Loews Corp. 225,855 11,232
Host Hotels & Resorts Inc. 597,471 11,137
MSCI Inc. Class A 72,839 10,887
Invesco Ltd. 328,701 10,522
Cboe Global Markets Inc. 91,090 10,393
GGP Inc. 502,770 10,287
* SVB Financial Group 42,702 10,249
Alexandria Real Estate Equities Inc. 81,796 10,216
Arthur J Gallagher & Co. 146,597 10,076
Annaly Capital Management Inc. 936,594 9,769
Ally Financial Inc. 351,340 9,539
Raymond James Financial Inc. 105,883 9,467
Cincinnati Financial Corp. 125,945 9,353
Vornado Realty Trust 138,265 9,305
Franklin Resources Inc. 267,132 9,264
* Arch Capital Group Ltd. 104,908 8,979
HCP Inc. 379,961 8,827
SEI Investments Co. 114,387 8,569
Affiliated Managers Group Inc. 44,968 8,525
Unum Group 178,798 8,513
Everest Re Group Ltd. 32,997 8,474
Extra Space Storage Inc. 96,812 8,458

 

 

Zions Bancorporation 159,625 8,417
Mid-America Apartment Communities Inc. 91,921 8,387
FNF Group 209,445 8,382
Nasdaq Inc. 93,888 8,095
Reinsurance Group of America Inc. Class A 52,145 8,030
SL Green Realty Corp. 79,890 7,736
UDR Inc. 216,858 7,724
Duke Realty Corp. 288,901 7,650
Torchmark Corp. 88,594 7,457
* Liberty Broadband Corp. 86,647 7,425
Regency Centers Corp. 124,631 7,351
Voya Financial Inc. 145,480 7,347
Alleghany Corp. 11,794 7,247
Iron Mountain Inc. 219,054 7,198
Western Union Co. 371,756 7,149
Federal Realty Investment Trust 59,154 6,868
Macerich Co. 114,228 6,399
Jones Lang LaSalle Inc. 36,611 6,394
Camden Property Trust 74,911 6,306
* Athene Holding Ltd. Class A 125,639 6,007
AGNC Investment Corp. 315,666 5,972
Lazard Ltd. Class A 104,873 5,512
VEREIT Inc. 785,272 5,465
WR Berkley Corp. 73,636 5,353
Invitation Homes Inc. 230,149 5,254
People's United Financial Inc. 279,744 5,220
CIT Group Inc. 100,781 5,190
* Black Knight Inc. 106,184 5,001
New York Community Bancorp Inc. 375,065 4,887
Kimco Realty Corp. 326,522 4,702
* Brighthouse Financial Inc. 77,414 3,979
Brixmor Property Group Inc. 123,180 1,879
* Berkshire Hathaway Inc. Class A 6 1,795
* Liberty Broadband Corp. Class A 19,752 1,675
Assurant Inc. 14 1
Axis Capital Holdings Ltd. 18 1
    3,686,956
Health Care (12.7%)    
Johnson & Johnson 2,168,572 277,902
Pfizer Inc. 4,811,675 170,766
UnitedHealth Group Inc. 782,170 167,384
AbbVie Inc. 1,283,546 121,488
Merck & Co. Inc. 2,202,145 119,951
Amgen Inc. 540,314 92,113
Medtronic plc 1,095,470 87,879
Abbott Laboratories 1,411,573 84,581
Bristol-Myers Squibb Co. 1,319,598 83,465
Gilead Sciences Inc. 1,057,238 79,705
Thermo Fisher Scientific Inc. 324,115 66,917
Eli Lilly & Co. 797,002 61,664
* Celgene Corp. 607,976 54,238
Allergan plc 281,427 47,361
* Biogen Inc. 171,052 46,837
Becton Dickinson and Co. 215,136 46,620
Anthem Inc. 206,708 45,414
Aetna Inc. 264,290 44,665
Stryker Corp. 242,262 38,985

 

 

* Intuitive Surgical Inc. 90,777 37,475
* Vertex Pharmaceuticals Inc. 205,208 33,445
Cigna Corp. 197,210 33,080
Zoetis Inc. 392,216 32,754
* Express Scripts Holding Co. 457,620 31,612
* Boston Scientific Corp. 1,111,350 30,362
Humana Inc. 111,300 29,921
* Illumina Inc. 118,812 28,090
Baxter International Inc. 418,516 27,220
* Edwards Lifesciences Corp. 169,760 23,685
* Regeneron Pharmaceuticals Inc. 64,118 22,080
HCA Healthcare Inc. 226,406 21,961
* Alexion Pharmaceuticals Inc. 170,225 18,973
Zimmer Biomet Holdings Inc. 163,523 17,831
* Mylan NV 411,649 16,948
* Align Technology Inc. 61,565 15,461
* Centene Corp. 133,245 14,240
* IDEXX Laboratories Inc. 70,462 13,486
* Laboratory Corp. of America Holdings 82,231 13,301
* IQVIA Holdings Inc. 126,240 12,385
* Waters Corp. 61,122 12,142
* Incyte Corp. 145,483 12,123
* BioMarin Pharmaceutical Inc. 141,921 11,506
ResMed Inc. 115,541 11,377
Quest Diagnostics Inc. 110,185 11,052
Dentsply Sirona Inc. 185,733 9,344
* Varian Medical Systems Inc. 73,801 9,052
Cooper Cos. Inc. 39,546 9,048
* Alnylam Pharmaceuticals Inc. 72,630 8,650
Perrigo Co. plc 102,558 8,547
* Hologic Inc. 223,527 8,351
* Henry Schein Inc. 124,245 8,350
Universal Health Services Inc. Class B 67,307 7,970
* Alkermes plc 126,192 7,314
* DaVita Inc. 110,424 7,281
* Jazz Pharmaceuticals plc 46,119 6,963
* Nektar Therapeutics Class A 64,772 6,883
* ABIOMED Inc. 16,993 4,945
Teleflex Inc. 18,714 4,772
* Seattle Genetics Inc. 41,481 2,171
    2,380,086
Industrials (12.3%)    
Boeing Co. 475,664 155,961
3M Co. 481,338 105,663
General Electric Co. 7,009,613 94,490
Honeywell International Inc. 607,823 87,836
Union Pacific Corp. 629,917 84,680
United Technologies Corp. 614,130 77,270
Accenture plc Class A 498,447 76,512
Caterpillar Inc. 483,046 71,191
* PayPal Holdings Inc. 921,574 69,920
Lockheed Martin Corp. 196,204 66,303
United Parcel Service Inc. Class B 556,300 58,222
Raytheon Co. 233,196 50,328
Danaher Corp. 507,472 49,687
Northrop Grumman Corp. 140,716 49,127
FedEx Corp. 194,863 46,789

 

 

General Dynamics Corp. 204,003 45,064
Deere & Co. 261,274 40,581
Automatic Data Processing Inc. 340,344 38,622
CSX Corp. 681,292 37,955
Illinois Tool Works Inc. 234,645 36,759
Emerson Electric Co. 513,147 35,048
Norfolk Southern Corp. 229,559 31,169
Waste Management Inc. 350,525 29,486
Eaton Corp. plc 356,204 28,464
TE Connectivity Ltd. 283,910 28,363
Sherwin-Williams Co. 68,045 26,682
Johnson Controls International plc 748,527 26,378
Fidelity National Information Services Inc. 267,687 25,778
* Fiserv Inc. 336,876 24,023
Roper Technologies Inc. 82,727 23,221
Amphenol Corp. Class A 246,824 21,259
Cummins Inc. 127,172 20,613
* Worldpay Inc. Class A 242,301 19,927
Fortive Corp. 253,001 19,613
PACCAR Inc. 284,621 18,833
Parker-Hannifin Corp. 107,493 18,385
Rockwell Automation Inc. 103,294 17,994
Rockwell Collins Inc. 132,332 17,845
Agilent Technologies Inc. 261,030 17,463
Ingersoll-Rand plc 202,128 17,284
Paychex Inc. 261,467 16,104
Waste Connections Inc. 213,018 15,282
* FleetCor Technologies Inc. 72,592 14,700
Global Payments Inc. 128,606 14,342
AMETEK Inc. 186,995 14,206
WestRock Co. 206,196 13,232
* Verisk Analytics Inc. Class A 126,701 13,177
L3 Technologies Inc. 63,242 13,154
Fastenal Co. 232,216 12,677
Dover Corp. 124,805 12,258
WW Grainger Inc. 43,253 12,209
Vulcan Materials Co. 106,798 12,193
* Mettler-Toledo International Inc. 20,581 11,835
* United Rentals Inc. 68,300 11,797
Cintas Corp. 68,850 11,744
TransDigm Group Inc. 37,970 11,654
Total System Services Inc. 133,804 11,542
Republic Services Inc. Class A 174,000 11,524
Ball Corp. 282,969 11,237
Textron Inc. 190,421 11,229
Xylem Inc. 144,970 11,151
* CoStar Group Inc. 29,207 10,593
CH Robinson Worldwide Inc. 112,857 10,576
Martin Marietta Materials Inc. 50,841 10,539
Masco Corp. 253,198 10,239
Huntington Ingalls Industries Inc. 36,189 9,328
Kansas City Southern 83,295 9,150
Expeditors International of Washington Inc. 142,530 9,022
Pentair plc 132,082 8,999
JB Hunt Transport Services Inc. 70,916 8,308
Alliance Data Systems Corp. 37,902 8,068
Arconic Inc. 350,160 8,068

 

 

* Trimble Inc. 203,165 7,290
  Owens Corning 90,539 7,279
  Fortune Brands Home & Security Inc. 122,639 7,222
* Sensata Technologies Holding plc 139,040 7,206
  Jacobs Engineering Group Inc. 114,502 6,773
* IPG Photonics Corp. 28,174 6,575
  Fluor Corp. 113,072 6,470
  ManpowerGroup Inc. 53,665 6,177
* First Data Corp. Class A 370,810 5,933
  Sealed Air Corp. 135,270 5,788
  Wabtec Corp. 69,966 5,695
  Xerox Corp. 195,367 5,623
  Robert Half International Inc. 95,398 5,523
* Crown Holdings Inc. 108,467 5,505
* Arrow Electronics Inc. 70,782 5,452
  Hubbell Inc. Class B 44,201 5,383
  Broadridge Financial Solutions Inc. 47,123 5,169
* XPO Logistics Inc. 48,435 4,931
  Acuity Brands Inc. 33,992 4,731
  Packaging Corp. of America 38,230 4,308
  Allison Transmission Holdings Inc. 107,546 4,201
  Cognex Corp. 66,619 3,464
  FLIR Systems Inc. 56,139 2,807
  Flowserve Corp. 52,925 2,293
* Stericycle Inc. 34,520 2,020
  Macquarie Infrastructure Corp. 32,575 1,203
^ ADT Inc. 90,782 720
      2,316,666
Oil & Gas (5.6%)    
  Exxon Mobil Corp. 3,424,868 255,529
  Chevron Corp. 1,544,059 176,085
  Schlumberger Ltd. 1,118,615 72,464
  ConocoPhillips 949,403 56,290
  EOG Resources Inc. 467,368 49,200
  Occidental Petroleum Corp. 618,336 40,167
  Phillips 66 368,639 35,360
  Valero Energy Corp. 353,642 32,807
  Halliburton Co. 636,451 29,875
  Marathon Petroleum Corp. 394,778 28,862
  Anadarko Petroleum Corp. 430,407 26,001
  Pioneer Natural Resources Co. 137,730 23,659
  Kinder Morgan Inc. 1,515,712 22,827
  ONEOK Inc. 329,473 18,754
* Concho Resources Inc. 120,483 18,112
  Williams Cos. Inc. 668,819 16,627
  Devon Energy Corp. 425,218 13,518
  Hess Corp. 241,905 12,245
  Noble Energy Inc. 393,129 11,912
  Andeavor 118,072 11,873
  Apache Corp. 308,308 11,864
  National Oilwell Varco Inc. 306,883 11,296
  Marathon Oil Corp. 687,287 11,086
  EQT Corp. 213,773 10,156
  Baker Hughes a GE Co. 346,660 9,627
  Cabot Oil & Gas Corp. 373,746 8,962
* Cheniere Energy Inc. 163,348 8,731
  Cimarex Energy Co. 77,134 7,212

 

 

  OGE Energy Corp. 161,495 5,292
* Diamondback Energy Inc. 39,639 5,015
* Continental Resources Inc. 75,807 4,469
  Targa Resources Corp. 88,435 3,891
* Antero Resources Corp. 191,872 3,809
  HollyFrontier Corp. 71,625 3,500
  Helmerich & Payne Inc. 41,793 2,782
      1,059,859
Technology (20.6%)    
  Apple Inc. 3,691,223 619,313
  Microsoft Corp. 6,223,730 568,040
* Facebook Inc. Class A 1,936,614 309,452
* Alphabet Inc. Class A 240,612 249,548
* Alphabet Inc. Class C 241,016 248,678
  Intel Corp. 3,773,156 196,506
  Cisco Systems Inc. 3,893,950 167,011
  Oracle Corp. 2,509,536 114,811
  International Business Machines Corp. 748,292 114,810
  NVIDIA Corp. 440,844 102,095
* Adobe Systems Inc. 397,334 85,856
  Texas Instruments Inc. 795,209 82,614
  Broadcom Ltd. 331,804 78,190
  QUALCOMM Inc. 1,196,573 66,302
* salesforce.com Inc. 554,629 64,503
* Micron Technology Inc. 934,618 48,731
  Applied Materials Inc. 849,270 47,228
  Cognizant Technology Solutions Corp. Class A 475,268 38,259
  Intuit Inc. 196,664 34,092
  HP Inc. 1,329,838 29,150
  Analog Devices Inc. 301,247 27,453
  Lam Research Corp. 131,707 26,758
  DXC Technology Co. 230,983 23,221
* ServiceNow Inc. 139,548 23,088
* Autodesk Inc. 178,040 22,358
  Hewlett Packard Enterprise Co. 1,266,265 22,210
  Western Digital Corp. 240,518 22,193
* Red Hat Inc. 143,153 21,403
  Corning Inc. 693,118 19,324
  Microchip Technology Inc. 189,588 17,321
  Harris Corp. 95,979 15,479
  Xilinx Inc. 205,968 14,879
* Cerner Corp. 255,647 14,827
* Twitter Inc. 509,927 14,793
  Skyworks Solutions Inc. 147,505 14,789
* Workday Inc. Class A 110,787 14,082
  KLA-Tencor Corp. 126,511 13,791
  Motorola Solutions Inc. 130,358 13,727
  Maxim Integrated Products Inc. 227,062 13,674
  NetApp Inc. 216,556 13,359
  Symantec Corp. 502,416 12,987
* Palo Alto Networks Inc. 70,622 12,819
  Seagate Technology plc 207,210 12,126
* Dell Technologies Inc. Class V 164,194 12,021
* Splunk Inc. 114,326 11,249
* ANSYS Inc. 67,789 10,622
*,^ Square Inc. 206,705 10,170
* Synopsys Inc. 120,390 10,021

 

 

* Arista Networks Inc. 38,804 9,907
* Citrix Systems Inc. 104,547 9,702
* Akamai Technologies Inc. 130,069 9,232
  CA Inc. 252,767 8,569
* Cadence Design Systems Inc. 228,759 8,411
* Gartner Inc. 69,672 8,195
* VeriSign Inc. 66,737 7,912
*,^ Advanced Micro Devices Inc. 741,953 7,457
  Juniper Networks Inc. 303,710 7,389
* F5 Networks Inc. 49,973 7,227
* Qorvo Inc. 102,256 7,204
*,^ VMware Inc. Class A 58,349 7,076
  CDK Global Inc. 108,773 6,890
  Marvell Technology Group Ltd. 320,604 6,733
*,^ Snap Inc. 358,713 5,693
  Garmin Ltd. 83,645 4,929
  LogMeIn Inc. 42,383 4,897
* IAC/InterActiveCorp 31,025 4,852
* Dropbox Inc. Class A 28,189 881
* Premier Inc. Class A 14 —
      3,859,089
Telecommunications (2.0%)    
  AT&T Inc. 4,964,136 176,971
  Verizon Communications Inc. 3,334,189 159,441
* T-Mobile US Inc. 241,674 14,752
  CenturyLink Inc. 777,523 12,775
* Zayo Group Holdings Inc. 170,388 5,821
* Sprint Corp. 487,592 2,379
      372,139
Utilities (2.8%)    
  NextEra Energy Inc. 380,601 62,164
  Duke Energy Corp. 565,794 43,832
  Southern Co. 811,216 36,229
  Dominion Energy Inc. 520,191 35,076
  Exelon Corp. 780,006 30,428
  American Electric Power Co. Inc. 397,704 27,278
  Sempra Energy 221,870 24,676
  Public Service Enterprise Group Inc. 409,298 20,563
  Consolidated Edison Inc. 250,962 19,560
  Xcel Energy Inc. 410,502 18,670
  PG&E Corp. 416,528 18,298
  Edison International 263,452 16,771
  WEC Energy Group Inc. 255,143 15,997
  PPL Corp. 560,450 15,855
  DTE Energy Co. 144,835 15,121
  Eversource Energy 256,080 15,088
  FirstEnergy Corp. 384,355 13,072
  American Water Works Co. Inc. 144,293 11,851
  Entergy Corp. 145,693 11,478
  Ameren Corp. 195,846 11,091
  CMS Energy Corp. 227,926 10,323
  CenterPoint Energy Inc. 348,141 9,539
  Alliant Energy Corp. 186,833 7,634
  Pinnacle West Capital Corp. 90,348 7,210
  NiSource Inc. 273,137 6,531
  AES Corp. 533,447 6,065

 

 

  SCANA Corp.     115,277 4,329
  Avangrid Inc.     50,046 2,558
          517,287
Total Common Stocks (Cost $12,288,543)       18,743,675
    Coupon   Shares  
Temporary Cash Investments (0.2%)1        
Money Market Fund (0.2%)        
2,3 Vanguard Market Liquidity Fund 1.775%   345,242 34,524
 
        Face  
      Maturity Amount  
    Coupon Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
  United States Treasury Bill 1.462% 5/17/18 150 150
  United States Treasury Bill 1.602% 5/24/18 200 200
  United States Treasury Bill 1.446% 5/31/18 1,100 1,097
  United States Treasury Bill 1.633% 6/14/18 600 598
  United States Treasury Bill 1.519% 6/21/18 160 159
4 United States Treasury Bill 1.518%-1.541% 6/28/18 520 518
4 United States Treasury Bill 1.693% 7/12/18 1,000 995
          3,717
Total Temporary Cash Investments (Cost $38,239)     38,241
Total Investments (100.1%) (Cost $12,326,782)       18,781,916
Other Assets and Liabilities-Net (-0.1%) 3       (15,878)
Net Assets (100%)       18,766,038

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $29,363,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 100.0% and 0.1%, respectively, 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.
3 Includes $30,400,000 of collateral received for securities on loan.
4 Securities with a value of $1,264,000 have been segregated as initial margin for open futures contracts.

 

Derivative Financial Instruments Outstanding as of Period End        
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short)   Appreciation
  Expiration Contracts Notional Amount (Depreciation)
Long Futures Contracts        
E-mini S&P 500 Index June 2018 171 22,598 (943)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

 

Vanguard Large-Cap 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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 18,743,675 — —
Temporary Cash Investments 34,524 3,717 —
Futures Contracts—Assets1 434 — —
Total 18,778,633 3,717 —
1 Represents variation margin on the last day of the reporting period.

 

C. 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.

 

Vanguard Large-Cap Index Fund

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $12,326,782,000. Net unrealized appreciation of investment securities for tax purposes was $6,455,134,000, consisting of unrealized gains of $6,789,989,000 on securities that had risen in value since their purchase and $334,855,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Mid-Cap Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.6%)1    
Basic Materials (3.8%)    
* Freeport-McMoRan Inc. 32,988,938 579,616
  Newmont Mining Corp. 12,795,957 499,938
  Eastman Chemical Co. 3,102,317 327,543
  Celanese Corp. Class A 3,257,402 326,424
  International Flavors & Fragrances Inc. 1,893,437 259,230
  FMC Corp. 3,218,817 246,465
  Albemarle Corp. 2,649,048 245,673
  Avery Dennison Corp. 2,107,995 223,974
  CF Industries Holdings Inc. 5,593,009 211,024
  Mosaic Co. 8,311,974 201,815
* Axalta Coating Systems Ltd. 5,287,978 159,644
  Reliance Steel & Aluminum Co. 1,653,758 141,793
  Westlake Chemical Corp. 930,818 103,460
* Alcoa Corp. 2,217,853 99,715
      3,626,314
Consumer Goods (11.0%)    
  Dr Pepper Snapple Group Inc. 4,310,416 510,267
  Clorox Co. 3,106,304 413,480
  DR Horton Inc. 8,577,030 376,017
  Lennar Corp. Class A 6,299,632 371,300
  Tapestry Inc. 6,832,995 359,484
  Conagra Brands Inc. 9,612,467 354,508
* Mohawk Industries Inc. 1,515,714 351,979
  JM Smucker Co. 2,588,744 321,030
  Molson Coors Brewing Co. Class B 4,216,745 317,648
  McCormick & Co. Inc. 2,903,218 308,873
  Church & Dwight Co. Inc. 5,991,764 301,745
  Genuine Parts Co. 3,338,483 299,929
  Newell Brands Inc. 11,749,521 299,378
  Lear Corp. 1,604,354 298,554
  PVH Corp. 1,845,051 279,396
  Aptiv plc 3,186,643 270,769
* Take-Two Interactive Software Inc. 2,742,307 268,143
* LKQ Corp. 7,040,557 267,189
  Tyson Foods Inc. Class A 3,566,196 261,010
  Whirlpool Corp. 1,694,679 259,472
  BorgWarner Inc. 5,047,759 253,549
  Bunge Ltd. 3,371,379 249,280
* NVR Inc. 83,880 234,864
  Hasbro Inc. 2,687,495 226,556
  Hormel Foods Corp. 6,348,224 217,871
* Michael Kors Holdings Ltd. 3,466,061 215,173
* Lululemon Athletica Inc. 2,408,871 214,679
  Lamb Weston Holdings Inc. 3,505,603 204,096
  Campbell Soup Co. 4,683,909 202,860
  Snap-on Inc. 1,359,835 200,630
  Coty Inc. Class A 10,786,474 197,393
  PulteGroup Inc. 6,179,440 182,232

 

 

  Harley-Davidson Inc. 4,037,548 173,130
* WABCO Holdings Inc. 1,288,405 172,479
  Leucadia National Corp. 7,260,418 165,029
  Polaris Industries Inc. 1,436,176 164,471
  Hanesbrands Inc. 8,636,532 159,085
  Ralph Lauren Corp. Class A 1,328,364 148,511
  Ingredion Inc. 865,902 111,632
  Goodyear Tire & Rubber Co. 2,880,867 76,574
*,^ Under Armour Inc. Class A 4,438,243 72,565
*,^ Under Armour Inc. 4,526,430 64,954
^ Mattel Inc. 4,121,246 54,194
* Pilgrim's Pride Corp. 1,192,749 29,354
  Lennar Corp. Class B 212,981 10,157
      10,491,489
Consumer Services (9.8%)    
* Dollar Tree Inc. 5,686,808 539,678
  Royal Caribbean Cruises Ltd. 4,101,155 482,870
  MGM Resorts International 12,222,812 428,043
  Best Buy Co. Inc. 5,960,649 417,186
  Wynn Resorts Ltd. 1,971,304 359,487
  Ross Stores Inc. 4,585,477 357,576
  Expedia Group Inc. 2,999,902 331,219
* Ulta Beauty Inc. 1,389,145 283,761
  Tiffany & Co. 2,832,730 276,644
* Liberty Interactive Corp. QVC Group Class A 10,901,050 274,379
  Nielsen Holdings plc 8,550,300 271,814
* CarMax Inc. 4,337,914 268,690
  Kohl's Corp. 4,027,815 263,862
  Viacom Inc. Class B 8,457,834 262,700
  Wyndham Worldwide Corp. 2,271,269 259,901
* Norwegian Cruise Line Holdings Ltd. 4,829,407 255,814
  Darden Restaurants Inc. 2,961,637 252,480
  Aramark 5,893,693 233,155
  L Brands Inc. 5,752,043 219,786
  Macy's Inc. 7,306,637 217,299
* Chipotle Mexican Grill Inc. Class A 669,607 216,357
* United Continental Holdings Inc. 3,099,906 215,350
  Interpublic Group of Cos. Inc. 9,316,676 214,563
* AutoZone Inc. 327,884 212,695
  Gap Inc. 6,525,705 203,602
  Advance Auto Parts Inc. 1,684,900 199,745
  Tractor Supply Co. 3,010,328 189,711
  FactSet Research Systems Inc. 935,570 186,571
  News Corp. Class A 11,722,936 185,222
  Alaska Air Group Inc. 2,948,732 182,703
  AmerisourceBergen Corp. Class A 1,974,894 170,256
* Liberty Media Corp-Liberty SiriusXM C 4,090,565 167,100
* Discovery Communications Inc. 6,939,178 135,453
  Nordstrom Inc. 2,795,633 135,337
  Domino's Pizza Inc. 515,664 120,439
* Liberty Media Corp-Liberty SiriusXM A 2,022,197 83,112
*,^ Discovery Communications Inc. Class A 3,731,707 79,970
  Hyatt Hotels Corp. Class A 1,037,919 79,152
* Altice USA Inc. Class A 2,960,325 54,707
* TripAdvisor Inc. 1,285,700 52,572
^ Viacom Inc. Class A 239,246 9,474
  News Corp. Class B 356,118 5,734

 

 

H&R Block Inc. 563 14
    9,356,183
Financials (22.7%)    
Moody's Corp. 3,898,364 628,806
M&T Bank Corp. 3,241,566 597,615
Digital Realty Trust Inc. 4,928,078 519,321
Regions Financial Corp. 27,821,525 516,924
KeyCorp 25,791,928 504,232
Citizens Financial Group Inc. 11,687,562 490,644
Willis Towers Watson plc 3,168,617 482,232
* SBA Communications Corp. Class A 2,817,997 481,652
* IHS Markit Ltd. 9,174,028 442,555
Hartford Financial Services Group Inc. 8,558,061 440,911
Principal Financial Group Inc. 6,947,516 423,173
Huntington Bancshares Inc. 26,441,464 399,266
Comerica Inc. 4,144,925 397,623
Lincoln National Corp. 5,234,651 382,444
Essex Property Trust Inc. 1,584,007 381,239
* Markel Corp. 316,541 370,432
First Republic Bank 3,851,031 356,644
* E*TRADE Financial Corp. 6,395,475 354,373
Realty Income Corp. 6,813,800 352,478
* CBRE Group Inc. Class A 7,324,530 345,864
XL Group Ltd. 6,138,207 339,197
Equifax Inc. 2,878,817 339,153
Host Hotels & Resorts Inc. 17,730,515 330,497
MSCI Inc. Class A 2,160,082 322,867
Invesco Ltd. 9,759,331 312,396
Cboe Global Markets Inc. 2,702,010 308,299
* SVB Financial Group 1,267,204 304,142
Alexandria Real Estate Equities Inc. 2,427,089 303,119
Arthur J Gallagher & Co. 4,343,347 298,518
Annaly Capital Management Inc. 27,848,847 290,463
Ally Financial Inc. 10,423,432 282,996
Raymond James Financial Inc. 3,136,438 280,429
Cincinnati Financial Corp. 3,736,875 277,500
Vornado Realty Trust 4,098,149 275,805
AvalonBay Communities Inc. 1,655,272 272,226
* Arch Capital Group Ltd. 3,112,321 266,384
HCP Inc. 11,264,514 261,675
SEI Investments Co. 3,393,602 254,215
Affiliated Managers Group Inc. 1,332,531 252,621
Unum Group 5,304,560 252,550
Everest Re Group Ltd. 979,016 251,431
Extra Space Storage Inc. 2,869,885 250,713
Zions Bancorporation 4,735,691 249,713
FNF Group 6,213,930 248,682
Mid-America Apartment Communities Inc. 2,724,142 248,551
Nasdaq Inc. 2,789,622 240,521
Reinsurance Group of America Inc. Class A 1,545,196 237,960
SL Green Realty Corp. 2,370,558 229,541
UDR Inc. 6,429,023 229,002
Duke Realty Corp. 8,571,941 226,985
Torchmark Corp. 2,629,368 221,314
* Liberty Broadband Corp. 2,561,930 219,532
Regency Centers Corp. 3,697,534 218,081
Voya Financial Inc. 4,309,281 217,619

 

 

Alleghany Corp. 350,551 215,393
Iron Mountain Inc. 6,498,133 213,529
Western Union Co. 11,011,566 211,752
Federal Realty Investment Trust 1,754,746 203,744
Jones Lang LaSalle Inc. 1,087,802 189,974
Macerich Co. 3,380,226 189,360
Camden Property Trust 2,222,946 187,128
* Athene Holding Ltd. Class A 3,800,430 181,699
AGNC Investment Corp. 9,381,148 177,491
Loews Corp. 3,349,675 166,579
Lazard Ltd. Class A 3,111,053 163,517
VEREIT Inc. 23,356,053 162,558
WR Berkley Corp. 2,184,992 158,849
Invitation Homes Inc. 6,836,571 156,079
People's United Financial Inc. 8,323,478 155,316
CIT Group Inc. 2,989,573 153,963
* Black Knight Inc. 3,182,987 149,919
New York Community Bancorp Inc. 11,125,745 144,968
Kimco Realty Corp. 9,694,353 139,599
* Brighthouse Financial Inc. 2,297,174 118,075
Brixmor Property Group Inc. 3,653,375 55,714
* Liberty Broadband Corp. Class A 597,741 50,688
Assurant Inc. 145 13
Axis Capital Holdings Ltd. 226 13
    21,529,045
Health Care (8.1%)    
* Edwards Lifesciences Corp. 5,039,255 703,077
* Align Technology Inc. 1,827,894 459,039
* Centene Corp. 3,956,201 422,799
* IDEXX Laboratories Inc. 2,091,359 400,265
* Laboratory Corp. of America Holdings 2,444,379 395,378
* IQVIA Holdings Inc. 3,744,504 367,373
* Waters Corp. 1,813,953 360,342
* Incyte Corp. 4,313,313 359,428
* BioMarin Pharmaceutical Inc. 4,210,385 341,336
ResMed Inc. 3,426,340 337,392
Quest Diagnostics Inc. 3,267,694 327,750
Dentsply Sirona Inc. 5,506,487 277,031
Cooper Cos. Inc. 1,175,257 268,911
* Varian Medical Systems Inc. 2,188,870 268,465
* Alnylam Pharmaceuticals Inc. 2,154,589 256,611
Perrigo Co. plc 3,038,918 253,263
* Hologic Inc. 6,629,602 247,682
* Henry Schein Inc. 3,684,730 247,651
Universal Health Services Inc. Class B 1,995,884 236,333
* Alkermes plc 3,743,438 216,970
* DaVita Inc. 3,280,804 216,336
* Jazz Pharmaceuticals plc 1,365,422 206,165
* Nektar Therapeutics Class A 1,922,138 204,246
* ABIOMED Inc. 504,116 146,693
Teleflex Inc. 555,035 141,523
* Seattle Genetics Inc. 1,230,718 64,416
    7,726,475
Industrials (18.3%)    
* Fiserv Inc. 10,039,308 715,903
Roper Technologies Inc. 2,455,837 689,329

 

 

Amphenol Corp. Class A 7,329,614 631,300
* Worldpay Inc. Class A 7,188,360 591,171
Rockwell Collins Inc. 3,925,231 529,317
Waste Connections Inc. 6,314,223 452,982
* FleetCor Technologies Inc. 2,153,005 435,983
Global Payments Inc. 3,812,925 425,217
AMETEK Inc. 5,552,491 421,823
WestRock Co. 6,116,540 392,498
* Verisk Analytics Inc. Class A 3,763,267 391,380
L3 Technologies Inc. 1,877,115 390,440
Fastenal Co. 6,898,565 376,593
Dover Corp. 3,704,421 363,848
Vulcan Materials Co. 3,173,324 362,298
WW Grainger Inc. 1,283,438 362,276
* Mettler-Toledo International Inc. 611,509 351,636
* United Rentals Inc. 2,024,505 349,693
Cintas Corp. 2,042,406 348,394
TransDigm Group Inc. 1,126,493 345,766
Total System Services Inc. 3,961,850 341,749
Ball Corp. 8,392,301 333,258
Textron Inc. 5,648,295 333,080
Xylem Inc. 4,306,241 331,236
* CoStar Group Inc. 866,468 314,251
CH Robinson Worldwide Inc. 3,342,139 313,192
Martin Marietta Materials Inc. 1,509,015 312,819
Masco Corp. 7,514,993 303,906
Huntington Ingalls Industries Inc. 1,073,595 276,730
Kansas City Southern 2,470,645 271,400
Expeditors International of Washington Inc. 4,234,154 268,022
Pentair plc 3,922,247 267,223
JB Hunt Transport Services Inc. 2,104,991 246,600
Alliance Data Systems Corp. 1,125,876 239,654
Arconic Inc. 10,385,755 239,288
* Trimble Inc. 6,035,859 216,567
Owens Corning 2,678,992 215,391
Fortune Brands Home & Security Inc. 3,639,153 214,310
* Sensata Technologies Holding plc 4,109,469 212,994
Jacobs Engineering Group Inc. 3,396,395 200,897
* IPG Photonics Corp. 835,624 195,018
Fluor Corp. 3,354,209 191,928
ManpowerGroup Inc. 1,588,765 182,867
* First Data Corp. Class A 10,999,576 175,993
Sealed Air Corp. 4,012,703 171,703
Wabtec Corp. 2,071,356 168,608
Xerox Corp. 5,799,104 166,898
Robert Half International Inc. 2,830,159 163,838
* Crown Holdings Inc. 3,219,060 163,367
* Arrow Electronics Inc. 2,102,804 161,958
Hubbell Inc. Class B 1,314,345 160,061
Broadridge Financial Solutions Inc. 1,398,153 153,363
* XPO Logistics Inc. 1,437,324 146,334
Acuity Brands Inc. 1,010,710 140,681
Packaging Corp. of America 1,130,976 127,461
Allison Transmission Holdings Inc. 3,190,087 124,605
Cognex Corp. 1,976,351 102,750
FLIR Systems Inc. 1,661,135 83,073
Flowserve Corp. 1,562,181 67,689

 

 

* Stericycle Inc. 1,023,626 59,913
  Macquarie Infrastructure Corp. 966,117 35,679
^ ADT Inc. 2,693,419 21,359
      17,345,560
Oil & Gas (5.9%)    
  ONEOK Inc. 9,784,152 556,914
* Concho Resources Inc. 3,579,461 538,100
  Devon Energy Corp. 12,634,279 401,644
  Hess Corp. 7,175,578 363,228
  Noble Energy Inc. 11,673,218 353,698
  Andeavor 3,502,112 352,172
  National Oilwell Varco Inc. 9,113,757 335,477
  Marathon Oil Corp. 20,370,208 328,571
  EQT Corp. 6,340,945 301,258
  Baker Hughes a GE Co. 10,265,255 285,066
  Cabot Oil & Gas Corp. 11,088,415 265,900
* Cheniere Energy Inc. 4,843,043 258,861
  Cimarex Energy Co. 2,288,093 213,937
  Apache Corp. 4,566,135 175,705
  OGE Energy Corp. 4,787,907 156,900
* Diamondback Energy Inc. 1,176,502 148,851
* Continental Resources Inc. 2,248,935 132,575
  Targa Resources Corp. 2,623,226 115,422
* Antero Resources Corp. 5,691,380 112,974
  HollyFrontier Corp. 2,126,111 103,882
  Helmerich & Payne Inc. 1,239,762 82,519
      5,583,654
Technology (14.8%)    
* ServiceNow Inc. 4,144,175 685,654
* Autodesk Inc. 5,285,887 663,802
  Western Digital Corp. 7,136,106 658,448
* Red Hat Inc. 4,246,876 634,950
  Microchip Technology Inc. 5,619,952 513,439
  Harris Corp. 2,847,744 459,284
  Xilinx Inc. 6,111,386 441,486
* Cerner Corp. 7,583,656 439,852
* Twitter Inc. 15,141,938 439,268
  Skyworks Solutions Inc. 4,376,866 438,825
* Workday Inc. Class A 3,284,381 417,478
  KLA-Tencor Corp. 3,756,069 409,449
  Motorola Solutions Inc. 3,871,838 407,704
  Maxim Integrated Products Inc. 6,741,921 405,998
  Lam Research Corp. 1,953,845 396,943
  NetApp Inc. 6,425,063 396,362
  Symantec Corp. 14,900,974 385,190
* Palo Alto Networks Inc. 2,095,465 380,369
  Seagate Technology plc 6,147,605 359,758
* Dell Technologies Inc. Class V 4,870,151 356,544
* Splunk Inc. 3,391,360 333,676
* ANSYS Inc. 2,010,786 315,070
* Square Inc. 6,123,231 301,263
* Synopsys Inc. 3,571,202 297,267
* Arista Networks Inc. 1,151,215 293,905
* Citrix Systems Inc. 3,096,518 287,357
* Akamai Technologies Inc. 3,852,550 273,454
  CA Inc. 7,496,726 254,139

 

 

* Cadence Design Systems Inc.     6,781,628 249,360
* Gartner Inc.     2,068,825 243,335
* VeriSign Inc.     1,979,180 234,652
*,^ Advanced Micro Devices Inc.     21,973,805 220,837
  Juniper Networks Inc.     8,988,647 218,694
* F5 Networks Inc.     1,482,681 214,410
* Qorvo Inc.     3,032,601 213,647
  CDK Global Inc.     3,226,248 204,351
  Marvell Technology Group Ltd.     9,508,868 199,686
  Garmin Ltd.     2,480,984 146,204
  LogMeIn Inc.     1,257,012 145,248
* IAC/InterActiveCorp     920,538 143,954
*,^ Dropbox Inc. Class A     756,716 23,647
* Premier Inc. Class A     155 5
          14,104,964
Telecommunications (0.6%)        
  CenturyLink Inc.     23,070,338 379,046
* Zayo Group Holdings Inc.     5,055,102 172,682
          551,728
Utilities (4.6%)        
  WEC Energy Group Inc.     7,566,602 474,426
  DTE Energy Co.     4,298,834 448,798
  Eversource Energy     7,599,471 447,761
  FirstEnergy Corp.     11,405,548 387,903
  American Water Works Co. Inc.     4,284,948 351,923
  Entergy Corp.     4,321,406 340,440
  Ameren Corp.     5,823,277 329,772
  CMS Energy Corp.     6,770,743 306,647
  CenterPoint Energy Inc.     10,334,088 283,154
  Alliant Energy Corp.     5,543,080 226,490
  Pinnacle West Capital Corp.     2,683,104 214,112
  NiSource Inc.     8,089,172 193,412
  AES Corp.     15,832,412 180,015
  SCANA Corp.     3,419,073 128,386
  Avangrid Inc.     1,487,637 76,048
          4,389,287
Total Common Stocks (Cost $67,310,050)       94,704,699
    Coupon      
Temporary Cash Investments (0.4%)1        
Money Market Fund (0.4%)        
2,3 Vanguard Market Liquidity Fund 1.775%   3,641,231 364,123
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
4 United States Treasury Bill 1.602% 5/24/18 14,000 13,967
4 United States Treasury Bill 1.578% 6/7/18 2,000 1,994
          15,961
Total Temporary Cash Investments (Cost $380,048)       380,084
Total Investments (100.0%) (Cost $67,690,098)       95,084,783
Other Assets and Liabilities-Net (0.0%)3       (12,951)
Net Assets (100%)       95,071,832
* Non-income-producing security.        

 

 

^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $92,100,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 100.0% and 0.0%, respectively, 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.
3 Includes $93,954,000 of collateral received for securities on loan.
4 Securities with a value of $15,263,000 have been segregated as initial margin for open futures contracts.

Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini S&P Mid-Cap 400 Index June 2018 1,000 188,310 (4,252)
E-mini S&P 500 Index June 2018 1,280 169,152 (7,410)
        (11,662)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

 

Mid-Cap Index Fund

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 94,704,699 — —
Temporary Cash Investments 364,123 15,961 —
Futures Contracts—Assets1 4,956 — —
Total 95,073,778 15,961 —
1 Represents variation margin on the last day of the reporting period.

 

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $67,690,098,000. Net unrealized appreciation of investment securities for tax purposes was $27,394,685,000, consisting of unrealized gains of $29,548,074,000 on securities that had risen in value since their purchase and $2,153,389,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Mid-Cap Growth Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.7%)1    
Basic Materials (1.1%)    
  CF Industries Holdings Inc. 1,427,422 53,857
* Axalta Coating Systems Ltd. 1,348,763 40,719
  FMC Corp. 410,500 31,432
      126,008
Consumer Goods (6.4%)    
* Mohawk Industries Inc. 386,385 89,726
  McCormick & Co. Inc. 740,511 78,783
  Church & Dwight Co. Inc. 1,528,264 76,963
* Take-Two Interactive Software Inc. 699,958 68,442
* LKQ Corp. 1,795,759 68,149
* NVR Inc. 21,397 59,912
* Lululemon Athletica Inc. 614,463 54,761
  Snap-on Inc. 346,842 51,173
  Tapestry Inc. 871,014 45,824
* WABCO Holdings Inc. 328,625 43,993
  Polaris Industries Inc. 366,317 41,951
  Hormel Foods Corp. 808,604 27,751
*,^ Under Armour Inc. Class A 1,132,051 18,509
*,^ Under Armour Inc. 1,154,486 16,567
  Hanesbrands Inc. 3,364 62
      742,566
Consumer Services (8.9%)    
* Dollar Tree Inc. 1,449,908 137,596
  MGM Resorts International 3,116,441 109,138
  Ross Stores Inc. 1,168,373 91,110
  Expedia Group Inc. 765,153 84,481
* Ulta Beauty Inc. 354,313 72,375
* CarMax Inc. 1,105,855 68,497
  Wyndham Worldwide Corp. 579,297 66,289
* Norwegian Cruise Line Holdings Ltd. 1,231,786 65,248
* Chipotle Mexican Grill Inc. Class A 170,788 55,183
  Tractor Supply Co. 767,809 48,387
  FactSet Research Systems Inc. 238,626 47,587
  Wynn Resorts Ltd. 251,401 45,845
  Tiffany & Co. 360,972 35,253
  Domino's Pizza Inc. 131,522 30,718
  Alaska Air Group Inc. 375,594 23,272
  Hyatt Hotels Corp. Class A 264,735 20,189
* Altice USA Inc. Class A 755,641 13,964
*,^ TripAdvisor Inc. 327,929 13,409
      1,028,541
Financials (19.1%)    
  Moody's Corp. 993,272 160,215
  Digital Realty Trust Inc. 1,256,426 132,402
* SBA Communications Corp. Class A 718,760 122,850
* IHS Markit Ltd. 2,337,685 112,770
  Essex Property Trust Inc. 403,831 97,194
* Markel Corp. 80,821 94,581

 

 

  First Republic Bank 982,244 90,966
* E*TRADE Financial Corp. 1,628,577 90,239
  Realty Income Corp. 1,737,953 89,904
* CBRE Group Inc. Class A 1,868,177 88,215
  Equifax Inc. 734,272 86,505
  MSCI Inc. Class A 550,950 82,351
  Cboe Global Markets Inc. 689,172 78,635
* SVB Financial Group 323,080 77,542
  Alexandria Real Estate Equities Inc. 619,107 77,320
  Arthur J Gallagher & Co. 1,109,406 76,250
  Vornado Realty Trust 1,045,559 70,366
  AvalonBay Communities Inc. 422,194 69,434
  SEI Investments Co. 865,562 64,839
  Extra Space Storage Inc. 731,990 63,947
  Mid-America Apartment Communities Inc. 694,816 63,395
  SL Green Realty Corp. 604,506 58,534
  Regency Centers Corp. 943,099 55,624
  Iron Mountain Inc. 1,657,441 54,464
  Federal Realty Investment Trust 447,569 51,967
  Invitation Homes Inc. 1,743,880 39,813
* Black Knight Inc. 825,267 38,870
* Liberty Broadband Corp. 67,096 5,749
* Liberty Broadband Corp. Class A 16,106 1,366
  Brixmor Property Group Inc. 460 7
      2,196,314
Health Care (12.5%)    
* Edwards Lifesciences Corp. 1,284,259 179,180
* Align Technology Inc. 465,790 116,974
* Centene Corp. 1,007,868 107,711
* IDEXX Laboratories Inc. 532,744 101,962
* IQVIA Holdings Inc. 955,071 93,702
* Waters Corp. 462,018 91,780
* Incyte Corp. 1,100,157 91,676
* BioMarin Pharmaceutical Inc. 1,073,904 87,061
  ResMed Inc. 873,990 86,062
  Cooper Cos. Inc. 299,762 68,588
* Varian Medical Systems Inc. 558,285 68,474
* Alnylam Pharmaceuticals Inc. 549,951 65,499
* Alkermes plc 954,821 55,341
* Jazz Pharmaceuticals plc 348,260 52,584
* Nektar Therapeutics Class A 490,972 52,171
* ABIOMED Inc. 128,766 37,469
  Teleflex Inc. 141,572 36,098
  Dentsply Sirona Inc. 701,384 35,287
*,^ Seattle Genetics Inc. 313,876 16,428
      1,444,047
Industrials (26.0%)    
* Fiserv Inc. 2,569,108 183,203
  Roper Technologies Inc. 625,930 175,692
  Amphenol Corp. Class A 1,868,001 160,891
* Worldpay Inc. Class A 1,834,622 150,879
  Rockwell Collins Inc. 1,001,147 135,005
  Waste Connections Inc. 1,612,287 115,665
* FleetCor Technologies Inc. 549,144 111,202
  Global Payments Inc. 973,366 108,550
  AMETEK Inc. 1,414,589 107,466

 

 

* Verisk Analytics Inc. Class A 958,628 99,697
  Fastenal Co. 1,758,668 96,006
  Vulcan Materials Co. 808,903 92,352
* Mettler-Toledo International Inc. 155,764 89,569
  Cintas Corp. 520,935 88,861
  TransDigm Group Inc. 287,259 88,171
  Total System Services Inc. 1,011,777 87,276
* CoStar Group Inc. 221,158 80,210
  Martin Marietta Materials Inc. 384,624 79,733
  Masco Corp. 1,916,343 77,497
  Kansas City Southern 630,157 69,223
  Expeditors International of Washington Inc. 1,078,496 68,269
  JB Hunt Transport Services Inc. 536,894 62,897
  Alliance Data Systems Corp. 287,165 61,126
* Trimble Inc. 1,539,491 55,237
  Fortune Brands Home & Security Inc. 928,243 54,664
* Sensata Technologies Holding plc 1,048,167 54,327
* IPG Photonics Corp. 213,290 49,778
* United Rentals Inc. 258,133 44,587
  Wabtec Corp. 528,323 43,006
  Xylem Inc. 549,119 42,238
  Robert Half International Inc. 721,847 41,788
  CH Robinson Worldwide Inc. 426,222 39,941
  Broadridge Financial Solutions Inc. 357,100 39,170
* XPO Logistics Inc. 367,136 37,378
  Acuity Brands Inc. 257,794 35,882
  Packaging Corp. of America 288,469 32,510
  Cognex Corp. 504,093 26,208
  Macquarie Infrastructure Corp. 246,064 9,087
^ ADT Inc. 686,960 5,448
* Stericycle Inc. 6 —
      3,000,689
Oil & Gas (4.3%)    
* Concho Resources Inc. 911,536 137,031
  EQT Corp. 1,617,272 76,837
  Cabot Oil & Gas Corp. 2,828,185 67,820
* Cheniere Energy Inc. 1,235,255 66,024
  Cimarex Energy Co. 583,593 54,566
* Diamondback Energy Inc. 300,511 38,021
  Targa Resources Corp. 669,074 29,439
* Antero Resources Corp. 1,451,754 28,817
      498,555
Technology (21.0%)    
* ServiceNow Inc. 1,056,040 174,722
* Autodesk Inc. 1,346,913 169,145
* Red Hat Inc. 1,082,362 161,824
  Microchip Technology Inc. 1,432,982 130,917
  Harris Corp. 726,019 117,092
* Cerner Corp. 1,932,106 112,062
* Twitter Inc. 3,860,781 112,001
  Skyworks Solutions Inc. 1,115,857 111,876
* Workday Inc. Class A 837,739 106,485
  Lam Research Corp. 498,219 101,218
* Palo Alto Networks Inc. 533,794 96,894
* Splunk Inc. 865,014 85,109
* ANSYS Inc. 512,859 80,360

 

 

*,^ Square Inc.     1,561,789 76,840
* Arista Networks Inc.     293,633 74,965
* Citrix Systems Inc.     790,817 73,388
* Akamai Technologies Inc.     982,628 69,747
* Cadence Design Systems Inc.     1,729,714 63,602
* Gartner Inc.     527,668 62,064
* VeriSign Inc.     504,789 59,848
  Xilinx Inc.     779,101 56,282
* F5 Networks Inc.     378,167 54,687
* Qorvo Inc.     773,487 54,492
  KLA-Tencor Corp.     478,857 52,200
  CDK Global Inc.     822,875 52,121
  LogMeIn Inc.     320,608 37,046
* IAC/InterActiveCorp     235,128 36,769
*,^ Advanced Micro Devices Inc.     2,805,747 28,198
* Dropbox Inc. Class A     93,075 2,909
* Premier Inc. Class A     299 9
          2,414,872
Telecommunications (0.4%)        
* Zayo Group Holdings Inc.     1,289,449 44,048
 
Total Common Stocks (Cost $8,873,338)       11,495,640
    Coupon      
Temporary Cash Investments (0.5%)1        
Money Market Fund (0.5%)        
2,3 Vanguard Market Liquidity Fund 1.775%   539,727 53,973
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
  United States Treasury Bill 1.398% 5/3/18 100 100
4 United States Treasury Bill 1.446% 5/31/18 1,550 1,546
4 United States Treasury Bill 1.783% 6/21/18 1,000 996
4 United States Treasury Bill 1.890% 8/9/18 500 497
          3,139
Total Temporary Cash Investments (Cost $57,105)       57,112
Total Investments (100.2%) (Cost $8,930,443)       11,552,752
Other Asset and Liabilities-Net (-0.2%)3       (28,651)
Net Assets (100%)       11,524,101

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $30,826,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 100.0% and 0.2%, respectively, 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.
3 Includes $31,237,000 of collateral received for securities on loan.
4 Securities with a value of $2,291,000 have been segregated as initial margin for open futures contracts.

 

Mid-Cap Growth Index Fund

Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini S&P Mid-Cap 400 Index June 2018 98 18,454 (417)
E-mini S&P 500 Index June 2018 134 17,708 (243)
        (660)

 

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 11,495,640 — —
Temporary Cash Investments 53,973 3,139 —
Futures Contracts—Assets1 848 — —
Total 11,150,461 3,139 —
1 Represents variation margin on the last day of the reporting period.      

 

 

Mid-Cap Growth Index Fund

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $8,930,443,000. Net unrealized appreciation of investment securities for tax purposes was $2,622,309,000, consisting of unrealized gains of $2,889,203,000 on securities that had risen in value since their purchase and $266,894,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Mid-Cap Value Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.8%)1    
Basic Materials (6.3%)    
* Freeport-McMoRan Inc. 11,543,645 202,822
  Newmont Mining Corp. 4,477,397 174,932
  Eastman Chemical Co. 1,085,697 114,628
  Celanese Corp. Class A 1,139,862 114,226
  International Flavors & Fragrances Inc. 662,993 90,770
  Albemarle Corp. 927,587 86,024
  Avery Dennison Corp. 738,204 78,434
  Mosaic Co. 2,911,094 70,681
  Reliance Steel & Aluminum Co. 578,431 49,595
  FMC Corp. 562,920 43,103
  Westlake Chemical Corp. 325,584 36,189
* Alcoa Corp. 775,762 34,878
  CF Industries Holdings Inc. 63 2
      1,096,284
Consumer Goods (15.2%)    
  Dr Pepper Snapple Group Inc. 1,508,173 178,538
  Clorox Co. 1,085,911 144,546
  DR Horton Inc. 2,996,938 131,386
  Lennar Corp. Class A 2,164,782 127,592
  Conagra Brands Inc. 3,362,522 124,010
  JM Smucker Co. 905,739 112,321
  Molson Coors Brewing Co. Class B 1,476,130 111,197
  Genuine Parts Co. 1,169,072 105,029
  Newell Brands Inc. 4,113,221 104,805
  Lear Corp. 561,701 104,527
  PVH Corp. 645,790 97,792
  Aptiv plc 1,115,721 94,803
  Tyson Foods Inc. Class A 1,248,721 91,394
  Whirlpool Corp. 593,387 90,853
  BorgWarner Inc. 1,767,554 88,784
  Bunge Ltd. 1,180,571 87,291
  Hasbro Inc. 941,157 79,340
* Michael Kors Holdings Ltd. 1,213,987 75,364
  Lamb Weston Holdings Inc. 1,227,972 71,493
  Campbell Soup Co. 1,640,750 71,061
  Coty Inc. Class A 3,778,210 69,141
  PulteGroup Inc. 2,161,892 63,754
  Tapestry Inc. 1,194,451 62,840
  Harley-Davidson Inc. 1,414,553 60,656
  Leucadia National Corp. 2,539,432 57,721
  Hanesbrands Inc. 3,025,882 55,737
  Ralph Lauren Corp. Class A 464,637 51,946
  Ingredion Inc. 302,861 39,045
  Hormel Foods Corp. 1,110,143 38,100
  Goodyear Tire & Rubber Co. 1,007,652 26,783
^ Mattel Inc. 1,441,277 18,953
* Pilgrim's Pride Corp. 417,178 10,267

 

 

  Lennar Corp. Class B 122,627 5,848
      2,652,917
Consumer Services (10.7%)    
  Royal Caribbean Cruises Ltd. 1,434,823 168,936
  Best Buy Co. Inc. 2,085,081 145,935
* Liberty Interactive Corp. QVC Group Class A 3,816,581 96,063
  Nielsen Holdings plc 2,993,652 95,168
  Kohl's Corp. 1,410,438 92,398
  Viacom Inc. Class B 2,945,793 91,496
  Darden Restaurants Inc. 1,036,971 88,402
  Aramark 2,063,867 81,647
  L Brands Inc. 2,014,346 76,968
  Macy's Inc. 2,557,438 76,058
* United Continental Holdings Inc. 1,085,703 75,424
  Interpublic Group of Cos. Inc. 3,262,956 75,146
* AutoZone Inc. 114,842 74,497
  Gap Inc. 2,285,671 71,313
  Advance Auto Parts Inc. 590,182 69,966
  Wynn Resorts Ltd. 345,300 62,969
  News Corp. Class A 3,856,532 60,933
  AmerisourceBergen Corp. Class A 690,762 59,551
* Liberty Media Corp-Liberty SiriusXM C 1,422,187 58,096
  Tiffany & Co. 495,015 48,343
* Discovery Communications Inc. 2,432,036 47,473
  Nordstrom Inc. 977,823 47,336
  Alaska Air Group Inc. 515,668 31,951
* Liberty Media Corp-Liberty SiriusXM A 718,248 29,520
*,^ Discovery Communications Inc. Class A 1,305,003 27,966
  News Corp. Class B 378,120 6,088
^ Viacom Inc. Class A 94,444 3,740
  H&R Block Inc. 58 2
      1,863,385
Financials (26.0%)    
  M&T Bank Corp. 1,134,714 209,196
  Regions Financial Corp. 9,733,927 180,856
  KeyCorp 9,024,224 176,424
  Citizens Financial Group Inc. 4,089,385 171,672
  Willis Towers Watson plc 1,107,893 168,610
  Hartford Financial Services Group Inc. 2,993,832 154,242
  Principal Financial Group Inc. 2,430,539 148,044
  Huntington Bancshares Inc. 9,250,493 139,683
  Comerica Inc. 1,450,163 139,114
  Lincoln National Corp. 1,831,525 133,811
  XL Group Ltd. 2,148,796 118,743
  Host Hotels & Resorts Inc. 6,203,019 115,624
  Invesco Ltd. 3,416,612 109,366
  Annaly Capital Management Inc. 9,733,621 101,522
  Ally Financial Inc. 3,649,455 99,083
  Raymond James Financial Inc. 1,100,004 98,351
  Cincinnati Financial Corp. 1,308,386 97,161
* Arch Capital Group Ltd. 1,089,806 93,277
  HCP Inc. 3,940,905 91,547
  Affiliated Managers Group Inc. 466,621 88,462
  Unum Group 1,857,412 88,431
  Everest Re Group Ltd. 342,816 88,042
  Zions Bancorporation 1,658,242 87,439

 

 

FNF Group 2,176,070 87,086
Nasdaq Inc. 976,912 84,229
Reinsurance Group of America Inc. Class A 541,094 83,329
UDR Inc. 2,251,482 80,198
Duke Realty Corp. 2,997,418 79,372
Torchmark Corp. 920,848 77,508
* Liberty Broadband Corp. 896,779 76,845
Voya Financial Inc. 1,509,133 76,211
Alleghany Corp. 122,777 75,439
Western Union Co. 3,856,463 74,160
Jones Lang LaSalle Inc. 380,481 66,447
Macerich Co. 1,184,010 66,328
Camden Property Trust 777,526 65,452
* Athene Holding Ltd. Class A 1,305,085 62,396
AGNC Investment Corp. 3,281,267 62,082
Loews Corp. 1,173,766 58,371
Lazard Ltd. Class A 1,088,170 57,194
VEREIT Inc. 8,169,279 56,858
WR Berkley Corp. 764,240 55,560
People's United Financial Inc. 2,903,539 54,180
CIT Group Inc. 1,047,496 53,946
New York Community Bancorp Inc. 3,891,457 50,706
Kimco Realty Corp. 3,397,743 48,928
* Brighthouse Financial Inc. 803,483 41,299
Brixmor Property Group Inc. 1,277,558 19,483
* Liberty Broadband Corp. Class A 209,486 17,764
* Markel Corp. 5 6
Axis Capital Holdings Ltd. 24 1
Assurant Inc. 13 1
    4,530,079
Health Care (4.2%)    
* Laboratory Corp. of America Holdings 854,236 138,173
Quest Diagnostics Inc. 1,143,903 114,733
Perrigo Co. plc 1,064,119 88,684
* Hologic Inc. 2,321,454 86,729
* Henry Schein Inc. 1,290,282 86,720
Universal Health Services Inc. Class B 698,908 82,758
* DaVita Inc. 1,148,971 75,763
Dentsply Sirona Inc. 964,694 48,534
    722,094
Industrials (11.2%)    
WestRock Co. 2,140,937 137,384
L3 Technologies Inc. 656,450 136,542
Dover Corp. 1,295,945 127,288
WW Grainger Inc. 449,081 126,762
Ball Corp. 2,937,861 116,663
Textron Inc. 1,977,296 116,601
Huntington Ingalls Industries Inc. 375,938 96,902
Pentair plc 1,371,901 93,468
Arconic Inc. 3,636,713 83,790
Owens Corning 938,283 75,438
Jacobs Engineering Group Inc. 1,189,652 70,368
Fluor Corp. 1,174,943 67,230
ManpowerGroup Inc. 555,687 63,960
* First Data Corp. Class A 3,847,268 61,556
* United Rentals Inc. 354,527 61,237

 

 

  Sealed Air Corp. 1,403,538 60,057
  Xerox Corp. 2,031,531 58,468
  Xylem Inc. 753,016 57,922
* Crown Holdings Inc. 1,125,959 57,142
* Arrow Electronics Inc. 735,490 56,647
  Hubbell Inc. Class B 459,733 55,986
  CH Robinson Worldwide Inc. 584,498 54,773
  Allison Transmission Holdings Inc. 1,115,804 43,583
  FLIR Systems Inc. 580,999 29,056
  Flowserve Corp. 546,413 23,676
* Stericycle Inc. 357,960 20,951
      1,953,450
Oil & Gas (7.3%)    
  ONEOK Inc. 3,420,998 194,723
  Devon Energy Corp. 4,415,252 140,361
  Hess Corp. 2,511,871 127,151
  Noble Energy Inc. 4,086,367 123,817
  Andeavor 1,225,962 123,283
  National Oilwell Varco Inc. 3,190,480 117,441
  Marathon Oil Corp. 7,131,616 115,033
  Baker Hughes a GE Co. 3,593,833 99,801
  Apache Corp. 1,600,167 61,574
  OGE Energy Corp. 1,674,643 54,878
* Continental Resources Inc. 786,594 46,370
  HollyFrontier Corp. 743,647 36,335
  Helmerich & Payne Inc. 433,638 28,863
      1,269,630
Other (0.0%)2    
*,3 Safeway Inc. CVR (PDC) Exp. 01/30/2019 1,233 —
 
Technology (9.3%)    
  Western Digital Corp. 2,497,051 230,403
  Motorola Solutions Inc. 1,353,574 142,531
  Maxim Integrated Products Inc. 2,359,750 142,104
  NetApp Inc. 2,248,251 138,695
  Symantec Corp. 5,215,579 134,823
  Seagate Technology plc 2,151,282 125,893
* Dell Technologies Inc. Class V 1,704,742 124,804
* Synopsys Inc. 1,250,228 104,069
  CA Inc. 2,624,912 88,985
  Xilinx Inc. 1,069,708 77,276
  Juniper Networks Inc. 3,147,800 76,586
  KLA-Tencor Corp. 657,512 71,675
  Marvell Technology Group Ltd. 3,330,256 69,935
  Garmin Ltd. 867,912 51,146
*,^ Advanced Micro Devices Inc. 3,843,186 38,624
* Dropbox Inc. Class A 138,813 4,338
      1,621,887
Telecommunications (0.8%)    
  CenturyLink Inc. 8,073,660 132,650
 
Utilities (8.8%)    
  WEC Energy Group Inc. 2,648,588 166,066
  DTE Energy Co. 1,505,505 157,175
  Eversource Energy 2,659,299 156,686
  FirstEnergy Corp. 3,991,425 135,748

 

 

  American Water Works Co. Inc.     1,498,542 123,075
  Entergy Corp.     1,512,803 119,179
  Ameren Corp.     2,036,447 115,324
  CMS Energy Corp.     2,370,543 107,362
  CenterPoint Energy Inc.     3,618,306 99,142
  Alliant Energy Corp.     1,941,312 79,322
  Pinnacle West Capital Corp.     938,206 74,869
  NiSource Inc.     2,829,375 67,650
  AES Corp.     5,547,072 63,070
  SCANA Corp.     1,195,922 44,907
  Avangrid Inc.     519,067 26,535
          1,536,110
Total Common Stocks (Cost $14,287,080)       17,378,486
    Coupon      
Temporary Cash Investments (0.1%)1        
Money Market Fund (0.1%)        
4,5 Vanguard Market Liquidity Fund 1.775%   247,280 24,728
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
6 United States Treasury Bill 1.398% 5/3/18 100 100
6 United States Treasury Bill 1.446% 5/31/18 1,675 1,670
6 United States Treasury Bill 1.890% 8/9/18 500 497
          2,267
Total Temporary Cash Investments (Cost $26,993)       26,995
Total Investments (99.9%) (Cost $14,314,073)       17,405,481
Other Assets and Liabilities-Net (0.1%)5       11,503
Net Assets (100%)       17,416,984

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $11,558,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 100.0% and -0.1%, respectively, of net assets.
2 “Other” represents securities that are not classified by the fund’s benchmark index.
3 Security value determined using significant unobservable inputs.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $11,853,000 of collateral received for securities on loan.
6 Securities with a value of $1,820,000 have been segregated as initial margin for open futures contracts.
CVR—Contingent Value Rights.

 

Mid-Cap Value Index Fund

Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini S&P Mid-Cap 400 Index June 2018 115 21,656 (489)
E-mini S&P 500 Index June 2018 110 14,537 (702)
        (1,191)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 17,378,486 — —
Temporary Cash Investments 24,728 2,267 —
Futures Contracts—Assets1 678 — —
Total 17,403,892 2,267 —
1 Represents variation margin on the last day of the reporting period.      

 

 

Mid-Cap Value Index Fund

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $14,314,073,000. Net unrealized appreciation of investment securities for tax purposes was $3,091,408,000, consisting of unrealized gains of $3,583,915,000 on securities that had risen in value since their purchase and $492,507,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Small-Cap Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.2%)1    
Basic Materials (4.4%)    
  Steel Dynamics Inc. 5,382,972 238,035
  Chemours Co. 4,365,467 212,642
  RPM International Inc. 3,195,996 152,353
  United States Steel Corp. 4,206,601 148,030
  Huntsman Corp. 4,883,723 142,849
  Royal Gold Inc. 1,564,895 134,378
  Olin Corp. 3,995,766 121,431
  Ashland Global Holdings Inc. 1,490,001 103,987
* Alcoa Corp. 2,211,996 99,451
  WR Grace & Co. 1,623,314 99,395
  Versum Materials Inc. 2,603,790 97,981
  NewMarket Corp. 225,464 90,564
  PolyOne Corp. 1,934,491 82,255
  Scotts Miracle-Gro Co. 954,471 81,846
* Univar Inc. 2,700,716 74,945
  Cabot Corp. 1,332,553 74,250
* Ingevity Corp. 1,007,318 74,229
  Peabody Energy Corp. 2,032,431 74,184
  Sensient Technologies Corp. 1,040,720 73,454
  KapStone Paper and Packaging Corp. 2,089,906 71,705
* Allegheny Technologies Inc. 3,011,526 71,313
  Domtar Corp. 1,499,761 63,800
  Balchem Corp. 765,466 62,577
  HB Fuller Co. 1,208,410 60,094
  Minerals Technologies Inc. 847,824 56,762
  Commercial Metals Co. 2,656,258 54,347
* Platform Specialty Products Corp. 5,161,678 49,707
* Cleveland-Cliffs Inc. 7,129,810 49,552
  Carpenter Technology Corp. 1,122,666 49,532
  US Silica Holdings Inc. 1,924,214 49,106
  Compass Minerals International Inc. 809,295 48,800
* GCP Applied Technologies Inc. 1,630,855 47,376
* Ferro Corp. 2,005,067 46,558
  Arch Coal Inc. Class A 499,234 45,870
  Quaker Chemical Corp. 301,949 44,728
  Worthington Industries Inc. 1,031,525 44,273
* Cambrex Corp. 785,502 41,082
  Stepan Co. 484,807 40,326
  Innospec Inc. 582,379 39,951
  Kaiser Aluminum Corp. 381,089 38,452
  Tronox Ltd. Class A 2,068,173 38,137
* Kraton Corp. 758,328 36,180
* Coeur Mining Inc. 4,433,913 35,471
  Hecla Mining Co. 9,548,893 35,044
*,^ AK Steel Holding Corp. 7,540,028 34,156
  A Schulman Inc. 634,694 27,292
  Rayonier Advanced Materials Inc. 1,236,270 26,543
  PH Glatfelter Co. 1,042,180 21,396
* Koppers Holdings Inc. 496,890 20,422

 

 

  Warrior Met Coal Inc. 700,603 19,624
* Century Aluminum Co. 1,148,157 18,990
  Innophos Holdings Inc. 466,120 18,743
* CONSOL Energy Inc. 603,222 17,475
*,^ Fairmount Santrol Holdings Inc. 3,746,439 15,922
* Clearwater Paper Corp. 392,830 15,360
  Tredegar Corp. 749,461 13,453
  American Vanguard Corp. 639,944 12,927
  Kronos Worldwide Inc. 553,888 12,518
* Resolute Forest Products Inc. 1,394,649 11,576
  Haynes International Inc. 299,044 11,097
* PQ Group Holdings Inc. 644,997 9,011
* SunCoke Energy Inc. 772,041 8,307
  FutureFuel Corp. 626,255 7,509
      3,719,323
Consumer Goods (6.7%)    
* US Foods Holding Corp. 5,134,657 168,263
* Middleby Corp. 1,337,298 165,544
  Pinnacle Foods Inc. 2,849,099 154,136
  Gentex Corp. 6,563,443 151,090
  Toll Brothers Inc. 3,306,561 143,009
* Herbalife Ltd. 1,464,630 142,758
  Leggett & Platt Inc. 3,163,239 140,321
  Thor Industries Inc. 1,197,227 137,885
  Pool Corp. 912,846 133,476
  Brunswick Corp. 2,094,100 124,369
* Skechers U.S.A. Inc. Class A 3,042,304 118,315
  Carter's Inc. 1,131,961 117,837
* Post Holdings Inc. 1,491,640 113,007
  Ingredion Inc. 865,032 111,520
  Valvoline Inc. 4,783,863 105,867
  Delphi Technologies plc 2,118,157 100,930
  Flowers Foods Inc. 4,282,868 93,624
  Dana Inc. 3,468,883 89,358
  Nu Skin Enterprises Inc. Class A 1,198,877 88,369
*,^ Wayfair Inc. 1,303,730 88,041
  Energizer Holdings Inc. 1,427,812 85,069
* Blue Buffalo Pet Products Inc. 2,100,755 83,631
* Visteon Corp. 739,263 81,496
  Goodyear Tire & Rubber Co. 2,877,634 76,488
* Hain Celestial Group Inc. 2,364,303 75,823
* Zynga Inc. Class A 18,793,774 68,785
* Deckers Outdoor Corp. 760,604 68,477
* Darling Ingredients Inc. 3,937,985 68,127
  Tenneco Inc. 1,234,507 67,737
* Welbilt Inc. 3,340,617 64,975
* Edgewell Personal Care Co. 1,291,996 63,075
  Wolverine World Wide Inc. 2,177,527 62,931
* Taylor Morrison Home Corp. Class A 2,664,055 62,019
* TRI Pointe Group Inc. 3,621,146 59,495
  KB Home 2,077,854 59,115
  LCI Industries 566,798 59,032
  Sanderson Farms Inc. 492,382 58,603
  Columbia Sportswear Co. 752,816 57,538
^ Spectrum Brands Holdings Inc. 554,373 57,489
  Lancaster Colony Corp. 459,703 56,608
* Helen of Troy Ltd. 644,819 56,099

 

 

  Steven Madden Ltd. 1,275,105 55,977
^ Mattel Inc. 4,108,094 54,021
* Cooper-Standard Holdings Inc. 428,784 52,659
* TreeHouse Foods Inc. 1,353,466 51,797
  Tupperware Brands Corp. 1,035,424 50,094
* Tempur Sealy International Inc. 1,103,785 49,990
  Vector Group Ltd. 2,421,838 49,381
  J&J Snack Foods Corp. 357,092 48,765
  Herman Miller Inc. 1,430,818 45,715
* Dorman Products Inc. 645,380 42,731
  WD-40 Co. 316,042 41,623
* Meritage Homes Corp. 917,964 41,538
*,^ iRobot Corp. 634,730 40,743
* American Axle & Manufacturing Holdings Inc. 2,663,741 40,542
* Boston Beer Co. Inc. Class A 200,656 37,934
^ B&G Foods Inc. 1,589,586 37,673
* G-III Apparel Group Ltd. 997,401 37,582
  HNI Corp. 1,038,549 37,481
  Interface Inc. Class A 1,440,375 36,297
  Cooper Tire & Rubber Co. 1,215,090 35,602
* Central Garden & Pet Co. Class A 873,296 34,591
  La-Z-Boy Inc. 1,123,075 33,636
* Hostess Brands Inc. Class A 2,266,760 33,525
* Sleep Number Corp. 927,324 32,595
  ACCO Brands Corp. 2,549,128 31,992
  Fresh Del Monte Produce Inc. 699,973 31,667
  MDC Holdings Inc. 1,077,020 30,070
* Avon Products Inc. 10,571,246 30,022
  Seaboard Corp. 7,014 29,915
*,^ Cal-Maine Foods Inc. 679,599 29,699
* Gentherm Inc. 873,894 29,669
  Universal Corp. 598,055 29,006
  Schweitzer-Mauduit International Inc. 734,151 28,742
  Oxford Industries Inc. 383,450 28,590
* Crocs Inc. 1,587,280 25,793
  National Beverage Corp. 278,203 24,766
* USANA Health Sciences Inc. 285,638 24,536
* Modine Manufacturing Co. 1,146,081 24,240
  Steelcase Inc. Class A 1,740,586 23,672
*,^ Fitbit Inc. Class A 4,440,007 22,644
  Knoll Inc. 1,121,506 22,643
* Vista Outdoor Inc. 1,369,471 22,350
  Briggs & Stratton Corp. 973,693 20,847
  Andersons Inc. 610,631 20,212
  Inter Parfums Inc. 408,026 19,238
  Coca-Cola Bottling Co. Consolidated 110,694 19,114
  Dean Foods Co. 2,188,676 18,866
  Phibro Animal Health Corp. Class A 467,020 18,541
  Acushnet Holdings Corp. 800,695 18,488
  Movado Group Inc. 369,156 14,176
  Ethan Allen Interiors Inc. 589,145 13,521
*,^ Fossil Group Inc. 1,043,214 13,249
*,^ GoPro Inc. Class A 2,645,612 12,673
  National Presto Industries Inc. 125,869 11,800
* Central Garden & Pet Co. 252,048 10,838
*,^ elf Beauty Inc. 550,890 10,671
^ Tootsie Roll Industries Inc. 325,304 9,580

 

 

  Titan International Inc. 605,843 7,640
  Superior Industries International Inc. 567,622 7,549
*,^ Revlon Inc. Class A 186,837 3,849
* Take-Two Interactive Software Inc. 72 7
      5,643,698
Consumer Services (12.0%)    
* Copart Inc. 4,980,087 253,636
* Burlington Stores Inc. 1,632,446 217,360
  Vail Resorts Inc. 966,424 214,256
* GrubHub Inc. 1,977,160 200,622
  KAR Auction Services Inc. 3,215,132 174,260
* ServiceMaster Global Holdings Inc. 3,230,127 164,252
* Caesars Entertainment Corp. 14,314,664 161,040
  Service Corp. International 4,204,335 158,672
* JetBlue Airways Corp. 7,696,612 156,395
* Liberty Media Corp-Liberty Formula One Class C 4,760,208 146,852
* Bright Horizons Family Solutions Inc. 1,382,687 137,882
* Live Nation Entertainment Inc. 3,214,721 135,468
  Foot Locker Inc. 2,898,775 132,010
  Dunkin' Brands Group Inc. 2,159,831 128,920
  H&R Block Inc. 5,000,064 127,052
* Grand Canyon Education Inc. 1,155,238 121,208
  Domino's Pizza Inc. 514,361 120,134
  Rollins Inc. 2,347,652 119,801
  Six Flags Entertainment Corp. 1,720,510 107,119
  Sabre Corp. 4,932,716 105,807
  Chemed Corp. 382,202 104,288
  Dun & Bradstreet Corp. 886,132 103,677
* Madison Square Garden Co. Class A 409,350 100,618
  Casey's General Stores Inc. 898,930 98,676
* Five Below Inc. 1,320,897 96,875
  Williams-Sonoma Inc. 1,811,754 95,588
* Hilton Grand Vacations Inc. 2,200,248 94,655
  Cinemark Holdings Inc. 2,506,339 94,414
^ Cracker Barrel Old Country Store Inc. 574,977 91,536
  Extended Stay America Inc. 4,604,256 91,026
  Texas Roadhouse Inc. Class A 1,532,560 88,551
  Dolby Laboratories Inc. Class A 1,381,127 87,784
* Beacon Roofing Supply Inc. 1,628,331 86,416
  Cable One Inc. 116,591 80,111
* Stamps.com Inc. 397,089 79,835
  Aaron's Inc. 1,695,002 78,987
* Yelp Inc. Class A 1,886,478 78,760
  ILG Inc. 2,520,574 78,415
* Avis Budget Group Inc. 1,655,811 77,558
* Planet Fitness Inc. Class A 2,050,438 77,445
  Tribune Media Co. Class A 1,880,027 76,160
  American Eagle Outfitters Inc. 3,819,628 76,125
  Wendy's Co. 4,318,926 75,797
  New York Times Co. Class A 3,091,680 74,509
* SiteOne Landscape Supply Inc. 955,371 73,602
* Etsy Inc. 2,618,550 73,476
  AMERCO 211,089 72,847
* Ollie's Bargain Outlet Holdings Inc. 1,181,626 71,252
* Sprouts Farmers Market Inc. 3,032,663 71,177
* Performance Food Group Co. 2,365,298 70,604
  John Wiley & Sons Inc. Class A 1,085,463 69,144

 

 

  Nexstar Media Group Inc. Class A 1,036,911 68,955
  Bed Bath & Beyond Inc. 3,234,122 67,884
  Marriott Vacations Worldwide Corp. 507,598 67,612
* AutoNation Inc. 1,430,248 66,907
  Dick's Sporting Goods Inc. 1,880,228 65,902
* Adtalem Global Education Inc. 1,372,057 65,241
  Choice Hotels International Inc. 813,150 65,174
  SkyWest Inc. 1,178,054 64,086
* Shutterfly Inc. 778,849 63,281
  Churchill Downs Inc. 259,165 63,249
  Graham Holdings Co. Class B 103,821 62,526
* AMC Networks Inc. Class A 1,206,163 62,359
  Hillenbrand Inc. 1,356,450 62,261
* Urban Outfitters Inc. 1,684,244 62,250
* Spirit Airlines Inc. 1,630,409 61,597
  Jack in the Box Inc. 707,452 60,367
  Boyd Gaming Corp. 1,885,717 60,079
  TEGNA Inc. 5,152,822 58,691
  Lions Gate Entertainment Corp. Class B 2,421,244 58,304
  Lithia Motors Inc. Class A 573,640 57,662
  Sinclair Broadcast Group Inc. Class A 1,822,998 57,060
  Children's Place Inc. 416,313 56,306
* Murphy USA Inc. 771,486 56,164
  Signet Jewelers Ltd. 1,448,329 55,790
* Sotheby's 1,068,575 54,829
* Scientific Games Corp. 1,285,369 53,471
  Allegiant Travel Co. Class A 307,568 53,071
* TripAdvisor Inc. 1,282,661 52,448
* United Natural Foods Inc. 1,207,633 51,856
  PriceSmart Inc. 618,697 51,692
* Penn National Gaming Inc. 1,960,272 51,477
* Michaels Cos. Inc. 2,601,048 51,267
* Liberty Expedia Holdings Inc. Class A 1,302,466 51,161
  Meredith Corp. 948,160 51,011
* Sally Beauty Holdings Inc. 2,998,986 49,333
  Red Rock Resorts Inc. Class A 1,642,694 48,098
  Bloomin' Brands Inc. 1,965,520 47,723
  Cheesecake Factory Inc. 986,192 47,554
* Cars.com Inc. 1,631,593 46,223
* Eldorado Resorts Inc. 1,377,471 45,457
  Hawaiian Holdings Inc. 1,165,496 45,105
* Weight Watchers International Inc. 694,261 44,238
  Big Lots Inc. 1,007,374 43,851
* Groupon Inc. Class A 10,073,185 43,718
*,^ RH 458,739 43,709
*,^ Rite Aid Corp. 25,546,674 42,918
* Acxiom Corp. 1,804,227 40,974
* Dave & Buster's Entertainment Inc. 975,158 40,703
  Brinker International Inc. 1,110,927 40,104
  Monro Inc. 747,072 40,043
  Abercrombie & Fitch Co. 1,628,078 39,416
* Pinnacle Entertainment Inc. 1,305,357 39,357
  Morningstar Inc. 406,516 38,830
* Herc Holdings Inc. 575,056 37,350
* La Quinta Holdings Inc. 1,966,257 37,182
  Matthews International Corp. Class A 733,891 37,135
  DSW Inc. Class A 1,646,320 36,976

 

 

  Penske Automotive Group Inc. 820,209 36,360
^ Lions Gate Entertainment Corp. Class A 1,316,330 34,001
* Asbury Automotive Group Inc. 499,406 33,710
  Papa John's International Inc. 587,452 33,661
  World Wrestling Entertainment Inc. Class A 917,635 33,044
  Wingstop Inc. 697,466 32,941
* Rush Enterprises Inc. Class A 764,430 32,481
* MSG Networks Inc. 1,402,902 31,706
*,^ Trade Desk Inc. Class A 635,734 31,545
  Caleres Inc. 927,556 31,166
  Group 1 Automotive Inc. 475,045 31,039
  GameStop Corp. Class A 2,420,888 30,552
  Tailored Brands Inc. 1,176,441 29,482
  Entercom Communications Corp. Class A 2,971,194 28,672
  Guess? Inc. 1,375,137 28,520
*,^ Pandora Media Inc. 5,648,245 28,411
  Chico's FAS Inc. 3,051,297 27,584
  Dine Brands Global Inc. 410,012 26,889
  Strayer Education Inc. 265,274 26,806
  Gannett Co. Inc. 2,670,343 26,650
  Office Depot Inc. 12,340,692 26,532
* Quotient Technology Inc. 1,897,930 24,863
* Diplomat Pharmacy Inc. 1,224,982 24,683
  International Speedway Corp. Class A 555,730 24,508
  Capella Education Co. 279,176 24,386
* Chegg Inc. 1,178,719 24,352
* Hertz Global Holdings Inc. 1,201,237 23,845
^ Dillard's Inc. Class A 292,290 23,483
  Scholastic Corp. 595,995 23,148
  Core-Mark Holding Co. Inc. 1,048,443 22,290
  Sonic Corp. 876,406 22,112
* Belmond Ltd. Class A 1,955,290 21,801
*,^ Party City Holdco Inc. 1,394,445 21,753
*,^ JC Penney Co. Inc. 7,071,765 21,357
  BJ's Restaurants Inc. 468,007 21,014
  New Media Investment Group Inc. 1,206,718 20,683
* National Vision Holdings Inc. 628,488 20,306
*,^ ANGI Homeservices Inc. Class A 1,421,971 19,310
*,^ SeaWorld Entertainment Inc. 1,295,526 19,213
* Liberty Media Corp-Liberty Formula One Class A 644,233 18,870
* Liberty TripAdvisor Holdings Inc. Class A 1,722,103 18,513
* Genesco Inc. 451,694 18,339
*,^ Shake Shack Inc. Class A 440,042 18,319
^ AMC Entertainment Holdings Inc. Class A 1,270,965 17,857
* Houghton Mifflin Harcourt Co. 2,504,958 17,409
* Laureate Education Inc. Class A 1,243,027 17,092
* Lumber Liquidators Holdings Inc. 679,939 16,264
  EW Scripps Co. Class A 1,337,487 16,036
* TrueCar Inc. 1,684,320 15,934
^ Buckle Inc. 698,169 15,464
  SUPERVALU Inc. 916,431 13,957
* Express Inc. 1,881,303 13,470
*,^ Roku Inc. 433,113 13,470
* K12 Inc. 938,424 13,307
* Regis Corp. 835,513 12,641
  Emerald Expositions Events Inc. 611,200 11,906
  Finish Line Inc. Class A 864,948 11,711

 

 

* Biglari Holdings Inc. 27,765 11,339
* Zumiez Inc. 451,049 10,780
*,^ Cargurus Inc. 278,531 10,715
  Sonic Automotive Inc. Class A 557,453 10,564
* Fiesta Restaurant Group Inc. 516,154 9,549
  National CineMedia Inc. 1,779,383 9,235
  Weis Markets Inc. 223,442 9,157
* Ascena Retail Group Inc. 4,446,990 8,938
^ Rent-A-Center Inc. 1,016,029 8,768
* American Public Education Inc. 183,794 7,903
* Rush Enterprises Inc. Class B 154,346 6,232
* Bojangles' Inc. 396,733 5,495
* Hibbett Sports Inc. 226,634 5,428
*,^ Lands' End Inc. 228,642 5,339
  Speedway Motorsports Inc. 296,446 5,283
* El Pollo Loco Holdings Inc. 504,469 4,792
*,^ Stitch Fix Inc. Class A 218,315 4,427
  Clear Channel Outdoor Holdings Inc. Class A 893,516 4,378
  Cato Corp. Class A 261,045 3,848
* Smart & Final Stores Inc. 601,475 3,338
  Pier 1 Imports Inc. 932,318 3,002
*,^ GNC Holdings Inc. Class A 777,342 3,001
  Barnes & Noble Inc. 601,501 2,977
  Tile Shop Holdings Inc. 461,257 2,768
*,^ Blue Apron Holdings Inc. Class A 632,944 1,266
*,^ Sears Holdings Corp. 387,729 1,035
* Clean Energy Fuels Corp. 660 1
* Habit Restaurants Inc. Class A 92 1
      10,145,618
Financials (24.8%)    
  East West Bancorp Inc. 3,456,816 216,189
  American Financial Group Inc. 1,688,622 189,497
  MarketAxess Holdings Inc. 854,877 185,884
* Signature Bank 1,240,768 176,127
  Kilroy Realty Corp. 2,360,745 167,518
  Equity LifeStyle Properties Inc. 1,906,627 167,345
  Sun Communities Inc. 1,811,198 165,489
  WP Carey Inc. 2,553,434 158,287
  Apartment Investment & Management Co. 3,757,158 153,104
  PacWest Bancorp 3,083,502 152,726
  Eaton Vance Corp. 2,685,268 149,489
  First American Financial Corp. 2,522,590 148,026
  First Horizon National Corp. 7,803,954 146,948
  Gaming and Leisure Properties Inc. 4,365,695 146,120
  Cullen/Frost Bankers Inc. 1,370,412 145,360
  National Retail Properties Inc. 3,674,898 144,276
  Brown & Brown Inc. 5,614,570 142,835
  Janus Henderson Group plc 4,312,680 142,707
  Douglas Emmett Inc. 3,855,297 141,721
  Bank of the Ozarks 2,912,682 140,595
  Liberty Property Trust 3,527,767 140,158
  Commerce Bancshares Inc. 2,296,002 137,553
* Zillow Group Inc. 2,555,431 137,482
  Synovus Financial Corp. 2,700,345 134,855
  RenaissanceRe Holdings Ltd. 957,448 132,616
  New Residential Investment Corp. 8,036,389 132,199
* Western Alliance Bancorp 2,272,169 132,036

 

 

  Healthcare Trust of America Inc. Class A 4,907,973 129,816
  Old Republic International Corp. 6,001,904 128,741
* Howard Hughes Corp. 923,640 128,506
^ Omega Healthcare Investors Inc. 4,747,920 128,384
  Lamar Advertising Co. Class A 2,009,237 127,908
  DCT Industrial Trust Inc. 2,243,929 126,423
  American Campus Communities Inc. 3,265,640 126,119
  LPL Financial Holdings Inc. 2,044,887 124,881
  Starwood Property Trust Inc. 5,931,963 124,275
  CubeSmart 4,358,110 122,899
  Webster Financial Corp. 2,204,504 122,130
  Hudson Pacific Properties Inc. 3,747,693 121,912
  Validus Holdings Ltd. 1,801,828 121,533
  Hanover Insurance Group Inc. 1,017,212 119,919
  CyrusOne Inc. 2,301,424 117,856
  Park Hotels & Resorts Inc. 4,331,092 117,026
  American Homes 4 Rent Class A 5,813,420 116,733
  Forest City Realty Trust Inc. Class A 5,740,471 116,302
* GCI Liberty Inc. Class A 2,195,830 116,072
  Wintrust Financial Corp. 1,339,691 115,280
* MGIC Investment Corp. 8,861,964 115,206
  Sterling Bancorp 5,104,246 115,101
  Assurant Inc. 1,256,441 114,851
  Prosperity Bancshares Inc. 1,578,363 114,636
  Pinnacle Financial Partners Inc. 1,768,814 113,558
  Medical Properties Trust Inc. 8,705,680 113,174
  Umpqua Holdings Corp. 5,269,379 112,817
  Interactive Brokers Group Inc. 1,625,112 109,273
  Axis Capital Holdings Ltd. 1,889,384 108,772
  Rayonier Inc. 3,084,309 108,506
  Highwoods Properties Inc. 2,472,116 108,328
*,^ Credit Acceptance Corp. 323,551 106,904
* Texas Capital Bancshares Inc. 1,187,529 106,759
  Hancock Holding Co. 2,038,516 105,391
  FNB Corp. 7,738,278 104,080
  STORE Capital Corp. 4,174,078 103,601
  Associated Banc-Corp 4,121,347 102,415
  Primerica Inc. 1,058,238 102,226
  BankUnited Inc. 2,555,172 102,156
  Popular Inc. 2,441,589 101,619
  IBERIABANK Corp. 1,288,908 100,535
  Radian Group Inc. 5,162,949 98,303
  EPR Properties 1,764,545 97,756
  Assured Guaranty Ltd. 2,669,140 96,623
  Hospitality Properties Trust 3,740,071 94,773
  Valley National Bancorp 7,486,344 93,280
  Chemical Financial Corp. 1,703,562 93,151
  Life Storage Inc. 1,114,210 93,059
  Stifel Financial Corp. 1,555,162 92,112
  Apple Hospitality REIT Inc. 5,230,795 91,905
* Essent Group Ltd. 2,112,238 89,897
  Senior Housing Properties Trust 5,689,622 89,099
  Realogy Holdings Corp. 3,260,592 88,949
  Cousins Properties Inc. 10,052,186 87,253
* Equity Commonwealth 2,828,343 86,745
  CNO Financial Group Inc. 3,993,256 86,534
  FirstCash Inc. 1,057,416 85,915

 

 

JBG SMITH Properties 2,540,001 85,623
Home BancShares Inc. 3,742,656 85,370
Selective Insurance Group Inc. 1,404,532 85,255
Investors Bancorp Inc. 6,228,843 84,961
Bank of Hawaii Corp. 1,016,768 84,493
TCF Financial Corp. 3,698,070 84,353
United Bankshares Inc. 2,390,153 84,253
First Industrial Realty Trust Inc. 2,867,864 83,828
Gramercy Property Trust 3,847,444 83,605
Spirit Realty Capital Inc. 10,749,207 83,414
Healthcare Realty Trust Inc. 2,995,411 83,003
Navient Corp. 6,295,910 82,602
CoreSite Realty Corp. 819,968 82,210
Legg Mason Inc. 2,021,733 82,183
Sunstone Hotel Investors Inc. 5,393,779 82,093
Weingarten Realty Investors 2,916,045 81,883
RLJ Lodging Trust 4,185,599 81,368
Ryman Hospitality Properties Inc. 1,041,176 80,639
Colony NorthStar Inc. Class A 14,023,776 78,814
LaSalle Hotel Properties 2,712,204 78,681
BGC Partners Inc. Class A 5,848,622 78,664
Taubman Centers Inc. 1,381,156 78,602
UMB Financial Corp. 1,077,185 77,977
MB Financial Inc. 1,906,757 77,186
^ Blackstone Mortgage Trust Inc. Class A 2,455,294 77,145
Sabra Health Care REIT Inc. 4,270,037 75,366
South State Corp. 879,373 75,010
* HealthEquity Inc. 1,232,989 74,645
Fulton Financial Corp. 4,188,029 74,337
Chimera Investment Corp. 4,269,190 74,327
PotlatchDeltic Corp. 1,423,771 74,107
Cathay General Bancorp 1,838,349 73,497
BancorpSouth Bank 2,306,248 73,339
Columbia Banking System Inc. 1,746,078 73,248
Glacier Bancorp Inc. 1,907,707 73,218
Federated Investors Inc. Class B 2,174,660 72,634
* Zillow Group Inc. Class A 1,331,474 71,900
MFA Financial Inc. 9,533,198 71,785
Erie Indemnity Co. Class A 607,992 71,524
Washington Federal Inc. 2,059,282 71,251
First Financial Bankshares Inc. 1,534,953 71,068
* Green Dot Corp. Class A 1,100,706 70,621
* SLM Corp. 6,298,177 70,603
White Mountains Insurance Group Ltd. 85,280 70,144
Paramount Group Inc. 4,889,577 69,628
Brandywine Realty Trust 4,271,102 67,825
Physicians Realty Trust 4,294,052 66,858
EastGroup Properties Inc. 789,568 65,266
Community Bank System Inc. 1,212,727 64,954
^ Uniti Group Inc. 3,990,062 64,838
Evercore Inc. Class A 740,146 64,541
Two Harbors Investment Corp. 4,166,811 64,044
Aspen Insurance Holdings Ltd. 1,423,070 63,825
Empire State Realty Trust Inc. 3,796,972 63,751
National Health Investors Inc. 944,317 63,543
RLI Corp. 1,001,206 63,466
Corporate Office Properties Trust 2,425,376 62,647

 

 

  Outfront Media Inc. 3,322,176 62,258
  ProAssurance Corp. 1,278,458 62,069
  Old National Bancorp 3,636,248 61,453
  Retail Properties of America Inc. 5,244,823 61,155
* Blackhawk Network Holdings Inc. 1,361,051 60,839
  GEO Group Inc. 2,970,490 60,806
  First Midwest Bancorp Inc. 2,455,587 60,383
  First Citizens BancShares Inc. Class A 144,810 59,841
  American Equity Investment Life Holding Co. 2,030,409 59,613
  Education Realty Trust Inc. 1,814,761 59,433
  Columbia Property Trust Inc. 2,866,193 58,642
  First Financial Bancorp 1,997,275 58,620
  United Community Banks Inc. 1,801,960 57,032
  Piedmont Office Realty Trust Inc. Class A 3,241,016 57,009
  Pebblebrook Hotel Trust 1,652,687 56,770
  Great Western Bancorp Inc. 1,408,893 56,736
  CVB Financial Corp. 2,502,113 56,648
*,^ LendingTree Inc. 171,666 56,332
  Simmons First National Corp. Class A 1,979,661 56,321
  Hope Bancorp Inc. 3,079,780 56,021
  STAG Industrial Inc. 2,328,424 55,696
  Brixmor Property Group Inc. 3,649,348 55,653
  CoreCivic Inc. 2,833,347 55,307
*,^ BofI Holding Inc. 1,346,388 54,569
  Rexford Industrial Realty Inc. 1,878,859 54,092
  BOK Financial Corp. 546,427 54,091
  Kennedy-Wilson Holdings Inc. 3,081,104 53,611
* OneMain Holdings Inc. 1,790,314 53,602
  Financial Engines Inc. 1,511,182 52,891
  Kemper Corp. 923,014 52,612
  International Bancshares Corp. 1,345,159 52,327
  Urban Edge Properties 2,447,826 52,261
  Apollo Commercial Real Estate Finance Inc. 2,897,896 52,104
  DDR Corp. 7,062,219 51,766
* FCB Financial Holdings Inc. Class A 1,012,128 51,720
  PS Business Parks Inc. 455,518 51,492
  Washington REIT 1,880,105 51,327
  Xenia Hotels & Resorts Inc. 2,551,553 50,317
  DiamondRock Hospitality Co. 4,801,317 50,126
^ Tanger Factory Outlet Centers Inc. 2,261,414 49,751
* Enstar Group Ltd. 235,964 49,611
  Acadia Realty Trust 2,005,410 49,333
  First Merchants Corp. 1,176,383 49,055
  Moelis & Co. Class A 954,983 48,561
  Trustmark Corp. 1,540,489 48,002
  Renasant Corp. 1,119,668 47,653
* HRG Group Inc. 2,888,107 47,625
  Retail Opportunity Investments Corp. 2,694,126 47,605
  Independent Bank Corp. 656,496 46,972
  LegacyTexas Financial Group Inc. 1,094,637 46,872
* Eagle Bancorp Inc. 777,879 46,556
  Ameris Bancorp 870,033 46,025
  Argo Group International Holdings Ltd. 775,977 44,541
  Towne Bank 1,551,611 44,376
  ServisFirst Bancshares Inc. 1,077,153 43,969
  Invesco Mortgage Capital Inc. 2,667,484 43,693
  HFF Inc. Class A 878,874 43,680

 

 

* Quality Care Properties Inc. 2,243,724 43,596
Terreno Realty Corp. 1,261,217 43,525
Banner Corp. 784,044 43,507
WesBanco Inc. 1,001,147 42,349
Santander Consumer USA Holdings Inc. 2,585,141 42,138
Horace Mann Educators Corp. 974,017 41,639
Lexington Realty Trust 5,170,340 40,691
Hilltop Holdings Inc. 1,723,123 40,424
Walker & Dunlop Inc. 668,667 39,732
* PRA Group Inc. 1,024,722 38,939
Capitol Federal Financial Inc. 3,143,588 38,823
Artisan Partners Asset Management Inc. Class A 1,164,470 38,777
Virtu Financial Inc. Class A 1,173,546 38,727
First Hawaiian Inc. 1,383,874 38,513
Waddell & Reed Financial Inc. Class A 1,898,998 38,379
Chesapeake Lodging Trust 1,370,217 38,106
Alexander & Baldwin Inc. 1,638,679 37,903
QTS Realty Trust Inc. Class A 1,030,261 37,316
^ Colony Northstar Credit Real Estate Inc. Class A 1,959,289 37,129
Provident Financial Services Inc. 1,432,755 36,664
Northwest Bancshares Inc. 2,211,281 36,619
LTC Properties Inc. 948,807 36,055
NBT Bancorp Inc. 989,188 35,096
Berkshire Hills Bancorp Inc. 920,309 34,926
Westamerica Bancorporation 598,046 34,734
Navigators Group Inc. 600,013 34,591
National General Holdings Corp. 1,403,400 34,117
* FGL Holdings 3,331,347 33,813
* Genworth Financial Inc. Class A 11,939,825 33,790
First Commonwealth Financial Corp. 2,329,025 32,909
Houlihan Lokey Inc. Class A 731,737 32,635
Government Properties Income Trust 2,380,022 32,511
VICI Properties Inc. 1,767,324 32,377
Mack-Cali Realty Corp. 1,936,897 32,366
Park National Corp. 311,102 32,280
S&T Bancorp Inc. 794,862 31,747
AmTrust Financial Services Inc. 2,578,592 31,742
* LendingClub Corp. 8,981,718 31,436
* Third Point Reinsurance Ltd. 2,183,160 30,455
Mercury General Corp. 661,824 30,358
Boston Private Financial Holdings Inc. 2,009,159 30,238
Kite Realty Group Trust 1,985,201 30,235
* Cannae Holdings Inc. 1,600,950 30,194
American Assets Trust Inc. 900,183 30,075
Employers Holdings Inc. 736,132 29,777
* First BanCorp 4,927,148 29,661
Washington Prime Group Inc. 4,440,638 29,619
Infinity Property & Casualty Corp. 249,213 29,507
Select Income REIT 1,495,223 29,127
Ladder Capital Corp. Class A 1,921,468 28,976
Piper Jaffray Cos. 343,866 28,558
Redwood Trust Inc. 1,844,388 28,533
First Interstate BancSystem Inc. Class A 718,198 28,405
Brookline Bancorp Inc. 1,740,806 28,201
Union Bankshares Corp. 763,439 28,026
Global Net Lease Inc. 1,614,790 27,258
State Bank Financial Corp. 886,759 26,612

 

 

  Safety Insurance Group Inc. 345,658 26,564
* Encore Capital Group Inc. 584,907 26,438
  Tompkins Financial Corp. 346,428 26,245
  WisdomTree Investments Inc. 2,793,933 25,620
  NRG Yield Inc. 1,501,709 25,529
  Beneficial Bancorp Inc. 1,629,911 25,345
  PennyMac Mortgage Investment Trust 1,390,647 25,073
  CYS Investments Inc. 3,700,795 24,869
  CareTrust REIT Inc. 1,820,566 24,396
  City Holding Co. 354,776 24,323
  ARMOUR Residential REIT Inc. 1,001,249 23,309
  National Bank Holdings Corp. Class A 689,755 22,934
  United Fire Group Inc. 475,700 22,767
  American National Insurance Co. 192,619 22,529
  Ramco-Gershenson Properties Trust 1,815,156 22,435
  BancFirst Corp. 419,351 22,268
  Kearny Financial Corp. 1,703,375 22,144
^ Seritage Growth Properties Class A 619,424 22,021
* Pacific Premier Bancorp Inc. 528,154 21,232
*,^ Redfin Corp. 900,791 20,565
  Franklin Street Properties Corp. 2,427,768 20,418
  TPG RE Finance Trust Inc. 1,023,520 20,358
  Cohen & Steers Inc. 499,139 20,295
  Virtus Investment Partners Inc. 163,329 20,220
  TFS Financial Corp. 1,341,657 19,709
  MTGE Investment Corp. 1,093,266 19,569
  Central Pacific Financial Corp. 683,877 19,463
  Americold Realty Trust 1,016,730 19,399
*,^ MBIA Inc. 2,093,867 19,389
  Capstead Mortgage Corp. 2,231,757 19,305
  Cadence BanCorp Class A 700,945 19,087
  Getty Realty Corp. 755,629 19,057
  Alexander's Inc. 48,905 18,644
  InfraREIT Inc. 940,989 18,283
  Universal Health Realty Income Trust 294,486 17,699
* Flagstar Bancorp Inc. 480,360 17,005
  Summit Hotel Properties Inc. 1,244,867 16,943
  FBL Financial Group Inc. Class A 238,641 16,550
  Nelnet Inc. Class A 314,711 16,494
* St. Joe Co. 872,034 16,438
  National Western Life Group Inc. Class A 53,555 16,328
  Granite Point Mortgage Trust Inc. 981,901 16,241
  Hersha Hospitality Trust Class A 905,183 16,203
^ CBL & Associates Properties Inc. 3,882,501 16,190
* iStar Inc. 1,552,221 15,786
  Northfield Bancorp Inc. 992,776 15,497
^ Pennsylvania REIT 1,594,934 15,391
  New Senior Investment Group Inc. 1,860,210 15,216
  Investors Real Estate Trust 2,856,401 14,825
* Marcus & Millichap Inc. 410,937 14,818
  Saul Centers Inc. 289,820 14,772
  Investment Technology Group Inc. 742,430 14,656
  NRG Yield Inc. Class A 881,971 14,500
  Oritani Financial Corp. 939,813 14,426
  Independent Bank Group Inc. 202,486 14,316
  Ashford Hospitality Trust Inc. 2,208,633 14,268
  Urstadt Biddle Properties Inc. Class A 726,054 14,013

 

 

  Dime Community Bancshares Inc. 715,930 13,173
* Nationstar Mortgage Holdings Inc. 700,130 12,574
  AG Mortgage Investment Trust Inc. 674,569 11,717
  KKR Real Estate Finance Trust Inc. 581,155 11,658
  State Auto Financial Corp. 404,983 11,570
* PennyMac Financial Services Inc. Class A 506,200 11,465
* World Acceptance Corp. 108,837 11,461
  RMR Group Inc. Class A 163,693 11,450
* Greenlight Capital Re Ltd. Class A 706,658 11,342
  Anworth Mortgage Asset Corp. 2,340,654 11,235
  Maiden Holdings Ltd. 1,718,255 11,169
  OFG Bancorp 1,049,580 10,968
* Ocwen Financial Corp. 2,655,406 10,940
  Front Yard Residential Corp. 1,080,761 10,862
* Tejon Ranch Co. 433,155 10,010
* Industrial Logistics Properties Trust 477,554 9,713
  Hamilton Lane Inc. Class A 243,525 9,066
^ Greenhill & Co. Inc. 469,432 8,684
*,^ New York REIT Inc. 401,571 8,638
* Ambac Financial Group Inc. 518,023 8,123
* Newmark Group Inc. Class A 498,981 7,580
* EZCORP Inc. Class A 552,022 7,287
*,^ Altisource Portfolio Solutions SA 230,061 6,110
* MoneyGram International Inc. 653,587 5,634
*,^ Forestar Group Inc. 252,650 5,344
^ Associated Capital Group Inc. Class A 105,797 3,962
* On Deck Capital Inc. 683,447 3,820
*,^ Longfin Corp. 206,485 3,564
  GAMCO Investors Inc. Class A 108,464 2,693
  Urstadt Biddle Properties Inc. 99,452 1,687
* Victory Capital Holdings Inc. Class A 126,250 1,553
* Bridgewater Bancshares Inc. 24,665 322
      20,946,746
Health Care (10.2%)    
* WellCare Health Plans Inc. 1,065,239 206,262
* Bluebird Bio Inc. 1,195,509 204,133
* Nektar Therapeutics Class A 1,918,238 203,832
  STERIS plc 2,029,298 189,455
* Neurocrine Biosciences Inc. 2,134,801 177,039
* Sage Therapeutics Inc. 1,040,100 167,529
  West Pharmaceutical Services Inc. 1,776,068 156,809
* Exelixis Inc. 7,075,461 156,721
* DexCom Inc. 2,078,368 154,132
* ABIOMED Inc. 503,391 146,482
  Teleflex Inc. 553,585 141,153
  Hill-Rom Holdings Inc. 1,583,034 137,724
  Bio-Techne Corp. 896,063 135,341
* Ionis Pharmaceuticals Inc. 2,984,123 131,540
* Catalent Inc. 3,189,058 130,943
  Encompass Health Corp. 2,233,978 127,717
* Bio-Rad Laboratories Inc. Class A 501,050 125,303
* MEDNAX Inc. 2,244,085 124,838
* Charles River Laboratories International Inc. 1,134,256 121,070
* Insulet Corp. 1,396,331 121,034
* Exact Sciences Corp. 2,892,003 116,634
* Envision Healthcare Corp. 2,893,293 111,189
* United Therapeutics Corp. 982,894 110,438

 

 

* Sarepta Therapeutics Inc. 1,470,130 108,922
* Molina Healthcare Inc. 1,291,285 104,827
* PRA Health Sciences Inc. 1,221,872 101,366
* Masimo Corp. 1,112,058 97,805
* Agios Pharmaceuticals Inc. 1,166,842 95,424
  Cantel Medical Corp. 850,161 94,716
* Haemonetics Corp. 1,278,026 93,500
* ICU Medical Inc. 361,202 91,167
* Blueprint Medicines Corp. 941,925 86,375
* Penumbra Inc. 730,642 84,499
* Integra LifeSciences Holdings Corp. 1,501,778 83,108
* Globus Medical Inc. 1,646,587 82,033
* FibroGen Inc. 1,771,576 81,847
* Array BioPharma Inc. 4,963,282 81,001
* Avexis Inc. 655,302 80,982
* Ligand Pharmaceuticals Inc. 480,252 79,318
* Neogen Corp. 1,171,021 78,447
* Acadia Healthcare Co. Inc. 1,999,388 78,336
  Bruker Corp. 2,418,932 72,374
  Healthcare Services Group Inc. 1,664,537 72,374
* Loxo Oncology Inc. 609,473 70,315
* Amicus Therapeutics Inc. 4,445,471 66,860
* Syneos Health Inc. 1,871,939 66,454
* Seattle Genetics Inc. 1,229,747 64,365
* NuVasive Inc. 1,218,537 63,620
* Magellan Health Inc. 575,152 61,599
* Clovis Oncology Inc. 1,115,298 58,888
* Tenet Healthcare Corp. 2,414,129 58,543
* Ultragenyx Pharmaceutical Inc. 1,128,990 57,567
* Halozyme Therapeutics Inc. 2,912,610 57,058
* Horizon Pharma plc 3,926,033 55,750
* ACADIA Pharmaceuticals Inc. 2,380,685 53,494
* Supernus Pharmaceuticals Inc. 1,165,524 53,381
* Global Blood Therapeutics Inc. 1,098,765 53,070
* Emergent BioSolutions Inc. 1,005,671 52,949
* Nevro Corp. 606,451 52,561
* TESARO Inc. 911,902 52,106
* Puma Biotechnology Inc. 762,808 51,909
* Medicines Co. 1,571,984 51,781
* Merit Medical Systems Inc. 1,140,619 51,727
* Halyard Health Inc. 1,120,440 51,630
* Portola Pharmaceuticals Inc. 1,563,682 51,070
* Ironwood Pharmaceuticals Inc. Class A 3,279,734 50,606
* Spark Therapeutics Inc. 755,445 50,305
* Wright Medical Group NV 2,533,540 50,265
*,^ Teladoc Inc. 1,232,445 49,668
* Myriad Genetics Inc. 1,672,209 49,414
* Inogen Inc. 399,174 49,035
* Aerie Pharmaceuticals Inc. 900,845 48,871
* Arena Pharmaceuticals Inc. 1,145,332 45,241
* LifePoint Health Inc. 944,477 44,390
* Select Medical Holdings Corp. 2,539,433 43,805
  Patterson Cos. Inc. 1,933,119 42,973
* Prestige Brands Holdings Inc. 1,269,382 42,804
* Akorn Inc. 2,247,260 42,046
* Amedisys Inc. 689,459 41,602
* Insmed Inc. 1,834,061 41,303

 

 

* LHC Group Inc. 642,164 39,532
* NxStage Medical Inc. 1,586,468 39,440
  CONMED Corp. 601,044 38,064
* Tivity Health Inc. 948,516 37,609
  Abaxis Inc. 515,433 36,400
* Quidel Corp. 690,830 35,792
* Novocure Ltd. 1,611,601 35,133
* AnaptysBio Inc. 336,806 35,055
* Spectrum Pharmaceuticals Inc. 2,165,266 34,839
*,^ Radius Health Inc. 962,208 34,582
* Impax Laboratories Inc. 1,769,750 34,422
* HMS Holdings Corp. 2,016,374 33,956
*,^ Mallinckrodt plc 2,274,977 32,942
* Varex Imaging Corp. 903,237 32,318
* Momenta Pharmaceuticals Inc. 1,733,489 31,463
  Ensign Group Inc. 1,169,213 30,750
* Aimmune Therapeutics Inc. 955,701 30,420
* Innoviva Inc. 1,803,925 30,071
* Brookdale Senior Living Inc. 4,459,344 29,922
  Analogic Corp. 299,814 28,752
*,^ Editas Medicine Inc. 867,296 28,751
* Pacira Pharmaceuticals Inc. 920,196 28,664
* Endo International plc 4,803,155 28,531
* Acorda Therapeutics Inc. 1,116,076 26,395
*,^ Intercept Pharmaceuticals Inc. 420,308 25,857
*,^ Intrexon Corp. 1,680,687 25,765
*,^ OPKO Health Inc. 8,014,725 25,407
* Orthofix International NV 413,949 24,332
*,^ Theravance Biopharma Inc. 969,289 23,505
*,^ Immunomedics Inc. 1,584,200 23,145
  Owens & Minor Inc. 1,463,784 22,762
* Epizyme Inc. 1,241,177 22,031
* Intra-Cellular Therapies Inc. 1,043,750 21,971
*,^ Glaukos Corp. 703,241 21,681
  Luminex Corp. 1,000,662 21,084
* Esperion Therapeutics Inc. 284,459 20,575
* Corcept Therapeutics Inc. 1,227,261 20,188
* Alder Biopharmaceuticals Inc. 1,539,665 19,554
* Sangamo Therapeutics Inc. 1,009,733 19,185
* Kindred Healthcare Inc. 2,077,036 19,005
* Omnicell Inc. 433,198 18,801
* Acceleron Pharma Inc. 458,089 17,911
* Repligen Corp. 470,457 17,021
* AMAG Pharmaceuticals Inc. 843,820 17,003
* MyoKardia Inc. 320,008 15,616
  HealthStream Inc. 609,288 15,129
* Genomic Health Inc. 459,082 14,365
  Meridian Bioscience Inc. 1,009,546 14,336
* PTC Therapeutics Inc. 520,711 14,090
  Invacare Corp. 783,893 13,640
* Foundation Medicine Inc. 172,820 13,610
*,^ Lannett Co. Inc. 812,701 13,044
  National HealthCare Corp. 215,836 12,870
*,^ Intellia Therapeutics Inc. 606,775 12,797
* Natus Medical Inc. 353,161 11,884
* Achillion Pharmaceuticals Inc. 3,143,279 11,662
* CorVel Corp. 225,304 11,389

 

 

*,^ Community Health Systems Inc. 2,603,136 10,308
*,^ Synergy Pharmaceuticals Inc. 5,628,491 10,300
* PDL BioPharma Inc. 3,491,769 10,266
*,^ TherapeuticsMD Inc. 2,065,202 10,058
* Accuray Inc. 1,931,899 9,659
*,^ Aduro Biotech Inc. 1,023,270 9,516
*,^ MiMedx Group Inc. 1,256,382 8,757
*,^ Keryx Biopharmaceuticals Inc. 2,125,175 8,692
*,^ Lexicon Pharmaceuticals Inc. 1,000,947 8,578
*,^ Akcea Therapeutics Inc. 317,113 8,121
*,^ Surgery Partners Inc. 465,915 7,990
* Medpace Holdings Inc. 211,234 7,374
* Natera Inc. 765,122 7,093
* Five Prime Therapeutics Inc. 389,624 6,694
*,^ Denali Therapeutics Inc. 332,133 6,540
*,^ ZIOPHARM Oncology Inc. 1,514,400 5,936
* American Renal Associates Holdings Inc. 300,277 5,660
* Depomed Inc. 672,744 4,433
*,^ Insys Therapeutics Inc. 697,159 4,211
* Endologix Inc. 945,782 4,001
*,^ Seres Therapeutics Inc. 477,082 3,502
*,^ NantKwest Inc. 279,413 1,087
* Unum Therapeutics Inc. 93,644 1,040
* Bioxcel Therapeutics Inc. 72,050 738
*,^ Evolus Inc. 51,689 467
* ARMO BioSciences Inc. 12,471 467
* Arcus Biosciences Inc. 13,031 201
* Homology Medicines Inc. 5,214 97
* Alnylam Pharmaceuticals Inc. 54 6
* Celldex Therapeutics Inc. 660 2
      8,651,576
Industrials (20.1%)    
  IDEX Corp. 1,830,097 260,807
* TransUnion 4,391,324 249,339
  Old Dominion Freight Line Inc. 1,674,762 246,140
* Keysight Technologies Inc. 4,484,571 234,947
  Spirit AeroSystems Holdings Inc. Class A 2,740,152 229,351
  Jack Henry & Associates Inc. 1,848,164 223,535
  AO Smith Corp. 3,478,247 221,182
  PerkinElmer Inc. 2,636,356 199,625
  Allegion plc 2,276,661 194,176
  Lennox International Inc. 935,632 191,215
  Graco Inc. 4,052,931 185,300
  Orbital ATK Inc. 1,382,702 183,360
* Zebra Technologies Corp. 1,273,396 177,244
* Berry Global Group Inc. 3,137,501 171,966
  Nordson Corp. 1,244,042 169,613
* WEX Inc. 1,029,056 161,171
* HD Supply Holdings Inc. 4,240,073 160,868
  Carlisle Cos. Inc. 1,477,776 154,295
  Broadridge Financial Solutions Inc. 1,395,585 153,082
  Toro Co. 2,435,463 152,095
  BWX Technologies Inc. 2,376,809 150,999
* Teledyne Technologies Inc. 805,355 150,738
  Knight-Swift Transportation Holdings Inc. 3,190,478 146,794
* XPO Logistics Inc. 1,434,192 146,015
  National Instruments Corp. 2,823,320 142,775

 

 

Donaldson Co. Inc. 3,107,322 139,985
Hexcel Corp. 2,149,206 138,817
Oshkosh Corp. 1,785,304 137,950
* AECOM 3,808,451 135,695
Lincoln Electric Holdings Inc. 1,494,124 134,396
AptarGroup Inc. 1,489,433 133,796
Watsco Inc. 730,363 132,174
MDU Resources Group Inc. 4,676,055 131,678
Curtiss-Wright Corp. 950,053 128,324
Booz Allen Hamilton Holding Corp. Class A 3,299,892 127,772
Packaging Corp. of America 1,128,909 127,228
* Quanta Services Inc. 3,700,794 127,122
Avnet Inc. 2,867,136 119,732
Genpact Ltd. 3,691,686 118,097
Trinity Industries Inc. 3,606,676 117,686
Littelfuse Inc. 563,831 117,378
Sonoco Products Co. 2,378,866 115,375
Jabil Inc. 3,985,481 114,503
Eagle Materials Inc. 1,106,922 114,068
Graphic Packaging Holding Co. 7,413,585 113,799
Crane Co. 1,207,424 111,977
* Coherent Inc. 594,225 111,358
Landstar System Inc. 1,004,115 110,101
EMCOR Group Inc. 1,397,653 108,919
AGCO Corp. 1,619,453 105,022
* Genesee & Wyoming Inc. Class A 1,474,833 104,403
MAXIMUS Inc. 1,562,223 104,263
ITT Inc. 2,111,409 103,417
Cognex Corp. 1,973,656 102,610
Universal Display Corp. 1,012,429 102,255
Air Lease Corp. Class A 2,354,681 100,357
Louisiana-Pacific Corp. 3,466,215 99,723
MSC Industrial Direct Co. Inc. Class A 1,079,031 98,958
* Kirby Corp. 1,284,939 98,876
* On Assignment Inc. 1,182,797 96,847
Woodward Inc. 1,320,439 94,623
Bemis Co. Inc. 2,174,119 94,618
* Euronet Worldwide Inc. 1,198,816 94,611
Ryder System Inc. 1,267,562 92,266
* CoreLogic Inc. 1,971,023 89,149
* Conduent Inc. 4,779,623 89,092
* KLX Inc. 1,205,199 85,641
John Bean Technologies Corp. 755,075 85,626
Deluxe Corp. 1,151,411 85,216
^ HEICO Corp. 980,731 85,137
* Owens-Illinois Inc. 3,906,161 84,607
FLIR Systems Inc. 1,658,718 82,953
Brink's Co. 1,147,111 81,846
* USG Corp. 2,023,254 81,780
* Summit Materials Inc. Class A 2,640,642 79,959
* Cimpress NV 513,119 79,380
HEICO Corp. Class A 1,107,573 78,582
Kennametal Inc. 1,955,145 78,519
Regal Beloit Corp. 1,059,812 77,737
Timken Co. 1,679,632 76,591
* Trex Co. Inc. 703,987 76,573
Valmont Industries Inc. 514,347 75,249

 

 

* MasTec Inc. 1,585,822 74,613
* Rexnord Corp. 2,490,824 73,928
Barnes Group Inc. 1,210,543 72,499
* Proto Labs Inc. 605,457 71,171
* WESCO International Inc. 1,127,354 69,952
EnerSys 1,003,928 69,642
Belden Inc. 1,004,714 69,265
Terex Corp. 1,844,118 68,988
* RBC Bearings Inc. 551,765 68,529
* Generac Holdings Inc. 1,492,472 68,519
MSA Safety Inc. 823,012 68,508
Flowserve Corp. 1,560,463 67,615
Applied Industrial Technologies Inc. 926,242 67,523
Korn/Ferry International 1,283,606 66,221
Tetra Tech Inc. 1,336,402 65,417
* TopBuild Corp. 852,163 65,208
* AMN Healthcare Services Inc. 1,141,995 64,808
Maxar Technologies Ltd. 1,345,387 62,224
GATX Corp. 908,471 62,221
Insperity Inc. 893,317 62,130
* Colfax Corp. 1,922,009 61,312
* Armstrong World Industries Inc. 1,079,949 60,801
* Moog Inc. Class A 735,960 60,650
UniFirst Corp. 370,878 59,952
* Stericycle Inc. 1,023,151 59,885
* Clean Harbors Inc. 1,226,199 59,851
Vishay Intertechnology Inc. 3,162,481 58,822
Simpson Manufacturing Co. Inc. 1,019,768 58,728
* Itron Inc. 787,254 56,328
* II-VI Inc. 1,345,044 55,012
KBR Inc. 3,352,728 54,281
* Builders FirstSource Inc. 2,702,900 53,626
Granite Construction Inc. 955,508 53,375
ABM Industries Inc. 1,571,303 52,607
* Rogers Corp. 437,206 52,264
* Esterline Technologies Corp. 711,350 52,035
Watts Water Technologies Inc. Class A 663,137 51,526
Silgan Holdings Inc. 1,846,861 51,435
* Anixter International Inc. 676,589 51,252
* Gardner Denver Holdings Inc. 1,643,704 50,429
* JELD-WEN Holding Inc. 1,639,620 50,205
Convergys Corp. 2,196,647 49,688
Exponent Inc. 617,336 48,553
* Plexus Corp. 806,666 48,182
* SPX FLOW Inc. 965,311 47,484
* TriNet Group Inc. 997,081 46,185
Mobile Mini Inc. 1,061,059 46,156
* Aerojet Rocketdyne Holdings Inc. 1,615,959 45,198
Universal Forest Products Inc. 1,392,138 45,175
* Meritor Inc. 2,132,031 43,835
Albany International Corp. 692,372 43,412
* FTI Consulting Inc. 895,848 43,368
* ExlService Holdings Inc. 771,972 43,053
* WageWorks Inc. 948,550 42,874
* Integer Holdings Corp. 757,498 42,837
* Sanmina Corp. 1,621,711 42,408
* Masonite International Corp. 680,306 41,737

 

 

* Floor & Decor Holdings Inc. Class A 796,442 41,511
Kaman Corp. 665,759 41,357
* Navistar International Corp. 1,180,349 41,277
Mueller Water Products Inc. Class A 3,795,707 41,259
Otter Tail Corp. 948,843 41,132
Schneider National Inc. Class B 1,571,182 40,945
Covanta Holding Corp. 2,818,751 40,872
Brady Corp. Class A 1,096,180 40,723
* Harsco Corp. 1,924,127 39,733
World Fuel Services Corp. 1,616,147 39,676
EnPro Industries Inc. 510,435 39,497
Franklin Electric Co. Inc. 947,143 38,596
Triton International Ltd. 1,255,852 38,429
Werner Enterprises Inc. 1,041,135 38,001
Forward Air Corp. 711,801 37,626
Cubic Corp. 586,348 37,292
* Ambarella Inc. 757,004 37,086
* Atlas Air Worldwide Holdings Inc. 608,418 36,779
AAON Inc. 939,854 36,654
Comfort Systems USA Inc. 887,475 36,608
Sun Hydraulics Corp. 682,834 36,573
Macquarie Infrastructure Corp. 966,170 35,681
* Paylocity Holding Corp. 694,455 35,577
Boise Cascade Co. 921,472 35,569
Benchmark Electronics Inc. 1,190,793 35,545
Chicago Bridge & Iron Co. NV 2,447,944 35,250
AAR Corp. 789,685 34,833
Greenbrier Cos. Inc. 688,564 34,600
ManTech International Corp. Class A 622,825 34,548
ESCO Technologies Inc. 587,022 34,370
Mueller Industries Inc. 1,313,421 34,359
* Cotiviti Holdings Inc. 996,644 34,324
General Cable Corp. 1,150,125 34,044
Methode Electronics Inc. 869,036 33,979
* Imperva Inc. 774,679 33,544
* TTM Technologies Inc. 2,189,839 33,483
Actuant Corp. Class A 1,439,273 33,463
* Milacron Holdings Corp. 1,660,113 33,435
Altra Industrial Motion Corp. 699,727 32,152
Greif Inc. Class A 609,974 31,871
* Hub Group Inc. Class A 759,842 31,799
* SPX Corp. 971,770 31,563
* Air Transport Services Group Inc. 1,342,451 31,306
Badger Meter Inc. 660,329 31,135
* Advanced Disposal Services Inc. 1,376,147 30,661
Raven Industries Inc. 854,766 29,960
Apogee Enterprises Inc. 681,409 29,539
H&E Equipment Services Inc. 766,807 29,514
McGrath RentCorp 546,006 29,315
Standex International Corp. 306,599 29,234
* TriMas Corp. 1,092,762 28,685
Triumph Group Inc. 1,127,265 28,407
* OSI Systems Inc. 433,367 28,286
* Sykes Enterprises Inc. 975,718 28,237
Wabash National Corp. 1,339,110 27,867
Matson Inc. 964,159 27,614
Astec Industries Inc. 498,215 27,492

 

 

  Tennant Co. 405,325 27,441
  AZZ Inc. 620,200 27,103
* Knowles Corp. 2,146,859 27,029
  Encore Wire Corp. 472,503 26,791
  Aircastle Ltd. 1,314,991 26,116
* Continental Building Products Inc. 903,386 25,792
* TrueBlue Inc. 988,599 25,605
  Materion Corp. 481,228 24,567
  Primoris Services Corp. 981,843 24,526
* Cardtronics plc Class A 1,092,983 24,384
* GMS Inc. 786,945 24,049
*,^ Axon Enterprise Inc. 599,497 23,566
* Aerovironment Inc. 514,923 23,434
* FARO Technologies Inc. 401,229 23,432
  Lindsay Corp. 255,977 23,407
  EVERTEC Inc. 1,383,370 22,618
  MTS Systems Corp. 428,707 22,143
*,^ Evolent Health Inc. Class A 1,517,448 21,624
  Manitowoc Co. Inc. 756,732 21,537
* Navigant Consulting Inc. 1,098,783 21,141
* Tutor Perini Corp. 950,754 20,964
  Advanced Drainage Systems Inc. 806,011 20,876
^ Sturm Ruger & Co. Inc. 395,164 20,746
  Kelly Services Inc. Class A 711,264 20,655
* Huron Consulting Group Inc. 528,827 20,148
  AVX Corp. 1,206,272 19,964
  Schnitzer Steel Industries Inc. 612,673 19,820
  Heartland Express Inc. 1,094,318 19,687
* Veeco Instruments Inc. 1,151,209 19,571
  Quad/Graphics Inc. 743,128 18,838
* Atkore International Group Inc. 941,293 18,685
  ArcBest Corp. 581,845 18,648
* American Woodmark Corp. 187,823 18,491
* Gates Industrial Corp. plc 1,040,175 18,213
*,^ MACOM Technology Solutions Holdings Inc. 1,077,184 17,881
* Thermon Group Holdings Inc. 774,476 17,356
  CIRCOR International Inc. 402,445 17,168
* Aegion Corp. Class A 736,428 16,872
  Griffon Corp. 849,398 15,502
  Kforce Inc. 569,467 15,404
*,^ Inovalon Holdings Inc. Class A 1,439,728 15,261
* Installed Building Products Inc. 248,313 14,911
  RR Donnelley & Sons Co. 1,673,345 14,608
  Gorman-Rupp Co. 498,621 14,585
  Quanex Building Products Corp. 836,592 14,557
  REV Group Inc. 693,704 14,401
* Donnelley Financial Solutions Inc. 804,670 13,816
  LSC Communications Inc. 790,619 13,796
  Hyster-Yale Materials Handling Inc. 195,121 13,645
* Wesco Aircraft Holdings Inc. 1,303,644 13,362
* American Outdoor Brands Corp. 1,291,344 13,327
* TimkenSteel Corp. 850,329 12,917
  RPX Corp. 1,131,078 12,091
  Resources Connection Inc. 713,689 11,562
* Ply Gem Holdings Inc. 488,947 10,561
* InnerWorkings Inc. 1,117,636 10,115
  TTEC Holdings Inc. 328,994 10,100

 

 

*,^ Team Inc. 679,116 9,338
  Greif Inc. Class B 151,520 8,826
* Astronics Corp. 214,320 7,994
* Mistras Group Inc. 406,462 7,698
  American Railcar Industries Inc. 182,661 6,833
* Armstrong Flooring Inc. 488,888 6,634
* International Seaways Inc. 258,734 4,554
  Park Electrochemical Corp. 233,340 3,929
* PHH Corp. 373,717 3,909
*,^ Forterra Inc. 274,386 2,283
* Astronics Corp. Class B 40,088 1,482
* Cardlytics Inc. 31,662 463
  Huntington Ingalls Industries Inc. 27 7
  Essendant Inc. 173 1
* Babcock & Wilcox Enterprises Inc. 273 1
* Dorian LPG Ltd. 20 —
      16,956,778
Oil & Gas (4.6%)    
* Parsley Energy Inc. Class A 5,731,044 166,143
* Diamondback Energy Inc. 1,174,682 148,621
* Energen Corp. 2,324,082 146,092
* RSP Permian Inc. 3,034,156 142,241
* WPX Energy Inc. 9,523,265 140,754
* First Solar Inc. 1,873,122 132,954
* Newfield Exploration Co. 4,782,016 116,777
  Targa Resources Corp. 2,619,087 115,240
  Core Laboratories NV 1,056,845 114,372
  HollyFrontier Corp. 2,120,461 103,606
*,^ Transocean Ltd. 10,437,270 103,329
  Murphy Oil Corp. 3,925,411 101,433
  Patterson-UTI Energy Inc. 5,322,537 93,198
  Range Resources Corp. 5,931,722 86,247
  PBF Energy Inc. Class A 2,499,304 84,726
  Helmerich & Payne Inc. 1,237,459 82,365
* Centennial Resource Development Inc. Class A 4,355,513 79,924
* PDC Energy Inc. 1,576,813 77,311
  Delek US Holdings Inc. 1,811,418 73,725
* Whiting Petroleum Corp. 2,168,364 73,377
* Matador Resources Co. 2,208,427 66,054
* Callon Petroleum Co. 4,834,398 64,007
*,^ Chesapeake Energy Corp. 20,677,695 62,447
* Oasis Petroleum Inc. 7,536,429 61,045
* Southwestern Energy Co. 14,039,950 60,793
* QEP Resources Inc. 5,758,091 56,372
*,^ Weatherford International plc 23,779,153 54,454
* SRC Energy Inc. 5,735,994 54,090
* CNX Resources Corp. 3,477,920 53,664
  Nabors Industries Ltd. 7,232,661 50,556
  SM Energy Co. 2,673,273 48,199
  Ensco plc Class A 10,441,767 45,839
  Oceaneering International Inc. 2,352,604 43,617
* Chart Industries Inc. 735,999 43,446
* McDermott International Inc. 6,798,986 41,406
* Dril-Quip Inc. 906,891 40,629
  SemGroup Corp. Class A 1,886,264 40,366
* C&J Energy Services Inc. 1,476,846 38,132
* Gulfport Energy Corp. 3,951,159 38,129

 

 

  Pattern Energy Group Inc. Class A 2,107,566 36,440
* Oil States International Inc. 1,368,436 35,853
* Rowan Cos. plc Class A 3,026,566 34,927
* MRC Global Inc. 2,080,382 34,202
* Laredo Petroleum Inc. 3,767,644 32,816
* Superior Energy Services Inc. 3,696,474 31,161
* Carrizo Oil & Gas Inc. 1,849,707 29,595
* Extraction Oil & Gas Inc. 2,475,644 28,371
^ RPC Inc. 1,558,418 28,098
*,^ NOW Inc. 2,593,185 26,502
* Denbury Resources Inc. 9,613,185 26,340
* Unit Corp. 1,262,525 24,948
* ProPetro Holding Corp. 1,488,554 23,653
* Noble Corp. plc 5,857,706 21,732
* Exterran Corp. 810,941 21,652
*,^ Diamond Offshore Drilling Inc. 1,473,940 21,608
* Forum Energy Technologies Inc. 1,936,405 21,300
* Alta Mesa Resources Inc. 2,570,510 20,564
* SEACOR Holdings Inc. 383,056 19,574
* Ultra Petroleum Corp. 4,692,301 19,567
* Helix Energy Solutions Group Inc. 3,348,575 19,388
*,^ Jagged Peak Energy Inc. 1,277,571 18,052
* Cactus Inc. 629,667 16,957
* Keane Group Inc. 1,074,768 15,907
* Newpark Resources Inc. 1,943,235 15,740
  Archrock Inc. 1,691,063 14,797
*,^ Tellurian Inc. 1,879,122 13,548
  CVR Energy Inc. 414,445 12,525
*,^ SunPower Corp. Class A 1,512,595 12,071
* FTS International Inc. 651,450 11,980
*,^ WildHorse Resource Development Corp. 602,376 11,499
  Green Plains Inc. 464,538 7,804
*,^ Liberty Oilfield Services Inc. Class A 332,719 5,620
* TETRA Technologies Inc. 1,304,258 4,891
* NCS Multistage Holdings Inc. 207,698 3,116
*,^ EP Energy Corp. Class A 899,401 1,205
* NextDecade Corp. 195,004 963
* Eclipse Resources Corp. 504,673 727
* Quintana Energy Services Inc. 31,638 309
* Sanchez Energy Corp. 352 1
      3,871,683
Other (0.0%)2    
*,3 Dyax Corp. CVR Exp. 12/31/2019 2,940,655 5,881
*,3 Herbalife Ltd. CVR 228,911 2,221
*,3 NewStar Financial Inc. CVR 651,238 321
*,3 Media General Inc. CVR 2,475,062 96
*,3 Babcock & Wilcox Enterprises Inc. Rights Exp. 04/10/2018 698 1
*,3 Clinical Data CVR 297,875 —
      8,520
Technology (12.5%)    
  CDW Corp. 3,661,087 257,411
* ON Semiconductor Corp. 10,173,897 248,854
  Leidos Holdings Inc. 3,611,794 236,211
  SS&C Technologies Holdings Inc. 4,186,986 224,590
* PTC Inc. 2,782,498 217,063
  Teradyne Inc. 4,690,064 214,383

 

 

* GoDaddy Inc. Class A 3,165,217 194,408
* Veeva Systems Inc. Class A 2,647,163 193,296
* Fortinet Inc. 3,540,559 189,703
* CommScope Holding Co. Inc. 4,566,155 182,509
* Tyler Technologies Inc. 862,526 181,958
* Microsemi Corp. 2,810,344 181,885
* Ultimate Software Group Inc. 679,100 165,497
  CSRA Inc. 3,921,021 161,664
  MKS Instruments Inc. 1,298,097 150,125
* Guidewire Software Inc. 1,805,422 145,932
* IAC/InterActiveCorp 919,294 143,759
* EPAM Systems Inc. 1,205,182 138,017
* athenahealth Inc. 958,865 137,146
* Proofpoint Inc. 1,203,651 136,795
* Aspen Technology Inc. 1,723,699 135,983
  Cypress Semiconductor Corp. 7,588,989 128,709
* Cavium Inc. 1,585,709 125,874
* Tableau Software Inc. Class A 1,538,026 124,303
* Nutanix Inc. 2,509,093 123,222
*,^ Paycom Software Inc. 1,134,937 121,881
  DST Systems Inc. 1,419,552 118,746
  Entegris Inc. 3,377,845 117,549
  Blackbaud Inc. 1,152,125 117,298
* Fair Isaac Corp. 684,490 115,932
* Teradata Corp. 2,894,043 114,807
* ARRIS International plc 4,254,031 113,030
* Nuance Communications Inc. 7,038,559 110,857
* Zendesk Inc. 2,310,146 110,587
  Monolithic Power Systems Inc. 896,447 103,782
* 2U Inc. 1,187,876 99,817
* Integrated Device Technology Inc. 3,168,512 96,830
* Cree Inc. 2,389,994 96,341
* RingCentral Inc. Class A 1,477,266 93,806
* NCR Corp. 2,917,932 91,973
* Silicon Laboratories Inc. 1,022,644 91,936
* Lumentum Holdings Inc. 1,419,291 90,551
* Ciena Corp. 3,445,754 89,245
* CACI International Inc. Class A 588,980 89,142
* HubSpot Inc. 816,432 88,420
*,^ ViaSat Inc. 1,339,553 88,035
  j2 Global Inc. 1,102,001 86,970
  SYNNEX Corp. 719,050 85,136
* Medidata Solutions Inc. 1,333,821 83,777
* Tech Data Corp. 911,999 77,638
* RealPage Inc. 1,489,736 76,721
* Dycom Industries Inc. 703,894 75,760
* New Relic Inc. 994,716 73,728
  Science Applications International Corp. 922,684 72,707
* Ellie Mae Inc. 779,638 71,680
* FireEye Inc. 4,202,645 71,151
* Manhattan Associates Inc. 1,629,845 68,258
* ACI Worldwide Inc. 2,845,801 67,502
  Cabot Microelectronics Corp. 613,072 65,666
* Verint Systems Inc. 1,530,300 65,191
* MuleSoft Inc. Class A 1,432,443 62,999
* Semtech Corp. 1,588,927 62,048
* Cirrus Logic Inc. 1,517,872 61,671

 

 

  InterDigital Inc. 828,641 60,988
* Advanced Energy Industries Inc. 948,082 60,582
* Twilio Inc. Class A 1,566,892 59,824
* Avaya Holdings Corp. 2,635,711 59,040
* Envestnet Inc. 1,008,545 57,790
* Callidus Software Inc. 1,582,253 56,882
* Box Inc. 2,753,394 56,582
* CommVault Systems Inc. 970,520 55,514
* Pure Storage Inc. Class A 2,702,586 53,917
* Allscripts Healthcare Solutions Inc. 4,332,925 53,512
* Mercury Systems Inc. 1,096,377 52,977
* Viavi Solutions Inc. 5,408,094 52,567
* NetScout Systems Inc. 1,983,684 52,270
* Qualys Inc. 707,594 51,477
* Cloudera Inc. 2,362,813 50,989
  Pegasystems Inc. 840,272 50,962
*,^ Match Group Inc. 1,133,922 50,391
* Cornerstone OnDemand Inc. 1,249,186 48,856
  Pitney Bowes Inc. 4,477,899 48,764
  Plantronics Inc. 792,150 47,822
  Power Integrations Inc. 679,162 46,421
* EchoStar Corp. Class A 861,944 45,485
  Brooks Automation Inc. 1,603,521 43,423
*,^ Finisar Corp. 2,733,064 43,210
  Cogent Communications Holdings Inc. 989,852 42,960
  Progress Software Corp. 1,113,402 42,810
* Coupa Software Inc. 923,739 42,141
* Premier Inc. Class A 1,312,122 41,083
* NETGEAR Inc. 713,446 40,809
* VeriFone Systems Inc. 2,644,605 40,674
  Ebix Inc. 528,254 39,355
* Infinera Corp. 3,582,352 38,904
*,^ Ubiquiti Networks Inc. 556,883 38,314
* Synaptics Inc. 825,247 37,739
  TiVo Corp. 2,781,491 37,689
* Okta Inc. 922,542 36,763
  CSG Systems International Inc. 801,964 36,321
* Bottomline Technologies de Inc. 928,156 35,966
* Rambus Inc. 2,630,130 35,323
* MaxLinear Inc. 1,449,511 32,976
* Blackline Inc. 766,497 30,054
*,^ 3D Systems Corp. 2,585,811 29,970
* Electronics For Imaging Inc. 1,096,275 29,961
* Insight Enterprises Inc. 855,494 29,882
* MicroStrategy Inc. Class A 226,386 29,202
* Diodes Inc. 940,323 28,642
* Alarm.com Holdings Inc. 734,873 27,734
*,^ Inphi Corp. 916,146 27,576
* Blucora Inc. 1,046,948 25,755
  Diebold Nixdorf Inc. 1,632,822 25,145
  Xperi Corp. 1,180,355 24,964
* Hortonworks Inc. 1,214,030 24,730
* FormFactor Inc. 1,732,553 23,649
* Amkor Technology Inc. 2,286,748 23,165
  Monotype Imaging Holdings Inc. 1,001,784 22,490
* ScanSource Inc. 610,697 21,710
* LivePerson Inc. 1,279,804 20,925

 

 

* Syntel Inc. 791,969 20,219
* Acacia Communications Inc. 523,501 20,134
  NIC Inc. 1,513,085 20,124
* Web.com Group Inc. 1,109,495 20,082
* Cray Inc. 966,042 19,997
* Shutterstock Inc. 415,125 19,988
* Rapid7 Inc. 773,302 19,773
* CEVA Inc. 524,300 18,980
  ADTRAN Inc. 1,153,487 17,937
* Quality Systems Inc. 1,298,817 17,729
* Alteryx Inc. Class A 514,438 17,563
* Super Micro Computer Inc. 930,217 15,814
* Lattice Semiconductor Corp. 2,809,866 15,651
* Virtusa Corp. 316,328 15,329
* CommerceHub Inc. 663,580 14,924
*,^ Yext Inc. 1,088,867 13,774
  Switch Inc. 858,114 13,653
* SailPoint Technologies Holding Inc. 643,627 13,317
*,^ Unisys Corp. 1,205,439 12,958
* Altair Engineering Inc. Class A 411,231 12,896
* Loral Space & Communications Inc. 307,589 12,811
* Presidio Inc. 769,630 12,037
*,^ Gogo Inc. 1,346,968 11,624
*,^ Benefitfocus Inc. 447,284 10,914
* Cision Ltd. 892,276 10,324
* Endurance International Group Holdings Inc. 1,360,892 10,071
  Forrester Research Inc. 236,720 9,812
* MongoDB Inc. 222,050 9,637
^ Computer Programs & Systems Inc. 314,620 9,187
* Synchronoss Technologies Inc. 850,823 8,976
* CommerceHub Inc. Class A 322,737 7,262
*,^ WideOpenWest Inc. 845,490 6,045
* Castlight Health Inc. Class B 1,617,541 5,904
* SendGrid Inc. 200,152 5,632
  Systemax Inc. 176,770 5,047
*,^ Appian Corp. Class A 151,493 3,815
* MobileIron Inc. 683,403 3,383
* Casa Systems Inc. 107,854 3,164
* Ribbon Communications Inc. 571,269 2,913
* SecureWorks Corp. Class A 198,299 1,602
* Zscaler Inc. 17,647 495
*,3 Piksel Inc. 241 —
      10,545,588
Telecommunications (0.4%)    
  Telephone & Data Systems Inc. 2,229,867 62,503
* Vonage Holdings Corp. 4,927,144 52,474
  Shenandoah Telecommunications Co. 1,119,184 40,291
*,^ Iridium Communications Inc. 1,998,953 22,488
* GTT Communications Inc. 389,275 22,072
  Consolidated Communications Holdings Inc. 1,693,221 18,558
  ATN International Inc. 249,038 14,848
* Cincinnati Bell Inc. 1,008,289 13,965
^ Frontier Communications Corp. 1,875,913 13,919
* United States Cellular Corp. 311,942 12,537
*,^ Globalstar Inc. 13,533,623 9,304
^ Windstream Holdings Inc. 2,170,705 3,061

 

 

* Intelsat SA     632,721 2,379
          288,399
Utilities (3.5%)        
  Atmos Energy Corp.     2,672,713 225,149
  NRG Energy Inc.     7,195,785 219,687
  UGI Corp.     4,156,204 184,619
  Westar Energy Inc. Class A     3,402,737 178,950
  Great Plains Energy Inc.     5,161,214 164,075
  Aqua America Inc.     4,250,540 144,773
* Vistra Energy Corp.     6,146,937 128,041
  Vectren Corp.     1,989,442 127,165
  IDACORP Inc.     1,208,107 106,640
  WGL Holdings Inc.     1,234,434 103,260
  National Fuel Gas Co.     1,862,828 95,842
  Hawaiian Electric Industries Inc.     2,607,173 89,635
  ALLETE Inc.     1,226,170 88,591
  Portland General Electric Co.     2,138,203 86,619
  New Jersey Resources Corp.     2,116,483 84,871
  ONE Gas Inc.     1,269,327 83,801
  Avista Corp.     1,571,662 80,548
  Spire Inc.     1,106,227 79,980
  Southwest Gas Holdings Inc.     1,088,556 73,619
  PNM Resources Inc.     1,907,707 72,970
  Black Hills Corp.     1,283,412 69,689
  NorthWestern Corp.     1,184,601 63,731
  South Jersey Industries Inc.     1,924,002 54,180
  Ormat Technologies Inc.     908,630 51,228
  El Paso Electric Co.     974,250 49,687
  American States Water Co.     879,378 46,660
* Dynegy Inc.     3,450,067 46,645
  MGE Energy Inc.     830,083 46,568
  California Water Service Group     1,148,925 42,797
  Northwest Natural Gas Co.     697,747 40,225
* Evoqua Water Technologies Corp.     1,083,648 23,071
*,^ Sunrun Inc.     2,049,724 18,304
  TerraForm Power Inc. Class A     1,592,655 17,089
*,^ Vivint Solar Inc.     336,629 1,229
          2,989,938
Total Common Stocks (Cost $63,400,152)       83,767,867
 
    Coupon      
Temporary Cash Investments (1.4%)1        
Money Market Fund (1.4%)        
4,5 Vanguard Market Liquidity Fund 1.775%   11,768,155 1,176,816
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)      
6 United States Treasury Bill 1.559%—1.602% 5/24/18 26,000 25,939
6 United States Treasury Bill 1.783% 6/21/18 2,000 1,992
  United States Treasury Bill 1.693% 7/12/18 1,000 995
          28,926
Total Temporary Cash Investments (Cost $1,205,675)     1,205,742

 

 

Total Investments (100.6%) (Cost $64,605,827) 84,973,609
Other Assets and Liabilities-Net (-0.6%)5,7 (495,247)
Net Assets (100%) 84,478,362

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $575,124,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts and
swap contracts. After giving effect to futures and swap investments, the fund's effective common stock and
temporary cash investment positions represent 100.0% and 0.6%, respectively, of net assets.
2 “Other” represents securities that are not classified by the fund’s benchmark index.
3 Security value determined using significant unobservable inputs.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $609,051,000 of collateral received for securities on loan.
6 Securities with a value of $26,885,000 have been segregated as initial margin for open futures contracts.
7 Cash with a value of $890,000 has been segregated as collateral for open over-the-counter swap contracts.
CVR—Contingent Value Rights.
REIT—Real Estate Investment Trust.

Derivative Financial Instruments Outstanding as of Period End      
 
Futures Contracts        
      ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini S&P Mid-Cap 400 Index June 2018 1,700 320,127 (7,229)
E-mini Russell 2000 Index June 2018 3,887 297,589 (10,333)
        (17,562)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

Total Return Swaps          
        Floating Value and
        Interest Unrealized
      Notional Rate Appreciation
  Termination   Amount Received (Depreciation)
Reference Entity Date Counterparty ($000) (Paid)1 ($000)
Ambac Financial Group Inc. 4/11/18 GSCM 8,153 (2.208%) 701
Gaming and Leisure Properties Inc. 6/21/18 GSI 16,117 (2.391%) (225)
SLM Corp. 5/9/18 GSI 45,055 (2.208%) 93
          569
GSCM—Goldman Sachs Capital Management.
GSI—Goldman Sachs International.
1 Payment received/paid monthly.

 

 

Small-Cap Index Fund

Unrealized appreciation (depreciation) on open swap contracts is required to be treated as
ordinary
income (loss) for tax purposes.

At March 31, 2018, a counterparty had deposited in a segregated account cash of $700,000 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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 83,759,347 — 8,520
Temporary Cash Investments 1,176,816 28,926 —
Futures Contracts—Assets1 7,255 — —
Swap Contracts—Assets — 794 —
Swap Contracts—Liabilities — (225) —
Total 84,943,418 29,495 8,520
1 Represents variation margin on the last day of the reporting period.

 

C. 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

 

Small-Cap Index Fund

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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks 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 invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

The notional amounts of swap contracts are not recorded in the Schedule of Investments. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as unrealized appreciation (depreciation) until termination of the swap, at which time realized gain (loss) is recorded.

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.

E. At March 31, 2018, the cost of investment securities for tax purposes was $64,615,700,000. Net unrealized appreciation of investment securities for tax purposes was $20,357,909,000, consisting of unrealized gains of $25,273,247,000 on securities that had risen in value since their purchase and $4,915,338,000 in unrealized losses on securities that had fallen in value since their purchase.

 

Small-Cap Index Fund


Vanguard Small-Cap Growth Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (100.0%)1    
Basic Materials (2.2%)    
  Royal Gold Inc. 891,530 76,556
  Versum Materials Inc. 1,483,213 55,813
  NewMarket Corp. 128,342 51,552
* Ingevity Corp. 573,593 42,268
  KapStone Paper and Packaging Corp. 1,190,713 40,853
  Balchem Corp. 435,829 35,629
* Platform Specialty Products Corp. 2,932,649 28,241
  US Silica Holdings Inc. 1,097,004 27,996
* Cambrex Corp. 446,679 23,361
* Univar Inc. 768,124 21,316
* Allegheny Technologies Inc. 855,394 20,256
* Ferro Corp. 568,131 13,192
* Coeur Mining Inc. 1,262,298 10,098
*,^ Fairmount Santrol Holdings Inc. 2,148,316 9,130
  American Vanguard Corp. 367,684 7,427
* PQ Group Holdings Inc. 368,188 5,144
  Hecla Mining Co. 1,234 5
      468,837
Consumer Goods (6.3%)    
* Middleby Corp. 761,576 94,276
  Gentex Corp. 3,737,751 86,043
  Toll Brothers Inc. 1,885,509 81,548
  Pool Corp. 519,711 75,992
  Brunswick Corp. 1,192,581 70,827
* Skechers U.S.A. Inc. Class A 1,733,122 67,401
  Carter's Inc. 644,765 67,120
* Post Holdings Inc. 848,556 64,287
* Wayfair Inc. 741,364 50,064
* Blue Buffalo Pet Products Inc. 1,196,856 47,647
* Hain Celestial Group Inc. 1,344,660 43,123
* Zynga Inc. Class A 10,679,361 39,086
* Welbilt Inc. 1,899,685 36,949
* TRI Pointe Group Inc. 2,059,182 33,832
  LCI Industries 322,687 33,608
  Steven Madden Ltd. 724,652 31,812
* Tempur Sealy International Inc. 627,396 28,415
  Vector Group Ltd. 1,380,731 28,153
  J&J Snack Foods Corp. 203,517 27,792
* Dorman Products Inc. 367,450 24,329
  WD-40 Co. 180,852 23,818
* Meritage Homes Corp. 522,219 23,630
*,^ iRobot Corp. 360,176 23,120
* Boston Beer Co. Inc. Class A 114,514 21,649
^ B&G Foods Inc. 905,661 21,464
  Interface Inc. Class A 816,765 20,582
* Hostess Brands Inc. Class A 1,287,011 19,035
* Sleep Number Corp. 528,634 18,582
* Gentherm Inc. 497,455 16,889

 

 

* Cal-Maine Foods Inc. 386,015 16,869
  Columbia Sportswear Co. 214,866 16,422
  Lancaster Colony Corp. 130,862 16,114
  National Beverage Corp. 157,862 14,053
* USANA Health Sciences Inc. 162,212 13,934
*,^ Fitbit Inc. Class A 2,498,106 12,740
  Coca-Cola Bottling Co. Consolidated 63,643 10,989
  Oxford Industries Inc. 107,712 8,031
*,^ elf Beauty Inc. 315,058 6,103
  Phibro Animal Health Corp. Class A 135,217 5,368
*,^ GoPro Inc. Class A 753,365 3,609
*,^ Revlon Inc. Class A 108,911 2,244
* Take-Two Interactive Software Inc. 353 35
  Delphi Technologies plc 274 13
* TreeHouse Foods Inc. 178 7
      1,347,604
Consumer Services (13.3%)    
* Copart Inc. 2,835,187 144,396
* Burlington Stores Inc. 929,558 123,771
  Vail Resorts Inc. 550,401 122,024
* GrubHub Inc. 1,125,876 114,243
* Caesars Entertainment Corp. 8,151,677 91,706
* Liberty Media Corp-Liberty Formula One 2,737,928 84,465
* Bright Horizons Family Solutions Inc. 786,715 78,451
* Live Nation Entertainment Inc. 1,830,602 77,142
  Dunkin' Brands Group Inc. 1,230,277 73,435
* Grand Canyon Education Inc. 657,693 69,005
  Domino's Pizza Inc. 292,981 68,429
  Rollins Inc. 1,335,893 68,171
  Six Flags Entertainment Corp. 978,903 60,946
* Madison Square Garden Co. Class A 233,172 57,314
  Casey's General Stores Inc. 511,387 56,135
* Five Below Inc. 752,364 55,178
* Hilton Grand Vacations Inc. 1,259,473 54,183
  Texas Roadhouse Inc. Class A 871,725 50,368
* ServiceMaster Global Holdings Inc. 919,444 46,754
* Stamps.com Inc. 226,130 45,463
* Yelp Inc. Class A 1,072,321 44,769
  ILG Inc. 1,435,813 44,668
* Planet Fitness Inc. Class A 1,168,392 44,130
* SiteOne Landscape Supply Inc. 543,920 41,904
* Etsy Inc. 1,491,753 41,859
* Ollie's Bargain Outlet Holdings Inc. 671,794 40,509
* Sprouts Farmers Market Inc. 1,724,870 40,483
  Nexstar Media Group Inc. Class A 589,379 39,194
  Marriott Vacations Worldwide Corp. 288,707 38,456
  Choice Hotels International Inc. 462,539 37,073
* Shutterfly Inc. 442,856 35,982
  Churchill Downs Inc. 147,364 35,964
  Jack in the Box Inc. 402,291 34,327
  Boyd Gaming Corp. 1,072,176 34,160
  Lions Gate Entertainment Corp. Class B 1,388,217 33,428
* Sotheby's 607,762 31,184
* Scientific Games Corp. 732,554 30,474
  Sabre Corp. 1,417,707 30,410
  Allegiant Travel Co. Class A 175,184 30,228
  PriceSmart Inc. 351,912 29,402

 

 

* Liberty Expedia Holdings Inc. Class A 741,266 29,117
  Red Rock Resorts Inc. Class A 936,187 27,412
* Eldorado Resorts Inc. 784,732 25,896
  Dolby Laboratories Inc. Class A 393,216 24,993
*,^ RH 261,465 24,912
* Groupon Inc. Class A 5,735,604 24,893
* Dave & Buster's Entertainment Inc. 554,312 23,137
  Cable One Inc. 33,138 22,769
  Monro Inc. 424,315 22,743
* Pinnacle Entertainment Inc. 743,449 22,415
  Morningstar Inc. 231,746 22,136
^ Papa John's International Inc. 334,126 19,145
  Lions Gate Entertainment Corp. Class A 728,619 18,820
  World Wrestling Entertainment Inc. Class A 521,255 18,770
  Wingstop Inc. 396,117 18,709
*,^ Trade Desk Inc. Class A 362,024 17,964
*,^ Pandora Media Inc. 3,209,013 16,141
* Michaels Cos. Inc. 740,583 14,597
* Quotient Technology Inc. 1,087,167 14,242
* Diplomat Pharmacy Inc. 693,508 13,974
* Chegg Inc. 671,822 13,880
  Cheesecake Factory Inc. 279,202 13,463
  Sonic Corp. 497,614 12,555
* Belmond Ltd. Class A 1,108,337 12,358
  BJ's Restaurants Inc. 268,451 12,053
* National Vision Holdings Inc. 357,926 11,565
*,^ ANGI Homeservices Inc. Class A 815,221 11,071
*,^ Shake Shack Inc. Class A 249,809 10,400
* Liberty Media Corp-Liberty Formula One Class A 337,999 9,900
* Lumber Liquidators Holdings Inc. 383,753 9,179
* TrueCar Inc. 958,965 9,072
*,^ Cargurus Inc. 158,860 6,111
  New Media Investment Group Inc. 347,416 5,955
  AMC Entertainment Holdings Inc. Class A 362,005 5,086
  EW Scripps Co. Class A 385,276 4,619
  Tile Shop Holdings Inc. 266,370 1,598
*,^ Blue Apron Holdings Inc. Class A 388,403 777
* AMC Networks Inc. Class A 156 8
* Fiesta Restaurant Group Inc. 67 1
* Clean Energy Fuels Corp. 420 1
* El Pollo Loco Holdings Inc. 66 1
* Habit Restaurants Inc. Class A 64 1
* Stitch Fix Inc. Class A 24 —
      2,852,622
Financials (17.4%)    
  MarketAxess Holdings Inc. 486,912 105,874
* Signature Bank 706,636 100,307
  Kilroy Realty Corp. 1,345,532 95,479
  Equity LifeStyle Properties Inc. 1,087,751 95,472
  Sun Communities Inc. 1,008,962 92,189
  Douglas Emmett Inc. 2,197,464 80,779
  Bank of the Ozarks 1,658,692 80,065
* Zillow Group Inc. 1,487,061 80,004
* Western Alliance Bancorp 1,293,313 75,154
  Healthcare Trust of America Inc. Class A 2,795,264 73,935
* Howard Hughes Corp. 526,110 73,198
  Lamar Advertising Co. Class A 1,144,499 72,859

 

 

  DCT Industrial Trust Inc. 1,281,266 72,187
  American Campus Communities Inc. 1,859,546 71,816
  CubeSmart 2,487,716 70,154
  Hudson Pacific Properties Inc. 2,135,663 69,473
  CyrusOne Inc. 1,309,626 67,066
  American Homes 4 Rent Class A 3,315,278 66,571
* GCI Liberty Inc. - Class A 1,257,001 66,445
  Pinnacle Financial Partners Inc. 1,007,817 64,702
  Medical Properties Trust Inc. 4,967,363 64,576
*,^ Credit Acceptance Corp. 184,082 60,823
* Texas Capital Bancshares Inc. 676,306 60,800
  STORE Capital Corp. 2,376,796 58,992
  Life Storage Inc. 634,431 52,988
* Essent Group Ltd. 1,202,470 51,177
  FirstCash Inc. 602,308 48,938
  Home BancShares Inc. 2,128,599 48,553
  Gramercy Property Trust 2,190,536 47,600
  Spirit Realty Capital Inc. 6,116,560 47,465
  Healthcare Realty Trust Inc. 1,706,892 47,298
  CoreSite Realty Corp. 466,581 46,779
  Ryman Hospitality Properties Inc. 592,942 45,923
  Colony NorthStar Inc. Class A 7,975,076 44,820
  PacWest Bancorp 878,224 43,498
* HealthEquity Inc. 702,300 42,517
* Green Dot Corp. Class A 626,615 40,204
  Paramount Group Inc. 2,787,934 39,700
* Zillow Group Inc. Class A 723,751 39,083
  Physicians Realty Trust 2,443,205 38,041
^ Uniti Group Inc. 2,270,604 36,897
  Evercore Inc. Class A 420,881 36,701
^ Omega Healthcare Investors Inc. 1,351,521 36,545
  Corporate Office Properties Trust 1,381,081 35,673
* Blackhawk Network Holdings Inc. 773,845 34,591
  Education Realty Trust Inc. 1,033,250 33,839
  Sterling Bancorp 1,454,249 32,793
  Pebblebrook Hotel Trust 940,311 32,300
*,^ LendingTree Inc. 97,906 32,128
  Simmons First National Corp. Class A 1,128,017 32,092
  STAG Industrial Inc. 1,323,927 31,668
*,^ BofI Holding Inc. 766,161 31,052
  Rexford Industrial Realty Inc. 1,073,080 30,894
  Kennedy-Wilson Holdings Inc. 1,753,096 30,504
  Financial Engines Inc. 858,910 30,062
  Urban Edge Properties 1,396,229 29,809
* FCB Financial Holdings Inc. Class A 576,433 29,456
  PS Business Parks Inc. 259,688 29,355
  Moelis & Co. Class A 549,726 27,954
  Retail Opportunity Investments Corp. 1,532,800 27,085
  LegacyTexas Financial Group Inc. 623,282 26,689
* Eagle Bancorp Inc. 442,278 26,470
  Ameris Bancorp 494,165 26,141
  Towne Bank 882,525 25,240
  ServisFirst Bancshares Inc. 612,900 25,019
  HFF Inc. Class A 499,061 24,803
  Terreno Realty Corp. 718,688 24,802
  Hilltop Holdings Inc. 980,267 22,997
  Sabra Health Care REIT Inc. 1,214,602 21,438

 

 

  QTS Realty Trust Inc. Class A 587,604 21,283
* LendingClub Corp. 5,130,600 17,957
* Third Point Reinsurance Ltd. 1,243,281 17,344
  Kite Realty Group Trust 1,114,003 16,966
  WisdomTree Investments Inc. 1,577,154 14,462
  CareTrust REIT Inc. 1,031,452 13,821
  National Bank Holdings Corp. Class A 391,012 13,001
  Kearny Financial Corp. 965,740 12,555
* Pacific Premier Bancorp Inc. 298,988 12,019
*,^ Redfin Corp. 514,467 11,745
  Cohen & Steers Inc. 285,618 11,613
  TFS Financial Corp. 759,379 11,155
  Virtu Financial Inc. Class A 334,254 11,030
  Alexander's Inc. 28,210 10,754
^ Colony Northstar Credit Real Estate Inc. Class A 557,269 10,560
  Houlihan Lokey Inc. Class A 210,681 9,396
* St. Joe Co. 496,601 9,361
  VICI Properties Inc. 504,678 9,246
  New Senior Investment Group Inc. 1,075,122 8,794
  American Assets Trust Inc. 258,364 8,632
* Marcus & Millichap Inc. 235,802 8,503
  Independent Bank Group Inc. 115,316 8,153
  RMR Group Inc. Class A 93,280 6,525
* PennyMac Financial Services Inc. Class A 284,361 6,441
  Front Yard Residential Corp. 620,352 6,235
  Americold Realty Trust 292,818 5,587
  Hamilton Lane Inc. Class A 138,977 5,174
  Northfield Bancorp Inc. 284,161 4,436
* Newmark Group Inc. Class A 282,727 4,295
  Investment Technology Group Inc. 206,391 4,074
* On Deck Capital Inc. 376,529 2,105
*,^ Longfin Corp. 56,276 971
* Victory Capital Holdings Inc. Class A 72,900 897
  GAMCO Investors Inc. Class A 30,215 750
* Bridgewater Bancshares Inc. 14,825 194
  Gaming and Leisure Properties Inc. 624 21
  Forest City Realty Trust Inc. Class A 784 16
  JBG SMITH Properties 329 11
  Alexander & Baldwin Inc. 211 5
  InfraREIT Inc. 120 2
* Industrial Logistics Properties Trust 60 1
      3,724,591
Health Care (16.4%)    
* Bluebird Bio Inc. 680,747 116,238
* Nektar Therapeutics Class A 1,092,656 116,106
* Neurocrine Biosciences Inc. 1,216,999 100,926
  West Pharmaceutical Services Inc. 1,011,259 89,284
* Exelixis Inc. 4,029,409 89,251
* DexCom Inc. 1,183,562 87,773
* ABIOMED Inc. 286,581 83,392
  Bio-Techne Corp. 510,392 77,090
* Ionis Pharmaceuticals Inc. 1,699,684 74,922
* Catalent Inc. 1,815,731 74,554
* Bio-Rad Laboratories Inc. Class A 285,399 71,373
* Insulet Corp. 795,242 68,932
* Exact Sciences Corp. 1,646,088 66,387
* Sarepta Therapeutics Inc. 836,285 61,960

 

 

* PRA Health Sciences Inc. 695,029 57,660
* Masimo Corp. 633,340 55,702
* Agios Pharmaceuticals Inc. 663,706 54,278
  STERIS plc 577,736 53,937
  Cantel Medical Corp. 483,919 53,913
* ICU Medical Inc. 205,607 51,895
* Penumbra Inc. 415,988 48,109
* Integra LifeSciences Holdings Corp. 854,957 47,313
* Globus Medical Inc. 937,877 46,725
* FibroGen Inc. 1,007,586 46,550
* Array BioPharma Inc. 2,827,974 46,153
* Avexis Inc. 372,723 46,061
* Ligand Pharmaceuticals Inc. 273,119 45,108
* Neogen Corp. 666,746 44,665
* Acadia Healthcare Co. Inc. 1,136,550 44,530
  Healthcare Services Group Inc. 947,997 41,219
  Bruker Corp. 1,377,144 41,204
* Amicus Therapeutics Inc. 2,528,313 38,026
* Syneos Health Inc. 1,065,850 37,838
* Seattle Genetics Inc. 699,297 36,601
* NuVasive Inc. 694,119 36,240
* Ultragenyx Pharmaceutical Inc. 641,853 32,728
* Halozyme Therapeutics Inc. 1,653,509 32,392
* Horizon Pharma plc 2,232,044 31,695
* ACADIA Pharmaceuticals Inc. 1,353,405 30,411
* Supernus Pharmaceuticals Inc. 663,246 30,377
* Global Blood Therapeutics Inc. 625,954 30,234
* Emergent BioSolutions Inc. 571,737 30,102
* Nevro Corp. 346,225 30,007
* Molina Healthcare Inc. 367,701 29,850
*,^ TESARO Inc. 518,493 29,627
* Puma Biotechnology Inc. 434,477 29,566
* Merit Medical Systems Inc. 649,403 29,450
* Medicines Co. 893,585 29,435
* Portola Pharmaceuticals Inc. 888,762 29,027
* Ironwood Pharmaceuticals Inc. Class A 1,862,126 28,733
* Wright Medical Group NV 1,444,383 28,657
* Spark Therapeutics Inc. 429,123 28,575
*,^ Teladoc Inc. 700,232 28,219
* Inogen Inc. 227,368 27,930
* Haemonetics Corp. 363,236 26,574
* Arena Pharmaceuticals Inc. 652,401 25,770
* Akorn Inc. 1,277,650 23,905
* Amedisys Inc. 392,794 23,701
* Insmed Inc. 1,043,511 23,500
* NxStage Medical Inc. 902,317 22,432
* Tivity Health Inc. 539,348 21,385
  Abaxis Inc. 293,352 20,717
* Quidel Corp. 392,829 20,352
* Novocure Ltd. 921,654 20,092
* Spectrum Pharmaceuticals Inc. 1,233,933 19,854
*,^ Radius Health Inc. 545,664 19,611
* HMS Holdings Corp. 1,143,870 19,263
* Varex Imaging Corp. 511,604 18,305
* Momenta Pharmaceuticals Inc. 985,942 17,895
* Aimmune Therapeutics Inc. 543,665 17,305
* Innoviva Inc. 1,027,178 17,123

 

 

* Clovis Oncology Inc. 316,567 16,715
* Editas Medicine Inc. 494,283 16,385
* Pacira Pharmaceuticals Inc. 522,961 16,290
* Acorda Therapeutics Inc. 634,019 14,995
*,^ Intrexon Corp. 958,077 14,687
*,^ Intercept Pharmaceuticals Inc. 238,310 14,661
*,^ OPKO Health Inc. 4,557,403 14,447
* Orthofix International NV 234,193 13,766
*,^ Theravance Biopharma Inc. 550,783 13,356
*,^ Immunomedics Inc. 902,865 13,191
* Epizyme Inc. 703,396 12,485
*,^ Glaukos Corp. 397,256 12,247
  Luminex Corp. 569,698 12,004
* Esperion Therapeutics Inc. 162,381 11,745
* Corcept Therapeutics Inc. 699,397 11,505
* Alder Biopharmaceuticals Inc. 884,811 11,237
* Sangamo Therapeutics Inc. 575,368 10,932
* Omnicell Inc. 247,041 10,722
* Acceleron Pharma Inc. 259,325 10,140
* AMAG Pharmaceuticals Inc. 483,085 9,734
* Repligen Corp. 267,573 9,681
* MyoKardia Inc. 182,468 8,904
  Ensign Group Inc. 334,731 8,803
  HealthStream Inc. 350,385 8,700
* Genomic Health Inc. 263,881 8,257
  Meridian Bioscience Inc. 580,149 8,238
  Analogic Corp. 85,639 8,213
* PTC Therapeutics Inc. 296,327 8,019
* Foundation Medicine Inc. 98,731 7,775
*,^ Intellia Therapeutics Inc. 345,963 7,296
* Natus Medical Inc. 203,966 6,863
* Achillion Pharmaceuticals Inc. 1,773,655 6,580
* CorVel Corp. 129,360 6,539
*,^ TherapeuticsMD Inc. 1,188,060 5,786
* Accuray Inc. 1,088,005 5,440
* Aduro Biotech Inc. 579,139 5,386
*,^ MiMedx Group Inc. 718,503 5,008
*,^ Lexicon Pharmaceuticals Inc. 583,422 5,000
*,^ Keryx Biopharmaceuticals Inc. 1,222,210 4,999
*,^ Akcea Therapeutics Inc. 181,211 4,641
*,^ Surgery Partners Inc. 266,396 4,569
* Medpace Holdings Inc. 122,610 4,280
* Natera Inc. 442,669 4,104
* Five Prime Therapeutics Inc. 219,870 3,777
*,^ ZIOPHARM Oncology Inc. 871,101 3,415
*,^ Insys Therapeutics Inc. 403,061 2,434
* Endologix Inc. 540,886 2,288
*,^ Seres Therapeutics Inc. 281,309 2,065
*,^ Denali Therapeutics Inc. 86,583 1,705
* Depomed Inc. 195,498 1,288
* Unum Therapeutics Inc. 55,032 611
* Bioxcel Therapeutics Inc. 44,125 452
* ARMO BioSciences Inc. 7,382 276
* Evolus Inc. 28,267 255
* Wright Medical Group Inc. CVR 165,303 220
* Arcus Biosciences Inc. 10,093 156
* Homology Medicines Inc. 2,786 52

 

 

* Alnylam Pharmaceuticals Inc. 276 33
* Celldex Therapeutics Inc. 211 1
    3,510,067
Industrials (20.9%)    
* TransUnion 2,500,443 141,975
Old Dominion Freight Line Inc. 953,726 140,169
Jack Henry & Associates Inc. 1,052,237 127,268
AO Smith Corp. 1,981,843 126,025
Lennox International Inc. 532,914 108,912
Graco Inc. 2,308,315 105,536
* Zebra Technologies Corp. 725,256 100,948
* Berry Global Group Inc. 1,787,066 97,949
Nordson Corp. 708,709 96,625
* WEX Inc. 585,931 91,769
* HD Supply Holdings Inc. 2,415,199 91,633
Broadridge Financial Solutions Inc. 794,405 87,138
Toro Co. 1,387,225 86,632
BWX Technologies Inc. 1,353,515 85,989
* Teledyne Technologies Inc. 458,485 85,815
Knight-Swift Transportation Holdings Inc. 1,817,682 83,632
* XPO Logistics Inc. 817,235 83,203
National Instruments Corp. 1,608,502 81,342
Hexcel Corp. 1,223,626 79,034
Watsco Inc. 415,687 75,227
Genpact Ltd. 2,100,797 67,205
* Keysight Technologies Inc. 1,278,765 66,995
Littelfuse Inc. 321,080 66,842
Eagle Materials Inc. 629,944 64,916
* Coherent Inc. 337,653 63,276
Landstar System Inc. 571,593 62,675
MAXIMUS Inc. 888,235 59,281
Cognex Corp. 1,122,937 58,382
Universal Display Corp. 576,753 58,252
Air Lease Corp. Class A 1,340,813 57,145
* On Assignment Inc. 672,832 55,091
HEICO Corp. Class A 768,966 54,558
Woodward Inc. 751,191 53,830
* Euronet Worldwide Inc. 681,599 53,792
John Bean Technologies Corp. 429,982 48,760
FLIR Systems Inc. 943,929 47,206
* USG Corp. 1,153,104 46,608
* Summit Materials Inc. Class A 1,503,244 45,518
* Cimpress NV 292,379 45,231
* Trex Co. Inc. 400,901 43,606
* Proto Labs Inc. 344,805 40,532
* RBC Bearings Inc. 314,323 39,039
HEICO Corp. 438,633 38,078
* TopBuild Corp. 484,733 37,092
* AMN Healthcare Services Inc. 648,944 36,828
Packaging Corp. of America 321,452 36,228
Insperity Inc. 508,328 35,354
* Clean Harbors Inc. 697,712 34,055
Simpson Manufacturing Co. Inc. 580,315 33,420
* Itron Inc. 448,357 32,080
* II-VI Inc. 765,964 31,328
* Builders FirstSource Inc. 1,538,592 30,526
* Rogers Corp. 248,484 29,704

 

 

* Gardner Denver Holdings Inc. 935,592 28,704
  Louisiana-Pacific Corp. 987,086 28,398
  Exponent Inc. 351,266 27,627
* TriNet Group Inc. 567,645 26,293
* Aerojet Rocketdyne Holdings Inc. 920,263 25,740
  Albany International Corp. 394,548 24,738
* ExlService Holdings Inc. 438,914 24,478
* WageWorks Inc. 539,696 24,394
* Masonite International Corp. 386,498 23,712
* Floor & Decor Holdings Inc. Class A 453,247 23,623
  Mueller Water Products Inc. Class A 2,168,476 23,571
  Schneider National Inc. Class B 894,805 23,319
  Covanta Holding Corp. 1,605,043 23,273
  EnPro Industries Inc. 290,440 22,474
  Franklin Electric Co. Inc. 538,542 21,946
  Forward Air Corp. 403,587 21,334
  Cubic Corp. 333,374 21,203
* Ambarella Inc. 429,152 21,024
  AAON Inc. 533,543 20,808
  Sun Hydraulics Corp. 384,106 20,573
* Paylocity Holding Corp. 393,936 20,181
  Methode Electronics Inc. 493,995 19,315
* Imperva Inc. 440,011 19,052
* Air Transport Services Group Inc. 763,149 17,797
  Badger Meter Inc. 375,461 17,703
  Maxar Technologies Ltd. 380,809 17,612
* Armstrong World Industries Inc. 310,890 17,503
* Advanced Disposal Services Inc. 781,924 17,421
  Raven Industries Inc. 484,157 16,970
  Apogee Enterprises Inc. 387,181 16,784
  Tennant Co. 231,000 15,639
  AZZ Inc. 351,400 15,356
  Granite Construction Inc. 269,965 15,080
* Continental Building Products Inc. 510,559 14,576
* JELD-WEN Holding Inc. 464,231 14,215
*,^ Axon Enterprise Inc. 344,495 13,542
* FARO Technologies Inc. 229,601 13,409
* Aerovironment Inc. 293,921 13,376
  Lindsay Corp. 146,063 13,356
*,^ Evolent Health Inc. Class A 864,251 12,316
  Advanced Drainage Systems Inc. 460,485 11,927
  Heartland Express Inc. 628,521 11,307
* Veeco Instruments Inc. 653,442 11,109
* American Woodmark Corp. 107,282 10,562
  Comfort Systems USA Inc. 253,374 10,452
* Thermon Group Holdings Inc. 445,361 9,981
* Inovalon Holdings Inc. Class A 820,043 8,692
* Installed Building Products Inc. 141,108 8,474
  Gorman-Rupp Co. 284,275 8,315
  Quanex Building Products Corp. 477,572 8,310
  REV Group Inc. 396,070 8,222
* Ply Gem Holdings Inc. 281,565 6,082
* InnerWorkings Inc. 643,473 5,823
*,^ MACOM Technology Solutions Holdings Inc. 307,142 5,099
* Astronics Corp. 121,908 4,547
* Mistras Group Inc. 235,230 4,455
* American Outdoor Brands Corp. 368,356 3,801

 

 

* Armstrong Flooring Inc. 141,569 1,921
* Astronics Corp. Class B 21,402 791
* Cardlytics Inc. 18,096 265
* CoStar Group Inc. 112 41
* IPG Photonics Corp. 108 25
* OSI Systems Inc. 56 4
  Primoris Services Corp. 127 3
* Cardtronics plc Class A 142 3
* Gates Industrial Corp. plc 132 2
      4,488,902
Oil & Gas (4.8%)    
* Parsley Energy Inc. Class A 3,264,911 94,650
* Diamondback Energy Inc. 668,943 84,635
* Energen Corp. 1,324,020 83,228
* RSP Permian Inc. 1,728,203 81,018
* Newfield Exploration Co. 2,720,340 66,431
  Core Laboratories NV 601,595 65,105
  Patterson-UTI Energy Inc. 3,027,751 53,016
* Centennial Resource Development Inc. Class A 2,482,493 45,554
* PDC Energy Inc. 897,232 43,991
* WPX Energy Inc. 2,713,021 40,098
* Matador Resources Co. 1,256,438 37,580
* Callon Petroleum Co. 2,749,228 36,400
* Southwestern Energy Co. 8,000,436 34,642
* SRC Energy Inc. 3,268,797 30,825
* Chart Industries Inc. 419,028 24,735
* Gulfport Energy Corp. 2,242,613 21,641
  Pattern Energy Group Inc. Class A 1,196,670 20,690
* Laredo Petroleum Inc. 2,139,998 18,639
* Carrizo Oil & Gas Inc. 1,048,904 16,782
* Extraction Oil & Gas Inc. 1,402,781 16,076
^ RPC Inc. 882,228 15,907
  SM Energy Co. 761,067 13,722
* SEACOR Holdings Inc. 217,341 11,106
*,^ Jagged Peak Energy Inc. 725,191 10,247
* Cactus Inc. 355,314 9,569
* Newpark Resources Inc. 1,118,158 9,057
* Keane Group Inc. 603,156 8,927
* ProPetro Holding Corp. 429,029 6,817
*,^ WildHorse Resource Development Corp. 345,007 6,586
* Forum Energy Technologies Inc. 553,778 6,092
* Alta Mesa Resources Inc. 728,316 5,826
* Ultra Petroleum Corp. 1,337,789 5,579
*,^ Tellurian Inc. 536,466 3,868
* FTS International Inc. 186,128 3,423
*,^ Liberty Oilfield Services Inc. Class A 188,001 3,175
* NCS Multistage Holdings Inc. 119,569 1,793
* Eclipse Resources Corp. 286,682 413
*,^ NextDecade Corp. 74,554 368
* Quintana Energy Services Inc. 18,043 176
* QEP Resources Inc. 747 7
* Sanchez Energy Corp. 221 1
      1,038,395
Other (0.0%)2    
*,3 Dyax Corp. CVR Exp. 12/31/2019 1,798,309 3,597
*,3 NewStar Financial Inc. CVR 323,987 159

 

 

*,3 Media General Inc. CVR 1,362,047 53
*,3 Clinical Data CVR 132,154 —
      3,809
Technology (18.1%)    
  SS&C Technologies Holdings Inc. 2,383,153 127,832
* PTC Inc. 1,583,727 123,547
* GoDaddy Inc. Class A 1,800,781 110,604
* Veeva Systems Inc. Class A 1,507,325 110,065
* Fortinet Inc. 2,013,205 107,868
* Tyler Technologies Inc. 490,357 103,446
* Ultimate Software Group Inc. 386,550 94,202
  MKS Instruments Inc. 739,461 85,519
* Guidewire Software Inc. 1,026,399 82,964
* IAC/InterActiveCorp 523,246 81,825
* EPAM Systems Inc. 685,511 78,505
* athenahealth Inc. 546,047 78,101
* Proofpoint Inc. 685,360 77,891
* Aspen Technology Inc. 979,716 77,290
* Cavium Inc. 902,967 71,678
* Tableau Software Inc. Class A 874,518 70,679
* Nutanix Inc. 1,428,820 70,169
* Paycom Software Inc. 644,804 69,245
  Entegris Inc. 1,922,223 66,893
  Blackbaud Inc. 654,753 66,660
* Fair Isaac Corp. 389,065 65,896
* Zendesk Inc. 1,313,337 62,869
  Monolithic Power Systems Inc. 510,094 59,054
* 2U Inc. 675,582 56,769
* Integrated Device Technology Inc. 1,802,303 55,078
* RingCentral Inc. Class A 840,037 53,342
* Silicon Laboratories Inc. 581,627 52,288
* Lumentum Holdings Inc. 806,585 51,460
* Ciena Corp. 1,962,591 50,831
* HubSpot Inc. 464,615 50,318
*,^ ViaSat Inc. 760,602 49,987
  j2 Global Inc. 626,074 49,410
* Medidata Solutions Inc. 758,079 47,615
* RealPage Inc. 846,526 43,596
* Dycom Industries Inc. 400,383 43,093
* New Relic Inc. 566,215 41,968
* Ellie Mae Inc. 442,829 40,714
* FireEye Inc. 2,388,300 40,434
* Manhattan Associates Inc. 925,648 38,766
* ACI Worldwide Inc. 1,614,624 38,299
* Cirrus Logic Inc. 863,003 35,064
  InterDigital Inc. 471,683 34,716
* Advanced Energy Industries Inc. 539,708 34,487
* Twilio Inc. Class A 890,358 33,994
* Envestnet Inc. 572,977 32,832
* Callidus Software Inc. 899,013 32,319
* Box Inc. 1,564,885 32,158
* CommVault Systems Inc. 550,855 31,509
* Pure Storage Inc. Class A 1,535,812 30,639
* Allscripts Healthcare Solutions Inc. 2,459,719 30,378
* Mercury Systems Inc. 624,145 30,159
* NetScout Systems Inc. 1,129,327 29,758
* Qualys Inc. 402,295 29,267

 

 

  Pegasystems Inc. 477,167 28,940
*,^ Match Group Inc. 645,766 28,698
* Cornerstone OnDemand Inc. 709,476 27,748
* Cree Inc. 680,427 27,428
  Power Integrations Inc. 385,025 26,316
  Brooks Automation Inc. 910,101 24,646
  Cogent Communications Holdings Inc. 562,888 24,429
* Coupa Software Inc. 524,677 23,936
  Ebix Inc. 299,759 22,332
* Infinera Corp. 2,035,902 22,110
*,^ Ubiquiti Networks Inc. 317,464 21,842
* Bottomline Technologies de Inc. 525,999 20,382
* Rambus Inc. 1,493,155 20,053
* MaxLinear Inc. 828,869 18,857
* Blackline Inc. 439,559 17,235
*,^ 3D Systems Corp. 1,468,094 17,015
* Avaya Holdings Corp. 748,686 16,771
* MicroStrategy Inc. Class A 127,766 16,481
* Diodes Inc. 535,282 16,305
* Alarm.com Holdings Inc. 417,099 15,741
* Inphi Corp. 519,339 15,632
  Xperi Corp. 668,883 14,147
* Hortonworks Inc. 691,978 14,096
  Plantronics Inc. 223,740 13,507
  Monotype Imaging Holdings Inc. 568,106 12,754
* LivePerson Inc. 735,932 12,032
* Cray Inc. 555,838 11,506
* Acacia Communications Inc. 297,905 11,457
  NIC Inc. 856,220 11,388
* Shutterstock Inc. 235,557 11,342
* Rapid7 Inc. 432,282 11,053
* CEVA Inc. 301,036 10,897
* Alteryx Inc. Class A 293,080 10,006
* Super Micro Computer Inc. 533,332 9,067
* Lattice Semiconductor Corp. 1,613,125 8,985
* Virtusa Corp. 181,212 8,782
* CommerceHub Inc. 378,625 8,515
  Switch Inc. 491,659 7,822
* Altair Engineering Inc. Class A 233,636 7,327
* Loral Space & Communications Inc. 175,567 7,312
* FormFactor Inc. 500,849 6,837
*,^ Gogo Inc. 774,729 6,686
*,^ Benefitfocus Inc. 258,090 6,297
* Cision Ltd. 508,372 5,882
* Endurance International Group Holdings Inc. 773,959 5,727
  Forrester Research Inc. 136,397 5,654
* CommerceHub Inc. Class A 185,917 4,183
*,^ WideOpenWest Inc. 482,585 3,450
* Castlight Health Inc. Class B 938,576 3,426
* SendGrid Inc. 114,197 3,213
* Synchronoss Technologies Inc. 241,553 2,548
* Zscaler Inc. 90,063 2,528
* MobileIron Inc. 394,460 1,953
* Casa Systems Inc. 59,130 1,735
*,^ SecureWorks Corp. Class A 111,951 905
* Finisar Corp. 353 6
* Electronics For Imaging Inc. 144 4

 

 

* SailPoint Technologies Holding Inc.     67 1
          3,879,977
Telecommunications (0.3%)        
  Shenandoah Telecommunications Co.     636,645 22,919
* GTT Communications Inc.     221,729 12,572
  ATN International Inc.     143,147 8,535
* Cincinnati Bell Inc.     578,911 8,018
*,^ Globalstar Inc.     7,785,487 5,353
  Windstream Holdings Inc.     1,241,426 1,750
          59,147
Utilities (0.3%)        
  Ormat Technologies Inc.     516,880 29,142
* Dynegy Inc.     982,925 13,289
* Evoqua Water Technologies Corp.     621,060 13,222
*,^ Sunrun Inc.     1,169,173 10,441
  TerraForm Power Inc. Class A     908,409 9,747
*,^ Vivint Solar Inc.     195,395 713
          76,554
Total Common Stocks (Cost $15,883,675)       21,450,505
 
    Coupon      
Temporary Cash Investments (1.0%)1        
Money Market Fund (1.0%)        
4,5 Vanguard Market Liquidity Fund 1.775%   2,191,553 219,155
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
  United States Treasury Bill 1.398% 5/3/18 250 250
6 United States Treasury Bill 1.446% 5/31/18 2,776 2,768
6 United States Treasury Bill 1.693% 7/12/18 300 299
          3,317
Total Temporary Cash Investments (Cost $222,457)       222,472
Total Investments (101.0%) (Cost $16,106,132)       21,672,977
Other Assets and Liabilities-Net (-1.0%)5       (216,133)
Net Assets (100%)       21,456,844

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $204,102,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 100.1% and 0.9%, respectively, of net assets.
2 “Other” represents securities that are not classified by the fund’s benchmark index.
3 Security value determined using significant unobservable inputs.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $213,531,000 of collateral received for securities on loan.
6 Securities with a value of $1,545,000 have been segregated as initial margin for open futures contracts.
CVR—Contingent Value Rights.
REIT—Real Estate Investment Trust.

 

Small-Cap Growth Index Fund

Derivative Financial Instruments Outstanding as of Period End    
 
Futures Contracts      
      ($000)
      Value and
    Number of Unrealized
    Long (Short) Notional Appreciation 
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini Russell 2000 Index June 2018 253 19,370 (887)

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 21,446,696 — 3,809
Temporary Cash Investments 219,155 3,317 —
Futures Contracts—Assets1 175 — —
Total 21,666,026 3,317 3,809
1 Represents variation margin on the last day of the reporting period.

 

 

Small-Cap Growth Index Fund

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. At March 31, 2018, the cost of investment securities for tax purposes was $16,106,132,000. Net unrealized appreciation of investment securities for tax purposes was $5,566,845,000, consisting of unrealized gains of $6,655,322,000 on securities that had risen in value since their purchase and $1,088,477,000 in unrealized losses on securities that had fallen in value since their purchase.


Vanguard Small-Cap Value Index Fund    
 
 
 
Schedule of Investments (unaudited)    
As of March 31, 2018    
 
      Market
      Value
    Shares ($000)
Common Stocks (99.6%)1    
Basic Materials (6.2%)    
  Steel Dynamics Inc. 3,406,311 150,627
  Chemours Co. 2,762,653 134,569
  RPM International Inc. 2,021,419 96,361
  United States Steel Corp. 2,661,864 93,671
  Huntsman Corp. 3,088,054 90,326
  Olin Corp. 2,529,162 76,861
  Ashland Global Holdings Inc. 941,762 65,725
* Alcoa Corp. 1,399,924 62,941
  WR Grace & Co. 1,025,762 62,807
  PolyOne Corp. 1,222,574 51,984
  Scotts Miracle-Gro Co. 603,111 51,717
  Peabody Energy Corp. 1,285,793 46,931
  Cabot Corp. 841,978 46,915
  Sensient Technologies Corp. 658,037 46,444
  Domtar Corp. 948,133 40,334
  HB Fuller Co. 763,372 37,962
  Minerals Technologies Inc. 536,284 35,904
  Commercial Metals Co. 1,677,141 34,314
  Carpenter Technology Corp. 710,151 31,332
* Cleveland-Cliffs Inc. 4,503,843 31,302
  Compass Minerals International Inc. 512,017 30,875
* GCP Applied Technologies Inc. 1,029,943 29,920
  Arch Coal Inc. Class A 315,478 28,986
  Quaker Chemical Corp. 190,875 28,274
  Worthington Industries Inc. 652,416 28,002
  Stepan Co. 306,032 25,456
  Innospec Inc. 367,678 25,223
  Kaiser Aluminum Corp. 241,044 24,321
  Tronox Ltd. Class A 1,308,457 24,128
* Univar Inc. 854,907 23,724
* Kraton Corp. 476,718 22,744
* Allegheny Technologies Inc. 949,010 22,472
  Hecla Mining Co. 6,049,849 22,203
* AK Steel Holding Corp. 4,759,143 21,559
  A Schulman Inc. 400,828 17,236
  Rayonier Advanced Materials Inc. 779,950 16,745
* Ferro Corp. 632,729 14,692
  PH Glatfelter Co. 656,782 13,484
* Koppers Holdings Inc. 313,179 12,872
  Warrior Met Coal Inc. 442,072 12,382
* Century Aluminum Co. 724,796 11,988
  Innophos Holdings Inc. 294,023 11,823
* Coeur Mining Inc. 1,399,629 11,197
* CONSOL Energy Inc. 381,040 11,039
* Clearwater Paper Corp. 251,894 9,849
  Tredegar Corp. 481,129 8,636
  Kronos Worldwide Inc. 354,978 8,022
* Resolute Forest Products Inc. 893,829 7,419
  Haynes International Inc. 191,783 7,117

 

 

* SunCoke Energy Inc. 498,477 5,364
FutureFuel Corp. 400,054 4,797
Versum Materials Inc. 645 24
    1,831,600
Consumer Goods (7.1%)    
* US Foods Holding Corp. 3,247,925 106,435
Pinnacle Foods Inc. 1,801,690 97,471
* Herbalife Ltd. 926,060 90,263
Leggett & Platt Inc. 2,000,964 88,763
Thor Industries Inc. 757,672 87,261
Ingredion Inc. 546,880 70,504
Valvoline Inc. 3,027,547 67,000
Delphi Technologies plc 1,340,646 63,882
Flowers Foods Inc. 2,708,870 59,216
Dana Inc. 2,195,560 56,558
Nu Skin Enterprises Inc. Class A 758,240 55,890
Energizer Holdings Inc. 903,314 53,819
* Visteon Corp. 468,003 51,593
Goodyear Tire & Rubber Co. 1,819,454 48,361
* Deckers Outdoor Corp. 480,471 43,257
* Darling Ingredients Inc. 2,491,884 43,110
Tenneco Inc. 780,859 42,846
* Edgewell Personal Care Co. 817,921 39,931
Wolverine World Wide Inc. 1,375,792 39,760
* Taylor Morrison Home Corp. Class A 1,683,247 39,186
KB Home 1,313,056 37,356
Sanderson Farms Inc. 311,128 37,030
^ Spectrum Brands Holdings Inc. 350,675 36,365
* Helen of Troy Ltd. 408,196 35,513
Mattel Inc. 2,600,075 34,191
* Cooper-Standard Holdings Inc. 270,530 33,224
* TreeHouse Foods Inc. 855,184 32,728
Tupperware Brands Corp. 655,039 31,691
Herman Miller Inc. 904,209 28,889
* American Axle & Manufacturing Holdings Inc. 1,681,324 25,590
* G-III Apparel Group Ltd. 632,622 23,837
HNI Corp. 655,821 23,669
Cooper Tire & Rubber Co. 767,033 22,474
La-Z-Boy Inc. 709,082 21,237
* Central Garden & Pet Co. Class A 523,303 20,728
ACCO Brands Corp. 1,609,057 20,194
Fresh Del Monte Produce Inc. 442,191 20,005
MDC Holdings Inc. 677,861 18,926
* Avon Products Inc. 6,650,071 18,886
Seaboard Corp. 4,385 18,702
Universal Corp. 378,104 18,338
Columbia Sportswear Co. 237,603 18,160
Schweitzer-Mauduit International Inc. 462,663 18,113
Lancaster Colony Corp. 145,380 17,902
* Crocs Inc. 998,810 16,231
* Modine Manufacturing Co. 723,415 15,300
Steelcase Inc. Class A 1,099,814 14,957
Knoll Inc. 706,769 14,270
* Vista Outdoor Inc. 867,983 14,165
Briggs & Stratton Corp. 611,533 13,093
Andersons Inc. 385,219 12,751
Inter Parfums Inc. 256,587 12,098

 

 

  Dean Foods Co. 1,377,552 11,875
  Acushnet Holdings Corp. 504,553 11,650
  Movado Group Inc. 237,587 9,123
  Oxford Industries Inc. 119,923 8,941
  Ethan Allen Interiors Inc. 378,219 8,680
*,^ Fossil Group Inc. 659,785 8,379
  National Presto Industries Inc. 78,594 7,368
* Central Garden & Pet Co. 152,752 6,568
^ Tootsie Roll Industries Inc. 205,825 6,062
  Phibro Animal Health Corp. Class A 149,834 5,948
  Titan International Inc. 389,325 4,909
  Superior Industries International Inc. 362,093 4,816
*,^ GoPro Inc. Class A 835,829 4,004
      2,070,042
Consumer Services (11.1%)    
  KAR Auction Services Inc. 2,034,348 110,262
  Service Corp. International 2,660,612 100,412
* JetBlue Airways Corp. 4,870,418 98,967
  Foot Locker Inc. 1,834,353 83,536
  H&R Block Inc. 3,163,833 80,393
  Chemed Corp. 241,587 65,919
  Dun & Bradstreet Corp. 559,792 65,496
  Williams-Sonoma Inc. 1,146,366 60,482
  Cinemark Holdings Inc. 1,586,269 59,755
  Cracker Barrel Old Country Store Inc. 363,287 57,835
  Extended Stay America Inc. 2,907,990 57,491
* Beacon Roofing Supply Inc. 1,029,130 54,616
* ServiceMaster Global Holdings Inc. 1,022,126 51,975
  Aaron's Inc. 1,070,824 49,900
* Avis Budget Group Inc. 1,047,387 49,060
  Tribune Media Co. Class A 1,188,637 48,152
  American Eagle Outfitters Inc. 2,414,714 48,125
  Wendy's Co. 2,729,300 47,899
  New York Times Co. Class A 1,953,352 47,076
  AMERCO 133,481 46,064
* Performance Food Group Co. 1,492,942 44,564
  John Wiley & Sons Inc. Class A 685,941 43,694
  Bed Bath & Beyond Inc. 2,047,563 42,978
* AutoNation Inc. 903,259 42,254
  Dick's Sporting Goods Inc. 1,188,827 41,668
* Adtalem Global Education Inc. 866,819 41,217
  SkyWest Inc. 745,261 40,542
  Graham Holdings Co. Class B 65,756 39,602
* AMC Networks Inc. Class A 762,239 39,408
  Hillenbrand Inc. 858,105 39,387
* Urban Outfitters Inc. 1,064,536 39,345
* Spirit Airlines Inc. 1,032,183 38,996
  TEGNA Inc. 3,258,664 37,116
  Lithia Motors Inc. Class A 362,609 36,449
  Sinclair Broadcast Group Inc. Class A 1,151,871 36,054
  Children's Place Inc. 263,294 35,611
* Murphy USA Inc. 487,114 35,462
  Signet Jewelers Ltd. 916,054 35,286
  Sabre Corp. 1,586,069 34,021
* TripAdvisor Inc. 812,317 33,216
* United Natural Foods Inc. 762,749 32,752
* Penn National Gaming Inc. 1,241,165 32,593

 

 

  Meredith Corp. 600,237 32,293
* Sally Beauty Holdings Inc. 1,894,158 31,159
  Bloomin' Brands Inc. 1,243,992 30,204
* Cars.com Inc. 1,027,611 29,112
  Hawaiian Holdings Inc. 738,675 28,587
* Weight Watchers International Inc. 439,944 28,033
  Dolby Laboratories Inc. Class A 436,364 27,735
  Big Lots Inc. 636,577 27,710
*,^ Rite Aid Corp. 16,182,852 27,187
* Acxiom Corp. 1,139,373 25,875
  Cable One Inc. 36,772 25,266
  Brinker International Inc. 699,412 25,249
  Abercrombie & Fitch Co. 1,032,190 24,989
* Herc Holdings Inc. 364,985 23,706
* La Quinta Holdings Inc. 1,240,809 23,464
  Matthews International Corp. Class A 463,139 23,435
  DSW Inc. Class A 1,040,572 23,371
  Penske Automotive Group Inc. 517,837 22,956
* Asbury Automotive Group Inc. 314,170 21,206
* Rush Enterprises Inc. Class A 473,120 20,103
* MSG Networks Inc. 884,635 19,993
  Caleres Inc. 583,456 19,604
  Group 1 Automotive Inc. 299,884 19,594
  GameStop Corp. Class A 1,536,259 19,388
  Tailored Brands Inc. 743,121 18,623
  Entercom Communications Corp. Class A 1,877,394 18,117
  Guess? Inc. 868,811 18,019
  Chico's FAS Inc. 1,927,716 17,427
  Dine Brands Global Inc. 257,861 16,911
  Strayer Education Inc. 166,803 16,855
  Gannett Co. Inc. 1,687,053 16,837
  Office Depot Inc. 7,791,548 16,752
* Michaels Cos. Inc. 820,182 16,166
  International Speedway Corp. Class A 351,048 15,481
  Capella Education Co. 175,536 15,333
  Cheesecake Factory Inc. 312,580 15,073
* Hertz Global Holdings Inc. 758,277 15,052
  Dillard's Inc. Class A 184,692 14,838
  Scholastic Corp. 376,065 14,606
  Core-Mark Holding Co. Inc. 661,929 14,073
*,^ Party City Holdco Inc. 874,689 13,645
*,^ JC Penney Co. Inc. 4,490,542 13,561
*,^ SeaWorld Entertainment Inc. 816,554 12,110
* Liberty TripAdvisor Holdings Inc. Class A 1,081,545 11,627
* Genesco Inc. 284,665 11,557
* Houghton Mifflin Harcourt Co. 1,571,225 10,920
* Laureate Education Inc. Class A 776,558 10,678
  Buckle Inc. 449,203 9,950
  SUPERVALU Inc. 587,885 8,953
*,^ Roku Inc. 274,602 8,540
* Express Inc. 1,188,683 8,511
* K12 Inc. 587,146 8,326
* Regis Corp. 534,594 8,088
  Finish Line Inc. Class A 557,441 7,548
  Emerald Expositions Events Inc. 378,822 7,379
* Biglari Holdings Inc. 17,803 7,271
* Zumiez Inc. 290,022 6,932

 

 

  Sonic Automotive Inc. Class A 358,723 6,798
  New Media Investment Group Inc. 376,407 6,452
* Fiesta Restaurant Group Inc. 326,653 6,043
  National CineMedia Inc. 1,141,876 5,926
  Weis Markets Inc. 143,967 5,900
* Ascena Retail Group Inc. 2,853,428 5,735
  AMC Entertainment Holdings Inc. Class A 401,363 5,639
^ Rent-A-Center Inc. 652,317 5,630
  EW Scripps Co. Class A 428,838 5,142
* American Public Education Inc. 118,790 5,108
* Rush Enterprises Inc. Class B 97,636 3,943
* Bojangles' Inc. 255,794 3,543
* Hibbett Sports Inc. 143,747 3,443
*,^ Lands' End Inc. 147,102 3,435
  Speedway Motorsports Inc. 187,357 3,339
* El Pollo Loco Holdings Inc. 319,796 3,038
*,^ Stitch Fix Inc. Class A 138,482 2,808
  Clear Channel Outdoor Holdings Inc. Class A 570,690 2,796
  Cato Corp. Class A 166,281 2,451
* Smart & Final Stores Inc. 393,018 2,181
  Pier 1 Imports Inc. 595,393 1,917
*,^ GNC Holdings Inc. Class A 494,132 1,907
  Barnes & Noble Inc. 382,782 1,895
*,^ Sears Holdings Corp. 248,339 663
  ILG Inc. 630 20
  Boyd Gaming Corp. 470 15
* Cargurus Inc. 70 3
* National Vision Holdings Inc. 24 1
* FTD Cos. Inc. 100 —
      3,247,379
Financials (31.1%)    
  East West Bancorp Inc. 2,188,175 136,848
  American Financial Group Inc. 1,068,065 119,858
  Gaming and Leisure Properties Inc. 3,065,673 102,608
  WP Carey Inc. 1,616,803 100,226
  Apartment Investment & Management Co. 2,376,125 96,827
  Eaton Vance Corp. 1,697,014 94,473
  First American Financial Corp. 1,595,416 93,619
  First Horizon National Corp. 4,940,637 93,032
  Cullen/Frost Bankers Inc. 867,773 92,045
  National Retail Properties Inc. 2,323,992 91,240
  Brown & Brown Inc. 3,550,774 90,332
  Janus Henderson Group plc 2,729,588 90,322
  Liberty Property Trust 2,231,135 88,643
  Commerce Bancshares Inc. 1,454,038 87,111
  Synovus Financial Corp. 1,710,207 85,408
  RenaissanceRe Holdings Ltd. 605,258 83,834
  New Residential Investment Corp. 5,089,018 83,714
  Old Republic International Corp. 3,797,376 81,454
  LPL Financial Holdings Inc. 1,294,054 79,028
  Starwood Property Trust Inc. 3,753,387 78,633
  Webster Financial Corp. 1,394,689 77,266
  Validus Holdings Ltd. 1,140,319 76,914
  Hanover Insurance Group Inc. 643,053 75,810
  Park Hotels & Resorts Inc. 2,741,374 74,072
  Forest City Realty Trust Inc. Class A 3,633,514 73,615
  Wintrust Financial Corp. 847,398 72,919

 

 

* MGIC Investment Corp. 5,607,998 72,904
Assurant Inc. 794,474 72,623
Prosperity Bancshares Inc. 999,104 72,565
Umpqua Holdings Corp. 3,337,451 71,455
Interactive Brokers Group Inc. 1,026,968 69,053
Axis Capital Holdings Ltd. 1,195,673 68,835
Rayonier Inc. 1,951,170 68,642
Highwoods Properties Inc. 1,563,090 68,495
Hancock Holding Co. 1,289,617 66,673
FNB Corp. 4,899,418 65,897
Associated Banc-Corp 2,608,215 64,814
Primerica Inc. 669,238 64,648
BankUnited Inc. 1,616,574 64,631
Popular Inc. 1,544,715 64,291
IBERIABANK Corp. 815,561 63,614
Radian Group Inc. 3,265,466 62,174
EPR Properties 1,115,114 61,777
Assured Guaranty Ltd. 1,688,837 61,136
Hospitality Properties Trust 2,363,022 59,879
Valley National Bancorp 4,737,815 59,033
Chemical Financial Corp. 1,076,204 58,847
Stifel Financial Corp. 984,127 58,290
Apple Hospitality REIT Inc. 3,311,512 58,183
Senior Housing Properties Trust 3,595,132 56,300
Realogy Holdings Corp. 2,063,324 56,287
Cousins Properties Inc. 6,357,206 55,181
* Equity Commonwealth 1,789,691 54,890
CNO Financial Group Inc. 2,526,101 54,741
JBG SMITH Properties 1,604,594 54,091
Selective Insurance Group Inc. 887,212 53,854
Investors Bancorp Inc. 3,939,643 53,737
Bank of Hawaii Corp. 642,538 53,395
TCF Financial Corp. 2,339,302 53,359
United Bankshares Inc. 1,510,534 53,246
First Industrial Realty Trust Inc. 1,813,391 53,005
Navient Corp. 3,977,479 52,185
Legg Mason Inc. 1,279,183 51,999
Sunstone Hotel Investors Inc. 3,410,310 51,905
Weingarten Realty Investors 1,846,366 51,846
RLJ Lodging Trust 2,647,380 51,465
LaSalle Hotel Properties 1,713,665 49,713
BGC Partners Inc. Class A 3,694,749 49,694
Taubman Centers Inc. 872,784 49,670
UMB Financial Corp. 681,436 49,329
^ Blackstone Mortgage Trust Inc. Class A 1,556,770 48,914
MB Financial Inc. 1,206,028 48,820
PacWest Bancorp 976,272 48,355
South State Corp. 556,395 47,460
Fulton Financial Corp. 2,651,692 47,068
Chimera Investment Corp. 2,701,040 47,025
PotlatchDeltic Corp. 899,538 46,821
Cathay General Bancorp 1,163,442 46,514
BancorpSouth Bank 1,456,337 46,311
Columbia Banking System Inc. 1,103,488 46,291
Glacier Bancorp Inc. 1,203,284 46,182
Federated Investors Inc. Class B 1,374,097 45,895
* SLM Corp. 4,084,993 45,793

 

 

MFA Financial Inc. 6,029,691 45,404
Erie Indemnity Co. Class A 383,744 45,144
Washington Federal Inc. 1,301,609 45,036
First Financial Bankshares Inc. 969,972 44,910
White Mountains Insurance Group Ltd. 53,921 44,351
Brandywine Realty Trust 2,693,579 42,774
EastGroup Properties Inc. 498,704 41,223
Community Bank System Inc. 767,159 41,089
Two Harbors Investment Corp. 2,641,559 40,601
Omega Healthcare Investors Inc. 1,500,507 40,574
Aspen Insurance Holdings Ltd. 900,182 40,373
Empire State Realty Trust Inc. 2,399,975 40,296
National Health Investors Inc. 596,944 40,168
RLI Corp. 632,636 40,103
Outfront Media Inc. 2,098,253 39,321
ProAssurance Corp. 808,383 39,247
Old National Bancorp 2,300,174 38,873
Retail Properties of America Inc. 3,323,431 38,751
GEO Group Inc. 1,877,523 38,433
First Midwest Bancorp Inc. 1,553,721 38,206
First Citizens BancShares Inc. Class A 91,629 37,865
American Equity Investment Life Holding Co. 1,284,994 37,727
Columbia Property Trust Inc. 1,815,157 37,138
First Financial Bancorp 1,261,971 37,039
Sterling Bancorp 1,616,490 36,452
Piedmont Office Realty Trust Inc. Class A 2,046,518 35,998
United Community Banks Inc. 1,137,072 35,988
Great Western Bancorp Inc. 891,310 35,893
CVB Financial Corp. 1,584,433 35,872
Hope Bancorp Inc. 1,946,648 35,410
Brixmor Property Group Inc. 2,305,855 35,164
CoreCivic Inc. 1,790,038 34,942
BOK Financial Corp. 347,048 34,354
* OneMain Holdings Inc. 1,131,690 33,883
Kemper Corp. 584,437 33,313
Apollo Commercial Real Estate Finance Inc. 1,840,685 33,095
International Bancshares Corp. 848,636 33,012
DDR Corp. 4,464,495 32,725
Washington REIT 1,184,391 32,334
Xenia Hotels & Resorts Inc. 1,613,426 31,817
DiamondRock Hospitality Co. 3,034,921 31,685
Tanger Factory Outlet Centers Inc. 1,431,612 31,495
* Enstar Group Ltd. 149,067 31,341
Acadia Realty Trust 1,266,943 31,167
First Merchants Corp. 742,715 30,971
Trustmark Corp. 973,798 30,344
* HRG Group Inc. 1,835,477 30,267
Renasant Corp. 707,234 30,100
Independent Bank Corp. 414,167 29,634
Argo Group International Holdings Ltd. 489,656 28,106
Invesco Mortgage Capital Inc. 1,686,148 27,619
* Quality Care Properties Inc. 1,419,995 27,590
Banner Corp. 496,477 27,549
WesBanco Inc. 630,956 26,689
Santander Consumer USA Holdings Inc. 1,629,747 26,565
Horace Mann Educators Corp. 615,706 26,321
Lexington Realty Trust 3,269,149 25,728

 

 

Walker & Dunlop Inc. 422,031 25,077
* PRA Group Inc. 647,385 24,601
Capitol Federal Financial Inc. 1,981,808 24,475
Artisan Partners Asset Management Inc. Class A 731,764 24,368
Waddell & Reed Financial Inc. Class A 1,195,797 24,167
Chesapeake Lodging Trust 865,694 24,075
Alexander & Baldwin Inc. 1,033,064 23,895
Sabra Health Care REIT Inc. 1,346,157 23,760
First Hawaiian Inc. 843,235 23,467
Provident Financial Services Inc. 903,685 23,125
Northwest Bancshares Inc. 1,395,647 23,112
LTC Properties Inc. 597,041 22,688
NBT Bancorp Inc. 624,093 22,143
Berkshire Hills Bancorp Inc. 580,767 22,040
Westamerica Bancorporation 377,684 21,936
Navigators Group Inc. 378,931 21,845
National General Holdings Corp. 885,735 21,532
* FGL Holdings 2,110,302 21,420
* Genworth Financial Inc. Class A 7,538,088 21,333
First Commonwealth Financial Corp. 1,470,408 20,777
Mack-Cali Realty Corp. 1,224,619 20,463
Government Properties Income Trust 1,496,328 20,440
Park National Corp. 196,354 20,374
AmTrust Financial Services Inc. 1,627,679 20,037
S&T Bancorp Inc. 501,293 20,022
Mercury General Corp. 418,003 19,174
Boston Private Financial Holdings Inc. 1,271,766 19,140
* Cannae Holdings Inc. 1,010,950 19,067
Employers Holdings Inc. 464,815 18,802
Washington Prime Group Inc. 2,805,909 18,715
* First BanCorp 3,101,155 18,669
Infinity Property & Casualty Corp. 156,883 18,575
Select Income REIT 945,191 18,412
Ladder Capital Corp. Class A 1,208,102 18,218
Redwood Trust Inc. 1,164,623 18,017
Piper Jaffray Cos. 216,603 17,989
First Interstate BancSystem Inc. Class A 453,396 17,932
Brookline Bancorp Inc. 1,098,531 17,796
Union Bankshares Corp. 474,784 17,429
Global Net Lease Inc. 1,015,774 17,146
State Bank Financial Corp. 558,743 16,768
Safety Insurance Group Inc. 218,135 16,764
* Encore Capital Group Inc. 369,647 16,708
Tompkins Financial Corp. 218,621 16,563
NRG Yield Inc. 964,745 16,401
Beneficial Bancorp Inc. 1,028,738 15,997
PennyMac Mortgage Investment Trust 879,301 15,854
CYS Investments Inc. 2,341,289 15,733
City Holding Co. 223,911 15,351
ARMOUR Residential REIT Inc. 633,188 14,741
United Fire Group Inc. 300,395 14,377
American National Insurance Co. 122,113 14,282
Ramco-Gershenson Properties Trust 1,138,183 14,068
BancFirst Corp. 263,660 14,000
^ Seritage Growth Properties Class A 390,209 13,872
Franklin Street Properties Corp. 1,535,989 12,918
TPG RE Finance Trust Inc. 642,142 12,772

 

 

  Virtus Investment Partners Inc. 102,625 12,705
  MTGE Investment Corp. 691,537 12,378
  Virtu Financial Inc. Class A 370,450 12,225
  Central Pacific Financial Corp. 429,366 12,220
*,^ MBIA Inc. 1,318,201 12,207
  Capstead Mortgage Corp. 1,411,143 12,206
  Cadence BanCorp Class A 440,161 11,986
  Getty Realty Corp. 473,634 11,945
^ Colony Northstar Credit Real Estate Inc. Class A 617,568 11,703
  InfraREIT Inc. 594,423 11,550
  Universal Health Realty Income Trust 184,710 11,101
  Summit Hotel Properties Inc. 798,173 10,863
* Flagstar Bancorp Inc. 300,366 10,633
  Houlihan Lokey Inc. Class A 235,677 10,511
  Nelnet Inc. Class A 199,091 10,434
  FBL Financial Group Inc. Class A 149,019 10,334
  Hersha Hospitality Trust Class A 573,234 10,261
^ CBL & Associates Properties Inc. 2,455,237 10,238
  VICI Properties Inc. 558,259 10,227
  National Western Life Group Inc. Class A 33,364 10,172
  Granite Point Mortgage Trust Inc. 614,231 10,159
* iStar Inc. 989,367 10,062
^ Pennsylvania REIT 1,017,719 9,821
  American Assets Trust Inc. 284,450 9,503
  Investors Real Estate Trust 1,791,039 9,295
  Saul Centers Inc. 180,772 9,214
  Ashford Hospitality Trust Inc. 1,397,021 9,025
  Oritani Financial Corp. 585,337 8,985
  NRG Yield Inc. Class A 535,052 8,796
  Urstadt Biddle Properties Inc. Class A 444,387 8,577
  Dime Community Bancshares Inc. 459,202 8,449
* Nationstar Mortgage Holdings Inc. 449,803 8,078
  AG Mortgage Investment Trust Inc. 432,116 7,506
  State Auto Financial Corp. 259,627 7,418
  KKR Real Estate Finance Trust Inc. 369,093 7,404
* World Acceptance Corp. 68,455 7,208
  Anworth Mortgage Asset Corp. 1,499,791 7,199
  Maiden Holdings Ltd. 1,102,565 7,167
* Greenlight Capital Re Ltd. Class A 441,326 7,083
  OFG Bancorp 673,222 7,035
* Ocwen Financial Corp. 1,678,295 6,915
* Tejon Ranch Co. 277,226 6,407
  Americold Realty Trust 323,104 6,165
* Industrial Logistics Properties Trust 294,243 5,985
  Greenhill & Co. Inc. 301,496 5,578
*,^ New York REIT Inc. 255,678 5,500
* Ambac Financial Group Inc. 325,983 5,111
  Northfield Bancorp Inc. 319,628 4,989
* EZCORP Inc. Class A 359,350 4,743
  Investment Technology Group Inc. 239,856 4,735
*,^ Altisource Portfolio Solutions SA 141,758 3,765
* MoneyGram International Inc. 414,014 3,569
*,^ Forestar Group Inc. 162,991 3,447
^ Associated Capital Group Inc. Class A 48,784 1,827
  GAMCO Investors Inc. Class A 60,627 1,505
*,^ Longfin Corp. 62,212 1,074
* Victory Capital Holdings Inc. Class A 78,125 961

 

 

  Urstadt Biddle Properties Inc. 32,047 544
* Bridgewater Bancshares Inc. 16,095 210
* Green Dot Corp. Class A 270 17
* Newmark Group Inc. Class A 120 2
      9,118,074
Health Care (5.4%)    
* WellCare Health Plans Inc. 673,886 130,485
* Sage Therapeutics Inc. 658,083 105,997
  Teleflex Inc. 350,319 89,324
  Hill-Rom Holdings Inc. 1,001,234 87,107
  Encompass Health Corp. 1,413,210 80,793
* MEDNAX Inc. 1,418,479 78,910
* Charles River Laboratories International Inc. 717,631 76,600
* Envision Healthcare Corp. 1,830,925 70,362
* United Therapeutics Corp. 621,445 69,826
  STERIS plc 641,802 59,919
* Blueprint Medicines Corp. 595,488 54,606
* Loxo Oncology Inc. 384,937 44,410
* Magellan Health Inc. 363,283 38,908
* Tenet Healthcare Corp. 1,527,642 37,045
* Molina Healthcare Inc. 408,748 33,182
* Halyard Health Inc. 709,130 32,677
* Myriad Genetics Inc. 1,056,821 31,229
* Aerie Pharmaceuticals Inc. 570,575 30,954
* Haemonetics Corp. 404,174 29,569
* LifePoint Health Inc. 596,861 28,052
* Select Medical Holdings Corp. 1,604,712 27,681
  Patterson Cos. Inc. 1,221,113 27,145
* Prestige Brands Holdings Inc. 803,260 27,086
* LHC Group Inc. 405,784 24,980
  CONMED Corp. 379,222 24,016
* AnaptysBio Inc. 213,498 22,221
* Impax Laboratories Inc. 1,120,584 21,795
* Mallinckrodt plc 1,433,927 20,763
* Brookdale Senior Living Inc. 2,815,330 18,891
* Clovis Oncology Inc. 351,222 18,545
* Endo International plc 3,032,858 18,015
  Owens & Minor Inc. 923,495 14,360
* Intra-Cellular Therapies Inc. 658,169 13,854
* Kindred Healthcare Inc. 1,311,921 12,004
  Ensign Group Inc. 371,773 9,778
  Analogic Corp. 93,202 8,938
  Invacare Corp. 501,872 8,733
  National HealthCare Corp. 139,485 8,318
*,^ Lannett Co. Inc. 513,517 8,242
*,^ Community Health Systems Inc. 1,668,435 6,607
*,^ Synergy Pharmaceuticals Inc. 3,595,441 6,580
* PDL BioPharma Inc. 2,207,663 6,491
* American Renal Associates Holdings Inc. 193,174 3,641
*,^ Denali Therapeutics Inc. 105,228 2,072
* Depomed Inc. 214,681 1,415
*,^ NantKwest Inc. 176,866 688
* Unum Therapeutics Inc. 59,755 664
* Bioxcel Therapeutics Inc. 47,941 491
* ARMO BioSciences Inc. 8,018 300
* Evolus Inc. 30,711 277
* Arcus Biosciences Inc. 11,018 170

 

 

* Wright Medical Group Inc. CVR 71,097 95
* Homology Medicines Inc. 3,024 57
* Aimmune Therapeutics Inc. 235 8
* PTC Therapeutics Inc. 120 3
* Akcea Therapeutics Inc. 80 2
* Celldex Therapeutics Inc. 405 1
    1,574,882
Industrials (19.6%)    
IDEX Corp. 1,158,346 165,076
Spirit AeroSystems Holdings Inc. Class A 1,731,511 144,927
PerkinElmer Inc. 1,668,040 126,304
Allegion plc 1,440,018 122,819
Orbital ATK Inc. 874,281 115,938
Carlisle Cos. Inc. 935,163 97,640
Donaldson Co. Inc. 1,963,662 88,463
Oshkosh Corp. 1,129,928 87,310
* AECOM 2,409,141 85,838
Lincoln Electric Holdings Inc. 944,889 84,993
AptarGroup Inc. 941,873 84,608
MDU Resources Group Inc. 2,954,398 83,196
Curtiss-Wright Corp. 600,398 81,096
Booz Allen Hamilton Holding Corp. Class A 2,085,297 80,743
* Quanta Services Inc. 2,342,404 80,462
Avnet Inc. 1,814,227 75,762
Trinity Industries Inc. 2,282,772 74,487
* Keysight Technologies Inc. 1,419,170 74,350
Sonoco Products Co. 1,504,330 72,960
Jabil Inc. 2,519,596 72,388
Graphic Packaging Holding Co. 4,687,405 71,952
Crane Co. 763,373 70,795
EMCOR Group Inc. 883,053 68,816
AGCO Corp. 1,023,585 66,379
* Genesee & Wyoming Inc. Class A 933,294 66,068
ITT Inc. 1,335,611 65,418
* Kirby Corp. 812,651 62,533
MSC Industrial Direct Co. Inc. Class A 681,853 62,533
Bemis Co. Inc. 1,374,233 59,807
Ryder System Inc. 801,670 58,354
* Conduent Inc. 3,023,842 56,364
* CoreLogic Inc. 1,245,759 56,346
* KLX Inc. 761,406 54,106
Deluxe Corp. 728,335 53,904
* Owens-Illinois Inc. 2,469,088 53,480
Brink's Co. 725,646 51,775
Kennametal Inc. 1,235,040 49,599
Regal Beloit Corp. 670,517 49,182
Timken Co. 1,061,128 48,387
Valmont Industries Inc. 324,967 47,543
* MasTec Inc. 1,002,029 47,145
* Rexnord Corp. 1,572,871 46,683
Barnes Group Inc. 764,445 45,783
* WESCO International Inc. 712,233 44,194
EnerSys 633,758 43,964
Belden Inc. 634,922 43,772
Terex Corp. 1,164,734 43,573
MSA Safety Inc. 520,666 43,340
* Generac Holdings Inc. 942,967 43,292

 

 

Flowserve Corp. 986,531 42,746
Applied Industrial Technologies Inc. 584,458 42,607
Korn/Ferry International 810,656 41,822
Tetra Tech Inc. 844,786 41,352
Packaging Corp. of America 357,194 40,256
GATX Corp. 575,380 39,408
* Colfax Corp. 1,214,145 38,731
* Moog Inc. Class A 464,938 38,316
* Stericycle Inc. 646,113 37,817
UniFirst Corp. 233,842 37,801
Vishay Intertechnology Inc. 1,998,861 37,179
KBR Inc. 2,121,224 34,343
ABM Industries Inc. 992,831 33,240
* Esterline Technologies Corp. 449,586 32,887
Watts Water Technologies Inc. Class A 419,853 32,623
Silgan Holdings Inc. 1,170,365 32,595
* Anixter International Inc. 428,051 32,425
Louisiana-Pacific Corp. 1,097,167 31,565
Convergys Corp. 1,383,233 31,289
* Plexus Corp. 510,256 30,478
* SPX FLOW Inc. 610,691 30,040
Mobile Mini Inc. 671,162 29,196
Universal Forest Products Inc. 876,502 28,442
* Meritor Inc. 1,350,851 27,773
* FTI Consulting Inc. 565,266 27,365
* Integer Holdings Corp. 478,066 27,035
* Sanmina Corp. 1,025,718 26,823
Kaman Corp. 420,451 26,118
* Navistar International Corp. 746,116 26,092
Otter Tail Corp. 598,715 25,954
Brady Corp. Class A 691,312 25,682
* Harsco Corp. 1,217,998 25,152
World Fuel Services Corp. 1,023,907 25,137
Triton International Ltd. 794,879 24,323
Werner Enterprises Inc. 658,379 24,031
* Atlas Air Worldwide Holdings Inc. 384,829 23,263
Macquarie Infrastructure Corp. 610,500 22,546
Boise Cascade Co. 581,520 22,447
Benchmark Electronics Inc. 750,517 22,403
Chicago Bridge & Iron Co. NV 1,550,490 22,327
Greif Inc. Class A 423,340 22,120
AAR Corp. 497,683 21,953
Greenbrier Cos. Inc. 435,301 21,874
ManTech International Corp. Class A 392,401 21,766
Mueller Industries Inc. 831,587 21,754
ESCO Technologies Inc. 370,574 21,697
* Cotiviti Holdings Inc. 627,458 21,610
General Cable Corp. 728,547 21,565
* TTM Technologies Inc. 1,383,749 21,158
* Milacron Holdings Corp. 1,047,916 21,105
Actuant Corp. Class A 905,983 21,064
Altra Industrial Motion Corp. 441,930 20,307
* Hub Group Inc. Class A 479,551 20,069
* SPX Corp. 613,582 19,929
Maxar Technologies Ltd. 423,864 19,604
* Armstrong World Industries Inc. 347,517 19,565
H&E Equipment Services Inc. 484,514 18,649

 

 

  McGrath RentCorp 344,430 18,492
  Standex International Corp. 193,583 18,458
* TriMas Corp. 689,750 18,106
  Triumph Group Inc. 712,328 17,951
* Sykes Enterprises Inc. 615,421 17,810
* OSI Systems Inc. 272,751 17,802
  Wabash National Corp. 845,734 17,600
  Matson Inc. 608,711 17,433
  Astec Industries Inc. 313,391 17,293
* Knowles Corp. 1,351,653 17,017
  Encore Wire Corp. 298,498 16,925
  Granite Construction Inc. 301,044 16,816
  Aircastle Ltd. 831,416 16,512
* TrueBlue Inc. 624,298 16,169
* JELD-WEN Holding Inc. 516,745 15,823
  Primoris Services Corp. 620,535 15,501
  Materion Corp. 303,054 15,471
* Cardtronics plc Class A 689,371 15,380
* GMS Inc. 495,333 15,137
  EVERTEC Inc. 872,272 14,262
  MTS Systems Corp. 269,041 13,896
  Manitowoc Co. Inc. 479,981 13,660
* Navigant Consulting Inc. 690,069 13,277
* Tutor Perini Corp. 601,145 13,255
^ Sturm Ruger & Co. Inc. 249,393 13,093
  Kelly Services Inc. Class A 447,189 12,986
* Huron Consulting Group Inc. 332,918 12,684
  Schnitzer Steel Industries Inc. 390,608 12,636
  AVX Corp. 757,971 12,544
  Quad/Graphics Inc. 469,045 11,890
* Atkore International Group Inc. 595,223 11,815
  ArcBest Corp. 368,558 11,812
  Comfort Systems USA Inc. 284,017 11,716
* Gates Industrial Corp. plc 655,864 11,484
  CIRCOR International Inc. 254,503 10,857
* Aegion Corp. Class A 460,544 10,551
  Griffon Corp. 542,580 9,902
  Kforce Inc. 364,973 9,873
  RR Donnelley & Sons Co. 1,054,192 9,203
* Donnelley Financial Solutions Inc. 516,096 8,861
  LSC Communications Inc. 507,029 8,848
  Hyster-Yale Materials Handling Inc. 123,219 8,617
* Wesco Aircraft Holdings Inc. 838,119 8,591
* TimkenSteel Corp. 536,788 8,154
  RPX Corp. 719,211 7,688
  Resources Connection Inc. 442,057 7,161
  TTEC Holdings Inc. 210,464 6,461
*,^ Team Inc. 435,462 5,988
* MACOM Technology Solutions Holdings Inc. 340,245 5,648
  American Railcar Industries Inc. 117,008 4,377
* American Outdoor Brands Corp. 408,324 4,214
  Greif Inc. Class B 53,411 3,111
* International Seaways Inc. 166,205 2,925
  Park Electrochemical Corp. 144,717 2,437
* PHH Corp. 231,828 2,425
* Armstrong Flooring Inc. 156,598 2,125
*,^ Forterra Inc. 149,291 1,242

 

 

* Cardlytics Inc. 19,650 287
  Broadridge Financial Solutions Inc. 690 76
  Huntington Ingalls Industries Inc. 265 68
  BWX Technologies Inc. 590 37
  Essendant Inc. 210 2
* Babcock & Wilcox Enterprises Inc. 30 —
      5,734,300
Oil & Gas (4.4%)    
* First Solar Inc. 1,185,403 84,140
  Targa Resources Corp. 1,655,669 72,849
  HollyFrontier Corp. 1,342,098 65,575
* Transocean Ltd. 6,597,697 65,317
  Murphy Oil Corp. 2,480,731 64,102
  Range Resources Corp. 3,755,321 54,602
  PBF Energy Inc. Class A 1,581,938 53,628
  Helmerich & Payne Inc. 782,558 52,087
  Delek US Holdings Inc. 1,146,596 46,666
* Whiting Petroleum Corp. 1,372,612 46,449
* WPX Energy Inc. 3,013,289 44,536
*,^ Chesapeake Energy Corp. 13,072,349 39,478
* Oasis Petroleum Inc. 4,771,897 38,652
* QEP Resources Inc. 3,646,311 35,697
*,^ Weatherford International plc 15,042,235 34,447
* CNX Resources Corp. 2,201,936 33,976
  Nabors Industries Ltd. 4,572,762 31,964
  Ensco plc Class A 6,604,223 28,993
  Oceaneering International Inc. 1,488,685 27,600
* McDermott International Inc. 4,302,852 26,204
* Dril-Quip Inc. 571,489 25,603
  SemGroup Corp. Class A 1,192,355 25,516
* C&J Energy Services Inc. 931,358 24,048
* Oil States International Inc. 860,490 22,545
* Rowan Cos. plc Class A 1,906,245 21,998
* MRC Global Inc. 1,314,786 21,615
* Superior Energy Services Inc. 2,328,610 19,630
* NOW Inc. 1,639,026 16,751
* Denbury Resources Inc. 6,070,436 16,633
* Unit Corp. 798,327 15,775
  SM Energy Co. 842,186 15,185
* Noble Corp. plc 3,697,777 13,719
*,^ Diamond Offshore Drilling Inc. 932,061 13,664
* Exterran Corp. 510,394 13,628
* Helix Energy Solutions Group Inc. 2,118,417 12,266
  Archrock Inc. 1,065,036 9,319
  CVR Energy Inc. 265,889 8,035
* ProPetro Holding Corp. 475,386 7,554
*,^ SunPower Corp. Class A 946,145 7,550
* Forum Energy Technologies Inc. 621,227 6,834
* Alta Mesa Resources Inc. 805,602 6,445
* Ultra Petroleum Corp. 1,480,413 6,173
  Green Plains Inc. 298,931 5,022
*,^ Tellurian Inc. 596,240 4,299
* FTS International Inc. 206,031 3,789
* TETRA Technologies Inc. 847,988 3,180
*,^ EP Energy Corp. Class A 573,928 769
*,^ NextDecade Corp. 81,078 401
* Quintana Energy Services Inc. 19,635 191

 

 

* Chart Industries Inc. 180 11
* Cactus Inc. 140 4
* Liberty Oilfield Services Inc. Class A 85 1
* NCS Multistage Holdings Inc. 50 1
      1,295,116
Other (0.0%)2    
*,3 Herbalife Ltd. CVR 147,396 1,430
*,3 Babcock & Wilcox Enterprises Inc. Rights Exp. 04/10/2018 78 —
*,3 Clinical Data CVR 62,138 —
      1,430
Technology (8.1%)    
  CDW Corp. 2,316,937 162,904
* ON Semiconductor Corp. 6,440,256 157,529
  Leidos Holdings Inc. 2,285,040 149,442
  Teradyne Inc. 2,969,320 135,728
* CommScope Holding Co. Inc. 2,889,888 115,509
* Microsemi Corp. 1,779,082 115,142
  CSRA Inc. 2,480,772 102,282
  Cypress Semiconductor Corp. 4,798,189 81,377
  DST Systems Inc. 897,332 75,062
* Teradata Corp. 1,830,979 72,635
* ARRIS International plc 2,688,793 71,441
* Nuance Communications Inc. 4,441,875 69,959
* NCR Corp. 1,847,192 58,223
* CACI International Inc. Class A 372,604 56,394
  SYNNEX Corp. 455,332 53,911
* Tech Data Corp. 577,591 49,170
  Science Applications International Corp. 582,139 45,872
  Cabot Microelectronics Corp. 387,581 41,514
* Verint Systems Inc. 963,552 41,047
* MuleSoft Inc. Class A 907,028 39,891
* Semtech Corp. 1,004,804 39,238
* Viavi Solutions Inc. 3,420,604 33,248
* Cloudera Inc. 1,495,647 32,276
  Pitney Bowes Inc. 2,828,905 30,807
* Cree Inc. 755,341 30,448
* EchoStar Corp. Class A 545,496 28,786
*,^ Finisar Corp. 1,727,012 27,304
  Progress Software Corp. 701,583 26,976
* Premier Inc. Class A 826,959 25,892
* NETGEAR Inc. 450,226 25,753
* VeriFone Systems Inc. 1,672,422 25,722
* Synaptics Inc. 521,446 23,846
  TiVo Corp. 1,750,723 23,722
* Okta Inc. 580,544 23,135
  CSG Systems International Inc. 505,987 22,916
* Insight Enterprises Inc. 540,701 18,887
* Electronics For Imaging Inc. 689,864 18,854
* Avaya Holdings Corp. 829,658 18,584
* Blucora Inc. 661,793 16,280
^ Diebold Nixdorf Inc. 1,027,091 15,817
  Plantronics Inc. 248,806 15,020
* Amkor Technology Inc. 1,447,127 14,659
* ScanSource Inc. 385,509 13,705
* Syntel Inc. 500,005 12,765
* Web.com Group Inc. 699,711 12,665

 

 

  ADTRAN Inc. 722,627 11,237
* Quality Systems Inc. 808,512 11,036
*,^ Yext Inc. 688,583 8,710
* SailPoint Technologies Holding Inc. 405,836 8,397
*,^ Unisys Corp. 773,931 8,320
* Presidio Inc. 491,214 7,683
* FormFactor Inc. 542,717 7,408
* MongoDB Inc. 140,800 6,111
^ Computer Programs & Systems Inc. 198,728 5,803
  Systemax Inc. 112,790 3,220
* Synchronoss Technologies Inc. 272,613 2,876
* Zscaler Inc. 99,599 2,796
*,^ Appian Corp. Class A 94,711 2,385
* Casa Systems Inc. 65,641 1,926
* Ribbon Communications Inc. 337,228 1,720
  Ebix Inc. 130 10
* Alteryx Inc. Class A 135 5
      2,361,980
Telecommunications (0.4%)    
  Telephone & Data Systems Inc. 1,410,850 39,546
* Vonage Holdings Corp. 3,114,016 33,164
*,^ Iridium Communications Inc. 1,259,757 14,172
  Consolidated Communications Holdings Inc. 1,071,478 11,744
^ Frontier Communications Corp. 1,186,984 8,808
* United States Cellular Corp. 199,335 8,011
* Intelsat SA 407,743 1,533
      116,978
Utilities (6.2%)    
  Atmos Energy Corp. 1,690,350 142,395
  NRG Energy Inc. 4,552,488 138,987
  UGI Corp. 2,624,368 116,574
  Westar Energy Inc. Class A 2,151,796 113,163
  Great Plains Energy Inc. 3,266,403 103,839
  Aqua America Inc. 2,689,198 91,594
* Vistra Energy Corp. 3,890,959 81,049
  Vectren Corp. 1,257,940 80,407
  IDACORP Inc. 763,155 67,364
  WGL Holdings Inc. 779,230 65,183
  National Fuel Gas Co. 1,203,797 61,935
  Hawaiian Electric Industries Inc. 1,646,075 56,592
  ALLETE Inc. 774,085 55,928
  Portland General Electric Co. 1,350,770 54,720
  New Jersey Resources Corp. 1,334,867 53,528
  ONE Gas Inc. 799,509 52,784
  Avista Corp. 993,754 50,930
  Spire Inc. 698,478 50,500
  Southwest Gas Holdings Inc. 688,129 46,538
  PNM Resources Inc. 1,206,253 46,139
  Black Hills Corp. 810,473 44,009
  NorthWestern Corp. 749,923 40,346
  South Jersey Industries Inc. 1,210,868 34,098
  El Paso Electric Co. 614,832 31,356
  American States Water Co. 555,804 29,491
  MGE Energy Inc. 524,816 29,442
  California Water Service Group 727,182 27,088
  Northwest Natural Gas Co. 438,321 25,269

 

 

* Dynegy Inc.     1,089,078 14,724
* Evoqua Water Technologies Corp.     39 1
          1,805,973
Total Common Stocks (Cost $23,837,492)       29,157,754
    Coupon      
Temporary Cash Investments (0.6%)1        
Money Market Fund (0.6%)        
4,5 Vanguard Market Liquidity Fund 1.775%   1,664,440 166,444
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.0%)        
  United States Treasury Bill 1.398% 5/3/18 200 200
6 United States Treasury Bill 1.446% 5/31/18 2,265 2,259
6 United States Treasury Bill 1.578% 6/7/18 1,000 997
6 United States Treasury Bill 1.783% 6/21/18 1,000 996
6 United States Treasury Bill 1.512% 6/28/18 650 647
          5,099
Total Temporary Cash Investments (Cost $171,528)       171,543
Total Investments (100.2%) (Cost $24,009,020)       29,329,297
Other Assets and Liabilities-Net (-0.2%)5,7       (71,915)
Net Assets (100%)       29,257,382

 

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $94,186,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts and
swap contracts. After giving effect to futures and swap investments, the fund's effective common stock and
temporary cash investment positions represent 100.0% and 0.2%, respectively, of net assets.
2 “Other” represents securities that are not classified by the fund’s benchmark index.
3 Security value determined using significant unobservable inputs.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $102,216,000 of collateral received for securities on loan.
6 Securities with a value of $3,753,000 have been segregated as initial margin for open futures contracts.
7 Cash with a value of $10,000 has been segregated as collateral for open over-the-counter swap contracts.
CVR—Contingent Value Rights.
REIT—Real Estate Investment Trust.

 

Derivative Financial Instruments Outstanding as of Period End    
 
Futures Contracts      
      ($000)
      Value and
    Number of Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini Russell 2000 Index June 2018 867 66,378 (2,207) 

 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

 

Small-Cap Value Index Fund

Total Return Swaps          
        Floating Value and
        Interest Unrealized
      Notional Rate Appreciation
  Termination   Amount Received (Depreciation)
Reference Entity Date Counterparty ($000) (Paid)1 ($000)
Ambac Financial Group Inc. 4/11/18 GSCM 5,296 (2.208%) 456
SLM Corp. 5/9/18 GSCM 27,257 (2.208%) 56
          512
GSCM—Goldman Sachs Capital Management.
1 Payment received/paid monthly.

Unrealized appreciation (depreciation) on open swap contracts is required to be treated as ordinary income (loss) for tax purposes.

After March 31, 2018, the counterparty posted collateral of $510,000 in connection with open over-the-counter swap contracts as of March 31, 2018.

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 materially 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 board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. 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 valued with significant unobservable inputs are noted
on the Schedule of Investments.

 

Small-Cap Value Index Fund

The following table summarizes the market value of the fund's investments as of March 31, 2018, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 29,156,324 — 1,430
Temporary Cash Investments 166,444 5,099 —
Futures Contracts—Assets1 773 — —
Swap Contracts—Assets — 512 —
Total 29,323,541 5,611 1,430
1 Represents variation margin on the last day of the reporting period.

 

C. 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.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded as an asset (liability).

D. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks 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 invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

The notional amounts of swap contracts are not recorded in the Schedule of Investments. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as unrealized appreciation (depreciation) until termination of the swap, at which time realized gain (loss) is recorded.

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

 

Small-Cap Value Index Fund

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.

E. At March 31, 2018, the cost of investment securities for tax purposes was $24,015,022,000. Net unrealized appreciation of investment securities for tax purposes was $5,314,275,000, consisting of unrealized gains of $7,042,402,000 on securities that had risen in value since their purchase and $1,728,127,000 in unrealized losses on securities that had fallen in value since their purchase.


Item 2: Controls and Procedures

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. During the last fiscal quarter, there was no significant change in the Registrant’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3: Exhibits

(a) Certifications

  VANGUARD INDEX FUNDS

 

By:

 /s/ MORTIMER J. BUCKLEY*
  MORTIMER J. BUCKLEY
  CHIEF EXECUTIVE OFFICER

Date:  May 17, 2018

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

  VANGUARD INDEX FUNDS

 

By:

 /s/ MORTIMER J. BUCKLEY*
  MORTIMER J. BUCKLEY
  CHIEF EXECUTIVE OFFICER

Date:  May 17, 2018

 

 VANGUARD INDEX FUNDS

 

By:

 /s/ THOMAS J. HIGGINS*
  THOMAS J. HIGGINS
  CHIEF FINANCIAL OFFICER

Date:  May 17, 2018

 

*By: /s/ Anne E. Robinson
Anne E. Robinson, pursuant to a Power of Attorney filed on January 18, 2018 see file Number 33-32216, Incorporated by Reference.