N-Q 1 worldussector5487.htm VANGUARD WORLD FUNDS 5487

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: 811-1027

Name of Registrant: VANGUARD WORLD FUNDS

Address of Registrant: P.O. Box 2600
Valley Forge, PA 19482

Name and address of agent for service: R. Gregory Barton, Esquire
P.O. Box 876
Valley Forge, PA 19482

Registrant’s telephone number, including area code: (610) 669-1000


Date of fiscal year end: August 31

Date of reporting period: November 30, 2004

Item 1: Schedule of Investments


November 30, 2004

         Market 
         Value 
    Vanguard Information Technology Index Fund Shares  (000)



    COMMON STOCKS (99.9%)



    Advertising Agencies (0.1%)
  * ValueClick, Inc. 790  $10 
  * aQuantive, Inc. 509 
  * Marchex, Inc. 18 

          14 

    Biotech Research & Production
  * Accelrys Inc. 122 

    Chemicals
  * Cabot Microelectronics Corp. 220 

    Commercial Information Services (0.1%)
  * Ask Jeeves, Inc. 432  11 
  * CMGI Inc. 3,366 
  * infoUSA Inc. 419 

          21 

    Communications Technology (17.4%)
  * Cisco Systems, Inc. 60,711  1,136 
    QUALCOMM Inc. 14,904  620 
    Motorola, Inc. 21,561  415 
  * Corning, Inc. 12,650  159 
  * Lucent Technologies, Inc. 39,618  156 
  * Juniper Networks, Inc. 4,161  115 
  * Avaya Inc. 3,889  64 
  * NCR Corp. 878  52 
  * McAfee Inc. 1,541  45 
    Scientific-Atlanta, Inc. 1,438  43 
    Harris Corp. 626  41 
  * JDS Uniphase Corp. 12,956  41 
  * Comverse Technology, Inc. 1,821  39 
    Symbol Technologies, Inc. 2,163  33 
  * Tellabs, Inc. 3,532  30 
  * TIBCO Software Inc. 1,760  20 
  * Avocent Corp. 484  18 
  * Brocade Communications Systems, Inc. 2,523  17 
  * UTStarcom, Inc. 890  17 
  * ADC Telecommunications, Inc. 7,288  17 
  * Foundry Networks, Inc. 1,150  15 
  * 3Com Corp. 3,360  15 
    ADTRAN Inc. 607  14 
  * Tekelec 526  12 
  * CIENA Corp. 4,429  11 
    Anixter International Inc. 258  10 
  * CommScope, Inc. 492  10 
  * CSG Systems International, Inc. 466 
    Black Box Corp. 163 
  * j2 Global Communications, Inc. 192 
  * Extreme Networks, Inc. 968 
  * Sycamore Networks, Inc. 1,560 
  * WebEx Communications, Inc. 229 
  * Aspect Communications Corp. 500 
  * Harmonic, Inc. 680 
    Inter-Tel, Inc. 168 
  * ViaSat, Inc. 216 
  * Ditech Communications Corp. 278 
  * Novatel Wireless, Inc. 200 
  * SeaChange International, Inc. 224 
  * InterVoice, Inc. 284 
  * Standard Microsystem Corp. 140 
    Talx Corp. 112 
  * Enterasys Networks, Inc. 1,704 
  * Secure Computing Corp. 284 
  * Remec, Inc. 488 
  * Westell Technologies, Inc. 408 
  * Ixia 184 
  * Anaren, Inc. 180 
    Bel Fuse, Inc. Class B 68 
  * Finisar Corp. 1,268 
  * NETGEAR, Inc. 140 
  * Ulticom, Inc. 112 
  * Entrust, Inc. 528 
  * Avanex Corp. 620 
  * Echelon Corp. 232 
  * Oplink Communications, Inc. 800 
  * Net2Phone, Inc. 368 
    Bel Fuse, Inc. Class A 24 
  * Atheros Communications 38 
  * Stratex Networks, Inc. 27 

          3,284 

    Computer Services Software & Systems (24.7%)
    Microsoft Corp. 89,355  2,396 
  * Oracle Corp. 35,135  445 
  * Symantec Corp. 2,869  183 
    Adobe Systems, Inc. 2,201  133 
    Computer Associates International, Inc. 4,303  131 
  * Computer Sciences Corp. 1,717  93 
  * Veritas Software Corp. 3,970  87 
  * PeopleSoft, Inc. 3,047  72 
  * Intuit, Inc. 1,703  71 
    Autodesk, Inc. 1,062  69 
  * Affiliated Computer Services, Inc. Class A 1,146  68 
  * Cognizant Technology Solutions Corp. 1,192  45 
  * Siebel Systems, Inc. 4,464  45 
  * Mercury Interactive Corp. 862  39 
  * BMC Software, Inc. 2,016  37 
  * Citrix Systems, Inc. 1,584  37 
  * Cadence Design Systems, Inc. 2,504  34 
  * QLogic Corp. 842  29 
  * BEA Systems, Inc. 3,536  29 
  * Ceridian Corp. 1,332  25 
  * Novell, Inc. 3,682  22 
  * Red Hat, Inc. 1,396  20 
  * Compuware Corp. 3,480  20 
    Acxiom Corp. 784  20 
  * Macromedia, Inc. 620  18 
  * NAVTEQ Corp. 379  16 
  * Hyperion Solutions Corp. 357  16 
  * CACI International, Inc. 257  16 
  * Sybase, Inc. 888  15 
  * F5 Networks, Inc. 337  15 
    Reynolds & Reynolds Class A 599  14 
  * Parametric Technology Corp. 2,412  14 
    National Instruments Corp. 486  14 
  * MICROS Systems, Inc. 185  14 
  * Akamai Technologies, Inc. 1,033  13 
  * BearingPoint, Inc. 1,386  12 
  * Macrovision Corp. 453  12 
  * Websense, Inc. 235  11 
  * Anteon International Corp. 301  11 
  * Digital River, Inc. 256  11 
  * Internet Security Systems, Inc. 412  10 
  * ANSYS, Inc. 312  10 
  * Borland Software Corp. 772 
  * SRA International, Inc. 154 
  * Wind River Systems Inc. 700 
  * Ariba, Inc. 504 
  * Electronics for Imaging, Inc. 481 
  * Openwave Systems Inc. 604 
  * Mentor Graphics Corp. 608 
  * SafeNet, Inc. 210 
  * Epicor Software Corp. 464 
  * Ascential Software Corp. 529 
  * Progress Software Corp. 311 
  * MicroStrategy Inc. 109 
  * Keane, Inc. 428 
  * Transaction Systems Architects, Inc. 318 
  * Digitas Inc. 745 
  * SERENA Software, Inc. 292 
  * RealNetworks, Inc. 963 
  * Manhattan Associates, Inc. 248 
  * NetIQ Corp. 468 
  * Quest Software, Inc. 368 
  * Sapient Corp. 704 
  * Equinix, Inc. 142 
  * Informatica Corp. 668 
  * Ciber, Inc. 528 
  * Altiris, Inc. 160 
  * Zoran Corp. 377 
  * Verity, Inc. 312 
  * Micromuse Inc. 744 
  * Verint Systems Inc. 93 
  * Agile Software Corp. 428 
  * Packeteer, Inc. 264 
  * ManTech International Corp. 136 
  * Interwoven Inc. 328 
  * JDA Software Group, Inc. 236 
  * ScanSoft, Inc. 816 
  * Vignette Corp. 2,308 
  * SonicWALL, Inc. 464 
  * Pinnacle Systems, Inc. 540 
  * Magma Design Automation, Inc. 207 
  * ActivCard Corp. 348 
  * E.piphany Inc. 612 
  * SYNNEX Corp. 129 
  * OpenTV Corp. 680 
  * Retek Inc. 448 
  * webMethods, Inc. 432 
  * MatrixOne, Inc. 400 
  * MRO Software Inc. 204 
  * Opsware, Inc. 372 
  * Concur Technologies, Inc. 268 
  * PalmSource, Inc. 159 
  * Lawson Software Inc. 395 
  * Jupitermedia Corp. 145 
  * MSC Software Corp. 252 
  * SPSS, Inc. 144 
  * EPIQ Systems, Inc. 148 
  * Open Solutions Inc. 83 
  * Lionbridge Technologies, Inc. 368 
  * Keynote Systems Inc. 156 
  * Tyler Technologies, Inc. 236 
  * Manugistics Group, Inc. 584 
    Integral Systems, Inc. 80 
  * Digimarc Corp. 164 
  * PDF Solutions, Inc. 108 
  * PEC Solutions, Inc. 97 
  * Motive, Inc. 104 
  * Blue Coat Systems, Inc. 75 
  * SeeBeyond Technology Corp. 388 
  * SupportSoft, Inc. 235 
    Syntel, Inc. 53 
  * Tier Technologies, Inc. 110 
  * Embarcadero Technologies, Inc. 107 
  * Pegasystems Inc. 88 
  * Concord Communications, Inc. 68 
    QAD Inc. 72 
  * WatchGuard Technologies, Inc. 137 
  * iGATE Corp. 128 
    SS&C Technologies, Inc. 12 
  * NASSDA Corp. 11 

          4,680 

    Computer Technology (21.7%)
    International Business Machines Corp. 15,302  1,442 
  * Dell Inc. 20,525  832 
    Hewlett-Packard Co. 26,206  524 
  * EMC Corp. 22,259  299 
  * Apple Computer, Inc. 3,481  233 
  * Sun Microsystems, Inc. 30,619  170 
    Electronic Data Systems Corp. 4,638  104 
  * Network Appliance, Inc. 3,028  91 
  * Unisys Corp. 3,140  36 
  * SanDisk Corp. 1,472  33 
    Seagate Technology 2,094  31 
  * Zebra Technologies Corp. Class A 593  30 
  * Storage Technology Corp. 1,012  29 
  * NVIDIA Corp. 1,459  28 
  * Synopsys, Inc. 1,504  27 
  * Ingram Micro, Inc. Class A 1,110  21 
  * Western Digital Corp. 1,844  18 
  * Gateway, Inc. 1,992  14 
  * RSA Security Inc. 588  12 
  * PalmOne, Inc. 352  12 
  * Perot Systems Corp. 694  11 
  * FileNET Corp. 400  11 
  * Emulex Corp. 738  10 
    Imation Corp. 318  10 
  * UNOVA, Inc. 424 
  * Maxtor Corp. 2,188 
  * Intergraph Corp. 300 
  * Synaptics Inc. 204 
  * Adaptec, Inc. 1,000 
  * Hutchinson Technology, Inc. 231 
  * Lexar Media, Inc. 628 
  * Advanced Digital Information Corp. 520 
  * McDATA Corp. Class A 772 
  * Quantum Corp. 1,472 
  * Silicon Graphics, Inc. 2,086 
  * Komag, Inc. 168 
  * Cray Inc. 684 
  * Dot Hill Systems Corp. 340 
  * InFocus Corp. 328 
  * Safeguard Scientifics, Inc. 992 
  * Iomega Corp. 428 
  * McDATA Corp. 284 
  * FalconStor Software, Inc. 184 
  * Computer Network Technology Corp. 91 
  * Neoware Systems, Inc. 55 
  * Concurrent Computer Corp. 103 

          4,115 

    Consumer Electronics (4.2%)
  * Yahoo! Inc. 11,186  421 
  * Electronic Arts Inc. 2,799  137 
  * VeriSign, Inc. 2,315  76 
  * Google Inc. 385  70 
  * Activision, Inc. 1,248  20 
  * Take-Two Interactive Software, Inc. 445  16 
  * Earthlink, Inc. 1,423  15 
  * InfoSpace, Inc. 224  10 
  * CNET Networks, Inc. 1,064  10 
  * DoubleClick Inc. 1,140 
  * THQ Inc. 340 
  * United Online, Inc. 428 
  * Midway Games Inc. 332 
  * FindWhat.com 138 
  * Atari, Inc. 304 
  * Digital Theater Systems Inc. 18 

         804 

    Diversified Financial Services (0.1%)
  * BISYS Group, Inc. 1,096  18 
  * Euronet Worldwide, Inc. 117 

          21 

    Education--Services
    Renaissance Learning, Inc. 83 

    Electrical & Electronics (0.2%)
  * Benchmark Electronics, Inc. 395  14 
  * Plexus Corp. 379 
  * Power Integrations, Inc. 264 
  * TTM Technologies, Inc. 288 
  * OSI Systems Inc. 120 
  * Universal Display Corp. 184 

         32 

    Electrical Equipment & Components (0.4%)
    Molex, Inc. Class A 761  18 
    Molex, Inc. 532  15 
  * Taser International Inc. 440  12 
  * Littelfuse, Inc. 231 
  * Technitrol, Inc. 332 
  * MKS Instruments, Inc. 307 
    CTS Corp. 288 
    Cohu, Inc. 176 
  * Sonic Solutions, Inc. 54 

          73 

    Electronics (1.3%)
  * Flextronics International Ltd. 5,127  74 
  * Sanmina-SCI Corp. 4,862  43 
  * Amphenol Corp. 789  28 
  * Vishay Intertechnology, Inc. 1,300  19 
  * FLIR Systems, Inc. 326  18 
  * Avid Technology, Inc. 294  17 
  * Semtech Corp. 654  13 
  * Aeroflex, Inc. 748 
    AVX Corp. 541 
    Agilysys, Inc. 268 
    Methode Electronics, Inc. Class A 292 
    BEI Technologies, Inc. 120 
    Park Electrochemical Corp. 164 
  * Daktronics, Inc. 125 
  * Kopin Corp. 576 
  * Lasercard Corp. 21 

          248 

    Electronics--Gauge & Meter (0.3%)
    Tektronix, Inc. 856  27 
  * Mettler-Toledo International Inc. 409  21 
  * Itron, Inc. 172 
    Keithley Instruments Inc. 112 
  * Metrologic Instruments, Inc. 68 

         55 

    Electronics--Other
  * ARGON ST, Inc. 48 

    Electronics--Semiconductors/Components (16.4%  
    Intel Corp. 58,599  1,310 
    Texas Instruments, Inc. 15,922  385 
    Analog Devices, Inc. 3,440  127 
    Maxim Integrated Products, Inc. 2,980  122 
    Linear Technology Corp. 2,834  108 
    Xilinx, Inc. 3,172  99 
  * Altera Corp. 3,420  78 
  * Broadcom Corp. 2,367  77 
  * Advanced Micro Devices, Inc. 3,256  69 
  * Micron Technology, Inc. 4,984  55 
  * Marvell Technology Group Ltd. 1,668  53 
    Microchip Technology, Inc. 1,873  53 
  * National Semiconductor Corp. 3,376  52 
  * Jabil Circuit, Inc. 1,503  38 
  * International Rectifier Corp. 630  27 
  * Arrow Electronics, Inc. 1,036  25 
  * Cree, Inc. 661  24 
    Intersil Corp. 1,343  22 
  * Rambus Inc. 901  21 
  * Avnet, Inc. 1,092  20 
  * Freescale Semiconductor Inc. 1,100  19 
  * LSI Logic Corp. 3,448  18 
  * PMC Sierra Inc. 1,560  17 
  * Integrated Circuit Systems, Inc. 643  15 
  * Fairchild Semiconductor International, Inc. 904  14 
  * Atmel Corp. 3,832  14 
  * Skyworks Solutions, Inc. 1,332  13 
  * RF Micro Devices, Inc. 1,860  13 
  * SigmaTel Inc. 322  12 
  * Agere Systems Inc. Class B 8,144  11 
  * Integrated Device Technology Inc. 964  11 
  * Cypress Semiconductor Corp. 1,084  11 
  * Applied Micro Circuits Corp. 2,732  10 
  * Silicon Image, Inc. 588  10 
  * Agere Systems Inc. Class A 7,143  10 
  * Tessera Technologies, Inc. 249 
  * MEMC Electronic Materials, Inc. 812 
  * Microsemi Corp. 480 
  * OmniVision Technologies, Inc. 448 
  * Silicon Laboratories Inc. 244 
  * Conexant Systems, Inc. 3,647 
  * Micrel, Inc. 616 
  * Vitesse Semiconductor Corp. 1,960 
  * Artisan Components, Inc. 184 
  * DSP Group Inc. 253 
  * Lattice Semiconductor Corp. 1,036 
  * Silicon Storage Technology, Inc. 788 
  * Amkor Technology, Inc. 929 
  * Exar Corp. 362 
  * TriQuint Semiconductor, Inc. 1,116 
  * FormFactor Inc. 196 
  * Cirrus Logic, Inc. 796 
  * ON Semiconductor Corp. 1,264 
  * Genesis Microchip Inc. 264 
  * Pixelworks, Inc. 320 
  * Actel Corp. 208 
  * AMIS Holdings Inc. 199 
  * Transmeta Corp. 1,588 
  * Excel Technology, Inc. 100 
  * Integrated Silicon Solution, Inc. 311 
  * ESS Technology, Inc. 277 
  * Mindspeed Technologies, Inc. 756 
  * Pericom Semiconductor Corp. 212 
  * Siliconix, Inc. 48 
  * IXYS Corp. 172 
  * SiRF Technology Holdings, Inc. 126 
  * Virage Logic Corp. 76 
  * Planar Systems, Inc. 69 
  * White Electronic Designs Corp. 53 

          3,115 

    Electronics--Technology (0.6%)
  * Solectron Corp. 8,696  54 
  * Trimble Navigation Ltd. 442  14 
  * The Titan Corp. 817  13 
  * Coherent, Inc. 266 
  * Checkpoint Systems, Inc. 407 
  * ScanSource, Inc. 109 
  * KEMET Corp. 716 
  * Identix, Inc. 716 

          116 

    Financial Data Processing Services (5.3%)
    First Data Corp. 7,832  322 
    Automatic Data Processing, Inc. 5,431  247 
    Paychex, Inc. 3,136  104 
  * SunGard Data Systems, Inc. 2,675  71 
  * Fiserv, Inc. 1,804  69 
  * DST Systems, Inc. 636  31 
  * CheckFree Corp. 713  26 
    Fair, Isaac, Inc. 646  21 
    Certegy, Inc. 592  20 
    Global Payments Inc. 294  16 
  * Alliance Data Systems Corp. 355  15 
  * Kronos, Inc. 270  14 
    Jack Henry & Associates Inc. 636  12 
  * eFunds Corp. 420  10 
    Total System Services, Inc. 336 
  * Advent Software, Inc. 234 
  * Digital Insight Corp. 272 
  * iPayment Holdings, Inc. 58 
  * CCC Information Services Group 67 
  * Portal Software, Inc. 113 

          999 

    Financial Information Services (0.1%)
    FactSet Research Systems Inc. 180 
  * S1 Corp. 584 
  * HomeStore, Inc. 788 

          16 

    Identification Control & Filter Devices (0.6%  
  * Agilent Technologies, Inc. 3,995  91 
  * Paxar Corp. 324 
  * Veeco Instruments, Inc. 244 
  * Asyst Technologies, Inc. 480 
  * Advanced Energy Industries, Inc. 168 

          107 

    Machinery--Specialty
    Helix Technology Corp. 216 
  * Applied Films Corp. 120 
  * Semitool, Inc. 136 

         

    Medical & Dental Instruments & Supplies
    Landauer, Inc. 72 

    Miscellaneous Materials & Processing
  * Rogers Corp. 136 

    Office Furniture & Business Equipment (1.3%)
  * Xerox Corp. 7,419  114 
  * Lexmark International, Inc. 1,189  101 
    Diebold, Inc. 685  36 
  * Presstek, Inc. 284 

          254 

    Production Technical Equipment (3.0%)
  * Applied Materials, Inc. 15,585  259 
  * KLA-Tencor Corp. 1,819  82 
  * Novellus Systems, Inc. 1,376  37 
  * LAM Research Corp. 1,266  33 
  * Teradyne, Inc. 1,850  32 
  * Varian Semiconductor Equipment Associates, In 366  13 
  * Dionex Corp. 195  11 
  * Cymer, Inc. 315  10 
    Cognex Corp. 360 
  * Axcelis Technologies, Inc. 920 
  * ATMI, Inc. 276 
  * Brooks Automation, Inc. 385 
    MTS Systems Corp. 176 
  * Photronics Inc. 268 
  * Electro Scientific Industries, Inc. 249 
  * Credence Systems Corp. 628 
  * FEI Co. 221 
  * Mykrolis Corp. 332 
  * DuPont Photomasks, Inc. 152 
  * Kulicke & Soffa Industries, Inc. 516 
  * LTX Corp. 512 
  * Entegris Inc. 356 
  * Mattson Technology, Inc. 372 
  * Ultratech, Inc. 188 
  * Photon Dynamics, Inc. 136 
  * Rudolph Technologies, Inc. 110 

          561 

    Retail (0.3%)
    CDW Corp. 617  41 
  * Global Imaging Systems, Inc. 215 

          49 

    Scientific Equipment & Supplies
  * Newport Corp. 348 

    Services--Commercial (1.2%)
  * Accenture Ltd. 3,761  98 
    Sabre Holdings Corp. 1,292  30 
  * Iron Mountain, Inc. 912  27 
  * Convergys Corp. 1,288  19 
  * Hewitt Associates, Inc. 409  12 
  * MPS Group, Inc. 948  11 
  * Gartner, Inc. Class B 702 
  * MAXIMUS, Inc. 172 
    Startek, Inc. 145 
  * Pegasus Solutions Inc. 208 
  * Autobytel Inc. 308 
  * Forrester Research, Inc. 130 
  * NetRatings, Inc. 80 

          222 

    Telecommunications Equipment (0.5%)
  * Polycom, Inc. 920  21 
  * Andrew Corp. 1,405  20 
    Plantronics, Inc. 428  18 
    Belden CDT Inc. 586  14 
  * Interdigital Communications Corp. 490  10 
  * Powerwave Technologies, Inc. 888 
  * Arris Group Inc. 624 
  * Audiovox Corp. 172 
  * Tollgrade Communications, Inc. 87 
  * Terayon Communications Systems, Inc. 106 

          98 

    Utilities--Telecommunications
  * Intrado Inc. 132 

    Wholesalers (0.1%)
  * Tech Data Corp. 555  25 
  * Brightpoint, Inc. 152 

         28 




    TOTAL INVESTMENTS
    (Cost $20,962) 18,946 



    OTHER ASSETS AND LIABILITIES-NET (0.1%) 19 



    NET ASSETS (100%) $18,965 



    *Non-income-producing security

Investment Securities: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4:00 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. Temporary cash investments acquired over 60 days to maturity 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. Other temporary cash investments are valued at amortized cost, which approximates market value.

At November 30, 2004, the cost of investment securities for tax purposes was $20,962,000. Net unrealized depreciation of investment securities for tax purposes was $2,016,000, consisting of unrealized gains of $1,222,000 on securities that had risen in value since their purchase and $3,238,000 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.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

VANGUARD WORLD FUNDS

BY: (signature)
(HEIDI STAM)
JOHN J. BRENNAN*
CHIEF EXECUTIVE OFFICER

Date: January 18, 2005

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 WORLD FUNDS

BY: (signature)
(HEIDI STAM)
JOHN J. BRENNAN*
CHIEF EXECUTIVE OFFICER

Date: January 18, 2005

VANGUARD WORLD FUNDS

BY: (signature)
(HEIDI STAM)
THOMAS J. HIGGINS*
TREASURER

Date: January 18, 2005

*By Power of Attorney. Filed on December 20, 2004, see File Number 002-14336. Incorporated by Reference.