N-Q 1 worldussect5484.htm NQ FORM

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: May 31, 2005

Item 1: Schedule of Investments




Vanguard Consumer Staples Index Fund
Schedule of Investments
May 31, 2005
  Shares Market
Value
($000)

   COMMON STOCKS (100.0%)    

   Agriculture-Fish & Ranch (0.9%)
  Bunge Ltd. 6,055  $376 
  Delta & Pine Land Co. 2,996  81 
* Gold Kist Inc. 2,042  43 
* Alico, Inc. 815  42 

       542 

   
   Beverage-Brewer & Wineries (4.3%)
  Anheuser-Busch Cos., Inc. 40,279  1,887 
* Constellation Brands, Inc. Class A 10,950  305 
  Molson Coors Brewing Co. Class B 3,942  230 
* Boston Beer Co., Inc. Class A 1,994  42 

       2,464 

   
   Beverage-Distillers (0.3%)
  Brown-Forman Corp. Class B 2,482  148 

   
   Beverage-Soft Drinks (15.9%)
  The Coca-Cola Co. 94,558  4,220 
  PepsiCo, Inc. 72,498  4,079 
  Coca-Cola Enterprises, Inc. 14,501  317 
  The Pepsi Bottling Group, Inc. 8,518  242 
  PepsiAmericas, Inc. 4,937  120 
* Peet's Coffee & Tea Inc. 1,718  49 
* Hansen Natural Corp. 641  48 
  Coca-Cola Bottling Co. 865  42 
  Farmer Brothers, Inc. 1,579  38 

       9,155 

   
   Chemicals (0.4%)
* Energizer Holdings, Inc. 3,716  234 

   
   Consumer Products (8.0%)
  Gillette Co. 47,750  2,518 
  Kimberly-Clark Corp. 24,578  1,581 
  Alberto-Culver Co. Class B 4,649  206 
* Spectrum Brands Inc 2,770  102 
* USANA Health Sciences, Inc. 1,333  59 
* Playtex Products, Inc. 4,829  52 
  The Topps Co., Inc. 5,497  51 
  Mannatech, Inc. 2,329  38 

       4,607 

   
   Cosmetics (2.5%)
  Avon Products, Inc. 24,530  975 
  Estee Lauder Cos. Class A 7,172  280 
  Nu Skin Enterprises, Inc. 3,529  80 
* Elizabeth Arden, Inc. 2,832  60 
* Revlon, Inc. Class A 15,557  46 

       1,441 

   
   Drug & Grocery Store Chains (11.1%)
  Walgreen Co. 51,908  2,353 
  CVS Corp. 20,627  1,131 
* The Kroger Co. 36,823  618 
* Safeway, Inc. 23,836  525 
  Whole Foods Market, Inc. 3,523  419 
  Albertson's, Inc. 17,294  363 
  SuperValu Inc. 7,732  253 
* Rite Aid Corp. 34,237  136 
  Longs Drug Stores, Inc. 2,227  91 
* 7-Eleven, Inc. 2,771  83 
  Ruddick Corp. 3,221  77 
  Casey's General Stores, Inc. 4,160  75 
* The Great Atlantic & Pacific Tea Co., Inc. 2,159  54 
  Weis Markets, Inc. 1,439  53 
* Wild Oats Markets Inc. 4,241  48 
  Ingles Markets, Inc. 3,193  40 
  Arden Group Inc. Class A 442  36 

       6,355 

   
   Drugs & Pharmaceuticals (0.1%)
* Chattem, Inc. 1,497  64 

   
   Electronics-Technology (0.1%)
* Ionatron Inc. 5,125  46 

   
   Foods (16.1%)
  Sysco Corp. 32,818  1,220 
  General Mills, Inc. 17,178  850 
  Sara Lee Corp. 41,261  837 
  ConAgra Foods, Inc. 27,056  707 
  H.J. Heinz Co. 18,318  666 
  Kellogg Co. 13,119  597 
  The Hershey Co. 9,291  597 
  Wm. Wrigley Jr. Co. 7,716  527 
  Kraft Foods Inc. 14,334  465 
  Campbell Soup Co. 12,440  386 
* Dean Foods Co. 8,240  321 
  Tyson Foods, Inc. 13,114  242 
  McCormick & Co., Inc. 6,956  235 
  J.M. Smucker Co. 3,433  171 
* Smithfield Foods, Inc. 5,612  167 
  Hormel Foods Corp. 4,858  144 
* Del Monte Foods Co. 13,719  143 
* NBTY, Inc. 4,332  96 
* Performance Food Group Co. 3,543  96 
  Flowers Foods, Inc. 2,905  95 
  Chiquita Brands International, Inc. 3,209  93 
  Ralcorp Holdings, Inc. 2,343  89 
  Pilgrim's Pride Corp. 2,247  79 
  Tootsie Roll Industries, Inc. 2,147  66 
* Herbalife Ltd. 3,275  59 
* Hain Celestial Group, Inc. 3,297  59 
  American Italian Pasta Co. 2,339  54 
  Lance, Inc. 2,963  52 
  Sanderson Farms, Inc. 1,345  51 
  J & J Snack Foods Corp. 1,000  49 
  Seaboard Corp. 34  46 

       9,259 

   
   Metals & Minerals & Commodities (0.1%)
  WD-40 Co. 1,927  56 

   
   Milling-Fruit & Grain Producers (1.3%)
  Archer-Daniels-Midland Co. 31,313  622 
  Corn Products International, Inc. 5,006  111 

       733 

   
   Miscellaneous Health Care (0.1%)
* NeighborCare Inc. 2,794  84 

   
   Multi-Sector Companies (0.2%)
  Lancaster Colony Corp. 2,163  95 

   
   Retail (11.8%)
  Wal-Mart Stores, Inc. 113,424  5,357 
  Costco Wholesale Corp. 24,434  1,110 
* BJ's Wholesale Club, Inc. 4,534  137 
* United Natural Foods, Inc. 2,811  91 
* Central Garden and Pet Co. 1,666  74 

       6,769 

   
   Soap & Household Chemicals (13.8%)
  The Procter & Gamble Co. 108,268  5,971 
  Colgate-Palmolive Co. 26,909  1,345 
  The Clorox Co. 8,236  481 
  Church & Dwight, Inc. 4,131  149 

       7,946 

   
   Tobacco (12.9%)
  Altria Group, Inc. 93,137  6,253 
  Reynolds American Inc. 4,862  403 
  UST, Inc. 9,034  403 
  Carolina Group 4,563  136 
  Universal Corp. (VA) 2,072  92 
  Alliance One International, Inc. 8,997  58 
  Vector Group Ltd. 2,977  51 

       7,396 

   
   Wholesale & International Trade (0.1%)
  Central European Distribution Corp. 1,615  54 


  TOTAL INVESTMENTS
  (Cost $54,987)    57,448  

  OTHER ASSETS AND LIABILITIES-NET (0.0%)    10 

  NET ASSETS (100%)    $57,458 

  *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. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset 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 May 31, 2005, the cost of investment securities for tax purposes was $54,987,000. Net unrealized appreciation of investment securities for tax purposes was $2,461,000, consisting of unrealized gains of $3,314,000 on securities that had risen in value since their purchase and $853,000 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: July 14, 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: July 14, 2005

VANGUARD WORLD FUNDS

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

Date: July 14, 2005

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