Shares | Market Value ($000) | |||||
Common Stocks (94.0%) | ||||||
Australia (2.8%) | ||||||
BHP Group Ltd. ADR | 409,441 | 19,579 | ||||
BHP Group Ltd. (XASX) | 677,588 | 16,276 | ||||
35,855 | ||||||
Austria (0.8%) | ||||||
*,1 | BAWAG Group AG | 200,181 | 9,664 | |||
Brazil (1.2%) | ||||||
Vale SA Class B ADR | 1,154,895 | 14,944 | ||||
Canada (17.4%) | ||||||
Barrick Gold Corp. | 7,273,085 | 109,315 | ||||
Intact Financial Corp. | 524,593 | 79,712 | ||||
Endeavour Mining plc | 1,015,055 | 18,053 | ||||
Agnico Eagle Mines Ltd. | 286,965 | 12,615 | ||||
219,695 | ||||||
China (3.1%) | ||||||
Ping An Insurance Group Co. of China Ltd. Class H | 3,189,000 | 12,767 | ||||
Contemporary Amperex Technology Co. Ltd. Class A | 189,139 | 9,706 | ||||
* | Baidu Inc. Class A | 918,499 | 8,806 | |||
* | Alibaba Group Holding Ltd. | 696,900 | 5,418 | |||
* | XPeng Inc. Class A ADR | 296,216 | 1,961 | |||
38,658 | ||||||
France (3.2%) | ||||||
STMicroelectronics NV | 711,263 | 22,116 | ||||
Rubis SCA | 830,232 | 18,854 | ||||
40,970 | ||||||
Germany (1.4%) | ||||||
Bayer AG (Registered) | 333,267 | 17,524 | ||||
Greece (0.5%) | ||||||
* | Public Power Corp. SA | 1,080,483 | 6,820 | |||
India (1.1%) | ||||||
Power Grid Corp. of India Ltd. | 4,859,017 | 13,406 | ||||
Italy (2.3%) | ||||||
UniCredit SpA | 2,313,397 | 28,689 | ||||
Japan (1.8%) | ||||||
Mitsubishi UFJ Financial Group Inc. | 2,247,800 | 10,618 | ||||
T&D Holdings Inc. | 711,540 | 7,038 | ||||
Panasonic Holdings Corp. | 793,400 | 5,651 | ||||
23,307 |
Shares | Market Value ($000) | |||||
South Korea (1.6%) | ||||||
* | Coupang Inc. Class A | 1,144,625 | 19,768 | |||
Sweden (1.4%) | ||||||
SKF AB Class B | 1,252,691 | 18,133 | ||||
Switzerland (2.4%) | ||||||
Novartis AG (Registered) | 373,666 | 30,226 | ||||
United Kingdom (21.0%) | ||||||
Glencore plc | 12,529,707 | 71,834 | ||||
Anglo American plc | 1,303,992 | 39,060 | ||||
Unilever plc | 811,595 | 36,890 | ||||
Rio Tinto plc ADR | 567,573 | 30,280 | ||||
Serco Group plc | 10,766,538 | 20,136 | ||||
Standard Chartered plc | 2,917,552 | 17,432 | ||||
Centamin plc | 14,554,379 | 14,796 | ||||
* | Nomad Foods Ltd. | 923,443 | 14,221 | |||
* | Babcock International Group plc | 4,009,566 | 12,665 | |||
* | John Wood Group plc | 3,183,272 | 5,118 | |||
Fresnillo plc | 224,117 | 1,874 | ||||
264,306 | ||||||
United States (32.0%) | ||||||
American Electric Power Co. Inc. | 1,074,552 | 94,474 | ||||
BWX Technologies Inc. | 1,201,722 | 68,474 | ||||
Schlumberger Ltd. | 1,047,066 | 54,479 | ||||
Viper Energy Partners LP | 1,212,762 | 40,446 | ||||
* | Enstar Group Ltd. | 175,285 | 35,148 | |||
Merck & Co. Inc. | 267,474 | 27,068 | ||||
Intel Corp. | 668,161 | 18,996 | ||||
* | Fluor Corp. | 490,341 | 14,838 | |||
* | Livent Corp. | 455,181 | 14,370 | |||
Exelon Corp. | 331,845 | 12,806 | ||||
* | Diamond Offshore Drilling Inc. | 1,165,041 | 11,476 | |||
Mosaic Co. | 205,876 | 11,066 | ||||
* | Metals Acquisition Corp. Warrants Exp. 7/12/26 | 330,300 | 86 | |||
403,727 | ||||||
Total Common Stocks (Cost $1,178,276) | 1,185,692 | |||||
Coupon | ||||||
Temporary Cash Investments (9.0%) | ||||||
Money Market Fund (9.0%) | ||||||
2 | Vanguard Market Liquidity Fund (Cost $113,248) | 3.117% | 1,132,764 | 113,254 | ||
Total Investments (103.0%) (Cost $1,291,524) | 1,298,946 | |||||
Other Assets and Liabilities—Net (-3.0%) | (37,452) | |||||
Net Assets (100%) | 1,261,494 |
Cost is in $000. | |
* | Non-income-producing security. |
1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2022, the aggregate value was $9,664,000, representing 0.8% of net assets. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
ADR—American Depositary Receipt. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks—North and South America | 638,366 | — | — | 638,366 |
Common Stocks—Other | 85,809 | 461,517 | — | 547,326 |
Temporary Cash Investments | 113,254 | — | — | 113,254 |
Total | 837,429 | 461,517 | — | 1,298,946 |