N-Q 1 quantitativefundsfinal.htm

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:

811-4526

Name of Registrant:

Vanguard Quantitative Funds

Address of Registrant:

P.O. Box 2600
Valley Forge, PA 19482

Name and address of agent for service:

Heidi Stam, Esquire
P.O. Box 876
Valley Forge, PA 19482

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

Date of fiscal year end:

September 30

Date of reporting period:

December 31, 2008

Item 1:

Schedule of Investments

Vanguard Growth and Income Fund

Schedule of Investments

As of December 31, 2008

			Shares	Market Value ($000)
Common Stocks (98.2%)
Consumer Discretionary (7.3%)
	The Walt Disney Co.	1,451,985			32,946
	Best Buy Co., Inc.	1,164,900			32,745
	Comcast Corp. Class A	1,916,900			32,357
	Omnicom Group Inc.	1,028,500			27,687
	News Corp., Class A	2,269,300			20,628
	H & R Block, Inc.	882,200			20,044
	Time Warner, Inc.	1,816,200			18,271
	Family Dollar Stores, Inc.	614,000			16,007
	Hasbro, Inc.	539,100			15,726
	McDonald's Corp.	252,300			15,690
	NIKE, Inc. Class B	286,700			14,622
^*	Big Lots Inc.	922,100			13,361
	Pulte Homes, Inc.	1,110,300			12,136
	The Gap, Inc.	870,100			11,651
	Tiffany & Co.	374,500			8,849
^*	GameStop Corp. Class A	402,400			8,716
	Carnival Corp.	310,000			7,539
	Jones Apparel Group, Inc.	1,059,600			6,209
				315,184
Consumer Staples (13.9%)
	The Procter & Gamble Co.	2,352,500			145,432
	Wal-Mart Stores, Inc.	1,943,900			108,975
	Philip Morris International Inc.	1,309,200			56,963
	Sysco Corp.	2,187,000			50,170
	Archer-Daniels-Midland Co.	1,509,600			43,522
	Brown-Forman Corp. Class B	752,250			38,733
	The Coca-Cola Co.	840,100			38,031
	The Pepsi Bottling Group, Inc.	1,018,200			22,920
	Walgreen Co.	724,700			17,878
	Coca-Cola Enterprises, Inc.	1,179,400			14,188
	Avon Products, Inc.	503,000			12,087
	McCormick & Co., Inc.	352,100			11,218
	Safeway, Inc.	444,700			10,571
	CVS Caremark Corp.	352,600			10,134
	Reynolds American Inc.	243,000			9,795
	PepsiCo, Inc.	133,700			7,323
				597,940
Energy (13.8%)
	ExxonMobil Corp.	3,154,636			251,835
	ConocoPhillips Co.	1,940,719			100,529
	Chevron Corp.	724,800			53,613
	Apache Corp.	601,300			44,815
	Occidental Petroleum Corp.	540,600			32,431
^*	National Oilwell Varco Inc.	790,500			19,320
^*	Southwestern Energy Co.	582,400			16,872
	BJ Services Co.	1,358,900			15,858

	Anadarko Petroleum Corp.	381,800		14,718
	Devon Energy Corp.	197,600		12,984
	Baker Hughes Inc.	381,100		12,222
	Murphy Oil Corp.	197,700		8,768
	Peabody Energy Corp.	235,200		5,351
	Williams Cos., Inc.	343,900		4,980
			594,296
Financials (12.5%)
	Bank of America Corp.	4,433,799		62,428
	Wells Fargo & Co.	1,818,500		53,609
	Northern Trust Corp.	970,600		50,607
	AFLAC Inc.	825,000		37,818
	State Street Corp.	825,100		32,451
	Hudson City Bancorp, Inc.	2,010,500		32,088
	JPMorgan Chase & Co.	939,000		29,607
	Prudential Financial, Inc.	970,700		29,373
	American Express Co.	1,553,000		28,808
	PNC Financial Services Group	485,300		23,780
	MetLife, Inc.	551,700		19,232
	BB&T Corp.	631,200		17,333
	The Goldman Sachs Group, Inc.	197,600		16,676
	Marsh & McLennan Cos., Inc.	588,200		14,276
	SunTrust Banks, Inc.	408,000		12,052
^*	IntercontinentalExchange Inc.	145,600		12,003
	Public Storage, Inc. REIT	148,200		11,782
	Apartment Investment & Management Co. Class A REIT	857,442		9,903
	Charles Schwab Corp.	589,800		9,537
	Cincinnati Financial Corp.	302,408		8,791
	NYSE Euronext	297,600		8,148
	The Chubb Corp.	138,800		7,079
	The Principal Financial Group, Inc.	254,900		5,753
	CME Group, Inc.	24,800		5,161
			538,295
Health Care (15.7%)
	Johnson & Johnson	2,329,600		139,380
	Bristol-Myers Squibb Co.	2,850,800		66,281
	Pfizer Inc.	3,391,927		60,071
	Aetna Inc.	1,747,200		49,795
	Eli Lilly & Co.	1,235,200		49,742
^*	Express Scripts Inc.	771,000		42,390
	Stryker Corp.	980,300		39,163
^*	Biogen Idec Inc.	820,600		39,085
	Abbott Laboratories	589,800		31,478
^*	Boston Scientific Corp.	2,569,800		19,890
	Merck & Co., Inc.	592,900		18,024
^*	Watson Pharmaceuticals, Inc.	602,500		16,008
^*	St. Jude Medical, Inc.	442,400		14,582
	CIGNA Corp.	847,000		14,272
	AmerisourceBergen Corp.	396,800		14,150
^*	Gilead Sciences, Inc.	247,100		12,637
	Covidien Ltd.	329,700		11,948
^*	Varian Medical Systems, Inc.	332,000		11,633

	Wyeth	297,600		11,163
^*	Amgen Inc.	190,500		11,001
^*	Thermo Fisher Scientific, Inc.	156,400		5,329
			678,022
Industrials (10.5%)
	General Electric Co.	8,104,800		131,298
	Honeywell International Inc.	1,795,700		58,953
	General Dynamics Corp.	784,200		45,162
	Northrop Grumman Corp.	781,000		35,176
	CSX Corp.	911,800		29,606
	Ingersoll-Rand Co.	1,442,800		25,032
	Union Pacific Corp.	386,100		18,456
	Fluor Corp.	403,000		18,083
	Republic Services, Inc. Class A	690,390		17,115
	Caterpillar, Inc.	373,800		16,698
	Norfolk Southern Corp.	245,800		11,565
	L-3 Communications Holdings, Inc.	134,200		9,901
^*	Jacobs Engineering Group Inc.	179,400		8,629
	Burlington Northern Santa Fe Corp.	98,300		7,442
	Expeditors International of Washington, Inc.	219,300		7,296
	Dover Corp.	197,600		6,505
	Southwest Airlines Co.	465,800		4,015
			450,932
Information Technology (15.9%)
	Intel Corp.	6,747,700		98,921
	Hewlett-Packard Co.	2,432,100		88,261
^*	Oracle Corp.	3,914,400		69,402
	International Business Machines Corp.	779,400		65,594
^*	Apple Inc.	679,400		57,987
	Microsoft Corp.	2,948,000		57,309
^*	Computer Sciences Corp.	1,274,300		44,779
^*	Google Inc.	140,740		43,299
^*	Symantec Corp.	2,322,800		31,404
^*	Cisco Systems, Inc.	1,816,900		29,616
^*	Juniper Networks, Inc.	938,900		16,440
	MasterCard, Inc. Class A	103,200		14,750
	Texas Instruments, Inc.	817,500		12,688
^*	Autodesk, Inc.	601,500		11,820
	Xilinx, Inc.	503,800		8,978
^*	Agilent Technologies, Inc.	548,200		8,568
	Automatic Data Processing, Inc.	198,300		7,801
	Corning, Inc.	586,300		5,587
^*	eBay Inc.	398,900		5,569
^*	Broadcom Corp.	294,400		4,996
			683,769
Materials (2.4%)
	Monsanto Co.	776,500		54,627
	Nucor Corp.	633,500		29,268
	Dow Chemical Co.	1,278,000		19,285
			103,180

Telecommunication Services (2.8%)
	AT&T Inc.	3,251,600		92,670

		CenturyTel, Inc.					833,300		22,774
		Verizon Communications Inc.					98,400		3,336
								118,780
Utilities (3.4%)
		Public Service Enterprise Group, Inc.					1,784,100		52,042
		American Electric Power Co., Inc.					1,553,000		51,684
		Dominion Resources, Inc.					623,200		22,335
		CenterPoint Energy Inc.					847,200		10,692
^*		AES Corp.					805,500		6,637
		Duke Energy Corp.					245,700		3,688
								147,078
Total Common Stocks (Cost $5,373,815)								4,227,476
			Coupon				Shares	Market Value ($000)
Temporary Cash Investments (1.4%)
Money Market Fund (1.2%)
¹		Vanguard Market Liquidity Fund		1.378%			52,873,266	52,873
			Coupon		Maturity Date		Face Amount ($000)	Market Value ($000)
U.S. Agency Obligation (0.2%)
²		U.S. Treasury Bill		0.130%		6/18/09	7,450	7,446
Total Temporary Cash Investments (Cost $60,319)								60,319
Total Investments (99.6%) (Cost $5,434,134)								4,287,795
Other Assets and Liabilities-Net (0.4%)								19,010
Net Assets (100%)								4,306,805

*	Non-income-producing security.
1	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
	Vanguard. Rate shown is the 7-day yield.
2	Securities with a value of $7,446,000 have been segregated as initial margin for open futures contracts.
	REIT—Real Estate Investment Trust.

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 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 December 31, 2008, the cost of investment securities for tax purposes was $5,434,134,000. Net unrealized depreciation of investment securities for tax purposes was $1,146,339,000, consisting of unrealized gains of $210,620,000 on securities that had risen in value since their purchase and $1,356,959,000 in unrealized losses on securities that had fallen in value since their purchase.

Futures Contracts: 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 99.7% and -0.1%, respectively, of net assets. Futures contracts are valued at their quoted daily settlement prices.

At December 31, 2008, the aggregate settlement value of open futures contracts expiring in March 2009 and the related unrealized appreciation (depreciation) were:

		($000)
Futures Contracts	Number of Long (Short) Contracts	Aggregate Settlement Value	Unrealized Appreciation (Depreciation)
S&P 500 Index	290	65,257		1,544

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

Growth and Income Fund

In September 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 157 (“FAS 157”), “Fair Value Measurements.” FAS 157 establishes a framework for measuring fair value and expands disclosures about fair value measurements in financial statements.

The various inputs that may be used to determine the value of the fund's investments are summarized in three broad levels. The inputs or methodologies used for valuing 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).

The following table summarizes the fund's investments as of December 31, 2008, based on the inputs used to value them:

Valuation Inputs	Investments in Securities ($000)	Futures Contracts ($000)
Level 1- Quoted prices	4,280,349	1,544
Level 2- Other significant observable inputs	7,446	-
Level 3- Significant unobservable inputs	-	-
Total	4,287,795	1,544

Vanguard Structured Broad Market Fund

Schedule of Investments

As of December 31, 2008

			Shares	Market Value ($000)
Common Stocks (94.8%)
Consumer Discretionary (8.4%)
	McDonald's Corp.	30,431			1,893
	Comcast Corp. Class A	80,865			1,365
	Lowe's Cos., Inc.	43,370			933
	Home Depot, Inc.	36,420			838
^*	DIRECTV Group, Inc.	32,600			747
	Time Warner, Inc.	74,090			745
	News Corp., Class A	70,190			638
^*	AutoZone Inc.	4,200			586
	NIKE, Inc. Class B	11,220			572
	The Gap, Inc.	42,500			569
	Ross Stores, Inc.	18,600			553
	Omnicom Group Inc.	19,960			537
	The Walt Disney Co.	20,490			465
	H & R Block, Inc.	19,900			452
^*	JAKKS Pacific, Inc.	20,500			423
^*	Pre-Paid Legal Services, Inc.	11,300			421
^*	Big Lots Inc.	29,000			420
	Polo Ralph Lauren Corp.	9,200			418
	VF Corp.	6,900			378
	Limited Brands, Inc.	36,000			361
	Autoliv, Inc.	16,200			348
^*	Time Warner Cable, Inc.	13,200			283
^*	Urban Outfitters, Inc.	18,500			277
^*	CEC Entertainment Inc.	10,504			255
^*	Dollar Tree, Inc.	5,900			247
^*	Aeropostale, Inc.	14,350			231
	Tim Hortons, Inc.	7,800			225
	Cablevision Systems NY Group Class A	11,300			190
	Royal Caribbean Cruises, Ltd.	13,600			187
	Target Corp.	5,390			186
^*	Viacom Inc. Class B	9,495			181
	Black & Decker Corp.	4,200			176
	RadioShack Corp.	11,200			134
	Service Corp. International	26,400			131
^*	Ford Motor Co.	49,062			112
	Yum! Brands, Inc.	3,400			107
^*	The Goodyear Tire & Rubber Co.	17,000			101
^*	Liberty Media Corp.	5,500			96
^*	DISH Network Corp.	7,450			83
	Advance Auto Parts, Inc.	1,300			44
^*	Amazon.com, Inc.	753			39
^*	GameStop Corp. Class A	900			20
^*	Quiksilver, Inc.	100			—
				16,967
Consumer Staples (11.1%)
	The Procter & Gamble Co.	65,451			4,046

	Wal-Mart Stores, Inc.	41,465		2,324
	The Coca-Cola Co.	38,690		1,751
	Philip Morris International Inc.	33,250		1,447
	PepsiCo, Inc.	24,830		1,360
	Kraft Foods Inc.	40,856		1,097
	Altria Group, Inc.	66,850		1,007
	General Mills, Inc.	14,200		863
	Archer-Daniels-Midland Co.	29,200		842
	The Kroger Co.	30,500		805
	Kellogg Co.	16,000		702
	Safeway, Inc.	29,000		689
	CVS Caremark Corp.	21,336		613
	Walgreen Co.	20,630		509
	ConAgra Foods, Inc.	29,800		492
	Herbalife Ltd.	20,400		442
	The Pepsi Bottling Group, Inc.	19,600		441
	Bunge Ltd.	8,300		430
^*	Dr. Pepper Snapple Group, Inc.	22,300		362
	The Estee Lauder Cos. Inc. Class A	10,100		313
	Colgate-Palmolive Co.	4,130		283
	Costco Wholesale Corp.	5,270		277
	Alberto-Culver Co.	11,000		270
	Sysco Corp.	10,400		239
	Kimberly-Clark Corp.	4,470		236
	Reynolds American Inc.	3,640		147
	Nash-Finch Co.	1,689		76
^*	Schiff Nutrition International, Inc.	10,300		61
	J.M. Smucker Co.	1,239		54
	Corn Products International, Inc.	1,700		49
	Cal-Maine Foods, Inc.	1,400		40
^*	Darling International, Inc.	5,700		31
	Vector Group Ltd.	2,200		30
^*	Omega Protein Corp.	5,300		21
			22,349
Energy (11.9%)
	ExxonMobil Corp.	104,920		8,376
	Chevron Corp.	37,465		2,771
	Occidental Petroleum Corp.	24,840		1,490
	ConocoPhillips Co.	23,500		1,217
	Devon Energy Corp.	15,713		1,032
	Apache Corp.	12,540		935
	Anadarko Petroleum Corp.	20,740		799
	Hess Corp.	14,600		783
	EOG Resources, Inc.	10,800		719
	Schlumberger Ltd.	14,700		622
	Marathon Oil Corp.	22,340		611
	Noble Energy, Inc.	10,200		502
	Murphy Oil Corp.	10,500		466
	Williams Cos., Inc.	28,500		413
	ENSCO International, Inc.	13,130		373
^*	Alpha Natural Resources, Inc.	22,400		363
	Noble Corp.	15,000		331

^*	Clayton Williams Energy, Inc.	7,100		323
	Chesapeake Energy Corp.	17,700		286
^*	Plains Exploration & Production Co.	10,300		239
^*	Whiting Petroleum Corp.	7,100		238
^*	Mariner Energy Inc.	21,600		220
^*	Transocean Ltd.	4,460		211
	XTO Energy, Inc.	5,600		197
^{^}	Frontline Ltd.	5,000		148
^*	Double Eagle Petroleum Co.	17,200		121
^*	Weatherford International Ltd.	5,900		64
^*	McMoRan Exploration Co.	5,400		53
^*	Swift Energy Co.	2,800		47
	Valero Energy Corp.	1,992		43
^*	Encore Acquisition Co.	1,600		41
			24,034
Financials (13.1%)
	Wells Fargo & Co.	73,110		2,155
	JPMorgan Chase & Co.	68,236		2,151
	U.S. Bancorp	43,450		1,087
	Bank of America Corp.	76,870		1,082
	Bank of New York Mellon Corp.	36,791		1,042
	AFLAC Inc.	19,940		914
	The Chubb Corp.	16,570		845
	The Goldman Sachs Group, Inc.	9,811		828
	State Street Corp.	19,600		771
	Morgan Stanley	46,550		747
	BB&T Corp.	27,180		746
	Aon Corp.	14,500		662
	Hudson City Bancorp, Inc.	40,300		643
	Northern Trust Corp.	12,200		636
	Unum Group	33,200		617
	Progressive Corp. of Ohio	41,300		612
	Loews Corp.	20,610		582
	Ameriprise Financial, Inc.	23,600		551
	Axis Capital Holdings Ltd.	18,400		536
	SunTrust Banks, Inc.	18,000		532
	Charles Schwab Corp.	31,600		511
^*	TD Ameritrade Holding Corp.	34,216		488
	American Financial Group, Inc.	21,300		487
	PNC Financial Services Group	9,840		482
	Discover Financial Services	48,600		463
	Bank of Hawaii Corp.	9,600		434
^*	Knight Capital Group, Inc. Class A	26,300		425
	Citigroup Inc.	58,651		394
^*	Nasdaq Stock Market Inc.	15,756		389
	Capital One Financial Corp.	12,060		385
	Equity Residential REIT	11,400		340
	Vornado Realty Trust REIT	5,600		338
	HCP, Inc. REIT	11,100		308
	Highwood Properties, Inc. REIT	9,829		269
	Associated Estates Realty Corp. REIT	29,300		267
	First BanCorp Puerto Rico	20,800		232

^*	The St. Joe Co.	9,400		229
	FirstMerit Corp.	10,900		224
	Senior Housing Properties Trust REIT	12,500		224
	Sun Communities, Inc. REIT	15,600		218
	Mid-America Apartment Communities, Inc. REIT	5,300		197
	Plum Creek Timber Co. Inc. REIT	5,300		184
	National City Corp.	101,500		184
	PS Business Parks, Inc. REIT	3,600		161
^*	Reinsurance Group of America, Inc.	2,572		110
	Aspen Insurance Holdings Ltd.	4,400		107
	The Travelers Cos., Inc.	1,900		86
	Simon Property Group, Inc. REIT	1,596		85
	American Express Co.	4,120		76
	Prudential Financial, Inc.	2,340		71
	U-Store-It Trust REIT	15,500		69
	Merrill Lynch & Co., Inc.	4,625		54
	Pennsylvania REIT	6,100		45
	Odyssey Re Holdings Corp.	800		41
	Parkway Properties Inc. REIT	2,200		40
	Liberty Property Trust REIT	1,600		37
	Host Hotels & Resorts Inc. REIT	4,700		36
	International Bancshares Corp.	1,200		26
	Cash America International Inc.	900		25
	Suffolk Bancorp	600		22
^*	Arch Capital Group Ltd.	300		21
	BOK Financial Corp.	200		8
			26,531
Health Care (13.8%)
	Johnson & Johnson	50,907		3,046
	Pfizer Inc.	161,835		2,866
	Abbott Laboratories	39,000		2,081
^*	Amgen Inc.	29,815		1,722
	Baxter International, Inc.	19,260		1,032
	Bristol-Myers Squibb Co.	40,530		942
^*	WellPoint Inc.	21,850		921
	Eli Lilly & Co.	22,220		895
	Merck & Co., Inc.	28,710		873
	Covidien Ltd.	22,500		815
	Wyeth	20,340		763
	Medtronic, Inc.	23,730		746
^*	Express Scripts Inc.	11,600		638
^*	St. Jude Medical, Inc.	18,300		603
	McKesson Corp.	15,200		589
^*	Laboratory Corp. of America Holdings	8,900		573
	AmerisourceBergen Corp.	15,900		567
^*	Cephalon, Inc.	6,800		524
^*	DaVita, Inc.	10,300		511
^*	Gilead Sciences, Inc.	9,980		510
^*	Warner Chilcott Ltd.	34,500		500
^*	Watson Pharmaceuticals, Inc.	18,800		500
^*	King Pharmaceuticals, Inc.	46,000		489
^*	Biogen Idec Inc.	9,800		467

^*	Maxygen Inc.	50,700		452
^*	Myriad Genetics, Inc.	6,600		437
^*	Cubist Pharmaceuticals, Inc.	16,400		396
^*	OSI Pharmaceuticals, Inc.	9,900		387
^*	CONMED Corp.	15,500		371
^*	Genentech, Inc.	4,015		333
	Becton, Dickinson & Co.	4,420		302
	CIGNA Corp.	17,000		286
^*	Life Technologies Corp.	9,448		220
	UnitedHealth Group Inc.	8,175		217
^*	Albany Molecular Research, Inc.	20,200		197
^*	Nabi Biopharmaceuticals	53,900		181
^*	Lincare Holdings, Inc.	6,000		162
^*	Medco Health Solutions, Inc.	3,585		150
^*	Acura Pharmaceuticals Inc.	16,400		120
	Schering-Plough Corp.	6,310		107
^*	Celgene Corp.	1,900		105
	Universal Health Services Class B	1,600		60
^*	Questcor Pharmaceuticals, Inc.	4,900		46
^*	Isis Pharmaceuticals, Inc.	2,330		33
^*	Accelrys Inc.	5,900		26
^*	Hospira, Inc.	800		21
^*	Onyx Pharmaceuticals, Inc.	200		7
			27,789
Industrials (10.8%)
	General Electric Co.	189,780		3,074
	Honeywell International Inc.	29,824		979
	Union Pacific Corp.	20,300		970
	General Dynamics Corp.	16,450		947
	Caterpillar, Inc.	21,176		946
	Raytheon Co.	18,000		919
	Lockheed Martin Corp.	10,850		912
	The Boeing Co.	19,660		839
	Waste Management, Inc.	24,800		822
	Norfolk Southern Corp.	17,200		809
	United Technologies Corp.	13,640		731
	Northrop Grumman Corp.	15,830		713
	3M Co.	10,130		583
	Fluor Corp.	12,700		570
	CSX Corp.	16,937		550
	Goodrich Corp.	14,800		548
	Republic Services, Inc. Class A	21,609		536
	L-3 Communications Holdings, Inc.	7,100		524
	Tyco International, Ltd.	24,250		524
	Parker Hannifin Corp.	11,400		485
	Burlington Northern Santa Fe Corp.	6,270		475
	Cooper Industries, Inc. Class A	15,400		450
^*	EMCOR Group, Inc.	19,600		440
	J.B. Hunt Transport Services, Inc.	14,800		389
	GATX Corp.	12,320		381
	Ryder System, Inc.	9,700		376
	United Parcel Service, Inc.	6,380		352

^*	AGCO Corp.	12,700		300
	Bucyrus International, Inc.	16,100		298
	Robbins & Myers, Inc.	13,500		218
	Watson Wyatt & Co. Holdings	4,300		206
	FedEx Corp.	2,944		189
	The Dun & Bradstreet Corp.	2,100		162
	Emerson Electric Co.	4,140		152
^*	GrafTech International Ltd.	17,700		147
	Deere & Co.	3,500		134
	Flowserve Corp.	1,600		82
^*	ICT Group, Inc.	13,500		62
	Trinity Industries, Inc.	3,656		58
^*	Kirby Corp.	300		8
			21,860
Information Technology (14.7%)
	Microsoft Corp.	144,097		2,801
	International Business Machines Corp.	32,142		2,705
	Hewlett-Packard Co.	61,399		2,228
	Intel Corp.	140,590		2,061
^*	Cisco Systems, Inc.	96,350		1,570
^*	Apple Inc.	13,720		1,171
^*	Google Inc.	3,490		1,074
^*	Oracle Corp.	55,248		980
	Automatic Data Processing, Inc.	22,480		884
	Accenture Ltd.	26,100		856
^*	eBay Inc.	54,310		758
	QUALCOMM Inc.	20,320		728
	Visa Inc.	12,500		656
^*	Juniper Networks, Inc.	37,400		655
^*	Symantec Corp.	45,300		612
^*	Computer Sciences Corp.	15,900		559
^*	Affiliated Computer Services, Inc. Class A	12,000		551
	Western Union Co.	36,100		518
^*	QLogic Corp.	38,000		511
	Texas Instruments, Inc.	32,270		501
	Tyco Electronics Ltd.	28,450		461
	Analog Devices, Inc.	23,700		451
^*	Metavante Technologies	26,400		425
^*	EarthLink, Inc.	58,000		392
^*	RadiSys Corp.	69,900		387
^*	Sohu.com Inc.	7,500		355
^*	EMC Corp.	33,730		353
^*	Multi-Fineline Electronix, Inc.	30,200		353
^*	Lexmark International, Inc.	12,800		344
^*	Genpact, Ltd.	39,300		323
^*	Western Digital Corp.	26,600		305
^*	Ceva, Inc.	40,300		282
	Corning, Inc.	28,270		269
^*	Skyworks Solutions, Inc.	47,300		262
^*	MEMC Electronic Materials, Inc.	16,720		239
^*	Hewitt Associates, Inc.	8,400		238
^*	LSI Corp.	68,800		226

^*	PC Mall, Inc.	52,600		211
^*	Sybase, Inc.	8,462		210
^*	Adobe Systems, Inc.	8,100		172
^*	Plexus Corp.	9,900		168
	Black Box Corp.	5,500		144
^*	Marvell Technology Group Ltd.	19,400		129
^*	NVE Corp.	4,900		128
^*	Dell Inc.	7,880		81
	Methode Electronics, Inc. Class A	11,800		80
	CA, Inc.	3,900		72
	Diebold, Inc.	2,300		65
	National Semiconductor Corp.	6,200		62
^*	Dolby Laboratories Inc.	1,900		62
^*	Harmonic, Inc.	8,300		47
	United Online, Inc.	3,900		24
^*	Amkor Technology, Inc.	9,290		20
^*	Yahoo! Inc.	570		7
			29,726
Materials (3.3%)
	Monsanto Co.	16,026		1,127
	Praxair, Inc.	14,700		873
	Dow Chemical Co.	42,520		642
	Nucor Corp.	13,500		624
	The Mosaic Co.	15,300		529
^*	Owens-Illinois, Inc.	16,700		456
	United States Steel Corp.	12,100		450
	Terra Industries, Inc.	20,300		338
	E.I. du Pont de Nemours & Co.	13,280		336
	Reliance Steel & Aluminum Co.	10,300		205
	AK Steel Holding Corp.	20,500		191
	Freeport-McMoRan Copper & Gold, Inc. Class B	7,800		191
	Innophos Holdings Inc.	8,500		168
	Rock-Tenn Co.	4,200		144
	Celanese Corp. Series A	11,500		143
	International Paper Co.	10,000		118
	Eastman Chemical Co.	3,500		111
	Schnitzer Steel Industries, Inc. Class A	1,700		64
			6,710
Telecommunication Services (3.3%)
	AT&T Inc.	107,929		3,076
	Verizon Communications Inc.	67,257		2,280
	Embarq Corp.	12,342		444
^*	Premiere Global Services, Inc.	49,600		427
	Windstream Corp.	21,938		202
	NTELOS Holdings Corp.	8,100		200
^*	Syniverse Holdings Inc.	7,900		94
			6,723
Utilities (4.4%)
	FPL Group, Inc.	17,533		883
	Southern Co.	21,660		801
	Entergy Corp.	9,400		781
	Duke Energy Corp.	51,390		771

American Electric Power Co., Inc.	21,200	706
Sempra Energy	15,000	640
Edison International	18,840	605

		Exelon Corp.					9,640		536
		MDU Resources Group, Inc.					24,700		533
		ONEOK, Inc.					16,800		489
		CenterPoint Energy Inc.					37,400		472
		Progress Energy, Inc.					11,500		458
		IDACORP, Inc.					10,000		295
		Energen Corp.					9,100		267
		Alliant Energy Corp.					8,300		242
^*		AES Corp.					18,500		153
		SCANA Corp.					2,971		106
		Pepco Holdings, Inc.					2,600		46
		Dominion Resources, Inc.					400		14
								8,798
Total Common Stocks (Cost $239,762)								191,487
			Coupon				Shares	Market Value ($000)
Temporary Cash Investments (6.0%)
Money Market Fund (4.9%)
^1,2		Vanguard Market Liquidity Fund		1.378%			9,872,431	9,872
			Coupon		Maturity Date		Face Amount ($000)	Market Value ($000)
U.S. Agency Obligations (1.1%)
^3,4		Federal Home Loan Mortgage Corp.		2.268%		2/18/09	2,000	2,000
^3,4		Federal Home Loan Mortgage Corp.		1.206%		4/30/09	300	300
								2,300
Total Temporary Cash Investments (Cost $12,155)								12,172
Total Investments (100.8%) (Cost $251,917)								203,659
Other Assets and Liabilities-Net (-0.8%)²								(1,560)
Net Assets (100%)								202,099

*	Non-income-producing security.
^	Part of security position is on loan to broker-dealers. The total value of securities on loan is $139,000.
1	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
	Vanguard. Rate shown is the 7-day yield.
2	Includes $141,000 of collateral received for securities on loan.
3	The issuer operates under a congressional charter; its securities are neither issued nor guaranteed by the U.S.
	government.
4	Securities with a value of $2,300,000 have been segregated as initial margin for open futures contracts.
	REIT—Real Estate Investment Trust.

Structured Broad Market Fund

Futures Contracts: 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 99.9% and 0.9%, respectively, of net assets. Futures contracts are valued at their quoted daily settlement prices.

At December 31, 2008, the cost of investment securities for tax purposes was $251,917,000. Net unrealized depreciation of investment securities for tax purposes was $48,258,000, consisting of unrealized gains of $6,031,000 on securities that had risen in value since their purchase and $54,289,000 in unrealized losses on securities that had fallen in value since their purchase.

		($000)
Futures Contracts	Number of Long (Short) Contracts	Aggregate Settlement Value	Unrealized Appreciation (Depreciation)
E-mini Russell 2000 Index	187	9,311	561
E-mini S&P 500 Index	26	1,170	33

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

At December 31, 2008, the aggregate settlement value of open futures contracts expiring in March 2009 and the related unrealized appreciation (depreciation) were:

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).

The following table summarizes the fund's investments as of December 31, 2008, based on the inputs used to value them:

Valuation Inputs	Investments in Securities ($000)	Futures Contracts ($000)
Level 1- Quoted prices	201,360	594
Level 2- Other significant observable inputs	2,299	-
Level 3- Significant unobservable inputs	-	-
Total	203,659	594

Vanguard Structured Large-Cap Equity Fund

Schedule of Investments

As of December 31, 2008

			Shares	Market Value ($000)
Common Stocks (99.5%)
Consumer Discretionary (8.4%)
	McDonald's Corp.	74,897			4,658
	Comcast Corp. Class A	204,885			3,458
	Home Depot, Inc.	112,300			2,585
	Time Warner, Inc.	252,682			2,542
	The Walt Disney Co.	89,929			2,040
^*	Apollo Group, Inc. Class A	25,854			1,981
^*	AutoZone Inc.	14,104			1,967
^*	Coach, Inc.	93,381			1,940
	The Gap, Inc.	142,122			1,903
	Omnicom Group Inc.	68,113			1,834
	Polo Ralph Lauren Corp.	33,564			1,524
	Lowe's Cos., Inc.	64,373			1,385
	Limited Brands, Inc.	126,993			1,275
^*	DIRECTV Group, Inc.	54,531			1,249
	Harley-Davidson, Inc.	68,506			1,163
^*	Amazon.com, Inc.	22,377			1,148
	Target Corp.	30,930			1,068
	NIKE, Inc. Class B	16,963			865
	News Corp., Class A	80,640			733
	H & R Block, Inc.	29,830			678
	TJX Cos., Inc.	30,916			636
	Macy's Inc.	57,800			598
	Yum! Brands, Inc.	17,875			563
^*	Interpublic Group of Cos., Inc.	67,783			268
^*	GameStop Corp. Class A	11,785			255
	Family Dollar Stores, Inc.	8,390			219
	Whirlpool Corp.	4,458			184
	Wyndham Worldwide Corp.	27,040			177
^{*,^}	Ford Motor Co.	66,706			153
	Snap-On Inc.	3,377			133
	RadioShack Corp.	7,859			94
	Carnival Corp.	3,549			86
	Lennar Corp. Class A	6,667			58
				39,420
Consumer Staples (12.8%)
	The Procter & Gamble Co.	185,794			11,486
	Wal-Mart Stores, Inc.	142,596			7,994
	The Coca-Cola Co.	108,640			4,918
	Philip Morris International Inc.	109,936			4,783
	PepsiCo, Inc.	84,892			4,650
	Kraft Foods Inc.	106,968			2,872
	General Mills, Inc.	39,083			2,374
	CVS Caremark Corp.	72,433			2,082
	ConAgra Foods, Inc.	107,038			1,766
	Kimberly-Clark Corp.	32,844			1,732
	Walgreen Co.	66,869			1,650

	Archer-Daniels-Midland Co.	56,240		1,621
	Colgate-Palmolive Co.	22,719		1,557
	Campbell Soup Co.	48,458		1,454
	Sysco Corp.	62,589		1,436
	Kellogg Co.	32,700		1,434
	Altria Group, Inc.	92,161		1,388
	The Kroger Co.	48,682		1,286
^*	Dr. Pepper Snapple Group, Inc.	69,094		1,123
	The Estee Lauder Cos. Inc. Class A	28,647		887
	Costco Wholesale Corp.	16,419		862
	Molson Coors Brewing Co. Class B	9,070		444
	The Hershey Co.	11,341		394
	Safeway, Inc.	8,000		190
	J.M. Smucker Co.	1,226		53
			60,436
Energy (13.3%)
	ExxonMobil Corp.	307,339		24,535
	Chevron Corp.	128,656		9,517
	ConocoPhillips Co.	99,459		5,152
	Schlumberger Ltd.	59,855		2,534
	Occidental Petroleum Corp.	39,951		2,397
	Devon Energy Corp.	32,039		2,105
	Apache Corp.	26,446		1,971
	Murphy Oil Corp.	41,385		1,835
	El Paso Corp.	231,850		1,815
	Peabody Energy Corp.	74,702		1,699
	Anadarko Petroleum Corp.	40,192		1,549
	Hess Corp.	26,823		1,439
	EOG Resources, Inc.	20,486		1,364
	ENSCO International, Inc.	40,309		1,144
^*	Southwestern Energy Co.	24,343		705
	XTO Energy, Inc.	19,352		683
	Marathon Oil Corp.	24,700		676
	Halliburton Co.	25,891		471
^*	Transocean Ltd.	8,906		421
	Massey Energy Co.	22,825		315
	Valero Energy Corp.	8,330		180
	Chesapeake Energy Corp.	8,236		133
^*	National Oilwell Varco Inc.	5,054		123
	Baker Hughes Inc.	3,330		107
			62,870
Financials (13.2%)
	JPMorgan Chase & Co.	207,479		6,542
	Wells Fargo & Co.	151,595		4,469
	Bank of America Corp.	277,012		3,900
	The Chubb Corp.	52,343		2,669
	Wachovia Corp.	476,749		2,641
	U.S. Bancorp	104,624		2,617
	Bank of New York Mellon Corp.	87,075		2,467
	Aon Corp.	49,137		2,245
	Northern Trust Corp.	40,517		2,113
	The Goldman Sachs Group, Inc.	24,698		2,084

	Unum Group	108,013		2,009
	Hudson City Bancorp, Inc.	121,601		1,941
	Citigroup Inc.	276,531		1,855
	AFLAC Inc.	39,594		1,815
	Discover Financial Services	184,334		1,757
	American Express Co.	92,285		1,712
	Capital One Financial Corp.	50,543		1,612
	Morgan Stanley	98,963		1,587
	State Street Corp.	38,634		1,519
	The Travelers Cos., Inc.	32,668		1,477
	BB&T Corp.	50,637		1,390
	Charles Schwab Corp.	73,196		1,184
	MetLife, Inc.	33,304		1,161
	Simon Property Group, Inc. REIT	21,188		1,126
	SunTrust Banks, Inc.	33,982		1,004
	HCP, Inc. REIT	34,763		965
	Equity Residential REIT	30,236		902
	Vornado Realty Trust REIT	12,472		753
	PNC Financial Services Group	15,301		750
	Merrill Lynch & Co., Inc.	54,864		639
	National City Corp.	333,828		604
	The Allstate Corp.	15,290		501
	Public Storage, Inc. REIT	4,629		368
	CME Group, Inc.	1,663		346
	Host Hotels & Resorts Inc. REIT	45,429		344
	Lincoln National Corp.	15,419		290
	Marshall & Ilsley Corp.	15,568		212
	Prudential Financial, Inc.	6,646		201
	Torchmark Corp.	2,495		111
	Federated Investors, Inc.	5,290		90
	Ameriprise Financial, Inc.	3,800		89
	Plum Creek Timber Co. Inc. REIT	2,100		73
	M & T Bank Corp.	900		52
	Franklin Resources Corp.	526		34
	Apartment Investment & Management Co. Class A REIT	2,263		26
	Avalonbay Communities, Inc. REIT	400		24
	Boston Properties, Inc. REIT	100		5
			62,275
Health Care (14.7%)
	Johnson & Johnson	174,146		10,419
	Pfizer Inc.	432,445		7,659
	Abbott Laboratories	83,968		4,481
^*	Amgen Inc.	71,813		4,147
	Wyeth	92,403		3,466
	Merck & Co., Inc.	110,367		3,355
^*	Gilead Sciences, Inc.	65,046		3,326
	Bristol-Myers Squibb Co.	126,831		2,949
^*	Biogen Idec Inc.	50,385		2,400
	Baxter International, Inc.	43,818		2,348
^*	Express Scripts Inc.	40,750		2,240
^*	Boston Scientific Corp.	277,505		2,148
	Quest Diagnostics, Inc.	40,298		2,092

	Eli Lilly & Co.	47,687		1,920
	AmerisourceBergen Corp.	53,749		1,917
^*	St. Jude Medical, Inc.	52,749		1,739
	Medtronic, Inc.	54,807		1,722
	Covidien Ltd.	43,255		1,568
	UnitedHealth Group Inc.	52,374		1,393
^*	Cephalon, Inc.	17,605		1,356
^*	WellPoint Inc.	29,384		1,238
	Schering-Plough Corp.	67,629		1,152
^*	Medco Health Solutions, Inc.	24,566		1,030
^*	Celgene Corp.	18,520		1,024
^*	Watson Pharmaceuticals, Inc.	33,641		894
^*	Varian Medical Systems, Inc.	16,633		583
^*	Thermo Fisher Scientific, Inc.	11,134		379
^*	King Pharmaceuticals, Inc.	14,816		157
	Stryker Corp.	3,375		135
^*	Life Technologies Corp.	4,516		105
			69,342
Industrials (11.0%)
	General Electric Co.	604,522		9,793
	United Parcel Service, Inc.	50,821		2,803
	United Technologies Corp.	51,136		2,741
	Waste Management, Inc.	73,030		2,420
	Lockheed Martin Corp.	26,038		2,189
	Union Pacific Corp.	41,304		1,974
	Honeywell International Inc.	59,583		1,956
	3M Co.	33,513		1,928
	Dover Corp.	58,358		1,921
	Fluor Corp.	42,160		1,892
	General Dynamics Corp.	32,637		1,880
	Goodrich Corp.	50,745		1,879
	Raytheon Co.	34,627		1,767
	Ryder System, Inc.	41,654		1,615
	Norfolk Southern Corp.	33,107		1,558
	Northrop Grumman Corp.	31,516		1,420
	Cummins Inc.	52,714		1,409
	Flowserve Corp.	27,074		1,394
	The Boeing Co.	32,647		1,393
	L-3 Communications Holdings, Inc.	17,387		1,283
	Emerson Electric Co.	32,172		1,178
	Caterpillar, Inc.	24,068		1,075
	CSX Corp.	30,618		994
	Republic Services, Inc. Class A	35,755		887
	Burlington Northern Santa Fe Corp.	10,577		801
	FedEx Corp.	11,194		718
	Deere & Co.	12,018		461
	Danaher Corp.	5,745		325
	Illinois Tool Works, Inc.	8,925		313
	Southwest Airlines Co.	6,700		58
	Expeditors International of Washington, Inc.	909		30
			52,055

Information Technology (15.2%)
	Microsoft Corp.	483,341		9,396
	International Business Machines Corp.	86,440		7,275
^*	Cisco Systems, Inc.	380,915		6,209
	Hewlett-Packard Co.	160,800		5,835
	Intel Corp.	365,553		5,359
^*	Apple Inc.	58,242		4,971
^*	Oracle Corp.	262,488		4,654
^*	Google Inc.	12,855		3,955
	QUALCOMM Inc.	84,857		3,040
^*	Symantec Corp.	172,207		2,328
^*	Computer Sciences Corp.	55,098		1,936
	Xilinx, Inc.	96,353		1,717
	Western Union Co.	116,922		1,677
^*	Lexmark International, Inc.	55,109		1,482
^*	Affiliated Computer Services, Inc. Class A	30,926		1,421
^*	eBay Inc.	100,791		1,407
^*	Juniper Networks, Inc.	76,506		1,340
	Analog Devices, Inc.	64,999		1,236
	Corning, Inc.	95,485		910
^*	EMC Corp.	77,907		816
	Texas Instruments, Inc.	46,568		723
	Automatic Data Processing, Inc.	17,388		684
^*	LSI Corp.	205,451		676
^*	Dell Inc.	61,362		628
^*	Yahoo! Inc.	43,103		526
	CA, Inc.	23,663		439
	Applied Materials, Inc.	35,478		359
	Harris Corp.	6,800		259
	Jabil Circuit, Inc.	31,145		210
^*	Teradata Corp.	10,739		159
^*	QLogic Corp.	7,864		106
^*	Compuware Corp.	15,277		103
	National Semiconductor Corp.	4,916		50
			71,886
Materials (2.9%)
	Monsanto Co.	39,361		2,769
	Nucor Corp.	40,101		1,853
	United States Steel Corp.	42,762		1,591
	Praxair, Inc.	23,087		1,371
	E.I. du Pont de Nemours & Co.	53,953		1,365
	CF Industries Holdings, Inc.	27,013		1,328
	Dow Chemical Co.	79,399		1,198
	AK Steel Holding Corp.	114,378		1,066
	Freeport-McMoRan Copper & Gold, Inc. Class B	29,754		727
	Eastman Chemical Co.	13,183		418
	Ball Corp.	1,400		58
	Alcoa Inc.	2,426		27
	International Paper Co.	600		7
			13,778
Telecommunication Services (3.8%)
	AT&T Inc.	338,835		9,657
	Verizon Communications Inc.	184,996		6,272
^*	American Tower Corp. Class A	40,222		1,179

		Windstream Corp.					65,006		598
		Embarq Corp.					8,491		305
								18,011
Utilities (4.2%)
		Exelon Corp.					48,286		2,685
		American Electric Power Co., Inc.					72,324		2,407
		Entergy Corp.					28,726		2,388
		Southern Co.					58,896		2,179
		Sempra Energy					49,213		2,098
		Questar Corp.					59,947		1,960
		CenterPoint Energy Inc.					142,039		1,793
		Duke Energy Corp.					106,790		1,603
		FPL Group, Inc.					27,808		1,400
		Dominion Resources, Inc.					20,987		752
		DTE Energy Co.					5,200		185
		Pinnacle West Capital Corp.					3,191		103
		CMS Energy Corp.					7,638		77
		NiSource, Inc.					6,300		69
^*		AES Corp.					5,741		47
								19,746
Total Common Stocks (Cost $607,755)								469,819
			Coupon				Shares	Market Value ($000)
Temporary Cash Investments (0.7%)
Money Market Fund (0.4%)
^1,2		Vanguard Market Liquidity Fund		1.378%			2,001,795	2,002
			Coupon		Maturity Date		Face Amount ($000)	Market Value ($000)
U.S. Agency Obligations (0.3%)
^3,4		Federal Home Loan Bank		3.257%		2/2/09	500	500
^3,4		Federal Home Loan Mortgage Corp.		1.204%		2/23/09	200	200
^3,4		Federal Home Loan Mortgage Corp.		1.206%		4/30/09	600	599
								1,299
Total Temporary Cash Investments (Cost $3,297)								3,301
Total Investments (100.2%) (Cost $611,052)								473,120
Other Assets and Liabilities-Net (-0.2%)²								(933)
Net Assets (100%)								472,187

*	Non-income-producing security.
^	Part of security position is on loan to broker-dealers. The total value of securities on loan is $136,000.
1	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
	Vanguard. Rate shown is the 7-day yield.
2	Includes $179,000 of collateral received for securities on loan.
3	The issuer operates under a congressional charter; its securities are neither issued nor guaranteed by the U.S.
	government.
4	Securities with a value of $1,299,000 have been segregated as initial margin for open futures contracts.

REIT—Real Estate Investment Trust.

At December 31, 2008, the cost of investment securities for tax purposes was $611,052,000. Net unrealized depreciation of investment securities for tax purposes was $137,932,000, consisting of unrealized gains of $11,252,000 on securities that had risen in value since their purchase and $149,184,000 in unrealized losses on securities that had fallen in value since their purchase.

Futures Contracts: 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. Futures contracts are valued at their quoted daily settlement prices.

At December 31, 2008, the aggregate settlement value of open futures contracts expiring in March 2009 and the related unrealized appreciation (depreciation) were:

		($000)
Futures Contracts	Number of Long (Short) Contracts	Aggregate Settlement Value	Unrealized Appreciation (Depreciation)
E-mini S&P 500 Index	50	2,250		56

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

Structured Large-Cap Equity Fund

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).

The following table summarizes the fund's investments as of December 31, 2008, based on the inputs used to value them:

Valuation Inputs	Investments in Securities ($000)	Futures Contracts ($000)
Level 1- Quoted prices	471,821	56
Level 2- Other significant observable inputs	1,299	-
Level 3- Significant unobservable inputs	-	-
Total	473,120	56

Vanguard Structured Large-Cap Growth Fund

Schedule of Investments

As of December 31, 2008

			Shares	Market Value ($000)
Common Stocks (99.3%)
Consumer Discretionary (9.2%)
	McDonald's Corp.	10,564			657
	H & R Block, Inc.	9,600			218
^*	Apollo Group, Inc. Class A	2,800			215
	Omnicom Group Inc.	7,402			199
	Tim Hortons, Inc.	6,900			199
^*	AutoZone Inc.	1,420			198
	Target Corp.	5,720			198
	NIKE, Inc. Class B	3,728			190
	Comcast Corp. Class A	10,629			179
	Ross Stores, Inc.	6,000			178
	The Gap, Inc.	11,700			157
^*	ITT Educational Services, Inc.	1,600			152
^*	Amazon.com, Inc.	2,200			113
^*	Liberty Media Corp.	6,100			107
^*	Urban Outfitters, Inc.	7,100			106
^*	DIRECTV Group, Inc.	4,160			95
	Polo Ralph Lauren Corp.	2,081			95
	TJX Cos., Inc.	4,300			88
^*	Big Lots Inc.	6,000			87
	WABCO Holdings Inc.	4,200			66
	Lowe's Cos., Inc.	2,823			61
^*	Coach, Inc.	2,800			58
^*	Time Warner Cable, Inc.	2,700			58
^*	Viacom Inc. Class B	2,659			51
^*	GameStop Corp. Class A	1,900			41
	Advance Auto Parts, Inc.	1,200			40
	Darden Restaurants Inc.	1,400			39
	Time Warner, Inc.	3,849			39
	News Corp., Class A	3,834			35
	The McGraw-Hill Cos., Inc.	1,200			28
^*	DISH Network Corp.	1,386			15
	The Walt Disney Co.	242			6
				3,968
Consumer Staples (14.2%)
	Wal-Mart Stores, Inc.	17,957			1,007
	Philip Morris International Inc.	20,969			912
	PepsiCo, Inc.	13,611			746
	The Procter & Gamble Co.	11,403			705
	The Coca-Cola Co.	14,748			668
	Colgate-Palmolive Co.	4,205			288
	Altria Group, Inc.	17,469			263
	CVS Caremark Corp.	8,984			258
	Walgreen Co.	7,510			185
	H.J. Heinz Co.	4,900			184
	Costco Wholesale Corp.	3,375			177
	The Kroger Co.	6,400			169

	Herbalife Ltd.	7,700		167
	The Estee Lauder Cos. Inc. Class A	3,200		99
	Lorillard, Inc.	1,200		68
	Sysco Corp.	2,794		64
	Campbell Soup Co.	2,100		63
	General Mills, Inc.	800		49
	Kimberly-Clark Corp.	879		46
			6,118
Energy (8.4%)
	ExxonMobil Corp.	9,873		788
	Occidental Petroleum Corp.	8,600		516
	Schlumberger Ltd.	10,600		449
^*	Southwestern Energy Co.	7,200		209
	Murphy Oil Corp.	4,700		208
	Peabody Energy Corp.	8,200		187
	Hess Corp.	3,300		177
	EOG Resources, Inc.	2,350		156
	Noble Corp.	5,652		125
^*	Alpha Natural Resources, Inc.	7,300		118
	Halliburton Co.	5,890		107
	ENSCO International, Inc.	3,697		105
^*	Plains Exploration & Production Co.	4,400		102
^*	Whiting Petroleum Corp.	2,100		70
	Massey Energy Co.	4,800		66
^*	National Oilwell Varco Inc.	2,148		53
	Baker Hughes Inc.	1,539		49
^*	Unit Corp.	1,800		48
^*	Transocean Ltd.	857		41
	Chesapeake Energy Corp.	1,700		27
^*	Weatherford International Ltd.	2,500		27
			3,628
Financials (3.8%)
	AFLAC Inc.	5,469		251
	Northern Trust Corp.	4,330		226
	Charles Schwab Corp.	11,315		183
^*	TD Ameritrade Holding Corp.	11,100		158
	American Express Co.	6,427		119
^*	Nasdaq Stock Market Inc.	4,800		119
	Simon Property Group, Inc. REIT	1,791		95
	Hudson City Bancorp, Inc.	4,900		78
	State Street Corp.	1,966		77
	The Goldman Sachs Group, Inc.	816		69
^*	The St. Joe Co.	2,300		56
	Morgan Stanley	3,400		55
	CME Group, Inc.	242		50
	Taubman Co. REIT	1,700		43
	Discover Financial Services	4,100		39
	Ventas, Inc. REIT	300		10
	Franklin Resources Corp.	86		6
			1,634
Health Care (15.6%)
	Abbott Laboratories	15,469		826

^*	Gilead Sciences, Inc.	9,770		500
	Johnson & Johnson	7,812		467
	Bristol-Myers Squibb Co.	19,318		449
	Baxter International, Inc.	6,442		345
^*	Genentech, Inc.	3,955		328
	Medtronic, Inc.	9,440		297
^*	Biogen Idec Inc.	5,731		273
^*	Medco Health Solutions, Inc.	5,990		251
^*	Express Scripts Inc.	4,378		241
^*	St. Jude Medical, Inc.	7,200		237
	Schering-Plough Corp.	12,932		220
	Quest Diagnostics, Inc.	4,100		213
^*	Celgene Corp.	3,600		199
^*	Cephalon, Inc.	2,338		180
^*	DaVita, Inc.	3,500		173
^*	Watson Pharmaceuticals, Inc.	6,200		165
	McKesson Corp.	4,240		164
	AmerisourceBergen Corp.	4,330		154
^*	Warner Chilcott Ltd.	10,600		154
	Omnicare, Inc.	5,300		147
	Merck & Co., Inc.	4,403		134
	Becton, Dickinson & Co.	1,941		133
^*	Boston Scientific Corp.	14,200		110
	Eli Lilly & Co.	2,100		85
	Stryker Corp.	1,927		77
	UnitedHealth Group Inc.	2,649		70
^*	Genzyme Corp.	700		46
^*	Forest Laboratories, Inc.	1,800		46
^*	Thermo Fisher Scientific, Inc.	200		7
			6,691
Industrials (13.4%)
	3M Co.	6,026		347
	United Parcel Service, Inc.	5,847		323
	Caterpillar, Inc.	6,825		305
	Lockheed Martin Corp.	3,604		303
	Honeywell International Inc.	8,680		285
	Union Pacific Corp.	5,866		280
	The Boeing Co.	6,204		265
	United Technologies Corp.	4,482		240
	Emerson Electric Co.	6,146		225
	L-3 Communications Holdings, Inc.	2,700		199
	Fluor Corp.	4,400		197
	Burlington Northern Santa Fe Corp.	2,600		197
	Goodrich Corp.	5,200		193
	Waste Management, Inc.	5,458		181
	CSX Corp.	4,935		160
^*	AGCO Corp.	6,600		156
	Flowserve Corp.	3,000		155
	The Dun & Bradstreet Corp.	2,000		154
	The Timken Co.	7,600		149
	Dover Corp.	4,200		138
	Bucyrus International, Inc.	7,200		133

	Tyco International, Ltd.	5,300		114
	Raytheon Co.	2,204		113
	Deere & Co.	2,900		111
	Ryder System, Inc.	2,700		105
	GATX Corp.	3,216		100
	Norfolk Southern Corp.	1,900		89
^*	First Solar, Inc.	600		83
	Northrop Grumman Corp.	1,800		81
	J.B. Hunt Transport Services, Inc.	3,000		79
	Precision Castparts Corp.	1,277		76
	Republic Services, Inc. Class A	2,400		60
	Danaher Corp.	900		51
^*	Stericycle, Inc.	800		42
^*	Kirby Corp.	1,400		38
	Parker Hannifin Corp.	900		38
	Cooper Industries, Inc. Class A	700		20
			5,785
Information Technology (28.1%)
	Microsoft Corp.	78,585		1,528
	International Business Machines Corp.	13,707		1,154
^*	Cisco Systems, Inc.	59,350		967
	Hewlett-Packard Co.	24,877		903
^*	Apple Inc.	8,712		744
	Intel Corp.	50,620		742
^*	Oracle Corp.	39,796		706
^*	Google Inc.	2,175		669
	QUALCOMM Inc.	14,403		516
	Visa Inc.	5,100		267
	Automatic Data Processing, Inc.	6,000		236
	Accenture Ltd.	6,935		227
^*	Juniper Networks, Inc.	12,400		217
	Texas Instruments, Inc.	13,761		214
	Xilinx, Inc.	10,000		178
	Analog Devices, Inc.	9,300		177
	CA, Inc.	9,300		172
^*	Alliance Data Systems Corp.	3,600		167
^*	BMC Software, Inc.	5,310		143
^*	Dell Inc.	13,881		142
^*	Sohu.com Inc.	3,000		142
	Diebold, Inc.	5,000		140
^*	Metavante Technologies	8,500		137
^*	Western Digital Corp.	11,800		135
^*	Affiliated Computer Services, Inc. Class A	2,800		129
^*	Symantec Corp.	9,000		122
^*	Yahoo! Inc.	9,857		120
^*	Marvell Technology Group Ltd.	16,700		111
^*	EMC Corp.	10,594		111
^*	eBay Inc.	7,656		107
^*	Adobe Systems, Inc.	4,783		102
	Corning, Inc.	10,507		100
	Applied Materials, Inc.	8,999		91
	National Semiconductor Corp.	9,002		91

^*	Activision Blizzard, Inc.			9,000		78
^*	NCR Corp.			5,000		71
^*	Lexmark International, Inc.			2,400		65
^*	Hewitt Associates, Inc.			1,600		45
^*	LSI Corp.			9,900		33
^*	Integrated Device Technology Inc.			5,800		32
^*	Genpact, Ltd.			3,900		32
^*	WebMD Health Corp. Class A			800		19
					12,082
Materials (3.6%)
	Monsanto Co.			5,727		403
	Airgas, Inc.			4,500		175
	United States Steel Corp.			4,600		171
	FMC Corp.			3,400		152
	Praxair, Inc.			2,270		135
	Greif Inc. Class A			3,300		110
	The Mosaic Co.			2,800		97
	AK Steel Holding Corp.			9,500		89
	Celanese Corp. Series A			6,070		75
	Terra Industries, Inc.			3,300		55
	Newmont Mining Corp. (Holding Co.)			800		33
	Nucor Corp.			700		32
	Alcoa Inc.			1,700		19
	Southern Copper Corp. (U.S. Shares)			408		7
					1,553
Telecommunication Services (0.8%)
^*	American Tower Corp. Class A			7,600		223
	Embarq Corp.			2,114		76
	Windstream Corp.			4,770		44
^*	NII Holdings Inc.			800		14
					357
Utilities (2.2%)
	Entergy Corp.			2,700		224
	Questar Corp.			5,100		167
^*	AES Corp.			20,100		166
	CenterPoint Energy Inc.			12,900		163
	Exelon Corp.			2,372		132
	Energen Corp.			2,300		67
	Public Service Enterprise Group, Inc.			449		13
					932
Total Common Stocks (Cost $53,455)					42,748
		Coupon		Shares	Market Value ($000)
Temporary Cash Investments (0.6%)
Money Market Fund (0.3%)
¹	Vanguard Market Liquidity Fund		1.378%	137,000	137

			Coupon		Maturity Date		Face Amount ($000)	Market Value ($000)
U.S. Agency Obligation (0.3%)
^2,3		Federal Home Loan Mortgage Corp.		2.268%		2/18/09	100	100
Total Temporary Cash Investments (Cost $236)								237
Total Investments (99.9%) (Cost $53,691)								42,985
Other Assets and Liabilities-Net (0.1%)								45
Net Assets (100%)								43,030

*	Non-income-producing security.
1	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
	Vanguard. Rate shown is the 7-day yield.
2	The issuer operates under a congressional charter; its securities are neither issued nor guaranteed by the U.S.
	government.
3	Securities with a value of $100,000 have been segregated as initial margin for open futures contracts.
	REIT—Real Estate Investment Trust.

Futures Contracts: 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. Futures contracts are valued at their quoted daily settlement prices.

At December 31, 2008, the cost of investment securities for tax purposes was $53,691,000. Net unrealized depreciation of investment securities for tax purposes was $10,706,000, consisting of unrealized gains of $1,373,000 on securities that had risen in value since their purchase and $12,079,000 in unrealized losses on securities that had fallen in value since their purchase.

		($000)
Futures Contracts	Number of Long (Short) Contracts	Aggregate Settlement Value	Unrealized Appreciation (Depreciation)
S&P 500 Index	1	225	7
E-mini S&P 500 Index	1	45	-

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

At December 31, 2008, the aggregate settlement value of open futures contracts expiring in March 2009 and the related unrealized appreciation (depreciation) were:

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).

The following table summarizes the fund's investments as of December 31, 2008, based on the inputs used to value them:

Valuation Inputs	Investments in Securities ($000)	Futures Contracts ($000)
Level 1- Quoted prices	42,885	7
Level 2- Other significant observable inputs	100	-
Level 3- Significant unobservable inputs	-	-
Total	42,985	7

Vanguard Structured Large-Cap Value Fund

Schedule of Investments

As of December 31, 2008

			Shares	Market Value ($000)
Common Stocks (99.3%)
Consumer Discretionary (8.3%)
	Comcast Corp. Class A	22,875			386
	Home Depot, Inc.	16,300			375
	Time Warner, Inc.	36,520			367
	The Walt Disney Co.	14,790			336
	Lowe's Cos., Inc.	11,800			254
	Cablevision Systems NY Group Class A	11,600			195
	The Gap, Inc.	13,400			179
	The Stanley Works	5,000			170
	Hasbro, Inc.	5,800			169
	Autoliv, Inc.	7,200			155
	RadioShack Corp.	11,300			135
	Lennar Corp. Class A	14,300			124
	McDonald's Corp.	1,804			112
	Omnicom Group Inc.	4,000			108
	Limited Brands, Inc.	10,300			103
	Foot Locker, Inc.	12,100			89
	News Corp., Class A	8,410			76
	VF Corp.	1,100			60
	Pulte Homes, Inc.	5,100			56
	Carnival Corp.	2,000			49
	Warner Music Group Corp.	13,900			42
^*	TRW Automotive Holdings Corp.	11,000			40
	Royal Caribbean Cruises, Ltd.	2,800			38
^*	NVR, Inc.	80			37
	Wyndham Worldwide Corp.	5,500			36
	International Speedway Corp.	900			26
^*	Liberty Global, Inc. Class A	1,100			18
^*	The Goodyear Tire & Rubber Co.	1,000			6
				3,741
Consumer Staples (9.4%)
	The Procter & Gamble Co.	19,715			1,219
	Kraft Foods Inc.	14,476			389
	Wal-Mart Stores, Inc.	5,200			291
	The Coca-Cola Co.	5,990			271
	Archer-Daniels-Midland Co.	7,900			228
	The Kroger Co.	8,200			217
	ConAgra Foods, Inc.	12,400			205
	Molson Coors Brewing Co. Class B	3,870			189
	H.J. Heinz Co.	4,500			169
	CVS Caremark Corp.	5,100			147
	Campbell Soup Co.	4,400			132
	Altria Group, Inc.	7,930			119
^*	Dr. Pepper Snapple Group, Inc.	7,200			117
	Kimberly-Clark Corp.	1,970			104
	Reynolds American Inc.	2,140			86
	Alberto-Culver Co.	2,900			71

	The Pepsi Bottling Group, Inc.	3,000		68
	General Mills, Inc.	1,100		67
	Walgreen Co.	1,300		32
	J.M. Smucker Co.	622		27
	The Hershey Co.	700		24
	Corn Products International, Inc.	800		23
	McCormick & Co., Inc.	700		22
	PepsiCo, Inc.	100		5
			4,222
Energy (17.0%)
	ExxonMobil Corp.	42,710		3,410
	Chevron Corp.	21,390		1,582
	ConocoPhillips Co.	16,174		838
	Devon Energy Corp.	5,000		329
	Apache Corp.	3,900		291
	Marathon Oil Corp.	5,400		148
	Anadarko Petroleum Corp.	3,650		141
^*	Encore Acquisition Co.	5,300		135
	XTO Energy, Inc.	3,700		130
^*	Petrohawk Energy Corp.	7,700		120
^*	Newfield Exploration Co.	4,600		91
	Valero Energy Corp.	3,800		82
	Cimarex Energy Co.	2,800		75
^*	Unit Corp.	1,900		51
	Chesapeake Energy Corp.	3,000		48
^*	Forest Oil Corp.	2,800		46
^*	Plains Exploration & Production Co.	1,800		42
	ENSCO International, Inc.	1,300		37
	EOG Resources, Inc.	500		33
	Overseas Shipholding Group Inc.	600		25
	Noble Energy, Inc.	400		20
			7,674
Financials (23.3%)
	JPMorgan Chase & Co.	38,080		1,201
	Wells Fargo & Co.	33,484		987
	Bank of America Corp.	51,917		731
	U.S. Bancorp	18,970		474
	Bank of New York Mellon Corp.	12,843		364
	The Chubb Corp.	6,600		337
	Citigroup Inc.	49,990		335
	The Travelers Cos., Inc.	7,200		326
	The Goldman Sachs Group, Inc.	3,425		289
	BB&T Corp.	10,250		282
	Aon Corp.	5,800		265
	Capital One Financial Corp.	8,040		256
	Progressive Corp. of Ohio	16,200		240
	SunTrust Banks, Inc.	7,560		223
	Unum Group	11,800		220
	Morgan Stanley	13,390		215
	Discover Financial Services	18,845		180
	American Financial Group, Inc.	7,400		169
	State Street Corp.	4,200		165

	Wachovia Corp.	28,940		160
	Hudson City Bancorp, Inc.	10,000		160
	Bank of Hawaii Corp.	3,530		160
	PNC Financial Services Group	3,134		154
	Northern Trust Corp.	2,800		146
	Merrill Lynch & Co., Inc.	11,772		137
	Annaly Capital Management Inc. REIT	8,400		133
	The Allstate Corp.	4,050		133
	Equity Residential REIT	4,280		128
	Marshall & Ilsley Corp.	9,300		127
	MetLife, Inc.	3,591		125
	HCP, Inc. REIT	4,300		119
	PartnerRe Ltd.	1,600		114
	Axis Capital Holdings Ltd.	3,500		102
^*	Arch Capital Group Ltd.	1,400		98
	Ventas, Inc. REIT	2,900		97
	Prudential Financial, Inc.	3,050		92
	Plum Creek Timber Co. Inc. REIT	2,600		90
	Nationwide Health Properties, Inc. REIT	2,900		83
	Liberty Property Trust REIT	3,000		69
	Loews Corp.	2,400		68
	Public Storage, Inc. REIT	800		64
	Essex Property Trust, Inc. REIT	800		61
	ProLogis REIT	4,200		58
	Host Hotels & Resorts Inc. REIT	7,500		57
	Popular, Inc.	10,600		55
	New York Community Bancorp, Inc.	4,300		51
	National City Corp.	27,200		49
	Lincoln National Corp.	2,600		49
^*	The St. Joe Co.	2,000		49
^*	Nasdaq Stock Market Inc.	1,900		47
	Vornado Realty Trust REIT	700		42
	Hospitality Properties Trust REIT	2,600		39
	Apartment Investment & Management Co. Class A REIT	3,061		35
	Developers Diversified Realty Corp. REIT	5,200		25
	Boston Properties, Inc. REIT	400		22
^*	Sovereign Bancorp, Inc.	4,500		13
	Assurant, Inc.	200		6
	CapitalSource Inc. REIT	800		4
	American International Group, Inc.	1,340		2
			10,482
Health Care (13.4%)
	Johnson & Johnson	21,390		1,280
	Pfizer Inc.	70,120		1,242
^*	Amgen Inc.	11,700		676
	Wyeth	12,150		456
	Merck & Co., Inc.	13,780		419
	Eli Lilly & Co.	8,230		331
	Covidien Ltd.	6,175		224
	AmerisourceBergen Corp.	5,600		200
^*	Forest Laboratories, Inc.	7,100		181
	Omnicare, Inc.	6,500		180

	UnitedHealth Group Inc.	6,000		159
^*	WellPoint Inc.	3,590		151
^*	Thermo Fisher Scientific, Inc.	3,700		126
^*	LifePoint Hospitals, Inc.	5,500		126
^*	King Pharmaceuticals, Inc.	4,900		52
	Quest Diagnostics, Inc.	900		47
^*	DaVita, Inc.	900		45
	Teleflex Inc.	880		44
	Universal Health Services Class B	1,100		41
	Bristol-Myers Squibb Co.	1,300		30
^*	HLTH Corp.	2,509		26
^*	Boston Scientific Corp.	1,500		12
			6,048
Industrials (8.7%)
	General Electric Co.	102,650		1,663
	Waste Management, Inc.	6,400		212
	General Dynamics Corp.	3,480		200
	United Technologies Corp.	3,500		188
	Raytheon Co.	3,600		184
	Northrop Grumman Corp.	3,650		164
	L-3 Communications Holdings, Inc.	2,100		155
	FedEx Corp.	2,400		154
	Norfolk Southern Corp.	2,900		136
	Ryder System, Inc.	3,200		124
	Cooper Industries, Inc. Class A	4,100		120
	Illinois Tool Works, Inc.	3,200		112
	Trinity Industries, Inc.	6,800		107
^*	AGCO Corp.	4,000		94
^*	Delta Air Lines Inc.	6,300		72
	The Timken Co.	3,400		67
	The Dun & Bradstreet Corp.	800		62
	Republic Services, Inc. Class A	1,717		43
	Dover Corp.	800		26
^*	Gardner Denver Inc.	800		19
			3,902
Information Technology (2.7%)
^*	Symantec Corp.	18,600		251
	Diebold, Inc.	4,700		132
	CA, Inc.	6,700		124
^*	NCR Corp.	8,000		113
	Intel Corp.	7,700		113
^*	Integrated Device Technology Inc.	17,300		97
^*	Lexmark International, Inc.	3,600		97
^*	QLogic Corp.	4,000		54
	Motorola, Inc.	12,080		54
^*	Synopsys, Inc.	2,600		48
	International Business Machines Corp.	560		47
^*	Genpact, Ltd.	4,400		36
^*	Western Digital Corp.	1,900		22
^*	EMC Corp.	1,500		16
^*	LSI Corp.	1,900		6
			1,210

Materials (3.1%)
	E.I. du Pont de Nemours & Co.	7,500		190
^*	Owens-Illinois, Inc.	6,800		186
	FMC Corp.	3,400		152
	Celanese Corp. Series A	12,138		151
	Eastman Chemical Co.	4,100		130
	Reliance Steel & Aluminum Co.	6,200		124
	United States Steel Corp.	3,000		112
	Dow Chemical Co.	7,310		110
	Freeport-McMoRan Copper & Gold, Inc. Class B	2,900		71
	Nucor Corp.	1,500		69
	Sigma-Aldrich Corp.	1,400		59
	Schnitzer Steel Industries, Inc. Class A	1,200		45
	The Mosaic Co.	500		17
			1,416
Telecommunication Services (6.4%)
	AT&T Inc.	58,213		1,659
	Verizon Communications Inc.	30,140		1,022
	Windstream Corp.	17,100		157
^*	Sprint Nextel Corp.	19,420		35
	Embarq Corp.	739		27
^*	Clearwire Corp.	200		1
			2,901
Utilities (7.0%)
	Southern Co.	8,939		331
	American Electric Power Co., Inc.	8,100		269
	Sempra Energy	5,500		234
	Duke Energy Corp.	15,504		233
	Exelon Corp.	4,100		228
	Entergy Corp.	2,200		183
	Questar Corp.	5,500		180
	Dominion Resources, Inc.	4,668		167
	Alliant Energy Corp.	5,600		163
	FPL Group, Inc.	3,200		161
	TECO Energy, Inc.	12,700		157
	CenterPoint Energy Inc.	12,100		153
	MDU Resources Group, Inc.	6,700		145
	Progress Energy, Inc.	2,800		112
	Hawaiian Electric Industries Inc.	4,700		104
	NSTAR	2,600		95
	ONEOK, Inc.	2,100		61
	Edison International	1,500		48
	FirstEnergy Corp.	884		43
^*	NRG Energy, Inc.	1,500		35
	CMS Energy Corp.	3,100		31
	Pepco Holdings, Inc.	1,558		28
	SCANA Corp.	100		3
			3,164
Total Common Stocks (Cost $59,314)			44,760

			Coupon				Shares	Market Value ($000)
Temporary Cash Investments (0.5%)
Money Market Fund (0.0%)
¹		Vanguard Market Liquidity Fund		1.378%			13,858	14
			Coupon		Maturity Date		Face Amount ($000)	Market Value ($000)
U.S. Agency Obligation (0.5%)
^2,3		Federal Home Loan Mortgage Corp.		2.268%		2/18/09	200	200
Total Temporary Cash Investments (Cost $212)								214
Total Investments (99.8%) (Cost $59,526)								44,974
Other Assets and Liabilities-Net (0.2%)								69
Net Assets (100%)								45,043

*	Non-income-producing security.
1	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
	Vanguard. Rate shown is the 7-day yield.
2	The issuer operates under a congressional charter; its securities are neither issued nor guaranteed by the U.S.
	government.
3	Securities with a value of $200,000 have been segregated as initial margin for open futures contracts.
	REIT—Real Estate Investment Trust.

At December 31, 2008, the cost of investment securities for tax purposes was $59,526,000. Net unrealized depreciation of investment securities for tax purposes was $14,552,000, consisting of unrealized gains of $2,334,000 on securities that had risen in value since their purchase and $16,886,000 in unrealized losses on securities that had fallen in value since their purchase.

Futures Contracts: 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 99.9% and -0.1%, respectively, of net assets. Futures contracts are valued at their quoted daily settlement prices.

At December 31, 2008, the aggregate settlement value of open futures contracts expiring in March 2009 and the related unrealized appreciation (depreciation) were:

		($000)
Futures Contracts	Number of Long (Short) Contracts	Aggregate Settlement Value	Unrealized Appreciation (Depreciation)
S&P 500 Index	1	225	7
E-mini S&P 500 Index	1	45	-

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

Structured Large-Cap Value Fund

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).

The following table summarizes the fund's investments as of December 31, 2008, based on the inputs used to value them:

Valuation Inputs	Investments in Securities ($000)	Futures Contracts ($000)
Level 1- Quoted prices	44,774	7
Level 2- Other significant observable inputs	200	-
Level 3- Significant unobservable inputs	-	-
Total	44,974	7

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 QUANTITATIVE FUNDS

By:	/s/ F. WILLIAM MCNABB III*
	F. WILLIAM MCNABB III
	CHIEF EXECUTIVE OFFICER

Date: FEBRUARY 13, 2009

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 QUANTITATIVE FUNDS

By:	/s/ F. WILLIAM MCNABB III*
	F. WILLIAM MCNABB III
	CHIEF EXECUTIVE OFFICER

Date: FEBRUARY 13, 2009

	VANGUARD QUANTITATIVE FUNDS

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

Date: FEBRUARY 13, 2009

* By: /s/ Heidi Stam

Heidi Stam, pursuant to a Power of Attorney filed on January 18, 2008, see file Number 2-29601, Incorporated by Reference; and pursuant to a Power of Attorney filed on September 26, 2008, see File Number 2-47371, Incorporated by Reference.