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

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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT COMPANY

 

Investment Company Act file number: 811-04526

 

Name of Registrant: VANGUARD QUANTITATIVE FUNDS

 

Address of Registrant:

P.O. Box 2600
Valley Forge, PA 19482

 

Name and address of agent for service:

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

 

Date of fiscal year end: September 30th

 

Date of reporting period: December 31, 2017

 

Item 1: Schedule of Investments

 


Vanguard Growth and Income Fund    
 
 
 
Schedule of Investments (unaudited)    
As of December 31, 2017    
 
      Market
      Value
    Shares ($000)
Common Stocks (97.4%)1    
Consumer Discretionary (11.2%)    
* Amazon.com Inc. 120,677 141,128
  Comcast Corp. Class A 2,380,856 95,353
  Home Depot Inc. 462,934 87,740
  McDonald's Corp. 409,700 70,518
* Priceline Group Inc. 30,834 53,581
  TJX Cos. Inc. 528,536 40,412
  Yum! Brands Inc. 493,185 40,249
  Lowe's Cos. Inc. 408,754 37,990
  Royal Caribbean Cruises Ltd. 247,429 29,513
  Walt Disney Co. 260,951 28,055
  Best Buy Co. Inc. 409,165 28,015
  Ross Stores Inc. 340,384 27,316
* Dollar Tree Inc. 222,830 23,912
  Time Warner Inc. 253,455 23,184
* Michael Kors Holdings Ltd. 357,891 22,529
* Netflix Inc. 117,278 22,513
  BorgWarner Inc. 426,917 21,811
  Carnival Corp. 291,289 19,333
* Aptiv plc 212,668 18,041
  Ralph Lauren Corp. Class A 171,667 17,800
  Foot Locker Inc. 361,360 16,941
  Marriott International Inc. Class A 122,139 16,578
  H&R Block Inc. 621,002 16,283
* Discovery Communications Inc. Class A 703,793 15,751
* Mohawk Industries Inc. 55,899 15,423
  Wyndham Worldwide Corp. 120,796 13,997
  Hilton Worldwide Holdings Inc. 169,475 13,534
  News Corp. Class A 813,002 13,179
  Ford Motor Co. 979,720 12,237
  Darden Restaurants Inc. 123,068 11,817
  Tiffany & Co. 112,963 11,742
  Leggett & Platt Inc. 213,599 10,195
  News Corp. Class B 591,870 9,825
* Charter Communications Inc. Class A 29,173 9,801
  Wynn Resorts Ltd. 56,865 9,587
  Expedia Inc. 79,734 9,550
  DR Horton Inc. 164,280 8,390
  PVH Corp. 54,000 7,409
* LKQ Corp. 177,200 7,207
  Kohl's Corp. 126,480 6,859
  Omnicom Group Inc. 90,893 6,620
* O'Reilly Automotive Inc. 24,140 5,807
  Goodyear Tire & Rubber Co. 142,100 4,591
  Garmin Ltd. 76,130 4,535
  Newell Brands Inc. 138,000 4,264
  Signet Jewelers Ltd. 62,912 3,558
  Starbucks Corp. 60,403 3,469
  Advance Auto Parts Inc. 31,450 3,135
  Dick's Sporting Goods Inc. 105,389 3,029

 

 

  Viacom Inc. Class B 93,960 2,895
  Genuine Parts Co. 29,312 2,785
  Macy's Inc. 107,520 2,708
  Tapestry Inc. 60,165 2,661
* TripAdvisor Inc. 74,600 2,571
  Hanesbrands Inc. 117,353 2,454
* Michaels Cos. Inc. 92,100 2,228
* Visteon Corp. 17,500 2,190
* Sally Beauty Holdings Inc. 116,000 2,176
* Ulta Beauty Inc. 9,187 2,055
  Hasbro Inc. 22,252 2,022
* Delphi Technologies plc 38,322 2,011
  Adtalem Global Education Inc. 39,500 1,661
* Liberty Media Corp-Liberty SiriusXM. Class C 40,300 1,598
  L Brands Inc. 23,540 1,418
  Graham Holdings Co. Class B 2,457 1,372
  Lennar Corp. Class A 19,550 1,236
* DISH Network Corp. Class A 25,560 1,220
*,^ Under Armour Inc. Class A 81,900 1,182
  La-Z-Boy Inc. 37,000 1,154
* Express Inc. 109,000 1,106
  Carter's Inc. 9,400 1,104
* Crocs Inc. 83,500 1,055
* Liberty Media Corp-Liberty SiriusXM. Class A 26,500 1,051
* Ferrari NV 9,200 964
  Adient plc 12,078 951
* Hyatt Hotels Corp. Class A 11,700 860
* ServiceMaster Global Holdings Inc. 16,200 831
* Sleep Number Corp. 20,000 752
  Gentex Corp. 33,200 696
  Brinker International Inc. 17,400 676
  Las Vegas Sands Corp. 8,000 556
* Hibbett Sports Inc. 26,800 547
* Groupon Inc. Class A 103,000 525
* Hilton Grand Vacations Inc. 11,900 499
  GameStop Corp. Class A 26,300 472
* Liberty Ventures Class A 8,000 434
  Big Lots Inc. 6,200 348
* Liberty Expedia Holdings Inc. Class A 7,800 346
  Finish Line Inc. Class A 21,900 318
  International Game Technology plc 11,800 313
* Urban Outfitters Inc. 8,900 312
  Restaurant Brands International Inc. 4,700 289
  Pier 1 Imports Inc. 64,900 269
  Bloomin' Brands Inc. 10,900 233
  Cable One Inc. 305 214
* Deckers Outdoor Corp. 2,500 201
  Magna International Inc. 2,600 147
* La Quinta Holdings Inc. 7,200 133
* Pinnacle Entertainment Inc. 3,900 128
* Liberty Interactive Corp. QVC Group Class A 5,100 125
* Wayfair Inc. 1,500 120
  Big 5 Sporting Goods Corp. 15,323 116
  Tailored Brands Inc. 5,200 113
  Gannett Co. Inc. 8,050 93
  Aaron's Inc. 2,333 93
* Liberty TripAdvisor Holdings Inc. Class A 9,100 86

 

 

* Lumber Liquidators Holdings Inc. 2,700 85
* Iconix Brand Group Inc. 64,616 83
* Kirkland's Inc. 6,800 81
* Liberty Global plc 2,200 74
Williams-Sonoma Inc. 900 47
* Horizon Global Corp. 3,300 46
* MDC Partners Inc. Class A 4,300 42
* Eros International plc 4,100 40
* Burlington Stores Inc. 297 37
Entravision Communications Corp. Class A 4,800 34
* Sotheby's 600 31
Libbey Inc. 3,900 29
Bassett Furniture Industries Inc. 689 26
Sirius XM Holdings Inc. 3,800 20
New Media Investment Group Inc. 1,200 20
* Denny's Corp. 1,491 20
* Nautilus Inc. 1,300 17
* Biglari Holdings Inc. 34 14
* Monarch Casino & Resort Inc. 300 13
Ruth's Hospitality Group Inc. 600 13
* Vera Bradley Inc. 1,000 12
* Bojangles' Inc. 1,000 12
* Vitamin Shoppe Inc. 2,000 9
HSN Inc. 200 8
Cato Corp. Class A 271 4
Aramark 100 4
* Tuesday Morning Corp. 1,190 3
Office Depot Inc. 500 2
    1,181,805
Consumer Staples (7.6%)    
Procter & Gamble Co. 1,338,086 122,943
PepsiCo Inc. 873,376 104,735
Wal-Mart Stores Inc. 740,069 73,082
CVS Health Corp. 912,198 66,134
Coca-Cola Co. 1,115,332 51,172
Philip Morris International Inc. 442,746 46,776
Costco Wholesale Corp. 187,587 34,914
Conagra Brands Inc. 917,943 34,579
Walgreens Boots Alliance Inc. 446,908 32,455
Constellation Brands Inc. Class A 123,303 28,183
Altria Group Inc. 392,562 28,033
Colgate-Palmolive Co. 344,414 25,986
Kimberly-Clark Corp. 209,513 25,280
Hershey Co. 175,447 19,915
Mondelez International Inc. Class A 458,895 19,641
Estee Lauder Cos. Inc. Class A 124,106 15,791
* Monster Beverage Corp. 229,443 14,522
Tyson Foods Inc. Class A 158,376 12,840
Kraft Heinz Co. 154,542 12,017
Dr Pepper Snapple Group Inc. 114,726 11,135
Clorox Co. 59,516 8,852
Molson Coors Brewing Co. Class B 81,200 6,664
* US Foods Holding Corp. 98,000 3,129
Church & Dwight Co. Inc. 60,600 3,040
Kroger Co. 80,980 2,223
Lamb Weston Holdings Inc. 31,800 1,795
* Post Holdings Inc. 15,400 1,220

 

 

* TreeHouse Foods Inc. 20,200 999
* Nomad Foods Ltd. 14,300 242
* Pilgrim's Pride Corp. 3,318 103
Ingredion Inc. 600 84
* Boston Beer Co. Inc. Class A 400 77
* Avon Products Inc. 14,500 31
* USANA Health Sciences Inc. 400 30
* Adecoagro SA 2,600 27
* Central Garden & Pet Co. Class A 700 26
* Edgewell Personal Care Co. 300 18
Coca-Cola European Partners plc 200 8
* HRG Group Inc. 200 3
* Performance Food Group Co. 100 3
    808,707
Energy (6.0%)    
Exxon Mobil Corp. 1,463,602 122,416
Chevron Corp. 954,239 119,461
ConocoPhillips 933,557 51,243
Valero Energy Corp. 472,142 43,395
Marathon Petroleum Corp. 651,349 42,976
Halliburton Co. 843,098 41,202
Phillips 66 359,367 36,350
Schlumberger Ltd. 301,423 20,313
Occidental Petroleum Corp. 264,470 19,481
Anadarko Petroleum Corp. 324,400 17,401
Kinder Morgan Inc. 890,115 16,084
Cabot Oil & Gas Corp. 530,176 15,163
Devon Energy Corp. 324,995 13,455
Cimarex Energy Co. 102,209 12,471
Baker Hughes a GE Co. 361,800 11,447
EOG Resources Inc. 91,800 9,906
ONEOK Inc. 184,000 9,835
Williams Cos. Inc. 177,000 5,397
* Newfield Exploration Co. 152,560 4,810
Marathon Oil Corp. 284,000 4,808
EQT Corp. 47,600 2,709
* Transocean Ltd. 214,860 2,295
Andeavor 19,100 2,184
* Energen Corp. 32,400 1,865
* QEP Resources Inc. 158,300 1,515
* Peabody Energy Corp. 16,300 642
Murphy Oil Corp. 14,700 456
* CONSOL Energy Inc. 7,912 313
* Southwestern Energy Co. 55,400 309
CNX Resources Corp. 20,100 294
World Fuel Services Corp. 4,900 138
* Exterran Corp. 3,800 119
* Superior Energy Services Inc. 10,500 101
Oceaneering International Inc. 4,200 89
* Ultra Petroleum Corp. 8,100 73
Cameco Corp. 6,400 59
* Bonanza Creek Energy Inc. 2,100 58
* Denbury Resources Inc. 24,400 54
Range Resources Corp. 2,900 49
* Kosmos Energy Ltd. 6,151 42
* Helix Energy Solutions Group Inc. 4,900 37
RPC Inc. 1,400 36

 

 

Archrock Inc. 2,600 27
* Diamond Offshore Drilling Inc. 1,400 26
* Matrix Service Co. 1,300 23
* Keane Group Inc. 1,100 21
* W&T Offshore Inc. 5,900 20
* Earthstone Energy Inc. Class A 1,800 19
* Antero Midstream GP LP 100 2
* Select Energy Services Inc. Class A 105 2
    631,191
Financials (14.3%)    
JPMorgan Chase & Co. 1,451,117 155,182
Wells Fargo & Co. 1,793,116 108,788
Bank of America Corp. 3,500,062 103,322
Citigroup Inc. 1,278,255 95,115
* Berkshire Hathaway Inc. Class B 455,192 90,228
Goldman Sachs Group Inc. 169,618 43,212
Allstate Corp. 394,530 41,311
S&P Global Inc. 240,160 40,683
Aflac Inc. 443,049 38,891
Progressive Corp. 688,909 38,799
Morgan Stanley 728,706 38,235
Bank of New York Mellon Corp. 709,259 38,201
T. Rowe Price Group Inc. 322,825 33,874
Fifth Third Bancorp 1,000,661 30,360
State Street Corp. 310,938 30,351
Unum Group 524,261 28,777
Intercontinental Exchange Inc. 380,185 26,826
Ameriprise Financial Inc. 157,422 26,678
Franklin Resources Inc. 597,695 25,898
Synchrony Financial 653,540 25,233
Chubb Ltd. 169,368 24,750
Lincoln National Corp. 306,620 23,570
Citizens Financial Group Inc. 530,741 22,281
Capital One Financial Corp. 218,032 21,712
Comerica Inc. 229,539 19,926
Discover Financial Services 245,815 18,908
M&T Bank Corp. 100,000 17,099
* E*TRADE Financial Corp. 342,187 16,962
Zions Bancorporation 314,337 15,978
Leucadia National Corp. 589,496 15,616
US Bancorp 286,845 15,369
People's United Financial Inc. 790,849 14,789
BlackRock Inc. 28,550 14,666
Everest Re Group Ltd. 63,299 14,006
Willis Towers Watson plc 92,300 13,909
Torchmark Corp. 151,017 13,699
Moody's Corp. 86,300 12,739
Marsh & McLennan Cos. Inc. 149,261 12,148
American Express Co. 90,547 8,992
Principal Financial Group Inc. 124,722 8,800
SunTrust Banks Inc. 132,040 8,528
Raymond James Financial Inc. 92,551 8,265
CME Group Inc. 54,700 7,989
Hartford Financial Services Group Inc. 137,400 7,733
XL Group Ltd. 211,480 7,436
Invesco Ltd. 189,890 6,939
Affiliated Managers Group Inc. 31,820 6,531

 

 

Voya Financial Inc. 124,200 6,144
Travelers Cos. Inc. 44,904 6,091
Nasdaq Inc. 74,864 5,752
Regions Financial Corp. 323,878 5,597
Prudential Financial Inc. 45,852 5,272
Navient Corp. 369,055 4,916
Arthur J Gallagher & Co. 71,700 4,537
Huntington Bancshares Inc. 299,982 4,368
First Horizon National Corp. 200,320 4,004
Loews Corp. 65,980 3,301
Northern Trust Corp. 27,497 2,747
Cincinnati Financial Corp. 33,993 2,548
Assurant Inc. 23,280 2,348
FNF Group 59,800 2,347
Aon plc 15,894 2,130
First American Financial Corp. 35,800 2,006
* Brighthouse Financial Inc. 25,200 1,478
KeyCorp 49,300 994
Ares Capital Corp. 60,000 943
Credicorp Ltd. 4,400 913
American Equity Investment Life Holding Co. 25,700 790
American International Group Inc. 9,617 573
* Flagstar Bancorp Inc. 14,400 539
TCF Financial Corp. 21,500 441
Financial Engines Inc. 11,500 348
* First BanCorp. 52,200 266
Argo Group International Holdings Ltd. 4,200 259
Apollo Investment Corp. 41,000 232
LPL Financial Holdings Inc. 4,000 229
Beneficial Bancorp Inc. 13,200 217
* eHealth Inc. 12,000 208
UBS Group AG 11,200 206
* World Acceptance Corp. 2,000 161
Great Western Bancorp Inc. 3,799 151
East West Bancorp Inc. 2,400 146
Bank of NT Butterfield & Son Ltd. 3,800 138
Assured Guaranty Ltd. 4,000 136
Hanover Insurance Group Inc. 1,200 130
Synovus Financial Corp. 2,500 120
OM Asset Management plc 6,700 112
Valley National Bancorp 10,000 112
Primerica Inc. 1,100 112
Nelnet Inc. Class A 1,900 104
Reinsurance Group of America Inc. Class A 663 103
Kearny Financial Corp. 6,921 100
* PHH Corp. 9,343 96
Meridian Bancorp Inc. 4,000 82
Umpqua Holdings Corp. 3,500 73
* Essent Group Ltd. 1,600 70
UMB Financial Corp. 900 65
Erie Indemnity Co. Class A 500 61
BB&T Corp. 1,200 60
Preferred Bank. 788 46
Heritage Financial Corp. 1,488 46
First Midwest Bancorp Inc. 1,900 46
Old Republic International Corp. 2,000 43
Banner Corp. 600 33

 

 

Federated Investors Inc. Class B 900 32
* Credit Acceptance Corp. 100 32
Oaktree Specialty Lending Corp. 6,200 30
* Green Dot Corp. Class A 483 29
Resource Capital Corp. 2,700 25
Brookline Bancorp Inc. 1,500 24
Arbor Realty Trust Inc. 2,461 21
BGC Partners Inc. Class A 1,400 21
CenterState Bank Corp. 800 21
* Bancorp Inc. 1,936 19
Berkshire Hills Bancorp Inc. 500 18
PennantPark Floating Rate Capital Ltd. 1,300 18
Columbia Banking System Inc. 400 17
* Opus Bank 483 13
Simmons First National Corp. Class A 217 12
PJT Partners Inc. 200 9
* Ambac Financial Group Inc. 500 8
Newtek Business Services Corp. 400 7
THL Credit Inc. 807 7
National General Holdings Corp. 300 6
Investment Technology Group Inc. 300 6
Employers Holdings Inc. 100 4
* Cowen Inc. Class A 300 4
Garrison Capital Inc. 500 4
* Donnelley Financial Solutions Inc. 200 4
OFG Bancorp 300 3
* Genworth Financial Inc. Class A 500 2
    1,514,790
Health Care (13.2%)    
Johnson & Johnson 1,153,955 161,231
Merck & Co. Inc. 2,108,887 118,667
Pfizer Inc. 2,443,211 88,493
AbbVie Inc. 869,583 84,097
UnitedHealth Group Inc. 352,798 77,778
Bristol-Myers Squibb Co. 1,213,124 74,340
Eli Lilly & Co. 723,585 61,114
Cigna Corp. 267,017 54,229
Anthem Inc. 198,326 44,625
Amgen Inc. 240,641 41,847
Baxter International Inc. 616,898 39,876
Agilent Technologies Inc. 560,253 37,520
* Vertex Pharmaceuticals Inc. 230,447 34,535
* Celgene Corp. 326,176 34,040
* Centene Corp. 321,843 32,468
Gilead Sciences Inc. 438,205 31,393
* Intuitive Surgical Inc. 81,657 29,800
Medtronic plc 302,636 24,438
Danaher Corp. 214,854 19,943
* IQVIA Holdings Inc. 200,080 19,588
* Express Scripts Holding Co. 251,289 18,756
* Align Technology Inc. 83,214 18,489
* IDEXX Laboratories Inc. 115,608 18,079
* Boston Scientific Corp. 692,283 17,162
* Mettler-Toledo International Inc. 27,172 16,834
* Biogen Inc. 48,475 15,443
Thermo Fisher Scientific Inc. 78,383 14,883
Humana Inc. 53,800 13,346

 

 

  Becton Dickinson and Co. 57,493 12,307
* Edwards Lifesciences Corp. 108,670 12,248
  Zoetis Inc. 144,057 10,378
  Zimmer Biomet Holdings Inc. 80,000 9,654
  Cooper Cos. Inc. 43,374 9,450
  Abbott Laboratories 158,521 9,047
* DaVita Inc. 125,100 9,038
  Aetna Inc. 42,749 7,712
  McKesson Corp. 48,900 7,626
* Regeneron Pharmaceuticals Inc. 18,326 6,890
* Waters Corp. 32,803 6,337
  Universal Health Services Inc. Class B 53,100 6,019
* Hologic Inc. 132,400 5,660
* Illumina Inc. 23,473 5,129
  Patterson Cos. Inc. 139,320 5,034
* Laboratory Corp. of America Holdings 22,300 3,557
* HCA Healthcare Inc. 39,700 3,487
* Myriad Genetics Inc. 86,100 2,957
* Alexion Pharmaceuticals Inc. 21,558 2,578
  Quest Diagnostics Inc. 26,100 2,571
  Allergan plc 11,900 1,947
* Molina Healthcare Inc. 21,050 1,614
  Perrigo Co. plc 18,440 1,607
* Portola Pharmaceuticals Inc. 28,696 1,397
  Bruker Corp. 39,900 1,369
* Puma Biotechnology Inc. 13,700 1,354
* Incyte Corp. 13,780 1,305
* Sangamo Therapeutics Inc. 62,600 1,027
* Dynavax Technologies Corp. 54,700 1,023
* Charles River Laboratories International Inc. 8,916 976
* MyoKardia Inc. 18,800 791
* PTC Therapeutics Inc. 44,300 739
* Mallinckrodt plc 28,600 645
* Depomed Inc. 76,200 613
* LivaNova plc 7,600 607
* AMAG Pharmaceuticals Inc. 41,900 555
* United Therapeutics Corp. 3,700 547
* Bioverativ Inc. 9,500 512
* Insulet Corp. 6,000 414
*,^ MannKind Corp. 152,281 353
* Allscripts Healthcare Solutions Inc. 22,600 329
* BioMarin Pharmaceutical Inc. 3,300 294
* Momenta Pharmaceuticals Inc. 20,400 285
* Acorda Therapeutics Inc. 10,146 218
* Diplomat Pharmacy Inc. 10,400 209
* Ophthotech Corp. 61,600 192
* OraSure Technologies Inc. 7,700 145
  PerkinElmer Inc. 1,912 140
* HMS Holdings Corp. 8,200 139
* Triple-S Management Corp. Class B 4,800 119
* Horizon Pharma plc 8,000 117
* Tivity Health Inc. 3,100 113
* Masimo Corp. 1,300 110
* INC Research Holdings Inc. Class A 2,500 109
*,^ Rockwell Medical Inc. 14,754 86
* Editas Medicine Inc. 2,500 77
* Rigel Pharmaceuticals Inc. 19,500 76

 

 

* QIAGEN NV 2,100 65
* Endocyte Inc. 14,902 64
* Premier Inc. Class A 2,100 61
* Brookdale Senior Living Inc. 5,200 50
* Agenus Inc. 15,324 50
* Neurocrine Biosciences Inc. 602 47
* Spark Therapeutics Inc. 900 46
* LifePoint Health Inc. 900 45
* Inotek Pharmaceuticals Corp. 16,879 44
* AngioDynamics Inc. 2,600 43
* Innoviva Inc. 2,984 42
  Owens & Minor Inc. 2,200 42
* Alnylam Pharmaceuticals Inc. 300 38
* Eagle Pharmaceuticals Inc. 700 37
* Arrowhead Pharmaceuticals Inc. 9,800 36
* Quidel Corp. 800 35
* Enzo Biochem Inc. 4,060 33
* Taro Pharmaceutical Industries Ltd. 300 31
* Community Health Systems Inc. 5,635 24
* Concert Pharmaceuticals Inc. 900 23
* Sorrento Therapeutics Inc. 5,800 22
* Clovis Oncology Inc. 300 20
* Amicus Therapeutics Inc. 1,300 19
* Catalyst Pharmaceuticals Inc. 4,544 18
* Stemline Therapeutics Inc. 1,122 18
* Acadia Healthcare Co. Inc. 500 16
* Otonomy Inc. 2,600 14
* Select Medical Holdings Corp. 800 14
  Meridian Bioscience Inc. 1,000 14
* Novus Therapeutics Inc. 3,577 14
* uniQure NV 700 14
* Spectrum Pharmaceuticals Inc. 700 13
* OvaScience Inc. 7,700 11
* BioScrip Inc. 3,700 11
* Celldex Therapeutics Inc. 3,500 10
* Madrigal Pharmaceuticals Inc. 100 9
* Chimerix Inc. 1,834 9
* Arbutus Biopharma Corp. 1,600 8
* Immunomedics Inc. 500 8
* Lexicon Pharmaceuticals Inc. 740 7
* Varian Medical Systems Inc. 59 7
* Seres Therapeutics Inc. 641 7
* Exact Sciences Corp. 100 5
* Cardiovascular Systems Inc. 200 5
* Five Prime Therapeutics Inc. 200 4
* Insys Therapeutics Inc. 400 4
* Medpace Holdings Inc. 100 4
* RTI Surgical Inc. 802 3
  Luminex Corp. 155 3
* BioCryst Pharmaceuticals Inc. 613 3
* Quality Systems Inc. 200 3
* Intrexon Corp. 200 2
  Invacare Corp. 100 2
*,^ AquaBounty Technologies Inc. 371 1
  Computer Programs & Systems Inc. 29 1
      1,404,025

 

 

Industrials (10.5%)    
Boeing Co. 317,301 93,575
Honeywell International Inc. 591,523 90,716
Caterpillar Inc. 353,376 55,685
Waste Management Inc. 558,284 48,180
Eaton Corp. plc 587,450 46,414
Deere & Co. 295,309 46,219
Cummins Inc. 254,732 44,996
Raytheon Co. 206,421 38,776
Lockheed Martin Corp. 119,970 38,516
3M Co. 162,658 38,285
Norfolk Southern Corp. 226,170 32,772
Southwest Airlines Co. 467,906 30,624
Rockwell Automation Inc. 155,741 30,580
Ingersoll-Rand plc 291,808 26,026
United Technologies Corp. 197,720 25,223
CSX Corp. 451,139 24,817
Emerson Electric Co. 353,893 24,663
Fortive Corp. 327,330 23,682
* United Rentals Inc. 135,087 23,223
American Airlines Group Inc. 411,076 21,388
Cintas Corp. 112,890 17,592
Pentair plc 244,766 17,285
Masco Corp. 372,300 16,359
Harris Corp. 112,798 15,978
General Dynamics Corp. 75,404 15,341
Kansas City Southern 144,488 15,203
KAR Auction Services Inc. 293,000 14,799
Illinois Tool Works Inc. 78,578 13,111
Spirit AeroSystems Holdings Inc. Class A 150,100 13,096
United Parcel Service Inc. Class B 108,953 12,982
Stanley Black & Decker Inc. 76,432 12,970
General Electric Co. 713,728 12,455
Northrop Grumman Corp. 40,525 12,438
AMETEK Inc. 159,669 11,571
Allegion plc 101,306 8,060
Allison Transmission Holdings Inc. 186,800 8,045
Fortune Brands Home & Security Inc. 111,758 7,649
Dun & Bradstreet Corp. 62,340 7,382
L3 Technologies Inc. 31,460 6,224
Roper Technologies Inc. 23,344 6,046
Republic Services Inc. Class A 89,330 6,040
Expeditors International of Washington Inc. 83,810 5,422
* Quanta Services Inc. 131,636 5,148
Jacobs Engineering Group Inc. 77,060 5,083
Canadian Pacific Railway Ltd. 23,183 4,237
Fluor Corp. 79,600 4,111
Owens Corning 38,500 3,540
Parker-Hannifin Corp. 15,420 3,078
Delta Air Lines Inc. 50,360 2,820
PACCAR Inc. 39,640 2,818
* United Continental Holdings Inc. 38,000 2,561
Old Dominion Freight Line Inc. 19,200 2,526
Arconic Inc. 77,330 2,107
Xylem Inc. 24,105 1,644
Pitney Bowes Inc. 116,000 1,297
* HD Supply Holdings Inc. 30,800 1,233

 

 

Timken Co. 22,700 1,116
* AerCap Holdings NV 19,500 1,026
* MRC Global Inc. 46,900 794
* Continental Building Products Inc. 26,100 735
* Moog Inc. Class A 7,800 677
RPX Corp. 49,118 660
Hubbell Inc. Class B 4,600 623
* XPO Logistics Inc. 5,900 540
* Colfax Corp. 12,700 503
Carlisle Cos. Inc. 4,400 500
Trinity Industries Inc. 10,900 408
* Armstrong World Industries Inc. 6,700 406
Snap-on Inc. 2,220 387
Insperity Inc. 6,400 367
* AECOM 8,400 312
Brady Corp. Class A 6,900 261
BWX Technologies Inc. 3,040 184
EnerSys 2,300 160
* Univar Inc. 4,655 144
* SPX FLOW Inc. 2,800 133
* WABCO Holdings Inc. 900 129
* NCI Building Systems Inc. 6,500 125
* Babcock & Wilcox Enterprises Inc. 21,600 123
* Masonite International Corp. 1,600 119
* Rexnord Corp. 4,500 117
* YRC Worldwide Inc. 8,100 116
* JetBlue Airways Corp. 5,000 112
Albany International Corp. 1,700 104
* Mistras Group Inc. 4,186 98
Chicago Bridge & Iron Co. NV 6,000 97
* Navigant Consulting Inc. 4,798 93
ArcBest Corp. 2,500 89
Werner Enterprises Inc. 2,300 89
Crane Co. 985 88
* FTI Consulting Inc. 1,900 82
Spartan Motors Inc. 5,100 80
* LB Foster Co. Class A 2,557 69
* TrueBlue Inc. 2,500 69
Federal Signal Corp. 3,378 68
* Civeo Corp. 22,200 61
H&E Equipment Services Inc. 1,400 57
* WESCO International Inc. 800 55
* SPX Corp. 1,600 50
* TriNet Group Inc. 1,100 49
Oshkosh Corp. 530 48
Briggs & Stratton Corp. 1,600 41
* GMS Inc. 1,000 38
* Huron Consulting Group Inc. 899 36
* Armstrong Flooring Inc. 2,060 35
* Atkore International Group Inc. 1,500 32
* ARC Document Solutions Inc. 11,400 29
Steelcase Inc. Class A 1,900 29
Matson Inc. 800 24
Global Brass & Copper Holdings Inc. 700 23
* Harsco Corp. 1,200 22
* Textainer Group Holdings Ltd. 1,000 21
* Kirby Corp. 300 20

 

 

Covanta Holding Corp. 1,000 17
Copa Holdings SA Class A 100 13
* Westport Fuel Systems Inc. 3,500 13
* Caesarstone Ltd. 595 13
LSC Communications Inc. 800 12
* Rush Enterprises Inc. Class A 219 11
Ennis Inc. 500 10
* Builders FirstSource Inc. 400 9
* Meritor Inc. 368 9
Quad/Graphics Inc. 300 7
Huntington Ingalls Industries Inc. 27 6
* CAI International Inc. 200 6
Essendant Inc. 600 6
CECO Environmental Corp. 1,000 5
* DXP Enterprises Inc. 157 5
* Milacron Holdings Corp. 208 4
* USG Corp. 100 4
* Gibraltar Industries Inc. 100 3
* Air Transport Services Group Inc. 100 2
Knoll Inc. 69 2
* USA Truck Inc. 86 2
    1,115,243
Information Technology (24.4%)    
Apple Inc. 2,600,038 440,004
Microsoft Corp. 3,140,253 268,617
* Facebook Inc. Class A 962,674 169,873
* Alphabet Inc. Class C 153,611 160,739
* Alphabet Inc. Class A 151,176 159,249
Visa Inc. Class A 800,903 91,319
International Business Machines Corp. 589,984 90,515
Intel Corp. 1,714,857 79,158
Mastercard Inc. Class A 360,126 54,509
QUALCOMM Inc. 775,648 49,657
NVIDIA Corp. 240,102 46,460
Applied Materials Inc. 886,528 45,319
Cisco Systems Inc. 1,142,659 43,764
Texas Instruments Inc. 408,062 42,618
* Electronic Arts Inc. 389,454 40,916
Accenture plc Class A 264,696 40,522
HP Inc. 1,865,414 39,192
* VeriSign Inc. 331,959 37,989
DXC Technology Co. 384,216 36,462
Oracle Corp. 762,787 36,065
Fidelity National Information Services Inc. 382,100 35,952
Broadcom Ltd. 136,496 35,066
Lam Research Corp. 186,336 34,299
* Adobe Systems Inc. 160,398 28,108
Western Digital Corp. 343,629 27,329
* salesforce.com Inc. 211,239 21,595
* Red Hat Inc. 169,571 20,366
* Micron Technology Inc. 474,297 19,503
CSRA Inc. 649,585 19,436
* Cadence Design Systems Inc. 464,367 19,420
* eBay Inc. 500,120 18,875
Cognizant Technology Solutions Corp. Class A 256,670 18,229
* Synopsys Inc. 211,263 18,008
KLA-Tencor Corp. 170,298 17,893

 

 

* Citrix Systems Inc. 201,970 17,773
* Advanced Micro Devices Inc. 1,702,954 17,506
Juniper Networks Inc. 564,948 16,101
Motorola Solutions Inc. 177,585 16,043
NetApp Inc. 278,675 15,416
Analog Devices Inc. 144,300 12,847
* F5 Networks Inc. 86,086 11,296
CA Inc. 335,678 11,171
Intuit Inc. 69,612 10,983
Western Union Co. 542,519 10,313
Paychex Inc. 151,472 10,312
Activision Blizzard Inc. 137,994 8,738
Total System Services Inc. 105,098 8,312
Xilinx Inc. 123,080 8,298
Amphenol Corp. Class A 89,151 7,828
* PayPal Holdings Inc. 106,003 7,804
Skyworks Solutions Inc. 80,255 7,620
* CoreLogic Inc. 128,800 5,952
* ANSYS Inc. 31,978 4,720
FLIR Systems Inc. 98,743 4,603
Seagate Technology plc 90,401 3,782
Versum Materials Inc. 81,803 3,096
* BlackBerry Ltd. 263,600 2,944
* Fiserv Inc. 22,331 2,928
Xerox Corp. 100,228 2,922
Symantec Corp. 98,713 2,770
Corning Inc. 86,125 2,755
* VMware Inc. Class A 18,600 2,331
* Autodesk Inc. 21,015 2,203
* Zynga Inc. Class A 467,800 1,871
* SINA Corp. 17,600 1,765
* First Data Corp. Class A 103,500 1,730
TE Connectivity Ltd. 17,600 1,673
* IAC/InterActiveCorp 12,700 1,553
Sabre Corp. 69,400 1,423
* Take-Two Interactive Software Inc. 12,800 1,405
* Flex Ltd. 72,400 1,303
* Microsemi Corp. 23,700 1,224
LogMeIn Inc. 10,332 1,183
* Cree Inc. 31,600 1,174
* InterXion Holding NV 19,496 1,149
* Palo Alto Networks Inc. 7,100 1,029
* Dell Technologies Inc. Class V 11,147 906
InterDigital Inc. 11,200 853
Microchip Technology Inc. 8,345 733
* Black Knight Inc. 15,900 702
* Kulicke & Soffa Industries Inc. 28,200 686
* Qorvo Inc. 9,300 619
Amdocs Ltd. 8,500 557
* Nuance Communications Inc. 33,800 553
Convergys Corp. 22,902 538
* Conduent Inc. 30,600 495
* Yelp Inc. Class A 11,700 491
* ARRIS International plc 18,900 486
* MicroStrategy Inc. Class A 3,307 434
* First Solar Inc. 5,600 378
Avnet Inc. 8,959 355

 

 

* Tower Semiconductor Ltd. 9,700 331
Dolby Laboratories Inc. Class A 5,200 322
Genpact Ltd. 10,100 321
* FireEye Inc. 22,300 317
* Synaptics Inc. 7,400 296
* Fortinet Inc. 6,600 288
Travelport Worldwide Ltd. 22,004 288
Maxim Integrated Products Inc. 5,400 282
* NCR Corp. 7,400 252
* CommScope Holding Co. Inc. 6,328 239
Vishay Intertechnology Inc. 10,800 224
Progress Software Corp. 4,700 200
* Cornerstone OnDemand Inc. 5,100 180
* Net 1 UEPS Technologies Inc. 13,700 163
* Photronics Inc. 19,001 162
* Rudolph Technologies Inc. 5,793 138
* Trimble Inc. 3,400 138
* Tableau Software Inc. Class A 1,900 132
Xperi Corp. 4,800 117
* Shutterstock Inc. 2,700 116
* NetScout Systems Inc. 3,614 110
Hewlett Packard Enterprise Co. 7,650 110
* Glu Mobile Inc. 25,800 94
* Extreme Networks Inc. 7,500 94
* TrueCar Inc. 6,900 77
* Teradata Corp. 1,900 73
* Etsy Inc. 3,400 70
* Lattice Semiconductor Corp. 11,800 68
* Ambarella Inc. 1,136 67
* Alpha & Omega Semiconductor Ltd. 3,900 64
* CommerceHub Inc. 3,000 62
NVE Corp. 682 59
* TechTarget Inc. 4,200 59
* Celestica Inc. 5,500 58
* Knowles Corp. 3,500 51
* Calix Inc. 8,061 48
NIC Inc. 2,616 43
* KEMET Corp. 2,700 41
* Ribbon Communications Inc. 5,200 40
Science Applications International Corp. 500 38
Cohu Inc. 1,700 37
* Rambus Inc. 2,600 37
* Sanmina Corp. 1,100 36
* XO Group Inc. 1,821 34
* Aspen Technology Inc. 500 33
EVERTEC Inc. 2,300 31
* CommerceHub Inc. Class A 1,350 30
Teradyne Inc. 700 29
* Zix Corp. 6,500 29
* Atlassian Corp. plc Class A 598 27
* Blucora Inc. 1,200 27
* Amkor Technology Inc. 2,600 26
* Sykes Enterprises Inc. 800 25
* Mellanox Technologies Ltd. 386 25
* Rubicon Project Inc. 13,000 24
* EchoStar Corp. Class A 400 24
* DHI Group Inc. 11,400 22

 

 

* Ciena Corp. 1,000 21
* Endurance International Group Holdings Inc. 2,413 20
* SPS Commerce Inc. 400 19
*,^ VirnetX Holding Corp. 4,900 18
* Web.com Group Inc. 800 17
* Euronet Worldwide Inc. 200 17
* 8x8 Inc. 1,100 16
* Orbotech Ltd. 300 15
*,^ MagnaChip Semiconductor Corp. 1,300 13
* SolarEdge Technologies Inc. 300 11
  Daktronics Inc. 1,200 11
* CommVault Systems Inc. 200 11
* Check Point Software Technologies Ltd. 100 10
* Mitel Networks Corp. 1,100 9
  Hackett Group Inc. 500 8
* Vantiv Inc. Class A 100 7
* Care.com Inc. 400 7
* GrubHub Inc. 100 7
  CDK Global Inc. 100 7
* Bazaarvoice Inc. 1,299 7
* Aerohive Networks Inc. 1,000 6
* Everi Holdings Inc. 700 5
* GoDaddy Inc. Class A 100 5
* TTM Technologies Inc. 200 3
  Brooks Automation Inc. 113 3
* MoneyGram International Inc. 200 3
* Akamai Technologies Inc. 2 —
      2,580,265
Materials (3.3%)    
  Air Products & Chemicals Inc. 292,239 47,951
* Freeport-McMoRan Inc. 2,191,958 41,560
  LyondellBasell Industries NV Class A 271,293 29,929
  FMC Corp. 305,967 28,963
  Albemarle Corp. 194,264 24,844
  Praxair Inc. 149,892 23,185
  DowDuPont Inc. 301,680 21,486
  Newmont Mining Corp. 486,118 18,239
  Sealed Air Corp. 278,435 13,727
* Owens-Illinois Inc. 563,580 12,495
  Avery Dennison Corp. 104,447 11,997
  Packaging Corp. of America 88,811 10,706
  PPG Industries Inc. 81,864 9,563
  Ecolab Inc. 57,624 7,732
  Monsanto Co. 57,500 6,715
  Eastman Chemical Co. 70,520 6,533
  Sherwin-Williams Co. 14,623 5,996
  WestRock Co. 76,344 4,826
  Graphic Packaging Holding Co. 304,900 4,711
  Chemours Co. 72,200 3,614
  Nucor Corp. 43,340 2,756
  Mosaic Co. 95,100 2,440
  Ball Corp. 44,400 1,681
  Celanese Corp. Class A 15,000 1,606
* Alcoa Corp. 29,004 1,562
  Methanex Corp. 19,700 1,193
  Reliance Steel & Aluminum Co. 12,500 1,072
* Ferroglobe plc 58,600 949

 

 

* Berry Global Group Inc. 15,800 927
* Allegheny Technologies Inc. 18,610 449
* Coeur Mining Inc. 53,500 401
* Louisiana-Pacific Corp. 14,200 373
* Constellium NV Class A 22,000 245
* Cleveland-Cliffs Inc. 27,807 200
* Crown Holdings Inc. 3,300 186
  Steel Dynamics Inc. 3,618 156
* SunCoke Energy Inc. 10,700 128
  International Flavors & Fragrances Inc. 757 116
  Mercer International Inc. 7,600 109
* Century Aluminum Co. 5,298 104
* AdvanSix Inc. 2,458 103
  Olin Corp. 2,610 93
  WR Grace & Co. 1,222 86
* Axalta Coating Systems Ltd. 2,600 84
* TimkenSteel Corp. 3,300 50
  Schweitzer-Mauduit International Inc. 700 32
* Ryerson Holding Corp. 1,900 20
  Orion Engineered Carbons SA 700 18
^ Israel Chemicals Ltd. 4,000 16
  Tronox Ltd. Class A 400 8
  Martin Marietta Materials Inc. 24 5
  Materion Corp. 99 5
  Worthington Industries Inc. 100 4
  Core Molding Technologies Inc. 200 4
  Warrior Met Coal Inc. 106 3
*,2 Ferroglobe R&W Trust 48,731 —
      351,956
Other (0.2%)    
  SPDR S&P 500 ETF Trust 68,200 18,200
*,2 Safeway Inc. CVR (Casa Ley) Exp. 01/30/2018 75,810 10
* Rizzoli Corriere Della Sera Mediagroup SPA 2,001 3
*,2 Safeway Inc. CVR (PDC) Exp. 01/30/2019 75,810 —
*,2 Biosante Pharmaceutical Inc. CVR 4,189 —
      18,213
Real Estate (2.7%)    
  American Tower Corp. 310,835 44,347
* SBA Communications Corp. Class A 259,183 42,340
  Equity Residential 323,969 20,659
  Weyerhaeuser Co. 527,177 18,588
  AvalonBay Communities Inc. 102,585 18,302
  Iron Mountain Inc. 434,035 16,376
  Prologis Inc. 251,376 16,216
  HCP Inc. 441,700 11,520
  Apartment Investment & Management Co. 250,851 10,965
  Realogy Holdings Corp. 354,500 9,394
  Duke Realty Corp. 290,700 7,910
  Digital Realty Trust Inc. 61,173 6,968
  Equinix Inc. 14,277 6,471
* CBRE Group Inc. Class A 144,945 6,278
  Ventas Inc. 104,231 6,255
  Host Hotels & Resorts Inc. 312,539 6,204
  Public Storage 21,898 4,577
  Welltower Inc. 69,093 4,406
  Extra Space Storage Inc. 45,042 3,939

 

 

Simon Property Group Inc. 21,466 3,687
Essex Property Trust Inc. 14,292 3,450
Crown Castle International Corp. 29,464 3,271
GGP Inc. 119,730 2,800
Park Hotels & Resorts Inc. 76,000 2,185
Equity LifeStyle Properties Inc. 19,000 1,691
Spirit Realty Capital Inc. 160,100 1,374
* Equity Commonwealth 44,609 1,361
Sun Communities Inc. 14,000 1,299
UDR Inc. 31,865 1,227
Liberty Property Trust 24,700 1,062
CoreCivic Inc. 41,600 936
Four Corners Property Trust Inc. 32,469 834
American Homes 4 Rent Class A 19,300 422
SL Green Realty Corp. 2,500 252
Colony NorthStar Inc. Class A 16,400 187
Retail Properties of America Inc. 13,500 181
* Quality Care Properties Inc. 12,499 173
VEREIT Inc. 19,800 154
InfraREIT Inc. 8,300 154
Brixmor Property Group Inc. 8,200 153
Brandywine Realty Trust 6,810 124
Highwoods Properties Inc. 2,300 117
Columbia Property Trust Inc. 5,100 117
Realty Income Corp. 1,395 80
WP Carey Inc. 1,000 69
Community Healthcare Trust Inc. 900 25
Forest City Realty Trust Inc. Class A 700 17
Altisource Residential Corp. 700 8
Douglas Emmett Inc. 200 8
UMH Properties Inc. 400 6
American Assets Trust Inc. 100 4
Outfront Media Inc. 100 2
    289,145
Telecommunication Services (1.6%)    
AT&T Inc. 2,186,269 85,002
Verizon Communications Inc. 1,495,173 79,140
* T-Mobile US Inc. 14,300 908
* Globalstar Inc. 326,200 427
* Boingo Wireless Inc. 15,600 351
* United States Cellular Corp. 417 16
    165,844
Utilities (2.4%)    
American Electric Power Co. Inc. 559,564 41,167
Entergy Corp. 374,951 30,517
CenterPoint Energy Inc. 966,341 27,406
NextEra Energy Inc. 152,910 23,883
NRG Energy Inc. 828,917 23,608
FirstEnergy Corp. 641,930 19,656
Duke Energy Corp. 188,531 15,857
PG&E Corp. 324,495 14,547
Xcel Energy Inc. 166,895 8,029
AES Corp./VA 689,909 7,472
Pinnacle West Capital Corp. 83,390 7,103
Ameren Corp. 115,716 6,826
Dominion Energy Inc. 77,451 6,278

 

 

  Public Service Enterprise Group Inc.     115,800 5,964
  CMS Energy Corp.     85,455 4,042
  NiSource Inc.     156,800 4,025
  DTE Energy Co.     33,219 3,636
  PPL Corp.     89,834 2,780
  Edison International     40,000 2,530
  Westar Energy Inc. Class A     34,500 1,822
  Consolidated Edison Inc.     7,185 610
  Avangrid Inc.     10,974 555
* Atlantic Power Corp.     99,700 234
  Eversource Energy     1,400 89
  Fortis Inc./Canada     2,200 81
  Great Plains Energy Inc.     1,900 61
  Chesapeake Utilities Corp.     388 31
  Alliant Energy Corp.     300 13
  UGI Corp.     200 9
  MGE Energy Inc.     100 6
          258,837
Total Common Stocks (Cost $8,283,028)       10,320,021
    Coupon   Shares  
Temporary Cash Investments (2.6%)1        
Money Market Fund (2.5%)        
3,5Vanguard Market Liquidity Fund 1.458%   2,652,125 265,239
 
        Face  
      Maturity Amount  
      Date ($000)  
U.S. Government and Agency Obligations (0.1%)        
  United States Cash Management Bill 1.029% 1/2/18 800 800
4 United States Treasury Bill 1.084% 2/1/18 4,200 4,196
4 United States Treasury Bill 1.209% 2/8/18 5,000 4,994
4 United States Treasury Bill 1.370% 5/17/18 5,000 4,973
4 United States Treasury Bill 1.446% 5/31/18 600 596
          15,559
Total Temporary Cash Investments (Cost $280,781)       280,798
Total Investments (100.0%) (Cost $8,563,809)       10,600,819
Other Assets and Liabilities-Net (0.0%)4,5       (4,226)
Net Assets (100%)       10,596,593

* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $383,000.
1The 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 99.8% and 0.2%, respectively, of net assets.
2Security value determined using significant unobservable inputs.
3Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
4Securities with a value of $9,271,000 have been segregated as initial margin for open futures contracts.
5Includes $446,000 of collateral received for securities on loan.
CVR—Contingent Value Rights.

 

Growth and Income Fund        
 
 
Derivative Financial Instruments Outstanding as of Period End        
 
Futures Contracts        
        ($000)
        Value and
    Number of   Unrealized
    Long (Short) Notional Appreciation
  Expiration Contracts Amount (Depreciation)
Long Futures Contracts        
E-mini S&P 500 Index March 2018 1,930 258,234 1,589

 

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

A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

B. Various inputs may be used to determine the value of the fund's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest
rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine
the fair value of investments). Any investments valued with significant unobservable inputs are noted
on the Schedule of Investments.

The following table summarizes the market value of the fund's investments as of December 31, 2017, based on the inputs used to value them:

  Level 1 Level 2 Level 3
Investments ($000) ($000) ($000)
Common Stocks 10,320,008 3 10
Temporary Cash Investments 265,239 15,559 —
Futures Contracts—Liabilities1 936 — —
Total 10,586,183 15,562 10
1 Represents variation margin on the last day of the reporting period for recently closed futures contracts.  

 

 

Growth and Income Fund

C. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract.

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

D. At December 31, 2017, the cost of investment securities for tax purposes was $8,563,809,000. Net unrealized appreciation of investment securities for tax purposes was $2,037,010,000, consisting of unrealized gains of $2,127,834,000 on securities that had risen in value since their purchase and $90,824,000 in unrealized losses on securities that had fallen in value since their purchase.


Item 2: Controls and Procedures

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

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

Item 3: Exhibits

(a) Certifications

  VANGUARD QUANTITATIVE FUNDS

 

By:

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

Date: February 20, 2018

 

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

 

  VANGUARD QUANTITATIVE FUNDS

 

By:

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

Date: February 20, 2018

 

 VANGUARD QUANTITATIVE FUNDS

 

By:

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

Date: February 20, 2018

 

*By: /s/ Anne E. Robinson
Anne E. Robinson, pursuant to a Power of Attorney filed on October 4, 2016, see File
Number 33-32548, Incorporated by Reference.