Vanguard PRIMECAP Core Fund

Supplement to the Prospectus and Summary Prospectus

As approved by the Fund’s Board of Trustees, Vanguard PRIMECAP Core Fund (the Fund) has reduced its expense ratio. Effective February 3, 2025, the Annual Fund Operating Expenses table and the hypothetical expenses example for the Fund are hereby deleted and replaced with the following:

Prospectus and Summary Prospectus Text Changes for Vanguard PRIMECAP Core Fund

Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) 

Management Fees	0.42 %
12b-1 Distribution Fee	None
Other Expenses	0.01 %
Total Annual Fund Operating Expenses1	0.43 %

1

The expense information shown in the table has been restated to reflect current fees.

Example

The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you were to invest $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you were to redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 

1 Year	3 Years	5 Years	10 Years
$44	$138	$241	$542

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Vanguard Marketing Corporation, Distributor.PS 1220A 022025