N-Q 1 intlequityindexfinal.htm VANGUARD INTERNATIONAL EQUITY INDEX FUNDS

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: 811-5972

Name of Registrant: VANGUARD INTERNATIONAL EQUITY INDEX 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: October 31

Date of reporting period: January 31, 2009

Item 1: Schedule of Investments


Vanguard Pacific Stock Index Fund

Schedule of Investments

As of January 31, 2009

 

 

 

Shares

Market
Value
($000)

Common Stocks (99.3%)

Australia (16.2%)

 

BHP Billiton Ltd.

11,135,364

 

206,488

 

Westpac Banking Corp., Ltd.

9,272,999

 

90,935

 

Commonwealth Bank of Australia

4,881,515

 

82,943

 

National Australia Bank Ltd.

6,205,940

 

73,195

 

Woolworths Ltd.

4,038,765

 

70,297

 

Australia & New Zealand Bank Group Ltd.

6,771,071

 

56,188

 

QBE Insurance Group Ltd.

3,273,999

 

49,235

 

CSL Ltd.

1,983,999

 

46,784

 

Westfield Group

5,819,154

 

43,921

^

Woodside Petroleum Ltd.

1,598,935

 

35,183

 

Telstra Corp. Ltd.

14,449,018

 

34,470

 

Wesfarmers Ltd.

3,274,004

 

31,826

 

Newcrest Mining Ltd.

1,504,110

 

29,157

 

Origin Energy Ltd.

2,923,882

 

25,764

^

Rio Tinto Ltd.

947,869

 

24,604

 

Foster's Group Ltd.

6,376,504

 

21,928

 

AMP Ltd.

6,222,549

 

20,520

 

Brambles Ltd.

4,590,646

 

19,523

 

Santos Ltd.

1,938,791

 

17,385

 

Insurance Australia Group Ltd.

6,232,644

 

15,226

^

Macquarie Group, Ltd.

932,242

 

14,904

 

Suncorp-Metway Ltd.

3,170,782

 

14,776

 

AGL Energy Ltd.

1,471,501

 

13,560

 

Transurban Group

4,007,658

 

12,915

 

Stockland

4,862,801

 

11,047

 

Coca-Cola Amatil Ltd.

1,829,485

 

10,542

 

Sonic Healthcare Ltd.

1,197,312

 

10,484

 

Orica Ltd.

1,148,272

 

9,655

 

Australian Stock Exchange Ltd.

568,125

 

9,647

 

Amcor Ltd.

2,770,289

 

9,377

 

Incitec Pivot Ltd.

5,612,733

 

9,219

 

AXA Asia Pacific Holdings Ltd.

2,806,179

 

8,291

 

Macquarie Infrastructure Group

7,976,288

 

7,975

 

Toll Holdings Ltd.

2,188,069

 

7,500

 

Tabcorp Holdings Ltd.

1,748,872

 

7,225

^

Computershare Ltd.

1,574,787

 

7,130

 

GPT Group

14,579,658

 

6,907

 

Cochlear Ltd.

185,733

 

6,897

 

Tatt's Group, Ltd.

3,792,543

 

6,841

 

Metcash Ltd.

2,543,380

 

6,725

^

CFS Gandel Retail Trust

5,695,800

 

6,424

 

 

 

 

BlueScope Steel Ltd.

2,892,299

 

6,358

 

Bendigo Bank Ltd.

899,034

 

5,650

 

Dexus Property Group NPV

11,552,411

 

5,439

^

Crown Ltd.

1,560,808

 

5,399

^

Leighton Holdings Ltd.

488,865

 

5,073

 

Lend Lease Corp.

1,200,703

 

5,072

^

Lion Nathan Ltd.

975,549

 

5,021

 

Qantas Airways Ltd.

3,083,451

 

4,723

 

WorleyParsons Ltd.

500,712

 

4,663

 

Wesfarmers, Ltd. Price Protected Shares

480,920

 

4,653

^,*

Fortescue Metals Group Ltd.

4,198,651

 

4,523

 

Goodman Fielder Ltd.

4,419,092

 

4,254

 

OneSteel Ltd.

2,769,186

 

4,169

^

Boral Ltd.

1,935,592

 

3,997

^

John Fairfax Holdings Ltd.

4,525,097

 

3,974

 

CSR Ltd.

4,335,853

 

3,838

 

Macquarie Goodman Group

8,755,513

 

3,834

 

Mirvac Group

5,375,961

 

3,801

 

James Hardie Industries NV

1,447,272

 

3,549

 

OZ Minerals Ltd.

9,899,711

 

3,460

^

Alumina Ltd.

4,832,255

 

3,394

 

Macquarie Airports Group

2,305,793

 

3,305

 

Nufarm Ltd.

466,373

 

3,296

 

Sims Metal Management Ltd.

272,504

 

2,874

 

Billabong International Ltd.

553,472

 

2,565

 

Aristocrat Leisure Ltd.

1,072,972

 

2,532

 

Sims Metal Management Ltd.

235,750

 

2,513

 

Caltex Australia Ltd.

447,732

 

2,455

^

Perpetual Trustees Australia Ltd.

125,907

 

2,405

^

Harvey Norman Holdings Ltd.

1,751,920

 

2,332

 

Macquarie Office Trust

13,671,998

 

1,605

 

Asciano Group

1,936,492

 

1,329

 

1,315,668

Hong Kong (6.3%)

 

CLP Holdings Ltd.

6,791,205

 

45,967

 

Cheung Kong Holdings Ltd.

4,612,686

 

42,560

 

Sun Hung Kai Properties Ltd.

4,681,284

 

41,473

 

Hutchison Whampoa Ltd.

7,072,090

 

35,985

 

Hang Seng Bank Ltd.

2,537,966

 

30,558

^

Hong Kong Exchanges & Clearing Ltd.

3,387,500

 

29,096

 

Hong Kong Electric Holdings Ltd.

4,605,050

 

26,973

 

Hong Kong & China Gas Co., Ltd.

13,274,481

 

21,609

 

Esprit Holdings Ltd.

3,501,978

 

18,589

 

Swire Pacific Ltd. A Shares

2,732,500

 

17,646

 

Hang Lung Properties Ltd.

6,881,720

 

15,470

 

Li & Fung Ltd.

7,475,450

 

14,871

 

Henderson Land Development Co. Ltd.

3,563,593

 

13,612

 

Link REIT

7,166,000

 

13,405

 

Boc Hong Kong Holdings Ltd.

12,281,800

 

12,529

 

 

 

 

Wharf Holdings Ltd.

4,568,903

 

11,290

 

MTR Corp.

4,708,200

 

11,244

 

Bank of East Asia Ltd.

4,712,273

 

9,344

 

Hang Lung Development Co., Ltd.

2,889,000

 

9,305

 

New World Development Co., Ltd.

8,109,146

 

7,687

 

Hopewell Holdings Ltd.

2,083,800

 

6,829

^

PCCW Ltd.

12,375,769

 

6,371

 

Cheung Kong Infrastructure Holdings Ltd.

1,513,600

 

5,658

 

Sino Land Co.

5,641,400

 

5,409

 

Wheelock and Co. Ltd.

3,059,000

 

5,381

 

Shangri-La Asia Ltd.

4,359,068

 

5,077

 

Kerry Properties Ltd.

2,136,313

 

5,000

^

Cathay Pacific Airways Ltd.

3,953,500

 

4,585

 

Yue Yuen Industrial (Holdings) Ltd.

2,205,900

 

4,021

 

Chinese Estates Holdings

2,987,000

 

3,661

 

NWS Holdings Ltd.

2,757,000

 

3,362

 

Television Broadcasts Ltd.

941,764

 

3,333

 

Hysan Development Co., Ltd.

1,900,811

 

3,083

 

Kingboard Chemical Holdings Ltd.

1,812,500

 

2,918

 

Wing Hang Bank Ltd.

594,009

 

2,871

*

Pacific Basin Shipping Ltd.

5,466,000

 

2,803

*

Genting International PLC

9,585,000

 

2,730

*

Foxconn International Holdings Ltd.

7,040,238

 

2,575

 

ASM Pacific Technology Ltd.

643,500

 

1,960

 

Hong Kong Aircraft & Engineering Co., Ltd.

222,000

 

1,948

 

Lifestyle International Holdings, Ltd.

2,267,000

 

1,831

 

Orient Overseas International Ltd.

711,724

 

1,676

^,*

Mongolia Energy Corp. Ltd.

6,003,000

 

1,649

 

Hutchison Telecommunications International Ltd.

5,620,673

 

1,407

 

515,351

Japan (73.3%)

 

Toyota Motor Corp.

9,152,765

 

294,428

 

Mitsubishi UFJ Financial Group

36,468,075

 

202,300

 

Takeda Pharmaceutical Co. Ltd.

2,704,847

 

126,745

 

Tokyo Electric Power Co.

4,040,410

 

126,356

 

Honda Motor Co., Ltd.

5,479,772

 

125,936

 

Nintendo Co.

328,820

 

101,939

 

Canon, Inc.

3,540,449

 

96,605

 

NTT DoCoMo, Inc.

52,116

 

90,789

 

Sumitomo Mitsui Financial Group, Inc.

2,225,800

 

88,211

 

Nippon Telegraph and Telephone Corp.

1,724,100

 

83,502

^

Mizuho Financial Group, Inc.

32,209,000

 

79,726

 

East Japan Railway Co.

1,128,600

 

76,529

 

Matsushita Electric Industrial Co., Ltd.

6,105,563

 

74,077

 

Seven and I Holdings Co., Ltd.

2,707,040

 

72,188

 

Kansai Electric Power Co., Inc.

2,534,700

 

69,471

 

Sony Corp.

3,333,764

 

64,972

 

Shin-Etsu Chemical Co., Ltd.

1,362,400

 

63,744

 

Chubu Electric Power Co.

2,197,400

 

62,349

 

 

 

 

KDDI Corp.

9,676

 

60,415

 

Astellas Pharma Inc.

1,588,898

 

60,159

 

Millea Holdings, Inc.

2,269,200

 

60,104

 

Mitsui & Co., Ltd.

5,753,600

 

60,040

 

Mitsubishi Corp.

4,501,100

 

59,478

 

Daiichi Sankyo Co., Ltd.

2,317,436

 

52,035

 

Mitsubishi Estate Co., Ltd.

3,901,000

 

51,155

 

Nippon Steel Corp.

16,935,343

 

49,727

 

JFE Holdings, Inc.

1,733,400

 

43,079

 

Japan Tobacco, Inc.

14,938

 

42,950

 

Kao Corp.

1,733,661

 

42,106

 

Mitsubishi Heavy Industries Ltd.

10,640,000

 

40,205

 

Softbank Corp.

2,510,918

 

38,816

 

Nomura Holdings Inc.

5,871,800

 

38,031

 

Fanuc Co., Ltd.

635,800

 

37,679

 

Central Japan Railway Co.

5,202

 

37,100

 

Tohoku Electric Power Co.

1,418,500

 

36,526

 

Tokyo Gas Co., Ltd.

7,667,000

 

36,265

 

Mitsui Fudosan Co., Ltd.

2,777,557

 

35,821

 

Toshiba Corp.

10,207,000

 

35,635

 

Fuji Photo Film Co., Ltd.

1,622,366

 

35,470

 

Kyocera Corp.

539,900

 

34,659

 

Hitachi Ltd.

11,175,000

 

34,087

 

Sumitomo Corp.

3,735,756

 

33,807

 

Kyushu Electric Power Co., Inc.

1,259,300

 

32,925

 

Kirin Brewery Co., Ltd.

2,613,048

 

32,773

 

Mitsui Sumitomo Insurance Group Holdings, Inc.

1,258,765

 

32,627

 

Komatsu Ltd.

2,982,968

 

30,795

 

Eisai Co., Ltd.

836,500

 

30,555

 

Mitsubishi Electric Corp.

6,413,000

 

29,433

 

Secom Co., Ltd.

697,100

 

29,272

 

Denso Corp.

1,613,600

 

29,236

 

Fujitsu Ltd.

6,183,000

 

27,794

 

Osaka Gas Co., Ltd.

6,446,000

 

27,464

 

Ricoh Co.

2,225,386

 

27,158

 

Murata Manufacturing Co., Ltd.

710,455

 

26,884

^

Resona Holdings Inc.

1,703,100

 

26,261

 

Bridgestone Corp.

2,023,659

 

25,725

 

Sumitomo Metal Industries Ltd.

12,763,000

 

25,538

^

Sharp Corp.

3,320,000

 

24,649

 

Hoya Corp.

1,371,594

 

24,458

 

Daiwa Securities Group Inc.

4,427,850

 

24,451

^

Kintetsu Corp.

5,397,150

 

24,396

 

Itochu Corp.

5,000,000

 

24,306

 

Chugoku Electric Power Co., Ltd.

923,790

 

24,028

 

Sumitomo Trust & Banking Co., Ltd.

4,724,388

 

23,166

 

West Japan Railway Co.

5,644

 

22,955

 

Keyence Corp.

125,319

 

22,793

 

Nissan Motor Co., Ltd.

7,501,220

 

22,598

 

 

 

 

Hankyu Corp.

4,008,958

 

21,951

 

Mitsui OSK Lines Ltd.

3,804,000

 

21,726

 

Shionogi & Co., Ltd.

994,362

 

21,306

 

T & D Holdings, Inc.

654,360

 

21,151

 

Bank of Yokohama Ltd.

4,096,000

 

20,921

 

Shizuoka Bank Ltd.

2,004,000

 

20,895

 

Tokyo Electron Ltd.

569,530

 

20,876

 

Daikin Industries Ltd.

875,789

 

20,079

 

Fast Retailing Co., Ltd.

158,600

 

20,000

 

Shikoku Electric Power

605,088

 

19,967

 

Asahi Breweries Ltd.

1,284,200

 

19,822

 

Kubota Corp.

3,629,000

 

19,738

 

Inpex Holdings, Inc.

2,745

 

19,700

 

Marubeni Corp.

5,481,000

 

19,507

 

Dai-Nippon Printing Co., Ltd.

1,976,741

 

19,299

^

Toray Industries, Inc.

4,417,740

 

19,103

 

Terumo Corp.

560,059

 

19,017

 

Ajinomoto Co., Inc.

2,207,000

 

19,007

 

Nippon Oil Corp.

4,373,479

 

19,004

 

Sumitomo Electric Industries Ltd.

2,489,400

 

18,738

 

Office Building Fund of Japan Inc.

1,711

 

18,356

 

Shiseido Co., Ltd.

1,090,124

 

18,327

 

Nipponkoa Insurance Co., Ltd.

2,162,193

 

17,684

 

Asahi Glass Co., Ltd.

3,350,200

 

17,496

 

Mitsubishi Chemical Holdings Corp.

4,248,500

 

17,412

 

Sompo Japan Insurance Inc.

2,790,000

 

17,397

 

Nidec Corp.

361,000

 

17,342

 

Nippon Yusen Kabushiki Kaisha Co.

3,676,000

 

17,224

 

Electric Power Development Co., Ltd.

442,740

 

17,101

 

Sumitomo Metal Mining Co.

1,835,000

 

17,081

 

Aeon Co., Ltd.

2,125,300

 

17,067

 

NEC Corp.

6,398,812

 

17,061

 

SMC Corp.

190,877

 

17,019

 

Yamada Denki Co., Ltd.

287,926

 

16,964

 

Ono Pharmaceutical Co., Ltd.

319,773

 

16,862

 

Hokuriku Electric Power Co.

585,032

 

16,713

 

Rohm Co., Ltd.

335,400

 

16,658

 

Odakyu Electric Railway Co.

2,080,000

 

16,570

 

Sumitomo Chemical Co.

5,222,000

 

16,547

 

Tokyu Corp.

3,775,000

 

16,382

 

Asahi Kasei Corp.

3,957,000

 

16,187

^,*

Mitsubishi Motors Corp.

11,946,620

 

15,895

 

Suzuki Motor Corp.

1,171,757

 

15,818

^

Yahoo Japan Corp.

49,197

 

15,609

 

Hokkaido Electric Power Co., Ltd.

643,461

 

15,568

 

TDK Corp.

408,600

 

15,342

 

Daiwa House Industry Co., Ltd.

1,694,000

 

15,157

^

Tobu Railway Co., Ltd.

2,711,000

 

14,837

 

Sumitomo Realty & Development Co.

1,264,772

 

14,486

 

 

 

 

Chugai Pharmaceutical Co., Ltd.

743,100

 

14,334

 

Chiba Bank Ltd.

2,531,000

 

14,199

 

OJI Paper Co., Ltd.

2,829,740

 

13,432

 

NTT Data Corp.

4,190

 

13,385

 

Orix Corp.

306,036

 

13,361

^

Oriental Land Co., Ltd.

173,800

 

13,214

 

Yamato Holdings Co., Ltd.

1,293,000

 

13,132

 

Kobe Steel Ltd.

8,790,095

 

13,126

 

Mitsui Trust Holding Inc.

3,267,400

 

12,853

^

Rakuten, Inc.

21,712

 

12,800

 

Japan Steel Works Ltd.

1,173,832

 

12,655

 

Joyo Bank Ltd.

2,319,000

 

12,577

 

Japan Real Estate Investment Corp.

1,394

 

12,564

 

Konica Minolta Holdings, Inc.

1,589,500

 

12,378

 

Sekisui House Ltd.

1,462,858

 

12,287

^

Olympus Corp.

763,464

 

12,255

 

Toyoda Automatic Loom Works Ltd.

594,800

 

11,885

 

Nikon Corp.

1,131,718

 

11,780

 

JS Group Corp.

883,408

 

11,777

 

Toppan Printing Co., Ltd.

1,742,000

 

11,730

 

Daito Trust Construction Co., Ltd.

267,584

 

11,517

 

Lawson Inc.

231,400

 

11,435

^

Dentsu Inc.

646,200

 

11,105

 

Tanabe Seiyaku Co., Ltd.

743,000

 

10,992

^

Keihin Electric Express Railway Co., Ltd.

1,422,000

 

10,891

 

NGK Insulators Ltd.

843,534

 

10,841

^

Bank of Kyoto Ltd.

1,027,000

 

10,808

 

Nippon Mining Holdings Inc.

2,927,500

 

10,647

 

Benesse Corp.

246,857

 

10,540

 

JGC Corp.

729,000

 

10,300

 

Keio Electric Railway Co., Ltd.

1,921,000

 

10,210

 

Nitto Denko Corp.

547,900

 

10,163

 

Hirose Electric Co., Ltd.

106,600

 

10,070

 

Matsushita Electric Works, Ltd.

1,249,000

 

9,813

 

Toho Gas Co., Ltd.

1,572,297

 

9,596

 

Ohbayashi Corp.

2,036,000

 

9,571

 

Mitsubishi Materials Corp.

3,819,000

 

9,514

 

Trend Micro Inc.

348,000

 

9,490

 

Nippon Express Co., Ltd.

2,648,000

 

9,478

 

Sony Financial Holdings, Inc.

2,875

 

9,476

 

The Iyo Bank, Ltd.

803,331

 

9,458

 

Nissin Food Products Co., Ltd.

275,300

 

9,430

 

Uni-Charm Corp.

136,800

 

9,426

 

Nitori Co., Ltd.

133,118

 

9,395

 

Ibiden Co., Ltd.

450,739

 

9,119

^

Kawasaki Heavy Industries Ltd.

4,990,000

 

9,073

 

TonenGeneral Sekiyu K.K.

934,000

 

9,024

 

Kuraray Co., Ltd.

1,146,000

 

9,015

 

Nippon Paper Group, Inc.

298,400

 

8,862

 

 

 

 

Shimizu Corp.

1,963,000

 

8,856

 

Taisho Pharmaceutical Co.

424,000

 

8,655

^,*

Sanyo Electric Co., Ltd.

5,590,000

 

8,604

 

Fukuoka Financial Group, Inc.

2,557,600

 

8,579

 

Aisin Seiki Co., Ltd.

635,538

 

8,548

 

Sankyo Co., Ltd.

178,200

 

8,547

 

Kurita Water Industries Ltd.

372,700

 

8,420

 

Hisamitsu Pharmaceutical Co. Inc.

219,845

 

8,161

 

Omron Corp.

673,800

 

8,025

^

All Nippon Airways Co., Ltd.

2,135,000

 

8,014

 

Sekisui Chemical Co.

1,435,000

 

7,987

 

Toyo Seikan Kaisha Ltd.

538,600

 

7,984

 

The Hachijuni Bank Ltd.

1,423,550

 

7,971

 

Santen Pharmaceutical Co., Ltd.

244,900

 

7,886

^,*

Isetan Mitsukoshi Holdings Ltd.

1,093,580

 

7,856

 

Kyowa Hakko Kogyo Co.

864,589

 

7,805

 

Yamaguchi Financial Group, Inc.

699,473

 

7,770

 

Hokuhoku Financial Group, Inc.

3,920,400

 

7,763

 

Toyo Suisan Kaisha, Ltd.

294,000

 

7,752

 

Sega Sammy Holdings Inc.

608,832

 

7,703

 

Nippon Electric Glass Co., Ltd.

1,157,097

 

7,637

^

Shimano, Inc.

222,600

 

7,611

 

Nippon Meat Packers, Inc.

604,000

 

7,610

 

Gunma Bank Ltd.

1,314,000

 

7,610

 

Jupiter Telecommunications Co., Ltd.

8,047

 

7,607

 

The Chugoku Bank, Ltd.

539,439

 

7,584

 

Kajima Corp.

2,810,000

 

7,411

 

Makita Corp.

405,800

 

7,380

 

Aioi Insurance Co., Ltd.

1,505,000

 

7,354

 

Kawasaki Kisen Kaisha Ltd.

2,013,000

 

7,335

 

Furukawa Electric Co.

2,109,000

 

7,287

 

Ube Industries Ltd.

3,350,000

 

7,220

 

JSR Corp.

592,700

 

7,206

 

FamilyMart Co., Ltd.

194,200

 

7,093

 

Teijin Ltd.

2,940,000

 

7,064

 

The Hiroshima Bank, Ltd.

1,660,650

 

7,058

 

Taisei Corp.

3,178,000

 

7,017

 

Kamigumi Co., Ltd.

865,000

 

6,854

 

Nomura Research Institute, Ltd.

372,680

 

6,755

 

SBI Holdings, Inc.

55,525

 

6,707

^

Advantest Corp.

496,036

 

6,697

^

Takashimaya Co.

990,972

 

6,668

 

Konami Corp.

333,249

 

6,667

 

Namco Bandai Holdings Inc.

661,300

 

6,609

 

The Suruga Bank, Ltd.

748,000

 

6,584

 

Tsumura & Co.

199,400

 

6,574

^

Yakult Honsha Co., Ltd.

322,200

 

6,563

 

Toho Co., Ltd.

375,300

 

6,547

^

Shinsei Bank, Ltd.

5,116,046

 

6,535

 

 

 

^,*

Japan Airlines System Co.

2,987,000

 

6,444

 

Nisshin Seifun Group Inc.

584,100

 

6,348

 

Toyota Tsusho Corp.

702,904

 

6,304

 

Sojitz Holdings Corp.

4,102,600

 

6,286

 

Yamaha Motor Co., Ltd.

667,800

 

6,264

 

Casio Computer Co.

785,600

 

6,170

 

J. Front Retailing Co., Ltd.

1,688,400

 

6,074

 

Sumitomo Heavy Industries Ltd.

1,906,000

 

6,051

 

Nippon Sanso Corp.

936,000

 

6,040

 

Mitsui Chemicals, Inc.

2,097,000

 

6,028

 

Susuken Co., Ltd.

233,620

 

6,023

 

Showa Shell Sekiyu K.K.

626,900

 

5,869

 

The Nishi-Nippon City Bank, Ltd.

2,379,307

 

5,839

 

Nomura Real Estate Office Fund, Inc.

918

 

5,775

 

Amada Co., Ltd.

1,203,000

 

5,749

 

77 Bank Ltd.

1,142,000

 

5,732

^

Square Enix Co., Ltd.

209,900

 

5,635

 

Fuji Heavy Industries Ltd.

1,941,189

 

5,594

^

Acom Co., Ltd.

159,390

 

5,577

^

Sumco Corp.

427,816

 

5,535

^

Yamazaki Baking Co., Ltd.

402,000

 

5,422

 

Mediceo Paltac Holdings Co., Ltd.

486,161

 

5,402

 

Daihatsu Motor Co., Ltd.

637,507

 

5,375

 

Seiko Epson Corp.

422,400

 

5,362

 

Credit Saison Co., Ltd.

541,552

 

5,312

 

Kaneka Corp.

983,982

 

5,262

 

Showa Denko K.K.

3,939,000

 

5,234

 

Mizuho Trust & Banking Co., Ltd.

4,989,950

 

5,169

 

Mitsubishi Gas Chemical Co.

1,289,000

 

5,120

 

IHI Corp.

4,394,000

 

5,103

 

Shimamura Co., Ltd.

72,700

 

5,102

 

Japan Retail Fund Investment Corp.

1,152

 

5,067

 

THK Co., Inc.

399,000

 

5,065

^

Oracle Corp. Japan

127,100

 

5,059

 

Kikkoman Corp.

527,000

 

5,050

 

Shimadzu Corp.

833,787

 

5,043

 

Brother Industries Ltd.

778,262

 

5,034

 

Ushio Inc.

392,200

 

4,974

 

Uny Co., Ltd.

596,000

 

4,954

 

Keisei Electric Railway Co., Ltd.

914,000

 

4,917

 

Nippon Sheet Glass Co., Ltd.

2,005,000

 

4,906

 

Isuzu Motors Ltd.

4,206,728

 

4,883

 

Yamaha Corp.

556,700

 

4,869

 

Cosmo Oil Co., Ltd.

1,823,000

 

4,849

 

Stanley Electric Co.

500,300

 

4,828

 

Japan Prime Realty Investment Corp.

1,864

 

4,778

 

Idemitsu Kosan Co. Ltd.

73,147

 

4,773

 

Mazda Motor Corp.

3,048,422

 

4,726

 

Dai Nippon Pharmaceutical Co., Ltd.

531,000

 

4,723

 

 

 

 

Tokyu Land Corp.

1,508,000

 

4,705

 

NSK Ltd.

1,459,000

 

4,683

^

Toto Ltd.

861,000

 

4,546

 

Mitsubishi UFJ Lease & Finance Company Ltd.

192,120

 

4,532

 

NGK Spark Plug Co.

569,682

 

4,380

 

Marui Co., Ltd.

845,100

 

4,368

 

Citizen Watch Co., Ltd.

1,071,600

 

4,363

 

Tokuyama Corp.

732,000

 

4,361

 

Japan Petroleum Exploration Co., Ltd.

94,285

 

4,348

^

Mitsubishi Rayon Co., Ltd.

1,795,000

 

4,302

*

Seven Bank, Ltd.

1,414

 

4,286

 

Alfresa Holdings Corp.

97,900

 

4,154

 

Nisshin Steel Co.

2,482,000

 

4,147

 

Taiheiyo Cement Corp.

3,005,000

 

4,118

 

Meiji Dairies Corp.

872,000

 

4,093

 

Daicel Chemical Industries Ltd.

913,000

 

4,013

 

Haseko Corp.

4,269,655

 

3,967

 

Sapporo Holdings Ltd.

855,000

 

3,938

 

Asics Corp.

527,139

 

3,924

 

JTEKT Corp.

634,823

 

3,924

 

Kinden Corp.

441,000

 

3,893

 

Mitsubishi Logistics Corp.

381,000

 

3,870

 

Hitachi Chemical Co., Ltd.

346,800

 

3,778

 

Coca-Cola West Japan Co., Ltd.

183,100

 

3,770

 

NTN Corp.

1,406,000

 

3,746

 

Mabuchi Motor Co.

99,800

 

3,745

^

Promise Co., Ltd.

202,300

 

3,713

 

Kansai Paint Co., Ltd.

722,000

 

3,643

 

Minebea Co., Ltd.

1,195,000

 

3,624

 

Nissan Chemical Industries, Ltd.

480,000

 

3,608

 

Obic Co., Ltd.

23,130

 

3,592

 

Mitsui Engineering & Shipbuilding Co., Ltd.

2,347,000

 

3,585

 

Leopalace21 Corp.

423,700

 

3,575

 

Mitsumi Electric Co., Ltd.

274,500

 

3,566

 

Tosoh Corp.

1,692,000

 

3,547

 

Sumitomo Rubber Industries Ltd.

563,400

 

3,539

 

Sapporo Hokuyo Holdings, Inc.

993,600

 

3,538

 

Tokyo Steel Manufacturing Co.

360,400

 

3,533

^

Hitachi Construction Machinery Co.

355,278

 

3,482

 

Shinko Securities Co., Ltd.

1,746,000

 

3,482

 

USS Co., Ltd.

81,190

 

3,472

 

Hakuhodo DY Holdings Inc.

77,540

 

3,466

 

Yokogawa Electric Corp.

756,097

 

3,438

 

Mitsui Mining & Smelting Co., Ltd.

1,899,000

 

3,413

 

Hitachi High-Technologies Corp.

226,675

 

3,390

 

Canon Sales Co. Inc.

225,500

 

3,318

 

Denki Kagaku Kogyo K.K.

1,590,000

 

3,315

 

NTT Urban Development Corp.

3,801

 

3,266

 

Nisshinbo Industries, Inc.

443,000

 

3,235

 

 

 

 

Dai-Nippon Ink & Chemicals, Inc.

1,980,000

 

3,202

 

Yamato Kogyo Co., Ltd.

130,400

 

3,154

 

Dowa Fire & Marine Insurance Co.

580,000

 

3,077

^

Nomura Real Estate Holdings Inc.

173,000

 

3,065

^

Matsui Securities Co., Ltd.

399,300

 

2,986

^

Tokyo Tatemono Co., Ltd.

893,000

 

2,981

^

Ito En, Ltd.

212,400

 

2,955

^

Maruichi Steel Tube Ltd.

125,200

 

2,945

 

Onward Kashiyama Co., Ltd.

426,000

 

2,890

 

Yaskawa Electric Corp.

791,380

 

2,884

 

Dowa Mining Co., Ltd.

909,000

 

2,882

 

AEON Mall Co., Ltd.

209,000

 

2,868

^,*

DeNA Co., Ltd.

968

 

2,856

 

Hitachi Metals Ltd.

542,320

 

2,794

 

Daido Steel Co., Ltd.

1,005,000

 

2,745

 

ABC-Mart Inc.

82,300

 

2,701

 

NOK Corp.

371,200

 

2,608

^,*

Elpida Memory Inc.

365,900

 

2,578

^

Takefuji Corp.

356,440

 

2,517

 

Toyoda Gosei Co., Ltd.

213,600

 

2,419

 

Aozora Bank, Ltd.

2,162,000

 

2,414

 

Alps Electric Co., Ltd.

565,200

 

2,373

 

Aeon Credit Service Co. Ltd.

260,090

 

2,348

 

Otsuka Corp.

52,564

 

2,336

 

Fuji Electric Holdings Co., Ltd.

1,855,000

 

2,211

^

JAFCO Co., Ltd.

111,600

 

2,205

^

Itochu Techno-Science Corp.

97,600

 

2,173

 

Fuji Television Network, Inc.

1,547

 

1,969

 

NHK Spring Co.

527,000

 

1,903

^

Shinko Electric Industries Co., Ltd.

224,753

 

1,897

 

Toyota Boshoku Corp.

218,200

 

1,753

 

Tokyo Broadcasting System Holdings, Inc.

124,700

 

1,697

 

Hino Motors, Ltd.

861,000

 

1,515

 

Hikari Tsushin, Inc.

85,100

 

1,510

^

Osaka Titanium Technologies Co.

59,826

 

1,298

*

NEC Electronics Corp.

123,200

 

853

*

Dowa Mining Co., Ltd. Rights Exp. 1/29/10

425,000

 

69

 

5,965,761

New Zealand (0.3%)

 

Telecom Corp. of New Zealand Ltd.

6,112,851

 

8,209

 

Fletcher Building Ltd.

1,669,483

 

4,728

 

Contact Energy Ltd.

963,853

 

3,336

 

Auckland International Airport Ltd.

3,222,696

 

2,959

 

Sky City Entertainment Group Ltd.

1,638,940

 

2,555

 

21,787

Singapore (3.2%)

 

Singapore Telecommunications Ltd.

26,414,872

 

45,850

 

DBS Group Holdings Ltd.

5,678,741

 

32,694

 

United Overseas Bank Ltd.

4,046,567

 

31,402

 

 

 

 

Oversea-Chinese Banking Corp., Ltd.

8,300,068

 

27,861

 

Singapore Airlines Ltd.

1,773,010

 

12,958

 

Keppel Corp., Ltd.

4,227,500

 

11,131

 

Singapore Exchange Ltd.

2,835,846

 

9,504

 

Singapore Press Holdings Ltd.

5,052,833

 

9,328

 

Capitaland Ltd.

5,622,895

 

8,707

 

Singapore Technologies Engineering Ltd.

4,498,407

 

6,703

 

City Developments Ltd.

1,669,412

 

6,146

 

Fraser & Neave Ltd.

3,240,500

 

6,077

 

ComfortDelGro Corp. Ltd.

6,297,586

 

6,003

 

Wilmar International Ltd.

2,779,000

 

5,226

 

Sembcorp Industries Ltd.

3,259,393

 

4,845

 

CapitaMall Trust

3,867,148

 

4,010

 

Ascendas REIT

4,228,000

 

3,995

 

Noble Group Ltd.

5,473,600

 

3,687

 

Jardine Cycle N Carriage Ltd.

485,128

 

3,416

 

Golden Agri-Resources Ltd.

16,534,000

 

3,305

 

Olam International Ltd.

3,949,100

 

3,167

 

SembCorp Marine Ltd.

2,762,800

 

2,832

 

Parkway Holdings Ltd.

3,034,705

 

2,289

 

United Overseas Land Ltd.

1,729,916

 

2,206

 

Cosco Corp. Singapore Ltd.

2,982,000

 

1,520

 

Neptune Orient Lines Ltd.

1,712,000

 

1,248

*

Ascendas REIT Rights Exp. 2/5/09

220,600

 

44

 

256,154

Total Common Stocks (Cost $12,033,378)

8,074,721

 

 

Coupon

 

Shares

Market
Value
($000)

Temporary Cash Investments (6.4%)

Money Market Fund (6.2%)

1,2

Vanguard Market Liquidity Fund

0.780%

 

508,069,927

508,070

 

 

Coupon

Maturity
Date

Face
Amount ($000)

Market
Value
($000)

U.S. Agency Obligations (0.2%)

3,4

Federal Home Loan Bank

2.674%

2/27/09

2,000

2,000

3,4

Federal Home Loan Mortgage Corp.

1.912%

2/27/09

2,500

2,500

3,4

Federal Home Loan Mortgage Corp.

1.256%

3/23/09

2,000

1,999

3,4

Federal Home Loan Mortgage Corp.

1.307%

4/14/09

10,000

9,992

 

16,491

Total Temporary Cash Investments
(Cost $524,533)

 

524,561

Total Investments (105.7%) (Cost $12,557,911)

8,599,282

Other Assets and Liabilities-Net (-5.7%)2

(463,760)

Net Assets (100%)

8,135,522

 

 

 

 

^

Part of security position is on loan to broker-dealers. The total value of securities on loan is $424,611,000.

*

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

Includes $454,266,000 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 $16,491,000 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 affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued at their fair values calculated according to procedures adopted by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund's pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities. 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.

Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

At January 31, 2009, the cost of investment securities for tax purposes was $12,567,421,000. Net unrealized depreciation of investment securities for tax purposes was $3,968,139,000, consisting of unrealized gains of $199,146,000 on securities that had risen in value since their purchase and $4,167,285,000 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 5.7%, respectively, of net assets. Futures contracts are valued at their quoted daily settlement prices.

At January 31, 2009, 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 ASX 200 Index

269

14,938

132

Topix Index

536

47,148

(695)

 

 

Pacific Stock Index Fund

 

Forward Currency Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The fund’s risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts.               

 

 

 

 

 

Unrealized

 

Contract Amount (000)

Appreciation

 

 

 

 

 

(Depreciation)

Contract Settlement Date

Receive

Deliver

($000)

 

 

 

 

 

 

3/25/09

AUD

23,255

USD

14,735

(283)

3/18/09

JPY

4,237,080

USD

47,217

(247)

 

 

 

 

 

 

AUD-Australian dollar.

 

 

 

 

 

JPY-Japanese yen.

 

 

 

 

 

USD-U.S. dollars.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized appreciation (depreciation) on open forward currency contracts

is treated as realized gain (loss) for tax purposes.

Forward currency contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized forward currency contract gains (losses).

Pacific Stock Index 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 January 31, 2009, based on the inputs used to value them:

Valuation Inputs

Investments in Securities ($000)

Futures

Contracts

($000)

Forward

Currency

Contracts

($000)

Level 1- Quoted prices

510,583

(563)

(530)

Level 2- Other significant observable inputs

8,088,699

-

-

Level 3- Significant unobservable inputs

-

-

-

Total

8,599,282

(563)

(530)

 

 

 


Vanguard European Stock Index Fund

Schedule of Investments

As of January 31, 2009

 

 

 

Shares

Market
Value
($000)

Common Stocks (99.4%)

Austria (0.5%)

 

Telekom Austria AG

1,138,472

 

15,978

 

OMV AG

544,150

 

15,507

 

Oesterreichische Elektrizitaetswirtschafts AG Class A

252,931

 

9,671

 

Erste Bank der Oesterreichischen Sparkassen AG

624,998

 

9,387

 

Voestalpine AG

373,489

 

7,219

 

Vienna Insurance Group

128,055

 

3,997

 

Raiffeisen International Bank-Holding AG

178,563

 

3,623

 

Wienerberger AG

274,984

 

3,523

 

Strabag SE

165,303

 

3,037

 

71,942

Belgium (1.3%)

 

Anheuser-Busch InBev NV

1,576,425

 

40,010

 

Delhaize Group

329,318

 

21,162

 

Groupe Bruxelles Lambert SA

265,158

 

19,463

 

Belgacom SA

555,315

 

19,374

 

Fortis

7,340,726

 

14,569

 

Solvay SA

194,831

 

13,762

 

Colruyt NV

54,583

 

12,076

^

UCB SA

334,065

 

10,378

 

KBC Bank & Verzekerings Holding

527,236

 

9,553

 

Umicore

411,380

 

7,647

 

Mobistar SA

101,989

 

7,485

 

Compagnie Nationale a Portefeuille

127,442

 

6,008

^

Dexia

1,731,671

 

5,393

^

KBC Ancora

105,038

 

849

 

187,729

Denmark (1.4%)

 

Novo Nordisk A/S B Shares

1,471,671

 

78,401

*

Vestas Wind Systems A/S

609,468

 

29,352

 

AP Moller-Maersk A/S B Shares

3,621

 

17,307

 

Danske Bank A/S

1,493,621

 

14,999

 

Novozymes A/S

151,258

 

12,023

 

AP Moller-Maersk A/S A Shares

1,811

 

8,771

 

Carlsberg A/S B Shares

235,649

 

7,787

*

Topdanmark A/S

51,756

 

6,153

^

DSV A/S

617,354

 

6,063

 

Danisco A/S

159,759

 

5,864

 

 

 

^

Trygvesta A/S

89,595

 

5,308

^

Coloplast A/S B Shares

80,497

 

4,920

^

FLS Industries A/S B Shares

175,827

 

4,807

*

Jyske Bank A/S

166,007

 

3,762

^,*

William Demant A/S

74,895

 

2,477

 

207,994

Finland (2.0%)

 

Nokia Oyj

12,497,844

 

153,179

 

Fortum Oyj

1,456,350

 

28,412

 

Sampo Oyj A Shares

1,403,477

 

22,529

 

UPM-Kymmene Oyj

1,711,970

 

16,176

 

Stora Enso Oyj R Shares

1,908,431

 

11,629

 

Kone Oyj

503,129

 

10,520

 

Wartsila Oyj B Shares

274,205

 

7,338

 

Elisa Oyj Class A

459,734

 

7,272

^

Neste Oil Oyj

418,163

 

6,054

^

Kesko Oyj

217,588

 

5,349

 

Orion Oyj

297,416

 

5,125

 

Rautaruuki Oyj

281,523

 

4,470

 

Outokumpu Oyj A Shares

390,572

 

4,449

 

Pohjola Bank PLC

369,775

 

4,330

 

Metso Oyj

411,665

 

3,997

^

Nokian Renkaat Oyj

349,545

 

3,415

^

Sanoma Oyj

268,468

 

3,145

 

297,389

France (15.3%)

 

Total SA

7,015,381

 

349,606

 

Sanofi-Aventis

3,458,809

 

194,534

 

Gaz de France

3,603,335

 

137,860

 

France Telecom SA

6,017,946

 

134,856

 

BNP Paribas SA

2,698,452

 

103,016

 

Vivendi SA

3,846,714

 

99,093

 

Axa

5,090,623

 

80,171

 

Groupe Danone

1,436,156

 

73,713

 

Carrefour SA

2,086,212

 

71,139

 

Societe Generale Class A

1,555,871

 

65,055

 

Air Liquide SA

815,007

 

59,266

 

L'Oreal SA

804,537

 

53,358

 

Vinci SA

1,378,574

 

47,023

 

Schneider Electric SA

732,553

 

46,358

 

LVMH Louis Vuitton Moet Hennessy

806,281

 

43,915

 

Unibail Co.

269,245

 

36,096

 

Credit Agricole SA

2,923,623

 

35,391

 

Pernod Ricard SA

540,923

 

33,923

 

Alstom

697,991

 

33,534

 

Electricite de France

659,385

 

32,136

 

 

 

 

Cie. de St. Gobain SA

945,585

 

31,943

 

Veolia Environnement

1,244,664

 

28,008

 

Bouygues SA

787,680

 

26,823

 

Essilor International SA

662,132

 

25,199

^

Accor SA

627,717

 

24,778

^

Hermes International

226,956

 

22,833

^

Lafarge SA

415,318

 

19,076

 

Compagnie Generale des Etablissements Michelin SA

475,711

 

18,597

 

Vallourec SA

174,548

 

17,053

^

Sodexho Alliance SA

311,054

 

15,727

 

Cap Gemini SA

456,030

 

15,671

*

Alcatel-Lucent

7,644,447

 

15,007

 

Lagardere S.C.A.

389,508

 

14,817

*

Suez Environnement SA

890,138

 

14,184

 

Thales SA

292,344

 

12,935

 

Pinault-Printemps-Redoute SA

248,546

 

12,529

 

SCOR SA

576,711

 

11,696

 

Renault SA

605,288

 

11,662

 

STMicroelectronics NV

2,236,350

 

11,551

 

Technip SA

333,818

 

10,321

^

Publicis Groupe SA

415,754

 

9,736

 

Casino Guichard-Perrachon SA

143,559

 

9,407

 

Christian Dior SA

179,117

 

8,914

 

PSA Peugeot Citroen

497,154

 

8,410

 

Neopost SA

101,479

 

8,159

 

CNP Assurances

121,307

 

8,074

^

Dassault Systemes SA

212,295

 

8,012

 

Safran SA

616,543

 

7,688

^

Klepierre

275,271

 

6,549

 

Eutelsat Communications

291,018

 

6,210

^

Eiffage SA

123,701

 

6,091

*

Compagnie Generale de Geophysique SA

483,382

 

5,839

^

Atos Origin SA

226,074

 

5,357

 

Natixis

3,317,859

 

5,155

 

Aeroports de Paris (ADP)

96,292

 

5,154

 

ICADE

63,796

 

5,129

 

Legrand SA

305,018

 

5,122

 

Zodiac SA

137,740

 

4,966

 

Societe BIC SA

87,768

 

4,700

 

Bureau Veritas SA

122,661

 

4,617

*

Iliad SA

54,395

 

4,516

^

Air France

437,439

 

4,184

 

Societe des Autoroutes Paris-Rhin-Rhone

73,261

 

4,164

 

Societe Television Francaise 1

381,524

 

4,100

 

Imerys SA

93,937

 

3,730

^

PagesJaunes SA

423,540

 

3,727

 

 

 

^

Gecina SA

52,294

 

3,615

^

Wendel Investissement

92,334

 

3,583

 

MMetropole Television

207,693

 

3,363

^

JCDecaux SA

220,670

 

3,028

 

Eurazeo

81,625

 

2,758

 

Valeo SA

245,111

 

2,727

^

Eramet SLN

17,073

 

2,695

 

2,269,932

Germany (12.3%)

 

E.On AG

6,251,113

 

201,354

^

Siemens AG

2,855,967

 

160,824

 

Bayer AG

2,513,474

 

133,424

 

Allianz AG6

1,487,515

 

124,719

 

Volkswagen AG

383,215

 

122,439

 

RWE AG

1,462,997

 

113,671

 

Deutsche Telekom AG

9,322,191

 

112,495

 

SAP AG

2,869,536

 

100,820

 

BASF AG

3,110,940

 

90,121

 

Muenchener Rueckversicherungs-Gesellschaft AG (Registered)

678,741

 

89,638

 

Daimler AG (Registered)

2,527,401

 

70,812

^

Deutsche Bank AG

1,784,823

 

46,505

 

Deutsche Post AG

2,778,427

 

34,669

 

Deutsche Boerse AG

639,717

 

32,140

 

Linde AG

441,411

 

29,431

 

Fresenius Medical Care AG

627,317

 

28,069

 

Bayerische Motoren Werke AG

1,087,574

 

25,792

^

ThyssenKrupp AG

1,183,873

 

24,025

 

K&S AG

486,543

 

22,990

 

Adidas AG

650,371

 

22,503

 

Merck KGaA

212,069

 

17,954

 

Volkswagen AG Pfd.

346,684

 

17,124

^,*

Porsche AG

288,420

 

16,904

 

Man AG

349,243

 

15,178

 

Henkel AG & Co. KGaA

584,876

 

15,103

 

Fresenius AG Pfd.

265,900

 

14,703

 

Beiersdorf AG

291,270

 

14,257

 

Metro AG

371,365

 

13,463

^

Commerzbank AG

2,256,993

 

10,203

 

Henkel KGaA

428,278

 

9,976

 

Salzgitter AG

127,934

 

9,276

 

DaimlerChrysler AG

327,337

 

9,162

 

Deutsche Lufthansa AG

752,051

 

9,115

 

RWE AG Pfd.

128,923

 

8,492

 

Hannover Rueckversicherung AG

195,697

 

5,982

 

Celesio AG

277,874

 

5,947

^

Solarworld AG

278,231

 

5,862

 

 

 

^

TUI AG

698,434

 

5,859

^,*

Q-Cells AG

204,904

 

5,001

 

Hochtief AG

136,769

 

4,676

 

Fresenius AS

93,102

 

4,572

^

Fraport AG

118,462

 

4,432

 

Puma AG

21,343

 

3,839

 

Wacker Chemie AG

52,180

 

3,719

^

Deutsche Postbank AG

282,774

 

3,395

^

HeidelbergCement AG

82,303

 

3,189

^,*

United Internet AG

418,768

 

3,034

 

Bayerische Motoren Werke (BMW)

175,020

 

2,890

^,*

Infineon Technologies AG

2,463,984

 

2,187

^

Hamburger Hafen und Logistik AG

81,289

 

2,071

^

Hypo Real Estate Holding AG

562,476

 

908

 

1,834,914

Greece (0.8%)

 

National Bank of Greece SA

1,355,656

 

22,587

 

Greek Organization of Football Prognostics

733,210

 

21,331

 

Alpha Credit Bank SA

1,249,789

 

10,445

 

Hellenic Telecommunications Organization SA

630,167

 

9,533

 

Coca-Cola Hellenic Bottling Co. SA

541,795

 

7,405

 

Marfin Financial Group SA

1,977,394

 

7,292

 

Bank of Piraeus

1,021,858

 

6,753

 

EFG Eurobank Ergasias

1,032,216

 

6,455

 

Public Power Corp.

339,494

 

5,683

 

GEA Group AG

480,918

 

5,538

 

National Bank of Greece SA ADR

1,387,110

 

4,494

 

Hellenic Telecommunications Organization SA ADR

520,468

 

3,945

 

Titan Cement Co. SA

192,640

 

3,511

 

Hellenic Petroleum SA

399,935

 

2,876

 

117,848

Ireland (0.5%)

 

CRH PLC

1,752,406

 

41,161

*

Elan Corp. PLC

1,554,126

 

11,191

 

Kerry Group PLC A Shares

463,530

 

8,680

 

Allied Irish Banks PLC

2,898,377

 

4,155

*

Ryanair Holdings PLC ADR

168,590

 

4,050

 

Bank of Ireland

3,210,936

 

2,462

*

Ryanair Holdings PLC

357,520

 

1,298

^

Anglo Irish Bank Corp. PLC

2,503,596

 

696

 

73,693

Italy (5.3%)

 

Eni SpA

8,561,334

 

181,082

 

Enel SpA

14,238,870

 

79,868

 

Intesa Sanpaolo SpA

25,327,593

 

79,821

 

Assicurazioni Generali SpA

3,477,777

 

72,354

 

 

 

 

UniCredit SpA

37,388,829

 

65,787

 

Telecom Italia SpA

33,001,208

 

40,550

 

Unione Di Banche Italiane ScpA

1,996,760

 

24,849

 

Finmeccanica SpA

1,329,537

 

20,797

 

Telecom Italia SpA RNC

19,779,510

 

19,072

 

Mediobanca Banca di Credito Finanziaria SpA

1,622,793

 

14,722

 

Snam Rete Gas SpA

2,582,949

 

13,456

 

Saipem SpA

865,571

 

13,188

 

Mediaset SpA

2,529,970

 

12,317

 

Atlantia SpA

842,786

 

12,314

 

Terna SpA

3,957,424

 

12,023

 

Banco Popolare SpA

2,099,966

 

11,977

 

Banca Monte dei Paschi di Siena SpA

8,090,959

 

11,603

 

Fiat SpA

2,323,610

 

11,313

 

Alleanza Assicurazioni SpA

1,395,085

 

9,463

 

Parmalat SpA

5,469,120

 

8,811

 

A2A SpA

4,161,109

 

7,225

 

Intesa Sanpaolo SpA Non Convertible Risp.

2,948,942

 

6,613

 

Banca Popolare di Milano SpA

1,281,252

 

6,538

 

Luxottica Group SpA

453,103

 

6,403

 

Banca Carige SpA

2,419,476

 

5,592

 

Prysmian SpA

361,001

 

4,558

 

Lottomatica SpA

203,249

 

3,750

 

Saras SpA Raffinerie Sarde

1,070,856

 

3,522

 

Fondiari-Sai SpA

224,003

 

3,494

 

Unipol Gruppo Finanziario SpA

2,197,691

 

3,279

 

Unipol Gruppo Finanziario SpA Pfd.

3,046,409

 

3,184

 

Mediolanum SpA

701,560

 

2,714

 

IFIL Investments SpA

1,032,542

 

2,555

 

Pirelli & C. Accomandita per Azioni SpA

8,380,052

 

2,398

 

Italcementi SpA

227,872

 

2,129

 

Bulgari SpA

502,721

 

2,077

 

Autogrill SpA

340,332

 

1,995

 

Italcementi SpA Risp.

338,104

 

1,979

 

785,372

Luxembourg (0.7%)

 

ArcelorMittal (Amsterdam Shares)

2,860,336

 

64,008

 

SES Global Fiduciary Depositary Receipts

932,135

 

17,074

*

Tenaris S.A.

1,557,191

 

15,361

 

Millicom International Cellular SA

232,175

 

8,940

 

105,383

Netherlands (3.9%)

 

Unilever NV

5,356,800

 

118,081

 

Koninklijke KPN NV

5,928,692

 

78,914

 

Koninklijke (Royal) Philips Electronics NV

3,328,555

 

60,500

 

ING Groep NV

6,494,322

 

53,598

 

 

 

 

Koninklijke Ahold NV

3,921,100

 

47,016

 

Akzo Nobel NV

778,218

 

27,783

 

Aegon NV

4,602,615

 

24,071

 

Heineken NV

807,251

 

23,730

 

ASML Holding NV

1,388,848

 

22,969

 

Reed Elsevier NV

2,069,010

 

22,898

 

TNT NV

1,243,000

 

21,544

^

European Aeronautic Defence and Space Co.

1,071,773

 

18,654

 

Wolters Kluwer NV

897,479

 

16,133

 

Koninklijke DSM NV

446,486

 

10,699

 

Heineken Holding NV

361,451

 

9,659

 

Randstad Holding NV

331,117

 

6,562

 

Corio NV

145,469

 

6,223

 

SBM Offshore NV

473,690

 

5,712

 

Fugro NV

194,401

 

5,253

 

Koninklijke Boskalis Westminster NV

183,939

 

3,710

 

SNS REAAL

411,857

 

1,797

 

ASML Holding NV (New York Shares)

34,293

 

567

 

Aegon NV (New York) ARS

3,320

 

17

 

586,090

Norway (1.1%)

 

StatoilHydro ASA

4,220,777

 

72,722

 

Orkla ASA

2,712,964

 

18,034

 

Telenor ASA

2,757,239

 

17,992

 

Yara International ASA

625,743

 

14,070

 

DnB NOR ASA

2,418,056

 

8,200

 

Norsk Hydro ASA

2,260,594

 

8,057

 

Seadrill Ltd.

927,593

 

7,687

^

Frontline Ltd.

171,500

 

4,929

^,*

Renewable Energy Corp. AS

486,400

 

4,877

 

Aker Solutions ASA

528,256

 

2,480

 

159,048

Portugal (0.5%)

 

Electricidade de Portugal SA

5,999,684

 

21,229

 

Portugal Telecom SGPS SA

2,019,065

 

16,303

^,*

Banco Comercial Portugues SA

7,787,679

 

7,933

^

Galp Energia, SGPS, SA B shares

628,578

 

6,663

^

Brisa-Auto Estradas de Portugal SA

975,801

 

6,431

 

Banco Espirito Santo SA

731,815

 

4,844

^

Cimpor-Cimento de Portugal SA

892,944

 

4,139

 

Jeronimo Martins, SGPS, SA

739,132

 

3,753

 

Zon Multimedia Servicos de Telecomunicacoes e Multimedia SGPS SA

578,943

 

3,111

 

74,406

Spain (6.6%)

 

Telefonica SA

13,662,861

 

242,225

 

 

 

 

Banco Santander SA

25,899,799

 

209,583

 

Banco Bilbao Vizcaya Argentaria SA

11,708,635

 

109,181

 

Iberdrola SA

11,495,049

 

89,007

 

Repsol YPF SA

2,410,213

 

43,046

^

Industria de Diseno Textil SA

716,891

 

27,284

 

Union Fenosa, SA

1,201,856

 

27,047

^

ACS, Actividades de Contruccion y Servisios, SA

606,845

 

24,349

^

Banco Popular Espanol SA

2,600,234

 

17,818

^

Banco de Sabadell SA

3,025,211

 

15,149

 

Red Electrica de Espana SA

355,814

 

14,615

 

Abertis Infraestructuras SA

886,493

 

14,334

*

Iberdrola Renovables

2,770,922

 

11,197

 

Acciona SA

93,478

 

10,529

 

Enagas SA

587,495

 

10,185

 

Gamesa Corporacion Tecnologica SA

601,339

 

10,071

 

Criteria Caixacorp SA

2,763,319

 

9,584

 

Gas Natural SDG SA

369,827

 

8,881

^

Bankinter SA

877,437

 

7,578

^

Zardoya Otis SA

413,253

 

7,380

 

Grifols SA

420,636

 

7,371

^

Banco de Valencia SA

682,038

 

6,782

^

Indra Sistemas, SA

323,283

 

6,496

 

Mapfre SA

2,238,060

 

6,307

^

Acerinox SA

463,446

 

6,038

 

Grupo Ferrovial SA

208,849

 

5,539

^,*

EDP Renovaveis SA

707,903

 

5,238

 

Telefonica SA ADR

87,308

 

4,681

 

Banco Santander SA (UK Shares)

504,065

 

4,009

^

Fomento de Construc y Contra SA

147,851

 

3,854

^

Cintra Concesiones de Infraestructuras de Transport SA

746,866

 

3,697

 

Banco Santander SA ADR

455,472

 

3,572

 

Iberia (Linea Aerea Espana)

1,544,610

 

3,559

^

Gestevision Telecinco SA

358,150

 

3,072

^

Sacyr Vallehermoso SA

242,770

 

2,070

 

981,328

Sweden (2.9%)

 

Telefonaktiebolaget LM Ericsson AB Class B

9,748,978

 

76,712

 

Hennes & Mauritz AB B Shares

1,681,975

 

64,903

 

Nordea Bank AB

6,826,045

 

36,092

 

TeliaSonera AB

7,378,460

 

32,356

 

Investor AB B Shares

1,497,850

 

17,357

 

Sandvik AB

3,315,429

 

16,917

 

Svenska Handelsbanken AB A Shares

1,508,920

 

16,450

 

Atlas Copco AB A Shares

2,212,231

 

14,832

 

Svenska Cellulosa AB B Shares

1,853,235

 

14,459

^

Volvo AB B Shares

3,589,780

 

14,311

 

 

 

 

Swedish Match AB

833,325

 

11,242

 

SKF AB B Shares

1,279,352

 

10,688

 

Skanska AB B Shares

1,227,255

 

10,451

 

Assa Abloy AB

1,032,310

 

10,324

 

Scania AB B Shares

1,189,206

 

9,549

^

Getinge AB B Shares

655,999

 

8,716

 

Alfa Laval AB

1,188,199

 

8,283

 

Securitas AB B Shares

1,028,220

 

8,242

 

Tele2 AB B Shares

1,009,362

 

8,135

 

Atlas Copco AB B Shares

1,273,356

 

7,558

^

Skandinaviska Enskilda Banken AB A Shares

1,534,242

 

6,527

^

Electrolux AB Series B

840,965

 

6,055

 

Volvo AB A Shares

1,441,100

 

5,868

 

SSAB Svenskt Stal AB Series A

600,892

 

4,219

^

Swedbank AB A Shares

1,175,939

 

4,122

^

Husqvarna AB B Shares

907,489

 

3,781

 

Holmen AB

173,738

 

3,552

^,*

Lundin Petroleum AB

708,154

 

3,485

 

Modern Times Group AB B Shares

163,953

 

2,791

 

SSAB Svenskt Stal AB Series B

277,137

 

1,821

 

439,798

Switzerland (12.6%)

 

Nestle SA (Registered)

12,594,631

 

435,262

 

Roche Holdings AG

2,310,318

 

324,333

 

Novartis AG (Registered)

7,823,998

 

321,492

*

UBS AG

9,543,233

 

119,675

 

ABB Ltd.

7,235,219

 

93,954

 

Credit Suisse Group (Registered)

3,513,043

 

89,658

 

Zurich Financial Services AG

467,331

 

84,265

 

Syngenta AG

318,916

 

61,675

 

Swiss Re (Registered)

1,102,095

 

29,240

 

Holcim Ltd. (Registered)

651,716

 

26,276

*

Compagnie Financiere Richemont SA

1,714,975

 

25,136

 

Swisscom AG

79,274

 

24,916

 

Synthes, Inc.

194,591

 

23,438

 

Julius Baer Holding, Ltd.

691,513

 

20,507

*

Actelion Ltd.

324,907

 

17,632

 

SGS Societe Generale de Surveillance Holding SA (Registered)

15,489

 

16,384

 

Givaudan SA

21,559

 

14,603

 

Lonza AG (Registered)

156,819

 

14,310

 

Adecco SA (Registered)

404,828

 

13,591

 

Geberit AG

130,538

 

12,634

 

Swatch Group AG (Bearer)

101,700

 

11,326

 

Baloise Holdings AG

163,467

 

10,141

 

Kuehne & Nagel International AG

178,051

 

9,793

 

Schindler Holding AG (Bearer Participation Certificates)

168,086

 

7,563

 

 

 

 

Sonova Holding AG

153,692

 

7,405

^

Lindt & Spruengli AG Regular

364

 

7,004

 

Swiss Life Holding

113,897

 

6,178

 

Nobel Biocare Holding AG

391,796

 

6,008

 

Pargesa Holding SA

88,687

 

5,697

*

Logitech International SA

571,324

 

5,537

 

Sulzer AG (Registered)

90,761

 

4,512

 

Lindt & Spruengli AG

2,704

 

4,408

 

BKW FMB Energie AG

51,108

 

4,383

^

Straumann Holding AG

25,939

 

3,971

 

Swatch Group AG (Registered)

160,010

 

3,551

*

Aryzta AG (Switzerland Shares)

130,494

 

3,257

*

Aryzta AG (Ireland Shares)

130,683

 

3,247

 

EFG International

170,437

 

2,067

*

UBS AG (New York Shares)

100,268

 

1,248

^,*

OC Oerlikon Corp AG

23,966

 

820

 

1,877,097

United Kingdom (31.7%)

 

BP PLC

58,221,012

 

412,324

 

HSBC Holdings PLC

39,631,907

 

307,494

 

GlaxoSmithKline PLC

17,204,438

 

303,433

 

Vodafone Group PLC

163,235,382

 

303,180

 

Royal Dutch Shell PLC Class B

8,931,630

 

212,032

 

Royal Dutch Shell PLC Class A (Amsterdam Shares)

8,492,604

 

209,264

 

AstraZeneca Group PLC

4,773,738

 

183,952

 

British American Tobacco PLC

6,239,821

 

171,094

 

BG Group PLC

11,005,304

 

150,889

 

Tesco PLC

25,840,189

 

133,543

 

BHP Billiton PLC

7,257,558

 

121,312

 

Diageo PLC

8,277,956

 

111,069

 

Unilever PLC

4,220,548

 

92,584

 

Imperial Tobacco Group PLC

3,341,773

 

91,379

 

Royal Dutch Shell PLC Class A

3,171,524

 

79,048

 

Standard Chartered PLC

6,221,063

 

78,607

 

Anglo American PLC

4,340,230

 

78,074

 

Reckitt Benckiser Group PLC

1,983,767

 

76,400

 

National Grid Transco PLC

8,052,117

 

75,147

 

Rio Tinto PLC

3,282,443

 

70,539

 

BAE Systems PLC

11,598,202

 

67,317

 

Centrica PLC

16,788,131

 

62,462

 

Scottish & Southern Energy PLC

2,875,140

 

49,437

 

SABMiller PLC

2,973,335

 

48,569

 

Lloyds Banking Group PLC

32,233,744

 

41,991

 

Barclays PLC

26,887,295

 

39,556

 

Aviva PLC

8,729,974

 

39,439

 

Prudential PLC

8,195,259

 

39,393

 

 

 

 

BT Group PLC

25,476,921

 

38,586

 

Cadbury PLC

4,457,215

 

35,778

 

Morrison Supermarkets PLC

7,884,670

 

30,798

 

Compass Group PLC

6,058,792

 

29,983

 

Rolls-Royce Group PLC

6,017,834

 

28,727

 

Reed Elsevier PLC

3,622,921

 

27,206

 

Shire Ltd.

1,842,925

 

26,883

 

British Sky Broadcasting Group PLC

3,736,277

 

26,722

 

Tullow Oil PLC

2,602,876

 

25,960

 

Pearson PLC

2,666,483

 

25,458

 

BP PLC ADR

575,360

 

24,436

 

Standard Life PLC

7,152,556

 

22,761

 

Smith & Nephew PLC

2,916,036

 

21,138

 

Experian Group Ltd.

3,357,309

 

20,895

 

Royal & Sun Alliance Insurance Group PLC

10,874,278

 

20,635

 

Capita Group PLC

2,023,226

 

20,343

 

International Power PLC

4,967,257

 

19,482

 

Vodafone Group PLC ADR

1,030,225

 

19,152

 

Cable and Wireless PLC

8,238,553

 

18,661

 

Royal Bank of Scotland Group PLC

58,552,001

 

18,434

*

WPP PLC

3,263,612

 

18,359

 

United Utilities Group PLC

2,239,040

 

17,486

 

Legal & General Group PLC

19,514,646

 

17,362

 

Marks & Spencer Group PLC

5,175,161

 

17,210

 

Xstrata PLC

2,097,418

 

17,136

 

Man Group PLC

5,610,787

 

16,658

 

J. Sainsbury PLC

3,442,569

 

16,523

 

Smiths Group PLC

1,272,788

 

15,725

 

Kingfisher PLC

7,788,551

 

15,588

 

Land Securities Group PLC

1,536,968

 

15,315

 

Old Mutual PLC

16,385,388

 

12,344

 

Severn Trent PLC

776,864

 

12,248

^

Thomson Reuters PLC

591,196

 

11,886

 

Cobham PLC

3,748,665

 

11,564

 

Group 4 Securicor PLC

4,175,908

 

11,530

*

Cairn Energy PLC

432,940

 

11,348

 

Associated British Foods PLC

1,168,385

 

11,181

 

The Sage Group PLC

4,284,311

 

11,175

 

Next PLC

650,199

 

11,041

^

British Land Co., PLC

1,672,127

 

10,913

 

Serco Group PLC

1,604,070

 

10,158

 

Johnson Matthey PLC

723,420

 

10,147

 

Carnival PLC

532,677

 

9,704

 

Rexam PLC

2,110,427

 

9,477

 

Friends Provident PLC

7,647,660

 

9,124

 

Drax Group PLC

1,107,756

 

8,903

 

 

 

 

Amec PLC

1,094,687

 

8,901

 

Bunzl PLC

1,066,904

 

8,726

 

Home Retail Group

2,886,339

 

8,559

 

Balfour Beatty PLC

1,582,462

 

8,447

 

Admiral Group PLC

607,805

 

7,881

 

Antofagasta PLC

1,309,543

 

7,874

 

Tate & Lyle PLC

1,505,188

 

7,219

 

Whitbread PLC

579,022

 

6,839

 

InterContinental Hotels Group PLC

855,272

 

6,434

 

FirstGroup PLC

1,602,126

 

6,296

 

TUI Travel PLC

1,834,167

 

5,932

 

ICAP PLC

1,730,446

 

5,877

*

Invensys PLC

2,598,821

 

5,791

^

Hammerson PLC

961,442

 

5,630

 

Wolseley PLC

2,175,661

 

5,393

 

United Business Media Ltd.

757,914

 

5,283

 

Burberry Group PLC

1,438,066

 

5,242

 

Ladbrokes PLC

1,943,609

 

5,072

 

Hays PLC

4,589,545

 

4,987

 

Eurasian Natural Resources Corp.

1,072,253

 

4,903

 

Tomkins PLC

2,867,527

 

4,885

 

Lonmin PLC

388,739

 

4,827

 

Investec PLC

1,322,264

 

4,764

^

Liberty International PLC

842,949

 

4,529

 

Schroders PLC

410,830

 

4,520

 

LogicaCMG PLC

4,760,838

 

4,508

 

Meggitt PLC

2,150,916

 

4,290

 

ITV PLC

10,795,569

 

4,278

 

Thomas Cook Group PLC

1,508,772

 

4,158

 

3i Group PLC

1,242,619

 

4,070

 

IMI PLC

1,043,783

 

4,037

^

Vedanta Resources PLC

471,857

 

3,729

 

Daily Mail and General Trust PLC

949,934

 

3,606

^

London Stock Exchange PLC

486,520

 

3,361

^

Segro PLC

1,404,688

 

3,243

 

British Airways PLC

1,863,469

 

3,215

 

Stagecoach Group PLC

1,820,923

 

3,188

*

The Berkeley Group Holdings PLC

271,868

 

3,101

 

GKN PLC

2,303,567

 

2,809

 

Kazakhmys PLC

705,549

 

2,250

*

WPP PLC ADR

78,406

 

2,193

 

National Express Group PLC

424,722

 

1,998

^

Carphone Warehouse PLC

1,358,654

 

1,981

 

4,706,497

Total Common Stocks (Cost $24,222,884)

14,776,460

 

 

 

 

Coupon

 

Shares

Market
Value
($000)

Temporary Cash Investments (4.9%)

Money Market Fund (4.7%)

1,2

Vanguard Market Liquidity Fund

0.780%

 

692,405,429

692,405

 

 

Coupon

Maturity
Date

Face
Amount ($000)

Market
Value
($000)

U.S. Agency Obligations (0.2%)

3,4

Federal Home Loan Bank

2.674%

2/27/09

9,000

8,999

3

Federal Home Loan Mortgage Corp.

2.383%

2/9/09

10,000

9,999

3,4

Federal National Mortgage Assn.

1.357%

3/31/09

10,000

9,994

 

28,992

Total Temporary Cash Investments
(Cost $721,361)

 

721,397

Total Investments (104.3%) (Cost $24,944,245)

15,497,857

Other Assets and Liabilities-Net (-4.3%)2

(633,845)

Net Assets (100%)

14,864,012

 

 

 

^

Part of security position is on loan to broker-dealers. The total value of securities on loan is $575,701,000.

*

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

Includes $620,686,000 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 $12,993,000 have been segregated as initial margin for open futures contracts.

 

ADR—American Depositary Receipt.

 

ARS—Auction Rate Security.

 

 

 

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 affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued at their fair values calculated according to procedures adopted by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund's pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities. 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.

Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

At January 31, 2009, the cost of investment securities for tax purposes was $24,948,741,000. Net unrealized depreciation of investment securities for tax purposes was $9,450,884,000, consisting of unrealized gains of $281,440,000 on securities that had risen in value since their purchase and $9,732,324,000 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 4.4%, respectively, of net assets. Futures contracts are valued at their quoted daily settlement prices.

 

 

($000)

Futures Contracts

Number of
Long (Short
Contracts)

Aggregate
Settlement
Value

 

Unrealized
Appreciation
(Depreciation)

MSCI Pan-Euro Index

4,433

73,056

(3,836)

 

 

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

European Stock Index Fund

 

Forward Currency Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The fund’s risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts.               

 

 

 

 

 

Unrealized

 

Contract Amount (000)

Appreciation

 

 

 

 

 

(Depreciation)

Contract Settlement Date

Receive

Deliver

($000)

 

 

 

 

 

 

3/25/09

EUR

60,002

USD

76,840

(8,453)

 

 

 

 

 

 

EUR-Euro.

 

 

 

 

 

USD-U.S. dollars.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Forward currency contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized forward currency contract gains (losses).

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).

 

 

Valuation Inputs

Investments in Securities ($000)

Futures

Contracts

($000)

Forward

Currency

Contracts

($000)

Level 1- Quoted prices

769,922

(3,836)

(8,453)

Level 2- Other significant observable inputs

14,727,935

-

-

Level 3- Significant unobservable inputs

-

-

-

Total

15,497,857

(3,836)

(8,453)

 

 

The following table summarizes the fund's investments as of January 31, 2009, based on the inputs used to value them:

 

 

 


Vanguard Emerging Markets Stock Index Fund

Schedule of Investments

As of January 31, 2009

 

 

 

Shares

Market
Value
($000)

Common Stocks (99.5%)

Argentina (0.2%)

 

Petrobras Energia Participaciones SA ADR

756,530

 

5,144

*

Telecom Argentina SA ADR

430,031

 

3,569

^

Banco Macro Bansud SA ADR

298,778

 

3,128

 

Siderar SA Class A

780,264

 

2,686

*

Telecom Argentina SA

1,330,950

 

2,238

 

Petrobras Energia Participaciones SA

2,793,723

 

1,900

 

18,665

Brazil (14.8%)

 

Petroleo Brasileiro SA Pfd.

17,733,512

 

191,323

 

Petroleo Brasileiro SA

12,797,296

 

167,523

 

Companhia Vale do Rio Doce Pfd. Class A

10,300,677

 

124,363

 

Companhia Vale do Rio Doce

7,082,038

 

99,210

 

Banco Bradesco SA

8,050,600

 

72,178

 

Companhia Vale do Rio Doce Sponsored ADR

5,090,943

 

61,804

 

Petroleo Brasileiro SA Series A ADR

2,779,821

 

60,211

 

Banco Itau Holding Financeira SA

5,723,400

 

57,974

 

Petroleo Brasileiro SA ADR

2,053,600

 

53,804

 

Companhia Vale do Rio Doce ADR

3,589,388

 

50,646

 

Itausa-Investimentos Itau SA

14,745,785

 

46,526

 

Companhia de Bebidas das Americas Pfd.

967,909

 

39,634

 

Banco Itau Holding Financeira SA ADR

3,166,837

 

31,795

 

Unibanco-Uniao de Bancos Brasileiros SA

5,026,883

 

28,406

 

BM&F BOVESPA SA

9,146,638

 

26,375

 

Banco Bradesco SA ADR

2,727,742

 

24,413

 

Usiminas-Usinas Siderugicas de Minas Gerais SA Pfd.

1,885,855

 

23,459

 

Companhia Siderurgica Nacional SA

1,526,860

 

23,153

 

Gerdau SA Pfd.

3,504,900

 

22,706

*

OGX Petroleo e Gas Participacoes SA

94,148

 

22,320

 

Redecard SA

1,922,151

 

21,748

 

Companhia Energetica de Minas Gerais Pfd.

1,587,006

 

21,514

 

Tele Norte Leste Participacoes SA Pfd.

1,540,163

 

19,053

 

Centrais Electricas Brasileiras SA

1,685,391

 

19,004

 

Metalurgica Gerdau SA

2,058,762

 

17,704

 

Bradespar SA Pfd.

1,695,911

 

17,113

 

Uniao de Bancos Brasileiros SA ADR

303,330

 

17,071

 

Centrais Electricas Brasileiras SA Pfd. B Shares

1,523,019

 

16,018

 

Companhia Siderurgica Nacional SA ADR

1,048,648

 

15,835

 

Banco do Brasil SA

2,353,165

 

14,403

 

Vivo Participacoes SA Pfd.

965,116

 

13,728

 

Ultrapar Participacoes S.A.

582,982

 

13,406

 

 

 

 

Brasil Telecom Participacoes SA

504,328

 

12,989

 

Perdigao SA

855,262

 

11,797

 

CPFL Energia SA

899,989

 

11,657

 

Souza Cruz SA

574,515

 

11,589

 

All America Latina Logistica

2,923,013

 

11,087

 

Gerdau SA ADR

1,495,316

 

9,540

 

Companhia de Concessoes Rodoviarias

913,040

 

8,993

 

Empresa Brasileira de Aeronautica SA

2,387,949

 

8,945

*

Net Servicos de Comunicacao SA

1,286,041

 

8,154

 

Companhia Energetica de Minas Gerais ADR

591,571

 

8,039

 

Electropaulo Metropolitana SA

709,113

 

7,947

 

Natura Cosmeticos SA

911,189

 

7,816

 

Embraer-Empresa Brasileira de Aeronautica SA ADR

515,055

 

7,762

 

Tractebel Energia SA

990,609

 

7,660

 

Tele Norte Leste Participacoes SA

492,381

 

7,575

 

Brasil Telecom Participacoes SA Pfd.

1,086,126

 

7,163

^

Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR

271,768

 

6,971

 

Gerdau SA

1,324,050

 

6,791

 

Telmar Norte Leste SA

346,200

 

6,767

 

Lojas Americanas SA Pfd.

2,424,498

 

6,678

 

Companhia de Bebidas das Americas ADR

163,343

 

6,663

 

CESP - Companhia Energetica de Sao Paulo

1,195,359

 

6,441

*

GVT Holding SA

587,453

 

6,287

 

Companhia de Saneamento Basico do Estado de Sao Paulo

568,382

 

6,149

 

Cyrela Brazil Realty SA

1,501,689

 

6,020

 

JBS SA

2,749,327

 

5,688

 

Usinas Siderurgicas de Minas Gerais SA

480,433

 

5,591

 

Fertilizantes Fosfatados S.A.

967,784

 

5,506

 

AES Tiete SA

778,800

 

5,395

 

Lojas Renner SA

865,531

 

5,279

 

Tele Norte Leste Participacoes ADR

420,064

 

5,167

*

Suzano Papel e Celulose SA

1,017,255

 

5,130

 

Tim Participacoes SA Pfd.

3,562,432

 

5,129

 

Klabin SA

3,222,753

 

4,862

 

Companhia de Transmissao de Energia Electrica Paulista

265,000

 

4,853

 

Energias do Brasil SA

504,295

 

4,826

 

Brasil Telecom SA Pfd.

915,932

 

4,690

 

B2W Com Global Do Varejo

434,980

 

4,659

 

Gafisa SA

918,709

 

4,633

 

Porto Seguro SA

704,488

 

4,160

 

Companhia Paranaense de Energia-COPEL

442,739

 

4,158

 

Votorantim Celulose e Papel SA Pfd.

704,869

 

4,135

 

Tam SA

550,389

 

4,099

 

Companhia de Saneamento Basico do Estado de Sao Paulo ADR

174,731

 

3,788

 

Duratex SA Pfd.

516,492

 

3,480

 

Companhia Paranaense de Energia-COPEL ADR

369,015

 

3,410

 

 

 

 

Braskem SA

1,270,724

 

3,128

 

Banco do Estado do Rio Grande do Sul SA

1,295,430

 

3,026

*

Cosan SA Industria e Comercio

633,650

 

2,868

 

MRV Engenharia e Participacoes SA

530,118

 

2,468

 

Companhia Brasileira de Distribuicao Grupo Pao de Acucar Pfd.

183,869

 

2,367

 

Sadia SA Pfd.

1,600,277

 

2,290

 

Sadia SA ADR

518,287

 

2,182

^

Aracruz Celulose SA ADR

243,773

 

2,045

 

Tim Participacoes SA ADR

134,576

 

1,894

 

Aracruz Celulose SA Pfd. B Shares

1,658,905

 

1,423

 

Brasil Telecom Participacoes SA ADR

33,456

 

1,082

 

Vivo Participacoes SA ADR

2,193

 

31

 

Votorantim Celulose e Papel SA ADR

1,799

 

10

 

Braskem SA ADR

2,012

 

10

 

1,765,362

Chile (1.6%)

 

Empresas Copec SA

2,861,193

 

23,140

 

Empresa Nacional de Electricidad SA

16,338,550

 

20,390

 

Enersis SA

65,024,375

 

18,959

 

Empresas CMPC SA

750,691

 

14,843

 

Sociedad Quimica y Minera de Chile SA

444,322

 

12,134

 

Empresa Nacional de Electricidad SA ADR

303,243

 

11,335

 

Enersis SA ADR

720,316

 

10,337

 

Banco Santander Chile SA ADR

276,952

 

9,799

 

Cencosud SA

5,359,821

 

9,686

 

Empresa Nacional de Telecomunicaciones SA

804,422

 

8,867

 

Lan Airlines SA

992,419

 

8,300

 

Sociedad Quimica y Minera de Chile SA ADR

292,344

 

7,922

*

Colburn SA

42,894,294

 

7,563

 

CAP SA

567,952

 

7,410

 

S.A.C.I. Falabella SA

2,156,290

 

6,221

 

Banco Santander Chile SA

177,458,517

 

6,072

 

Compania Cervecerias Unidas SA

965,173

 

5,882

 

Banco de Credito e Inversiones

226,460

 

4,478

 

Vina Concha y Toro SA

1,909,446

 

3,218

 

196,556

China (17.7%)

 

China Mobile (Hong Kong) Ltd.

44,321,967

 

398,976

^

China Life Insurance Co., Ltd.

52,162,290

 

137,290

^

Industrial and Commercial Bank of China Ltd. Class H

306,189,659

 

129,456

^

China Construction Bank

248,544,493

 

121,221

 

PetroChina Co. Ltd.

155,673,909

 

114,914

 

CNOOC Ltd.

115,375,752

 

99,297

 

China Petroleum & Chemical Corp.

123,943,060

 

66,816

^

Bank of China

199,720,525

 

52,343

 

China Shenhua Energy Co. Ltd. H Shares

23,893,500

 

50,942

^

Ping An Insurance (Group) Co. of China Ltd.

9,470,988

 

41,023

 

 

 

 

China Unicom Ltd.

43,947,048

 

40,566

^

Tencent Holdings Ltd.

6,616,459

 

40,428

^

China Overseas Land & Investment Ltd.

30,191,128

 

39,484

 

China Telecom Corp. Ltd.

102,741,683

 

37,277

^

China Merchants Bank Co., Ltd. Class H

19,678,500

 

31,777

 

China Communications Construction Co., Ltd.

31,156,624

 

30,158

^

Bank of Communications Ltd. Class H

42,692,194

 

27,814

 

China Resources Power Holdings Co., Ltd.

10,904,680

 

20,004

*,^

China Railway Construction Corp.

13,002,028

 

17,773

 

China Coal Energy Co.

24,368,000

 

17,491

^

China Citic Bank

45,706,162

 

16,957

^

Huaneng Power International, Inc. H Shares

22,759,114

 

16,314

*,^

China Railway Group, Ltd.

27,912,616

 

15,676

 

Fujian Zijin Mining Industry Co., Ltd.

29,762,120

 

15,648

^

Hengan International Group Co. Ltd.

4,703,000

 

15,647

*,^

Anhui Conch Cement Co. Ltd.

3,223,816

 

15,451

^

Tingyi Holding Corp.

12,369,347

 

14,286

 

China Merchants Holdings International Co. Ltd.

8,061,514

 

14,190

^

Aluminum Corp. of China Ltd.

29,175,960

 

13,112

 

China Resources Enterprise Ltd.

8,894,038

 

12,795

 

Beijing Datang Power Generation Co., Ltd.

24,484,452

 

12,157

^

Sino-Ocean Land Holdings Ltd.

23,067,765

 

11,458

 

Beijing Enterprises Holdings Ltd.

2,915,500

 

11,446

^

China COSCO Holdings Co., Ltd.

19,103,000

 

11,420

*,^

China Huiyuan Juice Ltd.

8,640,250

 

11,246

 

Denway Motors Ltd.

36,378,228

 

10,843

 

China Mengniu Dairy Co., Ltd.

8,115,796

 

10,723

 

Shanghai Industrial Holding Ltd.

3,978,845

 

10,139

^

China Resources Land Ltd.

8,758,000

 

10,116

 

CITIC Pacific Ltd.

8,153,446

 

9,585

 

Chaoda Modern Agriculture Holdings Ltd.

14,989,775

 

9,465

 

Yanzhou Coal Mining Co. Ltd. H Shares

13,866,354

 

9,008

 

China Shipping Development Co.

9,171,285

 

8,891

^

Sinofert Holdings, Ltd.

15,406,000

 

8,717

 

China Oilfield Services Ltd.

10,912,000

 

8,568

*,^

PICC Property and Casualty Co., Ltd.

18,037,551

 

8,131

 

China Yurun Food Group Ltd.

6,806,000

 

7,961

^

BYD Co. Ltd.

4,249,255

 

7,920

 

China Communication Services Corp. Ltd.

13,192,000

 

7,904

^

Angang Steel Co., Ltd.

8,099,222

 

7,847

 

Cosco Pacific Ltd.

8,363,140

 

7,481

^

Belle International Holdings Ltd.

18,664,073

 

7,441

^

Parkson Retail Group Ltd.

8,146,975

 

7,255

 

Inner Mongolia Yitai Coal Co., Ltd.

2,344,300

 

7,188

^

China National Building Material Co., Ltd.

6,604,359

 

7,153

 

Dongfeng Motor Corp.

20,260,044

 

7,043

 

 

 

 

Guangdong Investment Ltd.

18,434,888

 

7,018

^

Li Ning Co., Ltd.

5,019,068

 

6,971

^

China High Speed Transmission Equipment Group Co., Ltd.

5,943,872

 

6,964

*,^

Shanghai Electric Group Co., Ltd. Class H

22,056,172

 

6,961

 

GOME Electrical Appliances Holdings Ltd.

46,664,920

 

6,740

 

China Vanke Co., Ltd.

8,694,480

 

6,735

 

China Insurance International Holdings Co., Ltd.

5,271,007

 

6,700

^

Jiangxi Copper Co. Ltd.

9,820,239

 

6,694

 

Jiangsu Expressway Co. Ltd. H Shares

9,122,139

 

6,479

^

Lenovo Group Ltd.

34,169,309

 

6,350

^

Shimao Property Holdings Ltd.

9,771,862

 

6,279

 

Beijing Capital International Airport Co., Ltd.

13,951,654

 

6,153

^

Guangzhou R&F Properties Co. Ltd.

7,509,600

 

6,114

 

Zhejiang Expressway Co., Ltd.

10,692,016

 

6,082

 

China Everbright Ltd.

5,317,790

 

5,803

*,^

Alibaba.com, Ltd.

7,431,187

 

5,621

*

Want Want China Holdings Ltd.

14,035,500

 

5,554

 

China Bluechemical, Ltd.

9,812,000

 

5,154

 

CNPC Hong Kong Ltd.

17,944,330

 

5,063

 

Huabao International Holdings Ltd.

7,885,000

 

5,048

^

Country Garden Holdings Co.

23,918,307

 

4,922

^

Air China Ltd.

18,062,058

 

4,774

 

Agile Property Holdings, Inc.

12,329,177

 

4,729

 

Yantai Changyu Pioneer Wine Co., Ltd.

1,249,940

 

4,717

*

China Agri-Industries Holdings Ltd.

10,226,534

 

4,544

^

ZTE Corp.

1,558,223

 

4,435

^

Tsingtao Brewery Co., Ltd.

2,314,000

 

4,388

*,^

China Dongxiang Group Co.

14,624,000

 

4,218

^

Maanshan Iron and Steel Co. Ltd.

12,937,134

 

4,210

*

Soho China

11,593,568

 

4,146

 

Sinopec Shanghai Petrochemical Co. Ltd.

17,371,596

 

4,040

^

China Shipping Container Lines Co. Ltd.

24,776,618

 

3,937

 

Fosun International

11,769,630

 

3,836

 

Shanghai Zhenhua Port Machinery Co., Ltd. Class B

4,957,899

 

3,639

 

Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B

3,587,500

 

3,617

 

Shui On Land Ltd.

13,782,464

 

3,494

 

Harbin Power Equipment Co., Ltd.

4,965,867

 

3,472

 

The Guangshen Railway Co., Ltd.

10,198,357

 

3,257

^

China Travel International

21,270,771

 

3,233

 

China International Marine Containers (Group) Co., Ltd.

5,630,259

 

2,984

 

Weichai Power Co., Ltd. Class H

1,517,800

 

2,903

 

Dongfang Electrical Corp Ltd.

1,263,000

 

2,803

 

2,113,013

Colombia (0.3%)

 

Bancolombia SA ADR

1,453,001

 

30,411

 

 

 

Czech Republic (0.8%)

 

Ceske Energeticke Zavody a.s.

1,588,331

 

54,039

 

Cesky Telecom a.s.

879,442

 

16,340

 

Komercni Banka a.s.

117,721

 

12,945

 

Zentiva NV

214,040

 

10,918

 

Unipetrol a.s.

517,362

 

3,005

*

Central European Media Enterprises Ltd.

228,961

 

2,414

 

99,661

Egypt (0.3%)

 

Orascom Construction Industries GDR

494,935

 

20,141

 

Orascom Telecom Holding SAE GDR

947,071

 

19,234

 

39,375

Hungary (0.5%)

*,^

OTP Bank Nyrt.

2,177,341

 

21,574

^

MOL Hungarian Oil and Gas Nyrt.

464,188

 

17,995

^

Richter Gedeon Nyrt.

112,223

 

12,762

 

Magyar Tavkozlesi Nyrt.

3,677,754

 

9,024

 

61,355

India (6.8%)

 

Reliance Industries Ltd.

4,835,653

 

128,986

 

Infosys Technologies Ltd.

3,378,255

 

88,734

 

Housing Development Finance Corp. Ltd.

1,551,889

 

47,908

 

Hindustan Lever Ltd.

6,424,451

 

34,016

 

ITC Ltd.

8,141,119

 

29,731

 

ICICI Bank Ltd.

3,546,199

 

29,455

 

Oil and Natural Gas Corp. Ltd.

2,071,529

 

27,517

 

HDFC Bank Ltd.

1,410,320

 

26,206

 

NTPC Ltd.

6,151,814

 

23,630

 

Bharat Heavy Electricals Ltd.

865,028

 

23,051

 

Larsen & Toubro Ltd.

1,463,782

 

20,390

 

ICICI Bank Ltd. ADR

1,101,450

 

18,152

 

Reliance Communication Ventures

4,571,621

 

15,665

 

Tata Consultancy Services Ltd.

1,438,220

 

14,865

 

Axis Bank Ltd.

1,448,222

 

12,618

 

HDFC Bank Ltd. ADR

210,311

 

12,127

 

Gail India Ltd.

2,801,541

 

11,078

 

Hero Honda Motors Ltd.

589,666

 

10,516

 

Sterlite Industries (India) Ltd.

1,827,153

 

10,095

 

Sun Pharmaceutical Industries Ltd.

454,676

 

9,883

 

Jindal Steel & Power Ltd.

464,203

 

9,657

 

Cipla Ltd.

2,355,198

 

9,175

 

Reliance Energy Ltd.

783,542

 

9,165

 

Tata Power Co. Ltd.

568,882

 

8,749

 

State Bank of India

362,976

 

8,427

 

Wipro Ltd.

1,662,535

 

7,770

*

Cairn India Ltd.

2,169,878

 

7,206

*

Reliance Petroleum Ltd.

3,954,533

 

6,909

 

 

 

 

Reliance Capital Ltd.

812,205

 

6,865

 

Ambuja Cements Ltd.

4,468,868

 

6,393

 

Grasim Industries Ltd.

265,469

 

6,386

 

Mahindra & Mahindra Ltd.

996,829

 

6,067

 

Maruti Udyog Ltd.

516,828

 

5,921

 

Jaiprakash Associates Ltd.

3,863,759

 

5,896

 

Steel Authority of India Ltd.

3,313,920

 

5,538

 

Infrastructure Development Finance Co., Ltd.

4,740,363

 

5,509

 

DLF Ltd.

1,505,034

 

5,373

 

Hindalco Industries Ltd.

5,397,768

 

5,338

 

Kotak Mahindra Bank

884,199

 

5,054

 

Bharat Petroleum Corp. Ltd.

636,087

 

5,053

 

Tata Motors Ltd.

1,644,639

 

4,947

 

Tata Iron and Steel Co. Ltd.

1,304,949

 

4,859

*

GMR Infrastructure Ltd.

3,266,610

 

4,845

*

Reliance Natural Resources, Ltd.

4,380,356

 

4,551

 

Sesa Goa Ltd.

2,602,764

 

4,456

 

United Spirits Ltd.

369,172

 

4,430

 

Dr. Reddy's Laboratories Ltd.

439,876

 

3,993

 

Associated Cement Cos. Ltd.

386,609

 

3,958

 

Asea Brown Boveri India Ltd.

383,690

 

3,750

^

Wipro Ltd. ADR

513,264

 

3,562

 

Zee Entertainment Enterprises

1,562,830

 

3,474

 

Ranbaxy Laboratories Ltd.

778,281

 

3,403

*

Essar Oil Ltd.

2,175,618

 

3,237

 

Dr. Reddy's Laboratories Ltd. ADR

324,899

 

2,940

 

Tata Communications Ltd.

297,838

 

2,710

 

HCL Technologies Ltd.

1,157,546

 

2,707

 

Satyam Computer Services Ltd.

2,449,238

 

2,632

 

JSW Steel Ltd.

609,752

 

2,586

 

Siemens India Ltd.

611,123

 

2,539

 

State Bank of India GDR

52,929

 

2,532

 

Aditya Birla Nuvo Ltd.

256,808

 

2,426

*

Glenmark Pharmaceuticals Ltd.

731,777

 

2,031

 

Indian Hotels Co. Ltd.

2,408,717

 

1,964

 

Unitech, Ltd.

2,474,227

 

1,600

 

Tata Communications Ltd.

68,920

 

1,240

 

Satyam Computer Services Ltd. ADR

564,492

 

1,073

 

Infosys Technologies Ltd. ADR

5,089

 

135

 

813,654

Indonesia (1.5%)

 

PT Telekomunikasi Indonesia Tbk

78,401,979

 

43,021

 

PT Bank Central Asia Tbk

95,628,224

 

22,696

 

PT Astra International Tbk

16,044,090

 

18,037

 

PT Bank Rakyat Indonesia Tbk

42,748,800

 

16,732

 

PT Perusahaan Gas Negara Tbk

80,480,480

 

15,189

 

PT Indonesian Satellite Corp. Tbk

19,049,773

 

9,336

 

PT Bank Mandiri Tbk

56,120,024

 

8,778

 

 

 

 

PT Unilever Indonesia Tbk

12,342,730

 

8,503

*

PT Lippo Karawaci Tbk

83,791,500

 

6,100

 

PT Bumi Resources Tbk

136,430,552

 

5,932

 

PT United Tractors Tbk

11,648,373

 

5,091

 

PT Tambang Batubara Bukit Asam Tbk

6,230,286

 

3,963

 

PT Semen Gresik Tbk

11,500,820

 

3,449

 

PT International Nickel Indonesia Tbk

15,483,150

 

3,291

 

PT Indocement Tunggal Prakarsa Tbk (Local)

8,259,103

 

3,224

 

PT Astra Agro Lestari Tbk

3,133,680

 

2,942

 

PT Indofood Sukses Makmur Tbk

32,545,296

 

2,753

 

PT Bank Danamon Tbk

13,851,918

 

2,713

 

PT Aneka Tambang Tbk

26,366,659

 

2,505

*

PT Truba Alam Manunggal Engineering Tbk

92,464,200

 

403

*

PT Bank Pan Indonesia Tbk Warrants Exp. 7/10/09

7,066,431

 

99

 

184,757

Israel (3.6%)

 

Teva Pharmaceutical Industries Ltd.

5,820,310

 

240,509

*

Check Point Software Technologies Ltd.

1,379,551

 

31,274

 

Teva Pharmaceutical Industries Ltd. Sponsored ADR

685,000

 

28,393

 

Israel Chemicals Ltd.

4,072,368

 

27,696

 

Bank Leumi Le-Israel

7,947,573

 

14,475

 

Bank Hapoalim Ltd.

7,604,279

 

13,695

 

Bezeq Israeli Telecommunication Corp., Ltd.

8,075,566

 

11,940

 

Partner Communications Co. Ltd.

661,809

 

10,172

*

NICE Systems Ltd.

518,845

 

9,985

 

Elbit Systems Ltd.

176,583

 

7,821

 

Makhteshim-Agan Industries Ltd.

2,278,383

 

7,120

 

Cellcom Israel Ltd.

268,871

 

5,695

 

Ormat Industries Ltd.

583,570

 

4,254

 

United Mizrahi Bank Ltd.

913,781

 

4,218

 

The Israel Corp. Ltd.

17,187

 

3,586

 

Israel Discount Bank Ltd.

3,721,003

 

2,841

 

Discount Investment Corp. Ltd.

274,452

 

2,393

 

Gazit-Globe (1982) Ltd.

447,006

 

2,006

 

Oil Refineries Ltd.

6,846,615

 

1,626

 

Delek Group, Ltd.

16,782

 

1,101

 

Africa-Israel Investments Ltd.

119,794

 

880

*

Koor Industries Ltd.

86,097

 

829

 

432,509

Malaysia (3.2%)

 

Bumiputra-Commerce Holdings Bhd.

18,757,832

 

32,937

 

Sime Darby Bhd.

17,821,713

 

26,967

 

IOI Corp. Bhd.

25,025,155

 

26,815

 

Malayan Banking Bhd.

18,093,192

 

26,077

 

Malaysia International Shipping Corp., Bhd. (Foreign)

8,258,265

 

19,662

 

Public Bank Bhd.

7,838,260

 

18,681

 

Genting Bhd.

16,313,790

 

16,475

 

 

 

 

Tenaga Nasional Bhd.

9,610,346

 

15,599

 

Resorts World Bhd.

21,617,010

 

13,298

 

Digi.com Bhd.

2,293,255

 

12,990

 

British American Tobacco Bhd.

1,051,405

 

12,864

 

YTL Corp., Bhd.

6,030,662

 

11,642

 

PPB Group Bhd.

3,914,144

 

10,205

 

Petronas Gas Bhd.

3,684,728

 

9,982

 

Kuala Lumpur Kepong Bhd.

3,520,608

 

9,646

 

PLUS Expressways Bhd.

11,025,882

 

8,831

 

AMMB Holdings Bhd.

13,239,158

 

8,317

 

YTL Power International Bhd.

14,725,127

 

7,681

 

UMW Holdings Malaysia Bhd.

4,742,360

 

7,266

 

Berjaya Sports Toto Bhd.

5,520,656

 

7,153

*

TM International Bhd.

7,968,840

 

6,978

 

Telekom Malaysia Bhd.

7,753,140

 

6,782

 

Gamuda Bhd.

12,104,788

 

6,303

 

Tanjong Public Ltd. Co.

1,542,036

 

5,736

 

SP Setia Bhd.

6,206,652

 

5,630

 

IJM Corp. Bhd.

6,001,750

 

5,576

 

Hong Leong Bank Bhd.

3,564,536

 

5,008

 

Petronas Dagangan Bhd.

1,909,000

 

3,880

 

Alliance Financial Group Bhd.

6,605,417

 

3,432

 

Bursa Malaysia Bhd.

2,384,052

 

3,329

 

RHB Capital Bhd.

3,281,935

 

3,321

 

KLCC Property Holdings Bhd.

3,670,400

 

2,936

 

IGB Corp., Bhd.

6,979,100

 

2,780

 

Malaysia Mining Corp., Bhd.

7,012,000

 

2,556

 

KNM Group Bhd.

21,591,016

 

2,550

 

Hong Leong Financial Group Bhd.

2,028,700

 

2,530

 

Lafarge Malayan Cement Bhd.

2,632,620

 

2,292

 

Parkson Holdings, Bhd.

2,449,095

 

2,189

 

Malaysian Airline System Bhd.

2,588,900

 

2,029

*

Airasia Bhd.

8,352,548

 

2,012

 

Asiatic Development Bhd.

1,807,700

 

1,941

 

Astro All Asia Networks PLC

2,937,190

 

1,726

*

IJM Land Bhd. Warrants Exp. 9/11/13

365,867

 

20

 

384,624

Mexico (5.0%)

 

America Movil SA de CV

133,111,256

 

189,652

 

Grupo Televisa SA CPO

18,130,162

 

50,615

 

Wal-Mart de Mexico SA

21,961,072

 

45,811

 

Fomento Economico Mexicano UBD

16,004,168

 

44,747

 

Telefonos de Mexico SA

46,809,024

 

41,409

 

Cemex SA CPO

51,865,021

 

40,792

 

Telmex Internacional SAB de CV

46,639,777

 

22,042

*

Carso Global Telecom SAB de CV

5,216,018

 

18,831

 

Grupo Mexico SA de CV

28,995,737

 

15,903

 

 

 

 

Kimberly Clark de Mexico SA de CV Series A

4,158,624

 

13,430

 

Grupo Financerio Banorte SA de CV

9,753,930

 

12,852

 

Grupo Elektra SA de CV

546,405

 

12,341

 

Grupo Financiero Inbursa, SA de CV

4,973,816

 

11,102

 

Grupo Modelo SA

3,928,547

 

10,358

 

Grupo Carso SA de CV Series A1

4,359,666

 

9,771

 

Grupo Bimbo SA

2,235,488

 

7,999

 

Coca-Cola Femsa SA de CV

2,062,449

 

7,819

 

Industrias Penoles, SA de CV

748,846

 

6,720

*

Empresas ICA SA de CV

3,502,149

 

5,787

*

Desarrolladora Homex SA de CV

1,524,990

 

4,851

 

Grupo Aeroportuario del Pacifico SA

1,931,207

 

3,597

 

Alfa SA de CV Series A

2,119,331

 

3,540

 

Banco Conpartamos SA de CV

1,860,717

 

3,466

*

URBI Desarrollos Urbanos SA de CV

3,337,893

 

3,427

 

Mexichem SA de CV

4,224,286

 

3,099

 

Grupo Aeroportuario del Pacifico SA ADR

164,417

 

3,075

 

Cemex SAB de CV ADR

11,033

 

86

 

593,122

Peru (0.6%)

 

Credicorp Ltd.

468,402

 

19,298

 

Compania de Minas Buenaventura SA

854,554

 

16,221

 

Southern Copper Corp. (U.S. Shares)

880,866

 

12,279

 

Southern Copper Corp.

769,472

 

10,773

 

Compania de Minas Buenaventura SA ADR

546,299

 

10,292

 

Compania Minera Milpo SA

3,702,499

 

6,737

*

Credicorp Ltd.

50,434

 

2,083

 

77,683

Philippines (0.6%)

 

Philippine Long Distance Telephone Co.

436,860

 

19,053

 

Bank of Philippine Islands

11,940,838

 

8,561

 

Ayala Corp.

1,676,986

 

6,804

 

SM Investments Corp.

1,581,726

 

6,316

 

Ayala Land, Inc.

41,403,650

 

5,420

 

SM Prime Holdings, Inc.

31,361,758

 

4,706

 

Globe Telecom, Inc.

256,503

 

4,468

 

Manila Electric Co.

3,405,832

 

4,216

 

Banco De Oro

6,254,291

 

2,959

 

Jollibee Foods Corp.

3,169,759

 

2,608

 

Metropolitan Bank & Trust Co.

4,300,210

 

2,053

 

PNOC Energy Development Corp.

42,283,503

 

1,908

 

International Container Terminal Services, Inc.

6,046,826

 

1,359

 

70,431

Poland (1.4%)

 

Telekomunikacja Polska SA

5,450,691

 

30,762

 

Powszechna Kasa Oszczednosci Bank Polski SA

3,843,739

 

30,446

 

Bank Polska Kasa Opieki Grupa Pekao SA

898,424