0001752724-21-016655.txt : 20210129 0001752724-21-016655.hdr.sgml : 20210129 20210129135714 ACCESSION NUMBER: 0001752724-21-016655 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20201130 FILED AS OF DATE: 20210129 PERIOD START: 20210831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD ADMIRAL FUNDS CENTRAL INDEX KEY: 0000891190 IRS NUMBER: 232696041 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-07043 FILM NUMBER: 21570207 BUSINESS ADDRESS: STREET 1: P.O. BOX 2600, V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. 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5493008LG4W3I6K8J118 DECKERS OUTDOOR 243537107 25250.00000000 NS USD 6428397.50000000 0.668803795053 Long EC CORP US N 1 N N N WW International Inc SGT8R1MU6ESIC7UJC518 WW INTERNATIONAL 98262P101 21949.00000000 NS USD 647714.99000000 0.067387594408 Long EC CORP US N 1 N N N EastGroup Properties Inc 31TIGQQZC4P6JMHKSW85 EASTGROUP PROP 277276101 35442.00000000 NS USD 4831807.86000000 0.502696268197 Long EC CORP US N 1 N N N Taubman Centers Inc N/A TAUBMAN CENTERS 876664103 23956.00000000 NS USD 1023400.32000000 0.106473505702 Long EC CORP US N 1 N N N Omega Healthcare Investors Inc 549300OJ7ENK42CZ8E73 OMEGA HEALTHCARE 681936100 92033.00000000 NS USD 3241402.26000000 0.337232122435 Long EC CORP US N 1 N N N ICU Medical Inc 5493003NRW7LS2QZRH60 ICU MEDICAL 44930G107 17547.00000000 NS USD 3311118.90000000 0.344485369206 Long EC CORP US N 1 N N N Valvoline Inc 549300CMHPBEY6VPOT75 VALVOLINE INC 92047W101 90035.00000000 NS USD 2051897.65000000 0.213477299028 Long EC CORP US N 1 N N N Cable One Inc 549300648QS85T0XSH18 CABLE ONE INC 12685J105 4882.00000000 NS USD 9669630.94000000 1.006018353632 Long EC CORP US N 1 N N N Universal Display Corp N/A UNIVERSAL DISPLA 91347P105 38622.00000000 NS USD 8845982.88000000 0.920326865463 Long EC CORP US N 1 N N N RPM International Inc 549300TJCKW4BRXPJ474 RPM INTL INC 749685103 70270.00000000 NS USD 6184462.70000000 0.643425071976 Long EC CORP US N 1 N N N Repligen Corp 54930006QJ0T5AUO1E71 REPLIGEN CORP 759916109 43999.00000000 NS USD 8345290.33000000 0.868235332916 Long EC CORP US N 1 N N N National Instruments Corp 549300TP4OOPCYWDUP86 NATL INSTRUMENTS 636518102 55665.00000000 NS USD 2083540.95000000 0.216769435074 Long EC CORP US N 1 N N N Neogen Corp 549300HJT9FC36N4UW43 NEOGEN CORP 640491106 30583.00000000 NS USD 2269870.26000000 0.236154942840 Long EC CORP US N 1 N N N Coherent Inc 549300RYOCKUMWACR010 COHERENT INC 192479103 21858.00000000 NS USD 2661867.24000000 0.276937901248 Long EC CORP US N 1 N N N Rexford Industrial 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COLONY 513847103 8620.00000000 NS USD 1459624.60000000 0.151857826438 Long EC CORP US N 1 N N N Ollie's Bargain Outlet Holdings Inc 529900YO5DSQCPEFDZ05 OLLIE'S BARGAIN 681116109 28701.00000000 NS USD 2527410.06000000 0.262949115978 Long EC CORP US N 1 N N N Teradata Corp 549300JU9SOUHV4U4R71 TERADATA CORP 88076W103 38403.00000000 NS USD 842177.79000000 0.087619302020 Long EC CORP US N 1 N N N Masimo Corp 549300Q4A8JK0PIYCU29 MASIMO CORP 574795100 45553.00000000 NS USD 11592782.97000000 1.206101092157 Long EC CORP US N 1 N N N Quidel Corp 549300X2FQ6S98OQLQ46 QUIDEL CORP 74838J101 34399.00000000 NS USD 6709524.95000000 0.698052002784 Long EC CORP US N 1 N N N ITT Corp YB2O5TUONPB3W1X7WJ88 ITT INC 45073V108 52164.00000000 NS USD 3788671.32000000 0.394169426677 Long EC CORP US N 1 N N N Lamar Advertising Co 529900Y8WW4MKVPTB543 LAMAR ADVERTIS-A 512816109 47486.00000000 NS USD 3780360.46000000 0.393304773440 Long EC CORP US N 1 N N N 2020-12-31 VANGUARD ADMIRAL FUNDS Christine M. Buchanan Christine M. Buchanan Treasurer XXXX NPORT-EX 2 vgspmidcap400growth113020.htm
Vanguard® S&P Mid-Cap 400 Growth Index Fund
Schedule of Investments (unaudited)
As of November 30, 2020
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
          Shares Market
Value
($000)
Common Stocks (99.9%)
Communication Services (1.7%)
  Cable One Inc.   4,882   9,670
  New York Times Co. Class A  85,871   3,685
* Yelp Inc.  61,948   1,978
  World Wrestling Entertainment Inc. Class A  23,924   1,030
            16,363
Consumer Discretionary (15.4%)
* Caesars Entertainment Inc. 179,707  12,242
  Dunkin' Brands Group Inc.  74,137   7,884
* Five Below Inc.  50,320   7,870
  Gentex Corp. 221,468   7,220
  Lithia Motors Inc. Class A  23,089   6,680
* Deckers Outdoor Corp.  25,250   6,428
* RH 13,907 6,302
  Churchill Downs Inc. 31,981 5,754
  Williams-Sonoma Inc. 48,371 5,295
* TopBuild Corp. 29,810 5,194
  Polaris Inc. 51,957 4,988
  Wyndham Hotels & Resorts Inc. 83,946 4,827
  Marriott Vacations Worldwide Corp. 36,998 4,711
* Tempur Sealy International Inc. 172,852 4,354
* Skechers U.S.A. Inc. Class A 122,825 4,111
  Service Corp. International 80,990 3,939
  Wingstop Inc. 26,671 3,395
* Grubhub Inc. 46,566 3,275
* Fox Factory Holding Corp. 37,340 3,259
  Murphy USA Inc. 24,452 3,135
  Boyd Gaming Corp. 72,266 2,781
* Helen of Troy Ltd. 13,463 2,719
  Brunswick Corp. 34,954 2,609
  Choice Hotels International Inc. 25,942 2,585
* Ollie's Bargain Outlet Holdings Inc. 28,701 2,527
  Toll Brothers Inc. 51,735 2,450
  Texas Roadhouse Inc. 29,981 2,273
  Carter's Inc. 24,772 2,204
  Aaron's Holdings Co. Inc. 34,486 2,170
* Visteon Corp. 17,803 2,151
  Wendy's Co. 93,576 2,058
* Scientific Games Corp. 50,350 1,877
  Papa John's International Inc. 18,924 1,521
  Columbia Sportswear Co. 16,996 1,392
  Wyndham Destinations Inc. 33,016 1,389

          Shares Market
Value
($000)
  KB Home  36,501   1,285
  Strategic Education Inc.  11,629   1,092
  Six Flags Entertainment Corp.  34,034   1,046
  Jack in the Box Inc.  10,041     924
* WW International Inc.  21,949     648
            148,564
Consumer Staples (2.7%)
* Boston Beer Co. Inc. Class A   8,209   7,641
  Casey's General Stores Inc.  33,257   6,042
* Post Holdings Inc.  26,105   2,466
  Sanderson Farms Inc.  17,837   2,439
  Energizer Holdings Inc.  52,484   2,199
* Grocery Outlet Holding Corp.  46,573   1,799
  Lancaster Colony Corp.   8,620   1,460
  Coty Inc. Class A 119,359 858
* Pilgrim's Pride Corp. 28,058 530
  Tootsie Roll Industries Inc. 7,281 225
            25,659
Energy (0.5%)
* WPX Energy Inc. 364,040 2,592
  Cimarex Energy Co. 49,648 1,785
  Murphy Oil Corp. 58,437 588
            4,965
Financials (8.5%)
  FactSet Research Systems Inc. 34,236 11,427
  Brown & Brown Inc. 211,519 9,525
  RenaissanceRe Holdings Ltd. 46,152 7,599
  SEI Investments Co. 109,574 5,780
  Eaton Vance Corp. 73,049 4,893
  Primerica Inc. 35,612 4,639
  Essent Group Ltd. 101,303 4,443
  Alleghany Corp. 6,449 3,709
  Commerce Bancshares Inc. 49,748 3,281
  First Financial Bankshares Inc. 81,910 2,737
* LendingTree Inc. 9,806 2,506
  Evercore Inc. Class A 25,604 2,328
  RLI Corp. 22,457 2,150
  Stifel Financial Corp. 30,274 2,098
  Glacier Bancorp Inc. 50,722 2,068
  New York Community Bancorp Inc. 208,969 2,025
  SLM Corp. 169,036 1,794
  Federated Hermes Inc. 60,894 1,634
  Bank of Hawaii Corp. 20,897 1,565
  FirstCash Inc. 24,298 1,561
  MGIC Investment Corp. 121,929 1,458
  CIT Group Inc. 41,748 1,398
  Washington Federal Inc. 43,096 1,007
            81,625
Health Care (14.9%)
* Masimo Corp. 45,553 11,593
  Bio-Techne Corp. 34,738 10,536
* Charles River Laboratories International Inc. 44,766 10,499
* Repligen Corp. 43,999 8,345
* Amedisys Inc. 29,256 7,162
  Chemed Corp. 14,345 6,861
* Penumbra Inc. 30,259 6,714
* Quidel Corp. 34,399 6,710

          Shares Market
Value
($000)
* PRA Health Sciences Inc.  57,636   6,467
* Arrowhead Pharmaceuticals Inc.  92,177   5,764
* LHC Group Inc.  28,466   5,588
* Jazz Pharmaceuticals plc  37,981   5,344
* Exelixis Inc. 278,434   5,335
* HealthEquity Inc.  69,107   4,954
* Syneos Health Inc.  62,961   4,145
* Globus Medical Inc. Class A  67,878   4,078
* Integra LifeSciences Holdings Corp.  63,787   3,491
  Encompass Health Corp.  42,118   3,394
* ICU Medical Inc.  17,547   3,311
* Haemonetics Corp.  29,239   3,300
* Halozyme Therapeutics Inc.  80,981   3,166
* Medpace Holdings Inc.  24,568   3,154
  Hill-Rom Holdings Inc. 33,010 3,131
* Neogen Corp. 30,583 2,270
* Emergent BioSolutions Inc. 24,727 2,026
* NuVasive Inc. 30,021 1,391
*,1 Ligand Pharmaceuticals Inc. 14,507 1,224
* LivaNova plc 22,333 1,180
  Cantel Medical Corp. 18,970 1,127
* Nektar Therapeutics 51,724 848
            143,108
Industrials (20.0%)
* Generac Holdings Inc. 56,580 12,199
  Graco Inc. 150,223 10,176
  Nordson Corp. 48,636 9,913
  Toro Co. 96,686 8,770
  Hubbell Inc. 48,867 7,896
* Trex Co. Inc. 104,309 7,804
* Axon Enterprise Inc. 57,199 7,189
  Carlisle Cos. Inc. 49,183 7,123
  Lincoln Electric Holdings Inc. 53,495 6,152
  Lennox International Inc. 20,704 5,959
  Woodward Inc. 52,280 5,847
  Tetra Tech Inc. 48,559 5,791
* Sunrun Inc. 89,263 5,720
* IAA Inc. 82,078 4,918
  Knight-Swift Transportation Holdings Inc. 113,501 4,686
  Timken Co. 60,904 4,473
* Middleby Corp. 29,069 3,953
  Donaldson Co. Inc. 72,739 3,873
  ITT Inc. 52,164 3,789
  Owens Corning 51,587 3,759
  Hexcel Corp. 75,250 3,726
  Simpson Manufacturing Co. Inc. 39,175 3,600
* Mercury Systems Inc. 50,463 3,594
* FTI Consulting Inc. 32,977 3,463
  Watsco Inc. 15,084 3,430
* Clean Harbors Inc. 46,127 3,338
  Curtiss-Wright Corp. 27,350 3,152
  MSA Safety Inc. 20,855 3,117
  Landstar System Inc. 23,519 3,091
  Brink's Co. 45,526 3,055
  Oshkosh Corp. 36,209 2,915
* MasTec Inc. 50,557 2,867
  AGCO Corp. 29,332 2,714
* Stericycle Inc. 36,272 2,555

          Shares Market
Value
($000)
  CoreLogic Inc.  32,220   2,497
* ASGN Inc.  28,859   2,256
  EMCOR Group Inc.  22,762   1,962
  Herman Miller Inc.  53,051   1,891
* Builders FirstSource Inc.  47,332   1,771
  Insperity Inc.  18,203   1,556
* Colfax Corp.  40,809   1,472
  Valmont Industries Inc.   8,855   1,443
* Kirby Corp.  28,103   1,422
  Werner Enterprises Inc.  24,016     960
            191,837
Information Technology (20.9%)
* Trimble Inc. 225,473  13,499
* SolarEdge Technologies Inc.  45,163  12,554
* Fair Isaac Corp. 26,131 12,354
  Monolithic Power Systems Inc. 38,042 12,172
  Cognex Corp. 155,934 11,717
* Enphase Energy Inc. 81,753 11,165
  Universal Display Corp. 38,622 8,846
* WEX Inc. 39,736 6,884
  MKS Instruments Inc. 49,672 6,854
* Ceridian HCM Holding Inc. 70,188 6,767
* Paylocity Holding Corp. 33,458 6,578
* Lumentum Holdings Inc. 67,765 5,854
* Manhattan Associates Inc. 57,239 5,852
* CACI International Inc. Class A 22,615 5,366
* PTC Inc. 48,969 5,281
  Jabil Inc. 122,118 4,667
* Silicon Laboratories Inc. 39,464 4,626
* Cirrus Logic Inc. 52,617 4,215
  CMC Materials Inc. 26,182 4,039
* Ciena Corp. 85,845 3,846
* J2 Global Inc. 40,324 3,613
  KBR Inc. 128,282 3,562
* ACI Worldwide Inc. 104,878 3,417
  Littelfuse Inc. 13,819 3,324
  CDK Global Inc. 66,804 3,200
* Qualys Inc. 30,414 2,890
* Sailpoint Technologies Holdings Inc. 61,284 2,853
  Perspecta Inc. 123,138 2,761
* Coherent Inc. 21,858 2,662
  Blackbaud Inc. 44,672 2,461
  Science Applications International Corp. 23,586 2,183
  MAXIMUS Inc. 30,388 2,182
  National Instruments Corp. 55,665 2,084
* Semtech Corp. 29,944 2,020
  Sabre Corp. 134,448 1,513
* Synaptics Inc. 18,846 1,466
* LiveRamp Holdings Inc. 23,746 1,389
* NCR Corp. 49,713 1,376
* ViaSat Inc. 29,427 1,000
* CommVault Systems Inc. 20,517 980
* Teradata Corp. 38,403 842
            200,914
Materials (5.1%)
  Reliance Steel & Aluminum Co. 57,453 6,768
  Royal Gold Inc. 59,105 6,529

          Shares Market
Value
($000)
  Scotts Miracle-Gro Co.  36,685   6,448
  RPM International Inc.  70,270   6,184
  AptarGroup Inc.  34,857   4,403
  Eagle Materials Inc.  37,627   3,424
  Steel Dynamics Inc.  88,242   3,195
  Louisiana-Pacific Corp.  72,866   2,494
* Ingevity Corp.  37,194   2,476
  Valvoline Inc.  90,035   2,052
  NewMarket Corp.   4,287   1,585
  Silgan Holdings Inc.  42,560   1,439
  Compass Minerals International Inc.  22,022   1,376
  Cabot Corp.  22,953     951
            49,324
Real Estate (8.6%)
  Rexford Industrial Realty Inc. 111,544 5,345
  STORE Capital Corp. 160,323 5,220
  EastGroup Properties Inc. 35,442 4,832
  CoreSite Realty Corp. 38,326 4,806
  CyrusOne Inc. 68,454 4,786
  Camden Property Trust 48,268 4,770
  Cousins Properties Inc. 133,873 4,473
  Lamar Advertising Co. Class A 47,486 3,780
  Kilroy Realty Corp. 56,667 3,466
  National Retail Properties Inc. 86,006 3,242
  Omega Healthcare Investors Inc. 92,033 3,241
  First Industrial Realty Trust Inc. 75,648 3,168
* Jones Lang LaSalle Inc. 22,396 2,963
  Douglas Emmett Inc. 93,580 2,898
  Life Storage Inc. 25,787 2,829
  PS Business Parks Inc. 18,076 2,382
  American Campus Communities Inc. 59,528 2,369
  Brixmor Property Group Inc. 149,610 2,285
  Highwoods Properties Inc. 46,878 1,795
  Healthcare Realty Trust Inc. 56,386 1,663
  Physicians Realty Trust 91,794 1,593
  Rayonier Inc. 51,710 1,457
  Spirit Realty Capital Inc. 38,996 1,437
  Hudson Pacific Properties Inc. 49,722 1,293
  PotlatchDeltic Corp. 27,706 1,289
  Corporate Office Properties Trust 46,475 1,238
  EPR Properties 29,642 1,068
  Taubman Centers Inc. 23,956 1,023
  Weingarten Realty Investors 47,848 1,001
  Urban Edge Properties 45,373 589
            82,301
Utilities (1.6%)
  Essential Utilities Inc. 110,570 5,007
  MDU Resources Group Inc. 75,863 1,892
  ONE Gas Inc. 23,850 1,888
  IDACORP Inc. 20,463 1,853
  PNM Resources Inc. 35,891 1,763
  Hawaiian Electric Industries Inc. 47,224 1,692
  Black Hills Corp. 26,566 1,616
            15,711
Total Common Stocks (Cost $802,710) 960,371

      Coupon   Shares Market
Value
($000)
Temporary Cash Investments (0.1%)
Money Market Fund (0.1%)
2,3 Vanguard Market Liquidity Fund
(Cost $1,189)
0.109%    11,894   1,189
Total Investments (100.0%) (Cost $803,899)   961,560
Other Assets and Liabilities—Net (0.0%)   (370)
Net Assets (100%)   961,190
Cost is in $000.
* Non-income-producing security.
1 Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,139,000.
2 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
3 Collateral of $1,188,000 was received for securities on loan.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts
Notional
Amount
Value and
Unrealized
Appreciation
(Depreciation)
Long Futures Contracts        
E-mini S&P Mid-Cap 400 Index December 2020 4 867 111

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.
B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. 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. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C.  Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
At November 30, 2020, 100% of the market value of the fund's investments and derivatives was determined based on Level 1 inputs.