NPORT-EX 2 vg_spsmcap600indx.htm
Vanguard® S&P Small-Cap 600 Index Fund
Schedule of Investments (unaudited)
As of May 31, 2022
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 (99.7%)
Communication Services (1.9%)
  Cogent Communications Holdings Inc.   179,721    10,853
* TechTarget Inc.   112,776     8,017
* Cinemark Holdings Inc.   451,384     7,665
  Telephone & Data Systems Inc.   417,886     7,409
* Gogo Inc.   283,588     5,746
* AMC Networks Inc. Class A   123,596     4,852
  Shenandoah Telecommunications Co.   211,234     4,850
  Scholastic Corp.   128,179     4,811
* EW Scripps Co. Class A   241,754     3,837
* Cars.com Inc.   274,992     2,846
* Gannett Co. Inc.   605,414     2,379
* QuinStreet Inc.   212,260     2,335
  ATN International Inc. 46,387 2,045
* Consolidated Communications Holdings Inc. 302,726 2,004
* Thryv Holdings Inc. 72,213 1,891
* Marcus Corp. 93,094 1,459
* Loyalty Ventures Inc. 84,922 900
            73,899
Consumer Discretionary (11.8%)
* Asbury Automotive Group Inc. 97,975 17,748
* Meritage Homes Corp. 158,020 13,481
  Signet Jewelers Ltd. 222,877 13,283
  Group 1 Automotive Inc. 72,844 13,082
  LCI Industries 107,061 12,796
  Academy Sports & Outdoors Inc. 371,270 12,441
* Dorman Products Inc. 120,563 12,183
  Steven Madden Ltd. 324,101 12,050
* Sonos Inc. 540,564 11,963
* Boot Barn Holdings Inc. 125,721 10,146
* Tri Pointe Homes Inc. 470,959 9,923
* Gentherm Inc. 140,517 9,687
  Installed Building Products Inc. 99,176 9,475
* Vista Outdoor Inc. 238,391 9,188
  MDC Holdings Inc. 240,511 9,183
* LGI Homes Inc. 90,525 8,871
  Kontoor Brands Inc. 201,157 8,060
* Shake Shack Inc. Class A 165,523 8,053
* Cavco Industries Inc. 36,116 8,024
  Wolverine World Wide Inc. 348,187 7,430
* ODP Corp. 194,040 7,410
  Bloomin' Brands Inc. 344,801 7,279
          Shares Market
Value
($000)
* Sally Beauty Holdings Inc.   465,258     7,053
  Rent-A-Center Inc.   255,706     7,042
  Winnebago Industries Inc.   140,982     6,972
* Adtalem Global Education Inc.   210,632     6,871
  Century Communities Inc.   125,665     6,832
  Monro Inc.   141,826     6,725
  Cheesecake Factory Inc.   205,142     6,700
  Strategic Education Inc.    95,724     6,301
* Dave & Buster's Entertainment Inc.   163,869     6,209
  Oxford Industries Inc.    67,112     6,118
  Jack in the Box Inc.    89,229     6,094
  Shutterstock Inc.    98,351     5,921
* M/I Homes Inc.   123,077     5,754
* Brinker International Inc.   188,736     5,728
  Patrick Industries Inc. 95,046 5,713
* iRobot Corp. 113,998 5,425
  Dine Brands Global Inc. 72,804 5,350
  Sturm Ruger & Co. Inc. 74,403 5,051
* Abercrombie & Fitch Co. Class A 239,583 4,897
  La-Z-Boy Inc. 185,694 4,741
* G-III Apparel Group Ltd. 184,874 4,633
  Caleres Inc. 161,076 4,584
* Sleep Number Corp. 95,762 4,398
  Buckle Inc. 124,210 4,082
* Golden Entertainment Inc. 86,022 4,067
  Designer Brands Inc. Class A 260,856 4,051
  Sonic Automotive Inc. Class A 87,744 4,002
* American Axle & Manufacturing Holdings Inc. 482,465 3,913
* MarineMax Inc. 92,704 3,839
* Monarch Casino & Resort Inc. 55,459 3,763
* XPEL Inc. 70,066 3,617
*,1 Bed Bath & Beyond Inc. 407,395 3,524
1 Guess? Inc. 164,865 3,439
* Genesco Inc. 58,062 3,269
  Standard Motor Products Inc. 80,960 3,234
* Perdoceo Education Corp. 296,419 3,234
1 Big Lots Inc. 129,153 3,163
* America's Car-Mart Inc. 25,643 2,780
  Hibbett Inc. 54,431 2,762
* Children's Place Inc. 57,706 2,740
* Zumiez Inc. 82,721 2,714
* BJ's Restaurants Inc. 99,164 2,605
  Aaron's Co. Inc. 132,976 2,601
* Chico's FAS Inc. 519,147 2,570
  Ruth's Hospitality Group Inc. 134,073 2,471
  Movado Group Inc. 69,430 2,356
  Ethan Allen Interiors Inc. 93,354 2,171
  Shoe Carnival Inc. 73,747 2,010
1 PetMed Express Inc. 89,146 1,964
* Chuy's Holdings Inc. 84,367 1,906
  Haverty Furniture Cos. Inc. 63,292 1,789
* WW International Inc. 226,713 1,607
* Liquidity Services Inc. 113,110 1,534
* Universal Electronics Inc. 55,823 1,496
* LL Flooring Holdings Inc. 124,085 1,490
* Fossil Group Inc. 202,366 1,485
* Tupperware Brands Corp. 205,555 1,363
* Motorcar Parts of America Inc. 82,048 1,217
          Shares Market
Value
($000)
* American Public Education Inc.    79,981     1,115
* Conn's Inc.    81,686     1,078
  Cato Corp. Class A    80,730     1,054
* Unifi Inc.    58,229       921
* El Pollo Loco Holdings Inc.    82,833       858
* Vera Bradley Inc.   107,030       729
* Red Robin Gourmet Burgers Inc.    65,929       649
            468,100
Consumer Staples (5.1%)
* Simply Good Foods Co.   358,291    14,317
* Hostess Brands Inc. Class A   586,019    12,453
  Coca-Cola Consolidated Inc.    19,633    11,092
  WD-40 Co.    57,984    10,947
* Celsius Holdings Inc.   162,043    10,871
* United Natural Foods Inc. 246,123 10,438
* TreeHouse Foods Inc. 235,932 9,701
  Edgewell Personal Care Co. 228,684 8,324
  Medifast Inc. 49,288 8,219
  J & J Snack Foods Corp. 63,024 8,081
  PriceSmart Inc. 102,031 8,023
  Cal-Maine Foods Inc. 158,328 7,557
* Central Garden & Pet Co. Class A 167,905 7,107
  Vector Group Ltd. 553,356 6,812
  Universal Corp. 104,334 6,644
1 B&G Foods Inc. 274,384 6,204
  Inter Parfums Inc. 75,146 5,546
* elf Beauty Inc. 202,786 5,398
  SpartanNash Co. 151,969 5,229
  MGP Ingredients Inc. 52,934 5,127
* Chefs' Warehouse Inc. 137,752 4,922
  National Beverage Corp. 98,643 4,896
  Andersons Inc. 128,661 4,839
  Fresh Del Monte Produce Inc. 140,759 3,595
* USANA Health Sciences Inc. 49,378 3,473
  John B Sanfilippo & Son Inc. 37,810 2,888
  Calavo Growers Inc. 74,806 2,547
  Tootsie Roll Industries Inc. 75,548 2,498
* Central Garden & Pet Co. 40,986 1,852
* Seneca Foods Corp. Class A 25,719 1,462
            201,062
Energy (6.6%)
* Southwestern Energy Co. 4,719,284 43,040
  SM Energy Co. 513,999 24,811
  Civitas Resources Inc. 304,964 23,284
  Helmerich & Payne Inc. 446,658 22,489
  Patterson-UTI Energy Inc. 910,834 17,379
* PBF Energy Inc. Class A 402,347 13,358
* Renewable Energy Group Inc. 212,897 13,053
* Callon Petroleum Co. 199,824 11,682
* Green Plains Inc. 226,632 7,383
* CONSOL Energy Inc. 134,151 6,917
  World Fuel Services Corp. 267,161 6,623
  Archrock Inc. 569,586 5,713
* US Silica Holdings Inc. 315,772 5,583
  Core Laboratories NV 196,105 5,526
* Nabors Industries Ltd. 32,834 5,476
* Oceaneering International Inc. 422,044 5,368
          Shares Market
Value
($000)
* Laredo Petroleum Inc.    60,636     5,104
* Dril-Quip Inc.   149,633     4,704
* ProPetro Holding Corp.   358,452     4,678
* Ranger Oil Corp.    89,252     3,821
* Talos Energy Inc.   173,217     3,741
* Par Pacific Holdings Inc.   193,651     3,176
* Bristow Group Inc. Class A    98,017     3,116
* RPC Inc.   297,636     2,786
* Helix Energy Solutions Group Inc.   597,350     2,772
* DMC Global Inc.    81,521     2,255
* Oil States International Inc.   260,958     2,020
  Dorian LPG Ltd.   117,698     2,001
* REX American Resources Corp.    22,062     1,917
* Nabors Industries Ltd. Warrants Exp. 6/11/26     8,451       443
            260,219
Financials (18.2%)
  Assured Guaranty Ltd. 295,535 17,392
  ServisFirst Bancshares Inc. 206,830 17,241
  Independent Bank Corp. (Massachusetts) 200,284 16,684
  BankUnited Inc. 362,678 15,109
  Community Bank System Inc. 228,115 15,056
  CVB Financial Corp. 574,407 14,234
  American Equity Investment Life Holding Co. 349,000 14,051
  United Community Banks Inc. 443,754 13,947
  First Hawaiian Inc. 539,935 13,828
* Mr Cooper Group Inc. 318,108 13,793
  Simmons First National Corp. Class A 534,786 13,749
  Walker & Dunlop Inc. 124,822 13,270
  Pacific Premier Bancorp Inc. 399,744 13,016
  Ameris Bancorp 280,180 12,773
  First Bancorp 854,816 12,762
  WSFS Financial Corp. 277,341 11,865
  Independent Bank Group Inc. 155,749 11,382
  Columbia Banking System Inc. 329,369 9,931
* Trupanion Inc. 145,580 9,736
* Axos Financial Inc. 226,456 8,753
* Genworth Financial Inc. Class A 2,150,892 8,711
  Flagstar Bancorp Inc. 224,953 8,667
  Seacoast Banking Corp. of Florida 247,946 8,490
  Banner Corp. 144,905 8,420
  First Financial Bancorp 400,980 8,413
  Piper Sandler Cos. 59,632 7,859
  Two Harbors Investment Corp. 1,454,667 7,768
1 Hilltop Holdings Inc. 257,421 7,725
  Lakeland Financial Corp. 107,008 7,722
  Trustmark Corp. 260,709 7,584
  Park National Corp. 61,049 7,552
  Provident Financial Services Inc. 323,162 7,430
  Hope Bancorp Inc. 508,805 7,418
  Renasant Corp. 235,789 7,295
* Triumph Bancorp Inc. 100,019 7,275
  BancFirst Corp. 79,999 7,258
  Veritex Holdings Inc. 208,769 7,194
  Apollo Commercial Real Estate Finance Inc. 558,790 7,113
  Horace Mann Educators Corp. 175,495 7,101
* PROG Holdings Inc. 239,824 7,000
  Northwest Bancshares Inc. 535,434 6,902
  Westamerica Bancorp 113,650 6,843
          Shares Market
Value
($000)
* PRA Group Inc.   184,931     6,842
  NBT Bancorp Inc.   183,275     6,778
* NMI Holdings Inc. Class A   362,567     6,747
  Eagle Bancorp Inc.   135,134     6,697
* Green Dot Corp. Class A   231,226     6,669
  PennyMac Mortgage Investment Trust   402,428     6,511
* Encore Capital Group Inc.   104,869     6,409
* Palomar Holdings Inc.   102,088     6,345
  FB Financial Corp.   150,768     6,335
  Stewart Information Services Corp.   113,718     6,310
  OFG Bancorp   209,848     5,947
  Virtus Investment Partners Inc.    30,159     5,810
  Safety Insurance Group Inc.    60,174     5,588
  First Commonwealth Financial Corp.   398,428     5,582
  Capitol Federal Financial Inc. 545,966 5,542
  Southside Bancshares Inc. 136,758 5,515
  First Bancorp (XNGS) 146,109 5,475
* StoneX Group Inc. 72,368 5,433
  Berkshire Hills Bancorp Inc. 205,790 5,373
* Customers Bancorp Inc. 128,271 5,298
  Meta Financial Group Inc. 126,229 5,247
  City Holding Co. 63,907 5,246
  National Bank Holdings Corp. Class A 126,643 5,161
  ProAssurance Corp. 228,251 5,069
* Bancorp Inc. 242,572 5,053
  Redwood Trust Inc. 484,877 4,946
  Employers Holdings Inc. 118,221 4,896
  S&T Bancorp Inc. 166,362 4,893
  New York Mortgage Trust Inc. 1,604,262 4,861
  Brookline Bancorp Inc. 328,144 4,650
* Enova International Inc. 144,374 4,559
  Banc of California Inc. 228,751 4,401
  Dime Community Bancshares Inc. 138,253 4,347
  Ready Capital Corp. 284,339 4,174
  AMERISAFE Inc. 81,851 4,125
  James River Group Holdings Ltd. 157,677 4,029
  Preferred Bank 57,085 3,911
  Heritage Financial Corp. 148,437 3,874
  KKR Real Estate Finance Trust Inc. 189,505 3,870
* Donnelley Financial Solutions Inc. 123,326 3,837
  Tompkins Financial Corp. 50,211 3,827
  B. Riley Financial Inc. 68,049 3,699
* Blucora Inc. 206,021 3,645
  Ellington Financial Inc. 230,774 3,575
  HomeStreet Inc. 84,949 3,424
  Allegiance Bancshares Inc. 80,045 3,222
* LendingTree Inc. 48,521 3,062
  Brightsphere Investment Group Inc. 148,232 3,022
  Hanmi Financial Corp. 128,842 3,007
  United Fire Group Inc. 91,493 2,965
  Franklin BSP Realty Trust Inc. 186,176 2,882
1 ARMOUR Residential REIT Inc. 378,887 2,864
  Central Pacific Financial Corp. 117,373 2,833
  WisdomTree Investments Inc. 461,042 2,743
  TrustCo Bank Corp. 81,228 2,616
* World Acceptance Corp. 17,464 2,586
  Granite Point Mortgage Trust Inc. 228,771 2,517
  Northfield Bancorp Inc. 183,701 2,441
          Shares Market
Value
($000)
* Invesco Mortgage Capital Inc. 1,316,345     2,343
  HCI Group Inc.    33,934     2,307
* Ambac Financial Group Inc.   195,212     2,091
* SiriusPoint Ltd.   363,942     2,038
* EZCORP Inc. Class A   226,256     1,715
* Selectquote Inc.   529,162     1,545
  Universal Insurance Holdings Inc.   119,486     1,541
* eHealth Inc.   100,575     1,056
  Greenhill & Co. Inc.    56,990       701
            718,934
Health Care (11.5%)
* Omnicell Inc.   185,993    20,675
* Lantheus Holdings Inc.   286,499    19,631
* AMN Healthcare Services Inc.   200,022    19,382
  Ensign Group Inc. 221,608 17,988
  CONMED Corp. 124,026 14,423
* Cytokinetics Inc. 354,864 14,159
* Merit Medical Systems Inc. 214,996 13,199
* Pacira BioSciences Inc. 188,419 11,918
* Prestige Consumer Healthcare Inc. 212,619 11,868
* Integer Holdings Corp. 139,864 11,158
  Owens & Minor Inc. 319,612 11,148
  Select Medical Holdings Corp. 448,881 10,930
* Covetrus Inc. 436,968 9,098
* Allscripts Healthcare Solutions Inc. 518,441 8,860
* Corcept Therapeutics Inc. 404,054 8,421
* Glaukos Corp. 198,988 8,125
* Vir Biotechnology Inc. 309,874 7,998
* MEDNAX Inc. 360,666 6,968
* Emergent BioSolutions Inc. 202,977 6,690
* Myriad Genetics Inc. 338,498 6,513
* Supernus Pharmaceuticals Inc. 225,523 6,285
* Ligand Pharmaceuticals Inc. 70,661 6,283
  US Physical Therapy Inc. 54,573 6,144
* Tivity Health Inc. 187,220 6,066
*,1 Apollo Medical Holdings Inc. 159,702 5,995
* Embecta Corp. 240,767 5,966
* CorVel Corp. 39,704 5,922
* Avanos Medical Inc. 203,725 5,845
* Amphastar Pharmaceuticals Inc. 155,751 5,785
* Addus HomeCare Corp. 67,340 5,623
* Dynavax Technologies Corp. 471,707 5,594
* Xencor Inc. 247,217 5,520
* Vericel Corp. 197,945 5,374
* Meridian Bioscience Inc. 184,084 5,062
* ModivCare Inc. 52,088 4,971
* Natus Medical Inc. 144,380 4,734
  Mesa Laboratories Inc. 22,179 4,641
* Heska Corp. 45,286 4,519
* Fulgent Genetics Inc. 81,990 4,469
* NeoGenomics Inc. 520,633 4,384
* NextGen Healthcare Inc. 238,335 4,316
* Harmony Biosciences Holdings Inc. 96,417 4,204
* RadNet Inc. 197,125 4,047
* Innoviva Inc. 264,416 4,011
* Varex Imaging Corp. 167,413 3,857
  LeMaitre Vascular Inc. 81,217 3,713
* Arcus Biosciences Inc. 193,072 3,659
          Shares Market
Value
($000)
* Avid Bioservices Inc.   260,563     3,484
* REGENXBIO Inc.   159,183     3,349
* Artivion Inc.   166,435     3,256
* AngioDynamics Inc.   163,775     3,215
  Simulations Plus Inc.    66,615     3,163
* Cutera Inc.    69,086     3,108
* Enanta Pharmaceuticals Inc.    77,162     3,081
* Cardiovascular Systems Inc.   171,878     2,795
* Community Health Systems Inc.   525,261     2,752
* Nektar Therapeutics   781,217     2,719
* Cross Country Healthcare Inc.   149,755     2,643
* Hanger Inc.   155,410     2,454
* Surmodics Inc.    59,371     2,329
* Vanda Pharmaceuticals Inc.   235,077     2,311
* Orthofix Medical Inc. 83,698 2,301
* Collegium Pharmaceutical Inc. 146,625 2,290
* Eagle Pharmaceuticals Inc. 47,925 2,238
* Inogen Inc. 86,751 2,228
* Pennant Group Inc. 114,835 2,197
* uniQure NV 152,967 2,197
* HealthStream Inc. 107,224 2,184
* Computer Programs & Systems Inc. 62,217 1,984
* Coherus Biosciences Inc. 269,543 1,978
* OptimizeRx Corp. 75,468 1,931
* Zimvie Inc. 88,600 1,929
* BioLife Solutions Inc. 126,836 1,740
  Phibro Animal Health Corp. Class A 86,472 1,661
* ANI Pharmaceuticals Inc. 53,817 1,628
* Organogenesis Holdings Inc. Class A 268,068 1,504
* iTeos Therapeutics Inc. 85,566 1,497
* Cara Therapeutics Inc. 177,591 1,478
* Anika Therapeutics Inc. 61,381 1,334
* OraSure Technologies Inc. 306,339 1,271
* Joint Corp. 60,589 1,011
* Tactile Systems Technology Inc. 83,166 845
1 Zynex Inc. 96,327 702
* Endo International plc 982,776 519
*,2 Lantheus Holdings Inc. CVR 276,566 —
            455,447
Industrials (16.0%)
  UFP Industries Inc. 262,265 20,247
  Exponent Inc. 220,533 19,934
  Applied Industrial Technologies Inc. 162,807 16,836
  John Bean Technologies Corp. 134,503 16,376
  Matson Inc. 177,984 15,997
* Resideo Technologies Inc. 611,402 14,441
  Korn Ferry 230,422 14,162
  ABM Industries Inc. 285,090 13,784
  Comfort Systems USA Inc. 152,633 13,694
  Mueller Industries Inc. 242,936 13,082
* Aerojet Rocketdyne Holdings Inc. 317,144 12,920
  Hillenbrand Inc. 308,377 12,902
  Boise Cascade Co. 166,568 12,879
  Franklin Electric Co. Inc. 165,188 12,178
  Albany International Corp. Class A 137,152 11,576
  ManTech International Corp. Class A 116,756 11,168
* Meritor Inc. 299,825 10,845
  Arcosa Inc. 204,736 10,824
          Shares Market
Value
($000)
  Encore Wire Corp.    85,816    10,729
  Forward Air Corp.   114,199    10,642
  UniFirst Corp.    64,433    10,531
* Hub Group Inc. Class A   143,756    10,491
  Moog Inc. Class A   123,106    10,020
  Brady Corp. Class A   204,640     9,927
* SPX Corp.   192,421     9,685
* Allegiant Travel Co.    64,386     9,622
  AAON Inc.   175,501     9,403
  Federal Signal Corp.   258,797     9,084
* GMS Inc.   182,051     9,068
* AeroVironment Inc.    97,583     8,974
* Veritiv Corp.    58,624     8,521
  EnPro Industries Inc.    87,403     8,370
* KAR Auction Services Inc. 512,375 8,183
* Atlas Air Worldwide Holdings Inc. 114,153 7,958
  ArcBest Corp. 105,162 7,953
  ESCO Technologies Inc. 109,909 7,233
  Barnes Group Inc. 196,926 7,095
  HNI Corp. 184,199 7,023
* AAR Corp. 140,985 6,798
* CoreCivic Inc. 508,757 6,548
* MYR Group Inc. 71,343 6,536
  Griffon Corp. 199,941 6,412
  Granite Construction Inc. 193,718 6,325
* NV5 Global Inc. 50,148 6,177
  Lindsay Corp. 46,398 5,846
* Gibraltar Industries Inc. 138,159 5,770
* SkyWest Inc. 213,078 5,745
  Greenbrier Cos. Inc. 137,601 5,726
* Proto Labs Inc. 116,652 5,621
  Healthcare Services Group Inc. 315,195 5,412
* NOW Inc. 467,486 5,161
* PGT Innovations Inc. 252,141 5,068
  Enerpac Tool Group Corp. Class A 255,036 4,978
  Alamo Group Inc. 41,848 4,923
  Tennant Co. 78,363 4,877
  Standex International Corp. 51,726 4,816
  AZZ Inc. 104,429 4,674
  Astec Industries Inc. 96,268 4,502
  Marten Transport Ltd. 252,809 4,439
  Apogee Enterprises Inc. 105,149 4,374
  Matthews International Corp. Class A 133,401 4,317
  Deluxe Corp. 180,160 4,311
  Kaman Corp. 117,762 4,264
* Triumph Group Inc. 273,207 4,180
* Titan International Inc. 216,297 3,939
* Hawaiian Holdings Inc. 216,585 3,844
* GEO Group Inc. 518,263 3,685
* American Woodmark Corp. 70,073 3,649
  Interface Inc. Class A 249,713 3,593
  Insteel Industries Inc. 82,083 3,399
* TrueBlue Inc. 150,056 3,304
  Pitney Bowes Inc. 699,885 3,275
  Wabash National Corp. 207,167 3,180
  Kelly Services Inc. Class A 152,249 3,039
  Quanex Building Products Corp. 141,426 2,877
  Heidrick & Struggles International Inc. 82,798 2,861
          Shares Market
Value
($000)
  Heartland Express Inc.   196,541     2,807
* Harsco Corp.   335,492     2,785
* Viad Corp.    86,784     2,614
* Forrester Research Inc.    47,153     2,468
  Resources Connection Inc.   129,709     2,396
* DXP Enterprises Inc.    73,238     2,247
* CIRCOR International Inc.    86,144     1,675
  National Presto Industries Inc.    21,558     1,457
  Powell Industries Inc.    38,012     1,022
  Park Aerospace Corp.    82,070     1,000
            633,273
Information Technology (13.1%)
* Rogers Corp.    79,337    21,054
* Vonage Holdings Corp. 1,068,685    20,700
* ExlService Holdings Inc. 140,925 20,038
* Onto Innovation Inc. 208,677 16,773
* SPS Commerce Inc. 152,189 16,290
* Diodes Inc. 190,635 14,681
* Insight Enterprises Inc. 147,722 14,598
  Kulicke & Soffa Industries Inc. 263,845 14,292
* Viavi Solutions Inc. 974,086 14,095
* Perficient Inc. 139,511 13,660
* Fabrinet 156,690 13,612
* FormFactor Inc. 331,202 13,599
  Advanced Energy Industries Inc. 159,545 12,997
* Alarm.com Holdings Inc. 195,063 12,334
* MaxLinear Inc. Class A 299,217 11,846
* Sanmina Corp. 269,426 11,825
* Rambus Inc. 463,276 11,628
* NetScout Systems Inc. 312,948 10,744
* Plexus Corp. 119,044 10,095
* Itron Inc. 191,814 9,900
  Badger Meter Inc. 124,058 9,818
  EVERTEC Inc. 253,149 9,604
  Progress Software Corp. 187,518 9,059
* Axcelis Technologies Inc. 140,827 8,740
  CSG Systems International Inc. 137,727 8,565
  InterDigital Inc. 129,738 8,471
* Knowles Corp. 388,292 7,463
  Xperi Holding Corp. 441,975 7,275
* Plantronics Inc. 180,910 7,142
  Methode Electronics Inc. 157,588 7,099
* ePlus Inc. 113,697 6,451
* Ultra Clean Holdings Inc. 189,763 6,368
* TTM Technologies Inc. 441,351 6,307
* Cohu Inc. 205,738 6,261
* 3D Systems Corp. 540,063 5,838
* OSI Systems Inc. 69,520 5,834
* Photronics Inc. 260,648 5,666
  CTS Corp. 136,243 5,541
* Extreme Networks Inc. 546,451 5,421
* Cerence Inc. 165,626 5,260
  TTEC Holdings Inc. 77,486 5,226
* SMART Global Holdings Inc. 198,406 4,891
* LivePerson Inc. 285,256 4,787
* Veeco Instruments Inc. 213,578 4,577
* ScanSource Inc. 108,270 4,194
* Harmonic Inc. 435,365 4,193
          Shares Market
Value
($000)
* Alpha & Omega Semiconductor Ltd.    89,101     3,914
  A10 Networks Inc.   252,469     3,891
  ADTRAN Inc.   207,632     3,847
  Benchmark Electronics Inc.   148,934     3,796
* Ichor Holdings Ltd.   120,146     3,633
* 8x8 Inc.   500,295     3,627
* CEVA Inc.    97,205     3,506
* Unisys Corp.   284,000     3,388
* Agilysys Inc.    82,670     3,379
* Digi International Inc.   147,887     3,268
* Consensus Cloud Solutions Inc.    67,364     3,236
* PDF Solutions Inc.   126,315     3,019
  Ebix Inc.   100,749     2,937
* Arlo Technologies Inc.   356,806     2,526
* FARO Technologies Inc. 77,025 2,482
* NETGEAR Inc. 124,088 2,364
* Corsair Gaming Inc. 140,097 2,249
  PC Connection Inc. 46,717 2,089
* OneSpan Inc. 146,131 1,933
  Comtech Telecommunications Corp. 112,189 1,403
* CalAmp Corp. 153,034 1,111
* Diebold Nixdorf Inc. 307,034 955
            517,365
Materials (5.7%)
* Livent Corp. 684,553 21,762
  Balchem Corp. 137,079 17,057
  HB Fuller Co. 223,665 15,898
* Allegheny Technologies Inc. 538,826 14,818
* Arconic Corp. 450,970 12,686
* O-I Glass Inc. 659,752 10,853
  Innospec Inc. 104,397 10,652
  Stepan Co. 90,217 10,114
  Quaker Chemical Corp. 56,752 8,876
  Trinseo plc 164,214 7,766
* Sylvamo Corp. 149,211 7,571
  Warrior Met Coal Inc. 217,381 7,308
  Carpenter Technology Corp. 204,094 7,190
* GCP Applied Technologies Inc. 228,839 7,121
  Materion Corp. 86,418 7,085
  Kaiser Aluminum Corp. 67,078 6,853
  Compass Minerals International Inc. 144,049 6,472
  AdvanSix Inc. 118,951 5,511
* TimkenSteel Corp. 173,890 4,017
  Myers Industries Inc. 153,200 3,646
  Schweitzer-Mauduit International Inc. 133,008 3,607
  Hawkins Inc. 79,456 2,873
  SunCoke Energy Inc. 352,010 2,848
  American Vanguard Corp. 114,044 2,815
  Neenah Inc. 70,960 2,690
* Century Aluminum Co. 213,690 2,521
  Mercer International Inc. 170,639 2,520
  Koppers Holdings Inc. 90,363 2,449
* Clearwater Paper Corp. 70,851 2,434
  Haynes International Inc. 52,931 2,025
  Glatfelter Corp. 189,683 1,635
  Olympic Steel Inc. 39,642 1,355
  Tredegar Corp. 109,276 1,323
* Rayonier Advanced Materials Inc. 271,266 1,044
          Shares Market
Value
($000)
  FutureFuel Corp.   109,026       784
            226,179
Real Estate (7.7%)
  Agree Realty Corp.   301,800    20,996
  Innovative Industrial Properties Inc.   115,188    15,326
  LXP Industrial Trust 1,197,660    13,845
  SITE Centers Corp.   760,533    11,956
  Essential Properties Realty Trust Inc.   514,949    11,782
  Uniti Group Inc. 1,000,024    11,340
  Retail Opportunity Investments Corp.   513,519     9,279
* DiamondRock Hospitality Co.   892,615     9,185
  Four Corners Property Trust Inc.   327,782     9,037
* Xenia Hotels & Resorts Inc.   484,018     8,901
  Urban Edge Properties   467,139     8,806
  Washington REIT 358,681 8,712
  Brandywine Realty Trust 725,421 8,089
1 Tanger Factory Outlet Centers Inc. 441,120 7,724
  CareTrust REIT Inc. 410,351 7,604
  American Assets Trust Inc. 222,674 7,593
  Acadia Realty Trust 374,108 7,355
  Easterly Government Properties Inc. Class A 364,291 7,151
  NexPoint Residential Trust Inc. 96,085 7,060
  St. Joe Co. 139,438 7,040
  LTC Properties Inc. 166,484 6,450
  Global Net Lease Inc. 438,246 6,342
  Alexander & Baldwin Inc. 306,719 6,257
* Realogy Holdings Corp. 493,055 6,104
* Veris Residential Inc. 338,408 5,445
  Centerspace 63,429 5,263
  iStar Inc. 293,787 5,112
  Getty Realty Corp. 166,794 4,660
  Marcus & Millichap Inc. 105,665 4,425
  Service Properties Trust 698,156 4,419
  Office Properties Income Trust 204,796 4,364
  RPT Realty 356,359 4,337
  Industrial Logistics Properties Trust 276,566 4,220
* Summit Hotel Properties Inc. 450,063 3,934
  Armada Hoffler Properties Inc. 284,640 3,922
  Community Healthcare Trust Inc. 99,327 3,743
  Orion Office REIT Inc. 239,475 3,192
  Universal Health Realty Income Trust 54,192 2,909
  Saul Centers Inc. 55,233 2,710
  Safehold Inc. 59,762 2,680
* Chatham Lodging Trust 206,088 2,626
  Whitestone REIT 195,707 2,405
  Diversified Healthcare Trust 1,009,377 2,291
  Urstadt Biddle Properties Inc. Class A 127,933 2,252
  RE/MAX Holdings Inc. Class A 80,293 1,951
  Franklin Street Properties Corp. 404,051 1,826
  Douglas Elliman Inc. 281,452 1,618
* Hersha Hospitality Trust Class A 140,785 1,546
            305,784
Utilities (2.1%)
  South Jersey Industries Inc. 476,252 16,597
  Avista Corp. 299,692 13,019
  American States Water Co. 156,324 12,389
  California Water Service Group 222,857 11,961
          Shares Market
Value
($000)
  Chesapeake Utilities Corp.    74,579     9,961
  Northwest Natural Holding Co.   129,976     7,056
  Middlesex Water Co.    73,983     6,291
  Unitil Corp.    67,541     3,905
            81,179
Total Common Stocks (Cost $3,801,802) 3,941,441
      Coupon      
Temporary Cash Investments (0.7%)
Money Market Fund (0.7%)
3,4 Vanguard Market Liquidity Fund
(Cost $29,067) 		0.854%     290,720    29,069
Total Investments (100.4%) (Cost $3,830,869)   3,970,510
Other Assets and Liabilities—Net (-0.4%)   (17,031)
Net Assets (100%)   3,953,479
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 $21,083,000.
2 Security value determined using significant unobservable inputs.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
4 Collateral of $22,530,000 was received for securities on loan.
  CVR—Contingent Value Rights.
  REIT—Real Estate Investment Trust.
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 Russell 2000 Index June 2022 127 11,823 (178)
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.
The following table summarizes the market value of the fund's investments and derivatives as of May 31, 2022, based on the inputs used to value them:
  Level 1
($000) 		Level 2
($000) 		Level 3
($000) 		Total
($000)
Investments        
Assets        
Common Stocks 3,941,441 — — 3,941,441
Temporary Cash Investments 29,069 — — 29,069
Total 3,970,510 — — 3,970,510
Derivative Financial Instruments        
Liabilities        
Futures Contracts1 178 — — 178
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.