NPORT-EX 2 vg_spsmallcap600value.htm
Vanguard® S&P Small-Cap 600 Value Index Fund
Schedule of Investments (unaudited)
As of November 30, 2024
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 (99.8%)
Communication Services (3.7%)
* Lumen Technologies Inc. 2,110,387 15,490
  TEGNA Inc. 343,154 6,441
* EchoStar Corp. Class A 250,444 6,334
* Ziff Davis Inc. 92,809 5,462
  John Wiley & Sons Inc. Class A 85,543 4,464
* IAC Inc. 88,057 4,168
  Cable One Inc. 9,563 4,018
  Telephone & Data Systems Inc. 101,171 3,458
* QuinStreet Inc. 114,731 2,613
  Scholastic Corp. 51,846 1,368
* Thryv Holdings Inc. 70,884 1,121
  Shutterstock Inc. 24,840 787
* Consolidated Communications Holdings Inc. 156,722 732
* TechTarget Inc. 22,617 726
* Gogo Inc. 66,335 533
            57,715
Consumer Discretionary (12.5%)
  Bath & Body Works Inc. 463,252 16,788
  VF Corp. 686,526 13,888
  Newell Brands Inc. 863,217 8,278
  Academy Sports & Outdoors Inc. 149,617 7,369
* Etsy Inc. 133,333 7,315
* Brinker International Inc. 53,560 7,084
* Penn Entertainment Inc. 310,400 6,702
* Hanesbrands Inc. 729,835 6,350
* Victoria's Secret & Co. 162,486 6,311
* Asbury Automotive Group Inc. 21,132 5,491
  Advance Auto Parts Inc. 123,692 5,115
  Phinia Inc. 90,605 5,081
* Foot Locker Inc. 170,999 4,301
  Wolverine World Wide Inc. 166,046 3,851
  Leggett & Platt Inc. 278,440 3,506
* Adient plc 181,068 3,482
* Helen of Troy Ltd. 47,361 3,473
1 Kohl's Corp. 230,952 3,457
* Sonos Inc. 251,218 3,419
* Tri Pointe Homes Inc. 75,826 3,301
* Sally Beauty Holdings Inc. 213,125 2,969
  Strategic Education Inc. 29,871 2,952
  Dana Inc. 268,242 2,682
  Cheesecake Factory Inc. 52,460 2,657
  Cracker Barrel Old Country Store Inc. 46,095 2,561
  Century Communities Inc. 28,091 2,538
* Topgolf Callaway Brands Corp. 294,360 2,478
* Dorman Products Inc. 17,493 2,449
* G-III Apparel Group Ltd. 82,228 2,436
  LCI Industries 19,569 2,364
* Revelyst Inc. 120,778 2,283
  Caleres Inc. 72,994 2,268
  Sonic Automotive Inc. Class A 30,267 2,093
* National Vision Holdings Inc. 163,164 1,974
* Dream Finders Homes Inc. Class A 57,494 1,913
* LGI Homes Inc. 17,196 1,883
* BJ's Restaurants Inc. 48,088 1,848
  La-Z-Boy Inc. 40,170 1,818
* ODP Corp. 69,859 1,794
  Papa John's International Inc. 35,957 1,792
  Monro Inc. 62,182 1,749
* Fox Factory Holding Corp. 53,791 1,747
* American Axle & Manufacturing Holdings Inc. 244,184 1,614
  Winnebago Industries Inc. 26,442 1,548
  Perdoceo Education Corp. 56,412 1,548
          Shares Market
Value
($000)
  Upbound Group Inc. 44,459 1,529
* Gentherm Inc. 35,136 1,479
* Sabre Corp. 376,407 1,472
  Standard Motor Products Inc. 42,831 1,408
* MarineMax Inc. 40,787 1,400
  Sturm Ruger & Co. Inc. 34,994 1,333
  Shoe Carnival Inc. 36,655 1,237
  Buckle Inc. 23,598 1,229
  Bloomin' Brands Inc. 80,095 1,116
* Leslie's Inc. 383,560 882
  Ethan Allen Interiors Inc. 27,651 850
* Mister Car Wash Inc. 104,112 833
  Worthington Enterprises Inc. 19,943 816
  Golden Entertainment Inc. 16,993 573
            194,677
Consumer Staples (3.2%)
  PriceSmart Inc. 52,170 4,682
* Grocery Outlet Holding Corp. 203,315 4,270
  Edgewell Personal Care Co. 102,413 3,746
* Central Garden & Pet Co. Class A 108,667 3,672
* TreeHouse Foods Inc. 97,048 3,333
* Chefs' Warehouse Inc. 71,939 3,216
* United Natural Foods Inc. 123,392 3,064
  Universal Corp. 51,274 2,929
  WK Kellogg Co. 137,254 2,855
  Energizer Holdings Inc. 73,239 2,791
* Simply Good Foods Co. 69,965 2,784
  Fresh Del Monte Produce Inc. 69,632 2,350
* Hain Celestial Group Inc. 186,524 1,542
  Andersons Inc. 31,348 1,496
  SpartanNash Co. 70,061 1,330
  B&G Foods Inc. 164,362 1,098
  National Beverage Corp. 21,858 1,080
* USANA Health Sciences Inc. 22,917 883
* Central Garden & Pet Co. 19,099 759
  John B Sanfilippo & Son Inc. 8,774 758
  MGP Ingredients Inc. 12,268 568
  Tootsie Roll Industries Inc. 13,063 432
            49,638
Energy (2.3%)
  Crescent Energy Co. Class A 318,480 4,736
  Cactus Inc. Class A 52,449 3,601
  World Kinect Corp. 122,773 3,554
  Peabody Energy Corp. 143,829 3,430
  Helmerich & Payne Inc. 94,354 3,268
* Talos Energy Inc. 258,272 2,906
  Patterson-UTI Energy Inc. 334,383 2,809
* Bristow Group Inc. Class A 51,135 1,954
* Green Plains Inc. 134,634 1,454
* Comstock Resources Inc. 92,199 1,436
* ProPetro Holding Corp. 166,541 1,399
* Nabors Industries Ltd. 18,677 1,371
* Innovex International Inc. 71,560 1,164
  Core Laboratories Inc. 54,555 1,110
* Vital Energy Inc. 29,030 953
  CVR Energy Inc. 31,834 616
            35,761
Financials (27.5%)
  Comerica Inc. 275,340 19,893
  Jackson Financial Inc. Class A 156,149 15,645
* Mr Cooper Group Inc. 133,811 13,203
  Lincoln National Corp. 353,166 12,551
  Ameris Bancorp 134,248 9,435
  United Community Banks Inc. 247,345 8,363
  Fulton Financial Corp. 377,518 8,147
  Atlantic Union Bankshares Corp. 186,282 7,904
  HA Sustainable Infrastructure Capital Inc. 241,631 7,578
  Community Financial System Inc. 109,075 7,551
          Shares Market
Value
($000)
  First Hawaiian Inc. 265,486 7,330
* Genworth Financial Inc. Class A 896,113 6,990
  Blackstone Mortgage Trust Inc. Class A 359,980 6,919
  BankUnited Inc. 155,086 6,524
  CVB Financial Corp. 272,465 6,381
  Independent Bank Corp. 88,148 6,381
  Simmons First National Corp. Class A 260,550 6,373
  Virtu Financial Inc. Class A 170,118 6,347
  WaFd Inc. 168,509 6,164
* StoneX Group Inc. 58,705 6,091
  Bread Financial Holdings Inc. 103,075 6,064
  StepStone Group Inc. Class A 91,066 6,000
  First Financial Bancorp 198,123 5,851
* Enova International Inc. 54,765 5,778
  Piper Sandler Cos. 16,760 5,748
1 Arbor Realty Trust Inc. 391,119 5,738
  Provident Financial Services Inc. 270,741 5,718
  Pacific Premier Bancorp Inc. 199,991 5,680
  ServisFirst Bancshares Inc. 56,241 5,387
  Banner Corp. 71,515 5,334
  Seacoast Banking Corp. of Florida 175,388 5,255
  Moelis & Co. Class A 67,159 5,170
  Radian Group Inc. 140,473 5,027
  Independent Bank Group Inc. 74,857 5,009
  Trustmark Corp. 127,088 4,970
  Renasant Corp. 131,875 4,961
  Banc of California Inc. 285,778 4,924
* NCR Atleos Corp. 150,062 4,924
  NBT Bancorp Inc. 97,919 4,908
  Mercury General Corp. 55,182 4,357
  Stewart Information Services Corp. 57,447 4,314
  Walker & Dunlop Inc. 37,932 4,179
  Cathay General Bancorp 79,399 4,130
  FB Financial Corp. 72,643 4,101
  WSFS Financial Corp. 67,643 4,060
  First Bancorp 85,668 4,052
  Bank of Hawaii Corp. 49,478 3,908
  Northwest Bancshares Inc. 264,356 3,881
  Assured Guaranty Ltd. 41,069 3,831
  National Bank Holdings Corp. Class A 78,713 3,758
  PJT Partners Inc. Class A 21,235 3,554
  Horace Mann Educators Corp. 84,614 3,543
* Axos Financial Inc. 41,560 3,443
* Payoneer Global Inc. 315,156 3,438
  Veritex Holdings Inc. 112,858 3,432
  Hope Bancorp Inc. 250,661 3,414
  Park National Corp. 17,809 3,390
  BGC Group Inc. Class A 330,128 3,215
  Artisan Partners Asset Management Inc. Class A 63,844 3,115
  Stellar Bancorp Inc. 98,934 3,068
  Hilltop Holdings Inc. 95,773 3,031
  Cohen & Steers Inc. 28,367 2,969
  Employers Holdings Inc. 51,582 2,752
  Safety Insurance Group Inc. 30,813 2,645
  Dime Community Bancshares Inc. 73,099 2,623
  Ready Capital Corp. 349,601 2,577
  Navient Corp. 163,687 2,550
  PennyMac Mortgage Investment Trust 180,567 2,454
* Encore Capital Group Inc. 49,195 2,420
  Brookline Bancorp Inc. 184,411 2,322
* NMI Holdings Inc. Class A 57,939 2,317
  Franklin BSP Realty Trust Inc. 170,084 2,225
  First Commonwealth Financial Corp. 114,386 2,154
  Lakeland Financial Corp. 28,062 2,061
  Tompkins Financial Corp. 26,012 1,985
  BancFirst Corp. 15,633 1,974
* Trupanion Inc. 35,961 1,917
  Heritage Financial Corp. 71,624 1,894
  Eagle Bancorp Inc. 62,664 1,840
  Central Pacific Financial Corp. 56,184 1,793
          Shares Market
Value
($000)
* ProAssurance Corp. 106,220 1,776
* PRA Group Inc. 81,915 1,737
  Capitol Federal Financial Inc. 253,588 1,694
  Hanmi Financial Corp. 62,451 1,652
  City Holding Co. 12,206 1,603
  S&T Bancorp Inc. 37,326 1,597
  TrustCo Bank Corp. 39,473 1,470
  KKR Real Estate Finance Trust Inc. 120,961 1,407
* EZCORP Inc. Class A 107,460 1,375
  Berkshire Hills Bancorp Inc. 44,684 1,362
  United Fire Group Inc. 44,162 1,351
  AMERISAFE Inc. 22,553 1,331
  Southside Bancshares Inc. 36,035 1,266
  Virtus Investment Partners Inc. 5,118 1,264
  Westamerica Bancorp 21,605 1,236
* Green Dot Corp. Class A 111,503 1,145
  Apollo Commercial Real Estate Finance Inc. 100,388 929
  Brightsphere Investment Group Inc. 22,860 713
  ARMOUR Residential REIT Inc. 31,160 590
            428,400
Health Care (9.0%)
* Hims & Hers Health Inc. 393,637 12,683
  Organon & Co. 534,278 8,479
* ICU Medical Inc. 50,689 8,311
* QuidelOrtho Corp. 136,722 5,606
* Merit Medical Systems Inc. 49,539 5,147
  Premier Inc. Class A 217,453 4,980
  Select Medical Holdings Corp. 218,524 4,613
* Ligand Pharmaceuticals Inc. 37,927 4,607
* Prestige Consumer Healthcare Inc. 53,520 4,537
* Omnicell Inc. 95,445 4,447
* Fortrea Holdings Inc. 185,958 3,914
* Corcept Therapeutics Inc. 67,567 3,897
* Alkermes plc 123,098 3,572
* Krystal Biotech Inc. 17,851 3,524
  Patterson Cos. Inc. 162,852 3,500
* Integra LifeSciences Holdings Corp. 138,413 3,402
* Inspire Medical Systems Inc. 15,494 2,987
  Concentra Group Holdings Parent Inc. 125,357 2,735
* Addus HomeCare Corp. 21,568 2,649
* Pediatrix Medical Group Inc. 175,381 2,624
* Supernus Pharmaceuticals Inc. 68,662 2,511
  Embecta Corp. 119,750 2,494
* Inari Medical Inc. 44,710 2,321
* Tandem Diabetes Care Inc. 73,560 2,253
* AdaptHealth Corp. Class A 219,637 2,203
* Owens & Minor Inc. 153,649 2,070
* Avanos Medical Inc. 95,627 1,832
  National HealthCare Corp. 13,590 1,701
* Azenta Inc. 36,372 1,681
* Pacira BioSciences Inc. 95,781 1,620
* Xencor Inc. 61,652 1,578
* Myriad Genetics Inc. 95,661 1,556
* Harmony Biosciences Holdings Inc. 44,878 1,556
* Protagonist Therapeutics Inc. 35,473 1,554
* Vir Biotechnology Inc. 190,172 1,514
* Cytek Biosciences Inc. 221,209 1,444
  US Physical Therapy Inc. 14,085 1,391
  Mesa Laboratories Inc. 11,232 1,316
* STAAR Surgical Co. 39,814 1,159
* Schrodinger Inc. 50,564 1,141
* Innoviva Inc. 57,209 1,086
* Certara Inc. 95,409 1,070
* Artivion Inc. 35,974 1,062
* Arcus Biosciences Inc. 66,115 1,021
  Phibro Animal Health Corp. Class A 42,218 987
* AMN Healthcare Services Inc. 36,290 945
* BioLife Solutions Inc. 29,744 817
  HealthStream Inc. 23,278 771
          Shares Market
Value
($000)
* Fulgent Genetics Inc. 41,448 758
* REGENXBIO Inc. 53,283 529
* Ironwood Pharmaceuticals Inc. Class A 123,882 436
  Simulations Plus Inc. 13,538 430
            141,021
Industrials (17.1%)
  Robert Half Inc. 212,314 15,841
* Alaska Air Group Inc. 261,797 13,771
* Dycom Industries Inc. 60,377 10,938
  Air Lease Corp. Class A 169,761 8,641
* Resideo Technologies Inc. 303,821 8,258
* GEO Group Inc. 282,298 8,048
  ABM Industries Inc. 130,248 7,446
  Zurn Elkay Water Solutions Corp. 172,880 6,884
* Gates Industrial Corp. plc 309,650 6,862
* Everus Construction Group Inc. 105,788 6,735
  Hub Group Inc. Class A 127,774 6,598
* Sunrun Inc. 463,834 5,348
  Werner Enterprises Inc. 128,294 5,245
* CoreCivic Inc. 228,825 5,110
  Hillenbrand Inc. 145,660 4,957
* Hayward Holdings Inc. 294,645 4,762
* RXO Inc. 153,905 4,640
  Kennametal Inc. 161,596 4,638
* Masterbrand Inc. 263,660 4,561
* OPENLANE Inc. 225,456 4,554
  Enpro Inc. 23,935 4,526
  Arcosa Inc. 41,516 4,510
  Barnes Group Inc. 94,807 4,441
  Granite Construction Inc. 44,433 4,415
* SkyWest Inc. 38,284 4,393
  Greenbrier Cos. Inc. 64,579 4,391
  Rush Enterprises Inc. Class A 70,608 4,374
* Mercury Systems Inc. 104,778 4,310
* JetBlue Airways Corp. 619,321 3,697
  UniFirst Corp. 18,407 3,697
  MillerKnoll Inc. 144,989 3,645
  Korn Ferry 46,006 3,604
  John Bean Technologies Corp. 26,423 3,330
* DNOW Inc. 220,930 3,325
  Schneider National Inc. Class B 97,612 3,281
  Trinity Industries Inc. 85,582 3,226
  Interface Inc. Class A 120,986 3,212
* Triumph Group Inc. 160,459 3,089
  Albany International Corp. Class A 33,688 2,793
  Pitney Bowes Inc. 324,148 2,613
  Allegiant Travel Co. 30,108 2,464
  Brady Corp. Class A 31,952 2,393
* NV5 Global Inc. 108,290 2,356
  Griffon Corp. 27,163 2,290
  HNI Corp. 39,164 2,219
  Deluxe Corp. 91,820 2,128
  Apogee Enterprises Inc. 25,038 2,108
  Heidrick & Struggles International Inc. 42,188 1,947
* DXP Enterprises Inc. 26,548 1,945
* Healthcare Services Group Inc. 152,374 1,880
  Astec Industries Inc. 47,347 1,828
  Wabash National Corp. 91,383 1,812
  Enerpac Tool Group Corp. Class A 37,202 1,795
  Vestis Corp. 111,624 1,795
  CSG Systems International Inc. 29,926 1,640
  Lindsay Corp. 11,529 1,531
* Forward Air Corp. 39,631 1,454
* AAR Corp. 20,470 1,423
* American Woodmark Corp. 14,237 1,292
* Hertz Global Holdings Inc. 253,675 1,248
* Enviri Corp. 166,353 1,231
* Vicor Corp. 22,466 1,195
  Marten Transport Ltd. 63,581 1,105
          Shares Market
Value
($000)
  Kelly Services Inc. Class A 67,002 982
  Quanex Building Products Corp. 30,362 904
* Proto Labs Inc. 18,421 759
* Titan International Inc. 101,564 743
  Matthews International Corp. Class A 22,588 681
* Sun Country Airlines Holdings Inc. 44,956 647
  Heartland Express Inc. 39,689 507
  National Presto Industries Inc. 5,837 465
  Insteel Industries Inc. 14,685 433
            265,909
Information Technology (8.5%)
* Sanmina Corp. 113,355 9,001
* DXC Technology Co. 375,226 8,443
* Itron Inc. 47,562 5,637
* Semtech Corp. 85,628 5,484
* Plexus Corp. 31,626 5,199
* TTM Technologies Inc. 211,464 5,155
* Viavi Solutions Inc. 460,434 4,577
* ACI Worldwide Inc. 80,383 4,567
* NCR Voyix Corp. 301,607 4,376
* Box Inc. Class A 117,784 4,133
  Benchmark Electronics Inc. 74,966 3,635
* Ultra Clean Holdings Inc. 93,545 3,595
* SiTime Corp. 16,335 3,469
  Advanced Energy Industries Inc. 29,721 3,419
* NetScout Systems Inc. 148,117 3,241
* Insight Enterprises Inc. 20,384 3,189
* Impinj Inc. 14,676 2,821
* Digi International Inc. 75,611 2,512
* Diodes Inc. 37,530 2,439
* ScanSource Inc. 47,197 2,379
* Ichor Holdings Ltd. 69,965 2,292
* DigitalOcean Holdings Inc. 59,161 2,253
  Xerox Holdings Corp. 240,444 2,198
* BlackLine Inc. 35,348 2,192
* Knowles Corp. 108,357 2,109
* Sprinklr Inc. Class A 249,967 2,060
* Alpha & Omega Semiconductor Ltd. 49,326 2,045
  Kulicke & Soffa Industries Inc. 41,896 2,029
* Calix Inc. 62,121 2,021
  PC Connection Inc. 25,678 1,864
* Extreme Networks Inc. 108,255 1,797
* ePlus Inc. 21,567 1,744
  Adeia Inc. 135,684 1,644
* Viasat Inc. 175,637 1,639
  Clear Secure Inc. Class A 61,285 1,586
  CTS Corp. 27,749 1,524
* Cohu Inc. 57,506 1,518
* Harmonic Inc. 111,109 1,424
  A10 Networks Inc. 81,276 1,386
* Wolfspeed Inc. 138,513 1,327
* Rogers Corp. 11,595 1,201
* Penguin Solutions Inc. 64,829 1,176
* SolarEdge Technologies Inc. 72,568 1,147
* Photronics Inc. 39,479 983
* MaxLinear Inc. Class A 60,208 911
* CEVA Inc. 27,883 829
  SolarWinds Corp. 61,700 824
* Corsair Gaming Inc. 92,087 677
* N-able Inc. 52,261 546
            132,217
Materials (4.1%)
  Sealed Air Corp. 181,239 6,633
  Sylvamo Corp. 71,457 6,595
  Balchem Corp. 29,620 5,347
  HB Fuller Co. 57,759 4,441
* O-I Glass Inc. 323,165 4,072
  Sensient Technologies Corp. 50,176 3,896
* Ingevity Corp. 75,382 3,661
          Shares Market
Value
($000)
  Stepan Co. 43,932 3,378
* MP Materials Corp. 152,410 3,211
  Minerals Technologies Inc. 33,398 2,724
  Kaiser Aluminum Corp. 33,093 2,690
* Century Aluminum Co. 107,878 2,463
  Innospec Inc. 19,167 2,273
  SunCoke Energy Inc. 174,628 2,176
  Quaker Chemical Corp. 13,765 2,171
  Arch Resources Inc. 11,644 2,002
  AdvanSix Inc. 55,513 1,803
  Mativ Holdings Inc. 113,074 1,487
  Worthington Steel Inc. 22,293 1,000
  Koppers Holdings Inc. 19,926 766
* Metallus Inc. 33,667 561
            63,350
Real Estate (9.1%)
  SL Green Realty Corp. 145,005 11,338
  Macerich Co. 489,679 10,386
* Cushman & Wakefield plc 475,527 7,276
  Highwoods Properties Inc. 219,901 7,138
  Douglas Emmett Inc. 347,231 6,722
  Essential Properties Realty Trust Inc. 174,604 5,954
  LXP Industrial Trust 610,450 5,708
  Acadia Realty Trust 218,532 5,649
1 Medical Properties Trust Inc. 1,245,153 5,466
  Phillips Edison & Co. Inc. 124,622 4,923
  Retail Opportunity Investments Corp. 264,506 4,602
  CareTrust REIT Inc. 129,039 3,844
  Pebblebrook Hotel Trust 250,172 3,465
  Four Corners Property Trust Inc. 107,796 3,203
  Outfront Media Inc. 165,929 3,188
  Elme Communities 182,879 3,098
  JBG SMITH Properties 179,780 3,072
  Global Net Lease Inc. 411,073 3,046
  Alexander & Baldwin Inc. 150,852 2,969
  Innovative Industrial Properties Inc. 26,505 2,890
  Kennedy-Wilson Holdings Inc. 245,456 2,842
  American Assets Trust Inc. 98,670 2,806
* Curbline Properties Corp. 103,795 2,518
  Easterly Government Properties Inc. Class A 201,255 2,479
  Urban Edge Properties 103,318 2,377
  Centerspace 31,787 2,305
  NexPoint Residential Trust Inc. 45,905 2,161
  Safehold Inc. 95,149 2,032
  Brandywine Realty Trust 358,097 2,005
  LTC Properties Inc. 51,482 1,987
  Getty Realty Corp. 59,001 1,940
  Veris Residential Inc. 100,736 1,838
  Uniti Group Inc. 243,317 1,438
  Xenia Hotels & Resorts Inc. 86,829 1,335
  Marcus & Millichap Inc. 29,412 1,224
  Hudson Pacific Properties Inc. 292,908 1,128
  Service Properties Trust 344,537 958
  Armada Hoffler Properties Inc. 80,204 886
  SITE Centers Corp. 51,879 805
  Summit Hotel Properties Inc. 109,824 723
  Whitestone REIT 46,241 681
  Universal Health Realty Income Trust 13,651 576
  Saul Centers Inc. 12,612 518
            141,499
Utilities (2.8%)
  MDU Resources Group Inc. 422,977 8,477
  Avista Corp. 163,302 6,318
  Clearway Energy Inc. Class C 196,599 5,798
  California Water Service Group 73,301 3,752
  MGE Energy Inc. 33,823 3,527
  Northwest Natural Holding Co. 80,290 3,518
  Chesapeake Utilities Corp. 25,641 3,378
  American States Water Co. 36,582 3,121
          Shares Market
Value
($000)
  SJW Group 35,286 1,966
  Middlesex Water Co. 19,996 1,308
  Clearway Energy Inc. Class A 45,274 1,259
  Unitil Corp. 18,505 1,111
            43,533
Total Common Stocks (Cost $1,322,812) 1,553,720
      Coupon      
Temporary Cash Investments (0.7%)
Money Market Fund (0.7%)
2,3 Vanguard Market Liquidity Fund (Cost $11,269) 4.651%   112,714 11,270
Total Investments (100.5%) (Cost $1,334,081)   1,564,990
Other Assets and Liabilities—Net (-0.5%)   (7,840)
Net Assets (100%)   1,557,150
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 $10,698,000.
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 $11,855,000 was received for securities on loan, of which $11,261,000 is held in Vanguard Market Liquidity Fund and $594,000 is held in cash.
  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 December 2024 25 3,056 79
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 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 valuation designee to represent fair value and subject to oversight by the board of trustees. 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, 2024, 100% of the market value of the fund's investments and derivatives was determined based on Level 1 inputs.