Shares | Market Value ($000) | |||||
Common Stocks (98.7%) | ||||||
Australia (4.1%) | ||||||
Rio Tinto Ltd. | 246,695 | 22,843 | ||||
ANZ Group Holdings Ltd. | 1,118,885 | 19,769 | ||||
Goodman Group | 962,904 | 16,578 | ||||
59,190 | ||||||
Brazil (4.3%) | ||||||
Vale SA | 1,319,400 | 20,898 | ||||
Telefonica Brasil SA | 1,380,800 | 15,167 | ||||
BB Seguridade Participacoes SA | 2,004,000 | 13,918 | ||||
* | MercadoLibre Inc. | 8,001 | 12,574 | |||
62,557 | ||||||
Canada (6.1%) | ||||||
* | Shopify Inc. Class A | 289,764 | 22,559 | |||
Barrick Gold Corp. | 953,089 | 17,220 | ||||
Intact Financial Corp. | 94,120 | 14,480 | ||||
Cenovus Energy Inc. | 850,940 | 14,180 | ||||
1 | Nutrien Ltd. | 248,931 | 14,024 | |||
Enerplus Corp. | 431,493 | 6,614 | ||||
89,077 | ||||||
China (7.3%) | ||||||
Tencent Holdings Ltd. | 681,100 | 25,715 | ||||
* | Trip.com Group Ltd. | 411,400 | 14,769 | |||
KE Holdings Inc. Class A | 2,577,600 | 14,083 | ||||
BYD Co. Ltd. Class H | 498,500 | 13,751 | ||||
Tsingtao Brewery Co. Ltd. Class A | 1,121,871 | 11,825 | ||||
PICC Property & Casualty Co. Ltd. Class H | 8,824,000 | 10,501 | ||||
ANTA Sports Products Ltd. | 872,200 | 8,477 | ||||
2 | WuXi AppTec Co. Ltd. Class H | 634,400 | 6,463 | |||
105,584 | ||||||
Denmark (2.8%) | ||||||
Novo Nordisk A/S Class B | 255,324 | 26,460 | ||||
* | Genmab A/S | 45,366 | 14,465 | |||
40,925 | ||||||
Finland (0.9%) | ||||||
Nokia OYJ | 3,796,173 | 12,929 | ||||
France (3.9%) | ||||||
Engie SA | 1,469,066 | 25,879 | ||||
Capgemini SE | 73,270 | 15,313 | ||||
BNP Paribas SA | 219,966 | 15,276 | ||||
56,468 |
Shares | Market Value ($000) | |||||
Germany (8.4%) | ||||||
Siemens AG (Registered) | 142,904 | 26,810 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) | 49,206 | 20,411 | ||||
adidas AG | 96,333 | 19,575 | ||||
RWE AG | 383,488 | 17,454 | ||||
Deutsche Post AG | 275,105 | 13,617 | ||||
Commerzbank AG | 1,057,989 | 12,575 | ||||
Beiersdorf AG | 80,196 | 12,010 | ||||
122,452 | ||||||
Hong Kong (1.1%) | ||||||
AIA Group Ltd. | 1,842,200 | 16,032 | ||||
India (5.7%) | ||||||
Axis Bank Ltd. | 1,358,114 | 17,974 | ||||
Larsen & Toubro Ltd. | 372,391 | 15,770 | ||||
Mahindra & Mahindra Ltd. | 599,749 | 12,456 | ||||
DLF Ltd. | 1,426,278 | 12,438 | ||||
Bajaj Auto Ltd. | 150,797 | 12,314 | ||||
ICICI Bank Ltd. | 951,130 | 11,366 | ||||
82,318 | ||||||
Indonesia (0.9%) | ||||||
Bank Negara Indonesia Persero Tbk. PT | 39,355,580 | 13,733 | ||||
Ireland (0.9%) | ||||||
AIB Group plc | 2,965,319 | 12,700 | ||||
Italy (0.8%) | ||||||
FinecoBank Banca Fineco SpA | 815,592 | 12,270 | ||||
Japan (13.8%) | ||||||
Recruit Holdings Co. Ltd. | 578,500 | 24,188 | ||||
Sony Group Corp. | 253,500 | 23,989 | ||||
Tokyo Electron Ltd. | 117,700 | 20,920 | ||||
ITOCHU Corp. | 483,400 | 19,694 | ||||
Mitsui Fudosan Co. Ltd. | 704,200 | 17,217 | ||||
KDDI Corp. | 514,400 | 16,316 | ||||
Fujitsu Ltd. | 102,500 | 15,426 | ||||
Otsuka Holdings Co. Ltd. | 403,500 | 15,090 | ||||
Daito Trust Construction Co. Ltd. | 129,200 | 14,954 | ||||
Nomura Holdings Inc. | 2,707,352 | 12,193 | ||||
Panasonic Holdings Corp. | 1,171,700 | 11,538 | ||||
Isuzu Motors Ltd. | 717,000 | 9,192 | ||||
200,717 | ||||||
Mexico (1.2%) | ||||||
Wal-Mart de Mexico SAB de CV | 4,171,000 | 17,579 | ||||
Netherlands (6.2%) | ||||||
ASML Holding NV | 44,463 | 33,565 | ||||
* | AerCap Holdings NV | 270,123 | 20,075 | |||
Coca-Cola Europacific Partners plc | 271,828 | 18,142 | ||||
Koninklijke Ahold Delhaize NV | 620,898 | 17,864 | ||||
89,646 | ||||||
Norway (0.8%) | ||||||
Equinor ASA | 388,171 | 12,302 | ||||
Other (2.0%) | ||||||
3 | Vanguard FTSE Developed Markets ETF | 600,417 | 28,760 | |||
Philippines (0.8%) | ||||||
BDO Unibank Inc. | 4,924,600 | 11,602 |
Shares | Market Value ($000) | |||||
Russia (0.0%) | ||||||
*,4 | Magnit PJSC | 31,141 | — | |||
Saudi Arabia (0.9%) | ||||||
Saudi Awwal Bank | 1,240,718 | 12,432 | ||||
Singapore (1.1%) | ||||||
DBS Group Holdings Ltd. | 615,800 | 15,573 | ||||
South Korea (3.4%) | ||||||
Samsung Electronics Co. Ltd. | 635,592 | 38,578 | ||||
SK Telecom Co. Ltd. | 261,328 | 10,153 | ||||
48,731 | ||||||
Spain (3.2%) | ||||||
Industria de Diseno Textil SA | 472,379 | 20,612 | ||||
Banco Bilbao Vizcaya Argentaria SA | 1,833,491 | 16,711 | ||||
Repsol SA | 639,486 | 9,486 | ||||
46,809 | ||||||
Sweden (2.8%) | ||||||
Volvo AB Class B | 975,317 | 25,378 | ||||
* | Spotify Technology SA | 82,923 | 15,582 | |||
40,960 | ||||||
Switzerland (2.1%) | ||||||
Novartis AG (Registered) | 299,940 | 30,297 | ||||
Taiwan (2.8%) | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 2,116,000 | 40,567 | ||||
United Kingdom (10.4%) | ||||||
Shell plc | 924,927 | 30,277 | ||||
AstraZeneca plc | 189,876 | 25,612 | ||||
Glencore plc | 3,675,611 | 22,094 | ||||
BAE Systems plc | 1,490,139 | 21,092 | ||||
Standard Chartered plc | 1,793,568 | 15,220 | ||||
* | International Consolidated Airlines Group SA | 7,345,926 | 14,494 | |||
Haleon plc | 3,098,414 | 12,686 | ||||
* | Rolls-Royce Holdings plc | 2,687,137 | 10,250 | |||
151,725 | ||||||
Total Common Stocks (Cost $1,295,980) | 1,433,935 |
Coupon | Shares | Market Value ($000) | ||||
Temporary Cash Investments (2.0%) | ||||||
Money Market Fund (2.0%) | ||||||
5,6 | Vanguard Market Liquidity Fund (Cost $29,267) | 5.435% | 292,717 | 29,266 | ||
Total Investments (100.7%) (Cost $1,325,247) | 1,463,201 | |||||
Other Assets and Liabilities—Net (-0.7%) | (9,678) | |||||
Net Assets (100%) | 1,453,523 |
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 $11,267,000. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2023, the aggregate value was $6,463,000, representing 0.4% of net assets. |
3 | Considered an affiliated company of the fund as the issuer is another member of The Vanguard Group. |
4 | Security value determined using significant unobservable inputs. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
6 | Collateral of $12,000,000 was received for securities on loan. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks—North and South America | 119,230 | 49,983 | — | 169,213 |
Common Stocks—Other | 82,559 | 1,182,163 | — | 1,264,722 |
Temporary Cash Investments | 29,266 | — | — | 29,266 |
Total | 231,055 | 1,232,146 | — | 1,463,201 |
Current Period Transactions | ||||||||
Sep. 30, 2023 Market Value ($000) | Purchases at Cost ($000) | Proceeds from Securities Sold ($000) | Realized Net Gain (Loss) ($000) | Change in Unrealized App. (Dep.) ($000) | Income ($000) | Capital Gain Distributions Received ($000) | Dec. 31, 2023 Market Value ($000) | |
Vanguard FTSE Developed Markets ETF | 9,262 | 58,621 | 41,465 | 821 | 1,521 | 256 | — | 28,760 |
Vanguard Market Liquidity Fund | 27,230 | NA1 | NA1 | — | (2) | 204 | — | 29,266 |
Total | 36,492 | 58,621 | 41,465 | 821 | 1,519 | 460 | — | 58,026 |
1 | Not applicable—purchases and sales are for temporary cash investment purposes. |