Vanguard® U.S. Quality Factor ETF
Schedule of Investments (unaudited)
As of August 31, 2021
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%) | |||
Basic Materials (3.0%) | |||
Freeport-McMoRan Inc. | 19,787 | 720 | |
Ecolab Inc. | 1,685 | 380 | |
Fastenal Co. | 6,256 | 349 | |
* | Alcoa Corp. | 4,968 | 221 |
Tredegar Corp. | 14,837 | 197 | |
Reliance Steel & Aluminum Co. | 1,167 | 175 | |
Avery Dennison Corp. | 476 | 107 | |
* | Clearwater Paper Corp. | 3,050 | 99 |
Boise Cascade Co. | 1,586 | 92 | |
UFP Industries Inc. | 1,152 | 87 | |
Balchem Corp. | 544 | 76 | |
Innospec Inc. | 777 | 73 | |
Compass Minerals International Inc. | 1,057 | 71 | |
* | Orion Engineered Carbons SA | 3,706 | 66 |
* | Alto Ingredients Inc. | 12,323 | 63 |
Verso Corp. Class A | 3,057 | 58 | |
Mueller Industries Inc. | 1,218 | 54 | |
* | TimkenSteel Corp. | 3,932 | 54 |
Steel Dynamics Inc. | 773 | 52 | |
Southern Copper Corp. | 798 | 50 | |
Commercial Metals Co. | 1,505 | 49 | |
Materion Corp. | 575 | 42 | |
Sensient Technologies Corp. | 453 | 39 | |
CF Industries Holdings Inc. | 824 | 37 | |
Worthington Industries Inc. | 618 | 36 | |
* | Univar Solutions Inc. | 1,437 | 34 |
* | GCP Applied Technologies Inc. | 1,314 | 31 |
* | RBC Bearings Inc. | 126 | 29 |
Olin Corp. | 550 | 27 | |
International Paper Co. | 390 | 24 | |
3,392 | |||
Consumer Discretionary (23.0%) | |||
Target Corp. | 4,173 | 1,031 | |
Costco Wholesale Corp. | 2,248 | 1,024 | |
NIKE Inc. Class B | 5,632 | 928 | |
Walmart Inc. | 6,192 | 917 | |
* | O'Reilly Automotive Inc. | 1,464 | 870 |
Lowe's Cos. Inc. | 3,853 | 786 | |
Estee Lauder Cos. Inc. Class A | 2,303 | 784 | |
* | Lululemon Athletica Inc. | 1,904 | 762 |
TJX Cos. Inc. | 8,036 | 584 | |
Ross Stores Inc. | 4,493 | 532 |
Shares | Market Value ($000) | ||
* | Amazon.com Inc. | 131 | 455 |
* | Deckers Outdoor Corp. | 1,058 | 443 |
Best Buy Co. Inc. | 3,595 | 419 | |
Williams-Sonoma Inc. | 1,884 | 352 | |
* | YETI Holdings Inc. | 3,389 | 337 |
Activision Blizzard Inc. | 4,084 | 336 | |
Dick's Sporting Goods Inc. | 2,387 | 336 | |
* | PROG Holdings Inc. | 5,921 | 280 |
* | Ulta Beauty Inc. | 719 | 278 |
Polaris Inc. | 1,929 | 231 | |
Genuine Parts Co. | 1,689 | 206 | |
Signet Jewelers Ltd. | 2,398 | 190 | |
Hibbett Inc. | 1,947 | 186 | |
Johnson Outdoors Inc. Class A | 1,622 | 186 | |
* | NVR Inc. | 36 | 186 |
New York Times Co. Class A | 3,651 | 185 | |
Carter's Inc. | 1,769 | 181 | |
Kontoor Brands Inc. | 3,285 | 177 | |
* | Lumber Liquidators Holdings Inc. | 8,459 | 176 |
* | Perdoceo Education Corp. | 16,056 | 176 |
1 | Big 5 Sporting Goods Corp. | 6,257 | 174 |
Columbia Sportswear Co. | 1,682 | 172 | |
* | Turtle Beach Corp. | 5,895 | 167 |
* | AutoNation Inc. | 1,521 | 166 |
* | Citi Trends Inc. | 1,926 | 166 |
* | MarineMax Inc. | 3,411 | 166 |
Shoe Carnival Inc. | 4,348 | 166 | |
* | Macy's Inc. | 7,175 | 161 |
* | Liquidity Services Inc. | 6,524 | 159 |
* | Nautilus Inc. | 13,886 | 158 |
Tempur Sealy International Inc. | 3,506 | 157 | |
* | Etsy Inc. | 721 | 156 |
Acushnet Holdings Corp. | 3,092 | 154 | |
Advance Auto Parts Inc. | 758 | 154 | |
Dillard's Inc. Class A | 810 | 154 | |
Garmin Ltd. | 885 | 154 | |
Gentex Corp. | 4,975 | 153 | |
Rollins Inc. | 3,856 | 150 | |
* | Under Armour Inc. Class A | 6,489 | 150 |
* | Children's Place Inc. | 1,708 | 148 |
Buckle Inc. | 3,756 | 145 | |
* | iRobot Corp. | 1,769 | 144 |
Movado Group Inc. | 3,933 | 142 | |
* | XPEL Inc. | 1,840 | 140 |
* | BJ's Wholesale Club Holdings Inc. | 2,348 | 133 |
Haverty Furniture Cos. Inc. | 3,706 | 132 | |
OneWater Marine Inc. Class A | 3,264 | 132 | |
Hanesbrands Inc. | 6,915 | 129 | |
* | Lovesac Co. | 2,288 | 129 |
* | Revolve Group Inc. | 2,238 | 129 |
Ethan Allen Interiors Inc. | 5,316 | 128 | |
* | Mattel Inc. | 6,011 | 128 |
* | Zumiez Inc. | 3,181 | 128 |
* | Kirkland's Inc. | 6,625 | 127 |
La-Z-Boy Inc. | 3,557 | 125 | |
* | Bed Bath & Beyond Inc. | 4,503 | 124 |
* | Sonos Inc. | 3,126 | 124 |
Standard Motor Products Inc. | 2,811 | 121 |
Shares | Market Value ($000) | ||
* | Lazydays Holdings Inc. | 4,914 | 121 |
* | Crocs Inc. | 802 | 115 |
HNI Corp. | 3,047 | 115 | |
* | Abercrombie & Fitch Co. Class A | 3,189 | 114 |
Pool Corp. | 231 | 114 | |
Tractor Supply Co. | 582 | 113 | |
* | American Public Education Inc. | 4,267 | 112 |
Qurate Retail Inc. Series A | 10,179 | 112 | |
* | ODP Corp. | 2,374 | 112 |
Foot Locker Inc. | 1,939 | 110 | |
Kohl's Corp. | 1,922 | 110 | |
Herman Miller Inc. | 2,585 | 109 | |
Global Industrial Co. | 2,820 | 109 | |
* | Helen of Troy Ltd. | 452 | 108 |
* | Ollie's Bargain Outlet Holdings Inc. | 1,465 | 106 |
* | Duluth Holdings Inc. Class B | 6,771 | 105 |
Rent-A-Center Inc. | 1,661 | 105 | |
H&R Block Inc. | 4,013 | 103 | |
* | Genesco Inc. | 1,668 | 103 |
* | Master Craft Boat Holdings Inc. | 4,112 | 103 |
* | Gannett Co. Inc. | 16,190 | 103 |
American Eagle Outfitters Inc. | 3,341 | 102 | |
* | Skyline Champion Corp. | 1,633 | 102 |
* | Take-Two Interactive Software Inc. | 624 | 101 |
* | Capri Holdings Ltd. | 1,791 | 101 |
* | GoPro Inc. Class A | 10,002 | 100 |
* | Fossil Group Inc. | 7,212 | 97 |
* | Gentherm Inc. | 1,133 | 97 |
Inter Parfums Inc. | 1,343 | 97 | |
Whirlpool Corp. | 438 | 97 | |
* | Vera Bradley Inc. | 8,395 | 96 |
Gap Inc. | 3,375 | 90 | |
* | Cavco Industries Inc. | 346 | 88 |
Wolverine World Wide Inc. | 2,421 | 87 | |
* | Purple Innovation Inc. Class A | 3,535 | 86 |
eBay Inc. | 1,099 | 84 | |
* | Funko Inc. Class A | 4,195 | 84 |
* | Container Store Group Inc. | 7,042 | 82 |
Group 1 Automotive Inc. | 493 | 82 | |
Steven Madden Ltd. | 2,014 | 82 | |
PulteGroup Inc. | 1,526 | 82 | |
* | Conn's Inc. | 3,275 | 81 |
Oxford Industries Inc. | 894 | 81 | |
* | Asbury Automotive Group Inc. | 423 | 79 |
* | LKQ Corp. | 1,474 | 78 |
Tilly's Inc. Class A | 4,965 | 77 | |
* | Lands' End Inc. | 2,232 | 76 |
* | Adtalem Global Education Inc. | 1,972 | 73 |
News Corp. Class A | 3,071 | 69 | |
Omnicom Group Inc. | 941 | 69 | |
* | elf Beauty Inc. | 2,168 | 67 |
Matthews International Corp. Class A | 1,807 | 67 | |
Sonic Automotive Inc. Class A | 1,318 | 67 | |
* | Dorman Products Inc. | 702 | 66 |
Hasbro Inc. | 669 | 66 | |
* | Malibu Boats Inc. Class A | 921 | 66 |
Caleres Inc. | 2,617 | 64 | |
* | Tenneco Inc. Class A | 3,944 | 62 |
Shares | Market Value ($000) | ||
World Wrestling Entertainment Inc. Class A | 1,185 | 62 | |
* | 1-800-Flowers.com Inc. Class A | 1,893 | 60 |
John Wiley & Sons Inc. Class A | 1,003 | 58 | |
* | Under Armour Inc. Class C | 2,837 | 57 |
* | Cars.com Inc. | 4,423 | 56 |
Big Lots Inc. | 1,119 | 54 | |
Cato Corp. Class A | 2,945 | 51 | |
Rush Enterprises Inc. Class A | 1,150 | 51 | |
* | Party City Holdco Inc. | 7,329 | 50 |
PriceSmart Inc. | 589 | 50 | |
* | SiteOne Landscape Supply Inc. | 246 | 49 |
* | Copart Inc. | 328 | 47 |
* | Universal Electronics Inc. | 890 | 45 |
Interpublic Group of Cos. Inc. | 1,171 | 44 | |
* | Tapestry Inc. | 1,099 | 44 |
* | PVH Corp. | 402 | 42 |
Murphy USA Inc. | 263 | 41 | |
Nielsen Holdings plc | 1,915 | 41 | |
Aaron's Co. Inc. | 1,530 | 41 | |
* | Burlington Stores Inc. | 125 | 37 |
* | American Axle & Manufacturing Holdings Inc. | 4,079 | 36 |
Interface Inc. Class A | 2,440 | 35 | |
Ralph Lauren Corp. Class A | 294 | 34 | |
Camping World Holdings Inc. Class A | 823 | 33 | |
* | AMC Networks Inc. Class A | 658 | 31 |
* | CarParts.com Inc. | 1,765 | 31 |
* | Fluent Inc. | 10,907 | 30 |
* | Dollar Tree Inc. | 295 | 27 |
VF Corp. | 355 | 27 | |
Century Communities Inc. | 332 | 23 | |
* | Lakeland Industries Inc. | 943 | 23 |
BorgWarner Inc. (XNYS) | 516 | 22 | |
25,758 | |||
Consumer Staples (4.9%) | |||
Colgate-Palmolive Co. | 10,154 | 792 | |
Sysco Corp. | 5,466 | 435 | |
Altria Group Inc. | 8,338 | 419 | |
* | Monster Beverage Corp. | 3,587 | 350 |
Procter & Gamble Co. | 2,301 | 328 | |
Kroger Co. | 5,681 | 262 | |
Flowers Foods Inc. | 10,037 | 242 | |
Casey's General Stores Inc. | 867 | 177 | |
Albertsons Cos. Inc. Class A | 5,613 | 170 | |
PetMed Express Inc. | 5,545 | 153 | |
Lancaster Colony Corp. | 842 | 149 | |
* | USANA Health Sciences Inc. | 1,498 | 145 |
Ingles Markets Inc. Class A | 2,074 | 141 | |
National Beverage Corp. | 2,963 | 138 | |
Medifast Inc. | 585 | 133 | |
WD-40 Co. | 510 | 122 | |
SpartanNash Co. | 5,618 | 121 | |
* | Boston Beer Co. Inc. Class A | 200 | 114 |
Weis Markets Inc. | 1,840 | 105 | |
* | United Natural Foods Inc. | 2,717 | 100 |
* | Veru Inc. | 10,411 | 93 |
Hershey Co. | 509 | 90 | |
AmerisourceBergen Corp. Class A | 689 | 84 | |
Nu Skin Enterprises Inc. Class A | 1,602 | 81 |
Shares | Market Value ($000) | ||
Tyson Foods Inc. Class A | 995 | 78 | |
John B Sanfilippo & Son Inc. | 846 | 72 | |
J & J Snack Foods Corp. | 377 | 62 | |
Calavo Growers Inc. | 1,138 | 53 | |
McKesson Corp. | 255 | 52 | |
* | Vital Farms Inc. | 2,843 | 51 |
Coca-Cola Consolidated Inc. | 121 | 49 | |
* | Rite Aid Corp. | 2,703 | 48 |
* | Sprouts Farmers Market Inc. | 1,439 | 36 |
MGP Ingredients Inc. | 498 | 33 | |
* | Hain Celestial Group Inc. | 661 | 25 |
5,503 | |||
Energy (1.1%) | |||
Texas Pacific Land Corp. | 239 | 325 | |
EOG Resources Inc. | 2,215 | 150 | |
* | Enphase Energy Inc. | 784 | 136 |
SM Energy Co. | 4,287 | 82 | |
* | NOW Inc. | 8,978 | 69 |
* | ProPetro Holding Corp. | 8,832 | 68 |
Magnolia Oil & Gas Corp. Class A | 2,864 | 45 | |
Bonanza Creek Energy Inc. | 1,059 | 41 | |
Cactus Inc. Class A | 1,102 | 41 | |
* | TETRA Technologies Inc. | 12,213 | 40 |
* | FTS International Inc. Class A | 1,557 | 35 |
* | DMC Global Inc. | 854 | 34 |
World Fuel Services Corp. | 1,055 | 34 | |
* | MRC Global Inc. | 3,959 | 32 |
* | RPC Inc. | 7,961 | 30 |
* | Kosmos Energy Ltd. | 11,340 | 27 |
* | Frank's International NV | 8,866 | 26 |
* | Renewable Energy Group Inc. | 493 | 24 |
1,239 | |||
Financials (16.1%) | |||
Aon plc Class A | 3,983 | 1,143 | |
Moody's Corp. | 1,703 | 648 | |
* | Berkshire Hathaway Inc. Class B | 2,231 | 638 |
S&P Global Inc. | 1,344 | 596 | |
Allstate Corp. | 3,560 | 482 | |
Voya Financial Inc. | 6,524 | 424 | |
* | Nicolet Bankshares Inc. | 4,331 | 331 |
Evercore Inc. Class A | 2,252 | 314 | |
JPMorgan Chase & Co. | 1,871 | 299 | |
Affiliated Managers Group Inc. | 1,722 | 293 | |
Hilltop Holdings Inc. | 8,046 | 269 | |
Fidelity National Financial Inc. | 5,498 | 268 | |
First BanCorp. (XNYS) | 20,915 | 266 | |
* | Credit Acceptance Corp. | 449 | 260 |
Federated Hermes Inc. | 7,623 | 258 | |
SLM Corp. | 13,078 | 245 | |
First Citizens BancShares Inc. Class A | 268 | 241 | |
HomeStreet Inc. | 5,119 | 209 | |
Bank of NT Butterfield & Son Ltd. | 6,232 | 208 | |
Primerica Inc. | 1,302 | 199 | |
PennyMac Financial Services Inc. | 2,930 | 195 | |
Brightsphere Investment Group Inc. | 7,162 | 195 | |
Popular Inc. | 2,499 | 190 | |
SEI Investments Co. | 3,020 | 190 |
Shares | Market Value ($000) | ||
Meta Financial Group Inc. | 3,831 | 188 | |
WSFS Financial Corp. | 4,035 | 183 | |
American Financial Group Inc. | 1,276 | 176 | |
City Holding Co. | 2,221 | 173 | |
Ameriprise Financial Inc. | 614 | 168 | |
Navient Corp. | 7,240 | 168 | |
Assured Guaranty Ltd. | 3,368 | 168 | |
* | Mr Cooper Group Inc. | 4,236 | 165 |
Virtu Financial Inc. Class A | 6,707 | 164 | |
FactSet Research Systems Inc. | 424 | 161 | |
* | Encore Capital Group Inc. | 3,233 | 159 |
LPL Financial Holdings Inc. | 1,043 | 154 | |
* | Bancorp Inc. | 6,170 | 152 |
Employers Holdings Inc. | 3,568 | 147 | |
First American Financial Corp. | 2,059 | 145 | |
Cincinnati Financial Corp. | 1,161 | 143 | |
* | Enstar Group Ltd. | 621 | 143 |
* | World Acceptance Corp. | 746 | 142 |
Washington Federal Inc. | 3,996 | 133 | |
Associated Banc-Corp. | 6,344 | 131 | |
Discover Financial Services | 1,016 | 130 | |
Cboe Global Markets Inc. | 1,004 | 127 | |
Equitable Holdings Inc. | 4,100 | 127 | |
* | Triumph Bancorp Inc. | 1,530 | 126 |
Jefferies Financial Group Inc. | 3,379 | 125 | |
Hanover Insurance Group Inc. | 877 | 124 | |
MarketAxess Holdings Inc. | 256 | 122 | |
CNO Financial Group Inc. | 4,928 | 121 | |
Marsh & McLennan Cos. Inc. | 772 | 121 | |
Mercury General Corp. | 2,025 | 121 | |
Washington Trust Bancorp Inc. | 2,281 | 121 | |
* | Axos Financial Inc. | 2,435 | 118 |
First Merchants Corp. | 2,862 | 118 | |
OneMain Holdings Inc. | 1,957 | 113 | |
Lazard Ltd. Class A | 2,374 | 113 | |
State Street Corp. | 1,181 | 110 | |
Lakeland Financial Corp. | 1,648 | 109 | |
Ally Financial Inc. | 2,023 | 107 | |
Veritex Holdings Inc. | 2,929 | 105 | |
1st Source Corp. | 2,219 | 104 | |
T Rowe Price Group Inc. | 465 | 104 | |
* | Columbia Financial Inc. | 5,590 | 101 |
First Financial Bancorp | 4,110 | 97 | |
Oppenheimer Holdings Inc. Class A | 2,073 | 97 | |
Harborone Bancorp Inc. | 6,761 | 96 | |
TriCo Bancshares | 2,419 | 96 | |
First Commonwealth Financial Corp. | 6,924 | 94 | |
FirstCash Inc. | 1,099 | 94 | |
WisdomTree Investments Inc. | 14,698 | 93 | |
First BanCorp. | 2,177 | 91 | |
Park National Corp. | 712 | 83 | |
Fifth Third Bancorp | 2,074 | 81 | |
PJT Partners Inc. Class A | 1,027 | 81 | |
Hope Bancorp Inc. | 5,762 | 79 | |
Southside Bancshares Inc. | 2,011 | 76 | |
Comerica Inc. | 1,018 | 75 | |
Eagle Bancorp Inc. | 1,292 | 75 | |
Synovus Financial Corp. | 1,686 | 73 |
Shares | Market Value ($000) | ||
First Hawaiian Inc. | 2,539 | 71 | |
AMERISAFE Inc. | 1,211 | 70 | |
Great Western Bancorp Inc. | 2,225 | 69 | |
Walker & Dunlop Inc. | 620 | 69 | |
First Foundation Inc. | 2,818 | 68 | |
Cathay General Bancorp | 1,697 | 67 | |
Curo Group Holdings Corp. | 4,038 | 66 | |
OFG Bancorp | 2,786 | 66 | |
Heritage Financial Corp. | 2,538 | 65 | |
B Riley Financial Inc. | 980 | 64 | |
Ameris Bancorp | 1,287 | 63 | |
Kearny Financial Corp. | 4,909 | 62 | |
UMB Financial Corp. | 650 | 60 | |
BankUnited Inc. | 1,378 | 58 | |
* | Brighthouse Financial Inc. | 1,179 | 58 |
Commerce Bancshares Inc. | 819 | 58 | |
First Interstate BancSystem Inc. Class A | 1,326 | 58 | |
BancorpSouth Bank | 1,909 | 56 | |
BOK Financial Corp. | 625 | 55 | |
Federal Agricultural Mortgage Corp. Class C | 564 | 55 | |
Northern Trust Corp. | 455 | 54 | |
Bank of New York Mellon Corp. | 961 | 53 | |
Radian Group Inc. | 2,227 | 53 | |
Janus Henderson Group plc | 1,173 | 51 | |
* | Customers Bancorp Inc. | 1,217 | 50 |
Universal Insurance Holdings Inc. | 3,523 | 50 | |
Artisan Partners Asset Management Inc. Class A | 949 | 49 | |
Zions Bancorp NA | 823 | 48 | |
* | SVB Financial Group | 83 | 46 |
U.S. Bancorp | 780 | 45 | |
Wintrust Financial Corp. | 605 | 45 | |
Northfield Bancorp Inc. | 2,627 | 44 | |
Central Pacific Financial Corp. | 1,702 | 43 | |
* | Markel Corp. | 34 | 43 |
Atlantic Union Bankshares Corp. | 1,134 | 42 | |
Cohen & Steers Inc. | 477 | 42 | |
Diamond Hill Investment Group Inc. | 226 | 41 | |
Simmons First National Corp. Class A | 1,340 | 39 | |
Tompkins Financial Corp. | 491 | 39 | |
Westamerica BanCorp. | 657 | 37 | |
* | Enova International Inc. | 1,087 | 36 |
Hanmi Financial Corp. | 1,845 | 36 | |
Capitol Federal Financial Inc. | 2,683 | 31 | |
Columbia Banking System Inc. | 855 | 31 | |
Morningstar Inc. | 114 | 31 | |
OceanFirst Financial Corp. | 1,422 | 30 | |
BancFirst Corp. | 505 | 29 | |
Fulton Financial Corp. | 1,767 | 28 | |
NBT Bancorp Inc. | 713 | 26 | |
Greenhill & Co. Inc. | 1,665 | 25 | |
Independent Bank Group Inc. | 353 | 25 | |
* | Focus Financial Partners Inc. Class A | 471 | 24 |
TrustCo Bank Corp. NY | 737 | 24 | |
Home BancShares Inc. | 1,050 | 23 | |
Premier Financial Corp. | 770 | 23 | |
KeyCorp. | 1,107 | 22 | |
18,088 |
Shares | Market Value ($000) | ||
Health Care (13.8%) | |||
* | Moderna Inc. | 3,100 | 1,168 |
* | Align Technology Inc. | 1,612 | 1,143 |
* | Veeva Systems Inc. Class A | 2,602 | 864 |
Johnson & Johnson | 4,112 | 712 | |
Eli Lilly & Co. | 2,536 | 655 | |
* | Edwards Lifesciences Corp. | 4,698 | 550 |
Amgen Inc. | 2,367 | 534 | |
Abbott Laboratories | 3,614 | 457 | |
Cerner Corp. | 5,147 | 393 | |
Humana Inc. | 924 | 375 | |
AbbVie Inc. | 3,055 | 369 | |
ResMed Inc. | 1,212 | 352 | |
* | Vertex Pharmaceuticals Inc. | 1,691 | 339 |
* | Seagen Inc. | 2,007 | 336 |
* | IDEXX Laboratories Inc. | 493 | 332 |
Agilent Technologies Inc. | 1,767 | 310 | |
Bruker Corp. | 3,451 | 305 | |
* | Quidel Corp. | 2,045 | 264 |
* | Sage Therapeutics Inc. | 5,477 | 253 |
* | Molina Healthcare Inc. | 804 | 216 |
* | Amedisys Inc. | 1,140 | 209 |
Cardinal Health Inc. | 3,713 | 195 | |
Chemed Corp. | 370 | 176 | |
* | CorVel Corp. | 1,005 | 166 |
* | STAAR Surgical Co. | 1,059 | 164 |
* | Incyte Corp. | 2,015 | 154 |
* | LHC Group Inc. | 813 | 152 |
Healthcare Services Group Inc. | 5,677 | 148 | |
* | Emergent BioSolutions Inc. | 2,249 | 142 |
Hill-Rom Holdings Inc. | 974 | 142 | |
* | Eagle Pharmaceuticals Inc. | 2,642 | 141 |
*,1 | Retractable Technologies Inc. | 10,887 | 140 |
Owens & Minor Inc. | 3,707 | 138 | |
West Pharmaceutical Services Inc. | 306 | 138 | |
* | ABIOMED Inc. | 356 | 130 |
Anthem Inc. | 324 | 121 | |
* | Catalyst Pharmaceuticals Inc. | 21,307 | 117 |
* | Corcept Therapeutics Inc. | 5,341 | 114 |
* | Medpace Holdings Inc. | 626 | 114 |
* | Masimo Corp. | 410 | 111 |
* | Henry Schein Inc. | 1,474 | 111 |
Quest Diagnostics Inc. | 717 | 110 | |
* | Puma Biotechnology Inc. | 14,454 | 109 |
* | Fulgent Genetics Inc. | 1,157 | 106 |
* | Vanda Pharmaceuticals Inc. | 6,298 | 105 |
* | Hologic Inc. | 1,300 | 103 |
Patterson Cos. Inc. | 3,197 | 98 | |
* | Globus Medical Inc. Class A | 1,175 | 96 |
* | Collegium Pharmaceutical Inc. | 4,594 | 94 |
* | ModivCare Inc. | 476 | 94 |
* | Computer Programs and Systems Inc. | 2,547 | 91 |
* | ChromaDex Corp. | 10,347 | 88 |
* | Myriad Genetics Inc. | 2,418 | 86 |
* | Natus Medical Inc. | 2,991 | 79 |
* | NextGen Healthcare Inc. | 5,203 | 79 |
* | Orthofix Medical Inc. | 1,834 | 78 |
* | Tivity Health Inc. | 3,325 | 77 |
Shares | Market Value ($000) | ||
* | ICU Medical Inc. | 354 | 71 |
* | BioDelivery Sciences International Inc. | 16,994 | 66 |
Atrion Corp. | 87 | 60 | |
* | Amphastar Pharmaceuticals Inc. | 3,003 | 59 |
* | Surmodics Inc. | 966 | 58 |
* | Meridian Bioscience Inc. | 2,751 | 56 |
* | Akebia Therapeutics Inc. | 18,242 | 54 |
* | Anika Therapeutics Inc. | 1,243 | 54 |
* | AngioDynamics Inc. | 1,802 | 51 |
* | DaVita Inc. | 380 | 50 |
* | Alphatec Holdings Inc. | 3,154 | 46 |
* | Ovid therapeutics Inc. | 11,234 | 40 |
* | Avid Bioservices Inc. | 1,537 | 37 |
* | Inogen Inc. | 630 | 37 |
* | Cutera Inc. | 730 | 36 |
* | Biogen Inc. | 103 | 35 |
* | Joint Corp. | 296 | 30 |
* | United Therapeutics Corp. | 138 | 30 |
Phibro Animal Health Corp. Class A | 1,151 | 28 | |
* | Merit Medical Systems Inc. | 361 | 26 |
* | Antares Pharma Inc. | 6,371 | 25 |
* | Viemed Healthcare Inc. | 3,576 | 23 |
LeMaitre Vascular Inc. | 395 | 22 | |
15,437 | |||
Industrials (17.4%) | |||
Accenture plc Class A | 2,375 | 799 | |
Sherwin-Williams Co. | 2,566 | 779 | |
3M Co. | 3,322 | 647 | |
American Express Co. | 3,465 | 575 | |
Automatic Data Processing Inc. | 2,580 | 539 | |
Toro Co. | 3,379 | 371 | |
Robert Half International Inc. | 3,419 | 354 | |
Louisiana-Pacific Corp. | 5,311 | 337 | |
Lincoln Electric Holdings Inc. | 2,238 | 312 | |
Jack Henry & Associates Inc. | 1,758 | 310 | |
Paychex Inc. | 2,417 | 277 | |
Brunswick Corp. | 2,803 | 272 | |
Donaldson Co. Inc. | 3,817 | 259 | |
Watsco Inc. | 901 | 251 | |
MSC Industrial Direct Co. Inc. Class A | 2,841 | 239 | |
* | MYR Group Inc. | 2,255 | 235 |
Illinois Tool Works Inc. | 1,002 | 233 | |
A O Smith Corp. | 3,205 | 233 | |
Graco Inc. | 2,923 | 229 | |
EMCOR Group Inc. | 1,854 | 225 | |
Landstar System Inc. | 1,265 | 213 | |
Simpson Manufacturing Co. Inc. | 1,884 | 213 | |
Emerson Electric Co. | 1,992 | 210 | |
Heartland Express Inc. | 12,255 | 206 | |
* | Donnelley Financial Solutions Inc. | 5,594 | 187 |
* | Veritiv Corp. | 1,905 | 171 |
AGCO Corp. | 1,222 | 168 | |
WW Grainger Inc. | 375 | 163 | |
JB Hunt Transport Services Inc. | 919 | 163 | |
Kforce Inc. | 2,781 | 162 | |
Acuity Brands Inc. | 838 | 155 | |
* | TriNet Group Inc. | 1,672 | 154 |
* | Generac Holdings Inc. | 342 | 149 |
Shares | Market Value ($000) | ||
* | Mettler-Toledo International Inc. | 96 | 149 |
* | Zebra Technologies Corp. Class A | 253 | 149 |
Expeditors International of Washington Inc. | 1,182 | 147 | |
Pentair plc | 1,859 | 143 | |
Insteel Industries Inc. | 3,813 | 141 | |
AAON Inc. | 2,064 | 141 | |
* | Fair Isaac Corp. | 289 | 133 |
CH Robinson Worldwide Inc. | 1,463 | 132 | |
Astec Industries Inc. | 2,138 | 131 | |
* | Franklin Covey Co. | 3,007 | 131 |
Rockwell Automation Inc. | 404 | 131 | |
Watts Water Technologies Inc. Class A | 749 | 129 | |
Ennis Inc. | 6,581 | 128 | |
* | Keysight Technologies Inc. | 716 | 128 |
* | Saia Inc. | 525 | 126 |
Trane Technologies plc | 635 | 126 | |
Insperity Inc. | 1,112 | 123 | |
* | Trex Co. Inc. | 1,122 | 123 |
* | Napco Security Technologies Inc. | 3,088 | 121 |
CSW Industrials Inc. | 901 | 120 | |
Synchrony Financial | 2,353 | 117 | |
Tennant Co. | 1,572 | 116 | |
ManpowerGroup Inc. | 924 | 112 | |
Snap-on Inc. | 488 | 110 | |
* | Modine Manufacturing Co. | 8,723 | 109 |
Marten Transport Ltd. | 6,849 | 107 | |
Advanced Drainage Systems Inc. | 923 | 105 | |
Exponent Inc. | 894 | 105 | |
Apogee Enterprises Inc. | 2,411 | 104 | |
* | Energy Recovery Inc. | 5,073 | 104 |
MSA Safety Inc. | 629 | 102 | |
John Bean Technologies Corp. | 687 | 100 | |
Myers Industries Inc. | 4,350 | 99 | |
* | TrueBlue Inc. | 3,575 | 98 |
Brady Corp. Class A | 1,821 | 97 | |
Cintas Corp. | 246 | 97 | |
* | Echo Global Logistics Inc. | 2,957 | 97 |
Badger Meter Inc. | 901 | 96 | |
* | Conduent Inc. | 13,050 | 95 |
Quanex Building Products Corp. | 3,978 | 94 | |
Quanta Services Inc. | 918 | 94 | |
Nordson Corp. | 389 | 93 | |
Cognex Corp. | 1,000 | 89 | |
* | GMS Inc. | 1,804 | 89 |
* | Mohawk Industries Inc. | 449 | 89 |
RPM International Inc. | 1,084 | 89 | |
Schneider National Inc. Class B | 3,960 | 89 | |
Allegion plc | 620 | 89 | |
Xylem Inc. | 623 | 85 | |
* | Vicor Corp. | 672 | 83 |
Werner Enterprises Inc. | 1,770 | 83 | |
* | Cross Country Healthcare Inc. | 3,748 | 82 |
PPG Industries Inc. | 517 | 82 | |
Kadant Inc. | 381 | 80 | |
Franklin Electric Co. Inc. | 903 | 77 | |
H&E Equipment Services Inc. | 2,256 | 77 | |
Heidrick & Struggles International Inc. | 1,789 | 77 | |
Cummins Inc. | 317 | 75 |
Shares | Market Value ($000) | ||
Valmont Industries Inc. | 302 | 75 | |
* | MasTec Inc. | 786 | 72 |
McGrath RentCorp. | 1,027 | 72 | |
Sonoco Products Co. | 1,081 | 71 | |
* | IES Holdings Inc. | 1,418 | 69 |
Old Dominion Freight Line Inc. | 240 | 69 | |
* | ASGN Inc. | 613 | 69 |
Terex Corp. | 1,332 | 68 | |
ABM Industries Inc. | 1,381 | 68 | |
* | DXP Enterprises Inc. | 2,241 | 67 |
* | Waters Corp. | 162 | 67 |
Resources Connection Inc. | 4,193 | 66 | |
Oshkosh Corp. | 563 | 65 | |
* | TopBuild Corp. | 297 | 65 |
UniFirst Corp. | 285 | 65 | |
Hubbell Inc. Class B | 295 | 61 | |
Booz Allen Hamilton Holding Corp. Class A | 738 | 60 | |
* | Builders FirstSource Inc. | 1,117 | 60 |
Dover Corp. | 326 | 57 | |
Shyft Group Inc. | 1,306 | 57 | |
* | OSI Systems Inc. | 570 | 56 |
* | ShotSpotter Inc. | 1,400 | 56 |
Crane Co. | 544 | 55 | |
Alamo Group Inc. | 348 | 54 | |
Encore Wire Corp. | 638 | 54 | |
Ryder System Inc. | 675 | 54 | |
Comfort Systems USA Inc. | 680 | 52 | |
* | FARO Technologies Inc. | 760 | 52 |
ITT Inc. | 540 | 52 | |
AZZ Inc. | 928 | 50 | |
* | FTI Consulting Inc. | 361 | 50 |
Barrett Business Services Inc. | 621 | 48 | |
* | Dycom Industries Inc. | 640 | 48 |
Flowserve Corp. | 1,222 | 48 | |
* | NV5 Global Inc. | 456 | 48 |
Pitney Bowes Inc. | 6,288 | 47 | |
Douglas Dynamics Inc. | 1,127 | 45 | |
Hyster-Yale Materials Handling Inc. | 772 | 45 | |
Maximus Inc. | 521 | 45 | |
Applied Industrial Technologies Inc. | 493 | 44 | |
* | United Rentals Inc. | 126 | 44 |
Wabash National Corp. | 2,760 | 43 | |
* | AMN Healthcare Services Inc. | 380 | 43 |
* | Construction Partners Inc. Class A | 1,252 | 42 |
Packaging Corp. of America | 279 | 42 | |
Deluxe Corp. | 1,065 | 41 | |
* | Hub Group Inc. Class A | 590 | 41 |
Huntington Ingalls Industries Inc. | 201 | 41 | |
* | Sterling Construction Co. Inc. | 1,764 | 41 |
AptarGroup Inc. | 297 | 40 | |
CRA International Inc. | 432 | 40 | |
Hillenbrand Inc. | 852 | 40 | |
REV Group Inc. | 2,324 | 38 | |
* | Cornerstone Building Brands Inc. | 2,164 | 36 |
* | ExlService Holdings Inc. | 294 | 36 |
Regal Beloit Corp. | 243 | 36 | |
Littelfuse Inc. | 122 | 35 | |
Kelly Services Inc. Class A | 1,756 | 34 |
Shares | Market Value ($000) | ||
Mastercard Inc. Class A | 97 | 34 | |
* | Titan Machinery Inc. | 1,182 | 34 |
* | Axalta Coating Systems Ltd. | 1,095 | 33 |
Forward Air Corp. | 368 | 32 | |
* | Masonite International Corp. | 256 | 31 |
Owens Corning | 322 | 31 | |
ICF International Inc. | 324 | 30 | |
Enerpac Tool Group Corp. Class A | 1,185 | 30 | |
Fortune Brands Home & Security Inc. | 295 | 29 | |
* | O-I Glass Inc. | 1,929 | 29 |
SPX FLOW Inc. | 334 | 27 | |
MKS Instruments Inc. | 174 | 26 | |
* | Resideo Technologies Inc. | 797 | 26 |
Albany International Corp. Class A | 317 | 25 | |
* | JELD-WEN Holding Inc. | 910 | 25 |
Helios Technologies Inc. | 275 | 22 | |
* | Paysign Inc. | 2,116 | 5 |
* | BM Technologies Inc. (XASE) | 194 | 2 |
19,538 | |||
Real Estate (0.4%) | |||
Simon Property Group Inc. | 1,913 | 257 | |
Iron Mountain Inc. | 1,920 | 92 | |
Lamar Advertising Co. Class A | 526 | 60 | |
Empire State Realty Trust Inc. Class A | 3,644 | 37 | |
Urban Edge Properties | 1,520 | 29 | |
475 | |||
Technology (18.5%) | |||
* | Advanced Micro Devices Inc. | 8,882 | 983 |
Applied Materials Inc. | 7,255 | 980 | |
* | Zoom Video Communications Inc. Class A | 3,232 | 936 |
Texas Instruments Inc. | 4,174 | 797 | |
KLA Corp. | 2,237 | 761 | |
* | Cadence Design Systems Inc. | 4,528 | 740 |
Intel Corp. | 12,617 | 682 | |
* | Adobe Inc. | 939 | 623 |
* | Facebook Inc. Class A | 1,375 | 522 |
* | Synopsys Inc. | 1,445 | 480 |
* | Fortinet Inc. | 1,436 | 453 |
* | Manhattan Associates Inc. | 2,494 | 407 |
NetApp Inc. | 4,482 | 399 | |
International Business Machines Corp. | 2,806 | 394 | |
QUALCOMM Inc. | 2,680 | 393 | |
Apple Inc. | 2,287 | 347 | |
* | Alphabet Inc. Class A | 109 | 315 |
Intuit Inc. | 539 | 305 | |
* | Teradata Corp. | 5,176 | 283 |
* | Qualys Inc. | 2,161 | 254 |
Teradyne Inc. | 2,024 | 246 | |
NVIDIA Corp. | 1,076 | 241 | |
* | Atlassian Corp. plc Class A | 608 | 223 |
* | Digital Turbine Inc. | 3,715 | 217 |
* | Elastic NV | 1,362 | 217 |
* | EPAM Systems Inc. | 342 | 216 |
Lam Research Corp. | 348 | 210 | |
Monolithic Power Systems Inc. | 425 | 210 | |
TE Connectivity Ltd. | 1,401 | 210 | |
* | Dropbox Inc. Class A | 6,583 | 209 |
Shares | Market Value ($000) | ||
Microsoft Corp. | 691 | 209 | |
* | CommVault Systems Inc. | 2,451 | 198 |
Shutterstock Inc. | 1,621 | 187 | |
* | eGain Corp. | 15,321 | 180 |
* | Cirrus Logic Inc. | 2,139 | 179 |
* | Lattice Semiconductor Corp. | 2,858 | 178 |
* | A10 Networks Inc. | 12,014 | 167 |
* | Upwork Inc. | 3,737 | 167 |
* | Paycom Software Inc. | 336 | 164 |
Skyworks Solutions Inc. | 895 | 164 | |
* | Agilysys Inc. | 2,805 | 159 |
* | Anaplan Inc. | 2,594 | 156 |
* | Gartner Inc. | 505 | 156 |
* | VMware Inc. Class A | 1,032 | 154 |
Cognizant Technology Solutions Corp. Class A | 1,980 | 151 | |
Kulicke & Soffa Industries Inc. | 2,122 | 149 | |
* | F5 Networks Inc. | 662 | 135 |
* | Brightcove Inc. | 11,784 | 134 |
Dolby Laboratories Inc. Class A | 1,343 | 133 | |
Universal Display Corp. | 626 | 131 | |
* | TrueCar Inc. | 30,880 | 130 |
* | 3D Systems Corp. | 4,064 | 124 |
American Software Inc. Class A | 4,751 | 121 | |
* | Yandex NV Class A | 1,514 | 116 |
* | Aspen Technology Inc. | 876 | 113 |
Advanced Energy Industries Inc. | 1,213 | 109 | |
* | ChannelAdvisor Corp. | 4,062 | 104 |
* | Pinterest Inc. Class A | 1,822 | 101 |
SYNNEX Corp. | 793 | 101 | |
Citrix Systems Inc. | 919 | 95 | |
* | II-VI Inc. | 1,496 | 94 |
* | TechTarget Inc. | 1,101 | 93 |
Vertiv Holdings Co. Class A | 3,281 | 92 | |
* | Appfolio Inc. Class A | 770 | 91 |
* | Veritone Inc. | 4,328 | 90 |
* | CyberOptics Corp. | 2,106 | 89 |
* | Crowdstrike Holdings Inc. Class A | 313 | 88 |
* | Qorvo Inc. | 442 | 83 |
* | Cohu Inc. | 2,297 | 82 |
* | ScanSource Inc. | 2,190 | 78 |
* | SPS Commerce Inc. | 556 | 75 |
* | Yelp Inc. Class A | 1,914 | 74 |
* | ePlus Inc. | 666 | 72 |
CDW Corp. | 352 | 71 | |
CSG Systems International Inc. | 1,477 | 71 | |
* | Synaptics Inc. | 363 | 69 |
CMC Materials Inc. | 510 | 68 | |
* | Smith Micro Software Inc. | 13,437 | 67 |
* | OneSpan Inc. | 3,148 | 61 |
Power Integrations Inc. | 566 | 61 | |
* | Arrow Electronics Inc. | 496 | 60 |
* | Box Inc. Class A | 2,280 | 59 |
* | Concentrix Corp. | 331 | 57 |
Amkor Technology Inc. | 2,050 | 56 | |
* | Avaya Holdings Corp. | 2,776 | 56 |
* | Onto Innovation Inc. | 749 | 56 |
Jabil Inc. | 882 | 54 | |
* | Mimecast Ltd. | 764 | 53 |
Shares | Market Value ($000) | ||
* | Alpha & Omega Semiconductor Ltd. | 1,783 | 52 |
Avnet Inc. | 1,253 | 51 | |
* | Diodes Inc. | 522 | 51 |
* | Kopin Corp. | 8,706 | 51 |
* | IPG Photonics Corp. | 293 | 50 |
* | Rogers Corp. | 232 | 49 |
* | Perficient Inc. | 367 | 44 |
Simulations Plus Inc. | 987 | 44 | |
* | AXT Inc. | 4,535 | 42 |
* | Cargurus Inc. | 1,379 | 42 |
National Instruments Corp. | 999 | 42 | |
* | Blackbaud Inc. | 591 | 41 |
* | Alarm.com Holdings Inc. | 474 | 40 |
* | MACOM Technology Solutions Holdings Inc. Class H | 609 | 37 |
* | Mitek Systems Inc. | 1,640 | 37 |
PC Connection Inc. | 765 | 37 | |
* | Axcelis Technologies Inc. | 675 | 34 |
Hackett Group Inc. | 1,711 | 34 | |
* | SMART Global Holdings Inc. | 688 | 33 |
Brooks Automation Inc. | 378 | 32 | |
* | Altair Engineering Inc. Class A | 422 | 31 |
* | Semtech Corp. | 447 | 31 |
* | Sprout Social Inc. Class A | 253 | 31 |
* | Verint Systems Inc. | 662 | 30 |
* | Zix Corp. | 3,810 | 29 |
* | FormFactor Inc. | 714 | 28 |
* | Nutanix Inc. Class A | 727 | 27 |
CTS Corp. | 744 | 26 | |
* | NeoPhotonics Corp. | 2,755 | 26 |
* | Groupon Inc. Class A | 1,044 | 26 |
* | DXC Technology Co. | 693 | 25 |
* | Super Micro Computer Inc. | 668 | 24 |
20,815 | |||
Telecommunications (1.4%) | |||
Cisco Systems Inc. | 4,920 | 290 | |
* | Extreme Networks Inc. | 12,494 | 135 |
* | Cambium Networks Corp. | 3,600 | 135 |
* | IDT Corp. Class B | 3,061 | 133 |
* | Calix Inc. | 2,581 | 120 |
Ubiquiti Inc. | 342 | 111 | |
* | Clearfield Inc. | 2,421 | 110 |
* | Aviat Networks Inc. | 2,518 | 89 |
* | Ciena Corp. | 1,350 | 77 |
* | Viavi Solutions Inc. | 4,014 | 65 |
* | Ooma Inc. | 3,259 | 62 |
* | Arista Networks Inc. | 161 | 60 |
* | Digi International Inc. | 2,137 | 47 |
* | Consolidated Communications Holdings Inc. | 4,991 | 46 |
* | NETGEAR Inc. | 1,185 | 42 |
* | CommScope Holding Co. Inc. | 2,368 | 38 |
ADTRAN Inc. | 1,763 | 37 | |
* | Vonage Holdings Corp. | 1,842 | 26 |
1,623 | |||
Utilities (0.1%) | |||
* | Clean Harbors Inc. | 683 | 70 |
Total Common Stocks (Cost $85,033) | 111,938 |
Shares | Market Value ($000) | ||
Temporary Cash Investments (0.4%) | |||
Money Market Fund (0.4%) | |||
2,3 | Vanguard Market Liquidity Fund, 0.068% (Cost $440) | 4,396 | 439 |
Total Investments (100.1%) (Cost $85,473) | 112,377 | ||
Other Assets and Liabilities—Net (-0.1%) | (123) | ||
Net Assets (100%) | 112,254 | ||
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 $228,000. |
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 $236,000 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 | ||||
Micro E-mini S&P 500 Index | September 2021 | 12 | 271 | 13 |
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 objective of maintaining full exposure to the stock market while maintaining liquidity. The fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. 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 August 31, 2021, 100% of the market value of the fund’s investments and derivatives was determined based on Level 1 inputs.