Vanguard S&P 500 Growth Index Fund
Schedule of Investments (unaudited)
As of May 31, 2020
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
Shares | Market Value ($000) | |||||
Common Stocks (100.0%) | ||||||
Communication Services (13.1%) | ||||||
* | Facebook Inc. Class A | 586,403 | 131,993 | |||
* | Alphabet Inc. Class A | 73,022 | 104,679 | |||
* | Alphabet Inc. Class C | 72,823 | 104,058 | |||
* | Netflix Inc. | 106,788 | 44,822 | |||
Walt Disney Co. | 267,896 | 31,424 | ||||
Comcast Corp. Class A | 619,392 | 24,528 | ||||
* | Charter Communications Inc. Class A | 38,196 | 20,779 | |||
* | Electronic Arts Inc. | 37,714 | 4,634 | |||
* | Take-Two Interactive Software Inc. | 27,587 | 3,757 | |||
* | Live Nation Entertainment Inc. | 22,973 | 1,129 | |||
471,803 | ||||||
Consumer Discretionary (14.4%) | ||||||
* | Amazon.com Inc. | 101,482 | 247,857 | |||
Home Depot Inc. | 188,758 | 46,903 | ||||
Starbucks Corp. | 287,723 | 22,440 | ||||
NIKE Inc. Class B | 203,377 | 20,049 | ||||
* | Booking Holdings Inc. | 10,197 | 16,717 | |||
Lowe's Cos. Inc. | 123,219 | 16,062 | ||||
TJX Cos. Inc. | 295,389 | 15,585 | ||||
McDonald's Corp. | 80,712 | 15,038 | ||||
Dollar General Corp. | 62,053 | 11,884 | ||||
Target Corp. | 79,041 | 9,669 | ||||
Ross Stores Inc. | 88,163 | 8,548 | ||||
eBay Inc. | 186,374 | 8,487 | ||||
* | O'Reilly Automotive Inc. | 18,439 | 7,694 | |||
* | AutoZone Inc. | 5,805 | 6,663 | |||
Yum! Brands Inc. | 73,721 | 6,615 | ||||
* | Chipotle Mexican Grill Inc. Class A | 6,234 | 6,258 | |||
Marriott International Inc. Class A | 66,134 | 5,853 | ||||
Hilton Worldwide Holdings Inc. | 68,770 | 5,454 | ||||
DR Horton Inc. | 81,727 | 4,520 | ||||
Domino's Pizza Inc. | 9,413 | 3,632 | ||||
* | CarMax Inc. | 40,072 | 3,528 | |||
Tiffany & Co. | 26,311 | 3,371 | ||||
Garmin Ltd. | 35,212 | 3,175 | ||||
* | NVR Inc. | 846 | 2,726 | |||
VF Corp. | 42,307 | 2,373 | ||||
Las Vegas Sands Corp. | 46,952 | 2,251 | ||||
PulteGroup Inc. | 62,081 | 2,109 | ||||
Wynn Resorts Ltd. | 23,528 | 1,959 | ||||
* | Ulta Beauty Inc. | 7,665 | 1,870 |
Shares | Market Value ($000) | |||||
Tractor Supply Co. | 14,121 | 1,723 | ||||
MGM Resorts International | 76,265 | 1,310 | ||||
Darden Restaurants Inc. | 14,567 | 1,120 | ||||
* | LKQ Corp. | 38,837 | 1,066 | |||
Leggett & Platt Inc. | 21,191 | 648 | ||||
515,157 | ||||||
Consumer Staples (4.6%) | ||||||
Procter & Gamble Co. | 352,435 | 40,854 | ||||
PepsiCo Inc. | 163,060 | 21,451 | ||||
Costco Wholesale Corp. | 63,499 | 19,588 | ||||
Coca-Cola Co. | 375,907 | 17,547 | ||||
Philip Morris International Inc. | 166,845 | 12,240 | ||||
Estee Lauder Cos. Inc. Class A | 54,237 | 10,710 | ||||
Altria Group Inc. | 177,560 | 6,934 | ||||
Colgate-Palmolive Co. | 93,995 | 6,799 | ||||
Kimberly-Clark Corp. | 40,937 | 5,790 | ||||
* | Monster Beverage Corp. | 62,335 | 4,482 | |||
Hershey Co. | 24,209 | 3,285 | ||||
Sysco Corp. | 55,955 | 3,086 | ||||
Brown-Forman Corp. Class B | 44,407 | 2,928 | ||||
McCormick & Co. Inc. (Non-Voting) | 15,355 | 2,690 | ||||
Church & Dwight Co. Inc. | 32,304 | 2,425 | ||||
Tyson Foods Inc. Class A | 34,526 | 2,121 | ||||
Lamb Weston Holdings Inc. | 19,498 | 1,171 | ||||
Campbell Soup Co. | 18,127 | 924 | ||||
Coty Inc. Class A | 33,879 | 123 | ||||
165,148 | ||||||
Energy (0.7%) | ||||||
ConocoPhillips | 267,387 | 11,278 | ||||
Phillips 66 | 54,136 | 4,237 | ||||
EOG Resources Inc. | 70,867 | 3,612 | ||||
Hess Corp. | 63,098 | 2,995 | ||||
Pioneer Natural Resources Co. | 25,012 | 2,291 | ||||
Cabot Oil & Gas Corp. | 62,797 | 1,246 | ||||
Apache Corp. | 57,068 | 616 | ||||
National Oilwell Varco Inc. | 29,166 | 364 | ||||
26,639 | ||||||
Financials (4.7%) | ||||||
JPMorgan Chase & Co. | 366,815 | 35,695 | ||||
S&P Global Inc. | 59,536 | 19,350 | ||||
Moody's Corp. | 39,572 | 10,582 | ||||
BlackRock Inc. | 18,928 | 10,006 | ||||
American Express Co. | 98,118 | 9,328 | ||||
CME Group Inc. | 44,543 | 8,134 | ||||
Marsh & McLennan Cos. Inc. | 75,033 | 7,947 | ||||
Charles Schwab Corp. | 203,409 | 7,304 | ||||
Intercontinental Exchange Inc. | 74,645 | 7,259 | ||||
Aon plc Class A | 35,951 | 7,081 | ||||
MSCI Inc. Class A | 20,644 | 6,789 | ||||
Progressive Corp. | 86,920 | 6,752 | ||||
T. Rowe Price Group Inc. | 42,146 | 5,095 | ||||
MarketAxess Holdings Inc. | 9,245 | 4,702 | ||||
Willis Towers Watson plc | 15,044 | 3,052 | ||||
Cboe Global Markets Inc. | 27,020 | 2,877 | ||||
Ameriprise Financial Inc. | 20,071 | 2,811 | ||||
Synchrony Financial | 137,587 | 2,803 | ||||
Discover Financial Services | 47,379 | 2,251 |
Shares | Market Value ($000) | |||||
Arthur J Gallagher & Co. | 23,141 | 2,182 | ||||
First Republic Bank | 20,120 | 2,176 | ||||
* | SVB Financial Group | 8,017 | 1,722 | |||
Nasdaq Inc. | 13,147 | 1,557 | ||||
Cincinnati Financial Corp. | 16,975 | 1,001 | ||||
168,456 | ||||||
Health Care (10.9%) | ||||||
Johnson & Johnson | 269,347 | 40,065 | ||||
Thermo Fisher Scientific Inc. | 97,705 | 34,118 | ||||
Merck & Co. Inc. | 341,168 | 27,539 | ||||
Abbott Laboratories | 249,743 | 23,706 | ||||
AbbVie Inc. | 227,692 | 21,100 | ||||
Amgen Inc. | 85,439 | 19,625 | ||||
Bristol-Myers Squibb Co. | 314,086 | 18,757 | ||||
* | Vertex Pharmaceuticals Inc. | 62,673 | 18,047 | |||
Eli Lilly & Co. | 113,255 | 17,322 | ||||
Danaher Corp. | 98,148 | 16,352 | ||||
* | Intuitive Surgical Inc. | 28,164 | 16,336 | |||
Zoetis Inc. Class A | 116,084 | 16,181 | ||||
* | Edwards Lifesciences Corp. | 50,835 | 11,424 | |||
Stryker Corp. | 51,793 | 10,137 | ||||
* | Regeneron Pharmaceuticals Inc. | 16,454 | 10,083 | |||
* | DexCom Inc. | 22,213 | 8,403 | |||
* | Illumina Inc. | 21,497 | 7,805 | |||
* | Boston Scientific Corp. | 200,435 | 7,615 | |||
* | IDEXX Laboratories Inc. | 20,905 | 6,457 | |||
ResMed Inc. | 35,046 | 5,636 | ||||
Baxter International Inc. | 55,997 | 5,040 | ||||
* | IQVIA Holdings Inc. | 30,347 | 4,537 | |||
* | Incyte Corp. | 43,573 | 4,441 | |||
* | Align Technology Inc. | 17,480 | 4,293 | |||
Teleflex Inc. | 11,283 | 4,094 | ||||
West Pharmaceutical Services Inc. | 18,015 | 3,892 | ||||
Agilent Technologies Inc. | 42,999 | 3,790 | ||||
* | Alexion Pharmaceuticals Inc. | 31,278 | 3,750 | |||
Cerner Corp. | 48,242 | 3,517 | ||||
* | Mettler-Toledo International Inc. | 3,742 | 2,975 | |||
Cooper Cos. Inc. | 6,892 | 2,185 | ||||
* | Waters Corp. | 9,732 | 1,945 | |||
* | Hologic Inc. | 35,245 | 1,868 | |||
STERIS plc | 11,149 | 1,850 | ||||
PerkinElmer Inc. | 15,395 | 1,547 | ||||
* | Varian Medical Systems Inc. | 12,207 | 1,482 | |||
* | ABIOMED Inc. | 6,257 | 1,401 | |||
DENTSPLY SIRONA Inc. | 28,651 | 1,333 | ||||
390,648 | ||||||
Industrials (7.2%) | ||||||
Lockheed Martin Corp. | 60,472 | 23,490 | ||||
Union Pacific Corp. | 104,842 | 17,808 | ||||
Northrop Grumman Corp. | 38,173 | 12,796 | ||||
Raytheon Technologies Corp. | 189,610 | 12,234 | ||||
Honeywell International Inc. | 80,112 | 11,684 | ||||
L3Harris Technologies Inc. | 53,882 | 10,747 | ||||
Roper Technologies Inc. | 25,339 | 9,978 | ||||
Caterpillar Inc. | 79,467 | 9,546 | ||||
Boeing Co. | 57,332 | 8,362 | ||||
United Parcel Service Inc. Class B | 76,860 | 7,664 |
Shares | Market Value ($000) | |||||
Illinois Tool Works Inc. | 43,482 | 7,499 | ||||
Deere & Co. | 45,275 | 6,887 | ||||
CSX Corp. | 94,756 | 6,783 | ||||
PACCAR Inc. | 84,294 | 6,226 | ||||
Norfolk Southern Corp. | 34,314 | 6,118 | ||||
Waste Management Inc. | 55,177 | 5,890 | ||||
TransDigm Group Inc. | 12,135 | 5,155 | ||||
AMETEK Inc. | 55,709 | 5,109 | ||||
Cintas Corp. | 20,436 | 5,067 | ||||
IHS Markit Ltd. | 71,344 | 4,956 | ||||
Emerson Electric Co. | 80,169 | 4,892 | ||||
Verisk Analytics Inc. Class A | 27,563 | 4,760 | ||||
* | Copart Inc. | 49,859 | 4,457 | |||
Fastenal Co. | 97,845 | 4,037 | ||||
Old Dominion Freight Line Inc. | 23,341 | 3,993 | ||||
Cummins Inc. | 23,525 | 3,990 | ||||
Kansas City Southern | 24,152 | 3,635 | ||||
Rockwell Automation Inc. | 16,049 | 3,469 | ||||
Trane Technologies plc | 36,203 | 3,266 | ||||
Masco Corp. | 69,236 | 3,230 | ||||
Parker-Hannifin Corp. | 17,221 | 3,099 | ||||
Otis Worldwide Corp. | 52,285 | 2,753 | ||||
Equifax Inc. | 17,705 | 2,719 | ||||
* | United Rentals Inc. | 18,315 | 2,544 | |||
Allegion plc | 22,642 | 2,257 | ||||
* | Carrier Global Corp. | 104,910 | 2,147 | |||
Fortune Brands Home & Security Inc. | 33,896 | 2,066 | ||||
Dover Corp. | 20,884 | 2,031 | ||||
Republic Services Inc. Class A | 23,620 | 2,019 | ||||
* | Ingersoll Rand Inc. | 61,544 | 1,736 | |||
Xylem Inc. | 25,896 | 1,718 | ||||
IDEX Corp. | 10,528 | 1,678 | ||||
Expeditors International of Washington Inc. | 21,560 | 1,646 | ||||
JB Hunt Transport Services Inc. | 12,207 | 1,461 | ||||
Huntington Ingalls Industries Inc. | 5,871 | 1,174 | ||||
Rollins Inc. | 16,032 | 670 | ||||
Howmet Aerospace Inc. | 47,202 | 617 | ||||
Quanta Services Inc. | 15,630 | 577 | ||||
256,640 | ||||||
Information Technology (38.8%) | ||||||
Microsoft Corp. | 1,858,879 | 340,640 | ||||
Apple Inc. | 1,017,747 | 323,583 | ||||
Visa Inc. Class A | 417,157 | 81,446 | ||||
Mastercard Inc. Class A | 216,355 | 65,099 | ||||
NVIDIA Corp. | 149,125 | 52,942 | ||||
* | Adobe Inc. | 117,948 | 45,599 | |||
* | PayPal Holdings Inc. | 286,116 | 44,351 | |||
Intel Corp. | 604,161 | 38,020 | ||||
* | salesforce.com Inc. | 216,132 | 37,778 | |||
Broadcom Inc. | 96,643 | 28,149 | ||||
QUALCOMM Inc. | 278,182 | 22,499 | ||||
Accenture plc Class A | 97,467 | 19,651 | ||||
Intuit Inc. | 63,415 | 18,411 | ||||
* | ServiceNow Inc. | 45,944 | 17,823 | |||
Oracle Corp. | 316,645 | 17,026 | ||||
Texas Instruments Inc. | 141,176 | 16,763 | ||||
* | Advanced Micro Devices Inc. | 285,063 | 15,336 | |||
* | Fiserv Inc. | 139,106 | 14,852 |
Shares | Market Value ($000) | |||||
* | Micron Technology Inc. | 269,807 | 12,926 | |||
Applied Materials Inc. | 225,139 | 12,648 | ||||
* | Autodesk Inc. | 53,623 | 11,281 | |||
Analog Devices Inc. | 89,768 | 10,139 | ||||
Lam Research Corp. | 35,354 | 9,675 | ||||
Automatic Data Processing Inc. | 65,385 | 9,578 | ||||
Amphenol Corp. Class A | 72,273 | 6,979 | ||||
KLA Corp. | 38,455 | 6,767 | ||||
* | Synopsys Inc. | 36,640 | 6,629 | |||
Global Payments Inc. | 35,891 | 6,442 | ||||
* | Cadence Design Systems Inc. | 68,391 | 6,243 | |||
* | ANSYS Inc. | 20,857 | 5,903 | |||
Motorola Solutions Inc. | 41,757 | 5,651 | ||||
Microchip Technology Inc. | 58,243 | 5,593 | ||||
* | FleetCor Technologies Inc. | 21,153 | 5,157 | |||
* | Keysight Technologies Inc. | 45,719 | 4,944 | |||
* | Fortinet Inc. | 34,596 | 4,816 | |||
CDW Corp. | 35,021 | 3,884 | ||||
Paychex Inc. | 52,025 | 3,760 | ||||
* | Paycom Software Inc. | 11,956 | 3,554 | |||
Xilinx Inc. | 38,004 | 3,494 | ||||
* | Zebra Technologies Corp. Class A | 13,146 | 3,435 | |||
TE Connectivity Ltd. | 40,766 | 3,312 | ||||
* | Arista Networks Inc. | 13,224 | 3,087 | |||
* | Akamai Technologies Inc. | 28,361 | 3,001 | |||
* | Qorvo Inc. | 28,318 | 2,966 | |||
* | VeriSign Inc. | 13,348 | 2,923 | |||
Skyworks Solutions Inc. | 24,084 | 2,855 | ||||
* | Gartner Inc. | 21,798 | 2,653 | |||
Broadridge Financial Solutions Inc. | 19,565 | 2,369 | ||||
Citrix Systems Inc. | 14,575 | 2,159 | ||||
Western Union Co. | 102,188 | 2,046 | ||||
Corning Inc. | 88,077 | 2,007 | ||||
NortonLifeLock Inc. | 86,630 | 1,973 | ||||
Seagate Technology plc | 33,752 | 1,790 | ||||
Jack Henry & Associates Inc. | 9,748 | 1,763 | ||||
Leidos Holdings Inc. | 16,213 | 1,707 | ||||
Maxim Integrated Products Inc. | 28,990 | 1,672 | ||||
NetApp Inc. | 25,521 | 1,137 | ||||
FLIR Systems Inc. | 15,709 | 726 | ||||
Xerox Holdings Corp. | 45,187 | 718 | ||||
* | IPG Photonics Corp. | 4,309 | 670 | |||
1,391,000 | ||||||
Materials (2.2%) | ||||||
Linde plc | 92,905 | 18,798 | ||||
Air Products & Chemicals Inc. | 53,689 | 12,974 | ||||
Sherwin-Williams Co. | 20,021 | 11,889 | ||||
Dow Inc. | 180,715 | 6,976 | ||||
1 | Ecolab Inc. | 31,167 | 6,625 | |||
Ball Corp. | 56,605 | 4,034 | ||||
Vulcan Materials Co. | 32,258 | 3,494 | ||||
FMC Corp. | 31,590 | 3,109 | ||||
PPG Industries Inc. | 29,391 | 2,988 | ||||
Martin Marietta Materials Inc. | 15,230 | 2,926 | ||||
Celanese Corp. Class A | 29,458 | 2,649 | ||||
Freeport-McMoRan Inc. | 193,908 | 1,759 |
Shares | Market Value ($000) | |||||
Avery Dennison Corp. | 14,449 | 1,599 | ||||
79,820 | ||||||
Real Estate (2.7%) | ||||||
American Tower Corp. | 107,955 | 27,871 | ||||
Equinix Inc. | 21,489 | 14,991 | ||||
Crown Castle International Corp. | 58,774 | 10,119 | ||||
Prologis Inc. | 102,561 | 9,384 | ||||
SBA Communications Corp. Class A | 27,440 | 8,620 | ||||
* | CBRE Group Inc. Class A | 81,603 | 3,589 | |||
Public Storage | 16,112 | 3,267 | ||||
Alexandria Real Estate Equities Inc. | 16,145 | 2,482 | ||||
Realty Income Corp. | 37,590 | 2,079 | ||||
Essex Property Trust Inc. | 8,035 | 1,951 | ||||
Duke Realty Corp. | 52,769 | 1,819 | ||||
Extra Space Storage Inc. | 18,307 | 1,771 | ||||
Simon Property Group Inc. | 29,922 | 1,727 | ||||
Mid-America Apartment Communities Inc. | 12,493 | 1,454 | ||||
Healthpeak Properties Inc. | 56,441 | 1,391 | ||||
Boston Properties Inc. | 15,451 | 1,328 | ||||
UDR Inc. | 33,515 | 1,239 | ||||
Federal Realty Investment Trust | 7,213 | 576 | ||||
95,658 | ||||||
Utilities (0.7%) | ||||||
NextEra Energy Inc. | 63,130 | 16,133 | ||||
Sempra Energy | 30,917 | 3,905 | ||||
American Water Works Co. Inc. | 22,044 | 2,800 | ||||
NRG Energy Inc. | 61,321 | 2,211 | ||||
25,049 | ||||||
Total Common Stocks (Cost $2,715,670) | 3,586,018 | |||||
Coupon | ||||||
Temporary Cash Investments (0.0%) | ||||||
Money Market Fund (0.0%) | ||||||
2,3 | Vanguard Market Liquidity Fund | 0.307% | 13,228 | 1,323 | ||
Maturity Date | Face Amount ($000) | |||||
U.S. Government and Agency Obligations (0.0%) | ||||||
4 | United States Treasury Bill | 0.087% | 9/24/20 | 500 | 500 | |
Total Temporary Cash Investments (Cost $1,823) | 1,823 | |||||
Total Investments (100.0%) (Cost $2,717,493) | 3,587,841 | |||||
Other Assets and Liabilities-Net (0.0%)3 | (624) | |||||
Net Assets (100.0%) | 3,587,217 |
Cost is in $000. | |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,301,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $1,322,000 was received for securities on loan. |
4 | Securities with a value of $66,000 have been segregated as initial margin for open futures contracts. |
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 NASDAQ 100 Index | June 2020 | 1 | 191 | — |
E-mini S&P 500 Index | June 2020 | 6 | 913 | 21 |
21 |
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. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.
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 assets pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. 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. 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 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, 2020, based on the inputs used to value them:
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 3,586,018 | — | — | 3,586,018 |
Temporary Cash Investments | 1,323 | 500 | — | 1,823 |
Total | 3,587,341 | 500 | — | 3,587,841 |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 5 | — | — | 5 |
1 | Represents variation margin on the last day of the reporting period. |