Vanguard^® High Dividend Yield Index Fund

Schedule of Investments (unaudited)

As of January 31, 2026

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 (99.6%)
Basic Materials (2.2%)
	Newmont Corp.				4,423,109	496,936
	Air Products and Chemicals Inc.				894,218	243,674
	Fastenal Co.				4,621,698	200,397
	Nucor Corp.				924,635	164,326
	International Paper Co.				2,110,258	85,086
	Albemarle Corp.				473,179	80,738
	International Flavors & Fragrances Inc.				1,031,866	72,034
	Reliance Inc.				210,193	69,259
	Southern Copper Corp.				335,009	63,759
	CF Industries Holdings Inc.				649,454	60,549
	Avery Dennison Corp.				309,937	57,496
	LyondellBasell Industries NV Class A				1,031,836	50,560
*	Solstice Advanced Materials Inc.				639,470	39,500
	Mosaic Co.				1,268,567	34,886
	Eastman Chemical Co.				461,761	32,009
	Timken Co.				252,013	23,485
	Sensient Technologies Corp.				168,586	15,935
	Cabot Corp.				212,201	15,319
	NewMarket Corp.				22,587	15,151
	Avient Corp.				365,902	13,227
	Scotts Miracle-Gro Co.				175,579	11,276
	Ashland Inc.				181,751	11,116
	Westlake Corp.				134,668	10,682
	Olin Corp.				462,406	9,623
	Chemours Co.				597,717	8,960
	Innospec Inc.				99,343	8,118
	FMC Corp.				496,709	7,848
	Kaiser Aluminum Corp.				63,906	7,836
	Huntsman Corp.				657,640	7,116
	Sylvamo Corp.				137,655	6,737
	Worthington Steel Inc.				130,131	5,235
	Stepan Co.				85,054	4,900
						1,933,773
Consumer Discretionary (9.9%)
	Walmart Inc.				17,515,871	2,086,841
	Home Depot Inc.				4,008,404	1,501,508
	McDonald's Corp.				2,877,971	906,561
	Lowe's Cos. Inc.				2,256,316	602,572
	Starbucks Corp.				4,578,931	421,033
	NIKE Inc. Class B				4,657,755	287,896
	Ford Motor Co.				15,713,635	218,105
	Target Corp.				1,829,769	192,986
	Yum! Brands Inc.				1,122,127	174,491
	eBay Inc.				1,818,641	165,896
	Garmin Ltd.				655,965	132,269
	Dollar General Corp.				884,319	126,838
	Estee Lauder Cos. Inc. Class A				986,485	113,722
	Tractor Supply Co.				2,139,953	108,881
	Tapestry Inc.				832,561	105,660
	Omnicom Group Inc.				1,288,432	99,261
	Williams-Sonoma Inc.				476,760	97,569
	Darden Restaurants Inc.				470,481	93,790
	Lennar Corp. Class A				849,239	92,864
	Southwest Airlines Co.				1,868,598	88,796
	Genuine Parts Co.				558,458	77,620
	Las Vegas Sands Corp.				1,234,451	65,093
	Fox Corp. Class A				830,145	60,418
	Ralph Lauren Corp.				152,917	54,042
	Dick's Sporting Goods Inc.				254,966	51,503
	Best Buy Co. Inc.				777,626	50,623
	Hasbro Inc.				532,544	47,562
	BorgWarner Inc.				853,255	40,453

					Shares	Market Value ($000)
	Fox Corp. Class B				600,596	39,381
	Autoliv Inc.				305,296	37,014
	LKQ Corp.				1,034,550	33,985
	VF Corp.				1,411,791	27,657
	Gap Inc.				911,112	25,493
	Lear Corp.				207,537	24,301
	Nexstar Media Group Inc. Class A				113,605	24,127
	Thor Industries Inc.				203,882	22,808
	Wyndham Hotels & Resorts Inc.				297,886	21,683
	Macy's Inc.				1,074,765	21,517
	Gentex Corp.				885,538	20,376
	H&R Block Inc.				508,676	20,067
	Meritage Homes Corp.				276,203	19,199
*	Versant Media Group Inc.				582,796	18,988
	Vail Resorts Inc.				138,581	18,441
	Bath & Body Works Inc.				828,121	18,053
1	Whirlpool Corp.				216,746	17,338
	Travel + Leisure Co.				246,699	17,155
	Sirius XM Holdings Inc.				765,299	15,574
	American Eagle Outfitters Inc.				634,532	14,791
	Signet Jewelers Ltd.				159,333	14,702
	LCI Industries				93,980	13,786
	Polaris Inc.				212,141	13,543
	Dana Inc.				468,435	13,538
	Kontoor Brands Inc.				219,871	13,133
	Steven Madden Ltd.				285,302	12,519
	TEGNA Inc.				643,866	12,336
	Red Rock Resorts Inc. Class A				194,254	12,263
	HNI Corp.				252,557	12,070
	Penske Automotive Group Inc.				73,605	11,541
	Advance Auto Parts Inc.				239,452	11,496
	Phinia Inc.				153,097	10,896
1	Cheesecake Factory Inc.				183,618	10,643
	Harley-Davidson Inc.				437,876	8,670
	Strategic Education Inc.				93,136	7,918
	Dillard's Inc. Class A				11,872	7,213
	Newell Brands Inc.				1,695,814	7,207
	Interparfums Inc.				72,697	7,093
	Worthington Enterprises Inc.				124,473	6,917
	Leggett & Platt Inc.				545,129	6,362
	La-Z-Boy Inc.				169,595	6,175
	Marriott Vacations Worldwide Corp.				111,162	6,037
	Brightstar Lottery plc				416,311	6,028
	Buckle Inc.				126,114	5,965
	MillerKnoll Inc.				273,177	5,485
	PROG Holdings Inc.				158,057	5,127
	Wendy's Co.				650,189	5,065
	John Wiley & Sons Inc. Class A				162,193	5,065
	Papa John's International Inc.				129,904	4,569
	Upbound Group Inc.				208,961	3,949
1	Cracker Barrel Old Country Store Inc.				87,761	2,643
	Lennar Corp. Class B				11,790	1,194
						8,793,949
Consumer Staples (8.8%)
	Procter & Gamble Co.				9,456,455	1,435,206
	Coca-Cola Co.				15,656,947	1,171,296
	Philip Morris International Inc.				6,272,409	1,125,521
	PepsiCo Inc.				5,516,942	847,568
	Altria Group Inc.				6,791,275	420,991
	CVS Health Corp.				5,042,269	375,750
	Mondelez International Inc. Class A				5,215,985	304,979
	Colgate-Palmolive Co.				3,236,176	292,194
	Sysco Corp.				1,929,606	161,797
	Kroger Co.				2,441,391	153,441
	Keurig Dr Pepper Inc.				5,213,368	143,055
	Kimberly-Clark Corp.				1,337,518	133,738
	Kenvue Inc.				7,648,921	133,091
	Archer-Daniels-Midland Co.				1,924,149	129,514
	Hershey Co.				586,547	114,230

					Shares	Market Value ($000)
	General Mills Inc.				2,147,384	99,338
	Constellation Brands Inc. Class A				572,014	89,635
	Kraft Heinz Co.				3,436,090	81,573
	Tyson Foods Inc. Class A				1,127,223	73,641
	McCormick & Co. Inc. (Non-Voting)				1,020,215	63,080
	Bunge Global SA				542,644	61,796
	Clorox Co.				490,596	55,334
	J M Smucker Co.				417,674	43,797
	Conagra Brands Inc.				1,914,347	35,435
	Molson Coors Beverage Co. Class B				656,402	31,534
	Ingredion Inc.				256,883	30,338
	Hormel Foods Corp.				1,162,959	28,620
	Albertsons Cos. Inc. Class A				1,588,081	26,442
	Lamb Weston Holdings Inc.				540,703	24,835
	Campbell's Co.				781,582	21,869
	Brown-Forman Corp. Class B				593,443	16,243
	Cal-Maine Foods Inc.				175,981	14,700
	Marzetti Co.				79,901	13,709
	Flowers Foods Inc.				752,648	8,603
	Nomad Foods Ltd.				494,563	6,281
	Spectrum Brands Holdings Inc.				94,997	6,052
	J & J Snack Foods Corp.				61,431	5,836
	Energizer Holdings Inc.				247,967	5,413
	Universal Corp.				95,391	5,398
	Fresh Del Monte Produce Inc.				131,546	5,217
	Reynolds Consumer Products Inc.				218,015	5,051
	Weis Markets Inc.				55,392	3,941
	Edgewell Personal Care Co.				184,360	3,588
						7,809,670
Energy (9.1%)
	Exxon Mobil Corp.				17,008,463	2,404,997
	Chevron Corp.				7,542,282	1,334,230
	ConocoPhillips				5,034,507	524,747
	Williams Cos. Inc.				4,902,736	329,758
	SLB Ltd.				6,037,410	292,090
	EOG Resources Inc.				2,199,917	246,677
	Kinder Morgan Inc.				7,827,659	238,665
	Phillips 66				1,622,156	232,877
	Baker Hughes Co.				3,992,254	223,726
	Valero Energy Corp.				1,223,643	222,005
	Marathon Petroleum Corp.				1,224,148	215,683
	ONEOK Inc.				2,514,765	199,144
	Targa Resources Corp.				854,965	171,831
	EQT Corp.				2,501,768	144,427
	Occidental Petroleum Corp.				2,839,201	128,871
	Diamondback Energy Inc.				755,260	123,825
	Halliburton Co.				3,377,768	113,223
	Expand Energy Corp.				915,027	102,858
	Devon Energy Corp.				2,469,157	99,285
	Coterra Energy Inc.				3,038,754	87,668
	DT Midstream Inc.				408,307	51,455
	Permian Resources Corp. Class A				2,863,942	46,195
	Ovintiv Inc.				1,032,382	44,878
	APA Corp.				1,412,870	37,314
	Range Resources Corp.				950,240	35,967
	HF Sinclair Corp.				628,305	32,665
	Viper Energy Inc. Class A				680,755	28,823
	NOV Inc.				1,459,073	26,774
	Weatherford International plc				283,064	26,631
	Antero Midstream Corp.				1,348,219	25,373
	Chord Energy Corp.				231,443	23,200
	Matador Resources Co.				470,705	21,295
	Archrock Inc.				686,710	20,320
	SM Energy Co.				994,971	19,372
	Core Natural Resources Inc.				202,892	19,352
	Magnolia Oil & Gas Corp. Class A				718,866	18,338
	Noble Corp. plc				504,113	17,956
	Peabody Energy Corp.				486,909	17,168
	Murphy Oil Corp.				539,020	16,219

					Shares	Market Value ($000)
	Golar LNG Ltd.				387,581	15,732
	California Resources Corp.				293,633	15,709
	Liberty Energy Inc. Class A				629,756	15,523
	Helmerich & Payne Inc.				385,051	13,045
	PBF Energy Inc. Class A				334,749	11,201
	Patterson-UTI Energy Inc.				1,394,292	10,499
	Northern Oil & Gas Inc.				384,908	9,623
	Delek US Holdings Inc.				239,745	7,075
	World Kinect Corp.				217,244	5,846
						8,070,135
Financials (20.6%)
	JPMorgan Chase & Co.				10,525,027	3,219,501
	Bank of America Corp.				26,065,829	1,386,702
	Wells Fargo & Co.				12,655,717	1,145,216
	Goldman Sachs Group Inc.				1,145,718	1,071,716
	Morgan Stanley				4,636,725	847,593
	Citigroup Inc.				6,907,932	799,317
	Blackrock Inc.				614,231	687,288
	Progressive Corp.				2,359,250	490,724
	Chubb Ltd.				1,471,597	455,548
	Blackstone Inc.				2,986,186	425,293
	CME Group Inc.				1,447,977	418,552
	PNC Financial Services Group Inc.				1,590,914	355,251
	US Bancorp				6,288,707	352,859
	Bank of New York Mellon Corp.				2,809,400	336,903
	Truist Financial Corp.				5,193,731	267,062
	Travelers Cos. Inc.				896,181	254,972
	Apollo Global Management Inc.				1,659,625	223,286
	Aflac Inc.				1,933,496	214,521
	Allstate Corp.				1,062,422	211,411
	Ameriprise Financial Inc.				374,266	197,309
	MetLife Inc.				2,240,019	176,693
	American International Group Inc.				2,229,530	166,947
	Prudential Financial Inc.				1,409,690	156,631
	Hartford Insurance Group Inc.				1,131,282	152,791
	State Street Corp.				1,121,972	146,821
	M&T Bank Corp.				618,998	137,151
	Fifth Third Bancorp				2,681,260	134,653
	Ares Management Corp. Class A				757,482	113,372
	Northern Trust Corp.				756,841	113,095
	Huntington Bancshares Inc.				6,234,972	108,987
	Citizens Financial Group Inc.				1,728,235	108,844
	Regions Financial Corp.				3,561,759	101,510
	Cincinnati Financial Corp.				620,274	99,796
	Credicorp Ltd.				277,385	98,979
	T. Rowe Price Group Inc.				870,685	92,014
	Principal Financial Group Inc.				876,564	83,028
	KeyCorp				3,810,014	81,992
	W R Berkley Corp.				1,168,823	80,158
	East West Bancorp Inc.				550,814	63,035
	Carlyle Group Inc.				1,051,983	61,836
	Fidelity National Financial Inc.				1,036,350	56,367
	Equitable Holdings Inc.				1,211,255	56,202
	Everest Group Ltd.				166,851	55,274
	Reinsurance Group of America Inc.				265,731	53,877
	Evercore Inc. Class A				148,313	52,395
	Unum Group				681,103	51,743
	First Horizon Corp.				2,026,549	49,630
	Stifel Financial Corp.				398,297	49,110
	Assurant Inc.				204,297	48,649
	Ally Financial Inc.				1,111,254	46,984
	Comerica Inc.				513,590	45,540
	Webster Financial Corp.				660,477	43,440
	SouthState Bank Corp.				403,408	41,281
	Invesco Ltd.				1,466,817	40,029
	Western Alliance Bancorp				433,783	38,672
	Jefferies Financial Group Inc.				615,614	37,663
	UMB Financial Corp.				289,502	36,807
	Houlihan Lokey Inc. Class A				217,564	36,620

					Shares	Market Value ($000)
	Old Republic International Corp.				919,230	36,006
	Popular Inc.				264,116	35,267
	Columbia Banking System Inc.				1,190,661	35,053
	Zions Bancorp NA				583,157	34,937
	Blue Owl Capital Inc. Class A				2,552,269	34,813
	American Financial Group Inc.				265,953	34,646
	Old National Bancorp				1,397,480	34,140
	Cullen/Frost Bankers Inc.				239,841	33,055
	Jackson Financial Inc. Class A				276,328	32,861
	Corebridge Financial Inc.				1,058,457	32,632
	Franklin Resources Inc.				1,220,515	32,490
	OneMain Holdings Inc.				478,700	31,374
	TPG Inc. Class A				532,384	31,363
	Cadence Bank				743,059	31,290
	XP Inc. Class A				1,590,472	31,030
	Axis Capital Holdings Ltd.				298,777	30,828
	Voya Financial Inc.				387,600	29,713
	Lincoln National Corp.				684,715	28,491
	Commerce Bancshares Inc.				521,026	27,427
	FirstCash Holdings Inc.				157,862	26,915
	Glacier Bancorp Inc.				510,991	25,897
	Prosperity Bancshares Inc.				367,486	25,360
	FNB Corp.				1,431,442	25,122
	Hanover Insurance Group Inc.				142,202	24,763
	First American Financial Corp.				390,969	24,701
	Piper Sandler Cos.				69,628	24,116
	Valley National Bancorp				1,930,523	24,054
	Janus Henderson Group plc				499,600	24,046
	Essent Group Ltd.				378,267	23,801
	MGIC Investment Corp.				883,287	23,778
	United Bankshares Inc.				559,860	23,699
	Hancock Whitney Corp.				337,003	23,186
	Atlantic Union Bankshares Corp.				569,052	22,102
	SLM Corp.				812,707	22,065
	Home BancShares Inc.				749,521	21,661
	Moelis & Co. Class A				296,156	21,226
	Bank OZK				429,055	20,406
	Selective Insurance Group Inc.				241,669	20,320
	Lazard Inc.				369,433	19,846
	StepStone Group Inc. Class A				277,604	19,624
	RLI Corp.				329,474	19,251
	Associated Banc-Corp				663,484	18,087
	Eastern Bankshares Inc.				880,461	18,036
	Radian Group Inc.				540,006	17,766
	First Financial Bankshares Inc.				534,328	17,002
	ServisFirst Bancshares Inc.				204,946	16,775
	United Community Banks Inc.				487,005	16,768
	Independent Bank Corp.				200,983	16,235
	CNO Financial Group Inc.				381,880	16,058
	Assured Guaranty Ltd.				178,478	15,144
	International Bancshares Corp.				216,658	15,088
	Fulton Financial Corp.				726,463	15,001
	BankUnited Inc.				300,030	14,242
	Renasant Corp.				376,440	14,196
	First Bancorp				633,073	14,004
	Cathay General Bancorp				263,733	13,498
	WesBanco Inc.				374,816	13,227
	Virtu Financial Inc. Class A				318,563	13,224
	Bread Financial Holdings Inc.				181,658	13,177
	Community Financial System Inc.				210,568	13,161
	First Hawaiian Inc.				494,890	13,139
	First Interstate BancSystem Inc. Class A				355,195	12,599
	Victory Capital Holdings Inc. Class A				176,089	12,420
	Seacoast Banking Corp. of Florida				350,317	11,715
	Simmons First National Corp. Class A				575,326	11,696
	Bank of Hawaii Corp.				156,172	11,679
	BOK Financial Corp.				88,884	11,550
	First Financial Bancorp				399,944	11,494
	Provident Financial Services Inc.				514,554	11,392
	Artisan Partners Asset Management Inc. Class A				250,042	11,132

					Shares	Market Value ($000)
	CVB Financial Corp.				521,856	10,286
	WaFd Inc.				312,172	10,183
	Towne Bank				290,675	10,174
	First Merchants Corp.				248,375	9,875
	Kemper Corp.				249,487	9,832
	Park National Corp.				58,719	9,568
	Trustmark Corp.				223,716	9,512
	Beacon Financial Corp.				332,663	9,431
	Mercury General Corp.				107,167	9,387
	BancFirst Corp.				82,778	9,101
	NBT Bancorp Inc.				204,308	9,077
	Bank of NT Butterfield & Son Ltd.				165,719	8,584
	Banner Corp.				135,473	8,378
	Walker & Dunlop Inc.				130,525	8,209
	WisdomTree Inc.				493,835	8,000
	First Commonwealth Financial Corp.				413,306	7,452
	Northwest Bancshares Inc.				571,415	7,360
	Horace Mann Educators Corp.				162,147	7,266
	Cohen & Steers Inc.				109,941	7,065
	Stock Yards Bancorp Inc.				103,979	7,038
	City Holding Co.				56,032	6,897
	Hilltop Holdings Inc.				178,207	6,674
	S&T Bancorp Inc.				152,246	6,492
	Hope Bancorp Inc.				489,768	5,867
	1st Source Corp.				73,741	4,965
	Westamerica Bancorp				97,841	4,949
	Safety Insurance Group Inc.				58,764	4,625
	F&G Annuities & Life Inc.				147,825	4,359
	Virtus Investment Partners Inc.				26,124	4,265
	CNA Financial Corp.				85,366	4,086
	Employers Holdings Inc.				87,526	3,818
	TFS Financial Corp.				208,738	2,938
	Navient Corp.				281,620	2,763
	Cannae Holdings Inc.				190,513	2,745
	Republic Bancorp Inc. Class A				33,133	2,406
						18,256,127
Health Care (12.5%)
	Johnson & Johnson				9,688,259	2,201,657
	AbbVie Inc.				7,132,137	1,590,538
	Merck & Co. Inc.				10,143,777	1,118,554
	UnitedHealth Group Inc.				3,663,502	1,051,169
	Abbott Laboratories				6,971,309	761,964
	Gilead Sciences Inc.				5,013,808	711,710
	Amgen Inc.				1,995,375	682,179
	Pfizer Inc.				22,870,028	604,684
	Medtronic plc				5,162,907	531,573
	Bristol-Myers Squibb Co.				8,204,342	451,649
	Elevance Health Inc.				887,363	306,797
	Cigna Group				1,060,637	290,731
	Becton Dickinson & Co.				1,151,550	234,317
	Cardinal Health Inc.				960,761	206,448
	Quest Diagnostics Inc.				448,507	83,884
	Royalty Pharma plc Class A				1,566,775	65,303
	Viatris Inc.				4,649,628	60,864
	Baxter International Inc.				2,061,157	41,367
	DENTSPLY SIRONA Inc.				797,811	9,949
	Organon & Co.				1,048,422	8,953
	Perrigo Co. plc				545,445	7,751
	Select Medical Holdings Corp.				430,839	6,484
						11,028,525
Industrials (13.8%)
	Caterpillar Inc.				1,864,112	1,225,393
	RTX Corp.				5,386,258	1,082,261
	Accenture plc Class A				2,520,229	664,433
	Honeywell International Inc.				2,560,155	582,486
	Union Pacific Corp.				2,407,717	566,054
	Eaton Corp. plc				1,577,761	554,457
	Lockheed Martin Corp.				830,361	526,632
	Automatic Data Processing Inc.				1,640,583	404,929

					Shares	Market Value ($000)
	Northrop Grumman Corp.				545,930	377,926
	General Dynamics Corp.				1,017,363	357,186
	Emerson Electric Co.				2,269,096	333,466
	3M Co.				2,146,805	328,805
	Cummins Inc.				554,013	320,674
	Johnson Controls International plc				2,657,688	316,956
	United Parcel Service Inc. Class B				2,954,533	313,830
	Illinois Tool Works Inc.				1,166,349	304,720
	FedEx Corp.				862,717	278,011
	Norfolk Southern Corp.				909,201	264,796
	L3Harris Technologies Inc.				751,840	257,768
	PACCAR Inc.				2,074,585	254,987
	Ferguson Enterprises Inc.				769,026	194,148
	Rockwell Automation Inc.				455,569	192,091
	Otis Worldwide Corp.				1,570,655	134,165
	Paychex Inc.				1,299,014	133,967
	Fidelity National Information Services Inc.				2,119,587	117,107
	FTAI Aviation Ltd.				410,058	111,667
	Synchrony Financial				1,448,808	105,227
	Hubbell Inc. Class B				215,383	105,094
	PPG Industries Inc.				904,498	104,587
	CH Robinson Worldwide Inc.				473,106	92,232
	Amcor plc				1,856,279	82,140
	Packaging Corp. of America				355,734	79,169
	Dow Inc.				2,849,409	78,501
	Snap-on Inc.				206,370	75,554
	DuPont de Nemours Inc.				1,685,759	74,039
	nVent Electric plc				640,762	71,932
	Huntington Ingalls Industries Inc.				157,118	66,070
	Masco Corp.				836,731	55,300
	RPM International Inc.				512,200	54,785
	Watsco Inc.				140,074	54,132
	Stanley Black & Decker Inc.				622,515	48,967
	Booz Allen Hamilton Holding Corp.				482,100	42,627
	Owens Corning				334,303	40,063
	Flowserve Corp.				509,601	39,825
	CNH Industrial NV				3,536,210	38,050
	Oshkosh Corp.				253,256	36,423
	Toro Co.				396,444	36,275
	A O Smith Corp.				456,875	33,576
	Ryder System Inc.				157,954	30,213
	AGCO Corp.				249,339	28,278
	Air Lease Corp. Class A				418,827	27,069
	Installed Building Products Inc.				92,195	26,565
	GATX Corp.				142,752	25,968
	Sealed Air Corp.				586,445	24,560
	Maximus Inc.				225,111	21,259
	Brunswick Corp.				263,526	21,140
	Sensata Technologies Holding plc				582,794	20,159
	Sonoco Products Co.				396,441	19,029
	Herc Holdings Inc.				130,272	18,673
	Graphic Packaging Holding Co.				1,175,649	17,223
	ADT Inc.				2,056,018	16,448
	Patrick Industries Inc.				129,082	16,286
	MSC Industrial Direct Co. Inc. Class A				176,373	14,875
	Terex Corp.				257,354	14,669
	Korn Ferry				208,647	14,495
	Robert Half Inc.				398,013	13,775
	Otter Tail Corp.				153,115	13,652
	Boise Cascade Co.				150,198	12,138
	Western Union Co.				1,289,086	12,079
	Scorpio Tankers Inc.				180,853	11,506
	ABM Industries Inc.				246,252	11,337
	McGrath RentCorp				97,836	10,927
	Kennametal Inc.				306,785	10,550
	ZIM Integrated Shipping Services Ltd.				478,109	10,533
	Crane NXT Co.				196,269	9,916
	Trinity Industries Inc.				322,676	9,274
	Hillenbrand Inc.				282,059	9,001
	Star Bulk Carriers Corp.				366,712	8,416

					Shares	Market Value ($000)
	Werner Enterprises Inc.				238,661	8,174
	Greif Inc. Class A				100,338	7,086
	ManpowerGroup Inc.				183,851	6,679
	Insperity Inc.				143,022	6,111
	Greenbrier Cos. Inc.				121,141	6,108
	Tennant Co.				74,518	5,670
	SFL Corp. Ltd. Class B				489,550	4,337
	Ardagh Metal Packaging SA				551,907	2,423
						12,160,084
Real Estate (0.0%)
	HA Sustainable Infrastructure Capital Inc.				487,871	16,788
	Newmark Group Inc. Class A				587,423	10,474
	eXp World Holdings Inc.				347,966	3,145
						30,407
Technology (12.9%)
	Broadcom Inc.				18,592,991	6,159,858
	International Business Machines Corp.				3,745,789	1,148,833
	Texas Instruments Inc.				3,658,852	788,666
	QUALCOMM Inc.				4,349,186	659,293
	Analog Devices Inc.				1,997,345	620,935
	Seagate Technology Holdings plc				852,548	347,575
	Corning Inc.				3,143,142	324,529
	TE Connectivity plc				1,191,109	265,355
	NXP Semiconductors NV				1,015,848	229,724
	Microchip Technology Inc.				2,124,499	161,292
	Dell Technologies Inc. Class C				1,282,312	146,748
	Hewlett Packard Enterprise Co.				5,278,567	113,595
	Qnity Electronics Inc.				842,836	81,064
	NetApp Inc.				782,574	75,401
	HP Inc.				3,798,688	73,847
	Gen Digital Inc.				2,211,139	53,045
	Amdocs Ltd.				435,326	35,671
	Skyworks Solutions Inc.				595,340	33,196
	Amkor Technology Inc.				459,029	22,185
	Avnet Inc.				325,267	20,293
	Kulicke & Soffa Industries Inc.				206,227	11,823
	Clear Secure Inc. Class A				344,117	11,225
	Vishay Intertechnology Inc.				480,079	9,674
	CSG Systems International Inc.				110,359	8,801
	Benchmark Electronics Inc.				142,738	7,442
	Concentrix Corp.				181,142	6,766
						11,416,836
Telecommunications (3.6%)
	Cisco Systems Inc.				16,024,176	1,255,013
	Verizon Communications Inc.				17,002,094	756,933
	AT&T Inc.				27,822,546	729,229
	Comcast Corp. Class A				14,549,979	432,862
	Telephone & Data Systems Inc.				397,143	17,923
	Iridium Communications Inc.				378,641	7,543
	Cogent Communications Holdings Inc.				196,154	4,767
						3,204,270
Utilities (6.2%)
	NextEra Energy Inc.				8,398,992	738,271
	Southern Co.				4,436,480	396,222
	Duke Energy Corp.				3,132,298	380,104
	Waste Management Inc.				1,489,343	330,992
	American Electric Power Co. Inc.				2,154,001	257,996
	Sempra				2,627,812	228,646
	Dominion Energy Inc.				3,435,579	206,719
	Exelon Corp.				4,069,281	182,222
	Xcel Energy Inc.				2,382,606	181,221
	Entergy Corp.				1,797,593	172,371
	Public Service Enterprise Group Inc.				2,010,238	165,563
	Consolidated Edison Inc.				1,451,053	154,726
	WEC Energy Group Inc.				1,310,847	145,072
	NRG Energy Inc.				757,745	115,655
	Ameren Corp.				1,086,369	112,200
	DTE Energy Co.				834,114	112,088

					Shares	Market Value ($000)
	PPL Corp.				2,979,596	108,010
	Atmos Energy Corp.				644,595	107,222
	FirstEnergy Corp.				2,209,407	104,593
	CenterPoint Energy Inc.				2,623,261	104,117
	Eversource Energy				1,495,328	103,372
	American Water Works Co. Inc.				784,495	101,302
	Edison International				1,534,503	95,569
	CMS Energy Corp.				1,218,549	87,114
	NiSource Inc.				1,921,460	85,102
	Evergy Inc.				927,332	71,154
	Alliant Energy Corp.				1,034,941	68,213
	Pinnacle West Capital Corp.				480,006	44,909
	Essential Utilities Inc.				1,127,988	43,755
	AES Corp.				2,855,286	41,830
	OGE Energy Corp.				807,444	35,269
	UGI Corp.				864,351	34,669
	National Fuel Gas Co.				360,563	30,197
	IDACORP Inc.				216,784	28,787
	TXNM Energy Inc.				401,559	23,660
	Portland General Electric Co.				452,120	22,719
	Black Hills Corp.				293,925	21,451
	Southwest Gas Holdings Inc.				258,095	21,376
	New Jersey Resources Corp.				401,807	19,881
	Spire Inc.				232,066	19,607
	ONE Gas Inc.				238,499	18,975
	MDU Resources Group Inc.				813,636	16,688
	Northwestern Energy Group Inc.				244,965	16,623
	Avista Corp.				323,354	13,351
	Chesapeake Utilities Corp.				94,369	12,143
	Clearway Energy Inc. Class C				328,961	11,892
	MGE Energy Inc.				146,186	11,677
	American States Water Co.				153,855	11,225
	California Water Service Group				236,934	10,591
	Northwest Natural Holding Co.				162,670	7,574
	H2O America				133,673	6,956
	Clearway Energy Inc. Class A				136,823	4,621
						5,446,262
Total Common Stocks (Cost $59,319,565)						88,150,038
			Coupon
Temporary Cash Investments (0.3%)
Money Market Fund (0.3%)
2,3	Vanguard Market Liquidity Fund (Cost $226,195)		3.704%		2,261,981	226,198
Total Investments (99.9%) (Cost $59,545,760)						88,376,236
Other Assets and Liabilities—Net (0.1%)						130,635
Net Assets (100%)						88,506,871

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 $7,474.
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 $7,519 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
E-mini S&P 500 Index	March 2026	120	41,794	85
E-mini S&P Mid-Cap 400 Index	March 2026	102	35,165	(451)
				(366)

    

Over-the-Counter Total Return Swaps
Reference Entity	Termination Date	Counterparty	Notional Amount ($000)	Floating Interest Rate Received (Paid)1 (%)	Value and Unrealized Appreciation ($000)	Value and Unrealized (Depreciation) ($000)
Amgen Inc.	8/31/2026	BANA	59,447	(3.640)	—	(1,346)
Bank of America Corp.	2/1/2027	CITNA	36,751	(4.490)	735	—
Citigroup Inc.	8/31/2027	BANA	27,198	(4.380)	201	—
Elevance Health Inc.	8/31/2026	BANA	3,075	(4.390)	—	(255)
Goldman Sachs Group Inc.	8/31/2027	BANA	34,718	(4.490)	119	—
JPMorgan Chase & Co.	8/31/2027	BANA	123,987	(4.396)	1,952	—
NetApp Inc.	8/31/2026	BANA	2,169	(4.320)	—	(55)
					3,007	(1,656)

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly.

BANA—Bank of America, N.A.

CITNA—Citibank, N.A.

At January 31, 2026, the counterparties had deposited in segregated accounts securities with a value of $1,858 in connection with open over-the-counter swap contracts.

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.  Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

D.  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 January 31, 2026, based on the inputs used to value them:

	Level 1 ($000)	Level 2 ($000)	Level 3 ($000)	Total ($000)
Investments
Assets
Common Stocks	88,150,038	—	—	88,150,038
Temporary Cash Investments	226,198	—	—	226,198
Total	88,376,236	—	—	88,376,236
Derivative Financial Instruments
Assets
Futures Contracts1	85	—	—	85
Swap Contracts	—	3,007	—	3,007
Total	85	3,007	—	3,092
Liabilities
Futures Contracts1	(451)	—	—	(451)
Swap Contracts	—	(1,656)	—	(1,656)
Total	(451)	(1,656)	—	(2,107)

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.