Vanguard® Advice Select Dividend Growth Fund
Schedule of Investments (unaudited)
As of July 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 (98.0%)
Communication Services (2.4%)
 
Alphabet Inc. Class A
75,149
26,763
Consumer Discretionary (8.3%)
 
Home Depot Inc.
102,116
33,898
 
TJX Cos. Inc.
204,276
32,141
 
McDonald's Corp.
59,110
15,998
 
Marriott International Inc. Class A
33,080
12,333
 
 
 
 
 
94,370
Consumer Staples (4.9%)
 
Coca-Cola Co.
374,866
32,835
 
Procter & Gamble Co.
157,493
22,756
 
 
 
 
 
55,591
Energy (1.8%)
 
ExxonMobil Holdings Corp.
127,506
19,819
Financials (22.4%)
 
Mastercard Inc. Class A
103,403
59,260
 
Blackrock Inc.
35,988
39,241
 
Wells Fargo & Co.
421,903
36,474
 
Chubb Ltd.
93,251
32,701
 
Visa Inc. Class A
87,695
32,108
 
Marsh & McLennan Cos. Inc.
136,613
25,914
 
JPMorgan Chase & Co.
52,370
18,423
 
S&P Global Inc.
23,577
9,712
 
 
 
 
 
253,833
Health Care (17.4%)
 
Eli Lilly & Co.
45,597
52,384
 
Danaher Corp.
171,153
33,371
 
Amgen Inc.
84,423
32,516
 
Stryker Corp.
97,012
31,597
 
Merck & Co. Inc.
216,326
28,166
 
Elevance Health Inc.
49,843
18,733
 
 
 
 
 
196,767
Industrials (10.6%)
 
Trane Technologies plc
65,993
30,024
 
AMETEK Inc.
102,519
24,780
 
Honeywell International Inc.
96,394
23,429
 
Northrop Grumman Corp.
40,022
21,711
*
Honeywell Aerospace Inc.
96,394
19,928
 
 
 
 
 
119,872
Information Technology (24.6%)
 
Broadcom Inc.
177,550
69,117
 
Microsoft Corp.
147,031
68,328
 
Apple Inc.
120,478
37,217
 
Texas Instruments Inc.
133,207
36,731
 
Amphenol Corp. Class A
155,272
24,952
 
ASML Holding NV (Registered) ADR
12,736
20,747
 
International Business Machines Corp.
47,668
10,661
 
QUALCOMM Inc.
57,876
8,543
 
KLA Corp.
11,887
2,173
 
 
 
 
 
278,469
Materials (3.1%)
 
Linde plc
72,080
34,482
Utilities (2.5%)
 
American Water Works Co. Inc.
107,103
14,370
 
Sempra
152,234
13,480
 
 
 
 
 
27,850
Total Common Stocks (Cost $902,447)
1,107,816
 
 
 
Coupon
 
Shares
Market
Value
($000)
Temporary Cash Investments (2.0%)
Money Market Fund (2.0%)
1
Vanguard Market Liquidity Fund (Cost $22,691)
3.718%
 
226,946
22,692
Total Investments (100.0%) (Cost $925,138)
1,130,508
Other Assets and Liabilities—Net (0.0%)
306
Net Assets (100%)
1,130,814
 
Cost is in $000.
 
*
Non-income-producing security.
1
Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
 
 
ADR—American Depositary Receipt.
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. 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.
At July 31, 2026, 100% of the market value of the fund's investments was determined based on Level 1 inputs.