Vanguard® S&P Small-Cap 600 Growth Index Fund
Schedule of Investments (unaudited)
As of May 31, 2023
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 (99.8%)
Communication Services (1.5%)
  Cogent Communications Holdings Inc.  28,531   1,755
* Yelp Inc. Class A  45,748   1,533
* Cars.com Inc.  70,112   1,237
* TechTarget Inc.  30,220   1,050
* Gogo Inc.  47,507     715
  Shutterstock Inc.  13,052     650
  ATN International Inc.  12,075     453
* QuinStreet Inc.  29,629     273
            7,666
Consumer Discretionary (8.6%)
* Dorman Products Inc.  31,936   2,620
* Asbury Automotive Group Inc.  11,268   2,356
* Cavco Industries Inc. 9,133 2,274
* Adtalem Global Education Inc. 51,432 2,134
  Academy Sports & Outdoors Inc. 41,477 2,031
  Jack in the Box Inc. 23,306 2,017
* Stride Inc. 46,342 1,873
  Installed Building Products Inc. 17,515 1,831
  LCI Industries 14,384 1,554
* XPEL Inc. 22,188 1,528
* Shake Shack Inc. Class A 22,380 1,481
* Frontdoor Inc. 47,947 1,478
* Green Brick Partners Inc. 30,757 1,472
* Boot Barn Holdings Inc. 20,580 1,392
  Bloomin' Brands Inc. 57,609 1,376
* National Vision Holdings Inc. 51,847 1,309
* Gentherm Inc. 22,913 1,259
  Oxford Industries Inc. 11,737 1,173
  Strategic Education Inc. 14,351 1,133
* Leslie's Inc. 109,410 1,037
  Monarch Casino & Resort Inc. 15,022 975
* Six Flags Entertainment Corp. 36,054 921
  Winnebago Industries Inc. 15,915 886
* Dave & Buster's Entertainment Inc. 26,645 857
* Vista Outdoor Inc. 28,875 769
  Buckle Inc. 22,970 705
  Ethan Allen Interiors Inc. 25,696 643
* Golden Entertainment Inc. 15,079 635
  Dine Brands Global Inc. 10,593 634
  Sturm Ruger & Co. Inc. 12,140 626
* Perdoceo Education Corp. 47,660 562

          Shares Market
Value
($000)
* Sabre Corp. 140,571     436
* Chuy's Holdings Inc.  10,947     403
  Ruth's Hospitality Group Inc.  17,756     381
* Mister Car Wash Inc.  45,562     376
  Hibbett Inc.   7,601     274
  Haverty Furniture Cos. Inc.   7,602     201
            43,612
Consumer Staples (6.5%)
* elf Beauty Inc.  57,210   5,951
* Hostess Brands Inc. Class A 151,281   3,764
* Simply Good Foods Co.  95,560   3,458
  J & J Snack Foods Corp.  16,935   2,607
  Inter Parfums Inc.  20,164   2,532
  Cal-Maine Foods Inc.  42,854   2,038
  WD-40 Co. 9,991 1,895
  MGP Ingredients Inc. 17,418 1,656
* TreeHouse Foods Inc. 26,839 1,271
  Edgewell Personal Care Co. 27,924 1,088
  Medifast Inc. 12,361 973
* National Beverage Corp. 17,880 883
  Tootsie Roll Industries Inc. 20,684 808
  Vector Group Ltd. 65,640 769
* Central Garden & Pet Co. Class A 22,394 769
* Chefs' Warehouse Inc. 23,790 740
  John B Sanfilippo & Son Inc. 6,154 715
  Andersons Inc. 15,433 602
* Central Garden & Pet Co. 5,226 190
            32,709
Energy (5.2%)
  Civitas Resources Inc. 58,631 3,917
  SM Energy Co. 138,670 3,646
  Northern Oil & Gas Inc. 91,394 2,734
  Helmerich & Payne Inc. 68,407 2,112
  CONSOL Energy Inc. 36,958 1,994
  Patterson-UTI Energy Inc. 166,875 1,625
* Oceaneering International Inc. 81,715 1,251
  Comstock Resources Inc. 103,651 966
* Callon Petroleum Co. 28,971 887
  Dorian LPG Ltd. 36,156 834
  Ranger Oil Corp. Class A 21,676 797
* Vital Energy Inc. 19,062 791
  RPC Inc. 94,373 628
* NexTier Oilfield Solutions Inc. 80,936 610
* Nabors Industries Ltd. 6,924 580
* REX American Resources Corp. 17,239 568
* US Silica Holdings Inc. 49,470 560
  Core Laboratories Inc. 25,103 549
* Talos Energy Inc. 39,683 488
* Dril-Quip Inc. 20,251 453
  CVR Energy Inc. 18,058 423
            26,413
Financials (13.8%)
* Mr Cooper Group Inc. 78,275 3,621
  First Bancorp 206,263 2,302
  ServisFirst Bancshares Inc. 55,235 2,226
  Piper Sandler Cos. 15,502 1,974
* Bancorp Inc. 63,023 1,945

          Shares Market
Value
($000)
  United Community Banks Inc.  84,524   1,911
  Assured Guaranty Ltd.  34,575   1,789
  CVB Financial Corp. 148,376   1,782
  Community Bank System Inc.  34,654   1,713
  Banner Corp.  38,682   1,674
  BancFirst Corp.  19,718   1,668
  EVERTEC Inc.  47,934   1,653
  NBT Bancorp Inc.  48,469   1,626
  Park National Corp.  16,334   1,613
  American Equity Investment Life Holding Co.  40,825   1,610
* StoneX Group Inc.  19,859   1,594
* Palomar Holdings Inc.  28,552   1,561
  City Holding Co.  16,752   1,444
  Lakeland Financial Corp.  28,600   1,437
  Ameris Bancorp 44,982 1,420
  OFG Bancorp 53,819 1,306
  First Hawaiian Inc. 74,919 1,235
* Axos Financial Inc. 32,631 1,234
* NMI Holdings Inc. Class A 48,255 1,214
  Independent Bank Corp. 26,843 1,185
  Stellar Bancorp Inc. 50,939 1,185
  Westamerica Bancorp 30,441 1,152
  First Financial Bancorp 59,003 1,119
  Seacoast Banking Corp. of Florida 51,099 1,057
  Washington Federal Inc. 39,188 1,019
  Trustmark Corp. 47,597 994
  Pathward Financial Inc. 22,463 987
* Avantax Inc. 45,058 953
  ARMOUR Residential REIT Inc. 183,852 923
* Trupanion Inc. 39,789 894
  Atlantic Union Bankshares Corp. 32,945 842
  National Bank Holdings Corp. Class A 28,110 841
  First Bancorp (XNGS) 27,551 829
  S&T Bancorp Inc. 30,307 813
* Triumph Financial Inc. 15,627 811
  First Commonwealth Financial Corp. 63,782 807
  Northwest Bancshares Inc. 74,812 786
  Virtus Investment Partners Inc. 3,936 751
  Preferred Bank 14,966 690
  Safety Insurance Group Inc. 9,462 689
  Heritage Financial Corp. 39,775 650
* Donnelley Financial Solutions Inc. 14,098 625
  AMERISAFE Inc. 11,864 606
  Dime Community Bancshares Inc. 36,715 595
  Berkshire Hills Bancorp Inc. 28,984 593
  Employers Holdings Inc. 15,622 565
  FB Financial Corp. 19,743 526
  Southside Bancshares Inc. 19,571 519
  Veritex Holdings Inc. 29,825 515
  Hanmi Financial Corp. 34,327 494
  WisdomTree Inc. 70,251 478
  Tompkins Financial Corp. 9,048 473
  Brightsphere Investment Group Inc. 18,931 407
* Payoneer Global Inc. 96,704 401
* Customers Bancorp Inc. 17,139 394
  TrustCo Bank Corp. 14,147 391
1 B. Riley Financial Inc. 8,834 320
  Northfield Bancorp Inc. 25,397 260

          Shares Market
Value
($000)
  Invesco Mortgage Capital Inc.  17,997     191
            69,882
Health Care (13.6%)
  Ensign Group Inc.  62,982   5,581
* Merit Medical Systems Inc.  64,306   5,299
* AMN Healthcare Services Inc.  48,972   4,650
* Cytokinetics Inc. 106,934   4,030
* Corcept Therapeutics Inc. 101,648   2,388
* Vir Biotechnology Inc.  85,644   2,284
* Prestige Consumer Healthcare Inc.  39,270   2,247
* Glaukos Corp.  36,166   2,062
  CONMED Corp.  16,900   2,050
* Supernus Pharmaceuticals Inc.  61,170   2,027
* Pacira BioSciences Inc.  51,918   1,974
* Amphastar Pharmaceuticals Inc. 42,658 1,893
* Xencor Inc. 67,637 1,833
* Addus HomeCare Corp. 18,230 1,643
* Dynavax Technologies Corp. 134,270 1,535
* Veradigm Inc. 123,665 1,457
* Certara Inc. 68,965 1,433
* CorVel Corp. 6,687 1,307
* Catalyst Pharmaceuticals Inc. 108,354 1,251
* Arcus Biosciences Inc. 59,035 1,213
* Harmony Biosciences Holdings Inc. 33,561 1,161
* Tandem Diabetes Care Inc. 43,587 1,133
* Ironwood Pharmaceuticals Inc. Class A 95,196 1,036
  US Physical Therapy Inc. 10,113 1,033
* Cross Country Healthcare Inc. 40,135 1,023
* Vericel Corp. 30,490 979
* Innoviva Inc. 71,201 960
  LeMaitre Vascular Inc. 15,148 952
* NextGen Healthcare Inc. 60,534 942
* AdaptHealth Corp. Class A 86,906 911
* BioLife Solutions Inc. 38,785 906
* uniQure NV 46,671 900
  Embecta Corp. 30,456 843
* Collegium Pharmaceutical Inc. 37,822 835
* Avid Bioservices Inc. 48,715 753
* REGENXBIO Inc. 42,674 735
* Ligand Pharmaceuticals Inc. 9,765 684
  Simulations Plus Inc. 12,121 536
  Mesa Laboratories Inc. 3,510 454
* iTeos Therapeutics Inc. 27,652 450
  HealthStream Inc. 17,414 401
* Fulgent Genetics Inc. 10,001 398
* ANI Pharmaceuticals Inc. 7,159 323
* Cytek Biosciences Inc. 39,538 309
* Agiliti Inc. 16,899 277
* Cutera Inc. 14,277 240
* Anika Therapeutics Inc. 8,558 232
*,1 Zynex Inc. 24,473 230
* Computer Programs & Systems Inc. 8,497 203
* Enanta Pharmaceuticals Inc. 8,624 202
* Eagle Pharmaceuticals Inc. 7,861 163
* Cara Therapeutics Inc. 50,849 162
* Coherus Biosciences Inc. 37,087 152

          Shares Market
Value
($000)
*,2 OmniAb Inc. 12.5 Earnout   7,390      —
*,2 OmniAb Inc. 15 Earnout   7,390      —
            68,675
Industrials (18.9%)
  Comfort Systems USA Inc.  40,404   5,979
  Applied Industrial Technologies Inc.  43,619   5,363
  Mueller Industries Inc.  64,253   4,772
* Aerojet Rocketdyne Holdings Inc.  85,670   4,667
  AAON Inc.  47,491   4,113
  Franklin Electric Co. Inc.  43,963   3,999
  Hillenbrand Inc.  78,408   3,761
  Federal Signal Corp.  68,508   3,630
  Encore Wire Corp.  20,725   3,392
  Boise Cascade Co.  44,548   3,200
  Albany International Corp. Class A 35,132 2,983
  Forward Air Corp. 30,037 2,922
  Matson Inc. 42,663 2,915
* Verra Mobility Corp. Class A 157,393 2,775
* AeroVironment Inc. 28,412 2,654
* SPX Technologies Inc. 31,703 2,421
  EnPro Industries Inc. 23,490 2,374
  Arcosa Inc. 36,105 2,371
* Dycom Industries Inc. 22,707 2,303
  Moog Inc. Class A 19,816 1,926
  ESCO Technologies Inc. 19,854 1,787
  UniFirst Corp. 10,076 1,724
  Griffon Corp. 53,717 1,693
* PGT Innovations Inc. 67,890 1,689
  CSG Systems International Inc. 34,016 1,632
  Brady Corp. Class A 33,964 1,619
  Lindsay Corp. 12,455 1,467
  Alamo Group Inc. 8,500 1,415
  Marten Transport Ltd. 65,150 1,378
  Korn Ferry 28,608 1,345
* NV5 Global Inc. 14,082 1,276
  Standex International Corp. 9,195 1,252
* Hub Group Inc. Class A 16,620 1,223
* MYR Group Inc. 9,395 1,198
  Trinity Industries Inc. 54,342 1,149
  Enerpac Tool Group Corp. Class A 42,546 1,082
  Wabash National Corp. 31,358 735
* Sun Country Airlines Holdings Inc. 36,717 690
* Titan International Inc. 57,344 567
  Heartland Express Inc. 34,118 532
  Apogee Enterprises Inc. 14,264 527
  Quanex Building Products Corp. 21,341 448
  TTEC Holdings Inc. 10,641 338
  Insteel Industries Inc. 10,079 302
* Liquidity Services Inc. 14,852 225
            95,813
Information Technology (19.5%)
* Rambus Inc. 121,468 7,769
* SPS Commerce Inc. 40,727 6,345
* Onto Innovation Inc. 55,950 6,006
* Axcelis Technologies Inc. 37,030 5,834
* Fabrinet 41,368 4,684
* Diodes Inc. 51,392 4,617

          Shares Market
Value
($000)
  Badger Meter Inc.  33,073   4,560
  Advanced Energy Industries Inc.  42,231   4,145
* DoubleVerify Holdings Inc.  98,820   3,446
  Kulicke & Soffa Industries Inc.  64,050   3,387
* Extreme Networks Inc. 145,919   3,006
  Progress Software Corp.  48,957   2,937
* Plexus Corp.  31,291   2,838
* Alarm.com Holdings Inc.  56,381   2,831
  InterDigital Inc.  30,396   2,524
* MaxLinear Inc. Class A  81,839   2,391
* NetScout Systems Inc.  76,105   2,323
* Harmonic Inc. 123,995   2,184
* Perficient Inc.  22,334   1,708
* Agilysys Inc.  22,537   1,675
  CTS Corp. 36,073 1,647
* Sanmina Corp. 30,373 1,611
* Photronics Inc. 69,859 1,483
* Digi International Inc. 40,458 1,455
* Veeco Instruments Inc. 58,183 1,420
* PDF Solutions Inc. 33,426 1,412
* Cohu Inc. 35,579 1,364
* Viavi Solutions Inc. 132,256 1,301
  A10 Networks Inc. 72,618 1,081
* OSI Systems Inc. 9,055 1,078
* LiveRamp Holdings Inc. 40,319 981
* Ultra Clean Holdings Inc. 28,353 972
  Methode Electronics Inc. 21,263 915
* N-able Inc. 51,149 726
* ePlus Inc. 14,650 724
* Alpha & Omega Semiconductor Ltd. 25,219 698
* Digital Turbine Inc. 65,157 596
* Clearfield Inc. 14,243 557
* Avid Technology Inc. 22,082 530
* Corsair Gaming Inc. 25,381 501
* Consensus Cloud Solutions Inc. 13,520 493
  ADTRAN Holdings Inc. 55,255 492
* Arlo Technologies Inc. 49,836 482
* CEVA Inc. 15,935 399
* OneSpan Inc. 19,486 295
* 8x8 Inc. 58,591 239
* LivePerson Inc. 41,037 151
            98,813
Materials (6.1%)
* Livent Corp. 202,688 4,672
  Balchem Corp. 36,315 4,490
* ATI Inc. 90,638 3,134
  Quaker Chemical Corp. 15,395 2,922
  Innospec Inc. 27,969 2,583
  HB Fuller Co. 38,809 2,443
* O-I Glass Inc. 80,331 1,664
  Stepan Co. 15,526 1,428
  Materion Corp. 13,243 1,329
  Kaiser Aluminum Corp. 18,045 1,090
  Warrior Met Coal Inc. 32,738 1,073
  Hawkins Inc. 21,465 1,008
  Sylvamo Corp. 20,621 813
  Myers Industries Inc. 41,365 773
  American Vanguard Corp. 31,328 534

          Shares Market
Value
($000)
  Haynes International Inc.   9,524     414
* TimkenSteel Corp.  19,172     326
  Mercer International Inc.  19,552     169
  FutureFuel Corp.  16,589     141
            31,006
Real Estate (3.3%)
  Innovative Industrial Properties Inc.  31,582   2,088
  St. Joe Co.  38,275   1,780
  Four Corners Property Trust Inc.  63,591   1,634
  CareTrust REIT Inc.  69,819   1,355
  Tanger Factory Outlet Centers Inc.  64,947   1,323
  Getty Realty Corp.  30,804   1,056
  LTC Properties Inc.  29,807     957
  Urban Edge Properties  67,834     904
  Marcus & Millichap Inc. 28,103 825
* Veris Residential Inc. 49,984 808
  Kennedy-Wilson Holdings Inc. 47,535 733
  NexPoint Residential Trust Inc. 13,576 557
  Armada Hoffler Properties Inc. 50,026 552
  Community Healthcare Trust Inc. 15,904 522
  Uniti Group Inc. 120,251 447
  Universal Health Realty Income Trust 9,296 406
  Urstadt Biddle Properties Inc. Class A 18,597 360
  Saul Centers Inc. 8,287 280
            16,587
Utilities (2.8%)
  American States Water Co. 28,798 2,558
  SJW Group 30,117 2,305
  California Water Service Group 38,461 2,189
  Otter Tail Corp. 28,733 2,132
  Chesapeake Utilities Corp. 13,448 1,717
  Northwest Natural Holding Co. 25,413 1,085
  Middlesex Water Co. 12,783 1,040
  Unitil Corp. 18,064 952
            13,978
Total Common Stocks (Cost $502,071) 505,154
      Coupon      
Temporary Cash Investments (0.1%)
Money Market Fund (0.1%)
3,4 Vanguard Market Liquidity Fund
(Cost $537)
5.125%   5,370 537
Total Investments (99.9%) (Cost $502,608)   505,691
Other Assets and Liabilities—Net (0.1%)   482
Net Assets (100%)   506,173
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 $122,000.
2 Security value determined using significant unobservable inputs.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
4 Collateral of $130,000 was received for securities on loan.
    
  REIT—Real Estate Investment Trust.


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 Russell 2000 Index June 2023 10 876 (11)

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.  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 May 31, 2023, based on the inputs used to value them:
  Level 1
($000)
Level 2
($000)
Level 3
($000)
Total
($000)
Investments        
Assets        
Common Stocks 505,154 505,154
Temporary Cash Investments 537 537
Total 505,691 505,691
Derivative Financial Instruments        
Liabilities        
Futures Contracts1 11 11
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.