■当ファンドの仕組みは次の通りです。
商 品 分 類
信 託 期 間運 用 方 針主要投資対象主な投資制限分 配 方 針追加型投信／海外／株式／インデックス型
無期限(2017年9月29日設定)
楽天・全米株式インデックス・マザーファンド(以下｢マザーファンド｣といいます｡)受益証券への投資を通じて、主として上場投資信託証券に投資し、CRSP USトータル・マーケット・イ
ンデックス(円換算ベース)に連動する投資成果を目指します。
楽 天 ・ 全 米 株 式 マザーファンド受益証券を主
インデックス・ファンド 要投資対象とします。
上場投資信託証券を主要投資
マザーファンド
対象とします。
マザーファンド受益証券への投資割合には制限を設けません。
投資信託証券(上場投資信託
証券を除きます｡)への実質投資割合は、投資信託財産の純資産総額の5％以下とします。
外貨建資産への実質投資割合
楽 天 ・ 全 米 株 式には制限を設けません。
インデックス・ファンド
外国為替予約取引を行うことができます。
外国為替予約取引は、為替変動リスクを回避する目的以外には利用しません。
株式への直接投資は行いません。
デリバティブの直接利用は行いません。
投資信託証券(上場投資信託
証券を除きます｡)への投資割
合は、投資信託財産の純資産
総額の5％以下とします。
外貨建資産への投資割合には制限を設けません。
外国為替予約取引を行うことができます。
外国為替予約取引は、為替変
マザーファンド 動リスクを回避する目的以外には利用しません。
株式への直接投資は行いません。
デリバティブの利用は価格変動リスクおよび為替変動リス
クを回避する目的ならびに投資対象資産を保有した場合と同様の損益を実現する目的以外には利用しません。
分配対象額の範囲は、繰越分を含めた経費控除
後の利子・配当等収益および売買益(評価損益を含みます｡)等の全額とします。
収益分配金額は、委託者が基準価額水準、市況動向等を勘案して決定します。ただし、必ず分配を行うものではありません。
留保益の運用については特に制限を設けず、運用の基本方針に基づいた運用を行います。

運用報告書(全体版)

楽天・全米株式インデックス・ファンド＜愛称：楽天・VTI＞

第6期
決算日：2023年7月18日

受益者の皆様へ
平素は当ファンドにご投資いただき、厚く御礼申し上げます。
さて、当ファンドは、このたび上記決算を行いました
ので、当期間の運用状況につきまして、ご報告申し上げます。
今後とも一層のご愛顧を賜りますよう、お願い申し上げます。

楽天投信投資顧問株式会社
https://www.rakuten-toushin.co.jp/
東京都港区南青山二丁目6番21号
本資料(運用報告書(全体版))の記載内容のお問い合
わせ先
TEL：03－6432－7746
受付時間：営業日の午前9時から午後5時まで※お客様のお取引内容等につきましては販売会社に
お問い合わせください。

■本資料の表記に関する注記
・金額等の数値は表記未満切捨または四捨五入により表示しております。このため、各項目の合計の値が合計欄と一致しないことがあります。
・－印は、組入・売買が無いことを示します。

－ 0 －最近5期の運用実績
基
決

算

期

2期(2019年7月16日)
3期(2020年7月15日)
4期(2021年7月15日)
5期(2022年7月15日)
6期(2023年7月18日)(分配落)円
11,566
12,263
17,713
18,972
22,886

準 価 額
税
込 期
中
分 配 金 騰 落 率
円
％
0
3.6
0
6.0
0
44.4
0
7.1
0
20.6

ベンチマーク
投資信託
純 資 産
株式先物
券
期
中 組入比率 証
総
額
組入比率
騰 落 率
％
％
％
百万円
11,7304.1－
100.1
48,495
12,4846.4－
99.9
115,987
18,091
44.9
1.2
98.9
313,374
19,4787.7
1.4
99.2
604,018
23,57421.0
1.3
98.7 1,024,051(注1) 基準価額の騰落率は分配金込み。
(注2) 株式先物組入比率＝買建比率－売建比率(注3) 当ファンドはマザーファンドを組入れますので、｢株式先物組入比率｣、｢投資信託証券組入比率｣は、実質組入比率を記載しています。

ベンチマークは、CRSP USトータル・マーケット・インデックス(円換算ベース)です。
｢CRSP USトータル・マーケット・インデックス」は、米国株式市場の大型株から小型株までを網羅し、投資可能銘柄のほぼ100％をカバーした時価総額加重平均型の株価指数です。
なお、「CRSP USトータル・マーケット・インデックス（円換算ベース）」は、委託会社が「CRSP USトータ
ル・マーケット・インデックス」に日々の為替レートを乗じて算出したものです。

当期中の基準価額と市況の推移
基
年

月

準

日

(期
首)
2022年 7月15日
7月末
8月末
9月末
10月末
11月末
12月末
2023年 1月末
2月末
3月末
4月末
5月末
6月末
（期
末）
2023年 7月18日

価額

ベンチマーク

騰 落 率

騰 落 率

円
18,97219,80820,046
19,10920,991
19,94018,535
19,13019,877
19,62820,052
21,28823,168

％
－
4.4
5.7
0.7
10.6
5.1
△2.3
0.8
4.8
3.5
5.7
12.2
22.1

19,47820,331
20,581
19,631
21,58820,49919,05919,667
20,443
20,19020,636
21,90323,860

％
－
4.4
5.7
0.8
10.8
5.2
△2.2
1.0
5.0
3.7
5.9
12.4
22.5

22,886

20.6

23,57421.0

投 資 信 託株 式 先 物証券
組 入 比 率組 入 比 率
％
％
1.4
99.2
1.3
98.7
1.3
98.7
1.6
98.5
1.6
98.5
1.5
98.5
1.4
98.6
1.4
98.6
1.4
98.7
1.3
98.7
1.3
98.7
1.4
98.6
1.3
98.7
1.3

98.7

(注1) 期末基準価額は分配金込み、騰落率は期首比。
(注2) 株式先物組入比率＝買建比率－売建比率(注3) 当ファンドはマザーファンドを組入れますので、｢株式先物組入比率｣、｢投資信託証券組入比率｣は、実質組入比率を記載しています。

－ 1 －当期中の運用経過と今後の運用方針■基準価額等の推移(注1) 分配金再投資基準価額は、分配金(税込)を分配時に再投資したものとみなして計算したもので、ファンド運用の実質的なパフォーマンス
を示すものです。
(注2) 分配金を再投資するかどうかについてはお客様がご利用のコースにより異なります。また、ファンドの購入金額により課税条件も異なります。従って、各個人のお客様の損益の状況を示すものではありません。
(注3) ベンチマークは、CRSP USトータル・マーケット・インデックス(円換算ベース)です。
(注4) 分配金再投資基準価額およびベンチマークは、期首の基準価額を起点として指数化しています。

■基準価額の主な変動要因
当ファンドは｢楽天・全米株式インデックス・マザーファンド｣受益証券(以下、｢マザーファンド｣)を通じて米ドル建ての｢バンガード®・トータル・ストック・マーケットETF｣(以下、｢投資先ETF｣)を実質的な投資対象とする
ため、投資先ETFの価格変動および米ドル／円相場の動向が基準価額の主な変動要因となります(マザーファンド
を通じて純資産総額の一部を実質的に海外株価指数先物に投資しているため、海外株価指数先物の価格変動の影
響も受けます)。
当期は米国株式市場が堅調に推移するなか、投資先ETFが前期末比で大きく上昇し、基準価額は大幅に上昇しました。一方、米ドル／円相場は前期末比ほぼ横ばいで期末を迎えたため、為替要因の基準価額への影響は軽微なものにとどまりました。

－ 2 －■投資環境
当期の米国株式市場は、前期末比でまとまった上昇となりました。
米国でのインフレ鎮静化への期待感や4-6月期の米企業決算が事前に懸念されていたよりも順調な結果となったことなどを背景に米国株式市場は堅調な滑り出しとなりましたが、市場の楽観的な見通しをけん制するかたち
でFRB(米連邦準備制度理事会)高官によるタカ派(利上げに前向きな)発言が相次いだほか、インフレ高止まりによる利上げ継続とそれに伴う景気減速への警戒感が高まったことから、2022年10月中旬にかけて下落基調となりました。
しかし、2022年10月米消費者物価指数(CPI)が市場予想を下回ったことなどを背景に長期金利の上昇基調が一服すると株式市場は反転し、その後もインフレ指標の低下や景況感の改善などを材料に、大幅な景気減速を回避
しながらインフレ抑制が進むソフトランディング(軟着陸)期待が高まるなか、株式市場は堅調な展開となりました。2023年3月には、米国中堅銀行の経営破綻やスイスの大手金融機関の経営悪化懸念から株式市場は一時軟調に推移するも、米国やスイスの金融当局による迅速な政策対応を受けてすぐに反発し、大手テクノロジー企業を中心に予想を上回る企業決算が発表されたことや、底堅い経済指標を受けて景気後退懸念が和らいだことなどが支援材料となり、期末まで騰勢を維持しました。
米ドル／円相場は、期初1米ドル＝139円近辺でスタートした後、上昇を続ける米長期金利と歩調を合わせる形
で米ドル高／円安が進行し、2022年10月には1990年以来32年ぶりに150円を突破しました。しかし、その後は日本政府・日本銀行が24年ぶりとなるドル売り／円買い介入を実施したほか、米国のインフレピークアウト期待を背景とする米長期金利の上昇一服や日本銀行による予想外の政策修正などを受けて円高が加速し、2023年1月には一時127円台まで米ドル安／円高が進行しました。その後、3月にも、米国中堅銀行の経営破綻やスイスの大手
金融機関の経営悪化懸念を受けた市場のリスク回避的な動きから円高圧力が強まる局面が見られました。しかし、日本銀行の次期総裁に選ばれた植田氏が現行の金融緩和政策を支持したことから日本銀行による早期の政策修正
観測が後退したほか、良好な米経済指標や相次ぐFRB高官のタカ派発言などを受けて米金利が上昇基調となったことなどを背景に、再び米ドル高／円安基調となり、期末には139円近辺で推移しました。
■当ファンドのポートフォリオ
追加設定・解約による資金フローを鑑みながら、マザーファンドへの投資を通じて、投資先ETFの組入比率を高位に維持しました。
■当ファンドのベンチマークとの差異
以下のグラフは、当ファンドの基準価額(分配金込み)とベンチマークの騰落率の対比です。
当期の基準価額の騰落率は＋20.6％上昇し、ベンチマーク比では△0.4％となりました。主な差異要因として
は、マザーファンドにおける継続的な資金流出入に伴う投資先ETFの売買執行コストの積み重なりや投資先ETFからの分配金に対する課税、当ファンドにおける信託報酬等の要因が挙げられます。

－ 3 －

■分配金
運用の基本方針等を勘案し、収益分配は見送らせていただきました。なお、留保益の運用については、特に制限を設けず、元本部分と同一の運用を行います。
●分配原資の内訳項
当期分配金(対基準価額比率)
当期の収益
当期の収益以外
翌期繰越分配対象額

目
(円)
(％)
(円)
(円)
(円)

(1万口当たり・税込)
第6期
2022年7月16日～2023年7月18日
－
(－)
－
－
12,885(注1) ｢対基準価額比率｣は｢当期分配金｣の期末基準価額(分配金込み)に対する比率であり、ファンドの収益率とは異なります。
(注2) ｢当期の収益｣は経費控除後の配当等収益および経費控除後の有価証券売買等損益、「当期の収益以外｣は収益調整金および分配準備積立金です。
(注3) ｢当期の収益｣および｢当期の収益以外｣は、円未満を切捨てて表示しているため、合計した額が｢当期分配金｣と一致しない場合があります。

■今後の運用方針
引き続きマザーファンドを通じて、投資先ETFの組入比率を高位に維持します。

－ 4 －1万口当たりの費用明細
当期項

目

2022年7月16日～2023年7月18日
金額(a) 信託報酬

項 目 の 概 要

比率27円

(投信会社)(11)

0.133％ (a) 信託報酬＝期中の平均基準価額×信託報酬率※期中の平均基準価額は20,131円です。
(0.055) ・委託した資金の運用の対価(販売会社)(11)(0.055)(受託会社)(4)(0.022)(b) 売買委託手数料

0

0.000

(投資信託証券)(0)(0.000)(先物・オプション)(0)(0.000)(c) 有価証券取引税

0

0.000

(投資信託証券)(0)(0.000)(d) その他費用

5

0.024

(保管費用)(3)(0.014)(監査費用)(0)(0.001)(印刷費用)(0)(0.000)

(その他)

(2)

(0.008)

32

0.157

合

計

・購入後の情報提供、交付運用報告書等各種書類の送付、口座内でのファンドの管理等の対価
・運用財産の管理、委託会社からの指図の実行の対価
期中の売買委託手数料
期中の平均受益権口数
売買委託手数料は、有価証券等の売買の際、売買仲介人に支払う手数料(b) 売買委託手数料＝期中の有価証券取引税
期中の平均受益権口数
有価証券取引税は、有価証券の取引の都度発生する取引に関する税金
期中のその他費用(d) その他費用＝期中の平均受益権口数
・保管費用は、海外における保管銀行等に支払う有価証券等の保管および資金の送金・資産の移転等に要する費用・監査費用は、監査法人等に支払うファンドの監査に係る費用・印刷費用は、有価証券届出書、目論見書、運用報告書等の作成、印刷および提出等に係る費用・その他は、金銭信託への預入金額に対する手数料、その他投資信託財産の運営にかかる費用等(c) 有価証券取引税＝(注1) 期中の費用(消費税等のかかるものは消費税等を含む)は、追加・解約により受益権口数に変動があるため、簡便法により算出した結果です。
(注2) 各金額は各項目ごとに円未満は四捨五入してあります。
(注3) 売買委託手数料、有価証券取引税およびその他費用は、このファンドが組み入れているマザーファンドが支払った金額のうち、当ファン
ドに対応するものを含みます。
(注4) 各比率は1万口当たりのそれぞれの費用金額を期中の平均基準価額で除して100を乗じたものです。

－ 5 －－ 6 －

売買および取引の状況■親投資信託受益証券の設定、解約状況
当

楽天・全米株式インデックス・マザーファンド

設
口
数
千口
132,211,951

期

定
金

額
千円
267,259,098

解数
千口
4,653,502

約
金

当
期
数
千口
443,715,154

末
評 価

口

額
千円
9,641,299(注) 単位未満は切捨て。

利害関係人※との取引状況等
該当事項はありません。
※利害関係人とは、投資信託及び投資法人に関する法律第11条第1項に規定されている利害関係人です。

自社による当ファンドの設定・解約状況
該当事項はありません。

組入資産の明細■親投資信託残高
前口
楽天・全米株式インデックス・マザーファンド

期

末
数
千口
316,156,705

口額千円
1,024,050,205(注1) 単位未満は切捨て。
(注2) 親投資信託の当期末現在の受益権口数は、443,715,154千口です。

投資信託財産の構成
項

当

目

評 価 額

楽天・全米株式インデックス・マザーファンド
短
期
金
融
資
産
、
そ
の
他
投
資
信
託
財
産
総
額

千円
1,024,050,205
1,147,291
1,025,197,496

期

末
比

率
％
99.9
0.1
100.0

(注1) 評価額の単位未満は切捨て。
(注2) 楽 天 ・ 全 米 株 式 イ ン デ ッ ク ス ・ マ ザ ー フ ァ ン ド に お い て 、 当 期 末 に お け る 外 貨 建 資 産 (1,016,918,534 千 円 ) の 投 資 信 託 財 産 総 額(1,028,016,671千円)に対する比率は、98.9％です。
(注3) 外貨建資産は、当期末の時価をわが国の対顧客電信売買相場の仲値により邦貨換算したものです。なお、当期末における邦貨換算レート
は、1米ドル＝138.88円です。

－ 7 －資産、負債、元本及び基準価額の状況ならびに損益の状況■損益の状況

■資産、負債、元本及び基準価額の状況（2023年7月18日現在)
項

目

当 期 末

(Ａ) 資

産

1,025,197,496,629円

コ ー ル ・ ロ ー ン 等

1,147,290,747

楽天・全米株式インデックス・マザーファンド(評価額)

1,024,050,205,882

(Ｂ) 負

債

1,146,208,456

約

金

526,935,243

報酬

577,171,494

息

3,143

そ の 他 未 払 費 用

42,098,576(Ｃ) 純 資 産 総 額(Ａ－Ｂ)

1,024,051,288,173

未

払

未

払

未

解
信

託

払

利

元

本

447,466,933,484

次 期 繰 越 損 益 金

576,584,354,689

(Ｄ) 受

益

権

総

口

数

447,466,933,484口

1万口当たり基準価額(Ｃ／Ｄ)(注) 期首元本額
期中追加設定元本額期中一部解約元本額<分配金の計算過程>
項目(Ａ)配当等収益額（費用控除後）(Ｂ)有価証券売買等損益額（費用控除後・繰越欠損金補填後）(Ｃ)収益調整金額(Ｄ)分配準備積立金額(Ｅ)分配対象収益額（Ａ＋Ｂ＋Ｃ＋Ｄ）(Ｆ)期末残存口数(Ｇ)収益分配対象額（１万口当たり）(Ｅ／Ｆ×10,000）(Ｈ)分配金額（１万口当たり）(Ｉ)収益分配金金額(Ｆ×Ｈ／10,000）

22,886円
318,376,142,756円
178,627,442,703円
49,536,651,975円(自2022年7月16日 至2023年7月18日)
項
目
(Ａ) 配
当
等
収
益
支
払
利
息
(Ｂ) 有 価 証 券 売 買 損 益
売
買
益
売
買
損
(Ｃ) 信
託
報
酬
等
(Ｄ) 当 期 損 益 金(Ａ＋Ｂ＋Ｃ)(Ｅ) 前 期 繰 越 損 益 金(Ｆ) 追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)
(Ｇ)
計
(Ｄ＋Ｅ＋Ｆ)
(Ｈ) 収
益
分
配
金
次 期 繰 越 損 益 金(Ｇ＋Ｈ)
追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)
分 配 準 備 積 立 金

当期△945,411円△945,411
156,478,121,162
163,011,224,622△6,533,103,460△1,117,711,113
155,359,464,638
71,212,873,014
350,012,017,037(215,649,566,771)(134,362,450,266)
576,584,354,689
0
576,584,354,689
350,012,017,037(216,118,770,481)(133,893,246,556)
226,572,337,652(注1) 損益の状況の中で(B)有価証券売買損益は期末の評価替えによるものを含みます。
(注2) 損益の状況の中で(C)信託報酬等には信託報酬に対する消費税等相当額を含めて表示しています。
(注3) 損益の状況の中で(F)追加信託差損益金とあるのは、信託の追加設定の際、追加設定をした価額から元本を差し引いた差額分をいいます。

当期
11,892,333,265円
143,467,131,373円
350,012,017,037円
71,212,873,014円
576,584,354,689円
447,466,933,484口
12,885.49円
－円
－円

お知らせ
該当事項はありません。
－ 8 －楽天・全米株式インデックス・マザーファンド
第6期(2023年7月18日)≪運用報告書≫●当マザーファンドの仕組みは次の通りです。
信

託

期

間

無期限(2017年9月29日設定)

運

用

方

針

米国株式市場の動きをとらえることを目指して、CRSP USトータル・マーケット・インデックス(円換算ベース)に連動する投資成果を目標として運用を行います。

主 な 投 資 対 象

上場投資信託証券を主要投資対象とします。

主 な 投 資 制 限

投資信託証券(上場投資信託証券を除きます｡)への投資割合は、投資信託財産の純資産総額の5％以下とします。
外貨建資産への投資割合には制限を設けません。
外国為替予約取引を行うことができます。
外国為替予約取引は、為替変動リスクを回避する目的以外には利用しません。
株式への直接投資は行いません。
デリバティブの利用は価格変動リスクおよび為替変動リスクを回避する目的ならびに投資対象資産を保有した場合と同様の損益を実現する目的以外には利用しません。

当マザーファンドはこのたび上記決算を行いましたので、期中の運用状況をご報告申し上げます。

楽天投信投資顧問株式会社
東京都港区南青山二丁目6番21号
URL： https://www.rakuten-toushin.co.jp/－ 9 －最近5期の運用実績
基
決

算

準

期

2期(2019年7月16日)
3期(2020年7月15日)
4期(2021年7月15日)
5期(2022年7月15日)
6期(2023年7月18日)

円
11,59812,314
17,812
19,10523,079

価 額
期
中
騰 落 率
％
3.8
6.2
44.6
7.3
20.8

ベンチマーク期中騰 落 率％
11,730
4.1
12,484
6.4
18,09144.9
19,478
7.7
23,574
21.0

株式先物
組入比率
％
－
－
1.2
1.4
1.3

投資信託
証
券
組入比率
％
100.1
99.9
98.9
99.2
98.7

純 資 産
総
額
百万円
48,492
115,983
313,382
604,005
1,024,063(注) 株式先物組入比率＝買建比率－売建比率

ベンチマークは、CRSP USトータル・マーケット・インデックス(円換算ベース)です。
｢CRSP USトータル・マーケット・インデックス」は、米国株式市場の大型株から小型株までを網羅し、投資可能銘柄のほぼ100％をカバーした時価総額加重平均型の株価指数です。
なお、「CRSP USトータル・マーケット・インデックス(円換算ベース)」は、委託会社が「CRSP USトータ
ル・マーケット・インデックス」に日々の為替レートを乗じて算出したものです。

当期中の基準価額と市況の推移
年

月

日

(期
首)
2022年 7月15日
7月末
8月末
9月末
10月末
11月末
12月末
2023年 1月末
2月末
3月末
4月末
5月末
6月末
（期
末）
2023年 7月18日

円
19,105
19,94820,19019,24921,147
20,091
18,677
19,27920,034
19,786
20,215
21,46423,362

％
－
4.4
5.7
0.8
10.7
5.2
△2.2
0.9
4.9
3.6
5.8
12.3
22.3

19,47820,331
20,581
19,631
21,58820,49919,05919,667
20,443
20,19020,636
21,90323,860

％
－
4.4
5.7
0.8
10.8
5.2
△2.2
1.0
5.0
3.7
5.9
12.4
22.5

％
1.4
1.3
1.3
1.6
1.6
1.5
1.4
1.4
1.4
1.3
1.3
1.4
1.3

投資信託
証
券
組入比率
％
99.2
98.7
98.7
98.5
98.5
98.5
98.6
98.6
98.7
98.7
98.7
98.6
98.7

23,07920.8

23,574

21.0

1.3

98.7

基

準

価

額

ベンチマーク

騰 落 率

騰 落 率

(注1) 騰落率は期首比。
(注2) 株式先物組入比率＝買建比率－売建比率－ 10 －

株式先物
組入比率

当期中の運用経過と今後の運用方針■基準価額等の推移（注1）ベンチマークは、CRSP USトータル・マーケット・インデックス(円換算ベース)です。
（注2）ベンチマークは、期首の基準価額を起点として指数化しています。

■基準価額の主な変動要因
当ファンドは米ドル建ての｢バンガードⓇ・トータル・ストック・マーケットETF｣(以下、｢投資先ETF｣)を投資対象とするため、投資先ETFの価格変動および米ドル／円相場の動向が基準価額の主な変動要因となります(純資
産総額の一部を海外株価指数先物に投資しているため、海外株価指数先物の価格変動の影響も受けます)。
当期は米国株式市場が堅調に推移するなか、投資先ETFが前期末比で大きく上昇し、基準価額は大幅に上昇しました。一方、米ドル／円相場は前期末比ほぼ横ばいで期末を迎えたため、為替要因の基準価額への影響は軽微なものにとどまりました。
■投資環境
当期の米国株式市場は、前期末比でまとまった上昇となりました。
米国でのインフレ鎮静化への期待感や4-6月期の米企業決算が事前に懸念されていたよりも順調な結果となったことなどを背景に米国株式市場は堅調な滑り出しとなりましたが、市場の楽観的な見通しをけん制するかたち
でFRB(米連邦準備制度理事会)高官によるタカ派(利上げに前向きな)発言が相次いだほか、インフレ高止まりによる利上げ継続とそれに伴う景気減速への警戒感が高まったことから、2022年10月中旬にかけて下落基調となりました。
しかし、2022年10月米消費者物価指数(CPI)が市場予想を下回ったことなどを背景に長期金利の上昇基調が一服すると株式市場は反転し、その後もインフレ指標の低下や景況感の改善などを材料に、大幅な景気減速を回避
しながらインフレ抑制が進むソフトランディング(軟着陸)期待が高まるなか、株式市場は堅調な展開となりました。2023年3月には、米国中堅銀行の経営破綻やスイスの大手金融機関の経営悪化懸念から株式市場は一時軟調に推移するも、米国やスイスの金融当局による迅速な政策対応を受けてすぐに反発し、大手テクノロジー企業を中心に予想を上回る企業決算が発表されたことや、底堅い経済指標を受けて景気後退懸念が和らいだことなどが支援材料となり、期末まで騰勢を維持しました。

－ 11 －

米ドル／円相場は、期初1米ドル＝139円近辺でスタートした後、上昇を続ける米長期金利と歩調を合わせる形
で米ドル高／円安が進行し、2022年10月には1990年以来32年ぶりに150円を突破しました。しかし、その後は日本政府・日本銀行が24年ぶりとなるドル売り／円買い介入を実施したほか、米国のインフレピークアウト期待を背景とする米長期金利の上昇一服や日本銀行による予想外の政策修正などを受けて円高が加速し、2023年1月には一時127円台まで米ドル安／円高が進行しました。その後、3月にも、米国中堅銀行の経営破綻やスイスの大手
金融機関の経営悪化懸念を受けた市場のリスク回避的な動きから円高圧力が強まる局面が見られました。しかし、日本銀行の次期総裁に選ばれた植田氏が現行の金融緩和政策を支持したことから日本銀行による早期の政策修正
観測が後退したほか、良好な米経済指標や相次ぐFRB高官のタカ派発言などを受けて米金利が上昇基調となったことなどを背景に、再び米ドル高／円安基調となり、期末には139円近辺で推移しました。
■当ファンドのポートフォリオ
投資先ETFの組入比率を高位に維持しました。
■当ファンドのベンチマークとの差異
以下のグラフは、当ファンドの基準価額とベンチマークの騰落率の対比です。
当期の基準価額の騰落率は＋20.8％上昇し、ベンチマーク比では△0.2％となりました。主な差異要因として
は、継続的な資金流出入に伴う投資先ETFの売買執行コストの積み重なりや投資先ETFからの分配金に対する課税等の要因が挙げられます。

■今後の運用方針
引き続き投資先ETFの組入比率を高位に維持します。

－ 12 －

1万口当たりの費用明細
当期

項目

金額

比率
(a)売買委託手数料
0円
0.000％(投資信託証券)(0)(0.000)(先物・オプション)(0)(0.000)(b)有価証券取引税
00.000(投資信託証券)(0)(0.000)(c)その他費用
30.014(保管費用)(3)(0.014)(その他)(0)(0.000)合計
3
0.014
期中の平均基準価額は20,286円です。
(注1) 期中の費用(消費税等のかかるものは消費税等を含む)は、追加・解約により受益権口数に変動があるため、簡便法により算出した結果です。なお、費用項目については5ページ(1万口当たりの費用の明細の項目の概要)をご参照下さい。
(注2) 各金額は各項目ごとに円未満は四捨五入してあります。
(注3) 各比率は1万口当たりのそれぞれの費用金額を期中の平均基準価額で除して100を乗じたものです。
(注4) 各項目の費用は、このファンドが組み入れている投資信託証券が支払った費用を含みません。当該投資信託証券の直近の計算期末時点における｢1万口当たりの費用明細｣が取得できるものについては｢組入ファンドの概要｣に表示することとしております。

売買および取引の状況■投資信託証券
当買単位数又は口数
千口
外アメリカ バンガードⓇ・トータル・ストック・マーケットETF
9,900
国
小
計
9,900

付
金

額
千米ドル
1,981,584
1,981,584

期
売単位数又は口数
千口
349
349

付
金

額
千米ドル
72,04572,045(注1) 金額は受渡し代金。
(注2) 単位未満は切捨て。

■先物取引の種類別取引状況
当
種
外
国

株

式

類

先

別

物

取

引

買
新規買付額
百万円
46,778(注1) 金額は受渡し代金。
(注2) 単位未満は切捨て。

－ 13 －

建
決

済 額
百万円
43,408

期
売
新規売付額
百万円
－

建
決

済 額
百万円
－

利害関係人※との取引状況等
該当事項はありません。
※利害関係人とは、投資信託及び投資法人に関する法律第11条第1項に規定されている利害関係人です。

組入資産の明細■外国投資信託証券
期 首 (前 期 末 )
銘
ア
メ
リ
カ
合

柄

口
銘

数
柄

期

末
評
価
額
外貨建金額
邦貨換算金額
千米ドル
千円

単位数又は口数

単位数又は口数

千口

千口22,82732,378

7,278,782

1,010,877,353

22,8271

32,3781

7,278,782－

1,010,877,353<98.7％>

バンガードⓇ・トータル・ストック・マーケットETF
計

当

・ 金 額
数 <比 率>(注1) 邦貨換算金額は期末の時価をわが国の対顧客電信売買相場の仲値により、邦貨換算したものです。
(注2) < >内は純資産総額に対する各国別投資信託証券評価額の比率です。
(注3) 単位数又は口数、評価額の単位未満は切捨て。

■先物取引の銘柄別期末残高
銘

柄

当

別

期

末

買 建 額

外 国
株式先物取引
S&P 500 EMIN

売 建 額
百万円

百万円

13,344－(注) 単位未満は切捨て。

投資信託財産の構成
項

投
短
投

資
期
資

信
金

融
信

当

目

託
資
託

受
産
財

評 価 額
益

、

そ
産

証
の
総

券
他
額

千円
1,010,877,353
17,139,318
1,028,016,671

期

末
比

率
％
98.3
1.7
100.0

(注1) 評価額の単位未満は切捨て。
(注2) 当期末における外貨建資産(1,016,918,534千円)の投資信託財産総額(1,028,016,671千円)に対する比率は、98.9％です。
(注3) 外貨建資産は、当期末の時価をわが国の対顧客電信売買相場の仲値により邦貨換算したものです。なお、当期末における邦貨換算レート
は、1米ドル＝138.88円です。

－ 14 －

資産、負債、元本及び基準価額の状況ならびに損益の状況■損益の状況

■資産、負債、元本及び基準価額の状況(2023年7月18日現在)
項

目

当 期 末

(Ａ) 資

産

1,028,072,212,006円

コ ー ル ・ ロ ー ン 等

11,546,112,799

投資信託受益証券(評価額)1,010,877,353,819

未

収

入

金

差 入 委 託 証 拠 金
(Ｂ) 負
未

払

652,814,280
4,995,931,108

債

4,008,630,758

金

4,008,611,183

息

19,575(Ｃ) 純 資 産 総 額(Ａ－Ｂ)

1,024,063,581,248

未

払

利

元

本

443,715,154,852

次 期 繰 越 損 益 金580,348,426,396

(Ｄ) 受

益

権

総

口

数

443,715,154,852口

1万口当たり基準価額(Ｃ／Ｄ)

23,079円(注1) 期首元本額
316,156,705,765円
期中追加設定元本額
132,211,951,168円
期中一部解約元本額
4,653,502,081円(注2) 当期末における当マザーファンドを投資対象とする投資信託の元本額
楽天・全米株式インデックス・ファンド 443,715,154,852円(自2022年7月16日 至2023年7月18日)
項
目
(Ａ) 配
当
等
収
益
受
取
配
当
金
受
取
利
息
そ の 他 収 益 金
支払利息(Ｂ) 有 価 証 券 売 買 損 益
売
買
益
売
買
損
(Ｃ) 先 物 取 引 等 取 引 損 益
取
引
益
取
引
損
(Ｄ) そ
の
他
費
用
(Ｅ) 当期損益金(Ａ＋Ｂ＋Ｃ＋Ｄ)(Ｆ) 前 期 繰 越 損 益 金(Ｇ) 追 加 信 託 差 損 益 金(Ｈ) 解 約 差 損 益 金(Ｉ)
計 (Ｅ＋Ｆ＋Ｇ＋Ｈ)
次 期 繰 越 損 益 金(Ｉ)当期
11,989,233,814円
11,885,580,549
16,465,778
93,409,113△6,221,626
148,724,431,988
148,746,874,381△22,442,393
1,835,614,805
2,462,897,573△627,282,768△108,605,201
162,440,675,406
287,848,401,077
135,047,146,832△4,987,796,919
580,348,426,396
580,348,426,396(注1) 損益の状況の中で(B)有価証券売買損益及び(C)先物取引等取引損益は期末の評価替えによるものを含みます。
(注2) 損益の状況の中で(G)追加信託差損益金とあるのは、信託の追加設定の際、追加設定をした価額から元本を差し引いた差額分をいいます。
(注3) 損益の状況の中で(H)解約差損益金とあるのは、中途解約の際、元本から解約価額を差し引いた差額分をいいます。

お知らせ
該当事項はありません。

－ 15 －

■組入ファンドの概要
以下は、『楽天・全米株式インデックス・マザーファンド』が組み入れている投資信託証券(ファンド)の状況として、当期末において入手できる直近の情報を掲げております。
ファンド名

決算日

バンガード ・トータル・ストック・マーケットETF

2022年12月31日Ⓡ－ 16 －

バンガード®・トータル・ストック・マーケットETF●当ファンドの仕組みは次の通りです｡
運
用会
社
主 要 投 資 対 象
運 用 の 基 本 方 針
管 理 報 酬 等 (年)

ザ・バンガード・グループ・インク
米国株式
CRSP USトータル・マーケット・インデックスに連動する投資成果を目指す
0.03％－ 17 －

バンガード®・トータル・ストック・マーケットETF■損益計算書（2022年12月31日に終了する計算期間）Year Ended
December 31, 2022($000)

Investment Income
Income18,676,000

Dividends—Unaffiliated Issuers1
Dividends—Affiliated Issuers—

Interest—Unaffiliated Issuers

3,395Interest—Affiliated Issuers

104,414

Securities Lending—Net

247,749

Total Income

19,031,558

Expenses
The Vanguard Group
Investment Advisory Services

23,150Management and Administrative—Investor Shares

40,508

Management and Administrative—ETF Shares

63,071

Management and Administrative—Admiral Shares

101,568

Management and Administrative—Institutional Shares

21,299Management and Administrative—Institutional Plus Shares

70,619Management and Administrative—Institutional Select Shares

3,905

Marketing and Distribution—Investor Shares

1,876Marketing and Distribution—ETF Shares

9,890

Marketing and Distribution—Admiral Shares

10,123Marketing and Distribution—Institutional Shares

3,051

Marketing and Distribution—Institutional Plus Shares

10,121Marketing and Distribution—Institutional Select Shares

6

Custodian Fees

1,961

Auditing Fees

238

Shareholders’ Reports—Investor Shares

82

Shareholders’ Reports—ETF Shares

2,979

Shareholders’ Reports—Admiral Shares

1,274

Shareholders’ Reports—Institutional Shares

653

Shareholders’ Reports—Institutional Plus Shares

2,097

Shareholders’ Reports—Institutional Select Shares—

Trustees’ Fees and Expenses

449

Other Expenses

131

Total Expenses

369,051

Expenses Paid Indirectly(313)

Net Expenses

368,738Net Investment Income

18,662,820

Realized Net Gain (Loss)
Capital Gain Distributions Received—Affiliated Issuers

23－ 18 －

バンガード®・トータル・ストック・マーケットETF

Statement of Operations (continued)
Year Ended
December 31, 2022($000)
Investment Securities Sold—Unaffiliated Issuers2

6,536,956

Investment Securities Sold—Affiliated Issuers(4,131)

Futures Contracts(889,682)

Swap Contracts

21,069Realized Net Gain (Loss)

5,664,235

Change in Unrealized Appreciation (Depreciation)
Investment Securities—Unaffiliated Issuers(294,093,642)

Investment Securities—Affiliated Issuers

3,468

Futures Contracts(288,691)

Swap Contracts(86,101)

Change in Unrealized Appreciation (Depreciation)(294,464,966)

Net Increase (Decrease) in Net Assets Resulting from Operations(270,137,911)

1 Dividends are net of foreign withholding taxes of $1,329,000.
2 Includes $19,138,772,000 of net gain (loss) resulting from in-kind redemptions.

－ 19 －

As of December 31, 2022

バンガード®・トータル・ストック・マーケットETF■組入銘柄

（2022年12月31日現在）

As of December 31, 2022
SharesMarketValue($000)

SharesCommon Stocks (99.3%)
Basic Materials (2.2%)
Linde plc
Air Products andChemicals Inc.
FreeportMcMoRan Inc.
Newmont Corp.
Common Stocks (99.3%)
Ecolab Inc.
Basic Materials
Dow Inc. (2.2%)
Linde
Nucor plc
Corp.
Air
Products
Fastenal
Co. and
ChemicalsInternationalInc.
Flavors
Freeport& Fragrances Inc.
McMoRanCorp.
Inc.
Albemarle
Newmont Corp.
LyondellBasell
EcolabInc. NV
Industries
Dow
Inc.
Class
A
Nucor
Corp.
CF
Industries
HoldingsCo.
Inc.
Fastenal
Steel
Dynamics
Inc.
International
Flavors&
FragrancesInc.
FMC Corp.
Albemarle
MosaicCo.Corp.
LyondellBasell
Avery
DennisonIndustries NV
Corp.
Class A
International
Paper
CF
Industries
Co.
Holdings
Inc.
Reliance Steel &SteelDynamics
Aluminum
Co. Inc.
FMC
Corp.Corp.
CelaneseClass ACo.
MosaicEastmanChemical
Avery
Dennison
Co.
Corp.
*
Cleveland-Cliffs
Inc.
International
Paper
Co. Corp.
Alcoa
Reliance
Steel
Royal
Gold
Inc.&
Aluminum
Olin
Corp. Co.
Celanese
Corp.
*
RBC Bearings Inc.
Class A Inc.
Valvoline
Eastman ChemicalCommercial
MetalsCo.
Co.
*
Cleveland-Cliffs
Inc.
UnitedStates Steel
Alcoa
Corp.Corp.
Royal Gold Inc.
Olin Corp.
*
RBC Bearings Inc.
Valvoline Inc.
Commercial Metals
Co.
United States Steel
Corp.

*

15,019,901

4,899,191

6,747,414
43,468,283
Shares24,150,124
7,794,372
21,400,761
15,019,901
7,802,794
17,419,126
6,747,414

2,079,958
MarketValue
1,651,795($000)
1,139,886
1,134,549
1,078,384
4,899,191
1,028,486
824,273
2,079,958

7,755,009
43,468,283
3,563,120
24,150,124
7,794,372
21,400,761
7,923,592
7,802,794
5,969,622
17,419,126
5,071,745
7,755,009
3,828,433
3,563,120
10,349,890

813,035
1,651,795
772,698
1,139,886
1,134,549
1,078,384
657,896
1,028,486
508,612824,273495,510
813,035
477,788772,698
454,050

2,463,992
7,923,592
10,825,230
5,969,622
5,071,745
1,783,267
3,828,433
2,970,544
10,349,890

445,983
657,896374,878508,612495,510361,005
477,788
303,708454,050

3,644,316
2,463,992
15,667,173
10,825,230
5,374,987
2,001,237
1,783,267
4,161,097
884,3902,970,544
5,296,473

296,793445,983
252,398
374,878
244,401
225,579
361,005
220,289
185,147
303,708
172,930

3,644,316
3,568,887
15,667,173
5,374,987
6,405,607
2,001,237
4,161,097
884,390
5,296,473

296,793
172,377
252,398
244,401
160,460
225,579
220,289
185,147
172,930

*

*

*
*

*

*
*

*

*

*,1

*,1

3,568,887

172,377

6,405,607

160,460

Ashland Inc.
1,478,030
Univar Solutions Inc. 4,954,403
Hexcel Corp.
2,546,678
Huntsman Corp.
5,261,743
UFP Industries Inc.
1,785,831
Timken Co.
1,994,295
Chemours Co.
4,597
,360
SharesElement
Ashland
Inc.Inc.
1,478,030
Solutions
6,628,259
Univar Solutions
Balchem
Corp. Inc. 4,954,403
980,941
HexcelCorp.
Corp.
2,546,678
Cabot
1,708,327
Huntsman
5,261,743
LiventCorp.Corp.
5,439,749
UFP Industries
1,785,831
Westlake
Corp. Inc.
971,987
TimkenMining
Co. Co.
1,994,295
Hecla
17,560,999
Chemours Co.
4,597,360
Mueller
Element
Industries Inc.
1,637,331
SolutionsInc.
6,628,259
Sensient
Balchem
Corp.
980,941
Technologies Corp. 1,279,489
Cabot
1,708,327
Avient Corp.
Corp.
2,757,611
LiventCorp. Co.
5,439,749
Boise Cascade
1,198,131
WestlakeCorp.
971,987
MP
Materials
Corp.
3,246,837
Hecla Mining
17,560,999
Innospec
Inc. Co.
759,391
Mueller
Ingevity Corp.
1,075,720
Industries Inc.
1,637
,331
NewMarket
Corp.
225,529
Sensient
Stepan Co.
654,667
Technologies Corp. 1,279,489
Quaker Chemical
Avient2,757,611
Corp. Corp.
410,550
Boise
Cascade1,198,131
Arconic
Corp. Co.
3,094,651
MP
Materials
Corp.
3,246,837
ScottsMiracle-Gro
Innospec
Inc.
759,391
Co.
1,276,318
Ingevity
1,075,720
MineralsCorp.
NewMarket
Corp.
225,529
Technologies
Inc.
987,946
Stepan Co.
654,667
SylvamoCorp.
1,138,184
Quaker Chemical
Carpenter
Technology
410,550Corp.
1,480,343
Arconic
3,094,651
MaterionCorp.
Corp.
623,304
ScottsTronox Miracle-Gro
Holdings plc
3,504,026
Co.
1,276,318
Worthington
Minerals
Industries Inc.
906,508
Technologies
Inc.
987,946
Uranium
EnergySylvamo
1,138,184
Corp. Corp.
11,126,524
Carpenter
Technology
Compass MineralsCorp.
1,480,343
International Inc.
1,038,269
Materion Corp.
623,304
Tronox Holdings plc
3,504,026
Worthington
Industries Inc.
906,508
Uranium EnergyCorp.
11,126,524
Compass Minerals
International Inc.
1,038,269－ 20 －

MarketValue($000)
158,933
157,550
149,872
144,593
141,527
Market140,937
Value
140,771($000)
158,933
120,568
157,550
119,783
149,872
114,185
144,593
108,088
141,527
99,668140,937
97,639140,771
96,603
120,568
119,783
93,300114,185
93,097108,088
82,276
99,66878,833
97,639
78,11175,77496,60370,16469,69693,30093,097
68,521
82,27665,48378,833
78,11162,01675,77470,16459,98869,69655,304
68,521
54,68465,48354,54548,04062,01645,06359,98855,304
43,171
54,68442,56954,54548,04045,06343,171
42,569

バンガード®・トータル・ストック・マーケットETF

*

*,1

*

*
*
*

*
*

*

*

*,1
*

*,1
*

*

*,1

*,1
*

*
*
*

Kaiser Aluminum
Corp.
Mativ Holdings Inc.
AdvanSix Inc.
Resolute Forest
Products Inc.
Energy Fuels Inc.
GrafTechInternational Ltd.
US Silica
Holdings Inc.
Coeur Mining Inc.
Ecovyst Inc.
TimkenSteel Corp.
Schnitzer Steel
Industries Inc.
Class ALSB Industries Inc.
Piedmont
Lithium Inc.
Hawkins Inc.
Rayonier Advanced
Materials Inc.
Ryerson Holding
Corp.
Clearwater Paper
Corp.
Koppers
Holdings Inc.
American Vanguard
Corp.
HaynesInternational Inc.
Origin Materials Inc.
Century AluminumCo.
Amyris Inc.
Northwest Pipe Co.
Olympic Steel Inc.
Intrepid Potash Inc.
Omega Flex Inc.
Tredegar Corp.
5E Advanced
Materials Inc.
Ur-Energy Inc.
Alto Ingredients Inc.
FutureFuel Corp.
Gold Resource Corp.
Gatos Silver Inc.
Unifi Inc.
Dakota Gold Corp.
Northern
Technologies
International Corp.
Glatfelter Corp.
Eastern Co.

SharesMarketValue($000)

488,565
1,663,708
790,022

37,111
34,77230,037

1,384,596
4,573,542

29,89328,402

5,815,400

27,681

2,172,290
7,680,148
2,704,904
1,299,552

27,15425,80523,96523,613

*

*
*,1

*

*

*,1

*

766,436
1,753,855

23,491
23,326*513,111555,705

22,58721,450*2,021,725

19,409622,51118,837

486,081

18,379600,901

16,945752,362

16,334

*

*

*

*
*

347,4822,995,000

15,876
13,807*

1,585,067
6,736,712
283,882
270,195
295,437
88,289804,870

12,966
10,307
9,567
9,073
8,529
8,239
8,226

*

968,490
6,553,123
2,354,281
789,526
3,353,910
1,098,604
515,832
1,411,351

7,632
7,536
6,780
6,419
5,132
4,493
4,441
4,305

285,438
1,133,978
163,220

3,799
3,153
3,147

*

*
*

*,2

AgroFresh
Solutions Inc.
NN Inc.
Hycroft Mining
Holding Corp.
Class AFriedmanIndustries Inc.
Perma-Pipe
International
Holdings Inc.
Universal Stainless &Alloy Products Inc.
Idaho Strategic
Resources Inc.
Golden Minerals Co.
United States
Antimony Corp.
Culp Inc.
Westwater
Resources Inc.
CPS Technologies
Corp.
Ampco-Pittsburgh
Corp.
Flexible Solutions
International Inc.
US Gold Corp.
Ascent Industries Co.
Chicago Rivet &Machine Co.
United-Guardian Inc.
Solitario Zinc Corp.
Paramount Gold
Nevada Corp.
Comstock Inc.
NextPlat Corp.
Hycroft Mining
Holding Corp.
Warrants Exp.
10/6/25
F-star
Therapeutics Inc.
CVR

SharesMarketValue($000)

1,057,843
1,558,286

3,131
2,337

4,292,776

2,284

205,359

2,011

203,835

1,926

231,105

1,657

277,137
4,483,331

1,580
1,230

2,524,776
248,217

1,229
1,139

1,414,240

1,117

388,523

1,045

366,153919

277,169
174,184
96,346

859
836
835

28,36973,136
1,173,263

812
761
728

1,223,263
1,073,641
37,918422
295
48155,000

961,021

4
25,113,243

Consumer Discretionary (13.1%)*
Amazon.com Inc.
263,718,686*
Tesla Inc.
81,633,392
Home Depot Inc.
30,996,436
Costco WholesaleCorp.
13,460,235
McDonald's Corp.
22,272,254
Walmart Inc.
41,273,961*
Walt Disney Co.
55,449,819
NIKE Inc. Class B
38,311,449*
Netflix Inc.
13,534,983
Lowe's Cos. Inc.
18,391,941－ 21 －

22,152,370
10,055,601
9,790,534
6,144,597
5,869,407
5,852,235
4,817,480
4,482,823
3,991,196
3,664,410

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*

*

*

*
*

*
*

*

*
*

*

*

*

*

*

*

Starbucks Corp.
34,907,224
TJX Cos. Inc.
33,543,992
Booking
Holdings Inc.
1,179,749
Target Corp.
14,001,889
Dollar General Corp. 6,859,824
Activision
Blizzard Inc.
21,410,377
O'Reilly
Automotive Inc.
1,902,552
Estee Lauder Cos.
Inc. Class A
6,333,250
UberTechnologies Inc.
57,614,358
AutoZone Inc.
577,172
Ford Motor Co.
120,145,687
General Motors Co. 40,957,858
MarriottInternational Inc.
Class A
8,662,687
Ross Stores Inc.
10,557,045
Lululemon
Athletica Inc.
3,719,590
Chipotle Mexican
Grill Inc. Class A
843,044
Yum! Brands Inc.
8,565,177
Hilton Worldwide
Holdings Inc.
8,224,414
Electronic Arts Inc.
8,397,124
Airbnb Inc. Class A 10,902,531
Dollar Tree Inc.
6,389,449
DR Horton Inc.
9,421,986
Copart Inc.
13,032,315
Aptiv plc
8,244,667
Tractor Supply Co.
3,359,499
Genuine Parts Co.
4,288,580
Ulta Beauty Inc.
1,557,066
eBay Inc.
16,490,833
Lennar Corp. Class A 7,209,784
Delta Air Lines Inc. 19,480,028
Warner Bros
Discovery Inc.
66,500,210
Southwest Airlines
Co.
18,072,820
Trade Desk Inc.
Class A
13,548,648
Take-Two Interactive
Software Inc.
5,104,530
DardenRestaurants Inc.
3,720,496
Omnicom Group Inc. 6,202,949
Las Vegas Sands
Corp.
10,463,685
Best Buy Co. Inc.
6,158,595
Etsy Inc.
3,816,999
Garmin Ltd.
4,659,382
NVR Inc.
92,156

MarketValue($000)
3,462,797
2,670,102
2,377,525
2,086,842
1,689,232

Shares***1,638,964
1,605,811*,1

1,571,343*

1,424,803
1,423,410
1,397,294
1,377,822*

1,289,788
1,225,356*

1,191,682*

1,169,715
1,097,028
1,039,237
1,025,961
932,166
903,724
839,876
793,538
767,826
755,787
744,112730,373
683,875
652,485
640,114

*

*

*

*

630,422608,512607,386
531,535
514,656
505,975
502,989
493,981457,200
430,014425,077

*

1

*

*,1

*

LKQ Corp.
7,720,116
Burlington
Stores Inc.
1,981,421
Expedia Group Inc.
4,582,512
Interpublic Group of
Cos. Inc.
11,821,005
United Airlines
Holdings Inc.
9,919,904
Domino's Pizza Inc.
1,075,770
RivianAutomotive Inc.
Class A
19,462,254
Live Nation
Entertainment Inc. 4,920,389
Pool Corp.
1,129,465
Liberty Media
Corp.-Liberty
Formula One
Class C5,564,203
Royal Caribbean
Cruises Ltd.
6,594,623
Aramark
7,852,336
Deckers Outdoor
Corp.
804,943
PulteGroup Inc.
6,909,199
MGM Resorts
International
9,327,373
Service Corp.
International
4,445,775
Rollins Inc.
8,244,345
VF Corp.
10,634,532
CarMax Inc.
4,804,822
Vail Resorts Inc.
1,224,551
BorgWarner Inc.
7,121,781
ROBLOX Corp.
Class A
10,028,220
Five Below Inc.
1,605,339
Tapestry Inc.
7,319,005
Bath & Body
Works Inc.
6,602,122
BJ's Wholesale Club
Holdings Inc.
4,094,641
Fox Corp. Class A
8,897,748
Advance Auto
Parts Inc.
1,799,333
Caesars
Entertainment Inc.
6,193,610
Paramount Global
Class B
15,089,697
American Airlines
Group Inc.
19,732,785
News Corp. Class A 13,751,459
Carnival Corp.
30,450,640
Hasbro Inc.
3,988,650
Wynn Resorts Ltd.
2,922,356
Whirlpool Corp.
1,657,276
WilliamsSonoma Inc.
2,020,154－ 22 －

MarketValue($000)
412,331401,753
401,428
393,758
373,980
372,647
358,689
343,148
341,471

332,628
325,972
324,616
321,301
314,576
312,747
307,381
301,248
293,619
292,566
291,872
286,652
285,403
283,936
278,708
278,213
270,901
270,225
264,556
257,654254,714251,001
250,277
245,432
243,348
241,007234,438
232,156

バンガード®・トータル・ストック・マーケットETF

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*,1

Capri Holdings Ltd.
3,986,202
Lear Corp.
1,801,270
Churchill Downs Inc. 1,023,872
Floor & Decor
Holdings Inc.
Class A
3,059,387
Dick's Sporting
Goods Inc.
1,730,252
Planet Fitness Inc.
Class A2,538,871
Gentex Corp.
7,157,507
Crocs Inc.
1,784,916
Mattel Inc.
10,784,383
Wyndham Hotels &Resorts Inc.
2,677,970
Nexstar MediaGroup Inc. Class A
1,087,704
Texas
Roadhouse Inc.
Class A
2,028,688
Liberty Media
Corp.-Liberty
SiriusXM Class C
4,645,336
Murphy USA Inc.
618,403
H&R Block Inc.
4,723,343
Lithia Motors Inc.
Class A
834,300
Skechers USA Inc.
Class A
4,071,177
Tempur Sealy
International Inc.
4,951,828
Macy's Inc.
8,229,215
Polaris Inc.
1,676,005
Light & Wonder Inc. 2,855,552
Harley-Davidson Inc. 4,004,666
Alaska Air Group Inc. 3,873,133
Toll Brothers Inc.
3,261,844
IAA Inc.
4,065,623
SiteOne LandscapeSupply Inc.
1,370,077
U-Haul Holding Co.
2,894,243
Norwegian CruiseLine Holdings Ltd. 12,776,406
New York Times Co.
Class A4,769,349
Newell Brands Inc. 11,306,647
GameStop Corp.
Class A
7,873,183
RH
540,951TEGNA Inc.
6,808,979
Marriott Vacations
Worldwide Corp.
1,049,582
PVH Corp.
1,984,816
Penn
Entertainment Inc. 4,704,727
DraftKings Inc.
Class A
11,606,646
Leggett & Platt Inc.
4,017,824

MarketValue($000)
228,489
223,394
216,477

Shares**213,025
208,132
200,063
195,185
193,538
192,393*,1*

190,966
190,381*1

184,509
181,772
172,868
172,449***

170,815
170,786
169,996
169,933
169,277
167,335
166,594
166,312
162,831
162,625
160,737
159,126

*
1

*

*

*,1
*

*

*

*

156,383*

154,813
147,891
145,339
144,537
144,282*

141,263
140,108*

139,730132,200
129,495*

AutoNation Inc.
1,201,800
Academy Sports &Outdoors Inc.
2,431,568
Hyatt Hotels Corp.
Class A
1,386,145
Wingstop Inc.
910,669
Warner Music Group
Corp. Class A
3,542,132
Fox Corp. Class B
4,353,580
Lucid Group Inc.
17,882,334
Asbury Automotive
Group Inc.
672,068
Choice Hotels
International Inc.
1,054,345
Ralph Lauren Corp.
Class A
1,121,270
Fox Factory Holding
Corp.
1,290,288
Thor Industries Inc.
1,552,829
Wendy's Co.
5,177,644
Boyd Gaming Corp.
2,055,075
Visteon Corp.
851,989Bright Horizons
FamilySolutions Inc.
1,749,954
YETI Holdings Inc.
2,621,730
Foot Locker Inc.
2,839,810
Lyft Inc. Class A
9,670,095
Sirius XM
Holdings Inc.
17,803,793
Avis Budget
Group Inc.
628,732
Meritage Homes
Corp.
1,113,603
Chewy Inc. Class A
2,723,263
Hilton Grand
Vacations Inc.
2,620,092
Grand Canyon
Education Inc.
943,357
Taylor Morrison
Home Corp. Class A 3,142,741
National Vision
Holdings Inc.
2,398,270
Chegg Inc.
3,622,603
Signet Jewelers Ltd. 1,340,499
World WrestlingEntertainment Inc.
Class A
1,315,229
Endeavor Group
Holdings Inc.
Class A
3,985,252
Kohl's Corp.
3,542,346
Ollie's Bargain Outlet
Holdings Inc.
1,904,441
Liberty Media
Corp.-Liberty
SiriusXM Class A
2,261,761－ 23 －

MarketValue($000)
128,953
127,755
125,377
125,326
124,045
123,859
122,136
120,468
118,761
118,485
117,713
117,223
117,170
112,063
111,466
110,422
108,304
107,316
106,564
103,974
103,068
102,674
100,979
100,978
99,675
95,382
92,95791,54391,154
90,12089,82889,44489,204
88,910バンガード®・トータル・ストック・マーケットETF

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*

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*

Madison Square
Garden Sports
Corp.
484,090
Coty Inc. Class A
10,359,108
Goodyear Tire &Rubber Co.
8,574,736
Travel + Leisure Co.
2,342,051
Skyline Champion
Corp.
1,633,281
elf Beauty Inc.
1,519,338
Topgolf Callaway
Brands Corp.
4,216,196
Columbia Sportswear
Co.
940,133
Carter's Inc.
1,103,474
Gap Inc.
7,230,096
Lennar Corp. Class B 1,090,413
Helen of Troy Ltd.
729,736
Papa John'sInternational Inc.
967,366
Victoria's Secret &Co.
2,216,580
Wayfair Inc. Class A
2,341,121
Group 1
Automotive Inc.
420,210
KB Home2,352,938
Penske Automotive
Group Inc.
649,477
PelotonInteractive Inc.
Class A
9,136,928
American Eagle
Outfitters Inc.
5,145,030
Hertz Global
Holdings Inc.
4,545,481
Steven Madden Ltd. 2,163,573
Graham Holdings Co.
Class B
112,700
LCI Industries
734,952
Kontoor Brands Inc.
1,692,783
Hanesbrands Inc.
10,569,184
Gentherm Inc.
1,008,700
AMC Entertainment
Holdings Inc.
Class A
16,169,715
DormanProducts Inc.
811,918
Sonos Inc.
3,845,077
JetBlue Airways
Corp.
9,943,302
Spirit Airlines Inc.
3,306,303
Cracker Barrel Old
Country Store Inc.
668,995
Liberty Media
Corp.-Liberty
Formula One
Class A
1,184,518

MarketValue($000)

88,74888,67487,03485,251

Shares***84,13084,019**83,27082,337
82,33081,556
81,54180,935****79,624*79,30977,000*75,79374,941*

74,64472,547
71,82569,955
69,148**,1**

68,09567,946
67,694
67,22065,858*65,811
65,66064,98264,43364,407***

63,381*

63,289Rush Enterprises Inc.
Class A
1,208,458
Sabre Corp.
10,027,208
Red Rock
Resorts Inc. Class A 1,503,279
Dana Inc.
3,919,480
Duolingo Inc. Class A
826,323
Cavco Industries Inc.
255,081
SeaWorld
Entertainment Inc. 1,068,203
Tri Pointe Homes Inc. 3,055,927
Under Armour Inc.
Class C6,335,652
Boot Barn
Holdings Inc.
900,679
LGI Homes Inc.
602,905
PowerSchool
Holdings Inc.
Class A
2,410,713
TripAdvisor Inc.
3,068,074
MDC Holdings Inc.
1,730,751
Under Armour Inc.
Class A
5,365,297
Bloomin' Brands Inc. 2,680,832
ODP Corp.
1,183,270
Strategic
Education Inc.
683,930
Inter Parfums Inc.
546,554
John Wiley &Sons Inc. Class A
1,285,754
Frontdoor Inc.
2,469,721
Leslie's Inc.
4,174,728
Six Flags
Entertainment Corp. 2,134,155
MillerKnoll Inc.
2,302,527
Driven Brands
Holdings Inc.
1,768,993
Cheesecake
Factory Inc.
1,521,626
Nordstrom Inc.
2,913,929
Winnebago
Industries Inc.
888,348
Shake Shack Inc.
Class A
1,124,894
PriceSmart Inc.
764,138
Adtalem Global
Education Inc.
1,294,415
Knowles Corp.
2,762,002
Monro Inc.
972,605
Dave & Buster'sEntertainment Inc.
1,239,018
CenturyCommunities Inc.
873,223
Urban Outfitters Inc. 1,827,629
Jack in the Box Inc.
638,523
Laureate
Education Inc.
Class A
4,471,698－ 24 －

MarketValue($000)
63,17861,96860,14659,302
58,776
57,712
57,16056,81056,51456,31055,82955,63955,16454,69254,51153,93853,88653,56552,75351,50751,37050,97349,61948,37648,311
48,25147,031
46,816
46,71746,44445,95245,352
43,962
43,911
43,67043,58943,56643,018

バンガード®・トータル・ストック・マーケットETF

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*

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*

*,1

*,1
*
*
*
1
*
*

*

*,1

*
*,1

*
*

*

*

*

*

*

*

KAR Auction
Services Inc.
3,296,062
Oxford Industries Inc.
458,327
BrinkerInternational Inc.
1,330,441
Levi Strauss & Co.
Class A
2,705,626
Vista Outdoor Inc.
1,714,451
Buckle Inc.
914,403
Acushnet Holdings
Corp.
975,000
Sally Beauty
Holdings Inc.
3,231,680
QuantumScape Corp.
Class A
7,005,022
Fisker Inc. Class A
5,379,833
M/I Homes Inc.
839,631
Everi Holdings Inc.
2,693,297
Stride Inc.
1,232,972
Dillard's Inc. Class A
119,093
iRobot Corp.
788,335
Madison Square
GardenEntertainment Corp.
801,369
Central Garden & Pet
Co. Class A
982,941
Dutch Bros Inc.
Class A
1,245,900
XPEL Inc.
575,443
LuminarTechnologies Inc.
Class A
6,970,324
Coursera Inc.
2,906,319
Liberty Media
Corp.-Liberty Braves
Class C1,030,274
Scholastic Corp.
835,492
Allegiant Travel Co.
482,849
HNI Corp.
1,149,191
Malibu Boats Inc.
Class A
609,244
Abercrombie & Fitch
Co. Class A
1,411,415
Rent-A-Center Inc.
1,427,240
Monarch Casino &Resort Inc.
401,599
La-Z-Boy Inc.
1,288,036
ACV Auctions Inc.
Class A
3,567,917
Dine Brands
Global Inc.
452,673
Cinemark
Holdings Inc.
3,295,222
Matthews
International Corp.
Class A
909,011
Gray Television Inc.
2,472,495

MarketValue($000)
43,01442,707

Shares*42,454*

41,991
41,781
41,468*41,399*40,461

1

39,71939,111
38,77438,64938,56738,49137,943

*
*

*

*
*
*

36,038*35,1891

35,122
34,561
34,50334,382**

33,20632,96932,82932,672
32,47332,33632,18430,87929,39329,293

*,1

*
*,1
1
*,1

*

*

29,243*28,537*

27,67027,667

Sturm Ruger & Co.
Inc.
538,741
Revolve Group Inc.
Class A
1,219,646
Perdoceo EducationCorp.
1,939,276
Figs Inc. Class A
4,002,813
Cars.com Inc.
1,946,627
Overstock.com Inc.
1,375,498
News Corp. Class B 1,435,652
Clean Energy Fuels
Corp.
5,028,302
Camping World
Holdings Inc.
Class A
1,166,986
Wolverine World
Wide Inc.
2,361,607
American Axle &Manufacturing
Holdings Inc.
3,262,182
SkyWest Inc.
1,523,700
PROG Holdings Inc. 1,489,256
Udemy Inc.
2,370,324
GoldenEntertainment Inc.
639,248
Sonic
Automotive Inc.
Class A
483,202
Caleres Inc.
1,067,019
RCI Hospitality
Holdings Inc.
253,304
Hibbett Inc.
344,284
EW Scripps Co.
Class A
1,779,286
Petco Health &Wellness Co. Inc.
Class A2,436,785
Sweetgreen Inc.
Class A
2,597,085
Arko Corp.
2,482,070
QuinStreet Inc.
1,490,772
Portillo's Inc. Class A 1,297,736
Krispy Kreme Inc.
2,044,211
Mister Car Wash Inc. 2,278,674
A-Mark Precious
Metals Inc.
600,243
iHeartMedia Inc.
Class A
3,280,407
MarineMax Inc.
624,661
Sinclair Broadcast
Group Inc. Class A
1,245,554
GoPro Inc. Class A
3,797,058
Standard Motor
Products Inc.
542,883
Green Brick
Partners Inc.
774,676
Steelcase Inc.
Class A
2,647,612－ 25 －

MarketValue($000)
27,271
27,14926,956
26,93926,805
26,63026,473
26,14726,04725,81225,51025,15625,15425,007
23,90823,807
23,77323,60523,48723,46923,101
22,257
21,495
21,393
21,17921,096
21,032
20,846
20,10919,502
19,31918,90918,892
18,77018,719

バンガード®・トータル・ストック・マーケットETF

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*
*

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*,1
*

*,1
*
*

*,1

*
*,1
*
*

*

*

*

*

*
*,1
*
*

*,1

Lions Gate
Entertainment Corp.
Class B
3,409,616
BJ's Restaurants Inc.
690,579
Ethan Allen
Interiors Inc.
677,692
Franchise Group Inc.
750,953
Boston Omaha Corp.
Class A
670,390
Genesco Inc.
385,373
Chico's FAS Inc.
3,579,664
Central Garden & PetCo.
468,985
Interface Inc. Class A 1,745,201
Life Time Group
Holdings Inc.
1,423,736
Guess? Inc.
822,162
G-III Apparel Group
Ltd.
1,231,141
Winmark Corp.
71,060TravelCenters ofAmerica Inc.
373,245
Qurate Retail Inc.
Class A
10,109,894
Sleep Number Corp.
633,551
Bally's Corp.
844,552
Poshmark Inc.
Class A
915,018
Bowlero Corp.
1,212,627
Stoneridge Inc.
753,568
Denny's Corp.
1,741,210
U-Haul Holding Co.
265,952
Liberty Media
Corp.-Liberty Braves
Class A
489,590
Thryv Holdings Inc.
833,356
Corsair Gaming Inc.
1,166,610
Chuy's Holdings Inc.
537,332
Sun Country Airlines
Holdings Inc.
955,614
Hawaiian
Holdings Inc.
1,471,674
2U Inc.
2,364,776
Designer Brands Inc.
Class A
1,507,736
Integral Ad Science
Holding Corp.
1,675,809
Stagwell Inc.
2,346,495
Ruth's Hospitality
Group Inc.
932,306
Movado Group Inc.
445,780
Viad Corp.
577,927
Blink Charging Co.
1,284,837
Children's Place Inc.
378,236
AMC Networks Inc.
Class A
862,736
Carvana Co. Class A 2,843,581

MarketValue($000)

Shares*

18,514
18,218*17,905
17,88817,765
17,735
17,612
17,564
17,22517,02817,011
16,87916,758

*,1

*

*

1

*

16,714
16,47916,46016,367
16,361
16,346
16,247
16,037
16,00815,995
15,834
15,831
15,207

*,1
*

*
*

*

1
*,1

*,1

15,15615,09914,827
14,746
14,73014,572
14,432
14,376
14,096
14,095
13,775
13,51913,479

*
*

*,1
*
*
*
*

*

*

*

MasterCraft Boat
Holdings Inc.
519,098
Rover Group Inc.
Class A3,628,532
Rush Enterprises Inc.
Class B
232,433
Haverty FurnitureCos. Inc.
432,133
Lions Gate
Entertainment Corp.
Class A
2,254,351
Accel
Entertainment Inc.
Class A
1,651,081
America's
Car-Mart Inc.
175,495
Big Lots Inc.
829,589
Smith & Wesson
Brands Inc.
1,379,309
Global Industrial Co.
498,050
Clear Channel
OutdoorHoldings Inc.
11,059,231
SES AI Corp.
3,668,700
Beazer Homes
USA Inc.
900,475
Shoe Carnival Inc.
479,790
Sciplay Corp. Class A
705,371
Liquidity
Services Inc.
795,167
Destination XLGroup Inc.
1,645,333
Carriage
Services Inc.
Class A
402,181Marcus Corp.
731,652
MullenAutomotive Inc.
36,210,051
Vizio Holding Corp.
Class A
1,382,290
Aaron's Co. Inc.
853,131
Daily Journal Corp.
40,386
Frontier Group
Holdings Inc.
984,399
Canoo Inc.
8,177,397
Funko Inc. Class A
918,414CarParts.com Inc.
1,596,734
Zumiez Inc.
459,022
Xponential
Fitness Inc. Class A
419,364
Build-A-BearWorkshop Inc.
398,931
Sportsman's
Warehouse
Holdings Inc.
1,008,304
European Wax
Center Inc. Class A
757,745
Gannett Co. Inc.
4,639,277－ 26 －

MarketValue($000)
13,42913,317
13,07912,921
12,872
12,713
12,681
12,195
11,972
11,71911,612
11,556
11,49011,472
11,342
11,180
11,106
11,076
10,52910,356
10,243
10,195
10,117
10,11010,05810,020
9,996
9,979
9,616
9,511
9,488
9,434
9,418

バンガード®・トータル・ストック・マーケットETF

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*,1

*,1

*
*,1

*
*

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*

*

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*

*

*

*,1

*,1
*,1
*
*,1
*
*

*

*

*
*
*

Playstudios Inc.
2,424,521
JohnsonOutdoors Inc.
Class A
142,149
ContextLogic Inc.
Class A
18,577,458
Lovesac Co.
399,099
Bed Bath &Beyond Inc.
3,447,705
Arlo Technologies Inc. 2,406,916
Quotient
Technology Inc.
2,441,688
First Watch
RestaurantGroup Inc.
606,598
OneWaterMarine Inc. Class A
282,871
1-800-Flowers.com
Inc. Class A
819,124
Lindblad Expeditions
Holdings Inc.
1,015,079
Allbirds Inc. Class A
3,156,493
Entravision
Communications
Corp. Class A
1,589,251
HovnanianEnterprises Inc.
Class A
179,684
Universal TechnicalInstitute Inc.
1,117,753
Alta Equipment
Group Inc.
568,355
KimballInternational Inc.
Class B
1,148,596
Full House
Resorts Inc.
992,078
Hooker FurnishingsCorp.
396,339
American Public
Education Inc.
579,083
Purple Innovation Inc.
Class A
1,478,691
Sonder Holdings Inc. 5,595,300
Vuzix Corp.
1,905,420
Citi Trends Inc.
260,469
Cricut Inc. Class A
743,230
Stitch Fix Inc. Class A 2,188,730
Fossil Group Inc.
1,551,367
Clarus Corp.
837,408
WWInternational Inc.
1,688,237
Noodles & Co.
Class A
1,186,247
Eastman Kodak Co.
2,053,366
Century Casinos Inc.
882,191
Universal
Electronics Inc.
293,728

MarketValue($000)
9,407

*
*

9,399
9,060
8,784

*

*
*
*

8,654
8,448
8,375

*

1

8,207
1

8,090
7,831

*

7,816
7,639
*

7,628

*,1

*

7,561
1

7,511
7,497
7,466

*
*
*

*

7,460
7,412
7,117
7,083
6,938
6,936
6,897
6,890
6,807
6,686
6,565

*

*,1

*

*,1

*

*,1

6,517
6,513
6,263
6,202

*,1
*,1
*

6,113

Arhaus Inc. Class A
Motorcar Parts ofAmerica Inc.
LL Flooring
Holdings Inc.
Tilly's Inc. Class A
PlayAGS Inc.
ONE Group
Hospitality Inc.
El Pollo Loco
Holdings Inc.
Kura Sushi USA Inc.
Class ABig 5 Sporting Goods
Corp.
Bluegreen Vacations
Holding Corp.
Class A
Rush Street
Interactive Inc.
Bassett Furniture
Industries Inc.
Tupperware Brands
Corp.
Lordstown Motors
Corp. Class A
Wheels Up
Experience Inc.
Weber Inc. Class A
Cardlytics Inc.
Angi Inc. Class A
Legacy Housing
Corp.
Tile Shop
Holdings Inc.
Cato Corp. Class A
Rocky Brands Inc.
Lincoln Educational
Services Corp.
Rent the Runway Inc.
Class A
American Outdoor
Brands Inc.
Dream Finders
Homes Inc. Class A
Climb Global
Solutions Inc.
J. Jill Inc.
Superior Group of
Cos. Inc.
Genius Brands
International Inc.
Canterbury Park
Holding Corp.
AMMO Inc.
RealReal Inc.
Snap One Holdings
Corp.

－ 27 －

SharesMarketValue($000)

621,273

6,057

508,069

6,026

1,068,848
658,710
1,155,888

6,007
5,961
5,895

934,451

5,887

587,3285,850

120,616

5,751

645,200

5,697

226,451

5,652

1,572,928

5,647

316,454

5,500

1,325,011

5,486

4,776,543

5,445

5,232,722
667,111
903,992
2,202,894

5,390
5,370
5,225
5,177

273,001

5,176

1,180,354
551,742
215,723

5,170
5,148
5,095

863,609

5,000

1,617,196

4,932

479,165

4,801

550,933

4,771

149,047
180,048

4,699
4,465

435,584

4,382

9,400,020

4,371

133,695
2,389,053
3,282,434

4,179
4,133
4,103

531,350

3,937

バンガード®・トータル・ストック・マーケットETF

*

*

*
*,1
*
*
*

*
1
*
*
*

*
*

*
*,1
*

*
*

*,1
*,1

*

*

*,1
*
*
*

*,1

*
*

*

*

*

Cooper-Standard
Holdings Inc.
Vacasa Inc. Class A
Nathan's
Famous Inc.
Turtle Beach Corp.
Traeger Inc.
Potbelly Corp.
Holley Inc.
Fiesta RestaurantGroup Inc.
Outbrain Inc.
Weyco Group Inc.
BARK Inc.
Vera Bradley Inc.
Superior Industries
International Inc.
Nerdy Inc.
Container Store
Group Inc.
Latham Group Inc.
Focus Universal Inc.
LakelandIndustries Inc.
Urban One Inc.
Red Robin Gourmet
Burgers Inc.
Saga
Communications
Inc. Class A
ThredUp Inc. Class A
Solo Brands Inc.
Class A
Escalade Inc.
Lifetime Brands Inc.
VOXX International
Corp. Class A
Marine Products
Corp.
Strattec Security
Corp.
Reservoir Media Inc.
Lands' End Inc.
Selectquote Inc.
Conn's Inc.
Hamilton Beach
Brands Holding Co.
Class A
Spruce Power
Holding Corp.
Lee Enterprises Inc.
RumbleON Inc.
Class B
Biglari Holdings Inc.
Class BF45 Training
Holdings Inc.
JAKKS Pacific Inc.

SharesMarketValue($000)

428,370
3,077,400

3,881
3,878

56,557525,515
1,319,878
667,556
1,753,269

3,801
3,768
3,722
3,718
3,717

503,077
998,139
170,4362,379,098
779,758

3,698
3,613
3,606
3,545
3,532

834,385
1,554,944

3,521
3,499

790,613
1,051,361
526,074

3,408
3,385
3,372

252,393872,038

3,357
3,279

587,483

3,278

134,076
2,409,149

3,164
3,156

833,123
303,339401,793

3,099
3,088
3,050

*,1

360,976

3,025

*,1

255,346

3,005

145,120489,336
383,020
4,324,874
411,902

2,982
2,921
2,907
2,906
2,834

*
*

*
*

*

*,1

*,1
*

*

*,1

*,1

*
*,1
*,1
*
*

*

*
*

*,1
*,1

*,1
*,1

*

228,579

2,832

3,048,837
144,656

2,802
2,685

404,083

2,614

18,7722,606

910,984
147,124

2,596
2,573

*,1
*

*
*

*

*

Delta Apparel Inc.
Cumulus Media Inc.
Class A
Emerald Holding Inc.
Duluth Holdings Inc.
Class B
TownsquareMedia Inc. Class A
Express Inc.
FlexsteelIndustries Inc.
Polished.com Inc.
Liberty TripAdvisor
Holdings Inc.
Class A
Barnes & Noble
Education Inc.
Faraday FutureIntelligent
Electric Inc.
Acme United Corp.
Cinedigm Corp.
Class A
Harte Hanks Inc.
Regis Corp.
Ondas Holdings Inc.
Mesa Air Group Inc.
Brilliant EarthGroup Inc. Class A
Crown Crafts Inc.
Landsea Homes
Corp.
Kirkland's Inc.
Nautilus Inc.
Kewaunee Scientific
Corp.
Lulu's Fashion
LoungeHoldings Inc.
Party City Holdco Inc.
Chicken Soup For
The SoulEntertainment Inc.
Aterian Inc.
Lazydays
Holdings Inc.
Live Ventures Inc.
Inspirato Inc.
Carrols RestaurantGroup Inc.
Travelzoo
Biglari Holdings Inc.
Class A
Owlet Inc.
CompX
International Inc.
Envela Corp.

－ 28 －

SharesMarketValue($000)

238,958

2,535

404,771
690,955

2,514
2,446

394,8102,440

333,509
2,253,471

2,418
2,299

141,758
3,683,713

2,183
2,128

3,169,521

2,122

1,197,964

2,096

7,120,807
85,287

2,067
1,868

4,807,808
154,100
1,407,700
1,071,044
1,109,713

1,864
1,801
1,717
1,703
1,698

381,195
302,838

1,643
1,617

310,401
458,478
987,578

1,617
1,513
1,511

96,393

1,499

571,3823,826,895

1,434
1,399

271,340
1,765,809

1,389
1,360

113,037
42,626
1,093,600

1,350
1,334
1,301

945,470
274,335

1,286
1,221

1,747
2,177,118

1,219
1,217

64,007224,050

1,183
1,179

バンガード®・トータル・ストック・マーケットETF

Shares
*,1

*,1
*,1
*
*
1

*
*

*
*,2
*,1
*

1

*
*,1

1
*
*

*
*,1
*,1

*

1

*

*

*,1

*
*

*,1
*,1
*

*,1

*

Bird Global Inc.
Class A
6,356,700
XWELL Inc.
3,134,508
CuriosityStream Inc.
986,623
Fluent Inc.
1,010,603
Gaia Inc. Class A
447,999
JOANN Inc.
360,480
NL Industries Inc.
148,433
LiveOne Inc.
1,540,686
SRAX Inc. Class A
625,336
Ark Restaurants
Corp.
55,702
Marchex Inc. Class B
546,577
Luby's Inc.
449,752
Red Cat Holdings Inc.
849,136
Good Times
Restaurants Inc.
350,945
FAT Brands Inc.
Class A
153,984
Audacy Inc. Class A
3,135,818
Hall of Fame Resort& Entertainment
Co.
85,677
DallasNews Corp.
176,590
Vince Holding Corp.
85,410
Envirotech
Vehicles Inc.
313,755
Educational
Development Corp.
207,019
Koss Corp.
130,730
InterGroup Corp.
12,233
Shift
Technologies Inc.
Class A
3,473,050
Charles & Colvard
Ltd.
610,246
National
CineMedia Inc.
2,253,479
Urban One Inc.
Class A
109,101
Salem MediaGroup Inc. Class A
419,347
DolphinEntertainment Inc.
229,216
FlexShopper Inc.
425,184
BurgerFi
International Inc.
310,543
Muscle Maker Inc.
417,746
Volcon Inc.
362,634
Allied Gaming &Entertainment Inc.
342,015
iMedia Brands Inc.
509,066
Jerash Holdings
US Inc.
80,817
Flanigan's
Enterprises Inc.
11,919Beasley Broadcast
Group Inc. Class A
314,502

MarketValue($000)
*

1,146
1,138
1,125
1,102
1,066
1,027
1,011
991
957

*

*
*
*,1
*,1

*,1
*,1

922
858
801
798

*

783

*,1

750
706

*,1

691
678
669

*,2

*

*

*

*

*

*,1

668

*
2

654
638
575

*

*,1
*

517
*

497
496
496
440
415
397
391
380
366
359
326
314
309
289

*,1

Dixie Group Inc.
Reading
International Inc.
Class A
Auddia Inc.
AYRO Inc.
EBET Inc.
Digital Media
Solutions Inc.
HyreCar Inc.
Arcimoto Inc.
Xcel Brands Inc.
ForwardIndustries Inc.
Moving Image
Technologies Inc.
Lottery.com Inc.
PARTS iD Inc.
Stran & Co. Inc.
EzFill Holdings Inc.
FAT Brands Inc.
Class B
Zagg Inc. CVR
Twin Vee PowerCats
Co.
Helbiz Inc.
Amesite Inc.
SRAX Inc.
IDW Media
Holdings Inc.
Class B
Applied UV Inc.
Rave RestaurantGroup Inc.
Emerson Radio Corp.
Tuesday Morning
Corp.

SharesMarketValue($000)

359,932288

100,050
274,072
673,813351,169

277
263
258
221

151,164442,201
54,305251,214

203
188
179
176

144,468

155

128,637
819,456
144,290
97,248388,645

148
143
141
125
105

16,464780,63186
70

34,923
386,127
246,652
590,641

64
50
45
41

42,882
38,59540
35

21,026
6,500

33
3

1

—
151,399,285

Consumer Staples (6.0%)
Procter & Gamble
Co.
72,068,942
PepsiCo Inc.
41,895,734
Coca-Cola Co.
118,361,492
Philip MorrisInternational Inc.
47,149,120
CVS Health Corp.
39,961,675
MondelezInternational Inc.
Class A
41,523,102
Altria Group Inc.
54,507,276
Colgate-PalmoliveCo.
25,390,836
McKesson Corp.
4,300,394
Archer-DanielsMidland Co.
16,707,183
General Mills Inc.
18,043,273
Kimberly-Clark Corp. 10,256,311－ 29 －

10,922,769
7,568,883
7,528,975
4,771,962
3,724,029
2,767,515
2,491,528
2,000,544
1,613,164
1,551,262
1,512,928
1,392,294

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*

*
*

*

*

*
1

Corteva Inc.
21,851,907
Sysco Corp.
15,407,075
Monster BeverageCorp.
11,108,061
Constellation
Brands Inc. Class A 4,769,163
Hershey Co.
4,466,673
Keurig Dr Pepper Inc. 27,991,330
Kraft Heinz Co.
24,217,516
Kroger Co.
19,586,569
AmerisourceBergenCorp.
4,998,939
Walgreens Boots
Alliance Inc.
20,990,992
McCormick & Co.
Inc. (Non-Voting)
7,623,245
Brown-Forman Corp.
Class B
9,415,520
Church & Dwight Co.
Inc.
7,412,840
Conagra Brands Inc. 14,568,253
Kellogg Co.
7,784,271
Tyson Foods Inc.
Class A
8,803,785
Clorox Co.
3,747,700
J M Smucker Co.
3,081,342
Bunge Ltd.
4,556,389
Lamb Weston
Holdings Inc.
4,364,045
Hormel Foods Corp. 8,304,899
Campbell Soup Co.
5,926,935
Darling
Ingredients Inc.
4,867,718
Molson Coors
Beverage Co.
Class B
5,472,451
Performance FoodGroup Co.
4,731,087
Casey's General
Stores Inc.
1,131,500
US Foods Holding
Corp.
6,154,153
Ingredion Inc.
1,892,088
Flowers Foods Inc.
6,084,188
Post Holdings Inc.
1,606,603
Celsius Holdings Inc. 1,270,992
Albertsons Cos. Inc.
Class A
5,693,923
Lancaster ColonyCorp.
586,565
Simply Good Foods
Co.
3,017,120
Sprouts Farmers
Market Inc.
3,246,499
BellRing Brands Inc. 4,088,975
Brown-Forman Corp.
Class A
1,558,761

MarketValue($000)
1,284,455
1,177,871**

1,127,801*

1,105,254
1,034,347
998,171985,895
873,169**

828,374
784,223
631,891*

618,411597,549
563,791
554,551
548,036525,915
488,269
454,591
389,971378,288336,354304,670**

281,941
276,248
253,852
209,364
185,292
174,860
145,012132,234**

118,092
115,729**

114,7411

105,089
104,841**,1

102,504

Boston Beer Co. Inc.
Class A
Hostess Brands Inc.
Class A
TreeHouse
Foods Inc.
Grocery Outlet
Holding Corp.
Spectrum Brands
Holdings Inc.
Freshpet Inc.
Energizer
Holdings Inc.
Primo Water Corp.
Coca-Cola
Consolidated Inc.
United Natural
Foods Inc.
WD-40 Co.
Cal-Maine Foods Inc.
Nu SkinEnterprises Inc.
Class A
Edgewell Personal
Care Co.
J & J Snack Foods
Corp.
Reynolds Consumer
Products Inc.
Vector Group Ltd.
MGP Ingredients Inc.
Herbalife Nutrition
Ltd.
Hain Celestial
Group Inc.
Ingles Markets Inc.
Class A
Weis Markets Inc.
Universal Corp.
Medifast Inc.
Chefs'
Warehouse Inc.
Utz Brands Inc.
National Beverage
Corp.
Andersons Inc.
SpartanNash Co.
Fresh Del Monte
Produce Inc.
Beauty Health Co.
Pilgrim's Pride Corp.
Seaboard Corp.
B&G Foods Inc.
Duckhorn
Portfolio Inc.
Beyond Meat Inc.
John B Sanfilippo &Son Inc.

－ 30 －

SharesMarketValue($000)

281,099

92,6284,061,813

91,147

1,708,885

84,3852,660,814

77,6691,245,664
1,387,609

75,88673,224

2,171,448
4,638,793

72,852
72,087140,088

71,776

1,844,593
419,038
1,198,818

71,40467,55365,276

1,449,180

61,097

1,571,886

60,581

359,81453,8681,615,555
4,078,716
439,754

48,434
48,37446,781

2,983,306

44,392

2,721,250

44,030437,539502,849
727,321331,241

42,20541,37938,41038,2091,037,854
2,065,002

34,54032,751

702,496
912,484
1,018,834

32,68731,92830,8101,142,545
2,851,620
1,084,599
6,803
2,213,676

29,92325,95025,73825,683
24,683

1,466,854
1,782,445

24,306
21,942

269,014

21,876

バンガード®・トータル・ストック・マーケットETF

*

*
*
*

*
*,1
*

*,1
*,1
*,1
*,1

*,1

*
*

*

*
*

1

*

*,1
*
*

*

*

*,1
*,1
*,1

*

*,1

Tootsie Roll
Industries Inc.
USANA Health
Sciences Inc.
Mission Produce Inc.
Sovos Brands Inc.
Olaplex Holdings Inc.
ACCO Brands Corp.
Calavo Growers Inc.
PetMed Express Inc.
Vital Farms Inc.
Veru Inc.
Seneca Foods Corp.
Class A
Turning Point
Brands Inc.
Vita Coco Co. Inc.
Benson Hill Inc.
BRC Inc. Class A
GrowGeneration
Corp.
Limoneira Co.
22nd Century
Group Inc.
Rite Aid Corp.
Whole Earth
Brands Inc.
Oil-Dri Corp. of
America
Village Super
Market Inc. Class A
Lifecore
Biomedical Inc.
Honest Co. Inc.
HF Foods Group Inc.
Alico Inc.
ProPhase Labs Inc.
Natural Grocers byVitamin Cottage Inc.
Vintage Wine
Estates Inc.
PLBY Group Inc.
Farmer Bros Co.
Nature's Sunshine
Products Inc.
AquaBounty
Technologies Inc.
Natural Alternatives
International Inc.
Tattooed Chef Inc.
AppHarvest Inc.
Local Bounti Corp.
AMCON Distributing
Co.
Real Good Food Co.
Inc. Class A
Zevia PBC Class A

SharesMarketValue($000)

505,643

21,525*,1

340,345
1,350,087
1,083,568
2,912,583
2,700,003
496,687
640,080
742,708
1,923,707

18,106
15,68815,571
15,17515,093
14,603
11,32911,081
10,157*

162,2299,888

434,620654,853
3,328,592
1,202,500

9,401
9,050
8,488
7,347

1,732,754
551,292

6,792
6,731

6,085,365
1,629,535

5,602
5,443

1,332,300

5,422

160,678

5,389

219,880

5,121

751,182
1,532,403
1,036,378
170,218
394,258

4,868
4,613
4,208
4,063
3,797

407,823

3,728

1,027,600
969,862
511,916

3,350
2,667
2,360

231,851

1,929

1,988,764

1,519

162,521
1,086,098
2,353,345
899,938

1,364
1,336
1,335
1,251

6,676

1,208

175,743
271,418

1,165
1,110

*
*
*

*
*
*

*,1

*

*,1

*

*

*

*,1

*

*
*,1
*
*

*,1

*,1
*

*
*

*,2
*,1

Lifevantage Corp.
Splash BeverageGroup Inc.
Willamette Valley
Vineyards Inc.
LifeMD Inc.
S&W Seed Co.
Rocky Mountain
Chocolate
Factory Inc.
Lifeway Foods Inc.
Urban-Gro Inc.
MamaMancini's
Holdings Inc.
Boxed Inc.
Mannatech Inc.
Bridgford Foods
Corp.
Kaival Brands
Innovations
Group Inc.
Coffee Holding Co.
Inc.
Alkaline Water Co.
Inc.
Barfresh FoodGroup Inc.
MedAvail
Holdings Inc.
Blue Apron
Holdings Inc.
Class A
Better Choice Co.
Inc.
Zivo Bioscience Inc.
Reed's Inc.
Laird Superfood Inc.
Yield10Bioscience Inc.
RiceBran
Technologies
Nuzee Inc.
Stryve Foods Inc.
Class A
Fresh Vine Wine Inc.
Blue Star Foods
Corp.
Fresh Market Inc.
PLBY Group Inc.
Rights Exp. 1/17/23

SharesMarketValue($000)

253,547943

950,644914

152,333
431,468
558,871

913
837
833

128,662
115,467
227,616

733
641
619

332,476
2,879,590
30,953

597
561
554

41,022491

526,590473

222,735454

2,273,743

397

233,784306

967,300

290

339,505

282

413,653
81,7882,105,891
133,864

223
200
147
112

65,737

108

102,160
7,321

78
63

32,83715,45124
1528,420661,45011—

969,862—
68,894,655

Energy (5.3%)
Exxon Mobil Corp. 125,243,406
Chevron Corp.
52,926,261
ConocoPhillips
37,898,245
EOG Resources Inc. 17,868,757
Schlumberger Ltd.
43,121,202－ 31 －

13,814,348
9,499,735
4,471,993
2,314,361
2,305,259

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*,1
*

*

*

Marathon PetroleumCorp.
14,250,461
Pioneer Natural
Resources Co.
6,866,594
Phillips 66
14,372,941
Valero Energy Corp. 11,725,291
Occidental PetroleumCorp.
20,733,560
Devon Energy Corp. 19,874,669
Williams Cos. Inc.
37,067,492
Hess Corp.
8,442,488
Cheniere Energy Inc. 7,563,998
Enphase Energy Inc. 4,132,283
Kinder Morgan Inc. 58,122,834
Halliburton Co.
24,865,430
Baker Hughes Co.
Class A
30,457,583
ONEOK Inc.
13,596,788
Diamondback
Energy Inc.
5,353,233
Coterra Energy Inc. 22,783,688
Marathon Oil Corp. 19,325,617
Targa Resources
Corp.
6,880,686
First Solar Inc.
3,077,758
APA Corp.
9,770,688
Texas Pacific LandCorp.
187,526
Ovintiv Inc.
7,554,657
Chesapeake EnergyCorp.
3,872,604
EQT Corp.
10,035,063
NOV Inc.
11,945,276
Antero ResourcesCorp.
7,755,487
HF Sinclair Corp.
4,268,304
Plug Power Inc.
17,771,382
Southwestern
Energy Co.
33,577,797
Matador ResourcesCo.
3,409,709
Murphy Oil Corp.
4,485,171
PDC Energy Inc.
2,807,028
ChampionX Corp.
6,069,913
Range Resources
Corp.
6,969,176
Chord Energy Corp.
1,200,441
DT Midstream Inc.
2,937,871
PBF Energy Inc.
Class A
3,602,602
Helmerich &Payne Inc.
2,878,106
SM Energy Co.
3,730,957
Denbury Inc.
1,438,037
Magnolia Oil & Gas
Corp. Class A
5,145,411
Noble Corp. plc
3,191,731

MarketValue($000)

Shares1,658,611*

1,568,261
1,495,936
1,487,470
1,306,007
1,222,491
1,219,520
1,197,314
1,134,297
1,094,890
1,050,861
978,455
899,412893,309

*

*

*

*

732,215559,795
523,144505,730
461,017456,096
439,604
383,097
365,458
339,486
249,537
240,343
221,482
219,832

*,1

1
*
*

1

*

196,430
195,172
192,907178,190
175,967
174,369
164,232
162,347****

146,914142,668
129,949
125,138*

120,660
120,360**

Patterson-UTI
Energy Inc.
6,591,042
Weatherford
International plc
2,155,571
Antero Midstream
Corp.
9,428,663
California ResourcesCorp.
2,230,264
Cactus Inc. Class A
1,842,509
Peabody EnergyCorp.
3,500,743
Transocean Ltd.
20,013,085
CivitasResources Inc.
1,554,467
CNX ResourcesCorp.
5,275,497
Equitrans Midstream
Corp.
13,189,543
Array
Technologies Inc.
4,327,278
New Fortress
Energy Inc.
1,898,884
Liberty Energy Inc.
Class A
5,019,266
Arcosa Inc.
1,478,795
ChargePoint
Holdings Inc.
8,319,837
Arch Resources Inc.
547,803
Callon Petroleum Co. 1,867,075
Shoals Technologies
Group Inc. Class A
2,623,041
Sitio Royalties Corp. 2,231,420
Northern Oil &Gas Inc.
2,036,951
Alpha Metallurgical
Resources Inc.
410,512
NexTier Oilfield
Solutions Inc.
6,347,093
Delek US
Holdings Inc.
2,145,572
Ameresco Inc.
Class A
981,696
CONSOL Energy Inc.
844,562
Warrior Met Coal Inc. 1,569,746
Oceaneering
International Inc.
3,066,491
Green Plains Inc.
1,707,983
Tidewater Inc.
1,377,552
Permian Resources
Corp. Class A
5,262,498
World Fuel Services
Corp.
1,785,198
Enviva Inc.
917,657
SunPower Corp.
2,637,856
NOW Inc.
3,361,286
Archrock Inc.
4,702,223
Nabors Industries
Ltd.
270,995－ 32 －

MarketValue($000)
110,993
109,762
101,735
97,03992,60592,49091,26090,05088,83988,37083,64680,55180,35880,35879,28878,221
69,25064,71064,376
62,77960,09558,64757,93056,09454,89754,376
53,63352,09350,76349,467
48,78948,60847,561
42,68842,226
41,969

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*
*,1
*

*

*

*

*,1

*
*,1
*

*

*,1

*,1

*

1

*

*

*

*

1

*

*,1
*,1

*

*

Stem Inc.
4,459,762
Comstock
Resources Inc.
2,833,681
Par Pacific
Holdings Inc.
1,647,862
Talos Energy Inc.
2,019,211
FuelCell Energy Inc. 12,562,353
Helix Energy
Solutions Group Inc. 4,472,007
ProPetro Holding
Corp.
3,076,283
Diamond Offshore
Drilling Inc.
2,948,976
MRC Global Inc.
2,581,795
CVR Energy Inc.
915,238
Core Laboratories NV 1,379,086
Earthstone
Energy Inc. Class A 1,946,058
Dril-Quip Inc.
979,622
Tellurian Inc.
15,325,175
LaredoPetroleum Inc.
484,900
Gulfport EnergyCorp.
331,810RPC Inc.
2,713,940
Ranger Oil Corp.
576,479
SunCoke Energy Inc. 2,524,635
Fluence Energy Inc.
Class A
1,257,061
Montauk
Renewables Inc.
1,737,042
Bristow Group Inc.
Class A
693,278
Select Energy
Services Inc.
Class A
1,983,896
Kinetik Holdings Inc.
Class A
529,122
ProFrac Holding
Corp. Class A
655,618
SandRidge
Energy Inc.
933,349
W&T Offshore Inc.
2,772,648
VAALCO Energy Inc. 3,343,681
REX American
Resources Corp.
477,153
Berry Corp.
1,701,948
Crescent Energy Co.
Class A
1,084,502
Oil States
International Inc.
1,696,380
Gevo Inc.
6,638,561
SilverBow
Resources Inc.
433,984
TETRA
Technologies Inc.
3,494,648
NextDecade Corp.
2,346,418

MarketValue($000)
39,870*38,850**38,31338,12334,923**,1

33,00331,901**

30,66929,897
28,68427,954*,1

27,692
26,61625,746***24,934*24,43524,12723,307
21,78821,55919,160

*,1

*,1
*,1,2

*,1
*

18,80918,331*

17,503*,1

16,522
15,895
15,471
15,247
15,202
13,616

*
*,1
*

*

*

13,003*

12,655
12,613*

12,273*,1

12,091
11,591*,1*,1

Centrus Energy Corp.
Class ATPI Composites Inc.
DMC Global Inc.
Newpark
Resources Inc.
EVgo Inc. Class A
Solaris Oilfield
Infrastructure Inc.
Class A
Amplify Energy Corp.
Solid Power Inc.
Nine Energy
Service Inc.
Hallador Energy Co.
SEACOR Marine
Holdings Inc.
Ring Energy Inc.
Evolution Petroleum
Corp.
RamacoResources Inc.
Forum Energy
Technologies Inc.
KLX Energy Services
Holdings Inc.
Beam Global
Next Bridge
Hydrocarbons Inc.
374Water Inc.
Matrix Service Co.
Epsilon Energy Ltd.
NACCO
Industries Inc.
Class A
Ranger Energy
Services Inc.
Class AESS Tech Inc.
Riley Exploration
Permian Inc.
Aemetis Inc.
FTC Solar Inc.
Natural Gas Services
Group Inc.
Heliogen Inc.
PHX Minerals Inc.
Empire Petroleum
Corp.
Mammoth Energy
Services Inc.
AmericanSuperconductor
Corp.
American Resources
Corp.
Sunworks Inc.
Flotek Industries Inc.

－ 33 －

SharesMarketValue($000)

342,567
1,071,321
524,094

11,127
10,863
10,1882,449,089
2,082,073

10,164
9,307

935,530
1,044,290
3,120,617

9,290
9,179
7,926

508,263
681,965

7,385
6,813

700,4662,558,293

6,416
6,293

784,579

5,924

673,015

5,916

194,303

5,732

328,707296,377

5,690
5,178

1,763,201
1,698,615
785,548
661,802

5,104
4,977
4,886
4,388

111,685

4,244

357,073
1,593,000

3,931
3,871

125,900
924,014
1,323,352

3,705
3,659
3,547

308,325
4,874,100
831,790

3,533
3,403
3,236

234,700

2,887

308,591

2,669

684,748

2,520

1,756,997
1,299,138
1,811,795

2,319
2,053
2,029

バンガード®・トータル・ストック・マーケットETF

Shares
*
*

*
*

*
*,1
*,1

*,1
*
*

*,1

*

*
*,1

*
*,1
*,1

*,1

*

*

*
*

*

1
*

*
*

*

*,1

*,2

Battalion Oil Corp.
207,783
Gulf Island
Fabrication Inc.
358,485
Ideal Power Inc.
149,114
PrimeEnergy
Resources Corp.
17,932
Smart Sand Inc.
860,390
Volta Inc.
3,973,258
Advent Technologies
Holdings Inc.
760,618
Stabilis Solutions Inc.
169,932
Profire Energy Inc.
830,050PEDEVCO Corp.
768,132
BarnwellIndustries Inc.
267,900
Houston American
Energy Corp.
199,104
Geospace
Technologies Corp.
159,910Mexco Energy Corp.
44,605
Dawson GeophysicalCo.
275,110
Enservco Corp.
314,865
Camber Energy Inc.
226,702
Ocean PowerTechnologies Inc.
1,001,472
IndependenceContract Drilling Inc.
133,014
Capstone Green
Energy Corp.
297,760
Pineapple
Energy Inc.
163,316
iSun Inc.
242,226
Energy Services ofAmerica Corp.
121,699
OPAL Fuels Inc.
Class A
39,434
US Energy Corp.
108,748
Superior Drilling
Products Inc.
258,628
Adams Resources &Energy Inc.
4,305
Ecoark Holdings Inc.
250,250
NCS Multistage
Holdings Inc.
800
Tidewater Inc.
Class A Warrants
Exp. 7/31/23
8,839
Tidewater Inc.
Class B Warrants
Exp. 7/31/23
9,555
Pineapple
Energy Inc. CVR
69,639MarketValue($000)
2,018
1,839
1,584
1,558
1,540
1,412
1,377
880
872
845
792
685
675
557
539
513
458
451
435
432
381
322
315
287
250
238
168
58
20
10
6
—
61,115,427

Financials (11.8%)*
Berkshire
Hathaway Inc.
Class B

51,057,930

Shares
JPMorgan Chase &Co.
89,204,681
Bank of America
Corp.
207,377,454
Wells Fargo & Co. 115,874,794
Charles SchwabCorp.
46,942,437
S&P Global Inc.
9,907,985
Morgan Stanley
38,550,543
Goldman Sachs
Group Inc.
9,445,939
BlackRock Inc.
4,339,764
Chubb Ltd.
11,986,848
Citigroup Inc.
55,948,963
Marsh & McLennan
Cos. Inc.
15,080,928
Progressive Corp.
17,790,095
PNC Financial
Services Group Inc. 12,265,546
US Bancorp
42,923,181
CME Group Inc.
10,939,180
Aon plc Class A
5,973,491
Intercontinental
Exchange Inc.
16,986,954
Truist Financial Corp. 40,356,812
Blackstone Inc.
21,341,523
AmericanInternational
Group Inc.
22,588,215
Travelers Cos. Inc.
7,124,119
Moody's Corp.
4,734,908
MetLife Inc.
17,885,447
Aflac Inc.
17,010,273
Arthur J Gallagher &Co.
6,408,270
Prudential
Financial Inc.
11,190,868
Allstate Corp.
8,066,868
MSCI Inc. Class A
2,310,092
Ameriprise
Financial Inc.
3,235,931
Bank of New York
Mellon Corp.
22,130,348
KKR & Co. Inc.
19,650,982
Discover Financial
Services
8,304,648
Willis Towers Watsonplc
3,288,697
M&T Bank Corp.
5,246,963
T. Rowe Price
Group Inc.
6,796,980
Nasdaq Inc.
11,952,508
Hartford Financial
Services Group Inc. 9,660,235
Fifth Third Bancorp 20,879,232
First Republic Bank5,564,541

15,771,795－ 34 －

MarketValue($000)
11,962,348
6,868,341
4,784,470
3,908,427
3,318,580
3,277,567
3,243,547
3,075,287
2,644,299
2,530,572
2,495,592
2,307,553
1,937,220
1,871,880
1,839,532
1,792,884
1,742,692
1,736,554
1,583,328
1,428,479
1,335,701
1,319,240
1,294,370
1,223,719
1,208,215
1,113,044
1,093,867
1,074,585
1,007,572
1,007,373
912,199
812,444804,350
761,124
741,279
733,286
732,536
685,048
678,262

バンガード®・トータル・ストック・マーケットETF

Shares****Arch Capital Group
Ltd.
10,681,213
Apollo Global
Management Inc. 10,436,343
Raymond James
Financial Inc.
5,884,697
Principal Financial
Group Inc.
7,433,396
Huntington
Bancshares Inc.
43,843,500
Regions Financial
Corp.
28,410,891
State Street Corp.
7,777,320
Citizens Financial
Group Inc.
14,968,790
Northern Trust Corp. 6,023,995
Markel Corp.
388,914
LPL Financial
Holdings Inc.
2,300,263
KeyCorp
28,382,493
Berkshire
Hathaway Inc.
Class A
1,051
Cincinnati Financial
Corp.
4,785,307
Broadridge Financial
Solutions Inc.
3,582,232
FactSet Research
Systems Inc.
1,158,569
W R Berkley Corp.
6,052,917
SVB Financial Group 1,796,181
Cboe Global
Markets Inc.
3,228,338
First Horizon Corp.
16,286,648
Everest Re Group
Ltd.
1,191,336
Brown & Brown Inc. 6,885,122
Loews Corp.
6,138,809
Ares Management
Corp. Class A
4,742,403
Equitable
Holdings Inc.
11,227,719
Globe Life Inc.
2,657,316
MarketAxess
Holdings Inc.
1,087,345
American Financial
Group Inc.
2,201,100
Annaly CapitalManagement Inc. 14,184,280
Fidelity National
Financial Inc.
7,873,046
Reinsurance Groupof America Inc.
2,031,981
East West
Bancorp Inc.
4,283,268
Comerica Inc.
3,972,848
Webster Financial
Corp.
5,292,371

MarketValue($000)

Shares670,567
665,734
628,780
623,811618,193
612,539603,287
589,321533,063
512,390497,248
494,423
492,615
489,968
480,485
464,829439,260
413,373405,060
399,023394,654392,245
358,077
324,570
322,236
320,339
303,250
302,167
299,005
296,184
288,724
282,267
265,585
250,541

1

Invesco Ltd.
13,809,503
RenaissanceRe
Holdings Ltd.
1,329,563
Franklin
Resources Inc.
9,102,204
Cullen/Frost
Bankers Inc.
1,759,978Commerce
Bancshares Inc.
3,430,208
First Citizens
BancShares Inc.
Class A
307,877
Carlyle Group Inc.
7,735,664
Zions Bancorp NA
4,565,640
Signature Bank
1,916,098
TradewebMarkets Inc.
Class A
3,378,145
SEI Investments Co. 3,688,899
Interactive Brokers
Group Inc. Class A
2,969,760
Unum Group
5,153,352
Assurant Inc.
1,612,765
Old Republic
International Corp.
8,321,433
Ally Financial Inc.
8,139,142
Erie Indemnity Co.
Class A
772,461
Prosperity
Bancshares Inc.
2,639,887
Western Alliance
Bancorp3,153,482
Voya Financial Inc.
2,969,373
Affiliated Managers
Group Inc.
1,144,833
AGNC Investment
Corp.
17,427,563
Stifel Financial Corp. 3,063,871
SouthState Corp.
2,304,106
Kinsale CapitalGroup Inc.
668,405
RLI Corp.
1,309,235
New York
Community
Bancorp Inc.
19,631,718
Morningstar Inc.
775,316
Jefferies Financial
Group Inc.
4,879,196
Glacier Bancorp Inc.
3,374,910
UnitedBankshares Inc.
4,094,075
Starwood Property
Trust Inc.
8,972,543
Pinnacle Financial
Partners Inc.
2,211,946
Selective InsuranceGroup Inc.
1,830,137
Old National Bancorp 8,906,245－ 35 －

MarketValue($000)
248,433
244,945
240,116
235,309
233,494
233,482
230,832
224,447
220,773219,343
215,063
214,862
211,442
201,692
200,963
199,002
192,126
191,867
187,821
182,587
181,376
180,375
178,838
175,942
174,801
171,863
168,833
167,926
167,259
166,788
165,769
164,467
162,357
162,168
160,134

バンガード®・トータル・ストック・マーケットETF

Shares

*,1

*

*

*

Primerica Inc.
1,124,655
Synovus Financial
Corp.
4,199,129
First American
Financial Corp.
2,988,251
Wintrust Financial
Corp.
1,838,874
Coinbase Global Inc.
Class A
4,360,711
RobinhoodMarkets Inc.
Class A
18,452,450
Valley National
Bancorp13,119,136
Popular Inc.
2,203,760
Lincoln NationalCorp.
4,649,089
First Financial
Bankshares Inc.
4,129,082
Blue Owl Capital Inc.
Class A
13,322,573
FNB Corp.
10,718,747
Cadence Bank
5,553,402
Bank OZK
3,401,373
Home
BancShares Inc.
5,900,339
Houlihan Lokey Inc.
Class A
1,513,977
Hanover InsuranceGroup Inc.
976,472
SLM Corp.
7,590,419
Axis Capital Holdings
Ltd.
2,309,840
Essent Group Ltd.
3,100,396
First Bancorp
6,808,902
Hancock WhitneyCorp.
2,466,439
American Equity
Investment Life
Holding Co.
2,603,242
MGIC InvestmentCorp.
9,070,299
Umpqua Holdings
Corp.
6,600,146
Rithm Capital Corp. 14,342,033
Independent Bank
Corp.
1,383,809
Lazard Ltd. Class A
3,256,575
OneMainHoldings Inc.
3,367,156
Assured Guaranty
Ltd.
1,732,047
Brighthouse
Financial Inc.
2,095,367
Ryan Specialty
Holdings Inc.
Class A2,559,328

MarketValue($000)

Shares159,499
157,677
156,405
155,422*,1

154,326
150,203148,377
146,153
142,820
142,040
141,219
139,880
136,947
136,2591

134,469*,1

131,958
131,951
126,001
125,124
120,543
120,070
119,351*

118,760
117,914
117,813
117,174
116,835
112,905
112,160
107,837
107,429*

106,238

White Mountains
Insurance Group
Ltd.
74,454
Blackstone Mortgage
Trust Inc. Class A
4,943,176
CVB Financial Corp.
4,027,770
SoFi
Technologies Inc.
22,472,273
United Community
Banks Inc.
3,051,762
Community Bank
System Inc.
1,636,337
Evercore Inc. Class A
943,438
ServisFirst
Bancshares Inc.
1,491,694
First Hawaiian Inc.
3,893,734
AssociatedBanc-Corp
4,305,330
UMB Financial Corp. 1,174,832
FirstCash
Holdings Inc.
1,124,293
Kemper Corp.
1,942,867
Janus Henderson
Group plc
4,033,253
Bank of Hawaii Corp. 1,217,080
Ameris Bancorp
1,995,484
Credit AcceptanceCorp.
197,447
Federated
Hermes Inc.
Class B
2,565,789
First Interstate
BancSystem Inc.
Class A
2,386,629
Pacific PremierBancorp Inc.
2,910,810
Texas CapitalBancshares Inc.
1,512,994
Radian Group Inc.
4,732,509
Cathay General
Bancorp2,143,690
Fulton Financial Corp. 5,136,705
WSFS Financial Corp. 1,874,911
Eastern
Bankshares Inc.
4,863,291
PacWest Bancorp
3,558,754
Atlantic Union
Bankshares Corp.
2,303,456
Simmons First
National Corp.
Class A
3,717,745
CNO Financial
Group Inc.
3,497,556
BankUnited Inc.
2,350,632
GenworthFinancial Inc.
Class A
15,011,421－ 36 －

MarketValue($000)

105,303
104,647
103,715
103,597
103,150
103,007
102,910
102,793
101,393
99,41098,122
97,712
95,58994,862
94,397
94,067
93,66993,16492,24391,86591,24990,24987,44186,45185,00883,892
81,67380,94380,22979,91979,851
79,410バンガード®・トータル・ストック・マーケットETF

*

*

*

*

*,1
*

1

International
Bancshares Corp.
JacksonFinancial Inc.
Class AMr Cooper
Group Inc.
Walker & Dunlop Inc.
BOK Financial Corp.
First Merchants
Corp.
Moelis & Co. Class A
Enstar Group Ltd.
Columbia Banking
System Inc.
Axos Financial Inc.
Washington
Federal Inc.
Piper Sandler Cos.
First Financial
BancorpBanner Corp.
WesBanco Inc.
Arbor Realty
Trust Inc.
Independent Bank
Group Inc.
Towne Bank
Seacoast Banking
Corp. of Florida
Park National Corp.
Hamilton Lane Inc.
Class A
Renasant Corp.
Trustmark Corp.
Artisan Partners
AssetManagement Inc.
Class A
Virtu Financial Inc.
Class A
Focus Financial
Partners Inc.
Class ANBT Bancorp Inc.
Northwest
Bancshares Inc.
Lakeland Financial
Corp.
Trupanion Inc.
NMI Holdings Inc.
Class AEnterprise Financial
Services Corp.
Claros Mortgage
Trust Inc.
Stock Yards
Bancorp Inc.

SharesMarketValue($000)

1,720,826

78,745

Shares*2,254,463

78,433

1,932,515
954,651
721,178

77,552
74,921
74,851

1,812,774
1,933,749
320,927

74,52374,19874,1472,393,519
1,753,271

72,11767,0101,994,275
512,652

66,90866,7422,722,391
1,037,449
1,737,774

65,96465,56764,2634,871,812

64,2591,069,223
2,068,654

64,23963,7972,038,581
447,598

63,58362,999973,463
1,607,029
1,668,433

62,18560,40858,245

1,953,299

58,0132,801,846

57,186

1,498,269
1,252,446

55,84054,381

3,887,354

54,345

742,829
1,127,536

54,20453,592

2,557,232

53,446

1,080,745

52,9133,582,367

52,697

802,577

52,151***

1Heartland Financial
USA Inc.
1,112,711
StoneX Group Inc.
535,748
Navient Corp.
3,081,533
TPG Inc. Class A
1,821,085
PJT Partners Inc.
Class A
664,599
BancFirst Corp.
553,064
Cohen & Steers Inc.
754,851
National Bank
Holdings Corp.
Class A
1,152,150
Horace Mann
Educators Corp.
1,277,292
Cannae Holdings Inc. 2,304,004
BRP Group Inc.
Class A
1,883,589
Provident Financial
Services Inc.
2,214,342
Westamerica
Bancorp792,627
Apollo Commercial
Real Estate
Finance Inc.
4,320,289
Sandy Spring
Bancorp Inc.
1,315,036
TriCo Bancshares
900,004
Veritex Holdings Inc. 1,585,797
Hope Bancorp Inc.
3,431,147
Eagle Bancorp Inc.
990,908
Bancorp Inc.
1,534,653
StepStone Group Inc.
Class A
1,657,153
OFG Bancorp
1,490,715
Two Harbors
Investment Corp.
2,604,910
Hilltop Holdings Inc. 1,363,554
First Busey Corp.
1,637,374
Virtus Investment
Partners Inc.
211,368
City Holding Co.
428,546
Stellar Bancorp Inc.
1,350,171
FB Financial Corp.
1,096,435
Corebridge
Financial Inc.
1,968,337
Chimera Investment
Corp.
7,132,506
Berkshire Hills
Bancorp Inc.
1,293,745
PennyMac Financial
Services Inc.
679,112
Pathward
Financial Inc.
891,986
BGC Partners Inc.
Class A
10,162,208
S&T Bancorp Inc.
1,117,917
OceanFirst Financial
Corp.
1,777,794－ 37 －

MarketValue($000)
51,87551,05750,691
50,681
48,974
48,76948,73348,47147,73247,57847,35347,29846,77346,48646,32945,891
44,52943,953
43,66943,553
41,72741,084
41,07940,92040,476
40,46439,89339,776
39,62539,48539,22938,68338,47838,40038,312
38,21037,778

バンガード®・トータル・ストック・マーケットETF

*
*

*
*

1

*

*

*

1

*

First Commonwealth
Financial Corp.
Safety InsuranceGroup Inc.
PRA Group Inc.
Enova
International Inc.
Ladder Capital Corp.
Class A
Employers
Holdings Inc.
Stewart Information
Services Corp.
Blucora Inc.
Triumph Financial Inc.
Ready Capital Corp.
PennyMac Mortgage
Investment Trust
Capitol Federal
Financial Inc.
Compass Diversified
Holdings
Origin Bancorp Inc.
Heritage Financial
Corp.
PalomarHoldings Inc.
Southside
Bancshares Inc.
Lakeland
Bancorp Inc.
Nelnet Inc. Class A
Encore CapitalGroup Inc.
Brookline
Bancorp Inc.
Franklin BSP Realty
Trust Inc.
Dime Community
Bancshares Inc.
NicoletBankshares Inc.
AMERISAFE Inc.
German American
Bancorp Inc.
MFA Financial Inc.
Federal Agricultural
Mortgage Corp.
Class C
Live OakBancshares Inc.
Cowen Inc. Class A
Preferred Bank
LendingClub Corp.
Mercury General
Corp.
ProAssurance Corp.

SharesMarketValue($000)

2,670,715

37,310Shares*439,712
1,095,461

37,05037,005

937,425

35,9693,525,368

35,395

819,465

35,344

818,852
1,359,668
705,694
3,072,836

34,99034,712
34,487
34,2312,733,208

33,864*,1*

13,884,090

33,5971

1,836,527
903,040

33,48033,142

1,080,734

33,114

731,11533,017901,741

32,454

1,842,324
355,880

32,44332,296673,165

32,272*

2,252,520

31,87312,446,033

31,554

988,547

31,465

391,726
600,691

31,256
31,218

829,939
3,066,836

30,95730,208**,1

267,523

30,153994,781754,682389,706
3,287,130

30,042
29,14629,08028,927

843,998
1,649,086

28,86528,810Premier Financial
Corp.
1,060,618
MoneyGram
International Inc.
2,624,418
ConnectOne
Bancorp Inc.
1,177,893
Upstart Holdings Inc. 2,127,680
New York Mortgage
Trust Inc.
10,943,238
TFS Financial Corp.
1,879,247
Customers
Bancorp Inc.
939,524
Tompkins Financial
Corp.
338,988
Amerant
Bancorp Inc.
Class A
952,284
QCR Holdings Inc.
507,006
Rocket Cos. Inc.
Class A
3,586,354
ARMOUR Residential
REIT Inc.
4,395,731
Banc of
California Inc.
1,550,511
Columbia
Financial Inc.
1,139,427
Argo GroupInternational
Holdings Ltd.
927,917
Hanmi Financial
Corp.
965,551
Enact Holdings Inc.
988,708
First Bancshares Inc.
737,705
Ambac Financial
Group Inc.
1,346,454
Bank First Corp.
250,966
Redwood Trust Inc.
3,331,863
Washington Trust
Bancorp Inc.
474,187
Heritage Commerce
Corp.
1,707,856
Peoples Bancorp Inc.
779,671
Old Second
Bancorp Inc.
1,367,594
Univest Financial
Corp.
834,242First Foundation Inc. 1,492,436
Lemonade Inc.
1,517,226
TrustCo Bank Corp.
548,863
KKR Real Estate
Finance Trust Inc.
1,451,080
Brightsphere
Investment
Group Inc.
982,773
Northfield
Bancorp Inc.
1,279,070
WisdomTree Inc.
3,691,556－ 38 －

MarketValue($000)
28,60528,58028,51728,12828,01527,08026,626
26,29925,55925,16825,104
24,74824,70024,63423,98723,897
23,84823,61423,482
23,29522,523
22,372
22,202
22,026
21,936
21,79921,387
20,756
20,632
20,257
20,225
20,12020,119

バンガード®・トータル・ストック・マーケットETF

*

*

*

*

*

*

*,1

Community Trust
Bancorp Inc.
Goosehead
Insurance Inc.
Class A
United Fire
Group Inc.
Ellington
Financial Inc.
Victory Capital
Holdings Inc.
Class AJames River Group
Holdings Ltd.
HarborOne
Bancorp Inc.
Kearny Financial
Corp.
Open Lending Corp.
Class A
iStar Inc.
Cambridge Bancorp
Peapack-Gladstone
Financial Corp.
Metropolitan Bank
Holding Corp.
Great Southern
Bancorp Inc.
B. Riley Financial Inc.
MBIA Inc.
First Mid
Bancshares Inc.
BrightSpire
Capital Inc. Class A
Horizon Bancorp Inc.
SiriusPoint Ltd.
Dynex Capital Inc.
Business First
Bancshares Inc.
Camden National
Corp.
Clearwater Analytics
Holdings Inc.
Class A
Midland States
Bancorp Inc.
Diamond Hill
Investment
Group Inc.
Flushing Financial
Corp.
Central PacificFinancial Corp.
AmalgamatedFinancial Corp.
National Western LifeGroup Inc. Class A
Silvergate Capital
Corp. Class A

SharesMarketValue($000)

437,907

20,113570,227

19,582

Shares*,1

714,514

19,5491,573,479

19,464**

721,738

19,364921,185

19,262

1,369,005

19,0291,871,083

18,9912,801,319
2,458,453
222,172

18,90918,75818,454493,155

18,355

311,071

18,251

302,804
521,564
1,382,103

18,014
17,837
17,760*544,930

17,481

1

2,788,244
1,130,130
2,875,652
1,333,660

17,371
17,042
16,966
16,964759,121

16,807401,070

16,721

881,534

16,529610,984

16,26487,521

16,193

829,310

16,072784,064

15,901

689,657

15,89055,87315,700901,737

15,690

*

1

*

1

*,1

Riot Blockchain Inc.
4,579,007
Byline Bancorp Inc.
644,601
Hingham Institution
For Savings
53,653HomeStreet Inc.
535,464
AssetMark Financial
Holdings Inc.
640,865
Bank of Marin
Bancorp446,902
Coastal Financial
Corp.
308,378
Mercantile Bank
Corp.
435,675
EquityBancshares Inc.
Class A
443,588
CrossFirst
Bankshares Inc.
1,158,754
Independent Bank
Corp.
599,260
P10 Inc. Class A
1,343,205
First Financial Corp.
303,859
Broadmark Realty
Capital Inc.
3,923,468
CNB Financial Corp.
584,803First Community
Bankshares Inc.
407,777
Arrow Financial Corp.
407,363
EZCORP Inc. Class A 1,624,375
Bar Harbor
Bankshares
412,183
Invesco Mortgage
Capital Inc.
1,023,676
Capital City Bank
Group Inc.
393,835
Farmers National
Banc Corp.
895,587
Alerus Financial Corp.
537,480
1st Source Corp.
233,785
TPG RE Finance
Trust Inc.
1,817,114
First of Long Island
Corp.
672,717
CBL & Associates
Properties Inc.
522,774
Metrocity
Bankshares Inc.
554,638
CarterBankshares Inc.
712,025
SmartFinancial Inc.
416,988
Orchid Island
Capital Inc.
1,081,779
NexPoint Diversified
Real Estate Trust
1,006,100
Marathon Digital
Holdings Inc.
3,292,345
Mid Penn
Bancorp Inc.
374,344－ 39 －

MarketValue($000)
15,52314,806
14,806
14,76814,74014,694
14,654
14,586
14,492
14,38014,334
14,332
14,002
13,96813,912
13,824
13,81013,23913,206
13,031
12,80012,646
12,55012,412
12,338
12,10912,066
11,997
11,812
11,467
11,35911,278
11,26011,219

バンガード®・トータル・ストック・マーケットETF

Shares

1

*

*

*

*

*

*

1
1

*,1

Financial
Institutions Inc.
450,573
American National
Bankshares Inc.
296,822
GCM Grosvenor Inc.
Class A
1,437,229
CivistaBancshares Inc.
496,781
F&G Annuities &Life Inc.
539,190West Bancorp Inc.
414,261
Merchants Bancorp
434,604
Republic
Bancorp Inc.
Class A
253,793
Southern First
Bancshares Inc.
226,710
Waterstone
Financial Inc.
600,218
Macatawa Bank
Corp.
925,613
Professional Holding
Corp. Class A
367,867
BridgewaterBancshares Inc.
573,719
HomeTrustBancshares Inc.
419,370
Blue Foundry
Bancorp782,802
Southern Missouri
Bancorp Inc.
217,810
John MarshallBancorp Inc.
346,600
Oscar Health Inc.
Class A
3,936,237
Northrim
Bancorp Inc.
176,916
MidWestOne
Financial Group Inc.
297,943
ACNB Corp.
236,741
HCI Group Inc.
237,701
Citizens & NorthernCorp.
409,413
Peoples Financial
Services Corp.
179,285
RBB Bancorp
435,114
Farmers &Merchants
Bancorp Inc.
333,453First Bancorp Inc.
302,521
World AcceptanceCorp.
137,028
Enterprise
Bancorp Inc.
255,668
Tiptree Inc. Class A
651,681
Esquire Financial
Holdings Inc.
206,705

MarketValue($000)

Shares

10,976
10,962
10,937
10,934
10,78910,584
10,57010,385
10,372
10,348
10,210
10,205
10,178
10,136
10,059
9,982
9,975
9,683
9,654
9,460
9,425
9,411
9,359
9,294
9,072
9,063
9,057
9,036
9,025
9,019
8,942

1

Shore
Bancshares Inc.
509,859
Capstar Financial
Holdings Inc.
501,635
Universal Insurance
Holdings Inc.
826,787
Northeast Bank
206,474
Granite Point
Mortgage Trust Inc. 1,592,579
Guaranty
Bancshares Inc.
245,483
Sierra Bancorp
394,292
Colony Bankcorp Inc.
655,847
AFC Gamma Inc.
528,841
Home Bancorp Inc.
205,685
Central Valley
Community
Bancorp383,357
Primis Financial Corp.
682,667
South Plains
Financial Inc.
292,506
Five Star Bancorp
293,908
Codorus Valley
Bancorp Inc.
327,515BCB Bancorp Inc.
430,285
National
Bankshares Inc.
190,358PCSB Financial Corp.
400,428UWM Holdings Corp.
Class A
2,300,429
Summit Financial
Group Inc.
304,535
Northeast
Community
Bancorp Inc.
503,961First Business
Financial
Services Inc.
205,340
Donegal Group Inc.
Class A
524,280
Chicago Atlantic Real
Estate Finance Inc.
491,800
BayCom Corp.
386,727
Timberland
Bancorp Inc.
212,824
FS Bancorp Inc.
214,292
Investar Holding
Corp.
331,586
Orrstown Financial
Services Inc.
307,627First Bank
511,381HBT Financial Inc.
349,190
Chemung Financial
Corp.
148,664
Oppenheimer
Holdings Inc.
Class A
158,975－ 40 －

MarketValue($000)
8,887
8,859
8,756
8,693
8,536
8,504
8,375
8,323
8,319
8,234
8,119
8,090
8,053
8,006
7,795
7,741
7,671
7,624
7,614
7,580
7,519
7,505
7,445
7,411
7,340
7,264
7,166
7,139
7,125
7,037
6,834
6,819
6,729

バンガード®・トータル・ストック・マーケットETF

*
*

*

*
*

*

1

*

1

*

*

*,1

Norwood Financial
Corp.
MVB Financial Corp.
FVCBankcorp Inc.
Third Coast
Bancshares Inc.
Red RiverBancshares Inc.
First Western
Financial Inc.
MainStreet
Bancshares Inc.
LendingTree Inc.
Greenlight Capital Re
Ltd. Class A
Regional
Management Corp.
PCB Bancorp
Ocwen Financial
Corp.
Community Financial
Corp.
Ames National Corp.
Fidelity D&D
Bancorp Inc.
California Bancorp
LCNB Corp.
Greene County
Bancorp Inc.
Parke Bancorp Inc.
First Internet
Bancorp
William Penn
Bancorp
Unity Bancorp Inc.
Middlefield Banc
Corp.
C&F Financial Corp.
Blue Ridge
Bankshares Inc.
Bankwell Financial
Group Inc.
Capital Bancorp Inc.
Southern States
Bancshares Inc.
ChoiceOne Financial
Services Inc.
Investors Title Co.
Ponce Financial
Group Inc.
Plumas Bancorp
Hagerty Inc. Class A
Territorial
Bancorp Inc.
Bank of Princeton
Forge Global
Holdings Inc.

SharesMarketValue($000)

199,708
302,098
348,752

6,678
6,652
6,651

358,852

6,614

127,746

6,523

230,318

6,483

233,617
299,471

6,422
6,388

776,574

6,329

224,220355,560

6,296
6,290

204,363

6,249

Shares
*

*

*

*,1

156,422
263,155

6,241
6,213

129,702254,329
335,831

6,114
6,048
6,045

105,184
290,867

6,040
6,033

247,933

6,020

489,511
216,027

5,933
5,904

214,014
99,227

5,864
5,782

462,864

5,781

195,733
244,670

5,760
5,760

*
*

*

1

197,192

5,709

192,470
37,598

5,582
5,548

594,372
149,103651,800

5,540
5,524
5,482

226,146
170,560

5,430
5,410

3,118,181

5,394

*
1

*

Kingsway Financial
Services Inc.
679,437ESSA Bancorp Inc.
257,669
Oportun Financial
Corp.
960,206
Partners Bancorp
596,295
Maiden Holdings Ltd. 2,459,113
Western New
EnglandBancorp Inc.
541,360
Evans Bancorp Inc.
135,370
Penns Woods
Bancorp Inc.
190,029
Salisbury
Bancorp Inc.
159,453
Orange County
Bancorp Inc.
107,232
Medallion Financial
Corp.
698,986
Meridian Corp.
164,242
Hippo Holdings Inc.
361,460
Great Ajax Corp.
672,741
Silvercrest AssetManagement
Group Inc. Class A
249,318First Community
Corp.
210,458
OP Bancorp
409,054
ECB Bancorp Inc.
283,246
Trean InsuranceGroup Inc.
749,232
Peoples Bancorp ofNorth Carolina Inc.
137,293
Riverview
Bancorp Inc.
571,750
Pioneer Bancorp Inc.
382,436
Richmond Mutual
Bancorp Inc.
330,188
Seven Hills Realty
Trust
469,696
Eagle Bancorp
Montana Inc.
257,546FNCB Bancorp Inc.
498,310
Ellington Residential
Mortgage REIT
591,253
Sculptor CapitalManagement Inc.
Class A
462,486
Greenhill & Co. Inc.
387,823
Crawford & Co.
Class B
746,601
eHealth Inc.
816,369First Guaranty
Bancshares Inc.
167,977
Malvern Bancorp Inc.
221,900
First Northwest
Bancorp246,872
HMN Financial Inc.
174,893－ 41 －

MarketValue($000)
5,388
5,378
5,291
5,283
5,189
5,121
5,061
5,059
5,007
4,995
4,991
4,975
4,916
4,877
4,680
4,607
4,565
4,546
4,495
4,470
4,391
4,360
4,296
4,270
4,162
4,091
4,056
4,005
3,975
3,964
3,951
3,939
3,939
3,792
3,725

バンガード®・トータル・ストック・マーケットETF

Shares

*

*,1

1

*
1

1

*,1

*

*,1
*
*,1

*
1

*

*,1

First United Corp.
188,849
Finward Bancorp
101,400
Sterling Bancorp Inc.
590,269
Limestone
Bancorp Inc.
146,744
Bank7 Corp.
137,673
BankFinancial Corp.
328,418First Financial
Northwest Inc.
230,131
HawthornBancshares Inc.
157,894
Provident
Bancorp Inc.
470,772
Nexpoint Real Estate
Finance Inc.
213,897
Luther Burbank Corp.
300,288
AG Mortgage
Investment
Trust Inc.
622,463
1895 Bancorp of
Wisconsin Inc.
327,037
SB Financial
Group Inc.
195,052
Old Point Financial
Corp.
119,700
NI Holdings Inc.
240,510Cherry Hill Mortgage
Investment Corp.
540,434First Savings
Financial Group Inc.
152,355
Hanover Bancorp Inc.
145,775
CB Financial
Services Inc.
137,767
Citizens Inc. Class A
1,357,628
Summit State Bank
181,477
Sachem Capital Corp.
868,554
Arlington Asset
Investment Corp.
Class A
964,778
Westwood HoldingsGroup Inc.
253,091
Federal Agricultural
Mortgage Corp.
Class A
29,131BM Technologies Inc.
531,936
SWK Holdings Corp.
156,426
Guild Holdings Co.
Class A
271,900
Heritage Global Inc.
1,122,609
LINKBANCORP Inc.
279,587
Curo Group Holdings
Corp.
735,347
Republic First
Bancorp Inc.
1,174,692
Provident Financial
Holdings Inc.
178,916
Consumer Portfolio
Services Inc.
276,673

MarketValue($000)
3,711
3,671
3,595
3,583
3,524
3,458
3,447

*

1

*,1

*,1
*

3,437
3,427

*

3,399
3,336

*,1

3,305
3,283
3,269
3,227
3,192

*

*

*,1

3,135

*

3,047
2,972

*,1

2,952
2,892
2,867
2,866

*,1

*

*

*
*

2,827
2,818

1

2,792
2,771
2,759
2,743
2,638
2,614
2,610
2,526

*
*

2,464
*,1

TC Bancshares Inc.
Velocity Financial Inc.
Sound Financial
Bancorp Inc.
Union
Bankshares Inc.
RigettiComputing Inc.
Bakkt Holdings Inc.
Security National
Financial Corp.
Class A
Broadway Financial
Corp.
USCB Financial
Holdings Inc.
Western Asset
Mortgage Capital
Corp.
Associated CapitalGroup Inc. Class A
ACRES Commercial
Realty Corp.
Bogota Financial
Corp.
Sunlight Financial
Holdings Inc.
Catalyst Bancorp Inc.
NSTS Bancorp Inc.
Finance of America
Cos. Inc. Class A
Finwise Bancorp
Dave Inc.
Doma Holdings Inc.
Elevate Credit Inc.
CF Bankshares Inc.
Bayfirst Financial
Corp.
Heritage Insurance
Holdings Inc.
Hennessy
Advisors Inc.
loanDepot Inc.
Class AIF Bancorp Inc.
Auburn National
Bancorp Inc.
Lument Finance
Trust Inc.
AmeriServ
Financial Inc.
Manhattan Bridge
Capital Inc.
Great Elm Group Inc.
Safeguard
Scientifics Inc.
Root Inc. Class A

2,449－ 42 －

SharesMarketValue($000)

151,263
225,504

2,248
2,176

53,4372,163

92,353

2,162

2,946,700
1,805,265

2,149
2,148

293,859

2,145

2,114,129

2,135

173,225

2,113

228,767

2,084

48,9202,054

245,355

2,027

175,708

1,964

1,506,790
151,200
186,636

1,944
1,935
1,891

1,481,602
196,982
6,160,800
3,765,455
957,460
77,960

1,882
1,824
1,787
1,705
1,676
1,651

95,5101,597

864,537

1,556

182,750

1,535

927,893
85,645

1,531
1,476

63,021

1,461

736,7311,400

351,198

1,380

253,648
643,568

1,367
1,300

417,279
270,892

1,294
1,216

バンガード®・トータル・ストック・マーケットETF

Shares

*,1

*

1

*

*

*
*,1
*
*

*,1

*
*,1

*

*

*,1,2
*

*

*

*

*

*

*,1

*,1

*

US Global
Investors Inc.
Class A
GoHealth Inc.
Class A
Patriot National
Bancorp Inc.
Angel Oak
Mortgage Inc.
Affinity
Bancshares Inc.
NicholasFinancial Inc.
Ashford Inc.
OppFi Inc.
FFBW Inc.
Generations Bancorp
NY Inc.
Midwest Holding Inc.
Lake Shore
Bancorp Inc.
Carver Bancorp Inc.
MarketWise Inc.
Mid-Southern
Bancorp Inc.
United Insurance
Holdings Corp.
Biorestorative
Therapies Inc.
Oconee Federal
Financial Corp.
PB Bankshares Inc.
Kentucky First
Federal Bancorp
Village Bank & Trust
Financial Corp.
Kingstone Cos. Inc.
Palisade Bio Inc. CVR
OptimumBank
Holdings Inc.
Hallmark Financial
Services Inc.
First Seacoast
BancorpOxbridge Re
Holdings Ltd.
LM Funding
America Inc.
Texas Community
Bancshares Inc.
FG Financial
Group Inc.
NeuroOne Medical
Technologies Corp.
Atlantic American
Corp.
Reliance Global
Group Inc.

MarketValue($000)
1

375,986

1,087*

103,498

1,082

*
1

101,605

1,077

216,627

1,025

62,333

941

148,305
63,617405,300
70,764

936
883
831
824

67,22554,287726
692

49,379133,111
304,854

596
547
512

33,699443

346,040

367

121,046333

13,734
22,618325
307

44,526302

5,510
193,591
204,224

299
261
196

48,881

195

308,158180

18,095

174

132,133

155

214,624

118

7,372

113

35,157100

73,065

88

36,081

83

109,418

62

*
*,1,2

Cincinnati
Bancorp Inc.
Siebert Financial
Corp.
Vericity Inc.
Cohen & Co. Inc.
CFSB Bancorp Inc.
CogentBiosciences Inc.
CVR

SharesMarketValue($000)

3,324

51

23,651
2,636
446
546

32
18
4
4

400,874—
135,589,572

Health Care (14.8%)
UnitedHealthGroup Inc.
28,415,783
Johnson & Johnson 79,515,153
Eli Lilly & Co.
26,009,578
Pfizer Inc.
170,728,317
AbbVie Inc.
53,784,710
Merck & Co. Inc.
77,112,203
Thermo Fisher
Scientific Inc.
11,928,276
Abbott Laboratories 53,029,301
Danaher Corp.
19,927,821
Bristol-Myers Squibb
Co.
64,669,470
Amgen Inc.
16,226,652
Elevance Health Inc. 7,263,234
Gilead Sciences Inc. 38,145,447
Medtronic plc
40,458,637
Cigna Corp.
9,297,488*
Intuitive Surgical Inc. 10,749,250
Stryker Corp.
10,360,849*
VertexPharmaceuticals Inc. 7,807,473*
RegeneronPharmaceuticals Inc. 3,094,021
Becton Dickinson &Co.
8,619,067*
Boston ScientificCorp.
43,559,138
Humana Inc.
3,849,566
Zoetis Inc. Class A
12,762,557*
Moderna Inc.
9,932,159
HCA Healthcare Inc. 6,449,762*
Centene Corp.
17,222,448*
Edwards
Lifesciences Corp. 18,809,167
Agilent
Technologies Inc.
8,970,368*
Dexcom Inc.
11,745,487*
Biogen Inc.
4,379,712*
IQVIA Holdings Inc.
5,647,498*
IDEXX
Laboratories Inc.
2,519,323*
Illumina Inc.
4,785,825
ResMed Inc.
4,456,660－ 43 －

15,065,480
14,046,352
9,515,344
8,748,119
8,692,147
8,555,599
6,568,782
5,822,087
5,289,242
4,652,968
4,261,768
3,725,821
3,274,787
3,144,445
3,080,630
2,852,314
2,533,124
2,254,642
2,232,305
2,191,829
2,015,481
1,971,709
1,870,353
1,784,014
1,547,685
1,412,413
1,403,352
1,342,416
1,330,059
1,212,830
1,157,116
1,027,783
967,694
927,565

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*

*

*

*

*
*

*
*

*

*

*

*

*
*

*

*
*

*

*
*
*

Alnylam
Pharmaceuticals Inc. 3,743,830
Zimmer Biomet
Holdings Inc.
6,381,776
Horizon Therapeutics
plc
6,893,035
BaxterInternational Inc.
15,342,053
Veeva Systems Inc.
Class A
4,273,209
Laboratory Corp. of
America Holdings
2,694,389
Insulet Corp.
2,112,710
Cardinal Health Inc.
7,962,622
MolinaHealthcare Inc.
1,775,735
BioMarin
Pharmaceutical Inc. 5,648,372
STERIS plc
3,038,531
Hologic Inc.
7,477,778
Seagen Inc.
4,237,243
Quest
Diagnostics Inc.
3,460,879
PerkinElmer Inc.
3,844,726
West Pharmaceutical
Services Inc.
2,250,237
Cooper Cos. Inc.
1,500,512
Align Technology Inc. 2,255,883
Incyte Corp.
5,749,995
Royalty Pharma plc
Class A
11,401,079
Avantor Inc.
19,502,276
Viatris Inc.
36,903,458
Bio-Techne Corp.
4,771,662
United Therapeutics
Corp.
1,386,283
Teleflex Inc.
1,427,266
Neurocrine
Biosciences Inc.
2,926,666
Charles River
Laboratories
International Inc.
1,546,417
Henry Schein Inc.
4,124,341
Sarepta
Therapeutics Inc.
2,538,178
Jazz Pharmaceuticals
plc
1,819,163
Repligen Corp.
1,687,930
Bio-RadLaboratories Inc.
Class A
641,825
Exact Sciences Corp. 5,409,124
Universal HealthServices Inc.
Class B
1,853,760
Penumbra Inc.
1,096,066
Catalent Inc.
5,207,680
Novocure Ltd.
3,187,723

MarketValue($000)

Shares*889,721813,676*

784,427*

781,984**

689,610
634,475
621,961
612,087
586,383*

584,550
561,186
559,413544,528
541,420539,108

*

*

*

*

529,593496,174
475,766
461,840
450,571
411,303410,736
395,475
385,511356,288349,561
336,964
329,411

*
*
*

*

*

*
*

*

*
*
*

328,897*

289,811285,783***

269,881
267,806**

261,176
243,831234,398
233,820***

Halozyme
Therapeutics Inc.
4,107,739
Chemed Corp.
451,874
Acadia Healthcare
Co. Inc.
2,764,127
Shockwave
Medical Inc.
1,099,027
Masimo Corp.
1,519,029
Inspire Medical
Systems Inc.
880,085
Organon & Co.
7,732,294
Bruker Corp.
3,138,805
DENTSPLY
SIRONA Inc.
6,550,242
Encompass HealthCorp.
3,026,887
Elanco Animal
Health Inc.
14,457,656
Globus Medical Inc.
Class A
2,358,288
Envista Holdings
Corp.
4,950,104
KarunaTherapeutics Inc.
839,916
Tenet HealthcareCorp.
3,291,327
HealthEquity Inc.
2,574,770
Exelixis Inc.
9,844,888
Ionis
Pharmaceuticals Inc. 4,123,619
Ensign Group Inc.
1,604,049
Medpace
Holdings Inc.
707,299
ApellisPharmaceuticals Inc. 2,853,130
LHC Group Inc.
892,848
Option Care
Health Inc.
4,713,574
Perrigo Co. plc
4,088,690
Intra-Cellular
Therapies Inc.
2,590,508
Azenta Inc.
2,275,885
Alkermes plc
5,008,697
QuidelOrtho Corp.
1,505,204
Natera Inc.
3,155,165
Premier Inc. Class A 3,618,402
Cytokinetics Inc.
2,728,906
ArrowheadPharmaceuticals Inc. 3,055,993
Merit Medical
Systems Inc.
1,725,090
Haemonetics Corp.
1,548,506
Integra LifeSciences
Holdings Corp.
2,168,260
Prometheus
Biosciences Inc.
1,060,660
Syneos Health Inc.
3,120,064
DaVita Inc.
1,520,050－ 44 －

MarketValue($000)
233,730
230,650
227,543
225,971
224,740
221,676
215,963214,537
208,560
181,038
176,673
175,150
166,670
165,044
160,584
158,709
157,912
155,749
151,759
150,237
147,535
144,365
141,831
139,383
137,090
132,502130,877
128,951
126,743
126,572
125,038
123,951
121,826
121,790
121,574
116,673
114,444
113,502

バンガード®・トータル・ストック・マーケットETF

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*

*
*

*
*
*

*
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*
*

*
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*
*

*

*

*
*

*
*

*
*
*

*,1

*
*

*

*

*

*

*

*
*

*
*
*

Madrigal
Pharmaceuticals Inc. 390,270
ICU Medical Inc.
691,543
Lantheus
Holdings Inc.
2,089,822
Teladoc Health Inc.
4,462,216
Vaxcyte Inc.
2,174,250
Amicus
Therapeutics Inc.
8,522,463
agilon health Inc.
6,291,482
10X Genomics Inc.
Class A
2,754,526
Doximity Inc. Class A 2,936,329
Prestige Consumer
Healthcare Inc.
1,515,823
Axonics Inc.
1,513,435
Ultragenyx
Pharmaceutical Inc. 2,025,106
1Life Healthcare Inc. 5,580,123
Tandem Diabetes
Care Inc.
1,958,242
Oak Street
Health Inc.
4,071,745
Denali
Therapeutics Inc.
3,139,302
IVERIC bio Inc.
4,060,026
Intellia
Therapeutics Inc.
2,453,538
PTC Therapeutics Inc. 2,182,071
Inari Medical Inc.
1,298,597
CONMED Corp.
931,087
Amedisys Inc.
984,374
Insmed Inc.
4,113,502
iRhythm
Technologies Inc.
872,382
AxsomeTherapeutics Inc.
1,056,977
Guardant Health Inc. 2,945,329
Blueprint MedicinesCorp.
1,821,967
Beam
Therapeutics Inc.
2,025,500
Evolent Health Inc.
Class A
2,781,234
Vir Biotechnology Inc. 3,036,900
Select Medical
Holdings Corp.
3,078,278
Enovis Corp.
1,404,607
Patterson Cos. Inc.
2,676,814
Akero
Therapeutics Inc.
1,359,624
Neogen Corp.
4,790,433
Mirati
Therapeutics Inc.
1,597,297
STAAR Surgical Co.
1,461,345
Progyny Inc.
2,272,416
Integer Holdings
Corp.
1,012,842

MarketValue($000)

Shares*113,276108,904*

106,497
105,531104,255*

104,059
101,545*

100,375
98,543
94,891
94,63593,82393,24488,023

*

*

*

*
*,1

*

*

*

*

87,583*87,30486,925*85,604
83,29082,53982,532
82,23582,18881,716
81,525
80,11379,82079,21778,09776,86476,43475,17575,031
74,507
72,95872,37470,93470,786

*

*

*

*

*
*

*
*
*

*

*

*

*

*

*
*
*

Omnicell Inc.
1,356,587
NuVasive Inc.
1,578,063
BioCryst
Pharmaceuticals Inc. 5,651,958
Celldex
Therapeutics Inc.
1,434,388
Signify Health Inc.
Class A
2,158,525
Glaukos Corp.
1,377,745
Cerevel Therapeutics
Holdings Inc.
1,905,773
AtriCure Inc.
1,349,439
Ginkgo Bioworks
Holdings Inc.
Class A
35,303,793
REVOLUTION
Medicines Inc.
2,487,653
ACADIA
Pharmaceuticals Inc. 3,719,591
Sage
Therapeutics Inc.
1,551,751
Certara Inc.
3,675,092
Silk Road
Medical Inc.
1,095,550
TransMedics
Group Inc.
925,736
Corcept
Therapeutics Inc.
2,787,567
Catalyst
Pharmaceuticals Inc. 3,020,411
AmylyxPharmaceuticals Inc. 1,506,333
Supernus
Pharmaceuticals Inc. 1,555,942
Krystal Biotech Inc.
684,424
Relay
Therapeutics Inc.
3,540,393
Veracyte Inc.
2,187,978Surgery Partners Inc. 1,850,820
PaciraBioSciences Inc.
1,320,139
Pacific Biosciencesof California Inc.
6,173,678
RhythmPharmaceuticals Inc. 1,719,237
Harmony
Biosciences
Holdings Inc.
906,037
Ironwood
Pharmaceuticals Inc.
Class A
3,969,615
SyndaxPharmaceuticals Inc. 1,926,725
Phreesia Inc.
1,514,768
Xencor Inc.
1,872,695
Addus HomeCareCorp.
486,397

69,339－ 45 －

MarketValue($000)
68,39965,07964,88463,931
61,86360,18060,10859,88859,66359,25659,21659,18459,05957,90057,136
56,61656,18055,65955,50054,22052,89351,921
51,56450,97150,50150,06449,92349,18449,03549,01848,76548,392

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*
*
*

*,1

*

*

*

*

*
*

*
*
*
*

*

*

*
*
*

*
*
*,1

*

*

*

*
*,1

*
*

*
*
*,1

*

Maravai LifeSciences
Holdings Inc.
Class A
3,378,339
Agios
Pharmaceuticals Inc. 1,708,008
Arvinas Inc.
1,396,926
TG Therapeutics Inc. 3,965,159
Revance
Therapeutics Inc.
2,492,680
PROCEPT
BioRobotics Corp.
1,094,681
Chinook
Therapeutics Inc.
1,709,444
Avidity
Biosciences Inc.
2,014,502
Embecta Corp.
1,753,507
Meridian
Bioscience Inc.
1,326,187
AdaptHealth Corp.
Class A
2,267,917
Owens & Minor Inc.
2,187,613
TravereTherapeutics Inc.
1,975,007FibroGen Inc.
2,558,266
Nevro Corp.
1,025,242
MannKind Corp.
7,586,771
Twist BioscienceCorp.
1,667,735
Privia HealthGroup Inc.
1,728,903
Dynavax
Technologies Corp. 3,686,504
CorVel Corp.
269,513
Avanos Medical Inc.
1,437,070
SpringWorks
Therapeutics Inc.
1,459,000
Outset Medical Inc.
1,468,445
Vericel Corp.
1,428,955
Cassava
Sciences Inc.
1,233,334
Replimune
Group Inc.
1,335,904
Pediatrix Medical
Group Inc.
2,426,012
Apollo Medical
Holdings Inc.
1,197,565
R1 RCM Inc.
3,193,070
DICE
Therapeutics Inc.
1,112,917
ModivCare Inc.
386,099
Viridian
Therapeutics Inc.
1,181,587
Myriad Genetics Inc. 2,332,306
NeoGenomics Inc.
3,640,498
Warby Parker Inc.
Class A
2,461,174
ImmunoGen Inc.
6,685,222

MarketValue($000)

Shares*

48,344*47,96147,78946,908*,1

46,015*45,473*44,78744,702
44,34644,043
43,58942,724
41,53440,98340,60039,98239,70939,26339,224
39,16838,88737,94937,91537,63936,43336,337

*

*

*

*

*

*

*

*

*
*

*
*

*

*,1
*
*,1

36,051*35,43634,964*,1

34,72334,645*34,51433,842
33,63833,201
33,159

*

*

*
*

*
*

LigandPharmaceuticals Inc. 496,070
RocketPharmaceuticals Inc. 1,677,825
Day OneBiopharmaceuticals
Inc.
1,482,586
US Physical
Therapy Inc.
390,135
Amphastar
Pharmaceuticals Inc. 1,120,042
Reata
Pharmaceuticals Inc.
Class A
822,629
NextGenHealthcare Inc.
1,618,246
Alignment
Healthcare Inc.
2,571,193
KymeraTherapeutics Inc.
1,197,647
Adaptive
Biotechnologies
Corp.
3,882,344
Keros
Therapeutics Inc.
612,068
Arcus
Biosciences Inc.
1,419,782
Iovance
Biotherapeutics Inc. 4,582,219
Ventyx
Biosciences Inc.
868,284
Immunovant Inc.
1,594,573
AclarisTherapeutics Inc.
1,786,979
Geron Corp.
11,611,470
EnantaPharmaceuticals Inc. 588,655
Arcellx Inc.
877,147
LeMaitre
Vascular Inc.
587,008
Provention Bio Inc.
2,553,871
RadNet Inc.
1,415,800
Altimmune Inc.
1,617,739
Healthcare Services
Group Inc.
2,212,503
REGENXBIO Inc.
1,167,740
Novavax Inc.
2,572,931
IdeayaBiosciences Inc.
1,438,344
Fate
Therapeutics Inc.
2,562,686
Zentalis
Pharmaceuticals Inc. 1,282,651
Avid Bioservices Inc. 1,873,520
Imago
Biosciences Inc.
714,290
Innoviva Inc.
1,926,684
Sotera Health Co.
3,012,420－ 46 －

MarketValue($000)
33,137
32,83531,90531,61331,384
31,25230,391
30,23729,893
29,661
29,39229,361
29,28028,471
28,30428,145
28,10027,384
27,17427,01426,994
26,66026,612
26,55026,48426,45026,13525,85825,83325,79825,67925,52925,093

バンガード®・トータル・ストック・マーケットETF

Shares
*
*
*
*

*

*

*

*

*
*
*

*

*

*
*

*

*

*

*

*

*

*,1
*

*
*
*,1

*

*

*
*

*

*
*

Nuvalent Inc. Class A
838,651
Inhibrx Inc.
1,008,455
Morphic Holding Inc.
928,813Crinetics
Pharmaceuticals Inc. 1,351,469
Cytek
Biosciences Inc.
2,421,555
Treace Medical
Concepts Inc.
1,063,312
Kura Oncology Inc.
1,969,608
National HealthCareCorp.
410,079
PliantTherapeutics Inc.
1,256,914
ADMA Biologics Inc. 6,244,828
Cutera Inc.
543,164
Recursion
Pharmaceuticals Inc.
Class A3,109,298
Bridgebio
Pharma Inc.
3,145,370
UFP
Technologies Inc.
203,088
Varex Imaging Corp. 1,173,432
Alphatec
Holdings Inc.
1,913,581
Deciphera
Pharmaceuticals Inc. 1,439,564
Verve
Therapeutics Inc.
1,210,541
CogentBiosciences Inc.
2,026,040
Hims & Hers
Health Inc.
3,571,326
Arcutis
Biotherapeutics Inc. 1,539,117
ViewRay Inc.
5,066,099
Atrion Corp.
39,886
EQRx Inc.
8,997,500
Collegium
Pharmaceutical Inc.
934,245
Agenus Inc.
8,886,270
BioLife Solutions Inc. 1,153,686
Anavex Life SciencesCorp.
2,266,872
Viking
Therapeutics Inc.
2,231,261
CTI BioPharma Corp. 3,484,904
National ResearchCorp.
545,986
Enhabit Inc.
1,501,468
American Well Corp.
Class A
6,917,282
CastleBiosciences Inc.
819,406
Heska Corp.
309,784
Editas Medicine Inc.
Class A
2,161,413

MarketValue($000)
24,97524,84824,846

Shares*,1**

24,732**,1

24,724*24,44624,443**,1

24,400*24,29624,23024,019****23,973*23,968*23,942
23,821
23,633
23,594
23,424
23,421
22,892
22,77922,69622,314
22,134
21,67521,327
20,997
20,991
20,97420,944
20,36519,75919,576
19,28919,256
19,172

*
*,1
*

*
*

*
*

*

*

*

*
*

*
*
*
*

*

*

*,1
*
*

*

*

*

Theravance
Biopharma Inc.
1,701,393
Alector Inc.
2,043,595
Cerus Corp.
5,068,933
Bluebird Bio Inc.
2,663,630
23andMe Holding
Co.
8,501,758
CareDx Inc.
1,607,708
Coherus
Biosciences Inc.
2,298,127
Point Biopharma
Global Inc.
2,479,082
HealthStream Inc.
721,873
Fulgent Genetics Inc.
586,434
OrthoPediatrics Corp.
436,239
Health Catalyst Inc.
1,626,169
RAPT
Therapeutics Inc.
869,450
Community Health
Systems Inc.
3,983,855
AnaptysBio Inc.
544,680
Accolade Inc.
2,117,310
Agiliti Inc.
1,009,959
4D Molecular
Therapeutics Inc.
733,244
Paragon 28 Inc.
849,890
Emergent
BioSolutions Inc.
1,352,002
OPKO Health Inc.
12,728,537
Seres
Therapeutics Inc.
2,835,302
Cardiovascular
Systems Inc.
1,154,654
ANI
Pharmaceuticals Inc. 389,590
AVEO
Pharmaceuticals Inc. 1,039,472
DocGo Inc.
2,195,997
Mersana
Therapeutics Inc.
2,637,451
AngioDynamics Inc.
1,113,842
MaxCyte Inc.
2,801,647
Allakos Inc.
1,814,261
Protagonist
Therapeutics Inc.
1,393,645
Mirum
Pharmaceuticals Inc.
777,288
Cymabay
Therapeutics Inc.
2,398,201
Zymeworks Inc.
1,911,300
Ardelyx Inc.
5,265,872
iTeos
Therapeutics Inc.
750,688
Brookdale Senior
Living Inc.
5,329,226
Cara
Therapeutics Inc.
1,354,313
Quanterix Corp.
1,026,087－ 47 －

MarketValue($000)
19,09018,862
18,502
18,432
18,364
18,344
18,201
18,073
17,931
17,464
17,332
17,286
17,215
17,21016,88016,494
16,472
16,285
16,241
15,967
15,911
15,87815,726
15,673
15,54015,526
15,455
15,33815,297
15,276
15,20515,157
15,03715,02315,008
14,661
14,54914,545
14,211

バンガード®・トータル・ストック・マーケットETF

Shares
*,1
*

*,1
*

*,1
*,1

*

*,1

*
*,1

*
*

*,1

*

*
*

*

*

*,1

*

*

*
*
*
*

*

*

*,1
*
*
*,1

*

*

*,1
*

Sharecare Inc.
8,867,300
Lyell
Immunopharma Inc. 4,077,466
89bio Inc.
1,102,700
Intercept
Pharmaceuticals Inc. 1,123,441
Invitae Corp.
7,454,414
BioxcelTherapeutics Inc.
645,295
Sorrento
Therapeutics Inc.
15,624,325
Esperion
Therapeutics Inc.
2,216,547
Sutro Biopharma Inc. 1,708,596
Allogene
Therapeutics Inc.
2,181,839
Artivion Inc.
1,123,317
Kiniksa
Pharmaceuticals
Ltd. Class A
893,713
Senseonics
Holdings Inc.
12,947,685
Nurix
Therapeutics Inc.
1,214,146
Surmodics Inc.
388,090
Kezar Life
Sciences Inc.
1,877,555
Nektar Therapeutics
Class A
5,846,571
Sangamo
Therapeutics Inc.
4,164,900
BionanoGenomics Inc.
8,898,523
Anika
Therapeutics Inc.
438,739
InovioPharmaceuticals Inc. 8,260,428
Albireo Pharma Inc.
593,770
Inogen Inc.
642,617
MacroGenics Inc.
1,875,612
Dyne
Therapeutics Inc.
1,079,732
Tango
Therapeutics Inc.
1,700,696
Arcturus Therapeutics
Holdings Inc.
716,967
ImmunityBio Inc.
2,397,295
SI-BONE Inc.
885,948Multiplan Corp.
10,447,112
Sana
Biotechnology Inc.
2,968,610
Vanda
Pharmaceuticals Inc. 1,581,120
AldeyraTherapeutics Inc.
1,678,186
Harrow Health Inc.
783,528
Scholar Rock Holding
Corp.
1,264,195

MarketValue($000)

Shares

14,188*,1

14,14914,037**

13,897
13,865**,1

13,861*

13,843*13,80913,805*

13,724
13,615*

13,388***13,336*

13,331
13,242*

13,218*1*,1

13,213*

13,078*12,992*

12,987*,1

12,886
12,831
12,666
12,585***

12,514*

12,330*12,16012,154
12,04912,014**,1

11,726*,1

11,684*

11,68011,565*

LifeStance HealthGroup Inc.
2,276,264
NanoString
Technologies Inc.
1,409,732
Orthofix Medical Inc.
547,257
Computer Programs& Systems Inc.
407,736Compass
Therapeutics Inc.
2,187,972
TarsusPharmaceuticals Inc.
748,349
GoodRxHoldings Inc.
Class A
2,333,432
Atea
Pharmaceuticals Inc. 2,253,893
BioAtla Inc.
1,302,896
Edgewise
Therapeutics Inc.
1,189,398
Sight Sciences Inc.
863,824
SomaLogic Inc.
4,157,015
OraSureTechnologies Inc.
2,157,546
2seventy bio Inc.
1,108,531
PMV
Pharmaceuticals Inc. 1,192,114
Zynex Inc.
732,906
PDS Biotechnology
Corp.
754,695
Axogen Inc.
990,595
Liquidia Corp.
1,531,173
Utah Medical
Products Inc.
96,930
Cullinan
Oncology Inc.
922,529
ARS
Pharmaceuticals Inc. 1,134,600
CareMax Inc.
2,648,343
SeaSpine HoldingsCorp.
1,143,457
ApolloEndosurgery Inc.
948,117
MiMedx Group Inc.
3,362,582
Caribou
Biosciences Inc.
1,479,875
Eagle
Pharmaceuticals Inc.
314,910
Clover HealthInvestments Corp.
Class A
9,752,612
Butterfly
Network Inc.
3,615,330
Atara
Biotherapeutics Inc. 2,710,236
Adicet Bio Inc.
983,730
SIGA
Technologies Inc.
1,189,862

11,441－ 48 －

MarketValue($000)
11,245
11,236
11,235
11,09911,006
10,971
10,874
10,841
10,74910,633
10,547
10,434
10,39910,387
10,371
10,195
9,962
9,886
9,754
9,744
9,733
9,678
9,666
9,548
9,453
9,348
9,294
9,205
9,065
8,894
8,890
8,795
8,757

バンガード®・トータル・ストック・マーケットETF

Shares
*

*
*
*
*,1
*

*,1

*
*
*

*,1

*

*
*
*

*

*,1

*,1
*

*
*

*

*
*
*

*,1
*
*
*

*
*
*
*

*

*,1

*

Fulcrum
Therapeutics Inc.
1,199,920
Seer Inc. Class A
1,499,055
OmniAb Inc.
2,406,909
Codexis Inc.
1,820,160
Ocugen Inc.
6,504,099
Heron
Therapeutics Inc.
3,357,971
Aerovate
Therapeutics Inc.
284,834
Pennant Group Inc.
758,088
Evolus Inc.
1,102,093
Terns
Pharmaceuticals Inc. 800,066
EntradaTherapeutics Inc.
600,633
Actinium
Pharmaceuticals Inc. 760,573
Nuvation Bio Inc.
4,178,976
PetIQ Inc. Class A
867,296
PoseidaTherapeutics Inc.
Class A
1,506,603
AmnealPharmaceuticals Inc. 3,989,978
Vera
Therapeutics Inc.
Class A
409,785
Erasca Inc.
1,830,279
Tactile Systems
Technology Inc.
686,887
Zimvie Inc.
838,745
Rigel
Pharmaceuticals Inc. 5,156,463
Phibro Animal HealthCorp. Class A
574,011
Arbutus BiopharmaCorp.
3,300,543
Pulmonx Corp.
892,990
Gritstone bio Inc.
2,168,030
Karyopharm
Therapeutics Inc.
2,183,595
CinCor Pharma Inc.
603,738
C4 Therapeutics Inc. 1,244,099
OptimizeRx Corp.
430,224
ConcertPharmaceuticals Inc. 1,222,223
G1 Therapeutics Inc. 1,295,502
Cano Health Inc.
5,128,280
Kodiak Sciences Inc.
980,492
ViemedHealthcare Inc.
907,059
Phathom
Pharmaceuticals Inc. 608,134
Vigil
Neuroscience Inc.
531,740
AstriaTherapeutics Inc.
445,544

MarketValue($000)

Shares
*,1

8,735
8,695
8,665
8,482
8,455

*
*

*,1
*

8,395
*

8,346
8,324
8,277

*,1

8,145

*,1

8,121

*

8,100
8,024
7,996

*,1

*,1

*
*,1

*

7,985
*

7,940

*,1

7,929
7,889

*
*
*

7,885
7,834

*

*

7,735
*,1

7,698
7,690
7,528
7,480
7,424
7,420
7,340
7,228
7,138
7,035
7,026
7,020
6,857

*,1
*,1
*

*
*,1
*,1

*,1
*,1
*
*
*,1
*

*,1
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6,823

*,1

6,647

*

6,634

Vor BioPharma Inc.
990,141
Allovir Inc.
1,272,621
Ocular
Therapeutix Inc.
2,307,462
HilleVax Inc.
385,505
NGM
Biopharmaceuticals
Inc.
1,269,403
Tela Bio Inc.
544,647
Alpine Immune
Sciences Inc.
851,829
Assertio
Holdings Inc.
1,450,548
ORIC
Pharmaceuticals Inc. 1,058,147
ALX Oncology
Holdings Inc.
544,979
ClearPoint Neuro Inc.
725,080
RxSight Inc.
468,338
Monte Rosa
Therapeutics Inc.
776,911
Voyager
Therapeutics Inc.
965,356
CVRx Inc.
316,816
Marinus
Pharmaceuticals Inc. 1,455,215
iRadimed Corp.
204,005
Accuray Inc.
2,748,522
Aadi Bioscience Inc.
445,926
Aura Biosciences Inc.
543,093
Stoke
Therapeutics Inc.
615,840
Y-mAbs
Therapeutics Inc.
1,159,178
IGM Biosciences Inc.
331,533
Cabaletta Bio Inc.
601,842908 Devices Inc.
727,330
Akoya
Biosciences Inc.
577,915
Berkeley Lights Inc.
2,057,763
Zomedica Corp.
33,520,591
Xeris Biopharma
Holdings Inc.
4,106,991
Quantum-Si Inc.
2,938,592
Prime Medicine Inc.
287,205
Generation Bio Co.
1,356,025
Semler Scientific Inc.
160,229
Gossamer Bio Inc.
2,417,239
LexiconPharmaceuticals Inc. 2,717,874
Cue Health Inc.
2,505,948
InfuSystem
Holdings Inc.
596,955
scPharmaceuticals
Inc.
718,034
Organogenesis
Holdings Inc.
Class A
1,884,061－ 49 －

MarketValue($000)
6,584
6,529
6,484
6,450
6,372
6,263
6,261
6,237
6,233
6,142
6,141
5,934
5,912
5,889
5,814
5,792
5,771
5,744
5,721
5,702
5,684
5,657
5,639
5,567
5,542
5,531
5,515
5,464
5,462
5,378
5,336
5,329
5,288
5,245
5,191
5,187
5,182
5,148
5,068

バンガード®・トータル・ストック・マーケットETF

Shares
*
*,1
*
*
*

*
*

*
*
*
*

*,1

*

*
*,1
*,1

*,1

*,1

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*,1
*
*

*
*

*,1
*,1

*
*
*,1
*

*
*,1
*

*

*,1
*,1

*

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Savara Inc.
3,255,385
CorMedix Inc.
1,193,591
Avita Medical Inc.
755,807
Chimerix Inc.
2,670,560
KalVista
Pharmaceuticals Inc. 733,821
Neuronetics Inc.
718,657
Janux
Therapeutics Inc.
374,211
Joint Corp.
352,141
Beyond Air Inc.
749,067
Biomea Fusion Inc.
575,055
Puma
Biotechnology Inc.
1,141,707
Lineage Cell
Therapeutics Inc.
4,125,846
Frequency
Therapeutics Inc.
1,246,700
Nkarta Inc.
793,900
Annexon Inc.
915,149
Innovage Holding
Corp.
630,750Bright HealthGroup Inc.
6,885,777
AN2
Therapeutics Inc.
466,278
Precigen Inc.
2,901,233
GreenwichLifesciences Inc.
282,263
Optinose Inc.
2,317,428
GlycoMimetics Inc.
1,406,037
PreludeTherapeutics Inc.
704,828
Icosavax Inc.
535,192
Merrimack
Pharmaceuticals Inc. 369,998
KemPharm Inc.
920,269
DesignTherapeutics Inc.
411,201
Rallybio Corp.
636,414
Sonendo Inc.
1,470,409
Omeros Corp.
1,822,044
Tabula Rasa
HealthCare Inc.
826,607
XOMA Corp.
221,997
PepGen Inc.
304,943
SummitTherapeutics Inc.
929,216
Anixa
Biosciences Inc.
927,841
Vaxart Inc.
4,069,328
Selecta
Biosciences Inc.
3,446,145
KinnateBiopharma Inc.
637,863
Sesen Bio Inc.
6,362,488

MarketValue($000)
5,046
5,037
4,988
4,967
4,961
4,937
4,928
4,923
4,861
4,848
4,829
4,827
4,800
4,755
4,731
4,529
4,475
4,444
4,410
4,290
4,287
4,260

Shares
*

*
*,1

*,1

*
*

*,1
*

*
*

*,1

*,1

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*,1
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4,257
4,249

*,1

4,240
4,224

*,1

4,219
4,181
4,161
4,118
4,092
4,085
4,077
3,949
3,943
3,910
3,894
3,891
3,878

*

*,1
*,1
*

*,1

*

*
*

*,1
*

*
*,1
*,2
*
*,1

SensusHealthcare Inc.
518,680
Celcuity Inc.
273,679
Outlook
Therapeutics Inc.
3,489,864
Alaunos
Therapeutics Inc.
5,807,002
Athira Pharma Inc.
1,183,657
LarimarTherapeutics Inc.
853,025
Mallinckrodt plc
454,500
Foghorn
Therapeutics Inc.
550,850
FONAR Corp.
206,318
Ovid therapeutics
Inc.
1,851,578
Omega
Therapeutics Inc.
602,610
Evelo
Biosciences Inc.
2,090,967
Standard
BioTools Inc.
2,856,696
Co-Diagnostics Inc.
1,279,125
Graphite Bio Inc.
969,009
Century
Therapeutics Inc.
625,729
Inotiv Inc.
647,206
Sanara Medtech Inc.
69,768
RelmadaTherapeutics Inc.
904,705
CitiusPharmaceuticals Inc. 3,958,982
Humacyte Inc.
1,480,153
EyePoint
Pharmaceuticals Inc. 890,209
Rani Therapeutics
Holdings Inc.
Class A
522,155
Societal CDMO Inc. 2,064,292
Absci Corp.
1,453,297
KORU Medical
Systems Inc.
842,318
Immuneering Corp.
Class A
614,133
Capricor
Therapeutics Inc.
767,235
ChromaDex Corp.
1,762,037
Matinas BioPharma
Holdings Inc.
5,866,959
Tyra Biosciences Inc.
384,648
X4
Pharmaceuticals Inc. 2,903,141
Stereotaxis Inc.
1,388,482
CEL - SCI Corp.
1,220,994
PDL BioPharma Inc. 2,258,201
Cue Biopharma Inc.
975,866
Vicarious
Surgical Inc. Class A 1,352,238－ 50 －

MarketValue($000)
3,849
3,834
3,769
3,769
3,752
3,523
3,522
3,514
3,456
3,444
3,441
3,366
3,342
3,223
3,217
3,210
3,197
3,174
3,157
3,128
3,123
3,116
3,081
3,076
3,052
3,007
2,979
2,962
2,960
2,934
2,923
2,883
2,874
2,869
2,845
2,781
2,732

バンガード®・トータル・ストック・マーケットETF

Shares
*
*

*,1

*,1
*,1

*
*

*

*

*

*

*

*,1
*
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*

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*
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*
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*

*
*
*,1
*

*,1

*
*,1
*
*
*

*

*,1

*
*,1

*,1

Personalis Inc.
1,370,373
Paratek
Pharmaceuticals Inc. 1,443,552
Asensus Surgical Inc.
Class A
7,734,650
Rain Oncology Inc.
333,919
AcumenPharmaceuticals Inc. 491,029
Electromed Inc.
249,774
Taysha Gene
Therapies Inc.
1,157,514
Precision
BioSciences Inc.
2,188,905
TenayaTherapeutics Inc.
1,283,462
Praxis Precision
Medicines Inc.
1,071,276
Olema
Pharmaceuticals Inc. 1,006,591
OpiantPharmaceuticals Inc. 120,263
Invivyd Inc.
1,620,200
Vapotherm Inc.
882,373
Singular Genomics
Systems Inc.
1,180,133
CytomX
Therapeutics Inc.
1,468,702
Biodesix Inc.
1,017,561
Durect Corp.
663,463
Inmune Bio Inc.
361,452
Verastem Inc.
5,682,571
Seelos
Therapeutics Inc.
3,356,797
VerricaPharmaceuticals Inc. 814,672
Apyx Medical Corp.
945,007
XBiotech Inc.
622,546
Annovis Bio Inc.
161,007
Oncternal
Therapeutics Inc.
2,159,797
Oncology
Institute Inc.
1,273,384
Celularity Inc. Class A 1,625,100
Vaxxinity Inc. Class A 1,489,274
Akumin Inc.
2,890,700
Passage Bio Inc.
1,496,581
Nautilus
Biotechnology Inc.
Class A
1,137,499
Trevi
Therapeutics Inc.
1,049,601
Theseus
Pharmaceuticals Inc. 405,973
CytoSorbents Corp.
1,302,216
Third Harmonic
Bio Inc.
467,005
AtossaTherapeutics Inc.
3,779,376

MarketValue($000)
2,713

Shares
*
*

2,699
*

2,685
2,671

*

*

2,652
2,620

*,1
*

2,616

*

2,605

*

2,580

*,1

2,550

*
*

2,466

*

2,439
2,430
2,382

*,1

2,372
2,350
2,340
2,296
2,292
2,287

*

*
*,1

*,1

*

*,1

*,1

2,279
*

2,240
2,211
2,185
2,162

*
*

*,1

2,160

*
*

2,101
2,096
2,085
2,078
2,065
2,048

*
*,1

*

*
*

2,026
*,1

2,022
2,018

*,1
*

2,008
*,1

1,997

*,1

Xilio Therapeutics Inc.
739,563
Spectrum
Pharmaceuticals Inc. 5,348,837
Dare Bioscience Inc. 2,375,133
ThorneHealthTech Inc.
540,104
HarvardBioscience Inc.
682,174
Talkspace Inc.
3,039,403
Cardiff Oncology Inc. 1,285,846
Assembly
Biosciences Inc.
1,377,385
Homology
Medicines Inc.
1,395,301
Bioventus Inc.
Class A
673,435
Rezolute Inc.
841,974
Ikena Oncology Inc.
654,658
PharmaCyte
Biotech Inc.
590,900
Shattuck Labs Inc.
731,691
Genprex Inc.
1,127,694
aTyr Pharma Inc.
737,935
Eton
Pharmaceuticals Inc. 575,285
P3 HealthPartners Inc.
866,984
Ocuphire
Pharma Inc.
451,409
Accelerate
Diagnostics Inc.
2,234,561
BrainStorm Cell
Therapeutics Inc.
951,371
Clearside
Biomedical Inc.
1,383,654
Lantern Pharma Inc.
256,113Adverum
Biotechnologies Inc. 2,661,554
SCYNEXIS Inc.
985,620
Lyra Therapeutics Inc.
476,157
Eiger
BioPharmaceuticals
Inc.
1,261,824
Enzo Biochem Inc.
1,040,908
Impel
Pharmaceuticals Inc. 396,809
Infinity
Pharmaceuticals Inc. 2,556,398
Fortress Biotech Inc. 2,146,747
Surface
Oncology Inc.
1,709,153
SELLAS Life
Sciences Group Inc.
592,271
TherapeuticsMD Inc.
249,657
AkebiaTherapeutics Inc.
2,410,502
Forian Inc.
507,760
Nuvectis Pharma Inc.
181,040－ 51 －

MarketValue($000)
1,989
1,971
1,971
1,961
1,890
1,855
1,800
1,791
1,758
1,758
1,743
1,741
1,725
1,683
1,635
1,616
1,611
1,595
1,593
1,578
1,560
1,550
1,547
1,542
1,538
1,495
1,489
1,489
1,488
1,419
1,406
1,402
1,398
1,396
1,391
1,386
1,360

バンガード®・トータル・ストック・マーケットETF

Shares
*

*,1

*,1

*
*
*
*,1

1

*
*,1
*
*

*,1

*
*
*

*

*
*

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*
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*

*
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*

*

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*

*

*
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*,1

*
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CidaraTherapeutics Inc.
1,796,543
RevivaPharmaceuticals
Holdings Inc.
319,823
Galectin
Therapeutics Inc.
1,189,409
IMARA Inc.
326,756
Pro-Dex Inc.
83,413iCAD Inc.
695,170
SmileDirectClub Inc.
Class A
3,592,430
AirSculpt
Technologies Inc.
341,234
Biomerica Inc.
374,536
PAVmed Inc.
2,495,928
Alpha Teknova Inc.
210,918
Viracta
Therapeutics Inc.
813,922
Miromatrix
Medical Inc.
391,565
Kronos Bio Inc.
715,054
Synlogic Inc.
1,521,748
Pear
Therapeutics Inc.
977,960
MyMD
Pharmaceuticals Inc. 986,327
Hookipa Pharma Inc. 1,396,133
Sema4 Holdings
Corp.
4,245,465
enVVeno Medical
Corp.
216,998
Orgenesis Inc.
566,688
NRX
Pharmaceuticals Inc. 978,921
Aveanna Healthcare
Holdings Inc.
1,391,988
Instil Bio Inc.
1,718,076
Spero
Therapeutics Inc.
617,531
EledonPharmaceuticals Inc. 459,998
JounceTherapeutics Inc.
950,782
Syros
Pharmaceuticals Inc. 292,279
PardesBiosciences Inc.
Class A
615,600
Leap
Therapeutics Inc.
2,289,511
Curis Inc.
1,852,559
Cognition
Therapeutics Inc.
485,183
Checkpoint
Therapeutics Inc.
197,736
Eyenovia Inc.
617,303
Pyxis Oncology Inc.
748,923

MarketValue($000)

Shares
*,1

1,359

*,1

1,359

*,1

*

1,344
1,336
1,305
1,272

*,1
*

*

1,265

*,1

1,263
1,255
1,198
1,190

*,1

*,1
*
*,1

1,188

*
*,1

1,171
1,158
1,157

*,1,2

*,1

1,154

*
*

1,134
1,131
1,120

*,1

*
*,1

1,107
1,105

*

1,087

*
*

1,086
1,082

*

1,068
*,1

1,067
*

1,055
*

1,049

*,1
*

1,040

*

*

1,030
1,019

*,1

1,019

*

1,010
1,006
1,004

*
*

*

Immunic Inc.
710,074
DecibelTherapeutics Inc.
483,353
Oncocyte Corp.
3,079,720
Science 37
Holdings Inc.
2,379,691
MEI Pharma Inc.
4,022,132
TCR2
Therapeutics Inc.
981,016
UNITY
Biotechnology Inc.
357,567
Bolt
Biotherapeutics Inc.
747,881
Pulse
Biosciences Inc.
350,609
Acutus Medical Inc.
835,044
BioCardia Inc.
457,496
DermTech Inc.
534,767
Lipocine Inc.
2,398,282
Delcath Systems Inc.
255,213
TobiraTherapeutics Inc.
CVR Exp. 12/31/28
201,001
IsoRay Inc.
3,609,244
Inozyme Pharma Inc.
842,985
Longboard
Pharmaceuticals Inc. 278,227
Black Diamond
Therapeutics Inc.
481,157
ImmuCell Corp.
139,968
Solid
Biosciences Inc.
159,271
Xtant Medical
Holdings Inc.
1,278,952
LENSAR Inc.
282,930
Aziyo Biologics Inc.
Class A
195,766
Cyteir
Therapeutics Inc.
498,303
Psychemedics Corp.
165,415
ZynerbaPharmaceuticals Inc. 1,521,801
DiaMedica
Therapeutics Inc.
506,271
Alzamend Neuro Inc. 1,412,695
Novan Inc.
545,361
Exagen Inc.
326,266
TalarisTherapeutics Inc.
764,850
ProtaraTherapeutics Inc.
284,301
ATI Physical
Therapy Inc.
2,485,615
IRIDEX Corp.
373,047
CareCloud Inc.
266,292
Cyclerion
Therapeutics Inc.
1,138,259
NextCure Inc.
530,127－ 52 －

MarketValue($000)
994
991
988
988
980
980
980
972
971
960
956
947
921
919
911
892
885
879
866
857
857
844
837
832
822
817
807
800
798
796
783
780
762
758
750
748
747
747

バンガード®・トータル・ストック・マーケットETF

Shares
*,1
*

*
*

*,1
*,1

*,1
*
*,1

*
*,1

*,1

*

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*

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*
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ARCA biopharma Inc.
312,166
DyadicInternational Inc.
596,383
Movano Inc.
562,483
CorvusPharmaceuticals Inc. 853,716
Atreca Inc. Class A
905,470
AbeonaTherapeutics Inc.
235,366
Gelesis Holdings Inc. 2,478,100
GT Biopharma Inc.
804,500
Acer
Therapeutics Inc.
278,634
IsoPlexis Corp.
449,112
Milestone
Scientific Inc.
1,447,898
AdamisPharmaceuticals
Corp.
4,096,010
Aligos
Therapeutics Inc.
712,990
Eliem
Therapeutics Inc.
189,734
Aquestive
Therapeutics Inc.
751,948
Lumos Pharma Inc.
187,322
Geron Corp. Warrants
Exp. 12/31/25
1,202,419
Rapid Micro
Biosystems Inc.
Class A
594,568
Sensei
Biotherapeutics Inc.
441,585
Moleculin
Biotech Inc.
616,108
Werewolf
Therapeutics Inc.
314,965
Retractable
Technologies Inc.
392,689
Cumberland
Pharmaceuticals Inc. 280,820
PalatinTechnologies Inc.
246,703
Equillium Inc.
570,835
HepionPharmaceuticals Inc. 2,070,833
Mustang Bio Inc.
1,562,523
Avalo
Therapeutics Inc.
119,822
Clene Inc.
592,311
TFF
Pharmaceuticals Inc. 562,689
Conformis Inc.
177,088
AegleaBioTherapeutics Inc. 1,282,021
Achieve Life
Sciences Inc.
230,562

MarketValue($000)

Shares

737

*

734
731

*,1

*

726
725
725
720
719
699
696
695

*,1

*

*,1
*,1

*,1
*

*,1

693

*

679

*
*

679
*

678
676
673

*,1

*

*,1

672

*

658

*

653

*,1
*,1

646
*,1

644
*

632
*

632
628

*
*

621
617
*,1

610
592
591
588

*

*

*

577
*

570

GaleraTherapeutics Inc.
381,675
NightHawk
Biosciences Inc.
705,534
Magenta
Therapeutics Inc.
1,432,921
Aspira Women's
Health Inc.
1,702,595
9 Meters
Biopharma Inc.
445,647
Soligenix Inc.
1,217,959
Disc Medicine Inc.
Class A
27,515
Immunome Inc.
233,400
Biora
Therapeutics Inc.
3,875,866
Harpoon
Therapeutics Inc.
691,063
Reneo
Pharmaceuticals Inc. 214,913
Athenex Inc.
3,316,592
Sio Gene
Therapies Inc.
1,124,834
Forte
Biosciences Inc.
487,429
SQZ Biotechnologies
Co.
657,886
CandelTherapeutics Inc.
269,900
Invacare Corp.
1,122,314
SatsumaPharmaceuticals Inc. 522,516
Strata Skin
Sciences Inc.
593,248
Bright Green Corp.
992,772
Microbot
Medical Inc.
153,549
AridisPharmaceuticals Inc. 388,959
Applied MolecularTransport Inc.
1,089,900
TraconPharmaceuticals Inc. 306,490
Avrobio Inc.
630,579
Daxor Corp.
47,328
Catalyst
Biosciences Inc.
826,502
Enochian
Biosciences Inc.
416,683
Five Star Senior
Living Inc.
775,241
Predictive
Oncology Inc.
1,385,931
Sonida Senior
Living Inc.
33,836
Angion Biomedica
Corp.
515,996－ 53 －

MarketValue($000)
569
568
566
566
562
551
547
514
510
502
501
489
489
487
487
483
471
470
469
466
462
459
458
457
450
437
436
429
426
425
423
419

バンガード®・トータル・ストック・マーケットETF

Shares
*

*,1

*

*

*
*,1

*,1

*,1

*,1
*,1
*

*,1
*,1
*,1
*
*

*,1

*
*
*

*

*,1
*
*
*
*,1

*,1
*

*,1

*,1

*
*
*

*

*

*
*,1

Finch Therapeutics
Group Inc.
855,860
AIM
ImmunoTech Inc.
1,311,599
Applied
Therapeutics Inc.
536,460vTv Therapeutics Inc.
Class A
625,032
Upexi Inc.
134,054
Senti
Biosciences Inc.
Class A
282,432
Lucid
Diagnostics Inc.
286,266
QuinceTherapeutics Inc.
606,618
Codex DNA Inc.
307,523
Longeveron Inc.
118,115
Context
Therapeutics Inc.
573,400
Sientra Inc.
1,852,556
Oragenics Inc.
3,556,869
NeuroMetrix Inc.
252,738
Augmedix Inc.
237,719
Cocrystal
Pharma Inc.
191,359
AptevoTherapeutics Inc.
158,476
Aptinyx Inc. Class A 1,251,830
Precipio Inc.
662,055
Better
Therapeutics Inc.
326,043
TScan
Therapeutics Inc.
220,934
Vaccinex Inc.
534,485
ElectroCore Inc.
1,341,498
Vincerx Pharma Inc.
334,111
Aravive Inc.
257,022
Molecular
Templates Inc.
1,030,942
NanoViricides Inc.
300,189
Processa
Pharmaceuticals Inc. 299,657
Indaptus
Therapeutics Inc.
229,197
Trevena Inc.
217,018
Cryo-Cell
International Inc.
72,236IN8bio Inc.
132,077
HCW Biologics Inc.
153,473
LisataTherapeutics Inc.
118,336
Ekso Bionics
Holdings Inc.
243,385
Plus
Therapeutics Inc.
897,484
GeoVax Labs Inc.
439,870
UpHealth Inc.
166,349

MarketValue($000)

Shares
*,1

411

*

409

*,1

408

*,2

*

408
402

*

*

398
389
387
384
380

*,1

*,1

*,1

*

379
376
374
372
371

*,1
*

*,1

*

369

*

368
367
367

*

*
*,1

365
*,1

360
352
345
341
339

*,1

338
333

*,1

330
330
310

*

*,1

*

*,1
*

*,1

306
305
295

*,1

295

*,1

290

*,1

285
277
271

*

*,1

1

NeuroPace Inc.
180,700
Jupiter Wellness Inc.
355,834
Venus Concept Inc.
824,933
AcelRxPharmaceuticals Inc.
112,873
Strongbridge
Biopharma plc CVR 1,399,363
Elevation
Oncology Inc.
265,550
Neoleukin
Therapeutics Inc.
493,540
Cyclo
Therapeutics Inc.
176,807
Organovo
Holdings Inc.
175,314
CorbusPharmaceuticals
Holdings Inc.
2,188,069
Ontrak Inc.
657,410
Eargo Inc.
418,952
Inhibikase
Therapeutics Inc.
475,753
BioSigTechnologies Inc.
564,517
Alimera Sciences Inc.
87,148AgeX
Therapeutics Inc.
426,190
Onconova
Therapeutics Inc.
365,661
ABVC BioPharma Inc.
375,142
ChembioDiagnostics Inc.
1,058,315
Modular Medical Inc.
106,826
Sera Prognostics Inc.
Class A
183,767
Tonix
Pharmaceuticals
Holding Corp.
580,543
Regulus
Therapeutics Inc.
162,509
Tricida Inc.
1,439,241
Codiak
Biosciences Inc.
552,448
NantHealth Inc.
59,606
Surgalign
Holdings Inc.
110,253
Marpai Inc. Class A
293,017
Biocept Inc.
394,514
Diffusion
Pharmaceuticals Inc.
41,002Kineta Inc.
32,976
Minerva
Neurosciences Inc.
128,899
Idera
Pharmaceuticals Inc. 576,093
Marker
Therapeutics Inc.
759,500－ 54 －

MarketValue($000)
269
267
264
255
253
252
251
251
249
242
242
241
238
237
236
235
235
235
233
229
226
226
223
220
220
218
216
211
209
209
209
205
202
200

バンガード®・トータル・ストック・マーケットETF

Shares
*,1

*,1
*,1
*,1
*,1

*,1

*

*,2

*
*
*

*

*

*

*,1
*,1

*,1
*,2

*,1
*,1
*,1
*,1

*

*,1

*

*,1

*

*

*,1
*,1

*,1
*
*
*
*,1
*

SAB
Biotherapeutics Inc.
338,972
Synaptogenix Inc.
171,031
T2 Biosystems Inc.
130,994
Athersys Inc.
220,627
Rubius
Therapeutics Inc.
1,066,867
Bio-Path
Holdings Inc.
121,084
CASI
Pharmaceuticals Inc. 102,469
Ocera
Therapeutics Inc.
CVR
653,477
iSpecimen Inc.
126,917
cbdMD Inc.
759,341
Vivos
Therapeutics Inc.
426,060
TempestTherapeutics Inc.
147,142
Cellectar
Biosciences Inc.
99,704
Aileron
Therapeutics Inc.
70,526
Graybug Vision Inc.
318,437
Jasper
Therapeutics Inc.
325,773
Axcella Health Inc.
462,695
AdamasPharmaceuticals Inc.
CVR
2,522,158
Theriva Biologics Inc.
330,873
iBio Inc.
336,211
Vivani Medical Inc.
173,362
VYNE
Therapeutics Inc.
893,188
eFFECTOR
Therapeutics Inc.
300,033
180 Life SciencesCorp.
37,583
MonoparTherapeutics Inc.
52,392
VistaGen
Therapeutics Inc.
1,183,241
Talis Biomedical
Corp.
274,003
Immix
Biopharma Inc.
52,979Aytu BioPharma Inc.
634,538
ArteloBiosciences Inc.
40,554
Surrozen Inc.
199,181Femasys Inc.
128,310Nephros Inc.
102,105
INVO BioScience Inc.
259,122
Biolase Inc.
167,042
American Shared
Hospital Services
36,338MarketValue($000)

Shares
*

200
198
186
185

*
*,1

*,1

184

*

183

*,1
*,1

179

*,1
*
*

176
175
172

*,1

171

*,2

171

*,1

*

171
167
159

*
*,2

*,1

155
152
152
151
149
147

*
*

*
*

*,1

*,1

134
*

128

*,1

127

*

124

*

122

*

122

*

121
120
117
116
115
114
113
109

*,1
*
*,1,2

*

*

*

106

NeuBaseTherapeutics Inc.
543,821
Imac Holdings Inc.
508,049
RockwellMedical Inc.
98,674
Lannett Co. Inc.
185,256
ENDRA Life
Sciences Inc.
23,331
Biofrontera Inc.
98,114
NanoVibronix Inc.
347,433
NexImmune Inc.
344,561
Nutriband Inc.
22,490Navidea
Biopharmaceuticals
Inc.
381,102
Metacrine Inc.
179,530
Imunon Inc.
57,488Aduro Biotech Inc.
CVR
415,255
Qualigen
Therapeutics Inc.
56,774
Vyant Bio Inc.
101,063
OncoMedPharmaceuticals Inc.
CVR
255,777
Oncorus Inc.
264,842
Pulmatrix Inc.
17,004Sigilon
Therapeutics Inc.
181,760
Avinger Inc.
58,389VirpaxPharmaceuticals Inc.
96,777
Bellicum
Pharmaceuticals Inc.
82,034
Adial
Pharmaceuticals Inc. 275,517
Lucira Health Inc.
464,745
KintaraTherapeutics Inc.
7,268
MiNK
Therapeutics Inc.
18,490TRxADEHEALTH Inc.
119,112
Star Equity
Holdings Inc.
53,681
Protagenic
Therapeutics Inc.
104,510
Jaguar Health Inc.
448,409
Cohbar Inc.
23,045Miragen
Therapeutics Inc.
CVR
1,753,041
Novo Integrated
Sciences Inc.
174,830
Salarius
Pharmaceuticals Inc.
21,884
Aprea
Therapeutics Inc.
99,800－ 55 －

MarketValue($000)
103
102
100
97
95
90
87
84
81
80
80
78
76
74
71
67
67
66
64
63
60
59
59
52
50
48
46
46
44
39
39
35
35
34
32

バンガード®・トータル・ストック・マーケットETF

Shares
*,1

*,1

*

*

*

*
*,1

*

*

*,1

*,2

*,1

*,1,2

*,1

*,2

*
*,2

*,2

*,1

*

*,2

*

*

*,2

*,2

EternaTherapeutics Inc.
10,000
Virios
Therapeutics Inc.
127,853
Journey Medical
Corp.
15,723Eloxx
Pharmaceuticals Inc.
16,840
Pasithea Therapeutics
Corp.
39,188RenovoRx Inc.
10,815
Acurx
Pharmaceuticals Inc.
6,127
Xenetic
Biosciences Inc.
61,641
Lixte Biotechnology
Holdings Inc.
32,745
Unicycive
Therapeutics Inc.
22,695AlexzaPharmaceuticals Inc.
CVR
327,391
SpruceBiosciences Inc.
8,958
Oncternal
Therapeutics Inc.
CVR
8,933
CNS
Pharmaceuticals Inc.
3,360
F-star
Therapeutics Inc.
CVR
61,021
Aethlon Medical Inc.
5,764
Ambit Biosciences
Corp. CVR
201,330
Biosante
Pharmaceuticals Inc.
CVR
253,823
Synergy
Pharmaceuticals LLC 5,148,145
Advaxis Inc. Warrants
Exp. 9/11/24
157,660
Lantheus
Holdings Inc. CVR
2,319,511
SELLAS Life
Sciences Group Inc.
Warrants Exp.
4/5/2740,000Athenex Inc.
Warrants Exp.
8/15/27
535,168
OmniAb Inc. (Earnout
Shares)372,534
ABIOMED Inc. CVR
264

MarketValue($000)
*,1

32
*

30
30
30
25
25
24
18
17
12
11
10
9
8
4
2
—
—
—
—
—

—
—
—
—

SiNtx
Technologies Inc.
Disc Medicine Inc.
CVR

SharesMarketValue($000)

1—

275,152—
171,027,041

Industrials (13.6%)
Visa Inc. Class A
49,292,699
Mastercard Inc.
Class A
26,107,377
Accenture plc
Class A
19,128,358
RaytheonTechnologies Corp. 44,697,254
HoneywellInternational Inc.
20,445,124
Union Pacific Corp. 18,698,697
United Parcel
Service Inc. Class B 22,194,977
Caterpillar Inc.
15,827,377
Lockheed Martin
Corp.
7,793,644
Deere & Co.
8,260,842*
Boeing Co.
18,126,460
Automatic Data
Processing Inc.
12,617,999
General Electric Co. 33,237,288
American Express
Co.
17,042,755*
PayPal Holdings Inc. 34,600,429
Northrop GrummanCorp.
4,212,417
3M Co.
17,033,443
CSX Corp.
63,942,562
Eaton Corp. plc
12,099,061
General Dynamics
Corp.
7,511,656
Illinois Tool
Works Inc.
8,404,325*
Fiserv Inc.
17,386,068
Norfolk SouthernCorp.
7,042,389
Emerson Electric Co. 17,990,270
Sherwin-Williams Co. 7,093,432
Johnson Controls
International plc
20,885,890
FedEx Corp.
7,123,562
Fidelity National
Information
Services Inc.
18,003,010
L3Harris
Technologies Inc.
5,790,126
Cintas Corp.
2,623,291
Trane Technologies
plc
7,004,750
Paychex Inc.
9,868,426
Parker-Hannifin Corp. 3,903,417－ 56 －

10,241,051
9,078,318
5,104,211
4,510,847
4,381,390
3,871,939
3,858,375
3,791,606
3,791,530
3,541,919
3,452,909
3,013,935
2,784,952
2,518,067
2,464,243
2,298,337
2,042,650
1,980,941
1,898,948
1,863,717
1,851,473
1,757,210
1,735,385
1,728,145
1,683,484
1,336,697
1,233,801
1,221,504
1,205,562
1,184,731
1,177,428
1,140,395
1,135,894

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*

*

*

*

Capital One Financial
Corp.
11,601,225
Carrier Global Corp. 25,427,634
Cummins Inc.
4,287,767
Block Inc. Class A
16,348,606
Otis Worldwide Corp. 12,671,166
TransDigm Group Inc. 1,570,664
Mettler-Toledo
International Inc.
678,023
AMETEK Inc.
6,987,799
PACCAR Inc.
9,514,982
DuPont deNemours Inc.
13,597,978
Keysight
Technologies Inc.
5,430,166
RockwellAutomation Inc.
3,495,082
PPG Industries Inc.
7,147,932
Old Dominion FreightLine Inc.
3,025,000
Verisk Analytics Inc.
Class A
4,753,413
Ferguson plc
6,379,009
Global Payments Inc. 7,853,195
WW Grainger Inc.
1,382,754
United Rentals Inc.
2,107,479
Equifax Inc.
3,724,193
Fortive Corp.
10,757,488
Vulcan Materials Co. 3,839,775
Ingersoll Rand Inc.
12,317,486
Martin Marietta
Materials Inc.
1,887,811
Quanta Services Inc. 4,346,235
Waters Corp.
1,806,424
Xylem Inc.
5,482,567
Dover Corp.
4,267,658
Teledyne
Technologies Inc.
1,426,497
Westinghouse Air
Brake Technologies
Corp.
5,255,168
IDEX Corp.
2,292,913
Expeditors
International of
Washington Inc.
4,833,473
Ball Corp.
9,544,364
Jacobs Solutions Inc. 3,842,541
Fair Isaac Corp.
759,405
Textron Inc.
6,363,811
Synchrony Financial 13,677,419
HowmetAerospace Inc.
11,301,525
JB Hunt Transport
Services Inc.
2,520,605
Booz Allen Hamilton
Holding Corp.
Class A
4,019,282

MarketValue($000)*

1,078,450
1,048,890
1,038,883
1,027,346
992,279
988,969
980,048976,335
941,698**

933,229928,938
900,228
898,781858,434
838,597
809,943
779,979
769,157
749,040
723,834
691,169
672,383
643,589*

638,023
619,338
618,845606,207577,884***

570,470
524,518
523,541*502,294
488,099
461,374454,565
450,558
449,440
445,393
439,493420,095

Zebra Technologies
Corp. Class A
FleetCor
Technologies Inc.
Jack Henry &Associates Inc.
RPMInternational Inc.
Hubbell Inc. Class B
Trimble Inc.
Nordson Corp.
Carlisle Cos. Inc.
Snap-on Inc.
Packaging Corp. of
America
Toro Co.
AECOM
HEICO Corp. Class A
Stanley Black &Decker Inc.
Graco Inc.
Axon Enterprise Inc.
TransUnion
Bill.com
Holdings Inc.
CH Robinson
Worldwide Inc.
Masco Corp.
Crown Holdings Inc.
Builders
FirstSource Inc.
WillScot Mobile Mini
Holdings Corp.
Allegion plc
Huntington Ingalls
Industries Inc.
Westrock Co.
AGCO Corp.
Genpact Ltd.
Lincoln Electric
Holdings Inc.
Watsco Inc.
Paylocity Holding
Corp.
Knight-Swift
Transportation
Holdings Inc.
Class A
Owens Corning
Regal Rexnord Corp.
Cognex Corp.
Tetra Tech Inc.
LennoxInternational Inc.
Robert Half
International Inc.
Berry Global
Group Inc.

－ 57 －

SharesMarketValue($000)

1,570,456

402,681

2,133,790

391,935

2,219,752

389,700

3,931,747
1,631,883
7,501,631
1,565,794
1,570,664
1,616,533

383,149
382,970
379,282372,221370,127
369,362

2,812,093
3,169,508
4,221,908
2,984,460

359,695
358,788358,567
357,688

4,646,624
5,122,535
2,056,127
5,864,039

349,054344,542
341,173
332,784

3,051,875

332,532

3,580,841
6,851,765
3,651,096

327,862
319,772
300,157

4,470,939

290,075

6,344,301
2,667,416

286,572
280,772

1,211,994
7,743,883
1,926,875
5,586,945

279,583
272,275
267,238
258,787

1,754,749
1,012,343

253,544
252,478

1,268,222

246,3654,639,544
2,837,516
2,016,333
4,998,324
1,615,671

243,158
242,040
241,920
235,471234,579

967,985

231,571

3,132,492

231,272

3,774,930

228,119

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*

*

*
*

*,1
*

*
*

*
*
*

Pentair plc
4,998,843
Fortune Brands
Innovations Inc.
3,894,987
A O Smith Corp.
3,853,715
Sealed Air Corp.
4,408,270
Donaldson Co. Inc.
3,729,429
Middleby Corp.
1,637,048
AptarGroup Inc.
1,988,372
WEX Inc.
1,325,240
EMCOR Group Inc.
1,450,258
Valmont
Industries Inc.
649,021Graphic Packaging
Holding Co.
9,319,117
ITT Inc.
2,512,878
Generac
Holdings Inc.
1,936,542
nVent Electric plc
5,066,955
Curtiss-Wright Corp. 1,164,395
WESCOInternational Inc.
1,549,968
MDU ResourcesGroup Inc.
6,200,700
Sensata Technologies
Holding plc
4,650,619
Advanced Drainage
Systems Inc.
2,269,857
Sonoco Products Co. 2,969,044
Landstar System Inc. 1,092,215
Woodward Inc.
1,823,545
Oshkosh Corp.
1,992,675
MKS
Instruments Inc.
2,019,698
Axalta Coating
Systems Ltd.
6,692,790
Saia Inc.
802,877
MohawkIndustries Inc.
1,640,489
Littelfuse Inc.
755,836MSA Safety Inc.
1,132,179
MasTec Inc.
1,904,436
ExlService
Holdings Inc.
955,736
Acuity Brands Inc.
977,223
Western Union Co.
11,742,087
BWX
Technologies Inc.
2,768,562
Brunswick Corp.
2,200,964
FTI Consulting Inc.
993,842
GXO Logistics Inc.
3,603,587
Exponent Inc.
1,545,077
TopBuild Corp.
973,317
Fluor Corp.
4,319,943
Chart Industries Inc. 1,295,904
Eagle Materials Inc.
1,119,233
Applied Industrial
Technologies Inc.
1,174,382

MarketValue($000)
224,848*

222,443
220,587
219,884
219,551
219,201
218,681
216,876
214,798

*

*

*

*

214,612207,350
203,794
194,932
194,926
194,442
194,056
188,129
187,792
186,060
180,251
177,922
176,173
175,734***

171,129
170,465
168,347
167,691
166,435
163,249
162,506
161,930
161,838
161,689
160,798
158,645
157,822
153,837
153,102152,314
149,729
149,327
148,690148,007***

Crane Holdings Co.
Trex Co. Inc.
Atkore Inc.
Maximus Inc.
EuronetWorldwide Inc.
AMN Healthcare
Services Inc.
Silgan Holdings Inc.
Aerojet Rocketdyne
Holdings Inc.
ManpowerGroup Inc.
Comfort Systems
USA Inc.
Insperity Inc.
Air Lease Corp.
Class A
Triton International
Ltd.
Watts Water
Technologies Inc.
Class A
Ryder System Inc.
Flowserve Corp.
Altra Industrial
Motion Corp.
ASGN Inc.
ATI Inc.
Kirby Corp.
Allison Transmission
Holdings Inc.
Louisiana-Pacific
Corp.
Simpson
Manufacturing Co.
Inc.
HB Fuller Co.
GATX Corp.
Maxar
Technologies Inc.
MSC Industrial Direct
Co. Inc. Class A
XPO Inc.
API Group Corp.
SummitMaterials Inc.
Class AHEICO Corp.
Herc Holdings Inc.
AAON Inc.
Badger Meter Inc.
Armstrong World
Industries Inc.
Franklin Electric Co.
Inc.
Spirit AeroSystems
Holdings Inc.
Class A

－ 58 －

SharesMarketValue($000)

1,449,337
3,349,411
1,209,213
1,850,954

145,586
141,781
137,149
135,730

1,437,952

135,714

1,319,713
2,509,906

135,693130,1142,322,849
1,538,044

129,917
127,981

1,085,800
1,093,509

124,954
124,223

3,209,146

123,295

1,790,495

123,150

832,694
1,454,613
3,958,413

121,765
121,562
121,444

1,979,106
1,445,757
3,938,044
1,823,180

118,252
117,800
117,590
117,3222,802,501

116,584

1,963,421

116,235

1,309,768
1,613,318
1,079,432

116,124
115,546
114,787

2,156,303

111,567

1,360,822
3,313,070
5,748,963

111,179
110,292
108,138

3,611,326
654,552
752,794
1,307,527
890,027

102,526
100,565
99,04598,483
97,0401,399,052

95,961

1,196,312

95,4063,200,138

94,724

バンガード®・トータル・ストック・マーケットETF

Shares
1

*

*

*

*

*

*

*

*
*,1

*
*

*

*

*
*

*
*
*

ADT Inc.
10,394,832
Belden Inc.
1,309,757
Bloom Energy Corp.
Class A
4,925,234
Vontier Corp.
4,823,331
Albany International
Corp. Class A
944,218
EnerSys
1,242,476
Marqeta Inc. Class A 14,942,723
Zurn Elkay Water
Solutions Corp.
4,315,875
ABM Industries Inc. 2,025,405
UniFirst Corp.
459,727
John Bean
Technologies Corp.
965,300
Atlas Air Worldwide
Holdings Inc.
862,194
SPX Technologies Inc. 1,311,548
Federal Signal Corp. 1,852,223
Forward Air Corp.
819,494
Shift4 Payments Inc.
Class A
1,532,163
Terex Corp.
1,954,860
Korn Ferry
1,641,858
Esab Corp.
1,740,280
Hillenbrand Inc.
1,885,758
Dycom
Industries Inc.
853,396
Beacon Roofing
Supply Inc.
1,480,209
O-I Glass Inc.
4,708,486
TriNet Group Inc.
1,132,617
Moog Inc. Class A
872,834
ACI Worldwide Inc.
3,263,940
Mercury
Systems Inc.
1,674,353
Hub Group Inc.
Class A
941,707
Otter Tail Corp.
1,269,746
Trinity Industries Inc. 2,470,445
McGrath RentCorp
739,349
ResideoTechnologies Inc.
4,432,712
Encore Wire Corp.
528,462
Brink's Co.
1,335,739
Matson Inc.
1,144,914
Alight Inc. Class A
8,498,896
Itron Inc.
1,383,037
WernerEnterprises Inc.
1,736,203
EnPro Industries Inc.
642,484
ESCO
Technologies Inc.
788,440
CBIZ Inc.
1,466,418
Flywire Corp.
2,718,322
AZEK Co. Inc.
Class A
3,221,271

MarketValue($000)
94,281
94,172

Shares**94,17093,23593,09091,74491,300*91,281
89,96888,723*

88,161*,1*

86,90986,10386,07385,957
85,694
83,512
83,111
81,65480,465**79,87878,14078,02076,791
76,60075,071*

74,911
74,85674,54773,05173,003
72,91872,69571,74371,56971,05170,051
69,90069,832
69,02068,702
66,517

*

*

*

*

*
*
*

*

EVERTEC Inc.
1,995,334
GMS Inc.
1,290,138
Verra Mobility Corp.
Class A
4,637,206
Kadant Inc.
355,221
Brady Corp. Class A
1,335,210
AeroVironment Inc.
721,498
Installed Building
Products Inc.
704,655
Kennametal Inc.
2,504,105
RXO Inc.
3,494,991
Barnes Group Inc.
1,459,573
Air Transport Services
Group Inc.
2,220,026
Affirm Holdings Inc.
Class A
5,962,437
ICF International Inc.
576,291
Bread Financial
Holdings Inc.
1,505,564
CSW Industrials Inc.
483,294
Griffon Corp.
1,559,314
MasoniteInternational Corp.
684,892
Lindsay Corp.
336,731
HeliosTechnologies Inc.
989,120
NV5 Global Inc.
405,637
Greif Inc. Class A
791,276
Mueller Water
Products Inc.
Class A4,768,560
International
Seaways Inc.
1,341,283
ArcBest Corp.
702,329
Evo Payments Inc.
Class A
1,452,726
Veritiv Corp.
387,255
MYR Group Inc.
509,211
GraniteConstruction Inc.
1,322,561
AAR Corp.
1,013,774
Enerpac Tool Group
Corp. Class A
1,770,748
Gibraltar
Industries Inc.
970,231FTAI Aviation Ltd.
2,596,900
Huron Consulting
Group Inc.
604,616
Alamo Group Inc.
309,690
H&E Equipment
Services Inc.
933,448
CoreCivic Inc.
3,584,068
Enovix Corp.
3,326,542
Core & Main Inc.
Class A
2,120,695
Payoneer Global Inc.
7,439,917

65,456－ 59 －

MarketValue($000)
64,60964,24964,13363,09862,88861,80460,31860,24960,114
59,62457,67657,65757,08256,70056,02855,80855,20954,83753,84853,67453,06351,31049,65449,191
49,16047,13346,883
46,38245,51845,06644,51444,45943,89543,852
42,37941,432
41,382
40,951
40,696

バンガード®・トータル・ストック・マーケットETF

*

*
*

*

*

*

*
*
*

*

*,1
*
*

*
*

*

*

*

*

Kratos Defense &Security
Solutions Inc.
Patrick Industries Inc.
Standex International
Corp.
OSI Systems Inc.
Vicor Corp.
TriMas Corp.
AvidXchange
Holdings Inc.
Gates Industrial
Corp. plc
Primoris Services
Corp.
Marten Transport Ltd.
Kforce Inc.
Tennant Co.
Montrose
Environmental
Group Inc.
Greenbrier Cos. Inc.
Energy Recovery Inc.
PGT Innovations Inc.
Construction
Partners Inc.
Class A
Wabash National
Corp.
Hillman Solutions
Corp.
Rocket Lab USA Inc.
Masterbrand Inc.
ModineManufacturing Co.
ApogeeEnterprises Inc.
AZZ Inc.
Remitly Global Inc.
Sterling
Infrastructure Inc.
Cross Country
Healthcare Inc.
Hayward
Holdings Inc.
Donnelley Financial
Solutions Inc.
Astec Industries Inc.
Schneider
National Inc.
Class B
Napco Security
Technologies Inc.
CRA
International Inc.
Mesa
Laboratories Inc.

SharesMarketValue($000)

3,873,242
651,206

39,972
39,463

370,891
474,159
687,153
1,317,739

37,98337,70536,93436,554

3,641,244

36,194

3,055,726

34,866

Shares

*,1

*

*
*

1,587,771
1,741,453
622,514548,199

34,83634,44634,13233,753****753,788
948,862
1,542,662
1,744,942

33,461
31,81531,60931,339

*
*,1
*,1
*,1

1,171,251

31,261

1,364,206

30,831*

4,261,443
8,071,932
3,912,619

30,72530,431
29,540**1,483,829

29,469656,760
726,124
2,545,529

29,20029,19029,146873,382

28,647

1,065,059

28,2993,008,475

28,280703,483
668,601

27,19027,185

*,1

*
*
*
*
*

*
*

*

1,144,186

26,774

972,857

26,734

210,751

25,802

154,969

25,757****

Columbus McKinnon
Corp.
792,747
Joby Aviation Inc.
7,648,252
TTEC Holdings Inc.
567,356
Quanex Building
Products Corp.
1,048,900
International Money
Express Inc.
1,007,480
Titan Machinery Inc.
612,978
CryoPort Inc.
1,396,316
MirionTechnologies Inc.
3,655,360
DouglasDynamics Inc.
666,232
American Woodmark
Corp.
487,299
JELD-WEN
Holding Inc.
2,453,900
Myers Industries Inc. 1,064,615
TitanInternational Inc.
1,526,933
Shyft Group Inc.
929,754
Proterra Inc.
6,100,871
Nikola Corp.
10,513,601
Legalzoom.com Inc. 2,932,007
Virgin Galactic
Holdings Inc.
6,498,979
Conduent Inc.
5,553,255
Aspen Aerogels Inc. 1,894,081
Deluxe Corp.
1,314,727
Heartland
Express Inc.
1,421,064
Green Dot Corp.
Class A
1,377,254
PureCycle
Technologies Inc.
3,186,067
Paya Holdings Inc.
2,690,758
Proto Labs Inc.
822,107
SP Plus Corp.
601,630First Advantage Corp. 1,578,966
ZipRecruiter Inc.
Class A
1,244,212
Leonardo DRS Inc.
1,588,300
Thermon Group
Holdings Inc.
995,677
Barrett Business
Services Inc.
211,351
Chase Corp.
228,012
Vivint Smart
Home Inc.
1,596,857
Triumph Group Inc.
1,794,321
Cass Information
Systems Inc.
408,138
Repay Holdings Corp.
Class A
2,322,791
Janus International
Group Inc.
1,950,110
TrueBlue Inc.
942,024－ 60 －

MarketValue($000)
25,74025,62225,037
24,83824,552
24,35424,22624,16224,091
23,80923,68023,66623,393
23,11423,00022,70922,694
22,61622,491
22,331
22,324
21,79921,78821,53821,176
20,98820,88920,527
20,43020,29819,993
19,715
19,66819,003
18,876
18,701
18,69818,56518,445

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*

*

*

*
*
*

1

*

*

*
*
*,1

*
*

*

*

*

*

*
*

BlueLinx
Holdings Inc.
258,113
Kaman Corp.
815,429
Pitney Bowes Inc.
4,751,486
I3 Verticals Inc.
Class A
707,059
Ennis Inc.
770,417
Gorman-Rupp Co.
665,592
Resources
Connection Inc.
902,924Franklin Covey Co.
349,702
Heidrick & Struggles
International Inc.
580,522
FARO
Technologies Inc.
546,929
Ducommun Inc.
315,153
Argan Inc.
426,696
Kelly Services Inc.
Class A
921,762
Insteel Industries Inc.
533,757
Transcat Inc.
203,696
TaskUS Inc. Class A
839,369
CIRCORInternational Inc.
591,811
Eagle Bulk
Shipping Inc.
283,417
VSE Corp.
291,711
Allied Motion
Technologies Inc.
388,182
Target Hospitality
Corp.
883,697
Vishay Precision
Group Inc.
346,096
Cimpress plc
477,287
DXP Enterprises Inc.
478,217
AuroraInnovation Inc.
10,860,578
V2X Inc.
316,924
Forrester
Research Inc.
359,746
REV Group Inc.
1,017,861
Perella Weinberg
Partners Class A
1,278,425
Pactiv Evergreen Inc. 1,068,389
National Presto
Industries Inc.
174,466
HudsonTechnologies Inc.
1,149,613
Custom Truck One
Source Inc.
1,831,243
Great Lakes Dredge& Dock Corp.
1,843,428
Babcock & Wilcox
Enterprises Inc.
1,843,405
Manitowoc Co. Inc.
1,083,726
CECO Environmental
Corp.
843,032
Cadre Holdings Inc.
488,900

MarketValue($000)*

18,35418,18418,056
17,21017,072
17,052*,1**

16,596
16,356*,1

16,237***

16,085
15,745
15,737***,1

15,578
14,68914,43614,185*

14,18014,154
13,675**,1

13,513
13,379*,1

13,377
13,17813,175
13,141
13,086*,1**

12,865
12,845*

12,52912,137
11,944***

11,634*

11,573*

10,968*,1

10,636
9,927
*,1

9,847
9,846

AerSale Corp.
Powell Industries Inc.
LSI Industries Inc.
Desktop Metal Inc.
Class AFTAIInfrastructure Inc.
Tutor Perini Corp.
ShotSpotter Inc.
Sterling Check Corp.
Hyliion Holdings
Corp.
Luna Innovations Inc.
BrightView
Holdings Inc.
IES Holdings Inc.
Astronics Corp.
Velo3D Inc.
Miller Industries Inc.
Park Aerospace Corp.
HireRight Holdings
Corp.
Universal Logistics
Holdings Inc.
United States Lime &Minerals Inc.
Daseke Inc.
WorkhorseGroup Inc.
Covenant Logistics
Group Inc. Class A
Microvast
Holdings Inc.
TuSimple
Holdings Inc.
Class A
Radiant Logistics Inc.
Archer Aviation Inc.
Class A
Hyster-Yale Materials
Handling Inc.
Willdan Group Inc.
Greif Inc. Class B
Commercial Vehicle
Group Inc.
Cantaloupe Inc.
DHI Group Inc.
Ranpak Holdings
Corp. Class A
Performant Financial
Corp.
Blade Air
Mobility Inc.
KronosWorldwide Inc.
ShiftPixy Inc.

－ 61 －

SharesMarketValue($000)

605,262271,733
777,330

9,817
9,560
9,515

6,996,405

9,515

3,188,200
1,210,073
260,978
566,975

9,405
9,136
8,829
8,771

3,720,847
960,256

8,707
8,441

1,219,101
235,697808,671
4,652,256
308,624
610,019

8,400
8,384
8,329
8,328
8,228
8,180

676,654

8,025

230,693

7,714

53,7081,310,814

7,560
7,459

4,801,523

7,298

209,606

7,246

4,657,800

7,126

4,277,881
1,368,861

7,016
6,967

3,679,429

6,881

269,570
379,924
85,951

6,823
6,782
6,724

986,674
1,518,675
1,239,544

6,719
6,606
6,557

1,135,957

6,554

1,777,229

6,416

1,780,179

6,373

666,260
298,600

6,263
6,256

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*

*

*,1

*

*
*
*

*
*

*

*

*
*
*

*
*

*

*,1
*,1

*

*,1
*,1

*,1
*
*,1

*,1

*

*
*
*

Overseas
Shipholding
Group Inc. Class A
Bowman Consulting
Group Ltd. Class A
Acacia Research
Corp.
Distribution Solutions
Group Inc.
Danimer
Scientific Inc.
Class A
PAM Transportation
Services Inc.
BGSF Inc.
Hurco Cos. Inc.
Blue Bird Corp.
CPI Card Group Inc.
Advantage
Solutions Inc.
Iteris Inc.
Atlas TechnicalConsultants Inc.
Class A
Quad/Graphics Inc.
Information Services
Group Inc.
Evolv Technologies
Holdings Inc.
CS Disco Inc.
Velodyne Lidar Inc.
Concrete Pumping
Holdings Inc.
Yellow Corp.
Core Molding
Technologies Inc.
L B Foster Co.
Class A
View Inc.
BlackSky
Technology Inc.
Class A
Atlanticus Holdings
Corp.
Terran Orbital Corp.
Virgin Orbit
Holdings Inc.
Skillsoft Corp.
EVI Industries Inc.
Byrna
Technologies Inc.
Global BusinessTravel Group I
RCM
Technologies Inc.
Graham Corp.
Mistras Group Inc.
DLH Holdings Corp.

MarketValue($000)*,1

2,157,938

6,236

281,0366,141

1,349,295

5,681

144,378

5,322

2,920,239

5,227

196,206
327,376
189,475
456,096
132,336

5,082
5,015
4,951
4,885
4,775

2,262,148
1,478,666

4,705
4,599

*

*
*,1

*

*

*,1

*,1

*,1
*

880,011
1,103,900

4,532
4,504

977,121

4,495

1,718,460
700,982
5,956,174

4,451
4,430
4,400

737,042
1,705,847

4,312
4,282

316,688

4,114

421,226
4,168,453

4,077
4,022

*,1
*
*,1
*,1
*,1
*,1

*,1

*

*,1
*
*

*,1

2,605,410

4,012

150,156
2,419,100

3,934
3,822

2,044,300
2,900,886
155,167

3,782
3,771
3,704

472,1143,701

544,900

3,678

294,549
377,551
709,943
292,132

3,635
3,632
3,500
3,466

*
*,1

*
*
*,1
*

*
*,1

*,1
*

*

Hyzon Motors Inc.
PFSweb Inc.
GencorIndustries Inc.
Twin Disc Inc.
Paymentus
Holdings Inc.
Class A
Mayville Engineering
Co. Inc.
Park-Ohio Holdings
Corp.
Willis Lease Finance
Corp.
Markforged Holding
Corp.
SKYX Platforms
Corp.
ARC Document
Solutions Inc.
MSP Recovery Inc.
Innovative Solutions& Support Inc.
Spire Global Inc.
Paysign Inc.
Smith-Midland Corp.
Moneylion Inc.
INNOVATE Corp.
Eos EnergyEnterprises Inc.
MICT Inc.
Karat Packaging Inc.
LimbachHoldings Inc.
HireQuest Inc.
Astra Space Inc.
Hudson Global Inc.
Orion Group
Holdings Inc.
Cepton Inc.
Latch Inc.
Knightscope Inc.
Class AStarTek Inc.
GEE Group Inc.
Energous Corp.
Frequency
Electronics Inc.
Alpha Pro Tech Ltd.
Katapult
Holdings Inc.
AEye Inc.
Hydrofarm HoldingsGroup Inc.
Orion Energy
Systems Inc.

－ 62 －

SharesMarketValue($000)

2,227,561
559,304

3,453
3,440

332,487342,600

3,358
3,330

404,5333,240

251,155

3,180

258,617

3,163

53,2453,142

2,651,263

3,075

1,219,153

3,072

1,040,504
1,855,915

3,049
2,969

353,301
2,946,300
1,077,060
127,258
4,172,254
1,371,484

2,904
2,828
2,779
2,609
2,587
2,565

1,694,200
2,994,134
171,091

2,507
2,485
2,459

232,517
149,263
5,320,648
100,173

2,420
2,360
2,308
2,267

939,452
1,753,500
3,068,500

2,236
2,227
2,178

1,010,525
457,2033,354,057
1,958,094

1,910
1,714
1,643
1,637

228,179
398,671

1,609
1,603

1,643,191
3,258,500

1,572
1,566

950,421

1,473

765,432

1,393

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*
*
*

*,1

*
*

*,1

*
*

*
*,1
*,1
*,1

*

*,1

*,1
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*
*

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*

*

*
*,1

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*
*,1
*

*,1

US Xpress
Enterprises Inc.
Class A
Research
Solutions Inc.
Lightbridge Corp.
Ultralife Corp.
Sarcos Technology &Robotics Corp.
Momentus Inc.
Class A
RF Industries Ltd.
Priority Technology
Holdings Inc.
Coda Octopus
Group Inc.
VirTra Inc.
LS Starrett Co.
Class A
Usio Inc.
Rekor Systems Inc.
Berkshire Grey Inc.
Odyssey Marine
Exploration Inc.
Class B
FreightCar
America Inc.
Wrap
Technologies Inc.
Redwire Corp.
Sono-Tek Corp.
BitNile Holdings Inc.
Where Food Comes
From Inc.
Air T Inc.
IZEA Worldwide Inc.
LightPath
Technologies Inc.
Class A
Broadwind Inc.
AgEagle Aerial
Systems Inc.
Wireless Telecom
Group Inc.
FG Group
Holdings Inc.
Sypris Solutions Inc.
Applied DNA
Sciences Inc.
LightningeMotors Inc.
Fuel Tech Inc.
Xos Inc.
Espey Manufacturing& Electronics Corp.
Orbital InfrastructureGroup Inc.

MarketValue($000)

Shares752,668

1,362

700,394345,233
348,051

1,352
1,343
1,343

*

2,362,032

1,326

*,1

1,648,139
249,088

1,285
1,270

*

239,738

1,261

*,1

*
*

*
*

*,1

183,470
262,879

1,259
1,230

166,241
757,304
1,005,498
1,873,972

1,224
1,212
1,207
1,132

*
*,1

*
*,1
*,1

*,1

290,463

1,127

350,356

1,121

658,952
562,616
157,600
8,202,267

1,114
1,114
1,012
1,005

69,36032,8601,398,592

969
824
759

*,1

*
*,1
*

*

*

*,1

*,1
*

619,617
385,036756
689

1,950,222

683

339,257

607

226,990286,226

595
578

346,633575

1,485,715
424,566
1,199,595

545
539
531

36,920524

2,398,886

473

*,1
*
*,1
*

*

*

*,1

*

*,1

*

TaitronComponents Inc.
Class A
126,100
CompoSecure Inc.
79,739Astrotech Corp.
38,881
Biotricity Inc.
845,735
Williams Industrial
Services Group Inc.
366,258
Dominari
Holdings Inc.
111,013
Team Inc.
67,315
TSR Inc.
50,537
ClearSign
Technologies Corp.
584,529
Air Industries Group69,263
ENGlobal Corp.
378,679
Pioneer Power
Solutions Inc.
107,157
Horizon Global Corp.
737,857
AmpliTech Group Inc.
132,700
AerocleanTechnologies Inc.
77,685
Digital Ally Inc.
1,045,002
TOMI Environmental
Solutions Inc.
484,669
DSS Inc.
1,292,763
Polar Power Inc.
156,102
Jewett-Cameron
Trading Co. Ltd.
33,538
Shapeways
Holdings Inc.
354,017
M-TronIndustries Inc.
21,794
Safe & Green
Holdings Corp.
124,227
Nuvve Holding Corp.
234,173
Sidus Space Inc.
Class A
134,281
OLB Group Inc.
172,095
LGL Group Inc.
30,781Ryvyl Inc.
263,629
Socket Mobile Inc.
60,175P&F Industries Inc.
Class A
19,762Servotronics Inc.
8,633
AutoscopeTechnologies Corp.
20,187
Manitex
International Inc.
8,258
Staffing 360
Solutions Inc.
8,115
Fathom Digital
Manufacturing C
8,300
AppTech Payments
Corp.
4,100
Art's-Way
Manufacturing Co.
Inc.
4,484

－ 63 －

MarketValue($000)

434
392
388
381
374
361
353
343
313
294
292
287
287
281
243
243
238
212
201
193
193
191
170
157
146
144
125
121
117
99
91
73
33
23
11
10
9

バンガード®・トータル・ストック・マーケットETF

*,2
*

*

Patriot National Inc.
Ardagh Group SA
Class ALGL Group Inc.
Warrants Exp.
12/16/25

SharesMarketValue($000)

129,819

—

37

—

2,391

—

Shares156,778,170
Real Estate (3.4%)
Prologis Inc.
28,071,854
American Tower
Corp.
14,159,997
Equinix Inc.
2,814,333
Crown Castle Inc.
13,169,960
Public Storage
4,540,330
Realty Income Corp. 19,064,759
Simon Property
Group Inc.
9,944,803*
CoStar Group Inc.
12,365,660
Welltower Inc.
14,371,569
SBA
Communications
Corp. Class A
3,281,949
Digital Realty
Trust Inc.
8,745,029
VICI Properties Inc. 25,554,170
Alexandria Real
Estate Equities Inc. 4,990,552*
CBRE Group Inc.
Class A
9,149,676
Weyerhaeuser Co.
22,372,185
AvalonBay
Communities Inc.
4,254,627
Equity Residential
10,920,323
Extra Space
Storage Inc.
4,071,709
Mid-America
Apartment
Communities Inc.
3,511,214
Invitation Homes Inc. 18,595,550
Ventas Inc.
12,161,508
SunCommunities Inc.
3,765,629
WP Carey Inc.
6,327,113
Iron Mountain Inc.
8,833,577
Essex Property
Trust Inc.
1,970,033
Healthpeak
Properties Inc.
16,344,278
Kimco Realty Corp. 18,769,832
Gaming & Leisure
Properties Inc.
7,434,538
UDR Inc.
9,888,406
Camden Property
Trust
3,235,736
Host Hotels &Resorts Inc.
21,754,252

3,164,540
2,999,937
1,843,473
1,786,373
1,272,155
1,209,278
1,168,315
955,618
942,056
919,963*876,864
827,955
726,974
704,159
693,538
687,207644,299599,274
551,226
551,172
547,876*

538,485
494,464
440,354
417,489
409,751
397,545387,265
382,978
362,014349,156

Equity LifeStyle
Properties Inc.
5,089,517
Regency Centers
Corp.
5,198,185
Rexford Industrial
Realty Inc.
5,573,334
BostonProperties Inc.
4,284,619
CubeSmart
6,816,908
American Homes 4
Rent Class A
8,586,374
Life Storage Inc.
2,587,160
Lamar Advertising
Co. Class A
2,649,309
Federal Realty
Investment Trust
2,467,526
National Retail
Properties Inc.
5,419,969
STORE Capital Corp. 7,721,004
Americold Realty
Trust Inc.
8,198,633
Jones Lang
LaSalle Inc.
1,444,748
Healthcare Realty
Trust Inc. Class A
11,569,048
Brixmor Property
Group Inc.
9,072,087
Medical Properties
Trust Inc.
18,158,335
Omega Healthcare
Investors Inc.
7,119,301
EastGroup
Properties Inc.
1,325,066
First Industrial Realty
Trust Inc.
4,004,015
Agree Realty Corp.
2,681,423
STAG Industrial Inc.
5,462,419
Spirit Realty
Capital Inc.
4,263,338
Apartment Income
REIT Corp. Class A 4,605,051
Zillow Group Inc.
Class C4,899,243
Rayonier Inc.
4,447,915
Kite Realty Group
Trust
6,639,872
Kilroy Realty Corp.
3,545,183
Ryman Hospitality
Properties Inc.
1,589,519
Terreno Realty Corp. 2,208,805
Cousins
Properties Inc.
4,617,142
Independence Realty
Trust Inc.
6,823,832
Phillips Edison & Co.
Inc.
3,548,191
Vornado Realty Trust 5,281,480
PotlatchDeltic Corp.
2,450,399－ 64 －

MarketValue($000)
328,783
324,887
304,527
289,555
274,381258,793
254,835
250,095
249,319
248,018
247,535
232,103230,250
222,936
205,664
202,284
198,984
196,189
193,234
190,193
176,491
170,235
157,999
157,805
146,603
139,769
137,092
129,991
125,615
116,768
115,050
112,974
109,908
107,793

バンガード®・トータル・ストック・マーケットETF

Shares*,1

1*

Essential Properties
Realty Trust Inc.
4,374,284
Physicians Realty
Trust
6,929,270
Apple Hospitality
REIT Inc.
6,222,898
National Storage
Affiliates Trust
2,630,659
Highwoods
Properties Inc.
3,217,026
Corporate Office
Properties Trust
3,428,085
Sabra Health Care
REIT Inc.
6,970,017
Innovative Industrial
Properties Inc.
849,282
EPR Properties
2,274,676
LXP Industrial Trust
8,489,172
Broadstone Net
Lease Inc.
5,022,510
EquityCommonwealth3,194,059
Douglas Emmett Inc. 5,070,434
Howard HughesCorp.
1,034,131
Hannon Armstrong
Sustainable
Infrastructure
Capital Inc.
2,723,437
Park Hotels &Resorts Inc.
6,490,659
SITE Centers Corp.
5,519,346
Outfront Media Inc.
4,478,178
Macerich Co.
6,555,435
JBG SMITH
Properties
3,473,430
SL Green RealtyCorp.
1,940,860
Four Corners
Property Trust Inc.
2,518,781
National HealthInvestors Inc.
1,243,893
Sunstone Hotel
Investors Inc.
6,406,404
Cushman &Wakefield plc
4,793,912
Kennedy-Wilson
Holdings Inc.
3,583,854
CareTrust REIT Inc.
2,941,443
Retail Opportunity
Investments Corp.
3,627,228
Pebblebrook Hotel
Trust
4,024,072
Tanger Factory Outlet
Centers Inc.
2,995,208
DigitalBridge
Group Inc.
4,854,511

MarketValue($000)
102,664
100,267
98,197
95,01990,012
88,92586,637*

86,07585,80185,06281,41579,756
79,50479,028*78,92576,52575,39474,24873,81465,926*65,44665,31264,956
61,88659,73256,37454,652*54,51753,88253,734
53,108

DiamondRock
Hospitality Co.
RLJ Lodging Trust
Elme Communities
Urban Edge
Properties
InvenTrust Properties
Corp.
Xenia Hotels &Resorts Inc.
LTC Properties Inc.
Getty Realty Corp.
Veris Residential Inc.
Hudson Pacific
Properties Inc.
Acadia Realty Trust
Alexander &Baldwin Inc.
Easterly Government
Properties Inc.
Class A
Uniti Group Inc.
American Assets
Trust Inc.
Global Net Lease Inc.
GEO Group Inc.
St. Joe Co.
Service Properties
Trust
ParamountGroup Inc.
Piedmont Office
Realty Trust Inc.
Class A
Zillow Group Inc.
Class A
Empire State Realty
Trust Inc. Class A
Brandywine Realty
Trust
Newmark Group Inc.
Class A
Apartment
Investment &Management Co.
Class A
NexPoint Residential
Trust Inc.
NETSTREIT Corp.
Radius Global
Infrastructure Inc.
RPT Realty
Centerspace
Community
Healthcare Trust Inc.
Plymouth Industrial
REIT Inc.

－ 65 －

SharesMarketValue($000)

6,398,737
4,945,600
2,726,831

52,40652,374
48,5383,402,084

47,935

1,959,753

46,3873,493,149
1,221,233
1,266,179
2,686,816

46,04043,39042,86042,8014,370,707
2,912,504

42,527
41,7942,211,166

41,4152,814,966
7,164,853

40,17039,622

1,488,186
3,135,658
3,590,246
999,745

39,43739,41539,31338,6405,050,565

36,8195,914,575

35,133

3,788,999

34,745

1,083,087

33,803

5,005,870

33,7405,380,893

33,093

3,957,178

31,5394,331,912

30,843

677,616
1,549,386

29,49028,4002,290,762
2,686,489
455,138

27,077
26,972
26,703

740,782

26,5201,354,907

25,987

バンガード®・トータル・ストック・マーケットETF

Shares

1

*

*

*,1

1

*

*,1
*

*

Marcus &Millichap Inc.
742,423
eXp World
Holdings Inc.
2,296,413
UMH Properties Inc. 1,524,833
Armada Hoffler
Properties Inc.
2,118,054
Necessity Retail
REIT Inc. Class A
3,941,256
Summit Hotel
Properties Inc.
3,173,275
Gladstone
Commercial Corp.
1,182,896
Safehold Inc.
761,747
Anywhere Real
Estate Inc.
3,293,319
Office Properties
Income Trust
1,553,526
Gladstone LandCorp.
1,118,425
Compass Inc.
Class A
8,507,087
Opendoor
Technologies Inc.
16,341,522
Chatham Lodging
Trust1,474,768
Saul Centers Inc.
432,397
FarmlandPartners Inc.
1,408,234
Global Medical
REIT Inc.
1,827,279
Universal Health
Realty Income Trust
355,007
Ares Commercial
Real Estate Corp.
1,520,824
Orion Office
REIT Inc.
1,773,249
Whitestone REIT
1,512,138
Redfin Corp.
3,051,525
Alexander's Inc.
58,505RMR Group Inc.
Class A
443,704
WeWork Inc.
8,465,950
Seritage Growth
Properties Class A
1,013,232
One Liberty
Properties Inc.
534,493
Urstadt Biddle
Properties Inc.
Class A
614,832
CTO Realty
Growth Inc.
630,295
Tejon Ranch Co.
610,106
City Office REIT Inc.
1,177,661
Bridge Investment
Group Holdings Inc.
Class A
806,505

MarketValue($000)
25,57625,44424,550*24,35823,372
22,911*

21,88421,801
21,044
20,74020,523
19,822
18,956*18,095
17,59017,547
17,323
16,944
15,649*15,144
14,577
12,93812,875
12,535
12,106***

11,987*

11,876*

1

11,651
11,522
11,494
9,869

*
*
*

9,718

RE/MAX
Holdings Inc.
Class A
Hersha Hospitality
Trust Class A
FRP Holdings Inc.
Indus Realty
Trust Inc.
Braemar Hotels &Resorts Inc.
Forestar Group Inc.
Douglas Elliman Inc.
Franklin Street
Properties Corp.
Postal Realty
Trust Inc. Class A
Industrial Logistics
Properties Trust
BRT Apartments
Corp.
Alpine Income
Property Trust Inc.
Urstadt Biddle
Properties Inc.
Ashford Hospitality
Trust Inc.
Stratus
Properties Inc.
DiversifiedHealthcare Trust
Modiv Inc. Class C
Clipper Realty Inc.
Creative Media &Community Trust
Corp.
Bluerock Homes
Trust Inc.
Altisource Portfolio
Solutions SA
Maui Land &Pineapple Co. Inc.
Global Self
Storage Inc.
AMREP Corp.
Rafael Holdings Inc.
Class B
Comstock Holding
Cos. Inc. Class A
New York City
REIT Inc. Class A
CorEnergy
Infrastructure
Trust Inc.
Sotherly Hotels Inc.
Fathom Holdings Inc.
Trinity Place
Holdings Inc.

－ 66 －

SharesMarketValue($000)

519,3229,680

1,109,885
170,118

9,456
9,163

136,973

8,696

2,097,772
538,939
1,920,937

8,622
8,305
7,818

2,758,628

7,531

503,103

7,310

2,135,037

6,982

355,404

6,980

326,561

6,231

340,991

6,209

1,160,323

5,187

235,957

4,552

6,421,459
224,372
405,295

4,153
2,692
2,594

477,630

2,340

109,382

2,331

195,665

1,851

192,501

1,813

319,661
115,952

1,560
1,339

381,611714

164,051

699

395,144699

293,803337,859
144,051

614
612
612

756,919560

バンガード®・トータル・ストック・マーケットETF

*,1

*
*

*,2

1

*
*,1
1

*,1

*

*
*,2
*,1

Offerpad
Solutions Inc.
Power REIT
Avalon GloboCareCorp.
New York REIT
Liquidating LLC
Presidio Property
Trust Inc. Class A
Wheeler REIT Inc.
Alset Inc.
Generation Income
Properties Inc.
Harbor Custom
Development Inc.
Medalist Diversified
REIT Inc.
Presidio Property
Trust Inc. Warrants
Exp. 1/24/27
JW Mays Inc.
Spirit MTA REIT
Pennsylvania REIT

SharesMarketValue($000)

1,145,520
72,668528
287

486,240

253*

19,100214*

184,525
130,830
77,598

185
179
178

32,616

158

127,370

50

48,881

35

110,319100
2,854,330
3

6
5
—
—

Shares

*

*

*
*

*
*

*

38,923,536
Technology (23.3%)
Apple Inc.
459,623,200
Microsoft Corp.
226,710,185*
Alphabet Inc. Class A181,777,406*
Alphabet Inc. Class C157,203,318
NVIDIA Corp.
71,076,358*
Meta Platforms Inc.
Class A
68,388,680
Broadcom Inc.
12,316,850*
Adobe Inc.
14,138,391
Texas
Instruments Inc.
27,596,559
International
Business MachinesCorp.
27,498,107*
Salesforce Inc.
28,893,138
QUALCOMM Inc.
34,093,490
Oracle Corp.
45,096,132
Intel Corp.
125,513,881*
Advanced Micro
Devices Inc.
49,036,817
Intuit Inc.
8,116,959
AppliedMaterials Inc.
26,165,880
Analog Devices Inc. 15,487,728*
ServiceNow Inc.
6,143,380
Lam Research Corp.
4,147,939
MicronTechnology Inc.
33,061,567
KLA Corp.
4,308,991*
Synopsys Inc.
4,649,526
RoperTechnologies Inc.
3,224,370

59,718,842
54,369,637
16,038,220
13,948,650
10,387,099
8,229,894
6,886,720
4,757,993
4,559,503

*

*

*
*

*
*
*

3,874,208
3,830,941
3,748,238
3,686,158
3,317,332
3,176,115
3,159,283
2,548,033
2,540,452
2,385,290
1,743,379

*
*

*

*

*

1,652,417
1,624,619
1,484,547
1,393,218**

Amphenol Corp.
Class A
18,109,473
Cadence Design
Systems Inc.
8,340,108
Palo Alto
Networks Inc.
9,195,817
Autodesk Inc.
6,561,625
Snowflake Inc.
Class A
8,271,044
MicrochipTechnology Inc.
16,727,199
TE Connectivity Ltd. 9,655,712
Workday Inc. Class A 6,113,831
Fortinet Inc.
20,193,591
MarvellTechnology Inc.
25,943,566
Cognizant Technology
Solutions Corp.
Class A
15,638,586
VMware Inc. Class A 7,103,355
ON SemiconductorCorp.
13,152,359
Gartner Inc.
2,282,610
HP Inc.
27,540,071
Corning Inc.
23,159,196
CDW Corp.
4,118,435
Crowdstrike
Holdings Inc.
Class A
6,533,823
ANSYS Inc.
2,648,559
Hewlett Packard
Enterprise Co.
39,154,154
Datadog Inc. Class A 7,996,299
Atlassian Corp.
Class A
4,510,535
VeriSign Inc.
2,740,406
EPAM Systems Inc.
1,662,085
PaycomSoftware Inc.
1,549,505
Monolithic Power
Systems Inc.
1,356,612
Skyworks
Solutions Inc.
4,871,359
Leidos Holdings Inc.
4,157,814
Pinterest Inc. Class A 17,849,136
Zoom Video
Communications
Inc. Class A
6,334,134
DoorDash Inc.
Class A
8,748,963
Splunk Inc.
4,943,142
Teradyne Inc.
4,734,131
Tyler
Technologies Inc.
1,264,675
HubSpot Inc.
1,404,674
AkamaiTechnologies Inc.
4,786,431
NetApp Inc.
6,612,339－ 67 －

MarketValue($000)
1,378,855
1,339,755
1,283,184
1,226,171
1,187,226
1,175,086
1,108,476
1,023,027
987,265
960,950
894,371872,008
820,313
767,277
740,002739,705
735,470
687,946
639,865
624,900
587,728
580,416
562,989544,732
480,827
479,712443,927
437,360
433,377
429,074
427,124
425,555
413,526
407,744406,133
403,496
397,137

バンガード®・トータル・ストック・マーケットETF

Shares
*

*
*

*
*

*

*

*

*

*

*
*

*
*
*
*

*,1

*
*
*

*
*

*

*

*

*
*
*

MongoDB Inc.
Class A
1,983,423
PTC Inc.
3,211,622
Cloudflare Inc.
Class A
8,219,486
Gen Digital Inc.
16,823,719
GoDaddy Inc. Class A 4,723,189
Match Group Inc.
8,498,001
SS&C Technologies
Holdings Inc.
6,527,138
DocuSign Inc.
Class A
6,099,472
Palantir
Technologies Inc.
Class A
51,181,704
ZoomInfo
Technologies Inc.
Class A
10,438,973
Seagate Technology
Holdings plc
5,963,204Western Digital Corp. 9,674,998
Dell Technologies Inc.
Class C7,493,533
Okta Inc. Class A
4,380,062
Entegris Inc.
4,529,661
Zscaler Inc.
2,626,856
Ceridian HCM
Holding Inc.
4,433,498
Qorvo Inc.
3,081,737
Black Knight Inc.
4,505,585
Snap Inc. Class A
30,928,419
Lattice
SemiconductorCorp.
4,162,734
Unity Software Inc.
9,432,774
Jabil Inc.
3,891,428
F5 Inc.
1,835,758
Wolfspeed Inc.
3,780,608
Twilio Inc. Class A
5,313,520
Bentley Systems Inc.
Class B
6,733,363
Dynatrace Inc.
6,122,275
Pure Storage Inc.
Class A
8,624,313
Manhattan
Associates Inc.
1,899,341
KBR Inc.
4,171,222
CACI
International Inc.
Class A
714,865
Arrow
Electronics Inc.
1,872,469
Science Applications
International Corp.
1,674,191
Coupa Software Inc. 2,309,715
Nutanix Inc. Class A 6,990,900
Aspen
Technology Inc.
884,115

MarketValue($000)*

390,417385,523
371,603
360,532
353,389352,582****

339,803*

338,033**

328,587
314,317
313,724
305,246
301,390299,290
297,100
293,945
284,409279,329
278,220
276,809

*

*
*

*

*

*

*
*

270,078
269,683
265,395
263,450
261,013260,150
248,865
234,483
230,787
230,580
220,241

*
*
*

*
*

*
*
*
*

*
*
*
*,1

214,881
195,804
185,718
182,860
182,113***

Dropbox Inc. Class A
DXC Technology Co.
Toast Inc. Class A
Concentrix Corp.
Guidewire
Software Inc.
Smartsheet Inc.
Class A
National Instruments
Corp.
Five9 Inc.
Fabrinet
SPS Commerce Inc.
Novanta Inc.
Universal Display
Corp.
Tenable Holdings Inc.
SiliconLaboratories Inc.
Box Inc. Class A
Dolby
Laboratories Inc.
Class A
Coherent Corp.
Vertiv Holdings Co.
Class A
Cirrus Logic Inc.
Power
Integrations Inc.
TD SYNNEX Corp.
Elastic NV
Workiva Inc. Class A
UiPath Inc. Class A
Qualys Inc.
Rambus Inc.
Avnet Inc.
Synaptics Inc.
Super Micro
Computer Inc.
Blackline Inc.
Ziff Davis Inc.
IAC Inc.
Insight
Enterprises Inc.
Teradata Corp.
Envestnet Inc.
Onto Innovation Inc.
Gitlab Inc. Class A
MACOM Technology
Solutions
Holdings Inc.
Diodes Inc.
ProcoreTechnologies Inc.
Dun & Bradstreet
Holdings Inc.

181,597－ 68 －

SharesMarketValue($000)

8,065,440
6,809,525
9,138,626
1,181,625

180,505
180,452
164,769
157,3452,483,233

155,351

3,778,599

148,726

3,995,646
2,146,116
1,116,412
1,097,206
1,035,825

147,439
145,635
143,146
140,914140,738

1,294,919
3,445,763

139,903
131,456

962,814
4,119,789

130,625
128,249

1,813,862
3,588,687

127,950
125,963

9,212,615
1,679,565

125,844
125,094

1,737,467
1,314,534
2,310,512
1,413,247
9,254,895
1,042,269
3,260,139
2,784,963
1,215,585

124,611
124,500
118,991
118,670
117,630
116,974
116,778
115,799
115,675

1,367,278
1,630,363
1,358,788
2,399,808

112,254
109,675
107,480
106,551

1,060,003
3,087,709
1,675,931
1,501,599
2,246,106

106,287
103,932
103,405
102,244
102,063

1,606,931
1,323,264

101,205
100,753

2,089,862

98,6007,939,091

97,333

バンガード®・トータル・ストック・マーケットETF

*
*
*
*
*

*
*
*
*

*
*

*

*

*

*

*
*

*
*

*

*
*,1

*
*
*

*

*

*

*
*
*
*,1

Advanced Energy
Industries Inc.
Sanmina Corp.
Blackbaud Inc.
New Relic Inc.
NCR Corp.
RingCentral Inc.
Class A
Ambarella Inc.
Alteryx Inc. Class A
Plexus Corp.
SentinelOne Inc.
Class A
VishayIntertechnology Inc.
IPG Photonics Corp.
CommVault
Systems Inc.
Confluent Inc.
Class A
Sprout Social Inc.
Class A
Amkor
Technology Inc.
Varonis Systems Inc.
Class B
AxcelisTechnologies Inc.
Perficient Inc.
AltairEngineering Inc.
Class A
Impinj Inc.
MaxLinear Inc.
Class A
Alarm.com
Holdings Inc.
Kyndryl Holdings Inc.
Freshworks Inc.
Class A
Rogers Corp.
Verint Systems Inc.
NetScout
Systems Inc.
Clear Secure Inc.
Class A
PagerDuty Inc.
Progress Software
Corp.
KnowBe4 Inc.
Class A
AllegroMicroSystems Inc.
Appfolio Inc. Class A
nCino Inc.
Rapid7 Inc.
AppLovin Corp.
Class A

SharesMarketValue($000)

1,133,618
1,653,982
1,607,289
1,668,059
3,962,274

97,242
94,757
94,605
94,162
92,757

*

*
*
*

*

2,609,410
1,106,533
1,758,997
845,566

92,37390,99089,12887,034*,1**

5,963,407

87,006

3,931,123
891,864

84,79484,433

1,343,452

84,423

3,787,774

84,240*1,438,284

81,206****

3,364,074

80,6703,187,820

76,316

943,370
1,052,876

74,86673,522

1,613,509
669,226

73,36673,066**

2,149,267

72,968

1,441,425
6,255,300

71,322
69,5594,677,671
572,290
1,875,379

68,80968,29768,0392,087,777

67,8742,473,067
2,473,155

67,836
65,687

1,299,409

65,5552,610,582

64,6902,044,537
559,535
2,215,710
1,699,591

61,37758,96458,58357,752

5,314,404

55,961

*

*
*

*

*
*
*

*
*
*,1

*,1
*
*

*

*
*
*,1
*

*

Allscripts Healthcare
Solutions Inc.
Semtech Corp.
Yelp Inc. Class A
DoubleVerify
Holdings Inc.
Bumble Inc. Class A
CSG Systems
International Inc.
HashiCorp Inc.
Class A
FormFactor Inc.
Parsons Corp.
DigitalOcean
Holdings Inc.
Agilysys Inc.
Xerox Holdings Corp.
MethodeElectronics Inc.
LiveRamp
Holdings Inc.
SiTime Corp.
Model N Inc.
Q2 Holdings Inc.
Cohu Inc.
Ultra Clean
Holdings Inc.
Digital Turbine Inc.
Jamf Holding Corp.
Pegasystems Inc.
TTM
Technologies Inc.
JFrog Ltd.
Cargurus Inc. Class A
CCC Intelligent
Solutions
Holdings Inc.
Paycor HCM Inc.
Magnite Inc.
MicroStrategy Inc.
Class A
Xometry Inc. Class A
Appian Corp. Class A
E2open Parent
Holdings Inc.
Upwork Inc.
Shutterstock Inc.
CTS Corp.
TechTarget Inc.
Everbridge Inc.
Samsara Inc. Class A
ePlus Inc.
A10 Networks Inc.
Qualtrics
International Inc.
Class A－ 69 －

SharesMarketValue($000)

3,161,338
1,929,162
2,013,343

55,76655,34855,0452,483,915
2,559,851

54,54753,885925,548

52,941

1,912,703
2,343,232
1,095,312

52,29352,09050,6581,917,500
609,866
3,279,828

48,83948,26547,885

1,061,221

47,086

1,985,001
453,792
1,103,089
1,661,343
1,376,278

46,528
46,11444,74144,64044,1101,314,737
2,845,488
2,029,942
1,259,450

43,58443,36543,23843,124

2,798,390
1,969,517
2,959,535

42,20042,01041,463

4,726,454
1,660,032
3,831,249

41,12040,621
40,573

285,067
1,223,667
1,194,983

40,35739,43938,9096,465,136
3,570,489
702,876
909,709813,687
1,210,506
2,877,656
801,946
2,126,311

37,95037,27637,05635,86135,85135,80735,76935,51035,361

3,394,615

35,236

バンガード®・トータル・ストック・マーケットETF

*

*,1

*,1
*

*

*
*

*
*
*

*

*,1

*,1
*
*
*

*

*
*
*,1
*
*
*
*
*,1
*
*
*
*

*
*,1

*,1
*
*
*

*

*,1

*

*,1

Zeta Global Holdings
Corp. Class A
Credo Technology
Group Holding Ltd.
C3.ai Inc. Class A
Squarespace Inc.
Class A
Thoughtworks
Holding Inc.
Schrodinger Inc.
ForgeRock Inc.
Class APROS Holdings Inc.
Photronics Inc.
Veeco
Instruments Inc.
Consensus Cloud
Solutions Inc.
Adeia Inc.
Asana Inc. Class A
BenchmarkElectronics Inc.
Braze Inc. Class A
3D Systems Corp.
Fastly Inc. Class A
Momentive
Global Inc.
Duck Creek
Technologies Inc.
Avid Technology Inc.
PDF Solutions Inc.
Planet Labs PBC
Sprinklr Inc. Class A
Zuora Inc. Class A
Sumo Logic Inc.
Ichor Holdings Ltd.
Matterport Inc.
Cerence Inc.
LivePerson Inc.
ScanSource Inc.
SMART Global
Holdings Inc.
Yext Inc.
PAR Technology
Corp.
UserTesting Inc.
N-able Inc.
Olo Inc. Class A
Grid Dynamics
Holdings Inc.
Alpha & Omega
Semiconductor Ltd.
AvePoint Inc.
Simulations Plus Inc.
Informatica Inc.
Class A
IonQ Inc.

SharesMarketValue($000)

4,017,660

32,8242,448,300
2,867,884

32,58732,092

1,354,064

30,020Shares
*

*
*

*

*

2,936,882
1,592,005

29,92729,7551,304,911
1,222,742
1,758,193

29,713
29,66429,590*1,592,329

29,585*,1

544,091
3,049,495
2,088,403

29,25028,90928,757

1,049,006
1,023,274
3,732,912
3,361,313

27,99827,91527,624
27,529

*

*

*

*
*

*

3,822,194

26,7552,215,353
1,000,776
917,483
5,705,087
2,987,601
3,711,427
2,845,248
847,475
7,851,178
1,185,156
2,152,384
729,236

26,695
26,611
26,167
24,817
24,40923,60523,04722,72921,983
21,961
21,82521,3081,409,909
3,175,521

20,97920,736786,360
2,597,409
1,882,441
3,067,735

20,50019,507
19,351
19,173

1,666,570

18,699643,490
4,421,969
475,654

18,385
18,174
17,395

1,056,927
4,817,950

17,217
16,622

*

*
*
*

*
*,1

*,1
*
*
*

*

*

*
*,1

*
*
*

*,1

*

*
*,1

CEVA Inc.
645,647
PC Connection Inc.
342,881
Vertex Inc. Class A
1,081,312
AlkamiTechnology Inc.
1,064,985
BigCommerce
Holdings Inc.
1,768,100
PubMatic Inc.
Class A
1,205,268
KimballElectronics Inc.
681,124Ebix Inc.
765,121
SolarWinds Corp.
1,618,452
Eventbrite Inc.
Class A
2,533,728
Aehr Test Systems
732,904
Hackett Group Inc.
689,753
Amplitude Inc.
Class A
1,158,040
Vimeo Inc.
3,982,389
Bandwidth Inc.
Class A
590,854
AmericanSoftware Inc.
Class A
921,406
Mitek Systems Inc.
1,391,563
indie
Semiconductor Inc.
Class A
2,256,789
EngageSmart Inc.
739,319nLight Inc.
1,264,578
Definitive Healthcare
Corp. Class A
1,161,629
Domo Inc. Class B
876,577
Cvent Holding Corp.
Class A
2,269,000
MicroVision Inc.
4,838,257
Intapp Inc.
453,545
OneSpan Inc.
973,180
Expensify Inc.
Class A
1,226,965
NerdWallet Inc.
Class A
1,080,320
ACM Research Inc.
Class A
1,295,355
Couchbase Inc.
747,916
SmartRent Inc.
Class A
4,002,742
Unisys Corp.
1,893,734
Benefitfocus Inc.
917,128
EverQuote Inc.
Class A
645,954
Tucows Inc. Class A
278,469
NVE Corp.
145,801
Blend Labs Inc.
Class A
6,432,185
ON24 Inc.
1,062,930
Digimarc Corp.
490,852－ 70 －

MarketValue($000)
16,516
16,081
15,69015,53815,453
15,43915,387
15,272
15,14914,84814,731
14,05013,98913,66013,56013,526
13,484
13,15713,012
12,823
12,766
12,482
12,253
11,37011,311
10,89010,834
10,371
9,987
9,917
9,727
9,677
9,593
9,521
9,446
9,441
9,262
9,173
9,076

バンガード®・トータル・ストック・マーケットETF

Shares
*,1

*,1
*
*

*
*

*
*,1
*

*
*
*
*
*
*,1
*
*,1
*
*
*,1
*,1

*
*

*,1
*
*

*,1
*
*,1
*,1
*,1

*
*
*
*,1
*,1

*
*
*,1
*,1

*
*

NavitasSemiconductor
Corp.
SoundHound AI Inc.
Immersion Corp.
Nextdoor
Holdings Inc.
Red Violet Inc.
MediaAlpha Inc.
Class A
Telos Corp.
Enfusion Inc. Class A
SEMrushHoldings Inc.
Class A
Richardson
Electronics Ltd.
EverCommerce Inc.
TrueCar Inc.
MeridianLink Inc.
CoreCard Corp.
Brightcove Inc.
NextNav Inc.
Upland Software Inc.
Groupon Inc. Class A
eGain Corp.
Asure Software Inc.
Veritone Inc.
Rackspace
Technology Inc.
Rimini Street Inc.
Aeva
Technologies Inc.
Rumble Inc.
Porch Group Inc.
Computer Task
Group Inc.
Atomera Inc.
Intevac Inc.
Innovid Corp.
Vroom Inc.
SkyWaterTechnology Inc.
Transphorm Inc.
AXT Inc.
Edgio Inc.
Cleanspark Inc.
Weave
Communications
Inc.
Daktronics Inc.
Pixelworks Inc.
Ouster Inc.
Smith Micro
Software Inc.
Diebold Nixdorf Inc.
Kopin Corp.

MarketValue($000)*

2,424,400
4,658,401
1,102,930

8,510
8,245
7,754

3,659,313
320,472

7,538
7,377

*
*
*,1
*,1

726,568
1,351,503
707,347

7,229
6,879
6,840

822,251

6,693

309,653865,3232,547,978461,628
218,240
1,198,403
2,126,531
853,856
698,916
657,552
632,680
1,079,319

6,605
6,438
6,395
6,338
6,322
6,268
6,231
6,088
5,997
5,938
5,909
5,720

1,911,506
1,477,020

5,639
5,627

*
*
*,1

*
*,1
*

3,931,094
873,200
2,673,021

5,346
5,196
5,025

621,005742,219
709,768
2,584,769
4,332,182

4,695
4,617
4,592
4,420
4,419

*
*,1

*
*
*,1
*
*,1
*,1
*
*

*,1
*,1
*
*,1

*
*,1

*

*
1
*

*

*,1

621,278
793,700
967,301
3,619,157
1,947,178

4,417
4,318
4,237
4,090
3,972

*,1

*

*,1
*

843,625
1,325,348
2,099,613
4,276,255

3,864
3,737
3,716
3,690

1,731,542
2,523,583
2,889,183

3,636
3,583
3,583

*
*,1
*,1
*,1

*

Everspin
Technologies Inc.
inTEST Corp.
Identiv Inc.
System1 Inc.
Applied Digital Corp.
Quantum Corp.
WM Technology Inc.
Arena Group
Holdings Inc.
AstroNova Inc.
VirnetX Holding Corp.
1stdibs.com Inc.
comScore Inc.
Alpine 4
Holdings Inc.
QuickLogic Corp.
Mastech Digital Inc.
LiveVox Holdings Inc.
Arteris Inc.
eMagin Corp.
Vinco Ventures Inc.
Innodata Inc.
Backblaze Inc.
Class A
Phunware Inc.
Skillz Inc. Class A
Amtech Systems Inc.
KULR Technology
Group Inc.
Issuer Direct Corp.
CyxteraTechnologies Inc.
Synchronoss
Technologies Inc.
Steel Connect Inc.
Park City Group Inc.
SecureWorks Corp.
Class A
TransAct
Technologies Inc.
Beachbody Co. Inc.
EmbarkTechnology Inc.
Research
Frontiers Inc.
BuzzFeed Inc.
Streamline Health
Solutions Inc.
EMCORE Corp.
Glimpse Group Inc.
Terawulf Inc.
DecisionPoint
Systems Inc.
CSP Inc.
Loyalty Ventures Inc.

－ 71 －

SharesMarketValue($000)

636,377
338,791
476,807726,600
1,836,200
3,061,313
3,203,513

3,538
3,490
3,452
3,408
3,379
3,337
3,236

301,686
241,7212,309,933
570,459
2,442,580

3,201
3,099
3,003
2,898
2,833

5,195,298
525,294
243,683
898,787
586,2032,923,838
5,348,103
818,315

2,746
2,700
2,683
2,669
2,521
2,485
2,482
2,426

378,125
2,995,747
4,509,252
299,830

2,325
2,317
2,284
2,279

1,895,666
89,309

2,275
2,236

1,124,515

2,159

3,129,535
1,333,595
344,056

1,934
1,907
1,703

263,152

1,682

268,278
3,047,190

1,669
1,603

482,700

1,588

799,655
2,108,022

1,535
1,454

916,198
1,425,083
441,350
1,992,318

1,448
1,372
1,337
1,326

160,700
129,793505,277

1,302
1,224
1,218

バンガード®・トータル・ストック・マーケットETF

Shares
*

*
*
*,1

*
*,1

*,1
*,1

*

*

*

*
*
*
*,1
*
*
*
*,1

*,1

*
*
*,1

*,1
*,1
*

*
*
*
*
*,1
*
*
*

*,1

*

*

*
*,1

Viant Technology Inc.
Class A
299,468
Key Tronic Corp.
270,500
Aware Inc.
617,876
Flux Power
Holdings Inc.
265,036
Intellicheck Inc.
524,781
KORE Group
Holdings Inc.
823,448
Intrusion Inc.
327,757
Quantum
Computing Inc.
675,564
One Stop
Systems Inc.
331,059
CVD Equipment
Corp.
172,490
NetSolTechnologies Inc.
324,880
GSI Technology Inc.
481,492OMNIQ Corp.
175,600
Zedge Inc. Class B
433,006
Cipher Mining Inc.
1,308,472
Inuvo Inc.
3,288,909
Data I/O Corp.
180,859
AudioEye Inc.
162,397
SeaChange
International Inc.
1,192,825
Verb Technology Co.
Inc.
3,198,586
WidePoint Corp.
265,533
Trio-Tech International
105,180
Boxlight Corp.
Class A
1,499,605
Avaya Holdings Corp. 2,265,900
IronNet Inc.
1,890,753
SigmaTron
International Inc.
98,274
BSQUARE Corp.
329,095
GSE Systems Inc.
541,861
Peraso Inc.
496,038
PetVivo Holdings Inc.
173,200
Remark Holdings Inc.
310,306
CYNGN Inc.
479,651
authID Inc.
553,374
SilverSun
Technologies Inc.
104,551
NextPlay
Technologies Inc.
2,541,646
Super League
Gaming Inc.
736,401
Direct Digital
Holdings Inc.
Class A
90,848Bridgeline Digital Inc.
210,329
American Virtual
Cloud
Technologies Inc.
180,236

MarketValue($000)
*

1,204
1,171
1,057

*

1,052
1,050

*,1

*
*

*
*

1,038
1,036
1,020

*,1
*
*,1

996
*

950
926
833
799
762
733
728
718
617
562

*
*,1
*

*
*,1

*
*
*

*
*,1

525
483
473
466
444
435
377
372
368
362
346
341
325
325
309
291
250
223
221
207

*,2

Leafly Holdings Inc.
Kubient Inc.
BTCS Inc.
Duos Technologies
Group Inc.
iPower Inc.
Creative Realities Inc.
VerifyMe Inc.
Data Storage Corp.
Paltalk Inc.
Greenidge
Generation
Holdings Inc.
Class A
Soluna Holdings Inc.
Nortech Systems Inc.
LogicMark Inc.
Recruiter.com
Group Inc.
T Stamp Inc. Class A
Exela
Technologies Inc.
WaveDancer Inc.
Cryptyde Inc.
Sigma Additive
Solutions Inc.
InpixonWaitr Holdings Inc.
Ikonics Corp. CVR

SharesMarketValue($000)

310,600
295,586
280,193

202
189
177

73,218386,294
170,766
85,15764,39365,588

154
147
99
99
94
87

254,255
260,638
5,000
124,022

74
70
63
57

123,854
71,8355437433,800
27,707
66,46636
13
13

26,358
6,333
5,949
7,226

11
11
2
—
268,168,078

Telecommunications (2.4%)
Cisco Systems Inc. 112,455,321
VerizonCommunications
Inc.
121,358,404
Comcast Corp.
Class A
130,976,593
AT&T Inc.
216,754,884*
T-Mobile US Inc.
18,916,548
Motorola
Solutions Inc.
5,086,888*
Charter
Communications
Inc. Class A
3,071,157*
Arista Networks Inc. 6,972,899
Juniper
Networks Inc.
9,878,142*
Liberty Broadband
Corp. Class C
3,663,318*
Ciena Corp.
4,505,869*
Frontier
Communications
Parent Inc.
7,453,365*
Iridium
Communications
Inc.
3,447,007－ 72 －

5,357,371
4,781,521
4,580,251
3,990,457
2,648,317
1,310,942
1,041,429
846,161
315,705
279,401
229,709
189,912
177,176

バンガード®・トータル・ストック・マーケットETF

Shares

*

*
*

*

*

*
*

*

*

*
*

*
*

*

*
*

*

*

*
*
*,1
*

*
*,1
*

*

*
*
*,1

Lumen
Technologies Inc.
31,457,441
Roku Inc. Class A
3,710,537
Cable One Inc.
177,213
Calix Inc.
1,698,043
DISH Network Corp.
Class A
7,572,131
Lumentum
Holdings Inc.
1,965,814
CogentCommunications
Holdings Inc.
1,313,070
Extreme
Networks Inc.
3,973,332
Viavi Solutions Inc.
6,898,039
Viasat Inc.
2,194,013
InterDigital Inc.
894,912CommScope Holding
Co. Inc.
5,995,636
Harmonic Inc.
3,182,421
ADTRAN
Holdings Inc.
2,164,947
Infinera Corp.
5,672,577
Liberty Broadband
Corp. Class A
503,030
Digi International Inc. 1,020,276
Clearfield Inc.
385,400
Telephone & Data
Systems Inc.
3,065,247
Altice USA Inc.
Class A
6,570,329
Globalstar Inc.
21,677,414
Gogo Inc.
1,933,605
Shenandoah
Telecommunications
Co.
1,395,384
EchoStar Corp.
Class A
1,106,964
IDT Corp. Class B
640,184
ATN International Inc.
324,753
NETGEAR Inc.
802,059
WideOpenWest Inc. 1,564,532
Lightwave Logic Inc. 3,299,828
8x8 Inc.
3,289,503
Bel Fuse Inc. Class B
379,156
Anterix Inc.
369,725
fuboTV Inc.
6,082,840
Xperi Inc.
1,203,602
ComtechTelecommunications
Corp.
846,569
United States
Cellular Corp.
461,155
Aviat Networks Inc.
301,106
Ooma Inc.
671,112ASTSpaceMobile Inc.
Class A
1,767,881

MarketValue($000)*

164,208
151,019
126,151
116,197*

106,313*

102,557***

74,950*,172,752
72,49869,441
44,280***,1*

44,06841,690**,1

40,67938,233**,1*

38,15537,29136,282**,1

32,154*30,224
28,831
28,540*,1*

22,159*,1

18,464
18,034
14,715
14,525
14,253
14,222
14,211
12,482
11,894
10,584
10,363

*
*
*

*
*,1,2

*,1

DZS Inc.
Consolidated
Communications
Holdings Inc.
Cambium Networks
Corp.
RibbonCommunications
Inc.
KVH Industries Inc.
CalAmp Corp.
Akoustis
Technologies Inc.
Lantronix Inc.
Spok Holdings Inc.
Genasys Inc.
Kaltura Inc.
ChargeEnterprises Inc.
Casa Systems Inc.
Inseego Corp.
Powerfleet Inc.
SurgePays Inc.
PCTEL Inc.
Airgain Inc.
AppliedOptoelectronics Inc.
Network-1
Technologies Inc.
Franklin WirelessCorp.
Airspan Networks
Holdings Inc.
TESSCOTechnologies Inc.
Crexendo Inc.
Vislink
Technologies Inc.
Optical Cable Corp.
ClearOne Inc.
ADDvantage
Technologies
Group Inc.
Minim Inc.
FTE Networks Inc.
Bel Fuse Inc. Class A
ComSovereign
Holding Corp.

SharesMarketValue($000)

641,7478,137

2,207,355

7,902

347,319

7,526

2,258,211
523,973
1,083,412

6,300
5,355
4,854

1,659,890
1,043,968
517,8111,014,600
2,119,548

4,681
4,510
4,241
3,754
3,646

2,488,228
957,382
3,041,116
952,316
345,312471,713309,957

3,085
2,614
2,562
2,562
2,265
2,028
2,018

828,961

1,567

570,833

1,256

243,722

1,087

614,890806

138,125
345,906

666
657

1,119,195
92,325
230,450

627
384
350

96,416
701,390
84,180
3,626

140
137
126
121

1,145,207

82
27,553,763

10,277
9,615
9,392
9,141

Utilities (3.4%)
NextEra Energy Inc. 60,435,187
Duke Energy Corp. 23,412,482
Southern Co.
33,106,568
WasteManagement Inc. 12,478,073
Dominion Energy Inc. 25,347,149

8,521－ 73 －

5,052,382
2,411,252
2,364,140
1,957,560
1,554,287

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*
*

*

American ElectricPower Co. Inc.
15,626,852
Sempra Energy
9,560,971
Exelon Corp.
30,160,292
Xcel Energy Inc.
16,642,045
Waste
Connections Inc.
7,822,938
PG&E Corp.
63,707,628
Consolidated
Edison Inc.
10,795,591
Public Service
EnterpriseGroup Inc.
15,175,439
WEC Energy
Group Inc.
9,602,901
Eversource Energy 10,592,579
Constellation Energy
Corp.
9,933,893
American Water
Works Co. Inc.
5,525,567
Republic
Services Inc.
Class A
6,248,575
Edison International 11,619,107
Ameren Corp.
7,859,173
Entergy Corp.
6,184,424
FirstEnergy Corp.
16,515,664
PPL Corp.
21,255,386
DTE Energy Co.
5,004,197
AES Corp.
20,306,354
CenterPoint
Energy Inc.
19,111,005
CMS Energy Corp.
8,820,983
Atmos Energy Corp. 4,277,327
Evergy Inc.
6,974,290
Alliant Energy Corp.
7,629,292
Essential Utilities Inc. 7,181,559
NiSource Inc.
12,320,434
Vistra Corp.
12,113,266
Pinnacle West CapitalCorp.
3,428,826
OGE Energy Corp.
6,071,822
UGI Corp.
6,372,594
NRG Energy Inc.
6,996,145
Clean Harbors Inc.
1,558,741
National Fuel Gas Co. 2,776,317
IDACORP Inc.
1,539,427
Sunrun Inc.
6,141,032
Evoqua Water
Technologies Corp. 3,700,358
New Jersey
Resources Corp.
2,931,211
Stericycle Inc.
2,812,255
Hawaiian ElectricIndustries Inc.
3,342,412
Black Hills Corp.
1,982,721

MarketValue($000)
1,483,770
1,477,552
1,303,829
1,166,774
1,037,009
1,035,886*

1,028,928
929,799
900,368
888,082
856,401
842,207806,004
739,208
698,838
695,748
692,667
621,082
588,143584,011573,139558,633
479,360
438,892
421,213342,776
337,826
281,028
260,728
240,141
236,232
222,617
177,884
175,741
166,027
147,508
146,534

*

*

*

*,1

*,1
*,1

145,447
140,303
139,880
139,465*

Portland General
Electric Co.
South Jersey
Industries Inc.
PNM Resources Inc.
Ormat
Technologies Inc.
ONE Gas Inc.
Casella Waste
Systems Inc.
Class ASouthwest Gas
Holdings Inc.
ALLETE Inc.
Spire Inc.
American States
Water Co.
NorthWestern Corp.
Avangrid Inc.
California Water
Service Group
Avista Corp.
MGE Energy Inc.
Clearway Energy Inc.
Class CSJW Group
Chesapeake Utilities
Corp.
Sunnova Energy
International Inc.
Northwest Natural
Holding Co.
Middlesex Water Co.
Clearway Energy Inc.
Class A
Unitil Corp.
York Water Co.
Harsco Corp.
Excelerate
Energy Inc. Class A
Heritage-Crystal
Clean Inc.
Artesian Resources
Corp. Class A
NuScale Power Corp.
Aris Water
Solution Inc.
Class A
Vertex Energy Inc.
Altus Power Inc.
Class ARGC Resources Inc.
Genie Energy Ltd.
Class B
Pure Cycle Corp.
Global Water
Resources Inc.

－ 74 －

SharesMarketValue($000)

2,707,023

132,6443,710,507
2,599,819

131,834
126,845

1,453,270
1,646,361

125,679
124,662

1,542,658

122,348

1,931,270
1,731,008
1,521,349

119,507
111,667
104,760

1,131,515
1,759,477
2,375,146

104,722
104,407
102,084

1,663,549
2,246,550
1,122,106

100,878
99,612
78,9962,306,682
845,979

73,514
68,685

520,461

61,5082,974,743

53,575

1,065,570
543,787

50,71042,7801,249,501
502,176
433,004
2,563,153

37,38525,792
19,476
16,122

635,447

15,918487,171

15,823248,665
1,294,240

14,567
13,279797,758
1,808,451

11,496
11,212

1,153,700
297,109

7,522
6,551

626,553599,533

6,479
6,283

429,9615,710

バンガード®・トータル・ストック・マーケットETF

Shares
*

*,1
*,1

*

*

*
*,1

Quest Resource
Holding Corp.
558,617
Cadiz Inc.
819,649
Aqua Metals Inc.
1,524,663
Via Renewables Inc.
Class A
344,223
Perma-Fix
Environmental
Services Inc.
325,244
Advanced Emissions
Solutions Inc.
440,948
Charah Solutions Inc.
43,176Stronghold Digital
Mining Inc. Class A
398,400

MarketValue($000)
3,413
2,049
1,906
1,759
1,148
1,071
233
191
39,754,103

Total Common Stocks(Cost $643,671,180)

1,144,316,873

Preferred Stock (0.0%)
Air T Funding Pfd.,
8.000%, 6/7/24(Cost $36)

1,727

36

Temporary Cash Investments (0.9%)
Money Market Fund (0.9%)
3,4Vanguard Market
Liquidity Fund,
4.334%(Cost $10,586,135) 105,898,486
Total Investments (100.2%)(Cost $654,257,351)
Other Assets andLiabilities—Net (-0.2%)
Net Assets (100%)

10,588,790
1,154,905,699(1,979,216)
1,152,926,483

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 $2,776,937,000.
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. Rateshown is the 7-day yield.
4 Collateral of $3,130,152,000 was received for securities on loan.
CVR—Contingent Value Rights.
REIT—Real Estate Investment Trust.

－ 75 －