■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／資産複合
無期限(2019年11月5日設定)
楽天 米国レバレッジ・バランス・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、主に上場投資信託証券、株価指数先物取引にかかる権利および国債先物取引にかかる権利に投資することで、実質的に米国の株式および債券に投資し、投資信託財産の成長を目指します。
マザーファンドの運用にあたって、原則として、米国の株式および債券の実質的な組入比率は、米国の株式90％程度、米国の債券270％程度とすることを基本とします。
楽天・米国レバレッジ マザーファンド受益証券
を主要投資対象としま
バランス・ファンド す。
米国の株価指数に連動する上場投資信託証券および米国の株価指数先物取
引ならびに国債先物取引
マザーファンド の活用を通じて、実質的に米国の株式および債券を主要投資対象とします。
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
楽天・米国レバレッジ 託財産の純資産総額の5％バランス・ファンド 以下とします。
外貨建資産への直接投資は行いません。
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。
マザーファンド 外貨建資産への投資割合には制限を設けません。
株式への直接投資は行いません。
デリバティブの利用はヘッ
ジ目的に限定しません。
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・米国レバレッジバランス・ファンド＜愛称：USA360＞
第3期
決算日：2022年8月25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 －設定以来の運用実績
基
決

算

期

(設 定 日)2019年11月 5日
1期(2020年 8月25日)
2期(2021年 8月25日)
3期(2022年 8月25日)(分 配 落)円
10,00012,92916,534
13,829

準 価 額
投資信託
株式先物 債券先物
券 純資産総額税
込
期
中 組入比率 組入比率 証
組入比率
分 配 金
騰 落 率
円
％
％
％
％
百万円
－
－
－
－
－
206
0
29.3
15.1
269.6
75.7
5,529
0
27.9
6.1
268.3
84.5
15,031
0
△16.4
6.6
271.0
85.8
13,759(注1) 基準価額の騰落率は分配金込み。
(注2) 株式先物組入比率および債券先物組入比率＝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｣、｢債券先物組入比率｣、｢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。
(注4) 当ファンドの運用方針に対応する適切な指数が存在しないため、ベンチマークおよび参考指数を設定しておりません。
(注5) 設定日の基準価額には当初設定価額を、純資産総額には当初設定元本を用いています。

当期中の基準価額の推移
年

月

日

(期
首)
2021年 8月25日
8月末
9月末
10月末
11月末
12月末
2022年 1月末
2月末
3月末
4月末
5月末
6月末
7月末
（期
末）
2022年 8月25日

基

準

価

額
騰 落 率

円
16,534
16,743
15,937
16,658
16,835
17,262
15,323
14,75915,144
13,886
13,907
12,921
14,383

％
－
1.3
△3.6
0.7
1.8
4.4
△7.3
△10.7
△8.4
△16.0
△15.9
△21.9
△13.0

株 式 先 物組 入 比 率
％
6.1
6.0
5.1
5.2
5.1
4.9
5.4
5.7
6.0
6.3
6.2
6.6
6.1

13,829△16.4

6.6

債 券 先 物組 入 比 率
％
268.3
267.2
270.2
266.6
268.2
267.9
261.3
260.7
261.7
270.2
259.3
267.3
260.1

投資信託証券組 入 比 率
％
84.5
84.0
85.1
85.6
84.7
85.3
83.6
85.0
83.6
83.6
84.4
82.6
82.1

271.0

85.8

(注1) 期末基準価額は分配金込み、騰落率は期首比。
(注2) 株式先物組入比率および債券先物組入比率＝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｣、｢債券先物組入比率｣、｢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) 分配金再投資基準価額は、期首の基準価額を起点として指数化しています。

－ 2 －■基準価額の主な変動要因
当ファンドは、主要投資対象である｢楽天 米国レバレッジ・バランス・マザーファンド｣受益証券(｢マザーファンド｣)を通じて実質的に投資している米国株式ETF、米国株式先物、ならびに米国国債先物の価格変動の影
響を受けます。また、マザーファンドが保有する米ドル資産に対して米ドル／円相場の変動の影響を受けます。
当期の基準価額は下落しました。米国国債先物がまとまって下落したほか、投資している米国株式ETFと米国
株式先物も下落し、基準価額を押し下げました。一方で、米ドルが対円で大きく上昇し、為替要因はプラス寄与となりました。

※ETFの寄与度には、税引前配当金を含みます。
※その他要因には、費用等を含みます。
※上記要因分析は、楽天・米国レバレッジバランス・ファンドの基準価額への反映を考慮した期間により算出しています。
上記｢基準価額(マザーファンド)の要因分析｣は、基準価額の変動要因の傾向をご理解いただくために楽天投信
投資顧問が算出した概算値であり、実際の変動要因を正確に説明するものではありません。

－ 3 －■投資環境
当期の米国株式市場は、前期末比でまとまった下落となりました。2021年中は、FRB(米連邦準備制度理事会)による金融政策正常化に対する警戒感、インフレ圧力の高まり、新型コロナウイル
ス・オミクロン変異株の感染拡大やそれに伴う世界的な行動制限の再開への懸念などから調整する場面があったものの、米国経済が力強い回復を続けていたことや、多くの企業が事前予想を上回る良好な決算を発表したことなどを背景に、米国株式市場は底堅
さ を 保 ち ま し た 。 し か し 、 2022 年 に 入 る と 、 長 引 く サ プ ラ イ
チェーン(供給網)の混乱やロシアによるウクライナ侵攻、資源価格の上昇などを背景にインフレへの警戒感が一段と強まるなか、
FRBが継続的に金融引き締めを実施し、景気減速懸念が高まったことから、米国株式市場は6月中旬頃まで軟調な推移となりました。
その後、FRBの金融引き締めペースが鈍化するとの観測から長期金利が低下したほか、4-6月期の企業決算が懸念されたほど悪くなかったことなどを背景に米国株式市場は下げ幅を縮小する展開となりましたが、前期末比ではまとまって下落した水準で期末を迎えました。セクター別では、金利上昇が嫌気され、成長性の高い
テクノロジー関連セクターへの調整圧力が目立った一方、原油価格の上昇を受けてエネルギー・セクターが大きく上昇しました。
当期の米国国債市場では、幅広い年限で利回りが上昇(債券価格は下落)しました。新型コロナウイルスの感染拡大に伴う行動規制が徐々に緩和され、経済活動の正常化が進展したことに伴う世界的な需要回復に加え、中国・上海でのロックダウン(都市封鎖)などに伴うサプライチェーン(供給網)の混乱、ロシアによるウクラ
イナ侵攻の長期化、原油などの資源価格の上昇などを背景にインフレ圧力が高まるなか、FRBが継続的に政策金利を引き上げたことが主因です。また、政策金利引き上げの影響をより受けやすい短期金利の上昇幅が長期金利の上昇幅を上回ったため、長短金利差は縮小し、期末付近では、2年債利回りが10年債利回りを上回る逆
イールドの状態が継続しました。
当期の米ドル／円相場では、大幅な米ドル高／円安が進行しました。期初から2022年3月上旬にかけては緩やかな米ドル高／円安
基調が継続しましたが、その後は、米国におけるインフレ圧力の高まりと、それを受けたFRBによる継続的な利上げや米長期金利の上昇を背景に、日米の金融政策の方向性の違いや金利差拡大を意識した米ドル買い／円売りが加速し、前期末比で大幅な米ドル高／円安となりました。

－ 4 －※ファンドの基準価額への反映を考慮し、作成期間を1
営業日前にずらして作成しております。

■当ファンドのポートフォリオ
当ファンドは、マザーファンドを主要投資対象とし、実質的な運用はマザーファンドで行っています。
マザーファンドは先物取引を活用して、実質的にファンドの純資産総額の360％(3.6倍)相当額を米国株式と米国債券に分散投資する運用を行います。運用にあたっては、純資産総額の90％程度を米国株式に配分するとともに、先物取引を活用することで、純資産総額の270％程度を米国債券へ投資する運用を行います。
米国株式への投資は主に代表的な株価指数に連動する上場投資信託証券(ETF)を通じて行うとともに、株価指数先物取引を活用しています。
また、米国債券への投資は米国国債先物取引を活用します。外貨建て資産については、原則として為替ヘッジは行いません。
当期は、概ね目標配分(米国株式90％、米国国債先物270％)に沿った組み入れを維持しました。
■当ファンドのベンチマークとの差異
当ファンドは運用の目標となるベンチマークおよび参考指数を設けておりません。
■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3期
2021年8月26日～2022年8月25日
－
(－)
－
－
3,828

(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、目標配分(米国株式90％、米国国債先物270％)に沿った組入比率を高位に維持していく方針です。

－ 5 －1万口当たりの費用明細
当期項目

2021年8月26日～2022年8月25日
金額(a) 信託報酬

項 目 の 概 要

比率72円

(投信会社)(34)

0.467％ (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15,313円です。
(0.220) ・委託した資金の運用の対価(販売会社)(34)(0.220)(受託会社)(4)(0.027)(b) 売買委託手数料

21

0.138

(投資信託証券)(2)(0.014)(先物・オプション)(19)(0.124)(c) 有価証券取引税

0

0.001

(投資信託証券)(0)(0.001)(d) その他費用

19

0.125

(保管費用)(2)(0.015)(監査費用)(1)(0.005)(印刷費用)(2)(0.014)

(その他)

(14)

(0.091)

112

0.731

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。

－ 6 －－ 7 －

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 米国レバレッジ・バランス・マザーファンド

設
口
数
千口
2,471,792

期

定
金

額
千円
3,927,132

解数
千口
1,682,886

約
金

当
期
数
千口
9,789,955

末
評 価

口

額
千円
2,583,014(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 米国レバレッジ・バランス・マザーファンド

期

末
数
千口
9,001,049

口額
千円
13,753,908(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、9,789,955千口です。

投資信託財産の構成
項

当

目

評 価 額

楽天 米国レバレッジ・バランス・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
13,753,908
185,998
13,939,906

期

末
比

率
％
98.7
1.3
100.0

(注1) 評価額の単位未満は切捨て。
(注2) 楽天 米国レバレッジ・バランス・マザーファンドにおいて、当期末における外貨建資産(13,671,942千円)の投資信託財産総額(13,967,130千円)に対する比率は、97.9％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＝136.98円です。

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

(2022年8月25日現在)
項

目

当 期 末

(Ａ) 資

産

13,939,906,313円

コ ー ル ・ ロ ー ン 等

95,964,506

楽天 米国レバレッジ・バランス・マ ザ ー フ ァ ン ド ( 評 価 額 )13,753,908,807

未

収

入

金

90,033,000

債

180,832,245

約

金

139,617,198

報酬

31,870,835

(Ｂ) 負
未

払

未

払

未

解
信

託

払

利

息

262

そ の 他 未 払 費 用

9,343,950(Ｃ) 純 資 産 総 額(Ａ－Ｂ)

13,759,074,068

元

本

9,949,611,621

次 期 繰 越 損 益 金

3,809,462,447

(Ｄ) 受

数

9,949,611,621口

1万口当たり基準価額(Ｃ／Ｄ)

益

権

総

口

13,829円(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）

9,091,640,722円
6,901,782,496円
6,043,811,597円(自2021年8月26日 至2022年8月25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
繰
越
損
益
金

当

期
△80,954円△80,954△2,024,117,056
651,687,935△2,675,804,991△86,013,910△2,110,211,920
1,157,652,834
4,762,021,533(2,526,557,799)(2,235,463,734)
3,809,462,447
03,809,462,447
4,762,021,533(2,536,982,109)(2,225,039,424)
1,231,544,709△2,184,103,795(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
73,891,875円－円
2,577,917,738円
1,157,652,834円
3,809,462,447円
9,949,611,621口
3,828.74円
－円
－円

お知らせ
該当事項はありません。
－ 9 －

楽天

米国レバレッジ・バランス・マザーファンド
第3期(2022年8月25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(2019年11月5日設定)

運

用

方

針

投資信託財産の成長を目指して運用を行います。

主 な 投 資 対 象

米国の株価指数に連動する上場投資信託証券および米国の株価指数先物取引ならびに国債
先物取引の活用を通じて、実質的に米国の株式および債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。
株式への直接投資は行いません。
デリバティブの利用はヘッジ目的に限定しません。

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/－ 10 －

設定以来の運用実績
基
決

算

準

期

(設 定 日)2019年11月 5日
1期(2020年 8月25日)
2期(2021年 8月25日)
3期(2022年 8月25日)

円
10,00012,985
16,70014,049

価 額
期
中
騰 落 率
％
－
29.9
28.6
△15.9

株式先物
組入比率

債券先物
組入比率

％
－
15.1
6.1
6.6

％
－
269.6
268.3
271.1

投資信託
証
券
組入比率
％
－
75.7
84.5
85.8

純資産総額
百万円
206
5,528
15,031
13,754(注1) 株式先物組入比率および債券先物組入比率＝買建比率－売建比率(注2) 当ファンドの運用方針に対応する適切な指数が存在しないため、ベンチマークおよび参考指数を設定しておりません。
(注3) 設定日の基準価額には当初設定価額を、純資産総額には当初設定元本を用いています。

当期中の基準価額の推移
年

月

日

(期
首)
2021年 8月25日
8月末
9月末
10月末
11月末
12月末
2022年 1月末
2月末
3月末
4月末
5月末
6月末
7月末
（期
末）
2022年 8月25日

基

準

価

額
騰 落 率

円
16,70016,913
16,106
16,842
17,03017,46915,515
14,95015,34814,07914,10913,115
14,606

％
－
1.3
△3.6
0.9
2.0
4.6
△7.1
△10.5
△8.1
△15.7
△15.5
△21.5
△12.5

株 式 先 物組 入 比 率
％
6.1
6.0
5.1
5.2
5.1
4.9
5.4
5.7
6.0
6.3
6.2
6.6
6.1

14,049△15.9

6.6(注1) 騰落率は期首比。
(注2) 株式先物組入比率および債券先物組入比率＝買建比率－売建比率－ 11 －

債 券 先 物組 入 比 率
％
268.3
267.2
270.2
266.6
268.2
267.9
261.3
260.7
261.7
270.2
259.3
267.3
260.1

投資信託証券組 入 比 率
％
84.5
84.0
85.1
85.6
84.7
85.3
83.6
85.0
83.6
83.6
84.4
82.6
82.1

271.1

85.8

当期中の運用経過と今後の運用方針■基準価額の推移■基準価額の主な変動要因
当ファンドは、投資している米国株式ETF、米国株式先物、ならびに米国国債先物の価格変動の影響を受けます。また、保有する米ドル資産に対して米ドル／円相場の変動の影響を受けます。
当期の基準価額は下落しました。米国国債先物がまとまって下落したほか、投資している米国株式ETFと米国
株式先物も下落し、基準価額を押し下げました。一方で、米ドルが対円で大きく上昇し、為替要因はプラス寄与となりました。

※ETFの寄与度には、税引前配当金を含みます。
※その他要因には、費用等を含みます。
※上記要因分析は、楽天 米国レバレッジ・バランス・マザーファンドの基準価額への反映を考慮した期間により算出しています。
上記｢基準価額の要因分析｣は、基準価額の変動要因の傾向をご理解いただくために楽天投信投資顧問が算出した概算値であり、実際の変動要因を正確に説明するものではありません。

－ 12 －

■投資環境
当期の米国株式市場は、前期末比でまとまった下落となりました。2021年中は、FRB(米連邦準備制度理事会)による金融政策正常化に対する警戒感、インフレ圧力の高まり、新型コロナウ
イルス・オミクロン変異株の感染拡大やそれに伴う世界的な行
動制限の再開への懸念などから調整する場面があったものの、米国経済が力強い回復を続けていたことや、多くの企業が事前予想を上回る良好な決算を発表したことなどを背景に、米国株式市場は底堅さを保ちました。しかし、2022年に入ると、長引
くサプライチェーン(供給網)の混乱やロシアによるウクライナ
侵攻、資源価格の上昇などを背景にインフレへの警戒感が一段と強まるなか、FRBが継続的に金融引き締めを実施し、景気減速
懸念が高まったことから、米国株式市場は6月中旬頃まで軟調な推移となりました。その後、FRBの金融引き締めペースが鈍化するとの観測から長期金利が低下したほか、4-6月期の企業決算が懸念されたほど悪くなかったことなどを背景に米国株式市場は下げ幅を縮小する展開となりましたが、前期末比ではまとまって下落した水準で期末を迎えました。セクター別では、金利上昇が嫌気され、成長性の高いテクノロジー関連セクターへの調整圧力が目立った一方、原油価格の上昇を受けてエネルギー・
セクターが大きく上昇しました。
当期の米国国債市場では、幅広い年限で利回りが上昇(債券価格は下落)しました。新型コロナウイルスの感染拡大に伴う行動規制が徐々に緩和され、経済活動の正常化が進展したことに伴う世界的な需要回復に加え、中国・上海でのロックダウン(都市封鎖)などに伴うサプライチェーン(供給網)の混乱、ロシアによるウクライナ侵攻の長期化、原油などの資源価格の上昇などを背景にインフレ圧力が高まるなか、FRBが継続的に政策金利を引き上げたことが主因です。また、政策金利引き上げの影響をより受けやすい短期金利の上昇幅が長期金利の上昇幅を上回った
ため、長短金利差は縮小し、期末付近では、2年債利回りが10年債利回りを上回る逆イールドの状態が継続しました。
当期の米ドル／円相場では、大幅な米ドル高／円安が進行しました。期初から2022年3月上旬にかけては緩やかな米ドル高／
円安基調が継続しましたが、その後は、米国におけるインフレ
圧力の高まりと、それを受けたFRBによる継続的な利上げや米長期金利の上昇を背景に、日米の金融政策の方向性の違いや金利差拡大を意識した米ドル買い／円売りが加速し、前期末比で大幅な米ドル高／円安となりました。

－ 13 －※ファンドの基準価額への反映を考慮し、作成期間
を1営業日前にずらして作成しております。

■当ファンドのポートフォリオ
当ファンドは先物取引を活用して、実質的にファンドの純資産総額の360％(3.6倍)相当額を米国株式と米国債券に分散投資する運用を行います。運用にあたっては、純資産総額の90％程度を米国株式に配分するとともに、先物取引を活用することで、純資産総額の270％程度を米国債券へ投資する運用を行います。
米国株式への投資は主に代表的な株価指数に連動する上場投資信託証券(ETF)を通じて行うとともに、株価指数先物取引を活用しています。
また、米国債券への投資は米国国債先物取引を活用します。外貨建て資産については、原則として為替ヘッジは行いません。
当期は、概ね目標配分(米国株式90％、米国国債先物270％)に沿った組み入れを維持しました。
■当ファンドのベンチマークとの差異
当ファンドは運用の目標となるベンチマークおよび参考指数を設けておりません。
■今後の運用方針
引き続き目標配分(米国株式90％、米国国債先物270％)に沿った組入比率を高位に維持していく方針です。

－ 14 －

1万口当たりの費用明細
当期金額比率(a)売買委託手数料
21円
0.138％(投資信託証券)(2)(0.014)(先物・オプション)(19)(0.124)(b)有価証券取引税
00.001(投資信託証券)(0)(0.001)(c)その他費用
20.015(保管費用)(2)(0.015)(その他)(0)(0.000)合計
23
0.154
期中の平均基準価額は15,506円です。
項目(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6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
当外国アメリカ バンガードⓇ・トータル・ストック・マーケットETF
小計

買
単位数又は口数
千口
242
242

期

付
金

売
単位数又は口数
千口
327
327

額
千米ドル
52,41352,413付
金額
千米ドル
71,546
71,546(注1) 金額は受渡し代金。
(注2) 単位未満は切捨て。

派生商品の取引状況等■先物取引の銘柄別取引・残高状況
銘
外

柄

別

国
株式先物取引
S&P 500 EMIN
債券先物取引US 5YR NOTE
US 10YR NOTE

百万円

期
売
新 規
売付額
百万円

3,459

3,588

－

－

907

－

52

110,142
109,755

113,950
113,057－－－－

18,65918,629

－
－

△49
△75

買
新 規
買付額
百万円

当
建
決済額

(注) 単位未満は切捨て。

－ 15 －

当期末評価額

建
決済額

買建額

売建額

評価損益

百万円

百万円

百万円

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

500

414

86,14911,800,796

500
1

414
1

86,149－11,800,796<85.8％>

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
債券先物取引US 5YR NOTE
US 10YR NOTE

売 建 額
百万円

百万円

907

－

18,65918,629－－(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
11,800,796
2,166,334
13,967,130

期

末
比

率
％
84.5
15.5
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(13,671,942千円)の投資信託財産総額(13,967,130千円)に対する比率は、97.9％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＝136.98円です。

－ 16 －

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(2022年8月25日現在)
項

目

当 期 末

(Ａ) 資

産

項

13,914,360,719円

コ ー ル ・ ロ ー ン 等

813,818,006

投資信託受益証券(評価額)11,800,796,590

差 入 委 託 証 拠 金

1,299,746,123

(Ｂ) 負

債

未

払

未

払

未

解

払

約
利

元

総

口

受

取

受

目
収

等
配

当
収

払

利

金

180,655,022
53,533
1,981,057

息△568,625(Ｂ) 有 価 証 券 売 買 損 益

2,490,575,446

支他

期
182,120,987円

金

の

利

当

息

そ

取

益

益

買

益

3,969,448,152

金70,152,904

売

買

損

△1,478,872,706

金

90,033,000(Ｃ) 先 物 取 引 等 取 引 損 益△5,291,996,133

息471

次 期 繰 越 損 益 金
権

当

売

本

益

(Ａ) 配

160,186,375(Ｃ) 純 資 産 総 額(Ａ－Ｂ)(Ｄ) 受(自2021年8月26日 至2022年8月25日)

取

引

取
(Ｄ) そ

13,754,174,344
9,789,955,732
3,964,218,612

数

9,789,955,732口

1万口当たり基準価額(Ｃ／Ｄ)

14,049円(注1) 期首元本額
9,001,049,901円
期中追加設定元本額
2,471,792,568円
期中一部解約元本額
1,682,886,737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・米国レバレッジバランス・ファンド 9,789,955,732円

引
の

他

費

益

117,929,164

損△5,409,925,297

用△2,227,848(Ｅ) 当期損益金(Ａ＋Ｂ＋Ｃ＋Ｄ)△2,621,527,548(Ｆ) 前 期 繰 越 損 益 金6,030,533,991(Ｇ) 追 加 信 託 差 損 益 金

1,455,339,432

(Ｈ) 解

約

金

△900,127,263(Ｉ)

計 （Ｅ＋Ｆ＋Ｇ＋Ｈ)

差

損

益

3,964,218,612

次 期 繰 越 損 益 金(Ｉ)3,964,218,612(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。

－ 17 －

■組入ファンドの概要
以下は、『楽天 米国レバレッジ・バランス・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

2021年12月31日Ⓡ－ 18 －

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
実質的な主要投資対象
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
全米の株式
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％－ 19 －

バンガード®・トータル・ストック・マーケットETF■損益計算書（2021年12月31日に終了する計算期間）Year Ended
December 31, 2021($000)

Investment Income
Income16,541,541

Dividends—Unaffiliated Issuers1
Dividends—Affiliated Issuers—

Interest—Unaffiliated Issuers

54Interest—Affiliated Issuers

4,107

Securities Lending—Net

154,799

Total Income

16,700,501

Expenses
The Vanguard Group
Investment Advisory Services

19,467

Management and Administrative—Investor Shares

191,795

Management and Administrative—ETF Shares

60,934

Management and Administrative—Admiral Shares

109,061

Management and Administrative—Institutional Shares

55,582

Management and Administrative—Institutional Plus Shares

45,193

Management and Administrative—Institutional Select Shares

3,969

Marketing and Distribution—Investor Shares

7,150

Marketing and Distribution—ETF Shares

7,604

Marketing and Distribution—Admiral Shares

8,899

Marketing and Distribution—Institutional Shares

5,611

Marketing and Distribution—Institutional Plus Shares

3,061

Marketing and Distribution—Institutional Select Shares

1

Custodian Fees

2,032

Auditing Fees

399

Shareholders’ Reports—Investor Shares

1,013

Shareholders’ Reports—ETF Shares

2,476

Shareholders’ Reports—Admiral Shares

1,265

Shareholders’ Reports—Institutional Shares

1,151

Shareholders’ Reports—Institutional Plus Shares

83

Shareholders’ Reports—Institutional Select Shares—

Trustees’ Fees and Expenses

357

Interest Expense—

Total Expenses

527,103

Net Investment Income

16,173,398

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

144

Investment Securities Sold—Unaffiliated Issuers2

23,905,095

Investment Securities Sold—Affiliated Issuers

211－ 20 －

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, 2021($000)
Futures Contracts

1,472,639

Swap Contracts

27,042

Realized Net Gain (Loss)

25,405,131

Change in Unrealized Appreciation (Depreciation)
Investment Securities—Unaffiliated Issuers

238,465,157

Investment Securities—Affiliated Issuers

1,052

Futures Contracts(6,444)

Swap Contracts

36,234

Change in Unrealized Appreciation (Depreciation)

238,495,999

Net Increase (Decrease) in Net Assets Resulting from Operations

280,074,528

1 Dividends are net of foreign withholding taxes of $1,369,000.
2 Includes $21,208,071,000 of net gain (loss) resulting from in-kind redemptions.

－ 21 －

バンガード®・トータル・ストック・マーケットETF■組入銘柄

（2021年12月31日現在）

As of December 31, 2021
SharesMarketValue($000)

SharesCommon Stocks (99.6%)
Basic Materials (2.0%)
Linde plc
Air Products andChemicals Inc.
FreeportMcMoRan Inc.
Ecolab Inc.
Newmont Corp.
Dow Inc.
International Flavors& Fragrances Inc.
Fastenal Co.
Nucor Corp.
Albemarle Corp.
LyondellBasell
Industries NV
Class A
Celanese Corp.
International Paper
Co.
Avery Dennison
Corp.
Eastman Chemical
Co.
CF Industries
Holdings Inc.
Mosaic Co.
FMC Corp.
Steel Dynamics Inc.
Alcoa Corp.
Reliance Steel &Aluminum Co.
*
Cleveland-Cliffs Inc.
Olin Corp.
Royal Gold Inc.
Huntsman Corp.
Valvoline Inc.
Scotts Miracle-GroCo.
*
RBC Bearings Inc.
United States SteelCorp.

14,543,767

5,038,397

6,294,953

1,915,302

41,735,180
7,329,473
22,661,214
21,020,483

1,741,609
1,719,421
1,405,448
1,192,282

7,234,165
16,346,708
8,122,422
3,324,814

1,089,827
1,047,170
927,174
777,242

*

*

*,1
*

7,566,634
3,094,117

697,871
519,997

11,006,638

517,092

2,352,252

509,427

3,821,453

462,052

6,096,710
10,518,914
3,602,212
5,356,743
5,318,356

431,525
413,288395,847
332,493
316,868

1,779,532
12,790,692
4,077,809
1,863,823
5,575,458
5,117,124

288,676
278,453234,556
196,093
194,472
190,818

1,097,268
820,925

176,660
165,802

6,894,514

164,158*

1*

Ashland Global
Holdings Inc.
1,453,857
Chemours Co.
4,633,493
Balchem Corp.
920,794
UFP Industries Inc.
1,670,505
Avient Corp.
2,601,769
Element
Solutions Inc.
5,977,174
Univar Solutions Inc. 4,851,470
Timken Co.
1,941,655
Commercial Metals
Co.
3,461,159
Hexcel Corp.
2,387,039
Sensient
Technologies Corp. 1,195,304
MP Materials Corp.
2,526,129
Livent Corp.
4,581,285
MuellerIndustries Inc.
1,548,402
Cabot Corp.
1,614,227
Arconic Corp.
2,725,301
Westlake Chemical
Corp.
907,576
Quaker Chemical
Corp.
381,730
Ingevity Corp.
1,121,374
Hecla Mining Co.
15,338,342
Boise Cascade Co.
1,118,842
Tronox Holdings plc
Class A
3,281,029
NewMarket Corp.
226,927
Stepan Co.
605,635
MineralsTechnologies Inc.
948,157
GrafTechInternational Ltd.
5,613,712
Innospec Inc.
698,841
Materion Corp.
580,245Compass Minerals
International Inc.
967,246
Worthington
Industries Inc.
856,689－ 22 －

MarketValue($000)
156,522
155,500
155,246
153,703
145,569
145,126
137,539
134,537
125,605
123,649
119,602
114,737
111,692
91,91390,72089,962
88,15388,09680,40380,066
79,662
78,84377,77275,27469,35866,41063,13353,34849,407
46,827

バンガード®・トータル・ストック・マーケットETF

*

*

*,1
*
*,1
*

*,1

*

*

*

*

*

*

*
*,1

*

*
*
*

*,1
*
*
*

GCP Applied
Technologies Inc.
Kaiser Aluminum
Corp.
Kraton Corp.
Carpenter Technology
Corp.
Schnitzer Steel
Industries Inc.
Class A
AdvanSix Inc.
Energy Fuels Inc.
Coeur Mining Inc.
Amyris Inc.
Sylvamo Corp.
Schweitzer-Mauduit
International Inc.
Uranium Energy
Corp.
Century AluminumCo.
Glatfelter Corp.
Neenah Inc.
Hawkins Inc.
Resolute Forest
Products Inc.
Verso Corp. Class A
US Silica
Holdings Inc.
Koppers
Holdings Inc.
TimkenSteel Corp.
Ecovyst Inc.
Clearwater Paper
Corp.
Piedmont
Lithium Inc.
HaynesInternational Inc.
Gatos Silver Inc.
Origin Materials Inc.
American Vanguard
Corp.
Intrepid Potash Inc.
Ryerson Holding
Corp.
Omega Flex Inc.
Tredegar Corp.
Unifi Inc.
Alto Ingredients Inc.
Rayonier Advanced
Materials Inc.
Zymergen Inc.
LSB Industries Inc.
Northwest Pipe Co.
Ur-Energy Inc.
Olympic Steel Inc.

SharesMarketValue($000)

1,464,593

46,369453,321871,582

42,58540,372

1,371,752

40,041

698,597753,607
4,421,625
6,516,993
5,253,903
1,005,492

36,27135,60833,737
32,84628,42428,043

901,505

26,955*

7,359,096

24,653*

1,382,886
1,275,904
470,344532,230

22,901
21,946
21,76820,996*

1,349,536
740,740

20,60720,015*,1

1,992,459

18,729*,1

587,127
1,090,490
1,747,108

18,377
17,993
17,890*,1

473,105

17,349*326,173

17,111*

347,482
1,256,006
1,949,891

14,014
13,037
12,577*

749,948
283,137

12,292
12,098*434,515
88,289838,057
422,068
1,951,445

11,319
11,208
9,906
9,771
9,386

*

*,2

1,621,220
1,311,077
758,771
261,682
5,846,618
266,301

9,257
8,771
8,384
8,321
7,133
6,258

Consumer Discretionary (15.9%)*
Amazon.com Inc.
12,251,420*
Tesla Inc.
22,833,680
Home Depot Inc.
29,677,684*
Walt Disney Co.
51,659,466

*

*

*

*

*,1

*

*,1

*

*

*

FutureFuel Corp.
NN Inc.
Eastern Co.
Synalloy Corp.
Northern
Technologies
International Corp.
Gold Resource Corp.
Culp Inc.
Perma-Pipe
International
Holdings Inc.
Universal Stainless &Alloy Products Inc.
Westwater
Resources Inc.
Marrone Bio
Innovations Inc.
Comstock
Mining Inc.
US Gold Corp.
Ampco-Pittsburgh
Corp.
FriedmanIndustries Inc.
Golden Minerals Co.
PharmaCyte
Biotech Inc.
United States
Antimony Corp.
CPS Technologies
Corp.
AgroFresh
Solutions Inc.
ABVC BioPharma Inc.
United-Guardian Inc.
Paramount Gold
Nevada Corp.
Hycroft Mining
Holding Corp.
Flexible Solutions
International Inc.
Solitario Zinc Corp.
Chicago Rivet &Machine Co.
Orbsat Corp.
Hycroft Mining
Holding Corp.
Warrants Exp.
10/6/25
Partners LP CVR

SharesMarketValue($000)

739,753
1,112,705
163,141
237,258

5,652
4,562
4,105
3,898

243,564
2,125,660
277,660

3,727
3,316
2,641

263,560

2,267

278,493

2,197

989,9132,128

2,812,532

2,026

1,460,392
201,077

1,884
1,802

357,753

1,789

185,959
4,469,717

1,744
1,561

590,900

1,477

2,763,406

1,376

336,311

1,275

635,804
372,760
73,036

1,265
1,264
1,198

1,225,450

856

986,180602

151,258
638,028588
319

11,23850,264295
162

155,000
61,02118
427,259,710－ 23 －

40,850,400
24,130,176
12,316,536
8,001,535

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*
*

*

*

*

*

*

*
*
*

*

*
*

*

*

*

*

*

*

Netflix Inc.
12,588,931
Costco WholesaleCorp.
12,557,012
NIKE Inc. Class B
36,315,359
Walmart Inc.
39,624,211
McDonald's Corp.
21,236,707
Lowe's Cos. Inc.
19,148,036
Starbucks Corp.
33,341,115
Target Corp.
13,616,463
Booking
Holdings Inc.
1,166,961
TJX Cos. Inc.
32,467,240
Ford Motor Co.
111,552,791
Estee Lauder Cos.
Inc. Class A
6,256,258
General Motors Co.
37,137,412
UberTechnologies Inc.
41,355,353
Dollar General Corp. 6,629,763
Airbnb Inc. Class A
9,364,259
Activision
Blizzard Inc.
22,137,065
O'Reilly
Automotive Inc.
1,914,787
Chipotle Mexican
Grill Inc.
759,588
Lululemon
Athletica Inc.
3,364,407
MarriottInternational Inc.
Class A
7,866,848
Aptiv plc
7,688,486
AutoZone Inc.
595,953
Hilton Worldwide
Holdings Inc.
7,920,317
Yum! Brands Inc.
8,329,093
Ross Stores Inc.
10,099,477
Trade Desk Inc.
Class A
12,394,032
eBay Inc.
16,901,659
Electronic Arts Inc.
8,037,915
DR Horton Inc.
9,625,981
Copart Inc.
6,066,720
Dollar Tree Inc.
6,394,307
Lennar Corp. Class A 7,353,948
ROBLOX Corp.
Class A
8,245,691
Etsy Inc.
3,604,714
Tractor Supply Co.
3,234,491
Expedia Group Inc.
4,149,671
VF Corp.
10,046,410
Southwest Airlines
Co.
16,828,738
Delta Air Lines Inc. 18,200,263
Best Buy Co. Inc.
6,291,594
Ulta Beauty Inc.
1,544,958
Pool Corp.
1,081,785

MarketValue($000)
7,584,076
7,128,616
6,052,681
5,733,227
5,692,924
4,949,384
3,899,910
3,151,394
2,799,808
2,464,913
2,316,951

Shares
*

*

*
*

*
*

*,1

2,316,067
2,177,366
1,734,030
1,563,497
1,559,055
1,472,779
1,352,280**

1,327,950*

1,316,997**,1

1,299,918
1,268,216
1,249,350
1,235,490
1,156,578
1,154,168
1,135,789
1,123,960
1,060,201
1,043,938
919,836
898,528854,235
850,625
789,216
771,750
749,929735,598
720,943
711,266
639,226
637,048612,290

*

*
*,1

*

*
*

*

CarMax Inc.
4,607,433
Garmin Ltd.
4,370,417
Domino's Pizza Inc.
1,033,981
Take-Two Interactive
Software Inc.
3,277,010
Genuine Parts Co.
4,046,954
Carvana Co.
2,432,228
NVR Inc.
94,045DardenRestaurants Inc.
3,687,923
Burlington Stores Inc. 1,897,609
Caesars
Entertainment Inc. 5,770,573
RivianAutomotive Inc.
Class A
5,021,486
MGM Resorts
International
11,329,267
ViacomCBS Inc.
Class B
16,698,902
Bath & Body
Works Inc.
7,134,103
Live Nation
Entertainment Inc.
4,151,132
Carnival Corp.
23,707,539
Royal Caribbean
Cruises Ltd.
6,153,089
Las Vegas Sands
Corp.
11,947,168
Lucid Group Inc.
11,698,786
Omnicom Group Inc. 6,042,274
Advance Auto
Parts Inc.
1,772,234
LKQ Corp.
7,041,683
Interpublic Group of
Cos. Inc.
11,193,299
Whirlpool Corp.
1,726,218
United Airlines
Holdings Inc.
9,196,987
Wayfair Inc. Class A
2,105,495
AMC Entertainment
Holdings Inc.
Class A
14,599,205
PulteGroup Inc.
6,835,665
Hasbro Inc.
3,724,421
Vail Resorts Inc.
1,149,367
Floor & Decor
Holdings Inc.
Class A
2,850,891
WilliamsSonoma Inc.
2,084,255
Lyft Inc. Class A
8,025,249
Liberty Media
Corp.-Liberty
Formula One
Class C5,278,105
American Airlines
Group Inc.
18,418,499－ 24 －

MarketValue($000)
600,026
595,120583,507582,390567,383
563,766
555,700
555,549
553,172
539,722520,678
508,458
503,973
497,889
496,849
476,996473,173449,691
445,139442,717425,124
422,712419,189
405,074402,644399,981
397,098
390,727
379,072
376,877
370,644352,510
342,919

333,787
330,796

バンガード®・トータル・ストック・マーケットETF

*

*

*

*

*
*

*,1

*

*
*

*

*

*

*

*

*

*

Five Below Inc.
Fox Corp. Class A
Tapestry Inc.
Service Corp.
International
Lear Corp.
SiteOne LandscapeSupply Inc.
BorgWarner Inc.
News Corp. Class A
PelotonInteractive Inc.
Class A
Deckers Outdoor
Corp.
Capri Holdings Ltd.
BJ's Wholesale Club
Holdings Inc.
GameStop Corp.
Class A
Aramark
RH
Tempur Sealy
International Inc.
Lithia Motors Inc.
Class A
Wynn Resorts Ltd.
Penn National
Gaming Inc.
DraftKings Inc.
Class A
Toll Brothers Inc.
Newell Brands Inc.
Wyndham Hotels &Resorts Inc.
Churchill Downs Inc.
Gentex Corp.
Liberty Media
Corp.-Liberty
SiriusXM Class C
Macy's Inc.
Norwegian CruiseLine Holdings Ltd.
New York Times Co.
Class A
Avis Budget
Group Inc.
Bright Horizons
FamilySolutions Inc.
PVH Corp.
Rollins Inc.
Planet Fitness Inc.
Class A
Mattel Inc.
Kohl's Corp.
Nielsen Holdings plc

SharesMarketValue($000)

1,592,336
8,902,445
7,820,060

329,438
328,500
317,494

Shares***4,452,632
1,694,167

316,092
309,948

1,269,760
6,815,140
13,395,796

307,637
307,158
298,860

*

*
*
*
1

8,049,408

287,847

780,138
4,276,731

285,772
277,603*

4,132,121

276,728*

1,847,892
7,285,002
486,895

274,209268,452
260,9475,471,848

257,341**

860,018
2,961,649

255,382
251,859

4,817,607

249,793*8,664,446
3,286,801
10,881,720

238,012
237,932
237,657*

2,647,348
977,823
6,721,348

237,335
235,558
234,2394,512,478
8,508,465

229,460
222,752

10,522,514

218,237

4,507,055

217,691*,1

1,043,053

216,298*

1,716,298
2,019,663
6,292,967

216,048
215,397
215,2822,368,268
9,948,071
4,279,059
10,201,161

214,518
214,480
211,343
209,226

*
1

*

*

*

*

Discovery Inc.
Class C8,906,501
Crocs Inc.
1,589,037
Fox Factory Holding
Corp.
1,196,099
YETI Holdings Inc.
2,368,395
Marriott Vacations
Worldwide Corp.
1,149,662
IAA Inc.
3,832,553
Zynga Inc. Class A
30,250,143
Alaska Air Group Inc. 3,553,511
Dick's Sporting
Goods Inc.
1,609,549
AMERCO
250,834
Polaris Inc.
1,641,370
Scientific GamesCorp.
2,609,174
Goodyear Tire &Rubber Co.
8,001,994
Texas Roadhouse Inc.
Class A
1,880,020
Helen of Troy Ltd.
686,296
Nexstar MediaGroup Inc. Class A
1,104,407
Skechers USA Inc.
Class A
3,840,130
Hanesbrands Inc.
9,924,240
Harley-Davidson Inc. 4,374,990
AutoNation Inc.
1,397,353
Choice Hotels
International Inc.
1,027,450
Terminix Global
Holdings Inc.
3,445,483
Thor Industries Inc.
1,497,400
Fox Corp. Class B
4,478,348
Ralph Lauren Corp.
1,247,798
Leggett & Platt Inc.
3,602,339
Wingstop Inc.
849,325
Boyd Gaming Corp.
2,234,229
Sirius XM
Holdings Inc.
22,738,623
Endeavor Group
Holdings Inc.
Class A4,128,800
Chewy Inc. Class A
2,423,239
Gap Inc.
7,996,106Victoria's Secret &Co.
2,511,791
Murphy USA Inc.
692,371
Travel + Leisure Co.
2,454,604
Hilton Grand
Vacations Inc.
2,554,794
Hyatt Hotels Corp.
Class A
1,358,919
Meritage Homes
Corp.
1,060,833
Foot Locker Inc.
2,954,785－ 25 －

MarketValue($000)
203,959
203,746
203,456
196,174
194,270
194,004
193,601
185,138
185,082
182,163
180,403
174,371
170,603167,848
167,779
166,743
166,662
165,933
164,893
163,281
160,272
155,839
155,385
153,473
148,313148,272
146,763
146,498
144,390
144,054
142,898
141,131
139,505
137,948
135,666
133,130
130,320
129,485
128,917

バンガード®・トータル・ストック・マーケットETF

*

*,1

*

*

*

*

*

*

*

1

*
*,1

*

*
*

*,1

*
*

*

*
*

*

JetBlue Airways
Corp.
Signet Jewelers Ltd.
Papa John'sInternational Inc.
QuantumScape Corp.
Class A
Skyline Champion
Corp.
Warner Music Group
Corp. Class A
Chegg Inc.
Wendy's Co.
H&R Block Inc.
Academy Sports &Outdoors Inc.
TEGNA Inc.
Taylor Morrison
Home Corp. Class A
Carter's Inc.
National Vision
Holdings Inc.
Asbury Automotive
Group Inc.
Under Armour Inc.
Class C
American Eagle
Outfitters Inc.
Callaway Golf Co.
Discovery Inc.
Class A
Under Armour Inc.
Class A
Sonos Inc.
Liberty Media
Corp.-Liberty
SiriusXM Class A
LCI Industries
LuminarTechnologies Inc.
Class AKB HomeLeslie's Inc.
Boot Barn
Holdings Inc.
Steven Madden Ltd.
Columbia Sportswear
Co.
Grand Canyon
Education Inc.
Coty Inc. Class A
LGI Homes Inc.
Group 1
Automotive Inc.
Dana Inc.
SeaWorld
Entertainment Inc.

SharesMarketValue($000)

9,023,337
1,433,117

128,492
124,724

Shares**930,036

124,132

5,557,425

123,319***

1,534,502

121,195

2,799,189
3,915,237
5,012,904
4,994,275

120,869
120,198
119,558
117,6652,658,122
6,281,171

116,692
116,579

3,318,552
1,141,463

116,017
115,5392,358,364

113,178*

644,864

111,387*

6,124,371

110,484***

4,312,685
3,966,605

109,197
108,8444,580,165

107,817

5,084,312
3,614,846

107,737
107,722

*
*
*,1
*

*
*
*,1

2,108,435
682,455

107,214106,374

6,282,706
2,362,961
4,413,244

106,241
105,695
104,417842,207
2,198,830

103,634
102,180

1,016,981

99,0951,140,456
9,271,639
618,877

97,74897,352
95,604

488,983
4,103,966

95,45993,653

1,428,204

92,633

*

*

*

*,1

*

Ollie's Bargain Outlet
Holdings Inc.
1,757,744
MDC Holdings Inc.
1,607,171
Visteon Corp.
796,525
Frontdoor Inc.
2,408,996
Six Flags
Entertainment Corp. 2,072,282
Tri Pointe Homes Inc. 3,157,085
DormanProducts Inc.
764,391
Cracker Barrel Old
Country Store Inc.
668,715
Lennar Corp. Class B
892,929
MillerKnoll Inc.
2,153,414
Penske Automotive
Group Inc.
777,823
Madison Square
Garden Sports Corp.
476,440
Red Rock
Resorts Inc. Class A 1,496,638
Gentherm Inc.
944,152
Allegiant Travel Co.
434,952
Rent-A-Center Inc.
1,692,151
Sabre Corp.
9,167,070
Cavco Industries Inc.
247,745
TripAdvisor Inc.
2,842,207
Figs Inc. Class A
2,801,723
Shake Shack Inc.
Class A
1,057,169
Qurate Retail Inc.
Class A
9,935,944
Kontoor Brands Inc.
1,466,970
Vista Outdoor Inc.
1,629,510
Coursera Inc.
2,998,543
PROG Holdings Inc.
1,613,112
Rush Enterprises Inc.
Class A
1,293,213
Nordstrom Inc.
3,161,808
CenturyCommunities Inc.
862,906
Overstock.com Inc.
1,160,313
John Wiley &Sons Inc. Class A
1,195,153
Graham Holdings Co.
Class B
107,809
Winnebago
Industries Inc.
904,451
Spirit Airlines Inc.
3,099,963
Wolverine World
Wide Inc.
2,342,183
Fisker Inc.
4,187,755
Levi Strauss & Co.
Class A
2,606,132
Revolve Group Inc.
Class A
1,122,753－ 26 －

MarketValue($000)
89,97989,72888,52688,29088,23888,051
86,38486,02485,382
84,392
83,39882,77282,33082,047
81,353
81,29178,74578,69677,47977,21676,28575,51375,18275,07273,284
72,767
71,954
71,52070,577
68,47068,446
67,901
67,76167,73467,47865,873
65,231
62,919

バンガード®・トータル・ストック・マーケットETF

Shares

*
*

*

*

*

*
*
*

*

*
*

*

*

*
*

*,1
*

*
*

*

*

*

*
*

World WrestlingEntertainment Inc.
Class A
Knowles Corp.
Sally Beauty
Holdings Inc.
Abercrombie & Fitch
Co. Class A
Houghton Mifflin
Harcourt Co.
iHeartMedia Inc.
Class ASkyWest Inc.
Cardlytics Inc.
Liberty Media
Corp.-Liberty
Formula One
Class A
Cheesecake
Factory Inc.
Everi Holdings Inc.
Madison Square
GardenEntertainment Corp.
KAR Auction
Services Inc.
Bloomin' Brands Inc.
Inter Parfums Inc.
Monro Inc.
ODP Corp.
M/I Homes Inc.
PriceSmart Inc.
iRobot Corp.
ACV Auctions Inc.
Class A
Acushnet Holdings
Corp.
HNI Corp.
Jack in the Box Inc.
Urban Outfitters Inc.
Lions Gate
Entertainment Corp.
Class B
Gray Television Inc.
Driven Brands
Holdings Inc.
BrinkerInternational Inc.
Cinemark
Holdings Inc.
Sleep Number Corp.
elf Beauty Inc.
Oxford Industries Inc.
Camping World
Holdings Inc.
Class A
La-Z-Boy Inc.

MarketValue($000)

Shares*1,272,323
2,639,024

62,776
61,621*3,214,705

59,343*

1,685,206

58,696

3,628,981

58,4272,737,141
1,427,580
846,908

57,58956,10455,972

*

*
*

1
*,1

931,971

55,303

1,409,648
2,582,987

55,18855,147

*,1

*

*
*

782,547

55,044

3,443,502
2,545,187
497,987
906,491
1,319,899
831,424
702,559
767,039

53,78853,39853,23552,821
51,846
51,69851,40650,5332,650,718

49,940939,066
1,179,369
566,861
1,670,873

49,84649,592
49,58949,057

*

*

*

*

*

*

*,1

3,183,715
2,391,838

48,997
48,219**1,422,836

47,836

1,291,775

47,2662,909,906
612,223
1,407,008
457,62146,90846,896
46,72746,458

*

*,1
*
*,1

*

1,142,508
1,247,649

46,15745,302*Central Garden & Pet
Co. Class A
931,779
Petco Health &Wellness Co. Inc.
Class A
2,250,688
Stitch Fix Inc. Class A 2,241,298
Dave & Buster'sEntertainment Inc.
1,102,602
Big Lots Inc.
931,048
Franchise Group Inc.
798,414
2U Inc.
2,037,494
Malibu Boats Inc.
Class A594,655
Dillard's Inc. Class A
166,498
ContextLogic Inc.
Class A
13,114,358
Bed Bath &Beyond Inc.
2,727,840
Adtalem Global
Education Inc.
1,336,028
Stride Inc.
1,155,222
Bally's Corp.
1,003,294
GoPro Inc. Class A
3,633,707
Sinclair Broadcast
Group Inc. Class A
1,406,282
MarineMax Inc.
623,233
Strategic
Education Inc.
630,218
Buckle Inc.
850,015
Dine Brands
Global Inc.
467,022
XPEL Inc.
510,050
Sturm Ruger & Co.
Inc.
497,397
Clear Channel
OutdoorHoldings Inc.
10,064,766
EW Scripps Co.
Class A
1,705,726
G-III Apparel Group
Ltd.
1,169,676
Rover Group Inc.
Class A
3,249,186
Selectquote Inc.
3,480,012
Children's Place Inc.
396,459
Clean Energy Fuels
Corp.
5,058,167
Matthews
International Corp.
Class A
840,980
Mister Car Wash Inc. 1,676,736
Cars.com Inc.
1,865,417
Dutch Bros Inc.
Class A
586,836
Zumiez Inc.
603,962
American Axle &Manufacturing
Holdings Inc.
3,090,797－ 27 －

MarketValue($000)
44,58644,54142,40542,34041,944
41,64540,89340,87140,79540,786
39,77239,49338,50438,18537,464
37,16836,79636,45235,96435,40534,826
33,83333,31433,00632,33031,68031,52931,43531,00730,83930,53330,01529,87628,984
28,837

バンガード®・トータル・ストック・マーケットETF

Shares
*,1

*

*

*

*

*

*,1

*

*
*
*

*
*

*
*

*

*
*

*
*
*

*

*

*
*,1
*

Canoo Inc.
3,729,337
Hibbett Inc.
399,774
Sonic
Automotive Inc.
Class A
579,713
AMC Networks Inc.
Class A
830,849
Lions Gate
Entertainment Corp.
Class A
1,672,185
Standard Motor
Products Inc.
525,112Carriage
Services Inc.
Class A
426,478
GoldenEntertainment Inc.
542,354
Monarch Casino &Resort Inc.
367,965
Denny's Corp.
1,699,029
Interface Inc. Class A 1,684,351
Blink Charging Co.
1,007,737
Guess? Inc.
1,120,158
Liberty Media
Corp.-Liberty Braves
Class C
940,129
Steelcase Inc.
Class A
2,236,903
Genesco Inc.
407,043
Tenneco Inc. Class A 2,309,411
Green Brick
Partners Inc.
858,495
RealReal Inc.
2,224,204
Hawaiian
Holdings Inc.
1,397,468
News Corp. Class B 1,138,629
Lovesac Co.
386,590
QuinStreet Inc.
1,392,113
Smith & Wesson
Brands Inc.
1,365,747
Sun Country Airlines
Holdings Inc.
889,258
Arlo Technologies Inc. 2,276,863
Central Garden & PetCo.
453,040
Thryv Holdings Inc.
579,382
Viad Corp.
555,751
Designer Brands Inc.
Class A
1,670,792
WWInternational Inc.
1,470,013
Caleres Inc.
1,036,100
Rush Street
Interactive Inc.
1,412,344
Citi Trends Inc.
245,188
Corsair Gaming Inc.
1,066,340
Perdoceo EducationCorp.
1,894,742

MarketValue($000)
28,79028,756**,1

28,667*,1

28,614**

27,82527,511
27,482
27,40527,211
27,184
26,86526,715
26,525
26,41826,217
26,12026,096

*

*

*
*

*

*,1

*

*

*

1

26,03825,82325,672
25,61925,61525,323***24,310*24,232
23,884
23,844
23,83023,781***,1

23,742
23,711
23,49923,30423,232
22,404
22,282***

Aaron's Co. Inc.
Arko Corp.
Clarus Corp.
Vizio Holding Corp.
Class A
Portillo's Inc. Class A
BJ's Restaurants Inc.
Latham Group Inc.
Purple Innovation Inc.
Class A
Accel
Entertainment Inc.
Class A
Scholastic Corp.
Gannett Co. Inc.
Tupperware Brands
Corp.
Global Industrial Co.
Beazer Homes
USA Inc.
ThredUp Inc. Class A
Movado Group Inc.
Life Time Group
Holdings Inc.
Ruth's Hospitality
Group Inc.
PowerSchool
Holdings Inc.
Class A
Krispy Kreme Inc.
Laureate
Education Inc.
Class A
America's
Car-Mart Inc.
1-800-Flowers.com
Inc. Class A
TravelCenters ofAmerica Inc.
Winmark Corp.
Quotient
Technology Inc.
Chico's FAS Inc.
RCI Hospitality
Holdings Inc.
Angi Inc. Class A
Poshmark Inc.
Class A
OneWaterMarine Inc. Class A
Shoe Carnival Inc.
Ethan Allen
Interiors Inc.
Party City Holdco Inc.
Chuy's Holdings Inc.
Liquidity
Services Inc.

－ 28 －

SharesMarketValue($000)

894,9312,481,279
775,402

22,06021,761
21,494

1,102,849
569,641
618,740
851,305

21,42821,384
21,377
21,3081,599,775

21,2291,600,271
513,493
3,818,003

20,836
20,51920,3501,323,079
486,761

20,23019,909830,575
1,484,311
449,351

19,286
18,94018,796

1,083,300

18,644

929,579

18,4991,122,480
972,532

18,487
18,4001,480,558

18,122

176,31218,054

771,537

18,031

347,029
72,13817,914
17,911

2,412,918
3,319,275

17,904
17,858

225,730
1,904,642

17,58017,542

1,022,034

17,405282,871436,102

17,247
17,043647,6143,031,691
560,372

17,026
16,887
16,878740,267

16,345

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
*

HovnanianEnterprises Inc.
Class A
Vuzix Corp.
MasterCraft Boat
Holdings Inc.
Integral Ad Science
Holding Corp.
A-Mark Precious
Metals Inc.
European Wax
Center Inc. Class A
Stoneridge Inc.
Duolingo Inc. Class A
Boston Omaha Corp.
Class A
Stagwell Inc.
Funko Inc. Class A
Sportsman's
Warehouse
Holdings Inc.
LL Flooring
Holdings Inc.
CarParts.com Inc.
Fossil Group Inc.
AMMO Inc.
Lindblad Expeditions
Holdings Inc.
Haverty FurnitureCos. Inc.
JohnsonOutdoors Inc.
Class A
Bluegreen Vacations
Holding Corp.
Class A
Janus International
Group Inc.
Sweetgreen Inc.
Class A
Cricut Inc. Class A
Frontier Group
Holdings Inc.
Lordstown Motors
Corp.
Universal
Electronics Inc.
Conn's Inc.
Golden Nugget
Online Gaming Inc.
KimballInternational Inc.
Class B
Full House
Resorts Inc.
Marcus Corp.
American Public
Education Inc.

MarketValue($000)

Shares127,447
1,706,177

16,223
14,793519,098

14,706659,627

14,650239,095

14,609*477,548
733,128
134,834

14,494
14,472
14,307*

487,816
1,611,357
738,271

14,015
13,97013,8801,162,482

13,717

1

*,1
*,1

*,1

*

*,1

*

802,995
1,217,153
1,319,131
2,454,609

13,707
13,632
13,574
13,378851,979

13,291

430,730

13,167

*

*
*

*
*

139,239

13,045*

365,934

12,844*

1,023,381

12,813*394,655
567,341

12,62912,533*,1

910,699

12,358*,1

3,556,255

12,269293,728
499,363

11,96911,745

1,166,902

11,611

1,134,107

11,602

952,478643,540

11,535
11,494

511,008

11,370

*,1

*

*,1
*
*
*
*,1

*

*

*,1

Entravision
Communications
Corp. Class A
1,674,306
Big 5 Sporting Goods
Corp.
596,868
BARK Inc.
2,686,777
Liberty Media
Corp.-Liberty Braves
Class A
390,380
Cooper-Standard
Holdings Inc.
497,350
Noodles & Co.
Class A
1,186,247
Dream Finders
Homes Inc. Class A
550,933
Tilly's Inc. Class A
658,710
RumbleON Inc.
Class B
253,143XL Fleet Corp.
3,139,688
Del Taco
Restaurants Inc.
826,810
Kura Sushi USA Inc.
Class A
120,616
Turtle Beach Corp.
430,683
Rush Enterprises Inc.
Class B
177,642
Cato Corp. Class A
536,537
Century Casinos Inc.
751,313
Snap One Holdings
Corp.
427,850
Sciplay Corp. Class A
652,071
ONE Group
Hospitality Inc.
706,651
Destination XLGroup Inc.
1,528,407
Motorcar Parts ofAmerica Inc.
508,491
Container Store
Group Inc.
863,409
Allbirds Inc. Class A
571,448
Genius Brands
International Inc.
8,048,873
Vinco Ventures Inc.
3,506,721
Alta Equipment
Group Inc.
568,355
Eastman Kodak Co.
1,773,206
Audacy Inc. Class A
3,219,968
Holley Inc.
635,789
Lands' End Inc.
415,014Traeger Inc.
665,828
Rocky Brands Inc.
202,930
American Outdoor
Brands Inc.
401,980
Daily Journal Corp.
22,234
Hooker FurnishingsCorp.
333,634
Udemy Inc.
388,908－ 29 －

MarketValue($000)

11,352
11,346
11,338
11,223
11,146
10,75910,716
10,612
10,511
10,392
10,294
9,751
9,587
9,587
9,207
9,151
9,019
8,986
8,911
8,681
8,680
8,617
8,617
8,451
8,346
8,321
8,299
8,275
8,259
8,147
8,096
8,077
8,011
7,932
7,767
7,599

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
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*
*

*
*
*
*

*
*
*,1

*
*,1

*

*,1

Superior Group of
Cos. Inc.
Esports
Technologies Inc.
Build-A-BearWorkshop Inc.
El Pollo Loco
Holdings Inc.
1847 Goedeker Inc.
Red Robin Gourmet
Burgers Inc.
Barnes & Noble
Education Inc.
F45 Training
Holdings Inc.
Tile Shop
Holdings Inc.
Universal TechnicalInstitute Inc.
Arcimoto Inc.
Lazydays
Holdings Inc.
Weber Inc. Class A
Lifetime Brands Inc.
Lincoln Educational
Services Corp.
Vera Bradley Inc.
Legacy Housing
Corp.
Nerdy Inc.
Ondas Holdings Inc.
XpresSpa Group Inc.
Fiesta RestaurantGroup Inc.
Kirkland's Inc.
Solo Brands Inc.
Class A
Nautilus Inc.
Xponential
Fitness Inc. Class A
Express Inc.
Arhaus Inc. Class A
PlayAGS Inc.
Cumulus Media Inc.
Class A
Delta Apparel Inc.
Mesa Air Group Inc.
Cinedigm Corp.
Class ALee Enterprises Inc.
Faraday FutureIntelligent
Electric Inc.
Duluth Holdings Inc.
Class B
CarLotz Inc.

SharesMarketValue($000)

336,6887,387

357,232

7,345

370,870

7,239

*

*

506,628
2,939,372

7,189
7,055

*

*

426,022

7,042

1,030,888

7,020

644,113

7,014

961,063

6,852

*,1

1
*,1

863,741
839,472

6,754
6,531

*,1

302,067
497,623
397,860

6,507
6,434
6,354

*

842,781
727,256

6,296
6,189

233,301
1,316,500
877,371
2,891,324

6,175
5,924
5,887
5,840

*,1

503,077
368,678

5,539
5,504

*,1

352,117897,105

5,504
5,499

266,864
1,747,660
405,773
787,936

5,455
5,383
5,377
5,350

469,461
177,059
931,159

5,281
5,266
5,215

4,433,038
144,656

5,142
4,996

930,089

4,948

324,610
2,116,825

4,928
4,805

*

*

*,1

*

*
*
*
*

*

*
*

*

LakelandIndustries Inc.
FlexsteelIndustries Inc.
National
CineMedia Inc.
Aterian Inc.
TownsquareMedia Inc. Class A
Liberty TripAdvisor
Holdings Inc.
Class A
Shift
Technologies Inc.
Bassett Furniture
Industries Inc.
JOANN Inc.
Focus Universal Inc.
CuriosityStream Inc.
VOXX International
Corp. Class A
Strattec Security
Corp.
First Watch
RestaurantGroup Inc.
Brilliant EarthGroup Inc. Class A
Rent the Runway Inc.
Class A
Casper Sleep Inc.
Nathan's
Famous Inc.
Reservoir Media Inc.
Weyco Group Inc.
Escalade Inc.
Wayside Technology
Group Inc.
Drive Shack Inc.
Outbrain Inc.
Potbelly Corp.
Tuesday Morning
Corp.
Wheels Up
Experience Inc.
Hamilton Beach
Brands Holding Co.
Class A
Marine Products
Corp.
Gaia Inc. Class A
iMedia Brands Inc.
Saga
Communications
Inc. Class A
Biglari Holdings Inc.
Class A－ 30 －

SharesMarketValue($000)

219,969

4,773

176,856

4,750

1,676,816
1,142,716

4,712
4,697

336,709

4,488

2,050,097

4,449

1,302,731

4,442

264,538
423,780
493,800
728,847

4,436
4,399
4,375
4,322

421,895

4,291

115,520

4,277

250,998

4,207

231,495

4,181

509,942596,360

4,156
3,984

66,657489,336
150,356
225,800

3,892
3,871
3,600
3,565

100,234
2,362,238
240,155
601,878

3,514
3,378
3,362
3,358

1,465,187

3,341

708,381

3,287

228,579

3,282

255,346
367,401
512,961

3,192
3,149
3,078

127,309

3,057

4,330

3,009

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
*

*

Carrols RestaurantGroup Inc.
1,009,447
RedboxEntertainment Inc.
402,900
Chicken Soup For The
SoulEntertainment Inc.
211,224
Acme United Corp.
85,199Urban One Inc.
844,838
Superior Industries
International Inc.
622,847
Emerald Holding Inc.
690,955
Biglari Holdings Inc.
Class B
18,772SRAX Inc. Class A
591,097
Landsea Homes
Corp.
356,896
HyreCar Inc.
526,051
Revlon Inc. Class A
214,200
BBQ Holdings Inc.
152,057
Hall of Fame Resort& Entertainment
Co.
1,464,451
NextPlay
Technologies Inc.
2,436,472
Fluent Inc.
1,044,952
J. Jill Inc.
108,388
BurgerFi
International Inc.
362,697
Dixie Group Inc.
344,452
Travelzoo
204,643
LiveOne Inc.
1,461,313
Regis Corp.
1,043,845
Educational
Development Corp.
202,269
Charles & Colvard
Ltd.
610,246
StoneMor Inc.
770,131
Red Cat Holdings Inc.
844,136
Luby's Inc.
600,620
DolphinEntertainment Inc.
199,020
Owlet Inc.
625,636
FAT Brands Inc.
Class A
153,984
Good Times
Restaurants Inc.
350,945
Aspen Group Inc.
638,706
LMP Automotive
Holdings Inc.
210,630
Crown Crafts Inc.
197,670
AYRO Inc.
891,109
Envela Corp.
343,551
Marchex Inc. Class B
546,577
DallasNews Corp.
176,590
Kewaunee ScientificCorp.
97,612MarketValue($000)
*

2,988

*

2,986

*
*

2,923
2,871
2,864
2,790
2,743
2,676
2,654
2,612
2,478
2,429
2,415

*,1
*
*

*,1

*
*

*,1

*

*,1

2,226
2,084
2,079
2,079

*,1
*

*,1

*

2,057
1,974
1,928
1,870
1,816

*,1

1,804

*,1

*

*

*

1,764
1,756
1,756
1,718

*,1
*

*

1,696
1,670

*,1

1,631

*,1

1,523
1,507

*,1
*
*

1,472
1,437
1,435
1,398
1,356
1,270
1,244

*,1

*
*

JAKKS Pacific Inc.
Salem MediaGroup Inc. Class A
Live Ventures Inc.
Zovio Inc. Class A
Koss Corp.
FlexShopper Inc.
Volcon Inc.
CompX
International Inc.
Digital Media
Solutions Inc.
NL Industries Inc.
Harte Hanks Inc.
Ark Restaurants
Corp.
Troika MediaGroup Inc.
Digital Brands
Group Inc.
Vince Holding Corp.
InterGroup Corp.
Canterbury Park
Holding Corp.
MullenAutomotive Inc.
Beasley Broadcast
Group Inc. Class A
Instructure
Holdings Inc.
Allied Esports
Entertainment Inc.
Urban One Inc.
Class A
EzFill Holdings Inc.
Motorsport
Games Inc. Class A
Auddia Inc.
aka Brands Holding
Corp.
Lulu's Fashion
LoungeHoldings Inc.
Lottery.com Inc.
Mediaco Holding Inc.
Class A
Muscle Maker Inc.
PARTS iD Inc.
Reading
International Inc.
Class A
Amesite Inc.
Jerash Holdings
US Inc.
Kaspien Holdings Inc.
Grom Social
Enterprises Inc.

－ 31 －

SharesMarketValue($000)

116,504

1,184

370,322
34,139827,480
96,440425,184
83,500

1,133
1,076
1,051
1,030
999
902

38,137857

173,744
109,805
102,600

831
813
780

42,468707

595,828697

296,678
85,41012,233

682
680
661

35,941

620

117,454614

314,502594

23,243557

298,452

510

107,488348,800

500
481

138,235
264,100

470
470

45,691423

36,66758,000375
369

67,571
487,573
138,518

362
351
338

83,326
292,757

337
302

43,903
23,810284
252

134,277242

バンガード®・トータル・ストック・マーケットETF

*,1
*

1

*
*
*

*

*

*

*,2
*,2
*

*
*,2

Applied UV Inc.
ForwardIndustries Inc.
FAT Brands Inc.
Class B
Torrid Holdings Inc.
Xcel Brands Inc.
UniqueFabricating Inc.
Virco Manufacturing
Corp.
Flanigan's
Enterprises Inc.
Moving Image
Technologies Inc.
Zagg Inc. CVR
SRAX Inc.
Rave RestaurantGroup Inc.
Summer Infant Inc.
resTORbio Inc. CVR

SharesMarketValue($000)

86,071

232

144,468

225

16,647
16,980151,456

224
168
165

79,983

157

38,418

118

3,749

116

40,290780,631590,6418570
47

21,026522
70,19421
5—218,314,246

Consumer Staples (4.7%)
Procter & Gamble
Co.
68,774,496
PepsiCo Inc.
39,294,953
Coca-Cola Co.
110,482,879
Philip MorrisInternational Inc.
44,245,226
CVS Health Corp.
37,517,401
MondelezInternational Inc.
Class A
39,640,610
Altria Group Inc.
52,205,320
Colgate-PalmoliveCo.
23,947,429
Kimberly-Clark Corp. 9,569,512
General Mills Inc.
17,213,544
Sysco Corp.
14,571,218
Constellation
Brands Inc. Class A 4,435,351
Walgreens Boots
Alliance Inc.
20,913,653
McKesson Corp.
4,329,765
Archer-DanielsMidland Co.
15,902,225*
Monster BeverageCorp.
10,527,725
Corteva Inc.
20,754,473
Kroger Co.
19,025,330
Keurig Dr Pepper Inc. 22,167,787
Hershey Co.
4,131,631
Tyson Foods Inc.
Class A
8,376,405
Church & Dwight Co.
Inc.
6,940,931
Kraft Heinz Co.
19,154,502

11,250,132
6,825,926
6,541,691
4,203,297
3,870,295

Shares

*

*

*

*

*

2,628,569
2,474,010
2,043,674
1,367,675
1,159,849
1,144,569
1,113,140
1,090,856
1,076,250

*
*

*

*,1
*

*

1,074,831
1,011,083
981,272
861,086
817,105
799,347*

730,087*

711,445687,647*

McCormick & Co.
Inc. (Non-Voting)
7,086,139
Brown-Forman Corp.
Class B
9,005,018
Clorox Co.
3,493,193
AmerisourceBergenCorp.
4,137,284
Kellogg Co.
7,272,263
Conagra Brands Inc. 13,637,110
J M Smucker Co.
2,924,160
Hormel Foods Corp.
7,710,013
Bunge Ltd.
3,793,451
Darling
Ingredients Inc.
4,598,916
Lamb Weston
Holdings Inc.
4,152,473
Campbell Soup Co.
5,581,045
Molson Coors
Beverage Co.
Class B
5,134,011
Casey's General
Stores Inc.
1,055,817
Performance FoodGroup Co.
4,378,630
US Foods Holding
Corp.
5,688,259
Post Holdings Inc.
1,599,854
Ingredion Inc.
1,796,611
Flowers Foods Inc.
5,408,573
Boston Beer Co. Inc.
Class A
260,452
Spectrum Brands
Holdings Inc.
1,172,286
Sanderson
Farms Inc.
602,792
Freshpet Inc.
1,169,456
Herbalife NutritionLtd.
2,710,803
Hain Celestial
Group Inc.
2,562,737
Beyond Meat Inc.
1,616,714
Simply Good Foods
Co.
2,452,396
WD-40 Co.
390,101
Sprouts Farmers
Market Inc.
3,195,645
Lancaster ColonyCorp.
547,995
Coca-Cola
Consolidated Inc.
132,113
United Natural
Foods Inc.
1,648,698
Hostess Brands Inc.
Class A
3,932,404
Celsius Holdings Inc. 1,064,986
Primo Water Corp.
4,328,024
Energizer
Holdings Inc.
1,901,802－ 32 －

MarketValue($000)
684,592
656,106
609,073
549,804
468,479
465,707397,159
376,326
354,157
318,659
263,184
242,552
237,961
208,366
200,935
198,122
180,352
173,625
148,574
131,554
119,245
115,182
111,414110,953
109,198
105,345
101,946
95,434
94,84790,74881,80380,91880,30079,41676,30376,262

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
*

Nu SkinEnterprises Inc.
Class A
1,418,629
Beauty Health Co.
2,977,847
Edgewell Personal
Care Co.
1,547,480
Grocery Outlet
Holding Corp.
2,459,571
Medifast Inc.
314,128
TreeHouse Foods Inc. 1,588,167
B&G Foods Inc.
1,846,771
Olaplex Holdings Inc. 1,832,868
J & J Snack Foods
Corp.
326,028
Reynolds Consumer
Products Inc.
1,475,996
Vector Group Ltd.
3,721,616
Cal-Maine Foods Inc. 1,130,220
Pilgrim's Pride Corp. 1,391,177
Universal Corp.
667,177
Ingles Markets Inc.
Class A
406,165
MGP Ingredients Inc.
405,852
USANA Health
Sciences Inc.
332,532
Andersons Inc.
844,343
Chefs'
Warehouse Inc.
970,749
BellRing Brands Inc.
Class A
1,115,843
Weis Markets Inc.
459,818
Utz Brands Inc.
1,891,544
National BeverageCorp.
656,795
Fresh Del Monte
Produce Inc.
1,013,637
Hydrofarm HoldingsGroup Inc.
934,972
Seaboard Corp.
6,616
SpartanNash Co.
970,540Duckhorn
Portfolio Inc.
976,373
John B Sanfilippo &Son Inc.
251,600
Rite Aid Corp.
1,482,120
ACCO Brands Corp.
2,592,751
Calavo Growers Inc.
478,378GrowGenerationCorp.
1,467,130
Tattooed Chef Inc.
1,187,742
Brown-Forman Corp.
Class A
259,279
Turning Point
Brands Inc.
456,482
PLBY Group Inc.
646,732
Mission Produce Inc. 1,001,161

MarketValue($000)

71,99571,9451*,170,73569,55765,78864,36856,75153,391*****51,499**,1

46,34642,72441,80739,23136,641***,1

35,06834,49333,652
32,68532,326*,1*,131,83530,29330,170*,1*,1*29,773
27,976
26,45026,03425,001
22,78922,684
21,772
21,416
20,283
19,146
18,458

*
*,1

*

*,1
*,1
*,1
*

*,1

*
*,1

*

17,577*

17,246
17,22915,718*Nature's Sunshine
Products Inc.
PetMed Express Inc.
22nd Century
Group Inc.
Tootsie Roll
Industries Inc.
Honest Co. Inc.
Whole Earth
Brands Inc.
Sovos Brands Inc.
Veru Inc.
Vital Farms Inc.
Benson Hill Inc.
HF Foods Group Inc.
Oil-Dri Corp. of
America
Landec Corp.
Seneca Foods Corp.
Class A
AppHarvest Inc.
Limoneira Co.
Alico Inc.
Village Super
Market Inc. Class A
Natural Grocers byVitamin Cottage Inc.
Local Bounti Corp.
NewAge Inc.
Vita Coco Co. Inc.
Alkaline Water Co.
Inc.
Lifevantage Corp.
Farmer Bros Co.
AquaBounty
Technologies Inc.
Natural Alternatives
International Inc.
LifeMD Inc.
Laird Superfood Inc.
Zevia PBC Class A
Blue Apron
Holdings Inc.
Class A
Beachbody Co. Inc.
ProPhase Labs Inc.
Urban-Gro Inc.
Greenlane
Holdings Inc.
Class A
Nuzee Inc.
S&W Seed Co.
AMCON Distributing
Co.
Rocky Mountain
Chocolate
Factory Inc.

－ 33 －

SharesMarketValue($000)

789,554568,993

14,607
14,373

4,628,765

14,303391,887
1,426,618

14,198
11,541

1,037,374
716,600
1,770,928
520,595
1,265,490
1,087,920

11,141
10,785
10,431
9,402
9,225
9,204

263,293714,876

8,618
7,935

162,229
1,904,283
451,596
149,534

7,779
7,408
6,774
5,537

219,880

5,143

317,495
617,326
3,820,555
315,970

4,524
3,982
3,935
3,529

2,698,649
500,965
415,167

3,184
3,166
3,093

1,307,824

2,746

197,375
621,308
182,168
333,732

2,495
2,404
2,376
2,353

344,335
968,258
303,130
189,972

2,317
2,295
2,173
1,991

2,011,084
410,002576,492

1,939
1,697
1,574

6,105

1,218

152,7871,192

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*

*
*,1

*,1
*

*

*

*

*

*

*

*
*

*

Mannatech Inc.
30,953
Willamette Valley
Vineyards Inc.
130,770
Ocean Bio-Chem Inc.
124,500
Coffee Holding Co.
Inc.
230,234
Real Good Food Co.
Inc. Class A
157,843
Reed's Inc.
2,530,478
MedAvail
Holdings Inc.
629,749
Calyxt Inc.
333,863
Better Choice Co.
Inc.
197,337
Eastside
Distilling Inc.
341,987
Guardion Health
Sciences Inc.
787,758
Arcadia
Biosciences Inc.
483,138
Bridgford Foods
Corp.
39,983
MamaMancini's
Holdings Inc.
205,991
Yield10Bioscience Inc.
75,975
Lifeway Foods Inc.
45,393
RiceBran
Technologies
560,464
Zivo Bioscience Inc.
62,634MarketValue($000)

Shares

1,186
1,135
1,083
1,002
*

988
908

*

882
711
*

637
612

*

510

*

503
465
416

*

*,1

374
214
195
180

*

64,495,877
Energy (2.8%)
Exxon Mobil Corp. 120,319,130
Chevron Corp.
54,784,484
ConocoPhillips
37,485,339
EOG Resources Inc. 16,629,234
Schlumberger NV
39,874,353
Pioneer Natural
Resources Co.
6,246,129
Marathon PetroleumCorp.
17,496,110
Kinder Morgan Inc.
57,991,542
Phillips 66
12,455,848
Valero Energy Corp. 11,614,485
Williams Cos. Inc.
33,153,587
Devon Energy Corp. 19,233,799
ONEOK Inc.
12,678,056
Occidental PetroleumCorp.
25,206,963
Cheniere Energy Inc. 6,486,678*
Enphase Energy Inc. 3,451,568
Hess Corp.
7,923,192
Baker Hughes Co.
23,525,253
Diamondback
Energy Inc.
5,149,710
Halliburton Co.
24,185,025*
Plug Power Inc.
16,387,798

7,362,328
6,428,959
2,705,692
1,477,175
1,194,237*

1,136,046
1,119,576
919,746
902,551
872,364
863,319
847,249744,963
730,750
657,879
631,430
586,554
566,018
555,396
553,112462,628

*,1

*

*

*

*

*

Coterra Energy Inc. 23,124,856
Marathon Oil Corp. 22,133,274
Targa Resources
Corp.
6,507,505
APA Corp.
10,326,651
Ovintiv Inc.
7,422,687
First Solar Inc.
2,720,101
EQT Corp.
10,744,643
Texas Pacific Land
Corp.
176,157
Chesapeake EnergyCorp.
2,924,725
NOV Inc.
11,120,234
HollyFrontier Corp.
4,157,470
PDC Energy Inc.
2,768,909
Southwestern
Energy Co.
28,904,087
Antero Resources
Corp.
7,587,733
DT Midstream Inc.
2,749,231
Range Resources
Corp.
7,018,074
ChargePoint
Holdings Inc.
6,419,977
Equitrans Midstream
Corp.
11,678,401
CivitasResources Inc.
2,377,588
ChampionX Corp.
5,752,265
Matador Resources
Co.
3,003,844
Murphy Oil Corp.
4,175,145
Denbury Inc.
1,353,732
SM Energy Co.
3,454,445
California ResourcesCorp.
2,285,489
Antero Midstream
Corp.
8,820,351
Magnolia Oil & Gas
Corp. Class A
4,390,416
Stem Inc.
3,902,594
Arcosa Inc.
1,372,884
Shoals Technologies
Group Inc. Class A
2,969,583
Whiting PetroleumCorp.
1,107,029
CNX ResourcesCorp.
5,108,559
Ameresco Inc.
Class A
858,200
Continental
Resources Inc.
1,560,025
Oasis Petroleum Inc.
534,448
Callon Petroleum Co. 1,395,398
Helmerich &Payne Inc.
2,770,002
Cactus Inc. Class A
1,677,887－ 34 －

MarketValue($000)
439,372
363,428
339,952
277,684
250,145
237,084
234,341
219,997
188,703150,679
136,282
135,067
134,693
132,785
131,908
125,132
122,301
120,755
116,430
116,253
110,902
109,013103,682
101,837
97,61385,381
82,84774,032
72,351
72,161
71,60370,24369,892
69,827
67,33565,93365,64963,978

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
*

*
*

*

*

Renewable Energy
Group Inc.
1,432,078
Array
Technologies Inc.
3,647,281
FuelCell Energy Inc.
9,902,701
SunPower Corp.
2,455,269
Green Plains Inc.
1,446,539
Weatherford
International plc
1,794,387
New Fortress
Energy Inc. Class A 2,057,729
World Fuel Services
Corp.
1,698,033
Patterson-UTI
Energy Inc.
5,216,876
Transocean Ltd.
15,701,779
Arch Resources Inc.
435,409
Warrior Met Coal Inc. 1,470,663
Tellurian Inc.
11,565,108
PBF Energy Inc.
Class A
2,732,636
Northern Oil &Gas Inc.
1,715,318
Liberty Oilfield
Services Inc.
Class A
3,408,195
Archrock Inc.
4,390,845
Oceaneering
International Inc.
2,859,768
Delek US
Holdings Inc.
2,122,957
Centennial Resource
Development Inc.
Class A
5,263,526
Fluence Energy Inc.
Class A
845,919
Peabody EnergyCorp.
2,896,192
Core Laboratories NV 1,300,792
Alpha Metallurgical
Resources Inc.
443,333NOW Inc.
3,119,549
LaredoPetroleum Inc.
437,939BrighamMinerals Inc.
Class A
1,223,920
Noble Corp.
1,027,335
Gevo Inc.
5,448,564
Gulfport EnergyCorp.
321,805
DMC Global Inc.
530,714
Par Pacific
Holdings Inc.
1,264,259
NexTier Oilfield
Solutions Inc.
5,861,975
ProPetro Holding
Corp.
2,528,442

MarketValue($000)*

60,777*57,22651,494
51,24150,282***

49,740*,1

49,67444,947*44,08343,33739,76237,811
35,621*35,442

*

*
*
*

*

35,301*33,05932,844**,1

32,344
31,823***31,476*30,081*,1

29,16529,021
27,06526,641***,1*

26,333*25,812
25,48823,32023,18021,022
20,84820,81020,480

*

*

*,1
*,1
1
*
*,1

*

Bristow Group Inc.
Class A
Dril-Quip Inc.
Comstock
Resources Inc.
Nabors IndustriesLtd.
CONSOL Energy Inc.
Montauk
Renewables Inc.
Berry Corp.
SunCoke Energy Inc.
Centrus Energy Corp.
Class A
Ranger Oil Corp.
MRC Global Inc.
TPI Composites Inc.
REX American
Resources Corp.
CVR Energy Inc.
Talos Energy Inc.
Helix Energy
Solutions Group Inc.
Tidewater Inc.
Select Energy
Services Inc.
Class A
Aemetis Inc.
RPC Inc.
SandRidge
Energy Inc.
TETRA
Technologies Inc.
Earthstone
Energy Inc. Class A
Crescent Energy Inc.
Class A
W&T Offshore Inc.
Oil States
International Inc.
Volta Inc.
AmericanSuperconductor
Corp.
Newpark
Resources Inc.
FTS International Inc.
Class A
SilverBow
Resources Inc.
EVgo Inc.
Camber Energy Inc.
Altus Midstream Co.
Trecora Resources
Advent Technologies
Holdings Inc.
Matrix Service Co.

－ 35 －

SharesMarketValue($000)

644,164
1,016,414

20,401
20,0032,272,847

18,387208,953735,685

16,944
16,707

1,624,116
1,936,014
2,368,439

16,647
16,301
15,608

310,367
570,189
2,220,526
982,532

15,49015,34915,277
14,699150,951
855,403
1,284,887

14,491
14,37912,592

3,988,209
1,081,354

12,443
11,581

1,858,281
805,835
2,163,613

11,5779,912
9,823

920,016

9,623

3,298,148

9,367

834,701

9,132

696,896
2,683,486

8,837
8,668

1,675,598
1,089,200

8,328
7,995

699,725

7,613

2,465,453

7,248

274,859

7,215

320,799684,200
7,107,332
96,236
711,814

6,984
6,801
6,041
5,900
5,751

804,755
742,386

5,641
5,583

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

*

Solaris Oilfield
Infrastructure Inc.
Class A
RamacoResources Inc.
VAALCO Energy Inc.
Falcon Minerals
Corp.
Ring Energy Inc.
NACCO
Industries Inc.
Class A
Beam Global
Natural Gas Services
Group Inc.
Evolution Petroleum
Corp.
NextDecade Corp.
FTC Solar Inc.
Amplify Energy Corp.
American Resources
Corp.
Geospace
Technologies Corp.
Sunworks Inc.
Flotek Industries Inc.
Ocean PowerTechnologies Inc.
Exterran Corp.
Battalion Oil Corp.
Epsilon Energy Ltd.
Adams Resources &Energy Inc.
Ranger Energy
Services Inc.
Class A
Ideal Power Inc.
SEACOR Marine
Holdings Inc.
ESS Tech Inc.
PHX Minerals Inc.
Ecoark Holdings Inc.
iSun Inc.
PrimeEnergy
Resources Corp.
Gulf Island
Fabrication Inc.
Forum Energy
Technologies Inc.
Hallador Energy Co.
Capstone Green
Energy Corp.
Smart Sand Inc.
US Well Services Inc.
Class A
Dawson GeophysicalCo.

MarketValue($000)*

851,953

5,580

*
*,1

376,500
1,573,656

5,120
5,051

1,004,143
2,080,950

4,890
4,745

*

*,1

*
*

125,541
225,421

4,556
4,193

*,1

378,603

3,964

*,1

784,579
1,303,072
470,149859,535

3,962
3,714
3,554
2,673

*

1,448,956

2,608

*

385,060
763,794
1,911,170

2,588
2,345
2,160

1,436,122
707,599
207,283
355,787

2,125
2,109
2,031
2,017

67,642

1,881

179,548
149,114

1,844
1,798

507,121
147,986
766,499
703,727
262,173

1,724
1,693
1,663
1,569
1,563

21,626

1,493

372,057

1,492

89,925579,365

1,443
1,425

344,624
618,977

1,144
1,102

895,941

1,030

420,698

974

*

*

*

*

*,1,2

*,1

MIND
Technology Inc.
Profire Energy Inc.
KLX Energy Services
Holdings Inc.
Mammoth Energy
Services Inc.
ION GeophysicalCorp.
PEDEVCO Corp.
IndependenceContract Drilling Inc.
New Concept
Energy Inc.
Nine Energy
Service Inc.
Nabors Industries
Ltd. Warrants Exp.
6/11/26
US Energy Corp.
Wyoming
Stabilis Solutions Inc.
NCS Multistage
Holdings Inc.
Tidewater Inc.
Class A Warrants
Exp. 7/31/23
Tidewater Inc.
Class B Warrants
Exp. 7/31/23
Harvest Natural
Resources Inc.
FTS International Inc.
Warrants Exp.
11/19/23

SharesMarketValue($000)

491,883
598,754817
635

186,512578

307,258559

615,545
460,492542
488

129,345388

154,300

367

332,516332

70,676

264

73,86243,809

242
188

5,982

173

8,839

5

9,555

3

51,829—22,671—
38,467,534

Financials (10.8%)*
Berkshire
Hathaway Inc.
Class B
48,225,937
JPMorgan Chase &Co.
83,988,235
Bank of America
Corp.
197,709,410
Wells Fargo & Co. 113,321,790
Morgan Stanley
40,798,842
Charles SchwabCorp.
43,757,082
Goldman Sachs
Group Inc.
9,533,979
BlackRock Inc.
3,885,635
Citigroup Inc.
56,391,721
S&P Global Inc.
6,849,223
Blackstone Inc.
19,521,962
Marsh & McLennan
Cos. Inc.
14,348,153
PNC Financial
Services Group Inc. 12,010,806－ 36 －

14,419,555
13,299,537
8,796,092
5,437,179
4,004,814
3,679,971
3,647,224
3,557,532
3,405,496
3,232,354
2,525,947
2,493,996
2,408,407

バンガード®・トータル・ストック・マーケットETF

Shares**CME Group Inc.
10,215,056
Truist Financial Corp. 37,928,163
Intercontinental
Exchange Inc.
16,010,771
US Bancorp
37,925,164
Chubb Ltd.
10,405,274
Aon plc Class A
5,949,029
Moody's Corp.
4,490,534
Progressive Corp.
16,608,682
MSCI Inc.
2,226,044
AmericanInternational
Group Inc.
23,599,107
T. Rowe Price
Group Inc.
6,387,721
Bank of New York
Mellon Corp.
21,124,633
KKR & Co. Inc.
15,795,030
Prudential
Financial Inc.
10,740,838
SVB Financial Group 1,668,009
MetLife Inc.
17,930,203
Travelers Cos. Inc.
6,991,414
First Republic Bank
5,088,465
Arthur J Gallagher &Co.
5,891,200
Aflac Inc.
16,920,915
Discover Financial
Services
8,330,088
Ameriprise
Financial Inc.
3,180,155
Allstate Corp.
8,146,969
Coinbase Global Inc.
Class A
3,750,497
Fifth Third Bancorp
19,434,478
Willis Towers Watsonplc
3,541,684
Nasdaq Inc.
3,326,160
State Street Corp.
7,300,767
Northern Trust Corp.
5,607,132
Hartford Financial
Services Group Inc. 9,674,667
Huntington
Bancshares Inc.
41,112,365
KeyCorp
26,461,232
Broadridge Financial
Solutions Inc.
3,312,162
Regions Financial
Corp.
27,105,395
Citizens Financial
Group Inc.
12,114,193
M&T Bank Corp.
3,657,449
Principal Financial
Group Inc.
7,533,780
Raymond James
Financial Inc.
5,273,097

MarketValue($000)

Shares2,333,732
2,220,694
2,189,793
2,130,256
2,011,444
1,788,040
1,753,913
1,704,881
1,363,875***

1,341,845
1,256,081
1,226,919
1,176,730
1,162,588
1,131,310
1,120,458
1,093,667
1,050,819
999,560
988,012
962,625
959,326
958,491
946,513846,372*

841,115
698,527
678,971670,669
667,939
633,953
612,048605,529590,898572,396
561,711*,1

544,918
529,419**

FactSet Research
Systems Inc.
1,069,802
Cincinnati Financial
Corp.
4,352,185
Brown & Brown Inc. 6,822,503
Markel Corp.
388,240
Berkshire
Hathaway Inc.
Class A
1,051
Ally Financial Inc.
9,846,914
Arch Capital Group
Ltd.
10,424,414
Signature Bank
1,418,801
Apollo AssetManagement Inc.
6,234,076
MarketAxess
Holdings Inc.
1,026,900
Fidelity National
Financial Inc.
7,679,797
Cboe Global
Markets Inc.
3,029,409
Equitable
Holdings Inc.
11,511,808
Loews Corp.
6,126,880
LPL Financial
Holdings Inc.
2,164,186
Carlyle Group Inc.
6,079,507
Lincoln NationalCorp.
4,880,883
Ares Management
Corp. Class A
4,048,954
Comerica Inc.
3,728,720
Annaly CapitalManagement Inc. 41,142,564
Athene Holding Ltd.
Class A
3,822,576
East West
Bancorp Inc.
4,033,493
W R Berkley Corp.
3,765,001
Everest Re Group
Ltd.
1,118,860
Western Alliance
Bancorp2,813,951
TradewebMarkets Inc.
Class A
2,985,306
Franklin
Resources Inc.
8,564,594
American Financial
Group Inc.
2,046,578
Zions Bancorp NA
4,447,949
SoFi
Technologies Inc.
17,196,053
Invesco Ltd.
11,802,080
Assurant Inc.
1,618,971
First Horizon Corp.
15,365,123
Alleghany Corp.
369,779
Upstart Holdings Inc. 1,630,582－ 37 －

MarketValue($000)
519,934
495,844479,486
479,088473,646468,812463,365
458,940
451,534
422,333
400,732
395,035
377,472
353,889
346,465
333,765
333,169
329,058
324,399
321,735
318,535
317,355
310,198
306,478
302,922298,949
286,828
281,036
280,932
271,870
271,684
252,333
250,912
246,861
246,707

バンガード®・トータル・ストック・マーケットETF

Shares1

Globe Life Inc.
2,586,301
First American
Financial Corp.
2,962,815
Morningstar Inc.
673,698
AGNC Investment
Corp.
14,894,178
RenaissanceRe
Holdings Ltd.
1,308,156
SEI Investments Co. 3,565,874
People's United
Financial Inc.
12,166,689
Commerce
Bancshares Inc.
3,117,858
Reinsurance Groupof America Inc.
1,921,747
Voya Financial Inc.
3,158,599
Cullen/Frost
Bankers Inc.
1,628,534
Old Republic
International Corp.
8,285,987
Janus Henderson
Group plc
4,848,475
Jefferies Financial
Group Inc.
5,233,530
Starwood Property
Trust Inc.
8,232,975
Interactive Brokers
Group Inc. Class A
2,514,881
Stifel Financial Corp. 2,813,917
Pinnacle Financial
Partners Inc.
2,056,226
First Financial
Bankshares Inc.
3,846,987
Synovus Financial
Corp.
3,929,745
Affiliated Managers
Group Inc.
1,097,879
Prosperity
Bancshares Inc.
2,486,041
Glacier Bancorp Inc. 3,146,050
Popular Inc.
2,129,164
Primerica Inc.
1,122,369
Blue Owl Capital Inc.
Class A
11,522,581
OneMainHoldings Inc.
3,311,140
SLM Corp.
8,333,532
Bank OZK
3,506,828
Cadence Bank
5,473,997
Valley National
Bancorp
11,576,034
SouthState Corp.
1,983,629
PacWest Bancorp
3,334,427
Houlihan Lokey Inc.
Class A
1,449,608
New York
Community
Bancorp Inc.
12,109,549

MarketValue($000)

Shares242,388
231,781
230,398
224,008
221,510217,304*,1

216,810214,322
210,412
209,447
205,309203,670*

203,345
203,061
200,061
199,732
198,156
196,370
195,581
188,117
180,612
179,741
178,381
174,677
172,025*

171,802
165,689
163,921
163,173
163,070
159,170
158,909150,616150,063
147,858*

Wintrust Financial
Corp.
1,621,326
Kinsale CapitalGroup Inc.
616,377
CIT Group Inc.
2,812,456
Webster Financial
Corp.
2,576,552
New Residential
Investment Corp.
13,253,198
Credit AcceptanceCorp.
206,217
Sterling Bancorp
5,484,248
Selective InsuranceGroup Inc.
1,709,589
Erie Indemnity Co.
Class A
722,007
Blackstone Mortgage
Trust Inc. Class A
4,521,143
RLI Corp.
1,222,251
Trupanion Inc.
1,034,070
Essent Group Ltd.
2,985,528
First Citizens
BancShares Inc.
Class A
162,416
UnitedBankshares Inc.
3,687,105
MGIC Investment
Corp.
9,252,544
Lazard Ltd. Class A
3,041,343
Unum Group
5,233,902
Evercore Inc. Class A
942,795
UMB Financial Corp. 1,169,394
Walker & Dunlop Inc.
819,811Hanover InsuranceGroup Inc.
910,754
Umpqua Holdings
Corp.
6,150,217
Axis Capital HoldingsLtd.
2,170,226
ServisFirst
Bancshares Inc.
1,387,609
Brighthouse
Financial Inc.
2,271,871
Hancock WhitneyCorp.
2,346,496
Community Bank
System Inc.
1,535,739
Silvergate Capital
Corp. Class A
765,620
Jackson Financial Inc.
Class A
2,645,650
FNB Corp.
9,078,611
Moelis & Co. Class A 1,733,538
Radian Group Inc.
5,104,001
Pacific PremierBancorp Inc.
2,684,452
BankUnited Inc.
2,535,673－ 38 －

MarketValue($000)
147,249
146,630
144,391
143,875
141,942
141,811
141,439
140,084
139,102138,437
137,014
136,528
135,931
134,779
133,768
133,422
132,694
128,597
128,079
124,084
123,693
119,363
118,330
118,212
117,864
117,683
117,372
114,382
113,465
110,668
110,124
108,363
107,848
107,459
107,284

バンガード®・トータル・ストック・マーケットETF

*,1

*

*

*

Independent Bank
Corp. (XNGS)Home
BancShares Inc.
Chimera Investment
Corp.
Kemper Corp.
First Hawaiian Inc.
Federated
Hermes Inc.
Class B
Eastern
Bankshares Inc.
Investors
Bancorp Inc.
Bank of Hawaii Corp.
Assured Guaranty
Ltd.
Ameris Bancorp
United Community
Banks Inc.
Hamilton Lane Inc.
Class A
Navient Corp.
Virtu Financial Inc.
Class A
Simmons First
National Corp.
Class A
American Equity
Investment Life
Holding Co.
AssociatedBanc-Corp
Marathon Digital
Holdings Inc.
Cathay General
Bancorp
Texas CapitalBancshares Inc.
Piper Sandler Cos.
Old National Bancorp
Axos Financial Inc.
Artisan Partners
AssetManagement Inc.
Class ACNO Financial
Group Inc.
White Mountains
Insurance GroupLtd.
BOK Financial Corp.
FirstCash
Holdings Inc.
Triumph Bancorp Inc.
First Bancorp (XNYS)

SharesMarketValue($000)

1,279,794

104,342

Shares*4,190,065

102,028

6,731,256
1,714,796
3,665,045

101,507
100,813100,166**

2,617,417

98,363

4,781,747

96,4486,349,236
1,141,133

96,191
95,581

1,887,645
1,881,890

94,76093,4922,584,316

92,880895,240
4,342,323

92,765
92,144*,1

3,193,682

92,074*

3,103,579

91,804

2,358,312

91,785

4,058,866

91,6902,771,433

91,0692,088,588

89,7881,440,278
483,168
4,721,695
1,524,050

86,777
86,25085,557
85,2101,765,721

84,1193,508,722

83,64881,371
781,53182,50282,444

1,089,590
678,064
5,853,909

81,51280,74480,667****

Live OakBancshares Inc.
919,156
Mr Cooper
Group Inc.
1,918,280
CVB Financial Corp.
3,663,017
Fulton Financial Corp. 4,593,721
Focus Financial
Partners Inc.
Class A
1,291,491
Enstar Group Ltd.
309,763
Atlantic Union
Bankshares Corp.
2,044,466
Cannae Holdings Inc. 2,155,209
Independent Bank
Group Inc.
1,037,848
Arbor Realty
Trust Inc.
4,086,847
Santander Consumer
USA Holdings Inc.
1,738,846
Columbia Banking
System Inc.
2,230,435
Flagstar Bancorp Inc. 1,492,858
Riot Blockchain Inc.
3,130,662
International
Bancshares Corp.
1,631,611
LendingClub Corp.
2,839,709
WSFS Financial Corp. 1,354,514
First Midwest
Bancorp Inc.
3,249,439
Goosehead
Insurance Inc.
Class A
506,625
PennyMac Financial
Services Inc.
921,384First Merchants Corp. 1,533,512
Cohen & Steers Inc.
685,110Ryan Specialty Group
Holdings Inc.
Class A
1,560,631
First Financial
Bancorp2,550,775
Washington
Federal Inc.
1,857,844
Stewart Information
Services Corp.
763,906
Virtus Investment
Partners Inc.
204,227
Open Lending Corp.
Class A
2,691,725
StepStone Group Inc.
Class A
1,440,674
WesBanco Inc.
1,710,258
PRA Group Inc.
1,184,720
Sandy Spring
Bancorp Inc.
1,233,859
Hilltop Holdings Inc. 1,680,850
Towne Bank
1,859,617－ 39 －

MarketValue($000)
80,23379,82078,42578,093
77,12876,694
76,23875,75674,881
74,87173,066
72,98071,56869,90869,164
68,66467,88866,54965,90264,29464,23963,38062,971
62,18862,01560,906
60,67660,51059,88959,842
59,48559,32459,06558,745

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*

1

*

GenworthFinancial Inc.
Class A
14,438,103
Renasant Corp.
1,508,208
MFA Financial Inc.
12,539,036
Park National Corp.
415,805
Two Harbors
Investment Corp.
9,814,212
Banner Corp.
926,473
Seacoast Banking
Corp. of Florida
1,579,873
BRP Group Inc.
Class A
1,536,370
Lakeland Financial
Corp.
685,895
Heartland Financial
USA Inc.
1,083,893
Argo GroupInternational
Holdings Ltd.
943,733
Customers
Bancorp Inc.
829,452
Rocket Cos. Inc.
Class A3,828,264
Great Western
Bancorp Inc.
1,576,115
NMI Holdings Inc.
Class A
2,440,304
Veritex Holdings Inc. 1,334,578
Eagle Bancorp Inc.
904,631
Apollo Commercial
Real Estate
Finance Inc.
3,973,380
Trustmark Corp.
1,601,426
Meta Financial
Group Inc.
825,250Compass Diversified
Holdings
1,593,700
Northwest
Bancshares Inc.
3,423,252
iStar Inc.
1,875,980
Provident Financial
Services Inc.
1,986,157
Hope Bancorp Inc.
3,255,243
PennyMac Mortgage
Investment Trust
2,755,444
First Bancorp (XNGS) 1,014,431
Enterprise Financial
Services Corp.
978,006
First Interstate
BancSystem Inc.
Class A
1,126,818
Nelnet Inc. Class A
468,564PJT Partners Inc.
Class A
616,117
Horace Mann
Educators Corp.
1,171,060
NBT Bancorp Inc.
1,172,929

MarketValue($000)

Shares*58,474
57,23657,17857,094*,1*,156,62856,20955,91255,47854,96854,856*,1

54,84054,22153,59653,52553,32153,09052,776**52,29051,982
49,234
48,73548,47348,457
48,10547,88547,752
46,38046,05445,82845,76945,64845,32045,181*FB Financial Corp.
1,019,593
PalomarHoldings Inc.
685,031
Lemonade Inc.
1,050,809
Lightwave Logic Inc. 2,936,371
First Commonwealth
Financial Corp.
2,707,427
Stock Yards
Bancorp Inc.
678,700
Redwood Trust Inc.
3,249,083
BGC Partners Inc.
Class A
9,188,420
Capitol Federal
Financial Inc.
3,724,163
B. Riley Financial Inc.
472,236
Mercury GeneralCorp.
787,864
Encore CapitalGroup Inc.
668,173
Westamerica
Bancorp718,604
First Busey Corp.
1,494,322
New York Mortgage
Trust Inc.
10,806,302
EnovaInternational Inc.
974,802
LendingTree Inc.
320,186
ProAssurance Corp.
1,537,853
Ladder Capital Corp. 3,222,288
OFG Bancorp
1,420,708
Southside
Bancshares Inc.
874,150
National Bank
Holdings Corp.
Class A
820,912
OceanFirst Financial
Corp.
1,594,500
Berkshire Hills
Bancorp Inc.
1,238,529
Bancorp Inc.
1,382,276
Safety InsuranceGroup Inc.
405,870
Brookline
Bancorp Inc.
2,101,275
Broadmark Realty
Capital Inc.
3,574,729
S&T Bancorp Inc.
1,066,198
City Holding Co.
409,598
ConnectOne
Bancorp Inc.
1,001,268
BancFirst Corp.
463,100
Premier Financial
Corp.
1,054,389
Federal Agricultural
Mortgage Corp.
Class C262,217
TriCo Bancshares
755,079－ 40 －

MarketValue($000)
44,67944,36944,25043,693
43,56243,35542,85542,72642,19541,96341,80441,50041,48540,52640,19939,92839,25538,90838,63537,73436,55736,07135,39835,211
34,98534,511
34,02033,71033,60733,50132,751
32,67632,59132,49732,438

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*

*

*,1

*

Employers
Holdings Inc.
759,018
Metropolitan Bank
Holding Corp.
287,792
World AcceptanceCorp.
123,784
Dime Community
Bancshares Inc.
862,098
AMERISAFE Inc.
552,756
Tompkins Financial
Corp.
355,647
Banc of California Inc. 1,504,580
Amerant
Bancorp Inc.
Class A
843,985
James River Group
Holdings Ltd.
999,441
HomeStreet Inc.
553,013
TFS Financial Corp.
1,605,671
AllegianceBancshares Inc.
665,894
NicoletBankshares Inc.
324,999
StoneX Group Inc.
450,490
Origin Bancorp Inc.
638,790
Preferred Bank
379,480
Oscar Health Inc.
Class A
3,469,287
First Foundation Inc. 1,087,378
Cowen Inc. Class A
736,215
German American
Bancorp Inc.
681,395
BrightSpire
Capital Inc. Class A 2,573,284
State Auto Financial
Corp.
509,902
Lakeland
Bancorp Inc.
1,371,817
Washington Trust
Bancorp Inc.
460,207
Ready Capital Corp.
1,651,372
Kearny Financial
Corp.
1,928,359
Bryn Mawr Bank
Corp.
566,925
Ellington
Financial Inc.
1,481,380
Brightsphere
Investment
Group Inc.
984,365
ARMOUR Residential
REIT Inc.
2,553,805
Heritage Financial
Corp.
1,016,779
Invesco Mortgage
Capital Inc.
8,865,124
TriState Capital
Holdings Inc.
803,103

MarketValue($000)
31,40830,658*30,38030,31129,755*29,72529,52029,16028,79428,757
28,693
28,107
27,86927,593
27,417
27,243****

27,23427,032
26,577
26,561
26,402
26,357
26,051
25,94225,811
25,551
25,51725,317*25,200*25,05324,85024,64524,302

Univest Financial
Corp.
QCR Holdings Inc.
Peoples Bancorp Inc.
Blucora Inc.
First Bancshares Inc.
Horizon Bancorp Inc.
Columbia
Financial Inc.
TPG RE Finance
Trust Inc.
Central PacificFinancial Corp.
WisdomTree
Investments Inc.
Ambac Financial
Group Inc.
MBIA Inc.
Hanmi Financial
Corp.
SiriusPoint Ltd.
First Mid
Bancshares Inc.
Clearwater Analytics
Holdings Inc.
Class A
HarborOne
Bancorp Inc.
Flushing Financial
Corp.
KKR Real Estate
Finance Trust Inc.
Great Southern
Bancorp Inc.
HCI Group Inc.
Republic
Bancorp Inc.
Class A
Northfield
Bancorp Inc.
Heritage Commerce
Corp.
Community Trust
Bancorp Inc.
Camden National
Corp.
MoneyGram
International Inc.
Hingham Institution
For Savings
CrossFirst
Bankshares Inc.
Granite Point
Mortgage Trust Inc.
Byline Bancorp Inc.
Cambridge Bancorp
TrustCo Bank Corp.

－ 41 －

SharesMarketValue($000)

799,960
421,137
724,102
1,315,554
576,125
1,050,994

23,93523,58423,03422,78522,25021,913

1,046,664

21,833

1,747,225

21,526762,219

21,472

3,504,056

21,445

1,317,492
1,322,743

21,146
20,886867,1222,525,100

20,533
20,529477,568

20,435

883,787

20,3091,367,499

20,294

829,044

20,146

951,886

19,828332,068
233,340

19,675
19,493383,393

19,492

1,206,028

19,4891,597,415

19,073436,138

19,020392,310

18,8942,359,261

18,61543,253

18,161

1,158,387

18,082

1,528,156
644,447
187,772
526,680

17,895
17,626
17,574
17,544

バンガード®・トータル・ストック・マーケットETF

Shares

1

1

*

1

*

*

*

*

*

Diamond Hill
Investment
Group Inc.
87,521
Peapack-Gladstone
Financial Corp.
471,663
United Fire
Group Inc.
714,294
Farmers National
Banc Corp.
892,687
Dynex Capital Inc.
985,744
Bank of Marin
Bancorp434,472
Victory Capital
Holdings Inc.
Class A
440,974
Orchid Island
Capital Inc.
3,480,164
Business First
Bancshares Inc.
549,061
eHealth Inc.
600,680
CBTX Inc.
525,056
UWM Holdings Corp.
Class A2,568,383
Reliant Bancorp Inc.
423,923
Atlantic CapitalBancshares Inc.
515,287
EquityBancshares Inc.
Class A
432,117
Financial
Institutions Inc.
450,618
Independent Bank
Corp.
598,641
Mercantile Bank
Corp.
403,858
Midland States
Bancorp Inc.
564,694
AssetMark Financial
Holdings Inc.
533,665
First Community
Bankshares Inc.
415,227
Metrocity
Bankshares Inc.
499,338
Bank First Corp.
189,999
Universal Insurance
Holdings Inc.
798,817
Merchants Bancorp
285,856
Blue Foundry
Bancorp921,106
Southern First
Bancshares Inc.
215,321First of Long Island
Corp.
622,402
Sculptor CapitalManagement Inc.
Class A
617,684
Franklin BSP Realty
Trust Inc.
878,283

MarketValue($000)

16,999

Shares*

16,697
16,564
16,55916,472*

16,175
16,10915,661
15,544
15,317
15,227
15,20515,049*14,825
1

14,662
14,33014,29014,1471

13,99913,987
13,877*

13,747
13,726
13,58013,53013,476*

13,455
13,43813,18813,122*,1*,1

Waterstone
Financial Inc.
600,218
Coastal Financial
Corp.
257,862
HomeTrustBancshares Inc.
417,531
Mid Penn
Bancorp Inc.
407,174
Oportun Financial
Corp.
636,646
Southern Missouri
Bancorp Inc.
243,725First Financial Corp.
280,502
Arrow Financial Corp.
352,689
West Bancorp Inc.
399,157First Internet
Bancorp263,312
1st Source Corp.
247,039
Regional
Management Corp.
211,580
CNB Financial Corp.
455,730
Bar Harbor
Bankshares
412,183
CarterBankshares Inc.
742,589
RBB Bancorp
435,114
GCM Grosvenor Inc.
Class A
1,068,829
National Western LifeGroup Inc. Class A
52,273
American National
Bankshares Inc.
296,822MVB Financial Corp.
267,198
SmartFinancial Inc.
401,450
Farmers &Merchants
Bancorp Inc.
333,453
Enterprise
Bancorp Inc.
243,685
BridgewaterBancshares Inc.
610,919
Citizens & NorthernCorp.
409,413
Spirit of Texas
Bancshares Inc.
371,555
Sierra Bancorp
393,731
Shore
Bancshares Inc.
509,859
EZCORP Inc. Class A 1,440,775
First Bancorp Inc.
327,356
Capstar Financial
Holdings Inc.
488,695
Primis Financial Corp.
682,667
Alerus Financial Corp.
348,804
Old Second
Bancorp Inc.
798,040
Romeo Power Inc.
2,747,187
Root Inc. Class A
3,207,770－ 42 －

MarketValue($000)
13,121
13,053
12,935
12,924
12,892
12,715
12,704
12,425
12,402
12,386
12,253
12,157
12,077
11,924
11,428
11,400
11,223
11,20911,184
11,094
10,984
10,947
10,946
10,807
10,694
10,693
10,690
10,631
10,61910,27910,277
10,267
10,213
10,047
10,0279,944

バンガード®・トータル・ストック・マーケットETF

Shares

*

1

*

*

*

1

*

Oppenheimer
Holdings Inc.
Class A
CivistaBancshares Inc.
Capital City Bank
Group Inc.
Peoples Financial
Services Corp.
MidWestOne
Financial Group Inc.
Guaranty
Bancshares Inc.
Curo Group Holdings
Corp.
Summit Financial
Group Inc.
Howard Bancorp Inc.
Five Star Bancorp
Home Bancorp Inc.
Blue Ridge
Bankshares Inc.
Tiptree Inc. Class A
South Plains
Financial Inc.
Ocwen Financial
Corp.
Citizens Inc. Class A
AFC Gamma Inc.
Provident
Bancorp Inc.
Great Ajax Corp.
P10 Inc. Class A
Orrstown Financial
Services Inc.
Northrim
Bancorp Inc.
Red RiverBancshares Inc.
PCSB Financial Corp.
Investors Title Co.
FS Bancorp Inc.
First Bank
Northeast BankACNB Corp.
Independence
Holding Co.
Marlin Business
Services Corp.
PCB Bancorp
Macatawa Bank
Corp.
GoHealth Inc.
Class A
1st Constitution
Bancorp
AmalgamatedFinancial Corp.

MarketValue($000)

213,2179,887

398,946

9,734

359,714

9,496

179,285

9,447

286,575

9,276

245,483

9,225

575,636

9,216

330,919
413,346
293,908
205,685

9,084
9,007
8,817
8,538

456,364
590,045

8,169
8,160

292,506

8,135

201,053
1,512,237
351,716

8,036
8,030
8,005

429,658
606,670
568,705

7,992
7,984
7,950

307,627

7,752

176,916

7,689

141,840
391,041
37,598219,893503,770
203,338
230,161

7,588
7,445
7,412
7,395
7,310
7,265
7,199

125,453

7,111

304,596317,360

7,091
6,969

784,729

6,921

Shares

1

*

*

*

*

*

*

*,1

1,801,058

6,826

263,3856,766

399,627

6,702*

First Business
Financial
Services Inc.
228,040BCB Bancorp Inc.
430,285LCNB Corp.
335,339
Meridian Corp.
177,937
Fidelity D&D
Bancorp Inc.
110,302
Bankwell Financial
Group Inc.
195,386
Professional Holding
Corp. Class A
330,335
AG Mortgage
Investment
Trust Inc.
615,108
National
Bankshares Inc.
173,594
Capital Bancorp Inc.
238,721
Parke Bancorp Inc.
290,867
HBT Financial Inc.
330,067
Donegal Group Inc.
Class A
429,838
Community Financial
Corp.
155,233
Timberland
Bancorp Inc.
219,929
FVCBankcorp Inc.
305,180
Richmond Mutual
Bancorp Inc.
362,105
Central Valley
Community
Bancorp277,797
Esquire Financial
Holdings Inc.
181,815
Territorial
Bancorp Inc.
226,146
Codorus Valley
Bancorp Inc.
262,970
Unity Bancorp Inc.
216,027
OP Bancorp
444,270
Ames National Corp.
229,764
Maiden Holdings Ltd. 1,833,912
Crawford & Co.
Class B
746,601
Level One
Bancorp Inc.
139,890
BayCom Corp.
288,027
Greenhill & Co. Inc.
299,465
Evans Bancorp Inc.
133,161
Colony Bankcorp Inc.
311,012
Consumer Portfolio
Services Inc.
445,159
Hagerty Inc. Class A
363,800
MainStreet
Bancshares Inc.
208,509
Norwood Financial
Corp.
197,002－ 43 －

MarketValue($000)

6,652
6,639
6,549
6,543
6,508
6,416
6,329
6,305
6,295
6,254
6,190
6,182
6,142
6,102
6,092
6,046
5,834
5,770
5,749
5,710
5,680
5,671
5,669
5,627
5,612
5,592
5,517
5,403
5,369
5,366
5,309
5,275
5,159
5,127
5,120

バンガード®・トータル・ストック・マーケットETF

Shares

*

*
*

*

*,1

*
*

*

*

1

1

ChoiceOne Financial
Services Inc.
192,470
MetroMile Inc.
2,327,223
C&F Financial Corp.
99,227
NI Holdings Inc.
266,088
Greenlight Capital Re
Ltd. Class A
636,481First Western
Financial Inc.
163,419
Sachem Capital Corp.
847,514
Investar Holding
Corp.
262,066
Western New
EnglandBancorp Inc.
541,360
Sunlight Financial
Holdings Inc.
984,228
Bank of Princeton
159,711
Pzena Investment
Management Inc.
Class A
493,761
Riverview
Bancorp Inc.
608,040
Doma Holdings Inc.
918,684
Republic First
Bancorp Inc.
1,250,257
William Penn
Bancorp375,356
Virginia National
Bankshares Corp.
122,415
Plumas Bancorp
133,540
Chemung Financial
Corp.
98,140Trean InsuranceGroup Inc.
501,844ESSA Bancorp Inc.
253,876First Savings
Financial Group Inc.
165,222
Pioneer Bancorp Inc.
382,436
Penns Woods
Bancorp Inc.
183,161
Silvercrest AssetManagement
Group Inc. Class A
247,747FNCB Bancorp Inc.
465,590
Eagle Bancorp
Montana Inc.
184,128First Northwest
Bancorp
209,090
Federal Agricultural
Mortgage Corp.
Class A
35,555Cherry Hill Mortgage
Investment Corp.
510,083
Luther Burbank Corp.
294,907
Heritage Insurance
Holdings Inc.
698,957

MarketValue($000)
5,099
5,097
5,079
5,032

Shares

*
1

4,990
4,961
4,949

*

4,825
4,742
4,705
4,684
4,676

1

4,676
4,667
4,651
*

4,534
4,529
4,512
4,493
4,471
4,400
4,362
4,329

*,1

*

4,317
1

4,254
4,242
*

4,231
4,230

*

4,221

*

4,218
4,140

*,1

4,110
1

First Community
Corp.
186,158
Franklin Financial
Services Corp.
117,076
California Bancorp
192,397
First National Corp.
167,836
HawthornBancshares Inc.
147,849
First Capital Inc.
95,554
Medallion Financial
Corp.
650,658
Westwood HoldingsGroup Inc.
222,721First Financial
Northwest Inc.
223,305
Citizens Community
Bancorp Inc.
260,601
SB Financial
Group Inc.
183,208
First United Corp.
188,149
Angel Oak
Mortgage Inc.
216,030
Manning &Napier Inc. Class A
421,693
Nexpoint Real Estate
Finance Inc.
177,897
Arlington Asset
Investment Corp.
Class A
964,778
Western Asset
Mortgage CapitalCorp.
1,575,362
BankFinancial Corp.
308,169
Seven Hills Realty
Trust
315,585
MarketWise Inc.
433,550
Greene County
Bancorp Inc.
88,584
HMN Financial Inc.
133,193
CB Financial
Services Inc.
132,867
Ellington Residential
Mortgage REIT
304,308
First Guaranty
Bancshares Inc.
155,128
Malvern Bancorp Inc.
201,577
Peoples Bancorp ofNorth Carolina Inc.
113,193
Velocity Financial Inc.
225,504
Salisbury
Bancorp Inc.
58,032
ACRES Commercial
Realty Corp.
245,355
Bakkt Holdings Inc.
356,200
GAMCO
Investors Inc.
Class A
121,104
Partners Bancorp
305,021－ 44 －

MarketValue($000)
3,865
3,863
3,856
3,835
3,819
3,817
3,774
3,773
3,611
3,588
3,567
3,550
3,539
3,504
3,425
3,377
3,324
3,288
3,276
3,269
3,255
3,247
3,202
3,162
3,162
3,159
3,123
3,089
3,069
3,060
3,031
3,025
2,983

バンガード®・トータル・ストック・マーケットETF

Shares

*,1
*

*,1

*

*

*

*

1

*

*

*

*

*
*

*

*

Provident Financial
Holdings Inc.
178,916
BM Technologies Inc.
313,589
PDL Community
Bancorp
196,447
Finance of America
Cos. Inc. Class A
716,866
Hippo Holdings Inc.
1,005,399
Ohio Valley Banc
Corp.
97,749Lument Finance
Trust Inc.
736,731
Guild Holdings Co.
Class A
200,200
Middlefield Banc
Corp.
111,453
Summit State Bank
181,958
Safeguard
Scientifics Inc.
370,901
United Insurance
Holdings Corp.
605,363
United Security
Bancshares
322,421
loanDepot Inc.
Class A
538,648
Security National
Financial Corp.
Class A
279,866
SWK Holdings Corp.
128,875
Bank7 Corp.
109,773
Landmark
Bancorp Inc.
88,296
Union
Bankshares Inc.
85,053
Oak Valley Bancorp
141,787
Elevate Credit Inc.
793,543
Prudential
Bancorp Inc.
169,608
Sterling Bancorp Inc.
370,819
IF Bancorp Inc.
85,645
Associated CapitalGroup Inc. Class A
48,920
Northeast
Community
Bancorp Inc.
188,155
Hallmark Financial
Services Inc.
480,443
Broadway Financial
Corp.
896,664
Catalyst Bancorp Inc.
151,200
TC Bancshares Inc.
151,263
Randolph
Bancorp Inc.
84,355Heritage Global Inc.
1,010,347
Auburn National
Bancorp Inc.
59,246
NicholasFinancial Inc.
155,984

MarketValue($000)
1

2,961
2,888

1

2,876

1

2,846
2,845

*

2,840
*,1

2,829
2,809

1

2,766
2,742

*
*

2,726
2,627
*

2,618
*

2,586
2,575
2,530
2,525

*

*

2,516
*,1

2,472
2,467
2,357
2,303
2,132
2,127

*

*

2,104
2,094
2,090
2,071
2,067
2,025

*
*

*,1

2,014
1,879

*
*

1,878

*,1

1,839

*,1

Citizens Holding Co.
US Global
Investors Inc.
Class A
Cullman Bancorp Inc.
Sound Financial
Bancorp Inc.
Kingsway Financial
Services Inc.
CF Bankshares Inc.
OppFi Inc.
Bank of South
Carolina Corp.
Hennessy
Advisors Inc.
Great Elm Group Inc.
Limestone
Bancorp Inc.
Elmira Savings Bank
Manhattan Bridge
Capital Inc.
LM Funding
America Inc.
Midwest Holding Inc.
Bogota Financial
Corp.
AmeriServ
Financial Inc.
USCB Financial
Holdings Inc.
UnitedBancshares Inc.
Reliance Global
Group Inc.
Rhinebeck
Bancorp Inc.
Kingstone Cos. Inc.
First USBancshares Inc.
Ashford Inc.
Southern States
Bancshares Inc.
Community West
Bancshares
Emclaire Financial
Corp.
Generations Bancorp
NY Inc.
FFBW Inc.
Oxbridge Re
Holdings Ltd.
Patriot National
Bancorp Inc.
Carver Bancorp Inc.
FedNat Holding Co.
Biorestorative
Therapies Inc.
SurgePays Inc.

－ 45 －

SharesMarketValue($000)

97,134

1,821

413,658
141,227

1,820
1,761

39,0571,718

311,150
74,586342,288

1,705
1,556
1,554

74,261

1,498

136,198
700,231

1,479
1,463

77,944
61,402

1,454
1,404

253,648

1,395

286,075
79,299

1,390
1,380

133,526

1,359

345,360

1,333

90,2081,301

36,068

1,100

159,588

1,028

95,620202,353

1,022
1,012

91,84356,551972
942

44,692879

61,904823

28,051

811

67,22566,391

801
779

132,133

743

47,07885,301
439,008

732
728
619

138,454
290,433591
587

バンガード®・トータル・ストック・マーケットETF

*

*

*

*,2

*

*,1,2
*

*

*

*

*

*
*

*,2

*,1,2

Affinity
Bancshares Inc.
Mid-Southern
Bancorp Inc.
NeuroOne Medical
Technologies Corp.
Lake Shore
Bancorp Inc.
Pathfinder
Bancorp Inc.
HV Bancorp Inc.
Old Point Financial
Corp.
Oconee Federal
Financial Corp.
Altisource AssetManagement Corp.
Impac Mortgage
Holdings Inc.
Contran Corp. CVR
OptimumBank
Holdings Inc.
1895 Bancorp of
Wisconsin Inc.
Finwise Bancorp
Kentucky First
Federal Bancorp
FG Financial
Group Inc.
PB Bankshares Inc.
Atlantic American
Corp.
First Seacoast
Bancorp
Village Bank & Trust
Financial Corp.
Vericity Inc.
Cincinnati
Bancorp Inc.
Frontier Financial
Corp.
CogentBiosciences Inc.
CVR

SharesMarketValue($000)

35,206542

29,996450

209,321406

25,679387

22,868
14,687387
326

12,849293

13,031284

15,386275

244,016
204,224271
196

48,881

194

15,643
12,287

171
169

21,331

160

34,257
8,966

127
122

36,081

88

6,207

66

1,124
1,036

64
7

400

6

1

—

400,874—

Shares

*

*
*

*

*

*
*

*

*
*
*

*

*

*

*

148,961,770
Health Care (12.7%)
UnitedHealthGroup Inc.
26,768,259
Johnson & Johnson 74,819,509
Pfizer Inc.
159,524,035
Thermo Fisher
Scientific Inc.
11,199,012
Abbott Laboratories 50,255,433
AbbVie Inc.
50,244,447
Eli Lilly & Co.
24,468,610
Danaher Corp.
18,278,949
Merck & Co. Inc.
71,790,103

13,441,414
12,799,373
9,419,894
7,472,429
7,072,950
6,803,098
6,758,719
6,013,957
5,501,993

*

*
*

*

Medtronic plc
38,220,866
Bristol-Myers Squibb
Co.
63,083,990
Intuitive Surgical Inc. 10,152,895
Amgen Inc.
16,008,641
Zoetis Inc.
13,446,588
Anthem Inc.
6,898,478
Gilead Sciences Inc. 35,651,267
Stryker Corp.
9,648,803
Moderna Inc.
9,794,908
Edwards
Lifesciences Corp. 17,744,202
Cigna Corp.
9,419,683
Becton Dickinson &Co.
8,071,982
RegeneronPharmaceuticals Inc. 2,854,570
Boston ScientificCorp.
40,504,440
HCA Healthcare Inc. 6,630,009
Humana Inc.
3,652,714
Illumina Inc.
4,442,272
VertexPharmaceuticals Inc. 7,226,375
IDEXX
Laboratories Inc.
2,409,891
IQVIA Holdings Inc.
5,429,446
Dexcom Inc.
2,754,702
Align Technology Inc. 2,129,039
Agilent
Technologies Inc.
8,582,701
Centene Corp.
16,580,507
BaxterInternational Inc.
14,225,159
ResMed Inc.
4,141,480
Veeva Systems Inc.
Class A
3,940,625
Biogen Inc.
4,175,182
West Pharmaceutical
Services Inc.
2,106,040
Laboratory Corp. of
America Holdings
2,720,118
Cerner Corp.
8,361,825
Zimmer Biomet
Holdings Inc.
5,936,467
PerkinElmer Inc.
3,586,790
Horizon Therapeutics
plc
6,446,904
STERIS plc
2,842,718
Catalent Inc.
4,865,719
Avantor Inc.
14,723,330
Quest
Diagnostics Inc.
3,486,815
Seagen Inc.
3,898,257
Cooper Cos. Inc.
1,401,141
Bio-Techne Corp.
1,116,839－ 46 －

MarketValue($000)
3,953,949
3,933,287
3,647,935
3,601,464
3,281,371
3,197,720
2,588,638
2,580,283
2,487,711
2,298,761
2,163,042
2,029,942
1,802,718
1,720,629
1,703,382
1,694,348
1,690,018
1,586,912
1,586,817
1,531,864
1,479,137
1,399,162
1,370,228
1,366,234
1,221,088
1,078,773
1,006,751
1,001,710
987,754854,688776,563754,169
721,160
694,718
691,946
622,958
620,441
603,254602,671586,994
577,785

バンガード®・トータル・ストック・マーケットETF

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*,1
*
*
*
*

*
*

*

*

*
*
*

*

Alnylam
Pharmaceuticals Inc. 3,399,367
Hologic Inc.
7,145,088
Charles River
Laboratories
International Inc.
1,433,990
MolinaHealthcare Inc.
1,660,183
Insulet Corp.
1,959,851
Viatris Inc.
34,371,955
BioMarin
Pharmaceutical Inc. 5,215,202
Bio-RadLaboratories Inc.
Class A
599,873
ABIOMED Inc.
1,228,522
Teleflex Inc.
1,331,492
Masimo Corp.
1,411,792
Cardinal Health Inc.
8,009,929
Repligen Corp.
1,492,969
Incyte Corp.
5,333,840
Exact Sciences Corp. 4,902,670
Teladoc Health Inc.
4,095,311
Royalty Pharma plc
Class A
9,156,554
Elanco Animal
Health Inc.
12,763,516
10X Genomics Inc.
Class A
2,342,973
DENTSPLY
SIRONA Inc.
6,212,630
Novavax Inc.
2,148,956
Henry Schein Inc.
3,942,001
Syneos Health Inc.
2,947,171
Penumbra Inc.
1,008,835
United Therapeutics
Corp.
1,279,182
Guardant Health Inc. 2,743,948
Tandem Diabetes
Care Inc.
1,806,113
Universal HealthServices Inc.
Class B
1,974,970
Tenet HealthcareCorp.
3,044,017
Bruker Corp.
2,802,014
Chemed Corp.
437,696
Neurocrine
Biosciences Inc.
2,696,301
Natera Inc.
2,420,309
Omnicell Inc.
1,248,903
Intellia
Therapeutics Inc.
1,903,875
Organon & Co.
7,206,723
Sarepta
Therapeutics Inc.
2,352,043

MarketValue($000)

Shares*576,465
547,028**

540,299*

528,071
521,458
465,053**

460,763*453,246441,248437,368
413,344
412,431395,398
391,504
381,575
376,031364,889362,229
349,009346,603
307,451
305,623
302,616
289,858
276,406
274,450
271,856
256,075
248,666
235,117
231,559
229,644
226,033
225,352
225,114
219,445
211,801

*

*

*

*
*

*

*

*

*

*

*
*

*
*
*

*

*

*
*

*
*

*

*
*

Jazz Pharmaceuticals
plc
1,660,120
Mirati
Therapeutics Inc.
1,411,972
Envista Holdings
Corp.
4,581,866
DaVita Inc.
1,738,349
Novocure Ltd.
2,511,869
ArrowheadPharmaceuticals Inc. 2,822,433
Encompass HealthCorp.
2,829,082
Blueprint MedicinesCorp.
1,675,544
Medpace
Holdings Inc.
817,389
Shockwave
Medical Inc.
953,732
Inspire Medical
Systems Inc.
737,273
Exelixis Inc.
8,985,133
Globus Medical Inc.
Class A2,246,780
Arena
Pharmaceuticals Inc. 1,744,074
Halozyme
Therapeutics Inc.
4,002,223
Acadia Healthcare
Co. Inc.
2,557,583
Ultragenyx
Pharmaceutical Inc. 1,840,757
Amedisys Inc.
927,003
Perrigo Co. plc
3,803,940
Neogen Corp.
3,064,508
Integra LifeSciences
Holdings Corp.
2,046,589
agilon health Inc.
5,036,543
ICU Medical Inc.
572,034
Quidel Corp.
1,004,871
Premier Inc. Class A 3,292,523
Fate
Therapeutics Inc.
2,308,055
Maravai LifeSciences
Holdings Inc.
Class A
3,176,722
Ensign Group Inc.
1,488,761
STAAR Surgical Co.
1,353,927
Pacific Biosciencesof California Inc.
5,957,447
CONMED Corp.
832,025
LHC Group Inc.
855,811
Option Care
Health Inc.
4,092,536
Beam
Therapeutics Inc.
1,452,853
NeoGenomics Inc.
3,333,311
ApellisPharmaceuticals Inc. 2,351,153－ 47 －

MarketValue($000)
211,499
207,122
206,459
197,755
188,591
187,127
184,626
179,468
177,897
170,079
169,617
164,248
162,218
162,094
160,929
155,245
154,789
150,063
147,973
139,159
137,101
135,987
135,767
135,648
135,553
135,044
133,105
124,996
123,614
121,889
117,948
117,443
116,392
115,778
113,733
111,163バンガード®・トータル・ストック・マーケットETF

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*

Intra-Cellular
Therapies Inc.
2,085,681
Denali
Therapeutics Inc.
2,430,567
Alkermes plc
4,608,352
HealthEquity Inc.
2,383,726
Ionis
Pharmaceuticals Inc. 3,414,345
Cytokinetics Inc.
2,269,512
Oak Street
Health Inc.
3,073,379
Adaptive
Biotechnologies
Corp.
3,609,655
R1 RCM Inc.
3,938,522
Arvinas Inc.
1,203,052
Twist BioscienceCorp.
1,270,246
Progyny Inc.
1,930,234
Merit Medical
Systems Inc.
1,521,467
iRhythm
Technologies Inc.
797,916
Vir Biotechnology Inc. 2,236,431
Invitae Corp.
6,115,832
Insmed Inc.
3,366,988
Amicus
Therapeutics Inc.
7,927,222
Select Medical
Holdings Corp.
3,052,965
Owens & Minor Inc. 2,043,366
AtriCure Inc.
1,244,382
Prestige Consumer
Healthcare Inc.
1,425,649
Inari Medical Inc.
927,613
Veracyte Inc.
2,025,188
KarunaTherapeutics Inc.
632,472
Certara Inc.
2,914,923
Zentalis
Pharmaceuticals Inc. 966,857
Warby Parker Inc.
Class A
1,739,487
Integer Holdings
Corp.
939,613ACADIA
Pharmaceuticals Inc. 3,430,223
PTC Therapeutics Inc. 2,009,126
Haemonetics Corp.
1,453,213
NuVasive Inc.
1,466,506
1Life Healthcare Inc. 4,343,665
Nevro Corp.
939,258
Apollo Medical
Holdings Inc.
1,029,745
Kodiak Sciences Inc.
883,572
Patterson Cos. Inc.
2,491,598

MarketValue($000)

Shares*109,165*

108,403
107,190
105,456*

103,899
103,444*

101,852***

101,287
100,393
98,819**,1*

98,304
97,187**,1*

94,787**

93,907
93,63993,38991,717***91,559*89,75788,88686,522****

86,466
84,66383,43882,854
82,842****

81,274*80,991*,1*

80,421*80,06180,02377,07876,962
76,31876,146

*
*
*

*

*

75,66674,90973,128*,1*

Iovance
Biotherapeutics Inc. 3,795,805
PaciraBioSciences Inc.
1,203,762
Ortho Clinical
Diagnostics
Holdings plc
3,365,328
BioCryst
Pharmaceuticals Inc. 5,110,953
Nektar Therapeutics 5,234,921
LigandPharmaceuticals Inc. 451,729
TG Therapeutics Inc. 3,650,851
CareDx Inc.
1,493,017
GoodRx Holdings Inc.
Class A
2,065,809
Xencor Inc.
1,666,026
Sotera Health Co.
2,818,547
Doximity Inc. Class A 1,314,487
Magellan Health Inc.
669,987
MEDNAX Inc.
2,338,065
Evolent Health Inc.
Class A
2,285,839
Surgery Partners Inc. 1,142,352
Sage
Therapeutics Inc.
1,424,394
Emergent
BioSolutions Inc.
1,375,829
Myriad Genetics Inc. 2,159,798
Axonics Inc.
1,054,121Outset Medical Inc.
1,271,081
ChemoCentryx Inc.
1,591,997
CorVel Corp.
277,154
Arcus
Biosciences Inc.
1,398,867
Relay
Therapeutics Inc.
1,843,411
SpringWorks
Therapeutics Inc.
910,187
Glaukos Corp.
1,260,158
KymeraTherapeutics Inc.
875,821
Fulgent Genetics Inc.
550,823
NanoString
Technologies Inc.
1,299,621
Codexis Inc.
1,750,892
Phreesia Inc.
1,310,009
IVERIC bio Inc.
3,257,842
TravereTherapeutics Inc.
1,740,106
Turning Point
Therapeutics Inc.
1,126,183
Global Blood
Therapeutics Inc.
1,831,287
Corcept
Therapeutics Inc.
2,701,452
ModivCare Inc.
358,575－ 48 －

MarketValue($000)
72,462
72,43071,98470,78770,724
69,77469,366
67,902
67,511
66,841
66,37765,89563,642
63,61963,24961,01360,59459,80759,61059,03158,58457,96557,64856,612
56,611
56,41356,00155,60655,40754,88354,75054,57554,47154,01353,71953,60253,48953,173

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

*

*

*

*

Heska Corp.
290,734
Lantheus
Holdings Inc.
1,818,068
Vericel Corp.
1,328,158
Editas Medicine Inc. 1,946,698
Celldex
Therapeutics Inc.
1,328,884
OPKO Health Inc.
10,656,268
Avid Bioservices Inc. 1,743,331
Agios
Pharmaceuticals Inc. 1,547,236
AdaptHealth Corp.
Class A
2,065,568
REVOLUTION
Medicines Inc.
1,995,057
Health Catalyst Inc.
1,257,138
Bridgebio
Pharma Inc.
2,928,886
Avanos Medical Inc. 1,370,836
Cerevel Therapeutics
Holdings Inc.
1,464,021
Community Health
Systems Inc.
3,550,509
Cassava
Sciences Inc.
1,075,531
Ironwood
Pharmaceuticals Inc.
Class A
3,940,451
Dynavax Technologies
Corp.
3,237,203
ImmunoGen Inc.
6,076,817
Multiplan Corp.
9,973,519
Addus HomeCareCorp.
453,076
Ginkgo Bioworks
Holdings Inc.
5,065,389
BioLife Solutions Inc. 1,124,220
Supernus
Pharmaceuticals Inc. 1,434,233
Protagonist
Therapeutics Inc.
1,209,862
Accolade Inc.
1,517,821
Quanterix Corp.
938,819
Krystal Biotech Inc.
564,988
RadNet Inc.
1,295,210
EnantaPharmaceuticals Inc.
520,311
Sorrento
Therapeutics Inc.
8,297,730
Silk Road
Medical Inc.
892,722
C4 Therapeutics Inc.
1,174,714
Healthcare Services
Group Inc.
2,119,214
Atara
Biotherapeutics Inc. 2,388,794
Sana
Biotechnology Inc.
2,400,453

MarketValue($000)

Shares53,056*,1

52,52452,197
51,685**,1

51,34851,25750,87050,858****50,524*50,21649,808*48,85447,527*47,464*47,257**47,001*45,946

*,1

*

*,1

45,54745,09044,183*42,367*42,093
41,900***,1

41,822*

41,37740,01039,80639,521
38,99938,90938,58438,03937,82637,70137,647

*

*,1

*

*,1
*
*

*,1
*

*

Anavex Life SciencesCorp.
2,059,527
Varex Imaging Corp. 1,122,895
US Physical
Therapy Inc.
368,295
Recursion
Pharmaceuticals Inc.
Class A
2,039,616
REGENXBIO Inc.
1,026,682
Alector Inc.
1,616,312
FibroGen Inc.
2,361,024
Coherus
Biosciences Inc.
2,074,055
Nurix
Therapeutics Inc.
1,138,158
Prometheus
Biosciences Inc.
829,736
Crinetics
Pharmaceuticals Inc. 1,145,049
Cano Health Inc.
3,591,651
Harmony
Biosciences
Holdings Inc.
747,810
Tivity Health Inc.
1,205,505
Revance
Therapeutics Inc.
1,951,068
Cerus Corp.
4,614,621
Seer Inc. Class A
1,377,013
Clover HealthInvestments Corp.
Class A
8,424,736
Privia HealthGroup Inc.
1,208,353
American Well Corp.
Class A
5,173,369
Innoviva Inc.
1,780,193
Inhibrx Inc.
700,947
Senseonics
Holdings Inc.
11,403,178
AxsomeTherapeutics Inc.
801,063
Allogene
Therapeutics Inc.
2,017,623
InovioPharmaceuticals Inc. 6,018,028
Alignment
Healthcare Inc.
2,121,699
MannKind Corp.
6,808,119
Morphic Holding Inc.
625,804
SyndaxPharmaceuticals Inc. 1,344,301
Nuvation Bio Inc.
3,403,381
Madrigal
Pharmaceuticals Inc. 340,736
AngioDynamics Inc. 1,045,325
LeMaitre
Vascular Inc.
565,478

37,159－ 49 －

MarketValue($000)
35,71235,42735,191
34,93933,57233,37733,29033,102
32,95032,80832,531
32,002
31,88731,874
31,841
31,426
31,41031,34031,26031,24730,70830,61030,44630,26430,10330,03029,83129,751
29,651
29,42728,92928,874
28,83028,404

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

*
*

*

*
*
*

RocketPharmaceuticals Inc. 1,289,887
iTeos
Therapeutics Inc.
601,357
NextGenHealthcare Inc.
1,554,908
Butterfly
Network Inc.
4,127,533
Joint Corp.
410,254
Brookdale Senior
Living Inc.
5,222,431
Atrion Corp.
37,874
OptimizeRx Corp.
429,263
MacroGenics Inc.
1,654,155
CastleBiosciences Inc.
619,225
ViewRay Inc.
4,769,153
Heron
Therapeutics Inc.
2,877,718
Berkeley Lights Inc.
1,438,830
Zogenix Inc.
1,602,566
MaxCyte Inc.
2,549,425
Ocugen Inc.
5,601,885
Avidity
Biosciences Inc.
1,066,450
Instil Bio Inc.
1,465,384
Kura Oncology Inc.
1,787,387
Intersect ENT Inc.
912,624
Sangamo
Therapeutics Inc.
3,317,213
Meridian
Bioscience Inc.
1,218,909
RAPT
Therapeutics Inc.
672,140
AclarisTherapeutics Inc.
1,679,868
National HealthCareCorp.
354,161
Amphastar
Pharmaceuticals Inc. 1,031,005
Arcturus Therapeutics
Holdings Inc.
644,043
Keros
Therapeutics Inc.
406,191
Hims & Hers
Health Inc.
3,614,268
Endo International plc 6,284,824
BionanoGenomics Inc.
7,879,312
Pulmonx Corp.
732,933
Replimune
Group Inc.
865,293
Vanda
Pharmaceuticals Inc. 1,492,124
Vaxcyte Inc.
980,079
OrthoPediatrics Corp.
387,103
Natus Medical Inc.
975,293

MarketValue($000)

Shares*28,15827,999*27,662**,1

27,613
26,95026,94826,697
26,662
26,54926,54626,278

*
*
*,1
*

*
*

*

26,274
26,15826,042
25,97925,489*25,35025,07325,02324,924

*

*

*
*

*

*,1

24,87924,866*

24,688*24,425***24,062*24,012**

23,836*23,766*

23,67323,631**

23,55923,50523,449***23,411
23,31623,172
23,144***

Triple-S Management
Corp. Class B
640,323
National ResearchCorp.
545,812
Inotiv Inc.
533,245
CryoLife Inc.
1,076,564
Vaxart Inc.
3,399,097
Agiliti Inc.
913,771
Agenus Inc.
6,571,688
Gritstone bio Inc.
1,642,659
Cardiovascular
Systems Inc.
1,110,009
Inogen Inc.
605,155
Praxis Precision
Medicines Inc.
1,027,741
Reata
Pharmaceuticals Inc.
Class A
762,202
Bluebird Bio Inc.
2,009,410
Scholar Rock Holding
Corp.
806,635
Gossamer Bio Inc.
1,770,683
Kezar Life
Sciences Inc.
1,193,981
Alphatec
Holdings Inc.
1,704,060
PMV
Pharmaceuticals Inc. 838,847
Day OneBiopharmaceuticals
Inc.
1,144,558
Definitive Healthcare
Corp. Class A
702,947
SI-BONE Inc.
862,337
HealthStream Inc.
721,647
AnaptysBio Inc.
546,451
Cutera Inc.
455,291
Theravance
Biopharma Inc.
1,702,049
Hanger Inc.
1,030,939
Catalyst
Pharmaceuticals Inc. 2,741,908
IdeayaBiosciences Inc.
776,655
Apria Inc.
555,583
OraSureTechnologies Inc.
2,069,155
Arcutis
Biotherapeutics Inc.
842,760
Collegium
Pharmaceutical Inc.
933,947
Surmodics Inc.
359,290
2seventy bio Inc.
667,203PetIQ Inc. Class A
751,753
Orthofix Medical Inc.
546,188
RelmadaTherapeutics Inc.
747,531－ 50 －

MarketValue($000)
22,847
22,662
22,434
21,90821,312
21,163
21,161
21,125
20,846
20,575
20,24620,09920,074
20,03720,026
19,963
19,477
19,377
19,286
19,212
19,152
19,023
18,98918,81318,80818,691
18,56318,36018,112
17,981
17,47917,446
17,30017,10017,072
16,981
16,842

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*

*
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*

*,1
*

*

*
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*

*

*,1

*

*
*

*

*
*

*
*

*

*
*

*

*

*,1
*,1
*,1

*

*

Organogenesis
Holdings Inc.
Class A
1,822,227
ANI
Pharmaceuticals Inc. 362,290
AmnealPharmaceuticals Inc. 3,483,678
Pennant Group Inc.
716,355
Antares Pharma Inc. 4,597,597
Y-mAbs
Therapeutics Inc.
1,012,266
Adicet Bio Inc.
921,110
Atea
Pharmaceuticals Inc. 1,771,846
NGM
Biopharmaceuticals
Inc.
884,464
Sutro Biopharma Inc. 1,047,202
Eagle
Pharmaceuticals Inc.
305,010
Ocular
Therapeutix Inc.
2,180,451
Seres
Therapeutics Inc.
1,817,614
Chinook
Therapeutics Inc.
925,097
Verve
Therapeutics Inc.
408,759
Cara
Therapeutics Inc.
1,217,825
BioAtla Inc.
754,265
4D Molecular
Therapeutics Inc.
673,332
Bioventus Inc.
Class A
1,014,433
Personalis Inc.
1,020,303
Anika
Therapeutics Inc.
403,039
Chimerix Inc.
2,225,657
Fulcrum
Therapeutics Inc.
807,395
Treace Medical
Concepts Inc.
756,312
Kronos Bio Inc.
1,024,841
Stoke
Therapeutics Inc.
577,128
Akero
Therapeutics Inc.
646,709
UFP
Technologies Inc.
193,826
ImmunityBio Inc.
2,231,847
MiMedx Group Inc.
2,246,582
DesignTherapeutics Inc.
633,295
RhythmPharmaceuticals Inc. 1,356,727
ORIC
Pharmaceuticals Inc. 912,634

MarketValue($000)

Shares**

16,837*

16,694*

16,687
16,533
16,413**

16,40916,11015,840*,1**

15,664
15,582**

15,531*

15,198*15,141*

15,088*15,071*

14,83314,806*

14,773*,1*,1

14,69914,560**14,441
14,311*

14,283*14,09813,928**

13,845*

13,678*,1

13,618
13,57013,569***13,55913,540***,1

13,416*,1

Albireo Pharma Inc.
565,251
SeaSpine Holdings
Corp.
961,674
TransMedics
Group Inc.
671,310
Forma Therapeutics
Holdings Inc.
898,654
Phathom
Pharmaceuticals Inc. 640,958
Rigel
Pharmaceuticals Inc. 4,729,555
Rubius
Therapeutics Inc.
1,273,947
Apyx Medical Corp.
945,007
Mersana
Therapeutics Inc.
1,935,742
Computer Programs& Systems Inc.
407,736
Karyopharm
Therapeutics Inc.
1,844,372
Accuray Inc.
2,481,415
Marinus
Pharmaceuticals Inc. 994,957
Edgewise
Therapeutics Inc.
771,050
Curis Inc.
2,465,760
Phibro Animal HealthCorp. Class A
574,011
TalarisTherapeutics Inc.
764,850
Viridian
Therapeutics Inc.
587,442
Athira Pharma Inc.
888,962
Cullinan
Oncology Inc.
749,484
Semler Scientific Inc.
125,100
BioxcelTherapeutics Inc.
558,433
KinnateBiopharma Inc.
637,863
Deciphera
Pharmaceuticals Inc. 1,154,365
AkebiaTherapeutics Inc.
4,988,610
908 Devices Inc.
433,283
Foghorn
Therapeutics Inc.
484,050
Intercept
Pharmaceuticals Inc. 673,695
ALX Oncology
Holdings Inc.
510,327
Precigen Inc.
2,943,674
Geron Corp.
8,897,946
Spero
Therapeutics Inc.
677,888
Allovir Inc.
834,467
Aadi Bioscience Inc.
445,926
Omeros Corp.
1,670,488－ 51 －

MarketValue($000)
13,165
13,09812,862
12,77912,60812,533
12,332
12,115
12,04011,947
11,85911,836
11,82011,782
11,737
11,721
11,695
11,614
11,583
11,565
11,465
11,353
11,303
11,278
11,274
11,20911,07010,974
10,967
10,921
10,855
10,853
10,798
10,76910,741

バンガード®・トータル・ストック・マーケットETF

Shares
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VistaGen
Therapeutics Inc.
5,505,056
Vapotherm Inc.
516,784
Verastem Inc.
5,204,312
Allakos Inc.
1,085,554
Tabula Rasa
HealthCare Inc.
708,021
Vicarious
Surgical Inc.
989,738
Arbutus BiopharmaCorp.
2,697,043
Signify Health Inc.
Class A
728,189
DermTech Inc.
653,798
Kiniksa
Pharmaceuticals
Ltd. Class A
868,519
LifeStance HealthGroup Inc.
1,064,164
Tactile Systems
Technology Inc.
529,858
Aligos
Therapeutics Inc.
848,752
Xeris Biopharma
Holdings Inc.
3,373,558
G1 Therapeutics Inc.
966,855
MEI Pharma Inc.
3,693,414
Clovis Oncology Inc. 3,614,712
PliantTherapeutics Inc.
718,287
Altimmune Inc.
1,055,590
Cue Biopharma Inc.
849,873
Dyne
Therapeutics Inc.
807,332
Utah Medical
Products Inc.
95,438
Aveanna Healthcare
Holdings Inc.
1,284,770
KalVista
Pharmaceuticals Inc.
717,163
Singular Genomics
Systems Inc.
820,124
Fluidigm Corp.
2,407,569
Immunovant Inc.
1,107,045
EyePoint
Pharmaceuticals Inc.
767,993
23andMe HoldingCo.
1,401,400
Precision
BioSciences Inc.
1,254,716
Aerie
Pharmaceuticals Inc. 1,313,983
SIGA
Technologies Inc.
1,214,044
Radius Health Inc.
1,317,303
Avita Medical Inc.
755,807
Tricida Inc.
941,938

MarketValue($000)

Shares*

10,735
10,703
10,66910,628*,1**,1

10,620*10,511*,1

10,491*,1

10,355
10,330***

10,222*

10,131*,1

10,083*

10,075

*

9,885
9,872
9,861
9,796

*,1

9,697
9,669
9,612

*

9,599

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9,544
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9,507

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9,488

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9,481
9,438
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9,333

*
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9,285

*

9,224

*,1

9,130
9,116
9,055
9,005

*,1
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Viking
Therapeutics Inc.
1,956,125
Esperion
Therapeutics Inc.
1,736,578
Stereotaxis Inc.
1,387,817
CEL-SCI Corp.
1,193,012
Olema
Pharmaceuticals Inc. 901,724
Lineage Cell
Therapeutics Inc.
3,437,446
Applied MolecularTransport Inc.
601,000
Axogen Inc.
896,295
Mirum
Pharmaceuticals Inc. 526,006
Selecta
Biosciences Inc.
2,565,679
LexiconPharmaceuticals Inc. 2,121,674
DICE
Therapeutics Inc.
326,204
iRadimed Corp.
176,500
Cymabay
Therapeutics Inc.
2,398,201
Erasca Inc.
518,553
Zomedica Corp.
26,205,556
Provention Bio Inc.
1,417,520
JounceTherapeutics Inc.
950,782
CytomX
Therapeutics Inc.
1,826,173
CogentBiosciences Inc.
919,181
KemPharm Inc.
893,113
Caribou
Biosciences Inc.
514,146
Passage Bio Inc.
1,216,852
Oyster Point
Pharma Inc.
418,653
SmileDirectClub Inc.
Class A
3,163,758
BioDelivery Sciences
International Inc.
2,396,202
Leap
Therapeutics Inc.
2,289,511
ADMA Biologics Inc. 5,232,363
Cortexyme Inc.
582,453
Generation Bio Co.
1,038,127
Icosavax Inc.
319,992
Akoya
Biosciences Inc.
477,329
Cardiff Oncology Inc. 1,200,675
Asensus Surgical Inc. 6,477,615
Vera
Therapeutics Inc.
Class A
268,385
Co-Diagnostics Inc.
799,651－ 52 －

MarketValue($000)
8,998
8,683
8,604
8,470
8,440
8,422
8,402
8,398
8,390
8,364
8,359
8,256
8,156
8,106
8,079
8,032
7,966
7,939
7,907
7,887
7,779
7,758
7,727
7,645
7,435
7,428
7,418
7,378
7,351
7,350
7,321
7,308
7,216
7,190
7,171
7,141

バンガード®・トータル・ストック・マーケットETF

Shares
*

*
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*

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*
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TarsusPharmaceuticals Inc.
317,149
XBiotech Inc.
633,491
Shattuck Labs Inc.
827,230
InfuSystem
Holdings Inc.
412,131
Imago
Biosciences Inc.
286,492
Monte Rosa
Therapeutics Inc.
332,183
Evolus Inc.
1,029,390
AldeyraTherapeutics Inc.
1,654,918
9 Meters
Biopharma Inc.
6,732,211
ClearPoint Neuro Inc.
585,895
ApolloEndosurgery Inc.
778,104
HarvardBioscience Inc.
928,940
IGM Biosciences Inc.
219,883
Ikena Oncology Inc.
511,054
Alpine Immune
Sciences Inc.
458,029ZIOPHARM
Oncology Inc.
5,819,043
Progenity Inc.
3,025,977
Durect Corp.
6,408,832
AegleaBioTherapeutics Inc. 1,313,273
PLx Pharma Inc.
765,283
Sema4 Holdings
Corp.
1,373,585
P3 HealthPartners Inc.
866,984
Finch Therapeutics
Group Inc.
608,599
PoseidaTherapeutics Inc.
888,597
Cytek
Biosciences Inc.
370,405
SomaLogic Inc.
517,212Checkpoint
Therapeutics Inc.
1,935,339
MyMD
Pharmaceuticals Inc. 986,327
Nkarta Inc.
387,394
Janux
Therapeutics Inc.
300,259
Sight Sciences Inc.
337,053
Harrow Health Inc.
683,628
SQZ Biotechnologies
Co.
657,886
Magenta
Therapeutics Inc.
1,316,086
Epizyme Inc.
2,324,103
Zynex Inc.
581,990

MarketValue($000)

Shares
*,1

7,136
7,051
7,040

*,1

*

7,019
*,1

6,793

*,1

6,783
6,701

*,1

*

6,620
*,1

6,589
6,574

*

6,559

*,1

6,549
6,449
6,409

*,2

6,344

*,1

6,343
6,324
6,318

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6,238
6,130

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6,126

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6,051
6,045
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6,019
5,977
5,946
5,924
5,922
5,907

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5,830
5,810
5,802

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CitiusPharmaceuticals Inc. 3,762,882
TenayaTherapeutics Inc.
304,397
Spectrum
Pharmaceuticals Inc. 4,533,639
Beyond Air Inc.
607,173
AtossaTherapeutics Inc.
3,568,886
Ventyx
Biosciences Inc.
286,784
Infinity
Pharmaceuticals Inc. 2,515,625
Humanigen Inc.
1,519,387
Harpoon
Therapeutics Inc.
744,084
Sierra Oncology Inc.
257,900
Accelerate
Diagnostics Inc.
1,071,946
PDL BioPharma Inc. 2,258,201
PAVmed Inc.
2,267,445
Paratek
Pharmaceuticals Inc. 1,241,872
Pulse
Biosciences Inc.
374,900
Annexon Inc.
483,043
Outlook
Therapeutics Inc.
4,078,824
ChromaDex Corp.
1,481,140
Sientra Inc.
1,494,281
Tango
Therapeutics Inc.
499,196
CytoSorbents Corp.
1,302,216
CTI BioPharma Corp. 2,197,729
Athersys Inc.
5,996,030
ViemedHealthcare Inc.
1,021,301
Immunic Inc.
556,586
Lyell
Immunopharma Inc.
685,335aTyr Pharma Inc.
707,035
Fortress Biotech Inc. 2,099,871
PDS Biotechnology
Corp.
646,702
Matinas BioPharma
Holdings Inc.
5,178,119
Graphite Bio Inc.
419,038
Eiger
BioPharmaceuticals
Inc.
1,002,324
Akouos Inc.
600,364
Oncocyte Corp.
2,341,973
Ovid therapeutics
Inc.
1,580,181
iCAD Inc.
693,870
TFF
Pharmaceuticals Inc. 562,689－ 53 －

MarketValue($000)
5,795
5,768
5,758
5,732
5,710
5,696
5,660
5,652
5,618
5,607
5,596
5,578
5,578
5,576
5,552
5,550
5,547
5,539
5,484
5,461
5,456
5,450
5,412
5,331
5,327
5,304
5,282
5,250
5,238
5,230
5,209
5,202
5,103
5,082
5,072
4,996
4,991

バンガード®・トータル・ストック・マーケットETF

Shares
*,1
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*,1

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Liquidia Corp.
1,020,773
Evelo
Biosciences Inc.
815,953
Century
Therapeutics Inc.
311,529
Enochian
Biosciences Inc.
670,400
CorMedix Inc.
1,073,491
Compass
Therapeutics Inc.
1,538,900
AVEO
Pharmaceuticals Inc. 1,031,672
Castlight Health Inc.
Class B
3,134,910
Sesen Bio Inc.
5,809,404
Vor BioPharma Inc.
402,489
Seelos
Therapeutics Inc.
2,822,580
Forian Inc.
507,760
XOMA Corp.
216,811
Tonix
Pharmaceuticals
Holding Corp.
12,556,859
Nuvalent Inc. Class A
235,682
Taysha Gene
Therapies Inc.
384,710PROCEPT
BioRobotics Corp.
178,900
Molecular
Templates Inc.
1,130,895
EntradaTherapeutics Inc.
254,933
Neoleukin
Therapeutics Inc.
904,596
89bio Inc.
331,274
Applied
Therapeutics Inc.
474,486
Oncology
Institute Inc.
432,741
IntriCon Corp.
259,528
Adverum
Biotechnologies Inc. 2,374,987
Dare Bioscience Inc. 2,082,157
TherapeuticsMD Inc. 11,683,481
Rain
Therapeutics Inc.
321,219
Tyra Biosciences Inc.
293,500
Alpha Teknova Inc.
200,207
AirSculpt
Technologies Inc.
238,200
Surface
Oncology Inc.
856,153
Frequency
Therapeutics Inc.
793,072
Savara Inc.
3,255,385
Codiak
Biosciences Inc.
361,652

MarketValue($000)

Shares

4,971

*

4,953

*,1
*

4,941
*,1

4,887
4,884

*,1

*,1

4,878
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4,839

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4,828
4,735
4,677

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4,601
4,580
4,521

*
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4,492
4,487

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4,482
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4,474

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4,364
4,360
4,330
4,247
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4,197

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4,180
4,164
4,153

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4,137
4,130
4,100

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4,095
*,1

4,092
*

4,068
4,037

*
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4,029

OpiantPharmaceuticals Inc.
119,263
Vincerx Pharma Inc.
391,380
Syros
Pharmaceuticals Inc. 1,219,329
SCYNEXIS Inc.
648,422
NRX
Pharmaceuticals Inc. 825,400
VerricaPharmaceuticals Inc. 426,172
Conformis Inc.
5,125,262
BrainStorm Cell
Therapeutics Inc.
951,371
Clearside
Biomedical Inc.
1,383,654
Exagen Inc.
326,266
Pear
Therapeutics Inc.
609,168
Avrobio Inc.
967,934
Homology
Medicines Inc.
1,018,828
Synlogic Inc.
1,521,748
Xilio Therapeutics Inc.
227,813
CareMax Inc.
471,830
Viracta
Therapeutics Inc.
991,377
Celcuity Inc.
273,679
Black Diamond
Therapeutics Inc.
670,875
Silverback
Therapeutics Inc.
536,038
LarimarTherapeutics Inc.
328,248
Mustang Bio Inc.
2,112,015
TCR2
Therapeutics Inc.
751,404
Theseus
Pharmaceuticals Inc. 275,573
Bolt
Biotherapeutics Inc.
706,665
AdagioTherapeutics Inc.
474,097
Biomea Fusion Inc.
456,903
iBio Inc.
6,187,128
Inmune Bio Inc.
331,277
Aerovate
Therapeutics Inc.
284,834
Enzo Biochem Inc.
1,040,908
Puma
Biotechnology Inc.
1,097,795
Actinium
Pharmaceuticals Inc. 552,928
Werewolf
Therapeutics Inc.
275,778
Aptinyx Inc. Class A
1,227,261
Eargo Inc.
640,326－ 54 －

MarketValue($000)
4,011
3,988
3,975
3,955
3,945
3,904
3,902
3,805
3,805
3,794
3,777
3,727
3,709
3,683
3,645
3,624
3,619
3,610
3,576
3,570
3,542
3,506
3,502
3,494
3,463
3,442
3,404
3,397
3,379
3,358
3,341
3,337
3,323
3,285
3,277
3,266

バンガード®・トータル・ストック・マーケットETF

Shares
*,1

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ZynerbaPharmaceuticals Inc. 1,129,474
Absci Corp.
395,572
UpHealth Inc.
1,440,200
Aquestive
Therapeutics Inc.
818,252
Retractable
Technologies Inc.
458,342
Rani Therapeutics
Holdings Inc.
Class A
193,116
Otonomy Inc.
1,513,558
Avalo
Therapeutics Inc.
1,844,625
Athenex Inc.
2,301,777
Impel
Neuropharma Inc.
361,867
CVRx Inc.
254,646
PalatinTechnologies Inc.
6,085,329
Sensei
Biotherapeutics Inc.
534,441
Brooklyn
ImmunoTherapeutics
Inc.
740,159
Pyxis Oncology Inc.
281,025
Assembly
Biosciences Inc.
1,320,373
MediciNova Inc.
1,146,273
Oncorus Inc.
580,797
eFFECTOR
Therapeutics Inc.
367,012PhaseBio
Pharmaceuticals Inc. 1,156,526
Convey Health
Solutions
Holdings Inc.
360,245
Ardelyx Inc.
2,730,304
Neuronetics Inc.
671,591
Ampio
Pharmaceuticals Inc. 5,246,099
Milestone
Scientific Inc.
1,447,898
Immunome Inc.
230,150
Lucira Health Inc.
343,109
Innovage Holding
Corp.
566,048
Oncternal
Therapeutics Inc.
1,243,288
ContraFect Corp.
1,071,148
Surgalign
Holdings Inc.
3,923,007
Invacare Corp.
1,023,221
Nautilus
Biotechnology Inc.
Class A
535,900
Tela Bio Inc.
216,147

MarketValue($000)

Shares
*

3,253
3,244
3,226

*,1

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3,183
*

3,176
*
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3,157
3,148

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3,136
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3,123
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3,086
3,083
3,076
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2,983
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2,822
2,817

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2,810
2,783

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2,767

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Anixa
Biosciences Inc.
927,841
180 Life SciencesCorp.
706,110
Immuneering Corp.
Class A
168,833
Assertio
Holdings Inc.
1,244,049
Aura Biosciences Inc.
159,493
RxSight Inc.
240,275
DyadicInternational Inc.
596,383
Optinose Inc.
1,663,471
Quantum-Si Inc.
338,766
Voyager
Therapeutics Inc.
976,336
Terns
Pharmaceuticals Inc. 372,824
NeuBaseTherapeutics Inc.
936,373
Rapid Micro
Biosystems Inc.
Class A
246,671
Cabaletta Bio Inc.
686,920
Trevena Inc.
4,456,224
ATI Physical
Therapy Inc.
764,606
Annovis Bio Inc.
146,966
Aspira Women's
Health Inc.
1,457,103
PreludeTherapeutics Inc.
205,579
FONAR Corp.
169,673
Repro-Med
Systems Inc.
842,318
ConcertPharmaceuticals Inc.
797,343
AdamisPharmaceuticals
Corp.
4,096,010
SAB
Biotherapeutics Inc.
316,200
Eyenovia Inc.
617,303
Eton
Pharmaceuticals Inc. 575,285
Galectin
Therapeutics Inc.
1,189,409
GT Biopharma Inc.
799,666
Cyteir
Therapeutics Inc.
213,864
Atreca Inc. Class A
797,857
Electromed Inc.
185,812AstriaTherapeutics Inc.
445,544
Solid
Biosciences Inc.
1,370,035
scPharmaceuticals
Inc.
473,934－ 55 －

MarketValue($000)
2,756
2,754
2,730
2,712
2,708
2,703
2,696
2,695
2,666
2,646
2,636
2,631
2,625
2,603
2,596
2,592
2,584
2,579
2,559
2,542
2,527
2,512
2,478
2,470
2,469
2,468
2,462
2,439
2,432
2,418
2,416
2,401
2,398
2,379

バンガード®・トータル・ストック・マーケットETF

Shares
*
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Lipocine Inc.
2,398,282
HepionPharmaceuticals Inc. 2,070,833
AcumenPharmaceuticals Inc. 348,229
Clene Inc.
573,521
Omega
Therapeutics Inc.
206,410SELLAS Life
Sciences Group Inc.
419,071
SatsumaPharmaceuticals Inc.
511,816
CidaraTherapeutics Inc.
1,796,543
IRIDEX Corp.
373,047
Cyclerion
Therapeutics Inc.
1,323,224
Inozyme Pharma Inc.
329,841
DecibelTherapeutics Inc.
483,353
Novan Inc.
533,970
La Jolla
Pharmaceutical Co.
478,002
Point Biopharma
Global Inc. Class A
389,126
NextCure Inc.
362,876
Surrozen Inc.
337,956
CorbusPharmaceuticals
Holdings Inc.
3,521,570
NexImmune Inc.
468,043
SensusHealthcare Inc.
297,679
F-star
Therapeutics Inc.
427,852
Heat Biologics Inc.
705,534
Equillium Inc.
570,835
Humacyte Inc.
295,041
Sanara Medtech Inc.
69,768Jasper
Therapeutics Inc.
269,524
T2 Biosystems Inc.
4,092,293
Champions
Oncology Inc.
263,922
CandelTherapeutics Inc.
269,900
Pro-Dex Inc.
87,581
Applied Genetic
Technologies Corp. 1,084,366
IsoPlexis Corp.
222,915
Lantern Pharma Inc.
256,113
Movano Inc.
532,959
Acutus Medical Inc.
593,445
Elevation
Oncology Inc.
332,316
Eliem
Therapeutics Inc.
189,734

MarketValue($000)
2,377

Shares
*,1

2,361
*

2,354
2,351
2,339

*

*
*,1

2,317
*

2,303
*,1

2,282
2,279

*
*

2,276
2,250
2,248
2,227

*

*
*
*

2,223
*,1

2,179
2,177
2,176
2,168
2,158

*

*,1

*
*,1
*

2,149

*,1

2,148
2,145
2,141
2,139
2,122

*

2,116
2,112

*,1

*,1

*

*,2

2,111
2,111
2,091
2,060
2,049
2,044
2,025
2,024
2,001
1,985

*

*,1

*,1
*,1

*
*
*
*,1

Gemini
Therapeutics Inc.
Class A
681,589
EledonPharmaceuticals Inc.
447,798
CASI
Pharmaceuticals Inc. 2,466,927
GlycoMimetics Inc.
1,369,767
CorvusPharmaceuticals Inc.
818,011
SummitTherapeutics Inc.
731,303
Tyme
Technologies Inc.
3,251,941
Recro Pharma Inc.
1,130,309
Angion Biomedica
Corp.
665,973
ProtaraTherapeutics Inc.
284,301
Renovacor Inc.
247,032
Codex DNA Inc.
175,221
DiaMedica
Therapeutics Inc.
506,271
BioSigTechnologies Inc.
833,444
UNITY
Biotechnology Inc.
1,262,875
Reneo
Pharmaceuticals Inc.
214,913
NeuroPace Inc.
180,700
Delcath Systems Inc.
234,851
Rallybio Corp.
189,993
SOC Telemed Inc.
Class A
1,411,966
GreenwichLifesciences Inc.
73,763
Achieve Life
Sciences Inc.
230,562
AcelRxPharmaceuticals Inc. 3,199,151
Sio Gene
Therapies Inc.
1,382,708
Alder
Biopharmaceuticals
Inc. CVR Exp.
12/31/24
2,021,007Talis Biomedical
Corp.
434,170
Capricor
Therapeutics Inc.
587,714Biolase Inc.
4,390,729
Kala
Pharmaceuticals Inc. 1,407,086
Ocuphire Pharma Inc.
451,409
CareCloud Inc.
266,292
Orgenesis Inc.
566,688
EvofemBiosciences Inc.
4,334,863－ 56 －

MarketValue($000)

1,983
1,975
1,974
1,972
1,971
1,967
1,961
1,933
1,931
1,919
1,902
1,892
1,888
1,859
1,844
1,838
1,821
1,820
1,813
1,807
1,795
1,794
1,792
1,784

1,778
1,741
1,722
1,712
1,703
1,684
1,683
1,632
1,628

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
*
*

*,1
*,1

*,1
*,1

Marker
Therapeutics Inc.
1,668,739
Oragenics Inc.
3,556,869
Five Star Senior
Living Inc.
537,058
Biocept Inc.
432,578
Agile
Therapeutics Inc.
3,195,980
AllenaPharmaceuticals Inc. 2,621,736
LENSAR Inc.
255,116
Checkmate
Pharmaceuticals Inc. 528,940
VYNE
Therapeutics Inc.
1,479,066
GaleraTherapeutics Inc.
328,358
Genprex Inc.
1,144,222
Onconova
Therapeutics Inc.
586,842
Caladrius
Biosciences Inc.
1,775,055
Cocrystal
Pharma Inc.
2,296,304
Processa
Pharmaceuticals Inc. 299,657
Rezolute Inc.
305,100
Biomerica Inc.
374,536
Merrimack
Pharmaceuticals Inc. 369,998
Lannett Co. Inc.
890,245
X4
Pharmaceuticals Inc. 626,285
Sonida Senior
Living Inc.
50,056ThorneHealthTech Inc.
227,118
Genocea
Biosciences Inc.
1,214,942
IsoRay Inc.
3,609,244
Second Sight
MedicalProducts Inc.
856,591
Aprea
Therapeutics Inc.
482,446
Venus Concept Inc.
813,187
Roivant Sciences Ltd.
134,798
Ontrak Inc.
215,767
IO Biotech Inc.
205,200
Longboard
Pharmaceuticals Inc. 278,227
Avinger Inc.
2,983,044
Predictive
Oncology Inc.
1,385,931
Celsion Corp.
2,428,865
Cumberland
Pharmaceuticals Inc. 280,820

MarketValue($000)

Shares
*

1,586
1,586

*
*

1,584
1,566

*

1,560

*

*

*,1

1,553
1,520

*

1,518

*

1,509

*
*,1

1,507
1,499

*

*,1

1,496

*

1,494

*

1,493
*,1

1,468
1,458
1,457
1,447
1,442

*
*

*,1

*

1,434
*,1

1,426

*,1

1,410
1,409
1,400

*
*,1
*,1

1,396
1,385
1,382
1,359
1,357
1,348
1,347
1,342
1,319
1,312
1,311

*,1

*
*,1

*
*,1
*

*
*,1
*,1

*,1

ArmataPharmaceuticals Inc.
237,161
Lumos Pharma Inc.
187,322
Sonendo Inc.
224,928
Biodesix Inc.
240,520
Aileron
Therapeutics Inc.
2,231,531
Axcella Health Inc.
600,853
Kaleido
Biosciences Inc.
524,178
AptevoTherapeutics Inc.
158,476
Calithera
Biosciences Inc.
1,858,409
Myomo Inc.
180,412Jaguar Health Inc.
1,164,170
Eloxx
Pharmaceuticals Inc. 1,725,475
Zosano Pharma Corp. 2,568,875
AIMImmunoTech Inc.
1,311,599
RevivaPharmaceuticals
Holdings Inc.
409,332
Microbot
Medical Inc.
153,549
Psychemedics Corp.
165,415
Moleculin
Biotech Inc.
616,108
ChembioDiagnostics Inc.
999,186
TraconPharmaceuticals Inc. 406,424
NanoViricides Inc.
300,189
Adial
Pharmaceuticals Inc. 413,497
Indaptus
Therapeutics Inc.
194,541
Hookipa Pharma Inc.
470,973
PolarityTE Inc.
1,866,000
NeuroMetrix Inc.
217,846
enVVeno Medical
Corp.
160,154
Precipio Inc.
662,055
TempestTherapeutics Inc.
196,177
Minerva Surgical Inc.
199,982
Talkspace Inc.
511,882
Lucid
Diagnostics Inc.
186,179
ElectroCore Inc.
1,693,367
cbdMD Inc.
910,106
SpruceBiosciences Inc.
219,817
AridisPharmaceuticals Inc.
419,974－ 57 －

MarketValue($000)
1,300
1,300
1,296
1,272
1,256
1,256
1,253
1,247
1,236
1,235
1,211
1,208
1,207
1,207
1,158
1,152
1,148
1,146
1,139
1,126
1,117
1,116
1,109
1,097
1,095
1,094
1,055
1,046
1,036
1,028
1,008
1,000
986
983
980
979

バンガード®・トータル・ストック・マーケットETF

Shares
*,1

*
*

*
*

*

*,1

*

*,1,2

*
*,1

*,1

*,1

*,1

*,1

*

*

*

*,1

*

*

*,1

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

*

*,1

*
*

*

Ensysce
Biosciences Inc.
206,600
OpGen Inc.
968,530
Sigilon
Therapeutics Inc.
349,052
NantHealth Inc.
894,058
LogicBio
Therapeutics Inc.
404,761
Minerva
Neurosciences Inc. 1,156,640
HTG MolecularDiagnostics Inc.
170,349
Diffusion
Pharmaceuticals Inc. 3,008,350
TobiraTherapeutics Inc.
CVR Exp. 12/31/28
201,001
IMARA Inc.
403,870
VallonPharmaceuticals Inc. 148,800
Synthetic
Biologics Inc.
3,260,633
RockwellMedical Inc.
2,138,698
Organovo
Holdings Inc.
237,956
Allied Healthcare
Products Inc.
147,174
TScan
Therapeutics Inc.
189,818
CyclacelPharmaceuticals Inc. 220,333
Sera Prognostics Inc.
Class A
123,881
VirpaxPharmaceuticals Inc.
247,037
Cryo-Cell
International Inc.
72,236
AbeonaTherapeutics Inc.
2,478,609
Windtree
Therapeutics Inc.
516,220
INVO BioScience Inc.
248,469
Biofrontera Inc.
110,000
Vyant Bio Inc.
600,669
Soligenix Inc.
1,217,959
Aytu BioPharma Inc.
595,596
LandosBiopharma Inc.
167,023
Cellectar
Biosciences Inc.
1,204,554
Vivos
Therapeutics Inc.
353,118
ImmuCell Corp.
99,344ENDRA Life
Sciences Inc.
1,135,615
Strata Skin
Sciences Inc.
526,219

MarketValue($000)
*

971
969

*

*

963
943

*

*,1

935

*,1

926

*
*

923
*,1

918
*,1

911
909

*

*,1

890
*

888
*

877
*

864
857

*
*

854
*,1

853
*

851
*

847
*

838

*

835

*,1

829
827
827
811
804
804

*,1
*

*,1
*,1
*
*,1

802

*,1

800

*,1

795
794

*

*

786
774

*,1
*
*

Aravive Inc.
Catalyst
Biosciences Inc.
Marpai Inc. Class A
Yumanity
Therapeutics Inc.
Longeveron Inc.
Better
Therapeutics Inc.
Lyra Therapeutics Inc.
Ekso Bionics
Holdings Inc.
Bright HealthGroup Inc.
Qualigen
Therapeutics Inc.
Miromatrix
Medical Inc.
Bellerophon
Therapeutics Inc.
ReShapeLifesciences Inc.
Xenetic
Biosciences Inc.
Sonnet
BioTherapeutics
Holdings Inc.
Augmedix Inc.
Entasis Therapeutics
Holdings Inc.
Cyclo
Therapeutics Inc.
Forte
Biosciences Inc.
Virios
Therapeutics Inc.
Aethlon Medical Inc.
Inhibikase
Therapeutics Inc.
vTv Therapeutics Inc.
Class A
Pulmatrix Inc.
OdonateTherapeutics Inc.
Aditxt Inc.
Sharecare Inc.
Graybug Vision Inc.
GeoVax Labs Inc.
ScopusBiopharma Inc.
Regulus
Therapeutics Inc.
Plus
Therapeutics Inc.
Imac Holdings Inc.
Cue Health Inc.
BioVie Inc. Class A
BioCardia Inc.

－ 58 －

SharesMarketValue($000)

350,260

767

826,502172,000

755
753

253,447
61,900750
747

160,300
167,443745
730

269,736715

203,739701

637,185682

146,672682

219,538681

411,000

674

519,743670

1,620,560
212,392

669
669

304,345667

176,043657

304,501652

127,068
342,003

651
636

424,359624

625,032
1,418,189

622
621

449,600
1,132,345
134,370
328,531
165,070

607
607
603
601
598

359,481588

1,847,824

582

553,702508,049
43,191
126,527
290,342

581
579
579
569
563

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

*

Paragon 28 Inc.
30,590
ARCA biopharma Inc.
251,085
Salarius
Pharmaceuticals Inc. 1,085,219
Daxor Corp.
47,328
KintaraTherapeutics Inc.
1,026,487
Enveric
Biosciences Inc.
563,792
Baudax Bio Inc.
2,337,257
TransCode
Therapeutics Inc.
200,117
Idera
Pharmaceuticals Inc.
886,117
Vaccinex Inc.
480,726
NeuroBo
Pharmaceuticals Inc. 409,413
SolenoTherapeutics Inc.
1,201,052
Bellicum
Pharmaceuticals Inc. 330,424
Cohbar Inc.
1,381,105Context
Therapeutics Inc.
180,700
iSpecimen Inc.
60,400AgeX
Therapeutics Inc.
426,190
Bio-Path
Holdings Inc.
121,084
Nephros Inc.
75,316
Navidea
Biopharmaceuticals
Inc.
450,277
AcordaTherapeutics Inc.
183,484
Kiromic
BioPharma Inc.
281,953
Alimera Sciences Inc.
83,422
Brickell Biotech Inc.
1,853,966
OncoSec
Medical Inc.
435,534
Evoke Pharma Inc.
739,706
Clarus Therapeutics
Holdings Inc.
166,600
Synaptogenix Inc.
47,303
SiNtx
Technologies Inc.
594,838
Hoth
Therapeutics Inc.
550,481ArteloBiosciences Inc.
678,172
Novo Integrated
Sciences Inc.
255,940
PanbelaTherapeutics Inc.
196,590
TimberPharmaceuticals Inc. 902,107
IN8bio Inc.
77,511MarketValue($000)

Shares

541
540

*

538
534

*,1

*

*

524
*

524
512

*

*,1

508
*

505
505
499

*

*

492

*,2

492
483

*

*,2

481
472

*,1

465

*,1

*,1

*

456
453

*

*

450

*,2

439
*

431
427
424
418
414
405
403
382
363
352

*

*,2

1

*

*
*

*

*

351

*

344

*,1

343
340

*

Exicure Inc.
1,640,265
Cognition
Therapeutics Inc.
51,490First Wave
BioPharma Inc.
210,625
TRxADEHEALTH Inc.
128,731
Jupiter Wellness Inc.
334,782
CNS
Pharmaceuticals Inc. 421,966
AvenueTherapeutics Inc.
314,396
Helius Medical
Technologies Inc.
Class A
53,162
Aziyo Biologics Inc.
Class A
42,872
Palisade Bio Inc.
196,415
Strongbridge
Biopharma plc CVR 1,399,363
Acer
Therapeutics Inc.
108,596
Aduro Biotech Inc.
CVR
415,255
Metacrine Inc.
368,353
Histogen Inc.
699,522
Vaxxinity Inc. Class A
36,674Nuwellis Inc.
170,751
Tenax
Therapeutics Inc.
178,455
ThermoGenesis
Holdings Inc.
182,545
Ocera
Therapeutics Inc.
CVR
653,477
MonoparTherapeutics Inc.
52,392
Protagenic
Therapeutics Inc.
121,310AdamasPharmaceuticals Inc.
CVR
2,522,158
PetrosPharmaceuticals Inc.
43,424
Phio Pharmaceuticals
Corp.
141,542HCW Biologics Inc.
59,200Titan
Pharmaceuticals Inc. 131,533
Kiora
Pharmaceuticals Inc.
84,490
NanoVibronix Inc.
119,979
SonomaPharmaceuticals Inc.
27,155
InVivo Therapeutics
Holdings Corp.
258,651
RA Medical
Systems Inc.
70,816－ 59 －

MarketValue($000)
331
325
304
301
298
296
285
275
270
255
253
250
249
248
233
206
195
186
184
176
169
168
152
145
142
137
134
128
125
124
118
110

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*,2

*

*,1,2

*
*

*

*,2

*,2

*,1,2

*,2

*,2

*,2

*,1,2

*

*

*,2

*,1,2

American Shared
Hospital Services
36,338
NovaBay
Pharmaceuticals Inc. 218,047
OncoMedPharmaceuticals Inc.
CVR
255,777
Unicycive
Therapeutics Inc.
22,695Miragen
Therapeutics Inc.
CVR
1,753,041
Viveve Medical Inc.
27,095
Lixte Biotechnology
Holdings Inc.
25,995
Trevi
Therapeutics Inc.
32,341Elanco Animal
Health Inc. CVR
575,457
AlexzaPharmaceuticals Inc.
CVR
327,391
Oncternal
Therapeutics Inc.
CVR
8,933
F-star
Therapeutics Inc.
CVR
61,021
Ambit Biosciences
Corp. CVR
201,330
Biosante
Pharmaceutical Inc.
CVR
253,823
Synergy
Pharmaceuticals LLC 5,148,145
Advaxis Inc. Warrants
Exp. 9/11/24
157,660
Geron Corp. Warrants
Exp. 12/31/25
1,202,419
Lantheus
Holdings Inc. CVR
2,319,511
AerpioPharmaceuticals Inc.
CVR
1,201,352

MarketValue($000)

Shares

86
*

82
67
47
35
31
31
25
15
11
9
4

*

*

—
—
—
—
—
—
—
174,791,182

Industrials (12.8%)
Visa Inc. Class A
47,229,793
Mastercard Inc.
Class A
24,931,683
Accenture plc
Class A
18,664,148*
PayPal Holdings Inc. 33,392,235
Union Pacific Corp. 18,270,664
United Parcel
Service Inc. Class B 20,722,276
HoneywellInternational Inc.
19,564,783

10,235,168
8,958,452
7,737,223
6,297,108
4,602,928
4,441,613
4,079,453**

RaytheonTechnologies Corp. 42,537,683
Boeing Co.
16,703,485
Caterpillar Inc.
15,374,036
Automatic Data
Processing Inc.
11,975,413
General Electric Co. 31,211,377
3M Co.
16,376,884
Deere & Co.
7,931,030
American Express
Co.
16,510,377
CSX Corp.
63,038,002
Lockheed Martin
Corp.
6,661,763
Sherwin-Williams Co. 6,706,470
Norfolk Southern
Corp.
6,916,283
Illinois Tool
Works Inc.
8,027,424
Eaton Corp. plc
11,328,049
Fidelity National
Information
Services Inc.
17,306,430
Block Inc. Class A
11,344,852
FedEx Corp.
6,794,454
Capital One Financial
Corp.
12,096,860
Fiserv Inc.
16,887,417
Johnson Controls
International plc
20,018,859
Emerson Electric Co. 16,906,920
Northrop Grumman
Corp.
4,055,057
General Dynamics
Corp.
6,743,839
Trane Technologies
plc
6,751,548
IHS Markit Ltd.
10,202,389
Carrier Global Corp. 24,630,695
Paychex Inc.
9,222,161
DuPont deNemours Inc.
14,725,665
L3Harris
Technologies Inc.
5,576,548
PPG Industries Inc.
6,748,909
Parker-Hannifin Corp. 3,652,666
RockwellAutomation Inc.
3,296,059
Global Payments Inc. 8,246,359
Mettler-Toledo
International Inc.
653,233
Cintas Corp.
2,497,931
Keysight
Technologies Inc.
5,169,026
Old Dominion FreightLine Inc.
2,942,095
Otis Worldwide Corp. 12,072,522－ 60 －

MarketValue($000)
3,660,793
3,362,746
3,178,428
2,952,897
2,948,539
2,909,026
2,719,471
2,701,098
2,370,229
2,367,657
2,361,750
2,059,047
1,981,168
1,957,713
1,888,997
1,832,307
1,757,318
1,755,133
1,752,745
1,627,733
1,571,836
1,569,591
1,405,888
1,364,015
1,356,102
1,335,969
1,258,825
1,189,539
1,189,143
1,163,782
1,161,986
1,149,830
1,114,743
1,108,674
1,107,008
1,067,456
1,054,388
1,051,154

バンガード®・トータル・ストック・マーケットETF

Shares

*
*

*
*

*

*

*

*

*

*

*

*

Verisk Analytics Inc.
4,579,618
Equifax Inc.
3,467,700
AMETEK Inc.
6,573,205
TransDigm Group Inc. 1,491,341
Zebra Technologies
Corp. Class A
1,519,379
Cummins Inc.
4,065,214
Ball Corp.
9,205,755
Stanley Black &Decker Inc.
4,634,979
PACCAR Inc.
8,880,440
Vulcan Materials Co. 3,771,087
Martin Marietta
Materials Inc.
1,773,738
Dover Corp.
4,092,079
Fortive Corp.
9,681,333
Synchrony Financial 15,555,842
Ingersoll Rand Inc.
11,584,687
Bill.com Holdings Inc. 2,769,103
United Rentals Inc.
2,057,134
Expeditors
International of
Washington Inc.
4,814,466
Waters Corp.
1,734,705
TransUnion
5,445,186
WW Grainger Inc.
1,244,771
Generac
Holdings Inc.
1,794,052
Trimble Inc.
7,132,801
Xylem Inc.
5,125,050
Teledyne
Technologies Inc.
1,325,618
IDEX Corp.
2,162,213
Jacobs EngineeringGroup Inc.
3,664,261
Affirm Holdings Inc.
Class A
5,029,168
FleetCor
Technologies Inc.
2,192,243
JB Hunt Transport
Services Inc.
2,387,451
Masco Corp.
6,936,294
Textron Inc.
6,265,189
Builders
FirstSource Inc.
5,443,061
Westinghouse Air
Brake Technologies
Corp.
5,043,281
Quanta Services Inc. 4,049,178
Trex Co. Inc.
3,272,372
Fortune Brands
Home &
Security Inc.
3,857,903
Crown Holdings Inc. 3,634,142
CH Robinson
Worldwide Inc.
3,693,642
Graco Inc.
4,828,656

MarketValue($000)

Shares

1,047,496
1,015,308
966,524
948,910904,334
886,786
886,238
874,250
783,788782,802781,367
743,122738,589
721,635
716,745689,922683,565
646,535
646,351645,690645,090
631,363
621,909614,596
579,149
510,974

*
*
*

*

*
*

510,175
505,733*

490,712*487,995
487,067
483,673*466,525*

464,537
464,279
441,868
412,410402,009397,547
389,286**

Nordson Corp.
1,486,269
RPMInternational Inc.
3,683,798
Cognex Corp.
4,773,117
Carlisle Cos. Inc.
1,485,937
Packaging Corp. of
America
2,700,199
Jack Henry &Associates Inc.
2,103,072
HowmetAerospace Inc.
10,931,721
Pentair plc
4,700,232
HEICO Corp. Class A 2,665,500
Allegion plc
2,549,599
Robert Half
International Inc.
3,005,983
Westrock Co.
7,533,091
Snap-on Inc.
1,525,432
Regal Rexnord Corp. 1,926,389
A O Smith Corp.
3,787,464
Booz Allen Hamilton
Holding Corp.
3,804,519
Hubbell Inc. Class B 1,546,059
Fair Isaac Corp.
738,607
AECOM
4,040,047
Middleby Corp.
1,581,110
LennoxInternational Inc.
936,314
Toro Co.
3,022,749
GXO Logistics Inc.
3,261,776
Watsco Inc.
938,802
Axon Enterprise Inc. 1,848,745
Berry Global
Group Inc.
3,852,739
Sealed Air Corp.
4,209,805
Genpact Ltd.
5,347,655
MohawkIndustries Inc.
1,540,469
Sensata Technologies
Holding plc
4,503,652
MKS
Instruments Inc.
1,576,179
Tetra Tech Inc.
1,531,830
WillScot Mobile Mini
Holdings Corp.
6,340,007
Paylocity Holding
Corp.
1,096,274
Knight-Swift
Transportation
Holdings Inc.
Class A
4,243,601
Owens Corning
2,856,341
TopBuild Corp.
935,830
Saia Inc.
748,741
ITT Inc.
2,432,854
Lincoln Electric
Holdings Inc.
1,677,993－ 61 －

MarketValue($000)
379,400
372,064
371,158
368,691
367,632
351,192
347,957
343,258
342,570
337,669
335,227
334,168
328,548
327,833
325,154
322,585
321,998
320,312
312,498
311,099
303,703
302,003296,267
293,732
290,253284,255
284,036
283,854
280,643
277,830
274,523
260,105
258,926
258,896258,605
258,499
258,205
252,348
248,613
234,030

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*
*

*

*

*

*
*

*

*
*

AptarGroup Inc.
1,869,590
Brunswick Corp.
2,189,333
Littelfuse Inc.
699,882
Oshkosh Corp.
1,919,016
Axalta Coating
Systems Ltd.
6,490,779
XPO Logistics Inc.
2,773,904
Huntington Ingalls
Industries Inc.
1,136,864
Acuity Brands Inc.
994,559
Donaldson Co. Inc.
3,512,218
Advanced Drainage
Systems Inc.
1,518,797
Western Union Co. 11,423,469
AGCO Corp.
1,702,101
Louisiana-PacificCorp.
2,502,062
Landstar System Inc. 1,083,478
EMCOR Group Inc.
1,520,272
Eagle Materials Inc.
1,155,989
WESCO
International Inc.
1,435,999
Woodward Inc.
1,703,379
Coherent Inc.
697,186
Colfax Corp.
3,959,768
nVent Electric plc
4,776,182
WEX Inc.
1,273,491
MDU ResourcesGroup Inc.
5,790,677
ASGN Inc.
1,406,533
Exponent Inc.
1,479,699
Simpson
Manufacturing Co.
Inc.
1,235,164
Graphic Packaging
Holding Co.
8,744,417
EuronetWorldwide Inc.
1,427,296
Chart Industries Inc. 1,034,295
AMN Healthcare
Services Inc.
1,344,408
Sonoco Products Co. 2,794,619
MSA Safety Inc.
1,058,319
Armstrong World
Industries Inc.
1,346,029
Curtiss-Wright Corp. 1,115,484
Watts Water
Technologies Inc.
Class A
783,571
Valmont
Industries Inc.
602,801
ManpowerGroup Inc. 1,541,703
FTI Consulting Inc.
973,915
Vontier Corp.
4,796,466
MasTec Inc.
1,583,614
Atkore Inc.
1,307,300
Crane Co.
1,420,756

MarketValue($000)
228,987
220,531220,239
216,292**

214,975
214,783
212,298
210,568
208,134**

206,754
203,795
197,478
196,037
193,964
193,667
192,426
188,963
186,452
185,828
182,031
181,495
178,785**,1

178,584
173,566
172,725
171,774
170,516
170,091
164,960**

164,461
161,780
159,764
156,301
154,684
152,146
151,002150,054
149,418
147,395
146,136
145,359
144,533**

AZEK Co. Inc.
Class A
Maximus Inc.
API Group Corp.
John Bean
Technologies Corp.
Air Lease Corp.
Class A
SummitMaterials Inc.
Class A
ExlService
Holdings Inc.
Spirit AeroSystems
Holdings Inc.
Class A
BWX
Technologies Inc.
Insperity Inc.
HB Fuller Co.
Ryder System Inc.
Zurn Water Solutions
Corp.
Korn Ferry
ACI Worldwide Inc.
TuSimple
Holdings Inc.
Class A
Triton International
Ltd.
Flowserve Corp.
Applied Industrial
Technologies Inc.
Herc Holdings Inc.
Allison Transmission
Holdings Inc.
Matson Inc.
TriNet Group Inc.
ResideoTechnologies Inc.
MSC Industrial Direct
Co. Inc. Class A
Franklin Electric Co.
Inc.
GATX Corp.
SPX FLOW Inc.
EVERTEC Inc.
Aerojet Rocketdyne
Holdings Inc.
Kirby Corp.
Silgan Holdings Inc.
Fluor Corp.
Comfort Systems
USA Inc.
Hillenbrand Inc.
Altra Industrial
Motion Corp.

－ 62 －

SharesMarketValue($000)

3,082,118
1,757,834
5,426,717

142,517140,047
139,846

903,409

138,727

3,079,310

136,198

3,371,531

135,333

899,778

130,2612,989,104

128,800

2,620,801
1,043,148
1,495,356
1,450,933

125,484
123,206
121,124
119,600

3,275,254
1,549,822
3,347,791

119,219
117,368
116,168

3,224,468

115,597

1,898,667
3,705,338

114,357
113,383

1,094,480
717,193

112,403112,277

2,964,907
1,194,391
1,120,880

107,774
107,531
106,775

4,094,970

106,592

1,266,375

106,451

1,119,468
1,012,052
1,193,931
2,045,444

105,857
105,446
103,251
102,2312,174,785
1,709,818
2,359,857
4,020,547

101,693
101,597
101,096
99,589972,820
1,847,907

96,251
96,073

1,846,144

95,206

バンガード®・トータル・ストック・マーケットETF

*

*

*

*

*

*

*
*

*,1

*

*

*

*

*,1

*

*
*,1
*

AAON Inc.
Installed Building
Products Inc.
EnerSys
Forward Air Corp.
Brink's Co.
HEICO Corp.
Beacon Roofing
Supply Inc.
UniFirst Corp.
Alliance Data
Systems Corp.
Mercury
Systems Inc.
Badger Meter Inc.
Itron Inc.
HeliosTechnologies Inc.
Welbilt Inc.
Kennametal Inc.
Shift4 Payments Inc.
Class A
Otter Tail Corp.
Belden Inc.
Terex Corp.
Bloom Energy Corp.
Class A
ArcBest Corp.
Albany International
Corp. Class A
Vicor Corp.
MasoniteInternational Corp.
CryoPort Inc.
Encore Wire Corp.
ABM Industries Inc.
Atlas Air Worldwide
Holdings Inc.
Hub Group Inc.
Class A
WernerEnterprises Inc.
Dycom
Industries Inc.
Kadant Inc.
Alight Inc. Class A
Federal Signal Corp.
Virgin Galactic
Holdings Inc.
SPX Corp.
Trinity Industries Inc.
Brady Corp. Class A
GMS Inc.
Flywire Corp.
Hayward
Holdings Inc.

SharesMarketValue($000)

1,193,157

94,772*

675,765
1,190,958
768,860
1,397,864
633,416

94,41894,157
93,101
91,65891,351*

1,591,119
433,130

91,251
91,131

1,343,728

89,452

1,616,053
831,418
1,291,896

88,98088,59688,521

827,484
3,653,877
2,380,752

87,02686,85385,493

1,464,755
1,183,330
1,282,663
1,887,182

84,85384,51384,30982,9423,780,094
691,108

82,897
82,829921,488637,293

81,50680,923*

673,178
1,331,274
548,722
1,913,248

79,401
78,771
78,52278,156*824,636

77,615917,291

77,273

1,616,460

77,040815,331
329,785
6,977,271
1,737,930

76,44576,00975,42475,3225,502,184
1,227,593
2,355,972
1,305,161
1,165,355
1,822,415

73,61973,263
71,15070,34870,04969,361

2,637,080

69,171

Shares

*

*

*

*,1

*

*

*

*

*

*

*
*

*

*

Kratos Defense &Security
Solutions Inc.
3,507,712
Moog Inc. Class A
832,398
JELD-WEN
Holding Inc.
2,477,693
Verra Mobility Corp.
Class A
4,199,950
Mueller Water
Products Inc.
Class A
4,489,020
EnPro Industries Inc.
586,811
Barnes Group Inc.
1,368,706
ESCO
Technologies Inc.
704,375
Gibraltar
Industries Inc.
929,576
AlleghenyTechnologies Inc.
3,622,393
Maxar
Technologies Inc.
1,947,074
ManTechInternational Corp.
Class A
787,347
Nikola Corp.
5,787,596
McGrath RentCorp
693,820
CBIZ Inc.
1,407,862
CSW Industrials Inc.
448,893
Green Dot Corp.
Class A
1,486,868
O-I Glass Inc.
4,462,566
MYR Group Inc.
475,848
ICF International Inc.
507,074
Patrick Industries Inc.
644,176
NV5 Global Inc.
371,608
Ferro Corp.
2,346,254
Greif Inc. Class A
847,057
GraniteConstruction Inc.
1,309,969
Montrose
Environmental
Group Inc.
712,221
Alamo Group Inc.
338,785
Air Transport Services
Group Inc.
1,693,948
Meritor Inc.
1,991,598
Veritiv Corp.
395,863
TTEC Holdings Inc.
533,420
Lindsay Corp.
313,571
Shyft Group Inc.
951,243
Gates Industrial Corp.
plc
2,915,593
Mesa
Laboratories Inc.
141,153
Ranpak Holdings
Corp. Class A
1,231,219
TriMas Corp.
1,220,883－ 63 －

MarketValue($000)

68,05067,39965,31264,80564,64264,59063,76863,387
61,98457,70557,49757,421
57,12455,68655,07654,25353,88453,68552,60552,00051,97951,326
51,21951,13750,69650,21949,862
49,76849,352
48,521
48,30147,663
46,73546,38746,311
46,26945,173

バンガード®・トータル・ストック・マーケットETF

*
*

*
*

*

*

*

*

*

*

*

*

*,1
*

*
*

*

*
*

*,1

*

*,1

OSI Systems Inc.
Aspen Aerogels Inc.
Astec Industries Inc.
AeroVironment Inc.
TaskUS Inc. Class A
Kforce Inc.
Griffon Corp.
Tennant Co.
Greenbrier Cos. Inc.
Repay Holdings Corp.
Class A
Proto Labs Inc.
Schneider
National Inc.
Class B
ZipRecruiter Inc.
Class A
H&E Equipment
Services Inc.
Deluxe Corp.
Standex International
Corp.
Donnelley Financial
Solutions Inc.
AAR Corp.
AZZ Inc.
PGT Innovations Inc.
ADT Inc.
FARO
Technologies Inc.
Columbus McKinnon
Corp.
Primoris Services
Corp.
Enerpac Tool Group
Corp. Class A
Evo Payments Inc.
Class A
Kaman Corp.
Marqeta Inc. Class A
CoreCivic Inc.
ApogeeEnterprises Inc.
Triumph Group Inc.
Cimpress plc
Pitney Bowes Inc.
Cornerstone Building
Brands Inc.
Energy Recovery Inc.
Huron Consulting
Group Inc.
AuroraInnovation Inc.
American Woodmark
Corp.
Desktop Metal Inc.
Class A

SharesMarketValue($000)

484,350889,629
613,540
671,416
769,449
549,992
1,448,198
501,408
884,322

45,141
44,29542,50041,64841,51941,37041,24540,634
40,5822,189,112
778,596

39,99539,981

1,479,472

39,813

1,596,231

39,810876,394
1,206,852

38,79838,752

348,265

38,539792,249
955,752
673,058
1,629,381
4,329,244

37,34737,30337,21336,64536,409*516,70336,180*768,497

35,551

*

*

*
*

*

*

*

*

*
*,1

1,465,637

35,146*,1

1,731,136

35,107*,1

1,347,771
792,645
1,981,835
3,381,659

34,50334,20334,02833,715687,169
1,763,023
445,2884,718,356

33,08732,66931,88731,283

1,793,393
1,452,044

31,277
31,204

622,781

31,0772,739,033

30,841

467,449

30,4786,144,196

30,414

*,1

*

*

*,1

*

*
*
*

Marten Transport Ltd.
Cross Country
Healthcare Inc.
TrueBlue Inc.
Great Lakes Dredge& Dock Corp.
Core & Main Inc.
Class A
Construction
Partners Inc.
Class A
Gorman-Rupp Co.
BlueLinx
Holdings Inc.
Wabash National
Corp.
First Advantage Corp.
Heidrick & Struggles
International Inc.
DouglasDynamics Inc.
Conduent Inc.
MirionTechnologies Inc.
Quanex Building
Products Corp.
Heartland
Express Inc.
GreenSky Inc.
Class A
RR Donnelley & SonsCo.
BTRS Holdings Inc.
Class A
PureCycle
Technologies Inc.
Hyliion Holdings
Corp.
Chase Corp.
Latch Inc.
Insteel Industries Inc.
BrightView
Holdings Inc.
Napco Security
Technologies Inc.
Myers Industries Inc.
Danimer
Scientific Inc.
Sterling Construction
Co. Inc.
Forterra Inc.
Titan Machinery Inc.
Forrester
Research Inc.
International
Seaways Inc.
CRA
International Inc.

－ 64 －

SharesMarketValue($000)

1,653,269

28,3701,020,354
1,020,212

28,32528,2291,766,202

27,765910,395

27,621

938,190595,244

27,592
26,518275,921

26,422

1,337,469
1,298,271

26,107
24,719557,140

24,364623,481
4,498,577

24,35324,022

2,263,704

23,701

948,578

23,506

1,344,573

22,616

1,985,027

22,5502,001,431

22,536

2,849,883

22,2862,309,138

22,0983,471,104
215,986
2,830,909
533,587

21,521
21,504
21,43021,242

1,505,101

21,192

422,379
1,048,842

21,11020,9872,434,321

20,740778,196
837,310579,374

20,467
19,911
19,519324,971

19,086

1,285,706

18,874

202,089

18,867

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

Transcat Inc.
SP Plus Corp.
Advantage
Solutions Inc.
VSE Corp.
Manitowoc Co. Inc.
WorkhorseGroup Inc.
Yellow Corp.
Loyalty Ventures Inc.
PAE Inc.
Enovix Corp.
Custom Truck One
Source Inc.
Argan Inc.
Kelly Services Inc.
Class A
Thermon Group
Holdings Inc.
Resources
Connection Inc.
Skillsoft Corp.
Titan
International Inc.
Franklin Covey Co.
CIRCORInternational Inc.
Ennis Inc.
Cass Information
Systems Inc.
Cantaloupe Inc.
Blade Air
Mobility Inc.
CS Disco Inc.
Ducommun Inc.
Hillman Solutions
Corp.
Vectrus Inc.
Barrett Business
Services Inc.
Paya Holdings Inc.
ModineManufacturing Co.
Payoneer Global Inc.
International Money
Express Inc.
Miller Industries Inc.
Tutor Perini Corp.
Paymentus
Holdings Inc.
Class A
Babcock & Wilcox
Enterprises Inc.
Daseke Inc.
Velodyne Lidar Inc.
REV Group Inc.

SharesMarketValue($000)

203,630
662,015

18,822
18,6822,238,939
291,711
940,165

17,956
17,777
17,4783,993,175
1,367,052
563,787
1,706,035
619,211

17,41017,211
16,953
16,941
16,892

2,101,525
426,094

16,812
16,486

1

976,875

16,382*

953,664

16,146

*,1

*,1
*

*
*

*

*

902,634
1,716,308

16,10315,704

1,428,714
337,690

15,65915,655*567,028752,051

15,412
14,688*,1

373,170
1,644,546

14,673
14,604*

1,651,127
406,883
309,233

14,57914,546
14,463

1,336,584
313,424

14,36814,345*,1

207,068
2,249,605

14,30014,262*

1,406,735
1,927,976

14,194
14,171*,1

884,570
422,123
1,131,073

14,11814,09913,991

*

*

*
*

*,1

*,1

*

*

*
*

*,1

399,835

13,986

1,474,680
1,310,814
2,822,003
921,448

13,302
13,161
13,094
13,038**,1

AvidXchange
Holdings Inc.
Allied Motion
Technologies Inc.
Pactiv Evergreen Inc.
Joby Aviation Inc.
Vishay Precision
Group Inc.
National Presto
Industries Inc.
DXP Enterprises Inc.
Atlanticus Holdings
Corp.
Eagle Bulk
Shipping Inc.
IES Holdings Inc.
Willdan Group Inc.
Hyster-Yale Materials
Handling Inc.
Vivint Smart
Home Inc.
Information Services
Group Inc.
PFSweb Inc.
HireRight Holdings
Corp.
View Inc.
KronosWorldwide Inc.
Radiant Logistics Inc.
Luna Innovations Inc.
ShotSpotter Inc.
Perella Weinberg
Partners Class A
Eos EnergyEnterprises Inc.
Sarcos Technology &Robotics Corp.
Proterra Inc.
I3 Verticals Inc.
Class A
Sterling Check Corp.
Velo3D Inc.
Archer Aviation Inc.
Class A
Astronics Corp.
DHI Group Inc.
Covenant Logistics
Group Inc. Class A
Infrastructure &EnergyAlternatives Inc.
Atlas TechnicalConsultants Inc.
Class A
LightningeMotors Inc.
Powell Industries Inc.

－ 65 －

SharesMarketValue($000)

857,701

12,917350,082995,789
1,719,513

12,774
12,627
12,552

335,165

12,441

150,334
478,217

12,332
12,276

171,756

12,250262,857
235,697335,760

11,96011,936
11,819286,209

11,763

1,177,444

11,515

1,442,453
840,934

10,991
10,831

676,654
2,746,998

10,826
10,741

663,432
1,348,881
1,117,437
314,458

9,958
9,833
9,431
9,283

689,931

8,872

1,146,168

8,619

827,715934,011

8,261
8,247

360,183
398,023
1,042,297

8,209
8,163
8,140

1,344,181
651,406
1,241,409

8,119
7,817
7,746

287,706

7,604

818,1537,527

880,0117,410

1,220,193
248,614

7,333
7,332

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

Park Aerospace Corp.
Blue Bird Corp.
Lawson Products Inc.
Rekor Systems Inc.
Commercial Vehicle
Group Inc.
Acacia Research
Corp.
United States Lime &Minerals Inc.
Ipsidy Inc.
Concrete Pumping
Holdings Inc.
AerSale Corp.
Huttig Building
Products Inc.
PAM Transportation
Services Inc.
Byrna
Technologies Inc.
Horizon Global Corp.
CECO Environmental
Corp.
Park-Ohio Holdings
Corp.
INNOVATE Corp.
Hurco Cos. Inc.
LSI Industries Inc.
Iteris Inc.
Electric Last Mile
Solutions I
Agrify Corp.
Enjoy Technology Inc.
USA Truck Inc.
BitNile Holdings Inc.
Preformed Line
Products Co.
EVI Industries Inc.
DLH Holdings Corp.
L B Foster Co.
Class A
Biotricity Inc.
BGSF Inc.
Smith-Midland Corp.
Bowman Consulting
Group Ltd.
US Xpress
Enterprises Inc.
Class A
HudsonTechnologies Inc.
Mistras Group Inc.
Orbital Energy
Group Inc.
HireQuest Inc.
Cadre Holdings Inc.
Graham Corp.

SharesMarketValue($000)

544,146
456,096
129,478
1,063,950

7,183
7,133
7,089
6,969

*,1

850,080

6,852*

1,326,212

6,803

*,1

52,084440,934

6,720
6,186

737,042
320,692

6,044
5,689

513,867

5,688

79,803

5,667

*
*

*

*
*

*,1
*,1

419,584
689,607

5,601
5,503

*,1

843,032

5,252*

239,809
1,371,804
168,308
728,530
1,202,500

5,077
5,076
4,999
4,998
4,810

*

675,715
514,560
1,024,765
230,660
3,545,981

4,750
4,734
4,734
4,586
4,220

*

*

*,1
*
*
*
*

*,1

64,220132,321
198,282

4,155
4,132
4,108

*,1

298,585
1,017,800
281,551
84,441

4,106
4,051
4,040
3,969

*,1

186,636

3,965

673,748

3,955

885,055
526,942

3,930
3,915

1,787,249
187,428
146,800
298,776

3,914
3,779
3,732
3,717

*

*
*

*,1
*,1

*
*

*

*

*
*,1

BlackSky
Technology Inc.
Quad/Graphics Inc.
GencorIndustries Inc.
Performant Financial
Corp.
Xos Inc.
Universal Logistics
Holdings Inc.
Twin Disc Inc.
ARC Document
Solutions Inc.
Berkshire Grey Inc.
Overseas
Shipholding
Group Inc. Class A
Rocket Lab USA Inc.
AEye Inc.
Redwire Corp.
Target Hospitality
Corp.
Orion Group
Holdings Inc.
Orion Energy
Systems Inc.
Greif Inc. Class B
Mayville Engineering
Co. Inc.
Energous Corp.
Hill International Inc.
Karat Packaging Inc.
Usio Inc.
ServiceSource
International Inc.
MICT Inc.
Wrap
Technologies Inc.
Manitex
International Inc.
AgEagle Aerial
Systems Inc.
CPI Card Group Inc.
Willis Lease FinanceCorp.
IZEA Worldwide Inc.
Katapult
Holdings Inc.
Soluna Holdings Inc.
Frequency
Electronics Inc.
Priority Technology
Holdings Inc.
LimbachHoldings Inc.
RF Industries Ltd.
Alpha Pro Tech Ltd.

－ 66 －

SharesMarketValue($000)

826,929
927,674

3,713
3,711

320,529

3,696

1,516,169
1,155,900

3,654
3,641

190,758
326,824

3,598
3,582

1,010,004
635,053

3,535
3,493

1,786,833
272,041
662,400
472,800

3,359
3,341
3,206
3,191

877,991

3,126

803,756

3,030

832,365
49,750

3,013
2,974

195,7102,204,696
1,410,112
133,764
615,890

2,918
2,756
2,750
2,703
2,685

2,687,550
3,146,889

2,661
2,612

643,5392,529

396,585

2,522

1,557,699
129,785

2,446
2,407

62,993
1,752,080

2,372
2,348

696,343
214,527

2,347
2,308

228,179

2,250

316,7502,243

230,117
249,088
331,541

2,071
1,993
1,979

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
*

Innovative Solutions& Support Inc.
Spire Global Inc.
Ultralife Corp.
Momentus Inc.
Hudson Global Inc.
VirTra Inc.
StarTek Inc.
Core Molding
Technologies Inc.
GEE Group Inc.
Lightbridge Corp.
RCM
Technologies Inc.
AIkido Pharma Inc.
Shapeways
Holdings Inc.
LS Starrett Co.
Class A
Coda Octopus
Group Inc.
LightPath
Technologies Inc.
Class A
Williams Industrial
Services Group Inc.
Paysign Inc.
Astra Space Inc.
Digital Ally Inc.
Volt Information
Sciences Inc.
Odyssey Marine
Exploration Inc.
FreightCar
America Inc.
CPI
Aerostructures Inc.
GreenBox POS
Armstrong
Flooring Inc.
Sono-Tek Corp.
Research
Solutions Inc.
Toughbuilt
Industries Inc.
Evolv Technologies
Holdings Inc.
Where Food Comes
From Inc.
Team Inc.
DSS Inc.
IHS Holding Ltd.
Broadwind Inc.
Astrotech Corp.
ENGlobal Corp.
Air T Inc.

SharesMarketValue($000)

297,872
576,233
320,851458,805
66,317
262,879
351,627

1,954
1,948
1,938
1,918
1,911
1,840
1,835

209,4613,039,188
247,133

1,783
1,732
1,637

227,673
2,685,084

1,621
1,576

414,937

1,539*

164,541

1,538

183,570

1,469

592,317

1,445

468,703865,624
195,9101,260,808

1,401
1,385
1,358
1,349

458,889

1,335

246,016

1,279

1

*

*,1

*,1

*,1
*
*

*
*,1

*,1
*,1
*

*
*,1

*
*,1

*,1

345,280

1,274*

436,753
281,786

1,192
1,183

*,1
*
*,1

588,752
157,600

1,166
1,157

*,1

*

465,675

1,146

3,109,404

1,135

250,371

1,117

*,1

65,820847,688
1,373,943
62,141
453,583
1,252,495
639,42132,860

942
924
923
876
853
852
844
826

*

*,1
*

*

*

*

ClearSign
Technologies Corp.
Pioneer Power
Solutions Inc.
Wireless Telecom
Group Inc.
TOMI Environmental
Solutions Inc.
Applied DNA
Sciences Inc.
Fuel Tech Inc.
Air Industries Group
Ballantyne
Strong Inc.
Sypris Solutions Inc.
ALJ Regional
Holdings Inc.
Polar Power Inc.
Legalzoom.com Inc.
AmpliTech Group Inc.
Espey Manufacturing& Electronics Corp.
TaitronComponents Inc.
Class A
AutoscopeTechnologies Corp.
Moneylion Inc.
Markforged Holding
Corp.
Cemtrex Inc.
Bio-keyInternational Inc.
OLB Group Inc.
Jewett-Cameron
Trading Co. Ltd.
SG Blocks Inc.
Socket Mobile Inc.
Energy Focus Inc.
Microvast
Holdings Inc.
LGL Group Inc.
ShiftPixy Inc.
P&F Industries Inc.
Class A
Servotronics Inc.
Staffing 360
Solutions Inc.
Remitly Global Inc.
Schmitt
Industries Inc.
LGL Group Inc.
Warrants Exp.
12/16/25
Ardagh Group SA
Class A

－ 67 －

SharesMarketValue($000)

588,394812

107,157804

339,257746

447,022738

178,430
509,027
747,738

717
713
678

226,990
260,226

656
640

336,903
161,430
33,951
132,700

613
578
546
523

36,520519

126,100

507

79,282
100,558

497
405

65,000375,912349
308

138,179
109,700

303
291

32,960122,327
53,50048,431

278
230
218
207

32,33913,749114,467

183
157
134

19,462
8,333

119
106

89,436
3,469

82
72

5,581

31

2,391

2

37

1

バンガード®・トータル・ストック・マーケットETF**,2

Electro-Sensors Inc.
Patriot National Inc.

SharesMarketValue($000)

107
129,819

1—

Shares*

175,828,999
Real Estate (3.7%)
American Tower
Corp.
12,942,885
Prologis Inc.
21,022,435
1
Crown Castle
International Corp. 12,282,528
Equinix Inc.
2,559,026
Public Storage
4,235,630
Simon Property
Group Inc.
9,339,458
Digital Realty
Trust Inc.
8,065,235
SBA
Communications
Corp.
3,091,181
Realty Income Corp. 16,077,913
Welltower Inc.
12,371,004
AvalonBay
Communities Inc.
3,970,984
Alexandria Real
Estate Equities Inc. 4,402,477*
CBRE Group Inc.
Class A
9,035,282
Equity Residential
10,124,739*
CoStar Group Inc.
11,224,266
Weyerhaeuser Co.
21,285,089
Extra Space
Storage Inc.
3,805,213
Invitation Homes Inc. 16,955,214
Mid-America
Apartment
Communities Inc.
3,272,444
Sun
Communities Inc.
3,394,894
Duke Realty Corp.
10,819,591
Essex Property
Trust Inc.
1,850,203
Ventas Inc.
11,345,465
Healthpeak
Properties Inc.
15,317,219
VICI Properties Inc. 17,870,734
UDR Inc.
8,785,871
Camden Property
Trust
2,904,470
BostonProperties Inc.
3,995,277
WP Carey Inc.
5,291,271
Kimco Realty Corp.
17,521,186
Iron Mountain Inc.
8,228,225
Equity LifeStyle
Properties Inc.
4,700,121
Medical Properties
Trust Inc.
16,943,853

3,785,794
3,539,337*

2,563,855
2,164,527
1,586,498
1,492,165
1,426,498
1,202,531
1,151,018
1,061,061
1,003,031
981,576
980,418
916,289
887,054876,520862,756
768,749
750,830
712,826
710,198
651,697
579,980*

552,798
538,088527,064*,1*

518,971
460,176
434,149
431,897
430,583
412,013400,383

Jones Lang
LaSalle Inc.
1,434,325
Regency CentersCorp.
4,865,824
Life Storage Inc.
2,331,152
Host Hotels &Resorts Inc.
20,297,189
CubeSmart
6,166,887
Rexford Industrial
Realty Inc.
4,303,238
American Homes 4
Rent Class A
7,585,506
CyrusOne Inc.
3,607,110
Gaming & Leisure
Properties Inc.
6,430,945
Federal Realty
Investment Trust
2,210,773
Lamar Advertising
Co. Class A
2,467,307
EastGroup
Properties Inc.
1,157,273
Americold Realty
Trust
7,581,846
First Industrial Realty
Trust Inc.
3,699,771
Apartment Income
REIT Corp.
4,457,847
National Retail
Properties Inc.
4,988,762
STORE Capital Corp. 6,970,840
STAG Industrial Inc.
4,971,865
American Campus
Communities Inc.
3,960,511
Kilroy Realty Corp.
3,308,953
Vornado Realty Trust
5,177,391
Brixmor Property
Group Inc.
8,444,901
Healthcare Trust of
America Inc.
Class A
6,279,092
Omega Healthcare
Investors Inc.
6,787,423
Zillow Group Inc.
Class C
3,087,747
Opendoor
Technologies Inc.
13,059,513
Zillow Group Inc.
Class A
2,961,288
Terreno Realty Corp. 2,128,095
Innovative Industrial
Properties Inc.
679,968
Cousins
Properties Inc.
4,223,411
Spirit Realty
Capital Inc.
3,502,804
Rayonier Inc.
4,072,394
Douglas Emmett Inc. 4,738,771－ 68 －

MarketValue($000)
386,321366,640
357,086
352,968
350,958
349,036
330,804
323,630
312,930
301,373
299,284
263,685248,609244,925
243,710
239,810
239,797
238,451
226,898
219,913
216,726
214,585
209,659
200,840
197,153
190,799
184,251
181,505
178,770
170,119
168,800
164,362
158,749

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*

*

*

*

National Storage
Affiliates Trust
2,283,436
Agree Realty Corp.
1,982,012
Ryman Hospitality
Properties Inc.
1,487,583
SL Green RealtyCorp.
1,897,879
Kite Realty Group
Trust
6,231,734
Healthcare Realty
Trust Inc.
4,194,495
Highwoods
Properties Inc.
2,967,406
Hannon Armstrong
Sustainable
Infrastructure
Capital Inc.
2,407,407
LXP Industrial Trust
8,039,038
DigitalBridge
Group Inc.
14,601,917
Park Hotels &Resorts Inc.
6,393,192
Howard HughesCorp.
1,175,042
Physicians Realty
Trust
6,245,522
Outfront Media Inc.
4,142,180
Redfin Corp.
2,848,563
PotlatchDeltic Corp.
1,811,668
Broadstone Net
Lease Inc.
4,360,519
PS Business
Parks Inc.
586,078
Hudson Pacific
Properties Inc.
4,333,699
EPR Properties
2,125,420
JBG SMITH
Properties
3,506,235
Essential Properties
Realty Trust Inc.
3,455,515
Macerich Co.
5,755,710
Apple Hospitality
REIT Inc.
6,146,670
Uniti Group Inc.
6,708,596
Cushman &Wakefield plc
4,128,840
Newmark Group Inc.
Class A
4,887,393
Corporate Office
Properties Trust
3,195,388
Sabra Health Care
REIT Inc.
6,505,325
EquityCommonwealth3,276,634
Pebblebrook Hotel
Trust
3,739,527
SITE Centers Corp.
5,136,302

MarketValue($000)

Shares158,014
141,436
136,798*

136,078
135,727
132,714132,317

127,881
125,570
121,634*,1

120,703
119,596
117,603
111,093
109,356
109,099**

108,228
107,938*

107,086
100,936
100,664
99,622
99,4591

99,26993,987
91,82591,39489,37588,082
84,86583,65381,3081

Kennedy-Wilson
Holdings Inc.
3,361,218
Independence Realty
Trust Inc.
2,992,647
Sunstone Hotel
Investors Inc.
6,272,320
National HealthInvestors Inc.
1,233,509
RLJ Lodging Trust
4,725,855
Brandywine Realty
Trust4,875,048
Piedmont Office
Realty Trust Inc.
Class A3,536,088
Retail Opportunity
Investments Corp.
3,285,719
Four Corners
Property Trust Inc.
2,185,285
eXp World
Holdings Inc.
1,887,048
Compass Inc.
Class A
6,933,491
CareTrust REIT Inc.
2,748,091
Washington REIT
2,406,862
Urban Edge
Properties
3,170,419
Xenia Hotels &Resorts Inc.
3,253,929
DiamondRock
Hospitality Co.
6,002,990
Easterly Government
Properties Inc.
Class A
2,445,461
Realogy Holdings
Corp.
3,316,695
Monmouth Real
Estate Investment
Corp.
2,651,459
Acadia Realty Trust
2,526,011
NexPoint Residential
Trust Inc.
650,732
Tanger Factory Outlet
Centers Inc.
2,807,251
American Assets
Trust Inc.
1,378,443
InvenTrust Properties
Corp.
1,815,354
Alexander &Baldwin Inc.
1,963,456
St. Joe Co.
919,548
Industrial Logistics
Properties Trust
1,857,153
Safehold Inc.
563,820
Global Net Lease Inc. 2,943,588
Centerspace
404,611
ParamountGroup Inc.
5,294,861－ 69 －

MarketValue($000)
80,26677,30073,57470,89065,831
65,42364,99364,40064,26963,57563,02562,73962,217
60,23858,92957,68956,05055,75455,70755,14354,551
54,12451,73349,48749,26347,862
46,52245,021
44,97844,871
44,159

バンガード®・トータル・ストック・マーケットETF

Shares

*

*

*

*

*

*

*

*

*,1

*

Empire State Realty
Trust Inc. Class A
4,907,755
Service Properties
Trust
4,694,523
Veris Residential Inc. 2,204,564
LTC Properties Inc.
1,110,407
Marcus &Millichap Inc.
731,340
Getty Realty Corp.
1,094,835
Office Properties
Income Trust
1,383,251
UMH Properties Inc. 1,247,888
RPT Realty
2,411,202
Community
Healthcare Trust Inc.
675,203
American Finance
Trust Inc. Class A
3,482,994
Apartment
Investment &Management Co.
Class A
4,073,623
Gladstone Land Corp.
924,200
Global Medical
REIT Inc.
1,734,543
Plymouth Industrial
REIT Inc.
938,524
Orion Office
REIT Inc.
1,538,897
Summit Hotel
Properties Inc.
2,881,364
Radius Global
Infrastructure Inc.
1,738,443
Gladstone
Commercial Corp.
1,073,949
Armada Hoffler
Properties Inc.
1,754,632
Preferred Apartment
Communities Inc.
1,430,856
GEO Group Inc.
3,291,250
City Office REIT Inc.
1,177,279
NETSTREIT Corp.
995,124
Douglas Elliman Inc. 1,860,390
DiversifiedHealthcare Trust
6,890,667
Universal Health
Realty Income Trust
354,893
Bluerock Residential
Growth REIT Inc.
Class A
746,308
Saul Centers Inc.
366,855
Ares Commercial
Real Estate Corp.
1,291,539
Chatham Lodging
Trust1,343,804
CBL & Associates
Properties Inc.
567,300
CorePoint
Lodging Inc.
1,090,453

MarketValue($000)
43,67941,26540,52037,90937,63535,13334,36034,10532,262
31,91731,80031,44831,20130,78830,033****28,731
28,122
27,989*27,676*

26,705**,1

25,84125,507
23,21622,78821,394*,1*

21,292
21,105
19,695
19,451*

18,779*18,437*

17,70017,120Franklin Street
Properties Corp.
Urstadt Biddle
Properties Inc.
Class A
RE/MAX
Holdings Inc.
Class A
One Liberty
Properties Inc.
Phillips Edison & Co.
Inc.
RMR Group Inc.
Class A
Alexander's Inc.
Whitestone REIT
Bridge Investment
Group Holdings Inc.
Class A
FarmlandPartners Inc.
Tejon Ranch Co.
CatchMark Timber
Trust Inc. Class A
Seritage Growth
Properties Class A
Forestar Group Inc.
CTO Realty
Growth Inc.
Postal Realty
Trust Inc. Class A
Hersha Hospitality
Trust Class A
Ashford Hospitality
Trust Inc.
FRP Holdings Inc.
Braemar Hotels &Resorts Inc.
Offerpad
Solutions Inc.
Indus Realty
Trust Inc.
Stratus
Properties Inc.
BRT Apartments
Corp.
Cedar Realty
Trust Inc.
Power REIT
Alpine Income
Property Trust Inc.
Vidler Water
Resouces Inc.
Fathom Holdings Inc.
New York City
REIT Inc. Class A
Clipper Realty Inc.
Retail Value Inc.

－ 70 －

SharesMarketValue($000)

2,758,628

16,414

769,274

16,386518,668

15,814445,242

15,708473,656

15,650442,978
58,505
1,339,431

15,362
15,22913,568536,905

13,407

1,088,998
633,019

13,014
12,0781,357,461

11,823

871,418
506,605

11,564
11,019164,401

10,098503,103

9,961

1,071,995

9,830

963,193
155,398

9,247
8,982

1,751,422

8,932

1,271,837

8,140

96,347

7,810

206,151

7,539

311,104

7,463

285,758
84,433

7,175
5,817

274,615

5,503

444,916
206,487

5,375
4,225

380,218
405,295
594,080

4,034
4,029
3,814

バンガード®・トータル・ストック・マーケットETF

*

*

*
*

*

*
*,1
*

*,2
*
*,1

*

*

*
*,2

*

Urstadt Biddle
Properties Inc.
CIM Commercial
Trust Corp.
Rafael Holdings Inc.
Class B
Maui Land &Pineapple Co. Inc.
Global Self
Storage Inc.
Pennsylvania REIT
Altisource Portfolio
Solutions SA
Trinity Place
Holdings Inc.
CorEnergy
Infrastructure
Trust Inc.
AMREP Corp.
WeWork Inc.
Comstock Holding
Cos. Inc. Class A
Spirit MTA REIT
Sotherly Hotels Inc.
Harbor Custom
Development Inc.
Presidio Property
Trust Inc. Class A
Avalon GloboCare
Corp.
Alset EHome
International Inc.
Wheeler REIT Inc.
New York REIT
Liquidating LLC
JW Mays Inc.

SharesMarketValue($000)

179,571

3,441

391,8362,880

531,859

2,712

185,158

1,844

319,661
1,593,485

1,819
1,625

144,667

1,623

Shares***753,758

1,387

403,190
73,876120,274

1,262
1,123
1,034

164,051
2,854,330
337,859

799
764
706

238,273627*

110,319430*

503,819413

486,512130,830271
254

19,100
2,922

220
119

*
*

50,354,335
Technology (28.9%)
Apple Inc.
442,969,284
Microsoft Corp.
213,382,662*
Alphabet Inc. Class A 8,547,474*
Meta Platforms Inc.
Class A
67,251,688*
Alphabet Inc. Class C 7,677,584
NVIDIA Corp.
67,499,669*
Adobe Inc.
13,522,501
Broadcom Inc.
11,113,202*
salesforce.com Inc. 26,432,252
Intel Corp.
115,586,332
QUALCOMM Inc.
31,831,280
Intuit Inc.
8,047,618
Texas
Instruments Inc.
26,246,724*
Advanced Micro
Devices Inc.
34,321,894
Oracle Corp.
46,616,042
Applied Materials Inc. 25,662,203

78,658,056
71,764,857
24,762,374
22,620,105
22,215,780
19,852,328
7,668,069
7,394,836
6,717,228
5,952,696
5,820,986
5,176,389
4,946,720
4,938,921
4,065,385
4,038,204

*

*

*
*

*

*

*
*
*
*
*
*
*

*

*

*

ServiceNow Inc.
5,655,685
International
Business MachinesCorp.
25,486,833
MicronTechnology Inc.
31,792,741
Lam Research Corp. 4,001,637
Analog Devices Inc. 15,273,478
Snowflake Inc.
Class A
7,696,609
MarvellTechnology Inc.
23,408,563
KLA Corp.
4,309,336
Autodesk Inc.
6,248,264
Snap Inc. Class A
34,672,068
Synopsys Inc.
4,335,159
Workday Inc. Class A 5,484,935
TE Connectivity Ltd. 9,273,074
Xilinx Inc.
7,045,984
Amphenol Corp.
Class A
16,995,701
Palo Alto
Networks Inc.
2,663,971
Roper
Technologies Inc.
2,998,206
Cadence Design
Systems Inc.
7,876,559
Fortinet Inc.
3,950,027
MicrochipTechnology Inc.
15,769,912
Cognizant Technology
Solutions Corp.
Class A
14,926,545
Twilio Inc. Class A
4,787,524
Datadog Inc. Class A 6,944,261
HP Inc.
32,755,850
Crowdstrike
Holdings Inc.
Class A
5,557,806
Zoom Video
Communications
Inc. Class A
5,852,097
EPAM Systems Inc.
1,531,523
Match Group Inc.
7,643,647
ANSYS Inc.
2,479,931
MongoDB Inc.
1,786,875
Okta Inc.
4,195,433
Twitter Inc.
21,590,638
Cloudflare Inc.
Class A
7,005,804
Palantir
Technologies Inc.
Class A
48,769,447
DoorDash Inc.
Class A
5,756,335
HubSpot Inc.
1,275,840－ 71 －

MarketValue($000)
3,671,162
3,406,570
2,961,494
2,877,777
2,684,619
2,607,226
2,048,015
1,853,488
1,756,949
1,630,627
1,597,506
1,498,375
1,496,118
1,493,960
1,486,444
1,483,192
1,474,698
1,467,797
1,419,640
1,372,929
1,324,283
1,260,747
1,236,842
1,233,913
1,137,961
1,076,259
1,023,747
1,010,872
994,750
945,882
940,490933,147
921,263
888,092
857,118
840,970

バンガード®・トータル・ストック・マーケットETF

Shares
*

*

*

*

*

*

*

*

*

*
*
*

*

*

*
*

*

*

*

*

*
*
*
*

*
*

ON SemiconductorCorp.
12,242,960
Corning Inc.
21,827,049
DocuSign Inc.
5,311,482
CDW Corp.
3,856,784
Zscaler Inc.
2,388,420
Teradyne Inc.
4,632,698
Gartner Inc.
2,220,463
Skyworks
Solutions Inc.
4,700,423
Unity Software Inc.
4,877,423
VMware Inc. Class A 5,963,685
VeriSign Inc.
2,682,908
Seagate Technology
Holdings plc
6,011,144
Tyler
Technologies Inc.
1,165,104
Monolithic Power
Systems Inc.
1,244,669
PaycomSoftware Inc.
1,450,113
AppLovin Corp.
Class A
6,283,957
Hewlett Packard
Enterprise Co.
37,200,686
NetApp Inc.
6,353,868
Pinterest Inc. Class A 15,993,055
Western Digital Corp. 8,856,320
AkamaiTechnologies Inc.
4,616,252
Entegris Inc.
3,848,894
Splunk Inc.
4,591,778
SS&C Technologies
Holdings Inc.
6,137,846
NuanceCommunications
Inc.
9,073,706
Qorvo Inc.
3,132,363
Dell Technologies Inc.
Class C7,858,880
ZoomInfo
Technologies Inc.
Class A
6,875,898
RingCentral Inc.
Class A
2,333,967
F5 Inc.
1,740,069
NortonLifeLock Inc. 15,708,364
Ceridian HCM
Holding Inc.
3,870,980
GoDaddy Inc. Class A 4,723,115
Wolfspeed Inc.
3,302,134
PTC Inc.
3,014,880
Zendesk Inc.
3,436,075
Leidos Holdings Inc.
3,987,935
Black Knight Inc.
4,193,470
Dynatrace Inc.
5,666,408
Citrix Systems Inc.
3,544,895

MarketValue($000)*

831,542812,621808,992
789,792
767,471757,585
742,345

*
*
*
*

*
*

729,224
697,423
691,072
680,976*

679,139*626,768*

614,033**

602,072592,326**

586,655
584,492
581,348577,521
540,286
533,380
531,361
503,181

*

*

*
*
*

501,957
489,870
441,433***

441,433*

437,269
425,812408,103*404,363
400,804
369,080
365,253
358,348354,527
347,597
341,968
335,312

*
*
*
*
*

*

Coupa Software Inc.
Synaptics Inc.
UiPath Inc. Class A
Avalara Inc.
Lattice
Semiconductor
Corp.
IAC/InterActiveCorp
Aspen
Technology Inc.
Manhattan
Associates Inc.
Bentley Systems Inc.
Class B
Guidewire
Software Inc.
Arrow
Electronics Inc.
Five9 Inc.
Smartsheet Inc.
Class A
Jabil Inc.
Elastic NV
Pure Storage Inc.
Class A
SiliconLaboratories Inc.
DXC Technology Co.
Azenta Inc.
Vertiv Holdings Co.
Class A
Concentrix Corp.
II-VI Inc.
Dropbox Inc. Class A
Ambarella Inc.
Universal Display
Corp.
Nutanix Inc. Class A
KBR Inc.
Anaplan Inc.
Rapid7 Inc.
CACIInternational Inc.
Class A
Dolby
Laboratories Inc.
Class A
Novanta Inc.
IPG Photonics Corp.
New Relic Inc.
Semtech Corp.
Asana Inc. Class A
Blackline Inc.
CMC Materials Inc.
Power
Integrations Inc.
Digital Turbine Inc.

－ 72 －

SharesMarketValue($000)

2,105,057
1,116,359
7,352,133
2,346,835

332,704
323,197
317,097
303,000

3,892,344
2,264,692

299,944
296,018

1,903,861

289,768

1,797,995

279,570

5,777,221

279,2132,367,673

268,802

1,977,774
1,932,451

265,556
265,3643,401,769
3,665,449
2,093,058

263,467
257,864
257,634

7,700,113

250,639

1,142,459
7,173,467
2,113,377

235,826
230,914217,910

8,555,371
1,191,927
3,016,199
8,366,807
990,274

213,628
212,902
206,097
205,321200,917

1,205,579
6,008,251
3,987,325
3,947,444
1,527,907

198,957
191,423
189,876
180,990
179,819662,615

178,383

1,848,967
963,242984,734
1,487,956
1,828,423
2,163,723
1,497,630
808,168

176,059
169,848
169,512
163,616
162,602161,306
155,065
154,918

1,633,035
2,477,752

151,693
151,118

バンガード®・トータル・ストック・マーケットETF

*
*
*
*
*

*
*
*
*
*
*

*
*

*

*

*

*
*

*
*
*
*
*

*
*
*

*

*
*
*

*

*
*
*,1

NCR Corp.
Workiva Inc. Class A
Cirrus Logic Inc.
Varonis Systems Inc.
MaxLinear Inc.
Class A
National InstrumentsCorp.
SPS Commerce Inc.
Rogers Corp.
Ziff Davis Inc.
Tenable Holdings Inc.
Onto Innovation Inc.
ChangeHealthcare Inc.
CDK Global Inc.
TD SYNNEX Corp.
Science Applications
International Corp.
Qualys Inc.
ProcoreTechnologies Inc.
Diodes Inc.
Pegasystems Inc.
Sailpoint
Technologies
Holdings Inc.
Dun & Bradstreet
Holdings Inc.
Fabrinet
DigitalOcean
Holdings Inc.
Teradata Corp.
Q2 Holdings Inc.
Perficient Inc.
SiTime Corp.
Envestnet Inc.
Avnet Inc.
Mandiant Corp.
Upwork Inc.
Alarm.com
Holdings Inc.
MACOM Technology
Solutions
Holdings Inc.
Blackbaud Inc.
Box Inc. Class A
AltairEngineering Inc.
Class A
Insight
Enterprises Inc.
Alteryx Inc. Class A
FormFactor Inc.
Fastly Inc. Class A
Advanced Energy
Industries Inc.

SharesMarketValue($000)

3,755,566
1,155,251
1,624,388
3,051,304

150,974
150,749
149,476
148,843

1,963,507

148,029

3,369,834
1,022,451
532,404
1,301,465
2,591,612
1,405,241

147,161
145,546
145,346
144,280
142,720
142,253

6,632,838
3,363,412
1,227,199

141,810140,389
140,342

1,635,873
993,392

136,743
136,313

*,1

*
*
*
*

1,687,511
1,217,003
1,162,778

134,950
133,639130,022

*

*

*
*,1

*

*

*
*
*

*

2,646,343

127,924

6,128,331
1,052,409

125,569
124,679

1,551,387
2,930,297
1,534,644
936,641
409,073
1,472,656
2,818,385
6,480,941
3,280,922

124,623
124,450
121,912
121,098
119,670
116,841
116,202113,676
112,076

1,284,885

108,971

1,385,406
1,370,019
4,093,796

108,477
108,204
107,217

1,371,103

106,014

*
*
*
*
*
*
*

*

*

*
*

*

*

*
*,1

991,210
1,702,380
2,222,500
2,839,431

105,663
102,994
101,613
100,658

1,070,738

97,501****

MicroStrategy Inc.
Class A
Switch Inc. Class A
Cargurus Inc. Class A
Kyndryl Holdings Inc.
Rambus Inc.
nCino Inc.
LiveRamp
Holdings Inc.
Sprout Social Inc.
Class A
Verint Systems Inc.
E2open Parent
Holdings Inc.
Xerox Holdings Corp.
CommVault
Systems Inc.
Cerence Inc.
VishayIntertechnology Inc.
Bumble Inc. Class A
Plexus Corp.
Momentive
Global Inc.
Shutterstock Inc.
3D Systems Corp.
Everbridge Inc.
Appian Corp.
Sanmina Corp.
Yelp Inc. Class A
Jamf Holding Corp.
TechTarget Inc.
Ultra Clean
Holdings Inc.
Amkor
Technology Inc.
Bottomline
Technologies
DE Inc.
AllegroMicroSystems Inc.
Vimeo Inc.
PagerDuty Inc.
McAfee Corp.
Class A
AxcelisTechnologies Inc.
NetScout
Systems Inc.
LivePerson Inc.
C3.ai Inc. Class A
Magnite Inc.
Duck Creek
Technologies Inc.
Zuora Inc. Class A
Allscripts Healthcare
Solutions Inc.

－ 73 －

SharesMarketValue($000)

177,758
3,266,161
2,747,355
5,100,990
3,118,229
1,650,260

96,78793,54392,421
92,32891,64590,533

1,839,033

88,182

971,971
1,668,135

88,14887,594

7,672,934
3,803,851

86,397
86,1191,229,545
1,095,655

84,74083,971

3,769,844
2,378,024
796,606

82,44680,52076,3873,599,426
674,364
3,449,500
1,096,784
1,129,242
1,737,931
1,974,474
1,860,208
736,966

76,12874,77374,302
73,84673,63872,05571,55570,70670,4981,211,602

69,4972,777,609

68,857

1,219,093

68,842

1,885,975
3,768,402
1,937,511

68,23567,68067,3282,597,373

66,986

898,409

66,9852,006,252
1,811,535
2,007,747
3,577,896

66,36764,70862,74262,613

2,057,005
3,281,732

61,936
61,303

3,312,490

61,115

バンガード®・トータル・ストック・マーケットETF

*
*

*

*

*

*,1

*,1

*

*

*

*

*
*

*

*

*
*

*
*

*
*,1

*
*

*
*,1

*

*
*
*
*

*

*,1

Progress Software
Corp.
Appfolio Inc. Class A
Covetrus Inc.
Xperi Holding Corp.
Qualtrics
International Inc.
Class A
Super Micro
Computer Inc.
BigCommerce
Holdings Inc.
SentinelOne Inc.
Class A
Confluent Inc.
Class A
Amplitude Inc.
Class A
DoubleVerify
Holdings Inc.
Schrodinger Inc.
CSG Systems
International Inc.
Cohu Inc.
MethodeElectronics Inc.
Impinj Inc.
Ping Identity Holding
Corp.
SMART Global
Holdings Inc.
Grid Dynamics
Holdings Inc.
Avaya Holdings Corp.
TTM
Technologies Inc.
ePlus Inc.
Veeco
Instruments Inc.
JFrog Ltd.
HashiCorp Inc.
Class APROS Holdings Inc.
Bandwidth Inc.
Class A
Domo Inc. Class B
PAR Technology
Corp.
Eventbrite Inc.
Class A
Unisys Corp.
Ichor Holdings Ltd.
Sumo Logic Inc.
Informatica Inc.
Class A
Alpha & Omega
Semiconductor Ltd.
Porch Group Inc.

SharesMarketValue($000)

1,241,569
494,6112,938,377
2,971,355

59,931
59,87858,67956,1881,536,387

54,3881,235,645

54,307

1,528,086

54,0481,064,182

53,731

691,588

52,727994,761

52,663

1,575,840
1,495,382

52,44452,084

886,339
1,317,518

51,07150,184

1,020,502
555,350

50,17849,2602,136,826

48,891

Shares*****658,208

46,726

1,205,205
2,283,601

45,76245,2152,795,604
767,238

41,654
41,3391,435,035
1,369,047

40,85540,661

434,900
1,132,944

39,59339,075541,881780,227

38,88538,699725,024

38,2602,168,432
1,830,240
809,440
2,666,220

37,81737,64837,25936,154

*
*

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

*

*
*

*,1

*
*,1
*

*

*,1

*,1
*
*,1

*,1

*,1
*

*
*

*
*
*,1

974,499

36,037594,018
2,227,645

35,97434,729**,1

Vroom Inc.
3,111,294
Yext Inc.
3,268,123
ACM Research Inc.
Class A
377,036
Olo Inc. Class A
1,540,826
CTS Corp.
869,853
Photronics Inc.
1,651,619
Avid Technology Inc.
955,731
Parsons Corp.
875,475
A10 Networks Inc.
1,764,269
Model N Inc.
973,334
Skillz Inc. Class A
3,856,288
PDF Solutions Inc.
901,002
Paycor HCM Inc.
986,913nLight Inc.
1,185,312
CEVA Inc.
624,044
Gitlab Inc. Class A
304,454
Consensus Cloud
Solutions Inc.
452,295
BenchmarkElectronics Inc.
944,125
KnowBe4 Inc.
Class A
1,114,396
ScanSource Inc.
724,735
PubMatic Inc.
Class A
743,572
Aeva
Technologies Inc.
3,343,540
Agilysys Inc.
560,666
MicroVision Inc.
4,720,001
Thoughtworks
Holding Inc.
865,989
Squarespace Inc.
Class A
774,097
Samsara Inc. Class A
795,400
AmericanSoftware Inc.
Class A
850,686
Toast Inc. Class A
635,651
NeoPhotonics Corp. 1,432,873
Freshworks Inc.
Class A
833,937
Tucows Inc. Class A
259,269
Ebix Inc.
702,350
Matterport Inc.
1,033,676
Mitek Systems Inc.
1,170,254
Simulations Plus Inc.
437,858
Telos Corp.
1,330,133
AlkamiTechnology Inc.
1,002,043
ChannelAdvisor Corp.
800,233
N-able Inc.
1,764,875
CCC Intelligent
Solutions
Holdings Inc.
1,715,395
Diebold Nixdorf Inc.
2,101,000
Veritone Inc.
842,495－ 74 －

MarketValue($000)
33,571
32,42032,15032,06531,941
31,13331,12829,46029,252
29,22928,691
28,64328,43328,38826,984
26,487
26,17425,58625,56425,42425,31925,27724,927
23,647
23,217
22,83622,35922,262
22,06322,023
21,89921,732
21,351
21,335
20,772
20,711
20,511
20,101
19,75019,59019,53819,014
18,939

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
*,1
*

*,1
*,1

*
*,1
*
*
*

ON24 Inc.
Datto Holding Corp.
Digimarc Corp.
Ouster Inc.
Braze Inc. Class A
Identiv Inc.
Groupon Inc.
Vivid Seats Inc.
Class A
Aehr Test Systems
SolarWinds Corp.
OneSpan Inc.
CyxteraTechnologies Inc.
KimballElectronics Inc.
SEMrushHoldings Inc.
Class A
Hackett Group Inc.
IonQ Inc.
Clear Secure Inc.
Class APC Connection Inc.
Upland Software Inc.
Vertex Inc. Class A
Expensify Inc.
Class A
Limelight
Networks Inc.
Rackspace
Technology Inc.
Atomera Inc.
indie
Semiconductor Inc.
Class ANVE Corp.
Enfusion Inc. Class A
Brightcove Inc.
Benefitfocus Inc.
AXT Inc.
eGain Corp.
GTY Technology
Holdings Inc.
Red Violet Inc.
Cleanspark Inc.
MediaAlpha Inc.
Class A
Xometry Inc. Class A
Nextdoor
Holdings Inc.
CyberOptics Corp.
Kopin Corp.
Quantum Corp.
TrueCar Inc.
ForgeRock Inc.
Class A

SharesMarketValue($000)

1,081,630
694,177
451,405
3,414,031
226,651
599,960
727,221

18,766
18,292
17,821
17,753
17,48816,883
16,842

1,527,100
681,104
1,148,947
953,338

16,615
16,46916,304
16,140

*,1

*
*,1

*
*
*

*
*
*

1,180,626

14,888*,1

681,124

14,821

*

*

*
*,1

700,407703,805
820,400

14,603
14,44913,701*,1

422,535
305,972
719,805
812,212

13,255
13,197
12,913
12,890

*

*,1
*,1

*,1

*,1
*

286,159

12,591*

3,621,469

12,422*,1

906,694598,972

12,213
12,051

959,946
166,862543,647
1,108,617
984,491
1,158,144
994,878

11,510
11,397
11,384
11,33010,495
10,203
9,929

*

*,1
*,1

*

*

*

*,1
*

1,455,833
234,813
971,716

9,754
9,320
9,251

*,1

598,704
177,983

9,244
9,122

*,1

1,140,000
193,062
2,191,200
1,620,965
2,596,466

8,995
8,977
8,962
8,948
8,828

310,395

8,284

*

*
*,1

*
*
*

Alpine 4
Holdings Inc.
Rimini Street Inc.
SmartRent Inc.
Class A
CoreCard Corp.
Sprinklr Inc. Class A
Smith Micro
Software Inc.
MeridianLink Inc.
Asure Software Inc.
EverQuote Inc.
Class A
Intapp Inc.
EMCORE Corp.
comScore Inc.
Pixelworks Inc.
Couchbase Inc.
Phunware Inc.
NextNav Inc.
Zeta Global Holdings
Corp. Class A
Innodata Inc.
KULR Technology
Group Inc.
WM Technology Inc.
Immersion Corp.
Daktronics Inc.
AvePoint Inc.
KORE Group
Holdings Inc.
VirnetX Holding Corp.
Greenidge
Generation
Holdings Inc.
Everspin
Technologies Inc.
Synchronoss
Technologies Inc.
Computer Task
Group Inc.
Nuvve Holding Corp.
SecureWorks Corp.
Class A
Exela
Technologies Inc.
Richardson
Electronics Ltd.
BuzzFeed Inc.
Viant Technology Inc.
Class A
Issuer Direct Corp.
SkyWaterTechnology Inc.
AstroNova Inc.
inTEST Corp.
Intevac Inc.

－ 75 －

SharesMarketValue($000)

4,269,734
1,358,208

8,198
8,108

826,884
205,921503,494

8,004
7,990
7,990

1,589,694
349,328
936,577

7,821
7,538
7,333

463,139
272,438
978,233
1,926,362
1,360,829
236,438
2,190,620
641,600

7,253
6,855
6,828
6,434
5,988
5,901
5,761
5,620

659,450
912,571

5,553
5,402

1,942,837
893,261
927,552
1,034,740
778,650

5,362
5,342
5,296
5,225
4,898

719,616
1,835,130

4,850
4,771

296,9764,766

420,060

4,747

1,886,342

4,603

448,443
321,077

4,471
4,277

263,152

4,203

4,732,805

4,153

298,587
740,107

4,037
3,945

388,628
126,490

3,772
3,725

217,410
250,452
262,097685,231

3,526
3,381
3,334
3,227

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

*
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*,1

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*
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*
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*
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*,1
*

*
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*
*
*
*

Park City Group Inc.
546,003
NerdWallet Inc.
Class A
187,176
Zedge Inc. Class B
329,626
Arteris Inc.
127,965
TransAct
Technologies Inc.
247,478
Amtech Systems Inc.
268,244
Waitr Holdings Inc.
3,543,228
Stronghold Digital
Mining Inc. Class A
199,597
Remark Holdings Inc. 2,574,727
Intellicheck Inc.
522,431eMagin Corp.
1,840,738
Inpixon3,857,401
Super League
Gaming Inc.
969,852
Blend Labs Inc.
Class A
290,885
GSI Technology Inc.
460,392
Boxlight Corp.
Class A
1,524,589
Mastech Digital Inc.
119,078
1stdibs.com Inc.
162,021
Verb Technology Co.
Inc.
1,624,862
Quantum
Computing Inc.
576,947
Steel Connect Inc.
1,313,081
SeaChange
International Inc.
1,082,170
American Virtual
Cloud
Technologies Inc.
680,707
IronNet Inc.
379,700
QuickLogic Corp.
305,351
One Stop
Systems Inc.
314,266
Key Tronic Corp.
244,100
Research
Frontiers Inc.
819,655
Trio-Tech International
104,880
Inuvo Inc.
2,563,824
Aware Inc.
424,390
Flux Power
Holdings Inc.
305,905
Cipher Mining Inc.
282,658
NetSolTechnologies Inc.
324,880
AutoWeb Inc.
349,274
Creatd Inc.
554,557
CSP Inc.
129,793
AudioEye Inc.
162,397
Kubient Inc.
377,509OMNIQ Corp.
175,600
SigmaTron
International Inc.
98,274MarketValue($000)
3,178

Shares
*
*,1

2,911
2,802
2,701

*
*
*,1
*,1

2,698
2,650
2,622

*
*

*

2,565
2,553
2,414
2,375
2,314

*

*

*

2,289
*

2,135
2,132

*
*,1
*,1

2,104
2,033
2,027

*
*,1
*,1
*

2,015
1,967
1,825
1,731
1,654
1,595
1,560
1,556
1,518
1,410
1,409
1,359
1,337

*
*,1
*,1

*
*,1

*

*
*
*
*

*

*

1,312
1,309
1,280
1,188
1,159
1,141
1,140
1,140
1,085

*
*
*,2

*
*
*

*

Qumu Corp.
459,382
Akerna Corp.
547,065
GSE Systems Inc.
541,861
WidePoint Corp.
231,461
Glimpse Group Inc.
85,600Intrusion Inc.
244,034
Data I/O Corp.
180,859
Streamline Health
Solutions Inc.
536,995
Peraso Inc.
176,997
Crown
ElectroKinetics
Corp.
184,921
RubiconTechnology Inc.
80,276
CVD Equipment
Corp.
165,470
EngageSmart Inc.
27,578RealNetworks Inc.
675,168
PetVivo Holdings Inc.
173,200
CYNGN Inc.
134,700
BTCS Inc.
176,100
BSQUARE Corp.
299,286
Terawulf Inc.
31,426
Bridgeline Digital Inc.
200,736
SilverSun
Technologies Inc.
99,500Alfi Inc.
173,138
NXT-ID Inc.
125,063
Weave
Communications
Inc.
24,444
Oblong Inc.
351,708
Backblaze Inc.
Class A
21,397
Summit Wireless
Technologies Inc.
242,859
UserTesting Inc.
34,465
VerifyMe Inc.
84,041
CynergisTek Inc.
158,445
Recruiter.com
Group Inc.
71,564Evolving
Systems Inc.
72,375EverCommerce Inc.
10,223Sigma Labs Inc.
54,433Creative Realities Inc.
66,218Media General Inc.
CVR
2,351,648
Data Storage Corp.
24,445
Paltalk Inc.
24,400Duos Technologies
Group Inc.
12,313
iPower Inc.
25,3201,015－ 76 －

MarketValue($000)
974
957
927
910
844
839
834
789
743
738
720
682
665
662
653
606
553
512
473
454
443
398
383
371
362
361
338
290
268
228
187
162
161
100
93
91
75
69
63
60

バンガード®・トータル・ストック・マーケットETF**,2Marin Software Inc.
Ikonics Corp. CVR

SharesMarketValue($000)

345
7,226

1
—
396,652,125

Telecommunications (2.6%)
Cisco Systems Inc. 107,877,184
Comcast Corp.
Class A
129,584,186
VerizonCommunications
Inc.
107,366,928
AT&T Inc.
202,950,408*
Charter
Communications
Inc. Class A
3,312,233*
T-Mobile US Inc.
15,974,584
Motorola
Solutions Inc.
4,799,588*
Arista Networks Inc. 6,550,193*
Roku Inc.
3,345,570*
Liberty Broadband
Corp. Class C
4,236,306
Lumen
Technologies Inc.
29,108,761*
Ciena Corp.
4,402,630
Juniper
Networks Inc.
9,254,313
Cable One Inc.
163,144*
DISH Network Corp.
Class A
7,020,805*
Lumentum
Holdings Inc.
1,951,849*
Frontier
Communications
Parent Inc.
6,955,433*
Vonage Holdings
Corp.
6,823,475*
Iridium
Communications
Inc.
3,380,165*
Calix Inc.
1,546,263*
Viavi Solutions Inc.
6,757,330*
Altice USA Inc.
Class A
6,105,372
CogentCommunications
Holdings Inc.
1,220,138*
Viasat Inc.
1,989,088*
Liberty Broadband
Corp. Class A
422,122*CommScope Holding
Co. Inc.
5,791,443
InterDigital Inc.
872,791*
VoceraCommunications
Inc.
938,903
Telephone & Data
Systems Inc.
2,897,229

6,836,177

Shares**,1**

6,521,972*

5,578,786
4,992,580

*
*

*,1

2,159,477
1,852,732*

1,304,048
941,590
763,459*

682,469*,1

365,315
338,870
330,472
287,696

*

*
*
*

*

*,1

227,755*

206,447**

205,116
141,860*,1

139,567
123,655
119,064*,1

98,785

*

*

*

*
*

89,29088,594
67,91963,93862,51860,87858,379

*
*

*
*

*

*,1

*
*,1

Extreme
Networks Inc.
3,689,355
fuboTV Inc.
3,494,561
8x8 Inc.
3,079,617
Infinera Corp.
5,119,042
Shenandoah
Telecommunications
Co.
1,349,631
Plantronics Inc.
1,153,101Harmonic Inc.
2,748,862
WideOpenWest Inc. 1,468,857
ADTRAN Inc.
1,374,161
Globalstar Inc.
25,381,523
Clearfield Inc.
329,610
EchoStar Corp.
Class A
1,051,825
IDT Corp. Class B
579,260
NETGEAR Inc.
788,783
Digi International Inc.
927,075
Anterix Inc.
339,768
Gogo Inc.
1,407,387
ComtechTelecommunications
Corp.
719,972
Consolidated
Communications
Holdings Inc.
2,144,845
Inseego Corp.
2,727,854
United States CellularCorp.
454,355
Ooma Inc.
601,899
ATN International Inc.
297,951
RibbonCommunications
Inc.
1,859,251
Akoustis
Technologies Inc.
1,454,053
Aviat Networks Inc.
274,106
AST
SpaceMobile Inc.
1,093,565
Cambium Networks
Corp.
299,325DZS Inc.
464,747
CalAmp Corp.
1,032,612
Lantronix Inc.
748,596
Casa Systems Inc.
979,691
Powerfleet Inc.
919,204
Spok Holdings Inc.
464,693
KVH Industries Inc.
457,474
Genasys Inc.
1,017,703
Bel Fuse Inc. Class B
300,241
Hemisphere MediaGroup Inc. Class A
478,622
AppliedOptoelectronics Inc.
664,868
Airgain Inc.
291,442
Resonant Inc.
1,683,883－ 77 －

MarketValue($000)
57,92354,236
51,61449,092
34,416
33,83232,32731,61031,37229,44327,826
27,71625,58023,04022,77819,96519,042
17,056
16,043
15,903
14,321
12,303
11,903
11,248
9,713
8,793
8,683
7,672
7,538
7,290
5,862
5,555
4,357
4,336
4,204
4,050
3,882
3,480
3,417
3,098
2,879

バンガード®・トータル・ストック・マーケットETF

*
*
*,1

*,1

*

*

*,1

1

*
*
*
*,1

*,1,2
*

*,1,2

PCTEL Inc.
Crexendo Inc.
Airspan Networks
Holdings Inc.
Network-1
Technologies Inc.
Vislink
Technologies Inc.
TESSCOTechnologies Inc.
Franklin WirelessCorp.
ComSovereign
Holding Corp.
Communications
Systems Inc.
Optical Cable Corp.
Kaltura Inc.
ClearOne Inc.
Sonim
Technologies Inc.
FTE Networks Inc.
ADDvantage
Technologies
Group Inc.
Bel Fuse Inc. Class A
Ominto Inc.

SharesMarketValue($000)

434,105
343,511

2,461
1,718

384,800

1,458

509,201

1,436

1,155,455

1,363

206,685

1,279

244,162

1,067

1,404,121

1,060

278,558
92,32589,047231,050

669
496
300
298

157,205
84,180145
12647,7382,976
101,171

83
43
42

Shares****35,488,850
Utilities (2.7%)
NextEra Energy Inc. 55,764,274
Duke Energy Corp. 21,854,432
Southern Co.
30,114,223
WasteManagement Inc.
11,888,018
Dominion Energy Inc. 23,016,066
Exelon Corp.
27,757,020
American ElectricPower Co. Inc.
14,312,840
Sempra Energy
8,954,402
Xcel Energy Inc.
15,304,357
Waste
Connections Inc.
7,403,704
American Water
Works Co. Inc.
5,160,405
Public Service
EnterpriseGroup Inc.
14,373,727
Eversource Energy
9,772,155
WEC Energy
Group Inc.
8,965,652
Republic
Services Inc.
5,857,568
Edison International 10,794,013
Consolidated
Edison Inc.
8,554,261*
PG&E Corp.
56,007,922
Ameren Corp.
7,258,374

5,206,153
2,292,530
2,065,233*

1,984,110
1,808,142
1,603,245
1,273,413
1,184,488
1,036,105
1,008,903
974,5941

959,159
889,071
870,296
816,838
736,691
729,850
679,936
646,068

Entergy Corp.
5,714,934
FirstEnergy Corp.
15,472,029
PPL Corp.
21,339,452
DTE Energy Co.
4,954,133
CMS Energy Corp.
8,230,685
CenterPoint
Energy Inc.
17,873,135
Evergy Inc.
6,450,795
Alliant Energy Corp.
7,116,559
AES Corp.
17,988,667
Atmos Energy Corp. 3,763,642
Essential Utilities Inc. 6,464,409
Vistra Corp.
13,721,078
NiSource Inc.
11,158,664
NRG Energy Inc.
6,958,091
UGI Corp.
5,944,590
Pinnacle West CapitalCorp.
3,207,886
OGE Energy Corp.
5,686,909
Sunrun Inc.
5,589,969
National Fuel Gas Co. 2,589,485
IDACORP Inc.
1,436,947
Evoqua Water
Technologies Corp. 3,428,754
Stericycle Inc.
2,609,693
Clean Harbors Inc.
1,392,330
Portland General
Electric Co.
2,546,506
Black Hills Corp.
1,817,589
Hawaiian ElectricIndustries Inc.
2,955,323
Casella Waste
Systems Inc.
Class A
1,434,086
ONE Gas Inc.
1,521,161
New Jersey
Resources Corp.
2,731,235
Southwest Gas
Holdings Inc.
1,597,867
PNM Resources Inc. 2,441,420
Avangrid Inc.
2,200,369
American States
Water Co.
1,049,827
California Water
Service Group
1,498,101
Ormat
Technologies Inc.
1,273,967
ALLETE Inc.
1,490,706
Spire Inc.
1,394,754
NorthWestern Corp. 1,538,545
Avista Corp.
2,020,138
MGE Energy Inc.
1,029,166
South Jersey
Industries Inc.
3,186,187
Clearway Energy Inc.
Class C2,138,445－ 78 －

MarketValue($000)
643,787
643,482
641,464592,217535,406
498,839442,589
437,455
437,125
394,317
347,074
312,429
308,091
299,755
272,916
226,445
218,264
191,736
165,572
162,820
160,294
155,642
138,913
134,761
128,267
122,646
122,500
118,027
112,144
111,931111,353
109,754
108,594
107,654
101,026
98,90890,966
87,94385,836
84,64983,22377,048

バンガード®・トータル・ストック・マーケットETF

*

*
*

*

*

*

*

*,1

*

*

*,1
*

*,1
*

*,1
*,1

Sunnova Energy
International Inc.
Chesapeake UtilitiesCorp.
SJW Group
Middlesex Water Co.
Northwest Natural
Holding Co.
Clearway Energy Inc.
Class A
Harsco Corp.
US Ecology Inc.
Unitil Corp.
York Water Co.
Heritage-Crystal
Clean Inc.
Archaea Energy Inc.
Global Water
Resources Inc.
Artesian Resources
Corp. Class A
Pure Cycle Corp.
RGC Resources Inc.
Aris Water
Solution Inc.
Class A
Vertex Energy Inc.
Via Renewables Inc.
Class A
Sharps Compliance
Corp.
Genie Energy Ltd.
Class B
Advanced Emissions
Solutions Inc.
Cadiz Inc.
Quest Resource
Holding Corp.
Aqua Metals Inc.
Perma-Fix
Environmental
Services Inc.
Charah Solutions Inc.
RenovareEnvironmental Inc.

SharesMarketValue($000)

2,554,388

71,318475,358
842,777
470,857

69,312
61,691
56,644

874,533

42,6601,185,258
2,234,958
886,627
447,308386,277

39,682
37,34628,31920,572
19,229487,014685,300

15,594
12,527666,392

11,395

233,644
577,124
289,761

10,8258,426
6,667

491,258
1,350,091

6,362
6,116

367,644

4,202

501,400

3,575

635,893

3,542

447,249
757,002

2,961
2,922

392,752
1,740,923

2,726
2,141

325,244
316,062

2,059
1,495

612,155

429
37,539,424

Total Common Stocks(Cost $573,421,149)

Air T Funding Pfd.,
8.000%, 6/7/24

1,727

42
5,310

Face
Amount($000)
Corporate Bonds (0.0%)
Financials (0.0%)
GAMCO
Investors Inc.,
4.000%,6/15/23(Cost $296)

296

293

SharesTemporary Cash Investments (0.6%)
Money Market Fund (0.6%)
3,4
Vanguard Market
Liquidity Fund,
0.090%(Cost $8,611,890) 86,130,993
Total Investments(100.2%)(Cost $582,033,371)
Other Assets andLiabilities—Net (-0.2%)
Net Assets (100%)

8,612,238

1,376,771,893(3,359,041)
1,373,412,852

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 $3,987,307,000.
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 $4,364,700,000 was received for securities on
loan, of which $4,338,017,000 is held in Vanguard Market
Liquidity Fund and $26,683,000 is held in cash.
CVR—Contingent Value Rights.
REIT—Real Estate Investment Trust.

1,368,154,052

3,488,956

MarketValue($000)

Total Preferred Stocks(Cost $36)

Preferred Stocks (0.0%)
Meta Materials Inc.
Pfd., 1/31/22

Shares5,268－ 79 －