# EDGAR Filing Document

**Accession Number:** 0000734383
**File Stem:** 0001752724-23-075048
**Filing Date:** 2023-3
**Character Count:** 19478
**Document Hash:** 4bd09e1b19ff3095923472a794ab5639
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075048.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075048

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD SPECIALIZED FUNDS
- **CENTRAL INDEX KEY:** 0000734383
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03916
- **FILM NUMBER:** 23784137

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD SPECIALIZED FUNDS/
- **DATE OF NAME CHANGE:** 20011121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD SPECIALIZED PORTFOLIOS INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Vanguard Energy Fund (Series ID: S000002921)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000008005 | Investor Shares | VGENX           |
| C000008006 | Admiral Shares  | VGELX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** VANGUARD SPECIALIZED FUNDS

- **b. Investment Company Act file number:** 811-03916

- **c. CIK number of Registrant:** 0000734383

- **d. LEI of Registrant:** 549300OM0CLBHZ9MZW59

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Vanguard Boulevard

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-669-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** VANGUARD ENERGY FUND

- **b. EDGAR series identifier (if any):** S000002921

- **c. LEI of Series:** VL4LNU346I18Y2T57X03

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-01-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $6151895128.23

**Total Liabilities:** $21977893.78

**Net Assets:** $6129917234.45

**Cash Not Reported:** $179301.78

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000008005 | 6.49%                | -3.07%               | 1.66%                |
| Class ID C000008006 | 6.50%                | -3.05%               | 1.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-10724.55               | $334947008.67                              |
| Month 2  | $45979514.76             | $-255047560.61                             |
| Month 3  | $24156717.44             | $66634285.98                               |

### Schedule of Portfolio Investments

| Name                                              | Title                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Power Grid Corp of India Ltd                      | POWER GRID CORP                | CUSIP: N/A<br>LEI: 3358009SHWZ3DZEQ4Z56       | Long             | EC               | CORP              | IN        |  37222540 | NS      | $98779155.46  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                  | DUKE ENERGY CORP               | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |   1751647 | NS      | $179456235.15 | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                    | TC ENERGY CORP                 | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | US        |    398407 | NS      | $17187277.98  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                    | CONOCOPHILLIPS                 | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   3719886 | NS      | $453342506.82 | 7.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                                   | SOUTHERN CO                    | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |   2087721 | NS      | $141296957.28 | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp                         | CONSTELLATION EN               | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |    970349 | NS      | $82828990.64  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                         | SHELL PLC-ADR                  | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | US        |   3863908 | NS      | $227236429.48 | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| China Yangtze Power Co Ltd                        | CHINA YANGTZE-A                | CUSIP: N/A<br>LEI: 3003008VX8JFJXA6QP74       | Long             | EC               | CORP              | CN        |  13244460 | NS      | $40792934.84  | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                | NEXTERA ENERGY                 | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2085079 | NS      | $155609445.77 | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                          | ENGIE                          | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |  12909716 | NS      | $183316364.43 | 2.99%             |  |  |  | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                    | AMERICAN ELECTRI               | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |   1313994 | NS      | $123462876.24 | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Ltd                                  | SCHLUMBERGER LTD               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |   1519225 | NS      | $86565440.50  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                            | BP PLC-ADR                     | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | US        |   3529398 | NS      | $127870089.54 | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |   1097977 | NS      | $109786673.23 | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Avangrid Inc                                      | AVANGRID INC                   | CUSIP: 05351W103<br>LEI: 549300OX0Q38NLSKPB49 | Long             | EC               | CORP              | US        |   1106747 | NS      | $46671520.99  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra Energy                                     | SEMPRA ENERGY                  | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |    799397 | NS      | $128167321.01 | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                                  | FIRSTENERGY CORP               | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |   3334765 | NS      | $136558626.75 | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc                                | CENOVUS ENERGY                 | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | US        |   9517662 | NS      | $190162886.76 | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Natural Resources Co                      | PIONEER NATURAL                | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |    188653 | NS      | $43456218.55  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                      | IBERDROLA SA                   | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |  12033572 | NS      | $141175159.30 | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| RWE AG                                            | RWE AG                         | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |   1840525 | NS      | $81938164.63  | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                  | TOTALENER-SP ADR               | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | US        |   2761952 | NS      | $171351502.08 | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                            | BP PLC                         | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |  45226687 | NS      | $273180610.89 | 4.46%             |  |  |  | No            |                  2 | On Loan: No      |
| LUKOIL PJSC                                       | LUKOIL PJSC-ADR                | CUSIP: N/A<br>LEI: 549300LCJ1UJXHYBWI24       | Long             | EC               | CORP              | GB        |   1423477 | NS      | $14.23        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Shell PLC                                         | SHELL PLC                      | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |  11675963 | NS      | $342780342.49 | 5.59%             |  |  |  | No            |                  2 | On Loan: No      |
| ARC Resources Ltd                                 | ARC RESOURCES LT               | CUSIP: 00208D408<br>LEI: FIR47I6FEYKYNJBYW622 | Long             | EC               | CORP              | CA        |   1735762 | NS      | $20168261.64  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                    | TC ENERGY CORP                 | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |    426524 | NS      | $18377829.41  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                  | TOTALENERGIES SE               | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |   4006239 | NS      | $247668950.54 | 4.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Enbridge Inc                                      | ENBRIDGE INC                   | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |   3586487 | NS      | $146850409.05 | 2.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Williams Cos Inc/The                              | WILLIAMS COS INC               | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |   3153024 | NS      | $101653493.76 | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| RBS Securities, Inc.                              | RBS TRIPARTY TREASUR           | CUSIP: N/A<br>LEI: ZE2ZWJ5BTIQJ8M0C6K34       | Long             | RA               | CORP              | US        |  62900000 | PA      | $62900000.00  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                           | MARATHON PETROLE               | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |   3629400 | NS      | $466450488.00 | 7.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                            | CENTERPOINT ENER               | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   2528118 | NS      | $76146914.16  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                            | PETROBRAS                      | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |  10733525 | NS      | $62291363.10  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                            | DIAMONDBACK ENER               | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |   1114821 | NS      | $162897644.52 | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                                | COTERRA ENERGY I               | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |   6120212 | NS      | $153188906.36 | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                          | ENEL SPA                       | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |  15780455 | NS      | $92917234.17  | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources Inc                                 | EOG RESOURCES                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |   1167829 | NS      | $154445385.25 | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                              | EDISON INTL                    | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |   1746546 | NS      | $120337019.40 | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                      | IBERDROLA INTERIM JAN 23       | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |    201835 | NS      | $2357726.19   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Targa Resources Corp                              | TARGA RESOURCES                | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |    983114 | NS      | $73753212.28  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                                        | TENARIS SA                     | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | IT        |   6229860 | NS      | $110397833.60 | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| First Solar Inc                                   | FIRST SOLAR INC                | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |    354172 | NS      | $62900947.20  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                                       | EQUINOR ASA                    | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |   3973475 | NS      | $121098261.14 | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Exelon Corp                                       | EXELON CORP                    | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |   3768354 | NS      | $158986855.26 | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                                 | NATIONAL GRID PL               | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |   8844571 | NS      | $112440169.96 | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp                            | CHESAPEAKE ENERG               | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |   1511032 | NS      | $131036695.04 | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-30

**Name of Applicant:** VANGUARD SPECIALIZED FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer