# EDGAR Filing Document

**Accession Number:** 0000891190
**File Stem:** 0001104659-26-050528
**Filing Date:** 2026-4
**Character Count:** 772810
**Document Hash:** 40f2381340424a2e5edbe4d28233612e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-050528.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001104659-26-050528

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 22

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260428

**EFFECTIVENESS DATE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD ADMIRAL FUNDS
- **CENTRAL INDEX KEY:** 0000891190

**ORGANIZATION NAME:**
- **EIN:** 232696041
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07043
- **FILM NUMBER:** 26909620

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 2600, V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 2600  V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD ADMIRAL FUNDS INC
- **DATE OF NAME CHANGE:** 19920908

## Series and Classes Contracts Data

### Vanguard S&P 500 Growth Index Fund (Series ID: S000030012)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092034 | ETF Shares           | VOOG            |
| C000092035 | Institutional Shares | VSPGX           |

### Vanguard S&P 500 Value Index Fund (Series ID: S000030013)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092036 | ETF Shares           | VOOV            |
| C000092037 | Institutional Shares | VSPVX           |

### Vanguard S&P Mid-Cap 400 Index Fund (Series ID: S000030014)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092038 | ETF Shares           | IVOO            |
| C000092039 | Institutional Shares | VSPMX           |

### Vanguard S&P Mid-Cap 400 Value Index Fund (Series ID: S000030015)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092040 | ETF Shares           | IVOV            |
| C000092041 | Institutional Shares | VMFVX           |

### Vanguard S&P Mid-Cap 400 Growth Index Fund (Series ID: S000030016)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092042 | Institutional Shares | VMFGX           |
| C000092043 | ETF Shares           | IVOG            |

### Vanguard S&P Small-Cap 600 Index Fund (Series ID: S000030017)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092044 | ETF Shares           | VIOO            |
| C000092045 | Institutional Shares | VSMSX           |

### Vanguard S&P Small-Cap 600 Growth Index Fund (Series ID: S000030018)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000092046 | ETF Shares   | VIOG            |

### Vanguard S&P Small-Cap 600 Value Index Fund (Series ID: S000030019)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092048 | ETF Shares           | VIOV            |
| C000092049 | Institutional Shares | VSMVX           |

?xml version='1.0' encoding='ASCII'? 5972e503-7011-4d02-85cc-6025ca0cda95

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT** 

**OF** 

**REGISTERED MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number**: 811-07043**

---

| | |
|:---|:---|
| Name of Registrant: | **Vanguard Admiral Funds** |
| Address of Registrant: | **P.O. Box 2600** |
|  | **Valley Forge, PA 19482** |

---

---

| | |
|:---|:---|
| Name and address of agent for service: | **Natalie Lamarque, Esquire** |
|  | **P.O. Box 876** |
|  | **Valley Forge, PA 19482** |

---

Registrant's telephone number, including area code: **(610) 669-1000**

Date of fiscal year end: August 31

Date of reporting period: September 1, 2025—February 28, 2026

**Item 1: Reports to Shareholders.**

**TABLE OF CONTENTS**

---

| |
|:---|
|  [Vanguard S&P 500 Value Index Fund](#classname9a1410f2-b461-4fca-a8b8-c8292547c713)<br> **[ETF Shares - VOOV](#classname9a1410f2-b461-4fca-a8b8-c8292547c713)**  |
|  [Vanguard S&P 500 Value Index Fund](#classname500ae1fc-44fa-46c8-9e45-c2a39d80bb2a)<br> **[Institutional Shares - VSPVX](#classname500ae1fc-44fa-46c8-9e45-c2a39d80bb2a)**  |
|  [Vanguard S&P 500 Growth Index Fund](#classname1601ba5c-d6d7-4adb-bea3-13ea66ea7146)<br> **[ETF Shares - VOOG](#classname1601ba5c-d6d7-4adb-bea3-13ea66ea7146)**  |
|  [Vanguard S&P 500 Growth Index Fund](#classname4279ba38-e83d-427c-a668-432ea83b2fed)<br> **[Institutional Shares - VSPGX](#classname4279ba38-e83d-427c-a668-432ea83b2fed)**  |
|  [Vanguard S&P Mid-Cap 400 Index Fund](#classnamee2d36314-2e5d-4ac6-99b5-4c29ba4e20df)<br> **[ETF Shares - IVOO](#classnamee2d36314-2e5d-4ac6-99b5-4c29ba4e20df)**  |
|  [Vanguard S&P Mid-Cap 400 Index Fund](#classname422257d3-5b71-4ddc-8568-50c6d67d31b0)<br> **[Institutional Shares - VSPMX](#classname422257d3-5b71-4ddc-8568-50c6d67d31b0)**  |
|  [Vanguard S&P Mid-Cap 400 Value Index Fund](#classname8bdfc06b-21b4-4e7f-851e-80a4d9e0fd63)<br> **[ETF Shares - IVOV](#classname8bdfc06b-21b4-4e7f-851e-80a4d9e0fd63)**  |
|  [Vanguard S&P Mid-Cap 400 Value Index Fund](#classname987b7ab6-0382-46c0-8e68-72cc9ad3395f)<br> **[Institutional Shares - VMFVX](#classname987b7ab6-0382-46c0-8e68-72cc9ad3395f)**  |
|  [Vanguard S&P Mid-Cap 400 Growth Index Fund](#classname6ede80e1-6ffd-4cdb-9c35-d01d49b81472)<br> **[ETF Shares - IVOG](#classname6ede80e1-6ffd-4cdb-9c35-d01d49b81472)**  |
|  [Vanguard S&P Mid-Cap 400 Growth Index Fund](#classname4e1c4d66-b19f-4fe1-892f-8e67c3338cc7)<br> **[Institutional Shares - VMFGX](#classname4e1c4d66-b19f-4fe1-892f-8e67c3338cc7)**  |
|  [Vanguard S&P Small-Cap 600 Index Fund](#classnamee43a2c78-b052-43be-8784-e36461662510)<br> **[ETF Shares - VIOO](#classnamee43a2c78-b052-43be-8784-e36461662510)**  |
|  [Vanguard S&P Small-Cap 600 Index Fund](#classnamed65d9a3d-e6a7-4659-a180-00c9fe99965d)<br> **[Institutional Shares - VSMSX](#classnamed65d9a3d-e6a7-4659-a180-00c9fe99965d)**  |
|  [Vanguard S&P Small-Cap 600 Value Index Fund](#classnameb3c373e1-e3fa-4ee4-b2e7-39784a25aae7)<br> **[ETF Shares - VIOV](#classnameb3c373e1-e3fa-4ee4-b2e7-39784a25aae7)**  |
|  [Vanguard S&P Small-Cap 600 Value Index Fund](#classnamea4f08f3b-6e45-439c-86f2-bdca1308ffd5)<br> **[Institutional Shares - VSMVX](#classnamea4f08f3b-6e45-439c-86f2-bdca1308ffd5)**  |
|  [Vanguard S&P Small-Cap 600 Growth Index Fund](#classnamef328a669-dcbc-4d12-9ab9-cc3b88ca942b)<br> **[ETF Shares - VIOG](#classnamef328a669-dcbc-4d12-9ab9-cc3b88ca942b)**  |

---

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P 500 Value Index Fund

#### ETF Shares (VOOV) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P 500 Value Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $40.07%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $6515 |
| Number of Portfolio Holdings | 456 |
| Portfolio Turnover Rate | 23% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 3.6% |
| Consumer Discretionary | 10.6% |
| Consumer Staples | 10.0% |
| Energy | 7.2% |
| Financials | 15.3% |
| Health Care | 12.7% |
| Industrials | 11.8% |
| Information Technology | 16.5% |
| Materials | 3.9% |
| Real Estate | 3.4% |
| Utilities | 4.6% |
| Other Assets and Liabilities—Net | 0.4% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Direct Investor Account Services** • 800-662-2739

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR3340

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P 500 Value Index Fund

#### Institutional Shares (VSPVX)
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P 500 Value Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| Institutional Shares | $30.05%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $6515 |
| Number of Portfolio Holdings | 456 |
| Portfolio Turnover Rate | 23% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 3.6% |
| Consumer Discretionary | 10.6% |
| Consumer Staples | 10.0% |
| Energy | 7.2% |
| Financials | 15.3% |
| Health Care | 12.7% |
| Industrials | 11.8% |
| Information Technology | 16.5% |
| Materials | 3.9% |
| Real Estate | 3.4% |
| Utilities | 4.6% |
| Other Assets and Liabilities—Net | 0.4% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Institutional Investor Services** • 800-523-1036

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR1840

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P 500 Growth Index Fund

#### ETF Shares (VOOG) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P 500 Growth Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $40.07%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $21898 |
| Number of Portfolio Holdings | 145 |
| Portfolio Turnover Rate | 19% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 17.0% |
| Consumer Discretionary | 9.3% |
| Consumer Staples | 1.2% |
| Financials | 9.6% |
| Health Care | 7.2% |
| Industrials | 6.7% |
| Information Technology | 47.2% |
| Materials | 0.5% |
| Real Estate | 0.6% |
| Utilities | 0.5% |
| Other Assets and Liabilities—Net | 0.2% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Direct Investor Account Services** • 800-662-2739

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR3341

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P 500 Growth Index Fund

#### Institutional Shares (VSPGX)
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P 500 Growth Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| Institutional Shares | $30.05%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $21898 |
| Number of Portfolio Holdings | 145 |
| Portfolio Turnover Rate | 19% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 17.0% |
| Consumer Discretionary | 9.3% |
| Consumer Staples | 1.2% |
| Financials | 9.6% |
| Health Care | 7.2% |
| Industrials | 6.7% |
| Information Technology | 47.2% |
| Materials | 0.5% |
| Real Estate | 0.6% |
| Utilities | 0.5% |
| Other Assets and Liabilities—Net | 0.2% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Institutional Investor Services** • 800-523-1036

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR1841

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Mid-Cap 400 Index Fund

#### ETF Shares (IVOO) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Mid-Cap 400 Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $40.07%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $5255 |
| Number of Portfolio Holdings | 405 |
| Portfolio Turnover Rate | 8% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 1.5% |
| Consumer Discretionary | 11.1% |
| Consumer Staples | 4.5% |
| Energy | 4.6% |
| Financials | 14.5% |
| Health Care | 8.6% |
| Industrials | 25.5% |
| Information Technology | 14.1% |
| Materials | 5.7% |
| Real Estate | 6.6% |
| Utilities | 3.2% |
| Other Assets and Liabilities—Net | 0.1% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Direct Investor Account Services** • 800-662-2739

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR3342

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Mid-Cap 400 Index Fund

#### Institutional Shares (VSPMX)
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Mid-Cap 400 Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| Institutional Shares | $20.03%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $5255 |
| Number of Portfolio Holdings | 405 |
| Portfolio Turnover Rate | 8% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 1.5% |
| Consumer Discretionary | 11.1% |
| Consumer Staples | 4.5% |
| Energy | 4.6% |
| Financials | 14.5% |
| Health Care | 8.6% |
| Industrials | 25.5% |
| Information Technology | 14.1% |
| Materials | 5.7% |
| Real Estate | 6.6% |
| Utilities | 3.2% |
| Other Assets and Liabilities—Net | 0.1% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Institutional Investor Services** • 800-523-1036

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR1842

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Mid-Cap 400 Value Index Fund

#### ETF Shares (IVOV) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Mid-Cap 400 Value Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $50.10%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $1366 |
| Number of Portfolio Holdings | 307 |
| Portfolio Turnover Rate | 32% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 0.5% |
| Consumer Discretionary | 12.8% |
| Consumer Staples | 6.1% |
| Energy | 6.3% |
| Financials | 22.8% |
| Health Care | 3.2% |
| Industrials | 20.2% |
| Information Technology | 7.0% |
| Materials | 8.2% |
| Real Estate | 8.3% |
| Utilities | 4.4% |
| Other Assets and Liabilities—Net | 0.2% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Direct Investor Account Services** • 800-662-2739

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR3344

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Mid-Cap 400 Value Index Fund

#### Institutional Shares (VMFVX)
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Mid-Cap 400 Value Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| Institutional Shares | $20.03%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $1366 |
| Number of Portfolio Holdings | 307 |
| Portfolio Turnover Rate | 32% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 0.5% |
| Consumer Discretionary | 12.8% |
| Consumer Staples | 6.1% |
| Energy | 6.3% |
| Financials | 22.8% |
| Health Care | 3.2% |
| Industrials | 20.2% |
| Information Technology | 7.0% |
| Materials | 8.2% |
| Real Estate | 8.3% |
| Utilities | 4.4% |
| Other Assets and Liabilities—Net | 0.2% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Institutional Investor Services** • 800-523-1036

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR1844

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Mid-Cap 400 Growth Index Fund

#### ETF Shares (IVOG) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Mid-Cap 400 Growth Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $50.10%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $1637 |
| Number of Portfolio Holdings | 242 |
| Portfolio Turnover Rate | 36% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 2.4% |
| Consumer Discretionary | 9.6% |
| Consumer Staples | 3.0% |
| Energy | 3.0% |
| Financials | 6.9% |
| Health Care | 13.5% |
| Industrials | 30.5% |
| Information Technology | 20.5% |
| Materials | 3.4% |
| Real Estate | 4.9% |
| Utilities | 2.2% |
| Other Assets and Liabilities—Net | 0.1% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Direct Investor Account Services** • 800-662-2739

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR3343

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Mid-Cap 400 Growth Index Fund

#### Institutional Shares (VMFGX)
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Mid-Cap 400 Growth Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| Institutional Shares | $20.03%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $1637 |
| Number of Portfolio Holdings | 242 |
| Portfolio Turnover Rate | 36% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 2.4% |
| Consumer Discretionary | 9.6% |
| Consumer Staples | 3.0% |
| Energy | 3.0% |
| Financials | 6.9% |
| Health Care | 13.5% |
| Industrials | 30.5% |
| Information Technology | 20.5% |
| Materials | 3.4% |
| Real Estate | 4.9% |
| Utilities | 2.2% |
| Other Assets and Liabilities—Net | 0.1% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Institutional Investor Services** • 800-523-1036

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR1843

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Small-Cap 600 Index Fund

#### ETF Shares (VIOO) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Small-Cap 600 Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $40.07%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $5407 |
| Number of Portfolio Holdings | 608 |
| Portfolio Turnover Rate | 15% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 3.1% |
| Consumer Discretionary | 14.1% |
| Consumer Staples | 2.5% |
| Energy | 5.5% |
| Financials | 17.5% |
| Health Care | 10.8% |
| Industrials | 17.8% |
| Information Technology | 13.3% |
| Materials | 5.9% |
| Real Estate | 7.1% |
| Utilities | 2.3% |
| Other Assets and Liabilities—Net | 0.1% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Direct Investor Account Services** • 800-662-2739

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR3345

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Small-Cap 600 Index Fund

#### Institutional Shares (VSMSX)
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Small-Cap 600 Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| Institutional Shares | $20.03%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $5407 |
| Number of Portfolio Holdings | 608 |
| Portfolio Turnover Rate | 15% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 3.1% |
| Consumer Discretionary | 14.1% |
| Consumer Staples | 2.5% |
| Energy | 5.5% |
| Financials | 17.5% |
| Health Care | 10.8% |
| Industrials | 17.8% |
| Information Technology | 13.3% |
| Materials | 5.9% |
| Real Estate | 7.1% |
| Utilities | 2.3% |
| Other Assets and Liabilities—Net | 0.1% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Institutional Investor Services** • 800-523-1036

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR1845

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Small-Cap 600 Value Index Fund

#### ETF Shares (VIOV) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Small-Cap 600 Value Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $50.10%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $1715 |
| Number of Portfolio Holdings | 464 |
| Portfolio Turnover Rate | 37% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 3.8% |
| Consumer Discretionary | 17.4% |
| Consumer Staples | 2.7% |
| Energy | 7.2% |
| Financials | 21.1% |
| Health Care | 6.9% |
| Industrials | 13.8% |
| Information Technology | 9.1% |
| Materials | 7.9% |
| Real Estate | 7.2% |
| Utilities | 2.6% |
| Other Assets and Liabilities—Net | 0.3% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Direct Investor Account Services** • 800-662-2739

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR3346

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Small-Cap 600 Value Index Fund

#### Institutional Shares (VSMVX)
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Small-Cap 600 Value Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| Institutional Shares | $20.03%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $1715 |
| Number of Portfolio Holdings | 464 |
| Portfolio Turnover Rate | 37% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 3.8% |
| Consumer Discretionary | 17.4% |
| Consumer Staples | 2.7% |
| Energy | 7.2% |
| Financials | 21.1% |
| Health Care | 6.9% |
| Industrials | 13.8% |
| Information Technology | 9.1% |
| Materials | 7.9% |
| Real Estate | 7.2% |
| Utilities | 2.6% |
| Other Assets and Liabilities—Net | 0.3% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

 **Connect with Vanguard** <sup>**<sup>®</sup>**</sup> • vanguard.com

 **Fund Information** • 800-662-7447

 **Institutional Investor Services** • 800-523-1036

 **Text Telephone for People Who Are Deaf or Hard of Hearing** • 800-749-7273© 2026 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR1846

![Logo](tm268191d2_tsrimg001.jpg)

#### Vanguard S&P Small-Cap 600 Growth Index Fund

#### ETF Shares (VIOG) NYSE Arca
Semi-Annual Shareholder Report \| February 28, 2026

------

This semi-annual shareholder report contains important information about Vanguard S&P Small-Cap 600 Growth Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447. **The report describes changes to the Fund that occurred during the reporting period.**

#### What were the Fund costs for the last six months?
*(based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** |
| ETF Shares | $50.10%<sup><sup>1</sup></sup> |

---

<sup>1</sup> Annualized.

---

| | |
|:---|:---|
| **Fund Statistics<br>(as of February 28, 2026)** |  |
| Fund Net Assets<br>(in millions) | $892 |
| Number of Portfolio Holdings | 342 |
| Portfolio Turnover Rate | 35% |

---

---

| | |
|:---|:---|
| **Portfolio Composition % of Net Assets<br>(as of February 28, 2026)** |  |
| Communication Services | 2.4% |
| Consumer Discretionary | 10.7% |
| Consumer Staples | 2.3% |
| Energy | 3.9% |
| Financials | 14.0% |
| Health Care | 14.7% |
| Industrials | 21.6% |
| Information Technology | 17.2% |
| Materials | 3.9% |
| Real Estate | 7.0% |
| Utilities | 2.0% |
| Other Assets and Liabilities—Net | 0.3% |
| **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** | **This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.** |

---

#### How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.

This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund's prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.

#### Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

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SR3347

**Item 2: Code of Ethics.**

Not applicable.

**Item 3**: **Audit Committee Financial Expert.**

Not applicable.

**Item 4**: **Principal Accountant Fees and Services.**

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**Item 5: Audit Committee of Listed Registrants.**

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**Item 6**: **Investments.**

Not applicable. The complete schedule of investments is included in the financial statements filed under Item 7 of this Form.

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

![](tm268191d2midcap400indfui001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P Mid-Cap 400 Index Fund

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Contents

Financial Statements 1 <br>

------

S&P Mid-Cap 400 Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.9%)** | **Common Stocks (99.9%)** | **Common Stocks (99.9%)** | **Common Stocks (99.9%)** |
| **Communication Services (1.5%)** | **Communication Services (1.5%)** | **Communication Services (1.5%)** | **Communication Services (1.5%)** |
| <sup>\*,1</sup> | EchoStar Corp. Class A | &nbsp;&nbsp;204894 | &nbsp;&nbsp;23671 |
|  | New York Times Co. Class A | &nbsp;&nbsp;245942 | &nbsp;&nbsp;19624 |
| <sup>\*</sup> | Pinterest Inc. Class A | &nbsp;&nbsp;907039 | &nbsp;&nbsp;15538 |
|  | Nexstar Media Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;43401 | &nbsp;&nbsp;10894 |
|  | Warner Music Group Corp. Class A | &nbsp;&nbsp;221811 | &nbsp;&nbsp;&nbsp;&nbsp;6344 |
| <sup>\*</sup> | ZoomInfo Technologies Inc. Class A | &nbsp;&nbsp;417881 | &nbsp;&nbsp;&nbsp;&nbsp;2595 |
|  |  |  | &nbsp;&nbsp;**78666** |
| **Consumer Discretionary (11.1%)** | **Consumer Discretionary (11.1%)** | **Consumer Discretionary (11.1%)** | **Consumer Discretionary (11.1%)** |
| <sup>\*</sup> | Burlington Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94793 | &nbsp;&nbsp;29089 |
|  | Somnigroup International Inc. | &nbsp;&nbsp;319504 | &nbsp;&nbsp;28599 |
|  | Toll Brothers Inc. | &nbsp;&nbsp;146734 | &nbsp;&nbsp;23072 |
|  | Dick's Sporting Goods Inc. | &nbsp;&nbsp;100627 | &nbsp;&nbsp;20491 |
| <sup>\*</sup> | TopBuild Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42494 | &nbsp;&nbsp;19050 |
| <sup>\*</sup> | Five Below Inc. | &nbsp;&nbsp;&nbsp;&nbsp;83948 | &nbsp;&nbsp;18765 |
|  | BorgWarner Inc. | &nbsp;&nbsp;325587 | &nbsp;&nbsp;18744 |
|  | Texas Roadhouse Inc. Class A | &nbsp;&nbsp;100678 | &nbsp;&nbsp;18411 |
|  | Service Corp. International | &nbsp;&nbsp;213438 | &nbsp;&nbsp;17967 |
|  | Aramark | &nbsp;&nbsp;400099 | &nbsp;&nbsp;16744 |
| <sup>\*</sup> | GameStop Corp. Class A | &nbsp;&nbsp;627270 | &nbsp;&nbsp;15073 |
|  | Autoliv Inc. | &nbsp;&nbsp;106366 | &nbsp;&nbsp;12607 |
| <sup>\*</sup> | Cava Group Inc. | &nbsp;&nbsp;151841 | &nbsp;&nbsp;12522 |
| <sup>\*</sup> | Floor & Decor Holdings Inc. Class A | &nbsp;&nbsp;164064 | &nbsp;&nbsp;11335 |
|  | Wingstop Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42292 | &nbsp;&nbsp;10975 |
| <sup>\*</sup> | Planet Fitness Inc. Class A | &nbsp;&nbsp;126316 | &nbsp;&nbsp;10377 |
| <sup>\*</sup> | Dutch Bros Inc. Class A | &nbsp;&nbsp;193371 | &nbsp;&nbsp;10367 |
|  | Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;78946 | &nbsp;&nbsp;10362 |
|  | Lithia Motors Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;36922 | &nbsp;&nbsp;10323 |
|  | Hyatt Hotels Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;63654 | &nbsp;&nbsp;10280 |
|  | Murphy USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25955 | &nbsp;&nbsp;10142 |
| <sup>\*</sup> | Ollie's Bargain Outlet Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93349 | &nbsp;&nbsp;&nbsp;&nbsp;9998 |
| <sup>\*</sup> | Taylor Morrison Home Corp. Class A | &nbsp;&nbsp;148813 | &nbsp;&nbsp;&nbsp;&nbsp;9805 |
|  | VF Corp. | &nbsp;&nbsp;499654 | &nbsp;&nbsp;&nbsp;&nbsp;9703 |
|  | Gap Inc. | &nbsp;&nbsp;344582 | &nbsp;&nbsp;&nbsp;&nbsp;9662 |
|  | Wyndham Hotels & Resorts Inc. | &nbsp;&nbsp;115016 | &nbsp;&nbsp;&nbsp;&nbsp;9408 |
| <sup>\*</sup> | Chewy Inc. Class A | &nbsp;&nbsp;342627 | &nbsp;&nbsp;&nbsp;&nbsp;9395 |
|  | Churchill Downs Inc. | &nbsp;&nbsp;100845 | &nbsp;&nbsp;&nbsp;&nbsp;9271 |
| <sup>\*</sup> | AutoNation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41629 | &nbsp;&nbsp;&nbsp;&nbsp;8124 |
|  | Macy's Inc. | &nbsp;&nbsp;408758 | &nbsp;&nbsp;&nbsp;&nbsp;8085 |
| <sup>\*</sup> | Mattel Inc. | &nbsp;&nbsp;473252 | &nbsp;&nbsp;&nbsp;&nbsp;8022 |
|  | Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp;99002 | &nbsp;&nbsp;&nbsp;&nbsp;7883 |
|  | Gentex Corp. | &nbsp;&nbsp;333179 | &nbsp;&nbsp;&nbsp;&nbsp;7796 |
|  | Thor Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80117 | &nbsp;&nbsp;&nbsp;&nbsp;7702 |
|  | Vail Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54701 | &nbsp;&nbsp;&nbsp;&nbsp;7429 |
|  | Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;87945 | &nbsp;&nbsp;&nbsp;&nbsp;7320 |
| <sup>\*</sup> | Valvoline Inc. | &nbsp;&nbsp;193361 | &nbsp;&nbsp;&nbsp;&nbsp;7309 |
|  | Travel + Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;97859 | &nbsp;&nbsp;&nbsp;&nbsp;7212 |
| <sup>\*</sup> | Crocs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78957 | &nbsp;&nbsp;&nbsp;&nbsp;7162 |
|  | Bath & Body Works Inc. | &nbsp;&nbsp;313631 | &nbsp;&nbsp;&nbsp;&nbsp;7138 |
| <sup>\*</sup> | Abercrombie & Fitch Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;71608 | &nbsp;&nbsp;&nbsp;&nbsp;7003 |
| <sup>\*</sup> | Grand Canyon Education Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42027 | &nbsp;&nbsp;&nbsp;&nbsp;6685 |
| <sup>1</sup> | Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;95926 | &nbsp;&nbsp;&nbsp;&nbsp;6564 |
|  | KB Home | &nbsp;&nbsp;&nbsp;&nbsp;98482 | &nbsp;&nbsp;&nbsp;&nbsp;6262 |
| <sup>\*</sup> | Duolingo Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;60870 | &nbsp;&nbsp;&nbsp;&nbsp;6148 |
|  | H&R Block Inc. | &nbsp;&nbsp;192276 | &nbsp;&nbsp;&nbsp;&nbsp;5888 |
|  | Graham Holdings Co. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5164 | &nbsp;&nbsp;&nbsp;&nbsp;5439 |
| <sup>\*</sup> | YETI Holdings Inc. | &nbsp;&nbsp;118237 | &nbsp;&nbsp;&nbsp;&nbsp;5168 |
|  | PVH Corp. | &nbsp;&nbsp;&nbsp;&nbsp;73089 | &nbsp;&nbsp;&nbsp;&nbsp;5014 |
|  | Polaris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81211 | &nbsp;&nbsp;&nbsp;&nbsp;4933 |
|  | Penske Automotive Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28001 | &nbsp;&nbsp;&nbsp;&nbsp;4411 |

---

------

S&P Mid-Cap 400 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | Hilton Grand Vacations Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112 |
|  | Visteon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3985 |
| <sup>\*</sup> | RH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3869 |
| <sup>\*</sup> | Capri Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;181946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3732 |
| <sup>\*</sup> | Goodyear Tire & Rubber Co. | &nbsp;&nbsp;&nbsp;&nbsp;435559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593 |
| <sup>1</sup> | Choice Hotels International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3316 |
|  | Harley-Davidson Inc. | &nbsp;&nbsp;&nbsp;&nbsp;180004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3240 |
|  | Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2387 |
|  |  |  | &nbsp;&nbsp;**585468** |
| **Consumer Staples (4.5%)** | **Consumer Staples (4.5%)** | **Consumer Staples (4.5%)** | **Consumer Staples (4.5%)** |
|  | Casey's General Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56592 | &nbsp;&nbsp;&nbsp;&nbsp;38799 |
| <sup>\*</sup> | US Foods Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;339350 | &nbsp;&nbsp;&nbsp;&nbsp;32785 |
| <sup>\*</sup> | Performance Food Group Co. | &nbsp;&nbsp;&nbsp;&nbsp;238694 | &nbsp;&nbsp;&nbsp;&nbsp;23168 |
| <sup>\*</sup> | BJ's Wholesale Club Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;200565 | &nbsp;&nbsp;&nbsp;&nbsp;19814 |
|  | Coca-Cola Consolidated Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86112 | &nbsp;&nbsp;&nbsp;&nbsp;17429 |
| <sup>\*</sup> | Celsius Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;243279 | &nbsp;&nbsp;&nbsp;&nbsp;13042 |
| <sup>\*</sup> | Darling Ingredients Inc. | &nbsp;&nbsp;&nbsp;&nbsp;240781 | &nbsp;&nbsp;&nbsp;&nbsp;12800 |
|  | Ingredion Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96696 | &nbsp;&nbsp;&nbsp;&nbsp;11358 |
| <sup>\*</sup> | Sprouts Farmers Market Inc. | &nbsp;&nbsp;&nbsp;&nbsp;148225 | &nbsp;&nbsp;&nbsp;&nbsp;10949 |
|  | Albertsons Cos. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;602107 | &nbsp;&nbsp;&nbsp;&nbsp;10778 |
| <sup>\*</sup> | Maplebear Inc. | &nbsp;&nbsp;&nbsp;&nbsp;279751 | &nbsp;&nbsp;&nbsp;&nbsp;10493 |
| <sup>\*</sup> | elf Beauty Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8349 |
| <sup>\*</sup> | Post Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7732 |
|  | Marzetti Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5087 |
| <sup>\*</sup> | BellRing Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;192345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3537 |
|  | Flowers Foods Inc. | &nbsp;&nbsp;&nbsp;&nbsp;322630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188 |
|  | Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2809 |
| <sup>\*</sup> | Boston Beer Co. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2648 |
| <sup>\*</sup> | Coty Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;558630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402 |
|  |  |  | &nbsp;&nbsp;**236167** |
| **Energy (4.6%)** | **Energy (4.6%)** | **Energy (4.6%)** | **Energy (4.6%)** |
|  | TechnipFMC plc | &nbsp;&nbsp;&nbsp;&nbsp;615729 | &nbsp;&nbsp;&nbsp;&nbsp;40829 |
|  | Ovintiv Inc. | &nbsp;&nbsp;&nbsp;&nbsp;427276 | &nbsp;&nbsp;&nbsp;&nbsp;21616 |
|  | DT Midstream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;154745 | &nbsp;&nbsp;&nbsp;&nbsp;21485 |
|  | Permian Resources Corp. Class A | &nbsp;&nbsp;1056992 | &nbsp;&nbsp;&nbsp;&nbsp;19332 |
| <sup>\*</sup> | Antero Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;446116 | &nbsp;&nbsp;&nbsp;&nbsp;16422 |
|  | Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;360667 | &nbsp;&nbsp;&nbsp;&nbsp;14888 |
|  | Viper Energy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;256381 | &nbsp;&nbsp;&nbsp;&nbsp;11932 |
|  | HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;&nbsp;237993 | &nbsp;&nbsp;&nbsp;&nbsp;11902 |
|  | Weatherford International plc | &nbsp;&nbsp;&nbsp;&nbsp;109194 | &nbsp;&nbsp;&nbsp;&nbsp;11516 |
|  | Antero Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;507425 | &nbsp;&nbsp;&nbsp;&nbsp;11407 |
|  | NOV Inc. | &nbsp;&nbsp;&nbsp;&nbsp;555403 | &nbsp;&nbsp;&nbsp;&nbsp;11253 |
| <sup>\*</sup> | Valaris Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9427 |
|  | Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9382 |
|  | Matador Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;177791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9138 |
| <sup>\*</sup> | CNX Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;205202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8573 |
|  | Murphy Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;204025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6763 |
|  | PBF Energy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;125250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459 |
|  | SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  | &nbsp;&nbsp;**240324** |
| **Financials (14.5%)** | **Financials (14.5%)** | **Financials (14.5%)** | **Financials (14.5%)** |
|  | Annaly Capital Management Inc. | &nbsp;&nbsp;1039535 | &nbsp;&nbsp;&nbsp;&nbsp;24159 |
|  | East West Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;209422 | &nbsp;&nbsp;&nbsp;&nbsp;22921 |
|  | Reinsurance Group of America Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100026 | &nbsp;&nbsp;&nbsp;&nbsp;21579 |
|  | RenaissanceRe Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70183 | &nbsp;&nbsp;&nbsp;&nbsp;21228 |
|  | Pinnacle Financial Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;227748 | &nbsp;&nbsp;&nbsp;&nbsp;20670 |
|  | Carlyle Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;394989 | &nbsp;&nbsp;&nbsp;&nbsp;20535 |
|  | Fidelity National Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;387925 | &nbsp;&nbsp;&nbsp;&nbsp;20513 |
|  | Evercore Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58873 | &nbsp;&nbsp;&nbsp;&nbsp;18182 |
|  | First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;749479 | &nbsp;&nbsp;&nbsp;&nbsp;17830 |
|  | Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;245515 | &nbsp;&nbsp;&nbsp;&nbsp;17709 |
|  | Equitable Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;436183 | &nbsp;&nbsp;&nbsp;&nbsp;17543 |
|  | Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;232505 | &nbsp;&nbsp;&nbsp;&nbsp;17217 |
|  | Ally Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;426735 | &nbsp;&nbsp;&nbsp;&nbsp;16830 |
|  | Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;234318 | &nbsp;&nbsp;&nbsp;&nbsp;16808 |
|  | SouthState Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;153020 | &nbsp;&nbsp;&nbsp;&nbsp;15099 |
|  | Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;346532 | &nbsp;&nbsp;&nbsp;&nbsp;14856 |
|  | Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;101945 | &nbsp;&nbsp;&nbsp;&nbsp;14686 |

---

------

S&P Mid-Cap 400 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | American Financial Group Inc. | &nbsp;&nbsp;105374 | &nbsp;&nbsp;&nbsp;&nbsp;14013 |
|  | Houlihan Lokey Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;82984 | &nbsp;&nbsp;&nbsp;&nbsp;13590 |
|  | Cullen/Frost Bankers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97331 | &nbsp;&nbsp;&nbsp;&nbsp;13453 |
|  | Affiliated Managers Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42824 | &nbsp;&nbsp;&nbsp;&nbsp;13112 |
|  | Kinsale Capital Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33650 | &nbsp;&nbsp;&nbsp;&nbsp;13112 |
|  | Columbia Banking System Inc. | &nbsp;&nbsp;455350 | &nbsp;&nbsp;&nbsp;&nbsp;12955 |
|  | Zions Bancorp NA | &nbsp;&nbsp;224753 | &nbsp;&nbsp;&nbsp;&nbsp;12874 |
|  | Western Alliance Bancorp | &nbsp;&nbsp;157121 | &nbsp;&nbsp;&nbsp;&nbsp;12620 |
|  | UMB Financial Corp. | &nbsp;&nbsp;108689 | &nbsp;&nbsp;&nbsp;&nbsp;12595 |
|  | Primerica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48577 | &nbsp;&nbsp;&nbsp;&nbsp;12322 |
|  | Old National Bancorp | &nbsp;&nbsp;529484 | &nbsp;&nbsp;&nbsp;&nbsp;12231 |
|  | SEI Investments Co. | &nbsp;&nbsp;141668 | &nbsp;&nbsp;&nbsp;&nbsp;11520 |
|  | FirstCash Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59118 | &nbsp;&nbsp;&nbsp;&nbsp;11397 |
|  | Jefferies Financial Group Inc. | &nbsp;&nbsp;251210 | &nbsp;&nbsp;&nbsp;&nbsp;11154 |
|  | First American Financial Corp. | &nbsp;&nbsp;155124 | &nbsp;&nbsp;&nbsp;&nbsp;10876 |
|  | Corebridge Financial Inc. | &nbsp;&nbsp;407000 | &nbsp;&nbsp;&nbsp;&nbsp;10517 |
|  | Prosperity Bancshares Inc. | &nbsp;&nbsp;144620 | &nbsp;&nbsp;&nbsp;&nbsp;10177 |
|  | Commerce Bancshares Inc. | &nbsp;&nbsp;196850 | &nbsp;&nbsp;&nbsp;&nbsp;10037 |
|  | Janus Henderson Group plc | &nbsp;&nbsp;188135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9802 |
|  | Hanover Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9786 |
|  | Voya Financial Inc. | &nbsp;&nbsp;144887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9690 |
|  | Starwood Property Trust Inc. | &nbsp;&nbsp;529795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9436 |
|  | FNB Corp. | &nbsp;&nbsp;545272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9264 |
|  | Valley National Bancorp | &nbsp;&nbsp;730056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9206 |
|  | MGIC Investment Corp. | &nbsp;&nbsp;340666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9038 |
|  | Essent Group Ltd. | &nbsp;&nbsp;147195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8955 |
|  | Glacier Bancorp Inc. | &nbsp;&nbsp;195842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8909 |
|  | United Bankshares Inc. | &nbsp;&nbsp;213268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8808 |
|  | RLI Corp. | &nbsp;&nbsp;139783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8711 |
|  | Hancock Whitney Corp. | &nbsp;&nbsp;127295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8377 |
| <sup>\*</sup> | WEX Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7785 |
|  | Selective Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7727 |
|  | Home BancShares Inc. | &nbsp;&nbsp;278175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7639 |
|  | Bank OZK | &nbsp;&nbsp;161143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7503 |
|  | Ryan Specialty Holdings Inc. Class A | &nbsp;&nbsp;172471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6787 |
|  | Morningstar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6645 |
| <sup>\*</sup> | Texas Capital Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6618 |
|  | Associated Banc-Corp | &nbsp;&nbsp;248787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6570 |
|  | Hamilton Lane Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;62221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6529 |
|  | Federated Hermes Inc. Class B | &nbsp;&nbsp;112319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6291 |
|  | First Financial Bankshares Inc. | &nbsp;&nbsp;198242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6132 |
|  | CNO Financial Group Inc. | &nbsp;&nbsp;144991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6062 |
|  | SLM Corp. | &nbsp;&nbsp;309028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5791 |
|  | Flagstar Bank NA | &nbsp;&nbsp;455212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5777 |
|  | International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5519 |
| <sup>\*</sup> | Brighthouse Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5212 |
| <sup>\*,1</sup> | Shift4 Payments Inc. Class A | &nbsp;&nbsp;102714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4527 |
| <sup>\*</sup> | Euronet Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4146 |
|  | Kemper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2882 |
|  | Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  | &nbsp;&nbsp;**763044** |
| **Health Care (8.6%)** | **Health Care (8.6%)** | **Health Care (8.6%)** | **Health Care (8.6%)** |
| <sup>\*</sup> | United Therapeutics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65534 | &nbsp;&nbsp;&nbsp;&nbsp;33023 |
| <sup>\*</sup> | Tenet Healthcare Corp. | &nbsp;&nbsp;133780 | &nbsp;&nbsp;&nbsp;&nbsp;32026 |
| <sup>\*</sup> | Illumina Inc. | &nbsp;&nbsp;232588 | &nbsp;&nbsp;&nbsp;&nbsp;31274 |
| <sup>\*</sup> | Penumbra Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59609 | &nbsp;&nbsp;&nbsp;&nbsp;20529 |
| <sup>\*</sup> | Neurocrine Biosciences Inc. | &nbsp;&nbsp;151766 | &nbsp;&nbsp;&nbsp;&nbsp;20071 |
| <sup>\*</sup> | Elanco Animal Health Inc. | &nbsp;&nbsp;756285 | &nbsp;&nbsp;&nbsp;&nbsp;19966 |
| <sup>\*</sup> | Roivant Sciences Ltd. | &nbsp;&nbsp;666906 | &nbsp;&nbsp;&nbsp;&nbsp;19300 |
|  | Ensign Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87552 | &nbsp;&nbsp;&nbsp;&nbsp;18751 |
| <sup>\*</sup> | BioMarin Pharmaceutical Inc. | &nbsp;&nbsp;292441 | &nbsp;&nbsp;&nbsp;&nbsp;18052 |
| <sup>\*</sup> | Exelixis Inc. | &nbsp;&nbsp;408104 | &nbsp;&nbsp;&nbsp;&nbsp;17981 |
| <sup>\*</sup> | Jazz Pharmaceuticals plc | &nbsp;&nbsp;&nbsp;&nbsp;92501 | &nbsp;&nbsp;&nbsp;&nbsp;17577 |
|  | Encompass Health Corp. | &nbsp;&nbsp;153181 | &nbsp;&nbsp;&nbsp;&nbsp;16525 |
| <sup>\*</sup> | Globus Medical Inc. Class A | &nbsp;&nbsp;169613 | &nbsp;&nbsp;&nbsp;&nbsp;16191 |
| <sup>\*</sup> | Medpace Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33882 | &nbsp;&nbsp;&nbsp;&nbsp;15307 |
| <sup>\*</sup> | Arrowhead Pharmaceuticals Inc. | &nbsp;&nbsp;210444 | &nbsp;&nbsp;&nbsp;&nbsp;13315 |
| <sup>\*</sup> | Halozyme Therapeutics Inc. | &nbsp;&nbsp;179012 | &nbsp;&nbsp;&nbsp;&nbsp;12447 |
| <sup>\*</sup> | Masimo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69513 | &nbsp;&nbsp;&nbsp;&nbsp;12189 |

---

------

S&P Mid-Cap 400 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | Cytokinetics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;186109 | &nbsp;&nbsp;&nbsp;&nbsp;11580 |
| <sup>\*</sup> | Repligen Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80558 | &nbsp;&nbsp;&nbsp;&nbsp;10370 |
| <sup>\*</sup> | HealthEquity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;131157 | &nbsp;&nbsp;&nbsp;&nbsp;10032 |
| <sup>\*</sup> | Avantor Inc. | &nbsp;&nbsp;1038042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9394 |
|  | Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8843 |
| <sup>\*</sup> | Option Care Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;241575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7841 |
| <sup>\*</sup> | Bio-Rad Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7709 |
| <sup>\*</sup> | Lantheus Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7554 |
| <sup>\*</sup> | Envista Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;250010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7303 |
|  | Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;168712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6767 |
| <sup>\*</sup> | LivaNova plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5858 |
| <sup>\*</sup> | Doximity Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;208965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5126 |
| <sup>\*</sup> | Sotera Health Co. | &nbsp;&nbsp;&nbsp;&nbsp;315136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121 |
| <sup>\*,1</sup> | Hims & Hers Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;316918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4602 |
| <sup>\*</sup> | Haemonetics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4501 |
|  | DENTSPLY SIRONA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;304154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465 |
|  |  |  | &nbsp;&nbsp;**451590** |
| **Industrials (25.5%)** | **Industrials (25.5%)** | **Industrials (25.5%)** | **Industrials (25.5%)** |
|  | Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56129 | &nbsp;&nbsp;&nbsp;&nbsp;39309 |
| <sup>\*</sup> | XPO Inc. | &nbsp;&nbsp;&nbsp;&nbsp;178668 | &nbsp;&nbsp;&nbsp;&nbsp;37604 |
|  | Woodward Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91272 | &nbsp;&nbsp;&nbsp;&nbsp;35300 |
| <sup>\*</sup> | ATI Inc. | &nbsp;&nbsp;&nbsp;&nbsp;206792 | &nbsp;&nbsp;&nbsp;&nbsp;33829 |
|  | Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75831 | &nbsp;&nbsp;&nbsp;&nbsp;30186 |
|  | nVent Electric plc | &nbsp;&nbsp;&nbsp;&nbsp;245589 | &nbsp;&nbsp;&nbsp;&nbsp;29068 |
|  | BWX Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139159 | &nbsp;&nbsp;&nbsp;&nbsp;28664 |
|  | RB Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;282644 | &nbsp;&nbsp;&nbsp;&nbsp;28536 |
| <sup>\*</sup> | MasTec Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93360 | &nbsp;&nbsp;&nbsp;&nbsp;27823 |
| <sup>\*</sup> | RBC Bearings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47912 | &nbsp;&nbsp;&nbsp;&nbsp;27594 |
|  | ITT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;129382 | &nbsp;&nbsp;&nbsp;&nbsp;26188 |
| <sup>\*</sup> | API Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;563393 | &nbsp;&nbsp;&nbsp;&nbsp;25049 |
|  | Carlisle Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63446 | &nbsp;&nbsp;&nbsp;&nbsp;25047 |
|  | Lincoln Electric Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83760 | &nbsp;&nbsp;&nbsp;&nbsp;24043 |
| <sup>\*</sup> | Nextpower Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;225859 | &nbsp;&nbsp;&nbsp;&nbsp;23738 |
|  | Graco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;252335 | &nbsp;&nbsp;&nbsp;&nbsp;23699 |
| <sup>\*</sup> | Kratos Defense & Security Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;269143 | &nbsp;&nbsp;&nbsp;&nbsp;23195 |
| <sup>\*</sup> | Clean Harbors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76451 | &nbsp;&nbsp;&nbsp;&nbsp;22415 |
|  | Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;101059 | &nbsp;&nbsp;&nbsp;&nbsp;22332 |
|  | Watsco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53168 | &nbsp;&nbsp;&nbsp;&nbsp;22189 |
|  | WESCO International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74043 | &nbsp;&nbsp;&nbsp;&nbsp;21435 |
| <sup>\*</sup> | CACI International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33618 | &nbsp;&nbsp;&nbsp;&nbsp;20513 |
| <sup>\*</sup> | Sterling Infrastructure Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46765 | &nbsp;&nbsp;&nbsp;&nbsp;20022 |
|  | Mueller Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;168970 | &nbsp;&nbsp;&nbsp;&nbsp;19932 |
|  | AECOM | &nbsp;&nbsp;&nbsp;&nbsp;201596 | &nbsp;&nbsp;&nbsp;&nbsp;19752 |
|  | Advanced Drainage Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;108892 | &nbsp;&nbsp;&nbsp;&nbsp;18658 |
| <sup>\*</sup> | Dycom Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44066 | &nbsp;&nbsp;&nbsp;&nbsp;18509 |
|  | TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;225631 | &nbsp;&nbsp;&nbsp;&nbsp;17723 |
| <sup>\*</sup> | SPX Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75858 | &nbsp;&nbsp;&nbsp;&nbsp;17215 |
|  | Flowserve Corp. | &nbsp;&nbsp;&nbsp;&nbsp;193482 | &nbsp;&nbsp;&nbsp;&nbsp;17127 |
|  | CNH Industrial NV | &nbsp;&nbsp;1347010 | &nbsp;&nbsp;&nbsp;&nbsp;16568 |
| <sup>\*</sup> | Saia Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40561 | &nbsp;&nbsp;&nbsp;&nbsp;16443 |
|  | Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96276 | &nbsp;&nbsp;&nbsp;&nbsp;16369 |
|  | Donaldson Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;176296 | &nbsp;&nbsp;&nbsp;&nbsp;16353 |
|  | Applied Industrial Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57405 | &nbsp;&nbsp;&nbsp;&nbsp;16222 |
| <sup>\*</sup> | Core & Main Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;290276 | &nbsp;&nbsp;&nbsp;&nbsp;15721 |
|  | Knight-Swift Transportation Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;247133 | &nbsp;&nbsp;&nbsp;&nbsp;15550 |
|  | Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;125112 | &nbsp;&nbsp;&nbsp;&nbsp;15272 |
|  | Crane Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74512 | &nbsp;&nbsp;&nbsp;&nbsp;14942 |
|  | Toro Co. | &nbsp;&nbsp;&nbsp;&nbsp;148965 | &nbsp;&nbsp;&nbsp;&nbsp;14727 |
|  | Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;184663 | &nbsp;&nbsp;&nbsp;&nbsp;14557 |
|  | Tetra Tech Inc. | &nbsp;&nbsp;&nbsp;&nbsp;397947 | &nbsp;&nbsp;&nbsp;&nbsp;14262 |
|  | Acuity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46287 | &nbsp;&nbsp;&nbsp;&nbsp;13960 |
| <sup>\*</sup> | Chart Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67260 | &nbsp;&nbsp;&nbsp;&nbsp;13943 |
|  | Valmont Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29988 | &nbsp;&nbsp;&nbsp;&nbsp;13792 |
|  | Watts Water Technologies Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41712 | &nbsp;&nbsp;&nbsp;&nbsp;13712 |
|  | Ryder System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61460 | &nbsp;&nbsp;&nbsp;&nbsp;13617 |
| <sup>\*</sup> | American Airlines Group Inc. | &nbsp;&nbsp;1004657 | &nbsp;&nbsp;&nbsp;&nbsp;13131 |
|  | AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94273 | &nbsp;&nbsp;&nbsp;&nbsp;12868 |
| <sup>\*</sup> | Fluor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;245354 | &nbsp;&nbsp;&nbsp;&nbsp;12835 |
|  | Simpson Manufacturing Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63106 | &nbsp;&nbsp;&nbsp;&nbsp;12215 |

---

------

S&P Mid-Cap 400 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | AeroVironment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12214 |
| <sup>\*</sup> | Middleby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11913 |
|  | Terex Corp. | &nbsp;&nbsp;172761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11884 |
|  | Hexcel Corp. | &nbsp;&nbsp;121181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11232 |
|  | Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10960 |
| <sup>\*</sup> | GXO Logistics Inc. | &nbsp;&nbsp;174284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10950 |
|  | MSA Safety Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10949 |
| <sup>\*</sup> | Kirby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10709 |
|  | Timken Co. | &nbsp;&nbsp;&nbsp;&nbsp;96500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10459 |
|  | AAON Inc. | &nbsp;&nbsp;103016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10425 |
|  | GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10008 |
|  | Fortune Brands Innovations Inc. | &nbsp;&nbsp;182871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9937 |
|  | Genpact Ltd. | &nbsp;&nbsp;244139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9697 |
|  | UL Solutions Inc. Class A | &nbsp;&nbsp;114509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9615 |
|  | EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;56182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9335 |
|  | UFP Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9126 |
| <sup>\*</sup> | Alaska Air Group Inc. | &nbsp;&nbsp;176540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9110 |
| <sup>\*</sup> | StandardAero Inc. | &nbsp;&nbsp;293852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9051 |
|  | Landstar System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8517 |
|  | Sensata Technologies Holding plc | &nbsp;&nbsp;221680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8278 |
|  | KBR Inc. | &nbsp;&nbsp;193259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8161 |
| <sup>\*</sup> | FTI Consulting Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7573 |
| <sup>\*</sup> | ExlService Holdings Inc. | &nbsp;&nbsp;241450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7545 |
|  | Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;63228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7383 |
| <sup>\*</sup> | Paylocity Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;67061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7141 |
| <sup>\*</sup> | Trex Co. Inc. | &nbsp;&nbsp;163164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6758 |
|  | MSC Industrial Direct Co. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;69581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6530 |
|  | Maximus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;85706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6480 |
|  | Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6458 |
|  | Exponent Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5545 |
| <sup>\*</sup> | Parsons Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340 |
| <sup>\*,1</sup> | Avis Budget Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501 |
|  | Concentrix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;67212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205 |
|  |  |  | &nbsp;&nbsp;**1337742** |
| **Information Technology (14.1%)** | **Information Technology (14.1%)** | **Information Technology (14.1%)** | **Information Technology (14.1%)** |
| <sup>\*</sup> | Lumentum Holdings Inc. | &nbsp;&nbsp;107921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75643 |
| <sup>\*</sup> | Coherent Corp. | &nbsp;&nbsp;239203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61937 |
| <sup>\*</sup> | Flex Ltd. | &nbsp;&nbsp;562901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35474 |
|  | Entegris Inc. | &nbsp;&nbsp;230758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30564 |
| <sup>\*</sup> | Pure Storage Inc. Class A | &nbsp;&nbsp;475242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30520 |
| <sup>\*</sup> | Fabrinet | &nbsp;&nbsp;&nbsp;&nbsp;54531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29754 |
| <sup>\*</sup> | Twilio Inc. Class A | &nbsp;&nbsp;230786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27916 |
|  | MKS Inc. | &nbsp;&nbsp;102240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24994 |
| <sup>\*</sup> | MACOM Technology Solutions Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24188 |
| <sup>\*</sup> | Lattice Semiconductor Corp. | &nbsp;&nbsp;208212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19909 |
|  | Advanced Energy Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19278 |
| <sup>\*</sup> | Guidewire Software Inc. | &nbsp;&nbsp;129459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18813 |
| <sup>\*</sup> | Okta Inc. | &nbsp;&nbsp;256471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18594 |
|  | TD SYNNEX Corp. | &nbsp;&nbsp;115285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18078 |
| <sup>\*</sup> | Dynatrace Inc. | &nbsp;&nbsp;459186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16494 |
| <sup>\*</sup> | TTM Technologies Inc. | &nbsp;&nbsp;157281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16395 |
| <sup>\*</sup> | Rambus Inc. | &nbsp;&nbsp;163872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16332 |
| <sup>\*</sup> | Onto Innovation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16105 |
| <sup>\*</sup> | Nutanix Inc. Class A | &nbsp;&nbsp;412275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15782 |
|  | Cognex Corp. | &nbsp;&nbsp;255129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13879 |
| <sup>\*</sup> | Docusign Inc. | &nbsp;&nbsp;306201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 |
|  | Littelfuse Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13358 |
| <sup>\*</sup> | Manhattan Associates Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12428 |
| <sup>\*</sup> | Arrow Electronics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11932 |
| <sup>\*</sup> | Cirrus Logic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10964 |
| <sup>\*</sup> | Silicon Laboratories Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10230 |
|  | Vontier Corp. | &nbsp;&nbsp;220854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9037 |
|  | Belden Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8569 |
|  | Bentley Systems Inc. Class B | &nbsp;&nbsp;226607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8283 |
|  | Amkor Technology Inc. | &nbsp;&nbsp;173008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8273 |
|  | Avnet Inc. | &nbsp;&nbsp;123784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8150 |
| <sup>\*</sup> | Novanta Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7317 |
|  | Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;67276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7178 |
| <sup>\*</sup> | UiPath Inc. Class A | &nbsp;&nbsp;641874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6887 |

---

------

S&P Mid-Cap 400 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | Allegro MicroSystems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;188678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6881 |
| <sup>\*</sup> | Dropbox Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;265232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6628 |
| <sup>\*</sup> | Appfolio Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235 |
|  | Dolby Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6194 |
|  | Pegasystems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090 |
| <sup>\*</sup> | BILL Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;135396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6026 |
| <sup>\*</sup> | Commvault Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5702 |
| <sup>\*</sup> | IPG Photonics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5069 |
| <sup>\*</sup> | Qualys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5044 |
| <sup>\*</sup> | Synaptics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4825 |
| <sup>\*</sup> | Kyndryl Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;347808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4288 |
|  | Crane NXT Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629 |
| <sup>\*</sup> | ASGN Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2788 |
| <sup>\*</sup> | Blackbaud Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2709 |
|  |  |  | &nbsp;&nbsp;**739163** |
| **Materials (5.7%)** | **Materials (5.7%)** | **Materials (5.7%)** | **Materials (5.7%)** |
|  | Royal Gold Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123326 | &nbsp;&nbsp;&nbsp;&nbsp;36972 |
|  | Hecla Mining Co. | &nbsp;&nbsp;1019961 | &nbsp;&nbsp;&nbsp;&nbsp;25407 |
|  | Reliance Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79588 | &nbsp;&nbsp;&nbsp;&nbsp;25121 |
|  | Alcoa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;394178 | &nbsp;&nbsp;&nbsp;&nbsp;24471 |
|  | RPM International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;195186 | &nbsp;&nbsp;&nbsp;&nbsp;22275 |
|  | Crown Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;173578 | &nbsp;&nbsp;&nbsp;&nbsp;19892 |
|  | AptarGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99905 | &nbsp;&nbsp;&nbsp;&nbsp;14357 |
|  | Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;168908 | &nbsp;&nbsp;&nbsp;&nbsp;12381 |
| <sup>\*,1</sup> | MP Materials Corp. | &nbsp;&nbsp;&nbsp;&nbsp;205028 | &nbsp;&nbsp;&nbsp;&nbsp;12070 |
|  | Eagle Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48824 | &nbsp;&nbsp;&nbsp;&nbsp;10927 |
| <sup>\*</sup> | Axalta Coating Systems Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;324814 | &nbsp;&nbsp;&nbsp;&nbsp;10852 |
| <sup>\*</sup> | Cleveland-Cliffs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;867171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9244 |
|  | Sonoco Products Co. | &nbsp;&nbsp;&nbsp;&nbsp;150138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8478 |
|  | Louisiana-Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8175 |
| <sup>\*</sup> | Knife River Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7667 |
|  | NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7420 |
|  | Silgan Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;133444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6412 |
|  | Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6160 |
|  | Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;139207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5717 |
|  | Graphic Packaging Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;448763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5488 |
|  | Westlake Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5353 |
|  | Scotts Miracle-Gro Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745 |
|  | Olin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;173942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4413 |
|  | Ashland Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4340 |
|  | Greif Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892 |
|  |  |  | &nbsp;&nbsp;**301229** |
| **Real Estate (6.6%)** | **Real Estate (6.6%)** | **Real Estate (6.6%)** | **Real Estate (6.6%)** |
|  | WP Carey Inc. | &nbsp;&nbsp;&nbsp;&nbsp;333553 | &nbsp;&nbsp;&nbsp;&nbsp;24900 |
| <sup>\*</sup> | Jones Lang LaSalle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71840 | &nbsp;&nbsp;&nbsp;&nbsp;22669 |
|  | Omega Healthcare Investors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;449822 | &nbsp;&nbsp;&nbsp;&nbsp;21713 |
|  | Gaming & Leisure Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;430781 | &nbsp;&nbsp;&nbsp;&nbsp;21069 |
|  | Equity LifeStyle Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;295040 | &nbsp;&nbsp;&nbsp;&nbsp;19815 |
|  | Lamar Advertising Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;132216 | &nbsp;&nbsp;&nbsp;&nbsp;18211 |
|  | EastGroup Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81069 | &nbsp;&nbsp;&nbsp;&nbsp;15915 |
|  | American Homes 4 Rent Class A | &nbsp;&nbsp;&nbsp;&nbsp;496288 | &nbsp;&nbsp;&nbsp;&nbsp;14889 |
|  | CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;347143 | &nbsp;&nbsp;&nbsp;&nbsp;14281 |
|  | Brixmor Property Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;465946 | &nbsp;&nbsp;&nbsp;&nbsp;14104 |
|  | American Healthcare REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;269285 | &nbsp;&nbsp;&nbsp;&nbsp;14067 |
|  | Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;174674 | &nbsp;&nbsp;&nbsp;&nbsp;14058 |
|  | Rexford Industrial Realty Inc. | &nbsp;&nbsp;&nbsp;&nbsp;353623 | &nbsp;&nbsp;&nbsp;&nbsp;13250 |
|  | NNN REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;289105 | &nbsp;&nbsp;&nbsp;&nbsp;13102 |
|  | First Industrial Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;201585 | &nbsp;&nbsp;&nbsp;&nbsp;12728 |
|  | STAG Industrial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;284287 | &nbsp;&nbsp;&nbsp;&nbsp;11150 |
|  | Healthcare Realty Trust Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;535240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9875 |
|  | Rayonier Inc. | &nbsp;&nbsp;&nbsp;&nbsp;422993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9090 |
|  | Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;329528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8584 |
|  | Sabra Health Care REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;379355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7796 |
|  | EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;115796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6879 |
|  | Vornado Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;245455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6770 |
|  | Independence Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;362980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6015 |
|  | Cousins Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;255556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5919 |
|  | COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp;171684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5456 |
|  | Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;165463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4934 |

---

------

S&P Mid-Cap 400 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | National Storage Affiliates Trust | &nbsp;&nbsp;107929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780 |
|  | Park Hotels & Resorts Inc. | &nbsp;&nbsp;304669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**344465** |
| **Utilities (3.2%)** | **Utilities (3.2%)** | **Utilities (3.2%)** | **Utilities (3.2%)** |
| <sup>\*</sup> | Talen Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25797 |
|  | Essential Utilities Inc. | &nbsp;&nbsp;430815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17220 |
|  | OGE Energy Corp. | &nbsp;&nbsp;306662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15069 |
|  | National Fuel Gas Co. | &nbsp;&nbsp;137564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12522 |
|  | UGI Corp. | &nbsp;&nbsp;327166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12239 |
|  | IDACORP Inc. | &nbsp;&nbsp;&nbsp;&nbsp;82276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11845 |
|  | Ormat Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9594 |
|  | Portland General Electric Co. | &nbsp;&nbsp;171226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9239 |
|  | TXNM Energy Inc. | &nbsp;&nbsp;149173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8804 |
|  | Southwest Gas Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8621 |
|  | Black Hills Corp. | &nbsp;&nbsp;114867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8461 |
|  | New Jersey Resources Corp. | &nbsp;&nbsp;152903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8294 |
|  | Spire Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8228 |
|  | ONE Gas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7984 |
|  | Northwestern Energy Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6534 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**170451** |
| **Total Common Stocks (Cost $3,835,516)** | **Total Common Stocks (Cost $3,835,516)** | **Total Common Stocks (Cost $3,835,516)** | **5248309** |
| **Temporary Cash Investments (0.3%)** | **Temporary Cash Investments (0.3%)** | **Temporary Cash Investments (0.3%)** | **Temporary Cash Investments (0.3%)** |
| **Money Market Fund (0.3%)** | **Money Market Fund (0.3%)** | **Money Market Fund (0.3%)** | **Money Market Fund (0.3%)** |
| <sup>2,3</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $19,321)** | &nbsp;&nbsp;193223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19320** |
| **Total Investments (100.2%) (Cost $3,854,837)** | **Total Investments (100.2%) (Cost $3,854,837)** |  | &nbsp;&nbsp;**5267629** |
| **Other Assets and Liabilities—Net (-0.2%)** | **Other Assets and Liabilities—Net (-0.2%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12927)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**5254702** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $14,065. |
| 2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 3 | Collateral of $15,011 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini S&P Mid-Cap 400 Index | March 2026 | 4 | 1431 | &nbsp;&nbsp;3 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| TransUnion | 8/31/2026 | BANA | 5198 | (3.640) | 309 |  |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> BANA—Bank of America, N.A.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $3,835,516) | 5248309 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $19,321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19320 |
| Total Investments in Securities | 5267629 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3018 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324 |
| Unrealized Appreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 |
| **Total Assets** | **5271549** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15011 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16847** |
| **Net Assets** | **5254702** |
| 1 Includes $14,065 of securities on loan. |  |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 4283381 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;971321 |
| **Net Assets** | **5254702** |
| **ETF Shares—Net Assets** |  |
| **Applicable to 27,277,315 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **3302987** |
| **Net Asset Value Per Share—ETF Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$121.09** |
| **Institutional Shares—Net Assets** |  |
| **Applicable to 4,040,154 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1951715** |
| **Net Asset Value Per Share—Institutional Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$483.08** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31452 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31660 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| Shareholders' Reports—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| Shareholders' Reports—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30350** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102864 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(686) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**102505** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366349 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**366661** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**499516** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $34. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $149, ($2), and ($1), respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $153,230 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57715 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;102505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125035 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;366661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117822 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;499516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300572 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;(21348) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34194) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;(13136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22537) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(34484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56731) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;185290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153471 |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;243550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608700 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;708582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852541 |
| **Net Assets** |  |  |
| **Beginning of Period** | **4546120** | &nbsp;&nbsp;&nbsp;**3693579** |
| **End of Period** | **5254702** | &nbsp;&nbsp;&nbsp;**4546120** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023<sup>1</sup> | &nbsp;&nbsp;&nbsp;2022<sup>1</sup> | &nbsp;&nbsp;&nbsp;2021<sup>1</sup> |
| **Net Asset Value, Beginning of Period** | **$110.29** | &nbsp;&nbsp;&nbsp;**$104.74** | &nbsp;&nbsp;&nbsp;&nbsp;**$89.50** | &nbsp;&nbsp;&nbsp;**$82.25** | &nbsp;&nbsp;&nbsp;**$93.08** | &nbsp;&nbsp;&nbsp;**$65.16** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.998 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;10.905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.301 | &nbsp;&nbsp;&nbsp;&nbsp;(10.928) | &nbsp;&nbsp;&nbsp;&nbsp;27.898 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;11.613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.568 | &nbsp;&nbsp;&nbsp;&nbsp;(9.681) | &nbsp;&nbsp;&nbsp;&nbsp;28.896 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.813) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.467) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.296) | &nbsp;&nbsp;&nbsp;&nbsp;(1.318) | &nbsp;&nbsp;&nbsp;&nbsp;(1.149) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.976) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.813) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.467) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.296) | &nbsp;&nbsp;&nbsp;&nbsp;(1.318) | &nbsp;&nbsp;&nbsp;&nbsp;(1.149) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.976) |
| **Net Asset Value, End of Period** | **$121.09** | &nbsp;&nbsp;&nbsp;**$110.29** | &nbsp;&nbsp;&nbsp;**$104.74** | &nbsp;&nbsp;&nbsp;**$89.50** | &nbsp;&nbsp;&nbsp;**$82.25** | &nbsp;&nbsp;&nbsp;**$93.08** |
| **Total Return** | **10.59%** | &nbsp;&nbsp;&nbsp;**6.79%** | &nbsp;&nbsp;&nbsp;**18.65%** | &nbsp;&nbsp;&nbsp;**10.60%** | &nbsp;&nbsp;&nbsp;**-10.47%** | &nbsp;&nbsp;&nbsp;**44.65%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $3303 | &nbsp;&nbsp;&nbsp;$2825 | &nbsp;&nbsp;&nbsp;$2214 | &nbsp;&nbsp;&nbsp;$1647 | &nbsp;&nbsp;&nbsp;$1411 | &nbsp;&nbsp;&nbsp;$1476 |
| Ratio of Total Expenses to Average Net Assets | 0.07% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.10%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.10%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.10% |
| Ratio of Net Investment Income to Average Net Assets | 1.28% | &nbsp;&nbsp;&nbsp;1.40% | &nbsp;&nbsp;&nbsp;1.45% | &nbsp;&nbsp;&nbsp;1.50% | &nbsp;&nbsp;&nbsp;1.41% | &nbsp;&nbsp;&nbsp;1.21% |
| Portfolio Turnover Rate<sup>4</sup> | 8% | &nbsp;&nbsp;&nbsp;15% | &nbsp;&nbsp;&nbsp;19% | &nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;16% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Adjusted to reflect a 2-for-1 share split effective March 13, 2023. |
| 2 | Calculated based on average shares outstanding. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.10%. |
| 4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$440.00** | &nbsp;&nbsp;&nbsp;**$417.85** | &nbsp;&nbsp;&nbsp;**$357.01** | &nbsp;&nbsp;&nbsp;**$328.11** | &nbsp;&nbsp;&nbsp;**$371.30** | &nbsp;&nbsp;&nbsp;**$259.90** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.038 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;43.492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60.504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.113 | &nbsp;&nbsp;&nbsp;&nbsp;(43.574) | &nbsp;&nbsp;&nbsp;&nbsp;111.307 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;46.404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66.077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34.221 | &nbsp;&nbsp;&nbsp;&nbsp;(38.537) | &nbsp;&nbsp;&nbsp;&nbsp;115.345 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(3.324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.945) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(3.324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.945) |
| **Net Asset Value, End of Period** | **$483.08** | &nbsp;&nbsp;&nbsp;**$440.00** | &nbsp;&nbsp;&nbsp;**$417.85** | &nbsp;&nbsp;&nbsp;**$357.01** | &nbsp;&nbsp;&nbsp;**$328.11** | &nbsp;&nbsp;&nbsp;**$371.30** |
| **Total Return** | **10.61%** | &nbsp;&nbsp;&nbsp;**6.82%** | &nbsp;&nbsp;&nbsp;**18.68%** | &nbsp;&nbsp;&nbsp;**10.64%** | &nbsp;&nbsp;&nbsp;**-10.43%** | &nbsp;&nbsp;&nbsp;**44.69%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $1952 | &nbsp;&nbsp;&nbsp;$1721 | &nbsp;&nbsp;&nbsp;$1480 | &nbsp;&nbsp;&nbsp;$1491 | &nbsp;&nbsp;&nbsp;$1325 | &nbsp;&nbsp;&nbsp;$1396 |
| Ratio of Total Expenses to Average Net Assets | 0.03% | &nbsp;&nbsp;&nbsp;0.05% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.08% |
| Ratio of Net Investment Income to Average Net Assets | 1.32% | &nbsp;&nbsp;&nbsp;1.44% | &nbsp;&nbsp;&nbsp;1.48% | &nbsp;&nbsp;&nbsp;1.51% | &nbsp;&nbsp;&nbsp;1.43% | &nbsp;&nbsp;&nbsp;1.24% |
| Portfolio Turnover Rate<sup>3</sup> | 8% | &nbsp;&nbsp;&nbsp;15% | &nbsp;&nbsp;&nbsp;19% | &nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;16% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
| 3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Index Fund

Notes to Financial Statements

Vanguard S&P Mid-Cap 400 Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund.

The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

S&P Mid-Cap 400 Index Fund

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $116,000, representing less than 0.01% of the fund's net assets and 0.05% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P Mid-Cap 400 Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 5248309 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5248309 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19320 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19320 |
| Total | 5267629 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5267629 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;3866238 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;1697956 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(296253) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;1401703 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $539,537,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $496,930,000 of investment securities and sold $390,065,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $373,700,000 and $238,915,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $44,502,000 and sales were $81,134,000, resulting in net realized loss of $34,027,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital share transactions for each class of shares were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;433111 | &nbsp;&nbsp;&nbsp;&nbsp;3820 | &nbsp;&nbsp;&nbsp;&nbsp;881718 | &nbsp;&nbsp;&nbsp;&nbsp;8600 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (247821) | &nbsp;&nbsp;&nbsp;(2160) | &nbsp;&nbsp;&nbsp;(426489) | &nbsp;&nbsp;&nbsp;(4120) |
| Net Increase (Decrease)—ETF Shares | &nbsp;&nbsp;185290 | &nbsp;&nbsp;&nbsp;&nbsp;1660 | &nbsp;&nbsp;&nbsp;&nbsp;455229 | &nbsp;&nbsp;&nbsp;&nbsp;4480 |
| **Institutional Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;192397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;361397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;10541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| Redeemed | (144678) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(319) | &nbsp;&nbsp;&nbsp;(226850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(539) |
| Net Increase (Decrease)—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;58260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;153471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 |

---

H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

------

S&P Mid-Cap 400 Index Fund

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18422 042026

------

![](tm268191d2smallcap600indi001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P Small-Cap 600 Index Fund

------

Contents

Financial Statements 1 <br>

------

S&P Small-Cap 600 Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.9%)** | **Common Stocks (99.9%)** | **Common Stocks (99.9%)** | **Common Stocks (99.9%)** |
| **Communication Services (3.1%)** | **Communication Services (3.1%)** | **Communication Services (3.1%)** | **Communication Services (3.1%)** |
| <sup>\*</sup> | Lumen Technologies Inc. | &nbsp;&nbsp;3235054 | &nbsp;&nbsp;&nbsp;&nbsp;23001 |
| <sup>\*</sup> | Madison Square Garden Sports Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61588 | &nbsp;&nbsp;&nbsp;&nbsp;20426 |
| <sup>\*</sup> | Versant Media Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;498160 | &nbsp;&nbsp;&nbsp;&nbsp;16599 |
|  | Telephone & Data Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;336796 | &nbsp;&nbsp;&nbsp;&nbsp;15072 |
|  | TEGNA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;552842 | &nbsp;&nbsp;&nbsp;&nbsp;11582 |
|  | Cinemark Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;353901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9994 |
|  | Iridium Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;359588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8612 |
| <sup>\*</sup> | IAC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;223334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8558 |
| <sup>\*</sup> | Cargurus Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;278372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8546 |
| <sup>\*</sup> | DoubleVerify Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;458391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4831 |
|  | Uniti Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;615294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4504 |
| <sup>\*</sup> | Yelp Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;200293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465 |
|  | John Wiley & Sons Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;140270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4351 |
| <sup>\*</sup> | TripAdvisor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4054 |
| <sup>\*</sup> | Ziff Davis Inc. | &nbsp;&nbsp;&nbsp;&nbsp;135452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3668 |
|  | Cogent Communications Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;163448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066 |
|  | Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702 |
| <sup>\*</sup> | QuinStreet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;194592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281 |
|  | Shenandoah Telecommunications Co. | &nbsp;&nbsp;&nbsp;&nbsp;156110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2128 |
| <sup>\*</sup> | Cars.com Inc. | &nbsp;&nbsp;&nbsp;&nbsp;191387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635 |
| <sup>\*</sup> | Cable One Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518 |
|  | Shutterstock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 |
| <sup>\*</sup> | Gogo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;265871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125 |
| <sup>\*</sup> | Angi Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;121267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944 |
|  |  |  | &nbsp;&nbsp;**165057** |
| **Consumer Discretionary (14.1%)** | **Consumer Discretionary (14.1%)** | **Consumer Discretionary (14.1%)** | **Consumer Discretionary (14.1%)** |
|  | LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;877795 | &nbsp;&nbsp;&nbsp;&nbsp;29064 |
|  | Installed Building Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77644 | &nbsp;&nbsp;&nbsp;&nbsp;25449 |
| <sup>\*</sup> | Brinker International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;152319 | &nbsp;&nbsp;&nbsp;&nbsp;22574 |
| <sup>\*</sup> | Mohawk Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;178008 | &nbsp;&nbsp;&nbsp;&nbsp;22299 |
| <sup>\*</sup> | CarMax Inc. | &nbsp;&nbsp;&nbsp;&nbsp;503415 | &nbsp;&nbsp;&nbsp;&nbsp;21732 |
| <sup>\*</sup> | Boot Barn Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104502 | &nbsp;&nbsp;&nbsp;&nbsp;19774 |
| <sup>\*</sup> | Etsy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;338324 | &nbsp;&nbsp;&nbsp;&nbsp;18567 |
|  | Meritage Homes Corp. | &nbsp;&nbsp;&nbsp;&nbsp;241269 | &nbsp;&nbsp;&nbsp;&nbsp;18197 |
| <sup>\*</sup> | Champion Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;191426 | &nbsp;&nbsp;&nbsp;&nbsp;17894 |
| <sup>\*</sup> | Caesars Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;699314 | &nbsp;&nbsp;&nbsp;&nbsp;17518 |
| <sup>\*</sup> | Victoria's Secret & Co. | &nbsp;&nbsp;&nbsp;&nbsp;274727 | &nbsp;&nbsp;&nbsp;&nbsp;17225 |
| <sup>\*</sup> | Frontdoor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;247019 | &nbsp;&nbsp;&nbsp;&nbsp;16938 |
| <sup>\*</sup> | Cavco Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26742 | &nbsp;&nbsp;&nbsp;&nbsp;15437 |
| <sup>\*</sup> | Asbury Automotive Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66611 | &nbsp;&nbsp;&nbsp;&nbsp;14240 |
|  | Patrick Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;114025 | &nbsp;&nbsp;&nbsp;&nbsp;14115 |
|  | ADT Inc. | &nbsp;&nbsp;1743603 | &nbsp;&nbsp;&nbsp;&nbsp;13984 |
|  | Group 1 Automotive Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42381 | &nbsp;&nbsp;&nbsp;&nbsp;13805 |
|  | Academy Sports & Outdoors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;228270 | &nbsp;&nbsp;&nbsp;&nbsp;13726 |
|  | Dana Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400350 | &nbsp;&nbsp;&nbsp;&nbsp;13708 |
| <sup>\*</sup> | Tri Pointe Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;294384 | &nbsp;&nbsp;&nbsp;&nbsp;13630 |
|  | Signet Jewelers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;140291 | &nbsp;&nbsp;&nbsp;&nbsp;13495 |
|  | American Eagle Outfitters Inc. | &nbsp;&nbsp;&nbsp;&nbsp;539466 | &nbsp;&nbsp;&nbsp;&nbsp;13255 |
| <sup>\*</sup> | Shake Shack Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;137879 | &nbsp;&nbsp;&nbsp;&nbsp;13238 |
| <sup>\*</sup> | M/I Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89734 | &nbsp;&nbsp;&nbsp;&nbsp;12757 |
| <sup>\*</sup> | Stride Inc. | &nbsp;&nbsp;&nbsp;&nbsp;148236 | &nbsp;&nbsp;&nbsp;&nbsp;12508 |
| <sup>\*</sup> | Covista Inc. | &nbsp;&nbsp;&nbsp;&nbsp;124686 | &nbsp;&nbsp;&nbsp;&nbsp;12219 |
| <sup>\*</sup> | Urban Outfitters Inc. | &nbsp;&nbsp;&nbsp;&nbsp;184325 | &nbsp;&nbsp;&nbsp;&nbsp;12202 |
|  | Kontoor Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;175173 | &nbsp;&nbsp;&nbsp;&nbsp;11423 |
| <sup>\*</sup> | Dorman Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95480 | &nbsp;&nbsp;&nbsp;&nbsp;11253 |
|  | LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83076 | &nbsp;&nbsp;&nbsp;&nbsp;11066 |
|  | Advance Auto Parts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;206032 | &nbsp;&nbsp;&nbsp;&nbsp;10955 |
| <sup>1</sup> | Cheesecake Factory Inc. | &nbsp;&nbsp;&nbsp;&nbsp;157334 | &nbsp;&nbsp;&nbsp;&nbsp;10192 |
|  | Red Rock Resorts Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;166540 | &nbsp;&nbsp;&nbsp;&nbsp;10084 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9676 |
|  | Phinia Inc. | &nbsp;&nbsp;&nbsp;&nbsp;131912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9581 |
|  | Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;249289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8999 |
| <sup>\*</sup> | Green Brick Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7706 |
|  | OneSpaWorld Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;349377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7522 |
| <sup>\*</sup> | National Vision Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;272249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7343 |
|  | Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp;207031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6904 |
| <sup>\*</sup> | Penn Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;438503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6858 |
| <sup>\*</sup> | Callaway Golf Co. | &nbsp;&nbsp;&nbsp;&nbsp;479796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6746 |
| <sup>\*</sup> | Adient plc | &nbsp;&nbsp;&nbsp;&nbsp;271495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6603 |
|  | Strategic Education Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6545 |
|  | Newell Brands Inc. | &nbsp;&nbsp;1435545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6532 |
| <sup>\*</sup> | Sonos Inc. | &nbsp;&nbsp;&nbsp;&nbsp;413770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6372 |
|  | Kohl's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;384239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6290 |
|  | Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6164 |
| <sup>\*</sup> | Six Flags Entertainment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;347274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5914 |
|  | Century Communities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5896 |
|  | Buckle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;103076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5520 |
|  | Leggett & Platt Inc. | &nbsp;&nbsp;&nbsp;&nbsp;463151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5410 |
| <sup>\*</sup> | Sally Beauty Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;334682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5378 |
| <sup>\*</sup> | Dauch Corp. | &nbsp;&nbsp;&nbsp;&nbsp;804907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5312 |
|  | La-Z-Boy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;141375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5050 |
|  | Wolverine World Wide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;281099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4967 |
| <sup>\*</sup> | Under Armour Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;637455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4730 |
|  | Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626 |
|  | Carter's Inc. | &nbsp;&nbsp;&nbsp;&nbsp;125170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199 |
|  | Wendy's Co. | &nbsp;&nbsp;&nbsp;&nbsp;543375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4162 |
|  | Monarch Casino & Resort Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4090 |
|  | G-III Apparel Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;126967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3884 |
|  | Winnebago Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862 |
|  | Upbound Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;178571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3830 |
| <sup>\*</sup> | XPEL Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678 |
| <sup>\*</sup> | LGI Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3622 |
|  | Papa John's International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3518 |
| <sup>\*</sup> | Gentherm Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3425 |
| <sup>\*</sup> | United Parks & Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247 |
|  | Sonic Automotive Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3201 |
| <sup>\*</sup> | Under Armour Inc. Class C | &nbsp;&nbsp;&nbsp;&nbsp;417414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3018 |
|  | Standard Motor Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832 |
|  | Matthews International Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;106005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2802 |
| <sup>\*</sup> | BJ's Restaurants Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739 |
| <sup>\*</sup> | Pursuit Attractions & Hospitality Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2574 |
| <sup>1</sup> | Cracker Barrel Old Country Store Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497 |
| <sup>\*</sup> | Fox Factory Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;143705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420 |
| <sup>\*</sup> | Mister Car Wash Inc. | &nbsp;&nbsp;&nbsp;&nbsp;336896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399 |
|  | Monro Inc. | &nbsp;&nbsp;&nbsp;&nbsp;103024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218 |
| <sup>\*</sup> | MarineMax Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974 |
|  | Golden Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 |
|  | Oxford Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893 |
|  | Ethan Allen Interiors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807 |
| <sup>\*</sup> | Dream Finders Homes Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782 |
|  | Bloomin' Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;263082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 |
| <sup>\*</sup> | Sabre Corp. | &nbsp;&nbsp;1354019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598 |
| <sup>\*</sup> | Dave & Buster's Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367 |
|  |  |  | &nbsp;&nbsp;**759363** |
| **Consumer Staples (2.5%)** | **Consumer Staples (2.5%)** | **Consumer Staples (2.5%)** | **Consumer Staples (2.5%)** |
| <sup>\*</sup> | Freshpet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;167202 | &nbsp;&nbsp;&nbsp;&nbsp;14120 |
|  | Cal-Maine Foods Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156496 | &nbsp;&nbsp;&nbsp;&nbsp;13632 |
|  | PriceSmart Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86711 | &nbsp;&nbsp;&nbsp;&nbsp;13407 |
|  | WD-40 Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46434 | &nbsp;&nbsp;&nbsp;&nbsp;11061 |
| <sup>\*</sup> | Chefs' Warehouse Inc. | &nbsp;&nbsp;&nbsp;&nbsp;124240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8869 |
| <sup>\*</sup> | United Natural Foods Inc. | &nbsp;&nbsp;&nbsp;&nbsp;208061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7950 |
|  | Andersons Inc. | &nbsp;&nbsp;&nbsp;&nbsp;115179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7520 |
|  | Interparfums Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6329 |
| <sup>\*</sup> | Central Garden & Pet Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;175907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6076 |
| <sup>\*</sup> | Simply Good Foods Co. | &nbsp;&nbsp;&nbsp;&nbsp;315741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5387 |
|  | Fresh Del Monte Produce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;113031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4852 |
|  | Reynolds Consumer Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;187132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4643 |
|  | J & J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4638 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594 |
|  | Energizer Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;208613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4504 |
|  | Edgewell Personal Care Co. | &nbsp;&nbsp;&nbsp;&nbsp;158929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3614 |
| <sup>\*</sup> | Grocery Outlet Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;337514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3335 |
| <sup>\*</sup> | National Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2925 |
|  | Tootsie Roll Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853 |
| <sup>\*</sup> | Vital Farms Inc. | &nbsp;&nbsp;&nbsp;&nbsp;127057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680 |
|  | John B Sanfilippo & Son Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2568 |
| <sup>\*</sup> | Central Garden & Pet Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124 |
|  |  |  | &nbsp;&nbsp;**136681** |
| **Energy (5.5%)** | **Energy (5.5%)** | **Energy (5.5%)** | **Energy (5.5%)** |
|  | Archrock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;601143 | &nbsp;&nbsp;&nbsp;&nbsp;21238 |
|  | Noble Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;430140 | &nbsp;&nbsp;&nbsp;&nbsp;19541 |
|  | SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;775715 | &nbsp;&nbsp;&nbsp;&nbsp;17942 |
|  | Magnolia Oil & Gas Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;627742 | &nbsp;&nbsp;&nbsp;&nbsp;17464 |
|  | California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;269143 | &nbsp;&nbsp;&nbsp;&nbsp;15836 |
|  | Liberty Energy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;555001 | &nbsp;&nbsp;&nbsp;&nbsp;15590 |
|  | Kodiak Gas Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;284761 | &nbsp;&nbsp;&nbsp;&nbsp;15540 |
|  | Core Natural Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;175569 | &nbsp;&nbsp;&nbsp;&nbsp;14411 |
|  | Peabody Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;416591 | &nbsp;&nbsp;&nbsp;&nbsp;13139 |
|  | Cactus Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;235811 | &nbsp;&nbsp;&nbsp;&nbsp;12734 |
| <sup>\*</sup> | Tidewater Inc. | &nbsp;&nbsp;&nbsp;&nbsp;158219 | &nbsp;&nbsp;&nbsp;&nbsp;12566 |
| <sup>\*</sup> | Oceaneering International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;341747 | &nbsp;&nbsp;&nbsp;&nbsp;12132 |
|  | Helmerich & Payne Inc. | &nbsp;&nbsp;&nbsp;&nbsp;341321 | &nbsp;&nbsp;&nbsp;&nbsp;12021 |
|  | International Seaways Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139002 | &nbsp;&nbsp;&nbsp;&nbsp;10499 |
|  | Patterson-UTI Energy Inc. | &nbsp;&nbsp;1183679 | &nbsp;&nbsp;&nbsp;&nbsp;10073 |
|  | Crescent Energy Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;829783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9675 |
|  | Northern Oil & Gas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;333041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9189 |
| <sup>\*</sup> | Par Pacific Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;172306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7352 |
| <sup>1</sup> | Kinetik Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;155941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7094 |
| <sup>\*</sup> | Comstock Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;270587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5306 |
| <sup>\*</sup> | Talos Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;432418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5297 |
|  | World Kinect Corp. | &nbsp;&nbsp;&nbsp;&nbsp;190826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4761 |
|  | Dorian LPG Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;126195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4668 |
| <sup>\*</sup> | Helix Energy Solutions Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;468555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4306 |
| <sup>\*</sup> | Bristow Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4125 |
| <sup>\*</sup> | Innovex International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;132661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496 |
| <sup>\*</sup> | REX American Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3478 |
|  | Core Laboratories Inc. | &nbsp;&nbsp;&nbsp;&nbsp;160358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2821 |
|  | Atlas Energy Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;264556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2548 |
| <sup>\*</sup> | CVR Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;103658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504 |
|  | RPC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;304414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769 |
|  |  |  | &nbsp;&nbsp;**299115** |
| **Financials (17.5%)** | **Financials (17.5%)** | **Financials (17.5%)** | **Financials (17.5%)** |
|  | Jackson Financial Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;233053 | &nbsp;&nbsp;&nbsp;&nbsp;25515 |
|  | MarketAxess Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;127443 | &nbsp;&nbsp;&nbsp;&nbsp;24469 |
| <sup>\*</sup> | StoneX Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;159180 | &nbsp;&nbsp;&nbsp;&nbsp;20295 |
|  | Lincoln National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;579504 | &nbsp;&nbsp;&nbsp;&nbsp;19877 |
|  | Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;488484 | &nbsp;&nbsp;&nbsp;&nbsp;18103 |
|  | Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;219186 | &nbsp;&nbsp;&nbsp;&nbsp;17022 |
| <sup>\*</sup> | Axos Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;194141 | &nbsp;&nbsp;&nbsp;&nbsp;16855 |
|  | Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57018 | &nbsp;&nbsp;&nbsp;&nbsp;16852 |
|  | Radian Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;464270 | &nbsp;&nbsp;&nbsp;&nbsp;16027 |
|  | HA Sustainable Infrastructure Capital Inc. | &nbsp;&nbsp;&nbsp;&nbsp;432023 | &nbsp;&nbsp;&nbsp;&nbsp;15778 |
|  | Moelis & Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;253568 | &nbsp;&nbsp;&nbsp;&nbsp;15052 |
|  | ServisFirst Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;172160 | &nbsp;&nbsp;&nbsp;&nbsp;13947 |
|  | United Community Banks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;416382 | &nbsp;&nbsp;&nbsp;&nbsp;13395 |
|  | Independent Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;169828 | &nbsp;&nbsp;&nbsp;&nbsp;13258 |
|  | Assured Guaranty Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;148692 | &nbsp;&nbsp;&nbsp;&nbsp;12819 |
|  | Fulton Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;618622 | &nbsp;&nbsp;&nbsp;&nbsp;12651 |
|  | PJT Partners Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83439 | &nbsp;&nbsp;&nbsp;&nbsp;12322 |
|  | Renasant Corp. | &nbsp;&nbsp;&nbsp;&nbsp;325450 | &nbsp;&nbsp;&nbsp;&nbsp;12253 |
|  | BankUnited Inc. | &nbsp;&nbsp;&nbsp;&nbsp;257371 | &nbsp;&nbsp;&nbsp;&nbsp;12019 |
|  | WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;187252 | &nbsp;&nbsp;&nbsp;&nbsp;11892 |
| <sup>\*</sup> | Enova International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85153 | &nbsp;&nbsp;&nbsp;&nbsp;11841 |
|  | BGC Group Inc. Class A | &nbsp;&nbsp;1233390 | &nbsp;&nbsp;&nbsp;&nbsp;11742 |
|  | Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;233500 | &nbsp;&nbsp;&nbsp;&nbsp;11607 |
| <sup>\*</sup> | Genworth Financial Inc. Class A | &nbsp;&nbsp;1370982 | &nbsp;&nbsp;&nbsp;&nbsp;11571 |
|  | Victory Capital Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;164948 | &nbsp;&nbsp;&nbsp;&nbsp;11411 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | First Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;537304 | &nbsp;&nbsp;11353 |
|  | Virtu Financial Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;273865 | &nbsp;&nbsp;11341 |
| <sup>\*</sup> | Palomar Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90969 | &nbsp;&nbsp;11254 |
| <sup>\*</sup> | NCR Atleos Corp. | &nbsp;&nbsp;&nbsp;&nbsp;253655 | &nbsp;&nbsp;11232 |
|  | Bread Financial Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156780 | &nbsp;&nbsp;11109 |
|  | Community Financial System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;180293 | &nbsp;&nbsp;10917 |
|  | StepStone Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;249883 | &nbsp;&nbsp;10780 |
|  | First Interstate BancSystem Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;306534 | &nbsp;&nbsp;10609 |
|  | Western Union Co. | &nbsp;&nbsp;1091028 | &nbsp;&nbsp;10507 |
|  | First Hawaiian Inc. | &nbsp;&nbsp;&nbsp;&nbsp;423586 | &nbsp;&nbsp;10488 |
|  | Blackstone Mortgage Trust Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;541005 | &nbsp;&nbsp;10393 |
| <sup>\*</sup> | NMI Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;263832 | &nbsp;&nbsp;10371 |
|  | Seacoast Banking Corp. of Florida | &nbsp;&nbsp;&nbsp;&nbsp;332482 | &nbsp;&nbsp;10347 |
|  | Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;136197 | &nbsp;&nbsp;10320 |
|  | First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;354989 | &nbsp;&nbsp;&nbsp;&nbsp;9965 |
|  | Simmons First National Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;496674 | &nbsp;&nbsp;&nbsp;&nbsp;9889 |
|  | Artisan Partners Asset Management Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;241835 | &nbsp;&nbsp;&nbsp;&nbsp;9741 |
|  | Provident Financial Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;448342 | &nbsp;&nbsp;&nbsp;&nbsp;9433 |
|  | Trustmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;205612 | &nbsp;&nbsp;&nbsp;&nbsp;8757 |
|  | Beacon Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;287708 | &nbsp;&nbsp;&nbsp;&nbsp;8556 |
|  | Banc of California Inc. | &nbsp;&nbsp;&nbsp;&nbsp;460434 | &nbsp;&nbsp;&nbsp;&nbsp;8504 |
|  | CVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;440892 | &nbsp;&nbsp;&nbsp;&nbsp;8478 |
|  | WaFd Inc. | &nbsp;&nbsp;&nbsp;&nbsp;270442 | &nbsp;&nbsp;&nbsp;&nbsp;8427 |
|  | Mercury General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91249 | &nbsp;&nbsp;&nbsp;&nbsp;8265 |
|  | First Bancorp (XNGS) | &nbsp;&nbsp;&nbsp;&nbsp;142089 | &nbsp;&nbsp;&nbsp;&nbsp;8069 |
|  | Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49011 | &nbsp;&nbsp;&nbsp;&nbsp;8064 |
| <sup>\*</sup> | Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;150598 | &nbsp;&nbsp;&nbsp;&nbsp;7905 |
|  | BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70917 | &nbsp;&nbsp;&nbsp;&nbsp;7801 |
|  | NBT Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;179495 | &nbsp;&nbsp;&nbsp;&nbsp;7668 |
|  | FB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;138281 | &nbsp;&nbsp;&nbsp;&nbsp;7563 |
| <sup>\*</sup> | SiriusPoint Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;356861 | &nbsp;&nbsp;&nbsp;&nbsp;7544 |
| <sup>\*</sup> | Customers Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;108978 | &nbsp;&nbsp;&nbsp;&nbsp;7349 |
|  | Pathward Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78168 | &nbsp;&nbsp;&nbsp;&nbsp;7097 |
|  | ARMOUR Residential REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;383260 | &nbsp;&nbsp;&nbsp;&nbsp;6880 |
|  | Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;116854 | &nbsp;&nbsp;&nbsp;&nbsp;6877 |
|  | Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96069 | &nbsp;&nbsp;&nbsp;&nbsp;6820 |
|  | WisdomTree Inc. | &nbsp;&nbsp;&nbsp;&nbsp;393655 | &nbsp;&nbsp;&nbsp;&nbsp;6735 |
|  | HCI Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36882 | &nbsp;&nbsp;&nbsp;&nbsp;6507 |
|  | Cohen & Steers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94327 | &nbsp;&nbsp;&nbsp;&nbsp;6308 |
|  | Northwest Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;501276 | &nbsp;&nbsp;&nbsp;&nbsp;6241 |
|  | First Commonwealth Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;353832 | &nbsp;&nbsp;&nbsp;&nbsp;6203 |
|  | EVERTEC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;218974 | &nbsp;&nbsp;&nbsp;&nbsp;6199 |
|  | Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;139425 | &nbsp;&nbsp;&nbsp;&nbsp;6066 |
|  | OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;150849 | &nbsp;&nbsp;&nbsp;&nbsp;6046 |
|  | Stellar Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;157934 | &nbsp;&nbsp;&nbsp;&nbsp;5948 |
|  | City Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49388 | &nbsp;&nbsp;&nbsp;&nbsp;5925 |
|  | Hilltop Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;147200 | &nbsp;&nbsp;&nbsp;&nbsp;5510 |
|  | S&T Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;131117 | &nbsp;&nbsp;&nbsp;&nbsp;5482 |
|  | Walker & Dunlop Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117063 | &nbsp;&nbsp;&nbsp;&nbsp;5386 |
| <sup>1</sup> | Arbor Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;670862 | &nbsp;&nbsp;&nbsp;&nbsp;5320 |
| <sup>\*</sup> | EZCORP Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;198407 | &nbsp;&nbsp;&nbsp;&nbsp;5264 |
| <sup>\*</sup> | Encore Capital Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76444 | &nbsp;&nbsp;&nbsp;&nbsp;5220 |
|  | National Bank Holdings Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;129309 | &nbsp;&nbsp;&nbsp;&nbsp;5171 |
|  | Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87293 | &nbsp;&nbsp;&nbsp;&nbsp;5071 |
|  | Hope Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;438871 | &nbsp;&nbsp;&nbsp;&nbsp;4942 |
|  | Acadian Asset Management Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90406 | &nbsp;&nbsp;&nbsp;&nbsp;4869 |
|  | PROG Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;135729 | &nbsp;&nbsp;&nbsp;&nbsp;4779 |
|  | Apollo Commercial Real Estate Finance Inc. | &nbsp;&nbsp;&nbsp;&nbsp;446560 | &nbsp;&nbsp;&nbsp;&nbsp;4734 |
| <sup>\*</sup> | Goosehead Insurance Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85556 | &nbsp;&nbsp;&nbsp;&nbsp;4637 |
|  | Ellington Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;366971 | &nbsp;&nbsp;&nbsp;&nbsp;4558 |
|  | Dime Community Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;140153 | &nbsp;&nbsp;&nbsp;&nbsp;4534 |
| <sup>\*</sup> | Donnelley Financial Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91004 | &nbsp;&nbsp;&nbsp;&nbsp;4528 |
| <sup>\*</sup> | ProAssurance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;176477 | &nbsp;&nbsp;&nbsp;&nbsp;4333 |
| <sup>\*</sup> | Triumph Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77562 | &nbsp;&nbsp;&nbsp;&nbsp;4333 |
|  | Westamerica Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85272 | &nbsp;&nbsp;&nbsp;&nbsp;4319 |
| <sup>\*</sup> | Payoneer Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;992628 | &nbsp;&nbsp;&nbsp;&nbsp;4288 |
| <sup>\*,1</sup> | Sezzle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58375 | &nbsp;&nbsp;&nbsp;&nbsp;4258 |
|  | Merchants Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;100596 | &nbsp;&nbsp;&nbsp;&nbsp;4253 |
|  | Enact Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98998 | &nbsp;&nbsp;&nbsp;&nbsp;4142 |
|  | Safety Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50908 | &nbsp;&nbsp;&nbsp;&nbsp;3952 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Two Harbors Investment Corp. | &nbsp;&nbsp;358315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3701 |
|  | PennyMac Mortgage Investment Trust | &nbsp;&nbsp;297891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3652 |
|  | Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;38856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408 |
|  | Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345 |
|  | Employers Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3189 |
|  | Heritage Financial Corp. | &nbsp;&nbsp;115957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062 |
| <sup>\*</sup> | Trupanion Inc. | &nbsp;&nbsp;115158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3056 |
|  | Southside Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045 |
|  | Virtus Investment Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006 |
|  | Capitol Federal Financial Inc. | &nbsp;&nbsp;415344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982 |
|  | Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;92321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2940 |
|  | United Fire Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2936 |
|  | TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2724 |
|  | Hanmi Financial Corp. | &nbsp;&nbsp;102144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2667 |
|  | Redwood Trust Inc. | &nbsp;&nbsp;435623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 |
|  | Franklin BSP Realty Trust Inc. | &nbsp;&nbsp;280349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2560 |
|  | Eagle Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2402 |
|  | Adamas Trust Inc. | &nbsp;&nbsp;286747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2363 |
|  | AMERISAFE Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2117 |
| <sup>\*</sup> | PRA Group Inc. | &nbsp;&nbsp;133270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099 |
|  | Navient Corp. | &nbsp;&nbsp;231789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2037 |
| <sup>\*</sup> | World Acceptance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319 |
|  | KKR Real Estate Finance Trust Inc. | &nbsp;&nbsp;185950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292 |
|  |  |  | &nbsp;&nbsp;**947845** |
| **Health Care (10.8%)** | **Health Care (10.8%)** | **Health Care (10.8%)** | **Health Care (10.8%)** |
| <sup>\*</sup> | Krystal Biotech Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88488 | &nbsp;&nbsp;&nbsp;&nbsp;24391 |
| <sup>\*</sup> | Glaukos Corp. | &nbsp;&nbsp;196921 | &nbsp;&nbsp;&nbsp;&nbsp;23709 |
| <sup>\*</sup> | PTC Therapeutics Inc. | &nbsp;&nbsp;275204 | &nbsp;&nbsp;&nbsp;&nbsp;18766 |
| <sup>\*</sup> | Protagonist Therapeutics Inc. | &nbsp;&nbsp;201410 | &nbsp;&nbsp;&nbsp;&nbsp;18546 |
|  | Teleflex Inc. | &nbsp;&nbsp;151470 | &nbsp;&nbsp;&nbsp;&nbsp;18488 |
| <sup>\*</sup> | TransMedics Group Inc. | &nbsp;&nbsp;117102 | &nbsp;&nbsp;&nbsp;&nbsp;17010 |
| <sup>\*</sup> | RadNet Inc. | &nbsp;&nbsp;237916 | &nbsp;&nbsp;&nbsp;&nbsp;16609 |
| <sup>\*</sup> | BrightSpring Health Services Inc. | &nbsp;&nbsp;389315 | &nbsp;&nbsp;&nbsp;&nbsp;16129 |
| <sup>\*</sup> | Merit Medical Systems Inc. | &nbsp;&nbsp;203190 | &nbsp;&nbsp;&nbsp;&nbsp;15682 |
| <sup>\*</sup> | Alkermes plc | &nbsp;&nbsp;489920 | &nbsp;&nbsp;&nbsp;&nbsp;14747 |
| <sup>\*</sup> | TG Therapeutics Inc. | &nbsp;&nbsp;465815 | &nbsp;&nbsp;&nbsp;&nbsp;14016 |
| <sup>\*</sup> | Indivior Pharmaceuticals Inc. | &nbsp;&nbsp;427757 | &nbsp;&nbsp;&nbsp;&nbsp;13996 |
| <sup>\*</sup> | Ligand Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67415 | &nbsp;&nbsp;&nbsp;&nbsp;13369 |
| <sup>\*</sup> | ICU Medical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84568 | &nbsp;&nbsp;&nbsp;&nbsp;12734 |
| <sup>\*</sup> | ADMA Biologics Inc. | &nbsp;&nbsp;815256 | &nbsp;&nbsp;&nbsp;&nbsp;12694 |
| <sup>\*</sup> | Corcept Therapeutics Inc. | &nbsp;&nbsp;320598 | &nbsp;&nbsp;&nbsp;&nbsp;11445 |
| <sup>\*</sup> | Prestige Consumer Healthcare Inc. | &nbsp;&nbsp;165047 | &nbsp;&nbsp;&nbsp;&nbsp;11438 |
| <sup>\*</sup> | Supernus Pharmaceuticals Inc. | &nbsp;&nbsp;196764 | &nbsp;&nbsp;&nbsp;&nbsp;10769 |
| <sup>\*</sup> | ACADIA Pharmaceuticals Inc. | &nbsp;&nbsp;428683 | &nbsp;&nbsp;&nbsp;&nbsp;10528 |
| <sup>\*</sup> | Integer Holdings Corp. | &nbsp;&nbsp;120292 | &nbsp;&nbsp;&nbsp;&nbsp;10427 |
| <sup>\*</sup> | Waystar Holding Corp. | &nbsp;&nbsp;393869 | &nbsp;&nbsp;&nbsp;&nbsp;10103 |
| <sup>\*</sup> | Veracyte Inc. | &nbsp;&nbsp;271303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9927 |
|  | Concentra Group Holdings Parent Inc. | &nbsp;&nbsp;408814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9795 |
| <sup>\*</sup> | Privia Health Group Inc. | &nbsp;&nbsp;396320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9413 |
| <sup>\*</sup> | Catalyst Pharmaceuticals Inc. | &nbsp;&nbsp;396414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9149 |
| <sup>\*</sup> | Neogen Corp. | &nbsp;&nbsp;745913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8377 |
| <sup>\*</sup> | Amneal Pharmaceuticals Inc. | &nbsp;&nbsp;582463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8044 |
|  | LeMaitre Vascular Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7736 |
| <sup>\*</sup> | Acadia Healthcare Co. Inc. | &nbsp;&nbsp;316787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7425 |
| <sup>\*</sup> | Apellis Pharmaceuticals Inc. | &nbsp;&nbsp;351393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7365 |
|  | National HealthCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6949 |
|  | Organon & Co. | &nbsp;&nbsp;891666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500 |
| <sup>\*</sup> | Addus HomeCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6480 |
| <sup>\*</sup> | Omnicell Inc. | &nbsp;&nbsp;153793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6321 |
|  | Perrigo Co. plc | &nbsp;&nbsp;472464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6246 |
| <sup>\*</sup> | Vericel Corp. | &nbsp;&nbsp;173363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6186 |
| <sup>\*</sup> | Sarepta Therapeutics Inc. | &nbsp;&nbsp;359678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6028 |
| <sup>\*</sup> | Arcus Biosciences Inc. | &nbsp;&nbsp;292711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5963 |
| <sup>\*</sup> | Tandem Diabetes Care Inc. | &nbsp;&nbsp;232743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5888 |
| <sup>\*</sup> | Inspire Medical Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5841 |
| <sup>\*</sup> | Pediatrix Medical Group Inc. | &nbsp;&nbsp;288052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5718 |
|  | Select Medical Holdings Corp. | &nbsp;&nbsp;377372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5649 |
| <sup>\*</sup> | Innoviva Inc. | &nbsp;&nbsp;244151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5606 |
| <sup>\*</sup> | UFP Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5568 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | CorVel Corp. | &nbsp;&nbsp;106955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5517 |
| <sup>\*</sup> | Artivion Inc. | &nbsp;&nbsp;143114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5510 |
| <sup>\*</sup> | QuidelOrtho Corp. | &nbsp;&nbsp;232648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290 |
| <sup>\*</sup> | Enovis Corp. | &nbsp;&nbsp;196528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5006 |
|  | CONMED Corp. | &nbsp;&nbsp;105998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4876 |
| <sup>\*</sup> | Progyny Inc. | &nbsp;&nbsp;274506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4856 |
| <sup>\*</sup> | ANI Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 |
| <sup>\*</sup> | Collegium Pharmaceutical Inc. | &nbsp;&nbsp;108602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525 |
| <sup>\*</sup> | NeoGenomics Inc. | &nbsp;&nbsp;444624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4371 |
|  | US Physical Therapy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4326 |
| <sup>\*</sup> | Harmony Biosciences Holdings Inc. | &nbsp;&nbsp;136534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3897 |
|  | Phibro Animal Health Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;69839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3813 |
| <sup>\*</sup> | Azenta Inc. | &nbsp;&nbsp;139488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763 |
| <sup>\*</sup> | Fortrea Holdings Inc. | &nbsp;&nbsp;317299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3401 |
| <sup>\*</sup> | STAAR Surgical Co. | &nbsp;&nbsp;169843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3380 |
| <sup>\*</sup> | AdaptHealth Corp. Class A | &nbsp;&nbsp;366501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3353 |
| <sup>\*</sup> | Pacira BioSciences Inc. | &nbsp;&nbsp;147777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3238 |
| <sup>\*</sup> | BioLife Solutions Inc. | &nbsp;&nbsp;133753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3237 |
| <sup>\*</sup> | Xencor Inc. | &nbsp;&nbsp;244985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128 |
| <sup>\*</sup> | Astrana Health Inc. | &nbsp;&nbsp;148449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3018 |
| <sup>\*</sup> | Vir Biotechnology Inc. | &nbsp;&nbsp;325152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2956 |
| <sup>\*</sup> | Certara Inc. | &nbsp;&nbsp;411141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2911 |
| <sup>\*</sup> | Integra LifeSciences Holdings Corp. | &nbsp;&nbsp;229508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2612 |
| <sup>\*</sup> | AMN Healthcare Services Inc. | &nbsp;&nbsp;131439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2560 |
| <sup>\*</sup> | Amphastar Pharmaceuticals Inc. | &nbsp;&nbsp;121175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451 |
| <sup>\*</sup> | Schrodinger Inc. | &nbsp;&nbsp;192330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2320 |
| <sup>\*</sup> | Avanos Medical Inc. | &nbsp;&nbsp;159326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247 |
|  | Embecta Corp. | &nbsp;&nbsp;200569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2058 |
|  | HealthStream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713 |
| <sup>\*</sup> | Cytek Biosciences Inc. | &nbsp;&nbsp;377594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692 |
| <sup>\*</sup> | Myriad Genetics Inc. | &nbsp;&nbsp;319603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 |
|  |  |  | &nbsp;&nbsp;**585823** |
| **Industrials (17.8%)** | **Industrials (17.8%)** | **Industrials (17.8%)** | **Industrials (17.8%)** |
|  | Moog Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;97481 | &nbsp;&nbsp;&nbsp;&nbsp;32893 |
|  | Primoris Services Corp. | &nbsp;&nbsp;185291 | &nbsp;&nbsp;&nbsp;&nbsp;27927 |
|  | JBT Marel Corp. | &nbsp;&nbsp;178221 | &nbsp;&nbsp;&nbsp;&nbsp;27446 |
|  | Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;510600 | &nbsp;&nbsp;&nbsp;&nbsp;26030 |
|  | Armstrong World Industries Inc. | &nbsp;&nbsp;147850 | &nbsp;&nbsp;&nbsp;&nbsp;25652 |
|  | ESCO Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88548 | &nbsp;&nbsp;&nbsp;&nbsp;24554 |
| <sup>\*</sup> | Gates Industrial Corp. plc | &nbsp;&nbsp;885614 | &nbsp;&nbsp;&nbsp;&nbsp;24416 |
|  | Federal Signal Corp. | &nbsp;&nbsp;208502 | &nbsp;&nbsp;&nbsp;&nbsp;24276 |
|  | Air Lease Corp. Class A | &nbsp;&nbsp;360173 | &nbsp;&nbsp;&nbsp;&nbsp;23354 |
| <sup>\*</sup> | Everus Construction Group Inc. | &nbsp;&nbsp;174874 | &nbsp;&nbsp;&nbsp;&nbsp;21137 |
|  | Granite Construction Inc. | &nbsp;&nbsp;149625 | &nbsp;&nbsp;&nbsp;&nbsp;20119 |
| <sup>\*</sup> | Casella Waste Systems Inc. Class A | &nbsp;&nbsp;214243 | &nbsp;&nbsp;&nbsp;&nbsp;19959 |
|  | Enpro Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72214 | &nbsp;&nbsp;&nbsp;&nbsp;18678 |
| <sup>\*</sup> | Resideo Technologies Inc. | &nbsp;&nbsp;472089 | &nbsp;&nbsp;&nbsp;&nbsp;18270 |
|  | Arcosa Inc. | &nbsp;&nbsp;168120 | &nbsp;&nbsp;&nbsp;&nbsp;18070 |
|  | Matson Inc. | &nbsp;&nbsp;106878 | &nbsp;&nbsp;&nbsp;&nbsp;17756 |
|  | Powell Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32265 | &nbsp;&nbsp;&nbsp;&nbsp;16894 |
|  | CSW Industrials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57182 | &nbsp;&nbsp;&nbsp;&nbsp;16830 |
| <sup>\*</sup> | Mercury Systems Inc. | &nbsp;&nbsp;181239 | &nbsp;&nbsp;&nbsp;&nbsp;16136 |
|  | Mueller Water Products Inc. Class A | &nbsp;&nbsp;535727 | &nbsp;&nbsp;&nbsp;&nbsp;16034 |
| <sup>\*</sup> | Amentum Holdings Inc. | &nbsp;&nbsp;525255 | &nbsp;&nbsp;&nbsp;&nbsp;15689 |
| <sup>\*</sup> | Vicor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;77847 | &nbsp;&nbsp;&nbsp;&nbsp;15678 |
| <sup>\*</sup> | AAR Corp. | &nbsp;&nbsp;133725 | &nbsp;&nbsp;&nbsp;&nbsp;15669 |
|  | Rush Enterprises Inc. Class A | &nbsp;&nbsp;207768 | &nbsp;&nbsp;&nbsp;&nbsp;14745 |
| <sup>\*</sup> | MYR Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53285 | &nbsp;&nbsp;&nbsp;&nbsp;14385 |
| <sup>\*</sup> | SkyWest Inc. | &nbsp;&nbsp;137425 | &nbsp;&nbsp;&nbsp;&nbsp;14303 |
|  | AZZ Inc. | &nbsp;&nbsp;103146 | &nbsp;&nbsp;&nbsp;&nbsp;14026 |
|  | Brady Corp. Class A | &nbsp;&nbsp;149202 | &nbsp;&nbsp;&nbsp;&nbsp;13777 |
|  | Kadant Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40352 | &nbsp;&nbsp;&nbsp;&nbsp;13686 |
|  | WillScot Holdings Corp. | &nbsp;&nbsp;623294 | &nbsp;&nbsp;&nbsp;&nbsp;13469 |
|  | Franklin Electric Co. Inc. | &nbsp;&nbsp;131132 | &nbsp;&nbsp;&nbsp;&nbsp;13063 |
|  | UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50002 | &nbsp;&nbsp;&nbsp;&nbsp;11741 |
|  | Griffon Corp. | &nbsp;&nbsp;134214 | &nbsp;&nbsp;&nbsp;&nbsp;11440 |
|  | Korn Ferry | &nbsp;&nbsp;179763 | &nbsp;&nbsp;&nbsp;&nbsp;11266 |
| <sup>\*</sup> | Hayward Holdings Inc. | &nbsp;&nbsp;684639 | &nbsp;&nbsp;&nbsp;&nbsp;10954 |
|  | Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41599 | &nbsp;&nbsp;&nbsp;&nbsp;10899 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | HNI Corp. | &nbsp;&nbsp;236372 | &nbsp;&nbsp;&nbsp;&nbsp;10627 |
| <sup>\*</sup> | Sunrun Inc. | &nbsp;&nbsp;795094 | &nbsp;&nbsp;&nbsp;&nbsp;10535 |
|  | Boise Cascade Co. | &nbsp;&nbsp;127148 | &nbsp;&nbsp;&nbsp;&nbsp;10520 |
|  | Kennametal Inc. | &nbsp;&nbsp;261015 | &nbsp;&nbsp;&nbsp;&nbsp;10514 |
| <sup>\*</sup> | OPENLANE Inc. | &nbsp;&nbsp;364703 | &nbsp;&nbsp;&nbsp;&nbsp;10398 |
|  | Trinity Industries Inc. | &nbsp;&nbsp;275224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9407 |
|  | ABM Industries Inc. | &nbsp;&nbsp;210210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9354 |
| <sup>\*</sup> | Verra Mobility Corp. Class A | &nbsp;&nbsp;547596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9150 |
| <sup>\*</sup> | RXO Inc. | &nbsp;&nbsp;562391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8976 |
|  | Hub Group Inc. Class A | &nbsp;&nbsp;207814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8951 |
|  | Robert Half Inc. | &nbsp;&nbsp;341390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8337 |
|  | ArcBest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;77250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7931 |
|  | Alamo Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7895 |
| <sup>\*</sup> | DNOW Inc. | &nbsp;&nbsp;636636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 |
|  | CSG Systems International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7432 |
|  | Enerpac Tool Group Corp. Class A | &nbsp;&nbsp;181717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7414 |
|  | Werner Enterprises Inc. | &nbsp;&nbsp;205280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7203 |
| <sup>\*</sup> | GEO Group Inc. | &nbsp;&nbsp;468586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7048 |
| <sup>\*</sup> | CoreCivic Inc. | &nbsp;&nbsp;358141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6332 |
|  | Interface Inc. Class A | &nbsp;&nbsp;200083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6301 |
| <sup>\*</sup> | DXP Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6040 |
|  | Worthington Enterprises Inc. | &nbsp;&nbsp;107233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6006 |
|  | Greenbrier Cos. Inc. | &nbsp;&nbsp;106389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6002 |
| <sup>\*</sup> | Upwork Inc. | &nbsp;&nbsp;446980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5999 |
|  | Albany International Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;98534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5681 |
| <sup>\*</sup> | JetBlue Airways Corp. | &nbsp;&nbsp;997120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5524 |
|  | Pitney Bowes Inc. | &nbsp;&nbsp;508182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5453 |
| <sup>\*</sup> | Healthcare Services Group Inc. | &nbsp;&nbsp;241329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5254 |
| <sup>\*</sup> | Enviri Corp. | &nbsp;&nbsp;276844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241 |
| <sup>\*</sup> | Proto Labs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5043 |
|  | Lindsay Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4991 |
|  | Astec Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4868 |
|  | Schneider National Inc. Class B | &nbsp;&nbsp;171024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4854 |
|  | MillerKnoll Inc. | &nbsp;&nbsp;235163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4736 |
| <sup>\*</sup> | Allegiant Travel Co. | &nbsp;&nbsp;&nbsp;&nbsp;46279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4727 |
| <sup>\*</sup> | Gibraltar Industries Inc. | &nbsp;&nbsp;101006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594 |
|  | ManpowerGroup Inc. | &nbsp;&nbsp;158515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4434 |
| <sup>\*</sup> | Masterbrand Inc. | &nbsp;&nbsp;433626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4388 |
|  | Deluxe Corp. | &nbsp;&nbsp;154876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4298 |
|  | Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;62162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3794 |
| <sup>\*</sup> | Sun Country Airlines Holdings Inc. | &nbsp;&nbsp;180777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558 |
|  | Quanex Building Products Corp. | &nbsp;&nbsp;156858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3220 |
| <sup>\*</sup> | Vestis Corp. | &nbsp;&nbsp;385497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3034 |
|  | Apogee Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2951 |
| <sup>\*</sup> | Legalzoom.com Inc. | &nbsp;&nbsp;392882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2762 |
|  | Insperity Inc. | &nbsp;&nbsp;123107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734 |
|  | Marten Transport Ltd. | &nbsp;&nbsp;198937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2704 |
| <sup>\*</sup> | Liquidity Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583 |
| <sup>\*</sup> | American Woodmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497 |
|  | Insteel Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2486 |
|  | National Presto Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399 |
| <sup>\*,1</sup> | Hertz Global Holdings Inc. | &nbsp;&nbsp;427390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 |
| <sup>\*</sup> | Forward Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;76175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926 |
|  | Heartland Express Inc. | &nbsp;&nbsp;156819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1730 |
| <sup>\*</sup> | Titan International Inc. | &nbsp;&nbsp;164412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 |
|  |  |  | &nbsp;&nbsp;**963097** |
| **Information Technology (13.3%)** | **Information Technology (13.3%)** | **Information Technology (13.3%)** | **Information Technology (13.3%)** |
|  | InterDigital Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88297 | &nbsp;&nbsp;&nbsp;&nbsp;32364 |
| <sup>\*</sup> | SiTime Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75182 | &nbsp;&nbsp;&nbsp;&nbsp;29913 |
| <sup>\*</sup> | Sanmina Corp. | &nbsp;&nbsp;187130 | &nbsp;&nbsp;&nbsp;&nbsp;29054 |
| <sup>\*</sup> | Semtech Corp. | &nbsp;&nbsp;297557 | &nbsp;&nbsp;&nbsp;&nbsp;26846 |
| <sup>\*</sup> | FormFactor Inc. | &nbsp;&nbsp;265818 | &nbsp;&nbsp;&nbsp;&nbsp;26284 |
| <sup>\*</sup> | Qorvo Inc. | &nbsp;&nbsp;288278 | &nbsp;&nbsp;&nbsp;&nbsp;23898 |
| <sup>\*</sup> | Viavi Solutions Inc. | &nbsp;&nbsp;765411 | &nbsp;&nbsp;&nbsp;&nbsp;22740 |
| <sup>\*</sup> | Viasat Inc. | &nbsp;&nbsp;463747 | &nbsp;&nbsp;&nbsp;&nbsp;21230 |
| <sup>\*</sup> | Enphase Energy Inc. | &nbsp;&nbsp;448617 | &nbsp;&nbsp;&nbsp;&nbsp;18963 |
| <sup>\*</sup> | Mirion Technologies Inc. Class A | &nbsp;&nbsp;849437 | &nbsp;&nbsp;&nbsp;&nbsp;18356 |
| <sup>\*</sup> | Plexus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;92511 | &nbsp;&nbsp;&nbsp;&nbsp;17959 |
|  | Ralliant Corp. | &nbsp;&nbsp;386652 | &nbsp;&nbsp;&nbsp;&nbsp;17744 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | OSI Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54692 | &nbsp;&nbsp;&nbsp;&nbsp;15598 |
|  | Badger Meter Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100988 | &nbsp;&nbsp;&nbsp;&nbsp;15394 |
|  | Clear Secure Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;303748 | &nbsp;&nbsp;&nbsp;&nbsp;14774 |
| <sup>\*</sup> | Itron Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156948 | &nbsp;&nbsp;&nbsp;&nbsp;14745 |
| <sup>\*</sup> | ACI Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;353237 | &nbsp;&nbsp;&nbsp;&nbsp;14016 |
| <sup>\*</sup> | DigitalOcean Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;235088 | &nbsp;&nbsp;&nbsp;&nbsp;13179 |
|  | Kulicke & Soffa Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;178986 | &nbsp;&nbsp;&nbsp;&nbsp;12479 |
| <sup>\*</sup> | Box Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;497410 | &nbsp;&nbsp;&nbsp;&nbsp;11714 |
| <sup>\*,1</sup> | MARA Holdings Inc. | &nbsp;&nbsp;1298275 | &nbsp;&nbsp;&nbsp;&nbsp;11607 |
| <sup>\*</sup> | Impinj Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91983 | &nbsp;&nbsp;&nbsp;&nbsp;11283 |
| <sup>\*</sup> | Diodes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;159203 | &nbsp;&nbsp;&nbsp;&nbsp;10862 |
| <sup>\*</sup> | Calix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;207075 | &nbsp;&nbsp;&nbsp;&nbsp;10720 |
| <sup>\*</sup> | Q2 Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;214655 | &nbsp;&nbsp;&nbsp;&nbsp;10329 |
| <sup>\*</sup> | ACM Research Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;182857 | &nbsp;&nbsp;&nbsp;&nbsp;10182 |
| <sup>\*</sup> | Teradata Corp. | &nbsp;&nbsp;&nbsp;&nbsp;319726 | &nbsp;&nbsp;&nbsp;&nbsp;10068 |
| <sup>\*</sup> | RingCentral Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;263487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9604 |
| <sup>\*,1</sup> | Cleanspark Inc. | &nbsp;&nbsp;&nbsp;&nbsp;964334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9595 |
| <sup>\*</sup> | Ultra Clean Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;155800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9454 |
|  | Power Integrations Inc. | &nbsp;&nbsp;&nbsp;&nbsp;189775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9094 |
| <sup>\*</sup> | Insight Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;106199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8874 |
| <sup>\*</sup> | Axcelis Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;106272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8779 |
| <sup>\*</sup> | Alarm.com Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;171054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8185 |
| <sup>\*</sup> | Knowles Corp. | &nbsp;&nbsp;&nbsp;&nbsp;291973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7933 |
|  | Vishay Intertechnology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;423313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7924 |
|  | Adeia Inc. | &nbsp;&nbsp;&nbsp;&nbsp;375289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7765 |
| <sup>\*</sup> | Photronics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;202316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7573 |
| <sup>\*</sup> | DXC Technology Co. | &nbsp;&nbsp;&nbsp;&nbsp;597906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7528 |
| <sup>\*</sup> | SPS Commerce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;129315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7308 |
| <sup>\*,1</sup> | SolarEdge Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;205098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7261 |
|  | ePlus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246 |
|  | Benchmark Electronics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;122341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7073 |
| <sup>\*</sup> | NetScout Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;235639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6883 |
| <sup>\*</sup> | Extreme Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;458164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6405 |
| <sup>\*</sup> | Veeco Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;205980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6295 |
| <sup>\*</sup> | Agilysys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6287 |
| <sup>\*</sup> | Digi International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;127206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6210 |
| <sup>\*</sup> | Rogers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6175 |
| <sup>\*</sup> | Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;146914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6153 |
| <sup>\*</sup> | BlackLine Inc. | &nbsp;&nbsp;&nbsp;&nbsp;171117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6032 |
| <sup>\*</sup> | LiveRamp Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;217987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923 |
| <sup>\*</sup> | Arlo Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;363058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5696 |
| <sup>\*</sup> | Ichor Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;118029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5612 |
|  | CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5255 |
| <sup>\*</sup> | MaxLinear Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;281935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4914 |
| <sup>\*</sup> | Cohu Inc. | &nbsp;&nbsp;&nbsp;&nbsp;160452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4846 |
|  | A10 Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;245550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4729 |
| <sup>\*</sup> | Harmonic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;384195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084 |
| <sup>\*</sup> | PDF Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;109481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3698 |
| <sup>\*</sup> | NCR Voyix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;475426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632 |
| <sup>\*</sup> | Penguin Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;164372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3416 |
| <sup>\*</sup> | ScanSource Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556 |
| <sup>\*</sup> | Sprinklr Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;414808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2414 |
|  | PC Connection Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381 |
| <sup>\*</sup> | Alpha & Omega Semiconductor Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803 |
| <sup>\*</sup> | Grid Dynamics Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;226189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527 |
| <sup>\*</sup> | N-able Inc. | &nbsp;&nbsp;&nbsp;&nbsp;253437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115 |
| <sup>\*</sup> | Corsair Gaming Inc. | &nbsp;&nbsp;&nbsp;&nbsp;158827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872 |
|  |  |  | &nbsp;&nbsp;**718410** |
| **Materials (5.9%)** | **Materials (5.9%)** | **Materials (5.9%)** | **Materials (5.9%)** |
|  | Solstice Advanced Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;544322 | &nbsp;&nbsp;&nbsp;&nbsp;42735 |
|  | Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;391240 | &nbsp;&nbsp;&nbsp;&nbsp;29543 |
|  | Element Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;780108 | &nbsp;&nbsp;&nbsp;&nbsp;27374 |
|  | Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;504386 | &nbsp;&nbsp;&nbsp;&nbsp;21124 |
|  | Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;111021 | &nbsp;&nbsp;&nbsp;&nbsp;20143 |
|  | Celanese Corp. | &nbsp;&nbsp;&nbsp;&nbsp;375360 | &nbsp;&nbsp;&nbsp;&nbsp;18745 |
|  | Warrior Met Coal Inc. | &nbsp;&nbsp;&nbsp;&nbsp;180179 | &nbsp;&nbsp;&nbsp;&nbsp;14998 |
|  | Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;145551 | &nbsp;&nbsp;&nbsp;&nbsp;14778 |
|  | HB Fuller Co. | &nbsp;&nbsp;&nbsp;&nbsp;185290 | &nbsp;&nbsp;&nbsp;&nbsp;12177 |
|  | Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70999 | &nbsp;&nbsp;&nbsp;&nbsp;11577 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Hawkins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71528 | &nbsp;&nbsp;&nbsp;&nbsp;10665 |
| <sup>\*</sup> | Century Aluminum Co. | &nbsp;&nbsp;&nbsp;&nbsp;182677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9419 |
|  | Chemours Co. | &nbsp;&nbsp;&nbsp;&nbsp;513820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9372 |
| <sup>\*</sup> | Ingevity Corp. | &nbsp;&nbsp;&nbsp;&nbsp;123471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8894 |
|  | Minerals Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;106773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7540 |
|  | Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7171 |
| <sup>\*</sup> | O-I Glass Inc. | &nbsp;&nbsp;&nbsp;&nbsp;527322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7066 |
|  | Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6912 |
|  | Innospec Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6506 |
|  | FMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;427414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300 |
| <sup>\*</sup> | Alpha Metallurgical Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6018 |
|  | Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;113880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5273 |
|  | Worthington Steel Inc. | &nbsp;&nbsp;&nbsp;&nbsp;111384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4629 |
|  | Stepan Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3753 |
|  | Koppers Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543 |
| <sup>\*</sup> | Metallus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2092 |
|  | SunCoke Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;291051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659 |
|  |  |  | &nbsp;&nbsp;**319006** |
| **Real Estate (7.1%)** | **Real Estate (7.1%)** | **Real Estate (7.1%)** | **Real Estate (7.1%)** |
|  | CareTrust REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;765859 | &nbsp;&nbsp;&nbsp;&nbsp;31109 |
|  | Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;354944 | &nbsp;&nbsp;&nbsp;&nbsp;23448 |
|  | Essential Properties Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;680222 | &nbsp;&nbsp;&nbsp;&nbsp;23087 |
|  | Ryman Hospitality Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;216010 | &nbsp;&nbsp;&nbsp;&nbsp;21331 |
|  | Macerich Co. | &nbsp;&nbsp;&nbsp;&nbsp;877868 | &nbsp;&nbsp;&nbsp;&nbsp;17970 |
|  | Phillips Edison & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;431165 | &nbsp;&nbsp;&nbsp;&nbsp;16936 |
|  | Millrose Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;528410 | &nbsp;&nbsp;&nbsp;&nbsp;16571 |
|  | Tanger Inc. | &nbsp;&nbsp;&nbsp;&nbsp;394437 | &nbsp;&nbsp;&nbsp;&nbsp;14618 |
|  | Outfront Media Inc. | &nbsp;&nbsp;&nbsp;&nbsp;499454 | &nbsp;&nbsp;&nbsp;&nbsp;14389 |
| <sup>\*</sup> | Cushman & Wakefield Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;792947 | &nbsp;&nbsp;&nbsp;&nbsp;10633 |
|  | LXP Industrial Trust | &nbsp;&nbsp;&nbsp;&nbsp;202499 | &nbsp;&nbsp;&nbsp;&nbsp;10036 |
|  | St. Joe Co. | &nbsp;&nbsp;&nbsp;&nbsp;136730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9868 |
| <sup>1</sup> | Medical Properties Trust Inc. | &nbsp;&nbsp;1691712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9744 |
|  | Acadia Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;449718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9408 |
|  | Four Corners Property Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;363114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9267 |
|  | Apple Hospitality REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;754225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9247 |
|  | Curbline Properties Corp. | &nbsp;&nbsp;&nbsp;&nbsp;332176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9238 |
|  | Urban Edge Properties | &nbsp;&nbsp;&nbsp;&nbsp;431921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9178 |
|  | SL Green Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;243830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8985 |
|  | Highwoods Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;377087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8481 |
|  | DiamondRock Hospitality Co. | &nbsp;&nbsp;&nbsp;&nbsp;698054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7008 |
|  | LTC Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;163463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6486 |
|  | Global Net Lease Inc. | &nbsp;&nbsp;&nbsp;&nbsp;676030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6368 |
|  | Sunstone Hotel Investors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;650722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6039 |
|  | Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;182263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5982 |
|  | Douglas Emmett Inc. | &nbsp;&nbsp;&nbsp;&nbsp;574685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5684 |
|  | Veris Residential Inc. | &nbsp;&nbsp;&nbsp;&nbsp;278712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5254 |
|  | Alexander & Baldwin Inc. | &nbsp;&nbsp;&nbsp;&nbsp;249476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5187 |
|  | Innovative Industrial Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085 |
|  | Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;390288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5007 |
|  | Xenia Hotels & Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;324991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4966 |
|  | Kennedy-Wilson Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;411506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4477 |
|  | Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3590 |
|  | Easterly Government Properties Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;149827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488 |
|  | American Assets Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;161347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150 |
|  | JBG SMITH Properties | &nbsp;&nbsp;&nbsp;&nbsp;202572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3081 |
|  | Safehold Inc. | &nbsp;&nbsp;&nbsp;&nbsp;157688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2545 |
|  | Whitestone REIT | &nbsp;&nbsp;&nbsp;&nbsp;154180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2342 |
|  | Marcus & Millichap Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190 |
|  | eXp World Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;310960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167 |
|  | NexPoint Residential Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2097 |
|  | Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907 |
|  | Armada Hoffler Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;275705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1723 |
|  | Summit Hotel Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;362852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636 |
|  | Saul Centers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447 |
|  |  |  | &nbsp;&nbsp;**382450** |
| **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** |
|  | MDU Resources Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700012 | &nbsp;&nbsp;&nbsp;&nbsp;14476 |
|  | Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;143529 | &nbsp;&nbsp;&nbsp;&nbsp;12214 |
|  | Avista Corp. | &nbsp;&nbsp;&nbsp;&nbsp;278631 | &nbsp;&nbsp;&nbsp;&nbsp;11318 |

---

------

S&P Small-Cap 600 Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Clearway Energy Inc. Class C | &nbsp;&nbsp;291334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11161 |
|  | Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11037 |
|  | MGE Energy Inc. | &nbsp;&nbsp;125406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10286 |
|  | American States Water Co. | &nbsp;&nbsp;132909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9906 |
|  | California Water Service Group | &nbsp;&nbsp;204025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9197 |
| <sup>\*</sup> | Hawaiian Electric Industries Inc. | &nbsp;&nbsp;592296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9175 |
|  | Northwest Natural Holding Co. | &nbsp;&nbsp;142127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7538 |
|  | H2O America | &nbsp;&nbsp;114113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138 |
|  | Clearway Energy Inc. Class A | &nbsp;&nbsp;117953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4249 |
|  | Middlesex Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;62922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3398 |
|  | Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**123293** |
| **Total Common Stocks (Cost $4,368,014)** | **Total Common Stocks (Cost $4,368,014)** | **Total Common Stocks (Cost $4,368,014)** | **5400140** |
| **Rights (0.0%)** | **Rights (0.0%)** | **Rights (0.0%)** | **Rights (0.0%)** |
| <sup>\*,2</sup> | OmniAb Inc. 12.5 Earnout | &nbsp;&nbsp;&nbsp;&nbsp;27888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>\*,2</sup> | OmniAb Inc. 15 Earnout | &nbsp;&nbsp;&nbsp;&nbsp;27888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Rights (Cost $—)** | **Total Rights (Cost $—)** | **Total Rights (Cost $—)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** |
| **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** |
| <sup>3,4</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $37,796)** | &nbsp;&nbsp;378025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37799** |
| **Total Investments (100.6%) (Cost $4,405,810)** | **Total Investments (100.6%) (Cost $4,405,810)** |  | &nbsp;&nbsp;**5437939** |
| **Other Assets and Liabilities—Net (-0.6%)** | **Other Assets and Liabilities—Net (-0.6%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(31429)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**5406510** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $29,963. |
| 2 | Security value determined using significant unobservable inputs. |
| 3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 4 | Collateral of $32,276 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini Russell 2000 Index | March 2026 | 47 | 6192 | &nbsp;&nbsp;(89) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| Alkermes plc | 8/31/2026 | BANA | 2359 | (3.640) |  | (72) |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> BANA—Bank of America, N.A.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $4,368,014) | 5400140 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $37,796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37799 |
| Total Investments in Securities | 5437939 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3254 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 |
| **Total Assets** | **5442714** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32276 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3638 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36204** |
| **Net Assets** | **5406510** |
| 1 Includes $29,963 of securities on loan. |  |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 4981715 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;424795 |
| **Net Assets** | **5406510** |
| **ETF Shares—Net Assets** |  |
| **Applicable to 29,220,429 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **3497290** |
| **Net Asset Value Per Share—ETF Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$119.69** |
| **Institutional Shares—Net Assets** |  |
| **Applicable to 3,964,805 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1909220** |
| **Net Asset Value Per Share—Institutional Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$481.54** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29745 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29947 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| Shareholders' Reports—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 |
| Shareholders' Reports—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1361 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28586** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265225 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**266378** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221146 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72) |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**220932** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**515896** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $42. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $70, $1, and ($1), respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $357,923 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65702 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;266378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93744 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;220932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4419) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;515896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155027 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;(41772) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45054) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;(24392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25447) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(66164) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70501) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;188186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71163 | &nbsp;&nbsp;&nbsp;&nbsp;(341996) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;259349 | &nbsp;&nbsp;&nbsp;&nbsp;(284290) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;709081 | &nbsp;&nbsp;&nbsp;&nbsp;(199764) |
| **Net Assets** |  |  |
| **Beginning of Period** | **4697429** | &nbsp;&nbsp;&nbsp;**4897193** |
| **End of Period** | **5406510** | &nbsp;&nbsp;&nbsp;**4697429** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023<sup>1</sup> | &nbsp;&nbsp;&nbsp;2022<sup>1</sup> | &nbsp;&nbsp;&nbsp;2021<sup>1</sup> |
| **Net Asset Value, Beginning of Period** | **$109.46** | &nbsp;&nbsp;&nbsp;**$107.36** | &nbsp;&nbsp;&nbsp;&nbsp;**$92.94** | &nbsp;&nbsp;&nbsp;**$89.49** | &nbsp;&nbsp;&nbsp;**$103.20** | &nbsp;&nbsp;&nbsp;&nbsp;**$67.80** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.143 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;11.092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.266 | &nbsp;&nbsp;&nbsp;&nbsp;(13.765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35.170 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;11.738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.761 | &nbsp;&nbsp;&nbsp;&nbsp;(12.492) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36.313 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(1.508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.459) | &nbsp;&nbsp;&nbsp;&nbsp;(1.311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.913) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(1.508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.459) | &nbsp;&nbsp;&nbsp;&nbsp;(1.311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.913) |
| **Net Asset Value, End of Period** | **$119.69** | &nbsp;&nbsp;&nbsp;**$109.46** | &nbsp;&nbsp;&nbsp;**$107.36** | &nbsp;&nbsp;&nbsp;**$92.94** | &nbsp;&nbsp;&nbsp;&nbsp;**$89.49** | &nbsp;&nbsp;&nbsp;**$103.20** |
| **Total Return** | **10.79%** | &nbsp;&nbsp;&nbsp;**3.46%** | &nbsp;&nbsp;&nbsp;**17.25%** | &nbsp;&nbsp;&nbsp;**5.44%** | &nbsp;&nbsp;&nbsp;**-12.26%** | &nbsp;&nbsp;&nbsp;**53.88%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $3497 | &nbsp;&nbsp;&nbsp;$3021 | &nbsp;&nbsp;&nbsp;$2915 | &nbsp;&nbsp;&nbsp;$2265 | &nbsp;&nbsp;&nbsp;$2027 | &nbsp;&nbsp;&nbsp;$1806 |
| Ratio of Total Expenses to Average Net Assets | 0.07% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.10%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.10% |
| Ratio of Net Investment Income to Average Net Assets | 1.29% | &nbsp;&nbsp;&nbsp;1.40% | &nbsp;&nbsp;&nbsp;1.68% | &nbsp;&nbsp;&nbsp;1.67% | &nbsp;&nbsp;&nbsp;1.31% | &nbsp;&nbsp;&nbsp;1.25% |
| Portfolio Turnover Rate<sup>4</sup> | 15% | &nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;26% | &nbsp;&nbsp;&nbsp;19% | &nbsp;&nbsp;&nbsp;12% | &nbsp;&nbsp;&nbsp;18% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Adjusted to reflect a 2-for-1 share split effective March 13, 2023. |
| 2 | Calculated based on average shares outstanding. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.10%. |
| 4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$440.45** | &nbsp;&nbsp;&nbsp;**$431.91** | &nbsp;&nbsp;&nbsp;**$373.91** | &nbsp;&nbsp;&nbsp;**$360.00** | &nbsp;&nbsp;&nbsp;**$415.16** | &nbsp;&nbsp;&nbsp;**$272.71** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.566 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;44.609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57.388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.135 | &nbsp;&nbsp;&nbsp;&nbsp;(55.426) | &nbsp;&nbsp;&nbsp;&nbsp;141.589 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;47.315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63.939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.222 | &nbsp;&nbsp;&nbsp;&nbsp;(50.200) | &nbsp;&nbsp;&nbsp;&nbsp;146.155 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(6.225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.939) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.705) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(6.225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.939) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.705) |
| **Net Asset Value, End of Period** | **$481.54** | &nbsp;&nbsp;&nbsp;**$440.45** | &nbsp;&nbsp;&nbsp;**$431.91** | &nbsp;&nbsp;&nbsp;**$373.91** | &nbsp;&nbsp;&nbsp;**$360.00** | &nbsp;&nbsp;&nbsp;**$415.16** |
| **Total Return** | **10.82%** | &nbsp;&nbsp;&nbsp;**3.49%** | &nbsp;&nbsp;&nbsp;**17.24%** | &nbsp;&nbsp;&nbsp;**5.46%** | &nbsp;&nbsp;&nbsp;**-12.21%** | &nbsp;&nbsp;&nbsp;**53.93%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $1909 | &nbsp;&nbsp;&nbsp;$1676 | &nbsp;&nbsp;&nbsp;$1982 | &nbsp;&nbsp;&nbsp;$1929 | &nbsp;&nbsp;&nbsp;$1996 | &nbsp;&nbsp;&nbsp;$1852 |
| Ratio of Total Expenses to Average Net Assets | 0.03% | &nbsp;&nbsp;&nbsp;0.05% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.08% |
| Ratio of Net Investment Income to Average Net Assets | 1.34% | &nbsp;&nbsp;&nbsp;1.47% | &nbsp;&nbsp;&nbsp;1.70% | &nbsp;&nbsp;&nbsp;1.69% | &nbsp;&nbsp;&nbsp;1.34% | &nbsp;&nbsp;&nbsp;1.26% |
| Portfolio Turnover Rate<sup>3</sup> | 15% | &nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;26% | &nbsp;&nbsp;&nbsp;19% | &nbsp;&nbsp;&nbsp;12% | &nbsp;&nbsp;&nbsp;18% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
| 3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Index Fund

Notes to Financial Statements

Vanguard S&P Small-Cap 600 Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

S&P Small-Cap 600 Index Fund

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $121,000, representing less than 0.01% of the fund's net assets and 0.05% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P Small-Cap 600 Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 5400140 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5400140 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37799 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37799 |
| Total | 5437939 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5437939 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(72) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72) |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89) | &nbsp;&nbsp;&nbsp;(72) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(161) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;4424211 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;1490457 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(476890) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;1013567 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $857,744,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $787,794,000 of investment securities and sold $733,578,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $747,947,000 and $567,679,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $53,736,000 and sales were $86,971,000, resulting in net realized loss of $8,840,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital share transactions for each class of shares were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;766908 | &nbsp;&nbsp;&nbsp;&nbsp;6720 | &nbsp;&nbsp;&nbsp;&nbsp;636993 | &nbsp;&nbsp;&nbsp;&nbsp;6075 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (578722) | &nbsp;&nbsp;&nbsp;(5100) | &nbsp;&nbsp;&nbsp;(579287) | &nbsp;&nbsp;&nbsp;(5625) |
| Net Increase (Decrease)—ETF Shares | &nbsp;&nbsp;188186 | &nbsp;&nbsp;&nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 |
| **Institutional Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;255618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;221062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;22997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 |
| Redeemed | (207452) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(454) | &nbsp;&nbsp;&nbsp;(585492) | &nbsp;&nbsp;&nbsp;(1370) |
| Net Increase (Decrease)—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;71163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;(341996) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(784) |

---

H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

------

S&P Small-Cap 600 Index Fund

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18452 042026

------

![](tm268191d2sp500valfindfui001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P 500 Value Index Fund

------

Contents

Financial Statements 1 <br>

------

S&P 500 Value Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.6%)** | **Common Stocks (99.6%)** | **Common Stocks (99.6%)** | **Common Stocks (99.6%)** |
| **Communication Services (3.6%)** | **Communication Services (3.6%)** | **Communication Services (3.6%)** | **Communication Services (3.6%)** |
|  | Verizon Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;966377 | &nbsp;&nbsp;&nbsp;&nbsp;48454 |
|  | AT&T Inc. | &nbsp;&nbsp;1624837 | &nbsp;&nbsp;&nbsp;&nbsp;45512 |
|  | Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;409086 | &nbsp;&nbsp;&nbsp;&nbsp;43379 |
|  | Comcast Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;831952 | &nbsp;&nbsp;&nbsp;&nbsp;25757 |
|  | T-Mobile US Inc. | &nbsp;&nbsp;&nbsp;&nbsp;110242 | &nbsp;&nbsp;&nbsp;&nbsp;23932 |
| <sup>\*</sup> | Warner Bros Discovery Inc. | &nbsp;&nbsp;&nbsp;&nbsp;568084 | &nbsp;&nbsp;&nbsp;&nbsp;16003 |
|  | Omnicom Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6233 |
|  | Electronic Arts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5456 |
| <sup>\*</sup> | Charter Communications Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4730 |
| <sup>\*</sup> | Take-Two Interactive Software Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039 |
| <sup>\*</sup> | Live Nation Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761 |
| <sup>\*</sup> | Trade Desk Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;100822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2402 |
|  | News Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121 |
|  | Match Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 |
|  | Paramount Skydance Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962 |
|  | Fox Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908 |
|  | News Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 |
|  | Fox Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 |
| <sup>\*</sup> | Versant Media Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
|  |  |  | &nbsp;&nbsp;**235694** |
| **Consumer Discretionary (10.6%)** | **Consumer Discretionary (10.6%)** | **Consumer Discretionary (10.6%)** | **Consumer Discretionary (10.6%)** |
| <sup>\*</sup> | Amazon.com Inc. | &nbsp;&nbsp;1047695 | &nbsp;&nbsp;220016 |
| <sup>\*</sup> | Tesla Inc. | &nbsp;&nbsp;&nbsp;&nbsp;244673 | &nbsp;&nbsp;&nbsp;&nbsp;98483 |
|  | Home Depot Inc. | &nbsp;&nbsp;&nbsp;&nbsp;228082 | &nbsp;&nbsp;&nbsp;&nbsp;86835 |
|  | Lowe's Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;128526 | &nbsp;&nbsp;&nbsp;&nbsp;34004 |
|  | McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91394 | &nbsp;&nbsp;&nbsp;&nbsp;31171 |
|  | Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;260560 | &nbsp;&nbsp;&nbsp;&nbsp;25540 |
|  | TJX Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;114713 | &nbsp;&nbsp;&nbsp;&nbsp;18545 |
|  | NIKE Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;272238 | &nbsp;&nbsp;&nbsp;&nbsp;16928 |
|  | General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;213866 | &nbsp;&nbsp;&nbsp;&nbsp;16834 |
|  | Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;897290 | &nbsp;&nbsp;&nbsp;&nbsp;12643 |
| <sup>\*</sup> | Chipotle Mexican Grill Inc. | &nbsp;&nbsp;&nbsp;&nbsp;303295 | &nbsp;&nbsp;&nbsp;&nbsp;11289 |
|  | DR Horton Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62805 | &nbsp;&nbsp;&nbsp;&nbsp;10073 |
|  | Garmin Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9465 |
|  | Ross Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7962 |
| <sup>\*</sup> | Airbnb Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6974 |
|  | Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;121069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6276 |
|  | PulteGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6140 |
|  | Williams-Sonoma Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5752 |
|  | Darden Restaurants Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5689 |
|  | Lennar Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5655 |
|  | Yum! Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5458 |
| <sup>\*</sup> | Carvana Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5298 |
| <sup>\*</sup> | AutoZone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5014 |
| <sup>\*</sup> | NVR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4849 |
| <sup>\*</sup> | Lululemon Athletica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4589 |
| <sup>\*</sup> | Deckers Outdoor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3915 |
|  | Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3802 |
| <sup>\*</sup> | Aptiv plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3642 |
|  | Hasbro Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3042 |
|  | Domino's Pizza Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864 |
|  | Best Buy Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2775 |
|  | eBay Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2450 |
| <sup>\*</sup> | MGM Resorts International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733 |
|  | Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706 |
| <sup>\*</sup> | Norwegian Cruise Line Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132 |
|  |  |  | &nbsp;&nbsp;**688543** |
| **Consumer Staples (10.0%)** | **Consumer Staples (10.0%)** | **Consumer Staples (10.0%)** | **Consumer Staples (10.0%)** |
|  | Walmart Inc. | &nbsp;&nbsp;1004820 | &nbsp;&nbsp;128567 |

---

------

S&P 500 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;101552 | &nbsp;&nbsp;102648 |
|  | Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;534977 | &nbsp;&nbsp;&nbsp;&nbsp;89448 |
|  | PepsiCo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;313350 | &nbsp;&nbsp;&nbsp;&nbsp;53188 |
|  | Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;514508 | &nbsp;&nbsp;&nbsp;&nbsp;41963 |
|  | Philip Morris International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156986 | &nbsp;&nbsp;&nbsp;&nbsp;29330 |
|  | Altria Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;384659 | &nbsp;&nbsp;&nbsp;&nbsp;26557 |
|  | Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;184803 | &nbsp;&nbsp;&nbsp;&nbsp;18321 |
|  | Mondelez International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;295157 | &nbsp;&nbsp;&nbsp;&nbsp;18176 |
|  | Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;104120 | &nbsp;&nbsp;&nbsp;&nbsp;11848 |
|  | Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;109714 | &nbsp;&nbsp;&nbsp;&nbsp;10002 |
|  | Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;139688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9532 |
|  | Keurig Dr Pepper Inc. | &nbsp;&nbsp;&nbsp;&nbsp;311283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9426 |
|  | Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 |
|  | Kenvue Inc. | &nbsp;&nbsp;&nbsp;&nbsp;438971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8393 |
|  | Hershey Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8020 |
|  | Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7879 |
|  | Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;110117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7602 |
|  | Estee Lauder Cos. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166 |
|  | Church & Dwight Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5799 |
|  | General Mills Inc. | &nbsp;&nbsp;&nbsp;&nbsp;122228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5528 |
| <sup>\*</sup> | Dollar Tree Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5499 |
|  | Constellation Brands Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5098 |
|  | Kraft Heinz Co. | &nbsp;&nbsp;&nbsp;&nbsp;195276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4806 |
|  | Tyson Foods Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4215 |
|  | McCormick & Co. Inc. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4122 |
|  | Bunge Global SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3741 |
|  | Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3553 |
|  | J M Smucker Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2834 |
|  | Conagra Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;109599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110 |
|  | Molson Coors Beverage Co. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901 |
|  | Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 |
|  | Lamb Weston Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539 |
|  | Campbell's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213 |
|  | Brown-Forman Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165 |
|  |  |  | &nbsp;&nbsp;**650399** |
| **Energy (7.2%)** | **Energy (7.2%)** | **Energy (7.2%)** | **Energy (7.2%)** |
|  | Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;966218 | &nbsp;&nbsp;147348 |
|  | Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;433625 | &nbsp;&nbsp;&nbsp;&nbsp;80984 |
|  | ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;282899 | &nbsp;&nbsp;&nbsp;&nbsp;32098 |
|  | Williams Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;279997 | &nbsp;&nbsp;&nbsp;&nbsp;20921 |
|  | SLB Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;342285 | &nbsp;&nbsp;&nbsp;&nbsp;17573 |
|  | EOG Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;124405 | &nbsp;&nbsp;&nbsp;&nbsp;15436 |
|  | Kinder Morgan Inc. | &nbsp;&nbsp;&nbsp;&nbsp;448898 | &nbsp;&nbsp;&nbsp;&nbsp;14935 |
|  | Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;226091 | &nbsp;&nbsp;&nbsp;&nbsp;14755 |
|  | Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69931 | &nbsp;&nbsp;&nbsp;&nbsp;14311 |
|  | Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92382 | &nbsp;&nbsp;&nbsp;&nbsp;14257 |
|  | Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68915 | &nbsp;&nbsp;&nbsp;&nbsp;13660 |
|  | ONEOK Inc. | &nbsp;&nbsp;&nbsp;&nbsp;144348 | &nbsp;&nbsp;&nbsp;&nbsp;11948 |
|  | Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49127 | &nbsp;&nbsp;&nbsp;&nbsp;11584 |
|  | EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;142990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8782 |
|  | Occidental Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;164792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8747 |
|  | Diamondback Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7428 |
|  | Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6954 |
|  | Halliburton Co. | &nbsp;&nbsp;&nbsp;&nbsp;192851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6943 |
|  | Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;143743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6257 |
|  | Expand Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5889 |
|  | Coterra Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;174455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5337 |
|  | APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2468 |
|  |  |  | &nbsp;&nbsp;**468615** |
| **Financials (15.3%)** | **Financials (15.3%)** | **Financials (15.3%)** | **Financials (15.3%)** |
|  | Bank of America Corp. | &nbsp;&nbsp;1467740 | &nbsp;&nbsp;&nbsp;&nbsp;73137 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;719316 | &nbsp;&nbsp;&nbsp;&nbsp;58588 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;187361 | &nbsp;&nbsp;&nbsp;&nbsp;56264 |
|  | Visa Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;174022 | &nbsp;&nbsp;&nbsp;&nbsp;55711 |
|  | Citigroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;386440 | &nbsp;&nbsp;&nbsp;&nbsp;42582 |
|  | Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;382793 | &nbsp;&nbsp;&nbsp;&nbsp;36442 |
|  | Blackrock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33072 | &nbsp;&nbsp;&nbsp;&nbsp;35163 |
|  | Mastercard Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62012 | &nbsp;&nbsp;&nbsp;&nbsp;32073 |
|  | Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83887 | &nbsp;&nbsp;&nbsp;&nbsp;28594 |

---

------

S&P 500 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Capital One Financial Corp. | &nbsp;&nbsp;145721 | &nbsp;&nbsp;&nbsp;&nbsp;28509 |
|  | Intercontinental Exchange Inc. | &nbsp;&nbsp;130676 | &nbsp;&nbsp;&nbsp;&nbsp;21448 |
|  | Marsh & McLennan Cos. Inc. | &nbsp;&nbsp;112306 | &nbsp;&nbsp;&nbsp;&nbsp;20972 |
|  | Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22892 | &nbsp;&nbsp;&nbsp;&nbsp;19677 |
|  | US Bancorp | &nbsp;&nbsp;356160 | &nbsp;&nbsp;&nbsp;&nbsp;19468 |
|  | Blackstone Inc. | &nbsp;&nbsp;169252 | &nbsp;&nbsp;&nbsp;&nbsp;19188 |
|  | PNC Financial Services Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89856 | &nbsp;&nbsp;&nbsp;&nbsp;19081 |
|  | Morgan Stanley | &nbsp;&nbsp;107877 | &nbsp;&nbsp;&nbsp;&nbsp;17963 |
|  | S&P Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39783 | &nbsp;&nbsp;&nbsp;&nbsp;17579 |
|  | Aon plc Class A | &nbsp;&nbsp;&nbsp;&nbsp;49214 | &nbsp;&nbsp;&nbsp;&nbsp;16510 |
|  | Travelers Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51067 | &nbsp;&nbsp;&nbsp;&nbsp;15761 |
|  | Truist Financial Corp. | &nbsp;&nbsp;293082 | &nbsp;&nbsp;&nbsp;&nbsp;14452 |
|  | Arthur J Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;58886 | &nbsp;&nbsp;&nbsp;&nbsp;13438 |
|  | Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60008 | &nbsp;&nbsp;&nbsp;&nbsp;12873 |
|  | Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59081 | &nbsp;&nbsp;&nbsp;&nbsp;12623 |
|  | Aflac Inc. | &nbsp;&nbsp;108163 | &nbsp;&nbsp;&nbsp;&nbsp;12215 |
|  | American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;39374 | &nbsp;&nbsp;&nbsp;&nbsp;12163 |
|  | CME Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36324 | &nbsp;&nbsp;&nbsp;&nbsp;11605 |
|  | Fifth Third Bancorp | &nbsp;&nbsp;206000 | &nbsp;&nbsp;&nbsp;&nbsp;10191 |
|  | Ameriprise Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21313 | &nbsp;&nbsp;&nbsp;&nbsp;10020 |
|  | American International Group Inc. | &nbsp;&nbsp;123467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9938 |
|  | PayPal Holdings Inc. | &nbsp;&nbsp;200387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9260 |
| <sup>\*</sup> | Coinbase Global Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;52324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9201 |
|  | MetLife Inc. | &nbsp;&nbsp;126939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9148 |
|  | Nasdaq Inc. | &nbsp;&nbsp;103311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9048 |
|  | Hartford Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8992 |
|  | Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8726 |
| <sup>\*</sup> | Arch Capital Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;82676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8280 |
|  | State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8232 |
| <sup>\*</sup> | Block Inc. Class A | &nbsp;&nbsp;125512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7995 |
|  | Prudential Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7897 |
|  | Huntington Bancshares Inc. | &nbsp;&nbsp;465813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7826 |
| <sup>\*</sup> | Fiserv Inc. | &nbsp;&nbsp;123376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7685 |
|  | M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7640 |
|  | Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7034 |
|  | Willis Towers Watson plc | &nbsp;&nbsp;&nbsp;&nbsp;21927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6691 |
|  | KKR & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6352 |
|  | Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6202 |
|  | Raymond James Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6181 |
|  | Fidelity National Information Services Inc. | &nbsp;&nbsp;118656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6047 |
|  | Citizens Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923 |
|  | Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;82376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5693 |
|  | Regions Financial Corp. | &nbsp;&nbsp;200935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5592 |
|  | Ares Management Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;47201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5287 |
|  | Apollo Global Management Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5225 |
| <sup>\*</sup> | Corpay Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5205 |
|  | Brown & Brown Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4823 |
|  | T. Rowe Price Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4732 |
|  | MSCI Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4714 |
|  | KeyCorp | &nbsp;&nbsp;212852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4415 |
|  | Principal Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4371 |
|  | Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4273 |
|  | Global Payments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4129 |
|  | Cboe Global Markets Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3517 |
|  | Everest Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3226 |
|  | Jack Henry & Associates Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690 |
|  | Invesco Ltd. | &nbsp;&nbsp;101980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2678 |
|  | Globe Life Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650 |
|  | Assurant Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2637 |
|  | Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2406 |
|  | W R Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121 |
|  | Franklin Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1869 |
|  | FactSet Research Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858 |
|  | Erie Indemnity Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562 |
|  |  |  | &nbsp;&nbsp;**994261** |
| **Health Care (12.7%)** | **Health Care (12.7%)** | **Health Care (12.7%)** | **Health Care (12.7%)** |
|  | Merck & Co. Inc. | &nbsp;&nbsp;568766 | &nbsp;&nbsp;&nbsp;&nbsp;70425 |
|  | UnitedHealth Group Inc. | &nbsp;&nbsp;207391 | &nbsp;&nbsp;&nbsp;&nbsp;60822 |
|  | Johnson & Johnson | &nbsp;&nbsp;226324 | &nbsp;&nbsp;&nbsp;&nbsp;56226 |

---

------

S&P 500 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | AbbVie Inc. | &nbsp;&nbsp;&nbsp;&nbsp;218669 | &nbsp;&nbsp;&nbsp;&nbsp;50749 |
|  | Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;398470 | &nbsp;&nbsp;&nbsp;&nbsp;46362 |
|  | Thermo Fisher Scientific Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86103 | &nbsp;&nbsp;&nbsp;&nbsp;44869 |
|  | Pfizer Inc. | &nbsp;&nbsp;1303024 | &nbsp;&nbsp;&nbsp;&nbsp;36029 |
|  | Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;144077 | &nbsp;&nbsp;&nbsp;&nbsp;30348 |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;466530 | &nbsp;&nbsp;&nbsp;&nbsp;29097 |
| <sup>\*</sup> | Vertex Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58138 | &nbsp;&nbsp;&nbsp;&nbsp;28885 |
|  | Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp;293941 | &nbsp;&nbsp;&nbsp;&nbsp;28706 |
|  | McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28298 | &nbsp;&nbsp;&nbsp;&nbsp;27941 |
|  | CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;290988 | &nbsp;&nbsp;&nbsp;&nbsp;23250 |
|  | Gilead Sciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;130857 | &nbsp;&nbsp;&nbsp;&nbsp;19491 |
|  | Regeneron Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23099 | &nbsp;&nbsp;&nbsp;&nbsp;18056 |
|  | Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61239 | &nbsp;&nbsp;&nbsp;&nbsp;17748 |
|  | Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45762 | &nbsp;&nbsp;&nbsp;&nbsp;17731 |
|  | Cencora Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44442 | &nbsp;&nbsp;&nbsp;&nbsp;16539 |
|  | Elevance Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50041 | &nbsp;&nbsp;&nbsp;&nbsp;16013 |
|  | Amgen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39449 | &nbsp;&nbsp;&nbsp;&nbsp;15312 |
|  | Zoetis Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100860 | &nbsp;&nbsp;&nbsp;&nbsp;13223 |
|  | Cardinal Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54488 | &nbsp;&nbsp;&nbsp;&nbsp;12490 |
|  | Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65711 | &nbsp;&nbsp;&nbsp;&nbsp;11597 |
|  | GE HealthCare Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8796 |
| <sup>\*</sup> | Boston Scientific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;112017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8608 |
|  | Agilent Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7885 |
| <sup>\*</sup> | Waters Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7197 |
| <sup>\*</sup> | IQVIA Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6978 |
| <sup>\*</sup> | Biogen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448 |
| <sup>\*</sup> | Edwards Lifesciences Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6203 |
|  | Labcorp Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5494 |
|  | Quest Diagnostics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5402 |
|  | Humana Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5251 |
| <sup>\*</sup> | Centene Corp. | &nbsp;&nbsp;&nbsp;&nbsp;106991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4802 |
|  | Zimmer Biomet Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4470 |
| <sup>\*</sup> | Moderna Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4268 |
|  | West Pharmaceutical Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4193 |
|  | Viatris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;263915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3940 |
|  | ResMed Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855 |
| <sup>\*</sup> | Hologic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843 |
| <sup>\*</sup> | Cooper Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3811 |
| <sup>\*</sup> | Mettler-Toledo International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3389 |
| <sup>\*</sup> | Dexcom Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3218 |
| <sup>\*</sup> | Align Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2906 |
|  | STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2831 |
|  | Universal Health Services Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608 |
|  | Revvity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2554 |
| <sup>\*</sup> | Solventum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506 |
|  | Baxter International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399 |
|  | Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2107 |
| <sup>\*</sup> | Charles River Laboratories International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012 |
| <sup>\*</sup> | Henry Schein Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889 |
| <sup>\*</sup> | Molina Healthcare Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1815 |
| <sup>\*</sup> | DaVita Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257 |
|  |  |  | &nbsp;&nbsp;**824844** |
| **Industrials (11.8%)** | **Industrials (11.8%)** | **Industrials (11.8%)** | **Industrials (11.8%)** |
|  | GE Aerospace | &nbsp;&nbsp;&nbsp;&nbsp;116022 | &nbsp;&nbsp;&nbsp;&nbsp;39710 |
|  | Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57607 | &nbsp;&nbsp;&nbsp;&nbsp;36276 |
|  | Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;135917 | &nbsp;&nbsp;&nbsp;&nbsp;36015 |
|  | Honeywell International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;145485 | &nbsp;&nbsp;&nbsp;&nbsp;35439 |
|  | Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89045 | &nbsp;&nbsp;&nbsp;&nbsp;33474 |
|  | Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46668 | &nbsp;&nbsp;&nbsp;&nbsp;30711 |
| <sup>\*</sup> | Boeing Co. | &nbsp;&nbsp;&nbsp;&nbsp;100492 | &nbsp;&nbsp;&nbsp;&nbsp;22865 |
|  | Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30747 | &nbsp;&nbsp;&nbsp;&nbsp;22272 |
|  | Waste Management Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84966 | &nbsp;&nbsp;&nbsp;&nbsp;20463 |
|  | 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;121752 | &nbsp;&nbsp;&nbsp;&nbsp;20128 |
|  | Automatic Data Processing Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92741 | &nbsp;&nbsp;&nbsp;&nbsp;19880 |
|  | United Parcel Service Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;169107 | &nbsp;&nbsp;&nbsp;&nbsp;19610 |
|  | FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49770 | &nbsp;&nbsp;&nbsp;&nbsp;19261 |
|  | CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;426972 | &nbsp;&nbsp;&nbsp;&nbsp;18227 |
|  | Illinois Tool Works Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60531 | &nbsp;&nbsp;&nbsp;&nbsp;17592 |
|  | Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51448 | &nbsp;&nbsp;&nbsp;&nbsp;16193 |

---

------

S&P 500 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78220 | &nbsp;&nbsp;&nbsp;&nbsp;15732 |
|  | L3Harris Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42872 | &nbsp;&nbsp;&nbsp;&nbsp;15629 |
|  | PACCAR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120406 | &nbsp;&nbsp;&nbsp;&nbsp;15182 |
|  | Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92798 | &nbsp;&nbsp;&nbsp;&nbsp;13989 |
|  | Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12710 | &nbsp;&nbsp;&nbsp;&nbsp;12827 |
|  | AMETEK Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52725 | &nbsp;&nbsp;&nbsp;&nbsp;12613 |
|  | Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;263384 | &nbsp;&nbsp;&nbsp;&nbsp;12126 |
|  | Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;181280 | &nbsp;&nbsp;&nbsp;&nbsp;11674 |
|  | WW Grainger Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10023 | &nbsp;&nbsp;&nbsp;&nbsp;11474 |
|  | Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23871 | &nbsp;&nbsp;&nbsp;&nbsp;11036 |
|  | Republic Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46067 | &nbsp;&nbsp;&nbsp;&nbsp;10549 |
|  | Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39137 | &nbsp;&nbsp;&nbsp;&nbsp;10330 |
|  | Delta Air Lines Inc. | &nbsp;&nbsp;&nbsp;&nbsp;148805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9776 |
|  | General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9746 |
|  | Old Dominion Freight Line Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8562 |
|  | Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8266 |
| <sup>\*</sup> | United Airlines Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7877 |
|  | Ingersoll Rand Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7769 |
| <sup>\*</sup> | Copart Inc. | &nbsp;&nbsp;&nbsp;&nbsp;203799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7763 |
|  | Xylem Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7229 |
|  | Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 |
|  | Paychex Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6948 |
|  | Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6866 |
|  | Hubbell Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6222 |
|  | Cummins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6091 |
|  | Equifax Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5860 |
|  | Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;118500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5837 |
|  | Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5545 |
|  | United Rentals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5398 |
|  | Leidos Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5131 |
|  | CH Robinson Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5015 |
|  | Broadridge Financial Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4962 |
|  | Rockwell Automation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717 |
|  | Snap-on Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4591 |
|  | Expeditors International of Washington Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4453 |
|  | Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4309 |
|  | Lennox International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4168 |
|  | JB Hunt Transport Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4022 |
|  | Huntington Ingalls Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3997 |
|  | Textron Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3985 |
|  | Jacobs Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3776 |
|  | Pentair plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3731 |
|  | IDEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592 |
|  | Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3588 |
|  | Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3401 |
| <sup>\*</sup> | Axon Enterprise Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3332 |
|  | Verisk Analytics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3119 |
|  | Stanley Black & Decker Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3069 |
| <sup>\*</sup> | Generac Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022 |
| <sup>\*</sup> | Builders FirstSource Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 |
|  | A O Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026 |
|  | Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461 |
|  | Paycom Software Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401 |
|  |  |  | &nbsp;&nbsp;**771636** |
| **Information Technology (16.5%)** | **Information Technology (16.5%)** | **Information Technology (16.5%)** | **Information Technology (16.5%)** |
|  | Apple Inc. | &nbsp;&nbsp;1692945 | &nbsp;&nbsp;447244 |
| <sup>\*</sup> | Intel Corp. | &nbsp;&nbsp;1026556 | &nbsp;&nbsp;&nbsp;&nbsp;46821 |
|  | Texas Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;208240 | &nbsp;&nbsp;&nbsp;&nbsp;44170 |
|  | Salesforce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;218221 | &nbsp;&nbsp;&nbsp;&nbsp;42507 |
|  | Analog Devices Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112757 | &nbsp;&nbsp;&nbsp;&nbsp;40118 |
|  | QUALCOMM Inc. | &nbsp;&nbsp;&nbsp;&nbsp;245467 | &nbsp;&nbsp;&nbsp;&nbsp;34945 |
|  | Cisco Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;424596 | &nbsp;&nbsp;&nbsp;&nbsp;33738 |
|  | Accenture plc Class A | &nbsp;&nbsp;&nbsp;&nbsp;141998 | &nbsp;&nbsp;&nbsp;&nbsp;29638 |
|  | Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;185026 | &nbsp;&nbsp;&nbsp;&nbsp;26903 |
| <sup>\*</sup> | Adobe Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95971 | &nbsp;&nbsp;&nbsp;&nbsp;25184 |
|  | International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;102847 | &nbsp;&nbsp;&nbsp;&nbsp;24705 |
|  | Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78378 | &nbsp;&nbsp;&nbsp;&nbsp;21922 |
|  | Motorola Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38132 | &nbsp;&nbsp;&nbsp;&nbsp;18390 |
| <sup>\*</sup> | Synopsys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42580 | &nbsp;&nbsp;&nbsp;&nbsp;17628 |

---

------

S&P 500 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;57722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13103 |
| <sup>\*</sup> | Keysight Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12103 |
| <sup>\*</sup> | Palo Alto Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11939 |
|  | Intuit Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11494 |
|  | Dell Technologies Inc. Class C | &nbsp;&nbsp;&nbsp;&nbsp;69033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10222 |
| <sup>\*</sup> | ServiceNow Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10007 |
|  | Microchip Technology Inc. | &nbsp;&nbsp;123834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9243 |
|  | Roper Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8641 |
|  | Corning Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8322 |
| <sup>\*</sup> | Teledyne Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7325 |
|  | Seagate Technology Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;17952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7322 |
|  | Cognizant Technology Solutions Corp. Class A | &nbsp;&nbsp;110793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7138 |
| <sup>\*</sup> | Cadence Design Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6946 |
|  | Hewlett Packard Enterprise Co. | &nbsp;&nbsp;302310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6491 |
| <sup>\*</sup> | ON Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;92206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6130 |
|  | Qnity Electronics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6083 |
| <sup>\*</sup> | Autodesk Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5042 |
|  | Teradyne Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4815 |
|  | TE Connectivity plc | &nbsp;&nbsp;&nbsp;&nbsp;20873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4804 |
|  | NetApp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4410 |
| <sup>\*</sup> | PTC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4288 |
| <sup>\*</sup> | Fortinet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4232 |
|  | HP Inc. | &nbsp;&nbsp;214166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4067 |
| <sup>\*</sup> | Fair Isaac Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3905 |
| <sup>\*</sup> | Workday Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;27831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723 |
| <sup>\*</sup> | Super Micro Computer Inc. | &nbsp;&nbsp;114855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 |
|  | CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3659 |
| <sup>\*</sup> | Trimble Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3638 |
| <sup>\*</sup> | F5 Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3581 |
| <sup>\*</sup> | Tyler Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496 |
| <sup>\*</sup> | Akamai Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3244 |
|  | Gen Digital Inc. | &nbsp;&nbsp;128237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2894 |
| <sup>\*</sup> | GoDaddy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;30938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2697 |
| <sup>\*</sup> | Zebra Technologies Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;11588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595 |
| <sup>\*</sup> | Gartner Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2594 |
|  | Jabil Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522 |
|  | Skyworks Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029 |
| <sup>\*</sup> | EPAM Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784 |
|  |  |  | &nbsp;&nbsp;**1074161** |
| **Materials (3.9%)** | **Materials (3.9%)** | **Materials (3.9%)** | **Materials (3.9%)** |
|  | Linde plc | &nbsp;&nbsp;106986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54357 |
|  | Freeport-McMoRan Inc. | &nbsp;&nbsp;329061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22403 |
|  | Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;52840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19159 |
|  | CRH plc | &nbsp;&nbsp;153636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18433 |
|  | Ecolab Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18019 |
|  | Air Products and Chemicals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14063 |
|  | Corteva Inc. | &nbsp;&nbsp;154952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12415 |
|  | Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;30242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9375 |
|  | Martin Marietta Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9343 |
|  | Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9277 |
|  | PPG Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6339 |
|  | Steel Dynamics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6075 |
|  | Smurfit Westrock plc | &nbsp;&nbsp;119652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5625 |
|  | International Paper Co. | &nbsp;&nbsp;120994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5269 |
|  | Amcor plc | &nbsp;&nbsp;105784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5123 |
|  | Dow Inc. | &nbsp;&nbsp;162850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5004 |
|  | International Flavors & Fragrances Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4826 |
|  | Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4819 |
|  | DuPont de Nemours Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4804 |
|  | Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;20535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4767 |
|  | Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4122 |
|  | CF Industries Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3559 |
|  | Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3479 |
|  | LyondellBasell Industries NV Class A | &nbsp;&nbsp;&nbsp;&nbsp;59004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394 |
|  | Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;72728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**256074** |
| **Real Estate (3.4%)** | **Real Estate (3.4%)** | **Real Estate (3.4%)** | **Real Estate (3.4%)** |
|  | Prologis Inc. | &nbsp;&nbsp;212906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30354 |
|  | Equinix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21934 |

---

------

S&P 500 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | American Tower Corp. | &nbsp;&nbsp;107155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20559 |
|  | Realty Income Corp. | &nbsp;&nbsp;210907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14131 |
|  | Digital Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13120 |
|  | Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;36228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11124 |
| <sup>\*</sup> | CBRE Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;67103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9908 |
|  | Simon Property Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8992 |
|  | Crown Castle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;99783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8935 |
|  | Extra Space Storage Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7347 |
|  | Iron Mountain Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7329 |
|  | VICI Properties Inc. Class A | &nbsp;&nbsp;228723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6910 |
|  | AvalonBay Communities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5753 |
|  | Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;79329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5014 |
|  | SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4911 |
|  | Ventas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4450 |
| <sup>\*</sup> | CoStar Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4334 |
|  | Weyerhaeuser Co. | &nbsp;&nbsp;165174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4052 |
|  | Essex Property Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3757 |
|  | Kimco Realty Corp. | &nbsp;&nbsp;155161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3654 |
|  | Mid-America Apartment Communities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3585 |
|  | Invitation Homes Inc. | &nbsp;&nbsp;129218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3404 |
|  | Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2980 |
|  | Host Hotels & Resorts Inc. | &nbsp;&nbsp;146109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2862 |
|  | Healthpeak Properties Inc. | &nbsp;&nbsp;159230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2815 |
|  | Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;24317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2635 |
|  | UDR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2578 |
|  | Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;17990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957 |
|  | BXP Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1944 |
|  | Alexandria Real Estate Equities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**223254** |
| **Utilities (4.6%)** | **Utilities (4.6%)** | **Utilities (4.6%)** | **Utilities (4.6%)** |
|  | NextEra Energy Inc. | &nbsp;&nbsp;477200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44747 |
|  | Southern Co. | &nbsp;&nbsp;252366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24575 |
|  | Duke Energy Corp. | &nbsp;&nbsp;178252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23324 |
|  | American Electric Power Co. Inc. | &nbsp;&nbsp;122721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16423 |
|  | Sempra | &nbsp;&nbsp;149638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14406 |
|  | Dominion Energy Inc. | &nbsp;&nbsp;195792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12362 |
|  | Exelon Corp. | &nbsp;&nbsp;231676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11461 |
|  | Xcel Energy Inc. | &nbsp;&nbsp;135643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11307 |
|  | Entergy Corp. | &nbsp;&nbsp;102417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10970 |
|  | Public Service Enterprise Group Inc. | &nbsp;&nbsp;114300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9838 |
|  | PG&E Corp. | &nbsp;&nbsp;503603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9568 |
|  | Consolidated Edison Inc. | &nbsp;&nbsp;&nbsp;&nbsp;82763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9312 |
|  | WEC Energy Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8717 |
|  | Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7786 |
|  | DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;47578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7053 |
|  | Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7021 |
|  | Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6870 |
|  | PPL Corp. | &nbsp;&nbsp;169528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6608 |
|  | Edison International | &nbsp;&nbsp;&nbsp;&nbsp;88167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6590 |
|  | Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;85964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6551 |
|  | CenterPoint Energy Inc. | &nbsp;&nbsp;149593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6507 |
|  | FirstEnergy Corp. | &nbsp;&nbsp;119124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6094 |
|  | American Water Works Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6082 |
|  | CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5443 |
|  | NiSource Inc. | &nbsp;&nbsp;109332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5171 |
|  | Evergy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4414 |
|  | Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4261 |
|  | AES Corp. | &nbsp;&nbsp;163170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820 |
|  | Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750 |
|  | NRG Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2035 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**301066** |
| **Total Common Stocks (Cost $5,614,865)** | **Total Common Stocks (Cost $5,614,865)** | **Total Common Stocks (Cost $5,614,865)** | **6488547** |

---

------

S&P 500 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Market<br> Value•  ($000)** |
| **Temporary Cash Investments (0.3%)** | **Temporary Cash Investments (0.3%)** | **Temporary Cash Investments (0.3%)** | **Temporary Cash Investments (0.3%)** |
| **Money Market Fund (0.3%)** | **Money Market Fund (0.3%)** | **Money Market Fund (0.3%)** | **Money Market Fund (0.3%)** |
| <sup>1</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $17,723)** | &nbsp;&nbsp;177239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17722** |
| **Total Investments (99.9%) (Cost $5,632,588)** | **Total Investments (99.9%) (Cost $5,632,588)** |  | &nbsp;&nbsp;**6506269** |
| **Other Assets and Liabilities—Net (0.1%)** | **Other Assets and Liabilities—Net (0.1%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9032** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**6515301** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

\* Non-income-producing security. <br> 1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini S&P 500 Index | March 2026 | 25 | 8611 | &nbsp;&nbsp;(35) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;2/1/2027 | CITNA | 3779 | (4.490) | &nbsp;&nbsp;&nbsp;&nbsp;— | (209) |
| Citigroup Inc. | 8/31/2027 | BANA | 2699 | (4.380) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(90) |
| Elevance Health Inc. | 8/31/2026 | BANA | &nbsp;&nbsp;&nbsp;&nbsp;277 | (4.390) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(9) |
| Emerson Electric Co. | 8/31/2026 | BANA | 5344 | (3.640) | 103 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Global Payments Inc. | 8/31/2026 | BANA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | (4.490) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Goldman Sachs Group Inc. | 8/31/2027 | BANA | 1084 | (4.490) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(76) |
| JPMorgan Chase & Co. | 8/31/2027 | BANA | 3718 | (4.433) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(37) |
| NetApp Inc. | 8/31/2026 | BANA | &nbsp;&nbsp;&nbsp;&nbsp;126 | (4.320) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3) |
| PayPal Holdings Inc. | 8/31/2026 | BANA | &nbsp;&nbsp;&nbsp;&nbsp;670 | (4.490) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(16) |
| VICI Properties Inc. Class A | 8/31/2026 | BANA | &nbsp;&nbsp;&nbsp;&nbsp;489 | (4.340) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1) |
|  |  |  |  |  | 103 | (441) |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> BANA—Bank of America, N.A. <br> CITNA—Citibank, N.A.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Value Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $5,614,865) | 6488547 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $17,723) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17722 |
| Total Investments in Securities | 6506269 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 |
| Unrealized Appreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 |
| **Total Assets** | **6515981** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**680** |
| **Net Assets** | **6515301** |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 5703952 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;811349 |
| **Net Assets** | **6515301** |
| **ETF Shares—Net Assets** |  |
| **Applicable to 29,340,000 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **6299226** |
| **Net Asset Value Per Share—ETF Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$214.70** |
| **Institutional Shares—Net Assets** |  |
| **Applicable to 458,865 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;&nbsp;&nbsp;**216075** |
| **Net Asset Value Per Share—Institutional Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$470.89** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Value Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56275 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56479 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| Shareholders' Reports—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |
| Shareholders' Reports—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2103 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**54376** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395421 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(186) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**395808** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147191 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(338) |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**146820** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**597004** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $11. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $152, ($1), and ($1), respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $468,664 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Value Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109388 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;395808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389233 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;146820 | &nbsp;&nbsp;&nbsp;&nbsp;(156822) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;597004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341799 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;(53931) | &nbsp;&nbsp;&nbsp;&nbsp;(107769) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1965) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5733) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(55896) | &nbsp;&nbsp;&nbsp;&nbsp;(113502) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;136025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;(10015) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71394) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;126010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146781 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;667118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375078 |
| **Net Assets** |  |  |
| **Beginning of Period** | **5848183** | &nbsp;&nbsp;&nbsp;**5473105** |
| **End of Period** | **6515301** | &nbsp;&nbsp;&nbsp;**5848183** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Value Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$196.93** | &nbsp;&nbsp;&nbsp;**$189.59** | &nbsp;&nbsp;&nbsp;**$156.61** | &nbsp;&nbsp;&nbsp;**$136.61** | &nbsp;&nbsp;&nbsp;**$146.23** | &nbsp;&nbsp;&nbsp;**$112.29** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.897 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;17.834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9.703) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.786 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;19.644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36.342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36.683 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(1.874) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.016) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.743) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(1.874) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.016) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.743) |
| **Net Asset Value, End of Period** | **$214.70** | &nbsp;&nbsp;&nbsp;**$196.93** | &nbsp;&nbsp;&nbsp;**$189.59** | &nbsp;&nbsp;&nbsp;**$156.61** | &nbsp;&nbsp;&nbsp;**$136.61** | &nbsp;&nbsp;&nbsp;**$146.23** |
| **Total Return** | **10.04%** | &nbsp;&nbsp;&nbsp;**6.01%** | &nbsp;&nbsp;&nbsp;**23.51%** | &nbsp;&nbsp;&nbsp;**17.15%** | &nbsp;&nbsp;&nbsp;**-4.63%** | &nbsp;&nbsp;&nbsp;**33.10%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $6299 | &nbsp;&nbsp;&nbsp;$5640 | &nbsp;&nbsp;&nbsp;$5195 | &nbsp;&nbsp;&nbsp;$3559 | &nbsp;&nbsp;&nbsp;$2801 | &nbsp;&nbsp;&nbsp;$2351 |
| Ratio of Total Expenses to Average Net Assets | 0.07% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.10%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.10% |
| Ratio of Net Investment Income to Average Net Assets | 1.78% | &nbsp;&nbsp;&nbsp;1.95% | &nbsp;&nbsp;&nbsp;2.13% | &nbsp;&nbsp;&nbsp;2.05% | &nbsp;&nbsp;&nbsp;2.10% | &nbsp;&nbsp;&nbsp;2.19% |
| Portfolio Turnover Rate<sup>3</sup> | 23% | &nbsp;&nbsp;&nbsp;32% | &nbsp;&nbsp;&nbsp;30% | &nbsp;&nbsp;&nbsp;27% | &nbsp;&nbsp;&nbsp;16% | &nbsp;&nbsp;&nbsp;18% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.10%. |
| 3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Value Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$431.90** | &nbsp;&nbsp;&nbsp;**$415.81** | &nbsp;&nbsp;&nbsp;**$343.49** | &nbsp;&nbsp;&nbsp;**$299.63** | &nbsp;&nbsp;&nbsp;**$320.71** | &nbsp;&nbsp;&nbsp;**$246.27** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.402 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;39.113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71.826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43.912 | &nbsp;&nbsp;&nbsp;&nbsp;(21.295) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74.102 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;43.141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79.775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50.536 | &nbsp;&nbsp;&nbsp;&nbsp;(14.564) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80.504 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(4.151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8.459) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.455) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.676) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.516) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.064) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(4.151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8.459) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.455) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.676) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.516) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.064) |
| **Net Asset Value, End of Period** | **$470.89** | &nbsp;&nbsp;&nbsp;**$431.90** | &nbsp;&nbsp;&nbsp;**$415.81** | &nbsp;&nbsp;&nbsp;**$343.49** | &nbsp;&nbsp;&nbsp;**$299.63** | &nbsp;&nbsp;&nbsp;**$320.71** |
| **Total Return** | **10.05%** | &nbsp;&nbsp;&nbsp;**6.03%** | &nbsp;&nbsp;&nbsp;**23.53%** | &nbsp;&nbsp;&nbsp;**17.19%** | &nbsp;&nbsp;&nbsp;**-4.60%** | &nbsp;&nbsp;&nbsp;**33.14%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $216 | &nbsp;&nbsp;&nbsp;$208 | &nbsp;&nbsp;&nbsp;$278 | &nbsp;&nbsp;&nbsp;$179 | &nbsp;&nbsp;&nbsp;$168 | &nbsp;&nbsp;&nbsp;$175 |
| Ratio of Total Expenses to Average Net Assets | 0.05% | &nbsp;&nbsp;&nbsp;0.06% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% |
| Ratio of Net Investment Income to Average Net Assets | 1.80% | &nbsp;&nbsp;&nbsp;1.97% | &nbsp;&nbsp;&nbsp;2.13% | &nbsp;&nbsp;&nbsp;2.08% | &nbsp;&nbsp;&nbsp;2.12% | &nbsp;&nbsp;&nbsp;2.22% |
| Portfolio Turnover Rate<sup>3</sup> | 23% | &nbsp;&nbsp;&nbsp;32% | &nbsp;&nbsp;&nbsp;30% | &nbsp;&nbsp;&nbsp;27% | &nbsp;&nbsp;&nbsp;16% | &nbsp;&nbsp;&nbsp;18% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
| 3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Value Index Fund

Notes to Financial Statements

Vanguard S&P 500 Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund.

The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

S&P 500 Value Index Fund

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $146,000, representing less than 0.01% of the fund's net assets and 0.06% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P 500 Value Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 6488547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6488547 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17722 |
| Total | 6506269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6506269 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(441) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(441) |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) | &nbsp;&nbsp;&nbsp;(441) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(476) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;5636186 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;1174695 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(304985) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869710 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $470,067,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $1,426,832,000 of investment securities and sold $1,430,198,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $1,663,587,000 and $1,550,303,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $1,039,255,000 and sales were $492,767,000, resulting in net realized gain of $6,063,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital share transactions for each class of shares were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;1671989 | &nbsp;&nbsp;&nbsp;&nbsp;8160 | &nbsp;&nbsp;&nbsp;&nbsp;1566929 | &nbsp;&nbsp;&nbsp;&nbsp;8480 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (1535964) | &nbsp;&nbsp;&nbsp;(7460) | &nbsp;&nbsp;&nbsp;(1348754) | &nbsp;&nbsp;&nbsp;(7240) |
| Net Increase (Decrease)—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;136025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218175 | &nbsp;&nbsp;&nbsp;&nbsp;1240 |
| **Institutional Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| Redeemed | &nbsp;&nbsp;&nbsp;(103944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(145484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(369) |
| Net Increase (Decrease)—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;(10015) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188) |

---

------

S&P 500 Value Index Fund

H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18402 042026

------

![](tm268191d2sp500groindfuni001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P 500 Growth Index Fund

------

Contents

Financial Statements 1 <br>

------

S&P 500 Growth Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.8%)** | **Common Stocks (99.8%)** | **Common Stocks (99.8%)** | **Common Stocks (99.8%)** |
| **Communication Services (17.0%)** | **Communication Services (17.0%)** | **Communication Services (17.0%)** | **Communication Services (17.0%)** |
|  | Alphabet Inc. Class A | &nbsp;&nbsp;4189982 | &nbsp;&nbsp;1306269 |
|  | Alphabet Inc. Class C | &nbsp;&nbsp;3348871 | &nbsp;&nbsp;1042939 |
|  | Meta Platforms Inc. Class A | &nbsp;&nbsp;1568474 | &nbsp;&nbsp;1016653 |
| <sup>\*</sup> | Netflix Inc. | &nbsp;&nbsp;3051656 | &nbsp;&nbsp;&nbsp;&nbsp;293691 |
|  | Electronic Arts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15244 |
| <sup>\*</sup> | Take-Two Interactive Software Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13766 |
|  | TKO Group Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10682 |
| <sup>\*</sup> | Live Nation Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9759 |
|  | Fox Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5590 |
|  | Fox Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3633 |
|  |  |  | &nbsp;&nbsp;**3718226** |
| **Consumer Discretionary (9.3%)** | **Consumer Discretionary (9.3%)** | **Consumer Discretionary (9.3%)** | **Consumer Discretionary (9.3%)** |
| <sup>\*</sup> | Amazon.com Inc. | &nbsp;&nbsp;3713140 | &nbsp;&nbsp;&nbsp;&nbsp;779759 |
| <sup>\*</sup> | Tesla Inc. | &nbsp;&nbsp;1254669 | &nbsp;&nbsp;&nbsp;&nbsp;505017 |
|  | Booking Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98366 |
|  | McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;225663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76965 |
|  | TJX Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;440783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71257 |
| <sup>\*</sup> | O'Reilly Automotive Inc. | &nbsp;&nbsp;&nbsp;&nbsp;607853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57065 |
|  | Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;182626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56789 |
|  | Marriott International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;160417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54819 |
|  | Hilton Worldwide Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;167370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52183 |
| <sup>\*</sup> | DoorDash Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;269191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47504 |
| <sup>\*</sup> | AutoZone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29234 |
|  | Carnival Corp. | &nbsp;&nbsp;&nbsp;&nbsp;782273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24681 |
|  | Ross Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23122 |
|  | Tapestry Inc. | &nbsp;&nbsp;&nbsp;&nbsp;147442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22923 |
| <sup>\*</sup> | Ulta Beauty Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22133 |
|  | eBay Inc. | &nbsp;&nbsp;&nbsp;&nbsp;240971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21895 |
| <sup>\*</sup> | Airbnb Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;144017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19458 |
|  | Expedia Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18177 |
| <sup>\*</sup> | Carvana Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17367 |
|  | Yum! Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16488 |
|  | Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;219213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12434 |
|  | Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10113 |
|  | Wynn Resorts Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6561 |
| <sup>\*</sup> | Norwegian Cruise Line Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;183561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4551 |
|  |  |  | &nbsp;&nbsp;**2048861** |
| **Consumer Staples (1.2%)** | **Consumer Staples (1.2%)** | **Consumer Staples (1.2%)** | **Consumer Staples (1.2%)** |
|  | Philip Morris International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;627840 | &nbsp;&nbsp;&nbsp;&nbsp;117299 |
|  | Coca-Cola Co. | &nbsp;&nbsp;1171022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95508 |
| <sup>\*</sup> | Monster Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;513548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43806 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**256613** |
| **Financials (9.6%)** | **Financials (9.6%)** | **Financials (9.6%)** | **Financials (9.6%)** |
| <sup>\*</sup> | Berkshire Hathaway Inc. Class B | &nbsp;&nbsp;1320630 | &nbsp;&nbsp;&nbsp;&nbsp;666852 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;1251062 | &nbsp;&nbsp;&nbsp;&nbsp;375694 |
|  | Visa Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;668488 | &nbsp;&nbsp;&nbsp;&nbsp;214010 |
|  | Mastercard Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;395643 | &nbsp;&nbsp;&nbsp;&nbsp;204630 |
|  | Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;133527 | &nbsp;&nbsp;&nbsp;&nbsp;114776 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;530618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88353 |
|  | American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;263138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81283 |
|  | Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;236457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50521 |
|  | CME Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;145367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46445 |
|  | S&P Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43409 |
| <sup>\*</sup> | Robinhood Markets Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;566296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42954 |
|  | Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;316331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37675 |
|  | Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25342 |
|  | KKR & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;266975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23408 |
|  | Interactive Brokers Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;320874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22843 |

---

------

S&P 500 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Apollo Global Management Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18545 |
|  | MSCI Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16094 |
|  | Cboe Global Markets Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11498 |
|  | Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10861 |
|  | W R Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8836 |
|  |  |  | &nbsp;&nbsp;**2104029** |
| **Health Care (7.2%)** | **Health Care (7.2%)** | **Health Care (7.2%)** | **Health Care (7.2%)** |
|  | Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571927 | &nbsp;&nbsp;&nbsp;&nbsp;601661 |
|  | Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;1023771 | &nbsp;&nbsp;&nbsp;&nbsp;254335 |
|  | AbbVie Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585521 | &nbsp;&nbsp;&nbsp;&nbsp;135888 |
| <sup>\*</sup> | Intuitive Surgical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255329 | &nbsp;&nbsp;&nbsp;&nbsp;128561 |
|  | Amgen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263713 | &nbsp;&nbsp;&nbsp;&nbsp;102363 |
|  | Gilead Sciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71860 |
|  | HCA Healthcare Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60916 |
| <sup>\*</sup> | Boston Scientific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54971 |
|  | Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40330 |
| <sup>\*</sup> | IDEXX Laboratories Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37775 |
| <sup>\*</sup> | Edwards Lifesciences Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16633 |
|  | ResMed Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14829 |
| <sup>\*</sup> | Insulet Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500 |
| <sup>\*</sup> | Incyte Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12024 |
| <sup>\*</sup> | Dexcom Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10507 |
| <sup>\*</sup> | Mettler-Toledo International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9466 |
|  | STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8901 |
|  |  |  | &nbsp;&nbsp;**1573520** |
| **Industrials (6.7%)** | **Industrials (6.7%)** | **Industrials (6.7%)** | **Industrials (6.7%)** |
|  | Caterpillar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337026 | &nbsp;&nbsp;&nbsp;&nbsp;250353 |
|  | RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965620 | &nbsp;&nbsp;&nbsp;&nbsp;195654 |
|  | GE Vernova Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195390 | &nbsp;&nbsp;&nbsp;&nbsp;170693 |
|  | GE Aerospace | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395037 | &nbsp;&nbsp;&nbsp;&nbsp;135205 |
| <sup>\*</sup> | Uber Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1496414 | &nbsp;&nbsp;&nbsp;&nbsp;112859 |
|  | Howmet Aerospace Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76006 |
|  | Quanta Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60440 |
| <sup>\*</sup> | Boeing Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56452 |
|  | TransDigm Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52833 |
|  | Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51343 |
|  | Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41932 |
|  | Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39127 |
|  | Cummins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38889 |
|  | Comfort Systems USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36237 |
|  | General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34559 |
|  | EMCOR Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23383 |
|  | United Rentals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21556 |
| <sup>\*</sup> | Axon Enterprise Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20358 |
|  | Rockwell Automation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18139 |
|  | Rollins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12872 |
|  | Verisk Analytics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11040 |
|  | Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5397 |
|  |  |  | &nbsp;&nbsp;**1465327** |
| **Information Technology (47.2%)** | **Information Technology (47.2%)** | **Information Technology (47.2%)** | **Information Technology (47.2%)** |
|  | NVIDIA Corp. | &nbsp;&nbsp;17500357 | &nbsp;&nbsp;3100888 |
|  | Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5352637 | &nbsp;&nbsp;2102195 |
|  | Apple Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5320817 | &nbsp;&nbsp;1405653 |
|  | Broadcom Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3400950 | &nbsp;&nbsp;1086774 |
|  | Micron Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808381 | &nbsp;&nbsp;&nbsp;&nbsp;333352 |
| <sup>\*</sup> | Advanced Micro Devices Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1172497 | &nbsp;&nbsp;&nbsp;&nbsp;234746 |
| <sup>\*</sup> | Palantir Technologies Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;1645114 | &nbsp;&nbsp;&nbsp;&nbsp;225693 |
|  | Applied Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573701 | &nbsp;&nbsp;&nbsp;&nbsp;213589 |
|  | Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904573 | &nbsp;&nbsp;&nbsp;&nbsp;211571 |
|  | KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94602 | &nbsp;&nbsp;&nbsp;&nbsp;144226 |
|  | Amphenol Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881543 | &nbsp;&nbsp;&nbsp;&nbsp;128758 |
|  | Cisco Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1504145 | &nbsp;&nbsp;&nbsp;&nbsp;119519 |
| <sup>\*</sup> | Arista Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99277 |
|  | Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91586 |
| <sup>\*</sup> | AppLovin Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84757 |
|  | International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84084 |
| <sup>\*</sup> | Sandisk Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67534 |
| <sup>\*</sup> | Crowdstrike Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67219 |

---

------

S&P 500 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Corning Inc. | &nbsp;&nbsp;387591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58286 |
| <sup>\*</sup> | ServiceNow Inc. | &nbsp;&nbsp;455740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49224 |
| <sup>\*</sup> | Palo Alto Networks Inc. | &nbsp;&nbsp;320608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47745 |
|  | Intuit Inc. | &nbsp;&nbsp;112415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45981 |
|  | Seagate Technology Holdings plc | &nbsp;&nbsp;100479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40979 |
|  | Monolithic Power Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39445 |
| <sup>\*</sup> | Cadence Design Systems Inc. | &nbsp;&nbsp;123487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37219 |
| <sup>\*</sup> | Ciena Corp. | &nbsp;&nbsp;101585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35423 |
|  | TE Connectivity plc | &nbsp;&nbsp;146273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33665 |
| <sup>\*</sup> | Datadog Inc. Class A | &nbsp;&nbsp;234455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26250 |
| <sup>\*</sup> | Fortinet Inc. | &nbsp;&nbsp;286874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22672 |
| <sup>\*</sup> | Autodesk Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21880 |
|  | Teradyne Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20934 |
| <sup>\*</sup> | First Solar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15246 |
|  | VeriSign Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13706 |
|  | Jabil Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12431 |
| <sup>\*</sup> | Fair Isaac Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11765 |
| <sup>\*</sup> | Workday Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;68775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9199 |
|  |  |  | &nbsp;&nbsp;**10343471** |
| **Materials (0.5%)** | **Materials (0.5%)** | **Materials (0.5%)** | **Materials (0.5%)** |
|  | Newmont Corp. | &nbsp;&nbsp;785899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102167 |
| **Real Estate (0.6%)** | **Real Estate (0.6%)** | **Real Estate (0.6%)** | **Real Estate (0.6%)** |
|  | Welltower Inc. | &nbsp;&nbsp;494297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102379 |
|  | Simon Property Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;96433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19658 |
|  | Ventas Inc. | &nbsp;&nbsp;175967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15161 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**137198** |
| **Utilities (0.5%)** | **Utilities (0.5%)** | **Utilities (0.5%)** | **Utilities (0.5%)** |
|  | Constellation Energy Corp. | &nbsp;&nbsp;150647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49695 |
|  | Vistra Corp. | &nbsp;&nbsp;229328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39878 |
|  | NRG Energy Inc. | &nbsp;&nbsp;102141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18279 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**107852** |
| **Total Common Stocks (Cost $15,050,224)** | **Total Common Stocks (Cost $15,050,224)** | **Total Common Stocks (Cost $15,050,224)** | **21857264** |
| **Rights (0.0%)** | **Rights (0.0%)** | **Rights (0.0%)** | **Rights (0.0%)** |
| <sup>\*,1</sup> | ABIOMED Inc. CVR **(Cost $—)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Temporary Cash Investments (0.1%)** | **Temporary Cash Investments (0.1%)** | **Temporary Cash Investments (0.1%)** | **Temporary Cash Investments (0.1%)** |
| **Money Market Fund (0.1%)** | **Money Market Fund (0.1%)** | **Money Market Fund (0.1%)** | **Money Market Fund (0.1%)** |
| <sup>2</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $28,959)** | &nbsp;&nbsp;289605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28957** |
| **Total Investments (99.9%) (Cost $15,079,183)** | **Total Investments (99.9%) (Cost $15,079,183)** |  | &nbsp;&nbsp;**21886221** |
| **Other Assets and Liabilities—Net (0.1%)** | **Other Assets and Liabilities—Net (0.1%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11526** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**21897747** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

\* Non-income-producing security. <br> 1 Security value determined using significant unobservable inputs. <br> 2 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

CVR—Contingent Value Rights.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini NASDAQ 100 Index | March 2026 | 18 | 9002 | &nbsp;&nbsp;&nbsp;&nbsp;(99) |
| E-mini S&P 500 Index | March 2026 | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
|  |  |  |  | &nbsp;&nbsp;(101) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

S&P 500 Growth Index Fund

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| Goldman Sachs Group Inc. | 8/31/2027 | BANA | &nbsp;&nbsp;&nbsp;6328 | (4.490) |  | (443) |
| JPMorgan Chase & Co. | 8/31/2027 | BANA | 24897 | (4.433) |  | (249) |
|  |  |  |  |  |  | (692) |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> BANA—Bank of America, N.A.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Growth Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $15,050,224) | 21857264 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $28,959) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28957 |
| Total Investments in Securities | 21886221 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11663 |
| **Total Assets** | **21899114** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1367** |
| **Net Assets** | **21897747** |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 15846595 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;6051152 |
| **Net Assets** | **21897747** |
| **ETF Shares—Net Assets<sup>1</sup>** |  |
| **Applicable to 303,785,829 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **21844647** |
| **Net Asset Value Per Share—ETF Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$71.91** |
| **Institutional Shares—Net Assets** |  |
| **Applicable to 54,101 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53100** |
| **Net Asset Value Per Share—Institutional Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$981.49** |

---

1 Shares outstanding and Net Asset Value Per Share adjusted to reflect a 6-for-1 share split. See Notes to Financial Statements for further details.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Growth Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63215 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63729 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Shareholders' Reports—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259 |
| Shareholders' Reports—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7452 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**56277** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436600 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1846) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**436617** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368657 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(692) |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**367876** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**860770** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $21. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $479, $1, and ($3), respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $482,733 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Growth Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91654 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436617 | &nbsp;&nbsp;&nbsp;&nbsp;1547465 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367876 | &nbsp;&nbsp;&nbsp;&nbsp;1781358 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860770 | &nbsp;&nbsp;&nbsp;&nbsp;3420477 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86932) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54935) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86990) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;1687033 | &nbsp;&nbsp;&nbsp;&nbsp;3478879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18070 |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;1709990 | &nbsp;&nbsp;&nbsp;&nbsp;3496949 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;2515825 | &nbsp;&nbsp;&nbsp;&nbsp;6830436 |
| **Net Assets** |  |  |
| **Beginning of Period** | **19381922** | &nbsp;&nbsp;&nbsp;**12551486** |
| **End of Period** | **21897747** | &nbsp;&nbsp;&nbsp;**19381922** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Growth Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period<sup>1</sup> | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period<sup>1</sup> | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$69.02** | &nbsp;&nbsp;&nbsp;**$56.06** | &nbsp;&nbsp;&nbsp;**$43.37** | &nbsp;&nbsp;&nbsp;**$38.71** | &nbsp;&nbsp;&nbsp;**$47.26** | &nbsp;&nbsp;&nbsp;**$36.55** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.292 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;2.887 | &nbsp;&nbsp;&nbsp;&nbsp;12.949 | &nbsp;&nbsp;&nbsp;&nbsp;12.729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.626 | &nbsp;&nbsp;&nbsp;&nbsp;(8.573) | &nbsp;&nbsp;&nbsp;&nbsp;10.707 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;3.079 | &nbsp;&nbsp;&nbsp;&nbsp;13.309 | &nbsp;&nbsp;&nbsp;&nbsp;13.090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.072 | &nbsp;&nbsp;&nbsp;&nbsp;(8.252) | &nbsp;&nbsp;&nbsp;&nbsp;10.999 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(.189) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.349) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.298) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.289) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(.189) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.349) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.298) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.289) |
| **Net Asset Value, End of Period** | **$71.91** | &nbsp;&nbsp;&nbsp;**$69.02** | &nbsp;&nbsp;&nbsp;**$56.06** | &nbsp;&nbsp;&nbsp;**$43.37** | &nbsp;&nbsp;&nbsp;**$38.71** | &nbsp;&nbsp;&nbsp;**$47.26** |
| **Total Return** | **4.45%** | &nbsp;&nbsp;&nbsp;**23.84%** | &nbsp;&nbsp;&nbsp;**30.39%** | &nbsp;&nbsp;&nbsp;**13.26%** | &nbsp;&nbsp;&nbsp;**-17.52%** | &nbsp;&nbsp;&nbsp;**30.26%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $21845 | &nbsp;&nbsp;&nbsp;$19353 | &nbsp;&nbsp;&nbsp;$12542 | &nbsp;&nbsp;&nbsp;$8170 | &nbsp;&nbsp;&nbsp;$6839 | &nbsp;&nbsp;&nbsp;$6776 |
| Ratio of Total Expenses to Average Net Assets | 0.07% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.10%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.10%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.10% |
| Ratio of Net Investment Income to Average Net Assets | 0.48% | &nbsp;&nbsp;&nbsp;0.59% | &nbsp;&nbsp;&nbsp;0.74% | &nbsp;&nbsp;&nbsp;1.16% | &nbsp;&nbsp;&nbsp;0.73% | &nbsp;&nbsp;&nbsp;0.73% |
| Portfolio Turnover Rate<sup>4</sup> | 19% | &nbsp;&nbsp;&nbsp;20% | &nbsp;&nbsp;&nbsp;27% | &nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;13% | &nbsp;&nbsp;&nbsp;12% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Adjusted to reflect a 6-for-1 share split. See Notes to Financial Statements for further details. |
| 2 | Calculated based on average shares outstanding. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.10%. |
| 4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Growth Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$942.09** | &nbsp;&nbsp;&nbsp;**$765.10** | &nbsp;&nbsp;&nbsp;**$591.92** | &nbsp;&nbsp;&nbsp;**$528.34** | &nbsp;&nbsp;&nbsp;**$644.91** | &nbsp;&nbsp;&nbsp;**$498.89** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.959 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;39.423 | &nbsp;&nbsp;&nbsp;&nbsp;176.798 | &nbsp;&nbsp;&nbsp;&nbsp;173.644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63.118 | &nbsp;&nbsp;&nbsp;&nbsp;(116.631) | &nbsp;&nbsp;&nbsp;&nbsp;146.133 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;42.082 | &nbsp;&nbsp;&nbsp;&nbsp;181.902 | &nbsp;&nbsp;&nbsp;&nbsp;178.748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69.303 | &nbsp;&nbsp;&nbsp;&nbsp;(112.428) | &nbsp;&nbsp;&nbsp;&nbsp;150.092 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(2.682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.912) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.723) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.072) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(2.682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.912) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.723) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.072) |
| **Net Asset Value, End of Period** | **$981.49** | &nbsp;&nbsp;&nbsp;**$942.09** | &nbsp;&nbsp;&nbsp;**$765.10** | &nbsp;&nbsp;&nbsp;**$591.92** | &nbsp;&nbsp;&nbsp;**$528.34** | &nbsp;&nbsp;&nbsp;**$644.91** |
| **Total Return** | **4.46%** | &nbsp;&nbsp;&nbsp;**23.86%** | &nbsp;&nbsp;&nbsp;**30.41%** | &nbsp;&nbsp;&nbsp;**13.29%** | &nbsp;&nbsp;&nbsp;**-17.50%** | &nbsp;&nbsp;&nbsp;**30.29%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $53 | &nbsp;&nbsp;&nbsp;$29 | &nbsp;&nbsp;&nbsp;$9 | &nbsp;&nbsp;&nbsp;$7 | &nbsp;&nbsp;&nbsp;$6 | &nbsp;&nbsp;&nbsp;$28 |
| Ratio of Total Expenses to Average Net Assets | 0.05% | &nbsp;&nbsp;&nbsp;0.06% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.08% |
| Ratio of Net Investment Income to Average Net Assets | 0.49% | &nbsp;&nbsp;&nbsp;0.61% | &nbsp;&nbsp;&nbsp;0.77% | &nbsp;&nbsp;&nbsp;1.18% | &nbsp;&nbsp;&nbsp;0.68% | &nbsp;&nbsp;&nbsp;0.71% |
| Portfolio Turnover Rate<sup>3</sup> | 19% | &nbsp;&nbsp;&nbsp;20% | &nbsp;&nbsp;&nbsp;27% | &nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;13% | &nbsp;&nbsp;&nbsp;12% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%. |
| 3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P 500 Growth Index Fund

Notes to Financial Statements

Vanguard S&P 500 Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund.

The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker. In February 2026, the board of trustees approved a 6-for-1 share split of the fund's ETF share class, which occurred after the close of trading on April 20, 2026. Each ETF shareholder who owns shares as of the close of trading on that date received five additional shares for every share held. Effective April 21, 2026, the ETF shares began trading at the new split-adjusted price. The share split had no effect on fund net assets, but decreased the net asset value per share. Additionally, the share split had no effect on total return.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and

------

S&P 500 Growth Index Fund

has concluded that no provision for income tax is required in the fund's financial statements. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $520,000, representing less than 0.01% of the fund's net assets and 0.21% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P 500 Growth Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 21857264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;21857264 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28957 |
| Total | 21886221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;21886221 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(692) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(692) |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101) | &nbsp;&nbsp;&nbsp;(692) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(793) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;15080628 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;7361182 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(556382) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;6804800 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $1,208,335,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $4,137,152,000 of investment securities and sold $4,130,230,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $2,970,276,000 and $1,279,447,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $506,950,000 and sales were $1,106,775,000, resulting in net realized gain of $55,088,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital share transactions for each class of shares were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares<sup>1</sup>** |  |  |  |  |
| Issued | &nbsp;&nbsp;2981187 | &nbsp;&nbsp;&nbsp;&nbsp;40920 | &nbsp;&nbsp;&nbsp;&nbsp;6532704 | &nbsp;&nbsp;&nbsp;106560 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (1294154) | &nbsp;&nbsp;&nbsp;(17520) | &nbsp;&nbsp;&nbsp;(3053825) | &nbsp;&nbsp;&nbsp;(49920) |
| Net Increase (Decrease)—ETF Shares | &nbsp;&nbsp;1687033 | &nbsp;&nbsp;&nbsp;&nbsp;23400 | &nbsp;&nbsp;&nbsp;&nbsp;3478879 | &nbsp;&nbsp;&nbsp;&nbsp;56640 |
| **Institutional Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(635) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Net Increase (Decrease)—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |

---

1 Shares adjusted to reflect a 6-for-1 share split.

------

S&P 500 Growth Index Fund

H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no other subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18412 042026

------

![](tm268191d2midcap400groini001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P Mid-Cap 400 Growth Index Fund

------

Contents

Financial Statements 1 <br>

------

S&P Mid-Cap 400 Growth Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.9%)** | **Common Stocks (99.9%)** | **Common Stocks (99.9%)** | **Common Stocks (99.9%)** |
| **Communication Services (2.4%)** | **Communication Services (2.4%)** | **Communication Services (2.4%)** | **Communication Services (2.4%)** |
| <sup>\*,1</sup> | EchoStar Corp. Class A | &nbsp;&nbsp;122791 | &nbsp;&nbsp;&nbsp;&nbsp;14186 |
|  | New York Times Co. Class A | &nbsp;&nbsp;147393 | &nbsp;&nbsp;&nbsp;&nbsp;11760 |
| <sup>\*</sup> | Pinterest Inc. Class A | &nbsp;&nbsp;369612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6331 |
|  | Nexstar Media Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;14316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594 |
|  | Warner Music Group Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;70477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016 |
| <sup>\*</sup> | ZoomInfo Technologies Inc. Class A | &nbsp;&nbsp;145037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**38788** |
| **Consumer Discretionary (9.6%)** | **Consumer Discretionary (9.6%)** | **Consumer Discretionary (9.6%)** | **Consumer Discretionary (9.6%)** |
|  | Somnigroup International Inc. | &nbsp;&nbsp;191469 | &nbsp;&nbsp;&nbsp;&nbsp;17138 |
| <sup>\*</sup> | TopBuild Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25462 | &nbsp;&nbsp;&nbsp;&nbsp;11415 |
| <sup>\*</sup> | Five Below Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50308 | &nbsp;&nbsp;&nbsp;&nbsp;11245 |
|  | Texas Roadhouse Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;60342 | &nbsp;&nbsp;&nbsp;&nbsp;11035 |
| <sup>\*</sup> | Burlington Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34652 | &nbsp;&nbsp;&nbsp;&nbsp;10634 |
|  | Wingstop Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6578 |
| <sup>\*</sup> | Planet Fitness Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;75709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6219 |
| <sup>\*</sup> | Ollie's Bargain Outlet Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5991 |
|  | Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;67782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5706 |
|  | Churchill Downs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5555 |
|  | Dick's Sporting Goods Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4913 |
|  | Autoliv Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4686 |
|  | Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391 |
| <sup>\*</sup> | Valvoline Inc. | &nbsp;&nbsp;115988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4384 |
|  | Travel + Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;58697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4326 |
|  | Hyatt Hotels Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;26325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4251 |
| <sup>\*</sup> | Grand Canyon Education Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4010 |
| <sup>\*</sup> | Chewy Inc. Class A | &nbsp;&nbsp;137614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3773 |
| <sup>\*</sup> | Dutch Bros Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;64927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3481 |
| <sup>\*</sup> | Cava Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3149 |
|  | Wyndham Hotels & Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2986 |
| <sup>\*</sup> | Duolingo Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;25162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541 |
| <sup>\*</sup> | Hilton Grand Vacations Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454 |
|  | Vail Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2181 |
| <sup>\*</sup> | Mattel Inc. | &nbsp;&nbsp;113321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921 |
|  | Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868 |
|  | H&R Block Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835 |
| <sup>\*</sup> | YETI Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829 |
| <sup>\*</sup> | Abercrombie & Fitch Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;17597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721 |
|  | Graham Holdings Co. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572 |
|  | Choice Hotels International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171 |
| <sup>\*</sup> | Capri Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;52131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069 |
| <sup>\*</sup> | Crocs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 |
|  |  |  | &nbsp;&nbsp;**156924** |
| **Consumer Staples (3.0%)** | **Consumer Staples (3.0%)** | **Consumer Staples (3.0%)** | **Consumer Staples (3.0%)** |
|  | Casey's General Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33915 | &nbsp;&nbsp;&nbsp;&nbsp;23252 |
|  | Coca-Cola Consolidated Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51609 | &nbsp;&nbsp;&nbsp;&nbsp;10445 |
| <sup>\*</sup> | Celsius Holdings Inc. | &nbsp;&nbsp;145793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7816 |
| <sup>\*</sup> | elf Beauty Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3358 |
| <sup>\*</sup> | Sprouts Farmers Market Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623 |
|  | Marzetti Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523 |
| <sup>\*</sup> | BellRing Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**49883** |
| **Energy (3.0%)** | **Energy (3.0%)** | **Energy (3.0%)** | **Energy (3.0%)** |
|  | TechnipFMC plc | &nbsp;&nbsp;369004 | &nbsp;&nbsp;&nbsp;&nbsp;24469 |
|  | DT Midstream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9272 |
|  | Antero Midstream Corp. | &nbsp;&nbsp;304156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6837 |
| <sup>\*</sup> | Valaris Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;59065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5661 |
|  | Weatherford International plc | &nbsp;&nbsp;&nbsp;&nbsp;27466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2897 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**49136** |

---

------

S&P Mid-Cap 400 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Market<br> Value•  ($000)** |
| **Financials (6.9%)** | **Financials (6.9%)** | **Financials (6.9%)** | **Financials (6.9%)** |
|  | Affiliated Managers Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7854 |
|  | Kinsale Capital Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7853 |
|  | East West Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7005 |
|  | FirstCash Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6831 |
|  | Evercore Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6757 |
|  | RenaissanceRe Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6618 |
|  | Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;76620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5674 |
|  | Equitable Holdings Inc. | &nbsp;&nbsp;125469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5046 |
|  | Carlyle Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4801 |
|  | Old Republic International Corp. | &nbsp;&nbsp;108015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631 |
|  | Houlihan Lokey Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;26359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4317 |
|  | Primerica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4286 |
|  | SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;50100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4074 |
|  | Cullen/Frost Bankers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4033 |
|  | Federated Hermes Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;67456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3778 |
|  | American Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3361 |
|  | MGIC Investment Corp. | &nbsp;&nbsp;104012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759 |
| <sup>\*</sup> | WEX Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2755 |
|  | Ryan Specialty Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;68177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683 |
|  | Hanover Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2518 |
|  | Essent Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251 |
|  | Hamilton Lane Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;20119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2111 |
|  | Morningstar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952 |
| <sup>\*</sup> | Texas Capital Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943 |
|  | SLM Corp. | &nbsp;&nbsp;101965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911 |
| <sup>\*,1</sup> | Shift4 Payments Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;40026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764 |
|  | International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554 |
|  | First Financial Bankshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543 |
|  |  |  | &nbsp;&nbsp;**112663** |
| **Health Care (13.5%)** | **Health Care (13.5%)** | **Health Care (13.5%)** | **Health Care (13.5%)** |
| <sup>\*</sup> | United Therapeutics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39277 | &nbsp;&nbsp;&nbsp;&nbsp;19792 |
| <sup>\*</sup> | Tenet Healthcare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80164 | &nbsp;&nbsp;&nbsp;&nbsp;19190 |
| <sup>\*</sup> | Penumbra Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35720 | &nbsp;&nbsp;&nbsp;&nbsp;12302 |
| <sup>\*</sup> | Neurocrine Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90951 | &nbsp;&nbsp;&nbsp;&nbsp;12028 |
| <sup>\*</sup> | Elanco Animal Health Inc. | &nbsp;&nbsp;453231 | &nbsp;&nbsp;&nbsp;&nbsp;11965 |
|  | Ensign Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52464 | &nbsp;&nbsp;&nbsp;&nbsp;11236 |
| <sup>\*</sup> | Exelixis Inc. | &nbsp;&nbsp;244559 | &nbsp;&nbsp;&nbsp;&nbsp;10775 |
| <sup>\*</sup> | Jazz Pharmaceuticals plc | &nbsp;&nbsp;&nbsp;&nbsp;55424 | &nbsp;&nbsp;&nbsp;&nbsp;10532 |
| <sup>\*</sup> | Illumina Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75264 | &nbsp;&nbsp;&nbsp;&nbsp;10120 |
|  | Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;91791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9902 |
| <sup>\*</sup> | Globus Medical Inc. Class A | &nbsp;&nbsp;101630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9702 |
| <sup>\*</sup> | Medpace Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9168 |
| <sup>\*</sup> | Arrowhead Pharmaceuticals Inc. | &nbsp;&nbsp;126116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7979 |
| <sup>\*</sup> | Halozyme Therapeutics Inc. | &nbsp;&nbsp;107271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7459 |
| <sup>\*</sup> | Roivant Sciences Ltd. | &nbsp;&nbsp;231843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6710 |
| <sup>\*</sup> | BioMarin Pharmaceutical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;99890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166 |
| <sup>\*</sup> | HealthEquity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6012 |
| <sup>\*</sup> | Option Care Health Inc. | &nbsp;&nbsp;144831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4701 |
| <sup>\*</sup> | Masimo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4167 |
| <sup>\*</sup> | Cytokinetics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750 |
| <sup>\*</sup> | LivaNova plc | &nbsp;&nbsp;&nbsp;&nbsp;49840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3519 |
| <sup>\*</sup> | Repligen Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3419 |
| <sup>\*</sup> | Lantheus Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3124 |
| <sup>\*</sup> | Sotera Health Co. | &nbsp;&nbsp;189325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3076 |
| <sup>\*</sup> | Doximity Inc. Class A | &nbsp;&nbsp;125388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3076 |
| <sup>\*,1</sup> | Hims & Hers Health Inc. | &nbsp;&nbsp;190089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760 |
|  | Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595 |
| <sup>\*</sup> | Bio-Rad Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2542 |
|  | Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;53585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149 |
| <sup>\*</sup> | Haemonetics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621 |
|  |  |  | &nbsp;&nbsp;**221537** |
| **Industrials (30.5%)** | **Industrials (30.5%)** | **Industrials (30.5%)** | **Industrials (30.5%)** |
|  | Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33644 | &nbsp;&nbsp;&nbsp;&nbsp;23562 |
| <sup>\*</sup> | XPO Inc. | &nbsp;&nbsp;107082 | &nbsp;&nbsp;&nbsp;&nbsp;22538 |
|  | Woodward Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54709 | &nbsp;&nbsp;&nbsp;&nbsp;21159 |
| <sup>\*</sup> | ATI Inc. | &nbsp;&nbsp;123943 | &nbsp;&nbsp;&nbsp;&nbsp;20276 |
|  | Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45439 | &nbsp;&nbsp;&nbsp;&nbsp;18088 |
|  | nVent Electric plc | &nbsp;&nbsp;147190 | &nbsp;&nbsp;&nbsp;&nbsp;17421 |

---

------

S&P Mid-Cap 400 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | BWX Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;83399 | &nbsp;&nbsp;&nbsp;&nbsp;17179 |
|  | RB Global Inc. | &nbsp;&nbsp;169384 | &nbsp;&nbsp;&nbsp;&nbsp;17101 |
| <sup>\*</sup> | MasTec Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55943 | &nbsp;&nbsp;&nbsp;&nbsp;16672 |
| <sup>\*</sup> | RBC Bearings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28721 | &nbsp;&nbsp;&nbsp;&nbsp;16541 |
|  | ITT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77542 | &nbsp;&nbsp;&nbsp;&nbsp;15695 |
| <sup>\*</sup> | API Group Corp. | &nbsp;&nbsp;337643 | &nbsp;&nbsp;&nbsp;&nbsp;15012 |
| <sup>\*</sup> | Kratos Defense & Security Solutions Inc. | &nbsp;&nbsp;161303 | &nbsp;&nbsp;&nbsp;&nbsp;13901 |
| <sup>\*</sup> | CACI International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;20136 | &nbsp;&nbsp;&nbsp;&nbsp;12286 |
| <sup>\*</sup> | Sterling Infrastructure Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28026 | &nbsp;&nbsp;&nbsp;&nbsp;11999 |
| <sup>\*</sup> | Dycom Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26407 | &nbsp;&nbsp;&nbsp;&nbsp;11092 |
| <sup>\*</sup> | SPX Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45453 | &nbsp;&nbsp;&nbsp;&nbsp;10315 |
|  | Flowserve Corp. | &nbsp;&nbsp;115944 | &nbsp;&nbsp;&nbsp;&nbsp;10263 |
|  | Lincoln Electric Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9798 |
| <sup>\*</sup> | Nextpower Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;87988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9248 |
|  | Mueller Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 |
|  | Tetra Tech Inc. | &nbsp;&nbsp;238464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8547 |
| <sup>\*</sup> | Chart Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8357 |
|  | Watts Water Technologies Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;25006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8221 |
| <sup>\*</sup> | AeroVironment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7321 |
|  | Graco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7244 |
|  | TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;92122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7236 |
| <sup>\*</sup> | Clean Harbors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6850 |
|  | Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6732 |
|  | Donaldson Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6566 |
|  | Carlisle Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457 |
|  | Advanced Drainage Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6262 |
|  | AAON Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6247 |
|  | UL Solutions Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;68662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5766 |
|  | Acuity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5687 |
|  | EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;33677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5595 |
|  | Applied Industrial Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5346 |
|  | AECOM | &nbsp;&nbsp;&nbsp;&nbsp;53166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5209 |
|  | Valmont Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4963 |
|  | Crane Co. | &nbsp;&nbsp;&nbsp;&nbsp;22781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4568 |
| <sup>\*</sup> | ExlService Holdings Inc. | &nbsp;&nbsp;144812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525 |
|  | Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4514 |
| <sup>\*</sup> | Paylocity Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4280 |
| <sup>\*</sup> | Core & Main Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;76559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4146 |
|  | MSA Safety Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3937 |
|  | Simpson Manufacturing Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3589 |
|  | GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3480 |
|  | Fortune Brands Innovations Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3396 |
| <sup>\*</sup> | StandardAero Inc. | &nbsp;&nbsp;109092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3360 |
|  | Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;26917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3143 |
| <sup>\*</sup> | Kirby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949 |
|  | Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892 |
|  | Genpact Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;68694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2729 |
| <sup>\*</sup> | Parsons Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146 |
|  | Maximus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2097 |
| <sup>\*</sup> | FTI Consulting Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1814 |
|  | Exponent Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721 |
|  | MSC Industrial Direct Co. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;17518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644 |
| <sup>\*,1</sup> | Avis Budget Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051 |
|  |  |  | &nbsp;&nbsp;**499333** |
| **Information Technology (20.5%)** | **Information Technology (20.5%)** | **Information Technology (20.5%)** | **Information Technology (20.5%)** |
| <sup>\*</sup> | Lumentum Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64670 | &nbsp;&nbsp;&nbsp;&nbsp;45328 |
| <sup>\*</sup> | Coherent Corp. | &nbsp;&nbsp;143355 | &nbsp;&nbsp;&nbsp;&nbsp;37119 |
| <sup>\*</sup> | Flex Ltd. | &nbsp;&nbsp;337330 | &nbsp;&nbsp;&nbsp;&nbsp;21260 |
| <sup>\*</sup> | Pure Storage Inc. Class A | &nbsp;&nbsp;284800 | &nbsp;&nbsp;&nbsp;&nbsp;18290 |
| <sup>\*</sup> | Fabrinet | &nbsp;&nbsp;&nbsp;&nbsp;32680 | &nbsp;&nbsp;&nbsp;&nbsp;17831 |
| <sup>\*</sup> | Twilio Inc. Class A | &nbsp;&nbsp;138297 | &nbsp;&nbsp;&nbsp;&nbsp;16728 |
| <sup>\*</sup> | MACOM Technology Solutions Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58423 | &nbsp;&nbsp;&nbsp;&nbsp;14496 |
|  | Advanced Energy Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34426 | &nbsp;&nbsp;&nbsp;&nbsp;11552 |
| <sup>\*</sup> | Guidewire Software Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77559 | &nbsp;&nbsp;&nbsp;&nbsp;11271 |
| <sup>\*</sup> | Okta Inc. | &nbsp;&nbsp;153670 | &nbsp;&nbsp;&nbsp;&nbsp;11141 |
|  | MKS Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43508 | &nbsp;&nbsp;&nbsp;&nbsp;10636 |
| <sup>\*</sup> | Dynatrace Inc. | &nbsp;&nbsp;274997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9878 |
| <sup>\*</sup> | TTM Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9826 |
| <sup>\*</sup> | Rambus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9786 |

---

------

S&P Mid-Cap 400 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Entegris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7328 |
| <sup>\*</sup> | Lattice Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;73619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7040 |
| <sup>\*</sup> | Nutanix Inc. Class A | &nbsp;&nbsp;148208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5673 |
| <sup>\*</sup> | Docusign Inc. | &nbsp;&nbsp;108254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4879 |
| <sup>\*</sup> | Onto Innovation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4633 |
| <sup>\*</sup> | Manhattan Associates Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4543 |
|  | Cognex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;76493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4161 |
| <sup>\*</sup> | Dropbox Inc. Class A | &nbsp;&nbsp;159187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3978 |
| <sup>\*</sup> | Cirrus Logic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3746 |
| <sup>\*</sup> | Appfolio Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3744 |
|  | Pegasystems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;83665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3659 |
|  | Littelfuse Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 |
| <sup>\*</sup> | Silicon Laboratories Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250 |
| <sup>\*</sup> | UiPath Inc. Class A | &nbsp;&nbsp;292639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140 |
|  | Bentley Systems Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;85526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3126 |
| <sup>\*</sup> | Qualys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3026 |
| <sup>\*</sup> | Allegro MicroSystems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2598 |
|  | Vontier Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381 |
|  | Amkor Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2379 |
|  | Belden Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361 |
| <sup>\*</sup> | Commvault Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086 |
| <sup>\*</sup> | Novanta Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060 |
|  | Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891 |
| <sup>\*</sup> | BILL Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772 |
|  | Dolby Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;25090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670 |
|  | Crane NXT Co. | &nbsp;&nbsp;&nbsp;&nbsp;19360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 |
| <sup>\*</sup> | Blackbaud Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**335379** |
| **Materials (3.4%)** | **Materials (3.4%)** | **Materials (3.4%)** | **Materials (3.4%)** |
|  | Royal Gold Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22155 |
|  | Hecla Mining Co. | &nbsp;&nbsp;611286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15227 |
|  | RPM International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5472 |
|  | NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4450 |
| <sup>\*</sup> | MP Materials Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4270 |
|  | Eagle Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3341 |
| <sup>\*</sup> | Knife River Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1839 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**56754** |
| **Real Estate (4.9%)** | **Real Estate (4.9%)** | **Real Estate (4.9%)** | **Real Estate (4.9%)** |
|  | WP Carey Inc. | &nbsp;&nbsp;105950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7909 |
|  | First Industrial Realty Trust Inc. | &nbsp;&nbsp;120789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7627 |
|  | Omega Healthcare Investors Inc. | &nbsp;&nbsp;145578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7027 |
|  | Lamar Advertising Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;47540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6548 |
|  | Equity LifeStyle Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6056 |
|  | EastGroup Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5913 |
|  | Gaming & Leisure Properties Inc. | &nbsp;&nbsp;116188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5683 |
|  | American Healthcare REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5144 |
|  | Sabra Health Care REIT Inc. | &nbsp;&nbsp;227538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4676 |
|  | STAG Industrial Inc. | &nbsp;&nbsp;103961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4077 |
|  | Brixmor Property Group Inc. | &nbsp;&nbsp;128514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3890 |
|  | CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;93668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3854 |
|  | Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3793 |
|  | NNN REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3373 |
|  | EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;36094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144 |
|  | COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp;43247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374 |
|  | National Storage Affiliates Trust | &nbsp;&nbsp;&nbsp;&nbsp;27094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**80037** |
| **Utilities (2.2%)** | **Utilities (2.2%)** | **Utilities (2.2%)** | **Utilities (2.2%)** |
| <sup>\*</sup> | Talen Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15463 |
|  | Ormat Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5749 |
|  | National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;51119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4653 |
|  | IDACORP Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3694 |
|  | TXNM Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163 |
|  | Spire Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120 |
|  | Northwestern Energy Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1723 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35565** |
| **Total Common Stocks (Cost $1,238,054)** | **Total Common Stocks (Cost $1,238,054)** | **Total Common Stocks (Cost $1,238,054)** | **1635999** |

---

------

S&P Mid-Cap 400 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Market<br> Value•  ($000)** |
| **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** |
| **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** |
| <sup>2,3</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $5,643)** | &nbsp;&nbsp;56431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5643** |
| **Total Investments (100.3%) (Cost $1,243,697)** | **Total Investments (100.3%) (Cost $1,243,697)** |  | &nbsp;&nbsp;**1641642** |
| **Other Assets and Liabilities—Net (-0.3%)** | **Other Assets and Liabilities—Net (-0.3%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4538)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**1637104** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $4,072. |
| 2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 3 | Collateral of $4,438 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| Crocs Inc. | 8/31/2026 | BANA | 940 | (3.640) |  | (33) |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> BANA—Bank of America, N.A.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Growth Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $1,238,054) | 1635999 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $5,643) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5643 |
| Total Investments in Securities | 1641642 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 |
| **Total Assets** | **1642267** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4438 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5163** |
| **Net Assets** | **1637104** |
| 1 Includes $4,072 of securities on loan. |  |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 1559830 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77274 |
| **Net Assets** | **1637104** |
| **ETF Shares—Net Assets** |  |
| **Applicable to 11,100,000 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1468772** |
| **Net Asset Value Per Share—ETF Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$132.32** |
| **Institutional Shares—Net Assets** |  |
| **Applicable to 319,069 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;&nbsp;&nbsp;**168332** |
| **Net Asset Value Per Share—Institutional Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$527.57** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Growth Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6157 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6207 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| Shareholders' Reports—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| Shareholders' Reports—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5500** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62341 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(356) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**61973** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117166 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33) |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**117138** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**184611** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $21. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $38, less than $1, and less than $1, respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $78,254 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Growth Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10058 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32976 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;117138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21756 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;184611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64790 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8673) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8641) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1076) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1218) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9749) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9859) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;163192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8655) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18546) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;154537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21614 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;329399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76545 |
| **Net Assets** |  |  |
| **Beginning of Period** | **1307705** | &nbsp;&nbsp;&nbsp;**1231160** |
| **End of Period** | **1637104** | &nbsp;&nbsp;&nbsp;**1307705** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Growth Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023<sup>1</sup> | &nbsp;&nbsp;&nbsp;2022<sup>1</sup> | &nbsp;&nbsp;&nbsp;2021<sup>1</sup> |
| **Net Asset Value, Beginning of Period** | **$118.40** | &nbsp;&nbsp;&nbsp;**$113.32** | &nbsp;&nbsp;&nbsp;&nbsp;**$94.90** | &nbsp;&nbsp;&nbsp;**$86.30** | &nbsp;&nbsp;&nbsp;**$102.72** | &nbsp;&nbsp;&nbsp;&nbsp;**$76.26** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.526 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;14.260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;&nbsp;&nbsp;(16.729) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.594 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;14.694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.488 | &nbsp;&nbsp;&nbsp;&nbsp;(15.920) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.120 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.774) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.887) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.888) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.660) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.774) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.887) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.888) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.660) |
| **Net Asset Value, End of Period** | **$132.32** | &nbsp;&nbsp;&nbsp;**$118.40** | &nbsp;&nbsp;&nbsp;**$113.32** | &nbsp;&nbsp;&nbsp;**$94.90** | &nbsp;&nbsp;&nbsp;&nbsp;**$86.30** | &nbsp;&nbsp;&nbsp;**$102.72** |
| **Total Return** | **12.46%** | &nbsp;&nbsp;&nbsp;**5.30%** | &nbsp;&nbsp;&nbsp;**20.80%** | &nbsp;&nbsp;&nbsp;**11.12%** | &nbsp;&nbsp;&nbsp;**-15.57%** | &nbsp;&nbsp;&nbsp;**35.70%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $1469 | &nbsp;&nbsp;&nbsp;$1148 | &nbsp;&nbsp;&nbsp;$1061 | &nbsp;&nbsp;&nbsp;$785 | &nbsp;&nbsp;&nbsp;$725 | &nbsp;&nbsp;&nbsp;$925 |
| Ratio of Total Expenses to Average Net Assets | 0.10% | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% |
| Ratio of Net Investment Income to Average Net Assets | 0.70% | &nbsp;&nbsp;&nbsp;0.79% | &nbsp;&nbsp;&nbsp;1.00% | &nbsp;&nbsp;&nbsp;1.12% | &nbsp;&nbsp;&nbsp;0.85% | &nbsp;&nbsp;&nbsp;0.57% |
| Portfolio Turnover Rate<sup>3</sup> | 36% | &nbsp;&nbsp;&nbsp;38% | &nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;44% | &nbsp;&nbsp;&nbsp;40% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

1 Adjusted to reflect a 2-for-1 share split effective March 13, 2023. <br> 2 Calculated based on average shares outstanding. <br> 3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Growth Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$472.15** | &nbsp;&nbsp;&nbsp;**$451.83** | &nbsp;&nbsp;&nbsp;**$378.38** | &nbsp;&nbsp;&nbsp;**$344.11** | &nbsp;&nbsp;&nbsp;**$409.55** | &nbsp;&nbsp;&nbsp;**$303.97** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.347 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;56.875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73.820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.855 | &nbsp;&nbsp;&nbsp;&nbsp;(66.731) | &nbsp;&nbsp;&nbsp;&nbsp;106.033 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;58.787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78.201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38.063 | &nbsp;&nbsp;&nbsp;&nbsp;(63.198) | &nbsp;&nbsp;&nbsp;&nbsp;108.380 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(3.367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.751) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.793) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.242) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.800) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(3.367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.751) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.793) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.242) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.800) |
| **Net Asset Value, End of Period** | **$527.57** | &nbsp;&nbsp;&nbsp;**$472.15** | &nbsp;&nbsp;&nbsp;**$451.83** | &nbsp;&nbsp;&nbsp;**$378.38** | &nbsp;&nbsp;&nbsp;**$344.11** | &nbsp;&nbsp;&nbsp;**$409.55** |
| **Total Return** | **12.50%** | &nbsp;&nbsp;&nbsp;**5.37%** | &nbsp;&nbsp;&nbsp;**20.86%** | &nbsp;&nbsp;&nbsp;**11.21%** | &nbsp;&nbsp;&nbsp;**-15.50%** | &nbsp;&nbsp;&nbsp;**35.80%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $168 | &nbsp;&nbsp;&nbsp;$159 | &nbsp;&nbsp;&nbsp;$170 | &nbsp;&nbsp;&nbsp;$177 | &nbsp;&nbsp;&nbsp;$125 | &nbsp;&nbsp;&nbsp;$151 |
| Ratio of Total Expenses to Average Net Assets | 0.03% | &nbsp;&nbsp;&nbsp;0.05% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% |
| Ratio of Net Investment Income to Average Net Assets | 0.77% | &nbsp;&nbsp;&nbsp;0.87% | &nbsp;&nbsp;&nbsp;1.08% | &nbsp;&nbsp;&nbsp;1.19% | &nbsp;&nbsp;&nbsp;0.94% | &nbsp;&nbsp;&nbsp;0.65% |
| Portfolio Turnover Rate<sup>2</sup> | 36% | &nbsp;&nbsp;&nbsp;38% | &nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;44% | &nbsp;&nbsp;&nbsp;40% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

1 Calculated based on average shares outstanding. <br> 2 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Growth Index Fund

Notes to Financial Statements

Vanguard S&P Mid-Cap 400 Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period. The fund had no open futures contracts at February 28, 2026.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

------

S&P Mid-Cap 400 Growth Index Fund

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $37,000, representing less than 0.01% of the fund's net assets and 0.01% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P Mid-Cap 400 Growth Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 1635999 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1635999 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5643 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5643 |
| Total | 1641642 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1641642 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(33) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33) |

---

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1244525 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470369 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73285) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397084 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $383,320,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $535,681,000 of investment securities and sold $551,759,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $316,967,000 and $148,220,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $210,515,000 and sales were $289,083,000, resulting in net realized gain of $942,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital share transactions for each class of shares were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;317003 | &nbsp;&nbsp;&nbsp;&nbsp;2620 | &nbsp;&nbsp;&nbsp;&nbsp;232018 | &nbsp;&nbsp;&nbsp;&nbsp;2040 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (153811) | &nbsp;&nbsp;&nbsp;(1220) | &nbsp;&nbsp;&nbsp;(191858) | &nbsp;&nbsp;&nbsp;(1700) |
| Net Increase (Decrease)—ETF Shares | &nbsp;&nbsp;163192 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 |
| **Institutional Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Redeemed | &nbsp;&nbsp;(13669) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28) | &nbsp;&nbsp;&nbsp;&nbsp;(36495) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81) |
| Net Increase (Decrease)—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;(8655) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) | &nbsp;&nbsp;&nbsp;&nbsp;(18546) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40) |

---

H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger

------

S&P Mid-Cap 400 Growth Index Fund

impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18432 042026

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![](tm268191d2midcap400valini001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P Mid-Cap 400 Value Index Fund

------

Contents

Financial Statements 1 <br>

------

S&P Mid-Cap 400 Value Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.8%)** | **Common Stocks (99.8%)** | **Common Stocks (99.8%)** | **Common Stocks (99.8%)** |
| **Communication Services (0.5%)** | **Communication Services (0.5%)** | **Communication Services (0.5%)** | **Communication Services (0.5%)** |
| <sup>\*</sup> | Pinterest Inc. Class A | &nbsp;&nbsp;157089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691 |
|  | Nexstar Media Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;10570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653 |
|  | Warner Music Group Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;56498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1616 |
| <sup>\*</sup> | ZoomInfo Technologies Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;94847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7549** |
| **Consumer Discretionary (12.8%)** | **Consumer Discretionary (12.8%)** | **Consumer Discretionary (12.8%)** | **Consumer Discretionary (12.8%)** |
|  | Toll Brothers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79404 | &nbsp;&nbsp;&nbsp;&nbsp;12486 |
|  | BorgWarner Inc. | &nbsp;&nbsp;176241 | &nbsp;&nbsp;&nbsp;&nbsp;10146 |
|  | Aramark | &nbsp;&nbsp;216546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9063 |
| <sup>\*</sup> | GameStop Corp. Class A | &nbsp;&nbsp;339480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8158 |
|  | Dick's Sporting Goods Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6654 |
| <sup>\*</sup> | Burlington Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6140 |
| <sup>\*</sup> | Floor & Decor Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;88772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6133 |
|  | Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5609 |
|  | Lithia Motors Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;19977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5585 |
|  | Murphy USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5488 |
| <sup>\*</sup> | Taylor Morrison Home Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;80511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305 |
|  | VF Corp. | &nbsp;&nbsp;270385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5251 |
|  | Gap Inc. | &nbsp;&nbsp;186463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5228 |
|  | Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;54280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4569 |
| <sup>\*</sup> | AutoNation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398 |
|  | Macy's Inc. | &nbsp;&nbsp;221201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4375 |
|  | Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp;53577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4266 |
|  | Thor Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4168 |
| <sup>\*</sup> | Cava Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3931 |
|  | Bath & Body Works Inc. | &nbsp;&nbsp;169862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3866 |
| <sup>1</sup> | Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3553 |
|  | KB Home | &nbsp;&nbsp;&nbsp;&nbsp;53355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392 |
|  | PVH Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2719 |
|  | Polaris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674 |
| <sup>\*</sup> | Mattel Inc. | &nbsp;&nbsp;153626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2604 |
|  | Autoliv Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2593 |
|  | Gentex Corp. | &nbsp;&nbsp;108228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533 |
| <sup>\*</sup> | Dutch Bros Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;46047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2469 |
|  | Penske Automotive Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2393 |
|  | Wyndham Hotels & Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2393 |
| <sup>\*</sup> | Crocs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250 |
| <sup>\*</sup> | Abercrombie & Fitch Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;22880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237 |
|  | Visteon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151 |
| <sup>\*</sup> | RH | &nbsp;&nbsp;&nbsp;&nbsp;12664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099 |
|  | Vail Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051 |
| <sup>\*</sup> | Goodyear Tire & Rubber Co. | &nbsp;&nbsp;235751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1945 |
|  | Harley-Davidson Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 |
|  | Hyatt Hotels Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;10679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725 |
| <sup>\*</sup> | Chewy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;61195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 |
|  | Graham Holdings Co. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532 |
|  | H&R Block Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530 |
|  | Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp;&nbsp;20866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292 |
| <sup>\*</sup> | YETI Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149 |
| <sup>\*</sup> | Capri Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047 |
| <sup>\*</sup> | Duolingo Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;10222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032 |
| <sup>1</sup> | Choice Hotels International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 |
|  |  |  | &nbsp;&nbsp;**174347** |
| **Consumer Staples (6.1%)** | **Consumer Staples (6.1%)** | **Consumer Staples (6.1%)** | **Consumer Staples (6.1%)** |
| <sup>\*</sup> | US Foods Holding Corp. | &nbsp;&nbsp;183661 | &nbsp;&nbsp;&nbsp;&nbsp;17743 |
| <sup>\*</sup> | Performance Food Group Co. | &nbsp;&nbsp;129187 | &nbsp;&nbsp;&nbsp;&nbsp;12539 |
| <sup>\*</sup> | BJ's Wholesale Club Holdings Inc. | &nbsp;&nbsp;108542 | &nbsp;&nbsp;&nbsp;&nbsp;10723 |
| <sup>\*</sup> | Darling Ingredients Inc. | &nbsp;&nbsp;130317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6928 |
|  | Ingredion Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6147 |

---

------

S&P Mid-Cap 400 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Albertsons Cos. Inc. Class A | &nbsp;&nbsp;325828 | &nbsp;&nbsp;&nbsp;&nbsp;5832 |
| <sup>\*</sup> | Maplebear Inc. | &nbsp;&nbsp;151398 | &nbsp;&nbsp;&nbsp;&nbsp;5679 |
| <sup>\*</sup> | Post Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39380 | &nbsp;&nbsp;&nbsp;&nbsp;4186 |
| <sup>\*</sup> | Sprouts Farmers Market Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48129 | &nbsp;&nbsp;&nbsp;&nbsp;3555 |
|  | Flowers Foods Inc. | &nbsp;&nbsp;173994 | &nbsp;&nbsp;&nbsp;&nbsp;1719 |
|  | Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35221 | &nbsp;&nbsp;&nbsp;&nbsp;1520 |
| <sup>\*</sup> | elf Beauty Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16214 | &nbsp;&nbsp;&nbsp;&nbsp;1493 |
| <sup>\*</sup> | Boston Beer Co. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6337 | &nbsp;&nbsp;&nbsp;&nbsp;1437 |
|  | Marzetti Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8378 | &nbsp;&nbsp;&nbsp;&nbsp;1377 |
| <sup>\*</sup> | BellRing Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61257 | &nbsp;&nbsp;&nbsp;&nbsp;1127 |
| <sup>\*</sup> | Coty Inc. Class A | &nbsp;&nbsp;302564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759 |
|  |  |  | &nbsp;&nbsp;**82764** |
| **Energy (6.3%)** | **Energy (6.3%)** | **Energy (6.3%)** | **Energy (6.3%)** |
|  | Ovintiv Inc. | &nbsp;&nbsp;231243 | &nbsp;&nbsp;11699 |
|  | Permian Resources Corp. Class A | &nbsp;&nbsp;572042 | &nbsp;&nbsp;10463 |
| <sup>\*</sup> | Antero Resources Corp. | &nbsp;&nbsp;241440 | &nbsp;&nbsp;&nbsp;&nbsp;8887 |
|  | Range Resources Corp. | &nbsp;&nbsp;195195 | &nbsp;&nbsp;&nbsp;&nbsp;8058 |
|  | Viper Energy Inc. Class A | &nbsp;&nbsp;138760 | &nbsp;&nbsp;&nbsp;&nbsp;6458 |
|  | HF Sinclair Corp. | &nbsp;&nbsp;128811 | &nbsp;&nbsp;&nbsp;&nbsp;6442 |
|  | NOV Inc. | &nbsp;&nbsp;300494 | &nbsp;&nbsp;&nbsp;&nbsp;6088 |
|  | Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46847 | &nbsp;&nbsp;&nbsp;&nbsp;5077 |
|  | Matador Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;96236 | &nbsp;&nbsp;&nbsp;&nbsp;4946 |
| <sup>\*</sup> | CNX Resources Corp. | &nbsp;&nbsp;111079 | &nbsp;&nbsp;&nbsp;&nbsp;4641 |
|  | Murphy Oil Corp. | &nbsp;&nbsp;110535 | &nbsp;&nbsp;&nbsp;&nbsp;3664 |
|  | Weatherford International plc | &nbsp;&nbsp;&nbsp;&nbsp;34274 | &nbsp;&nbsp;&nbsp;&nbsp;3615 |
|  | DT Midstream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23454 | &nbsp;&nbsp;&nbsp;&nbsp;3256 |
|  | PBF Energy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;67767 | &nbsp;&nbsp;&nbsp;&nbsp;2412 |
|  |  |  | &nbsp;&nbsp;**85706** |
| **Financials (22.8%)** | **Financials (22.8%)** | **Financials (22.8%)** | **Financials (22.8%)** |
|  | Annaly Capital Management Inc. | &nbsp;&nbsp;562698 | &nbsp;&nbsp;13077 |
|  | Reinsurance Group of America Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54137 | &nbsp;&nbsp;11679 |
|  | Pinnacle Financial Partners Inc. | &nbsp;&nbsp;123258 | &nbsp;&nbsp;11187 |
|  | Fidelity National Financial Inc. | &nbsp;&nbsp;209959 | &nbsp;&nbsp;11103 |
|  | First Horizon Corp. | &nbsp;&nbsp;405642 | &nbsp;&nbsp;&nbsp;&nbsp;9650 |
|  | Webster Financial Corp. | &nbsp;&nbsp;132871 | &nbsp;&nbsp;&nbsp;&nbsp;9584 |
|  | Ally Financial Inc. | &nbsp;&nbsp;230939 | &nbsp;&nbsp;&nbsp;&nbsp;9108 |
|  | Unum Group | &nbsp;&nbsp;126824 | &nbsp;&nbsp;&nbsp;&nbsp;9097 |
|  | SouthState Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82808 | &nbsp;&nbsp;&nbsp;&nbsp;8171 |
|  | Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;55172 | &nbsp;&nbsp;&nbsp;&nbsp;7948 |
|  | Columbia Banking System Inc. | &nbsp;&nbsp;246422 | &nbsp;&nbsp;&nbsp;&nbsp;7011 |
|  | Zions Bancorp NA | &nbsp;&nbsp;121629 | &nbsp;&nbsp;&nbsp;&nbsp;6967 |
|  | Western Alliance Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;85036 | &nbsp;&nbsp;&nbsp;&nbsp;6830 |
|  | UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58820 | &nbsp;&nbsp;&nbsp;&nbsp;6816 |
|  | Carlyle Group Inc. | &nbsp;&nbsp;130406 | &nbsp;&nbsp;&nbsp;&nbsp;6780 |
|  | Old National Bancorp | &nbsp;&nbsp;286515 | &nbsp;&nbsp;&nbsp;&nbsp;6619 |
|  | East West Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55541 | &nbsp;&nbsp;&nbsp;&nbsp;6079 |
|  | Jefferies Financial Group Inc. | &nbsp;&nbsp;135950 | &nbsp;&nbsp;&nbsp;&nbsp;6036 |
|  | First American Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;83948 | &nbsp;&nbsp;&nbsp;&nbsp;5886 |
|  | Corebridge Financial Inc. | &nbsp;&nbsp;220240 | &nbsp;&nbsp;&nbsp;&nbsp;5691 |
|  | RenaissanceRe Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18234 | &nbsp;&nbsp;&nbsp;&nbsp;5515 |
|  | Prosperity Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78255 | &nbsp;&nbsp;&nbsp;&nbsp;5507 |
|  | Commerce Bancshares Inc. | &nbsp;&nbsp;106523 | &nbsp;&nbsp;&nbsp;&nbsp;5432 |
|  | Janus Henderson Group plc | &nbsp;&nbsp;101810 | &nbsp;&nbsp;&nbsp;&nbsp;5304 |
|  | Voya Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78399 | &nbsp;&nbsp;&nbsp;&nbsp;5243 |
|  | Starwood Property Trust Inc. | &nbsp;&nbsp;286783 | &nbsp;&nbsp;&nbsp;&nbsp;5108 |
|  | FNB Corp. | &nbsp;&nbsp;295028 | &nbsp;&nbsp;&nbsp;&nbsp;5013 |
|  | Valley National Bancorp | &nbsp;&nbsp;395071 | &nbsp;&nbsp;&nbsp;&nbsp;4982 |
|  | Equitable Holdings Inc. | &nbsp;&nbsp;122745 | &nbsp;&nbsp;&nbsp;&nbsp;4937 |
|  | Glacier Bancorp Inc. | &nbsp;&nbsp;105977 | &nbsp;&nbsp;&nbsp;&nbsp;4821 |
|  | United Bankshares Inc. | &nbsp;&nbsp;115409 | &nbsp;&nbsp;&nbsp;&nbsp;4766 |
|  | RLI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75658 | &nbsp;&nbsp;&nbsp;&nbsp;4715 |
|  | American Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34219 | &nbsp;&nbsp;&nbsp;&nbsp;4550 |
|  | Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68882 | &nbsp;&nbsp;&nbsp;&nbsp;4533 |
|  | Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56623 | &nbsp;&nbsp;&nbsp;&nbsp;4193 |
|  | Selective Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49766 | &nbsp;&nbsp;&nbsp;&nbsp;4182 |
|  | Home BancShares Inc. | &nbsp;&nbsp;150582 | &nbsp;&nbsp;&nbsp;&nbsp;4135 |
|  | Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp;87223 | &nbsp;&nbsp;&nbsp;&nbsp;4061 |
|  | Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;90024 | &nbsp;&nbsp;&nbsp;&nbsp;3859 |
|  | Evercore Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;12108 | &nbsp;&nbsp;&nbsp;&nbsp;3739 |

---

------

S&P Mid-Cap 400 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Cullen/Frost Bankers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3640 |
|  | Associated Banc-Corp | &nbsp;&nbsp;134680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3557 |
|  | Houlihan Lokey Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3457 |
|  | CNO Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3284 |
|  | Flagstar Bank NA | &nbsp;&nbsp;246603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3129 |
|  | Hanover Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3018 |
| <sup>\*</sup> | Brighthouse Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825 |
|  | Essent Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;46190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2810 |
|  | Primerica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801 |
|  | SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;31427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556 |
|  | MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;90319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2396 |
| <sup>\*</sup> | Euronet Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2241 |
|  | First Financial Bankshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926 |
|  | Morningstar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836 |
| <sup>\*</sup> | Texas Capital Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1827 |
| <sup>\*</sup> | WEX Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728 |
|  | Hamilton Lane Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;15494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626 |
|  | International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1585 |
|  | Kemper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559 |
|  | SLM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411 |
|  | Ryan Specialty Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;31729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249 |
| <sup>\*,1</sup> | Shift4 Payments Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;19480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 |
|  |  |  | &nbsp;&nbsp;**311233** |
| **Health Care (3.2%)** | **Health Care (3.2%)** | **Health Care (3.2%)** | **Health Care (3.2%)** |
| <sup>\*</sup> | Illumina Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7786 |
| <sup>\*</sup> | Avantor Inc. | &nbsp;&nbsp;561682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5083 |
| <sup>\*</sup> | Roivant Sciences Ltd. | &nbsp;&nbsp;151605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4387 |
| <sup>\*</sup> | BioMarin Pharmaceutical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4201 |
| <sup>\*</sup> | Envista Holdings Corp. | &nbsp;&nbsp;135452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3957 |
| <sup>\*</sup> | Cytokinetics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883 |
| <sup>\*</sup> | Masimo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2836 |
| <sup>\*</sup> | Repligen Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525 |
|  | Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2440 |
|  | DENTSPLY SIRONA Inc. | &nbsp;&nbsp;164405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413 |
| <sup>\*</sup> | Bio-Rad Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878 |
|  | Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722 |
| <sup>\*</sup> | Lantheus Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268 |
| <sup>\*</sup> | Haemonetics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**44356** |
| **Industrials (20.2%)** | **Industrials (20.2%)** | **Industrials (20.2%)** | **Industrials (20.2%)** |
|  | Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54693 | &nbsp;&nbsp;&nbsp;&nbsp;12086 |
|  | Watsco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28771 | &nbsp;&nbsp;&nbsp;&nbsp;12007 |
|  | WESCO International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40076 | &nbsp;&nbsp;&nbsp;&nbsp;11602 |
|  | CNH Industrial NV | &nbsp;&nbsp;729042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8967 |
| <sup>\*</sup> | Saia Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8899 |
|  | Knight-Swift Transportation Holdings Inc. Class A | &nbsp;&nbsp;133738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8415 |
|  | Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;67712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8266 |
|  | Toro Co. | &nbsp;&nbsp;&nbsp;&nbsp;80621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7970 |
|  | Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;99930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7877 |
|  | Carlisle Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7728 |
|  | Ryder System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7369 |
| <sup>\*</sup> | American Airlines Group Inc. | &nbsp;&nbsp;543793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7107 |
|  | AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6965 |
| <sup>\*</sup> | Fluor Corp. | &nbsp;&nbsp;132787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6946 |
| <sup>\*</sup> | Middleby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6447 |
|  | Terex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;93481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6430 |
|  | Graco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6286 |
|  | TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;76792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6032 |
|  | AECOM | &nbsp;&nbsp;&nbsp;&nbsp;61102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5987 |
| <sup>\*</sup> | Clean Harbors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5945 |
| <sup>\*</sup> | GXO Logistics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5926 |
|  | Timken Co. | &nbsp;&nbsp;&nbsp;&nbsp;52219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659 |
|  | UFP Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4939 |
| <sup>\*</sup> | Alaska Air Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4931 |
|  | Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4784 |
| <sup>\*</sup> | Core & Main Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;87973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4765 |
|  | Landstar System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610 |
| <sup>\*</sup> | Nextpower Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;42785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4497 |
|  | Sensata Technologies Holding plc | &nbsp;&nbsp;120010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4481 |

---

------

S&P Mid-Cap 400 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Advanced Drainage Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4443 |
|  | KBR Inc. | &nbsp;&nbsp;104616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4418 |
|  | Lincoln Electric Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4164 |
|  | Crane Co. | &nbsp;&nbsp;&nbsp;&nbsp;19763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3963 |
|  | Applied Industrial Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3951 |
| <sup>\*</sup> | Trex Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3660 |
|  | Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3498 |
|  | Simpson Manufacturing Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372 |
|  | Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3321 |
| <sup>\*</sup> | Kirby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3130 |
|  | Mueller Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3021 |
|  | Valmont Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985 |
|  | Donaldson Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921 |
|  | Genpact Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781 |
| <sup>\*</sup> | FTI Consulting Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2460 |
|  | Acuity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419 |
|  | MSA Safety Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2370 |
|  | Fortune Brands Innovations Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313 |
|  | GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275 |
|  | MSC Industrial Direct Co. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051 |
| <sup>\*</sup> | StandardAero Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862 |
|  | Maximus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614 |
|  | Exponent Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436 |
|  | Concentrix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195 |
|  | Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159 |
| <sup>\*</sup> | Parsons Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955 |
| <sup>\*,1</sup> | Avis Budget Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 |
|  |  |  | &nbsp;&nbsp;**276068** |
| **Information Technology (7.0%)** | **Information Technology (7.0%)** | **Information Technology (7.0%)** | **Information Technology (7.0%)** |
|  | Entegris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9925 |
|  | TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9784 |
| <sup>\*</sup> | Arrow Electronics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457 |
| <sup>\*</sup> | Onto Innovation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533 |
|  | Avnet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4411 |
|  | Littelfuse Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4194 |
|  | MKS Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3923 |
|  | Cognex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756 |
| <sup>\*</sup> | Nutanix Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;89234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3416 |
| <sup>\*</sup> | Docusign Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3061 |
| <sup>\*</sup> | Lattice Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984 |
| <sup>\*</sup> | IPG Photonics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2740 |
|  | Vontier Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739 |
| <sup>\*</sup> | Manhattan Associates Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622 |
| <sup>\*</sup> | Synaptics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2617 |
| <sup>\*</sup> | Silicon Laboratories Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2602 |
| <sup>\*</sup> | Cirrus Logic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2551 |
|  | Belden Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506 |
|  | Amkor Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330 |
| <sup>\*</sup> | Kyndryl Holdings Inc. | &nbsp;&nbsp;188310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322 |
|  | Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2176 |
| <sup>\*</sup> | Novanta Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 |
|  | Dolby Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;27717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845 |
| <sup>\*</sup> | BILL Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667 |
|  | Bentley Systems Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;45386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659 |
| <sup>\*</sup> | ASGN Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509 |
| <sup>\*</sup> | Allegro MicroSystems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378 |
| <sup>\*</sup> | Commvault Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205 |
|  | Crane NXT Co. | &nbsp;&nbsp;&nbsp;&nbsp;23189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120 |
| <sup>\*</sup> | UiPath Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;83359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894 |
| <sup>\*</sup> | Blackbaud Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**95759** |
| **Materials (8.2%)** | **Materials (8.2%)** | **Materials (8.2%)** | **Materials (8.2%)** |
|  | Reliance Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43076 | &nbsp;&nbsp;&nbsp;&nbsp;13597 |
|  | Alcoa Corp. | &nbsp;&nbsp;213340 | &nbsp;&nbsp;&nbsp;&nbsp;13244 |
|  | Crown Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93931 | &nbsp;&nbsp;&nbsp;&nbsp;10764 |
|  | AptarGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7769 |
|  | RPM International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7112 |
|  | Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;91418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6701 |
| <sup>\*</sup> | Axalta Coating Systems Ltd. | &nbsp;&nbsp;175754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5872 |

---

------

S&P Mid-Cap 400 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | Cleveland-Cliffs Inc. | &nbsp;&nbsp;469339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5003 |
|  | Sonoco Products Co. | &nbsp;&nbsp;&nbsp;&nbsp;81256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4589 |
|  | Louisiana-Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4424 |
|  | Silgan Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3472 |
|  | Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3337 |
|  | Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3098 |
|  | Graphic Packaging Holding Co. | &nbsp;&nbsp;243124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2973 |
|  | Eagle Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2897 |
|  | Westlake Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895 |
| <sup>\*</sup> | MP Materials Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2679 |
|  | Scotts Miracle-Gro Co. | &nbsp;&nbsp;&nbsp;&nbsp;36632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2569 |
| <sup>\*</sup> | Knife River Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492 |
|  | Olin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;94016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2385 |
|  | Ashland Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348 |
|  | Greif Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**111787** |
| **Real Estate (8.3%)** | **Real Estate (8.3%)** | **Real Estate (8.3%)** | **Real Estate (8.3%)** |
| <sup>\*</sup> | Jones Lang LaSalle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12268 |
|  | American Homes 4 Rent Class A | &nbsp;&nbsp;268577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8057 |
|  | Rexford Industrial Realty Inc. | &nbsp;&nbsp;191372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7171 |
|  | WP Carey Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6334 |
|  | Gaming & Leisure Properties Inc. | &nbsp;&nbsp;128232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6272 |
|  | Omega Healthcare Investors Inc. | &nbsp;&nbsp;111995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5406 |
|  | Healthcare Realty Trust Inc. Class A | &nbsp;&nbsp;289679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5344 |
|  | Equity LifeStyle Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5255 |
|  | Rayonier Inc. | &nbsp;&nbsp;228855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4918 |
|  | Kite Realty Group Trust | &nbsp;&nbsp;178363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4646 |
|  | CubeSmart | &nbsp;&nbsp;103323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4251 |
|  | Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4184 |
|  | Brixmor Property Group Inc. | &nbsp;&nbsp;136173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4122 |
|  | NNN REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4042 |
|  | Lamar Advertising Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;28624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3943 |
|  | Vornado Realty Trust | &nbsp;&nbsp;132899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3665 |
|  | EastGroup Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3273 |
|  | Independence Realty Trust Inc. | &nbsp;&nbsp;196668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3259 |
|  | Cousins Properties Inc. | &nbsp;&nbsp;138372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3205 |
|  | American Healthcare REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2969 |
|  | Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674 |
|  | STAG Industrial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2354 |
|  | Park Hotels & Resorts Inc. | &nbsp;&nbsp;164697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863 |
|  | EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;30106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1789 |
|  | COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp;53989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716 |
|  | National Storage Affiliates Trust | &nbsp;&nbsp;&nbsp;&nbsp;33831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**114165** |
| **Utilities (4.4%)** | **Utilities (4.4%)** | **Utilities (4.4%)** | **Utilities (4.4%)** |
|  | Essential Utilities Inc. | &nbsp;&nbsp;233130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9318 |
|  | OGE Energy Corp. | &nbsp;&nbsp;165974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8156 |
|  | UGI Corp. | &nbsp;&nbsp;177062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6624 |
|  | Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;92673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5001 |
|  | Southwest Gas Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4666 |
|  | Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4580 |
|  | New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489 |
|  | ONE Gas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4322 |
|  | IDACORP Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3076 |
|  | TXNM Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2812 |
|  | National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;28286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575 |
|  | Spire Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539 |
|  | Northwestern Energy Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60140** |
| **Total Common Stocks (Cost $1,205,305)** | **Total Common Stocks (Cost $1,205,305)** | **Total Common Stocks (Cost $1,205,305)** | **1363874** |

---

------

S&P Mid-Cap 400 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Market<br> Value•  ($000)** |
| **Temporary Cash Investments (0.2%)** | **Temporary Cash Investments (0.2%)** | **Temporary Cash Investments (0.2%)** | **Temporary Cash Investments (0.2%)** |
| **Money Market Fund (0.2%)** | **Money Market Fund (0.2%)** | **Money Market Fund (0.2%)** | **Money Market Fund (0.2%)** |
| <sup>2,3</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $2,151)** | &nbsp;&nbsp;21516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2151** |
| **Total Investments (100.0%) (Cost $1,207,456)** | **Total Investments (100.0%) (Cost $1,207,456)** |  | &nbsp;&nbsp;**1366025** |
| **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**121** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**1366146** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,141. |
| 2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 3 | Collateral of $1,251 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini S&P Mid-Cap 400 Index | March 2026 | 2 | 716 | &nbsp;&nbsp;(4) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| Lattice Semiconductor Corp. | 8/31/2026 | BANA | 1516 | (3.640) |  | (82) |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> BANA—Bank of America, N.A.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Value Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $1,205,305) | 1363874 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $2,151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151 |
| Total Investments in Securities | 1366025 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1278 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 |
| **Total Assets** | **1367563** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1417** |
| **Net Assets** | **1366146** |
| 1 Includes $1,141 of securities on loan. |  |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 1451043 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;(84897) |
| **Net Assets** | **1366146** |
| **ETF Shares—Net Assets** |  |
| **Applicable to 11,545,000 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1242090** |
| **Net Asset Value Per Share—ETF Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$107.59** |
| **Institutional Shares—Net Assets** |  |
| **Applicable to 287,400 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;&nbsp;&nbsp;**124056** |
| **Net Asset Value Per Share—Institutional Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$431.65** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Value Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11672 |
| Interest<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11699 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| Shareholders' Reports—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Shareholders' Reports—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11122** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61607 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398 |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**62127** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33734 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82) |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33597** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**106846** |

---

---

| | |
|:---|:---|
| 1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $13, less than $1, and less than $1, respectively. Purchases and sales are for temporary cash investment purposes. |
| 2 | Includes $81,592 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Value Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20338 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94569 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24930) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;106846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89977 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;(20371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15858) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2134) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(22334) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17992) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23160) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;105303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61665 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;189815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133650 |
| **Net Assets** |  |  |
| **Beginning of Period** | **1176331** | &nbsp;&nbsp;&nbsp;**1042681** |
| **End of Period** | **1366146** | &nbsp;&nbsp;&nbsp;**1176331** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Value Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023<sup>1</sup> | &nbsp;&nbsp;&nbsp;2022<sup>1</sup> | &nbsp;&nbsp;&nbsp;2021<sup>1</sup> |
| **Net Asset Value, Beginning of Period** | **$100.83** | &nbsp;&nbsp;&nbsp;&nbsp;**$94.72** | &nbsp;&nbsp;&nbsp;**$82.68** | &nbsp;&nbsp;&nbsp;**$76.82** | &nbsp;&nbsp;&nbsp;**$82.65** | &nbsp;&nbsp;&nbsp;**$54.80** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.244 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.914 | &nbsp;&nbsp;&nbsp;&nbsp;11.794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.987 | &nbsp;&nbsp;&nbsp;&nbsp;(5.769) | &nbsp;&nbsp;&nbsp;&nbsp;28.198 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.775 | &nbsp;&nbsp;&nbsp;&nbsp;13.369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.370 | &nbsp;&nbsp;&nbsp;&nbsp;(4.327) | &nbsp;&nbsp;&nbsp;&nbsp;29.442 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(1.841) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.665) | &nbsp;&nbsp;&nbsp;&nbsp;(1.329) | &nbsp;&nbsp;&nbsp;&nbsp;(1.510) | &nbsp;&nbsp;&nbsp;&nbsp;(1.503) | &nbsp;&nbsp;&nbsp;&nbsp;(1.592) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(1.841) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.665) | &nbsp;&nbsp;&nbsp;&nbsp;(1.329) | &nbsp;&nbsp;&nbsp;&nbsp;(1.510) | &nbsp;&nbsp;&nbsp;&nbsp;(1.503) | &nbsp;&nbsp;&nbsp;&nbsp;(1.592) |
| **Net Asset Value, End of Period** | **$107.59** | &nbsp;&nbsp;&nbsp;**$100.83** | &nbsp;&nbsp;&nbsp;**$94.72** | &nbsp;&nbsp;&nbsp;**$82.68** | &nbsp;&nbsp;&nbsp;**$76.82** | &nbsp;&nbsp;&nbsp;**$82.65** |
| **Total Return** | **8.61%** | &nbsp;&nbsp;&nbsp;**8.31%** | &nbsp;&nbsp;&nbsp;**16.34%** | &nbsp;&nbsp;&nbsp;**9.79%** | &nbsp;&nbsp;&nbsp;**-5.34%** | &nbsp;&nbsp;&nbsp;**54.51%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $1242 | &nbsp;&nbsp;&nbsp;$1069 | &nbsp;&nbsp;&nbsp;$919 | &nbsp;&nbsp;&nbsp;$812 | &nbsp;&nbsp;&nbsp;$807 | &nbsp;&nbsp;&nbsp;$822 |
| Ratio of Total Expenses to Average Net Assets | 0.10% | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% |
| Ratio of Net Investment Income to Average Net Assets | 1.85% | &nbsp;&nbsp;&nbsp;1.95% | &nbsp;&nbsp;&nbsp;1.85% | &nbsp;&nbsp;&nbsp;1.75% | &nbsp;&nbsp;&nbsp;1.79% | &nbsp;&nbsp;&nbsp;1.72% |
| Portfolio Turnover Rate<sup>3</sup> | 32% | &nbsp;&nbsp;&nbsp;39% | &nbsp;&nbsp;&nbsp;41% | &nbsp;&nbsp;&nbsp;43% | &nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;36% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

1 Adjusted to reflect a 2-for-1 share split effective March 13, 2023. <br> 2 Calculated based on average shares outstanding. <br> 3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Value Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$404.62** | &nbsp;&nbsp;&nbsp;**$380.08** | &nbsp;&nbsp;&nbsp;**$331.78** | &nbsp;&nbsp;&nbsp;**$308.23** | &nbsp;&nbsp;&nbsp;**$331.49** | &nbsp;&nbsp;&nbsp;**$219.78** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.090 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;30.863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47.369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.063 | &nbsp;&nbsp;&nbsp;&nbsp;(23.292) | &nbsp;&nbsp;&nbsp;&nbsp;113.153 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;34.649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53.877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.825 | &nbsp;&nbsp;&nbsp;&nbsp;(17.145) | &nbsp;&nbsp;&nbsp;&nbsp;118.243 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(7.619) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.935) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.577) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.533) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(7.619) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.935) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.577) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.533) |
| **Net Asset Value, End of Period** | **$431.65** | &nbsp;&nbsp;&nbsp;**$404.62** | &nbsp;&nbsp;&nbsp;**$380.08** | &nbsp;&nbsp;&nbsp;**$331.78** | &nbsp;&nbsp;&nbsp;**$308.23** | &nbsp;&nbsp;&nbsp;**$331.49** |
| **Total Return** | **8.65%** | &nbsp;&nbsp;&nbsp;**8.38%** | &nbsp;&nbsp;&nbsp;**16.39%** | &nbsp;&nbsp;&nbsp;**9.88%** | &nbsp;&nbsp;&nbsp;**-5.23%** | &nbsp;&nbsp;&nbsp;**54.62%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $124 | &nbsp;&nbsp;&nbsp;$107 | &nbsp;&nbsp;&nbsp;$123 | &nbsp;&nbsp;&nbsp;$99 | &nbsp;&nbsp;&nbsp;$79 | &nbsp;&nbsp;&nbsp;$162 |
| Ratio of Total Expenses to Average Net Assets | 0.03% | &nbsp;&nbsp;&nbsp;0.05% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% |
| Ratio of Net Investment Income to Average Net Assets | 1.90% | &nbsp;&nbsp;&nbsp;2.03% | &nbsp;&nbsp;&nbsp;1.90% | &nbsp;&nbsp;&nbsp;1.81% | &nbsp;&nbsp;&nbsp;1.90% | &nbsp;&nbsp;&nbsp;1.79% |
| Portfolio Turnover Rate<sup>2</sup> | 32% | &nbsp;&nbsp;&nbsp;39% | &nbsp;&nbsp;&nbsp;41% | &nbsp;&nbsp;&nbsp;43% | &nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;36% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

1 Calculated based on average shares outstanding. <br> 2 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Mid-Cap 400 Value Index Fund

Notes to Financial Statements

Vanguard S&P Mid-Cap 400 Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

S&P Mid-Cap 400 Value Index Fund

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $30,000, representing less than 0.01% of the fund's net assets and 0.01% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P Mid-Cap 400 Value Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 1363874 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1363874 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151 |
| Total | 1366025 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1366025 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(82) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82) |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | &nbsp;&nbsp;&nbsp;(82) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1210009 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230122 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74192) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155930 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $305,020,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $392,263,000 of investment securities and sold $391,102,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $294,284,000 and $200,436,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $308,487,000 and sales were $185,263,000, resulting in net realized loss of $4,578,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital share transactions for each class of shares were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;298590 | &nbsp;&nbsp;&nbsp;&nbsp;2880 | &nbsp;&nbsp;&nbsp;&nbsp;390519 | &nbsp;&nbsp;&nbsp;&nbsp;4060 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (202609) | &nbsp;&nbsp;&nbsp;(1940) | &nbsp;&nbsp;&nbsp;(305694) | &nbsp;&nbsp;&nbsp;(3160) |
| Net Increase (Decrease)—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;95981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 |
| **Institutional Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;16261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(8902) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) | &nbsp;&nbsp;&nbsp;&nbsp;(37196) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97) |
| Net Increase (Decrease)—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;(23160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61) |

---

H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

------

S&P Mid-Cap 400 Value Index Fund

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18442 042026

------

![](tm268191d2samllcap600vali001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P Small-Cap 600 Value Index Fund

------

Contents

Financial Statements 1 <br>

------

S&P Small-Cap 600 Value Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.7%)** | **Common Stocks (99.7%)** | **Common Stocks (99.7%)** | **Common Stocks (99.7%)** |
| **Communication Services (3.8%)** | **Communication Services (3.8%)** | **Communication Services (3.8%)** | **Communication Services (3.8%)** |
| <sup>\*</sup> | Versant Media Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;320087 | &nbsp;&nbsp;10665 |
|  | Telephone & Data Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;216385 | &nbsp;&nbsp;&nbsp;&nbsp;9683 |
| <sup>\*</sup> | Lumen Technologies Inc. | &nbsp;&nbsp;1142658 | &nbsp;&nbsp;&nbsp;&nbsp;8124 |
|  | TEGNA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;354599 | &nbsp;&nbsp;&nbsp;&nbsp;7429 |
| <sup>\*</sup> | IAC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;143543 | &nbsp;&nbsp;&nbsp;&nbsp;5500 |
|  | John Wiley & Sons Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90002 | &nbsp;&nbsp;&nbsp;&nbsp;2792 |
| <sup>\*</sup> | Cargurus Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89435 | &nbsp;&nbsp;&nbsp;&nbsp;2746 |
|  | Cinemark Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88606 | &nbsp;&nbsp;&nbsp;&nbsp;2502 |
| <sup>\*</sup> | Ziff Davis Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86979 | &nbsp;&nbsp;&nbsp;&nbsp;2355 |
|  | Iridium Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89939 | &nbsp;&nbsp;&nbsp;&nbsp;2154 |
|  | Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49785 | &nbsp;&nbsp;&nbsp;&nbsp;1731 |
|  | Shenandoah Telecommunications Co. | &nbsp;&nbsp;&nbsp;&nbsp;100357 | &nbsp;&nbsp;&nbsp;&nbsp;1368 |
| <sup>\*</sup> | DoubleVerify Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120783 | &nbsp;&nbsp;&nbsp;&nbsp;1273 |
| <sup>\*</sup> | Yelp Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54050 | &nbsp;&nbsp;&nbsp;&nbsp;1205 |
| <sup>\*</sup> | Cars.com Inc. | &nbsp;&nbsp;&nbsp;&nbsp;122552 | &nbsp;&nbsp;&nbsp;&nbsp;1047 |
| <sup>\*</sup> | Cable One Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977 |
|  | Cogent Communications Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903 |
|  | Shutterstock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892 |
| <sup>\*</sup> | Angi Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613 |
| <sup>\*</sup> | QuinStreet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 |
|  |  |  | &nbsp;&nbsp;**64486** |
| **Consumer Discretionary (17.4%)** | **Consumer Discretionary (17.4%)** | **Consumer Discretionary (17.4%)** | **Consumer Discretionary (17.4%)** |
|  | LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;563573 | &nbsp;&nbsp;18660 |
| <sup>\*</sup> | Mohawk Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;114336 | &nbsp;&nbsp;14323 |
| <sup>\*</sup> | CarMax Inc. | &nbsp;&nbsp;&nbsp;&nbsp;323315 | &nbsp;&nbsp;13957 |
|  | Meritage Homes Corp. | &nbsp;&nbsp;&nbsp;&nbsp;155016 | &nbsp;&nbsp;11691 |
| <sup>\*</sup> | Caesars Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;449396 | &nbsp;&nbsp;11257 |
| <sup>\*</sup> | Victoria's Secret & Co. | &nbsp;&nbsp;&nbsp;&nbsp;176503 | &nbsp;&nbsp;11067 |
| <sup>\*</sup> | Asbury Automotive Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42804 | &nbsp;&nbsp;&nbsp;&nbsp;9151 |
|  | Group 1 Automotive Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27236 | &nbsp;&nbsp;&nbsp;&nbsp;8872 |
|  | Academy Sports & Outdoors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;146691 | &nbsp;&nbsp;&nbsp;&nbsp;8821 |
| <sup>\*</sup> | Tri Pointe Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;189243 | &nbsp;&nbsp;&nbsp;&nbsp;8762 |
| <sup>\*</sup> | M/I Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57573 | &nbsp;&nbsp;&nbsp;&nbsp;8185 |
| <sup>\*</sup> | Stride Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95296 | &nbsp;&nbsp;&nbsp;&nbsp;8041 |
|  | LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53278 | &nbsp;&nbsp;&nbsp;&nbsp;7097 |
|  | Advance Auto Parts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;132153 | &nbsp;&nbsp;&nbsp;&nbsp;7027 |
|  | Signet Jewelers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72160 | &nbsp;&nbsp;&nbsp;&nbsp;6941 |
| <sup>\*</sup> | Champion Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66412 | &nbsp;&nbsp;&nbsp;&nbsp;6208 |
|  | Phinia Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84641 | &nbsp;&nbsp;&nbsp;&nbsp;6147 |
|  | ADT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;749509 | &nbsp;&nbsp;&nbsp;&nbsp;6011 |
|  | Patrick Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40296 | &nbsp;&nbsp;&nbsp;&nbsp;4988 |
|  | American Eagle Outfitters Inc. | &nbsp;&nbsp;&nbsp;&nbsp;201112 | &nbsp;&nbsp;&nbsp;&nbsp;4941 |
|  | Dana Inc. | &nbsp;&nbsp;&nbsp;&nbsp;131195 | &nbsp;&nbsp;&nbsp;&nbsp;4492 |
| <sup>\*</sup> | Penn Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;281257 | &nbsp;&nbsp;&nbsp;&nbsp;4399 |
| <sup>\*</sup> | Adient plc | &nbsp;&nbsp;&nbsp;&nbsp;174377 | &nbsp;&nbsp;&nbsp;&nbsp;4241 |
|  | Strategic Education Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51171 | &nbsp;&nbsp;&nbsp;&nbsp;4210 |
|  | Newell Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;922950 | &nbsp;&nbsp;&nbsp;&nbsp;4199 |
|  | Kohl's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;246760 | &nbsp;&nbsp;&nbsp;&nbsp;4039 |
|  | Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60968 | &nbsp;&nbsp;&nbsp;&nbsp;3964 |
|  | Century Communities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56281 | &nbsp;&nbsp;&nbsp;&nbsp;3784 |
|  | Leggett & Platt Inc. | &nbsp;&nbsp;&nbsp;&nbsp;298193 | &nbsp;&nbsp;&nbsp;&nbsp;3483 |
| <sup>\*</sup> | Sally Beauty Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;214664 | &nbsp;&nbsp;&nbsp;&nbsp;3450 |
| <sup>\*</sup> | Dauch Corp. | &nbsp;&nbsp;&nbsp;&nbsp;516736 | &nbsp;&nbsp;&nbsp;&nbsp;3410 |
|  | Kontoor Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51801 | &nbsp;&nbsp;&nbsp;&nbsp;3378 |
|  | La-Z-Boy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90726 | &nbsp;&nbsp;&nbsp;&nbsp;3241 |
|  | Wolverine World Wide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;180474 | &nbsp;&nbsp;&nbsp;&nbsp;3189 |
| <sup>\*</sup> | Under Armour Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;415850 | &nbsp;&nbsp;&nbsp;&nbsp;3086 |
| <sup>1</sup> | Cheesecake Factory Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47452 | &nbsp;&nbsp;&nbsp;&nbsp;3074 |
|  | Carter's Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80247 | &nbsp;&nbsp;&nbsp;&nbsp;2692 |

---

------

S&P Small-Cap 600 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Wendy's Co. | &nbsp;&nbsp;347816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664 |
|  | Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541 |
|  | G-III Apparel Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;81789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502 |
|  | Winnebago Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2477 |
|  | Upbound Group Inc. | &nbsp;&nbsp;114739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 |
| <sup>\*</sup> | LGI Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2321 |
| <sup>\*</sup> | Green Brick Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2127 |
| <sup>\*</sup> | Six Flags Entertainment Corp. | &nbsp;&nbsp;122879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093 |
|  | Sonic Automotive Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;32663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049 |
| <sup>\*</sup> | Under Armour Inc. Class C | &nbsp;&nbsp;260503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1883 |
|  | Standard Motor Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826 |
|  | Matthews International Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;67799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792 |
| <sup>\*</sup> | Pursuit Attractions & Hospitality Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645 |
| <sup>1</sup> | Cracker Barrel Old Country Store Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604 |
| <sup>\*</sup> | Callaway Golf Co. | &nbsp;&nbsp;110792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1558 |
|  | Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554 |
| <sup>\*</sup> | Fox Factory Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;92045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550 |
| <sup>\*</sup> | Mister Car Wash Inc. | &nbsp;&nbsp;216415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541 |
|  | Monro Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423 |
|  | Buckle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421 |
|  | Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277 |
| <sup>\*</sup> | MarineMax Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269 |
|  | Golden Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250 |
| <sup>\*</sup> | Gentherm Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234 |
|  | Oxford Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219 |
|  | Papa John's International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 |
|  | Ethan Allen Interiors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162 |
| <sup>\*</sup> | Dream Finders Homes Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;63276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143 |
|  | Bloomin' Brands Inc. | &nbsp;&nbsp;168989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034 |
| <sup>\*</sup> | Sabre Corp. | &nbsp;&nbsp;868642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025 |
| <sup>\*</sup> | United Parks & Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983 |
| <sup>\*</sup> | BJ's Restaurants Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971 |
| <sup>\*</sup> | Dave & Buster's Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876 |
|  |  |  | &nbsp;&nbsp;**298153** |
| **Consumer Staples (2.7%)** | **Consumer Staples (2.7%)** | **Consumer Staples (2.7%)** | **Consumer Staples (2.7%)** |
| <sup>\*</sup> | United Natural Foods Inc. | &nbsp;&nbsp;133541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5103 |
|  | Andersons Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4829 |
| <sup>\*</sup> | Central Garden & Pet Co. Class A | &nbsp;&nbsp;113618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3924 |
| <sup>\*</sup> | Simply Good Foods Co. | &nbsp;&nbsp;202271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3451 |
| <sup>\*</sup> | Freshpet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3358 |
|  | Fresh Del Monte Produce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3116 |
|  | J & J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985 |
|  | Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948 |
|  | WD-40 Co. | &nbsp;&nbsp;&nbsp;&nbsp;12212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909 |
|  | Energizer Holdings Inc. | &nbsp;&nbsp;133775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2888 |
|  | Edgewell Personal Care Co. | &nbsp;&nbsp;102297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2326 |
| <sup>\*</sup> | Grocery Outlet Holding Corp. | &nbsp;&nbsp;216063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135 |
|  | Interparfums Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744 |
|  | John B Sanfilippo & Son Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646 |
|  | Reynolds Consumer Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643 |
| <sup>\*</sup> | National Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 |
| <sup>\*</sup> | Central Garden & Pet Co. | &nbsp;&nbsp;&nbsp;&nbsp;17876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**46642** |
| **Energy (7.2%)** | **Energy (7.2%)** | **Energy (7.2%)** | **Energy (7.2%)** |
|  | SM Energy Co. | &nbsp;&nbsp;498327 | &nbsp;&nbsp;&nbsp;&nbsp;11526 |
|  | Magnolia Oil & Gas Corp. Class A | &nbsp;&nbsp;403264 | &nbsp;&nbsp;&nbsp;&nbsp;11219 |
|  | California Resources Corp. | &nbsp;&nbsp;172930 | &nbsp;&nbsp;&nbsp;&nbsp;10175 |
|  | Liberty Energy Inc. Class A | &nbsp;&nbsp;356611 | &nbsp;&nbsp;&nbsp;&nbsp;10017 |
|  | Core Natural Resources Inc. | &nbsp;&nbsp;112816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9260 |
|  | Peabody Energy Corp. | &nbsp;&nbsp;267735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8444 |
|  | Patterson-UTI Energy Inc. | &nbsp;&nbsp;759826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6466 |
|  | Crescent Energy Co. Class A | &nbsp;&nbsp;532287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6207 |
|  | Northern Oil & Gas Inc. | &nbsp;&nbsp;213876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5901 |
|  | Noble Corp. plc | &nbsp;&nbsp;129856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5899 |
|  | Helmerich & Payne Inc. | &nbsp;&nbsp;111657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 |
| <sup>\*</sup> | Talos Energy Inc. | &nbsp;&nbsp;276962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3393 |
| <sup>\*</sup> | Oceaneering International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197 |
|  | World Kinect Corp. | &nbsp;&nbsp;122327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3052 |
|  | Cactus Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;56079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3028 |

---

------

S&P Small-Cap 600 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Dorian LPG Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;81115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001 |
| <sup>\*</sup> | Helix Energy Solutions Group Inc. | &nbsp;&nbsp;301154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768 |
| <sup>\*</sup> | Bristow Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;55395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642 |
| <sup>\*</sup> | Par Pacific Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2457 |
| <sup>1</sup> | Kinetik Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;52048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2368 |
|  | Core Laboratories Inc. | &nbsp;&nbsp;102527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804 |
|  | Atlas Energy Solutions Inc. | &nbsp;&nbsp;169271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630 |
| <sup>\*</sup> | Comstock Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435 |
| <sup>\*</sup> | Innovex International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299 |
|  | RPC Inc. | &nbsp;&nbsp;195907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138 |
| <sup>\*</sup> | CVR Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834 |
| <sup>\*</sup> | REX American Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689 |
|  |  |  | &nbsp;&nbsp;**123782** |
| **Financials (21.1%)** | **Financials (21.1%)** | **Financials (21.1%)** | **Financials (21.1%)** |
|  | Jackson Financial Inc. Class A | &nbsp;&nbsp;149654 | &nbsp;&nbsp;&nbsp;&nbsp;16384 |
|  | Lincoln National Corp. | &nbsp;&nbsp;372199 | &nbsp;&nbsp;&nbsp;&nbsp;12766 |
|  | Atlantic Union Bankshares Corp. | &nbsp;&nbsp;313793 | &nbsp;&nbsp;&nbsp;&nbsp;11629 |
|  | United Community Banks Inc. | &nbsp;&nbsp;267641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8610 |
|  | Fulton Financial Corp. | &nbsp;&nbsp;397623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8131 |
|  | Renasant Corp. | &nbsp;&nbsp;209214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7877 |
|  | Cathay General Bancorp | &nbsp;&nbsp;149800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7447 |
| <sup>\*</sup> | Genworth Financial Inc. Class A | &nbsp;&nbsp;879332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7422 |
|  | MarketAxess Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7228 |
|  | Bread Financial Holdings Inc. | &nbsp;&nbsp;100534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7124 |
|  | First Interstate BancSystem Inc. Class A | &nbsp;&nbsp;197088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6821 |
|  | First Hawaiian Inc. | &nbsp;&nbsp;272397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6745 |
|  | Western Union Co. | &nbsp;&nbsp;699805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6739 |
|  | Blackstone Mortgage Trust Inc. Class A | &nbsp;&nbsp;347138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6669 |
|  | Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;87596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6637 |
|  | First Financial Bancorp | &nbsp;&nbsp;227806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6394 |
|  | Simmons First National Corp. Class A | &nbsp;&nbsp;318619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6344 |
|  | Provident Financial Services Inc. | &nbsp;&nbsp;287596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6051 |
|  | HA Sustainable Infrastructure Capital Inc. | &nbsp;&nbsp;158230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5779 |
|  | Beacon Financial Corp. | &nbsp;&nbsp;184747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5494 |
|  | Banc of California Inc. | &nbsp;&nbsp;295559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5459 |
|  | CVB Financial Corp. | &nbsp;&nbsp;283141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5445 |
|  | WaFd Inc. | &nbsp;&nbsp;173476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5405 |
|  | Radian Group Inc. | &nbsp;&nbsp;149156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5149 |
|  | Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;&nbsp;16850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4980 |
|  | NBT Bancorp Inc. | &nbsp;&nbsp;115183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4921 |
|  | Independent Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858 |
|  | Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;60561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4703 |
|  | ServisFirst Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4482 |
|  | Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417 |
|  | Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4380 |
|  | Moelis & Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;70058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4159 |
|  | BankUnited Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4095 |
|  | Northwest Bancshares Inc. | &nbsp;&nbsp;321651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4005 |
|  | First Commonwealth Financial Corp. | &nbsp;&nbsp;227714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3992 |
|  | Assured Guaranty Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3947 |
|  | WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593 |
|  | Hilltop Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3538 |
|  | S&T Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3518 |
|  | Seacoast Banking Corp. of Florida | &nbsp;&nbsp;113045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3518 |
|  | Walker & Dunlop Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3451 |
|  | Community Financial System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440 |
|  | Arbor Realty Trust Inc. | &nbsp;&nbsp;430894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3417 |
| <sup>\*</sup> | Encore Capital Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3353 |
|  | National Bank Holdings Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;83268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3330 |
|  | Hope Bancorp Inc. | &nbsp;&nbsp;282204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3178 |
|  | BGC Group Inc. Class A | &nbsp;&nbsp;324347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3088 |
|  | First Bancorp | &nbsp;&nbsp;145091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066 |
|  | PROG Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066 |
|  | Apollo Commercial Real Estate Finance Inc. | &nbsp;&nbsp;287589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048 |
|  | Dime Community Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2907 |
|  | First Bancorp (XNGS) | &nbsp;&nbsp;&nbsp;&nbsp;51127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2903 |
|  | Artisan Partners Asset Management Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;71363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2874 |
|  | Trustmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;67327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2867 |
| <sup>\*</sup> | Triumph Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776 |

---

------

S&P Small-Cap 600 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | NCR Atleos Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2738 |
|  | Merchants Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;64662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734 |
|  | FB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2722 |
|  | Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2644 |
|  | Victory Capital Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;37030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562 |
| <sup>\*</sup> | Customers Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2406 |
|  | Two Harbors Investment Corp. | &nbsp;&nbsp;229322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 |
|  | Cohen & Steers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190 |
|  | OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;54194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172 |
|  | Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2145 |
|  | Stellar Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 |
|  | Employers Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2046 |
|  | Heritage Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;74759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974 |
|  | Southside Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1949 |
|  | Virtus Investment Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1934 |
|  | Capitol Federal Financial Inc. | &nbsp;&nbsp;267785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1923 |
|  | Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881 |
|  | Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1871 |
|  | BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852 |
|  | Hanmi Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707 |
|  | Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698 |
|  | Redwood Trust Inc. | &nbsp;&nbsp;278954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1688 |
|  | Franklin BSP Realty Trust Inc. | &nbsp;&nbsp;179701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641 |
| <sup>\*</sup> | Donnelley Financial Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1599 |
|  | Westamerica Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;31295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1585 |
|  | Eagle Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1549 |
| <sup>\*</sup> | ProAssurance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;55488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362 |
| <sup>\*</sup> | PRA Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;85954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354 |
|  | Navient Corp. | &nbsp;&nbsp;148185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303 |
|  | Safety Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248 |
|  | Enact Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1198 |
|  | City Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180 |
|  | TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003 |
|  | United Fire Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957 |
| <sup>\*</sup> | Goosehead Insurance Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;17565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 |
| <sup>\*</sup> | Payoneer Global Inc. | &nbsp;&nbsp;215933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 |
|  | KKR Real Estate Finance Trust Inc. | &nbsp;&nbsp;119570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 |
|  | AMERISAFE Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 |
| <sup>\*</sup> | Trupanion Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669 |
| <sup>\*</sup> | World Acceptance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 |
|  |  |  | &nbsp;&nbsp;**361340** |
| **Health Care (6.9%)** | **Health Care (6.9%)** | **Health Care (6.9%)** | **Health Care (6.9%)** |
|  | Teleflex Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97303 | &nbsp;&nbsp;&nbsp;&nbsp;11877 |
| <sup>\*</sup> | Prestige Consumer Healthcare Inc. | &nbsp;&nbsp;105869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7337 |
| <sup>\*</sup> | Integer Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;77144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6687 |
| <sup>\*</sup> | Neogen Corp. | &nbsp;&nbsp;478437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5373 |
| <sup>\*</sup> | Acadia Healthcare Co. Inc. | &nbsp;&nbsp;203126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4761 |
| <sup>\*</sup> | Glaukos Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4720 |
| <sup>\*</sup> | ICU Medical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4256 |
|  | Organon & Co. | &nbsp;&nbsp;572411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4173 |
| <sup>\*</sup> | Omnicell Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4061 |
|  | Perrigo Co. plc | &nbsp;&nbsp;303003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4006 |
| <sup>\*</sup> | RadNet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3842 |
| <sup>\*</sup> | Merit Medical Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3728 |
|  | Select Medical Holdings Corp. | &nbsp;&nbsp;242611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632 |
| <sup>\*</sup> | QuidelOrtho Corp. | &nbsp;&nbsp;149567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3401 |
| <sup>\*</sup> | Enovis Corp. | &nbsp;&nbsp;125911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3207 |
|  | Concentra Group Holdings Parent Inc. | &nbsp;&nbsp;131211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3144 |
|  | CONMED Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3136 |
| <sup>\*</sup> | Fortrea Holdings Inc. | &nbsp;&nbsp;203441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2181 |
| <sup>\*</sup> | AdaptHealth Corp. Class A | &nbsp;&nbsp;236273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162 |
| <sup>\*</sup> | Supernus Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142 |
| <sup>\*</sup> | Amneal Pharmaceuticals Inc. | &nbsp;&nbsp;149508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065 |
| <sup>\*</sup> | Xencor Inc. | &nbsp;&nbsp;157219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008 |
| <sup>\*</sup> | Astrana Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931 |
| <sup>\*</sup> | Integra LifeSciences Holdings Corp. | &nbsp;&nbsp;147504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 |
| <sup>\*</sup> | Tandem Diabetes Care Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662 |
| <sup>\*</sup> | AMN Healthcare Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648 |
| <sup>\*</sup> | Sarepta Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508 |

---

------

S&P Small-Cap 600 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | Innoviva Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472 |
|  | US Physical Therapy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472 |
| <sup>\*</sup> | Avanos Medical Inc. | &nbsp;&nbsp;102232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441 |
| <sup>\*</sup> | Arcus Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417 |
| <sup>\*</sup> | Addus HomeCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414 |
| <sup>\*</sup> | CorVel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1349 |
|  | Embecta Corp. | &nbsp;&nbsp;128818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322 |
| <sup>\*</sup> | NeoGenomics Inc. | &nbsp;&nbsp;119713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177 |
| <sup>\*</sup> | Vir Biotechnology Inc. | &nbsp;&nbsp;122969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118 |
| <sup>\*</sup> | STAAR Surgical Co. | &nbsp;&nbsp;&nbsp;&nbsp;52608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047 |
| <sup>\*</sup> | BioLife Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038 |
| <sup>\*</sup> | Azenta Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 |
| <sup>\*</sup> | Certara Inc. | &nbsp;&nbsp;128754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911 |
| <sup>\*</sup> | Amphastar Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 |
|  | HealthStream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 |
| <sup>\*</sup> | Myriad Genetics Inc. | &nbsp;&nbsp;116875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 |
| <sup>\*</sup> | Cytek Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 |
|  |  |  | &nbsp;&nbsp;**118692** |
| **Industrials (13.8%)** | **Industrials (13.8%)** | **Industrials (13.8%)** | **Industrials (13.8%)** |
|  | Matson Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68651 | &nbsp;&nbsp;&nbsp;&nbsp;11405 |
| <sup>\*</sup> | Amentum Holdings Inc. | &nbsp;&nbsp;337527 | &nbsp;&nbsp;&nbsp;&nbsp;10082 |
|  | Rush Enterprises Inc. Class A | &nbsp;&nbsp;133523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9476 |
|  | Korn Ferry | &nbsp;&nbsp;115355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7229 |
| <sup>\*</sup> | Gates Industrial Corp. plc | &nbsp;&nbsp;261589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7212 |
|  | HNI Corp. | &nbsp;&nbsp;151614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6817 |
|  | Kennametal Inc. | &nbsp;&nbsp;167539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6748 |
|  | Boise Cascade Co. | &nbsp;&nbsp;&nbsp;&nbsp;81558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6748 |
|  | Air Lease Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;99466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6449 |
|  | Trinity Industries Inc. | &nbsp;&nbsp;176536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6034 |
|  | ABM Industries Inc. | &nbsp;&nbsp;134822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 |
| <sup>\*</sup> | RXO Inc. | &nbsp;&nbsp;361333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5767 |
|  | Hub Group Inc. Class A | &nbsp;&nbsp;133378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5745 |
|  | Robert Half Inc. | &nbsp;&nbsp;219150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5352 |
| <sup>\*</sup> | Resideo Technologies Inc. | &nbsp;&nbsp;133438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5164 |
|  | ArcBest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5088 |
|  | Alamo Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5069 |
| <sup>\*</sup> | DNOW Inc. | &nbsp;&nbsp;408781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4815 |
|  | Werner Enterprises Inc. | &nbsp;&nbsp;131726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4622 |
|  | CSW Industrials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4542 |
| <sup>\*</sup> | GEO Group Inc. | &nbsp;&nbsp;301031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4528 |
|  | UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4443 |
|  | Kadant Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4310 |
|  | Arcosa Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4178 |
| <sup>\*</sup> | CoreCivic Inc. | &nbsp;&nbsp;230272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4071 |
|  | Greenbrier Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3846 |
|  | Franklin Electric Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3778 |
| <sup>\*</sup> | Hayward Holdings Inc. | &nbsp;&nbsp;228428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3655 |
|  | Albany International Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;63189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643 |
|  | Mueller Water Products Inc. Class A | &nbsp;&nbsp;120473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3606 |
| <sup>\*</sup> | JetBlue Airways Corp. | &nbsp;&nbsp;640627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3549 |
|  | WillScot Holdings Corp. | &nbsp;&nbsp;163286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 |
| <sup>\*</sup> | SkyWest Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492 |
|  | Lindsay Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3204 |
|  | Schneider National Inc. Class B | &nbsp;&nbsp;109699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3113 |
|  | MillerKnoll Inc. | &nbsp;&nbsp;150852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3038 |
| <sup>\*</sup> | Allegiant Travel Co. | &nbsp;&nbsp;&nbsp;&nbsp;29628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3027 |
|  | Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3009 |
| <sup>\*</sup> | Gibraltar Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958 |
|  | ManpowerGroup Inc. | &nbsp;&nbsp;101932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2851 |
| <sup>\*</sup> | Masterbrand Inc. | &nbsp;&nbsp;279132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825 |
|  | Deluxe Corp. | &nbsp;&nbsp;&nbsp;&nbsp;99097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750 |
| <sup>\*</sup> | Sun Country Airlines Holdings Inc. | &nbsp;&nbsp;116063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284 |
|  | Worthington Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084 |
|  | Quanex Building Products Corp. | &nbsp;&nbsp;100432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2062 |
| <sup>\*</sup> | Vestis Corp. | &nbsp;&nbsp;246732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942 |
|  | Enerpac Tool Group Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;46661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904 |
|  | Apogee Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 |
|  | Pitney Bowes Inc. | &nbsp;&nbsp;172762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854 |
|  | Interface Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;56572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781 |

---

------

S&P Small-Cap 600 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Insperity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 |
|  | Marten Transport Ltd. | &nbsp;&nbsp;127448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 |
|  | Astec Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626 |
| <sup>\*</sup> | American Woodmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607 |
|  | Insteel Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594 |
|  | Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;22755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389 |
| <sup>\*</sup> | Forward Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236 |
|  | Heartland Express Inc. | &nbsp;&nbsp;100671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110 |
| <sup>\*</sup> | Titan International Inc. | &nbsp;&nbsp;105508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027 |
| <sup>\*</sup> | Legalzoom.com Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392 |
| <sup>\*,1</sup> | Hertz Global Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 |
|  |  |  | &nbsp;&nbsp;**237415** |
| **Information Technology (9.1%)** | **Information Technology (9.1%)** | **Information Technology (9.1%)** | **Information Technology (9.1%)** |
| <sup>\*</sup> | Enphase Energy Inc. | &nbsp;&nbsp;288122 | &nbsp;&nbsp;&nbsp;&nbsp;12179 |
|  | Kulicke & Soffa Industries Inc. | &nbsp;&nbsp;114811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8005 |
| <sup>\*</sup> | Diodes Inc. | &nbsp;&nbsp;102127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6968 |
| <sup>\*</sup> | Plexus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6460 |
| <sup>\*</sup> | Ultra Clean Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;99931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6064 |
|  | Power Integrations Inc. | &nbsp;&nbsp;121834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5838 |
| <sup>\*</sup> | Insight Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5699 |
| <sup>\*</sup> | Qorvo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5678 |
|  | Ralliant Corp. | &nbsp;&nbsp;119217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5471 |
| <sup>\*</sup> | Semtech Corp. | &nbsp;&nbsp;&nbsp;&nbsp;57317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5171 |
|  | Vishay Intertechnology Inc. | &nbsp;&nbsp;271891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5090 |
| <sup>\*</sup> | Photronics Inc. | &nbsp;&nbsp;129913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4863 |
| <sup>\*</sup> | DXC Technology Co. | &nbsp;&nbsp;383407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4827 |
|  | Benchmark Electronics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4541 |
| <sup>\*</sup> | Rogers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3971 |
| <sup>\*</sup> | Ichor Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;75704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 |
| <sup>\*</sup> | Itron Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3411 |
| <sup>\*,1</sup> | MARA Holdings Inc. | &nbsp;&nbsp;374698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3350 |
| <sup>\*</sup> | Cohu Inc. | &nbsp;&nbsp;102803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105 |
| <sup>\*</sup> | ACI Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062 |
| <sup>\*</sup> | Teradata Corp. | &nbsp;&nbsp;&nbsp;&nbsp;88239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 |
| <sup>\*</sup> | Box Inc. Class A | &nbsp;&nbsp;111657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2629 |
| <sup>\*</sup> | Harmonic Inc. | &nbsp;&nbsp;247099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2627 |
| <sup>\*</sup> | Cleanspark Inc. | &nbsp;&nbsp;259927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586 |
| <sup>\*</sup> | RingCentral Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;69294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526 |
| <sup>\*</sup> | Q2 Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451 |
| <sup>\*</sup> | NCR Voyix Corp. | &nbsp;&nbsp;304932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330 |
| <sup>\*</sup> | Alarm.com Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207 |
| <sup>\*</sup> | Knowles Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190 |
| <sup>\*</sup> | NetScout Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073 |
| <sup>\*</sup> | Axcelis Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030 |
| <sup>\*</sup> | Veeco Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983 |
| <sup>\*,1</sup> | SolarEdge Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911 |
|  | CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 |
| <sup>\*</sup> | SPS Commerce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1877 |
| <sup>\*</sup> | MaxLinear Inc. Class A | &nbsp;&nbsp;103076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797 |
|  | ePlus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721 |
| <sup>\*</sup> | ScanSource Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635 |
|  | PC Connection Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525 |
| <sup>\*</sup> | Extreme Networks Inc. | &nbsp;&nbsp;103073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441 |
| <sup>\*</sup> | Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267 |
| <sup>\*</sup> | Alpha & Omega Semiconductor Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;54965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155 |
| <sup>\*</sup> | Penguin Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123 |
|  | A10 Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 |
| <sup>\*</sup> | Grid Dynamics Holdings Inc. | &nbsp;&nbsp;145509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982 |
| <sup>\*</sup> | Corsair Gaming Inc. | &nbsp;&nbsp;103150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566 |
| <sup>\*</sup> | N-able Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353 |
|  |  |  | &nbsp;&nbsp;**156038** |
| **Materials (7.9%)** | **Materials (7.9%)** | **Materials (7.9%)** | **Materials (7.9%)** |
|  | Eastman Chemical Co. | &nbsp;&nbsp;251152 | &nbsp;&nbsp;&nbsp;&nbsp;18963 |
|  | Solstice Advanced Materials Inc. | &nbsp;&nbsp;164256 | &nbsp;&nbsp;&nbsp;&nbsp;12896 |
|  | Celanese Corp. | &nbsp;&nbsp;241103 | &nbsp;&nbsp;&nbsp;&nbsp;12041 |
|  | Element Solutions Inc. | &nbsp;&nbsp;250429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8787 |
|  | HB Fuller Co. | &nbsp;&nbsp;119090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7827 |
|  | Chemours Co. | &nbsp;&nbsp;330022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6020 |
|  | Warrior Met Coal Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5492 |

---

------

S&P Small-Cap 600 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;129573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5426 |
|  | Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5304 |
|  | Minerals Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4841 |
|  | Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 |
| <sup>\*</sup> | O-I Glass Inc. | &nbsp;&nbsp;&nbsp;&nbsp;338176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4532 |
|  | Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435 |
|  | Innospec Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4178 |
|  | FMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;275030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4054 |
| <sup>\*</sup> | Alpha Metallurgical Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3868 |
|  | Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3377 |
|  | Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3349 |
|  | Worthington Steel Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2977 |
| <sup>\*</sup> | Ingevity Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2452 |
|  | Stepan Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2407 |
| <sup>\*</sup> | Century Aluminum Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2356 |
|  | Hawkins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263 |
|  | Koppers Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633 |
| <sup>\*</sup> | Metallus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341 |
|  | SunCoke Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;186547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063 |
|  |  |  | &nbsp;&nbsp;**136482** |
| **Real Estate (7.2%)** | **Real Estate (7.2%)** | **Real Estate (7.2%)** | **Real Estate (7.2%)** |
| <sup>\*</sup> | Cushman & Wakefield Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;509931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6838 |
| <sup>1</sup> | Medical Properties Trust Inc. | &nbsp;&nbsp;1085950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6255 |
|  | Acadia Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;288511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6036 |
|  | Apple Hospitality REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;484410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5939 |
|  | SL Green Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;156379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5763 |
|  | Macerich Co. | &nbsp;&nbsp;&nbsp;&nbsp;270676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5541 |
|  | Highwoods Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;241954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5442 |
|  | Essential Properties Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;143975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4886 |
|  | Phillips Edison & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;116341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4570 |
|  | Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4512 |
|  | Millrose Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4365 |
|  | Global Net Lease Inc. | &nbsp;&nbsp;&nbsp;&nbsp;434076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4089 |
|  | Sunstone Hotel Investors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;418114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3880 |
|  | Douglas Emmett Inc. | &nbsp;&nbsp;&nbsp;&nbsp;368693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3646 |
|  | Innovative Industrial Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3268 |
|  | Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;250110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209 |
|  | Tanger Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3194 |
|  | Four Corners Property Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3159 |
|  | Urban Edge Properties | &nbsp;&nbsp;&nbsp;&nbsp;144092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062 |
|  | LXP Industrial Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3034 |
|  | Outfront Media Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953 |
|  | Kennedy-Wilson Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;264140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2874 |
|  | DiamondRock Hospitality Co. | &nbsp;&nbsp;&nbsp;&nbsp;228745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297 |
|  | Easterly Government Properties Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243 |
|  | American Assets Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;103971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029 |
|  | Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1919 |
|  | Veris Residential Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854 |
|  | Alexander & Baldwin Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 |
|  | Xenia Hotels & Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722 |
|  | LTC Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1664 |
|  | Safehold Inc. | &nbsp;&nbsp;&nbsp;&nbsp;101129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632 |
|  | Marcus & Millichap Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403 |
|  | eXp World Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;199391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390 |
|  | Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204 |
|  | Armada Hoffler Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;176593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104 |
|  | Summit Hotel Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;233332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052 |
|  | JBG SMITH Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 |
|  | Whitestone REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 |
|  | NexPoint Residential Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 |
|  | Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502 |
|  | Saul Centers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 |
|  |  |  | &nbsp;&nbsp;**122945** |
| **Utilities (2.6%)** | **Utilities (2.6%)** | **Utilities (2.6%)** | **Utilities (2.6%)** |
|  | MDU Resources Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;449886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9304 |
| <sup>\*</sup> | Hawaiian Electric Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;380068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5887 |
|  | Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4319 |
|  | H2O America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3943 |
|  | Avista Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3857 |

---

------

S&P Small-Cap 600 Value Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | MGE Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 |
|  | California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp;68221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3076 |
|  | Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832 |
|  | Northwest Natural Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;42951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278 |
|  | American States Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;29832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223 |
|  | Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063 |
|  | Middlesex Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;18587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**44086** |
| **Total Common Stocks (Cost $1,602,222)** | **Total Common Stocks (Cost $1,602,222)** | **Total Common Stocks (Cost $1,602,222)** | **1710061** |
| **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** |
| **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** |
| <sup>2,3</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $11,344)** | &nbsp;&nbsp;113457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11344** |
| **Total Investments (100.4%) (Cost $1,613,566)** | **Total Investments (100.4%) (Cost $1,613,566)** |  | &nbsp;&nbsp;**1721405** |
| **Other Assets and Liabilities—Net (-0.4%)** | **Other Assets and Liabilities—Net (-0.4%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6767)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**1714638** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $6,483. |
| 2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 3 | Collateral of $6,772 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini Russell 2000 Index | March 2026 | 16 | 2108 | &nbsp;&nbsp;(20) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| Signet Jewelers Ltd. | 8/31/2026 | BANA | 1769 | (3.640) |  | (37) |
| WillScot Holdings Corp. | 8/31/2026 | BANA | &nbsp;&nbsp;&nbsp;&nbsp;634 | (3.640) |  | &nbsp;&nbsp;&nbsp;(8) |
|  |  |  |  |  |  | (45) |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> BANA—Bank of America, N.A.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Value Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $1,602,222) | 1710061 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $11,344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11344 |
| Total Investments in Securities | 1721405 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 |
| **Total Assets** | **1723165** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6772 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8527** |
| **Net Assets** | **1714638** |
| 1 Includes $6,483 of securities on loan. |  |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 1953667 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;(239029) |
| **Net Assets** | **1714638** |
| **ETF Shares—Net Assets** |  |
| **Applicable to 15,252,512 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1610740** |
| **Net Asset Value Per Share—ETF Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$105.60** |
| **Institutional Shares—Net Assets** |  |
| **Applicable to 235,012 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;&nbsp;&nbsp;**103898** |
| **Net Asset Value Per Share—Institutional Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**$442.10** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Value Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11937 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12068 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Shareholders' Reports—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| Shareholders' Reports—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11325** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124582 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**125288** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55014 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**54846** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**191459** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $11. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $74, $2, and ($1), respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $182,179 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Value Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23577 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;125288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85192 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47478) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;191459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61291 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;(15915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23412) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(725) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(16315) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24137) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42664) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22389) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;111566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65053) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;286710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27899) |
| **Net Assets** |  |  |
| **Beginning of Period** | **1427928** | &nbsp;&nbsp;&nbsp;**1455827** |
| **End of Period** | **1714638** | &nbsp;&nbsp;&nbsp;**1427928** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Value Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023<sup>1</sup> | &nbsp;&nbsp;&nbsp;2022<sup>1</sup> | &nbsp;&nbsp;&nbsp;2021<sup>1</sup> |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;**$94.36** | &nbsp;&nbsp;&nbsp;**$92.26** | &nbsp;&nbsp;&nbsp;**$82.73** | &nbsp;&nbsp;&nbsp;**$80.11** | &nbsp;&nbsp;&nbsp;**$88.82** | &nbsp;&nbsp;&nbsp;**$56.26** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.296 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;11.570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.600 | &nbsp;&nbsp;&nbsp;&nbsp;(8.648) | &nbsp;&nbsp;&nbsp;&nbsp;32.307 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;12.307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.674 | &nbsp;&nbsp;&nbsp;&nbsp;11.313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.129 | &nbsp;&nbsp;&nbsp;&nbsp;(7.276) | &nbsp;&nbsp;&nbsp;&nbsp;33.603 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(1.067) | &nbsp;&nbsp;&nbsp;&nbsp;(1.574) | &nbsp;&nbsp;&nbsp;&nbsp;(1.783) | &nbsp;&nbsp;&nbsp;&nbsp;(1.509) | &nbsp;&nbsp;&nbsp;&nbsp;(1.434) | &nbsp;&nbsp;&nbsp;&nbsp;(1.043) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(1.067) | &nbsp;&nbsp;&nbsp;&nbsp;(1.574) | &nbsp;&nbsp;&nbsp;&nbsp;(1.783) | &nbsp;&nbsp;&nbsp;&nbsp;(1.509) | &nbsp;&nbsp;&nbsp;&nbsp;(1.434) | &nbsp;&nbsp;&nbsp;&nbsp;(1.043) |
| **Net Asset Value, End of Period** | **$105.60** | &nbsp;&nbsp;&nbsp;**$94.36** | &nbsp;&nbsp;&nbsp;**$92.26** | &nbsp;&nbsp;&nbsp;**$82.73** | &nbsp;&nbsp;&nbsp;**$80.11** | &nbsp;&nbsp;&nbsp;**$88.82** |
| **Total Return** | **13.14%** | &nbsp;&nbsp;&nbsp;**4.07%** | &nbsp;&nbsp;&nbsp;**13.93%** | &nbsp;&nbsp;&nbsp;**5.29%** | &nbsp;&nbsp;&nbsp;**-8.28%** | &nbsp;&nbsp;&nbsp;**60.19%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $1611 | &nbsp;&nbsp;&nbsp;$1394 | &nbsp;&nbsp;&nbsp;$1400 | &nbsp;&nbsp;&nbsp;$1278 | &nbsp;&nbsp;&nbsp;$1250 | &nbsp;&nbsp;&nbsp;$1328 |
| Ratio of Total Expenses to Average Net Assets | 0.10% | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% |
| Ratio of Net Investment Income to Average Net Assets | 1.72% | &nbsp;&nbsp;&nbsp;1.72% | &nbsp;&nbsp;&nbsp;2.05% | &nbsp;&nbsp;&nbsp;1.89% | &nbsp;&nbsp;&nbsp;1.59% | &nbsp;&nbsp;&nbsp;1.61% |
| Portfolio Turnover Rate<sup>3</sup> | 37% | &nbsp;&nbsp;&nbsp;47% | &nbsp;&nbsp;&nbsp;52% | &nbsp;&nbsp;&nbsp;45% | &nbsp;&nbsp;&nbsp;36% | &nbsp;&nbsp;&nbsp;30% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

1 Adjusted to reflect a 2-for-1 share split effective March 13, 2023. <br> 2 Calculated based on average shares outstanding. <br> 3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Value Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 |
| **Net Asset Value, Beginning of Period** | **$395.00** | &nbsp;&nbsp;&nbsp;**$386.22** | &nbsp;&nbsp;&nbsp;**$346.33** | &nbsp;&nbsp;&nbsp;**$335.40** | &nbsp;&nbsp;&nbsp;**$371.84** | &nbsp;&nbsp;&nbsp;**$235.47** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.457 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;49.648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40.170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.833 | &nbsp;&nbsp;&nbsp;&nbsp;(36.009) | &nbsp;&nbsp;&nbsp;&nbsp;135.457 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;51.697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47.594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.487 | &nbsp;&nbsp;&nbsp;&nbsp;(30.185) | &nbsp;&nbsp;&nbsp;&nbsp;140.914 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(4.597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.704) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.255) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.544) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(4.597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.704) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.255) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.544) |
| **Net Asset Value, End of Period** | **$442.10** | &nbsp;&nbsp;&nbsp;**$395.00** | &nbsp;&nbsp;&nbsp;**$386.22** | &nbsp;&nbsp;&nbsp;**$346.33** | &nbsp;&nbsp;&nbsp;**$335.40** | &nbsp;&nbsp;&nbsp;**$371.84** |
| **Total Return** | **13.19%** | &nbsp;&nbsp;&nbsp;**4.14%** | &nbsp;&nbsp;&nbsp;**14.00%** | &nbsp;&nbsp;&nbsp;**5.39%** | &nbsp;&nbsp;&nbsp;**-8.20%** | &nbsp;&nbsp;&nbsp;**60.32%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $104 | &nbsp;&nbsp;&nbsp;$34 | &nbsp;&nbsp;&nbsp;$56 | &nbsp;&nbsp;&nbsp;$53 | &nbsp;&nbsp;&nbsp;$53 | &nbsp;&nbsp;&nbsp;$68 |
| Ratio of Total Expenses to Average Net Assets | 0.03% | &nbsp;&nbsp;&nbsp;0.05% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% | &nbsp;&nbsp;&nbsp;0.08% |
| Ratio of Net Investment Income to Average Net Assets | 1.20% | &nbsp;&nbsp;&nbsp;1.86% | &nbsp;&nbsp;&nbsp;2.12% | &nbsp;&nbsp;&nbsp;1.96% | &nbsp;&nbsp;&nbsp;1.61% | &nbsp;&nbsp;&nbsp;1.67% |
| Portfolio Turnover Rate<sup>2</sup> | 37% | &nbsp;&nbsp;&nbsp;47% | &nbsp;&nbsp;&nbsp;52% | &nbsp;&nbsp;&nbsp;45% | &nbsp;&nbsp;&nbsp;36% | &nbsp;&nbsp;&nbsp;30% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

1 Calculated based on average shares outstanding. <br> 2 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Value Index Fund

Notes to Financial Statements

Vanguard S&P Small-Cap 600 Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: ETF Shares and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

S&P Small-Cap 600 Value Index Fund

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $39,000, representing less than 0.01% of the fund's net assets and 0.02% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P Small-Cap 600 Value Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 1710061 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1710061 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11344 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11344 |
| Total | 1721405 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1721405 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(45) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) | &nbsp;&nbsp;&nbsp;(45) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1617788 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242701 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(139149) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103552 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $468,232,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $647,039,000 of investment securities and sold $557,261,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $429,286,000 and $401,382,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $260,605,000 and sales were $143,812,000, resulting in net realized gain of $1,775,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital share transactions for each class of shares were:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;448735 | &nbsp;&nbsp;&nbsp;&nbsp;4546 | &nbsp;&nbsp;&nbsp;&nbsp;526522 | &nbsp;&nbsp;&nbsp;&nbsp;5715 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (402006) | &nbsp;&nbsp;&nbsp;(4065) | &nbsp;&nbsp;&nbsp;(569186) | &nbsp;&nbsp;&nbsp;(6120) |
| Net Increase (Decrease)—ETF Shares | &nbsp;&nbsp;&nbsp;&nbsp;46729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481 | &nbsp;&nbsp;&nbsp;&nbsp;(42664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(405) |
| **Institutional Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;66777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(2235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) | &nbsp;&nbsp;&nbsp;&nbsp;(26471) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69) |
| Net Increase (Decrease)—Institutional Shares | &nbsp;&nbsp;&nbsp;&nbsp;64837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;(22389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58) |

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H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

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S&P Small-Cap 600 Value Index Fund

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

At February 28, 2026, one shareholder was the record or beneficial owner of 31% of the fund's net assets. If this shareholder were to redeem its investment in the fund, the redemption might result in an increase in the fund's expense ratio, cause the fund to incur higher transaction costs, or lead to the realization of taxable capital gains.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18462 042026

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![](tm268191d2smallcap600groi001.jpg)

#### Financial Statements

#### For the six-months ended February 28, 2026

#### Vanguard S&P Small-Cap 600 Growth Index Fund

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Contents

Financial Statements 1 <br>

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S&P Small-Cap 600 Growth Index Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of February 28, 2026

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

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| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| **Common Stocks (99.7%)** | **Common Stocks (99.7%)** | **Common Stocks (99.7%)** | **Common Stocks (99.7%)** |
| **Communication Services (2.4%)** | **Communication Services (2.4%)** | **Communication Services (2.4%)** | **Communication Services (2.4%)** |
| <sup>\*</sup> | Madison Square Garden Sports Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20055 | &nbsp;&nbsp;&nbsp;&nbsp;6651 |
| <sup>\*</sup> | Lumen Technologies Inc. | &nbsp;&nbsp;473940 | &nbsp;&nbsp;&nbsp;&nbsp;3370 |
|  | Cinemark Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70259 | &nbsp;&nbsp;&nbsp;&nbsp;1984 |
|  | Iridium Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71317 | &nbsp;&nbsp;&nbsp;&nbsp;1708 |
|  | Uniti Group Inc. | &nbsp;&nbsp;200102 | &nbsp;&nbsp;&nbsp;&nbsp;1465 |
| <sup>\*</sup> | Cargurus Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;45336 | &nbsp;&nbsp;&nbsp;&nbsp;1392 |
| <sup>\*</sup> | TripAdvisor Inc. | &nbsp;&nbsp;130488 | &nbsp;&nbsp;&nbsp;&nbsp;1319 |
| <sup>\*</sup> | DoubleVerify Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928 |
| <sup>\*</sup> | Yelp Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;37818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843 |
|  | Cogent Communications Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 |
| <sup>\*</sup> | QuinStreet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 |
| <sup>\*</sup> | Gogo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 |
|  |  |  | &nbsp;&nbsp;**21038** |
| **Consumer Discretionary (10.7%)** | **Consumer Discretionary (10.7%)** | **Consumer Discretionary (10.7%)** | **Consumer Discretionary (10.7%)** |
|  | Installed Building Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25278 | &nbsp;&nbsp;&nbsp;&nbsp;8285 |
| <sup>\*</sup> | Brinker International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49593 | &nbsp;&nbsp;&nbsp;&nbsp;7350 |
| <sup>\*</sup> | Boot Barn Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34025 | &nbsp;&nbsp;&nbsp;&nbsp;6438 |
| <sup>\*</sup> | Etsy Inc. | &nbsp;&nbsp;110171 | &nbsp;&nbsp;&nbsp;&nbsp;6046 |
| <sup>\*</sup> | Frontdoor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80489 | &nbsp;&nbsp;&nbsp;&nbsp;5519 |
| <sup>\*</sup> | Cavco Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8712 | &nbsp;&nbsp;&nbsp;&nbsp;5029 |
| <sup>\*</sup> | Shake Shack Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;44930 | &nbsp;&nbsp;&nbsp;&nbsp;4314 |
| <sup>\*</sup> | Urban Outfitters Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60070 | &nbsp;&nbsp;&nbsp;&nbsp;3977 |
| <sup>\*</sup> | Covista Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40549 | &nbsp;&nbsp;&nbsp;&nbsp;3974 |
| <sup>\*</sup> | Dorman Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31043 | &nbsp;&nbsp;&nbsp;&nbsp;3659 |
|  | Red Rock Resorts Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;54179 | &nbsp;&nbsp;&nbsp;&nbsp;3281 |
|  | Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30772 | &nbsp;&nbsp;&nbsp;&nbsp;3149 |
| <sup>\*</sup> | Champion Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28679 | &nbsp;&nbsp;&nbsp;&nbsp;2681 |
|  | OneSpaWorld Holdings Ltd. | &nbsp;&nbsp;113794 | &nbsp;&nbsp;&nbsp;&nbsp;2450 |
| <sup>\*</sup> | National Vision Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88523 | &nbsp;&nbsp;&nbsp;&nbsp;2387 |
|  | Dana Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63901 | &nbsp;&nbsp;&nbsp;&nbsp;2188 |
| <sup>\*</sup> | Sonos Inc. | &nbsp;&nbsp;134921 | &nbsp;&nbsp;&nbsp;&nbsp;2078 |
|  | Patrick Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16714 | &nbsp;&nbsp;&nbsp;&nbsp;2069 |
|  | Kontoor Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30828 | &nbsp;&nbsp;&nbsp;&nbsp;2010 |
|  | American Eagle Outfitters Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73828 | &nbsp;&nbsp;&nbsp;&nbsp;1814 |
| <sup>1</sup> | Cheesecake Factory Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27127 | &nbsp;&nbsp;&nbsp;&nbsp;1757 |
|  | Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45414 | &nbsp;&nbsp;&nbsp;&nbsp;1639 |
|  | ADT Inc. | &nbsp;&nbsp;187138 | &nbsp;&nbsp;&nbsp;&nbsp;1501 |
|  | Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43866 | &nbsp;&nbsp;&nbsp;&nbsp;1463 |
| <sup>\*</sup> | Green Brick Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19402 | &nbsp;&nbsp;&nbsp;&nbsp;1429 |
| <sup>\*</sup> | Callaway Golf Co. | &nbsp;&nbsp;&nbsp;&nbsp;99831 | &nbsp;&nbsp;&nbsp;&nbsp;1404 |
|  | Monarch Casino & Resort Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13852 | &nbsp;&nbsp;&nbsp;&nbsp;1331 |
| <sup>\*</sup> | XPEL Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28115 | &nbsp;&nbsp;&nbsp;&nbsp;1198 |
|  | Buckle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20170 | &nbsp;&nbsp;&nbsp;&nbsp;1080 |
| <sup>\*</sup> | Six Flags Entertainment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 |
|  | Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859 |
| <sup>\*</sup> | United Parks & Resorts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 |
|  | Papa John's International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 |
| <sup>\*</sup> | Gentherm Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 |
| <sup>\*</sup> | BJ's Restaurants Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 |
|  |  |  | &nbsp;&nbsp;**95221** |
| **Consumer Staples (2.3%)** | **Consumer Staples (2.3%)** | **Consumer Staples (2.3%)** | **Consumer Staples (2.3%)** |
|  | Cal-Maine Foods Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50885 | &nbsp;&nbsp;&nbsp;&nbsp;4433 |
|  | PriceSmart Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28247 | &nbsp;&nbsp;&nbsp;&nbsp;4368 |
| <sup>\*</sup> | Freshpet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34321 | &nbsp;&nbsp;&nbsp;&nbsp;2898 |
| <sup>\*</sup> | Chefs' Warehouse Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40417 | &nbsp;&nbsp;&nbsp;&nbsp;2885 |
|  | WD-40 Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8908 | &nbsp;&nbsp;&nbsp;&nbsp;2122 |
|  | Interparfums Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11628 | &nbsp;&nbsp;&nbsp;&nbsp;1172 |
|  | Tootsie Roll Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926 |
| <sup>\*</sup> | Vital Farms Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 |

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S&P Small-Cap 600 Growth Index Fund

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| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Reynolds Consumer Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 |
| <sup>\*</sup> | National Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 |
|  |  |  | &nbsp;&nbsp;**20835** |
| **Energy (3.9%)** | **Energy (3.9%)** | **Energy (3.9%)** | **Energy (3.9%)** |
|  | Archrock Inc. | &nbsp;&nbsp;195742 | &nbsp;&nbsp;&nbsp;&nbsp;6916 |
|  | Kodiak Gas Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92767 | &nbsp;&nbsp;&nbsp;&nbsp;5062 |
| <sup>\*</sup> | Tidewater Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51448 | &nbsp;&nbsp;&nbsp;&nbsp;4086 |
|  | International Seaways Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45210 | &nbsp;&nbsp;&nbsp;&nbsp;3415 |
|  | Noble Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;74236 | &nbsp;&nbsp;&nbsp;&nbsp;3372 |
|  | Cactus Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;48407 | &nbsp;&nbsp;&nbsp;&nbsp;2614 |
| <sup>\*</sup> | Oceaneering International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65706 | &nbsp;&nbsp;&nbsp;&nbsp;2333 |
|  | Helmerich & Payne Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54387 | &nbsp;&nbsp;&nbsp;&nbsp;1915 |
| <sup>\*</sup> | Par Pacific Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26944 | &nbsp;&nbsp;&nbsp;&nbsp;1150 |
|  | Kinetik Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;24357 | &nbsp;&nbsp;&nbsp;&nbsp;1108 |
| <sup>\*</sup> | Comstock Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51223 | &nbsp;&nbsp;&nbsp;&nbsp;1004 |
| <sup>\*</sup> | REX American Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 |
| <sup>\*</sup> | Innovex International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477 |
| <sup>\*</sup> | CVR Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 |
|  |  |  | &nbsp;&nbsp;**34621** |
| **Financials (14.0%)** | **Financials (14.0%)** | **Financials (14.0%)** | **Financials (14.0%)** |
| <sup>\*</sup> | StoneX Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51828 | &nbsp;&nbsp;&nbsp;&nbsp;6608 |
| <sup>\*</sup> | Axos Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63224 | &nbsp;&nbsp;&nbsp;&nbsp;5489 |
|  | MarketAxess Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22405 | &nbsp;&nbsp;&nbsp;&nbsp;4302 |
|  | PJT Partners Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;27131 | &nbsp;&nbsp;&nbsp;&nbsp;4007 |
| <sup>\*</sup> | Enova International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27682 | &nbsp;&nbsp;&nbsp;&nbsp;3849 |
|  | Virtu Financial Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;89085 | &nbsp;&nbsp;&nbsp;&nbsp;3689 |
| <sup>\*</sup> | Palomar Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29581 | &nbsp;&nbsp;&nbsp;&nbsp;3659 |
|  | StepStone Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;81251 | &nbsp;&nbsp;&nbsp;&nbsp;3505 |
| <sup>\*</sup> | NMI Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;85797 | &nbsp;&nbsp;&nbsp;&nbsp;3373 |
|  | Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;40693 | &nbsp;&nbsp;&nbsp;&nbsp;3160 |
|  | Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;&nbsp;10026 | &nbsp;&nbsp;&nbsp;&nbsp;2963 |
|  | Moelis & Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;47076 | &nbsp;&nbsp;&nbsp;&nbsp;2794 |
|  | Mercury General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29675 | &nbsp;&nbsp;&nbsp;&nbsp;2688 |
|  | Radian Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75614 | &nbsp;&nbsp;&nbsp;&nbsp;2610 |
| <sup>\*</sup> | Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49020 | &nbsp;&nbsp;&nbsp;&nbsp;2573 |
| <sup>\*</sup> | SiriusPoint Ltd. | &nbsp;&nbsp;116044 | &nbsp;&nbsp;&nbsp;&nbsp;2453 |
|  | Victory Capital Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;34861 | &nbsp;&nbsp;&nbsp;&nbsp;2412 |
|  | Pathward Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25419 | &nbsp;&nbsp;&nbsp;&nbsp;2308 |
|  | ServisFirst Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28044 | &nbsp;&nbsp;&nbsp;&nbsp;2272 |
| <sup>\*</sup> | NCR Atleos Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51142 | &nbsp;&nbsp;&nbsp;&nbsp;2265 |
|  | BGC Group Inc. Class A | &nbsp;&nbsp;236607 | &nbsp;&nbsp;&nbsp;&nbsp;2252 |
|  | ARMOUR Residential REIT Inc. | &nbsp;&nbsp;124896 | &nbsp;&nbsp;&nbsp;&nbsp;2242 |
|  | HA Sustainable Infrastructure Capital Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60512 | &nbsp;&nbsp;&nbsp;&nbsp;2210 |
|  | WisdomTree Inc. | &nbsp;&nbsp;128238 | &nbsp;&nbsp;&nbsp;&nbsp;2194 |
|  | Assured Guaranty Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25145 | &nbsp;&nbsp;&nbsp;&nbsp;2168 |
|  | First Bancorp | &nbsp;&nbsp;101574 | &nbsp;&nbsp;&nbsp;&nbsp;2146 |
|  | HCI Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11988 | &nbsp;&nbsp;&nbsp;&nbsp;2115 |
|  | WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32345 | &nbsp;&nbsp;&nbsp;&nbsp;2054 |
|  | EVERTEC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71417 | &nbsp;&nbsp;&nbsp;&nbsp;2022 |
|  | Independent Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23795 | &nbsp;&nbsp;&nbsp;&nbsp;1858 |
|  | BankUnited Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39420 | &nbsp;&nbsp;&nbsp;&nbsp;1841 |
|  | Community Financial System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29977 | &nbsp;&nbsp;&nbsp;&nbsp;1815 |
| <sup>\*</sup> | EZCORP Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;64648 | &nbsp;&nbsp;&nbsp;&nbsp;1715 |
|  | Artisan Partners Asset Management Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;42470 | &nbsp;&nbsp;&nbsp;&nbsp;1711 |
|  | BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14533 | &nbsp;&nbsp;&nbsp;&nbsp;1599 |
|  | Acadian Asset Management Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29495 | &nbsp;&nbsp;&nbsp;&nbsp;1589 |
|  | Seacoast Banking Corp. of Florida | &nbsp;&nbsp;&nbsp;&nbsp;50817 | &nbsp;&nbsp;&nbsp;&nbsp;1581 |
|  | Ellington Financial Inc. | &nbsp;&nbsp;119782 | &nbsp;&nbsp;&nbsp;&nbsp;1488 |
|  | Trustmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32791 | &nbsp;&nbsp;&nbsp;&nbsp;1397 |
| <sup>\*</sup> | Sezzle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19060 | &nbsp;&nbsp;&nbsp;&nbsp;1390 |
|  | City Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;11098 | &nbsp;&nbsp;&nbsp;&nbsp;1331 |
|  | Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7826 | &nbsp;&nbsp;&nbsp;&nbsp;1288 |
|  | PennyMac Mortgage Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;97127 | &nbsp;&nbsp;&nbsp;&nbsp;1191 |
| <sup>\*</sup> | Customers Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17379 | &nbsp;&nbsp;&nbsp;&nbsp;1172 |
|  | First Bancorp (XNGS) | &nbsp;&nbsp;&nbsp;&nbsp;20364 | &nbsp;&nbsp;&nbsp;&nbsp;1156 |
|  | Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;12661 | &nbsp;&nbsp;&nbsp;&nbsp;1111 |
|  | FB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19821 | &nbsp;&nbsp;&nbsp;&nbsp;1084 |
|  | Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23614 | &nbsp;&nbsp;&nbsp;&nbsp;1027 |
| <sup>\*</sup> | Goosehead Insurance Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;18907 | &nbsp;&nbsp;&nbsp;&nbsp;1025 |

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S&P Small-Cap 600 Growth Index Fund

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| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Cohen & Steers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946 |
| <sup>\*</sup> | Payoneer Global Inc. | &nbsp;&nbsp;212686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 |
|  | OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;21586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 |
|  | Stellar Bancorp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 |
|  | Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794 |
|  | Adamas Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772 |
|  | Enact Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 |
| <sup>\*</sup> | ProAssurance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 |
| <sup>\*</sup> | Donnelley Financial Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 |
| <sup>\*</sup> | Trupanion Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659 |
|  | Safety Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658 |
|  | Westamerica Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;11967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606 |
|  | United Fire Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 |
|  | TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383 |
|  | AMERISAFE Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 |
| <sup>\*</sup> | World Acceptance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 |
|  |  |  | &nbsp;&nbsp;**125401** |
| **Health Care (14.7%)** | **Health Care (14.7%)** | **Health Care (14.7%)** | **Health Care (14.7%)** |
| <sup>\*</sup> | Krystal Biotech Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7940 |
| <sup>\*</sup> | PTC Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111 |
| <sup>\*</sup> | Protagonist Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6040 |
| <sup>\*</sup> | Alkermes plc | &nbsp;&nbsp;184298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5547 |
| <sup>\*</sup> | TransMedics Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5541 |
| <sup>\*</sup> | Glaukos Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5326 |
| <sup>\*</sup> | BrightSpring Health Services Inc. | &nbsp;&nbsp;126819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5254 |
| <sup>\*</sup> | TG Therapeutics Inc. | &nbsp;&nbsp;151759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4566 |
| <sup>\*</sup> | Indivior Pharmaceuticals Inc. | &nbsp;&nbsp;139357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560 |
| <sup>\*</sup> | Ligand Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4356 |
| <sup>\*</sup> | ADMA Biologics Inc. | &nbsp;&nbsp;265644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4136 |
| <sup>\*</sup> | Corcept Therapeutics Inc. | &nbsp;&nbsp;104492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3730 |
| <sup>\*</sup> | RadNet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3462 |
| <sup>\*</sup> | ACADIA Pharmaceuticals Inc. | &nbsp;&nbsp;139737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3432 |
| <sup>\*</sup> | Waystar Holding Corp. | &nbsp;&nbsp;128120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3286 |
| <sup>\*</sup> | Veracyte Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3228 |
| <sup>\*</sup> | Merit Medical Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3218 |
| <sup>\*</sup> | Privia Health Group Inc. | &nbsp;&nbsp;129052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3065 |
| <sup>\*</sup> | Catalyst Pharmaceuticals Inc. | &nbsp;&nbsp;128959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976 |
|  | LeMaitre Vascular Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520 |
| <sup>\*</sup> | Supernus Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417 |
| <sup>\*</sup> | Apellis Pharmaceuticals Inc. | &nbsp;&nbsp;114391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2398 |
|  | National HealthCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2265 |
| <sup>\*</sup> | Vericel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014 |
| <sup>\*</sup> | ICU Medical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1992 |
| <sup>\*</sup> | Inspire Medical Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904 |
| <sup>\*</sup> | Pediatrix Medical Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865 |
| <sup>\*</sup> | UFP Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813 |
| <sup>\*</sup> | Artivion Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792 |
|  | Concentra Group Holdings Parent Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594 |
| <sup>\*</sup> | Progyny Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583 |
| <sup>\*</sup> | Amneal Pharmaceuticals Inc. | &nbsp;&nbsp;113686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 |
| <sup>\*</sup> | ANI Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483 |
| <sup>\*</sup> | Collegium Pharmaceutical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470 |
| <sup>\*</sup> | Addus HomeCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391 |
| <sup>\*</sup> | Harmony Biosciences Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266 |
|  | Phibro Animal Health Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;22823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246 |
| <sup>\*</sup> | Arcus Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1223 |
| <sup>\*</sup> | Sarepta Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196 |
| <sup>\*</sup> | CorVel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116 |
| <sup>\*</sup> | Innoviva Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074 |
| <sup>\*</sup> | Tandem Diabetes Care Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 |
| <sup>\*</sup> | Pacira BioSciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052 |
| <sup>\*</sup> | NeoGenomics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;83763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823 |
| <sup>\*</sup> | Schrodinger Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755 |
| <sup>\*</sup> | Azenta Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737 |
|  | US Physical Therapy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 |
| <sup>\*</sup> | STAAR Surgical Co. | &nbsp;&nbsp;&nbsp;&nbsp;28867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 |
| <sup>\*</sup> | BioLife Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 |
| <sup>\*</sup> | Certara Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481 |
| <sup>\*</sup> | Amphastar Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 |

---

------

S&P Small-Cap 600 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | Vir Biotechnology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 |
| <sup>\*</sup> | Cytek Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 |
|  | HealthStream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287 |
| <sup>\*</sup> | Myriad Genetics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 |
|  |  |  | &nbsp;&nbsp;**131310** |
| **Industrials (21.6%)** | **Industrials (21.6%)** | **Industrials (21.6%)** | **Industrials (21.6%)** |
|  | Moog Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;31725 | &nbsp;&nbsp;&nbsp;&nbsp;10705 |
|  | Primoris Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9091 |
|  | JBT Marel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8933 |
|  | Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;166243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8475 |
|  | Armstrong World Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8352 |
|  | ESCO Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7993 |
|  | Federal Signal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;67872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7902 |
| <sup>\*</sup> | Everus Construction Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6881 |
|  | Granite Construction Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6551 |
| <sup>\*</sup> | Casella Waste Systems Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;69766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6499 |
|  | Enpro Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6082 |
|  | Powell Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5502 |
| <sup>\*</sup> | Mercury Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5255 |
| <sup>\*</sup> | Vicor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5107 |
| <sup>\*</sup> | AAR Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5104 |
| <sup>\*</sup> | MYR Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4677 |
|  | AZZ Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4562 |
|  | Brady Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;48616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489 |
|  | Air Lease Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;66839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4334 |
| <sup>\*</sup> | Gates Industrial Corp. plc | &nbsp;&nbsp;155672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4292 |
|  | Arcosa Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3766 |
|  | Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3544 |
| <sup>\*</sup> | Sunrun Inc. | &nbsp;&nbsp;258995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3432 |
|  | Mueller Water Products Inc. Class A | &nbsp;&nbsp;113419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3395 |
| <sup>\*</sup> | OPENLANE Inc. | &nbsp;&nbsp;118606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381 |
| <sup>\*</sup> | Resideo Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3332 |
|  | CSW Industrials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180 |
| <sup>\*</sup> | Verra Mobility Corp. Class A | &nbsp;&nbsp;178099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976 |
| <sup>\*</sup> | SkyWest Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2888 |
|  | CSG Systems International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422 |
|  | Franklin Electric Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2341 |
|  | WillScot Holdings Corp. | &nbsp;&nbsp;105602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282 |
|  | Kadant Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2274 |
|  | Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195 |
| <sup>\*</sup> | DXP Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963 |
| <sup>\*</sup> | Upwork Inc. | &nbsp;&nbsp;145832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957 |
| <sup>\*</sup> | Healthcare Services Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712 |
| <sup>\*</sup> | Hayward Holdings Inc. | &nbsp;&nbsp;106892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 |
| <sup>\*</sup> | Enviri Corp. | &nbsp;&nbsp;&nbsp;&nbsp;90021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1704 |
| <sup>\*</sup> | Proto Labs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641 |
|  | UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566 |
|  | Enerpac Tool Group Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;35482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448 |
|  | Interface Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;36497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149 |
|  | Worthington Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 |
| <sup>\*</sup> | Liquidity Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838 |
|  | Pitney Bowes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833 |
|  | National Presto Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 |
|  | Astec Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761 |
| <sup>\*</sup> | Legalzoom.com Inc. | &nbsp;&nbsp;100317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 |
|  | Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531 |
| <sup>\*,1</sup> | Hertz Global Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 |
|  |  |  | &nbsp;&nbsp;**192827** |
| **Information Technology (17.2%)** | **Information Technology (17.2%)** | **Information Technology (17.2%)** | **Information Technology (17.2%)** |
|  | InterDigital Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28735 | &nbsp;&nbsp;&nbsp;&nbsp;10532 |
| <sup>\*</sup> | SiTime Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9737 |
| <sup>\*</sup> | Sanmina Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9456 |
| <sup>\*</sup> | FormFactor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8555 |
| <sup>\*</sup> | Viavi Solutions Inc. | &nbsp;&nbsp;249125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7401 |
| <sup>\*</sup> | Viasat Inc. | &nbsp;&nbsp;150976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6912 |
| <sup>\*</sup> | Semtech Corp. | &nbsp;&nbsp;&nbsp;&nbsp;67797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6117 |
| <sup>\*</sup> | Mirion Technologies Inc. Class A | &nbsp;&nbsp;276609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5977 |
| <sup>\*</sup> | OSI Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5080 |
|  | Badger Meter Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5014 |

---

------

S&P Small-Cap 600 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
| <sup>\*</sup> | Qorvo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4901 |
|  | Clear Secure Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;98963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4814 |
| <sup>\*</sup> | DigitalOcean Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4294 |
| <sup>\*</sup> | Impinj Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669 |
| <sup>\*</sup> | Calix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485 |
| <sup>\*</sup> | ACM Research Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;59460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311 |
| <sup>\*</sup> | Itron Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074 |
| <sup>\*</sup> | ACI Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013 |
|  | Ralliant Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005 |
| <sup>\*</sup> | Plexus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573 |
|  | Adeia Inc. | &nbsp;&nbsp;122231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529 |
| <sup>\*</sup> | Box Inc. Class A | &nbsp;&nbsp;105115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2475 |
| <sup>\*</sup> | Q2 Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2116 |
| <sup>\*</sup> | Agilysys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044 |
| <sup>\*</sup> | Digi International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 |
| <sup>\*</sup> | BlackLine Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1966 |
| <sup>\*</sup> | LiveRamp Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930 |
| <sup>\*</sup> | Teradata Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867 |
| <sup>\*</sup> | Arlo Technologies Inc. | &nbsp;&nbsp;118303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856 |
| <sup>\*</sup> | RingCentral Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;50633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846 |
| <sup>\*</sup> | Axcelis Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829 |
| <sup>\*</sup> | Cleanspark Inc. | &nbsp;&nbsp;181965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811 |
| <sup>\*</sup> | Alarm.com Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545 |
|  | ePlus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486 |
| <sup>\*</sup> | Knowles Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472 |
| <sup>\*</sup> | SPS Commerce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427 |
| <sup>\*,1</sup> | SolarEdge Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394 |
| <sup>\*</sup> | Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364 |
| <sup>\*</sup> | Extreme Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356 |
| <sup>\*</sup> | PDF Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 |
| <sup>\*</sup> | NetScout Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185 |
| <sup>\*</sup> | MARA Holdings Inc. | &nbsp;&nbsp;132164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181 |
| <sup>\*</sup> | Veeco Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047 |
|  | A10 Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018 |
| <sup>\*</sup> | Sprinklr Inc. Class A | &nbsp;&nbsp;135116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786 |
|  | CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 |
| <sup>\*</sup> | MaxLinear Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;39420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687 |
| <sup>\*</sup> | Penguin Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547 |
| <sup>\*</sup> | N-able Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 |
|  |  |  | &nbsp;&nbsp;**153852** |
| **Materials (3.9%)** | **Materials (3.9%)** | **Materials (3.9%)** | **Materials (3.9%)** |
|  | Solstice Advanced Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7372 |
|  | Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4814 |
|  | Element Solutions Inc. | &nbsp;&nbsp;126953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455 |
|  | Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4126 |
|  | Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870 |
|  | Hawkins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329 |
|  | Warrior Met Coal Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 |
|  | Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2075 |
| <sup>\*</sup> | Century Aluminum Co. | &nbsp;&nbsp;&nbsp;&nbsp;36224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868 |
| <sup>\*</sup> | Ingevity Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**34657** |
| **Real Estate (7.0%)** | **Real Estate (7.0%)** | **Real Estate (7.0%)** | **Real Estate (7.0%)** |
|  | CareTrust REIT Inc. | &nbsp;&nbsp;249239 | &nbsp;&nbsp;&nbsp;&nbsp;10124 |
|  | Ryman Hospitality Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6944 |
|  | Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5337 |
|  | Essential Properties Realty Trust Inc. | &nbsp;&nbsp;148178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5029 |
|  | St. Joe Co. | &nbsp;&nbsp;&nbsp;&nbsp;44473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3210 |
|  | Phillips Edison & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3199 |
|  | Millrose Properties Inc. | &nbsp;&nbsp;101535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184 |
|  | Outfront Media Inc. | &nbsp;&nbsp;110428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181 |
|  | Tanger Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3143 |
|  | Macerich Co. | &nbsp;&nbsp;148652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3043 |
|  | Curbline Properties Corp. | &nbsp;&nbsp;108200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3009 |
|  | LXP Industrial Trust | &nbsp;&nbsp;&nbsp;&nbsp;34998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735 |
|  | Urban Edge Properties | &nbsp;&nbsp;&nbsp;&nbsp;67428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433 |
|  | Four Corners Property Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420 |
|  | LTC Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265 |
|  | DiamondRock Hospitality Co. | &nbsp;&nbsp;111410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119 |

---

------

S&P Small-Cap 600 Growth Index Fund

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value•  ($000) |
|  | Getty Realty Corp. | &nbsp;&nbsp;29648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973 |
|  | Alexander & Baldwin Inc. | &nbsp;&nbsp;38981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 |
|  | Veris Residential Inc. | &nbsp;&nbsp;40798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769 |
|  | Xenia Hotels & Resorts Inc. | &nbsp;&nbsp;48677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744 |
|  | JBG SMITH Properties | &nbsp;&nbsp;39634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 |
|  | Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;8949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 |
|  | Whitestone REIT | &nbsp;&nbsp;25040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 |
|  | Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;8399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 |
|  | NexPoint Residential Trust Inc. | &nbsp;&nbsp;11190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 |
|  | Saul Centers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**62164** |
| **Utilities (2.0%)** | **Utilities (2.0%)** | **Utilities (2.0%)** | **Utilities (2.0%)** |
|  | Clearway Energy Inc. Class C | &nbsp;&nbsp;94708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3628 |
|  | Chesapeake Utilities Corp. | &nbsp;&nbsp;15840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154 |
|  | American States Water Co. | &nbsp;&nbsp;28086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093 |
|  | Otter Tail Corp. | &nbsp;&nbsp;21049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791 |
|  | Avista Corp. | &nbsp;&nbsp;42687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734 |
|  | MGE Energy Inc. | &nbsp;&nbsp;20394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673 |
|  | California Water Service Group | &nbsp;&nbsp;31927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439 |
|  | Clearway Energy Inc. Class A | &nbsp;&nbsp;38626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391 |
|  | Northwest Natural Holding Co. | &nbsp;&nbsp;24554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303 |
|  | Middlesex Water Co. | &nbsp;&nbsp;11053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**17803** |
| **Total Common Stocks (Cost $730,501)** | **Total Common Stocks (Cost $730,501)** | **Total Common Stocks (Cost $730,501)** | **889729** |
| **Rights (0.0%)** | **Rights (0.0%)** | **Rights (0.0%)** | **Rights (0.0%)** |
| <sup>\*,2</sup> | OmniAb Inc. 12.5 Earnout | &nbsp;&nbsp;&nbsp;&nbsp;7390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>\*,2</sup> | OmniAb Inc. 15 Earnout | &nbsp;&nbsp;&nbsp;&nbsp;7390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Rights (Cost $—)** | **Total Rights (Cost $—)** | **Total Rights (Cost $—)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Temporary Cash Investments (0.5%)** | **Temporary Cash Investments (0.5%)** | **Temporary Cash Investments (0.5%)** | **Temporary Cash Investments (0.5%)** |
| **Money Market Fund (0.5%)** | **Money Market Fund (0.5%)** | **Money Market Fund (0.5%)** | **Money Market Fund (0.5%)** |
| <sup>3,4</sup> | Vanguard Market Liquidity Fund, 3.693% **(Cost $3,863)** | &nbsp;&nbsp;38638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3863** |
| **Total Investments (100.2%) (Cost $734,364)** | **Total Investments (100.2%) (Cost $734,364)** |  | &nbsp;&nbsp;**893592** |
| **Other Assets and Liabilities—Net (-0.2%)** | **Other Assets and Liabilities—Net (-0.2%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**(1427)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;**892165** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,801. |
| 2 | Security value determined using significant unobservable inputs. |
| 3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 4 | Collateral of $1,995 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Growth Index Fund

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini Russell 2000 Index | March 2026 | 10 | 1317 | &nbsp;&nbsp;(13) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation) ($000) |
| MARA Holdings Inc. | 2/1/2027 | GSI | 751 | (3.640) | 142 |  |

---

1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. <br> GSI—Goldman Sachs International.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Growth Index Fund

Statement of Assets and Liabilities

As of February 28, 2026

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;Unaffiliated Issuers (Cost $730,501) | 889729 |
| &nbsp;&nbsp;Affiliated Issuers (Cost $3,863) | &nbsp;&nbsp;&nbsp;&nbsp;3863 |
| Total Investments in Securities | 893592 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Unrealized Appreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 |
| **Total Assets** | **894219** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;1995 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;**2054** |
| **Net Assets** | **892165** |
| 1 Includes $1,801 of securities on loan. |  |
| **<br>At February 28, 2026, net assets consisted of:** |  |
| Paid-in Capital | 933720 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;(41555) |
| **Net Assets** | **892165** |
| **ETF Shares—Net Assets** |  |
| **Applicable to 6,820,000 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **892165** |
| **Net Asset Value Per Share—ETF Shares** | **$130.82** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Growth Index Fund

Statement of Operations

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended<br> February 28, 2026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3614 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3664 |
| **Expenses** |  |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3240** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26018 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(845) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25277** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42394 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 |
| **Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42479** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**70996** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $8. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $39, less than $1, and less than $1, respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $55,736 of net gain (loss) resulting from in-kind redemptions. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Growth Index Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31,<br> 2025 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9361 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;25277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45516 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;42479 | &nbsp;&nbsp;&nbsp;&nbsp;(43360) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;70996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11517 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(4780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9738) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;92363 | &nbsp;&nbsp;&nbsp;&nbsp;177594 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (134169) | &nbsp;&nbsp;&nbsp;(292364) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;(41806) | &nbsp;&nbsp;&nbsp;(114770) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;24410 | &nbsp;&nbsp;&nbsp;(112991) |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;&nbsp;**867755** | &nbsp;&nbsp;&nbsp;&nbsp;**980746** |
| **End of Period** | &nbsp;&nbsp;&nbsp;**892165** | &nbsp;&nbsp;&nbsp;&nbsp;**867755** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Growth Index Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ETF Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, | &nbsp;&nbsp;&nbsp;Year Ended August 31, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> February 28,<br> 2026 | 2025 | 2024 | &nbsp;&nbsp;&nbsp;2023<sup>1</sup> | &nbsp;&nbsp;&nbsp;2022<sup>1</sup> | &nbsp;&nbsp;&nbsp;2021<sup>1</sup> |
| **Net Asset Value, Beginning of Period** | **$121.19** | &nbsp;&nbsp;&nbsp;**$119.31** | &nbsp;&nbsp;&nbsp;**$100.47** | &nbsp;&nbsp;&nbsp;&nbsp;**$96.69** | &nbsp;&nbsp;&nbsp;**$116.59** | &nbsp;&nbsp;&nbsp;&nbsp;**$79.48** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.813 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.709 | &nbsp;&nbsp;&nbsp;&nbsp;(19.803) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36.946 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;10.314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.001 | &nbsp;&nbsp;&nbsp;&nbsp;(18.876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37.759 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.684) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.272) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.024) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.649) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.684) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.272) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.024) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.649) |
| **Net Asset Value, End of Period** | **$130.82** | &nbsp;&nbsp;&nbsp;**$121.19** | &nbsp;&nbsp;&nbsp;**$119.31** | &nbsp;&nbsp;&nbsp;**$100.47** | &nbsp;&nbsp;&nbsp;&nbsp;**$96.69** | &nbsp;&nbsp;&nbsp;**$116.59** |
| **Total Return** | **8.55%** | &nbsp;&nbsp;&nbsp;**2.66%** | &nbsp;&nbsp;&nbsp;**20.20%** | &nbsp;&nbsp;&nbsp;**5.28%** | &nbsp;&nbsp;&nbsp;**-16.27%** | &nbsp;&nbsp;&nbsp;**47.68%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $892 | &nbsp;&nbsp;&nbsp;$868 | &nbsp;&nbsp;&nbsp;$981 | &nbsp;&nbsp;&nbsp;$593 | &nbsp;&nbsp;&nbsp;$493 | &nbsp;&nbsp;&nbsp;$565 |
| Ratio of Total Expenses to Average Net Assets | 0.10% | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% |
| Ratio of Net Investment Income to Average Net Assets | 0.84% | &nbsp;&nbsp;&nbsp;1.03% | &nbsp;&nbsp;&nbsp;1.19% | &nbsp;&nbsp;&nbsp;1.35% | &nbsp;&nbsp;&nbsp;0.87% | &nbsp;&nbsp;&nbsp;0.79% |
| Portfolio Turnover Rate<sup>3</sup> | 35% | &nbsp;&nbsp;&nbsp;48% | &nbsp;&nbsp;&nbsp;44% | &nbsp;&nbsp;&nbsp;45% | &nbsp;&nbsp;&nbsp;42% | &nbsp;&nbsp;&nbsp;35% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

1 Adjusted to reflect a 2-for-1 share split effective March 13, 2023. <br> 2 Calculated based on average shares outstanding. <br> 3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

------

S&P Small-Cap 600 Growth Index Fund

Notes to Financial Statements

Vanguard S&P Small-Cap 600 Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended February 28, 2026, the fund's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended February 28, 2026, the fund's average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

S&P Small-Cap 600 Growth Index Fund

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.

C. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $20,000, representing less than 0.01% of the fund's net assets and 0.01% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

S&P Small-Cap 600 Growth Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 889729 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;889729 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;3863 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3863 |
| Total | 893592 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;893592 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;735085 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;208698 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(50062) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;158636 |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $225,364,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F. During the six months ended February 28, 2026, the fund purchased $300,802,000 of investment securities and sold $304,184,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $87,215,000 and $126,095,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended February 28, 2026, such purchases were $149,850,000 and sales were $210,714,000, resulting in net realized loss of $26,314,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> February 28, 2026 | &nbsp;&nbsp;&nbsp;Year Ended<br> August 31, 2025 |
|  | Shares<br> (000) | &nbsp;&nbsp;&nbsp;Shares<br> (000) |
| **ETF Shares** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;1500 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Redeemed | (1080) | &nbsp;&nbsp;&nbsp;(2560) |
| Net Increase (Decrease) in Shares Outstanding—ETF Shares | &nbsp;&nbsp;&nbsp;(340) | &nbsp;&nbsp;&nbsp;(1060) |

---

H. Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger

------

S&P Small-Cap 600 Growth Index Fund

impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

At February 28, 2026, one shareholder was the record or beneficial owner of 29% of the fund's net assets. If this shareholder were to redeem its investment in the fund, the redemption might result in an increase in the fund's expense ratio, cause the fund to incur higher transaction costs, or lead to the realization of taxable capital gains.

I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.

J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.

Q18472 042026

------

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Not applicable.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies.**

Not applicable.

**Item 10: Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Not applicable. The Trustees' Fees and Expenses are included in the financial statements filed under Item 7 of this Form.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contracts.**

**Trustees Approve Advisory Arrangements – S&P 500 Value and Growth Index Funds**

A majority of independent trustees of the board of Vanguard S&P 500 Growth Index and Vanguard S&P 500 Value Index Fund (Trustees) have approved a restructuring of each fund's management structure whereby the Vanguard Group, Inc. (Vanguard) will now provide investment advisory services to the fund through its subsidiary, Vanguard Portfolio Management LLC (VPM). The trustees determined that approving the advisory arrangements was in the best interests of each fund and its shareholders.

The Trustees based their decisions upon an evaluation of VPM's investment staff, portfolio management process, and performance. This evaluation included information provided by Vanguard's Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Trustees considered the factors discussed below, among others. However, no single factor determined whether to approve the arrangement. Rather, it was the totality of the circumstances that drove the Trustee's decisions.

**Nature, extent, and quality of services**

The Trustees considered the quality of the investment management services to be provided to the funds and took into account the organizational depth and stability of Vanguard and VPM. The Trustees considered that Vanguard has been managing investments for more than four decades. The Strategic Equity Index Management team (SE), now within VPM, adheres to the same sound, disciplined investment management process and has considerable experience, stability and depth. In its management of other Vanguard passive and active equity funds and portfolios, the team has a track record of consistent performance as a result of its disciplined investment processes. SE has specific expertise and experience managing U.S. style-box, sector, and smart-beta index strategies, effectively navigating index reconstitutions and mitigating transactions costs to deliver tight tracking error while opportunistically seeking to add excess returns through sophisticated trading strategies and superior access to corporate actions.

The Trustees concluded that VPM's experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangements.

**Investment performance**

The Trustees determined that VPM's SE, in its management of Vanguard funds, including the funds, has a track record of consistent performance and disciplined investment processes. The Trustees concluded that the performance was such that the advisory arrangements should be approved.

**Cost**

The Trustees concluded that each fund's expense ratio will remain below the average expense ratio charged by funds in its peer group and that each fund's advisory expenses will also continue to be below the peer-group average.

The Trustees do not conduct a profitability analysis of Vanguard in providing investment advisory services through VPM because of Vanguard's unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.

**The benefit of economies of scale**

The Trustees concluded that each fund's arrangement with Vanguard, and services rendered through VPM, ensure that each fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.

The Trustees will consider whether to renew the advisory arrangements again after a one-year period.

**Trustees Approve Advisory Arrangements – S&P 400 Mid-Cap Index Funds**

A majority of independent trustees of the board of Vanguard S&P Mid-Cap 400 Index Fund, Vanguard S&P Mid-Cap 400 Growth Index Fund and Vanguard S&P Mid-Cap 400 Value Index Fund (Trustees) have approved a restructuring of each fund's management structure whereby the Vanguard Group, Inc. (Vanguard) will now provide investment advisory services to the fund through its subsidiary, Vanguard Portfolio Management LLC (VPM). The trustees determined that approving the advisory arrangements was in the best interests of each fund and its shareholders.

The Trustees based their decisions upon an evaluation of VPM's investment staff, portfolio management process, and performance. This evaluation included information provided by Vanguard's Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Trustees considered the factors discussed below, among others. However, no single factor determined whether to approve the arrangement. Rather, it was the totality of the circumstances that drove the Trustee's decisions.

**Nature, extent, and quality of services**

The Trustees considered the quality of the investment management services to be provided to the funds and took into account the organizational depth and stability of Vanguard and VPM. The Trustees considered that Vanguard has been managing investments for more than four decades. The Strategic Equity Index Management team (SE), now within VPM, adheres to the same sound, disciplined investment management process and has considerable experience, stability and depth. In its management of other Vanguard passive and active equity funds and portfolios, the team has a track record of consistent performance as a result of its disciplined investment processes. SE has specific expertise and experience managing U.S. style-box, sector, and smart-beta index strategies, effectively navigating index reconstitutions and mitigating transactions costs to deliver tight tracking error while opportunistically seeking to add excess returns through sophisticated trading strategies and superior access to corporate actions.

The Trustees concluded that VPM's experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangements.

**Investment performance**

The Trustees determined that VPM's SE, in its management of Vanguard funds, including the funds, has a track record of consistent performance and disciplined investment processes. The Trustees concluded that the performance was such that the advisory arrangements should be approved.

**Cost**

The Trustees concluded that each fund's expense ratio will remain below the average expense ratio charged by funds in its peer group and that each fund's advisory expenses will also continue to be below the peer-group average.

The Trustees do not conduct a profitability analysis of Vanguard in providing investment advisory services through VPM because of Vanguard's unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.

**The benefit of economies of scale**

The Trustees concluded that each fund's arrangement with Vanguard, and services rendered through VPM, ensure that each fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.

The Trustees will consider whether to renew the advisory arrangements again after a one-year period.

**Trustees Approve Advisory Arrangements – S&P Small-Cap 600 Index Funds**

A majority of independent trustees of the board of Vanguard S&P Small-Cap 600 Index Fund, Vanguard S&P Small-Cap 600 Growth Index Fund and Vanguard S&P Small-Cap 600 Value Index Fund (Trustees) have approved a restructuring of each fund's management structure whereby the Vanguard Group, Inc. (Vanguard) will now provide investment advisory services to the fund through its subsidiary, Vanguard Portfolio Management LLC (VPM). The trustees determined that approving the advisory arrangements was in the best interests of each fund and its shareholders.

The Trustees based their decisions upon an evaluation of VPM's investment staff, portfolio management process, and performance. This evaluation included information provided by Vanguard's Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Trustees considered the factors discussed below, among others. However, no single factor determined whether to approve the arrangement. Rather, it was the totality of the circumstances that drove the Trustee's decisions.

**Nature, extent, and quality of services**

The Trustees considered the quality of the investment management services to be provided to the funds and took into account the organizational depth and stability of Vanguard and VPM. The Trustees considered that Vanguard has been managing investments for more than four decades. The Strategic Equity Index Management team (SE), now within VPM, adheres to the same sound, disciplined investment management process and has considerable experience, stability and depth. In its management of other Vanguard passive and active equity funds and portfolios, the team has a track record of consistent performance as a result of its disciplined investment processes. SE has specific expertise and experience managing U.S. style-box, sector, and smart-beta index strategies, effectively navigating index reconstitutions and mitigating transactions costs to deliver tight tracking error while opportunistically seeking to add excess returns through sophisticated trading strategies and superior access to corporate actions.

The Trustees concluded that VPM's experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangements.

**Investment performance**

The Trustees determined that VPM's SE, in its management of Vanguard funds, including the funds, has a track record of consistent performance and disciplined investment processes. The Trustees concluded that the performance was such that the advisory arrangements should be approved.

**Cost**

The Trustees concluded that each fund's expense ratio will remain below the average expense ratio charged by funds in its peer group and that each fund's advisory expenses will also continue to be below the peer-group average.

The Trustees do not conduct a profitability analysis of Vanguard in providing investment advisory services through VPM because of Vanguard's unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.

**The benefit of economies of scale**

The Trustees concluded that each fund's arrangement with Vanguard, and services rendered through VPM, ensure that each fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.

The Trustees will consider whether to renew the advisory arrangements again after a one-year period.

**Item 12: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

**Item 13: Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable.

**Item 14**: **Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable.

**Item 15**: **Submission of Matters to a Vote of Security Holders.**

Not applicable.

**Item 16**: **Controls and Procedures.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Internal Control Over Financial Reporting. There were no changes in the Registrant's Internal Control Over Financial Reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**Item 17**: **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 18: Recovery of Erroneously Awarded Compensation**

Not applicable.

**Item 19: Exhibits.**

---

| | |
|:---|:---|
| (a)(1) | Not applicable. |
| [(a)(2)](tm268191d2_ex99-cert.htm) | [Certifications filed herewith.](tm268191d2_ex99-cert.htm) |
| [(a)(2)](tm268191d2_ex99-906cert.htm) | [Certifications filed herewith.](tm268191d2_ex99-906cert.htm) |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | VANGUARD ADMIRAL FUNDS |
| BY: | /s/ SALIM RAMJI\* |
|  | &nbsp;&nbsp;&nbsp;SALIM RAMJI |
|  | CHIEF EXECUTIVE OFFICER |

---

Date: April 22, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
|  | VANGUARD ADMIRAL FUNDS |
| BY: | /s/ SALIM RAMJI\* |
|  | &nbsp;&nbsp;&nbsp;SALIM RAMJI |
|  | CHIEF EXECUTIVE OFFICER |

---

Date: April 22, 2026

---

| | |
|:---|:---|
|  | VANGUARD ADMIRAL FUNDS |
| BY: | /s/ CHRISTINE BUCHANAN\* |
|  | &nbsp;&nbsp;&nbsp;CHRISTINE BUCHANAN |
|  | CHIEF FINANCIAL OFFICER |

---

Date: April 22, 2026

---

| | |
|:---|:---|
| \* By: | /s/ Natalie Lamarque |

---

Natalie Lamarque, pursuant to a [Power of Attorney](https://www.sec.gov/Archives/edgar/data/891190/000119312525325143/f43635d7.htm) filed on December 19, 2025 (see File Number 33-49023), and to a [Power of Attorney](https://www.sec.gov/Archives/edgar/data/1532203/000119312526077489/f44118d9.htm) filed on February 27, 2026 (see File Number 333-177613), Incorporated by Reference.

## Ex-99.Cert

**Exhibit 99.CERT**

<u>CERTIFICATIONS</u>

I, Salim Ramji, certify that:

1. I have reviewed this report on Form N-CSR of Vanguard Admiral Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 22, 2026

---

| |
|:---|
| /s/ Salim Ramji |
| Salim Ramji |
| Chief Executive Officer |

---

<u>CERTIFICATIONS</u>

I, Christine Buchanan, certify that:

1. I have reviewed this report on Form N-CSR of Vanguard Admiral Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 22, 2026

---

| |
|:---|
| /s/ Christine Buchanan |
| Christine Buchanan |
| Chief Financial Officer |

---

## Exhibit 99.906

**Exhibit 99.906CERT**

**Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

Name of Issuer: **<u>Vanguard Admiral Funds</u>**

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to his knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the issuer.

Date: April 22, 2026

---

| |
|:---|
| /s/ Salim Ramji |
| Salim Ramji |
| Chief Executive Officer |

---

**Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

Name of Issuer: **<u>Vanguard Admiral Funds</u>**

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to her knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the issuer.

Date: April 22, 2026

---

| |
|:---|
| /s/ Christine Buchanan |
| Christine Buchanan |
| Chief Financial Officer |

---