# EDGAR Filing Document

**Accession Number:** 0000734383
**File Stem:** 0000734383-26-000085
**Filing Date:** 2026-3
**Character Count:** 18184
**Document Hash:** a001a229ec1e8af3065eacf7f78d362a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000734383-26-000085.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0000734383-26-000085

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD SPECIALIZED FUNDS
- **CENTRAL INDEX KEY:** 0000734383

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03916
- **FILM NUMBER:** 26819647

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

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

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

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

## Series and Classes Contracts Data

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $6639132813.89

**Total Liabilities:** $10137069.33

**Net Assets:** $6628995744.56

**Cash Not Reported:** $7424062.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000008005 | 3.74%                | -1.98%               | 8.10%                |
| Class ID C000008006 | 3.77%                | -1.99%               | 8.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $133550742.64            | $64925805.58                               |
| Month 2  | $22566820.18             | $-164710791.23                             |
| Month 3  | $79403911.28             | $410810759.89                              |

### Schedule of Portfolio Investments

| Name                                              | Title                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Power Grid Corp of India Ltd                      | POWER GRID CORP                | CUSIP: N/A<br>LEI: 3358009SHWZ3DZEQ4Z56       | Long             | EC               | CORP              | IN        |  17441407 | NS      | $48688089.94  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                  | DUKE ENERGY CORP               | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |   1794121 | NS      | $217716583.35 | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd                           | RELIANCE INDUSTR               | CUSIP: Y72596102<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |   5529089 | NS      | $84014075.40  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| RBS Securities, Inc.                              | RBS TRIPARTY TREASUR           | CUSIP: N/A<br>LEI: ZE2ZWJ5BTIQJ8M0C6K34       | Long             | RA               | CORP              | US        |  67500000 | PA      | $67500000.00  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Co/The                                   | SOUTHERN CO                    | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |   2346342 | NS      | $209551804.02 | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp                         | CONSTELLATION EN               | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |    196674 | NS      | $55202458.32  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                         | SHELL PLC-ADR                  | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | US        |   3190236 | NS      | $245743879.08 | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                                         | ONEOK INC                      | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |   1698049 | NS      | $134468500.31 | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                                | NEXTERA ENERGY                 | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |   2173817 | NS      | $191078514.30 | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                          | ENGIE                          | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |  11434363 | NS      | $341388992.71 | 5.15%             |  |  |  | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                    | AMERICAN ELECTRI               | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |   1777494 | NS      | $212899343.85 | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                                           | SLB LTD                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |    756639 | NS      | $36606194.82  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |     70477 | NS      | $7047694.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                            | SEMPRA                         | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |   2953927 | NS      | $257021188.27 | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                               | DOMINION ENERGY                | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |   3588930 | NS      | $215945918.10 | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                      | IBERDROLA SA                   | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |   5306110 | NS      | $119295901.64 | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenaris SA                                        | TENARIS SA                     | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | IT        |    690068 | NS      | $15328439.72  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                  | TOTALENERGIES SE               | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | US        |   2230844 | NS      | $161513105.60 | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LUKOIL PJSC                                       | LUKOIL PJSC-ADR                | CUSIP: N/A<br>LEI: 549300LCJ1UJXHYBWI24       | Long             | EC               | CORP              | GB        |   1423477 | NS      | $14.23        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Shell PLC                                         | SHELL PLC                      | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |   8679164 | NS      | $333622692.79 | 5.03%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                  | TOTALENERGIES SE               | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |   3560565 | NS      | $258955215.74 | 3.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Williams Cos Inc/The                              | WILLIAMS COS INC               | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |   4024053 | NS      | $270657804.78 | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp                           | MARATHON PETROLE               | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |   1473492 | NS      | $259614555.48 | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                            | PETROBRAS                      | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |   8669425 | NS      | $66535190.87  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                            | DIAMONDBACK ENER               | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |   1169286 | NS      | $191704439.70 | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                                | COTERRA ENERGY I               | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |   5921448 | NS      | $170833774.80 | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                                  | EXXON MOBIL CORP               | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |   4250229 | NS      | $600982380.60 | 9.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                          | ENEL SPA                       | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |  15646998 | NS      | $172876595.57 | 2.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp                                      | CHEVRON CORP                   | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1568632 | NS      | $277491000.80 | 4.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp                                 | ATMOS ENERGY                   | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |    689729 | NS      | $114729521.86 | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                                      | GLENCORE PLC                   | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | GB        |   9024618 | NS      | $61524015.31  | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Targa Resources Corp                              | TARGA RESOURCES                | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |   1134785 | NS      | $228069089.30 | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kansai Electric Power Co Inc/The                  | KANSAI ELEC PWR                | CUSIP: N/A<br>LEI: 353800PFUKP5ONPJNZ86       | Long             | EC               | CORP              | JP        |   4937678 | NS      | $78780296.43  | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinor ASA                                       | EQUINOR ASA-ADR                | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | US        |    630433 | NS      | $16927126.05  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                           | E.ON SE                        | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |   7670579 | NS      | $162691708.30 | 2.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinor ASA                                       | EQUINOR ASA                    | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |   1969134 | NS      | $52927386.57  | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| SSE PLC                                           | SSE PLC                        | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |   5767951 | NS      | $191712013.57 | 2.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Cameco Corp                                       | CAMECO CORP                    | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | US        |    459493 | NS      | $56696841.27  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                                       | EXELON CORP                    | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |   2853498 | NS      | $127779640.44 | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                                 | NATIONAL GRID PL               | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |  12527184 | NS      | $212831217.78 | 3.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Corp                                       | VISTRA CORP                    | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |    153906 | NS      | $24371015.10  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                      | IBERDROLA SA - INT (JAN 2026)  | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |     72686 | NS      | $1630546.19   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenaris SA                                        | TENARIS-ADR                    | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | US        |   1742938 | NS      | $77212153.40  | 1.16%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2026-03-30

**Name of Applicant:** VANGUARD SPECIALIZED FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer