# EDGAR Filing Document

**Accession Number:** 0000107606
**File Stem:** 0001752724-23-075086
**Filing Date:** 2023-3
**Character Count:** 81093
**Document Hash:** 8e781ba4da98a4c4c84a570b5ad23880
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075086.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075086

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD WINDSOR FUNDS
- **CENTRAL INDEX KEY:** 0000107606
- **IRS NUMBER:** 510082711
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00834
- **FILM NUMBER:** 23784175

**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 WINDSOR FUNDS/
- **DATE OF NAME CHANGE:** 20011121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD/WINDSOR FUNDS INC
- **DATE OF NAME CHANGE:** 19931203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WINDSOR FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Vanguard Windsor II Fund (Series ID: S000004418)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000012180 | Investor Shares | VWNFX           |
| C000012181 | Admiral Shares  | VWNAX           |

## Nport-Ex

Vanguard<sup>®</sup> Windsor™ II Fund

#### Schedule of Investments (unaudited)
As of January 31, 2023

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.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value<br> ($000) |
| **Common Stocks (95.8%)** | **Common Stocks (95.8%)** | **Common Stocks (95.8%)** | **Common Stocks (95.8%)** |
| **Communication Services (6.5%)** | **Communication Services (6.5%)** | **Communication Services (6.5%)** | **Communication Services (6.5%)** |
| <sup>\*</sup> | Alphabet Inc. Class A | 13001957 | 1285113 |
| <sup>\*</sup> | Alphabet Inc. Class C | 5847300 | 583970 |
| <sup>\*</sup> | Meta Platforms Inc. Class A | 3155647 | 470097 |
| <sup>\*</sup> | Walt Disney Co. | 2718432 | 294923 |
|  | Comcast Corp. Class A | 5841513 | 229863 |
| <sup>\*</sup> | Warner Bros Discovery Inc. | 11109848 | 164648 |
|  | News Corp. Class A | 6280710 | 127247 |
|  | Vodafone Group plc ADR | 9071932 | 105053 |
| <sup>1</sup> | Paramount Global Inc. Class B | 4333600 | 100366 |
|  | Omnicom Group Inc. | 743079 | 63897 |
| <sup>\*</sup> | Baidu Inc. ADR | 80083 | 10786 |
|  |  |  | **3435963** |
| **Consumer Discretionary (8.7%)** | **Consumer Discretionary (8.7%)** | **Consumer Discretionary (8.7%)** | **Consumer Discretionary (8.7%)** |
| <sup>\*</sup> | Amazon.com Inc. | 7679323 | 791969 |
|  | McDonald's Corp. | 1644609 | 439768 |
|  | Lennar Corp. Class A | 3810222 | 390167 |
|  | General Motors Co. | 9003401 | 354014 |
| <sup>\*</sup> | Aptiv plc | 3114085 | 352172 |
|  | Home Depot Inc. | 831083 | 269412 |
|  | Sony Group Corp. ADR | 2959000 | 264712 |
|  | Dollar General Corp. | 984444 | 229966 |
|  | NIKE Inc. Class B | 1781642 | 226856 |
|  | Magna International Inc. | 3333632 | 216486 |
| <sup>\*</sup> | Booking Holdings Inc. | 86500 | 210550 |
|  | Cie Generale des Etablissements Michelin SCA ADR | 13221000 | 208627 |
|  | Bayerische Motoren Werke AG | 2025426 | 206319 |
|  | Mercedes-Benz Group AG | 2159229 | 160673 |
|  | DR Horton Inc. | 1162980 | 114775 |
|  | Lear Corp. | 548900 | 80019 |
| <sup>\*</sup> | Adient plc | 1311943 | 59064 |
| <sup>\*</sup> | Goodyear Tire & Rubber Co. | 2833996 | 31882 |
|  |  |  | **4607431** |
| **Consumer Staples (6.5%)** | **Consumer Staples (6.5%)** | **Consumer Staples (6.5%)** | **Consumer Staples (6.5%)** |
|  | Procter & Gamble Co. | 5953904 | 847717 |
|  | Coca-Cola Co. | 10604095 | 650243 |
|  | Sysco Corp. | 5543889 | 429429 |
|  | PepsiCo Inc. | 1632445 | 279181 |
|  | Estee Lauder Cos. Inc. Class A | 905818 | 250984 |
|  | Mondelez International Inc. Class A | 3706337 | 242543 |
|  | Unilever plc ADR | 3884298 | 198487 |
|  | Constellation Brands Inc. Class A | 846000 | 195866 |
|  | Unilever plc (XLON) | 3390000 | 172548 |

---

------

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value<br> ($000) |
| Nestle SA (Registered) | 1212973 | 147994 |
|  |  | **3414992** |
| **Energy (5.8%)** | **Energy (5.8%)** | **Energy (5.8%)** |
| ConocoPhillips | 3624402 | 441706 |
| Chevron Corp. | 1916495 | 333508 |
| Halliburton Co. | 7374935 | 303995 |
| APA Corp. | 6429377 | 285014 |
| Suncor Energy Inc. | 7518132 | 261030 |
| Coterra Energy Inc. | 9614000 | 240638 |
| Shell plc ADR | 3328512 | 195750 |
| Phillips 66 | 1839000 | 184396 |
| NOV Inc. | 7299088 | 178390 |
| Marathon Oil Corp. | 6004187 | 164935 |
| Ovintiv Inc. (XNYS) | 2905110 | 143019 |
| Murphy Oil Corp. | 2420952 | 105578 |
| Cenovus Energy Inc. | 3695600 | 73838 |
| Schlumberger NV | 1083800 | 61755 |
| Baker Hughes Co. Class A | 1760800 | 55888 |
| Hess Corp. | 368467 | 55329 |
|  |  | **3084769** |
| **Financials (17.1%)** | **Financials (17.1%)** | **Financials (17.1%)** |
| Wells Fargo & Co. | 23972767 | 1123603 |
| Bank of America Corp. | 22116816 | 784705 |
| Citigroup Inc. | 13515103 | 705759 |
| American Express Co. | 3432583 | 600462 |
| PNC Financial Services Group Inc. | 3579402 | 592140 |
| Intercontinental Exchange Inc. | 5052565 | 543403 |
| Marsh & McLennan Cos. Inc. | 2264390 | 396064 |
| American International Group Inc. | 5530456 | 349635 |
| Capital One Financial Corp. | 2931300 | 348825 |
| JPMorgan Chase & Co. | 2295001 | 321208 |
| Ameriprise Financial Inc. | 906000 | 317209 |
| Commerce Bancshares Inc. | 4542684 | 302361 |
| Bank of New York Mellon Corp. | 4933734 | 249499 |
| Goldman Sachs Group Inc. | 680249 | 248842 |
| BNP Paribas SA | 3526900 | 242234 |
| Cincinnati Financial Corp. | 2086000 | 236031 |
| Blackstone Inc. | 2402563 | 230550 |
| Cullen/Frost Bankers Inc. | 1577000 | 205451 |
| Citizens Financial Group Inc. | 4234551 | 183441 |
| Hartford Financial Services Group Inc. | 2248500 | 174506 |
| US Bancorp | 3166600 | 157697 |
| Mitsubishi UFJ Financial Group Inc. ADR | 19937000 | 146936 |
| Truist Financial Corp. | 2831319 | 139839 |
| First Citizens BancShares Inc. Class A | 101058 | 78591 |
| NatWest Group plc | 19290743 | 73595 |
| ING Groep NV | 4579533 | 66313 |
| State Street Corp. | 665188 | 60752 |
| Equitable Holdings Inc. | 1842040 | 59074 |
| Corebridge Financial Inc. | 2694200 | 58626 |
| Sumitomo Mitsui Financial Group Inc. | 963900 | 41892 |
| China Construction Bank Corp. Class H | 51864000 | 33571 |
|  |  | **9072814** |
| **Health Care (15.9%)** | **Health Care (15.9%)** | **Health Care (15.9%)** |
| Johnson & Johnson | 5256926 | 859087 |
| Medtronic plc | 9241880 | 773453 |
| UnitedHealth Group Inc. | 1470864 | 734241 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value<br> ($000) |
|  | Danaher Corp. | 2658310 | 702804 |
|  | Elevance Health Inc. | 1361638 | 680805 |
|  | HCA Healthcare Inc. | 2593800 | 661600 |
|  | Cigna Corp. | 1744173 | 552327 |
|  | Thermo Fisher Scientific Inc. | 804094 | 458599 |
|  | Humana Inc. | 654541 | 334929 |
| <sup>\*</sup> | Boston Scientific Corp. | 6849195 | 316775 |
|  | Merck & Co. Inc. | 2488000 | 267236 |
|  | Amgen Inc. | 1055000 | 266282 |
|  | Roche Holding AG | 744449 | 232395 |
| <sup>\*</sup> | IQVIA Holdings Inc. | 976253 | 223962 |
|  | Alcon Inc. | 2918000 | 219463 |
|  | Zoetis Inc. | 1252953 | 207351 |
|  | CVS Health Corp. | 2339900 | 206426 |
| <sup>\*</sup> | GE Healthcare Inc. | 2648315 | 184111 |
| <sup>\*</sup> | Centene Corp. | 1832688 | 139724 |
|  | Novartis AG ADR | 1059800 | 96039 |
|  | AbbVie Inc. | 544967 | 80519 |
|  | Zimmer Biomet Holdings Inc. | 612008 | 77933 |
|  | Sanofi ADR | 1320391 | 64884 |
|  | Gsk plc Spon ADR | 1567915 | 55285 |
|  |  |  | **8396230** |
| **Industrials (8.8%)** | **Industrials (8.8%)** | **Industrials (8.8%)** | **Industrials (8.8%)** |
|  | Honeywell International Inc. | 3870119 | 806843 |
|  | Northrop Grumman Corp. | 990800 | 443918 |
|  | General Electric Co. | 4984445 | 401148 |
|  | Norfolk Southern Corp. | 1356930 | 333547 |
|  | Parker-Hannifin Corp. | 964000 | 314264 |
|  | FedEx Corp. | 1498140 | 290430 |
|  | Waste Management Inc. | 1740801 | 269354 |
|  | Xylem Inc. | 2310000 | 240263 |
|  | General Dynamics Corp. | 902000 | 210220 |
|  | Caterpillar Inc. | 709795 | 179074 |
|  | Oshkosh Corp. | 1690000 | 170318 |
|  | HEICO Corp. | 967178 | 165339 |
|  | Cummins Inc. | 633672 | 158127 |
| <sup>\*</sup> | Boeing Co. | 674400 | 143647 |
|  | PACCAR Inc. | 1127320 | 123227 |
|  | CNH Industrial NV | 6800299 | 120501 |
|  | Raytheon Technologies Corp. | 1170100 | 116835 |
| <sup>\*</sup> | Daimler Truck Holding AG | 2948514 | 99081 |
| <sup>\*</sup> | Fluor Corp. | 1403385 | 51574 |
| <sup>\*</sup> | Siemens AG (Registered) | 193374 | 30206 |
|  |  |  | **4667916** |
| **Information Technology (19.9%)** | **Information Technology (19.9%)** | **Information Technology (19.9%)** | **Information Technology (19.9%)** |
|  | Microsoft Corp. | 10826849 | 2683001 |
|  | Visa Inc. Class A | 2753270 | 633830 |
|  | Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 6298485 | 584059 |
|  | Apple Inc. | 3764348 | 543158 |
|  | Micron Technology Inc. | 8303923 | 500727 |
| <sup>\*</sup> | Adobe Inc. | 1195680 | 442808 |
|  | Samsung Electronics Co. Ltd. | 8514100 | 424090 |
| <sup>\*</sup> | Workday Inc. Class A | 1922500 | 348799 |
|  | Analog Devices Inc. | 2017991 | 346025 |
| <sup>\*</sup> | Salesforce Inc. | 1922283 | 322886 |
|  | Amphenol Corp. Class A | 3791085 | 302415 |
|  | Microchip Technology Inc. | 3874000 | 300700 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value<br> ($000) |
| <sup>\*</sup> | F5 Inc. | 1943900 | 287036 |
|  | QUALCOMM Inc. | 2036500 | 271282 |
| <sup>\*</sup> | ANSYS Inc. | 1000000 | 266360 |
|  | Applied Materials Inc. | 2349605 | 261957 |
| <sup>\*</sup> | Autodesk Inc. | 1170000 | 251737 |
|  | Cisco Systems Inc. | 5084860 | 247480 |
|  | Oracle Corp. | 2587625 | 228901 |
|  | Accenture plc Class A | 768526 | 214457 |
| <sup>\*</sup> | PayPal Holdings Inc. | 2181523 | 177772 |
|  | Seagate Technology Holdings plc | 2373398 | 160869 |
| <sup>1</sup> | Telefonaktiebolaget LM Ericsson ADR | 20290580 | 117077 |
|  | Corning Inc. | 3320051 | 114907 |
|  | TE Connectivity Ltd. | 902266 | 114723 |
|  | Cognex Corp. | 1852681 | 101416 |
|  | Fidelity National Information Services Inc. | 1193200 | 89538 |
| <sup>\*</sup> | Fiserv Inc. | 586700 | 62589 |
|  | Lam Research Corp. | 123521 | 61773 |
|  | Cognizant Technology Solutions Corp. Class A | 866500 | 57839 |
|  |  |  | **10520211** |
| **Materials (2.9%)** | **Materials (2.9%)** | **Materials (2.9%)** | **Materials (2.9%)** |
|  | Corteva Inc. | 6320000 | 407324 |
|  | Martin Marietta Materials Inc. | 731000 | 262897 |
|  | RPM International Inc. | 2399000 | 215694 |
|  | Avery Dennison Corp. | 1127728 | 213637 |
|  | Ecolab Inc. | 1258000 | 194776 |
|  | Olin Corp. | 2625900 | 169607 |
|  | International Paper Co. | 1016629 | 42515 |
|  |  |  | **1506450** |
| **Other (0.7%)** | **Other (0.7%)** | **Other (0.7%)** | **Other (0.7%)** |
|  | SPDR S&P 500 ETF Trust | 902573 | 366878 |
| **Real Estate (1.6%)** | **Real Estate (1.6%)** | **Real Estate (1.6%)** | **Real Estate (1.6%)** |
|  | Prologis Inc. | 3627981 | 469025 |
|  | Crown Castle Inc. | 1560000 | 231052 |
|  | Equity LifeStyle Properties Inc. | 2142000 | 153753 |
|  |  |  | **853830** |
| **Utilities (1.4%)** | **Utilities (1.4%)** | **Utilities (1.4%)** | **Utilities (1.4%)** |
|  | Atmos Energy Corp. | 2210000 | 259764 |
|  | Xcel Energy Inc. | 3638000 | 250185 |
|  | PPL Corp. | 8270715 | 244813 |
|  |  |  | **754762** |
| **Total Common Stocks (Cost $34,882,446)** | **Total Common Stocks (Cost $34,882,446)** | **Total Common Stocks (Cost $34,882,446)** | **50682246** |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value<br> ($000)** |
| **Temporary Cash Investments (4.0%)** | **Temporary Cash Investments (4.0%)** | **Temporary Cash Investments (4.0%)** | **Temporary Cash Investments (4.0%)** |
| **Money Market Fund (4.0%)** | **Money Market Fund (4.0%)** | **Money Market Fund (4.0%)** | **Money Market Fund (4.0%)** |
| <sup>2,3</sup> | Vanguard Market Liquidity Fund, 4.437% **(Cost $2,148,324)** | 21488984 | **2148684** |
| **Total Investments (99.8%) (Cost $37,030,770)** | **Total Investments (99.8%) (Cost $37,030,770)** | **Total Investments (99.8%) (Cost $37,030,770)** | **52830930** |
| **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **85946** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **52916876** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $30,043,000. |
| 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 $31,141,000 was received for securities on loan. |
|  | ADR—American Depositary Receipt. |

---

------

#### 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)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| E-mini S&P 500 Index | March 2023 | 2490 | 509205 | &nbsp;&nbsp;32227 |

---

A. 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. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund's pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

B. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

------

C. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. 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. Fluctuations in the value of the contracts are recorded as an asset (liability).

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.**

The following table summarizes the market value of the fund's investments and derivatives as of January 31, 2023, 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 | 48751335 | &nbsp;&nbsp;&nbsp;1930911 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;50682246 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;2148684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2148684 |
| Total | &nbsp;&nbsp;50900019 | &nbsp;&nbsp;&nbsp;1930911 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;52830930 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32227 | &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;32227 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.

## 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 WINDSOR FUNDS

- **b. Investment Company Act file number:** 811-00834

- **c. CIK number of Registrant:** 0000107606

- **d. LEI of Registrant:** 5493006MMNJGHJDZOD60

- **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 WINDSOR II FUND

- **b. EDGAR series identifier (if any):** S000004418

- **c. LEI of Series:** EPRUJCUS7VDM55UDW365

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

- **a. Date of fiscal year-end:** 2023-10-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $53011955581.57

**Total Liabilities:** $75868985.56

**Net Assets:** $52936086596.01

**Cash Not Reported:** $300.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012180 | 6.22%                | -4.99%               | 6.68%                |
| Class ID C000012181 | 6.22%                | -4.97%               | 6.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $111564654.05            | $2882811614.38                             |
| Month 2  | $124569494.54            | $-2820056078.97                            |
| Month 3  | $88605398.54             | $3158910732.43                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| General Motors Co                                 | GENERAL MOTORS C               | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    9003401 | NS      | $354013727.32  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC                                 | NATWEST GROUP PL               | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |   19290743 | NS      | $73595299.12   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Waste Management Inc                              | WASTE MANAGEMENT               | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |    1740801 | NS      | $269354138.73  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                      | THERMO FISHER                  | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     804094 | NS      | $458598931.02  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp                                         | NEWS CORP-CL A                 | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |    6280710 | NS      | $127247184.60  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp                                 | STATE ST CORP                  | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     665188 | NS      | $60751620.04   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc                    | GE HEALTHCARE TE               | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |    2648315 | NS      | $184110858.80  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                        | ZIMMER BIOMET HO               | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     612008 | NS      | $77933098.72   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                       | PHILLIPS 66                    | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |    1839000 | NS      | $184396530.00  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                     | MEDTRONIC PLC                  | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | US        |    9241880 | NS      | $773452937.20  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                                 | OMNICOM GROUP                  | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     743079 | NS      | $63897363.21   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                           | PROCTER & GAMBLE               | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    5953904 | NS      | $847716851.52  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                                   | XCEL ENERGY INC                | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    3638000 | NS      | $250185260.00  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                      | UNILEVER PLC                   | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |    3390000 | NS      | $172547952.83  | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Amgen Inc                                         | AMGEN INC                      | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |    1055000 | NS      | $266282000.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                            | INTL PAPER CO                  | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    1016629 | NS      | $42515424.78   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                                       | COGNEX CORP                    | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |    1852681 | NS      | $101415757.94  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                        | ABBVIE INC                     | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     544967 | NS      | $80518874.25   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                         | APPLE INC                      | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    3764348 | NS      | $543157772.92  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                                   | SONY GROUP-ADR                 | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | US        |    2959000 | NS      | $264712140.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA      | MICHELIN-ADR                   | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | US        |   13221000 | NS      | $208627380.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                                | ANALOG DEVICES                 | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |    2017991 | NS      | $346024916.77  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                        | SAMSUNG ELECTRON               | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    8514100 | NS      | $424089480.97  | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Marathon Oil Corp                                 | MARATHON OIL                   | CUSIP: 565849106<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | EC               | CORP              | US        |    6004187 | NS      | $164935016.89  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc                          | CONSTELLATION-A                | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |     846000 | NS      | $195865920.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                    | AMAZON.COM INC                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    7679323 | NS      | $791968580.99  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                    | CONOCOPHILLIPS                 | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    3624402 | NS      | $441705871.74  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp                                      | OSHKOSH CORP                   | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |    1690000 | NS      | $170318200.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                     | AMPHENOL CORP-A                | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    3791085 | NS      | $302414850.45  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                           | GSK PLC-ADR                    | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | US        |    1567915 | NS      | $55284682.90   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                    | MICROSOFT CORP                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |   10826849 | NS      | $2683001450.69 | 5.07%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/NC                  | FIRST CITIZENS-A               | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |     101058 | NS      | $78590785.44   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                                 | LAM RESEARCH                   | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     123521 | NS      | $61772852.10   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                      | ALPHABET INC-C                 | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    5847300 | NS      | $583969851.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                         | SHELL PLC-ADR                  | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | US        |    3328512 | NS      | $195749790.72  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                          | VISA INC-CLASS A               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    2753270 | NS      | $633830286.70  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Corp                                        | CIGNA CORP                     | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    1744173 | NS      | $552327263.91  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                                | IQVIA HOLDINGS I               | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |     976253 | NS      | $223962200.73  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | S&P500 EMINI FUT  Mar23        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       2581 | NC      | $33413572.78   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The                       | GOLDMAN SACHS GP               | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |     680249 | NS      | $248841886.69  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                         | ADOBE INC                      | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |    1259460 | NS      | $466428416.40  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                        | US BANCORP                     | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    3166600 | NS      | $157696680.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp                        | CAPITAL ONE FINA               | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |    2931300 | NS      | $348824700.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc/MO                        | COMMERCE BCSHS                 | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    4542684 | NS      | $302361047.04  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                      | CITIZENS FINANCI               | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |    4234551 | NS      | $183440749.32  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                | META PLATFORMS-A               | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    3155647 | NS      | $470096733.59  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc                       | HONEYWELL INTL                 | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    3870119 | NS      | $806842409.12  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc                            | EQUITABLE HOLDIN               | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |    1842040 | NS      | $59074222.80   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/The                  | BANK NY MELLON                 | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |    4933734 | NS      | $249498928.38  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                                        | PACCAR INC                     | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |    1127320 | NS      | $123227349.20  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                                | HCA HEALTHCARE I               | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |    2593800 | NS      | $661600566.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Ltd                                  | SCHLUMBERGER LTD               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |    1083800 | NS      | $61754924.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                                      | XYLEM INC                      | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |    2310000 | NS      | $240263100.00  | 0.45%             |  |  |  | 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        |     237913 | NS      | $23788953.86   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp                             | GENERAL DYNAMICS               | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     902000 | NS      | $210220120.00  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                                      | AUTODESK INC                   | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |    1170000 | NS      | $251737200.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                    | MERCK & CO                     | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    2488000 | NS      | $267236080.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                                        | HEICO CORP                     | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     951449 | NS      | $162650206.55  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cincinnati Financial Corp                         | CINCINNATI FIN                 | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |    2086000 | NS      | $236030900.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc                                | CENOVUS ENERGY                 | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | US        |    3695600 | NS      | $73838088.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                                       | ORACLE CORP                    | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    2587625 | NS      | $228901307.50  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                                     | DR HORTON INC                  | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |    1162980 | NS      | $114774496.20  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc                                         | BAIDU INC-SP ADR               | CUSIP: N/A<br>LEI: 254900AL64IANZYI1E02       | Long             | EC               | CORP              | US        |      80083 | NS      | $10785578.44   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Financial Services Group Inc/The         | HARTFORD FINL SV               | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |    2248500 | NS      | $174506085.00  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Avery Dennison Corp                               | AVERY DENNISON                 | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |    1127728 | NS      | $213636792.32  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                         | NESTLE SA-REG                  | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |    1212973 | NS      | $147993692.32  | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                                | HOME DEPOT INC                 | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     831083 | NS      | $269412176.11  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                                    | HALLIBURTON CO                 | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |    7374935 | NS      | $303994820.70  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                                            | F5 INC                         | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |    1943900 | NS      | $287036274.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| China Construction Bank Corp                      | CCB-H                          | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | HK        |   51864000 | NS      | $33571094.97   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Dollar General Corp                               | DOLLAR GENERAL C               | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     984444 | NS      | $229966118.40  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                                       | CUMMINS INC                    | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     633672 | NS      | $158126510.88  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                   | ERICSSON LM-ADR                | CUSIP: N/A<br>LEI: 549300W9JLPW15XIFM52       | Long             | EC               | CORP              | US        |   20290580 | NS      | $117076646.60  | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Marsh & McLennan Cos Inc                          | MARSH & MCLENNAN               | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |    2264390 | NS      | $396064454.90  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                                | VODAFONE GRP-ADR               | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | US        |    9071932 | NS      | $105052972.56  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                            | MERCEDES-BENZ GR               | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |    2159229 | NS      | $160672655.31  | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| ANSYS Inc                                         | ANSYS INC                      | CUSIP: 03662Q105<br>LEI: 549300VJV8H15Z5FJ571 | Long             | EC               | CORP              | US        |    1000000 | NS      | $266360000.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Corp                                         | HESS CORP                      | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |     368467 | NS      | $55329004.72   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                       | NOVARTIS AG-ADR                | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | US        |    1059800 | NS      | $96039076.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity Ltd                               | TE CONNECTIVITY                | CUSIP: H84989104<br>LEI: 894500ZRIX9K13RHXR17 | Long             | EC               | CORP              | US        |     902266 | NS      | $114723121.90  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc                          | MICROCHIP TECH                 | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    3874000 | NS      | $300699880.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                               | ELEVANCE HEALTH                | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    1361638 | NS      | $680805383.62  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc                  | AMERICAN INTERNA               | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |    5530456 | NS      | $349635428.32  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos Inc/The                          | ESTEE LAUDER                   | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     905818 | NS      | $250984051.44  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc                        | MONDELEZ INTER-A               | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    3706337 | NS      | $242542693.28  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC                   | SEAGATE TECHNOLO               | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |    2373398 | NS      | $160868916.44  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                              | BOOKING HOLDINGS               | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      86500 | NS      | $210549650.00  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                          | NIKE INC -CL B                 | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    1781642 | NS      | $226856475.86  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Global                                  | PARAMOUNT GLOB-B               | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EC               | CORP              | US        |    4333600 | NS      | $100366176.00  | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Parker-Hannifin Corp                              | PARKER HANNIFIN                | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     964000 | NS      | $314264000.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                               | PAYPAL HOLDINGS                | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    2181523 | NS      | $177772309.27  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                                         | LEAR CORP                      | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     548900 | NS      | $80018642.00   | 0.15%             |  |  |  | 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        | 2121491911 | NS      | $2121279762.27 | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                            | BOSTON SCIENTIFC               | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    6849195 | NS      | $316775268.75  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Adient PLC                                        | ADIENT PLC                     | CUSIP: G0084W101<br>LEI: 5493002QLDY8O75RTR78 | Long             | EC               | CORP              | US        |    1311943 | NS      | $59063673.86   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                                        | FISERV INC                     | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     586700 | NS      | $62589156.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc        | FIDELITY NATIONA               | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |    1193200 | NS      | $89537728.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                                  | COCA-COLA CO/THE               | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |   10604095 | NS      | $650243105.40  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc                | MITSUBISHI U-ADR               | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | US        |   19937000 | NS      | $146935690.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                                  | CROWN CASTLE INC               | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |    1560000 | NS      | $231051600.00  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                                         | OLIN CORP                      | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |    2625900 | NS      | $169606881.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                                 | CNH INDUSTRIAL N               | CUSIP: N20944109<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | US        |    6800299 | NS      | $120501298.28  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                   | CATERPILLAR INC                | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     709795 | NS      | $179074180.55  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Apache Corp                                       | APA CORP                       | CUSIP: 03743Q108<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | EC               | CORP              | US        |    6429377 | NS      | $285014282.41  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                     | CITIGROUP INC                  | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |   13961503 | NS      | $729069686.66  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                     | INTERCONTINENTAL               | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |    5052565 | NS      | $543403365.75  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                                      | QUALCOMM INC                   | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    2036500 | NS      | $271282165.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Daimler Truck Holding AG                          | DAIMLER TRUCK HO               | CUSIP: N/A<br>LEI: 529900PW78JIYOUBSR24       | Long             | EC               | CORP              | DE        |    2948514 | NS      | $99080810.04   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Comcast Corp                                      | COMCAST CORP-A                 | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    5841513 | NS      | $229863536.55  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                            | SPDR S&P 500 ETF               | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |     902573 | NS      | $366877873.04  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                        | ZOETIS INC                     | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |    1252953 | NS      | $207351191.97  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                                   | MURPHY OIL CORP                | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |    2420952 | NS      | $105577716.72  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd         | TAIWAN SEMIC-ADR               | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | US        |    6298485 | NS      | $584058514.05  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                                        | FLUOR CORP                     | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |    1403385 | NS      | $51574398.75   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers Inc                          | CULLEN/FROST                   | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |    1577000 | NS      | $205451560.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                    | SALESFORCE INC                 | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    1922283 | NS      | $322885875.51  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                         | APTIV PLC                      | CUSIP: G6095L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    3114085 | NS      | $352171872.65  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                                   | BAKER HUGHES CO                | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1760800 | NS      | $55887792.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                                | COTERRA ENERGY I               | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    9614000 | NS      | $240638420.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                     | ACCENTURE PLC-A                | CUSIP: G1151C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     768526 | NS      | $214457180.30  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                      | DANAHER CORP                   | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    2658310 | NS      | $702803997.80  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                                       | OVINTIV INC                    | CUSIP: 69047Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    2905110 | NS      | $143018565.30  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc                          | COREBRIDGE FINAN               | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    2694200 | NS      | $58625792.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                                   | MCDONALDS CORP                 | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |    1644609 | NS      | $439768446.60  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc                     | MARTIN MAR MTLS                | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |     731000 | NS      | $262896840.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp                             | NORTHROP GRUMMAN               | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     990800 | NS      | $443918032.00  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp                             | TRUIST FINANCIAL               | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    2831319 | NS      | $139838845.41  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                                      | CHEVRON CORP                   | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1916495 | NS      | $333508459.90  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The                     | GOODYEAR TIRE                  | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    2833996 | NS      | $31882455.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                                     | BOEING CO/THE                  | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |     674400 | NS      | $143647200.00  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                                    | BLACKSTONE INC                 | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |    2402563 | NS      | $230549945.48  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Raytheon Technologies Corp                        | RAYTHEON TECHNOL               | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    1170100 | NS      | $116834485.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp                                 | ATMOS ENERGY                   | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |    2210000 | NS      | $259763400.00  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                               | GENERAL ELECTRIC               | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    4984445 | NS      | $401148133.60  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc                         | WARNER BROS DISC               | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |   13378248 | NS      | $198265635.36  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                                       | CORNING INC                    | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |    3320051 | NS      | $114906965.11  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                                        | FEDEX CORP                     | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |    1498140 | NS      | $290429420.40  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc                             | MICRON TECH                    | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    8303923 | NS      | $500726556.90  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                   | CVS HEALTH CORP                | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    2158100 | NS      | $190387582.00  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                   | EQUITY LIFESTYLE               | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    2142000 | NS      | $153752760.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                             | APPLIED MATERIAL               | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    2349605 | NS      | $261957461.45  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                                        | ECOLAB INC                     | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |    1258000 | NS      | $194776140.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp                             | NORFOLK SOUTHERN               | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |    1356930 | NS      | $333546963.30  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                               | JPMORGAN CHASE                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    2295001 | NS      | $321208339.96  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                                      | CENTENE CORP                   | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |    1832688 | NS      | $139724133.12  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                                  | WELLS FARGO & CO               | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |   23972767 | NS      | $1123603589.29 | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                                        | SYSCO CORP                     | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |    5543889 | NS      | $429429641.94  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon Inc                                         | ALCON INC                      | CUSIP: H01301128<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | US        |    2918000 | NS      | $219462780.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                                          | PPL CORP                       | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    8270715 | NS      | $244813164.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc               | SMFG                           | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               | CORP              | JP        |     963900 | NS      | $41892148.98   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp                              | BANK OF AMERICA                | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   22116816 | NS      | $784704631.68  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                       | WORKDAY INC-A                  | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |    1922500 | NS      | $348799175.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                                           | NOV INC                        | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    7299088 | NS      | $178389710.72  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi                                            | SANOFI-ADR                     | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | US        |    1320391 | NS      | $64884013.74   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc                           | MAGNA INTL                     | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | US        |    3333632 | NS      | $216486062.08  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                        | SIEMENS AG-REG                 | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |     193374 | NS      | $30206047.82   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Humana Inc                                        | HUMANA INC                     | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     654541 | NS      | $334928629.70  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                                       | PEPSICO INC                    | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    1632445 | NS      | $279180743.90  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                      | UNILEVER PLC-ADR               | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | US        |    3884298 | NS      | $198487627.80  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                                       | LENNAR CORP-A                  | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |    3810222 | NS      | $390166732.80  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                            | UNITEDHEALTH GRP               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    1470864 | NS      | $734240600.16  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc                             | RPM INTL INC                   | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |    2399000 | NS      | $215694090.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                    | BNP PARIBAS                    | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    3526900 | NS      | $242234154.12  | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Corteva Inc                                       | CORTEVA INC                    | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    6320000 | NS      | $407324000.00  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                 | JOHNSON&JOHNSON                | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    5256926 | NS      | $859086846.92  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                                 | CISCO SYSTEMS                  | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    5084860 | NS      | $247480136.20  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                               | AMERICAN EXPRESS               | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |    3432583 | NS      | $600461744.19  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial Inc                          | AMERIPRISE FINAN               | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     906000 | NS      | $317208720.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp               | COGNIZANT TECH-A               | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     866500 | NS      | $57838875.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                      | PROLOGIS INC                   | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    3627981 | NS      | $469025383.68  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                  | ROCHE HLDG-GENUS               | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     744449 | NS      | $232394944.39  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayerische Motoren Werke AG                       | BMW AG                         | CUSIP: D12096109<br>LEI: YEH5ZCD6E441RHVHD759 | Long             | EC               | CORP              | DE        |    2025426 | NS      | $206319468.70  | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc                                      | ALPHABET INC-A                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   13001957 | NS      | $1285113429.88 | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc                                 | SUNCOR ENERGY                  | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | US        |    7518132 | NS      | $261029543.04  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc/The              | PNC FINANCIAL SE               | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |    3579402 | NS      | $592140472.86  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                                | WALT DISNEY CO/T               | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    2718432 | NS      | $294922687.68  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                      | ING GROEP NV                   | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    4579533 | NS      | $66312856.22   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** VANGUARD WINDSOR FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer