# EDGAR Filing Document

**Accession Number:** 0000734383
**File Stem:** 0001752724-23-075065
**Filing Date:** 2023-3
**Character Count:** 43276
**Document Hash:** 16670586dece434a4669f22e754c63b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075065.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075065

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20230131

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03916
- **FILM NUMBER:** 23784154

**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 Health Care Fund (Series ID: S000002922)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000008007 | Investor Shares | VGHCX           |
| C000008008 | Admiral Shares  | VGHAX           |

## 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 HEALTH CARE FUND

- **b. EDGAR series identifier (if any):** S000002922

- **c. LEI of Series:** V3VSQJG5SDM3YTFC5I04

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $47531634058.92

**Total Liabilities:** $39369925.28

**Net Assets:** $47492264133.64

**Cash Not Reported:** $1455686.46

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000008007 | 5.84%                | -1.89%               | -0.23%               |
| Class ID C000008008 | 5.85%                | -1.89%               | -0.22%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $420943774.44            | $2268734088.82                             |
| Month 2  | $610928647.32            | $-1555416896.54                            |
| Month 3  | $473009558.30            | $-594625567.29                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Surgery Partners Inc                              | SURGERY PARTNERS               | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |   1504178 | NS      | $49938709.60   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                      | THERMO FISHER                  | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |   2024414 | NS      | $1154584036.62 | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                                    | LONZA GROUP -REG               | CUSIP: N/A<br>LEI: 549300EFW4H2TCZ71055       | Long             | EC               | CORP              | CH        |    352632 | NS      | $201155951.20  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Wuxi Biologics Cayman Inc                         | WUXI BIOLOGICS C               | CUSIP: N/A<br>LEI: 5493001TD2TH6VDTJU11       | Long             | EC               | CORP              | HK        |   6756200 | NS      | $56417026.80   | 0.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Novartis AG                                       | NOVARTIS AG-REG                | CUSIP: H5820Q150<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |  21530502 | NS      | $1946552907.39 | 4.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Amicus Therapeutics Inc                           | AMICUS THERAPEUT               | CUSIP: 03152W109<br>LEI: 549300MRD1SMUTNBPQ53 | Long             | EC               | CORP              | US        |   3307491 | NS      | $43129682.64   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                              | ALIGN TECHNOLOGY               | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |   1245662 | NS      | $335992411.26  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Celldex Therapeutics Inc                          | CELLDEX THERAPEU               | CUSIP: 15117B202<br>LEI: 529900F018DMYWH38923 | Long             | EC               | CORP              | US        |    734330 | NS      | $32354579.80   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Prothena Corp PLC                                 | PROTHENA CORP PL               | CUSIP: G72800108<br>LEI: 5299009ZXQ8NIIJ8OL30 | Long             | EC               | CORP              | US        |    852512 | NS      | $48209553.60   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sage Therapeutics Inc                             | SAGE THERAPEUTIC               | CUSIP: 78667J108<br>LEI: 5493000JX4BJS9W6CN35 | Long             | EC               | CORP              | US        |   1406483 | NS      | $62363456.22   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Amedisys Inc                                      | AMEDISYS INC                   | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |    603050 | NS      | $58290813.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Blueprint Medicines Corp                          | BLUEPRINT MEDICI               | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |   2379137 | NS      | $111200863.38  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Remegen Co Ltd                                    | REMEGEN CO LTD-H               | CUSIP: N/A<br>LEI: 300300M9HCX4TFAD4I10       | Long             | EC               | CORP              | HK        |   4397500 | NS      | $35558662.88   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Nippon Shinyaku Co Ltd                            | NIPPON SHINYAKU                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |   1977800 | NS      | $101789788.82  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Capital Inc.                             | BZW TRIPARTY TREASURY          | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        | 148300000 | PA      | $148300000.00  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Stryker Corp                                      | STRYKER CORP                   | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |   5156679 | NS      | $1308816696.99 | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Reata Pharmaceuticals Inc                         | REATA PHARMACE-A               | CUSIP: 75615P103<br>LEI: 5299005F094GH9QDDD80 | Long             | EC               | CORP              | US        |   1237211 | NS      | $53608352.63   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                           | KYMERA THERAPEUT               | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    877191 | NS      | $32789399.58   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                          | SAREPTA THERAPEU               | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |   1904084 | NS      | $237953377.48  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corp                                       | WATERS CORP                    | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |    811122 | NS      | $266518466.76  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc                               | TG THERAPEUTICS                | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |   3066304 | NS      | $46699809.92   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Intra-Cellular Therapies Inc                      | INTRA-CELLULAR T               | CUSIP: 46116X101<br>LEI: 5299002U2KGF193IJA20 | Long             | EC               | CORP              | US        |   2295196 | NS      | $109985792.32  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Capital Markets LLC                           | RBC TRIPARTY MTGE              | CUSIP: N/A<br>LEI: 549300LCO2FLSSVFFR64       | Long             | RA               | CORP              | US        | 147100000 | PA      | $147100000.00  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| IQVIA Holdings Inc                                | IQVIA HOLDINGS I               | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |   1559767 | NS      | $357826147.47  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Securities International, Inc.             | NOMURA TREAS TRIPARTY          | CUSIP: N/A<br>LEI: OXTKY6Q8X53C9ILVV871       | Long             | RA               | CORP              | US        | 197000000 | PA      | $197000000.00  | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Rocket Pharmaceuticals Inc                        | ROCKET PHARMACEU               | CUSIP: 77313F106<br>LEI: 549300R7VV82YUIN4Y93 | Long             | EC               | CORP              | US        |   1199337 | NS      | $26061593.01   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc                     | REGENERON PHARM                | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |   1522435 | NS      | $1154721274.45 | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Hapvida Participacoes e Investimentos S/A         | HAPVIDA PARTICIP               | CUSIP: P5R526106<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   8909471 | NS      | $9038822.70    | 0.02%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bank of Nova Scotia                               | SCOTIA TRIPARTY TREASURY       | CUSIP: N/A<br>LEI: L3I9ZG2KFGXZ61BMYR72       | Long             | RA               | CORP              | US        |  79000000 | PA      | $79000000.00   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| agilon health Inc                                 | AGILON HEALTH IN               | CUSIP: 00857U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  14265479 | NS      | $310416823.04  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                         | ARGENX SE                      | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Long             | EC               | CORP              | BE        |   1339326 | NS      | $510131265.87  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Eisai Co Ltd                                      | EISAI CO LTD                   | CUSIP: N/A<br>LEI: 353800HDEE0ZYEX4QV91       | Long             | EC               | CORP              | JP        |  18623177 | NS      | $1152215691.58 | 2.43%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA Healthcare Inc                                | HCA HEALTHCARE I               | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |   3130156 | NS      | $798408890.92  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma Inc                               | ASTELLAS PHARMA                | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |  22817104 | NS      | $335870813.63  | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Genmab A/S                                        | GENMAB A/S                     | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Long             | EC               | CORP              | DK        |   2088852 | NS      | $818614351.17  | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |      6690 | NS      | $668974.10     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                      | ILLUMINA INC                   | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |   1377704 | NS      | $295104196.80  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                        | BIOGEN INC                     | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |   4887203 | NS      | $1421687352.70 | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                    | MERCK & CO                     | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |  18307050 | NS      | $1966360240.50 | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Almirall SA                                       | ALMIRALL SA                    | CUSIP: N/A<br>LEI: 95980020140005007996       | Long             | EC               | CORP              | ES        |   3142775 | NS      | $31666848.48   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| 2seventy bio Inc                                  | 2SEVENTY BIO                   | CUSIP: 901384107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2046666 | NS      | $27834657.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                             | ENCOMPASS HEALTH               | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |   1753507 | NS      | $109506512.15  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Intecc Co Ltd                               | ASAHI INTECC CO                | CUSIP: N/A<br>LEI: 353800J3AV2SCNIO8L39       | Long             | EC               | CORP              | JP        |   2023500 | NS      | $35500653.33   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Charles River Laboratories International Inc      | CHARLES RIVER LA               | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |    210626 | NS      | $51234774.50   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                                      | TELEFLEX INC                   | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |   1217493 | NS      | $296362146.06  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                     | ULTRAGENYX PHARM               | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |    900000 | NS      | $40797000.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas Securities Corp.                      | PARIB TRIPARTY MORTGAGE        | CUSIP: N/A<br>LEI: 2J5703FH5U5M97R1I237       | Long             | RA               | CORP              | US        |  27900000 | PA      | $27900000.00   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd   | SHENZHEN MINDR-A               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    452517 | NS      | $22372537.92   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                                            | UCB SA                         | CUSIP: B93562120<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |  10923125 | NS      | $896838846.34  | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| DiaSorin SpA                                      | DIASORIN SPA                   | CUSIP: T3475Y104<br>LEI: 8156002878BDF0EE4348 | Long             | EC               | CORP              | IT        |    552359 | NS      | $71905976.03   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Pfizer Inc                                        | PFIZER INC                     | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |  48324782 | NS      | $2134022373.12 | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Tecan Group AG                                    | TECAN GROUP AG-R               | CUSIP: N/A<br>LEI: 529900CSN9R3BLETSL26       | Long             | EC               | CORP              | CH        |    203082 | NS      | $85228270.09   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| NanoString Technologies Inc                       | NANOSTRING TECHN               | CUSIP: 63009R109<br>LEI: 549300G4CK0Y3WRDMY89 | Long             | EC               | CORP              | US        |   1416596 | NS      | $14987585.68   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                               | ELEVANCE HEALTH                | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |   2560815 | NS      | $1280381891.85 | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Hikma Pharmaceuticals PLC                         | HIKMA PHARMACEUT               | CUSIP: G4576K104<br>LEI: 549300BNS685UXH4JI75 | Long             | EC               | CORP              | GB        |   6910934 | NS      | $146194623.19  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolent Health Inc                                | EVOLENT HEALTH-A               | CUSIP: 30050B101<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | EC               | CORP              | US        |   1734142 | NS      | $55874055.24   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Zai Lab Ltd                                       | ZAI LAB LTD-ADR                | CUSIP: N/A<br>LEI: 549300P2UYQ9U5LY1T58       | Long             | EC               | CORP              | US        |   1085794 | NS      | $45755359.16   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagen Inc                                        | SEAGEN INC                     | CUSIP: 81181C104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4583727 | NS      | $639338241.96  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Shandong Weigao Group Medical Polymer Co Ltd      | SHANDONG WEIG-H                | CUSIP: N/A<br>LEI: 5299005WQUU15JQU8S60       | Long             | EC               | CORP              | HK        |  24872000 | NS      | $41346740.94   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Abcam PLC                                         | ABCAM PLC-ADR                  | CUSIP: N/A<br>LEI: 213800B9N83DSNT33F79       | Long             | EC               | CORP              | US        |   7161997 | NS      | $99336898.39   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Laboratory Corp of America Holdings               | LABORATORY CP                  | CUSIP: 50540R409<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | EC               | CORP              | US        |   1485818 | NS      | $374604434.16  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Zai Lab Ltd                                       | ZAI LAB LTD                    | CUSIP: N/A<br>LEI: 549300P2UYQ9U5LY1T58       | Long             | EC               | CORP              | HK        |  14229400 | NS      | $59518828.29   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Natixis SA                                        | NATIXIS TRIPARTY TR            | CUSIP: N/A<br>LEI: KX1WK48MPD4Y2NCUIZ63       | Long             | RA               | CORP              | US        |  21900000 | PA      | $21900000.00   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Agricole                                   | CREDIT AGRICOLE TRIPARTY TSY   | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | RA               | CORP              | US        |   8000000 | PA      | $8000000.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Boston Scientific Corp                            | BOSTON SCIENTIFC               | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |  25019385 | NS      | $1157146556.25 | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                    | ELI LILLY & CO                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |   7644984 | NS      | $2631021243.60 | 5.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                               | ABBOTT LABS                    | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |   9932377 | NS      | $1098024277.35 | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplifon SpA                                      | AMPLIFON SPA                   | CUSIP: N/A<br>LEI: ZYXJDNVM2JI3VBM8G556       | Long             | EC               | CORP              | IT        |   1439109 | NS      | $39738479.05   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| WuXi AppTec Co Ltd                                | WUAPPTEC CO LT-H               | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175       | Long             | EC               | CORP              | HK        |   9838416 | NS      | $127840733.72  | 0.27%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GSK PLC                                           | GSK PLC                        | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |  22646145 | NS      | $397780266.04  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd                      | CHUGAI PHARMA CO               | CUSIP: N/A<br>LEI: 529900T9LAII161DCN95       | Long             | EC               | CORP              | JP        |  16972100 | NS      | $440003196.15  | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Galapagos NV                                      | GALAPAGOS NV                   | CUSIP: N/A<br>LEI: 549300QKJ78IY0IOV655       | Long             | EC               | CORP              | NL        |   1175458 | NS      | $52023870.39   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Securities, LLC                   | BOA-MTG TRIPARTY REPO          | CUSIP: N/A<br>LEI: 8NAV47T0Y26Q87Y0QP81       | Long             | RA               | CORP              | US        |  61500000 | PA      | $61500000.00   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcon Inc                                         | ALCON INC                      | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |   3393208 | NS      | $256046598.06  | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Everest Medicines Ltd                             | EVEREST MEDICINE               | CUSIP: N/A<br>LEI: 3003005FQADBCG83AX84       | Long             | EC               | CORP              | HK        |   2139500 | NS      | $6835871.87    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Daiichi Sankyo Co Ltd                             | DAIICHI SANKYO                 | CUSIP: N/A<br>LEI: 353800XGIU2IHQGC9504       | Long             | EC               | CORP              | JP        |  43891190 | NS      | $1378487743.22 | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Cytokinetics Inc                                  | CYTOKINETICS INC               | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |   2281868 | NS      | $96933752.64   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                        | ZOETIS INC                     | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |   4787260 | NS      | $792243657.40  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc                          | AGILENT TECH INC               | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |   3576445 | NS      | $543905755.60  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                                      | ALKERMES PLC                   | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4619968 | NS      | $132315883.52  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Legend Biotech Corp                               | LEGEND BIOT-ADR                | CUSIP: N/A<br>LEI: 254900EIUFZTW136H859       | Long             | EC               | CORP              | US        |   1483204 | NS      | $74901802.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp                         | EDWARDS LIFE                   | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |   9662088 | NS      | $741082149.60  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Genmab A/S                                        | GENMAB A/S-S ADR               | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Long             | EC               | CORP              | US        |   2285855 | NS      | $89491223.25   | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Yifeng Pharmacy Chain Co Ltd                      | YIFENG PHARMA-A                | CUSIP: N/A<br>LEI: 300300CZZIF44N1EZO06       | Long             | EC               | CORP              | CN        |   6945794 | NS      | $58462898.02   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                   | ASTRAZENECA PLC                | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |  19440938 | NS      | $2547005791.16 | 5.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Molina Healthcare Inc                             | MOLINA HEALTHCAR               | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |    729664 | NS      | $227531125.12  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Holdings PLC                           | IMMUNOCORE HOLDI               | CUSIP: N/A<br>LEI: 213800IUE3DFS84BVN18       | Long             | EC               | CORP              | US        |   1149806 | NS      | $70448613.62   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc                        | VERTEX PHARM                   | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |   3181078 | NS      | $1027806301.80 | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                      | DANAHER CORP                   | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |   4433654 | NS      | $1172169444.52 | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corp                                      | GLAUKOS CORP                   | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |    934746 | NS      | $45849291.30   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ono Pharmaceutical Co Ltd                         | ONO PHARMA                     | CUSIP: N/A<br>LEI: 529900G26L4NG4GFJZ86       | Long             | EC               | CORP              | JP        |  19628460 | NS      | $425912043.51  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Royalty Pharma PLC                                | ROYALTY PHARMA-A               | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | US        |   3053455 | NS      | $119664901.45  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp                               | EXACT SCIENCES                 | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |   2807222 | NS      | $189543629.44  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics Inc                              | PTC THERAPEUTICS               | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |   1235744 | NS      | $56708292.16   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc                          | ACADIA HEALTHCAR               | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |   2711116 | NS      | $227787966.32  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Denali Therapeutics Inc                           | DENALI THERAPEUT               | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |   3056783 | NS      | $92528821.41   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Syneos Health Inc                                 | SYNEOS HEALTH IN               | CUSIP: 87166B102<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | EC               | CORP              | US        |   1911256 | NS      | $68652315.52   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc                       | APELLIS PHARMACE               | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |   3222912 | NS      | $169944149.76  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Agios Pharmaceuticals Inc                         | AGIOS PHARMACEUT               | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Long             | EC               | CORP              | US        |   5148413 | NS      | $151775215.24  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Terumo Corp                                       | TERUMO CORP                    | CUSIP: J83173104<br>LEI: 353800JX1R4582QVK932 | Long             | EC               | CORP              | JP        |   6976400 | NS      | $203085566.94  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                       | ALNYLAM PHARMACE               | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |   4718518 | NS      | $1068272475.20 | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Intellia Therapeutics Inc                         | INTELLIA THERAPE               | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |   1534651 | NS      | $65130588.44   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                       | VAXCYTE INC                    | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |   1271342 | NS      | $57655359.70   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirati Therapeutics Inc                           | MIRATI THERAPEUT               | CUSIP: 60468T105<br>LEI: 529900GYRW59IDQV6N54 | Long             | EC               | CORP              | US        |   1981533 | NS      | $105833677.53  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Bank USA                                     | HSBC TRIPARTY MTGE             | CUSIP: N/A<br>LEI: CYYGQCGNHMHPSMRL3R97       | Long             | RA               | CORP              | US        |   1500000 | PA      | $1500000.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Centene Corp                                      | CENTENE CORP                   | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |   8903692 | NS      | $678817478.08  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                                       | MODERNA INC                    | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |   3493282 | NS      | $615027228.92  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912796Z93<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50000000 | PA      | $49612500.02   | 0.10%             | 2023-04-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Karuna Therapeutics Inc                           | KARUNA THERAPEUT               | CUSIP: 48576A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    514899 | NS      | $102665711.61  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Oak Street Health Inc                             | OAK STREET HEALT               | CUSIP: 67181A107<br>LEI: 2549007CJE6GSEURLA30 | Long             | EC               | CORP              | US        |   2978154 | NS      | $86545155.24   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                               | ASCENDIS PHA-ADR               | CUSIP: N/A<br>LEI: 549300B66JN3W3J8GH73       | Long             | EC               | CORP              | US        |    942809 | NS      | $116983740.72  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                        | HUMANA INC                     | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |   2102867 | NS      | $1076037043.90 | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Syndax Pharmaceuticals Inc                        | SYNDAX PHARMACEU               | CUSIP: 87164F105<br>LEI: 529900OF94TRHKZVBS87 | Long             | EC               | CORP              | US        |   3092082 | NS      | $88742753.40   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                            | UNITEDHEALTH GRP               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |   5901234 | NS      | $2945837000.46 | 6.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals Inc                      | IRONWOOD PHARMAC               | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |  10902066 | NS      | $125591800.32  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                      | INSULET CORP                   | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |   1720456 | NS      | $494321417.92  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Bank USA                                     | HSBC TRIPARTY TREAS            | CUSIP: N/A<br>LEI: CYYGQCGNHMHPSMRL3R97       | Long             | RA               | CORP              | US        |  54700000 | PA      | $54700000.00   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Genus PLC                                         | GENUS PLC                      | CUSIP: G3827X105<br>LEI: 54930022EOITNKSIGH56 | Long             | EC               | CORP              | GB        |   1004385 | NS      | $36024198.97   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| REVOLUTION Medicines Inc                          | REVOLUTION MEDIC               | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |   2991103 | NS      | $79982094.22   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** VANGUARD SPECIALIZED FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer