Semiannual
Report |
February 28, 2022
Vanguard
Russell 2000 Index Funds
| Vanguard Russell 2000 Index Fund |
| Vanguard Russell 2000 Value Index Fund |
| Vanguard Russell 2000 Growth Index Fund |
Contents
|
About Your Fund’s Expenses
|
1 |
|
Russell 2000 Index Fund
|
3 |
|
Russell 2000 Value Index Fund
|
36 |
|
Russell 2000 Growth Index Fund
|
62 |
About Your
Fund’s Expenses
As
a shareholder of the fund, you incur ongoing costs, which include costs for
portfolio management, administrative services, and shareholder reports (like
this one), among others. Operating expenses, which are deducted from a fund’s
gross income, directly reduce the investment return of the fund.
A
fund’s expenses are expressed as a percentage of its average net assets. This
figure is known as the expense ratio. The following examples are intended to
help you understand the ongoing costs (in dollars) of investing in your fund and
to compare these costs with those of other mutual funds. The examples are based
on an investment of $1,000 made at the beginning of the period shown and held
for the entire period.
The
accompanying table illustrates your fund’s costs in two ways:
| • | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
To
do so, simply divide your account value by $1,000 (for example, an $8,600
account value divided by $1,000 = 8.6), then multiply the result by the number
given for your fund under the heading ”Expenses Paid During Period.“
| • | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Note
that the expenses shown in the table are meant to highlight and help you compare
ongoing costs only and do not reflect
transaction costs incurred by the fund for buying and selling securities.
Further, the expenses do not include any purchase, redemption, or account
service fees described in the fund prospectus. If such fees were applied to your
account, your costs would be higher. Your fund does not carry a “sales
load.”
The
calculations assume no shares were bought or sold during the period. Your actual
costs may have been higher or lower, depending on the amount of your investment
and the timing of any purchases or redemptions.
You
can find more information about the fund’s expenses, including annual expense
ratios, in the Financial Statements section of this report. For additional
information on operating expenses and other shareholder costs, please refer to
your fund’s current prospectus.
1
| Six Months Ended February 28, 2022 | |||
| Beginning Account Value 8/31/2021 |
Ending Account Value 2/28/2022 |
Expenses Paid During Period | |
| Based on Actual Fund Return | |||
| Russell 2000 Index Fund | |||
| ETF Shares | $1,000.00 | $905.20 | $0.47 |
| Institutional Shares | 1,000.00 | 905.20 | 0.38 |
| Russell 2000 Value Index Fund | |||
| ETF Shares | $1,000.00 | $978.20 | $0.74 |
| Institutional Shares | 1,000.00 | 978.50 | 0.39 |
| Russell 2000 Growth Index Fund | |||
| ETF Shares | $1,000.00 | $836.20 | $0.68 |
| Institutional Shares | 1,000.00 | 836.40 | 0.36 |
| Based on Hypothetical 5% Yearly Return | |||
| Russell 2000 Index Fund | |||
| ETF Shares | $1,000.00 | $1,024.30 | $0.50 |
| Institutional Shares | 1,000.00 | 1,024.40 | 0.40 |
| Russell 2000 Value Index Fund | |||
| ETF Shares | $1,000.00 | $1,024.05 | $0.75 |
| Institutional Shares | 1,000.00 | 1,024.40 | 0.40 |
| Russell 2000 Growth Index Fund | |||
| ETF Shares | $1,000.00 | $1,024.05 | $0.75 |
| Institutional Shares | 1,000.00 | 1,024.40 | 0.40 |
The
calculations are based on expenses incurred in the most recent six-month period.
The funds' annualized six-month expense ratios for that period are: for the
Russell 2000 Index Fund, 0.10% for ETF Shares and 0.08% for Institutional
Shares; for the Russell 2000 Value Index Fund, 0.15% for ETF Shares and 0.08%
for Institutional Shares; and for the Russell 2000 Growth Index Fund, 0.15% for
ETF Shares and 0.08% for Institutional Shares. The dollar amounts shown as
“Expenses Paid" are equal to the annualized expense ratio multiplied by the
average account value over the period, multiplied by the number of days in the
most recent six-month period, then divided by the number of days in the most
recent 12-month period (181/365).
2
Russell
2000 Index Fund
Fund
Allocation
As
of February 28, 2022
| Basic Materials | 4.0% |
| Consumer Discretionary | 14.3 |
| Consumer Staples | 3.1 |
| Energy | 5.9 |
| Financials | 16.7 |
| Health Care | 16.1 |
| Industrials | 15.3 |
| Real Estate | 7.5 |
| Technology | 12.2 |
| Telecommunications | 1.7 |
| Utilities | 3.2 |
| Other | 0.0 |
The
table reflects the fund’s investments, except short-term investments and
derivatives. Sector categories are based on the Industry Classification
Benchmark (“ICB”), except for the “Other” category (if applicable), which
includes securities that have not been provided an ICB classification as of the
effective reporting period.
The
fund may invest in derivatives (such as futures and swap contracts) for various
reasons, including, but not limited to, attempting to remain fully invested and
tracking its target index as closely as possible.
The
Industry Classification Benchmark (“ICB”) is owned by FTSE. FTSE does not accept
any liability to any person for any loss or damage arising out of any error or
omission in the ICB.
3
Russell
2000 Index Fund
Financial
Statements (unaudited)
Schedule
of Investments
As
of February 28, 2022
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 Value• ($000) | ||
| Common Stocks (99.4%) | |||
| Basic Materials (4.0%) | |||
| * | RBC Bearings Inc. | 75,551 | 14,646 |
| UFP Industries Inc. | 162,774 | 13,958 | |
| Avient Corp. | 246,050 | 12,891 | |
| Commercial Metals Co. | 324,588 | 12,513 | |
| Balchem Corp. | 87,084 | 12,047 | |
| Cabot Corp. | 151,544 | 11,087 | |
| * | Livent Corp. | 437,301 | 10,298 |
| Sensient Technologies Corp. | 114,343 | 9,391 | |
| *,1 | MP Materials Corp. | 205,071 | 9,355 |
| * | Arconic Corp. | 288,293 | 8,851 |
| Mueller Industries Inc. | 151,701 | 8,655 | |
| Boise Cascade Co. | 106,338 | 8,501 | |
| Hecla Mining Co. | 1,434,478 | 8,263 | |
| * | Ingevity Corp. | 107,206 | 7,315 |
| Quaker Chemical Corp. | 36,453 | 6,766 | |
| * | Constellium SE Class A | 336,149 | 6,531 |
| Innospec Inc. | 66,240 | 6,326 | |
| Tronox Holdings plc Class A | 309,357 | 6,280 | |
| Minerals Technologies Inc. | 89,534 | 6,266 | |
| Stepan Co. | 58,286 | 6,040 | |
| Trinseo plc | 105,271 | 5,470 | |
| GrafTech International Ltd. | 540,944 | 5,453 | |
| Compass Minerals International Inc. | 92,523 | 5,424 | |
| Worthington Industries Inc. | 89,315 | 5,093 | |
| Carpenter Technology Corp. | 128,538 | 4,935 | |
| Materion Corp. | 55,106 | 4,604 | |
| * | Novagold Resources Inc. | 640,750 | 4,472 |
| * | GCP Applied Technologies Inc. | 133,016 | 4,201 |
| Kaiser Aluminum Corp. | 42,687 | 4,119 | |
| * | Kraton Corp. | 84,998 | 3,923 |
| *,1 | Energy Fuels Inc. | 417,881 | 3,414 |
| Schnitzer Steel Industries Inc. Class A | 70,113 | 3,411 | |
| * | Century Aluminum Co. | 138,635 | 3,275 |
| * | Coeur Mining Inc. | 691,422 | 2,973 |
| AdvanSix Inc. | 73,857 | 2,959 | |
| * | US Silica Holdings Inc. | 198,476 | 2,870 |
| * | Uranium Energy Corp. | 691,597 | 2,759 |
| Schweitzer-Mauduit International Inc. | 84,686 | 2,644 | |
| Shares | Market Value• ($000) | ||
| Orion Engineered Carbons SA | 163,489 | 2,541 | |
| Hawkins Inc. | 51,910 | 2,349 | |
| * | TimkenSteel Corp. | 124,343 | 2,242 |
| * | Amyris Inc. | 477,891 | 2,179 |
| Verso Corp. Class A | 71,827 | 1,904 | |
| Neenah Inc. | 45,655 | 1,778 | |
| Glatfelter Corp. | 118,553 | 1,629 | |
| Koppers Holdings Inc. | 56,133 | 1,607 | |
| * | Intrepid Potash Inc. | 26,704 | 1,519 |
| Ecovyst Inc. | 138,482 | 1,514 | |
| * | Clearwater Paper Corp. | 44,575 | 1,285 |
| Haynes International Inc. | 33,682 | 1,231 | |
| Omega Flex Inc. | 8,402 | 1,220 | |
| American Vanguard Corp. | 78,947 | 1,190 | |
| *,1 | Meta Materials Inc. | 548,721 | 1,180 |
| Ryerson Holding Corp. | 44,117 | 1,152 | |
| * | Alto Ingredients Inc. | 192,577 | 1,123 |
| * | Rayonier Advanced Materials Inc. | 166,435 | 977 |
| * | Zymergen Inc. | 218,063 | 835 |
| Tredegar Corp. | 71,806 | 826 | |
| * | Northwest Pipe Co. | 26,153 | 745 |
| * | Ur-Energy Inc. | 496,006 | 734 |
| * | Unifi Inc. | 37,962 | 713 |
| Olympic Steel Inc. | 25,528 | 683 | |
| FutureFuel Corp. | 70,738 | 521 | |
| * | Gatos Silver Inc. | 124,952 | 421 |
| * | Perpetua Resources Corp. | 86,199 | 310 |
| * | NN Inc. | 117,118 | 303 |
| * | Polymet Mining Corp. | 79,153 | 215 |
| * | Marrone Bio Innovations Inc. | 274,694 | 189 |
| Valhi Inc. | 6,772 | 172 | |
| 293,266 | |||
| Consumer Discretionary (14.2%) | |||
| *,1 | AMC Entertainment Holdings Inc. Class A | 1,394,457 | 26,299 |
| * | BJ's Wholesale Club Holdings Inc. | 370,365 | 23,285 |
| Macy's Inc. | 848,875 | 22,003 | |
| * | Avis Budget Group Inc. | 111,671 | 20,485 |
| Texas Roadhouse Inc. Class A | 189,103 | 17,948 | |
| * | Scientific Games Corp. Class A | 259,824 | 16,348 |
| TEGNA Inc. | 597,565 | 13,696 | |
| * | Fox Factory Holding Corp. | 114,151 | 13,472 |
| * | Helen of Troy Ltd. | 65,078 | 13,385 |
4
Russell
2000 Index Fund
| Shares | Market Value• ($000) | ||
| * | Crocs Inc. | 157,462 | 13,184 |
| * | Asbury Automotive Group Inc. | 62,576 | 12,147 |
| * | Hilton Grand Vacations Inc. | 230,931 | 11,976 |
| Murphy USA Inc. | 65,316 | 11,805 | |
| Wingstop Inc. | 80,593 | 11,714 | |
| * | Goodyear Tire & Rubber Co. | 746,955 | 11,570 |
| * | Adient plc | 256,066 | 11,459 |
| Signet Jewelers Ltd. | 142,859 | 10,072 | |
| * | Meritage Homes Corp. | 99,924 | 9,851 |
| * | SeaWorld Entertainment Inc. | 139,255 | 9,663 |
| Papa John's International Inc. | 89,399 | 9,550 | |
| * | Taylor Morrison Home Corp. Class A | 323,600 | 9,546 |
| * | Skyline Champion Corp. | 141,824 | 9,536 |
| Steven Madden Ltd. | 218,114 | 9,305 | |
| * | Visteon Corp. | 75,057 | 9,020 |
| * | Sonos Inc. | 325,106 | 8,905 |
| American Eagle Outfitters Inc. | 411,548 | 8,675 | |
| Group 1 Automotive Inc. | 47,486 | 8,639 | |
| Cracker Barrel Old Country Store Inc. | 63,997 | 8,593 | |
| LCI Industries | 66,925 | 8,334 | |
| KB Home | 214,866 | 8,296 | |
| International Game Technology plc | 269,820 | 8,262 | |
| Red Rock Resorts Inc. Class A | 161,289 | 8,110 | |
| * | National Vision Holdings Inc. | 220,325 | 8,079 |
| MillerKnoll Inc. | 200,649 | 7,801 | |
| * | Callaway Golf Co. | 312,430 | 7,730 |
| * | Gentherm Inc. | 89,919 | 7,629 |
| * | Shake Shack Inc. Class A | 101,190 | 7,561 |
| * | LGI Homes Inc. | 58,366 | 7,362 |
| Dana Inc. | 392,342 | 7,305 | |
| * | Allegiant Travel Co. | 41,461 | 7,218 |
| * | Houghton Mifflin Harcourt Co. | 343,049 | 7,187 |
| Kontoor Brands Inc. | 140,279 | 6,949 | |
| * | Boot Barn Holdings Inc. | 78,945 | 6,870 |
| MDC Holdings Inc. | 154,269 | 6,840 | |
| * | Cavco Industries Inc. | 24,910 | 6,791 |
| * | Academy Sports & Outdoors Inc. | 209,746 | 6,789 |
| * | Tri Pointe Homes Inc. | 301,254 | 6,739 |
| * | Dorman Products Inc. | 71,235 | 6,655 |
| * | Spirit Airlines Inc. | 265,121 | 6,649 |
| * | Overstock.com Inc. | 115,961 | 6,598 |
| * | iHeartMedia Inc. Class A | 302,109 | 6,480 |
| Graham Holdings Co. Class B | 10,345 | 6,219 | |
| * | KAR Auction Services Inc. | 326,306 | 6,024 |
| * | Abercrombie & Fitch Co. Class A | 157,921 | 6,014 |
| Rush Enterprises Inc. Class A | 114,565 | 5,951 | |
| Bloomin' Brands Inc. | 239,476 | 5,894 | |
| John Wiley & Sons Inc. Class A | 116,427 | 5,857 | |
| * | Vista Outdoor Inc. | 155,285 | 5,660 |
| Winnebago Industries Inc. | 87,392 | 5,599 |
| Shares | Market Value• ($000) | ||
| * | Madison Square Garden Entertainment Corp. | 70,625 | 5,534 |
| * | ODP Corp. | 124,471 | 5,477 |
| * | Everi Holdings Inc. | 231,021 | 5,406 |
| * | PROG Holdings Inc. | 176,331 | 5,403 |
| Gray Television Inc. | 230,334 | 5,397 | |
| *,1 | Fisker Inc. | 441,770 | 5,390 |
| * | Cheesecake Factory Inc. | 124,556 | 5,330 |
| * | Sally Beauty Holdings Inc. | 304,075 | 5,254 |
| * | Knowles Corp. | 240,748 | 5,243 |
| * | Brinker International Inc. | 122,766 | 5,222 |
| Century Communities Inc. | 81,008 | 5,162 | |
| * | Cinemark Holdings Inc. | 292,167 | 5,125 |
| * | Urban Outfitters Inc. | 185,100 | 5,092 |
| Jack in the Box Inc. | 58,881 | 5,080 | |
| * | Cardlytics Inc. | 87,370 | 5,067 |
| * | Dave & Buster's Entertainment Inc. | 116,792 | 5,062 |
| Rent-A-Center Inc. | 177,935 | 5,055 | |
| Wolverine World Wide Inc. | 219,239 | 5,049 | |
| * | Central Garden & Pet Co. Class A | 109,067 | 4,803 |
| HNI Corp. | 117,665 | 4,788 | |
| *,1 | Bed Bath & Beyond Inc. | 274,010 | 4,628 |
| * | Revolve Group Inc. | 97,091 | 4,605 |
| PriceSmart Inc. | 63,318 | 4,604 | |
| * | Lions Gate Entertainment Corp. Class B | 319,099 | 4,547 |
| * | iRobot Corp. | 72,339 | 4,497 |
| Inter Parfums Inc. | 48,384 | 4,494 | |
| Monro Inc. | 89,465 | 4,176 | |
| Acushnet Holdings Corp. | 92,491 | 4,051 | |
| * | Coursera Inc. | 196,754 | 4,000 |
| Dillard's Inc. Class A | 15,782 | 3,957 | |
| * | Sleep Number Corp. | 59,809 | 3,929 |
| * | Malibu Boats Inc. Class A | 56,080 | 3,907 |
| Strategic Education Inc. | 65,950 | 3,892 | |
| Oxford Industries Inc. | 43,388 | 3,835 | |
| * | M/I Homes Inc. | 77,328 | 3,812 |
| * | SkyWest Inc. | 134,545 | 3,782 |
| * | Stride Inc. | 112,135 | 3,765 |
| Sinclair Broadcast Group Inc. Class A | 124,107 | 3,723 | |
| Dine Brands Global Inc. | 43,956 | 3,685 | |
| * | Clear Channel Outdoor Holdings Inc. | 981,654 | 3,671 |
| * | Tenneco Inc. Class A | 183,794 | 3,544 |
| * | XPEL Inc. | 48,494 | 3,521 |
| La-Z-Boy Inc. | 118,960 | 3,471 | |
| Camping World Holdings Inc. Class A | 112,716 | 3,462 | |
| * | elf Beauty Inc. | 130,356 | 3,445 |
| * | EW Scripps Co. Class A | 154,704 | 3,444 |
| Sturm Ruger & Co. Inc. | 46,308 | 3,353 | |
| * | G-III Apparel Group Ltd. | 119,104 | 3,304 |
| * | AMC Networks Inc. Class A | 78,402 | 3,250 |
| Franchise Group Inc. | 76,692 | 3,233 | |
| * | Bally's Corp. | 88,133 | 3,175 |
| Sonic Automotive Inc. Class A | 58,548 | 3,145 | |
| * | Clean Energy Fuels Corp. | 418,180 | 3,040 |
| Big Lots Inc. | 86,783 | 3,017 | |
| * | GoPro Inc. Class A | 348,851 | 3,000 |
| Scholastic Corp. | 71,227 | 2,997 | |
| * | Cars.com Inc. | 184,651 | 2,988 |
5
Russell
2000 Index Fund
| Shares | Market Value• ($000) | ||
| Laureate Education Inc. Class A | 267,710 | 2,902 | |
| Buckle Inc. | 80,582 | 2,901 | |
| Steelcase Inc. Class A | 234,932 | 2,859 | |
| * | American Axle & Manufacturing Holdings Inc. | 303,853 | 2,814 |
| * | Adtalem Global Education Inc. | 134,012 | 2,785 |
| * | Imax Corp. | 134,542 | 2,782 |
| Matthews International Corp. Class A | 83,436 | 2,768 | |
| * | Stitch Fix Inc. Class A | 220,588 | 2,768 |
| * | Monarch Casino & Resort Inc. | 35,485 | 2,764 |
| Arko Corp. | 325,050 | 2,714 | |
| * | Denny's Corp. | 166,880 | 2,640 |
| * | Golden Entertainment Inc. | 46,341 | 2,638 |
| * | Hawaiian Holdings Inc. | 136,138 | 2,611 |
| * | MarineMax Inc. | 56,944 | 2,606 |
| * | Zumiez Inc. | 57,705 | 2,567 |
| * | Genesco Inc. | 39,992 | 2,565 |
| * | Liberty Media Corp.- Liberty Braves Class C | 101,865 | 2,516 |
| Standard Motor Products Inc. | 56,353 | 2,463 | |
| *,1 | Blink Charging Co. | 98,779 | 2,428 |
| * | Lions Gate Entertainment Corp. Class A | 156,661 | 2,406 |
| * | Tupperware Brands Corp. | 131,944 | 2,405 |
| * | Children's Place Inc. | 37,984 | 2,391 |
| Guess? Inc. | 108,339 | 2,373 | |
| * | Sun Country Airlines Holdings Inc. | 87,260 | 2,360 |
| Smith & Wesson Brands Inc. | 129,746 | 2,287 | |
| * | PowerSchool Holdings Inc. Class A | 144,866 | 2,282 |
| Ruth's Hospitality Group Inc. | 88,648 | 2,199 | |
| Winmark Corp. | 9,393 | 2,125 | |
| * | Designer Brands Inc. Class A | 162,718 | 2,123 |
| * | Arlo Technologies Inc. | 226,964 | 2,106 |
| Caleres Inc. | 99,638 | 2,068 | |
| * | 2U Inc. | 195,961 | 2,058 |
| Carriage Services Inc. Class A | 41,724 | 2,053 | |
| Interface Inc. Class A | 156,909 | 2,048 | |
| * | Accel Entertainment Inc. Class A | 152,298 | 1,994 |
| * | Perdoceo Education Corp. | 189,135 | 1,980 |
| * | BJ's Restaurants Inc. | 60,943 | 1,954 |
| * | Green Brick Partners Inc. | 83,387 | 1,934 |
| * | RealReal Inc. | 214,920 | 1,915 |
| * | Viad Corp. | 54,538 | 1,906 |
| * | Gannett Co. Inc. | 380,801 | 1,889 |
| Hibbett Inc. | 40,299 | 1,817 | |
| Aaron's Co. Inc. | 84,595 | 1,776 | |
| * | Chuy's Holdings Inc. | 53,546 | 1,746 |
| * | Fossil Group Inc. | 128,780 | 1,741 |
| A-Mark Precious Metals Inc. | 24,271 | 1,740 | |
| *,1 | Corsair Gaming Inc. | 73,877 | 1,705 |
| Movado Group Inc. | 42,185 | 1,663 | |
| *,1 | Canoo Inc. | 286,020 | 1,642 |
| * | Life Time Group Holdings Inc. | 105,155 | 1,635 |
| Shares | Market Value• ($000) | ||
| Clarus Corp. | 71,402 | 1,626 | |
| * | Quotient Technology Inc. | 242,895 | 1,613 |
| *,1 | Portillo's Inc. Class A | 63,846 | 1,600 |
| Ethan Allen Interiors Inc. | 60,794 | 1,584 | |
| * | America's Car-Mart Inc. | 16,287 | 1,566 |
| * | Boston Omaha Corp. Class A | 54,807 | 1,534 |
| * | Chico's FAS Inc. | 325,522 | 1,530 |
| * | QuinStreet Inc. | 135,607 | 1,526 |
| * | Latham Group Inc. | 85,843 | 1,501 |
| * | OneSpaWorld Holdings Ltd. | 144,726 | 1,496 |
| * | Rush Street Interactive Inc. | 142,064 | 1,468 |
| * | Lindblad Expeditions Holdings Inc. | 82,600 | 1,465 |
| * | Lovesac Co. | 34,428 | 1,463 |
| RCI Hospitality Holdings Inc. | 22,465 | 1,458 | |
| * | Master Craft Boat Holdings Inc. | 50,502 | 1,446 |
| * | WW International Inc. | 141,418 | 1,441 |
| * | TravelCenters of America Inc. | 33,647 | 1,421 |
| OneWater Marine Inc. Class A | 27,879 | 1,417 | |
| Shoe Carnival Inc. | 47,616 | 1,388 | |
| * | Hovnanian Enterprises Inc. Class A | 14,063 | 1,352 |
| * | Sportsman's Warehouse Holdings Inc. | 117,479 | 1,340 |
| * | Beazer Homes USA Inc. | 79,054 | 1,294 |
| * | Party City Holdco Inc. | 298,343 | 1,292 |
| * | Stagwell Inc. | 167,514 | 1,270 |
| * | Funko Inc. Class A | 72,551 | 1,267 |
| * | Central Garden & Pet Co. | 26,728 | 1,265 |
| Haverty Furniture Cos. Inc. | 44,054 | 1,252 | |
| * | LL Flooring Holdings Inc. | 77,658 | 1,247 |
| * | Liquidity Services Inc. | 71,423 | 1,231 |
| *,1 | Frontier Group Holdings Inc. | 93,714 | 1,207 |
| Johnson Outdoors Inc. Class A | 14,149 | 1,167 | |
| * | Stoneridge Inc. | 70,341 | 1,161 |
| * | Universal Electronics Inc. | 34,212 | 1,137 |
| * | Marcus Corp. | 62,265 | 1,132 |
| * | Selectquote Inc. | 361,574 | 1,125 |
| * | 1-800-Flowers.com Inc. Class A | 71,961 | 1,114 |
| * | AMMO Inc. | 235,177 | 1,108 |
| * | CarParts.com Inc. | 131,626 | 1,102 |
| * | Bluegreen Vacations Holding Class A | 38,630 | 1,095 |
| Global Industrial Co. | 34,391 | 1,093 | |
| *,1 | Lordstown Motors Corp. Class A | 416,345 | 1,070 |
| * | Daily Journal Corp. | 3,251 | 1,051 |
| Entravision Communications Corp. Class A | 162,794 | 1,042 | |
| * | American Public Education Inc. | 50,784 | 1,014 |
| Del Taco Restaurants Inc. | 80,555 | 1,005 | |
| * | Audacy Inc. Class A | 323,097 | 1,002 |
| * | Turtle Beach Corp. | 41,365 | 983 |
| Cato Corp. Class A | 54,109 | 952 |
6
Russell
2000 Index Fund
| Shares | Market Value• ($000) | ||
| * | Golden Nugget Online Gaming Inc. | 108,844 | 936 |
| 1 | Big 5 Sporting Goods Corp. | 56,251 | 932 |
| * | Purple Innovation Inc. Class A | 154,503 | 930 |
| 1 | Krispy Kreme Inc. | 60,570 | 903 |
| Kimball International Inc. Class B | 97,267 | 902 | |
| * | Century Casinos Inc. | 73,206 | 900 |
| *,1 | Vuzix Corp. | 157,830 | 893 |
| * | Conn's Inc. | 48,321 | 886 |
| * | European Wax Center Inc. Class A | 35,564 | 884 |
| * | Citi Trends Inc. | 23,296 | 869 |
| * | Integral Ad Science Holding Corp. | 46,447 | 869 |
| * | F45 Training Holdings Inc. | 55,255 | 850 |
| Rush Enterprises Inc. Class B | 16,865 | 827 | |
| * | Motorcar Parts of America Inc. | 51,105 | 825 |
| Tilly's Inc. Class A | 61,777 | 785 | |
| * | Full House Resorts Inc. | 87,671 | 772 |
| * | Container Store Group Inc. | 85,183 | 752 |
| * | Red Robin Gourmet Burgers Inc. | 42,793 | 751 |
| * | Noodles & Co. Class A | 109,338 | 748 |
| * | Instructure Holdings Inc. | 32,961 | 739 |
| * | Snap One Holdings Corp. | 36,519 | 717 |
| Rocky Brands Inc. | 18,433 | 710 | |
| * | El Pollo Loco Holdings Inc. | 52,041 | 691 |
| *,1 | Genius Brands International Inc. | 773,353 | 687 |
| * | Lands' End Inc. | 39,358 | 668 |
| * | Barnes & Noble Education Inc. | 121,594 | 666 |
| Hooker Furnishings Corp. | 31,388 | 659 | |
| * | ONE Group Hospitality Inc. | 55,811 | 655 |
| Superior Group of Cos. Inc. | 31,453 | 645 | |
| * | Alta Equipment Group Inc. | 50,814 | 641 |
| *,1 | Romeo Power Inc. | 346,564 | 634 |
| * | Thryv Holdings Inc. | 20,681 | 629 |
| * | PlayAGS Inc. | 74,863 | 627 |
| * | NEOGAMES SA | 27,575 | 623 |
| * | Liberty Media Corp.- Liberty Braves Class A | 23,868 | 612 |
| * | Traeger Inc. | 61,960 | 612 |
| * | American Outdoor Brands Inc. | 38,869 | 608 |
| * | Eastman Kodak Co. | 122,708 | 585 |
| * | Kura Sushi USA Inc. Class A | 10,862 | 572 |
| * | Cooper-Standard Holdings Inc. | 44,616 | 568 |
| * | Legacy Housing Corp. | 21,830 | 556 |
| 1 | Weber Inc. Class A | 47,646 | 544 |
| * | Xponential Fitness Inc. Class A | 25,624 | 537 |
| * | Vera Bradley Inc. | 70,838 | 536 |
| * | Kirkland's Inc. | 35,709 | 494 |
| * | Fiesta Restaurant Group Inc. | 48,493 | 488 |
| Shares | Market Value• ($000) | ||
| * | Udemy Inc. | 36,969 | 488 |
| National CineMedia Inc. | 161,797 | 481 | |
| * | VOXX International Corp. Class A | 42,757 | 459 |
| * | Duluth Holdings Inc. Class B | 32,576 | 454 |
| Lifetime Brands Inc. | 34,220 | 448 | |
| Bassett Furniture Industries Inc. | 25,396 | 446 | |
| *,1 | Arcimoto Inc. | 75,243 | 442 |
| Nathan's Famous Inc. | 7,553 | 439 | |
| * | First Watch Restaurant Group Inc. | 30,112 | 437 |
| * | Liberty TripAdvisor Holdings Inc. Class A | 199,653 | 423 |
| * | Mesa Air Group Inc. | 93,822 | 408 |
| * | CarLotz Inc. | 198,432 | 401 |
| * | Nautilus Inc. | 81,888 | 399 |
| Flexsteel Industries Inc. | 18,124 | 391 | |
| * | Lazydays Holdings Inc. | 20,538 | 374 |
| Escalade Inc. | 27,051 | 358 | |
| 1 | JOANN Inc. | 31,449 | 358 |
| *,1 | Shift Technologies Inc. | 170,258 | 344 |
| *,1 | Solo Brands Inc. Class A | 31,167 | 329 |
| Hamilton Beach Brands Holding Co. Class A | 20,399 | 308 | |
| * | Biglari Holdings Inc. Class B | 2,203 | 303 |
| * | Torrid Holdings Inc. | 34,464 | 302 |
| * | Drive Shack Inc. | 226,278 | 301 |
| * | Outbrain Inc. | 22,623 | 295 |
| * | Eros STX Global Corp. | 87,477 | 277 |
| *,1 | Rent the Runway Inc. Class A | 45,350 | 275 |
| Marine Products Corp. | 21,675 | 262 | |
| * | CuriosityStream Inc. | 71,467 | 262 |
| *,1 | Esports Technologies Inc. | 30,094 | 249 |
| Carrols Restaurant Group Inc. | 91,655 | 242 | |
| * | Emerald Holding Inc. | 66,389 | 238 |
| * | Stonemor Inc. | 88,235 | 229 |
| *,1 | Aterian Inc. | 70,065 | 209 |
| * | Regis Corp. | 113,352 | 205 |
| * | Chicken Soup For The Soul Entertainment Inc. | 19,827 | 192 |
| * | Revlon Inc. Class A | 19,537 | 189 |
| * | aka Brands Holding Corp. | 24,985 | 188 |
| * | Landsea Homes Corp. | 28,398 | 185 |
| *,1 | XL Fleet Corp. | 93,856 | 183 |
| * | Fluent Inc. | 121,472 | 172 |
| * | Hall of Fame Resort & Entertainment Co. | 150,662 | 160 |
| * | Lulu's Fashion Lounge Holdings Inc. | 15,083 | 150 |
| NL Industries Inc. | 21,940 | 140 | |
| *,1 | LiveOne Inc. | 163,260 | 140 |
| * | HyreCar Inc. | 47,673 | 130 |
| *,1 | Dutch Bros Inc. Class A | 1,989 | 96 |
| CompX International Inc. | 4,275 | 94 | |
| *,1 | Sweetgreen Inc. Class A | 2,581 | 65 |
| * | Arhaus Inc. | 9,054 | 60 |
| * | Brilliant Earth Group Inc. Class A | 4,279 | 39 |
| * | Digital Media Solutions Inc. Class A | 7,973 | 27 |
| * | Allbirds Inc. Class A | 1,797 | 14 |
| 1,040,773 |
7
Russell
2000 Index Fund
| Shares | Market Value• ($000) | ||
| Consumer Staples (3.1%) | |||
| * | Performance Food Group Co. | 409,628 | 22,956 |
| Sanderson Farms Inc. | 54,848 | 9,795 | |
| * | Celsius Holdings Inc. | 145,550 | 9,299 |
| * | Simply Good Foods Co. | 229,837 | 9,108 |
| * | Sprouts Farmers Market Inc. | 304,454 | 8,671 |
| Lancaster Colony Corp. | 51,302 | 8,630 | |
| * | Hostess Brands Inc. Class A | 373,727 | 8,050 |
| WD-40 Co. | 36,935 | 7,826 | |
| J & J Snack Foods Corp. | 39,831 | 6,521 | |
| Coca-Cola Consolidated Inc. | 12,762 | 6,342 | |
| Nu Skin Enterprises Inc. Class A | 134,129 | 6,222 | |
| Primo Water Corp. | 424,385 | 6,171 | |
| Energizer Holdings Inc. | 183,577 | 6,130 | |
| * | United Natural Foods Inc. | 150,558 | 6,057 |
| Medifast Inc. | 31,080 | 5,781 | |
| * | TreeHouse Foods Inc. | 140,569 | 5,517 |
| Edgewell Personal Care Co. | 146,505 | 5,227 | |
| B&G Foods Inc. | 172,893 | 5,118 | |
| Cal-Maine Foods Inc. | 110,036 | 4,871 | |
| * | Beauty Health Co. | 232,934 | 4,514 |
| Vector Group Ltd. | 388,386 | 4,354 | |
| Andersons Inc. | 85,025 | 3,877 | |
| Universal Corp. | 65,006 | 3,517 | |
| Ingles Markets Inc. Class A | 37,894 | 3,116 | |
| MGP Ingredients Inc. | 38,158 | 3,038 | |
| * | USANA Health Sciences Inc. | 32,410 | 2,852 |
| National Beverage Corp. | 63,441 | 2,792 | |
| * | Chefs' Warehouse Inc. | 84,511 | 2,776 |
| *,1 | BellRing Brands Inc. Class A | 107,573 | 2,751 |
| Weis Markets Inc. | 44,263 | 2,730 | |
| SpartanNash Co. | 96,631 | 2,719 | |
| Utz Brands Inc. | 159,438 | 2,431 | |
| Fresh Del Monte Produce Inc. | 90,341 | 2,338 | |
| ACCO Brands Corp. | 251,530 | 2,163 | |
| * | Hydrofarm Holdings Group Inc. | 104,890 | 2,124 |
| Calavo Growers Inc. | 46,238 | 1,974 | |
| John B Sanfilippo & Son Inc. | 24,081 | 1,915 | |
| * | Duckhorn Portfolio Inc. | 97,085 | 1,905 |
| *,1 | Tattooed Chef Inc. | 127,513 | 1,548 |
| PetMed Express Inc. | 54,763 | 1,476 | |
| Tootsie Roll Industries Inc. | 41,310 | 1,394 | |
| *,1 | Rite Aid Corp. | 150,113 | 1,375 |
| * | Honest Co. Inc. | 230,411 | 1,332 |
| Turning Point Brands Inc. | 39,206 | 1,314 | |
| * | Mission Produce Inc. | 99,820 | 1,296 |
| *,1 | GrowGeneration Corp. | 148,761 | 1,251 |
| *,1 | PLBY Group Inc. | 77,699 | 1,237 |
| *,1 | 22nd Century Group Inc. | 432,985 | 1,013 |
| * | Veru Inc. | 172,611 | 965 |
| * | Whole Earth Brands Inc. | 100,640 | 955 |
| * | Vital Farms Inc. | 66,761 | 951 |
| * | Sovos Brands Inc. | 69,743 | 847 |
| * | Landec Corp. | 71,743 | 827 |
| * | Seneca Foods Corp. Class A | 16,578 | 825 |
| Shares | Market Value• ($000) | ||
| *,1 | AppHarvest Inc. | 191,215 | 730 |
| Limoneira Co. | 42,419 | 619 | |
| * | HF Foods Group Inc. | 98,045 | 613 |
| Nature's Sunshine Products Inc. | 32,468 | 569 | |
| Village Super Market Inc. Class A | 23,431 | 534 | |
| Oil-Dri Corp. of America | 14,298 | 442 | |
| Natural Grocers by Vitamin Cottage Inc. | 25,657 | 435 | |
| * | Vita Coco Co. Inc. | 29,197 | 338 |
| *,1 | NewAge Inc. | 365,521 | 247 |
| * | AquaBounty Technologies Inc. | 143,736 | 229 |
| * | Zevia PBC Class A | 27,669 | 173 |
| *,1 | Laird Superfood Inc. | 17,269 | 106 |
| * | MedAvail Holdings Inc. | 32,186 | 39 |
| * | Greenlane Holdings Inc. Class A | 44,596 | 24 |
| * | Real Good Food Co. Inc. | 2,268 | 14 |
| 225,896 | |||
| Energy (5.9%) | |||
| Ovintiv Inc. (XNYS) | 708,296 | 32,475 | |
| Chesapeake Energy Corp. | 283,721 | 21,917 | |
| * | Antero Resources Corp. | 773,241 | 17,730 |
| PDC Energy Inc. | 263,506 | 17,001 | |
| * | Range Resources Corp. | 646,156 | 14,829 |
| Matador Resources Co. | 298,952 | 14,828 | |
| Murphy Oil Corp. | 395,621 | 13,716 | |
| * | Southwestern Energy Co. | 2,746,382 | 13,704 |
| ChampionX Corp. | 547,714 | 11,727 | |
| SM Energy Co. | 323,845 | 11,500 | |
| Helmerich & Payne Inc. | 284,298 | 10,300 | |
| * | Denbury Inc. | 136,167 | 9,894 |
| * | CNX Resources Corp. | 566,242 | 9,252 |
| California Resources Corp. | 219,368 | 9,045 | |
| Magnolia Oil & Gas Corp. Class A | 389,222 | 8,699 | |
| Whiting Petroleum Corp. | 106,389 | 7,857 | |
| Cactus Inc. Class A | 149,736 | 7,586 | |
| * | Renewable Energy Group Inc. | 120,716 | 7,424 |
| Patterson-UTI Energy Inc. | 504,114 | 7,274 | |
| * | Callon Petroleum Co. | 128,560 | 7,246 |
| Oasis Petroleum Inc. | 53,551 | 7,096 | |
| Equitrans Midstream Corp. | 1,104,016 | 7,077 | |
| Arcosa Inc. | 130,685 | 6,883 | |
| *,1 | FuelCell Energy Inc. | 997,955 | 5,988 |
| Civitas Resources Inc. | 117,397 | 5,925 | |
| * | Kosmos Energy Ltd. | 1,211,132 | 5,886 |
| * | Ameresco Inc. Class A | 83,579 | 5,370 |
| Arch Resources Inc. | 40,810 | 4,872 | |
| World Fuel Services Corp. | 168,735 | 4,782 | |
| * | Golar LNG Ltd. | 273,607 | 4,761 |
| * | Centennial Resource Development Inc. Class A | 498,162 | 4,374 |
| Warrior Met Coal Inc. | 138,854 | 4,374 | |
| * | PBF Energy Inc. Class A | 259,833 | 4,318 |
| * | Green Plains Inc. | 129,222 | 4,231 |
| * | Peabody Energy Corp. | 240,290 | 4,167 |
| * | Oceaneering International Inc. | 268,996 | 3,938 |
| * | Array Technologies Inc. | 345,477 | 3,883 |
| * | SunPower Corp. | 216,419 | 3,880 |
8
Russell
2000 Index Fund
| Shares | Market Value• ($000) | ||
| *,1 | Tellurian Inc. | 1,002,142 | 3,818 |
| * | NexTier Oilfield Solutions Inc. | 467,147 | 3,719 |
| Northern Oil and Gas Inc. | 141,078 | 3,538 | |
| * | Liberty Oilfield Services Inc. Class A | 245,488 | 3,064 |
| * | Delek US Holdings Inc. | 177,274 | 3,054 |
| Archrock Inc. | 363,425 | 3,035 | |
| * | ProPetro Holding Corp. | 233,065 | 2,976 |
| * | Stem Inc. | 308,559 | 2,938 |
| * | CONSOL Energy Inc. | 92,550 | 2,845 |
| * | NOW Inc. | 298,150 | 2,785 |
| * | Dril-Quip Inc. | 94,799 | 2,734 |
| Brigham Minerals Inc. Class A | 117,907 | 2,686 | |
| * | Laredo Petroleum Inc. | 33,846 | 2,591 |
| * | Nabors Industries Ltd. (XNYS) | 19,030 | 2,389 |
| * | MRC Global Inc. | 217,356 | 2,195 |
| * | Bristow Group Inc. | 63,933 | 2,119 |
| * | Comstock Resources Inc. | 247,518 | 2,054 |
| * | Expro Group Holdings NV | 125,748 | 2,023 |
| * | Ranger Oil Corp. Class A | 57,034 | 1,925 |
| *,1 | Gevo Inc. | 534,354 | 1,897 |
| Berry Corp. | 182,114 | 1,821 | |
| SunCoke Energy Inc. | 224,379 | 1,779 | |
| * | Par Pacific Holdings Inc. | 120,930 | 1,645 |
| * | Tidewater Inc. | 110,939 | 1,643 |
| * | RPC Inc. | 181,971 | 1,596 |
| * | Talos Energy Inc. | 100,909 | 1,585 |
| * | Helix Energy Solutions Group Inc. | 386,722 | 1,566 |
| * | DMC Global Inc. | 50,216 | 1,476 |
| * | Select Energy Services Inc. Class A | 169,616 | 1,404 |
| CVR Energy Inc. | 79,940 | 1,390 | |
| * | REX American Resources Corp. | 14,322 | 1,353 |
| * | TPI Composites Inc. | 96,959 | 1,311 |
| * | W&T Offshore Inc. | 252,782 | 1,229 |
| * | Crescent Energy Inc. Class A | 79,948 | 1,211 |
| * | Centrus Energy Corp. Class A | 26,042 | 1,179 |
| * | TETRA Technologies Inc. | 330,311 | 1,057 |
| * | Aemetis Inc. | 73,940 | 948 |
| * | Newpark Resources Inc. | 244,738 | 923 |
| * | National Energy Services Reunited Corp. | 102,664 | 915 |
| Solaris Oilfield Infrastructure Inc. Class A | 86,054 | 895 | |
| * | Earthstone Energy Inc. Class A | 68,153 | 886 |
| * | Oil States International Inc. | 165,897 | 868 |
| * | American Superconductor Corp. | 75,595 | 642 |
| * | FTS International Inc. Class A | 23,924 | 633 |
| Falcon Minerals Corp. | 106,870 | 613 | |
| Kinetik Holdings Inc. | 8,795 | 598 | |
| * | Matrix Service Co. | 71,551 | 497 |
| *,1 | Beam Global | 24,397 | 354 |
| HighPeak Energy Inc. | 13,867 | 293 | |
| *,1 | FTC Solar Inc. | 52,125 | 246 |
| Riley Exploration Permian Inc. | 6,534 | 219 |
| Shares | Market Value• ($000) | ||
| *,1 | Advent Technologies Holdings Inc. | 42,068 | 109 |
| * | Nabors Industries Ltd. Warrants Exp. 6/11/26 | 5,784 | 81 |
| * | Fluence Energy Inc. | 5,220 | 71 |
| 433,230 | |||
| Financials (16.6%) | |||
| SouthState Corp. | 188,802 | 16,992 | |
| First Financial Bankshares Inc. | 351,056 | 16,823 | |
| Glacier Bancorp Inc. | 297,925 | 16,505 | |
| Cadence Bank | 508,272 | 16,072 | |
| Valley National Bancorp | 1,082,483 | 15,122 | |
| Old National Bancorp | 796,026 | 14,551 | |
| Houlihan Lokey Inc. Class A | 138,073 | 14,202 | |
| Blackstone Mortgage Trust Inc. Class A | 425,066 | 13,509 | |
| Selective Insurance Group Inc. | 160,561 | 13,357 | |
| United Bankshares Inc. | 356,578 | 13,058 | |
| Hancock Whitney Corp. | 233,917 | 13,024 | |
| Essent Group Ltd. | 292,764 | 12,934 | |
| Kinsale Capital Group Inc. | 58,125 | 12,192 | |
| UMB Financial Corp. | 118,345 | 12,055 | |
| ServisFirst Bancshares Inc. | 134,831 | 11,782 | |
| Radian Group Inc. | 487,031 | 11,640 | |
| RLI Corp. | 108,079 | 10,970 | |
| United Community Banks Inc. | 283,303 | 10,952 | |
| Walker & Dunlop Inc. | 79,042 | 10,935 | |
| Independent Bank Corp. (XNGS) | 123,679 | 10,638 | |
| BankUnited Inc. | 240,554 | 10,632 | |
| Community Bank System Inc. | 144,799 | 10,562 | |
| Investors Bancorp Inc. | 618,822 | 10,359 | |
| Eastern Bankshares Inc. | 464,309 | 10,150 | |
| Associated Banc-Corp. | 402,006 | 9,805 | |
| Pacific Premier Bancorp Inc. | 253,103 | 9,798 | |
| Home BancShares Inc. | 411,736 | 9,639 | |
| First Interstate BancSystem Inc. Class A | 237,021 | 9,623 | |
| * | Enstar Group Ltd. | 33,493 | 9,547 |
| * | Silvergate Capital Corp. Class A | 74,281 | 9,514 |
| Cathay General Bancorp | 200,453 | 9,427 | |
| * | Trupanion Inc. | 103,047 | 9,236 |
| * | Texas Capital Bancshares Inc. | 137,131 | 9,133 |
| Ameris Bancorp | 179,901 | 8,905 | |
| WSFS Financial Corp. | 174,929 | 8,892 | |
| Simmons First National Corp. Class A | 307,788 | 8,778 | |
| * | Mr Cooper Group Inc. | 167,342 | 8,506 |
| * | Axos Financial Inc. | 153,964 | 8,428 |
| American Equity Investment Life Holding Co. | 223,289 | 8,416 | |
| Atlantic Union Bankshares Corp. | 203,701 | 8,276 | |
| CVB Financial Corp. | 349,476 | 8,241 | |
| Federated Hermes Inc. | 251,345 | 8,211 | |
| * | Focus Financial Partners Inc. Class A | 161,092 | 8,061 |
9
Russell
2000 Index Fund
| Shares | Market Value• ($000) | ||
| CNO Financial Group Inc. | 332,684 | 8,041 | |
| Moelis & Co. Class A | 165,430 | 7,975 | |
| Independent Bank Group Inc. | 101,746 | 7,850 | |
| Chimera Investment Corp. | 637,690 | 7,761 | |
| Columbia Banking System Inc. | 211,836 | 7,760 | |
| Fulton Financial Corp. | 429,930 | 7,747 | |
| FirstCash Holdings Inc. | 107,366 | 7,735 | |
| First BanCorp. (XNYS) | 547,260 | 7,727 | |
| Navient Corp. | 427,955 | 7,536 | |
| Hamilton Lane Inc. Class A | 94,334 | 7,367 | |
| Piper Sandler Cos. | 47,315 | 7,003 | |
| Arbor Realty Trust Inc. | 388,567 | 6,994 | |
| First Merchants Corp. | 154,057 | 6,738 | |
| *,1 | Marathon Digital Holdings Inc. | 257,553 | 6,529 |
| Flagstar Bancorp Inc. | 140,636 | 6,410 | |
| * | Triumph Bancorp Inc. | 63,550 | 6,375 |
| International Bancshares Corp. | 145,055 | 6,239 | |
| Washington Federal Inc. | 175,181 | 6,233 | |
| First Financial Bancorp | 250,243 | 6,151 | |
| * | Cannae Holdings Inc. | 228,638 | 6,139 |
| WesBanco Inc. | 165,590 | 6,051 | |
| Artisan Partners Asset Management Inc. Class A | 158,384 | 6,036 | |
| * | Open Lending Corp. Class A | 281,141 | 5,856 |
| Sandy Spring Bancorp Inc. | 120,843 | 5,690 | |
| Banner Corp. | 92,088 | 5,674 | |
| Towne Bank | 181,712 | 5,666 | |
| * | Genworth Financial Inc. Class A | 1,371,908 | 5,570 |
| Live Oak Bancshares Inc. | 86,059 | 5,503 | |
| Cohen & Steers Inc. | 67,169 | 5,458 | |
| Renasant Corp. | 147,921 | 5,401 | |
| Heartland Financial USA Inc. | 108,763 | 5,397 | |
| Hope Bancorp Inc. | 312,503 | 5,300 | |
| Trustmark Corp. | 168,090 | 5,293 | |
| Lakeland Financial Corp. | 65,805 | 5,278 | |
| * | NMI Holdings Inc. Class A | 226,990 | 5,253 |
| Veritex Holdings Inc. | 128,663 | 5,228 | |
| Park National Corp. | 38,888 | 5,213 | |
| * | PRA Group Inc. | 116,774 | 5,212 |
| Bank of NT Butterfield & Son Ltd. | 135,634 | 5,208 | |
| * | Encore Capital Group Inc. | 78,699 | 5,193 |
| Hilltop Holdings Inc. | 167,064 | 5,166 | |
| Seacoast Banking Corp. of Florida | 140,779 | 5,160 | |
| Eagle Bancorp Inc. | 85,502 | 5,123 | |
| * | Customers Bancorp Inc. | 80,700 | 4,967 |
| * | LendingClub Corp. |