Semiannual Report | February 28, 2022

Vanguard Russell 3000 Index Fund

Contents

About Your Fund’s Expenses	1
Financial Statements	4

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.

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 3000 Index Fund
ETF Shares	$1,000.00	$957.10	$0.49
Institutional Shares	1,000.00	957.10	0.39
Based on Hypothetical 5% Yearly Return
Russell 3000 Index Fund
ETF Shares	$1,000.00	$1,024.30	$0.50
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 fund’s annualized six-month expense ratios for that period are 0.10% 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).

Russell 3000 Index Fund

Fund Allocation

As of February 28, 2022

Basic Materials	1.8%
Consumer Discretionary	15.3
Consumer Staples	5.1
Energy	3.8
Financials	11.7
Health Care	12.7
Industrials	12.9
Real Estate	3.5
Technology	27.7
Telecommunications	2.7
Utilities	2.8
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.

Russell 3000 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 (99.8%)
Basic Materials (1.8%)
	Freeport-McMoRan Inc.	70,020	3,287
	Newmont Corp.	38,425	2,544
	Air Products and Chemicals Inc.	10,616	2,509
	Ecolab Inc.	11,995	2,114
	Dow Inc.	35,824	2,112
	Nucor Corp.	13,693	1,802
	International Flavors & Fragrances Inc.	12,169	1,618
	Fastenal Co.	27,500	1,415
	LyondellBasell Industries NV Class A	12,632	1,228
	Albemarle Corp.	5,542	1,086
	Mosaic Co.	17,810	934
	CF Industries Holdings Inc.	10,253	832
	International Paper Co.	18,462	804
	Eastman Chemical Co.	6,416	760
	Celanese Corp. Class A	5,225	728
	FMC Corp.	6,094	715
	Avery Dennison Corp.	3,975	700
	Alcoa Corp.	8,916	672
	Steel Dynamics Inc.	9,057	639
	Reliance Steel & Aluminum Co.	2,964	566
^*	Cleveland-Cliffs Inc.	21,796	487
	Huntsman Corp.	9,938	402
	Royal Gold Inc.	3,143	381
	Olin Corp.	6,849	353
	US Steel Corp.	12,913	351
	Valvoline Inc.	8,678	281
	Southern Copper Corp.	3,990	277
	Scotts Miracle-Gro Co.	1,952	273
	Element Solutions Inc.	11,033	271
^*	RBC Bearings Inc.	1,294	251
	UFP Industries Inc.	2,859	245
	Ashland Global Holdings Inc.	2,641	244
^*	Univar Solutions Inc.	7,875	242
	Hexcel Corp.	4,078	236
	Commercial Metals Co.	5,853	226
	Avient Corp.	4,261	223
	Chemours Co.	7,946	219
	Balchem Corp.	1,555	215
	Timken Co.	3,120	205
	Cabot Corp.	2,716	199
^*	Livent Corp.	7,835	185
	Westlake Corp.	1,548	171
^*,1	MP Materials Corp.	3,668	167

		Shares	Market Value• ($000)
	Sensient Technologies Corp.	1,991	164
^*	Arconic Corp.	5,174	159
	Boise Cascade Co.	1,885	151
	Mueller Industries Inc.	2,642	151
	Hecla Mining Co.	25,772	148
^*	Ingevity Corp.	1,802	123
^*	Constellium SE Class A	5,970	116
	Quaker Chemical Corp.	622	115
	Minerals Technologies Inc.	1,603	112
	Tronox Holdings plc Class A	5,535	112
	Stepan Co.	1,044	108
	Innospec Inc.	1,089	104
	Compass Minerals International Inc.	1,641	96
	NewMarket Corp.	295	94
	GrafTech International Ltd.	9,263	93
	Trinseo plc	1,746	91
	Worthington Industries Inc.	1,576	90
^*	Novagold Resources Inc.	12,046	84
	Carpenter Technology Corp.	2,162	83
	Materion Corp.	980	82
^*	GCP Applied Technologies Inc.	2,389	75
^*	Kraton Corp.	1,596	74
	Kaiser Aluminum Corp.	717	69
^*	Energy Fuels Inc.	7,896	65
	Schnitzer Steel Industries Inc. Class A	1,260	61
^*	Sylvamo Corp.	1,667	58
^*	Century Aluminum Co.	2,257	53
^*	US Silica Holdings Inc.	3,665	53
^*	Uranium Energy Corp.	12,843	51
	AdvanSix Inc.	1,242	50
^*	Coeur Mining Inc.	11,162	48
	Schweitzer-Mauduit International Inc.	1,462	46
	Orion Engineered Carbons SA	2,941	46
^*	Amyris Inc.	9,264	42
^*	TimkenSteel Corp.	2,198	40
	Hawkins Inc.	870	39
	Neenah Inc.	852	33
	Verso Corp. Class A	1,230	33
	Glatfelter Corp.	2,239	31
^*	Koppers Holdings Inc.	1,034	30
	Ecovyst Inc.	2,487	27
^*	Clearwater Paper Corp.	861	25
^*	Intrepid Potash Inc.	437	25
	Omega Flex Inc.	161	23

Russell 3000 Index Fund

		Shares	Market Value• ($000)
^*	Meta Materials Inc.	10,304	22
	Ryerson Holding Corp.	762	20
^*	Alto Ingredients Inc.	3,473	20
	Haynes International Inc.	528	19
^*	Rayonier Advanced Materials Inc.	3,249	19
	American Vanguard Corp.	1,197	18
^*	Zymergen Inc.	4,057	16
	Olympic Steel Inc.	514	14
	Tredegar Corp.	1,211	14
^*	Unifi Inc.	686	13
^*	Ur-Energy Inc.	8,792	13
^*	Northwest Pipe Co.	399	11
	FutureFuel Corp.	1,191	9
^*	Gatos Silver Inc.	2,187	7
^*	NN Inc.	1,893	5
^*	Marrone Bio Innovations Inc.	6,510	4
^*	Polymet Mining Corp.	1,458	4
^*	Perpetua Resources Corp.	300	1
			36,771
Consumer Discretionary (15.3%)
^*	Amazon.com Inc.	20,794	63,864
^*	Tesla Inc.	38,745	33,725
	Home Depot Inc.	50,972	16,098
^*	Walt Disney Co.	86,982	12,913
	Costco Wholesale Corp.	21,186	11,001
	Walmart Inc.	68,809	9,300
	McDonald's Corp.	35,866	8,779
^*	Netflix Inc.	20,682	8,159
	NIKE Inc. Class B	59,385	8,109
	Lowe's Cos. Inc.	33,227	7,345
	Starbucks Corp.	56,511	5,187
	Target Corp.	23,358	4,666
^*	Booking Holdings Inc.	1,963	4,264
	TJX Cos. Inc.	57,701	3,814
	Ford Motor Co.	187,371	3,290
	Estee Lauder Cos. Inc. Class A	10,926	3,238
^*	General Motors Co.	65,795	3,074
	Activision Blizzard Inc.	36,970	3,013
^*	Uber Technologies Inc.	77,055	2,776
	Dollar General Corp.	11,162	2,214
^*	Marriott International Inc. Class A	13,012	2,214
^*	O'Reilly Automotive Inc.	3,190	2,071
^*	Chipotle Mexican Grill Inc. Class A	1,342	2,044
^*	Hilton Worldwide Holdings Inc.	13,115	1,952
^*	AutoZone Inc.	1,001	1,865
^*	Trade Desk Inc. Class A	20,702	1,766
	Electronic Arts Inc.	13,557	1,764
^*	Lululemon Athletica Inc.	5,441	1,741
	Yum! Brands Inc.	14,125	1,731
^*	Aptiv plc	12,884	1,668
	eBay Inc.	29,830	1,628
	Ross Stores Inc.	16,678	1,524
^*	Dollar Tree Inc.	10,614	1,508
^*	Expedia Group Inc.	6,916	1,356
	DR Horton Inc.	15,786	1,348
^*	Southwest Airlines Co.	28,203	1,235
^*	Delta Air Lines Inc.	30,730	1,227
^*	Copart Inc.	9,943	1,222
	Best Buy Co. Inc.	11,693	1,130
	Tractor Supply Co.	5,392	1,099
	Yum China Holdings Inc.	20,439	1,063
	Lennar Corp. Class A	11,724	1,054

		Shares	Market Value• ($000)
^*	Spotify Technology SA	6,496	1,015
^*	Ulta Beauty Inc.	2,550	955
^*	Etsy Inc.	6,069	940
	Darden Restaurants Inc.	6,264	910
	VF Corp.	15,412	894
^*	Take-Two Interactive Software Inc.	5,499	891
	Paramount Global Class B	28,180	863
	Pool Corp.	1,871	858
^*	CarMax Inc.	7,807	854
	Omnicom Group Inc.	10,109	848
^*	Royal Caribbean Cruises Ltd.	10,358	836
	MGM Resorts International	18,686	828
^*	Caesars Entertainment Inc.	9,753	821
^*	Carnival Corp.	40,166	817
	Genuine Parts Co.	6,691	817
	Garmin Ltd.	7,289	805
^*	Live Nation Entertainment Inc.	6,549	791
	Domino's Pizza Inc.	1,732	749
^*	NVR Inc.	151	749
^*	Burlington Stores Inc.	3,176	717
^*	United Airlines Holdings Inc.	15,602	693
	Interpublic Group of Cos. Inc.	18,706	688
	Fox Corp. Class A	16,116	674
^*	Las Vegas Sands Corp.	15,645	671
	Bath & Body Works Inc.	11,697	624
^*	Liberty Media Corp.-Liberty Formula One Class C	10,222	621
	Advance Auto Parts Inc.	3,016	617
	LKQ Corp.	12,890	605
	PulteGroup Inc.	11,971	594
	Hasbro Inc.	6,099	592
	Whirlpool Corp.	2,826	569
^*	Carvana Co. Class A	3,744	563
	Tapestry Inc.	13,485	552
^*	Lyft Inc. Class A	13,849	539
^*	American Airlines Group Inc.	29,841	515
	Williams-Sonoma Inc.	3,539	513
^*	Wayfair Inc. Class A	3,638	512
	Vail Resorts Inc.	1,910	498
	Lithia Motors Inc. Class A	1,405	479
^*	Capri Holdings Ltd.	7,000	474
	Service Corp. International	7,719	470
	BorgWarner Inc. (XNYS)	11,380	467
^*	Floor & Decor Holdings Inc. Class A	4,857	464
^*,1	AMC Entertainment Holdings Inc. Class A	24,620	464
^*	Rivian Automotive Inc. Class A	6,831	462
	Lear Corp.	2,859	450
^*	Zynga Inc. Class A	48,822	443
^*	Liberty Media Corp.- Liberty SiriusXM Class C	8,787	442
^*	Wynn Resorts Ltd.	5,012	434
	Newell Brands Inc.	18,148	431
^*	Five Below Inc.	2,619	428
	Churchill Downs Inc.	1,738	419
^*	Discovery Inc. Class C	14,922	417
^*	Mattel Inc.	16,652	416
	News Corp. Class A	18,557	414
^*	BJ's Wholesale Club Holdings Inc.	6,489	408
	Aramark	10,909	403
^*	Penn National Gaming Inc.	7,808	401
	Kohl's Corp.	7,035	391

Russell 3000 Index Fund

		Shares	Market Value• ($000)
	Macy's Inc.	15,097	391
^*	GameStop Corp. Class A	3,068	378
	Wyndham Hotels & Resorts Inc.	4,363	377
^*	Deckers Outdoor Corp.	1,293	373
^*	Bright Horizons Family Solutions Inc.	2,844	372
^*	Peloton Interactive Inc. Class A	12,806	372
^*	SiteOne Landscape Supply Inc.	2,139	369
^*	Avis Budget Group Inc.	1,933	355
	Rollins Inc.	10,828	353
^*	DraftKings Inc. Class A	14,895	353
^*	Norwegian Cruise Line Holdings Ltd.	17,899	349
	Gentex Corp.	11,390	345
	Nexstar Media Group Inc. Class A	1,866	345
	New York Times Co. Class A	7,820	344
^*	RH	846	340
^*	Planet Fitness Inc. Class A	3,944	334
	PVH Corp.	3,363	329
	Polaris Inc.	2,704	329
^*	Alaska Air Group Inc.	5,796	325
	Marriott Vacations Worldwide Corp.	1,978	318
	Texas Roadhouse Inc. Class A	3,322	315
	Dick's Sporting Goods Inc.	2,962	311
	Harley-Davidson Inc.	7,271	300
	Ralph Lauren Corp. Class A	2,268	299
	Nielsen Holdings plc	16,920	295
^*	Skechers USA Inc. Class A	6,238	287
	Toll Brothers Inc.	5,286	287
^*	Scientific Games Corp. Class A	4,520	284
	Boyd Gaming Corp.	3,950	280
	Tempur Sealy International Inc.	8,480	280
	Hanesbrands Inc.	16,778	259
¹	Sirius XM Holdings Inc.	42,038	259
^*	YETI Holdings Inc.	4,172	257
	AMERCO	428	247
^*	Terminix Global Holdings Inc.	5,692	242
	Choice Hotels International Inc.	1,655	239
^*	IAA Inc.	6,410	236
	Leggett & Platt Inc.	6,359	236
	TEGNA Inc.	10,315	236
	Fox Corp. Class B	6,141	235
^*	Fox Factory Holding Corp.	1,991	235
^*	Helen of Troy Ltd.	1,123	231
^*	Crocs Inc.	2,744	230
^*	Hyatt Hotels Corp. Class A	2,352	228
	Thor Industries Inc.	2,515	228
^*	JetBlue Airways Corp.	14,815	226
	Travel + Leisure Co.	3,972	223
^*	Discovery Inc. Class A	7,912	222
^*	AutoNation Inc.	1,929	221
^*	Chegg Inc.	6,860	215
^*	Hilton Grand Vacations Inc.	4,059	211
^*	Asbury Automotive Group Inc.	1,076	209
	Wingstop Inc.	1,436	209
^*	Goodyear Tire & Rubber Co.	13,374	207
^*	Adient plc	4,601	206
	Murphy USA Inc.	1,135	205

		Shares	Market Value• ($000)
	H&R Block Inc.	8,200	203
	Wendy's Co.	8,761	199
^*	Victoria's Secret & Co.	3,635	195
^*	QuantumScape Corp. Class A	11,876	192
	Carter's Inc.	1,938	187
^*	Under Armour Inc. Class A	10,480	187
^*	Meritage Homes Corp.	1,804	178
	Columbia Sportswear Co.	1,914	177
	Signet Jewelers Ltd.	2,516	177
^*	Skyline Champion Corp.	2,552	172
	Papa John's International Inc.	1,605	171
^*	Taylor Morrison Home Corp. Class A	5,803	171
^*	SeaWorld Entertainment Inc.	2,443	170
^*	Sabre Corp.	15,324	167
^*	Six Flags Entertainment Corp.	3,791	166
^*	Liberty Media Corp.- Liberty SiriusXM Class A	3,244	163
^*	Madison Square Garden Sports Corp.	930	161
^*	Sonos Inc.	5,843	160
	Steven Madden Ltd.	3,735	159
	American Eagle Outfitters Inc.	7,368	155
	Lennar Corp. Class B	2,054	155
^*	Grand Canyon Education Inc.	1,775	154
	Group 1 Automotive Inc.	846	154
^*	Visteon Corp.	1,285	154
^*	Coty Inc. Class A	16,427	151
	KB Home	3,873	150
	International Game Technology plc	4,897	150
	LCI Industries	1,200	149
^*	National Vision Holdings Inc.	3,968	146
	Gap Inc.	9,830	143
	Cracker Barrel Old Country Store Inc.	1,052	141
	Red Rock Resorts Inc. Class A	2,777	140
	Penske Automotive Group Inc.	1,413	139
	Foot Locker Inc.	4,350	138
^*	Callaway Golf Co.	5,549	137
^*	Gentherm Inc.	1,616	137
^*	Ollie's Bargain Outlet Holdings Inc.	3,171	137
^*	Leslie's Inc.	6,410	137
^*	Shake Shack Inc. Class A	1,818	136
	MillerKnoll Inc.	3,447	134
^*	LGI Homes Inc.	1,057	133
^*	Houghton Mifflin Harcourt Co.	6,169	129
^*	Under Armour Inc. Class C	8,231	129
	World Wrestling Entertainment Inc. Class A	2,166	128
^*	Allegiant Travel Co.	728	127
	Kontoor Brands Inc.	2,567	127
	Dana Inc.	6,746	126
	News Corp. Class B	5,616	126
^*	Copa Holdings SA Class A	1,457	124
^*	Tri Pointe Homes Inc.	5,494	123
^*	frontdoor Inc.	4,071	122
^*	Spirit Airlines Inc.	4,856	122
^*	TripAdvisor Inc.	4,777	122
^*	Academy Sports & Outdoors Inc.	3,740	121

Russell 3000 Index Fund

		Shares	Market Value• ($000)
^*	Boot Barn Holdings Inc.	1,370	119
^*	Dorman Products Inc.	1,260	118
^*	Overstock.com Inc.	2,067	118
^*	Cavco Industries Inc.	427	116
^*	iHeartMedia Inc. Class A	5,429	116
	MDC Holdings Inc.	2,543	113
^*	Nordstrom Inc.	5,427	113
	Rush Enterprises Inc. Class A	2,178	113
	Graham Holdings Co. Class B	186	112
^*	KAR Auction Services Inc.	5,976	110
^*	Abercrombie & Fitch Co. Class A	2,770	105
^*	Playtika Holding Corp.	5,002	103
	Bloomin' Brands Inc.	4,094	101
^*	Central Garden & Pet Co. Class A	2,299	101
	Winnebago Industries Inc.	1,572	101
	John Wiley & Sons Inc. Class A	1,979	100
	Gray Television Inc.	4,207	99
	Qurate Retail Inc. Series A	18,049	99
^*	PROG Holdings Inc.	3,222	99
^*	Vista Outdoor Inc.	2,699	98
^*	Fisker Inc.	7,871	96
^*	Cinemark Holdings Inc.	5,390	95
^*	ODP Corp.	2,130	94
	Wolverine World Wide Inc.	4,038	93
^*	Cheesecake Factory Inc.	2,140	92
^*	Dave & Buster's Entertainment Inc.	2,096	91
^*	Knowles Corp.	4,188	91
^*	Sally Beauty Holdings Inc.	5,278	91
^*	Brinker International Inc.	2,125	90
^*	Cardlytics Inc.	1,545	90
^*	Urban Outfitters Inc.	3,284	90
	Century Communities Inc.	1,401	89
^*	Everi Holdings Inc.	3,804	89
	Jack in the Box Inc.	1,026	89
	Rent-A-Center Inc.	3,135	89
	HNI Corp.	2,152	88
^*	Madison Square Garden Entertainment Corp.	1,124	88
^*	Bed Bath & Beyond Inc.	5,013	85
^*	Revolve Group Inc.	1,735	82
	Inter Parfums Inc.	865	80
^*	Driven Brands Holdings Inc.	2,728	80
^*	iRobot Corp.	1,275	79
^*	Lions Gate Entertainment Corp. Class B	5,474	78
	PriceSmart Inc.	1,078	78
^*	Figs Inc. Class A	4,763	78
	Monro Inc.	1,645	77
^*	Coursera Inc.	3,666	75
	Strategic Education Inc.	1,237	73
	Dillard's Inc. Class A	287	72
	Oxford Industries Inc.	801	71
^*	Malibu Boats Inc. Class A	1,010	70
^*	Stride Inc.	2,073	70
	Acushnet Holdings Corp.	1,581	69
^*	M/I Homes Inc.	1,393	69
^*	Sleep Number Corp.	1,031	68
	Sinclair Broadcast Group Inc. Class A	2,238	67
^*	Clear Channel Outdoor Holdings Inc.	17,596	66
	Dine Brands Global Inc.	791	66
^*	SkyWest Inc.	2,325	65

		Shares	Market Value• ($000)
	Camping World Holdings Inc. Class A	2,073	64
^*	elf Beauty Inc.	2,407	64
^*	XPEL Inc.	869	63
^*	EW Scripps Co. Class A	2,783	62
^*	Mister Car Wash Inc.	3,873	62
	La-Z-Boy Inc.	2,075	61
	Sturm Ruger & Co. Inc.	835	60
^*	G-III Apparel Group Ltd.	2,140	59
^*	Liberty Media Corp.- Liberty Braves Class C	2,368	58
^*	Tenneco Inc. Class A	3,025	58
^*	AMC Networks Inc. Class A	1,400	58
	Franchise Group Inc.	1,372	58
^*	Bally's Corp.	1,585	57
	Big Lots Inc.	1,606	56
	Sonic Automotive Inc. Class A	1,048	56
^*	Cars.com Inc.	3,323	54
^*	Clean Energy Fuels Corp.	7,399	54
	Buckle Inc.	1,446	52
^*	GoPro Inc. Class A	6,063	52
	Scholastic Corp.	1,225	52
	Steelcase Inc. Class A	4,236	52
^*	Imax Corp.	2,497	52
	Arko Corp.	6,285	52
^*	Adtalem Global Education Inc.	2,463	51
^*	American Axle & Manufacturing Holdings Inc.	5,547	51
^*	Stitch Fix Inc. Class A	4,082	51
	Laureate Education Inc. Class A	4,621	50
^*	Monarch Casino & Resort Inc.	631	49
^*	Hawaiian Holdings Inc.	2,519	48
^*	MarineMax Inc.	1,044	48
^*	Zumiez Inc.	1,058	47
^*	Genesco Inc.	720	46
	Standard Motor Products Inc.	1,056	46
^*	Petco Health & Wellness Co. Inc. Class A	2,599	46
^*	Denny's Corp.	2,833	45
^*	Golden Entertainment Inc.	797	45
^*	Children's Place Inc.	694	44
	Guess? Inc.	2,025	44
^*	Lions Gate Entertainment Corp. Class A	2,861	44
^*	Blink Charging Co.	1,771	44
^*	PowerSchool Holdings Inc. Class A	2,700	43
	Matthews International Corp. Class A	1,231	41
	Ruth's Hospitality Group Inc.	1,667	41
^*	Tupperware Brands Corp.	2,236	41
	Smith & Wesson Brands Inc.	2,242	40
	Winmark Corp.	171	39
	Carriage Services Inc. Class A	779	38
^*	Arlo Technologies Inc.	3,945	37
^*	Designer Brands Inc. Class A	2,860	37
	Interface Inc. Class A	2,828	37
	Caleres Inc.	1,733	36
^*	2U Inc.	3,403	36
^*	Accel Entertainment Inc. Class A	2,731	36

Russell 3000 Index Fund

		Shares	Market Value• ($000)
^*	Sun Country Airlines Holdings Inc.	1,331	36
^*	BJ's Restaurants Inc.	1,093	35
^*	Green Brick Partners Inc.	1,501	35
^*	Viad Corp.	1,003	35
^*	Perdoceo Education Corp.	3,299	35
	Hibbett Inc.	747	34
^*	RealReal Inc.	3,816	34
^*	Gannett Co. Inc.	6,812	34
^*	Fossil Group Inc.	2,433	33
^*	Chuy's Holdings Inc.	978	32
	Movado Group Inc.	811	32
^*	Canoo Inc.	5,624	32
	Aaron's Co. Inc.	1,460	31
^*	Boston Omaha Corp. Class A	1,062	30
^*	QuinStreet Inc.	2,631	30
^*	Quotient Technology Inc.	4,462	30
	A-Mark Precious Metals Inc.	425	30
^*	Portillo's Inc. Class A	1,180	30
^*	Life Time Group Holdings Inc.	1,948	30
^*	America's Car-Mart Inc.	288	28
	RCI Hospitality Holdings Inc.	425	28
^*	Corsair Gaming Inc.	1,198	28
^*	Latham Group Inc.	1,609	28
	Clarus Corp.	1,180	27
^*	OneSpaWorld Holdings Ltd.	2,564	27
^*	Chico's FAS Inc.	5,586	26
	Ethan Allen Interiors Inc.	1,010	26
^*	Lindblad Expeditions Holdings Inc.	1,482	26
	Shoe Carnival Inc.	889	26
^*	WW International Inc.	2,558	26
^*	TravelCenters of America Inc.	605	26
^*	Rush Street Interactive Inc.	2,542	26
^*	Lovesac Co.	595	25
	OneWater Marine Inc. Class A	498	25
^*	Hovnanian Enterprises Inc. Class A	249	24
^*	Master Craft Boat Holdings Inc.	831	24
	Haverty Furniture Cos. Inc.	810	23
^*	Party City Holdco Inc.	5,358	23
^*	Sportsman's Warehouse Holdings Inc.	2,021	23
^*	Stagwell Inc.	3,024	23
^*	Beazer Homes USA Inc.	1,367	22
^*	Funko Inc. Class A	1,283	22
^*	Liberty Media Corp.- Liberty Formula One Class A	384	22
^*	Marcus Corp.	1,198	22
^*	Frontier Group Holdings Inc.	1,691	22
	Johnson Outdoors Inc. Class A	257	21
^*	LL Flooring Holdings Inc.	1,283	21
^*	Selectquote Inc.	6,909	21
	Global Industrial Co.	653	21
^*	Daily Journal Corp.	61	20
^*	Liquidity Services Inc.	1,174	20
^*	1-800-Flowers.com Inc. Class A	1,294	20
^*	Stoneridge Inc.	1,195	20
^*	Universal Electronics Inc.	607	20
^*	Bluegreen Vacations Holding Class A	712	20
^*	Lordstown Motors Corp. Class A	7,859	20
	Cato Corp. Class A	1,059	19

		Shares	Market Value• ($000)
	Entravision Communications Corp. Class A	2,974	19
^*	CarParts.com Inc.	2,298	19
^*	AMMO Inc.	4,002	19
^*	American Public Education Inc.	912	18
	Big 5 Sporting Goods Corp.	1,010	17
^*	Century Casinos Inc.	1,377	17
^*	Conn's Inc.	928	17
	Del Taco Restaurants Inc.	1,358	17
^*	European Wax Center Inc. Class A	698	17
^*	Citi Trends Inc.	438	16
	Kimball International Inc. Class B	1,691	16
^*	Turtle Beach Corp.	677	16
^*,1	Vuzix Corp.	2,848	16
^*	Purple Innovation Inc. Class A	2,705	16
^*	Golden Nugget Online Gaming Inc.	1,863	16
^*	Audacy Inc. Class A	5,246	16
^*	Integral Ad Science Holding Corp.	786	15
^*	F45 Training Holdings Inc.	953	15
¹	Krispy Kreme Inc.	1,023	15
^*	Container Store Group Inc.	1,541	14
	Tilly's Inc. Class A	1,108	14
^*	Full House Resorts Inc.	1,583	14
^*	El Pollo Loco Holdings Inc.	948	13
^*	Motorcar Parts of America Inc.	818	13
^*	Noodles & Co. Class A	1,968	13
^*	Red Robin Gourmet Burgers Inc.	752	13
^*	Instructure Holdings Inc.	559	13
^*	Snap One Holdings Corp.	646	13
^*	Cooper-Standard Holdings Inc.	910	12
^*	Genius Brands International Inc.	13,707	12
^*	Lands' End Inc.	694	12
^*	Alta Equipment Group Inc.	969	12
^*	NEOGAMES SA	542	12
^*	ONE Group Hospitality Inc.	983	12
^*	Duluth Holdings Inc. Class B	760	11
^*	PlayAGS Inc.	1,339	11
	Rocky Brands Inc.	282	11
^*	Vera Bradley Inc.	1,433	11
^*	Romeo Power Inc.	5,878	11
^*	Xponential Fitness Inc. Class A	519	11
^*	Barnes & Noble Education Inc.	1,856	10
^*	Eastman Kodak Co.	2,174	10
^*	Fiesta Restaurant Group Inc.	999	10
	Hooker Furnishings Corp.	498	10
	Superior Group of Cos. Inc.	500	10
^*	American Outdoor Brands Inc.	661	10
^*	Thryv Holdings Inc.	327	10
^*	Traeger Inc.	1,061	10
^*	Kirkland's Inc.	678	9
^*	Kura Sushi USA Inc. Class A	174	9
¹	Weber Inc. Class A	797	9
^*	Udemy Inc.	679	9
^*	Central Garden & Pet Co.	171	8
^*	Mesa Air Group Inc.	1,765	8

Russell 3000 Index Fund

		Shares	Market Value• ($000)
	National CineMedia Inc.	2,831	8
	Bassett Furniture Industries Inc.	470	8
^*	VOXX International Corp. Class A	792	8
	Nathan's Famous Inc.	141	8
	Paramount Global Class A	228	8
^*,1	Arcimoto Inc.	1,329	8
^*	First Watch Restaurant Group Inc.	541	8
	Escalade Inc.	523	7
	Flexsteel Industries Inc.	337	7
^*	Liberty TripAdvisor Holdings Inc. Class A	3,372	7
	Lifetime Brands Inc.	528	7
^*	Nautilus Inc.	1,444	7
^*	Lazydays Holdings Inc.	370	7
^*	CarLotz Inc.	3,473	7
	JOANN Inc.	585	7
^*	Drive Shack Inc.	4,173	6
^*	Legacy Housing Corp.	255	6
^*	Shift Technologies Inc.	3,014	6
^*	Solo Brands Inc. Class A	552	6
^*	Biglari Holdings Inc. Class B	37	5
	NL Industries Inc.	759	5
^*	CuriosityStream Inc.	1,264	5
^*	Stonemor Inc.	2,084	5
^*	Outbrain Inc.	411	5
^*	Torrid Holdings Inc.	617	5
^*	aka Brands Holding Corp.	601	5
^*	Rent the Runway Inc. Class A	834	5
^*	Lulu's Fashion Lounge Holdings Inc.	518	5
	Carrols Restaurant Group Inc.	1,595	4
	Hamilton Beach Brands Holding Co. Class A	282	4
	Rush Enterprises Inc. Class B	83	4
	Marine Products Corp.	357	4
^*	Emerald Holding Inc.	1,078	4
^*	XL Fleet Corp.	1,936	4
^*	Aterian Inc.	1,261	4
^*	Esports Technologies Inc.	512	4
^*	Landsea Homes Corp.	645	4
^*	Revlon Inc. Class A	358	3
^*	Chicken Soup For The Soul Entertainment Inc.	337	3
^*	Hall of Fame Resort & Entertainment Co.	2,783	3
^*	Eros STX Global Corp.	855	3
^*	Fluent Inc.	1,630	2
^*	HyreCar Inc.	884	2
^*	Dutch Bros Inc. Class A	50	2
^*	Sweetgreen Inc. Class A	65	2
^*	Arhaus Inc.	231	2
^*	Brilliant Earth Group Inc. Class A	113	1
			320,296
Consumer Staples (5.1%)
	Procter & Gamble Co.	115,417	17,992
	Coca-Cola Co.	186,342	11,598
	PepsiCo Inc.	66,362	10,866
	Philip Morris International Inc.	74,577	7,538
	CVS Health Corp.	63,068	6,537

		Shares	Market Value• ($000)
	Altria Group Inc.	88,718	4,550
	Mondelez International Inc. Class A	67,055	4,391
	Colgate-Palmolive Co.	40,222	3,095
	Sysco Corp.	24,429	2,128
	Kimberly-Clark Corp.	16,135	2,100
	Archer-Daniels-Midland Co.	26,641	2,090
	McKesson Corp.	7,330	2,015
	General Mills Inc.	29,202	1,969
	Corteva Inc.	34,925	1,817
	Kroger Co.	35,181	1,646
	Constellation Brands Inc. Class A	7,454	1,607
	Walgreens Boots Alliance Inc.	34,246	1,578
^*	Monster Beverage Corp.	17,709	1,495
	Hershey Co.	7,033	1,423
	Kraft Heinz Co.	33,236	1,304
	Keurig Dr Pepper Inc.	33,213	1,284
	Tyson Foods Inc. Class A	13,787	1,278
	Church & Dwight Co. Inc.	11,649	1,140
	McCormick & Co. Inc.	11,905	1,133
	AmerisourceBergen Corp. Class A	7,121	1,015
	Clorox Co.	5,784	843
	Conagra Brands Inc.	22,344	781
	Kellogg Co.	12,100	774
	Bunge Ltd.	6,564	686
	J M Smucker Co.	5,046	680
	Hormel Foods Corp.	13,399	638
	Brown-Forman Corp. Class B	9,499	620
^*	Darling Ingredients Inc.	7,723	560
	Lamb Weston Holdings Inc.	6,930	460
	Molson Coors Beverage Co. Class B	8,456	441
	Campbell Soup Co.	9,317	419
^*	US Foods Holding Corp	10,334	404
^*	Performance Food Group Co.	7,107	398
	Casey's General Stores Inc.	1,756	330
^*	Post Holdings Inc.	2,839	299
	Ingredion Inc.	3,224	286
	Flowers Foods Inc.	9,091	249
	Albertsons Cos. Inc. Class A	7,587	221
	Spectrum Brands Holdings Inc.	2,044	190
^*	Freshpet Inc.	1,906	182
^*	Boston Beer Co. Inc. Class A	456	175
	Sanderson Farms Inc.	946	169
^*	Herbalife Nutrition Ltd.	4,754	169
^*	Celsius Holdings Inc.	2,590	165
^*	Hain Celestial Group Inc.	4,361	159
^*	Simply Good Foods Co.	3,924